卧“二s畫 货币—都是货币惹的“祸”? ■货币与商业周期 ■货币与物价水平 ■货币与通货膨胀 ■货币与利率 ■货币与货币政策 opyright by Dr Zhang Hua, 2003-2005
Copyright by Dr. Zhang Hua, 2003-2005 11 货币——都是货币惹的“祸”？ 货币与商业周期 货币与物价水平 货币与通货膨胀 货币与利率 货币与货币政策
「「逅 货币与商业周期 Money Growth Rate 15 Money Growth Rate(M2) 10 5 0 1950 1955 1960196519701975 1980 1985 1990 1995 2000 opyright by Dr Zhang Hua, 2003-2005
Copyright by Dr. Zhang Hua, 2003-2005 12 货币与商业周期
ndex(1987=100) 200 175 Aggregate Price Level (GDP Deflator) Money Supply (M2) 19501955196019651970197519801985199019952000 opyright by Dr Zhang Hua, 2003-2005 13
Copyright by Dr. Zhang Hua, 2003-2005 13 货币与物价水平
「「逅 货币增长与通货膨胀 Average Inflation Rate(%) 480 Brazil 450 420 360 330 300 270 240 210 150 120 e Argentina 90H United States Switzerland Uruguay 30 Ghana Germany australia 306090120150180210240270300330360390420450480 Average Money Growth Rate(%) opyright by Dr Zhang Hua, 2003-2005
Copyright by Dr. Zhang Hua, 2003-2005 14 货币增长与通货膨胀
「「逅 货币增长与利率 Money Interest Growth Rate Rate (%o) ( annual rate 16 16 Money Growth Rate(M2) Interest Rate 19501955196019651970197519801985199019952000 opyright by Dr Zhang Hua, 2003-2005
Copyright by Dr. Zhang Hua, 2003-2005 15 货币增长与利率