The results show that Chinese foreign exchange reserve long-term equilibrium demand and actual scale inconsistencies, margin over timeconstant changes, and more than a moderate scale.
结果表明我国外汇储备长期均衡需求与实际规模并不一致,差额随时间推移不断变化,并且超过了适度规模。
2
If these premiums are constant over time, the central bank can still determine long-term interest rate via changing (market agents' expectations regarding future) short-term interest rates.
So, for example, if we're to hold the timeconstant, this makes it a lot simpler of an equation, because what we can end up doing is actually crossing out this whole term here.