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-- by 会员 蓝柏 (2013/3/3 13:36:10)
蓝柏 刚才提到的那篇gwd我这边贴给你,可以和狗主确认下,希望能帮到大家:)
Many economists believe that a 很多经济学家相信,美国高企业储
high rate of business savings in the 蓄率是投资的必要先兆,因为企业 United States is a necessary precursor 积蓄与个人积蓄不同,几乎包含了 Line toinvestment, becausebusiness sav- 国家储蓄率的4分之3,而国家储 (5) ings, as opposed to personal savings, 蓄率极大影响商业投资的整体比率 comprisealmost three-quarters of the nationalsavings rate, and the national savingsrate heavily influences the overallrate of business investment. (10) These economists further postulate 这些经济学家进一步假定真实利率 that realinterest rates—the difference -贷率与通胀率之差-在国家储蓄超 between therates charged by lenders 过商业投资(造成储蓄过剩)的情况 and theinflation rates—will be low when 下会较低,反之较高。 nationalsavings exceed business (15) investment (creating a savings surplus), and high when national savings fall below thelevel of business investment (creating asavings deficit ). However, 然而,在1960’s,真实利率在国家 duringthe 1960’s real interest rates 储蓄过剩的情况下经常较高。 (20) wereoften higher when the national savingssurplus was large. Counter- 相反的情况同样发生,从1980到 intuitive behavior also occurred when 1982年,虽然国家储蓄与投资大 realinterest rates skyrocketed from 体持平,真实利率从2%飙升至7% 2 percentin 1980 to 7 percent in 1982, (25) even though national savings and investmentswere roughly equal throughoutthe period. Clearly, real 很明显,真实利率并非受储蓄/投资 interestrates respond to influences 关系的影响。 other thanthe savings/investment (30) nexus. Indeed,real interest rates may 确实,真实利率可能本身就影响储 themselvesinfluence swings in the 蓄和投资率的波动。 savings andinvestment rates. As real 当真实利率在1979年后猛升,外 interest rates shot up after 1979, for- 国投资者向美国灌输资金,国内 eigninvestors poured capital into the 商品价格在国外升得可怕,而国内 (35) United States, the price of domestic 的外国商品价格变得更低。 goodsincreased prohibitively abroad, and theprice of foreign-made goods becamelower in the United States. As 结果,国内经济活动与企业储蓄 a result, domestic economic activity 投资能力受到限制。 (40) and the ability of businesses to save and investwere restrained. |
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