Mishkin_02_C03.pptVIP

Chapter 3 What Is Money? 什么是货币 Meaning of Money 货币的含义 What is it? 货币的定义 Money (or the “money supply”) : anything that is generally accepted in payment for goods or services or in the repayment of debts.货币（或者“货币供给”）：任何一种被普遍接受的、可以用于购买商品和服务支付行为的或者债务偿付的物品 A rather broad definition 一个更为宽泛的定义 Meaning of Money 货币的含义 Money (a stock concept) is different from: （一个存量概念）货币与以下概念存在区别： Wealth: the total collection of pieces of property that serve to store value 财富：能够储藏价值的各种财产的总和 Income: flow of earnings per unit of time (a flow concept) 收入：每一单位时间内收入的数额（一个流量概念） Functions of Money 货币的功能 Medium of Exchange 交易媒介 : Eliminates the trouble of finding a double coincidence of needs (reduces transaction costs) 消除由寻找需求之间的双重匹配状态所产生的问题（降低交易成本） Promotes specialization 提高专业化水平 A medium of exchange must 作为交易媒介的物品必须 be easily standardized 易于标准化 be widely accepted 被普遍接受 be divisible 易于分割 be easy to carry 易于携带 not deteriorate quickly 不会很快腐坏变质 Functions of Money 货币的功能 Unit of Account 记账单位 : used to measure value in the economy 用来衡量经济运行过程中的价值 reduces transaction costs 降低交易成本 Store of Value 价值储藏: used to save purchasing power over time 用来实现购买力的长期储存 other assets also serve this function 其他形式的资产也能够实现这一功能 Money is the most liquid of all assets but loses value during inflation 货币是所有资产中流动性最强的资产，但是在通货膨胀期间会贬值 Evolution of the Payments System 支付体系的演变 Commodity Money: valuable, easily standardized and divisible commodities (e.g. precious metals, cigarettes). 商品货币：具有价值的、易于标准化和易于分割的商品（诸如：贵金属、香烟等） Fiat Money: paper money decreed by governments as legal tender. 不兑现货币：政府宣布以纸币作为的法偿货币。 Evolution of the Payments System 支付体系的演变 Checks: an instruction to your bank to transfer money from your account 支票：一项要求你的银行将资金从你的账户中进行转移的指令 Electronic Payment (e.g. online bill pay)电子支付 （诸如：网上账单支付等） E-Money (electronic money) E-货币（电子货币） : Debit card 借记卡 Stored-value card (smart card) 储值卡（智能卡） E-cash 电子现金 Measuring Money 货币的计量