貨幣擴張,也稱作貨幣創造(英語:Money creation),是中央銀行、商業銀行和非銀行(機構或個人)透過信貸關係共同作用,使得在銀行體系內流通貨幣量擴大的金融行為。
| 此條目 沒有列出任何參考或來源。 (2017年11月17日) |
對貨幣擴張的控制是中央銀行的主要任務之一。
不是所有的流通貨幣都需要有貨幣現金、實物資產或政府資產作後盾。一國的貨幣是以國家的經濟潛力或政府的法定貨幣法令作後盾的。這種潛力也成為政府發行貨幣的理論上限。
貨幣擴張乘數,也稱作存款創造乘數,描述商業銀行體系供給貨幣的機制,它衡量了商業銀行體系內增加貨幣供給的數量。為了控制這個體系創造的貨幣量,中央銀行給商業銀行設置嚴格的準備金比例,中央銀行只允許商業銀行的初級存款的一部分用於放貸,這也稱作現金準備比例。
某儲戶在銀行A存入1000元初級存款(銀行負債部分的存款),現金準備比例為12%,則120元必須被銀行保留(銀行資產部分的儲備),880元可用於放貸(銀行資產部分的貸款)。如果銀行A將超額儲備880元全部放貸,接受貸款的人將之存到銀行B,銀行B需要將12%×880元作為初級存款880元的現金儲備,可放貸部分為774.40元。如果774.40元被存入C銀行,則92.93元須作為儲備,可以放貸681.47元,……,以此類推,直至不再有超額儲備(此處為了簡化,忽略了安全儲備)。
- TD:總存款的變化量
- ID:存款的初始變化
- crr:現金準備比例
例如,如果準備金比例為12%,存款的初始增長1000元將使總存款增加8333.33元(1000/.12=8333.33)。
- 美國政府發行國庫券,即在特定日期支付特定金額的支付承諾。比如發行價值1,000,000美元的債券,投資者以貨幣進行投資購入債券,以獲得債券利息為報償。
- 美聯儲印刷價值1,000,000美元的支票,作為應付款項給美國政府。該支票就是銷售債券的進款。
B:實際資本 D:總資本 C:現金提取量 rd:活期存款準備金率 rt:定期存款準備金率 k:現金漏出率=C/D
引入超額準備金 Re e:超額準備金率
B=rd×D+C+Re
D=B/(rd+e+k)
引入定期存款T (t,定期存款占活期存款比例)
B=rdXD+rt×T+C+Re
D=B/(rd+rt×t+e+k)
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