کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
9727547 1480203 2005 13 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
How required reserve ratio affects distribution and velocity of money
موضوعات مرتبط
مهندسی و علوم پایه ریاضیات فیزیک ریاضی
پیش نمایش صفحه اول مقاله
How required reserve ratio affects distribution and velocity of money
چکیده انگلیسی
In this paper the dependence of wealth distribution and the velocity of money on the required reserve ratio is examined based on a random transfer model of money and computer simulations. A fractional reserve banking system is introduced to the model where money creation can be achieved by bank loans and the monetary aggregate is determined by the monetary base and the required reserve ratio. It is shown that monetary wealth follows asymmetric Laplace distribution and latency time of money follows exponential distribution. The expression of monetary wealth distribution and that of the velocity of money in terms of the required reserve ratio are presented in a good agreement with simulation results.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Physica A: Statistical Mechanics and its Applications - Volume 357, Issues 3–4, 15 November 2005, Pages 543-555
نویسندگان
, , ,