The impact of inflation on virtual currency
Publish: 2021-05-18 16:18:48
1. The popularity of credit currency is an impact on the low level of currency issuance of the central bank, so the central bank will not sit idly by the large-scale development of Q currency. Naturally, the best way to deal with it is to determine the rights and obligations of game companies through legislation, increase their supervision, and ensure the monetary development rights of the central bank.
2. Hehe; virtual currency earned from the game, & quot& quot; If it is traded into RMB, is the demand for RMB increasing& quot; Yes, that's exactly right.
& quot; And the real money supply can not meet the money demand. Will it cause deflation? But most of the statements about the impact of virtual currency on reality say that it will cause inflation. Why do you say that& quot;
the key lies in the liquidity of virtual currency. If the virtual currency itself can be accepted and circulated in the market like RMB, then issuing virtual currency is equivalent to issuing RMB, and the issuance of virtual currency is very random. If a large number of virtual currencies are issued in the game, there is the possibility of inflation in theory.
but in fact, this situation is very difficult to achieve The essence of unreliability determines that it is difficult for RBM to achieve its acceptance and circulation; Second, the issuance of virtual currency is actually a hedge against the game's demand for RMB. Therefore, the government's restrictions on the use of virtual currency are just a precautionary measure.
& quot; And the real money supply can not meet the money demand. Will it cause deflation? But most of the statements about the impact of virtual currency on reality say that it will cause inflation. Why do you say that& quot;
the key lies in the liquidity of virtual currency. If the virtual currency itself can be accepted and circulated in the market like RMB, then issuing virtual currency is equivalent to issuing RMB, and the issuance of virtual currency is very random. If a large number of virtual currencies are issued in the game, there is the possibility of inflation in theory.
but in fact, this situation is very difficult to achieve The essence of unreliability determines that it is difficult for RBM to achieve its acceptance and circulation; Second, the issuance of virtual currency is actually a hedge against the game's demand for RMB. Therefore, the government's restrictions on the use of virtual currency are just a precautionary measure.
3. 1. It's stipulated that operators can't convert game currency into RMB
2. Specifically, whether the equipment is suitable or the materials are suitable, you should be very clear that you are playing this game, and you should know what is more valuable
2. Specifically, whether the equipment is suitable or the materials are suitable, you should be very clear that you are playing this game, and you should know what is more valuable
4. At present, there are many kinds of "currencies" on the Internet. Tencent's "Q currency", Shanda's "Yuanbao", Paradise currency, Warcraft currency and so on have become hot "currencies" on the Internet
experts believe that if network operators are allowed to issue unlimited virtual currencies that can be exchanged with RMB, it is likely to replace RMB as the general equivalent of some online transactions. Once such disorderly transactions are rampant, it is bound to impact the market position of RMB and destroy China's financial order
from the point of view of behavioral economics, as a general equivalent, the "price" of "equal" in money is called value in language, but it actually refers to utility. Virtual currency does not represent the "effect" of general "price", but the value itself. Therefore, under the intervention of market and policy, the virtual money instry still has the characteristics of market supply and demand of deflation and inflation
will run into the mortal enemy of human economy, & quot; Inflation & quot;
experts believe that if network operators are allowed to issue unlimited virtual currencies that can be exchanged with RMB, it is likely to replace RMB as the general equivalent of some online transactions. Once such disorderly transactions are rampant, it is bound to impact the market position of RMB and destroy China's financial order
from the point of view of behavioral economics, as a general equivalent, the "price" of "equal" in money is called value in language, but it actually refers to utility. Virtual currency does not represent the "effect" of general "price", but the value itself. Therefore, under the intervention of market and policy, the virtual money instry still has the characteristics of market supply and demand of deflation and inflation
will run into the mortal enemy of human economy, & quot; Inflation & quot;
5.
When we learn about finance, we will often hear the word inflation. What impact does it have on us? Its existence will cause some phenomena, such as rising prices and devaluation, which will have a certain impact on the country and bring more frustrations to people's lives. Let's think about it, Why does it affect the trend of bitcoin
Therefore, the emergence of inflation also helps the trend of bitcoin and helps its growth. Therefore, it shows that inflation promotes the growth of bitcoin. They are interrelated and help each other. So the main reason that affects bitcoin is the impact of inflation, which makes its existence more important, So many people use him as an important tool to resist this phenomenon. For him, then it will become better and better, more and more fierce6.
The impact of inflation on currency ratio can be analyzed from two aspects, that is, the impact on the ratio of paper currency and metal currency:
-
the impact of inflation on the value of paper currency. Inflation means that goods are in short supply and commodity prices rise, that is to say, more paper money is needed to buy the same procts. From this point of view, inflation reces the value of currency
-
the impact of inflation on the value of metal currency. The essence of metal currency is a commodity with value and use value, so inflation has no effect on the value of metal currency
7.
Open farm VIP
there is an icon of farm VIP in the upper right corner. Click it to see VIP privilege. You can have VIP privilege for 7-14 days by creating a list on the specified page
in addition to three times the gold bonus, you can also get five accelerators, golden radish, exclusive cash coupon and exclusive crops
8. I will
first of all, under the goal of stability policy, we prove that the separation between the growth rate of money supply and the inflation rate is caused by demand shock and monetary shock, so we suspect that the reason why the price inflation effect of current monetary policy is reced is that there are reverse demand shock and monetary shock. In this regard, we use cointegration relationship and ECM model to test. The test results show that there is a positive long-term cointegration relationship between the growth rate of money supply and the inflation rate in China (see cointegration equation (15)), which shows that China's monetary policy still has the ability to ultimately affect the price level, and monetary policy is still the main policy way of price level adjustment. In the long-term equilibrium relationship expressed by cointegration equation (15), the multiplier of money stock level to inflation rate is 0.983. After difference, it shows that 98% of money supply growth rate will be transferred to price inflation, and the long-term neutrality of money variable is still obvious. Therefore, the future economic growth still mainly depends on the expansion of the actual economic scale. At present, on the basis of continuing to adjust the total demand, we should promote the rapid economic growth by cultivating the total demand and realizing the total demand
secondly, by separating supply shock and monetary shock, we find that there are obvious signs of these two kinds of shocks in the current economy, and the direction of shock is opposite to that of price change, which is the main reason for the slight deflation and the decrease of nominal effect of monetary policy. In the ECM model, the overall effect (regression coefficient sum) of various shocks is opposite to the growth rate of money supply, which clearly reflects the impact direction of economic shocks on money supply and price level. The estimation results of ECM model show that the short-term fluctuation between the growth rate of money supply and the inflation rate has brought about a significant deviation between them e to the al impact of demand shock and money shock. The shortage of aggregate demand makes it impossible for the economy to realize flexible quantity adjustment, which leads to downward nominal price adjustment; The decline of nominal interest rate and price level leads to the increase of uncertainty of future income expectation, increases the money holding of residents' consumption, and slows down the speed of money circulation. In addition, the volatility, which represents the intensity of demand shock and currency shock, is also significantly weakened (see Figure 6). This is not only a sign that the gap of insufficient aggregate demand has not been widened, but also a reflection of the positive color of the stable monetary policy
finally, although the current velocity shock and demand shock of money circulation do not show any signs of continuous expansion, they do not show the characteristics of fast convergence to equilibrium. The stability of economic shock shows that the inflation rate, like the economic growth rate, will form a relatively stable stage, which means that deflation, like inflation, will last for a period of time once it is formed. Therefore, the impact of active monetary policy on the price level will also be a long process. Corresponding to the "soft landing" of China's economy, the future expansion of China's economy will also be a period of "soft expansion". In the case of short-term deviation of money supply and price level caused by demand shock, China's economy in the period of "soft expansion" is bound to be accompanied by the slow recovery of price level. Therefore, based on the influence mechanism of monetary policy on the change of price level, we should try our best to prevent the nominal interest rate from falling continuously in the operation of monetary policy, so as to maintain the opportunity cost of money holding, and increase the money supply moderately at the same time; By recing liquidity constraints and incing positive currency shocks, etc; To activate the precipitation of money stock in asset bubbles and release some non circulating monetary holdings, these measures will help ease deflationary pressure or prevent deflation from spreading.
first of all, under the goal of stability policy, we prove that the separation between the growth rate of money supply and the inflation rate is caused by demand shock and monetary shock, so we suspect that the reason why the price inflation effect of current monetary policy is reced is that there are reverse demand shock and monetary shock. In this regard, we use cointegration relationship and ECM model to test. The test results show that there is a positive long-term cointegration relationship between the growth rate of money supply and the inflation rate in China (see cointegration equation (15)), which shows that China's monetary policy still has the ability to ultimately affect the price level, and monetary policy is still the main policy way of price level adjustment. In the long-term equilibrium relationship expressed by cointegration equation (15), the multiplier of money stock level to inflation rate is 0.983. After difference, it shows that 98% of money supply growth rate will be transferred to price inflation, and the long-term neutrality of money variable is still obvious. Therefore, the future economic growth still mainly depends on the expansion of the actual economic scale. At present, on the basis of continuing to adjust the total demand, we should promote the rapid economic growth by cultivating the total demand and realizing the total demand
secondly, by separating supply shock and monetary shock, we find that there are obvious signs of these two kinds of shocks in the current economy, and the direction of shock is opposite to that of price change, which is the main reason for the slight deflation and the decrease of nominal effect of monetary policy. In the ECM model, the overall effect (regression coefficient sum) of various shocks is opposite to the growth rate of money supply, which clearly reflects the impact direction of economic shocks on money supply and price level. The estimation results of ECM model show that the short-term fluctuation between the growth rate of money supply and the inflation rate has brought about a significant deviation between them e to the al impact of demand shock and money shock. The shortage of aggregate demand makes it impossible for the economy to realize flexible quantity adjustment, which leads to downward nominal price adjustment; The decline of nominal interest rate and price level leads to the increase of uncertainty of future income expectation, increases the money holding of residents' consumption, and slows down the speed of money circulation. In addition, the volatility, which represents the intensity of demand shock and currency shock, is also significantly weakened (see Figure 6). This is not only a sign that the gap of insufficient aggregate demand has not been widened, but also a reflection of the positive color of the stable monetary policy
finally, although the current velocity shock and demand shock of money circulation do not show any signs of continuous expansion, they do not show the characteristics of fast convergence to equilibrium. The stability of economic shock shows that the inflation rate, like the economic growth rate, will form a relatively stable stage, which means that deflation, like inflation, will last for a period of time once it is formed. Therefore, the impact of active monetary policy on the price level will also be a long process. Corresponding to the "soft landing" of China's economy, the future expansion of China's economy will also be a period of "soft expansion". In the case of short-term deviation of money supply and price level caused by demand shock, China's economy in the period of "soft expansion" is bound to be accompanied by the slow recovery of price level. Therefore, based on the influence mechanism of monetary policy on the change of price level, we should try our best to prevent the nominal interest rate from falling continuously in the operation of monetary policy, so as to maintain the opportunity cost of money holding, and increase the money supply moderately at the same time; By recing liquidity constraints and incing positive currency shocks, etc; To activate the precipitation of money stock in asset bubbles and release some non circulating monetary holdings, these measures will help ease deflationary pressure or prevent deflation from spreading.
9. In fact, the problem is to change the method to test the understanding of monetary policy corresponding to inflation. On the other hand, what monetary policy should be adopted in the period of inflation. Then you
understand the problem, and it's easy to do the topic
first of all, use your knowledge to explain the impact of inflation on the economy, what is hyperinflation and its consequences. Then it explains what kind of monetary policy to implement, why to implement this strategy, and what kind of combination to achieve the effect. OK
if you have a method, it depends on you< br />GOOD
LUCK
understand the problem, and it's easy to do the topic
first of all, use your knowledge to explain the impact of inflation on the economy, what is hyperinflation and its consequences. Then it explains what kind of monetary policy to implement, why to implement this strategy, and what kind of combination to achieve the effect. OK
if you have a method, it depends on you< br />GOOD
LUCK
10. Automatic stabilizers are useful only in a small fluctuation range
inflation will lead to an increase in money demand.
inflation will lead to an increase in money demand.
Hot content