外文翻譯--隱蔽性通貨膨脹的影響及其應(yīng)用

1、外文翻譯-隱蔽性通貨膨脹的影響及其應(yīng)用 本科畢業(yè)論文設(shè)計(jì)外 文 翻 譯外文出處 Springer-Verlag Berlin Heidelberg2021173-182 外文作者 Cengiz KahramanTufan Demireland Nihan Demirel 原文Effects of Inflation under Fuzziness and Some ApplicationsAbstractThis chapter presents the ways of incorporating the parameter fuzzy inflation to the engineering

2、 economy analyses Inflation is a financial parameter difficult to estimate The fuzzy set theory gives us the possibility of converting linguistic expressions about inflation estimates to numerical values In the chapter discounted cash flow techniques including these fuzzy expressions and some numeri

3、cal examples are given The obtained results show the interval of the worst and the best possible outcomes when fuzzy inflation rates are taken into account 1 IntroductionInflation is an increase in the amount of money necessary to obtain the same amount of product or service before the inflated pric

4、e was present With the inflation in anytime prices rise and the purchasing power decreases it takes more dollars for the same amount of goods or services Deflation is the opposite of inflation It has the oppositeeffects with deflation prices decrease and the purchasing power increases With the defla

5、tion it takes fewer dollars in the future to buy the same amount of goods or services as it does today The governments can be face to face with the inflation much more commonly than deflation at national economy Blank and Tarquin 2002Sharp-Bette and Park 1990 Degarmo et al 1990 Gnen 1990 Young 1993

6、Most people are undoubtedly aware that inflation has to do with price increases What is perhaps less well-known is that the meaning of the word inflation has changed somewhat over time Originally the word inflation was used to describe a characteristic of money that its value was eroded This happens

7、 when all prices in an economy rise at the same rate over time When all prices rise at the same ratehouseholds incomes for example wages increase as much as their expenses This means that households have to pay more for the same quantity of goods Howeverneither household consumption nor its actual v

8、alue utility is affected when all prices rise at the same rateOver time however the meaning of the word inflation has changed somewhat Today it is often used synonymously with the words price increase and can there by describe any kind of price rises not just increases in all prices For example one

9、often hears of wage inflation domestic inflation or imported inflation None of these terms mean an increase in all prices Rather they refer to rises in the prices of certain specific goods or servicesThe most common and most well-known measure of inflation is the change in the consumer price index -

10、 the CPI The CPI is a so-called cost-of-living index or compensation index This means that the CPI measures how consumers cost of living changes over time If consumers incomes increase at the same rate as their cost of living their utility will be unchanged over time The CPI is often used for exactl

11、y this purpose - as a basis for adjusting pensions or determining how compensation clauses in different agreements should be interpretedTo adjust for the effects of inflation in project evaluation most authors prefer to use a general index such as the Consumers Price Index The reason is as follows S

12、ince it is the investors real income or purchasing power that we seek to enhancethere is a slight advantage in choosing an index of Consumer Goods prices such as the CPI The changeable value of currency is the reason of inflation With the inflation the currency value goes down The inflation and defl

13、ation can be occurred as higher prices for food cars and other purchased commodities and services for the people On the other hand for the business and government inflation has eroded the purchasingpower of savings and earnings if interest rates and salary raises have not kept pace with general pric

14、e trends Inflation types are shown belowCost push inflation Increases in producers costs that are passed along to customerssometimes with disproportionate escalations that push prices up Demand-pull inflation Excessive spending power of consumers sometimes obtained at the expense of savings that pul

15、ls prices upWhen the literature is searched we can see that there are few works on fuzzy inflationKahraman and Tolga 1995 examine the effects of fuzzy inflation rate on aftertaxrate calculations De and Goswami 2006 present an EOQ model with fuzzyinflation rate and fuzzy deterioration rate when a del

16、ay in payment is permissible2 Relation between Inflation and InterestInflation affects everyone with some degree The degree of inflation affects the consequences when inflation is mild the economy prospers When inflation is moderateincreased demand pulls prices still higher When inflation is severe

17、prices rise much faster than wages do When inflation is hyperinflation this is the most dangerous level of inflation this uncontrolled inflation destroys a nations economy Park2006 Hyperinflation is a problem in countries where political instability overspending by the government weak international

18、trade balances etc is present Sharp-Betteand Park 1990 When the government has inflation in its economy first of all it pays attention to credit restrictions wage controls contraction of the money supply reduction in demand by raising taxes increased demand by reducing taxes enlarged supply of goods

19、 through greater productivity stimulated by investment incentives and wage-price guidelines backed by political persuasion to manage inflation and its effects on the economy Park 2006 On the other hand the government can redefine the currency in terms of the currency of another country control banks

20、 and corporations and control of the flow of capital into and out of the country in order to decrease inflation Sharp-Bette and Park 1990 Most of the engineering economists are more interested in the effects of inflation than its causes and corrections Due to inflation a dollar assumes different val

21、ues at different times The dollars do not have the same value for yesterday today and tomorrow The engineering economists have to predict the dollars values and organize their works by concerning with inflation and also they have to research what would happen if inflation became high level such as m

22、oderate or severe21 Inflation MeasurementThe measurement of inflation is difficult because the prices of different goods and services do not increase or decrease by the same amount they change at different times by the different amounts The calculation of a general inflation rate can be changed by g

23、eographical differences in prices and different buying habits of consumersThe whole sale price index producer price index and consumer price index are used for the measurement of inflation rates The consumer price index is the most commonly used technique for the inflation rate measurementThe whole

24、sale price index WPI This index measures inflation at the whole sale level for both consumer and industrial goodsProducer price index PPI This index measures average changes in prices receivedby producers of all commodities On the other hand PPI is a composite that measures changes in prices paid fo

25、r selected goods and services used by producers Blank and Tarquin 2002 Consumer price index CPI For calculation of CPI prices for goods are obtained monthly and are averaged according to demographic distributions Then the prices are weighted according to the expenditure proportions of the typical fa

26、mily Park2006 CPI is a composite that measures changes in prices paid for selected goods and services used by ultimate consumers Blank and Tarquin 2002 In CPI seven different things are measured as fixed market basket of goods foods and beverageshousing apparel and upkeep transportation medical care

27、 entertainment and other education personal care etc This index shows the effect of retail price changes on a selected standard of living22 Impact of InflationThe analysts have to be interested in the impact of inflation on economic evaluations There are two basic methods for researchers in the lite

28、rature for consideration of inflation in their calculationsConstant real dollars All cash flows are converted to money units that have constant purchasing power for eliminating inflation effects It is generally easier to estimate future costs in constant dollars because the estimator is familiar wit

29、h todays values On the other hand there are two weaknesses limiting the usefulness of the constant dollar tax effects are ignored and no provision is made for differences inescalation rates among price and cost components Biermann and Smidt 1990 It is denoted RFuture dollars In the amount of money u

30、nits that are called future dollars actually exchanged at the time of each transaction for estimating cash flows Future dollars are sometimes called then-current dollars nominal dollars or actual dollars It is denoted as AIt is a simple matter to convert estimates in real dollar flow to actual dolla

31、r flow when inflation is assumed to be a constant rate To make comparisons between monetary amounts which occur in different time periods the different-valued dollars must first be converted to constant value dollars in order to represent the same purchasing power over time Sharp-Bette and Park 1990

32、 As an economic evaluation when the rate of inflation increases there is a corresponding increase in the market interest rate Inflation is differential rather than uniform Goods and services prices do not always change proportionately Including the effect of inflation is a second-order refinement fo

33、r economic evaluations the first-order refinement was the inclusion of the effect of taxes on basic cash flowFor eliminating weaknesses of the constant dollar approach the analysts can use after-tax actual cash flow comparisons In the literature there are three different comparisons for actual cash

34、flowsNo responsive charges in after-tax analysisMultiple inflation rates in an after-tax analysisAfter-tax modified cash flow comparison譯文隱蔽性通貨膨脹的影響及其應(yīng)用摘要這個(gè)章節(jié)主要包擴(kuò)隱蔽性通貨膨脹分析方法通貨膨脹是一個(gè)難以估計(jì)的財(cái)政參數(shù)隱蔽性通貨膨脹理論告訴我們?nèi)绾伪磉_(dá)通貨膨脹以及如何用數(shù)值表達(dá)隱蔽性通貨膨脹在本章節(jié)中忽略了現(xiàn)金流量的影響表述了隱蔽性的概念以及列舉一些數(shù)據(jù)結(jié)果顯示在考慮了隱蔽性通貨膨脹后的最壞可能結(jié)果和最好可能結(jié)果結(jié)果的差距一簡(jiǎn)介通貨膨脹

35、概念指的是貨幣的增長(zhǎng)沒(méi)有與之對(duì)應(yīng)的相同數(shù)量的產(chǎn)品或者效勞在通貨膨脹下物價(jià)是當(dāng)前物價(jià)在通貨膨脹時(shí)期隨著物價(jià)上升貨幣購(gòu)置力會(huì)減少將來(lái)將花費(fèi)更多的美元才得到和今天相同數(shù)量的產(chǎn)品或效勞通貨緊縮是通貨膨脹的對(duì)立面起到相反的效果當(dāng)通貨緊縮時(shí)期物價(jià)下降和貨幣購(gòu)置力增加將來(lái)將花費(fèi)更少的美元得到和今天相同的數(shù)量產(chǎn)品或效勞通常情況下政府面對(duì)通貨膨脹情況多于通貨緊縮的情況Blank and Tarquin 2002Sharp-Bette and Park 1990 Degarmo et al 1990 Gnen 1990 Young 1993毫無(wú)疑問(wèn)多數(shù)人認(rèn)為通貨膨脹必伴隨物價(jià)增加但很少有人知道通貨膨脹一詞的意思已

36、隨著時(shí)間的流逝發(fā)生改變了最初通貨膨脹一詞用來(lái)描述價(jià)值被貶值的貨幣的特征這發(fā)生在經(jīng)濟(jì)和物價(jià)同比增長(zhǎng)的時(shí)候所有物價(jià)以相同的比率上升時(shí)家庭的收入例如工資增長(zhǎng)和家庭支出相同這表示家庭必須為相同的數(shù)量的商品支付更多的貨幣然而在物價(jià)上升相同比率時(shí)家庭支出和實(shí)際的價(jià)值效用均不受其影響隨著經(jīng)濟(jì)的開(kāi)展通貨膨脹一詞的意思有所改變現(xiàn)在通貨膨脹經(jīng)常被定義為當(dāng)物價(jià)不同增長(zhǎng)時(shí)可以描述多種物價(jià)上漲不只在所有物價(jià)相同比率增長(zhǎng)的情況例如我們經(jīng)常聽(tīng)說(shuō)工資通貨膨脹國(guó)內(nèi)通貨膨脹或進(jìn)口通貨膨脹這些并不意味著所有商品的價(jià)格都上漲更確切地說(shuō)他們指的是某些特定產(chǎn)品或效勞物價(jià)的上漲計(jì)量通貨膨脹的最多最常用的方法是消費(fèi)者物價(jià)指數(shù) - CPICP

37、I 是所謂的生活本錢(qián)指數(shù)或補(bǔ)償指數(shù) CPI 是用來(lái)測(cè)量消費(fèi)者生活本錢(qián)隨著時(shí)間的變化而變化如果消費(fèi)者的收入和生活本錢(qián)增長(zhǎng)相通他們的效用隨著時(shí)間的流逝將是不變的CPI 經(jīng)常被用來(lái)確定這樣的目標(biāo)即用于調(diào)整養(yǎng)老金或確定協(xié)議的補(bǔ)償條款應(yīng)該怎樣的得到的補(bǔ)償數(shù)為調(diào)整工程評(píng)估中通貨膨脹的效果多數(shù)作者喜歡使用一個(gè)常規(guī)的指數(shù)例如消費(fèi)者物價(jià)指數(shù)理由如下它是投資者的實(shí)際收入或我們?cè)噲D提高的購(gòu)置力這是使用CPI的一個(gè)好處貨幣的可變價(jià)值是通貨膨脹的原因當(dāng)通貨膨脹時(shí)貨幣價(jià)值下降通貨膨脹和通貨緊縮更容易發(fā)生在如食物汽車(chē)等商品和效勞物價(jià)上升時(shí)時(shí)候在另一方面對(duì)商業(yè)和政府而言如果利率和工資薪酬的增加沒(méi)有跟上一般物價(jià)的增長(zhǎng)那么通貨膨

38、脹就會(huì)削弱了儲(chǔ)蓄和收入購(gòu)置力通貨膨脹的類(lèi)型如下本錢(qián)推動(dòng)通貨膨脹生產(chǎn)者的本錢(qián)增加轉(zhuǎn)嫁給消費(fèi)者從而本錢(qián)增長(zhǎng)不成比例的拉動(dòng)物價(jià)增長(zhǎng)需求拉動(dòng)通貨膨脹過(guò)度的消費(fèi)能力限制了儲(chǔ)蓄增長(zhǎng)從而帶動(dòng)了物價(jià)的增長(zhǎng)收索相關(guān)文獻(xiàn)我們發(fā)現(xiàn)隱藏的通貨膨脹導(dǎo)致失業(yè)Kahraman 和 Tolga1995 年計(jì)算了隱蔽通貨膨脹的稅后影響De 和 Goswami2006 年發(fā)表了一個(gè)關(guān)于測(cè)量隱蔽性通貨膨脹率和延期付款后隱蔽程度的EOQ模型二通脹和利率之間的關(guān)系通貨膨脹在一定程度上影響每個(gè)人通貨膨脹程度決定了通貨膨脹的影響程度在溫和通貨膨脹下經(jīng)濟(jì)緩慢增長(zhǎng)日益增加的需求拉動(dòng)物價(jià)在惡性通貨膨脹下物價(jià)上漲高于工資上漲當(dāng)處在惡性通貨膨脹時(shí)惡性通貨膨脹是通貨膨脹之中危險(xiǎn)水平最高的不受控制的通貨膨脹摧毀一個(gè)國(guó)家的經(jīng)濟(jì)水平 Park2006 當(dāng)一個(gè)國(guó)家政治不穩(wěn)定政府過(guò)度支出國(guó)際貿(mào)易失衡等等夏普-Betteand 公園 1990 年將出現(xiàn)惡性通貨膨脹的問(wèn)題當(dāng)一國(guó)政府