江同學(xué)
2023-08-07 11:17請問這種題要怎么考慮？謝謝
所屬：CFA Level III > Capital Market Expectations 視頻位置 相關(guān)試題
來源： 視頻位置 相關(guān)試題
1個(gè)回答
Johnny助教
2023-08-13 01:07
該回答已被題主采納
同學(xué)你好，這里考察的就是三元悖論以及不同匯率制度和資本流通情況下對(duì)于yield curve和匯率的影響，該知識(shí)點(diǎn)在R3教材中的最后一個(gè)模塊：Interest Rate/Exchange Rate Linkages
寫以下部分即可：
Scenario 1:By restricting capital flows with a fixed exchange rate, Eastland will be able to run an independent monetary policy and interest rates can be different in the two countries.\
Scenario 2: interest rates must generally be higher (lower) in the country whose currency is expected to depreciate (appreciate). This leads to a situation where the currency overshoots in one direction or the other.
Scenario 3：A shift in investors' belief in the credibility of the fixed exchange rate will cause risk and yield differentials to emerge. This situation will cause the (default-free) yield curve to differ between Eastland and Northland
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