因此，货币供给通过预期而实现通胀。
Hence, monetary growth is becoming inflation through expectation.
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.
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.
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.
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.
货币乘数是以单位高能货币的增加爱导致的货币供给的增加。
The money multiplier is the increase in the supply of money resulting from the increase of a unit of high powered money.
通过公开市场运作等工具，美联储直接控制货币供给的数量。
Through instruments such as open-market operations, the Fed directly controls the quantity of money supplied.
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.
银行的信贷在货币供给中占据重要地位，影响中央银行的调控效果。
Credit supply is the most important channel in supply of money, which affects the control of central bank.
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.
1933年至1937年，货币供给增加，通货紧缩局面得到了改观。
From 1933 to 1937, the money supply rose, stopping the 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.
货币供给的较小导致LM曲线向左平移，从而均衡利率上升，均衡产出下降。
The fall in money supply leads to a left-ward shift in the LM curve, and an increase in the equilibrium interest rate and a decrease in equilibrium output.
图1：减缓人民币供给增长(2008年末货币供给增加导致中国当前的高通胀率)。
Figure 1: Slowing Chinese money supply growth (the increase in late 2008 led to China's current high inflation rates).
货币供给究竟是内生的还是外生的，这是货币金融领域始终争论不休的问题。
Whether money supply actually is endogenous or exogenous is always an endless debatable problem in the financial field.
事实上，美国和法国通过变卖跟黄金挂钩的储备货币而减少的货币供给超出了必要的范围。
Indeed, America and France shrank their money supplies by more than was strictly necessary by liquidating gold-backed currencies from their reserves.
和大多数央行管控的经济体一样，单靠调控利率，而不同时控制货币供给，将会收效甚微。
Manipulating the interest rate alone, without -as happens in most central-bank-run economies -simultaneously changing the money supply will usually have little effect.
而且按照货币主义的观点，这是流动性需求增长的问题，不可能通过增加货币供给来解决。
From a monetarist perspective the problem is an increased demand for liquidity, which is unlikely to be met by an increase in the supply of money.
去年12月，广义货币供给在欧元区同比下降了0.2%，在美国也不过增长了3.4%。
In the year to December, the broad measure of money supply fell by 0.2% in the euro zone and grew by just 3.4% in America.
在1987-1988和1993-1994的阶段性通胀之前，货币供给都有大幅增长。
Monetary growth surged before both bouts ofinflation in 1987-88 and 1993-94.
在1987-1988和1993-1994的阶段性通胀之前，货币供给都有大幅增长。
Monetary growth surged before both bouts ofinflation in 1987-88 and 1993-94.
应用推荐