Stochastic Volatility in Financial Markets presents advanced topics in financial econometrics and theoretical finance … changes: the occurrence of sudden and persistent changes of financial markets volatility. This phenomenon, technically termed … `stochastic volatility', or `conditional heteroskedasticity', has been well known for at least 20 years; in this part, further …

factors and equity volatility factors. The paper finds strong evidence that the volatility factors, especially the volatility … Granger causality from credit spreads to equity volatility, operating through the slope factors, consistent with the market …