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bill007 · 2024年07月24日

C选项说的push 和pull factor是什么意思?在哪里有提及?

NO.PZ2018091706000056

问题如下:

The emerging market country is more likely to engage in sterilized intervention if its:

选项:

A.

inflation rate is high

B.

currency is undervalued

C.

currency appreciation is caused by push factors rather than pull factors

解释:

A country would likely choose sterilized intervention if it had a highinflation rate, because unsterilized intervention would add to the monetary base andpossibly increase inflationary pressures. B is incorrect because an undervalued currencyis likely to lessen the probability of intervention, sterilized or unsterilized, in response tocapital inflows. C is incorrect because both push and pull factors can lead to bubbleconditions, excessive exchange rate appreciation, and the unwanted build-up ofexcessive speculative positions.

解析:如果一个国家的通胀率很高,它很可能会选择冲销干预,因为未冲销干预会增加货币供给量,从而增加通胀压力。A正确。

B是不正确的,因为被低估的货币可能会降低干预的效用,无论是冲销的还是未冲销的干预。

C是不正确的,因为push以及 pull因素都可能导致泡沫状况、汇率过度升值,以及不必要的过度投机仓位。

C选项说的push 和pull factor是什么意思?在哪里有提及?

1 个答案

笛子_品职助教 · 2024年07月24日

嗨,从没放弃的小努力你好:


拉动因素(Pull factors):表示某国家经济发展状况良好,可以吸引外资投入。

推动因素(Push factors):较低利率国家的资金,往往在国际资本流动的利好下,被推向境外以获得更高的收益。


新兴市场国家经济发展快,外资流入(pull factors)

新兴市场,利率也高于发达国家,吸引发达国家的资金流入(push factor)


这两个因素都可以推高新兴市场的汇率,过度投机,造成资产泡沫。

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