米什金货币金融学的问题

assumptions x**ier zulu
credit rating aaa bbb
prefers to borrow floating fixed
fixed-rate cost of borrowing 8.000%12.000%
floating-rate cost of borrowing:
libor(value ** unimportant)5.000%5.000%
spread 1.000%2.000%
total floating-rate 6.000%7.000%
comparative advantage in borrowing values
x**ier's absolute advantage:
in fixed rate borrowering 4.000%
in floating-rate borrowing 1.000%
comparative advantage in fixed rate 3.000%
one possibility x**ier zulu
x**ier borrows fixed-8.000%-
zulu borrows floating-7.000%
x**ier pays zulu floating(libor)-5.000%5.000%
zulu pays x**ier fixed 8.500%-8.500%
net interest after swap -4.500% -10.500%
s**ings(own borrowing versus net swap):
if x**ier borrowed floating 6.000%
if x**ier borrows fixed&swaps with zulu 4.500%
1.500%
if zulu borrowes fixed 12.000%
if zulu borrows floating&swaps with x**ier 10.500%
1.500%
the 3.0%comparative advantage enjoyed by x**ier represents the opportunity set for improvement for both parties.th** could be a 1.5%s**ings for each(as in the example shown)or any other combination which d**tributes the 3.0%between the two parties.
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