laboratory experiment. Our findings support the main comparative-static predictions of the model but also suggest that, when …

; Dynamic conditional correlation ; Return comovement ; Volatility model evaluation …

. Unlike in countries involved in WWII, this market was unregulated. The outbreak of World War II heavily depressed prices of …

the theory by analyzing a number of concrete examples. -- HJM models ; stochastic volatility ; factor models ; forward … volatility/diffusion term is stochastic in the sense of being driven by a separate hidden Markov process. Within this framework … we use the previously developed Hilbert space realization theory in order provide general necessary and sufficent …