循环效应;
Empirical corporate default rates to have a cyclical effect, the present data extraction from the cycle of GDP components and the use of KMV model to estimate default rates of the measurement analysis.
为了实证企业违约率具有顺周期效应,本文从GDP数据提取周期成分和运用KMV模型估计违约率进行了计量分析。
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