1 / 20
文档名称:

【PPT精品课件】货币金融学7版英文课件--ch26-大学课.ppt

格式:ppt   大小:453KB   页数:20页
下载后只包含 1 个 PPT 格式的文档,没有任何的图纸或源代码,查看文件列表

如果您已付费下载过本站文档,您可以点这里二次下载

分享

预览

【PPT精品课件】货币金融学7版英文课件--ch26-大学课.ppt

上传人:孔乙己 2022/8/6 文件大小:453 KB

下载得到文件列表

【PPT精品课件】货币金融学7版英文课件--ch26-大学课.ppt

相关文档

文档介绍

文档介绍:2020
【PPT精品课件】货币金融学7版英文课件--ch26-大学课
Statistical Evidence
Horse race: correlation of A vs M with Y; Friedman and Meic goods relatively less expensive and NX .
Recent work indicates that the exchange rate transmission mechanism plays an important role in how monetary policy affects the economy.
11
© 2005 Pearson Education Canada Inc.
Monetary Transmission Mechanisms
Other Asset Channels
Tobin’s q Channel:

where MVF = market value of firms and RCC = replacement cost of capital. If q is high, MFV is high relative to RCC, and new plant and equipment capital is cheap relative to the market value of firms. In this case, companies can issue stock and get a high price for it relative to the cost of the facilities and equipment they are buying. I  because firms can buy a lot of new investment goods with only a small issue of stock.
The transmission mechanism for monetary policy is
M , Pe , q , I , Y 
where Pe is the price of equity (not the expected price level)
12
© 2005 Pearson Education Canada Inc.
Monetary Transmission Mechanisms
Other Asset Channels
Wealth Channel:
Was introduced by Franco Modigliani in his famous “life cycle hypothesis of consumption.” He argued that the most important transmission mechanism of monetary policy involves consumption. Considering that an expansionary monetary policy  stock prices, the wealth transmission mechanism works as follows:
M , Pe , W , C , Y 
Note: Tobin’s q and wealth mechanisms allow for a general definition of equity that includes housing and land. For example, an  in house prices, which  their value relative to replacement cost,  Tobin’s q for housing, thereby stimulating its production. Also, an  in housing and land prices  W, thereby  C and Y.
13
© 2005 Pearson Education Canada Inc.
Credit View
This view proposes that two types of monetary transmission channels ari

最近更新

中俄利用外资比较——以直接投资(FDI)为例的任.. 2页

严羽诗学的文化观照的中期报告 1页

2024年退公积金申请书精选8篇 5页

两种天然药物的化学成分研究及其细胞毒试验的.. 2页

2024年跟故事有关的作文优质7篇 8页

2024年赞助合同模板5篇 12页

金属精加工的工艺技术与自动化控制 21页

丙烯酰胺的食品检测和毒性研究的中期报告 2页

专题搜索引擎关键技术的研究的中期报告 2页

2024年读了神笔马良的读后感7篇 8页

2024年请保姆签劳务合同7篇 20页

不完备信息系统知识约简方法及应用研究的中期.. 3页

2024年试用期转正工作总结范文9篇 11页

2024年让我们一起向未来演讲稿5篇 11页

2024年西西游记读后感800字7篇 11页

不同剪接频率外显子的组成特征分析的任务书 2页

2024年蚂蚁搬西瓜教案中班6篇 17页

上市公司资产重组绩效评价的研究的中期报告 2页

管理经济学1绪论 25页

2024年航次租船合同5篇 35页

三种天南星科植物内生固氮菌分离及特性研究的.. 2页

2024年翠鸟教学教学反思6篇 15页

外科护理学网考复习题及答案 6页

万顺煤炭公司成本管理研究的任务书 2页

背调授权书模板 4页

Python语言程序设计(美-梁勇)第6章习题解答(英.. 3页

地籍测量技术设计书 10页

泸州公租房申请条件 3页

英语试题双向细目表模板(范例) 2页

最新《施工现场临时用电安全技术规范》(JGJ46.. 7页