RL2022-10-08 10:20:20
如果是说短端利率主要收到Inflation的影响,长端利率主要受货币政策影响,会怎么出题呢?
回答(1)
Essie2022-10-08 13:59:31
你好,短期利率主要受货币政策的影响,长期利率主要受通胀和经济增长的影响,只有这一种说法。你提问中说的那种说法是错误的,原版书上原来是你提问的这种说法,但是后来出勘误了。
勘误内容如下:
The fifth paragraph in Section 9 (page 375 of print) should read, “Research shows that although inflation, GDP, and monetary policy explain most of the variance of bond yields, short- and intermediate-term bond yields are driven mostly by monetary policy, whereas other factors such as inflation are key drivers of long-term yields. Monetary policy explains about two-thirds of short- and intermediate-term bond yield variation, with the remaining third roughly equally attributable to economic growth and factors including inflation. In contrast, inflation explains nearly two-thirds of long-term yield variation, and the remaining third is largely attributable to monetary policy.”
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