Struktura terminowa stóp procentowych opisana modelami stopy krótkoterminowej

The article gives an overview of the theoretical basis for the term structure of interest rates. Theoretical and practical benefits of this kind of modeling are indicated. The arguments in support of the opinion that the financial market model with continuous time is better than the model with discrete time are listed. Slightly wider is the discussion on one-factor and two-factor models of the dynamics of the short term rate due to stochas-tic differential equations.