货币

Euromarkets are international money and capital markets, they are concerned with Eurocurrencies, that is, currencies traded in Europe outside their home countries. The most important Eurocurrency is the Eurodollar.

欧洲市场是国际货币与资本市场，从事与欧洲货币有关的业务，欧洲货币即在货币发行国境外的欧洲进行交易的货币，最重要的欧洲货币是欧洲美元。

The Euromarkets are international money and capital markets, they are concerned with Eurocurrencies, that is, currencies traded in Europe outside their home countries. The most important Eurocurrency is the Eurodollar.

欧洲市场是国际货币与资本市场，从事与欧洲货币有关的业务，欧洲货币即在货币发行国境外的欧洲进行交易的货币，最重要的欧洲货币是欧洲美元。

Euromarkets are international money and capital markets, they are concerned with Eurocurrencies, that is, currencies traded in Europe outside their home countries. The most important Eurocurrency is the Eurodollar. The Eurodollar market developed in the second half of the 1950s.

欧洲市场是国际货币与资本市场，从事与欧洲货币有关的业务，欧洲货币即在货币发行国境外的欧洲进行交易的货币，最重要的欧洲货币是欧洲美元。

It's a spiral progress of "general equivalents". From the angle of the currency theory, the exchangeability of one currency is the prerequisite and standard of the currency internationalization.

从货币理论的角度来看，货币完全可自由兑换是货币走向国际的必要条件和前骤，但国别货币要成为国际货币，其货币职能必须国际化。

After contrastive research on correlative monetary theories, we will draw conclusions that money was consequentially created is not only for overcoming the difficulty of labour exchange, but for meeting the need of a demand which possess integrated monetary fuctions .

货币理论应以货币职能的研究为基本点，货币的产生应该源于经济对具有货币职能的物质载体的需求，在分工和私有产权制度下，货币的产生除了为了克服物物交换的不便外，还有为同时满足经济对其他货币职能的需求。

So, in view of the peculiarities of the short-term dynamic model and the impulse response function, impulse response is stable and sensitive. In the short-term period, the central bank has a greater control of Ml through the conduction of the base currency and the result is better. It can also prove that the money multiplier of our country has long and firm relations with other elements except the base currency. Through the short-term dynamic equation, it successfully calculates the money multiplier beyond the sample and provides the basis for the central bank to prefigure the regular alteration of the money multiplier.

实证检验显示，中央银行运用货币政策工具时受外汇占款变量的制约影响太大，而再贷款成了调控基础货币投放的主要对冲手段，它的作用的发挥有赖于外汇占款的变动情况，存在明显的被动性。2、基础货币与M1和M2存在长期稳定关系，从长期来看基础货币对M2的冲击影响强于对M1的影响，而从短期来看基础货币对M1的影响要强于对M2的影响；M1和M2在基础货币冲击下具有冲击的放大传导机制和缓沖传导机制，脉冲响应具有稳定性和灵敏性，基于短期动态模型和脉冲响应函数所表现出的特征。

This paper defines the velocity of money and deduces the model of money dynamics, proving that the movement of money has a main circular direction of movement and the nature of continuous media. It also proves the hypothesis that money moves like fluid, proposed by Irving Fisher and Fran? ois Quesnay, thus deducing the model of the cross-border movement of money.

通过定义货币流通速度，推导出货币动力学模型，证明了货币运动有一总的循环运动方向和货币运动具有连续介质特征，也证明了费雪和魁奈等人提出货币运动如同流体的假说，从能量的角度推导出货币跨国运动模型。

In the meanwhile, due to stress the importance of money too, Keynes attributed the credit relations of money to the economic relations peculiar to capitalism through the exposition for the own interest rate of money. In addition, Keynes tried to relate the value and distribution theory to the money theory in order to construct a kind of new money theory. And this attempt could find basis in Marx's labor theory of value.

而同样强调了货币重要性的凯恩斯，通过对货币的自己的利息率的论述，把货币的信用关系归之于资本主义特有的经济关系，其希图将价值、分配理论与货币理论联系起来以建立一种新的货币经济理论的尝试，可以从马克思的劳动价值论到货币论的推演中找到依据。

The author stressfully compare financial variables of possibly acting as intermediary goals: monetary supplies, market interest rate and inflation rate in terms of monetary multiplier, monetary circulating velocity, and basic money etc, which tries by comparing to that the index of monetary supplies is superior to the others in terms of measurability, controllability, and anti-disturbance.

其后在这一部分中本文结合经济与金融环境的变化，从货币乘数、货币流通速度、基础货币等几个方面，重点比较了货币供应量、市场利率和通货膨胀率等三个可供作为货币政策中介目标使用的金融变量，力图通过比较来说明，从可测性、可控性和抗干扰性等多个角度看，货币供应量优于另外两个指标。

Firstly, we analysis the index of the money market by dynamic ways, then we set up the disequilibrium model of the money market. We adopt the method of VEC, contemporary we estimate the price adjust equation of the money market. The analytical results in this paper as follows: at present the money demand is greater than the money supply, and the disequilibrium gap trend enlarge gradually.

本文主要分析目前我国货币市场的非均衡状况，首先对货币市场相关指标进行动态分析，然后建立货币市场非均衡模型，采用的主要方法是误差修正模型，并估计货币市场的价格调节方程，通过对模型的分析和检验得出结论：我国目前货币需求量大于货币供给量，且非均衡缺口有逐渐扩大的趋势。

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