The effect of these policies might come through in 2009, since both monetary and fiscal policy always take a while to have an effect.

这些政策可能要在2009年才能初见成效，毕竟货币和财政政策总是需要一段时间才能产生效果。

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What causes the lags in the effect of monetary and fiscal policy on aggregate demand?

什么因素导致货币和财政政策对总需求影响的时滞？

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Fiscal and monetary policy have a profound effect on the financial marketplace.

财政和金融政策对金融市场有巨大的影响。

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Then recall that it usually takes at least two quarters for monetary policy to have an effect.

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With a dollar peg, China's monetary policy is, in effect, being set by America's Federal Reserve, and is far too loose.

ECONOMIST: Asian currencies

And such hard exchange-rate regimes do not offer suitable policy instruments for domestic economic management: Argentina's monetary policy was, in effect, made in Washington and was often inappropriate for Argentina's needs.

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