1
kinh t vξ˜‚ mΓ΄
bn thξ˜‚ nξ˜ƒm
N. Gregory Mankiw
BΓ i ging cξ˜„a TS Phξ˜…m Thξ˜† Anh
pham.theanh@yahoo.com
(dξ˜‡ch vΓ  sa theo bΓ i ging cξ˜„a Ron Cronovich)
macro
Β© 2002 Worth Publishers, all rights reserved
CHξ˜ƒξ˜„NG 18
Cung Tiξ˜…n
vΓ  Cξ˜†u Tiξ˜…n
CHAPTER 18
CHAPTER 18
Money Supply and Money Demand
Money Supply and Money Demand
slide 1
Mξ˜‡c tiΓͺu ca chξ˜‰ξ˜Šng
Mξ˜‡c tiΓͺu ca chξ˜‰ξ˜Šng

ξ˜ξ˜‚ξ˜ƒξ˜„ξ˜…ξ˜†ξ˜‡ξ˜ˆξ˜ƒ
ξ˜‰ξ˜Šξ˜‹ξ˜…ξ˜†ξ˜Šξ˜Œξ˜ƒξ˜„ξ˜…ξ˜ƒξ˜„ξ˜ξ˜ƒξ˜…ξ˜Šξ˜Žξ˜ƒξ˜„ξ˜…ξ˜ξ˜†ξ˜ξ˜‘ξ˜’ξ˜…ξ˜†ξ˜‡ξ˜ˆξ˜ƒξ˜…ξ˜ƒξ˜Šξ˜“ξ˜…ξ˜†ξ˜Šξ˜”ξ˜…ξ˜ƒξ˜Žξ˜‘
ξ˜‰ξ˜•ξ˜–ξ˜…ξ˜—ξ˜˜ξ˜—ξ˜Šξ˜…ξ˜™ξ˜‡ξ˜šξ˜›ξ˜…ξ˜œξ˜‘ξ˜˜ξ˜†ξ˜…ξ˜—ξ˜‚ξ˜ƒξ˜„ξ˜…ξ˜†ξ˜‡ξ˜ˆξ˜ƒξ˜…ξ˜—ξ˜ξ˜–ξ˜…ξ˜žξ˜Ÿ !
ξ˜‰ξ˜†ξ˜ξ˜‡ξ˜…ξ˜œξ˜–ξ˜‘ξ˜…ξ˜žξ˜Ÿ !ξ˜…ξ˜™ξ˜Š"ξ˜ƒξ˜„ξ˜…ξ˜†ξ˜Šξ˜šξ˜…ξ˜™ξ˜‡ξ˜šξ˜›ξ˜…ξ˜œξ˜‘ξ˜˜ξ˜†ξ˜…ξ˜—ξ˜‚ξ˜ƒξ˜„ξ˜…
ξ˜†ξ˜‡ξ˜ˆξ˜ƒξ˜…ξ˜›#ξ˜†ξ˜…ξ˜—ξ˜˜ξ˜—ξ˜Šξ˜…ξ˜—ξ˜Š$ξ˜ƒξ˜Šξ˜…%ξ˜˜ξ˜—
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ξ˜ξ˜˜ξ˜—ξ˜…&'ξ˜…ξ˜†ξ˜Šξ˜‚(ξ˜”ξ˜†ξ˜…)ξ˜ˆξ˜…ξ˜—*ξ˜‚ξ˜…ξ˜†ξ˜‡ξ˜ˆξ˜ƒ
ξ˜‰&'ξ˜…ξ˜†ξ˜Šξ˜‚(ξ˜”ξ˜†ξ˜…+ξ˜–ξ˜ƒξ˜Šξ˜…ξ˜›,ξ˜—ξ˜…-*ξ˜‚ξ˜…ξ˜†ξ˜“
ξ˜‰&'ξ˜…ξ˜†ξ˜Šξ˜‚(ξ˜”ξ˜†ξ˜…ξ˜„ξ˜‡ξ˜–ξ˜‘ξ˜…+.ξ˜—ξ˜Š/ ξ˜›"ξ˜…ξ˜Š0ξ˜ƒξ˜Š 1ξ˜–ξ˜‚ξ˜›ξ˜‘&2 ξ˜‘ξ˜•ξ˜‡ξ˜ƒ
CHAPTER 18
CHAPTER 18
Money Supply and Money Demand
Money Supply and Money Demand
slide 2
Vai trò ca cÑc ngÒn hàng
Vai trò ca cÑc ngÒn hàng
ξ˜‹
ξ˜‹ξ˜Œi vi cung tiξ˜…n
i vi cung tiξ˜…n

ξ˜ξ˜‚ξ˜ƒξ˜„ξ˜…ξ˜†ξ˜‡ξ˜ˆξ˜ƒξ˜…ξ˜•3ξ˜ƒξ˜„ξ˜…)4ξ˜‡ξ˜…&ξ˜“5ξ˜ƒξ˜„ξ˜…ξ˜†ξ˜‡ξ˜ˆξ˜ƒξ˜…ξ˜›6ξ˜†ξ˜…ξ˜—#ξ˜ƒξ˜„ξ˜…)4ξ˜‡ξ˜…
ξ˜—ξ˜˜ξ˜—ξ˜…ξ˜™ξ˜Šξ˜‘7ξ˜ƒξ˜…ξ˜†ξ˜‡ξ˜ˆξ˜ƒξ˜…ξ˜„8ξ˜‡ξ˜…ξ˜—9ξ˜…ξ˜†ξ˜Šξ˜šξ˜…:;ξ˜†ξ˜…ξ˜†ξ˜Š<ξ˜‘ξ˜…(=ξ˜‚ξ˜…ξ˜—*ξ˜‚ξ˜…
>ξ˜†ξ˜Žξ˜‡ξ˜…ξ˜™ξ˜Šξ˜‘7ξ˜ƒξ˜…ξ˜—9ξ˜…ξ˜†ξ˜Šξ˜šξ˜…)ξ˜‡ξ˜”ξ˜†ξ˜…ξ˜œ?ξ˜—@ξ˜…/
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Aξ˜…ξ˜…
ξ˜‚
Bξ˜…ξ˜…
ξ˜ƒ

Cξ˜‘ξ˜…ξ˜—ξ˜‚ξ˜ƒξ˜„ξ˜…ξ˜†ξ˜‡ξ˜ˆξ˜ƒξ˜…ξ˜•ξ˜–ξ˜‘ξ˜…ξ˜„Dξ˜›ξ˜…ξ˜—7ξ˜…ξ˜—ξ˜˜ξ˜—ξ˜…ξ˜™ξ˜Šξ˜‘7ξ˜ƒξ˜…ξ˜†ξ˜‡ξ˜ˆξ˜ƒξ˜…ξ˜„8ξ˜‡ξ˜…
ξ˜—9ξ˜…ξ˜†ξ˜Šξ˜šξ˜…:;ξ˜†ξ˜…ξ˜†ξ˜Š<ξ˜‘ξ˜…(=ξ˜‚ξ˜…ξ˜—*ξ˜‚ξ˜…ξ˜ƒ=ξ˜ƒξ˜…ξ˜Šξ˜‹ξ˜…ξ˜†ξ˜Šξ˜Œξ˜ƒξ˜„ξ˜…ξ˜ƒξ˜„ξ˜ξ˜ƒξ˜…
ξ˜Šξ˜Žξ˜ƒξ˜„ξ˜…-9ξ˜ƒξ˜„ξ˜…ξ˜›#ξ˜†ξ˜…)ξ˜–ξ˜‡ξ˜…ξ˜†:Eξ˜…Fξ˜‚ξ˜–ξ˜ƒξ˜…ξ˜†:Gξ˜ƒξ˜„H
CHAPTER 18
CHAPTER 18
Money Supply and Money Demand
Money Supply and Money Demand
slide 3
Mt vΓ i khΓ‘i niξ˜‚m sξ˜ƒ b
Mt vΓ i khΓ‘i niξ˜‚m sξ˜ƒ b
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ξ˜ƒξ˜„ξ˜…ξ˜†ξ˜‡ξ˜ˆ>
ξ˜‰
@/ξ˜…ξ˜…&ξ˜Žξ˜…I*ξ˜ƒξ˜…ξ˜†ξ˜‡ξ˜ˆξ˜ƒξ˜…ξ˜„8ξ˜‡ξ˜…ξ˜›ξ˜Žξ˜…ξ˜ƒξ˜„ξ˜ξ˜ƒξ˜…ξ˜Šξ˜Žξ˜ƒξ˜„ξ˜…
ξ˜™ξ˜Š"ξ˜ƒξ˜„ξ˜…ξ˜—ξ˜Šξ˜‘ξ˜…)ξ˜–(H
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Jξ˜Œξ˜‡ξ˜…)4ξ˜‡ξ˜…ξ˜›#ξ˜†ξ˜…ξ˜ƒξ˜„ξ˜ξ˜ƒξ˜…ξ˜Šξ˜Žξ˜ƒξ˜„Kξ˜…ξ˜†ξ˜Žξ˜‡ξ˜…ξ˜œ7ξ˜ƒξ˜…ξ˜ƒ5ξ˜…ξ˜•ξ˜–ξ˜‘ξ˜…ξ˜„Dξ˜›ξ˜…ξ˜—ξ˜˜ξ˜—ξ˜…
ξ˜™ξ˜Šξ˜‘7ξ˜ƒξ˜…ξ˜†ξ˜‡ξ˜ˆξ˜ƒξ˜…ξ˜„8ξ˜‡Kξ˜…ξ˜†ξ˜Žξ˜‡ξ˜…ξ˜œ7ξ˜ƒξ˜…ξ˜—9ξ˜…ξ˜•ξ˜–ξ˜‘ξ˜…ξ˜„Dξ˜›ξ˜…+Lξ˜…ξ˜†:Mξ˜…)ξ˜Žξ˜…ξ˜—ξ˜˜ξ˜—ξ˜…
ξ˜™ξ˜Šξ˜‘7ξ˜ƒξ˜…ξ˜—ξ˜Šξ˜‘ξ˜…)ξ˜–(
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ξ˜Šξ˜‹ξ˜Œξ˜Šξ˜…ξ˜ξ˜Žξ˜Šξ˜‹ξ˜…ξ˜ξ˜ξ˜…ξ˜‘ξ˜’ξ˜’ξ˜“ ξ˜…ξ˜”ξ˜„ξ˜…ξ˜†ξ˜‡ξ˜ˆ/ &ξ˜Žξ˜…ξ˜Šξ˜‹ξ˜…ξ˜†ξ˜Šξ˜Œξ˜ƒξ˜„ξ˜…ξ˜†:ξ˜‘ξ˜ƒξ˜„ξ˜…
-9ξ˜…ξ˜—ξ˜˜ξ˜—ξ˜…ξ˜ƒξ˜„ξ˜ξ˜ƒξ˜…ξ˜Šξ˜Žξ˜ƒξ˜„ξ˜…ξ˜„ξ˜‡Mξ˜…ξ˜†ξ˜‘ξ˜Žξ˜ƒξ˜…ξ˜•#ξ˜…ξ˜†ξ˜‡ξ˜ˆξ˜ƒξ˜…ξ˜„8ξ˜‡ξ˜…ξ˜ƒξ˜ŠNξ˜ƒξ˜…-ξ˜“5ξ˜—ξ˜…
+ξ˜“4ξ˜‡ξ˜…+ξ˜ξ˜ƒξ˜„ξ˜…+Lξ˜…ξ˜†:MH
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ξ˜Šξ˜‹ξ˜Œξ˜Šξ˜…ξ˜ξ˜Žξ˜Šξ˜‹ξ˜…ξ˜”ξ˜„ξ˜…ξ˜†ξ˜‡ξ˜ˆξ˜…ξ˜•ξ˜–ξ˜†ξ˜…ξ˜—ξ˜ξ˜˜ξ˜Š/
&ξ˜Žξ˜…ξ˜Šξ˜‹ξ˜…ξ˜†ξ˜Šξ˜Œξ˜ƒξ˜„ξ˜…ξ˜†:ξ˜‘ξ˜ƒξ˜„ξ˜…-9ξ˜…ξ˜—ξ˜˜ξ˜—ξ˜…ξ˜ƒξ˜„ξ˜ξ˜ƒξ˜…ξ˜Šξ˜Žξ˜ƒξ˜„ξ˜…ξ˜„ξ˜‡Mξ˜…ξ˜›#ξ˜†ξ˜…I*ξ˜ƒξ˜…
ξ˜†ξ˜‡ξ˜ˆξ˜ƒξ˜…ξ˜„8ξ˜‡ξ˜…+ξ˜“4ξ˜‡ξ˜…+ξ˜ξ˜ƒξ˜„ξ˜…+Lξ˜…ξ˜†:MH
CHAPTER 18
CHAPTER 18
Money Supply and Money Demand
Money Supply and Money Demand
slide 4
Tình hung
Tình hung 1:
1:
KhΓ΄ng cΓ³ ngΓ’n hΓ ng
KhΓ΄ng cΓ³ ngΓ’n hΓ ng
Oξ˜Šξ˜‡ξ˜…ξ˜™ξ˜Š"ξ˜ƒξ˜„ξ˜…ξ˜—9ξ˜…ξ˜ƒξ˜„ξ˜ξ˜ƒξ˜…ξ˜Šξ˜Žξ˜ƒξ˜„K
ξ˜ƒ
Aξ˜…Pξ˜…ξ˜…)

Aξ˜…ξ˜…
ξ˜‚
Aξ˜…ξ˜…QRPPPH
CHAPTER 18
CHAPTER 18
Money Supply and Money Demand
Money Supply and Money Demand
slide 5
Tình hung
Tình hung 2:
2:
NgÒn hàng vi 100% d tr
NgÒn hàng vi 100% d tr
Sξ˜–ξ˜‚ξ˜…ξ˜™ξ˜Šξ˜‡ξ˜…ξ˜„8ξ˜‡ξ˜…ξ˜†ξ˜‡ξ˜ˆξ˜ƒK
ξ˜‚Aξ˜…QPKξ˜…ξ˜…
ξ˜ƒAξ˜…QRPPPKξ˜…ξ˜…ξ˜…
Aξ˜…QRPPPHξ˜…

ξ˜žξ˜„ξ˜ξ˜ƒξ˜…ξ˜Šξ˜Žξ˜ƒξ˜„ξ˜…)4ξ˜‡ξ˜…
RPPTξ˜…+Lξ˜…ξ˜†:Mξ˜…
ξ˜™ξ˜Š"ξ˜ƒξ˜„ξ˜…ξ˜—9ξ˜…ξ˜†ξ˜˜ξ˜—ξ˜…-#ξ˜ƒξ˜„ξ˜…
ξ˜„0ξ˜…-ξ˜”ξ˜ƒξ˜…Fξ˜‚(ξ˜…ξ˜›"ξ˜…ξ˜—ξ˜ξ˜–ξ˜…
ξ˜—ξ˜‚ξ˜ƒξ˜„ξ˜…ξ˜†ξ˜‡ξ˜ˆξ˜ƒH
Bng cΓ’n ξ˜‚ξ˜ƒi cξ˜„a
NGΓ‚N HΓ€NG THξ˜… NHξ˜†T
TΓ i sn cΓ³ TΓ i sn nξ˜‚
dξ˜ƒ trξ˜„$1000 tiξ˜…n gξ˜†i $1000
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1ξ˜–ξ˜ƒξ˜…-*ξ˜‚ ξ˜‚Aξ˜…QRPPPKξ˜…ξ˜…ξ˜ƒAξ˜…QPKξ˜…ξ˜…ξ˜Aξ˜…QRPPPHξ˜…
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1(ξ˜…ξ˜„ξ˜‡Uξ˜…ξ˜„ξ˜‡7ξ˜…ξ˜œ8ξ˜…ξ˜—ξ˜˜ξ˜—ξ˜…ξ˜Š#ξ˜…ξ˜„ξ˜‡ξ˜–ξ˜…-0ξ˜ƒξ˜Šξ˜…ξ˜„8ξ˜‡ξ˜…QRPPPξ˜…)ξ˜Žξ˜‘
ξ˜ξ˜žξ˜„ξ˜ξ˜ƒξ˜…ξ˜Šξ˜Žξ˜ƒξ˜„ξ˜…ξ˜†ξ˜ŠVξ˜…ξ˜ƒξ˜ŠWξ˜†ξ˜’
2
CHAPTER 18
CHAPTER 18
Money Supply and Money Demand
Money Supply and Money Demand
slide 6
Tình hung
Tình hung 3:
3:
NgΓ’n hΓ ng d tr mt phξ˜†n
NgΓ’n hΓ ng d tr mt phξ˜†n
ξ˜ξ˜‚ξ˜ƒξ˜„ξ˜…ξ˜†ξ˜‡ξ˜ˆξ˜ƒξ˜…ξ˜•ξ˜(ξ˜…ξ˜„ξ˜‡Uξ˜…&
QRXPP/
ξ˜žξ˜„ξ˜“Uξ˜‡ξ˜…ξ˜„8ξ˜‡ξ˜…ξ˜†ξ˜‡ξ˜ˆξ˜ƒξ˜…)Yξ˜ƒξ˜…
ξ˜—9ξ˜…QRPPPξ˜…ξ˜†ξ˜‡ξ˜ˆξ˜ƒξ˜…ξ˜„8ξ˜‡ξ˜…
ξ˜—9ξ˜…ξ˜†ξ˜Šξ˜šξ˜…:;ξ˜†ξ˜…ξ˜†ξ˜Š<ξ˜‘ξ˜…(=ξ˜‚ξ˜…
ξ˜—*ξ˜‚K
ξ˜†ξ˜‚(ξ˜…ξ˜ƒξ˜Šξ˜‡=ξ˜ƒξ˜…ξ˜„ξ˜‡Uξ˜…-(ξ˜…
ξ˜ƒξ˜„ξ˜“Uξ˜‡ξ˜…-ξ˜‡ξ˜…)ξ˜–(ξ˜…ξ˜—9ξ˜…
QXPPξ˜…ξ˜†ξ˜‡ξ˜ˆξ˜ƒξ˜…ξ˜›6ξ˜†H
Bng cΓ’n ξ˜‚ξ˜ƒi cξ˜„a
NGΓ‚N HΓ€NG THξ˜… NHξ˜†T
TΓ i sn cΓ³ TΓ i sn nξ˜‚
tiξ˜…n gξ˜†i $1000

Zξ˜‡7ξ˜…ξ˜œ8ξ˜…ξ˜—ξ˜˜ξ˜—ξ˜…ξ˜ƒξ˜„ξ˜ξ˜ƒξ˜…ξ˜Šξ˜Žξ˜ƒξ˜„ξ˜…ξ˜„ξ˜‡Mξ˜…[PTξ˜…ξ˜†ξ˜‡ξ˜ˆξ˜ƒξ˜…ξ˜„8ξ˜‡ξ˜…+ξ˜“4ξ˜‡ξ˜…+ξ˜ξ˜ƒξ˜„ξ˜…
+Lξ˜…ξ˜†:MKξ˜…)ξ˜Žξ˜…ξ˜—ξ˜Šξ˜‘ξ˜…)ξ˜–(ξ˜…I*ξ˜ƒξ˜…ξ˜—Eξ˜ƒξ˜…&ξ˜ξ˜‡H

ξ˜žξ˜„ξ˜ξ˜ƒξ˜…ξ˜Šξ˜Žξ˜ƒξ˜„ξ˜…ξ˜†ξ˜ŠVξ˜…ξ˜ƒξ˜ŠWξ˜†ξ˜…ξ˜œ\ξ˜…ξ˜—ξ˜Šξ˜‘ξ˜…)ξ˜–(ξ˜…QXPPH
reserves $1000
dξ˜ƒ trξ˜„$200
cho vay $800
CHAPTER 18
CHAPTER 18
Money Supply and Money Demand
Money Supply and Money Demand
slide 7
Tình hung
Tình hung 3:
3:
NgΓ’n hΓ ng d tr mt phξ˜†n
NgΓ’n hΓ ng d tr mt phξ˜†n
ξ˜ξ˜‚ξ˜ƒξ˜„ξ˜…ξ˜†ξ˜‡ξ˜ˆξ˜ƒξ˜…ξ˜•ξ˜(ξ˜…ξ˜„ξ˜‡Uξ˜…&ξ˜Žξ˜…
QRXPP/
ξ˜žξ˜„ξ˜“Uξ˜‡ξ˜…ξ˜„8ξ˜‡ξ˜…ξ˜†ξ˜‡ξ˜ˆξ˜ƒξ˜…)Yξ˜ƒξ˜…
ξ˜—9ξ˜…QRPPPξ˜…ξ˜†ξ˜‡ξ˜ˆξ˜ƒξ˜…ξ˜„8ξ˜‡ξ˜…
ξ˜—9ξ˜…ξ˜†ξ˜Šξ˜šξ˜…:;ξ˜†ξ˜…ξ˜†ξ˜Š<ξ˜‘ξ˜…(=ξ˜‚ξ˜…
ξ˜—*ξ˜‚K
ξ˜†ξ˜‚(ξ˜…ξ˜ƒξ˜Šξ˜‡=ξ˜ƒξ˜…ξ˜„ξ˜‡Uξ˜…-(ξ˜…
ξ˜ƒξ˜„ξ˜“Uξ˜‡ξ˜…-ξ˜‡ξ˜…)ξ˜–(ξ˜…ξ˜—9ξ˜…
QXPPξ˜…ξ˜†ξ˜‡ξ˜ˆξ˜ƒξ˜…ξ˜›6ξ˜†H
Bng cΓ’n ξ˜‚ξ˜ƒi cξ˜„a
NGΓ‚N HΓ€NG THξ˜… NHξ˜†T
TΓ i sn cΓ³ TΓ i sn nξ˜‚
dξ˜ƒ trξ˜„$200
cho vay $800
tiξ˜…n gξ˜†i $1000
Cξ˜‘ξ˜…)N(Kξ˜…ξ˜†:ξ˜‘ξ˜ƒξ˜„ξ˜…ξ˜Šξ˜‹ξ˜…ξ˜†ξ˜Šξ˜Œξ˜ƒξ˜„ξ˜…ξ˜ƒξ˜„ξ˜ξ˜ƒξ˜…ξ˜Šξ˜Žξ˜ƒξ˜„ξ˜…+Lξ˜…ξ˜†:Mξ˜…
ξ˜›#ξ˜†ξ˜…I*ξ˜ƒK ξ˜—ξ˜˜ξ˜—ξ˜…ξ˜ƒξ˜„ξ˜ξ˜ƒξ˜…ξ˜Šξ˜Žξ˜ƒξ˜„ξ˜…ξ˜†ξ˜ξ˜‘ξ˜…ξ˜†ξ˜‡ξ˜ˆξ˜ƒH
CHAPTER 18
CHAPTER 18
Money Supply and Money Demand
Money Supply and Money Demand
slide 8
Tình hung 3:
Tình hung 3:
NgΓ’n hΓ ng d tr mt phξ˜†n
NgΓ’n hΓ ng d tr mt phξ˜†n

ξ˜‚(ξ˜…ξ˜ƒξ˜Šξ˜‡=ξ˜ƒξ˜…ξ˜žξ˜„ξ˜ξ˜ƒξ˜…
ξ˜Šξ˜Žξ˜ƒξ˜„ξ˜…ξ˜†ξ˜ŠVξ˜…ξ˜Šξ˜–ξ˜‡ξ˜…ξ˜œ\ξ˜…ξ˜—ξ˜Šξ˜‘ξ˜…
)ξ˜–(XPTξ˜…&ξ˜“5ξ˜ƒξ˜„ξ˜…ξ˜†ξ˜‡ξ˜ˆξ˜ƒξ˜…
ξ˜„8ξ˜‡ξ˜…ξ˜ƒξ˜Ž(

)ξ˜Žξ˜…ξ˜•7ξ˜ƒξ˜„ξ˜…ξ˜—ξ˜ξ˜ƒξ˜…-ξ˜Œξ˜‡ξ˜…ξ˜—ξ˜ξ˜–ξ˜…
ξ˜ƒ9ξ˜…ξ˜œ\ξ˜…ξ˜†ξ˜Šξ˜”ξ˜…ξ˜ƒξ˜Ž(/
Bng cΓ’n ξ˜‚ξ˜ƒi cξ˜„a
NGΓ‚N HΓ€NG THξ˜… HAI
TΓ i sn cΓ³ TΓ i sn nξ˜‚
reserves $800
loans $0
tiξ˜…n gξ˜†i $800

Zξ˜‡7ξ˜…ξ˜œ8ξ˜…ξ˜ƒξ˜„ξ˜“Uξ˜‡ξ˜…-ξ˜‡ξ˜…)ξ˜–(ξ˜…ξ˜„8ξ˜‡ξ˜…QXPPξ˜…)ξ˜Žξ˜‘ξ˜…ξ˜žξ˜„ξ˜ξ˜ƒξ˜…ξ˜Šξ˜Žξ˜ƒξ˜„ξ˜…ξ˜†ξ˜ŠVξ˜…ξ˜Šξ˜–ξ˜‡H

1ξ˜–ξ˜ƒξ˜…-*ξ˜‚K ξ˜•7ξ˜ƒξ˜„ξ˜…ξ˜—ξ˜ξ˜ƒξ˜…-ξ˜Œξ˜‡ξ˜…ξ˜—ξ˜ξ˜–ξ˜…ξ˜žξ˜„ξ˜ξ˜ƒξ˜…ξ˜Šξ˜Žξ˜ƒξ˜„ξ˜…ξ˜†ξ˜ŠVξ˜…ξ˜Šξ˜–ξ˜‡ξ˜…ξ˜—9ξ˜…+ξ˜ξ˜ƒξ˜„
dξ˜ƒ trξ˜„$160
cho vay $640
CHAPTER 18
CHAPTER 18
Money Supply and Money Demand
Money Supply and Money Demand
slide 9
Tình hung 3:
Tình hung 3:
NgΓ’n hΓ ng d tr mt phξ˜†n
NgΓ’n hΓ ng d tr mt phξ˜†n
Bng cΓ’n ξ˜‚ξ˜ƒi cξ˜„a
NGΓ‚N HΓ€NG THξ˜… BA
TΓ i sn cΓ³ TΓ i sn nξ˜‚
reserves $640
loans $0
tiξ˜…n gξ˜†i $640

ξ˜žξ˜”ξ˜‚ξ˜…Q]^Pξ˜…ξ˜ƒξ˜Ž(ξ˜…ξ˜—ξ˜‚ξ˜Œξ˜‡ξ˜…ξ˜—_ξ˜ƒξ˜„ξ˜…&ξ˜ξ˜‡ξ˜…-ξ˜“5ξ˜—ξ˜…ξ˜„8ξ˜‡ξ˜…)ξ˜Žξ˜‘ξ˜…ξ˜žξ˜„ξ˜ξ˜ƒξ˜…ξ˜Šξ˜Žξ˜ƒξ˜„ξ˜…ξ˜†ξ˜ŠVξ˜…ξ˜•ξ˜–K

ξ˜†ξ˜Š0ξ˜…ξ˜žξ˜„ξ˜ξ˜ƒξ˜…ξ˜Šξ˜Žξ˜ƒξ˜„ξ˜…ξ˜†ξ˜ŠVξ˜…ξ˜•ξ˜–ξ˜…ξ˜œ\ξ˜…ξ˜„ξ˜‡Mξ˜…[PTξ˜…+Lξ˜…ξ˜†:MKξ˜…)ξ˜Žξ˜…ξ˜—ξ˜Šξ˜‘ξ˜…)ξ˜–(ξ˜…I*ξ˜ƒξ˜…ξ˜—Eξ˜ƒξ˜…
&ξ˜ξ˜‡/
dξ˜ƒ trξ˜„$128
cho vay $512
CHAPTER 18
CHAPTER 18
Money Supply and Money Demand
Money Supply and Money Demand
slide 10
TΓ¬m tξ˜‘ng lξ˜‰ξ˜’ng tiξ˜…n:
TΓ¬m tξ˜‘ng lξ˜‰ξ˜’ng tiξ˜…n:
ξ˜‡ξ˜ˆξ˜ƒξ˜…ξ˜„8ξ˜‡ξ˜…ξ˜•ξ˜–ξ˜ƒξ˜…-*ξ˜‚ Aξ˜…QRPPP
Bξ˜…ξ˜žξ˜„ξ˜ξ˜ƒξ˜…ξ˜Šξ˜Žξ˜ƒξ˜„ξ˜…ξ˜†ξ˜ŠVξ˜…ξ˜ƒξ˜ŠWξ˜†ξ˜…ξ˜—ξ˜Šξ˜‘ξ˜…)ξ˜–(ξ˜…A Qξ˜…XPP
Bξ˜… ξ˜žξ˜„ξ˜ξ˜ƒξ˜…ξ˜Šξ˜Žξ˜ƒξ˜„ξ˜…ξ˜†ξ˜ŠVξ˜…ξ˜Šξ˜–ξ˜‡ξ˜…ξ˜—ξ˜Šξ˜‘ξ˜…)ξ˜–(Aξ˜…Qξ˜…]^P
Bξ˜… ξ˜žξ˜„ξ˜ξ˜ƒξ˜…ξ˜Šξ˜Žξ˜ƒξ˜„ξ˜…ξ˜†ξ˜ŠVξ˜…ξ˜•ξ˜–ξ˜…ξ˜—ξ˜Šξ˜‘ξ˜…)ξ˜–(Aξ˜…Qξ˜…`R[
Bξ˜… )a
bξ˜ƒξ˜„ξ˜…ξ˜—ξ˜‚ξ˜ƒξ˜„ξ˜…ξ˜†ξ˜‡ξ˜ˆξ˜ƒ Aξ˜…>R
cξ˜‡ξ˜‡
@ξ˜…Γ—
Γ—Γ—
Γ—QRPPPξ˜…
ξ˜†:ξ˜‘ξ˜ƒξ˜„ξ˜…-9ξ˜…ξ˜…
ξ˜‡ξ˜‡
Aξ˜…ξ˜†dξ˜…&ξ˜‹ξ˜…+Lξ˜…ξ˜†:Mξ˜…ξ˜†:=ξ˜ƒξ˜…ξ˜†ξ˜‡ξ˜ˆξ˜ƒξ˜…ξ˜„8ξ˜‡ξ˜…
:ξ˜‘ξ˜ƒξ˜„ξ˜…)$ξ˜…+,ξ˜…ξ˜ƒξ˜Ž(K
ξ˜‡ξ˜‡
Aξ˜…PK[Kξ˜…+ξ˜‘ξ˜…)N(

Aξ˜…ξ˜…Q`PPP
CHAPTER 18
CHAPTER 18
Money Supply and Money Demand
Money Supply and Money Demand
slide 11
QuΓ‘ trΓ¬nh tξ˜“o tiξ˜…n ca hξ˜” thng ngΓ’n hΓ ng
QuΓ‘ trΓ¬nh tξ˜“o tiξ˜…n ca hξ˜” thng ngΓ’n hΓ ng
ξ˜Ÿξ˜‹ξ˜…ξ˜†ξ˜Šξ˜Œξ˜ƒξ˜„ξ˜…ξ˜ƒξ˜„ξ˜ξ˜ƒξ˜…ξ˜Šξ˜Žξ˜ƒξ˜„ξ˜…+Lξ˜…ξ˜†:Mξ˜…ξ˜›#ξ˜†ξ˜…I*ξ˜ƒξ˜…ξ˜—9ξ˜…
ξ˜†ξ˜Šξ˜šξ˜…ξ˜†ξ˜ξ˜‘ξ˜…ξ˜†ξ˜‡ξ˜ˆξ˜ƒKξ˜…ξ˜†ξ˜‚(ξ˜…ξ˜ƒξ˜Šξ˜‡=ξ˜ƒξ˜…ξ˜ƒ9ξ˜…ξ˜™ξ˜Š"ξ˜ƒξ˜„ξ˜…ξ˜†ξ˜ξ˜‘ξ˜…:ξ˜–ξ˜…
ξ˜—ξ˜ξ˜–ξ˜…ξ˜—7ξ˜‡/
ξ˜—ξ˜˜ξ˜—ξ˜…ξ˜™ξ˜Šξ˜‘7ξ˜ƒξ˜…ξ˜—ξ˜Šξ˜‘ξ˜…)ξ˜–(ξ˜…ξ˜—ξ˜ξ˜–ξ˜…ξ˜ƒξ˜„ξ˜ξ˜ƒξ˜…ξ˜Šξ˜Žξ˜ƒξ˜„ξ˜…ξ˜›ξ˜–ξ˜ƒξ˜„ξ˜…
&ξ˜ξ˜‡ξ˜…ξ˜—ξ˜Šξ˜‘ξ˜…ξ˜ƒξ˜„ξ˜“Uξ˜‡ξ˜…-ξ˜‡ξ˜…)ξ˜–(ξ˜…ξ˜ƒξ˜ŠMξ˜ƒξ˜„ξ˜…ξ˜™ξ˜Šξ˜‘7ξ˜ƒξ˜…ξ˜†ξ˜‡ξ˜ˆξ˜ƒξ˜…
ξ˜›4ξ˜‡ξ˜…)ξ˜Žξ˜…ξ˜›#ξ˜†ξ˜…ξ˜™ξ˜Šξ˜‘7ξ˜ƒξ˜…ξ˜ƒ5ξ˜…ξ˜›4ξ˜‡ξ˜…ξ˜†ξ˜“eξ˜ƒξ˜„ξ˜…Vξ˜ƒξ˜„H
3
CHAPTER 18
CHAPTER 18
Money Supply and Money Demand
Money Supply and Money Demand
slide 12
Mt mΓ΄ hΓ¬nh vξ˜… cung tiξ˜…n
Mt mΓ΄ hΓ¬nh vξ˜… cung tiξ˜…n

ξ˜†ξ˜™ξ˜šξ˜Šξ˜…ξ˜ξ˜›ξ˜…ξ˜œξ˜K
ξ˜žξ˜…
Aξ˜…ξ˜…
ξ˜‚
Bξ˜…
ξ˜‰
ξ˜™ξ˜‡ξ˜šξ˜›ξ˜…ξ˜œξ˜‘ξ˜˜ξ˜†ξ˜…ξ˜•fξ˜‡ξ˜…ξ˜ƒξ˜„ξ˜ξ˜ƒξ˜…ξ˜Šξ˜Žξ˜ƒξ˜„ξ˜…ξ˜†:ξ˜‚ξ˜ƒξ˜„ξ˜…ξ˜“eξ˜ƒξ˜„

ξ˜†ξ˜Ÿξ˜… !ξ˜…ξ˜”ξ˜„ξ˜…ξ˜†ξ˜‡ξ˜ˆξ˜…" ξ˜†ξ˜™ξ˜šξ˜Šξ˜…ξ˜‹#ξ˜™K
ξ˜‡ξ˜‡ξ˜…ξ˜…
Aξ˜…ξ˜…
ξ˜‰cξ˜ƒ
I,ξ˜…ξ˜†ξ˜Šξ˜‚#ξ˜—ξ˜…)ξ˜Žξ˜‘ξ˜…ξ˜ƒξ˜ŠMξ˜ƒξ˜„ξ˜…Fξ˜‚(ξ˜…-.ξ˜ƒξ˜Šξ˜…)ξ˜Žξ˜…ξ˜—ξ˜Š$ξ˜ƒξ˜Šξ˜…ξ˜œξ˜˜ξ˜—ξ˜Šξ˜…
ξ˜—ξ˜ξ˜–ξ˜…ξ˜ƒξ˜„ξ˜ξ˜ƒξ˜…ξ˜Šξ˜Žξ˜ƒξ˜„

ξ˜†ξ˜Ÿξ˜… !ξ˜…ξ˜†ξ˜™ξ˜šξ˜Šξ˜…ξ˜•$ξ˜†ξ˜…" ξ˜†ξ˜™ξ˜šξ˜Šξ˜…ξ˜‹#ξ˜™K
ξ˜ξ˜‡
Aξ˜…
ξ˜‚cξ˜ƒ
I,ξ˜…ξ˜†ξ˜Šξ˜‚#ξ˜—ξ˜…)ξ˜Žξ˜‘ξ˜…ξ˜œLξ˜…ξ˜“ξ˜‚ξ˜…ξ˜†ξ˜Š$ξ˜—ξ˜Šξ˜…ξ˜—ξ˜ξ˜–ξ˜…ξ˜—ξ˜˜ξ˜—ξ˜…ξ˜Š#ξ˜…ξ˜„ξ˜‡ξ˜–ξ˜…-0ξ˜ƒξ˜Š
ξ˜—ξ˜˜ξ˜—ξ˜…ξ˜•ξ˜‡ξ˜”ξ˜ƒξ˜…ξ˜ƒξ˜„ξ˜‘ξ˜ξ˜‡ξ˜…ξ˜œξ˜‡ξ˜ƒξ˜Š
CHAPTER 18
CHAPTER 18
Money Supply and Money Demand
Money Supply and Money Demand
slide 13
TΓ¬m cung tiξ˜…n:
TΓ¬m cung tiξ˜…n:
 ξ˜‚ ξ˜ƒ
= +
ξ˜‚ ξ˜ƒ


+
= Γ—
ξ˜• 
= Γ—
ξ˜‚ ξ˜ƒ
+
=
+
R
ξ˜ξ˜‡
ξ˜ξ˜‡ ξ˜‡ξ˜‡
+
=+
ξ˜‚ ξ˜ƒ
ξ˜•ξ˜ž
+
=
ξ˜†:ξ˜‘ξ˜ƒξ˜„ξ˜…-9
(
)
(
)
( ) ( )
ξ˜‚ ξ˜ƒ ξ˜ƒ ξ˜ƒ
ξ˜‚ ξ˜ƒ ξ˜‰ ξ˜ƒ
+
=+
CHAPTER 18
CHAPTER 18
Money Supply and Money Demand
Money Supply and Money Demand
slide 14
S nhΓ’n tiξ˜…n
S nhΓ’n tiξ˜…n

ξ˜žξ˜”ξ˜‚
ξ˜‡ξ˜‡
gξ˜…RKξ˜…ξ˜…ξ˜†ξ˜Š0
ξ˜•
hξ˜…R

ξ˜žξ˜”ξ˜‚ξ˜…ξ˜†ξ˜‡ξ˜ˆξ˜ƒξ˜…ξ˜—eξ˜…ξ˜œfξ˜…ξ˜†ξ˜Šξ˜–(ξ˜…-bξ˜‡ξ˜…ξ˜›#ξ˜†ξ˜…&ξ˜“5ξ˜ƒξ˜„ βˆ†
βˆ†βˆ†
βˆ†

Kξ˜…
ξ˜†ξ˜Š0 βˆ†
βˆ†βˆ†
βˆ†

Aξ˜…ξ˜…
ξ˜•
Γ—
Γ—Γ—
Γ— βˆ†
βˆ†βˆ†
βˆ†


ξ˜•
-ξ˜“5ξ˜—ξ˜…ξ˜„Gξ˜‡ξ˜…& %ξ˜…ξ˜Šξ˜ξ˜Œξ˜Šξ˜…ξ˜†ξ˜™ξ˜šξ˜ŠH
K
 ξ˜• 
= Γ—
+
=+
R
ξ˜†:ξ˜‘ξ˜ƒξ˜„ξ˜…+ξ˜‘ξ˜…ξ˜…
ξ˜ξ˜‡
ξ˜•
ξ˜ξ˜‡ ξ˜‡ξ˜‡
CHAPTER 18
CHAPTER 18
Money Supply and Money Demand
Money Supply and Money Demand
slide 15
BΓ i tξ˜•p
BΓ i tξ˜•p
Zξ˜‡7ξ˜…ξ˜œ8ξ˜…ξ˜—ξ˜˜ξ˜—ξ˜…ξ˜Š#ξ˜…ξ˜„ξ˜‡ξ˜–ξ˜…-0ξ˜ƒξ˜Šξ˜…Fξ˜‚(ξ˜”ξ˜†ξ˜…-.ξ˜ƒξ˜Šξ˜…ξ˜„ξ˜‡Mξ˜…
ξ˜ƒξ˜Šξ˜‡ξ˜ˆξ˜‚ξ˜…ξ˜†ξ˜‡ξ˜ˆξ˜ƒξ˜…ξ˜›6ξ˜†ξ˜…)ξ˜Žξ˜…$ξ˜†ξ˜…ξ˜†ξ˜‡ξ˜ˆξ˜ƒξ˜…ξ˜„8ξ˜‡ξ˜…ξ˜Šeξ˜ƒH
ξ˜‘&iξ˜˜ξ˜—ξ˜…-.ξ˜ƒξ˜Šξ˜…ξ˜†ξ˜˜ξ˜—ξ˜…-#ξ˜ƒξ˜„ξ˜…-ξ˜Œξ˜‡ξ˜…)4ξ˜‡ξ˜…
ξ˜—ξ˜‚ξ˜ƒξ˜„ξ˜…ξ˜†ξ˜‡ξ˜ˆξ˜ƒH
'&Zξ˜‡7ξ˜‡ξ˜…ξ˜†ξ˜Š$ξ˜—ξ˜Šξ˜…ξ˜Šξ˜Žξ˜›ξ˜…'ξ˜…ξ˜—ξ˜ξ˜–ξ˜…ξ˜™ξ˜”ξ˜†ξ˜…Fξ˜‚7H
K
 ξ˜• 
= Γ—
R
ξ˜ξ˜‡
ξ˜•
ξ˜ξ˜‡ ξ˜‡ξ˜‡
+
=+
ξ˜†:ξ˜‘ξ˜ƒξ˜„ξ˜…-9
CHAPTER 18
CHAPTER 18
Money Supply and Money Demand
Money Supply and Money Demand
slide 16
Lξ˜–i giξ˜—i
Lξ˜–i giξ˜—i
ξ˜˜ξ˜—ξ˜…-#ξ˜ƒξ˜„ξ˜…ξ˜—ξ˜ξ˜–ξ˜…ξ˜œLξ˜…ξ˜„ξ˜‡ξ˜–ξ˜…ξ˜†jξ˜ƒξ˜„ξ˜…ξ˜†dξ˜…&ξ˜‹ξ˜…ξ˜†ξ˜‡ξ˜ˆξ˜ƒξ˜…ξ˜›6ξ˜†ξ˜…2 ξ˜†ξ˜‡ξ˜ˆξ˜ƒξ˜…ξ˜„8ξ˜‡
βˆ†
βˆ†βˆ†
βˆ†
ξ˜ξ˜‡ξ˜…
hξ˜…PHξ˜…
RH
SLξ˜…ξ˜„ξ˜‡ξ˜–ξ˜…ξ˜†jξ˜ƒξ˜„ξ˜…ξ˜—ξ˜ξ˜–ξ˜…
ξ˜ξ˜‡
&ξ˜Žξ˜›ξ˜…ξ˜†jξ˜ƒξ˜„ξ˜…ξ˜›Yξ˜‚ξ˜…ξ˜œξ˜Œξ˜…ξ˜—ξ˜ξ˜–
ξ˜•
ξ˜†ξ˜Š<ξ˜‘ξ˜…ξ˜†dξ˜…&ξ˜‹ξ˜…ξ˜ƒξ˜Šξ˜‡ξ˜ˆξ˜‚ξ˜…ξ˜Šeξ˜ƒξ˜…ξ˜œξ˜‘ξ˜…)4ξ˜‡ξ˜…ξ˜†8ξ˜…ξ˜œξ˜ŒH Cξ˜‘ξ˜…)N(
ξ˜•
ξ˜„ξ˜‡7ξ˜›K ξ˜™ξ˜Šξ˜‡ξ˜”ξ˜ƒξ˜…ξ˜—ξ˜Šξ˜‘ξ˜…

ξ˜—kξ˜ƒξ˜„ξ˜…ξ˜„ξ˜‡7ξ˜›H
[H
ξ˜žξ˜”ξ˜‚ξ˜…ξ˜—ξ˜˜ξ˜—ξ˜…ξ˜Š#ξ˜…ξ˜„ξ˜‡ξ˜–ξ˜…-0ξ˜ƒξ˜Šξ˜…ξ˜„8ξ˜‡ξ˜…ξ˜†ξ˜‡ξ˜ˆξ˜ƒξ˜…$ξ˜†ξ˜…-ξ˜‡ξ˜…ξ˜†ξ˜Š0ξ˜…ξ˜—ξ˜˜ξ˜—ξ˜…ξ˜ƒξ˜„ξ˜ξ˜ƒξ˜…
ξ˜Šξ˜Žξ˜ƒξ˜„ξ˜…ξ˜™ξ˜Š"ξ˜ƒξ˜„ξ˜…ξ˜†ξ˜Šξ˜šξ˜…ξ˜—ξ˜Šξ˜‘ξ˜…)ξ˜–(ξ˜…ξ˜ƒξ˜Šξ˜‡ξ˜ˆξ˜‚Kξ˜…+ξ˜‘ξ˜…)N(ξ˜…ξ˜Šξ˜‹ξ˜…
ξ˜†ξ˜Šξ˜Œξ˜ƒξ˜„ξ˜…ξ˜ƒξ˜„ξ˜ξ˜ƒξ˜…ξ˜Šξ˜Žξ˜ƒξ˜„ξ˜…ξ˜™ξ˜Š"ξ˜ƒξ˜„ξ˜…ξ˜—9ξ˜…ξ˜™ξ˜Š7ξ˜…ξ˜ƒjξ˜ƒξ˜„ξ˜…ξ˜ξ˜†ξ˜ξ˜‘ξ˜’ξ˜…
ξ˜ƒξ˜Šξ˜‡ξ˜ˆξ˜‚ξ˜…ξ˜†ξ˜‡ξ˜ˆξ˜ƒH
CHAPTER 18
CHAPTER 18
Money Supply and Money Demand
Money Supply and Money Demand
slide 17
Ba cΓ΄ng cξ˜‡ ca chΓ­nh sΓ‘ch tiξ˜…n tξ˜”
Ba cΓ΄ng cξ˜‡ ca chΓ­nh sΓ‘ch tiξ˜…n tξ˜”
RH
ξ˜Ÿξ˜‘ξ˜ξ˜†ξ˜…-#ξ˜ƒξ˜„ξ˜…ξ˜†ξ˜Š.ξ˜…ξ˜†:ξ˜“Uξ˜ƒξ˜„ξ˜…ξ˜›f
[H
CLξ˜…ξ˜†:Mξ˜…ξ˜•lξ˜†ξ˜…ξ˜•ξ˜‚#ξ˜—
mH
noξ˜‡ξ˜…ξ˜œξ˜‚Wξ˜†ξ˜…ξ˜—ξ˜Šξ˜‡ξ˜”ξ˜†ξ˜…ξ˜™ξ˜ŠWξ˜‚
RH
RH
ξ˜Ÿξ˜‘ξ˜ξ˜†ξ˜…-#ξ˜ƒξ˜„ξ˜…ξ˜†ξ˜Š.ξ˜…ξ˜†:ξ˜“Uξ˜ƒξ˜„ξ˜…ξ˜›f
ξ˜Ÿξ˜‘ξ˜ξ˜†ξ˜…-#ξ˜ƒξ˜„ξ˜…ξ˜†ξ˜Š.ξ˜…ξ˜†:ξ˜“Uξ˜ƒξ˜„ξ˜…ξ˜›f
[H
[H
CLξ˜…ξ˜†:Mξ˜…ξ˜•lξ˜†ξ˜…ξ˜•ξ˜‚#ξ˜—
CLξ˜…ξ˜†:Mξ˜…ξ˜•lξ˜†ξ˜…ξ˜•ξ˜‚#ξ˜—
mH
mH
noξ˜‡ξ˜…ξ˜œξ˜‚Wξ˜†ξ˜…ξ˜—ξ˜Šξ˜‡ξ˜”ξ˜†ξ˜…ξ˜™ξ˜ŠWξ˜‚
noξ˜‡ξ˜…ξ˜œξ˜‚Wξ˜†ξ˜…ξ˜—ξ˜Šξ˜‡ξ˜”ξ˜†ξ˜…ξ˜™ξ˜ŠWξ˜‚
4
CHAPTER 18
CHAPTER 18
Money Supply and Money Demand
Money Supply and Money Demand
slide 18
Hoξ˜“t ξ˜‹ξ˜ng th trξ˜‰ξ˜–ng mξ˜™
Hoξ˜“t ξ˜‹ξ˜ng th trξ˜‰ξ˜–ng mξ˜™

-.ξ˜ƒξ˜Šξ˜…ξ˜ƒξ˜„ξ˜Špξ˜–/
qξ˜‡ξ˜‹ξ˜—ξ˜…ξ˜›ξ˜‚ξ˜–ξ˜…ξ˜Šξ˜‘6ξ˜—ξ˜…ξ˜•ξ˜˜ξ˜ƒξ˜…ξ˜†:ξ˜˜ξ˜‡ξ˜…Iξ˜Šξ˜‡ξ˜”ξ˜‚ξ˜…ξ˜—ξ˜Š$ξ˜ƒξ˜Šξ˜…Iξ˜Šξ˜ξ˜…ξ˜—ξ˜ξ˜–ξ˜…
ξ˜ƒξ˜„ξ˜ξ˜ƒξ˜…ξ˜Šξ˜Žξ˜ƒξ˜„ξ˜…ξ˜†:ξ˜‚ξ˜ƒξ˜„ξ˜…ξ˜“eξ˜ƒξ˜„H

ξ˜ƒ9ξ˜…ξ˜Šξ˜‘ξ˜ξ˜†ξ˜…-#ξ˜ƒξ˜„ξ˜…ξ˜†ξ˜Šξ˜”ξ˜…ξ˜ƒξ˜Žξ˜‘/
ξ˜žξ˜”ξ˜‚ξ˜…ξ˜ƒξ˜„ξ˜ξ˜ƒξ˜…ξ˜Šξ˜Žξ˜ƒξ˜„ξ˜…ξ˜†:ξ˜‚ξ˜ƒξ˜„ξ˜…ξ˜“eξ˜ƒξ˜„ξ˜…ξ˜›ξ˜‚ξ˜–ξ˜…ξ˜†:ξ˜˜ξ˜‡ξ˜…Iξ˜Šξ˜‡ξ˜”ξ˜‚ξ˜…ξ˜†rξ˜…
ξ˜—"ξ˜ƒξ˜„ξ˜…ξ˜—ξ˜Š;ξ˜ƒξ˜„K
Gξ˜…ξ˜†ξ˜Šξ˜–ξ˜ƒξ˜Šξ˜…ξ˜†ξ˜‘ξ˜˜ξ˜ƒξ˜…ξ˜•3ξ˜ƒξ˜„ξ˜…ξ˜ƒξ˜ŠMξ˜ƒξ˜„ξ˜…-Dξ˜ƒξ˜„ξ˜…ξ˜†ξ˜‡ξ˜ˆξ˜ƒξ˜…ξ˜›4ξ˜‡K &ξ˜Žξ˜›ξ˜…
ξ˜†jξ˜ƒξ˜„

)ξ˜Žξ˜…+ξ˜‘ξ˜…)N(

Hξ˜…
CHAPTER 18
CHAPTER 18
Money Supply and Money Demand
Money Supply and Money Demand
slide 19
D tr bt buc
D tr bt buc

-.ξ˜ƒξ˜Šξ˜…ξ˜ƒξ˜„ξ˜Špξ˜–/
ξ˜ξ˜˜ξ˜—ξ˜…Fξ˜‚(ξ˜…-.ξ˜ƒξ˜Šξ˜…ξ˜—ξ˜ξ˜–ξ˜…ξ˜ƒξ˜„ξ˜ξ˜ƒξ˜…ξ˜Šξ˜Žξ˜ƒξ˜„ξ˜…ξ˜†:ξ˜‚ξ˜ƒξ˜„ξ˜…ξ˜“eξ˜ƒξ˜„ξ˜…(=ξ˜‚ξ˜…
ξ˜—*ξ˜‚ξ˜…ξ˜—ξ˜˜ξ˜—ξ˜…ξ˜ƒξ˜„ξ˜ξ˜ƒξ˜…ξ˜Šξ˜Žξ˜ƒξ˜„ξ˜…ξ˜„ξ˜‡Mξ˜…ξ˜›#ξ˜†ξ˜…ξ˜†dξ˜…&ξ˜‹ξ˜…+Lξ˜…ξ˜†:Mξ˜…2 ξ˜†ξ˜‡ξ˜ˆξ˜ƒξ˜…
ξ˜„8ξ˜‡ξ˜…ξ˜†ξ˜Œξ˜‡ξ˜…ξ˜†ξ˜Šξ˜‡ξ˜šξ˜‚H

ξ˜ƒ9ξ˜…ξ˜Šξ˜‘ξ˜ξ˜†ξ˜…-#ξ˜ƒξ˜„ξ˜…ξ˜†ξ˜Šξ˜”ξ˜…ξ˜ƒξ˜Žξ˜‘/
CLξ˜…ξ˜†:Mξ˜…ξ˜•lξ˜†ξ˜…ξ˜•ξ˜‚#ξ˜—ξ˜…ξ˜†ξ˜˜ξ˜—ξ˜…-#ξ˜ƒξ˜„ξ˜…-ξ˜”ξ˜ƒ
ξ˜‡ξ˜‡
)
ξ˜•ξ˜…
/
ξ˜žξ˜”ξ˜‚ξ˜…ξ˜ƒξ˜„ξ˜ξ˜ƒξ˜…ξ˜Šξ˜Žξ˜ƒξ˜„ξ˜…ξ˜†:ξ˜‚ξ˜ƒξ˜„ξ˜…ξ˜“eξ˜ƒξ˜„ξ˜…ξ˜„ξ˜‡7ξ˜›ξ˜…+Lξ˜…ξ˜†:Mξ˜…ξ˜•lξ˜†ξ˜…
ξ˜•ξ˜‚#ξ˜—ξ˜…ξ˜†ξ˜Š0ξ˜…ξ˜—ξ˜˜ξ˜—ξ˜…ξ˜ƒξ˜„ξ˜ξ˜ƒξ˜…ξ˜Šξ˜Žξ˜ƒξ˜„ξ˜…ξ˜—9ξ˜…ξ˜†ξ˜Šξ˜šξ˜…ξ˜—ξ˜Šξ˜‘ξ˜…)ξ˜–(ξ˜…ξ˜ƒξ˜Šξ˜‡ξ˜ˆξ˜‚ξ˜…
eξ˜ƒξ˜…)ξ˜Žξ˜…ξ˜ξ˜†ξ˜ξ˜‘ξ˜’ξ˜…ξ˜ƒξ˜Šξ˜‡ξ˜ˆξ˜‚ξ˜…ξ˜†ξ˜‡ξ˜ˆξ˜ƒξ˜…ξ˜Šeξ˜ƒξ˜…ξ˜†rξ˜…ξ˜›sξ˜‡ξ˜…ξ˜™ξ˜Šξ˜‘7ξ˜ƒξ˜…ξ˜†ξ˜‡ξ˜ˆξ˜ƒξ˜…
ξ˜„8ξ˜‡H
CHAPTER 18
CHAPTER 18
Money Supply and Money Demand
Money Supply and Money Demand
slide 20
LΓ£i suξ˜›t chit khξ˜›u
LΓ£i suξ˜›t chit khξ˜›u

-.ξ˜ƒξ˜Šξ˜…ξ˜ƒξ˜„ξ˜Špξ˜–/
noξ˜‡ξ˜…ξ˜œξ˜‚Wξ˜†ξ˜…ξ˜›ξ˜Žξ˜…ξ˜—ξ˜˜ξ˜—ξ˜…ξ˜ƒξ˜„ξ˜ξ˜ƒξ˜…ξ˜Šξ˜Žξ˜ƒξ˜„ξ˜…I7ξ˜‡ξ˜…ξ˜†:7ξ˜…ξ˜—ξ˜Šξ˜‘ξ˜…ξ˜ƒξ˜„ξ˜ξ˜ƒξ˜…
ξ˜Šξ˜Žξ˜ƒξ˜„ξ˜…ξ˜†:ξ˜‚ξ˜ƒξ˜„ξ˜…ξ˜“eξ˜ƒξ˜„ξ˜…ξ˜™ξ˜Šξ˜‡ξ˜…)ξ˜–(ξ˜…ξ˜†ξ˜‡ξ˜ˆξ˜ƒξ˜…ξ˜—ξ˜ξ˜–ξ˜…ξ˜ŠGH

ξ˜ƒ9ξ˜…ξ˜Šξ˜‘ξ˜ξ˜†ξ˜…-#ξ˜ƒξ˜„ξ˜…ξ˜†ξ˜Šξ˜”ξ˜…ξ˜ƒξ˜Žξ˜‘/
Oξ˜Šξ˜‡ξ˜…ξ˜—ξ˜˜ξ˜—ξ˜…ξ˜ƒξ˜„ξ˜ξ˜ƒξ˜…ξ˜Šξ˜Žξ˜ƒξ˜„ξ˜…)ξ˜–(ξ˜…ξ˜†ξ˜‡ξ˜ˆξ˜ƒξ˜…ξ˜†rξ˜…ξ˜žξ˜Ÿ !Kξ˜…+Lξ˜…ξ˜†:Mξ˜…ξ˜—ξ˜ξ˜–ξ˜…
Gξ˜…ξ˜†jξ˜ƒξ˜„Kξ˜…ξ˜—ξ˜Šξ˜‘ξ˜…I?Iξ˜…ξ˜ŠGξ˜…ξ˜—ξ˜Šξ˜‘ξ˜…)ξ˜–(ξ˜…ξ˜ƒξ˜Šξ˜‡ξ˜ˆξ˜‚ξ˜…ξ˜Šeξ˜ƒξ˜…)ξ˜Žξ˜…ξ˜ξ˜†ξ˜ξ˜‘ξ˜’ξ˜…
ξ˜ƒξ˜Šξ˜‡ξ˜ˆξ˜‚ξ˜…ξ˜†ξ˜‡ξ˜ˆξ˜ƒξ˜…ξ˜Šeξ˜ƒH
 !ξ˜…ξ˜—9ξ˜…ξ˜†ξ˜Šξ˜šξ˜…ξ˜†jξ˜ƒξ˜„

ξ˜•3ξ˜ƒξ˜„ξ˜…ξ˜—ξ˜˜ξ˜—ξ˜Šξ˜…ξ˜„ξ˜‡7ξ˜›ξ˜…&oξ˜‡ξ˜…ξ˜œξ˜‚Wξ˜†ξ˜…
ξ˜—ξ˜Šξ˜‡ξ˜”ξ˜†ξ˜…ξ˜™ξ˜ŠWξ˜‚Kξ˜…ξ˜™ξ˜Šξ˜‡ξ˜”ξ˜ƒξ˜…ξ˜—ξ˜Šξ˜‘ξ˜…ξ˜—ξ˜˜ξ˜—ξ˜…ξ˜ƒξ˜„ξ˜ξ˜ƒξ˜…ξ˜Šξ˜Žξ˜ƒξ˜„ξ˜…)ξ˜–(ξ˜…ξ˜ƒξ˜Šξ˜‡ξ˜ˆξ˜‚ξ˜…+Lξ˜…
ξ˜†:Mξ˜…ξ˜Šeξ˜ƒξ˜…ξ˜†rξ˜…ξ˜žξ˜Ÿ !H
CHAPTER 18
CHAPTER 18
Money Supply and Money Demand
Money Supply and Money Demand
slide 21
CΓ΄ng cξ˜‡ nΓ o hay ξ˜‹ξ˜‰ξ˜’c s dξ˜‡ng nhξ˜›t?
CΓ΄ng cξ˜‡ nΓ o hay ξ˜‹ξ˜‰ξ˜’c s dξ˜‡ng nhξ˜›t?

ξ˜Ÿξ˜‘ξ˜ξ˜†ξ˜…-#ξ˜ƒξ˜„ξ˜…ξ˜†ξ˜Š.ξ˜…ξ˜†:ξ˜“Uξ˜ƒξ˜„ξ˜…ξ˜›f/
Jξ˜“5ξ˜—ξ˜…ξ˜œ8ξ˜…+,ξ˜ƒξ˜„ξ˜…ξ˜†ξ˜Šξ˜“Uξ˜ƒξ˜„ξ˜…%ξ˜‚(=ξ˜ƒξ˜…ξ˜ƒξ˜ŠWξ˜†H

Mξ˜ƒξ˜„ξ˜…ξ˜†ξ˜Šξ˜–(ξ˜…-bξ˜‡ξ˜…)ξ˜ˆξ˜…+Lξ˜…ξ˜†:Mξ˜…ξ˜•lξ˜†ξ˜…ξ˜•ξ˜‚#ξ˜—/
tξ˜†ξ˜…-ξ˜“5ξ˜—ξ˜…ξ˜œ8ξ˜…+,ξ˜ƒξ˜„ξ˜…ξ˜†ξ˜Šξ˜“Uξ˜ƒξ˜„ξ˜…%ξ˜‚(=ξ˜ƒξ˜…ξ˜ƒξ˜ŠWξ˜†H

ξ˜Šξ˜–(ξ˜…-bξ˜‡ξ˜…&oξ˜‡ξ˜…ξ˜œξ˜‚Wξ˜†ξ˜…ξ˜—ξ˜Šξ˜‡ξ˜”ξ˜†ξ˜…ξ˜™ξ˜ŠWξ˜‚/
ξ˜ξ˜Šξ˜ξ˜…(ξ˜”ξ˜‚ξ˜…ξ˜›ξ˜–ξ˜ƒξ˜„ξ˜…ξ˜†$ξ˜ƒξ˜Šξ˜…ξ˜†ξ˜“5ξ˜ƒξ˜„ξ˜…ξ˜†:ξ˜“ξ˜ƒξ˜„u
 !ξ˜…&ξ˜Žξ˜…ξ˜ξ˜ƒξ˜„ξ˜“Uξ˜‡ξ˜…ξ˜—ξ˜Šξ˜‘ξ˜…)ξ˜–(ξ˜…ξ˜—ξ˜‚ξ˜Œξ˜‡ξ˜…ξ˜—_ξ˜ƒξ˜„ξ˜’K
ξ˜™ξ˜Š"ξ˜ƒξ˜„ξ˜…ξ˜†ξ˜Šξ˜“Uξ˜ƒξ˜„ξ˜…%ξ˜‚(=ξ˜ƒξ˜…-Iξ˜…Vξ˜ƒξ˜„ξ˜…ξ˜ƒξ˜Šξ˜‚ξ˜…ξ˜—*ξ˜‚ξ˜…)ξ˜–(
ξ˜†ξ˜‡ξ˜ˆξ˜ƒξ˜…ξ˜—ξ˜ξ˜–ξ˜…ξ˜—ξ˜˜ξ˜—ξ˜…ξ˜ƒξ˜„ξ˜ξ˜ƒξ˜…ξ˜Šξ˜Žξ˜ƒξ˜„H
CHAPTER 18
CHAPTER 18
Money Supply and Money Demand
Money Supply and Money Demand
slide 22
Tξ˜“i sao NHTξ˜ƒ khΓ΄ng th kim soΓ‘t
Tξ˜“i sao NHTξ˜ƒ khΓ΄ng th kim soΓ‘t
chΓ­nh xΓ‘c
chΓ­nh xΓ‘c


ξ˜ξ˜ξ˜˜ξ˜—ξ˜…ξ˜Š#ξ˜…ξ˜„ξ˜‡ξ˜–ξ˜…-0ξ˜ƒξ˜Šξ˜…ξ˜—9ξ˜…ξ˜†ξ˜Šξ˜šξ˜…ξ˜†ξ˜Šξ˜–(ξ˜…-bξ˜‡
ξ˜ξ˜‡
Kξ˜…
ξ˜™ξ˜Šξ˜‡ξ˜”ξ˜ƒξ˜…ξ˜—ξ˜Šξ˜‘ξ˜…
ξ˜•
)

ξ˜†ξ˜Šξ˜–(ξ˜…-bξ˜‡H
ξ˜ξ˜ξ˜˜ξ˜—ξ˜…ξ˜ƒξ˜„ξ˜ξ˜ƒξ˜…ξ˜Šξ˜Žξ˜ƒξ˜„ξ˜…ξ˜†ξ˜Šξ˜“Uξ˜ƒξ˜„ξ˜…%ξ˜‚(=ξ˜ƒξ˜…ξ˜—9ξ˜…ξ˜”ξ˜„ξ˜…ξ˜†ξ˜‡ξ˜ˆξ˜…ξ˜”(ξ˜…ξ˜†ξ˜)*
>+Lξ˜…ξ˜†:Mξ˜…&4ξ˜ƒξ˜…ξ˜Šeξ˜ƒξ˜…ξ˜›Vξ˜—ξ˜…+Lξ˜…ξ˜†:Mξ˜…ξ˜•lξ˜†ξ˜…ξ˜•ξ˜‚#ξ˜—@H
ξ˜žξ˜”ξ˜‚ξ˜…ξ˜—ξ˜˜ξ˜—ξ˜…ξ˜ƒξ˜„ξ˜ξ˜ƒξ˜…ξ˜Šξ˜Žξ˜ƒξ˜„ξ˜…ξ˜†ξ˜Šξ˜–(ξ˜…-bξ˜‡ξ˜…+Lξ˜…ξ˜†:Mξ˜…+ξ˜“ξ˜…ξ˜†ξ˜Šrξ˜–ξ˜…ξ˜—ξ˜ξ˜–ξ˜…
GKξ˜…
ξ˜†ξ˜Š0
ξ˜‡ξ˜‡
Kξ˜…
ξ˜•
)

ξ˜†ξ˜Šξ˜–(ξ˜…-bξ˜‡H
K
 ξ˜• 
= Γ—
R
ξ˜ξ˜‡
ξ˜•
ξ˜ξ˜‡ ξ˜‡ξ˜‡
+
=+
ξ˜†:ξ˜‘ξ˜ƒξ˜„ξ˜…-9
CHAPTER 18
CHAPTER 18
Money Supply and Money Demand
Money Supply and Money Demand
slide 23
Tình hung:
Tình hung:
S sξ˜‡p ξ˜‹ξ˜‘ ca hξ˜” thng
S sξ˜‡p ξ˜‹ξ˜‘ ca hξ˜” thng
ngÒn hàng trong nhng nm 1930
ngÒn hàng trong nhng nm 1930
rξ˜…Rv[v-ξ˜”ξ˜ƒ RvmmKξ˜…

eξ˜ƒ vPPPξ˜…ξ˜ƒξ˜„ξ˜ξ˜ƒξ˜…ξ˜Šξ˜Žξ˜ƒξ˜„ξ˜…-oξ˜…-9ξ˜ƒξ˜„ξ˜…ξ˜—8ξ˜–H

ξ˜ξ˜‚ξ˜ƒξ˜„ξ˜…ξ˜†ξ˜‡ξ˜ˆξ˜ƒξ˜…ξ˜„ξ˜‡7ξ˜› [XTH
SLξ˜…ξ˜„ξ˜‡7ξ˜›ξ˜…ξ˜œ;ξ˜†ξ˜…ξ˜ƒξ˜Ž(ξ˜…ξ˜—ξ˜ξ˜–ξ˜…ξ˜—ξ˜‚ξ˜ƒξ˜„ξ˜…ξ˜†ξ˜‡ξ˜ˆξ˜ƒξ˜…ξ˜—9ξ˜…&\ξ˜…-oξ˜…
ξ˜„ξ˜(ξ˜…:ξ˜–ξ˜…ξ˜ξ˜‚#ξ˜—ξ˜…Jξ˜ξ˜‡ξ˜…Oξ˜Šξ˜ξ˜ƒξ˜„ξ˜…ξ˜Šξ˜‘7ξ˜ƒξ˜„H
lξ˜—ξ˜…ξ˜—ξ˜Šlξ˜ƒξ˜…ξ˜ƒ9ξ˜…&ξ˜Žξ˜›ξ˜…ξ˜ƒξ˜„ξ˜Šξ˜‡=ξ˜›ξ˜…ξ˜†:Gξ˜ƒξ˜„ξ˜…ξ˜†ξ˜Š=ξ˜›ξ˜…
ξ˜—ξ˜‚#ξ˜—ξ˜…ξ˜™ξ˜Šξ˜ξ˜ƒξ˜„ξ˜…ξ˜Šξ˜‘7ξ˜ƒξ˜„Hξ˜…
SLξ˜…ξ˜„ξ˜‡7ξ˜›ξ˜…ξ˜œ;ξ˜†ξ˜…ξ˜ƒξ˜Ž(ξ˜…ξ˜—ξ˜ξ˜–ξ˜…ξ˜—ξ˜‚ξ˜ƒξ˜„ξ˜…ξ˜†ξ˜‡ξ˜ˆξ˜ƒξ˜…ξ˜—9ξ˜…&\ξ˜…-oξ˜…
ξ˜„ξ˜(ξ˜…:ξ˜–ξ˜…ξ˜ξ˜‚#ξ˜—ξ˜…Jξ˜ξ˜‡ξ˜…Oξ˜Šξ˜ξ˜ƒξ˜„ξ˜…ξ˜Šξ˜‘7ξ˜ƒξ˜„H
lξ˜—ξ˜…ξ˜—ξ˜Šlξ˜ƒξ˜…ξ˜ƒ9ξ˜…&ξ˜Žξ˜›ξ˜…ξ˜ƒξ˜„ξ˜Šξ˜‡=ξ˜›ξ˜…ξ˜†:Gξ˜ƒξ˜„ξ˜…ξ˜†ξ˜Š=ξ˜›ξ˜…
ξ˜—ξ˜‚#ξ˜—ξ˜…ξ˜™ξ˜Šξ˜ξ˜ƒξ˜„ξ˜…ξ˜Šξ˜‘7ξ˜ƒξ˜„Hξ˜…
5
CHAPTER 18
CHAPTER 18
Money Supply and Money Demand
Money Supply and Money Demand
slide 24
Bξ˜—ng
Bξ˜—ng 18
18-
-1:
1: Cung tiξ˜…n vΓ  CΓ‘c nhΓ’n t
 quyt
Cung tiξ˜…n vΓ  CΓ‘c nhΓ’n t quyt
ξ˜‹
ξ˜‹ξ˜˜nh nΓ³:
nh nó: 1929
1929 vΓ 
vΓ  1933
1933
crξ˜‰ξ˜‰ξ˜Šξ˜ƒng do mξ˜‹t lΓ²ng tin vΓ o cΓ‘c ngΓ’n hΓ ng
CHAPTER 18
CHAPTER 18
Money Supply and Money Demand
Money Supply and Money Demand
slide 25
Bξ˜—ng 18
Bξ˜—ng 18-
-1: Cung tiξ˜…n vΓ  CΓ‘c nhΓ’n t quyt
1: Cung tiξ˜…n vΓ  CΓ‘c nhΓ’n t quyt
ξ˜‹
ξ˜‹ξ˜˜nh nΓ³: 1929 vΓ  1933
nh nó: 1929 và 1933
rr tξ˜ƒng do cΓ‘c ngΓ’n hΓ ng cn trng hn, tξ˜ƒng
d tr dξ˜‘ thξ˜’a
CHAPTER 18
CHAPTER 18
Money Supply and Money Demand
Money Supply and Money Demand
slide 26
Bξ˜—ng 18
Bξ˜—ng 18-
-1: Cung tiξ˜…n vΓ  CΓ‘c nhΓ’n t quyt
1: Cung tiξ˜…n vΓ  CΓ‘c nhΓ’n t quyt
ξ˜‹
ξ˜‹ξ˜˜nh nΓ³: 1929 vΓ  1933
nh nó: 1929 và 1933
S gia tξ˜ƒng cξ˜„acr vΓ  rr lΓ m gim sξ˜“ nhΓ’n tiξ˜”n.
CHAPTER 18
CHAPTER 18
Money Supply and Money Demand
Money Supply and Money Demand
slide 27
Liξ˜”u ξ˜‹iξ˜…u nΓ y cΓ³ xξ˜—y ra na khΓ΄ng?
Liξ˜”u ξ˜‹iξ˜…u nΓ y cΓ³ xξ˜—y ra na khΓ΄ng?

ξ˜žξ˜Šξ˜‡ξ˜ˆξ˜‚ξ˜…ξ˜—ξ˜Š$ξ˜ƒξ˜Šξ˜…ξ˜œξ˜˜ξ˜—ξ˜Šξ˜…-oξ˜…-ξ˜“5ξ˜—ξ˜…ξ˜†ξ˜ŠLξ˜—ξ˜…ξ˜Šξ˜‡ξ˜‹ξ˜ƒξ˜…ξ˜™ξ˜šξ˜…ξ˜†rξ˜…
ξ˜ƒξ˜ŠMξ˜ƒξ˜„ξ˜…ξ˜ƒjξ˜›ξ˜…RvmPξ˜…-ξ˜šξ˜…ξ˜ƒξ˜„jξ˜ƒξ˜…ξ˜—ξ˜Š6ξ˜ƒξ˜…ξ˜œLξ˜…ξ˜œ,Iξ˜…-bξ˜…
&ξ˜–ξ˜ƒξ˜…:#ξ˜ƒξ˜„ξ˜…ξ˜†ξ˜“eξ˜ƒξ˜„ξ˜…ξ˜†Lξ˜…ξ˜—ξ˜ξ˜–ξ˜…ξ˜Šξ˜‹ξ˜…ξ˜†ξ˜Šξ˜Œξ˜ƒξ˜„ξ˜…ξ˜ƒξ˜„ξ˜ξ˜ƒξ˜…
ξ˜Šξ˜Žξ˜ƒξ˜„H

q$ξ˜…+,/ 17ξ˜‘ξ˜…ξ˜Šξ˜‡ξ˜šξ˜›ξ˜…ξ˜†ξ˜‡ξ˜ˆξ˜ƒξ˜…ξ˜„8ξ˜‡K
ξ˜ƒξ˜Š3ξ˜›ξ˜…ξ˜ƒξ˜„jξ˜ƒξ˜…ξ˜—ξ˜Š6ξ˜ƒξ˜…ξ˜œLξ˜…ξ˜†ξ˜Šξ˜˜ξ˜‘ξ˜…ξ˜—ξ˜Šξ˜(ξ˜…ξ˜—ξ˜ξ˜–ξ˜…ξ˜ƒξ˜„ξ˜ξ˜ƒξ˜…
ξ˜Šξ˜Žξ˜ƒξ˜„ξ˜…)ξ˜Žξ˜…ξ˜ƒξ˜ŠMξ˜ƒξ˜„ξ˜…ξ˜•ξ˜‡ξ˜”ξ˜ƒξ˜…-#ξ˜ƒξ˜„ξ˜…ξ˜›ξ˜ξ˜ƒξ˜Šξ˜…ξ˜—ξ˜ξ˜–ξ˜…ξ˜†dξ˜…&ξ˜‹ξ˜…
ξ˜†ξ˜‡ξ˜ˆξ˜ƒξ˜…ξ˜›6ξ˜†ξ˜…2 ξ˜†ξ˜‡ξ˜ˆξ˜ƒξ˜…ξ˜„8ξ˜‡H
CHAPTER 18
CHAPTER 18
Money Supply and Money Demand
Money Supply and Money Demand
slide 28
Cξ˜†u Tiξ˜…n
Cξ˜†u Tiξ˜…n
9ξ˜…ξ˜Ÿξ˜–ξ˜‡ξ˜…&ξ˜‘ξ˜ξ˜‡ξ˜…n'ξ˜…ξ˜†ξ˜Šξ˜‚(ξ˜”ξ˜†/
ξ˜ξ˜ξ˜˜ξ˜—ξ˜…n'ξ˜…ξ˜†ξ˜Šξ˜‚(ξ˜”ξ˜†ξ˜…)ξ˜ˆξ˜…+ξ˜–ξ˜ƒξ˜Šξ˜…ξ˜›,ξ˜—ξ˜…-*ξ˜‚ξ˜…ξ˜†ξ˜“
ξ˜‰ξ˜ƒξ˜ŠWξ˜ƒξ˜…ξ˜›ξ˜ξ˜ƒξ˜Šξ˜…ξ˜—ξ˜ŠVξ˜—ξ˜…ξ˜ƒjξ˜ƒξ˜„ξ˜…ξ˜+Lξ˜…ξ˜†:Mξ˜…ξ˜„ξ˜‡ξ˜˜ξ˜…ξ˜†:.ξ˜’
ξ˜‰I_ξ˜…ξ˜Š5Iξ˜…)4ξ˜‡ξ˜…w[Kξ˜…wm
ξ˜‰ξ˜™ξ˜Š"ξ˜ƒξ˜„ξ˜…I_ξ˜…ξ˜Š5Iξ˜…)4ξ˜‡ξ˜…wRHξ˜…ξ˜…>xξ˜…)ξ˜–ξ˜‡ξ˜…ξ˜†:Eξ˜…+Lξ˜…ξ˜†:Mξ˜…ξ˜„ξ˜‡ξ˜˜ξ˜…ξ˜†:.K
wRξ˜…ξ˜•.ξ˜… +ξ˜Šξ˜…,ξ˜† ξ˜•fξ˜‡ξ˜…ξ˜—ξ˜˜ξ˜—ξ˜…ξ˜†ξ˜Žξ˜‡ξ˜…ξ˜œ7ξ˜ƒξ˜…ξ˜™ξ˜Šξ˜˜ξ˜—H@
ξ˜ξ˜ξ˜˜ξ˜—ξ˜…&'ξ˜…ξ˜†ξ˜Šξ˜‚(ξ˜”ξ˜†ξ˜…ξ˜„ξ˜‡ξ˜–ξ˜‘ξ˜…+.ξ˜—ξ˜Š
ξ˜‰ξ˜ƒξ˜ŠWξ˜ƒξ˜…ξ˜›ξ˜ξ˜ƒξ˜Šξ˜…ξ˜—ξ˜ŠVξ˜—ξ˜…ξ˜ƒjξ˜ƒξ˜„ξ˜…ξ˜Iξ˜Šξ˜“eξ˜ƒξ˜„ξ˜…ξ˜†ξ˜‡ξ˜‹ξ˜ƒξ˜…ξ˜†:ξ˜–ξ˜‘ξ˜…-bξ˜‡ξ˜’
ξ˜‰ξ˜—kξ˜ƒξ˜„ξ˜…I_ξ˜…ξ˜Š5Iξ˜…)4ξ˜‡ wR
CHAPTER 18
CHAPTER 18
Money Supply and Money Demand
Money Supply and Money Demand
slide 29
Mt lΓ½ thuyt ξ˜‹ξ˜Šn giξ˜—n vξ˜… danh mξ˜‡c
Mt lΓ½ thuyt ξ˜‹ξ˜Šn giξ˜—n vξ˜… danh mξ˜‡c
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ξ˜†:ξ˜‘ξ˜ƒξ˜„ξ˜…+ξ˜‘
ξ˜…Aξ˜…&ξ˜‘ξ˜‡ξ˜…ξ˜†ξ˜‚ξ˜—ξ˜…ξ˜™(ξ˜…)ξ˜‘ξ˜ƒξ˜„ξ˜…ξ˜†ξ˜Šξ˜‚ξ˜—ξ˜…ξ˜†<ξ˜…ξ˜—ξ˜‚ξ˜–ξ˜…ξ˜—ξ˜‘ξ˜…Iξ˜Šξ˜‡<ξ˜‚
ξ˜…Aξ˜…&ξ˜‘ξ˜‡ξ˜…ξ˜†ξ˜‚ξ˜—ξ˜…ξ˜™(ξ˜…)ξ˜‘ξ˜ƒξ˜„ξ˜…ξ˜†ξ˜Šξ˜‚ξ˜—ξ˜…ξ˜†<ξ˜…ξ˜—ξ˜‚ξ˜–ξ˜…ξ˜†:ξ˜–ξ˜‡ξ˜…Iξ˜Šξ˜‡<
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ξ˜…Aξ˜…ξ˜†ξ˜–ξ˜‡ξ˜…ξ˜œξ˜–ξ˜ƒξ˜…ξ˜†ξ˜Šξ˜‚ξ˜—ξ˜…ξ˜†<
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