通货紧缩

Firstly, corruption leads to distortion of income, which leads to deflation by extrusion of output. Secondly, the basic consumption is distorted by distortion of resource, which result in deflation. Thirdly, exit of money because that the wealth of corruptionist can not use their money with fair and square, so corruption also leads to deflation by reduction of money.

也将从另外三个方面直接导致通货紧缩：一是腐败的收入分配产生的"挤出"效应，从而导致通货紧缩；二是腐败的"资源扭曲"造成的资源配置错误或者扭曲，导致通货紧缩；三是腐败分子"偷偷地"在没有通知银行的情况下将货币"退出"流通领域减少货币供应量，从而引发了通货紧缩等。

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。

China"s deflation is a kind of "Compound deflation.

3中国目前的通货紧缩是一种"复合型"的通货紧缩。

But instead, the European monetary system imposes a deflationary bias by restricting fiscal space, while Germany has shown persistent recalcitrance toward expansionary policies and exports deflationary pressures.

与之相反，欧洲货币系统通过约束财政空间的方式给经济强加一个通货紧缩倾向，而德国经济总是表现为持续的反抗扩张政策，并输出通货紧缩压力。

Roosevelt believed in reflation rather than further deflation.

罗斯福相信通货再膨胀而不是更进一步的通货紧缩。

For example, the article "Time for a switch to global reflation," published in the Financial Times on 1 December 2002, argued that the PRC was exporting deflation.

例如，文章"扭转全球通货再膨胀之时机"，于2002年12月1日发表在《金融时报》，宣称中国正在输出通货紧缩。

Are there good deflations, bad deflations, or is deflation just a red flag that should make us more cautious?

是否存在好的通货紧缩，坏的通货膨胀，或者，通货紧缩只是一面将使我们更为谨慎的红旗子而已？

In the long run, deflation is more harmful than inflation, for the former may cause economic collapse in extreme cases. A comparative study of the past deflations in the U.S.

从长期来看，通货紧缩的危害性比通货膨胀更为严重，通货紧缩最坏的情况将导致经济崩溃。

In thelong run, deflation is more harmful than inflation, for the former may cause economic collapse in extreme cases. A comparative study of the past deflations in the U.

从长期来看，通货紧缩的危害性比通货膨胀更为严重，通货紧缩最坏的情况将导致经济崩溃。

Furthermore, the thesis analyzes in depth how deflation influences the related behaviors and conductive processes of the mechanism, studies how deflation influences the whole mechanism, and makes a theoretical and empirical study of deflations influence over the effectiveness of monetary policy. It concludes that deflation makes the mechanism checked and thus weakens the effectiveness of monetary policy.

然后，深入分析通货紧缩对货币政策利率传导机制各利益主体和诸环节的影响，研究了通货紧缩对整个传导机制的影响，并从理论分析和实证分析的角度研究了通货紧缩对货币政策效应的影响，得出了通货紧缩使中国货币政策利率传导机制阻滞从而削弱政策效果的结论。

In the negative and interrogative forms, of course, this is identical to the non-emphatic forms.

。但是，在否定句或疑问句里，这种带有"do"的方法表达的效果却没有什么强调的意思。

Go down on one's knees;kneel down

屈膝跪下。。。下跪祈祷