NO.PZ202208160100000304
问题如下：
Which of the recent economic developments discussed by Birol and Pamuk is most likely to lead to a currency crisis?选项：
A.The banking sector B.The exchange rate system C.The trend in terms of trade and monetary ratios解释：
Solution
A is correct. Pamuk’s description of growth in the banking sector coupled with short-term funding denominated in foreign currency can lead to a currency crisis. Countries with fixed or partially fixed exchange rates are more susceptible. Broad measures of money such as M2 are likely to be rising (not falling) just prior to a crisis. The terms of trade are favorable for Daltonia.
B is incorrect. Countries with fixed or partially fixed exchange rates are more susceptible.
C is incorrect. Broad measures of money such as M2 are likely to be rising (not falling) just prior to a crisis.
中文解析：
A是正确的。帕慕克对银行业增长的描述，加上以外币计价的短期资金，可能导致货币危机。实行固定汇率或部分固定汇率的国家更容易受到影响。广义货币指标，如M2，很可能在危机爆发前上升(而不是下降)。交易条件对道尔顿尼亚很有利。
选项B不正确。实行固定汇率或部分固定汇率的国家更容易受到影响。
C是不正确的。广义货币指标，如M2，很可能在危机爆发前上升(而不是下降)。
我不太理解，哪里提了他是固定或者半固定，
是不是看到deficit就可以想到portfolio
那debt sustainability这个和protfolio的区别点感觉protfolio更偏向资产配置，但是debt更关键赤字
