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Read the text and do the tasks 1. The central bank is the monopoly supplier of base money. At the sa...: ответ на тест 1029304 - Английский язык

Read the text and do the tasks
1. The central bank is the monopoly supplier of base money. At the same time, the central bank can, via imposing minimum reserve requirements, exert a (pre-dominant) influence on the demand for central bank money. That said, the central bank is in a (comfortable) position to manage the conditions in the market for central bank money (usually referred to as money market), that is determining the quantity of base money or the interest rate on base money balances.
2. Figure 1.25 shows a simple model of the inter-bank money market (for, say, 1-month money), where the interest rate is determined by the demand for and supply of base money. The demand is determined by minimum reserves, the cash drain and working balances. Supply is determined by the central bank’s regular operations and by autonomous factors (such as, for instance, deposits being shifted from central bank to commercial bank accounts and vice versa).
3. In their money market operations central banks aim to ensure an orderly functioning of the money market, helping credit institutions to meet their liquidity needs in a smooth manner. This is typically achieved by providing regular refinancing to banks and facilities that allow them to deal with end-of-day balances and to cushion transitory liquidity fluctuations. What is more, central banks tend to signal their monetary policy stance to the money market via changing the conditions under which the central bank is willing to enter into transactions with commercial banks.
(Ansgar Belke : Monetary economics in globalised financial markets / A. Belke, T. Polleit. – Springer, 2009. – P.325).
Define the statements which correspond to the contents of the text.
Варианты ответов
  • According to the text, demand is determined by deposits, which can be relocated from the central bank to commercial ones.
  • It was noted in the text that central banks can vary their terms in order to have deals with commercial banks.
  • The interest rate of the bank depends on demand and supply, which concern base money.
  • It is clear from the text that the central bank is one of the main suppliers of money in the state.
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Вопрос задал(а): Анонимный пользователь, 13 Ноябрь 2020 в 17:31
На вопрос ответил(а): Анастасия Степанова, 13 Ноябрь 2020 в 17:31

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Вопрос № 1029309

Read the text and do the tasks
1. The central bank is the monopoly supplier of base money. At the same time, the central bank can, via imposing minimum reserve requirements, exert a (pre-dominant) influence on the demand for central bank money. That said, the central bank is in a (comfortable) position to manage the conditions in the market for central bank money (usually referred to as money market), that is determining the quantity of base money or the interest rate on base money balances.
2. Figure 1.25 shows a simple model of the inter-bank money market (for, say, 1-month money), where the interest rate is determined by the demand for and supply of base money. The demand is determined by minimum reserves, the cash drain and working balances. Supply is determined by the central bank’s regular operations and by autonomous factors (such as, for instance, deposits being shifted from central bank to commercial bank accounts and vice versa).
3. In their money market operations central banks aim to ensure an orderly functioning of the money market, helping credit institutions to meet their liquidity needs in a smooth manner. This is typically achieved by providing regular refinancing to banks and facilities that allow them to deal with end-of-day balances and to cushion transitory liquidity fluctuations. What is more, central banks tend to signal their monetary policy stance to the money market via changing the conditions under which the central bank is willing to enter into transactions with commercial banks.
(Ansgar Belke : Monetary economics in globalised financial markets / A. Belke, T. Polleit. – Springer, 2009. – P.325).
Choose the correct summary of the text.
The passage I’ve just read is from the monograph «Monetary economics in globalised financial markets» edited by Ansgar Belke and Thorsten Polleit. The passage examines two factors: the demand and the supply. They both depend on central bank’s activity. The extract gives us an outline about the aim of the central bank to ensure functioning of the money market. Credit institutions provide regular refinancing to banks to cushion transitory liquidity fluctuations. Central banks can also change their conditions in order to have deals with commercial banks.
The extract touches upon the issue of central bank’s position in the money market. It helps lots of credit institutions to meet their liquidity needs in a smooth manner. I’d like to note that there exist the demand, determined by minimum reserves and the cash drain and the supply, determined by the central bank regular operations. It stands to reason that the central bank’s aim is to ensure orderly functioning of the money market in order to help credit institutions to meet their liquidity needs smoothly. To do it, they provide regular refinancing to banks and facilities that allow them to deal with end-of-day balances and to cushion transitory liquidity fluctuations.
The title of the monograph the passage is taken from is «Monetary economics in globalised financial markets» edited by Ansgar Belke and Thorsten Polleit. The central bank is the main supplier of base money. It can exert an influence on the demand for central bank money. It’s in a good position to manage the conditions in the market for central bank money. There are two factors here: supply and demand. They are determined by different bank’s activities, for example, supply is determined by deposits that the central bank can shift to the commercial bank. I’d like to mention here that banks try to signal their monetary policy stance to the money market. So I think they do it to make deals with commercial banks.
The extract I would like to speak about is from the monograph «Monetary economics in globalised financial markets» edited by Ansgar Belke and Thorsten Polleit. The extract faces the problem of the central bank as the monopoly supplier of base money. The main idea of the passage is to define the demand and the supply, determined by different factors. The author considers the demand, determined by minimum reserves, the cash drain and working balances. As for the supply, it is indicated as a phenomenon, depending on regular operations of the central bank and other autonomous factors. It should be taken into account, that central banks can vary their terms in order to have deals with commercial banks.

Вопрос № 933263

Прочитайте текст и заполните пропуски подходящими по смыслу словами.
The 1_______ of the central bank are many and of a varied character. Firstly, in relation to the large number of commercial banks, it acts as a banker. It accepts 2_______ from, and extends loans to the banks in the country. The central bank is, therefore, rightly called bankers’ bank. Secondly, the 3_______ bank is the lender of the last resort, i.e., in any emergency, if the banks of the country are not in a position to extend credit to the genuine borrowers, the central bank must come to the assistance of the money market and save it from a crisis. Thirdly, the central bank is the 4_______ of the Government. When the Government needs loans for its current requirement for short periods, the central bank is obliged to extend credit to the Government.
functions
deposits
central
banker

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Вопрос № 1029305

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1. In most countries, price stability has become the primary objective of monetary policy. Central bankers, economists, and other knowledgeable observers around the world agree that price stability both contributes importantly to the economy’s growth and employment prospects in the longer term and moderates the variability of output and employment in the short to medium term.
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3. The idea of preserving the value of money by stabilising the economy’s price level – which is actually typically represented by a consumer price index – is based on the work of Irving Fisher (1867–1947) between 1895 and 1922, in particular on Fisher’s The Making of Index Numbers from 1922. Fisher was one of the first experts on the calculation of price index numbers, and he began the first weekly newspaper publication of a wholesale price index in 1923. Before that, the value of the currency was fixed against a certain amount of gold. In fact, Fisher’s «index regime» has become the «state-of-the-art» concept in monetary policy.
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Вопрос № 1029306

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1. Heterodox economists also criticize the textbooks’ treatment of international trade for de-emphasizing the geopolitical context of free trade rhetoric. Trade patterns and other international economic relations have always been deeply influenced by geopolitical factors, exemplified by colonialism, persistent threats of military or covert interventions over economic issues, and the use of foreign aid as a lever for structuring trade relations. This continues today.
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Вопрос № 1029307

Read the text and do the tasks
1. Clearly, the specific form of independence may matter for inflation. Debelle and Fischer maintain it is goal dependence and instrument independence that would produce low inflation. In fact, such an arrangement may prevent policy makers from changing the objective of policy on a frequent basis, thereby provoking the time inconsistency problem.
2. What is more, even if central bank independence leads to low inflation, the case for independence might be greatly weakened if it is accompanied by a growing real economic instability. However, little relationship was found between measures of real economic activity and central bank independence.
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Вопрос № 1029308

Read the text and do the tasks
1. Originally, economists used to think in terms of commodity price rules for issuers of currency to follow. For them the most natural way was to implement a system of property-rights-respecting rules, which imposed on the issuers of currency the obligation to maintain a particular exchange rate between their currencies and one or more commodities.
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