国际金融(托马斯·普格尔)复习资料整理.doc

课后作业 8. you are given the following information about a country’s international transactions during a year: Merchandise exports 商品出口 $330 Merchandise imports 商品进口 198 Service exports 劳务出口 196 Service imports 劳务进口 204 Imcome flows,net流量净额 3 Unilateral transfers,net 单方面转移金额 -8 Increase in the country’s holding of foreign assets,net 202 (excluding official reserve assets)增加在该国的净外国资产 Increase in foreign holding of the country’s assets,net 102 (excluding official reserve assets)增加在该国的本国资产 Statistical discrepancy, net净统计误差 4 Caculate the values of the country’s goods and services balance,current account balance经常账户余额,and official settlements balance官方储备资产余额. Merchandise trade balance: $330 - 198 = $132 Goods and services balance: $330 - 198 + 196 - 204 = $124 Current account balance: $330 - 198 + 196 - 204 + 3 - 8 = $119 Official settlements balance: $330 - 198 + 196 - 204 + 3 - 8 + 102 - 202 + 4 = $23 B.What is the value of the change in official reserve assets(net)官方储备资产?Is the country increasing or decreasing its net holding of official reserve assets? Change in official reserve assets (net) = - official settlements balance = -$23. The country is increasing its net holdings of official reserve assets. 课后作业 8.You have access to the following three spot exchange rates即期汇率: $ 0.01 / yen $ 0.20 / krone 25 yen / krone how would engage in arbitrage（套利） to profit from these three rates? What is the profit for each dollar used initially? The arbitrage will be: Use dollars to buy kroner at $0.20/krone, use these kroner to buy yen at 25 yen/krone, and use the yen to buy dollars at $0.01/yen. For each dollar that you sell initially, you can obtain 5 kroner, these 5 kroner can obtain 125 yen, and the 125 yen can obtain $1.25. The arbitrage