Content-Type: multipart/related; start=; boundary=----------EEeuWOXwMfej0n0GDHVpKJ Content-Location: http://es.wikipedia.org/wiki/Multiplicador_bancario Subject: =?utf-8?Q?Multiplicador=20bancario=20-=20Wikipedia,=20la=20enciclopedia=20libre?= MIME-Version: 1.0 ------------EEeuWOXwMfej0n0GDHVpKJ Content-Disposition: inline; filename=Multiplicador_bancario.htm Content-Type: text/html; charset=UTF-8; name=Multiplicador_bancario.htm Content-ID: Content-Location: http://es.wikipedia.org/wiki/Multiplicador_bancario Content-Transfer-Encoding: Quoted-Printable Multiplicador bancario - Wikipedia, la enciclopedia libre=

Multiplicador bancario=

De Wikipedia, la enciclopedia libre

El multiplicador bancario o multiplicador monetario es = el mecanismo por el cual la creaci=C3=B3n mediante reserva = fraccionaria de dep=C3=B3sitos bancarios ex nihilo lleva a un aumento de la masa monetar= ia.<= span class=3D"corchete-llamada">[1] [2] [3]


Contenido

[editar] Funcionamiento= del multiplicador

Al recibir un dep=C3=B3sito de 100, un banco con un encaje (o coefici= ente de caja) del 10%, puede prestar 90 a la vez que mantiene la disponi= bilidad inmediata de 100 para el depositario (cuentas a la vista). Si el= prestatario a su vez deposita sus 90 en el mismo banco, este puede volv= er a prestar otros 81 (manteniendo el 10% de reserva)... este proceso se= repite y extiende a lo largo del sistema bancario.

[editar] F=C3=B3rmula del mul= tiplicador

El multiplicador, m, es la inversa del coeficiente de encaje, = R:

3D"m=3D\frac1R"

Ejemplo: R=3D 10%, m=3D (1/0.1) =3D 10. Un incremento de la base monetaria en 10= 0=E2=82=AC puede, en el l=C3=ADmite, tras pasar por un sistema de banca = de reserva fraccional con un coeficiente de encaje del 10% llevar a un i= ncremento de la masa monetaria en 1000=E2=82=AC.

[editar] Matem=C3= =A1ticas formalizaci=C3=B3n

Deje que la base monetaria se normaliza a la unidad. Definir el coefi= ciente de reservas legales, 3D"\alpha, la raz=C3=B3n de las reservas libres, 3D"\beta, la pr= oporci=C3=B3n de drenaje de dinero con respecto a los dep=C3=B3sitos, ; s= uponer que la demanda de fondos es ilimitado; entonces el l=C3=ADmite su= perior te=C3=B3rico para los dep=C3=B3sitos es definido por esta serie g= eom=C3=A9trica:

3D"Depositos

.

An=C3=A1logamente, el l=C3=ADmite superior te=C3=B3rico para la base = monetaria retenida del p=C3=BAblico es definido por esta serie geom=C3=A9= trica:

3D"BMP

y el l=C3=ADmite superior te=C3=B3rico para el total de pr=C3=A9stamo= s prestados en el mercado es definido por esta serie geom=C3=A9trica:

3D"Prestamos

Sumando las dos cantidades, el multiplicador monetario te=C3=B3rico s= e define como

3D"m


El proceso descrito anteriormente por la serie geom=C3=A9trica se puede = representar en la siguiente tabla, donde

  • pr=C3=A9stamos en la fase 3D"k\;" est=C3=A1n en funci=C3=B3n de los dep=C3=B3sitos en la fase preceden= te: 3D"L_{k}
  • la base monetaria retenida del p=C3=BAblico en la fase 3D"k\;" es una funci=C3=B3n de los dep=C3=B3sit= os en la fase precedente: 3D"BMP_{k}
  • dep=C3=B3sitos en la fase 3D"k\;" que son la diferencia entre los pr=C3=A9stamos y la base monetaria r= etenida del p=C3=BAblico en relaci=C3=B3n a la misma fase: 3D"D_{k}


Proceso de multiplicaci=C3=B3n monetaria
3D"n\;" Dep=C3=B3sitos Prestamos Base monetaria retenida del p=C3=BAblico
3D"n 3D"D_{0} - -
3D"n 3D"D_{1} 3D"L_{1} 3D"BMP_{1}
3D"n 3D"D_{2} 3D"L_{2}<= /td> 3D"BMP_{2}
3D"n 3D"D_{3} 3D"L_{3} 3D"BMP_{3}
=E2=80=A6 =E2=80=A6 =E2=80=A6 =E2=80=A6
3D"n 3D"D_{k} 3D"L_{k} 3D"BMP_{k}
=E2=80=A6 =E2=80=A6 =E2=80=A6 =E2=80=A6
3D"n 3D"D_{\infty} 3D"L_{\infty} 3D"BMP_{\infty}





Dep=C3=B3sitos Totales: Pr=C3=A9stamos totales: Totales base monetaria retenida del p=C3=BAblico= :

3D"D 3D"L 3D"BMP

[editar] Citas y referencias

  1. =E2=86=91 por ejemplo= , Murray Rot= hbard: "The Mystery of Banking" pp 134-= 139
  2. =E2=86=91 Milton Friedman y D= . Meiselman : "The Relative Stability of Monetary Velocity and the = Investment Multiplier in the United States, 1898-1958", (1963),  in= Stabilization Policies.
  3. =E2=86=91 C.H. Douglas: Money an= d the Price System, resumido (en ingl=C3=A9s) en Richard C. Cook en:= C.H. Douglas: Pioneer of Monetary Reform

[editar] V=C3=A9ase tambi=C3=A9n

[editar] Enlaces externos

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