id	sid	tid	token	lemma	pos
ajase-5514	1	1	pa	pa	PROPN
ajase-5514	1	2	ge	ge	PROPN
ajase-5514	1	3	1	1	NUM
ajase-5514	1	4	pa	pa	PROPN
ajase-5514	1	5	ge	ge	PROPN
ajase-5514	1	6	94	94	NUM
ajase-5514	1	7	american	american	PROPN
ajase-5514	1	8	journal	journal	PROPN
ajase-5514	1	9	of	of	ADP
ajase-5514	1	10	applied	apply	VERB
ajase-5514	1	11	statistics	statistic	NOUN
ajase-5514	1	12	and	and	CCONJ
ajase-5514	1	13	economics	economic	NOUN
ajase-5514	1	14	(	(	PUNCT
ajase-5514	1	15	ajase	ajase	ADJ
ajase-5514	1	16	)	)	PUNCT
ajase-5514	1	17	novel	novel	ADJ
ajase-5514	1	18	neural	neural	ADJ
ajase-5514	1	19	network	network	NOUN
ajase-5514	1	20	state	state	NOUN
ajase-5514	1	21	switching	switching	NOUN
ajase-5514	1	22	models	model	NOUN
ajase-5514	1	23	for	for	ADP
ajase-5514	1	24	returns	return	NOUN
ajase-5514	1	25	predicting	predict	VERB
ajase-5514	1	26	with	with	ADP
ajase-5514	1	27	regime	regime	NOUN
ajase-5514	1	28	switching	switching	NOUN
ajase-5514	1	29	:	:	PUNCT
ajase-5514	1	30	a	a	DET
ajase-5514	1	31	monte	monte	PROPN
ajase-5514	1	32	carlo	carlo	PROPN
ajase-5514	1	33	’s	’s	PART
ajase-5514	1	34	simulation	simulation	NOUN
ajase-5514	1	35	approach	approach	NOUN
ajase-5514	1	36	oluwasegun	oluwasegun	NOUN
ajase-5514	1	37	agbailu	agbailu	VERB
ajase-5514	1	38	adejumo1	adejumo1	PROPN
ajase-5514	1	39	*	*	PROPN
ajase-5514	1	40	,	,	PUNCT
ajase-5514	1	41	omorogbe	omorogbe	ADJ
ajase-5514	1	42	joseph	joseph	PROPN
ajase-5514	1	43	asemota1	asemota1	PROPN
ajase-5514	1	44	,	,	PUNCT
ajase-5514	1	45	samuel	samuel	PROPN
ajase-5514	1	46	olayemi	olayemi	PROPN
ajase-5514	1	47	olanrewaju1	olanrewaju1	PROPN
ajase-5514	1	48	volume	volume	NOUN
ajase-5514	1	49	4	4	NUM
ajase-5514	1	50	issue	issue	NOUN
ajase-5514	1	51	1	1	NUM
ajase-5514	1	52	,	,	PUNCT
ajase-5514	1	53	year	year	NOUN
ajase-5514	1	54	2025	2025	NUM
ajase-5514	1	55	issn	issn	NOUN
ajase-5514	1	56	:	:	PUNCT
ajase-5514	1	57	2992	2992	NUM
ajase-5514	1	58	-	-	PUNCT
ajase-5514	1	59	927x	927x	NOUN
ajase-5514	1	60	(	(	PUNCT
ajase-5514	1	61	online	online	ADJ
ajase-5514	1	62	)	)	PUNCT
ajase-5514	1	63	doi	doi	NOUN
ajase-5514	1	64	:	:	PUNCT
ajase-5514	1	65	https://doi.org/10.54536/ajase.v4i1.5514	https://doi.org/10.54536/ajase.v4i1.5514	PUNCT
ajase-5514	1	66	https://journals.e-palli.com/home/index.php/ajase	https://journals.e-palli.com/home/index.php/ajase	PROPN
ajase-5514	1	67	article	article	NOUN
ajase-5514	1	68	information	information	NOUN
ajase-5514	1	69	abstract	abstract	ADV
ajase-5514	1	70	received	receive	VERB
ajase-5514	1	71	:	:	PUNCT
ajase-5514	1	72	june	june	PROPN
ajase-5514	1	73	10	10	NUM
ajase-5514	1	74	,	,	PUNCT
ajase-5514	1	75	2025	2025	NUM
ajase-5514	1	76	accepted	accept	VERB
ajase-5514	1	77	:	:	PUNCT
ajase-5514	1	78	july	july	PROPN
ajase-5514	1	79	17	17	NUM
ajase-5514	1	80	,	,	PUNCT
ajase-5514	1	81	2025	2025	NUM
ajase-5514	1	82	published	publish	VERB
ajase-5514	1	83	:	:	PUNCT
ajase-5514	1	84	september	september	PROPN
ajase-5514	1	85	05	05	NUM
ajase-5514	1	86	,	,	PUNCT
ajase-5514	1	87	2025	2025	NUM
ajase-5514	1	88	this	this	DET
ajase-5514	1	89	study	study	NOUN
ajase-5514	1	90	proposes	propose	VERB
ajase-5514	1	91	new	new	ADJ
ajase-5514	1	92	neural	neural	ADJ
ajase-5514	1	93	network	network	NOUN
ajase-5514	1	94	state	state	NOUN
ajase-5514	1	95	switching	switching	NOUN
ajase-5514	1	96	models	model	NOUN
ajase-5514	1	97	that	that	PRON
ajase-5514	1	98	will	will	AUX
ajase-5514	1	99	improve	improve	VERB
ajase-5514	1	100	the	the	DET
ajase-5514	1	101	regime	regime	NOUN
ajase-5514	1	102	predictive	predictive	ADJ
ajase-5514	1	103	performance	performance	NOUN
ajase-5514	1	104	of	of	ADP
ajase-5514	1	105	nonlinear	nonlinear	ADJ
ajase-5514	1	106	time	time	NOUN
ajase-5514	1	107	series	series	PROPN
ajase-5514	1	108	returns	return	NOUN
ajase-5514	1	109	,	,	PUNCT
ajase-5514	1	110	in	in	ADP
ajase-5514	1	111	small	small	ADJ
ajase-5514	1	112	sample	sample	NOUN
ajase-5514	1	113	size	size	NOUN
ajase-5514	1	114	contexts	contexts	NOUN
ajase-5514	1	115	.	.	PUNCT
ajase-5514	2	1	in	in	ADP
ajase-5514	2	2	this	this	DET
ajase-5514	2	3	study	study	NOUN
ajase-5514	2	4	,	,	PUNCT
ajase-5514	2	5	we	we	PRON
ajase-5514	2	6	developed	develop	VERB
ajase-5514	2	7	four	four	NUM
ajase-5514	2	8	new	new	ADJ
ajase-5514	2	9	neural	neural	ADJ
ajase-5514	2	10	network	network	NOUN
ajase-5514	2	11	state	state	NOUN
ajase-5514	2	12	switching	switching	NOUN
ajase-5514	2	13	models	model	NOUN
ajase-5514	2	14	namely	namely	ADV
ajase-5514	2	15	recurrent	recurrent	VERB
ajase-5514	2	16	neural	neural	ADJ
ajase-5514	2	17	network	network	NOUN
ajase-5514	2	18	state	state	NOUN
ajase-5514	2	19	switching	switching	NOUN
ajase-5514	2	20	model	model	NOUN
ajase-5514	2	21	(	(	PUNCT
ajase-5514	2	22	rnnssm	rnnssm	NOUN
ajase-5514	2	23	)	)	PUNCT
ajase-5514	2	24	,	,	PUNCT
ajase-5514	2	25	generalized	generalize	VERB
ajase-5514	2	26	regression	regression	NOUN
ajase-5514	2	27	neural	neural	ADJ
ajase-5514	2	28	network	network	NOUN
ajase-5514	2	29	state	state	NOUN
ajase-5514	2	30	switching	switching	NOUN
ajase-5514	2	31	model	model	NOUN
ajase-5514	2	32	(	(	PUNCT
ajase-5514	2	33	grnnssm	grnnssm	NOUN
ajase-5514	2	34	)	)	PUNCT
ajase-5514	2	35	,	,	PUNCT
ajase-5514	2	36	radial	radial	ADJ
ajase-5514	2	37	basis	basis	NOUN
ajase-5514	2	38	function	function	NOUN
ajase-5514	2	39	network	network	NOUN
ajase-5514	2	40	state	state	NOUN
ajase-5514	2	41	switching	switching	NOUN
ajase-5514	2	42	model	model	NOUN
ajase-5514	2	43	(	(	PUNCT
ajase-5514	2	44	rbfssm	rbfssm	NOUN
ajase-5514	2	45	)	)	PUNCT
ajase-5514	2	46	and	and	CCONJ
ajase-5514	2	47	multilayer	multilayer	ADJ
ajase-5514	2	48	perceptrons	perceptron	NOUN
ajase-5514	2	49	state	state	NOUN
ajase-5514	2	50	switching	switching	NOUN
ajase-5514	2	51	model	model	NOUN
ajase-5514	2	52	(	(	PUNCT
ajase-5514	2	53	mlpssm	mlpssm	NOUN
ajase-5514	2	54	)	)	PUNCT
ajase-5514	2	55	.	.	PUNCT
ajase-5514	3	1	the	the	DET
ajase-5514	3	2	study	study	NOUN
ajase-5514	3	3	presents	present	VERB
ajase-5514	3	4	comparative	comparative	ADJ
ajase-5514	3	5	results	result	NOUN
ajase-5514	3	6	of	of	ADP
ajase-5514	3	7	the	the	DET
ajase-5514	3	8	estimations	estimation	NOUN
ajase-5514	3	9	of	of	ADP
ajase-5514	3	10	the	the	DET
ajase-5514	3	11	novel	novel	ADJ
ajase-5514	3	12	models	model	NOUN
ajase-5514	3	13	alongside	alongside	ADP
ajase-5514	3	14	the	the	DET
ajase-5514	3	15	traditional	traditional	ADJ
ajase-5514	3	16	markov	markov	NOUN
ajase-5514	3	17	state	state	NOUN
ajase-5514	3	18	switching	switching	NOUN
ajase-5514	3	19	model	model	NOUN
ajase-5514	3	20	as	as	ADV
ajase-5514	3	21	well	well	ADV
ajase-5514	3	22	as	as	ADP
ajase-5514	3	23	the	the	DET
ajase-5514	3	24	regime	regime	NOUN
ajase-5514	3	25	prediction	prediction	NOUN
ajase-5514	3	26	performances	performance	NOUN
ajase-5514	3	27	of	of	ADP
ajase-5514	3	28	the	the	DET
ajase-5514	3	29	models	model	NOUN
ajase-5514	3	30	using	use	VERB
ajase-5514	3	31	the	the	DET
ajase-5514	3	32	akaike	akaike	ADJ
ajase-5514	3	33	information	information	NOUN
ajase-5514	3	34	criterion	criterion	NOUN
ajase-5514	3	35	(	(	PUNCT
ajase-5514	3	36	aic	aic	PROPN
ajase-5514	3	37	)	)	PUNCT
ajase-5514	3	38	,	,	PUNCT
ajase-5514	3	39	log	log	NOUN
ajase-5514	3	40	-	-	PUNCT
ajase-5514	3	41	likelihood	likelihood	NOUN
ajase-5514	3	42	and	and	CCONJ
ajase-5514	3	43	prediction	prediction	NOUN
ajase-5514	3	44	accuracy	accuracy	NOUN
ajase-5514	3	45	measures	measure	NOUN
ajase-5514	3	46	under	under	ADP
ajase-5514	3	47	a	a	DET
ajase-5514	3	48	monte	monte	PROPN
ajase-5514	3	49	carlo	carlo	PROPN
ajase-5514	3	50	simulation	simulation	PROPN
ajase-5514	3	51	study	study	PROPN
ajase-5514	3	52	.	.	PUNCT
ajase-5514	4	1	evidence	evidence	NOUN
ajase-5514	4	2	from	from	ADP
ajase-5514	4	3	the	the	DET
ajase-5514	4	4	models	model	NOUN
ajase-5514	4	5	’	'	PUNCT
ajase-5514	4	6	estimation	estimation	NOUN
ajase-5514	4	7	results	result	VERB
ajase-5514	4	8	particularly	particularly	ADV
ajase-5514	4	9	the	the	DET
ajase-5514	4	10	aic	aic	PROPN
ajase-5514	4	11	and	and	CCONJ
ajase-5514	4	12	log	log	NOUN
ajase-5514	4	13	-	-	PUNCT
ajase-5514	4	14	likelihood	likelihood	NOUN
ajase-5514	4	15	statistics	statistic	NOUN
ajase-5514	4	16	established	establish	VERB
ajase-5514	4	17	the	the	DET
ajase-5514	4	18	novel	novel	ADJ
ajase-5514	4	19	multilayer	multilayer	NOUN
ajase-5514	4	20	perceptrons	perceptron	NOUN
ajase-5514	4	21	state	state	NOUN
ajase-5514	4	22	switching	switching	NOUN
ajase-5514	4	23	model	model	NOUN
ajase-5514	4	24	(	(	PUNCT
ajase-5514	4	25	mlpssm	mlpssm	NOUN
ajase-5514	4	26	)	)	PUNCT
ajase-5514	4	27	as	as	ADP
ajase-5514	4	28	the	the	DET
ajase-5514	4	29	parsimonious	parsimonious	ADJ
ajase-5514	4	30	model	model	NOUN
ajase-5514	4	31	for	for	ADP
ajase-5514	4	32	the	the	DET
ajase-5514	4	33	simulated	simulate	VERB
ajase-5514	4	34	returns	return	NOUN
ajase-5514	4	35	at	at	ADP
ajase-5514	4	36	small	small	ADJ
ajase-5514	4	37	sample	sample	NOUN
ajase-5514	4	38	sizes	size	NOUN
ajase-5514	4	39	.	.	PUNCT
ajase-5514	5	1	results	result	NOUN
ajase-5514	5	2	from	from	ADP
ajase-5514	5	3	the	the	DET
ajase-5514	5	4	models	model	NOUN
ajase-5514	5	5	’	'	PUNCT
ajase-5514	5	6	regime	regime	NOUN
ajase-5514	5	7	predictions	prediction	NOUN
ajase-5514	5	8	evaluation	evaluation	NOUN
ajase-5514	5	9	,	,	PUNCT
ajase-5514	5	10	precisely	precisely	ADV
ajase-5514	5	11	the	the	DET
ajase-5514	5	12	rmse	rmse	NOUN
ajase-5514	5	13	and	and	CCONJ
ajase-5514	5	14	mae	mae	PROPN
ajase-5514	5	15	,	,	PUNCT
ajase-5514	5	16	evidently	evidently	ADV
ajase-5514	5	17	affirmed	affirm	VERB
ajase-5514	5	18	the	the	DET
ajase-5514	5	19	novel	novel	ADJ
ajase-5514	5	20	mlpssm	mlpssm	NOUN
ajase-5514	5	21	model	model	NOUN
ajase-5514	5	22	as	as	ADV
ajase-5514	5	23	superior	superior	ADJ
ajase-5514	5	24	in	in	ADP
ajase-5514	5	25	its	its	PRON
ajase-5514	5	26	ability	ability	NOUN
ajase-5514	5	27	to	to	PART
ajase-5514	5	28	predict	predict	VERB
ajase-5514	5	29	or	or	CCONJ
ajase-5514	5	30	forecast	forecast	VERB
ajase-5514	5	31	market	market	NOUN
ajase-5514	5	32	returns	return	NOUN
ajase-5514	5	33	,	,	PUNCT
ajase-5514	5	34	particularly	particularly	ADV
ajase-5514	5	35	the	the	DET
ajase-5514	5	36	bull	bull	NOUN
ajase-5514	5	37	and	and	CCONJ
ajase-5514	5	38	bear	bear	NOUN
ajase-5514	5	39	regimes	regime	NOUN
ajase-5514	5	40	,	,	PUNCT
ajase-5514	5	41	at	at	ADP
ajase-5514	5	42	small	small	ADJ
ajase-5514	5	43	sample	sample	NOUN
ajase-5514	5	44	sizes	size	NOUN
ajase-5514	5	45	.	.	PUNCT
ajase-5514	6	1	therefore	therefore	ADV
ajase-5514	6	2	,	,	PUNCT
ajase-5514	6	3	this	this	DET
ajase-5514	6	4	study	study	NOUN
ajase-5514	6	5	concludes	conclude	VERB
ajase-5514	6	6	that	that	SCONJ
ajase-5514	6	7	the	the	DET
ajase-5514	6	8	novel	novel	NOUN
ajase-5514	6	9	mlpssm	mlpssm	NOUN
ajase-5514	6	10	is	be	AUX
ajase-5514	6	11	the	the	DET
ajase-5514	6	12	best	well	ADV
ajase-5514	6	13	-	-	PUNCT
ajase-5514	6	14	fitted	fit	VERB
ajase-5514	6	15	model	model	NOUN
ajase-5514	6	16	for	for	ADP
ajase-5514	6	17	market	market	NOUN
ajase-5514	6	18	returns	return	NOUN
ajase-5514	6	19	at	at	ADP
ajase-5514	6	20	small	small	ADJ
ajase-5514	6	21	sample	sample	NOUN
ajase-5514	6	22	sizes	size	NOUN
ajase-5514	6	23	with	with	ADP
ajase-5514	6	24	excellent	excellent	ADJ
ajase-5514	6	25	ability	ability	NOUN
ajase-5514	6	26	of	of	ADP
ajase-5514	6	27	market	market	NOUN
ajase-5514	6	28	returns	return	NOUN
ajase-5514	6	29	’	'	PUNCT
ajase-5514	6	30	regimes	regime	NOUN
ajase-5514	6	31	/	/	SYM
ajase-5514	6	32	states	state	NOUN
ajase-5514	6	33	(	(	PUNCT
ajase-5514	6	34	i.e.	i.e.	X
ajase-5514	6	35	,	,	PUNCT
ajase-5514	6	36	bull	bull	NOUN
ajase-5514	6	37	and	and	CCONJ
ajase-5514	6	38	bear	bear	NOUN
ajase-5514	6	39	)	)	PUNCT
ajase-5514	6	40	prediction	prediction	NOUN
ajase-5514	6	41	.	.	PUNCT
ajase-5514	7	1	this	this	DET
ajase-5514	7	2	study	study	NOUN
ajase-5514	7	3	recommends	recommend	VERB
ajase-5514	7	4	adoption	adoption	NOUN
ajase-5514	7	5	of	of	ADP
ajase-5514	7	6	the	the	DET
ajase-5514	7	7	novel	novel	ADJ
ajase-5514	7	8	multilayer	multilayer	NOUN
ajase-5514	7	9	perceptrons	perceptron	NOUN
ajase-5514	7	10	state	state	NOUN
ajase-5514	7	11	switching	switch	VERB
ajase-5514	7	12	model	model	NOUN
ajase-5514	7	13	in	in	ADP
ajase-5514	7	14	modelling	modelling	NOUN
ajase-5514	7	15	and	and	CCONJ
ajase-5514	7	16	regime	regime	NOUN
ajase-5514	7	17	predictions	prediction	NOUN
ajase-5514	7	18	of	of	ADP
ajase-5514	7	19	time	time	NOUN
ajase-5514	7	20	series	series	NOUN
ajase-5514	7	21	returns	return	NOUN
ajase-5514	7	22	.	.	PUNCT
ajase-5514	8	1	keywords	keyword	VERB
ajase-5514	8	2	markov	markov	NOUN
ajase-5514	8	3	process	process	NOUN
ajase-5514	8	4	,	,	PUNCT
ajase-5514	8	5	mlp	mlp	NOUN
ajase-5514	8	6	,	,	PUNCT
ajase-5514	8	7	neural	neural	ADJ
ajase-5514	8	8	network	network	NOUN
ajase-5514	8	9	,	,	PUNCT
ajase-5514	8	10	regime	regime	NOUN
ajase-5514	8	11	switching	switching	NOUN
ajase-5514	8	12	,	,	PUNCT
ajase-5514	8	13	returns	return	VERB
ajase-5514	8	14	1	1	NUM
ajase-5514	8	15	department	department	NOUN
ajase-5514	8	16	of	of	ADP
ajase-5514	8	17	statistics	statistic	NOUN
ajase-5514	8	18	,	,	PUNCT
ajase-5514	8	19	faculty	faculty	NOUN
ajase-5514	8	20	of	of	ADP
ajase-5514	8	21	science	science	NOUN
ajase-5514	8	22	,	,	PUNCT
ajase-5514	8	23	university	university	NOUN
ajase-5514	8	24	of	of	ADP
ajase-5514	8	25	abuja	abuja	PROPN
ajase-5514	8	26	,	,	PUNCT
ajase-5514	8	27	abuja	abuja	PROPN
ajase-5514	8	28	,	,	PUNCT
ajase-5514	8	29	nigeria	nigeria	PROPN
ajase-5514	8	30	*	*	PUNCT
ajase-5514	8	31	corresponding	correspond	VERB
ajase-5514	8	32	author	author	NOUN
ajase-5514	8	33	’s	’s	PART
ajase-5514	8	34	e	e	NOUN
ajase-5514	8	35	-	-	NOUN
ajase-5514	8	36	mail	mail	NOUN
ajase-5514	8	37	:	:	PUNCT
ajase-5514	8	38	agbailuoa@gmail.com	agbailuoa@gmail.com	X
ajase-5514	9	1	introduction	introduction	NOUN
ajase-5514	9	2	forecasting	forecasting	NOUN
ajase-5514	9	3	returns	return	NOUN
ajase-5514	9	4	is	be	AUX
ajase-5514	9	5	essential	essential	ADJ
ajase-5514	9	6	in	in	ADP
ajase-5514	9	7	financial	financial	ADJ
ajase-5514	9	8	modeling	modeling	NOUN
ajase-5514	9	9	and	and	CCONJ
ajase-5514	9	10	decision	decision	NOUN
ajase-5514	9	11	-	-	PUNCT
ajase-5514	9	12	making	making	NOUN
ajase-5514	9	13	.	.	PUNCT
ajase-5514	10	1	as	as	ADP
ajase-5514	10	2	a	a	DET
ajase-5514	10	3	measure	measure	NOUN
ajase-5514	10	4	of	of	ADP
ajase-5514	10	5	volatility	volatility	NOUN
ajase-5514	10	6	in	in	ADP
ajase-5514	10	7	time	time	NOUN
ajase-5514	10	8	series	series	PROPN
ajase-5514	10	9	,	,	PUNCT
ajase-5514	10	10	returns	return	NOUN
ajase-5514	10	11	exemplify	exemplify	VERB
ajase-5514	10	12	a	a	DET
ajase-5514	10	13	stochastic	stochastic	ADJ
ajase-5514	10	14	process	process	NOUN
ajase-5514	10	15	that	that	PRON
ajase-5514	10	16	indicates	indicate	VERB
ajase-5514	10	17	how	how	SCONJ
ajase-5514	10	18	much	much	ADJ
ajase-5514	10	19	variables	variable	NOUN
ajase-5514	10	20	fluctuate	fluctuate	NOUN
ajase-5514	10	21	over	over	ADP
ajase-5514	10	22	time	time	NOUN
ajase-5514	10	23	.	.	PUNCT
ajase-5514	11	1	accurate	accurate	ADJ
ajase-5514	11	2	return	return	NOUN
ajase-5514	11	3	prediction	prediction	NOUN
ajase-5514	11	4	is	be	AUX
ajase-5514	11	5	vital	vital	ADJ
ajase-5514	11	6	for	for	ADP
ajase-5514	11	7	assessing	assess	VERB
ajase-5514	11	8	risks	risk	NOUN
ajase-5514	11	9	in	in	ADP
ajase-5514	11	10	key	key	ADJ
ajase-5514	11	11	economic	economic	ADJ
ajase-5514	11	12	activities	activity	NOUN
ajase-5514	11	13	such	such	ADJ
ajase-5514	11	14	as	as	ADP
ajase-5514	11	15	value	value	NOUN
ajase-5514	11	16	at	at	ADP
ajase-5514	11	17	risk	risk	NOUN
ajase-5514	11	18	,	,	PUNCT
ajase-5514	11	19	asset	asset	NOUN
ajase-5514	11	20	pricing	pricing	NOUN
ajase-5514	11	21	,	,	PUNCT
ajase-5514	11	22	and	and	CCONJ
ajase-5514	11	23	exchange	exchange	NOUN
ajase-5514	11	24	rate	rate	NOUN
ajase-5514	11	25	management	management	NOUN
ajase-5514	11	26	(	(	PUNCT
ajase-5514	11	27	liao	liao	PROPN
ajase-5514	11	28	et	et	PROPN
ajase-5514	11	29	al	al	PROPN
ajase-5514	11	30	.	.	PROPN
ajase-5514	11	31	,	,	PUNCT
ajase-5514	11	32	2020	2020	NUM
ajase-5514	11	33	;	;	PUNCT
ajase-5514	11	34	adejumo	adejumo	PROPN
ajase-5514	11	35	et	et	PROPN
ajase-5514	11	36	al	al	PROPN
ajase-5514	11	37	.	.	PROPN
ajase-5514	11	38	,	,	PUNCT
ajase-5514	11	39	2020	2020	NUM
ajase-5514	11	40	;	;	PUNCT
ajase-5514	11	41	roy	roy	PROPN
ajase-5514	11	42	&	&	CCONJ
ajase-5514	11	43	sarkar	sarkar	PROPN
ajase-5514	11	44	,	,	PUNCT
ajase-5514	11	45	2024	2024	NUM
ajase-5514	11	46	)	)	PUNCT
ajase-5514	11	47	.	.	PUNCT
ajase-5514	12	1	in	in	ADP
ajase-5514	12	2	finance	finance	NOUN
ajase-5514	12	3	,	,	PUNCT
ajase-5514	12	4	returns	return	NOUN
ajase-5514	12	5	exhibit	exhibit	VERB
ajase-5514	12	6	three	three	NUM
ajase-5514	12	7	important	important	ADJ
ajase-5514	12	8	features	feature	NOUN
ajase-5514	12	9	:	:	PUNCT
ajase-5514	12	10	clustering	cluster	VERB
ajase-5514	12	11	property	property	NOUN
ajase-5514	12	12	(	(	PUNCT
ajase-5514	12	13	cont	cont	NOUN
ajase-5514	12	14	,	,	PUNCT
ajase-5514	12	15	2007	2007	NUM
ajase-5514	12	16	)	)	PUNCT
ajase-5514	12	17	,	,	PUNCT
ajase-5514	12	18	asymmetry	asymmetry	NOUN
ajase-5514	12	19	(	(	PUNCT
ajase-5514	12	20	nelson	nelson	PROPN
ajase-5514	12	21	,	,	PUNCT
ajase-5514	12	22	1992	1992	NUM
ajase-5514	12	23	)	)	PUNCT
ajase-5514	12	24	,	,	PUNCT
ajase-5514	12	25	and	and	CCONJ
ajase-5514	12	26	nonlinearity	nonlinearity	NOUN
ajase-5514	12	27	(	(	PUNCT
ajase-5514	12	28	maheu	maheu	PROPN
ajase-5514	12	29	&	&	CCONJ
ajase-5514	12	30	mccurdy	mccurdy	NOUN
ajase-5514	12	31	,	,	PUNCT
ajase-5514	12	32	2002	2002	NUM
ajase-5514	12	33	)	)	PUNCT
ajase-5514	12	34	.	.	PUNCT
ajase-5514	13	1	researchers	researcher	NOUN
ajase-5514	13	2	often	often	ADV
ajase-5514	13	3	encounter	encounter	VERB
ajase-5514	13	4	difficulties	difficulty	NOUN
ajase-5514	13	5	when	when	SCONJ
ajase-5514	13	6	modeling	modeling	NOUN
ajase-5514	13	7	and	and	CCONJ
ajase-5514	13	8	interpreting	interpret	VERB
ajase-5514	13	9	modern	modern	ADJ
ajase-5514	13	10	time	time	NOUN
ajase-5514	13	11	series	series	PROPN
ajase-5514	13	12	data	datum	NOUN
ajase-5514	13	13	from	from	ADP
ajase-5514	13	14	diverse	diverse	ADJ
ajase-5514	13	15	fields	field	NOUN
ajase-5514	13	16	because	because	SCONJ
ajase-5514	13	17	traditional	traditional	ADJ
ajase-5514	13	18	assumptions	assumption	NOUN
ajase-5514	13	19	—	—	PUNCT
ajase-5514	13	20	such	such	ADJ
ajase-5514	13	21	as	as	ADP
ajase-5514	13	22	linearity	linearity	NOUN
ajase-5514	13	23	,	,	PUNCT
ajase-5514	13	24	normality	normality	NOUN
ajase-5514	13	25	,	,	PUNCT
ajase-5514	13	26	and	and	CCONJ
ajase-5514	13	27	stationarity	stationarity	NOUN
ajase-5514	13	28	—	—	PUNCT
ajase-5514	13	29	are	be	AUX
ajase-5514	13	30	frequently	frequently	ADV
ajase-5514	13	31	inadequate	inadequate	ADJ
ajase-5514	13	32	.	.	PUNCT
ajase-5514	14	1	the	the	DET
ajase-5514	14	2	origins	origin	NOUN
ajase-5514	14	3	of	of	ADP
ajase-5514	14	4	returns	return	NOUN
ajase-5514	14	5	modeling	model	VERB
ajase-5514	14	6	trace	trace	NOUN
ajase-5514	14	7	back	back	ADV
ajase-5514	14	8	to	to	ADP
ajase-5514	14	9	engle	engle	NOUN
ajase-5514	14	10	(	(	PUNCT
ajase-5514	14	11	1982	1982	NUM
ajase-5514	14	12	)	)	PUNCT
ajase-5514	14	13	,	,	PUNCT
ajase-5514	14	14	and	and	CCONJ
ajase-5514	14	15	bollerslev	bollerslev	ADJ
ajase-5514	14	16	(	(	PUNCT
ajase-5514	14	17	1986	1986	NUM
ajase-5514	14	18	)	)	PUNCT
ajase-5514	14	19	,	,	PUNCT
ajase-5514	14	20	who	who	PRON
ajase-5514	14	21	introduced	introduce	VERB
ajase-5514	14	22	discrete	discrete	ADJ
ajase-5514	14	23	-	-	PUNCT
ajase-5514	14	24	time	time	NOUN
ajase-5514	14	25	garch	garch	NOUN
ajase-5514	14	26	and	and	CCONJ
ajase-5514	14	27	stochastic	stochastic	ADJ
ajase-5514	14	28	return	return	NOUN
ajase-5514	14	29	processes	process	NOUN
ajase-5514	14	30	for	for	ADP
ajase-5514	14	31	autoregressive	autoregressive	ADJ
ajase-5514	14	32	conditional	conditional	ADJ
ajase-5514	14	33	heteroskedasticity	heteroskedasticity	NOUN
ajase-5514	14	34	.	.	PUNCT
ajase-5514	15	1	however	however	ADV
ajase-5514	15	2	,	,	PUNCT
ajase-5514	15	3	as	as	SCONJ
ajase-5514	15	4	noted	note	VERB
ajase-5514	15	5	by	by	ADP
ajase-5514	15	6	hamilton	hamilton	PROPN
ajase-5514	15	7	(	(	PUNCT
ajase-5514	15	8	1989	1989	NUM
ajase-5514	15	9	)	)	PUNCT
ajase-5514	15	10	,	,	PUNCT
ajase-5514	15	11	nguyen	nguyen	NOUN
ajase-5514	15	12	et	et	PROPN
ajase-5514	15	13	al	al	PROPN
ajase-5514	15	14	.	.	PROPN
ajase-5514	15	15	(	(	PUNCT
ajase-5514	15	16	2014	2014	NUM
ajase-5514	15	17	)	)	PUNCT
ajase-5514	15	18	,	,	PUNCT
ajase-5514	15	19	aliyu	aliyu	NOUN
ajase-5514	15	20	and	and	CCONJ
ajase-5514	15	21	wambai	wambai	PROPN
ajase-5514	15	22	(	(	PUNCT
ajase-5514	15	23	2018	2018	NUM
ajase-5514	15	24	)	)	PUNCT
ajase-5514	15	25	,	,	PUNCT
ajase-5514	15	26	adejumo	adejumo	NOUN
ajase-5514	15	27	et	et	PROPN
ajase-5514	15	28	al	al	PROPN
ajase-5514	15	29	.	.	PROPN
ajase-5514	15	30	(	(	PUNCT
ajase-5514	15	31	2020	2020	NUM
ajase-5514	15	32	)	)	PUNCT
ajase-5514	15	33	,	,	PUNCT
ajase-5514	15	34	xiuqin	xiuqin	PROPN
ajase-5514	15	35	et	et	PROPN
ajase-5514	15	36	al	al	PROPN
ajase-5514	15	37	.	.	PROPN
ajase-5514	15	38	(	(	PUNCT
ajase-5514	15	39	2023	2023	NUM
ajase-5514	15	40	)	)	PUNCT
ajase-5514	15	41	,	,	PUNCT
ajase-5514	15	42	al	al	PROPN
ajase-5514	15	43	-	-	PUNCT
ajase-5514	15	44	sulaiman	sulaiman	PROPN
ajase-5514	15	45	(	(	PUNCT
ajase-5514	15	46	2024	2024	NUM
ajase-5514	15	47	)	)	PUNCT
ajase-5514	15	48	and	and	CCONJ
ajase-5514	15	49	others	other	NOUN
ajase-5514	15	50	,	,	PUNCT
ajase-5514	15	51	standard	standard	ADJ
ajase-5514	15	52	garch	garch	NOUN
ajase-5514	15	53	and	and	CCONJ
ajase-5514	15	54	stochastic	stochastic	NOUN
ajase-5514	15	55	models	model	NOUN
ajase-5514	15	56	can	can	AUX
ajase-5514	15	57	not	not	PART
ajase-5514	15	58	fully	fully	ADV
ajase-5514	15	59	capture	capture	VERB
ajase-5514	15	60	all	all	DET
ajase-5514	15	61	key	key	ADJ
ajase-5514	15	62	features	feature	NOUN
ajase-5514	15	63	of	of	ADP
ajase-5514	15	64	financial	financial	ADJ
ajase-5514	15	65	markets	market	NOUN
ajase-5514	15	66	.	.	PUNCT
ajase-5514	16	1	this	this	DET
ajase-5514	16	2	results	result	NOUN
ajase-5514	16	3	in	in	ADP
ajase-5514	16	4	complex	complex	ADJ
ajase-5514	16	5	nonlinear	nonlinear	ADJ
ajase-5514	16	6	dynamics	dynamic	NOUN
ajase-5514	16	7	and	and	CCONJ
ajase-5514	16	8	irregular	irregular	ADJ
ajase-5514	16	9	regime	regime	NOUN
ajase-5514	16	10	shifts	shift	NOUN
ajase-5514	16	11	.	.	PUNCT
ajase-5514	17	1	a	a	DET
ajase-5514	17	2	promising	promising	ADJ
ajase-5514	17	3	approach	approach	NOUN
ajase-5514	17	4	to	to	PART
ajase-5514	17	5	address	address	VERB
ajase-5514	17	6	these	these	DET
ajase-5514	17	7	challenges	challenge	NOUN
ajase-5514	17	8	is	be	AUX
ajase-5514	17	9	switching	switch	VERB
ajase-5514	17	10	state	state	NOUN
ajase-5514	17	11	modeling	modeling	NOUN
ajase-5514	17	12	.	.	PUNCT
ajase-5514	18	1	before	before	ADP
ajase-5514	18	2	switching	switch	VERB
ajase-5514	18	3	state	state	NOUN
ajase-5514	18	4	modeling	modeling	NOUN
ajase-5514	18	5	was	be	AUX
ajase-5514	18	6	used	use	VERB
ajase-5514	18	7	in	in	ADP
ajase-5514	18	8	returns	return	NOUN
ajase-5514	18	9	forecasting	forecasting	NOUN
ajase-5514	18	10	,	,	PUNCT
ajase-5514	18	11	the	the	DET
ajase-5514	18	12	hidden	hide	VERB
ajase-5514	18	13	markov	markov	NOUN
ajase-5514	18	14	model	model	NOUN
ajase-5514	18	15	(	(	PUNCT
ajase-5514	18	16	hmm	hmm	INTJ
ajase-5514	18	17	)	)	PUNCT
ajase-5514	18	18	was	be	AUX
ajase-5514	18	19	the	the	DET
ajase-5514	18	20	primary	primary	ADJ
ajase-5514	18	21	approach	approach	NOUN
ajase-5514	18	22	.	.	PUNCT
ajase-5514	19	1	the	the	DET
ajase-5514	19	2	hmm	hmm	NOUN
ajase-5514	19	3	is	be	AUX
ajase-5514	19	4	a	a	DET
ajase-5514	19	5	bivariate	bivariate	ADJ
ajase-5514	19	6	discrete	discrete	ADJ
ajase-5514	19	7	-	-	PUNCT
ajase-5514	19	8	time	time	NOUN
ajase-5514	19	9	process	process	NOUN
ajase-5514	19	10	,	,	PUNCT
ajase-5514	19	11	denoted	denote	VERB
ajase-5514	19	12	as	as	ADP
ajase-5514	19	13	{	{	PUNCT
ajase-5514	19	14	st	st	PROPN
ajase-5514	19	15	,	,	PUNCT
ajase-5514	19	16	yt}(t≥0	yt}(t≥0	PROPN
ajase-5514	19	17	)	)	PUNCT
ajase-5514	19	18	,	,	PUNCT
ajase-5514	19	19	where	where	SCONJ
ajase-5514	19	20	{	{	PUNCT
ajase-5514	19	21	st	st	NOUN
ajase-5514	19	22	}	}	PUNCT
ajase-5514	19	23	is	be	AUX
ajase-5514	19	24	an	an	DET
ajase-5514	19	25	underlying	underlying	ADJ
ajase-5514	19	26	markov	markov	NOUN
ajase-5514	19	27	chain	chain	NOUN
ajase-5514	19	28	,	,	PUNCT
ajase-5514	19	29	and	and	CCONJ
ajase-5514	19	30	{	{	PUNCT
ajase-5514	19	31	yt	yt	NOUN
ajase-5514	19	32	}	}	PUNCT
ajase-5514	19	33	is	be	AUX
ajase-5514	19	34	a	a	DET
ajase-5514	19	35	sequence	sequence	NOUN
ajase-5514	19	36	of	of	ADP
ajase-5514	19	37	independent	independent	ADJ
ajase-5514	19	38	random	random	ADJ
ajase-5514	19	39	variables	variable	NOUN
ajase-5514	19	40	.	.	PUNCT
ajase-5514	20	1	the	the	DET
ajase-5514	20	2	conditional	conditional	ADJ
ajase-5514	20	3	distribution	distribution	NOUN
ajase-5514	20	4	of	of	ADP
ajase-5514	20	5	yt	yt	PROPN
ajase-5514	20	6	depends	depend	VERB
ajase-5514	20	7	only	only	ADV
ajase-5514	20	8	on	on	ADP
ajase-5514	20	9	st	st	PROPN
ajase-5514	20	10	.	.	PROPN
ajase-5514	20	11	since	since	SCONJ
ajase-5514	20	12	st	st	PROPN
ajase-5514	20	13	is	be	AUX
ajase-5514	20	14	hidden	hide	VERB
ajase-5514	20	15	,	,	PUNCT
ajase-5514	20	16	only	only	ADV
ajase-5514	20	17	the	the	DET
ajase-5514	20	18	stochastic	stochastic	ADJ
ajase-5514	20	19	process	process	NOUN
ajase-5514	20	20	yt	yt	NOUN
ajase-5514	20	21	is	be	AUX
ajase-5514	20	22	observable	observable	ADJ
ajase-5514	20	23	.	.	PUNCT
ajase-5514	21	1	in	in	ADP
ajase-5514	21	2	other	other	ADJ
ajase-5514	21	3	words	word	NOUN
ajase-5514	21	4	,	,	PUNCT
ajase-5514	21	5	the	the	DET
ajase-5514	21	6	process	process	NOUN
ajase-5514	21	7	’s	’s	PART
ajase-5514	21	8	state	state	NOUN
ajase-5514	21	9	is	be	AUX
ajase-5514	21	10	not	not	PART
ajase-5514	21	11	directly	directly	ADV
ajase-5514	21	12	visible	visible	ADJ
ajase-5514	21	13	,	,	PUNCT
ajase-5514	21	14	but	but	CCONJ
ajase-5514	21	15	the	the	DET
ajase-5514	21	16	output	output	NOUN
ajase-5514	21	17	,	,	PUNCT
ajase-5514	21	18	which	which	PRON
ajase-5514	21	19	depends	depend	VERB
ajase-5514	21	20	on	on	ADP
ajase-5514	21	21	the	the	DET
ajase-5514	21	22	state	state	NOUN
ajase-5514	21	23	,	,	PUNCT
ajase-5514	21	24	is	be	AUX
ajase-5514	21	25	observable	observable	ADJ
ajase-5514	21	26	.	.	PUNCT
ajase-5514	22	1	therefore	therefore	ADV
ajase-5514	22	2	,	,	PUNCT
ajase-5514	22	3	all	all	DET
ajase-5514	22	4	statistical	statistical	ADJ
ajase-5514	22	5	inference	inference	NOUN
ajase-5514	22	6	must	must	AUX
ajase-5514	22	7	be	be	AUX
ajase-5514	22	8	based	base	VERB
ajase-5514	22	9	solely	solely	ADV
ajase-5514	22	10	on	on	ADP
ajase-5514	22	11	yt	yt	PROPN
ajase-5514	22	12	,	,	PUNCT
ajase-5514	22	13	as	as	SCONJ
ajase-5514	22	14	st	st	PROPN
ajase-5514	22	15	can	can	AUX
ajase-5514	22	16	not	not	PART
ajase-5514	22	17	be	be	AUX
ajase-5514	22	18	directly	directly	ADV
ajase-5514	22	19	observed	observe	VERB
ajase-5514	22	20	(	(	PUNCT
ajase-5514	22	21	rydén	rydén	NOUN
ajase-5514	22	22	2008	2008	NUM
ajase-5514	22	23	)	)	PUNCT
ajase-5514	22	24	.	.	PUNCT
ajase-5514	23	1	an	an	DET
ajase-5514	23	2	hmm	hmm	NOUN
ajase-5514	23	3	has	have	VERB
ajase-5514	23	4	a	a	DET
ajase-5514	23	5	distinctive	distinctive	ADJ
ajase-5514	23	6	dependence	dependence	NOUN
ajase-5514	23	7	structure	structure	NOUN
ajase-5514	23	8	,	,	PUNCT
ajase-5514	23	9	which	which	PRON
ajase-5514	23	10	is	be	AUX
ajase-5514	23	11	useful	useful	ADJ
ajase-5514	23	12	when	when	SCONJ
ajase-5514	23	13	analyzing	analyze	VERB
ajase-5514	23	14	financial	financial	ADJ
ajase-5514	23	15	time	time	NOUN
ajase-5514	23	16	series	series	NOUN
ajase-5514	23	17	.	.	PUNCT
ajase-5514	24	1	to	to	PART
ajase-5514	24	2	better	well	ADV
ajase-5514	24	3	understand	understand	VERB
ajase-5514	24	4	this	this	DET
ajase-5514	24	5	dependence	dependence	NOUN
ajase-5514	24	6	,	,	PUNCT
ajase-5514	24	7	it	it	PRON
ajase-5514	24	8	is	be	AUX
ajase-5514	24	9	illustrated	illustrate	VERB
ajase-5514	24	10	here	here	ADV
ajase-5514	24	11	(	(	PUNCT
ajase-5514	24	12	figure	figure	NOUN
ajase-5514	24	13	1	1	NUM
ajase-5514	24	14	)	)	PUNCT
ajase-5514	24	15	with	with	ADP
ajase-5514	24	16	a	a	DET
ajase-5514	24	17	graphical	graphical	ADJ
ajase-5514	24	18	model	model	NOUN
ajase-5514	24	19	.	.	PUNCT
ajase-5514	25	1	figure	figure	NOUN
ajase-5514	25	2	1	1	NUM
ajase-5514	25	3	:	:	PUNCT
ajase-5514	25	4	the	the	DET
ajase-5514	25	5	hmm	hmm	NOUN
ajase-5514	25	6	’s	’s	PART
ajase-5514	25	7	dependence	dependence	NOUN
ajase-5514	25	8	structure	structure	NOUN
ajase-5514	25	9	according	accord	VERB
ajase-5514	25	10	to	to	PART
ajase-5514	25	11	figure	figure	NOUN
ajase-5514	25	12	1	1	NUM
ajase-5514	25	13	,	,	PUNCT
ajase-5514	25	14	the	the	DET
ajase-5514	25	15	distribution	distribution	NOUN
ajase-5514	25	16	of	of	ADP
ajase-5514	25	17	a	a	DET
ajase-5514	25	18	variable	variable	ADJ
ajase-5514	25	19	s(t+1	s(t+1	NOUN
ajase-5514	25	20	)	)	PUNCT
ajase-5514	25	21	conditional	conditional	ADJ
ajase-5514	25	22	on	on	ADP
ajase-5514	25	23	the	the	DET
ajase-5514	25	24	history	history	NOUN
ajase-5514	25	25	of	of	ADP
ajase-5514	25	26	the	the	DET
ajase-5514	25	27	process	process	NOUN
ajase-5514	25	28	s0,s1,	s0,s1,	NOUN
ajase-5514	25	29	…	…	PUNCT
ajase-5514	25	30	,st	,st	NOUN
ajase-5514	25	31	,	,	PUNCT
ajase-5514	25	32	is	be	AUX
ajase-5514	25	33	determined	determine	VERB
ajase-5514	25	34	only	only	ADV
ajase-5514	25	35	by	by	ADP
ajase-5514	25	36	the	the	DET
ajase-5514	25	37	value	value	NOUN
ajase-5514	25	38	of	of	ADP
ajase-5514	25	39	the	the	DET
ajase-5514	25	40	preceding	precede	VERB
ajase-5514	25	41	variable	variable	ADJ
ajase-5514	25	42	st	st	PROPN
ajase-5514	25	43	.	.	PROPN
ajase-5514	26	1	this	this	PRON
ajase-5514	26	2	is	be	AUX
ajase-5514	26	3	all	all	PRON
ajase-5514	26	4	according	accord	VERB
ajase-5514	26	5	to	to	ADP
ajase-5514	26	6	the	the	DET
ajase-5514	26	7	markov	markov	NOUN
ajase-5514	26	8	property	property	NOUN
ajase-5514	26	9	,	,	PUNCT
ajase-5514	26	10	where	where	SCONJ
ajase-5514	26	11	future	future	ADJ
ajase-5514	26	12	events	event	NOUN
ajase-5514	26	13	are	be	AUX
ajase-5514	26	14	completely	completely	ADV
ajase-5514	26	15	independent	independent	ADJ
ajase-5514	26	16	of	of	ADP
ajase-5514	26	17	the	the	DET
ajase-5514	26	18	past	past	NOUN
ajase-5514	26	19	,	,	PUNCT
ajase-5514	26	20	pa	pa	PROPN
ajase-5514	26	21	ge	ge	PROPN
ajase-5514	26	22	95	95	NUM
ajase-5514	26	23	https://journals.e-palli.com/home/index.php/ajase	https://journals.e-palli.com/home/index.php/ajase	PROPN
ajase-5514	26	24	am	be	AUX
ajase-5514	26	25	.	.	PUNCT
ajase-5514	27	1	j.	j.	PROPN
ajase-5514	27	2	appl	appl	PROPN
ajase-5514	27	3	.	.	PROPN
ajase-5514	28	1	stat	stat	PROPN
ajase-5514	28	2	.	.	PUNCT
ajase-5514	29	1	econ	econ	PROPN
ajase-5514	29	2	.	.	PUNCT
ajase-5514	30	1	4(1	4(1	X
ajase-5514	30	2	)	)	PUNCT
ajase-5514	30	3	94	94	NUM
ajase-5514	30	4	-	-	SYM
ajase-5514	30	5	107	107	NUM
ajase-5514	30	6	,	,	PUNCT
ajase-5514	30	7	2025	2025	NUM
ajase-5514	30	8	depending	depend	VERB
ajase-5514	30	9	only	only	ADV
ajase-5514	30	10	on	on	ADP
ajase-5514	30	11	the	the	DET
ajase-5514	30	12	present	present	ADJ
ajase-5514	30	13	state	state	NOUN
ajase-5514	30	14	.	.	PUNCT
ajase-5514	31	1	in	in	ADP
ajase-5514	31	2	addition	addition	NOUN
ajase-5514	31	3	,	,	PUNCT
ajase-5514	31	4	the	the	DET
ajase-5514	31	5	distribution	distribution	NOUN
ajase-5514	31	6	of	of	ADP
ajase-5514	31	7	yt	yt	PRON
ajase-5514	31	8	conditionally	conditionally	ADV
ajase-5514	31	9	on	on	ADP
ajase-5514	31	10	the	the	DET
ajase-5514	31	11	past	past	ADJ
ajase-5514	31	12	observations	observation	NOUN
ajase-5514	31	13	y0,y1,	y0,y1,	ADJ
ajase-5514	31	14	…	…	PUNCT
ajase-5514	31	15	,y(t-1	,y(t-1	PROPN
ajase-5514	31	16	)	)	PUNCT
ajase-5514	31	17	and	and	CCONJ
ajase-5514	31	18	the	the	DET
ajase-5514	31	19	past	past	ADJ
ajase-5514	31	20	values	value	NOUN
ajase-5514	31	21	of	of	ADP
ajase-5514	31	22	the	the	DET
ajase-5514	31	23	state	state	NOUN
ajase-5514	31	24	,	,	PUNCT
ajase-5514	31	25	s0,s1	s0,s1	PROPN
ajase-5514	31	26	,	,	PUNCT
ajase-5514	31	27	…	…	PUNCT
ajase-5514	31	28	,	,	PUNCT
ajase-5514	31	29	st	st	PROPN
ajase-5514	31	30	,	,	PUNCT
ajase-5514	31	31	is	be	AUX
ajase-5514	31	32	determined	determine	VERB
ajase-5514	31	33	by	by	ADP
ajase-5514	31	34	st	st	PROPN
ajase-5514	31	35	only	only	ADV
ajase-5514	31	36	(	(	PUNCT
ajase-5514	31	37	rydén	rydén	NOUN
ajase-5514	31	38	2008	2008	NUM
ajase-5514	31	39	)	)	PUNCT
ajase-5514	31	40	.	.	PUNCT
ajase-5514	32	1	putting	put	VERB
ajase-5514	32	2	this	this	PRON
ajase-5514	32	3	into	into	ADP
ajase-5514	32	4	mathematical	mathematical	ADJ
ajase-5514	32	5	terms	term	NOUN
ajase-5514	32	6	,	,	PUNCT
ajase-5514	32	7	we	we	PRON
ajase-5514	32	8	get	get	VERB
ajase-5514	32	9	f(s(t+1)	f(s(t+1)	PROPN
ajase-5514	32	10	│	│	PUNCT
ajase-5514	32	11	st	st	PROPN
ajase-5514	32	12	,	,	PUNCT
ajase-5514	32	13	s(t1),	s(t1),	NOUN
ajase-5514	32	14	…	…	SYM
ajase-5514	32	15	,s1)=f(s(t+1)	,s1)=f(s(t+1)	PUNCT
ajase-5514	32	16	│	│	NOUN
ajase-5514	32	17	st	st	NOUN
ajase-5514	32	18	)	)	PUNCT
ajase-5514	32	19	and	and	CCONJ
ajase-5514	32	20	f(yt	f(yt	NOUN
ajase-5514	32	21	│	│	NUM
ajase-5514	32	22	s(t-1),s(t-2),	s(t-1),s(t-2),	NOUN
ajase-5514	32	23	…	…	SYM
ajase-5514	32	24	s1)=f(yt|st	s1)=f(yt|st	NOUN
ajase-5514	32	25	.	.	PUNCT
ajase-5514	33	1	cconsequently	cconsequently	ADV
ajase-5514	33	2	,	,	PUNCT
ajase-5514	33	3	markov	markov	NOUN
ajase-5514	33	4	state	state	NOUN
ajase-5514	33	5	switching	switching	NOUN
ajase-5514	33	6	model	model	NOUN
ajase-5514	33	7	(	(	PUNCT
ajase-5514	33	8	mssm	mssm	NOUN
ajase-5514	33	9	)	)	PUNCT
ajase-5514	33	10	was	be	AUX
ajase-5514	33	11	introduced	introduce	VERB
ajase-5514	33	12	by	by	ADP
ajase-5514	33	13	hamilton	hamilton	PROPN
ajase-5514	33	14	to	to	PART
ajase-5514	33	15	address	address	VERB
ajase-5514	33	16	the	the	DET
ajase-5514	33	17	hidden	hide	VERB
ajase-5514	33	18	states	state	NOUN
ajase-5514	33	19	weakness	weakness	NOUN
ajase-5514	33	20	of	of	ADP
ajase-5514	33	21	the	the	DET
ajase-5514	33	22	hmm	hmm	INTJ
ajase-5514	33	23	(	(	PUNCT
ajase-5514	33	24	hamilton	hamilton	PROPN
ajase-5514	33	25	,	,	PUNCT
ajase-5514	33	26	2005	2005	NUM
ajase-5514	33	27	)	)	PUNCT
ajase-5514	33	28	.	.	PUNCT
ajase-5514	34	1	to	to	PART
ajase-5514	34	2	describe	describe	VERB
ajase-5514	34	3	the	the	DET
ajase-5514	34	4	mssm	mssm	NOUN
ajase-5514	34	5	,	,	PUNCT
ajase-5514	34	6	the	the	DET
ajase-5514	34	7	number	number	NOUN
ajase-5514	34	8	of	of	ADP
ajase-5514	34	9	states	state	NOUN
ajase-5514	34	10	(	(	PUNCT
ajase-5514	34	11	or	or	CCONJ
ajase-5514	34	12	regimes	regime	NOUN
ajase-5514	34	13	)	)	PUNCT
ajase-5514	34	14	is	be	AUX
ajase-5514	34	15	assumed	assume	VERB
ajase-5514	34	16	n	n	ADP
ajase-5514	34	17	,	,	PUNCT
ajase-5514	34	18	i.e.	i.e.	X
ajase-5514	34	19	st	st	PROPN
ajase-5514	34	20	ω={1,	ω={1,	NOUN
ajase-5514	34	21	…	…	SYM
ajase-5514	34	22	,n	,n	NOUN
ajase-5514	34	23	}	}	PUNCT
ajase-5514	34	24	.	.	PUNCT
ajase-5514	35	1	this	this	PRON
ajase-5514	35	2	implies	imply	VERB
ajase-5514	35	3	that	that	SCONJ
ajase-5514	35	4	;	;	PUNCT
ajase-5514	35	5	for	for	ADP
ajase-5514	35	6	instance	instance	NOUN
ajase-5514	35	7	the	the	DET
ajase-5514	35	8	log	log	NOUN
ajase-5514	35	9	returns	return	NOUN
ajase-5514	35	10	of	of	ADP
ajase-5514	35	11	financial	financial	ADJ
ajase-5514	35	12	time	time	NOUN
ajase-5514	35	13	series	series	NOUN
ajase-5514	35	14	are	be	AUX
ajase-5514	35	15	drawn	draw	VERB
ajase-5514	35	16	from	from	ADP
ajase-5514	35	17	n	n	PRON
ajase-5514	35	18	distinct	distinct	ADJ
ajase-5514	35	19	normal	normal	ADJ
ajase-5514	35	20	distributions	distribution	NOUN
ajase-5514	35	21	,	,	PUNCT
ajase-5514	35	22	depending	depend	VERB
ajase-5514	35	23	on	on	ADP
ajase-5514	35	24	what	what	DET
ajase-5514	35	25	state	state	NOUN
ajase-5514	35	26	the	the	DET
ajase-5514	35	27	hmm	hmm	NOUN
ajase-5514	35	28	is	be	AUX
ajase-5514	35	29	currently	currently	ADV
ajase-5514	35	30	in	in	ADP
ajase-5514	35	31	.	.	PUNCT
ajase-5514	36	1	this	this	PRON
ajase-5514	36	2	resolve	resolve	NOUN
ajase-5514	36	3	to	to	ADP
ajase-5514	36	4	below	below	ADP
ajase-5514	36	5	models	model	NOUN
ajase-5514	36	6	:	:	PUNCT
ajase-5514	36	7	y(t=1)=μ1+ϵt	y(t=1)=μ1+ϵt	NOUN
ajase-5514	36	8	;	;	PUNCT
ajase-5514	36	9	where	where	SCONJ
ajase-5514	36	10	ϵt~(n	ϵt~(n	PROPN
ajase-5514	36	11	,	,	PUNCT
ajase-5514	36	12	σ2	σ2	NOUN
ajase-5514	36	13	1	1	NUM
ajase-5514	36	14	)	)	PUNCT
ajase-5514	36	15	for	for	ADP
ajase-5514	36	16	state	state	NOUN
ajase-5514	36	17	1	1	NUM
ajase-5514	36	18	y(t=2)=μ2+ϵt	y(t=2)=μ2+ϵt	NOUN
ajase-5514	36	19	;	;	PUNCT
ajase-5514	36	20	where	where	SCONJ
ajase-5514	36	21	ϵt~(n	ϵt~(n	PROPN
ajase-5514	36	22	,	,	PUNCT
ajase-5514	36	23	σ2	σ2	NOUN
ajase-5514	36	24	2	2	NUM
ajase-5514	36	25	)	)	PUNCT
ajase-5514	36	26	for	for	ADP
ajase-5514	36	27	state	state	NOUN
ajase-5514	36	28	2	2	NUM
ajase-5514	36	29	⋮	⋮	NOUN
ajase-5514	36	30	(	(	PUNCT
ajase-5514	36	31	1	1	NUM
ajase-5514	36	32	)	)	PUNCT
ajase-5514	36	33	y(t	y(t	NUM
ajase-5514	36	34	=	=	SYM
ajase-5514	36	35	n)=μn+ϵt	n)=μn+ϵt	PROPN
ajase-5514	36	36	;	;	PUNCT
ajase-5514	36	37	where	where	SCONJ
ajase-5514	36	38	ϵt~(n	ϵt~(n	PROPN
ajase-5514	36	39	,	,	PUNCT
ajase-5514	36	40	σ2	σ2	NOUN
ajase-5514	36	41	n	n	CCONJ
ajase-5514	36	42	)	)	PUNCT
ajase-5514	36	43	for	for	ADP
ajase-5514	36	44	state	state	NOUN
ajase-5514	36	45	n	n	X
ajase-5514	36	46	by	by	ADP
ajase-5514	36	47	implication	implication	NOUN
ajase-5514	36	48	,	,	PUNCT
ajase-5514	36	49	when	when	SCONJ
ajase-5514	36	50	the	the	DET
ajase-5514	36	51	state	state	NOUN
ajase-5514	36	52	of	of	ADP
ajase-5514	36	53	the	the	DET
ajase-5514	36	54	hmm	hmm	NOUN
ajase-5514	36	55	for	for	ADP
ajase-5514	36	56	time	time	NOUN
ajase-5514	36	57	t	t	PROPN
ajase-5514	36	58	is	be	AUX
ajase-5514	36	59	1	1	NUM
ajase-5514	36	60	,	,	PUNCT
ajase-5514	36	61	then	then	ADV
ajase-5514	36	62	the	the	DET
ajase-5514	36	63	expectation	expectation	NOUN
ajase-5514	36	64	of	of	ADP
ajase-5514	36	65	the	the	DET
ajase-5514	36	66	dependent	dependent	ADJ
ajase-5514	36	67	variable	variable	NOUN
ajase-5514	36	68	is	be	AUX
ajase-5514	36	69	μ1	μ1	NOUN
ajase-5514	36	70	with	with	ADP
ajase-5514	36	71	variance	variance	NOUN
ajase-5514	36	72	of	of	ADP
ajase-5514	36	73	innovations	innovation	NOUN
ajase-5514	36	74	σ2	σ2	PROPN
ajase-5514	36	75	1	1	NUM
ajase-5514	36	76	,	,	PUNCT
ajase-5514	36	77	similarly	similarly	ADV
ajase-5514	36	78	when	when	SCONJ
ajase-5514	36	79	the	the	DET
ajase-5514	36	80	state	state	NOUN
ajase-5514	36	81	of	of	ADP
ajase-5514	36	82	the	the	DET
ajase-5514	36	83	hmm	hmm	NOUN
ajase-5514	36	84	for	for	ADP
ajase-5514	36	85	time	time	NOUN
ajase-5514	36	86	t	t	PROPN
ajase-5514	36	87	is	be	AUX
ajase-5514	36	88	2	2	NUM
ajase-5514	36	89	,	,	PUNCT
ajase-5514	36	90	then	then	ADV
ajase-5514	36	91	the	the	DET
ajase-5514	36	92	expectation	expectation	NOUN
ajase-5514	36	93	of	of	ADP
ajase-5514	36	94	the	the	DET
ajase-5514	36	95	dependent	dependent	ADJ
ajase-5514	36	96	variable	variable	NOUN
ajase-5514	36	97	is	be	AUX
ajase-5514	36	98	μ2	μ2	NOUN
ajase-5514	36	99	with	with	ADP
ajase-5514	36	100	variance	variance	NOUN
ajase-5514	36	101	of	of	ADP
ajase-5514	36	102	innovations	innovation	NOUN
ajase-5514	36	103	σ2	σ2	PROPN
ajase-5514	36	104	2	2	NUM
ajase-5514	36	105	and	and	CCONJ
ajase-5514	36	106	so	so	ADV
ajase-5514	36	107	on	on	ADV
ajase-5514	36	108	.	.	PUNCT
ajase-5514	37	1	since	since	SCONJ
ajase-5514	37	2	the	the	DET
ajase-5514	37	3	underlying	underlie	VERB
ajase-5514	37	4	markov	markov	NOUN
ajase-5514	37	5	chain	chain	NOUN
ajase-5514	37	6	is	be	AUX
ajase-5514	37	7	hidden	hide	VERB
ajase-5514	37	8	one	one	NUM
ajase-5514	37	9	can	can	AUX
ajase-5514	37	10	not	not	PART
ajase-5514	37	11	observe	observe	VERB
ajase-5514	37	12	what	what	PRON
ajase-5514	37	13	state	state	NOUN
ajase-5514	37	14	the	the	DET
ajase-5514	37	15	hmm	hmm	NOUN
ajase-5514	37	16	is	be	AUX
ajase-5514	37	17	in	in	ADP
ajase-5514	37	18	directly	directly	ADV
ajase-5514	37	19	,	,	PUNCT
ajase-5514	37	20	but	but	CCONJ
ajase-5514	37	21	only	only	ADV
ajase-5514	37	22	deduce	deduce	VERB
ajase-5514	37	23	its	its	PRON
ajase-5514	37	24	operation	operation	NOUN
ajase-5514	37	25	through	through	ADP
ajase-5514	37	26	the	the	DET
ajase-5514	37	27	observed	observed	ADJ
ajase-5514	37	28	behaviour	behaviour	NOUN
ajase-5514	37	29	of	of	ADP
ajase-5514	37	30	yt	yt	PROPN
ajase-5514	37	31	.	.	PUNCT
ajase-5514	38	1	in	in	ADP
ajase-5514	38	2	order	order	NOUN
ajase-5514	38	3	to	to	PART
ajase-5514	38	4	attain	attain	VERB
ajase-5514	38	5	the	the	DET
ajase-5514	38	6	probability	probability	NOUN
ajase-5514	38	7	law	law	NOUN
ajase-5514	38	8	governing	govern	VERB
ajase-5514	38	9	the	the	DET
ajase-5514	38	10	observed	observe	VERB
ajase-5514	38	11	data	datum	NOUN
ajase-5514	38	12	yt	yt	VERB
ajase-5514	38	13	a	a	DET
ajase-5514	38	14	probabilistic	probabilistic	ADJ
ajase-5514	38	15	model	model	NOUN
ajase-5514	38	16	of	of	ADP
ajase-5514	38	17	what	what	PRON
ajase-5514	38	18	causes	cause	VERB
ajase-5514	38	19	the	the	DET
ajase-5514	38	20	change	change	NOUN
ajase-5514	38	21	from	from	ADP
ajase-5514	38	22	state	state	PROPN
ajase-5514	38	23	st	st	PROPN
ajase-5514	38	24	=	=	PROPN
ajase-5514	38	25	i	i	PROPN
ajase-5514	38	26	to	to	ADP
ajase-5514	38	27	state	state	PROPN
ajase-5514	38	28	st	st	PROPN
ajase-5514	38	29	=	=	PROPN
ajase-5514	38	30	j	j	PROPN
ajase-5514	38	31	is	be	AUX
ajase-5514	38	32	required	require	VERB
ajase-5514	38	33	.	.	PUNCT
ajase-5514	39	1	this	this	PRON
ajase-5514	39	2	can	can	AUX
ajase-5514	39	3	be	be	AUX
ajase-5514	39	4	specified	specify	VERB
ajase-5514	39	5	using	use	VERB
ajase-5514	39	6	the	the	DET
ajase-5514	39	7	transition	transition	NOUN
ajase-5514	39	8	probabilities	probability	NOUN
ajase-5514	39	9	of	of	ADP
ajase-5514	39	10	an	an	DET
ajase-5514	39	11	n	n	PRON
ajase-5514	39	12	state	state	NOUN
ajase-5514	39	13	hmm	hmm	NOUN
ajase-5514	39	14	;	;	PUNCT
ajase-5514	39	15	ρ(i	ρ(i	PROPN
ajase-5514	39	16	,	,	PUNCT
ajase-5514	39	17	j)=pr	j)=pr	PROPN
ajase-5514	39	18	(	(	PUNCT
ajase-5514	39	19	st	st	PROPN
ajase-5514	39	20	=	=	PROPN
ajase-5514	39	21	j	j	NOUN
ajase-5514	39	22	│	│	VERB
ajase-5514	39	23	s(t-1)=i	s(t-1)=i	ADJ
ajase-5514	39	24	)	)	PUNCT
ajase-5514	39	25	i	i	PROPN
ajase-5514	39	26	,	,	PUNCT
ajase-5514	39	27	j∈ω={1,2,	j∈ω={1,2,	NOUN
ajase-5514	39	28	…	…	X
ajase-5514	39	29	,n	,n	NOUN
ajase-5514	39	30	}	}	PUNCT
ajase-5514	39	31	.	.	PUNCT
ajase-5514	40	1	the	the	DET
ajase-5514	40	2	transition	transition	NOUN
ajase-5514	40	3	probability	probability	NOUN
ajase-5514	40	4	i.e.	i.e.	X
ajase-5514	40	5	ρ(i	ρ(i	PROPN
ajase-5514	40	6	,	,	PUNCT
ajase-5514	40	7	j)=pr	j)=pr	PROPN
ajase-5514	40	8	(	(	PUNCT
ajase-5514	40	9	st	st	PROPN
ajase-5514	40	10	=	=	PROPN
ajase-5514	40	11	j	j	NOUN
ajase-5514	40	12	│	│	VERB
ajase-5514	40	13	s(t-1)=i)=pr	s(t-1)=i)=pr	NOUN
ajase-5514	40	14	(	(	PUNCT
ajase-5514	40	15	st	st	PROPN
ajase-5514	40	16	=	=	PROPN
ajase-5514	40	17	j	j	NOUN
ajase-5514	40	18	}	}	PUNCT
ajase-5514	40	19	s(t-1)=i	s(t-1)=i	ADJ
ajase-5514	40	20	,	,	PUNCT
ajase-5514	40	21	s(t-2)=k,	s(t-2)=k,	NOUN
ajase-5514	40	22	…	…	SYM
ajase-5514	40	23	,s1	,s1	PUNCT
ajase-5514	40	24	=	=	SYM
ajase-5514	40	25	l	l	NOUN
ajase-5514	40	26	)	)	PUNCT
ajase-5514	40	27	is	be	AUX
ajase-5514	40	28	dependent	dependent	ADJ
ajase-5514	40	29	of	of	ADP
ajase-5514	40	30	the	the	DET
ajase-5514	40	31	past	past	NOUN
ajase-5514	40	32	only	only	ADV
ajase-5514	40	33	through	through	ADP
ajase-5514	40	34	the	the	DET
ajase-5514	40	35	value	value	NOUN
ajase-5514	40	36	of	of	ADP
ajase-5514	40	37	the	the	DET
ajase-5514	40	38	most	most	ADV
ajase-5514	40	39	recent	recent	ADJ
ajase-5514	40	40	state	state	NOUN
ajase-5514	40	41	.	.	PUNCT
ajase-5514	41	1	this	this	PRON
ajase-5514	41	2	is	be	AUX
ajase-5514	41	3	one	one	NUM
ajase-5514	41	4	of	of	ADP
ajase-5514	41	5	the	the	DET
ajase-5514	41	6	central	central	ADJ
ajase-5514	41	7	points	point	NOUN
ajase-5514	41	8	of	of	ADP
ajase-5514	41	9	the	the	DET
ajase-5514	41	10	structure	structure	NOUN
ajase-5514	41	11	of	of	ADP
ajase-5514	41	12	a	a	DET
ajase-5514	41	13	markov	markov	NOUN
ajase-5514	41	14	regime	regime	NOUN
ajase-5514	41	15	switching	switch	VERB
ajase-5514	41	16	model	model	NOUN
ajase-5514	41	17	,	,	PUNCT
ajase-5514	41	18	i.e.	i.e.	X
ajase-5514	41	19	the	the	DET
ajase-5514	41	20	switching	switching	NOUN
ajase-5514	41	21	of	of	ADP
ajase-5514	41	22	the	the	DET
ajase-5514	41	23	states	state	NOUN
ajase-5514	41	24	of	of	ADP
ajase-5514	41	25	the	the	DET
ajase-5514	41	26	underlying	underlie	VERB
ajase-5514	41	27	hmm	hmm	NOUN
ajase-5514	41	28	is	be	AUX
ajase-5514	41	29	a	a	DET
ajase-5514	41	30	stochastic	stochastic	ADJ
ajase-5514	41	31	process	process	NOUN
ajase-5514	41	32	itself	itself	PRON
ajase-5514	41	33	.	.	PUNCT
ajase-5514	42	1	the	the	DET
ajase-5514	42	2	state	state	NOUN
ajase-5514	42	3	-	-	PUNCT
ajase-5514	42	4	switching	switch	VERB
ajase-5514	42	5	modelling	modelling	NOUN
ajase-5514	42	6	approach	approach	NOUN
ajase-5514	42	7	has	have	AUX
ajase-5514	42	8	proven	prove	VERB
ajase-5514	42	9	to	to	PART
ajase-5514	42	10	be	be	AUX
ajase-5514	42	11	more	more	ADV
ajase-5514	42	12	reliable	reliable	ADJ
ajase-5514	42	13	in	in	ADP
ajase-5514	42	14	this	this	DET
ajase-5514	42	15	aspect	aspect	NOUN
ajase-5514	42	16	in	in	SCONJ
ajase-5514	42	17	that	that	SCONJ
ajase-5514	42	18	it	it	PRON
ajase-5514	42	19	models	model	VERB
ajase-5514	42	20	all	all	DET
ajase-5514	42	21	observed	observed	ADJ
ajase-5514	42	22	salient	salient	NOUN
ajase-5514	42	23	features	feature	NOUN
ajase-5514	42	24	of	of	ADP
ajase-5514	42	25	returns	return	NOUN
ajase-5514	42	26	.	.	PUNCT
ajase-5514	43	1	the	the	DET
ajase-5514	43	2	approach	approach	NOUN
ajase-5514	43	3	has	have	AUX
ajase-5514	43	4	documented	document	VERB
ajase-5514	43	5	the	the	DET
ajase-5514	43	6	distinctiveness	distinctiveness	NOUN
ajase-5514	43	7	and	and	CCONJ
ajase-5514	43	8	forecasting	forecast	VERB
ajase-5514	43	9	capabilities	capability	NOUN
ajase-5514	43	10	of	of	ADP
ajase-5514	43	11	regime	regime	NOUN
ajase-5514	43	12	switching	switch	VERB
ajase-5514	43	13	models	model	NOUN
ajase-5514	43	14	against	against	ADP
ajase-5514	43	15	the	the	DET
ajase-5514	43	16	commonly	commonly	ADV
ajase-5514	43	17	used	use	VERB
ajase-5514	43	18	garch	garch	NOUN
ajase-5514	43	19	models	model	NOUN
ajase-5514	43	20	.	.	PUNCT
ajase-5514	44	1	thus	thus	ADV
ajase-5514	44	2	,	,	PUNCT
ajase-5514	44	3	as	as	ADP
ajase-5514	44	4	a	a	DET
ajase-5514	44	5	result	result	NOUN
ajase-5514	44	6	its	its	PRON
ajase-5514	44	7	application	application	NOUN
ajase-5514	44	8	has	have	AUX
ajase-5514	44	9	widely	widely	ADV
ajase-5514	44	10	increased	increase	VERB
ajase-5514	44	11	over	over	ADP
ajase-5514	44	12	time	time	NOUN
ajase-5514	44	13	.	.	PUNCT
ajase-5514	45	1	furthermore	furthermore	ADV
ajase-5514	45	2	,	,	PUNCT
ajase-5514	45	3	machine	machine	NOUN
ajase-5514	45	4	learning	learning	NOUN
ajase-5514	45	5	(	(	PUNCT
ajase-5514	45	6	ml	ml	NOUN
ajase-5514	45	7	)	)	PUNCT
ajase-5514	45	8	techniques	technique	NOUN
ajase-5514	45	9	also	also	ADV
ajase-5514	45	10	possess	possess	VERB
ajase-5514	45	11	high	high	ADJ
ajase-5514	45	12	capabilities	capability	NOUN
ajase-5514	45	13	in	in	ADP
ajase-5514	45	14	modelling	model	VERB
ajase-5514	45	15	all	all	DET
ajase-5514	45	16	observed	observed	ADJ
ajase-5514	45	17	salient	salient	NOUN
ajase-5514	45	18	features	feature	NOUN
ajase-5514	45	19	of	of	ADP
ajase-5514	45	20	financial	financial	ADJ
ajase-5514	45	21	markets	market	NOUN
ajase-5514	45	22	’	'	PUNCT
ajase-5514	45	23	returns	return	NOUN
ajase-5514	45	24	.	.	PUNCT
ajase-5514	46	1	ml	ml	NOUN
ajase-5514	46	2	methods	method	NOUN
ajase-5514	46	3	have	have	AUX
ajase-5514	46	4	been	be	AUX
ajase-5514	46	5	used	use	VERB
ajase-5514	46	6	in	in	ADP
ajase-5514	46	7	many	many	ADJ
ajase-5514	46	8	other	other	ADJ
ajase-5514	46	9	fields	field	NOUN
ajase-5514	46	10	for	for	ADP
ajase-5514	46	11	many	many	ADJ
ajase-5514	46	12	years	year	NOUN
ajase-5514	46	13	.	.	PUNCT
ajase-5514	47	1	for	for	ADP
ajase-5514	47	2	example	example	NOUN
ajase-5514	47	3	,	,	PUNCT
ajase-5514	47	4	chen	chen	PROPN
ajase-5514	47	5	et	et	PROPN
ajase-5514	47	6	al	al	PROPN
ajase-5514	47	7	.	.	PROPN
ajase-5514	48	1	(	(	PUNCT
ajase-5514	48	2	2019	2019	NUM
ajase-5514	48	3	)	)	PUNCT
ajase-5514	48	4	exploit	exploit	VERB
ajase-5514	48	5	ml	ml	NOUN
ajase-5514	48	6	method	method	NOUN
ajase-5514	48	7	in	in	ADP
ajase-5514	48	8	the	the	DET
ajase-5514	48	9	estimation	estimation	NOUN
ajase-5514	48	10	of	of	ADP
ajase-5514	48	11	stochastic	stochastic	ADJ
ajase-5514	48	12	discount	discount	NOUN
ajase-5514	48	13	factor	factor	NOUN
ajase-5514	48	14	and	and	CCONJ
ajase-5514	48	15	gu	gu	NOUN
ajase-5514	48	16	et	et	PROPN
ajase-5514	48	17	al	al	PROPN
ajase-5514	48	18	.	.	PROPN
ajase-5514	49	1	(	(	PUNCT
ajase-5514	49	2	2020	2020	NUM
ajase-5514	49	3	)	)	PUNCT
ajase-5514	49	4	showed	show	VERB
ajase-5514	49	5	superior	superior	ADJ
ajase-5514	49	6	performance	performance	NOUN
ajase-5514	49	7	of	of	ADP
ajase-5514	49	8	ml	ml	NOUN
ajase-5514	49	9	models	model	NOUN
ajase-5514	49	10	for	for	ADP
ajase-5514	49	11	empirical	empirical	ADJ
ajase-5514	49	12	asset	asset	NOUN
ajase-5514	49	13	pricing	pricing	NOUN
ajase-5514	49	14	.	.	PUNCT
ajase-5514	50	1	also	also	ADV
ajase-5514	50	2	,	,	PUNCT
ajase-5514	50	3	is	be	AUX
ajase-5514	50	4	christensen	christensen	PROPN
ajase-5514	50	5	et	et	PROPN
ajase-5514	50	6	al	al	PROPN
ajase-5514	50	7	.	.	PROPN
ajase-5514	51	1	(	(	PUNCT
ajase-5514	51	2	2023	2023	NUM
ajase-5514	51	3	)	)	PUNCT
ajase-5514	51	4	employed	employ	VERB
ajase-5514	51	5	ml	ml	NOUN
ajase-5514	51	6	in	in	ADP
ajase-5514	51	7	returns	return	NOUN
ajase-5514	51	8	forecasting	forecasting	NOUN
ajase-5514	51	9	of	of	ADP
ajase-5514	51	10	index	index	NOUN
ajase-5514	51	11	stocks	stock	NOUN
ajase-5514	51	12	.	.	PUNCT
ajase-5514	52	1	similarly	similarly	ADV
ajase-5514	52	2	,	,	PUNCT
ajase-5514	52	3	nelson	nelson	PROPN
ajase-5514	52	4	et	et	PROPN
ajase-5514	52	5	al	al	PROPN
ajase-5514	52	6	.	.	PROPN
ajase-5514	53	1	(	(	PUNCT
ajase-5514	53	2	2017	2017	NUM
ajase-5514	53	3	)	)	PUNCT
ajase-5514	53	4	,	,	PUNCT
ajase-5514	53	5	shah	shah	PROPN
ajase-5514	53	6	et	et	PROPN
ajase-5514	53	7	al	al	PROPN
ajase-5514	53	8	.	.	PROPN
ajase-5514	54	1	(	(	PUNCT
ajase-5514	54	2	2018	2018	NUM
ajase-5514	54	3	)	)	PUNCT
ajase-5514	54	4	,	,	PUNCT
ajase-5514	54	5	yao	yao	PROPN
ajase-5514	54	6	et	et	PROPN
ajase-5514	54	7	al	al	PROPN
ajase-5514	54	8	.	.	PROPN
ajase-5514	54	9	(	(	PUNCT
ajase-5514	54	10	2018	2018	NUM
ajase-5514	54	11	)	)	PUNCT
ajase-5514	54	12	,	,	PUNCT
ajase-5514	54	13	and	and	CCONJ
ajase-5514	54	14	sunny	sunny	ADJ
ajase-5514	54	15	et	et	VERB
ajase-5514	54	16	al	al	PROPN
ajase-5514	54	17	.	.	PROPN
ajase-5514	54	18	(	(	PUNCT
ajase-5514	54	19	2020	2020	NUM
ajase-5514	54	20	)	)	PUNCT
ajase-5514	54	21	studied	study	VERB
ajase-5514	54	22	stock	stock	NOUN
ajase-5514	54	23	market	market	NOUN
ajase-5514	54	24	returns	return	NOUN
ajase-5514	54	25	based	base	VERB
ajase-5514	54	26	on	on	ADP
ajase-5514	54	27	the	the	DET
ajase-5514	54	28	machine	machine	NOUN
ajase-5514	54	29	learning	learn	VERB
ajase-5514	54	30	model	model	NOUN
ajase-5514	54	31	.	.	PUNCT
ajase-5514	55	1	ml	ml	PROPN
ajase-5514	55	2	models	model	NOUN
ajase-5514	55	3	especially	especially	ADV
ajase-5514	55	4	the	the	DET
ajase-5514	55	5	long	long	ADV
ajase-5514	55	6	-	-	PUNCT
ajase-5514	55	7	short	short	ADJ
ajase-5514	55	8	term	term	NOUN
ajase-5514	55	9	memory	memory	NOUN
ajase-5514	55	10	(	(	PUNCT
ajase-5514	55	11	lstm	lstm	NOUN
ajase-5514	55	12	)	)	PUNCT
ajase-5514	55	13	and	and	CCONJ
ajase-5514	55	14	recurrent	recurrent	ADJ
ajase-5514	55	15	neural	neural	ADJ
ajase-5514	55	16	network	network	NOUN
ajase-5514	55	17	(	(	PUNCT
ajase-5514	55	18	rnn	rnn	PROPN
ajase-5514	55	19	)	)	PUNCT
ajase-5514	55	20	types	type	NOUN
ajase-5514	55	21	have	have	AUX
ajase-5514	55	22	been	be	AUX
ajase-5514	55	23	famous	famous	ADJ
ajase-5514	55	24	for	for	ADP
ajase-5514	55	25	most	most	ADJ
ajase-5514	55	26	time	time	NOUN
ajase-5514	55	27	series	series	PROPN
ajase-5514	55	28	data	data	PROPN
ajase-5514	55	29	.	.	PUNCT
ajase-5514	56	1	the	the	DET
ajase-5514	56	2	machine	machine	NOUN
ajase-5514	56	3	learning	learning	NOUN
ajase-5514	56	4	models	model	NOUN
ajase-5514	56	5	are	be	AUX
ajase-5514	56	6	well	well	ADV
ajase-5514	56	7	-	-	PUNCT
ajase-5514	56	8	known	know	VERB
ajase-5514	56	9	for	for	ADP
ajase-5514	56	10	predicting	predict	VERB
ajase-5514	56	11	the	the	DET
ajase-5514	56	12	time	time	NOUN
ajase-5514	56	13	series	series	PROPN
ajase-5514	56	14	data	data	PROPN
ajase-5514	56	15	without	without	ADP
ajase-5514	56	16	considering	consider	VERB
ajase-5514	56	17	the	the	DET
ajase-5514	56	18	much	much	ADJ
ajase-5514	56	19	assumptions	assumption	NOUN
ajase-5514	56	20	of	of	ADP
ajase-5514	56	21	the	the	DET
ajase-5514	56	22	parameters	parameter	NOUN
ajase-5514	56	23	.	.	PUNCT
ajase-5514	57	1	however	however	ADV
ajase-5514	57	2	,	,	PUNCT
ajase-5514	57	3	despite	despite	SCONJ
ajase-5514	57	4	both	both	DET
ajase-5514	57	5	approaches	approach	VERB
ajase-5514	57	6	significant	significant	ADJ
ajase-5514	57	7	values	value	NOUN
ajase-5514	57	8	to	to	ADP
ajase-5514	57	9	returns	return	NOUN
ajase-5514	57	10	and	and	CCONJ
ajase-5514	57	11	regime	regime	NOUN
ajase-5514	57	12	forecasting	forecasting	NOUN
ajase-5514	57	13	,	,	PUNCT
ajase-5514	57	14	they	they	PRON
ajase-5514	57	15	both	both	PRON
ajase-5514	57	16	suffer	suffer	VERB
ajase-5514	57	17	from	from	ADP
ajase-5514	57	18	either	either	CCONJ
ajase-5514	57	19	a	a	DET
ajase-5514	57	20	severe	severe	ADJ
ajase-5514	57	21	modelling	modelling	NOUN
ajase-5514	57	22	misspecification	misspecification	NOUN
ajase-5514	57	23	or	or	CCONJ
ajase-5514	57	24	a	a	DET
ajase-5514	57	25	lack	lack	NOUN
ajase-5514	57	26	of	of	ADP
ajase-5514	57	27	effective	effective	ADJ
ajase-5514	57	28	identification	identification	NOUN
ajase-5514	57	29	of	of	ADP
ajase-5514	57	30	meaningful	meaningful	ADJ
ajase-5514	57	31	stochastic	stochastic	ADJ
ajase-5514	57	32	regimes	regime	NOUN
ajase-5514	57	33	especially	especially	ADV
ajase-5514	57	34	for	for	ADP
ajase-5514	57	35	small	small	ADJ
ajase-5514	57	36	sample	sample	NOUN
ajase-5514	57	37	sizes	size	NOUN
ajase-5514	57	38	.	.	PUNCT
ajase-5514	58	1	one	one	NUM
ajase-5514	58	2	way	way	NOUN
ajase-5514	58	3	to	to	PART
ajase-5514	58	4	handle	handle	VERB
ajase-5514	58	5	these	these	DET
ajase-5514	58	6	problems	problem	NOUN
ajase-5514	58	7	is	be	AUX
ajase-5514	58	8	the	the	DET
ajase-5514	58	9	switching	switch	VERB
ajase-5514	58	10	state	state	NOUN
ajase-5514	58	11	space	space	NOUN
ajase-5514	58	12	modelling	modelling	NOUN
ajase-5514	58	13	approach	approach	NOUN
ajase-5514	58	14	.	.	PUNCT
ajase-5514	59	1	thus	thus	ADV
ajase-5514	59	2	,	,	PUNCT
ajase-5514	59	3	there	there	PRON
ajase-5514	59	4	is	be	VERB
ajase-5514	59	5	a	a	DET
ajase-5514	59	6	need	need	NOUN
ajase-5514	59	7	for	for	ADP
ajase-5514	59	8	a	a	DET
ajase-5514	59	9	well	well	ADV
ajase-5514	59	10	-	-	PUNCT
ajase-5514	59	11	designed	design	VERB
ajase-5514	59	12	modelling	modelling	NOUN
ajase-5514	59	13	approach	approach	NOUN
ajase-5514	59	14	that	that	PRON
ajase-5514	59	15	allows	allow	VERB
ajase-5514	59	16	the	the	DET
ajase-5514	59	17	disturbance	disturbance	NOUN
ajase-5514	59	18	to	to	PART
ajase-5514	59	19	be	be	AUX
ajase-5514	59	20	realistically	realistically	ADV
ajase-5514	59	21	represented	represent	VERB
ajase-5514	59	22	,	,	PUNCT
ajase-5514	59	23	and	and	CCONJ
ajase-5514	59	24	at	at	ADP
ajase-5514	59	25	the	the	DET
ajase-5514	59	26	same	same	ADJ
ajase-5514	59	27	time	time	NOUN
ajase-5514	59	28	does	do	AUX
ajase-5514	59	29	not	not	PART
ajase-5514	59	30	lead	lead	VERB
ajase-5514	59	31	to	to	ADP
ajase-5514	59	32	over	over	ADP
ajase-5514	59	33	frequently	frequently	ADV
ajase-5514	59	34	switching	switch	VERB
ajase-5514	59	35	.	.	PUNCT
ajase-5514	60	1	given	give	VERB
ajase-5514	60	2	the	the	DET
ajase-5514	60	3	criticality	criticality	NOUN
ajase-5514	60	4	of	of	ADP
ajase-5514	60	5	such	such	ADJ
ajase-5514	60	6	regime	regime	NOUN
ajase-5514	60	7	identification	identification	NOUN
ajase-5514	60	8	,	,	PUNCT
ajase-5514	60	9	not	not	PART
ajase-5514	60	10	only	only	ADV
ajase-5514	60	11	for	for	ADP
ajase-5514	60	12	its	its	PRON
ajase-5514	60	13	economic	economic	ADJ
ajase-5514	60	14	implications	implication	NOUN
ajase-5514	60	15	but	but	CCONJ
ajase-5514	60	16	also	also	ADV
ajase-5514	60	17	for	for	ADP
ajase-5514	60	18	the	the	DET
ajase-5514	60	19	profound	profound	ADJ
ajase-5514	60	20	comprehension	comprehension	NOUN
ajase-5514	60	21	of	of	ADP
ajase-5514	60	22	underlying	underlie	VERB
ajase-5514	60	23	phenomena	phenomenon	NOUN
ajase-5514	60	24	,	,	PUNCT
ajase-5514	60	25	this	this	DET
ajase-5514	60	26	study	study	NOUN
ajase-5514	60	27	aims	aim	VERB
ajase-5514	60	28	to	to	PART
ajase-5514	60	29	propose	propose	VERB
ajase-5514	60	30	new	new	ADJ
ajase-5514	60	31	neural	neural	ADJ
ajase-5514	60	32	network	network	NOUN
ajase-5514	60	33	state	state	NOUN
ajase-5514	60	34	switching	switching	NOUN
ajase-5514	60	35	models	model	NOUN
ajase-5514	60	36	that	that	PRON
ajase-5514	60	37	will	will	AUX
ajase-5514	60	38	improve	improve	VERB
ajase-5514	60	39	the	the	DET
ajase-5514	60	40	regime	regime	NOUN
ajase-5514	60	41	predictive	predictive	ADJ
ajase-5514	60	42	performance	performance	NOUN
ajase-5514	60	43	of	of	ADP
ajase-5514	60	44	nonlinear	nonlinear	ADJ
ajase-5514	60	45	time	time	NOUN
ajase-5514	60	46	series	series	PROPN
ajase-5514	60	47	returns	return	NOUN
ajase-5514	60	48	,	,	PUNCT
ajase-5514	60	49	in	in	ADP
ajase-5514	60	50	small	small	ADJ
ajase-5514	60	51	sample	sample	NOUN
ajase-5514	60	52	size	size	NOUN
ajase-5514	60	53	contexts	contexts	NOUN
ajase-5514	60	54	.	.	PUNCT
ajase-5514	61	1	the	the	DET
ajase-5514	61	2	specific	specific	ADJ
ajase-5514	61	3	objectives	objective	NOUN
ajase-5514	61	4	include	include	VERB
ajase-5514	61	5	to	to	PART
ajase-5514	61	6	:	:	PUNCT
ajase-5514	61	7	ⅰ	ⅰ	X
ajase-5514	61	8	develop	develop	VERB
ajase-5514	61	9	novel	novel	ADJ
ajase-5514	61	10	neural	neural	ADJ
ajase-5514	61	11	network	network	NOUN
ajase-5514	61	12	state	state	NOUN
ajase-5514	61	13	switching	switching	NOUN
ajase-5514	61	14	models	model	NOUN
ajase-5514	61	15	(	(	PUNCT
ajase-5514	61	16	using	use	VERB
ajase-5514	61	17	markov	markov	NOUN
ajase-5514	61	18	algorithms	algorithm	NOUN
ajase-5514	61	19	)	)	PUNCT
ajase-5514	61	20	for	for	ADP
ajase-5514	61	21	time	time	NOUN
ajase-5514	61	22	series	series	PROPN
ajase-5514	61	23	returns	return	NOUN
ajase-5514	61	24	predicting	predict	VERB
ajase-5514	61	25	in	in	ADP
ajase-5514	61	26	distinct	distinct	ADJ
ajase-5514	61	27	regimes	regime	NOUN
ajase-5514	61	28	;	;	PUNCT
ajase-5514	61	29	ⅰⅰ	ⅰⅰ	NOUN
ajase-5514	61	30	examine	examine	VERB
ajase-5514	61	31	the	the	DET
ajase-5514	61	32	estimations	estimation	NOUN
ajase-5514	61	33	of	of	ADP
ajase-5514	61	34	the	the	DET
ajase-5514	61	35	novel	novel	ADJ
ajase-5514	61	36	neural	neural	ADJ
ajase-5514	61	37	network	network	NOUN
ajase-5514	61	38	state	state	NOUN
ajase-5514	61	39	switching	switching	NOUN
ajase-5514	61	40	models	model	NOUN
ajase-5514	61	41	towards	towards	ADP
ajase-5514	61	42	modelling	modelling	NOUN
ajase-5514	61	43	time	time	NOUN
ajase-5514	61	44	series	series	NOUN
ajase-5514	61	45	market	market	NOUN
ajase-5514	61	46	returns	return	NOUN
ajase-5514	61	47	;	;	PUNCT
ajase-5514	61	48	ⅰⅰⅰ	ⅰⅰⅰ	NOUN
ajase-5514	61	49	compare	compare	VERB
ajase-5514	61	50	the	the	DET
ajase-5514	61	51	predicting	predicting	NOUN
ajase-5514	61	52	performances	performance	NOUN
ajase-5514	61	53	of	of	ADP
ajase-5514	61	54	the	the	DET
ajase-5514	61	55	novel	novel	ADJ
ajase-5514	61	56	neural	neural	ADJ
ajase-5514	61	57	network	network	NOUN
ajase-5514	61	58	state	state	NOUN
ajase-5514	61	59	switching	switching	NOUN
ajase-5514	61	60	models	model	NOUN
ajase-5514	61	61	using	use	VERB
ajase-5514	61	62	prediction	prediction	NOUN
ajase-5514	61	63	accuracy	accuracy	NOUN
ajase-5514	61	64	measures	measure	NOUN
ajase-5514	61	65	under	under	ADP
ajase-5514	61	66	a	a	DET
ajase-5514	61	67	monte	monte	PROPN
ajase-5514	61	68	carlo	carlo	PROPN
ajase-5514	61	69	simulation	simulation	PROPN
ajase-5514	61	70	study	study	PROPN
ajase-5514	61	71	.	.	PUNCT
ajase-5514	62	1	literature	literature	NOUN
ajase-5514	62	2	review	review	VERB
ajase-5514	62	3	regime	regime	NOUN
ajase-5514	62	4	-	-	PUNCT
ajase-5514	62	5	switching	switch	VERB
ajase-5514	62	6	model	model	NOUN
ajase-5514	62	7	is	be	AUX
ajase-5514	62	8	an	an	DET
ajase-5514	62	9	unusual	unusual	ADJ
ajase-5514	62	10	case	case	NOUN
ajase-5514	62	11	of	of	ADP
ajase-5514	62	12	a	a	DET
ajase-5514	62	13	more	more	ADV
ajase-5514	62	14	general	general	ADJ
ajase-5514	62	15	framework	framework	NOUN
ajase-5514	62	16	called	call	VERB
ajase-5514	62	17	hidden	hide	VERB
ajase-5514	62	18	markov	markov	NOUN
ajase-5514	62	19	model	model	NOUN
ajase-5514	62	20	(	(	PUNCT
ajase-5514	62	21	zucchini	zucchini	PROPN
ajase-5514	62	22	&	&	CCONJ
ajase-5514	62	23	macdonald	macdonald	PROPN
ajase-5514	62	24	,	,	PUNCT
ajase-5514	62	25	2009	2009	NUM
ajase-5514	62	26	)	)	PUNCT
ajase-5514	62	27	.	.	PUNCT
ajase-5514	63	1	regime	regime	NOUN
ajase-5514	63	2	-	-	PUNCT
ajase-5514	63	3	switching	switch	VERB
ajase-5514	63	4	models	model	NOUN
ajase-5514	63	5	were	be	AUX
ajase-5514	63	6	early	early	ADV
ajase-5514	63	7	presented	present	VERB
ajase-5514	63	8	to	to	ADP
ajase-5514	63	9	econometric	econometric	VERB
ajase-5514	63	10	literature	literature	NOUN
ajase-5514	63	11	by	by	ADP
ajase-5514	63	12	hamilton	hamilton	PROPN
ajase-5514	63	13	(	(	PUNCT
ajase-5514	63	14	1989	1989	NUM
ajase-5514	63	15	)	)	PUNCT
ajase-5514	63	16	and	and	CCONJ
ajase-5514	63	17	have	have	AUX
ajase-5514	63	18	become	become	VERB
ajase-5514	63	19	very	very	ADV
ajase-5514	63	20	prevalent	prevalent	ADJ
ajase-5514	63	21	particularly	particularly	ADV
ajase-5514	63	22	in	in	ADP
ajase-5514	63	23	applied	apply	VERB
ajase-5514	63	24	works	work	NOUN
ajase-5514	63	25	.	.	PUNCT
ajase-5514	64	1	applications	application	NOUN
ajase-5514	64	2	of	of	ADP
ajase-5514	64	3	regime	regime	NOUN
ajase-5514	64	4	switching	switch	VERB
ajase-5514	64	5	models	model	NOUN
ajase-5514	64	6	range	range	VERB
ajase-5514	64	7	over	over	ADP
ajase-5514	64	8	a	a	DET
ajase-5514	64	9	broad	broad	ADJ
ajase-5514	64	10	range	range	NOUN
ajase-5514	64	11	of	of	ADP
ajase-5514	64	12	research	research	NOUN
ajase-5514	64	13	areas	area	NOUN
ajase-5514	64	14	,	,	PUNCT
ajase-5514	64	15	such	such	ADJ
ajase-5514	64	16	as	as	ADP
ajase-5514	64	17	modeling	model	VERB
ajase-5514	64	18	shifts	shift	NOUN
ajase-5514	64	19	in	in	ADP
ajase-5514	64	20	inflation	inflation	NOUN
ajase-5514	64	21	,	,	PUNCT
ajase-5514	64	22	exchange	exchange	NOUN
ajase-5514	64	23	rates	rate	NOUN
ajase-5514	64	24	and	and	CCONJ
ajase-5514	64	25	interest	interest	NOUN
ajase-5514	64	26	rates	rate	NOUN
ajase-5514	64	27	(	(	PUNCT
ajase-5514	64	28	piger	piger	NOUN
ajase-5514	64	29	2013	2013	NUM
ajase-5514	64	30	)	)	PUNCT
ajase-5514	64	31	,	,	PUNCT
ajase-5514	64	32	altug	altug	NOUN
ajase-5514	64	33	and	and	CCONJ
ajase-5514	64	34	bildirici	bildirici	NOUN
ajase-5514	64	35	(	(	PUNCT
ajase-5514	64	36	2010	2010	NUM
ajase-5514	64	37	)	)	PUNCT
ajase-5514	64	38	,	,	PUNCT
ajase-5514	64	39	changes	change	NOUN
ajase-5514	64	40	in	in	ADP
ajase-5514	64	41	government	government	NOUN
ajase-5514	64	42	policy	policy	NOUN
ajase-5514	64	43	(	(	PUNCT
ajase-5514	64	44	valente	valente	PROPN
ajase-5514	64	45	,	,	PUNCT
ajase-5514	64	46	2003	2003	NUM
ajase-5514	64	47	;	;	PUNCT
ajase-5514	64	48	owyang	owyang	PROPN
ajase-5514	64	49	&	&	CCONJ
ajase-5514	64	50	ramey	ramey	PROPN
ajase-5514	64	51	,	,	PUNCT
ajase-5514	64	52	2004	2004	NUM
ajase-5514	64	53	;	;	PUNCT
ajase-5514	64	54	sims	sim	NOUN
ajase-5514	64	55	&	&	CCONJ
ajase-5514	64	56	zha	zha	PROPN
ajase-5514	64	57	2006	2006	NUM
ajase-5514	64	58	)	)	PUNCT
ajase-5514	64	59	and	and	CCONJ
ajase-5514	64	60	shifts	shift	NOUN
ajase-5514	64	61	in	in	ADP
ajase-5514	64	62	exchange	exchange	NOUN
ajase-5514	64	63	rate	rate	NOUN
ajase-5514	64	64	(	(	PUNCT
ajase-5514	64	65	bekaert	bekaert	NOUN
ajase-5514	64	66	&	&	CCONJ
ajase-5514	64	67	hodrick	hodrick	PROPN
ajase-5514	64	68	,	,	PUNCT
ajase-5514	64	69	1992	1992	NUM
ajase-5514	64	70	;	;	PUNCT
ajase-5514	64	71	bollen	bollen	PROPN
ajase-5514	64	72	et	et	PROPN
ajase-5514	64	73	al	al	PROPN
ajase-5514	64	74	.	.	PROPN
ajase-5514	64	75	,	,	PUNCT
ajase-5514	64	76	2000	2000	NUM
ajase-5514	64	77	)	)	PUNCT
ajase-5514	64	78	.	.	PUNCT
ajase-5514	65	1	the	the	DET
ajase-5514	65	2	regime	regime	NOUN
ajase-5514	65	3	-	-	PUNCT
ajase-5514	65	4	switching	switch	VERB
ajase-5514	65	5	modelling	modelling	NOUN
ajase-5514	65	6	approach	approach	NOUN
ajase-5514	65	7	provides	provide	VERB
ajase-5514	65	8	a	a	DET
ajase-5514	65	9	completely	completely	ADV
ajase-5514	65	10	new	new	ADJ
ajase-5514	65	11	approach	approach	NOUN
ajase-5514	65	12	to	to	ADP
ajase-5514	65	13	the	the	DET
ajase-5514	65	14	modeling	modeling	NOUN
ajase-5514	65	15	of	of	ADP
ajase-5514	65	16	financial	financial	ADJ
ajase-5514	65	17	returns	return	NOUN
ajase-5514	65	18	which	which	PRON
ajase-5514	65	19	it	it	PRON
ajase-5514	65	20	conceives	conceive	VERB
ajase-5514	65	21	as	as	ADP
ajase-5514	65	22	a	a	DET
ajase-5514	65	23	multiplicative	multiplicative	ADJ
ajase-5514	65	24	,	,	PUNCT
ajase-5514	65	25	hierarchically	hierarchically	ADV
ajase-5514	65	26	structured	structure	VERB
ajase-5514	65	27	process	process	NOUN
ajase-5514	65	28	(	(	PUNCT
ajase-5514	65	29	frommel	frommel	NOUN
ajase-5514	65	30	et	et	PROPN
ajase-5514	65	31	al	al	PROPN
ajase-5514	65	32	.	.	PROPN
ajase-5514	65	33	,	,	PUNCT
ajase-5514	65	34	2005	2005	NUM
ajase-5514	65	35	)	)	PUNCT
ajase-5514	65	36	.	.	PUNCT
ajase-5514	66	1	over	over	ADP
ajase-5514	66	2	the	the	DET
ajase-5514	66	3	years	year	NOUN
ajase-5514	66	4	,	,	PUNCT
ajase-5514	66	5	there	there	PRON
ajase-5514	66	6	have	have	AUX
ajase-5514	66	7	been	be	AUX
ajase-5514	66	8	several	several	ADJ
ajase-5514	66	9	extensions	extension	NOUN
ajase-5514	66	10	to	to	ADP
ajase-5514	66	11	the	the	DET
ajase-5514	66	12	state	state	NOUN
ajase-5514	66	13	switching	switch	VERB
ajase-5514	66	14	modelling	modelling	NOUN
ajase-5514	66	15	by	by	ADP
ajase-5514	66	16	introducing	introduce	VERB
ajase-5514	66	17	nonlinear	nonlinear	ADJ
ajase-5514	66	18	structures	structure	NOUN
ajase-5514	66	19	such	such	ADJ
ajase-5514	66	20	include	include	VERB
ajase-5514	66	21	chow	chow	PROPN
ajase-5514	66	22	and	and	CCONJ
ajase-5514	66	23	zhang	zhang	PROPN
ajase-5514	66	24	(	(	PUNCT
ajase-5514	66	25	2013	2013	NUM
ajase-5514	66	26	)	)	PUNCT
ajase-5514	66	27	,	,	PUNCT
ajase-5514	66	28	johnson	johnson	PROPN
ajase-5514	66	29	et	et	PROPN
ajase-5514	66	30	al	al	PROPN
ajase-5514	66	31	.	.	PROPN
ajase-5514	67	1	(	(	PUNCT
ajase-5514	67	2	2024	2024	NUM
ajase-5514	67	3	)	)	PUNCT
ajase-5514	67	4	,	,	PUNCT
ajase-5514	67	5	dong	dong	PROPN
ajase-5514	67	6	et	et	PROPN
ajase-5514	67	7	al	al	PROPN
ajase-5514	67	8	.	.	PROPN
ajase-5514	67	9	(	(	PUNCT
ajase-5514	67	10	2020	2020	NUM
ajase-5514	67	11	)	)	PUNCT
ajase-5514	67	12	,	,	PUNCT
ajase-5514	67	13	and	and	CCONJ
ajase-5514	67	14	farnoosh	farnoosh	ADV
ajase-5514	67	15	et	et	PROPN
ajase-5514	67	16	al	al	PROPN
ajase-5514	67	17	.	.	PROPN
ajase-5514	68	1	(	(	PUNCT
ajase-5514	68	2	2021	2021	NUM
ajase-5514	68	3	)	)	PUNCT
ajase-5514	68	4	.	.	PUNCT
ajase-5514	69	1	the	the	DET
ajase-5514	69	2	regime	regime	NOUN
ajase-5514	69	3	switching	switch	VERB
ajase-5514	69	4	state	state	NOUN
ajase-5514	69	5	space	space	NOUN
ajase-5514	69	6	model	model	NOUN
ajase-5514	69	7	was	be	AUX
ajase-5514	69	8	proposed	propose	VERB
ajase-5514	69	9	by	by	ADP
ajase-5514	69	10	chow	chow	PROPN
ajase-5514	69	11	and	and	CCONJ
ajase-5514	69	12	zhang	zhang	PROPN
ajase-5514	69	13	(	(	PUNCT
ajase-5514	69	14	2013	2013	NUM
ajase-5514	69	15	)	)	PUNCT
ajase-5514	69	16	,	,	PUNCT
ajase-5514	69	17	the	the	DET
ajase-5514	69	18	model	model	NOUN
ajase-5514	69	19	adopts	adopt	VERB
ajase-5514	69	20	a	a	DET
ajase-5514	69	21	pre	pre	ADJ
ajase-5514	69	22	-	-	ADJ
ajase-5514	69	23	specified	specified	ADJ
ajase-5514	69	24	nonlinear	nonlinear	ADJ
ajase-5514	69	25	transition	transition	NOUN
ajase-5514	69	26	function	function	NOUN
ajase-5514	69	27	.	.	PUNCT
ajase-5514	70	1	the	the	DET
ajase-5514	70	2	johnson	johnson	PROPN
ajase-5514	70	3	et	et	PROPN
ajase-5514	70	4	al	al	PROPN
ajase-5514	70	5	.	.	PROPN
ajase-5514	71	1	(	(	PUNCT
ajase-5514	71	2	2024	2024	NUM
ajase-5514	71	3	)	)	PUNCT
ajase-5514	71	4	model	model	NOUN
ajase-5514	71	5	called	call	VERB
ajase-5514	71	6	svae	svae	NOUN
ajase-5514	71	7	,	,	PUNCT
ajase-5514	71	8	parameterizes	parameterize	VERB
ajase-5514	71	9	the	the	DET
ajase-5514	71	10	emission	emission	NOUN
ajase-5514	71	11	function	function	NOUN
ajase-5514	71	12	by	by	ADP
ajase-5514	71	13	neural	neural	ADJ
ajase-5514	71	14	networks	network	NOUN
ajase-5514	71	15	,	,	PUNCT
ajase-5514	71	16	while	while	SCONJ
ajase-5514	71	17	the	the	DET
ajase-5514	71	18	transition	transition	NOUN
ajase-5514	71	19	function	function	NOUN
ajase-5514	71	20	remains	remain	VERB
ajase-5514	71	21	linear	linear	ADJ
ajase-5514	71	22	.	.	PUNCT
ajase-5514	72	1	the	the	DET
ajase-5514	72	2	dong	dong	PROPN
ajase-5514	72	3	et	et	PROPN
ajase-5514	72	4	al	al	PROPN
ajase-5514	72	5	.	.	PROPN
ajase-5514	72	6	(	(	PUNCT
ajase-5514	72	7	2020	2020	NUM
ajase-5514	72	8	)	)	PUNCT
ajase-5514	72	9	switching	switch	VERB
ajase-5514	72	10	non	non	ADJ
ajase-5514	72	11	-	-	ADJ
ajase-5514	72	12	linear	linear	ADJ
ajase-5514	72	13	dynamical	dynamical	ADJ
ajase-5514	72	14	systems	system	NOUN
ajase-5514	72	15	(	(	PUNCT
ajase-5514	72	16	snlds	snld	NOUN
ajase-5514	72	17	)	)	PUNCT
ajase-5514	72	18	pa	pa	PROPN
ajase-5514	72	19	ge	ge	PROPN
ajase-5514	72	20	96	96	NUM
ajase-5514	72	21	https://journals.e-palli.com/home/index.php/ajase	https://journals.e-palli.com/home/index.php/ajase	PROPN
ajase-5514	72	22	am	be	AUX
ajase-5514	72	23	.	.	PUNCT
ajase-5514	73	1	j.	j.	PROPN
ajase-5514	73	2	appl	appl	PROPN
ajase-5514	73	3	.	.	PROPN
ajase-5514	74	1	stat	stat	PROPN
ajase-5514	74	2	.	.	PUNCT
ajase-5514	75	1	econ	econ	PROPN
ajase-5514	75	2	.	.	PUNCT
ajase-5514	76	1	4(1	4(1	X
ajase-5514	76	2	)	)	PUNCT
ajase-5514	76	3	94	94	NUM
ajase-5514	76	4	-	-	SYM
ajase-5514	76	5	107	107	NUM
ajase-5514	76	6	,	,	PUNCT
ajase-5514	76	7	2025	2025	NUM
ajase-5514	76	8	extension	extension	NOUN
ajase-5514	76	9	model	model	NOUN
ajase-5514	76	10	parameterizes	parameterize	VERB
ajase-5514	76	11	both	both	CCONJ
ajase-5514	76	12	the	the	DET
ajase-5514	76	13	emission	emission	NOUN
ajase-5514	76	14	and	and	CCONJ
ajase-5514	76	15	transition	transition	NOUN
ajase-5514	76	16	functions	function	NOUN
ajase-5514	76	17	with	with	ADP
ajase-5514	76	18	nonlinear	nonlinear	ADJ
ajase-5514	76	19	neural	neural	ADJ
ajase-5514	76	20	networks	network	NOUN
ajase-5514	76	21	.	.	PUNCT
ajase-5514	77	1	the	the	DET
ajase-5514	77	2	deep	deep	ADJ
ajase-5514	77	3	switching	switch	VERB
ajase-5514	77	4	autoregressive	autoregressive	ADJ
ajase-5514	77	5	factorization	factorization	NOUN
ajase-5514	77	6	(	(	PUNCT
ajase-5514	77	7	dsarf	dsarf	PROPN
ajase-5514	77	8	)	)	PUNCT
ajase-5514	77	9	proposed	propose	VERB
ajase-5514	77	10	by	by	ADP
ajase-5514	77	11	farnoosh	farnoosh	PROPN
ajase-5514	77	12	et	et	PROPN
ajase-5514	77	13	al	al	PROPN
ajase-5514	77	14	.	.	PROPN
ajase-5514	77	15	(	(	PUNCT
ajase-5514	77	16	2021	2021	NUM
ajase-5514	77	17	)	)	PUNCT
ajase-5514	77	18	,	,	PUNCT
ajase-5514	77	19	approximates	approximate	VERB
ajase-5514	77	20	highdimensional	highdimensional	ADJ
ajase-5514	77	21	time	time	NOUN
ajase-5514	77	22	series	series	NOUN
ajase-5514	77	23	with	with	ADP
ajase-5514	77	24	a	a	DET
ajase-5514	77	25	multiplication	multiplication	NOUN
ajase-5514	77	26	of	of	ADP
ajase-5514	77	27	latent	latent	NOUN
ajase-5514	77	28	factors	factor	NOUN
ajase-5514	77	29	and	and	CCONJ
ajase-5514	77	30	latent	latent	NOUN
ajase-5514	77	31	weights	weight	NOUN
ajase-5514	77	32	,	,	PUNCT
ajase-5514	77	33	where	where	SCONJ
ajase-5514	77	34	the	the	DET
ajase-5514	77	35	latent	latent	NOUN
ajase-5514	77	36	weights	weight	NOUN
ajase-5514	77	37	are	be	AUX
ajase-5514	77	38	modeled	model	VERB
ajase-5514	77	39	by	by	ADP
ajase-5514	77	40	a	a	DET
ajase-5514	77	41	nonlinear	nonlinear	ADJ
ajase-5514	77	42	autoregressive	autoregressive	ADJ
ajase-5514	77	43	model	model	NOUN
ajase-5514	77	44	,	,	PUNCT
ajase-5514	77	45	switched	switch	VERB
ajase-5514	77	46	by	by	ADP
ajase-5514	77	47	a	a	DET
ajase-5514	77	48	markov	markov	NOUN
ajase-5514	77	49	chain	chain	NOUN
ajase-5514	77	50	of	of	ADP
ajase-5514	77	51	discrete	discrete	ADJ
ajase-5514	77	52	latent	latent	NOUN
ajase-5514	77	53	variables	variable	NOUN
ajase-5514	77	54	.	.	PUNCT
ajase-5514	78	1	most	most	ADJ
ajase-5514	78	2	of	of	ADP
ajase-5514	78	3	the	the	DET
ajase-5514	78	4	above	above	ADV
ajase-5514	78	5	-	-	PUNCT
ajase-5514	78	6	mentioned	mention	VERB
ajase-5514	78	7	studies	study	NOUN
ajase-5514	78	8	assumed	assume	VERB
ajase-5514	78	9	that	that	SCONJ
ajase-5514	78	10	the	the	DET
ajase-5514	78	11	discrete	discrete	ADJ
ajase-5514	78	12	latent	latent	NOUN
ajase-5514	78	13	variables	variable	NOUN
ajase-5514	78	14	only	only	ADV
ajase-5514	78	15	influence	influence	VERB
ajase-5514	78	16	the	the	DET
ajase-5514	78	17	transition	transition	NOUN
ajase-5514	78	18	of	of	ADP
ajase-5514	78	19	state	state	PROPN
ajase-5514	78	20	zt	zt	PROPN
ajase-5514	78	21	.	.	PUNCT
ajase-5514	79	1	the	the	DET
ajase-5514	79	2	discrete	discrete	ADJ
ajase-5514	79	3	switching	switching	NOUN
ajase-5514	79	4	variables	variable	NOUN
ajase-5514	79	5	in	in	ADP
ajase-5514	79	6	the	the	DET
ajase-5514	79	7	slds	sld	NOUN
ajase-5514	79	8	are	be	AUX
ajase-5514	79	9	assumed	assume	VERB
ajase-5514	79	10	to	to	PART
ajase-5514	79	11	be	be	AUX
ajase-5514	79	12	markov	markov	NOUN
ajase-5514	79	13	,	,	PUNCT
ajase-5514	79	14	i.e.	i.e.	X
ajase-5514	79	15	dt	dt	X
ajase-5514	79	16	depends	depend	VERB
ajase-5514	79	17	on	on	ADP
ajase-5514	79	18	dt-1	dt-1	NOUN
ajase-5514	79	19	only	only	ADV
ajase-5514	79	20	.	.	PUNCT
ajase-5514	80	1	the	the	DET
ajase-5514	80	2	recurrent	recurrent	PROPN
ajase-5514	80	3	slds	sld	NOUN
ajase-5514	80	4	(	(	PUNCT
ajase-5514	80	5	rslds	rsld	NOUN
ajase-5514	80	6	)	)	PUNCT
ajase-5514	80	7	proposed	propose	VERB
ajase-5514	80	8	in	in	ADP
ajase-5514	80	9	linderman	linderman	PROPN
ajase-5514	80	10	et	et	PROPN
ajase-5514	80	11	al	al	PROPN
ajase-5514	80	12	.	.	PROPN
ajase-5514	81	1	(	(	PUNCT
ajase-5514	81	2	2017	2017	NUM
ajase-5514	81	3	)	)	PUNCT
ajase-5514	81	4	and	and	CCONJ
ajase-5514	81	5	becker	becker	PROPN
ajase-5514	81	6	-	-	PUNCT
ajase-5514	81	7	ehmck	ehmck	PROPN
ajase-5514	81	8	et	et	PROPN
ajase-5514	81	9	al	al	PROPN
ajase-5514	81	10	.	.	PROPN
ajase-5514	82	1	(	(	PUNCT
ajase-5514	82	2	2020	2020	NUM
ajase-5514	82	3	)	)	PUNCT
ajase-5514	82	4	extends	extend	VERB
ajase-5514	82	5	the	the	DET
ajase-5514	82	6	open	open	ADJ
ajase-5514	82	7	-	-	PUNCT
ajase-5514	82	8	loop	loop	NOUN
ajase-5514	82	9	markov	markov	NOUN
ajase-5514	82	10	dynamics	dynamic	NOUN
ajase-5514	82	11	and	and	CCONJ
ajase-5514	82	12	makes	make	VERB
ajase-5514	82	13	dt	dt	PRON
ajase-5514	82	14	depending	depend	VERB
ajase-5514	82	15	on	on	ADP
ajase-5514	82	16	the	the	DET
ajase-5514	82	17	hidden	hidden	ADJ
ajase-5514	82	18	state	state	NOUN
ajase-5514	82	19	zt-1	zt-1	NOUN
ajase-5514	82	20	.	.	PUNCT
ajase-5514	83	1	in	in	ADP
ajase-5514	83	2	nassar	nassar	PROPN
ajase-5514	83	3	et	et	PROPN
ajase-5514	83	4	al	al	PROPN
ajase-5514	83	5	.	.	PROPN
ajase-5514	84	1	(	(	PUNCT
ajase-5514	84	2	2018	2018	NUM
ajase-5514	84	3	)	)	PUNCT
ajase-5514	84	4	,	,	PUNCT
ajase-5514	84	5	a	a	DET
ajase-5514	84	6	tree	tree	NOUN
ajase-5514	84	7	structure	structure	NOUN
ajase-5514	84	8	prior	prior	ADV
ajase-5514	84	9	is	be	AUX
ajase-5514	84	10	imposed	impose	VERB
ajase-5514	84	11	on	on	ADP
ajase-5514	84	12	the	the	DET
ajase-5514	84	13	switching	switch	VERB
ajase-5514	84	14	variables	variable	NOUN
ajase-5514	84	15	of	of	ADP
ajase-5514	84	16	rslds	rsld	NOUN
ajase-5514	84	17	,	,	PUNCT
ajase-5514	84	18	where	where	SCONJ
ajase-5514	84	19	the	the	DET
ajase-5514	84	20	dynamics	dynamic	NOUN
ajase-5514	84	21	of	of	ADP
ajase-5514	84	22	the	the	DET
ajase-5514	84	23	switching	switching	NOUN
ajase-5514	84	24	variables	variable	NOUN
ajase-5514	84	25	behave	behave	VERB
ajase-5514	84	26	similarly	similarly	ADV
ajase-5514	84	27	in	in	ADP
ajase-5514	84	28	the	the	DET
ajase-5514	84	29	same	same	ADJ
ajase-5514	84	30	sub	sub	NOUN
ajase-5514	84	31	-	-	NOUN
ajase-5514	84	32	trees	tree	NOUN
ajase-5514	84	33	.	.	PUNCT
ajase-5514	85	1	the	the	DET
ajase-5514	85	2	deep	deep	ADJ
ajase-5514	85	3	rao	rao	NOUN
ajase-5514	85	4	-	-	PUNCT
ajase-5514	85	5	blackwellised	blackwellise	VERB
ajase-5514	85	6	particle	particle	NOUN
ajase-5514	85	7	filter	filter	NOUN
ajase-5514	85	8	proposed	propose	VERB
ajase-5514	85	9	in	in	ADP
ajase-5514	85	10	kurle	kurle	PROPN
ajase-5514	85	11	et	et	PROPN
ajase-5514	85	12	al	al	PROPN
ajase-5514	85	13	.	.	PROPN
ajase-5514	85	14	(	(	PUNCT
ajase-5514	85	15	2020	2020	NUM
ajase-5514	85	16	)	)	PUNCT
ajase-5514	85	17	also	also	ADV
ajase-5514	85	18	allow	allow	VERB
ajase-5514	85	19	dt	dt	PART
ajase-5514	85	20	to	to	PART
ajase-5514	85	21	depend	depend	VERB
ajase-5514	85	22	on	on	ADP
ajase-5514	85	23	zt-1	zt-1	NOUN
ajase-5514	85	24	.	.	PUNCT
ajase-5514	86	1	the	the	DET
ajase-5514	86	2	snlds	snld	NOUN
ajase-5514	86	3	model	model	PROPN
ajase-5514	86	4	dong	dong	PROPN
ajase-5514	86	5	et	et	PROPN
ajase-5514	86	6	al	al	PROPN
ajase-5514	86	7	.	.	PROPN
ajase-5514	86	8	(	(	PUNCT
ajase-5514	86	9	2020	2020	NUM
ajase-5514	86	10	)	)	PUNCT
ajase-5514	86	11	extended	extend	VERB
ajase-5514	86	12	the	the	DET
ajase-5514	86	13	open	open	ADJ
ajase-5514	86	14	-	-	PUNCT
ajase-5514	86	15	loop	loop	NOUN
ajase-5514	86	16	markov	markov	NOUN
ajase-5514	86	17	dynamics	dynamic	NOUN
ajase-5514	86	18	by	by	ADP
ajase-5514	86	19	making	make	VERB
ajase-5514	86	20	dt	dt	NOUN
ajase-5514	86	21	depends	depend	VERB
ajase-5514	86	22	on	on	ADP
ajase-5514	86	23	last	last	ADJ
ajase-5514	86	24	observations	observation	NOUN
ajase-5514	86	25	.	.	PUNCT
ajase-5514	87	1	such	such	ADJ
ajase-5514	87	2	recurrent	recurrent	ADJ
ajase-5514	87	3	structures	structure	NOUN
ajase-5514	87	4	serve	serve	VERB
ajase-5514	87	5	as	as	ADP
ajase-5514	87	6	a	a	DET
ajase-5514	87	7	presence	presence	NOUN
ajase-5514	87	8	of	of	ADP
ajase-5514	87	9	disturbance	disturbance	NOUN
ajase-5514	87	10	to	to	ADP
ajase-5514	87	11	the	the	DET
ajase-5514	87	12	switching	switch	VERB
ajase-5514	87	13	dynamics	dynamic	NOUN
ajase-5514	87	14	.	.	PUNCT
ajase-5514	88	1	recently	recently	ADV
ajase-5514	88	2	,	,	PUNCT
ajase-5514	88	3	mari	mari	PROPN
ajase-5514	88	4	and	and	CCONJ
ajase-5514	88	5	mari	mari	PROPN
ajase-5514	88	6	(	(	PUNCT
ajase-5514	88	7	2023	2023	NUM
ajase-5514	88	8	)	)	PUNCT
ajase-5514	88	9	introduced	introduce	VERB
ajase-5514	88	10	a	a	DET
ajase-5514	88	11	regimeswitching	regimeswitching	NOUN
ajase-5514	88	12	model	model	NOUN
ajase-5514	88	13	to	to	PART
ajase-5514	88	14	analyze	analyze	VERB
ajase-5514	88	15	how	how	SCONJ
ajase-5514	88	16	market	market	NOUN
ajase-5514	88	17	prices	price	NOUN
ajase-5514	88	18	change	change	VERB
ajase-5514	88	19	over	over	ADP
ajase-5514	88	20	time	time	NOUN
ajase-5514	88	21	.	.	PUNCT
ajase-5514	89	1	their	their	PRON
ajase-5514	89	2	model	model	NOUN
ajase-5514	89	3	features	feature	VERB
ajase-5514	89	4	a	a	DET
ajase-5514	89	5	mean	mean	ADJ
ajase-5514	89	6	-	-	PUNCT
ajase-5514	89	7	reverting	revert	VERB
ajase-5514	89	8	diffusion	diffusion	NOUN
ajase-5514	89	9	process	process	NOUN
ajase-5514	89	10	for	for	ADP
ajase-5514	89	11	the	the	DET
ajase-5514	89	12	basic	basic	ADJ
ajase-5514	89	13	regime	regime	NOUN
ajase-5514	89	14	,	,	PUNCT
ajase-5514	89	15	while	while	SCONJ
ajase-5514	89	16	the	the	DET
ajase-5514	89	17	alternate	alternate	ADJ
ajase-5514	89	18	regime	regime	NOUN
ajase-5514	89	19	is	be	AUX
ajase-5514	89	20	driven	drive	VERB
ajase-5514	89	21	by	by	ADP
ajase-5514	89	22	predictions	prediction	NOUN
ajase-5514	89	23	from	from	ADP
ajase-5514	89	24	a	a	DET
ajase-5514	89	25	deep	deep	ADJ
ajase-5514	89	26	neural	neural	ADJ
ajase-5514	89	27	network	network	NOUN
ajase-5514	89	28	trained	train	VERB
ajase-5514	89	29	on	on	ADP
ajase-5514	89	30	market	market	NOUN
ajase-5514	89	31	log	log	NOUN
ajase-5514	89	32	-	-	PUNCT
ajase-5514	89	33	returns	return	NOUN
ajase-5514	89	34	.	.	PUNCT
ajase-5514	90	1	to	to	PART
ajase-5514	90	2	estimate	estimate	VERB
ajase-5514	90	3	the	the	DET
ajase-5514	90	4	model	model	NOUN
ajase-5514	90	5	using	use	VERB
ajase-5514	90	6	market	market	NOUN
ajase-5514	90	7	data	datum	NOUN
ajase-5514	90	8	,	,	PUNCT
ajase-5514	90	9	they	they	PRON
ajase-5514	90	10	proposed	propose	VERB
ajase-5514	90	11	a	a	DET
ajase-5514	90	12	statistical	statistical	ADJ
ajase-5514	90	13	method	method	NOUN
ajase-5514	90	14	based	base	VERB
ajase-5514	90	15	on	on	ADP
ajase-5514	90	16	simulated	simulated	ADJ
ajase-5514	90	17	moments	moment	NOUN
ajase-5514	90	18	.	.	PUNCT
ajase-5514	91	1	xiuqin	xiuqin	PROPN
ajase-5514	91	2	et	et	PROPN
ajase-5514	91	3	al	al	PROPN
ajase-5514	91	4	.	.	PROPN
ajase-5514	92	1	(	(	PUNCT
ajase-5514	92	2	2023	2023	NUM
ajase-5514	92	3	)	)	PUNCT
ajase-5514	92	4	developed	develop	VERB
ajase-5514	92	5	the	the	DET
ajase-5514	92	6	deep	deep	ADJ
ajase-5514	92	7	switching	switch	VERB
ajase-5514	92	8	state	state	NOUN
ajase-5514	92	9	space	space	NOUN
ajase-5514	92	10	model	model	NOUN
ajase-5514	92	11	(	(	PUNCT
ajase-5514	92	12	dsssm	dsssm	PROPN
ajase-5514	92	13	)	)	PUNCT
ajase-5514	92	14	,	,	PUNCT
ajase-5514	92	15	a	a	DET
ajase-5514	92	16	new	new	ADJ
ajase-5514	92	17	framework	framework	NOUN
ajase-5514	92	18	designed	design	VERB
ajase-5514	92	19	to	to	PART
ajase-5514	92	20	tackle	tackle	VERB
ajase-5514	92	21	challenges	challenge	NOUN
ajase-5514	92	22	in	in	ADP
ajase-5514	92	23	modeling	modeling	NOUN
ajase-5514	92	24	,	,	PUNCT
ajase-5514	92	25	inference	inference	NOUN
ajase-5514	92	26	,	,	PUNCT
ajase-5514	92	27	and	and	CCONJ
ajase-5514	92	28	understanding	understand	VERB
ajase-5514	92	29	stochastic	stochastic	ADJ
ajase-5514	92	30	processes	process	NOUN
ajase-5514	92	31	.	.	PUNCT
ajase-5514	93	1	the	the	DET
ajase-5514	93	2	dsssm	dsssm	PROPN
ajase-5514	93	3	aims	aim	VERB
ajase-5514	93	4	to	to	PART
ajase-5514	93	5	deliver	deliver	VERB
ajase-5514	93	6	accurate	accurate	ADJ
ajase-5514	93	7	forecasts	forecast	NOUN
ajase-5514	93	8	and	and	CCONJ
ajase-5514	93	9	detect	detect	VERB
ajase-5514	93	10	hidden	hidden	ADJ
ajase-5514	93	11	regimes	regime	NOUN
ajase-5514	93	12	that	that	PRON
ajase-5514	93	13	carry	carry	VERB
ajase-5514	93	14	significant	significant	ADJ
ajase-5514	93	15	economic	economic	ADJ
ajase-5514	93	16	implications	implication	NOUN
ajase-5514	93	17	and	and	CCONJ
ajase-5514	93	18	deepen	deepen	VERB
ajase-5514	93	19	understanding	understanding	NOUN
ajase-5514	93	20	of	of	ADP
ajase-5514	93	21	market	market	NOUN
ajase-5514	93	22	dynamics	dynamic	NOUN
ajase-5514	93	23	.	.	PUNCT
ajase-5514	94	1	it	it	PRON
ajase-5514	94	2	employs	employ	VERB
ajase-5514	94	3	discrete	discrete	ADJ
ajase-5514	94	4	latent	latent	NOUN
ajase-5514	94	5	variables	variable	NOUN
ajase-5514	94	6	for	for	ADP
ajase-5514	94	7	regimes	regime	NOUN
ajase-5514	94	8	and	and	CCONJ
ajase-5514	94	9	continuous	continuous	ADJ
ajase-5514	94	10	ones	one	NOUN
ajase-5514	94	11	for	for	ADP
ajase-5514	94	12	random	random	ADJ
ajase-5514	94	13	influences	influence	NOUN
ajase-5514	94	14	,	,	PUNCT
ajase-5514	94	15	combining	combine	VERB
ajase-5514	94	16	an	an	DET
ajase-5514	94	17	rnn	rnn	NOUN
ajase-5514	94	18	with	with	ADP
ajase-5514	94	19	a	a	DET
ajase-5514	94	20	nonlinear	nonlinear	ADJ
ajase-5514	94	21	switching	switch	VERB
ajase-5514	94	22	state	state	NOUN
ajase-5514	94	23	space	space	NOUN
ajase-5514	94	24	model	model	NOUN
ajase-5514	94	25	to	to	PART
ajase-5514	94	26	capture	capture	VERB
ajase-5514	94	27	nonlinear	nonlinear	ADJ
ajase-5514	94	28	dependencies	dependency	NOUN
ajase-5514	94	29	and	and	CCONJ
ajase-5514	94	30	regime	regime	NOUN
ajase-5514	94	31	shifts	shift	NOUN
ajase-5514	94	32	driven	drive	VERB
ajase-5514	94	33	by	by	ADP
ajase-5514	94	34	a	a	DET
ajase-5514	94	35	markov	markov	NOUN
ajase-5514	94	36	process	process	NOUN
ajase-5514	94	37	.	.	PUNCT
ajase-5514	95	1	xiuqin	xiuqin	PROPN
ajase-5514	95	2	et	et	PROPN
ajase-5514	95	3	al	al	PROPN
ajase-5514	95	4	.	.	PROPN
ajase-5514	95	5	demonstrated	demonstrate	VERB
ajase-5514	95	6	dsssm	dsssm	PROPN
ajase-5514	95	7	’s	’s	PART
ajase-5514	95	8	effectiveness	effectiveness	NOUN
ajase-5514	95	9	through	through	ADP
ajase-5514	95	10	forecasting	forecasting	NOUN
ajase-5514	95	11	tests	test	NOUN
ajase-5514	95	12	on	on	ADP
ajase-5514	95	13	various	various	ADJ
ajase-5514	95	14	simulated	simulate	VERB
ajase-5514	95	15	and	and	CCONJ
ajase-5514	95	16	real	real	ADJ
ajase-5514	95	17	datasets	dataset	NOUN
ajase-5514	95	18	across	across	ADP
ajase-5514	95	19	sectors	sector	NOUN
ajase-5514	95	20	such	such	ADJ
ajase-5514	95	21	as	as	ADP
ajase-5514	95	22	healthcare	healthcare	NOUN
ajase-5514	95	23	,	,	PUNCT
ajase-5514	95	24	economics	economic	NOUN
ajase-5514	95	25	,	,	PUNCT
ajase-5514	95	26	traffic	traffic	NOUN
ajase-5514	95	27	,	,	PUNCT
ajase-5514	95	28	meteorology	meteorology	NOUN
ajase-5514	95	29	,	,	PUNCT
ajase-5514	95	30	and	and	CCONJ
ajase-5514	95	31	energy	energy	NOUN
ajase-5514	95	32	.	.	PUNCT
ajase-5514	96	1	later	later	ADV
ajase-5514	96	2	,	,	PUNCT
ajase-5514	96	3	antulov	antulov	NOUN
ajase-5514	96	4	-	-	PUNCT
ajase-5514	96	5	fantulin	fantulin	NOUN
ajase-5514	96	6	et	et	PROPN
ajase-5514	96	7	al	al	PROPN
ajase-5514	96	8	.	.	PROPN
ajase-5514	97	1	(	(	PUNCT
ajase-5514	97	2	2024	2024	NUM
ajase-5514	97	3	)	)	PUNCT
ajase-5514	97	4	proposed	propose	VERB
ajase-5514	97	5	a	a	DET
ajase-5514	97	6	new	new	ADJ
ajase-5514	97	7	method	method	NOUN
ajase-5514	97	8	for	for	ADP
ajase-5514	97	9	regime	regime	NOUN
ajase-5514	97	10	detection	detection	NOUN
ajase-5514	97	11	using	use	VERB
ajase-5514	97	12	a	a	DET
ajase-5514	97	13	deep	deep	ADJ
ajase-5514	97	14	learning	learning	NOUN
ajase-5514	97	15	architecture	architecture	NOUN
ajase-5514	97	16	called	call	VERB
ajase-5514	97	17	the	the	DET
ajase-5514	97	18	gated	gate	VERB
ajase-5514	97	19	recurrent	recurrent	ADJ
ajase-5514	97	20	straight	straight	ADJ
ajase-5514	97	21	-	-	PUNCT
ajase-5514	97	22	through	through	NOUN
ajase-5514	97	23	unit	unit	NOUN
ajase-5514	97	24	(	(	PUNCT
ajase-5514	97	25	grstu	grstu	PROPN
ajase-5514	97	26	)	)	PUNCT
ajase-5514	97	27	.	.	PUNCT
ajase-5514	98	1	their	their	PRON
ajase-5514	98	2	extensive	extensive	ADJ
ajase-5514	98	3	simulations	simulation	NOUN
ajase-5514	98	4	showed	show	VERB
ajase-5514	98	5	that	that	SCONJ
ajase-5514	98	6	the	the	DET
ajase-5514	98	7	grstu	grstu	PROPN
ajase-5514	98	8	outperformed	outperform	VERB
ajase-5514	98	9	traditional	traditional	ADJ
ajase-5514	98	10	statistical	statistical	ADJ
ajase-5514	98	11	jump	jump	NOUN
ajase-5514	98	12	models	model	NOUN
ajase-5514	98	13	,	,	PUNCT
ajase-5514	98	14	especially	especially	ADV
ajase-5514	98	15	in	in	ADP
ajase-5514	98	16	regime	regime	NOUN
ajase-5514	98	17	classification	classification	NOUN
ajase-5514	98	18	on	on	ADP
ajase-5514	98	19	smaller	small	ADJ
ajase-5514	98	20	datasets	dataset	NOUN
ajase-5514	98	21	,	,	PUNCT
ajase-5514	98	22	while	while	SCONJ
ajase-5514	98	23	performing	perform	VERB
ajase-5514	98	24	comparably	comparably	ADV
ajase-5514	98	25	on	on	ADP
ajase-5514	98	26	larger	large	ADJ
ajase-5514	98	27	datasets	dataset	NOUN
ajase-5514	98	28	.	.	PUNCT
ajase-5514	99	1	from	from	ADP
ajase-5514	99	2	the	the	DET
ajase-5514	99	3	above	above	NOUN
ajase-5514	99	4	,	,	PUNCT
ajase-5514	99	5	it	it	PRON
ajase-5514	99	6	is	be	AUX
ajase-5514	99	7	clear	clear	ADJ
ajase-5514	99	8	that	that	SCONJ
ajase-5514	99	9	many	many	ADJ
ajase-5514	99	10	studies	study	NOUN
ajase-5514	99	11	have	have	AUX
ajase-5514	99	12	focused	focus	VERB
ajase-5514	99	13	on	on	ADP
ajase-5514	99	14	modeling	model	VERB
ajase-5514	99	15	nonlinear	nonlinear	ADJ
ajase-5514	99	16	time	time	NOUN
ajase-5514	99	17	series	series	NOUN
ajase-5514	99	18	to	to	PART
ajase-5514	99	19	address	address	VERB
ajase-5514	99	20	issues	issue	NOUN
ajase-5514	99	21	like	like	ADP
ajase-5514	99	22	significant	significant	ADJ
ajase-5514	99	23	modeling	modeling	NOUN
ajase-5514	99	24	misspecification	misspecification	NOUN
ajase-5514	99	25	or	or	CCONJ
ajase-5514	99	26	difficulty	difficulty	NOUN
ajase-5514	99	27	in	in	ADP
ajase-5514	99	28	identifying	identify	VERB
ajase-5514	99	29	meaningful	meaningful	ADJ
ajase-5514	99	30	stochastic	stochastic	ADJ
ajase-5514	99	31	regimes	regime	NOUN
ajase-5514	99	32	.	.	PUNCT
ajase-5514	100	1	as	as	ADP
ajase-5514	100	2	a	a	DET
ajase-5514	100	3	result	result	NOUN
ajase-5514	100	4	,	,	PUNCT
ajase-5514	100	5	the	the	DET
ajase-5514	100	6	field	field	NOUN
ajase-5514	100	7	of	of	ADP
ajase-5514	100	8	deep	deep	ADJ
ajase-5514	100	9	learning	learning	NOUN
ajase-5514	100	10	,	,	PUNCT
ajase-5514	100	11	especially	especially	ADV
ajase-5514	100	12	recurrent	recurrent	ADJ
ajase-5514	100	13	neural	neural	ADJ
ajase-5514	100	14	networks	network	NOUN
ajase-5514	100	15	with	with	ADP
ajase-5514	100	16	gate	gate	NOUN
ajase-5514	100	17	structures	structure	NOUN
ajase-5514	100	18	such	such	ADJ
ajase-5514	100	19	as	as	ADP
ajase-5514	100	20	the	the	DET
ajase-5514	100	21	long	long	ADV
ajase-5514	100	22	-	-	PUNCT
ajase-5514	100	23	short	short	ADJ
ajase-5514	100	24	term	term	NOUN
ajase-5514	100	25	memory	memory	NOUN
ajase-5514	100	26	(	(	PUNCT
ajase-5514	100	27	lstm	lstm	NOUN
ajase-5514	100	28	)	)	PUNCT
ajase-5514	100	29	,	,	PUNCT
ajase-5514	100	30	gated	gate	VERB
ajase-5514	100	31	recurrent	recurrent	ADJ
ajase-5514	100	32	unit	unit	NOUN
ajase-5514	100	33	(	(	PUNCT
ajase-5514	100	34	gru	gru	PROPN
ajase-5514	100	35	)	)	PUNCT
ajase-5514	100	36	,	,	PUNCT
ajase-5514	100	37	transformers	transformer	NOUN
ajase-5514	100	38	,	,	PUNCT
ajase-5514	100	39	and	and	CCONJ
ajase-5514	100	40	temporal	temporal	ADJ
ajase-5514	100	41	convolution	convolution	NOUN
ajase-5514	100	42	networks	network	NOUN
ajase-5514	100	43	,	,	PUNCT
ajase-5514	100	44	has	have	AUX
ajase-5514	100	45	become	become	VERB
ajase-5514	100	46	the	the	DET
ajase-5514	100	47	new	new	ADJ
ajase-5514	100	48	standard	standard	NOUN
ajase-5514	100	49	for	for	ADP
ajase-5514	100	50	modeling	model	VERB
ajase-5514	100	51	complex	complex	ADJ
ajase-5514	100	52	nonlinear	nonlinear	ADJ
ajase-5514	100	53	dependencies	dependency	NOUN
ajase-5514	100	54	.	.	PUNCT
ajase-5514	101	1	however	however	ADV
ajase-5514	101	2	,	,	PUNCT
ajase-5514	101	3	the	the	DET
ajase-5514	101	4	small	small	ADJ
ajase-5514	101	5	size	size	NOUN
ajase-5514	101	6	of	of	ADP
ajase-5514	101	7	real	real	ADJ
ajase-5514	101	8	-	-	PUNCT
ajase-5514	101	9	world	world	NOUN
ajase-5514	101	10	data	data	NOUN
ajase-5514	101	11	samples	sample	NOUN
ajase-5514	101	12	and	and	CCONJ
ajase-5514	101	13	,	,	PUNCT
ajase-5514	101	14	more	more	ADV
ajase-5514	101	15	importantly	importantly	ADV
ajase-5514	101	16	,	,	PUNCT
ajase-5514	101	17	the	the	DET
ajase-5514	101	18	stochastic	stochastic	ADJ
ajase-5514	101	19	nature	nature	NOUN
ajase-5514	101	20	of	of	ADP
ajase-5514	101	21	regime	regime	NOUN
ajase-5514	101	22	switching	switching	NOUN
ajase-5514	101	23	,	,	PUNCT
ajase-5514	101	24	make	make	VERB
ajase-5514	101	25	traditional	traditional	ADJ
ajase-5514	101	26	deep	deep	ADJ
ajase-5514	101	27	learning	learning	NOUN
ajase-5514	101	28	methods	method	NOUN
ajase-5514	101	29	computationally	computationally	ADV
ajase-5514	101	30	challenging	challenging	ADJ
ajase-5514	101	31	.	.	PUNCT
ajase-5514	102	1	in	in	ADP
ajase-5514	102	2	other	other	ADJ
ajase-5514	102	3	words	word	NOUN
ajase-5514	102	4	,	,	PUNCT
ajase-5514	102	5	these	these	DET
ajase-5514	102	6	methods	method	NOUN
ajase-5514	102	7	require	require	VERB
ajase-5514	102	8	large	large	ADJ
ajase-5514	102	9	sample	sample	NOUN
ajase-5514	102	10	sizes	size	NOUN
ajase-5514	102	11	for	for	ADP
ajase-5514	102	12	reliable	reliable	ADJ
ajase-5514	102	13	estimation	estimation	NOUN
ajase-5514	102	14	,	,	PUNCT
ajase-5514	102	15	which	which	PRON
ajase-5514	102	16	is	be	AUX
ajase-5514	102	17	often	often	ADV
ajase-5514	102	18	unrealistic	unrealistic	ADJ
ajase-5514	102	19	because	because	SCONJ
ajase-5514	102	20	many	many	ADJ
ajase-5514	102	21	disciplines	discipline	NOUN
ajase-5514	102	22	do	do	AUX
ajase-5514	102	23	not	not	PART
ajase-5514	102	24	have	have	VERB
ajase-5514	102	25	large	large	ADJ
ajase-5514	102	26	volumes	volume	NOUN
ajase-5514	102	27	of	of	ADP
ajase-5514	102	28	time	time	NOUN
ajase-5514	102	29	series	series	PROPN
ajase-5514	102	30	data	data	PROPN
ajase-5514	102	31	.	.	PUNCT
ajase-5514	103	1	in	in	ADP
ajase-5514	103	2	light	light	NOUN
ajase-5514	103	3	of	of	ADP
ajase-5514	103	4	these	these	DET
ajase-5514	103	5	challenges	challenge	NOUN
ajase-5514	103	6	,	,	PUNCT
ajase-5514	103	7	dong	dong	PROPN
ajase-5514	103	8	et	et	PROPN
ajase-5514	103	9	al	al	PROPN
ajase-5514	103	10	.	.	PROPN
ajase-5514	103	11	(	(	PUNCT
ajase-5514	103	12	2020	2020	NUM
ajase-5514	103	13	)	)	PUNCT
ajase-5514	103	14	,	,	PUNCT
ajase-5514	103	15	farnoosh	farnoosh	ADV
ajase-5514	103	16	et	et	PROPN
ajase-5514	103	17	al	al	PROPN
ajase-5514	103	18	.	.	PROPN
ajase-5514	103	19	(	(	PUNCT
ajase-5514	103	20	2021	2021	NUM
ajase-5514	103	21	)	)	PUNCT
ajase-5514	103	22	,	,	PUNCT
ajase-5514	103	23	and	and	CCONJ
ajase-5514	103	24	xiuqin	xiuqin	NOUN
ajase-5514	103	25	et	et	PROPN
ajase-5514	103	26	al	al	PROPN
ajase-5514	103	27	.	.	PROPN
ajase-5514	104	1	(	(	PUNCT
ajase-5514	104	2	2023	2023	NUM
ajase-5514	104	3	)	)	PUNCT
ajase-5514	104	4	developed	develop	VERB
ajase-5514	104	5	switching	switch	VERB
ajase-5514	104	6	non	non	ADJ
ajase-5514	104	7	-	-	ADJ
ajase-5514	104	8	linear	linear	ADJ
ajase-5514	104	9	dynamical	dynamical	ADJ
ajase-5514	104	10	systems	system	NOUN
ajase-5514	104	11	(	(	PUNCT
ajase-5514	104	12	snlds	snld	NOUN
ajase-5514	104	13	)	)	PUNCT
ajase-5514	104	14	,	,	PUNCT
ajase-5514	104	15	deep	deep	ADJ
ajase-5514	104	16	switching	switch	VERB
ajase-5514	104	17	autoregressive	autoregressive	ADJ
ajase-5514	104	18	factorization	factorization	NOUN
ajase-5514	104	19	(	(	PUNCT
ajase-5514	104	20	dsarf	dsarf	NOUN
ajase-5514	104	21	)	)	PUNCT
ajase-5514	104	22	,	,	PUNCT
ajase-5514	104	23	and	and	CCONJ
ajase-5514	104	24	deep	deep	ADJ
ajase-5514	104	25	state	state	NOUN
ajase-5514	104	26	switching	switch	VERB
ajase-5514	104	27	model	model	NOUN
ajase-5514	104	28	(	(	PUNCT
ajase-5514	104	29	dssm	dssm	NOUN
ajase-5514	104	30	)	)	PUNCT
ajase-5514	104	31	,	,	PUNCT
ajase-5514	104	32	respectively	respectively	ADV
ajase-5514	104	33	,	,	PUNCT
ajase-5514	104	34	to	to	ADP
ajase-5514	104	35	better	well	ADJ
ajase-5514	104	36	address	address	VERB
ajase-5514	104	37	issues	issue	NOUN
ajase-5514	104	38	of	of	ADP
ajase-5514	104	39	misspecification	misspecification	NOUN
ajase-5514	104	40	and	and	CCONJ
ajase-5514	104	41	the	the	DET
ajase-5514	104	42	difficulty	difficulty	NOUN
ajase-5514	104	43	in	in	ADP
ajase-5514	104	44	identifying	identify	VERB
ajase-5514	104	45	meaningful	meaningful	ADJ
ajase-5514	104	46	stochastic	stochastic	ADJ
ajase-5514	104	47	regimes	regime	NOUN
ajase-5514	104	48	in	in	ADP
ajase-5514	104	49	nonlinear	nonlinear	ADJ
ajase-5514	104	50	time	time	NOUN
ajase-5514	104	51	series	series	PROPN
ajase-5514	104	52	.	.	PUNCT
ajase-5514	105	1	nonetheless	nonetheless	ADV
ajase-5514	105	2	,	,	PUNCT
ajase-5514	105	3	computing	compute	VERB
ajase-5514	105	4	the	the	DET
ajase-5514	105	5	feasibility	feasibility	NOUN
ajase-5514	105	6	of	of	ADP
ajase-5514	105	7	these	these	DET
ajase-5514	105	8	models	model	NOUN
ajase-5514	105	9	,	,	PUNCT
ajase-5514	105	10	especially	especially	ADV
ajase-5514	105	11	with	with	ADP
ajase-5514	105	12	small	small	ADJ
ajase-5514	105	13	sample	sample	NOUN
ajase-5514	105	14	sizes	size	NOUN
ajase-5514	105	15	,	,	PUNCT
ajase-5514	105	16	remains	remain	VERB
ajase-5514	105	17	a	a	DET
ajase-5514	105	18	challenge	challenge	NOUN
ajase-5514	105	19	.	.	PUNCT
ajase-5514	106	1	therefore	therefore	ADV
ajase-5514	106	2	,	,	PUNCT
ajase-5514	106	3	this	this	DET
ajase-5514	106	4	research	research	NOUN
ajase-5514	106	5	aims	aim	VERB
ajase-5514	106	6	to	to	PART
ajase-5514	106	7	propose	propose	VERB
ajase-5514	106	8	new	new	ADJ
ajase-5514	106	9	neural	neural	ADJ
ajase-5514	106	10	network	network	NOUN
ajase-5514	106	11	-	-	PUNCT
ajase-5514	106	12	based	base	VERB
ajase-5514	106	13	regime	regime	NOUN
ajase-5514	106	14	switching	switch	VERB
ajase-5514	106	15	models	model	NOUN
ajase-5514	106	16	that	that	PRON
ajase-5514	106	17	can	can	AUX
ajase-5514	106	18	improve	improve	VERB
ajase-5514	106	19	regime	regime	NOUN
ajase-5514	106	20	prediction	prediction	NOUN
ajase-5514	106	21	for	for	ADP
ajase-5514	106	22	nonlinear	nonlinear	ADJ
ajase-5514	106	23	time	time	NOUN
ajase-5514	106	24	series	series	PROPN
ajase-5514	106	25	data	data	PROPN
ajase-5514	106	26	,	,	PUNCT
ajase-5514	106	27	such	such	ADJ
ajase-5514	106	28	as	as	ADP
ajase-5514	106	29	returns	return	NOUN
ajase-5514	106	30	,	,	PUNCT
ajase-5514	106	31	particularly	particularly	ADV
ajase-5514	106	32	when	when	SCONJ
ajase-5514	106	33	working	work	VERB
ajase-5514	106	34	with	with	ADP
ajase-5514	106	35	small	small	ADJ
ajase-5514	106	36	sample	sample	NOUN
ajase-5514	106	37	sizes	size	NOUN
ajase-5514	106	38	.	.	PUNCT
ajase-5514	107	1	materials	material	NOUN
ajase-5514	107	2	and	and	CCONJ
ajase-5514	107	3	methods	method	NOUN
ajase-5514	107	4	the	the	DET
ajase-5514	107	5	novel	novel	ADJ
ajase-5514	107	6	neural	neural	ADJ
ajase-5514	107	7	network	network	NOUN
ajase-5514	107	8	state	state	NOUN
ajase-5514	107	9	switching	switching	NOUN
ajase-5514	107	10	models	model	NOUN
ajase-5514	107	11	to	to	PART
ajase-5514	107	12	improve	improve	VERB
ajase-5514	107	13	the	the	DET
ajase-5514	107	14	regime	regime	NOUN
ajase-5514	107	15	prediction	prediction	NOUN
ajase-5514	107	16	performance	performance	NOUN
ajase-5514	107	17	of	of	ADP
ajase-5514	107	18	famous	famous	ADJ
ajase-5514	107	19	state	state	NOUN
ajase-5514	107	20	switching	switch	VERB
ajase-5514	107	21	model	model	NOUN
ajase-5514	107	22	described	describe	VERB
ajase-5514	107	23	in	in	ADP
ajase-5514	107	24	equation	equation	NOUN
ajase-5514	107	25	(	(	PUNCT
ajase-5514	107	26	1	1	NUM
ajase-5514	107	27	)	)	PUNCT
ajase-5514	107	28	for	for	ADP
ajase-5514	107	29	nonlinear	nonlinear	ADJ
ajase-5514	107	30	time	time	NOUN
ajase-5514	107	31	series	series	PROPN
ajase-5514	107	32	data	data	PROPN
ajase-5514	107	33	,	,	PUNCT
ajase-5514	107	34	especially	especially	ADV
ajase-5514	107	35	returns	return	NOUN
ajase-5514	107	36	,	,	PUNCT
ajase-5514	107	37	in	in	ADP
ajase-5514	107	38	small	small	ADJ
ajase-5514	107	39	sample	sample	NOUN
ajase-5514	107	40	size	size	NOUN
ajase-5514	107	41	contexts	contexts	NOUN
ajase-5514	107	42	,	,	PUNCT
ajase-5514	107	43	this	this	DET
ajase-5514	107	44	study	study	NOUN
ajase-5514	107	45	integrates	integrate	VERB
ajase-5514	107	46	deep	deep	ADJ
ajase-5514	107	47	neural	neural	ADJ
ajase-5514	107	48	networks	network	NOUN
ajase-5514	107	49	these	these	PRON
ajase-5514	107	50	include	include	VERB
ajase-5514	107	51	;	;	PUNCT
ajase-5514	107	52	recurrent	recurrent	ADJ
ajase-5514	107	53	neural	neural	ADJ
ajase-5514	107	54	network	network	NOUN
ajase-5514	107	55	(	(	PUNCT
ajase-5514	107	56	rnn	rnn	PROPN
ajase-5514	107	57	)	)	PUNCT
ajase-5514	107	58	,	,	PUNCT
ajase-5514	107	59	radial	radial	ADJ
ajase-5514	107	60	basis	basis	NOUN
ajase-5514	107	61	function	function	NOUN
ajase-5514	107	62	network	network	NOUN
ajase-5514	107	63	(	(	PUNCT
ajase-5514	107	64	rbf	rbf	PROPN
ajase-5514	107	65	)	)	PUNCT
ajase-5514	107	66	,	,	PUNCT
ajase-5514	107	67	generalized	generalize	VERB
ajase-5514	107	68	regression	regression	NOUN
ajase-5514	107	69	neural	neural	ADJ
ajase-5514	107	70	network	network	NOUN
ajase-5514	107	71	(	(	PUNCT
ajase-5514	107	72	grnn	grnn	PROPN
ajase-5514	107	73	)	)	PUNCT
ajase-5514	107	74	and	and	CCONJ
ajase-5514	107	75	multilayer	multilayer	ADJ
ajase-5514	107	76	perceptrons	perceptron	NOUN
ajase-5514	107	77	(	(	PUNCT
ajase-5514	107	78	mlp	mlp	NOUN
ajase-5514	107	79	)	)	PUNCT
ajase-5514	107	80	with	with	ADP
ajase-5514	107	81	markov	markov	NOUN
ajase-5514	107	82	two	two	NUM
ajase-5514	107	83	-	-	PUNCT
ajase-5514	107	84	state	state	NOUN
ajase-5514	107	85	switching	switch	VERB
ajase-5514	107	86	modelling	modelling	NOUN
ajase-5514	107	87	technique	technique	NOUN
ajase-5514	107	88	.	.	PUNCT
ajase-5514	108	1	the	the	DET
ajase-5514	108	2	proposed	propose	VERB
ajase-5514	108	3	neural	neural	ADJ
ajase-5514	108	4	network	network	NOUN
ajase-5514	108	5	state	state	NOUN
ajase-5514	108	6	switching	switch	VERB
ajase-5514	108	7	modeling	modeling	NOUN
ajase-5514	108	8	approach	approach	NOUN
ajase-5514	108	9	combines	combine	VERB
ajase-5514	108	10	the	the	DET
ajase-5514	108	11	strengths	strength	NOUN
ajase-5514	108	12	of	of	ADP
ajase-5514	108	13	deep	deep	ADJ
ajase-5514	108	14	neural	neural	ADJ
ajase-5514	108	15	networks	network	NOUN
ajase-5514	108	16	(	(	PUNCT
ajase-5514	108	17	i.e.	i.e.	X
ajase-5514	108	18	efficient	efficient	ADJ
ajase-5514	108	19	in	in	ADP
ajase-5514	108	20	high	high	ADJ
ajase-5514	108	21	complexity	complexity	NOUN
ajase-5514	108	22	dataset	dataset	NOUN
ajase-5514	108	23	)	)	PUNCT
ajase-5514	108	24	and	and	CCONJ
ajase-5514	108	25	markov	markov	PROPN
ajase-5514	108	26	two	two	NUM
ajase-5514	108	27	-	-	PUNCT
ajase-5514	108	28	state	state	NOUN
ajase-5514	108	29	switching	switch	VERB
ajase-5514	108	30	capabilities	capability	NOUN
ajase-5514	108	31	of	of	ADP
ajase-5514	108	32	ensuring	ensure	VERB
ajase-5514	108	33	both	both	DET
ajase-5514	108	34	interpretability	interpretability	NOUN
ajase-5514	108	35	and	and	CCONJ
ajase-5514	108	36	predictability	predictability	NOUN
ajase-5514	108	37	of	of	ADP
ajase-5514	108	38	two	two	NUM
ajase-5514	108	39	financial	financial	ADJ
ajase-5514	108	40	state	state	NOUN
ajase-5514	108	41	of	of	ADP
ajase-5514	108	42	market	market	NOUN
ajase-5514	108	43	returns	return	NOUN
ajase-5514	108	44	(	(	PUNCT
ajase-5514	108	45	i.e.	i.e.	X
ajase-5514	108	46	bull	bull	NOUN
ajase-5514	108	47	and	and	CCONJ
ajase-5514	108	48	bear	bear	VERB
ajase-5514	108	49	states	state	NOUN
ajase-5514	108	50	)	)	PUNCT
ajase-5514	108	51	.	.	PUNCT
ajase-5514	109	1	the	the	DET
ajase-5514	109	2	models	model	NOUN
ajase-5514	109	3	are	be	AUX
ajase-5514	109	4	developed	develop	VERB
ajase-5514	109	5	in	in	ADP
ajase-5514	109	6	two	two	NUM
ajase-5514	109	7	phases	phase	NOUN
ajase-5514	109	8	.	.	PUNCT
ajase-5514	110	1	1st	1st	ADJ
ajase-5514	110	2	phase	phase	NOUN
ajase-5514	110	3	:	:	PUNCT
ajase-5514	110	4	generative	generative	ADJ
ajase-5514	110	5	network	network	NOUN
ajase-5514	110	6	using	use	VERB
ajase-5514	110	7	rnn	rnn	PROPN
ajase-5514	110	8	,	,	PUNCT
ajase-5514	110	9	grnn	grnn	PROPN
ajase-5514	110	10	,	,	PUNCT
ajase-5514	110	11	rbf	rbf	PROPN
ajase-5514	110	12	and	and	CCONJ
ajase-5514	110	13	mlp	mlp	PROPN
ajase-5514	110	14	given	give	VERB
ajase-5514	110	15	time	time	NOUN
ajase-5514	110	16	series	series	NOUN
ajase-5514	110	17	dataset	dataset	NOUN
ajase-5514	110	18	of	of	ADP
ajase-5514	110	19	yt	yt	PROPN
ajase-5514	110	20	,	,	PUNCT
ajase-5514	110	21	the	the	DET
ajase-5514	110	22	generative	generative	ADJ
ajase-5514	110	23	network	network	NOUN
ajase-5514	110	24	procedure	procedure	NOUN
ajase-5514	110	25	for	for	ADP
ajase-5514	110	26	the	the	DET
ajase-5514	110	27	dataset	dataset	NOUN
ajase-5514	110	28	include	include	VERB
ajase-5514	110	29	the	the	DET
ajase-5514	110	30	following	follow	VERB
ajase-5514	110	31	:	:	PUNCT
ajase-5514	110	32	ⅰ	ⅰ	X
ajase-5514	110	33	define	define	NOUN
ajase-5514	110	34	of	of	ADP
ajase-5514	110	35	training	training	NOUN
ajase-5514	110	36	and	and	CCONJ
ajase-5514	110	37	testing	testing	NOUN
ajase-5514	110	38	dataset	dataset	NOUN
ajase-5514	110	39	of	of	ADP
ajase-5514	110	40	yt	yt	NOUN
ajase-5514	110	41	i.e.	i.e.	X
ajase-5514	110	42	by	by	ADP
ajase-5514	110	43	setting	set	VERB
ajase-5514	110	44	training	training	NOUN
ajase-5514	110	45	dataset	dataset	NOUN
ajase-5514	110	46	at	at	ADP
ajase-5514	110	47	time	time	NOUN
ajase-5514	110	48	step	step	PROPN
ajase-5514	110	49	tk	tk	PROPN
ajase-5514	110	50	,	,	PUNCT
ajase-5514	110	51	and	and	CCONJ
ajase-5514	110	52	testing	testing	NOUN
ajase-5514	110	53	dataset	dataset	VERB
ajase-5514	110	54	at	at	ADP
ajase-5514	110	55	time	time	NOUN
ajase-5514	110	56	step	step	NOUN
ajase-5514	110	57	t(t	t(t	NOUN
ajase-5514	110	58	-	-	PUNCT
ajase-5514	110	59	k	k	NOUN
ajase-5514	110	60	)	)	PUNCT
ajase-5514	110	61	ⅰⅰ	ⅰⅰ	NOUN
ajase-5514	110	62	at	at	ADP
ajase-5514	110	63	time	time	NOUN
ajase-5514	110	64	step	step	PROPN
ajase-5514	110	65	t_k	t_k	PROPN
ajase-5514	110	66	,	,	PUNCT
ajase-5514	110	67	either	either	CCONJ
ajase-5514	110	68	rnn	rnn	PROPN
ajase-5514	110	69	,	,	PUNCT
ajase-5514	110	70	grnn	grnn	PROPN
ajase-5514	110	71	,	,	PUNCT
ajase-5514	110	72	rbf	rbf	PROPN
ajase-5514	110	73	or	or	CCONJ
ajase-5514	110	74	mlp	mlp	PROPN
ajase-5514	110	75	is	be	AUX
ajase-5514	110	76	used	use	VERB
ajase-5514	110	77	to	to	PART
ajase-5514	110	78	process	process	VERB
ajase-5514	110	79	the	the	DET
ajase-5514	110	80	input	input	NOUN
ajase-5514	110	81	data	datum	NOUN
ajase-5514	110	82	(	(	PUNCT
ajase-5514	110	83	i.e.	i.e.	X
ajase-5514	110	84	training	training	NOUN
ajase-5514	110	85	dataset	dataset	NOUN
ajase-5514	110	86	)	)	PUNCT
ajase-5514	110	87	such	such	ADJ
ajase-5514	110	88	as	as	ADP
ajase-5514	110	89	ht	ht	PROPN
ajase-5514	110	90	~	~	PROPN
ajase-5514	110	91	fh	fh	PROPN
ajase-5514	110	92	(	(	PUNCT
ajase-5514	110	93	yt	yt	PROPN
ajase-5514	110	94	)	)	PUNCT
ajase-5514	111	1	where	where	SCONJ
ajase-5514	111	2	f_h	f_h	PUNCT
ajase-5514	111	3	is	be	AUX
ajase-5514	111	4	the	the	DET
ajase-5514	111	5	function	function	NOUN
ajase-5514	111	6	of	of	ADP
ajase-5514	111	7	rnn	rnn	PROPN
ajase-5514	111	8	,	,	PUNCT
ajase-5514	111	9	grnn	grnn	PROPN
ajase-5514	111	10	,	,	PUNCT
ajase-5514	111	11	rbf	rbf	PROPN
ajase-5514	111	12	or	or	CCONJ
ajase-5514	111	13	mlp	mlp	PROPN
ajase-5514	111	14	.	.	PUNCT
ajase-5514	112	1	pa	pa	PROPN
ajase-5514	112	2	ge	ge	PROPN
ajase-5514	112	3	97	97	NUM
ajase-5514	112	4	https://journals.e-palli.com/home/index.php/ajase	https://journals.e-palli.com/home/index.php/ajase	PROPN
ajase-5514	112	5	am	be	AUX
ajase-5514	112	6	.	.	PUNCT
ajase-5514	113	1	j.	j.	PROPN
ajase-5514	113	2	appl	appl	PROPN
ajase-5514	113	3	.	.	PROPN
ajase-5514	114	1	stat	stat	PROPN
ajase-5514	114	2	.	.	PUNCT
ajase-5514	115	1	econ	econ	PROPN
ajase-5514	115	2	.	.	PUNCT
ajase-5514	116	1	4(1	4(1	X
ajase-5514	116	2	)	)	PUNCT
ajase-5514	116	3	94	94	NUM
ajase-5514	116	4	-	-	SYM
ajase-5514	116	5	107	107	NUM
ajase-5514	116	6	,	,	PUNCT
ajase-5514	116	7	2025	2025	NUM
ajase-5514	116	8	2nd	2nd	ADJ
ajase-5514	116	9	phase	phase	NOUN
ajase-5514	116	10	:	:	PUNCT
ajase-5514	116	11	integration	integration	NOUN
ajase-5514	116	12	of	of	ADP
ajase-5514	116	13	generative	generative	ADJ
ajase-5514	116	14	network	network	NOUN
ajase-5514	116	15	ht	ht	PROPN
ajase-5514	116	16	into	into	ADP
ajase-5514	116	17	the	the	DET
ajase-5514	116	18	markov	markov	NOUN
ajase-5514	116	19	two	two	NUM
ajase-5514	116	20	-	-	PUNCT
ajase-5514	116	21	state	state	NOUN
ajase-5514	116	22	switching	switching	NOUN
ajase-5514	116	23	model	model	NOUN
ajase-5514	116	24	subsequently	subsequently	ADV
ajase-5514	116	25	,	,	PUNCT
ajase-5514	116	26	the	the	DET
ajase-5514	116	27	generative	generative	ADJ
ajase-5514	116	28	network	network	NOUN
ajase-5514	116	29	ht	ht	PROPN
ajase-5514	116	30	is	be	AUX
ajase-5514	116	31	integrated	integrate	VERB
ajase-5514	116	32	in	in	ADP
ajase-5514	116	33	the	the	DET
ajase-5514	116	34	markov	markov	NOUN
ajase-5514	116	35	two	two	NUM
ajase-5514	116	36	-	-	PUNCT
ajase-5514	116	37	state	state	NOUN
ajase-5514	116	38	switching	switching	NOUN
ajase-5514	116	39	model	model	NOUN
ajase-5514	116	40	alongside	alongside	ADP
ajase-5514	116	41	the	the	DET
ajase-5514	116	42	defined	define	VERB
ajase-5514	116	43	training	training	NOUN
ajase-5514	116	44	dataset	dataset	VERB
ajase-5514	116	45	to	to	PART
ajase-5514	116	46	develop	develop	VERB
ajase-5514	116	47	recurrent	recurrent	ADJ
ajase-5514	116	48	neural	neural	ADJ
ajase-5514	116	49	network	network	NOUN
ajase-5514	116	50	state	state	NOUN
ajase-5514	116	51	switching	switching	NOUN
ajase-5514	116	52	model	model	NOUN
ajase-5514	116	53	(	(	PUNCT
ajase-5514	116	54	rnnssm	rnnssm	NOUN
ajase-5514	116	55	)	)	PUNCT
ajase-5514	116	56	,	,	PUNCT
ajase-5514	116	57	generalized	generalize	VERB
ajase-5514	116	58	regression	regression	NOUN
ajase-5514	116	59	neural	neural	ADJ
ajase-5514	116	60	network	network	NOUN
ajase-5514	116	61	state	state	NOUN
ajase-5514	116	62	switching	switching	NOUN
ajase-5514	116	63	model	model	NOUN
ajase-5514	116	64	(	(	PUNCT
ajase-5514	116	65	grnnssm	grnnssm	NOUN
ajase-5514	116	66	)	)	PUNCT
ajase-5514	116	67	,	,	PUNCT
ajase-5514	116	68	radial	radial	ADJ
ajase-5514	116	69	basis	basis	NOUN
ajase-5514	116	70	function	function	NOUN
ajase-5514	116	71	network	network	NOUN
ajase-5514	116	72	state	state	NOUN
ajase-5514	116	73	switching	switching	NOUN
ajase-5514	116	74	model	model	NOUN
ajase-5514	116	75	(	(	PUNCT
ajase-5514	116	76	rbfssm	rbfssm	NOUN
ajase-5514	116	77	)	)	PUNCT
ajase-5514	116	78	and	and	CCONJ
ajase-5514	116	79	multilayer	multilayer	ADJ
ajase-5514	116	80	perceptrons	perceptron	NOUN
ajase-5514	116	81	state	state	NOUN
ajase-5514	116	82	switching	switching	NOUN
ajase-5514	116	83	model	model	NOUN
ajase-5514	116	84	(	(	PUNCT
ajase-5514	116	85	mlpssm	mlpssm	NOUN
ajase-5514	116	86	)	)	PUNCT
ajase-5514	116	87	.	.	PUNCT
ajase-5514	117	1	this	this	PRON
ajase-5514	117	2	would	would	AUX
ajase-5514	117	3	give	give	VERB
ajase-5514	117	4	us	we	PRON
ajase-5514	117	5	the	the	DET
ajase-5514	117	6	following	follow	VERB
ajase-5514	117	7	model	model	NOUN
ajase-5514	117	8	to	to	PART
ajase-5514	117	9	work	work	VERB
ajase-5514	117	10	with	with	ADP
ajase-5514	117	11	:	:	PUNCT
ajase-5514	117	12	y(tk	y(tk	PROPN
ajase-5514	117	13	~	~	SYM
ajase-5514	117	14	ht)=gt	ht)=gt	NOUN
ajase-5514	117	15	=	=	PROPN
ajase-5514	117	16	c(st)+β1(g(t-1)-c(st-1))+β2	c(st)+β1(g(t-1)-c(st-1))+β2	PROPN
ajase-5514	117	17	(	(	PUNCT
ajase-5514	117	18	g(t-2)-c(st-2	g(t-2)-c(st-2	PROPN
ajase-5514	117	19	)	)	PUNCT
ajase-5514	117	20	)	)	PUNCT
ajase-5514	118	1	+	+	ADP
ajase-5514	118	2	ϵt	ϵt	NOUN
ajase-5514	118	3	(	(	PUNCT
ajase-5514	118	4	2	2	NUM
ajase-5514	118	5	)	)	PUNCT
ajase-5514	118	6	where	where	SCONJ
ajase-5514	118	7	c(st)=c0	c(st)=c0	NOUN
ajase-5514	118	8	s0t+c1	s0t+c1	VERB
ajase-5514	118	9	s1t+c2	s1t+c2	PROPN
ajase-5514	118	10	s2	s2	PROPN
ajase-5514	118	11	t	t	PROPN
ajase-5514	118	12	σ2	σ2	PROPN
ajase-5514	118	13	(	(	PUNCT
ajase-5514	118	14	st)=σ2	st)=σ2	PROPN
ajase-5514	118	15	1	1	NUM
ajase-5514	118	16	s1t+σ2	s1t+σ2	NOUN
ajase-5514	118	17	2	2	NUM
ajase-5514	118	18	s2	s2	NOUN
ajase-5514	118	19	t	t	NOUN
ajase-5514	118	20	ϵt	ϵt	ADP
ajase-5514	118	21	~	~	ADP
ajase-5514	118	22	i.i.d(0,σ2	i.i.d(0,σ2	X
ajase-5514	118	23	(	(	PUNCT
ajase-5514	118	24	st	st	NOUN
ajase-5514	118	25	)	)	PUNCT
ajase-5514	118	26	)	)	PUNCT
ajase-5514	118	27	c(st	c(st	PROPN
ajase-5514	118	28	)	)	PUNCT
ajase-5514	118	29	is	be	AUX
ajase-5514	118	30	the	the	DET
ajase-5514	118	31	state	state	NOUN
ajase-5514	118	32	dependent	dependent	ADJ
ajase-5514	118	33	mean	mean	NOUN
ajase-5514	118	34	,	,	PUNCT
ajase-5514	118	35	σ2	σ2	PROPN
ajase-5514	118	36	(	(	PUNCT
ajase-5514	118	37	st	st	PROPN
ajase-5514	118	38	)	)	PUNCT
ajase-5514	118	39	is	be	AUX
ajase-5514	118	40	state	state	NOUN
ajase-5514	118	41	dependent	dependent	ADJ
ajase-5514	118	42	variance	variance	NOUN
ajase-5514	118	43	and	and	CCONJ
ajase-5514	118	44	the	the	DET
ajase-5514	118	45	coefficients	coefficient	NOUN
ajase-5514	118	46	are	be	AUX
ajase-5514	118	47	β1or	β1or	PUNCT
ajase-5514	118	48	β2	β2	VERB
ajase-5514	118	49	;	;	PUNCT
ajase-5514	118	50	which	which	PRON
ajase-5514	118	51	could	could	AUX
ajase-5514	118	52	be	be	AUX
ajase-5514	118	53	different	different	ADJ
ajase-5514	118	54	for	for	ADP
ajase-5514	118	55	different	different	ADJ
ajase-5514	118	56	subsamples	subsample	NOUN
ajase-5514	118	57	.	.	PUNCT
ajase-5514	119	1	the	the	DET
ajase-5514	119	2	proposal	proposal	NOUN
ajase-5514	119	3	will	will	AUX
ajase-5514	119	4	be	be	AUX
ajase-5514	119	5	to	to	PART
ajase-5514	119	6	model	model	VERB
ajase-5514	119	7	the	the	DET
ajase-5514	119	8	state	state	NOUN
ajase-5514	119	9	st	st	PROPN
ajase-5514	119	10	as	as	ADP
ajase-5514	119	11	the	the	DET
ajase-5514	119	12	outcome	outcome	NOUN
ajase-5514	119	13	of	of	ADP
ajase-5514	119	14	an	an	DET
ajase-5514	119	15	unobserved	unobserved	ADJ
ajase-5514	119	16	two	two	NUM
ajase-5514	119	17	-	-	PUNCT
ajase-5514	119	18	state	state	NOUN
ajase-5514	119	19	markov	markov	NOUN
ajase-5514	119	20	chain	chain	NOUN
ajase-5514	119	21	with	with	ADP
ajase-5514	119	22	st	st	PROPN
ajase-5514	119	23	independent	independent	NOUN
ajase-5514	119	24	of	of	ADP
ajase-5514	119	25	ϵt	ϵt	PRON
ajase-5514	119	26	for	for	ADP
ajase-5514	119	27	all	all	DET
ajase-5514	119	28	t.	t.	NOUN
ajase-5514	119	29	the	the	DET
ajase-5514	119	30	transitions	transition	NOUN
ajase-5514	119	31	of	of	ADP
ajase-5514	119	32	the	the	DET
ajase-5514	119	33	st	st	PROPN
ajase-5514	119	34	,	,	PUNCT
ajase-5514	119	35	are	be	AUX
ajase-5514	119	36	presumed	presume	VERB
ajase-5514	119	37	to	to	PART
ajase-5514	119	38	be	be	AUX
ajase-5514	119	39	ergodic	ergodic	ADJ
ajase-5514	119	40	and	and	CCONJ
ajase-5514	119	41	intricate	intricate	ADJ
ajase-5514	119	42	first	first	ADJ
ajase-5514	119	43	order	order	NOUN
ajase-5514	119	44	markov	markov	NOUN
ajase-5514	119	45	-	-	PUNCT
ajase-5514	119	46	process	process	NOUN
ajase-5514	119	47	.	.	PUNCT
ajase-5514	120	1	this	this	PRON
ajase-5514	120	2	means	mean	VERB
ajase-5514	120	3	impacts	impact	NOUN
ajase-5514	120	4	of	of	ADP
ajase-5514	120	5	earlier	early	ADJ
ajase-5514	120	6	observation(s	observation(s	NOUN
ajase-5514	120	7	)	)	PUNCT
ajase-5514	120	8	for	for	ADP
ajase-5514	120	9	the	the	DET
ajase-5514	120	10	gt	gt	PROPN
ajase-5514	120	11	and	and	CCONJ
ajase-5514	120	12	state(s	state(s	PROPN
ajase-5514	120	13	)	)	PUNCT
ajase-5514	120	14	is	be	AUX
ajase-5514	120	15	/	/	PUNCT
ajase-5514	120	16	are	be	AUX
ajase-5514	120	17	completely	completely	ADV
ajase-5514	120	18	captured	capture	VERB
ajase-5514	120	19	in	in	ADP
ajase-5514	120	20	the	the	DET
ajase-5514	120	21	recent	recent	ADJ
ajase-5514	120	22	gt	gt	PROPN
ajase-5514	120	23	state(s	state(s	PROPN
ajase-5514	120	24	)	)	PUNCT
ajase-5514	120	25	observations	observation	NOUN
ajase-5514	120	26	as	as	SCONJ
ajase-5514	120	27	represented	represent	VERB
ajase-5514	120	28	in	in	ADP
ajase-5514	120	29	(	(	PUNCT
ajase-5514	120	30	3	3	NUM
ajase-5514	120	31	)	)	PUNCT
ajase-5514	120	32	;	;	PUNCT
ajase-5514	121	1	ρij	ρij	NOUN
ajase-5514	121	2	=	=	SYM
ajase-5514	121	3	prob(st	prob(st	NOUN
ajase-5514	121	4	=	=	SYM
ajase-5514	121	5	j⁄s(t-1	j⁄s(t-1	NOUN
ajase-5514	121	6	)	)	PUNCT
ajase-5514	122	1	=	=	NOUN
ajase-5514	122	2	i	i	NOUN
ajase-5514	122	3	)	)	PUNCT
ajase-5514	122	4	∀i	∀i	NOUN
ajase-5514	122	5	,	,	PUNCT
ajase-5514	122	6	j=1	j=1	NOUN
ajase-5514	122	7	,	,	PUNCT
ajase-5514	122	8	2∑2	2∑2	NUM
ajase-5514	122	9	(	(	PUNCT
ajase-5514	122	10	i=1	i=1	X
ajase-5514	122	11	)	)	PUNCT
ajase-5514	122	12	ρij	ρij	NOUN
ajase-5514	122	13	=	=	NOUN
ajase-5514	122	14	1	1	NUM
ajase-5514	122	15	(	(	PUNCT
ajase-5514	122	16	3	3	NUM
ajase-5514	122	17	)	)	PUNCT
ajase-5514	122	18	matrix	matrix	NOUN
ajase-5514	122	19	p	p	NOUN
ajase-5514	122	20	captures	capture	VERB
ajase-5514	122	21	the	the	DET
ajase-5514	122	22	probability	probability	NOUN
ajase-5514	122	23	of	of	ADP
ajase-5514	122	24	switching	switching	NOUN
ajase-5514	122	25	which	which	PRON
ajase-5514	122	26	is	be	AUX
ajase-5514	122	27	known	know	VERB
ajase-5514	122	28	as	as	ADP
ajase-5514	122	29	a	a	DET
ajase-5514	122	30	transition	transition	NOUN
ajase-5514	122	31	matrix	matrix	NOUN
ajase-5514	122	32	;	;	PUNCT
ajase-5514	122	33	(	(	PUNCT
ajase-5514	122	34	4	4	X
ajase-5514	122	35	)	)	PUNCT
ajase-5514	122	36	the	the	DET
ajase-5514	122	37	second	second	ADJ
ajase-5514	122	38	element	element	NOUN
ajase-5514	122	39	of	of	ADP
ajase-5514	122	40	the	the	DET
ajase-5514	122	41	numerator	numerator	NOUN
ajase-5514	122	42	is	be	AUX
ajase-5514	122	43	simply	simply	ADV
ajase-5514	122	44	the	the	DET
ajase-5514	122	45	previously	previously	ADV
ajase-5514	122	46	mentioned	mention	VERB
ajase-5514	122	47	initial	initial	ADJ
ajase-5514	122	48	probability	probability	NOUN
ajase-5514	122	49	of	of	ADP
ajase-5514	122	50	the	the	DET
ajase-5514	122	51	markov	markov	NOUN
ajase-5514	122	52	chain	chain	NOUN
ajase-5514	122	53	,	,	PUNCT
ajase-5514	122	54	i.e.	i.e.	X
ajase-5514	122	55	pr	pr	X
ajase-5514	122	56	(	(	PUNCT
ajase-5514	122	57	s1	s1	PROPN
ajase-5514	122	58	=	=	SYM
ajase-5514	122	59	i)=πi	i)=πi	PROPN
ajase-5514	122	60	,	,	PUNCT
ajase-5514	122	61	and	and	CCONJ
ajase-5514	122	62	it	it	PRON
ajase-5514	122	63	will	will	AUX
ajase-5514	122	64	henceforth	henceforth	ADV
ajase-5514	122	65	be	be	AUX
ajase-5514	122	66	denoted	denote	VERB
ajase-5514	122	67	as	as	ADP
ajase-5514	122	68	such	such	ADJ
ajase-5514	122	69	.	.	PUNCT
ajase-5514	123	1	one	one	PRON
ajase-5514	123	2	can	can	AUX
ajase-5514	123	3	at	at	ADP
ajase-5514	123	4	this	this	DET
ajase-5514	123	5	point	point	NOUN
ajase-5514	123	6	notice	notice	VERB
ajase-5514	123	7	that	that	SCONJ
ajase-5514	123	8	α(i,1	α(i,1	PROPN
ajase-5514	123	9	)	)	PUNCT
ajase-5514	123	10	is	be	AUX
ajase-5514	123	11	the	the	DET
ajase-5514	123	12	normalized	normalize	VERB
ajase-5514	123	13	value	value	NOUN
ajase-5514	123	14	of	of	ADP
ajase-5514	123	15	the	the	DET
ajase-5514	123	16	product	product	NOUN
ajase-5514	123	17	between	between	ADP
ajase-5514	123	18	the	the	DET
ajase-5514	123	19	initial	initial	ADJ
ajase-5514	123	20	probability	probability	NOUN
ajase-5514	123	21	and	and	CCONJ
ajase-5514	123	22	the	the	DET
ajase-5514	123	23	conditional	conditional	ADJ
ajase-5514	123	24	probability	probability	NOUN
ajase-5514	123	25	function	function	NOUN
ajase-5514	123	26	f(y1	f(y1	NOUN
ajase-5514	123	27	|s1	|s1	NOUN
ajase-5514	123	28	=	=	NOUN
ajase-5514	123	29	i	i	NOUN
ajase-5514	123	30	)	)	PUNCT
ajase-5514	123	31	,	,	PUNCT
ajase-5514	123	32	and	and	CCONJ
ajase-5514	123	33	can	can	AUX
ajase-5514	123	34	therefore	therefore	ADV
ajase-5514	123	35	be	be	AUX
ajase-5514	123	36	written	write	VERB
ajase-5514	123	37	as	as	SCONJ
ajase-5514	123	38	follows	follow	VERB
ajase-5514	123	39	:	:	PUNCT
ajase-5514	123	40	where	where	SCONJ
ajase-5514	123	41	p11+p21=1	p11+p21=1	PROPN
ajase-5514	123	42	,	,	PUNCT
ajase-5514	123	43	and	and	CCONJ
ajase-5514	123	44	p12+p22=1	p12+p22=1	VERB
ajase-5514	123	45	the	the	DET
ajase-5514	123	46	nearer	near	ADJ
ajase-5514	123	47	the	the	DET
ajase-5514	123	48	probability	probability	NOUN
ajase-5514	123	49	ρij	ρij	NOUN
ajase-5514	123	50	is	be	AUX
ajase-5514	123	51	to	to	ADP
ajase-5514	123	52	one	one	NUM
ajase-5514	123	53	the	the	PRON
ajase-5514	123	54	longer	long	ADV
ajase-5514	123	55	it	it	PRON
ajase-5514	123	56	takes	take	VERB
ajase-5514	123	57	to	to	PART
ajase-5514	123	58	shift	shift	VERB
ajase-5514	123	59	to	to	ADP
ajase-5514	123	60	the	the	DET
ajase-5514	123	61	next	next	ADJ
ajase-5514	123	62	regime	regime	NOUN
ajase-5514	123	63	.	.	PUNCT
ajase-5514	124	1	consider	consider	VERB
ajase-5514	124	2	the	the	DET
ajase-5514	124	3	model	model	NOUN
ajase-5514	124	4	given	give	VERB
ajase-5514	124	5	by	by	ADP
ajase-5514	124	6	equation	equation	NOUN
ajase-5514	124	7	(	(	PUNCT
ajase-5514	124	8	2	2	NUM
ajase-5514	124	9	)	)	PUNCT
ajase-5514	124	10	,	,	PUNCT
ajase-5514	124	11	i.e.	i.e.	X
ajase-5514	124	12	a	a	DET
ajase-5514	124	13	markov	markov	NOUN
ajase-5514	124	14	regime	regime	NOUN
ajase-5514	124	15	-	-	PUNCT
ajase-5514	124	16	switching	switch	VERB
ajase-5514	124	17	model	model	NOUN
ajase-5514	124	18	with	with	ADP
ajase-5514	124	19	2	2	NUM
ajase-5514	124	20	-	-	PUNCT
ajase-5514	124	21	regimes	regime	NOUN
ajase-5514	124	22	.	.	PUNCT
ajase-5514	125	1	the	the	DET
ajase-5514	125	2	estimation	estimation	NOUN
ajase-5514	125	3	will	will	AUX
ajase-5514	125	4	be	be	AUX
ajase-5514	125	5	performed	perform	VERB
ajase-5514	125	6	using	use	VERB
ajase-5514	125	7	hamilton	hamilton	PROPN
ajase-5514	125	8	’s	’s	PART
ajase-5514	125	9	filter	filter	NOUN
ajase-5514	125	10	,	,	PUNCT
ajase-5514	125	11	where	where	SCONJ
ajase-5514	125	12	the	the	DET
ajase-5514	125	13	main	main	ADJ
ajase-5514	125	14	idea	idea	NOUN
ajase-5514	125	15	is	be	AUX
ajase-5514	125	16	to	to	PART
ajase-5514	125	17	calculate	calculate	VERB
ajase-5514	125	18	each	each	DET
ajase-5514	125	19	state	state	NOUN
ajase-5514	125	20	’s	’s	PART
ajase-5514	125	21	filter	filter	NOUN
ajase-5514	125	22	probabilities	probability	NOUN
ajase-5514	125	23	by	by	ADP
ajase-5514	125	24	making	make	VERB
ajase-5514	125	25	inferences	inference	NOUN
ajase-5514	125	26	on	on	ADP
ajase-5514	125	27	each	each	DET
ajase-5514	125	28	state	state	NOUN
ajase-5514	125	29	’s	’s	PART
ajase-5514	125	30	unknown	unknown	ADJ
ajase-5514	125	31	probabilities	probability	NOUN
ajase-5514	125	32	based	base	VERB
ajase-5514	125	33	on	on	ADP
ajase-5514	125	34	the	the	DET
ajase-5514	125	35	available	available	ADJ
ajase-5514	125	36	information	information	NOUN
ajase-5514	125	37	.	.	PUNCT
ajase-5514	126	1	when	when	SCONJ
ajase-5514	126	2	the	the	DET
ajase-5514	126	3	filter	filter	NOUN
ajase-5514	126	4	probabilities	probability	NOUN
ajase-5514	126	5	are	be	AUX
ajase-5514	126	6	obtained	obtain	VERB
ajase-5514	126	7	,	,	PUNCT
ajase-5514	126	8	we	we	PRON
ajase-5514	126	9	have	have	VERB
ajase-5514	126	10	the	the	DET
ajase-5514	126	11	probabilities	probability	NOUN
ajase-5514	126	12	one	one	NUM
ajase-5514	126	13	needs	need	VERB
ajase-5514	126	14	for	for	ADP
ajase-5514	126	15	calculating	calculate	VERB
ajase-5514	126	16	the	the	DET
ajase-5514	126	17	log	log	NOUN
ajase-5514	126	18	likelihood	likelihood	NOUN
ajase-5514	126	19	of	of	ADP
ajase-5514	126	20	the	the	DET
ajase-5514	126	21	model	model	NOUN
ajase-5514	126	22	.	.	PUNCT
ajase-5514	127	1	subsequently	subsequently	ADV
ajase-5514	127	2	,	,	PUNCT
ajase-5514	127	3	the	the	DET
ajase-5514	127	4	estimation	estimation	NOUN
ajase-5514	127	5	of	of	ADP
ajase-5514	127	6	the	the	DET
ajase-5514	127	7	model	model	NOUN
ajase-5514	127	8	filter	filter	NOUN
ajase-5514	127	9	probabilities	probability	NOUN
ajase-5514	127	10	are	be	AUX
ajase-5514	127	11	discussed	discuss	VERB
ajase-5514	127	12	.	.	PUNCT
ajase-5514	128	1	the	the	DET
ajase-5514	128	2	model	model	NOUN
ajase-5514	128	3	’s	’s	PART
ajase-5514	128	4	filter	filter	NOUN
ajase-5514	128	5	probabilities	probability	NOUN
ajase-5514	128	6	are	be	AUX
ajase-5514	128	7	calculated	calculate	VERB
ajase-5514	128	8	by	by	ADP
ajase-5514	128	9	utilizing	utilize	VERB
ajase-5514	128	10	the	the	DET
ajase-5514	128	11	model	model	NOUN
ajase-5514	128	12	’s	’s	PART
ajase-5514	128	13	iterative	iterative	NOUN
ajase-5514	128	14	relations	relation	NOUN
ajase-5514	128	15	by	by	ADP
ajase-5514	128	16	means	mean	NOUN
ajase-5514	128	17	of	of	ADP
ajase-5514	128	18	recursion	recursion	NOUN
ajase-5514	128	19	.	.	PUNCT
ajase-5514	129	1	this	this	PRON
ajase-5514	129	2	can	can	AUX
ajase-5514	129	3	be	be	AUX
ajase-5514	129	4	done	do	VERB
ajase-5514	129	5	using	use	VERB
ajase-5514	129	6	a	a	DET
ajase-5514	129	7	combination	combination	NOUN
ajase-5514	129	8	of	of	ADP
ajase-5514	129	9	the	the	DET
ajase-5514	129	10	relation	relation	NOUN
ajase-5514	129	11	between	between	ADP
ajase-5514	129	12	observations	observation	NOUN
ajase-5514	129	13	and	and	CCONJ
ajase-5514	129	14	hidden	hidden	ADJ
ajase-5514	129	15	states	state	NOUN
ajase-5514	129	16	,	,	PUNCT
ajase-5514	129	17	and	and	CCONJ
ajase-5514	129	18	the	the	DET
ajase-5514	129	19	endogenous	endogenous	ADJ
ajase-5514	129	20	relation	relation	NOUN
ajase-5514	129	21	between	between	ADP
ajase-5514	129	22	hidden	hide	VERB
ajase-5514	129	23	states	state	NOUN
ajase-5514	129	24	.	.	PUNCT
ajase-5514	130	1	begin	begin	VERB
ajase-5514	130	2	from	from	ADP
ajase-5514	130	3	the	the	DET
ajase-5514	130	4	starting	starting	NOUN
ajase-5514	130	5	value	value	NOUN
ajase-5514	130	6	in	in	ADP
ajase-5514	130	7	our	our	PRON
ajase-5514	130	8	recursion	recursion	NOUN
ajase-5514	130	9	,	,	PUNCT
ajase-5514	130	10	i.e.	i.e.	X
ajase-5514	130	11	with	with	ADP
ajase-5514	130	12	the	the	DET
ajase-5514	130	13	probability	probability	NOUN
ajase-5514	130	14	of	of	ADP
ajase-5514	130	15	being	be	AUX
ajase-5514	130	16	in	in	ADP
ajase-5514	130	17	state	state	NOUN
ajase-5514	130	18	i	i	PRON
ajase-5514	130	19	at	at	ADP
ajase-5514	130	20	time	time	NOUN
ajase-5514	130	21	t	t	NOUN
ajase-5514	130	22	=	=	SYM
ajase-5514	130	23	1	1	NUM
ajase-5514	130	24	:	:	PUNCT
ajase-5514	130	25	now	now	ADV
ajase-5514	130	26	,	,	PUNCT
ajase-5514	130	27	assume	assume	VERB
ajase-5514	130	28	that	that	SCONJ
ajase-5514	130	29	we	we	PRON
ajase-5514	130	30	know	know	VERB
ajase-5514	130	31	the	the	DET
ajase-5514	130	32	filter	filter	NOUN
ajase-5514	130	33	probability	probability	NOUN
ajase-5514	130	34	at	at	ADP
ajase-5514	130	35	time	time	NOUN
ajase-5514	130	36	t-1	t-1	PROPN
ajase-5514	130	37	,	,	PUNCT
ajase-5514	130	38	namely	namely	ADV
ajase-5514	130	39	α(i	α(i	PROPN
ajase-5514	130	40	,	,	PUNCT
ajase-5514	130	41	t-1	t-1	PROPN
ajase-5514	130	42	)	)	PUNCT
ajase-5514	130	43	.	.	PUNCT
ajase-5514	131	1	following	follow	VERB
ajase-5514	131	2	the	the	DET
ajase-5514	131	3	same	same	ADJ
ajase-5514	131	4	strategy	strategy	NOUN
ajase-5514	131	5	as	as	ADP
ajase-5514	131	6	for	for	ADP
ajase-5514	131	7	t=1	t=1	ADV
ajase-5514	131	8	leads	lead	VERB
ajase-5514	131	9	to	to	ADP
ajase-5514	131	10	the	the	DET
ajase-5514	131	11	following	follow	VERB
ajase-5514	131	12	recursion	recursion	NOUN
ajase-5514	131	13	:	:	PUNCT
ajase-5514	131	14	data	datum	NOUN
ajase-5514	131	15	source	source	NOUN
ajase-5514	131	16	:	:	PUNCT
ajase-5514	131	17	simulation	simulation	NOUN
ajase-5514	131	18	setups	setup	NOUN
ajase-5514	131	19	to	to	PART
ajase-5514	131	20	demonstrate	demonstrate	VERB
ajase-5514	131	21	the	the	DET
ajase-5514	131	22	main	main	ADJ
ajase-5514	131	23	idea	idea	NOUN
ajase-5514	131	24	behind	behind	ADP
ajase-5514	131	25	the	the	DET
ajase-5514	131	26	developed	develop	VERB
ajase-5514	131	27	neural	neural	ADJ
ajase-5514	131	28	network	network	NOUN
ajase-5514	131	29	state	state	NOUN
ajase-5514	131	30	switching	switching	NOUN
ajase-5514	131	31	models	model	NOUN
ajase-5514	131	32	towards	towards	ADP
ajase-5514	131	33	enhancement	enhancement	NOUN
ajase-5514	131	34	of	of	ADP
ajase-5514	131	35	the	the	DET
ajase-5514	131	36	prediction	prediction	NOUN
ajase-5514	131	37	level	level	NOUN
ajase-5514	131	38	of	of	ADP
ajase-5514	131	39	nonlinear	nonlinear	ADJ
ajase-5514	131	40	time	time	NOUN
ajase-5514	131	41	series	series	PROPN
ajase-5514	131	42	data	datum	NOUN
ajase-5514	131	43	such	such	ADJ
ajase-5514	131	44	as	as	ADP
ajase-5514	131	45	market	market	NOUN
ajase-5514	131	46	returns	return	NOUN
ajase-5514	131	47	particularly	particularly	ADV
ajase-5514	131	48	in	in	ADP
ajase-5514	131	49	small	small	ADJ
ajase-5514	131	50	sample	sample	NOUN
ajase-5514	131	51	sizes	size	NOUN
ajase-5514	131	52	,	,	PUNCT
ajase-5514	131	53	we	we	PRON
ajase-5514	131	54	consider	consider	VERB
ajase-5514	131	55	a	a	DET
ajase-5514	131	56	two	two	NUM
ajase-5514	131	57	states	state	NOUN
ajase-5514	131	58	(	(	PUNCT
ajase-5514	131	59	regimes	regime	NOUN
ajase-5514	131	60	)	)	PUNCT
ajase-5514	131	61	model	model	NOUN
ajase-5514	131	62	demonstrating	demonstrate	VERB
ajase-5514	131	63	the	the	DET
ajase-5514	131	64	bull	bull	NOUN
ajase-5514	131	65	and	and	CCONJ
ajase-5514	131	66	bear	bear	VERB
ajase-5514	131	67	regimes	regime	NOUN
ajase-5514	131	68	of	of	ADP
ajase-5514	131	69	daily	daily	ADJ
ajase-5514	131	70	market	market	NOUN
ajase-5514	131	71	returns	return	NOUN
ajase-5514	131	72	.	.	PUNCT
ajase-5514	132	1	y(t=1)=μ1+ϵt	y(t=1)=μ1+ϵt	NOUN
ajase-5514	132	2	;	;	PUNCT
ajase-5514	132	3	where	where	SCONJ
ajase-5514	132	4	ϵt~(n	ϵt~(n	PROPN
ajase-5514	132	5	,	,	PUNCT
ajase-5514	132	6	σ2	σ2	NOUN
ajase-5514	132	7	1	1	NUM
ajase-5514	132	8	)	)	PUNCT
ajase-5514	132	9	for	for	ADP
ajase-5514	132	10	state	state	NOUN
ajase-5514	132	11	1	1	NUM
ajase-5514	132	12	y(t=2)=μ2+ϵt	y(t=2)=μ2+ϵt	NOUN
ajase-5514	132	13	;	;	PUNCT
ajase-5514	132	14	where	where	SCONJ
ajase-5514	132	15	ϵt~(n	ϵt~(n	PROPN
ajase-5514	132	16	,	,	PUNCT
ajase-5514	132	17	σ2	σ2	NOUN
ajase-5514	132	18	2	2	NUM
ajase-5514	132	19	)	)	PUNCT
ajase-5514	132	20	for	for	ADP
ajase-5514	132	21	state	state	NOUN
ajase-5514	132	22	2	2	NUM
ajase-5514	132	23	parameters	parameter	NOUN
ajase-5514	132	24	settings	setting	NOUN
ajase-5514	132	25	μ1=	μ1=	PROPN
ajase-5514	132	26	0.01	0.01	NUM
ajase-5514	132	27	;	;	PUNCT
ajase-5514	132	28	is	be	AUX
ajase-5514	132	29	the	the	DET
ajase-5514	132	30	mean	mean	ADJ
ajase-5514	132	31	returns	return	NOUN
ajase-5514	132	32	of	of	ADP
ajase-5514	132	33	bull	bull	NOUN
ajase-5514	132	34	regime	regime	NOUN
ajase-5514	132	35	,	,	PUNCT
ajase-5514	132	36	μ2=	μ2=	PROPN
ajase-5514	132	37	-0.02	-0.02	NUM
ajase-5514	132	38	;	;	PUNCT
ajase-5514	132	39	is	be	AUX
ajase-5514	132	40	the	the	DET
ajase-5514	132	41	mean	mean	ADJ
ajase-5514	132	42	returns	return	NOUN
ajase-5514	132	43	of	of	ADP
ajase-5514	132	44	bear	bear	NOUN
ajase-5514	132	45	regime	regime	NOUN
ajase-5514	132	46	,	,	PUNCT
ajase-5514	132	47	σ1=	σ1=	NOUN
ajase-5514	132	48	0.05	0.05	NUM
ajase-5514	132	49	;	;	PUNCT
ajase-5514	132	50	is	be	AUX
ajase-5514	132	51	the	the	DET
ajase-5514	132	52	standard	standard	ADJ
ajase-5514	132	53	deviation	deviation	NOUN
ajase-5514	132	54	of	of	ADP
ajase-5514	132	55	bull	bull	NOUN
ajase-5514	132	56	regime	regime	NOUN
ajase-5514	132	57	of	of	ADP
ajase-5514	132	58	the	the	DET
ajase-5514	132	59	market	market	NOUN
ajase-5514	132	60	returns	return	NOUN
ajase-5514	132	61	,	,	PUNCT
ajase-5514	132	62	σ2=	σ2=	NOUN
ajase-5514	132	63	0.1	0.1	NUM
ajase-5514	132	64	;	;	PUNCT
ajase-5514	132	65	is	be	AUX
ajase-5514	132	66	the	the	DET
ajase-5514	132	67	standard	standard	ADJ
ajase-5514	132	68	deviation	deviation	NOUN
ajase-5514	132	69	of	of	ADP
ajase-5514	132	70	bear	bear	NOUN
ajase-5514	132	71	regime	regime	NOUN
ajase-5514	132	72	of	of	ADP
ajase-5514	132	73	the	the	DET
ajase-5514	132	74	market	market	NOUN
ajase-5514	132	75	returns	return	NOUN
ajase-5514	132	76	,	,	PUNCT
ajase-5514	132	77	matrix(c(0.9,0.1,0.2,0.8)=	matrix(c(0.9,0.1,0.2,0.8)=	PROPN
ajase-5514	132	78	is	be	AUX
ajase-5514	132	79	the	the	DET
ajase-5514	132	80	transition	transition	NOUN
ajase-5514	132	81	matrix	matrix	NOUN
ajase-5514	132	82	for	for	ADP
ajase-5514	132	83	the	the	DET
ajase-5514	132	84	aforementioned	aforementioned	ADJ
ajase-5514	132	85	regimes	regime	NOUN
ajase-5514	132	86	,	,	PUNCT
ajase-5514	132	87	t	t	PROPN
ajase-5514	132	88	=	=	SYM
ajase-5514	132	89	n	n	X
ajase-5514	132	90	is	be	AUX
ajase-5514	132	91	categories	category	NOUN
ajase-5514	132	92	of	of	ADP
ajase-5514	132	93	small	small	ADJ
ajase-5514	132	94	sample	sample	NOUN
ajase-5514	132	95	sizes	size	NOUN
ajase-5514	132	96	sets	set	VERB
ajase-5514	132	97	at	at	ADP
ajase-5514	132	98	30	30	NUM
ajase-5514	132	99	,	,	PUNCT
ajase-5514	132	100	50	50	NUM
ajase-5514	132	101	,	,	PUNCT
ajase-5514	132	102	70	70	NUM
ajase-5514	132	103	,	,	PUNCT
ajase-5514	132	104	and	and	CCONJ
ajase-5514	132	105	100	100	NUM
ajase-5514	132	106	.	.	PUNCT
ajase-5514	132	107	number	number	NOUN
ajase-5514	132	108	of	of	ADP
ajase-5514	132	109	replication	replication	NOUN
ajase-5514	132	110	r	r	NOUN
ajase-5514	132	111	=	=	SYM
ajase-5514	132	112	1000times	1000time	NOUN
ajase-5514	132	113	.	.	PUNCT
ajase-5514	133	1	models	model	NOUN
ajase-5514	133	2	’	'	PUNCT
ajase-5514	133	3	estimation	estimation	NOUN
ajase-5514	133	4	procedure	procedure	NOUN
ajase-5514	133	5	and	and	CCONJ
ajase-5514	133	6	prediction	prediction	NOUN
ajase-5514	133	7	performance	performance	NOUN
ajase-5514	133	8	evaluation	evaluation	NOUN
ajase-5514	133	9	prior	prior	ADV
ajase-5514	133	10	to	to	ADP
ajase-5514	133	11	the	the	DET
ajase-5514	133	12	estimation	estimation	NOUN
ajase-5514	133	13	of	of	ADP
ajase-5514	133	14	proposed	propose	VERB
ajase-5514	133	15	neural	neural	ADJ
ajase-5514	133	16	network	network	NOUN
ajase-5514	133	17	state	state	NOUN
ajase-5514	133	18	switching	switching	NOUN
ajase-5514	133	19	models	model	NOUN
ajase-5514	133	20	(	(	PUNCT
ajase-5514	133	21	i.e.	i.e.	X
ajase-5514	133	22	rnnssm	rnnssm	NOUN
ajase-5514	133	23	,	,	PUNCT
ajase-5514	133	24	grnnssm	grnnssm	NOUN
ajase-5514	133	25	,	,	PUNCT
ajase-5514	133	26	rbfssm	rbfssm	ADJ
ajase-5514	133	27	and	and	CCONJ
ajase-5514	133	28	mlpssm	mlpssm	NOUN
ajase-5514	133	29	)	)	PUNCT
ajase-5514	133	30	against	against	ADP
ajase-5514	133	31	the	the	DET
ajase-5514	133	32	traditional	traditional	ADJ
ajase-5514	133	33	markov	markov	NOUN
ajase-5514	133	34	state	state	NOUN
ajase-5514	133	35	switching	switching	NOUN
ajase-5514	133	36	model	model	NOUN
ajase-5514	133	37	(	(	PUNCT
ajase-5514	133	38	ssm	ssm	PROPN
ajase-5514	133	39	)	)	PUNCT
ajase-5514	133	40	,	,	PUNCT
ajase-5514	133	41	the	the	DET
ajase-5514	133	42	simulated	simulated	ADJ
ajase-5514	133	43	market	market	NOUN
ajase-5514	133	44	returns	return	NOUN
ajase-5514	133	45	(	(	PUNCT
ajase-5514	133	46	yt	yt	NOUN
ajase-5514	133	47	)	)	PUNCT
ajase-5514	133	48	are	be	AUX
ajase-5514	133	49	tested	test	VERB
ajase-5514	133	50	for	for	ADP
ajase-5514	133	51	nonlinear	nonlinear	ADJ
ajase-5514	133	52	modelling	modelling	ADJ
ajase-5514	133	53	suitability	suitability	NOUN
ajase-5514	133	54	.	.	PUNCT
ajase-5514	134	1	nonlinear	nonlinear	ADJ
ajase-5514	134	2	models	model	NOUN
ajase-5514	134	3	are	be	AUX
ajase-5514	134	4	employed	employ	VERB
ajase-5514	134	5	where	where	SCONJ
ajase-5514	134	6	the	the	DET
ajase-5514	134	7	financial	financial	ADJ
ajase-5514	134	8	system	system	NOUN
ajase-5514	134	9	suggests	suggest	VERB
ajase-5514	134	10	nonlinearity	nonlinearity	NOUN
ajase-5514	134	11	in	in	ADP
ajase-5514	134	12	the	the	DET
ajase-5514	134	13	system	system	NOUN
ajase-5514	134	14	(	(	PUNCT
ajase-5514	134	15	adejumo	adejumo	NOUN
ajase-5514	134	16	et	et	PROPN
ajase-5514	134	17	al	al	PROPN
ajase-5514	134	18	.	.	PROPN
ajase-5514	134	19	,	,	PUNCT
ajase-5514	134	20	2020	2020	NUM
ajase-5514	134	21	;	;	PUNCT
ajase-5514	134	22	mendy	mendy	PROPN
ajase-5514	134	23	&	&	CCONJ
ajase-5514	134	24	widodo	widodo	PROPN
ajase-5514	134	25	,	,	PUNCT
ajase-5514	134	26	2018	2018	NUM
ajase-5514	134	27	)	)	PUNCT
ajase-5514	134	28	.	.	PUNCT
ajase-5514	135	1	we	we	PRON
ajase-5514	135	2	utilized	utilize	VERB
ajase-5514	135	3	the	the	DET
ajase-5514	135	4	most	most	ADV
ajase-5514	135	5	widely	widely	ADV
ajase-5514	135	6	used	use	VERB
ajase-5514	135	7	tests	test	NOUN
ajase-5514	135	8	known	know	VERB
ajase-5514	135	9	as	as	ADP
ajase-5514	135	10	bds	bds	NOUN
ajase-5514	135	11	test	test	NOUN
ajase-5514	135	12	by	by	ADP
ajase-5514	135	13	brock	brock	PROPN
ajase-5514	135	14	,	,	PUNCT
ajase-5514	135	15	dechert	dechert	NOUN
ajase-5514	135	16	and	and	CCONJ
ajase-5514	135	17	scheinkman	scheinkman	NOUN
ajase-5514	135	18	.	.	PUNCT
ajase-5514	136	1	also	also	ADV
ajase-5514	136	2	,	,	PUNCT
ajase-5514	136	3	the	the	DET
ajase-5514	136	4	simulated	simulate	VERB
ajase-5514	136	5	returns	return	NOUN
ajase-5514	136	6	were	be	AUX
ajase-5514	136	7	tested	test	VERB
ajase-5514	136	8	for	for	ADP
ajase-5514	136	9	stationarity	stationarity	NOUN
ajase-5514	136	10	and	and	CCONJ
ajase-5514	136	11	presence	presence	NOUN
ajase-5514	136	12	of	of	ADP
ajase-5514	136	13	volatility	volatility	NOUN
ajase-5514	136	14	using	use	VERB
ajase-5514	136	15	augmented	augment	VERB
ajase-5514	136	16	dickeyfuller	dickeyfuller	NOUN
ajase-5514	136	17	(	(	PUNCT
ajase-5514	136	18	adf	adf	NOUN
ajase-5514	136	19	)	)	PUNCT
ajase-5514	136	20	test	test	NOUN
ajase-5514	136	21	and	and	CCONJ
ajase-5514	136	22	arch	arch	ADJ
ajase-5514	136	23	test	test	NOUN
ajase-5514	136	24	respectively	respectively	ADV
ajase-5514	136	25	.	.	PUNCT
ajase-5514	137	1	also	also	ADV
ajase-5514	137	2	,	,	PUNCT
ajase-5514	137	3	this	this	DET
ajase-5514	137	4	study	study	NOUN
ajase-5514	137	5	utilized	utilize	VERB
ajase-5514	137	6	the	the	DET
ajase-5514	137	7	frequently	frequently	ADV
ajase-5514	137	8	used	use	VERB
ajase-5514	137	9	model	model	NOUN
ajase-5514	137	10	selection	selection	NOUN
ajase-5514	137	11	principle	principle	NOUN
ajase-5514	137	12	akaike	akaike	ADP
ajase-5514	137	13	information	information	NOUN
ajase-5514	137	14	criterion	criterion	NOUN
ajase-5514	137	15	(	(	PUNCT
ajase-5514	137	16	aic	aic	PROPN
ajase-5514	137	17	)	)	PUNCT
ajase-5514	137	18	.	.	PUNCT
ajase-5514	138	1	aic	aic	PROPN
ajase-5514	138	2	=	=	PROPN
ajase-5514	138	3	t	t	PROPN
ajase-5514	138	4	ln(residual	ln(residual	ADJ
ajase-5514	138	5	sum	sum	NOUN
ajase-5514	138	6	of	of	ADP
ajase-5514	138	7	squares	square	NOUN
ajase-5514	138	8	)	)	PUNCT
ajase-5514	139	1	+	+	CCONJ
ajase-5514	139	2	2n	2n	NUM
ajase-5514	139	3	,	,	PUNCT
ajase-5514	139	4	where	where	SCONJ
ajase-5514	139	5	t	t	PROPN
ajase-5514	139	6	is	be	AUX
ajase-5514	139	7	pa	pa	PROPN
ajase-5514	139	8	ge	ge	PROPN
ajase-5514	139	9	98	98	NUM
ajase-5514	140	1	https://journals.e-palli.com/home/index.php/ajase	https://journals.e-palli.com/home/index.php/ajase	PROPN
ajase-5514	140	2	am	be	AUX
ajase-5514	140	3	.	.	PUNCT
ajase-5514	141	1	j.	j.	PROPN
ajase-5514	141	2	appl	appl	PROPN
ajase-5514	141	3	.	.	PROPN
ajase-5514	142	1	stat	stat	PROPN
ajase-5514	142	2	.	.	PUNCT
ajase-5514	143	1	econ	econ	PROPN
ajase-5514	143	2	.	.	PUNCT
ajase-5514	144	1	4(1	4(1	X
ajase-5514	144	2	)	)	PUNCT
ajase-5514	144	3	94	94	NUM
ajase-5514	144	4	-	-	SYM
ajase-5514	144	5	107	107	NUM
ajase-5514	144	6	,	,	PUNCT
ajase-5514	144	7	2025	2025	NUM
ajase-5514	144	8	the	the	DET
ajase-5514	144	9	numeral	numeral	ADJ
ajase-5514	144	10	of	of	ADP
ajase-5514	144	11	operational	operational	ADJ
ajase-5514	144	12	observations	observation	NOUN
ajase-5514	144	13	,	,	PUNCT
ajase-5514	144	14	while	while	SCONJ
ajase-5514	144	15	n	n	PRON
ajase-5514	144	16	is	be	AUX
ajase-5514	144	17	the	the	DET
ajase-5514	144	18	number	number	NOUN
ajase-5514	144	19	of	of	ADP
ajase-5514	144	20	parameters	parameter	NOUN
ajase-5514	144	21	to	to	PART
ajase-5514	144	22	be	be	AUX
ajase-5514	144	23	evaluated	evaluate	VERB
ajase-5514	144	24	.	.	PUNCT
ajase-5514	145	1	the	the	DET
ajase-5514	145	2	loglikelihood	loglikelihood	NOUN
ajase-5514	145	3	of	of	ADP
ajase-5514	145	4	the	the	DET
ajase-5514	145	5	fitted	fit	VERB
ajase-5514	145	6	model	model	NOUN
ajase-5514	145	7	was	be	AUX
ajase-5514	145	8	also	also	ADV
ajase-5514	145	9	utilized	utilize	VERB
ajase-5514	145	10	.	.	PUNCT
ajase-5514	146	1	hence	hence	ADV
ajase-5514	146	2	,	,	PUNCT
ajase-5514	146	3	the	the	DET
ajase-5514	146	4	outperform	outperform	NOUN
ajase-5514	146	5	model	model	NOUN
ajase-5514	146	6	is	be	AUX
ajase-5514	146	7	one	one	NUM
ajase-5514	146	8	with	with	ADP
ajase-5514	146	9	the	the	DET
ajase-5514	146	10	smallest	small	ADJ
ajase-5514	146	11	aic	aic	PROPN
ajase-5514	146	12	value	value	NOUN
ajase-5514	146	13	and	and	CCONJ
ajase-5514	146	14	highest	high	ADJ
ajase-5514	146	15	log	log	NOUN
ajase-5514	146	16	-	-	PUNCT
ajase-5514	146	17	likelihood	likelihood	NOUN
ajase-5514	146	18	.	.	PUNCT
ajase-5514	147	1	frequent	frequent	ADJ
ajase-5514	147	2	error	error	NOUN
ajase-5514	147	3	measures	measure	NOUN
ajase-5514	147	4	are	be	AUX
ajase-5514	147	5	available	available	ADJ
ajase-5514	147	6	for	for	ADP
ajase-5514	147	7	model	model	NOUN
ajase-5514	147	8	prediction	prediction	NOUN
ajase-5514	147	9	evaluation	evaluation	NOUN
ajase-5514	147	10	;	;	PUNCT
ajase-5514	147	11	we	we	PRON
ajase-5514	147	12	evaluate	evaluate	VERB
ajase-5514	147	13	the	the	DET
ajase-5514	147	14	prediction	prediction	NOUN
ajase-5514	147	15	ability	ability	NOUN
ajase-5514	147	16	of	of	ADP
ajase-5514	147	17	the	the	DET
ajase-5514	147	18	proposed	propose	VERB
ajase-5514	147	19	models	model	NOUN
ajase-5514	147	20	against	against	ADP
ajase-5514	147	21	the	the	DET
ajase-5514	147	22	markov	markov	NOUN
ajase-5514	147	23	state	state	NOUN
ajase-5514	147	24	switching	switch	VERB
ajase-5514	147	25	model	model	NOUN
ajase-5514	147	26	by	by	ADP
ajase-5514	147	27	means	mean	NOUN
ajase-5514	147	28	of	of	ADP
ajase-5514	147	29	several	several	ADJ
ajase-5514	147	30	performance	performance	NOUN
ajase-5514	147	31	measures	measure	NOUN
ajase-5514	147	32	such	such	ADJ
ajase-5514	147	33	as	as	ADP
ajase-5514	147	34	root	root	NOUN
ajase-5514	147	35	mean	mean	ADJ
ajase-5514	147	36	square	square	ADJ
ajase-5514	147	37	error	error	NOUN
ajase-5514	147	38	(	(	PUNCT
ajase-5514	147	39	rmse	rmse	NOUN
ajase-5514	147	40	)	)	PUNCT
ajase-5514	147	41	and	and	CCONJ
ajase-5514	147	42	mean	mean	VERB
ajase-5514	147	43	absolute	absolute	ADJ
ajase-5514	147	44	error	error	NOUN
ajase-5514	147	45	(	(	PUNCT
ajase-5514	147	46	mae	mae	PROPN
ajase-5514	147	47	)	)	PUNCT
ajase-5514	147	48	.	.	PUNCT
ajase-5514	148	1	results	result	NOUN
ajase-5514	148	2	and	and	CCONJ
ajase-5514	148	3	discussion	discussion	NOUN
ajase-5514	148	4	simulated	simulate	VERB
ajase-5514	148	5	data	datum	NOUN
ajase-5514	148	6	presentation	presentation	NOUN
ajase-5514	148	7	and	and	CCONJ
ajase-5514	148	8	preliminary	preliminary	ADJ
ajase-5514	148	9	assessment	assessment	NOUN
ajase-5514	148	10	this	this	DET
ajase-5514	148	11	section	section	NOUN
ajase-5514	148	12	presents	present	VERB
ajase-5514	148	13	and	and	CCONJ
ajase-5514	148	14	discusses	discuss	VERB
ajase-5514	148	15	the	the	DET
ajase-5514	148	16	summary	summary	NOUN
ajase-5514	148	17	statistics	statistic	NOUN
ajase-5514	148	18	and	and	CCONJ
ajase-5514	148	19	some	some	DET
ajase-5514	148	20	time	time	NOUN
ajase-5514	148	21	series	series	PROPN
ajase-5514	148	22	features	feature	NOUN
ajase-5514	148	23	of	of	ADP
ajase-5514	148	24	simulated	simulated	ADJ
ajase-5514	148	25	market	market	NOUN
ajase-5514	148	26	returns	return	NOUN
ajase-5514	148	27	data	datum	NOUN
ajase-5514	148	28	.	.	PUNCT
ajase-5514	149	1	figure	figure	NOUN
ajase-5514	149	2	2	2	NUM
ajase-5514	149	3	and	and	CCONJ
ajase-5514	149	4	fig	fig	NOUN
ajase-5514	149	5	3	3	NUM
ajase-5514	149	6	reveal	reveal	VERB
ajase-5514	149	7	the	the	DET
ajase-5514	149	8	time	time	NOUN
ajase-5514	149	9	series	series	NOUN
ajase-5514	149	10	trend	trend	NOUN
ajase-5514	149	11	plots	plot	NOUN
ajase-5514	149	12	and	and	CCONJ
ajase-5514	149	13	the	the	DET
ajase-5514	149	14	regimes	regime	NOUN
ajase-5514	149	15	plots	plot	NOUN
ajase-5514	149	16	of	of	ADP
ajase-5514	149	17	the	the	DET
ajase-5514	149	18	simulated	simulate	VERB
ajase-5514	149	19	daily	daily	ADJ
ajase-5514	149	20	market	market	NOUN
ajase-5514	149	21	returns	return	NOUN
ajase-5514	149	22	.	.	PUNCT
ajase-5514	150	1	explicitly	explicitly	ADV
ajase-5514	150	2	,	,	PUNCT
ajase-5514	150	3	fig	fig	NOUN
ajase-5514	150	4	2	2	NUM
ajase-5514	150	5	depicts	depict	VERB
ajase-5514	150	6	the	the	DET
ajase-5514	150	7	time	time	NOUN
ajase-5514	150	8	series	series	NOUN
ajase-5514	150	9	and	and	CCONJ
ajase-5514	150	10	regimes	regime	NOUN
ajase-5514	150	11	plots	plot	NOUN
ajase-5514	150	12	of	of	ADP
ajase-5514	150	13	simulated	simulate	VERB
ajase-5514	150	14	daily	daily	ADJ
ajase-5514	150	15	market	market	NOUN
ajase-5514	150	16	returns	return	NOUN
ajase-5514	150	17	of	of	ADP
ajase-5514	150	18	sample	sample	NOUN
ajase-5514	150	19	sizes	size	NOUN
ajase-5514	150	20	30	30	NUM
ajase-5514	150	21	and	and	CCONJ
ajase-5514	150	22	50	50	NUM
ajase-5514	150	23	while	while	SCONJ
ajase-5514	150	24	fig	fig	NOUN
ajase-5514	150	25	3	3	NUM
ajase-5514	150	26	shows	show	VERB
ajase-5514	150	27	the	the	DET
ajase-5514	150	28	time	time	NOUN
ajase-5514	150	29	series	series	NOUN
ajase-5514	150	30	and	and	CCONJ
ajase-5514	150	31	regimes	regime	NOUN
ajase-5514	150	32	plots	plot	NOUN
ajase-5514	150	33	of	of	ADP
ajase-5514	150	34	simulated	simulate	VERB
ajase-5514	150	35	daily	daily	ADJ
ajase-5514	150	36	market	market	NOUN
ajase-5514	150	37	returns	return	NOUN
ajase-5514	150	38	of	of	ADP
ajase-5514	150	39	sample	sample	NOUN
ajase-5514	150	40	sizes	size	NOUN
ajase-5514	150	41	70	70	NUM
ajase-5514	150	42	and	and	CCONJ
ajase-5514	150	43	100	100	NUM
ajase-5514	150	44	.	.	PUNCT
ajase-5514	151	1	as	as	SCONJ
ajase-5514	151	2	observed	observe	VERB
ajase-5514	151	3	,	,	PUNCT
ajase-5514	151	4	all	all	DET
ajase-5514	151	5	the	the	DET
ajase-5514	151	6	sample	sample	NOUN
ajase-5514	151	7	sizes	size	NOUN
ajase-5514	151	8	’	'	PUNCT
ajase-5514	151	9	time	time	NOUN
ajase-5514	151	10	series	series	NOUN
ajase-5514	151	11	trend	trend	NOUN
ajase-5514	151	12	plots	plot	VERB
ajase-5514	151	13	depict	depict	VERB
ajase-5514	151	14	relative	relative	ADJ
ajase-5514	151	15	stationarity	stationarity	NOUN
ajase-5514	151	16	i.e.	i.e.	X
ajase-5514	151	17	constant	constant	ADJ
ajase-5514	151	18	means	mean	NOUN
ajase-5514	151	19	,	,	PUNCT
ajase-5514	151	20	variances	variance	NOUN
ajase-5514	151	21	and	and	CCONJ
ajase-5514	151	22	autocorrelation	autocorrelation	NOUN
ajase-5514	151	23	however	however	ADV
ajase-5514	151	24	relative	relative	ADJ
ajase-5514	151	25	to	to	ADP
ajase-5514	151	26	some	some	DET
ajase-5514	151	27	external	external	ADJ
ajase-5514	151	28	factors	factor	NOUN
ajase-5514	151	29	or	or	CCONJ
ajase-5514	151	30	trend	trend	NOUN
ajase-5514	151	31	.	.	PUNCT
ajase-5514	152	1	also	also	ADV
ajase-5514	152	2	,	,	PUNCT
ajase-5514	152	3	the	the	DET
ajase-5514	152	4	time	time	NOUN
ajase-5514	152	5	series	series	PROPN
ajase-5514	152	6	plots	plot	VERB
ajase-5514	152	7	depict	depict	ADJ
ajase-5514	152	8	clustering	clustering	ADJ
ajase-5514	152	9	feature	feature	NOUN
ajase-5514	152	10	within	within	ADP
ajase-5514	152	11	the	the	DET
ajase-5514	152	12	plots	plot	NOUN
ajase-5514	152	13	indicating	indicate	VERB
ajase-5514	152	14	presence	presence	NOUN
ajase-5514	152	15	of	of	ADP
ajase-5514	152	16	volatility	volatility	NOUN
ajase-5514	152	17	.	.	PUNCT
ajase-5514	153	1	where	where	SCONJ
ajase-5514	153	2	at	at	ADP
ajase-5514	153	3	is	be	AUX
ajase-5514	153	4	the	the	DET
ajase-5514	153	5	actual	actual	ADJ
ajase-5514	153	6	value	value	NOUN
ajase-5514	153	7	in	in	ADP
ajase-5514	153	8	time	time	NOUN
ajase-5514	153	9	t	t	PROPN
ajase-5514	153	10	,	,	PUNCT
ajase-5514	153	11	and	and	CCONJ
ajase-5514	153	12	ft	ft	NOUN
ajase-5514	153	13	is	be	AUX
ajase-5514	153	14	the	the	DET
ajase-5514	153	15	prediction	prediction	NOUN
ajase-5514	153	16	value	value	NOUN
ajase-5514	153	17	in	in	ADP
ajase-5514	153	18	time	time	NOUN
ajase-5514	153	19	t.	t.	NOUN
ajase-5514	153	20	the	the	DET
ajase-5514	153	21	models	model	NOUN
ajase-5514	153	22	’	'	PUNCT
ajase-5514	153	23	performances	performance	NOUN
ajase-5514	153	24	would	would	AUX
ajase-5514	153	25	be	be	AUX
ajase-5514	153	26	assessed	assess	VERB
ajase-5514	153	27	using	use	VERB
ajase-5514	153	28	the	the	DET
ajase-5514	153	29	earlier	early	ADV
ajase-5514	153	30	described	describe	VERB
ajase-5514	153	31	monte	monte	PROPN
ajase-5514	153	32	carlos	carlos	PROPN
ajase-5514	153	33	simulation	simulation	PROPN
ajase-5514	153	34	study	study	PROPN
ajase-5514	153	35	under	under	ADP
ajase-5514	153	36	four	four	NUM
ajase-5514	153	37	categories	category	NOUN
ajase-5514	153	38	of	of	ADP
ajase-5514	153	39	small	small	ADJ
ajase-5514	153	40	sample	sample	NOUN
ajase-5514	153	41	sizes	size	NOUN
ajase-5514	153	42	.	.	PUNCT
ajase-5514	154	1	figure	figure	NOUN
ajase-5514	154	2	2	2	NUM
ajase-5514	154	3	:	:	PUNCT
ajase-5514	154	4	time	time	NOUN
ajase-5514	154	5	series	series	NOUN
ajase-5514	154	6	plots	plot	NOUN
ajase-5514	154	7	of	of	ADP
ajase-5514	154	8	simulated	simulate	VERB
ajase-5514	154	9	daily	daily	ADJ
ajase-5514	154	10	market	market	NOUN
ajase-5514	154	11	returns	return	NOUN
ajase-5514	154	12	of	of	ADP
ajase-5514	154	13	sample	sample	NOUN
ajase-5514	154	14	sizes	size	NOUN
ajase-5514	154	15	30	30	NUM
ajase-5514	154	16	and	and	CCONJ
ajase-5514	154	17	50	50	NUM
ajase-5514	154	18	figure	figure	NOUN
ajase-5514	154	19	3	3	NUM
ajase-5514	154	20	:	:	PUNCT
ajase-5514	154	21	time	time	NOUN
ajase-5514	154	22	series	series	NOUN
ajase-5514	154	23	plots	plot	NOUN
ajase-5514	154	24	of	of	ADP
ajase-5514	154	25	simulated	simulate	VERB
ajase-5514	154	26	daily	daily	ADJ
ajase-5514	154	27	market	market	NOUN
ajase-5514	154	28	returns	return	NOUN
ajase-5514	154	29	of	of	ADP
ajase-5514	154	30	sample	sample	NOUN
ajase-5514	154	31	sizes	size	NOUN
ajase-5514	154	32	70	70	NUM
ajase-5514	154	33	and	and	CCONJ
ajase-5514	154	34	100	100	NUM
ajase-5514	154	35	pa	pa	PROPN
ajase-5514	154	36	ge	ge	PROPN
ajase-5514	154	37	99	99	NUM
ajase-5514	154	38	https://journals.e-palli.com/home/index.php/ajase	https://journals.e-palli.com/home/index.php/ajase	PROPN
ajase-5514	154	39	am	be	AUX
ajase-5514	154	40	.	.	PUNCT
ajase-5514	155	1	j.	j.	PROPN
ajase-5514	155	2	appl	appl	PROPN
ajase-5514	155	3	.	.	PROPN
ajase-5514	156	1	stat	stat	PROPN
ajase-5514	156	2	.	.	PUNCT
ajase-5514	157	1	econ	econ	PROPN
ajase-5514	157	2	.	.	PUNCT
ajase-5514	158	1	4(1	4(1	X
ajase-5514	158	2	)	)	PUNCT
ajase-5514	158	3	94	94	NUM
ajase-5514	158	4	-	-	SYM
ajase-5514	158	5	107	107	NUM
ajase-5514	158	6	,	,	PUNCT
ajase-5514	158	7	2025	2025	NUM
ajase-5514	158	8	furthermore	furthermore	ADV
ajase-5514	158	9	,	,	PUNCT
ajase-5514	158	10	table	table	NOUN
ajase-5514	158	11	1	1	NUM
ajase-5514	158	12	depicts	depict	VERB
ajase-5514	158	13	the	the	DET
ajase-5514	158	14	summary	summary	NOUN
ajase-5514	158	15	statistics	statistic	NOUN
ajase-5514	158	16	,	,	PUNCT
ajase-5514	158	17	stationarity	stationarity	NOUN
ajase-5514	158	18	test	test	NOUN
ajase-5514	158	19	,	,	PUNCT
ajase-5514	158	20	non	non	ADJ
ajase-5514	158	21	-	-	ADJ
ajase-5514	158	22	linearity	linearity	ADJ
ajase-5514	158	23	test	test	NOUN
ajase-5514	158	24	and	and	CCONJ
ajase-5514	158	25	volatility	volatility	NOUN
ajase-5514	158	26	tests	test	NOUN
ajase-5514	158	27	of	of	ADP
ajase-5514	158	28	the	the	DET
ajase-5514	158	29	simulated	simulated	ADJ
ajase-5514	158	30	market	market	NOUN
ajase-5514	158	31	returns	return	NOUN
ajase-5514	158	32	data	datum	NOUN
ajase-5514	158	33	over	over	ADP
ajase-5514	158	34	four	four	NUM
ajase-5514	158	35	(	(	PUNCT
ajase-5514	158	36	4	4	NUM
ajase-5514	158	37	)	)	PUNCT
ajase-5514	158	38	categories	category	NOUN
ajase-5514	158	39	of	of	ADP
ajase-5514	158	40	small	small	ADJ
ajase-5514	158	41	sample	sample	NOUN
ajase-5514	158	42	sizes	size	NOUN
ajase-5514	158	43	.	.	PUNCT
ajase-5514	159	1	according	accord	VERB
ajase-5514	159	2	to	to	ADP
ajase-5514	159	3	the	the	DET
ajase-5514	159	4	table	table	NOUN
ajase-5514	159	5	,	,	PUNCT
ajase-5514	159	6	the	the	DET
ajase-5514	159	7	simulated	simulated	ADJ
ajase-5514	159	8	market	market	NOUN
ajase-5514	159	9	returns	return	NOUN
ajase-5514	159	10	returned	return	VERB
ajase-5514	159	11	average	average	ADJ
ajase-5514	159	12	returns	return	NOUN
ajase-5514	159	13	of	of	ADP
ajase-5514	159	14	-0.0085±0.06	-0.0085±0.06	PROPN
ajase-5514	159	15	,	,	PUNCT
ajase-5514	159	16	0.0092±0.06	0.0092±0.06	PROPN
ajase-5514	159	17	,	,	PUNCT
ajase-5514	159	18	0.0047±0.077	0.0047±0.077	NUM
ajase-5514	159	19	and	and	CCONJ
ajase-5514	159	20	0.0153±0.06	0.0153±0.06	PROPN
ajase-5514	159	21	for	for	ADP
ajase-5514	159	22	sample	sample	NOUN
ajase-5514	159	23	size	size	NOUN
ajase-5514	159	24	30	30	NUM
ajase-5514	159	25	,	,	PUNCT
ajase-5514	159	26	50	50	NUM
ajase-5514	159	27	,	,	PUNCT
ajase-5514	159	28	70	70	NUM
ajase-5514	159	29	and	and	CCONJ
ajase-5514	159	30	100	100	NUM
ajase-5514	159	31	respectively	respectively	ADV
ajase-5514	159	32	.	.	PUNCT
ajase-5514	160	1	based	base	VERB
ajase-5514	160	2	on	on	ADP
ajase-5514	160	3	the	the	DET
ajase-5514	160	4	aforesaid	aforesaid	NOUN
ajase-5514	160	5	,	,	PUNCT
ajase-5514	160	6	it	it	PRON
ajase-5514	160	7	can	can	AUX
ajase-5514	160	8	be	be	AUX
ajase-5514	160	9	observed	observe	VERB
ajase-5514	160	10	that	that	SCONJ
ajase-5514	160	11	the	the	DET
ajase-5514	160	12	simulated	simulated	ADJ
ajase-5514	160	13	data	data	NOUN
ajase-5514	160	14	depicts	depict	VERB
ajase-5514	160	15	a	a	DET
ajase-5514	160	16	relative	relative	ADJ
ajase-5514	160	17	uniform	uniform	ADJ
ajase-5514	160	18	variation	variation	NOUN
ajase-5514	160	19	(	(	PUNCT
ajase-5514	160	20	i.e.	i.e.	X
ajase-5514	160	21	standard	standard	ADJ
ajase-5514	160	22	deviation	deviation	NOUN
ajase-5514	160	23	at	at	ADP
ajase-5514	160	24	around	around	ADV
ajase-5514	160	25	0.06	0.06	NUM
ajase-5514	160	26	,	,	PUNCT
ajase-5514	160	27	which	which	PRON
ajase-5514	160	28	is	be	AUX
ajase-5514	160	29	close	close	ADJ
ajase-5514	160	30	to	to	PART
ajase-5514	160	31	induced	induce	VERB
ajase-5514	160	32	0.05	0.05	NUM
ajase-5514	160	33	)	)	PUNCT
ajase-5514	160	34	of	of	ADP
ajase-5514	160	35	the	the	DET
ajase-5514	160	36	simulated	simulate	VERB
ajase-5514	160	37	returns	return	NOUN
ajase-5514	160	38	across	across	ADP
ajase-5514	160	39	the	the	DET
ajase-5514	160	40	sample	sample	NOUN
ajase-5514	160	41	sizes	size	NOUN
ajase-5514	160	42	.	.	PUNCT
ajase-5514	161	1	also	also	ADV
ajase-5514	161	2	,	,	PUNCT
ajase-5514	161	3	consequent	consequent	ADJ
ajase-5514	161	4	to	to	ADP
ajase-5514	161	5	the	the	DET
ajase-5514	161	6	observed	observed	ADJ
ajase-5514	161	7	features	feature	NOUN
ajase-5514	161	8	in	in	ADP
ajase-5514	161	9	the	the	DET
ajase-5514	161	10	time	time	NOUN
ajase-5514	161	11	series	series	NOUN
ajase-5514	161	12	plots	plot	NOUN
ajase-5514	161	13	,	,	PUNCT
ajase-5514	161	14	the	the	DET
ajase-5514	161	15	simulated	simulate	VERB
ajase-5514	161	16	data	datum	NOUN
ajase-5514	161	17	were	be	AUX
ajase-5514	161	18	tested	test	VERB
ajase-5514	161	19	for	for	ADP
ajase-5514	161	20	stationarity	stationarity	NOUN
ajase-5514	161	21	,	,	PUNCT
ajase-5514	161	22	non	non	ADJ
ajase-5514	161	23	-	-	ADJ
ajase-5514	161	24	linearity	linearity	NOUN
ajase-5514	161	25	and	and	CCONJ
ajase-5514	161	26	presence	presence	NOUN
ajase-5514	161	27	of	of	ADP
ajase-5514	161	28	volatility	volatility	NOUN
ajase-5514	161	29	.	.	PUNCT
ajase-5514	162	1	according	accord	VERB
ajase-5514	162	2	to	to	ADP
ajase-5514	162	3	the	the	DET
ajase-5514	162	4	adf	adf	PROPN
ajase-5514	162	5	test	test	NOUN
ajase-5514	162	6	results	result	NOUN
ajase-5514	162	7	,	,	PUNCT
ajase-5514	162	8	all	all	DET
ajase-5514	162	9	the	the	DET
ajase-5514	162	10	returns	return	NOUN
ajase-5514	162	11	series	series	NOUN
ajase-5514	162	12	as	as	SCONJ
ajase-5514	162	13	expected	expect	VERB
ajase-5514	162	14	are	be	AUX
ajase-5514	162	15	stationary	stationary	ADJ
ajase-5514	162	16	at	at	ADP
ajase-5514	162	17	level	level	NOUN
ajase-5514	162	18	.	.	PUNCT
ajase-5514	163	1	as	as	SCONJ
ajase-5514	163	2	observed	observe	VERB
ajase-5514	163	3	in	in	ADP
ajase-5514	163	4	the	the	DET
ajase-5514	163	5	bds	bds	NOUN
ajase-5514	163	6	test	test	NOUN
ajase-5514	163	7	results	result	NOUN
ajase-5514	163	8	,	,	PUNCT
ajase-5514	163	9	the	the	DET
ajase-5514	163	10	p	p	NOUN
ajase-5514	163	11	-	-	PUNCT
ajase-5514	163	12	values	value	NOUN
ajase-5514	163	13	depict	depict	VERB
ajase-5514	163	14	significant	significant	ADJ
ajase-5514	163	15	at	at	ADP
ajase-5514	163	16	0.05	0.05	NUM
ajase-5514	163	17	level	level	NOUN
ajase-5514	163	18	suggesting	suggest	VERB
ajase-5514	163	19	the	the	DET
ajase-5514	163	20	non	non	NOUN
ajase-5514	163	21	-	-	NOUN
ajase-5514	163	22	acceptance	acceptance	NOUN
ajase-5514	163	23	of	of	ADP
ajase-5514	163	24	linearity	linearity	NOUN
ajase-5514	163	25	assumption	assumption	NOUN
ajase-5514	163	26	for	for	ADP
ajase-5514	163	27	the	the	DET
ajase-5514	163	28	simulated	simulate	VERB
ajase-5514	163	29	returns	return	NOUN
ajase-5514	163	30	series	series	NOUN
ajase-5514	163	31	across	across	ADP
ajase-5514	163	32	all	all	DET
ajase-5514	163	33	the	the	DET
ajase-5514	163	34	sample	sample	NOUN
ajase-5514	163	35	sizes	size	NOUN
ajase-5514	163	36	.	.	PUNCT
ajase-5514	164	1	similarly	similarly	ADV
ajase-5514	164	2	,	,	PUNCT
ajase-5514	164	3	the	the	DET
ajase-5514	164	4	arch	arch	ADJ
ajase-5514	164	5	test	test	NOUN
ajase-5514	164	6	p	p	NOUN
ajase-5514	164	7	-	-	PUNCT
ajase-5514	164	8	values	value	NOUN
ajase-5514	164	9	results	result	NOUN
ajase-5514	164	10	reveal	reveal	VERB
ajase-5514	164	11	significant	significant	ADJ
ajase-5514	164	12	at	at	ADP
ajase-5514	164	13	0.05	0.05	NUM
ajase-5514	164	14	level	level	NOUN
ajase-5514	164	15	suggesting	suggest	VERB
ajase-5514	164	16	the	the	DET
ajase-5514	164	17	non	non	NOUN
ajase-5514	164	18	-	-	NOUN
ajase-5514	164	19	acceptance	acceptance	NOUN
ajase-5514	164	20	of	of	ADP
ajase-5514	164	21	assumption	assumption	NOUN
ajase-5514	164	22	of	of	ADP
ajase-5514	164	23	no	no	DET
ajase-5514	164	24	presence	presence	NOUN
ajase-5514	164	25	of	of	ADP
ajase-5514	164	26	volatility	volatility	NOUN
ajase-5514	164	27	in	in	ADP
ajase-5514	164	28	the	the	DET
ajase-5514	164	29	simulated	simulate	VERB
ajase-5514	164	30	returns	return	NOUN
ajase-5514	164	31	series	series	NOUN
ajase-5514	164	32	across	across	ADP
ajase-5514	164	33	all	all	DET
ajase-5514	164	34	the	the	DET
ajase-5514	164	35	sample	sample	NOUN
ajase-5514	164	36	sizes	size	NOUN
ajase-5514	164	37	.	.	PUNCT
ajase-5514	165	1	based	base	VERB
ajase-5514	165	2	on	on	ADP
ajase-5514	165	3	the	the	DET
ajase-5514	165	4	foregoing	foregoing	NOUN
ajase-5514	165	5	,	,	PUNCT
ajase-5514	165	6	is	be	AUX
ajase-5514	165	7	quite	quite	ADV
ajase-5514	165	8	evident	evident	ADJ
ajase-5514	165	9	that	that	SCONJ
ajase-5514	165	10	the	the	DET
ajase-5514	165	11	simulated	simulate	VERB
ajase-5514	165	12	returns	return	NOUN
ajase-5514	165	13	at	at	ADP
ajase-5514	165	14	all	all	DET
ajase-5514	165	15	the	the	DET
ajase-5514	165	16	sample	sample	NOUN
ajase-5514	165	17	sizes	size	NOUN
ajase-5514	165	18	significantly	significantly	ADV
ajase-5514	165	19	exhibit	exhibit	VERB
ajase-5514	165	20	non	non	ADJ
ajase-5514	165	21	-	-	ADJ
ajase-5514	165	22	linearity	linearity	ADJ
ajase-5514	165	23	and	and	CCONJ
ajase-5514	165	24	volatility	volatility	NOUN
ajase-5514	165	25	features	feature	NOUN
ajase-5514	165	26	.	.	PUNCT
ajase-5514	166	1	hence	hence	ADV
ajase-5514	166	2	,	,	PUNCT
ajase-5514	166	3	the	the	DET
ajase-5514	166	4	simulated	simulate	VERB
ajase-5514	166	5	returns	return	NOUN
ajase-5514	166	6	data	data	VERB
ajase-5514	166	7	necessitate	necessitate	ADJ
ajase-5514	166	8	non	non	ADJ
ajase-5514	166	9	-	-	ADJ
ajase-5514	166	10	linear	linear	ADJ
ajase-5514	166	11	and	and	CCONJ
ajase-5514	166	12	volatility	volatility	NOUN
ajase-5514	166	13	models	model	NOUN
ajase-5514	166	14	such	such	ADJ
ajase-5514	166	15	as	as	ADP
ajase-5514	166	16	the	the	DET
ajase-5514	166	17	state	state	NOUN
ajase-5514	166	18	switching	switch	VERB
ajase-5514	166	19	model	model	NOUN
ajase-5514	166	20	and	and	CCONJ
ajase-5514	166	21	novel	novel	ADJ
ajase-5514	166	22	neural	neural	ADJ
ajase-5514	166	23	network	network	NOUN
ajase-5514	166	24	state	state	NOUN
ajase-5514	166	25	switching	switching	NOUN
ajase-5514	166	26	models	model	NOUN
ajase-5514	166	27	.	.	PUNCT
ajase-5514	167	1	table	table	NOUN
ajase-5514	167	2	1	1	NUM
ajase-5514	167	3	:	:	PUNCT
ajase-5514	167	4	summary	summary	NOUN
ajase-5514	167	5	statistics	statistic	NOUN
ajase-5514	167	6	and	and	CCONJ
ajase-5514	167	7	preliminary	preliminary	ADJ
ajase-5514	167	8	tests	test	NOUN
ajase-5514	167	9	of	of	ADP
ajase-5514	167	10	the	the	DET
ajase-5514	167	11	simulated	simulate	VERB
ajase-5514	167	12	data	datum	NOUN
ajase-5514	167	13	30	30	NUM
ajase-5514	167	14	50	50	NUM
ajase-5514	167	15	70	70	NUM
ajase-5514	167	16	100	100	NUM
ajase-5514	167	17	summary	summary	NOUN
ajase-5514	167	18	statistics	statistic	NOUN
ajase-5514	167	19	mean	mean	VERB
ajase-5514	167	20	-0.0085	-0.0085	X
ajase-5514	167	21	0.0092	0.0092	NUM
ajase-5514	167	22	0.0047	0.0047	NUM
ajase-5514	167	23	0.0153	0.0153	NUM
ajase-5514	167	24	median	median	NOUN
ajase-5514	167	25	-0.0150	-0.0150	NOUN
ajase-5514	168	1	0.0053	0.0053	NUM
ajase-5514	168	2	0.0063	0.0063	NUM
ajase-5514	168	3	0.0174	0.0174	NUM
ajase-5514	168	4	min	min	NOUN
ajase-5514	168	5	.	.	PROPN
ajase-5514	168	6	-0.1203	-0.1203	PROPN
ajase-5514	169	1	-0.1470	-0.1470	PROPN
ajase-5514	169	2	-0.1935	-0.1935	PROPN
ajase-5514	169	3	-0.1567	-0.1567	PUNCT
ajase-5514	170	1	max	max	PROPN
ajase-5514	170	2	.	.	PUNCT
ajase-5514	171	1	0.1387	0.1387	NUM
ajase-5514	171	2	0.1349	0.1349	NUM
ajase-5514	171	3	0.2717	0.2717	NUM
ajase-5514	171	4	0.1699	0.1699	NUM
ajase-5514	171	5	std	std	NOUN
ajase-5514	171	6	.	.	PUNCT
ajase-5514	171	7	dev	dev	PROPN
ajase-5514	171	8	.	.	PUNCT
ajase-5514	172	1	0.0604	0.0604	NUM
ajase-5514	172	2	0.06199	0.06199	NUM
ajase-5514	172	3	0.0772	0.0772	NUM
ajase-5514	172	4	0.0618	0.0618	NUM
ajase-5514	172	5	preliminary	preliminary	ADJ
ajase-5514	172	6	tests	test	NOUN
ajase-5514	172	7	adf	adf	PROPN
ajase-5514	172	8	test	test	NOUN
ajase-5514	172	9	i(0	i(0	PROPN
ajase-5514	172	10	)	)	PUNCT
ajase-5514	172	11	0.00	0.00	NUM
ajase-5514	172	12	*	*	PUNCT
ajase-5514	172	13	i(0	i(0	NOUN
ajase-5514	172	14	)	)	PUNCT
ajase-5514	173	1	0.00	0.00	NUM
ajase-5514	173	2	*	*	PUNCT
ajase-5514	173	3	i(0	i(0	NOUN
ajase-5514	173	4	)	)	PUNCT
ajase-5514	173	5	0.00	0.00	NUM
ajase-5514	173	6	*	*	PUNCT
ajase-5514	173	7	i(0	i(0	NOUN
ajase-5514	173	8	)	)	PUNCT
ajase-5514	173	9	0.00	0.00	NUM
ajase-5514	173	10	*	*	PUNCT
ajase-5514	173	11	bds	bds	NOUN
ajase-5514	173	12	test	test	NOUN
ajase-5514	173	13	0.0302	0.0302	NUM
ajase-5514	173	14	*	*	PUNCT
ajase-5514	173	15	0.0310	0.0310	NUM
ajase-5514	173	16	*	*	NOUN
ajase-5514	173	17	0.0386	0.0386	NUM
ajase-5514	173	18	*	*	PUNCT
ajase-5514	173	19	0.0309	0.0309	NUM
ajase-5514	173	20	*	*	PUNCT
ajase-5514	173	21	arch	arch	ADJ
ajase-5514	173	22	test	test	NOUN
ajase-5514	173	23	0.0068	0.0068	NUM
ajase-5514	173	24	*	*	PUNCT
ajase-5514	173	25	0.0272	0.0272	NUM
ajase-5514	173	26	*	*	PUNCT
ajase-5514	173	27	3.21e-06	3.21e-06	NUM
ajase-5514	173	28	*	*	SYM
ajase-5514	173	29	4.70e-06	4.70e-06	NUM
ajase-5514	173	30	*	*	NOUN
ajase-5514	173	31	note	note	NOUN
ajase-5514	173	32	:	:	PUNCT
ajase-5514	173	33	*	*	PUNCT
ajase-5514	173	34	denotes	denote	NOUN
ajase-5514	173	35	significant	significant	ADJ
ajase-5514	173	36	at	at	ADP
ajase-5514	173	37	0.05	0.05	NUM
ajase-5514	173	38	level	level	NOUN
ajase-5514	173	39	source	source	NOUN
ajase-5514	173	40	:	:	PUNCT
ajase-5514	173	41	researchers	researcher	NOUN
ajase-5514	173	42	’	'	PUNCT
ajase-5514	173	43	compilations	compilation	NOUN
ajase-5514	173	44	from	from	ADP
ajase-5514	173	45	r	r	NOUN
ajase-5514	173	46	-	-	PUNCT
ajase-5514	173	47	output	output	NOUN
ajase-5514	173	48	models	model	NOUN
ajase-5514	173	49	estimations	estimation	VERB
ajase-5514	173	50	this	this	DET
ajase-5514	173	51	section	section	NOUN
ajase-5514	173	52	presents	present	VERB
ajase-5514	173	53	and	and	CCONJ
ajase-5514	173	54	discusses	discuss	VERB
ajase-5514	173	55	the	the	DET
ajase-5514	173	56	estimations	estimation	NOUN
ajase-5514	173	57	of	of	ADP
ajase-5514	173	58	the	the	DET
ajase-5514	173	59	novel	novel	ADJ
ajase-5514	173	60	models	model	NOUN
ajase-5514	173	61	and	and	CCONJ
ajase-5514	173	62	the	the	DET
ajase-5514	173	63	traditional	traditional	ADJ
ajase-5514	173	64	ssm	ssm	NOUN
ajase-5514	173	65	.	.	PUNCT
ajase-5514	174	1	the	the	DET
ajase-5514	174	2	models	model	NOUN
ajase-5514	174	3	were	be	AUX
ajase-5514	174	4	fitted	fit	VERB
ajase-5514	174	5	for	for	ADP
ajase-5514	174	6	training	training	NOUN
ajase-5514	174	7	dataset	dataset	NOUN
ajase-5514	174	8	that	that	PRON
ajase-5514	174	9	consisted	consist	VERB
ajase-5514	174	10	of	of	ADP
ajase-5514	174	11	80	80	NUM
ajase-5514	174	12	%	%	NOUN
ajase-5514	174	13	of	of	ADP
ajase-5514	174	14	the	the	DET
ajase-5514	174	15	simulated	simulate	VERB
ajase-5514	174	16	returns	return	NOUN
ajase-5514	174	17	at	at	ADP
ajase-5514	174	18	different	different	ADJ
ajase-5514	174	19	sample	sample	NOUN
ajase-5514	174	20	sizes	size	NOUN
ajase-5514	174	21	.	.	PUNCT
ajase-5514	175	1	the	the	DET
ajase-5514	175	2	diagnosis	diagnosis	NOUN
ajase-5514	175	3	of	of	ADP
ajase-5514	175	4	the	the	DET
ajase-5514	175	5	goodness	goodness	NOUN
ajase-5514	175	6	of	of	ADP
ajase-5514	175	7	fit	fit	NOUN
ajase-5514	175	8	of	of	ADP
ajase-5514	175	9	the	the	DET
ajase-5514	175	10	estimated	estimate	VERB
ajase-5514	175	11	models	model	NOUN
ajase-5514	175	12	for	for	ADP
ajase-5514	175	13	the	the	DET
ajase-5514	175	14	return	return	NOUN
ajase-5514	175	15	series	series	NOUN
ajase-5514	175	16	depicts	depict	VERB
ajase-5514	175	17	,	,	PUNCT
ajase-5514	175	18	the	the	DET
ajase-5514	175	19	q	q	X
ajase-5514	175	20	–	–	PUNCT
ajase-5514	175	21	statistics	statistic	NOUN
ajase-5514	175	22	p	p	NOUN
ajase-5514	175	23	-	-	PUNCT
ajase-5514	175	24	values	value	NOUN
ajase-5514	175	25	greater	great	ADJ
ajase-5514	175	26	than	than	ADP
ajase-5514	175	27	0.05	0.05	NUM
ajase-5514	175	28	,	,	PUNCT
ajase-5514	175	29	indicating	indicate	VERB
ajase-5514	175	30	that	that	SCONJ
ajase-5514	175	31	there	there	PRON
ajase-5514	175	32	is	be	VERB
ajase-5514	175	33	no	no	DET
ajase-5514	175	34	statistically	statistically	ADV
ajase-5514	175	35	significant	significant	ADJ
ajase-5514	175	36	trace	trace	NOUN
ajase-5514	175	37	of	of	ADP
ajase-5514	175	38	dependency	dependency	NOUN
ajase-5514	175	39	or	or	CCONJ
ajase-5514	175	40	autocorrelation	autocorrelation	NOUN
ajase-5514	175	41	left	leave	VERB
ajase-5514	175	42	in	in	ADP
ajase-5514	175	43	the	the	DET
ajase-5514	175	44	squared	square	VERB
ajase-5514	175	45	standardized	standardized	ADJ
ajase-5514	175	46	residuals	residual	NOUN
ajase-5514	175	47	,	,	PUNCT
ajase-5514	175	48	indicating	indicate	VERB
ajase-5514	175	49	that	that	SCONJ
ajase-5514	175	50	all	all	DET
ajase-5514	175	51	the	the	DET
ajase-5514	175	52	estimated	estimate	VERB
ajase-5514	175	53	models	model	NOUN
ajase-5514	175	54	are	be	AUX
ajase-5514	175	55	adequately	adequately	ADV
ajase-5514	175	56	specified	specify	VERB
ajase-5514	175	57	.	.	PUNCT
ajase-5514	176	1	table	table	NOUN
ajase-5514	176	2	2	2	NUM
ajase-5514	176	3	present	present	VERB
ajase-5514	176	4	the	the	DET
ajase-5514	176	5	summary	summary	NOUN
ajase-5514	176	6	of	of	ADP
ajase-5514	176	7	models	model	NOUN
ajase-5514	176	8	’	'	PUNCT
ajase-5514	176	9	estimations	estimation	NOUN
ajase-5514	176	10	for	for	ADP
ajase-5514	176	11	the	the	DET
ajase-5514	176	12	simulated	simulate	VERB
ajase-5514	176	13	market	market	NOUN
ajase-5514	176	14	returns	return	NOUN
ajase-5514	176	15	at	at	ADP
ajase-5514	176	16	a	a	DET
ajase-5514	176	17	sample	sample	NOUN
ajase-5514	176	18	size	size	NOUN
ajase-5514	176	19	of	of	ADP
ajase-5514	176	20	30	30	NUM
ajase-5514	176	21	.	.	PUNCT
ajase-5514	177	1	according	accord	VERB
ajase-5514	177	2	to	to	ADP
ajase-5514	177	3	table	table	NOUN
ajase-5514	177	4	2	2	NUM
ajase-5514	177	5	,	,	PUNCT
ajase-5514	177	6	among	among	ADP
ajase-5514	177	7	the	the	DET
ajase-5514	177	8	estimated	estimate	VERB
ajase-5514	177	9	models	model	NOUN
ajase-5514	177	10	the	the	DET
ajase-5514	177	11	novel	novel	ADJ
ajase-5514	177	12	mlpssm	mlpssm	NOUN
ajase-5514	177	13	and	and	CCONJ
ajase-5514	177	14	rbfssm	rbfssm	NOUN
ajase-5514	177	15	returned	return	VERB
ajase-5514	177	16	with	with	ADP
ajase-5514	177	17	the	the	DET
ajase-5514	177	18	least	least	ADJ
ajase-5514	177	19	aic	aic	PROPN
ajase-5514	177	20	of	of	ADP
ajase-5514	177	21	-314.6393	-314.6393	PROPN
ajase-5514	177	22	and	and	CCONJ
ajase-5514	177	23	-115.7039	-115.7039	NOUN
ajase-5514	177	24	,	,	PUNCT
ajase-5514	177	25	respectively	respectively	ADV
ajase-5514	177	26	as	as	ADV
ajase-5514	177	27	well	well	ADV
ajase-5514	177	28	as	as	ADP
ajase-5514	177	29	higher	high	ADJ
ajase-5514	177	30	log	log	NOUN
ajase-5514	177	31	-	-	PUNCT
ajase-5514	177	32	likelihood	likelihood	NOUN
ajase-5514	177	33	of	of	ADP
ajase-5514	177	34	161.3196	161.3196	NUM
ajase-5514	177	35	and	and	CCONJ
ajase-5514	177	36	61.8519	61.8519	NUM
ajase-5514	177	37	respectively	respectively	ADV
ajase-5514	177	38	.	.	PUNCT
ajase-5514	178	1	thus	thus	ADV
ajase-5514	178	2	,	,	PUNCT
ajase-5514	178	3	mlpssm	mlpssm	NOUN
ajase-5514	178	4	returns	return	NOUN
ajase-5514	178	5	to	to	PART
ajase-5514	178	6	be	be	AUX
ajase-5514	178	7	the	the	DET
ajase-5514	178	8	most	most	ADV
ajase-5514	178	9	parsimonious	parsimonious	ADJ
ajase-5514	178	10	model	model	NOUN
ajase-5514	178	11	among	among	ADP
ajase-5514	178	12	the	the	DET
ajase-5514	178	13	estimated	estimate	VERB
ajase-5514	178	14	ssms	ssm	NOUN
ajase-5514	178	15	.	.	PUNCT
ajase-5514	178	16	table	table	NOUN
ajase-5514	178	17	2	2	NUM
ajase-5514	178	18	:	:	PUNCT
ajase-5514	178	19	summary	summary	NOUN
ajase-5514	178	20	of	of	ADP
ajase-5514	178	21	models	model	NOUN
ajase-5514	178	22	estimations	estimation	NOUN
ajase-5514	178	23	at	at	ADP
ajase-5514	178	24	30	30	NUM
ajase-5514	178	25	sample	sample	NOUN
ajase-5514	178	26	size	size	NOUN
ajase-5514	178	27	ssm	ssm	PROPN
ajase-5514	178	28	rnnssm	rnnssm	VERB
ajase-5514	178	29	rbfssm	rbfssm	PROPN
ajase-5514	178	30	grnnssm	grnnssm	NOUN
ajase-5514	178	31	mlpssm	mlpssm	PROPN
ajase-5514	178	32	regime	regime	NOUN
ajase-5514	178	33	1	1	NUM
ajase-5514	178	34	intercept	intercept	VERB
ajase-5514	178	35	0.0461	0.0461	NUM
ajase-5514	178	36	*	*	SYM
ajase-5514	178	37	-0.4385	-0.4385	NOUN
ajase-5514	179	1	589.59	589.59	NUM
ajase-5514	179	2	*	*	PUNCT
ajase-5514	180	1	0.0087	0.0087	NUM
ajase-5514	180	2	-1437.70	-1437.70	NUM
ajase-5514	180	3	training_network	training_network	NOUN
ajase-5514	180	4	rnn=	rnn=	PROPN
ajase-5514	180	5	0.7062	0.7062	NUM
ajase-5514	180	6	*	*	PUNCT
ajase-5514	180	7	rbf=-1.18e+07	rbf=-1.18e+07	PROPN
ajase-5514	180	8	*	*	PROPN
ajase-5514	180	9	grnn=1.1443	grnn=1.1443	PROPN
ajase-5514	180	10	mlp=1443.53	mlp=1443.53	PROPN
ajase-5514	180	11	*	*	PROPN
ajase-5514	180	12	regime	regime	NOUN
ajase-5514	180	13	2	2	NUM
ajase-5514	180	14	intercept	intercept	NOUN
ajase-5514	180	15	-0.0626	-0.0626	NOUN
ajase-5514	180	16	*	*	PUNCT
ajase-5514	181	1	0.2849	0.2849	NUM
ajase-5514	181	2	-922.40	-922.40	PROPN
ajase-5514	181	3	*	*	PUNCT
ajase-5514	181	4	0.0754	0.0754	NUM
ajase-5514	181	5	-1443.05	-1443.05	PROPN
ajase-5514	181	6	training_network	training_network	PROPN
ajase-5514	181	7	rnn=-0.4932	rnn=-0.4932	ADJ
ajase-5514	181	8	rbf=1.84e+7	rbf=1.84e+7	NOUN
ajase-5514	181	9	*	*	PUNCT
ajase-5514	181	10	grnn=0.6202	grnn=0.6202	PROPN
ajase-5514	181	11	mlp=1448.90	mlp=1448.90	NOUN
ajase-5514	181	12	*	*	PROPN
ajase-5514	181	13	transition	transition	NOUN
ajase-5514	181	14	prob	prob	PROPN
ajase-5514	181	15	.	.	PUNCT
ajase-5514	182	1	state	state	NOUN
ajase-5514	182	2	1	1	NUM
ajase-5514	182	3	state	state	NOUN
ajase-5514	182	4	2	2	NUM
ajase-5514	182	5	0.3484	0.3484	NUM
ajase-5514	182	6	0.6578	0.6578	NUM
ajase-5514	182	7	0.3461	0.3461	NUM
ajase-5514	182	8	0.3138	0.3138	NUM
ajase-5514	182	9	0.3423	0.3423	NUM
ajase-5514	182	10	0.6648	0.6648	NUM
ajase-5514	182	11	0.000	0.000	NUM
ajase-5514	182	12	0.7007	0.7007	NUM
ajase-5514	182	13	0.9468	0.9468	NUM
ajase-5514	182	14	0.2294	0.2294	NUM
ajase-5514	182	15	state	state	NOUN
ajase-5514	182	16	2	2	NUM
ajase-5514	182	17	state	state	NOUN
ajase-5514	182	18	1	1	NUM
ajase-5514	182	19	0.6516	0.6516	NUM
ajase-5514	182	20	0.3422	0.3422	NUM
ajase-5514	182	21	0.6539	0.6539	NUM
ajase-5514	182	22	0.6862	0.6862	NUM
ajase-5514	182	23	0.6577	0.6577	NUM
ajase-5514	182	24	0.3352	0.3352	NUM
ajase-5514	182	25	1.000	1.000	NUM
ajase-5514	182	26	0.2992	0.2992	NUM
ajase-5514	182	27	0.0532	0.0532	NUM
ajase-5514	182	28	0.7705	0.7705	NUM
ajase-5514	182	29	aic	aic	PROPN
ajase-5514	182	30	-64.31498	-64.31498	NUM
ajase-5514	182	31	-59.7527	-59.7527	PUNCT
ajase-5514	182	32	-115.7039	-115.7039	PROPN
ajase-5514	182	33	-56.3426	-56.3426	PUNCT
ajase-5514	182	34	-314.6393	-314.6393	ADJ
ajase-5514	182	35	loglik	loglik	NOUN
ajase-5514	182	36	34.1575	34.1575	NUM
ajase-5514	182	37	33.8764	33.8764	NUM
ajase-5514	182	38	61.8519	61.8519	NUM
ajase-5514	182	39	32.1713	32.1713	NUM
ajase-5514	182	40	161.3196	161.3196	NUM
ajase-5514	182	41	note	note	NOUN
ajase-5514	182	42	:	:	PUNCT
ajase-5514	182	43	*	*	PUNCT
ajase-5514	182	44	denotes	denote	NOUN
ajase-5514	182	45	significant	significant	ADJ
ajase-5514	182	46	at	at	ADP
ajase-5514	182	47	0.05	0.05	NUM
ajase-5514	182	48	level	level	NOUN
ajase-5514	182	49	source	source	NOUN
ajase-5514	182	50	:	:	PUNCT
ajase-5514	182	51	researchers	researcher	NOUN
ajase-5514	182	52	’	'	PUNCT
ajase-5514	182	53	compilations	compilation	NOUN
ajase-5514	182	54	from	from	ADP
ajase-5514	182	55	r	r	NOUN
ajase-5514	182	56	-	-	PUNCT
ajase-5514	182	57	output	output	NOUN
ajase-5514	182	58	pa	pa	PROPN
ajase-5514	182	59	ge	ge	PROPN
ajase-5514	182	60	10	10	NUM
ajase-5514	182	61	0	0	NUM
ajase-5514	183	1	https://journals.e-palli.com/home/index.php/ajase	https://journals.e-palli.com/home/index.php/ajase	PROPN
ajase-5514	183	2	am	am	NOUN
ajase-5514	183	3	.	.	PUNCT
ajase-5514	184	1	j.	j.	PROPN
ajase-5514	184	2	appl	appl	PROPN
ajase-5514	184	3	.	.	PROPN
ajase-5514	185	1	stat	stat	PROPN
ajase-5514	185	2	.	.	PUNCT
ajase-5514	186	1	econ	econ	PROPN
ajase-5514	186	2	.	.	PUNCT
ajase-5514	187	1	4(1	4(1	X
ajase-5514	187	2	)	)	PUNCT
ajase-5514	187	3	94	94	NUM
ajase-5514	187	4	-	-	SYM
ajase-5514	187	5	107	107	NUM
ajase-5514	187	6	,	,	PUNCT
ajase-5514	187	7	2025	2025	NUM
ajase-5514	187	8	in	in	ADP
ajase-5514	187	9	addition	addition	NOUN
ajase-5514	187	10	,	,	PUNCT
ajase-5514	187	11	table	table	NOUN
ajase-5514	187	12	2	2	NUM
ajase-5514	187	13	depicts	depict	VERB
ajase-5514	187	14	the	the	DET
ajase-5514	187	15	transition	transition	NOUN
ajase-5514	187	16	probabilities	probability	NOUN
ajase-5514	187	17	for	for	ADP
ajase-5514	187	18	the	the	DET
ajase-5514	187	19	two	two	NUM
ajase-5514	187	20	identified	identify	VERB
ajase-5514	187	21	states	state	NOUN
ajase-5514	187	22	(	(	PUNCT
ajase-5514	187	23	namely	namely	ADV
ajase-5514	187	24	bull	bull	NOUN
ajase-5514	187	25	and	and	CCONJ
ajase-5514	187	26	bear	bear	NOUN
ajase-5514	187	27	)	)	PUNCT
ajase-5514	187	28	.	.	PUNCT
ajase-5514	188	1	the	the	DET
ajase-5514	188	2	transition	transition	NOUN
ajase-5514	188	3	probabilities	probability	NOUN
ajase-5514	188	4	for	for	ADP
ajase-5514	188	5	mlpssm	mlpssm	NOUN
ajase-5514	188	6	model	model	NOUN
ajase-5514	188	7	show	show	VERB
ajase-5514	188	8	that	that	SCONJ
ajase-5514	188	9	there	there	PRON
ajase-5514	188	10	is	be	VERB
ajase-5514	188	11	a	a	DET
ajase-5514	188	12	high	high	ADJ
ajase-5514	188	13	probability	probability	NOUN
ajase-5514	188	14	that	that	SCONJ
ajase-5514	188	15	the	the	DET
ajase-5514	188	16	market	market	NOUN
ajase-5514	188	17	returns	return	NOUN
ajase-5514	188	18	’	'	PUNCT
ajase-5514	188	19	system	system	NOUN
ajase-5514	188	20	remains	remain	VERB
ajase-5514	188	21	in	in	ADP
ajase-5514	188	22	the	the	DET
ajase-5514	188	23	same	same	ADJ
ajase-5514	188	24	state	state	NOUN
ajase-5514	188	25	hence	hence	ADV
ajase-5514	188	26	implying	imply	VERB
ajase-5514	188	27	limited	limited	ADJ
ajase-5514	188	28	switches	switch	NOUN
ajase-5514	188	29	in	in	ADP
ajase-5514	188	30	the	the	DET
ajase-5514	188	31	state	state	NOUN
ajase-5514	188	32	or	or	CCONJ
ajase-5514	188	33	regime	regime	NOUN
ajase-5514	188	34	.	.	PUNCT
ajase-5514	189	1	the	the	DET
ajase-5514	189	2	results	result	NOUN
ajase-5514	189	3	also	also	ADV
ajase-5514	189	4	indicate	indicate	VERB
ajase-5514	189	5	that	that	SCONJ
ajase-5514	189	6	the	the	DET
ajase-5514	189	7	mlpssm	mlpssm	NOUN
ajase-5514	189	8	has	have	VERB
ajase-5514	189	9	an	an	DET
ajase-5514	189	10	95	95	NUM
ajase-5514	189	11	%	%	NOUN
ajase-5514	189	12	probability	probability	NOUN
ajase-5514	189	13	of	of	ADP
ajase-5514	189	14	staying	stay	VERB
ajase-5514	189	15	in	in	ADP
ajase-5514	189	16	the	the	DET
ajase-5514	189	17	bull	bull	NOUN
ajase-5514	189	18	state	state	NOUN
ajase-5514	189	19	and	and	CCONJ
ajase-5514	189	20	a	a	DET
ajase-5514	189	21	5	5	NUM
ajase-5514	189	22	%	%	NOUN
ajase-5514	189	23	probability	probability	NOUN
ajase-5514	189	24	of	of	ADP
ajase-5514	189	25	switching	switch	VERB
ajase-5514	189	26	to	to	ADP
ajase-5514	189	27	the	the	DET
ajase-5514	189	28	bear	bear	NOUN
ajase-5514	189	29	state	state	NOUN
ajase-5514	189	30	.	.	PUNCT
ajase-5514	190	1	when	when	SCONJ
ajase-5514	190	2	the	the	DET
ajase-5514	190	3	system	system	NOUN
ajase-5514	190	4	is	be	AUX
ajase-5514	190	5	in	in	ADP
ajase-5514	190	6	a	a	DET
ajase-5514	190	7	bear	bear	NOUN
ajase-5514	190	8	state	state	NOUN
ajase-5514	190	9	,	,	PUNCT
ajase-5514	190	10	it	it	PRON
ajase-5514	190	11	has	have	VERB
ajase-5514	190	12	a	a	DET
ajase-5514	190	13	77	77	NUM
ajase-5514	190	14	%	%	NOUN
ajase-5514	190	15	probability	probability	NOUN
ajase-5514	190	16	of	of	ADP
ajase-5514	190	17	remaining	remain	VERB
ajase-5514	190	18	in	in	ADP
ajase-5514	190	19	bear	bear	NOUN
ajase-5514	190	20	state	state	NOUN
ajase-5514	190	21	and	and	CCONJ
ajase-5514	190	22	lower	low	ADJ
ajase-5514	190	23	probability	probability	NOUN
ajase-5514	190	24	of	of	ADP
ajase-5514	190	25	23	23	NUM
ajase-5514	190	26	%	%	NOUN
ajase-5514	190	27	to	to	PART
ajase-5514	190	28	switch	switch	VERB
ajase-5514	190	29	to	to	ADP
ajase-5514	190	30	bull	bull	NOUN
ajase-5514	190	31	state	state	NOUN
ajase-5514	190	32	.	.	PUNCT
ajase-5514	191	1	the	the	DET
ajase-5514	191	2	transition	transition	NOUN
ajase-5514	191	3	probability	probability	NOUN
ajase-5514	191	4	results	result	NOUN
ajase-5514	191	5	highlighted	highlight	VERB
ajase-5514	191	6	shows	show	VERB
ajase-5514	191	7	that	that	SCONJ
ajase-5514	191	8	only	only	ADV
ajase-5514	191	9	extreme/	extreme/	NUM
ajase-5514	191	10	great	great	ADJ
ajase-5514	191	11	events	event	NOUN
ajase-5514	191	12	can	can	AUX
ajase-5514	191	13	switch	switch	VERB
ajase-5514	191	14	the	the	DET
ajase-5514	191	15	returns	return	NOUN
ajase-5514	191	16	between	between	ADP
ajase-5514	191	17	states	state	NOUN
ajase-5514	191	18	i.e.	i.e.	X
ajase-5514	191	19	state	state	PROPN
ajase-5514	191	20	1(bull	1(bull	NUM
ajase-5514	191	21	phase	phase	NOUN
ajase-5514	191	22	)	)	PUNCT
ajase-5514	191	23	to	to	PART
ajase-5514	191	24	state	state	NOUN
ajase-5514	191	25	2	2	NUM
ajase-5514	191	26	(	(	PUNCT
ajase-5514	191	27	bear	bear	NOUN
ajase-5514	191	28	phase	phase	NOUN
ajase-5514	191	29	)	)	PUNCT
ajase-5514	191	30	,	,	PUNCT
ajase-5514	191	31	(	(	PUNCT
ajase-5514	191	32	figure	figure	NOUN
ajase-5514	191	33	4	4	NUM
ajase-5514	191	34	)	)	PUNCT
ajase-5514	191	35	.	.	PUNCT
ajase-5514	192	1	it	it	PRON
ajase-5514	192	2	further	far	ADV
ajase-5514	192	3	indicates	indicate	VERB
ajase-5514	192	4	that	that	SCONJ
ajase-5514	192	5	not	not	PART
ajase-5514	192	6	any	any	PRON
ajase-5514	192	7	of	of	ADP
ajase-5514	192	8	the	the	DET
ajase-5514	192	9	state	state	NOUN
ajase-5514	192	10	is	be	AUX
ajase-5514	192	11	lasting	last	VERB
ajase-5514	192	12	since	since	SCONJ
ajase-5514	192	13	all	all	DET
ajase-5514	192	14	transition	transition	NOUN
ajase-5514	192	15	probabilities	probability	NOUN
ajase-5514	192	16	are	be	AUX
ajase-5514	192	17	below	below	ADP
ajase-5514	192	18	one	one	NUM
ajase-5514	192	19	.	.	PUNCT
ajase-5514	193	1	figure	figure	VERB
ajase-5514	193	2	4	4	NUM
ajase-5514	193	3	:	:	PUNCT
ajase-5514	193	4	models	model	NOUN
ajase-5514	193	5	’	'	PUNCT
ajase-5514	193	6	transition	transition	NOUN
ajase-5514	193	7	probabilities	probability	NOUN
ajase-5514	193	8	of	of	ADP
ajase-5514	193	9	returns	return	NOUN
ajase-5514	193	10	at	at	ADP
ajase-5514	193	11	sample	sample	NOUN
ajase-5514	193	12	size	size	NOUN
ajase-5514	193	13	30	30	NUM
ajase-5514	193	14	furthermore	furthermore	ADV
ajase-5514	193	15	,	,	PUNCT
ajase-5514	193	16	table	table	NOUN
ajase-5514	193	17	3	3	NUM
ajase-5514	193	18	depicts	depict	VERB
ajase-5514	193	19	the	the	DET
ajase-5514	193	20	summary	summary	NOUN
ajase-5514	193	21	of	of	ADP
ajase-5514	193	22	models	model	NOUN
ajase-5514	193	23	’	'	PUNCT
ajase-5514	193	24	estimations	estimation	NOUN
ajase-5514	193	25	for	for	ADP
ajase-5514	193	26	the	the	DET
ajase-5514	193	27	simulated	simulate	VERB
ajase-5514	193	28	market	market	NOUN
ajase-5514	193	29	returns	return	NOUN
ajase-5514	193	30	at	at	ADP
ajase-5514	193	31	sample	sample	NOUN
ajase-5514	193	32	size	size	NOUN
ajase-5514	193	33	of	of	ADP
ajase-5514	193	34	50	50	NUM
ajase-5514	193	35	.	.	PUNCT
ajase-5514	194	1	the	the	DET
ajase-5514	194	2	table	table	NOUN
ajase-5514	194	3	reveals	reveal	VERB
ajase-5514	194	4	mlpssm	mlpssm	NOUN
ajase-5514	194	5	and	and	CCONJ
ajase-5514	194	6	rbfssm	rbfssm	NOUN
ajase-5514	194	7	returned	return	VERB
ajase-5514	194	8	with	with	ADP
ajase-5514	194	9	the	the	DET
ajase-5514	194	10	least	least	ADJ
ajase-5514	194	11	aic	aic	PROPN
ajase-5514	194	12	values	value	NOUN
ajase-5514	194	13	of	of	ADP
ajase-5514	194	14	-543.7162	-543.7162	NUM
ajase-5514	194	15	and	and	CCONJ
ajase-5514	194	16	-190.5718	-190.5718	PRON
ajase-5514	194	17	,	,	PUNCT
ajase-5514	194	18	respectively	respectively	ADV
ajase-5514	194	19	as	as	ADV
ajase-5514	194	20	well	well	ADV
ajase-5514	194	21	as	as	ADP
ajase-5514	194	22	higher	high	ADJ
ajase-5514	194	23	log	log	NOUN
ajase-5514	194	24	-	-	PUNCT
ajase-5514	194	25	likelihood	likelihood	NOUN
ajase-5514	194	26	values	value	NOUN
ajase-5514	194	27	of	of	ADP
ajase-5514	194	28	275.8581	275.8581	NUM
ajase-5514	194	29	and	and	CCONJ
ajase-5514	194	30	99.2859	99.2859	NUM
ajase-5514	194	31	respectively	respectively	ADV
ajase-5514	194	32	.	.	PUNCT
ajase-5514	195	1	similarly	similarly	ADV
ajase-5514	195	2	,	,	PUNCT
ajase-5514	195	3	the	the	DET
ajase-5514	195	4	results	result	NOUN
ajase-5514	195	5	returned	return	VERB
ajase-5514	195	6	mlpssm	mlpssm	NOUN
ajase-5514	195	7	with	with	ADP
ajase-5514	195	8	the	the	DET
ajase-5514	195	9	lowest	low	ADJ
ajase-5514	195	10	aic	aic	PROPN
ajase-5514	195	11	and	and	CCONJ
ajase-5514	195	12	highest	high	ADJ
ajase-5514	195	13	loglikelihood	loglikelihood	ADJ
ajase-5514	195	14	values	value	NOUN
ajase-5514	195	15	as	as	ADP
ajase-5514	195	16	the	the	DET
ajase-5514	195	17	most	most	ADV
ajase-5514	195	18	parsimonious	parsimonious	ADJ
ajase-5514	195	19	model	model	NOUN
ajase-5514	195	20	among	among	ADP
ajase-5514	195	21	the	the	DET
ajase-5514	195	22	estimated	estimate	VERB
ajase-5514	195	23	ssms	ssm	NOUN
ajase-5514	195	24	at	at	ADP
ajase-5514	195	25	sample	sample	NOUN
ajase-5514	195	26	size	size	NOUN
ajase-5514	195	27	50	50	NUM
ajase-5514	195	28	.	.	PUNCT
ajase-5514	196	1	additionally	additionally	ADV
ajase-5514	196	2	,	,	PUNCT
ajase-5514	196	3	table	table	NOUN
ajase-5514	196	4	3	3	NUM
ajase-5514	196	5	illustrates	illustrate	VERB
ajase-5514	196	6	the	the	DET
ajase-5514	196	7	transition	transition	NOUN
ajase-5514	196	8	probabilities	probability	NOUN
ajase-5514	196	9	between	between	ADP
ajase-5514	196	10	the	the	DET
ajase-5514	196	11	two	two	NUM
ajase-5514	196	12	identified	identify	VERB
ajase-5514	196	13	states	state	NOUN
ajase-5514	196	14	:	:	PUNCT
ajase-5514	196	15	bull	bull	NOUN
ajase-5514	196	16	and	and	CCONJ
ajase-5514	196	17	bear	bear	NOUN
ajase-5514	196	18	.	.	PUNCT
ajase-5514	197	1	the	the	DET
ajase-5514	197	2	transition	transition	NOUN
ajase-5514	197	3	probabilities	probability	NOUN
ajase-5514	197	4	for	for	ADP
ajase-5514	197	5	the	the	DET
ajase-5514	197	6	mlpssm	mlpssm	NOUN
ajase-5514	197	7	model	model	NOUN
ajase-5514	197	8	suggest	suggest	VERB
ajase-5514	197	9	a	a	DET
ajase-5514	197	10	low	low	ADJ
ajase-5514	197	11	likelihood	likelihood	NOUN
ajase-5514	197	12	of	of	ADP
ajase-5514	197	13	the	the	DET
ajase-5514	197	14	market	market	NOUN
ajase-5514	197	15	return	return	NOUN
ajase-5514	197	16	system	system	NOUN
ajase-5514	197	17	remaining	remain	VERB
ajase-5514	197	18	stable	stable	ADJ
ajase-5514	197	19	,	,	PUNCT
ajase-5514	197	20	indicating	indicate	VERB
ajase-5514	197	21	frequent	frequent	ADJ
ajase-5514	197	22	transitions	transition	NOUN
ajase-5514	197	23	between	between	ADP
ajase-5514	197	24	bull	bull	NOUN
ajase-5514	197	25	and	and	CCONJ
ajase-5514	197	26	bear	bear	NOUN
ajase-5514	197	27	states	state	NOUN
ajase-5514	197	28	.	.	PUNCT
ajase-5514	198	1	specifically	specifically	ADV
ajase-5514	198	2	,	,	PUNCT
ajase-5514	198	3	the	the	DET
ajase-5514	198	4	results	result	NOUN
ajase-5514	198	5	show	show	VERB
ajase-5514	198	6	that	that	SCONJ
ajase-5514	198	7	the	the	DET
ajase-5514	198	8	mlpssm	mlpssm	NOUN
ajase-5514	198	9	has	have	VERB
ajase-5514	198	10	a	a	DET
ajase-5514	198	11	32	32	NUM
ajase-5514	198	12	%	%	NOUN
ajase-5514	198	13	chance	chance	NOUN
ajase-5514	198	14	of	of	ADP
ajase-5514	198	15	remaining	remain	VERB
ajase-5514	198	16	in	in	ADP
ajase-5514	198	17	the	the	DET
ajase-5514	198	18	bull	bull	NOUN
ajase-5514	198	19	state	state	NOUN
ajase-5514	198	20	and	and	CCONJ
ajase-5514	198	21	a	a	DET
ajase-5514	198	22	68	68	NUM
ajase-5514	198	23	%	%	NOUN
ajase-5514	198	24	chance	chance	NOUN
ajase-5514	198	25	of	of	ADP
ajase-5514	198	26	transitioning	transition	VERB
ajase-5514	198	27	to	to	ADP
ajase-5514	198	28	the	the	DET
ajase-5514	198	29	bear	bear	NOUN
ajase-5514	198	30	state	state	NOUN
ajase-5514	198	31	.	.	PUNCT
ajase-5514	199	1	in	in	ADP
ajase-5514	199	2	a	a	DET
ajase-5514	199	3	bear	bear	NOUN
ajase-5514	199	4	state	state	NOUN
ajase-5514	199	5	,	,	PUNCT
ajase-5514	199	6	there	there	PRON
ajase-5514	199	7	is	be	VERB
ajase-5514	199	8	a	a	DET
ajase-5514	199	9	38	38	NUM
ajase-5514	199	10	%	%	NOUN
ajase-5514	199	11	probability	probability	NOUN
ajase-5514	199	12	of	of	ADP
ajase-5514	199	13	staying	stay	VERB
ajase-5514	199	14	in	in	ADP
ajase-5514	199	15	that	that	DET
ajase-5514	199	16	state	state	NOUN
ajase-5514	199	17	,	,	PUNCT
ajase-5514	199	18	while	while	SCONJ
ajase-5514	199	19	the	the	DET
ajase-5514	199	20	chance	chance	NOUN
ajase-5514	199	21	of	of	ADP
ajase-5514	199	22	switching	switch	VERB
ajase-5514	199	23	to	to	ADP
ajase-5514	199	24	the	the	DET
ajase-5514	199	25	bull	bull	NOUN
ajase-5514	199	26	state	state	NOUN
ajase-5514	199	27	is	be	AUX
ajase-5514	199	28	lower	low	ADJ
ajase-5514	199	29	at	at	ADP
ajase-5514	199	30	62	62	NUM
ajase-5514	199	31	%	%	NOUN
ajase-5514	199	32	.	.	PUNCT
ajase-5514	200	1	the	the	DET
ajase-5514	200	2	highlighted	highlight	VERB
ajase-5514	200	3	transition	transition	NOUN
ajase-5514	200	4	probability	probability	NOUN
ajase-5514	200	5	results	result	NOUN
ajase-5514	200	6	indicate	indicate	VERB
ajase-5514	200	7	that	that	SCONJ
ajase-5514	200	8	minor	minor	ADJ
ajase-5514	200	9	events	event	NOUN
ajase-5514	200	10	can	can	AUX
ajase-5514	200	11	trigger	trigger	VERB
ajase-5514	200	12	changes	change	NOUN
ajase-5514	200	13	in	in	ADP
ajase-5514	200	14	returns	return	NOUN
ajase-5514	200	15	between	between	ADP
ajase-5514	200	16	states	state	NOUN
ajase-5514	200	17	,	,	PUNCT
ajase-5514	200	18	such	such	ADJ
ajase-5514	200	19	as	as	ADP
ajase-5514	200	20	from	from	ADP
ajase-5514	200	21	state	state	NOUN
ajase-5514	200	22	1	1	NUM
ajase-5514	200	23	(	(	PUNCT
ajase-5514	200	24	bull	bull	NOUN
ajase-5514	200	25	phase	phase	NOUN
ajase-5514	200	26	)	)	PUNCT
ajase-5514	200	27	to	to	PART
ajase-5514	200	28	state	state	NOUN
ajase-5514	200	29	2	2	NUM
ajase-5514	200	30	(	(	PUNCT
ajase-5514	200	31	bear	bear	NOUN
ajase-5514	200	32	phase	phase	NOUN
ajase-5514	200	33	)	)	PUNCT
ajase-5514	200	34	or	or	CCONJ
ajase-5514	200	35	the	the	DET
ajase-5514	200	36	other	other	ADJ
ajase-5514	200	37	way	way	NOUN
ajase-5514	200	38	around	around	ADV
ajase-5514	200	39	(	(	PUNCT
ajase-5514	200	40	see	see	VERB
ajase-5514	200	41	figure	figure	NOUN
ajase-5514	200	42	5	5	NUM
ajase-5514	200	43	)	)	PUNCT
ajase-5514	200	44	.	.	PUNCT
ajase-5514	201	1	this	this	PRON
ajase-5514	201	2	suggests	suggest	VERB
ajase-5514	201	3	that	that	SCONJ
ajase-5514	201	4	neither	neither	DET
ajase-5514	201	5	state	state	NOUN
ajase-5514	201	6	is	be	AUX
ajase-5514	201	7	permanent	permanent	ADJ
ajase-5514	201	8	since	since	SCONJ
ajase-5514	201	9	all	all	DET
ajase-5514	201	10	transition	transition	NOUN
ajase-5514	201	11	probabilities	probability	NOUN
ajase-5514	201	12	are	be	AUX
ajase-5514	201	13	less	less	ADJ
ajase-5514	201	14	than	than	ADP
ajase-5514	201	15	one	one	NUM
ajase-5514	201	16	.	.	PUNCT
ajase-5514	202	1	pa	pa	PROPN
ajase-5514	202	2	ge	ge	PROPN
ajase-5514	202	3	10	10	NUM
ajase-5514	202	4	1	1	NUM
ajase-5514	202	5	https://journals.e-palli.com/home/index.php/ajase	https://journals.e-palli.com/home/index.php/ajase	PROPN
ajase-5514	202	6	am	am	NOUN
ajase-5514	202	7	.	.	PUNCT
ajase-5514	203	1	j.	j.	PROPN
ajase-5514	203	2	appl	appl	PROPN
ajase-5514	203	3	.	.	PROPN
ajase-5514	204	1	stat	stat	PROPN
ajase-5514	204	2	.	.	PUNCT
ajase-5514	205	1	econ	econ	PROPN
ajase-5514	205	2	.	.	PUNCT
ajase-5514	206	1	4(1	4(1	X
ajase-5514	206	2	)	)	PUNCT
ajase-5514	206	3	94	94	NUM
ajase-5514	206	4	-	-	SYM
ajase-5514	206	5	107	107	NUM
ajase-5514	206	6	,	,	PUNCT
ajase-5514	206	7	2025	2025	NUM
ajase-5514	206	8	table	table	NOUN
ajase-5514	206	9	3	3	NUM
ajase-5514	206	10	:	:	PUNCT
ajase-5514	206	11	summary	summary	NOUN
ajase-5514	206	12	of	of	ADP
ajase-5514	206	13	models	model	NOUN
ajase-5514	206	14	estimations	estimation	NOUN
ajase-5514	206	15	at	at	ADP
ajase-5514	206	16	50	50	NUM
ajase-5514	206	17	sample	sample	NOUN
ajase-5514	206	18	size	size	NOUN
ajase-5514	206	19	ssm	ssm	PROPN
ajase-5514	206	20	rnnssm	rnnssm	VERB
ajase-5514	206	21	rbfssm	rbfssm	PROPN
ajase-5514	206	22	grnnssm	grnnssm	NOUN
ajase-5514	206	23	mlpssm	mlpssm	PROPN
ajase-5514	206	24	regime	regime	NOUN
ajase-5514	206	25	1	1	NUM
ajase-5514	206	26	intercept	intercept	NOUN
ajase-5514	206	27	0.0032	0.0032	NUM
ajase-5514	206	28	0.0851	0.0851	NUM
ajase-5514	206	29	-505.86	-505.86	PROPN
ajase-5514	206	30	*	*	PROPN
ajase-5514	206	31	0.0342	0.0342	NUM
ajase-5514	206	32	-4218.13	-4218.13	SYM
ajase-5514	206	33	*	*	PUNCT
ajase-5514	206	34	training_network	training_network	PROPN
ajase-5514	206	35	rnn=	rnn=	PROPN
ajase-5514	206	36	-0.1698	-0.1698	NOUN
ajase-5514	207	1	rbf=	rbf=	PROPN
ajase-5514	207	2	2.02e+07	2.02e+07	PROPN
ajase-5514	207	3	*	*	PUNCT
ajase-5514	207	4	grnn=-0.1689	grnn=-0.1689	PROPN
ajase-5514	207	5	mlp=4231.02	mlp=4231.02	PROPN
ajase-5514	207	6	*	*	PROPN
ajase-5514	207	7	regime	regime	NOUN
ajase-5514	207	8	2	2	NUM
ajase-5514	207	9	intercept	intercept	NOUN
ajase-5514	207	10	-0.0036	-0.0036	NOUN
ajase-5514	207	11	-0.3103	-0.3103	NOUN
ajase-5514	207	12	-555.89	-555.89	PROPN
ajase-5514	207	13	*	*	PUNCT
ajase-5514	207	14	0.0295	0.0295	NUM
ajase-5514	207	15	-4167.55	-4167.55	NOUN
ajase-5514	207	16	*	*	PUNCT
ajase-5514	207	17	training_network	training_network	NOUN
ajase-5514	207	18	rnn=0.6503	rnn=0.6503	NOUN
ajase-5514	207	19	rbf=	rbf=	PROPN
ajase-5514	207	20	2.22e+07	2.22e+07	PROPN
ajase-5514	207	21	*	*	PUNCT
ajase-5514	207	22	grnn=-1.4262	grnn=-1.4262	NUM
ajase-5514	207	23	mlp=-4180.3	mlp=-4180.3	PRON
ajase-5514	207	24	*	*	NOUN
ajase-5514	207	25	transition	transition	NOUN
ajase-5514	207	26	prob	prob	PROPN
ajase-5514	207	27	.	.	PUNCT
ajase-5514	208	1	state	state	NOUN
ajase-5514	208	2	1	1	NUM
ajase-5514	208	3	state	state	NOUN
ajase-5514	208	4	2	2	NUM
ajase-5514	208	5	0.7489	0.7489	NUM
ajase-5514	208	6	0.2135	0.2135	NUM
ajase-5514	208	7	0.5193	0.5193	NUM
ajase-5514	208	8	0.9275	0.9275	NUM
ajase-5514	208	9	0.7376	0.7376	NUM
ajase-5514	208	10	0.7779	0.7779	NUM
ajase-5514	208	11	0.522	0.522	NUM
ajase-5514	208	12	0.9997	0.9997	NUM
ajase-5514	208	13	0.3202	0.3202	NUM
ajase-5514	208	14	0.3813	0.3813	NUM
ajase-5514	208	15	state	state	NOUN
ajase-5514	208	16	2	2	NUM
ajase-5514	208	17	state	state	NOUN
ajase-5514	208	18	1	1	NUM
ajase-5514	208	19	0.2511	0.2511	NUM
ajase-5514	208	20	0.7865	0.7865	NUM
ajase-5514	208	21	0.4807	0.4807	NUM
ajase-5514	208	22	0.0725	0.0725	NUM
ajase-5514	208	23	0.2624	0.2624	NUM
ajase-5514	208	24	0.2221	0.2221	NUM
ajase-5514	208	25	0.478	0.478	NUM
ajase-5514	208	26	0.0003	0.0003	NUM
ajase-5514	208	27	0.6798	0.6798	NUM
ajase-5514	208	28	0.6187	0.6187	NUM
ajase-5514	208	29	aic	aic	PROPN
ajase-5514	208	30	-110.943	-110.943	PROPN
ajase-5514	208	31	-108.51	-108.51	PROPN
ajase-5514	208	32	-190.5718	-190.5718	NUM
ajase-5514	208	33	-98.6980	-98.6980	PUNCT
ajase-5514	208	34	-543.7162	-543.7162	NOUN
ajase-5514	208	35	loglik	loglik	NOUN
ajase-5514	208	36	57.4715	57.4715	NUM
ajase-5514	208	37	58.2549	58.2549	NUM
ajase-5514	208	38	99.2859	99.2859	NUM
ajase-5514	208	39	53.3490	53.3490	NUM
ajase-5514	208	40	275.8581	275.8581	NUM
ajase-5514	208	41	note	note	NOUN
ajase-5514	208	42	:	:	PUNCT
ajase-5514	208	43	*	*	PUNCT
ajase-5514	208	44	denotes	denote	NOUN
ajase-5514	208	45	significant	significant	ADJ
ajase-5514	208	46	at	at	ADP
ajase-5514	208	47	0.05	0.05	NUM
ajase-5514	208	48	level	level	NOUN
ajase-5514	208	49	source	source	NOUN
ajase-5514	208	50	:	:	PUNCT
ajase-5514	208	51	researchers	researcher	NOUN
ajase-5514	208	52	’	'	PUNCT
ajase-5514	208	53	compilations	compilation	NOUN
ajase-5514	208	54	from	from	ADP
ajase-5514	208	55	r	r	NOUN
ajase-5514	208	56	-	-	PUNCT
ajase-5514	208	57	output	output	NOUN
ajase-5514	208	58	figure	figure	NOUN
ajase-5514	208	59	5	5	NUM
ajase-5514	208	60	:	:	PUNCT
ajase-5514	208	61	models	model	NOUN
ajase-5514	208	62	’	'	PUNCT
ajase-5514	208	63	transition	transition	NOUN
ajase-5514	208	64	probabilities	probability	NOUN
ajase-5514	208	65	of	of	ADP
ajase-5514	208	66	returns	return	NOUN
ajase-5514	208	67	at	at	ADP
ajase-5514	208	68	sample	sample	NOUN
ajase-5514	208	69	size	size	NOUN
ajase-5514	208	70	50	50	NUM
ajase-5514	208	71	moreover	moreover	ADV
ajase-5514	208	72	,	,	PUNCT
ajase-5514	208	73	table	table	NOUN
ajase-5514	208	74	4	4	NUM
ajase-5514	208	75	shows	show	VERB
ajase-5514	208	76	the	the	DET
ajase-5514	208	77	summary	summary	NOUN
ajase-5514	208	78	of	of	ADP
ajase-5514	208	79	models	model	NOUN
ajase-5514	208	80	’	'	PUNCT
ajase-5514	208	81	estimations	estimation	NOUN
ajase-5514	208	82	for	for	ADP
ajase-5514	208	83	the	the	DET
ajase-5514	208	84	simulated	simulate	VERB
ajase-5514	208	85	market	market	NOUN
ajase-5514	208	86	returns	return	NOUN
ajase-5514	208	87	at	at	ADP
ajase-5514	208	88	sample	sample	NOUN
ajase-5514	208	89	size	size	NOUN
ajase-5514	208	90	of	of	ADP
ajase-5514	208	91	70	70	NUM
ajase-5514	208	92	.	.	PUNCT
ajase-5514	209	1	the	the	DET
ajase-5514	209	2	table	table	NOUN
ajase-5514	209	3	reveals	reveal	VERB
ajase-5514	209	4	mlpssm	mlpssm	NOUN
ajase-5514	209	5	and	and	CCONJ
ajase-5514	209	6	rbfssm	rbfssm	NOUN
ajase-5514	209	7	returned	return	VERB
ajase-5514	209	8	with	with	ADP
ajase-5514	209	9	the	the	DET
ajase-5514	209	10	least	least	ADJ
ajase-5514	209	11	aic	aic	PROPN
ajase-5514	209	12	values	value	NOUN
ajase-5514	209	13	of	of	ADP
ajase-5514	209	14	-659.263	-659.263	NUM
ajase-5514	209	15	and	and	CCONJ
ajase-5514	209	16	-320.2873	-320.2873	PRON
ajase-5514	209	17	respectively	respectively	ADV
ajase-5514	209	18	as	as	ADV
ajase-5514	209	19	well	well	ADV
ajase-5514	209	20	as	as	ADP
ajase-5514	209	21	higher	high	ADJ
ajase-5514	209	22	log	log	NOUN
ajase-5514	209	23	-	-	PUNCT
ajase-5514	209	24	likelihood	likelihood	NOUN
ajase-5514	209	25	values	value	NOUN
ajase-5514	209	26	of	of	ADP
ajase-5514	209	27	333.6315	333.6315	NUM
ajase-5514	209	28	and	and	CCONJ
ajase-5514	209	29	164.1436	164.1436	NUM
ajase-5514	209	30	respectively	respectively	ADV
ajase-5514	209	31	.	.	PUNCT
ajase-5514	210	1	similarly	similarly	ADV
ajase-5514	210	2	,	,	PUNCT
ajase-5514	210	3	the	the	DET
ajase-5514	210	4	results	result	NOUN
ajase-5514	210	5	returned	return	VERB
ajase-5514	210	6	mlpssm	mlpssm	NOUN
ajase-5514	210	7	with	with	ADP
ajase-5514	210	8	lowest	low	ADJ
ajase-5514	210	9	aic	aic	PROPN
ajase-5514	210	10	and	and	CCONJ
ajase-5514	210	11	highest	high	ADJ
ajase-5514	210	12	log	log	NOUN
ajase-5514	210	13	-	-	PUNCT
ajase-5514	210	14	likelihood	likelihood	NOUN
ajase-5514	210	15	as	as	ADP
ajase-5514	210	16	the	the	DET
ajase-5514	210	17	most	most	ADV
ajase-5514	210	18	parsimonious	parsimonious	ADJ
ajase-5514	210	19	model	model	NOUN
ajase-5514	210	20	among	among	ADP
ajase-5514	210	21	the	the	DET
ajase-5514	210	22	estimated	estimate	VERB
ajase-5514	210	23	ssms	ssm	NOUN
ajase-5514	210	24	at	at	ADP
ajase-5514	210	25	sample	sample	NOUN
ajase-5514	210	26	size	size	NOUN
ajase-5514	210	27	70	70	NUM
ajase-5514	210	28	.	.	PUNCT
ajase-5514	211	1	subsequently	subsequently	ADV
ajase-5514	211	2	,	,	PUNCT
ajase-5514	211	3	table	table	NOUN
ajase-5514	211	4	4	4	NUM
ajase-5514	211	5	depicts	depict	VERB
ajase-5514	211	6	the	the	DET
ajase-5514	211	7	transition	transition	NOUN
ajase-5514	211	8	probabilities	probability	NOUN
ajase-5514	211	9	for	for	ADP
ajase-5514	211	10	the	the	DET
ajase-5514	211	11	two	two	NUM
ajase-5514	211	12	identified	identify	VERB
ajase-5514	211	13	states	state	NOUN
ajase-5514	211	14	(	(	PUNCT
ajase-5514	211	15	namely	namely	ADV
ajase-5514	211	16	bull	bull	NOUN
ajase-5514	211	17	and	and	CCONJ
ajase-5514	211	18	bear	bear	NOUN
ajase-5514	211	19	)	)	PUNCT
ajase-5514	211	20	.	.	PUNCT
ajase-5514	212	1	the	the	DET
ajase-5514	212	2	transition	transition	NOUN
ajase-5514	212	3	probabilities	probability	NOUN
ajase-5514	212	4	for	for	ADP
ajase-5514	212	5	mlpssm	mlpssm	NOUN
ajase-5514	212	6	model	model	NOUN
ajase-5514	212	7	show	show	VERB
ajase-5514	212	8	that	that	SCONJ
ajase-5514	212	9	there	there	PRON
ajase-5514	212	10	is	be	VERB
ajase-5514	212	11	a	a	DET
ajase-5514	212	12	high	high	ADJ
ajase-5514	212	13	probability	probability	NOUN
ajase-5514	212	14	that	that	SCONJ
ajase-5514	212	15	the	the	DET
ajase-5514	212	16	market	market	NOUN
ajase-5514	212	17	returns	return	NOUN
ajase-5514	212	18	’	'	PUNCT
ajase-5514	212	19	system	system	NOUN
ajase-5514	212	20	remains	remain	VERB
ajase-5514	212	21	in	in	ADP
ajase-5514	212	22	the	the	DET
ajase-5514	212	23	same	same	ADJ
ajase-5514	212	24	state	state	NOUN
ajase-5514	212	25	hence	hence	ADV
ajase-5514	212	26	implying	imply	VERB
ajase-5514	212	27	low	low	ADJ
ajase-5514	212	28	or	or	CCONJ
ajase-5514	212	29	limited	limited	ADJ
ajase-5514	212	30	switches	switch	NOUN
ajase-5514	212	31	in	in	ADP
ajase-5514	212	32	the	the	DET
ajase-5514	212	33	bull	bull	NOUN
ajase-5514	212	34	state	state	NOUN
ajase-5514	212	35	and	and	CCONJ
ajase-5514	212	36	bear	bear	VERB
ajase-5514	212	37	state	state	NOUN
ajase-5514	212	38	.	.	PUNCT
ajase-5514	213	1	explicitly	explicitly	ADV
ajase-5514	213	2	,	,	PUNCT
ajase-5514	213	3	the	the	DET
ajase-5514	213	4	results	result	NOUN
ajase-5514	213	5	indicate	indicate	VERB
ajase-5514	213	6	that	that	SCONJ
ajase-5514	213	7	the	the	DET
ajase-5514	213	8	mlpssm	mlpssm	NOUN
ajase-5514	213	9	has	have	VERB
ajase-5514	213	10	an	an	DET
ajase-5514	213	11	86	86	NUM
ajase-5514	213	12	%	%	NOUN
ajase-5514	213	13	probability	probability	NOUN
ajase-5514	213	14	of	of	ADP
ajase-5514	213	15	staying	stay	VERB
ajase-5514	213	16	in	in	ADP
ajase-5514	213	17	the	the	DET
ajase-5514	213	18	bull	bull	NOUN
ajase-5514	213	19	state	state	NOUN
ajase-5514	213	20	and	and	CCONJ
ajase-5514	213	21	a	a	DET
ajase-5514	213	22	14	14	NUM
ajase-5514	213	23	%	%	NOUN
ajase-5514	213	24	probability	probability	NOUN
ajase-5514	213	25	of	of	ADP
ajase-5514	213	26	switching	switch	VERB
ajase-5514	213	27	to	to	ADP
ajase-5514	213	28	the	the	DET
ajase-5514	213	29	bear	bear	NOUN
ajase-5514	213	30	state	state	NOUN
ajase-5514	213	31	.	.	PUNCT
ajase-5514	214	1	when	when	SCONJ
ajase-5514	214	2	the	the	DET
ajase-5514	214	3	system	system	NOUN
ajase-5514	214	4	is	be	AUX
ajase-5514	214	5	in	in	ADP
ajase-5514	214	6	a	a	DET
ajase-5514	214	7	bear	bear	NOUN
ajase-5514	214	8	pa	pa	PROPN
ajase-5514	214	9	ge	ge	PROPN
ajase-5514	214	10	10	10	NUM
ajase-5514	214	11	2	2	NUM
ajase-5514	214	12	https://journals.e-palli.com/home/index.php/ajase	https://journals.e-palli.com/home/index.php/ajase	PROPN
ajase-5514	214	13	am	am	NOUN
ajase-5514	214	14	.	.	PUNCT
ajase-5514	215	1	j.	j.	PROPN
ajase-5514	215	2	appl	appl	PROPN
ajase-5514	215	3	.	.	PROPN
ajase-5514	216	1	stat	stat	PROPN
ajase-5514	216	2	.	.	PUNCT
ajase-5514	217	1	econ	econ	PROPN
ajase-5514	217	2	.	.	PUNCT
ajase-5514	218	1	4(1	4(1	X
ajase-5514	218	2	)	)	PUNCT
ajase-5514	218	3	94	94	NUM
ajase-5514	218	4	-	-	SYM
ajase-5514	218	5	107	107	NUM
ajase-5514	218	6	,	,	PUNCT
ajase-5514	218	7	2025	2025	NUM
ajase-5514	218	8	state	state	NOUN
ajase-5514	219	1	,	,	PUNCT
ajase-5514	219	2	it	it	PRON
ajase-5514	219	3	has	have	VERB
ajase-5514	219	4	a	a	DET
ajase-5514	219	5	65	65	NUM
ajase-5514	219	6	%	%	NOUN
ajase-5514	219	7	probability	probability	NOUN
ajase-5514	219	8	of	of	ADP
ajase-5514	219	9	remaining	remain	VERB
ajase-5514	219	10	in	in	ADP
ajase-5514	219	11	bear	bear	NOUN
ajase-5514	219	12	state	state	NOUN
ajase-5514	219	13	and	and	CCONJ
ajase-5514	219	14	lower	low	ADJ
ajase-5514	219	15	probability	probability	NOUN
ajase-5514	219	16	of	of	ADP
ajase-5514	219	17	35	35	NUM
ajase-5514	219	18	%	%	NOUN
ajase-5514	219	19	to	to	PART
ajase-5514	219	20	switch	switch	VERB
ajase-5514	219	21	to	to	ADP
ajase-5514	219	22	bull	bull	NOUN
ajase-5514	219	23	state	state	NOUN
ajase-5514	219	24	.	.	PUNCT
ajase-5514	220	1	the	the	DET
ajase-5514	220	2	transition	transition	NOUN
ajase-5514	220	3	probability	probability	NOUN
ajase-5514	220	4	results	result	NOUN
ajase-5514	220	5	highlighted	highlight	VERB
ajase-5514	220	6	shows	show	VERB
ajase-5514	220	7	that	that	SCONJ
ajase-5514	220	8	only	only	ADV
ajase-5514	220	9	extreme	extreme	ADJ
ajase-5514	220	10	/	/	SYM
ajase-5514	220	11	great	great	ADJ
ajase-5514	220	12	events	event	NOUN
ajase-5514	220	13	can	can	AUX
ajase-5514	220	14	switch	switch	VERB
ajase-5514	220	15	the	the	DET
ajase-5514	220	16	returns	return	NOUN
ajase-5514	220	17	between	between	ADP
ajase-5514	220	18	states	state	NOUN
ajase-5514	220	19	i.e.	i.e.	X
ajase-5514	220	20	state	state	PROPN
ajase-5514	220	21	1(bull	1(bull	NUM
ajase-5514	220	22	phase	phase	NOUN
ajase-5514	220	23	)	)	PUNCT
ajase-5514	220	24	to	to	PART
ajase-5514	220	25	state	state	NOUN
ajase-5514	220	26	2	2	NUM
ajase-5514	220	27	(	(	PUNCT
ajase-5514	220	28	bear	bear	NOUN
ajase-5514	220	29	phase	phase	NOUN
ajase-5514	220	30	)	)	PUNCT
ajase-5514	220	31	or	or	CCONJ
ajase-5514	220	32	vice	vice	NOUN
ajase-5514	220	33	versa	versa	ADV
ajase-5514	220	34	,	,	PUNCT
ajase-5514	220	35	(	(	PUNCT
ajase-5514	220	36	see	see	VERB
ajase-5514	220	37	figure	figure	NOUN
ajase-5514	220	38	6	6	NUM
ajase-5514	220	39	)	)	PUNCT
ajase-5514	220	40	.	.	PUNCT
ajase-5514	221	1	these	these	DET
ajase-5514	221	2	results	result	NOUN
ajase-5514	221	3	therefore	therefore	ADV
ajase-5514	221	4	,	,	PUNCT
ajase-5514	221	5	indicate	indicate	VERB
ajase-5514	221	6	that	that	SCONJ
ajase-5514	221	7	no	no	DET
ajase-5514	221	8	any	any	PRON
ajase-5514	221	9	of	of	ADP
ajase-5514	221	10	the	the	DET
ajase-5514	221	11	state	state	NOUN
ajase-5514	221	12	is	be	AUX
ajase-5514	221	13	lasting	last	VERB
ajase-5514	221	14	since	since	SCONJ
ajase-5514	221	15	all	all	DET
ajase-5514	221	16	transition	transition	NOUN
ajase-5514	221	17	probabilities	probability	NOUN
ajase-5514	221	18	are	be	AUX
ajase-5514	221	19	below	below	ADP
ajase-5514	221	20	one	one	NUM
ajase-5514	221	21	.	.	PUNCT
ajase-5514	222	1	table	table	NOUN
ajase-5514	222	2	4	4	NUM
ajase-5514	222	3	:	:	PUNCT
ajase-5514	222	4	summary	summary	NOUN
ajase-5514	222	5	of	of	ADP
ajase-5514	222	6	models	model	NOUN
ajase-5514	222	7	estimations	estimation	NOUN
ajase-5514	222	8	at	at	ADP
ajase-5514	222	9	70	70	NUM
ajase-5514	222	10	sample	sample	NOUN
ajase-5514	222	11	size	size	NOUN
ajase-5514	222	12	ssm	ssm	PROPN
ajase-5514	222	13	rnnssm	rnnssm	VERB
ajase-5514	222	14	rbfssm	rbfssm	PROPN
ajase-5514	222	15	grnnssm	grnnssm	NOUN
ajase-5514	222	16	mlpssm	mlpssm	PROPN
ajase-5514	222	17	regime	regime	NOUN
ajase-5514	222	18	1	1	NUM
ajase-5514	222	19	intercept	intercept	NOUN
ajase-5514	222	20	0.0330	0.0330	NUM
ajase-5514	222	21	*	*	NOUN
ajase-5514	222	22	0.0509	0.0509	NUM
ajase-5514	222	23	4.32	4.32	NUM
ajase-5514	222	24	+	+	NUM
ajase-5514	222	25	02	02	NUM
ajase-5514	222	26	*	*	NUM
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ajase-5514	222	28	*	*	PUNCT
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ajase-5514	223	1	rbf=	rbf=	PROPN
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ajase-5514	223	5	mlp=12597.9	mlp=12597.9	NOUN
ajase-5514	223	6	regime	regime	NOUN
ajase-5514	223	7	2	2	NUM
ajase-5514	223	8	intercept	intercept	NOUN
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ajase-5514	223	10	*	*	PROPN
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ajase-5514	223	12	*	*	PUNCT
ajase-5514	223	13	3.36e+02	3.36e+02	NUM
ajase-5514	223	14	*	*	NUM
ajase-5514	223	15	0.0117	0.0117	NUM
ajase-5514	224	1	-12094.81	-12094.81	NUM
ajase-5514	224	2	training_network	training_network	NUM
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ajase-5514	224	4	*	*	PUNCT
ajase-5514	224	5	rbf=	rbf=	PROPN
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ajase-5514	224	7	*	*	PROPN
ajase-5514	224	8	grnn=-4.0712	grnn=-4.0712	PROPN
ajase-5514	224	9	mlp=12114.5	mlp=12114.5	PROPN
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ajase-5514	224	11	prob	prob	PROPN
ajase-5514	224	12	.	.	PUNCT
ajase-5514	225	1	state	state	NOUN
ajase-5514	225	2	1	1	NUM
ajase-5514	225	3	state	state	NOUN
ajase-5514	225	4	2	2	NUM
ajase-5514	225	5	0.8561	0.8561	NUM
ajase-5514	225	6	0.6539	0.6539	NUM
ajase-5514	225	7	0.9024	0.9024	NUM
ajase-5514	225	8	0.7165	0.7165	NUM
ajase-5514	226	1	0.5097	0.5097	NUM
ajase-5514	226	2	0.1724	0.1724	NUM
ajase-5514	226	3	0.0079	0.0079	NUM
ajase-5514	226	4	0.5004	0.5004	NUM
ajase-5514	226	5	0.8610	0.8610	NUM
ajase-5514	226	6	0.6472	0.6472	NUM
ajase-5514	226	7	state	state	NOUN
ajase-5514	226	8	2	2	NUM
ajase-5514	226	9	state	state	NOUN
ajase-5514	226	10	1	1	NUM
ajase-5514	226	11	0.1439	0.1439	NUM
ajase-5514	226	12	0.3461	0.3461	NUM
ajase-5514	226	13	0.0976	0.0976	NUM
ajase-5514	226	14	0.2835	0.2835	NUM
ajase-5514	226	15	0.4903	0.4903	NUM
ajase-5514	226	16	0.8276	0.8276	NUM
ajase-5514	226	17	0.9921	0.9921	NUM
ajase-5514	226	18	0.4996	0.4996	NUM
ajase-5514	226	19	0.1390	0.1390	NUM
ajase-5514	226	20	0.3528	0.3528	NUM
ajase-5514	226	21	aic	aic	PROPN
ajase-5514	226	22	-140.2999	-140.2999	PROPN
ajase-5514	226	23	-153.0316	-153.0316	PROPN
ajase-5514	226	24	-320.2873	-320.2873	ADP
ajase-5514	226	25	-133.6245	-133.6245	PROPN
ajase-5514	226	26	-659.263	-659.263	PROPN
ajase-5514	226	27	loglik	loglik	NOUN
ajase-5514	226	28	72.1499	72.1499	NUM
ajase-5514	226	29	80.51579	80.51579	NUM
ajase-5514	226	30	164.1436	164.1436	NUM
ajase-5514	226	31	70.8122	70.8122	NUM
ajase-5514	226	32	333.6315	333.6315	NUM
ajase-5514	226	33	note	note	NOUN
ajase-5514	226	34	:	:	PUNCT
ajase-5514	226	35	*	*	PUNCT
ajase-5514	226	36	denotes	denote	NOUN
ajase-5514	226	37	significant	significant	ADJ
ajase-5514	226	38	at	at	ADP
ajase-5514	226	39	0.05	0.05	NUM
ajase-5514	226	40	level	level	NOUN
ajase-5514	226	41	source	source	NOUN
ajase-5514	226	42	:	:	PUNCT
ajase-5514	226	43	researchers	researcher	NOUN
ajase-5514	226	44	’	'	PUNCT
ajase-5514	226	45	compilations	compilation	NOUN
ajase-5514	226	46	from	from	ADP
ajase-5514	226	47	r	r	NOUN
ajase-5514	226	48	-	-	PUNCT
ajase-5514	226	49	output	output	NOUN
ajase-5514	226	50	figure	figure	NOUN
ajase-5514	226	51	6	6	NUM
ajase-5514	226	52	:	:	PUNCT
ajase-5514	226	53	models	model	NOUN
ajase-5514	226	54	’	'	PUNCT
ajase-5514	226	55	transition	transition	NOUN
ajase-5514	226	56	probabilities	probability	NOUN
ajase-5514	226	57	of	of	ADP
ajase-5514	226	58	returns	return	NOUN
ajase-5514	226	59	at	at	ADP
ajase-5514	226	60	sample	sample	NOUN
ajase-5514	226	61	size	size	NOUN
ajase-5514	226	62	70	70	NUM
ajase-5514	226	63	pa	pa	PROPN
ajase-5514	226	64	ge	ge	PROPN
ajase-5514	226	65	10	10	NUM
ajase-5514	226	66	3	3	NUM
ajase-5514	226	67	https://journals.e-palli.com/home/index.php/ajase	https://journals.e-palli.com/home/index.php/ajase	PROPN
ajase-5514	226	68	am	am	NOUN
ajase-5514	226	69	.	.	PUNCT
ajase-5514	227	1	j.	j.	PROPN
ajase-5514	227	2	appl	appl	PROPN
ajase-5514	227	3	.	.	PROPN
ajase-5514	228	1	stat	stat	PROPN
ajase-5514	228	2	.	.	PUNCT
ajase-5514	229	1	econ	econ	PROPN
ajase-5514	229	2	.	.	PUNCT
ajase-5514	230	1	4(1	4(1	X
ajase-5514	230	2	)	)	PUNCT
ajase-5514	230	3	94	94	NUM
ajase-5514	230	4	-	-	SYM
ajase-5514	230	5	107	107	NUM
ajase-5514	230	6	,	,	PUNCT
ajase-5514	230	7	2025	2025	NUM
ajase-5514	230	8	to	to	PART
ajase-5514	230	9	conclude	conclude	VERB
ajase-5514	230	10	,	,	PUNCT
ajase-5514	230	11	table	table	NOUN
ajase-5514	230	12	5	5	NUM
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ajase-5514	230	14	the	the	DET
ajase-5514	230	15	summary	summary	NOUN
ajase-5514	230	16	of	of	ADP
ajase-5514	230	17	models	model	NOUN
ajase-5514	230	18	’	'	PUNCT
ajase-5514	230	19	estimations	estimation	NOUN
ajase-5514	230	20	for	for	ADP
ajase-5514	230	21	the	the	DET
ajase-5514	230	22	simulated	simulate	VERB
ajase-5514	230	23	market	market	NOUN
ajase-5514	230	24	returns	return	NOUN
ajase-5514	230	25	at	at	ADP
ajase-5514	230	26	sample	sample	NOUN
ajase-5514	230	27	size	size	NOUN
ajase-5514	230	28	of	of	ADP
ajase-5514	230	29	100	100	NUM
ajase-5514	230	30	.	.	PUNCT
ajase-5514	231	1	table	table	NOUN
ajase-5514	231	2	5	5	NUM
ajase-5514	231	3	depicts	depict	VERB
ajase-5514	231	4	mlpssm	mlpssm	NOUN
ajase-5514	231	5	and	and	CCONJ
ajase-5514	231	6	rbfssm	rbfssm	NOUN
ajase-5514	231	7	returned	return	VERB
ajase-5514	231	8	with	with	ADP
ajase-5514	231	9	the	the	DET
ajase-5514	231	10	least	least	ADJ
ajase-5514	231	11	aic	aic	PROPN
ajase-5514	231	12	values	value	NOUN
ajase-5514	231	13	of	of	ADP
ajase-5514	231	14	-594.7593	-594.7593	NUM
ajase-5514	231	15	and	and	CCONJ
ajase-5514	231	16	-387.7917	-387.7917	NOUN
ajase-5514	231	17	respectively	respectively	ADV
ajase-5514	231	18	as	as	ADV
ajase-5514	231	19	well	well	ADV
ajase-5514	231	20	as	as	ADP
ajase-5514	231	21	higher	high	ADJ
ajase-5514	231	22	log	log	NOUN
ajase-5514	231	23	-	-	PUNCT
ajase-5514	231	24	likelihood	likelihood	NOUN
ajase-5514	231	25	values	value	NOUN
ajase-5514	231	26	of	of	ADP
ajase-5514	231	27	301.3796	301.3796	NUM
ajase-5514	231	28	and	and	CCONJ
ajase-5514	231	29	197.8958	197.8958	NUM
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ajase-5514	231	31	.	.	PUNCT
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ajase-5514	232	2	,	,	PUNCT
ajase-5514	232	3	the	the	DET
ajase-5514	232	4	results	result	NOUN
ajase-5514	232	5	returned	return	VERB
ajase-5514	232	6	mlpssm	mlpssm	NOUN
ajase-5514	232	7	with	with	ADP
ajase-5514	232	8	lowest	low	ADJ
ajase-5514	232	9	aic	aic	PROPN
ajase-5514	232	10	and	and	CCONJ
ajase-5514	232	11	highest	high	ADJ
ajase-5514	232	12	log	log	NOUN
ajase-5514	232	13	-	-	PUNCT
ajase-5514	232	14	likelihood	likelihood	NOUN
ajase-5514	232	15	as	as	ADP
ajase-5514	232	16	the	the	DET
ajase-5514	232	17	most	most	ADV
ajase-5514	232	18	parsimonious	parsimonious	ADJ
ajase-5514	232	19	model	model	NOUN
ajase-5514	232	20	among	among	ADP
ajase-5514	232	21	the	the	DET
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ajase-5514	232	23	ssms	ssm	NOUN
ajase-5514	232	24	at	at	ADP
ajase-5514	232	25	sample	sample	NOUN
ajase-5514	232	26	size	size	NOUN
ajase-5514	232	27	100	100	NUM
ajase-5514	232	28	.	.	PUNCT
ajase-5514	232	29	table	table	NOUN
ajase-5514	232	30	5	5	NUM
ajase-5514	232	31	:	:	PUNCT
ajase-5514	232	32	summary	summary	NOUN
ajase-5514	232	33	of	of	ADP
ajase-5514	232	34	models	model	NOUN
ajase-5514	232	35	estimations	estimation	NOUN
ajase-5514	232	36	at	at	ADP
ajase-5514	232	37	100	100	NUM
ajase-5514	232	38	sample	sample	NOUN
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ajase-5514	232	40	ssm	ssm	PROPN
ajase-5514	232	41	rnnssm	rnnssm	VERB
ajase-5514	232	42	rbfssm	rbfssm	PROPN
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ajase-5514	232	44	mlpssm	mlpssm	PROPN
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ajase-5514	232	46	1	1	NUM
ajase-5514	232	47	intercept	intercept	NOUN
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ajase-5514	233	3	02	02	NUM
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ajase-5514	233	8	*	*	PUNCT
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ajase-5514	233	10	rnn=	rnn=	PROPN
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ajase-5514	233	13	rbf=	rbf=	PROPN
ajase-5514	233	14	-2.5e+07	-2.5e+07	PROPN
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ajase-5514	233	17	*	*	ADJ
ajase-5514	233	18	mlp=114617.88	mlp=114617.88	NOUN
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ajase-5514	233	20	2	2	NUM
ajase-5514	233	21	intercept	intercept	NOUN
ajase-5514	233	22	-0.0100	-0.0100	ADJ
ajase-5514	233	23	0.1085	0.1085	NUM
ajase-5514	233	24	*	*	PUNCT
ajase-5514	234	1	-8.82e+02	-8.82e+02	PRON
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ajase-5514	235	2	training_network	training_network	NOUN
ajase-5514	235	3	rnn=-0.2464	rnn=-0.2464	ADV
ajase-5514	235	4	rbf=	rbf=	PROPN
ajase-5514	235	5	3.53e+07	3.53e+07	PROPN
ajase-5514	235	6	*	*	PROPN
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ajase-5514	235	9	transition	transition	PROPN
ajase-5514	235	10	prob	prob	PROPN
ajase-5514	235	11	.	.	PUNCT
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ajase-5514	236	2	1	1	NUM
ajase-5514	236	3	state	state	NOUN
ajase-5514	236	4	2	2	NUM
ajase-5514	236	5	0.5108	0.5108	NUM
ajase-5514	236	6	0.7283	0.7283	NUM
ajase-5514	236	7	0.3991	0.3991	NUM
ajase-5514	236	8	0.3916	0.3916	NUM
ajase-5514	236	9	0.6214	0.6214	NUM
ajase-5514	236	10	0.7046	0.7046	NUM
ajase-5514	236	11	1.4e-07	1.4e-07	NUM
ajase-5514	236	12	0.1696	0.1696	NUM
ajase-5514	236	13	0.5705	0.5705	NUM
ajase-5514	236	14	0.5839	0.5839	NUM
ajase-5514	236	15	state	state	NOUN
ajase-5514	236	16	2	2	NUM
ajase-5514	236	17	state	state	NOUN
ajase-5514	236	18	1	1	NUM
ajase-5514	236	19	0.4892	0.4892	NUM
ajase-5514	236	20	0.2717	0.2717	NUM
ajase-5514	236	21	0.6009	0.6009	NUM
ajase-5514	236	22	0.6084	0.6084	NUM
ajase-5514	236	23	03786	03786	NUM
ajase-5514	236	24	0.2954	0.2954	NUM
ajase-5514	236	25	0.9999	0.9999	NUM
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ajase-5514	236	27	0.4295	0.4295	NUM
ajase-5514	236	28	0.4160	0.4160	NUM
ajase-5514	236	29	aic	aic	PROPN
ajase-5514	236	30	-223.3181	-223.3181	PROPN
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ajase-5514	236	32	-387.7917	-387.7917	NUM
ajase-5514	237	1	-218.4201	-218.4201	NUM
ajase-5514	237	2	-594.7593	-594.7593	NOUN
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ajase-5514	237	6	197.8958	197.8958	NUM
ajase-5514	237	7	113.2101	113.2101	NUM
ajase-5514	237	8	301.3796	301.3796	NUM
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ajase-5514	237	17	source	source	NOUN
ajase-5514	237	18	:	:	PUNCT
ajase-5514	237	19	researchers	researcher	NOUN
ajase-5514	237	20	’	'	PUNCT
ajase-5514	237	21	compilations	compilation	NOUN
ajase-5514	237	22	from	from	ADP
ajase-5514	237	23	r	r	NOUN
ajase-5514	237	24	-	-	PUNCT
ajase-5514	237	25	output	output	NOUN
ajase-5514	237	26	figure	figure	NOUN
ajase-5514	237	27	7	7	NUM
ajase-5514	237	28	:	:	PUNCT
ajase-5514	237	29	models	model	NOUN
ajase-5514	237	30	’	'	PUNCT
ajase-5514	237	31	transition	transition	NOUN
ajase-5514	237	32	probabilities	probability	NOUN
ajase-5514	237	33	of	of	ADP
ajase-5514	237	34	returns	return	NOUN
ajase-5514	237	35	at	at	ADP
ajase-5514	237	36	sample	sample	NOUN
ajase-5514	237	37	size	size	NOUN
ajase-5514	237	38	100	100	NUM
ajase-5514	237	39	subsequently	subsequently	ADV
ajase-5514	237	40	table	table	VERB
ajase-5514	237	41	5	5	NUM
ajase-5514	237	42	depicts	depict	VERB
ajase-5514	237	43	the	the	DET
ajase-5514	237	44	transition	transition	NOUN
ajase-5514	237	45	probabilities	probability	NOUN
ajase-5514	237	46	for	for	ADP
ajase-5514	237	47	the	the	DET
ajase-5514	237	48	two	two	NUM
ajase-5514	237	49	identified	identify	VERB
ajase-5514	237	50	states	state	NOUN
ajase-5514	237	51	(	(	PUNCT
ajase-5514	237	52	namely	namely	ADV
ajase-5514	237	53	bull	bull	NOUN
ajase-5514	237	54	and	and	CCONJ
ajase-5514	237	55	bear	bear	NOUN
ajase-5514	237	56	)	)	PUNCT
ajase-5514	237	57	.	.	PUNCT
ajase-5514	238	1	the	the	DET
ajase-5514	238	2	transition	transition	NOUN
ajase-5514	238	3	probabilities	probability	NOUN
ajase-5514	238	4	for	for	ADP
ajase-5514	238	5	mlpssm	mlpssm	NOUN
ajase-5514	238	6	model	model	NOUN
ajase-5514	238	7	show	show	VERB
ajase-5514	238	8	that	that	SCONJ
ajase-5514	238	9	there	there	PRON
ajase-5514	238	10	is	be	VERB
ajase-5514	238	11	a	a	DET
ajase-5514	238	12	fair	fair	ADJ
ajase-5514	238	13	probability	probability	NOUN
ajase-5514	238	14	that	that	SCONJ
ajase-5514	238	15	the	the	DET
ajase-5514	238	16	market	market	NOUN
ajase-5514	238	17	returns	return	NOUN
ajase-5514	238	18	’	'	PUNCT
ajase-5514	238	19	system	system	NOUN
ajase-5514	238	20	remains	remain	VERB
ajase-5514	238	21	in	in	ADP
ajase-5514	238	22	the	the	DET
ajase-5514	238	23	same	same	ADJ
ajase-5514	238	24	state	state	NOUN
ajase-5514	238	25	hence	hence	ADV
ajase-5514	238	26	implying	imply	VERB
ajase-5514	238	27	almost	almost	ADV
ajase-5514	238	28	equal	equal	ADJ
ajase-5514	238	29	chances	chance	NOUN
ajase-5514	238	30	of	of	ADP
ajase-5514	238	31	state	state	NOUN
ajase-5514	238	32	switching	switching	NOUN
ajase-5514	238	33	.	.	PUNCT
ajase-5514	239	1	explicitly	explicitly	ADV
ajase-5514	239	2	,	,	PUNCT
ajase-5514	239	3	the	the	DET
ajase-5514	239	4	results	result	NOUN
ajase-5514	239	5	indicate	indicate	VERB
ajase-5514	239	6	that	that	SCONJ
ajase-5514	239	7	the	the	DET
ajase-5514	239	8	mlpssm	mlpssm	NOUN
ajase-5514	239	9	has	have	VERB
ajase-5514	239	10	an	an	DET
ajase-5514	239	11	57	57	NUM
ajase-5514	239	12	%	%	NOUN
ajase-5514	239	13	probability	probability	NOUN
ajase-5514	239	14	of	of	ADP
ajase-5514	239	15	staying	stay	VERB
ajase-5514	239	16	in	in	ADP
ajase-5514	239	17	the	the	DET
ajase-5514	239	18	bull	bull	NOUN
ajase-5514	239	19	state	state	NOUN
ajase-5514	239	20	and	and	CCONJ
ajase-5514	239	21	a	a	DET
ajase-5514	239	22	43	43	NUM
ajase-5514	239	23	%	%	NOUN
ajase-5514	239	24	probability	probability	NOUN
ajase-5514	239	25	of	of	ADP
ajase-5514	239	26	switching	switch	VERB
ajase-5514	239	27	to	to	ADP
ajase-5514	239	28	the	the	DET
ajase-5514	239	29	bear	bear	NOUN
ajase-5514	239	30	state	state	NOUN
ajase-5514	239	31	.	.	PUNCT
ajase-5514	240	1	when	when	SCONJ
ajase-5514	240	2	the	the	DET
ajase-5514	240	3	system	system	NOUN
ajase-5514	240	4	is	be	AUX
ajase-5514	240	5	in	in	ADP
ajase-5514	240	6	a	a	DET
ajase-5514	240	7	bear	bear	NOUN
ajase-5514	240	8	state	state	NOUN
ajase-5514	240	9	,	,	PUNCT
ajase-5514	240	10	it	it	PRON
ajase-5514	240	11	has	have	VERB
ajase-5514	240	12	a	a	DET
ajase-5514	240	13	58	58	NUM
ajase-5514	240	14	%	%	NOUN
ajase-5514	240	15	probability	probability	NOUN
ajase-5514	240	16	of	of	ADP
ajase-5514	240	17	remaining	remain	VERB
ajase-5514	240	18	in	in	ADP
ajase-5514	240	19	bear	bear	NOUN
ajase-5514	240	20	state	state	NOUN
ajase-5514	240	21	and	and	CCONJ
ajase-5514	240	22	lower	low	ADJ
ajase-5514	240	23	probability	probability	NOUN
ajase-5514	240	24	of	of	ADP
ajase-5514	240	25	42	42	NUM
ajase-5514	240	26	%	%	NOUN
ajase-5514	240	27	to	to	PART
ajase-5514	240	28	switch	switch	VERB
ajase-5514	240	29	to	to	ADP
ajase-5514	240	30	bull	bull	NOUN
ajase-5514	240	31	state	state	NOUN
ajase-5514	240	32	.	.	PUNCT
ajase-5514	241	1	the	the	DET
ajase-5514	241	2	transition	transition	NOUN
ajase-5514	241	3	probability	probability	NOUN
ajase-5514	241	4	results	result	NOUN
ajase-5514	241	5	highlighted	highlight	VERB
ajase-5514	241	6	shows	show	VERB
ajase-5514	241	7	that	that	SCONJ
ajase-5514	241	8	either	either	CCONJ
ajase-5514	241	9	weak	weak	ADJ
ajase-5514	241	10	or	or	CCONJ
ajase-5514	241	11	extreme/	extreme/	NUM
ajase-5514	241	12	great	great	ADJ
ajase-5514	241	13	events	event	NOUN
ajase-5514	241	14	can	can	AUX
ajase-5514	241	15	switch	switch	VERB
ajase-5514	241	16	the	the	DET
ajase-5514	241	17	returns	return	NOUN
ajase-5514	241	18	between	between	ADP
ajase-5514	241	19	states	state	NOUN
ajase-5514	241	20	i.e.	i.e.	X
ajase-5514	241	21	state	state	PROPN
ajase-5514	241	22	1(bull	1(bull	NUM
ajase-5514	241	23	phase	phase	NOUN
ajase-5514	241	24	)	)	PUNCT
ajase-5514	241	25	to	to	PART
ajase-5514	241	26	state	state	NOUN
ajase-5514	241	27	2	2	NUM
ajase-5514	241	28	(	(	PUNCT
ajase-5514	241	29	bear	bear	NOUN
ajase-5514	241	30	phase	phase	NOUN
ajase-5514	241	31	)	)	PUNCT
ajase-5514	241	32	or	or	CCONJ
ajase-5514	241	33	vice	vice	NOUN
ajase-5514	241	34	versa	versa	ADV
ajase-5514	241	35	,	,	PUNCT
ajase-5514	241	36	(	(	PUNCT
ajase-5514	241	37	figure	figure	NOUN
ajase-5514	241	38	7	7	NUM
ajase-5514	241	39	)	)	PUNCT
ajase-5514	241	40	.	.	PUNCT
ajase-5514	242	1	these	these	DET
ajase-5514	242	2	results	result	NOUN
ajase-5514	242	3	also	also	ADV
ajase-5514	242	4	,	,	PUNCT
ajase-5514	242	5	indicate	indicate	VERB
ajase-5514	242	6	that	that	SCONJ
ajase-5514	242	7	no	no	DET
ajase-5514	242	8	any	any	PRON
ajase-5514	242	9	of	of	ADP
ajase-5514	242	10	the	the	DET
ajase-5514	242	11	state	state	NOUN
ajase-5514	242	12	is	be	AUX
ajase-5514	242	13	lasting	last	VERB
ajase-5514	242	14	since	since	SCONJ
ajase-5514	242	15	all	all	DET
ajase-5514	242	16	transition	transition	NOUN
ajase-5514	242	17	probabilities	probability	NOUN
ajase-5514	242	18	are	be	AUX
ajase-5514	242	19	less	less	ADJ
ajase-5514	242	20	than	than	ADP
ajase-5514	242	21	one	one	NUM
ajase-5514	242	22	.	.	PUNCT
ajase-5514	243	1	pa	pa	PROPN
ajase-5514	243	2	ge	ge	PROPN
ajase-5514	243	3	10	10	NUM
ajase-5514	243	4	4	4	NUM
ajase-5514	243	5	https://journals.e-palli.com/home/index.php/ajase	https://journals.e-palli.com/home/index.php/ajase	PROPN
ajase-5514	243	6	am	am	NOUN
ajase-5514	243	7	.	.	PUNCT
ajase-5514	244	1	j.	j.	PROPN
ajase-5514	244	2	appl	appl	PROPN
ajase-5514	244	3	.	.	PROPN
ajase-5514	245	1	stat	stat	PROPN
ajase-5514	245	2	.	.	PUNCT
ajase-5514	246	1	econ	econ	PROPN
ajase-5514	246	2	.	.	PUNCT
ajase-5514	247	1	4(1	4(1	X
ajase-5514	247	2	)	)	PUNCT
ajase-5514	247	3	94	94	NUM
ajase-5514	247	4	-	-	SYM
ajase-5514	247	5	107	107	NUM
ajase-5514	247	6	,	,	PUNCT
ajase-5514	247	7	2025	2025	NUM
ajase-5514	247	8	consequently	consequently	ADV
ajase-5514	247	9	,	,	PUNCT
ajase-5514	247	10	figures	figure	NOUN
ajase-5514	247	11	8	8	NUM
ajase-5514	247	12	and	and	CCONJ
ajase-5514	247	13	9	9	NUM
ajase-5514	247	14	present	present	ADJ
ajase-5514	247	15	line	line	NOUN
ajase-5514	247	16	plots	plot	NOUN
ajase-5514	247	17	for	for	ADP
ajase-5514	247	18	each	each	PRON
ajase-5514	247	19	of	of	ADP
ajase-5514	247	20	the	the	DET
ajase-5514	247	21	models	model	NOUN
ajase-5514	247	22	’	'	PUNCT
ajase-5514	247	23	aic	aic	PROPN
ajase-5514	247	24	and	and	CCONJ
ajase-5514	247	25	log	log	NOUN
ajase-5514	247	26	-	-	PUNCT
ajase-5514	247	27	likelihood	likelihood	NOUN
ajase-5514	247	28	estimates	estimate	NOUN
ajase-5514	247	29	,	,	PUNCT
ajase-5514	247	30	respectively	respectively	ADV
ajase-5514	247	31	.	.	PUNCT
ajase-5514	248	1	as	as	SCONJ
ajase-5514	248	2	observed	observe	VERB
ajase-5514	248	3	from	from	ADP
ajase-5514	248	4	the	the	DET
ajase-5514	248	5	figures	figure	NOUN
ajase-5514	248	6	,	,	PUNCT
ajase-5514	248	7	two	two	NUM
ajase-5514	248	8	out	out	ADP
ajase-5514	248	9	of	of	ADP
ajase-5514	248	10	four	four	NUM
ajase-5514	248	11	introduced	introduce	VERB
ajase-5514	248	12	novel	novel	NOUN
ajase-5514	248	13	models	model	NOUN
ajase-5514	248	14	i.e.	i.e.	X
ajase-5514	248	15	rbfssm	rbfssm	ADJ
ajase-5514	248	16	and	and	CCONJ
ajase-5514	248	17	mlpssm	mlpssm	NOUN
ajase-5514	248	18	outperformed	outperform	VERB
ajase-5514	248	19	the	the	DET
ajase-5514	248	20	traditional	traditional	ADJ
ajase-5514	248	21	ssm	ssm	NOUN
ajase-5514	248	22	and	and	CCONJ
ajase-5514	248	23	the	the	DET
ajase-5514	248	24	rest	rest	NOUN
ajase-5514	248	25	introduced	introduce	VERB
ajase-5514	248	26	models	model	NOUN
ajase-5514	248	27	by	by	ADP
ajase-5514	248	28	returning	return	VERB
ajase-5514	248	29	with	with	ADP
ajase-5514	248	30	lower	low	ADJ
ajase-5514	248	31	aic	aic	PROPN
ajase-5514	248	32	and	and	CCONJ
ajase-5514	248	33	higher	high	ADJ
ajase-5514	248	34	loglikelihood	loglikelihood	NOUN
ajase-5514	248	35	estimates	estimate	NOUN
ajase-5514	248	36	across	across	ADP
ajase-5514	248	37	all	all	DET
ajase-5514	248	38	four	four	NUM
ajase-5514	248	39	small	small	ADJ
ajase-5514	248	40	sample	sample	NOUN
ajase-5514	248	41	sizes	size	NOUN
ajase-5514	248	42	examined	examine	VERB
ajase-5514	248	43	.	.	PUNCT
ajase-5514	249	1	furthermore	furthermore	ADV
ajase-5514	249	2	,	,	PUNCT
ajase-5514	249	3	according	accord	VERB
ajase-5514	249	4	to	to	PART
ajase-5514	249	5	figure	figure	VERB
ajase-5514	249	6	8	8	NUM
ajase-5514	249	7	,	,	PUNCT
ajase-5514	249	8	the	the	DET
ajase-5514	249	9	novel	novel	ADJ
ajase-5514	249	10	mlpssm	mlpssm	NOUN
ajase-5514	249	11	returned	return	VERB
ajase-5514	249	12	the	the	DET
ajase-5514	249	13	least	least	ADJ
ajase-5514	249	14	aic	aic	PROPN
ajase-5514	249	15	estimates	estimate	NOUN
ajase-5514	249	16	across	across	ADP
ajase-5514	249	17	all	all	DET
ajase-5514	249	18	four	four	NUM
ajase-5514	249	19	small	small	ADJ
ajase-5514	249	20	sample	sample	NOUN
ajase-5514	249	21	sizes	size	NOUN
ajase-5514	249	22	examined	examine	VERB
ajase-5514	249	23	.	.	PUNCT
ajase-5514	250	1	similarly	similarly	ADV
ajase-5514	250	2	,	,	PUNCT
ajase-5514	250	3	as	as	SCONJ
ajase-5514	250	4	observed	observe	VERB
ajase-5514	250	5	in	in	ADP
ajase-5514	250	6	figure	figure	NOUN
ajase-5514	250	7	9	9	NUM
ajase-5514	250	8	,	,	PUNCT
ajase-5514	250	9	the	the	DET
ajase-5514	250	10	novel	novel	ADJ
ajase-5514	250	11	mlpssm	mlpssm	NOUN
ajase-5514	250	12	returned	return	VERB
ajase-5514	250	13	the	the	DET
ajase-5514	250	14	highest	high	ADJ
ajase-5514	250	15	loglikelihood	loglikelihood	ADJ
ajase-5514	250	16	estimates	estimate	NOUN
ajase-5514	250	17	across	across	ADP
ajase-5514	250	18	all	all	DET
ajase-5514	250	19	four	four	NUM
ajase-5514	250	20	small	small	ADJ
ajase-5514	250	21	sample	sample	NOUN
ajase-5514	250	22	sizes	size	NOUN
ajase-5514	250	23	examined	examine	VERB
ajase-5514	250	24	.	.	PUNCT
ajase-5514	251	1	also	also	ADV
ajase-5514	251	2	,	,	PUNCT
ajase-5514	251	3	it	it	PRON
ajase-5514	251	4	is	be	AUX
ajase-5514	251	5	important	important	ADJ
ajase-5514	251	6	to	to	PART
ajase-5514	251	7	note	note	VERB
ajase-5514	251	8	that	that	SCONJ
ajase-5514	251	9	the	the	DET
ajase-5514	251	10	aic	aic	PROPN
ajase-5514	251	11	estimate	estimate	NOUN
ajase-5514	251	12	inclines	incline	VERB
ajase-5514	251	13	to	to	PART
ajase-5514	251	14	increase	increase	VERB
ajase-5514	251	15	and	and	CCONJ
ajase-5514	251	16	log	log	NOUN
ajase-5514	251	17	-	-	PUNCT
ajase-5514	251	18	likelihood	likelihood	NOUN
ajase-5514	251	19	estimate	estimate	NOUN
ajase-5514	251	20	tends	tend	VERB
ajase-5514	251	21	to	to	PART
ajase-5514	251	22	decline	decline	VERB
ajase-5514	251	23	when	when	SCONJ
ajase-5514	251	24	the	the	DET
ajase-5514	251	25	sample	sample	NOUN
ajase-5514	251	26	size	size	NOUN
ajase-5514	251	27	is	be	AUX
ajase-5514	251	28	100	100	NUM
ajase-5514	251	29	.	.	PUNCT
ajase-5514	252	1	this	this	DET
ajase-5514	252	2	result	result	NOUN
ajase-5514	252	3	suggests	suggest	VERB
ajase-5514	252	4	that	that	SCONJ
ajase-5514	252	5	the	the	DET
ajase-5514	252	6	novel	novel	NOUN
ajase-5514	252	7	mlpssm	mlpssm	NOUN
ajase-5514	252	8	is	be	AUX
ajase-5514	252	9	best	well	ADV
ajase-5514	252	10	fitted	fit	VERB
ajase-5514	252	11	for	for	ADP
ajase-5514	252	12	sample	sample	NOUN
ajase-5514	252	13	sizes	size	NOUN
ajase-5514	252	14	less	less	ADJ
ajase-5514	252	15	than	than	ADP
ajase-5514	252	16	100	100	NUM
ajase-5514	252	17	.	.	PUNCT
ajase-5514	253	1	thus	thus	ADV
ajase-5514	253	2	,	,	PUNCT
ajase-5514	253	3	the	the	DET
ajase-5514	253	4	novel	novel	ADJ
ajase-5514	253	5	mlpssm	mlpssm	NOUN
ajase-5514	253	6	returned	return	VERB
ajase-5514	253	7	as	as	ADP
ajase-5514	253	8	the	the	DET
ajase-5514	253	9	most	most	ADV
ajase-5514	253	10	parsimonious	parsimonious	ADJ
ajase-5514	253	11	model	model	NOUN
ajase-5514	253	12	among	among	ADP
ajase-5514	253	13	the	the	DET
ajase-5514	253	14	estimated	estimate	VERB
ajase-5514	253	15	ssms	ssm	NOUN
ajase-5514	253	16	.	.	PUNCT
ajase-5514	254	1	evidence	evidence	NOUN
ajase-5514	254	2	from	from	ADP
ajase-5514	254	3	the	the	DET
ajase-5514	254	4	aic	aic	PROPN
ajase-5514	254	5	and	and	CCONJ
ajase-5514	254	6	log	log	NOUN
ajase-5514	254	7	-	-	PUNCT
ajase-5514	254	8	likelihood	likelihood	NOUN
ajase-5514	254	9	line	line	NOUN
ajase-5514	254	10	plots	plot	NOUN
ajase-5514	254	11	established	establish	VERB
ajase-5514	254	12	multilayer	multilayer	ADJ
ajase-5514	254	13	perceptrons	perceptron	NOUN
ajase-5514	254	14	state	state	NOUN
ajase-5514	254	15	switching	switching	NOUN
ajase-5514	254	16	model	model	NOUN
ajase-5514	254	17	(	(	PUNCT
ajase-5514	254	18	mlpssm	mlpssm	NOUN
ajase-5514	254	19	)	)	PUNCT
ajase-5514	254	20	as	as	ADP
ajase-5514	254	21	the	the	DET
ajase-5514	254	22	best	well	ADV
ajase-5514	254	23	-	-	PUNCT
ajase-5514	254	24	fitted	fit	VERB
ajase-5514	254	25	model	model	NOUN
ajase-5514	254	26	for	for	ADP
ajase-5514	254	27	the	the	DET
ajase-5514	254	28	simulated	simulate	VERB
ajase-5514	254	29	returns	return	NOUN
ajase-5514	254	30	at	at	ADP
ajase-5514	254	31	all	all	DET
ajase-5514	254	32	the	the	DET
ajase-5514	254	33	considered	consider	VERB
ajase-5514	254	34	small	small	ADJ
ajase-5514	254	35	sample	sample	NOUN
ajase-5514	254	36	sizes	size	NOUN
ajase-5514	254	37	.	.	PUNCT
ajase-5514	255	1	evaluation	evaluation	NOUN
ajase-5514	255	2	of	of	ADP
ajase-5514	255	3	models	model	NOUN
ajase-5514	255	4	’	'	PUNCT
ajase-5514	255	5	regime	regime	NOUN
ajase-5514	255	6	prediction	prediction	NOUN
ajase-5514	255	7	performances	performance	VERB
ajase-5514	255	8	this	this	DET
ajase-5514	255	9	section	section	NOUN
ajase-5514	255	10	presents	present	VERB
ajase-5514	255	11	and	and	CCONJ
ajase-5514	255	12	discusses	discuss	VERB
ajase-5514	255	13	the	the	DET
ajase-5514	255	14	performance	performance	NOUN
ajase-5514	255	15	of	of	ADP
ajase-5514	255	16	the	the	DET
ajase-5514	255	17	fitted	fit	VERB
ajase-5514	255	18	models	model	NOUN
ajase-5514	255	19	for	for	ADP
ajase-5514	255	20	the	the	DET
ajase-5514	255	21	training	training	NOUN
ajase-5514	255	22	dataset	dataset	NOUN
ajase-5514	255	23	.	.	PUNCT
ajase-5514	256	1	each	each	PRON
ajase-5514	256	2	of	of	ADP
ajase-5514	256	3	the	the	DET
ajase-5514	256	4	model	model	NOUN
ajase-5514	256	5	performances	performance	NOUN
ajase-5514	256	6	was	be	AUX
ajase-5514	256	7	assessed	assess	VERB
ajase-5514	256	8	based	base	VERB
ajase-5514	256	9	on	on	ADP
ajase-5514	256	10	insample	insample	ADJ
ajase-5514	256	11	predictions	prediction	NOUN
ajase-5514	256	12	of	of	ADP
ajase-5514	256	13	the	the	DET
ajase-5514	256	14	testing	testing	NOUN
ajase-5514	256	15	dataset	dataset	VERB
ajase-5514	256	16	at	at	ADP
ajase-5514	256	17	20	20	NUM
ajase-5514	256	18	%	%	NOUN
ajase-5514	256	19	of	of	ADP
ajase-5514	256	20	each	each	DET
ajase-5514	256	21	sample	sample	NOUN
ajase-5514	256	22	size	size	NOUN
ajase-5514	256	23	,	,	PUNCT
ajase-5514	256	24	i.e.	i.e.	X
ajase-5514	256	25	,	,	PUNCT
ajase-5514	256	26	30	30	NUM
ajase-5514	256	27	,	,	PUNCT
ajase-5514	256	28	50	50	NUM
ajase-5514	256	29	,	,	PUNCT
ajase-5514	256	30	70	70	NUM
ajase-5514	256	31	,	,	PUNCT
ajase-5514	256	32	and	and	CCONJ
ajase-5514	256	33	100	100	NUM
ajase-5514	256	34	.	.	PUNCT
ajase-5514	257	1	root	root	NOUN
ajase-5514	257	2	mean	mean	VERB
ajase-5514	257	3	square	square	ADJ
ajase-5514	257	4	error	error	NOUN
ajase-5514	257	5	(	(	PUNCT
ajase-5514	257	6	rmse	rmse	NOUN
ajase-5514	257	7	)	)	PUNCT
ajase-5514	257	8	and	and	CCONJ
ajase-5514	257	9	mean	mean	VERB
ajase-5514	257	10	absolute	absolute	ADJ
ajase-5514	257	11	error	error	NOUN
ajase-5514	257	12	(	(	PUNCT
ajase-5514	257	13	mae	mae	PROPN
ajase-5514	257	14	)	)	PUNCT
ajase-5514	257	15	were	be	AUX
ajase-5514	257	16	employed	employ	VERB
ajase-5514	257	17	to	to	PART
ajase-5514	257	18	assess	assess	VERB
ajase-5514	257	19	the	the	DET
ajase-5514	257	20	prediction	prediction	NOUN
ajase-5514	257	21	accuracy	accuracy	NOUN
ajase-5514	257	22	errors	error	NOUN
ajase-5514	257	23	of	of	ADP
ajase-5514	257	24	the	the	DET
ajase-5514	257	25	models	model	NOUN
ajase-5514	257	26	.	.	PUNCT
ajase-5514	258	1	figure	figure	VERB
ajase-5514	258	2	10	10	NUM
ajase-5514	258	3	depicts	depict	VERB
ajase-5514	258	4	the	the	DET
ajase-5514	258	5	models	model	NOUN
ajase-5514	258	6	’	'	PUNCT
ajase-5514	258	7	prediction	prediction	NOUN
ajase-5514	258	8	performances	performance	NOUN
ajase-5514	258	9	results	result	VERB
ajase-5514	258	10	.	.	PUNCT
ajase-5514	259	1	according	accord	VERB
ajase-5514	259	2	to	to	ADP
ajase-5514	259	3	the	the	DET
ajase-5514	259	4	figure	figure	NOUN
ajase-5514	259	5	,	,	PUNCT
ajase-5514	259	6	the	the	DET
ajase-5514	259	7	novel	novel	ADJ
ajase-5514	259	8	mlpssm	mlpssm	NOUN
ajase-5514	259	9	returned	return	VERB
ajase-5514	259	10	the	the	DET
ajase-5514	259	11	least	least	ADJ
ajase-5514	259	12	rmse	rmse	NOUN
ajase-5514	259	13	and	and	CCONJ
ajase-5514	259	14	mae	mae	PROPN
ajase-5514	259	15	for	for	ADP
ajase-5514	259	16	the	the	DET
ajase-5514	259	17	insample	insample	ADJ
ajase-5514	259	18	predictions	prediction	NOUN
ajase-5514	259	19	across	across	ADP
ajase-5514	259	20	all	all	DET
ajase-5514	259	21	four	four	NUM
ajase-5514	259	22	sample	sample	NOUN
ajase-5514	259	23	sizes	size	NOUN
ajase-5514	259	24	examined	examine	VERB
ajase-5514	259	25	.	.	PUNCT
ajase-5514	260	1	therefore	therefore	ADV
ajase-5514	260	2	,	,	PUNCT
ajase-5514	260	3	our	our	PRON
ajase-5514	260	4	introduced	introduce	VERB
ajase-5514	260	5	novel	novel	NOUN
ajase-5514	260	6	model	model	NOUN
ajase-5514	260	7	,	,	PUNCT
ajase-5514	260	8	i.e.	i.e.	X
ajase-5514	260	9	,	,	PUNCT
ajase-5514	260	10	mlpssm	mlpssm	NOUN
ajase-5514	260	11	,	,	PUNCT
ajase-5514	260	12	returned	return	VERB
ajase-5514	260	13	as	as	ADP
ajase-5514	260	14	the	the	DET
ajase-5514	260	15	optimal	optimal	ADJ
ajase-5514	260	16	model	model	NOUN
ajase-5514	260	17	for	for	ADP
ajase-5514	260	18	regime	regime	NOUN
ajase-5514	260	19	predictions	prediction	NOUN
ajase-5514	260	20	of	of	ADP
ajase-5514	260	21	the	the	DET
ajase-5514	260	22	stimulated	stimulated	ADJ
ajase-5514	260	23	returns	return	NOUN
ajase-5514	260	24	.	.	PUNCT
ajase-5514	261	1	figure	figure	VERB
ajase-5514	261	2	8	8	NUM
ajase-5514	261	3	:	:	PUNCT
ajase-5514	261	4	models	model	NOUN
ajase-5514	261	5	’	'	PUNCT
ajase-5514	261	6	aic	aic	PROPN
ajase-5514	261	7	estimates	estimate	VERB
ajase-5514	261	8	across	across	ADP
ajase-5514	261	9	the	the	DET
ajase-5514	261	10	sample	sample	NOUN
ajase-5514	261	11	sizes	size	NOUN
ajase-5514	261	12	figure	figure	VERB
ajase-5514	261	13	9	9	NUM
ajase-5514	261	14	:	:	PUNCT
ajase-5514	261	15	models	model	NOUN
ajase-5514	261	16	’	'	PUNCT
ajase-5514	261	17	loglikelihood	loglikelihood	NOUN
ajase-5514	261	18	estimates	estimate	NOUN
ajase-5514	261	19	across	across	ADP
ajase-5514	261	20	the	the	DET
ajase-5514	261	21	sample	sample	NOUN
ajase-5514	261	22	sizes	size	NOUN
ajase-5514	261	23	figure	figure	VERB
ajase-5514	261	24	10	10	NUM
ajase-5514	261	25	:	:	PUNCT
ajase-5514	261	26	in	in	ADP
ajase-5514	261	27	-	-	PUNCT
ajase-5514	261	28	sample	sample	NOUN
ajase-5514	261	29	prediction	prediction	NOUN
ajase-5514	261	30	performances	performance	NOUN
ajase-5514	261	31	of	of	ADP
ajase-5514	261	32	the	the	DET
ajase-5514	261	33	fitted	fit	VERB
ajase-5514	261	34	models	model	NOUN
ajase-5514	261	35	pa	pa	PROPN
ajase-5514	261	36	ge	ge	PROPN
ajase-5514	261	37	10	10	NUM
ajase-5514	261	38	5	5	NUM
ajase-5514	261	39	https://journals.e-palli.com/home/index.php/ajase	https://journals.e-palli.com/home/index.php/ajase	PROPN
ajase-5514	261	40	am	be	AUX
ajase-5514	261	41	.	.	PUNCT
ajase-5514	262	1	j.	j.	PROPN
ajase-5514	262	2	appl	appl	PROPN
ajase-5514	262	3	.	.	PROPN
ajase-5514	263	1	stat	stat	PROPN
ajase-5514	263	2	.	.	PUNCT
ajase-5514	264	1	econ	econ	PROPN
ajase-5514	264	2	.	.	PUNCT
ajase-5514	265	1	4(1	4(1	X
ajase-5514	265	2	)	)	PUNCT
ajase-5514	265	3	94	94	NUM
ajase-5514	265	4	-	-	SYM
ajase-5514	265	5	107	107	NUM
ajase-5514	265	6	,	,	PUNCT
ajase-5514	265	7	2025	2025	NUM
ajase-5514	265	8	furthermore	furthermore	ADV
ajase-5514	265	9	,	,	PUNCT
ajase-5514	265	10	table	table	NOUN
ajase-5514	265	11	6	6	NUM
ajase-5514	265	12	presents	present	VERB
ajase-5514	265	13	the	the	DET
ajase-5514	265	14	mlpssm	mlpssm	NOUN
ajase-5514	265	15	in	in	ADP
ajase-5514	265	16	-	-	PUNCT
ajase-5514	265	17	sample	sample	NOUN
ajase-5514	265	18	daily	daily	ADJ
ajase-5514	265	19	regime	regime	NOUN
ajase-5514	265	20	mean	mean	VERB
ajase-5514	265	21	predictions	prediction	NOUN
ajase-5514	265	22	of	of	ADP
ajase-5514	265	23	20	20	NUM
ajase-5514	265	24	%	%	NOUN
ajase-5514	265	25	of	of	ADP
ajase-5514	265	26	the	the	DET
ajase-5514	265	27	simulated	simulate	VERB
ajase-5514	265	28	market	market	NOUN
ajase-5514	265	29	returns	return	NOUN
ajase-5514	265	30	sample	sample	NOUN
ajase-5514	265	31	sizes	size	NOUN
ajase-5514	265	32	.	.	PUNCT
ajase-5514	266	1	the	the	DET
ajase-5514	266	2	table	table	NOUN
ajase-5514	266	3	reveals	reveal	VERB
ajase-5514	266	4	a	a	DET
ajase-5514	266	5	stable	stable	ADJ
ajase-5514	266	6	or	or	CCONJ
ajase-5514	266	7	static	static	ADJ
ajase-5514	266	8	regime	regime	NOUN
ajase-5514	266	9	means	mean	VERB
ajase-5514	266	10	across	across	ADP
ajase-5514	266	11	all	all	DET
ajase-5514	266	12	the	the	DET
ajase-5514	266	13	sample	sample	NOUN
ajase-5514	266	14	sizes	size	NOUN
ajase-5514	266	15	considered	consider	VERB
ajase-5514	266	16	.	.	PUNCT
ajase-5514	267	1	explicitly	explicitly	ADV
ajase-5514	267	2	,	,	PUNCT
ajase-5514	267	3	for	for	ADP
ajase-5514	267	4	sample	sample	NOUN
ajase-5514	267	5	sizes	size	NOUN
ajase-5514	267	6	30	30	NUM
ajase-5514	267	7	and	and	CCONJ
ajase-5514	267	8	50	50	NUM
ajase-5514	267	9	,	,	PUNCT
ajase-5514	267	10	the	the	DET
ajase-5514	267	11	novel	novel	ADJ
ajase-5514	267	12	mlpssm	mlpssm	NOUN
ajase-5514	267	13	predicted	predict	VERB
ajase-5514	267	14	respectively	respectively	ADV
ajase-5514	267	15	a	a	DET
ajase-5514	267	16	bear	bear	NOUN
ajase-5514	267	17	regime	regime	NOUN
ajase-5514	267	18	mean	mean	NOUN
ajase-5514	267	19	of	of	ADP
ajase-5514	267	20	-0.00746	-0.00746	NOUN
ajase-5514	267	21	and	and	CCONJ
ajase-5514	267	22	-0.00068	-0.00068	VERB
ajase-5514	267	23	across	across	ADP
ajase-5514	267	24	the	the	DET
ajase-5514	267	25	days	day	NOUN
ajase-5514	267	26	predicted	predict	VERB
ajase-5514	267	27	at	at	ADP
ajase-5514	267	28	each	each	DET
ajase-5514	267	29	scenario	scenario	NOUN
ajase-5514	267	30	.	.	PUNCT
ajase-5514	268	1	the	the	DET
ajase-5514	268	2	predicted	predict	VERB
ajase-5514	268	3	bear	bear	NOUN
ajase-5514	268	4	regime	regime	NOUN
ajase-5514	268	5	in	in	ADP
ajase-5514	268	6	sample	sample	NOUN
ajase-5514	268	7	size	size	NOUN
ajase-5514	268	8	30	30	NUM
ajase-5514	268	9	and	and	CCONJ
ajase-5514	268	10	50	50	NUM
ajase-5514	268	11	returned	return	VERB
ajase-5514	268	12	high	high	ADJ
ajase-5514	268	13	transition	transition	NOUN
ajase-5514	268	14	probability	probability	NOUN
ajase-5514	268	15	(	(	PUNCT
ajase-5514	268	16	i.e.	i.e.	X
ajase-5514	268	17	0.77	0.77	NUM
ajase-5514	268	18	and	and	CCONJ
ajase-5514	268	19	0.62	0.62	NUM
ajase-5514	268	20	)	)	PUNCT
ajase-5514	268	21	to	to	ADP
ajase-5514	268	22	bull	bull	NOUN
ajase-5514	268	23	regime	regime	NOUN
ajase-5514	268	24	.	.	PUNCT
ajase-5514	269	1	this	this	PRON
ajase-5514	269	2	implies	imply	VERB
ajase-5514	269	3	the	the	DET
ajase-5514	269	4	predicted	predict	VERB
ajase-5514	269	5	bear	bear	NOUN
ajase-5514	269	6	regimes	regime	NOUN
ajase-5514	269	7	in	in	ADP
ajase-5514	269	8	sample	sample	NOUN
ajase-5514	269	9	size	size	NOUN
ajase-5514	269	10	30	30	NUM
ajase-5514	269	11	and	and	CCONJ
ajase-5514	269	12	50	50	NUM
ajase-5514	269	13	has	have	VERB
ajase-5514	269	14	little	little	ADJ
ajase-5514	269	15	probability	probability	NOUN
ajase-5514	269	16	to	to	PART
ajase-5514	269	17	remain	remain	VERB
ajase-5514	269	18	in	in	ADP
ajase-5514	269	19	the	the	DET
ajase-5514	269	20	state	state	NOUN
ajase-5514	269	21	,	,	PUNCT
ajase-5514	269	22	i.e.	i.e.	X
ajase-5514	269	23	,	,	PUNCT
ajase-5514	269	24	weak	weak	ADJ
ajase-5514	269	25	events	event	NOUN
ajase-5514	269	26	can	can	AUX
ajase-5514	269	27	switch	switch	VERB
ajase-5514	269	28	the	the	DET
ajase-5514	269	29	bear	bear	NOUN
ajase-5514	269	30	regime	regime	NOUN
ajase-5514	269	31	to	to	ADP
ajase-5514	269	32	bull	bull	NOUN
ajase-5514	269	33	regime	regime	NOUN
ajase-5514	269	34	.	.	PUNCT
ajase-5514	270	1	on	on	ADP
ajase-5514	270	2	the	the	DET
ajase-5514	270	3	other	other	ADJ
ajase-5514	270	4	hand	hand	NOUN
ajase-5514	270	5	,	,	PUNCT
ajase-5514	270	6	for	for	ADP
ajase-5514	270	7	sample	sample	NOUN
ajase-5514	270	8	sizes	size	NOUN
ajase-5514	270	9	70	70	NUM
ajase-5514	270	10	and	and	CCONJ
ajase-5514	270	11	100	100	NUM
ajase-5514	270	12	,	,	PUNCT
ajase-5514	270	13	the	the	DET
ajase-5514	270	14	novel	novel	ADJ
ajase-5514	270	15	mlpssm	mlpssm	NOUN
ajase-5514	270	16	predicted	predict	VERB
ajase-5514	270	17	respectively	respectively	ADV
ajase-5514	270	18	a	a	DET
ajase-5514	270	19	bull	bull	NOUN
ajase-5514	270	20	regime	regime	NOUN
ajase-5514	270	21	mean	mean	NOUN
ajase-5514	270	22	of	of	ADP
ajase-5514	270	23	+0.007425	+0.007425	X
ajase-5514	270	24	and	and	CCONJ
ajase-5514	270	25	+0.01948	+0.01948	NOUN
ajase-5514	270	26	across	across	ADP
ajase-5514	270	27	the	the	DET
ajase-5514	270	28	days	day	NOUN
ajase-5514	270	29	predicted	predict	VERB
ajase-5514	270	30	at	at	ADP
ajase-5514	270	31	each	each	DET
ajase-5514	270	32	scenario	scenario	NOUN
ajase-5514	270	33	.	.	PUNCT
ajase-5514	271	1	the	the	DET
ajase-5514	271	2	predicted	predict	VERB
ajase-5514	271	3	bull	bull	NOUN
ajase-5514	271	4	regime	regime	NOUN
ajase-5514	271	5	in	in	ADP
ajase-5514	271	6	sample	sample	NOUN
ajase-5514	271	7	size	size	NOUN
ajase-5514	271	8	70	70	NUM
ajase-5514	271	9	returned	return	VERB
ajase-5514	271	10	a	a	DET
ajase-5514	271	11	very	very	ADV
ajase-5514	271	12	low	low	ADJ
ajase-5514	271	13	transition	transition	NOUN
ajase-5514	271	14	probability	probability	NOUN
ajase-5514	271	15	(	(	PUNCT
ajase-5514	271	16	i.e.	i.e.	X
ajase-5514	271	17	0.14	0.14	NUM
ajase-5514	271	18	)	)	PUNCT
ajase-5514	271	19	to	to	PART
ajase-5514	271	20	bear	bear	VERB
ajase-5514	271	21	regime	regime	NOUN
ajase-5514	271	22	while	while	SCONJ
ajase-5514	271	23	the	the	DET
ajase-5514	271	24	predicted	predict	VERB
ajase-5514	271	25	bull	bull	NOUN
ajase-5514	271	26	regime	regime	NOUN
ajase-5514	271	27	in	in	ADP
ajase-5514	271	28	sample	sample	NOUN
ajase-5514	271	29	size	size	NOUN
ajase-5514	271	30	100	100	NUM
ajase-5514	271	31	returned	return	VERB
ajase-5514	271	32	a	a	DET
ajase-5514	271	33	relatively	relatively	ADV
ajase-5514	271	34	moderate	moderate	ADJ
ajase-5514	271	35	transition	transition	NOUN
ajase-5514	271	36	probability	probability	NOUN
ajase-5514	271	37	(	(	PUNCT
ajase-5514	271	38	i.e.	i.e.	X
ajase-5514	271	39	0.43	0.43	NUM
ajase-5514	271	40	)	)	PUNCT
ajase-5514	271	41	to	to	PART
ajase-5514	271	42	bear	bear	VERB
ajase-5514	271	43	regime	regime	NOUN
ajase-5514	271	44	.	.	PUNCT
ajase-5514	272	1	this	this	PRON
ajase-5514	272	2	implies	imply	VERB
ajase-5514	272	3	the	the	DET
ajase-5514	272	4	predicted	predict	VERB
ajase-5514	272	5	bull	bull	NOUN
ajase-5514	272	6	regimes	regime	NOUN
ajase-5514	272	7	in	in	ADP
ajase-5514	272	8	sample	sample	NOUN
ajase-5514	272	9	size	size	NOUN
ajase-5514	272	10	70	70	NUM
ajase-5514	272	11	has	have	VERB
ajase-5514	272	12	a	a	DET
ajase-5514	272	13	great	great	ADJ
ajase-5514	272	14	probability	probability	NOUN
ajase-5514	272	15	to	to	PART
ajase-5514	272	16	remain	remain	VERB
ajase-5514	272	17	in	in	ADP
ajase-5514	272	18	the	the	DET
ajase-5514	272	19	state	state	NOUN
ajase-5514	272	20	,	,	PUNCT
ajase-5514	272	21	i.e.	i.e.	X
ajase-5514	272	22	,	,	PUNCT
ajase-5514	272	23	only	only	ADV
ajase-5514	272	24	extreme	extreme	ADJ
ajase-5514	272	25	events	event	NOUN
ajase-5514	272	26	can	can	AUX
ajase-5514	272	27	switch	switch	VERB
ajase-5514	272	28	the	the	DET
ajase-5514	272	29	bull	bull	NOUN
ajase-5514	272	30	regime	regime	NOUN
ajase-5514	272	31	to	to	PART
ajase-5514	272	32	bear	bear	VERB
ajase-5514	272	33	regime	regime	NOUN
ajase-5514	272	34	.	.	PUNCT
ajase-5514	273	1	meanwhile	meanwhile	ADV
ajase-5514	273	2	,	,	PUNCT
ajase-5514	273	3	for	for	ADP
ajase-5514	273	4	sample	sample	NOUN
ajase-5514	273	5	size	size	NOUN
ajase-5514	273	6	100	100	NUM
ajase-5514	273	7	,	,	PUNCT
ajase-5514	273	8	the	the	DET
ajase-5514	273	9	result	result	NOUN
ajase-5514	273	10	implies	imply	VERB
ajase-5514	273	11	that	that	SCONJ
ajase-5514	273	12	the	the	DET
ajase-5514	273	13	predicted	predict	VERB
ajase-5514	273	14	bull	bull	NOUN
ajase-5514	273	15	regimes	regime	NOUN
ajase-5514	273	16	has	have	VERB
ajase-5514	273	17	a	a	DET
ajase-5514	273	18	relatively	relatively	ADV
ajase-5514	273	19	fair	fair	ADJ
ajase-5514	273	20	or	or	CCONJ
ajase-5514	273	21	moderate	moderate	ADJ
ajase-5514	273	22	probability	probability	NOUN
ajase-5514	273	23	of	of	ADP
ajase-5514	273	24	remaining	remain	VERB
ajase-5514	273	25	in	in	ADP
ajase-5514	273	26	the	the	DET
ajase-5514	273	27	bull	bull	NOUN
ajase-5514	273	28	state	state	NOUN
ajase-5514	273	29	,	,	PUNCT
ajase-5514	273	30	i.e.	i.e.	X
ajase-5514	273	31	not	not	PART
ajase-5514	273	32	too	too	ADV
ajase-5514	273	33	weak	weak	ADJ
ajase-5514	273	34	or	or	CCONJ
ajase-5514	273	35	too	too	ADV
ajase-5514	273	36	extreme	extreme	ADJ
ajase-5514	273	37	events	event	NOUN
ajase-5514	273	38	can	can	AUX
ajase-5514	273	39	switch	switch	VERB
ajase-5514	273	40	the	the	DET
ajase-5514	273	41	bull	bull	NOUN
ajase-5514	273	42	regime	regime	NOUN
ajase-5514	273	43	to	to	PART
ajase-5514	273	44	bear	bear	VERB
ajase-5514	273	45	regime	regime	NOUN
ajase-5514	273	46	.	.	PUNCT
ajase-5514	274	1	table	table	NOUN
ajase-5514	274	2	6	6	NUM
ajase-5514	274	3	:	:	PUNCT
ajase-5514	274	4	mlpssm	mlpssm	NOUN
ajase-5514	274	5	20	20	NUM
ajase-5514	274	6	%	%	NOUN
ajase-5514	274	7	in	in	ADP
ajase-5514	274	8	-	-	PUNCT
ajase-5514	274	9	sample	sample	NOUN
ajase-5514	274	10	daily	daily	ADJ
ajase-5514	274	11	regime	regime	NOUN
ajase-5514	274	12	mean	mean	VERB
ajase-5514	274	13	predictions	prediction	NOUN
ajase-5514	274	14	of	of	ADP
ajase-5514	274	15	small	small	ADJ
ajase-5514	274	16	sample	sample	NOUN
ajase-5514	274	17	sizes	size	NOUN
ajase-5514	274	18	considered	consider	VERB
ajase-5514	274	19	30	30	NUM
ajase-5514	274	20	p_12=0.23,p_22=0.77	p_12=0.23,p_22=0.77	NOUN
ajase-5514	274	21	50	50	NUM
ajase-5514	274	22	p_12=0.38,p_22=0.62	p_12=0.38,p_22=0.62	PROPN
ajase-5514	274	23	70	70	NUM
ajase-5514	274	24	p_11=0.86,p_21=0.14	p_11=0.86,p_21=0.14	NOUN
ajase-5514	274	25	100	100	NUM
ajase-5514	274	26	p_11=0.57,p_21=0.43	p_11=0.57,p_21=0.43	NUM
ajase-5514	274	27	1	1	NUM
ajase-5514	274	28	-0.00746	-0.00746	NOUN
ajase-5514	274	29	-0.00068	-0.00068	VERB
ajase-5514	275	1	+0.007425	+0.007425	X
ajase-5514	275	2	+0.01948	+0.01948	PUNCT
ajase-5514	275	3	2	2	NUM
ajase-5514	275	4	-0.00746	-0.00746	NOUN
ajase-5514	275	5	-0.00068	-0.00068	VERB
ajase-5514	275	6	+0.007425	+0.007425	X
ajase-5514	276	1	+0.01948	+0.01948	PUNCT
ajase-5514	276	2	3	3	NUM
ajase-5514	276	3	-0.00746	-0.00746	NOUN
ajase-5514	276	4	-0.00068	-0.00068	VERB
ajase-5514	276	5	+0.007425	+0.007425	X
ajase-5514	277	1	+0.01948	+0.01948	PUNCT
ajase-5514	277	2	4	4	NUM
ajase-5514	277	3	-0.00746	-0.00746	NOUN
ajase-5514	277	4	-0.00068	-0.00068	VERB
ajase-5514	277	5	+0.007425	+0.007425	X
ajase-5514	278	1	+0.01948	+0.01948	PUNCT
ajase-5514	278	2	5	5	NUM
ajase-5514	278	3	-0.00746	-0.00746	NOUN
ajase-5514	278	4	-0.00068	-0.00068	VERB
ajase-5514	278	5	+0.007425	+0.007425	X
ajase-5514	279	1	+0.01948	+0.01948	PUNCT
ajase-5514	279	2	6	6	NUM
ajase-5514	279	3	-0.00746	-0.00746	NOUN
ajase-5514	279	4	-0.00068	-0.00068	VERB
ajase-5514	279	5	+0.007425	+0.007425	X
ajase-5514	280	1	+0.01948	+0.01948	PUNCT
ajase-5514	280	2	7	7	NUM
ajase-5514	280	3	-0.00068	-0.00068	VERB
ajase-5514	280	4	+0.007425	+0.007425	X
ajase-5514	280	5	+0.01948	+0.01948	PUNCT
ajase-5514	280	6	8	8	NUM
ajase-5514	280	7	-0.00068	-0.00068	VERB
ajase-5514	280	8	+0.007425	+0.007425	X
ajase-5514	280	9	+0.01948	+0.01948	NOUN
ajase-5514	280	10	9	9	NUM
ajase-5514	280	11	-0.00068	-0.00068	VERB
ajase-5514	280	12	+0.007425	+0.007425	X
ajase-5514	280	13	+0.01948	+0.01948	NOUN
ajase-5514	280	14	10	10	NUM
ajase-5514	280	15	-0.00068	-0.00068	VERB
ajase-5514	280	16	+0.007425	+0.007425	X
ajase-5514	280	17	+0.01948	+0.01948	NOUN
ajase-5514	280	18	11	11	NUM
ajase-5514	280	19	+0.007425	+0.007425	NOUN
ajase-5514	280	20	+0.01948	+0.01948	NOUN
ajase-5514	280	21	12	12	NUM
ajase-5514	280	22	+0.007425	+0.007425	NOUN
ajase-5514	280	23	+0.01948	+0.01948	NOUN
ajase-5514	280	24	13	13	NUM
ajase-5514	280	25	+0.007425	+0.007425	NOUN
ajase-5514	280	26	+0.01948	+0.01948	NOUN
ajase-5514	280	27	14	14	NUM
ajase-5514	280	28	+0.007425	+0.007425	NOUN
ajase-5514	280	29	+0.01948	+0.01948	NOUN
ajase-5514	280	30	15	15	NUM
ajase-5514	280	31	+0.01948	+0.01948	NOUN
ajase-5514	280	32	16	16	NUM
ajase-5514	280	33	+0.01948	+0.01948	NOUN
ajase-5514	280	34	17	17	NUM
ajase-5514	280	35	+0.01948	+0.01948	NOUN
ajase-5514	280	36	18	18	NUM
ajase-5514	280	37	+0.01948	+0.01948	NOUN
ajase-5514	280	38	19	19	NUM
ajase-5514	280	39	+0.01948	+0.01948	NOUN
ajase-5514	280	40	20	20	NUM
ajase-5514	280	41	+0.01948	+0.01948	NOUN
ajase-5514	280	42	note	note	NOUN
ajase-5514	280	43	:	:	PUNCT
ajase-5514	280	44	+	+	CCONJ
ajase-5514	280	45	and	and	CCONJ
ajase-5514	280	46	denote	denote	VERB
ajase-5514	280	47	bull	bull	NOUN
ajase-5514	280	48	and	and	CCONJ
ajase-5514	280	49	bear	bear	VERB
ajase-5514	280	50	regime	regime	NOUN
ajase-5514	280	51	respectively	respectively	ADV
ajase-5514	280	52	source	source	NOUN
ajase-5514	280	53	:	:	PUNCT
ajase-5514	280	54	researchers	researcher	NOUN
ajase-5514	280	55	’	'	PUNCT
ajase-5514	280	56	compilations	compilation	NOUN
ajase-5514	280	57	from	from	ADP
ajase-5514	280	58	r	r	NOUN
ajase-5514	280	59	-	-	PUNCT
ajase-5514	280	60	output	output	ADJ
ajase-5514	280	61	conclusions	conclusion	NOUN
ajase-5514	280	62	this	this	DET
ajase-5514	280	63	paper	paper	NOUN
ajase-5514	280	64	centers	center	NOUN
ajase-5514	280	65	on	on	ADP
ajase-5514	280	66	introducing	introduce	VERB
ajase-5514	280	67	novel	novel	ADJ
ajase-5514	280	68	neural	neural	ADJ
ajase-5514	280	69	network	network	NOUN
ajase-5514	280	70	state	state	NOUN
ajase-5514	280	71	switching	switching	NOUN
ajase-5514	280	72	models	model	NOUN
ajase-5514	280	73	using	use	VERB
ajase-5514	280	74	the	the	DET
ajase-5514	280	75	combination	combination	NOUN
ajase-5514	280	76	of	of	ADP
ajase-5514	280	77	strengths	strength	NOUN
ajase-5514	280	78	of	of	ADP
ajase-5514	280	79	deep	deep	ADJ
ajase-5514	280	80	learning	learn	VERB
ajase-5514	280	81	neural	neural	ADJ
ajase-5514	280	82	networks	network	NOUN
ajase-5514	280	83	and	and	CCONJ
ajase-5514	281	1	traditional	traditional	ADJ
ajase-5514	281	2	markov	markov	NOUN
ajase-5514	281	3	state	state	NOUN
ajase-5514	281	4	switching	switch	VERB
ajase-5514	281	5	approaches	approach	NOUN
ajase-5514	281	6	for	for	ADP
ajase-5514	281	7	regime	regime	NOUN
ajase-5514	281	8	predictions	prediction	NOUN
ajase-5514	281	9	of	of	ADP
ajase-5514	281	10	time	time	NOUN
ajase-5514	281	11	series	series	NOUN
ajase-5514	281	12	returns	return	NOUN
ajase-5514	281	13	.	.	PUNCT
ajase-5514	282	1	the	the	DET
ajase-5514	282	2	paper	paper	NOUN
ajase-5514	282	3	shows	show	VERB
ajase-5514	282	4	the	the	DET
ajase-5514	282	5	comparative	comparative	ADJ
ajase-5514	282	6	results	result	NOUN
ajase-5514	282	7	of	of	ADP
ajase-5514	282	8	the	the	DET
ajase-5514	282	9	estimations	estimation	NOUN
ajase-5514	282	10	of	of	ADP
ajase-5514	282	11	the	the	DET
ajase-5514	282	12	novel	novel	ADJ
ajase-5514	282	13	models	model	NOUN
ajase-5514	282	14	as	as	ADV
ajase-5514	282	15	well	well	ADV
ajase-5514	282	16	as	as	ADP
ajase-5514	282	17	the	the	DET
ajase-5514	282	18	regime	regime	NOUN
ajase-5514	282	19	prediction	prediction	NOUN
ajase-5514	282	20	performances	performance	NOUN
ajase-5514	282	21	of	of	ADP
ajase-5514	282	22	the	the	DET
ajase-5514	282	23	novel	novel	ADJ
ajase-5514	282	24	models	model	NOUN
ajase-5514	282	25	using	use	VERB
ajase-5514	282	26	prediction	prediction	NOUN
ajase-5514	282	27	accuracy	accuracy	NOUN
ajase-5514	282	28	measures	measure	NOUN
ajase-5514	282	29	under	under	ADP
ajase-5514	282	30	a	a	DET
ajase-5514	282	31	monte	monte	PROPN
ajase-5514	282	32	carlo	carlo	PROPN
ajase-5514	282	33	simulation	simulation	PROPN
ajase-5514	282	34	study	study	PROPN
ajase-5514	282	35	.	.	PUNCT
ajase-5514	283	1	evidence	evidence	NOUN
ajase-5514	283	2	from	from	ADP
ajase-5514	283	3	the	the	DET
ajase-5514	283	4	models	model	NOUN
ajase-5514	283	5	’	'	PUNCT
ajase-5514	283	6	estimation	estimation	NOUN
ajase-5514	283	7	results	result	VERB
ajase-5514	283	8	particularly	particularly	ADV
ajase-5514	283	9	the	the	DET
ajase-5514	283	10	aic	aic	PROPN
ajase-5514	283	11	and	and	CCONJ
ajase-5514	283	12	log	log	NOUN
ajase-5514	283	13	-	-	PUNCT
ajase-5514	283	14	likelihood	likelihood	NOUN
ajase-5514	283	15	statistics	statistic	NOUN
ajase-5514	283	16	established	establish	VERB
ajase-5514	283	17	the	the	DET
ajase-5514	283	18	novel	novel	ADJ
ajase-5514	283	19	multilayer	multilayer	NOUN
ajase-5514	283	20	perceptrons	perceptron	NOUN
ajase-5514	283	21	state	state	NOUN
ajase-5514	283	22	switching	switching	NOUN
ajase-5514	283	23	model	model	NOUN
ajase-5514	283	24	(	(	PUNCT
ajase-5514	283	25	mlpssm	mlpssm	NOUN
ajase-5514	283	26	)	)	PUNCT
ajase-5514	283	27	as	as	ADP
ajase-5514	283	28	the	the	DET
ajase-5514	283	29	best	well	ADV
ajase-5514	283	30	fitted	fit	VERB
ajase-5514	283	31	model	model	NOUN
ajase-5514	283	32	(	(	PUNCT
ajase-5514	283	33	against	against	ADP
ajase-5514	283	34	the	the	DET
ajase-5514	283	35	traditional	traditional	ADJ
ajase-5514	283	36	markov	markov	NOUN
ajase-5514	283	37	state	state	NOUN
ajase-5514	283	38	switching	switching	NOUN
ajase-5514	283	39	models	model	NOUN
ajase-5514	283	40	and	and	CCONJ
ajase-5514	283	41	other	other	ADJ
ajase-5514	283	42	introduced	introduce	VERB
ajase-5514	283	43	neural	neural	ADJ
ajase-5514	283	44	network	network	NOUN
ajase-5514	283	45	state	state	NOUN
ajase-5514	283	46	switching	switching	NOUN
ajase-5514	283	47	models	model	NOUN
ajase-5514	283	48	)	)	PUNCT
ajase-5514	283	49	for	for	ADP
ajase-5514	283	50	the	the	DET
ajase-5514	283	51	simulated	simulate	VERB
ajase-5514	283	52	returns	return	NOUN
ajase-5514	283	53	at	at	ADP
ajase-5514	283	54	small	small	ADJ
ajase-5514	283	55	sample	sample	NOUN
ajase-5514	283	56	sizes	size	NOUN
ajase-5514	283	57	especially	especially	ADV
ajase-5514	283	58	for	for	ADP
ajase-5514	283	59	sample	sample	NOUN
ajase-5514	283	60	sizes	size	NOUN
ajase-5514	283	61	lower	low	ADJ
ajase-5514	283	62	than	than	ADP
ajase-5514	283	63	100	100	NUM
ajase-5514	283	64	.	.	PUNCT
ajase-5514	284	1	moreover	moreover	ADV
ajase-5514	284	2	,	,	PUNCT
ajase-5514	284	3	results	result	NOUN
ajase-5514	284	4	from	from	ADP
ajase-5514	284	5	the	the	DET
ajase-5514	284	6	models	model	NOUN
ajase-5514	284	7	’	'	PUNCT
ajase-5514	284	8	regime	regime	NOUN
ajase-5514	284	9	predictions	prediction	NOUN
ajase-5514	284	10	evaluation	evaluation	NOUN
ajase-5514	284	11	precisely	precisely	ADV
ajase-5514	284	12	the	the	DET
ajase-5514	284	13	rmse	rmse	NOUN
ajase-5514	284	14	and	and	CCONJ
ajase-5514	284	15	mae	mae	PROPN
ajase-5514	284	16	evidently	evidently	ADV
ajase-5514	284	17	affirmed	affirm	VERB
ajase-5514	284	18	the	the	DET
ajase-5514	284	19	novel	novel	ADJ
ajase-5514	284	20	mlpssm	mlpssm	NOUN
ajase-5514	284	21	model	model	NOUN
ajase-5514	284	22	as	as	ADV
ajase-5514	284	23	superior	superior	ADJ
ajase-5514	284	24	in	in	ADP
ajase-5514	284	25	its	its	PRON
ajase-5514	284	26	ability	ability	NOUN
ajase-5514	284	27	to	to	PART
ajase-5514	284	28	predict	predict	VERB
ajase-5514	284	29	or	or	CCONJ
ajase-5514	284	30	forecast	forecast	VERB
ajase-5514	284	31	market	market	NOUN
ajase-5514	284	32	returns	return	NOUN
ajase-5514	284	33	particularly	particularly	ADV
ajase-5514	284	34	the	the	DET
ajase-5514	284	35	bull	bull	NOUN
ajase-5514	284	36	and	and	CCONJ
ajase-5514	284	37	bear	bear	VERB
ajase-5514	284	38	regimes	regime	NOUN
ajase-5514	284	39	at	at	ADP
ajase-5514	284	40	small	small	ADJ
ajase-5514	284	41	sample	sample	NOUN
ajase-5514	284	42	sizes	size	NOUN
ajase-5514	284	43	.	.	PUNCT
ajase-5514	285	1	base	base	NOUN
ajase-5514	285	2	on	on	ADP
ajase-5514	285	3	the	the	DET
ajase-5514	285	4	aforementioned	aforementioned	ADJ
ajase-5514	286	1	,	,	PUNCT
ajase-5514	286	2	this	this	DET
ajase-5514	286	3	study	study	NOUN
ajase-5514	286	4	therefore	therefore	ADV
ajase-5514	286	5	concludes	conclude	VERB
ajase-5514	286	6	that	that	SCONJ
ajase-5514	286	7	the	the	DET
ajase-5514	286	8	novel	novel	NOUN
ajase-5514	286	9	mlpssm	mlpssm	NOUN
ajase-5514	286	10	is	be	AUX
ajase-5514	286	11	best	well	ADV
ajase-5514	286	12	fitted	fit	VERB
ajase-5514	286	13	model	model	NOUN
ajase-5514	286	14	for	for	ADP
ajase-5514	286	15	market	market	NOUN
ajase-5514	286	16	returns	return	NOUN
ajase-5514	286	17	at	at	ADP
ajase-5514	286	18	small	small	ADJ
ajase-5514	286	19	sample	sample	NOUN
ajase-5514	286	20	sizes	size	NOUN
ajase-5514	286	21	with	with	ADP
ajase-5514	286	22	excellent	excellent	ADJ
ajase-5514	286	23	ability	ability	NOUN
ajase-5514	286	24	of	of	ADP
ajase-5514	286	25	market	market	NOUN
ajase-5514	286	26	returns	return	NOUN
ajase-5514	286	27	’	'	PUNCT
ajase-5514	286	28	regimes	regime	NOUN
ajase-5514	286	29	/	/	SYM
ajase-5514	286	30	states	state	NOUN
ajase-5514	286	31	(	(	PUNCT
ajase-5514	286	32	i.e.	i.e.	X
ajase-5514	286	33	bull	bull	NOUN
ajase-5514	286	34	and	and	CCONJ
ajase-5514	286	35	bear	bear	NOUN
ajase-5514	286	36	)	)	PUNCT
ajase-5514	286	37	prediction	prediction	NOUN
ajase-5514	286	38	.	.	PUNCT
ajase-5514	287	1	pa	pa	PROPN
ajase-5514	287	2	ge	ge	PROPN
ajase-5514	287	3	10	10	NUM
ajase-5514	287	4	6	6	NUM
ajase-5514	287	5	https://journals.e-palli.com/home/index.php/ajase	https://journals.e-palli.com/home/index.php/ajase	PROPN
ajase-5514	287	6	am	am	NOUN
ajase-5514	287	7	.	.	PUNCT
ajase-5514	288	1	j.	j.	PROPN
ajase-5514	288	2	appl	appl	PROPN
ajase-5514	288	3	.	.	PROPN
ajase-5514	289	1	stat	stat	PROPN
ajase-5514	289	2	.	.	PUNCT
ajase-5514	290	1	econ	econ	PROPN
ajase-5514	290	2	.	.	PUNCT
ajase-5514	291	1	4(1	4(1	X
ajase-5514	291	2	)	)	PUNCT
ajase-5514	291	3	94	94	NUM
ajase-5514	291	4	-	-	SYM
ajase-5514	291	5	107	107	NUM
ajase-5514	291	6	,	,	PUNCT
ajase-5514	291	7	2025	2025	NUM
ajase-5514	291	8	in	in	ADP
ajase-5514	291	9	view	view	NOUN
ajase-5514	291	10	of	of	ADP
ajase-5514	291	11	the	the	DET
ajase-5514	291	12	aforementioned	aforementioned	ADJ
ajase-5514	291	13	,	,	PUNCT
ajase-5514	291	14	this	this	DET
ajase-5514	291	15	study	study	NOUN
ajase-5514	291	16	recommends	recommend	VERB
ajase-5514	291	17	adoption	adoption	NOUN
ajase-5514	291	18	of	of	ADP
ajase-5514	291	19	the	the	DET
ajase-5514	291	20	novel	novel	ADJ
ajase-5514	291	21	multilayer	multilayer	NOUN
ajase-5514	291	22	perceptrons	perceptron	NOUN
ajase-5514	291	23	state	state	NOUN
ajase-5514	291	24	switching	switch	VERB
ajase-5514	291	25	model	model	NOUN
ajase-5514	291	26	in	in	ADP
ajase-5514	291	27	modelling	modelling	NOUN
ajase-5514	291	28	and	and	CCONJ
ajase-5514	291	29	regime	regime	NOUN
ajase-5514	291	30	predictions	prediction	NOUN
ajase-5514	291	31	of	of	ADP
ajase-5514	291	32	time	time	NOUN
ajase-5514	291	33	series	series	NOUN
ajase-5514	291	34	returns	return	NOUN
ajase-5514	291	35	.	.	PUNCT
ajase-5514	292	1	references	reference	NOUN
ajase-5514	292	2	adejumo	adejumo	ADJ
ajase-5514	292	3	,	,	PUNCT
ajase-5514	292	4	o.	o.	PROPN
ajase-5514	292	5	a.	a.	PROPN
ajase-5514	292	6	,	,	PUNCT
ajase-5514	292	7	albert	albert	PROPN
ajase-5514	292	8	,	,	PUNCT
ajase-5514	292	9	s.	s.	PROPN
ajase-5514	292	10	,	,	PUNCT
ajase-5514	292	11	&	&	CCONJ
ajase-5514	292	12	asemota	asemota	PROPN
ajase-5514	292	13	,	,	PUNCT
ajase-5514	292	14	o.	o.	PROPN
ajase-5514	292	15	j.	j.	PROPN
ajase-5514	292	16	(	(	PUNCT
ajase-5514	292	17	2020	2020	NUM
ajase-5514	292	18	)	)	PUNCT
ajase-5514	292	19	.	.	PUNCT
ajase-5514	293	1	an	an	DET
ajase-5514	293	2	analysis	analysis	NOUN
ajase-5514	293	3	of	of	ADP
ajase-5514	293	4	stock	stock	NOUN
ajase-5514	293	5	market	market	NOUN
ajase-5514	293	6	returns	return	NOUN
ajase-5514	293	7	in	in	ADP
ajase-5514	293	8	nigeria	nigeria	PROPN
ajase-5514	293	9	.	.	PUNCT
ajase-5514	294	1	cbn	cbn	PROPN
ajase-5514	294	2	journal	journal	PROPN
ajase-5514	294	3	of	of	ADP
ajase-5514	294	4	applied	applied	ADJ
ajase-5514	294	5	statistics	statistic	NOUN
ajase-5514	294	6	,	,	PUNCT
ajase-5514	294	7	11(2	11(2	NUM
ajase-5514	294	8	)	)	PUNCT
ajase-5514	294	9	.	.	PUNCT
ajase-5514	295	1	aliyu	aliyu	PROPN
ajase-5514	295	2	,	,	PUNCT
ajase-5514	295	3	s.	s.	PROPN
ajase-5514	295	4	u.	u.	PROPN
ajase-5514	295	5	r.	r.	PROPN
ajase-5514	295	6	&	&	CCONJ
ajase-5514	295	7	wambai	wambai	PROPN
ajase-5514	295	8	,	,	PUNCT
ajase-5514	295	9	a.	a.	NOUN
ajase-5514	295	10	a.	a.	NOUN
ajase-5514	295	11	(	(	PUNCT
ajase-5514	295	12	2018	2018	NUM
ajase-5514	295	13	)	)	PUNCT
ajase-5514	295	14	.	.	PUNCT
ajase-5514	296	1	economic	economic	ADJ
ajase-5514	296	2	regimes	regime	NOUN
ajase-5514	296	3	and	and	CCONJ
ajase-5514	296	4	stock	stock	NOUN
ajase-5514	296	5	market	market	NOUN
ajase-5514	296	6	performance	performance	NOUN
ajase-5514	296	7	in	in	ADP
ajase-5514	296	8	nigeria	nigeria	PROPN
ajase-5514	296	9	:	:	PUNCT
ajase-5514	296	10	evidence	evidence	NOUN
ajase-5514	296	11	from	from	ADP
ajase-5514	296	12	regime	regime	NOUN
ajase-5514	296	13	switching	switch	VERB
ajase-5514	296	14	model	model	NOUN
ajase-5514	296	15	.	.	PUNCT
ajase-5514	297	1	munich	munich	PROPN
ajase-5514	297	2	personal	personal	PROPN
ajase-5514	297	3	repec	repec	PROPN
ajase-5514	297	4	archive	archive	PROPN
ajase-5514	297	5	mpra	mpra	PROPN
ajase-5514	297	6	,	,	PUNCT
ajase-5514	297	7	91430	91430	NUM
ajase-5514	297	8	.	.	PUNCT
ajase-5514	298	1	retrieve	retrieve	VERB
ajase-5514	298	2	from	from	ADP
ajase-5514	298	3	https://mpra	https://mpra	PROPN
ajase-5514	298	4	.	.	PUNCT
ajase-5514	299	1	ub.uni-muenchen.de/91430/	ub.uni-muenchen.de/91430/	PROPN
ajase-5514	299	2	al	al	PROPN
ajase-5514	299	3	-	-	PUNCT
ajase-5514	299	4	sulaiman	sulaiman	PROPN
ajase-5514	299	5	,	,	PUNCT
ajase-5514	299	6	t.	t.	PROPN
ajase-5514	299	7	(	(	PUNCT
ajase-5514	299	8	2024	2024	NUM
ajase-5514	299	9	)	)	PUNCT
ajase-5514	299	10	.	.	PUNCT
ajase-5514	300	1	review	review	NOUN
ajase-5514	300	2	of	of	ADP
ajase-5514	300	3	recent	recent	ADJ
ajase-5514	300	4	research	research	NOUN
ajase-5514	300	5	directions	direction	NOUN
ajase-5514	300	6	and	and	CCONJ
ajase-5514	300	7	practical	practical	ADJ
ajase-5514	300	8	implementation	implementation	NOUN
ajase-5514	300	9	of	of	ADP
ajase-5514	300	10	lowfrequency	lowfrequency	ADJ
ajase-5514	300	11	algorithmic	algorithmic	ADJ
ajase-5514	300	12	trading	trading	NOUN
ajase-5514	300	13	.	.	PUNCT
ajase-5514	301	1	american	american	ADJ
ajase-5514	301	2	journal	journal	PROPN
ajase-5514	301	3	of	of	ADP
ajase-5514	301	4	financial	financial	ADJ
ajase-5514	301	5	technology	technology	NOUN
ajase-5514	301	6	and	and	CCONJ
ajase-5514	301	7	innovation	innovation	NOUN
ajase-5514	301	8	,	,	PUNCT
ajase-5514	301	9	2(1	2(1	NUM
ajase-5514	301	10	)	)	PUNCT
ajase-5514	301	11	,	,	PUNCT
ajase-5514	301	12	1	1	NUM
ajase-5514	301	13	-	-	SYM
ajase-5514	301	14	14	14	NUM
ajase-5514	301	15	.	.	PUNCT
ajase-5514	302	1	altuğ	altuğ	ADJ
ajase-5514	302	2	,	,	PUNCT
ajase-5514	302	3	s.	s.	PROPN
ajase-5514	302	4	,	,	PUNCT
ajase-5514	302	5	&	&	CCONJ
ajase-5514	302	6	bildirici	bildirici	NOUN
ajase-5514	302	7	,	,	PUNCT
ajase-5514	302	8	m.	m.	NOUN
ajase-5514	302	9	(	(	PUNCT
ajase-5514	302	10	2010	2010	NUM
ajase-5514	302	11	)	)	PUNCT
ajase-5514	302	12	.	.	PUNCT
ajase-5514	303	1	business	business	NOUN
ajase-5514	303	2	cycles	cycle	NOUN
ajase-5514	303	3	around	around	ADP
ajase-5514	303	4	the	the	DET
ajase-5514	303	5	globe	globe	NOUN
ajase-5514	303	6	:	:	PUNCT
ajase-5514	303	7	a	a	DET
ajase-5514	303	8	regime	regime	NOUN
ajase-5514	303	9	switching	switch	VERB
ajase-5514	303	10	approach	approach	NOUN
ajase-5514	303	11	(	(	PUNCT
ajase-5514	303	12	working	working	NOUN
ajase-5514	303	13	paper	paper	NOUN
ajase-5514	303	14	no	no	INTJ
ajase-5514	303	15	.	.	NOUN
ajase-5514	303	16	1009	1009	NUM
ajase-5514	303	17	)	)	PUNCT
ajase-5514	303	18	.	.	PUNCT
ajase-5514	304	1	antulov	antulov	NOUN
ajase-5514	304	2	-	-	PUNCT
ajase-5514	304	3	fantulin	fantulin	NOUN
ajase-5514	304	4	,	,	PUNCT
ajase-5514	304	5	n.	n.	NOUN
ajase-5514	304	6	,	,	PUNCT
ajase-5514	304	7	cauderan	cauderan	NOUN
ajase-5514	304	8	,	,	PUNCT
ajase-5514	304	9	a.	a.	PROPN
ajase-5514	304	10	,	,	PUNCT
ajase-5514	304	11	&	&	CCONJ
ajase-5514	304	12	kolm	kolm	PROPN
ajase-5514	304	13	,	,	PUNCT
ajase-5514	304	14	p.	p.	NOUN
ajase-5514	304	15	n.	n.	NOUN
ajase-5514	304	16	(	(	PUNCT
ajase-5514	304	17	2024	2024	NUM
ajase-5514	304	18	)	)	PUNCT
ajase-5514	304	19	.	.	PUNCT
ajase-5514	305	1	a	a	DET
ajase-5514	305	2	dynamic	dynamic	ADJ
ajase-5514	305	3	regime	regime	NOUN
ajase-5514	305	4	-	-	PUNCT
ajase-5514	305	5	switching	switch	VERB
ajase-5514	305	6	model	model	NOUN
ajase-5514	305	7	using	use	VERB
ajase-5514	305	8	gated	gate	VERB
ajase-5514	305	9	recurrent	recurrent	ADJ
ajase-5514	305	10	straight	straight	ADJ
ajase-5514	305	11	-	-	PUNCT
ajase-5514	305	12	through	through	ADP
ajase-5514	305	13	units	unit	NOUN
ajase-5514	305	14	.	.	PUNCT
ajase-5514	306	1	journal	journal	PROPN
ajase-5514	306	2	of	of	ADP
ajase-5514	306	3	financial	financial	ADJ
ajase-5514	306	4	data	datum	NOUN
ajase-5514	306	5	science	science	NOUN
ajase-5514	306	6	,	,	PUNCT
ajase-5514	306	7	6(4	6(4	NUM
ajase-5514	306	8	)	)	PUNCT
ajase-5514	306	9	.	.	PUNCT
ajase-5514	307	1	becker	becker	NOUN
ajase-5514	307	2	-	-	PUNCT
ajase-5514	307	3	ehmck	ehmck	PROPN
ajase-5514	307	4	,	,	PUNCT
ajase-5514	307	5	p.	p.	PROPN
ajase-5514	307	6	,	,	PUNCT
ajase-5514	307	7	karl	karl	PROPN
ajase-5514	307	8	,	,	PUNCT
ajase-5514	307	9	m.	m.	NOUN
ajase-5514	307	10	,	,	PUNCT
ajase-5514	307	11	peters	peters	PROPN
ajase-5514	307	12	,	,	PUNCT
ajase-5514	307	13	j.	j.	PROPN
ajase-5514	307	14	,	,	PUNCT
ajase-5514	307	15	&	&	CCONJ
ajase-5514	307	16	van	van	PROPN
ajase-5514	307	17	der	der	PROPN
ajase-5514	307	18	smagt	smagt	PROPN
ajase-5514	307	19	,	,	PUNCT
ajase-5514	307	20	p.	p.	NOUN
ajase-5514	307	21	(	(	PUNCT
ajase-5514	307	22	2020	2020	NUM
ajase-5514	307	23	)	)	PUNCT
ajase-5514	307	24	.	.	PUNCT
ajase-5514	308	1	learning	learn	VERB
ajase-5514	308	2	to	to	PART
ajase-5514	308	3	fly	fly	VERB
ajase-5514	308	4	via	via	ADP
ajase-5514	308	5	deep	deep	ADJ
ajase-5514	308	6	model	model	NOUN
ajase-5514	308	7	-	-	PUNCT
ajase-5514	308	8	based	base	VERB
ajase-5514	308	9	reinforcement	reinforcement	NOUN
ajase-5514	308	10	learning	learning	NOUN
ajase-5514	308	11	.	.	PUNCT
ajase-5514	309	1	arxiv	arxiv	PROPN
ajase-5514	309	2	preprint	preprint	PROPN
ajase-5514	309	3	arxiv:2003.08876	arxiv:2003.08876	PROPN
ajase-5514	309	4	.	.	PUNCT
ajase-5514	310	1	bekaert	bekaert	PROPN
ajase-5514	310	2	,	,	PUNCT
ajase-5514	310	3	g.	g.	PROPN
ajase-5514	310	4	,	,	PUNCT
ajase-5514	310	5	&	&	CCONJ
ajase-5514	310	6	hodrick	hodrick	PROPN
ajase-5514	310	7	,	,	PUNCT
ajase-5514	310	8	r.	r.	PROPN
ajase-5514	310	9	j.	j.	PROPN
ajase-5514	310	10	(	(	PUNCT
ajase-5514	310	11	1992	1992	NUM
ajase-5514	310	12	)	)	PUNCT
ajase-5514	310	13	.	.	PUNCT
ajase-5514	311	1	characterizing	characterize	VERB
ajase-5514	311	2	predictable	predictable	ADJ
ajase-5514	311	3	components	component	NOUN
ajase-5514	311	4	in	in	ADP
ajase-5514	311	5	excess	excess	ADJ
ajase-5514	311	6	returns	return	NOUN
ajase-5514	311	7	on	on	ADP
ajase-5514	311	8	equity	equity	NOUN
ajase-5514	311	9	and	and	CCONJ
ajase-5514	311	10	foreign	foreign	ADJ
ajase-5514	311	11	exchange	exchange	NOUN
ajase-5514	311	12	markets	market	NOUN
ajase-5514	311	13	.	.	PUNCT
ajase-5514	312	1	the	the	DET
ajase-5514	312	2	journal	journal	PROPN
ajase-5514	312	3	of	of	ADP
ajase-5514	312	4	finance	finance	PROPN
ajase-5514	312	5	,	,	PUNCT
ajase-5514	312	6	47(2	47(2	PROPN
ajase-5514	312	7	)	)	PUNCT
ajase-5514	312	8	,	,	PUNCT
ajase-5514	312	9	467	467	NUM
ajase-5514	312	10	-	-	SYM
ajase-5514	312	11	509	509	NUM
ajase-5514	312	12	.	.	PUNCT
ajase-5514	313	1	bollen	bollen	PROPN
ajase-5514	313	2	,	,	PUNCT
ajase-5514	313	3	n.	n.	PROPN
ajase-5514	313	4	p.	p.	PROPN
ajase-5514	313	5	,	,	PUNCT
ajase-5514	313	6	gray	gray	ADJ
ajase-5514	313	7	,	,	PUNCT
ajase-5514	313	8	s.	s.	PROPN
ajase-5514	313	9	f.	f.	PROPN
ajase-5514	313	10	,	,	PUNCT
ajase-5514	313	11	&	&	CCONJ
ajase-5514	313	12	whaley	whaley	PROPN
ajase-5514	313	13	,	,	PUNCT
ajase-5514	313	14	r.	r.	PROPN
ajase-5514	313	15	e.	e.	PROPN
ajase-5514	313	16	(	(	PUNCT
ajase-5514	313	17	2000	2000	NUM
ajase-5514	313	18	)	)	PUNCT
ajase-5514	313	19	.	.	PUNCT
ajase-5514	314	1	regime	regime	NOUN
ajase-5514	314	2	switching	switch	VERB
ajase-5514	314	3	in	in	ADP
ajase-5514	314	4	foreign	foreign	ADJ
ajase-5514	314	5	exchange	exchange	NOUN
ajase-5514	314	6	rates	rate	NOUN
ajase-5514	314	7	:	:	PUNCT
ajase-5514	314	8	:	:	PUNCT
ajase-5514	314	9	evidence	evidence	NOUN
ajase-5514	314	10	from	from	ADP
ajase-5514	314	11	currency	currency	NOUN
ajase-5514	314	12	option	option	NOUN
ajase-5514	314	13	prices	price	NOUN
ajase-5514	314	14	.	.	PUNCT
ajase-5514	315	1	journal	journal	PROPN
ajase-5514	315	2	of	of	ADP
ajase-5514	315	3	econometrics	econometric	NOUN
ajase-5514	315	4	,	,	PUNCT
ajase-5514	315	5	94(1	94(1	NUM
ajase-5514	315	6	-	-	SYM
ajase-5514	315	7	2	2	NUM
ajase-5514	315	8	)	)	PUNCT
ajase-5514	315	9	,	,	PUNCT
ajase-5514	315	10	239	239	NUM
ajase-5514	315	11	-	-	SYM
ajase-5514	315	12	276	276	NUM
ajase-5514	315	13	.	.	PUNCT
ajase-5514	315	14	bollerslev	bollerslev	ADJ
ajase-5514	315	15	,	,	PUNCT
ajase-5514	315	16	t.	t.	PROPN
ajase-5514	315	17	(	(	PUNCT
ajase-5514	315	18	1986	1986	NUM
ajase-5514	315	19	)	)	PUNCT
ajase-5514	315	20	.	.	PUNCT
ajase-5514	316	1	generalized	generalize	VERB
ajase-5514	316	2	autoregressive	autoregressive	ADJ
ajase-5514	316	3	conditional	conditional	ADJ
ajase-5514	316	4	heteroskedasticity	heteroskedasticity	NOUN
ajase-5514	316	5	.	.	PUNCT
ajase-5514	317	1	journal	journal	PROPN
ajase-5514	317	2	of	of	ADP
ajase-5514	317	3	econometrics	econometric	NOUN
ajase-5514	317	4	,	,	PUNCT
ajase-5514	317	5	31(3	31(3	NUM
ajase-5514	317	6	)	)	PUNCT
ajase-5514	317	7	,	,	PUNCT
ajase-5514	317	8	307	307	NUM
ajase-5514	317	9	-	-	SYM
ajase-5514	317	10	327	327	NUM
ajase-5514	317	11	.	.	PUNCT
ajase-5514	318	1	chen	chen	PROPN
ajase-5514	318	2	,	,	PUNCT
ajase-5514	318	3	l.	l.	PROPN
ajase-5514	318	4	,	,	PUNCT
ajase-5514	318	5	m.	m.	NOUN
ajase-5514	318	6	pelger	pelger	NOUN
ajase-5514	318	7	,	,	PUNCT
ajase-5514	318	8	&	&	CCONJ
ajase-5514	318	9	j.	j.	PROPN
ajase-5514	318	10	zhu	zhu	PROPN
ajase-5514	318	11	(	(	PUNCT
ajase-5514	318	12	2019	2019	NUM
ajase-5514	318	13	)	)	PUNCT
ajase-5514	318	14	.	.	PUNCT
ajase-5514	319	1	deep	deep	ADJ
ajase-5514	319	2	learning	learning	NOUN
ajase-5514	319	3	in	in	ADP
ajase-5514	319	4	asset	asset	NOUN
ajase-5514	319	5	pricing	pricing	NOUN
ajase-5514	319	6	.	.	PUNCT
ajase-5514	320	1	available	available	ADJ
ajase-5514	320	2	at	at	ADP
ajase-5514	320	3	ssrn3350138	ssrn3350138	PROPN
ajase-5514	320	4	chow	chow	PROPN
ajase-5514	320	5	,	,	PUNCT
ajase-5514	320	6	s.	s.	PROPN
ajase-5514	320	7	m.	m.	PROPN
ajase-5514	320	8	,	,	PUNCT
ajase-5514	320	9	&	&	CCONJ
ajase-5514	320	10	zhang	zhang	PROPN
ajase-5514	320	11	,	,	PUNCT
ajase-5514	320	12	g.	g.	PROPN
ajase-5514	320	13	(	(	PUNCT
ajase-5514	320	14	2013	2013	NUM
ajase-5514	320	15	)	)	PUNCT
ajase-5514	320	16	.	.	PUNCT
ajase-5514	321	1	nonlinear	nonlinear	ADJ
ajase-5514	321	2	regimeswitching	regimeswitche	VERB
ajase-5514	321	3	state	state	NOUN
ajase-5514	321	4	-	-	PUNCT
ajase-5514	321	5	space	space	NOUN
ajase-5514	321	6	(	(	PUNCT
ajase-5514	321	7	rsss	rsss	NOUN
ajase-5514	321	8	)	)	PUNCT
ajase-5514	321	9	models	model	NOUN
ajase-5514	321	10	.	.	PUNCT
ajase-5514	322	1	psychometrika	psychometrika	NOUN
ajase-5514	322	2	,	,	PUNCT
ajase-5514	322	3	78(4	78(4	NUM
ajase-5514	322	4	)	)	PUNCT
ajase-5514	322	5	,	,	PUNCT
ajase-5514	322	6	740	740	NUM
ajase-5514	322	7	-	-	SYM
ajase-5514	322	8	768	768	NUM
ajase-5514	322	9	.	.	PUNCT
ajase-5514	323	1	christensen	christensen	PROPN
ajase-5514	323	2	,	,	PUNCT
ajase-5514	323	3	k.	k.	PROPN
ajase-5514	323	4	,	,	PUNCT
ajase-5514	323	5	siggaard	siggaard	NOUN
ajase-5514	323	6	,	,	PUNCT
ajase-5514	323	7	m.	m.	NOUN
ajase-5514	323	8	,	,	PUNCT
ajase-5514	323	9	&	&	CCONJ
ajase-5514	323	10	veliyev	veliyev	PROPN
ajase-5514	323	11	,	,	PUNCT
ajase-5514	323	12	b.	b.	PROPN
ajase-5514	323	13	(	(	PUNCT
ajase-5514	323	14	2023	2023	NUM
ajase-5514	323	15	)	)	PUNCT
ajase-5514	323	16	.	.	PUNCT
ajase-5514	324	1	a	a	DET
ajase-5514	324	2	machine	machine	NOUN
ajase-5514	324	3	learning	learn	VERB
ajase-5514	324	4	approach	approach	NOUN
ajase-5514	324	5	to	to	ADP
ajase-5514	324	6	volatility	volatility	NOUN
ajase-5514	324	7	forecasting	forecasting	NOUN
ajase-5514	324	8	.	.	PUNCT
ajase-5514	325	1	journal	journal	NOUN
ajase-5514	325	2	of	of	ADP
ajase-5514	325	3	financial	financial	ADJ
ajase-5514	325	4	econometrics	econometric	NOUN
ajase-5514	325	5	,	,	PUNCT
ajase-5514	325	6	21(5	21(5	NUM
ajase-5514	325	7	)	)	PUNCT
ajase-5514	325	8	,	,	PUNCT
ajase-5514	325	9	1680	1680	NUM
ajase-5514	325	10	-	-	SYM
ajase-5514	325	11	1727	1727	NUM
ajase-5514	325	12	.	.	PUNCT
ajase-5514	326	1	cont	cont	PROPN
ajase-5514	326	2	,	,	PUNCT
ajase-5514	326	3	r.	r.	PROPN
ajase-5514	326	4	(	(	PUNCT
ajase-5514	326	5	2007	2007	NUM
ajase-5514	326	6	)	)	PUNCT
ajase-5514	326	7	.	.	PUNCT
ajase-5514	327	1	long	long	ADJ
ajase-5514	327	2	memory	memory	NOUN
ajase-5514	327	3	in	in	ADP
ajase-5514	327	4	economics	economic	NOUN
ajase-5514	327	5	.	.	PUNCT
ajase-5514	328	1	in	in	ADP
ajase-5514	328	2	returns	return	NOUN
ajase-5514	328	3	clustering	cluster	VERB
ajase-5514	328	4	in	in	ADP
ajase-5514	328	5	financial	financial	ADJ
ajase-5514	328	6	markets	market	NOUN
ajase-5514	328	7	:	:	PUNCT
ajase-5514	328	8	empirical	empirical	ADJ
ajase-5514	328	9	facts	fact	NOUN
ajase-5514	328	10	and	and	CCONJ
ajase-5514	328	11	agentbased	agentbase	VERB
ajase-5514	328	12	models	model	NOUN
ajase-5514	328	13	(	(	PUNCT
ajase-5514	328	14	pp	pp	ADJ
ajase-5514	328	15	.	.	PUNCT
ajase-5514	328	16	289–309	289–309	NUM
ajase-5514	328	17	)	)	PUNCT
ajase-5514	328	18	.	.	PUNCT
ajase-5514	329	1	springer	springer	NOUN
ajase-5514	329	2	.	.	PUNCT
ajase-5514	330	1	dong	dong	PROPN
ajase-5514	330	2	,	,	PUNCT
ajase-5514	330	3	h.	h.	PROPN
ajase-5514	330	4	,	,	PUNCT
ajase-5514	330	5	chen	chen	PROPN
ajase-5514	330	6	,	,	PUNCT
ajase-5514	330	7	l.	l.	PROPN
ajase-5514	330	8	,	,	PUNCT
ajase-5514	330	9	zhang	zhang	PROPN
ajase-5514	330	10	,	,	PUNCT
ajase-5514	330	11	x.	x.	PROPN
ajase-5514	330	12	,	,	PUNCT
ajase-5514	330	13	failler	failler	PROPN
ajase-5514	330	14	,	,	PUNCT
ajase-5514	330	15	p.	p.	NOUN
ajase-5514	330	16	,	,	PUNCT
ajase-5514	330	17	&	&	CCONJ
ajase-5514	330	18	xu	xu	PROPN
ajase-5514	330	19	,	,	PUNCT
ajase-5514	330	20	s.	s.	PROPN
ajase-5514	330	21	(	(	PUNCT
ajase-5514	330	22	2020	2020	NUM
ajase-5514	330	23	)	)	PUNCT
ajase-5514	330	24	.	.	PUNCT
ajase-5514	331	1	the	the	DET
ajase-5514	331	2	asymmetric	asymmetric	ADJ
ajase-5514	331	3	effect	effect	NOUN
ajase-5514	331	4	of	of	ADP
ajase-5514	331	5	volatility	volatility	NOUN
ajase-5514	331	6	spillover	spillover	VERB
ajase-5514	331	7	in	in	ADP
ajase-5514	331	8	global	global	ADJ
ajase-5514	331	9	virtual	virtual	ADJ
ajase-5514	331	10	financial	financial	ADJ
ajase-5514	331	11	asset	asset	NOUN
ajase-5514	331	12	markets	market	NOUN
ajase-5514	331	13	:	:	PUNCT
ajase-5514	331	14	the	the	DET
ajase-5514	331	15	case	case	NOUN
ajase-5514	331	16	of	of	ADP
ajase-5514	331	17	bitcoin	bitcoin	NOUN
ajase-5514	331	18	.	.	PUNCT
ajase-5514	332	1	emerging	emerge	VERB
ajase-5514	332	2	markets	market	NOUN
ajase-5514	332	3	finance	finance	NOUN
ajase-5514	332	4	and	and	CCONJ
ajase-5514	332	5	trade	trade	NOUN
ajase-5514	332	6	,	,	PUNCT
ajase-5514	332	7	56(6	56(6	NUM
ajase-5514	332	8	)	)	PUNCT
ajase-5514	332	9	,	,	PUNCT
ajase-5514	332	10	1293	1293	NUM
ajase-5514	332	11	-	-	SYM
ajase-5514	332	12	1311	1311	NUM
ajase-5514	332	13	.	.	PUNCT
ajase-5514	333	1	engle	engle	PROPN
ajase-5514	333	2	,	,	PUNCT
ajase-5514	333	3	r.	r.	PROPN
ajase-5514	333	4	f.	f.	PROPN
ajase-5514	333	5	(	(	PUNCT
ajase-5514	333	6	1982	1982	NUM
ajase-5514	333	7	)	)	PUNCT
ajase-5514	333	8	.	.	PUNCT
ajase-5514	334	1	autoregressive	autoregressive	ADJ
ajase-5514	334	2	conditional	conditional	ADJ
ajase-5514	334	3	heteroscedasticity	heteroscedasticity	NOUN
ajase-5514	334	4	with	with	ADP
ajase-5514	334	5	estimates	estimate	NOUN
ajase-5514	334	6	of	of	ADP
ajase-5514	334	7	the	the	DET
ajase-5514	334	8	variance	variance	NOUN
ajase-5514	334	9	of	of	ADP
ajase-5514	334	10	united	united	PROPN
ajase-5514	334	11	kingdom	kingdom	PROPN
ajase-5514	334	12	inflation	inflation	NOUN
ajase-5514	334	13	.	.	PUNCT
ajase-5514	335	1	econometrica	econometrica	PROPN
ajase-5514	335	2	:	:	PUNCT
ajase-5514	335	3	journal	journal	NOUN
ajase-5514	335	4	of	of	ADP
ajase-5514	335	5	the	the	DET
ajase-5514	335	6	econometric	econometric	ADJ
ajase-5514	335	7	society	society	NOUN
ajase-5514	335	8	,	,	PUNCT
ajase-5514	335	9	987–1007	987–1007	NUM
ajase-5514	335	10	.	.	PUNCT
ajase-5514	336	1	https://doi	https://doi	PROPN
ajase-5514	336	2	.	.	PUNCT
ajase-5514	337	1	org/10.2307/1912773	org/10.2307/1912773	PROPN
ajase-5514	337	2	farnoosh	farnoosh	PROPN
ajase-5514	337	3	,	,	PUNCT
ajase-5514	337	4	a.	a.	NOUN
ajase-5514	337	5	,	,	PUNCT
ajase-5514	337	6	azari	azari	PROPN
ajase-5514	337	7	,	,	PUNCT
ajase-5514	337	8	b.	b.	PROPN
ajase-5514	337	9	,	,	PUNCT
ajase-5514	337	10	&	&	CCONJ
ajase-5514	337	11	ostadabbas	ostadabbas	PROPN
ajase-5514	337	12	,	,	PUNCT
ajase-5514	337	13	s.	s.	PROPN
ajase-5514	337	14	(	(	PUNCT
ajase-5514	337	15	2021	2021	NUM
ajase-5514	337	16	,	,	PUNCT
ajase-5514	337	17	may	may	AUX
ajase-5514	337	18	)	)	PUNCT
ajase-5514	337	19	.	.	PUNCT
ajase-5514	338	1	deep	deep	ADJ
ajase-5514	338	2	switching	switch	VERB
ajase-5514	338	3	auto	auto	NOUN
ajase-5514	338	4	-	-	PUNCT
ajase-5514	338	5	regressive	regressive	ADJ
ajase-5514	338	6	factorization	factorization	NOUN
ajase-5514	338	7	:	:	PUNCT
ajase-5514	338	8	application	application	NOUN
ajase-5514	338	9	to	to	ADP
ajase-5514	338	10	time	time	NOUN
ajase-5514	338	11	series	series	PROPN
ajase-5514	338	12	forecasting	forecasting	NOUN
ajase-5514	338	13	.	.	PUNCT
ajase-5514	339	1	in	in	ADP
ajase-5514	339	2	proceedings	proceeding	NOUN
ajase-5514	339	3	of	of	ADP
ajase-5514	339	4	the	the	DET
ajase-5514	339	5	aaai	aaai	PROPN
ajase-5514	339	6	conference	conference	NOUN
ajase-5514	339	7	on	on	ADP
ajase-5514	339	8	artificial	artificial	ADJ
ajase-5514	339	9	intelligence	intelligence	NOUN
ajase-5514	339	10	(	(	PUNCT
ajase-5514	339	11	vol	vol	NOUN
ajase-5514	339	12	.	.	PROPN
ajase-5514	339	13	35	35	NUM
ajase-5514	339	14	,	,	PUNCT
ajase-5514	339	15	no	no	INTJ
ajase-5514	339	16	.	.	NOUN
ajase-5514	339	17	8	8	NUM
ajase-5514	339	18	,	,	PUNCT
ajase-5514	339	19	pp	pp	ADJ
ajase-5514	339	20	.	.	PUNCT
ajase-5514	339	21	7394–7403	7394–7403	NOUN
ajase-5514	339	22	)	)	PUNCT
ajase-5514	339	23	.	.	PUNCT
ajase-5514	340	1	aaai	aaai	PROPN
ajase-5514	340	2	press	press	PROPN
ajase-5514	340	3	.	.	PUNCT
ajase-5514	341	1	frömmel	frömmel	NOUN
ajase-5514	341	2	,	,	PUNCT
ajase-5514	341	3	m.	m.	NOUN
ajase-5514	341	4	,	,	PUNCT
ajase-5514	341	5	macdonald	macdonald	PROPN
ajase-5514	341	6	,	,	PUNCT
ajase-5514	341	7	r.	r.	PROPN
ajase-5514	341	8	,	,	PUNCT
ajase-5514	341	9	&	&	CCONJ
ajase-5514	341	10	menkhoff	menkhoff	PROPN
ajase-5514	341	11	,	,	PUNCT
ajase-5514	341	12	l.	l.	PROPN
ajase-5514	341	13	(	(	PUNCT
ajase-5514	341	14	2005	2005	NUM
ajase-5514	341	15	)	)	PUNCT
ajase-5514	341	16	.	.	PUNCT
ajase-5514	342	1	markov	markov	NOUN
ajase-5514	342	2	switching	switch	VERB
ajase-5514	342	3	regimes	regime	NOUN
ajase-5514	342	4	in	in	ADP
ajase-5514	342	5	a	a	DET
ajase-5514	342	6	monetary	monetary	ADJ
ajase-5514	342	7	exchange	exchange	NOUN
ajase-5514	342	8	rate	rate	NOUN
ajase-5514	342	9	model	model	NOUN
ajase-5514	342	10	.	.	PUNCT
ajase-5514	343	1	economic	economic	ADJ
ajase-5514	343	2	modelling	modelling	NOUN
ajase-5514	343	3	,	,	PUNCT
ajase-5514	343	4	22(3	22(3	NUM
ajase-5514	343	5	)	)	PUNCT
ajase-5514	343	6	,	,	PUNCT
ajase-5514	343	7	485	485	NUM
ajase-5514	343	8	-	-	SYM
ajase-5514	343	9	502	502	NUM
ajase-5514	343	10	.	.	PUNCT
ajase-5514	344	1	gu	gu	PROPN
ajase-5514	344	2	,	,	PUNCT
ajase-5514	344	3	s.	s.	PROPN
ajase-5514	344	4	,	,	PUNCT
ajase-5514	344	5	kelly	kelly	PROPN
ajase-5514	344	6	,	,	PUNCT
ajase-5514	344	7	b.	b.	PROPN
ajase-5514	344	8	,	,	PUNCT
ajase-5514	344	9	&	&	CCONJ
ajase-5514	344	10	xiu	xiu	PROPN
ajase-5514	344	11	,	,	PUNCT
ajase-5514	344	12	d.	d.	PROPN
ajase-5514	344	13	(	(	PUNCT
ajase-5514	344	14	2020	2020	NUM
ajase-5514	344	15	)	)	PUNCT
ajase-5514	344	16	.	.	PUNCT
ajase-5514	345	1	empirical	empirical	ADJ
ajase-5514	345	2	asset	asset	NOUN
ajase-5514	345	3	pricing	pricing	NOUN
ajase-5514	345	4	via	via	ADP
ajase-5514	345	5	machine	machine	NOUN
ajase-5514	345	6	learning	learning	NOUN
ajase-5514	345	7	.	.	PUNCT
ajase-5514	346	1	the	the	DET
ajase-5514	346	2	review	review	NOUN
ajase-5514	346	3	of	of	ADP
ajase-5514	346	4	financial	financial	ADJ
ajase-5514	346	5	studies	study	NOUN
ajase-5514	346	6	,	,	PUNCT
ajase-5514	346	7	33(5	33(5	NUM
ajase-5514	346	8	)	)	PUNCT
ajase-5514	346	9	,	,	PUNCT
ajase-5514	346	10	2223–2273	2223–2273	NUM
ajase-5514	346	11	.	.	PUNCT
ajase-5514	346	12	hamilton	hamilton	PROPN
ajase-5514	346	13	,	,	PUNCT
ajase-5514	346	14	j.	j.	PROPN
ajase-5514	346	15	d.	d.	PROPN
ajase-5514	346	16	(	(	PUNCT
ajase-5514	346	17	1989	1989	NUM
ajase-5514	346	18	)	)	PUNCT
ajase-5514	346	19	.	.	PUNCT
ajase-5514	347	1	a	a	DET
ajase-5514	347	2	new	new	ADJ
ajase-5514	347	3	approach	approach	NOUN
ajase-5514	347	4	to	to	ADP
ajase-5514	347	5	the	the	DET
ajase-5514	347	6	economic	economic	ADJ
ajase-5514	347	7	analysis	analysis	NOUN
ajase-5514	347	8	of	of	ADP
ajase-5514	347	9	nonstationary	nonstationary	ADJ
ajase-5514	347	10	time	time	NOUN
ajase-5514	347	11	series	series	NOUN
ajase-5514	347	12	and	and	CCONJ
ajase-5514	347	13	the	the	DET
ajase-5514	347	14	business	business	NOUN
ajase-5514	347	15	cycle	cycle	NOUN
ajase-5514	347	16	.	.	PUNCT
ajase-5514	348	1	econometrica	econometrica	PROPN
ajase-5514	348	2	,	,	PUNCT
ajase-5514	348	3	57(2	57(2	NUM
ajase-5514	348	4	)	)	PUNCT
ajase-5514	348	5	,	,	PUNCT
ajase-5514	348	6	357–384	357–384	NUM
ajase-5514	348	7	johnson	johnson	PROPN
ajase-5514	348	8	,	,	PUNCT
ajase-5514	348	9	p.	p.	PROPN
ajase-5514	348	10	,	,	PUNCT
ajase-5514	348	11	szabó	szabó	PROPN
ajase-5514	348	12	,	,	PUNCT
ajase-5514	348	13	d.	d.	PROPN
ajase-5514	348	14	z.	z.	PROPN
ajase-5514	348	15	,	,	PUNCT
ajase-5514	348	16	&	&	CCONJ
ajase-5514	348	17	duck	duck	NOUN
ajase-5514	348	18	,	,	PUNCT
ajase-5514	348	19	p.	p.	NOUN
ajase-5514	348	20	(	(	PUNCT
ajase-5514	348	21	2024	2024	NUM
ajase-5514	348	22	)	)	PUNCT
ajase-5514	348	23	.	.	PUNCT
ajase-5514	349	1	optimal	optimal	ADJ
ajase-5514	349	2	trading	trading	NOUN
ajase-5514	349	3	with	with	ADP
ajase-5514	349	4	regime	regime	NOUN
ajase-5514	349	5	switching	switching	NOUN
ajase-5514	349	6	:	:	PUNCT
ajase-5514	349	7	numerical	numerical	ADJ
ajase-5514	349	8	and	and	CCONJ
ajase-5514	349	9	analytic	analytic	ADJ
ajase-5514	349	10	techniques	technique	NOUN
ajase-5514	349	11	applied	apply	VERB
ajase-5514	349	12	to	to	ADP
ajase-5514	349	13	valuing	value	VERB
ajase-5514	349	14	storage	storage	NOUN
ajase-5514	349	15	in	in	ADP
ajase-5514	349	16	an	an	DET
ajase-5514	349	17	electricity	electricity	NOUN
ajase-5514	349	18	balancing	balancing	NOUN
ajase-5514	349	19	market	market	NOUN
ajase-5514	349	20	.	.	PUNCT
ajase-5514	350	1	european	european	ADJ
ajase-5514	350	2	journal	journal	PROPN
ajase-5514	350	3	of	of	ADP
ajase-5514	350	4	operational	operational	ADJ
ajase-5514	350	5	research	research	NOUN
ajase-5514	350	6	,	,	PUNCT
ajase-5514	350	7	319(2	319(2	NUM
ajase-5514	350	8	)	)	PUNCT
ajase-5514	350	9	,	,	PUNCT
ajase-5514	350	10	611	611	NUM
ajase-5514	350	11	-	-	SYM
ajase-5514	350	12	624	624	NUM
ajase-5514	350	13	.	.	PUNCT
ajase-5514	351	1	kurle	kurle	PROPN
ajase-5514	351	2	,	,	PUNCT
ajase-5514	351	3	r.	r.	PROPN
ajase-5514	351	4	,	,	PUNCT
ajase-5514	351	5	rangapuram	rangapuram	NOUN
ajase-5514	351	6	,	,	PUNCT
ajase-5514	351	7	s.	s.	PROPN
ajase-5514	351	8	s.	s.	PROPN
ajase-5514	351	9	,	,	PUNCT
ajase-5514	351	10	de	de	X
ajase-5514	351	11	bézenac	bézenac	NOUN
ajase-5514	351	12	,	,	PUNCT
ajase-5514	351	13	e.	e.	PROPN
ajase-5514	351	14	,	,	PUNCT
ajase-5514	351	15	günnemann	günnemann	PROPN
ajase-5514	351	16	,	,	PUNCT
ajase-5514	351	17	s.	s.	PROPN
ajase-5514	351	18	,	,	PUNCT
ajase-5514	351	19	&	&	CCONJ
ajase-5514	351	20	gasthaus	gasthaus	PROPN
ajase-5514	351	21	,	,	PUNCT
ajase-5514	351	22	j.	j.	PROPN
ajase-5514	351	23	(	(	PUNCT
ajase-5514	351	24	2020	2020	NUM
ajase-5514	351	25	)	)	PUNCT
ajase-5514	351	26	.	.	PUNCT
ajase-5514	352	1	deep	deep	ADJ
ajase-5514	352	2	rao	rao	NOUN
ajase-5514	352	3	-	-	PUNCT
ajase-5514	352	4	blackwellised	blackwellise	VERB
ajase-5514	352	5	particle	particle	NOUN
ajase-5514	352	6	filters	filter	NOUN
ajase-5514	352	7	for	for	ADP
ajase-5514	352	8	time	time	NOUN
ajase-5514	352	9	series	series	PROPN
ajase-5514	352	10	forecasting	forecasting	PROPN
ajase-5514	352	11	.	.	PUNCT
ajase-5514	353	1	advances	advance	NOUN
ajase-5514	353	2	in	in	ADP
ajase-5514	353	3	neural	neural	ADJ
ajase-5514	353	4	information	information	NOUN
ajase-5514	353	5	processing	processing	NOUN
ajase-5514	353	6	systems	system	NOUN
ajase-5514	353	7	,	,	PUNCT
ajase-5514	353	8	33	33	NUM
ajase-5514	353	9	,	,	PUNCT
ajase-5514	353	10	15371	15371	NUM
ajase-5514	353	11	-	-	SYM
ajase-5514	353	12	15382	15382	NUM
ajase-5514	353	13	.	.	PUNCT
ajase-5514	354	1	liao	liao	PROPN
ajase-5514	354	2	,	,	PUNCT
ajase-5514	354	3	r.	r.	PROPN
ajase-5514	354	4	,	,	PUNCT
ajase-5514	354	5	yamaka	yamaka	PROPN
ajase-5514	354	6	,	,	PUNCT
ajase-5514	354	7	w.	w.	PROPN
ajase-5514	354	8	,	,	PUNCT
ajase-5514	354	9	&	&	CCONJ
ajase-5514	354	10	sriboonchitta	sriboonchitta	PROPN
ajase-5514	354	11	,	,	PUNCT
ajase-5514	354	12	s.	s.	PROPN
ajase-5514	354	13	(	(	PUNCT
ajase-5514	354	14	2020	2020	NUM
ajase-5514	354	15	)	)	PUNCT
ajase-5514	354	16	.	.	PUNCT
ajase-5514	355	1	exchange	exchange	NOUN
ajase-5514	355	2	rate	rate	NOUN
ajase-5514	355	3	volatility	volatility	NOUN
ajase-5514	355	4	forecasting	forecasting	NOUN
ajase-5514	355	5	by	by	ADP
ajase-5514	355	6	hybrid	hybrid	ADJ
ajase-5514	355	7	neural	neural	ADJ
ajase-5514	355	8	network	network	NOUN
ajase-5514	355	9	markov	markov	NOUN
ajase-5514	355	10	switching	switch	VERB
ajase-5514	355	11	beta	beta	NOUN
ajase-5514	355	12	-	-	PUNCT
ajase-5514	355	13	t	t	NOUN
ajase-5514	355	14	-	-	PUNCT
ajase-5514	355	15	egarch	egarch	NOUN
ajase-5514	355	16	.	.	PUNCT
ajase-5514	356	1	ieee	ieee	NOUN
ajase-5514	356	2	access	access	NOUN
ajase-5514	356	3	,	,	PUNCT
ajase-5514	356	4	8	8	NUM
ajase-5514	356	5	,	,	PUNCT
ajase-5514	356	6	207563	207563	NUM
ajase-5514	356	7	-	-	SYM
ajase-5514	356	8	207574	207574	NUM
ajase-5514	356	9	.	.	PUNCT
ajase-5514	357	1	maheu	maheu	PROPN
ajase-5514	357	2	,	,	PUNCT
ajase-5514	357	3	j.	j.	PROPN
ajase-5514	357	4	m.	m.	PROPN
ajase-5514	357	5	,	,	PUNCT
ajase-5514	357	6	&	&	CCONJ
ajase-5514	357	7	mccurdy	mccurdy	NOUN
ajase-5514	357	8	,	,	PUNCT
ajase-5514	357	9	t.	t.	PROPN
ajase-5514	357	10	h.	h.	PROPN
ajase-5514	357	11	(	(	PUNCT
ajase-5514	357	12	2002	2002	NUM
ajase-5514	357	13	)	)	PUNCT
ajase-5514	357	14	.	.	PUNCT
ajase-5514	358	1	nonlinear	nonlinear	ADJ
ajase-5514	358	2	features	feature	NOUN
ajase-5514	358	3	of	of	ADP
ajase-5514	358	4	realized	realize	VERB
ajase-5514	358	5	fx	fx	NOUN
ajase-5514	358	6	returns	return	NOUN
ajase-5514	358	7	.	.	PUNCT
ajase-5514	359	1	rev	rev	PROPN
ajase-5514	359	2	.	.	PROPN
ajase-5514	359	3	econ	econ	PROPN
ajase-5514	359	4	.	.	PUNCT
ajase-5514	359	5	statist	statist	PROPN
ajase-5514	359	6	.	.	PUNCT
ajase-5514	359	7	,	,	PUNCT
ajase-5514	359	8	84(4	84(4	NUM
ajase-5514	359	9	)	)	PUNCT
ajase-5514	359	10	,	,	PUNCT
ajase-5514	359	11	668681	668681	NUM
ajase-5514	359	12	.	.	PUNCT
ajase-5514	360	1	mari	mari	PROPN
ajase-5514	360	2	,	,	PUNCT
ajase-5514	360	3	c.	c.	PROPN
ajase-5514	360	4	,	,	PUNCT
ajase-5514	360	5	&	&	CCONJ
ajase-5514	360	6	mari	mari	PROPN
ajase-5514	360	7	,	,	PUNCT
ajase-5514	360	8	e.	e.	PROPN
ajase-5514	360	9	(	(	PUNCT
ajase-5514	360	10	2023	2023	NUM
ajase-5514	360	11	)	)	PUNCT
ajase-5514	360	12	.	.	PUNCT
ajase-5514	361	1	deep	deep	ADJ
ajase-5514	361	2	learning	learning	NOUN
ajase-5514	361	3	based	base	VERB
ajase-5514	361	4	regimeswitching	regimeswitching	NOUN
ajase-5514	361	5	models	model	NOUN
ajase-5514	361	6	of	of	ADP
ajase-5514	361	7	energy	energy	NOUN
ajase-5514	361	8	commodity	commodity	NOUN
ajase-5514	361	9	prices	price	NOUN
ajase-5514	361	10	.	.	PUNCT
ajase-5514	362	1	energy	energy	NOUN
ajase-5514	362	2	systems	system	NOUN
ajase-5514	362	3	,	,	PUNCT
ajase-5514	362	4	14(4	14(4	NUM
ajase-5514	362	5	)	)	PUNCT
ajase-5514	362	6	,	,	PUNCT
ajase-5514	362	7	913	913	NUM
ajase-5514	362	8	-	-	SYM
ajase-5514	362	9	934	934	NUM
ajase-5514	362	10	.	.	PUNCT
ajase-5514	363	1	nassar	nassar	PROPN
ajase-5514	363	2	,	,	PUNCT
ajase-5514	363	3	j.	j.	PROPN
ajase-5514	363	4	,	,	PUNCT
ajase-5514	363	5	linderman	linderman	PROPN
ajase-5514	363	6	,	,	PUNCT
ajase-5514	363	7	s.	s.	PROPN
ajase-5514	363	8	w.	w.	PROPN
ajase-5514	363	9	,	,	PUNCT
ajase-5514	363	10	bugallo	bugallo	PROPN
ajase-5514	363	11	,	,	PUNCT
ajase-5514	363	12	m.	m.	NOUN
ajase-5514	363	13	,	,	PUNCT
ajase-5514	363	14	&	&	CCONJ
ajase-5514	363	15	park	park	PROPN
ajase-5514	363	16	,	,	PUNCT
ajase-5514	363	17	i.	i.	PROPN
ajase-5514	363	18	m.	m.	PROPN
ajase-5514	363	19	(	(	PUNCT
ajase-5514	363	20	2018	2018	NUM
ajase-5514	363	21	)	)	PUNCT
ajase-5514	363	22	.	.	PUNCT
ajase-5514	364	1	tree	tree	NOUN
ajase-5514	364	2	-	-	PUNCT
ajase-5514	364	3	structured	structure	VERB
ajase-5514	364	4	recurrent	recurrent	NOUN
ajase-5514	364	5	switching	switch	VERB
ajase-5514	364	6	linear	linear	ADJ
ajase-5514	364	7	dynamical	dynamical	ADJ
ajase-5514	364	8	systems	system	NOUN
ajase-5514	364	9	for	for	ADP
ajase-5514	364	10	multi	multi	ADJ
ajase-5514	364	11	-	-	ADJ
ajase-5514	364	12	scale	scale	ADJ
ajase-5514	364	13	modeling	modeling	NOUN
ajase-5514	364	14	.	.	PUNCT
ajase-5514	365	1	arxiv	arxiv	PROPN
ajase-5514	365	2	.	.	PUNCT
ajase-5514	366	1	nelson	nelson	PROPN
ajase-5514	366	2	,	,	PUNCT
ajase-5514	366	3	d.	d.	PROPN
ajase-5514	366	4	b.	b.	PROPN
ajase-5514	366	5	(	(	PUNCT
ajase-5514	366	6	1992	1992	NUM
ajase-5514	366	7	)	)	PUNCT
ajase-5514	366	8	.	.	PUNCT
ajase-5514	367	1	filtering	filtering	NOUN
ajase-5514	367	2	and	and	CCONJ
ajase-5514	367	3	forecasting	forecasting	NOUN
ajase-5514	367	4	with	with	ADP
ajase-5514	367	5	misspecified	misspecifie	VERB
ajase-5514	367	6	arch	arch	NOUN
ajase-5514	367	7	models	model	NOUN
ajase-5514	367	8	i.	i.	PROPN
ajase-5514	367	9	journal	journal	PROPN
ajase-5514	367	10	of	of	ADP
ajase-5514	367	11	econometrics	econometrics	PROPN
ajase-5514	367	12	,	,	PUNCT
ajase-5514	367	13	52(1–2	52(1–2	PROPN
ajase-5514	367	14	)	)	PUNCT
ajase-5514	367	15	,	,	PUNCT
ajase-5514	367	16	61–90	61–90	NOUN
ajase-5514	367	17	.	.	PUNCT
ajase-5514	368	1	nelson	nelson	PROPN
ajase-5514	368	2	,	,	PUNCT
ajase-5514	368	3	d.	d.	PROPN
ajase-5514	368	4	m.	m.	PROPN
ajase-5514	368	5	q.	q.	PROPN
ajase-5514	368	6	,	,	PUNCT
ajase-5514	368	7	pereira	pereira	PROPN
ajase-5514	368	8	,	,	PUNCT
ajase-5514	368	9	a.	a.	PROPN
ajase-5514	368	10	c.	c.	PROPN
ajase-5514	368	11	m.	m.	PROPN
ajase-5514	368	12	,	,	PUNCT
ajase-5514	368	13	&	&	CCONJ
ajase-5514	368	14	de	de	PROPN
ajase-5514	368	15	oliveira	oliveira	PROPN
ajase-5514	368	16	,	,	PUNCT
ajase-5514	368	17	r.	r.	PROPN
ajase-5514	368	18	a.	a.	PROPN
ajase-5514	368	19	(	(	PUNCT
ajase-5514	368	20	2017	2017	NUM
ajase-5514	368	21	)	)	PUNCT
ajase-5514	368	22	.	.	PUNCT
ajase-5514	369	1	stock	stock	NOUN
ajase-5514	369	2	market	market	NOUN
ajase-5514	369	3	’s	’s	PART
ajase-5514	369	4	price	price	NOUN
ajase-5514	369	5	movement	movement	NOUN
ajase-5514	369	6	prediction	prediction	NOUN
ajase-5514	369	7	with	with	ADP
ajase-5514	369	8	lstm	lstm	PROPN
ajase-5514	369	9	neural	neural	ADJ
ajase-5514	369	10	networks	network	NOUN
ajase-5514	369	11	.	.	PUNCT
ajase-5514	370	1	international	international	ADJ
ajase-5514	370	2	joint	joint	ADJ
ajase-5514	370	3	conference	conference	NOUN
ajase-5514	370	4	on	on	ADP
ajase-5514	370	5	neural	neural	ADJ
ajase-5514	370	6	networks	network	NOUN
ajase-5514	370	7	(	(	PUNCT
ajase-5514	370	8	ijcnn	ijcnn	VERB
ajase-5514	370	9	.	.	PUNCT
ajase-5514	371	1	https://doi	https://doi	PROPN
ajase-5514	371	2	.	.	PUNCT
ajase-5514	371	3	org/10.1109	org/10.1109	PROPN
ajase-5514	371	4	/	/	SYM
ajase-5514	371	5	ijcnn.2017.7966019	ijcnn.2017.7966019	NUM
ajase-5514	371	6	nguyen	nguyen	NOUN
ajase-5514	371	7	,	,	PUNCT
ajase-5514	371	8	l.	l.	PROPN
ajase-5514	371	9	h.	h.	PROPN
ajase-5514	371	10	,	,	PUNCT
ajase-5514	371	11	chao	chao	PROPN
ajase-5514	371	12	,	,	PUNCT
ajase-5514	371	13	d.	d.	PROPN
ajase-5514	371	14	,	,	PUNCT
ajase-5514	371	15	lim	lim	PROPN
ajase-5514	371	16	,	,	PUNCT
ajase-5514	371	17	j.	j.	PROPN
ajase-5514	371	18	k.	k.	PROPN
ajase-5514	371	19	,	,	PUNCT
ajase-5514	371	20	ayoub	ayoub	PROPN
ajase-5514	371	21	,	,	PUNCT
ajase-5514	371	22	w.	w.	PROPN
ajase-5514	371	23	,	,	PUNCT
ajase-5514	371	24	&	&	CCONJ
ajase-5514	371	25	nguyen	nguyen	PROPN
ajase-5514	371	26	,	,	PUNCT
ajase-5514	371	27	m.	m.	NOUN
ajase-5514	371	28	h.	h.	PROPN
ajase-5514	371	29	(	(	PUNCT
ajase-5514	371	30	2014	2014	NUM
ajase-5514	371	31	)	)	PUNCT
ajase-5514	371	32	.	.	PUNCT
ajase-5514	372	1	histologic	histologic	ADJ
ajase-5514	372	2	changes	change	NOUN
ajase-5514	372	3	in	in	ADP
ajase-5514	372	4	liver	liver	NOUN
ajase-5514	372	5	tissue	tissue	NOUN
ajase-5514	372	6	from	from	ADP
ajase-5514	372	7	patients	patient	NOUN
ajase-5514	372	8	with	with	ADP
ajase-5514	372	9	chronic	chronic	ADJ
ajase-5514	372	10	hepatitis	hepatitis	PROPN
ajase-5514	372	11	b	b	PROPN
ajase-5514	372	12	and	and	CCONJ
ajase-5514	372	13	minimal	minimal	ADJ
ajase-5514	372	14	increases	increase	NOUN
ajase-5514	372	15	in	in	ADP
ajase-5514	372	16	levels	level	NOUN
ajase-5514	372	17	of	of	ADP
ajase-5514	372	18	alanine	alanine	NOUN
ajase-5514	372	19	aminotransferase	aminotransferase	NOUN
ajase-5514	372	20	:	:	PUNCT
ajase-5514	372	21	a	a	DET
ajase-5514	372	22	meta	meta	ADJ
ajase-5514	372	23	-	-	PUNCT
ajase-5514	372	24	analysis	analysis	NOUN
ajase-5514	372	25	and	and	CCONJ
ajase-5514	372	26	systematic	systematic	ADJ
ajase-5514	372	27	review	review	NOUN
ajase-5514	372	28	.	.	PUNCT
ajase-5514	373	1	clinical	clinical	ADJ
ajase-5514	373	2	gastroenterology	gastroenterology	NOUN
ajase-5514	373	3	and	and	CCONJ
ajase-5514	373	4	hepatology	hepatology	NOUN
ajase-5514	373	5	,	,	PUNCT
ajase-5514	373	6	12(8	12(8	NUM
ajase-5514	373	7	)	)	PUNCT
ajase-5514	373	8	,	,	PUNCT
ajase-5514	373	9	1262	1262	NUM
ajase-5514	373	10	-	-	SYM
ajase-5514	373	11	1266	1266	NUM
ajase-5514	373	12	.	.	PUNCT
ajase-5514	374	1	owyang	owyang	PROPN
ajase-5514	374	2	,	,	PUNCT
ajase-5514	374	3	m.	m.	NOUN
ajase-5514	374	4	t.	t.	PROPN
ajase-5514	374	5	,	,	PUNCT
ajase-5514	374	6	&	&	CCONJ
ajase-5514	374	7	ramey	ramey	PROPN
ajase-5514	374	8	,	,	PUNCT
ajase-5514	374	9	g.	g.	PROPN
ajase-5514	374	10	(	(	PUNCT
ajase-5514	374	11	2004	2004	NUM
ajase-5514	374	12	)	)	PUNCT
ajase-5514	374	13	.	.	PUNCT
ajase-5514	375	1	regime	regime	NOUN
ajase-5514	375	2	switching	switching	NOUN
ajase-5514	375	3	and	and	CCONJ
ajase-5514	375	4	monetary	monetary	ADJ
ajase-5514	375	5	policy	policy	NOUN
ajase-5514	375	6	measurement	measurement	NOUN
ajase-5514	375	7	.	.	PUNCT
ajase-5514	376	1	journal	journal	PROPN
ajase-5514	376	2	of	of	ADP
ajase-5514	376	3	monetary	monetary	ADJ
ajase-5514	376	4	economics	economic	NOUN
ajase-5514	376	5	,	,	PUNCT
ajase-5514	376	6	51(8	51(8	NUM
ajase-5514	376	7	)	)	PUNCT
ajase-5514	376	8	,	,	PUNCT
ajase-5514	376	9	1577	1577	NUM
ajase-5514	376	10	-	-	SYM
ajase-5514	376	11	1597	1597	NUM
ajase-5514	376	12	.	.	PUNCT
ajase-5514	377	1	roy	roy	PROPN
ajase-5514	377	2	,	,	PUNCT
ajase-5514	377	3	g.	g.	PROPN
ajase-5514	377	4	,	,	PUNCT
ajase-5514	377	5	&	&	CCONJ
ajase-5514	377	6	sarkar	sarkar	PROPN
ajase-5514	377	7	,	,	PUNCT
ajase-5514	377	8	p.	p.	NOUN
ajase-5514	377	9	(	(	PUNCT
ajase-5514	377	10	2024	2024	NUM
ajase-5514	377	11	)	)	PUNCT
ajase-5514	377	12	.	.	PUNCT
ajase-5514	378	1	a	a	DET
ajase-5514	378	2	systematic	systematic	ADJ
ajase-5514	378	3	review	review	NOUN
ajase-5514	378	4	on	on	ADP
ajase-5514	378	5	impact	impact	NOUN
ajase-5514	378	6	of	of	ADP
ajase-5514	378	7	political	political	ADJ
ajase-5514	378	8	crisis	crisis	NOUN
ajase-5514	378	9	and	and	CCONJ
ajase-5514	378	10	election	election	NOUN
ajase-5514	378	11	on	on	ADP
ajase-5514	378	12	capital	capital	NOUN
ajase-5514	378	13	market	market	NOUN
ajase-5514	378	14	returns	return	NOUN
ajase-5514	378	15	.	.	PUNCT
ajase-5514	379	1	available	available	ADJ
ajase-5514	379	2	at	at	ADP
ajase-5514	379	3	ssrn	ssrn	NOUN
ajase-5514	379	4	4939289	4939289	NUM
ajase-5514	379	5	.	.	PUNCT
ajase-5514	380	1	rydén	rydén	PROPN
ajase-5514	380	2	,	,	PUNCT
ajase-5514	380	3	t.	t.	PROPN
ajase-5514	380	4	(	(	PUNCT
ajase-5514	380	5	2008	2008	NUM
ajase-5514	380	6	)	)	PUNCT
ajase-5514	380	7	.	.	PUNCT
ajase-5514	381	1	em	em	PRON
ajase-5514	381	2	versus	versus	ADP
ajase-5514	381	3	markov	markov	PROPN
ajase-5514	381	4	chain	chain	NOUN
ajase-5514	381	5	monte	monte	PROPN
ajase-5514	381	6	carlo	carlo	PROPN
ajase-5514	381	7	for	for	ADP
ajase-5514	381	8	estimation	estimation	NOUN
ajase-5514	381	9	of	of	ADP
ajase-5514	381	10	hidden	hide	VERB
ajase-5514	381	11	markov	markov	NOUN
ajase-5514	381	12	models	model	NOUN
ajase-5514	381	13	:	:	PUNCT
ajase-5514	381	14	a	a	DET
ajase-5514	381	15	computational	computational	ADJ
ajase-5514	381	16	pa	pa	PROPN
ajase-5514	381	17	ge	ge	PROPN
ajase-5514	381	18	10	10	NUM
ajase-5514	381	19	7	7	NUM
ajase-5514	381	20	https://journals.e-palli.com/home/index.php/ajase	https://journals.e-palli.com/home/index.php/ajase	PROPN
ajase-5514	381	21	am	am	NOUN
ajase-5514	381	22	.	.	PUNCT
ajase-5514	382	1	j.	j.	PROPN
ajase-5514	382	2	appl	appl	PROPN
ajase-5514	382	3	.	.	PROPN
ajase-5514	383	1	stat	stat	PROPN
ajase-5514	383	2	.	.	PUNCT
ajase-5514	384	1	econ	econ	PROPN
ajase-5514	384	2	.	.	PUNCT
ajase-5514	385	1	4(1	4(1	X
ajase-5514	385	2	)	)	PUNCT
ajase-5514	385	3	94	94	NUM
ajase-5514	385	4	-	-	SYM
ajase-5514	385	5	107	107	NUM
ajase-5514	385	6	,	,	PUNCT
ajase-5514	385	7	2025	2025	NUM
ajase-5514	385	8	perspective	perspective	NOUN
ajase-5514	385	9	.	.	PUNCT
ajase-5514	386	1	shah	shah	PROPN
ajase-5514	386	2	,	,	PUNCT
ajase-5514	386	3	d.	d.	PROPN
ajase-5514	386	4	,	,	PUNCT
ajase-5514	386	5	campbell	campbell	PROPN
ajase-5514	386	6	,	,	PUNCT
ajase-5514	386	7	w.	w.	PROPN
ajase-5514	386	8	,	,	PUNCT
ajase-5514	386	9	&	&	CCONJ
ajase-5514	386	10	zulkernine	zulkernine	PROPN
ajase-5514	386	11	,	,	PUNCT
ajase-5514	386	12	f.	f.	PROPN
ajase-5514	386	13	h.	h.	PROPN
ajase-5514	386	14	(	(	PUNCT
ajase-5514	386	15	2018	2018	NUM
ajase-5514	386	16	)	)	PUNCT
ajase-5514	386	17	.	.	PUNCT
ajase-5514	387	1	a	a	DET
ajase-5514	387	2	comparative	comparative	ADJ
ajase-5514	387	3	study	study	NOUN
ajase-5514	387	4	of	of	ADP
ajase-5514	387	5	lstm	lstm	PROPN
ajase-5514	387	6	and	and	CCONJ
ajase-5514	387	7	dnn	dnn	PROPN
ajase-5514	387	8	for	for	ADP
ajase-5514	387	9	stock	stock	NOUN
ajase-5514	387	10	market	market	NOUN
ajase-5514	387	11	forecasting	forecasting	NOUN
ajase-5514	387	12	.	.	PUNCT
ajase-5514	388	1	in	in	ADP
ajase-5514	388	2	2018	2018	NUM
ajase-5514	388	3	ieee	ieee	NOUN
ajase-5514	388	4	international	international	ADJ
ajase-5514	388	5	conference	conference	NOUN
ajase-5514	388	6	on	on	ADP
ajase-5514	388	7	big	big	ADJ
ajase-5514	388	8	data	datum	NOUN
ajase-5514	388	9	(	(	PUNCT
ajase-5514	388	10	big	big	ADJ
ajase-5514	388	11	data	datum	NOUN
ajase-5514	388	12	)	)	PUNCT
ajase-5514	388	13	(	(	PUNCT
ajase-5514	388	14	pp	pp	ADP
ajase-5514	388	15	.	.	PUNCT
ajase-5514	388	16	4148–4155	4148–4155	NUM
ajase-5514	388	17	)	)	PUNCT
ajase-5514	388	18	.	.	PUNCT
ajase-5514	389	1	ieee	ieee	PROPN
ajase-5514	389	2	.	.	PUNCT
ajase-5514	390	1	https://doi.org/10.1109/bigdata.2018.8622462	https://doi.org/10.1109/bigdata.2018.8622462	PROPN
ajase-5514	390	2	sims	sim	NOUN
ajase-5514	390	3	,	,	PUNCT
ajase-5514	390	4	c.	c.	PROPN
ajase-5514	390	5	a.	a.	PROPN
ajase-5514	390	6	,	,	PUNCT
ajase-5514	390	7	&	&	CCONJ
ajase-5514	390	8	zha	zha	PROPN
ajase-5514	390	9	,	,	PUNCT
ajase-5514	390	10	t.	t.	PROPN
ajase-5514	390	11	(	(	PUNCT
ajase-5514	390	12	2006	2006	NUM
ajase-5514	390	13	)	)	PUNCT
ajase-5514	390	14	.	.	PUNCT
ajase-5514	390	15	were	be	AUX
ajase-5514	390	16	there	there	PRON
ajase-5514	390	17	regime	regime	NOUN
ajase-5514	390	18	switches	switch	NOUN
ajase-5514	390	19	in	in	ADP
ajase-5514	390	20	us	us	PROPN
ajase-5514	390	21	monetary	monetary	ADJ
ajase-5514	390	22	policy	policy	NOUN
ajase-5514	390	23	?	?	PUNCT
ajase-5514	390	24	.	.	PUNCT
ajase-5514	391	1	american	american	PROPN
ajase-5514	391	2	economic	economic	PROPN
ajase-5514	391	3	review	review	PROPN
ajase-5514	391	4	,	,	PUNCT
ajase-5514	391	5	96(1	96(1	PROPN
ajase-5514	391	6	)	)	PUNCT
ajase-5514	391	7	,	,	PUNCT
ajase-5514	391	8	54	54	NUM
ajase-5514	391	9	-	-	SYM
ajase-5514	391	10	81	81	NUM
ajase-5514	391	11	.	.	PUNCT
ajase-5514	392	1	sunny	sunny	ADJ
ajase-5514	392	2	,	,	PUNCT
ajase-5514	392	3	m.	m.	NOUN
ajase-5514	392	4	a.	a.	PROPN
ajase-5514	392	5	i.	i.	PROPN
ajase-5514	392	6	,	,	PUNCT
ajase-5514	392	7	maswood	maswood	NOUN
ajase-5514	392	8	,	,	PUNCT
ajase-5514	392	9	m.	m.	NOUN
ajase-5514	392	10	m.	m.	PROPN
ajase-5514	392	11	s.	s.	PROPN
ajase-5514	392	12	,	,	PUNCT
ajase-5514	392	13	&	&	CCONJ
ajase-5514	392	14	alharbi	alharbi	PROPN
ajase-5514	392	15	,	,	PUNCT
ajase-5514	392	16	a.	a.	NOUN
ajase-5514	392	17	g.	g.	PROPN
ajase-5514	392	18	(	(	PUNCT
ajase-5514	392	19	2020	2020	NUM
ajase-5514	392	20	)	)	PUNCT
ajase-5514	392	21	.	.	PUNCT
ajase-5514	393	1	deep	deep	ADJ
ajase-5514	393	2	learning	learning	NOUN
ajase-5514	393	3	-	-	PUNCT
ajase-5514	393	4	based	base	VERB
ajase-5514	393	5	stock	stock	NOUN
ajase-5514	393	6	price	price	NOUN
ajase-5514	393	7	prediction	prediction	NOUN
ajase-5514	393	8	using	use	VERB
ajase-5514	393	9	lstm	lstm	NOUN
ajase-5514	393	10	and	and	CCONJ
ajase-5514	393	11	bi	bi	ADJ
ajase-5514	393	12	-	-	ADJ
ajase-5514	393	13	directional	directional	ADJ
ajase-5514	393	14	lstm	lstm	PROPN
ajase-5514	393	15	model	model	NOUN
ajase-5514	393	16	.	.	PUNCT
ajase-5514	394	1	2020	2020	NUM
ajase-5514	394	2	2nd	2nd	ADJ
ajase-5514	394	3	novel	novel	ADJ
ajase-5514	394	4	intelligent	intelligent	ADJ
ajase-5514	394	5	and	and	CCONJ
ajase-5514	394	6	leading	lead	VERB
ajase-5514	394	7	emerging	emerge	VERB
ajase-5514	394	8	sciences	science	NOUN
ajase-5514	394	9	conference	conference	NOUN
ajase-5514	394	10	(	(	PUNCT
ajase-5514	394	11	niles	nile	NOUN
ajase-5514	394	12	)	)	PUNCT
ajase-5514	394	13	,	,	PUNCT
ajase-5514	394	14	87–92	87–92	NUM
ajase-5514	394	15	.	.	PUNCT
ajase-5514	395	1	https://doi	https://doi	PROPN
ajase-5514	395	2	.org/10.1109/	.org/10.1109/	PROPN
ajase-5514	396	1	niles50944.2020.9257950	niles50944.2020.9257950	PROPN
ajase-5514	396	2	valente	valente	PROPN
ajase-5514	396	3	,	,	PUNCT
ajase-5514	396	4	g.	g.	PROPN
ajase-5514	396	5	(	(	PUNCT
ajase-5514	396	6	2003	2003	NUM
ajase-5514	396	7	)	)	PUNCT
ajase-5514	396	8	.	.	PUNCT
ajase-5514	397	1	monetary	monetary	ADJ
ajase-5514	397	2	policy	policy	NOUN
ajase-5514	397	3	rules	rule	NOUN
ajase-5514	397	4	and	and	CCONJ
ajase-5514	397	5	regime	regime	NOUN
ajase-5514	397	6	shifts	shift	NOUN
ajase-5514	397	7	.	.	PUNCT
ajase-5514	398	1	applied	apply	VERB
ajase-5514	398	2	financial	financial	ADJ
ajase-5514	398	3	economics	economic	NOUN
ajase-5514	398	4	,	,	PUNCT
ajase-5514	398	5	13(7	13(7	NUM
ajase-5514	398	6	)	)	PUNCT
ajase-5514	398	7	,	,	PUNCT
ajase-5514	398	8	525	525	NUM
ajase-5514	398	9	-	-	SYM
ajase-5514	398	10	535	535	NUM
ajase-5514	398	11	.	.	PUNCT
ajase-5514	399	1	xiuqin	xiuqin	PROPN
ajase-5514	399	2	,	,	PUNCT
ajase-5514	399	3	x.	x.	NOUN
ajase-5514	399	4	,	,	PUNCT
ajase-5514	399	5	hanqiu	hanqiu	PROPN
ajase-5514	399	6	,	,	PUNCT
ajase-5514	399	7	p.	p.	NOUN
ajase-5514	399	8	,	,	PUNCT
ajase-5514	399	9	&	&	CCONJ
ajase-5514	399	10	ying	ying	PROPN
ajase-5514	399	11	,	,	PUNCT
ajase-5514	399	12	c.	c.	PROPN
ajase-5514	399	13	(	(	PUNCT
ajase-5514	399	14	2023	2023	NUM
ajase-5514	399	15	)	)	PUNCT
ajase-5514	399	16	.	.	PUNCT
ajase-5514	400	1	deep	deep	ADJ
ajase-5514	400	2	switching	switch	VERB
ajase-5514	400	3	state	state	NOUN
ajase-5514	400	4	space	space	NOUN
ajase-5514	400	5	model	model	NOUN
ajase-5514	400	6	(	(	PUNCT
ajase-5514	400	7	dsssm	dsssm	PROPN
ajase-5514	400	8	)	)	PUNCT
ajase-5514	400	9	for	for	ADP
ajase-5514	400	10	nonlinear	nonlinear	ADJ
ajase-5514	400	11	time	time	NOUN
ajase-5514	400	12	series	series	PROPN
ajase-5514	400	13	forecasting	forecasting	NOUN
ajase-5514	400	14	with	with	ADP
ajase-5514	400	15	regime	regime	NOUN
ajase-5514	400	16	switching	switching	NOUN
ajase-5514	400	17	.	.	PUNCT
ajase-5514	401	1	arxiv	arxiv	PROPN
ajase-5514	401	2	preprint	preprint	VERB
ajase-5514	401	3	arxiv:2106.02329	arxiv:2106.02329	PROPN
ajase-5514	401	4	.	.	PUNCT
ajase-5514	402	1	https://arxiv.org/abs/2106.02329	https://arxiv.org/abs/2106.02329	PROPN
ajase-5514	402	2	yao	yao	PROPN
ajase-5514	402	3	,	,	PUNCT
ajase-5514	402	4	s.	s.	PROPN
ajase-5514	402	5	,	,	PUNCT
ajase-5514	402	6	luo	luo	PROPN
ajase-5514	402	7	,	,	PUNCT
ajase-5514	402	8	l.	l.	PROPN
ajase-5514	402	9	,	,	PUNCT
ajase-5514	402	10	&	&	CCONJ
ajase-5514	402	11	peng	peng	PROPN
ajase-5514	402	12	,	,	PUNCT
ajase-5514	402	13	h.	h.	PROPN
ajase-5514	402	14	(	(	PUNCT
ajase-5514	402	15	2018	2018	NUM
ajase-5514	402	16	)	)	PUNCT
ajase-5514	402	17	.	.	PUNCT
ajase-5514	403	1	high	high	ADJ
ajase-5514	403	2	-	-	PUNCT
ajase-5514	403	3	frequency	frequency	NOUN
ajase-5514	403	4	stock	stock	NOUN
ajase-5514	403	5	trend	trend	NOUN
ajase-5514	403	6	forecast	forecast	NOUN
ajase-5514	403	7	using	use	VERB
ajase-5514	403	8	lstm	lstm	ADJ
ajase-5514	403	9	model	model	NOUN
ajase-5514	403	10	.	.	PUNCT
ajase-5514	404	1	13th	13th	ADJ
ajase-5514	404	2	international	international	ADJ
ajase-5514	404	3	conference	conference	NOUN
ajase-5514	404	4	on	on	ADP
ajase-5514	404	5	computer	computer	NOUN
ajase-5514	404	6	science	science	PROPN
ajase-5514	404	7	&	&	CCONJ
ajase-5514	404	8	education	education	PROPN
ajase-5514	404	9	(	(	PUNCT
ajase-5514	404	10	iccse	iccse	NOUN
ajase-5514	404	11	)	)	PUNCT
ajase-5514	404	12	,	,	PUNCT
ajase-5514	404	13	1–4	1–4	PROPN
ajase-5514	404	14	.	.	PUNCT
ajase-5514	405	1	https://doi.org/10.1109/iccse.2018.8468703	https://doi.org/10.1109/iccse.2018.8468703	PROPN
ajase-5514	405	2	zucchini	zucchini	NOUN
ajase-5514	405	3	,	,	PUNCT
ajase-5514	405	4	w.	w.	PROPN
ajase-5514	405	5	,	,	PUNCT
ajase-5514	405	6	&	&	CCONJ
ajase-5514	405	7	macdonald	macdonald	PROPN
ajase-5514	405	8	,	,	PUNCT
ajase-5514	405	9	i.	i.	PROPN
ajase-5514	405	10	l.	l.	PROPN
ajase-5514	405	11	(	(	PUNCT
ajase-5514	405	12	2009	2009	NUM
ajase-5514	405	13	)	)	PUNCT
ajase-5514	405	14	.	.	PUNCT
ajase-5514	406	1	hidden	hide	VERB
ajase-5514	406	2	markov	markov	NOUN
ajase-5514	406	3	models	model	NOUN
ajase-5514	406	4	for	for	ADP
ajase-5514	406	5	time	time	NOUN
ajase-5514	406	6	series	series	PROPN
ajase-5514	406	7	:	:	PUNCT
ajase-5514	406	8	an	an	DET
ajase-5514	406	9	introduction	introduction	NOUN
ajase-5514	406	10	using	use	VERB
ajase-5514	406	11	r.	r.	PROPN
ajase-5514	406	12	chapman	chapman	PROPN
ajase-5514	406	13	and	and	CCONJ
ajase-5514	406	14	hall	hall	PROPN
ajase-5514	406	15	/	/	SYM
ajase-5514	406	16	crc	crc	PROPN
ajase-5514	406	17	.	.	PUNCT