Central Banks control the narrowest measure of the money supply, called the monetary base-typically, currency plus the reserves that commercial Banks hold with the central bank.

央行控制着控制着狭义货币供应量，这被称作基础货币——通常是流通货币加上商业银行和中央银行的贮备货币。

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This paper mainly to compare the differences discussed of currency definition, monetary functions, the law of money circulation, and thus deepen the understanding of monetary theory.

文章主要比较两者在货币定义、货币职能、货币流通规律三个方面的论述差异，从而更深刻地认识货币学说。

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First, neither excess reserves nor the monetary base (currency plus bank reserves) are money.

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The combined total of covered money substitutes plus currency is what economists call the monetary base, and by definition completely under the control of the Federal Reserve.

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Central banks control the narrowest measure of the money supply, called the monetary base typically, currency plus the reserves that commercial banks hold with the central bank.

ECONOMIST: Economics focus