This paper gives a computer-intensive approach to multi-step-ahead prediction of volatility in financial returns series under an ARCH/GARCH model and also under a model-free setting, namely employing the NoVaS transformation. Our model-based approach only assumes i..id innovations without...

This paper explores how the unequal right of enrollment for public schools between households with different tenure statuses in urban People's Republic of China (PRC) affects rental yields. In the PRC, the rental yield is as low as 2% in major cities, mostly due to the lack of property tax and...