    1 43

14     .  ,    -
    ,    ,  
         .
.: Eugene F. Fama, Term Premiums in Bond Returns, Journal of Financial Economics, 13, no. 4
(December 1984), pp. 529546; J. Huston McCulloch, The Monotonicity of the Term Premium:

A Closer Look, Journal of Finacial Economics, 18, no. 1 (March 1987), pp. 185-192; An Estimate of
the Liquidity Premium, Journal of Political Economy, 83, no. 1 (February 1975), pp. 95119; 
    : Matthew Richardson, Paul Richardson, Tom Smith, The
Monotonicity of the Term Premium: Another Look, Journal of Financial Economics, 31, no. 1 (February
1992), pp. 97-105.

15         . -
  1,0806  0,0775,   0,0775  1,0806.

 

 
   -           	                 

 

1.        
:

Homer Sedney, Martin L. Leibowitz, Inside the Yield Book: New Tools for Bond Market

Strategy (Englewood Cliffs, NJ: Prentice Hall, 1972).

Marcia Stigum, The Money Market (Homewood, IL: Business One Irwin, 3rd ed., 1990).

Frank J. Fabozzi, ed.. The Handbook ofFixed-Income Securities (Homewood, IL: Business
One Irwin, 3rd ed., 1991).

2.        :

Deborah W. Gregory, Miles Livingston, Development of the Market for U.S. Treasury
STRIPS, Financial Analysts Journal, 48, no. 2 (March/April 1992), pp. 68-74.

3.          -
  :

John Y. Wood and Norma L. Wood, Financial Markets (San Diego, CA: Harcourt Brace
Jovanovich, 1985), Chapter 19.

Frederic S. Mishkin, The Economics of Money, Banking, and Financial Markets (Glenview,
IL: Scott, Foresman, 1989), Chapter 7.

Peter A. Abken, Innovations in Modeling the Term Structure of Interest Rates, Federal
Reserve Bank of Atlanta, Economic Review, 75, no. 4 (July/August 1990), pp. 227.

Frank J. Fabozzi and Franco Modigliani, Capital Markets: Institutions and Instruments
(Englewood Cliffs, NJ: Prentice Hall, 1992), Chapter 12.