摘要翻译：
Dybvig-Ingersoll-Ross(DIR)定理指出，在无套利的期限结构模型中，长期收益率和远期利率永远不会下降。我们给出了DIR定理的一个改进版本，其中我们将到期日的倒数确定为较早日期的长期利率可以支配较晚日期的长期利率的最大阶。强加在市场模型上的生存能力假设比以前在文献中出现的要弱。
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英文标题：
《On the Dybvig-Ingersoll-Ross Theorem》
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作者：
Constantinos Kardaras, Eckhard Platen
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最新提交年份：
2010
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分类信息：

一级分类：Quantitative Finance        数量金融学
二级分类：Pricing of Securities        证券定价
分类描述：Valuation and hedging of financial securities, their derivatives, and structured products
金融证券及其衍生产品和结构化产品的估值和套期保值
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一级分类：Mathematics        数学
二级分类：Probability        概率
分类描述：Theory and applications of probability and stochastic processes: e.g. central limit theorems, large deviations, stochastic differential equations, models from statistical mechanics, queuing theory
概率论与随机过程的理论与应用：例如中心极限定理，大偏差，随机微分方程，统计力学模型，排队论
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英文摘要：
  The Dybvig-Ingersoll-Ross (DIR) theorem states that, in arbitrage-free term structure models, long-term yields and forward rates can never fall. We present a refined version of the DIR theorem, where we identify the reciprocal of the maturity date as the maximal order that long-term rates at earlier dates can dominate long-term rates at later dates. The viability assumption imposed on the market model is weaker than those appearing previously in the literature.
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PDF链接：
https://arxiv.org/pdf/0901.2080