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This paper analyzes the state of effectiveness of the Japan"s monetary policy during deflation. The Japan"s monetary policy has stepped into liquidity trap. The "zero interest rate policy" cant increase investment and stimulate the economic growth.
本文分析了日本通货紧缩时期的货币政策的效力状况,日本货币政策已陷入流动性陷阱,零利率政策没有增加银行贷款和带动投资,最终刺激日本经济增长。
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Deflation has been paid close attentain to by academic circles and govern ment departments around the globe.On the basis of investigating the related literature of deflation at home and abroad,the auther of this paper puts emphasis on studying China"s deflation,including its cause of formation,mechanism of the formation and effectiveness of monetary policy during deflation by qualitative and quantitative analyses,positive and normative analyses,theoretical analysis and case confirmation;then points out the orientation of China"s monetary policy by raising the efficiency of monetary policy in the future and avoiding deflation.
本文在分析研究国内外在通货紧缩判断标准、形成机理、治理对策等方面研究方法及研究现状的基础上,采用实证分析与规范分析相结合,定性分析与定量分析相结合,理论概括与实践归纳相结合的方法,从多方位、多角度对产生中国目前通货紧缩的原因进行分析,从理论上梳理出中国目前通货紧缩形成的逻辑过程,并对通货紧缩时期货币政策的效果及未来货币政策的取向进行了深入分析和有效探索。
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Monetary policy target through using its economic data of different periods in the history, the paper further proves that Feds monetary policy target is effective in curbing inflation, avoiding deflation arising from monetary policy, and facilitating the economic growth.
最后,本文分析和论证美联储组织制度、监管体制和两级银行建制对中国人民银行组织制度改革以及中小金融机构管理建制的借鉴意义。
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Monetary easing--even unorthodox--is like pushing on a string when (1) the problems of the economy are of insolvency/credit rather than just illiquidity;(2) there is a global glut of capacity (housing, autos and consumer durables and massive excess capacity, because of years of overinvestment by China, Asia and other emerging markets), while strapped firms and households don't react to lower interest rates, as it takes years to work out this glut;(3) deflation keeps real policy rates high and rising while nominal policy rates are close to zero; and (4) high yield spreads are still 2,000 basis points relative to safe Treasuries in spite of zero policy rates.
因为目前存在四方面问题:(1)金融层面的问题不仅是流动性不足,还在于资不抵债;(2)由于中国、亚洲及其他新兴市场持续多年的过剩投资,在住房、汽车、耐用消费品等领域形成了庞大的全球性产能过剩;(3)尽管名义政策利率已接近零点,但通缩却使得实际政策利率居高不下,甚至继续上升;(4)尽管政策利率接近零点,但高风险的高收益证券与安全的美国国债之间的利差仍高达2000个基点。
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The related back-nurture demand includes:⑴compensation fee to eco-migrant caused by eco-recovery policy.⑵compensation fee to local inhabitants caused by eco-administer policy.⑶intergovernmental transfer payment caused by eco-recovery and eco-administer policies.⑷expenditure on eco-recovery and eco-administer.⑸defrayment from the beneficiary to the stakeholder caused by the environmental protection policy.
由此引发的反哺需求有五:一是由于实施"生态修复"而对生态移民的补偿;二是由于实施"生态治理"而对区域农民的补偿;三是地方政府实施生态修复、生态治理而发生的政府间专项转移支付;四是生态修复、生态治理财政专项费用;五是下游对上游、开发区域对保护区域、受益地区对受损地区、受益人群对受损人群以及自然保护区内外的利益补偿。
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To emerge from this situation the government took steps to expand domestic demand and turned determinately from a moderately contractive monetary and fiscal policy to an active fiscal policy and a steady monetary policy.
这两次成功的宏观调控,使我国既积累了有效抑制通货膨胀,实现"软着陆"的经验,又创造了扩大国内需求,有效治理通货紧缩的经验。
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This became a new factor obstructing economic growth. To emerge from this situation the government took steps to expand domestic demand and turned determinately from a moderately contractive monetary and fiscal policy to an active fiscal policy and a steady monetary policy. During 1998—2002 these policies were carried out with satisfactory results. Through the above two occasions of macro-economic adjustment and co-ordination, we accumulated useful experiences not only in combating inflation and in soft-landing, but also in acquiring a new understanding on how to expand domestic demand and deal with deflation.
以实现经济"软着陆"为主旨的1993-1996年的宏观调控,从整顿金融秩序入手,以适度从紧的货币政策为主,配合以相应的财政政策,辅之以必要的行政法律手段和组织措施,终于成功地避免了以往调控后出现的经济大起大落现象,在保持经济稳定增长的同时,有效地抑制了通货膨胀,实现了高增长、低通胀的"软着陆"目标。
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The main body of a book start with the macro-control significance , draw forth two modern economy policy fiscal policy and monetary policy of macro-control.
本文从宏观调控的意义入手,引出宏观调控的两大经济政策——财政政策与货币政策。
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Factor is not the same story in the economic, political and security field. Under the influence of the U.S. factor, the character of the EU\'s economic policy is the independence of the Europeanism; the character of the EU\'s security policy is the domination of the Atlanticism; the character of the EU\'s political policy is the specialty of the Europeanism.
通过对上述参数进行分析之后,笔者认为,美国因素对欧盟对华政策的影响并不是呈现为单一性特征:欧盟对华经济政策体现为欧洲主义的独立性;欧盟对华安全政策领域体现为大西洋主义的主导性;欧盟对华政治政策则体现为欧洲主义的独特性。
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Under the Three Shi Agreement the authorities of Yanbian strengthened Returning to Naturalized Policy.and took Devided License Policy, this time Tenant Policy disappeared .Alon g the setting of Man , land rent had been taken in all of the country. Abolishing of extraterritoriality in 1935 and land rent in 1936 disappeared completely.
以《三矢协定》为契机,延边地方当局强化了归化入籍政策,并针对佃民制度实行了"分劈执照"的政策,至此佃民制度开始消失,随着满洲国的建立土地商租权在满洲国的全面实施,进而在1935年治外法权的废除和 1 936年土地商租权的全面整理而完全消失。
- 相关中文对照歌词
- Policy Of Truth
- New Policy One
- 推荐网络例句
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On the other hand, the more important thing is because the urban housing is a kind of heterogeneity products.
另一方面,更重要的是由于城市住房是一种异质性产品。
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Climate histogram is the fall that collects place measure calm value, cent serves as cross axle for a few equal interval, the area that the frequency that the value appears according to place is accumulated and becomes will be determined inside each interval, discharge the graph that rise with post, also be called histogram.
气候直方图是将所收集的降水量测定值,分为几个相等的区间作为横轴,并将各区间内所测定值依所出现的次数累积而成的面积,用柱子排起来的图形,也叫做柱状图。
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You rap, you know we are not so good at rapping, huh?
你唱吧,你也知道我们并不那么擅长说唱,对吧?