投资学利率史与风险溢价student.ppt

投资学 第5章;本章主要内容 利率水平的确定 - Interest Rate Determinants 期望收益与波动性 – Expected Return and its Variance 风险价值 – Value at Risk;5.1 利率水平的确定;5.1.1 实际利率(real interest rate)与名义利率(nominal interest rate);5.1.2 实际利率均衡 - Equilibrium Real Rate of Interest; 5.1.3 名义利率均衡 - Equilibrium Nominal Rate of Interest;5.1.4 税收与实际利率;;Example 5.2 Annualized Rates of Return;Equation 5.7 实际年利率 - EAR;;Equation 5.8 年百分比率 - APR;Table 5.1 APR vs. EAR;;Table 5.2 Statistics for T-Bill Rates, Inflation Rates and Real Rates, 1926-2009;Figure 5.3 Interest Rates and Inflation, 1926-2009;Figure 5.4 Nominal and Real Wealth Indexes f