货币局制度

本文所研究的货币局制度是IMF所定义的8种汇率制度之一。

The Currency Board Arrangement ( CBA ) that the thesis studies is one of the eight categories of exchange rate systems that IMF defines .

货币局制度及其基本运行特征

On the Currency Board Institution and the Fundamental Characteristics of its Operation Mechanism

货币局制度：阿根廷危机的根源

Currency Board Agreements : the Cause of Crisis in Argentina

澳新银行表示，它有信心香港将保持货币局制度。

ANZ said it remained confident that the system would stay in place .

当代货币局制度的运行特征分析

On the Characteristics of Contemporary Monetary Authority System

货币局制度货币风险与市场预期&兼谈香港的实践

Currency Risk and Market Expectation under Currency Board System & A Discussion of Hong Kong 's Experience

本文用利率升水和期限升水来衡量货币局制度下的货币风险。

This paper uses interest rate premium and term premium to measure currency risk under currency board system .

从目前各国汇率制度安排的现状来看，重两极，轻中间现象十分明显，货币局制度作为两极中的一个重要组成部分，在整个国际汇率制度发展过程中具有重要作用。

As an essential part of fixed exchange rate system , CBA plays an important role in the history of the international exchange rate system .

因此，政府可以采取措施，改变政府的损失函数，更好地坚持货币局制度。

The currency board system is a confident system , so government can take measures to charge the loss function and stick to currency board system better .

香港的联系汇率制于1983年10月17日正式建立。作为货币局制度的一种变体，香港的联系汇率制是一种极端的固定汇率制度。

Hong Kong has formally established the linked exchange rate regime on October 17 , 1983 . As a variant of currency board arrangements , the regime is a strong form of fixed exchange rate system .

委员会留意到货币发行局制度一直有效运作。

Members observed that the currency board arrangements were working effectively .

本港的联系汇率制度是一种货币发行局制度。

Hong Kong 's Linked Exchange Rate system is a Currency Board system .

因此，香港并无偏离货币发行局制度的规律。

There is therefore no departure from the discipline of currency board arrangements .

香港所奉行的货币发行局制度是属于后者。

Hong kong , operating a currency board system , falls in the latter category .

货币发行局制度的宏观经济效应&以中国香港和阿根廷为分析个案

Macroeconomic Effect of Currency Board System

再者，作为维持固定汇率的机制，货币发行局制度本身是最稳健的安排。

Moreover , the mechanism for maintaining that fixed exchange Rate-through currency board arrangements-is most robust .

这项对货币发行局制度的结构性改革，是史无前例的。

This structural change to the currency board arrangements has no precedent anywhere in the world .

在稳健而规范化的货币发行局制度下，货币基础数额一直保持稳定。

The size of the monetary base has remained stable under our robust and rule-based currency board system .

现代货币发行局制度的结构应该是怎样的一个课题，是没有先例可援的。

No precedents were available to show us how a modern day currency board system should be structured .

我们会继续听取各界提出的建设性意见，以加强在货币发行局制度下的货币管理系统。

We shall continue to listen to constructive ideas for strengthening our monetary management system under the currency board arrangement .

上世纪90年代末，保加利亚引入了货币发行局制度，消除了恶性通胀并从金融危机中复苏。

In the late 1990s Bulgaria rid itself of hyperinflation and recovered from financial collapse by introducing a currency board .

阿根廷爆发的金融危机再次引起人们对货币发行局制度的宏观经济效应的关注。

Recently the Argentina Financial Crisis caused the world to focus the attention on the macroeconomic effect of currency board system .

在货币发行局制度下，港元汇率通过利率调节机制得以维持稳定。

Under the currency board system , Hong Kong dollar exchange rate stability is maintained through an interest rate adjustment mechanism .

从理论和实践两个方面指出，货币发行局制度确实对于宏观经济的稳定发展有着良好的作用，但亦存在相当大的负面影响。

It can be concluded that currency board system could bring stability to macroeconomic system although it may cause some side effect .

作为一位职业公务员，任志刚于1983年参与了香港货币发行局制度的创建。

A career civil servant , Mr Yam was involved in the establishment of the city 's currency board in the 1983 .

事实上，金管局内只有小部分职员负责货币发行局制度的日常运作。

In fact , only a quite small percentage of our staff time is devoted to day-to-day operations of the currency board .

当港元面对最近一轮的冲击时，货币发行局制度证明能有效发挥作用。

In the recent round of attacks on the Hong Kong dollar , the currency board system has proven to be most effective .

金管局推出七项强化香港货币发行局制度的技术性措施，至今已有一年多的时间。

It has been just over a year since the seven technical measures to strengthen the currency board system of Hong Kong were introduced .

面对总结馀跌至负数，市场运作仍然极为畅顺，显示货币发行局制度运作有效。

The market response to the negative aggregate balance had been very smooth and had demonstrated that the currency board system was working efficiently .

很明显，货币发行局制度能成功维持香港汇率稳定，香港市民才是真正的幕后英雄。

Very clearly , they are the true heroes behind the success of the currency board system in maintaining exchange rate stability in Hong kong .