但主编认为我的帖子对实际汇率显然是持的双边观点。
But my editor makes the point that my post on the subject takes a decidedly bilateral view of real exchange rates.
巴西对资本转移强加税收，以阻止实际汇率增值过多。
Brazil imposed a tax on theflightier sorts of foreign capital to stop the real from appreciating too much.
这是因为实际汇率把两国之间的相对物价波动也计算在内。
The real exchange rate takes account of price movements in both the United States and China.
随着国家变得富裕，生产力水平提高，实际汇率也会水涨船高。
As countries get richer and their productivity rises, their real exchange rates appreciate.
实施改变均衡实际汇率本身的政策可能会更为有效。
It would be more efficient to implement policies that would change the equilibrium real exchange rate itself.
这取决于一个国家的经济（规模）、增长率以及实际汇率的升值情况。
That depends on the size of a country’s economy, its growth rate and the appreciation of its real exchange rate.
由于对维护新的汇率水平很有把握，实际汇率大大提高了。
The real exchange rate was significantly increased with assurance that the new level would be maintained.
特别是2007年以来，人民币实际汇率有轻微高估趋势。
Especially 2007 later, RMB real exchange rate has a little overvalued.
要求人民币升值的理由之一就是人民币实际汇率存在低估。
The reason that some peoples think that the Chinese government should appreciate RMB exchange rate is that RMB exchange rate has been underestimated.
其短期影响是，目的国实际汇率上升，经常账户赤字大幅增长。
The short-term effect is an appreciation of real exchange rates and soaring current account deficits in destination countries.
实际汇率的形成和变化都是由外汇市场上的供求关系决定的。
The formation of the real rate of exchange with change to all relate to the decision from the foreign exchange market's supply and demand.
而实际汇率错位水平对中美出口贸易则产生了显著的负向影响。
While the mismatch level of RMB real exchange rate brings dramatic negative effect on Sino-US export trade.
贬值导致了短期内真实的跌价，但是它对长期实际汇率并无影响。
A devaluation leads to a real depreciation in the short run but has no effect on the real exchange rate in the long run.
我们两周前发表报道，建立在单位劳工成本基础上对中国实际汇率进行了衡量。
Two weeks ago, we unveiled a measure of the Chinese real exchange rate based on unit labour costs.
我的结论是，要求中国实际汇率升值，从全球的视野来看，是有道理的。
My conclusion is that the case for an appreciation of the Chinese real exchange rate has merit, from a global perspective.
IMF：尽管90年代后期你取得了巨大成就，但你的实际汇率自此几乎没有巩固。
IMF: But your real exchange rate has barely strengthened since the late 1990s, despite all the progress you've made since then.
资本从国外流入以及主要出口品的国际价格猛烈上升，也造成实际汇率提高。
Capital inflows from abroad and sharp increases in the world prices of key exports also cause the real exchange rate to appreciate.
第三，一旦实际汇率与实际均衡汇率错配，将如何进行制度重构与政策修正。
The third is how to reconstruct the exchange rate system if it exists the misalignment of real exchange rate and real equilibrium exchange rate.
这一政策表达出一种清晰的含意：实际汇率的调整，应该经由美国国内物价的下跌来实现。
The implication of this policy is clear: adjustments in real exchange rates should occur via falling US domestic prices.
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。
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.
为了持续赶超美国，中国需要将经济由出口拉动调整为消费拉动，这就需要人民币实际汇率提高。
To sustain its catch-up with America, China needs to rebalance its economy away from exports towards consumer spending, which will require a rise in its real exchange rate.
本文将非线形的实际汇率运动引入我国的实际汇率与实际利差两者相互关系的研究中。
This paper introduces threshold nonlinearity into RMB to investigate the relationship between real exchange rate and real interest differentials.
随着经济的强劲增长以及人民币实际汇率的大幅升值，中国经济在全球中所占份额近年来迅速提高。
With strong real growth and substantial real appreciation, China's share in the world economy has surged in recent years.
实际汇率反映对具有均衡性质的购买力平价的偏离，成为判定一国汇率水平高低的标准。
The real rate of exchange reflects the deviation the purchasing power par with a balanced nature.
人民币实际汇率低估促进中国经济增长，而人民币实际汇率高估则将阻碍中国经济增长。
The undervalued of RMB exchange rate will promote China's economic growth, while the overvalued of RMB real exchange rate will hinder China's economic growth.
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.
自1990年以来（见表2），日元连年贬值加上其国内温和的通货膨胀使得日元实际汇率低于平均值。
Years of falling prices in Japan combinedwith modest inflation elsewhere mean the real effective exchange rate is belowits average since 1990 (see chart 2).
此外，人民币兑g - 3货币的实际汇率与我国农产品出口额之间也存在着显著的相关关系。
In addition, the RMB against G-3 currencies real exchange rate also exist the significant correlation with the exports of agricultural products.
但是，根据经济学人的计算(见图表)，自2005年以来，中国对美国的实际汇率已经上升了大约50%。
But China's real exchange rate with America has strengthened by almost 50% since2005, according to calculations by the Economist (see chart).
他们认为，浮动汇率制度下名义汇率和实际汇率的频繁波动将不可避免地导致国际贸易量的减少。
They believe that the frequent fluctuation of nominal and real exchange rates under the floating exchange rate regime will inevitably lead to the reduction in the volume of international trade.
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