第二章 Money, banking and the economy
4 R' \! J5 w d& J9 G3 q$ ^ 1）Function of money
1 b5 U' s: O$ N6 L/ P 1. Medium of exchange
# {3 M: R' g7 }: o5 M+ S 2. Store of value5 K3 }) O6 t# W+ o3 q
3. A unit of account (standard of value)6 H4 k3 Q( _# g5 }" |( }7 e. w5 x
4. Standard of deferred payment# w4 r$ b' W z
2）Characteristic of money
6 ]6 @1 V* h( u a% p. R8 f 1. Portability
z# b! m* l, k/ E4 }& E5 u 2. Divisibility3 W; Z- T6 L$ w2 h) t( [
3. Homogeneity and identifiability1 V* Y" M$ [8 ]1 [3 q1 S# [! s: ^
4. Durability
; ]* `; h7 ]7 y+ M7 S; x4 h 5. Scarcity
: ]5 j1 `' m, T6 G* m# K/ ?2 J. H 6. Purchasing power stability
, y3 x& q2 @/ u1 j 3）Type of money
1 ]; A5 _; p2 s3 K% K# k 1. Token money
6 a$ J- j' _& c 2. Cheque account deposits# ^/ D5 s& p- l: H" Y1 `
3. Commodity money7 I# _/ @. m$ O5 q1 P0 C" U9 q
4）Cheque itself is not “money”; it is only the amount of money in the relevant account, which is considered to be “money”.
3 C8 P9 K6 N( Q) f 5）A required reserve ratio is a fraction of the deposits of the public that a bank hold in reserves; that is, the minimum amount of reserves a bank must, by law, keep either in currency or in deposits with the central bank.
% V4 c+ |; c/ v8 t2 J 6）Money multiplier=1/R
0 W# {+ D( i4 s' j 7） M1: the sum of legal tender coins and notes held by the public +the customers’ demand deposits placed with licensed bank" f/ Y* W y9 y9 `
M2: the sum of M1+customer’s saving and time deposits with licensed banks + negotiable certificates of deposits (NCDs) issued by licensed banks held outside the banking sector
x' x! p! c5 x. M M3: the sum of M2+customer deposits with restricted license bank (RLB) and deposit-taking companies (DTCs) +negotiable certificate of deposits (NCDs) issued by these institutions held outside the banking sector. |
发表于 2012-8-16 08:44:06
