7/26/2019 POLITICA MONETARIA Y ECONOMIA REAL

http://slidepdf.com/reader/full/politica-monetaria-y-economia-real 1/4

 

]JBÌ[NGI LJHD[I_NI

^ DGJHJLÌI _DIB  

Ujr`nhe ]ipdr 4 kd iornb kd ?=94 

7/26/2019 POLITICA MONETARIA Y ECONOMIA REAL

http://slidepdf.com/reader/full/politica-monetaria-y-economia-real 2/4

 

?

]JBN[NGI LJHD[I_NI

^ DGJHJLNI _DIB

9.  Bi pdrgdpgn÷h pjpubir tndhkd i gjhsnkdrir qud bi pjbìtngi

ljhdtirni kd bjs oihgjs gdhtribds tndhd dfdgtjs knrdgtjs

sjord bi dgjhjlìi rdib, dfdgtjs gisn ldgéhngjs sjord db

grîkntj, bi kdlihki, bi prjkuggn÷h y db dlpbdj. Wnh

dloirej, uhj kd bjs rdtjs fuhkildhtibds kd bi pjbìtngi

ljhdtirni ds prdgnsildhtd db prjobdli kd bi nhdfngndhgni

kd bjs ldgihnsljs kd trihslnsn÷h kd bi lnsli.

?. 

Dstjs ldgihnsljs kd trihslnsn÷h -fuhkildhtibldhtdbjs tnpjs kd nhtdrîs y bi dlnsn÷h kd ljhdki- ifdgtih

nhkukiobdldhtd i bi jfdrti y bi kdlihki kd knhdrj

ebjoib kd bi dgjhjlìi. ]drj s÷bj kd fjrli nhknrdgti.

Thi rdkuggn÷h kd bjs tnpjs kd nhtdrîs kdb oihgj gdhtrib

s÷bj tndhd rdsubtikjs sjord bi kdlihki ebjoib sn tndhd

gjlj gjhsdgudhgni uhi rdkuggn÷h dfdgtnvi kd bjs tnpjs

kd nhtdrîs kd bjs grîkntjs jtjreikjs pjr bjs oihgjs y,

gjlj gjhsdgudhgni, uhi ilpbnign÷h kd bjs grîkntjsoihgirnjs. Dbbj iuldhtirìi bi lisi ljhdtirni ebjoib y bi

kdlihki ebjoib.

I su vdz, uhi nhydggn÷h kd bnqunkdz dh db snstdli oihgirnj

s÷bj ifdgti ib gjhcuhtj kd bi jfdrti ljhdtirni sn sd

trisbiki i uh iuldhtj kdb grîkntj oihgirnj.

7.  Isì puds, i dfdgtjs kd bi trihslnsn÷h kd bi pjbìtngi

ljhdtirni i bi dgjhjlìi rdib, hjs dhgjhtriljs gjh kjs

tnpjs kd prjobdlis3

i) pjr uh bikj, iuhqud bi trihslnsn÷h i bi

dgjhjlìi rdib sd prjkuzgi, bjs odhdfngnjs y

pdrcungnjs kd kngai trihslnsn÷h ifdgtih kd fjrli

kdsneuib i bjs knstnhtjs iedhtds dgjh÷lngjs,

knstjrsnjhihkj isì bi dfngndhtd isnehign÷h kd

rdgursjs dh bi dgjhjlìi.

o) pjr jtrj bikj, bjs dsfudrzjs kd pjbìtngi

7/26/2019 POLITICA MONETARIA Y ECONOMIA REAL

http://slidepdf.com/reader/full/politica-monetaria-y-economia-real 3/4

 

7

]JBN[NGI LJHD[I_NI

^ DGJHJLNI _DIB

ljhdtirni hj rdpdrgutdh kd fjrli knrdgti sjordbi dgjhjlìi rdib y, gisn sndlprd, uhi pirtd

sustihgnib kd bjs lnsljs sd kdstnhi i jtris

fnhibnkikds

;.  Gjlj pjkdljs vdr, ilojs prjobdlis sjh gjhsdgudhgni

kdb girégtdr "nhknrdgtj" kd bjs ldgihnsljs kd

trihslnsn÷h kd bi pjbìtngi ljhdtirni.

Bi dxpihsn÷h ljhdtirni hj sd prjkugd kd fjrli knrdgti

dhtrd bjs oihgjs gdhtribds y db gjhcuhtj kd bi dgjhjlìi

snhj qud, aiontuibldhtd, dsti trihslnsn÷h sd dfdgtói i

trivîs kdb snstdli oihgirnj.

4.  Guihkj db oihgj gdhtrib rdkugd sus tnpjs kd nhtdrîs, j

ondh snlpbdldhtd bjs lihtndhd -gjlj ds aiontuib-

sustihgnibldhtd pjr kdoicj kd bjs tnpjs kd ldrgikj,

iuhqud db dfdgtj kd bjs lnsljs ibgihgd fnhibldhtd ib

gjhcuhtj kd bi dgjhjlìi, ds dvnkdhtd qud bjs rdgdptjrdsknrdgtjs kd bi fnhihgnign÷h kdb oihgj gdhtrib rdsubtih

sdhsnobdldhtd lés odhdfngnikjs. Ibej snlnbir pudkd

kdgnrsd kd bi dlnsn÷h kd ljhdki i trivîs kd fnhihgnign÷h

prnvnbdeniki.

6.  Dh kdfnhntnvi, db snstdli oihgirnj -y, dh gjhgrdtj, bjs

oihgjs gjh iggdsj i bi fnhihgnign÷h kdb oihgj gdhtrib-

rdsubtih dspdgnibldhtd odhdfngnikjs kdhtrj kd bis

pjbìtngis kd dxpihsn÷h ljhdtirni, i trivîs kd uhldgihnslj qud gjhstntuyd kd adgaj uhi suovdhgn÷h

pdrlihdhtd kd bjs lnsljs.

5.  Db sdeuhkj prjobdli gjhsnstd dh qud db snstdli oihgirnj

hj s÷bj ds db rdgdptjr prnvnbdenikj kd bi dxpihsn÷h

ljhdtirni snhj qud, gisn sndlprd, rdgnod bi fnhihgnign÷h

kd bjs oihgjs gdhtribds snh gjhkngnjhds. Gjlj

gjhsdgudhgni kd dbbj, ds aiontuib qud uhi pirtd

sustihgnib kd bi fnhihgnign÷h rdgnonki hj bbdeudfnhibldhtd i bi dgjhjlìi rdib. Bis pjsnonbnkikds sjh knvdrsis3 qud bjs

oihgjs nhvndrtih dstjs rdgursjs fudri kdb tdrrntjrnj, qud bjs nhvndrtih

7/26/2019 POLITICA MONETARIA Y ECONOMIA REAL

http://slidepdf.com/reader/full/politica-monetaria-y-economia-real 4/4

 

;

]JBN[NGI LJHD[I_NI

^ DGJHJLNI _DIB

dh dgjhjlìi dspdgubitnvi j qud -dh bueir kd nhvdrtnrbjs-bjs kdstnhdh snlpbdldhtd i ldcjrir sus ritnjs kd

bnqunkdz.

1.  Dstd prjobdli sd ierivi sustihgnibldhtd dh îpjgis kd

grnsns, dh bis qud knslnhuydh sdhsnobdldhtd bis

pjsnonbnkikds kd gjbjgign÷h kd grîkntjs dh gjhkngnjhds

itrigtnvis piri db snstdli oihgirnj y dh bis qud bis

knfngubtikds nhtdrhis kd lugajs oihgjs ikqundrdh uhi

erivdkik rdbdvihtd. Dh dstjs gisjs, bjs oihgjs sndhtdhuhi nhdvntiobd hdgdsnkik kd utnbnzir prjpjrgnjhds

sustihgnibds kd bjs fjhkjs rdgnonkjs kd bjs oihgjs

gdhtribds piri fnhibnkikds knstnhtis kd bi nhvdrsn÷h dh bi

dgjhjlìi prjkugtnvi. Gjlj gjhsdgudhgni, db kdspnbfirrj

qud supjhdh dh dstis gnrguhstihgnis bis pjbìtngis

ljhdtirnis lib knrnenkis ds tilonîh nhdvntiobd y kd uhis

knldhsnjhds kdsprjpjrgnjhikis, dspdgnibldhtd dh dstjs

gjhtdxtjs kd grnsns.

Is i Ujr`nhe ]ipdr, nt kjds hjt rdfbdgt ihy nhstntutnjhib pjsntnjh jr jpnhnjh hdntadr jf D@IN

Gdhtdr, hjr jf nts spjhsjrs jr suppjrtnhe dhtntnds.

D@IN Gdhtdr sdd`s tj kj ousnhdss wnta gjlpihnds jr ejvdrhldhts gjvdrdk nh nts rdpjrts.

_dikdrs sajubk od iwird tait wd liy aivd i gjhfbngt jf nhtdrdst tait gjubk iffdgt tad

jocdgtnvnty jf tans rdpjrt. Nhvdstjrs sajubk gjhsnkdr tans rdpjrt is jhby i snhebd figtjr nh

li`nhe tadnr nhvdstldht kdgnsnjh. 

EI_INI NHHJVI[NJH GDH[D_, EJN_T 9I LJHK_IEJH

[DB3 >;7?4=9=; BD@DN[NJ 6545=9514 KT_IHEJ 61119>4?=D-LINB3 nhfjMd`ingdhtdr.du

www.d`ingdhtdr.du sgrnok.gjl/D@INGdhtdr