他们发现，19世纪的资本流动往往追随着大规模的跨大西洋移民潮，这减轻了接收国实际工资和就业水平的下行压力。
They found that 19th century capital flows tended to follow the great cross-Atlantic migrations and this mitigated downward pressure on real wages and employment in the recipient countries.
“人们可能会争论说，渐进升值的政策实际上会刺激投机资本流入，从而挫败控制国内流动性状况的努力，”他表示。
"One could argue that the policy of gradual appreciation actually encouraged speculative inflows that frustrated attempts to control domestic liquidity conditions," he says.
文章在个体跨期最优模型中引入内生劳动力供给，并同时假定对资本流动存在限制，以此来分析实际汇率变动对就业的影响。
With the assumption of possible limitation existed on capital flow, in this article, we establish an optimizing inter-temporal agent model with endogenous labor supply incorporated.
然后又分析更贴近实际的情况，在资本不完全流动情况下资本流动与实际汇率无关的结果。
Discussing the near reality situation imperfect capital mobility, we find that there is no relationship between capital and real exchange rate.
这一理论实际上是以资本流动不受阻碍的自由竞争作为分析基础的。
In fact, free competition in which the capital can transfer unreservedly serves as the analytical basis of the principle.
这一理论实际上是以资本流动不受阻碍的自由竞争作为分析基础的。
In fact, free competition in which the capital can transfer unreservedly serves as the analytical basis of the principle.
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