货币银行学名词解释 .pdf

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1、货币银行学2012级期末考试题型（彭方平）名词解释20分5对选择题40分20题小计算简答题2个20分案例分析1大题2问20分名词解释重点：1.AdverseselectionVSMoralhazardAdverseSelection:theproblemcreatedbyasymmetricinformationbeforethetransactionoccurs.Infinancialmarketitoccurswhenthepotentialborrowerswhoarethemostlikelytoproducethebadcreditrisksaretheones

2、whomostactivelyseekoutaloanandarethusmostlikelytobeselected.Becauseofadverseselection,loansaremorelikelymadetobadcreditrisks.Solendersmayrathernotmakealoaneventhoughtherearegoodcreditrisks.Moralhazard:theproblemcreatedbyasymmetricinformationbeforethetransactionoccurs.Infinancialmarketit’s

3、thehazardthattheborrowermightengageinimmoralactivitiesthatmaketheloanlesslikelytobepaidback.Becauseofthemoralhazard,lendersmayrathernotmakealoan.2.CapitalmarketVSMoneymarketCapitalmarket:themarketwherelong-termdebtandequityinstrumentsaretraded.Moneymarket:themarketwhereshort-termdebtinst

4、rumentsaretraded.3.EurobondVSForeignbondsEurobond:abonddenominatedinacurrencyotherthanthatofthecountryinwhichitissold.Foreignbonds:soldinaforeigncountryanddenominatedinthatcountry’scurrency.4.EurocurrenciesVSEurodollarsEurocurrencies:存放在货币发行国境外的各国货币Eurodollars:U.S.dollarsdepositedinban

5、ksoutsidetheUnitedStates.5.Primarymarket&Secondarymarket&OTCmarketPrimarymarket:筹集资金的公司或政府机构将新发行的股票和债券等证券销售给最初购买者的金融市场。Secondarymarket:对已发行的证券进行买卖、转让、流通的市场。OTCmarket:场外交易市场。在交易所外由证券买卖双方当面议价成交的市场，它没有固定场所。6.YTM&Currentyield&Yieldonadiscountbasis到期收益率。使债务工具所有未来回报的现值与今天的价值相等的利率。当期收益率：anap

6、proximationoftheyieldtomaturity.Definedastheyearlycouponpaymentdividedbythepriceofthesecurity.贴现基础上的收益率：7.Expectationstheory&Segmentedtheory&Liquiditypremiumtheory期望理论：长期债券利率等于该长期债券期限中各个预期短期债券利率的平均。市场分割理论：长期债券和短期债券是在不同的相互分割的市场上交易的，不同期限的债券之间完全不能替代。流动性溢价理论：长期债券利率等于该长期债券期限中各个预期短期债券利率的平均与流

7、动性溢价之和。8.Sterilizedforeignexchangeintervention&unsterilizedforeignexchangeintervention冲销性外汇干预：aforeignexchangeinterventionwithanoffsettingopenmarketoperationthatleavesthemonetarybaseunchanged.非冲销性外汇干预：aforeignexchangeinterventionthathasaneffectonthemonetaryb