货币锚

其中一个主要困难是缺乏轴心国和货币锚，这为后文研究东亚货币合作中人民币与日元的关系做好了铺垫。

Lacking of Axis powers and currency anchor are major problems of the regional currency cooperation .

首先，只要固定汇率是可信的&就像1995年至2004年间维持在1美元兑8.28元人民币那样，它就可以有效地充当中国国内价格水平的货币锚（monetaryanchor）。

First , as long as the fixed rate is credible - as it was between 1995 and 2004 at 8.28 yuan per dollar - it served as an effective monetary anchor for China 's internal price level .

罗纳德麦金农（ronaldmckinnon）会认为，政府在推行一项合理的汇率政策，以此作为一个货币锚定手段，而国际收支盈余过剩完全是储蓄过剩的结果。

Ronald McKinnon would argue that the state is pursuing a rational policy of fixing exchange rates , as a monetary anchor , while the balance of payments surpluses are simply the result of excess savings .

研究结果在一定程度上表明，人民币在东亚地区的货币锚地位已经开始显现。

The results showed that to some extent , the currency in the Asean regional monetary anchor position already began to emerge .

被选上作货币锚的往往都是主要贸易夥伴的货币，此外，采用一篮子货币作货币锚亦颇常见。

The currency of the major trading partner is often chosen as the anchor currency , although the use of a currency basket is also quite common .

剧烈波动的原因是，由于缺乏任何官方的货币之锚，比特币只存在于物物交换或投机的背景之下，但当交易和炒作终止时，一切围绕比特币的喧嚣也将偃旗息鼓。

The reason for this is that bitcoins , due to their lack of any official anchor , exist only in the context of barter or speculation , and when the transactions and hype stop , so does the music .

然后理论分析东亚次区域货币合作中锚货币的选择问题。

Then the theoretical analysis of the choice of the anchor currency in East Asia sub-regional monetary cooperation .

在这种背景下，将通货膨胀目标作为我国货币政策的名义锚具有一定的合理性。

Against this background , it is will be a rational choice for our country to take inflation target reducing as the nominal anchor of our monetary policy .

东亚地区并不具备拉美国家90年代时进行美元化的经济与政治基础，美元作为东亚进行货币合作的唯一货币锚并不现实。

As East Asia does not have the economic and political basis that Latin America had when Latin America adopted dollarization , the idea is not realistic that the USD stands as the only monetary anchor in the East Asian monetary cooperation .

开放条件下货币政策目标规则的比较&一个简单的理论框架与中国货币政策名义锚的选择

The Comparison between Monetary Policy 's Targeting Rule in Open Economics : a Simple Theoretical Framework and the Choice of Nominal Anchor in China