题目
题目

Homework:Chapter 6 Homework

多项填空题

Part 1The table below shows current and expected future​ one-year interest​ rates, as well as current interest rates on multiyear bonds. Use the table to calculate the liquidity premium for each multiyear bond.[table] Year | ​One-Year Bond Rate | Multiyear Bond Rate 1 | 2.002.00​% | 2.002.00​% 2 | 3.003.00​% | 3.003.00​% 3 | 4.004.00​% | 4.004.00​% 4 | 7.007.00​% | 7.007.00​% 5 | 8.008.00​% | 10.0010.00​% [/table]Part 2The liquidity premiums for each year are given​ as: ​(Enter your responses rounded to two decimal​ places.)[table] l Subscript 11 | equals= | enter your response here ​% l Subscript 21 | equals= | enter your response here ​% l Subscript 31 | equals= | enter your response here ​% l Subscript 41 | equals= | enter your response here ​% l Subscript 51 | equals= | enter your response here ​% [/table]

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思路分析
To approach this problem, I will first restate the setup and then walk through how to compute the liquidity premium for each year using the liquidity premium theory. Restating the data: - The table provides: for each year n, the current n-year (multiyear) bond rate r_n^m and the expected one-year rate in each future year E[r_1,t+k-1] for k = 1,...,n. - The liquidity premium for a n-year bond, l_n, is defined (under the liquidity premium theory) as the difference between the n-year rate and the average of the expected future 1-year rates over the n years: l_n = r_n^m − (1/n) × [......Login to view full explanation

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类似问题

Part 1The table below shows current and expected future​ one-year interest​ rates, as well as current interest rates on multiyear bonds. Use the table to calculate the liquidity premium for each multiyear bond.[table] Year | ​One-Year Bond Rate | Multiyear Bond Rate 1 | 2.002.00​% | 2.002.00​% 2 | 3.003.00​% | 5.005.00​% 3 | 4.004.00​% | 6.006.00​% 4 | 5.005.00​% | 9.009.00​% 5 | 8.008.00​% | 12.0012.00​% [/table]Part 2The liquidity premiums for each year are given​ as: ​(Enter your responses rounded to two decimal​ places.)[table] l Subscript 11 | equals= | enter your response here ​% l Subscript 21 | equals= | enter your response here ​% l Subscript 31 | equals= | enter your response here ​% l Subscript 41 | equals= | enter your response here ​% l Subscript 51 | equals= | enter your response here ​% [/table]

Part 1The table below shows current and expected future​ one-year interest​ rates, as well as current interest rates on multiyear bonds. Use the table to calculate the liquidity premium for each multiyear bond.[table] Year | ​One-Year Bond Rate | Multiyear Bond Rate 1 | 2.002.00​% | 2.002.00​% 2 | 3.003.00​% | 4.004.00​% 3 | 4.004.00​% | 5.005.00​% 4 | 6.006.00​% | 7.007.00​% 5 | 7.007.00​% | 8.008.00​% [/table]Part 2The liquidity premiums for each year are given​ as: ​(Enter your responses rounded to two decimal​ places.)[table] l Subscript 11 | equals= | enter your response here ​% l Subscript 21 | equals= | enter your response here ​% l Subscript 31 | equals= | enter your response here ​% l Subscript 41 | equals= | enter your response here ​% l Subscript 51 | equals= | enter your response here ​% [/table]

Part 1The table below shows current and expected future​ one-year interest​ rates, as well as current interest rates on multiyear bonds. Use the table to calculate the liquidity premium for each multiyear bond.[table] Year | ​One-Year Bond Rate | Multiyear Bond Rate 1 | 2.002.00​% | 2.002.00​% 2 | 3.003.00​% | 5.005.00​% 3 | 5.005.00​% | 7.007.00​% 4 | 6.006.00​% | 10.0010.00​% 5 | 8.008.00​% | 13.0013.00​% [/table]Part 2The liquidity premiums for each year are given​ as: ​(Enter your responses rounded to two decimal​ places.)[table] l Subscript 11 | equals= | enter your response here ​% l Subscript 21 | equals= | enter your response here ​% l Subscript 31 | equals= | enter your response here ​% l Subscript 41 | equals= | enter your response here ​% l Subscript 51 | equals= | enter your response here ​% [/table]

Which premium compensates investors for the difficulty of trading a bond quickly without affecting its price?

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