皮鞋成本：当通货膨胀鼓励人们减少货币持有量时所浪费的资源。
Shoeleather costs are the resources wasted when inflation encourages people to reduce their money holdings.
理论上，几个国家可以以集团的方式共同持有外汇储备，这样就比各国单独持有外汇储备所需要的储备货币量要少。
In theory, groups of countries could pool reserves, so that a smaller amount would suffice than if countries each maintain their own buffers.
减少持有量；出笼：把一个物品回放于实物流通或货币流通之中，使其能够流通，被消费或发挥其应有的作用。
Dishoarding: returning an item to either the real flow or the money flow so that it can be circulated consumed or otherwise used in its intended function.
减少持有量；(货币)出笼：把一个物品回放于实物流通或货币流通之中，使其能够流通、被消费或发挥其应有的作用。
Dishoarding: returning an item to either the real flow or the money flow so that it can be circulated consumed or otherwise used in its intended function.
货币供应量不断增长的另一部分原因在于，目前持有货币的机会成本较低，近几个月来，M1的同比增长尤其迅速。
On the other hand, it reflects the low opportunity cost of holding money, as signalled in particular by the rise in the annual growth rate of M1 in recent months.
相比之下，家庭持有的广义货币量的增长速度之慢却令人担忧，而且非金融私营企业持有的广义货币量实际上还一直在下滑(如上图)。
By contrast, the broad money held by households has risen at a worryingly slow rate over the past year, and holdings by private non-financial firms have actually been dropping (see chart).
相比之下，家庭持有的广义货币量的增长速度之慢却令人担忧，而且非金融私营企业持有的广义货币量实际上还一直在下滑(如上图)。
By contrast, the broad money held by households has risen at a worryingly slow rate over the past year, and holdings by private non-financial firms have actually been dropping (see chart).
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