曼昆宏观经济学名词解释（中英文）

Diversification:the reduction of risk achieved by replacing a single risk with a large number of smaller unrelated risks.

多元化：通过用大量不相关的小风险代替一种风险来降低风险。

Idiosyncratic risk: risk that affects only a single economic actor. 企业特有风险：只影响一个公司的风险。

Aggregate risk: risk that affects all economic actors at once. 市场风险：影响股市上所有公司的风险。

Fundamental analysis: the study of a company’s accounting statements and future prospects to determine its value.

基本面分析：为决定一家公司的价值而对其会计报表和未来前景进行的研究。

Efficient markets hypothesis: the theory that asset prices reflect all publicly available information about the value of an asset. 有效市场假说：认为资产价格反映了关于一种资产价值的所有公开的、可获得的信息的理论。

Informationally efficient: reflecting all available information in a rational way. 信息有效：以理性方式反映所有可获得的信息的有关资产价格的描述。

Random walk: the path of a variable whose changes are impossible to predict. 随机行走：一种变量变动的路径是不可预期的。

第二十章 UNEMPLOYMENT AND ITS NATURAL RATE 失业和自然失业率

Labor force is the total number of workers, including both the employed and the unemployed. 劳动力：既包括就业者又包括失业者的工人总数。

Unemployment rate is the percentage of the labor force that is unemployed. 失业率：劳动力中失业者所占的百分比。

Labor-force participation rate is the percentage of the adult population that is in the labor force. 劳动力参工率：劳动力占成年人口的百分比。

Natural rate of unemployment is the normal rate of unemployment around which the unemployment rate fluctuates.

自然失业率：失业率围绕它而波动的正常失业率。

Cyclical unemployment is the deviation of unemployment from its natural rate. 周期性失业：失业率对自然失业率的背离。

Discouraged workers are individuals who would like to work but have given up looking for a job 丧失信心的工人：想工作但已放弃寻找工作的人。

Frictional unemployment is the unemployment that results because it takes time for workers to search for the jobs that best suit their tastes and skills.

摩擦性失业：由于工人寻找最适合自己嗜好和技能的工作需要时间而引起的失业。

Structural unemployment is the unemployment that results because the number of jobs available in some labor markets is insufficient to provide a job for everyone who wants one. 结构性失业：由于某些劳动市场上可提供的工作岗位数量不足以为每个想工作的人提供工作而引起的失业。

Job search is the process by which workers find the appropriate jobs given their tastes and skills 寻找工作：在工人的嗜好与技能既定时工人寻找适当工作的过程。

Unemployment insurance is a government program that partially protects workers’ incomes when they became unemployed.

失业保险：当工人失业时为他们提供部分收入保障的政府计划。

Union is a worker association that bargains with employers over wages and working conditions 工会：与雇主就工资、津贴和工作条件进行谈判的工人协会。

Collective bargaining is the process by which unions and firms agree on the terms of employment.

集体谈判：工会和企业就就业条件达成一致的过程.

Strike is the organized withdrawal of labor from a firm by a union 罢工：工会组织工人从企业撤出劳动。

Efficiency wages are above-equilibrium wages paid by firms in order to increase worker productivity

效率工资：企业为提高工人生产率而支付的高于均衡水平的工资。

第二十一章 THE MONETARY SYSTEM 货币制度

Money is the set of assets in an economy that people regularly use to buy goods and services from other people.

货币：经济中人们经常用于向其他人购买物品与劳务的一组资产。

Medium of exchange is an item that buyers give to sellers when they want to purchase goods and services.

交换媒介：买者在购买物品与劳务时给予卖者的东西。

Unit of account is the yardstick people use to post prices and record debts. 计价单位：人们用来表示价格和记录债务的标准。

Store of value is an item that people can use to transfer purchasing power from the present to the future.

价值储藏手段：人们可以用来把现在的购买力转变为未来的购买力的东西。

Liquidity is the ease with which an asset can be converted into the economy’s medium of exchange.

流动性：一种资产兑换为经济中交换媒介的容易程度。

Commodity money is money that takes the form of a commodity with intrinsic value. 商品货币：以有内在价值的商品为形式的货币。

Fiat money is money without intrinsic value fiat is used as money because of government decree. 法定货币：没有内在价值、由政府法令确定作为通货使用的货币。

Currency is the paper bills and coins in the hands of public. 通货：公众手中持有的纸币钞票和铸币。

Demand deposits are balances in bank accounts that depositions can access on demand by writing a check.

活期存款：储户可以通过开支票而随时支取的银行账户余额。

Federal reserve(Fed）：the central bank of the United States. 联邦储备：美国的中央银行。

Central bank: an institution designed to oversee the banking system and regulate the quantity of money in the economic.

中央银行：为了监管银行体系和调节经济中的货币量而设计的机构。

Money supply is the quantity of money available in the economy. 货币供给：经济中可以得到的货币量。

Monetary policy is the setting of the money supply by policymakers in the central bank 货币政策：中央银行的决策者对货币供给的安排。

Reserves are deposits that banks have received but have not loaned out. 准备金：银行得到但没有贷出去的存款。

Fractional-reserve banking is a banking in which banks hold only a fraction of deposits as reserves

部分准备金银行：只把部分存款作为准备金的银行制度。

Reserve ratio is the fraction of deposits that banks hold as reserves. 准备率：银行作为准备金持有的存款比例。

Money multiplier is the amount of money the banking system generates with each dollar of reserve

货币乘数：银行体系用1美元准备金所产生的货币量。

Open-market operation is the purchase and sale of U.S. government bonds by the Fed. 公开市场活动：美联储买卖美国政府债券。

Reserve requirements are regulations on the minimum amount of reserves that banks must hold against deposits

法定准备金：关于银行必须根据其存款持有的最低准备金量的规定。

Discount rate is the interest rate on the loans that the Fed to banks. 贴现率：美联储向银行发放贷款的利率。

第二十二章 MONEY GROWTH AND INFLATION 货币增长与通货膨胀

Quantity theory of money:a theory asserting that the quantity of money available determines the price level and that the growth rate in the quantity of money available determines the inflation rate 货币数量论：一种认为可得到的货币量觉决定物价水平，可得到的货币量的增长率决定通货膨胀率的理论。

Nominal variables are variables measured in monetary units. 名义变量：按货币单位衡量的变量。

Real variables are variables measured in physical units. 真实变量：按实物单位衡量的变量。

Classical dichotomy is the theoretical separation of nominal and variables. 古典二分法：名义变量和真实变量的理论区分。

Monetary neutrality is the proposition that changes in the money supply do not affect real variables.

货币中性：认为货币供给变动并不影响真实变量的观点。

Velocity of money is the rate at which money changes hands. 货币流通速度：货币易手的速度。