如果预计数据略微改变,比如假设中国年经济增长率为6%,美国为3%,人民币年升值幅度为2%,则这一时刻的来临将推迟到2024年。
On a different set of assumptions—a Chinese growth rate of 6%, an American one of 3% and an appreciation of the yuan of 2% a year—the date slips to 2024.
假设乏力的GDP增长率在2020年为2.6%,与2010年的2.6%形成对比,名义税率已是4%而非2010年的2.8%,那么美国的债务到2020年上升为GDP的157%。
Assuming anaemic GDP growth of just 1.5% a year as opposed to 2.6%, and a nominal interest rate of 4% rather than 2.8%, us debt rises to 157% of GDP in 2020.
尽管早期研究中倾向于对空缺职位的增长率提出了假设,二人通过更基本的假设解决了这一问题,即工人和雇主的动机的假设。
Whereas earlier analysis had tended to make assumptions about the rate at which job vacancies arose, the two figured this out from more basic assumptions about the incentives of workers and employers.
所有的数据都假设每年的通胀为2%,每年的平均存款利率增长率为6%。
All these figures assume inflation of 2pc a year and that savings enjoy annual average growth of 6pc.
如果我们假设美国股息收益率会和GDP同样速度增加,那么实质增长率可能达到2.5%,因此总体实质回报会在4.5%左右。
If we assume that American dividends grow in line with GDP, that suggests a real growth rate of perhaps 2.5%, and thus a likely total real return of around 4.5%.
假设你有一个存款账户利息是5%,而你有另一个账户年增长率是12%,你又可以一点一点卖掉。那个更好?
Assume you have a savings account which pays 5%, or you have an account which grows at 12% a year and you can sell a little piece at a time, which way is better?
我们得出的一项重要结论是,美国实际出口对美国之外GDP增长率的弹性约为2,这意味着,假设其他条件不变,那么5%的国外GDP增长能够带来10%的美国出口增长。
Importantly, the estimated elasticity of real exports with respect to non-US GDP alone is about 2 - implying that, other things equal, 5% growth abroad will yield 10% growth in US exports.
我们得出的一项重要结论是,美国实际出口对美国之外GDP增长率的弹性约为2,这意味着,假设其他条件不变,那么5%的国外GDP增长能够带来10%的美国出口增长。
Importantly, the estimated elasticity of real exports with respect to non-US GDP alone is about 2 - implying that, other things equal, 5% growth abroad will yield 10% growth in US exports.
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