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The topic of volatility measurement and estimation is central to financial and more generally time series econometrics. In this paper, we begin by surveying models of volatility, both discrete and continuous, and then we summarize some selected empirical findings from the literature. In...
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property crime. -- Crime ; labor markets ; unemployment ; wages …For nearly 50 years academics have been studying how labor markets affect crime. The initial interesting and important … theoretical and empirical work generated substantial interest in studying crime among economists, in particular, and scholars in …
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In this paper, we review the most common specifications of discrete-time stochastic volatility (SV) models and illustrate the major principles of corresponding Markov Chain Monte Carlo (MCMC) based statistical inference. We provide a hands-on ap proach which is easily implemented in empirical...
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