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د افغانستان اسلامی جمهوریت د لوړو زده کړو وزارت د کندهار پوهنتون د اقتصاد پوهنځی دادارې او تشبثاتو څانګه. MONETARY POLICY د پیسو پالیسي. ترتیب کوونکی: نامزاد پوهنیار عبدالله زیارمل. د پولي پالیسي تعریف :.
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د افغانستان اسلامی جمهوریتد لوړو زده کړو وزارت د کندهار پوهنتون د اقتصاد پوهنځی دادارې او تشبثاتو څانګه MONETARY POLICY د پیسو پالیسي ترتیب کوونکی: نامزاد پوهنیار عبدالله زیارمل
د پولي پالیسي تعریف : Definition: “Monetary policy is concerned with deciding how much money the economy should have or perhaps more correctly deciding whether to increases or decrease the purchasing power of money.” By: Abdullah Ziarmal
Economic Growth اقتصادي وده ensuring that resources are not idle”
Stability of Financial Markets په مالي مارکیټونو کي ثبات “…crises caninterfere with the main function”
Stability in Foreign Exchange Market د اسعارو په مارکیټ کي ثبات “…stability makes it easier for businesses to plan ahead”
Interest Rate Stability د ربح دنرخ ثبات fluctuations can create uncertainty in economy”
د پولي پالیسي ډولونه Contractionary / Tight monetary policy “Tight monetary policy, also called contractionary monetary policy, tends to curb inflation by contracting/reducing the money supply” انقباضي پولي پالیسي
Expansionaryانبساطي پولي پالیسي Easy monetary policy “Easy monetary policy, also called expansionary monetary policy, tends to encourage growth by expanding the money suppl
د پولي پالیسي ابزار (وسایل ) • Open Market Operations • Bank Rate Cash Reserve • Discount rate
Open Market Operations The buying and selling of government securities by the Reserve Bank on secondary markets
Required Reserve and Monetary Policy • A certain fraction of deposits that a depository institution is required to reserve . Set by the central bank Affects the size of loan that the bank can offer.
Monetary policy transmission mechanism The connections between changes in money supply and money demand and its effects on aggregate demand is called Monetary policy transmission mechanism
Monetary policy transmission mechanism has 3 stages : • Stage 1 : change in money supply (MS) or in money demand (MD) changes interest. • Stage 2 : changes in interest changes investment . • Stage 3: change in investment changes aggregate expenditures.
Homework: • What can a central bank do in case if ? • Demand shocks (AD) • Permanent supply shocks(LRAS) • Temporary supply shocks ( SRAS)