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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。

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）。

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。

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。

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：

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。

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？

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。

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。

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.

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；

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。

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。

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。

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。

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。

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。

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

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）。

"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。”

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。

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。

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。

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.