moderate inflation is beneficial to society 通货膨胀的英语论文

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1、ModerateInflationIsBeneficialtoSocietyIneconomics,inflationisthephenomenonofpricesofgoodsandservicesgenerallyrisinginaneconomyduringaperiodoftime(Barro895).Therearecomplexfactorscontributingtothephenomenonandyetnoeconomisthasadefiniteconclusion.Inflationismorecommonlyindu

2、cedbyincreasesinaggregatedemand(Gordon728).Throughanalyzingthecauses,itisbelievedthatmoderateinflationisbeneficialtosocietyinmanyaspects.Demandinflationisgenerallyinducedbyprivateandgovernmentspendingandit’sgoodforeconomicrecovery.Thefinancialcrisisof2007to2008overwhelmed

3、theworldandmanycountriesfacedrecession.Governmentsdeliveredaseriesofpoliciestorestoretheireconomies.Forinstance,Chinainitiatedthepositivefiscalpolicyandlaunchedaneconomicstimuluspackageof4000billion().T

4、heCongressintheUnitedStatesofAmericaalsoapprovedthepolicyofQuantitativeEasing().Whatthosegovernmentsdiddefinitelycausedinflationbutatthattimeinflationwasneededbecausetheycouldstimulatemarketdemand,whichwasg

5、oodforeconomicrecovery.Demandinflationencouragesmarketdevelopmentandexpansionisinevitable,whichcandefinitelyreducetheunemploymentrate.In1958,Phillipsdescribedinapaperhisobservationaninverserelationbetweeninflationandunemployment,thatishigherunemploymentinaneconomyiscorrel

6、atedwithalowerrateofinflation(Fisher496-502).AccordingtothestatisticsfromtheEU,theunemploymentrateoftheEuroZoneinmarchof2009is8.9%andtheinflationratewas0.6%().InChinaandotherdevelopingcountries,theunemploymentrateisrela

7、tivelylowerandtheinflationrateishigher.ForChina,unemploymentrateisapproximately4%andtheinflationrateisnearly5%(CaraAssociatedPress,retrieved30Dec,2010.).Theseexamplesexplicitlyindicatetheinverserelationbetweeninflationandunemploymentrate.Demandinflationsomewhatindicatesth

8、atmoneyinthemarketincreased,whichispartlycausedbyincreasinginvestment,includinginvestmentinnon-p