| Summary: | 碩士 === 銘傳大學 === 風險管理與保險學系碩士班 === 101 === From the Asia’s financial turmoil in 1997 to 2012, the United States had experienced two serious financial crises. The first one was the burst of ‘internet bubble’ in 2000. At that time, Taiwan''s economic growth rate had declined to negative 1.65%, the unemployment rate had surged to 4.57% and Taiwanese stock prices index had declined from 8,644 on January 4, 2000, to the bottom of 3,466 on October 3, 2001. The second woe was the subprime mortgage crisis of 2008. At that time, Taiwan''s economic growth rate had dropped to negative 1.81% in 2009, the unemployment rate had risen to 5.85% in 2009 and Taiwanese stock prices index had declined from 8,323 on January 2, 2008, to the bottom of 4,089 on November 20, 2008.
Because Taiwan is a small open economy, these two U.S. financial crises could not only influenced Taiwan’s economic activities but also affect Taiwan''s demand for money. Therefore, this paper will not only analyze their influences on Taiwan’s money demand function, but also compare their effects.
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