紧缩通货

Fiscal policy ; monetary policy ; insufficient effective demand ; deflation ; systematic shrinking ; policy expansion

财政政策；货币政策；有效需求不足；通货紧缩；体制性收缩；政策性扩张

In the paper the monetary policy ineffectiveness proposition can"t repudiate the effectiveness of the China"s monetary policy under deflation because of the imperfect markets and the information asymmetry.

本文认为，由于市场的非完全性、信息的不对称性，货币政策无效命题否定不了通货紧缩下我国货币政策的效力。

Through differentlunwen114 types of functions and budget policy flawed, for the deflation of our budget policy, paving the way to provide choice, and then in the analysis of the specific constraints of our budget policy choices on the basis of many factors that made our country should choose the appropriate budget Policy, the final budget for the understanding of how to make a number of policy views.

本文通过对不同类型预算政策的功能和缺陷的，为通货紧缩下的我国预算政策的选择提供铺垫，然后在具体分析制约我国预算政策选择的诸多因素的基础上，提出我国应选择的合适的预算政策，最后对如何理解预算政策提出几点看法。

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。

Especially, since 1997, the central bank has adopted series of active monetary policy to control deflation, increase investment and consumption in order to make macro economy prosperous.

特别是自1997年以来，为了抑制通货紧缩、启动投资和消费，使宏观经济运行尽快进入景气状态，中央银行实施了积极的货币政策，如连续八次降低存款准备金率、灵活出台窗口指导政策、扩大再贴现和中央银行再贷款规模等。

September 15, Lehman Brothers filed for bankruptcy protection, sub-loan crisis of mutation into a financial tsunami, inflation may be reversed to deflation, the monetary policy shift, therefore, capital growth has become top priority.

9月15日，雷曼兄弟申请破产保护，次贷危机突变成金融海啸，通货膨胀可能逆转为通货紧缩，货币政策因此转向，保增长成为首要任务。

The goal of anti deflation can not be reached by unilaterally expanding money circulation,but should be based on the adjustment of monetary structure.Curing deflation by inflationary policy may cause stagflation Salary increase to civil servants can not bring up the income of...

作者的结论是："积极的财政政策"、"适当的货币政策"，这样的概括和称谓不科学；反通货紧缩用货币量的单纯扩张不能解决问题，重点应当放在调整货币分布结构上；"搞点通货膨胀"的政策建议不可取，用通胀治通缩的结果很可能是滞胀；公职人员加薪不能带动其他社会成员增收，其它社会群体增加收入要从他们所处的现实经济关系中去寻找。

The orientation of Chinas policy of raising the efficiency of monetary policy and removing deflation is:(1) To reconstruct transmission channel of monetary policy;(2) To continue in carrying out positive monetary policy;(3) To well co-ordinate financial policy and monetary policy;(4) To carrv forward micro-mechanism reform safely.

6提高货币政策效率，走出通货紧缩困境的措施是：①输通货币政策传导渠道；②继续实行积极的货币政策：③财政政策与货币政策协调配合；④稳妥有序地推进微观机制改造。

In Japan, following the collapse of the bubbles, the government reduces the rate forwardly, then the economy fall into the state of low inflation rate and low interest rate. Being afraid of inflation, the Bank of Japan is reluctant to further relax the monetary policy leading to the economy reviving very crisp. Under the external impact, the economy fall into the deflation, and the rate policy loses its effectiveness.

日本则是在泡沫经济崩溃后，政府为了促进经济增长，主动降低利率，进而使经济进入了低通胀低利率状态，但由于日本央行害怕通货膨胀，不愿意进一步放松货币政策，导致日本经济的复苏非常脆弱，在外部经济的冲击下，经济进入了通货紧缩状态，利率政策失效。

That is the kind of thing that leads to deflation

这就是有关通货紧缩的情况

As she looked at Warrington's manly face, and dark, melancholy eyes, she had settled in her mind that he must have been the victim of an unhappy attachment.

每逢看到沃林顿那刚毅的脸，那乌黑、忧郁的眼睛，她便会相信，他一定作过不幸的爱情的受害者。

Maybe they'll disappear into a pothole.

也许他们将在壶穴里消失