术语“收入货币流通速度”的详细信息

英译术语:

income velocity of money

汉语语境:

自新中国建国以来，我国M2／GDP持续攀升，收入货币流通速度（GDP／M2）不断下降，这一长期现象至今未得到完善解释。我们通过模型阐明，货币需求的变化不仅反映了最终产品交易的增长，而且反映了中间产品交易的增长。如果中间产品的增长超过最终产品的增长，则“超额”货币需求增加，表现为货币收入流通速度下降。这一发现意味着研究货币供应、物价总水平和经济发展问题不仅要考虑GDP的增长速度，更要考虑中间产品的增长速度，中间产品是度量分工与专业化水平的一个重要指标。

英语语境:

Since PRC was founded, M2/GDP in China had been rising, and income velocity of money (GDP/ M2) had been declining. This puzzling secular phenomenon had not been explained well as yet. We would explain that the change of monetary demand would not only reflect the increase of final product traded, but also reflect the increase of intermediate product. If the increase of intermediate product could exceed that of final product, then the demand for excess money would increase, suggesting the decline of income velocity of money. The discovery implies that inquiries into money supply, inflation and economic growth would not only take the growth of GDP into account, but also take the growth of intermediate product into account. The intermediate product is a key index for measuring extent of division of labor and specialization.