<Tr> <Td> n = 2 (\ displaystyle n = 2 \;) </Td> <Td> D 2 = (1 − α − β − γ) 2 (\ displaystyle D_ (2) = \ left (1 - \ alpha - \ beta - \ gamma \ right) ^ (2)) </Td> <Td> L 2 = (1 − α − β) (1 − α − β − γ) (\ displaystyle L_ (2) = \ left (1 - \ alpha - \ beta \ right) \ left (1 - \ alpha - \ beta - \ gamma \ right)) </Td> <Td> P H M 2 = γ (1 − α − β − γ) (\ displaystyle PHM_ (2) = \ gamma \ left (1 - \ alpha - \ beta - \ gamma \ right)) </Td> </Tr> <Tr> <Td> n = 3 (\ displaystyle n = 3 \;) </Td> <Td> D 3 = (1 − α − β − γ) 3 (\ displaystyle D_ (3) = \ left (1 - \ alpha - \ beta - \ gamma \ right) ^ (3)) </Td> <Td> L 3 = (1 − α − β) (1 − α − β − γ) 2 (\ displaystyle L_ (3) = \ left (1 - \ alpha - \ beta \ right) \ left (1 - \ alpha - \ beta - \ gamma \ right) ^ (2)) </Td> <Td> P H M 3 = γ (1 − α − β − γ) 2 (\ displaystyle PHM_ (3) = \ gamma \ left (1 - \ alpha - \ beta - \ gamma \ right) ^ (2)) </Td> </Tr> <Tr> <Td>... </Td> <Td>... </Td> <Td>... </Td> <Td>... </Td> </Tr> <Tr> <Td> n = k (\ displaystyle n = k \;) </Td> <Td> D k = (1 − α − β − γ) k (\ displaystyle D_ (k) = \ left (1 - \ alpha - \ beta - \ gamma \ right) ^ (k)) </Td> <Td> L k = (1 − α − β) (1 − α − β − γ) k − 1 (\ displaystyle L_ (k) = \ left (1 - \ alpha - \ beta \ right) \ left (1 - \ alpha - \ beta - \ gamma \ right) ^ (k - 1)) </Td> <Td> P H M k = γ (1 − α − β − γ) k − 1 (\ displaystyle PHM_ (k) = \ gamma \ left (1 - \ alpha - \ beta - \ gamma \ right) ^ (k - 1)) </Td> </Tr>

The higher the reserve requirement the lower is the monetary multiplier