03+什么是货币.ppt

巴克莱资本新词“李克强经济学”(Likonomics):李克强为中国制定的经济增长计划。巴克莱说，李克强经济学有三个重要“支柱”，不出台刺激措施、去杠杆化以及结构性改革。除非经济和市场面临迫在眉睫的崩溃风险，预计中国决策者不会采取激进财政和货币扩张政策。 * 克强指数(Li keqiang index) 英国著名政经杂志《经济学人》在2010年推出的用于评估中国GDP增长量的指标，源于李克强总理2007年任职辽宁省委书记时，喜欢通过耗电量、铁路货运量和贷款发放量三个指标分析当时辽宁省经济状况。 克强指数是耗电量、铁路货运量和银行贷款发放量三种经济指标的结合，该杂志认为，克强指数比官方GDP数字更能反映中国经济的现实状况。 《经济学人》杂志特别列出一张曲线图，以十年为时间轴，将“克强指数”与官方发布的GDP走势相对照，发现趋势上总体一致，但在上下波幅上，前者的表现比后者剧烈得多。 * * 货币总量数据的选择 Selecting Monetary Aggregates 虽然各个层次的货币供给长期具有变化的一致性，但一些时期存在明显的差异。Some significant differences in monetary aggregate movements have occurred during certain periods 基于货币供给稳定性和长期动态，M2 被认为是最恰当的.The different monetary aggregates give a different picture of movements in the money supply over time. * 货币平均年增长率 Growth Rates of M1 and M2, 1960-2006 * 货币总量的增长率 Growth Rates of Fed’s Monetary Aggregates * * M2增长率：初始值与修正值 * Homework Reading Exercise * (Figure 2.1) 1. The type of exchange known as barter, where goods and services are exchanged directly for other goods and services is inefficient because it incurs high transactions costs. 2. Voluntary trade may be sidestepped by using government allocation to distribute goods and services, but this is unlikely to be successful because it ignores market forces. 7 1. In the 1980s and 1990s economists and policymakers have considered M2 the best measure of the money supply. 2. The monetary aggregates move broadly together over long periods of time, although there have been significant differences in their movements during certain periods. 1. As we see monetary aggregates move together broadly over long periods of time, their growth rates diverge during some periods. 第三章 什么是货币 * 货币（货币供给，money supply）：在产品和服务支付以及债务偿还中被普遍接受的东西。 通货（currency）：纸币或硬币 经济学家将通货、活期存款和其他用作支付物的货币形式与财富进行了区分。 财富（wealth）指用于价值储藏的各项财产总和，不仅包括货币、还包括债券、普通股、艺术品、土地、家具、汽车和房屋。 什么是货币 Characteristics of Money Portable易于携带 Divisible易于分割 Durable不易腐烂 Stable 价值稳定 The Functions of Money Medium of Exchang 交易媒介 Store of Value 价值储藏 Unit of Account 计价单位 * 货币的功能 * 交易媒介、记账单位、价值储