文章选取上证综指5分钟收盘价序列高频数据,采用ACF拟合、多种损失函数、SPA检验和VaR回测检验对不同误差分布下的包含时变波动、异方差结构和加权已实现极差的Realized HAR GARCH模型进行研究。实证结果表明,新模型相比于以往模型更能...文章选取上证综指5分钟收盘价序列高频数据,采用ACF拟合、多种损失函数、SPA检验和VaR回测检验对不同误差分布下的包含时变波动、异方差结构和加权已实现极差的Realized HAR GARCH模型进行研究。实证结果表明,新模型相比于以往模型更能够捕捉上证综指的波动特征,具有更好的波动率拟合和预测效果,且VaR度量效果更优。研究丰富了时变长记忆高频波动率模型,从时变波动和噪声异方差结构视角为投资者和监管机构进行风险管控提供参考。展开更多
Har tolgoi铅银多金属矿床位于蒙古南戈壁省省会Dalanzadgad市南约170千米的诺木冈县境内,与我国直线距离56千米,大地构造位置在巴音毛道-雅干-Baruun Tsohio微陆块内。该矿床是南蒙古一个重要的大型铅银多金属矿床,其周围Pb-Zn-Ag-Au矿...Har tolgoi铅银多金属矿床位于蒙古南戈壁省省会Dalanzadgad市南约170千米的诺木冈县境内,与我国直线距离56千米,大地构造位置在巴音毛道-雅干-Baruun Tsohio微陆块内。该矿床是南蒙古一个重要的大型铅银多金属矿床,其周围Pb-Zn-Ag-Au矿床(点)密布,通过该矿床的深入研究。展开更多
Based on geographical and hydrological characteristics of lakes in the middle and lower reaches of Yangtze River, this paper analyzes the factors restricting the sustainable utilization of lake resources, including th...Based on geographical and hydrological characteristics of lakes in the middle and lower reaches of Yangtze River, this paper analyzes the factors restricting the sustainable utilization of lake resources, including the conflict among agriculture water conservancy, and fishery, lake water pollution and eutrophication, lake siltation and swamping. The countermeasures and suggestions, such as improving the strategic status of lake harnessing, strengthening integrated management of lakes and their watershed, strengthening researches on lake environment and lake resources, are proposed to practice the sustainable utilization of lake resources.展开更多
文摘文章选取上证综指5分钟收盘价序列高频数据,采用ACF拟合、多种损失函数、SPA检验和VaR回测检验对不同误差分布下的包含时变波动、异方差结构和加权已实现极差的Realized HAR GARCH模型进行研究。实证结果表明,新模型相比于以往模型更能够捕捉上证综指的波动特征,具有更好的波动率拟合和预测效果,且VaR度量效果更优。研究丰富了时变长记忆高频波动率模型,从时变波动和噪声异方差结构视角为投资者和监管机构进行风险管控提供参考。
文摘Based on geographical and hydrological characteristics of lakes in the middle and lower reaches of Yangtze River, this paper analyzes the factors restricting the sustainable utilization of lake resources, including the conflict among agriculture water conservancy, and fishery, lake water pollution and eutrophication, lake siltation and swamping. The countermeasures and suggestions, such as improving the strategic status of lake harnessing, strengthening integrated management of lakes and their watershed, strengthening researches on lake environment and lake resources, are proposed to practice the sustainable utilization of lake resources.
