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Central Banks and the Money Supply
內容大綱
Money and Banking: An Intermediate Market-Based Approach is a six-chapter book published by Business Expert Press in 2017 and written by William D. Gerdes, Professor of Economics at Clarke University. This book is intended to give students a broad understanding of money and how the money we use today differs from money used in the past and money discovered in isolated subcultures. It examines money as a medium of exchange, a fundamental ingredient in credit markets, and an instrument of monetary policy. In Chapter 4, the author discusses the role of banks as both depository institutions and conduits for the implementation of monetary policy. He outlines the money supply model (M = B (m)), which is used to examine factors that determine the total quantity of money in an economy. Gerdes then discusses four general instruments of monetary policy: open market operations, discount window/discount rate, reserve ratio requirements, and interest payments on bank reserves. He also discusses systems in which a central bank directs credit to specific markets using selective credit controls.