金融学复习资料中英文对照

经济学：是研究一个社会如何决定生产，怎样生产和怎样分配的一门社会学科。

Economics：The study of how society decides what gets produced and how, and who gets what.
微观经济学：研究个体经济单位如个人、企业的行为决策。

Microeconomics ：The branch of economics that studies the behavior of individual decision-making units such as households and business firms.
宏观经济学：研究所有的个人、企业作为总体货总量时的行为决策。

Macroeconomics ：The branch of economics that studies the aggregate, or total, behavior of all households and firms.
金融：研究金融体系如何协调并融通借贷资金，以及金融中介在此过程中进行的资金创造。

Finance：The study of how the financial system coordinates and channels the flow of funds from lenders to borrowers—and vice versa—and how new funds are created by financial intermediaries during the borrowing process.
放松管制：废除或逐步撤销现有的管制。

Deregulation：The removing or phasing out of existing regulations.
货币：可以接受且通常用来交换商品和服务的交换工具。

Money：Something acceptable and generally used as payment for goods and services.
储蓄：收入中未被消费的部分。

Saving ：Income not spent on consumption.
盈余单位/盈余部门/（净）贷方/贷款者：收入大于支出的那些支出单位/部门。

Net Lenders：Spending units such as households and firms whose income exceeds their spending.
赤字单位/收入小于支出的支出单位/部门。

Net Borrowers：Spending units such as households and firms whose spending exceeds their income.金融市场：支出单位交易金融索取权的市场。

Financial Markets：Markets in which spending units trade financial claims.
直接融资：盈余单位/贷方直接将资金借给赤字单位/借方。

Direct Finance：When net lenders lend their funds directly to net borrowers.
金融机构：为借贷双方提供金融服务的企业；最重要的金融机构是金融中介。

Financial Institutions：Firms that provide financial services to net lenders and net borrowers; the most important financial institutions are financial intermediaries.
金融中介：联系资金借贷双方的金融机构。

Financial Intermediaries：Financial institutions that borrow from net lenders for the purpose of lending to net borrowers.
间接融资：金融中介从贷方获得资金后借给借方。

Indirect Finance：When net borrowers borrow from financial intermediaries that have acquired the funds to lend from net lenders.
违约：借方未能偿还金融债务。

Default：When a borrower fails to repay a financial claim.
交易成本：在借、贷或其他交易过程中产生的成本。

Transactions Costs：The costs associated with borrowing and lending or making other exchanges.
流动性：金融索取权可以比较容易的且不损失价值的转化成现金的特性。

Liquidity：The ease with which a financial claim can be converted to cash without loss of value.
储蓄机构：发行支票存款的金融中介。

Depository Institutions：Financial intermediaries that issue checkable deposits.
支票存款：客户只需签一张支票即可提款。

Checkable Deposits：Deposits that are subject to withdrawal by writing a check.
货币政策：联储为了促进经济正常稳定发展所采取的政策。

Monetary Policy：The Fed’s efforts to promote the overall health and stability of the economy.
经济周期：以商品或劳务的产出数量变化为衡量标准的短期经济波动。

Business Cycle：Short-run fluctuations in economic activity as measured by the output of goods and services.
扩张：经济周期中的某个阶段，该阶段的经济活动增加且失业率降低。

Expansion：The phase of the business cycle in which economic activity increases and unemployment falls.
萧条：经济周期中的某个阶段，该阶段的经济活动减少且失业率增加。

Recession：The phase of the business cycle in which economic activity falls and unemployment rises.财政政策：为了刺激或减缓经济增长，政府所采取的支出政策和税收政策。

Fiscal Policy：Government spending and taxing decisions to speed up or slow down the level of economic activity.
自由放任：认为政府不应该干预经济的观点。

Laissez-Faire：The view that government should pursue a hands-off policy with regard to the economy.货币：作为支付手段（即交换媒介）、记账单位和价值储藏手段的物品。

Money：Anything that functions as a means of payment (medium of exchange), unit of account, and store of value.
支付手段/交换媒介：支付过程中被普遍接受的物品。

Means of Payment (Medium of Exchange)：Something generally acceptable for making payments.
实物交换/易货：以商品换取商品。

Barter：Trade of goods for goods.
互为需要/双向对应：在易货交易中，交易双方所愿意提供与对方交易的物品恰好是对方想要换取的
Double Coincidence of Wants：In barter, the situation in which each person involved in a potential exchange has what the other person wants.
价值储藏：可以长久地保持价值的物品。

Store of Value：Something that retains its value over time.
记账单位：标准的会计单位。

Unit of Account：A standardized accounting unit such as the dollar that provides a consistent measure of value.
货币总量：联储监控并随时关注的货币指标数据——M1，M2，M3。

Monetary Aggregates：The measures of money—including M1, M2, and M3—monitored and tracked by the Fed.
M1：通货加支票存款。

M1：Currency in the hands of the public plus checkable deposits.
M2：M1加上其他高流动性资产。

M2：Everything in M1 plus other highly liquid assets.
M3：M2加上一些低流动性资产。

M3：Everything in M2 plus some less liquid assets.
活期存款：银行发行的不支付利息的支票账户存款。

Demand Deposits：Non-interest-earning checking accounts issued by banks.
支票存款：需签支票方可提取的存款。

Checkable Deposits：Deposits that are subject to withdrawal by writing a check.
可转让支付命令账户：可获得利息的支票账户。

Negotiable Order of Withdrawal (NOW) Accounts：Interest-earning checking accounts.
准货币：高流动性的金融资产，再不损失价值的前提下很容易转换成交易货币（M1）。

Near Monies:Highly liquid financial assets that can easily be converted to transactions money (M1) without loss of value.
国内非金融债务：国内非金融部门（政府及私人部门）在信用市场上的债务合计。

Domestic Nonfinancial Debt (DNFD): An aggregate that is a measure of total credit market debt owed by the domestic nonfinancial government and private sectors.
支付机制，交易完成的方式，即货币如何在交易者之间转移。

Payments Mechanism:The means by which transactions are consummated; that is, how money is transferred in an exchange.
电子资金支付系统：该系统中对第三方的支付通过接受电子指令而不是纸质的支票指令。

Electronic Funds Transfer System:The transfer of funds to third parties in response to electronic instructions rather than a paper check.
销售终端：使用借记卡将资金从某一账户电子转移到第三方的计算机终端。

Point-of-Sale Terminal: A computer terminal that uses a debit card to electronically transfer funds from a deposit account to the account of a third party.
储值卡：一种带有磁条的塑料卡片，通过刷读卡器进行支付，用途比较单一。

Stored-Value Cards: Plastic cards that have a magnetic strip that is swiped through a card reader to make payments; they are usually single use.
智能卡：一种带有微处理器芯片的塑料卡片可以用于支付；芯片中存储着保证支付有效的信息。

Smart Cards: Plastic cards with a microprocessor chip that are used to make payments; the chip stores information that allows the payment to be validated.
自动柜员机：该机器保证即使在金融机构关门时，存款者也可以存款、取款。

Automated Teller Machine (ATM): A machine that permits a depositor to make deposits and withdrawals to an account even when the financial institution is closed.
货币市场：期限为一年以内的金融资产交易市场。

Money Market: The market for financial assets with an original maturity of less than one year.
资本市场：期限大于一年的金融资产交易市场。

Capital Market: The market for financial assets with an original maturity of more than one year.
到期市场：某金融证券的最初发行日与到期日之间的时间间隔。

Term to Maturity: The length of time from the initial issue of a financial security until its maturity.
一级市场：证券首次公开发行交易的市场。

Primary Market: The market in which a security is initially sold for the first time.
二级市场：买卖先前公开发行的证券的市场。

Secondary Market: The market in which previously issued financial securities are sold.
现货市场：金融证券即时进行买卖交割的市场。

Spot Market: A market in which the trading of financial securities takes place instantaneously.
金融期货市场：交易金融期货合约的正规市场。

Financial Futures Markets: Organized markets that trade financial futures agreements.
金融远期市场：通常是由银行或其他交易者或经纪人组织的金融远期合约交易市场。

Financial Forward Markets: Markets that trade financial forward agreements usually arranged by banks or other brokers and dealers.
衍生品市场：该金融市场上交易的金融工具的价值（期货或远期合约）依托于原生的金融工具，如未来交易的政府债券、股票等。

金融远期和期货交易市场是衍生品市场的典型例子。

Derivative Markets: Financial futures markets where the value of the financial instruments (the futures and forward agreements) “derive” their values from the underlying instruments such as the government securities, the shares of stock, etc. that are traded on the future date; financial forward and futures markets, among others, are examples of derivative markets.
投机：通过买卖证券，并从未来的价格变动中获利的行为。

Speculation:The buying or selling of financial securities in the hopes of profiting from future price changes.
美国国库券：美国政府发行的短期债务工具，期限为3~12个月。

U.S. Treasury Bills (T-bills): Short-term debt instruments of the U.S. government with typical maturities of 3 to 12 months.
可转让大额存单：存款机构发行的债务工具，在二级市场出售，最低价值为100000元大多数期限为1~12月内。

Negotiable Certificates of Deposit (CDs):Certificates of deposit with a minimum denomination of $100,000 that can be traded in a secondary market, most with an original maturity of 1 to 12 months.
商业票据：公司发行的短期债务工具。

Commercial Paper: Short-term debt instruments issued by corporations.
银行承兑汇票：国际贸易融资过程中产生的一种货币市场工具，为未到期的银行票据提供担保。

Bankers’ Acceptances:Money market instruments created in the course of international trade to guarantee bank drafts due on a future date.
回购协议：是一种短期协议，卖着出售政府债券给买方，并同时承诺在未来某一时期以更高的价格购回该笔债券。

Repurchase Agreements: Short-term agreements in which the seller sells a government security to a buyer and simultaneously agrees to buy it back on a later date at a higher price.
联邦基金：储蓄机构之间的准备金贷款（在联储的存款），比较典型的是隔夜借贷。

Federal (Fed) Funds: Loans of reserves (deposits at the Fed) between depository institutions, typically overnight.
欧洲美元：美国本土之外持有的以美元为面值的存款。

Eurodollars: Dollar-denominated deposits held abroad.
股票：代表对公司净资产和收入的所有权的权益索取权。

Stocks: Equity claims that represent ownership of the net assets and income of a corporation.
抵押贷款：用于购买家庭住房（一居或多居室）、土地或其他不动产，并由该建筑物或土地作为抵押的贷款。

Mortgages:Loans made to purchase single or multiple-family residential housing, land, or other real structures, with the structure or land serving as collateral for the loan.
公司债券：公司发行的长期债务工具。

Corporate Bonds: Long-term debt instruments issued by corporations.
美国政府债券：美国政府发放的长期债务工具，期限在2~30年。

.U.S. Government Securities:Long-term debt instruments of the U.S. government with original maturities of 2 to 30 years.
美国政府机构债券：有支持不动产借贷及学生贷款的不同政府机构发行的长期债务工具。

U.S. Government Agency Securities:Long-term bonds issued by various government agencies including those that support real estate lending and student loans
州及地方政府债券：州及地方政府为修建学校、道路等融资而发放的长期债务工具。

State and Local Government Bonds (Municipals) : Long-term instruments issued by state and local governments to finance expenditures on schools, roads, and so on.
收入债券：用于特定项目的融资、其项目的后期收入作为债券持有者的收益的债券。

Revenue Bonds: Bonds used to finance specific projects with the proceeds of those projects being used to pay off the bondholders.
一般义务债券：由债券发行者的全部信用做保证、有一般收入偿还的债券。

General Obligation Bonds: Bonds that are paid out of the general revenues and backed by the full faith and credit of the issuer.
做市商：连接金融工具买卖双方的中间人，有时也代理执行买卖双方的交易。

Market Maker:A dealer who links up buyers and sellers of financial securities and sometimes takes positions in the securities.
经纪人：为买卖双方安排交易的人。

Broker: A person who arranges trades between buyers and sellers.
经销商：为买卖双方安排交易的人；可能成为主要交易者，即做市商。

Dealer:A person who arranges trades between buyers and sellers and who stands ready to be a principal in a transaction; a market maker.
买方出价：做市商愿意在此价格上购买债券。

Bid Price: The price at which a market maker is willing to buy securities.
卖方出价：做市商愿意在此价格上出售债券。

Asked Price: The price at which a market maker is willing to sell securities.
货币的时间价值：将现有的购买力换算成未来购买力的换算条件——利率。

Time Value of Money:The terms on which one can trade off present purchasing power for future purchasing power; the interest rate.
复利：一种利用于计算现在借出的某一笔资金的未来价值的方法。

Compounding: A method used to determine the future value of a sum lent today.
本金：最初借出的资金数额。

Principal：The original amount of funds lent.
贴现：用于计算未来收入或支付的某一笔资金的现有价值。

Discounting：A method used to determine the present value of a sum to be received in the future.
现值：未来收入或支付的某一笔资金的现在价值。

Present Value：The value today of funds to be received or paid on a future date.
面值/平价：债券的票面价值；债券初始售价。

Par Value：The face value printed on a bond; the amount for which the bond originally sold.
息票支付：定期支付的利息，即债券的票面利率乘以票面金额。

Coupon Payments：The periodic payments made to bondholders, which are equal to the principal times the coupon rate.
折价：债券发行后，利率提高导致债券售价低于票面价值。

Discount from Par：When a bond sells below its face value because interest rates have increased since the bond was originally issued.
到期收益率：持有债券到期后的回报率，包括利息和资本利得或资本损失两部分。

Yield to Maturity：The return on a bond held to maturity, which includes both the interest return and any capital gain or loss
溢价：债券发行后，利率降低导致债券售价高于票面价值。

Premium above Par：When a bond sells above its face value because interest rates have decreased since the bond was originally issued.
可贷资金需求：来自于个人、企业、政府或国外部门的借款需求。

Demand for Loanable Funds：The demand for borrowed funds by household, business, government, or foreign net borrowers.
可贷资金供给：可供借贷的资金来自两方面：（1）个人、企业、政府或国外贷方；（2）联储的准备金供给。

Supply of Loanable Funds：The supply of borrowed funds originating from (1) household, business, government, and foreign net lenders or (2) the Fed through its provision of reserves.
名义利率：市场利率，即实际回报率加上该资产整个生命期的预期通货膨胀率。

Nominal Interest Rate：The market interest rate, or the real return plus the rate of inflation expected to prevail over the life of the asset.
实际利率：剔除了购买力水平变化的利率。

Real Interest Rate：The interest rate corrected for changes in the purchasing power of money.
货币幻觉：支出部门对名义的价格变化做出反应，尽管此时实际的变量（如利率）并没有发生变化。

Money Illusion：When spending units react to nominal changes caused by changes in prices even though real variables such as interest rates have not changed.
通货膨胀补偿：名义利率与实际利率的差，用来弥补通货膨胀时贷方所损失的购买力。

Inflation Premium：The amount of nominal interest added to the real interest rate to compensate the lender for the expected loss in purchasing power that will accompany any inflation.
金融创新：金融服务业的产生的新型金融工具、金融市场和金融机构。

Financial Innovation：The creation of new financial instruments, markets, and institutions in the financial services industry.
或有索取权：对财产及人身保险的收益索取权，以便保证公众在发生盗窃、车祸、自然灾害以及死亡时遭受的严重财务损失得到赔偿。

Contingent Claims：Claims such as casualty and life insurance benefits that offer the public protection from the often catastrophic financial effects of theft, accidents, natural disasters, and death.
违约风险：借方不愿意或无力在债务到期时偿还的风险。

Default Risk：The risk that a borrower will be unwilling or unable to live up to the terms of the liability it has sold.
利率风险：利率发生未曾预见到的变化导致金融机构的负债成本高于资产收益。

Interest Rate Risk：The risk that the interest rate will unexpectedly change so that the costs of an FI’s liabilities exceed the earnings on its assets.
流动性风险：金融中介机构需要进行支付时，无法不受任何损失地将长期资产迅速变现的风险。

Liquidity Risk：The risk that an FI will be required to make a payment when the intermediary has only long-term assets that cannot be converted to liquid funds quickly without a capital loss.
汇率风险：汇率发生变化时，会降低外汇以及外汇表示的金融资产的价值。

Exchange Rate Risk：The risk that changes in the exchange rate will adversely affect the value of foreign exchange or foreign financial assets.
资产负债表：一张关于某一个经济单位在某一特定时点的资产、负债和净权益的货币价值的财务报表。

Balance Sheet：An accounting statement that presents the monetary value of an economic unit’s assets, liabilities, and net worth on a specific date.
储蓄机构：储贷协会、储蓄银行和信用联盟等存款机构。

Thrifts：Depository institutions known as S&Ls, savings banks, and credit unions.
商业银行：吸收支票、定期存款、储蓄存款并对商业企业发放贷款的存款机构。

Commercial Banks：Depository institutions that issue checkable, time, and savings deposit liabilities and, among other things, make loans to commercial businesses.
交易账户存款：可以提现、可以通过签支票或电子转账等方式进行支付的存款账户。

Transactions Deposits: Deposits that can be exchanged for currency and are used to make payments through writing a check or making an electronic transfer.
储蓄存款：高流动性活期存款，可随时支取，无需签支票支取。

Savings Deposits: Highly liquid deposits that can usually be withdrawn on demand but not by writing a check.
定期存款：有固定的到期日，如提前支取则收取罚金的存款。

Time Deposits: Deposits that have a scheduled maturity and a penalty for early withdrawal.
储贷协会：旨在聚集本地居民储蓄、用于支持住房建设和购买的一种存款机构；1980年开始提供支票存款。

Savings and Loan Associations (S&Ls): Depository institutions established for the purpose of pooling the savings of local residents to finance the construction and purchase of homes; have offered checkable deposits since 1980.
储蓄银行：用于支持住房建设和购买的一种存款机构；主要分布于美国东海岸。

Savings Banks: Depository institutions set up to help finance the construction and purchase of homes; located mainly on the East Coast.
金融机构重整、复苏和加强法案：旨在解决储贷协会的危机，创造了一种新的联邦监管结构，限制储贷协会可购买的资产范围，要求其保持足够的资本充足率。

Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA) of 1989:An act that attempted to resolve the S&L crisis by creating a new regulatory structure, limiting the assets S&Ls can acquire, and requiring S&Ls to maintain adequate capital.
信贷联盟：合作性的、非营利的、免税的存款机构，其服务对象是持有其共同债券的成员。

Credit Unions: Depository institutions that are cooperative, nonprofit, tax-exempt associations operated for the benefit of members who share a common bond.
寿险公司：旨在补偿公众发生意外事件如死亡、残疾等时遭受的财物损失的中介机构。

Life Insurance Companies: Intermediaries that offer protection against the financial costs associated with events such as death and disability in exchange for premiums.
养老基金/退休基金：旨在为参加者提供退休后的收入补偿的、免税的中介机构。

Pension Funds: Tax-exempt intermediaries set up to provide participants with income at retirement in exchange for premiums.
财产保险公司：旨在保护财产免遭意外损失的中介机构。

Property and Casualty Companies:Intermediaries that provide protection against the effects of unexpected occurrences on property.
共同基金：从公众处获得并集中资金购买长期金融债券，将扣除一定费用后的收益返还给集资人的投资性中介机构。

Mutual Funds: Investment-type intermediaries that pool the funds of net lenders, purchase the long-term financial claims of net borrowers, and return the income received minus a fee to the net lenders.
货币市场共同基金：投资于货币市场金融工具的共同基金。

Money Market Mutual Funds: Mutual funds that invest in money market instruments.
金融公司：向个人提供消费品购买融资，向企业提供存贷融资的中介机构。

Finance Companies: Intermediaries that lend funds to households to finance consumer purchases and to firms to finance inventories.
1933年格拉斯—斯蒂格尔法案：是关于银行业的立法，针对大萧条，提出Q条例，制定了利率上限；并将商业银行和投资银行分离，创建了联邦存款保险公司。

Glass-Steagall Act of 1933:Banking legislation, enacted in response to the Great Depression, that established Regulation Q interest rate ceiling, separated commercial and investment banking, and created the FDIC.
Q条例：大萧条时期制定的关于商业银行存款利率上限的条例，1980年废除。

Regulation Q: Interest rate ceilings on commercial bank deposits that were established during the Great Depression and phased out after 1980.
联邦存款保险公司：旨在保护银行和储蓄联盟存款的联邦机构。

Federal Deposit Insurance Corporation (FDIC): The federal agency that insures the deposits of banks and savings associations.
货币管理署：核准国民银行的联邦机构。

Comptroller of the Currency: The federal agency that charters national banks.
核准：银行必须得到联邦政府或州政府的许可才可以经营商业银行业务。

Chartered: Given permission to engage in the business of commercial banking. Banks must obtain a charter before opening.
国民银行：经货币管理署核准经营的银行。

National Bank: A bank that has received a charter from the Comptroller of the Currency.
双银行核准体系：该体系中的银行经营由联邦或州政府两者中的一个许可即可。

Dual Banking System: The system whereby a bank may have either a national or a state charter.
联邦金融机构检查委员会：是一个联邦机构，为联储、联邦存款保险公司、货币管理署进行联邦金融机构检查制定统一的原则、标准、报告形式，并就提高金融机构监管的一致性问题给出政策建议。

Federal Financial Institutions Examinations Council (FFIEC): A federal agency that prescribes uniform principles, standards, and report forms for the federal examination of financial institutions by the Fed, the FDIC, and the Office of the Comptroller of the Currency and that makes recommendations to promote uniformity in the supervision of financial institutions.
麦克法登法案：1927年国会颁布的法案，不允许设立跨州的分支机构，并要求国民银行在所属州内遵守各州关于州内分支机构的法律。

McFadden Act: The 1927 act by Congress that outlawed interstate branching and made national banks conform to the intrastate branching laws of the states in which they were located.
州际银行分支机构效率法案：1994年9月，国会颁布的法案，允许在全国范围内不受限制的设立分支机构。

Interstate Banking and Branching Efficiency Act (IBBEA): Signed into law in September 1994, an act by Congress that effectively allows unimpeded nationwide branching.
银行控股公司：一个拥有几个企业的公司，其中至少一个是银行。

Bank Holding Company：A corporation that owns several firms, at least one of which is a bank.
金融控股公司：该公司从事比银行控股公司范围还要广泛的、与金融相关的经济活动，包括证券承销及交易，保险代理和承销，商业银行业务等；也可按照联储的要求从事其他金融或非金融活动。

Financial Holding Companies：Holding companies that can engage in an even broader array of financial-related activities than bank holding companies, including securities underwriting and dealing, insurance agency and underwriting activities, and merchant banking activities; financial holding companies may engage in any other financial and nonfinancial activities as determined by the Fed.
商业银行业务：直接权益投资于（购买股票）一个新建或正在成长的公司。

Merchant Banking：Direct equity investment (the purchasing of stock) in a start-up or growing company by a bank.
外国银行机构：外国银行在美国设立的办事处，只能在批发市场上和货币市场上借入资金，不允许经营零售业务。

Agency of a Foreign Bank：A U.S. office of a foreign bank that can borrow funds only in the wholesale and money markets and is not allowed to accept retail deposits.
信息不对称：相对于一个银行贷款发放者来说，一个潜在的借款者更了解该投资项目的风险收益。

Asymmetric Information：When a potential borrower knows more about the risks and returns of an investment project than the bank loan officer does.
逆向选择问题：当条件最差的借款者努力争取拿到贷款时就可能产生逆向选择。

Adverse Selection Problem：When the least-desirable borrowers pursue a loan most diligently.
道德风险：当贷款发放后，借款者具有将该贷款的收益应用于更高风险的动机。

Moral Hazard Problem：When the borrower has an incentive to use the proceeds of a loan for a riskier venture after the loan is funded.
可调整利率贷款：贷款的利率随着资金成本的升降而上下调整。

Adjustable (Variable) Rate Loan：When the interest rate on a loan is adjusted up or down as the cost of funds rises or falls.
非银行金融机构：其他越来越起到媒介作用的金融或非金融机构。

Nonbanks：Other intermediaries and nonfinancial companies that have taken an increasing share of intermediation.
公开市场业务：联储在公开市场上买卖政府证券。

Open Market Operations：Open market purchases or sales to offset changes in the monetary base caused by other factors.
公开市场冲销性业务：为了对冲其他因素引起的基础货币的变化，联储在公开市场上买卖政府证券。

Offsetting Open Market Operations：Open market purchases or sales to offset changes in the monetary base caused by other factors.
总准备金：法定准备金加上超额准备金。

Total Reserves ：Required reserves plus excess reserves.
法定准备金：联储要求存款机构必须持有的准备金数量。

Required Reserves：The amount of reserve assets that the Fed requires a depository institution to hold.超额准备金：超出联储要求的存款机构必须持有的准备金数量的那部分准备金。

Excess Reserves：Reserves over and above those required by the Fed.
无法发放贷款：银行没有多余的储备来发放贷款。

Loaned Up：Situation when a bank has no excess reserves left to serve as a basis for lending.
法定准备金率：联储要求存款机构必须持有的准备金数量占整个存款的数量。

Required Reserve Ratio (r D)：The fraction of deposits that depository institutions are required to hold as required reserves.。

简单货币乘数：法定准备金率的倒数，1/r
D
Simple Money Multiplier：The reciprocal of the required reserve ratio, 1/r D。

部分准备金银行体系：在这种银行体系中，单个银行必须持有的法定准备金等于其存款负债的一个比例。

Fractional Reserve Banking System：A banking system in which individual banks hold reserve assets equal to a fraction of deposit liabilities.
基础货币：准备金加上公众手中持有的货币，用MB表示。

Monetary Base：Reserves plus currency in the hands of the public; denoted as MB.
货币乘数：基础货币增加导致货币供给增加的倍数。

Money Multiplier：The multiple of the change in the monetary base by which the money supply will change.
滞胀：高失业率和高通货膨胀率并存的经济状态。

Stagflation：A condition of concurrent high unemployment and high inflation.
通货紧缩：用物价指数度量的整体物价水平的下降。

Deflation：A drop in the overall price level as measured by a price index
1946年的就业法案：第一项指导政策制定者追求充分就业和低通货膨胀的经济增长的法案。

Employment Act of 1946：The first statute that directed policy makers to pursue policies to achieve full employment and noninflationary growth.
1978年充分就业与均衡增长法案：要求政策制定者追求就业和低通货膨胀的经济增长的法案。

Humphrey-Hawkins Full Employment and Balanced Growth Act of 1978：A statute that required policy makers to pursue policies to achieve full employment and noninflationary growth.
自然失业率：与稳定的物价指数一致的失业率；通常认为是4.0%~4.5%。

Natural Rate of Unemployment ：The rate of unemployment consistent with stable prices; believed to be about 4.0 to 4.5 percent.
供给冲击：导致短期总供给曲线移动的因素。

Supply Shock：Any event that shifts the shortrun aggregate supply curve.
成本推进型通货膨胀：有要素价格上涨所引起的一般价格水品持续上涨。

Cost-Push Inflation：Sustained increases in the overall price level, triggered by increases in input prices.
缓和：政策制定者为了应付负向供给冲击而采取的增加总需求的政策。

Accommodation：When policy makers increase aggregate demand in response to an adverse supply shock.。