Ezweni lethu, usizi zenzeka yonke indawo. Enye yezindlela ezibaluleke kakhulu - kuba omunye kwezomnotho. Uma kwenzeka ezweni encane, kuba kancane obonakalayo. Kodwa bomnotho e-US, i-EU ne China kungathinta yonke le mbulunga. Futhi akumangalisi - ngoba 3/5 ngamunye lomnotfo bungobabo bonke umkhiqizo wezwe okwedlulele yasekhaya. Kodwa uma kunomkhuba ezimbi ke kufanele ngandlela-thile ukubhekana nazo. E-US, lisebenzisa ubuhlungu ambalwa. I Fed unesibopho isimemezelo futhi ukubamba le ndlela. Asifundeni ukuthi kuhlanganisa lolu hlelo isetjenziswa futhi yiziphi yalokho okungase kulandele.
Kuyini wuhlelo ubuhlungu ambalwa?
Ngakho ngokuthi komgomo wokuboleka amabhange ngezimali, okuyinto esetshenziswa amabhange amakhulu ukwandisa supply imali ngenxa ukukhula reserves kwezikhungo ukuhweba ngemali. Kunezinhlobo ezintathu futhi izinhlobo ezimbili izinhlelo. ubuhlungu quantitative kulezi zimo zihlukile endleleni futhi isihloko okuqhubekayo ithonya. Ngakho-ke, kukhona umehluko okukhulu futhi aqinisekise ukuthi imigomo. Uma sikhuluma izinhlobo izinhlelo, zingabantu nemphambosi yekwentiwa. Mayelana izinhlobo kungashiwo ukuthi, zikhona ezintathu zazo zibizwa ngokuthi QE 1, QE QE 2 nenkulumo 3. Ase ngazo ngokuningiliziwe.
uhlobo yokwenziwa
Ngakho ngokuthi komgomo wokuboleka amabhange ngezimali, lapho ukubhekana nezinkinga, amabhange amakhulu run by ezihlukahlukene izinhlelo okuhloswe ngazo okwandisa zezimali uhlelo lwezimali. Lisho ukuthini igama elithi zalolu hlobo? Kulokhu, lo izikhungo zezimali usungula ilungelo zisebenze Central Bank nezicelo ukwengeza imali ku-akhawunti yakho ukuze enane izibambiso ahlukahlukene, lokukhulunywa ngako kulendzaba isenzo njengoba izibambiso. Nakuba okuqalwe zonke kulesi sikhungo enkabeni ukuthatha ingxenye kuzo zisetshenziswa izinhlangano kuphela ezihlukahlukene yangasese.
uhlobo asebenzayo
Ngakho umgomo lapho inkokhelo yenziwa esiphuthumayo isimo uthenge kanye / noma izibambiso okuyingozi. Kulokhu, lo mshini nje ngokungeza imali kwi-akhawunti. lolu hlobo lokuthenga kuholela yokuthi kwandisa usayizi ibhalansi, esesikhundleni ibhange elikhulu nohlobo. Kwandisa inani imithombo supply imali. Njengoba uhlelo ibhonasi wanezela, amabhange amakhulu Futhi sinelungelo ukusula inqubo ukulawula ekushintsheni usayizi mass yemali. Umkhawulo kuphela enza nekusetjentiswa kwetinhlelo yalolu hlobo - kuyisifiso, ikhono kanye nomthamo Uhulumeni maqondana nokuvimbela ukulahlekelwa ezingaba khona.
Uhlobo lokuqala ubuhlungu ambalwa
Ukuze notation yakhe esifushanisiwe QE 1. Injongo lezi zenzo - ukulondoloza izinkampane ezinkulu, amabhange, izinkampani ezizimele. Sasebenzisa ngukuhlengwa kokungokwakhe izikweletu ukuthi bakhubazekile. Phakathi imisebenzi uhlelo Federal Reserve System of the USA yathengwa mortgage nezinye izibopho ngemali kumnandi kithi - ukuze 1.7 izindodla zezimali. Yena umkhankaso it in November 2008 ngesikhathi elibi nenqwaba sezomnotho esimanzonzo emhlabeni. Over - ngo-2009 Njengoba kuboniswa imiphumela esisebenzayo, waba "zokwelapha" umphumela, futhi ngokushesha ngemva ukumisa yi yayo lincishisiwe. Ngakho-ke, uhlelo ubuhlungu ambalwa, le Fed kwakuye kwaqhubeka kwalokho. Ngesikhathi esifanayo sathula izinguquko ezithile.
Eyesibili uhlobo ubuhlungu ambalwa
Ngaye, i-QE isiqu 2. yethulwa kwamenyezelwa: 2 Novemba 2010. Kwakuthinta bazitshela ukuthi ngabe ukugxila Treasury izibopho. Bathenga $ 600 bhiliyoni - inqubo lwathatha izinyanga 8. Futhi iphoqa Federal Reserve System owawuse reinvestment ngesibopho yohlobo yokuqala hlelo. Isamba kulokhu zaba isigidi sezigidi 300 aseMelika. Uhlelo yaphela ngo-June 2011. Injongo eyinhloko yale komgomo wokuboleka amabhange ngezimali kwaba kuzuzwe umphumela lapho umnotho uzolahlekelwa ukuzwela loans eshibhile futhi zezimali anda.
Uhlobo lwesithathu ubuhlungu ambalwa
Lolu hlelo wethulwa Septhemba 13, 2012 futhi wathola isiqu QE 3. yanyanga zonke ahlengwe Treasury nakwa mortgage izibopho - kuwufanele $ 45, kanye no- $ 40 bhiliyoni. Ekuqaleni kwakuhlelwe ukuthi uhlelo ezosebenza amakota eziningana. Kodwa yena kwathiwa esivaliwe Okthoba 29, 2014 kuphela. Ilungiselelo iye yasetshenziswa njengomuthi umbandela main komnotho US.
Lokho kuyinto wuhlelo ubuhlungu ambalwa, futhi yiziphi izimo ezazizolandela isimo art?
US Fed kukhuphuke ngokunikwa igama elihle. Kodwa lokho yasisiza ke? Lapho kufika imali ukuthenga izibopho? Ungacela imibuzo eminingi ukuthi kumele iphendulwe. Eqinisweni, inqubo ebizwa ngokuthi ubuhlungu ambalwa, eyaziwa ngokuthi umphakathi udaba lwemali. Kodwa lokhu kubhekwa ngochwepheshe abaningi njengoba ukuhlukunyezwa bezakhamuzi amandla benawo. Ngakho uma iziteshi ukuchichima kuthiwa esingatha nemali eningi, kuholela nokwanda inflation kwamanani. Kungukuphula yakhoibrium macroeconomic, wabhubhisa yisifiso kwandiswe umkhiqizo. Nokho, ibhekwa njengoba, ungakhuluma mayelana ezikhulayo nokwehlukana komphakathi kanye nempahla umphakathi. Kungatholakala kubhalwe kunoma iyiphi amabhuku okufunda ngesikhathi ezomnotho. Abafundi abafunda izici kwezomnotho zokuphila yomphakathi, kufanele ukulufunda etafuleni ukubuyabuyelela. Futhi isici ukuthi uhlelo olawulwa isimo.
Ngakho, emazweni amaningi uwuhulumeni enquma lapho ukuze ujike emshinini futhi ukwandisa supply imali, okuyinto ejikelezayo. E-United States ngo-December 1913 (iminyaka ie phezu 100 edlule) ukulawula umshini yanikwa kwekulu bebhange yangasese. Ukuhlanganiswa kwabo ibizwa ngokuthi i-Federal Reserve System. Kukholakala ukuthi abahwebi yangasese uzokwazi kangcono ukubhekana nakho. Futhi manje, uhlelo ubuhlungu ambalwa e-US ilawulwa kubo, njengoba uhulumeni kuboniswane kuphela. Ekuqaleni, kubaphathi bebhange ungahlukumezi amathuba. Kodwa phakathi nokuwa kwezomnotho okukhulu kwakuthiwe waphasisa umthetho ku ekuthathweni ayimpoqo of amatshe ayigugu, ngoba yonke imali kwadingeka ukuba kuhlinzekwe. Kodwa sibonga ukuqedwa ukubopha ndawonye igolide nge uhlelo Bretton Woods ku 70-yalolucwaningo kwekhulu elidlule, isimo isibe esidabukisayo.
isimo yamanje
Kusukela ngaleso sikhathi, inani lemali (nakuba futhi usheshe ngangokunokwenzeka kulezi zinhlelo) lenyuke. Khumbula lokho okwabhalwa ngaphambili. Enye yezinhloso sesibili salolu hlelo kwaba ukwenza umnotho kangangokuthi akazwelani ukwanda supply imali. Futhi ngempela ngaphandle. ubuhlungu quantitative e-US unemiphumela ayo, ngoba, naphezu nokwanda okuphawulekayo supply imali, yi okuningi eziphathekayo ezizosiza izwe lonke kulandele. Kumele kukhunjulwe ukuthi sciences kwezomnotho Kunconywa ukuba ngokuyinhloko sebenzisa senzalo ithuluzi ukwenza imali ezishibhile noma ezibizayo. Kodwa ngenxa eside mass yemali kugcinwa at 0-0.25%. Ngakho, imali - kolwandle, kodwa musa ukusebenza kanzima ukuthuthukisa ukukhiqizwa futhi ukwanelisa isidingo abantu sika okuthile. Okungukuthi, lenzalo thuluzi ayisekho ukwenza umsebenzi walo. kahle Imali emakethe lehla, futhi kwakheka zokuphatha ithimba indlela mayelana ukukhiqizwa nokusakazwa Kwezimiso imali yamaphepha. Kulokhu, zonke lokhu kungenzeka ngenxa yokuthi umgomo "ubuhlungu ambalwa".
Imiphumela kokungenela
On Nokho kokuthola nomphumela omuhle eside,. Inqubomgomo ye ubuhlungu ambalwa inikeza imiphumela ye- isikhathi esiyizinyanga 3-6. Ukugcizelela okukhulu kubekwa omuhle nemiphumela yesikhathi esifushane. Ngakho, njengoba kukhulunywa enjalo ukwandisa solvency sabantu, buthakathaka lwemali (okuyoholela izinzuzo abathuthi futhi ukwehla izikweletu) kanye nezinye izindawo eziningana lapho izinzuzo. Kodwa kufanele kukhunjulwe ukuthi inqubomgomo ubuhlungu ambalwa, US ziyoba nemiphumela wesikhashana nje komnotho omkhulu. Ngaphezu kwalokho, kuhambisana ukusikeka isabelomali imali nangaphezulu izintela ezingeni (isibonelo, uqede isikhathi sokusebenza intela nendlela yokukhuthaza yethulwa ngo 2008 ngesikhathi kunezinkinga, futhi bengazange kuvuselelwe). Futhi, uma kukhona inkulumo mayelana ubuhlungu ambalwa futhi Wangichazela ukuthi lena inqubomgomo ngokuwina, kumelwe sikhumbule ukuthi kukhona losers e amaqiniso ezakha kakhulu ezweni lanamuhla. Ngakho-ke, amanye amazwe bathathe izinqumo ezithile ukuze alulame US ingekho ngezindleko zabo. Futhi kulokhu, ubuhlungu ambalwa ulahlekelwa ekulenzeni libe namandla.
Ngakho, ukusho ukuthi wonke omuhle futhi lwemali liyasondela ikusasa eliqhakazile, akudingekile. Ngaphezu kwalokho, ukusetshenziswa le insimbi kungenzeka uma kusekhona bazimisele ukuthenga imali. Futhi kwenzekani uma isiphelile? Kuzoba akekho omunye noma uyofuna ukuthenga kubo? Kulokhu, singaxoxa okungenani mayelana nokukhuphuka kwamanani ezimpahla abalulekile - kwi esibucayi, okuyinto ungakabi ngimbone emhlabeni wethu.