流动性过剩正冲击对产出有正效应，而且其效果是中长期有效的，即流动性过剩在中长期促进产出增长。
The positive impact of liquidity surplus has positive effect upon the output, and it is long-run effect, i. e. the liquidity surplus promotes output to increase in a long run.
流动性过剩正冲击对产出有正效应，而且其效果是中长期有效的，即流动性过剩在中长期促进产出增长。
The positive impact of liquidity surplus has positive effect upon the output, and it is long-run effect, i. e. the liquidity surplus promotes output to increase in a long run.
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