Some people have argued that the high commodity prices resulting from monetary stimulus are a sort of supply shock, which might negate the impact of quantitative easing on aggregate demand.

有些人主张，货币刺激造成的高商品价格是一种供应冲击，这可能会抵消量化宽松政策对总需求的影响。

youdao

This makes the eventual proportional change in all prices from a monetary shock slower than it would be.

FORBES: NGDP in the Long Run and Economic Plasticity

Taking the stress-strain analogy seriously these sudden rigidity changes should cause the economy to be less elastic under nominal shocks, which means that some parts of the economy will never completely recover from the monetary shock.

FORBES: NGDP in the Long Run and Economic Plasticity

That means structural reforms to raise productivity, fiscal reforms to boost growth and a strong monetary stimulus, all at once, to shock the economy back to life.

ECONOMIST: Japan's debt problem