实证结果表明，三种政策工具对股票价格的影响效应存在差异。

According to the result of empirical study, there are differences between the effects of which different instrument influence stock price.

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农产品期货价格与股票价格指数对CPI通胀的正向影响渐趋清晰，房地产价格上涨产生抑制CPI通胀的“转移效应”。

The price of agricultural produce and indexes of stock price tend to clearly have positive effects on CPI inflation and the rise of real estate produces a "transfer effect" to restrain CPI inflation.

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结果表明，我国股票市场上订单流不平衡存在显著的自相关性，而且订单流不平衡对股票价格有着显著的冲击效应。

The result indicates that the order imbalances of our stock market are auto-correlative and the price impact thus resulted...

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