1. Literature reviews Frame the research question in the academic and/or policy debate; Discuss existing empirical evidence and theoretical debate and results on the topic; Organized by topics,not by papers 2. Methodology and tests Data description Modeling, in this part, a model SHOULD be set up. And at least 4 variables in the model. 10-year government bond yield and CDS spread must be used. Result analysis. Relate the results to previous works in the literature.