经济学人281:德国房地产公司 非常安全

Business 商业报道 German property firms 德国房地产公司 Safe as houses 非常安全 The residential-property business is growing and consolidating 住宅地产商业正在扩大合并 THE British are obsessed with property ownership, but Ge

经济学人:六大经济学原理:菲利普斯曲线(2)

The next year it hit 5.4% even as unemployment changed little. 第二年，甚至在失业变化不大的情况下达到了5.4%。 The stagflation of the 1970s killed off the idea of a stable Phillips curve. 上世纪70年代滞张(stagflation)曾一度

经济学人:六大经济学原理:菲利普斯曲线(1)

The implication? 言下之意？ For a central bank to keep unemployment below the natural rate, it must keep outdoing itself, delivering inflation surprise after inflation surprise. 对于想把失业率维持在自然比率之下的央行来说，它

经济学人:六大经济学原理:通胀与失业的关系(1)

The relationship between inflation and unemployment was first studied by Irving Fisher in 1926. 1926年，通胀与失业之间的关系在欧文费雪(Irving Fisher)那里得到了第一次研究。 But the Phillips curve, as it came to be known, ow

经济学人:六大经济学原理:失业的自然比率(2)

If people cannot find jobs because they have outdated skillsthink hand weavers after the invention of the loomthey might become structurally unemployed. 如果人们是因为具有过时的技能而不能找到工作想想织布机发明之后的手工

经济学人:六大经济学原理:失业的自然比率(1)

Economics Brief 经济学简介 Six Big Ideas: The natural rate of unemployment 六大经济学原理：失业的自然比率 Central bankers' holy grail 央行银行家的圣杯 Policymakers have spent half a century in search of the natural rate of

经济学人:印度旅馆:阿鲁沙之家(2)

Aarusha's successful pitch is that its hostels are safer than slums or informal guest houses, especially for women. 阿鲁沙成功之处在于其青年旅馆比贫民窟和非正式宾馆更加安全，尤其是对女士而言。 It now has 4,300 be

经济学人:印度旅馆:阿鲁沙之家(1)

Business 商业 Aarusha Homes: Room to grow 阿鲁沙之家：增多的房间 The road to Indian prosperity is paved with cheap and cheerful hostels. 印度繁荣之路铺满了廉价且宜人的旅馆。 If several hundred million Indians do migrate

经济学人:过剩学问:人们不会长久地持有货币(5)

But what if the sought-after thing was $100 itself? 但是，如果孜孜以求的是100美元自己呢？ What if people produced goods to obtain money, not merely as a transactional device to be swiftly exchanged for other things, but as a store of

经济学人:过剩学问:萨伊定律(4)

Subsequent economists have tried to make sense of Say's law in the following way. 后来的经济学家试图用下面这种方式理解萨伊定律。 Imagine an economy that consists only of shoes and hats. 假设一个经济体，它仅由鞋子和帽

经济学人:六大经济学原理:通胀与失业的关系(2)

Mr Phelps began writing groundbreaking models of the labour market in 1966. 1966年，菲尔普斯开始构建开创性的劳动力市场模型。 A year later, Friedman gave what became the canonical criticism of the old way of thinking in an addres

经济学人:支付:收购者被收购(1)

Finance and Economics 财经 Payments: Acquirer acquired 支付：收购者被收购 An American payments firm goes online and buys British. 一家美国支付公司在线购买英国货。 A Bidding war was briefly but eagerly anticipated. In the en

经济学人:自由兑换:欧元区的经常账户盈余(1)

Greece's third bail-out programme came to an end on August 20th. 希腊第三次救市计划于8月20日结束。 A look at the causes of the country's near-decade of crisis illustrates how external imbalances can reflect underlying troubles. 希腊近

经济学人:资助慈善事业:高成本发展影响力债券的利与弊(1)

If a girl in a poor country goes to school, she will probably have a more comfortable life than if she stays at home. 如果欠发达国家的女孩去上学，那么相比待在家中，她的未来或许更加轻松。 She will be less likely to ma

经济学人:资助慈善事业:高成本发展影响力债券的利与弊(2)

For Safeena Husain, who runs Educate Girls, the process was as satisfying as the results. 对于女孩教育行动的创始人Safeena Husain而言，该项目的进程和结果一样令人满意。 Instead of having to send tedious reports to a donor

经济学人:微电网和发展:偏远地区的福利(2)

Vijay Bhaskar of Mlinda says a big mistake in development has been to assume that, Mlinda公司的Vijay Bhaskar表示发展中的一个大问题是假设 once people are hooked up to electricity, businesses will automatically flourish. 一旦人们通上

经济学人:贸易战争:谁是最后的赢家(1)

When Donald Trump tweeted on August 5th that tariffs were working big time, American media sprang into action to test the claim. 8月5日，唐纳德特朗普在推特上说，关税颇有成效，美国媒体蓄势待发，他们想要检验这种说法

经济学人:贸易战争:谁是最后的赢家(2)

The asymmetry in the trade war is another uncomfortable fact. 这场贸易战中的不对称是另一个让人不安的事实。 Since America buys far more from China than vice versa, America has more scope to impose tariffs. 由于美国从中国进口

经济学人:贸易战争:谁是最后的赢家(3)

Officials could opt to abandon their tightening stance in order to counteract the trade turmoil. But that might erase the gains from the deleveraging. 官方可以选择放弃他们紧缩的立场以求缓和贸易混乱。但这么做会抹去来自于

经济学人:自由兑换:欧元区的经常账户盈余(2)

Current-account imbalances are not always a cause for concern. 经常账户失衡并不总是一件令人担忧的事。 As a matter of arithmetic, they measure the gap between domestic savings and investment. 基于数理逻辑，他们对国内储蓄