开发者:上海品职教育科技有限公司 隐私政策详情

应用版本:4.2.11(IOS)｜3.2.5(安卓)APP下载

返回

Spencer · 2022年12月20日

Inflation Expected = Inflation Forecast?

  1. CFA III
  2. Capital Market Expectations

* 问题详情，请 查看题干

NO.PZ202206070100000502

问题如下：

Using the data in Exhibit 1 and the investment team’s approach to predict the Fed’s next move, the new fed funds rate will most likely be:

选项：

A.2.9%. B.2.6%. C.2.1%.

解释：

Solution

C is correct. The Taylor rule is

Roptimal = Rneutral + [0.5 × (GDPgforecast – GDPgtrend)] + [0.5 × (Iforecast – Itarget)]

= 2.5 + [0.5 × (3.0 – 4.5)] + [0.5 × (3.2 – 2.5)]

= 2.5 – 0.75 + 0.35

= 2.10%


C是正确的，依据泰勒公式可得：

Roptimal = Rneutral + [0.5 × (GDPgforecast – GDPgtrend)] + [0.5 × (Iforecast – Itarget)]

= 2.5 + [0.5 × (3.0 – 4.5)] + [0.5 × (3.2 – 2.5)]

= 2.5 – 0.75 + 0.35

= 2.10%


老师请问，根据现在的考纲Taylor Rule需要加上Expected Inflation, 那在这个题干里，Inflation Expected = Inflation Forecast，是吗?

添加评论
1 个答案
已采纳答案

源_品职助教 · 2022年12月20日

嗨，爱思考的PZer你好：


是的，可以这么理解哦。

因为这道题是协会PRECTICE EXAMPLE 的题目，这部分题目有的协会没有按照考纲及时修改话术和答案。

比如这题，最后答案其实还是应该再加上一个预期通胀率才行。

----------------------------------------------
虽然现在很辛苦，但努力过的感觉真的很好，加油！

  • 1

    回答

  • 0

    关注

  • 376

    浏览
相关问题

NO.PZ202206070100000502 问题如下 Using the ta in Exhibit 1 anthe investment team’s approato prethe Fes next move, the new fefun rate will most likely be: A.2.9%. B.2.6%. C.2.1%. SolutionC is correct. The Taylor rule isRoptim= Rneutr+ [0.5 × (Ggforecast – Ggtren] + [0.5 × (Iforecast – Itarget)] = 2.5 + [0.5 × (3.0 – 4.5)] + [0.5 × (3.2 – 2.5)] = 2.5 – 0.75 + 0.35 = 2.10%C是正确的，依据泰勒公式可得Roptim= Rneutr+ [0.5 × (Ggforecast – Ggtren] + [0.5 × (Iforecast – Itarget)] = 2.5 + [0.5 × (3.0 – 4.5)] + [0.5 × (3.2 – 2.5)] = 2.5 – 0.75 + 0.35 = 2.10% 对于加不加expecteinflation这项先说下我的理解题目条件给的是FFR neutrrate, 问的是new FFR neutrrate。第一种情况假设题目给的FFR neutrrate是rerate, 那么问的也就是rerate,因为表述方式是一样的，那么结果不需要加expecteinflation第二种情况假设题目给的FFR neutrrate是nominrate, 那么已经包含了expecteinflation, 最后问我们的也是nominrate, 也不需要再重复加expecteinflation.综上，我认为无论是哪种情况，都不需要另外添加expecteinflation, 除非题目特别明确的给出rerate然后问nominrate所以，我认为这题答案并没有错误，老师认为呢？

2024-01-31 16:38 2 · 回答

NO.PZ202206070100000502问题如下 Using the ta in Exhibit 1 anthe investment team’s approato prethe Fes next move, the new fefun rate will most likely be: A.2.9%.B.2.6%.C.2.1%. SolutionC is correct. The Taylor rule isRoptim= Rneutr+ [0.5 × (Ggforecast – Ggtren] + [0.5 × (Iforecast – Itarget)] = 2.5 + [0.5 × (3.0 – 4.5)] + [0.5 × (3.2 – 2.5)] = 2.5 – 0.75 + 0.35 = 2.10%C是正确的，依据泰勒公式可得Roptim= Rneutr+ [0.5 × (Ggforecast – Ggtren] + [0.5 × (Iforecast – Itarget)] = 2.5 + [0.5 × (3.0 – 4.5)] + [0.5 × (3.2 – 2.5)] = 2.5 – 0.75 + 0.35 = 2.10% 按照目前的公式计算，最终结果应该是2.1%+3.2%=5.3%吗？如果题目中没有给出neutrrate是re还是nominal，是按照默认为rerate吗？

2024-01-04 16:33 1 · 回答

NO.PZ202206070100000502问题如下 Using the ta in Exhibit 1 anthe investment team’s approato prethe Fes next move, the new fefun rate will most likely be: A.2.9%.B.2.6%.C.2.1%. SolutionC is correct. The Taylor rule isRoptim= Rneutr+ [0.5 × (Ggforecast – Ggtren] + [0.5 × (Iforecast – Itarget)] = 2.5 + [0.5 × (3.0 – 4.5)] + [0.5 × (3.2 – 2.5)] = 2.5 – 0.75 + 0.35 = 2.10%C是正确的，依据泰勒公式可得Roptim= Rneutr+ [0.5 × (Ggforecast – Ggtren] + [0.5 × (Iforecast – Itarget)] = 2.5 + [0.5 × (3.0 – 4.5)] + [0.5 × (3.2 – 2.5)] = 2.5 – 0.75 + 0.35 = 2.10% 明知道答案错了，为什么不改下答案内容。这样容易误导

2023-08-03 09:07 1 · 回答

NO.PZ202206070100000502 问题如下 Using the ta in Exhibit 3 anthe investment team’s approato prethe Fes next move, the new fefun rate will most likely be: A.2.9%. B.2.6%. C.2.1%. SolutionC is correct. The Taylor rule isRoptim= Rneutr+ [0.5 × (Ggforecast – Ggtren] + [0.5 × (Iforecast – Itarget)] = 2.5 + [0.5 × (3.0 – 4.5)] + [0.5 × (3.2 – 2.5)] = 2.5 – 0.75 + 0.35 = 2.10%C是正确的，依据泰勒公式可得Roptim= Rneutr+ [0.5 × (Ggforecast – Ggtren] + [0.5 × (Iforecast – Itarget)] = 2.5 + [0.5 × (3.0 – 4.5)] + [0.5 × (3.2 – 2.5)] = 2.5 – 0.75 + 0.35 = 2.10% 想问一下，current rate和neutrrate的区别是，current=neutral+inflation吗？考试的时候需要加inflation，如果没有单独给出，是不是用current rate带入taylor公式呢？

2022-11-11 12:52 1 · 回答