复旦大学：《宏观经济学 Macroeconomics》课程教学资源（A）Student Projects_The role of monetary policy in the Financial Crisis_Theory, Case and Evaluation

MONETARY POLICY. THEORY, APPLICATION During Financial Crises, AND ANALYSIS FED ER AL 111 Space, Portia, May, and Ben

MONETARY POLICY: THEORY, APPLICATION During Financial Crises , AND ANALYSIS • Space, Portia , May, and Ben

short play. udan lews

short play——

more expensIve

—— Martin Luther King All the rising prices are brought down! more expensive more expensive

Framework of Monetary policy Objectives Intermediate targets Operating targets Instruments

Framework of Monetary policy Obj ti Framework of Monetary policy Operating targets Intermediate targets Objectives Operating targets Instruments

Framework df Mo rait employnehicy Objectives inte al trade Economic growth Interest rate Price stability stability Financial stability

Framework of Monetary policy F ll u empl t oymen Obj ti Framework of Monetary policy Objectives The balance of international trade Economic growth Price stability Interest rate Financial stability Interest rate stability y

Framework of Monetary policy Objectives Intermediate targets Operating targets Instruments

Framework of Monetary policy Obj ti Framework of Monetary policy Operating targets Intermediate targets Objectives Operating targets Instruments

Framework of Monetary policy Intermediate targets Long/short term z Intermediate targets Monetary aggregate M1,M2

Framework of Monetary policy Framework of Monetary policy Intermediate targets Long/short term i Intermediate targets Monetar y aggregate M1,M2…

Framework of Monetary policy Objectives Intermediate targets Operating targets Instruments

Framework of Monetary policy Obj ti Framework of Monetary policy Operating targets Intermediate targets Objectives Operating targets Instruments

Framework of Monetary policy operating targets Bank reser Monetary Base: C+R

Framework of Monetary policy Framework of Monetary policy 1 Bank Reserves (ER) Operating targets Reserves (ER) 2 Monetary Base: C+R

Framework of Monetary policy Objectives Intermediate targets Operating targets Instruments

Framework of Monetary policy Obj ti Framework of Monetary policy Operating targets Intermediate targets Objectives Operating targets Instruments