汇率

This choice incorrectly divided the difference between expected spot and forward by the forward rate rather than the spot rate.

这个选择正确划分预期之间的即期和远期的区别在远期汇率，而不是即期汇率。

Renminbi; exchange rate system ; dollar area ; target zone of exchange rate ; swap

人民币；汇率制度；美元区；汇率目标区；货币互换

Some econometrician methods are used to draw the conclusions. At last, the paper gives some suggestions on the development of the exchange market and the stock market of China.

该论文就在这种大前提下，首先对汇率与股价关系进行了理论和定性的研究，其次采用计量经济学手段对人民币汇率与中国股票市场价格进行了实证检验，最后在以上研究的基础上提出了相关的政策建议。

This paper has some researches on the theory about the exchange rate and the price of the stock market, and then makes the way on how the two variables influence each other clearly. Some econometrician methods are used to draw the conclusions.

该论文就在这种大前提下，首先对汇率与股价关系进行了理论和定性的研究，其次采用计量经济学手段对人民币汇率与中国股票市场价格进行了实证检验，最后在以上研究的基础上提出了相关的政策建议。

In order to untie the crux of perplexing Chinese macro-economy in recent years. New exchange rates for the RMB against other currencies system was published on July 21 .2005.That had changed the virtual dollar peg system in the past. The effectuation takes marketplace supply and demand as basis. And references to a basket of currencies regulation.

为了解开近年来困扰我国宏观经济的症结，新的人民币汇率制度于2005年7月21日出台，改变了过去事实上钉住美元的汇率制度，实行以市场供求为基础，参考一篮子货币进行调节，有管理的浮动汇率制度。

In most businesses, of course, insolvent companies run out of cash. Insurance is different: you can be broke but flush. Since cash comes in at the inception of an insurance policy and losses are paid much later, insolvent insurers donnot run out of cash until long after they have run out of net worth. In fact, these 搘 alking dead often redouble their efforts to write business, accepting almost any price or risk, simply to keep the cash flowing in. With an attitude like that of an embezzler who has gambled away his purloined funds, these companies hope that somehow they can get lucky on the next batch of business and thereby cover up earlier shortfalls. Even if they donnot get lucky, the penalty to managers is usually no greater for a $100 million shortfall than one of $10 million; in the meantime, while the losses mount, the managers keep their jobs and perquisites.

我们对于长期债券没有兴趣的原因在于对于未来十几年通货膨胀可能再度肆虐的潜在恐惧，长期而言，汇率的演变将取决于立法诸公的态度，这会威胁到汇率的稳定，进而影响到长期债券投资人的利益，我们持续将资金运用在套利之上，然而不像其它套利客，每年从事几十个案子，我们只锁定在少数几个个案，我们限制自己只专注在几个已经公布消息的大案子，避开尚未明朗化的，虽然这样会让我们的获利空间减小，但相对的只要运气不要太差，我们预期落空的机率也会减少许多。

According to the analysis in the previous chapters,the fourth chapter makes analysis from exchange rate changes to stimulating the economic development of our country,and then to the employment transmission mechanism.Aiming at the impact of change in the RMB exchange rate on employment,the paper sums up the main conclusions and propose policy recommendations.

第四章根据前三章的分析，主要从汇率变动刺激我国经济发展、再以经济发展带动就业传导机制展开分析，针对人民币汇率变动对就业产生的影响，总结出主要结论并提出相应的政策建议。

This paper, however, has extended the scope of employment structure studies by introducing exchange rate as a new variable in positivist studies and the methods of co-integration test and error correction model in the comparison of the relationships between real exchange rate and the proportion of tertiary industry production value and between the proportion of employment of China and Japan.

关于就业问题，以往的研究主要从就业总量与就业结构两个角度进行探讨，本文对就业结构的研究进行了拓展，在实证研究中引入汇率，运用协整和误差修正模型对日中两国实际汇率与第三产业产值比重和就业比重之间的关系进行了国别比较。

The status of our exchange rate system makes monetary policy transmission mechanism show a special phenomenon. That is capital escapement and money substitution.

我国汇率管理体系所处的特殊状态使我国货币政策汇率传导机制表现出独特的现象，即资本外逃和货币替代。

Influence the exchange Rate. With large foreign exchange reserves, a country can target a certain exchange rate.

影响汇率。庞大的外汇储备可以使一个国家对其目标汇率进行直接的影响。

Lugalbanda was a god and shepherd king of Uruk where he was worshipped for over a thousand years.

Lugalbanda 是神和被崇拜了一千年多 Uruk古埃及喜克索王朝国王。

I am coming just now,' and went on perfuming himself with Hunut, then he came and sat.

我来只是现在，'歼灭战perfuming自己与胡努特，那麼，他来到和SAT 。