{"id":164,"date":"2006-03-27T22:59:02","date_gmt":"2006-03-28T02:59:02","guid":{"rendered":"http:\/\/vitamin-max.com\/word\/?p=164"},"modified":"2006-03-27T23:00:29","modified_gmt":"2006-03-28T03:00:29","slug":"%e5%a4%8d%e6%97%a6%e7%bb%8f%e6%b5%8e%e6%95%99%e6%8e%88%e2%80%9c%e9%95%bf%e6%b1%9f%e5%ad%a6%e8%80%85%e2%80%9d%e5%a7%9c%e6%b3%a2%e5%85%8b%e8%a2%ab%e6%9a%b4%e6%8a%84%e8%a2%ad","status":"publish","type":"post","link":"https:\/\/vitamin-max.com\/word\/2006\/03\/%e5%a4%8d%e6%97%a6%e7%bb%8f%e6%b5%8e%e6%95%99%e6%8e%88%e2%80%9c%e9%95%bf%e6%b1%9f%e5%ad%a6%e8%80%85%e2%80%9d%e5%a7%9c%e6%b3%a2%e5%85%8b%e8%a2%ab%e6%9a%b4%e6%8a%84%e8%a2%ad\/","title":{"rendered":"\u590d\u65e6\u7ecf\u6d4e\u6559\u6388\u201c\u957f\u6c5f\u5b66\u8005\u201d\u59dc\u6ce2\u514b\u88ab\u66b4\u6284\u88ad"},"content":{"rendered":"

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\u82f1\u6587\u539f\u6587 Introduction \u4e0b\u8f7d<\/a> Copyright (c) Owner of the file. I will remove this file immediately if you think this file is a violation of your copyright. This blog entry is actually anti-copying.<\/p>\n

Over the last quarter century, exchange rates among the currencies of the leading industrial countries have shown substantial and often persistent movements that are largely unexplained by movements in macroeconomic fundamentals (Frankel and Rose, 1995; Taylor, 1995; Flood and Taylor, 1996). The literature on the microstructure of the foreign-exchange market in some measure reflects researchers’ attempts to understand the mechanisms generating these deviations from fundamentals (Taylor, 1995; Flood and Taylor, 1996; Lyons, 2001)1. More broadly, however, this literature is concerned with other “micro” aspects of the foreign-exchange market,such as the transmission of information among market participants, the behavior if market agents, the importance of order flow, the heterogeneity of agents’ expectations, and the implications of such heterogeneity for trading volume and exchange-rate volatility.<\/p><\/blockquote>\n

\u4e2d\u6587\u539f\u6587 \u6982\u8ff0\u90e8\u5206\u7b2c\u4e00\u6bb5 \u4e0b\u8f7d DOC\u6587\u4ef6\u6765\u81ea\u6e56\u5357\u5e08\u8303\u5b66\u9662\u7ecf\u6d4e\u5b66\u76f8\u5173\u7ad9\u70b9<\/a> \u672c\u5730\u4e0b\u8f7d<\/a><\/p>\n

\u5728\u6700\u8fd1\u7684\u4e8c\u5341\u591a\u5e74\u91cc\uff0c\u5de5\u4e1a\u53d1\u8fbe\u56fd\u5bb6\u7684\u6c47\u7387\u5728\u7ecf\u6d4e\u751f\u6d3b\u4e2d\u8d77\u7740\u91cd\u8981\u7684\u4f5c\u7528\u3002\u7136\u800c\uff0c\u6c47\u7387\u7684\u8fde\u7eed\u53d8\u52a8\u5df2\u7ecf\u5728\u5f88\u5927\u7684\u7a0b\u5ea6\u4e0a\u4e0d\u80fd\u88ab\u4f20\u7edf\u7684\u5b8f\u89c2\u7ecf\u6d4e\u7684\u57fa\u672c\u7406\u8bba\u6765\u89e3\u91ca\u3002\u4e00\u4e9b\u81f4\u529b\u4e8e\u5916\u6c47\u5e02\u573a\u5fae\u89c2\u7ed3\u6784\u7814\u7a76\u7684\u7814\u7a76\u8005\u4eec\u6b63\u8bd5\u56fe\u53bb\u63a2\u7d22\u8fd9\u4e9b\u4e0e\u4f20\u7edf\u7406\u8bba\u4e0d\u4e00\u81f4\u7684\u7406\u8bba\u673a\u5236\u3002\u672c\u6587\u5c06\u4e3b\u8981\u5173\u6ce8\u5916\u6c47\u5e02\u573a\u201c\u5fae\u89c2\u201d\u65b9\u9762\u7684\u95ee\u9898\uff0c\u4f8b\u5982\u5e02\u573a\u53c2\u4e0e\u8005\u7684\u4fe1\u606f\u4f20\u9012\u3001\u5e02\u573a\u4e3b\u4f53\u884c\u4e3a\u3001\u5b9a\u5355\u6d41\u7684\u91cd\u8981\u6027\u4ee5\u53ca\u5e02\u573a\u4e3b\u4f53\u7684\u9884\u671f\u5f02\u8d28\u6027\u53ca\u5176\u5bf9\u4ea4\u6613\u91cf\u3001\u6c47\u7387\u6ce2\u52a8\u6027\u7684\u5f71\u54cd\u3002<\/p><\/blockquote>\n

\u4e2d\u6587\u4e3a\u59dc\u6ce2\u514b\u7b49\u4eba\u6240\u8457\u3002\u4e2d\u6587\u7248\u53c2\u8003\u6587\u732e\u7b2c\u4e00\u6761\u5219\u662f\u4e0a\u9762\u82f1\u6587\u539f\u6587\u90a3\u672c\u4e66\u7684Introduction\u3002\u867d\u7136\u6211\u4e0d\u5177\u5907\u7ecf\u6d4e\u5b66\u77e5\u8bc6\u80cc\u666f\uff0c\u4f46\u662f\u8fd9\u786e\u5b9e\u5f88\u5f88\u660e\u663e\u7684\u7ffb\u8bd1\u6027\u6284\u88ad\u3002<\/p>\n

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\u82f1\u6587\u539f\u6587\u8282\u9009 \u201cConclusion\u201d(\u5173\u952e\u8bcd\u4ee5\u5173\u952e\u987a\u5e8f\u6392\u5217\uff0c\u53ef\u4ee5\u66f4\u540d\u663e\u8ba9\u5927\u5bb6\u770b\u5230\u7834\u7efd)<\/p>\n

…began this study…failure…motivate the development…miscrostructure…To date…transmission of information among market…<\/p>\n

…an emerging consensus in the literature…macro-…long run… For the forseeable future… by three strands… “new open-economy”… these three approaches… worthwhile…challenge.<\/p><\/blockquote>\n

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kaoyan.com\u7684\u8bba\u6587\u4e0a\u4ea6\u6709\u7c7b\u4f3c\u4e00\u8d34<\/a>\uff0c\u66f4\u662f\u8be6\u7ec6\u5217\u4e3e\u59dc\u6ce2\u514b\u4e0e\u590d\u65e6\u5b66\u672f\u8150\u8d25\u3002<\/p>\n

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