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1 Scope of Monetary Economics
Evolution of the Banking System
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accounts aggregate aggregate supply balance sheet bank credit bank reserves base money billion borrowing capital cent changes Chapter commercial banks cost currency decrease deficit defined demand deposits demand for money deposit liabilities desired excess reserves discount rate discussion dollar earning assets economic economy's effects equation equation of exchange equilibrium fall Federal Reserve banks Federal Reserve System Figure flow foreign free reserves funds gold hold increase interest rates June Keynesian lending and investing liquidity loans and investments member banks ment monetary base monetary policy money balances money demand money stock money supply multiplier money supply process national income nonbank public notes obtain open market operations open market purchases payments period production quantity of money Quantity Theory rate of interest relative required reserves reserve ratio reserve requirements rise short-term stock of money Table transactions U.S. government securities unemployment variables vault cash yield zero