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衍生金融交易对中央银行货币控制的影响廖锦强刘卓飞一、衍生金融工具及其交易降低了货币需求函数的稳定性。由于衍生金融工具具有高杠杆效应,即以少量保证金可以完成一笔数额巨大的交易,使投资者在只拥有少量资本的条件下,可以从事巨额买卖,从而使投机需求在货币需求...
The Impact of Derivative Financial Transactions on Central Bank Monetary Control Liao Jinqiang Liu Zhuofei I. Derivative financial instruments and their transactions reduce the stability of the money demand function. Due to the high leverage of derivative financial instruments, a large amount of margin can be traded with a small amount of margin to enable investors to engage in huge trading with only a small amount of capital, thereby making speculative demand in the currency demand ...