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1·In recent years, RMB's nominal exchange rate deviates obviously the equilibrium exchange rate, and international shouts to revalue RMB are more and more high.

近年来我国名义汇率偏离均衡汇率的失调程度加大，国际上对我国人民币升值的呼声也越来越高。

2·If they should decide to reduce the current account surplus, should they allow faster appreciation of the nominal exchange rate or overheating and faster inflation?

如果他们决定减少经常账户盈余，那么他们是否应该允许名义汇率更快上升，或是经济过热和通胀加速？

3·The answer seems simple: save less and let the nominal exchange rate appreciate faster, to eliminate possible inflationary consequences of such a policy shift.

答案似乎很简单：减少储蓄，让名义汇率更快上升，以消除这种政策转变可能带来的通胀后果。

4·The real exchange rate adjusts the nominal exchange rate-the one you normally see quoted-by taking into account changes in the price levels in the two countries involved.

实际汇率是把两国的物价水平考虑在内经过调整的名义汇率，你通常看到引用的是名义汇率。

5·In an emerging economy with rapid productivity growth the real exchange rate should rise over time, through either higher inflation or a rise in the nominal exchange rate.

在一个生产率迅速增长的新兴经济体国内，其实际汇率也会随着时间的推移而上升，方式则可能要么通过高通货膨胀率，要么就是名义汇率的上升。

6·Even ignoring the fallacy of competitive devaluation, this claim assumes that the nominal exchange rate on its own is a reliable measure of an economys competitiveness.

即使我们撇开竞争性贬值的谬误不谈，这个意见假设名义汇率本身是评估经济竞争力的可靠指标。

7·In researching RMB equilibrium exchange rate, we proposed the conception of RMB nominal exchange rate stickiness and carried on an empirical research to it with the data.

在研究人民币汇率均衡时，我们提出了人民币名义汇率粘性这一概念，并利用数据对其进行了实证检验。

8·Money shock is more influential than nominal exchange rate and import price on domestic inflation fluctuation, but it is not the main course of producer price fluctuation.

货币供应量波动对国内价格水平的影响力要强于名义汇率和进口价格波动，而且是导致消费者价格波动的主要原因之一。

9·The result is that the pass-through of RMB nominal exchange rate into China 's import price and consumer price is statistically significant, but the degree is highly incomplete.

估计结果显示，人民币有效汇率对我国进口价格和消费者价格的影响虽然具有统计显著性，但影响程度非常低。

10·Therefore to achieve a sound balance of payment is to seekequilibrium exchange rate of a currency and then to adjust nominal exchange rateto a stable equilibrium level by all means.

所以，要实现国际收支均衡的核心就是寻找货币的均衡汇率，再通过各种手段调节、干预名义汇率稳定在均衡汇率的水平上。