当货币供给一次性增加以后本币汇率的瞬间贬值程度大于长期贬值程度.pptVIP

Money, Interest Rates, Exchange Rates Determination of exchange rates: How interest rates are determined; How expectations of future exchange rates are formed. Money? Distinguish money from other assets As a Medium of Exchange As a Unit of Account As a Store of Value Money Supply = the monetary aggregate the Federal Reserve calls M1. =the total amount of currency and checking deposits held by households and firms. Demand for money by individuals Amount of money an individual desire to hold Expected return (money and other assets) Riskiness of the asset’s expected return The asset’s liquidity