debt monetization

简明释义

债务性货币发行

英英释义

例句

1.The central bank's policy of debt monetization has sparked debates among economists about its long-term effects.

中央银行的债务货币化政策引发了经济学家对其长期影响的辩论。

2.Investors are wary of debt monetization as it can devalue currency and erode savings.

投资者对债务货币化持谨慎态度，因为它可能贬值货币并侵蚀储蓄。

3.Critics argue that debt monetization can lead to inflation if not managed properly.

批评者认为，如果管理不当，债务货币化可能导致通货膨胀。

4.The government resorted to debt monetization to fund its infrastructure projects, which means they printed more money to pay off their obligations.

政府诉诸于债务货币化来资助基础设施项目，这意味着他们印刷更多的钱来偿还义务。

5.During the economic crisis, many countries engaged in debt monetization to stabilize their economies.

在经济危机期间，许多国家进行了债务货币化以稳定经济。

作文

Debt monetization is a financial strategy used by governments to manage their debt levels and stimulate the economy. It occurs when a central bank purchases government bonds or other forms of debt, effectively converting that debt into money. This process can provide immediate liquidity to the government, allowing it to finance public spending without raising taxes or cutting services. However, while debt monetization (债务货币化) can provide short-term benefits, it also carries significant risks that must be carefully considered.One of the primary advantages of debt monetization (债务货币化) is that it can help a government respond quickly to economic crises. For example, during times of recession, increased government spending can help stimulate demand and promote economic recovery. By monetizing debt, a government can inject money into the economy without the need for immediate tax increases, which can be politically challenging. This approach was notably used during the 2008 financial crisis, where central banks around the world engaged in quantitative easing, a form of debt monetization (债务货币化).However, there are potential downsides to this strategy. One major concern is inflation. When a central bank increases the money supply through debt monetization (债务货币化), it can lead to higher prices if the economy is already operating near its capacity. If people expect prices to rise, they may spend more now rather than later, further driving up demand and prices. This phenomenon can erode purchasing power and create uncertainty in the economy.Another risk associated with debt monetization (债务货币化) is the impact on government credibility. If a government relies too heavily on this strategy, it may signal to investors that it is unable or unwilling to manage its finances responsibly. This can lead to higher interest rates on government borrowing, as investors demand a premium for the perceived risk of default. Over time, excessive reliance on debt monetization (债务货币化) can undermine confidence in a country's currency, potentially leading to a currency crisis.Furthermore, debt monetization (债务货币化) can create a moral hazard, where governments may feel incentivized to accumulate more debt, believing that they can always monetize it later. This can lead to unsustainable fiscal policies and long-term economic challenges. Therefore, while debt monetization (债务货币化) can be a useful tool in certain situations, it should be used judiciously and as part of a broader fiscal strategy that includes measures to ensure long-term economic stability.In conclusion, debt monetization (债务货币化) is a complex and multifaceted financial strategy that can offer both opportunities and challenges. While it can provide essential liquidity and support for economic growth during difficult times, it also poses risks such as inflation, loss of credibility, and moral hazard. Policymakers must carefully weigh these factors when considering the use of debt monetization (债务货币化) as a tool for managing national debt and fostering economic recovery. Ultimately, a balanced approach that combines responsible fiscal management with strategic use of debt monetization (债务货币化) may yield the best outcomes for both governments and their citizens.

债务货币化是一种由政府用于管理其债务水平和刺激经济的金融策略。当中央银行购买政府债券或其他形式的债务时，实际上将这些债务转化为货币。这一过程可以为政府提供即时流动性，使其能够在不增加税收或削减服务的情况下资助公共支出。然而，虽然债务货币化（debt monetization）可以提供短期利益，但它也带来了显著的风险，这些风险必须谨慎考虑。债务货币化（debt monetization）的主要优势之一是，它可以帮助政府迅速应对经济危机。例如，在衰退时期，增加政府支出可以帮助刺激需求并促进经济复苏。通过货币化债务，政府可以向经济注入资金，而无需立即提高税收，这在政治上可能具有挑战性。这种方法在2008年金融危机期间得到了明显的运用，全球各国的中央银行都采取了量化宽松政策，这是一种债务货币化（debt monetization）。然而，这一策略也存在潜在的缺点。一个主要的担忧是通货膨胀。当中央银行通过债务货币化（debt monetization）增加货币供应时，如果经济已经接近其产能，就可能导致价格上涨。如果人们预期价格会上涨，他们可能会选择现在就消费，而不是等到以后，从而进一步推动需求和价格的上升。这种现象可能会侵蚀购买力并在经济中造成不确定性。与债务货币化（debt monetization）相关的另一个风险是对政府信誉的影响。如果政府过于依赖这一策略，可能会向投资者发出信号，表明其无法或不愿意负责任地管理其财务。这可能导致政府借款的利率上升，因为投资者要求对违约风险的溢价。随着时间的推移，过度依赖债务货币化（debt monetization）可能会削弱对国家货币的信心，最终可能导致货币危机。此外，债务货币化（debt monetization）可能会产生道德风险，政府可能会感到有动力积累更多的债务，因为他们相信可以在之后货币化。这可能导致不可持续的财政政策和长期的经济挑战。因此，尽管债务货币化（debt monetization）在某些情况下是一个有用的工具，但它应该谨慎使用，并作为更广泛财政策略的一部分，包括确保长期经济稳定的措施。总之，债务货币化（debt monetization）是一种复杂且多面的金融策略，可以提供机会和挑战。虽然它可以在困难时期提供必要的流动性和支持经济增长，但它也带来了通货膨胀、信誉丧失和道德风险等风险。政策制定者在考虑使用债务货币化（debt monetization）作为管理国家债务和促进经济复苏的工具时，必须仔细权衡这些因素。最终，结合负责任的财政管理与战略性使用债务货币化（debt monetization）的平衡方法，可能会为政府及其公民带来最佳结果。