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Nevertheless, from 1900 to 1914 Austria-Hungary really possessed a gold standard or gold-exchange standard, for the Bank did in fact readily provide gold for commercial requirements.

然而,从1900至1914年,奥匈帝国真正拥有了金本位或金交换本位,因为银行实际上随时愿意提供黄金以满足商业的要求。

Under these arrangements, a gold standard, like a reserve currency system, results in fixed exchange rates between all currencies.

在上述条件下,金本位制就如同储备货币体系,导致了实行金本位制的国家之间的固定汇率。

Chohwa , which was made of standardized mulberry-bark paper early in the Joseon period, become the first legal paper money and was used as a medium of exchange in place of coins.From the 17th century until the end of the 19th century, Sang Pyong Tong Bo copper coins were the most widely circulated currency.The mintage and circulation of modern currency began during the last years of the old Korean Empire as a result of contact with the West.Around the time of the trial adoption of the gold standard in 1901, gold and silver coins were in circulation along with some Japanese bank notes.In 1909, the Bank of Korea was founded in Seoul as a central bank and began issuing currency of modern type.After Korea lost her sovereignty to Japan in 1910, the Bank of Korea was renamed the Bank of Chosn, until Korea's independence in 1945 at the end of World War II.

Chohwa、标准化mulberry-bark早在朝鲜进行期间,成为第一个合法的纸币和被用作一种交换媒介的硬币从17世纪到19世纪末,唱Pyong通博铜纪念币被认为是最广为流传的货币这个mintage和循环的现代货币开始在过去几年的老韩国帝国由于接触西方在一次试验所采用的标准1901年,金银铸币在循环连同一些日本银行纸币1909年,韩国银行成立于首尔作为中央银行发行的货币,现代类型韩国失去了她的主权后,日本在1910年,韩国央行改名为银行的独立性,直到朝鲜Chos?

There were various institutional arrangements in an attempt to find a solution, including the Silver Standard, the Gold Standard, the Gold Exchange Standard and the Bretton Woods system.

历史上的银本位、金本位、金汇兑本位、布雷顿森林体系都是解决该问题的不同制度安排,这也是国际货币基金组织成立的宗旨之一。

Soddy distilled his eccentric vision into five policy prescriptions, each of which was taken at the time as evidence that his theories were unworkable: The first four were to abandon the gold standard, let international exchange rates float, use federal surpluses and deficits as macroeconomic policy tools that could counter cyclical trends, and establish bureaus of economic statistics (including a consumer price index) in order to facilitate this effort.

索迪将其有别主流的看法精炼为5条政策药方,而每一条都是在迹象表明其理论行不通的时候提出来的。前4条建议分别是放弃金本位制度,允许国际汇率自由浮动,利用政府的预算盈余跟赤字作为抗周期波动的宏观政策工具,以及设立经济统计局以方便政策实施。

This paper includes several parts: first, some important concepts of the thesis have been defined, a theoretical overview of currency crisis has been finished; then, we have described the history of the international monetary system; later, three chapes have been arranged to discuss the mechanism of currency crisis under fixed and floating and intermediate exchange rate system respectively. The part of the fixed exchange rate system mainly includes the analysis of the collapse of the international gold standard system, the Bretton Woods system and the the European Monetary System; in the part of the floating exchange rate system, the volatility problem under freely floating exchange rate system has been studied; the part of the intermediate exchange rate system mainly includes the analysis of currency crises in regional dollar standard system and the currency board system. And finally, we have analysed the inevitability of the appearance of new type regional monetary cooperation patterns, and how these cooperations avoid currency crises.

本文主要包括这样几部分:首先,对论文中涉及到的重要概念给予界定,并对货币危机理论进行系统梳理;接着,按时间顺序从总体上回忆国际货币制度的历史演进;然后,用三个章节分别研究了固定汇率制度、浮动汇率制度以及中间汇率制度下货币危机的形成机理,其中,固定汇率制度下的货币危机主要包括国际金本位制度和布雷顿森林体系的崩溃,以及欧洲货币体系的瓦解;浮动汇率制度下的货币危机,则重点分析了自由浮动汇率制度下汇率的过度波动问题;中间汇率制度下的货币危机,分别分析了区域美元本位及货币局制度下货币危机的发生机理;最后,分析了目前新型区域货币合作模式出现的必然性,及各模式下如何规避货币危机。

Bretton Woods System The Bretton Woods system was a gold-exchange standard.

布雷顿森林体系布雷顿森林体系是金汇兑本位制。

It had been a long journey from the gold standard of the 19th century, via the restored gold-exchange standard of the 1920s, the monetary chaos of the 1930s, the Bretton Woods system of adjustable exchange rates of the 1950s and 1960s, the termination of dollar convertibility into gold in 1971, and the monetary targeting of the 1970s and 1980s.

这是一段漫长的旅途,从19世纪的金本位开始,历经上世纪20年代的金汇兑本位制、30年代的金融混乱、50年代和60年代实行浮动汇率制的布雷顿森林体系、1971年结束美元与黄金的兑换,以及70年代和80年代的货币目标制。

It had been a long journey from the gold standard of the 19th century, via the restored gold-exchange standard of the 1920s, the monetary chaos of the 1930s, the Bretton Woods system of adjustable exchange rates of the 1950s and 1960s, the termination of dollar convertibility into gold in 1971, and the monetary targeting of the 1970s and 1980s.

从19世纪的金本位制,上世纪20年代的恢复金汇兑标准,30年代的货币混乱,五六十年代的布雷顿森林体系的可调节汇率制,到1971年结束美元对黄金的可兑换性和七八年代的货币目标政策,金融业已经走过了一个漫长的旅程。

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