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According to Meese's exchange rate model in 1986, in this paper, we modified Meese's (1986) model and suppose the Interest Rate Parity is untenable, the risk premium factor and real exchange rate parameter are considered, and the Purchasing Power parity doesn't follow random walk, we derive our modified equilibrium model. Base on the State Space Model, we try to estimate bubbles and risk premium which are unobservable variables by Kalman Filter to test which one is or both are the main factors that to cause the real assets price biased from the market fundamental price.
本文是以Meese(1986)所决定的汇率模型为基础,但Messe一文并未讨论到风险溢酬的问题,故本文为了克服此一缺憾,而假设未抛捕的利率平价说(uncovered interest parity,UIP)不成立,以加入风险溢酬因子,且更进一步假设偏离购买力平价理论(purchasing power parity,PPP)不服从随机漫步,若如此则顺利将实质汇率变数纳入於模型中,重新建立均衡汇率模型,为了验证本文所创立的模型,实证方法以状态空间模型为基础,运用卡门滤波器递回法来估计不可观察的变数,以观察台湾的外汇市场上是因泡沫现象还是风险溢酬造成资产价格偏离市场基要价值或是两者皆是造成实际资产价格偏离市场机要价格的因素。
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In Locke the metaleptic reality and its noetic analysis is transFORMed into the acceptance of certain "common opinions" which still bear an intelligible relation to the experience from which they derive.
在洛克那里,转喻性的实在和它的理智分析被转形成对某些&普遍意见&的接受,这些意见仍然与导出它们的经验有着明显的联系。
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In Locke the metaleptic reality and its noetic analysis is transformed into the acceptance of certain "common opinions" which still bear an intelligible relation to the experience from which they derive.
在洛克那里,理念和它的抽象分析变成了对公共意见的接纳,当然这种公共意见仍然承担着某种关联,使那些公共意见从中产生出来的现实经验被人们所理解。
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The ancient versions rightly derive the title from ,"to inherit"; Baethgen ("Die Psalmen", 3rd ed., 1904, p. xxxv) thinks Nehiloth was the first word of some ancient song; most critics translate "with wind instruments" wrong assuming that Nehiloth means flutes , cf. Is.
五,古代的版本中得到正确的标题从&继承&; Baethgen (&模具Psalmen &,第3版。, 1904年,第XXXV )号决议认为Nehiloth的第一个字是一些古老的歌曲,大多数批评者把&风文书&错误假设Nehiloth手段笛子
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You decide to leave that hierarchy in place because you believe that, although the Circle and Ellipse are related, you don't want to have nonabstract leaf classes in your hierarchy, and several implementation problems occur when you try to derive the Circle class from the Ellipse class.
因为你相信,虽然 Circle 和 Ellipse 是有关系的,但是在你的类继层次内,你不想要非抽象的叶子类,所以你决定使用这个层次。当你尝试从 Ellipse 类派生 Circle 类的时候,会发生一些实现上的问题。
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The job of protecting our nonconstitutional rights belongs to those who most directly "derive their just powers from the consent of the governed," as the Declara-tion has it: elected officials.
谁来保护我们宪法中未明言的权利?根据《独立宣言》所说,应该是最直接&从被治理者手中取得权力者&,也就是民选官员。
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The job of protecting our nonconstitutional rights belongs to those who most directly "derive their just powers from the consent of the governed," as the Declaration has it: elected officials.
谁来保护我们宪法中未明言的权利?根据《独立宣言》所说,应该是最直接&从被治理者手中取得权力者&,也就是民选官员。
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In Chapter 3,we derive the second-order-derivative-free iterations with two parameters from the third-order iterations with one parameter to approximate the roots of nondifferentiable equations in Banach space.
第三章,从带一个参数的三阶迭代族出发,构造了一族免二阶导数计值带两个参数的迭代族,用其去逼近Banach空间中非线性算子方程的解。
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Tickling fetishism is a paraphilia in which participants derive sexual stimulation from tickling, or being tickled by, another person.
呵痒迷恋是这样一个概念:性刺激来自呵痒或被别人呵痒。
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And,from the original background,we derive this equationthrough perturbative method for a general reaction-diffusion system.
对小系统尺寸下的方程的稳定区域向混沌区域的过渡过程,用最大Lyapunov指数刻划的方法进行的讨论。
- 推荐网络例句
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According to the clear water experiment, aeration performance of the new equipment is good with high total oxygen transfer coefficient and oxygen utilization ratio.
曝气设备的动力效率在叶轮转速为120rpm~150rpm时取得最大值,此时氧利用率和充氧能力也具有较高值。
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The environmental stability of that world - including its crushing pressures and icy darkness - means that some of its most famous inhabitants have survived for eons as evolutionary throwbacks, their bodies undergoing little change.
稳定的海底环境─包括能把人压扁的压力和冰冷的黑暗─意谓海底某些最知名的栖居生物已以演化返祖的样态活了万世,形体几无变化。
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When I was in school, the rabbi explained everythingin the Bible two different ways.
当我上学的时候,老师解释《圣经》用两种不同的方法。