老师,这段话是什么意思,不理解
cash is relatively attractive (unattractive) in a rising (declining) rate environment. Deflation may make cash particularly attractive if a zero-lower-bound is binding on the nominal interest rate. Otherwise deflation is simply a component of the required short-term real rate.
2个疑问:
1、它最后那句“Otherwise deflation is simply a component of the required short-term real rate.”是啥意思?
2、它说利率上升时持有cash挺好的,利率下降时持有cash就不好。 但通货紧缩时持有cash又是好的。通货紧缩不也是利率下降吗?有点乱啊 老师可以给我详细解释下吗