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jvniki · 2024年03月14日

这题能整体讲一下么

NO.PZ2023071902000059

问题如下:

Question

Under which of the following circumstances does monetary policy have the most significant impact?

选项:

A.

When the demand for money exhibits infinitely elastic.

B.When the central bank pursues an exchange rate targeting approach.

C.

When the risk of inflation outweighs the risk of deflation.

解释:

Solution

  1. Incorrect because a situation of perfect elasticity in the demand for money can result in a liquidity trap. In highly extreme scenarios, the demand for money becomes infinitely elastic, causing additional injections of money into the economy to have little effect on interest rates or real economic activity. This phenomenon, known as a liquidity trap, renders monetary policy largely ineffective.
  2. Incorrect because adopting an exchange rate targeting approach by the central bank leads to adjustments in domestic interest rates and money supply to achieve the targeted exchange rate, potentially increasing volatility in the domestic economy.
  3. Correct because deflation presents greater challenges to the central bank compared to inflation. Deflation involves a persistent and widespread decline in the general price index, making it harder for conventional monetary policy to address effectively. The difficulty arises from the limitation of cutting nominal interest rates significantly below zero to stimulate the economy. These conditions can lead to the emergence of a liquidity trap, further hindering the effectiveness of monetary policy.

Monetary Policy

还是没太理解 a和 b 为什么不选择

1 个答案
已采纳答案

笛子_品职助教 · 2024年03月15日

嗨,爱思考的PZer你好:


这题能整体讲一下么

还是没太理解 a和 b 为什么不选择


Hello,亲爱的同学~

可以的,老师三个选项都讲一下。


A选项,When the demand for money exhibits infinitely elastic.

货币需求无限弹性,意味着无论央行怎么刺激,人们都始终持有现金,不会投资和消费。

这样,货币政策的效果就不好了。


B选项:When the central bank pursues an exchange rate targeting approach.

当央行采取目标汇率制的时候。汇率会限制货币政策的发挥。

例如,央行需要把汇率维持在一个相对窄的固定区间里。

当央行大力宽松货币的时候,本国利率降低,资本会流出本国,去高利率的国家赚取高息。这会让汇率贬值。

一旦汇率贬值幅度过大,超过了央行设定的目标,央行为了维持汇率,将不得不改变宽松货币政策。


C选项:通胀高的时候

紧缩性货币政策来抑制通胀是最管用的。

而宽松的货币政策抑制通缩,相对没那么管用,因为可能存在选项A的情形。

C正确。




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虽然现在很辛苦,但努力过的感觉真的很好,加油!

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2024-07-28 21:04 1 · 回答

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