B 如果改成real yield spread对吗
问题如下图：
选项：
A. 
B. 
C. 
解释：
源_品职助教 · 2019年11月13日
嗨，爱思考的PZer你好：
如果把标价写作DM/EM的模式，那么依据B选项的意思，公式右边第一个括号内数值应该增大，所以可以判断出EM在升值，所以B不对。 改成REAL，也是这个原理判断，所以不对。
-------------------------------加油吧，让我们一起遇见更好的自己！
爱游泳的鱼 · 2019年11月15日
依据uncovered IRP 在EM\DM下，EM的nominal rate与DM的nominal rate差距变大，也即nominal yield spread变大，则EM贬值，请问老师，这么理解哪里出错了吗。
NO.PZ2018091706000061问题如下 Assumeththe country hwhis consirea low-yielsafe haven currenwhilethe EM country ha high-yielcurrenwhose value is more exposetofluctuations in the globeconomic growth rate. All else equal, the exchangerate for the EM currenwill most likely preciate if the: A.long-run equilibriumvalue of the high-yielcurrenis reviseupwarB.nominyielspreaetween the EM an countries increases over time C.expecteinflationfferentibetween the EM an countries is reviseupwarAllelse equal, increase in the expecteinflation fferentishoulletopreciation of the EM currency.解析reexchange rate (A/= equilibriumreexchange rate + (realinterest rate B - reinterest rate A)- (risk premium B - risk premium A)根据上述公式。所以A、B错误。在其它条件相同的情况下，预期通胀率的扩大会加两国的风险溢价之差，从而应会导致新兴市场货币贬值。所以C正确。请问B为什么错？
NO.PZ2018091706000061问题如下 Assumeththe country hwhis consirea low-yielsafe haven currenwhilethe EM country ha high-yielcurrenwhose value is more exposetofluctuations in the globeconomic growth rate. All else equal, the exchangerate for the EM currenwill most likely preciate if the: A.long-run equilibriumvalue of the high-yielcurrenis reviseupwarB.nominyielspreaetween the EM an countries increases over time C.expecteinflationfferentibetween the EM an countries is reviseupwarAllelse equal, increase in the expecteinflation fferentishoulletopreciation of the EM currency.解析reexchange rate (A/= equilibriumreexchange rate + (realinterest rate B - reinterest rate A)- (risk premium B - risk premium A)根据上述公式。所以A、B错误。在其它条件相同的情况下，预期通胀率的扩大会加两国的风险溢价之差，从而应会导致新兴市场货币贬值。所以C正确。如图所示，老师帮忙看看是不是这样理解
NO.PZ2018091706000061问题如下 Assumeththe country hwhis consirea low-yielsafe haven currenwhilethe EM country ha high-yielcurrenwhose value is more exposetofluctuations in the globeconomic growth rate. All else equal, the exchangerate for the EM currenwill most likely preciate if the: A.long-run equilibriumvalue of the high-yielcurrenis reviseupwarB.nominyielspreaetween the EM an countries increases over time C.expecteinflationfferentibetween the EM an countries is reviseupwarAllelse equal, increase in the expecteinflation fferentishoulletopreciation of the EM currency.解析reexchange rate (A/= equilibriumreexchange rate + (realinterest rate B - reinterest rate A)- (risk premium B - risk premium A)根据上述公式。所以A、B错误。在其它条件相同的情况下，预期通胀率的扩大会加两国的风险溢价之差，从而应会导致新兴市场货币贬值。所以C正确。b为什么不对 名义利率差距增大说明通胀率差距增大因为根据fisher的公式实际利率是相同的。那么b和c不是一个意思吗？
NO.PZ2018091706000061 问题如下 Assumeththe country hwhis consirea low-yielsafe haven currenwhilethe EM country ha high-yielcurrenwhose value is more exposetofluctuations in the globeconomic growth rate. All else equal, the exchangerate for the EM currenwill most likely preciate if the: A.long-run equilibriumvalue of the high-yielcurrenis reviseupwar B.nominyielspreaetween the EM an countries increases over time C.expecteinflationfferentibetween the EM an countries is reviseupwar Allelse equal, increase in the expecteinflation fferentishoulletopreciation of the EM currency.解析reexchange rate (A/= equilibriumreexchange rate + (realinterest rate B - reinterest rate A)- (risk premium B - risk premium A)根据上述公式。所以A、B错误。在其它条件相同的情况下，预期通胀率的扩大会加两国的风险溢价之差，从而应会导致新兴市场货币贬值。所以C正确。 如题
NO.PZ2018091706000061 问题如下 Assumeththe country hwhis consirea low-yielsafe haven currenwhilethe EM country ha high-yielcurrenwhose value is more exposetofluctuations in the globeconomic growth rate. All else equal, the exchangerate for the EM currenwill most likely preciate if the: A.long-run equilibriumvalue of the high-yielcurrenis reviseupwar B.nominyielspreaetween the EM an countries increases over time C.expecteinflationfferentibetween the EM an countries is reviseupwar Allelse equal, increase in the expecteinflation fferentishoulletopreciation of the EM currency.解析reexchange rate (A/= equilibriumreexchange rate + (realinterest rate B - reinterest rate A)- (risk premium B - risk premium A)根据上述公式。所以A、B错误。在其它条件相同的情况下，预期通胀率的扩大会加两国的风险溢价之差，从而应会导致新兴市场货币贬值。所以C正确。 请老师指教