NO.PZ201512020800000203
问题如下:
3. The least appropriate factor used to describe the type of models mentioned in Statement 3 is:
选项:
A.inflation.
B.price level changes.
C.risk premium adjustments.
解释:
C is correct.
Risk premiums are more closely associated with the portfolio-balance approach. The portfolio balance approach addresses the impact of a country’s net foreign asset/liability position. Under the portfolio balance approach, investors are assumed to hold a diversified portfolio of assets including foreign and domestic bonds. Investors will hold a country’s bonds as long as they are compensated appropriately. Compensation may come in the form of higher interest rates and/or higher risk premium.
考点: Monetary models
解析: Statement 3中关注涉及的方法是 Monetary models,该种方法关注点正是货币发行量、物价水平以及通货膨胀。所以选项A,B的说法都是正确的。
但是 risk premium adjustments并非 Monetary models的关注点,它是portfolio-balance approach的关注点。portfolio-balance approach下,人们持有多种资产的自合。那么投资者便会关注每种资产能否为其提供足够的风险溢价补偿,补偿的形式集中于较高的利率水平,以及较高的风险溢价。所以C选项的说法是错误的。
这题做对了 但是两个理论的知识点在哪里?还有没有一起提到的其他理论?