隔夜

C

π

Ygap

i(−1)

M2gap

Qgap

Adj.R²

DW

后顾性泰勒规则OLS估计

模型(1)

0.7181^***

0.0442

0.0896^**

0.6218^***

0.6365

1.8578

(3.1946)

(1.3146)

(2.0679)

(6.0444)

模型(2)

0.5117^**

0.0678^*

0.0845^*

0.6868^***

0.0090^**

0.6573

2.0395

(2.1216)

(1.9537)

(2.0047)

(6.5421)

(2.0104)

模型(3)

0.7720^**

0.0263

0.0947^**

0.6202^***

−0.0260^*

0.6509

1.9483

(3.4706)

(0.7623)

(2.2252)

(6.1520)

(−1.7509)

标准泰勒规则GMM估计

模型(4)

0.9496^***

0.0281^*

0.2106^***

0.5568^***

0.6734

2.0445

(6.7403)

(1.8270)

(6.6242)

(11.3765)

模型(5)

0.7149^***

0.0413^*

0.2224^***

0.6495^***

0.0080^***

0.6736

2.2265

(5.5390)

(1.7492)

(7.2464)

(15.9858)

(2.8310)

模型(6)

0.8118^***

0.0352^**

0.1704^***

0.6026^***

−0.0085

0.6761

2.1384

(3.7692)

(2.0319)

(3.0178)

(8.1934)

(−0.7862)

前瞻性泰勒规则GMM估计

模型(7)

0.5789^***

0.0570^***

0.1253^***

0.6715^***

0.6716

2.2282

(4.2161)

(2.8272)

(3.0905)

(15.8223)

模型(8)

0.5293^**

0.0621^**

0.1126^**

0.6830^***

−0.0002

0.6640

2.2387

(2.0596)

(2.0552)

(2.3543)

(9.4439)

(−0.0724)

模型(9)

0.5992^***

0.0572^**

0.1225^***

0.6647^***

0.0053

0.6660

2.2151

(4.2895)

(2.6873)

(2.8610)

(14.8446)

(0.3954)