{"id":7660,"date":"2016-02-05T01:34:35","date_gmt":"2016-02-04T16:34:35","guid":{"rendered":"http:\/\/hyunsik.me\/wordpress\/?p=7660"},"modified":"2020-11-19T04:48:10","modified_gmt":"2020-11-18T19:48:10","slug":"%eb%a7%a8%ed%81%90%ec%9d%98-%ea%b2%bd%ec%a0%9c%ed%95%99-%ec%a0%95%eb%a6%ac-by-h-log-10%eb%b6%80-%ed%99%94%ed%8f%90%ec%99%80-%eb%ac%bc%ea%b0%80%ec%9d%98","status":"publish","type":"post","link":"http:\/\/hyunsik.me\/wordpress\/?p=7660","title":{"rendered":"\ub9e8\ud050\uc758 \uacbd\uc81c\ud559 \uc815\ub9ac By H Log \u2013 10\ubd80. \ud654\ud3d0\uc640 \ubb3c\uac00\uc758 \uc7a5\uae30\uc801 \uad00\uacc4"},"content":{"rendered":"

[mqe][\/mqe]<\/p>\n

[line][\/line]<\/p>\n

\ub9e8\ud050\uc758 \uacbd\uc81c\ud559 10\ubd80\ub294 \uc544\ub798\uacfc \uac19\uc774 \uc774\ub8e8\uc5b4\uc838 \uc788\uc73c\uba70,
\n\ud1b5\ud654\uc81c\ub3c4\uac00 \ubb3c\uac00\uc218\uc900\uacfc \uc778\ud50c\ub808\uc774\uc158\uc728, \uae30\ud0c0 \uba85\ubaa9\ubcc0\uc218\uc758 \uacb0\uc815\uc5d0
\n\uc5b4\ub5bb\uac8c \uc601\ud5a5\uc744 \ub07c\uce58\ub294\uc9c0 \uc124\uba85\ud55c\ub2e4.<\/p>\n

\uc81c 10\ubd80. \ud654\ud3d0\uc640 \ubb3c\uac00\uc758 \uc7a5\uae30\uc801 \uad00\uacc4<\/strong>
\n \uc81c 29\uc7a5. \ud1b5\ud654\uc81c\ub3c4<\/span>
\n \uc81c 30\uc7a5. \ud1b5\ud654\ub7c9 \uc99d\uac00\uc640 \uc778\ud50c\ub808\uc774\uc158<\/span><\/p>\n

\u2605 \uc81c 29\uc7a5. \ud1b5\ud654\uc81c\ub3c4 \u2605<\/strong><\/p>\n

29\uc7a5 \ud1b5\ud654\uc81c\ub3c4 \uc5d0\uc11c\ub294
\n\uc911\uc559\uc740\ud589\uc774 \uc5b4\ub5bb\uac8c \ud1b5\ud654\ub7c9\uc744 \uc870\uc808\ud560 \uc218 \uc788\ub294\uc9c0\uc5d0 \ub300\ud574 \uc124\uba85\ud55c\ub2e4.<\/p>\n

\ud654\ud3d0(money)\uc758 \uae30\ub2a5\uc740
\n\uad50\ud658\uc758 \ub9e4\uac1c\uc218\ub2e8(medium of exchange), \ud68c\uacc4\uc758 \ub2e8\uc704(unit of account),
\n\uac00\uce58\uc758 \uc800\uc7a5\uc218\ub2e8(store of value) \uc774 \uc788\ub2e4.
\n\ub610\ud55c \uc8fc\uc2dd, \ucc44\uad8c\uacfc \uac19\uc774 \uc801\uc740 \ube44\uc6a9\uc73c\ub85c \uc27d\uac8c \ud604\uae08\ud654\ud560 \uc218 \uc788\ub294 \uc790\uc0b0\uc740 \uc720\ub3d9\uc131(liquidity)\uc774 \ub192\ub2e4\uace0 \ud558\uba70,
\n\uc8fc\ud0dd\uacfc \uac19\uc774 \ud604\uae08\ud654\uc5d0 \ub9ce\uc740 \uc2dc\uac04\uacfc \ub178\ub825\uc774 \ud544\uc694\ud55c \uc790\uc0b0\uc744 \uc720\ub3d9\uc131\uc774 \ub0ae\ub2e4\uace0 \ud55c\ub2e4.
\n\u25c6 \ud654\ud3d0(money) : \uc7ac\ud654\uc640 \uc11c\ube44\uc2a4\ub97c \uad6c\uc785\ud558\uae30 \uc704\ud574 \uc77c\ubc18\uc801\uc73c\ub85c \uc0ac\uc6a9\ud558\ub294 \uba87 \uac00\uc9c0 \uc790\uc0b0
\n\u25c6 \uad50\ud658\uc758 \ub9e4\uac1c\uc218\ub2e8(medium of exchange) : \uc7ac\ud654\uc640 \uc11c\ube44\uc2a4\uc758 \uad6c\uc785\uc5d0 \uc0ac\uc6a9\ud558\ub294 \uc9c0\ubd88\uc218\ub2e8
\n\u25c6 \ud68c\uacc4\uc758 \ub2e8\uc704(unit of account) : \ubb3c\uac74 \uac00\uaca9\uc744 \uc815\ud558\uace0 \uae30\ub85d\uc5d0 \uc0ac\uc6a9\ub418\ub294 \uce21\uc815\uc218\ub2e8
\n\u25c6 \uac00\uce58\uc758 \uc800\uc7a5\uc218\ub2e8(store of value) : \ud604\uc7ac\uc758 \uad6c\ub9e4\ub825\uc744 \ubbf8\ub798\ub85c \uc774\uc804\ud558\ub294\ub370 \uc774\uc6a9\ub418\ub294 \uc218\ub2e8
\n\u25c6 \uc720\ub3d9\uc131(liquidity) : \uc5b4\ub5a4 \uc790\uc0b0\uc744 \uad50\ud658\uc758 \ub9e4\uac1c\uc218\ub2e8\uc73c\ub85c \uc5bc\ub9c8\ub098 \uc27d\uac8c \ubc14\uafc0 \uc218 \uc788\ub294 \uc9c0\uc758 \uc815\ub3c4<\/p>\n

\ud654\ud3d0\uc758 \uc885\ub958\ub294 \ubb3c\ud488\ud654\ud3d0(com-modity money), \ubc95\ud654(fiat money) \uac00 \uc788\ub2e4.
\n\u25c6 \ubb3c\ud488\ud654\ud3d0(com-modity money) : \ubb3c\uac74 \uc790\uccb4\ub85c\ub3c4 \uc0c1\ud488\uac00\uce58\uac00 \uc788\ub294 \ud654\ud3d0(\uae08)
\n\u25c6 \ubc95\ud654(fiat money) : \uadf8 \uc790\uccb4\ub85c\ub294 \ud654\ud3d0 \uac00\uce58\uac00 \uc5c6\uace0 \uc815\ubd80\uc758 \uba85\ub839\uc5d0 \ub530\ub77c \ud1b5\uc6a9\ub418\ub294 \ud654\ud3d0(\ud604\uae08)<\/p>\n

\ud1b5\ud654\ub7c9(money stock) \uc744 \uce21\uc815\ud560 \ub54c \ud3ec\ud568\ub418\ub294 \ud654\ud3d0\ub85c\ub294
\n\ud604\uae08(currency), \uc694\uad6c\ubd88\uc608\uae08(demand deposits) \ub4f1\uc774 \ud3ec\ud568\ub41c\ub2e4.
\n\uc544\ub798\uc640 \uac19\uc740 \ud1b5\ud654\uc9c0\ud45c\uc640 \uc720\ub3d9\uc131\uc9c0\ud45c\uac00 \uc0ac\uc6a9\ub41c\ub2e4.
\n\"\ud1b5\ud654\uc9c0\ud45c\"
\n\u203b \ud55c\uadf9\uc740\ud589 \uacbd\uc81c\uad50\uc721\uc5d0\uc11c \ud37c\uc628 \ud45c\uc784.
\n\u25c6 \ud1b5\ud654\uc9c0\ud45c\uc5d0 \ub300\ud55c \ub354 \uc790\uc138\ud55c \ub0b4\uc6a9 : \ud55c\uad6d\uc740\ud589 \uacbd\uc81c\uad50\uc721 \ucc38\uace0<\/a><\/p>\n

\uc911\uc559\uc740\ud589\uc740 \ub450\uac00\uc9c0 \uc5f0\uad00\ub41c \uc9c1\ubb34\ub97c \uc218\ud589\ud55c\ub2e4.
\n\uccab\uc9f8, \uc740\ud589\uc744 \uaddc\uc81c\ud558\uace0 \uc740\ud589\uc81c\ub3c4\uc758 \uac74\uc804\uc131\uc744 \ubcf4\uc7a5\ud55c\ub2e4. (\uc740\ud589\uc758 \uc740\ud589 \uc5ed\ud560 \ud3ec\ud568)
\n\ub458\uc9f8, \uc0c1\ud669\uc5d0 \uc54c\ub9de\ub294 \ud1b5\ud654\uc815\ucc45(monetary policy) \ub97c \ud1b5\ud574 \ud1b5\ud654\ub7c9(money stock)\uc744 \uc870\uc808\ud55c\ub2e4.
\n\ud1b5\ud654\ub7c9\uc774 \uc99d\uac00\ud558\uba74 \ubb3c\uac00\uac00 \uc0c1\uc2b9\ud558\uba70, \ub2e8\uae30\uc801\uc73c\ub85c \uc778\ud50c\ub808\uc774\uc158\uc740 \uc2e4\uc5c5\uacfc \uc0c1\ucda9\uad00\uacc4\uc5d0 \uc788\ub2e4.
\n\uc774 \ubd80\ubd84\uc774 \ud1b5\ud654\ub7c9\uc774 \uc911\uc694\ud55c \uc810\uc774\uba70, \ub610\ud55c \uc911\uc559\uc740\ud589\uc758 \ud798\uc740 \uc774 \uc6d0\ub9ac\uc5d0\uc11c \ub098\uc628\ub2e4.<\/p>\n

\uc740\ud589\ub4e4\uc758 \uc911\uc694\ud55c \uae30\ub2a5 \uc911 \ud558\ub098\ub294 \ud1b5\ud654\ucc3d\ucd9c \uae30\ub2a5\uc774\ub2e4.
\n\uc740\ud589\uc740 \uc608\uae08 \uace0\uac1d\uc758 \uc608\uae08\uc5d0\uc11c \ubd80\ubd84\uc9c0\uae09\uc900\ube44\uc81c\ub3c4(fractional-reserve banking) \uc744 \ud1b5\ud55c
\n\uc9c0\uae09\uc900\ube44\uc728(reserve ratio) \ub9cc\ud07c\uc758 \uae08\uc561\uc744 \uc81c\uc678\ud55c \ub098\uba38\uc9c0 \uae08\uc561\uc744 \ub300\ucd9c \uace0\uac1d\uc5d0\uac8c
\n\ub300\ucd9c\ud574\uc904 \uc218 \uc788\uae30 \ub54c\ubb38\uc5d0 \uc740\ud589\uc740 \uc608\uae08\ud1b5\ud654\uc2b9\uc218(money multiplier)\uc5d0 \ub530\ub77c \ud1b5\ud654\ucc3d\ucd9c\uc774 \uac00\ub2a5\ud558\ub2e4.
\n\u25c6 \ud654\ud3d0, \ud1b5\ud654, \uadf8\ub9ac\uace0 \uc2e0\uc6a9\ucc3d\uc870 : http:\/\/hyunsik.me\/wordpress\/?p=14314<\/a>
\n\u25c6 \ud1b5\ud654\uc815\ucc45\uacfc \uae30\uc900\uae08\ub9ac : http:\/\/hyunsik.me\/wordpress\/?p=13962<\/a>
\n\u25c6 \ubd80\ubd84\uc9c0\uae09\uc900\ube44\uc81c\ub3c4(fractional-reserve banking) : \uc704\ud0a4\ud53c\ub514\uc544 \ucc38\uace0<\/a>
\n\u25c6 \uc608\uae08\ucc3d\uc870(deposit creation) \/ \uc2e0\uc6a9\ucc3d\uc870(credit creation) : \ud55c\uad6d\uc740\ud589 \ucc38\uace0<\/a>
\n\u25c6 \uc740\ud589\uc758 \ud1b5\ud654\ucc3d\ucd9c\uc5d0 \ub300\ud574 \uc880 \ub354 \uc54c\uace0 \uc2f6\ub2e4\uba74 : \u314d\u314d\u3145\u3145 \ucc38\uace0<\/a><\/p>\n

\ub9ce\uc740 \uae30\uc5c5\ub4e4\uc740 \ub808\ubc84\ub9ac\uc9c0(leverage) \ub97c \uc0ac\uc6a9\ud558\ub294\ub370 \uc740\ud589\ub4e4\uc5d0\uac8c\ub294 \ud2b9\ud788 \uc911\uc694\ud558\ub2e4.
\n\ub808\ubc84\ub9ac\uc9c0 \ube44\uc728(leverage ratio) \ub294 \uc740\ud589\uc758 \ucd1d \uc790\uc0b0\uc744 \uc790\uae30\uc790\ubcf8\uc73c\ub85c \ub098\ub208 \ube44\uc728\ub85c
\n\uc608\ub97c \ub4e4\uc5b4 \ub808\ubc84\ub9ac\uc9c0 \ube44\uc728\uc774 20 \uc774\ub77c\uace0 \ud55c\ub2e4\uba74 \uc740\ud589 \uc8fc\uc8fc\ub4e4\uc774 \ub0b4\ub193\uc740
\n\uc790\uae30\uc790\ubcf8 1\ub9cc\uc6d0\ub2f9 20\ub9cc\uc6d0\uc758 \uc790\uc0b0\uc774 \uc788\ub2e4\ub294 \ub73b\uc774\ub2e4.
\n\ub610\ud55c \uc740\ud589\uc758 \uc790\uc0b0\uc774 \ucd1d 20\ub9cc\uc6d0\uc774\ub77c\uace0 \uac00\uc815\ud588\uc744 \ub54c
\n\uc740\ud589\uc758 \uc790\uc0b0\uc774 5% \uc99d\uac00\ud55c\ub2e4\uace0 \ud558\uba74 \uc740\ud589\uc758 \uc790\uae30\uc790\ubcf8\uc740 2\ub9cc\uc6d0\uc774 \ub418\ub294 \uac83\uc774\uace0,
\n\ucd1d \uc790\uc0b0\uc740 21\ub9cc\uc6d0\uc774 \ub418\ub294 \uac83\uc774\ubbc0\ub85c \uc790\uae30\uc790\ubcf8\uc740 100% \uc99d\uac00\ud558\ub294 \uac83\uc774\ub2e4.
\n\uc774\ub807\uac8c \ub808\ubc84\ub9ac\uc9c0 \ube44\uc728\uc774 20\uc778 \uacbd\uc6b0\uc5d0 \uc790\uc0b0\uac00\uce58\uac00 5% \uc99d\uac00\ud558\uba74 \uc790\uae30\uc790\ubcf8\uc740 100% \uc99d\uac00\ud558\ub294 \uac83\uc774\ub2e4.
\n\uc774 \uc6d0\ub9ac\ub294 \ubc18\ub300\ubc29\ud5a5\uc73c\ub85c \uc801\uc6a9\ub418\ub294\ub370 \ub9e4\uc6b0 \uc88b\uc9c0 \uc54a\uc740 \uacb0\uacfc\ub97c \uac00\uc838\uc628\ub2e4.
\n\uc740\ud589\uc73c\ub85c\ubd80\ud130 \ub3c8\uc744 \ube4c\ub9b0 \uc0ac\ub78c\uc774 \ub300\ucd9c\uae08\uc744 \uac1a\uc9c0 \ubabb\ud558\uc5ec
\n\uc740\ud589\uc758 \uc790\uc0b0\uac00\uce58\uac00 20\ub9cc\uc6d0\uc5d0\uc11c 19\ub9cc\uc6d0\uc73c\ub85c 5% \uac10\uc18c\ud55c\ub2e4\uba74 \uc740\ud589\uc758 \uc790\uae30\uc790\ubcf8\uc740 0\uc6d0\uc774 \ub41c\ub2e4.
\n\ub530\ub77c\uc11c \ub808\ubc84\ub9ac\uc9c0 \ube44\uc728\uc774 20\uc778 \uacbd\uc6b0\uc5d0 \uc790\uc0b0\uac00\uce58\uac00 5% \uac10\uc18c\ud558\uba74 \uc790\uae30\uc790\ubcf8\uc740 100% \uac10\uc18c\ud55c\ub2e4.
\n\uc774\ub7f0 \uc774\uc720\ub85c \uc740\ud589\uaddc\uc81c \ub2f9\uad6d\uc740 \uc740\ud589\ub4e4\uc774 \uc77c\uc815\uc561\uc758 \uc790\ubcf8\uc744 \ubcf4\uc720\ud558\ub3c4\ub85d \uc694\uad6c\ud558\ub294 \uc790\ubcf8\uae08\uc744 \uaddc\uc81c\ud55c\ub2e4.
\n\u203b 2008, 2009\ub144 \ubbf8\uad6d\uc758 \ubaa8\uae30\uc9c0 \ub300\ucd9c \ucc44\uad8c \ubd80\uc2e4\ub85c \uc778\ud55c \uc190\ud574 \ub54c\ubb38\uc5d0 \uc704\uc640 \uac19\uc740 \ubb38\uc81c\uac00 \ubc1c\uc0dd\ud588\uc5c8\ub2e4.
\n\u25c6 \ub808\ubc84\ub9ac\uc9c0(leverage) : \uae30\uc874\uc758 \uc790\uae08\uc5d0 \ucc28\uc785\ud55c \uc790\uae08\uc744 \ub354\ud558\uc5ec \ud22c\uc790 \uc7ac\uc6d0\uc744 \ub9c8\ub828\ud558\ub294 \uac83<\/p>\n

\uc911\uc559\uc740\ud589\uc740 \uacf5\uac1c\uc2dc\uc7a5\uc6b4\uc601(open-market operations),
\n\uc7ac\ud560\uc778\uc728 \uc870\uc815, \uc9c0\uae09\uc900\ube44\uc728 \uc870\uc815\uc744 \ud1b5\ud574 \ud1b5\ud654\ub7c9\uc744 \uc870\uc808\ud560 \uc218 \uc788\ub2e4.
\n\ub610\ud55c \uc911\uc559\uc740\ud589\uc740 \ubc95\uc815\uc9c0\uae09\uc900\ube44\uc728(reserve requirements) \uc744 \ud1b5\ud574 \uc9c0\uae09\uc900\ube44\uc728\uc744 \uc870\uc815\ud558\uac70\ub098,
\n\uc9c0\uae09\uc900\ube44\uae08\uc5d0 \ub300\ud574 \uc774\uc790\uc728\uc744 \uc870\uc815\ud568\uc73c\ub85c \ud1b5\ud654\uc2b9\uc218\ub97c \uc870\uc808\ud558\uc5ec \ud1b5\ud654\ub7c9\uc744 \uc870\uc808\ud560 \uc218 \uc788\ub2e4.
\n\u25c6 \uacf5\uac1c\uc2dc\uc7a5\uc870\uc791(open-market operations) : \uc911\uc559\uc740\ud589\uc774 \ubbfc\uac04\uc5d0\uac8c\uc11c \uad6d\ucc44\ub97c \uc0ac\uac70\ub098 \ud30c\ub294 \ud589\uc704<\/p>\n

\uc9c0\uae08\uae4c\uc9c0 \ubcf4\uc558\ub4ef\uc774 \uacf5\uac1c\uc2dc\uc7a5\uc870\uc791, \uc740\ud589\uc5d0 \ub300\ud55c \ub300\ucd9c, \ubc95\uc815\uc9c0\uae09\uc900\ube44\uc728, \uc9c0\ubd88\uc900\ube44\uae08\uc5d0 \ub300\ud55c \uc774\uc790\uc728 \ub4f1
\n\uc911\uc559\uc740\ud589\uc758 \ub2e4\uc591\ud55c \uc815\ucc45\uc218\ub2e8\uc740 \ud1b5\ud654\ub7c9\uc5d0 \uac15\ub825\ud55c \uc601\ud5a5\uc744 \ubbf8\uce5c\ub2e4.
\n\ud558\uc9c0\ub9cc \uac00\uacc4\ub4e4\uc774 \ud604\uae08 \ud615\ud0dc\ub85c \ubcf4\uc720\ud558\ub824\ub294 \ud654\ud3d0\uc758 \uc591\uc744 \uc911\uc559\uc740\ud589\uc774 \ud1b5\uc81c\ud560 \uc218 \uc5c6\uc73c\uba70,
\n\uc740\ud589\uc774 \ucd08\uacfc\uc9c0\uae09\uc900\ube44\uae08\uc744 \ubcf4\uc720\ud558\ub294 \uac83\uc744 \ud1b5\uc81c\ud560 \uc218\ub294 \uc5c6\uae30 \ub54c\ubb38\uc5d0
\n\uc911\uc559\uc740\ud589\uc740 \ud1b5\ud654\ub7c9\uc744 \uc644\ubcbd\ud558\uac8c \ud1b5\uc81c\ud560 \uc218\ub294 \uc5c6\ub2e4.(\ub298 \uae08\uc735\uc2dc\uc7a5\uc758 \ubcc0\ud654\ub97c \uac10\uc9c0\ud558\uae30 \uc704\ud574 \ub178\ub825\ud574\uc57c \ud55c\ub2e4.)<\/p>\n

\ucf5c\uae08\ub9ac(\ubbf8\uad6d\uc758 \uacbd\uc6b0 \uc5f0\ubc29\uae30\uae08 \uae08\ub9ac)\ub294 \uc740\ud589\ub4e4 \uc0ac\uc774\uc5d0 \ub300\ucd9c\uc5d0 \uc801\uc6a9\ub418\ub294 \ub2e8\uae30 \uc774\uc790\uc728\uc774\uba70,
\n\uc7ac\ud560\uc778\uc728\uc740 \uc911\uc559\uc740\ud589\uc774 (\uc2dc\uc911\uc740\ud589\ub4e4\uc5d0\uac8c) \ud658\ub9e4\uc870\uac74\ubd80 \ucc44\uad8c\uc744 \uc0ac\uace0 \ud314 \ub54c\uc758 \uc774\uc790\uc728\uc774\uace0(\ub450\ubc88\uc758 \ud560\uc778),
\n\uae30\uc900\uae08\ub9ac(Key rate)\ub294 \ub2e8\uc21c\ud55c \uc774\uc790\uc728\uc774 \uc544\ub2c8\ub77c \ucf5c\uae08\ub9ac \uc6b4\uc6a9 \ubaa9\ud45c\uce58(\uc815\ucc45\uae08\ub9ac)\uc774\ub2e4.
\n\u2605 \uc6b0\ub9ac\ub098\ub77c\ub294 \ud55c\uad6d\uc740\ud589 7\uc77c\ubb3c \ud658\ub9e4\uc870\uac74\ubd80\ub9e4\ub3c4\uae08\ub9ac\ub97c \uae30\uc900\uae08\ub9ac\ub85c \uc0ac\uc6a9\ud55c\ub2e4.<\/p>\n

\u2605 \uc81c 30\uc7a5. \ud1b5\ud654\ub7c9 \uc99d\uac00\uc640 \uc778\ud50c\ub808\uc774\uc158 \u2605<\/strong><\/p>\n

30\uc7a5. \ud1b5\ud654\ub7c9 \uc99d\uac00\uc640 \uc778\ud50c\ub808\uc774\uc158 \uc5d0\uc11c\ub294
\n\ud1b5\ud654\ub7c9\uc774 \uc778\ud50c\ub808\uc774\uc158\uc5d0 \uc5b4\ub5bb\uac8c \uc601\ud5a5\uc744 \uc904 \uc218 \uc788\ub294\uc9c0
\n\uc778\ud50c\ub808\uc774\uc158\uacfc \ub514\ud50c\ub808\uc774\uc158\uc740 \uacbd\uc81c\uc5d0 \uc5b4\ub5a4 \uc601\ud5a5\uc744 \uc8fc\ub294 \uc9c0\uc5d0 \ub300\ud574 \uc124\uba85\ud55c\ub2e4.<\/p>\n

\uc6b0\uc120 \uc778\ud50c\ub808\uc774\uc158\uc774 \uc7ac\ud654\uc758 \uac00\uce58\ubcf4\ub2e4 \ud654\ud3d0\uc758 \uac00\uce58\uc5d0 \uad00\ub828\ub41c \ud604\uc0c1\uc774\ub77c\ub294 \uc810\uc744 \uc6b0\uc120 \uc54c\uc544\ub450\uc790.
\nP \uac00 \ud654\ud3d0 \ub2e8\uc704\ub85c \ud45c\uc2dc\ud55c \uc7ac\ud654\uc640 \uc11c\ube44\uc2a4\uc758 \uac00\uaca9\uc774\ub77c\uba74
\n1\/P \uc740 \uc7ac\ud654\uc640 \uc11c\ube44\uc2a4\uc758 \uc591\uc73c\ub85c \ud45c\uc2dc\ud55c \ud654\ud3d0\uc758 \uac00\uce58\ub85c \ubcfc \uc218 \uc788\uc73c\uba70,
\nP \uc758 \uc218\uce58\uac00 \ucee4\uc9c8 \uc218\ub85d 1\/P \uc758 \uc218\uce58\uac00 \uc791\uc544\uc9c0\ub294 \uac83\uc73c\ub85c
\n\ubb3c\uac00\uc218\uc900\uacfc \ud654\ud3d0\uc758 \uac00\uce58\uac04\uc5d0 \uad00\uacc4\ub97c \ud655\uc778\ud560 \uc218 \uc788\ub2e4.
\n\uacb0\uad6d \uc804\ubc18\uc801\uc778 \ubb3c\uac00\uc218\uc900\uc774 \uc0c1\uc2b9\ud588\ub2e4\ub294 \uac83\uc740 \ud654\ud3d0\uc758 \uac00\uce58\uac00 \ud558\ub77d\ud588\ub2e4\ub294 \uc758\ubbf8\uc774\ub2e4.<\/p>\n

\ud654\ud3d0\uc758 \uac00\uce58\ub294 \ub2e4\ub978 \uc2dc\uc7a5\ub4e4\uacfc \ub9c8\ucc2c\uac00\uc9c0\ub85c \uc218\uc694\uc640 \uacf5\uae09\uc758 \uade0\ud615\uc5d0 \uc758\ud574 \uacb0\uc815\ub41c\ub2e4.
\n\uc9c0\ub09c 29\uc7a5\uc5d0\uc11c \ud654\ud3d0\uc758 \uacf5\uae09(\ud1b5\ud654\ub7c9)\uc740 \uc911\uc559\uc740\ud589\uacfc \uc740\ud589\ub4e4\uc5d0 \uc758\ud574 \uc5b4\ub5bb\uac8c \uacb0\uc815\ub418\ub294\uc9c0 \ubcf4\uc558\uc73c\uba70,
\n\ud654\ud3d0\uc758 \uc218\uc694\ub294 \uc0ac\ub78c\ub4e4\uc774 \uc5bc\ub9c8\ub098 \ub9ce\uc740 \uc7ac\uc0b0\uc744 \uc720\ub3d9\uc131 \ud615\ud0dc\ub85c \ubcf4\uc720\ud558\uace0 \uc2f6\uc5b4\ud558\ub294\uc9c0\ub97c \ubc18\uc601\ud55c\ub2e4.
\n\uc608\ub97c \ub4e4\uc5b4 \ubb3c\uac00\uac00 \uc624\ub978\ub2e4\uba74 \uc0ac\ub78c\ub4e4\uc740 \ub354 \ub9ce\uc740 \ud654\ud3d0\ub97c \ubcf4\uc720\ud558\uace0 \uc2f6\uc5b4\ud560 \uac83\uc774\ub2e4.(\uad50\ud658\uc758 \ub9e4\uac1c\uc218\ub2e8\uc774\uae30\uc5d0)
\n\u203b \ud1b5\ud654\ub7c9\uc740 \uc911\uc559\uc740\ud589\uc774 \uc9c1\uc811 \ud1b5\uc81c\ud560 \uc218 \uc788\ub294 \uc815\ucc45\ubcc0\uc218\ub77c\uace0 \uac00\uc815\ud55c\ub2e4.<\/p>\n

\uc911\uc559\uc740\ud589\uc774 \uacf5\uae09\ud558\ub294 \ud654\ud3d0\uc758 \uc591\uacfc \uc0ac\ub78c\ub4e4\uc774 \ubcf4\uc720\ud558\ub824\ub294 \ud654\ud3d0\uc758 \uc591\uc744 \uc77c\uce58\uc2dc\ud0a4\ub294 \uac83\uc740
\n\ub2e8\uae30\uc5d0\ub294 \uc774\uc790\uc728\uc758 \uc5ed\ud560\uc774 \uc911\uc694\ud558\uba70,
\n\uc7a5\uae30\uc5d0\ub294 \uc804\ubc18\uc801\uc778 \ubb3c\uac00\uc218\uc900\uc5d0 \uc758\ud574 \uc218\uc694\uc640 \uacf5\uae09\uc774 \uc77c\uce58\ud558\uac8c \ub41c\ub2e4.
\n\uc544\ub798 \uadf8\ub798\ud504\ub294 \ud654\ud3d0 \uc218\uc694\uc640 \uacf5\uae09\uc774 \uc5b4\ub5bb\uac8c \uade0\ud615\uc744 \ucc3e\uc544\uac00\ub294\uc9c0 \ubcf4\uc5ec\uc900\ub2e4.<\/p>\n

<\/p>\n

\uc704 \uadf8\ub798\ud504\uc5d0\uc11c (\uc911\uc559\uc740\ud589\uc758 \uc815\ucc45\uc5d0 \uc758\ud574) \ud1b5\ud654\ub7c9\uc774 \uc99d\uac00\ud558\uc5ec \ud654\ud3d0 \uacf5\uae09 \uace1\uc120\uc774 \uc624\ub978\ucabd\uc73c\ub85c \uc774\ub3d9\ud55c\ub2e4\uba74,
\n[ \ud654\ud3d0\uc758 \uacf5\uae09\uc774 \uc99d\uac00(\ud1b5\ud654\ub7c9 \uc99d\uac00) \u2192 \ud654\ud3d0\uc758 \uc218\uc694 \uc99d\uac00 \/ \uac00\uce58 \ud558\ub77d \/ \ubb3c\uac00 \uc0c1\uc2b9 ] \uc758 \ud6a8\uacfc\uac00 \ub098\ud0c0\ub09c\ub2e4.<\/p>\n

\uace0\uc804\ud559\ud30c\uc758 \uc774\ubd84\ubc95(classical dichotomy)\uc5d0 \uc758\ud55c \ubd84\uc11d\uc5d0 \ub530\ub974\uba74
\n\ud654\ud3d0 \uacf5\uae09\ub7c9\uc758 \ubcc0\ub3d9\uc740 \uba85\ubaa9\ubcc0\uc218\uc5d0\ub294 \uc601\ud5a5\uc744 \ubbf8\uce58\uc9c0\ub9cc
\n\uc2e4\uc9c8\ubcc0\uc218\uc5d0\ub294 \uc544\ubb34\ub7f0 \uc601\ud5a5\uc744 \uc8fc\uc9c0 \ubabb\ud55c\ub2e4.
\n\uc608\ub97c \ub4e4\uc5b4 \uc911\uc559\uc740\ud589\uc774 \ud1b5\ud654\ub7c9\uc744 2\ubc30\ub85c \ub298\ub9ac\uba74 \ubb3c\uac00\uc218\uc900\uc774 2\ubc30\ub85c \uc0c1\uc2b9\ud558\uace0,
\n\uba85\ubaa9\uc784\uae08\uacfc \uc5ec\ud0c0 \uba85\ubaa9\ubcc0\uc218\ub3c4 \uac01\uac01 2\ubc30\ub85c \uc99d\uac00\ud55c\ub2e4.
\n\ud558\uc9c0\ub9cc \uc0dd\uc0b0, \uace0\uc6a9, \uc2e4\uc9c8\uc784\uae08, \uc2e4\uc9c8\uc774\uc790\uc728 \ub4f1 \uc2e4\uc9c8\ubcc0\uc218\ub4e4\uc740 \ubcc0\ud558\uc9c0 \uc54a\ub294\ub2e4.
\n\uc774\ub807\uac8c \uc2e4\uc9c8\ubcc0\uc218\uac00 \ud1b5\ud654\ub7c9\uc758 \ubcc0\ub3d9\uacfc \ubb34\uad00\ud558\ub2e4\ub294 \uc0ac\uc2e4\uc744 \ud654\ud3d0\uc758 \uc911\ub9bd\uc131(monetary neutrality) \ub77c\uace0 \ud55c\ub2e4.
\n\uc624\ub298\ub0a0 \ub300\ubd80\ubd84\uc758 \uacbd\uc81c\ud559\uc790\ub4e4\uc740 \uc704\uc758 \uc2e4\uc9c8\ubcc0\uc218\uac00 \ud1b5\ud654\ub7c9\uc758 \ubcc0\ub3d9\uacfc \ubb34\uad00\ud558\ub2e4\ub294 \uc774\ub7ec\ud55c \uacb0\ub860\uc744
\n\uc7a5\uae30\uc5d0 \ub300\ud55c \uc124\uba85\uc73c\ub85c\ub294 \uc218\uc6a9\ud558\uc9c0\ub9cc, \ub2e8\uae30\uc5d0 \ub300\ud55c \uc124\uba85\uc73c\ub85c\ub294 \uc218\uc6a9\ud558\uc9c0 \uc54a\ub294\ub2e4.
\n\u25c6 \uace0\uc804\ud559\ud30c\uc758 \uc774\ubd84\ubc95(classical dichotomy) : \uacbd\uc81c\ubcc0\uc218\ub97c \uba85\ubaa9\ubcc0\uc218\uc640 \uc2e4\uc9c8\ubcc0\uc218\ub85c \ub098\ub204\ub294 \uac83
\n\u25c6 \uba85\ubaa9\ubcc0\uc218\uc640 \uc2e4\uc9c8\ubcc0\uc218: http:\/\/hyunsik.me\/wordpress\/?p=14155<\/a>
\n\u25c6 \uace0\uc804\ud559\ud30c\uc758 \uc774\ubd84\ubc95(classical dichotomy) : \uc704\ud0a4\ud53c\ub514\uc544 \ucc38\uace0<\/a>
\n\u25c6 \ud654\ud3d0\uc758 \uc911\ub9bd\uc131(monetary neutrality) : \ud1b5\ud654\ub7c9\uc758 \ubcc0\ud654\uac00 \uc2e4\uc9c8\ubcc0\uc218\uc5d0 \uc601\ud5a5\uc744 \uc8fc\uc9c0 \ubabb\ud55c\ub2e4\ub294 \uc774\ub860<\/p>\n

\uace0\uc804\ud559\ud30c\uc758 \ub300\ud45c\uc801\uc778 \uc774\ub860\uc778 \ud654\ud3d0\uc218\ub7c9\uc124(Quantity theory of money) \uc740
\n\ud1b5\ud654\ub7c9\uc774 \uc9c0\ub098\uce58\uac8c \ub298\uba74 \ubb3c\uac00\uac00 \uc0c1\uc2b9\ud55c\ub2e4\ub294 \ub0b4\uc6a9\uc744 \ub2f4\uace0 \uc788\uc73c\uba70,
\n\uc7a5\uae30\uc801 \uad00\uc810\uc5d0\uc11c\ub294 \uc815\uc124\ub85c \ubc1b\uc544\ub4e4\uc5ec\uc9c0\uace0 \uc788\ub2e4.
\n\u25c6 \ud654\ud3d0\uc218\ub7c9\uc124(Quantity theory of money) : \ud55c \uacbd\uc81c\uc5d0 \uc720\ud1b5\ub418\ub294 \ud654\ud3d0\uc758 \uc591\uc774 \ubb3c\uac00\uc218\uc900\uc744 \uacb0\uc815\ud558\uba70,
\n\ud1b5\ud654\ub7c9\uc758 \uc99d\uac00\uc728\uc774 \uc778\ud50c\ub808\uc774\uc158\uc728\uc744 \uacb0\uc815\ud55c\ub2e4\ub294 \uc774\ub860
\n\u25c6 \ud654\ud3d0\uc218\ub7c9\uc124(Quantity theory of money) : \ub124\uc774\ubc84\uc9c0\uc2dd\ubc31\uacfc \ucc38\uace0<\/a><\/p>\n

\uc774\uc81c \ud654\ud3d0\uc218\ub7c9\uc124\uc5d0 \ub530\ub978 \ud654\ud3d0\uc218\ub7c9\ubc29\uc815\uc2dd(quantity equation)\uc744 \uc54c\uc544\ubcf4\uc790.
\n\uc6b0\uc120 \ud654\ud3d0\uc720\ud1b5\uc18d\ub3c4(velocity of money) \ub294 \ub2e4\uc74c\uacfc \uac19\uc774 \uacc4\uc0b0\ub41c\ub2e4.
\n\ubb3c\uac00\uc218\uc900(GDP \ub514\ud50c\ub808\uc774\ud130) \ub97c [ P ], \uc0b0\ucd9c\ub7c9(\uc2e4\uc9c8 GDP)\uc744 [ Y ], \ud1b5\ud654\ub7c9\uc744 [ M ] \uc774\ub77c\uace0 \ud558\uba74
\n\ud654\ud3d0\uc720\ud1b5\uc18d\ub3c4 [ V ] \ub294 \ub2e4\uc74c\uacfc \uac19\uc774 \ud45c\ud604\ub420 \uc218 \uc788\ub2e4.
\nV = ( P * Y ) \/ M
\n\uadf8\ub9ac\uace0 \uc704 \uc2dd\uc758 \uc591\ubcc0\uc5d0 \ud1b5\ud654\ub7c9 [ M ] \uc744 \uacf1\ud558\uba74 \uc544\ub798\uc640 \uac19\uc774 \ud45c\ud604\ud560 \uc218 \uc788\ub2e4.
\nM * V = P * Y
\n\uc704 \ubc29\uc815\uc2dd\uc774 \ubc14\ub85c \ud654\ud3d0\uc218\ub7c9\ubc29\uc815\uc2dd\uc73c\ub85c \ud1b5\ud654\ub7c9(M)\uacfc \uc0b0\ucd9c\ub7c9\uc758 \uba85\ubaa9\uac00\uce58(P*Y)\uac04\uc758 \uad00\uacc4\ub97c \ub098\ud0c0\ub0b4\uc900\ub2e4.
\n\u25c6 \ud654\ud3d0\uc720\ud1b5\uc18d\ub3c4(velocity of money) : \ud654\ud3d0\uac00 \ud55c \uc0ac\ub78c\uc5d0\uac8c\uc11c \ub2e4\ub978 \uc0ac\ub78c\uc5d0\uac8c\ub85c \uc774\ub3d9\ud558\ub294 \ube48\ub3c4
\n\u25c6 \ud654\ud3d0\uc218\ub7c9\ubc29\uc815\uc2dd(quantity equation) :
\n\ud1b5\ud654\ub7c9[M] * \ud654\ud3d0\uc720\ud1b5\uc18d\ub3c4[V] = \ubb3c\uac00\uc218\uc900[P] * \uc0b0\ucd9c\ub7c9\/\uc2e4\uc9c8GDP[Y] (\u203b P * Y = \uba85\ubaa9GDP)
\n\u25a1 \ud1b5\ud654\uc99d\uac00\uc728(%) + \ud654\ud3d0\uc720\ud1b5\uc18d\ub3c4\uc99d\uac00\uc728(%) = \ubb3c\uac00\uc0c1\uc2b9\ub960(%) + \uacbd\uc81c\uc131\uc7a5\ub960(%)<\/p>\n

\uace0\uc804\ud559\ud30c\uc758 \uacac\ud574\ub294 \uc5ec\uae30\uc11c V\uac00 \ud070 \ubcc0\ud654\uac00 \uc5c6\ub294 \ubcc0\uc218\ub77c\uace0 \uc0dd\uac01\ud558\uba70,
\nY\ub97c \uc8fc\uc5b4\uc9c4 \uac83\uc73c\ub85c \ubc1b\uc544\ub4e4\uc600\uc744 \ub54c,
\nM(\ud1b5\ud654\ub7c9)\uc774 \uc99d\uac00\ud558\uba74 P(\ubb3c\uac00)\uac00 \ubc14\ub85c \uc99d\uac00\ud55c\ub2e4\ub294 \uac83\uc774\ub2e4.
\n\uc774 \uc758\ubbf8\ub294 \uc2e4\uc9c8 \ud1b5\ud654\ub7c9 \uc99d\uac00\uc2dc \uc2e4\uc9c8 \ubb3c\uac00\uac00 \ubc14\ub85c \uc0c1\uc2b9\ud55c\ub2e4\uba74
\n\uacb0\uad6d \ud55c \uad6d\uac00\uc758 \uacbd\uc81c\uc815\ucc45(\uc7ac\uc815\/\ud1b5\ud654)\uc774 \ubb34\uc758\ubbf8\ud558\ub2e4\ub294 \uac83\uc774\ub2e4.
\n\u203b \uc7a5\uae30\uc801\uc73c\ub85c\ub294 \ub300\uccb4\uc801\uc73c\ub85c \ub9de\ub2e4\uace0 \ubcf8\ub2e4. (\uc7a5\uae30\ub85c \ubcf4\uba74 \ub9de\uc744 \uc218 \ubc16\uc5d0…)<\/p>\n

\ud654\ud3d0\uc218\ub7c9\uc124\uc758 \ud575\uc2ec \ub0b4\uc6a9\uc740 \uc544\ub798\uc640 \uac19\ub2e4.
\n(1) \ud654\ud3d0\uc720\ud1b5\uc18d\ub3c4\ub294 \uc624\ub79c \uae30\uac04\uc5d0 \uac78\uccd0 \ube44\uad50\uc801 \uc548\uc815\uc801\uc774\ub2e4.
\n(2) \ud654\ud3d0\uc720\ud1b5\uc18d\ub3c4\uac00 \uc548\uc815\uc801\uc774\ubbc0\ub85c \ud1b5\ud654\ub7c9(M)\uc744 \ubcc0\ud654\uc2dc\ud0a4\uba74 \uc0b0\ucd9c\ub7c9\uc758 \uba85\ubaa9\uac00\uce58(P * Y)\ub294 \ube44\ub840\uc801\uc73c\ub85c \ubcc0\ud55c\ub2e4.
\n(3) \uc7ac\ud654\uc640 \uc11c\ube44\uc2a4\uc758 \uc0b0\ucd9c\ub7c9\/\uc2e4\uc9c8GDP(Y)\ub294 \uc0dd\uc0b0\uc694\uc18c\uc758 \uacf5\uae09\ub7c9\uacfc \uc0dd\uc0b0\uae30\uc220\uc5d0 \ub530\ub77c \uacb0\uc815\ub418\uba70,
\n\ud654\ud3d0\uc758 \uc911\ub9bd\uc131\uc774 \uc131\ub9bd\ud558\uae30 \ub54c\ubb38\uc5d0 \ud654\ud3d0 \uc218\ub7c9, \uc989 \ud1b5\ud654\ub7c9\uc740 \uc0b0\ucd9c\ub7c9(\uc2e4\uc9c8GDP)\uc5d0 \uc601\ud5a5\uc744 \ubbf8\uce58\uc9c0 \uc54a\ub294\ub2e4.
\n(4) \uc0b0\ucd9c\ub7c9(Y) \uc774 \uc0dd\uc0b0\uc694\uc18c\uc758 \uacf5\uae09\ub7c9\uacfc \uc0dd\uc0b0\uae30\uc220\uc5d0 \ub530\ub77c \uacb0\uc815\ub418\ubbc0\ub85c,
\n\uc911\uc559\uc740\ud589\uc774 \ud1b5\ud654\ub7c9(M)\uc744 \ub298\ub824 \uc0b0\ucd9c\ub7c9\uc758 \uba85\ubaa9\uac00\uce58(P * Y)\uac00 \ube44\ub840\uc801\uc73c\ub85c \uc99d\uac00\ud558\uba74 \ubb3c\uac00\ub9cc \uc0c1\uc2b9\ud55c\ub2e4.
\n(5) \ub530\ub77c\uc11c \uc911\uc559\uc740\ud589\uc774 \ud654\ud3d0 \uacf5\uae09\uc744 \uae09\uc18d\ud788 \uc99d\uac00\uc2dc\ud0a4\uba74 \uc778\ud50c\ub808\uc774\uc158\uc728\uc740 \ub192\uc544\uc9c4\ub2e4.
\n\u2605 \uacb0\uad6d M * V = P * Y \uc5d0\uc11c \ud654\ud3d0\uc720\ud1b5\uc18d\ub3c4(V)\ub294 \ud06c\uac8c \ubcc0\ud558\uc9c0 \uc54a\uace0, \uc2e4\uc9c8GDP(Y) \ub294 \ubcc0\ud558\uc9c0 \uc54a\uc73c\ub2c8
\n\ud1b5\ud654\ub7c9(M)\uc774 \uc99d\uac00\ud558\uba74, \ubb3c\uac00\uc218\uc900(P)\ub3c4 \uc62c\ub77c\uac04\ub2e4\ub294
\n\uc5b4\ub5bb\uac8c \ubcf4\uba74 \ub2e8\uc21c\ud55c \ub0b4\uc6a9\uc744 \uc99d\uba85\ud558\ub824\uba74 \uc774\ub807\uac8c\ub098 \ubcf5\uc7a1\ud55c \uacfc\uc815\uc774 \ud544\uc694\ud55c \uac83\uc778\uac00 \ubcf4\ub2e4.
\n\u203b \ubcf8 \ub0b4\uc6a9\uc740 \ud558\uc774\ud37c\uc778\ud50c\ub808\uc774\uc158 \uc0c1\ud669\uc5d0\uc11c\uc758 \ubb3c\uac00\uc218\uc900\/\ud1b5\ud654\ub7c9 \ud1b5\uacc4\uc790\ub8cc\ub97c \ubcf4\uba74 \ub354 \ud655\uc778\uc774 \uac00\ub2a5\ud558\ub2e4.<\/p>\n

\uc815\ubd80\ub294 \uc778\ud50c\ub808\uc774\uc158 \uc870\uc138(inflation tax) \ub97c \ud1b5\ud574 \uc138\uc785\uc744 \uc99d\uac00\uc2dc\ud0ac \uc218 \uc788\uc73c\uba70,
\n\uc774 \uacbd\uc6b0 \ud654\ud3d0\ub97c \uac00\uc9c4 \ubaa8\ub4e0 \uc0ac\ub78c\uc5d0\uac8c \ubd80\uacfc\ub418\ub294 \uc138\uae08\uacfc \uac19\ub2e4.
\n\ub610\ud55c \uc778\ud50c\ub808\uc774\uc158 \uc870\uc138\ub294 \ud558\uc774\ud37c\uc778\ud50c\ub808\uc774\uc158\uc744 \uac00\uc838\uc62c \uc218 \uc788\ub2e4.
\n\u25c6 \uc778\ud50c\ub808\uc774\uc158 \uc870\uc138(inflation tax) : \uc815\ubd80\uac00 \ud1b5\ud654 \uc99d\uac00 \ubc1c\ud589\uc744 \ud1b5\ud574 \uc870\ub2ec\ud558\ub294 \uc218\uc785
\n\u2605\u2605 \uc5b4\uca4c\uba74 \uc815\ubd80\uc758 \ud1b5\ud654\ub7c9 \uc815\ucc45\uc740 \ud604\uc7ac\uc2dc\ub300\uc5d0\ub3c4 \ub2e8\uae30\uc758 \ud63c\ub3c8\uc744 \uc774\uc6a9\ud558\ub294 \uac83\uc774\uc9c0\ub294 \uc54a\uc744\uae4c?
\n\uc7a5\uae30\uc758 \uc548\uc815\uacfc \ub2e8\uae30\uc758 \ud63c\ub3c8\uc744 \ubc18\ubcf5\ud558\uba70 \uc7a5\uae30\uc758 \uc548\uc815\uae30\uc5d0 \ub300\ud55c \ube44\uc6a9\uc744
\n\ub2e8\uae30\uc758 \ud63c\ub3c8\uae30\uc5d0 \uac1a\uc544\ub098\uac00\ub294 \ubc29\uc2dd\uc774\ub77c\uace0 \ud560\uae4c…<\/p>\n

\uba85\ubaa9\uc774\uc790\uc728(nominal interest rate)\uacfc \uc2e4\uc9c8\uc774\uc790\uc728(real interest rate)\uc758 \uacc4\uc0b0\uc740 \uc544\ub798\uc640 \uac19\ub2e4.
\n[ \uc2e4\uc9c8\uc774\uc790\uc728 = \uba85\ubaa9\uc774\uc790\uc728 – \uc778\ud50c\ub808\uc774\uc158\uc728 ]
\n[ \uba85\ubaa9\uc774\uc790\uc728 = \uc2e4\uc9c8\uc774\uc790\uc728 + \uc778\ud50c\ub808\uc774\uc158\uc728 ]
\n\uc6b0\uc120 \uc7a5\uae30\uc5d0\ub294 \ud654\ud3d0\uc758 \uc911\ub9bd\uc131\uc774 \uc131\ub9bd\ud558\ubbc0\ub85c \ud1b5\ud654\ub7c9\uc758 \uc99d\uac00\uc728\uc740 \uc2e4\uc9c8\uc774\uc790\uc728\uc5d0\ub294 \uc601\ud5a5\uc744 \ubbf8\uce58\uc9c0 \uc54a\ub294\ub2e4.
\n\uadf8\ub9ac\uace0 \uc911\uc559\uc740\ud589\uc774 \ud1b5\ud654\ub7c9\uc758 \uc99d\uac00\uc728\uc744 \ub192\uc774\uba74 \uc778\ud50c\ub808\uc774\uc158\uc728\uc774 \ub192\uc544\uc9c0\uace0 \uacb0\uad6d \uba85\ubaa9\uc774\uc790\uc728\ub3c4 \ub192\uc544\uc9c4\ub2e4.
\n\uc7a5\uae30\uc801 \uad00\uc810\uc5d0\uc11c \uc774\ub807\uac8c \uc778\ud50c\ub808\uc774\uc158\uc728\uc774 \ubcc0\ud558\uba74 \uba85\ubaa9\uc774\uc790\uc728\ub3c4 \uac19\uc740 \ud3ed\uc73c\ub85c \ubcc0\ud558\ub294 \ud604\uc0c1\uc744
\n\ud53c\uc154\ud6a8\uacfc(Fisher effect)\ub77c\uace0 \ud55c\ub2e4.
\n\ubcf4\ub2e4 \uc815\ud655\ud788 \ud45c\ud604\ud558\uba74 [ \uba85\ubaa9\uc774\uc790\uc728 = \uc2e4\uc9c8\uc774\uc790\uc728 + \uae30\ub300\uc778\ud50c\ub808\uc774\uc158 ] \uc73c\ub85c \ud45c\ud604\ud560 \uc218\ub3c4 \uc788\ub2e4.
\n\u25c6 \ud53c\uc154\ud6a8\uacfc(Fisher effect) : \uc778\ud50c\ub808\uc774\uc158\uc728\uc774 \ubcc0\ud558\uba74 \uba85\ubaa9\uc774\uc790\uc728\ub3c4 \uac19\uc740 \ucabd\uc73c\ub85c \ubcc0\ud558\ub294 \ud604\uc0c1
\n(\ucd5c\ucd08 \ubc1c\uacac\uc790\uc778 \ubbf8\uad6d \uacbd\uc81c\ud559\uc790 \uc5b4\ube59 \ud53c\uc154\uc758 \uc774\ub984\uc744 \ub530\uc11c \uc9c0\uc74c)<\/p>\n

\uc778\ud50c\ub808\uc774\uc158\uc740 \uad6c\ub450\ucc3d\ube44\uc6a9(shoeleather costs) \uc640 \uba54\ub274\ube44\uc6a9(menu costs) \uc744 \uac00\uc838\uc624\uba70,
\n\uc0c1\ub300\uac00\uaca9\uc758 \ubcc0\ud654\uc640 \uc790\uc6d0 \ubc30\ubd84\uc758 \uc65c\uace1\uc744 \uac00\uc838\uc624\uace0, \uc870\uc138 \uc65c\uace1\uc774 \ubc1c\uc0dd\ud558\uba70,
\n\uae30\ud0c0 \uc5ec\ub7ec\uac00\uc9c0 \uc0c1\ud669\uc5d0\uc11c \ud63c\ub780\uacfc \ubd88\ud3b8\uc744 \ucd08\ub798\ud55c\ub2e4.
\n\ub610\ud55c \uc778\ud50c\ub808\uc774\uc158\uc740 \ucc44\ubb34\uc790\uc640 \ucc44\uad8c\uc790\uc758 \ubd80\ub97c \uc7ac\ubd84\ubc30\ud55c\ub2e4.(\ube4c\ub9ac\uace0\/\ube4c\ub824\uc900 \ub3c8\uc758 \uac00\uce58\uac00 \ub2ec\ub77c\uc9c0\ubbc0\ub85c)
\n\u203b \uc5f0 10% \uc774\ub0b4\uc758 \uc644\ub9cc\ud55c \uc778\ud50c\ub808\uc774\uc158\uc758 \uacbd\uc6b0 \uc774\ub4e4 \ube44\uc6a9\uc774 \uc5bc\ub9c8\ub098 \ud070\uc9c0\ub294 \ud604\uc7ac\ub3c4 \ub17c\uc7c1\uac70\ub9ac\uc774\ub2e4.
\n\u25c6 \uad6c\ub450\ucc3d\ube44\uc6a9(shoeleather costs) : \uc778\ud50c\ub808\uc774\uc158\uc5d0 \uc9c1\uba74\ud55c \uacbd\uc81c\uc8fc\uccb4\ub4e4\uc774
\n\ud604\uae08 \ubcf4\uc720\ub97c \uc904\uc774\ub294 \uacfc\uc815\uc5d0\uc11c \ub0ad\ube44\ub418\ub294 \uc790\uc6d0
\n\u25c6 \uba54\ub274\ube44\uc6a9(menu costs) : \uac00\uaca9\uc744 \ubcc0\ub3d9\uc2dc\ud0a4\ub294 \ub370 \ub4dc\ub294 \ube44\uc6a9<\/p>\n

\ub514\ud50c\ub808\uc774\uc158\uc740 \uc778\ud50c\ub808\uc774\uc158\ubcf4\ub2e4 \ub354 \uc88b\uc9c0 \uc54a\uc740 \uacb0\uacfc\ub97c \uac00\uc838\uc628\ub2e4.
\n\ub514\ud50c\ub808\uc774\uc158\uc740 \ucc44\ubb34\uc790\ub85c\ubd80\ud130 \ucc44\uad8c\uc790\uc5d0\uac8c\ub85c \ubd80\ub97c \uc7ac\ubd84\ubc30\ud558\uba70, (\ucc44\uad8c\uc790\uac00 \ucc44\ubb34\uc790\ubcf4\ub2e4 \ubd80\uc790\uc778 \uacbd\uc6b0\uac00 \ub9ce\ub2e4.)
\n\ud1b5\ud654\ub7c9 \uac10\uc18c\uc5d0 \uc758\ud55c \ub514\ud50c\ub808\uc774\uc158\uc73c\ub85c \uc778\ud574 \uc804\ubc18\uc801\uc778 \uc218\uc694\uac00 \uac10\uc18c\ud558\uba74 \ubb3c\uac00\uc218\uc900\uc774 \ud558\ub77d\ud558\uace0,
\n\uc774\ub7ec\ud55c \ucd1d \uc218\uc694\uc758 \uac10\uc18c\ub294 \uc18c\ub4dd \uac10\uc18c\uc640 \uc2e4\uc5c5 \uc99d\uac00\ub85c \uc774\uc5b4\uc9c4\ub2e4.<\/p>\n

\uc911\uc559\uc740\ud589\uc774 \ud1b5\ud654\ub7c9 \uc99d\uac00\uc728\uc744 \ub0ae\ucd94\uba74 \uc778\ud50c\ub808\uc774\uc158\uc728\ub3c4 \ub0ae\uc544\uc9c0\uc9c0\ub9cc,
\n\uc0dd\uc0b0\uacfc \uace0\uc6a9\uc5d0 \ubd80\uc815\uc801\uc778 \uc601\ud5a5\uc744 \ub07c\uce58\uac8c \ub41c\ub2e4.
\n\uc7a5\uae30\uc801\uc73c\ub85c\ub294 \ud654\ud3d0\uc758 \uc911\ub9bd\uc131\uc774 \uc131\ub9bd\ud558\uc9c0\ub9cc
\n\ub2e8\uae30\uc801\uc73c\ub85c\ub294 \ud1b5\ud654\ub7c9\uc774 \uc2e4\uc9c8\ubcc0\uc218\uc5d0 \ub9c9\ub300\ud55c \uc601\ud5a5\uc744 \uc8fc\ub294 \uac83\uc774\ub2e4.<\/p>\n

[line][\/line]
\n\u2605 \ubcf8 \ud3ec\uc2a4\ud2b8\ub294 PC \uc5d0\uc11c \uac00\uc7a5 \ubcf4\uae30 \uc88b\uac8c \ucd5c\uc801\ud654\ub418\uc5b4 \uc788\uc74c
\n[mqe][\/mqe]<\/p>\n","protected":false},"excerpt":{"rendered":"

[mqe][\/mqe] [line][\/line] \ub9e8\ud050\uc758 \uacbd\uc81c\ud559 10\ubd80\ub294 \uc544\ub798\uacfc \uac19\uc774 \uc774\ub8e8\uc5b4\uc838 \uc788\uc73c\uba70, \ud1b5\ud654\uc81c\ub3c4\uac00 \ubb3c\uac00\uc218\uc900\uacfc \uc778\ud50c\ub808\uc774\uc158\uc728, \uae30\ud0c0 \uba85\ubaa9\ubcc0\uc218\uc758 \uacb0\uc815\uc5d0 \uc5b4\ub5bb\uac8c \uc601\ud5a5\uc744 \ub07c\uce58\ub294\uc9c0 \uc124\uba85\ud55c\ub2e4. \uc81c 10\ubd80. \ud654\ud3d0\uc640 \ubb3c\uac00\uc758 \uc7a5\uae30\uc801 \uad00\uacc4 \uc81c 29\uc7a5. \ud1b5\ud654\uc81c\ub3c4 \uc81c 30\uc7a5. \ud1b5\ud654\ub7c9 \uc99d\uac00\uc640 \uc778\ud50c\ub808\uc774\uc158 \u2605 \uc81c 29\uc7a5. \ud1b5\ud654\uc81c\ub3c4 \u2605 29\uc7a5 \ud1b5\ud654\uc81c\ub3c4 \uc5d0\uc11c\ub294 \uc911\uc559\uc740\ud589\uc774 \uc5b4\ub5bb\uac8c \ud1b5\ud654\ub7c9\uc744 \uc870\uc808\ud560 \uc218 \uc788\ub294\uc9c0\uc5d0 \ub300\ud574 \uc124\uba85\ud55c\ub2e4. \ud654\ud3d0(money)\uc758 \uae30\ub2a5\uc740 \uad50\ud658\uc758 \ub9e4\uac1c\uc218\ub2e8(medium of exchange), […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":""},"categories":[1907],"tags":[1898,1915,1937,119,1936],"jetpack_featured_media_url":"","views":"","jetpack-related-posts":[],"_links":{"self":[{"href":"http:\/\/hyunsik.me\/wordpress\/index.php?rest_route=\/wp\/v2\/posts\/7660"}],"collection":[{"href":"http:\/\/hyunsik.me\/wordpress\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/hyunsik.me\/wordpress\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/hyunsik.me\/wordpress\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/hyunsik.me\/wordpress\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7660"}],"version-history":[{"count":30,"href":"http:\/\/hyunsik.me\/wordpress\/index.php?rest_route=\/wp\/v2\/posts\/7660\/revisions"}],"predecessor-version":[{"id":14358,"href":"http:\/\/hyunsik.me\/wordpress\/index.php?rest_route=\/wp\/v2\/posts\/7660\/revisions\/14358"}],"wp:attachment":[{"href":"http:\/\/hyunsik.me\/wordpress\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7660"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/hyunsik.me\/wordpress\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7660"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/hyunsik.me\/wordpress\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7660"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}