{"id":25453,"date":"2023-12-07T01:33:07","date_gmt":"2023-12-07T01:33:07","guid":{"rendered":"https:\/\/masterskills.org\/blog\/chinh-sach-tien-te-thich-ung-accommodative-monetary-policy-la-gi.html"},"modified":"2023-12-22T10:26:44","modified_gmt":"2023-12-22T03:26:44","slug":"chinh-sach-tien-te-thich-ung-accommodative-monetary-policy-la-gi","status":"publish","type":"post","link":"https:\/\/masterskills.org\/blog\/chinh-sach-tien-te-thich-ung-accommodative-monetary-policy-la-gi.html","title":{"rendered":"Ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 th\u00edch \u1ee9ng (Accommodative Monetary Policy) l\u00e0 g\u00ec?"},"content":{"rendered":"
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H\u00ecnh minh h\u1ecda<\/i><\/p>\n<\/div>\n<\/div>\n

Ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 th\u00edch \u1ee9ng<\/font><\/h2>\n

Kh\u00e1i ni\u1ec7m\u00a0<\/b><\/p>\n

Ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 th\u00edch \u1ee9ng<\/b> trong ti\u1ebfng Anh l\u00e0\u00a0Accommodative Monetary Policy.<\/b><\/p>\n

Ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7\u00a0th\u00edch \u1ee9ng\u00a0\u0111\u01b0\u1ee3c ti\u1ebfn h\u00e0nh khi ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng c\u1ed1 g\u1eafng t\u0103ng t\u1ed5ng cung ti\u1ec1n \u0111\u1ec3 th\u00fac \u0111\u1ea9y n\u1ec1n kinh t\u1ebf khi n\u1ec1n kinh t\u1ebf t\u0103ng tr\u01b0\u1edfng ch\u1eadm l\u1ea1i (theo s\u1ed1 li\u1ec7u GDP). Ch\u00ednh s\u00e1ch n\u00e0y \u0111\u01b0\u1ee3c \u00e1p d\u1ee5ng \u0111\u1ec3 t\u0103ng cung ti\u1ec1n l\u00ean cho ph\u00f9 h\u1ee3p v\u1edbi thu nh\u1eadp qu\u1ed1c d\u00e2n v\u00e0 nhu c\u1ea7u v\u1ec1 ti\u1ec1n.\u00a0<\/p>\n

Th\u1ef1c hi\u1ec7n ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 th\u00edch \u1ee9ng<\/font><\/h3>\n

Khi n\u1ec1n kinh t\u1ebf ch\u1eadm l\u1ea1i, ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng – v\u00ed d\u1ee5 nh\u01b0 C\u1ee5c d\u1ef1 tr\u1eef li\u00ean bang (Fed) c\u00f3 th\u1ec3 th\u1ef1c hi\u1ec7n ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 th\u00edch \u1ee9ng \u0111\u1ec3 k\u00edch th\u00edch n\u1ec1n kinh t\u1ebf.\u00a0<\/p>\n

Fed th\u1ef1c hi\u1ec7n ch\u00ednh s\u00e1ch b\u1eb1ng ti\u1ec1n t\u1ec7 th\u00edch \u1ee9ng b\u1eb1ng c\u00e1ch li\u00ean t\u1ee5c \u0111i\u1ec1u ch\u1ec9nh gi\u1ea3m l\u00e3i su\u1ea5t qu\u0129 Li\u00ean bang khi\u1ebfn chi ph\u00ed vay r\u1ebb \u0111i, khuy\u1ebfn kh\u00edch ng\u01b0\u1eddi ti\u00eau d\u00f9ng v\u00e0 doanh nghi\u1ec7p chi ti\u00eau nhi\u1ec1u h\u01a1n.\u00a0<\/p>\n

Khi ng\u00e2n h\u00e0ng cho vay nhi\u1ec1u h\u01a1n, cung ti\u1ec1n trong n\u1ec1n kinh t\u1ebf t\u0103ng l\u00ean, d\u1eabn \u0111\u1ebfn chi ti\u00eau t\u0103ng. Khi doanh nghi\u1ec7p c\u00f3 th\u1ec3 d\u1ec5 d\u00e0ng vay ti\u1ec1n th\u00ec ch\u00fang s\u1ebd c\u00f3 nhi\u1ec1u ti\u1ec1n h\u01a1n \u0111\u1ec3 m\u1edf r\u1ed9ng ho\u1ea1t \u0111\u1ed9ng v\u00e0 thu\u00ea th\u00eam nh\u00e2n c\u00f4ng, l\u00e0m gi\u1ea3m t\u1ec9 l\u1ec7 th\u1ea5t nghi\u1ec7p.<\/p>\n

M\u1eb7t kh\u00e1c, ng\u01b0\u1eddi d\u00e2n v\u00e0 doanh nghi\u1ec7p c\u00f3 xu h\u01b0\u1edbng ti\u1ebft ki\u1ec7m \u00edt h\u01a1n khi n\u1ec1n kinh t\u1ebf \u0111\u01b0\u1ee3c k\u00edch th\u00edch do l\u00e3i su\u1ea5t ti\u1ebft ki\u1ec7m th\u1ea5p. Thay v\u00e0o \u0111\u00f3, h\u1ecd s\u1ebd \u0111\u1ea7u t\u01b0 c\u00e1c kho\u1ea3n ti\u1ec1n d\u01b0 th\u1eeba v\u00e0o v\u00e0o th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n, \u0111\u1ea9y gi\u00e1 c\u1ed5 phi\u1ebfu l\u00ean cao.<\/p>\n

Trong khi ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 th\u00edch \u1ee9ng gi\u00fap t\u0103ng tr\u01b0\u1edfng kinh t\u1ebf trong trung h\u1ea1n, n\u00f3 c\u00f3 th\u1ec3 g\u00e2y ra t\u00e1c \u0111\u1ed9ng ti\u00eau c\u1ef1c trong d\u00e0i h\u1ea1n. N\u1ebfu cung ti\u1ec1n b\u1ecb n\u1edbi l\u1ecfng qu\u00e1 l\u00e2u, n\u1ec1n kinh t\u1ebf s\u1ebd c\u00f3 qu\u00e1 nhi\u1ec1u ti\u1ec1n v\u00e0 qu\u00e1 \u00edt h\u00e0ng h\u00f3a v\u00e0 d\u1ecbch v\u1ee5, d\u1eabn \u0111\u1ebfn l\u1ea1m ph\u00e1t.\u00a0<\/p>\n

\u0110\u1ec3 tr\u00e1nh l\u1ea1m ph\u00e1t, h\u1ea7u h\u1ebft c\u00e1c ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng s\u1ebd th\u1ef1c hi\u1ec7n xen k\u1ebd ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 th\u00edch \u1ee9ng v\u00e0 ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 th\u1eaft ch\u1eb7t ch\u1ebd v\u1edbi nh\u1eefng m\u1ee9c \u0111\u1ed9 kh\u00e1c nhau \u0111\u1ec3 khuy\u1ebfn kh\u00edch t\u0103ng tr\u01b0\u1edfng trong khi v\u1eabn ki\u1ec3m so\u00e1t \u0111\u01b0\u1ee3c l\u1ea1m ph\u00e1t.\u00a0<\/p>\n

Ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 th\u00edch \u1ee9ng trong th\u1ef1c t\u1ebf<\/b><\/p>\n

Fed \u0111\u00e3 \u00e1p d\u1ee5ng ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 th\u00edch \u1ee9ng trong giai \u0111o\u1ea1n cu\u1ed1i c\u1ee7a th\u1ecb tr\u01b0\u1eddng gi\u00e1 xu\u1ed1ng b\u1eaft \u0111\u1ea7u v\u00e0o cu\u1ed1i n\u0103m 2000. Khi n\u1ec1n kinh t\u1ebf cu\u1ed1i c\u00f9ng c\u00f3 d\u1ea5u hi\u1ec7u h\u1ed3i ph\u1ee5c, Fed \u0111\u00e3 n\u1edbi l\u1ecfng c\u00e1c bi\u1ec7n ph\u00e1p h\u1ed7 tr\u1ee3, cu\u1ed1i c\u00f9ng chuy\u1ec3n sang ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 th\u1eaft ch\u1eb7t v\u00e0o n\u0103m 2003.<\/p>\n

Ngo\u00e0i ra, \u0111\u1ec3 v\u01b0\u1ee3t qua suy tho\u00e1i sau cu\u1ed9c kh\u1ee7ng ho\u1ea3ng t\u00edn d\u1ee5ng n\u0103m 2008, Fed \u0111\u00e3 th\u1ef1c hi\u1ec7n m\u1ed9t ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 th\u00edch \u1ee9ng v\u00e0 l\u00e3i su\u1ea5t \u0111\u00e3 \u0111\u01b0\u1ee3c c\u1eaft gi\u1ea3m xu\u1ed1ng c\u00f2n 0,5%.<\/p>\n

\u0110\u1ec3 t\u0103ng ngu\u1ed3n cung ti\u1ec1n trong n\u1ec1n kinh t\u1ebf, Fed c\u0169ng c\u00f3 th\u1ec3 mua t\u00edn phi\u1ebfu Kho b\u1ea1c tr\u00ean th\u1ecb tr\u01b0\u1eddng m\u1edf \u0111\u1ec3 ti\u1ebfp th\u00eam v\u1ed1n v\u00e0o n\u1ec1n kinh t\u1ebf \u0111ang suy y\u1ebfu.<\/p>\n

(Theo investopedia<\/i>)<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

\n Ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 th\u00edch \u1ee9ng (ti\u1ebfng Anh: Accommodative Monetary Policy) \u0111\u01b0\u1ee3c ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng th\u1ef1c hi\u1ec7n khi n\u1ec1n kinh t\u1ebf t\u0103ng tr\u01b0\u1edfng ch\u1eadm l\u1ea1i nh\u1eb1m c\u1ed1 g\u1eafng t\u0103ng t\u1ed5ng cung ti\u1ec1n \u0111\u1ec3 th\u00fac \u0111\u1ea9y n\u1ec1n kinh t\u1ebf.\n <\/div>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[414],"tags":[],"_links":{"self":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/25453"}],"collection":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/comments?post=25453"}],"version-history":[{"count":0,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/25453\/revisions"}],"wp:attachment":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/media?parent=25453"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/categories?post=25453"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/tags?post=25453"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}