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土豆妮

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发表于 2010-4-20 14:54 | 只看该作者

What are the implications for the shape of the yield curve according to the liquidity theory? The yield curve:

A)
 must be upward sloping.
B)
 is always flat.
C)
 may have any shape.


The liquidity theory holds that investors demand a premium to compensate them to interest rate exposure and the premium increases with maturity. Even after adding the premium to a steep downward sloping yield curve the result will still be downward sloping.

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土豆妮

UID
137525 
帖子
5724 
主题
885 
注册时间
2009-7-1 
最后登录
2011-3-29 
12#
发表于 2010-4-20 14:54 | 只看该作者

The liquidity premium theory of the term structure of interest rates projects that the normal shape of the yield curve will be:

A)
 variable.
B)
 downward sloping.
C)
 upward sloping.


The liquidity theory holds that investors demand a premium to compensate them to interest rate exposure and the premium increases with maturity. By itself, the liquidity theory implies an upward sloping yield curve.

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