韶关学院学报
韶關學院學報
소관학원학보
Journal of Shaoguan University(Social Science Edition)
2009年
8期
43~47
,共null页
电子货币 货币乘数 货币供给
電子貨幣 貨幣乘數 貨幣供給
전자화폐 화폐승수 화폐공급
electronic currency; currency multiplier; currency supply
电子货币使货币乘数变得更加复杂，增加了中央银行控制货币供给的难度；电子货币对广义货币乘数和狭义货币乘数都有放大作用，从而对货币供给起扩张作用；但是，电子货币对广义货币乘数和狭义货币乘数的影响不相同。对广义货币乘数的影响大于狭义货币乘数的影响。为此，中央银行应该实施多中介目标的货币政策以增强货币政策的有效性．严厉监控电子货币可能带来的流动性风险．做到防患于来然．
電子貨幣使貨幣乘數變得更加複雜，增加瞭中央銀行控製貨幣供給的難度；電子貨幣對廣義貨幣乘數和狹義貨幣乘數都有放大作用，從而對貨幣供給起擴張作用；但是，電子貨幣對廣義貨幣乘數和狹義貨幣乘數的影響不相同。對廣義貨幣乘數的影響大于狹義貨幣乘數的影響。為此，中央銀行應該實施多中介目標的貨幣政策以增彊貨幣政策的有效性．嚴厲鑑控電子貨幣可能帶來的流動性風險．做到防患于來然．
전자화폐사화폐승수변득경가복잡，증가료중앙은행공제화폐공급적난도；전자화폐대엄의화폐승수화협의화폐승수도유방대작용，종이대화폐공급기확장작용；단시，전자화폐대엄의화폐승수화협의화폐승수적영향불상동。대엄의화폐승수적영향대우협의화폐승수적영향。위차，중앙은행응해실시다중개목표적화폐정책이증강화폐정책적유효성．엄려감공전자화폐가능대래적류동성풍험．주도방환우래연．
This paper, which have given first place to theoretical analysis, and then have taken data demonstration as subsidiary method, have proven that： Electronic currency has made currency multiplier become especially complicated, so that it has become more difficulty for People＇s Bank of China to control the money supply; electronic currency play dilation role in money supply by enlarging broad currency multiplier and narrow curren- cy multiplier; but electronic currency hasn＇t same impact over broad money multiplier and narrow money multi- plier： give greater impact on broad one than narrow one. For this purpose, the People＇s Bank of China ought to put a monetary policy of mul-intermediary- target into practice so as to strengthen the monetary policy validity, severely monitor the liquidity risk that electron currency may bring about in order to prevent trouble before it happens.
