虚拟经济对通货膨胀作用效应的理论与实证分析

Since 1970s, the world’s virtual economy has improved a great deal, which has changed the correspondent relationship between money supply and inflation, resulting in the price fluctuation in real economy. Virtual economy can, on the one hand, be the cash "pool" of the society, reducing the inflation in real economy, on the other hand, be an inflation "booster", stimulating the inflation in real economy. This paper proved
that; from 1998 to 2012，the majority of the currency put into market had mainly flown into real estate market, where the price continued to rise, thus reducing the monetary amount in real economy, where, on the contrary, the price level kept stable and had a low chance of inflation.