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1、InternationalFinance国际金融Notestotheanswers:1、Allthetermscanbefoundinthetext.2、Thediscussionscanbeattainedbyreadingtheoriginaltext.Chapter1Answers:II.TTFFFTTIII.1.reservecurrency2.appreciate3.waspeggedto4.deficit5.fixedexchangerates6.floatingexchangerates7.depreciate8.marketforcesIV
2、.1.ConfidenceintheabilityoftheU.S.toredeemdollarsforgoldbegantofallaspotentialclaimsagainstthedollarincreasedandU.S.goldreservesfell.2.Underthefixedexchangeratesystem,thevalueofthedollarwastiedtogoldthroughitsconvertibilityintogoldattheU.S.Treasury,andothernations’currencieswereti
3、edtothedollarbythemaintenanceofafixedrateofexchange.3.IMFhasadjusteditsroleintheexchangeratesysteminviewofthedevelopmentofthesituation.4.AfterthecollapseoftheBrettonWoodsSystem,thetaskof“rigorousmonitoring”theexchangeratepolicyofmembercountriesfellontheshoulderofIMF.5.Undernormalc
4、onditionsthestabilizingoperationsweresufficienttocontainshort-runfluctuationsinacurrency’spricewithintherequiredboundsof1%ofparvalueandtherebymaintainasystemoffixedexchangerates.Chapter2Answers:I.liquid,turnover,dueto,hedge,crosstrading,electronicbroking,outrightforwards,Over-the-
5、counter,futuresandoptions,derivatives,remainder.II..1.Thefundamentalchangesoccurredinpost-warworldeconomy.Theinternationalflowofcommodities,capitalandlaborisintensifying,thusleadingtointegrationofinternationalmarkets.1.Oftenreferredtoas“financialinstitutionswithasoul”,creditunions
6、aremember-ownedcooperativesthatoffercheckingaccounts,savingsaccounts,creditcards,andconsumerloans.2.Ifyouthinkthepriceofgoldwillrise,youcanbuyamostsimplekindoffinancialderivativewhichiscalled“futures”.Ifbythattimethepricereallygoesup,thenyoumakeagain.Butifyoumakeawrongguessandthep
7、ricedeclines,thenyousufferaloss.3.Financialderivativesarefinancialcommoditiesderivingfromsuchspotmarketproductsasinterestrateorbond,foreignexchangeorforeignexchangerateandstockorstockindexes.Therearemainlythreetypesofderivatives:futures,optionsandswaps,eachofwhichinvolvesamixoffin
8、ancialcontracts.4.Companiesandinv
