计算change target short-term interest rate, 为什么不考虑预期通货膨胀率的变化?
这是真题给的答案:
Roptimal previous = Rneutral + [ 0.5 x (1.4% – 3.5%) + 0.5 x (0.8% – 2.0%)] =Rneutral –1.65%
Roptimal updated = Rneutral + [ 0.5 x (1.3% – 3.5%) + 0.5 x (0.7% – 2.0%)] =Rneutral –1.75%
The change in the target short-term interest rate is:
Change in Roptimal = Roptimal updated – Roptimal previous = –1.75% – (–1.65%) = –0.10%
新的考纲里面,加入了预期通货膨胀率,算的是名义interest rate,那算变化的时候,为什么不加上通膨的变化呢?除了0.5*(预期通膨-target 通膨)外。