113分析解析金融市场跟金融机构_第五章节.pptVIP

Term Structure Facts to Be Explained Fact 1. Interest rates for different maturities move together Fact 2. Yield curves tend to have steep upward slope when short rates are low and downward slope when short rates are high a href=/ganzhou/赣州癫痫病医院/a a href=/jian/吉安癫痫病医院/a Fact 3. Yield curve is typically upward sloping Yield Theories of the term structure of interest rates There are three common theories of the term structure of interest rates: the pure expectations theory (PET)完全预期理论 the market segmentation theory市场分割理论 the liquidity premium theory流动性溢酬理论 Pure Expectations Theory Key Assum