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台风来了 · 2024年03月22日

关于利率和通胀的解释

NO.PZ2023041102000012

问题如下:

Bergman recommends that AIM should increase holdings in the country that offers the highest real interest rate according to the international Fisher effect. He presents the data in Exhibit 2 for conducting the analysis.

If Bergman's recommendation is followed, AIM will most likely increase its holdings in Country:

选项:

A.Z. B.Y. C.X.

解释:

Country Z has the highest real interest rate according to the International Fisher effect. The Fisher effect breaks down the nominal interest rate (i) in a given country into two parts: (1) the real interest rate in that particular country (r) and (2) the expected inflation rate (πɛ) in that country.

i = r + πɛ, where r = Current nominal interest rate and πɛ = Expected inflation rate.

老师,您好!


题中所述:i = r + πɛ, where r = Current nominal interest rate and πɛ = Expected inflation rate. 这一句和上面的描述有悖。i应该是名义利率,r应该是真实利率吧。是吗?麻烦老师解释一下,谢谢!

1 个答案

笛子_品职助教 · 2024年03月23日

嗨,爱思考的PZer你好:


Hello,亲爱的同学~

这里解析里的i = r + πɛ是指:

名义利率 = 实际利率 + 通胀预期。

i是名义利率。

r是实际利率。


由i = r + πɛ可以得出:r = i - πɛ

也就是表格里的:


解析里的:

r = Current nominal interest rate 需要改为i = Current nominal interest rate

把r改为i。

同学理解正确。

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