关于quantitative easing (QE) 在liquidity trap中的作用

NO.PZ2022071403000080 问题如下 Question a monetary politool, quantitative easing (QE) will most likely help revive ailing economy in whiof the following environments? A.flationary tr B.clining bank reserves aneconomic activity C.Liquity tr SolutionB is correct. Quantitative easing (QE) is “unconventional” approato monetary polianis operationally similto open market purchase operations but concteon a mularger scale. The aitionreserves createcentrbanks in a poliof quantitative easing cuseto buy any assets. The ia is ththis aitionreserve will kick-start lenng, causing bromoney growth to expan whiwill eventually leto increase in reeconomic activity.A is incorrect. flation is a pervasive anpersistent fall in a generpriinx anis more fficult for conventionmonetary polito with thinflation. This is because onthe monetary authority hcut nomininterest rates to zero to stimulate the economy, it cannot cut them any further. It is this point ththe economic contions for a liquity trarise. flation raises the revalue of bt, while the persistent fall in prices cencourage consumers to put off current consumption, leang to a fall in manthlea to further flationary pressure. Thus a flationary “trap” cvelop, whiis characterizeweconsumption growth, falling prices, anincreases in relevels.C is incorrect. A liquity tris associatewith occasions where the manfor money becomes infinitely elastic—this, where the mancurve is horizontaninvials are willing to holaitionmoney balances without any change in the interest rate—so thfurther injections of money into the economy will not serve to further lower interest rates or affereactivity. In this extreme circumstance, monetary policbecome completely ineffective.B正确。量化宽松(QE)是一种“非常规”的货币政策手段，在操作上类似于公开市场购买操作，但规模要大得多。央行在量化宽松政策下创造的额外储备可以用来购买任何资产。央行的想法是，这一额外准备金将启动放贷，导致广义货币增长扩大，最终导致实体经济活动增加。A不正确。通货紧缩是一种普遍的、持续的价格指数下跌，用常规货币政策来应对比通货膨胀更困难。这是因为，一旦货币当局将名义利率降至零以刺激经济，它就无法再进一步降息。正是在这一点上，流动性陷阱的经济条件出现了。通货紧缩提高了债务的实际价值，而价格的持续下跌可能会鼓励消费者推迟当前的消费，导致需求下降，从而导致进一步的通货紧缩压力。这样就会形成一个通货紧缩的“陷阱”，其特点是消费增长疲软、价格下跌和实际债务水平上升。C不正确。流动性陷阱与货币需求变得无限弹性的情况有关——也就是说，需求曲线是水平的，个人愿意在利率没有任何变化的情况下持有额外的货币余额——因此，进一步向经济注入资金将不会进一步降低利率或影响实际活动。在这种极端情况下，货币政策可能完全失效。 没有懂为什么选B不选A？不是用来解决flation的嘛

NO.PZ2022071403000080问题如下 Question a monetary politool, quantitative easing (QE) will most likely help revive ailing economy in whiof the following environments? A.flationary trapB.clining bank reserves aneconomic activityC.Liquity trapSolutionB is correct. Quantitative easing (QE) is “unconventional” approato monetary polianis operationally similto open market purchase operations but concteon a mularger scale. The aitionreserves createcentrbanks in a poliof quantitative easing cuseto buy any assets. The ia is ththis aitionreserve will kick-start lenng, causing bromoney growth to expan whiwill eventually leto increase in reeconomic activity.A is incorrect. flation is a pervasive anpersistent fall in a generpriinx anis more fficult for conventionmonetary polito with thinflation. This is because onthe monetary authority hcut nomininterest rates to zero to stimulate the economy, it cannot cut them any further. It is this point ththe economic contions for a liquity trarise. flation raises the revalue of bt, while the persistent fall in prices cencourage consumers to put off current consumption, leang to a fall in manthlea to further flationary pressure. Thus a flationary “trap” cvelop, whiis characterizeweconsumption growth, falling prices, anincreases in relevels.C is incorrect. A liquity tris associatewith occasions where the manfor money becomes infinitely elastic—this, where the mancurve is horizontaninvials are willing to holaitionmoney balances without any change in the interest rate—so thfurther injections of money into the economy will not serve to further lower interest rates or affereactivity. In this extreme circumstance, monetary policbecome completely ineffective.QE对于流动性陷阱是无效的么？请老师讲解下每一个。