过剩货币

如果人们认为政府无力偿还为冲销过剩货币而出售的债务，那么这一结果也可能出现。

This may also happen if the debt sold in efforts to sterilise the monetary overhang is deemed beyond the government 's ability to service .

我国应对流动性过剩的货币政策问题研究

The Study of Monetary Policy Aiming at Solving the Excess Liquidity of Our Country

经济虚拟化、流动性过剩与货币政策困境&基于虚拟经济独立性特征的研究

Economic Virtualization , Mobility and Currency Policy Difficulty & Research Based on Virtual Economy Particularity

目前，黄金野蛮人正在使劲敲打美国央行官员们的大门，宣称美元是过去流动性过剩和宽松货币政策的牺牲品。

Gold barbarians are among those now banging at the US central bankers ' gate , pronouncing the dollar a victim of past excess liquidity and easy money .

为应对危机，以美国为首的世界主要经济体相继出台流动性宽松政策，却埋下了全球流动性过剩、信用货币全面贬值的隐患。

The US-led economies around the world have put forward liquidity slack policies in order to tackle the crisis . However , these policies have become potential threats such as global liquidity surplus and devaluation of credit currency .

储蓄过剩降低了货币的流动性，削弱了货币政策对产出的影响，使经济增长更加依赖财政赤字和进出口贸易，也使贸易政策和财政政策面临两难选择。

Savings surplus has slowed down the liquidity of money and decreased the monetary policy 's influence on output , which makes economic growth depend more on fiscal deficit and trade of export and import . It also makes trade policy and fiscal policy face dilemma .

就目前而言，中国仍然存在大量所谓的过剩流动性，货币供应指标M2的增长速度仍快于总体经济增速。

As things stand , so-called excess liquidity remains abundant as the M2 measure of money supply is still growing at a faster pace than the economy .

所以，流动性过剩，也即货币超发是导致通货膨胀的必要条件，而货币政策是对流动性最直接有效的控制手段。

Therefore , the excessive mobility that is super-currency is a requirement for the inflation while monetary policy is the most direct and effective means of control .

欧洲银行业也呈现合并的趋势。随着管制的解除，生产能力过剩以及单一欧洲货币的实行，这种趋势更是加速发展。

European banking sector is also seeing a trend towards consolidation , a process accelerated by deregulation , over-capacity and the arrival of the single European currency .

因此，本文认为高额的外汇储备会使我国出现流动性过剩的结果，货币供应量超出了实体经济的需求从而增加了通货膨胀的压力。

Therefore , this paper argues that the high foreign exchange reserve can make the result of excess liquidity in our country . And due to the money supply exceeding the need of the real economy , the pressure on inflation is bigger .

这笔交易产生了全球最大，拥有2900万客户的移动通讯公司：沃达丰空中通讯集团公司。欧洲银行业也呈现合并的趋势。随着管制的解除，生产能力过剩以及单一欧洲货币的实行，这种趋势更是加速发展。

The deal created Vodafone AirTorch , the world 's largest mobile telecoms group with over 29m customers.the European banking sector is also seeing a trend towards consolidation , a process accelerated by deregulation , over-capacity and the arrival of the single European currency .