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乔若羽 · 2025年06月05日

还是不懂哪里看出来短期变陡峭,请问老师?

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NO.PZ202206070100000404

问题如下:

Tolliver’s statement is most likely:

选项:

A.correct. B.incorrect with the phase of the business cycle. C.incorrect with regard to monetary policy.

解释:

Solution

A is correct. The yield curve is becoming steeper for short-term rates and flattening for longer-term rates which is consistent with the early expansion phase of the business cycle. Also, consistent with the early expansion phase of the business cycle, monetary policy is becoming less stimulative.

B is incorrect. The yield curve is becoming steeper for short-term rates and flattening for longer-term rates which is consistent with the early expansion phase of the business cycle.

C is incorrect. Consistent with the early expansion phase of the business cycle, monetary policy is becoming less stimulative.

本题考查的是不同经济阶段收益率曲线的特点

A是正确的。短期利率的收益率曲线变得陡峭,长期利率的收益率曲线趋于平缓,这与商业周期的早期扩张阶段相一致。此外,与商业周期早期扩张阶段一致的是,货币政策正变得缺少刺激性。

B是不正确的。短期利率的收益率曲线变得陡峭,长期利率的收益率曲线趋于平缓,这与商业周期的早期扩张阶段相一致。

C是不正确的。与商业周期早期扩张阶段一致,货币政策正变得不那么具有刺激性。

还是不懂哪里看出来短期变陡峭,请问老师?

1 个答案

源_品职助教 · 2025年06月06日

嗨,从没放弃的小努力你好:


通过协会的解释写的不太好哈。其实这题是要判断经济周期的位置,是通过这句话判断的。“the short-term rate is expected to increase from the current 1.23%, and the yield curve is expected to flatten for longer maturities.”这就是早期的特点,严格意义上来说,这也不算是变得陡峭了。而是对长短期分开进行了讨论。


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