金程問(wèn)答
“equity-vs-bonds” premium method是什么？官網(wǎng)課后題提到的
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(huà)？
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(huà)說(shuō)的是什么意思，總結(jié)下來(lái)是三元悖論哪個(gè)不滿(mǎn)足？
怎么理解這里的current rate？是說(shuō)當(dāng)下的政策利率還是市場(chǎng)上的名義/實(shí)際利率啊？
老師好，藍(lán)色框里的說(shuō)法是上課時(shí)老師提到的，我們不是經(jīng)常用方差描述組合風(fēng)險(xiǎn)嗎？為什么說(shuō)描述組合風(fēng)險(xiǎn)要用相關(guān)系數(shù)描述？
老師這里的Q3想請(qǐng)問(wèn)：為什么是減current 10-year government bond yield? 理論上是不是應(yīng)該減expected 10-year government bond yield?
老師這個(gè)2.5不是real rate嗎？不得先加一個(gè)inflation嗎
老師您好，能解釋一下第九題嗎？
短期通脹高了，會(huì)影響房租嗎？好像原來(lái)講房租會(huì)被stick 因?yàn)楹灪贤裁吹模?
老師，這道題可以用簡(jiǎn)短的兩句話(huà)回答嗎？原版書(shū)寫(xiě)的好亂啊
第四題，低頻數(shù)據(jù)不是會(huì)造成平滑嗎？平滑不是相關(guān)性會(huì)降低嗎？相反高頻數(shù)據(jù)不是會(huì)相關(guān)性更高嘛？
這個(gè)gkmodel分為三部分 股票收益是名義收益率 這里為什么要強(qiáng)調(diào)是名義……還有啥
在經(jīng)濟(jì)周期中討論的通貨膨脹水平，都指的是預(yù)期內(nèi)的通脹水平對(duì)吧？后面文里講的通脹超出預(yù)期或者低于預(yù)期，是對(duì)通脹單獨(dú)來(lái)講的？ 還有是不是由于通脹指標(biāo)都是滯后性指標(biāo)，無(wú)法當(dāng)時(shí)就知道通脹的結(jié)果，所以是"預(yù)期通脹"？當(dāng)通脹數(shù)據(jù)出來(lái)后，然后用真實(shí)通脹與當(dāng)時(shí)的預(yù)期通脹比較？
CME原版書(shū)課后習(xí)題R4第22題，Irene老師講解的時(shí)候分析第二句話(huà)說(shuō)，因?yàn)閏urrent account赤字，所以競(jìng)爭(zhēng)力高，風(fēng)險(xiǎn)低。（見(jiàn)圖片2） 請(qǐng)教老師，這一塊不太理解，赤字的話(huà)表示出口大于進(jìn)口，證明本國(guó)競(jìng)爭(zhēng)力大于外國(guó)，那應(yīng)該是風(fēng)險(xiǎn)低吧？ 這道題目第二句話(huà)之所以不是增加風(fēng)險(xiǎn)，我理解是因?yàn)樗某嘧殖潭鹊陀贕DP所以不會(huì)增加風(fēng)險(xiǎn)吧？
百題case2 第二題。這里回購(gòu)收益率1%。讓公司股數(shù)增加。不是應(yīng)該?嗎。為何是?
程寶問(wèn)答
