Chapter 14. Monetary Policy and the Federal Reserve System. Chapter Outline. Principles of Money Supply Determination All currency All reserve Fractional reserve Tools Monetary Control in the United States The Conduct of Monetary Policy: Rules Versus Discretion ( skip ).
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Monetary Policy and the Federal Reserve System
M = CU + DEP (14.4)
M/BASE (CU+DEP)/(CU+RES) (14.6)
M/BASE [(CU/DEP) + 1]/[(CU/DEP) + RES/DEP)] (14.7)
M [(cu + 1)/(cu + res)]BASE (14.8)