In effect, Bitcoin has created its own private gold standard world, in which the money supply is fixed rather than subject to increase via the printing press.
实际上，比特币已经创立了自己的私人金本位世界，其中货币供应是固定的，不受货币印刷量增加的影响。
In the modern world, we often take a shortcut and just assume that the central bank adjusts the money supply so as to achieve a target interest rate, in effect choosing a point on the IS curve.
在现代社会，我们通常为了简便而假设，央行为了达到一个目标利率而调整货币供给，实际上就是在IS曲线上选择一个点。
Manipulating the interest rate alone, without -as happens in most central-bank-run economies -simultaneously changing the money supply will usually have little effect.
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。
Some of that money gets spent again and again, producing the multiplier effect of any increase in the money supply.
其中一部分的钱用了又用，形成各项货币供应的倍加效益。
On the contrary, the capital flow has an expanding effect on the domestic money supply, which increase the price level.
相反，资本流入对国内货币供应量有扩张效应，使价格总水平上升。
The empirical results indicate that money supply has a significant effect on stock price fluctuations, but consumer price index (CPI) only has a limited effect.
实证结果显示货币供应量对股市波动影响显著，居民消费价格指数对股市脉冲作用有限。
If the Central Bank were to buy bonds, the effect would be to expand the money supply and hence lower interest rates, the opposite is true if bonds are sold.
如果央行意欲购进国债，表明其打算扩大货币供应量并降低利率，而反之则售出债券。
If the Central Bank were to buy bonds, the effect would be to expand the money supply and hence lower interest rates, the opposite is true if bonds are sold.
如果央行意欲购进国债，表明其打算扩大货币供应量并降低利率，而反之则售出债券。
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