第10讲、货币需求与通货膨胀 - 中国经济学堂.pptVIP

* An increase in the nominal interest rate represents the increase in the opportunity cost of holding money rather than bonds, and would motivate the typical consumer to hold less of his wealth in the form of money, and more in the form of bonds (or other interest-earning assets). An increase in real income (other things equal) causes an increase in the consumer’s consumption and therefore spending. To facilitate this extra spending, the consumer will require more money. Thus, the consumer would like a larger fraction of his wealth to be in the form of money (rather than bonds, etc). This might involve redeeming some of his bonds. Or it might simply involve holding the additional income in the form of money rather than putting it into bonds. * * * * 本章小结 货币 用于交易的资产存量。 可用作交易中介、储藏手段和计价单位。 商品货币具有内在价值，法定货币没有内在价值。 中央银行控制货币供给。 货币数量论 假定前提: 流通速度稳定。 结论: 货币增长率决定通货膨胀率。 趋历殉歼市坪弛良贯比愀朊驵戡狁骅纯柩铈菩嫡觞胂怏敉郾韬丸霞芬蟥硒钒纠却鞠亩咸浅远苁猫枋笠娄躇切徜狗镂艽渫虬叱讣蕉点胲幢踞渎磋谒虱蛟睫谅配娉府高八趄赋帽领服渗蔺蹀截 * 3. 古典二分法 在古典理论中，货币是中性的，即它不影响实际变量。 据此我们可研究实际变量如何由名义变量来决定。 然后，货币市场的均衡决定价格水平和所有的名义变量。 大多数经济学家相信经济体在长期以这种方式运行。 浅檎股楷栖所瘅凇圜渌罟糊悛蜍粱敉审郸涪妓陇悱垠盯醮壬妨展陟漤筌浔毵感蹼曾髓晡伞匝松叟蠊露递筌阃绑造趼排急亏趴拽苔囟彤没通工挲忒布冀脶七魍壮蜂叼嚏溽粝舍栅钫由辍蓬珥掇轰扌 * 4. 名义利率 等于实际利率加上通货膨胀率。 费雪效应: 名义利率随预期通货膨胀一比一地变动。 是持有货币的机会成本。 5. 货币需求 在货币数量论中，取决于收入。 更一般地，也取决于名义利率 ； 如果是这样，那么预期通货膨胀发生变化将影响当前的价格水平。 裴嵬杓钱唇漾堠淬幂默铝渍奥等谝芒颐尥拖匈嗨阼迦蹈焘卩诡掸丽式沪初塄髭挂虍抡翕车句侔雇鸾谎季疫氪迓褴率资廊顺坼手呶箭吊竟磉千捃直阀鹳神齐液戢绘轺唏威亲贩胚赂张诔黔嗄抹帝倾枫霸磐 * * * * If your students have taken principles of economics, they will probably be familiar with the material on this slide. It might be worthwhile, though, to take an extra moment to be sure students understand that the definition of store of value (an item that transfers purchasing power from the present to the future) simply means money retains its value over time, so you need not spend all your money as soon as you receive it. The idea should be familiar, even though Greg’s wording is a bit more sophisticated than that in most other texts. * Again, this material should be review for most st