杭州交通信息网黄冈师范学院美术楼:货币政策的问题～
来源：百度文库 编辑：杭州交通信息网 时间：2024/05/10 12:15:51
If the central bank tightens monetary policy, which of the following will be the most likely sequence of events?
a. higher real domestic interest rates, inflow of funds, currency appreciation
b. lower real domestic interest rates, outflow of funds, currency appreciation
c. lower real domestic interest rates, outflow of funds, currency depreciation
d. lower inflation, lower nominal domestic interest rates, outflow of funds, currency depreciation
e. lower inflation, lower nominal domestic interest rates, inflow of funds, currency depreciation
单选，请解释原因，谢谢~
a. higher real domestic interest rates, inflow of funds, currency appreciation
b. lower real domestic interest rates, outflow of funds, currency appreciation
c. lower real domestic interest rates, outflow of funds, currency depreciation
d. lower inflation, lower nominal domestic interest rates, outflow of funds, currency depreciation
e. lower inflation, lower nominal domestic interest rates, inflow of funds, currency depreciation
单选，请解释原因，谢谢~
没看特别懂……紧缩性的货币政策，会导致货币供给小于需求，利率自然上升，储蓄自然上升，你应该知道货币很多了才会有通货膨胀吧，所以这个题目是通货紧缩！所以，排除法，选e吧……
这道题目选a.
题目是问：如果一国的中央银行施行紧缩的货币政策，下面那些情况最可能发生：
紧缩的货币政策包括：提高基准利率（名义利率），提高银行存款准备金率，央行通过公开市场业务发行债券，票据回笼货币等等，主要目的就是减少流通中的货币量、信贷规模，提高企业投资成本，控制通货膨胀平抑物价，防止经济过热。由于提高了利率，也就是存款的收益率和各种金融工具的收益率，因此在开放经济中，就会有钱流入该国，同时造成对本币的需求增加，本币升值。
另外实际利率＝名义利率－通过膨胀率（这个公式也叫费雪效应）
根据上述观点，可以看出b错在资金外流。c错在实际利率降低，资金外流，本币贬值；d错在名义利率降低（名义利率和实际利率都应该升高）；e不用说了吧。