Kokonaisrahamäärä

Kokonaisrahamäärä, often translated as total money supply, refers to the sum of all monetary assets available in an economy at a specific point in time. This concept is a crucial indicator for economists and policymakers as it influences inflation, interest rates, and overall economic activity.

There are different measures of the total money supply, typically categorized into monetary aggregates. The most common aggregates include M0, M1, M2, and M3. M0, also known as the monetary base, includes physical currency in circulation and commercial banks' reserves held at the central bank. M1 is a narrower measure, typically encompassing M0 plus demand deposits (checking accounts) and other checkable deposits. M2 broadens the scope further by adding M1 along with savings deposits, money market mutual funds, and other time deposits. M3 is an even broader measure, including M2 plus larger time deposits, institutional money market funds, and other liquid assets.

The central bank of a country is responsible for managing and controlling the kokonaisrahamäärä. This is achieved through various monetary policy tools, such as setting interest rates, conducting open market operations (buying and selling government securities), and adjusting reserve requirements for banks. By influencing the money supply, central banks aim to achieve macroeconomic objectives like price stability, full employment, and sustainable economic growth. An excessive increase in the money supply without a corresponding increase in goods and services can lead to inflation, while a contraction can result in deflation or a slowdown in economic activity.