cyclical variable meaning in Chinese

循环变数

Secondly , the paper tests the relation between the volatilities of the stock returns and macroeconomic cyclical variables by using granger - causality test and the hendry general - to - specific modelling strategy . we find that such factors we choose here as the volatilities of the value added of industry , the money supply , consumer price index , interest rates and exports , imports have influence on the volatility of the stock returns to some extent
然后应用格兰杰因果关系检验和韩德瑞的从一般到特殊的建模理论，同时测试股票市场收益率的条件波动率与宏观经济变量的条件波动率的相互关系，发现工业生产增加值、货币供给量、消费者价格指数以及进出口额的条件波动率等经济指标对我国股票市场收益率波动率都在不同程度上有影响。