财政政策传导机制直接反映市场机制效率的高低，同时也会影响到财政政策效应的实现。

Fiscal policy transmission mechanism directly reflects the efficiency of the market mechanism and it also affects the effects of fiscal policy.

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附属功能主要包括商业银行作为支付中介的功能、货币创造的功能、政策传导的功能和代理服务的功能等。

Sub functions of commercial bank include the function for the intermediate, the function of money creation, policy transmission functions and the functions of agency services.

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各国对通货紧缩的治理也存在着政策上的冲突，要实现对通货紧缩的有效治理，必须明确通货紧缩的传导机制。

There have many conflicts with the policy of deflation administration. So it is vital now to define the conduction of deflation.

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