id	sid	tid	token	lemma	pos
dem-1049	1	1	01_blangiewicz_milobedzki.pdf	01_blangiewicz_milobedzki.pdf	NOUN
dem-1049	1	2	©	©	PROPN
dem-1049	1	3	2012	2012	NUM
dem-1049	1	4	nicolaus	nicolaus	PROPN
dem-1049	1	5	copernicus	copernicus	PROPN
dem-1049	1	6	university	university	PROPN
dem-1049	1	7	press	press	NOUN
dem-1049	1	8	.	.	PUNCT
dem-1049	2	1	all	all	DET
dem-1049	2	2	rights	right	NOUN
dem-1049	2	3	reserved	reserve	VERB
dem-1049	2	4	.	.	PUNCT
dem-1049	3	1	http://www.dem.umk.pl/dem	http://www.dem.umk.pl/dem	PROPN
dem-1049	3	2	dynamic	dynamic	ADJ
dem-1049	3	3	econometric	econometric	ADJ
dem-1049	3	4	models	model	NOUN
dem-1049	3	5	vol	vol	NOUN
dem-1049	3	6	.	.	PROPN
dem-1049	3	7	12	12	NUM
dem-1049	3	8	(	(	PUNCT
dem-1049	3	9	2012	2012	NUM
dem-1049	3	10	)	)	PUNCT
dem-1049	3	11	5−17	5−17	NOUN
dem-1049	3	12	submitted	submit	VERB
dem-1049	3	13	may	may	AUX
dem-1049	3	14	6	6	NUM
dem-1049	3	15	,	,	PUNCT
dem-1049	3	16	2012	2012	NUM
dem-1049	3	17	issn	issn	PROPN
dem-1049	3	18	accepted	accept	VERB
dem-1049	3	19	october	october	PROPN
dem-1049	3	20	8	8	NUM
dem-1049	3	21	,	,	PUNCT
dem-1049	3	22	2012	2012	NUM
dem-1049	3	23	1234	1234	NUM
dem-1049	3	24	-	-	SYM
dem-1049	3	25	3862	3862	NUM
dem-1049	3	26	maria	maria	PROPN
dem-1049	3	27	blangiewicz	blangiewicz	PROPN
dem-1049	3	28	,	,	PUNCT
dem-1049	3	29	paweł	paweł	VERB
dem-1049	3	30	miłobędzki	miłobędzki	PROPN
dem-1049	3	31	*	*	PUNCT
dem-1049	3	32	the	the	DET
dem-1049	3	33	expectations	expectation	NOUN
dem-1049	3	34	hypothesis	hypothesis	NOUN
dem-1049	3	35	of	of	ADP
dem-1049	3	36	the	the	DET
dem-1049	3	37	term	term	NOUN
dem-1049	3	38	structure	structure	NOUN
dem-1049	3	39	of	of	ADP
dem-1049	3	40	libor	libor	PROPN
dem-1049	3	41	us	us	PROPN
dem-1049	3	42	dollar	dollar	PROPN
dem-1049	3	43	interest	interest	PROPN
dem-1049	3	44	rates†	rates†	NOUN
dem-1049	3	45	a	a	DET
dem-1049	3	46	b	b	PROPN
dem-1049	3	47	s	s	ADP
dem-1049	3	48	t	t	PROPN
dem-1049	3	49	r	r	NOUN
dem-1049	3	50	a	a	DET
dem-1049	3	51	c	c	NOUN
dem-1049	3	52	t.	t.	NOUN
dem-1049	3	53	using	use	VERB
dem-1049	3	54	the	the	DET
dem-1049	3	55	monthly	monthly	ADJ
dem-1049	3	56	sampled	sample	VERB
dem-1049	3	57	data	datum	NOUN
dem-1049	3	58	on	on	ADP
dem-1049	3	59	libor	libor	PROPN
dem-1049	3	60	us	us	PROPN
dem-1049	3	61	dollar	dollar	NOUN
dem-1049	3	62	interest	interest	NOUN
dem-1049	3	63	rates	rate	NOUN
dem-1049	3	64	and	and	CCONJ
dem-1049	3	65	maturities	maturity	NOUN
dem-1049	3	66	ranging	range	VERB
dem-1049	3	67	from	from	ADP
dem-1049	3	68	1	1	NUM
dem-1049	3	69	to	to	PART
dem-1049	3	70	12	12	NUM
dem-1049	3	71	months	month	NOUN
dem-1049	3	72	from	from	ADP
dem-1049	3	73	1995	1995	NUM
dem-1049	3	74	to	to	ADP
dem-1049	3	75	2009	2009	NUM
dem-1049	3	76	we	we	PRON
dem-1049	3	77	provide	provide	VERB
dem-1049	3	78	with	with	ADP
dem-1049	3	79	a	a	DET
dem-1049	3	80	number	number	NOUN
dem-1049	3	81	of	of	ADP
dem-1049	3	82	tests	test	NOUN
dem-1049	3	83	of	of	ADP
dem-1049	3	84	the	the	DET
dem-1049	3	85	expectations	expectation	NOUN
dem-1049	3	86	hypothesis	hypothesis	NOUN
dem-1049	3	87	based	base	VERB
dem-1049	3	88	on	on	ADP
dem-1049	3	89	a	a	DET
dem-1049	3	90	3	3	NUM
dem-1049	3	91	-	-	PUNCT
dem-1049	3	92	variable	variable	ADJ
dem-1049	3	93	var	var	NOUN
dem-1049	3	94	allowing	allow	VERB
dem-1049	3	95	for	for	ADP
dem-1049	3	96	a	a	DET
dem-1049	3	97	time	time	NOUN
dem-1049	3	98	-	-	PUNCT
dem-1049	3	99	varying	vary	VERB
dem-1049	3	100	term	term	NOUN
dem-1049	3	101	premium	premium	NOUN
dem-1049	3	102	.	.	PUNCT
dem-1049	4	1	we	we	PRON
dem-1049	4	2	find	find	VERB
dem-1049	4	3	some	some	DET
dem-1049	4	4	evidence	evidence	NOUN
dem-1049	4	5	against	against	ADP
dem-1049	4	6	the	the	DET
dem-1049	4	7	expectations	expectation	NOUN
dem-1049	4	8	hypothesis	hypothesis	NOUN
dem-1049	4	9	.	.	PUNCT
dem-1049	5	1	the	the	DET
dem-1049	5	2	term	term	NOUN
dem-1049	5	3	premia	premia	PROPN
dem-1049	5	4	appear	appear	VERB
dem-1049	5	5	to	to	PART
dem-1049	5	6	vary	vary	VERB
dem-1049	5	7	in	in	ADP
dem-1049	5	8	time	time	NOUN
dem-1049	5	9	and	and	CCONJ
dem-1049	5	10	the	the	DET
dem-1049	5	11	yield	yield	NOUN
dem-1049	5	12	spread	spread	NOUN
dem-1049	5	13	has	have	VERB
dem-1049	5	14	a	a	DET
dem-1049	5	15	good	good	ADJ
dem-1049	5	16	predictive	predictive	ADJ
dem-1049	5	17	power	power	NOUN
dem-1049	5	18	,	,	PUNCT
dem-1049	5	19	however	however	ADV
dem-1049	5	20	the	the	DET
dem-1049	5	21	long	long	ADJ
dem-1049	5	22	rates	rate	NOUN
dem-1049	5	23	under	under	ADP
dem-1049	5	24	-	-	PUNCT
dem-1049	5	25	react	react	NOUN
dem-1049	5	26	to	to	ADP
dem-1049	5	27	current	current	ADJ
dem-1049	5	28	information	information	NOUN
dem-1049	5	29	about	about	ADP
dem-1049	5	30	future	future	ADJ
dem-1049	5	31	short	short	ADJ
dem-1049	5	32	rates	rate	NOUN
dem-1049	5	33	.	.	PUNCT
dem-1049	6	1	unexpected	unexpected	ADJ
dem-1049	6	2	changes	change	NOUN
dem-1049	6	3	in	in	ADP
dem-1049	6	4	holding	hold	VERB
dem-1049	6	5	period	period	NOUN
dem-1049	6	6	returns	return	NOUN
dem-1049	6	7	to	to	ADP
dem-1049	6	8	large	large	ADJ
dem-1049	6	9	extent	extent	NOUN
dem-1049	6	10	depend	depend	VERB
dem-1049	6	11	upon	upon	SCONJ
dem-1049	6	12	revisions	revision	NOUN
dem-1049	6	13	to	to	ADP
dem-1049	6	14	forecasts	forecast	NOUN
dem-1049	6	15	about	about	ADP
dem-1049	6	16	future	future	ADJ
dem-1049	6	17	short	short	ADJ
dem-1049	6	18	rates	rate	NOUN
dem-1049	6	19	and	and	CCONJ
dem-1049	6	20	to	to	ADP
dem-1049	6	21	small	small	ADJ
dem-1049	6	22	extent	extent	NOUN
dem-1049	6	23	upon	upon	SCONJ
dem-1049	6	24	revisions	revision	NOUN
dem-1049	6	25	to	to	ADP
dem-1049	6	26	future	future	ADJ
dem-1049	6	27	term	term	NOUN
dem-1049	6	28	premia	premia	NOUN
dem-1049	6	29	.	.	PUNCT
dem-1049	7	1	k	k	PROPN
dem-1049	7	2	e	e	PROPN
dem-1049	7	3	y	y	PROPN
dem-1049	7	4	w	w	NOUN
dem-1049	7	5	o	o	NOUN
dem-1049	7	6	r	r	NOUN
dem-1049	7	7	d	d	PROPN
dem-1049	7	8	s	s	NOUN
dem-1049	7	9	:	:	PUNCT
dem-1049	7	10	term	term	NOUN
dem-1049	7	11	structure	structure	NOUN
dem-1049	7	12	of	of	ADP
dem-1049	7	13	interest	interest	NOUN
dem-1049	7	14	rates	rate	NOUN
dem-1049	7	15	,	,	PUNCT
dem-1049	7	16	expectations	expectation	NOUN
dem-1049	7	17	hypothesis	hypothesis	NOUN
dem-1049	7	18	,	,	PUNCT
dem-1049	7	19	term	term	NOUN
dem-1049	7	20	premium	premium	NOUN
dem-1049	7	21	,	,	PUNCT
dem-1049	7	22	libor	libor	PROPN
dem-1049	7	23	,	,	PUNCT
dem-1049	7	24	var	var	PROPN
dem-1049	7	25	.	.	PUNCT
dem-1049	8	1	j	j	PROPN
dem-1049	8	2	e	e	PROPN
dem-1049	8	3	l	l	PROPN
dem-1049	8	4	classification	classification	NOUN
dem-1049	8	5	:	:	PUNCT
dem-1049	8	6	e43	e43	NOUN
dem-1049	8	7	.	.	PUNCT
dem-1049	9	1	introduction	introduction	NOUN
dem-1049	9	2	the	the	DET
dem-1049	9	3	expectations	expectation	NOUN
dem-1049	9	4	hypothesis	hypothesis	NOUN
dem-1049	9	5	(	(	PUNCT
dem-1049	9	6	eh	eh	INTJ
dem-1049	9	7	)	)	PUNCT
dem-1049	9	8	of	of	ADP
dem-1049	9	9	the	the	DET
dem-1049	9	10	term	term	NOUN
dem-1049	9	11	structure	structure	NOUN
dem-1049	9	12	of	of	ADP
dem-1049	9	13	interest	interest	NOUN
dem-1049	9	14	rates	rate	NOUN
dem-1049	9	15	credited	credit	VERB
dem-1049	9	16	to	to	ADP
dem-1049	9	17	fisher	fisher	PROPN
dem-1049	9	18	(	(	PUNCT
dem-1049	9	19	1886	1886	NUM
dem-1049	9	20	,	,	PUNCT
dem-1049	9	21	1930	1930	NUM
dem-1049	9	22	)	)	PUNCT
dem-1049	9	23	and	and	CCONJ
dem-1049	9	24	lutz	lutz	PROPN
dem-1049	9	25	(	(	PUNCT
dem-1049	9	26	1940	1940	NUM
dem-1049	9	27	)	)	PUNCT
dem-1049	9	28	states	state	VERB
dem-1049	9	29	that	that	SCONJ
dem-1049	9	30	the	the	DET
dem-1049	9	31	expected	expect	VERB
dem-1049	9	32	oneperiod	oneperiod	NOUN
dem-1049	9	33	holding	holding	NOUN
dem-1049	9	34	period	period	NOUN
dem-1049	9	35	return	return	NOUN
dem-1049	9	36	on	on	ADP
dem-1049	9	37	a	a	DET
dem-1049	9	38	bond	bond	NOUN
dem-1049	9	39	that	that	PRON
dem-1049	9	40	has	have	VERB
dem-1049	9	41	n	n	NUM
dem-1049	9	42	periods	period	NOUN
dem-1049	9	43	to	to	ADP
dem-1049	9	44	maturity	maturity	NOUN
dem-1049	9	45	(	(	PUNCT
dem-1049	9	46	long	long	ADJ
dem-1049	9	47	bond	bond	NOUN
dem-1049	9	48	)	)	PUNCT
dem-1049	9	49	equals	equal	VERB
dem-1049	9	50	to	to	ADP
dem-1049	9	51	the	the	DET
dem-1049	9	52	return	return	NOUN
dem-1049	9	53	on	on	ADP
dem-1049	9	54	one	one	NUM
dem-1049	9	55	-	-	PUNCT
dem-1049	9	56	period	period	NOUN
dem-1049	9	57	(	(	PUNCT
dem-1049	9	58	short	short	ADJ
dem-1049	9	59	)	)	PUNCT
dem-1049	9	60	bond	bond	NOUN
dem-1049	9	61	increased	increase	VERB
dem-1049	9	62	by	by	ADP
dem-1049	9	63	the	the	DET
dem-1049	9	64	term	term	NOUN
dem-1049	9	65	premium	premium	NOUN
dem-1049	9	66	.	.	PUNCT
dem-1049	10	1	if	if	SCONJ
dem-1049	10	2	valid	valid	ADJ
dem-1049	10	3	it	it	PRON
dem-1049	10	4	has	have	VERB
dem-1049	10	5	two	two	NUM
dem-1049	10	6	important	important	ADJ
dem-1049	10	7	implications	implication	NOUN
dem-1049	10	8	:	:	PUNCT
dem-1049	10	9	the	the	DET
dem-1049	10	10	yield	yield	NOUN
dem-1049	10	11	on	on	ADP
dem-1049	10	12	a	a	DET
dem-1049	10	13	long	long	ADJ
dem-1049	10	14	bond	bond	NOUN
dem-1049	10	15	(	(	PUNCT
dem-1049	10	16	long	long	ADJ
dem-1049	10	17	rate	rate	NOUN
dem-1049	10	18	)	)	PUNCT
dem-1049	10	19	equals	equal	VERB
dem-1049	10	20	to	to	ADP
dem-1049	10	21	the	the	DET
dem-1049	10	22	average	average	NOUN
dem-1049	10	23	of	of	ADP
dem-1049	10	24	expected	expect	VERB
dem-1049	10	25	yields	yield	NOUN
dem-1049	10	26	on	on	ADP
dem-1049	10	27	the	the	DET
dem-1049	10	28	short	short	ADJ
dem-1049	10	29	bond	bond	NOUN
dem-1049	10	30	(	(	PUNCT
dem-1049	10	31	short	short	ADJ
dem-1049	10	32	rates	rate	NOUN
dem-1049	10	33	)	)	PUNCT
dem-1049	10	34	over	over	ADP
dem-1049	10	35	the	the	DET
dem-1049	10	36	life	life	NOUN
dem-1049	10	37	of	of	ADP
dem-1049	10	38	the	the	DET
dem-1049	10	39	long	long	ADJ
dem-1049	10	40	bond	bond	NOUN
dem-1049	10	41	plus	plus	CCONJ
dem-1049	10	42	the	the	DET
dem-1049	10	43	rolling	rolling	NOUN
dem-1049	10	44	-	-	PUNCT
dem-1049	10	45	over	over	ADP
dem-1049	10	46	term	term	NOUN
dem-1049	10	47	premium	premium	NOUN
dem-1049	10	48	,	,	PUNCT
dem-1049	10	49	and	and	CCONJ
dem-1049	10	50	the	the	DET
dem-1049	10	51	*	*	PROPN
dem-1049	10	52	correspondence	correspondence	NOUN
dem-1049	10	53	to	to	PART
dem-1049	10	54	:	:	PUNCT
dem-1049	10	55	paweł	paweł	VERB
dem-1049	10	56	miłobędzki	miłobędzki	PROPN
dem-1049	10	57	,	,	PUNCT
dem-1049	10	58	department	department	NOUN
dem-1049	10	59	of	of	ADP
dem-1049	10	60	econometrics	econometric	NOUN
dem-1049	10	61	,	,	PUNCT
dem-1049	10	62	faculty	faculty	NOUN
dem-1049	10	63	of	of	ADP
dem-1049	10	64	management	management	NOUN
dem-1049	10	65	,	,	PUNCT
dem-1049	10	66	university	university	NOUN
dem-1049	10	67	of	of	ADP
dem-1049	10	68	gdańsk	gdańsk	PROPN
dem-1049	10	69	,	,	PUNCT
dem-1049	10	70	ul	ul	INTJ
dem-1049	10	71	.	.	PUNCT
dem-1049	10	72	armii	armii	PROPN
dem-1049	10	73	krajowej	krajowej	VERB
dem-1049	10	74	101	101	NUM
dem-1049	10	75	,	,	PUNCT
dem-1049	10	76	81	81	NUM
dem-1049	10	77	-	-	PUNCT
dem-1049	10	78	824	824	NUM
dem-1049	10	79	sopot	sopot	NOUN
dem-1049	10	80	,	,	PUNCT
dem-1049	10	81	poland	poland	PROPN
dem-1049	10	82	.	.	PUNCT
dem-1049	11	1	tel	tel	NOUN
dem-1049	11	2	/	/	SYM
dem-1049	11	3	fax	fax	NOUN
dem-1049	11	4	:	:	PUNCT
dem-1049	11	5	+48	+48	NUM
dem-1049	11	6	585231408	585231408	NUM
dem-1049	11	7	,	,	PUNCT
dem-1049	11	8	e	e	NOUN
dem-1049	11	9	-	-	NOUN
dem-1049	11	10	mail	mail	NOUN
dem-1049	11	11	:	:	PUNCT
dem-1049	11	12	milobedp@wzr.ug.edu.pl	milobedp@wzr.ug.edu.pl	PROPN
dem-1049	11	13	†	†	PROPN
dem-1049	11	14	the	the	DET
dem-1049	11	15	earlier	early	ADJ
dem-1049	11	16	version	version	NOUN
dem-1049	11	17	of	of	ADP
dem-1049	11	18	this	this	DET
dem-1049	11	19	paper	paper	NOUN
dem-1049	11	20	was	be	AUX
dem-1049	11	21	presented	present	VERB
dem-1049	11	22	at	at	ADP
dem-1049	11	23	the	the	DET
dem-1049	11	24	dynamic	dynamic	ADJ
dem-1049	11	25	econometric	econometric	ADJ
dem-1049	11	26	models	model	NOUN
dem-1049	11	27	conference	conference	NOUN
dem-1049	11	28	held	hold	VERB
dem-1049	11	29	at	at	ADP
dem-1049	11	30	the	the	DET
dem-1049	11	31	nicolaus	nicolaus	PROPN
dem-1049	11	32	copernicus	copernicus	PROPN
dem-1049	11	33	university	university	PROPN
dem-1049	11	34	,	,	PUNCT
dem-1049	11	35	toruń	toruń	PROPN
dem-1049	11	36	,	,	PUNCT
dem-1049	11	37	september	september	PROPN
dem-1049	11	38	7	7	NUM
dem-1049	11	39	-	-	SYM
dem-1049	11	40	9	9	NUM
dem-1049	11	41	,	,	PUNCT
dem-1049	11	42	2011	2011	NUM
dem-1049	11	43	.	.	PUNCT
dem-1049	12	1	the	the	DET
dem-1049	12	2	research	research	NOUN
dem-1049	12	3	was	be	AUX
dem-1049	12	4	founded	found	VERB
dem-1049	12	5	by	by	ADP
dem-1049	12	6	the	the	DET
dem-1049	12	7	polish	polish	PROPN
dem-1049	12	8	ministry	ministry	PROPN
dem-1049	12	9	of	of	ADP
dem-1049	12	10	science	science	PROPN
dem-1049	12	11	and	and	CCONJ
dem-1049	12	12	higher	high	ADJ
dem-1049	12	13	education	education	NOUN
dem-1049	12	14	under	under	ADP
dem-1049	12	15	the	the	DET
dem-1049	12	16	grant	grant	NOUN
dem-1049	12	17	n	n	ADP
dem-1049	12	18	n111292238	n111292238	ADP
dem-1049	12	19	the	the	DET
dem-1049	12	20	term	term	NOUN
dem-1049	12	21	structure	structure	NOUN
dem-1049	12	22	of	of	ADP
dem-1049	12	23	libor	libor	PROPN
dem-1049	12	24	interest	interest	PROPN
dem-1049	12	25	rates	rate	NOUN
dem-1049	12	26	(	(	PUNCT
dem-1049	12	27	struktura	struktura	VERB
dem-1049	12	28	terminowa	terminowa	PROPN
dem-1049	12	29	stóp	stóp	PROPN
dem-1049	12	30	libor	libor	PROPN
dem-1049	12	31	)	)	PUNCT
dem-1049	12	32	.	.	PUNCT
dem-1049	13	1	maria	maria	PROPN
dem-1049	13	2	blangiewicz	blangiewicz	PROPN
dem-1049	13	3	,	,	PUNCT
dem-1049	13	4	paweł	paweł	VERB
dem-1049	13	5	miłobędzki	miłobędzki	PROPN
dem-1049	13	6	dynamic	dynamic	ADJ
dem-1049	13	7	econometric	econometric	ADJ
dem-1049	13	8	models	model	NOUN
dem-1049	13	9	12	12	NUM
dem-1049	13	10	(	(	PUNCT
dem-1049	13	11	2012	2012	NUM
dem-1049	13	12	)	)	PUNCT
dem-1049	13	13	5–17	5–17	NOUN
dem-1049	13	14	6	6	NUM
dem-1049	13	15	actual	actual	ADJ
dem-1049	13	16	yield	yield	NOUN
dem-1049	13	17	spread	spread	VERB
dem-1049	13	18	between	between	ADP
dem-1049	13	19	the	the	DET
dem-1049	13	20	long	long	ADJ
dem-1049	13	21	and	and	CCONJ
dem-1049	13	22	the	the	DET
dem-1049	13	23	short	short	ADJ
dem-1049	13	24	rate	rate	NOUN
dem-1049	13	25	is	be	AUX
dem-1049	13	26	an	an	DET
dem-1049	13	27	optimal	optimal	ADJ
dem-1049	13	28	predictor	predictor	NOUN
dem-1049	13	29	of	of	ADP
dem-1049	13	30	the	the	DET
dem-1049	13	31	next	next	ADJ
dem-1049	13	32	period	period	NOUN
dem-1049	13	33	’s	’s	PART
dem-1049	13	34	change	change	NOUN
dem-1049	13	35	in	in	ADP
dem-1049	13	36	the	the	DET
dem-1049	13	37	long	long	ADJ
dem-1049	13	38	rate	rate	NOUN
dem-1049	13	39	as	as	ADV
dem-1049	13	40	well	well	ADV
dem-1049	13	41	as	as	ADP
dem-1049	13	42	future	future	ADJ
dem-1049	13	43	changes	change	NOUN
dem-1049	13	44	in	in	ADP
dem-1049	13	45	the	the	DET
dem-1049	13	46	short	short	ADJ
dem-1049	13	47	rate	rate	NOUN
dem-1049	13	48	.	.	PUNCT
dem-1049	14	1	the	the	DET
dem-1049	14	2	early	early	ADJ
dem-1049	14	3	tests	test	NOUN
dem-1049	14	4	of	of	ADP
dem-1049	14	5	the	the	PRON
dem-1049	14	6	eh	eh	INTJ
dem-1049	14	7	invented	invent	VERB
dem-1049	14	8	by	by	ADP
dem-1049	14	9	campbell	campbell	PROPN
dem-1049	14	10	and	and	CCONJ
dem-1049	14	11	shiller	shiller	PROPN
dem-1049	14	12	(	(	PUNCT
dem-1049	14	13	1991	1991	NUM
dem-1049	14	14	)	)	PUNCT
dem-1049	14	15	examine	examine	VERB
dem-1049	14	16	the	the	DET
dem-1049	14	17	ability	ability	NOUN
dem-1049	14	18	of	of	ADP
dem-1049	14	19	the	the	DET
dem-1049	14	20	yield	yield	NOUN
dem-1049	14	21	spread	spread	VERB
dem-1049	14	22	to	to	PART
dem-1049	14	23	predict	predict	VERB
dem-1049	14	24	future	future	ADJ
dem-1049	14	25	changes	change	NOUN
dem-1049	14	26	in	in	ADP
dem-1049	14	27	the	the	DET
dem-1049	14	28	short	short	ADJ
dem-1049	14	29	and	and	CCONJ
dem-1049	14	30	the	the	DET
dem-1049	14	31	long	long	ADJ
dem-1049	14	32	rates	rate	NOUN
dem-1049	14	33	.	.	PUNCT
dem-1049	15	1	embedded	embed	VERB
dem-1049	15	2	in	in	ADP
dem-1049	15	3	either	either	CCONJ
dem-1049	15	4	a	a	DET
dem-1049	15	5	single	single	ADJ
dem-1049	15	6	equation	equation	NOUN
dem-1049	15	7	or	or	CCONJ
dem-1049	15	8	var	var	NOUN
dem-1049	15	9	setting	set	VERB
dem-1049	15	10	they	they	PRON
dem-1049	15	11	provide	provide	VERB
dem-1049	15	12	with	with	ADP
dem-1049	15	13	a	a	DET
dem-1049	15	14	very	very	ADV
dem-1049	15	15	limited	limited	ADJ
dem-1049	15	16	support	support	NOUN
dem-1049	15	17	for	for	ADP
dem-1049	15	18	the	the	DET
dem-1049	15	19	eh	eh	INTJ
dem-1049	15	20	when	when	SCONJ
dem-1049	15	21	performed	perform	VERB
dem-1049	15	22	on	on	ADP
dem-1049	15	23	the	the	DET
dem-1049	15	24	us	us	PROPN
dem-1049	15	25	and	and	CCONJ
dem-1049	15	26	the	the	DET
dem-1049	15	27	other	other	ADJ
dem-1049	15	28	data	datum	NOUN
dem-1049	15	29	.	.	PUNCT
dem-1049	16	1	the	the	DET
dem-1049	16	2	long	long	ADJ
dem-1049	16	3	rates	rate	NOUN
dem-1049	16	4	appear	appear	VERB
dem-1049	16	5	to	to	PART
dem-1049	16	6	move	move	VERB
dem-1049	16	7	in	in	ADP
dem-1049	16	8	the	the	DET
dem-1049	16	9	opposite	opposite	ADJ
dem-1049	16	10	direction	direction	NOUN
dem-1049	16	11	to	to	ADP
dem-1049	16	12	that	that	PRON
dem-1049	16	13	predicted	predict	VERB
dem-1049	16	14	by	by	ADP
dem-1049	16	15	theory	theory	NOUN
dem-1049	16	16	.	.	PUNCT
dem-1049	17	1	the	the	DET
dem-1049	17	2	short	short	ADJ
dem-1049	17	3	rates	rate	NOUN
dem-1049	17	4	move	move	VERB
dem-1049	17	5	in	in	ADP
dem-1049	17	6	the	the	DET
dem-1049	17	7	correct	correct	ADJ
dem-1049	17	8	direction	direction	NOUN
dem-1049	17	9	,	,	PUNCT
dem-1049	17	10	however	however	ADV
dem-1049	17	11	the	the	DET
dem-1049	17	12	yield	yield	NOUN
dem-1049	17	13	spread	spread	NOUN
dem-1049	17	14	is	be	AUX
dem-1049	17	15	their	their	PRON
dem-1049	17	16	poor	poor	ADJ
dem-1049	17	17	predictor	predictor	NOUN
dem-1049	17	18	at	at	ADP
dem-1049	17	19	the	the	DET
dem-1049	17	20	shorter	short	ADJ
dem-1049	17	21	end	end	NOUN
dem-1049	17	22	of	of	ADP
dem-1049	17	23	maturity	maturity	NOUN
dem-1049	17	24	spectrum	spectrum	NOUN
dem-1049	17	25	(	(	PUNCT
dem-1049	17	26	see	see	INTJ
dem-1049	17	27	campbell	campbell	PROPN
dem-1049	17	28	,	,	PUNCT
dem-1049	17	29	shiller	shiller	PROPN
dem-1049	17	30	,	,	PUNCT
dem-1049	17	31	1991	1991	NUM
dem-1049	17	32	;	;	PUNCT
dem-1049	17	33	hardouvelis	hardouvelis	PROPN
dem-1049	17	34	,	,	PUNCT
dem-1049	17	35	1994	1994	NUM
dem-1049	17	36	;	;	PUNCT
dem-1049	17	37	gerlach	gerlach	PROPN
dem-1049	17	38	,	,	PUNCT
dem-1049	17	39	smets	smet	NOUN
dem-1049	17	40	,	,	PUNCT
dem-1049	17	41	1997	1997	NUM
dem-1049	17	42	,	,	PUNCT
dem-1049	17	43	among	among	ADP
dem-1049	17	44	many	many	ADJ
dem-1049	17	45	others	other	NOUN
dem-1049	17	46	)	)	PUNCT
dem-1049	17	47	.	.	PUNCT
dem-1049	18	1	the	the	DET
dem-1049	18	2	empirical	empirical	ADJ
dem-1049	18	3	failure	failure	NOUN
dem-1049	18	4	of	of	ADP
dem-1049	18	5	the	the	DET
dem-1049	18	6	eh	eh	INTJ
dem-1049	18	7	is	be	AUX
dem-1049	18	8	explained	explain	VERB
dem-1049	18	9	in	in	ADP
dem-1049	18	10	a	a	DET
dem-1049	18	11	number	number	NOUN
dem-1049	18	12	of	of	ADP
dem-1049	18	13	ways	way	NOUN
dem-1049	18	14	.	.	PUNCT
dem-1049	19	1	it	it	PRON
dem-1049	19	2	is	be	AUX
dem-1049	19	3	usually	usually	ADV
dem-1049	19	4	accounted	account	VERB
dem-1049	19	5	for	for	ADP
dem-1049	19	6	the	the	DET
dem-1049	19	7	existence	existence	NOUN
dem-1049	19	8	of	of	ADP
dem-1049	19	9	a	a	DET
dem-1049	19	10	time	time	NOUN
dem-1049	19	11	-	-	PUNCT
dem-1049	19	12	varying	vary	VERB
dem-1049	19	13	term	term	NOUN
dem-1049	19	14	premium	premium	NOUN
dem-1049	19	15	which	which	PRON
dem-1049	19	16	is	be	AUX
dem-1049	19	17	assumed	assume	VERB
dem-1049	19	18	constant	constant	ADJ
dem-1049	19	19	in	in	ADP
dem-1049	19	20	traditional	traditional	ADJ
dem-1049	19	21	tests	test	NOUN
dem-1049	19	22	.	.	PUNCT
dem-1049	20	1	the	the	DET
dem-1049	20	2	other	other	ADJ
dem-1049	20	3	explanations	explanation	NOUN
dem-1049	20	4	include	include	VERB
dem-1049	20	5	a	a	DET
dem-1049	20	6	small	small	ADJ
dem-1049	20	7	sample	sample	NOUN
dem-1049	20	8	bias	bias	NOUN
dem-1049	20	9	of	of	ADP
dem-1049	20	10	the	the	DET
dem-1049	20	11	eh	eh	INTJ
dem-1049	20	12	tests	test	NOUN
dem-1049	20	13	remaining	remain	VERB
dem-1049	20	14	severe	severe	ADJ
dem-1049	20	15	in	in	ADP
dem-1049	20	16	large	large	ADJ
dem-1049	20	17	samples	sample	NOUN
dem-1049	20	18	,	,	PUNCT
dem-1049	20	19	the	the	DET
dem-1049	20	20	over	over	NOUN
dem-1049	20	21	-	-	PUNCT
dem-1049	20	22	reaction	reaction	NOUN
dem-1049	20	23	of	of	ADP
dem-1049	20	24	long	long	ADJ
dem-1049	20	25	rates	rate	NOUN
dem-1049	20	26	to	to	ADP
dem-1049	20	27	current	current	ADJ
dem-1049	20	28	short	short	ADJ
dem-1049	20	29	rates	rate	NOUN
dem-1049	20	30	as	as	ADV
dem-1049	20	31	well	well	ADV
dem-1049	20	32	as	as	ADP
dem-1049	20	33	the	the	DET
dem-1049	20	34	asset	asset	NOUN
dem-1049	20	35	pricing	pricing	NOUN
dem-1049	20	36	anomaly	anomaly	NOUN
dem-1049	20	37	disappearing	disappear	VERB
dem-1049	20	38	once	once	SCONJ
dem-1049	20	39	it	it	PRON
dem-1049	20	40	is	be	AUX
dem-1049	20	41	widely	widely	ADV
dem-1049	20	42	recognized	recognize	VERB
dem-1049	20	43	to	to	ADP
dem-1049	20	44	the	the	DET
dem-1049	20	45	public	public	NOUN
dem-1049	20	46	(	(	PUNCT
dem-1049	20	47	tzavalis	tzavalis	PROPN
dem-1049	20	48	,	,	PUNCT
dem-1049	20	49	wickens	wicken	NOUN
dem-1049	20	50	,	,	PUNCT
dem-1049	20	51	1997	1997	NUM
dem-1049	20	52	;	;	PUNCT
dem-1049	20	53	bekaert	bekaert	NOUN
dem-1049	20	54	et	et	PROPN
dem-1049	20	55	al	al	PROPN
dem-1049	20	56	.	.	PROPN
dem-1049	20	57	,	,	PUNCT
dem-1049	20	58	1997	1997	NUM
dem-1049	20	59	;	;	PUNCT
dem-1049	20	60	garganas	gargana	NOUN
dem-1049	20	61	,	,	PUNCT
dem-1049	20	62	hall	hall	PROPN
dem-1049	20	63	,	,	PUNCT
dem-1049	20	64	2011	2011	NUM
dem-1049	20	65	;	;	PUNCT
dem-1049	20	66	bulkley	bulkley	NOUN
dem-1049	20	67	et	et	PROPN
dem-1049	20	68	al	al	PROPN
dem-1049	20	69	.	.	PROPN
dem-1049	20	70	,	,	PUNCT
dem-1049	20	71	2011	2011	NUM
dem-1049	20	72	)	)	PUNCT
dem-1049	20	73	.	.	PUNCT
dem-1049	21	1	it	it	PRON
dem-1049	21	2	is	be	AUX
dem-1049	21	3	also	also	ADV
dem-1049	21	4	stressed	stress	VERB
dem-1049	21	5	that	that	SCONJ
dem-1049	21	6	the	the	DET
dem-1049	21	7	predictive	predictive	ADJ
dem-1049	21	8	power	power	NOUN
dem-1049	21	9	of	of	ADP
dem-1049	21	10	the	the	DET
dem-1049	21	11	yield	yield	NOUN
dem-1049	21	12	spread	spread	NOUN
dem-1049	21	13	depends	depend	VERB
dem-1049	21	14	upon	upon	SCONJ
dem-1049	21	15	monetary	monetary	ADJ
dem-1049	21	16	policies	policy	NOUN
dem-1049	21	17	implemented	implement	VERB
dem-1049	21	18	by	by	ADP
dem-1049	21	19	the	the	DET
dem-1049	21	20	central	central	ADJ
dem-1049	21	21	bank	bank	NOUN
dem-1049	21	22	being	be	AUX
dem-1049	21	23	much	much	ADV
dem-1049	21	24	stronger	strong	ADJ
dem-1049	21	25	at	at	ADP
dem-1049	21	26	the	the	DET
dem-1049	21	27	times	time	NOUN
dem-1049	21	28	of	of	ADP
dem-1049	21	29	monetary	monetary	ADJ
dem-1049	21	30	targeting	targeting	NOUN
dem-1049	21	31	than	than	ADP
dem-1049	21	32	interest	interest	NOUN
dem-1049	21	33	rates	rate	NOUN
dem-1049	21	34	smoothing	smooth	VERB
dem-1049	21	35	(	(	PUNCT
dem-1049	21	36	see	see	VERB
dem-1049	21	37	mankiw	mankiw	PROPN
dem-1049	21	38	,	,	PUNCT
dem-1049	21	39	miron	miron	PROPN
dem-1049	21	40	,	,	PUNCT
dem-1049	21	41	1986	1986	NUM
dem-1049	21	42	;	;	PUNCT
dem-1049	22	1	mccallum	mccallum	PROPN
dem-1049	22	2	,	,	PUNCT
dem-1049	22	3	2005	2005	NUM
dem-1049	22	4	,	,	PUNCT
dem-1049	22	5	among	among	ADP
dem-1049	22	6	many	many	ADJ
dem-1049	22	7	others	other	NOUN
dem-1049	22	8	)	)	PUNCT
dem-1049	22	9	.	.	PUNCT
dem-1049	23	1	in	in	ADP
dem-1049	23	2	this	this	DET
dem-1049	23	3	paper	paper	NOUN
dem-1049	23	4	we	we	PRON
dem-1049	23	5	report	report	VERB
dem-1049	23	6	on	on	ADP
dem-1049	23	7	that	that	SCONJ
dem-1049	23	8	whether	whether	SCONJ
dem-1049	23	9	the	the	DET
dem-1049	23	10	libor	libor	PROPN
dem-1049	23	11	us	us	PROPN
dem-1049	23	12	dollar	dollar	PROPN
dem-1049	23	13	interest	interest	NOUN
dem-1049	23	14	rates	rate	NOUN
dem-1049	23	15	behave	behave	VERB
dem-1049	23	16	according	accord	VERB
dem-1049	23	17	to	to	ADP
dem-1049	23	18	the	the	DET
dem-1049	23	19	eh	eh	INTJ
dem-1049	23	20	.	.	PUNCT
dem-1049	24	1	we	we	PRON
dem-1049	24	2	assume	assume	VERB
dem-1049	24	3	that	that	SCONJ
dem-1049	24	4	the	the	DET
dem-1049	24	5	term	term	NOUN
dem-1049	24	6	premium	premium	NOUN
dem-1049	24	7	vary	vary	VERB
dem-1049	24	8	over	over	ADP
dem-1049	24	9	time	time	NOUN
dem-1049	24	10	and	and	CCONJ
dem-1049	24	11	nest	nest	VERB
dem-1049	24	12	the	the	DET
dem-1049	24	13	analysis	analysis	NOUN
dem-1049	24	14	within	within	ADP
dem-1049	24	15	a	a	DET
dem-1049	24	16	3	3	NUM
dem-1049	24	17	-	-	PUNCT
dem-1049	24	18	variable	variable	ADJ
dem-1049	24	19	var	var	NOUN
dem-1049	24	20	of	of	ADP
dem-1049	24	21	tzavalis	tzavali	NOUN
dem-1049	24	22	and	and	CCONJ
dem-1049	24	23	wickens	wicken	NOUN
dem-1049	24	24	(	(	PUNCT
dem-1049	24	25	1997	1997	NUM
dem-1049	24	26	)	)	PUNCT
dem-1049	24	27	.	.	PUNCT
dem-1049	25	1	we	we	PRON
dem-1049	25	2	estimate	estimate	VERB
dem-1049	25	3	it	it	PRON
dem-1049	25	4	on	on	ADP
dem-1049	25	5	the	the	DET
dem-1049	25	6	monthly	monthly	ADJ
dem-1049	25	7	sampled	sample	VERB
dem-1049	25	8	data	datum	NOUN
dem-1049	25	9	from	from	ADP
dem-1049	25	10	1995	1995	NUM
dem-1049	25	11	to	to	ADP
dem-1049	25	12	2009	2009	NUM
dem-1049	25	13	.	.	PUNCT
dem-1049	26	1	in	in	ADP
dem-1049	26	2	doing	do	VERB
dem-1049	26	3	so	so	ADV
dem-1049	26	4	we	we	PRON
dem-1049	26	5	use	use	VERB
dem-1049	26	6	maturities	maturity	NOUN
dem-1049	26	7	ranging	range	VERB
dem-1049	26	8	from	from	ADP
dem-1049	26	9	1	1	NUM
dem-1049	26	10	to	to	PART
dem-1049	26	11	12	12	NUM
dem-1049	26	12	months	month	NOUN
dem-1049	26	13	.	.	PUNCT
dem-1049	27	1	the	the	DET
dem-1049	27	2	data	datum	NOUN
dem-1049	27	3	come	come	VERB
dem-1049	27	4	from	from	ADP
dem-1049	27	5	thomson	thomson	NOUN
dem-1049	27	6	reuters1	reuters1	NOUN
dem-1049	27	7	.	.	PUNCT
dem-1049	28	1	to	to	PART
dem-1049	28	2	test	test	VERB
dem-1049	28	3	for	for	ADP
dem-1049	28	4	the	the	DET
dem-1049	28	5	time	time	NOUN
dem-1049	28	6	-	-	PUNCT
dem-1049	28	7	varying	vary	VERB
dem-1049	28	8	term	term	NOUN
dem-1049	28	9	premium	premium	NOUN
dem-1049	28	10	,	,	PUNCT
dem-1049	28	11	the	the	DET
dem-1049	28	12	ability	ability	NOUN
dem-1049	28	13	of	of	ADP
dem-1049	28	14	the	the	DET
dem-1049	28	15	yield	yield	NOUN
dem-1049	28	16	spread	spread	VERB
dem-1049	28	17	to	to	PART
dem-1049	28	18	predict	predict	VERB
dem-1049	28	19	future	future	ADJ
dem-1049	28	20	changes	change	NOUN
dem-1049	28	21	in	in	ADP
dem-1049	28	22	the	the	DET
dem-1049	28	23	short	short	ADJ
dem-1049	28	24	rate	rate	NOUN
dem-1049	28	25	and	and	CCONJ
dem-1049	28	26	the	the	DET
dem-1049	28	27	link	link	NOUN
dem-1049	28	28	between	between	ADP
dem-1049	28	29	the	the	DET
dem-1049	28	30	current	current	ADJ
dem-1049	28	31	yield	yield	NOUN
dem-1049	28	32	spread	spread	VERB
dem-1049	28	33	and	and	CCONJ
dem-1049	28	34	that	that	PRON
dem-1049	28	35	predicted	predict	VERB
dem-1049	28	36	from	from	ADP
dem-1049	28	37	the	the	DET
dem-1049	28	38	var	var	NOUN
dem-1049	28	39	we	we	PRON
dem-1049	28	40	set	set	VERB
dem-1049	28	41	restrictions	restriction	NOUN
dem-1049	28	42	on	on	ADP
dem-1049	28	43	its	its	PRON
dem-1049	28	44	parameters	parameter	NOUN
dem-1049	28	45	and	and	CCONJ
dem-1049	28	46	statistics	statistic	NOUN
dem-1049	28	47	.	.	PUNCT
dem-1049	29	1	we	we	PRON
dem-1049	29	2	provide	provide	VERB
dem-1049	29	3	with	with	ADP
dem-1049	29	4	some	some	DET
dem-1049	29	5	evidence	evidence	NOUN
dem-1049	29	6	against	against	ADP
dem-1049	29	7	the	the	DET
dem-1049	29	8	eh	eh	INTJ
dem-1049	29	9	.	.	PUNCT
dem-1049	30	1	the	the	DET
dem-1049	30	2	results	result	NOUN
dem-1049	30	3	reported	report	VERB
dem-1049	30	4	in	in	ADP
dem-1049	30	5	the	the	DET
dem-1049	30	6	paper	paper	NOUN
dem-1049	30	7	complement	complement	NOUN
dem-1049	30	8	those	those	PRON
dem-1049	30	9	of	of	ADP
dem-1049	30	10	hurn	hurn	PROPN
dem-1049	30	11	et	et	PROPN
dem-1049	30	12	al	al	PROPN
dem-1049	30	13	.	.	PROPN
dem-1049	30	14	(	(	PUNCT
dem-1049	30	15	1995	1995	NUM
dem-1049	30	16	)	)	PUNCT
dem-1049	30	17	and	and	CCONJ
dem-1049	30	18	miłobędzki	miłobędzki	PROPN
dem-1049	30	19	(	(	PUNCT
dem-1049	30	20	2010	2010	NUM
dem-1049	30	21	)	)	PUNCT
dem-1049	30	22	who	who	PRON
dem-1049	30	23	analyzed	analyze	VERB
dem-1049	30	24	the	the	DET
dem-1049	30	25	libor	libor	PROPN
dem-1049	30	26	interest	interest	NOUN
dem-1049	30	27	rates	rate	NOUN
dem-1049	30	28	in	in	ADP
dem-1049	30	29	sterling	sterling	NOUN
dem-1049	30	30	and	and	CCONJ
dem-1049	30	31	using	use	VERB
dem-1049	30	32	the	the	DET
dem-1049	30	33	var	var	NOUN
dem-1049	30	34	methodology	methodology	NOUN
dem-1049	30	35	found	find	VERB
dem-1049	30	36	much	much	ADJ
dem-1049	30	37	support	support	NOUN
dem-1049	30	38	for	for	ADP
dem-1049	30	39	the	the	DET
dem-1049	30	40	eh	eh	INTJ
dem-1049	30	41	at	at	ADP
dem-1049	30	42	the	the	DET
dem-1049	30	43	whole	whole	ADJ
dem-1049	30	44	maturity	maturity	NOUN
dem-1049	30	45	spectrum	spectrum	NOUN
dem-1049	30	46	.	.	PUNCT
dem-1049	31	1	the	the	DET
dem-1049	31	2	remainder	remainder	NOUN
dem-1049	31	3	of	of	ADP
dem-1049	31	4	the	the	DET
dem-1049	31	5	paper	paper	NOUN
dem-1049	31	6	proceeds	proceed	NOUN
dem-1049	31	7	as	as	SCONJ
dem-1049	31	8	follows	follow	VERB
dem-1049	31	9	.	.	PUNCT
dem-1049	32	1	section	section	NOUN
dem-1049	32	2	1	1	NUM
dem-1049	32	3	introduces	introduce	NOUN
dem-1049	32	4	the	the	DET
dem-1049	32	5	eh	eh	INTJ
dem-1049	32	6	of	of	ADP
dem-1049	32	7	the	the	DET
dem-1049	32	8	term	term	NOUN
dem-1049	32	9	structure	structure	NOUN
dem-1049	32	10	of	of	ADP
dem-1049	32	11	interest	interest	NOUN
dem-1049	32	12	rates	rate	NOUN
dem-1049	32	13	and	and	CCONJ
dem-1049	32	14	shows	show	VERB
dem-1049	32	15	its	its	PRON
dem-1049	32	16	implications	implication	NOUN
dem-1049	32	17	.	.	PUNCT
dem-1049	33	1	section	section	NOUN
dem-1049	33	2	2	2	NUM
dem-1049	33	3	reviews	review	VERB
dem-1049	33	4	the	the	DET
dem-1049	33	5	var	var	NOUN
dem-1049	33	6	based	base	VERB
dem-1049	33	7	tests	test	NOUN
dem-1049	33	8	of	of	ADP
dem-1049	33	9	the	the	DET
dem-1049	33	10	eh	eh	INTJ
dem-1049	33	11	allowing	allow	VERB
dem-1049	33	12	for	for	ADP
dem-1049	33	13	the	the	DET
dem-1049	33	14	time	time	NOUN
dem-1049	33	15	-	-	PUNCT
dem-1049	33	16	varying	vary	VERB
dem-1049	33	17	term	term	NOUN
dem-1049	33	18	premium	premium	NOUN
dem-1049	33	19	.	.	PUNCT
dem-1049	34	1	section	section	NOUN
dem-1049	34	2	3	3	NUM
dem-1049	34	3	discusses	discuss	VERB
dem-1049	34	4	our	our	PRON
dem-1049	34	5	empirical	empirical	ADJ
dem-1049	34	6	findings	finding	NOUN
dem-1049	34	7	.	.	PUNCT
dem-1049	35	1	the	the	DET
dem-1049	35	2	last	last	ADJ
dem-1049	35	3	section	section	NOUN
dem-1049	35	4	briefly	briefly	ADV
dem-1049	35	5	concludes	conclude	VERB
dem-1049	35	6	.	.	PUNCT
dem-1049	36	1	1	1	NUM
dem-1049	36	2	the	the	DET
dem-1049	36	3	data	datum	NOUN
dem-1049	36	4	are	be	AUX
dem-1049	36	5	supplied	supply	VERB
dem-1049	36	6	under	under	ADP
dem-1049	36	7	the	the	DET
dem-1049	36	8	agreement	agreement	NOUN
dem-1049	36	9	between	between	ADP
dem-1049	36	10	thomson	thomson	PROPN
dem-1049	36	11	reuters	reuters	PROPN
dem-1049	36	12	poland	poland	PROPN
dem-1049	36	13	and	and	CCONJ
dem-1049	36	14	the	the	DET
dem-1049	36	15	university	university	NOUN
dem-1049	36	16	of	of	ADP
dem-1049	36	17	gdańsk	gdańsk	PROPN
dem-1049	36	18	.	.	PUNCT
dem-1049	37	1	the	the	DET
dem-1049	37	2	expectations	expectation	NOUN
dem-1049	37	3	hypothesis	hypothesis	NOUN
dem-1049	37	4	of	of	ADP
dem-1049	37	5	the	the	DET
dem-1049	37	6	term	term	NOUN
dem-1049	37	7	structure	structure	NOUN
dem-1049	37	8	of	of	ADP
dem-1049	37	9	libor	libor	PROPN
dem-1049	37	10	us	us	PROPN
dem-1049	37	11	dollar	dollar	NOUN
dem-1049	37	12	interest	interest	NOUN
dem-1049	37	13	rates	rate	NOUN
dem-1049	37	14	dynamic	dynamic	ADJ
dem-1049	37	15	econometric	econometric	ADJ
dem-1049	37	16	models	model	NOUN
dem-1049	37	17	12	12	NUM
dem-1049	37	18	(	(	PUNCT
dem-1049	37	19	2012	2012	NUM
dem-1049	37	20	)	)	PUNCT
dem-1049	37	21	5–17	5–17	NOUN
dem-1049	37	22	7	7	NUM
dem-1049	37	23	1	1	NUM
dem-1049	37	24	.	.	PUNCT
dem-1049	37	25	eh	eh	INTJ
dem-1049	37	26	of	of	ADP
dem-1049	37	27	the	the	DET
dem-1049	37	28	term	term	NOUN
dem-1049	37	29	structure	structure	NOUN
dem-1049	37	30	of	of	ADP
dem-1049	37	31	interest	interest	NOUN
dem-1049	37	32	rates	rate	NOUN
dem-1049	37	33	and	and	CCONJ
dem-1049	37	34	its	its	PRON
dem-1049	37	35	implications	implication	NOUN
dem-1049	37	36	the	the	DET
dem-1049	37	37	eh	eh	INTJ
dem-1049	37	38	of	of	ADP
dem-1049	37	39	the	the	DET
dem-1049	37	40	term	term	NOUN
dem-1049	37	41	structure	structure	NOUN
dem-1049	37	42	of	of	ADP
dem-1049	37	43	interest	interest	NOUN
dem-1049	37	44	rates	rate	NOUN
dem-1049	37	45	may	may	AUX
dem-1049	37	46	be	be	AUX
dem-1049	37	47	formally	formally	ADV
dem-1049	37	48	stated	state	VERB
dem-1049	37	49	as	as	ADP
dem-1049	37	50	:	:	PUNCT
dem-1049	37	51	(	(	PUNCT
dem-1049	37	52	)	)	PUNCT
dem-1049	37	53	(	(	PUNCT
dem-1049	37	54	)	)	PUNCT
dem-1049	37	55	(	(	PUNCT
dem-1049	37	56	)	)	PUNCT
dem-1049	37	57	(	(	PUNCT
dem-1049	37	58	)	)	PUNCT
dem-1049	37	59	(	(	PUNCT
dem-1049	37	60	)	)	SYM
dem-1049	37	61	1	1	NUM
dem-1049	37	62	1	1	NUM
dem-1049	37	63	1	1	NUM
dem-1049	37	64	1ln	1ln	NOUN
dem-1049	37	65	lnn	lnn	NOUN
dem-1049	37	66	n	n	CCONJ
dem-1049	37	67	n	n	CCONJ
dem-1049	37	68	n	n	PROPN
dem-1049	37	69	t	t	PROPN
dem-1049	37	70	t	t	PROPN
dem-1049	37	71	t	t	PROPN
dem-1049	37	72	t	t	PROPN
dem-1049	37	73	t	t	PROPN
dem-1049	37	74	t	t	PROPN
dem-1049	37	75	te	te	INTJ
dem-1049	37	76	h	h	NOUN
dem-1049	37	77	e	e	NOUN
dem-1049	38	1	p	p	X
dem-1049	38	2	p	p	X
dem-1049	38	3	r	r	NOUN
dem-1049	38	4	θ−	θ−	PROPN
dem-1049	38	5	+	+	CCONJ
dem-1049	38	6	+	+	NUM
dem-1049	38	7			NOUN
dem-1049	38	8	=	=	X
dem-1049	38	9	−	−	PUNCT
dem-1049	38	10	=	=	SYM
dem-1049	39	1	+	+	NOUN
dem-1049	39	2			X
dem-1049	39	3			NOUN
dem-1049	39	4	,	,	PUNCT
dem-1049	39	5	(	(	PUNCT
dem-1049	39	6	1	1	X
dem-1049	39	7	)	)	PUNCT
dem-1049	39	8	where	where	SCONJ
dem-1049	39	9	(	(	PUNCT
dem-1049	39	10	)	)	PUNCT
dem-1049	39	11	n	n	X
dem-1049	39	12	tp	tp	NOUN
dem-1049	39	13	is	be	AUX
dem-1049	39	14	the	the	DET
dem-1049	39	15	price	price	NOUN
dem-1049	39	16	at	at	ADP
dem-1049	39	17	time	time	NOUN
dem-1049	39	18	t	t	PROPN
dem-1049	39	19	of	of	ADP
dem-1049	39	20	pure	pure	ADJ
dem-1049	39	21	discount	discount	NOUN
dem-1049	39	22	bond	bond	NOUN
dem-1049	39	23	with	with	ADP
dem-1049	39	24	face	face	NOUN
dem-1049	39	25	value	value	NOUN
dem-1049	39	26	of	of	ADP
dem-1049	39	27	$	$	SYM
dem-1049	39	28	1	1	NUM
dem-1049	39	29	and	and	CCONJ
dem-1049	39	30	n	n	ADV
dem-1049	39	31	periods	period	NOUN
dem-1049	39	32	to	to	ADP
dem-1049	39	33	maturity	maturity	NOUN
dem-1049	39	34	,	,	PUNCT
dem-1049	39	35	(	(	PUNCT
dem-1049	39	36	)	)	PUNCT
dem-1049	39	37	1	1	NUM
dem-1049	39	38	tr	tr	NOUN
dem-1049	39	39	is	be	AUX
dem-1049	39	40	the	the	DET
dem-1049	39	41	certain	certain	ADJ
dem-1049	39	42	(	(	PUNCT
dem-1049	39	43	riskless	riskless	NOUN
dem-1049	39	44	)	)	PUNCT
dem-1049	39	45	one	one	NUM
dem-1049	39	46	-	-	PUNCT
dem-1049	39	47	period	period	NOUN
dem-1049	39	48	interest	interest	NOUN
dem-1049	39	49	rate	rate	NOUN
dem-1049	39	50	,	,	PUNCT
dem-1049	39	51	and	and	CCONJ
dem-1049	39	52	(	(	PUNCT
dem-1049	39	53	)	)	PUNCT
dem-1049	39	54	n	n	X
dem-1049	39	55	tθ	tθ	NOUN
dem-1049	39	56	is	be	AUX
dem-1049	39	57	a	a	DET
dem-1049	39	58	term	term	NOUN
dem-1049	39	59	premium	premium	NOUN
dem-1049	39	60	which	which	PRON
dem-1049	39	61	compensates	compensate	VERB
dem-1049	39	62	for	for	ADP
dem-1049	39	63	the	the	DET
dem-1049	39	64	risk	risk	NOUN
dem-1049	39	65	of	of	ADP
dem-1049	39	66	investing	invest	VERB
dem-1049	39	67	in	in	ADP
dem-1049	39	68	long	long	ADJ
dem-1049	39	69	bonds	bond	NOUN
dem-1049	39	70	.	.	PUNCT
dem-1049	40	1	the	the	DET
dem-1049	40	2	term	term	NOUN
dem-1049	40	3	premium	premium	NOUN
dem-1049	40	4	is	be	AUX
dem-1049	40	5	admitted	admit	VERB
dem-1049	40	6	to	to	PART
dem-1049	40	7	vary	vary	VERB
dem-1049	40	8	in	in	ADP
dem-1049	40	9	time	time	NOUN
dem-1049	40	10	but	but	CCONJ
dem-1049	40	11	presumed	presume	VERB
dem-1049	40	12	to	to	PART
dem-1049	40	13	be	be	AUX
dem-1049	40	14	a	a	DET
dem-1049	40	15	stationary	stationary	ADJ
dem-1049	40	16	random	random	ADJ
dem-1049	40	17	variable	variable	NOUN
dem-1049	40	18	.	.	PUNCT
dem-1049	41	1	variants	variant	NOUN
dem-1049	41	2	of	of	ADP
dem-1049	41	3	the	the	DET
dem-1049	41	4	eh	eh	INTJ
dem-1049	41	5	include	include	VERB
dem-1049	41	6	the	the	DET
dem-1049	41	7	pure	pure	ADJ
dem-1049	41	8	(	(	PUNCT
dem-1049	41	9	(	(	PUNCT
dem-1049	41	10	)	)	PUNCT
dem-1049	41	11	0n	0n	NOUN
dem-1049	41	12	tθ	tθ	NOUN
dem-1049	41	13	=	=	SYM
dem-1049	41	14	,	,	PUNCT
dem-1049	41	15	peh	peh	PROPN
dem-1049	41	16	)	)	PUNCT
dem-1049	41	17	,	,	PUNCT
dem-1049	41	18	constant	constant	ADJ
dem-1049	41	19	(	(	PUNCT
dem-1049	41	20	(	(	PUNCT
dem-1049	41	21	)	)	PUNCT
dem-1049	41	22	n	n	PRON
dem-1049	41	23	t	t	NOUN
dem-1049	41	24	constθ	constθ	NOUN
dem-1049	41	25	=	=	SYM
dem-1049	41	26	,	,	PUNCT
dem-1049	41	27	ceh	ceh	PROPN
dem-1049	41	28	)	)	PUNCT
dem-1049	41	29	and	and	CCONJ
dem-1049	41	30	liquidity	liquidity	NOUN
dem-1049	41	31	preference	preference	NOUN
dem-1049	41	32	versions	version	NOUN
dem-1049	41	33	(	(	PUNCT
dem-1049	41	34	(	(	PUNCT
dem-1049	41	35	)	)	PUNCT
dem-1049	41	36	(	(	PUNCT
dem-1049	41	37	)	)	PUNCT
dem-1049	41	38	1n	1n	NUM
dem-1049	41	39	n	n	NUM
dem-1049	41	40	t	t	NOUN
dem-1049	41	41	tθ	tθ	NOUN
dem-1049	41	42	θ	θ	PROPN
dem-1049	42	1	−	−	PROPN
dem-1049	42	2	>	>	X
dem-1049	42	3	>	>	PUNCT
dem-1049	42	4			PRON
dem-1049	42	5	(	(	PUNCT
dem-1049	42	6	)	)	PUNCT
dem-1049	42	7	2	2	NUM
dem-1049	42	8	tθ	tθ	NOUN
dem-1049	42	9	>	>	X
dem-1049	42	10	,	,	PUNCT
dem-1049	42	11	lpeh	lpeh	PROPN
dem-1049	42	12	)	)	PUNCT
dem-1049	42	13	(	(	PUNCT
dem-1049	42	14	for	for	ADP
dem-1049	42	15	all	all	DET
dem-1049	42	16	t	t	NOUN
dem-1049	42	17	and	and	CCONJ
dem-1049	42	18	n	n	NUM
dem-1049	42	19	)	)	PUNCT
dem-1049	42	20	.	.	PUNCT
dem-1049	43	1	the	the	DET
dem-1049	43	2	term	term	NOUN
dem-1049	43	3	premium	premium	NOUN
dem-1049	43	4	,	,	PUNCT
dem-1049	43	5	(	(	PUNCT
dem-1049	43	6	)	)	PUNCT
dem-1049	43	7	n	n	X
dem-1049	43	8	tθ	tθ	VERB
dem-1049	43	9	,	,	PUNCT
dem-1049	43	10	according	accord	VERB
dem-1049	43	11	to	to	ADP
dem-1049	43	12	eq	eq	PROPN
dem-1049	43	13	.	.	PUNCT
dem-1049	43	14	(	(	PUNCT
dem-1049	43	15	1	1	NUM
dem-1049	43	16	)	)	PUNCT
dem-1049	43	17	,	,	PUNCT
dem-1049	43	18	is	be	AUX
dem-1049	43	19	reflected	reflect	VERB
dem-1049	43	20	by	by	ADP
dem-1049	43	21	the	the	DET
dem-1049	43	22	expected	expect	VERB
dem-1049	43	23	excess	excess	ADJ
dem-1049	43	24	one	one	NUM
dem-1049	43	25	-	-	PUNCT
dem-1049	43	26	period	period	NOUN
dem-1049	43	27	holding	hold	VERB
dem-1049	43	28	period	period	NOUN
dem-1049	43	29	return	return	NOUN
dem-1049	43	30	,	,	PUNCT
dem-1049	43	31	(	(	PUNCT
dem-1049	43	32	)	)	PUNCT
dem-1049	43	33	(	(	PUNCT
dem-1049	43	34	)	)	SYM
dem-1049	43	35	1	1	NUM
dem-1049	43	36	1	1	NUM
dem-1049	43	37	n	n	NUM
dem-1049	43	38	t	t	NOUN
dem-1049	43	39	t	t	NOUN
dem-1049	43	40	te	te	INTJ
dem-1049	43	41	h	h	PROPN
dem-1049	43	42	r+	r+	PUNCT
dem-1049	43	43	−	−	PROPN
dem-1049	43	44	.	.	PUNCT
dem-1049	44	1	to	to	PART
dem-1049	44	2	demonstrate	demonstrate	VERB
dem-1049	44	3	implications	implication	NOUN
dem-1049	44	4	of	of	ADP
dem-1049	44	5	the	the	DET
dem-1049	44	6	eh	eh	INTJ
dem-1049	44	7	for	for	ADP
dem-1049	44	8	the	the	DET
dem-1049	44	9	interest	interest	NOUN
dem-1049	44	10	rates	rate	NOUN
dem-1049	44	11	the	the	DET
dem-1049	44	12	following	follow	VERB
dem-1049	44	13	is	be	AUX
dem-1049	44	14	usually	usually	ADV
dem-1049	44	15	undertaken	undertake	VERB
dem-1049	44	16	(	(	PUNCT
dem-1049	44	17	campbell	campbell	PROPN
dem-1049	44	18	,	,	PUNCT
dem-1049	44	19	shiller	shiller	PROPN
dem-1049	44	20	,	,	PUNCT
dem-1049	44	21	1991	1991	NUM
dem-1049	44	22	;	;	PUNCT
dem-1049	44	23	cuthbertson	cuthbertson	NOUN
dem-1049	44	24	,	,	PUNCT
dem-1049	44	25	1996	1996	NUM
dem-1049	44	26	;	;	PUNCT
dem-1049	44	27	tzavalis	tzavalis	PROPN
dem-1049	44	28	,	,	PUNCT
dem-1049	44	29	wickens	wicken	NOUN
dem-1049	44	30	,	,	PUNCT
dem-1049	44	31	1997	1997	NUM
dem-1049	44	32	;	;	PUNCT
dem-1049	44	33	cuthbertson	cuthbertson	NOUN
dem-1049	44	34	,	,	PUNCT
dem-1049	44	35	nitzsche	nitzsche	NOUN
dem-1049	44	36	,	,	PUNCT
dem-1049	44	37	2003	2003	NUM
dem-1049	44	38	)	)	PUNCT
dem-1049	44	39	.	.	PUNCT
dem-1049	45	1	firstly	firstly	ADV
dem-1049	45	2	,	,	PUNCT
dem-1049	45	3	a	a	DET
dem-1049	45	4	continuous	continuous	ADJ
dem-1049	45	5	compounding	compounding	NOUN
dem-1049	45	6	is	be	AUX
dem-1049	45	7	assumed	assume	VERB
dem-1049	45	8	,	,	PUNCT
dem-1049	45	9	i.e.	i.e.	X
dem-1049	45	10	(	(	PUNCT
dem-1049	45	11	)	)	PUNCT
dem-1049	45	12	(	(	PUNCT
dem-1049	45	13	)	)	PUNCT
dem-1049	45	14	ln	ln	NOUN
dem-1049	45	15	n	n	ADP
dem-1049	45	16	n	n	ADP
dem-1049	45	17	t	t	NOUN
dem-1049	46	1	tp	tp	PART
dem-1049	46	2	nr=	nr=	VERB
dem-1049	46	3	−	−	PROPN
dem-1049	46	4	,	,	PUNCT
dem-1049	46	5	where	where	SCONJ
dem-1049	46	6	(	(	PUNCT
dem-1049	46	7	)	)	PUNCT
dem-1049	46	8	n	n	X
dem-1049	46	9	tr	tr	NOUN
dem-1049	46	10	is	be	AUX
dem-1049	46	11	the	the	DET
dem-1049	46	12	spot	spot	NOUN
dem-1049	46	13	yield	yield	NOUN
dem-1049	46	14	on	on	ADP
dem-1049	46	15	the	the	DET
dem-1049	46	16	long	long	ADJ
dem-1049	46	17	bond	bond	NOUN
dem-1049	46	18	.	.	PUNCT
dem-1049	47	1	then	then	ADV
dem-1049	47	2	some	some	DET
dem-1049	47	3	manipulations	manipulation	NOUN
dem-1049	47	4	of	of	ADP
dem-1049	47	5	eq	eq	PROPN
dem-1049	47	6	.	.	PUNCT
dem-1049	48	1	(	(	PUNCT
dem-1049	48	2	1	1	X
dem-1049	48	3	)	)	PUNCT
dem-1049	48	4	result	result	NOUN
dem-1049	48	5	in	in	ADP
dem-1049	48	6	:	:	PUNCT
dem-1049	48	7	(	(	PUNCT
dem-1049	48	8	)	)	PUNCT
dem-1049	48	9	(	(	PUNCT
dem-1049	48	10	)	)	PUNCT
dem-1049	48	11	(	(	PUNCT
dem-1049	48	12	)	)	PUNCT
dem-1049	48	13	(	(	PUNCT
dem-1049	48	14	)	)	SYM
dem-1049	48	15	1	1	NUM
dem-1049	48	16	1	1	NUM
dem-1049	48	17	0	0	NUM
dem-1049	48	18	1	1	NUM
dem-1049	48	19	nn	nn	PROPN
dem-1049	48	20	n	n	SYM
dem-1049	48	21	t	t	PROPN
dem-1049	48	22	t	t	NOUN
dem-1049	48	23	t	t	NOUN
dem-1049	49	1	i	i	PRON
dem-1049	49	2	ti	ti	VERB
dem-1049	49	3	r	r	NOUN
dem-1049	49	4	n	n	NOUN
dem-1049	49	5	e	e	NOUN
dem-1049	49	6	r−	r−	PROPN
dem-1049	49	7	+	+	PROPN
dem-1049	49	8	=	=	SYM
dem-1049	49	9	=	=	SYM
dem-1049	50	1	+	+	CCONJ
dem-1049	50	2	θ∑	θ∑	X
dem-1049	50	3	,	,	PUNCT
dem-1049	50	4	(	(	PUNCT
dem-1049	50	5	2	2	NUM
dem-1049	50	6	)	)	PUNCT
dem-1049	50	7	where	where	SCONJ
dem-1049	50	8	(	(	PUNCT
dem-1049	50	9	)	)	PUNCT
dem-1049	50	10	(	(	PUNCT
dem-1049	50	11	)	)	PUNCT
dem-1049	50	12	(	(	PUNCT
dem-1049	50	13	)	)	PUNCT
dem-1049	50	14	1	1	NUM
dem-1049	50	15	0	0	NUM
dem-1049	50	16	1	1	NUM
dem-1049	50	17	nn	nn	NUM
dem-1049	50	18	n	n	PRON
dem-1049	50	19	i	i	PRON
dem-1049	50	20	t	t	NOUN
dem-1049	50	21	t	t	PROPN
dem-1049	50	22	t	t	PROPN
dem-1049	50	23	ii	ii	PROPN
dem-1049	50	24	n	n	PROPN
dem-1049	50	25	eθ−	eθ−	PUNCT
dem-1049	50	26	−	−	ADP
dem-1049	51	1	+	+	NOUN
dem-1049	51	2	=	=	PROPN
dem-1049	51	3	θ	θ	X
dem-1049	51	4	=	=	PUNCT
dem-1049	51	5	∑	∑	PUNCT
dem-1049	51	6	.	.	PUNCT
dem-1049	52	1	subtracting	subtract	VERB
dem-1049	52	2	(	(	PUNCT
dem-1049	52	3	)	)	PUNCT
dem-1049	52	4	1	1	NUM
dem-1049	52	5	tr	tr	VERB
dem-1049	52	6	from	from	ADP
dem-1049	52	7	both	both	DET
dem-1049	52	8	sides	side	NOUN
dem-1049	52	9	of	of	ADP
dem-1049	52	10	eq	eq	PROPN
dem-1049	52	11	.	.	PUNCT
dem-1049	53	1	(	(	PUNCT
dem-1049	53	2	2	2	NUM
dem-1049	53	3	)	)	PUNCT
dem-1049	53	4	and	and	CCONJ
dem-1049	53	5	rearranging	rearrange	VERB
dem-1049	53	6	terms	term	NOUN
dem-1049	53	7	yield	yield	VERB
dem-1049	53	8	:	:	PUNCT
dem-1049	53	9	(	(	PUNCT
dem-1049	53	10	)	)	PUNCT
dem-1049	53	11	(	(	PUNCT
dem-1049	53	12	)	)	PUNCT
dem-1049	53	13	(	(	PUNCT
dem-1049	53	14	)	)	PUNCT
dem-1049	53	15	(	(	PUNCT
dem-1049	53	16	)	)	SYM
dem-1049	53	17	1	1	NUM
dem-1049	53	18	1	1	NUM
dem-1049	53	19	1	1	NUM
dem-1049	53	20	1nn	1nn	NOUN
dem-1049	53	21	n	n	ADP
dem-1049	53	22	t	t	NOUN
dem-1049	53	23	t	t	NOUN
dem-1049	54	1	t	t	NOUN
dem-1049	55	1	i	i	PRON
dem-1049	55	2	ti	ti	NOUN
dem-1049	55	3	s	s	PART
dem-1049	55	4	e	e	NOUN
dem-1049	55	5	i	i	PRON
dem-1049	55	6	n	n	VERB
dem-1049	55	7	r−	r−	VERB
dem-1049	55	8	+	+	PROPN
dem-1049	55	9	=	=	SYM
dem-1049	55	10	=	=	SYM
dem-1049	55	11	−	−	PROPN
dem-1049	55	12	∆	∆	PROPN
dem-1049	56	1	+	+	X
dem-1049	56	2	θ∑	θ∑	X
dem-1049	56	3	.	.	PUNCT
dem-1049	57	1	(	(	PUNCT
dem-1049	57	2	3	3	X
dem-1049	57	3	)	)	PUNCT
dem-1049	57	4	eq	eq	NOUN
dem-1049	57	5	.	.	PUNCT
dem-1049	58	1	(	(	PUNCT
dem-1049	58	2	3	3	X
dem-1049	58	3	)	)	PUNCT
dem-1049	58	4	shows	show	VERB
dem-1049	58	5	that	that	SCONJ
dem-1049	58	6	the	the	DET
dem-1049	58	7	observed	observe	VERB
dem-1049	58	8	yield	yield	NOUN
dem-1049	58	9	spread	spread	NOUN
dem-1049	58	10	should	should	AUX
dem-1049	58	11	equal	equal	VERB
dem-1049	58	12	to	to	ADP
dem-1049	58	13	the	the	DET
dem-1049	58	14	sum	sum	NOUN
dem-1049	58	15	of	of	ADP
dem-1049	58	16	the	the	DET
dem-1049	58	17	optimal	optimal	ADJ
dem-1049	58	18	forecast	forecast	NOUN
dem-1049	58	19	of	of	ADP
dem-1049	58	20	future	future	ADJ
dem-1049	58	21	changes	change	NOUN
dem-1049	58	22	in	in	ADP
dem-1049	58	23	the	the	DET
dem-1049	58	24	short	short	ADJ
dem-1049	58	25	rate	rate	NOUN
dem-1049	58	26	,	,	PUNCT
dem-1049	58	27	(	(	PUNCT
dem-1049	58	28	)	)	PUNCT
dem-1049	58	29	(	(	PUNCT
dem-1049	58	30	)	)	SYM
dem-1049	58	31	1	1	NUM
dem-1049	58	32	1	1	NUM
dem-1049	58	33	1	1	NUM
dem-1049	58	34	1n	1n	NUM
dem-1049	58	35	t	t	NOUN
dem-1049	58	36	t	t	PROPN
dem-1049	58	37	ii	ii	PROPN
dem-1049	58	38	e	e	X
dem-1049	58	39	i	i	PRON
dem-1049	58	40	n	n	VERB
dem-1049	58	41	r−	r−	VERB
dem-1049	58	42	+	+	PROPN
dem-1049	58	43	=	=	NOUN
dem-1049	58	44	−	−	ADJ
dem-1049	58	45	∆∑	∆∑	NOUN
dem-1049	58	46	,	,	PUNCT
dem-1049	58	47	and	and	CCONJ
dem-1049	58	48	the	the	DET
dem-1049	58	49	average	average	NOUN
dem-1049	58	50	of	of	ADP
dem-1049	58	51	term	term	NOUN
dem-1049	58	52	premia	premia	PROPN
dem-1049	58	53	expectations	expectation	NOUN
dem-1049	58	54	,	,	PUNCT
dem-1049	58	55	(	(	PUNCT
dem-1049	58	56	)	)	PUNCT
dem-1049	58	57	n	n	X
dem-1049	58	58	tθ	tθ	NOUN
dem-1049	58	59	(	(	PUNCT
dem-1049	58	60	rolling	rolling	VERB
dem-1049	58	61	-	-	PUNCT
dem-1049	58	62	over	over	ADP
dem-1049	58	63	term	term	NOUN
dem-1049	58	64	premium	premium	NOUN
dem-1049	58	65	)	)	PUNCT
dem-1049	58	66	.	.	PUNCT
dem-1049	59	1	thus	thus	ADV
dem-1049	59	2	it	it	PRON
dem-1049	59	3	can	can	AUX
dem-1049	59	4	be	be	AUX
dem-1049	59	5	concluded	conclude	VERB
dem-1049	59	6	that	that	SCONJ
dem-1049	59	7	at	at	ADP
dem-1049	59	8	time	time	NOUN
dem-1049	59	9	t	t	PROPN
dem-1049	59	10	no	no	DET
dem-1049	59	11	other	other	ADJ
dem-1049	59	12	information	information	NOUN
dem-1049	59	13	apart	apart	ADV
dem-1049	59	14	from	from	ADP
dem-1049	59	15	that	that	PRON
dem-1049	59	16	contained	contain	VERB
dem-1049	59	17	in	in	ADP
dem-1049	59	18	both	both	DET
dem-1049	59	19	variables	variable	NOUN
dem-1049	59	20	should	should	AUX
dem-1049	59	21	help	help	VERB
dem-1049	59	22	predict	predict	VERB
dem-1049	59	23	future	future	ADJ
dem-1049	59	24	changes	change	NOUN
dem-1049	59	25	in	in	ADP
dem-1049	59	26	the	the	DET
dem-1049	59	27	short	short	ADJ
dem-1049	59	28	rate	rate	NOUN
dem-1049	59	29	.	.	PUNCT
dem-1049	60	1	the	the	DET
dem-1049	60	2	immediate	immediate	ADJ
dem-1049	60	3	consequence	consequence	NOUN
dem-1049	60	4	of	of	ADP
dem-1049	60	5	the	the	DET
dem-1049	60	6	latter	latter	ADJ
dem-1049	60	7	is	be	AUX
dem-1049	60	8	twofold	twofold	ADV
dem-1049	60	9	:	:	PUNCT
dem-1049	60	10	(	(	PUNCT
dem-1049	60	11	)	)	PUNCT
dem-1049	60	12	n	n	X
dem-1049	60	13	ts	ts	ADV
dem-1049	60	14	should	should	AUX
dem-1049	60	15	granger	granger	PROPN
dem-1049	60	16	cause	cause	VERB
dem-1049	60	17	(	(	PUNCT
dem-1049	60	18	)	)	PUNCT
dem-1049	60	19	1	1	NUM
dem-1049	60	20	t	t	PROPN
dem-1049	60	21	ir	ir	X
dem-1049	60	22	+	+	NOUN
dem-1049	60	23	∆	∆	X
dem-1049	60	24	,	,	PUNCT
dem-1049	60	25	and	and	CCONJ
dem-1049	60	26	in	in	ADP
dem-1049	60	27	the	the	DET
dem-1049	60	28	case	case	NOUN
dem-1049	60	29	term	term	NOUN
dem-1049	60	30	premium	premium	NOUN
dem-1049	60	31	(	(	PUNCT
dem-1049	60	32	)	)	PUNCT
dem-1049	60	33	n	n	X
dem-1049	60	34	tθ	tθ	NOUN
dem-1049	60	35	is	be	AUX
dem-1049	60	36	not	not	PART
dem-1049	60	37	time	time	NOUN
dem-1049	60	38	-	-	PUNCT
dem-1049	60	39	varying	vary	VERB
dem-1049	60	40	the	the	DET
dem-1049	60	41	expected	expected	ADJ
dem-1049	60	42	excess	excess	ADJ
dem-1049	60	43	one	one	NUM
dem-1049	60	44	-	-	PUNCT
dem-1049	60	45	period	period	NOUN
dem-1049	60	46	holding	hold	VERB
dem-1049	60	47	period	period	NOUN
dem-1049	60	48	return	return	NOUN
dem-1049	60	49	is	be	AUX
dem-1049	60	50	constant	constant	ADJ
dem-1049	60	51	and	and	CCONJ
dem-1049	60	52	should	should	AUX
dem-1049	60	53	not	not	PART
dem-1049	60	54	depend	depend	VERB
dem-1049	60	55	upon	upon	SCONJ
dem-1049	60	56	its	its	PRON
dem-1049	60	57	past	past	ADJ
dem-1049	60	58	values	value	NOUN
dem-1049	60	59	as	as	ADV
dem-1049	60	60	well	well	ADV
dem-1049	60	61	as	as	ADP
dem-1049	60	62	past	past	ADJ
dem-1049	60	63	values	value	NOUN
dem-1049	60	64	of	of	ADP
dem-1049	60	65	the	the	DET
dem-1049	60	66	actual	actual	ADJ
dem-1049	60	67	spread	spread	NOUN
dem-1049	60	68	and	and	CCONJ
dem-1049	60	69	changes	change	NOUN
dem-1049	60	70	in	in	ADP
dem-1049	60	71	the	the	DET
dem-1049	60	72	future	future	ADJ
dem-1049	60	73	short	short	ADJ
dem-1049	60	74	rate	rate	NOUN
dem-1049	60	75	.	.	PUNCT
dem-1049	61	1	maria	maria	PROPN
dem-1049	61	2	blangiewicz	blangiewicz	PROPN
dem-1049	61	3	,	,	PUNCT
dem-1049	61	4	paweł	paweł	VERB
dem-1049	61	5	miłobędzki	miłobędzki	PROPN
dem-1049	61	6	dynamic	dynamic	ADJ
dem-1049	61	7	econometric	econometric	ADJ
dem-1049	61	8	models	model	NOUN
dem-1049	61	9	12	12	NUM
dem-1049	61	10	(	(	PUNCT
dem-1049	61	11	2012	2012	NUM
dem-1049	61	12	)	)	PUNCT
dem-1049	61	13	5–17	5–17	NOUN
dem-1049	61	14	8	8	NUM
dem-1049	61	15	last	last	ADJ
dem-1049	61	16	but	but	CCONJ
dem-1049	61	17	not	not	PART
dem-1049	61	18	least	least	ADJ
dem-1049	61	19	,	,	PUNCT
dem-1049	61	20	substituting	substitute	VERB
dem-1049	61	21	eq	eq	ADP
dem-1049	61	22	.	.	PUNCT
dem-1049	62	1	(	(	PUNCT
dem-1049	62	2	2	2	NUM
dem-1049	62	3	)	)	PUNCT
dem-1049	62	4	into	into	ADP
dem-1049	62	5	the	the	DET
dem-1049	62	6	unanticipated	unanticipated	ADJ
dem-1049	62	7	change	change	NOUN
dem-1049	62	8	(	(	PUNCT
dem-1049	62	9	‘	'	PUNCT
dem-1049	62	10	surprise	surprise	NOUN
dem-1049	62	11	’	'	PUNCT
dem-1049	62	12	)	)	PUNCT
dem-1049	62	13	in	in	ADP
dem-1049	62	14	the	the	DET
dem-1049	62	15	one	one	NUM
dem-1049	62	16	-	-	PUNCT
dem-1049	62	17	period	period	NOUN
dem-1049	62	18	holding	hold	VERB
dem-1049	62	19	period	period	NOUN
dem-1049	62	20	return	return	NOUN
dem-1049	62	21	,	,	PUNCT
dem-1049	62	22	(	(	PUNCT
dem-1049	62	23	)	)	PUNCT
dem-1049	62	24	(	(	PUNCT
dem-1049	62	25	)	)	PUNCT
dem-1049	62	26	(	(	PUNCT
dem-1049	62	27	)	)	PUNCT
dem-1049	62	28	1	1	NUM
dem-1049	62	29	1	1	NUM
dem-1049	62	30	1	1	NUM
dem-1049	62	31	n	n	CCONJ
dem-1049	62	32	n	n	CCONJ
dem-1049	62	33	n	n	NOUN
dem-1049	62	34	t	t	NOUN
dem-1049	62	35	t	t	PROPN
dem-1049	62	36	t	t	PROPN
dem-1049	62	37	teh	teh	NOUN
dem-1049	62	38	h	h	NOUN
dem-1049	63	1	e	e	X
dem-1049	63	2	h+	h+	X
dem-1049	64	1	+	+	X
dem-1049	64	2	+	+	PROPN
dem-1049	64	3	=	=	NOUN
dem-1049	64	4	−	−	PROPN
dem-1049	64	5	,	,	PUNCT
dem-1049	64	6	gives	give	VERB
dem-1049	64	7	(	(	PUNCT
dem-1049	64	8	tzavalis	tzavalis	NOUN
dem-1049	64	9	,	,	PUNCT
dem-1049	64	10	wickens	wicken	NOUN
dem-1049	64	11	,	,	PUNCT
dem-1049	64	12	1997	1997	NUM
dem-1049	64	13	)	)	PUNCT
dem-1049	64	14	:	:	PUNCT
dem-1049	64	15	(	(	PUNCT
dem-1049	64	16	)	)	PUNCT
dem-1049	64	17	(	(	PUNCT
dem-1049	64	18	)	)	PUNCT
dem-1049	64	19	(	(	PUNCT
dem-1049	64	20	)	)	PUNCT
dem-1049	64	21	(	(	PUNCT
dem-1049	64	22	)	)	PUNCT
dem-1049	64	23	(	(	PUNCT
dem-1049	64	24	)	)	PUNCT
dem-1049	64	25	(	(	PUNCT
dem-1049	64	26	)	)	PUNCT
dem-1049	64	27	(	(	PUNCT
dem-1049	64	28	)	)	SYM
dem-1049	64	29	1	1	NUM
dem-1049	64	30	11	11	NUM
dem-1049	64	31	1	1	NUM
dem-1049	64	32	1	1	NUM
dem-1049	64	33	1	1	NUM
dem-1049	64	34	1	1	NUM
dem-1049	64	35	1	1	NUM
dem-1049	64	36	11	11	NUM
dem-1049	64	37	1	1	NUM
dem-1049	64	38	n	n	ADP
dem-1049	64	39	nn	nn	PROPN
dem-1049	64	40	n	n	ADV
dem-1049	64	41	i	i	PRON
dem-1049	64	42	n	n	VERB
dem-1049	64	43	t	t	PROPN
dem-1049	64	44	t	t	PROPN
dem-1049	64	45	t	t	PROPN
dem-1049	64	46	t	t	PROPN
dem-1049	65	1	i	i	PRON
dem-1049	65	2	t	t	PROPN
dem-1049	66	1	t	t	PROPN
dem-1049	66	2	t	t	PROPN
dem-1049	67	1	i	i	PRON
dem-1049	67	2	t	t	NOUN
dem-1049	67	3	ti	ti	INTJ
dem-1049	67	4	i	i	PRON
dem-1049	67	5	eh	eh	INTJ
dem-1049	67	6	e	e	X
dem-1049	67	7	e	e	NOUN
dem-1049	67	8	r	r	NOUN
dem-1049	67	9	e	e	X
dem-1049	67	10	e	e	X
dem-1049	67	11	er	er	INTJ
dem-1049	67	12	eθ	eθ	ADP
dem-1049	67	13	θ−	θ−	PROPN
dem-1049	67	14	−	−	PROPN
dem-1049	67	15	−	−	PROPN
dem-1049	68	1	+	+	CCONJ
dem-1049	68	2	+	+	PUNCT
dem-1049	69	1	+	+	PUNCT
dem-1049	69	2	+	+	PUNCT
dem-1049	69	3	+	+	PUNCT
dem-1049	69	4	+	+	PUNCT
dem-1049	69	5	+	+	ADJ
dem-1049	69	6	=	=	SYM
dem-1049	69	7	=	=	SYM
dem-1049	69	8			NOUN
dem-1049	69	9	=	=	X
dem-1049	69	10	−	−	PROPN
dem-1049	69	11	−	−	NOUN
dem-1049	69	12	−	−	NOUN
dem-1049	69	13	−	−	PROPN
dem-1049	69	14	=	=	PUNCT
dem-1049	70	1	−	−	PUNCT
dem-1049	71	1	+	+	NOUN
dem-1049	71	2			NUM
dem-1049	71	3	∑	∑	VERB
dem-1049	71	4	∑	∑	PUNCT
dem-1049	71	5	,	,	PUNCT
dem-1049	71	6	(	(	PUNCT
dem-1049	71	7	4	4	NUM
dem-1049	71	8	)	)	PUNCT
dem-1049	71	9	where	where	SCONJ
dem-1049	71	10	(	(	PUNCT
dem-1049	71	11	)	)	PUNCT
dem-1049	71	12	(	(	PUNCT
dem-1049	71	13	)	)	PUNCT
dem-1049	71	14	(	(	PUNCT
dem-1049	71	15	)	)	PUNCT
dem-1049	71	16	11	11	NUM
dem-1049	71	17	1	1	NUM
dem-1049	71	18	1	1	NUM
dem-1049	71	19	1	1	NUM
dem-1049	71	20	1	1	NUM
dem-1049	71	21	n	n	NUM
dem-1049	71	22	t	t	NOUN
dem-1049	71	23	t	t	PROPN
dem-1049	71	24	t	t	PROPN
dem-1049	71	25	t	t	PROPN
dem-1049	71	26	ii	ii	PROPN
dem-1049	71	27	er	er	INTJ
dem-1049	71	28	e	e	X
dem-1049	71	29	e	e	X
dem-1049	71	30	r−	r−	PROPN
dem-1049	71	31	+	+	PROPN
dem-1049	72	1	+	+	PUNCT
dem-1049	72	2	+	+	ADJ
dem-1049	72	3	=	=	SYM
dem-1049	72	4	=	=	SYM
dem-1049	72	5	−	−	PROPN
dem-1049	72	6	∑	∑	PUNCT
dem-1049	72	7	exhibits	exhibit	VERB
dem-1049	72	8	the	the	DET
dem-1049	72	9	‘	'	PUNCT
dem-1049	72	10	news	news	NOUN
dem-1049	72	11	’	'	PUNCT
dem-1049	72	12	about	about	ADP
dem-1049	72	13	future	future	ADJ
dem-1049	72	14	short	short	ADJ
dem-1049	72	15	rates	rate	NOUN
dem-1049	72	16	and	and	CCONJ
dem-1049	72	17	(	(	PUNCT
dem-1049	72	18	)	)	PUNCT
dem-1049	72	19	(	(	PUNCT
dem-1049	72	20	)	)	PUNCT
dem-1049	72	21	(	(	PUNCT
dem-1049	72	22	)	)	SYM
dem-1049	72	23	1	1	NUM
dem-1049	72	24	1	1	NUM
dem-1049	72	25	1	1	NUM
dem-1049	72	26	1	1	NUM
dem-1049	72	27	nn	nn	NUM
dem-1049	72	28	n	n	CCONJ
dem-1049	73	1	i	i	PRON
dem-1049	73	2	t	t	NOUN
dem-1049	74	1	t	t	PROPN
dem-1049	74	2	t	t	PROPN
dem-1049	74	3	t	t	PROPN
dem-1049	74	4	ii	ii	PROPN
dem-1049	74	5	e	e	PROPN
dem-1049	74	6	e	e	X
dem-1049	74	7	eθ	eθ	ADP
dem-1049	74	8	θ−	θ−	PROPN
dem-1049	74	9	−	−	PROPN
dem-1049	75	1	+	+	PROPN
dem-1049	76	1	+	+	PUNCT
dem-1049	76	2	+	+	ADJ
dem-1049	76	3	=	=	SYM
dem-1049	76	4	=	=	SYM
dem-1049	76	5	−	−	PROPN
dem-1049	76	6	∑	∑	PUNCT
dem-1049	76	7	exhibits	exhibit	VERB
dem-1049	76	8	the	the	DET
dem-1049	76	9	‘	'	PUNCT
dem-1049	76	10	news	news	NOUN
dem-1049	76	11	’	'	PUNCT
dem-1049	76	12	about	about	ADP
dem-1049	76	13	future	future	ADJ
dem-1049	76	14	term	term	NOUN
dem-1049	76	15	premia	premia	NOUN
dem-1049	76	16	.	.	PUNCT
dem-1049	77	1	hence	hence	ADV
dem-1049	77	2	,	,	PUNCT
dem-1049	77	3	unanticipated	unanticipated	ADJ
dem-1049	77	4	change	change	NOUN
dem-1049	77	5	in	in	ADP
dem-1049	77	6	the	the	DET
dem-1049	77	7	one	one	NUM
dem-1049	77	8	-	-	PUNCT
dem-1049	77	9	period	period	NOUN
dem-1049	77	10	holding	hold	VERB
dem-1049	77	11	period	period	NOUN
dem-1049	77	12	return	return	NOUN
dem-1049	77	13	must	must	AUX
dem-1049	77	14	be	be	AUX
dem-1049	77	15	due	due	ADJ
dem-1049	77	16	to	to	ADP
dem-1049	77	17	either	either	CCONJ
dem-1049	77	18	a	a	DET
dem-1049	77	19	revision	revision	NOUN
dem-1049	77	20	to	to	ADP
dem-1049	77	21	expectations	expectation	NOUN
dem-1049	77	22	about	about	ADP
dem-1049	77	23	future	future	ADJ
dem-1049	77	24	short	short	ADJ
dem-1049	77	25	rates	rate	NOUN
dem-1049	77	26	or	or	CCONJ
dem-1049	77	27	a	a	DET
dem-1049	77	28	revision	revision	NOUN
dem-1049	77	29	to	to	ADP
dem-1049	77	30	expectations	expectation	NOUN
dem-1049	77	31	about	about	ADP
dem-1049	77	32	future	future	ADJ
dem-1049	77	33	term	term	NOUN
dem-1049	77	34	premia	premia	NOUN
dem-1049	77	35	.	.	PUNCT
dem-1049	78	1	2	2	NUM
dem-1049	78	2	.	.	X
dem-1049	78	3	three	three	NUM
dem-1049	78	4	-	-	PUNCT
dem-1049	78	5	variable	variable	NOUN
dem-1049	78	6	var	var	NOUN
dem-1049	78	7	based	base	VERB
dem-1049	78	8	tests	test	NOUN
dem-1049	78	9	of	of	ADP
dem-1049	78	10	the	the	DET
dem-1049	78	11	eh	eh	INTJ
dem-1049	78	12	the	the	DET
dem-1049	78	13	var	var	NOUN
dem-1049	78	14	based	base	VERB
dem-1049	78	15	tests	test	NOUN
dem-1049	78	16	of	of	ADP
dem-1049	78	17	the	the	DET
dem-1049	78	18	eh	eh	INTJ
dem-1049	78	19	solving	solving	NOUN
dem-1049	78	20	for	for	ADP
dem-1049	78	21	the	the	DET
dem-1049	78	22	time	time	NOUN
dem-1049	78	23	-	-	PUNCT
dem-1049	78	24	varying	vary	VERB
dem-1049	78	25	term	term	NOUN
dem-1049	78	26	premium	premium	NOUN
dem-1049	78	27	hinge	hinge	NOUN
dem-1049	78	28	on	on	ADP
dem-1049	78	29	the	the	DET
dem-1049	78	30	extended	extended	ADJ
dem-1049	78	31	2	2	NUM
dem-1049	78	32	-	-	PUNCT
dem-1049	78	33	variable	variable	ADJ
dem-1049	78	34	var	var	NOUN
dem-1049	78	35	of	of	ADP
dem-1049	78	36	campbell	campbell	PROPN
dem-1049	78	37	and	and	CCONJ
dem-1049	78	38	shiller	shiller	PROPN
dem-1049	78	39	(	(	PUNCT
dem-1049	78	40	1991	1991	NUM
dem-1049	78	41	)	)	PUNCT
dem-1049	78	42	in	in	ADP
dem-1049	78	43	which	which	PRON
dem-1049	78	44	the	the	DET
dem-1049	78	45	yield	yield	NOUN
dem-1049	78	46	spread	spread	VERB
dem-1049	78	47	,	,	PUNCT
dem-1049	78	48	(	(	PUNCT
dem-1049	78	49	)	)	PUNCT
dem-1049	78	50	n	n	X
dem-1049	78	51	ts	ts	ADV
dem-1049	78	52	,	,	PUNCT
dem-1049	78	53	and	and	CCONJ
dem-1049	78	54	the	the	DET
dem-1049	78	55	change	change	NOUN
dem-1049	78	56	in	in	ADP
dem-1049	78	57	the	the	DET
dem-1049	78	58	short	short	ADJ
dem-1049	78	59	rate	rate	NOUN
dem-1049	78	60	,	,	PUNCT
dem-1049	78	61	(	(	PUNCT
dem-1049	78	62	)	)	PUNCT
dem-1049	78	63	1	1	NUM
dem-1049	78	64	tr∆	tr∆	PROPN
dem-1049	78	65	,	,	PUNCT
dem-1049	78	66	are	be	AUX
dem-1049	78	67	supplemented	supplement	VERB
dem-1049	78	68	by	by	ADP
dem-1049	78	69	the	the	DET
dem-1049	78	70	excess	excess	ADJ
dem-1049	78	71	one	one	NUM
dem-1049	78	72	-	-	PUNCT
dem-1049	78	73	period	period	NOUN
dem-1049	78	74	holding	hold	VERB
dem-1049	78	75	period	period	NOUN
dem-1049	78	76	return	return	NOUN
dem-1049	78	77	,	,	PUNCT
dem-1049	78	78	(	(	PUNCT
dem-1049	78	79	)	)	PUNCT
dem-1049	78	80	(	(	PUNCT
dem-1049	78	81	)	)	SYM
dem-1049	78	82	1	1	NUM
dem-1049	78	83	1	1	NUM
dem-1049	78	84	n	n	ADP
dem-1049	78	85	t	t	NOUN
dem-1049	78	86	th	th	X
dem-1049	78	87	r	r	NOUN
dem-1049	78	88	−−	−−	NOUN
dem-1049	78	89	.	.	PUNCT
dem-1049	79	1	such	such	DET
dem-1049	79	2	a	a	DET
dem-1049	79	3	var	var	NOUN
dem-1049	79	4	of	of	ADP
dem-1049	79	5	order	order	NOUN
dem-1049	79	6	p	p	NOUN
dem-1049	79	7	with	with	ADP
dem-1049	79	8	vector	vector	NOUN
dem-1049	79	9	(	(	PUNCT
dem-1049	79	10	)	)	PUNCT
dem-1049	79	11	(	(	PUNCT
dem-1049	79	12	)	)	PUNCT
dem-1049	79	13	(	(	PUNCT
dem-1049	79	14	)	)	PUNCT
dem-1049	79	15	(	(	PUNCT
dem-1049	79	16	)	)	SYM
dem-1049	79	17	1	1	NUM
dem-1049	79	18	1	1	NUM
dem-1049	79	19	*	*	SYM
dem-1049	79	20	1	1	NUM
dem-1049	79	21	n	n	CCONJ
dem-1049	79	22	n	n	NOUN
dem-1049	79	23	t	t	NOUN
dem-1049	79	24	t	t	PROPN
dem-1049	79	25	t	t	PROPN
dem-1049	79	26	t	t	PROPN
dem-1049	79	27	tz	tz	PROPN
dem-1049	79	28	s	s	NOUN
dem-1049	79	29	r	r	NOUN
dem-1049	79	30	h	h	NOUN
dem-1049	79	31	r	r	NOUN
dem-1049	79	32	−	−	NOUN
dem-1049	79	33	′	′	PROPN
dem-1049	79	34	=	=	PUNCT
dem-1049	80	1	∆	∆	PROPN
dem-1049	80	2	−	−	PROPN
dem-1049	81	1			NOUN
dem-1049	81	2	containing	contain	VERB
dem-1049	81	3	stationary	stationary	ADJ
dem-1049	81	4	variables	variable	NOUN
dem-1049	81	5	is	be	AUX
dem-1049	81	6	stacked	stack	VERB
dem-1049	81	7	into	into	ADP
dem-1049	81	8	companion	companion	NOUN
dem-1049	81	9	form	form	NOUN
dem-1049	81	10	as	as	ADP
dem-1049	81	11	a	a	DET
dem-1049	81	12	first	first	ADJ
dem-1049	81	13	order	order	NOUN
dem-1049	81	14	var	var	NOUN
dem-1049	81	15	(	(	PUNCT
dem-1049	81	16	see	see	VERB
dem-1049	81	17	tzavalis	tzavalis	PROPN
dem-1049	81	18	,	,	PUNCT
dem-1049	81	19	wickens	wicken	NOUN
dem-1049	81	20	,	,	PUNCT
dem-1049	81	21	1997	1997	NUM
dem-1049	81	22	;	;	PUNCT
dem-1049	81	23	cuthbertson	cuthbertson	NOUN
dem-1049	81	24	,	,	PUNCT
dem-1049	81	25	bredin	bredin	NOUN
dem-1049	81	26	,	,	PUNCT
dem-1049	81	27	2001	2001	NUM
dem-1049	81	28	;	;	PUNCT
dem-1049	81	29	cuthbertson	cuthbertson	NOUN
dem-1049	81	30	,	,	PUNCT
dem-1049	81	31	nitzsche	nitzsche	NOUN
dem-1049	81	32	,	,	PUNCT
dem-1049	81	33	2003	2003	NUM
dem-1049	81	34	;	;	PUNCT
dem-1049	81	35	blangiewicz	blangiewicz	NOUN
dem-1049	81	36	,	,	PUNCT
dem-1049	81	37	miłobędzki	miłobędzki	PROPN
dem-1049	81	38	,	,	PUNCT
dem-1049	81	39	2008	2008	NUM
dem-1049	81	40	):	):	PUNCT
dem-1049	81	41	1	1	NUM
dem-1049	81	42	,	,	PUNCT
dem-1049	81	43	t	t	PROPN
dem-1049	81	44	t	t	PROPN
dem-1049	81	45	tz	tz	PROPN
dem-1049	81	46	az	az	PROPN
dem-1049	81	47	u−=	u−=	PROPN
dem-1049	81	48	+	+	CCONJ
dem-1049	81	49	(	(	PUNCT
dem-1049	81	50	5	5	NUM
dem-1049	81	51	)	)	PUNCT
dem-1049	81	52	where	where	SCONJ
dem-1049	81	53	a	a	PRON
dem-1049	81	54	is	be	AUX
dem-1049	81	55	a	a	DET
dem-1049	81	56	square	square	ADJ
dem-1049	81	57	(	(	PUNCT
dem-1049	81	58	)	)	PUNCT
dem-1049	81	59	3	3	NUM
dem-1049	81	60	3p	3p	NUM
dem-1049	81	61	p×	p×	NOUN
dem-1049	81	62	matrix	matrix	NOUN
dem-1049	81	63	of	of	ADP
dem-1049	81	64	coefficients	coefficient	NOUN
dem-1049	81	65	,	,	PUNCT
dem-1049	81	66	tz	tz	PROPN
dem-1049	81	67	is	be	AUX
dem-1049	81	68	a	a	DET
dem-1049	81	69	(	(	PUNCT
dem-1049	81	70	)	)	SYM
dem-1049	81	71	3	3	NUM
dem-1049	81	72	1p×	1p×	NUM
dem-1049	81	73	vector	vector	NOUN
dem-1049	81	74	of	of	ADP
dem-1049	81	75	regressors	regressor	NOUN
dem-1049	81	76	like	like	VERB
dem-1049	81	77	(	(	PUNCT
dem-1049	81	78	)	)	PUNCT
dem-1049	81	79	(	(	PUNCT
dem-1049	81	80	)	)	PUNCT
dem-1049	81	81	(	(	PUNCT
dem-1049	81	82	)	)	PUNCT
dem-1049	81	83	(	(	PUNCT
dem-1049	81	84	)	)	PUNCT
dem-1049	81	85	(	(	PUNCT
dem-1049	81	86	)	)	PUNCT
dem-1049	81	87	(	(	PUNCT
dem-1049	81	88	)	)	PUNCT
dem-1049	81	89	(	(	PUNCT
dem-1049	81	90	)	)	PUNCT
dem-1049	81	91	(	(	PUNCT
dem-1049	81	92	)	)	SYM
dem-1049	81	93	1	1	NUM
dem-1049	81	94	1	1	NUM
dem-1049	81	95	1	1	NUM
dem-1049	81	96	1	1	NUM
dem-1049	81	97	1	1	NUM
dem-1049	81	98	1	1	NUM
dem-1049	81	99	n	n	CCONJ
dem-1049	81	100	n	n	CCONJ
dem-1049	81	101	n	n	CCONJ
dem-1049	81	102	n	n	CCONJ
dem-1049	81	103	n	n	CCONJ
dem-1049	81	104	n	n	NOUN
dem-1049	81	105	t	t	NOUN
dem-1049	81	106	t	t	NOUN
dem-1049	81	107	t	t	PROPN
dem-1049	81	108	p	p	PROPN
dem-1049	81	109	t	t	PROPN
dem-1049	81	110	t	t	PROPN
dem-1049	82	1	p	p	PROPN
dem-1049	82	2	t	t	PROPN
dem-1049	82	3	t	t	PROPN
dem-1049	82	4	t	t	PROPN
dem-1049	82	5	p	p	PROPN
dem-1049	82	6	t	t	PROPN
dem-1049	82	7	pz	pz	PROPN
dem-1049	82	8	s	s	PROPN
dem-1049	82	9	s	s	NOUN
dem-1049	82	10	r	r	NOUN
dem-1049	82	11	r	r	NOUN
dem-1049	82	12	h	h	NOUN
dem-1049	82	13	r	r	NOUN
dem-1049	82	14	h	h	NOUN
dem-1049	82	15	r−	r−	PROPN
dem-1049	82	16	+	+	CCONJ
dem-1049	82	17	−	−	PROPN
dem-1049	83	1	+	+	CCONJ
dem-1049	83	2	−	−	PROPN
dem-1049	83	3	−	−	PROPN
dem-1049	84	1	+	+	CCONJ
dem-1049	84	2	−	−	PROPN
dem-1049	84	3	′	′	PROPN
dem-1049	84	4	=	=	PUNCT
dem-1049	84	5	∆	∆	PROPN
dem-1049	84	6	∆	∆	X
dem-1049	85	1	−	−	PROPN
dem-1049	85	2	−	−	PROPN
dem-1049	85	3			NOUN
dem-1049	85	4			NUM
dem-1049	85	5			NOUN
dem-1049	85	6	,	,	PUNCT
dem-1049	85	7	and	and	CCONJ
dem-1049	85	8	tu	tu	PROPN
dem-1049	85	9	is	be	AUX
dem-1049	85	10	a	a	DET
dem-1049	85	11	(	(	PUNCT
dem-1049	85	12	)	)	SYM
dem-1049	85	13	3	3	NUM
dem-1049	85	14	1p×	1p×	NUM
dem-1049	85	15	vector	vector	NOUN
dem-1049	85	16	of	of	ADP
dem-1049	85	17	errors	error	NOUN
dem-1049	85	18	.	.	PUNCT
dem-1049	86	1	variables	variable	NOUN
dem-1049	86	2	included	include	VERB
dem-1049	86	3	in	in	ADP
dem-1049	86	4	the	the	DET
dem-1049	86	5	var	var	NOUN
dem-1049	86	6	can	can	AUX
dem-1049	86	7	be	be	AUX
dem-1049	86	8	picked	pick	VERB
dem-1049	86	9	up	up	ADP
dem-1049	86	10	from	from	ADP
dem-1049	86	11	the	the	DET
dem-1049	86	12	system	system	NOUN
dem-1049	86	13	using	use	VERB
dem-1049	86	14	(	(	PUNCT
dem-1049	86	15	)	)	PUNCT
dem-1049	86	16	3	3	NUM
dem-1049	86	17	1p×	1p×	NUM
dem-1049	86	18	selection	selection	NOUN
dem-1049	86	19	vectors	vector	NOUN
dem-1049	86	20	1e	1e	NOUN
dem-1049	86	21	′	′	NUM
dem-1049	86	22	,	,	PUNCT
dem-1049	86	23	2e	2e	NUM
dem-1049	86	24	′	′	NOUN
dem-1049	86	25	and	and	CCONJ
dem-1049	86	26	3e	3e	NUM
dem-1049	86	27	′	′	NUM
dem-1049	87	1	with	with	ADP
dem-1049	87	2	unity	unity	NOUN
dem-1049	87	3	in	in	ADP
dem-1049	87	4	the	the	DET
dem-1049	87	5	first	first	ADJ
dem-1049	87	6	,	,	PUNCT
dem-1049	87	7	second	second	ADJ
dem-1049	87	8	and	and	CCONJ
dem-1049	87	9	third	third	ADJ
dem-1049	87	10	row	row	NOUN
dem-1049	87	11	,	,	PUNCT
dem-1049	87	12	respectively	respectively	ADV
dem-1049	87	13	,	,	PUNCT
dem-1049	87	14	and	and	CCONJ
dem-1049	87	15	zeros	zero	NOUN
dem-1049	87	16	elsewhere	elsewhere	ADV
dem-1049	88	1	so	so	SCONJ
dem-1049	88	2	that	that	SCONJ
dem-1049	88	3	(	(	PUNCT
dem-1049	88	4	)	)	PUNCT
dem-1049	88	5	1n	1n	NOUN
dem-1049	88	6	t	t	NOUN
dem-1049	88	7	ts	ts	X
dem-1049	88	8	e	e	PROPN
dem-1049	88	9	z′=	z′=	NOUN
dem-1049	88	10	,	,	PUNCT
dem-1049	88	11	(	(	PUNCT
dem-1049	88	12	)	)	PUNCT
dem-1049	88	13	1	1	NUM
dem-1049	88	14	2	2	NUM
dem-1049	88	15	t	t	PRON
dem-1049	88	16	tr	tr	NOUN
dem-1049	88	17	e	e	NOUN
dem-1049	88	18	z′∆	z′∆	NOUN
dem-1049	88	19	=	=	PRON
dem-1049	88	20	and	and	CCONJ
dem-1049	88	21	(	(	PUNCT
dem-1049	88	22	)	)	PUNCT
dem-1049	88	23	(	(	PUNCT
dem-1049	88	24	)	)	SYM
dem-1049	88	25	1	1	NUM
dem-1049	88	26	1	1	NUM
dem-1049	88	27	3n	3n	NUM
dem-1049	88	28	t	t	NOUN
dem-1049	88	29	t	t	NOUN
dem-1049	88	30	th	th	X
dem-1049	88	31	r	r	NOUN
dem-1049	88	32	e	e	X
dem-1049	88	33	z−	z−	NOUN
dem-1049	88	34	′−	′−	PROPN
dem-1049	88	35	=	=	PUNCT
dem-1049	88	36	.	.	PUNCT
dem-1049	89	1	their	their	PRON
dem-1049	89	2	predictions	prediction	NOUN
dem-1049	89	3	from	from	ADP
dem-1049	89	4	the	the	DET
dem-1049	89	5	var	var	NOUN
dem-1049	89	6	can	can	AUX
dem-1049	89	7	be	be	AUX
dem-1049	89	8	computed	compute	VERB
dem-1049	89	9	throughout	throughout	ADP
dem-1049	89	10	the	the	DET
dem-1049	89	11	chain	chain	NOUN
dem-1049	89	12	rule	rule	NOUN
dem-1049	89	13	of	of	ADP
dem-1049	89	14	forecasting	forecasting	NOUN
dem-1049	89	15	as	as	ADP
dem-1049	89	16	:	:	PUNCT
dem-1049	89	17	(	(	PUNCT
dem-1049	89	18	)	)	PUNCT
dem-1049	89	19	|	|	ADV
dem-1049	90	1	k	k	PROPN
dem-1049	90	2	t	t	PROPN
dem-1049	91	1	k	k	PROPN
dem-1049	91	2	t	t	PROPN
dem-1049	91	3	te	te	PROPN
dem-1049	91	4	z	z	PROPN
dem-1049	91	5	z	z	PROPN
dem-1049	92	1	a	a	DET
dem-1049	92	2	z+	z+	NUM
dem-1049	92	3	=	=	PUNCT
dem-1049	92	4	.	.	PUNCT
dem-1049	93	1	(	(	PUNCT
dem-1049	93	2	6	6	X
dem-1049	93	3	)	)	PUNCT
dem-1049	93	4	the	the	DET
dem-1049	93	5	tests	test	NOUN
dem-1049	93	6	of	of	ADP
dem-1049	93	7	interest	interest	NOUN
dem-1049	93	8	verify	verify	VERB
dem-1049	93	9	whether	whether	SCONJ
dem-1049	93	10	the	the	DET
dem-1049	93	11	excess	excess	ADJ
dem-1049	93	12	one	one	NUM
dem-1049	93	13	-	-	PUNCT
dem-1049	93	14	period	period	NOUN
dem-1049	93	15	holding	hold	VERB
dem-1049	93	16	period	period	NOUN
dem-1049	93	17	return	return	NOUN
dem-1049	93	18	is	be	AUX
dem-1049	93	19	not	not	PART
dem-1049	93	20	time	time	NOUN
dem-1049	93	21	-	-	PUNCT
dem-1049	93	22	varying	vary	VERB
dem-1049	93	23	,	,	PUNCT
dem-1049	93	24	what	what	PRON
dem-1049	93	25	the	the	DET
dem-1049	93	26	sources	source	NOUN
dem-1049	93	27	of	of	ADP
dem-1049	93	28	‘	'	PUNCT
dem-1049	93	29	surprise	surprise	NOUN
dem-1049	93	30	’	'	PUNCT
dem-1049	93	31	in	in	ADP
dem-1049	93	32	its	its	PRON
dem-1049	93	33	performance	performance	NOUN
dem-1049	93	34	are	be	AUX
dem-1049	93	35	(	(	PUNCT
dem-1049	93	36	if	if	SCONJ
dem-1049	93	37	there	there	PRON
dem-1049	93	38	are	be	VERB
dem-1049	93	39	any	any	PRON
dem-1049	93	40	)	)	PUNCT
dem-1049	93	41	,	,	PUNCT
dem-1049	93	42	as	as	ADV
dem-1049	93	43	well	well	ADV
dem-1049	93	44	as	as	ADP
dem-1049	93	45	whether	whether	SCONJ
dem-1049	93	46	long	long	ADJ
dem-1049	93	47	rates	rate	NOUN
dem-1049	93	48	properly	properly	ADV
dem-1049	93	49	react	react	VERB
dem-1049	93	50	to	to	ADP
dem-1049	93	51	current	current	ADJ
dem-1049	93	52	information	information	NOUN
dem-1049	93	53	about	about	ADP
dem-1049	93	54	future	future	ADJ
dem-1049	93	55	short	short	ADJ
dem-1049	93	56	rates	rate	NOUN
dem-1049	93	57	.	.	PUNCT
dem-1049	94	1	construction	construction	NOUN
dem-1049	94	2	of	of	ADP
dem-1049	94	3	the	the	DET
dem-1049	94	4	appropriate	appropriate	ADJ
dem-1049	94	5	test	test	NOUN
dem-1049	94	6	statistics	statistic	NOUN
dem-1049	94	7	is	be	AUX
dem-1049	94	8	based	base	VERB
dem-1049	94	9	on	on	ADP
dem-1049	94	10	the	the	DET
dem-1049	94	11	assumption	assumption	NOUN
dem-1049	94	12	that	that	SCONJ
dem-1049	94	13	predictions	prediction	NOUN
dem-1049	94	14	from	from	ADP
dem-1049	94	15	the	the	DET
dem-1049	94	16	var	var	NOUN
dem-1049	94	17	system	system	NOUN
dem-1049	94	18	are	be	AUX
dem-1049	94	19	adequate	adequate	ADJ
dem-1049	94	20	.	.	PUNCT
dem-1049	95	1	the	the	DET
dem-1049	95	2	expectations	expectation	NOUN
dem-1049	95	3	hypothesis	hypothesis	NOUN
dem-1049	95	4	of	of	ADP
dem-1049	95	5	the	the	DET
dem-1049	95	6	term	term	NOUN
dem-1049	95	7	structure	structure	NOUN
dem-1049	95	8	of	of	ADP
dem-1049	95	9	libor	libor	PROPN
dem-1049	95	10	us	us	PROPN
dem-1049	95	11	dollar	dollar	NOUN
dem-1049	95	12	interest	interest	NOUN
dem-1049	95	13	rates	rate	NOUN
dem-1049	95	14	dynamic	dynamic	ADJ
dem-1049	95	15	econometric	econometric	ADJ
dem-1049	95	16	models	model	NOUN
dem-1049	95	17	12	12	NUM
dem-1049	95	18	(	(	PUNCT
dem-1049	95	19	2012	2012	NUM
dem-1049	95	20	)	)	PUNCT
dem-1049	95	21	5–17	5–17	NOUN
dem-1049	95	22	9	9	NUM
dem-1049	95	23	the	the	DET
dem-1049	95	24	prediction	prediction	NOUN
dem-1049	95	25	of	of	ADP
dem-1049	95	26	the	the	DET
dem-1049	95	27	expected	expect	VERB
dem-1049	95	28	excess	excess	ADJ
dem-1049	95	29	one	one	NUM
dem-1049	95	30	-	-	PUNCT
dem-1049	95	31	period	period	NOUN
dem-1049	95	32	holding	hold	VERB
dem-1049	95	33	period	period	NOUN
dem-1049	95	34	return	return	NOUN
dem-1049	95	35	from	from	ADP
dem-1049	95	36	the	the	DET
dem-1049	95	37	var	var	NOUN
dem-1049	95	38	is	be	AUX
dem-1049	95	39	(	(	PUNCT
dem-1049	95	40	)	)	PUNCT
dem-1049	95	41	(	(	PUNCT
dem-1049	95	42	)	)	SYM
dem-1049	95	43	1	1	NUM
dem-1049	95	44	1	1	NUM
dem-1049	95	45	13	13	NUM
dem-1049	95	46	3n	3n	NUM
dem-1049	95	47	t	t	NOUN
dem-1049	95	48	t	t	PROPN
dem-1049	95	49	t	t	PROPN
dem-1049	95	50	t	t	X
dem-1049	95	51	te	te	INTJ
dem-1049	95	52	h	h	NOUN
dem-1049	95	53	r	r	NOUN
dem-1049	95	54	e	e	PROPN
dem-1049	95	55	z	z	NOUN
dem-1049	95	56	e	e	NOUN
dem-1049	95	57	az+	az+	NOUN
dem-1049	96	1	+	+	NOUN
dem-1049	96	2	′	′	ADJ
dem-1049	96	3	′−	′−	NOUN
dem-1049	96	4	=	=	PUNCT
dem-1049	96	5	=	=	PUNCT
dem-1049	96	6	which	which	PRON
dem-1049	96	7	in	in	ADP
dem-1049	96	8	the	the	DET
dem-1049	96	9	case	case	NOUN
dem-1049	96	10	of	of	ADP
dem-1049	96	11	time	time	NOUN
dem-1049	96	12	-	-	PUNCT
dem-1049	96	13	invariant	invariant	ADJ
dem-1049	96	14	term	term	NOUN
dem-1049	96	15	premium	premium	NOUN
dem-1049	96	16	should	should	AUX
dem-1049	96	17	equal	equal	VERB
dem-1049	96	18	to	to	ADP
dem-1049	96	19	some	some	DET
dem-1049	96	20	constant	constant	ADJ
dem-1049	96	21	.	.	PUNCT
dem-1049	97	1	in	in	ADP
dem-1049	97	2	terms	term	NOUN
dem-1049	97	3	of	of	ADP
dem-1049	97	4	the	the	DET
dem-1049	97	5	var	var	NOUN
dem-1049	97	6	with	with	ADP
dem-1049	97	7	demeaned	demeaned	ADJ
dem-1049	97	8	variables	variable	NOUN
dem-1049	97	9	it	it	PRON
dem-1049	97	10	requires	require	VERB
dem-1049	97	11	a	a	DET
dem-1049	97	12	set	set	NOUN
dem-1049	97	13	consisted	consist	VERB
dem-1049	97	14	of	of	ADP
dem-1049	97	15	3p	3p	NUM
dem-1049	97	16	linear	linear	NOUN
dem-1049	97	17	restrictions	restriction	NOUN
dem-1049	97	18	be	be	VERB
dem-1049	97	19	such	such	ADJ
dem-1049	97	20	that	that	SCONJ
dem-1049	97	21	3	3	NUM
dem-1049	97	22	0e	0e	NOUN
dem-1049	97	23	a′	a′	PROPN
dem-1049	98	1	=	=	SYM
dem-1049	98	2	.	.	PUNCT
dem-1049	99	1	this	this	PRON
dem-1049	99	2	is	be	AUX
dem-1049	99	3	tested	test	VERB
dem-1049	99	4	with	with	ADP
dem-1049	99	5	the	the	DET
dem-1049	99	6	use	use	NOUN
dem-1049	99	7	of	of	ADP
dem-1049	99	8	a	a	DET
dem-1049	99	9	wald	wald	NOUN
dem-1049	99	10	test	test	NOUN
dem-1049	99	11	.	.	PUNCT
dem-1049	100	1	under	under	ADP
dem-1049	100	2	the	the	DET
dem-1049	100	3	null	null	NOUN
dem-1049	100	4	the	the	DET
dem-1049	100	5	relevant	relevant	ADJ
dem-1049	100	6	test	test	NOUN
dem-1049	100	7	statistics	statistic	NOUN
dem-1049	100	8	is	be	AUX
dem-1049	100	9	distributed	distribute	VERB
dem-1049	100	10	as	as	ADP
dem-1049	100	11	2χ	2χ	NUM
dem-1049	100	12	variable	variable	NOUN
dem-1049	100	13	with	with	ADP
dem-1049	100	14	3p	3p	NUM
dem-1049	100	15	degrees	degree	NOUN
dem-1049	100	16	of	of	ADP
dem-1049	100	17	freedom	freedom	NOUN
dem-1049	100	18	.	.	PUNCT
dem-1049	101	1	the	the	DET
dem-1049	101	2	prediction	prediction	NOUN
dem-1049	101	3	of	of	ADP
dem-1049	101	4	the	the	DET
dem-1049	101	5	yield	yield	NOUN
dem-1049	101	6	spread	spread	VERB
dem-1049	101	7	from	from	ADP
dem-1049	101	8	the	the	DET
dem-1049	101	9	var	var	NOUN
dem-1049	101	10	(	(	PUNCT
dem-1049	101	11	‘	'	PUNCT
dem-1049	101	12	theoretical	theoretical	ADJ
dem-1049	101	13	spread	spread	NOUN
dem-1049	101	14	’	'	PUNCT
dem-1049	101	15	)	)	PUNCT
dem-1049	101	16	is	be	AUX
dem-1049	101	17	(	(	PUNCT
dem-1049	101	18	cuthbertson	cuthbertson	NOUN
dem-1049	101	19	et	et	PROPN
dem-1049	101	20	al	al	PROPN
dem-1049	101	21	.	.	PROPN
dem-1049	101	22	,	,	PUNCT
dem-1049	101	23	2000	2000	NUM
dem-1049	101	24	)	)	PUNCT
dem-1049	101	25	:	:	PUNCT
dem-1049	101	26	(	(	PUNCT
dem-1049	101	27	)	)	PUNCT
dem-1049	101	28	(	(	PUNCT
dem-1049	101	29	)	)	PUNCT
dem-1049	101	30	(	(	PUNCT
dem-1049	101	31	)	)	PUNCT
dem-1049	101	32	1	1	X
dem-1049	101	33	*	*	SYM
dem-1049	101	34	1	1	NUM
dem-1049	101	35	1	1	NUM
dem-1049	101	36	1	1	NUM
dem-1049	101	37	2nn	2nn	NOUN
dem-1049	101	38	t	t	PROPN
dem-1049	101	39	t	t	NOUN
dem-1049	101	40	t	t	NOUN
dem-1049	102	1	i	i	PRON
dem-1049	102	2	ti	ti	NOUN
dem-1049	102	3	s	s	PART
dem-1049	102	4	e	e	NOUN
dem-1049	102	5	i	i	NOUN
dem-1049	102	6	n	n	VERB
dem-1049	102	7	r	r	NOUN
dem-1049	102	8	e	e	X
dem-1049	102	9	z−	z−	X
dem-1049	103	1	+	+	PROPN
dem-1049	103	2	=	=	PROPN
dem-1049	103	3	′=	′=	NOUN
dem-1049	103	4	−	−	PROPN
dem-1049	103	5	∆	∆	PROPN
dem-1049	104	1	=	=	PUNCT
dem-1049	104	2	λ∑	λ∑	PROPN
dem-1049	104	3	,	,	PUNCT
dem-1049	104	4	(	(	PUNCT
dem-1049	104	5	7	7	X
dem-1049	104	6	)	)	PUNCT
dem-1049	104	7	where	where	SCONJ
dem-1049	104	8	(	(	PUNCT
dem-1049	104	9	)	)	PUNCT
dem-1049	104	10	(	(	PUNCT
dem-1049	104	11	)	)	PUNCT
dem-1049	104	12	(	(	PUNCT
dem-1049	104	13	)	)	PUNCT
dem-1049	104	14	(	(	PUNCT
dem-1049	104	15	)	)	SYM
dem-1049	104	16	1	1	NUM
dem-1049	104	17	11	11	NUM
dem-1049	104	18	na	na	NOUN
dem-1049	105	1	i	i	PRON
dem-1049	106	1	n	n	VERB
dem-1049	107	1	i	i	PRON
dem-1049	107	2	a	a	X
dem-1049	107	3	i	i	PRON
dem-1049	108	1	a	a	DET
dem-1049	108	2	i	i	NOUN
dem-1049	108	3	a−	a−	PROPN
dem-1049	108	4	−	−	NOUN
dem-1049	108	5	λ	λ	NOUN
dem-1049	108	6	=	=	PUNCT
dem-1049	108	7	−	−	NOUN
dem-1049	109	1	−	−	NOUN
dem-1049	109	2	−	−	PROPN
dem-1049	109	3	−	−	PROPN
dem-1049	109	4			PROPN
dem-1049	109	5	.	.	PUNCT
dem-1049	110	1	it	it	PRON
dem-1049	110	2	should	should	AUX
dem-1049	110	3	track	track	VERB
dem-1049	110	4	the	the	DET
dem-1049	110	5	actual	actual	ADJ
dem-1049	110	6	spread	spread	NOUN
dem-1049	110	7	,	,	PUNCT
dem-1049	110	8	(	(	PUNCT
dem-1049	110	9	)	)	PUNCT
dem-1049	110	10	1n	1n	NOUN
dem-1049	110	11	t	t	NOUN
dem-1049	110	12	ts	ts	X
dem-1049	110	13	e	e	PROPN
dem-1049	110	14	z′=	z′=	NOUN
dem-1049	110	15	,	,	PUNCT
dem-1049	110	16	provided	provide	VERB
dem-1049	110	17	expectations	expectation	NOUN
dem-1049	110	18	about	about	ADP
dem-1049	110	19	the	the	DET
dem-1049	110	20	future	future	ADJ
dem-1049	110	21	term	term	NOUN
dem-1049	110	22	premia	premia	NOUN
dem-1049	110	23	,	,	PUNCT
dem-1049	110	24	(	(	PUNCT
dem-1049	110	25	)	)	PUNCT
dem-1049	111	1	n	n	CCONJ
dem-1049	112	1	i	i	PRON
dem-1049	112	2	t	t	PROPN
dem-1049	112	3	t	t	PROPN
dem-1049	112	4	ieθ	ieθ	PROPN
dem-1049	112	5	−	−	PROPN
dem-1049	113	1	+	+	CCONJ
dem-1049	113	2	,	,	PUNCT
dem-1049	113	3	are	be	AUX
dem-1049	113	4	constant	constant	ADJ
dem-1049	113	5	over	over	ADP
dem-1049	113	6	time	time	NOUN
dem-1049	113	7	.	.	PUNCT
dem-1049	114	1	in	in	ADP
dem-1049	114	2	such	such	ADJ
dem-1049	114	3	circumstances	circumstance	NOUN
dem-1049	114	4	it	it	PRON
dem-1049	114	5	is	be	AUX
dem-1049	114	6	expected	expect	VERB
dem-1049	114	7	that	that	SCONJ
dem-1049	114	8	(	(	PUNCT
dem-1049	114	9	)	)	PUNCT
dem-1049	114	10	(	(	PUNCT
dem-1049	114	11	)	)	PUNCT
dem-1049	114	12	*	*	PUNCT
dem-1049	114	13	n	n	PROPN
dem-1049	114	14	n	n	PRON
dem-1049	114	15	t	t	NOUN
dem-1049	114	16	ts	ts	X
dem-1049	114	17	s=	s=	PROPN
dem-1049	114	18	,	,	PUNCT
dem-1049	114	19	which	which	PRON
dem-1049	114	20	implies	imply	VERB
dem-1049	114	21	the	the	DET
dem-1049	114	22	following	follow	VERB
dem-1049	114	23	set	set	NOUN
dem-1049	114	24	of	of	ADP
dem-1049	114	25	var	var	NOUN
dem-1049	114	26	metrics	metric	NOUN
dem-1049	114	27	:	:	PUNCT
dem-1049	114	28	1	1	NUM
dem-1049	114	29	'	'	NUM
dem-1049	114	30	2	2	NUM
dem-1049	114	31	'	'	PART
dem-1049	114	32	0e	0e	NOUN
dem-1049	114	33	e−	e−	PROPN
dem-1049	114	34	λ	λ	PROPN
dem-1049	114	35	=	=	PRON
dem-1049	114	36	,	,	PUNCT
dem-1049	114	37	(	(	PUNCT
dem-1049	114	38	8)	8)	NUM
dem-1049	114	39	(	(	PUNCT
dem-1049	114	40	)	)	PUNCT
dem-1049	114	41	(	(	PUNCT
dem-1049	114	42	)	)	PUNCT
dem-1049	114	43	*	*	SYM
dem-1049	114	44	2	2	NUM
dem-1049	114	45	2	2	NUM
dem-1049	114	46	1n	1n	NUM
dem-1049	114	47	n	n	NUM
dem-1049	114	48	t	t	NOUN
dem-1049	114	49	tvr	tvr	NOUN
dem-1049	114	50	s	s	PART
dem-1049	114	51	sσ	sσ	NOUN
dem-1049	114	52	σ	σ	PUNCT
dem-1049	114	53			PROPN
dem-1049	114	54			NOUN
dem-1049	114	55	=	=	PUNCT
dem-1049	114	56	=	=	NOUN
dem-1049	114	57			NUM
dem-1049	114	58			NOUN
dem-1049	114	59			NOUN
dem-1049	114	60			NOUN
dem-1049	114	61	.	.	PUNCT
dem-1049	115	1	(	(	PUNCT
dem-1049	115	2	9	9	NUM
dem-1049	115	3	)	)	PUNCT
dem-1049	115	4	(	(	PUNCT
dem-1049	115	5	)	)	PUNCT
dem-1049	115	6	(	(	PUNCT
dem-1049	115	7	)	)	PUNCT
dem-1049	115	8	*	*	PUNCT
dem-1049	115	9	,	,	PUNCT
dem-1049	115	10	1n	1n	NUM
dem-1049	115	11	n	n	PRON
dem-1049	115	12	t	t	NOUN
dem-1049	115	13	tcorr	tcorr	NOUN
dem-1049	115	14	s	s	PROPN
dem-1049	115	15	sρ	sρ	ADP
dem-1049	115	16			NOUN
dem-1049	115	17	=	=	X
dem-1049	115	18	=	=	SYM
dem-1049	115	19			NOUN
dem-1049	115	20			NUM
dem-1049	115	21	,	,	PUNCT
dem-1049	115	22	(	(	PUNCT
dem-1049	115	23	10	10	NUM
dem-1049	115	24	)	)	PUNCT
dem-1049	115	25	where	where	SCONJ
dem-1049	115	26	vr	vr	PROPN
dem-1049	115	27	and	and	CCONJ
dem-1049	115	28	ρ	ρ	PROPN
dem-1049	115	29	stand	stand	NOUN
dem-1049	115	30	for	for	ADP
dem-1049	115	31	a	a	DET
dem-1049	115	32	variance	variance	NOUN
dem-1049	115	33	ratio	ratio	NOUN
dem-1049	115	34	and	and	CCONJ
dem-1049	115	35	a	a	DET
dem-1049	115	36	correlation	correlation	NOUN
dem-1049	115	37	coefficient	coefficient	NOUN
dem-1049	115	38	,	,	PUNCT
dem-1049	115	39	respectively	respectively	ADV
dem-1049	115	40	.	.	PUNCT
dem-1049	116	1	the	the	DET
dem-1049	116	2	set	set	NOUN
dem-1049	116	3	of	of	ADP
dem-1049	116	4	nonlinear	nonlinear	ADJ
dem-1049	116	5	cross	cross	ADJ
dem-1049	116	6	-	-	ADJ
dem-1049	116	7	equation	equation	ADJ
dem-1049	116	8	restrictions	restriction	NOUN
dem-1049	116	9	from	from	ADP
dem-1049	116	10	eq	eq	ADP
dem-1049	116	11	.	.	PUNCT
dem-1049	117	1	(	(	PUNCT
dem-1049	117	2	8)	8)	NUM
dem-1049	117	3	can	can	AUX
dem-1049	117	4	be	be	AUX
dem-1049	117	5	tested	test	VERB
dem-1049	117	6	for	for	ADP
dem-1049	117	7	with	with	ADP
dem-1049	117	8	the	the	DET
dem-1049	117	9	use	use	NOUN
dem-1049	117	10	of	of	ADP
dem-1049	117	11	a	a	DET
dem-1049	117	12	wald	wald	NOUN
dem-1049	117	13	test	test	NOUN
dem-1049	117	14	.	.	PUNCT
dem-1049	118	1	the	the	DET
dem-1049	118	2	relevant	relevant	ADJ
dem-1049	118	3	test	test	NOUN
dem-1049	118	4	statistics	statistic	NOUN
dem-1049	118	5	is	be	AUX
dem-1049	118	6	:	:	PUNCT
dem-1049	118	7	1	1	NUM
dem-1049	118	8	(	(	PUNCT
dem-1049	118	9	)	)	PUNCT
dem-1049	118	10	(	(	PUNCT
dem-1049	118	11	)	)	PUNCT
dem-1049	118	12	ˆ	ˆ	X
dem-1049	118	13	(	(	PUNCT
dem-1049	118	14	)	)	PUNCT
dem-1049	119	1	(	(	PUNCT
dem-1049	119	2	)	)	PUNCT
dem-1049	119	3	aa	aa	INTJ
dem-1049	119	4	f	f	PROPN
dem-1049	120	1	a	a	DET
dem-1049	120	2	f	f	X
dem-1049	121	1	aw	aw	INTJ
dem-1049	121	2	f	f	PROPN
dem-1049	121	3	a	a	DET
dem-1049	121	4	f	f	X
dem-1049	121	5	a	a	DET
dem-1049	121	6	a	a	DET
dem-1049	121	7	a	a	DET
dem-1049	121	8	−∂	−∂	PROPN
dem-1049	121	9	∂	∂	NOUN
dem-1049	121	10	′=	′=	VERB
dem-1049	121	11	×	×	PROPN
dem-1049	121	12	σ	σ	X
dem-1049	121	13	×	×	X
dem-1049	121	14	′∂	′∂	NUM
dem-1049	121	15	∂	∂	NOUN
dem-1049	121	16			PROPN
dem-1049	121	17	,	,	PUNCT
dem-1049	121	18	(	(	PUNCT
dem-1049	121	19	11	11	NUM
dem-1049	121	20	)	)	PUNCT
dem-1049	121	21	where	where	SCONJ
dem-1049	121	22	(	(	PUNCT
dem-1049	121	23	)	)	PUNCT
dem-1049	121	24	1	1	NUM
dem-1049	121	25	'	'	NUM
dem-1049	121	26	2	2	NUM
dem-1049	121	27	'	'	PART
dem-1049	121	28	0f	0f	NOUN
dem-1049	121	29	a	a	DET
dem-1049	121	30	e	e	NOUN
dem-1049	121	31	e=	e=	X
dem-1049	121	32	−	−	PROPN
dem-1049	121	33	λ	λ	PROPN
dem-1049	121	34	=	=	PUNCT
dem-1049	121	35	and	and	CCONJ
dem-1049	121	36	ˆ	ˆ	NOUN
dem-1049	121	37	aaς	aaς	VERB
dem-1049	121	38	is	be	AUX
dem-1049	121	39	either	either	CCONJ
dem-1049	121	40	the	the	DET
dem-1049	121	41	standard	standard	NOUN
dem-1049	121	42	or	or	CCONJ
dem-1049	121	43	the	the	DET
dem-1049	121	44	eicker	eicker	ADJ
dem-1049	121	45	-	-	PUNCT
dem-1049	121	46	white	white	ADJ
dem-1049	121	47	heteroscedasticity	heteroscedasticity	PROPN
dem-1049	121	48	consistent	consistent	ADJ
dem-1049	121	49	variance	variance	NOUN
dem-1049	121	50	-	-	PUNCT
dem-1049	121	51	covariance	covariance	NOUN
dem-1049	121	52	matrix	matrix	NOUN
dem-1049	121	53	of	of	ADP
dem-1049	121	54	var	var	NOUN
dem-1049	121	55	parameters	parameter	NOUN
dem-1049	121	56	estimator	estimator	NOUN
dem-1049	121	57	.	.	PUNCT
dem-1049	122	1	under	under	ADP
dem-1049	122	2	the	the	DET
dem-1049	122	3	null	null	NOUN
dem-1049	122	4	(	(	PUNCT
dem-1049	122	5	and	and	CCONJ
dem-1049	122	6	standard	standard	ADJ
dem-1049	122	7	properties	property	NOUN
dem-1049	122	8	of	of	ADP
dem-1049	122	9	error	error	NOUN
dem-1049	122	10	term	term	NOUN
dem-1049	122	11	tu	tu	PROPN
dem-1049	122	12	)	)	PUNCT
dem-1049	123	1	it	it	PRON
dem-1049	123	2	is	be	AUX
dem-1049	123	3	distributed	distribute	VERB
dem-1049	123	4	as	as	ADP
dem-1049	123	5	the	the	DET
dem-1049	123	6	2χ	2χ	NOUN
dem-1049	123	7	variable	variable	NOUN
dem-1049	123	8	with	with	ADP
dem-1049	123	9	3p	3p	NUM
dem-1049	123	10	degrees	degree	NOUN
dem-1049	123	11	of	of	ADP
dem-1049	123	12	freedom	freedom	NOUN
dem-1049	123	13	.	.	PUNCT
dem-1049	124	1	to	to	PART
dem-1049	124	2	proceed	proceed	VERB
dem-1049	124	3	with	with	ADP
dem-1049	124	4	the	the	DET
dem-1049	124	5	metrics	metric	NOUN
dem-1049	124	6	contained	contain	VERB
dem-1049	124	7	in	in	ADP
dem-1049	124	8	eq	eq	ADP
dem-1049	124	9	.	.	PUNCT
dem-1049	125	1	(	(	PUNCT
dem-1049	125	2	9	9	NUM
dem-1049	125	3	)	)	PUNCT
dem-1049	125	4	and	and	CCONJ
dem-1049	125	5	(	(	PUNCT
dem-1049	125	6	10	10	NUM
dem-1049	125	7	)	)	PUNCT
dem-1049	125	8	it	it	PRON
dem-1049	125	9	is	be	AUX
dem-1049	125	10	worth	worth	ADJ
dem-1049	125	11	noting	note	VERB
dem-1049	125	12	that	that	SCONJ
dem-1049	125	13	under	under	ADP
dem-1049	125	14	the	the	DET
dem-1049	125	15	peh	peh	NOUN
dem-1049	125	16	the	the	DET
dem-1049	125	17	series	series	NOUN
dem-1049	125	18	of	of	ADP
dem-1049	125	19	theoretical	theoretical	ADJ
dem-1049	125	20	and	and	CCONJ
dem-1049	125	21	actual	actual	ADJ
dem-1049	125	22	spread	spread	NOUN
dem-1049	125	23	should	should	AUX
dem-1049	125	24	move	move	VERB
dem-1049	125	25	together	together	ADV
dem-1049	125	26	.	.	PUNCT
dem-1049	126	1	a	a	DET
dem-1049	126	2	high	high	ADJ
dem-1049	126	3	degree	degree	NOUN
dem-1049	126	4	of	of	ADP
dem-1049	126	5	co	co	NOUN
dem-1049	126	6	-	-	NOUN
dem-1049	126	7	movement	movement	NOUN
dem-1049	126	8	indicates	indicate	VERB
dem-1049	126	9	that	that	SCONJ
dem-1049	126	10	variation	variation	NOUN
dem-1049	126	11	in	in	ADP
dem-1049	126	12	the	the	DET
dem-1049	126	13	spread	spread	NOUN
dem-1049	126	14	is	be	AUX
dem-1049	126	15	mainly	mainly	ADV
dem-1049	126	16	due	due	ADJ
dem-1049	126	17	to	to	ADP
dem-1049	126	18	rationally	rationally	ADV
dem-1049	126	19	expected	expect	VERB
dem-1049	126	20	changes	change	NOUN
dem-1049	126	21	in	in	ADP
dem-1049	126	22	future	future	ADJ
dem-1049	126	23	short	short	ADJ
dem-1049	126	24	rates	rate	NOUN
dem-1049	126	25	with	with	ADP
dem-1049	126	26	no	no	DET
dem-1049	126	27	or	or	CCONJ
dem-1049	126	28	only	only	ADV
dem-1049	126	29	minor	minor	ADJ
dem-1049	126	30	variation	variation	NOUN
dem-1049	126	31	in	in	ADP
dem-1049	126	32	the	the	DET
dem-1049	126	33	premia	premia	NOUN
dem-1049	126	34	(	(	PUNCT
dem-1049	126	35	engsted	engste	VERB
dem-1049	126	36	,	,	PUNCT
dem-1049	126	37	1996	1996	NUM
dem-1049	126	38	)	)	PUNCT
dem-1049	126	39	.	.	PUNCT
dem-1049	127	1	the	the	DET
dem-1049	127	2	validity	validity	NOUN
dem-1049	127	3	of	of	ADP
dem-1049	127	4	peh	peh	PROPN
dem-1049	127	5	can	can	AUX
dem-1049	127	6	be	be	AUX
dem-1049	127	7	informally	informally	ADV
dem-1049	127	8	deduced	deduce	VERB
dem-1049	127	9	plotting	plot	VERB
dem-1049	127	10	(	(	PUNCT
dem-1049	127	11	)	)	PUNCT
dem-1049	127	12	*	*	PUNCT
dem-1049	127	13	n	n	CCONJ
dem-1049	127	14	ts	ts	X
dem-1049	127	15	versus	versus	X
dem-1049	127	16	(	(	PUNCT
dem-1049	127	17	)	)	PUNCT
dem-1049	127	18	n	n	ADP
dem-1049	127	19	ts	ts	ADV
dem-1049	127	20	,	,	PUNCT
dem-1049	127	21	while	while	SCONJ
dem-1049	127	22	it	it	PRON
dem-1049	127	23	can	can	AUX
dem-1049	127	24	be	be	AUX
dem-1049	127	25	more	more	ADV
dem-1049	127	26	formally	formally	ADV
dem-1049	127	27	evaluated	evaluate	VERB
dem-1049	127	28	using	use	VERB
dem-1049	127	29	the	the	DET
dem-1049	127	30	above	above	ADJ
dem-1049	127	31	two	two	NUM
dem-1049	127	32	metrics	metric	NOUN
dem-1049	127	33	.	.	PUNCT
dem-1049	128	1	since	since	SCONJ
dem-1049	128	2	vrβ	vrβ	NOUN
dem-1049	128	3	ρ=	ρ=	PROPN
dem-1049	128	4	is	be	AUX
dem-1049	128	5	the	the	DET
dem-1049	128	6	ols	ols	PROPN
dem-1049	128	7	estimator	estimator	PROPN
dem-1049	128	8	maria	maria	PROPN
dem-1049	128	9	blangiewicz	blangiewicz	PROPN
dem-1049	128	10	,	,	PUNCT
dem-1049	128	11	paweł	paweł	VERB
dem-1049	128	12	miłobędzki	miłobędzki	PROPN
dem-1049	128	13	dynamic	dynamic	ADJ
dem-1049	128	14	econometric	econometric	ADJ
dem-1049	128	15	models	model	NOUN
dem-1049	128	16	12	12	NUM
dem-1049	128	17	(	(	PUNCT
dem-1049	128	18	2012	2012	NUM
dem-1049	128	19	)	)	PUNCT
dem-1049	128	20	5–17	5–17	NOUN
dem-1049	128	21	10	10	NUM
dem-1049	128	22	of	of	ADP
dem-1049	128	23	the	the	DET
dem-1049	128	24	slope	slope	NOUN
dem-1049	128	25	in	in	ADP
dem-1049	128	26	the	the	DET
dem-1049	128	27	regression	regression	NOUN
dem-1049	128	28	of	of	ADP
dem-1049	128	29	actual	actual	ADJ
dem-1049	128	30	spread	spread	NOUN
dem-1049	128	31	onto	onto	ADP
dem-1049	128	32	theoretical	theoretical	ADJ
dem-1049	128	33	spread	spread	NOUN
dem-1049	128	34	,	,	PUNCT
dem-1049	128	35	which	which	PRON
dem-1049	128	36	should	should	AUX
dem-1049	128	37	also	also	ADV
dem-1049	128	38	be	be	AUX
dem-1049	128	39	unity	unity	NOUN
dem-1049	128	40	,	,	PUNCT
dem-1049	128	41	both	both	CCONJ
dem-1049	128	42	the	the	DET
dem-1049	128	43	numerator	numerator	NOUN
dem-1049	128	44	and	and	CCONJ
dem-1049	128	45	denominator	denominator	NOUN
dem-1049	128	46	should	should	AUX
dem-1049	128	47	be	be	AUX
dem-1049	128	48	close	close	ADJ
dem-1049	128	49	to	to	ADP
dem-1049	128	50	unity	unity	NOUN
dem-1049	128	51	or	or	CCONJ
dem-1049	128	52	one	one	NUM
dem-1049	128	53	of	of	ADP
dem-1049	128	54	them	they	PRON
dem-1049	128	55	must	must	AUX
dem-1049	128	56	be	be	AUX
dem-1049	128	57	approximately	approximately	ADV
dem-1049	128	58	the	the	DET
dem-1049	128	59	inverse	inverse	NOUN
dem-1049	128	60	of	of	ADP
dem-1049	128	61	the	the	DET
dem-1049	128	62	other	other	ADJ
dem-1049	128	63	.	.	PUNCT
dem-1049	129	1	thus	thus	ADV
dem-1049	129	2	the	the	DET
dem-1049	129	3	rejection	rejection	NOUN
dem-1049	129	4	of	of	ADP
dem-1049	129	5	1β	1β	NOUN
dem-1049	129	6	=	=	PUNCT
dem-1049	129	7	is	be	AUX
dem-1049	129	8	to	to	PART
dem-1049	129	9	be	be	AUX
dem-1049	129	10	accounted	account	VERB
dem-1049	129	11	for	for	ADP
dem-1049	129	12	either	either	CCONJ
dem-1049	129	13	the	the	DET
dem-1049	129	14	over	over	NOUN
dem-1049	129	15	-	-	PUNCT
dem-1049	129	16	reaction	reaction	NOUN
dem-1049	129	17	(	(	PUNCT
dem-1049	129	18	underreaction	underreaction	NOUN
dem-1049	129	19	)	)	PUNCT
dem-1049	129	20	hypothesis	hypothesis	NOUN
dem-1049	129	21	or	or	CCONJ
dem-1049	129	22	the	the	DET
dem-1049	129	23	presence	presence	NOUN
dem-1049	129	24	of	of	ADP
dem-1049	129	25	the	the	DET
dem-1049	129	26	time	time	NOUN
dem-1049	129	27	-	-	PUNCT
dem-1049	129	28	varying	vary	VERB
dem-1049	129	29	term	term	NOUN
dem-1049	129	30	premium	premium	NOUN
dem-1049	129	31	.	.	PUNCT
dem-1049	130	1	if	if	SCONJ
dem-1049	130	2	(	(	PUNCT
dem-1049	130	3	)	)	PUNCT
dem-1049	130	4	1vr	1vr	NOUN
dem-1049	130	5	<	<	X
dem-1049	130	6	>	>	X
dem-1049	130	7	and	and	CCONJ
dem-1049	130	8	1ρ	1ρ	PROPN
dem-1049	130	9	≈	≈	PROPN
dem-1049	130	10	,	,	PUNCT
dem-1049	130	11	then	then	ADV
dem-1049	130	12	the	the	DET
dem-1049	130	13	slope	slope	NOUN
dem-1049	130	14	would	would	AUX
dem-1049	130	15	be	be	AUX
dem-1049	130	16	more	more	ADV
dem-1049	130	17	(	(	PUNCT
dem-1049	130	18	less	less	ADJ
dem-1049	130	19	)	)	PUNCT
dem-1049	130	20	than	than	ADP
dem-1049	130	21	unity	unity	NOUN
dem-1049	130	22	and	and	CCONJ
dem-1049	130	23	the	the	DET
dem-1049	130	24	actual	actual	ADJ
dem-1049	130	25	spread	spread	NOUN
dem-1049	130	26	is	be	AUX
dem-1049	130	27	more	more	ADV
dem-1049	130	28	(	(	PUNCT
dem-1049	130	29	less	less	ADJ
dem-1049	130	30	)	)	PUNCT
dem-1049	130	31	volatile	volatile	ADJ
dem-1049	130	32	than	than	ADP
dem-1049	130	33	the	the	DET
dem-1049	130	34	theoretical	theoretical	ADJ
dem-1049	130	35	spread	spread	NOUN
dem-1049	130	36	,	,	PUNCT
dem-1049	130	37	the	the	DET
dem-1049	130	38	optimal	optimal	ADJ
dem-1049	130	39	predictor	predictor	NOUN
dem-1049	130	40	of	of	ADP
dem-1049	130	41	future	future	ADJ
dem-1049	130	42	short	short	ADJ
dem-1049	130	43	rates	rate	NOUN
dem-1049	130	44	.	.	PUNCT
dem-1049	131	1	hence	hence	ADV
dem-1049	131	2	,	,	PUNCT
dem-1049	131	3	although	although	SCONJ
dem-1049	131	4	there	there	PRON
dem-1049	131	5	is	be	VERB
dem-1049	131	6	a	a	DET
dem-1049	131	7	strong	strong	ADJ
dem-1049	131	8	relationship	relationship	NOUN
dem-1049	131	9	between	between	ADP
dem-1049	131	10	(	(	PUNCT
dem-1049	131	11	)	)	PUNCT
dem-1049	131	12	*	*	PUNCT
dem-1049	131	13	n	n	CCONJ
dem-1049	131	14	ts	ts	X
dem-1049	132	1	and	and	CCONJ
dem-1049	132	2	(	(	PUNCT
dem-1049	132	3	)	)	PUNCT
dem-1049	133	1	n	n	X
dem-1049	133	2	ts	ts	ADV
dem-1049	133	3	,	,	PUNCT
dem-1049	133	4	the	the	DET
dem-1049	133	5	long	long	ADJ
dem-1049	133	6	rate	rate	NOUN
dem-1049	133	7	is	be	AUX
dem-1049	133	8	over	over	ADV
dem-1049	133	9	-	-	PUNCT
dem-1049	133	10	reacting	react	VERB
dem-1049	133	11	(	(	PUNCT
dem-1049	133	12	under	under	ADV
dem-1049	133	13	-	-	PUNCT
dem-1049	133	14	reacting	reacting	NOUN
dem-1049	133	15	)	)	PUNCT
dem-1049	133	16	to	to	ADP
dem-1049	133	17	current	current	ADJ
dem-1049	133	18	information	information	NOUN
dem-1049	133	19	about	about	ADP
dem-1049	133	20	future	future	ADJ
dem-1049	133	21	short	short	ADJ
dem-1049	133	22	rates	rate	NOUN
dem-1049	133	23	.	.	PUNCT
dem-1049	134	1	in	in	ADP
dem-1049	134	2	the	the	DET
dem-1049	134	3	case	case	NOUN
dem-1049	134	4	neither	neither	CCONJ
dem-1049	134	5	are	be	AUX
dem-1049	134	6	close	close	ADJ
dem-1049	134	7	to	to	ADP
dem-1049	134	8	unity	unity	NOUN
dem-1049	134	9	,	,	PUNCT
dem-1049	134	10	the	the	DET
dem-1049	134	11	actual	actual	ADJ
dem-1049	134	12	spread	spread	NOUN
dem-1049	134	13	behaves	behave	VERB
dem-1049	134	14	differently	differently	ADV
dem-1049	134	15	from	from	ADP
dem-1049	134	16	the	the	DET
dem-1049	134	17	theoretical	theoretical	ADJ
dem-1049	134	18	spread	spread	NOUN
dem-1049	134	19	and	and	CCONJ
dem-1049	134	20	the	the	DET
dem-1049	134	21	overreaction	overreaction	NOUN
dem-1049	134	22	(	(	PUNCT
dem-1049	134	23	under	under	NOUN
dem-1049	134	24	-	-	PUNCT
dem-1049	134	25	reaction	reaction	NOUN
dem-1049	134	26	)	)	PUNCT
dem-1049	134	27	could	could	AUX
dem-1049	134	28	be	be	AUX
dem-1049	134	29	the	the	DET
dem-1049	134	30	consequence	consequence	NOUN
dem-1049	134	31	of	of	ADP
dem-1049	134	32	a	a	DET
dem-1049	134	33	time	time	NOUN
dem-1049	134	34	-	-	PUNCT
dem-1049	134	35	varying	vary	VERB
dem-1049	134	36	term	term	NOUN
dem-1049	134	37	premium	premium	NOUN
dem-1049	134	38	(	(	PUNCT
dem-1049	134	39	campbell	campbell	PROPN
dem-1049	134	40	,	,	PUNCT
dem-1049	134	41	shiller	shiller	PROPN
dem-1049	134	42	,	,	PUNCT
dem-1049	134	43	1991	1991	NUM
dem-1049	134	44	;	;	PUNCT
dem-1049	134	45	hardouvelis	hardouvelis	PROPN
dem-1049	134	46	,	,	PUNCT
dem-1049	134	47	1994	1994	NUM
dem-1049	134	48	)	)	PUNCT
dem-1049	134	49	.	.	PUNCT
dem-1049	135	1	bekaert	bekaert	PROPN
dem-1049	135	2	et	et	PROPN
dem-1049	135	3	al	al	PROPN
dem-1049	135	4	.	.	PROPN
dem-1049	135	5	(	(	PUNCT
dem-1049	135	6	1997	1997	NUM
dem-1049	135	7	)	)	PUNCT
dem-1049	135	8	,	,	PUNCT
dem-1049	135	9	bekeart	bekeart	NOUN
dem-1049	135	10	and	and	CCONJ
dem-1049	135	11	hodrick	hodrick	PROPN
dem-1049	135	12	(	(	PUNCT
dem-1049	135	13	2001	2001	NUM
dem-1049	135	14	)	)	PUNCT
dem-1049	135	15	and	and	CCONJ
dem-1049	135	16	garganas	gargana	NOUN
dem-1049	135	17	and	and	CCONJ
dem-1049	135	18	hall	hall	PROPN
dem-1049	135	19	(	(	PUNCT
dem-1049	135	20	2001	2001	NUM
dem-1049	135	21	)	)	PUNCT
dem-1049	135	22	show	show	VERB
dem-1049	135	23	that	that	SCONJ
dem-1049	135	24	a	a	DET
dem-1049	135	25	2	2	NUM
dem-1049	135	26	-	-	PUNCT
dem-1049	135	27	variable	variable	ADJ
dem-1049	135	28	var	var	NOUN
dem-1049	135	29	based	base	VERB
dem-1049	135	30	tests	test	NOUN
dem-1049	135	31	of	of	ADP
dem-1049	135	32	the	the	DET
dem-1049	135	33	eh	eh	INTJ
dem-1049	135	34	with	with	ADP
dem-1049	135	35	the	the	DET
dem-1049	135	36	exception	exception	NOUN
dem-1049	135	37	of	of	ADP
dem-1049	135	38	(	(	PUNCT
dem-1049	135	39	)	)	PUNCT
dem-1049	135	40	(	(	PUNCT
dem-1049	135	41	)	)	PUNCT
dem-1049	135	42	*	*	PUNCT
dem-1049	135	43	,	,	PUNCT
dem-1049	135	44	n	n	CCONJ
dem-1049	135	45	n	n	PROPN
dem-1049	135	46	t	t	NOUN
dem-1049	135	47	tcorr	tcorr	NOUN
dem-1049	135	48	s	s	PART
dem-1049	135	49	s	s	NUM
dem-1049	135	50			PROPN
dem-1049	135	51			NOUN
dem-1049	135	52			VERB
dem-1049	135	53	are	be	AUX
dem-1049	135	54	biased	bias	VERB
dem-1049	135	55	in	in	ADP
dem-1049	135	56	small	small	ADJ
dem-1049	135	57	samples	sample	NOUN
dem-1049	135	58	in	in	ADP
dem-1049	135	59	the	the	DET
dem-1049	135	60	case	case	NOUN
dem-1049	135	61	the	the	DET
dem-1049	135	62	short	short	ADJ
dem-1049	135	63	rate	rate	NOUN
dem-1049	135	64	is	be	AUX
dem-1049	135	65	persistent	persistent	ADJ
dem-1049	135	66	.	.	PUNCT
dem-1049	136	1	the	the	DET
dem-1049	136	2	wald	wald	PROPN
dem-1049	136	3	test	test	NOUN
dem-1049	136	4	tends	tend	VERB
dem-1049	136	5	to	to	PART
dem-1049	136	6	over	over	ADV
dem-1049	136	7	-	-	PUNCT
dem-1049	136	8	reject	reject	VERB
dem-1049	136	9	the	the	DET
dem-1049	136	10	null	null	NOUN
dem-1049	136	11	,	,	PUNCT
dem-1049	136	12	while	while	SCONJ
dem-1049	136	13	the	the	DET
dem-1049	136	14	variance	variance	NOUN
dem-1049	136	15	bound	bind	VERB
dem-1049	136	16	ratio	ratio	NOUN
dem-1049	136	17	favours	favour	VERB
dem-1049	136	18	it	it	PRON
dem-1049	136	19	too	too	ADV
dem-1049	136	20	often	often	ADV
dem-1049	136	21	.	.	PUNCT
dem-1049	137	1	the	the	DET
dem-1049	137	2	bias	bias	NOUN
dem-1049	137	3	in	in	ADP
dem-1049	137	4	these	these	DET
dem-1049	137	5	tests	test	NOUN
dem-1049	137	6	increases	increase	VERB
dem-1049	137	7	with	with	ADP
dem-1049	137	8	the	the	DET
dem-1049	137	9	degree	degree	NOUN
dem-1049	137	10	of	of	ADP
dem-1049	137	11	short	short	ADJ
dem-1049	137	12	rate	rate	NOUN
dem-1049	137	13	persistence	persistence	NOUN
dem-1049	137	14	.	.	PUNCT
dem-1049	138	1	the	the	DET
dem-1049	138	2	rejection	rejection	NOUN
dem-1049	138	3	of	of	ADP
dem-1049	138	4	the	the	DET
dem-1049	138	5	eh	eh	INTJ
dem-1049	138	6	may	may	AUX
dem-1049	138	7	be	be	AUX
dem-1049	138	8	also	also	ADV
dem-1049	138	9	due	due	ADJ
dem-1049	138	10	to	to	ADP
dem-1049	138	11	noise	noise	NOUN
dem-1049	138	12	traders	trader	NOUN
dem-1049	138	13	.	.	PUNCT
dem-1049	139	1	their	their	PRON
dem-1049	139	2	excessive	excessive	ADJ
dem-1049	139	3	activity	activity	NOUN
dem-1049	139	4	relative	relative	ADJ
dem-1049	139	5	to	to	ADP
dem-1049	139	6	that	that	PRON
dem-1049	139	7	of	of	ADP
dem-1049	139	8	smart	smart	ADJ
dem-1049	139	9	money	money	NOUN
dem-1049	139	10	traders	trader	NOUN
dem-1049	139	11	increases	increase	VERB
dem-1049	139	12	interest	interest	NOUN
dem-1049	139	13	rates	rate	NOUN
dem-1049	139	14	volatility	volatility	NOUN
dem-1049	139	15	which	which	PRON
dem-1049	139	16	results	result	VERB
dem-1049	139	17	in	in	ADP
dem-1049	139	18	a	a	DET
dem-1049	139	19	downward	downward	ADJ
dem-1049	139	20	bias	bias	NOUN
dem-1049	139	21	of	of	ADP
dem-1049	139	22	all	all	DET
dem-1049	139	23	var	var	NOUN
dem-1049	139	24	metrics	metric	NOUN
dem-1049	139	25	(	(	PUNCT
dem-1049	139	26	cuthbertson	cuthbertson	NOUN
dem-1049	139	27	et	et	NOUN
dem-1049	139	28	al	al	PROPN
dem-1049	139	29	.	.	PROPN
dem-1049	139	30	,	,	PUNCT
dem-1049	139	31	1996	1996	NUM
dem-1049	139	32	)	)	PUNCT
dem-1049	139	33	.	.	PUNCT
dem-1049	140	1	we	we	PRON
dem-1049	140	2	are	be	AUX
dem-1049	140	3	now	now	ADV
dem-1049	140	4	to	to	PART
dem-1049	140	5	asses	ass	NOUN
dem-1049	140	6	what	what	PRON
dem-1049	140	7	a	a	DET
dem-1049	140	8	portion	portion	NOUN
dem-1049	140	9	of	of	ADP
dem-1049	140	10	‘	'	PUNCT
dem-1049	140	11	surprise	surprise	NOUN
dem-1049	140	12	’	'	PUNCT
dem-1049	140	13	in	in	ADP
dem-1049	140	14	the	the	DET
dem-1049	140	15	one	one	NUM
dem-1049	140	16	-	-	PUNCT
dem-1049	140	17	period	period	NOUN
dem-1049	140	18	holding	hold	VERB
dem-1049	140	19	period	period	NOUN
dem-1049	140	20	return	return	NOUN
dem-1049	140	21	,	,	PUNCT
dem-1049	140	22	(	(	PUNCT
dem-1049	140	23	)	)	PUNCT
dem-1049	140	24	(	(	PUNCT
dem-1049	140	25	)	)	PUNCT
dem-1049	140	26	(	(	PUNCT
dem-1049	140	27	)	)	PUNCT
dem-1049	140	28	1	1	NUM
dem-1049	140	29	1	1	NUM
dem-1049	140	30	1	1	NUM
dem-1049	140	31	n	n	CCONJ
dem-1049	140	32	n	n	CCONJ
dem-1049	140	33	n	n	NOUN
dem-1049	140	34	t	t	NOUN
dem-1049	140	35	t	t	PROPN
dem-1049	140	36	t	t	PROPN
dem-1049	140	37	teh	teh	NOUN
dem-1049	140	38	h	h	NOUN
dem-1049	140	39	e	e	X
dem-1049	140	40	h+	h+	X
dem-1049	141	1	+	+	X
dem-1049	141	2	+	+	PROPN
dem-1049	141	3	=	=	NOUN
dem-1049	141	4	−	−	PROPN
dem-1049	141	5	,	,	PUNCT
dem-1049	141	6	is	be	AUX
dem-1049	141	7	due	due	ADJ
dem-1049	141	8	to	to	ADP
dem-1049	141	9	the	the	DET
dem-1049	141	10	‘	'	PUNCT
dem-1049	141	11	news	news	NOUN
dem-1049	141	12	’	'	PUNCT
dem-1049	141	13	about	about	ADP
dem-1049	141	14	future	future	ADJ
dem-1049	141	15	short	short	ADJ
dem-1049	141	16	rates	rate	NOUN
dem-1049	141	17	,	,	PUNCT
dem-1049	141	18	(	(	PUNCT
dem-1049	141	19	)	)	PUNCT
dem-1049	141	20	1	1	NUM
dem-1049	141	21	1ter	1ter	NUM
dem-1049	141	22	+	+	CCONJ
dem-1049	141	23	,	,	PUNCT
dem-1049	141	24	and	and	CCONJ
dem-1049	141	25	the	the	DET
dem-1049	141	26	‘	'	PUNCT
dem-1049	141	27	news	news	NOUN
dem-1049	141	28	’	'	PUNCT
dem-1049	141	29	about	about	ADP
dem-1049	141	30	future	future	ADJ
dem-1049	141	31	term	term	NOUN
dem-1049	141	32	premia	premia	NOUN
dem-1049	141	33	,	,	PUNCT
dem-1049	141	34	(	(	PUNCT
dem-1049	141	35	)	)	PUNCT
dem-1049	141	36	1	1	NUM
dem-1049	141	37	n	n	NOUN
dem-1049	141	38	teθ	teθ	NOUN
dem-1049	141	39	+	+	CCONJ
dem-1049	141	40	.	.	PUNCT
dem-1049	142	1	such	such	DET
dem-1049	142	2	a	a	DET
dem-1049	142	3	decomposition	decomposition	NOUN
dem-1049	142	4	is	be	AUX
dem-1049	142	5	based	base	VERB
dem-1049	142	6	on	on	ADP
dem-1049	142	7	residuals	residual	NOUN
dem-1049	142	8	from	from	ADP
dem-1049	142	9	the	the	DET
dem-1049	142	10	var	var	NOUN
dem-1049	142	11	system	system	NOUN
dem-1049	142	12	.	.	PUNCT
dem-1049	143	1	to	to	PART
dem-1049	143	2	see	see	VERB
dem-1049	143	3	this	this	DET
dem-1049	143	4	note	note	NOUN
dem-1049	143	5	that	that	SCONJ
dem-1049	143	6	the	the	DET
dem-1049	143	7	error	error	NOUN
dem-1049	143	8	from	from	ADP
dem-1049	143	9	the	the	DET
dem-1049	143	10	second	second	ADJ
dem-1049	143	11	var	var	NOUN
dem-1049	143	12	equation	equation	NOUN
dem-1049	143	13	,	,	PUNCT
dem-1049	143	14	2	2	NUM
dem-1049	143	15	,	,	PUNCT
dem-1049	143	16	1	1	NUM
dem-1049	143	17	12	12	NUM
dem-1049	143	18	t	t	NOUN
dem-1049	143	19	tu	tu	X
dem-1049	143	20	e	e	X
dem-1049	143	21	u+	u+	NOUN
dem-1049	144	1	+	+	PROPN
dem-1049	144	2	′=	′=	PROPN
dem-1049	144	3	,	,	PUNCT
dem-1049	144	4	represents	represent	VERB
dem-1049	144	5	the	the	DET
dem-1049	144	6	‘	'	PUNCT
dem-1049	144	7	surprise	surprise	NOUN
dem-1049	144	8	’	'	PUNCT
dem-1049	144	9	in	in	ADP
dem-1049	144	10	the	the	DET
dem-1049	144	11	future	future	ADJ
dem-1049	144	12	change	change	NOUN
dem-1049	144	13	of	of	ADP
dem-1049	144	14	the	the	DET
dem-1049	144	15	short	short	ADJ
dem-1049	144	16	rate	rate	NOUN
dem-1049	144	17	,	,	PUNCT
dem-1049	144	18	while	while	SCONJ
dem-1049	144	19	the	the	DET
dem-1049	144	20	error	error	NOUN
dem-1049	144	21	from	from	ADP
dem-1049	144	22	its	its	PRON
dem-1049	144	23	third	third	ADJ
dem-1049	144	24	equation	equation	NOUN
dem-1049	144	25	,	,	PUNCT
dem-1049	144	26	3	3	NUM
dem-1049	144	27	,	,	PUNCT
dem-1049	144	28	1	1	NUM
dem-1049	144	29	3	3	NUM
dem-1049	144	30	t	t	NOUN
dem-1049	144	31	tu	tu	X
dem-1049	144	32	e	e	X
dem-1049	144	33	u+	u+	NOUN
dem-1049	144	34	′=	′=	PROPN
dem-1049	144	35	–	–	PUNCT
dem-1049	144	36	the	the	DET
dem-1049	144	37	‘	'	PUNCT
dem-1049	144	38	surprise	surprise	NOUN
dem-1049	144	39	’	'	PUNCT
dem-1049	144	40	in	in	ADP
dem-1049	144	41	the	the	DET
dem-1049	144	42	excess	excess	ADJ
dem-1049	144	43	one	one	NUM
dem-1049	144	44	-	-	PUNCT
dem-1049	144	45	period	period	NOUN
dem-1049	144	46	holding	hold	VERB
dem-1049	144	47	period	period	NOUN
dem-1049	144	48	return	return	NOUN
dem-1049	144	49	.	.	PUNCT
dem-1049	145	1	since	since	SCONJ
dem-1049	145	2	(	(	PUNCT
dem-1049	145	3	see	see	VERB
dem-1049	145	4	tzavalis	tzavalis	PROPN
dem-1049	145	5	,	,	PUNCT
dem-1049	145	6	wickens	wicken	NOUN
dem-1049	145	7	,	,	PUNCT
dem-1049	145	8	1997	1997	NUM
dem-1049	145	9	)	)	PUNCT
dem-1049	145	10	:	:	PUNCT
dem-1049	145	11	(	(	PUNCT
dem-1049	145	12	)	)	PUNCT
dem-1049	145	13	(	(	PUNCT
dem-1049	145	14	)	)	PUNCT
dem-1049	145	15	(	(	PUNCT
dem-1049	145	16	)	)	PUNCT
dem-1049	145	17	(	(	PUNCT
dem-1049	145	18	)	)	PUNCT
dem-1049	145	19	(	(	PUNCT
dem-1049	145	20	)	)	PUNCT
dem-1049	145	21	(	(	PUNCT
dem-1049	145	22	)	)	PUNCT
dem-1049	145	23	(	(	PUNCT
dem-1049	145	24	)	)	SYM
dem-1049	145	25	1	1	NUM
dem-1049	145	26	11	11	NUM
dem-1049	145	27	1	1	NUM
dem-1049	145	28	1	1	NUM
dem-1049	145	29	1	1	NUM
dem-1049	145	30	1	1	NUM
dem-1049	145	31	1	1	NUM
dem-1049	145	32	1	1	NUM
dem-1049	145	33	11	11	NUM
dem-1049	145	34	1	1	NUM
dem-1049	145	35	1	1	NUM
dem-1049	145	36	1n	1n	NUM
dem-1049	146	1	n	n	CCONJ
dem-1049	147	1	i	i	PRON
dem-1049	147	2	t	t	NOUN
dem-1049	148	1	t	t	PROPN
dem-1049	148	2	t	t	PROPN
dem-1049	148	3	t	t	PROPN
dem-1049	148	4	t	t	PROPN
dem-1049	148	5	t	t	PROPN
dem-1049	148	6	t	t	PROPN
dem-1049	148	7	t	t	PROPN
dem-1049	148	8	ji	ji	INTJ
dem-1049	149	1	i	i	PRON
dem-1049	149	2	j	j	PROPN
dem-1049	149	3	er	er	INTJ
dem-1049	149	4	e	e	X
dem-1049	149	5	e	e	NOUN
dem-1049	149	6	r	r	NOUN
dem-1049	149	7	e	e	NOUN
dem-1049	149	8	e	e	ADP
dem-1049	149	9	n	n	NOUN
dem-1049	149	10	r	r	PROPN
dem-1049	149	11	r−	r−	PROPN
dem-1049	149	12	−	−	PROPN
dem-1049	150	1	+	+	CCONJ
dem-1049	151	1	+	+	PUNCT
dem-1049	151	2	+	+	PUNCT
dem-1049	151	3	+	+	PUNCT
dem-1049	151	4	+	+	ADJ
dem-1049	151	5	=	=	SYM
dem-1049	151	6	=	=	SYM
dem-1049	151	7	=	=	SYM
dem-1049	151	8			NOUN
dem-1049	151	9	=	=	X
dem-1049	151	10	−	−	NOUN
dem-1049	151	11	=	=	PUNCT
dem-1049	152	1	−	−	PROPN
dem-1049	152	2	−	−	PROPN
dem-1049	153	1	+	+	CCONJ
dem-1049	153	2	∆	∆	X
dem-1049	153	3	=	=	NOUN
dem-1049	153	4			NUM
dem-1049	153	5	∑	∑	VERB
dem-1049	153	6	∑	∑	PUNCT
dem-1049	153	7	∑	∑	PROPN
dem-1049	153	8	(	(	PUNCT
dem-1049	153	9	)	)	PUNCT
dem-1049	153	10	(	(	PUNCT
dem-1049	153	11	)	)	SYM
dem-1049	153	12	1	1	NUM
dem-1049	153	13	1	1	NUM
dem-1049	153	14	1	1	NUM
dem-1049	153	15	1	1	NUM
dem-1049	153	16	1	1	NUM
dem-1049	153	17	n	n	NUM
dem-1049	153	18	i	i	PRON
dem-1049	154	1	t	t	NOUN
dem-1049	154	2	t	t	X
dem-1049	154	3	t	t	PROPN
dem-1049	154	4	ji	ji	PROPN
dem-1049	154	5	j	j	PROPN
dem-1049	154	6	e	e	PROPN
dem-1049	154	7	e	e	PROPN
dem-1049	154	8	r−	r−	PROPN
dem-1049	154	9	+	+	CCONJ
dem-1049	154	10	+	+	PROPN
dem-1049	154	11	=	=	SYM
dem-1049	154	12	=	=	SYM
dem-1049	154	13	−	−	PROPN
dem-1049	154	14	∆∑	∆∑	NOUN
dem-1049	154	15	∑	∑	PROPN
dem-1049	154	16	,	,	PUNCT
dem-1049	154	17	(	(	PUNCT
dem-1049	154	18	12	12	NUM
dem-1049	154	19	)	)	PUNCT
dem-1049	154	20	the	the	DET
dem-1049	154	21	‘	'	PUNCT
dem-1049	154	22	surprise	surprise	NOUN
dem-1049	154	23	’	'	PUNCT
dem-1049	154	24	in	in	ADP
dem-1049	154	25	the	the	DET
dem-1049	154	26	term	term	NOUN
dem-1049	154	27	premia	premia	PROPN
dem-1049	154	28	can	can	AUX
dem-1049	154	29	be	be	AUX
dem-1049	154	30	calculated	calculate	VERB
dem-1049	154	31	from	from	ADP
dem-1049	154	32	:	:	PUNCT
dem-1049	154	33	(	(	PUNCT
dem-1049	154	34	)	)	PUNCT
dem-1049	154	35	(	(	PUNCT
dem-1049	154	36	)	)	PUNCT
dem-1049	154	37	(	(	PUNCT
dem-1049	154	38	)	)	SYM
dem-1049	154	39	1	1	NUM
dem-1049	154	40	1	1	NUM
dem-1049	154	41	1	1	NUM
dem-1049	154	42	1	1	NUM
dem-1049	154	43	n	n	NUM
dem-1049	154	44	n	n	NOUN
dem-1049	154	45	t	t	NOUN
dem-1049	154	46	t	t	X
dem-1049	154	47	te	te	INTJ
dem-1049	154	48	er	er	INTJ
dem-1049	154	49	ehθ	ehθ	X
dem-1049	155	1	+	+	PUNCT
dem-1049	156	1	+	+	PUNCT
dem-1049	156	2	+	+	ADJ
dem-1049	156	3	=	=	NOUN
dem-1049	156	4	−	−	NOUN
dem-1049	156	5	−	−	PROPN
dem-1049	156	6	=	=	SYM
dem-1049	156	7	(	(	PUNCT
dem-1049	156	8	13	13	NUM
dem-1049	156	9	)	)	PUNCT
dem-1049	156	10	(	(	PUNCT
dem-1049	156	11	)	)	PUNCT
dem-1049	156	12	(	(	PUNCT
dem-1049	156	13	)	)	PUNCT
dem-1049	156	14	(	(	PUNCT
dem-1049	156	15	)	)	PUNCT
dem-1049	156	16	(	(	PUNCT
dem-1049	156	17	)	)	PUNCT
dem-1049	156	18	(	(	PUNCT
dem-1049	156	19	)	)	PUNCT
dem-1049	156	20	2	2	NUM
dem-1049	156	21	2	2	NUM
dem-1049	156	22	1	1	NUM
dem-1049	156	23	3	3	NUM
dem-1049	156	24	,	,	PUNCT
dem-1049	156	25	12	12	NUM
dem-1049	156	26	1	1	NUM
dem-1049	156	27	2	2	NUM
dem-1049	156	28	3	3	NUM
dem-1049	156	29	1	1	NUM
dem-1049	156	30	n	n	ADP
dem-1049	156	31	t	t	NOUN
dem-1049	156	32	te	te	ADP
dem-1049	156	33	n	n	INTJ
dem-1049	156	34	i	i	PRON
dem-1049	156	35	n	n	CCONJ
dem-1049	156	36	a	a	DET
dem-1049	156	37	n	n	NOUN
dem-1049	156	38	a	a	DET
dem-1049	156	39	n	n	CCONJ
dem-1049	156	40	n	n	ADV
dem-1049	156	41	a	a	DET
dem-1049	156	42	u	u	NOUN
dem-1049	156	43	u−	u−	PROPN
dem-1049	156	44	+	+	CCONJ
dem-1049	156	45	+	+	NUM
dem-1049	156	46			PROPN
dem-1049	156	47	′	′	PROPN
dem-1049	156	48	−	−	PROPN
dem-1049	157	1	+	+	CCONJ
dem-1049	157	2	−	−	PROPN
dem-1049	158	1	+	+	CCONJ
dem-1049	158	2	−	−	PROPN
dem-1049	159	1	+	+	CCONJ
dem-1049	159	2	+	+	NUM
dem-1049	159	3	−	−	ADP
dem-1049	159	4	−	−	PROPN
dem-1049	159	5	−	−	PROPN
dem-1049	159	6			NOUN
dem-1049	159	7	,	,	PUNCT
dem-1049	159	8	using	use	VERB
dem-1049	159	9	the	the	DET
dem-1049	159	10	appropriate	appropriate	ADJ
dem-1049	159	11	var	var	NOUN
dem-1049	159	12	residuals	residual	NOUN
dem-1049	159	13	.	.	PUNCT
dem-1049	160	1	the	the	DET
dem-1049	160	2	first	first	ADJ
dem-1049	160	3	term	term	NOUN
dem-1049	160	4	on	on	ADP
dem-1049	160	5	the	the	DET
dem-1049	160	6	right	right	ADJ
dem-1049	160	7	hand	hand	NOUN
dem-1049	160	8	side	side	NOUN
dem-1049	160	9	the	the	DET
dem-1049	160	10	expectations	expectation	NOUN
dem-1049	160	11	hypothesis	hypothesis	NOUN
dem-1049	160	12	of	of	ADP
dem-1049	160	13	the	the	DET
dem-1049	160	14	term	term	NOUN
dem-1049	160	15	structure	structure	NOUN
dem-1049	160	16	of	of	ADP
dem-1049	160	17	libor	libor	PROPN
dem-1049	160	18	us	us	PROPN
dem-1049	160	19	dollar	dollar	NOUN
dem-1049	160	20	interest	interest	NOUN
dem-1049	160	21	rates	rate	NOUN
dem-1049	160	22	dynamic	dynamic	ADJ
dem-1049	160	23	econometric	econometric	ADJ
dem-1049	160	24	models	model	NOUN
dem-1049	160	25	12	12	NUM
dem-1049	160	26	(	(	PUNCT
dem-1049	160	27	2012	2012	NUM
dem-1049	160	28	)	)	PUNCT
dem-1049	160	29	5–17	5–17	NOUN
dem-1049	160	30	11	11	NUM
dem-1049	160	31	of	of	ADP
dem-1049	160	32	eq	eq	PROPN
dem-1049	160	33	.	.	PUNCT
dem-1049	161	1	(	(	PUNCT
dem-1049	161	2	13	13	NUM
dem-1049	161	3	)	)	PUNCT
dem-1049	161	4	stands	stand	VERB
dem-1049	161	5	for	for	ADP
dem-1049	161	6	the	the	DET
dem-1049	161	7	weighted	weight	VERB
dem-1049	161	8	sum	sum	NOUN
dem-1049	161	9	of	of	ADP
dem-1049	161	10	the	the	DET
dem-1049	161	11	‘	'	PUNCT
dem-1049	161	12	surprises	surprise	NOUN
dem-1049	161	13	’	'	PUNCT
dem-1049	161	14	in	in	ADP
dem-1049	161	15	future	future	ADJ
dem-1049	161	16	short	short	ADJ
dem-1049	161	17	rates	rate	NOUN
dem-1049	161	18	so	so	SCONJ
dem-1049	161	19	that	that	SCONJ
dem-1049	161	20	matrices	matrix	NOUN
dem-1049	161	21	sa	sa	VERB
dem-1049	161	22	exhibit	exhibit	VERB
dem-1049	161	23	the	the	DET
dem-1049	161	24	degree	degree	NOUN
dem-1049	161	25	of	of	ADP
dem-1049	161	26	persistence	persistence	NOUN
dem-1049	161	27	in	in	ADP
dem-1049	161	28	the	the	DET
dem-1049	161	29	‘	'	PUNCT
dem-1049	161	30	news	news	NOUN
dem-1049	161	31	’	'	PUNCT
dem-1049	161	32	about	about	ADP
dem-1049	161	33	future	future	ADJ
dem-1049	161	34	short	short	ADJ
dem-1049	161	35	rates	rate	NOUN
dem-1049	161	36	(	(	PUNCT
dem-1049	161	37	1,2	1,2	NUM
dem-1049	161	38	,	,	PUNCT
dem-1049	161	39	,	,	PUNCT
dem-1049	161	40	2s	2s	PROPN
dem-1049	161	41	n=	n=	ADJ
dem-1049	161	42	−	−	NUM
dem-1049	161	43	)	)	PUNCT
dem-1049	161	44	.	.	PUNCT
dem-1049	162	1	suppose	suppose	VERB
dem-1049	162	2	further	far	ADV
dem-1049	162	3	that	that	SCONJ
dem-1049	162	4	a	a	DET
dem-1049	162	5	revision	revision	NOUN
dem-1049	162	6	to	to	ADP
dem-1049	162	7	expectations	expectation	NOUN
dem-1049	162	8	about	about	ADP
dem-1049	162	9	future	future	ADJ
dem-1049	162	10	term	term	NOUN
dem-1049	162	11	premia	premia	NOUN
dem-1049	162	12	are	be	AUX
dem-1049	162	13	negligible	negligible	ADJ
dem-1049	162	14	(	(	PUNCT
dem-1049	162	15	(	(	PUNCT
dem-1049	162	16	)	)	PUNCT
dem-1049	162	17	1	1	NUM
dem-1049	162	18	0n	0n	NOUN
dem-1049	162	19	teθ	teθ	NOUN
dem-1049	163	1	+	+	PROPN
dem-1049	163	2	≈	≈	PROPN
dem-1049	163	3	)	)	PUNCT
dem-1049	163	4	.	.	PUNCT
dem-1049	164	1	this	this	DET
dem-1049	164	2	yields	yield	NOUN
dem-1049	164	3	(	(	PUNCT
dem-1049	164	4	)	)	PUNCT
dem-1049	164	5	(	(	PUNCT
dem-1049	164	6	)	)	SYM
dem-1049	164	7	1	1	NUM
dem-1049	164	8	1	1	NUM
dem-1049	164	9	1	1	NUM
dem-1049	164	10	n	n	NUM
dem-1049	164	11	t	t	NOUN
dem-1049	164	12	teh	teh	NOUN
dem-1049	164	13	er+	er+	NOUN
dem-1049	164	14	+	+	PROPN
dem-1049	164	15	≈	≈	PROPN
dem-1049	164	16	−	−	PROPN
dem-1049	164	17	,	,	PUNCT
dem-1049	164	18	and	and	CCONJ
dem-1049	164	19	the	the	DET
dem-1049	164	20	following	follow	VERB
dem-1049	164	21	metrics	metric	NOUN
dem-1049	164	22	also	also	ADV
dem-1049	164	23	apply	apply	VERB
dem-1049	164	24	:	:	PUNCT
dem-1049	164	25	(	(	PUNCT
dem-1049	164	26	)	)	PUNCT
dem-1049	164	27	(	(	PUNCT
dem-1049	164	28	)	)	PUNCT
dem-1049	164	29	12	12	NUM
dem-1049	164	30	2	2	NUM
dem-1049	164	31	1	1	NUM
dem-1049	164	32	1	1	NUM
dem-1049	164	33	1n	1n	NUM
dem-1049	164	34	t	t	NOUN
dem-1049	164	35	ter	ter	NOUN
dem-1049	164	36	ehσ	ehσ	NOUN
dem-1049	164	37	σ+	σ+	NOUN
dem-1049	165	1	+	+	CCONJ
dem-1049	165	2			NOUN
dem-1049	165	3			PROPN
dem-1049	165	4			NOUN
dem-1049	165	5			NUM
dem-1049	165	6	≈	≈	PUNCT
dem-1049	165	7			NOUN
dem-1049	165	8			NOUN
dem-1049	165	9			PROPN
dem-1049	165	10	,	,	PUNCT
dem-1049	165	11	(	(	PUNCT
dem-1049	165	12	14	14	NUM
dem-1049	165	13	)	)	PUNCT
dem-1049	165	14	(	(	PUNCT
dem-1049	165	15	)	)	PUNCT
dem-1049	165	16	(	(	PUNCT
dem-1049	165	17	)	)	SYM
dem-1049	165	18	1	1	NUM
dem-1049	165	19	1	1	NUM
dem-1049	165	20	1	1	NUM
dem-1049	165	21	,	,	PUNCT
dem-1049	165	22	1n	1n	NUM
dem-1049	165	23	t	t	NOUN
dem-1049	165	24	tcorr	tcorr	X
dem-1049	165	25	er	er	INTJ
dem-1049	165	26	eh+	eh+	ADJ
dem-1049	165	27	+	+	CCONJ
dem-1049	165	28			NOUN
dem-1049	165	29			PROPN
dem-1049	165	30	≈	≈	PROPN
dem-1049	165	31	−	−	PROPN
dem-1049	165	32			PROPN
dem-1049	165	33	.	.	PUNCT
dem-1049	166	1	(	(	PUNCT
dem-1049	166	2	15	15	NUM
dem-1049	166	3	)	)	PUNCT
dem-1049	166	4	in	in	ADP
dem-1049	166	5	addition	addition	NOUN
dem-1049	166	6	,	,	PUNCT
dem-1049	166	7	from	from	ADP
dem-1049	166	8	eq	eq	ADP
dem-1049	166	9	.	.	PUNCT
dem-1049	167	1	(	(	PUNCT
dem-1049	167	2	1	1	NUM
dem-1049	167	3	)	)	PUNCT
dem-1049	167	4	and	and	CCONJ
dem-1049	167	5	(	(	PUNCT
dem-1049	167	6	4	4	X
dem-1049	167	7	)	)	PUNCT
dem-1049	167	8	we	we	PRON
dem-1049	167	9	obtain	obtain	VERB
dem-1049	167	10	:	:	PUNCT
dem-1049	167	11	(	(	PUNCT
dem-1049	167	12	)	)	PUNCT
dem-1049	167	13	(	(	PUNCT
dem-1049	167	14	)	)	PUNCT
dem-1049	167	15	(	(	PUNCT
dem-1049	167	16	)	)	PUNCT
dem-1049	167	17	(	(	PUNCT
dem-1049	167	18	)	)	PUNCT
dem-1049	167	19	(	(	PUNCT
dem-1049	167	20	)	)	SYM
dem-1049	167	21	1	1	NUM
dem-1049	167	22	1	1	NUM
dem-1049	167	23	1	1	NUM
dem-1049	167	24	1	1	NUM
dem-1049	167	25	1	1	NUM
dem-1049	167	26	n	n	CCONJ
dem-1049	167	27	n	n	CCONJ
dem-1049	167	28	n	n	NOUN
dem-1049	167	29	t	t	NOUN
dem-1049	167	30	t	t	PROPN
dem-1049	167	31	t	t	PROPN
dem-1049	167	32	t	t	X
dem-1049	167	33	th	th	X
dem-1049	167	34	r	r	NOUN
dem-1049	167	35	er	er	INTJ
dem-1049	167	36	eθ	eθ	INTJ
dem-1049	167	37	θ+	θ+	NOUN
dem-1049	167	38	+	+	PUNCT
dem-1049	168	1	+	+	ADJ
dem-1049	168	2	−	−	NOUN
dem-1049	168	3	=	=	SYM
dem-1049	168	4	−	−	PROPN
dem-1049	168	5	−	−	PROPN
dem-1049	168	6	.	.	PUNCT
dem-1049	169	1	(	(	PUNCT
dem-1049	169	2	16	16	NUM
dem-1049	169	3	)	)	PUNCT
dem-1049	169	4	hence	hence	ADV
dem-1049	169	5	we	we	PRON
dem-1049	169	6	can	can	AUX
dem-1049	169	7	conclude	conclude	VERB
dem-1049	169	8	that	that	PRON
dem-1049	169	9	(	(	PUNCT
dem-1049	169	10	)	)	SYM
dem-1049	169	11	21	21	NUM
dem-1049	169	12	r−	r−	PROPN
dem-1049	169	13	of	of	ADP
dem-1049	169	14	the	the	DET
dem-1049	169	15	one	one	NUM
dem-1049	169	16	-	-	PUNCT
dem-1049	169	17	period	period	NOUN
dem-1049	169	18	holding	hold	VERB
dem-1049	169	19	period	period	NOUN
dem-1049	169	20	return	return	NOUN
dem-1049	169	21	equation	equation	NOUN
dem-1049	169	22	in	in	ADP
dem-1049	169	23	the	the	DET
dem-1049	169	24	var	var	NOUN
dem-1049	169	25	system	system	NOUN
dem-1049	169	26	indicates	indicate	VERB
dem-1049	169	27	a	a	DET
dem-1049	169	28	proportion	proportion	NOUN
dem-1049	169	29	of	of	ADP
dem-1049	169	30	the	the	DET
dem-1049	169	31	excess	excess	ADJ
dem-1049	169	32	one	one	NUM
dem-1049	169	33	period	period	NOUN
dem-1049	169	34	holding	hold	VERB
dem-1049	169	35	period	period	NOUN
dem-1049	169	36	return	return	NOUN
dem-1049	169	37	that	that	PRON
dem-1049	169	38	is	be	AUX
dem-1049	169	39	due	due	ADJ
dem-1049	169	40	to	to	ADP
dem-1049	169	41	variation	variation	NOUN
dem-1049	169	42	in	in	ADP
dem-1049	169	43	the	the	DET
dem-1049	169	44	‘	'	PUNCT
dem-1049	169	45	news	news	NOUN
dem-1049	169	46	’	'	PUNCT
dem-1049	169	47	about	about	ADP
dem-1049	169	48	future	future	ADJ
dem-1049	169	49	short	short	ADJ
dem-1049	169	50	rates	rate	NOUN
dem-1049	169	51	.	.	PUNCT
dem-1049	170	1	3	3	X
dem-1049	170	2	.	.	X
dem-1049	170	3	empirical	empirical	ADJ
dem-1049	170	4	results	result	NOUN
dem-1049	170	5	since	since	SCONJ
dem-1049	170	6	interest	interest	NOUN
dem-1049	170	7	rates	rate	NOUN
dem-1049	170	8	are	be	AUX
dem-1049	170	9	believed	believe	VERB
dem-1049	170	10	to	to	PART
dem-1049	170	11	be	be	AUX
dem-1049	170	12	integrated	integrate	VERB
dem-1049	170	13	of	of	ADP
dem-1049	170	14	order	order	NOUN
dem-1049	170	15	one	one	NUM
dem-1049	170	16	variables	variable	VERB
dem-1049	170	17	the	the	DET
dem-1049	170	18	use	use	NOUN
dem-1049	170	19	of	of	ADP
dem-1049	170	20	the	the	DET
dem-1049	170	21	var	var	NOUN
dem-1049	170	22	based	base	VERB
dem-1049	170	23	tests	test	NOUN
dem-1049	170	24	in	in	ADP
dem-1049	170	25	the	the	DET
dem-1049	170	26	applied	apply	VERB
dem-1049	170	27	work	work	NOUN
dem-1049	170	28	is	be	AUX
dem-1049	170	29	limited	limit	VERB
dem-1049	170	30	to	to	ADP
dem-1049	170	31	cases	case	NOUN
dem-1049	170	32	in	in	ADP
dem-1049	170	33	which	which	PRON
dem-1049	170	34	all	all	DET
dem-1049	170	35	variables	variable	NOUN
dem-1049	170	36	in	in	ADP
dem-1049	170	37	the	the	DET
dem-1049	170	38	var	var	NOUN
dem-1049	170	39	system	system	NOUN
dem-1049	170	40	(	(	PUNCT
dem-1049	170	41	actual	actual	ADJ
dem-1049	170	42	yield	yield	NOUN
dem-1049	170	43	spread	spread	NOUN
dem-1049	170	44	,	,	PUNCT
dem-1049	170	45	change	change	NOUN
dem-1049	170	46	in	in	ADP
dem-1049	170	47	the	the	DET
dem-1049	170	48	short	short	ADJ
dem-1049	170	49	rate	rate	NOUN
dem-1049	170	50	,	,	PUNCT
dem-1049	170	51	expost	expost	ADJ
dem-1049	170	52	excess	excess	ADJ
dem-1049	170	53	one	one	NUM
dem-1049	170	54	-	-	PUNCT
dem-1049	170	55	period	period	NOUN
dem-1049	170	56	holding	hold	VERB
dem-1049	170	57	period	period	NOUN
dem-1049	170	58	return	return	NOUN
dem-1049	170	59	)	)	PUNCT
dem-1049	170	60	are	be	AUX
dem-1049	170	61	stationary2	stationary2	ADJ
dem-1049	170	62	.	.	PUNCT
dem-1049	171	1	this	this	PRON
dem-1049	171	2	is	be	AUX
dem-1049	171	3	to	to	PART
dem-1049	171	4	be	be	AUX
dem-1049	171	5	empirically	empirically	ADV
dem-1049	171	6	confirmed	confirm	VERB
dem-1049	171	7	,	,	PUNCT
dem-1049	171	8	however	however	ADV
dem-1049	171	9	.	.	PUNCT
dem-1049	172	1	hence	hence	ADV
dem-1049	172	2	the	the	DET
dem-1049	172	3	analysis	analysis	NOUN
dem-1049	172	4	sets	set	VERB
dem-1049	172	5	off	off	ADP
dem-1049	172	6	with	with	ADP
dem-1049	172	7	testing	testing	NOUN
dem-1049	172	8	for	for	ADP
dem-1049	172	9	(	(	PUNCT
dem-1049	172	10	non	non	ADJ
dem-1049	172	11	)	)	PUNCT
dem-1049	172	12	stationarity	stationarity	NOUN
dem-1049	172	13	of	of	ADP
dem-1049	172	14	the	the	DET
dem-1049	172	15	individual	individual	ADJ
dem-1049	172	16	us	us	PROPN
dem-1049	172	17	dollar	dollar	NOUN
dem-1049	172	18	libors	libor	NOUN
dem-1049	172	19	and	and	CCONJ
dem-1049	172	20	the	the	DET
dem-1049	172	21	variables	variable	NOUN
dem-1049	172	22	entering	enter	VERB
dem-1049	172	23	the	the	DET
dem-1049	172	24	var	var	NOUN
dem-1049	172	25	.	.	PUNCT
dem-1049	173	1	for	for	ADP
dem-1049	173	2	testing	testing	NOUN
dem-1049	173	3	purposes	purpose	NOUN
dem-1049	173	4	we	we	PRON
dem-1049	173	5	employ	employ	VERB
dem-1049	173	6	the	the	DET
dem-1049	173	7	df	df	NOUN
dem-1049	173	8	-	-	PUNCT
dem-1049	173	9	gls	gl	VERB
dem-1049	173	10	and	and	CCONJ
dem-1049	173	11	kpss	kpss	PROPN
dem-1049	173	12	tests	test	NOUN
dem-1049	173	13	(	(	PUNCT
dem-1049	173	14	see	see	VERB
dem-1049	173	15	elliot	elliot	PROPN
dem-1049	173	16	et	et	PROPN
dem-1049	173	17	al	al	PROPN
dem-1049	173	18	.	.	PROPN
dem-1049	173	19	,	,	PUNCT
dem-1049	173	20	1996	1996	NUM
dem-1049	173	21	;	;	PUNCT
dem-1049	173	22	kwiatkowski	kwiatkowski	VERB
dem-1049	173	23	et	et	PROPN
dem-1049	173	24	al	al	PROPN
dem-1049	173	25	.	.	PROPN
dem-1049	173	26	,	,	PUNCT
dem-1049	173	27	1992	1992	NUM
dem-1049	173	28	)	)	PUNCT
dem-1049	173	29	.	.	PUNCT
dem-1049	174	1	their	their	PRON
dem-1049	174	2	results	result	NOUN
dem-1049	174	3	(	(	PUNCT
dem-1049	174	4	available	available	ADJ
dem-1049	174	5	to	to	ADP
dem-1049	174	6	readers	reader	NOUN
dem-1049	174	7	upon	upon	SCONJ
dem-1049	174	8	a	a	DET
dem-1049	174	9	request	request	NOUN
dem-1049	174	10	)	)	PUNCT
dem-1049	174	11	prove	prove	VERB
dem-1049	174	12	that	that	SCONJ
dem-1049	174	13	the	the	DET
dem-1049	174	14	variables	variable	NOUN
dem-1049	174	15	in	in	ADP
dem-1049	174	16	question	question	NOUN
dem-1049	174	17	are	be	AUX
dem-1049	174	18	integrated	integrate	VERB
dem-1049	174	19	of	of	ADP
dem-1049	174	20	order	order	NOUN
dem-1049	174	21	zero	zero	NUM
dem-1049	174	22	.	.	PUNCT
dem-1049	175	1	the	the	DET
dem-1049	175	2	results	result	NOUN
dem-1049	175	3	from	from	ADP
dem-1049	175	4	the	the	DET
dem-1049	175	5	var	var	NOUN
dem-1049	175	6	models	model	NOUN
dem-1049	175	7	are	be	AUX
dem-1049	175	8	stacked	stack	VERB
dem-1049	175	9	in	in	ADP
dem-1049	175	10	table	table	NOUN
dem-1049	175	11	1	1	NUM
dem-1049	175	12	(	(	PUNCT
dem-1049	175	13	see	see	VERB
dem-1049	175	14	appendix	appendix	NOUN
dem-1049	175	15	)	)	PUNCT
dem-1049	175	16	.	.	PUNCT
dem-1049	176	1	var	var	PROPN
dem-1049	176	2	order	order	NOUN
dem-1049	176	3	p	p	NOUN
dem-1049	176	4	for	for	ADP
dem-1049	176	5	each	each	DET
dem-1049	176	6	maturity	maturity	NOUN
dem-1049	176	7	is	be	AUX
dem-1049	176	8	set	set	VERB
dem-1049	176	9	with	with	ADP
dem-1049	176	10	the	the	DET
dem-1049	176	11	use	use	NOUN
dem-1049	176	12	of	of	ADP
dem-1049	176	13	schwarz	schwarz	PROPN
dem-1049	176	14	information	information	NOUN
dem-1049	176	15	criterion	criterion	NOUN
dem-1049	176	16	but	but	CCONJ
dem-1049	176	17	occasionally	occasionally	ADV
dem-1049	176	18	increased	increase	VERB
dem-1049	176	19	to	to	PART
dem-1049	176	20	remove	remove	VERB
dem-1049	176	21	autocorrelation	autocorrelation	NOUN
dem-1049	176	22	in	in	ADP
dem-1049	176	23	residuals3	residuals3	PROPN
dem-1049	176	24	.	.	PUNCT
dem-1049	177	1	the	the	DET
dem-1049	177	2	2	2	NUM
dem-1049	177	3	in	in	ADP
dem-1049	177	4	such	such	ADJ
dem-1049	177	5	circumstances	circumstance	NOUN
dem-1049	177	6	a	a	DET
dem-1049	177	7	3	3	NUM
dem-1049	177	8	-	-	PUNCT
dem-1049	177	9	variable	variable	ADJ
dem-1049	177	10	var	var	NOUN
dem-1049	177	11	of	of	ADP
dem-1049	177	12	tzavalis	tzavali	NOUN
dem-1049	177	13	and	and	CCONJ
dem-1049	177	14	wickens	wicken	NOUN
dem-1049	177	15	(	(	PUNCT
dem-1049	177	16	1997	1997	NUM
dem-1049	177	17	)	)	PUNCT
dem-1049	177	18	implies	imply	VERB
dem-1049	177	19	a	a	DET
dem-1049	177	20	vector	vector	NOUN
dem-1049	177	21	error	error	NOUN
dem-1049	177	22	correction	correction	NOUN
dem-1049	177	23	model	model	NOUN
dem-1049	177	24	with	with	ADP
dem-1049	177	25	the	the	DET
dem-1049	177	26	yield	yield	NOUN
dem-1049	177	27	spreads	spread	NOUN
dem-1049	177	28	and	and	CCONJ
dem-1049	177	29	excess	excess	ADJ
dem-1049	177	30	one	one	NUM
dem-1049	177	31	-	-	PUNCT
dem-1049	177	32	period	period	NOUN
dem-1049	177	33	holding	hold	VERB
dem-1049	177	34	period	period	NOUN
dem-1049	177	35	return	return	NOUN
dem-1049	177	36	being	be	AUX
dem-1049	177	37	the	the	DET
dem-1049	177	38	co	co	ADJ
dem-1049	177	39	-	-	ADJ
dem-1049	177	40	integrating	integrating	ADJ
dem-1049	177	41	vectors	vector	NOUN
dem-1049	177	42	;	;	PUNCT
dem-1049	177	43	see	see	VERB
dem-1049	177	44	appendix	appendix	NOUN
dem-1049	177	45	c	c	NOUN
dem-1049	177	46	in	in	ADP
dem-1049	177	47	king	king	NOUN
dem-1049	177	48	and	and	CCONJ
dem-1049	177	49	kurmann	kurmann	PROPN
dem-1049	177	50	(	(	PUNCT
dem-1049	177	51	2002	2002	NUM
dem-1049	177	52	)	)	PUNCT
dem-1049	177	53	for	for	ADP
dem-1049	177	54	details	detail	NOUN
dem-1049	177	55	regarding	regard	VERB
dem-1049	177	56	a	a	DET
dem-1049	177	57	2	2	NUM
dem-1049	177	58	-	-	PUNCT
dem-1049	177	59	variable	variable	ADJ
dem-1049	177	60	var	var	NOUN
dem-1049	177	61	of	of	ADP
dem-1049	177	62	campbel	campbel	NOUN
dem-1049	177	63	and	and	CCONJ
dem-1049	177	64	shiller	shiller	PROPN
dem-1049	177	65	(	(	PUNCT
dem-1049	177	66	1991	1991	NUM
dem-1049	177	67	)	)	PUNCT
dem-1049	177	68	.	.	PUNCT
dem-1049	178	1	3	3	NUM
dem-1049	178	2	there	there	PRON
dem-1049	178	3	is	be	VERB
dem-1049	178	4	some	some	DET
dem-1049	178	5	unclear	unclear	ADJ
dem-1049	178	6	picture	picture	NOUN
dem-1049	178	7	of	of	ADP
dem-1049	178	8	autocorrelation	autocorrelation	NOUN
dem-1049	178	9	for	for	SCONJ
dem-1049	178	10	the	the	DET
dem-1049	178	11	yield	yield	NOUN
dem-1049	178	12	spread	spread	VERB
dem-1049	178	13	and	and	CCONJ
dem-1049	178	14	the	the	DET
dem-1049	178	15	change	change	NOUN
dem-1049	178	16	in	in	ADP
dem-1049	178	17	short	short	ADJ
dem-1049	178	18	rate	rate	NOUN
dem-1049	178	19	equations	equation	NOUN
dem-1049	178	20	(	(	PUNCT
dem-1049	178	21	for	for	ADP
dem-1049	178	22	4n	4n	NOUN
dem-1049	178	23	=	=	SYM
dem-1049	178	24	and	and	CCONJ
dem-1049	178	25	12n	12n	NOUN
dem-1049	178	26	=	=	SYM
dem-1049	178	27	,	,	PUNCT
dem-1049	178	28	respectively	respectively	ADV
dem-1049	178	29	)	)	PUNCT
dem-1049	178	30	.	.	PUNCT
dem-1049	179	1	the	the	DET
dem-1049	179	2	estimates	estimate	NOUN
dem-1049	179	3	of	of	ADP
dem-1049	179	4	the	the	DET
dem-1049	179	5	breusch	breusch	ADJ
dem-1049	179	6	-	-	PUNCT
dem-1049	179	7	godfrey	godfrey	PROPN
dem-1049	179	8	test	test	NOUN
dem-1049	179	9	statistics	statistic	NOUN
dem-1049	179	10	used	use	VERB
dem-1049	179	11	to	to	PART
dem-1049	179	12	test	test	VERB
dem-1049	179	13	for	for	ADP
dem-1049	179	14	no	no	DET
dem-1049	179	15	-	-	PUNCT
dem-1049	179	16	autocorrelation	autocorrelation	NOUN
dem-1049	179	17	of	of	ADP
dem-1049	179	18	up	up	ADP
dem-1049	179	19	to	to	ADP
dem-1049	179	20	the	the	DET
dem-1049	179	21	12	12	NUM
dem-1049	179	22	-	-	PUNCT
dem-1049	179	23	th	th	VERB
dem-1049	179	24	order	order	NOUN
dem-1049	179	25	are	be	AUX
dem-1049	179	26	just	just	ADV
dem-1049	179	27	equal	equal	ADJ
dem-1049	179	28	to	to	ADP
dem-1049	179	29	the	the	DET
dem-1049	179	30	critical	critical	ADJ
dem-1049	179	31	value	value	NOUN
dem-1049	179	32	of	of	ADP
dem-1049	179	33	the	the	DET
dem-1049	179	34	f	f	PROPN
dem-1049	179	35	variable	variable	NOUN
dem-1049	179	36	with	with	ADP
dem-1049	179	37	12	12	NUM
dem-1049	179	38	and	and	CCONJ
dem-1049	179	39	(	(	PUNCT
dem-1049	179	40	)	)	SYM
dem-1049	179	41	3	3	NUM
dem-1049	179	42	1	1	NUM
dem-1049	179	43	12	12	NUM
dem-1049	179	44	t	t	NOUN
dem-1049	179	45	p−	p−	NOUN
dem-1049	179	46	+	+	CCONJ
dem-1049	180	1	−	−	NOUN
dem-1049	181	1	degrees	degree	NOUN
dem-1049	181	2	of	of	ADP
dem-1049	181	3	freedom	freedom	NOUN
dem-1049	181	4	,	,	PUNCT
dem-1049	181	5	while	while	SCONJ
dem-1049	181	6	the	the	DET
dem-1049	181	7	estimates	estimate	NOUN
dem-1049	181	8	of	of	ADP
dem-1049	181	9	the	the	DET
dem-1049	181	10	ljung	ljung	ADJ
dem-1049	181	11	-	-	PUNCT
dem-1049	181	12	box	box	NOUN
dem-1049	181	13	test	test	NOUN
dem-1049	181	14	statistics	statistic	NOUN
dem-1049	181	15	for	for	ADP
dem-1049	181	16	these	these	DET
dem-1049	181	17	maturities	maturity	NOUN
dem-1049	181	18	are	be	AUX
dem-1049	181	19	far	far	ADV
dem-1049	181	20	away	away	ADV
dem-1049	181	21	from	from	ADP
dem-1049	181	22	the	the	DET
dem-1049	181	23	critical	critical	ADJ
dem-1049	181	24	value	value	NOUN
dem-1049	181	25	of	of	ADP
dem-1049	181	26	the	the	DET
dem-1049	181	27	2χ	2χ	NUM
dem-1049	181	28	variable	variable	NOUN
dem-1049	181	29	with	with	ADP
dem-1049	181	30	12	12	NUM
dem-1049	181	31	degrees	degree	NOUN
dem-1049	181	32	of	of	ADP
dem-1049	181	33	freedom	freedom	NOUN
dem-1049	181	34	at	at	ADP
dem-1049	181	35	the	the	DET
dem-1049	181	36	conventional	conventional	ADJ
dem-1049	181	37	5	5	NUM
dem-1049	181	38	per	per	NOUN
dem-1049	181	39	cent	cent	NOUN
dem-1049	181	40	significance	significance	NOUN
dem-1049	181	41	level	level	NOUN
dem-1049	181	42	.	.	PUNCT
dem-1049	182	1	we	we	PRON
dem-1049	182	2	are	be	AUX
dem-1049	182	3	not	not	PART
dem-1049	182	4	able	able	ADJ
dem-1049	182	5	maria	maria	PROPN
dem-1049	182	6	blangiewicz	blangiewicz	NOUN
dem-1049	182	7	,	,	PUNCT
dem-1049	182	8	paweł	paweł	VERB
dem-1049	182	9	miłobędzki	miłobędzki	PROPN
dem-1049	182	10	dynamic	dynamic	ADJ
dem-1049	182	11	econometric	econometric	ADJ
dem-1049	182	12	models	model	NOUN
dem-1049	182	13	12	12	NUM
dem-1049	182	14	(	(	PUNCT
dem-1049	182	15	2012	2012	NUM
dem-1049	182	16	)	)	PUNCT
dem-1049	182	17	5–17	5–17	NOUN
dem-1049	182	18	12	12	NUM
dem-1049	182	19	first	first	ADJ
dem-1049	182	20	two	two	NUM
dem-1049	182	21	equations	equation	NOUN
dem-1049	182	22	in	in	ADP
dem-1049	182	23	the	the	DET
dem-1049	182	24	system	system	NOUN
dem-1049	182	25	have	have	VERB
dem-1049	182	26	from	from	ADP
dem-1049	182	27	a	a	PRON
dem-1049	182	28	relatively	relatively	ADV
dem-1049	182	29	moderate	moderate	ADJ
dem-1049	182	30	to	to	ADP
dem-1049	182	31	large	large	ADJ
dem-1049	182	32	explanatory	explanatory	ADJ
dem-1049	182	33	power	power	NOUN
dem-1049	182	34	as	as	SCONJ
dem-1049	182	35	reflected	reflect	VERB
dem-1049	182	36	by	by	ADP
dem-1049	182	37	their	their	PRON
dem-1049	182	38	coefficient	coefficient	NOUN
dem-1049	182	39	of	of	ADP
dem-1049	182	40	determination	determination	NOUN
dem-1049	182	41	2r	2r	NUM
dem-1049	182	42	estimates	estimate	NOUN
dem-1049	182	43	.	.	PUNCT
dem-1049	183	1	nevertheless	nevertheless	ADV
dem-1049	183	2	quite	quite	DET
dem-1049	183	3	a	a	DET
dem-1049	183	4	lot	lot	NOUN
dem-1049	183	5	of	of	ADP
dem-1049	183	6	unexplained	unexplained	ADJ
dem-1049	183	7	variation	variation	NOUN
dem-1049	183	8	in	in	ADP
dem-1049	183	9	the	the	DET
dem-1049	183	10	ex	ex	NOUN
dem-1049	183	11	-	-	ADJ
dem-1049	183	12	post	post	ADJ
dem-1049	183	13	excess	excess	ADJ
dem-1049	183	14	one	one	NUM
dem-1049	183	15	-	-	PUNCT
dem-1049	183	16	period	period	NOUN
dem-1049	183	17	holding	hold	VERB
dem-1049	183	18	period	period	NOUN
dem-1049	183	19	return	return	NOUN
dem-1049	183	20	equation	equation	NOUN
dem-1049	183	21	is	be	AUX
dem-1049	183	22	left	leave	VERB
dem-1049	183	23	to	to	PART
dem-1049	183	24	be	be	AUX
dem-1049	183	25	attributed	attribute	VERB
dem-1049	183	26	to	to	ADP
dem-1049	183	27	a	a	DET
dem-1049	183	28	revision	revision	NOUN
dem-1049	183	29	to	to	ADP
dem-1049	183	30	the	the	DET
dem-1049	183	31	expectations	expectation	NOUN
dem-1049	183	32	about	about	ADP
dem-1049	183	33	future	future	ADJ
dem-1049	183	34	short	short	ADJ
dem-1049	183	35	rates	rate	NOUN
dem-1049	183	36	and	and	CCONJ
dem-1049	183	37	future	future	ADJ
dem-1049	183	38	term	term	NOUN
dem-1049	183	39	premia	premia	NOUN
dem-1049	183	40	(	(	PUNCT
dem-1049	183	41	estimates	estimate	NOUN
dem-1049	183	42	of	of	ADP
dem-1049	183	43	21	21	NUM
dem-1049	183	44	r−	r−	PROPN
dem-1049	183	45	in	in	ADP
dem-1049	183	46	the	the	DET
dem-1049	183	47	third	third	ADJ
dem-1049	183	48	equation	equation	NOUN
dem-1049	183	49	range	range	VERB
dem-1049	183	50	from	from	ADP
dem-1049	183	51	0.58	0.58	NUM
dem-1049	183	52	to	to	ADP
dem-1049	183	53	0.81	0.81	NUM
dem-1049	183	54	)	)	PUNCT
dem-1049	183	55	.	.	PUNCT
dem-1049	184	1	in	in	ADP
dem-1049	184	2	addition	addition	NOUN
dem-1049	184	3	,	,	PUNCT
dem-1049	184	4	the	the	DET
dem-1049	184	5	estimates	estimate	NOUN
dem-1049	184	6	of	of	ADP
dem-1049	184	7	granger	granger	PROPN
dem-1049	184	8	non	non	ADJ
dem-1049	184	9	-	-	ADJ
dem-1049	184	10	causality	causality	NOUN
dem-1049	184	11	test	test	NOUN
dem-1049	184	12	statistics	statistic	NOUN
dem-1049	184	13	prove	prove	VERB
dem-1049	184	14	the	the	DET
dem-1049	184	15	ability	ability	NOUN
dem-1049	184	16	of	of	ADP
dem-1049	184	17	the	the	DET
dem-1049	184	18	yield	yield	NOUN
dem-1049	184	19	spread	spread	VERB
dem-1049	184	20	to	to	PART
dem-1049	184	21	predict	predict	VERB
dem-1049	184	22	future	future	ADJ
dem-1049	184	23	changes	change	NOUN
dem-1049	184	24	in	in	ADP
dem-1049	184	25	the	the	DET
dem-1049	184	26	one	one	NUM
dem-1049	184	27	-	-	PUNCT
dem-1049	184	28	month	month	NOUN
dem-1049	184	29	us	us	PROPN
dem-1049	184	30	dollar	dollar	PROPN
dem-1049	184	31	libor	libor	PROPN
dem-1049	184	32	.	.	PROPN
dem-1049	184	33	table	table	PROPN
dem-1049	184	34	2	2	NUM
dem-1049	184	35	(	(	PUNCT
dem-1049	184	36	see	see	VERB
dem-1049	184	37	appendix	appendix	NOUN
dem-1049	184	38	)	)	PUNCT
dem-1049	184	39	reports	report	VERB
dem-1049	184	40	the	the	DET
dem-1049	184	41	results	result	NOUN
dem-1049	184	42	of	of	ADP
dem-1049	184	43	testing	testing	NOUN
dem-1049	184	44	for	for	ADP
dem-1049	184	45	the	the	PRON
dem-1049	184	46	eh	eh	INTJ
dem-1049	184	47	using	use	VERB
dem-1049	184	48	the	the	DET
dem-1049	184	49	restrictions	restriction	NOUN
dem-1049	184	50	set	set	VERB
dem-1049	184	51	on	on	ADP
dem-1049	184	52	the	the	DET
dem-1049	184	53	var	var	NOUN
dem-1049	184	54	parameters	parameter	NOUN
dem-1049	184	55	and	and	CCONJ
dem-1049	184	56	other	other	ADJ
dem-1049	184	57	metrics	metric	NOUN
dem-1049	184	58	.	.	PUNCT
dem-1049	185	1	restriction	restriction	NOUN
dem-1049	185	2	3	3	NUM
dem-1049	185	3	0e	0e	NOUN
dem-1049	185	4	a′	a′	PROPN
dem-1049	186	1	=	=	PUNCT
dem-1049	186	2	is	be	AUX
dem-1049	186	3	rejected	reject	VERB
dem-1049	186	4	for	for	ADP
dem-1049	186	5	all	all	DET
dem-1049	186	6	maturities	maturity	NOUN
dem-1049	186	7	so	so	SCONJ
dem-1049	186	8	that	that	SCONJ
dem-1049	186	9	we	we	PRON
dem-1049	186	10	suspect	suspect	VERB
dem-1049	186	11	the	the	DET
dem-1049	186	12	term	term	NOUN
dem-1049	186	13	premia	premia	PROPN
dem-1049	186	14	are	be	AUX
dem-1049	186	15	timevarying	timevarye	VERB
dem-1049	186	16	.	.	PUNCT
dem-1049	187	1	turning	turn	VERB
dem-1049	187	2	now	now	ADV
dem-1049	187	3	to	to	ADP
dem-1049	187	4	the	the	DET
dem-1049	187	5	var	var	NOUN
dem-1049	187	6	metrics	metric	NOUN
dem-1049	187	7	,	,	PUNCT
dem-1049	187	8	a	a	DET
dem-1049	187	9	graph	graph	NOUN
dem-1049	187	10	of	of	ADP
dem-1049	187	11	the	the	DET
dem-1049	187	12	actual	actual	ADJ
dem-1049	187	13	and	and	CCONJ
dem-1049	187	14	theoretical	theoretical	ADJ
dem-1049	187	15	spread	spread	NOUN
dem-1049	187	16	for	for	ADP
dem-1049	187	17	both	both	DET
dem-1049	187	18	4n	4n	X
dem-1049	187	19	=	=	SYM
dem-1049	187	20	and	and	CCONJ
dem-1049	187	21	12	12	NUM
dem-1049	187	22	show	show	VERB
dem-1049	187	23	their	their	PRON
dem-1049	187	24	rather	rather	ADV
dem-1049	187	25	poor	poor	ADJ
dem-1049	187	26	correspondence	correspondence	NOUN
dem-1049	187	27	over	over	ADP
dem-1049	187	28	time	time	NOUN
dem-1049	187	29	with	with	ADP
dem-1049	187	30	some	some	DET
dem-1049	187	31	visual	visual	ADJ
dem-1049	187	32	evidence	evidence	NOUN
dem-1049	187	33	of	of	ADP
dem-1049	187	34	under	under	NOUN
dem-1049	187	35	-	-	PUNCT
dem-1049	187	36	reaction	reaction	NOUN
dem-1049	187	37	of	of	ADP
dem-1049	187	38	the	the	DET
dem-1049	187	39	actual	actual	ADJ
dem-1049	187	40	spread	spread	NOUN
dem-1049	187	41	relative	relative	ADJ
dem-1049	187	42	to	to	ADP
dem-1049	187	43	the	the	DET
dem-1049	187	44	expected	expect	VERB
dem-1049	187	45	changes	change	NOUN
dem-1049	187	46	in	in	ADP
dem-1049	187	47	future	future	ADJ
dem-1049	187	48	short	short	ADJ
dem-1049	187	49	rates	rate	NOUN
dem-1049	187	50	(	(	PUNCT
dem-1049	187	51	see	see	VERB
dem-1049	187	52	fig	fig	NOUN
dem-1049	187	53	.	.	PUNCT
dem-1049	188	1	1	1	NUM
dem-1049	188	2	-	-	SYM
dem-1049	188	3	2	2	NUM
dem-1049	188	4	,	,	PUNCT
dem-1049	188	5	right	right	ADJ
dem-1049	188	6	panels	panel	NOUN
dem-1049	188	7	,	,	PUNCT
dem-1049	188	8	appendix	appendix	NOUN
dem-1049	188	9	)	)	PUNCT
dem-1049	188	10	.	.	PUNCT
dem-1049	189	1	the	the	DET
dem-1049	189	2	same	same	ADJ
dem-1049	189	3	somewhat	somewhat	ADV
dem-1049	189	4	poor	poor	ADJ
dem-1049	189	5	correspondence	correspondence	NOUN
dem-1049	189	6	is	be	AUX
dem-1049	189	7	apparent	apparent	ADJ
dem-1049	189	8	when	when	SCONJ
dem-1049	189	9	the	the	DET
dem-1049	189	10	first	first	ADJ
dem-1049	189	11	spread	spread	NOUN
dem-1049	189	12	is	be	AUX
dem-1049	189	13	scattered	scatter	VERB
dem-1049	189	14	versus	versus	ADP
dem-1049	189	15	the	the	DET
dem-1049	189	16	latter	latter	ADJ
dem-1049	189	17	(	(	PUNCT
dem-1049	189	18	see	see	VERB
dem-1049	189	19	fig	fig	NOUN
dem-1049	189	20	.	.	PUNCT
dem-1049	190	1	1	1	NUM
dem-1049	190	2	-	-	SYM
dem-1049	190	3	2	2	NUM
dem-1049	190	4	,	,	PUNCT
dem-1049	190	5	left	leave	VERB
dem-1049	190	6	panels	panel	NOUN
dem-1049	190	7	,	,	PUNCT
dem-1049	190	8	appendix	appendix	NOUN
dem-1049	190	9	)	)	PUNCT
dem-1049	190	10	.	.	PUNCT
dem-1049	191	1	empirical	empirical	ADJ
dem-1049	191	2	points	point	NOUN
dem-1049	191	3	on	on	ADP
dem-1049	191	4	these	these	DET
dem-1049	191	5	panels	panel	NOUN
dem-1049	191	6	are	be	AUX
dem-1049	191	7	much	much	ADV
dem-1049	191	8	dispersed	disperse	VERB
dem-1049	191	9	along	along	ADP
dem-1049	191	10	the	the	DET
dem-1049	191	11	straight	straight	ADJ
dem-1049	191	12	45	45	NUM
dem-1049	191	13	-	-	PUNCT
dem-1049	191	14	degree	degree	NOUN
dem-1049	191	15	line	line	NOUN
dem-1049	191	16	indicating	indicate	VERB
dem-1049	191	17	that	that	SCONJ
dem-1049	191	18	for	for	ADP
dem-1049	191	19	both	both	DET
dem-1049	191	20	maturities	maturity	NOUN
dem-1049	191	21	correlation	correlation	NOUN
dem-1049	191	22	between	between	ADP
dem-1049	191	23	(	(	PUNCT
dem-1049	191	24	)	)	PUNCT
dem-1049	191	25	n	n	CCONJ
dem-1049	191	26	ts	ts	NOUN
dem-1049	191	27	and	and	CCONJ
dem-1049	191	28	(	(	PUNCT
dem-1049	191	29	)	)	PUNCT
dem-1049	191	30	*	*	PUNCT
dem-1049	191	31	n	n	X
dem-1049	191	32	ts	ts	ADV
dem-1049	191	33	may	may	AUX
dem-1049	191	34	substantially	substantially	ADV
dem-1049	191	35	differ	differ	VERB
dem-1049	191	36	from	from	ADP
dem-1049	191	37	one	one	NUM
dem-1049	191	38	.	.	PUNCT
dem-1049	192	1	the	the	DET
dem-1049	192	2	null	null	NOUN
dem-1049	192	3	stating	state	VERB
dem-1049	192	4	that	that	SCONJ
dem-1049	192	5	(	(	PUNCT
dem-1049	192	6	)	)	PUNCT
dem-1049	192	7	(	(	PUNCT
dem-1049	192	8	)	)	PUNCT
dem-1049	192	9	*	*	PUNCT
dem-1049	192	10	n	n	PROPN
dem-1049	192	11	n	n	PRON
dem-1049	192	12	t	t	NOUN
dem-1049	192	13	ts	ts	ADP
dem-1049	192	14	s=	s=	PROPN
dem-1049	192	15	is	be	AUX
dem-1049	192	16	also	also	ADV
dem-1049	192	17	rejected	reject	VERB
dem-1049	192	18	at	at	ADP
dem-1049	192	19	5	5	NUM
dem-1049	192	20	per	per	NOUN
dem-1049	192	21	cent	cent	NOUN
dem-1049	192	22	significance	significance	NOUN
dem-1049	192	23	level	level	NOUN
dem-1049	192	24	for	for	ADP
dem-1049	192	25	all	all	DET
dem-1049	192	26	interest	interest	NOUN
dem-1049	192	27	rates	rate	NOUN
dem-1049	192	28	but	but	CCONJ
dem-1049	192	29	not	not	PART
dem-1049	192	30	for	for	ADP
dem-1049	192	31	the	the	DET
dem-1049	192	32	12	12	NUM
dem-1049	192	33	-	-	PUNCT
dem-1049	192	34	month	month	NOUN
dem-1049	192	35	us	us	PROPN
dem-1049	192	36	dollar	dollar	NOUN
dem-1049	192	37	libor	libor	PROPN
dem-1049	192	38	(	(	PUNCT
dem-1049	192	39	in	in	ADP
dem-1049	192	40	this	this	DET
dem-1049	192	41	case	case	NOUN
dem-1049	192	42	it	it	PRON
dem-1049	192	43	is	be	AUX
dem-1049	192	44	rejected	reject	VERB
dem-1049	192	45	at	at	ADP
dem-1049	192	46	10	10	NUM
dem-1049	192	47	per	per	NOUN
dem-1049	192	48	cent	cent	NOUN
dem-1049	192	49	significance	significance	NOUN
dem-1049	192	50	level	level	NOUN
dem-1049	192	51	)	)	PUNCT
dem-1049	192	52	which	which	PRON
dem-1049	192	53	assures	assure	VERB
dem-1049	192	54	that	that	SCONJ
dem-1049	192	55	the	the	DET
dem-1049	192	56	term	term	NOUN
dem-1049	192	57	premia	premia	PROPN
dem-1049	192	58	are	be	AUX
dem-1049	192	59	time	time	NOUN
dem-1049	192	60	-	-	PUNCT
dem-1049	192	61	varying	vary	VERB
dem-1049	192	62	.	.	PUNCT
dem-1049	193	1	a	a	DET
dem-1049	193	2	more	more	ADV
dem-1049	193	3	formal	formal	ADJ
dem-1049	193	4	measures	measure	NOUN
dem-1049	193	5	of	of	ADP
dem-1049	193	6	the	the	DET
dem-1049	193	7	relationship	relationship	NOUN
dem-1049	193	8	between	between	ADP
dem-1049	193	9	the	the	DET
dem-1049	193	10	actual	actual	ADJ
dem-1049	193	11	and	and	CCONJ
dem-1049	193	12	theoretical	theoretical	ADJ
dem-1049	193	13	spread	spread	NOUN
dem-1049	193	14	to	to	ADP
dem-1049	193	15	much	much	ADJ
dem-1049	193	16	extent	extent	NOUN
dem-1049	193	17	support	support	VERB
dem-1049	193	18	the	the	DET
dem-1049	193	19	under	under	NOUN
dem-1049	193	20	-	-	PUNCT
dem-1049	193	21	reaction	reaction	NOUN
dem-1049	193	22	hypothesis	hypothesis	NOUN
dem-1049	193	23	.	.	PUNCT
dem-1049	194	1	while	while	SCONJ
dem-1049	194	2	for	for	ADP
dem-1049	194	3	all	all	DET
dem-1049	194	4	maturities	maturity	NOUN
dem-1049	194	5	the	the	DET
dem-1049	194	6	vr	vr	PROPN
dem-1049	194	7	estimates	estimate	NOUN
dem-1049	194	8	does	do	AUX
dem-1049	194	9	not	not	PART
dem-1049	194	10	depart	depart	VERB
dem-1049	194	11	from	from	ADP
dem-1049	194	12	unity	unity	NOUN
dem-1049	194	13	by	by	ADP
dem-1049	194	14	more	more	ADJ
dem-1049	194	15	than	than	ADP
dem-1049	194	16	its	its	PRON
dem-1049	194	17	2	2	NUM
dem-1049	194	18	standard	standard	ADJ
dem-1049	194	19	deviations	deviation	NOUN
dem-1049	194	20	(	(	PUNCT
dem-1049	194	21	the	the	DET
dem-1049	194	22	relevant	relevant	ADJ
dem-1049	194	23	95	95	NUM
dem-1049	194	24	per	per	ADP
dem-1049	194	25	cent	cent	NOUN
dem-1049	194	26	confidence	confidence	NOUN
dem-1049	194	27	interval	interval	NOUN
dem-1049	194	28	obtained	obtain	VERB
dem-1049	194	29	from	from	ADP
dem-1049	194	30	the	the	DET
dem-1049	194	31	bootstrap	bootstrap	NOUN
dem-1049	194	32	covers	cover	VERB
dem-1049	194	33	unity	unity	NOUN
dem-1049	194	34	in	in	ADP
dem-1049	194	35	all	all	DET
dem-1049	194	36	cases	case	NOUN
dem-1049	194	37	apart	apart	ADV
dem-1049	194	38	from	from	ADP
dem-1049	194	39	those	those	PRON
dem-1049	194	40	of	of	ADP
dem-1049	194	41	8n	8n	NOUN
dem-1049	194	42	=	=	SYM
dem-1049	194	43	,	,	PUNCT
dem-1049	194	44	10	10	NUM
dem-1049	194	45	and	and	CCONJ
dem-1049	194	46	11	11	NUM
dem-1049	194	47	)	)	PUNCT
dem-1049	194	48	,	,	PUNCT
dem-1049	194	49	the	the	DET
dem-1049	194	50	correlation	correlation	NOUN
dem-1049	194	51	coefficient	coefficient	NOUN
dem-1049	194	52	estimates	estimate	NOUN
dem-1049	194	53	are	be	AUX
dem-1049	194	54	less	less	ADJ
dem-1049	194	55	than	than	ADP
dem-1049	194	56	unity	unity	NOUN
dem-1049	194	57	by	by	ADP
dem-1049	194	58	more	more	ADJ
dem-1049	194	59	than	than	ADP
dem-1049	194	60	its	its	PRON
dem-1049	194	61	two	two	NUM
dem-1049	194	62	standard	standard	ADJ
dem-1049	194	63	deviations	deviation	NOUN
dem-1049	194	64	for	for	ADP
dem-1049	194	65	all	all	DET
dem-1049	194	66	maturities	maturity	NOUN
dem-1049	194	67	except	except	SCONJ
dem-1049	194	68	12n	12n	NOUN
dem-1049	194	69	=	=	PUNCT
dem-1049	194	70	.	.	PUNCT
dem-1049	195	1	given	give	VERB
dem-1049	195	2	the	the	DET
dem-1049	195	3	result	result	NOUN
dem-1049	195	4	that	that	SCONJ
dem-1049	195	5	a	a	DET
dem-1049	195	6	lot	lot	NOUN
dem-1049	195	7	of	of	ADP
dem-1049	195	8	unexplained	unexplained	ADJ
dem-1049	195	9	variation	variation	NOUN
dem-1049	195	10	in	in	ADP
dem-1049	195	11	the	the	DET
dem-1049	195	12	ex	ex	NOUN
dem-1049	195	13	-	-	ADJ
dem-1049	195	14	post	post	ADJ
dem-1049	195	15	excess	excess	ADJ
dem-1049	195	16	one	one	NUM
dem-1049	195	17	-	-	PUNCT
dem-1049	195	18	period	period	NOUN
dem-1049	195	19	holding	hold	VERB
dem-1049	195	20	period	period	NOUN
dem-1049	195	21	return	return	NOUN
dem-1049	195	22	equation	equation	NOUN
dem-1049	195	23	is	be	AUX
dem-1049	195	24	due	due	ADJ
dem-1049	195	25	to	to	ADP
dem-1049	195	26	a	a	DET
dem-1049	195	27	revision	revision	NOUN
dem-1049	195	28	to	to	ADP
dem-1049	195	29	the	the	DET
dem-1049	195	30	expectations	expectation	NOUN
dem-1049	195	31	about	about	ADP
dem-1049	195	32	future	future	ADJ
dem-1049	195	33	short	short	ADJ
dem-1049	195	34	rates	rate	NOUN
dem-1049	195	35	and	and	CCONJ
dem-1049	195	36	future	future	ADJ
dem-1049	195	37	term	term	NOUN
dem-1049	195	38	premia	premia	PROPN
dem-1049	195	39	(	(	PUNCT
dem-1049	195	40	see	see	VERB
dem-1049	195	41	estimates	estimate	NOUN
dem-1049	195	42	of	of	ADP
dem-1049	195	43	21	21	NUM
dem-1049	195	44	r−	r−	PROPN
dem-1049	195	45	from	from	ADP
dem-1049	195	46	the	the	DET
dem-1049	195	47	third	third	ADJ
dem-1049	195	48	equation	equation	NOUN
dem-1049	195	49	of	of	ADP
dem-1049	195	50	the	the	DET
dem-1049	195	51	var	var	NOUN
dem-1049	195	52	in	in	ADP
dem-1049	195	53	table	table	NOUN
dem-1049	195	54	1	1	NUM
dem-1049	195	55	,	,	PUNCT
dem-1049	195	56	appendix	appendix	NOUN
dem-1049	195	57	)	)	PUNCT
dem-1049	195	58	we	we	PRON
dem-1049	195	59	are	be	AUX
dem-1049	195	60	to	to	PART
dem-1049	195	61	evaluate	evaluate	VERB
dem-1049	195	62	the	the	DET
dem-1049	195	63	size	size	NOUN
dem-1049	195	64	of	of	ADP
dem-1049	195	65	their	their	PRON
dem-1049	195	66	contribution	contribution	NOUN
dem-1049	195	67	to	to	ADP
dem-1049	195	68	the	the	DET
dem-1049	195	69	overall	overall	ADJ
dem-1049	195	70	effect	effect	NOUN
dem-1049	195	71	.	.	PUNCT
dem-1049	196	1	formally	formally	ADV
dem-1049	196	2	,	,	PUNCT
dem-1049	196	3	the	the	DET
dem-1049	196	4	estimates	estimate	NOUN
dem-1049	196	5	of	of	ADP
dem-1049	196	6	(	(	PUNCT
dem-1049	196	7	)	)	PUNCT
dem-1049	196	8	(	(	PUNCT
dem-1049	196	9	)	)	SYM
dem-1049	196	10	1	1	NUM
dem-1049	196	11	1	1	NUM
dem-1049	196	12	1	1	NUM
dem-1049	196	13	,	,	PUNCT
dem-1049	196	14	n	n	PRON
dem-1049	196	15	t	t	NOUN
dem-1049	196	16	ter	ter	NOUN
dem-1049	196	17	ehρ	ehρ	VERB
dem-1049	196	18	+	+	CCONJ
dem-1049	197	1	+	+	NUM
dem-1049	197	2			NOUN
dem-1049	197	3			NUM
dem-1049	197	4			NOUN
dem-1049	198	1			PROPN
dem-1049	198	2	1≈	1≈	NUM
dem-1049	198	3	−	−	NOUN
dem-1049	198	4	and	and	CCONJ
dem-1049	198	5	for	for	ADP
dem-1049	198	6	all	all	DET
dem-1049	198	7	maturities	maturity	NOUN
dem-1049	198	8	they	they	PRON
dem-1049	198	9	do	do	AUX
dem-1049	198	10	not	not	PART
dem-1049	198	11	differ	differ	VERB
dem-1049	198	12	from	from	ADP
dem-1049	198	13	to	to	PART
dem-1049	198	14	remove	remove	VERB
dem-1049	198	15	autocorrelation	autocorrelation	NOUN
dem-1049	198	16	without	without	ADP
dem-1049	198	17	over	over	ADV
dem-1049	198	18	-	-	PUNCT
dem-1049	198	19	parametrizing	parametrize	VERB
dem-1049	198	20	the	the	DET
dem-1049	198	21	system	system	NOUN
dem-1049	198	22	.	.	PUNCT
dem-1049	199	1	hence	hence	ADV
dem-1049	199	2	,	,	PUNCT
dem-1049	199	3	for	for	ADP
dem-1049	199	4	these	these	DET
dem-1049	199	5	two	two	NUM
dem-1049	199	6	maturities	maturity	NOUN
dem-1049	199	7	some	some	DET
dem-1049	199	8	caution	caution	NOUN
dem-1049	199	9	should	should	AUX
dem-1049	199	10	be	be	AUX
dem-1049	199	11	retained	retain	VERB
dem-1049	199	12	when	when	SCONJ
dem-1049	199	13	further	further	ADJ
dem-1049	199	14	predictions	prediction	NOUN
dem-1049	199	15	about	about	ADP
dem-1049	199	16	the	the	DET
dem-1049	199	17	theoretical	theoretical	ADJ
dem-1049	199	18	spread	spread	NOUN
dem-1049	199	19	as	as	ADV
dem-1049	199	20	well	well	ADV
dem-1049	199	21	as	as	ADP
dem-1049	199	22	predictions	prediction	NOUN
dem-1049	199	23	based	base	VERB
dem-1049	199	24	upon	upon	SCONJ
dem-1049	199	25	all	all	DET
dem-1049	199	26	var	var	NOUN
dem-1049	199	27	metrics	metric	NOUN
dem-1049	199	28	employing	employ	VERB
dem-1049	199	29	the	the	DET
dem-1049	199	30	change	change	NOUN
dem-1049	199	31	in	in	ADP
dem-1049	199	32	short	short	ADJ
dem-1049	199	33	rate	rate	NOUN
dem-1049	199	34	are	be	AUX
dem-1049	199	35	made	make	VERB
dem-1049	199	36	.	.	PUNCT
dem-1049	200	1	the	the	DET
dem-1049	200	2	expectations	expectation	NOUN
dem-1049	200	3	hypothesis	hypothesis	NOUN
dem-1049	200	4	of	of	ADP
dem-1049	200	5	the	the	DET
dem-1049	200	6	term	term	NOUN
dem-1049	200	7	structure	structure	NOUN
dem-1049	200	8	of	of	ADP
dem-1049	200	9	libor	libor	PROPN
dem-1049	200	10	us	us	PROPN
dem-1049	200	11	dollar	dollar	NOUN
dem-1049	200	12	interest	interest	NOUN
dem-1049	200	13	rates	rate	NOUN
dem-1049	200	14	dynamic	dynamic	ADJ
dem-1049	200	15	econometric	econometric	ADJ
dem-1049	200	16	models	model	NOUN
dem-1049	200	17	12	12	NUM
dem-1049	200	18	(	(	PUNCT
dem-1049	200	19	2012	2012	NUM
dem-1049	200	20	)	)	PUNCT
dem-1049	200	21	5–17	5–17	NOUN
dem-1049	200	22	13	13	NUM
dem-1049	200	23	minus	minus	ADP
dem-1049	200	24	unity	unity	NOUN
dem-1049	200	25	by	by	ADP
dem-1049	200	26	more	more	ADJ
dem-1049	200	27	than	than	ADP
dem-1049	200	28	its	its	PRON
dem-1049	200	29	2	2	NUM
dem-1049	200	30	standard	standard	ADJ
dem-1049	200	31	deviations	deviation	NOUN
dem-1049	200	32	,	,	PUNCT
dem-1049	200	33	and	and	CCONJ
dem-1049	200	34	those	those	PRON
dem-1049	200	35	of	of	ADP
dem-1049	200	36	(	(	PUNCT
dem-1049	200	37	)	)	PUNCT
dem-1049	200	38	(	(	PUNCT
dem-1049	200	39	)	)	PUNCT
dem-1049	200	40	12	12	NUM
dem-1049	200	41	2	2	NUM
dem-1049	200	42	1	1	NUM
dem-1049	200	43	1	1	NUM
dem-1049	200	44	n	n	ADP
dem-1049	200	45	t	t	NOUN
dem-1049	200	46	ter	ter	NOUN
dem-1049	200	47	ehσ	ehσ	NOUN
dem-1049	200	48	σ+	σ+	NOUN
dem-1049	200	49	+	+	CCONJ
dem-1049	200	50			NOUN
dem-1049	200	51			PROPN
dem-1049	200	52			NOUN
dem-1049	200	53			NUM
dem-1049	200	54			NUM
dem-1049	201	1			NOUN
dem-1049	201	2			NOUN
dem-1049	201	3			NOUN
dem-1049	201	4	are	be	AUX
dem-1049	201	5	close	close	ADJ
dem-1049	201	6	to	to	ADP
dem-1049	201	7	but	but	CCONJ
dem-1049	201	8	above	above	ADP
dem-1049	201	9	unity	unity	NOUN
dem-1049	201	10	and	and	CCONJ
dem-1049	201	11	slightly	slightly	ADV
dem-1049	201	12	differ	differ	VERB
dem-1049	201	13	from	from	ADP
dem-1049	201	14	that	that	PRON
dem-1049	201	15	by	by	ADP
dem-1049	201	16	more	more	ADJ
dem-1049	201	17	than	than	ADP
dem-1049	201	18	its	its	PRON
dem-1049	201	19	2	2	NUM
dem-1049	201	20	standard	standard	ADJ
dem-1049	201	21	deviations	deviation	NOUN
dem-1049	201	22	(	(	PUNCT
dem-1049	201	23	its	its	PRON
dem-1049	201	24	95	95	NUM
dem-1049	201	25	per	per	NOUN
dem-1049	201	26	cent	cent	NOUN
dem-1049	201	27	confidence	confidence	NOUN
dem-1049	201	28	interval	interval	NOUN
dem-1049	201	29	from	from	ADP
dem-1049	201	30	the	the	DET
dem-1049	201	31	bootstrap	bootstrap	NOUN
dem-1049	201	32	does	do	AUX
dem-1049	201	33	not	not	PART
dem-1049	201	34	cover	cover	VERB
dem-1049	201	35	unity	unity	NOUN
dem-1049	201	36	for	for	ADP
dem-1049	201	37	all	all	DET
dem-1049	201	38	maturities	maturity	NOUN
dem-1049	201	39	except	except	SCONJ
dem-1049	201	40	the	the	DET
dem-1049	201	41	11	11	NUM
dem-1049	201	42	-	-	PUNCT
dem-1049	201	43	month	month	NOUN
dem-1049	201	44	us	us	PROPN
dem-1049	201	45	dollar	dollar	PROPN
dem-1049	201	46	libor	libor	PROPN
dem-1049	201	47	)	)	PUNCT
dem-1049	201	48	.	.	PUNCT
dem-1049	202	1	this	this	PRON
dem-1049	202	2	indicates	indicate	VERB
dem-1049	202	3	that	that	SCONJ
dem-1049	202	4	a	a	DET
dem-1049	202	5	portion	portion	NOUN
dem-1049	202	6	of	of	ADP
dem-1049	202	7	‘	'	PUNCT
dem-1049	202	8	surprise	surprise	NOUN
dem-1049	202	9	’	'	PUNCT
dem-1049	202	10	in	in	ADP
dem-1049	202	11	the	the	DET
dem-1049	202	12	one	one	NUM
dem-1049	202	13	-	-	PUNCT
dem-1049	202	14	period	period	NOUN
dem-1049	202	15	holding	hold	VERB
dem-1049	202	16	period	period	NOUN
dem-1049	202	17	return	return	NOUN
dem-1049	202	18	due	due	ADP
dem-1049	202	19	to	to	ADP
dem-1049	202	20	‘	'	PUNCT
dem-1049	202	21	news	news	NOUN
dem-1049	202	22	’	'	PUNCT
dem-1049	202	23	about	about	ADP
dem-1049	202	24	future	future	ADJ
dem-1049	202	25	term	term	NOUN
dem-1049	202	26	premia	premia	NOUN
dem-1049	202	27	for	for	ADP
dem-1049	202	28	all	all	DET
dem-1049	202	29	n	n	PRON
dem-1049	202	30	is	be	AUX
dem-1049	202	31	not	not	PART
dem-1049	202	32	negligible	negligible	ADJ
dem-1049	202	33	,	,	PUNCT
dem-1049	202	34	however	however	ADV
dem-1049	202	35	small	small	ADJ
dem-1049	202	36	.	.	PUNCT
dem-1049	203	1	taking	take	VERB
dem-1049	203	2	into	into	ADP
dem-1049	203	3	account	account	NOUN
dem-1049	203	4	the	the	DET
dem-1049	203	5	above	above	ADJ
dem-1049	203	6	findings	finding	NOUN
dem-1049	203	7	we	we	PRON
dem-1049	203	8	can	can	AUX
dem-1049	203	9	conclude	conclude	VERB
dem-1049	203	10	that	that	SCONJ
dem-1049	203	11	the	the	DET
dem-1049	203	12	evidence	evidence	NOUN
dem-1049	203	13	we	we	PRON
dem-1049	203	14	have	have	AUX
dem-1049	203	15	gathered	gather	VERB
dem-1049	203	16	against	against	ADP
dem-1049	203	17	the	the	DET
dem-1049	203	18	eh	eh	INTJ
dem-1049	203	19	in	in	ADP
dem-1049	203	20	the	the	DET
dem-1049	203	21	london	london	PROPN
dem-1049	203	22	interbank	interbank	NOUN
dem-1049	203	23	market	market	NOUN
dem-1049	203	24	is	be	AUX
dem-1049	203	25	strong	strong	ADJ
dem-1049	203	26	enough	enough	ADV
dem-1049	203	27	to	to	PART
dem-1049	203	28	reject	reject	VERB
dem-1049	203	29	it	it	PRON
dem-1049	203	30	due	due	ADP
dem-1049	203	31	to	to	ADP
dem-1049	203	32	under	under	NOUN
dem-1049	203	33	-	-	PUNCT
dem-1049	203	34	reaction	reaction	NOUN
dem-1049	203	35	of	of	ADP
dem-1049	203	36	long	long	ADJ
dem-1049	203	37	rates	rate	NOUN
dem-1049	203	38	to	to	ADP
dem-1049	203	39	current	current	ADJ
dem-1049	203	40	information	information	NOUN
dem-1049	203	41	about	about	ADP
dem-1049	203	42	the	the	DET
dem-1049	203	43	future	future	ADJ
dem-1049	203	44	short	short	ADJ
dem-1049	203	45	rate	rate	NOUN
dem-1049	203	46	.	.	PUNCT
dem-1049	204	1	on	on	ADP
dem-1049	204	2	the	the	DET
dem-1049	204	3	other	other	ADJ
dem-1049	204	4	hand	hand	NOUN
dem-1049	204	5	,	,	PUNCT
dem-1049	204	6	as	as	SCONJ
dem-1049	204	7	campbell	campbell	PROPN
dem-1049	204	8	and	and	CCONJ
dem-1049	204	9	shiller	shiller	PROPN
dem-1049	204	10	(	(	PUNCT
dem-1049	204	11	1991	1991	NUM
dem-1049	204	12	)	)	PUNCT
dem-1049	204	13	have	have	AUX
dem-1049	204	14	argued	argue	VERB
dem-1049	204	15	,	,	PUNCT
dem-1049	204	16	rejection	rejection	NOUN
dem-1049	204	17	of	of	ADP
dem-1049	204	18	the	the	DET
dem-1049	204	19	cross	cross	NOUN
dem-1049	204	20	-	-	ADJ
dem-1049	204	21	equation	equation	NOUN
dem-1049	204	22	parameter	parameter	NOUN
dem-1049	204	23	restrictions	restriction	NOUN
dem-1049	204	24	is	be	AUX
dem-1049	204	25	not	not	PART
dem-1049	204	26	a	a	DET
dem-1049	204	27	final	final	ADJ
dem-1049	204	28	argument	argument	NOUN
dem-1049	204	29	against	against	ADP
dem-1049	204	30	the	the	DET
dem-1049	204	31	eh	eh	INTJ
dem-1049	204	32	on	on	ADP
dem-1049	204	33	economic	economic	ADJ
dem-1049	204	34	grounds	ground	NOUN
dem-1049	204	35	as	as	ADV
dem-1049	204	36	long	long	ADV
dem-1049	204	37	as	as	SCONJ
dem-1049	204	38	the	the	DET
dem-1049	204	39	theoretical	theoretical	ADJ
dem-1049	204	40	spread	spread	NOUN
dem-1049	204	41	closely	closely	ADV
dem-1049	204	42	tracks	track	VERB
dem-1049	204	43	the	the	DET
dem-1049	204	44	actual	actual	ADJ
dem-1049	204	45	spread	spread	NOUN
dem-1049	204	46	.	.	PUNCT
dem-1049	205	1	out	out	ADP
dem-1049	205	2	of	of	ADP
dem-1049	205	3	all	all	DET
dem-1049	205	4	var	var	NOUN
dem-1049	205	5	metrics	metric	NOUN
dem-1049	205	6	we	we	PRON
dem-1049	205	7	primarily	primarily	ADV
dem-1049	205	8	trust	trust	VERB
dem-1049	205	9	correlation	correlation	NOUN
dem-1049	205	10	coefficient	coefficient	NOUN
dem-1049	205	11	ρ	ρ	X
dem-1049	205	12	which	which	PRON
dem-1049	205	13	properties	property	NOUN
dem-1049	205	14	are	be	AUX
dem-1049	205	15	not	not	PART
dem-1049	205	16	much	much	ADV
dem-1049	205	17	distorted	distort	VERB
dem-1049	205	18	by	by	ADP
dem-1049	205	19	the	the	DET
dem-1049	205	20	short	short	ADJ
dem-1049	205	21	rate	rate	NOUN
dem-1049	205	22	persistence	persistence	NOUN
dem-1049	205	23	and	and	CCONJ
dem-1049	205	24	for	for	ADP
dem-1049	205	25	that	that	PRON
dem-1049	205	26	its	its	PRON
dem-1049	205	27	estimates	estimate	NOUN
dem-1049	205	28	substantially	substantially	ADV
dem-1049	205	29	depart	depart	VERB
dem-1049	205	30	from	from	ADP
dem-1049	205	31	unity	unity	NOUN
dem-1049	205	32	for	for	ADP
dem-1049	205	33	all	all	DET
dem-1049	205	34	maturities	maturity	NOUN
dem-1049	205	35	.	.	PUNCT
dem-1049	206	1	this	this	PRON
dem-1049	206	2	is	be	AUX
dem-1049	206	3	supported	support	VERB
dem-1049	206	4	by	by	ADP
dem-1049	206	5	the	the	DET
dem-1049	206	6	variance	variance	NOUN
dem-1049	206	7	ratio	ratio	NOUN
dem-1049	206	8	metrics	metric	NOUN
dem-1049	206	9	for	for	ADP
dem-1049	206	10	some	some	DET
dem-1049	206	11	rates	rate	NOUN
dem-1049	206	12	at	at	ADP
dem-1049	206	13	the	the	DET
dem-1049	206	14	longer	long	ADJ
dem-1049	206	15	end	end	NOUN
dem-1049	206	16	of	of	ADP
dem-1049	206	17	maturity	maturity	NOUN
dem-1049	206	18	spectrum	spectrum	NOUN
dem-1049	206	19	.	.	PUNCT
dem-1049	207	1	the	the	DET
dem-1049	207	2	rejection	rejection	NOUN
dem-1049	207	3	of	of	ADP
dem-1049	207	4	the	the	DET
dem-1049	207	5	eh	eh	INTJ
dem-1049	207	6	due	due	ADP
dem-1049	207	7	to	to	ADP
dem-1049	207	8	under	under	NOUN
dem-1049	207	9	-	-	PUNCT
dem-1049	207	10	reaction	reaction	NOUN
dem-1049	207	11	could	could	AUX
dem-1049	207	12	be	be	AUX
dem-1049	207	13	totally	totally	ADV
dem-1049	207	14	erroneous	erroneous	ADJ
dem-1049	207	15	,	,	PUNCT
dem-1049	207	16	however	however	ADV
dem-1049	207	17	.	.	PUNCT
dem-1049	208	1	if	if	SCONJ
dem-1049	208	2	agents	agent	NOUN
dem-1049	208	3	use	use	VERB
dem-1049	208	4	the	the	DET
dem-1049	208	5	var	var	NOUN
dem-1049	208	6	methodology	methodology	NOUN
dem-1049	208	7	for	for	ADP
dem-1049	208	8	forecasting	forecasting	NOUN
dem-1049	208	9	purposes	purpose	NOUN
dem-1049	208	10	,	,	PUNCT
dem-1049	208	11	when	when	SCONJ
dem-1049	208	12	forming	form	VERB
dem-1049	208	13	expectations	expectation	NOUN
dem-1049	208	14	about	about	ADP
dem-1049	208	15	the	the	DET
dem-1049	208	16	future	future	ADJ
dem-1049	208	17	short	short	ADJ
dem-1049	208	18	rates	rate	NOUN
dem-1049	208	19	are	be	AUX
dem-1049	208	20	expected	expect	VERB
dem-1049	208	21	to	to	PART
dem-1049	208	22	utilize	utilize	VERB
dem-1049	208	23	information	information	NOUN
dem-1049	208	24	on	on	ADP
dem-1049	208	25	a	a	DET
dem-1049	208	26	more	more	ADV
dem-1049	208	27	frequent	frequent	ADJ
dem-1049	208	28	basis	basis	NOUN
dem-1049	208	29	(	(	PUNCT
dem-1049	208	30	minute	minute	NOUN
dem-1049	208	31	-	-	PUNCT
dem-1049	208	32	to	to	ADP
dem-1049	208	33	-	-	PUNCT
dem-1049	208	34	minute	minute	NOUN
dem-1049	208	35	,	,	PUNCT
dem-1049	208	36	hourly	hourly	ADJ
dem-1049	208	37	,	,	PUNCT
dem-1049	208	38	daily	daily	ADV
dem-1049	208	39	;	;	PUNCT
dem-1049	208	40	see	see	VERB
dem-1049	208	41	cuthbertson	cuthbertson	NOUN
dem-1049	208	42	et	et	PROPN
dem-1049	208	43	al	al	PROPN
dem-1049	208	44	.	.	PROPN
dem-1049	208	45	,	,	PUNCT
dem-1049	208	46	1996	1996	NUM
dem-1049	208	47	)	)	PUNCT
dem-1049	208	48	.	.	PUNCT
dem-1049	209	1	in	in	ADP
dem-1049	209	2	addition	addition	NOUN
dem-1049	209	3	,	,	PUNCT
dem-1049	209	4	large	large	ADJ
dem-1049	209	5	banks	bank	NOUN
dem-1049	209	6	can	can	AUX
dem-1049	209	7	meet	meet	VERB
dem-1049	209	8	their	their	PRON
dem-1049	209	9	longer	long	ADJ
dem-1049	209	10	-	-	PUNCT
dem-1049	209	11	term	term	NOUN
dem-1049	209	12	needs	need	NOUN
dem-1049	209	13	for	for	ADP
dem-1049	209	14	monies	monie	NOUN
dem-1049	209	15	at	at	ADP
dem-1049	209	16	a	a	DET
dem-1049	209	17	lower	low	ADJ
dem-1049	209	18	cost	cost	NOUN
dem-1049	209	19	outside	outside	ADP
dem-1049	209	20	london	london	PROPN
dem-1049	209	21	.	.	PUNCT
dem-1049	210	1	information	information	NOUN
dem-1049	210	2	regarding	regard	VERB
dem-1049	210	3	interest	interest	NOUN
dem-1049	210	4	rates	rate	NOUN
dem-1049	210	5	of	of	ADP
dem-1049	210	6	both	both	DET
dem-1049	210	7	origins	origin	NOUN
dem-1049	210	8	is	be	AUX
dem-1049	210	9	not	not	PART
dem-1049	210	10	exhibited	exhibit	VERB
dem-1049	210	11	in	in	ADP
dem-1049	210	12	our	our	PRON
dem-1049	210	13	data	datum	NOUN
dem-1049	210	14	set	set	VERB
dem-1049	210	15	so	so	SCONJ
dem-1049	210	16	that	that	SCONJ
dem-1049	210	17	the	the	DET
dem-1049	210	18	predictions	prediction	NOUN
dem-1049	210	19	we	we	PRON
dem-1049	210	20	have	have	AUX
dem-1049	210	21	obtained	obtain	VERB
dem-1049	210	22	from	from	ADP
dem-1049	210	23	the	the	DET
dem-1049	210	24	var	var	NOUN
dem-1049	210	25	system	system	NOUN
dem-1049	210	26	might	might	AUX
dem-1049	210	27	be	be	AUX
dem-1049	210	28	heavily	heavily	ADV
dem-1049	210	29	biased	biased	ADJ
dem-1049	210	30	.	.	PUNCT
dem-1049	211	1	in	in	ADP
dem-1049	211	2	particular	particular	ADJ
dem-1049	211	3	,	,	PUNCT
dem-1049	211	4	using	use	VERB
dem-1049	211	5	the	the	DET
dem-1049	211	6	theoretical	theoretical	ADJ
dem-1049	211	7	spread	spread	NOUN
dem-1049	211	8	we	we	PRON
dem-1049	211	9	could	could	AUX
dem-1049	211	10	substantially	substantially	ADV
dem-1049	211	11	underestimate	underestimate	VERB
dem-1049	211	12	agents	agent	NOUN
dem-1049	211	13	’	'	PUNCT
dem-1049	211	14	expectations	expectation	NOUN
dem-1049	211	15	about	about	ADP
dem-1049	211	16	the	the	DET
dem-1049	211	17	future	future	ADJ
dem-1049	211	18	short	short	ADJ
dem-1049	211	19	rates	rate	NOUN
dem-1049	211	20	.	.	PUNCT
dem-1049	212	1	our	our	PRON
dem-1049	212	2	predictions	prediction	NOUN
dem-1049	212	3	could	could	AUX
dem-1049	212	4	also	also	ADV
dem-1049	212	5	poorly	poorly	ADV
dem-1049	212	6	track	track	VERB
dem-1049	212	7	the	the	DET
dem-1049	212	8	true	true	ADJ
dem-1049	212	9	expectations	expectation	NOUN
dem-1049	212	10	.	.	PUNCT
dem-1049	213	1	conclusions	conclusion	NOUN
dem-1049	213	2	in	in	ADP
dem-1049	213	3	this	this	DET
dem-1049	213	4	study	study	NOUN
dem-1049	213	5	using	use	VERB
dem-1049	213	6	the	the	DET
dem-1049	213	7	monthly	monthly	ADJ
dem-1049	213	8	sampled	sample	VERB
dem-1049	213	9	data	datum	NOUN
dem-1049	213	10	on	on	ADP
dem-1049	213	11	libor	libor	PROPN
dem-1049	213	12	us	us	PROPN
dem-1049	213	13	dollar	dollar	NOUN
dem-1049	213	14	interest	interest	NOUN
dem-1049	213	15	rates	rate	NOUN
dem-1049	213	16	from	from	ADP
dem-1049	213	17	1995	1995	NUM
dem-1049	213	18	to	to	ADP
dem-1049	213	19	2009	2009	NUM
dem-1049	213	20	and	and	CCONJ
dem-1049	213	21	a	a	DET
dem-1049	213	22	wide	wide	ADJ
dem-1049	213	23	range	range	NOUN
dem-1049	213	24	of	of	ADP
dem-1049	213	25	maturities	maturity	NOUN
dem-1049	213	26	we	we	PRON
dem-1049	213	27	find	find	VERB
dem-1049	213	28	a	a	DET
dem-1049	213	29	rather	rather	ADV
dem-1049	213	30	conclusive	conclusive	ADJ
dem-1049	213	31	evidence	evidence	NOUN
dem-1049	213	32	against	against	ADP
dem-1049	213	33	the	the	DET
dem-1049	213	34	eh	eh	INTJ
dem-1049	213	35	.	.	PUNCT
dem-1049	214	1	however	however	ADV
dem-1049	214	2	the	the	DET
dem-1049	214	3	term	term	NOUN
dem-1049	214	4	premia	premia	PROPN
dem-1049	214	5	appear	appear	VERB
dem-1049	214	6	to	to	PART
dem-1049	214	7	vary	vary	VERB
dem-1049	214	8	in	in	ADP
dem-1049	214	9	time	time	NOUN
dem-1049	214	10	and	and	CCONJ
dem-1049	214	11	the	the	DET
dem-1049	214	12	yield	yield	NOUN
dem-1049	214	13	spread	spread	NOUN
dem-1049	214	14	has	have	VERB
dem-1049	214	15	a	a	DET
dem-1049	214	16	good	good	ADJ
dem-1049	214	17	predictive	predictive	ADJ
dem-1049	214	18	power	power	NOUN
dem-1049	214	19	,	,	PUNCT
dem-1049	214	20	the	the	DET
dem-1049	214	21	long	long	ADJ
dem-1049	214	22	rates	rate	NOUN
dem-1049	214	23	under	under	AUX
dem-1049	214	24	-	-	PUNCT
dem-1049	214	25	react	react	NOUN
dem-1049	214	26	to	to	ADP
dem-1049	214	27	current	current	ADJ
dem-1049	214	28	information	information	NOUN
dem-1049	214	29	about	about	ADP
dem-1049	214	30	the	the	DET
dem-1049	214	31	future	future	ADJ
dem-1049	214	32	short	short	ADJ
dem-1049	214	33	rates	rate	NOUN
dem-1049	214	34	.	.	PUNCT
dem-1049	215	1	unexpected	unexpected	ADJ
dem-1049	215	2	changes	change	NOUN
dem-1049	215	3	in	in	ADP
dem-1049	215	4	the	the	DET
dem-1049	215	5	holding	hold	VERB
dem-1049	215	6	period	period	NOUN
dem-1049	215	7	returns	return	VERB
dem-1049	215	8	to	to	ADP
dem-1049	215	9	a	a	DET
dem-1049	215	10	large	large	ADJ
dem-1049	215	11	extent	extent	NOUN
dem-1049	215	12	depend	depend	VERB
dem-1049	215	13	upon	upon	SCONJ
dem-1049	215	14	revisions	revision	NOUN
dem-1049	215	15	to	to	ADP
dem-1049	215	16	forecasts	forecast	NOUN
dem-1049	215	17	about	about	ADP
dem-1049	215	18	the	the	DET
dem-1049	215	19	future	future	ADJ
dem-1049	215	20	short	short	ADJ
dem-1049	215	21	rates	rate	NOUN
dem-1049	215	22	and	and	CCONJ
dem-1049	215	23	to	to	ADP
dem-1049	215	24	a	a	DET
dem-1049	215	25	small	small	ADJ
dem-1049	215	26	extent	extent	NOUN
dem-1049	215	27	upon	upon	SCONJ
dem-1049	215	28	revisions	revision	NOUN
dem-1049	215	29	to	to	ADP
dem-1049	215	30	the	the	DET
dem-1049	215	31	future	future	ADJ
dem-1049	215	32	term	term	NOUN
dem-1049	215	33	premia	premia	NOUN
dem-1049	215	34	.	.	PUNCT
dem-1049	216	1	the	the	DET
dem-1049	216	2	results	result	NOUN
dem-1049	216	3	reported	report	VERB
dem-1049	216	4	in	in	ADP
dem-1049	216	5	this	this	DET
dem-1049	216	6	paper	paper	NOUN
dem-1049	216	7	are	be	AUX
dem-1049	216	8	in	in	ADP
dem-1049	216	9	some	some	DET
dem-1049	216	10	respects	respect	NOUN
dem-1049	216	11	in	in	ADP
dem-1049	216	12	contrast	contrast	NOUN
dem-1049	216	13	to	to	ADP
dem-1049	216	14	those	those	PRON
dem-1049	216	15	of	of	ADP
dem-1049	216	16	hurn	hurn	PROPN
dem-1049	216	17	et	et	PROPN
dem-1049	216	18	.	.	PUNCT
dem-1049	217	1	al	al	PROPN
dem-1049	217	2	.	.	PROPN
dem-1049	218	1	(	(	PUNCT
dem-1049	218	2	1995	1995	NUM
dem-1049	218	3	)	)	PUNCT
dem-1049	218	4	,	,	PUNCT
dem-1049	218	5	engsted	engste	VERB
dem-1049	218	6	(	(	PUNCT
dem-1049	218	7	1996	1996	NUM
dem-1049	218	8	)	)	PUNCT
dem-1049	218	9	,	,	PUNCT
dem-1049	218	10	cuthbertson	cuthbertson	NOUN
dem-1049	218	11	(	(	PUNCT
dem-1049	218	12	1996	1996	NUM
dem-1049	218	13	)	)	PUNCT
dem-1049	218	14	,	,	PUNCT
dem-1049	218	15	cuthbertson	cuthbertson	NOUN
dem-1049	218	16	et	et	PROPN
dem-1049	218	17	al	al	PROPN
dem-1049	218	18	.	.	PROPN
dem-1049	219	1	(	(	PUNCT
dem-1049	219	2	1996	1996	NUM
dem-1049	219	3	)	)	PUNCT
dem-1049	219	4	,	,	PUNCT
dem-1049	219	5	blangiewicz	blangiewicz	NOUN
dem-1049	219	6	and	and	CCONJ
dem-1049	219	7	miłobędzki	miłobędzki	PROPN
dem-1049	219	8	(	(	PUNCT
dem-1049	219	9	2009	2009	NUM
dem-1049	219	10	,	,	PUNCT
dem-1049	219	11	2010	2010	NUM
dem-1049	219	12	)	)	PUNCT
dem-1049	219	13	and	and	CCONJ
dem-1049	219	14	miłobędzki	miłobędzki	PROPN
dem-1049	219	15	(	(	PUNCT
dem-1049	219	16	2010	2010	NUM
dem-1049	219	17	)	)	PUNCT
dem-1049	219	18	who	who	PRON
dem-1049	219	19	maria	maria	PROPN
dem-1049	219	20	blangiewicz	blangiewicz	PROPN
dem-1049	219	21	,	,	PUNCT
dem-1049	219	22	paweł	paweł	VERB
dem-1049	219	23	miłobędzki	miłobędzki	PROPN
dem-1049	219	24	dynamic	dynamic	ADJ
dem-1049	219	25	econometric	econometric	ADJ
dem-1049	219	26	models	model	NOUN
dem-1049	219	27	12	12	NUM
dem-1049	219	28	(	(	PUNCT
dem-1049	219	29	2012	2012	NUM
dem-1049	219	30	)	)	PUNCT
dem-1049	219	31	5–17	5–17	NOUN
dem-1049	219	32	14	14	NUM
dem-1049	219	33	analyzed	analyze	VERB
dem-1049	219	34	the	the	DET
dem-1049	219	35	term	term	NOUN
dem-1049	219	36	structure	structure	NOUN
dem-1049	219	37	of	of	ADP
dem-1049	219	38	interest	interest	NOUN
dem-1049	219	39	rates	rate	NOUN
dem-1049	219	40	at	at	ADP
dem-1049	219	41	the	the	DET
dem-1049	219	42	danish	danish	ADJ
dem-1049	219	43	,	,	PUNCT
dem-1049	219	44	polish	polish	NOUN
dem-1049	219	45	and	and	CCONJ
dem-1049	219	46	the	the	DET
dem-1049	219	47	uk	uk	PROPN
dem-1049	219	48	money	money	NOUN
dem-1049	219	49	markets	market	NOUN
dem-1049	219	50	with	with	ADP
dem-1049	219	51	the	the	DET
dem-1049	219	52	use	use	NOUN
dem-1049	219	53	of	of	ADP
dem-1049	219	54	either	either	CCONJ
dem-1049	219	55	a	a	DET
dem-1049	219	56	2	2	NUM
dem-1049	219	57	or	or	CCONJ
dem-1049	219	58	3	3	NUM
dem-1049	219	59	-	-	PUNCT
dem-1049	219	60	variable	variable	ADJ
dem-1049	219	61	var	var	NOUN
dem-1049	219	62	and	and	CCONJ
dem-1049	219	63	thus	thus	ADV
dem-1049	219	64	provide	provide	VERB
dem-1049	219	65	with	with	ADP
dem-1049	219	66	the	the	DET
dem-1049	219	67	nearest	near	ADJ
dem-1049	219	68	comparison	comparison	NOUN
dem-1049	219	69	to	to	ADP
dem-1049	219	70	our	our	PRON
dem-1049	219	71	work	work	NOUN
dem-1049	219	72	.	.	PUNCT
dem-1049	220	1	the	the	DET
dem-1049	220	2	main	main	ADJ
dem-1049	220	3	difference	difference	NOUN
dem-1049	220	4	revealed	reveal	VERB
dem-1049	220	5	in	in	ADP
dem-1049	220	6	their	their	PRON
dem-1049	220	7	work	work	NOUN
dem-1049	220	8	is	be	AUX
dem-1049	220	9	that	that	PRON
dem-1049	220	10	of	of	ADP
dem-1049	220	11	a	a	DET
dem-1049	220	12	time	time	NOUN
dem-1049	220	13	-	-	PUNCT
dem-1049	220	14	invariant	invariant	ADJ
dem-1049	220	15	term	term	NOUN
dem-1049	220	16	premium	premium	NOUN
dem-1049	220	17	which	which	PRON
dem-1049	220	18	is	be	AUX
dem-1049	220	19	consistent	consistent	ADJ
dem-1049	220	20	with	with	ADP
dem-1049	220	21	the	the	DET
dem-1049	220	22	peh	peh	PROPN
dem-1049	220	23	(	(	PUNCT
dem-1049	220	24	hurn	hurn	PROPN
dem-1049	220	25	et	et	PROPN
dem-1049	220	26	al	al	PROPN
dem-1049	220	27	.	.	PROPN
dem-1049	220	28	,	,	PUNCT
dem-1049	220	29	1995	1995	NUM
dem-1049	220	30	;	;	PUNCT
dem-1049	220	31	cuthbertson	cuthbertson	NOUN
dem-1049	220	32	,	,	PUNCT
dem-1049	220	33	1996	1996	NUM
dem-1049	220	34	;	;	PUNCT
dem-1049	220	35	miłobędzki	miłobędzki	PROPN
dem-1049	220	36	,	,	PUNCT
dem-1049	220	37	2010	2010	NUM
dem-1049	220	38	–	–	PUNCT
dem-1049	220	39	for	for	ADP
dem-1049	220	40	pound	pound	NOUN
dem-1049	220	41	sterling	sterling	NOUN
dem-1049	220	42	,	,	PUNCT
dem-1049	220	43	engsted	engste	VERB
dem-1049	220	44	,	,	PUNCT
dem-1049	220	45	1996	1996	NUM
dem-1049	220	46	–	–	PUNCT
dem-1049	220	47	for	for	ADP
dem-1049	220	48	danish	danish	ADJ
dem-1049	220	49	kroner	kroner	NOUN
dem-1049	220	50	;	;	PUNCT
dem-1049	220	51	blangiewicz	blangiewicz	NOUN
dem-1049	220	52	,	,	PUNCT
dem-1049	220	53	miłobędzki	miłobędzki	PROPN
dem-1049	220	54	,	,	PUNCT
dem-1049	220	55	2010	2010	NUM
dem-1049	220	56	–	–	PUNCT
dem-1049	220	57	for	for	ADP
dem-1049	220	58	polish	polish	ADJ
dem-1049	220	59	zloty	zloty	NOUN
dem-1049	220	60	,	,	PUNCT
dem-1049	220	61	for	for	ADP
dem-1049	220	62	all	all	DET
dem-1049	220	63	or	or	CCONJ
dem-1049	220	64	some	some	PRON
dem-1049	220	65	maturities	maturity	NOUN
dem-1049	220	66	)	)	PUNCT
dem-1049	220	67	,	,	PUNCT
dem-1049	220	68	and	and	CCONJ
dem-1049	220	69	the	the	DET
dem-1049	220	70	main	main	ADJ
dem-1049	220	71	similarity	similarity	NOUN
dem-1049	220	72	–	–	PUNCT
dem-1049	220	73	a	a	DET
dem-1049	220	74	strong	strong	ADJ
dem-1049	220	75	predictive	predictive	ADJ
dem-1049	220	76	power	power	NOUN
dem-1049	220	77	of	of	ADP
dem-1049	220	78	the	the	DET
dem-1049	220	79	yield	yield	NOUN
dem-1049	220	80	spread	spread	NOUN
dem-1049	220	81	(	(	PUNCT
dem-1049	220	82	all	all	DET
dem-1049	220	83	authors	author	NOUN
dem-1049	220	84	except	except	SCONJ
dem-1049	220	85	from	from	ADP
dem-1049	220	86	engsted	engste	VERB
dem-1049	220	87	,	,	PUNCT
dem-1049	220	88	1996	1996	NUM
dem-1049	220	89	,	,	PUNCT
dem-1049	220	90	for	for	ADP
dem-1049	220	91	danish	danish	ADJ
dem-1049	220	92	kroner	kroner	PROPN
dem-1049	220	93	during	during	ADP
dem-1049	220	94	the	the	DET
dem-1049	220	95	period	period	NOUN
dem-1049	220	96	of	of	ADP
dem-1049	220	97	interest	interest	NOUN
dem-1049	220	98	rates	rate	NOUN
dem-1049	220	99	smoothing	smooth	VERB
dem-1049	220	100	)	)	PUNCT
dem-1049	220	101	.	.	PUNCT
dem-1049	221	1	appendix	appendix	ADJ
dem-1049	221	2	table	table	NOUN
dem-1049	221	3	1	1	NUM
dem-1049	221	4	.	.	PUNCT
dem-1049	222	1	summary	summary	NOUN
dem-1049	222	2	statistics	statistic	NOUN
dem-1049	222	3	for	for	ADP
dem-1049	222	4	var	var	NOUN
dem-1049	222	5	(	(	PUNCT
dem-1049	222	6	)	)	PUNCT
dem-1049	222	7	(	(	PUNCT
dem-1049	222	8	)	)	PUNCT
dem-1049	222	9	1	1	X
dem-1049	222	10	*	*	SYM
dem-1049	222	11	(	(	PUNCT
dem-1049	222	12	1	1	NUM
dem-1049	222	13	)	)	SYM
dem-1049	222	14	1	1	NUM
dem-1049	223	1	n	n	NUM
dem-1049	223	2	t	t	NOUN
dem-1049	223	3	t	t	PROPN
dem-1049	223	4	t	t	PROPN
dem-1049	223	5	t	t	PROPN
dem-1049	223	6	tz	tz	PROPN
dem-1049	223	7	s	s	NOUN
dem-1049	223	8	r	r	NOUN
dem-1049	223	9	h	h	NOUN
dem-1049	223	10	r	r	NOUN
dem-1049	223	11	−	−	NOUN
dem-1049	223	12	′	′	PROPN
dem-1049	223	13	=	=	PUNCT
dem-1049	224	1	∆	∆	PROPN
dem-1049	224	2	−	−	PROPN
dem-1049	224	3			PROPN
dem-1049	224	4	n	n	NUM
dem-1049	224	5	p	p	NOUN
dem-1049	224	6	autocorrelation	autocorrelation	NOUN
dem-1049	224	7	r2	r2	PROPN
dem-1049	224	8	granger	granger	PROPN
dem-1049	224	9	lm(12	lm(12	PROPN
dem-1049	224	10	)	)	PUNCT
dem-1049	224	11	a	a	PRON
dem-1049	224	12	)	)	PUNCT
dem-1049	224	13	ljung	ljung	PROPN
dem-1049	224	14	-	-	PUNCT
dem-1049	224	15	box(12	box(12	NUM
dem-1049	224	16	)	)	PUNCT
dem-1049	224	17	b	b	X
dem-1049	224	18	)	)	PUNCT
dem-1049	224	19	noncaus	noncaus	PROPN
dem-1049	224	20	ality	ality	PROPN
dem-1049	224	21	(	(	PUNCT
dem-1049	224	22	n	n	CCONJ
dem-1049	224	23	)	)	PUNCT
dem-1049	224	24	ts	ts	X
dem-1049	224	25	(	(	PUNCT
dem-1049	224	26	1	1	X
dem-1049	224	27	)	)	PUNCT
dem-1049	224	28	tr∆	tr∆	NOUN
dem-1049	224	29	(	(	PUNCT
dem-1049	224	30	)	)	PUNCT
dem-1049	224	31	(	(	PUNCT
dem-1049	224	32	)	)	PUNCT
dem-1049	224	33	n	n	X
dem-1049	224	34	1	1	NUM
dem-1049	224	35	t	t	NOUN
dem-1049	224	36	t	t	NOUN
dem-1049	224	37	1h	1h	NUM
dem-1049	224	38	r	r	NOUN
dem-1049	224	39	−−	−−	NOUN
dem-1049	224	40	(	(	PUNCT
dem-1049	224	41	n	n	CCONJ
dem-1049	224	42	)	)	PUNCT
dem-1049	224	43	ts	ts	X
dem-1049	224	44	(	(	PUNCT
dem-1049	224	45	1	1	X
dem-1049	224	46	)	)	PUNCT
dem-1049	224	47	tr∆	tr∆	NOUN
dem-1049	224	48	(	(	PUNCT
dem-1049	224	49	)	)	PUNCT
dem-1049	224	50	(	(	PUNCT
dem-1049	224	51	)	)	PUNCT
dem-1049	224	52	n	n	X
dem-1049	224	53	1	1	NUM
dem-1049	224	54	t	t	NOUN
dem-1049	224	55	t	t	NOUN
dem-1049	224	56	1h	1h	NUM
dem-1049	224	57	r	r	NOUN
dem-1049	224	58	−−	−−	NOUN
dem-1049	224	59	(	(	PUNCT
dem-1049	224	60	n	n	CCONJ
dem-1049	224	61	)	)	PUNCT
dem-1049	224	62	ts	ts	X
dem-1049	224	63	(	(	PUNCT
dem-1049	224	64	1	1	X
dem-1049	224	65	)	)	PUNCT
dem-1049	224	66	tr∆	tr∆	NOUN
dem-1049	224	67	(	(	PUNCT
dem-1049	224	68	)	)	PUNCT
dem-1049	224	69	(	(	PUNCT
dem-1049	224	70	)	)	PUNCT
dem-1049	224	71	n	n	X
dem-1049	224	72	1	1	NUM
dem-1049	224	73	t	t	NOUN
dem-1049	224	74	t	t	NOUN
dem-1049	224	75	1h	1h	NUM
dem-1049	224	76	r	r	NOUN
dem-1049	224	77	−−	−−	NOUN
dem-1049	224	78	3	3	NUM
dem-1049	224	79	9	9	NUM
dem-1049	224	80	1.43	1.43	NUM
dem-1049	224	81	0.96	0.96	NUM
dem-1049	224	82	1.07	1.07	NUM
dem-1049	224	83	7.00	7.00	NUM
dem-1049	224	84	6.63	6.63	NUM
dem-1049	224	85	7.39	7.39	NUM
dem-1049	224	86	0.69	0.69	NUM
dem-1049	224	87	0.45	0.45	NUM
dem-1049	224	88	0.28	0.28	NUM
dem-1049	224	89	135.69	135.69	NUM
dem-1049	224	90	(	(	PUNCT
dem-1049	224	91	0.15	0.15	NUM
dem-1049	224	92	)	)	PUNCT
dem-1049	224	93	(	(	PUNCT
dem-1049	224	94	0.49	0.49	NUM
dem-1049	224	95	)	)	PUNCT
dem-1049	224	96	(	(	PUNCT
dem-1049	224	97	0.38	0.38	NUM
dem-1049	224	98	)	)	PUNCT
dem-1049	224	99	(	(	PUNCT
dem-1049	224	100	0.87	0.87	NUM
dem-1049	224	101	)	)	PUNCT
dem-1049	224	102	(	(	PUNCT
dem-1049	224	103	0.88	0.88	NUM
dem-1049	224	104	)	)	PUNCT
dem-1049	224	105	(	(	PUNCT
dem-1049	224	106	0.83	0.83	NUM
dem-1049	224	107	)	)	PUNCT
dem-1049	224	108	(	(	PUNCT
dem-1049	224	109	0.00	0.00	NUM
dem-1049	224	110	)	)	PUNCT
dem-1049	224	111	4	4	NUM
dem-1049	224	112	20	20	NUM
dem-1049	224	113	1.79	1.79	NUM
dem-1049	224	114	1.56	1.56	NUM
dem-1049	224	115	1.42	1.42	NUM
dem-1049	224	116	3.92	3.92	NUM
dem-1049	224	117	3.68	3.68	NUM
dem-1049	224	118	3.78	3.78	NUM
dem-1049	224	119	0.79	0.79	NUM
dem-1049	224	120	0.53	0.53	NUM
dem-1049	224	121	0.42	0.42	NUM
dem-1049	224	122	96.89	96.89	NUM
dem-1049	224	123	(	(	PUNCT
dem-1049	224	124	0.05	0.05	NUM
dem-1049	224	125	)	)	PUNCT
dem-1049	224	126	(	(	PUNCT
dem-1049	224	127	0.11	0.11	NUM
dem-1049	224	128	)	)	PUNCT
dem-1049	224	129	(	(	PUNCT
dem-1049	224	130	0.16	0.16	NUM
dem-1049	224	131	)	)	PUNCT
dem-1049	224	132	(	(	PUNCT
dem-1049	224	133	0.99	0.99	NUM
dem-1049	224	134	)	)	PUNCT
dem-1049	224	135	(	(	PUNCT
dem-1049	224	136	0.99	0.99	NUM
dem-1049	224	137	)	)	PUNCT
dem-1049	224	138	(	(	PUNCT
dem-1049	224	139	0.99	0.99	NUM
dem-1049	224	140	)	)	PUNCT
dem-1049	224	141	(	(	PUNCT
dem-1049	224	142	0.00	0.00	NUM
dem-1049	224	143	)	)	PUNCT
dem-1049	224	144	5	5	NUM
dem-1049	224	145	7	7	NUM
dem-1049	224	146	1.13	1.13	NUM
dem-1049	224	147	0.98	0.98	NUM
dem-1049	224	148	0.94	0.94	NUM
dem-1049	224	149	5.73	5.73	NUM
dem-1049	224	150	9.69	9.69	NUM
dem-1049	224	151	7.35	7.35	NUM
dem-1049	224	152	0.71	0.71	NUM
dem-1049	224	153	0.36	0.36	NUM
dem-1049	224	154	0.20	0.20	NUM
dem-1049	224	155	101.96	101.96	NUM
dem-1049	224	156	(	(	PUNCT
dem-1049	224	157	0.34	0.34	NUM
dem-1049	224	158	)	)	PUNCT
dem-1049	224	159	(	(	PUNCT
dem-1049	224	160	0.47	0.47	NUM
dem-1049	224	161	)	)	PUNCT
dem-1049	224	162	(	(	PUNCT
dem-1049	224	163	0.51	0.51	NUM
dem-1049	224	164	)	)	PUNCT
dem-1049	224	165	(	(	PUNCT
dem-1049	224	166	0.93	0.93	NUM
dem-1049	224	167	)	)	PUNCT
dem-1049	224	168	(	(	PUNCT
dem-1049	224	169	0.64	0.64	NUM
dem-1049	224	170	)	)	PUNCT
dem-1049	224	171	(	(	PUNCT
dem-1049	224	172	0.83	0.83	NUM
dem-1049	224	173	)	)	PUNCT
dem-1049	224	174	(	(	PUNCT
dem-1049	224	175	0.00	0.00	NUM
dem-1049	224	176	)	)	PUNCT
dem-1049	224	177	6	6	NUM
dem-1049	224	178	22	22	NUM
dem-1049	224	179	1.76	1.76	NUM
dem-1049	224	180	1.29	1.29	NUM
dem-1049	224	181	1.57	1.57	NUM
dem-1049	224	182	2.58	2.58	NUM
dem-1049	224	183	3.73	3.73	NUM
dem-1049	224	184	3.93	3.93	NUM
dem-1049	224	185	0.8	0.8	NUM
dem-1049	224	186	0.53	0.53	NUM
dem-1049	224	187	0.23	0.23	NUM
dem-1049	224	188	88.09	88.09	NUM
dem-1049	224	189	(	(	PUNCT
dem-1049	224	190	0.06	0.06	NUM
dem-1049	224	191	)	)	PUNCT
dem-1049	224	192	(	(	PUNCT
dem-1049	224	193	0.23	0.23	NUM
dem-1049	224	194	)	)	PUNCT
dem-1049	224	195	(	(	PUNCT
dem-1049	224	196	0.10	0.10	NUM
dem-1049	224	197	)	)	PUNCT
dem-1049	224	198	(	(	PUNCT
dem-1049	224	199	0.99	0.99	NUM
dem-1049	224	200	)	)	PUNCT
dem-1049	224	201	(	(	PUNCT
dem-1049	224	202	0.99	0.99	NUM
dem-1049	224	203	)	)	PUNCT
dem-1049	224	204	(	(	PUNCT
dem-1049	224	205	0.99	0.99	NUM
dem-1049	224	206	)	)	PUNCT
dem-1049	224	207	(	(	PUNCT
dem-1049	224	208	0.00	0.00	NUM
dem-1049	224	209	)	)	PUNCT
dem-1049	224	210	7	7	NUM
dem-1049	224	211	12	12	NUM
dem-1049	224	212	1.72	1.72	NUM
dem-1049	224	213	1.18	1.18	NUM
dem-1049	224	214	0.99	0.99	NUM
dem-1049	224	215	3.64	3.64	NUM
dem-1049	224	216	3.98	3.98	NUM
dem-1049	224	217	3.57	3.57	NUM
dem-1049	224	218	0.76	0.76	NUM
dem-1049	224	219	0.41	0.41	NUM
dem-1049	224	220	0.22	0.22	NUM
dem-1049	224	221	70.66	70.66	NUM
dem-1049	224	222	(	(	PUNCT
dem-1049	224	223	0.07	0.07	NUM
dem-1049	224	224	)	)	PUNCT
dem-1049	224	225	(	(	PUNCT
dem-1049	224	226	0.30	0.30	NUM
dem-1049	224	227	)	)	PUNCT
dem-1049	224	228	(	(	PUNCT
dem-1049	224	229	0.46	0.46	NUM
dem-1049	224	230	)	)	PUNCT
dem-1049	224	231	(	(	PUNCT
dem-1049	224	232	0.99	0.99	NUM
dem-1049	224	233	)	)	PUNCT
dem-1049	224	234	(	(	PUNCT
dem-1049	224	235	0.98	0.98	NUM
dem-1049	224	236	)	)	PUNCT
dem-1049	224	237	(	(	PUNCT
dem-1049	224	238	0.99	0.99	NUM
dem-1049	224	239	)	)	PUNCT
dem-1049	224	240	(	(	PUNCT
dem-1049	224	241	0.00	0.00	NUM
dem-1049	224	242	)	)	PUNCT
dem-1049	224	243	8	8	NUM
dem-1049	224	244	18	18	NUM
dem-1049	224	245	0.99	0.99	NUM
dem-1049	224	246	1.36	1.36	NUM
dem-1049	224	247	1.33	1.33	NUM
dem-1049	224	248	1.63	1.63	NUM
dem-1049	224	249	3.92	3.92	NUM
dem-1049	224	250	3.86	3.86	NUM
dem-1049	224	251	0.80	0.80	NUM
dem-1049	224	252	0.49	0.49	NUM
dem-1049	224	253	0.38	0.38	NUM
dem-1049	224	254	76.60	76.60	NUM
dem-1049	224	255	(	(	PUNCT
dem-1049	224	256	0.46	0.46	NUM
dem-1049	224	257	)	)	PUNCT
dem-1049	224	258	(	(	PUNCT
dem-1049	224	259	0.187	0.187	NUM
dem-1049	224	260	)	)	PUNCT
dem-1049	224	261	(	(	PUNCT
dem-1049	224	262	0.21	0.21	NUM
dem-1049	224	263	)	)	PUNCT
dem-1049	224	264	(	(	PUNCT
dem-1049	224	265	1.000	1.000	NUM
dem-1049	224	266	)	)	PUNCT
dem-1049	224	267	(	(	PUNCT
dem-1049	224	268	0.99	0.99	NUM
dem-1049	224	269	)	)	PUNCT
dem-1049	224	270	(	(	PUNCT
dem-1049	224	271	0.99	0.99	NUM
dem-1049	224	272	)	)	PUNCT
dem-1049	224	273	(	(	PUNCT
dem-1049	224	274	0.00	0.00	NUM
dem-1049	224	275	)	)	PUNCT
dem-1049	224	276	9	9	NUM
dem-1049	224	277	16	16	NUM
dem-1049	224	278	0.85	0.85	NUM
dem-1049	224	279	1.76	1.76	NUM
dem-1049	224	280	1.70	1.70	NUM
dem-1049	224	281	1.97	1.97	NUM
dem-1049	224	282	4.97	4.97	NUM
dem-1049	224	283	3.47	3.47	NUM
dem-1049	224	284	0.80	0.80	NUM
dem-1049	224	285	0.48	0.48	NUM
dem-1049	224	286	0.27	0.27	NUM
dem-1049	224	287	54.61	54.61	NUM
dem-1049	224	288	(	(	PUNCT
dem-1049	224	289	0.60	0.60	NUM
dem-1049	224	290	)	)	PUNCT
dem-1049	224	291	(	(	PUNCT
dem-1049	224	292	0.06	0.06	NUM
dem-1049	224	293	)	)	PUNCT
dem-1049	224	294	(	(	PUNCT
dem-1049	224	295	0.07	0.07	NUM
dem-1049	224	296	)	)	PUNCT
dem-1049	224	297	(	(	PUNCT
dem-1049	224	298	0.99	0.99	NUM
dem-1049	224	299	)	)	PUNCT
dem-1049	224	300	(	(	PUNCT
dem-1049	224	301	0.96	0.96	NUM
dem-1049	224	302	)	)	PUNCT
dem-1049	224	303	(	(	PUNCT
dem-1049	224	304	0.99	0.99	NUM
dem-1049	224	305	)	)	PUNCT
dem-1049	224	306	(	(	PUNCT
dem-1049	224	307	0.00	0.00	NUM
dem-1049	224	308	)	)	PUNCT
dem-1049	224	309	10	10	NUM
dem-1049	224	310	18	18	NUM
dem-1049	224	311	0.86	0.86	NUM
dem-1049	224	312	1.08	1.08	NUM
dem-1049	224	313	1.15	1.15	NUM
dem-1049	224	314	2.24	2.24	NUM
dem-1049	224	315	3.41	3.41	NUM
dem-1049	224	316	3.39	3.39	NUM
dem-1049	224	317	0.81	0.81	NUM
dem-1049	224	318	0.46	0.46	NUM
dem-1049	224	319	0.35	0.35	NUM
dem-1049	224	320	52.90	52.90	NUM
dem-1049	224	321	(	(	PUNCT
dem-1049	224	322	0.59	0.59	NUM
dem-1049	224	323	)	)	PUNCT
dem-1049	224	324	(	(	PUNCT
dem-1049	224	325	0.38	0.38	NUM
dem-1049	224	326	)	)	PUNCT
dem-1049	224	327	(	(	PUNCT
dem-1049	224	328	0.33	0.33	NUM
dem-1049	224	329	)	)	PUNCT
dem-1049	224	330	(	(	PUNCT
dem-1049	224	331	0.99	0.99	NUM
dem-1049	224	332	)	)	PUNCT
dem-1049	224	333	(	(	PUNCT
dem-1049	224	334	0.99	0.99	NUM
dem-1049	224	335	)	)	PUNCT
dem-1049	224	336	(	(	PUNCT
dem-1049	224	337	0.99	0.99	NUM
dem-1049	224	338	)	)	PUNCT
dem-1049	224	339	(	(	PUNCT
dem-1049	224	340	0.00	0.00	NUM
dem-1049	224	341	)	)	PUNCT
dem-1049	224	342	11	11	NUM
dem-1049	224	343	17	17	NUM
dem-1049	224	344	1.07	1.07	NUM
dem-1049	224	345	1.13	1.13	NUM
dem-1049	224	346	1.02	1.02	NUM
dem-1049	224	347	1.84	1.84	NUM
dem-1049	224	348	3.56	3.56	NUM
dem-1049	224	349	2.32	2.32	NUM
dem-1049	224	350	0.79	0.79	NUM
dem-1049	224	351	0.42	0.42	NUM
dem-1049	224	352	0.30	0.30	NUM
dem-1049	224	353	48.80	48.80	NUM
dem-1049	224	354	(	(	PUNCT
dem-1049	224	355	0.39	0.39	NUM
dem-1049	224	356	)	)	PUNCT
dem-1049	224	357	(	(	PUNCT
dem-1049	224	358	0.34	0.34	NUM
dem-1049	224	359	)	)	PUNCT
dem-1049	224	360	(	(	PUNCT
dem-1049	224	361	0.43	0.43	NUM
dem-1049	224	362	)	)	PUNCT
dem-1049	224	363	(	(	PUNCT
dem-1049	224	364	1.00	1.00	NUM
dem-1049	224	365	)	)	PUNCT
dem-1049	224	366	(	(	PUNCT
dem-1049	224	367	0.99	0.99	NUM
dem-1049	224	368	)	)	PUNCT
dem-1049	224	369	(	(	PUNCT
dem-1049	224	370	0.99	0.99	NUM
dem-1049	224	371	)	)	PUNCT
dem-1049	224	372	(	(	PUNCT
dem-1049	224	373	0.00	0.00	NUM
dem-1049	224	374	)	)	PUNCT
dem-1049	224	375	12	12	NUM
dem-1049	224	376	12	12	NUM
dem-1049	224	377	0.68	0.68	NUM
dem-1049	224	378	1.78	1.78	NUM
dem-1049	224	379	1.57	1.57	NUM
dem-1049	224	380	1.226	1.226	NUM
dem-1049	224	381	4.35	4.35	NUM
dem-1049	224	382	3.21	3.21	NUM
dem-1049	224	383	0.78	0.78	NUM
dem-1049	224	384	0.37	0.37	NUM
dem-1049	224	385	0.19	0.19	NUM
dem-1049	224	386	54.18	54.18	NUM
dem-1049	224	387	(	(	PUNCT
dem-1049	224	388	0.78	0.78	NUM
dem-1049	224	389	)	)	PUNCT
dem-1049	224	390	(	(	PUNCT
dem-1049	224	391	0.05	0.05	NUM
dem-1049	224	392	)	)	PUNCT
dem-1049	224	393	(	(	PUNCT
dem-1049	224	394	0.10	0.10	NUM
dem-1049	224	395	)	)	PUNCT
dem-1049	224	396	(	(	PUNCT
dem-1049	224	397	1.00	1.00	NUM
dem-1049	224	398	)	)	PUNCT
dem-1049	224	399	(	(	PUNCT
dem-1049	224	400	0.98	0.98	NUM
dem-1049	224	401	)	)	PUNCT
dem-1049	224	402	(	(	PUNCT
dem-1049	224	403	0.99	0.99	NUM
dem-1049	224	404	)	)	PUNCT
dem-1049	224	405	(	(	PUNCT
dem-1049	224	406	0.00	0.00	NUM
dem-1049	224	407	)	)	PUNCT
dem-1049	224	408	note	note	NOUN
dem-1049	224	409	:	:	PUNCT
dem-1049	224	410	a	a	X
dem-1049	224	411	)	)	PUNCT
dem-1049	224	412	estimates	estimate	NOUN
dem-1049	224	413	of	of	ADP
dem-1049	224	414	the	the	DET
dem-1049	224	415	breusch	breusch	NOUN
dem-1049	224	416	-	-	PUNCT
dem-1049	224	417	godfrey	godfrey	NOUN
dem-1049	224	418	[	[	PUNCT
dem-1049	224	419	ljung	ljung	PROPN
dem-1049	224	420	-	-	PUNCT
dem-1049	224	421	box	box	NOUN
dem-1049	224	422	]	]	PUNCT
dem-1049	224	423	test	test	NOUN
dem-1049	224	424	statistics	statistic	NOUN
dem-1049	224	425	for	for	ADP
dem-1049	224	426	autocorrelation	autocorrelation	NOUN
dem-1049	224	427	of	of	ADP
dem-1049	224	428	order	order	NOUN
dem-1049	224	429	12	12	NUM
dem-1049	224	430	under	under	ADP
dem-1049	224	431	the	the	DET
dem-1049	224	432	null	null	NOUN
dem-1049	224	433	of	of	ADP
dem-1049	224	434	no	no	DET
dem-1049	224	435	-	-	PUNCT
dem-1049	224	436	autocorrelation	autocorrelation	NOUN
dem-1049	224	437	distributed	distribute	VERB
dem-1049	224	438	as	as	ADP
dem-1049	224	439	(	(	PUNCT
dem-1049	224	440	)	)	PUNCT
dem-1049	224	441	12	12	NUM
dem-1049	224	442	,	,	PUNCT
dem-1049	224	443	3	3	NUM
dem-1049	224	444	1	1	NUM
dem-1049	224	445	12f	12f	NOUN
dem-1049	224	446	t	t	NOUN
dem-1049	224	447	p−	p−	NOUN
dem-1049	224	448	+	+	CCONJ
dem-1049	224	449	−	−	NUM
dem-1049	224	450			NOUN
dem-1049	224	451			PROPN
dem-1049	224	452	[	[	PUNCT
dem-1049	224	453	(	(	PUNCT
dem-1049	224	454	)	)	PUNCT
dem-1049	224	455	2	2	NUM
dem-1049	224	456	12χ	12χ	NOUN
dem-1049	224	457	]	]	PUNCT
dem-1049	224	458	,	,	PUNCT
dem-1049	224	459	t	t	PROPN
dem-1049	224	460	–	–	PUNCT
dem-1049	224	461	number	number	NOUN
dem-1049	224	462	of	of	ADP
dem-1049	224	463	observations	observation	NOUN
dem-1049	224	464	;	;	PUNCT
dem-1049	224	465	relevant	relevant	ADJ
dem-1049	224	466	p	p	NOUN
dem-1049	224	467	-	-	PUNCT
dem-1049	224	468	values	value	NOUN
dem-1049	224	469	in	in	ADP
dem-1049	224	470	brackets	bracket	NOUN
dem-1049	224	471	under	under	ADP
dem-1049	224	472	the	the	DET
dem-1049	224	473	estimates	estimate	NOUN
dem-1049	224	474	;	;	PUNCT
dem-1049	224	475	b	b	X
dem-1049	224	476	)	)	PUNCT
dem-1049	224	477	estimates	estimate	NOUN
dem-1049	224	478	of	of	ADP
dem-1049	224	479	the	the	DET
dem-1049	224	480	wald	wald	PROPN
dem-1049	224	481	test	test	NOUN
dem-1049	224	482	statistics	statistic	NOUN
dem-1049	224	483	for	for	ADP
dem-1049	224	484	granger	granger	PROPN
dem-1049	224	485	noncausality	noncausality	PROPN
dem-1049	224	486	from	from	ADP
dem-1049	224	487	(	(	PUNCT
dem-1049	224	488	)	)	PUNCT
dem-1049	224	489	n	n	CCONJ
dem-1049	224	490	ts	ts	X
dem-1049	224	491	to	to	PART
dem-1049	224	492	(	(	PUNCT
dem-1049	224	493	)	)	PUNCT
dem-1049	224	494	1	1	NUM
dem-1049	224	495	tr∆	tr∆	NOUN
dem-1049	224	496	under	under	ADP
dem-1049	224	497	the	the	DET
dem-1049	224	498	null	null	ADJ
dem-1049	224	499	distributed	distribute	VERB
dem-1049	224	500	as	as	ADP
dem-1049	224	501	(	(	PUNCT
dem-1049	224	502	)	)	PUNCT
dem-1049	224	503	2	2	NUM
dem-1049	224	504	pχ	pχ	NOUN
dem-1049	224	505	variable	variable	NOUN
dem-1049	224	506	;	;	PUNCT
dem-1049	224	507	relevant	relevant	ADJ
dem-1049	224	508	p	p	NOUN
dem-1049	224	509	-	-	PUNCT
dem-1049	224	510	values	value	NOUN
dem-1049	224	511	in	in	ADP
dem-1049	224	512	brackets	bracket	NOUN
dem-1049	224	513	under	under	ADP
dem-1049	224	514	the	the	DET
dem-1049	224	515	estimates	estimate	NOUN
dem-1049	224	516	.	.	PUNCT
dem-1049	225	1	the	the	DET
dem-1049	225	2	expectations	expectation	NOUN
dem-1049	225	3	hypothesis	hypothesis	NOUN
dem-1049	225	4	of	of	ADP
dem-1049	225	5	the	the	DET
dem-1049	225	6	term	term	NOUN
dem-1049	225	7	structure	structure	NOUN
dem-1049	225	8	of	of	ADP
dem-1049	225	9	libor	libor	PROPN
dem-1049	225	10	us	us	PROPN
dem-1049	225	11	dollar	dollar	NOUN
dem-1049	225	12	interest	interest	NOUN
dem-1049	225	13	rates	rate	NOUN
dem-1049	225	14	dynamic	dynamic	ADJ
dem-1049	225	15	econometric	econometric	ADJ
dem-1049	225	16	models	model	NOUN
dem-1049	225	17	12	12	NUM
dem-1049	225	18	(	(	PUNCT
dem-1049	225	19	2012	2012	NUM
dem-1049	225	20	)	)	PUNCT
dem-1049	225	21	5–17	5–17	NOUN
dem-1049	225	22	15	15	NUM
dem-1049	225	23	table	table	NOUN
dem-1049	225	24	2	2	NUM
dem-1049	225	25	.	.	NOUN
dem-1049	225	26	var	var	NOUN
dem-1049	225	27	restrictions	restriction	NOUN
dem-1049	225	28	and	and	CCONJ
dem-1049	225	29	other	other	ADJ
dem-1049	225	30	metrics	metric	NOUN
dem-1049	225	31	,	,	PUNCT
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dem-1049	225	33	decomposition	decomposition	NOUN
dem-1049	225	34	n	n	PRON
dem-1049	225	35	excess	excess	ADJ
dem-1049	225	36	one	one	NUM
dem-1049	225	37	period	period	NOUN
dem-1049	225	38	holding	hold	VERB
dem-1049	225	39	period	period	NOUN
dem-1049	225	40	return	return	NOUN
dem-1049	225	41	not	not	PART
dem-1049	225	42	time	time	NOUN
dem-1049	225	43	varying	vary	VERB
dem-1049	225	44	actual	actual	ADJ
dem-1049	225	45	(	(	PUNCT
dem-1049	225	46	n)st	n)st	PROPN
dem-1049	225	47	and	and	CCONJ
dem-1049	225	48	theoretical	theoretical	ADJ
dem-1049	225	49	*	*	PUNCT
dem-1049	225	50	(	(	PUNCT
dem-1049	225	51	n)st	n)st	PROPN
dem-1049	225	52	spread	spread	VERB
dem-1049	225	53	news	news	NOUN
dem-1049	225	54	about	about	ADP
dem-1049	225	55	future	future	ADJ
dem-1049	225	56	short	short	ADJ
dem-1049	225	57	rates	rate	NOUN
dem-1049	225	58	and	and	CCONJ
dem-1049	225	59	one	one	NUM
dem-1049	225	60	period	period	NOUN
dem-1049	225	61	returns	return	NOUN
dem-1049	225	62	*	*	PUNCT
dem-1049	225	63	(	(	PUNCT
dem-1049	225	64	n	n	CCONJ
dem-1049	225	65	)	)	PUNCT
dem-1049	225	66	(	(	PUNCT
dem-1049	225	67	n)s	n)s	X
dem-1049	225	68	=	=	X
dem-1049	225	69	st	st	PROPN
dem-1049	225	70	t	t	PROPN
dem-1049	225	71	2	2	NUM
dem-1049	225	72	2	2	NUM
dem-1049	225	73	*	*	PUNCT
dem-1049	225	74	(	(	PUNCT
dem-1049	225	75	n	n	CCONJ
dem-1049	225	76	)	)	PUNCT
dem-1049	225	77	t	t	NOUN
dem-1049	225	78	(	(	PUNCT
dem-1049	225	79	n	n	CCONJ
dem-1049	225	80	)	)	PUNCT
dem-1049	225	81	t	t	PROPN
dem-1049	225	82	s	s	NOUN
dem-1049	225	83	s	s	NOUN
dem-1049	225	84			PROPN
dem-1049	225	85	σ	σ	NOUN
dem-1049	225	86			NOUN
dem-1049	225	87			PROPN
dem-1049	225	88			NOUN
dem-1049	225	89	σ	σ	NOUN
dem-1049	225	90			NOUN
dem-1049	225	91			NOUN
dem-1049	225	92			NOUN
dem-1049	225	93	ρ	ρ	ADP
dem-1049	225	94			PROPN
dem-1049	225	95	*	*	ADJ
dem-1049	225	96	(	(	PUNCT
dem-1049	225	97	n	n	CCONJ
dem-1049	225	98	)	)	PUNCT
dem-1049	225	99	(	(	PUNCT
dem-1049	225	100	n	n	CCONJ
dem-1049	225	101	)	)	PUNCT
dem-1049	225	102	t	t	NOUN
dem-1049	225	103	ts	ts	ADP
dem-1049	225	104	,	,	PUNCT
dem-1049	225	105	s	s	PROPN
dem-1049	225	106	b	b	NOUN
dem-1049	225	107	)	)	PUNCT
dem-1049	225	108	(	(	PUNCT
dem-1049	225	109	)	)	PUNCT
dem-1049	225	110	(	(	PUNCT
dem-1049	225	111	)	)	PUNCT
dem-1049	225	112	12	12	NUM
dem-1049	225	113	t	t	NOUN
dem-1049	225	114	1	1	NUM
dem-1049	225	115	n2	n2	NOUN
dem-1049	225	116	t	t	PROPN
dem-1049	225	117	1	1	NUM
dem-1049	225	118	er	er	INTJ
dem-1049	225	119	eh	eh	INTJ
dem-1049	225	120	+	+	ADJ
dem-1049	225	121	+	+	NUM
dem-1049	225	122			NOUN
dem-1049	225	123	σ	σ	ADJ
dem-1049	225	124			NOUN
dem-1049	226	1			PROPN
dem-1049	226	2			NOUN
dem-1049	226	3	σ	σ	NOUN
dem-1049	226	4			NOUN
dem-1049	226	5			PROPN
dem-1049	226	6	(	(	PUNCT
dem-1049	226	7	)	)	PUNCT
dem-1049	226	8	(	(	PUNCT
dem-1049	226	9	)	)	PUNCT
dem-1049	227	1	+	+	CCONJ
dem-1049	227	2	+	+	NUM
dem-1049	227	3			NOUN
dem-1049	227	4	ρ	ρ	PUNCT
dem-1049	227	5			PROPN
dem-1049	227	6	1	1	NUM
dem-1049	227	7	n	n	NOUN
dem-1049	227	8	t	t	NOUN
dem-1049	227	9	1	1	NUM
dem-1049	227	10	t	t	NOUN
dem-1049	227	11	1er	1er	NOUN
dem-1049	227	12	,	,	PUNCT
dem-1049	227	13	eh	eh	INTJ
dem-1049	227	14	b	b	X
dem-1049	227	15	)	)	PUNCT
dem-1049	227	16	e3	e3	VERB
dem-1049	227	17	a=0′	a=0′	PROPN
dem-1049	227	18	a	a	NOUN
dem-1049	227	19	)	)	PUNCT
dem-1049	227	20	vr	vr	PROPN
dem-1049	227	21	ci	ci	PROPN
dem-1049	227	22	vr	vr	PROPN
dem-1049	227	23	ci	ci	PROPN
dem-1049	227	24	3	3	NUM
dem-1049	227	25	w(27)=90.37	w(27)=90.37	PROPN
dem-1049	227	26	w(27)=93.57	w(27)=93.57	NOUN
dem-1049	227	27	0.91	0.91	NUM
dem-1049	227	28	0.61	0.61	NUM
dem-1049	227	29	0.71	0.71	NUM
dem-1049	227	30	1.28	1.28	NUM
dem-1049	227	31	1.12	1.12	NUM
dem-1049	227	32	-0.99	-0.99	NOUN
dem-1049	227	33	(	(	PUNCT
dem-1049	227	34	0.00	0.00	NUM
dem-1049	227	35	)	)	PUNCT
dem-1049	227	36	(	(	PUNCT
dem-1049	227	37	0.00	0.00	NUM
dem-1049	227	38	)	)	PUNCT
dem-1049	227	39	(	(	PUNCT
dem-1049	227	40	0.26	0.26	NUM
dem-1049	227	41	)	)	PUNCT
dem-1049	227	42	1.62	1.62	NUM
dem-1049	227	43	(	(	PUNCT
dem-1049	227	44	0.10	0.10	NUM
dem-1049	227	45	)	)	PUNCT
dem-1049	227	46	(	(	PUNCT
dem-1049	227	47	0.08	0.08	NUM
dem-1049	227	48	)	)	PUNCT
dem-1049	227	49	1.45	1.45	NUM
dem-1049	227	50	(	(	PUNCT
dem-1049	227	51	0.00	0.00	NUM
dem-1049	227	52	)	)	PUNCT
dem-1049	227	53	4	4	NUM
dem-1049	227	54	w(60)=138.15	w(60)=138.15	NOUN
dem-1049	227	55	w(60)=182.80	w(60)=182.80	NOUN
dem-1049	228	1	1.22	1.22	NUM
dem-1049	228	2	0.69	0.69	NUM
dem-1049	228	3	0.60	0.60	NUM
dem-1049	228	4	1.31	1.31	NUM
dem-1049	228	5	1.04	1.04	NUM
dem-1049	228	6	-0.98	-0.98	NUM
dem-1049	228	7	(	(	PUNCT
dem-1049	228	8	0.00	0.00	NUM
dem-1049	228	9	)	)	PUNCT
dem-1049	228	10	(	(	PUNCT
dem-1049	228	11	0.00	0.00	NUM
dem-1049	228	12	)	)	PUNCT
dem-1049	228	13	(	(	PUNCT
dem-1049	228	14	0.41	0.41	NUM
dem-1049	228	15	)	)	PUNCT
dem-1049	228	16	2.28	2.28	NUM
dem-1049	228	17	(	(	PUNCT
dem-1049	228	18	0.10	0.10	NUM
dem-1049	228	19	)	)	PUNCT
dem-1049	228	20	(	(	PUNCT
dem-1049	228	21	0.14	0.14	NUM
dem-1049	228	22	)	)	PUNCT
dem-1049	228	23	1.60	1.60	NUM
dem-1049	228	24	(	(	PUNCT
dem-1049	228	25	0.01	0.01	NUM
dem-1049	228	26	)	)	PUNCT
dem-1049	228	27	5	5	NUM
dem-1049	228	28	w(21)=60.33	w(21)=60.33	PROPN
dem-1049	228	29	w(21)=50.64	w(21)=50.64	VERB
dem-1049	228	30	0.90	0.90	NUM
dem-1049	228	31	0.51	0.51	NUM
dem-1049	228	32	0.72	0.72	NUM
dem-1049	228	33	1.33	1.33	NUM
dem-1049	228	34	1.03	1.03	NUM
dem-1049	228	35	-0.98	-0.98	NUM
dem-1049	228	36	(	(	PUNCT
dem-1049	228	37	0.00	0.00	NUM
dem-1049	228	38	)	)	PUNCT
dem-1049	228	39	(	(	PUNCT
dem-1049	228	40	0.00	0.00	NUM
dem-1049	228	41	)	)	PUNCT
dem-1049	228	42	(	(	PUNCT
dem-1049	228	43	0.31	0.31	NUM
dem-1049	228	44	)	)	PUNCT
dem-1049	228	45	1.73	1.73	NUM
dem-1049	228	46	(	(	PUNCT
dem-1049	228	47	0.12	0.12	NUM
dem-1049	228	48	)	)	PUNCT
dem-1049	228	49	(	(	PUNCT
dem-1049	228	50	0.15	0.15	NUM
dem-1049	228	51	)	)	PUNCT
dem-1049	228	52	1.63	1.63	NUM
dem-1049	228	53	(	(	PUNCT
dem-1049	228	54	0.01	0.01	NUM
dem-1049	228	55	)	)	PUNCT
dem-1049	228	56	6	6	NUM
dem-1049	228	57	w(66)=278.42	w(66)=278.42	NOUN
dem-1049	228	58	w(66)=161.53	w(66)=161.53	VERB
dem-1049	228	59	1.28	1.28	NUM
dem-1049	228	60	0.76	0.76	NUM
dem-1049	228	61	0.58	0.58	NUM
dem-1049	228	62	1.64	1.64	NUM
dem-1049	228	63	1.20	1.20	NUM
dem-1049	228	64	-0.99	-0.99	NOUN
dem-1049	228	65	(	(	PUNCT
dem-1049	228	66	0.00	0.00	NUM
dem-1049	228	67	)	)	PUNCT
dem-1049	228	68	(	(	PUNCT
dem-1049	228	69	0.00	0.00	NUM
dem-1049	228	70	)	)	PUNCT
dem-1049	228	71	(	(	PUNCT
dem-1049	228	72	0.47	0.47	NUM
dem-1049	228	73	)	)	PUNCT
dem-1049	228	74	2.60	2.60	NUM
dem-1049	228	75	(	(	PUNCT
dem-1049	228	76	0.12	0.12	NUM
dem-1049	228	77	)	)	PUNCT
dem-1049	228	78	(	(	PUNCT
dem-1049	228	79	0.23	0.23	NUM
dem-1049	228	80	)	)	PUNCT
dem-1049	228	81	2.10	2.10	NUM
dem-1049	228	82	(	(	PUNCT
dem-1049	228	83	0.01	0.01	NUM
dem-1049	228	84	)	)	PUNCT
dem-1049	228	85	7	7	NUM
dem-1049	228	86	w(36)=114.86	w(36)=114.86	NOUN
dem-1049	228	87	w(36)=73.69	w(36)=73.69	PROPN
dem-1049	228	88	1.14	1.14	NUM
dem-1049	228	89	0.55	0.55	NUM
dem-1049	228	90	0.70	0.70	NUM
dem-1049	228	91	1.57	1.57	NUM
dem-1049	228	92	1.10	1.10	NUM
dem-1049	228	93	-0.98	-0.98	NUM
dem-1049	228	94	(	(	PUNCT
dem-1049	228	95	0.00	0.00	NUM
dem-1049	228	96	)	)	PUNCT
dem-1049	228	97	(	(	PUNCT
dem-1049	228	98	0.00	0.00	NUM
dem-1049	228	99	)	)	PUNCT
dem-1049	228	100	(	(	PUNCT
dem-1049	228	101	0.47	0.47	NUM
dem-1049	228	102	)	)	PUNCT
dem-1049	228	103	2.36	2.36	NUM
dem-1049	228	104	(	(	PUNCT
dem-1049	228	105	0.13	0.13	NUM
dem-1049	228	106	)	)	PUNCT
dem-1049	228	107	(	(	PUNCT
dem-1049	228	108	0.24	0.24	NUM
dem-1049	228	109	)	)	PUNCT
dem-1049	228	110	2.03	2.03	NUM
dem-1049	228	111	(	(	PUNCT
dem-1049	228	112	0.02	0.02	NUM
dem-1049	228	113	)	)	PUNCT
dem-1049	228	114	8	8	NUM
dem-1049	228	115	w(54)=177.26	w(54)=177.26	NOUN
dem-1049	228	116	w(54)=135.30	w(54)=135.30	VERB
dem-1049	228	117	1.82	1.82	NUM
dem-1049	228	118	1.09	1.09	NUM
dem-1049	228	119	0.52	0.52	NUM
dem-1049	228	120	1.50	1.50	NUM
dem-1049	228	121	1.02	1.02	NUM
dem-1049	228	122	-0.96	-0.96	NUM
dem-1049	228	123	(	(	PUNCT
dem-1049	228	124	0.00	0.00	NUM
dem-1049	228	125	)	)	PUNCT
dem-1049	228	126	(	(	PUNCT
dem-1049	228	127	0.00	0.00	NUM
dem-1049	228	128	)	)	PUNCT
dem-1049	228	129	(	(	PUNCT
dem-1049	228	130	0.75	0.75	NUM
dem-1049	228	131	)	)	PUNCT
dem-1049	228	132	3.96	3.96	NUM
dem-1049	228	133	(	(	PUNCT
dem-1049	228	134	0.09	0.09	NUM
dem-1049	228	135	)	)	PUNCT
dem-1049	228	136	(	(	PUNCT
dem-1049	228	137	0.29	0.29	NUM
dem-1049	228	138	)	)	PUNCT
dem-1049	228	139	2.00	2.00	NUM
dem-1049	228	140	(	(	PUNCT
dem-1049	228	141	0.03	0.03	NUM
dem-1049	228	142	)	)	PUNCT
dem-1049	228	143	9	9	NUM
dem-1049	229	1	w(48)=161.83	w(48)=161.83	NOUN
dem-1049	229	2	w(48)=103.48	w(48)=103.48	VERB
dem-1049	229	3	1.42	1.42	NUM
dem-1049	229	4	0.67	0.67	NUM
dem-1049	229	5	0.64	0.64	NUM
dem-1049	229	6	1.58	1.58	NUM
dem-1049	229	7	1.04	1.04	NUM
dem-1049	229	8	-0.99	-0.99	NOUN
dem-1049	229	9	(	(	PUNCT
dem-1049	229	10	0.00	0.00	NUM
dem-1049	229	11	)	)	PUNCT
dem-1049	229	12	(	(	PUNCT
dem-1049	229	13	0.00	0.00	NUM
dem-1049	229	14	)	)	PUNCT
dem-1049	229	15	(	(	PUNCT
dem-1049	229	16	0.61	0.61	NUM
dem-1049	229	17	)	)	PUNCT
dem-1049	229	18	3.03	3.03	NUM
dem-1049	229	19	(	(	PUNCT
dem-1049	229	20	0.13	0.13	NUM
dem-1049	229	21	)	)	PUNCT
dem-1049	229	22	(	(	PUNCT
dem-1049	229	23	0.27	0.27	NUM
dem-1049	229	24	)	)	PUNCT
dem-1049	229	25	2.10	2.10	NUM
dem-1049	229	26	(	(	PUNCT
dem-1049	229	27	0.02	0.02	NUM
dem-1049	229	28	)	)	PUNCT
dem-1049	229	29	10	10	NUM
dem-1049	229	30	w(54)=139.17	w(54)=139.17	ADJ
dem-1049	229	31	w(54)=96.06	w(54)=96.06	PROPN
dem-1049	229	32	1.99	1.99	NUM
dem-1049	229	33	1.48	1.48	NUM
dem-1049	229	34	0.51	0.51	NUM
dem-1049	229	35	1.53	1.53	NUM
dem-1049	229	36	1.04	1.04	NUM
dem-1049	229	37	-0.99	-0.99	NOUN
dem-1049	229	38	(	(	PUNCT
dem-1049	229	39	0.00	0.00	NUM
dem-1049	229	40	)	)	PUNCT
dem-1049	229	41	(	(	PUNCT
dem-1049	229	42	0.00	0.00	NUM
dem-1049	229	43	)	)	PUNCT
dem-1049	229	44	(	(	PUNCT
dem-1049	229	45	0.90	0.90	NUM
dem-1049	229	46	)	)	PUNCT
dem-1049	229	47	4.80	4.80	NUM
dem-1049	229	48	(	(	PUNCT
dem-1049	229	49	0.08	0.08	NUM
dem-1049	229	50	)	)	PUNCT
dem-1049	229	51	(	(	PUNCT
dem-1049	229	52	0.26	0.26	NUM
dem-1049	229	53	)	)	PUNCT
dem-1049	229	54	2.08	2.08	NUM
dem-1049	229	55	(	(	PUNCT
dem-1049	229	56	0.02	0.02	NUM
dem-1049	229	57	)	)	PUNCT
dem-1049	229	58	11	11	NUM
dem-1049	229	59	w(51)=89.64	w(51)=89.64	NOUN
dem-1049	229	60	w(51)=123.33	w(51)=123.33	ADP
dem-1049	229	61	2.14	2.14	NUM
dem-1049	229	62	1.36	1.36	NUM
dem-1049	229	63	0.50	0.50	NUM
dem-1049	229	64	1.41	1.41	NUM
dem-1049	229	65	0.96	0.96	NUM
dem-1049	229	66	-0.99	-0.99	NOUN
dem-1049	229	67	(	(	PUNCT
dem-1049	229	68	0.01	0.01	NUM
dem-1049	229	69	)	)	PUNCT
dem-1049	229	70	(	(	PUNCT
dem-1049	229	71	0.00	0.00	NUM
dem-1049	229	72	)	)	PUNCT
dem-1049	229	73	(	(	PUNCT
dem-1049	229	74	1.46	1.46	NUM
dem-1049	229	75	)	)	PUNCT
dem-1049	229	76	6.83	6.83	NUM
dem-1049	229	77	(	(	PUNCT
dem-1049	229	78	0.11	0.11	NUM
dem-1049	229	79	)	)	PUNCT
dem-1049	229	80	(	(	PUNCT
dem-1049	229	81	0.24	0.24	NUM
dem-1049	229	82	)	)	PUNCT
dem-1049	229	83	1.92	1.92	NUM
dem-1049	229	84	(	(	PUNCT
dem-1049	229	85	0.01	0.01	NUM
dem-1049	229	86	)	)	PUNCT
dem-1049	229	87	12	12	NUM
dem-1049	229	88	w(36)=52.23	w(36)=52.23	PROPN
dem-1049	229	89	w(36)=49.85	w(36)=49.85	PROPN
dem-1049	229	90	1.41	1.41	NUM
dem-1049	229	91	0.60	0.60	NUM
dem-1049	229	92	0.74	0.74	NUM
dem-1049	229	93	1.70	1.70	NUM
dem-1049	229	94	1.03	1.03	NUM
dem-1049	229	95	-0.99	-0.99	NOUN
dem-1049	229	96	(	(	PUNCT
dem-1049	229	97	0.04	0.04	NUM
dem-1049	229	98	)	)	PUNCT
dem-1049	229	99	(	(	PUNCT
dem-1049	229	100	0.06	0.06	NUM
dem-1049	229	101	)	)	PUNCT
dem-1049	229	102	(	(	PUNCT
dem-1049	229	103	0.69	0.69	NUM
dem-1049	229	104	)	)	PUNCT
dem-1049	229	105	3.24	3.24	NUM
dem-1049	229	106	(	(	PUNCT
dem-1049	229	107	0.15	0.15	NUM
dem-1049	229	108	)	)	PUNCT
dem-1049	229	109	(	(	PUNCT
dem-1049	229	110	0.35	0.35	NUM
dem-1049	229	111	)	)	PUNCT
dem-1049	229	112	2.36	2.36	NUM
dem-1049	229	113	(	(	PUNCT
dem-1049	229	114	0.01	0.01	NUM
dem-1049	229	115	)	)	PUNCT
dem-1049	229	116	note	note	NOUN
dem-1049	229	117	:	:	PUNCT
dem-1049	229	118	a	a	X
dem-1049	229	119	)	)	PUNCT
dem-1049	229	120	relevant	relevant	ADJ
dem-1049	229	121	p	p	NOUN
dem-1049	229	122	-	-	PUNCT
dem-1049	229	123	values	value	NOUN
dem-1049	229	124	in	in	ADP
dem-1049	229	125	brackets	bracket	NOUN
dem-1049	229	126	under	under	ADP
dem-1049	229	127	the	the	DET
dem-1049	229	128	wald	wald	PROPN
dem-1049	229	129	test	test	NOUN
dem-1049	229	130	statistics	statistics	PROPN
dem-1049	229	131	estimates	estimate	VERB
dem-1049	229	132	;	;	PUNCT
dem-1049	229	133	b	b	X
dem-1049	229	134	)	)	PUNCT
dem-1049	229	135	ρ	ρ	PROPN
dem-1049	229	136	–	–	PUNCT
dem-1049	229	137	linear	linear	ADJ
dem-1049	229	138	correlation	correlation	NOUN
dem-1049	229	139	coefficient	coefficient	NOUN
dem-1049	229	140	.	.	PUNCT
dem-1049	230	1	relevant	relevant	ADJ
dem-1049	230	2	standard	standard	ADJ
dem-1049	230	3	errors	error	NOUN
dem-1049	230	4	from	from	ADP
dem-1049	230	5	the	the	DET
dem-1049	230	6	bootstrap	bootstrap	NOUN
dem-1049	230	7	under	under	ADP
dem-1049	230	8	the	the	DET
dem-1049	230	9	variance	variance	NOUN
dem-1049	230	10	ratio	ratio	NOUN
dem-1049	230	11	vr	vr	PROPN
dem-1049	230	12	and	and	CCONJ
dem-1049	230	13	correlation	correlation	NOUN
dem-1049	230	14	coefficient	coefficient	NOUN
dem-1049	230	15	ρ	ρ	PROPN
dem-1049	230	16	estimates	estimate	NOUN
dem-1049	230	17	.	.	PUNCT
dem-1049	231	1	ci	ci	NOUN
dem-1049	231	2	–	–	PUNCT
dem-1049	231	3	95	95	NUM
dem-1049	231	4	per	per	ADP
dem-1049	231	5	cent	cent	NOUN
dem-1049	231	6	confidence	confidence	NOUN
dem-1049	231	7	interval	interval	NOUN
dem-1049	231	8	from	from	ADP
dem-1049	231	9	the	the	DET
dem-1049	231	10	bootstrap	bootstrap	NOUN
dem-1049	231	11	.	.	PUNCT
dem-1049	232	1	-1	-1	X
dem-1049	233	1	-.5	-.5	PROPN
dem-1049	233	2	0	0	NUM
dem-1049	233	3	.5	.5	NUM
dem-1049	233	4	1	1	NUM
dem-1049	233	5	th	th	X
dem-1049	233	6	eo	eo	X
dem-1049	233	7	re	re	PROPN
dem-1049	233	8	tic	tic	PROPN
dem-1049	233	9	al	al	PROPN
dem-1049	233	10	-.5	-.5	PROPN
dem-1049	233	11	0	0	NUM
dem-1049	233	12	.5	.5	NUM
dem-1049	233	13	1	1	NUM
dem-1049	233	14	actual	actual	ADJ
dem-1049	233	15	-1	-1	NOUN
dem-1049	233	16	-.5	-.5	PROPN
dem-1049	233	17	0	0	NUM
dem-1049	233	18	.5	.5	NUM
dem-1049	233	19	1	1	NUM
dem-1049	233	20	0	0	NUM
dem-1049	233	21	100	100	NUM
dem-1049	233	22	200	200	NUM
dem-1049	233	23	300	300	NUM
dem-1049	233	24	actual	actual	ADJ
dem-1049	233	25	_	_	PUNCT
dem-1049	234	1	_	_	PUNCT
dem-1049	235	1	theoretical	theoretical	ADJ
dem-1049	235	2	figure	figure	NOUN
dem-1049	235	3	1	1	NUM
dem-1049	235	4	.	.	PUNCT
dem-1049	235	5	actual	actual	ADJ
dem-1049	235	6	and	and	CCONJ
dem-1049	235	7	theoretical	theoretical	ADJ
dem-1049	235	8	spread	spread	NOUN
dem-1049	235	9	(	(	PUNCT
dem-1049	235	10	4	4	NUM
dem-1049	235	11	vs.	vs.	ADP
dem-1049	235	12	1	1	NUM
dem-1049	235	13	-	-	PUNCT
dem-1049	235	14	month	month	NOUN
dem-1049	235	15	us	us	PROPN
dem-1049	235	16	dollar	dollar	PROPN
dem-1049	235	17	libor	libor	PROPN
dem-1049	235	18	)	)	PUNCT
dem-1049	235	19	maria	maria	PROPN
dem-1049	235	20	blangiewicz	blangiewicz	PROPN
dem-1049	235	21	,	,	PUNCT
dem-1049	235	22	paweł	paweł	VERB
dem-1049	235	23	miłobędzki	miłobędzki	PROPN
dem-1049	235	24	dynamic	dynamic	ADJ
dem-1049	235	25	econometric	econometric	ADJ
dem-1049	235	26	models	model	NOUN
dem-1049	235	27	12	12	NUM
dem-1049	235	28	(	(	PUNCT
dem-1049	235	29	2012	2012	NUM
dem-1049	235	30	)	)	PUNCT
dem-1049	235	31	5–17	5–17	NOUN
dem-1049	235	32	16	16	NUM
dem-1049	236	1	-2	-2	INTJ
dem-1049	237	1	-1	-1	NOUN
dem-1049	237	2	0	0	NUM
dem-1049	237	3	1	1	NUM
dem-1049	237	4	2	2	NUM
dem-1049	238	1	th	th	NUM
dem-1049	238	2	eo	eo	X
dem-1049	238	3	re	re	PROPN
dem-1049	238	4	tic	tic	PROPN
dem-1049	238	5	al	al	PROPN
dem-1049	238	6	-1	-1	PROPN
dem-1049	238	7	-.5	-.5	PROPN
dem-1049	238	8	0	0	NUM
dem-1049	238	9	.5	.5	NUM
dem-1049	238	10	1	1	NUM
dem-1049	238	11	1.5	1.5	NUM
dem-1049	238	12	actual	actual	ADJ
dem-1049	238	13	-2	-2	INTJ
dem-1049	238	14	-1	-1	NOUN
dem-1049	238	15	0	0	NUM
dem-1049	238	16	1	1	NUM
dem-1049	238	17	2	2	NUM
dem-1049	238	18	0	0	NUM
dem-1049	238	19	100	100	NUM
dem-1049	238	20	200	200	NUM
dem-1049	238	21	300	300	NUM
dem-1049	238	22	actual	actual	ADJ
dem-1049	238	23	_	_	PUNCT
dem-1049	238	24	_	_	PUNCT
dem-1049	239	1	theoretical	theoretical	ADJ
dem-1049	239	2	figure	figure	NOUN
dem-1049	239	3	2	2	NUM
dem-1049	239	4	.	.	NOUN
dem-1049	239	5	actual	actual	ADJ
dem-1049	239	6	and	and	CCONJ
dem-1049	239	7	theoretical	theoretical	ADJ
dem-1049	239	8	spread	spread	NOUN
dem-1049	239	9	(	(	PUNCT
dem-1049	239	10	12	12	NUM
dem-1049	239	11	vs.	vs.	NOUN
dem-1049	239	12	1	1	NUM
dem-1049	239	13	-	-	PUNCT
dem-1049	239	14	month	month	NOUN
dem-1049	239	15	us	us	PROPN
dem-1049	239	16	dollar	dollar	PROPN
dem-1049	239	17	libor	libor	PROPN
dem-1049	239	18	)	)	PUNCT
dem-1049	239	19	references	reference	NOUN
dem-1049	239	20	bekaert	bekaert	NOUN
dem-1049	239	21	,	,	PUNCT
dem-1049	239	22	g.	g.	PROPN
dem-1049	239	23	,	,	PUNCT
dem-1049	239	24	hodrick	hodrick	PROPN
dem-1049	239	25	,	,	PUNCT
dem-1049	239	26	r.	r.	PROPN
dem-1049	239	27	j.	j.	PROPN
dem-1049	239	28	(	(	PUNCT
dem-1049	239	29	2001	2001	NUM
dem-1049	239	30	)	)	PUNCT
dem-1049	239	31	,	,	PUNCT
dem-1049	239	32	expectations	expectation	NOUN
dem-1049	239	33	hypotheses	hypothesis	NOUN
dem-1049	239	34	tests	test	NOUN
dem-1049	239	35	,	,	PUNCT
dem-1049	239	36	journal	journal	NOUN
dem-1049	239	37	of	of	ADP
dem-1049	239	38	finance	finance	NOUN
dem-1049	239	39	,	,	PUNCT
dem-1049	239	40	56	56	NUM
dem-1049	239	41	,	,	PUNCT
dem-1049	239	42	1357	1357	NUM
dem-1049	239	43	–	–	PUNCT
dem-1049	239	44	1394	1394	NUM
dem-1049	239	45	.	.	PUNCT
dem-1049	240	1	bekaert	bekaert	NOUN
dem-1049	240	2	,	,	PUNCT
dem-1049	240	3	g.	g.	PROPN
dem-1049	240	4	,	,	PUNCT
dem-1049	240	5	hodrick	hodrick	PROPN
dem-1049	240	6	,	,	PUNCT
dem-1049	240	7	r.	r.	PROPN
dem-1049	240	8	j.	j.	PROPN
dem-1049	240	9	,	,	PUNCT
dem-1049	240	10	marshall	marshall	PROPN
dem-1049	240	11	,	,	PUNCT
dem-1049	240	12	d.	d.	PROPN
dem-1049	240	13	(	(	PUNCT
dem-1049	240	14	1997	1997	NUM
dem-1049	240	15	)	)	PUNCT
dem-1049	240	16	,	,	PUNCT
dem-1049	240	17	on	on	ADP
dem-1049	240	18	biases	bias	NOUN
dem-1049	240	19	in	in	ADP
dem-1049	240	20	tests	test	NOUN
dem-1049	240	21	of	of	ADP
dem-1049	240	22	the	the	DET
dem-1049	240	23	expectations	expectation	NOUN
dem-1049	240	24	hypothesis	hypothesis	NOUN
dem-1049	240	25	of	of	ADP
dem-1049	240	26	the	the	DET
dem-1049	240	27	term	term	NOUN
dem-1049	240	28	structure	structure	NOUN
dem-1049	240	29	of	of	ADP
dem-1049	240	30	interest	interest	NOUN
dem-1049	240	31	rates	rate	NOUN
dem-1049	240	32	,	,	PUNCT
dem-1049	240	33	journal	journal	NOUN
dem-1049	240	34	of	of	ADP
dem-1049	240	35	financial	financial	ADJ
dem-1049	240	36	economics	economic	NOUN
dem-1049	240	37	,	,	PUNCT
dem-1049	240	38	44	44	NUM
dem-1049	240	39	,	,	PUNCT
dem-1049	240	40	309–348	309–348	NUM
dem-1049	240	41	.	.	PUNCT
dem-1049	241	1	blangiewicz	blangiewicz	PROPN
dem-1049	241	2	,	,	PUNCT
dem-1049	241	3	m.	m.	NOUN
dem-1049	241	4	,	,	PUNCT
dem-1049	241	5	miłobędzki	miłobędzki	NOUN
dem-1049	241	6	,	,	PUNCT
dem-1049	241	7	p.	p.	NOUN
dem-1049	241	8	(	(	PUNCT
dem-1049	241	9	2009	2009	NUM
dem-1049	241	10	)	)	PUNCT
dem-1049	241	11	,	,	PUNCT
dem-1049	241	12	the	the	DET
dem-1049	241	13	rational	rational	ADJ
dem-1049	241	14	expectations	expectation	NOUN
dem-1049	241	15	hypothesis	hypothesis	NOUN
dem-1049	241	16	of	of	ADP
dem-1049	241	17	the	the	DET
dem-1049	241	18	term	term	NOUN
dem-1049	241	19	structure	structure	NOUN
dem-1049	241	20	at	at	ADP
dem-1049	241	21	the	the	DET
dem-1049	241	22	polish	polish	ADJ
dem-1049	241	23	interbank	interbank	NOUN
dem-1049	241	24	market	market	NOUN
dem-1049	241	25	,	,	PUNCT
dem-1049	241	26	przegląd	przegląd	PROPN
dem-1049	241	27	statystyczny	statystyczny	PROPN
dem-1049	241	28	,	,	PUNCT
dem-1049	241	29	1	1	NUM
dem-1049	241	30	,	,	PUNCT
dem-1049	241	31	23–39	23–39	NUM
dem-1049	241	32	.	.	PUNCT
dem-1049	242	1	blangiewicz	blangiewicz	PROPN
dem-1049	242	2	,	,	PUNCT
dem-1049	242	3	m.	m.	NOUN
dem-1049	242	4	,	,	PUNCT
dem-1049	242	5	miłobędzki	miłobędzki	NOUN
dem-1049	242	6	,	,	PUNCT
dem-1049	242	7	p.	p.	NOUN
dem-1049	242	8	(	(	PUNCT
dem-1049	242	9	2010	2010	NUM
dem-1049	242	10	)	)	PUNCT
dem-1049	242	11	,	,	PUNCT
dem-1049	242	12	the	the	DET
dem-1049	242	13	term	term	NOUN
dem-1049	242	14	structure	structure	NOUN
dem-1049	242	15	of	of	ADP
dem-1049	242	16	interest	interest	NOUN
dem-1049	242	17	rates	rate	NOUN
dem-1049	242	18	at	at	ADP
dem-1049	242	19	the	the	DET
dem-1049	242	20	polish	polish	ADJ
dem-1049	242	21	interbank	interbank	NOUN
dem-1049	242	22	market	market	NOUN
dem-1049	242	23	.	.	PUNCT
dem-1049	243	1	a	a	DET
dem-1049	243	2	var	var	NOUN
dem-1049	243	3	approach	approach	NOUN
dem-1049	243	4	,	,	PUNCT
dem-1049	243	5	in	in	ADP
dem-1049	243	6	milo	milo	PROPN
dem-1049	243	7	w.	w.	PROPN
dem-1049	243	8	,	,	PUNCT
dem-1049	243	9	wdowiński	wdowiński	PROPN
dem-1049	243	10	p.	p.	PROPN
dem-1049	243	11	(	(	PUNCT
dem-1049	243	12	eds	ed	NOUN
dem-1049	243	13	.	.	PUNCT
dem-1049	243	14	)	)	PUNCT
dem-1049	243	15	,	,	PUNCT
dem-1049	243	16	forecasting	forecast	VERB
dem-1049	243	17	financial	financial	ADJ
dem-1049	243	18	markets	market	NOUN
dem-1049	243	19	.	.	PUNCT
dem-1049	244	1	theory	theory	NOUN
dem-1049	244	2	and	and	CCONJ
dem-1049	244	3	applications	application	NOUN
dem-1049	244	4	,	,	PUNCT
dem-1049	244	5	wydawnictwo	wydawnictwo	PROPN
dem-1049	244	6	uniwersytetu	uniwersytetu	NOUN
dem-1049	244	7	łódzkiego	łódzkiego	PROPN
dem-1049	244	8	,	,	PUNCT
dem-1049	244	9	łódź	łódź	PROPN
dem-1049	244	10	,	,	PUNCT
dem-1049	244	11	197	197	NUM
dem-1049	244	12	–	–	PUNCT
dem-1049	244	13	209	209	NUM
dem-1049	244	14	.	.	PUNCT
dem-1049	245	1	bulkley	bulkley	NOUN
dem-1049	245	2	,	,	PUNCT
dem-1049	245	3	g.	g.	PROPN
dem-1049	245	4	,harris	,harris	PROPN
dem-1049	245	5	,	,	PUNCT
dem-1049	245	6	r.	r.	PROPN
dem-1049	245	7	d.	d.	PROPN
dem-1049	245	8	f.	f.	PROPN
dem-1049	245	9	,	,	PUNCT
dem-1049	245	10	nawosah	nawosah	PROPN
dem-1049	245	11	,	,	PUNCT
dem-1049	245	12	v.	v.	PROPN
dem-1049	245	13	(	(	PUNCT
dem-1049	245	14	2011	2011	NUM
dem-1049	245	15	)	)	PUNCT
dem-1049	245	16	,	,	PUNCT
dem-1049	245	17	revisiting	revisit	VERB
dem-1049	245	18	the	the	DET
dem-1049	245	19	expectations	expectation	NOUN
dem-1049	245	20	hypothesis	hypothesis	NOUN
dem-1049	245	21	of	of	ADP
dem-1049	245	22	the	the	DET
dem-1049	245	23	term	term	NOUN
dem-1049	245	24	structure	structure	NOUN
dem-1049	245	25	of	of	ADP
dem-1049	245	26	interest	interest	NOUN
dem-1049	245	27	rates	rate	NOUN
dem-1049	245	28	,	,	PUNCT
dem-1049	245	29	journal	journal	NOUN
dem-1049	245	30	of	of	ADP
dem-1049	245	31	banking	banking	NOUN
dem-1049	245	32	&	&	CCONJ
dem-1049	245	33	finance	finance	PROPN
dem-1049	245	34	,	,	PUNCT
dem-1049	245	35	35	35	NUM
dem-1049	245	36	,	,	PUNCT
dem-1049	245	37	1202–1212	1202–1212	NUM
dem-1049	245	38	.	.	PUNCT
dem-1049	246	1	campbell	campbell	PROPN
dem-1049	246	2	,	,	PUNCT
dem-1049	246	3	j.	j.	PROPN
dem-1049	246	4	y.	y.	PROPN
dem-1049	246	5	,	,	PUNCT
dem-1049	246	6	shiller	shiller	PROPN
dem-1049	246	7	,	,	PUNCT
dem-1049	246	8	r.	r.	PROPN
dem-1049	246	9	j.	j.	PROPN
dem-1049	246	10	(	(	PUNCT
dem-1049	246	11	1987	1987	NUM
dem-1049	246	12	)	)	PUNCT
dem-1049	246	13	,	,	PUNCT
dem-1049	246	14	cointegration	cointegration	NOUN
dem-1049	246	15	and	and	CCONJ
dem-1049	246	16	tests	test	NOUN
dem-1049	246	17	of	of	ADP
dem-1049	246	18	present	present	ADJ
dem-1049	246	19	value	value	NOUN
dem-1049	246	20	models	model	NOUN
dem-1049	246	21	,	,	PUNCT
dem-1049	246	22	journal	journal	NOUN
dem-1049	246	23	of	of	ADP
dem-1049	246	24	political	political	ADJ
dem-1049	246	25	economy	economy	NOUN
dem-1049	246	26	,	,	PUNCT
dem-1049	246	27	95	95	NUM
dem-1049	246	28	,	,	PUNCT
dem-1049	246	29	1062–1088	1062–1088	NUM
dem-1049	246	30	.	.	PUNCT
dem-1049	247	1	campbell	campbell	PROPN
dem-1049	247	2	,	,	PUNCT
dem-1049	247	3	j.	j.	PROPN
dem-1049	247	4	y.	y.	PROPN
dem-1049	247	5	,	,	PUNCT
dem-1049	247	6	shiller	shiller	PROPN
dem-1049	247	7	,	,	PUNCT
dem-1049	247	8	r.	r.	PROPN
dem-1049	247	9	j.	j.	PROPN
dem-1049	247	10	(	(	PUNCT
dem-1049	247	11	1991	1991	NUM
dem-1049	247	12	)	)	PUNCT
dem-1049	247	13	,	,	PUNCT
dem-1049	247	14	yield	yield	VERB
dem-1049	247	15	spreads	spread	NOUN
dem-1049	247	16	and	and	CCONJ
dem-1049	247	17	interest	interest	NOUN
dem-1049	247	18	rates	rate	NOUN
dem-1049	247	19	movements	movement	NOUN
dem-1049	247	20	:	:	PUNCT
dem-1049	247	21	a	a	DET
dem-1049	247	22	bird	bird	NOUN
dem-1049	247	23	’s	’s	PART
dem-1049	247	24	eye	eye	NOUN
dem-1049	247	25	view	view	NOUN
dem-1049	247	26	,	,	PUNCT
dem-1049	247	27	review	review	NOUN
dem-1049	247	28	of	of	ADP
dem-1049	247	29	economic	economic	ADJ
dem-1049	247	30	studies	study	NOUN
dem-1049	247	31	,	,	PUNCT
dem-1049	247	32	58	58	NUM
dem-1049	247	33	,	,	PUNCT
dem-1049	247	34	495–514	495–514	NUM
dem-1049	247	35	.	.	PUNCT
dem-1049	247	36	cuthbertson	cuthbertson	PROPN
dem-1049	247	37	,	,	PUNCT
dem-1049	247	38	k.	k.	PROPN
dem-1049	247	39	(	(	PUNCT
dem-1049	247	40	1996	1996	NUM
dem-1049	247	41	)	)	PUNCT
dem-1049	247	42	,	,	PUNCT
dem-1049	247	43	the	the	DET
dem-1049	247	44	expectations	expectation	NOUN
dem-1049	247	45	hypothesis	hypothesis	NOUN
dem-1049	247	46	of	of	ADP
dem-1049	247	47	the	the	DET
dem-1049	247	48	term	term	NOUN
dem-1049	247	49	structure	structure	NOUN
dem-1049	247	50	:	:	PUNCT
dem-1049	247	51	the	the	DET
dem-1049	247	52	uk	uk	PROPN
dem-1049	247	53	interbank	interbank	NOUN
dem-1049	247	54	market	market	NOUN
dem-1049	247	55	,	,	PUNCT
dem-1049	247	56	economic	economic	ADJ
dem-1049	247	57	journal	journal	NOUN
dem-1049	247	58	,	,	PUNCT
dem-1049	247	59	106	106	NUM
dem-1049	247	60	,	,	PUNCT
dem-1049	247	61	578–592	578–592	NUM
dem-1049	247	62	.	.	PUNCT
dem-1049	247	63	cuthbertson	cuthbertson	PROPN
dem-1049	247	64	k.	k.	PROPN
dem-1049	247	65	,	,	PUNCT
dem-1049	247	66	hayes	hayes	PROPN
dem-1049	247	67	s.	s.	PROPN
dem-1049	247	68	,	,	PUNCT
dem-1049	247	69	nitzsche	nitzsche	PROPN
dem-1049	247	70	d.	d.	PROPN
dem-1049	247	71	(	(	PUNCT
dem-1049	247	72	1996	1996	NUM
dem-1049	247	73	)	)	PUNCT
dem-1049	247	74	,	,	PUNCT
dem-1049	247	75	the	the	DET
dem-1049	247	76	behaviour	behaviour	NOUN
dem-1049	247	77	of	of	ADP
dem-1049	247	78	certificate	certificate	NOUN
dem-1049	247	79	of	of	ADP
dem-1049	247	80	deposit	deposit	NOUN
dem-1049	247	81	rates	rate	NOUN
dem-1049	247	82	in	in	ADP
dem-1049	247	83	the	the	DET
dem-1049	247	84	uk	uk	PROPN
dem-1049	247	85	,	,	PUNCT
dem-1049	247	86	oxford	oxford	ADJ
dem-1049	247	87	economic	economic	ADJ
dem-1049	247	88	papers	paper	NOUN
dem-1049	247	89	,	,	PUNCT
dem-1049	247	90	48	48	NUM
dem-1049	247	91	,	,	PUNCT
dem-1049	247	92	397–414	397–414	NUM
dem-1049	247	93	.	.	PUNCT
dem-1049	247	94	cuthbertson	cuthbertson	PROPN
dem-1049	247	95	,	,	PUNCT
dem-1049	247	96	k.	k.	PROPN
dem-1049	247	97	,	,	PUNCT
dem-1049	247	98	hayes	hayes	PROPN
dem-1049	247	99	,	,	PUNCT
dem-1049	247	100	s.	s.	PROPN
dem-1049	247	101	,	,	PUNCT
dem-1049	247	102	nitzsche	nitzsche	NOUN
dem-1049	247	103	,	,	PUNCT
dem-1049	247	104	d.	d.	PROPN
dem-1049	247	105	(	(	PUNCT
dem-1049	247	106	2000	2000	NUM
dem-1049	247	107	)	)	PUNCT
dem-1049	247	108	,	,	PUNCT
dem-1049	247	109	are	be	AUX
dem-1049	247	110	german	german	ADJ
dem-1049	247	111	money	money	NOUN
dem-1049	247	112	market	market	NOUN
dem-1049	247	113	rates	rate	NOUN
dem-1049	247	114	well	well	ADV
dem-1049	247	115	behaved	behave	VERB
dem-1049	247	116	?	?	PUNCT
dem-1049	247	117	,	,	PUNCT
dem-1049	247	118	journal	journal	NOUN
dem-1049	247	119	of	of	ADP
dem-1049	247	120	economic	economic	ADJ
dem-1049	247	121	dynamics	dynamic	NOUN
dem-1049	247	122	&	&	CCONJ
dem-1049	247	123	control	control	PROPN
dem-1049	247	124	,	,	PUNCT
dem-1049	247	125	24	24	NUM
dem-1049	247	126	,	,	PUNCT
dem-1049	247	127	347–360	347–360	NUM
dem-1049	247	128	.	.	PUNCT
dem-1049	248	1	cuthbertson	cuthbertson	PROPN
dem-1049	248	2	,	,	PUNCT
dem-1049	248	3	k.	k.	PROPN
dem-1049	248	4	,	,	PUNCT
dem-1049	248	5	bredin	bredin	PROPN
dem-1049	248	6	,	,	PUNCT
dem-1049	248	7	d.	d.	PROPN
dem-1049	248	8	(	(	PUNCT
dem-1049	248	9	2001	2001	NUM
dem-1049	248	10	)	)	PUNCT
dem-1049	248	11	,	,	PUNCT
dem-1049	248	12	risk	risk	NOUN
dem-1049	248	13	premia	premia	NOUN
dem-1049	248	14	and	and	CCONJ
dem-1049	248	15	long	long	ADJ
dem-1049	248	16	rates	rate	NOUN
dem-1049	248	17	in	in	ADP
dem-1049	248	18	ireland	ireland	PROPN
dem-1049	248	19	,	,	PUNCT
dem-1049	248	20	journal	journal	NOUN
dem-1049	248	21	of	of	ADP
dem-1049	248	22	forecasting	forecasting	NOUN
dem-1049	248	23	,	,	PUNCT
dem-1049	248	24	20	20	NUM
dem-1049	248	25	,	,	PUNCT
dem-1049	248	26	391–403	391–403	NUM
dem-1049	248	27	.	.	PUNCT
dem-1049	249	1	cuthbertson	cuthbertson	PROPN
dem-1049	249	2	,	,	PUNCT
dem-1049	249	3	k.	k.	PROPN
dem-1049	249	4	,	,	PUNCT
dem-1049	249	5	nitzsche	nitzsche	NOUN
dem-1049	249	6	,	,	PUNCT
dem-1049	249	7	d.	d.	PROPN
dem-1049	249	8	(	(	PUNCT
dem-1049	249	9	2003	2003	NUM
dem-1049	249	10	)	)	PUNCT
dem-1049	249	11	,	,	PUNCT
dem-1049	249	12	long	long	ADJ
dem-1049	249	13	rates	rate	NOUN
dem-1049	249	14	,	,	PUNCT
dem-1049	249	15	risk	risk	NOUN
dem-1049	249	16	premia	premia	NOUN
dem-1049	249	17	and	and	CCONJ
dem-1049	249	18	over	over	ADP
dem-1049	249	19	-	-	PUNCT
dem-1049	249	20	reaction	reaction	NOUN
dem-1049	249	21	hypothesis	hypothesis	NOUN
dem-1049	249	22	,	,	PUNCT
dem-1049	249	23	economic	economic	ADJ
dem-1049	249	24	modelling	modelling	NOUN
dem-1049	249	25	,	,	PUNCT
dem-1049	249	26	20	20	NUM
dem-1049	249	27	,	,	PUNCT
dem-1049	249	28	417–435	417–435	NUM
dem-1049	249	29	.	.	PUNCT
dem-1049	250	1	elliot	elliot	PROPN
dem-1049	250	2	,	,	PUNCT
dem-1049	250	3	g.	g.	PROPN
dem-1049	250	4	,	,	PUNCT
dem-1049	250	5	rothenberg	rothenberg	PROPN
dem-1049	250	6	,	,	PUNCT
dem-1049	250	7	t.	t.	PROPN
dem-1049	250	8	j.	j.	PROPN
dem-1049	250	9	,	,	PUNCT
dem-1049	250	10	stock	stock	NOUN
dem-1049	250	11	,	,	PUNCT
dem-1049	250	12	j.	j.	PROPN
dem-1049	250	13	h.	h.	PROPN
dem-1049	250	14	(	(	PUNCT
dem-1049	250	15	1996	1996	NUM
dem-1049	250	16	)	)	PUNCT
dem-1049	250	17	,	,	PUNCT
dem-1049	250	18	efficient	efficient	ADJ
dem-1049	250	19	tests	test	NOUN
dem-1049	250	20	for	for	ADP
dem-1049	250	21	an	an	DET
dem-1049	250	22	autoregressive	autoregressive	ADJ
dem-1049	250	23	unit	unit	NOUN
dem-1049	250	24	root	root	NOUN
dem-1049	250	25	,	,	PUNCT
dem-1049	250	26	econometrica	econometrica	PROPN
dem-1049	250	27	,	,	PUNCT
dem-1049	250	28	64	64	NUM
dem-1049	250	29	,	,	PUNCT
dem-1049	250	30	813–836	813–836	NUM
dem-1049	250	31	.	.	PUNCT
dem-1049	250	32	engsted	engste	VERB
dem-1049	250	33	,	,	PUNCT
dem-1049	250	34	t.	t.	PROPN
dem-1049	250	35	(	(	PUNCT
dem-1049	250	36	1996	1996	NUM
dem-1049	250	37	)	)	PUNCT
dem-1049	250	38	,	,	PUNCT
dem-1049	250	39	the	the	DET
dem-1049	250	40	predictive	predictive	ADJ
dem-1049	250	41	power	power	NOUN
dem-1049	250	42	of	of	ADP
dem-1049	250	43	the	the	DET
dem-1049	250	44	money	money	NOUN
dem-1049	250	45	market	market	NOUN
dem-1049	250	46	term	term	NOUN
dem-1049	250	47	structure	structure	NOUN
dem-1049	250	48	,	,	PUNCT
dem-1049	250	49	international	international	ADJ
dem-1049	250	50	journal	journal	NOUN
dem-1049	250	51	of	of	ADP
dem-1049	250	52	forecasting	forecasting	NOUN
dem-1049	250	53	,	,	PUNCT
dem-1049	250	54	12	12	NUM
dem-1049	250	55	,	,	PUNCT
dem-1049	250	56	289–295	289–295	NUM
dem-1049	250	57	.	.	NUM
dem-1049	250	58	engsted	engste	VERB
dem-1049	250	59	,	,	PUNCT
dem-1049	250	60	t.	t.	PROPN
dem-1049	250	61	,	,	PUNCT
dem-1049	250	62	tanggaard	tanggaard	NOUN
dem-1049	250	63	,	,	PUNCT
dem-1049	250	64	c.	c.	PROPN
dem-1049	250	65	(	(	PUNCT
dem-1049	250	66	1995	1995	NUM
dem-1049	250	67	)	)	PUNCT
dem-1049	250	68	,	,	PUNCT
dem-1049	250	69	the	the	DET
dem-1049	250	70	predictive	predictive	ADJ
dem-1049	250	71	power	power	NOUN
dem-1049	250	72	of	of	ADP
dem-1049	250	73	yield	yield	NOUN
dem-1049	250	74	spreads	spread	NOUN
dem-1049	250	75	for	for	ADP
dem-1049	250	76	future	future	ADJ
dem-1049	250	77	interest	interest	NOUN
dem-1049	250	78	rates	rate	NOUN
dem-1049	250	79	:	:	PUNCT
dem-1049	250	80	evidence	evidence	NOUN
dem-1049	250	81	from	from	ADP
dem-1049	250	82	the	the	DET
dem-1049	250	83	danish	danish	ADJ
dem-1049	250	84	term	term	NOUN
dem-1049	250	85	structure	structure	NOUN
dem-1049	250	86	,	,	PUNCT
dem-1049	250	87	scandinavian	scandinavian	ADJ
dem-1049	250	88	journal	journal	NOUN
dem-1049	250	89	of	of	ADP
dem-1049	250	90	economics	economic	NOUN
dem-1049	250	91	,	,	PUNCT
dem-1049	250	92	97	97	NUM
dem-1049	250	93	,	,	PUNCT
dem-1049	250	94	145–159	145–159	NUM
dem-1049	250	95	.	.	PUNCT
dem-1049	251	1	the	the	DET
dem-1049	251	2	expectations	expectation	NOUN
dem-1049	251	3	hypothesis	hypothesis	NOUN
dem-1049	251	4	of	of	ADP
dem-1049	251	5	the	the	DET
dem-1049	251	6	term	term	NOUN
dem-1049	251	7	structure	structure	NOUN
dem-1049	251	8	of	of	ADP
dem-1049	251	9	libor	libor	PROPN
dem-1049	251	10	us	us	PROPN
dem-1049	251	11	dollar	dollar	NOUN
dem-1049	251	12	interest	interest	NOUN
dem-1049	251	13	rates	rate	NOUN
dem-1049	251	14	dynamic	dynamic	ADJ
dem-1049	251	15	econometric	econometric	ADJ
dem-1049	251	16	models	model	NOUN
dem-1049	251	17	12	12	NUM
dem-1049	251	18	(	(	PUNCT
dem-1049	251	19	2012	2012	NUM
dem-1049	251	20	)	)	PUNCT
dem-1049	251	21	5–17	5–17	PROPN
dem-1049	251	22	17	17	NUM
dem-1049	251	23	fisher	fisher	PROPN
dem-1049	251	24	,	,	PUNCT
dem-1049	251	25	i.	i.	NOUN
dem-1049	251	26	(	(	PUNCT
dem-1049	251	27	1886	1886	NUM
dem-1049	251	28	)	)	PUNCT
dem-1049	251	29	,	,	PUNCT
dem-1049	251	30	appreciation	appreciation	NOUN
dem-1049	251	31	and	and	CCONJ
dem-1049	251	32	interest	interest	NOUN
dem-1049	251	33	,	,	PUNCT
dem-1049	251	34	publications	publication	NOUN
dem-1049	251	35	of	of	ADP
dem-1049	251	36	the	the	DET
dem-1049	251	37	american	american	PROPN
dem-1049	251	38	economic	economic	PROPN
dem-1049	251	39	association	association	PROPN
dem-1049	251	40	,	,	PUNCT
dem-1049	251	41	11	11	NUM
dem-1049	251	42	,	,	PUNCT
dem-1049	251	43	1–98	1–98	PROPN
dem-1049	251	44	.	.	PUNCT
dem-1049	251	45	fisher	fisher	PROPN
dem-1049	251	46	,	,	PUNCT
dem-1049	251	47	i.	i.	PROPN
dem-1049	251	48	(	(	PUNCT
dem-1049	251	49	1930	1930	NUM
dem-1049	251	50	)	)	PUNCT
dem-1049	251	51	,	,	PUNCT
dem-1049	251	52	the	the	DET
dem-1049	251	53	theory	theory	NOUN
dem-1049	251	54	of	of	ADP
dem-1049	251	55	interest	interest	NOUN
dem-1049	251	56	,	,	PUNCT
dem-1049	251	57	macmillan	macmillan	PROPN
dem-1049	251	58	,	,	PUNCT
dem-1049	251	59	london	london	PROPN
dem-1049	251	60	.	.	PUNCT
dem-1049	252	1	garganas	garganas	PROPN
dem-1049	252	2	,	,	PUNCT
dem-1049	252	3	e.	e.	PROPN
dem-1049	252	4	,	,	PUNCT
dem-1049	252	5	hall	hall	PROPN
dem-1049	252	6	,	,	PUNCT
dem-1049	252	7	s.	s.	PROPN
dem-1049	252	8	g.	g.	PROPN
dem-1049	252	9	(	(	PUNCT
dem-1049	252	10	2011	2011	NUM
dem-1049	252	11	)	)	PUNCT
dem-1049	252	12	,	,	PUNCT
dem-1049	252	13	the	the	DET
dem-1049	252	14	small	small	ADJ
dem-1049	252	15	sample	sample	NOUN
dem-1049	252	16	properties	property	NOUN
dem-1049	252	17	of	of	ADP
dem-1049	252	18	tests	test	NOUN
dem-1049	252	19	of	of	ADP
dem-1049	252	20	the	the	DET
dem-1049	252	21	expectations	expectation	NOUN
dem-1049	252	22	hypothesis	hypothesis	NOUN
dem-1049	252	23	:	:	PUNCT
dem-1049	252	24	a	a	DET
dem-1049	252	25	monte	monte	PROPN
dem-1049	252	26	carlo	carlo	PROPN
dem-1049	252	27	investigation	investigation	PROPN
dem-1049	252	28	,	,	PUNCT
dem-1049	252	29	international	international	ADJ
dem-1049	252	30	journal	journal	NOUN
dem-1049	252	31	of	of	ADP
dem-1049	252	32	finance	finance	NOUN
dem-1049	252	33	and	and	CCONJ
dem-1049	252	34	economics	economic	NOUN
dem-1049	252	35	,	,	PUNCT
dem-1049	252	36	16	16	NUM
dem-1049	252	37	,	,	PUNCT
dem-1049	252	38	152–171	152–171	NUM
dem-1049	252	39	hardouvelis	hardouvelis	PROPN
dem-1049	252	40	,	,	PUNCT
dem-1049	252	41	g.	g.	PROPN
dem-1049	252	42	a.	a.	PROPN
dem-1049	252	43	(	(	PUNCT
dem-1049	252	44	1994	1994	NUM
dem-1049	252	45	)	)	PUNCT
dem-1049	252	46	,	,	PUNCT
dem-1049	252	47	the	the	DET
dem-1049	252	48	term	term	NOUN
dem-1049	252	49	structure	structure	NOUN
dem-1049	252	50	spread	spread	VERB
dem-1049	252	51	and	and	CCONJ
dem-1049	252	52	future	future	ADJ
dem-1049	252	53	changes	change	NOUN
dem-1049	252	54	in	in	ADP
dem-1049	252	55	long	long	ADJ
dem-1049	252	56	and	and	CCONJ
dem-1049	252	57	short	short	ADJ
dem-1049	252	58	rates	rate	NOUN
dem-1049	252	59	in	in	ADP
dem-1049	252	60	the	the	DET
dem-1049	252	61	g7	g7	PROPN
dem-1049	252	62	countries	country	NOUN
dem-1049	252	63	–	–	PUNCT
dem-1049	252	64	is	be	AUX
dem-1049	252	65	there	there	PRON
dem-1049	252	66	a	a	DET
dem-1049	252	67	puzzle	puzzle	NOUN
dem-1049	252	68	?	?	PUNCT
dem-1049	252	69	,	,	PUNCT
dem-1049	252	70	journal	journal	NOUN
dem-1049	252	71	of	of	ADP
dem-1049	252	72	monetary	monetary	ADJ
dem-1049	252	73	economics	economic	NOUN
dem-1049	252	74	,	,	PUNCT
dem-1049	252	75	33	33	NUM
dem-1049	252	76	,	,	PUNCT
dem-1049	252	77	255	255	NUM
dem-1049	252	78	–	–	PUNCT
dem-1049	252	79	283	283	NUM
dem-1049	252	80	.	.	PUNCT
dem-1049	253	1	hurn	hurn	PROPN
dem-1049	253	2	,	,	PUNCT
dem-1049	253	3	a.	a.	PROPN
dem-1049	253	4	s.	s.	PROPN
dem-1049	253	5	,	,	PUNCT
dem-1049	253	6	moody	moody	NOUN
dem-1049	253	7	,	,	PUNCT
dem-1049	253	8	t.	t.	PROPN
dem-1049	253	9	,	,	PUNCT
dem-1049	253	10	muscatelli	muscatelli	PROPN
dem-1049	253	11	,	,	PUNCT
dem-1049	253	12	v.	v.	ADP
dem-1049	253	13	a.	a.	NOUN
dem-1049	253	14	(	(	PUNCT
dem-1049	253	15	1995	1995	NUM
dem-1049	253	16	)	)	PUNCT
dem-1049	253	17	,	,	PUNCT
dem-1049	253	18	term	term	NOUN
dem-1049	253	19	structure	structure	NOUN
dem-1049	253	20	of	of	ADP
dem-1049	253	21	interest	interest	NOUN
dem-1049	253	22	rates	rate	NOUN
dem-1049	253	23	in	in	ADP
dem-1049	253	24	the	the	DET
dem-1049	253	25	london	london	PROPN
dem-1049	253	26	interbank	interbank	NOUN
dem-1049	253	27	market	market	NOUN
dem-1049	253	28	,	,	PUNCT
dem-1049	253	29	oxford	oxford	PROPN
dem-1049	253	30	economic	economic	ADJ
dem-1049	253	31	papers	paper	NOUN
dem-1049	253	32	,	,	PUNCT
dem-1049	253	33	47	47	NUM
dem-1049	253	34	,	,	PUNCT
dem-1049	253	35	418–436	418–436	NUM
dem-1049	253	36	.	.	PUNCT
dem-1049	254	1	king	king	PROPN
dem-1049	254	2	,	,	PUNCT
dem-1049	254	3	r.	r.	PROPN
dem-1049	254	4	g.	g.	PROPN
dem-1049	254	5	,	,	PUNCT
dem-1049	254	6	kurmann	kurmann	PROPN
dem-1049	254	7	,	,	PUNCT
dem-1049	254	8	a.	a.	NOUN
dem-1049	254	9	(	(	PUNCT
dem-1049	254	10	2002	2002	NUM
dem-1049	254	11	)	)	PUNCT
dem-1049	254	12	,	,	PUNCT
dem-1049	254	13	expectations	expectation	NOUN
dem-1049	254	14	and	and	CCONJ
dem-1049	254	15	the	the	DET
dem-1049	254	16	term	term	NOUN
dem-1049	254	17	structure	structure	NOUN
dem-1049	254	18	of	of	ADP
dem-1049	254	19	interest	interest	NOUN
dem-1049	254	20	rates	rate	NOUN
dem-1049	254	21	:	:	PUNCT
dem-1049	254	22	evidence	evidence	NOUN
dem-1049	254	23	and	and	CCONJ
dem-1049	254	24	implications	implication	NOUN
dem-1049	254	25	,	,	PUNCT
dem-1049	254	26	federal	federal	PROPN
dem-1049	254	27	reserve	reserve	PROPN
dem-1049	254	28	bank	bank	PROPN
dem-1049	254	29	of	of	ADP
dem-1049	254	30	richmond	richmond	PROPN
dem-1049	254	31	quarterly	quarterly	PROPN
dem-1049	254	32	,	,	PUNCT
dem-1049	254	33	88	88	NUM
dem-1049	254	34	(	(	PUNCT
dem-1049	254	35	4	4	NUM
dem-1049	254	36	)	)	PUNCT
dem-1049	254	37	,	,	PUNCT
dem-1049	254	38	49–95	49–95	NUM
dem-1049	254	39	.	.	PUNCT
dem-1049	255	1	kwiatkowski	kwiatkowski	PROPN
dem-1049	255	2	,	,	PUNCT
dem-1049	255	3	d.	d.	PROPN
dem-1049	255	4	,	,	PUNCT
dem-1049	255	5	phillips	phillips	PROPN
dem-1049	255	6	,	,	PUNCT
dem-1049	255	7	p.	p.	PROPN
dem-1049	255	8	c.	c.	PROPN
dem-1049	255	9	b.	b.	PROPN
dem-1049	255	10	,	,	PUNCT
dem-1049	255	11	schmidt	schmidt	PROPN
dem-1049	255	12	,	,	PUNCT
dem-1049	255	13	p.	p.	PROPN
dem-1049	255	14	,	,	PUNCT
dem-1049	255	15	shin	shin	PROPN
dem-1049	255	16	,	,	PUNCT
dem-1049	255	17	y.	y.	PROPN
dem-1049	255	18	(	(	PUNCT
dem-1049	255	19	1992	1992	NUM
dem-1049	255	20	)	)	PUNCT
dem-1049	255	21	,	,	PUNCT
dem-1049	255	22	testing	test	VERB
dem-1049	255	23	the	the	DET
dem-1049	255	24	null	null	ADJ
dem-1049	255	25	hypothesis	hypothesis	NOUN
dem-1049	255	26	of	of	ADP
dem-1049	255	27	stationarity	stationarity	NOUN
dem-1049	255	28	against	against	ADP
dem-1049	255	29	the	the	DET
dem-1049	255	30	alternative	alternative	NOUN
dem-1049	255	31	of	of	ADP
dem-1049	255	32	a	a	DET
dem-1049	255	33	unit	unit	NOUN
dem-1049	255	34	root	root	NOUN
dem-1049	255	35	,	,	PUNCT
dem-1049	255	36	journal	journal	NOUN
dem-1049	255	37	of	of	ADP
dem-1049	255	38	econometrics	econometric	NOUN
dem-1049	255	39	,	,	PUNCT
dem-1049	255	40	54	54	NUM
dem-1049	255	41	,	,	PUNCT
dem-1049	255	42	159–178	159–178	NUM
dem-1049	255	43	.	.	PUNCT
dem-1049	256	1	lutz	lutz	PROPN
dem-1049	256	2	,	,	PUNCT
dem-1049	256	3	f.	f.	PROPN
dem-1049	256	4	a.	a.	PROPN
dem-1049	256	5	(	(	PUNCT
dem-1049	256	6	1940	1940	NUM
dem-1049	256	7	)	)	PUNCT
dem-1049	256	8	,	,	PUNCT
dem-1049	256	9	the	the	DET
dem-1049	256	10	structure	structure	NOUN
dem-1049	256	11	of	of	ADP
dem-1049	256	12	interest	interest	NOUN
dem-1049	256	13	rates	rate	NOUN
dem-1049	256	14	,	,	PUNCT
dem-1049	256	15	quarterly	quarterly	ADJ
dem-1049	256	16	journal	journal	NOUN
dem-1049	256	17	of	of	ADP
dem-1049	256	18	economics	economic	NOUN
dem-1049	256	19	,	,	PUNCT
dem-1049	256	20	55	55	NUM
dem-1049	256	21	,	,	PUNCT
dem-1049	256	22	36–63	36–63	NUM
dem-1049	256	23	.	.	PUNCT
dem-1049	257	1	mankiw	mankiw	PROPN
dem-1049	257	2	,	,	PUNCT
dem-1049	257	3	n.	n.	PROPN
dem-1049	257	4	g.	g.	PROPN
dem-1049	257	5	,	,	PUNCT
dem-1049	257	6	miron	miron	PROPN
dem-1049	257	7	,	,	PUNCT
dem-1049	257	8	g.	g.	PROPN
dem-1049	257	9	(	(	PUNCT
dem-1049	257	10	1986	1986	NUM
dem-1049	257	11	)	)	PUNCT
dem-1049	257	12	,	,	PUNCT
dem-1049	257	13	the	the	DET
dem-1049	257	14	changing	change	VERB
dem-1049	257	15	behaviour	behaviour	NOUN
dem-1049	257	16	of	of	ADP
dem-1049	257	17	the	the	DET
dem-1049	257	18	term	term	NOUN
dem-1049	257	19	structure	structure	NOUN
dem-1049	257	20	of	of	ADP
dem-1049	257	21	interest	interest	NOUN
dem-1049	257	22	rates	rate	NOUN
dem-1049	257	23	,	,	PUNCT
dem-1049	257	24	quarterly	quarterly	ADJ
dem-1049	257	25	journal	journal	NOUN
dem-1049	257	26	of	of	ADP
dem-1049	257	27	economics	economic	NOUN
dem-1049	257	28	,	,	PUNCT
dem-1049	257	29	101	101	NUM
dem-1049	257	30	,	,	PUNCT
dem-1049	257	31	211–228	211–228	NUM
dem-1049	257	32	.	.	PUNCT
dem-1049	257	33	mccallum	mccallum	PROPN
dem-1049	257	34	,	,	PUNCT
dem-1049	257	35	b.	b.	PROPN
dem-1049	257	36	t.	t.	PROPN
dem-1049	257	37	(	(	PUNCT
dem-1049	257	38	2005	2005	NUM
dem-1049	257	39	)	)	PUNCT
dem-1049	257	40	,	,	PUNCT
dem-1049	257	41	monetary	monetary	ADJ
dem-1049	257	42	policy	policy	NOUN
dem-1049	257	43	and	and	CCONJ
dem-1049	257	44	the	the	DET
dem-1049	257	45	term	term	NOUN
dem-1049	257	46	structure	structure	NOUN
dem-1049	257	47	of	of	ADP
dem-1049	257	48	interest	interest	NOUN
dem-1049	257	49	rates	rate	NOUN
dem-1049	257	50	,	,	PUNCT
dem-1049	257	51	federal	federal	PROPN
dem-1049	257	52	reserve	reserve	PROPN
dem-1049	257	53	bank	bank	PROPN
dem-1049	257	54	of	of	ADP
dem-1049	257	55	richmond	richmond	PROPN
dem-1049	257	56	economic	economic	ADJ
dem-1049	257	57	quarterly	quarterly	NOUN
dem-1049	257	58	,	,	PUNCT
dem-1049	257	59	91	91	NUM
dem-1049	257	60	,	,	PUNCT
dem-1049	257	61	1–21	1–21	PROPN
dem-1049	257	62	.	.	PUNCT
dem-1049	258	1	miłobędzki	miłobędzki	PROPN
dem-1049	258	2	,	,	PUNCT
dem-1049	258	3	p.	p.	NOUN
dem-1049	258	4	(	(	PUNCT
dem-1049	258	5	2010	2010	NUM
dem-1049	258	6	)	)	PUNCT
dem-1049	258	7	,	,	PUNCT
dem-1049	258	8	the	the	DET
dem-1049	258	9	term	term	NOUN
dem-1049	258	10	structure	structure	NOUN
dem-1049	258	11	of	of	ADP
dem-1049	258	12	libor	libor	PROPN
dem-1049	258	13	sterling	sterling	PROPN
dem-1049	258	14	rates	rate	NOUN
dem-1049	258	15	,	,	PUNCT
dem-1049	258	16	prace	prace	PROPN
dem-1049	258	17	naukowe	naukowe	PROPN
dem-1049	258	18	uniwersytetu	uniwersytetu	PROPN
dem-1049	258	19	ekonomicznego	ekonomicznego	NOUN
dem-1049	258	20	we	we	PRON
dem-1049	258	21	wrocławiu	wrocławiu	VERB
dem-1049	258	22	,	,	PUNCT
dem-1049	258	23	138	138	NUM
dem-1049	258	24	(	(	PUNCT
dem-1049	258	25	5	5	NUM
dem-1049	258	26	)	)	PUNCT
dem-1049	258	27	,	,	PUNCT
dem-1049	259	1	88–102	88–102	NUM
dem-1049	259	2	.	.	PUNCT
dem-1049	259	3	tzavalis	tzavalis	PROPN
dem-1049	259	4	,	,	PUNCT
dem-1049	259	5	e.	e.	PROPN
dem-1049	259	6	(	(	PUNCT
dem-1049	259	7	2003	2003	NUM
dem-1049	259	8	)	)	PUNCT
dem-1049	259	9	,	,	PUNCT
dem-1049	259	10	the	the	DET
dem-1049	259	11	term	term	NOUN
dem-1049	259	12	premium	premium	NOUN
dem-1049	259	13	and	and	CCONJ
dem-1049	259	14	the	the	DET
dem-1049	259	15	puzzles	puzzle	NOUN
dem-1049	259	16	of	of	ADP
dem-1049	259	17	the	the	DET
dem-1049	259	18	expectations	expectation	NOUN
dem-1049	259	19	hypothesis	hypothesis	NOUN
dem-1049	259	20	of	of	ADP
dem-1049	259	21	the	the	DET
dem-1049	259	22	term	term	NOUN
dem-1049	259	23	structure	structure	NOUN
dem-1049	259	24	,	,	PUNCT
dem-1049	259	25	economic	economic	ADJ
dem-1049	259	26	modelling	modelling	NOUN
dem-1049	259	27	,	,	PUNCT
dem-1049	259	28	21	21	NUM
dem-1049	259	29	,	,	PUNCT
dem-1049	259	30	73–93	73–93	NUM
dem-1049	259	31	.	.	PUNCT
dem-1049	260	1	tzavalis	tzavalis	PROPN
dem-1049	260	2	,	,	PUNCT
dem-1049	260	3	e.	e.	PROPN
dem-1049	260	4	,	,	PUNCT
dem-1049	260	5	wickens	wicken	NOUN
dem-1049	260	6	,	,	PUNCT
dem-1049	260	7	m.	m.	NOUN
dem-1049	260	8	(	(	PUNCT
dem-1049	260	9	1998	1998	NUM
dem-1049	260	10	)	)	PUNCT
dem-1049	260	11	,	,	PUNCT
dem-1049	260	12	a	a	DET
dem-1049	260	13	re	re	NOUN
dem-1049	260	14	-	-	NOUN
dem-1049	260	15	examination	examination	NOUN
dem-1049	260	16	of	of	ADP
dem-1049	260	17	the	the	DET
dem-1049	260	18	rational	rational	ADJ
dem-1049	260	19	expectations	expectation	NOUN
dem-1049	260	20	hypothesis	hypothesis	NOUN
dem-1049	260	21	of	of	ADP
dem-1049	260	22	the	the	DET
dem-1049	260	23	term	term	NOUN
dem-1049	260	24	structure	structure	NOUN
dem-1049	260	25	:	:	PUNCT
dem-1049	260	26	reconciling	reconcile	VERB
dem-1049	260	27	the	the	DET
dem-1049	260	28	evidence	evidence	NOUN
dem-1049	260	29	from	from	ADP
dem-1049	260	30	long	long	ADV
dem-1049	260	31	-	-	PUNCT
dem-1049	260	32	run	run	VERB
dem-1049	260	33	and	and	CCONJ
dem-1049	260	34	short	short	ADJ
dem-1049	260	35	-	-	PUNCT
dem-1049	260	36	run	run	NOUN
dem-1049	260	37	tests	test	NOUN
dem-1049	260	38	,	,	PUNCT
dem-1049	260	39	international	international	ADJ
dem-1049	260	40	journal	journal	NOUN
dem-1049	260	41	of	of	ADP
dem-1049	260	42	finance	finance	NOUN
dem-1049	260	43	and	and	CCONJ
dem-1049	260	44	economics	economic	NOUN
dem-1049	260	45	,	,	PUNCT
dem-1049	260	46	3	3	NUM
dem-1049	260	47	,	,	PUNCT
dem-1049	260	48	229–239	229–239	NUM
dem-1049	260	49	.	.	PUNCT
dem-1049	261	1	hipoteza	hipoteza	PROPN
dem-1049	261	2	oczekiwań	oczekiwań	PROPN
dem-1049	261	3	struktury	struktury	NOUN
dem-1049	261	4	terminowej	terminowej	NOUN
dem-1049	261	5	stóp	stóp	NOUN
dem-1049	261	6	procentowych	procentowych	PROPN
dem-1049	261	7	libor	libor	PROPN
dem-1049	261	8	dla	dla	PROPN
dem-1049	261	9	dolara	dolara	PROPN
dem-1049	261	10	usa	usa	PROPN
dem-1049	261	11	z	z	PROPN
dem-1049	261	12	a	a	DET
dem-1049	261	13	r	r	NOUN
dem-1049	261	14	y	y	PROPN
dem-1049	261	15	s	s	PROPN
dem-1049	261	16	t	t	NOUN
dem-1049	261	17	r	r	NOUN
dem-1049	261	18	e	e	PROPN
dem-1049	261	19	ś	ś	PROPN
dem-1049	261	20	c	c	PROPN
dem-1049	261	21	i.	i.	PROPN
dem-1049	261	22	w	w	PROPN
dem-1049	261	23	artykule	artykule	PROPN
dem-1049	261	24	przedstawia	przedstawia	VERB
dem-1049	261	25	się	się	PROPN
dem-1049	261	26	wyniki	wyniki	PROPN
dem-1049	261	27	testów	testów	PROPN
dem-1049	261	28	hipotezy	hipotezy	PROPN
dem-1049	261	29	oczekiwań	oczekiwań	PROPN
dem-1049	261	30	struktury	struktury	NOUN
dem-1049	261	31	terminowej	terminowej	PROPN
dem-1049	261	32	stóp	stóp	PROPN
dem-1049	261	33	libor	libor	PROPN
dem-1049	261	34	dla	dla	PROPN
dem-1049	261	35	dolara	dolara	PROPN
dem-1049	261	36	usa	usa	PROPN
dem-1049	261	37	opartych	opartych	PROPN
dem-1049	261	38	na	na	ADP
dem-1049	261	39	3	3	NUM
dem-1049	261	40	-	-	PUNCT
dem-1049	261	41	wymiarowym	wymiarowym	NOUN
dem-1049	261	42	modelu	modelu	PROPN
dem-1049	261	43	var	var	PROPN
dem-1049	261	44	.	.	PUNCT
dem-1049	262	1	model	model	NOUN
dem-1049	262	2	ten	ten	NUM
dem-1049	262	3	oszacowano	oszacowano	NOUN
dem-1049	262	4	na	na	NOUN
dem-1049	262	5	podstawie	podstawie	NOUN
dem-1049	262	6	miesięcznych	miesięcznych	NOUN
dem-1049	262	7	szeregów	szeregów	PROPN
dem-1049	262	8	czasowych	czasowych	VERB
dem-1049	262	9	stóp	stóp	NOUN
dem-1049	262	10	procentowych	procentowych	PROPN
dem-1049	262	11	z	z	PROPN
dem-1049	262	12	lat	lat	PROPN
dem-1049	262	13	1995	1995	NUM
dem-1049	262	14	-	-	SYM
dem-1049	262	15	2009	2009	NUM
dem-1049	262	16	i	i	PRON
dem-1049	262	17	zapadalności	zapadalności	VERB
dem-1049	262	18	od	od	NOUN
dem-1049	262	19	1	1	NUM
dem-1049	262	20	do	do	VERB
dem-1049	262	21	12	12	NUM
dem-1049	262	22	miesięcy	miesięcy	NOUN
dem-1049	262	23	.	.	PUNCT
dem-1049	263	1	zaleziono	zaleziono	PROPN
dem-1049	263	2	kilka	kilka	PROPN
dem-1049	263	3	przesłanek	przesłanek	ADJ
dem-1049	263	4	świadczących	świadczących	NOUN
dem-1049	263	5	przeciwko	przeciwko	PROPN
dem-1049	263	6	tej	tej	PROPN
dem-1049	263	7	hipotezie	hipotezie	PROPN
dem-1049	263	8	.	.	PUNCT
dem-1049	264	1	chociaż	chociaż	NOUN
dem-1049	264	2	premie	premie	VERB
dem-1049	264	3	płynności	płynności	ADJ
dem-1049	264	4	okazały	okazały	PROPN
dem-1049	264	5	się	się	PROPN
dem-1049	264	6	być	być	PROPN
dem-1049	264	7	zmiennymi	zmiennymi	PROPN
dem-1049	264	8	w	w	PROPN
dem-1049	264	9	czasie	czasie	PROPN
dem-1049	264	10	,	,	PUNCT
dem-1049	264	11	a	a	DET
dem-1049	264	12	spredy	spredy	ADJ
dem-1049	264	13	stóp	stóp	NOUN
dem-1049	264	14	procentowych	procentowych	NOUN
dem-1049	264	15	–	–	PUNCT
dem-1049	264	16	mieć	mieć	PROPN
dem-1049	264	17	silne	silne	VERB
dem-1049	264	18	własności	własności	PROPN
dem-1049	264	19	prognostyczne	prognostyczne	PROPN
dem-1049	264	20	,	,	PUNCT
dem-1049	264	21	niemniej	niemniej	PROPN
dem-1049	264	22	stopy	stopy	NOUN
dem-1049	264	23	długie	długie	PROPN
dem-1049	264	24	w	w	PROPN
dem-1049	264	25	niedostateczny	niedostateczny	PROPN
dem-1049	264	26	sposób	sposób	PROPN
dem-1049	264	27	reagowały	reagowały	PROPN
dem-1049	264	28	na	na	PROPN
dem-1049	264	29	bieżące	bieżące	PROPN
dem-1049	264	30	informacje	informacje	PROPN
dem-1049	264	31	odnośnie	odnośnie	NOUN
dem-1049	264	32	do	do	VERB
dem-1049	264	33	przyszłych	przyszłych	NOUN
dem-1049	264	34	stóp	stóp	NOUN
dem-1049	264	35	krótkich	krótkich	PROPN
dem-1049	264	36	.	.	PUNCT
dem-1049	265	1	niespodziewane	niespodziewane	NOUN
dem-1049	265	2	zmiany	zmiany	PROPN
dem-1049	265	3	w	w	PROPN
dem-1049	265	4	okresowych	okresowych	PROPN
dem-1049	265	5	stopach	stopach	PROPN
dem-1049	265	6	zatrzymania	zatrzymania	PROPN
dem-1049	265	7	były	były	PROPN
dem-1049	265	8	w	w	PROPN
dem-1049	265	9	dużej	dużej	PROPN
dem-1049	265	10	mierze	mierze	PROPN
dem-1049	265	11	spowodowane	spowodowane	NOUN
dem-1049	265	12	rewizjami	rewizjami	PROPN
dem-1049	265	13	prognoz	prognoz	PROPN
dem-1049	265	14	przyszłych	przyszłych	PROPN
dem-1049	265	15	stóp	stóp	NOUN
dem-1049	265	16	krótkich	krótkich	PROPN
dem-1049	265	17	,	,	PUNCT
dem-1049	265	18	a	a	DET
dem-1049	265	19	tylko	tylko	PROPN
dem-1049	265	20	w	w	PROPN
dem-1049	265	21	skromnej	skromnej	PROPN
dem-1049	265	22	mierze	mierze	PROPN
dem-1049	265	23	rewizjami	rewizjami	PROPN
dem-1049	265	24	prognoz	prognoz	PROPN
dem-1049	265	25	przyszłych	przyszłych	PROPN
dem-1049	265	26	premii	premii	PROPN
dem-1049	265	27	płynności	płynności	NOUN
dem-1049	265	28	.	.	PUNCT
dem-1049	266	1	s	s	PART
dem-1049	266	2	ł	ł	PROPN
dem-1049	266	3	o	o	X
dem-1049	266	4	w	w	NOUN
dem-1049	266	5	a	a	DET
dem-1049	266	6	k	k	X
dem-1049	266	7	l	l	NOUN
dem-1049	266	8	u	u	NOUN
dem-1049	267	1	c	c	NOUN
dem-1049	267	2	z	z	NOUN
dem-1049	267	3	o	o	X
dem-1049	267	4	w	w	PROPN
dem-1049	268	1	e	e	NOUN
dem-1049	268	2	:	:	PUNCT
dem-1049	268	3	struktura	struktura	VERB
dem-1049	268	4	terminowa	terminowa	NOUN
dem-1049	268	5	stóp	stóp	NOUN
dem-1049	268	6	procentowych	procentowych	NOUN
dem-1049	268	7	,	,	PUNCT
dem-1049	268	8	hipoteza	hipoteza	PROPN
dem-1049	268	9	oczekiwań	oczekiwań	PROPN
dem-1049	268	10	,	,	PUNCT
dem-1049	268	11	premia	premia	PROPN
dem-1049	268	12	płynności	płynności	PROPN
dem-1049	268	13	,	,	PUNCT
dem-1049	268	14	libor	libor	PROPN
dem-1049	268	15	,	,	PUNCT
dem-1049	268	16	var	var	PROPN
dem-1049	268	17	.	.	PUNCT
dem-1049	269	1	introduction	introduction	NOUN
dem-1049	269	2	1	1	NUM
dem-1049	269	3	.	.	PUNCT
dem-1049	269	4	eh	eh	INTJ
dem-1049	269	5	of	of	ADP
dem-1049	269	6	the	the	DET
dem-1049	269	7	term	term	NOUN
dem-1049	269	8	structure	structure	NOUN
dem-1049	269	9	of	of	ADP
dem-1049	269	10	interest	interest	NOUN
dem-1049	269	11	rates	rate	NOUN
dem-1049	269	12	and	and	CCONJ
dem-1049	269	13	its	its	PRON
dem-1049	269	14	implications	implication	NOUN
dem-1049	269	15	2	2	NUM
dem-1049	269	16	.	.	X
dem-1049	269	17	three	three	NUM
dem-1049	269	18	-	-	PUNCT
dem-1049	269	19	variable	variable	NOUN
dem-1049	269	20	var	var	NOUN
dem-1049	269	21	based	base	VERB
dem-1049	269	22	tests	test	NOUN
dem-1049	269	23	of	of	ADP
dem-1049	269	24	the	the	DET
dem-1049	269	25	eh	eh	INTJ
dem-1049	269	26	3	3	NUM
dem-1049	269	27	.	.	PUNCT
dem-1049	270	1	empirical	empirical	ADJ
dem-1049	270	2	results	result	NOUN
dem-1049	270	3	conclusions	conclusion	NOUN
dem-1049	270	4	appendix	appendix	VERB
dem-1049	270	5	references	reference	NOUN