NO.PZ202001210200000401
问题如下：
Calculate the historical Australian equity risk premium using the “equity-vs-bonds” premium method.
选项：
解释：
The historical equity risk premium is 1.8%, calculated as follows:
Historical equity returns – Historical 10-year government bond yield =
Historical equity risk premium
4.6% – 2.8% = 1.8%
解析：
Historical equity returns=historical 10-year government bond yield + Historical equity risk premium，根据此等式，我们就可以反求出Historical equity risk premium= 4.6% – 2.8% = 1.8%注意到题目要求的是历史数据 ， 所以求解此题时都应该用表格第一列的数据 。
老师好 这里为什么不用加historical inflation rate = 2.3% 变成nominal rate再算? 就是为什么不是 （4.6%+2.3%）- 2.8%?谢谢。
