金融代写|ECON251 Interest Rate Theory
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ECON251 Interest Rate Theory课程简介
Building on the general equilibrium setup solved in the last week, this lecture looks in depth at the relationships between productivity, patience, prices, allocations, and nominal and real interest rates. The solutions are given to three of Fisher’s famous examples: What happens to interest rates when people become more or less patient? What happens when they expect to receive windfall riches sometime in the future? And, what happens when wealth in an economy is redistributed from the poor to the rich?
PREREQUISITES
Building on the general equilibrium setup solved in the last week, this lecture looks in depth at the relationships between productivity, patience, prices, allocations, and nominal and real interest rates. The solutions are given to three of Fisher’s famous examples: What happens to interest rates when people become more or less patient? What happens when they expect to receive windfall riches sometime in the future? And, what happens when wealth in an economy is redistributed from the poor to the rich?
ECON251 Interest Rate Theory HELP（EXAM HELP， ONLINE TUTOR）
Assume the equilibrium equation shown below. What is the return on the zero-beta portfolio and the return on the market assuming the zero-beta model holds?
$$
\bar{R}_i=0.04+0.10 \beta_i
$$
Given the model shown below, what is the risk-free rate if the posttax equilibrium model describes returns?
$$
\bar{R}_i=0.05+0.10 \beta_i+0.24 \delta_i
$$
Given the following situation:
$$
\begin{aligned}
\bar{R}_M=15 & \sigma_M=22 \
R_Z=5 & \sigma_Z=8 \
R_F=3 &
\end{aligned}
$$
draw the minimum variance curve and efficient frontier in expected return standard deviation space. Be sure to give the coordinates of all key points. Draw the security market line.
You have just lectured two tax-free institutions on the necessity of including taxes in the general equilibrium relationship. One believed you and one did not. Demonstrate that if the model holds, the one that did could engage in risk-free arbitrage with the one that did not in a manner such that:
A. Both parties believed they were making an arbitrage profit in the transaction.
B. The one who believed in the posttax model actually made a profit; the other institution incurred a loss.
Textbooks
• An Introduction to Stochastic Modeling, Fourth Edition by Pinsky and Karlin (freely
available through the university library here)
• Essentials of Stochastic Processes, Third Edition by Durrett (freely available through
the university library here)
To reiterate, the textbooks are freely available through the university library. Note that
you must be connected to the university Wi-Fi or VPN to access the ebooks from the library
links. Furthermore, the library links take some time to populate, so do not be alarmed if
the webpage looks bare for a few seconds.
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