The Central Tendency: A Second Factor in Bond Yields
收藏NBER1997-12-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w6325
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资源简介：
We assume that the instantaneous riskless rate reverts towards a central tendency which in turn, is changing stochastically over time. As a result, current short-term rates are not" sufficient to predict future short-term rates movements, as would be the case if the central" tendency was constant.
提供机构：
美国国家经济研究局
创建时间：
1997-12-01
