汇率的浮动程度 （ Exchange Rate Flexibility ） 1. (Variability of Payments) 从1965 年开始，学者利用计量的方法去寻找那些要素可以当做国际准备需求的 解释变数？
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无奈事与愿违，货币危机并未因此而远去。从某种程度上讲，这是因为此次向浮动汇率制的转变并不彻底。
However, currency crises didn't go away. In part, that was because the move to floating rates was not complete.
在周二，央行让人民币达到7.1413元兑一个美元，是最高水平，自从2005年1月打破固定汇率让它在管理的程度内自由浮动以来。
The central bank let the currency reach 7.1413 per dollar on Thursday, the highest level since it scrapped a dollar peg in July 2005 and allowed it to float in managed bands.
另外，本文的分析发现，一定程度的汇率干预在稳定国内冲击产生的经济波动方面比浮动汇率更优。
In addition, we find that moderate intervention on the exchange rate appears to be a better management tool tha...
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