Is stochastic volatility more flexible than garch?

This paper compares the ability of GARCH and ARSV models to represent adequately the main empirical properties usually observed in high frequency financial time series: high kurtosis, small first order autocorrelation of squared observations and slow decay towards zero of the autocorrelation coefficients of squared observations. We show that the ARSV(1) model is more flexible than the GARCH(1,1) model in the sense that it is able to generate series with higher kurtosis and smaller first order autocorrelation of squares for a wider variety of parameter specifications. Our results may help to clarify some puzzles raised in the empirical analysis of real financial time series

Detecting level shifts in the presence of conditional heteroscedasticity.

The objective of this paper is to analyze the finite sample performance of two variants of the likelihood ratio test for detecting a level shift in uncorrelated conditionally heteroscedastic time series. We show that the behavior of the likelihood ratio test is not appropriate in this context whereas if the test statistic is appropriately standardized, it works better. We also compare two alternative procedures for testing for several level shifts. The results are illustrated by analyzing daily returns of exchange rates

Dispenses, disseminations and other impediments to marriage formation in the ecclesiastical court of Toluca

Este trabajo tiene como objetivo principal estudiar los conflictos prenupciales que tuvieron lugar bajo el orden colonial, a través de una serie de autos pertenecientes al fondo del juzgado eclesiástico de Toluca. A tal fin, se han analizado las dispensas matrimoniales tramitadas entre 1684 y 1784 por los feligreses de la ciudad de Toluca y de pueblos próximos, así como las disputas causadas por oposiciones e incumplimientos a las promesas de matrimonio ubicadas en la primera mitad del siglo XVIII.The main aim of this paper is to study the prenuptial conflicts that took place under the colonial order, through a set of the judicial summons from the stock of the ecclesiastical court of Toluca. To this end, marriage waivers processed between 1684 y 1784 by the parishioners of the city of Toluca and nearby towns, as well as the disputations caused by oppositions and unfulfilled promises of marriage during the first half of the 18th century, have been analyzed

Review of Elices Agudo, Juan Francisco (2004). Historical and theoretical approaches to English satire. München: Lincom Studies in English Linguistics

The origins of satire lead us to the origins of Western civilisation, both in its practice and in its earliest theorisation (Horace, Juvenal)1. Its complexity has always attracted the interest of criticism. Having this perspective in mind, the author has sought to provide a systematic analysis of satire that covers both aspects of history and theory. The work under analysis has therefore aimed to cope with those aspects which are essential to understand the peculiarities, functioning and implications of satire

Influencia del uso de las redes sociales en la perpetuación del discurso del amor romántico entre adolescentes

Las redes sociales, no son un modo más de comunicación en la vida adolescente, es la manera que tienen de interactuar y relacionarse con su grupo de pares. A través de su uso podemos comprobar cómo el discurso del amor romántico justifica mecanismos de control de la pareja. La aceptación entre adolescentes del mito de que los celos son una prueba de amor es quizás el más preocupante, ya que este control es considerado como una muestra de amor. Esta confusión puede derivar en el primer estadio del maltrato sin que se sea consciente de ello. Con esta investigación se pretende unir dos áreas ampliamente estudiadas por separado, la influencia del ideal romántico y el papel socializador que cumplen las redes sociales, y comprobar cómo influyen en la perpetuación de estos discursos del sistema sexo-género

Tracing the origins of ESP in Old English Ælfric's Colloquy and Cosmology

The present paper will analyse two different pieces by Ælfric, perhaps one of the leading prose-writers of the Old English period. These are, namely, his Cosmology –which may have been completed towards the year 993 (Burnley, 1992)–, and his Colloquy on the Occupations –composed a few years afterwards. These stand for two of the few writings that may be regarded as scientific prose in Old English, at a time when most of the prose works –not only scientific– were rendered in Latin, and when the greatest prose genres in Old English corresponded to history, philosophy or oratory. These two pieces are admittedly heterogeneous: on the one hand, the Cosmology may be said to combine aspects of both a religious and a scientific register; on the other hand, Ælfric’s Colloquy must have been intended as a companion to his Latin Grammar (Mitchell and Robinson, 1964/2007). Yet, as these authors also note, the work also offers us an overall panorama of the social structure of that time. Concretely, this means that certain characters speak about the main aspects of their trades. It is this feature that makes us approach this text as a kind of forerunner of a text in the sphere of “English for Specific Purposes”. In any case, it may be expected that many of the characteristic traits of Present Day English ESP texts will not apply, among other things, because of the differences in morphology and sentence structure between the two diachronic varieties. The two texts will be studied, with a view to offering a contrastive analysis of their characteristic features with those recurrent traits of Present-day English professional texts.

Yus, Francisco (2016). Humour and Relevance. Amsterdam and Philadelphia: John Benjamins

Relevance theory has been designed as a framework which seeks to account for ostensive-inferential communication (initiated by Sperber & Wilson 1986/1995; and developed by Blakemore 1992; Carston 2002; Wilson & Sperber 2004; Clark 2013, among others). Apart from significant studies on this theory concerning fields such as grammar, misunderstanding, identity and discourse, social media and multimodality, cyberpragmatics, metaphor or irony, over the years Francisco Yus has published extensively on the study of humour within this theory (e.g. Yus 2003, 2004, 2005, 2008, 2012, 2013, 2017; see also 1998a, 1998b for web pages created and constantly updated by Yus that offer a comprehensive account and the fullest range of all aspects of research undertaken within relevance theory)

El discurso humorístico de Antonio Robles Soler

Antonio Robles Soler es uno de los prosistas humoristas del grupo del veintisiete menos conocido, sin embargo fue el primero en realizar parodias de las novelas sentimentales y de aventuras al uso. Publicó algunas de sus novelas en la editorial Biblioteca Nueva, en la colección de “Grandes Novelas Humorísticas”. Sus relatos breves aparecieron en las revistas de humor de los años veinte y treinta, por ejemplo: “Buen Humor y Gutiérrez”. La fantasía, la ironía, un personal acento lírico y su visión crítica de la vida española de la época aparecen con fuerza en su narrativa. Incluye elementos absurdos. Su estilo se mueve entre el realismo y la vanguardia más decidida, resultando, en conjunto, francamente renovador.Antonio Robles Soler is one of the humorous prose writer of 27’s group less known, but he was the first one to realize parodys of both sentimental and adventures novels at that time. He published some of his novels in Biblioteca Nueva, in the colection of “Grandes Novelas Humorísticas”. His short storys appeared in the humorous reviews of twentys and thirtieths, for exemple: “Buen Humor y Gutiérrez”. His fantasy, his irony, his personal lyrical accent and his critical vision of the spanish life, are some of his characteristics. Robles includes also elements of absurd. His style is, on one hand, realistic, and, on the other hand, in the vanguard. As a whole, Robles is a revolutionary author

"Vidas a la deriva : la ruptura del sueño europeo". Reportaje sobre la crisis de los refugiados, las respuestas de la Unión Europea y los ejemplos de solidaridad ciudadana

Universidad de Sevilla. Grado en Periodism