定为货币

A new IMF working paper* by Bernard Laurens and Rodolfo Maino argues that interest rates need to play a much bigger role in China's monetary policy. If the PBOC adopted a short-term money-market rate as its operational target, its policy would be more effective and the allocation of capital would be more efficient.

一份新近由Bernard Laurens和Rodolfo Maino撰写的国际货币基金组织工作报告，称利率须在中国的货币政策中发挥更多作用，如果中国人民银行将短期货币市场利率定为运作目标，其政策会更加有效，资本配置也会更有效率。

A new IMF working paper* by Bernard Laurens and Rodolfo Maino argues that interest rates need to play a much bigger role in China's monetary policy. If the PBOC adopted a short-term money-market rate as its operational target, its policy would be more effective and the allocation of capital would be moreefficient.

一份新近由Bernard Laurens和Rodolfo Maino撰写的国际货币基金组织工作报告，称利率须在中国的货币政策中发挥更多作用，如果中国人民银行将短期货币市场利率定为运作目标，其政策会更加有效，资本配置也会更有效率。

In the research to demand of International reserves,first, according to the affective character of demand to transition of International reserves, choosing the decision theory of Markov and dynamic transition equation as basic model, the paper has set up two transition methods--- stationary matrix and dynamic matrix, the later matrix has improved the sensitive reaction to time and velocity. Second, combining with knowledge of linear algebra, the paper has analyzed and testified the positive associated relation between transition matrix elements on main diagonal and the convergent speed of system, and explained why international reserves transition embodies the character under new situation and why the transition process can be accelerated by the strike of international idle money. Third,on the quantitative calculating to elements of transition matrix,referring to multiplication theory and decomposing-composing method of system, the paper has transformed main three-factor deciding confidence of international monetary into detail modulus by comparing analysis measure,now the matrix has been decided.

在国际储备的需求分析研究中，本文首先选择马尔可夫转移方程作为基础模型，根据需求对外汇储备结构的影响特点，提出非定常转移矩阵变换方法，拓展了马尔可夫变换对时间和速度的敏感性；结合线性代数知识，分析证明了定常转移矩阵的主对角线元素值的大小与系统的收敛速度的正向关联关系，并利用结论解释了国际货币新动向下外汇储备转换表现出的趋势特点以及国际游资冲击对国际货币结构变化的加速影响；在转移矩阵元素的量化计算上，本文参考乘数理论和系统分解合成原理，采用对比分析方法把影响国际货币信心的三大要素综合量化为转移偏好系数，然后根据转移偏好系数确定转移矩阵的元素值，其中还分别具体给出了定常转移矩阵和非定常转移矩阵的计算方法及在变换中的使用方法，从而不仅在定量分析上应证了定性分析结论，而且反映了随时间变化的美圆、欧元、日圆的比例结构均衡过程。

The reestablishment of a new and widely accepted reserve currency with a stable valuation benchmark may take a long time.

重建具有稳定的定值基准并为各国所接受的新储备货币可能是个长期内才能实现的目标。

Do you know, i need you to come back

你知道吗，我需要你回来

Yang yinshu、Wang xiangsheng、Li decang,The first discovery of haemaphysalis conicinna.

1〕 杨银书，王祥生，李德昌。安徽省首次发现嗜群血蜱。