开发者:上海品职教育科技有限公司 隐私政策详情

应用版本:4.2.11(IOS)｜3.2.5(安卓)APP下载

返回

颖 · 2022年11月09日

回答角度问题

  1. CFA III
  2. Capital Market Expectations

NO.PZ2020012102000011

问题如下：

Fap is a small country whose currency is the Fip. Three years ago, the exchange rate was considered to be reflecting purchasing power parity (PPP). Since then, the country’s inflation has exceeded inflation in the other countries by about 5% per annum. The Fip exchange rate, however, remained broadly unchanged.

What would you have expected the Fip exchange rate to show if PPP prevailed? Are Fips over or undervalued, according to PPP?

解释：

According to PPP, to offset the effect of the higher inflation in Fap, the Fip should have depreciated against the other currencies by approximately the difference between Fap inflation and that in the other countries. According to PPP, Fip is overvalued.

解析：根据购买力平价理论，为了抵消Fap中较高的通货膨胀的影响，Fip应该对其他货币贬值大约是Fap通货膨胀与其他国家之间的差额。根据购买力平价理论，Fip被高估了。

如果我回答按照ppp，外国通胀升高，（s1-s0）/s0减少，即s1降低，本币会升值，但现在没升值所以overvalued，这么回答可以吗？答案里那种为了offset…的角度我第一反应不会从那个角度考虑

添加评论
1 个答案

源_品职助教 · 2022年11月10日

嗨，努力学习的PZer你好：


我觉得同学这么回答也是可以的，因为你也写了依照PPP，结论也是被高估。论据和结论都是正确的。

所以OFFSET有没有个人觉得没有关系。

----------------------------------------------
加油吧，让我们一起遇见更好的自己！

  • 1

    回答

  • 0

    关注

  • 268

    浏览
相关问题

NO.PZ2020012102000011 问题如下 Fis a small country whose currenis the Fip. Three years ago, the exchange rate wconsireto reflecting purchasing power parity (PPP). Sinthen, the country’s inflation hexceeinflation in the other countries about 5% per annum. The Fip exchange rate, however, remainebroay unchange Whwoulyou have expectethe Fip exchange rate to show if PPP prevaile Are Fips over or unrvalue accorng to PPP? Accorng to PPP, to offset the effeof the higher inflation in Fap, the Fip shoulhave preciateagainst the other currencies approximately the fferenbetween Finflation anthin the other countries. Accorng to PPP, Fip is overvalue 解析根据购买力平价理论，为了抵消Fap中较高的通货膨胀的影响，Fip应该对其他货币贬值大约是Fap通货膨胀与其他国家之间的差额。根据购买力平价理论，Fip被高估了。 如题。什么样的情况下要写先overshooting，然后在回归正常PPP判断下的汇率水平。

2024-04-24 12:58 2 · 回答

NO.PZ2020012102000011 问题如下 Fis a small country whose currenis the Fip. Three years ago, the exchange rate wconsireto reflecting purchasing power parity (PPP). Sinthen, the country’s inflation hexceeinflation in the other countries about 5% per annum. The Fip exchange rate, however, remainebroay unchange Whwoulyou have expectethe Fip exchange rate to show if PPP prevaile Are Fips over or unrvalue accorng to PPP? Accorng to PPP, to offset the effeof the higher inflation in Fap, the Fip shoulhave preciateagainst the other currencies approximately the fferenbetween Finflation anthin the other countries. Accorng to PPP, Fip is overvalue 解析根据购买力平价理论，为了抵消Fap中较高的通货膨胀的影响，Fip应该对其他货币贬值大约是Fap通货膨胀与其他国家之间的差额。根据购买力平价理论，Fip被高估了。 The excess inflation have negative impaon competivenss of Fap.To maintain competiveness, Fip shoulpreciate, thus offset the appreciate impaimpliePPP, so exchange rate of Fip remaineunchange even PPP prevaileAccorng to PPP only, Fip shoulpreciate for the excess inflation, but inenot, so Fip is overvalue

2024-04-10 23:48 3 · 回答

NO.PZ2020012102000011 问题如下 Fis a small country whose currenis the Fip. Three years ago, the exchange rate wconsireto reflecting purchasing power parity (PPP). Sinthen, the country’s inflation hexceeinflation in the other countries about 5% per annum. The Fip exchange rate, however, remainebroay unchange Whwoulyou have expectethe Fip exchange rate to show if PPP prevaile Are Fips over or unrvalue accorng to PPP? Accorng to PPP, to offset the effeof the higher inflation in Fap, the Fip shoulhave preciateagainst the other currencies approximately the fferenbetween Finflation anthin the other countries. Accorng to PPP, Fip is overvalue 解析根据购买力平价理论，为了抵消Fap中较高的通货膨胀的影响，Fip应该对其他货币贬值大约是Fap通货膨胀与其他国家之间的差额。根据购买力平价理论，Fip被高估了。 按照这位同学的解答过程，我在下面这个逻辑卡住了，没办法理解到。已知S1-S0 0, S = A/B,推出: B升值，A贬值疑惑如果S = A/B，B升值，A贬值，那么S1应该变小呀，此时不是S1-S0 0吗？？？？

2024-04-09 14:51 1 · 回答

NO.PZ2020012102000011 问题如下 Fis a small country whose currenis the Fip. Three years ago, the exchange rate wconsireto reflecting purchasing power parity (PPP). Sinthen, the country’s inflation hexceeinflation in the other countries about 5% per annum. The Fip exchange rate, however, remainebroay unchange Whwoulyou have expectethe Fip exchange rate to show if PPP prevaile Are Fips over or unrvalue accorng to PPP? Accorng to PPP, to offset the effeof the higher inflation in Fap, the Fip shoulhave preciateagainst the other currencies approximately the fferenbetween Finflation anthin the other countries. Accorng to PPP, Fip is overvalue 解析根据购买力平价理论，为了抵消Fap中较高的通货膨胀的影响，Fip应该对其他货币贬值大约是Fap通货膨胀与其他国家之间的差额。根据购买力平价理论，Fip被高估了。

2023-05-24 22:16 1 · 回答

NO.PZ2020012102000011 问题如下 Fis a small country whose currenis the Fip. Three years ago, the exchange rate wconsireto reflecting purchasing power parity (PPP). Sinthen, the country’s inflation hexceeinflation in the other countries about 5% per annum. The Fip exchange rate, however, remainebroay unchange Whwoulyou have expectethe Fip exchange rate to show if PPP prevaile Are Fips over or unrvalue accorng to PPP? Accorng to PPP, to offset the effeof the higher inflation in Fap, the Fip shoulhave preciateagainst the other currencies approximately the fferenbetween Finflation anthin the other countries. Accorng to PPP, Fip is overvalue 解析根据购买力平价理论，为了抵消Fap中较高的通货膨胀的影响，Fip应该对其他货币贬值大约是Fap通货膨胀与其他国家之间的差额。根据购买力平价理论，Fip被高估了。 the Fip exchange rate will preciate unr purchasing power parity e to its higher inflationFips are overvalueaccorng PPP

2023-05-10 22:38 1 · 回答