货币体系中的乘数

The Multipliers in A Monetary System

存款乘数是实际准备率的倒数,总货币量乘数是存款乘数的线性同胚,两种乘数的本质都是部分准备制度。1r+c-rc是漏损存款模型中的存款,并不是存款乘数,存款乘数在任何时候永远都是1r。

Deposit multiplier is the reciprocal of reserve-deposit ratio, money-supply multiplier is a simple linear transformation of deposit multiplier. The essentials of both of the two multipliers are the fractional reserve system.In the fact, 1r+(1-r)c is only the unlimited increase of deposits in deposit model with cash drain, it is Absolutely not the deposit multiplier, deposit multiplier is always1r in any time.