宏观经济管理学与财务知识分析（英文版）.pptVIP

The Money Stock To reduce the monetary base, the Federal Reserve sells short-term government securities To increase the monetary base, the Federal Reserve buys short-term government securities These transactions are called open market operations Figure 8.5 - Open Market Operations The Money Stock The Federal Reserve directly controls the monetary base The other measures of the money stock are determined by the interaction of the monetary base with the banking sector regulatory requirements the incentive of financial institutions to have enough funds on hand to satisfy depositors’ demands The M