宏观经济学货币政策剖析.pptVIP

货币是经济中人们经常性地用来从其他人那里购买物品与服务的一组资产。 Money is the set of assets in the economy that people regularly use to buy goods and services from other people. 货币在经济当中具有三种职能Money has three functions in the economy: 交换媒介 Medium of exchange 记帐单位 Unit of account 价值储藏 Store of value 交换媒介是作为支付手段易于被接受的任何东西。 A medium of exchange is anything that is readily acceptable as payment. 没有货币，人们将不得不依靠物物交换——一种物品或服务交换另一种物品或服务——来得到他们所需要的东西。 Without money, people would have to rely on barter – the exchange of one good or service for another – to obtain the things they need. 在这种经济中，贸易要求欲望的双重一致性——一种不大可能的偶然巧合，即双方都有对方想要的物品或服务。 In such an economy, trade requires the double coincidence of wants – the unlikely occurrence that two people each have a good or service that the other wants. 货币的存在使得贸易变得容易（尽管也变得迂回了），从而便利了生产与消费。 The existence of money makes trade easier (although more roundabout), thus facilitates production and consumption. 记帐单位是人们用来标明价格和记录债务的尺度。 A unit of account is the yardstick people use to post prices and record debts. 价值储藏是人们能用来将购买力从现在转移到将来的一种东西。 A store of value is an item that people can use to transfer purchasing power from the present to the future. 财富指所有价值储藏的总量，包括货币和非货币资产。 Wealth is the total of all stores of value, including both money and nonmonetary assets. 货币 Money 股票和债券 Stocks and Bonds 房子 Houses 油画 Paintings 当人们决定以哪种形式持有自己的财富时，他们必须使每种可能的资产的流动性与资产作为价值储藏的有用性（或收益性）相平衡。 When people decide in what form to hold their wealth, they have to balance the liquidity of each possible asset against the asset’s usefulness or profitability as a store of value. 流动性是一种资产能够转换成经济中的交换媒介的容易程度。