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M makroekonomika

M makroekonomika. Lleqcia 4 – fulis bazari ( LM modeli ) nikoloz ostapenko. mimoqcevis saSualeba . – am funqciis mixedviT fulis saSualebiT vaxorcielebT saqonlisa da momsaxurebis yidva gayidvas(likvidobis Tviseba).

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M makroekonomika

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  1. M makroekonomika Lleqcia 4 – fulis bazari (LM modeli) nikoloz ostapenko

  2. mimoqcevis saSualeba. – am funqciis mixedviT fulis saSualebiT vaxorcielebT saqonlisa da momsaxurebis yidva gayidvas(likvidobis Tviseba). dagrivebis saSualeba _ adamianebi mTel Tavis fuls umal ar xarjeven roca ki maT miiReben. maT uCndebaT survili sxva dros SeiZinon esa Tu is saqoneli da momsaxureba. amasTan dakavSirebiT fuls gaaCnia Rirebulebis Senaxvis Tvisaba da maSasadame dagrovebis funqciac. Rirebulebis sazomi _ fulis saSualebiT vaxdenT bazarze arsebuli n raodenobis produqciis Rirebulebis Sefasebas. is bazarze Rirebulebis sazom ganyenebul saSualebad gvevlineba. amitom misi saSualebiT SegviZlia gamovsaxoT n raodenobis produqciis fardobiTi fasebi, gansazRvrul fulad erTeulSi. • leqcia 34– fulisbazari(LM modeli) fulis funqciebi Sesavali

  3. fulisoriTviseba: maRalilikvidurobadaRirebulebisSenaxvisTviseba – araxasiaTebsTanabarixarisxiTfulisyvelasaxeobas. naRdifulidamoTxovnamdedepozitebiufrolikviduria, vidreSemnaxvelidepozitebi an vadianidepozitebi. magramesukanasknelebiufromomgebianiaRirebulebisSenaxviskuTxiT. amismixedviTfuladstatistikaSigamoyofenfulisoTxagregats: M0= naRdifulidamonetebimimoqcevaSi; M1= M0+ moTxovnamdeanabrebi; M2= M1+ ucxourivaluta, moklevadianifasianiqaRaldebi, saSualovadianianabrebi, Semnaxvelianabrebi; M3= M2+ vadianianabrebi, fasianiqaRaldebi; • leqcia 34– fulisbazari(LM modeli) fulis masis struqtura Sesavali

  4. leqcia 34– fulisbazari(LM modeli) fulis masis struqtura saqarTveloSi 2008 dekembris mdgomareobiT Sesavali M3=4,305,126,000 lari M2=1,862,498,000 lari M1=1,642,081,787 lari Mo=1,290,703,285 lari

  5. leqcia 34– fulisbazari(LM modeli) erovnuli bankis balansis ZiriTadi muxlebi Sesavali • erovnli banki sakuTari aqtivebis SemcirebiT amcirebs fulis masas mimoqcevaSi, xolo gazrdiT zrdis.

  6. leqcia 34– fulisbazari(LM modeli) komerciuli bankebis balansis ZiriTadi muxlebi Sesavali • erovnli banki uwesebs komerciul bankebs minimalur savaldebulo rezervebis normas, romlis mixedviTac komerciuli bankebi TavinTi aqtivebis nawils inaxaven erovnul bankSi.

  7. leqcia 34– fulisbazari(LM modeli) fulismultiplikatori fulismultiplikatori – rogorqmnissabankoseqtorifuls? • rodesacerovnulibankisxvadasxvainstrumentebisgamoyenebiTzrdismimoqcevaSifulismasas(vTqvaT 100 ful. erT.). esfulipirdapiriTuiribigziTxvdebakomerciulbankebSi, romlebicsavaldebulorezervebisnormis(vTq. rezervebisnormam=10%) gaTvaliswinebiTfulisnawilsiseverovnulbankSiinaxaven( 100.10%=10) nawilikvlavgadismimoqcevaSikreditebissaxiT(90 erT.). esfulikvlavbrundebakomerciulbankebSi. komerciulibankebikvlavinaxavensavaldebulorezervebserovnulbankSi (90.10%=9) dadarCenilTanxaskvlavuSvebenmimoqcevaSi(72 erT.) esprocesiusasrulodgagrZeldeba. CvenSegviZliaesprocesiSemdegisaxiTCavweroT: • ΔM0–is Tanamamravliusasrulogeometriuliprogresiisjamia, romelictolia: - fulismartivimultiplikatori. igigviCvenebsramdeniTgaizrdebafulismasaTuerovnulibankierTierTeuliTgazrdisfulismiwodebasmimoqcevaSi.

  8. leqcia 34– fulisbazari(LM modeli) fulze moTxovna garigebebisaTvis. fulzemoTxovna • fulisoriumTavresifunqciidangamodinare – fulirogorcmimoqcevissaSualebadafuli, rogorcdagrovebissaSualeba – adamianebisxvadasxvamotiviTayalibebenfulzemoTxovnas: • fulzemoTxovnagarigebebisaTvis– romelicfulis, rogorcmimoqcevissaSualebisfunqciidangamomdinareobs. • fulzemoTxovnarogorcqonebaze(spekulaciurimotiviT) - romelicfulis, rogorcdagrovebissaSualebisfunqciidangamomdinareobs.

  9. leqcia 34– fulisbazari(LM modeli) fulze moTxovna garigebebisaTvis fulzemoTxovna • yovelilariwlisganmavlobaSiramdenimegarigebas debs, sididesromelicfuliserTierTeulismiergarigebebisganxorcielebissixSiresgamoxatavsdroisgarkveulSualedSifulisbrunvissiCqare(V) ewodeba. • TuviciTramdeniafulismasamimoqcevaSi(M) dafulisbrunvissiCqare(V), maSin MMV iqnebadroisgarkveulSualedSimTeligarigebebisnominaluriRirebuleba. • CvenviciTromTuYarismTeliwlismanZilzewarmoebulisaqonlisadamomsaxurebisRirebuleba, xoloPfasebis done, maSinPYiqnebawlismanZilzewarmoebulisaqonlisadamomsaxurebisRirebuleba. igivenominalurimSp. • wlismanZilzewarmoebulisaqonlisadamomsaxurebisRirebulebatoliundaiyoswlisganmavlobaSimTeligarigebebisnominaluriRirebulebis. maSasadamegveqneba:

  10. leqcia 34– fulisbazari(LM modeli) M/P Y fulzemoTxovna • Tu Cven gamosaxulebas Semdegnairad gadavwerT: • miviRebT garigebebisaTvis fulze moTxovnis gantolebas. LD • garigebebisaTvis fulze moTxovnis grafiki tgα=1/V α

  11. leqcia 34– fulisbazari(LM modeli) fulze moTxovna rogorc qonebaze fulzemoTxovna • fulze moTxovna rogorc qonebaze, igive spekulaciuri moTxovna ukavSirdeba saojaxo meurneonebis mier momavlisadmi optimistur Tu pesimistur ganwyobas da agreTve safinanso bazarze riskisa da gaurkvevlobis mdgomareobas. amitomac mas ukavSirdeba miswrafeba naRdi fulis SenarCunebisaken – midrekileba likvidurobisaken. • midrekileba likvidurobisaken moqmedebs saprocento ganakveTis sidideze da mis ryevaze. rac ufro maRalia midrekileba likvidurobisaken, miT maRalia saprocento ganakveTi da piriqiT. • meoresmxriv saprocento ganakveTic zemoqmedebs likvidurobisaken midrekilebaze. rac ufro maRalia saprocento ganakveTi, miT maRalia midrekileba likvidurobisaken da piriqiT. maSsadema fulze moTxovna rogorc qonebaze Segvizlia gamovsaxoT:

  12. leqcia 34– fulisbazari(LM modeli) i M fulzemoTxovnarogorcqonebaze fulzemoTxovna

  13. leqcia 34– fulisbazari(LM modeli) LMmodeli wonasworobafulisbazarze – LMmodeli • wonasworoba fulis bazarze myardeba maSin, roca fulize moTxovna(L) da fulis mowodeba(M) erTmaneTis tolia. aqedan gamomdinareobs Tavad modelis saxelwodebac. • fulis miwodeba iTvleba egzogenurad mocemulad, radgan erovnuli banki sakuTari amocanebis Sesabamisad axorcielebs fulis miwodebas.

  14. leqcia 34– fulisbazari(LM modeli) LMmodeli wonasworobafulisbazarze – LMmodeli i LM M/P Y 1/V Las M/P Ltr

  15. leqcia 34– fulisbazari(LM modeli) LMmodeli Tuicvlebamidrekilebalikvidurobisaken (CvensSemTxvevaSimcirdeba) i LM M/P Y 1/V Las M/P Ltr

  16. leqcia 34– fulisbazari(LM modeli) LMmodeli TumoTxovnafulzerogorcqonebazeicvleba (CvensSemTxvevaSiizrdeba) i LM M/P Y 1/V Las M/P Ltr

  17. leqcia 34– fulisbazari(LM modeli) LMmodeli TumoTxovnafulzegarigebebisaTvisicvleba (CvensSemTxvevaSiizrdeba) i LM M/P Y Las M/P Ltr

  18. leqcia 34– fulisbazari(LM modeli) LMmodeli Tufulismiwodebas cvliserovnulibanki (CvensSemTxvevaSiamcirebas) i LM M/P Y Las M/P Ltr

  19. leqcia 3 – saqonlisadamomsaxurebisbazari(IS modeli) ZiriTadicnebebidasakiTxebi • fulismasisstruqtura • erovnulibankisbalansi • komerciulibankisbalansi • fulisfunqciebi • mimoqcevissaSualeba • dagrovebissaSualeba • Rirebulebissazomi • fulismartivimultiplikatori • fulzemoTxovna • fulzemoTxovnagarigebebisaTvis • fulzemoTxovnarogorcqonebaze • fulisbrunvissiCqare • midrekilebalikvidurobisaken

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