中文摘要：

近些年来,全球流动性扩张问题颇受宏观经济与金融研究者们的广泛关注。本文选取了33个国家或地区从1980年第一季度到2009年第四季度的相关经济和金融方面数据,在经济数据处理的基础上利用相关统计方法对全球流动性进行了测量。在Philips曲线基准模型框架下,本文考察了全球流动性扩张的通货膨胀效应。最后,结合实证研究结果本文给出了相关研究结论和启示。

英文摘要：

Recently global liquidity expansion has become a hot issue among the macroeconomic and financial researchers.This paper uses the quarterly data of 33 countries or regions over the period 1980~2009,then measures the condition of global liquidity based on the sample.Under the benchmark model of Philips curve,this paper tests the explanatory power of global liquidity expansion on domestic inflation.Finally,this paper gives some policy implications based on the empirical findings.