Long-Term Behavior of Yield Curves
收藏NBER1986-01-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w1789
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资源简介：
The flattening of yield curves at long-term maturities is proven to be approximately proportional to the reciprocal of the time to maturity under general conditions. This is a consequence of the persistence of earlier forward rates in the averaging process which produces yields from forward rates.
提供机构：
美国国家经济研究局
创建时间：
1986-01-01
