货币乘数效应

考虑到货币乘数效应的作用，其政策预期效果应该很明显，但实际上近年我国通货膨胀压力仍然较大。

Taking into account the role of the monetary multiplier effect , the expected effects of its policy should be very obvious , but in fact in recent years , Chinas inflationary pressure is still larger .

其中主要从货币的乘数效应、传统通货膨胀理论及新货币经济学方面分析其冲击金融市场的可能性。

This part is mainly to analyze the possibility that virtual currencies can do impingement to financial market using multiplier effect , inflation theory and exchange mechanism .

电子货币的货币乘数效应：基于中国的实证分析

The Monetary Multiplier Effect of Electronic Money : Based on the Experimental Analysis of China

实证结果表明，电子货币对货币乘数具有放大效应，增强了货币乘数的内生性，加大了中央银行控制货币供给的难度，从而降低了货币政策的有效性。

The experimental analysis shows that electronic money has higher monetary multiplier effects , enhances the endogenesis of money multiplier , increase the difficulty for central banks to control money supply , and thereby decrease the effectiveness of monetary policy .

作为整个银行体系创造货币源泉的基础货币，是整个货币政策传导过程的起点，它通过货币乘数效应影响货币供给，对宏国民经济的作用举足轻重。

As the entire banking system to create money the source of the base currency is the starting point of the monetary policy transmission process , which affect the money supply through the money multiplier effect macro national economy plays an important role .