Outlier detection targets those exceptional data whose pattern is rare and lie in low density regions. In this paper, under the assumption of complete spatial randomness inside clusters, we propose an MDV (Multi-scale Deviation of the Volume) approach to identifying outliers. In addition to...

Summary Following the influential work of Nelson and Plosser (1982) stochastic trends in macroeconomic time series are considered to be a stylized fact. However, since the stochastic trend hypothesis can be rejected for many economic series if a segmented trend model is considered as an...