Xu, Hai Yan; Ward, Bert D.; Nartea, Gilbert V. - In: Review of Applied Economics 3 (2007) 1-2
This paper uses the one-factor models proposed by Chan, Karolyi, Longstaff and Sanders (CKLS, 1992) to study the short-term interest rate in China. Nine stochastic models of the short-term interest rate were estimated with GMM. For the Chinese one-month inter bank loan rate, the research finds...
