"liquidity" Measure

In recent years, liquidity has become a hot issue concerned by the government and scholars. But the research on liquidity is still in the initial stage. How to understand it? What phenomenon does it have? What harmful influences can it bring? What are the reasons? How to measure it? All of those need further and systematic research.In this article, liquidity means the amount of currency in economy, and the changing trend of currency liquidity reflects the loose or tight monetary environment. Both Policy-makers and investors are concerned about how liquidity effects on not only macroeconomic but also real economy and virtual economy. For this reason, this article systematically expounded on the concept of liquidity, as well as different definitions for the liquidity of the theoretical basis of different measurement standards and methods. On this basis, based on the following standard: (1) the availability and versatility of the basic data; (2) the visual indication and comparability of the outcome; (3) the real economy and virtual economy covered by the measurement parameters; (4) how the actual monetary conditions can be read by the measurement results. In this paper, "Marshallian K" and "deviation from the equilibrium value of currency" finally were selected as measures of liquidity indicators.Lack of theoretical approaches to the actual inspection will not be able to verify its authenticity and will eventually lose their practical significance. In this article, "Marshallian K" and "Deviation from the equilibrium value of currency" were used in different periods in U.S., Japan and China to show the relationships between the monetary liquidity and the fluctuating of macroeconomic.And the paper reached the following conclusions: "Marshallian K" has a certain reference value to measure the monetary liquidity; while "Deviation from the equilibrium value of currency" has a higher accuracy and higher reading ability of the economic operation; the impact of central bank monetary policy through the money supply, not necessarily a real change in the real money market liquidity conditions, while the real situation of liquidity surplus or shortage, with the real economy has ups and downs of the more obvious positive correlation.