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ทฤษฎีและนโยบาย การเงิน Monetary Theory and Policy Money Supply Process Analyzing the Policy tools.

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Presentation on theme: "ทฤษฎีและนโยบาย การเงิน Monetary Theory and Policy Money Supply Process Analyzing the Policy tools."— Presentation transcript:

1 ทฤษฎีและนโยบาย การเงิน Monetary Theory and Policy Money Supply Process Analyzing the Policy tools

2 The Federal Fund Market Federal Fund Rate Discount Rate Demand ( Reserve Demand ) Supply –Borrowed Reserve + Non – Borrowed Reserve

3 Fed Fund Rate Reserve E iDiD i FF R*NBR S D

4 Effect of Policy Tools Open Market Operation –Purchase / Sale Discount Loan –Increase rate / Decrease Rate Required Reserve –Increase require reserve ratio / Decrease RR

5 Fed Fund Rate Reserve E0E0 iDiD i FF0 R0R0 NBR Open Market Operation : Purchase S1S1 S0S0 D R1R1 i FF1 E1E1

6 Fed Fund Rate Reserve E0E0 iDiD i FF0 R0R0 NBR Open Market Operation : Sale S1S1 S0S0 D R1R1 i FF1 E1E1

7 Fed Fund Rate Reserve E0E0 iDiD i FF0 R0R0 NBR Discount Rate : Increase S1S1 S0S0 D R1R1 i FF1 E1E1

8 Fed Fund Rate Reserve E1E1 iDiD i FF0 R0R0 NBR Discount Rate : Decrease S1S1 S0S0 D R1R1 i FF1 E0E0

9 Fed Fund Rate Reserve E0E0 iDiD i FF0 R0R0 NBR S D0D0 E1E1 R1R1 i FF1 Required Reserve : Increase D1D1

10 Fed Fund Rate Reserve E0E0 iDiD i FF0 R0R0 NBR S D0D0 E1E1 R1R1 i FF1 Required Reserve : Decrease D1D1


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