变动系数

Then five methods to estimate interest rates of government bonds are comparative analysized. The implied term structure of Chinese bond's interest rates is estimated by the Nelson-Siegel model. Samples consist of spot rates with maturities of 3-month, 6-month, 1-year, 2-year, 3-year, 4-year, 5-year, 7-year and 10-year. Through principal components analysis, at least two factors are needed to capture the dynamics of the interest rates.

然后通过比较分析5种建立国债利率曲线的方法，采用Nelson-Siegel模型估计了中国的国债即期利率曲线，并取用估计出来的3个月、6个月、1年、2年、3年、4年、5年、7年、10年期的即期利率数据做样本，进行相关系数分析和主成分分析，发现至少需要两个因素才能较好的描述中国国债利率曲线的变动。

The split between the two groups can hardly be papered over.

这两个团体间的分歧难以掩饰。

This approach not only encourages a greater number of responses, but minimizes the likelihood of stale groupthink.

这种做法不仅鼓励了更多的反应，而且减少跟风的可能性。