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image (Money (Functions (Exchange, Accounting, Value), Aggregates (M2…
Money
Functions
Exchange
Accounting
Value
Aggregates
M2
M1+Other
M1
Currency
Supply
Open Market Operations
Open Market Purchase
Open Market Sale
Portfolio
Factors
Liquidity
Risk
Risk Premium
Maturity
Term Premium
Expected Return
Types
Stocks
Bonds
Money
Houses
Durables
Md
Md=P*L(Y,i)
Y=Output
i=Interest
P=Price
L=Money Demand Function
Md=Demand
Factors
r
:arrow_down:
Exp. Inflation
:arrow_down:
Y
:arrow_up: Less Proportional
Wealth
:arrow_up:
P
:arrow_up: proportional
i
:arrow_up:
Risk
Depends
Liquidity
:arrow_down:
Tech :arrow_down:
Velocity
PY/M
Equ'm
Assets
Non-Monetary
Monetary
M/P = L(Y,r+pie^e)
Md + NMd = M + NM
Money Growth & Inflation
Lookup 7.11
%Inflation = %Growth MS -%Growth MD
