通货膨胀

Bollard said that inflation remained elevated, although declining commodity prices would bring inflation lower over time, and that further monetary easing will depend on inflation dropping.

波兰德说，通货膨胀率持续上升，但随着时间的推移，商品价格的下降将推动通货膨胀率的降低，并且进一步放松的货币政策也有利于通货膨胀率下降。

Inflation is an important index which weigh stabilization and healthiness of the macro-economy. The macro policy constitutor nearly pay attention to the condition of the inflation.

通货膨胀是衡量宏观经济运行是否稳定和健康的重要指标，因此宏观政策的制定者往往都密切关注通货膨胀率的高低，通货膨胀率的决定也便成为宏观经济学关注的焦点问题之一。

It starts from the social cost of inflation and various aspects of it.

本文旨在寻找最优的政策工具来控制通货膨胀，因此首先从通货膨胀的社会福利成本谈起，介绍了菜单成本、靴底成本、税收扭曲成本等概念含义，明确高通货膨胀对社会各个方面的影响，要保持经济的稳定健康发展，就必须控制通货膨胀。

With more empirical tests and crosscheck, we will draw conclusion on more solid base.

如通货膨胀预期和感受的异质性问题，学习模型在中国的应用问题，以及采用更多的实证分析方法对通货膨胀预期形成、通货膨胀预期对通货膨胀影响等进行研究，将研究结果交叉验证，从而取得更可靠的结论。

The crosscheck of several empirical tests suggests that inflation expectation is heavily influence by past actual inflation. The best way to anchoring inflation expectation is to maintain low and stable inflation all the time.

本论文中的几种检验都表明，我国消费者的通货膨胀预期在很大程度上受到通货膨胀历史情况的影响，要稳定通货膨胀预期的最佳方法就是始终保持低且稳定的通货膨胀率。

3 Money, inflation, deflation, disinflation, interest rates, the link between money

货币，通货膨胀，通货紧缩，制止通货膨胀，利率，货币供应量与通货膨胀之间

Treasury bond market, the interest- rate- transmission-effect-testing model has significant parameter estimation, displaying undeclinable influence of monetary policy on interest rate latent factors, negative effect on output and inflation, positive effect on short-term interest rate, and negative effect on long-term interest rate due to inflation expectation decreasing under positive shock of monetary policy.

对于美国为代表的成熟金融市场，利率效应检验的利率期限结构模型参数估计具有高显著性，货币政策对利率潜在因素的影响无法忽略，对产出和通货膨胀都产生负效应，对短期利率产生正向影响、对长期利率则产生负向影响——因为货币政策正冲击显示了货币当局对通货膨胀率的调控态度，长期利率会因预期通货膨胀的下滑而降低。

First of all, it reviews the academic viewpoints around the causes and the governance of last inflation, although the different viewpoints have explained this inflation from one side, but haven't reached a consensus. Through the analysis of the data of the economic operation, compared with all the inflations since reform and opening up and the global economic situation, it makes a summary of the basic characteristics of the current round of inflation, and analyzes the direct causes of the current round of inflation as well as the underlying causes.

首先对学术界围绕我国上一轮通货膨胀成因及治理的争论进行综述，虽然各种观点都从一个侧面阐释了本轮通货膨胀的成因，但没有取得共识，通过对经济运行数据的分析，与改革开放以来历次通货膨胀情况的纵向比较、与全球经济形势的横向比较，概括了本轮通货膨胀的基本特征，探讨了本轮通货膨胀的直接成因以及深层原因。

They could suffer catastrophic losses if the treasuries are repriced. The 10-year treasury is yielding 4 per cent, against 4.1 per cent inflation in the US last year, and probably higher this year. The market still doesn't believe the current inflation rate will stick. When it wakes up to the inflation reality, the 10-year treasury may yield over 6 per cent and its nominal value could decline by 40 per cent.

一旦外汇资产价格波动，那将会给这三个国家带来不可估量的损失。10年之间，持有的外汇资产可能会带来4％的收益，但这相对于美国4.1%或者更高的通货膨胀率来说，实在是不太划算，并且从市场运行状况来看，通货膨胀继续恶化的趋势似乎没有听下来的迹象，当真正面对实际通货膨胀率时，10期间的外汇资产带来的收益也就是6％左右，但通货膨胀引发外汇资产的贬值额度却达40％之多。

They could suffer catastrophic losses if the treasuries are repriced. The 10-year treasury is yielding 4 per cent, against 4.1 per cent inflation in the US last year, and probably higher this year. The market still doesn't believe the current inflation rate will stick. When it wakes up to the inflation reality, the 10-year treasury may yield over 6 percent and its nominal value could decline by 40 per cent.

一旦外汇资产价格波动，那将会给这三个国家带来不可估量的损失。10年之间，持有的外汇资产可能会带来4％的收益，但这相对于美国4.1%或者更高的通货膨胀率来说，实在是不太划算，并且从市场运行状况来看，通货膨胀继续恶化的趋势似乎没有听下来的迹象，当真正面对实际通货膨胀率时，10期间的外汇资产带来的收益也就是6％左右，但通货膨胀引发外汇资产的贬值额度却达40％之多。

I can not make it blossom and suits me

我不能让树为我开花

When temperatures are above approximately 80 °C discolouration of the raceways or rolling elements is a frequent feature.

当温度高于 80 °C 左右时，滚道或滚动元件褪色是很常见的特征。