扩张性货币政策

欧洲央行（ECB）实施扩张性货币政策，也可以解决这一问题。欧洲央行成功地刺激了盈余国家的私人部门支出，同时也将德国的通胀水平推升至远高于欧元区平均水平的程度。

It might also be resolved by an expansionary monetary policy from the European Central Bank that successfully spurred private spending in the surplus countries and also raised German inflation well above the eurozone average .

从而使得扩张性货币政策能够通过信贷渠道顺利的传导的实体经济。

So the expansionary monetary policy can have an effect on the real economy .

文章利用描述实际GDP增长率波动成分的各种GARCH模型检验发现，在我国经济运行当中，紧缩性货币政策对于经济的减速作用大于扩张性货币政策对于经济的加速作用。

By detrending the time series and using the GARCH model with asymmetry , we find out in China that tight monetary policy slow the economy in the boom more than easy monetary policy accelerates the economy in the recession .

这一现象在扩张性货币政策下比在紧缩性货币政策下表现得更为严重。

This phenomenon is more serious in the expansionary monetary policy than in the constrictive monetary policy .

1999年围绕日本银行的货币政策进行过五次大争论。这五次争论依次是：一、日本银行是否应采取进一步的扩张性货币政策。

There were five controversies over the monetary policy of Bank of Japan in 1999 in Japan .

就经济理论而言，通货紧缩时期应实行扩张性货币政策。

According to economic theories , in the deflation period , easy monetary policy should be carried out .

尽管存在一些没有根据的说法，但量化宽松及其他形式的扩张性货币政策并非汇率操纵。

Despite some unjustified claims , quantitative easing and other forms of expansionary monetary policy are not currency manipulation .

所以，高油价至少在一定程度上是美国扩张性货币政策所造成的。

High oil prices are therefore at least partially a consequence of an expansionary monetary policy in the US .

当政府印刷钞票、然后用其换取债券时，我们称之为扩张性货币政策。

When the government prints up cash and swaps it out for bonds , we call that expansionary monetary policy .

这种监管想要抵消扩张性货币政策带来的强大的信贷创造动机，几乎是不可能的。

It is almost impossible for such regulation to offset the powerful incentives for credit creation produced by expansionary monetary policies .

在需求匮乏的时代，储备货币的发行国实施扩张性货币政策，而非发行国则以干预汇率作为回应。

In an era of deficient demand , issuers of reserve currencies adopt monetary expansion and non-issuers respond with currency intervention .

日本的牛市发生在1970年代和1980年代，得到扩张性货币政策（目前在中国大行其道的就是这样的政策）的支撑。

Its bull market came in the 1970s and 1980s , buoyed by expansive monetary policy ( as now in vogue in China ) .

近年来我国的扩张性货币政策未能收到明显效果的原因在于，我国的通货紧缩本身是一个经济问题，而不是一个货币问题。

Recent years , the reason that our expansive monetary Policy can 't achieves distinct effects is that the deflation is an economic issue not a monetary issue .

货币政策的不对称效应既体现为紧缩性与扩张性货币政策的效果不同，也体现为货币政策在不同地区的影响力度、时滞和持续时间的差异。

The asymmetric effect of monetary policy is manifested both as the different effect of tight and easy monetary policy and the different regional impact of monetary policy .

然后针对金融危机背景下我国实施的扩张性货币政策，通过弹性分析方法，比较分析了在特殊背景下不同货币政策工具的效应。

Then in the background of the financial crisis , this chapter makes a comparative analysis in the effects of different monetary policy instruments with the approach of elastic analysis .

机理分析表明：扩张性货币政策对我国东部地区的影响较大，而紧缩性货币政策中各因素的影响效果不尽相同。

The analysis of mechanisms shows that the eastern region in China is more sensitive to expansive monetary policy , but different factors cause different effects in tight monetary policy .

货币政策实践也发现，紧缩性货币政策能够有效地抑制经济过热，而扩张性货币政策在治理经济衰退中却显得无能为力。

When carrying out monetary policy we also find out the contractive monetary policy can effectively keep down economic overheat , but expansionary monetary policy has no effect on controlling economic declining .

本文认为，经济增长、扩张性货币政策和政府意愿三者的合力是股指运行形成偏向性特征的主要原因，而跳跃性特征的形成则与自然法则及投资人的心理活动有关。

The article considers the bias caused by the joint force from economy growth , expanded monetary policy and government aspiration , and yet the bound connected with nature rules and investors ' mentality .

当投资具有规模经济效应或可以使劳动生产率显著提高时，扩张性货币政策的长期结果是股价的上升和物价水平的下降。

When the investment is characterized by scale effects and makes labor productivity increase notably , the long-term outcome of expansionary monetary policy is that the stock price increases while the commodity price decreases .

短期来看，决策者致力于财政刺激及扩张性货币政策混用，尽快结束经济衰退，防止通货膨胀变成通货紧缩。

In the short term , policymakers are committed to using a mixture of fiscal stimulus and aggressive monetary policy to hasten the end of the recession and prevent inflation from turning into deflation .

导致这种结果的原因是通货紧缩时期扩张性货币政策的局限性，即通货紧缩时期，经济主体的预期和行为，使利率传导渠道失效；

This fact is contributed to the limitations of the easy monetary policy in the deflation period , which lie in ( 1 ) that the public expectations caused interest rate channel to be invalid ;

随着痛苦的存货消化期的结束，全球经济复苏的希望将有赖于超强的扩张性货币政策、大规模财政刺激、银行纾困以及大宗商品价格的下跌。

Along with the end of a painful stock cycle , hopes for a recovery in the world economy rest on an extraordinarily expansionary monetary policy , big fiscal stimuluses , bank bail-outs and lower commodity prices .

内生性较强的货币经济中央行无法准确控制货币量，因此以货币供应量为中间目标的扩张性货币政策在治理通货紧缩时效果不好。

In the endogenous money economy , the Central Bank cannot control the amount of money accurately , therefore , the expansive monetary policy with the amount of money as the mid-target is not efficient in the solution of monetary deflation .

在中外货币政策的实践中，人们发现相同力度的扩张性货币政策和紧缩性货币政策对于实体经济的冲击力度存在差异。

In the practice of Chinese and foreign monetary policy , it has been found that there is a big difference between the effect on the real economy of expansionary monetary policy and that of tight monetary policy with the same intensity .

在粘性价格时，扩张性货币政策在短期刺激了投资活动，使资本存量出现了长期的增长，从而带动了长期的生产和消费，最终大大加剧了扩张性货币政策的福利效果。

Under sticky price unanticipated monetary expansion will stimulate the investment in the short run and increase the capital stock in the long run , then bring along production and consumption and markedly magnify welfare effects of the expansive monetary policy at last .

货币政策对金融资产价格（特别是股票价格）有影响，当投资的上升引起原材料和劳动力价格上涨时，扩张性货币政策的长期结果是同时引起商品物价水平和股票价格的上升；

Monetary policy has influence upon financial assets price , especially upon stock price . When the expansion of investment causes raw material and labor price increasing , the long-term outcome of expansionary monetary policy is that both commodity price and stock price increase .

凯恩斯解决有效需求不足的办法是加强政府干预，实行赤字财政和扩张性货币政策来刺激消费，增加投资，从而实现充分就业。

In Keynes 's theory , the way to solve the insufficiency of effective demand is to strengthen the government interference , carry out the policies of deficit finance and monitory dilation to stimulate consumption , and increase investment so as to realize full employment .

扩张性的货币政策只得基本上以这种方式在某些地方发挥作用。

An expansionary monetary policy has to work in much this way , somewhere .

因此在政策搭配上，本文建议使用扩张性的货币政策与稳健的财政政策进行搭配来解决内外失衡问题。

So , expansionary monetary policy and moderate fiscal policy is a nice arrangement to deal with the both internal and external imbalance in China .

货币经济学的一个基本观点就是，紧缩的货币政策能够降低通货膨胀，而扩张性的货币政策能够导致通货膨胀。

One of the essential arguments in monetary economics is that a constrictive monetary policy can certainly reduce inflation and an expansionary one must induce deflation .