资源错配
- 网络misallocation of resources
资源错配-
弗里德里希哈耶克（FriedrichHayek）指出，上世纪20年代就出现过这种情况。其结果是资源错配，并导致问题信贷爆炸性增长。
This , argued Friedrich Hayek , also happened in the 1920s . The result is misallocation of resources . It also generates explosive growth of unsound credit .
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央行票据的微观财务成本主要体现在利息支付和损失的外汇投资收益上，宏观经济成本主要体现在对贷款资金的挤出导致的资源错配和沉淀大量资金有损宏观经济运行效率两方面。
Micro-financial costs of central bank bills is mainly reflected in interest payments and losses on foreign investment income , while macroeconomic costs primarily reflected on the loss of macro-economic operating efficiency due to precipitated a lot of money .