ʻAʻole hana ka panakō me ka hāʻawi kālā!
Manaʻo wau ua lohe ʻoe i kēia ʻōlelo. ʻO nā mea hoʻokele waiwai kiʻekiʻe e like me Prof. Hyman Minsky e kamaʻilio e pili ana i ka ʻōnaehana hana o nā panakō a ʻōlelo maopopo ʻole ʻaʻole hāʻawi kālā nā Banks. Pilikia paha ke kani, ʻeā?
Wahi a nā puke kuʻuna e pili ana i ka hoʻokele waiwai hoʻomaka, ua hōʻike ʻia nā panakō ma ke ʻano he mau mea hoʻopukapuka kālā nona ka hana nui e hoʻopili i nā mea hōʻaiʻē i nā mea mālama.
Ma nā huaʻōlelo maʻalahi, ʻo nā panakō he mea ʻokoʻa wale nō ka mea i hiki ke noʻonoʻo ʻia i ka hoʻokele waiwai o kēia mau lā.
ʻO ke kaʻina hana panakō holoʻokoʻa e pili ana i kahi pūʻulu kālā e pili ana i kahi kanaka loaʻa i uku ʻia ma luna o nā pono ʻai maʻamau, nāna e waiho i ke kālā hou i kahi panakō i hoʻokumu ʻia. Ua ʻike ʻia kēia ʻo ka reservoir of funds.
Me kēia mau kālā, hāʻawi ka panakō i ka poʻe i hāʻule ka loaʻa kālā ma lalo o ka pono hoʻohana maʻamau. No laila, ke hana nei nā panakō ma kahi ʻōnaehana panakō fractional, kahi e hāʻawi ai nā panakō ma mua o ka huina i waiho ʻia.
Akā, pehea kaʻu e ʻōlelo ai e loaʻa kālā hou nā panakō ke hāʻawi lākou?
ʻAe, he hopena hoʻonui kālā kēia e hoʻonui ai i ka pōʻai kālā.
Ma ke kamaʻilio ʻana e pili ana i ka hōʻaiʻē kālā, i kēia lā ke kūkākūkā nei mākou i ka hana ʻana o ka panakō waena inā ʻaʻole ia e hāʻawi kālā.
No laila, e hoʻomaka kākou!
Pehea e hana ai ka Bank?
Ua akaka mai luna mai, ua hilinaʻi nui ʻia ka hiki ke hōʻaiʻē o ka panakō waena i ka nui o nā waihona kālā a nā mea kūʻai aku. A i mea e hoʻonui ai i ka palena hōʻaiʻē, pono nā panakō e huki i nā mea kūʻai aku no nā waihona hou.
Me kēia, hiki ke ʻōlelo maʻalahi ʻo nā waihona e hana i nā hōʻaiʻē.
Ke hana nei ke kaʻina hana hōʻaiʻē o ka panakō ma ke kumumanaʻo hoʻonui kālā, e hana like ana me ka waihona waihona puʻupuʻu. Ma ʻaneʻi, pono e mālama ʻia kahi hapa o ke kālā i waiho ʻia ma ke kālā a i ʻole e waiho ʻia i loko o ka waihona kālā o ka panakō kalepa ma ka panakō waena.
Hoʻoholo ʻia kēia nui e nā koi hoʻopaʻa, nona ka huina kālā i manaʻo ʻia ʻo ka nui o ka mālama ʻia ʻo ia ka hiki ke hōʻaiʻē i ka panakō.
No laila, inā ʻōlelo ʻia ka koi ʻana he 10% a ʻo kāna mea hoʻonui he ʻumi, hiki i nā panakō ke hōʻaiʻē ʻumi mau manawa ma mua o nā waihona.
ʻO kekahi kumu e pili ana i ka hiki ke hōʻaiʻē i ka panakō, ʻo ia ke kulekele kālā o ka panakō waena, e hoʻopau ana i ka hoʻoholo no ka hoʻonui ʻana a i ʻole ka emi ʻana o nā waiwai mālama. Eia nō naʻe, me ka mana o ke kulekele pili kālā a me ka palena ʻana i ka hoʻonui ʻana i ka waihona, ʻo ke ala ʻē aʻe no nā panakō e hoʻonui ai i kā lākou hiki ke hōʻaiʻē ma ka mālama ʻana i nā waihona hou.
A e like me kā mākou ʻike, hana ʻia nā hōʻaiʻē me nā waihona, ʻo ia hoʻi, pono nā panakō i ke kālā o nā mea kūʻai aku e hoʻomau i nā hōʻaiʻē.
Hoʻolālā no nā hōʻaiʻē Bank
I nā huaʻōlelo maʻalahi, ʻoi aku ka nui o nā kālā i ka wā e hāʻawi ai lākou, kahi e hoʻonui ai i ka pōʻai kālā.
Ua ʻike ʻia he kuleana ko nā panakō e hoʻopuka i nā hōʻaiʻē i hāʻawi ʻia e ke aupuni me ka ʻole o ka hoʻopaʻa ʻana i ka waihona ma kahi mua. Hoʻoholo ʻia ka nui o ka hōʻaiʻē o nā panakō e nā hoʻoponopono a me nā kulekele o ka panakō waena.
Eia nō naʻe, ke kuhikuhi pū nei ka panakō waena i nā panakō kalepa e hoʻopaʻa i kahi nui o ke kapikala wai, hiki ke kālā a i ʻole kekahi mea hiki ke kūʻai koke ʻia e pili ana i ka hōʻaiʻē i hoʻopuka mua ʻia.
Hoʻokumu kālā e nā Banako
ʻIke ʻia ka hoʻolālā ʻaiʻai ʻana o nā panakō no ka hoʻokumu ʻana i ke kālā, ʻo ia ka mea e ulu nui mai nā mea ʻelua. ʻO kēia nā:
Helu Kaulua
Ma kēia ʻano, no ka hana ʻana i nā waiwai hōʻaiʻē hou, pono ka panakō i ka hana ʻana i kahi kuleana like. Lilo kēia i ka waihona hou i loko o ka panakō i hana ʻia e ka hōʻaiʻē hou.
No ka laʻana, inā hāʻawi kahi panakō iā Rs.100 i kāna mau mea kūʻai aku, a laila e hana ʻo ia i waiwai hōʻaiʻē hou nona ka INR 100, ʻo ia ka waihona hou.
ʻO ke ana a me ka wehewehe ʻana i ke kālā
ʻElua mau ʻano kālā:
- Ke kālā kumu: Hana ʻia e ka Central Bank (kālā a me nā waihona kālā).
- Kālā nui: Hana ʻia e ka Private sector, e helu ana i nā ana hoʻolako kālā.
ʻO ka hapa nui o ke kālā e hoʻohana ai nā kānaka i kēlā me kēia lā he kālā ākea. No ka laʻana, ke hoʻololi pololei ka mea hana i kāu uku i kāu waihona kālā, he kālā ākea. Pēlā nō, ke uku ʻoe no kekahi moraki, he kālā ākea. Manaʻo ʻia ke kālā he kālā kumu wale nō inā he panakō ʻoe.
Ma waho aʻe o nā panakō, uku kāleka Hāʻawi pū nā uniona i nā hōʻaiʻē a hana i nā pālua waiho kālā. Eia nō naʻe, hana lākou i ka "aie," ʻaʻole "kālā," no ka mea ʻaʻole i helu ʻia kā lākou waihona ma M1 (kālā liʻiliʻi me ka nui o ka wai a me ka maʻalahi i nā kālepa). Eia naʻe, hiki i nā mea kūʻai ke hoʻohana i ka hōʻaiʻē no ke kūʻai ʻana e like me ke ʻano o ke kālā.
ʻO nā mea hana kulekele kālā a ka Central Bank
ʻO ka hiki ke hōʻaiʻē o nā panakō ma muli o ke kulekele kālā o nā panakō. ʻEhā mau mea hana o ke kulekele Monetary o ka Central Bank. ʻO kēia nā:
Koi Koi
E pili ana ia i ka nui o ke kālā a nā panakō e mālama ai. Mālama ʻia ia i loko o nā waihona kālā a i ʻole nā waihona waihona kālā ma ke kikowaena waena. ʻO nā koi haʻahaʻa haʻahaʻa e hōʻike ana i nā panakō e hōʻaiʻē hou aku, i kapa ʻia ʻo ka expansionary monetary policy, no ka mea e hana ana ia i ka hōʻaiʻē.
ʻOiai e hōʻike ana nā koina hoʻopaʻa kiʻekiʻe e hōʻaiʻē nā panakō i ke kālā liʻiliʻi, i kapa ʻia ʻo ke kulekele monetary contractionary. E ʻoi aku ka paʻakikī o nā panakō liʻiliʻi no ka mea ʻaʻole lawa kā lākou waihona e hōʻaiʻē mua ai. ʻO ia ke kumu e pale aku ai nā panakō waena i nā panakō liʻiliʻi me nā koi mālama.
Na Hana Makeke Wehe
ʻO ka mea hana hou aʻe ʻo Open Market Operations, e pili ana i ke kūʻai ʻana a me ke kūʻai ʻana i nā securities aupuni e ka panakō waena. Hana ʻia kēia hoʻololi ma waena o nā panakō waena a me nā panakō pilikino.
Ke kūʻai ka panakō waena i nā securities aupuni, hoʻonui ka nui o nā waihona kālā, e hoʻonui i ka palena hōʻaiʻē o nā panakō. A ke kūʻai aku lākou i ka palekana, hoʻohui ia i nā panakō. pepa palekana, e emi ana ka waihona kālā. No laila, ke emi nei ka palena ʻaiʻē.
No laila, kūʻai nā panakō waena i nā palekana no ka loaʻa ʻana o kahi kulekele kālā hoʻonui a kūʻai aku i nā mea like e hoʻokō ai i kahi kulekele pili kālā koʻikoʻi.
A ʻo ia kahi e komo ai ka hana mākeke ākea, kahi e hoʻokele ai nā Federal Reserves i ka uku kālā hānai. ʻO nā kālā Fed ka nui i hōʻaiʻē ʻia e ka panakō kumu mai kahi waihona ʻē aʻe me ke kālā keu.
ʻO ka ukupanee e hoʻihoʻi ʻia ai ka uku kālā hānai. ʻO ia kahi i hoʻohana ʻia ai ka Open Market Operations ma o ka hoʻokumu ʻana i kahi manawa no nā panakō e hoʻokō i kā lākou pahuhopu.
Helu uku ho'ēmi
E pili ana kēia i ka uku e hāʻawi kālā ai ka panakō waena i nā waihona lālā ma ka puka hoʻemi. ʻOi aku ka kiʻekiʻe ma mua o ka uku kālā hānai, e hōʻike ana e hoʻohana wale ʻia ka uku hoʻemi inā ʻaʻole hiki i nā panakō ke hōʻaiʻē kālā mai nā panakō ʻē aʻe.
Me kēia puka aniani hōʻemi, hoʻopili ʻia ka stigma!
Ke hoʻohana kekahi panakō i ka puka hoʻemi, manaʻo ʻia aia i loko o ka pilikia kālā i nā maka o ke kaiāulu kālā.
Ka ukupanee ma na Waihona
Ua hoʻokumu ʻia ka ukupanee ma nā waihona ma hope o ka pilikia kālā o 2008. ʻO ka Bank of England, The Federal Reserve, a me ka European Central Bank e uku i kekahi nui o ka ukupanee i ka wā e paʻa ai nā waihona kālā.
Hoʻohaʻahaʻa ʻia ka uku keu i ka wā e makemake ai ka Fed e hōʻaiʻē hou aʻe a ʻoi aku hoʻi inā makemake ʻo ia e hōʻaiʻē liʻiliʻi. Hele mai kēia mea hana i ka hālāwai ʻana i ka pahuhopu o nā kālā hānai.
Pehea ka hana ʻana o nā mea hana Monetary Policy?
ʻO ka hana mua o nā mea hana kulekele monetary central bank e hoʻonui a hoʻemi i ka nui o ka wai. E pili ana i ka huina kālā i loaʻa no hoʻokomo kālā a me ka hoolimalima. Loaʻa pū kekahi i ke kālā a me ka hōʻaiʻē e ʻai ai ka mea kūʻai.
ʻO kēia mau mea hana i manaʻoʻia heʻoi aku ma mua o ka hāʻawi kālā, i kapaʻiaʻo M1 a me M2. ʻO ka hōʻailona mua e hōʻike ana i ke kālā a me nā waihona kikoʻī, aʻo ka mea hope e pili ana i ke kālā mākeke kālā, nā waihona mālama kālā, a me nā CD.
ʻO ka hana o nā panakō i ka manawa maoli
I kēia mau lā, lawe ke kālā i ke ʻano o ka waiho ʻana ma mua o ka hana ʻia ʻana e nā mea mālama kālā i hāʻawi i nā panakō e ʻauʻa i kā lākou kālā. Ke hoʻonui nā panakō i kā lākou hōʻaiʻē, hana ʻia nā waihona.
Ma ka hōʻaiʻē kālā, hana nā panakō i ʻelua mau helu inoa - hoʻokahi ma ka ʻaoʻao waiwai a ʻo kekahi ma ka ʻaoʻao kuleana - ma ka waihona koena. Hana ka hōʻaiʻē ma ke ʻano he waiwai no nā panakō a, no laila, hoʻokumu i nā waihona hou, e hana ana ma ke ʻano he kuleana i nā paʻa o nā mea kūʻai.
A inā pēlā, hana nā panakō kūʻokoʻa i ke kālā, e kūʻē i ka pono a me ke kuleana o ka Central Bank ma ka hana ʻana pēlā. ʻO ka ʻoiaʻiʻo, ʻaʻole hiki i nā panakō ke hana i ke kālā me ka ʻole o ke komo ʻana o ka panakō waena, kahi e hana ai ka hoʻonui a me ka emi ʻana o nā koi mālama.
ʻAʻole hiki ke hoʻopaʻa ʻia nā koi mālama ʻia ma ke ʻano he mea paʻa i ka hiki i nā panakō ke hōʻaiʻē, ʻaʻole ia e hōʻemi i ke kahe o ke kālā. No laila, hāʻawi nā panakō i ke kālā a laila e ʻimi i ka mālama pono e pono ai lākou ma hope.
Panina
ʻAʻole hāʻawi nā panakō; hana lākou i ke kālā ex nihilo ma ka hoolimalima.
Hāʻawi wale lākou i nā waihona i hana ʻia e ka Central Bank i kekahi i kekahi. ʻO ka mālama ʻana a me nā koi waiwai e hōʻoia i ka hoʻoholo ʻana o nā panakō i ka hoʻihoʻi ʻana o ka mea kūʻai aku.
Eia kekahi, ua manaʻo ʻia ʻo Profitability Expectations kekahi o nā palena alakaʻi i ka hiki ke hāʻawi kālā. He mana ko nā panakō e hāʻawi mua i ke kālā a laila e ʻimi i nā waihona e uhi ai. No kēia, makemake lākou e huki i nā mea kūʻai aku e hoʻopaʻa i nā waihona.
No laila, ʻaʻole koi nā Panakō i ke kālā o nā mea kūʻai aku, a ʻoi aku ka maʻalahi o ka mālama ʻana i kāu mau waihona ma mua o nā panakō ʻē aʻe.
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