查询词典 monetary system

The discussion of monetary policy and capital flows almost inevi-tablybegins with the well-known trilemma, the observation that acountry can choose no more than two of the following three featuresof its policy regime:(1) free capital mobility across borders,(2) a fixedexchange rate, and (3) an independent monetary policy.1 Various combinations of these features have dominated world monetary ar-rangementsin different eras.

关于货币政策和资本流动的讨论要从众所周知的"三难困境"开始，即，一个国家的政策安排不可能同时具有下属三个特征，而只能三者选二：（1）资本自由的跨国流动（2）固定汇率（3）独立的货币政策。这三种特征的不同组合就构成了世界不同地区的货币制度安排。

The effectiveness of the equilibrium credit rationing behavior to our monetary policy mainly express in following aspects: The first, the creation of the equilibrium credit rationing behavior influence the National Central Bank's activity of adjusting the control of foundational monetary directly; The second, the existence of the equilibrium credit rationing behavior inevitably influence the effectiveness of the National Central Bank controls the policy of the market interest rate; The third, the equilibrium credit rationing behavior would influence the monetary multiplicator; The fourth, the existence of the equilibrium credit rationing behavior would result the partition of the credit market.

均衡性信贷配给对我国货币政策的影响主要表现在以下几个方面：第一，均衡信贷配给的产生直接影响中央银行调控基础货币投放的主动性；第二，均衡信贷配给的存在必然影响中央银行控制市场利率政策的效力；第三，均衡性信贷配给影响货币乘数；第四，信贷配给的存在导致信贷市场的分割。

So, our work consists of two major parts: First, we using qualitative and quantitative analysis to prove the effects of monetary policy in non-crisis period is effective and its effectiveness is significant. Second, we analysis the effects of monetary policy in crisis period, especially time slice by means of recurrence method, and do empirical study of each interval sample separately to observe the change of monetary effectiveness.

为此，本文所做的工作主要有以下两点：第一，通过定性分析和实证方法证明在美国经济正常时期，即非危机时期，美国的货币政策是有效的且有效性显著；第二，对次贷危机以来美国的货币政策效应进行分析，以时间递推的方法将危机时期进行分段，并分别进行实证研究观察货币政策有效性的变化。

This paper examines whether or not stock return responds asymmetrically to monetary policy shocks. We use over-night rate volatility to measure monetary policy and apply Component-GARCH-Constant Jump and ARJI-Trend model to capture expected and unexpected effects of government's monetary policy on the stock return in American, Canada, Japan, and Britain. Considering the non-normality features of these assets returns, this paper use skewed student t distribution to estimate the relationship between the permanent and transitory components of the conditional variance and the frequency and intensity of jump of stock return.

本文探讨货币政策对於股市报酬之影响，选取货币政策代理变数－金融业隔夜拆款利率在分别采用Component-GARCH-Constant Jump与ARJI-Trend模型，并同时考量报酬率呈现非常态之特性，因此采用偏态t分配(skewed student t-distribution)进行估计条件变异数的恒常与移转部份及跳跃机率与跳跃频率，以捕捉政府实施预期及非预期的货币政策对股市报酬的影响，分析在预期及非预期的货币政策冲击下对股市的影响是否存在不同之效果。

Just as these were, so the nominalistic monetary theories of the present day are characterized by their inability to contribute a single word towards the solution of the chief problem of monetary theory - one might in fact simply call it the problem of monetary theory -, namely, that of explaining the exchange-ratios between money and other economic goods.

与那些古老理论一样，现在的唯名论的货币理论对货币理论首要问题——事实上，也可以称它为货币理论问题，即，解释货币和经济财之间的交换率——的解决，毫无一砖一瓦之贡献。

This chapter mainly expounds basic quantitative monetary theory and model, then thinks that monetary neutrality and nonneutrality is the important premise of whether the monetary policy is effective or not.

本章重点论述了一些基本的货币数量理论及模型，并且认为货币政策是否具有有效性的重要前提是货币中性命题是否成立，并展开阐述了凯恩斯主义的货币需求动机理论，概述了不同经济学派对货币政策有效性的主要观点和结论。

Since 1994 China has turned its monetary policy operation from direct control of credit to indirect control of monetary aggregate which included adjustment to base money, interest rate and open market operation. In 1995 money supply was introduced as a triable medium aim of monetary policy and in 1996 it became a formal medium aim.

自1994年开始我国货币政策操作从控制信贷规模为主的直接调控手段逐渐向控制基础货币、利率调整、公开市场操作等间接调控手段转变，1995年尝试把货币供应量纳入货币政策中介目标体系，1996年正式把货币供应量作为中介目标。

In Chinese monetary transmission mechanism, monetary transmission channel is restricted owing to unsocialized interest rates and unperfected monetary market, credit transmission channel is the primary transmission channel.

我国货币政策传导机制中，由于利率市场化程度不高、货币市场不发达等因素制约了利率传导机制、资产价格机制、汇率传导机制的有效性，导致目前信用传导渠道仍然是我国货币政策传导的主要途径。

Based on a multi-period monetary policy model with time-lag of policy and perturbation in the transmission of monetary policy,the paper discusses the effect of monetary policy under an intermediate money-targeting policy.

本文在一个引入时滞和货币政策传导扰动的货币政策模型中，分析了货币存量中介目标制下的货币政策效率问题。

Four basic processes are analyzed in detail in network security decision,which are the base of NSDSS security decision. Then, developing strategies and methods are analyzed according to the objective and task of the system. Antetype method with RAD speciality is chosen to lead the developing process of the system. The structure of "Four-Base and Seven-System" of NSDSS is decided, based on which, the Function and Structure of Man-Machine Conversation system, General Management system, Data Base system, Model and Method Base system, knowledge base system, Causing and solving problems system are discussed. The basic theories and methods of each part are discussed. In the designing process of Model Base System, detailed analysis is given to the models of prediction, evaluation and management in the course of security decision. Moreover, basic process and method are discussed on question generation and solution. Then, detailed explanation is provided on the integration and implement of the system. After that, it is suggested that implement of the system should be carried through the process of the system.

论文首先对NSDSS涉及到的相关知识进行了讨论，详细分析了网络安全决策中的四个基本过程，这是NSDSS进行安全决策的基础；随后依据系统的目标和任务，对系统的开发策略和方法进行了分析，选择具有RAD能力的原型法指导整个系统的开发过程；确定了NSDSS"四库七系统"的整体结构；在此基础上，分别探讨了人机对话系统、通用管理系统、数据库系统、模型库和方法库系统、知识库系统、问题生成和求解系统的功能和结构，对各部件的基本原理和实现方法进行了论述；在模型库系统的设计过程中，对安全决策过程中运用到的安全预测、安全评估、安全管理等模型进行了详细的分析；仔细探讨了问题生成和求解的基本过程和方法；较为详细地阐述了系统集成和实施的有关问题，面向系统的成功实现，提出了将系统实施贯串于整个系统开发过程中的思想。

We stopped by the old fashion ice cream parlor Manhattan Beach Creamery for some refreshment. The "No Shoes, No Shirt, No Problem" sign on the wall epitomizes the beach lifestyle.

我们去商店区的一家老式冰淇淋店坐坐，墙上挂著「没鞋，没上衣，没问题」的牌子完全捕捉了海滩生活的随性及风格。

"If therefore", argues Bellarmine we can offer our prayers and our satisfactions in behalf of those detained in purgatory, because we are members of the great body of Christ, why may not the Vicar of Christ apply to the same souls the superabundant satisfaction of Christ and his saints--of which he is the dispenser?

" "因此，如果"，认为贝拉明（德indulgentiis ，十四）"我们可以提供我们的祈祷和我们满意的代表那些被拘留在炼狱，因为我们是成员的伟大基督的奥体，为什麼可能不是牧师基督适用於同样的灵魂满意的过剩是耶稣和他的圣人-他是在配药？