作　　者： ;

机构地区： 中山大学岭南学院

出　　处： 《国际经贸探索》 2009年第8期47-52,共6页

摘　　要： 美国次贷危机不仅影响到整个美国经济,而且波及全球,导致全球金融危机。文章在阐述国债利率期限结构理论和国内外相关研究文献基础上,采用幂函数这一非线性回归模型对次贷危机时期我国国债收益率曲线的形状进行了静态拟合实证分析以及多个时点国债收益率曲线的动态分析。结果表明,我国国债市场已经逐渐走向成熟,能够较好地反映我国实际的经济运行状况以及世界金融市场受到的冲击,基本符合市场预期理论和流动性偏好理论。 The sub-prime mortgage crisis of the United States began to affect the whole American economy and spread to the whole world from July 2007 to the end of 2008. This paper, based on the theory of the interest rate term structure of treasury bonds and the related literature review, utilizes the non-linear regression model to simulate the static shape of the yield curves of treasury bonds during the period of time. With the dynamic empirical analysis, it concludes that the China＇s treasury bond market is becoming mature, which can reflect the actual economic situation and comply with the Market Expectation Theory and Liquidity Preference Theory.

关 键 词： 金融危机 国债收益率曲线 利率期限结构

领　　域： [经济管理]