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saimeiei · 2018年12月18日

问一道题:NO.PZ201512300100000305 第5小题

* 问题详情,请 查看题干

问题如下图:

    

选项:

A.

B.

C.

解释:


请问答案中2%,题目中提到是过去10年里的10年期国债的几何平均,但不是risk premium吧,所以不应该直接拿2%+7%吧?

1 个答案

maggie_品职助教 · 2018年12月18日


The geometric mean return relative to 10-year government bond returns over 10years is 2 percent per year. 请注意这里的“relative to..”

这句话说的是ERP(RM-RF),加上前面一句股票市场10年的收益率在2007年初可以获得,然后接着这句话“The geometric mean return ”指的是股票市场10年几何平均收益率。
10-year government bond returns over 10years 是无风险收益率。

加油。




saimeiei · 2018年12月19日

那么这里的relative to(减去)是前面的10年收益率的几何平均 减去 10年国债的意思吗

maggie_品职助教 · 2018年12月20日

是的。加油。

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