An Econometric Model on Interest Rate Risks on Basis of CKLS Process and Pertinent Empirical Analyses: Taking Chinese Treasury Bond Market as an Example

摘要

The paper conducts a positive analysis about the econometric modeling on interest rate risks on basis of CKLS process by taking our country's Treasury bond market as an example. MLE can be used to estimate kinds of dynamic models about interest rate,because GMM is inefficient. It also explains the result of the experimental research.