Plaza Accord

The Analysis on the Background , Content and Implementation of " Plaza Accord "

广场协议的背景、实质及实施效果分析

Determinant of foreign currency exchange rate & changes in mathematical model and plaza accord

外币汇率的决定因素&变动数学模型与广场协议

We know this because the Plaza Accord targeted two countries with bulging current account surpluses .

我们之所以这么说，是因为《广场协议》针对的其实是两个经常账目盈余不断膨胀的国家。

In any case , Chinese officials often argue that the Plaza Accord was disastrous for Japan .

中国官员经常声称，广场协议给日本造成了灾难性后果。

Forex traders convinced themselves last week that another Plaza Accord is in the offing .

外汇交易员们上周确信，另一个广场协议就要产生了。

In1985 under the Plaza Accord the Japanese yen immediately appreciated , heating up its real estate market .

在日本1985的广场协议下，日元迅速增值，使房地产市场升温。

Now , given that , it might seem tempting in retrospect to conclude that the Plaza Accord was a bad idea .

鉴于以上事实，现在回顾历史时，很容易得出《广场协议》是一个坏主意的结论。

After the plaza accord between the big industrial countries in1985 , the Japanese yen rose by80 % against the dollar in three years .

在1985年，西方主要工业国达成广场协议之后，日元对美元的汇率在三年内上升了80%。

In real , inflation-adjusted terms , by mid-2007 it was back precisely where it was on the eve of the Plaza Accord .

在2007年年中，经通胀因素调整后的日元实际汇率恰好回到了广场协议签订前夕的水平。

Many economists , however , caution not to expect any sort of grand bargain similar to the 1985 Plaza Accord , which addressed the value of the U.S. dollar .

然而，许多经济体非常谨慎，不期望达成像1985年广场协议那样的一致。当时的协议确定了美元的价值。

Even to achieve the Plaza Accord took a committed diplomatic effort by the us to corral European members of the G5 France , Germany and the UK and strong-arm Japan into co-operating .

当年为了促成广场协议，美国全力进行外交斡旋，才说服g5中的欧洲国家（法国、德国和英国）以及强硬的日本采取合作态度。

In the mid-1980s , Japan used expansionary monetary policy in response to the impact of Yen appreciation after the " Plaza Accord " . However , excess liquidity prompted a sharp rise in asset prices , Japan entered a bubble-economic period .

20世纪80年代中期，日本被迫签订了广场协议，其后，日本实行扩张性的货币政策以应对日元升值的影响，然而过剩的流动性促使资产价格大幅度上涨，日本经济发展进入泡沫化阶段。