是的,“U”型指的是未知的名义增长率。
Yes, type "U" refers to Unknown for the Nominal Annual Rate.
但很明显,一旦名义利率下降到零美联储会受约束,因此经济恢复到趋趋向增长率,但不会在金融冲击下恢复所受损失。
But obviously the Fed is constrained once nominal rates hit zero, and so the economy returns to its trend growth rate but never recovers the ground lost during the financial shock.
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.
它注意到全球利率水平仍低于名义GDP增长率,而在通胀盛行的80年代和90年代,利率通常是更高的。
It notes that global interest rates are still well below nominal GDP growth (see chart), whereas throughout the inflation-busting 1980s and 1990s they were mostly higher.
第一是因为名义上在国债收益率与GDP增长率之间存在一个粗略的关系:如果GDP一年计划增长5%的话,那么10年期的国债收益率应该在3.3%左右。
First there is normally a rough relationship between yields, currently 3.3% for ten-year Treasury bonds, and nominal GDP growth projected at around 5% a year.
当NGDP在某年低于目标增长率时,中央银行会在接下来数年想法弥补:实际上就是通过控制名义支出以达到目标。
If nominal GDP fell below the target growth rate in one year, central Banks would seek to make up for that in subsequent years - in effect, following a path for overall nominal spending.
通货紧缩的货币成因有以下几个方面:1 。货币供应增长率下降,导致名义总需求疲软;
The monetary causes of deflation are the follows:1. The increase rate of money supply is declining, which weakens aggregate demand;
通货紧缩的货币成因有以下几个方面:1 。货币供应增长率下降,导致名义总需求疲软;
The monetary causes of deflation are the follows:1. The increase rate of money supply is declining, which weakens aggregate demand;
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