青云英语翻译

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翻译结果1复制译文编辑译文朗读译文返回顶部

虽然标准的GARCH模型是由安东尼奥和Holmes(1995)受聘为从期货交易开始波动带来的变化的测试手段,这种模式的缺点,它假定一个对称的响应新闻。标准的GARCH模型在不对称新闻的存在会导致不正确的推论,有关信息和波动性之间的关系misspecified的。这反过来又可能会导致不恰当的政策所得出的结论。在这种情况下,替代GARCH模型是必需的测试不对称,让好消息和坏消息对波动的影响之间的分化。一个成熟的经验强大的GARCH模型,它允许信息不对称反应是反光,贾甘纳坦和朗克尔(GJR(1993))3提出的模型。 GJR模型指定如下:

翻译结果4复制译文编辑译文朗读译文返回顶部

虽然《标准garch示范是受雇於安东尼奥和霍姆斯(1995)是测试的变化所造成的波动的期货交易开始,这一模式是相关的缺点,但它是对称消息。 在一个存在的不对称对新闻的标准garch misspecified示范将导致不正确的关系推论信息和波动。
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