金程問(wèn)答
Board member Arnold Brown asks O’Reilly about the use of high-frequency (daily) data in developing capital market expectations. O’Reilly answers, “Sometimes it is necessary to use daily data to obtain a data series of the desired length. Ironically, high-frequency data improves the precision of sample variances, covariances, and correlations but not the precision of the sample mean. High-frequency data are more sensitive to asynchronism across variables.”怎么理解關(guān)于high-frequency (daily) data 這段話？
fiscal policy 如何影響 yield curve的shape?
a diffusion index 是什么，為什么屬于a leading indicator-based approach？
trade flows和current account imbalance不是一點(diǎn)嗎？都是貿(mào)易造成的
這個(gè)題目的具體解釋，不同國(guó)家之間的CURRENCY的關(guān)系。
Eastland and Northland (with currencies pegged to each other) will share the same yield curve if two conditions are met. First, unrestricted capital mobility must occur between them to ensure that risk-adjusted expected returns will be equalized. Second, the exchange rate between the currencies must be credibly fixed forever. Thus, as long as investors believe that there is no risk in the future of a possible currency appreciation or depreciation, Eastland and Northland will share the same yield curve. A shift in investors’ belief in the credibility of the fixed exchange rate will likely cause risk and yield differentials to emerge. This situation will cause the (default-free) yield curve to differ between Eastland and Northland. 這段話說(shuō)的是什么意思，總結(jié)下來(lái)是三元悖論哪個(gè)不滿足？
不能理解，repo%是股數(shù)減少比例，所以是負(fù)號(hào)，所以減掉負(fù)數(shù)表示加上回購(gòu)比例作為Income yield一部分是這樣嗎
current data指的什么？作為過(guò)去數(shù)據(jù)的Input不合理不還是look ahead bias嗎？
所以這里寫的stock typically raise，指的是return，不是價(jià)格？
但是之前講過(guò)，如果一國(guó)貨幣貶值，根據(jù)購(gòu)買力平價(jià)，利率應(yīng)該是升高的，這里利率降低，為啥不能理解為升值呢
如果說(shuō)GKmodel是根據(jù)戈登永續(xù)增長(zhǎng)模型變化的話，那么為什么公式里沒(méi)有D/r-g呢？?jī)H僅有D/P就能說(shuō)明是在戈登模型演變的嘛
對(duì)于衰退期，不管發(fā)達(dá)不發(fā)達(dá)應(yīng)該都是會(huì)有很大變化啊
我怎么區(qū)別residual risk 是方差還是標(biāo)準(zhǔn)差呢
GK model中關(guān)于股權(quán)回購(gòu)部分的理解（符號(hào)方向理解問(wèn)題）
百題 case3 的第一題關(guān)于Denmark的那個(gè)statement 為什么weak currency的bond yield會(huì)變低呀
程寶問(wèn)答
