This paper makes an analysis of the multiple magnification effect of the initial impact on macro economic variables on the premise of fast capital flow.
本文分析了在资本高度流动的前提下，初始冲击对宏观经济变量有多倍的放大效应。
Our study indicates that the impact of interest rate adjustment upon output, prices and other macro-economic variables is not direct or obvious, but that they have different lag effects.
研究表明：利率调整对于产量、物价等宏观经济变量的影响并不直接和明显，存在不同的时滞效应。
Our study indicates that the impact of interest rate adjustment upon output, prices and other macro-economic variables is not direct or obvious, but that they have different lag effects.
研究表明：利率调整对于产量、物价等宏观经济变量的影响并不直接和明显，存在不同的时滞效应。
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