Money growth(M2 Annual Rate) and the Business Cycle in the United states 1950-2011 Money Growth Rat ( annual rate) Money Growth Rate(M2) 10 1950195519601965197019751980198519901995200020052010 Source: Based on Federal Reserve Bulletin, p. A4, Table 1.10: www.federalreserve.gov/releases/h6/hist/h6hist1.txt
Money Growth (M2 Annual Rate) and the Business Cycle in the United States 1950–2011 Source: Based on Federal Reserve Bulletin, p. A4, Table 1.10; www.federalreserve.gov/releases/h6/hist/h6hist1.txt
Aggregate Price Level and the Money supply in the United states, 1950-2011 ndex(1987=100) Aggregate Price Level GDP Deflator) 950195519601965197019751980198519901995200020052010 SourcesBasedonwww.stls.frborg/fred/data/gdp/gdpdefi www.federalreserve.gov/releases/h6/hist/h6hist10.txt
Aggregate Price Level and the Money Supply in the United States, 1950–2011 Sources: Based on www.stls.frb.org/fred/data/gdp/gdpdef; www.federalreserve.gov/releases/h6/hist/h6hist10.txt
Average Inflation Rate Versus average rate of Money growth for Selected Countries, 2000-2010 Average Inflation Rate (%annual rate) 15 10 e Costa Rica Mozambique ndonesia● Brazil. o Tanzania Azerbaijan, Rep of e New Zealand Hungary e Colomb South Africa° Mexico e Bolivia United States Jordan o Estonia Australia Poland Chile Malaysia .Lithuania o Sweden'Denmarnk' ● Finland Saudi Arabia 10 15 Average Money Growth Rate ( annual rate) Source: Based on international financial statistics Www.iMfstaTistics. org/imf
Average Inflation Rate Versus Average Rate of Money Growth for Selected Countries, 2000-2010 Source: Based on International Financial Statistics. www.imfstatistics.org/imf
Money growth(M2 Annual Rate) and Interest Rates (Long-Term U.S. Treasury Bonds), 1950-2011 Interest Money Growth Rate Rate(%) ( annual rate 16 16 14 Money Growth Rate(M2) 12 6 Interest Rate 2 1950195519601965197019751980198519901995200020052010 Sources: Based on Federal Reserve Bulletin, p. A4, Table 1.10 www.federalreserve.gov/releases/h6/hist/h6hist1.txt
Money Growth (M2 Annual Rate) and Interest Rates (Long-Term U.S. Treasury Bonds), 1950–2011 Sources: Based on Federal Reserve Bulletin, p. A4, Table 1.10; www.federalreserve.gov/releases/h6/hist/h6hist1.txt
金融市场( financial markets) 金融市场的发展是一国金融体系是否发达的重要 标志,是投融资、央行实施货币政策的重要场所, 对资源配置、经济效率以及公众财富都有重要影 响 n金融机构( financial institutions) ■银行和其他金融机构是金融市场主要的参与主体。 银行是一国金融体系中最重要的金融中介,银行 与货币供应有直接关系,银行与金融创新密切相 关
◼ 金融市场（financial markets) ◼ 金融市场的发展是一国金融体系是否发达的重要 标志，是投融资、央行实施货币政策的重要场所， 对资源配置、经济效率以及公众财富都有重要影 响。 ◼ 金融机构(financial institutions) ◼ 银行和其他金融机构是金融市场主要的参与主体。 银行是一国金融体系中最重要的金融中介，银行 与货币供应有直接关系，银行与金融创新密切相 关