第二章 Money, banking and the economy
1 p; L. M3 \7 y# B( ]# y! L 1）Function of money9 k7 W6 n3 S- W& N |: K# A, S
1. Medium of exchange
% r Y; o% R# j/ a% [3 H Y2 O4 N 2. Store of value2 u8 m5 y% [: d5 H9 G" N+ U) T/ \: J
3. A unit of account (standard of value) e- o: w, }3 {( j4 O: n. w( ~
4. Standard of deferred payment
0 X. ?) B. Q" p; g 2）Characteristic of money
6 }8 I1 P9 P; t7 ^3 T 1. Portability" Z0 \% l; u9 G9 ~7 _# W
2. Divisibility& ?- b# K/ H# \( ]/ l3 A
3. Homogeneity and identifiability7 [1 ]. f7 b$ s
4. Durability5 \& R# b; J) ~& _
5. Scarcity
/ K/ w" Z* D3 \% |* I F+ F 6. Purchasing power stability
9 |* v1 E+ j% \9 x+ A' S 3）Type of money
. j, W7 U. }" M, V) s* }# Y 1. Token money5 c* d3 ^9 j) t
2. Cheque account deposits
; t( O* W" y F: G- M) w/ P, | 3. Commodity money
' C6 E. @% q# t/ C. B7 W: ]& R1 A 4）Cheque itself is not “money”; it is only the amount of money in the relevant account, which is considered to be “money”.
, Q" y5 z. o, X m- b 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.2 l' i5 i2 }3 x& `5 O
6）Money multiplier=1/R/ @9 D9 N- m4 B7 X6 |) k, a
7） M1: the sum of legal tender coins and notes held by the public +the customers’ demand deposits placed with licensed bank. Q& ^6 i, E; ?7 ^8 E" B
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
& u& I0 p6 b/ K 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
