This paper concentrates on the relationship between the short and the long interest rate by regression and cointegration.It was found that they have same direction to each other,and the spread can explain some variant...This paper concentrates on the relationship between the short and the long interest rate by regression and cointegration.It was found that they have same direction to each other,and the spread can explain some variant of the long interest rate.The granger cointegration relationship was not found by Johansen Test,but a threshold cointegration relationship was found between them by Enders-Siklos test.In the end,the paper gives some suggestions for the authority.展开更多
文摘This paper concentrates on the relationship between the short and the long interest rate by regression and cointegration.It was found that they have same direction to each other,and the spread can explain some variant of the long interest rate.The granger cointegration relationship was not found by Johansen Test,but a threshold cointegration relationship was found between them by Enders-Siklos test.In the end,the paper gives some suggestions for the authority.
文摘我在本刊前文讨论过美国式的集体诉讼被大量地滥用。美国政府针对此种情况于1995年推出了私人证券改革法案（Private Securities Litigation Reform Acl），也就是针对证交法27条的修订。与以往最大的不同是该法案提出了“首席原告”（Lead Plaintiff)的概念。以往集体法律顾问的任命都是相当随意的，基本上是以先到先得的态度（chosen on a first-to-filebasis）来任命，因此这些随意任命的律师能否有效的评估股民的损失与撰写有力的诉状都是问题。
