{"id":588639,"date":"2025-08-20T07:03:15","date_gmt":"2025-08-20T14:03:15","guid":{"rendered":"https:\/\/nai500.com\/blog\/2025\/08\/%e7%95%b6%e5%82%b5%e5%8b%99%e4%b8%bb%e5%b0%8e%e5%88%a9%e7%8e%87%ef%bc%8c%e8%80%8c%e9%9d%9e%e4%b8%ad%e5%a4%ae%e9%8a%80%e8%a1%8c\/"},"modified":"2025-08-20T07:03:15","modified_gmt":"2025-08-20T14:03:15","slug":"%e7%95%b6%e5%82%b5%e5%8b%99%e4%b8%bb%e5%b0%8e%e5%88%a9%e7%8e%87%ef%bc%8c%e8%80%8c%e9%9d%9e%e4%b8%ad%e5%a4%ae%e9%8a%80%e8%a1%8c","status":"publish","type":"post","link":"https:\/\/nai500.com\/zh-hant\/blog\/2025\/08\/%e7%95%b6%e5%82%b5%e5%8b%99%e4%b8%bb%e5%b0%8e%e5%88%a9%e7%8e%87%ef%bc%8c%e8%80%8c%e9%9d%9e%e4%b8%ad%e5%a4%ae%e9%8a%80%e8%a1%8c\/","title":{"rendered":"\u7576\u50b5\u52d9\u4e3b\u5c0e\u5229\u7387\uff0c\u800c\u975e\u4e2d\u592e\u9280\u884c"},"content":{"rendered":"

\u5982\u679c\u771f\u6b63\u7684\u901a\u81a8\u76ee\u6a19\u662f\u653f\u5e9c\u7684\u5229\u606f\u652f\u51fa\uff0c\u90a3\u6703\u600e\u6a23\uff1f\u90a3\u4e9b\u7a31\u9019\u70ba\u8ca1\u653f\u4e3b\u5c0e\u65b0\u7d00\u5143\u7684\u6295\u8cc7\u4eba\u4e26\u975e\u8a87\u5f35\u3002\u4ed6\u5011\u6307\u51fa\u4e86\u986f\u800c\u6613\u898b\u7684\u4e8b\u5be6\uff1a\u7576\u50b5\u52d9\u5b58\u91cf\u9ad8\u4f01\u4e14\u501f\u6b3e\u6210\u672c\u4e0a\u5347\u6642\uff0c\u592e\u884c\u6dea\u70ba\u4e3b\u6b0a\u8005\u7684\u8cc7\u7522\u8ca0\u50b5\u8868\u7ba1\u7406\u8005\u3002\u5e02\u5834\u5c0d\u5229\u7387\u9ede\u9663\u5716\u548c\u8a18\u8005\u6703\u7684\u57f7\u8457\uff0c\u5ffd\u7565\u4e86\u66f4\u6df1\u5c64\u7684\u7d04\u675f\u3002\u50b5\u5238\u6578\u5b78\u73fe\u5728\u5df2\u7d93\u6bd4\u653f\u7b56\u8a71\u8a9e\u66f4\u6709\u5206\u91cf\u3002\u9019\u4e0d\u662f\u4e00\u7a2e\u9810\u6e2c\uff0c\u800c\u662f\u4e00\u7a2e\u9ad4\u5236\u63cf\u8ff0\u3002\u5b83\u6539\u8b8a\u4e86\u98a8\u96aa\u7684\u6240\u5728\u3001\u666f\u6c23\u5faa\u74b0\u5982\u4f55\u7d42\u7d50\uff0c\u4ee5\u53ca\u54ea\u4e9b\u8a0a\u865f\u4ecd\u5177\u53c3\u8003\u50f9\u503c\u3002\u5728\u9019\u500b\u4e16\u754c\u88e1\uff0c\u95dc\u9375\u554f\u984c\u4e0d\u518d\u662f\u592e\u884c\u80fd\u5426\u5c0d\u6297\u901a\u81a8\uff0c\u800c\u662f\u8003\u616e\u5230 Treasury \u7684\u5c55\u671f\u6392\u7a0b\u3001\u516c\u5171\u50b5\u52d9\u7684\u5230\u671f\u7d50\u69cb\uff0c\u4ee5\u53ca\u8d85\u51fa\u7a05\u6536\u7684\u653f\u6cbb\u6027\u652f\u51fa\u9700\u6c42\uff0c\u4ed6\u5011\u662f\u5426\u88ab\u5141\u8a31\u53bb\u9019\u9ebc\u505a\u3002<\/p>\n

\u8ca1\u653f\u4e3b\u5c0e\u8207\u592e\u884c\u7368\u7acb\u6027<\/h3>\n

\u8ca1\u653f\u4e3b\u5c0e\u4e0d\u662f\u53e3\u865f\uff0c\u5b83\u662f\u69d3\u687f\u3002\u6230\u5f8c\u7f8e\u570b\u57281940\u5e74\u4ee3\u5c31\u898b\u904e\u985e\u4f3c\u60c5\u5f62\uff0c\u7576\u6642\u900f\u904e\u6b96\u5229\u7387\u66f2\u7dda\u63a7\u5236\u70ba\u6230\u6642\u8d64\u5b57\u878d\u8cc7\u3002\u4eca\u5929\u7684\u985e\u6bd4\u8f03\u70ba\u6eab\u548c\u4f46\u4ecd\u6709\u76f8\u4f3c\u4e4b\u8655\u3002\u5404\u570b\u653f\u5e9c\u5728\u52de\u52d5\u5e02\u5834\u7dca\u4fcf\u6642\u64f4\u5927\u8d64\u5b57\uff0c\u50b5\u52d9\u5b58\u91cf\u6500\u81f3\u6b77\u53f2\u9ad8\u9ede\u3002\u7576\u5229\u7387\u4e0a\u5347\uff0c\u5229\u606f\u652f\u51fa\u6703\u6709\u6642\u6eef\u5730\u8ddf\u9032\uff0c\u6fc0\u52f5\u7d50\u69cb\u7531\u6b64\u6539\u8b8a\u3002\u653f\u6cbb\u4eba\u7269\u958b\u59cb\u516c\u958b\u6566\u4fc3\u964d\u606f\uff0c\u8868\u9762\u4ee5\u4fc3\u6210\u6210\u9577\u70ba\u7531\uff0c\u5be6\u969b\u76ee\u6a19\u662f\u7de9\u89e3\u50b5\u52d9\u670d\u52d9\u58d3\u529b\u3002\u9019\u7a2e\u58d3\u529b\u4e0d\u662f\u7406\u8ad6\u4e0a\u7684\u5047\u8a2d\uff1b\u5728\u591a\u6578\u4e3b\u8981\u7d93\u6fdf\u9ad4\u7684\u8a00\u8ad6\u8207\u884c\u52d5\u4e2d\u5df2\u53ef\u898b\u7aef\u502a\u3002\u5373\u4fbf\u7368\u7acb\u7684\u592e\u884c\u4e5f\u9762\u81e8 Kydland and Prescott \u6240\u63cf\u8ff0\u7684\u6642\u9593\u4e0d\u4e00\u81f4\u554f\u984c\uff1a\u4eca\u5929\u7684\u6700\u9069\u89e3\uff0c\u660e\u5929\u53ef\u80fd\u5728\u653f\u6cbb\u4e0a\u8b8a\u5f97\u4e0d\u53ef\u884c\u3002\u5be6\u52d9\u4e0a\uff0c\u4e3b\u6b0a\u878d\u8cc7\u9700\u6c42\u7684\u91cd\u91cf\u958b\u59cb\u58d3\u6291\u653f\u7b56\u5229\u7387\u4e26\u5851\u9020\u6b96\u5229\u7387\u66f2\u7dda\u3002Bank for International Settlements \u5df2\u63d0\u9192\uff0c\u4e3b\u6b0a\u501f\u8cb8\u662f\u6700\u5927\u7684\u7a69\u5b9a\u6027\u98a8\u96aa\u3002the Fed \u7684\u7a69\u5b9a\u6027\u7814\u7a76\u66f4\u628a\u7f8e\u570b\u50b5\u52d9\u53ef\u6301\u7e8c\u6027\u7f6e\u65bc\u901a\u81a8\u4e4b\u4e0a\uff0c\u6210\u70ba\u9996\u8981\u95dc\u5207\u3002\u7576\u88c1\u5224\u54e1\u8b66\u544a\u904a\u6232\u898f\u5247\u5df2\u8b8a\u6642\uff0c\u61c9\u7576\u6ce8\u610f\u3002\u90a3\u4e9b\u5047\u8a2d\u592e\u884c\u8b77\u76e4\u4ecd\u5b8c\u6574\u7121\u640d\u7684\u6295\u8cc7\u4eba\u770b\u932f\u4e86\u65b9\u5411\u3002\u65b0\u7684\u4fdd\u8b77\u5098\u5728\u8ca1\u653f\u7576\u5c40\u624b\u4e0a\uff0c\u5b83\u95dc\u5fc3\u7684\u662f\u5c55\u671f\u98a8\u96aa\uff0c\u800c\u975e\u4f60\u7684\u590f\u666e\u6bd4\u7387\u3002<\/p>\n

\u50b5\u52d9\u53ef\u6301\u7e8c\u6027\u8207\u65b0\u7684\u671f\u9650\u6ea2\u916c<\/h3>\n

\u7576 r \u9577\u671f\u8d85\u904e g \u6642\uff0c\u50b5\u5238\u6578\u5b78\u4fbf\u88ab\u653f\u6cbb\u5316\u3002\u5982\u679c\u50b5\u52d9\u7684\u5e73\u5747\u5229\u7387 r \u9577\u671f\u9ad8\u65bc\u540d\u76ee\u6210\u9577\u7387 g\uff0c\u50b5\u52d9\u5c0d GDP \u6bd4\u7387\u5c07\u4e0a\u5347\uff0c\u9664\u975e\u51fa\u73fe\u521d\u7d1a\u76c8\u9918\u3002\u90a3\u610f\u5473\u8457\u8981\u9ebc\u589e\u7a05\u3001\u8981\u9ebc\u780d\u652f\u51fa\u3001\u8981\u9ebc\u5bb9\u5fcd\u66f4\u9ad8\u7684\u901a\u81a8\u3002\u6b77\u53f2\u986f\u793a\uff0c\u963b\u529b\u6700\u5c0f\u7684\u8def\u5f91\u662f\u5c07\u554f\u984c\u91d1\u878d\u5316\uff1a\u9328\u5b9a\u77ed\u7aef\u3001\u8abf\u7bc0\u671f\u9650\u6ea2\u916c\uff0c\u8b93\u5be6\u8cea\u6536\u76ca\u7387\u4f4e\u65bc\u6210\u9577\u7387\u3002\u9019\u6a23\u50b5\u52d9\u5b58\u91cf\u5728\u5be6\u8cea\u4e0a\u5f97\u4ee5\u300c\u878d\u5316\u300d\u3002\u4f46\u5e02\u5834\u4e0d\u6703\u7121\u511f\u8b93\u6b65\u3002\u7576\u767c\u884c\u91cf\u5927\u3001\u8cb7\u65b9\u57fa\u790e\u8b8a\u52d5\u3001\u4e14\u901a\u81a8\u98a8\u96aa\u672a\u660e\u6717\u6642\uff0c\u671f\u9650\u6ea2\u916c\u6703\u64f4\u5927\u3002\u7d50\u679c\u662f\u4e00\u500b\u4e0d\u7a69\u5b9a\u7684\u978d\u9ede\u7d50\u69cb\uff1a\u77ed\u7aef\u5229\u7387\u53d7\u5230\u653f\u6cbb\u58d3\u6291\uff0c\u9577\u7aef\u5229\u7387\u5247\u53d7\u767c\u884c\u8207\u98a8\u96aa\u6ea2\u916c\u727d\u5f15\u3002\u9810\u671f\u77ed\u9577\u7aef\u4e4b\u9593\u7684\u5229\u5dee\u64f4\u5927\uff0c\u66f2\u7dda\u6ce2\u52d5\u66f4\u5287\u70c8\u3002\u8207\u5176\u76ef\u8457\u5229\u7387\u9ede\u9663\u5716\uff0c\u4e0d\u5982\u66f4\u95dc\u6ce8 Treasury \u7684\u5e73\u5747\u5230\u671f\u8207\u518d\u878d\u8cc7\u65e5\u7a0b\u3002\u5728\u4f4e\u5229\u7387\u6642\u4ee3\u7e2e\u77ed\u4e45\u671f\u7684\u767c\u884c\u8005\uff0c\u7576\u7968\u606f\u91cd\u8a2d\u6642\u9762\u81e8\u66f4\u9661\u5ced\u7684\u4e0a\u5347\u8def\u5f91\u3002\u6a5f\u7387\u5206\u914d\u5728\u5c3e\u90e8\u8b8a\u539a\uff0c\u4e0d\u80fd\u518d\u5047\u8a2d\u50b5\u5238\u59cb\u7d42\u80fd\u53ef\u9760\u5730\u5206\u6563\u98a8\u96aa\u3002\u5982\u679c\u653f\u7b56\u88ab\u8feb\u5728\u77ed\u7aef\u58d3\u4f4e\u6b96\u5229\u7387\uff0c\u800c\u9577\u7aef\u4efb\u5176\u6f02\u79fb\uff0c\u80a1\u7968\u8207\u532f\u5e02\u5c07\u627f\u53d7\u885d\u64ca\u3002Stephen Jen \u76f4\u8a00\u4e0d\u8af1\u5730\u6307\u51fa\uff1a\u8ca1\u653f\u653f\u7b56\u5df2\u6210\u70ba\u4e3b\u8981\u9a45\u52d5\u529b\uff1b\u592e\u884c\u5c07\u88ab\u8feb\u56de\u61c9\u3002\u9019\u7a2e\u6b0a\u91cd\u7684\u5012\u7f6e\u544a\u8a34\u4f60\uff0c\u73fe\u5728\u7684\u50f9\u683c\u767c\u73fe\u4f4d\u65bc\u8ca1\u653f\u908a\u7de3\uff0c\u800c\u4e0d\u662f\u653f\u7b56\u8b1b\u53f0\u3002<\/p>\n

\u91d1\u878d\u58d3\u6291\u662f\u5236\u5ea6\u7279\u6027\uff0c\u4e0d\u662f\u7f3a\u9677<\/h3>\n

\u5982\u679c\u4f60\u7121\u6cd5\u516c\u958b\u9055\u7d04\uff0c\u4e5f\u4e0d\u80fd\u4ea4\u51fa\u6301\u7e8c\u7684\u521d\u7d1a\u76c8\u9918\uff0c\u4f60\u5c31\u6703\u58d3\u6291\u30021940\u82071950\u5e74\u4ee3\u9760\u6536\u76ca\u7387\u4e0a\u9650\u3001\u53d7\u63a7\u7684\u5132\u84c4\u5229\u7387\u4ee5\u53ca\u88ab\u5708\u990a\u7684\u570b\u5167\u8cb7\u65b9\u57fa\u790e\u4f86\u505a\u5230\u9019\u9ede\u3002\u73fe\u4ee3\u4e5f\u6709\u5de5\u5177\u53ef\u7528\u3002\u512a\u5148\u6301\u6709\u4e3b\u6b0a\u7d19\u5f35\u7684\u6d41\u52d5\u6027\u8207\u8cc7\u672c\u898f\u5247\uff1b\u4ee5\u8edf\u6027\u6307\u5f15\u63a8\u52d5\u9280\u884c\u3001\u4fdd\u96aa\u516c\u53f8\u8207\u9000\u4f11\u57fa\u91d1\u6301\u6709\u66f4\u591a\u4e45\u671f\u8cc7\u7522\uff1b\u5c0d\u6301\u6709\u5230\u671f\u7684\u7a05\u52d9\u8207\u6703\u8a08\u5f85\u9047\u4e88\u4ee5\u512a\u60e0\u3002\u9019\u4e9b\u4e0d\u662f\u9670\u8b00\u8ad6\uff0c\u5b83\u5011\u662f\u70ba\u4e86\u4f7f\u8cc7\u7522\u8ca0\u50b5\u8868\u8207\u570b\u5bb6\u9700\u6c42\u76f8\u4e00\u81f4\u7684\u653f\u7b56\u9078\u64c7\u3002\u6548\u679c\u662f\u4e00\u7a2e\u900f\u904e\u8ca0\u5be6\u8cea\u5229\u7387\u5f9e\u5132\u84c4\u8005\u5411\u4e3b\u6b0a\u8f49\u79fb\u7684\u96b1\u6027\u8f49\u79fb\u3002\u8868\u9762\u770b\u4f86\u79e9\u5e8f\u4e95\u7136\uff0c\u76f4\u5230\u4e0d\u518d\u5982\u6b64\u3002\u58d3\u529b\u4e0d\u6703\u6d88\u5931\uff0c\u53ea\u6703\u9077\u79fb\u3002\u5982\u679c\u50b5\u5238\u6536\u76ca\u7387\u88ab\u6291\u5236\uff0c\u532f\u7387\u53ef\u80fd\u627f\u64d4\u58d3\u529b\uff0c\u80a1\u7968\u98a8\u96aa\u6ea2\u916c\u4e5f\u53ef\u80fd\u627f\u64d4\u3002\u666f\u6c23\u7684\u7e41\u884d\u8207\u5d29\u6f70\u8da8\u52e2\u5c31\u5f9e\u5229\u7387\u8f49\u5411\u5916\u532f\u8207\u4fe1\u7528\u5229\u5dee\u3002\u9019\u662f\u53d7\u7d04\u675f\u7cfb\u7d71\u7684\u5178\u578b\u884c\u70ba\u2014\u2014\u50cf\u4e00\u5ea7\u9577\u671f\u8ca0\u8377\u7684\u6a4b\u6881\uff0c\u672a\u88ab\u660e\u986f\u52a0\u56fa\u7684\u69cb\u4ef6\u6703\u7522\u751f\u5171\u632f\u3002\u6295\u8cc7\u4eba\u6703\u88ab\u544a\u77e5\uff0c\u9019\u7a2e\u5c0d\u9f4a\u662f\u8b39\u614e\u7684\u98a8\u96aa\u7ba1\u7406\u3002\u6709\u6642\u5b83\u78ba\u5be6\u662f\u3002\u4f46\u5b83\u4e5f\u589e\u52a0\u4e86\u96b1\u6027\u76f8\u95dc\u6027\u3002\u7576\u570b\u5bb6\u6210\u70ba\u7cfb\u7d71\u4e2d\u6700\u5927\u7684\u501f\u6b3e\u4eba\uff0c\u53c8\u540c\u6642\u76e3\u7ba1\u81ea\u5df1\u7684\u8cb8\u65b9\uff0c\u5c31\u6703\u69cb\u7bc9\u4e00\u500b\u5728\u8868\u9762\u7a69\u5b9a\u4f46\u4e00\u65e6\u5931\u9748\u5c31\u8fc5\u901f\u5d29\u6f70\u7684\u5384\u904b\u8ff4\u5708\u3002\u90a3\u5c31\u662f\u585e\u6d85\u5361\u61f8\u5d16\uff1a\u58d3\u529b\u7de9\u6162\u7d2f\u7a4d\uff0c\u7136\u5f8c\u8fc5\u901f\u65b7\u88c2\u3002<\/p>\n

\u8d85\u8d8a\u4e3b\u6b0a\u7684\u60e1\u6027\u5faa\u74b0<\/h3>\n

\u4e3b\u6b0a\u8207\u9280\u884c\u7684\u9023\u7d50\u662f\u986f\u800c\u6613\u898b\u7684\u8ff4\u5708\u3002\u70ba\u6eff\u8db3\u6d41\u52d5\u6027\u898f\u5247\uff0c\u9280\u884c\u6301\u6709\u5927\u91cf\u653f\u5e9c\u50b5\u5238\u3002\u6b96\u5229\u7387\u4e0a\u5347\u6703\u900f\u904e\u5e02\u503c\u640d\u5931\u58d3\u7e2e\u8cc7\u672c\u3002\u6b96\u5229\u7387\u4e0b\u964d\u5247\u63d0\u4f9b\u5598\u606f\uff0c\u4ee3\u50f9\u662f\u5176\u4ed6\u5f62\u5f0f\u7684\u91d1\u878d\u58d3\u6291\u3002\u8f03\u4e0d\u660e\u986f\u7684\u8ff4\u5708\u5b58\u5728\u65bc\u5dde\u8207\u5730\u65b9\u8ca1\u653f\u4ee5\u53ca\u9577\u671f\u8ca0\u50b5\u578b\u6a5f\u69cb\u3002\u5730\u65b9\u653f\u5e9c\u64f4\u5f35\u652f\u51fa\u8207\u69d3\u687f\uff0c\u5e38\u4f34\u96a8\u4ee5\u5047\u8a2d\u56de\u5831\u8207\u901a\u81a8\u6eab\u548c\u7684\u9000\u4f11\u91d1\u627f\u8afe\u3002\u9019\u7a2e\u60c5\u6cc1\u8207\u5371\u6a5f\u524d\u7684\u9280\u884c\u985e\u6bd4\uff0c\u4e0d\u5728\u65bc\u884d\u751f\u6027\u5546\u54c1\uff0c\u800c\u5728\u65bc\u7d50\u69cb\u770b\u4f3c\u5b89\u5168\uff0c\u76f4\u5230\u8cc7\u7522\u50f9\u683c\u6216\u8cbc\u73fe\u7387\u7a0d\u6709\u8b8a\u52d5\u3002\u4e00\u500b\u5c0f\u5e45\u7684\u5be6\u8cea\u5229\u7387\u6216\u878d\u8cc7\u6210\u672c\u8b8a\u52d5\uff0c\u53ef\u80fd\u8fc5\u901f\u626d\u8f49\u511f\u4ed8\u80fd\u529b\u8a08\u7b97\u3002\u9019\u662f\u5178\u578b\u7684\u51f8\u6027\u98a8\u96aa\u30022010\u5e74\u6642\u5c0d\u5dde\u8ca1\u653f\u7684\u8b66\u544a\u88ab\u65a5\u70ba\u5371\u8a00\u8073\u807d\uff0c\u4f46\u8106\u5f31\u6027\u662f\u771f\u5be6\u5b58\u5728\u7684\uff0c\u53ea\u662f\u6d6e\u73fe\u7684\u6642\u5e8f\u548c\u5730\u5e36\u4e0d\u540c\u3002\u5728\u8ca1\u653f\u4e3b\u5c0e\u4e0b\uff0c\u9019\u4e9b\u5730\u65b9\u6027\u58d3\u529b\u66f4\u91cd\u8981\u3002\u4e2d\u592e\u653f\u5e9c\u6703\u8a66\u5716\u7a69\u5b9a\u6838\u5fc3\uff0c\u9019\u610f\u5473\u8457\u5468\u908a\u98a8\u96aa\u53ef\u80fd\u88ab\u8feb\u5438\u6536\u6ce2\u52d5\u3002\u5371\u6a5f\u5c31\u662f\u9019\u6a23\u8de8\u57df\u8df3\u8e8d\u3002\u4f60\u4ee5\u70ba\u81ea\u5df1\u5728\u7528 Treasuries \u5c0d\u6c96\u4e45\u671f\u98a8\u96aa\uff0c\u4f46\u4f60\u7684\u5c0d\u624b\u65b9\u53ef\u80fd\u662f\u7528\u77ed\u7aef\u8cc7\u91d1\u652f\u6490\u9577\u671f\u8cc7\u7522\u7684\u5730\u5340\u6027\u9280\u884c\uff1b\u6216\u8005\u4f60\u7684\u914d\u7f6e\u8005\u662f\u4e00\u500b\u5728\u5be6\u8cea\u6536\u76ca\u70ba\u8ca0\u6642\u8ce3\u51fa\u6d41\u52d5\u6027\u8cc7\u7522\u4ee5\u652f\u4ed8\u7d66\u4ed8\u7684\u9000\u4f11\u57fa\u91d1\u3002\u5728\u535a\u5f08\u8ad6\u7684\u8a9e\u5883\u4e0b\uff0c\u8ca1\u653f\u4e2d\u5fc3\u70ba\u4e86\u81ea\u8eab\u5b58\u7e8c\u6703\u628a\u6210\u672c\u63a8\u7d66\u8ac7\u5224\u529b\u6700\u5f31\u7684\u4ee3\u7406\u8005\u3002\u9019\u4e0d\u662f\u9053\u5fb7\u8aaa\u6559\uff0c\u800c\u662f\u4e00\u500b\u6a21\u578b\u3002\u6b64\u8655\u7684\u5c3e\u90e8\u98a8\u96aa\u662f\u653f\u6cbb\u6027\u8207\u8ca8\u5e63\u6027\uff0c\u800c\u4e0d\u50c5\u50c5\u662f\u5229\u7387\u76f8\u95dc\u7684\u3002\u539a\u5c3e\u6703\u4ee5\u7a81\u5982\u5176\u4f86\u7684\u653f\u7b56\u8f49\u5411\u5448\u73fe\u2014\u2014\u7a81\u7136\u7684\u4e0a\u9650\u3001\u7dca\u6025\u6d41\u52d5\u6027\u898f\u5247\u6216\u8cc7\u672c\u5f15\u5c0e\u3002\u9000\u51fa\u7684\u8eca\u9053\u72f9\u7a84\uff0c\u56e0\u70ba\u7cfb\u7d71\u88ab\u8a2d\u8a08\u6210\u8981\u4e00\u76f4\u5728\u9ad8\u901f\u516c\u8def\u4e0a\u884c\u99db\u3002<\/p>\n

\u4ec0\u9ebc\u6703\u6253\u7834\u9019\u4e00\u9ad4\u5236\uff0c\u4ee5\u53ca\u54ea\u4e9b\u8a0a\u865f\u4ecd\u7136\u91cd\u8981<\/h3>\n

\u5b58\u5728\u4e09\u689d\u9053\u8def\uff1a\u53ef\u4fe1\u7684\u8ca1\u653f\u4fee\u5fa9\u3001\u660e\u78ba\u7684\u91d1\u878d\u58d3\u6291\uff0c\u6216\u7121\u5e8f\u8abf\u6574\u3002\u6700\u53ef\u80fd\u7684\u8def\u5f91\u662f\u524d\u5169\u8005\u7684\u6df7\u5408\uff0c\u5c0d\u5916\u5305\u88dd\u70ba\u8b39\u614e\uff0c\u5be6\u5247\u53d7\u50b5\u5238\u6578\u5b78\u9a45\u52d5\u3002BIS \u7684\u8aaa\u6cd5\u76f8\u7576\u76f4\u767d\u3002\u592e\u884c\u6703\u8ac7\u8ad6\u6578\u64da\u4f9d\u8cf4\uff0c\u4f46\u771f\u6b63\u675f\u7e1b\u7684\u662f\u8ca1\u653f\u7b97\u8853\u8207\u793e\u6703\u5c0d\u7dca\u7e2e\u7684\u5bb9\u5fcd\u5ea6\u3002\u6295\u8cc7\u4eba\u61c9\u8a72\u985b\u5012\u4ed6\u5011\u7684\u5206\u6790\u6d41\u7a0b\u3002\u5c11\u628a\u6642\u9593\u82b1\u5728\u4e0b\u4e00\u6b21 CPI \u6578\u64da\u4e0a\uff0c\u591a\u95dc\u6ce8\u521d\u7d1a\u8ca1\u653f\u6536\u652f\u3001\u5230\u671f\u7d50\u69cb\uff0c\u4ee5\u53ca\u8ab0\u662f\u767c\u884c\u7684\u908a\u969b\u8cb7\u5bb6\u3002\u76e3\u6e2c\u540d\u76ee\u6210\u9577\u8207\u5e73\u5747\u878d\u8cc7\u6210\u672c\u4e4b\u9593\u7684\u5229\u5dee\uff1b\u5b83\u662f\u7cfb\u7d71\u7684\u652f\u9ede\u3002\u95dc\u6ce8\u90a3\u4e9b\u5275\u9020\u88ab\u5708\u990a\u9700\u6c42\u7684\u76e3\u7ba1\u69d3\u687f\u662f\u5426\u88ab\u555f\u7528\u3002\u89c0\u5bdf\u532f\u7387\u6ce2\u52d5\u662f\u5426\u5728\u627f\u53d7\u5229\u7387\u7a69\u5b9a\u5e36\u4f86\u7684\u58d3\u529b\u3002\u9019\u4e9b\u90fd\u662f\u5728\u300c\u50b5\u52d9\u6c7a\u5b9a\u5229\u7387\u300d\u9ad4\u5236\u4e0b\u7684\u91cd\u8981\u4fe1\u865f\u3002\u9006\u5411\u7684\u89c0\u9ede\u5f88\u7c21\u55ae\uff1a\u6700\u5927\u7684\u98a8\u96aa\u4e0d\u662f\u592e\u884c\u672a\u80fd\u53ca\u6642\u5347\u964d\u606f\uff0c\u800c\u662f\u6574\u500b\u7cfb\u7d71\u7121\u6cd5\u5bb9\u5fcd\u5176\u81ea\u8eab\u901a\u81a8\u8207\u6210\u9577\u52d5\u614b\u6240\u6697\u793a\u7684\u5229\u7387\u8def\u5f91\u3002\u9019\u662f\u8a2d\u8a08\u4e0a\u7684\u8106\u5f31\u6027\u3002\u5b83\u6703\u734e\u52f5\u5c0a\u91cd\u9078\u64c7\u6b0a\u3001\u64c1\u6709\u7a69\u5065\u8cc7\u7522\u8ca0\u50b5\u8868\uff0c\u4e26\u610f\u8b58\u5230\u5728\u8ca1\u653f\u4e3b\u5c0e\u4e0b\uff0c\u7a69\u5b9a\u662f\u4ee5\u5176\u4ed6\u5730\u65b9\u96b1\u533f\u7684\u6ce2\u52d5\u70ba\u4ee3\u50f9\u8cfc\u5f97\u7684\u7b56\u7565\u3002\u5e02\u5834\u6700\u7d42\u6703\u767c\u73fe\u90a3\u500b\u50f9\u683c\u3002\u552f\u4e00\u7684\u554f\u984c\u662f\uff0c\u54ea\u500b\u8cc7\u7522\u985e\u5225\u8981\u70ba\u6b64\u57cb\u55ae\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"

\u5728\u8ca1\u653f\u4e3b\u5c0e\u7684\u65b0\u6642\u4ee3\uff0c\u50b5\u52d9\u898f\u6a21\u5de6\u53f3\u592e\u884c\u884c\u52d5\uff0c\u98a8\u96aa\u683c\u5c40\u96a8\u4e4b\u8f49\u8b8a\uff0c\u4e26\u51f8\u986f\u8ca1\u653f\u6c38\u7e8c\u6027\u6bd4\u50b3\u7d71\u653f\u7b56\u5de5\u5177\u66f4\u70ba\u95dc\u9375\u3002<\/p>\n","protected":false},"author":52,"featured_media":587487,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[429],"tags":[2165,2162],"class_list":["post-588639","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economics-politics-zh-hant","tag--zh-hant","tag-2162"],"acf":[],"_links":{"self":[{"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/posts\/588639","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/users\/52"}],"replies":[{"embeddable":true,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/comments?post=588639"}],"version-history":[{"count":0,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/posts\/588639\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/media\/587487"}],"wp:attachment":[{"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/media?parent=588639"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/categories?post=588639"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/tags?post=588639"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}