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InternationalFinance国际金融Notestotheanswers:1、Allthetermscanbefoundinthetext.2、Thediscussionscanbeattainedbyreadingtheoriginaltext.Chapter1Answers:II.TTFFFTTIII.1.reservecurrency2.appreciate3.waspeggedto4.deficit5.fixedexchangerates6.floatingexchangerates7.depreciate8.marketforcesIV.1.ConfidenceintheabilityoftheU.S.toredeemdollarsforgoldbegantofallaspotentialclaimsagainstthedollarincreasedandU.S.goldreservesfell.2.Underthefixedexchangeratesystem,thevalueofthedollarwastiedtogoldthroughitsconvertibilityintogoldattheU.S.Treasury,andothernations’currenciesweretiedtothedollarbythemaintenanceofafixedrateofexchange.3.IMFhasadjusteditsroleintheexchangeratesysteminviewofthedevelopmentofthesituation.4.AfterthecollapseoftheBrettonWoodsSystem,thetaskof“rigorousmonitoring”theexchangeratepolicyofmembercountriesfellontheshoulderofIMF.5.Undernormalconditionsthestabilizingoperationsweresufficienttocontainshort-runfluctuationsinacurrency’spricewithintherequiredboundsof1%ofparvalueandtherebymaintainasystemoffixedexchangerates.Chapter2Answers:I.liquid,turnover,dueto,hedge,crosstrading,electronicbroking,outrightforwards,Over-the-counter,futuresandoptions,derivatives,remainder.II..1.Thefundamentalchangesoccurredinpost-warworldeconomy.Theinternationalflowofcommodities,capitalandlaborisintensifying,thusleadingtointegrationofinternationalmarkets..1Oftenreferredtoas“financialinstitutionswithasoul”,creditunionsaremember-ownedcooperativesthatoffercheckingaccounts,savingsaccounts,creditcards,andconsumerloans..2Ifyouthinkthepriceofgoldwillrise,youcanbuyamostsimplekindoffinancialderivativewhichiscalled“futures”.Ifbythattimethepricereallygoesup,thenyoumakeagain.Butifyoumakeawrongguessandthepricedeclines,thenyousufferaloss..3Financialderivativesarefinancialcommoditiesderivingfromsuchspotmarketproductsasinterestrateorbond,foreignexchangeorforeignexchangerateandstockorstockindexes.Therearemainlythreetypesofderivatives:futures,optionsandswaps,ea
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