货币供给的变化影响经济活动水平和利率。
Changes in the money supply affect the level of economic activity and the interest rate.
当黄金储备紧缩，也有了货币供给。
因此，货币供给通过预期而实现通胀。
Hence, monetary growth is becoming inflation through expectation.
货币供给的增长也温和得多。
The growth in money supply has been less excessive this time.
货币供给速度较发达国家增长了近三倍。
Money supplies are growing almost three times as fast as in the developed world.
更高的货币供给增长总是带来同样的后果。
Higher money supply growth would have the same effect as always.
当周转率稳定时，联储应当保持货币供给的稳定。
When velocity is stable, the Fed should keep money growth steady.
该国货币供给在到二月份截止的年度里成长了35%。
为了控制通货膨胀，你必须控制货币供给。
但是货币供给对通胀的影响并不像货币主义者认为的那样。
But the role of the money supply in creating inflation is less obvious than monetarism suggests.
如今的法定货币意味着货币供给并不受黄金储备量的限制。
Modern-day fiat currencies mean that money supply is not restricted by the stock of gold.
银行可以影响经济中活期储蓄的数量和货币供给。
Banks can influence the quantity of demand deposits in the economy and the money supply.
货币供给收紧必将最终来临，但现在的数据显示这么做还早。
Monetary supply tightening will have to happen eventually, but this data makes clear that doing so in the near-term would be premature.
当银行从其准备金中发放贷款时，货币供给增加了。
When a bank makes a loan from its reserves, the money supply increases.
尽管如此，卢卡斯指出，货币供给正在增长之中，而不是收缩。
That bolsters the QE case. Still, the money supply is growing, not shrinking, Mr. Lucas notes.
同样，如果央行出手干预，卖出泰铢买入美金也会增加货币供给。
Similarly, central-bank intervention to hold the baht down by buying dollars would also boost the money supply.
货币中性：认为货币供给变动并不影响真实变量的观点。
Monetary neutrality is the proposition that changes in the money supply do not affect real variables.
就像以前常常做的那样，他会对货币供给的“不稳定波动”发出警告。
He would warn, as he often did, about "erratic swings" in the money supply.
在职业生涯中，他曾多次表示，联储应让货币供给以稳定的速度增长。
For much of his career he said the Fed should let the money supply grow at a fixed rate.
首先，是分析宏观货币环境：即分析货币供给、官方利率和信贷价格。
The first has to do with overall monetary conditions: money supply, official interest rates and the price of credit.
结果，实际货币供给继续下降，相应曲线左移至MS75。
As a result , the supply of real money continued to decline to MS75.
第三，在大部分国家建造外汇储备并没有大幅推高货币供给和通货膨胀。
Third, in most countries the build-up of foreign-exchange reserves has not hugely pushed up the growth of money and inflation.
他们无法理解，为什么德国人在银行提高货币供给近两年之后突然行为大变。
They could not fathom why the German people had started to behave differently almost two years after the bank had already boosted the money supply.
他会了解货币供给的增长，尽管他和他的信徒总是为采取哪种方式衡量而伤神。
He would look at the growth of the money supply, though he and his followers always had trouble identifying which measure was the right one.
货币供给和实际产出可能因不同的经济背景而呈现不同的关系模式。
The relationship between currency supply and actual output may present differently under different economic background.
只要联储局的行为是在回应这一需求，那么货币供给的增加并不带有通货膨胀性。
As long as the Fed is responding to demand, an increase in the money supply is not inflationary.
多年以前我曾以一种完全价格弹性和固定货币供给的假想世界模型对此做过解释。
Many years ago I tried to explain this by considering a hypothetical world of perfectly flexible prices and a fixed money supply.
至少，货币主义者还建议削减利率及提高货币供给而凯恩斯主义者支持扩大赤字。
At least the monetarists propose cutting rates and expanding the money supply and the Keynesians promote deficit spending.
尽管如此，通过节流货币供给，日本不仅避免了通胀，甚至还经历了一定程度的通缩。
Nevertheless, by reining in its money supply, Japan has not only avoided inflation but has actually experienced deflation.
尽管如此，通过节流货币供给，日本不仅避免了通胀，甚至还经历了一定程度的通缩。
Nevertheless, by reining in its money supply, Japan has not only avoided inflation but has actually experienced deflation.
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