哪位高手能帮我翻译一下这段关于金融方面的英文?小妹不胜感激!!

fourth,renminbi relative purchasing power level and base period choice when because the purchasing had been establ**hed,the actual exchange rate ** opposite in the base period exchange rate maintenance ** invariable.in turn,if the actual exchange rate and the base period exchange rate h**e the difference,then may obtain the purchasing power appra**al not to be untenable.so long as therefore definite base period level!and thought in base period level the actual exchange rate maintains ** collecting in balanced the level,then through the relative price change to the base period nominal exchange rate adjustment,obtains various **sue of actual exchange rate.finally compares each **sue of actual exchange rate and the base period actual exchange rate,may judge the actual exchange rate whether also maintains in the balanced exchange rate level.but the key lies in the base period in the choice.because the relative purchasing thought in the base period absolute purchasing ** tenable,therefore the base period reality actual exchange rate ** the balanced exchange rate.if selects in the research the base period ** different,for example some people take the high bloating year as the base periods,some people take the low bloating year as the base periods,has take the nominal exchange rate big adjustment before as the base period,has depreciates after year take the standard currency as the base period,finally obtains the balanced actual exchange rate difference extremely ** big,causes one person to h**e a judgment exchange rate detuning standard,has like th** lost the balanced exchange rate research significance.similarly when use purchasing computation renminbi balanced exchange rate,the exchange rate base period choice appears extremely importantly.but these flaws are relative purchasing own flaws.
based on relative exchange rate base period choice flaw,also may explain partially why aims at us dollar to underestimate the degree,the relative purchasing and the absolute purchasing underestimated the degree ** different.as shown in table 1,w expressed the relative purchasing,e/s above expressed the absolute purchasing(s/e's reciprocal),its respectively be contrasts th** row data 1990 to 1998 data,may see in view of us dollar underestimates the degree,the relative purchasing power and the absolute purchasing power underestimated the degree ** different.part of reasons on in the base period choice,see the following formula:
after the compar**on,one of both differences then was a latter formula many base period exchange rate coefficient.certainly absolute purchasing itself also has certain factors,like the transportation cost,the fixed price d**crimination and so on will also cause these to underestimate the difference the difference,here no longer will give unnecessary detail.
if in weight relative purchasing time can **oid the base period choice effectively,then it measured the result had certain reliability.now up to,some many experts entire examines two methods based on the measurement analytic method like unit root examination harmonious cooperation to exchange us dollar exchange rate to the renminbi to carry on the purchasing examination,finally indicated the renminbi and us dollar between relative purchasing are tenable.the renminbi exchange rate change corresponds between china and america the price level change.