国际金融第一次作业

国际金融第一次作业

国际金融作业

理学院11271030 陈隆信息与计算科学

P3143,5

3.

Explain how each of the following transactions generates two entries—a credit and a

debit—in the American balance of payments accounts, and describe how each entry

would be classified:

a.An American buys a share of German stock, paying by writing a check on an account with a Swiss bank.

答：

一位美国人用瑞士银行的支票购买德国的股票，这借记到了美国的金融项目，

而当美国人通过他的瑞士银行账户用支票支付时，在美国的金融项目上贷记此项。

b. An American buys a share of German stock, paying the seller with a check on an American bank.

答：一位美国人用美国银行的支票购买德国的股票时，应借记美国的金融项目，德国的商人存支票时进行贷记。

c. The Korean government carries out an official foreign exchange intervention in which

it uses dollars held in an American bank to buy Korean currency from its citizens.

答：韩国政府施行采用由美国银行持有的美元来进行官方外汇干预，从而从他的市民手中购买韩国货币。需要借记美国的金融项目。

d. A tourist from Detroit buys a meal at an expensive restaurant in Lyons, France,

paying with a traveler's check.

答: 如果该公司需要卖出资产来支付款项，那么该公司持有的法国资产的减少将登记美国金融项目。该支票为法国的支票账户的话，该公司支付的款项将借记美国的经常项目。

e. A California winemaker contributes a case of cabernet sauvignon for a London wine tasting. 答：没有经过市场交易，不必在经常项目或金融项目借记或贷记。

f. A U.S.-owned factory in Britain uses local earnings to buy additional machinery.

答：这交易不发生在美国本土，不记入美国的国际收支账户内。

5.

The nation of Pecunia had a current account deficit of $1 billion and a non reserve

financial account surplus of $500 million in 2008.

a. What was the balance of payments of Pecunia in that year? What happened to the

country's net foreign assets?

答：该国的国际收支余额为5亿美元。该国的净国外资产就会减少10亿美元。

b. Assume that foreign central banks neither buy nor sell Pecunian assets. How did

the Pecunian central bank's foreign reserves change in 2008? How would this

official intervention show up in the balance of

payments accounts of Pecunia?

答：该国的中央银行没有动用私人资金流入来为该国的经常项目赤字融资。其中央银行的储备减少5亿美元，记入到国际收支账户中。

c.How would your answer to (b) change if you learned that foreign central banks had purchased $600 million of Pecunian assets in 2008? How would these official purchases enter foreign balance of payments accounts?

答：如果流入的外国官方资本是6亿美元，那么该国就会有1亿美元的国际收支盈余。但现在流入了11亿美元，所以该国中央银行就需要用多出来的1亿美元来购买外国资产来增加储备。外国中央银行买入该国资产在其国际收支账户上是流出，所以需要借记账户。

d. Draw up the Pecunian balance of payments accounts for 2008 under the assumption that the event described in (c) occurred in that year.

答：该国持有的外国官方储备资产加上非中央银

行交易一共增加了6亿美元，同时外国持有的该国官方储备资产增加了1000亿美元，即为借记金融项目。