国际金融 托马斯・普格尔 英文 名词解释.doc

《国际金融 托马斯・普格尔 英文 名词解释.doc》由会员上传分享，免费在线阅读，更多相关内容在教育资源-天天文库。

1、C2-C31.Thecurrentaccountincludesalldebitandcredititemsthatareexportsandimportsofgoodsandservices,incomereceiptsandincomepayments,andgifts.2.Afinancialaccountisacomponentofacountry’sbalanceofpaymentsthatcoversclaimsonorliabilitiestononresidents,specificallywit

2、hregardtofinancialassets.3.Officialinternationalreserveassetsaremoney-likeassetsthatareheldbygovernmentsandthatarerecognizedbygovernmentsasfullyacceptableforpaymentsbetweenthem.4.StatisticalDiscrepancyisthenetresultoferrorsandomissionsonboththecreditanddebits

3、ides.5.Theoverallbalanceshouldindicatewhetheracountry’sbalanceofpaymentshasachievedanoverallpatternthatissustainableovertime.6.Arbitrage,theprocessofbuyingandsellingtomakearisklesspureprofit,ensuresthatratesindifferentlocationsareessentiallythesame,andthatrat

4、esandcross-ratesarerelatedandconsistentamongthemselves.C4-C51.Ahedgeisaninvestmenttoreducetheriskofadversepricemovementsinanasset.Normally,aedgeconsistsoftakinganoffsettingpositioninarelatedsecurity.2.Speculationistheactofconductingafinancialtransactionthatha

5、ssubstantialriskoflosingallvaluebutwiththeexpectationofasignificantgain.3.Aforwardpremiumisasituationinwhichtheforwardorexpectedfuturepriceforacurrencyisgreaterthanthespotprice.Itisanindicationbythemarketthatthecurrentdomesticexchangerateisgoingtoincreaseagai

6、nsttheothercurrency.4.Aforwarddiscountisasituationinwhichtheforwardorexpectedfuturepriceforacurrencyislessthanthespotprice.Itisanindicationbythemarketthatthecurrentdomesticexchangerateisgoingtodeclineagainstanothercurrency.5.Purchasingpowerparity(PPP)isanecon

7、omictheorythatcomparesdifferentcountries'currenciesthrougha"basketofgoods"approach.6.Intheshortruntheactualexchangerateovershootsitslong-runvalueandthenrevertsbacktowardit.C6-C71.Sterilizationinterventionisthereverseoperationondomesticmarketthroughopenmarketo

8、perationtoachievethepurposeofconstantlocalcurrencysupply.2.Deficitwithouttearisadeficitthatacountrywithakeycurrency,afixedexchangeratewithoutforeignexchangecontrols,caneliminatebyavoiding