最大的风险来自测量假定的中国汇率失调的标准。
The biggest risk comes from measures linked to China's supposed exchange-rate misalignment.
最近的一项研究调查了实际汇率失调和动荡对经济实绩的影响。
A recent study investigated the effects of real exchange rate misalignment and instability on economic performance.
然后，本文分析了汇率失调的危害、长期低估的原因和可持续性。
Then, the paper analyzes the harm of RMB exchange rate misalignment, the reason of long-run undervaluation, and sustainability.
然后，本文结合我国的国情和模型参数分析了汇率失调的具体原因。
Then, the paper analyzes the concrete reasons and the effects on economy of exchange rate misalignment.
本文通过计量分析方法研究人民币NDF与人民币汇率失调的关系。
Based on econometrical method, this paper analyzes the relationship between NDF and misalignment of RMB.
研究结果表明，汇率失调在一定程度加大了我国外贸失衡的状况，但并非主要原因。
The result indicates exchange rate misalignment increases the state of foreign trade unbalance in some degree, but it is not the main reason.
原因很简单：只有这些国家可以大量借贷，且不会造成金融体系内部出现严重的汇率失调。
The reason is simple: only such countries can borrow without risking significant currency mismatches inside their financial systems.
在这些工作的基础上，本文进一步讨论了汇率失调问题，对其成因和解决方式提出了看法。
At last the thesis discusses exchange rate misalignment, and gives some opinion of its cause and resolution.
而且人们还远未清楚，汇率失调是否像WTO规则定义的那样，是一种“伴随出口”的补贴。
And it remains far from clear that exchange rate misalignment is an "export-contingent" subsidy as defined by WTO rules.
那么，近几年人民币汇率失调程度是符合国际惯例的，目前人民币汇率水平的制定也是合理的。
And hence the misalignment rate of RMB exchange rate level is conform to international convention in recent years, and formulation of the RMB exchange rate is reasonable.
近年来我国名义汇率偏离均衡汇率的失调程度加大，国际上对我国人民币升值的呼声也越来越高。
In recent years, RMB's nominal exchange rate deviates obviously the equilibrium exchange rate, and international shouts to revalue RMB are more and more high.
近年来我国名义汇率偏离均衡汇率的失调程度加大，国际上对我国人民币升值的呼声也越来越高。
In recent years, RMB's nominal exchange rate deviates obviously the equilibrium exchange rate, and international shouts to revalue RMB are more and more high.
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