货币

However, the theory of the transmission mechanism of monetary policy is full of dispute.

然而，货币政策传导机制理论也充斥着争论与辩驳，传统的货币政策货币渠道传导机制与新的信贷渠道传导机制并存。

Each token represented an amount of money. An individual could keep the object or donate it as part of a group project. If the person kept the token, it was worth one unit of money. If a person donated the token to a group project, the token was worth half of that amount to each person in the group.

每个代用货币代表着一定数目的钱，各个人可以保留他们或作为团体项目捐赠，如果一个人保留代用货币，它值一个单位的钱，而如果捐赠给团体项目，代用货币对每个小组里的各个人来说仅值一半的价值。

But what must be entirely condemned is the widespread practice of giving the name of money to certain classes of money-substitutes, usually bank-notes, token money, and the like, and contrasting them sharply with the remaining kinds, such as cash deposits.

但是，必须彻底加以谴责的，一是把货币的名字四处乱发，给予某些等级的货币代用品，二是将这些货币代用品与其余种类差异对待。

Marx says in Volume I,"Exclusion of money from circulation would also exclude absolutely its self-expansion as capital, while accumulation of a hoard in the shape of commodities would be sheer tomfoolery."

在第一卷中，马克思指出，&把货币贮藏起来不加入流通，同把货币作为资本而增值，恰恰是相反的两回事，从货币贮藏的意义上进行商品积累，是十足的愚蠢行为。&

The first part consists of the introduction and basic theories, which remarks correlative literatures and disquisitions and puts forward the transmission mechanism of the stock market. It also analyzes the impacts of the monetary policy for stock market in our country to show the necessity of research on this mechanism. The second part is the microcosmic and macroscopic analysis; it mainly comprises the behaviors of the enterprise, the bank and the inhabitant as well as the stock market, money market and their joint condition. The third part studies the transmitting impacts with demonstration analysis from two aspects, and explains this course using the theories of the first part and the micro-and macro-foundation of the second part. The fourth part is the conclusion and policy recommendations; it includes the factors of effecting the transmission of monetary policy in the stock market, proposes some related suggestions, and points out the research direction in the future.

本文分为四部分：第一部分为导论及基本理论分析，对国内外股市传导机制研究理论文献进行述评，提出系统的股市传导机制，并分析我国股市发展对货币政策的影响来说明研究股票市场传导机制的必要性；第二部分为宏微观基础分析，主要包括企业、银行及居民行为以及股票市场、货币市场及其联结状况分析；第三部分分两个环节实证研究股市传导效果，并利用第一部分的理论与第二部分的宏微观基础进行解释；第四部分是结论及政策建议，归纳影响货币政策股票市场传导的因素，提出相关建议，指出未来研究方向。

"It is now time to seriously pursue the goal of a Single Global Currency as managed by a Global Central Bank within a Global Monetary Union."

&现在是时候认真追求建立单一世界货币的目标了，这个世界货币由全球货币联盟内部的全球中央银行管理。&

As Bonpasse asserts,"It is now time to seriously pursue the goal of a Single Global Currency as managed by a Global Central Bank within a Global Monetary Union."

正如Bonpasse断言：&现在是时候认真追求建立单一世界货币的目标了，这个世界货币由全球货币联盟内部的全球中央银行管理。&

In another article, Mr Zhou suggested the creation of a new international reserve currency, managed by the IMF, to replace the dollar.

在另一篇文章中，周行长建议创立新储备货币来取代美元并由国际货币基金组织进行管理，对此西方政府官员态度冷淡，而对于中国建议重组国际货币基金组织投票权以加强发展中国家话语权的提案表示了更大的兴趣。

Monetarists assert that the empirical study of monetary history shows that inflation has always been a monetary phenomenon.

货币学派的主张认为通过对货币历史经验的研究表明，通货膨胀通常只是一个货币现象。

Unlike Keynesians, monetarists insisted that money is neutral, meaning that in the long run, changes in the money supply will only change the price level and have no effect on output and employment.

不同于凯恩斯主义，货币主义者坚持认为，货币是中性的，也就是说，从长远来看，货币供给的变化将只改变价格水平，对生产和就业没有影响。

Neither the killing of Mr Zarqawi nor any breakthrough on the political front will stop the insurgency and the fratricidal murders in their tracks.

在对危险的南部地区访问时，他斥责什叶派民兵领导人对中央集权的挑衅行为。

In fact,I've got him on the satellite mobile right now.

实际上 我们已接通卫星可视电话了