According to Friedman's analysis, stock market affects monetary demand from four perspectives: wealth, riskspreading, transaction and substitution, with different effects in different directions.
股票市场通过财富效应、风险分散效应、交易效应和替代效应等多种渠道影响货币需求，不同效应的影响方向是不同的。
The effectiveness of interest rate policy is determined by the elasticity of monetary demand.
利率政策的有效性取决于货币需求的利率弹性。
To observe the monetary demand of our country, great attention should be paid to macro-monetary demand.
考察我国的货币需求，需要注重考察宏观货币需求。
It can be essentially seen as the substitution of the functions of domestic currency by foreign currency, and can also be analyzed from the aspect of the motive of monetary demand.
货币替代在本质上表现为外币在货币职能上替代本币，也可从货币需求动机上对其进行分析。
Aggregate prices rise only with reduced supply or increased (monetary) demand.
总体价格只会因商品供应减少或者货币需求增大而上升。
Aggregate prices rise only with reduced supply or increased (monetary) demand.
总体价格只会因商品供应减少或者货币需求增大而上升。
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