宏经名词解释

3.Disposable income：Income remaining after the payment of taxes. 可支配收入：税后收

入。

4.Marginal propensity to consume (MPC) ：The increase in consumption resulting

from a one-dollar increase in disposable income.

边际消费倾向：可支配收入增加1美元时所引起的消费增加。

5.Real interest rate ：The return to saving and the cost of borrowing after adjustment

for inflation.

实际利率：根据通货膨胀调整之后的储蓄收益和借贷成本。

6.Inflation ：An increase in the overall level of prices.

通货膨胀：价格总体水平的上升。

7.Hyperinflation：Extremely high inflation.

恶性通货膨胀：极高的通货膨胀。

8.Money: The stock of assets used for transactions.

货币：用于交易的资产存量。

9.Fiat money: Money that is not intrinsically useful and is valued only because it is

used as money.

法定货币：本质上无用而是由于用作货币才有价值的货币。

modity money: Money that is intrinsically useful and would be valued even if it

did not serve as money.

商品货币：本质上有用的货币，即使不作为货币也会受珍视的物品。

11.Money supply: The quantity of money available in an economy.

货币供给：一个经济中可以得到的货币量。

12.Quantity equation: The identity stating that the product of the money supply and the

velocity of money equals nominal expenditure (MV = PY ); coupled with the assumption of stable velocity, an explanation of nominal expenditure called the quantity theory of money.

数量方程：表示货币供给与货币流通速度的乘积等于名义支出的恒等式

（MV=PY）；加上稳定的货币流通速度的假设，这一方程对名义支出的解释称

为货币数量论。

13.Income velocity of money: The number of t imes a dollar bill enters someone’s income

in a given period of time.

货币的收入流通速度：在一个给定时期一张美元钞票进入某个人收入的次数。

14.Real money balances: The quantity of money expressed in terms of the quantity of

goods and services it can buy; the quantity of money divided by the price level (M/P).

实际货币余额：用能购买的产品与服务的数量来表示的货币量；货币量除以价

格水平（M/P）。

15.Seigniorage: The revenue raised by the government through the creation of money;

also called the inflation tax.

货币铸造税：政府通过创造货币而筹集到的收入；又称“通货膨胀税”。

16.Fisher effect: The one-for-one influence of expected inflation on the nominal interest

rate.

费雪效应：预期通货膨胀对名义利率一对一的影响。

17.Fisher equation: The equation stating that the nominal interest rate is the sum of the

real interest rate and expected inflation ( i = r + Eπ).

费雪方程：这一方程规定，名义利率是实际利率与预期通货膨胀率之和( i = r + Eπ).

18.Shoeleather cost: The cost of inflation from reducing real money balances, such as the

inconvenience of needing to make more frequent trips to the bank.

鞋底成本：减少实际货币余额引起的通货膨胀成本，例如，需要更频繁地光顾银行带来的不方便。

19.Menu cost: The cost of changing a price.

菜单成本：价格调整的成本。

20.Classical dichotomy: The theoretical separation of real and nominal variables in the

classical model, which implies that nominal variables do not influence real variables.

(Cf. neutrality of money.)

古典二分法：古典模型中名义变量与实际变量在理论上的分离，它意味着名义变量不影响实际变量。

21.Monetary neutrality: The property that a change in the money supply does not

influence real variables.