고, discount rate → Fundq rate

I requiremect
π, reserne

Graph .
πτ ) marlot
open
^

LX
money print
τV)
①

Money
Ma : , transaction P S
.

"
④
-

↑
iqucdiey 이

preference
theony Mp ( P .
9)

M
ㆁ

of
②

'
Quantrty Theony Movey
M= PY:. Mst x PL
nentratey
\

A movetaly
valueof
Mg

ㄴ
λ
M inflat x valo of ud

> Mxt

MD
M
1) TheFed bars /sells bonds
① the
change of
movey suply
: BX AM

② the chauge of demand

del osit :
)
BX AM
the changeof credrtcheattononl AM
③ oan : 금 XAM -

andfrums
27 The
public ( housetholds )
puttheinCash in demand
depost
.

D the change of moneysupply

: 금 XAM -

Adepos τ t
② " a ca demand deposTy 금
:
XAM
Loanable Funds Market
market and real )
Cconnecting money economy
n
NSChousehlds firms

X
가
,

and
the g
)
0

G )
budget

* ( firms )
「 coan
ㅇ

expansionary
fiscal poticy : c -
a) d
deficiy
t

→
Td Gat → budget
-

or

→
funddselkybuyy
bond
, ⇒ theEed ) (

계 중요 )
@

X ( 안중요 )

* 스 GX N →↓
crowdTny :
-

out → *

→
grow
th rated

*
muleuptet ←
'

(
s

tax
mutrprer : c
-
"
"

balanced budget mutrpker : 9

 Bntattonary
_}
up

작다
reflattonary gap
slanned
Yspd
^

uvestwent
-
.

_ "

?
:
Ya
Ya Yp
와
T
-C
'
AG CAT …
)

* manket
cunnancy
XX →~인
nt → inflow of
capreol # →
X
$

ist
nn theus ) ~

XX ↑
$

*
π

ㅇ
"
이
Or …
⇌ ,$
 LRPC
π

5%

∅
-
L
%
-

‰
-

:
Ua

%
SRPC

U
( 6% )

l) actual infla 5% ,
actual unemployuert 7 %
hatural nate of unemployunt 3 %

)C → Atthe natural nateof umemployunt 「

Tufla ? move than 5

%

natunal of %
unemploynt
) rate 3

expected vate of infla 6 f%

actuwaluflanare ,less than6

QI → ‰