时间溢价是期权价格中超过内在价值的部分。时间溢价也称为“期权的时间价值”,但它和“货币的时间价值”是不同的概念,时间溢价是“波动的价值”,时间越长,出现波动的可能性越大,时间溢价越大。而货币的时间价值是时间“延续的价值”,时间延续得越长,货币的时间价值越大。
如果这些溢价随时间保持不变的话,央行仍然可以通过调整(市场参与者对未来预期的)短期利率来左右长期利率。
If these premiums are constant over time, the central bank can still determine long-term interest rate via changing (market agents' expectations regarding future) short-term interest rates.
有时,餐厅会通过下述方法解决:向你长时间坐在那里必然会消费的产品——比如,酒、开胃菜及甜点——收取较高的溢价。
Sometimes restaurants cope with this by charging high premiums for products that go hand in hand with long sittings - wine, starters and desserts.
Berkshire的优先股在高盛将支付10%,并且在未来任何时间内可以以10%的溢价回购股票。
Berkshire's preferred stock in Goldman will pay 10 percent and can be bought back any time at 10 percent premium.
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