非流动性的

The crisis appears to be one of solvency rather than one of liquidity; banks, along with insurers of bonds and other securities, are undercapitalized and so, as I suggested last week, require a capital infusion rather than just a purchase of frozen assets.

这个危机似乎是一种偿付能力的危机而非流动性危机；银行，还有债券及其他证券的承保人，都面临着投资不足，因此就像我上周建议过，需要一种资本注入而非仅仅购买那些冻结的资产。

Could they ask to be paid for assuming illiquidity risk?

他们能够因为预想中的非流动性风险而要求赔偿吗？

The increased risk and illiquidity has also lead to a spike in volatility, contributing to the higher margins.

与日俱增的风险以及流动性降低引起了资产价格波动性，对于那些高保证金的非流动性资产尤其如此。

Stated-owned share and the letter stock in America, the results of positive studies by the acquisition discount of private companies′ studies approach on illiquidity discount, and reviews the limitation of the acquisition approach.

简述了流动性及流动性溢价的理论研究，讨论了国内的国有股等限制性股票与美国的注册股票之间的差异，综述了国际上收购方法实证非流动性价格折扣的结果，评述了收购方法实证的局限。

But all of these "non-money" assets are highly liquid so they are operationally similar to money.

但所有 这些"非货币"具有高度流动性的资产运作也就类似钱。

Second, banks with consistently large amounts of illiquid, level-three derivatives, a subset of the total, could be more vulnerable to financial-sector overhaul.

其次，那些持续拥有大量非流动性第三级衍生金融产品的银行，更有可能被金融业改革所淘汰。

This was pretty easy to do in an illiquid market.

这在非流动性市场上是很容易做到的。

Having observed how people, including himself, behaved in the real world, he was unself-conscious about incorporating into economic theory such unsystematized and untheorized concepts as "animal spirits"(and its opposite,"liquidity preference"--the desire to hoard cash rather than spend or invest it).

因为看到人们在现实世界里的行为方式，所以，他毫不难为情地就把一些非系统化的、非理论化的概念，加到了经济理论中，譬如&动物精神&。（以及它的对立面&流动性偏好&，这个词说的是：人们藏钱而非花钱或投资的需求。

Having observed how people, includinghimself, behaved in the real world, he was unself-conscious about incorporatinginto economic theory such unsystematized and untheorized concepts as"animal spirits"(and its opposite,"liquiditypreference"--the desire to hoard cash rather than spend or invest it).

因为看到人们在现实世界里的行为方式，所以，他毫不难为情地就把一些非系统化的、非理论化的概念，加到了经济理论中，譬如&动物精神&。（以及它的对立面&流动性偏好&，这个词说的是：人们藏钱而非花钱或投资的需求。

The difference between our model and present literatures is that we introduce simultaneously investors'endogenous liquidity risk and liquidity demand as a state variable so that model is more consistent with the fact that trading cost increases in executive size, especially in order-driven markets, and model randomizes the stock holding periods.

在一定条件下，模型得出三个命题：股票的流动性水平越低，则预期回报率越高，即显著的非流动性补偿；股票的三个流动性beta的绝对值越大，也就是股票的流动性风险暴露越大，则预期回报率越高，即显著的流动性风险溢价。

But we don't care about Battlegrounds.

但我们并不在乎沙场中的显露。

Ah! don't mention it, the butcher's shop is a horror.

啊！不用提了。提到肉，真是糟透了。