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kevinzhu · 2020年01月06日

问一道题：NO.PZ2018062003000200

  1. CFA I
  2. Economics Analysis

问题如下：

When the real exchange rate( assuming domestic currency is price currency and foreign currency is base currency) increased, which of the followings is most likely to be associated with an decrease?

选项：

A.

Nominal exchange rate.

B.

Domestic price level.

C.

Foreign price level.

解释：

B is correct.

The formula of real exchange rate is :

Real exchange rate (d/f) =Sd/f×(Pf/Pd){}_{(d/f)\text{ }}=S_d/f\times(P_f/P_d)

An decrease in the domestic price level increases the real exchange rate because it implies an decrease in the purchasing power of the domestic currency compared to foreign currency.

考点： exchange rate

解析： Real exchange rate (d/f) =Sd/f×(Pf/Pd){}_{(d/f)\text{ }}=S_d/f\times(P_f/P_d)

根据上述公式，较高的Nominal exchange rate，较高的Foreign price level，以及较低的Domestic price level会产生较高的Real exchange rate

 实际汇率=名义汇率*外国的物价指数/本国的物价指数, 这里“foreign currency is price currency and domestic currency is base currency”

assuming domestic currency is price currency and foreign currency is base currency的意思就变成了“本国的物价指数/外国的物价指数”？

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1 个答案

源_品职助教 · 2020年01月07日

嗨，爱思考的PZer你好：


 

assuming domestic currency is price currency and foreign currency is base currency 的意思是用D/F这种形式标价。
也就是本币在标价货币的位置，而外币在基础货币的位置。


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