Kutheni u Rhu lumente ufuna ukuba Ukulindele imveliso
Uninzi lweebhanki eziphambili zisebenzisa iinjongo zokunyuka kwamaxabiso e-2.0 ekhulwini. Oku kusebenza kwizinga eliphezulu lokunyuka kwamaxabiso . Kuthatha umphumo wexabiso lokutya namandla.
La ma xabiso ayenzileyo ngenyanga-nyanga ngelixa izixhobo zomgaqo-nkqubo weemali zisebenza ngokukhawuleza. Kuthatha inyanga ezintandathu ukuya kwezilishumi elinesibhozo phambi kokuba utshintsho lomlinganiselo wentlalo luchaphazele uqoqosho.
I- Federal Reserve isebenzisa isicatshulwa sexabiso leNkcitho yokuThengiswa kweNdleko ukulinganisa ukunyuka kwamaxabiso. Ngaphambi kukaJanuwari 2012 wasebenzisa iNtengiso yeeNtengo zabaThengi .
I-Fed iye ineenjongo zokukhula koqoqosho kunye nezinga lokungasebenzi. Ixabiso lokukhula kweGDP livela kuma-2-3 ekhulwini. Izinga lokungasebenzi livela kwi-4.7 ekhulwini-5.8 ekhulwini.
Imisebenzi yokujolisa kweMiphumo
Kutheni i-Fed okanye nayiphina ibhanki ephakathi ifuna ukunyuka kwamaxabiso ? Ucinga ukuba uqoqosho luya kwenza ngcono ngaphandle kokunyuka kwexabiso. Emva koko, ngubani ofuna amaxabiso aphezulu? Kodwa izinga lokunyuka kwamaxabiso eliphantsi kwaye elilawulwayo likhetha ukuchasana . Yilapho ixabiso liwela. Unokucinga ukuba loo nto yayiyinto enhle. Kodwa abantu baya kunqanda ukuthenga amakhaya, iimoto kunye nezinye izinto ezinkulu zetikiti ukuba amaxabiso aya kuba ngaphantsi.
Ubunzima ekudaleni imozulu yezoqoqosho ukwenzela ukudala amanani akhulayo. Yilapho ukujoliswa kwexabiso lokungena kwamanani kufikeleleka. Urhulumente wezepolisi uphuhlisa ukukhula koqoqosho ngokufaka utywala , i-credit kunye nemisebenzi kwizoqoqosho. Ukuba kukho ukukhula okwaneleyo, kufuneka ufune ngaphandle kokunikezelwa. Xa amaxabiso aphakama, oko kuphuma kwamanani.
Kukho iindlela ezimbini zokudala ukukhula. I-Fed iyenzeka ngomgaqo-mali wokunyuselwa kwemali ukwenzela ukunciphisa amaxabiso omyinge . ICongress yenzayo ngomgaqo-nkqubo wezemali . Oku kunciphisa irhafu okanye kwandisa imali. Ukuba bekufuneka ukhethe phakathi kwexabiso lokunyuka kwamaxabiso kunye nokuchithwa kwexabiso, ukunyuka kwamaxabiso okuncinci kukuhle .
Ingozi yokuchasana iboniswa yi-market market collapse ngo-2006. Njengoko amaxabiso awela, abanini bezindlu balahlekelwa ubulungisa kunye nekhaya ngokwalo. Abathengi abatsha abanokuqeshisa endaweni yoko. Babesaba ukuba baya kulahlekelwa yimali kwi-home purchase. Wonke umntu, kubandakanywa abatyalo-mali, ulinde ukuthengisa imarike yokuhlalisa.
Njengoko le nto yenzeka, ukungabikho kwemfuno kwanyanzelisa ixabiso lentengo kwizindlu. Abathengi abazange bathembele kwikarhwebo yezindlu baze bazi ukuba amaxabiso aya kuphakama. Yiloo nto nayiphi na enye imarike apho i-deflation ibambe khona.
Kutheni i-Implation Targeting Works
Ukujoliswa kwexabiso lentengo kusebenza ngoqeqesho lwabathengi ukulindela amaxabiso aphezulu ezayo. Uqoqosho olusempilweni lungcono xa becinga ukuba amaxabiso aya kuvuka. Ngoba? Xa abathengi balindele ukuba amanani aphakame kwixesha elizayo, baya kuthenga ngakumbi ngoku ngelixa amaxabiso asezantsi. Oko "kuthengisisa ngakumbi ngoku" ifilosofi ivuselela imfuneko efunekayo ekuqhubeni ukukhula koqoqosho.
Ukujoliswa kwexabiso lentengo yi-antidote ye- stop-go policy policy yexesha elidlulileyo . Ngowe-1973, ukunyuka kwamaxabiso kwaphuma kwi-3.9% ukuya kwi-9.6 ekhulwini. I-Fed iphendule ngokuphakamisa izinga lokuhlawula imali ukusuka kuma-5.75 amanqaku ukuya kuma-13 amaphupha ngoJulayi 1974. Kodwa ke izapolitiki zenza i-interest interest rates. NgoJanuwari 1975, i-Fed yayinciphise amaxabiso ukuya kuma-7.5. Ixabiso lemali libuye, lifikelela kumadijithi amabini ngo-Apreli 1975.
Ngokutshintsha amaxabiso omdla kakhulu, i-Fed idideke i-values-setters malunga nomgaqo-nkqubo wayo. Amashishini ayesaba ukunciphisa amaxabiso xa isantya somyinge sehla. Babengaqinisekanga ukuba iFed ayiyi kuguquka kwaye iphakamisa amaxabiso kwakhona.
USihlalo weState Reserve uBen Bernanke uqalise ukujoliswa kwexabiso lentengo e-United States. Amava ka-1970 afundisa uBernanke ukuba ukulawula ukulindela kwexabiso lentengo kubaluleke kakhulu ekulawuleni ukunyuka kwamaxabiso ngokwawo.
Ivumela abantu bazi ukuba i-Fed iya kuqhubeka nenqubomgomo yemali yokwandisa kuze kube yilapho ukunyuka kwamaxabiso kufinyelela ku-2 ekhulwini.
Njengoko amanani aphakama, abantu bathenga ngakumbi ngoku ngenxa yokuba bafuna ukuphepha amanani aphakamileyo kwimveliso yabathengi. Ukutyalo-mali, bathenga ngoku ngenxa yokuba banethemba lokuba uza kubanika i-return higher when they sell later. Ukuba ukujoliswa kwexabiso lentengo lwenziwa ngokuchanekileyo, amanani aphakama ngokwaneleyo ukukhuthaza abantu ukuba bathenge ngokukhawuleza kunokuba bahambe. Ukujoliswa kwexabiso lentengo kusebenza ngenxa yokuba ivuselela imfuno ngokwaneleyo.
Indlela yokuHlalwa kweMiphumo eqala ngayo
Iibhanki eziphambili eJamani naseSwitzerland zisebenzise kuqala ukujoliswa kwexabiso lentengo ekupheleni kwee-1970. Bekufuneka ukuba emva kweNkqubo yeMali yeBretton Woods yawa. Intengo yeDola yama-US yawa, yathumela ezinye iirhafu ngaphezulu. IJamani isoloko ilumkelekile ukuphepha ukuphindaphindwa kwe- hyperinflation eye yaba nama-1920. Impumelelo yayo yabangela amanye amazwe ukuba asebenzise ukujoliswa kwexabiso lentengo.
Ngama-1990, iNew Zealand, eCanada, eNgilani, eSweden nase-Australia yamukela umgaqo-nkqubo. Ukususela ngoko, ezininzi iimali zentengiso ephumayo ziye zatshintshela ekujoliseni kwexabiso lentengo: iBrazil, iChile, iRiphabhliki yaseCzech, iHungary, i-Israel, i-Korea, iMexico , iPoland, i-Philippines, i-Afrika kunye neThailand. Akukho mntu owamkeleyo uye wanikela. Lo ngumyalelo wokuphumelela kwayo. (Umthombo: Iingxelo zikaBen Bernanke ngelixa iRhuluneli yeBhodi yeBhodi yeSigqeba, "I-Perspective on Inflation Targeting," Matshi 25, 2003.)