cyclical effect meaning in English

循环效应

On the other hand , putting aside the cyclical effects in the world economy and so in international trade , the migration of operations to the mainland must have meant sharp increases in profit margins for manufacturers , given that they sell their products at world prices
另一方面，撇开全球经济以至国际贸易的周期性盛衰不谈，由于厂商将生产工序北移后所制成的货品，仍然按世界市场价格出售，他们所得的毛利必然增加。
Chapter 1 gives an overview of the research about the cyclical effect on pd . according to these researches , most of them believe pd is different between expansion and recession significantly . and there is an existence of asymmetric , that is pd increases significantly during economic downturns , but does not decrease significantly during economic upturns
本文所提出的计算违约概率的模型利用国内上市公司的财务数据以及在上交所上市的国债收益率首次把违约概率与经济周期联系起来,通过假定经济存在扩张期和衰退期两个阶段,并预测出相应的概率p ( e )和p ( r ) 。