【PPT精品课件】货币金融学7版英文课件--3-大学课件20

Chapter3WhatIsMoney?©2005PearsonEducationCanadaInc.©2005PearsonEducationCanadaInc.3-2MeaningandFunctionofMoneyEconomist’sMeaningofMoney1.Anythingthatisgenerallyacceptedinpaymentforgoodsandservices2.NotthesameaswealthorincomeFunctionsofMoney1.Mediumofexchange2.Unitofaccount3.StoreofvalueEvolutionofPaymentsSystem1.Preciousmetalslikegoldandsilver2.Papercurrency(fiatmoney)3.Checks4.Electronicmeansofpayment5.Electronicmoney:Debitcards,Stored-valuecards,Smartcards,E-cash©2005PearsonEducationCanadaInc.3-3BankofCanada’sMonetaryAggregates©2005PearsonEducationCanadaInc.3-4GrowthRatesoftheBank’sMonetaryAggregates©2005PearsonEducationCanadaInc.3-5•TheBankofCanada’smoneysupplymeasuresare‘simple-sum’indices,M=x1+x2+…+xn,wherexjisoneofthenmonetarycomponentsofthemonetaryaggregateM•Weightedmonetaryaggregates(suchasthe‘Divisia’)seemtopredictinflationandthebusinesscyclesomewhatbetterthantheBank’saggregatesMoneyasaWeightedAggregate