Analysts speculate that the Fed could extend the scale or duration of long-term open market operations, lower the discount rate at which it lends directly to banks, or even announce more radical steps. 分析师们猜测,美联储可能会扩大长期公开市场操作的规模或期限,降低美联储向银行直接发放的贷款的贴现率,甚或宣布更为激进的步骤。
And the market microstructure is determined by three parameters-the inter-temporal discount rate, the per unit transactions costs of the pure intermediary and the most efficient dealer. 市场的微观结构决定于三个参数&跨期替代率、纯粹中介单位交易量的交易成本与最有效率的套利中间人单位交易量的成本。
Using this technique, it takes the market discount rate into account but the market mortgage rate. 这是基于贴现利率与市场抵押利率之间存在的连动关系。
The market rate of interest can not directly substitute the social discount rate for its defect on preference revealing, interest forming, the reward of risk, etc. 而市场利率由于在偏好揭示、利率形成、风险报酬等方面的缺陷,又不能直接替代社会贴现率。
Afterwards various kinds of interest rates were also liberalized: short-term security market, discount market have both been developing rapidly in recent years, and the interest rate of the government bonds is also determined basically by the market. 随后,一系列的利率逐步放开:短期证券市场、贴现市场在近年来发展迅速,国债利率也基本实现了市场化。
Therefore, on the basis of the positive signal, the capital market gives the company a higher share price. So the IPO discount rate is low. 因此,资本市场会基于该正面信号给予公司较高的股价,从而其IPO折价率较低。
The results show that if investors express over-optimism about market discount rate ( share price), the basic convertible bond price will be over-estimated. Conversely, the price will be under-estimated. 结论表明,最基础的可转换债券中,投资者对市场贴现率、股票价格过度乐观将提高可转换债券的价格,反之,将会降低其价格。
Deposit reserve rate, public market business and discount rate are the three basic monetary policy tools. Deposit reserve rate is the strongest monetary policy tool among the three tools of the central bank. 存款准备金率、公开市场业务和贴现率是中央银行三大基本货币政策工具,其中存款准备金率被视为比较凶猛的货币政策工具。
After the comparsion of Market Pricing Method, CAPM Model and Option Pricing Model, a discount rate model which is suited to the current situation of China, is maded. 在比较了市场定价法、CAPM模型和期权定价模型等三种确定折现率的方法后,提出了适合我国目前实际情况的折现率确定模型。
Classic option pricing theory is built on the basis of efficient market hypothesis, that market has no arbitrage, logarithm stock price after a discount of risk-free rate follows a martingale process; this suggests the stock price increments in most cases should be mutually independent. 经典期权定价理论是建立在有效市场假设基础之上,即市场是无套利的、对数股票价格经过无风险利率折现服从一个鞅过程;这暗示在大多数场合股票价格增量应该是相互独立的。