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Spencer · 2023年04月15日

less stimulative是指loose吗?

* 问题详情,请 查看题干

NO.PZ202206070100000404

问题如下:

Tolliver’s statement is most likely:

选项:

A.correct. B.incorrect with the phase of the business cycle. C.incorrect with regard to monetary policy.

解释:

Solution

A is correct. The yield curve is becoming steeper for short-term rates and flattening for longer-term rates which is consistent with the early expansion phase of the business cycle. Also, consistent with the early expansion phase of the business cycle, monetary policy is becoming less stimulative.

B is incorrect. The yield curve is becoming steeper for short-term rates and flattening for longer-term rates which is consistent with the early expansion phase of the business cycle.

C is incorrect. Consistent with the early expansion phase of the business cycle, monetary policy is becoming less stimulative.

本题考查的是不同经济阶段收益率曲线的特点

A是正确的。短期利率的收益率曲线变得陡峭,长期利率的收益率曲线趋于平缓,这与商业周期的早期扩张阶段相一致。此外,与商业周期早期扩张阶段一致的是,货币政策正变得缺少刺激性。

B是不正确的。短期利率的收益率曲线变得陡峭,长期利率的收益率曲线趋于平缓,这与商业周期的早期扩张阶段相一致。

C是不正确的。与商业周期早期扩张阶段一致,货币政策正变得不那么具有刺激性。

老师请问,less stimulative是指monetary policy变得loose吗?这题的解题思路是否可以从taylor rule入手?起始rate是1.23%,taylor rule计算出来的目标利率是2%,利率需要提升,monetary policy需要变得restrictive.

2 个答案
已采纳答案

源_品职助教 · 2023年04月17日

嗨,爱思考的PZer你好:


stimulative表示刺激的意思,等同于宽松。

monetary policy is becoming less stimulative是指,货币政策的刺激性正在减弱,也就是政策不再那么宽松了。毕竟经济自己已经开始扩张了,不需要政府那么积极地刺激了。

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源_品职助教 · 2023年04月17日

嗨,爱思考的PZer你好:


这题最好不要从TAYLOR入手,因为一般情况下,咱们二级考试,是一个小题对应主题中一部分段落内容,

而另一个小题则对应主题中其他部分段落内容。

如果本题用TAYLOR是针对解403那题的,如果再通过TAYLOR解404,

那么题目中“Tolliver states the economy is likely in the early expansion phase of the business cycle ”这句话就没有意义了。

仅从解析来看,题目是想考察各个经济周期的特点。

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