This paper applies the GARJI model to investigate the impact of news on the S&P 500 spot and index futures. We show their reactions are dissimilar to good or bad news. Hence, though they are like brothers, they are cousins. Besides, the persistence and sensitivity parameters for the arrival of...

This article sets out to investigate if the TAIFEX has adequate clearing margin adjustment system via unconditional coverage, conditional coverage test and mean relative scaled bias to assess the performance of three value-at-risk (VaR) models (i.e., the TAIFEX, RiskMetrics and GARCH-t). For the...

This study predicts the medical expenditure of national health insurance by a Back-Propagation Neural Network (BPN). Monte Carlo Simulation and Multiple Regression Analysis are used to compare the results of the BPN. Empirical results show the performance indicator modeled on BPN is the best,...