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ultimately, this process turns disinflation into deflation and probably will do so in the us by late 2010.

最终，这一过程将使通胀减速演变成通缩，美国可能会在2010年底出现这种局面。

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i'll just say here that there's no price deflation going on this slump, and there's not even any disinflation going on now.

我只是说，在这次衰退中，没有价格通缩，没有任何的通化通货紧缩。

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now, if you operate an economy below trend for long periods of time, disinflation is sure to become a problem.

现在，如果你操纵经济长期低于基本趋势，通货紧缩势必成为一个难题。

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Fixed Exchange Rate System: A costly disinflation measure

固定汇率制：并非低成本的反通货膨胀措施

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and these indicators tell a story of dramatic disinflation in the face of a week economy:

而这些指标都显示出了经济领域戏剧性的反通胀情况：

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rapid disinflation (now deflation) is creating more room for further monetary easing during this round of economic down cycle.

在这轮经济下滑周期，迅速的反通货膨胀（现在是通货紧缩）给进一步放松银根创造了更大空间。

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to the extent that this helps contain global disinflation, it is helpful.

在某种程度上来说有助于抑制全球经济通货紧缩，这种循环是有益的。

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"the rate of change of prices - or the degree of disinflation - is related to the rate of change of globalisation, " he argues.

他表示：“价格变化率，或者说是通缩程度，是与全球化的变化率相关联的。”

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we concur with this medium-term outlook of disinflation, although cpi inflation in the coming months could remain above 5%.

虽然将来几个月消费者价格指数可能会保持在高于5%的水平，我们同意这个反通货膨胀（disinflation）的中期展望。

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these disinflation policies continued in earnest with the 1980 election of ronald reagan.

这些通缩性政策被认真执行以至罗纳德*里根竞选总统的80年代。

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so what is one to make of comparisons with germany's "competitive disinflation" of the early noughties?

那么，这种情况能否与本世纪初德国的“竞争性通胀减缓”相提并论呢？

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not to be confused with disinflation, which is a slowing down of price rises (a fallin the inflation rate).

不可与通胀减速混淆，后者指物价上升速度放慢（即通货膨胀率减低）。

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assuming the global recovery remains on track, this bout of disinflation will probably dissipate by early next year.

假设全球复苏仍在正轨上，这一波反通膨趋势可能会在明年初退散。

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At the same time, disinflation makes it cheaper to borrow in both real and nominal terms.

与此同时, 无论是以实际还是名义价值衡量,反通货膨胀都令借贷成本更低廉.

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Money held by households and firms is contracting-a harbinger of disinflation and slump.

家庭和商户所持有的现金在缩水,这预示着通货紧缩和经济萧条.

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we are left with his warning that the fundamental forces that delivered the era of disinflation are starting to abate.

最后，我们看到他的警告：带来通缩时代的基本动力正开始减弱。

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the issue at this stage is not whether we have the tools to help support economic activity and guard against disinflation.

目前的问题不在于我们是否有工具来支持经济增长和防御通缩。

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money held by households and firms is contracting - a harbinger of disinflation and slump.

家庭和商户所持有的现金在缩水，这预示着通货紧缩和经济萧条。

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the third "new normal" condition, after shifts in consumption and exchange rates, is disinflation.

在消费逆转和汇率变化之后，第三个“新标准”是反通胀。

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his book might equally have been entitled the age of disinflation.

他的新书书名也可以定为《通缩年代》（TheAgeofDisinflation）。

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its merits are good repetition frequency, long life span, low disinflation, low request of vacuum environment;

铁电阴极电子发射重复性好、寿命长、出气率低、对真空环境要求不高；

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this is another nail in the coffin of disinflation and increases the risk of global stagflation.

这对反通货同样有决定性的影响，并且加大了经济滞涨的风险。

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they are locked into competitive disinflation against germany, the world's foremost exporter of very high-quality manufactures.

相对于全球高品质制品的头号出口国德国，这些国家受困于竞争性通胀减缓（competitivedisinflation）之中。

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thus, disinflation (a decrease in the inflation rate) can be achieved only at the cost of some unemployment.

因此，通货紧缩（膨胀率的下降）只能够以一定量的失业为代价。

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