The risk premium for equitiy is clost to 5.4%(答案）(1+8%)/(1+2.5%)
我觉得答案好像错了，应该是： (1+8%)/(1+2.1%)(1+2.5%)作者: babybearmm 时间: 2012-5-26 15:26
lz这是level 1今年的CFAI的教材么？我在你说的页码上没找到这道题
Anyway，你引的书上给的算法没错，关键是inflation is implied in BOTH rates. 所以risk premium就是不涉及inflation。
直观理解，equity和bond的yield中都体现了inflation，即它俩相同的components。但risk premium体现的是它俩的差异。作者: babybearmm 时间: 2012-5-26 15:26
lz这是level 1今年的CFAI的教材么？我在你说的页码上没找到这道题
Anyway，你引的书上给的算法没错，关键是inflation is implied in BOTH rates. 所以risk premium就是不涉及inflation。
直观理解，equity和bond的yield中都体现了inflation，即它俩相同的components。但risk premium体现的是它俩的差异。作者: cpaking23 时间: 2012-5-29 11:44
I think you need to show the detail context of the question. Return % here is two general. Is it real interest rate or nornimal interest rate. The former one is without inflation premium while the latter one does include.作者: startx 时间: 2012-10-29 07:55
