[词条] What is the split of variation？ [推广有奖]

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发表于 2018-11-21 18:34:57 |AI写论文

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I am quite confused about the expression： “the split of variation” ，which I saw from F.Fama's paper. The whole sentence is quoted here:

...estimates the split of variation in the forward-spot spread between the two terms of (i)the forecasted change in the 1-year spot rate from t to t+x-1；and（ii）the premium of the (x-1)-year expected return on an x-year bond over the time t yield on an (x-1)-year bond.

Can anyone help me please?!