frr0717
2018-02-09 14:32麻煩老師解釋下畫(huà)橫線處。我覺(jué)得反了呀。。。。謝謝！
所屬：CFA Level II > Fixed Income 視頻位置 相關(guān)試題
來(lái)源： 視頻位置 相關(guān)試題
1個(gè)回答
Vito Chen助教
2018-02-14 16:41
該回答已被題主采納
同學(xué)，你好。從原版書(shū)中截取了一段話，可以看一下這段話。The ability to calibrate models to market data is a desirable feature of any model, and this fact points to one of the main drawbacks of the Vasicek and CIR models: They have only a finite number of free parameters, and so it is not possible to specify these parameter values in such a way that model prices coincide with observed market prices. This problem is overcome in arbitrage-free models by allowing the parameters to vary deterministically with time. As a result, the market yield curve can be modeled with the accuracy needed for such applications as valuing derivatives and bonds with embedded options.
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