id	sid	tid	token	lemma	pos
ajfa-989	1	1	microsoft	microsoft	PROPN
ajfa-989	1	2	word	word	NOUN
ajfa-989	1	3	989	989	NUM
ajfa-989	1	4	-	-	SYM
ajfa-989	1	5	4059	4059	NUM
ajfa-989	1	6	-	-	PUNCT
ajfa-989	1	7	1	1	NUM
ajfa-989	1	8	-	-	PUNCT
ajfa-989	1	9	rv[1]-new	rv[1]-new	NOUN
ajfa-989	1	10	asian	asian	ADJ
ajfa-989	1	11	journal	journal	NOUN
ajfa-989	1	12	of	of	ADP
ajfa-989	1	13	finance	finance	PROPN
ajfa-989	1	14	&	&	CCONJ
ajfa-989	1	15	accounting	accounting	PROPN
ajfa-989	1	16	issn	issn	PROPN
ajfa-989	1	17	1946	1946	NUM
ajfa-989	1	18	-	-	PUNCT
ajfa-989	1	19	052x	052x	NOUN
ajfa-989	1	20	2011	2011	NUM
ajfa-989	1	21	,	,	PUNCT
ajfa-989	1	22	vol	vol	NOUN
ajfa-989	1	23	.	.	PROPN
ajfa-989	2	1	3	3	NUM
ajfa-989	2	2	,	,	PUNCT
ajfa-989	2	3	no	no	INTJ
ajfa-989	2	4	.	.	NOUN
ajfa-989	2	5	1	1	NUM
ajfa-989	2	6	:	:	PUNCT
ajfa-989	2	7	e5	e5	PROPN
ajfa-989	2	8	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-989	2	9	72	72	NUM
ajfa-989	2	10	time	time	NOUN
ajfa-989	2	11	varying	vary	VERB
ajfa-989	2	12	correlations	correlation	NOUN
ajfa-989	2	13	between	between	ADP
ajfa-989	2	14	stock	stock	NOUN
ajfa-989	2	15	and	and	CCONJ
ajfa-989	2	16	bond	bond	NOUN
ajfa-989	2	17	returns	return	NOUN
ajfa-989	2	18	:	:	PUNCT
ajfa-989	2	19	empirical	empirical	ADJ
ajfa-989	2	20	evidence	evidence	NOUN
ajfa-989	2	21	from	from	ADP
ajfa-989	2	22	russia	russia	PROPN
ajfa-989	2	23	kashif	kashif	PROPN
ajfa-989	2	24	saleem	saleem	PROPN
ajfa-989	2	25	lappeenranta	lappeenranta	PROPN
ajfa-989	2	26	school	school	NOUN
ajfa-989	2	27	of	of	ADP
ajfa-989	2	28	business	business	NOUN
ajfa-989	2	29	,	,	PUNCT
ajfa-989	2	30	lappeenranta	lappeenranta	ADJ
ajfa-989	2	31	univeristy	univeristy	NOUN
ajfa-989	2	32	of	of	ADP
ajfa-989	2	33	technology	technology	NOUN
ajfa-989	2	34	,	,	PUNCT
ajfa-989	2	35	finland	finland	PROPN
ajfa-989	2	36	e-mail:kashif.saleem@lut.fi	e-mail:kashif.saleem@lut.fi	ADV
ajfa-989	2	37	received	receive	VERB
ajfa-989	2	38	:	:	PUNCT
ajfa-989	2	39	september	september	PROPN
ajfa-989	2	40	23	23	NUM
ajfa-989	2	41	,	,	PUNCT
ajfa-989	2	42	2011	2011	NUM
ajfa-989	2	43	accepted	accept	VERB
ajfa-989	2	44	:	:	PUNCT
ajfa-989	2	45	november	november	PROPN
ajfa-989	2	46	21	21	NUM
ajfa-989	2	47	,	,	PUNCT
ajfa-989	2	48	2011	2011	NUM
ajfa-989	2	49	published	publish	VERB
ajfa-989	2	50	:	:	PUNCT
ajfa-989	2	51	december	december	PROPN
ajfa-989	2	52	1	1	NUM
ajfa-989	2	53	,	,	PUNCT
ajfa-989	2	54	2011	2011	NUM
ajfa-989	2	55	doi:10.5296	doi:10.5296	NOUN
ajfa-989	2	56	/	/	SYM
ajfa-989	2	57	ajfa.v3i1.989	ajfa.v3i1.989	PROPN
ajfa-989	2	58	url	url	NOUN
ajfa-989	2	59	:	:	PUNCT
ajfa-989	2	60	http://dx.doi.org/10.5296/ajfa.v3i1.989	http://dx.doi.org/10.5296/ajfa.v3i1.989	PROPN
ajfa-989	2	61	abstract	abstract	VERB
ajfa-989	2	62	the	the	DET
ajfa-989	2	63	purpose	purpose	NOUN
ajfa-989	2	64	of	of	ADP
ajfa-989	2	65	this	this	DET
ajfa-989	2	66	study	study	NOUN
ajfa-989	2	67	is	be	AUX
ajfa-989	2	68	to	to	PART
ajfa-989	2	69	look	look	VERB
ajfa-989	2	70	at	at	ADP
ajfa-989	2	71	the	the	DET
ajfa-989	2	72	relationship	relationship	NOUN
ajfa-989	2	73	between	between	ADP
ajfa-989	2	74	the	the	DET
ajfa-989	2	75	stock	stock	NOUN
ajfa-989	2	76	and	and	CCONJ
ajfa-989	2	77	the	the	DET
ajfa-989	2	78	bond	bond	NOUN
ajfa-989	2	79	market	market	NOUN
ajfa-989	2	80	of	of	ADP
ajfa-989	2	81	russia	russia	PROPN
ajfa-989	2	82	.	.	PUNCT
ajfa-989	3	1	by	by	ADP
ajfa-989	3	2	using	use	VERB
ajfa-989	3	3	multivariate	multivariate	NOUN
ajfa-989	3	4	conditional	conditional	ADJ
ajfa-989	3	5	volatility	volatility	NOUN
ajfa-989	3	6	models	model	NOUN
ajfa-989	3	7	,	,	PUNCT
ajfa-989	3	8	such	such	ADJ
ajfa-989	3	9	as	as	ADP
ajfa-989	3	10	,	,	PUNCT
ajfa-989	3	11	bollerslev	bollerslev	ADJ
ajfa-989	3	12	(	(	PUNCT
ajfa-989	3	13	1990	1990	NUM
ajfa-989	3	14	)	)	PUNCT
ajfa-989	3	15	ccc	ccc	PROPN
ajfa-989	3	16	model	model	NOUN
ajfa-989	3	17	,	,	PUNCT
ajfa-989	3	18	engle	engle	PROPN
ajfa-989	3	19	(	(	PUNCT
ajfa-989	3	20	2002	2002	NUM
ajfa-989	3	21	)	)	PUNCT
ajfa-989	3	22	the	the	DET
ajfa-989	3	23	dcc	dcc	PROPN
ajfa-989	3	24	model	model	NOUN
ajfa-989	3	25	,	,	PUNCT
ajfa-989	3	26	we	we	PRON
ajfa-989	3	27	first	first	ADV
ajfa-989	3	28	examine	examine	VERB
ajfa-989	3	29	whether	whether	SCONJ
ajfa-989	3	30	the	the	DET
ajfa-989	3	31	correlations	correlation	NOUN
ajfa-989	3	32	between	between	ADP
ajfa-989	3	33	two	two	NUM
ajfa-989	3	34	classes	class	NOUN
ajfa-989	3	35	of	of	ADP
ajfa-989	3	36	assets	asset	NOUN
ajfa-989	3	37	are	be	AUX
ajfa-989	3	38	constant	constant	ADJ
ajfa-989	3	39	or	or	CCONJ
ajfa-989	3	40	time	time	NOUN
ajfa-989	3	41	varying	vary	VERB
ajfa-989	3	42	.	.	PUNCT
ajfa-989	4	1	secondly	secondly	ADV
ajfa-989	4	2	,	,	PUNCT
ajfa-989	4	3	to	to	PART
ajfa-989	4	4	investigate	investigate	VERB
ajfa-989	4	5	the	the	DET
ajfa-989	4	6	asymmetries	asymmetry	NOUN
ajfa-989	4	7	in	in	ADP
ajfa-989	4	8	conditional	conditional	ADJ
ajfa-989	4	9	variances	variance	NOUN
ajfa-989	4	10	,	,	PUNCT
ajfa-989	4	11	covariances	covariance	NOUN
ajfa-989	4	12	,	,	PUNCT
ajfa-989	4	13	and	and	CCONJ
ajfa-989	4	14	correlations	correlation	NOUN
ajfa-989	4	15	,	,	PUNCT
ajfa-989	4	16	an	an	DET
ajfa-989	4	17	asymmetric	asymmetric	ADJ
ajfa-989	4	18	version	version	NOUN
ajfa-989	4	19	of	of	ADP
ajfa-989	4	20	the	the	DET
ajfa-989	4	21	dcc	dcc	PROPN
ajfa-989	4	22	model	model	NOUN
ajfa-989	4	23	proposed	propose	VERB
ajfa-989	4	24	by	by	ADP
ajfa-989	4	25	cappiello	cappiello	PROPN
ajfa-989	4	26	et	et	PROPN
ajfa-989	4	27	al	al	PROPN
ajfa-989	4	28	.	.	PROPN
ajfa-989	5	1	(	(	PUNCT
ajfa-989	5	2	2006	2006	NUM
ajfa-989	5	3	)	)	PUNCT
ajfa-989	5	4	is	be	AUX
ajfa-989	5	5	adopted	adopt	VERB
ajfa-989	5	6	.	.	PUNCT
ajfa-989	6	1	the	the	DET
ajfa-989	6	2	empirical	empirical	ADJ
ajfa-989	6	3	results	result	NOUN
ajfa-989	6	4	do	do	AUX
ajfa-989	6	5	not	not	PART
ajfa-989	6	6	support	support	VERB
ajfa-989	6	7	the	the	DET
ajfa-989	6	8	assumption	assumption	NOUN
ajfa-989	6	9	of	of	ADP
ajfa-989	6	10	constant	constant	ADJ
ajfa-989	6	11	conditional	conditional	ADJ
ajfa-989	6	12	correlation	correlation	NOUN
ajfa-989	6	13	and	and	CCONJ
ajfa-989	6	14	there	there	PRON
ajfa-989	6	15	was	be	VERB
ajfa-989	6	16	clear	clear	ADJ
ajfa-989	6	17	evidence	evidence	NOUN
ajfa-989	6	18	of	of	ADP
ajfa-989	6	19	time	time	NOUN
ajfa-989	6	20	varying	vary	VERB
ajfa-989	6	21	correlations	correlation	NOUN
ajfa-989	6	22	between	between	ADP
ajfa-989	6	23	the	the	DET
ajfa-989	6	24	russian	russian	ADJ
ajfa-989	6	25	stocks	stock	NOUN
ajfa-989	6	26	and	and	CCONJ
ajfa-989	6	27	bond	bond	NOUN
ajfa-989	6	28	market	market	NOUN
ajfa-989	6	29	.	.	PUNCT
ajfa-989	7	1	both	both	DET
ajfa-989	7	2	asset	asset	NOUN
ajfa-989	7	3	markets	market	NOUN
ajfa-989	7	4	exhibit	exhibit	VERB
ajfa-989	7	5	positive	positive	ADJ
ajfa-989	7	6	asymmetries	asymmetry	NOUN
ajfa-989	7	7	.	.	PUNCT
ajfa-989	8	1	keywords	keyword	NOUN
ajfa-989	8	2	:	:	PUNCT
ajfa-989	8	3	dcc	dcc	NOUN
ajfa-989	8	4	-	-	PUNCT
ajfa-989	8	5	garch	garch	NOUN
ajfa-989	8	6	,	,	PUNCT
ajfa-989	8	7	time	time	NOUN
ajfa-989	8	8	varying	vary	VERB
ajfa-989	8	9	correlations	correlation	NOUN
ajfa-989	8	10	,	,	PUNCT
ajfa-989	8	11	russia	russia	PROPN
ajfa-989	8	12	,	,	PUNCT
ajfa-989	8	13	asymmetric	asymmetric	ADJ
ajfa-989	8	14	,	,	PUNCT
ajfa-989	8	15	emerging	emerge	VERB
ajfa-989	8	16	market	market	NOUN
ajfa-989	8	17	jel	jel	PROPN
ajfa-989	8	18	classification	classification	NOUN
ajfa-989	8	19	:	:	PUNCT
ajfa-989	8	20	c32	c32	NOUN
ajfa-989	8	21	,	,	PUNCT
ajfa-989	8	22	g15	g15	PROPN
ajfa-989	8	23	asian	asian	PROPN
ajfa-989	8	24	journal	journal	PROPN
ajfa-989	8	25	of	of	ADP
ajfa-989	8	26	finance	finance	PROPN
ajfa-989	8	27	&	&	CCONJ
ajfa-989	8	28	accounting	accounting	PROPN
ajfa-989	8	29	issn	issn	PROPN
ajfa-989	8	30	1946	1946	NUM
ajfa-989	8	31	-	-	PUNCT
ajfa-989	8	32	052x	052x	NOUN
ajfa-989	8	33	2011	2011	NUM
ajfa-989	8	34	,	,	PUNCT
ajfa-989	8	35	vol	vol	NOUN
ajfa-989	8	36	.	.	PROPN
ajfa-989	9	1	3	3	NUM
ajfa-989	9	2	,	,	PUNCT
ajfa-989	9	3	no	no	INTJ
ajfa-989	9	4	.	.	NOUN
ajfa-989	9	5	1	1	NUM
ajfa-989	9	6	:	:	PUNCT
ajfa-989	9	7	e5	e5	PROPN
ajfa-989	9	8	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-989	9	9	73	73	NUM
ajfa-989	9	10	1	1	NUM
ajfa-989	9	11	.	.	PUNCT
ajfa-989	10	1	introduction	introduction	NOUN
ajfa-989	10	2	since	since	SCONJ
ajfa-989	10	3	the	the	DET
ajfa-989	10	4	seminal	seminal	ADJ
ajfa-989	10	5	work	work	NOUN
ajfa-989	10	6	by	by	ADP
ajfa-989	10	7	markowitz	markowitz	PROPN
ajfa-989	10	8	(	(	PUNCT
ajfa-989	10	9	1952	1952	NUM
ajfa-989	10	10	,	,	PUNCT
ajfa-989	10	11	1959	1959	NUM
ajfa-989	10	12	)	)	PUNCT
ajfa-989	10	13	clearly	clearly	ADV
ajfa-989	10	14	addresses	address	VERB
ajfa-989	10	15	the	the	DET
ajfa-989	10	16	importance	importance	NOUN
ajfa-989	10	17	of	of	ADP
ajfa-989	10	18	stock	stock	NOUN
ajfa-989	10	19	–	–	PUNCT
ajfa-989	10	20	bond	bond	NOUN
ajfa-989	10	21	correlation	correlation	NOUN
ajfa-989	10	22	in	in	ADP
ajfa-989	10	23	constructing	construct	VERB
ajfa-989	10	24	the	the	DET
ajfa-989	10	25	optimal	optimal	ADJ
ajfa-989	10	26	portfolio	portfolio	NOUN
ajfa-989	10	27	,	,	PUNCT
ajfa-989	10	28	examination	examination	NOUN
ajfa-989	10	29	of	of	ADP
ajfa-989	10	30	the	the	DET
ajfa-989	10	31	co	co	NOUN
ajfa-989	10	32	-	-	NOUN
ajfa-989	10	33	movements	movement	NOUN
ajfa-989	10	34	between	between	ADP
ajfa-989	10	35	the	the	DET
ajfa-989	10	36	stock	stock	NOUN
ajfa-989	10	37	and	and	CCONJ
ajfa-989	10	38	bond	bond	NOUN
ajfa-989	10	39	markets	market	NOUN
ajfa-989	10	40	has	have	AUX
ajfa-989	10	41	been	be	AUX
ajfa-989	10	42	one	one	NUM
ajfa-989	10	43	of	of	ADP
ajfa-989	10	44	the	the	DET
ajfa-989	10	45	most	most	ADV
ajfa-989	10	46	fundamental	fundamental	ADJ
ajfa-989	10	47	questions	question	NOUN
ajfa-989	10	48	to	to	ADP
ajfa-989	10	49	portfolio	portfolio	NOUN
ajfa-989	10	50	managers	manager	NOUN
ajfa-989	10	51	,	,	PUNCT
ajfa-989	10	52	risk	risk	NOUN
ajfa-989	10	53	analysts	analyst	NOUN
ajfa-989	10	54	and	and	CCONJ
ajfa-989	10	55	financial	financial	ADJ
ajfa-989	10	56	researchers	researcher	NOUN
ajfa-989	10	57	,	,	PUNCT
ajfa-989	10	58	among	among	ADP
ajfa-989	10	59	others	other	NOUN
ajfa-989	10	60	,	,	PUNCT
ajfa-989	10	61	in	in	ADP
ajfa-989	10	62	recent	recent	ADJ
ajfa-989	10	63	past	past	NOUN
ajfa-989	10	64	.	.	PUNCT
ajfa-989	11	1	however	however	ADV
ajfa-989	11	2	,	,	PUNCT
ajfa-989	11	3	the	the	DET
ajfa-989	11	4	question	question	NOUN
ajfa-989	11	5	is	be	AUX
ajfa-989	11	6	still	still	ADV
ajfa-989	11	7	open	open	ADJ
ajfa-989	11	8	and	and	CCONJ
ajfa-989	11	9	there	there	PRON
ajfa-989	11	10	is	be	VERB
ajfa-989	11	11	no	no	DET
ajfa-989	11	12	general	general	ADJ
ajfa-989	11	13	consensus	consensus	NOUN
ajfa-989	11	14	among	among	ADP
ajfa-989	11	15	financial	financial	ADJ
ajfa-989	11	16	researchers	researcher	NOUN
ajfa-989	11	17	on	on	ADP
ajfa-989	11	18	the	the	DET
ajfa-989	11	19	dynamics	dynamic	NOUN
ajfa-989	11	20	of	of	ADP
ajfa-989	11	21	the	the	DET
ajfa-989	11	22	stock	stock	NOUN
ajfa-989	11	23	–	–	PUNCT
ajfa-989	11	24	bond	bond	NOUN
ajfa-989	11	25	correlation	correlation	NOUN
ajfa-989	11	26	and	and	CCONJ
ajfa-989	11	27	how	how	SCONJ
ajfa-989	11	28	it	it	PRON
ajfa-989	11	29	might	might	AUX
ajfa-989	11	30	perform	perform	VERB
ajfa-989	11	31	in	in	ADP
ajfa-989	11	32	the	the	DET
ajfa-989	11	33	future	future	NOUN
ajfa-989	11	34	.	.	PUNCT
ajfa-989	12	1	for	for	ADP
ajfa-989	12	2	instance	instance	NOUN
ajfa-989	12	3	,	,	PUNCT
ajfa-989	12	4	keim	keim	NOUN
ajfa-989	12	5	and	and	CCONJ
ajfa-989	12	6	stambaugh	stambaugh	NOUN
ajfa-989	12	7	(	(	PUNCT
ajfa-989	12	8	1986	1986	NUM
ajfa-989	12	9	)	)	PUNCT
ajfa-989	12	10	,	,	PUNCT
ajfa-989	12	11	campbell	campbell	PROPN
ajfa-989	12	12	and	and	CCONJ
ajfa-989	12	13	ammer	ammer	PROPN
ajfa-989	12	14	(	(	PUNCT
ajfa-989	12	15	1993	1993	NUM
ajfa-989	12	16	)	)	PUNCT
ajfa-989	12	17	,	,	PUNCT
ajfa-989	12	18	and	and	CCONJ
ajfa-989	12	19	kwan	kwan	PROPN
ajfa-989	12	20	(	(	PUNCT
ajfa-989	12	21	1996	1996	NUM
ajfa-989	12	22	)	)	PUNCT
ajfa-989	12	23	empirically	empirically	ADV
ajfa-989	12	24	support	support	VERB
ajfa-989	12	25	the	the	DET
ajfa-989	12	26	theoretical	theoretical	ADJ
ajfa-989	12	27	argument	argument	NOUN
ajfa-989	12	28	of	of	ADP
ajfa-989	12	29	positive	positive	ADJ
ajfa-989	12	30	correlation	correlation	NOUN
ajfa-989	12	31	among	among	ADP
ajfa-989	12	32	stocks	stock	NOUN
ajfa-989	12	33	and	and	CCONJ
ajfa-989	12	34	bonds	bond	NOUN
ajfa-989	12	35	.	.	PUNCT
ajfa-989	13	1	on	on	ADP
ajfa-989	13	2	the	the	DET
ajfa-989	13	3	other	other	ADJ
ajfa-989	13	4	hand	hand	NOUN
ajfa-989	13	5	gulko	gulko	NOUN
ajfa-989	13	6	(	(	PUNCT
ajfa-989	13	7	2002	2002	NUM
ajfa-989	13	8	)	)	PUNCT
ajfa-989	13	9	,	,	PUNCT
ajfa-989	13	10	connolly	connolly	PROPN
ajfa-989	13	11	et	et	PROPN
ajfa-989	13	12	al	al	PROPN
ajfa-989	13	13	.	.	PROPN
ajfa-989	13	14	(	(	PUNCT
ajfa-989	13	15	2005	2005	NUM
ajfa-989	13	16	)	)	PUNCT
ajfa-989	13	17	and	and	CCONJ
ajfa-989	13	18	baur	baur	PROPN
ajfa-989	13	19	and	and	CCONJ
ajfa-989	13	20	lucey	lucey	PROPN
ajfa-989	13	21	(	(	PUNCT
ajfa-989	13	22	2009	2009	NUM
ajfa-989	13	23	)	)	PUNCT
ajfa-989	13	24	support	support	VERB
ajfa-989	13	25	the	the	DET
ajfa-989	13	26	phenomenon	phenomenon	NOUN
ajfa-989	13	27	of	of	ADP
ajfa-989	13	28	“	"	PUNCT
ajfa-989	13	29	flight	flight	NOUN
ajfa-989	13	30	to	to	ADP
ajfa-989	13	31	quality	quality	NOUN
ajfa-989	13	32	”	"	PUNCT
ajfa-989	13	33	and	and	CCONJ
ajfa-989	13	34	“	"	PUNCT
ajfa-989	13	35	flight	flight	NOUN
ajfa-989	13	36	from	from	ADP
ajfa-989	13	37	quality	quality	NOUN
ajfa-989	13	38	”	"	PUNCT
ajfa-989	13	39	which	which	PRON
ajfa-989	13	40	reflects	reflect	VERB
ajfa-989	13	41	a	a	DET
ajfa-989	13	42	negative	negative	ADJ
ajfa-989	13	43	correlation	correlation	NOUN
ajfa-989	13	44	between	between	ADP
ajfa-989	13	45	the	the	DET
ajfa-989	13	46	two	two	NUM
ajfa-989	13	47	assets	asset	NOUN
ajfa-989	13	48	,	,	PUNCT
ajfa-989	13	49	and	and	CCONJ
ajfa-989	13	50	additionally	additionally	ADV
ajfa-989	13	51	,	,	PUNCT
ajfa-989	13	52	alexander	alexander	PROPN
ajfa-989	13	53	et	et	PROPN
ajfa-989	13	54	al	al	PROPN
ajfa-989	13	55	.	.	PROPN
ajfa-989	14	1	(	(	PUNCT
ajfa-989	14	2	2000	2000	NUM
ajfa-989	14	3	)	)	PUNCT
ajfa-989	14	4	found	find	VERB
ajfa-989	14	5	mixed	mixed	ADJ
ajfa-989	14	6	sign	sign	NOUN
ajfa-989	14	7	correlations	correlation	NOUN
ajfa-989	14	8	.	.	PUNCT
ajfa-989	15	1	moreover	moreover	ADV
ajfa-989	15	2	,	,	PUNCT
ajfa-989	15	3	prior	prior	ADJ
ajfa-989	15	4	literature	literature	NOUN
ajfa-989	15	5	is	be	AUX
ajfa-989	15	6	divided	divide	VERB
ajfa-989	15	7	into	into	ADP
ajfa-989	15	8	two	two	NUM
ajfa-989	15	9	distinct	distinct	ADJ
ajfa-989	15	10	opinions	opinion	NOUN
ajfa-989	15	11	regarding	regard	VERB
ajfa-989	15	12	the	the	DET
ajfa-989	15	13	co	co	NOUN
ajfa-989	15	14	-	-	NOUN
ajfa-989	15	15	movement	movement	NOUN
ajfa-989	15	16	of	of	ADP
ajfa-989	15	17	two	two	NUM
ajfa-989	15	18	assets	asset	NOUN
ajfa-989	15	19	;	;	PUNCT
ajfa-989	15	20	for	for	ADP
ajfa-989	15	21	example	example	NOUN
ajfa-989	15	22	,	,	PUNCT
ajfa-989	15	23	shiller	shiller	PROPN
ajfa-989	15	24	and	and	CCONJ
ajfa-989	15	25	beltratti	beltratti	PROPN
ajfa-989	15	26	(	(	PUNCT
ajfa-989	15	27	1992	1992	NUM
ajfa-989	15	28	)	)	PUNCT
ajfa-989	15	29	and	and	CCONJ
ajfa-989	15	30	campbell	campbell	PROPN
ajfa-989	15	31	and	and	CCONJ
ajfa-989	15	32	ammer	ammer	PROPN
ajfa-989	15	33	(	(	PUNCT
ajfa-989	15	34	1993	1993	NUM
ajfa-989	15	35	)	)	PUNCT
ajfa-989	15	36	are	be	AUX
ajfa-989	15	37	among	among	ADP
ajfa-989	15	38	those	those	PRON
ajfa-989	15	39	who	who	PRON
ajfa-989	15	40	implicitly	implicitly	ADV
ajfa-989	15	41	assume	assume	VERB
ajfa-989	15	42	that	that	SCONJ
ajfa-989	15	43	stock	stock	NOUN
ajfa-989	15	44	–	–	PUNCT
ajfa-989	15	45	bond	bond	NOUN
ajfa-989	15	46	correlation	correlation	NOUN
ajfa-989	15	47	is	be	AUX
ajfa-989	15	48	time	time	NOUN
ajfa-989	15	49	invariant	invariant	ADJ
ajfa-989	15	50	.	.	PUNCT
ajfa-989	16	1	in	in	ADP
ajfa-989	16	2	contrast	contrast	NOUN
ajfa-989	16	3	,	,	PUNCT
ajfa-989	16	4	scruggs	scrugg	NOUN
ajfa-989	16	5	and	and	CCONJ
ajfa-989	16	6	glabadanidis	glabadanidis	PROPN
ajfa-989	16	7	(	(	PUNCT
ajfa-989	16	8	2003	2003	NUM
ajfa-989	16	9	)	)	PUNCT
ajfa-989	16	10	strongly	strongly	ADV
ajfa-989	16	11	reject	reject	VERB
ajfa-989	16	12	models	model	NOUN
ajfa-989	16	13	that	that	PRON
ajfa-989	16	14	impose	impose	VERB
ajfa-989	16	15	a	a	DET
ajfa-989	16	16	constant	constant	ADJ
ajfa-989	16	17	correlation	correlation	NOUN
ajfa-989	16	18	restriction	restriction	NOUN
ajfa-989	16	19	on	on	ADP
ajfa-989	16	20	the	the	DET
ajfa-989	16	21	covariance	covariance	NOUN
ajfa-989	16	22	matrix	matrix	NOUN
ajfa-989	16	23	between	between	ADP
ajfa-989	16	24	stock	stock	NOUN
ajfa-989	16	25	and	and	CCONJ
ajfa-989	16	26	bond	bond	NOUN
ajfa-989	16	27	returns	return	NOUN
ajfa-989	16	28	.	.	PUNCT
ajfa-989	17	1	furthermore	furthermore	ADV
ajfa-989	17	2	,	,	PUNCT
ajfa-989	17	3	siegel	siegel	PROPN
ajfa-989	17	4	(	(	PUNCT
ajfa-989	17	5	1998	1998	NUM
ajfa-989	17	6	)	)	PUNCT
ajfa-989	17	7	,	,	PUNCT
ajfa-989	17	8	gulko	gulko	X
ajfa-989	17	9	(	(	PUNCT
ajfa-989	17	10	2002	2002	NUM
ajfa-989	17	11	)	)	PUNCT
ajfa-989	17	12	,	,	PUNCT
ajfa-989	17	13	cappiello	cappiello	PROPN
ajfa-989	17	14	,	,	PUNCT
ajfa-989	17	15	engle	engle	PROPN
ajfa-989	17	16	and	and	CCONJ
ajfa-989	17	17	sheppard	sheppard	PROPN
ajfa-989	17	18	(	(	PUNCT
ajfa-989	17	19	2006	2006	NUM
ajfa-989	17	20	)	)	PUNCT
ajfa-989	17	21	,	,	PUNCT
ajfa-989	17	22	ilmanen	ilmanen	PROPN
ajfa-989	17	23	(	(	PUNCT
ajfa-989	17	24	2003	2003	NUM
ajfa-989	17	25	)	)	PUNCT
ajfa-989	17	26	,	,	PUNCT
ajfa-989	17	27	connolly	connolly	PROPN
ajfa-989	17	28	et	et	PROPN
ajfa-989	17	29	al	al	PROPN
ajfa-989	17	30	.	.	PUNCT
ajfa-989	17	31	(	(	PUNCT
ajfa-989	17	32	2005	2005	NUM
ajfa-989	17	33	)	)	PUNCT
ajfa-989	17	34	,	,	PUNCT
ajfa-989	17	35	jones	jones	PROPN
ajfa-989	17	36	and	and	CCONJ
ajfa-989	17	37	wilson	wilson	PROPN
ajfa-989	17	38	(	(	PUNCT
ajfa-989	17	39	2004	2004	NUM
ajfa-989	17	40	)	)	PUNCT
ajfa-989	17	41	and	and	CCONJ
ajfa-989	17	42	li	li	PROPN
ajfa-989	17	43	(	(	PUNCT
ajfa-989	17	44	2002	2002	NUM
ajfa-989	17	45	)	)	PUNCT
ajfa-989	17	46	are	be	AUX
ajfa-989	17	47	among	among	ADP
ajfa-989	17	48	those	those	PRON
ajfa-989	17	49	who	who	PRON
ajfa-989	17	50	have	have	AUX
ajfa-989	17	51	shown	show	VERB
ajfa-989	17	52	that	that	SCONJ
ajfa-989	17	53	the	the	DET
ajfa-989	17	54	correlation	correlation	NOUN
ajfa-989	17	55	between	between	ADP
ajfa-989	17	56	stock	stock	NOUN
ajfa-989	17	57	and	and	CCONJ
ajfa-989	17	58	bond	bond	NOUN
ajfa-989	17	59	returns	return	NOUN
ajfa-989	17	60	exhibits	exhibit	VERB
ajfa-989	17	61	considerable	considerable	ADJ
ajfa-989	17	62	time	time	NOUN
ajfa-989	17	63	variation	variation	NOUN
ajfa-989	17	64	,	,	PUNCT
ajfa-989	17	65	whereas	whereas	SCONJ
ajfa-989	17	66	barsky	barsky	NOUN
ajfa-989	17	67	(	(	PUNCT
ajfa-989	17	68	1989	1989	NUM
ajfa-989	17	69	)	)	PUNCT
ajfa-989	17	70	is	be	AUX
ajfa-989	17	71	of	of	ADP
ajfa-989	17	72	the	the	DET
ajfa-989	17	73	view	view	NOUN
ajfa-989	17	74	that	that	SCONJ
ajfa-989	17	75	stock	stock	NOUN
ajfa-989	17	76	and	and	CCONJ
ajfa-989	17	77	bond	bond	NOUN
ajfa-989	17	78	co	co	NOUN
ajfa-989	17	79	-	-	NOUN
ajfa-989	17	80	movements	movement	NOUN
ajfa-989	17	81	are	be	AUX
ajfa-989	17	82	state	state	NOUN
ajfa-989	17	83	dependent	dependent	ADJ
ajfa-989	17	84	.	.	PUNCT
ajfa-989	18	1	furthermore	furthermore	ADV
ajfa-989	18	2	,	,	PUNCT
ajfa-989	18	3	despite	despite	SCONJ
ajfa-989	18	4	its	its	PRON
ajfa-989	18	5	importance	importance	NOUN
ajfa-989	18	6	,	,	PUNCT
ajfa-989	18	7	this	this	DET
ajfa-989	18	8	phenomenon	phenomenon	NOUN
ajfa-989	18	9	has	have	AUX
ajfa-989	18	10	been	be	AUX
ajfa-989	18	11	severely	severely	ADV
ajfa-989	18	12	ignored	ignore	VERB
ajfa-989	18	13	in	in	ADP
ajfa-989	18	14	the	the	DET
ajfa-989	18	15	context	context	NOUN
ajfa-989	18	16	of	of	ADP
ajfa-989	18	17	emerging	emerge	VERB
ajfa-989	18	18	markets	market	NOUN
ajfa-989	18	19	,	,	PUNCT
ajfa-989	18	20	regardless	regardless	ADV
ajfa-989	18	21	of	of	ADP
ajfa-989	18	22	their	their	PRON
ajfa-989	18	23	high	high	ADJ
ajfa-989	18	24	returns	return	NOUN
ajfa-989	18	25	and	and	CCONJ
ajfa-989	18	26	favourable	favourable	ADJ
ajfa-989	18	27	diversification	diversification	NOUN
ajfa-989	18	28	opportunities	opportunity	NOUN
ajfa-989	18	29	.	.	PUNCT
ajfa-989	19	1	there	there	PRON
ajfa-989	19	2	is	be	VERB
ajfa-989	19	3	no	no	DET
ajfa-989	19	4	doubt	doubt	NOUN
ajfa-989	19	5	that	that	SCONJ
ajfa-989	19	6	futures	future	NOUN
ajfa-989	19	7	,	,	PUNCT
ajfa-989	19	8	options	option	NOUN
ajfa-989	19	9	and	and	CCONJ
ajfa-989	19	10	different	different	ADJ
ajfa-989	19	11	kinds	kind	NOUN
ajfa-989	19	12	of	of	ADP
ajfa-989	19	13	derivative	derivative	ADJ
ajfa-989	19	14	products	product	NOUN
ajfa-989	19	15	have	have	AUX
ajfa-989	19	16	acquired	acquire	VERB
ajfa-989	19	17	an	an	DET
ajfa-989	19	18	ever	ever	ADV
ajfa-989	19	19	increasing	increase	VERB
ajfa-989	19	20	importance	importance	NOUN
ajfa-989	19	21	in	in	ADP
ajfa-989	19	22	today	today	NOUN
ajfa-989	19	23	’s	’s	PART
ajfa-989	19	24	modern	modern	ADJ
ajfa-989	19	25	finance	finance	NOUN
ajfa-989	19	26	.	.	PUNCT
ajfa-989	20	1	however	however	ADV
ajfa-989	20	2	,	,	PUNCT
ajfa-989	20	3	stocks	stock	NOUN
ajfa-989	20	4	and	and	CCONJ
ajfa-989	20	5	bonds	bond	NOUN
ajfa-989	20	6	are	be	AUX
ajfa-989	20	7	still	still	ADV
ajfa-989	20	8	the	the	DET
ajfa-989	20	9	primary	primary	ADJ
ajfa-989	20	10	securities	security	NOUN
ajfa-989	20	11	traded	trade	VERB
ajfa-989	20	12	on	on	ADP
ajfa-989	20	13	stock	stock	NOUN
ajfa-989	20	14	exchanges	exchange	NOUN
ajfa-989	20	15	and	and	CCONJ
ajfa-989	20	16	the	the	DET
ajfa-989	20	17	major	major	ADJ
ajfa-989	20	18	component	component	NOUN
ajfa-989	20	19	of	of	ADP
ajfa-989	20	20	any	any	DET
ajfa-989	20	21	optimal	optimal	ADJ
ajfa-989	20	22	portfolio	portfolio	NOUN
ajfa-989	20	23	,	,	PUNCT
ajfa-989	20	24	especially	especially	ADV
ajfa-989	20	25	in	in	ADP
ajfa-989	20	26	emerging	emerge	VERB
ajfa-989	20	27	markets	market	NOUN
ajfa-989	20	28	.	.	PUNCT
ajfa-989	21	1	since	since	SCONJ
ajfa-989	21	2	the	the	DET
ajfa-989	21	3	risk	risk	NOUN
ajfa-989	21	4	–	–	PUNCT
ajfa-989	21	5	return	return	NOUN
ajfa-989	21	6	characteristics	characteristic	NOUN
ajfa-989	21	7	of	of	ADP
ajfa-989	21	8	stocks	stock	NOUN
ajfa-989	21	9	and	and	CCONJ
ajfa-989	21	10	bonds	bond	NOUN
ajfa-989	21	11	are	be	AUX
ajfa-989	21	12	very	very	ADV
ajfa-989	21	13	different	different	ADJ
ajfa-989	21	14	,	,	PUNCT
ajfa-989	21	15	stock	stock	NOUN
ajfa-989	21	16	–	–	PUNCT
ajfa-989	21	17	bond	bond	NOUN
ajfa-989	21	18	correlation	correlation	NOUN
ajfa-989	21	19	plays	play	VERB
ajfa-989	21	20	an	an	DET
ajfa-989	21	21	important	important	ADJ
ajfa-989	21	22	role	role	NOUN
ajfa-989	21	23	in	in	ADP
ajfa-989	21	24	asset	asset	NOUN
ajfa-989	21	25	allocation	allocation	NOUN
ajfa-989	21	26	,	,	PUNCT
ajfa-989	21	27	portfolio	portfolio	NOUN
ajfa-989	21	28	management	management	NOUN
ajfa-989	21	29	and	and	CCONJ
ajfa-989	21	30	risk	risk	NOUN
ajfa-989	21	31	management	management	NOUN
ajfa-989	21	32	.	.	PUNCT
ajfa-989	22	1	it	it	PRON
ajfa-989	22	2	is	be	AUX
ajfa-989	22	3	therefore	therefore	ADV
ajfa-989	22	4	a	a	DET
ajfa-989	22	5	natural	natural	ADJ
ajfa-989	22	6	question	question	NOUN
ajfa-989	22	7	to	to	PART
ajfa-989	22	8	ask	ask	VERB
ajfa-989	22	9	whether	whether	SCONJ
ajfa-989	22	10	there	there	PRON
ajfa-989	22	11	is	be	VERB
ajfa-989	22	12	a	a	DET
ajfa-989	22	13	relationship	relationship	NOUN
ajfa-989	22	14	between	between	ADP
ajfa-989	22	15	the	the	DET
ajfa-989	22	16	returns	return	NOUN
ajfa-989	22	17	on	on	ADP
ajfa-989	22	18	stocks	stock	NOUN
ajfa-989	22	19	and	and	CCONJ
ajfa-989	22	20	bonds	bond	NOUN
ajfa-989	22	21	,	,	PUNCT
ajfa-989	22	22	considering	consider	VERB
ajfa-989	22	23	the	the	DET
ajfa-989	22	24	main	main	ADJ
ajfa-989	22	25	objective	objective	NOUN
ajfa-989	22	26	of	of	ADP
ajfa-989	22	27	a	a	DET
ajfa-989	22	28	portfolio	portfolio	NOUN
ajfa-989	22	29	manger	manger	NOUN
ajfa-989	22	30	,	,	PUNCT
ajfa-989	22	31	i.e.	i.e.	X
ajfa-989	22	32	,	,	PUNCT
ajfa-989	22	33	to	to	PART
ajfa-989	22	34	construct	construct	VERB
ajfa-989	22	35	a	a	DET
ajfa-989	22	36	portfolio	portfolio	NOUN
ajfa-989	22	37	that	that	PRON
ajfa-989	22	38	has	have	VERB
ajfa-989	22	39	the	the	DET
ajfa-989	22	40	largest	large	ADJ
ajfa-989	22	41	expected	expect	VERB
ajfa-989	22	42	return	return	NOUN
ajfa-989	22	43	with	with	ADP
ajfa-989	22	44	a	a	DET
ajfa-989	22	45	minimum	minimum	ADJ
ajfa-989	22	46	risk	risk	NOUN
ajfa-989	22	47	.	.	PUNCT
ajfa-989	23	1	moreover	moreover	ADV
ajfa-989	23	2	,	,	PUNCT
ajfa-989	23	3	the	the	DET
ajfa-989	23	4	above	above	ADV
ajfa-989	23	5	-	-	PUNCT
ajfa-989	23	6	mentioned	mention	VERB
ajfa-989	23	7	contradictory	contradictory	ADJ
ajfa-989	23	8	empirics	empiric	NOUN
ajfa-989	23	9	motivate	motivate	VERB
ajfa-989	23	10	us	we	PRON
ajfa-989	23	11	to	to	PART
ajfa-989	23	12	explore	explore	VERB
ajfa-989	23	13	this	this	DET
ajfa-989	23	14	issue	issue	NOUN
ajfa-989	23	15	further	far	ADV
ajfa-989	23	16	and	and	CCONJ
ajfa-989	23	17	especially	especially	ADV
ajfa-989	23	18	in	in	ADP
ajfa-989	23	19	the	the	DET
ajfa-989	23	20	context	context	NOUN
ajfa-989	23	21	of	of	ADP
ajfa-989	23	22	emerging	emerge	VERB
ajfa-989	23	23	markets	market	NOUN
ajfa-989	23	24	.	.	PUNCT
ajfa-989	24	1	there	there	PRON
ajfa-989	24	2	are	be	VERB
ajfa-989	24	3	several	several	ADJ
ajfa-989	24	4	techniques	technique	NOUN
ajfa-989	24	5	to	to	PART
ajfa-989	24	6	model	model	VERB
ajfa-989	24	7	the	the	DET
ajfa-989	24	8	correlations	correlation	NOUN
ajfa-989	24	9	between	between	ADP
ajfa-989	24	10	the	the	DET
ajfa-989	24	11	returns	return	NOUN
ajfa-989	24	12	on	on	ADP
ajfa-989	24	13	the	the	DET
ajfa-989	24	14	stock	stock	NOUN
ajfa-989	24	15	and	and	CCONJ
ajfa-989	24	16	bond	bond	NOUN
ajfa-989	24	17	markets	market	NOUN
ajfa-989	24	18	,	,	PUNCT
ajfa-989	24	19	but	but	CCONJ
ajfa-989	24	20	the	the	DET
ajfa-989	24	21	conventional	conventional	ADJ
ajfa-989	24	22	method	method	NOUN
ajfa-989	24	23	relies	rely	VERB
ajfa-989	24	24	on	on	ADP
ajfa-989	24	25	a	a	DET
ajfa-989	24	26	simple	simple	ADJ
ajfa-989	24	27	regression	regression	NOUN
ajfa-989	24	28	analysis	analysis	NOUN
ajfa-989	24	29	or	or	CCONJ
ajfa-989	24	30	takes	take	VERB
ajfa-989	24	31	an	an	DET
ajfa-989	24	32	unconditional	unconditional	ADJ
ajfa-989	24	33	correlation	correlation	NOUN
ajfa-989	24	34	based	base	VERB
ajfa-989	24	35	on	on	ADP
ajfa-989	24	36	a	a	DET
ajfa-989	24	37	specific	specific	ADJ
ajfa-989	24	38	sample	sample	NOUN
ajfa-989	24	39	period	period	NOUN
ajfa-989	24	40	,	,	PUNCT
ajfa-989	24	41	such	such	ADJ
ajfa-989	24	42	as	as	ADP
ajfa-989	24	43	rolling	roll	VERB
ajfa-989	24	44	window	window	NOUN
ajfa-989	24	45	correlation	correlation	NOUN
ajfa-989	24	46	estimation	estimation	NOUN
ajfa-989	24	47	.	.	PUNCT
ajfa-989	25	1	however	however	ADV
ajfa-989	25	2	,	,	PUNCT
ajfa-989	25	3	the	the	DET
ajfa-989	25	4	past	past	ADJ
ajfa-989	25	5	two	two	NUM
ajfa-989	25	6	and	and	CCONJ
ajfa-989	25	7	a	a	DET
ajfa-989	25	8	half	half	NOUN
ajfa-989	25	9	decades	decade	NOUN
ajfa-989	25	10	have	have	AUX
ajfa-989	25	11	witnessed	witness	VERB
ajfa-989	25	12	a	a	DET
ajfa-989	25	13	high	high	ADJ
ajfa-989	25	14	development	development	NOUN
ajfa-989	25	15	in	in	ADP
ajfa-989	25	16	time	time	NOUN
ajfa-989	25	17	series	series	PROPN
ajfa-989	25	18	analysis	analysis	NOUN
ajfa-989	25	19	,	,	PUNCT
ajfa-989	25	20	especially	especially	ADV
ajfa-989	25	21	after	after	ADP
ajfa-989	25	22	the	the	DET
ajfa-989	25	23	seminal	seminal	ADJ
ajfa-989	25	24	works	work	NOUN
ajfa-989	25	25	of	of	ADP
ajfa-989	25	26	engle	engle	PROPN
ajfa-989	25	27	(	(	PUNCT
ajfa-989	25	28	1982	1982	NUM
ajfa-989	25	29	)	)	PUNCT
ajfa-989	25	30	and	and	CCONJ
ajfa-989	25	31	bollerslev	bollerslev	ADJ
ajfa-989	25	32	(	(	PUNCT
ajfa-989	25	33	1986	1986	NUM
ajfa-989	25	34	)	)	PUNCT
ajfa-989	25	35	.	.	PUNCT
ajfa-989	26	1	multivariate	multivariate	NOUN
ajfa-989	26	2	garch	garch	NOUN
ajfa-989	26	3	models	model	NOUN
ajfa-989	26	4	have	have	AUX
ajfa-989	26	5	been	be	AUX
ajfa-989	26	6	extensively	extensively	ADV
ajfa-989	26	7	applied	apply	VERB
ajfa-989	26	8	to	to	PART
ajfa-989	26	9	investigate	investigate	VERB
ajfa-989	26	10	asian	asian	ADJ
ajfa-989	26	11	journal	journal	NOUN
ajfa-989	26	12	of	of	ADP
ajfa-989	26	13	finance	finance	PROPN
ajfa-989	26	14	&	&	CCONJ
ajfa-989	26	15	accounting	accounting	PROPN
ajfa-989	26	16	issn	issn	PROPN
ajfa-989	26	17	1946	1946	NUM
ajfa-989	26	18	-	-	PUNCT
ajfa-989	26	19	052x	052x	NOUN
ajfa-989	26	20	2011	2011	NUM
ajfa-989	26	21	,	,	PUNCT
ajfa-989	26	22	vol	vol	NOUN
ajfa-989	26	23	.	.	PROPN
ajfa-989	27	1	3	3	NUM
ajfa-989	27	2	,	,	PUNCT
ajfa-989	27	3	no	no	INTJ
ajfa-989	27	4	.	.	NOUN
ajfa-989	27	5	1	1	NUM
ajfa-989	27	6	:	:	PUNCT
ajfa-989	27	7	e5	e5	PROPN
ajfa-989	27	8	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-989	27	9	74	74	NUM
ajfa-989	27	10	the	the	DET
ajfa-989	27	11	co	co	NOUN
ajfa-989	27	12	-	-	NOUN
ajfa-989	27	13	movements	movement	NOUN
ajfa-989	27	14	between	between	ADP
ajfa-989	27	15	different	different	ADJ
ajfa-989	27	16	asset	asset	NOUN
ajfa-989	27	17	markets	market	NOUN
ajfa-989	27	18	.	.	PUNCT
ajfa-989	28	1	however	however	ADV
ajfa-989	28	2	,	,	PUNCT
ajfa-989	28	3	studies	study	NOUN
ajfa-989	28	4	dealing	deal	VERB
ajfa-989	28	5	with	with	ADP
ajfa-989	28	6	the	the	DET
ajfa-989	28	7	interdependence	interdependence	NOUN
ajfa-989	28	8	across	across	ADP
ajfa-989	28	9	the	the	DET
ajfa-989	28	10	stock	stock	NOUN
ajfa-989	28	11	and	and	CCONJ
ajfa-989	28	12	bond	bond	NOUN
ajfa-989	28	13	markets	market	NOUN
ajfa-989	28	14	are	be	AUX
ajfa-989	28	15	scarce	scarce	ADJ
ajfa-989	28	16	,	,	PUNCT
ajfa-989	28	17	particularly	particularly	ADV
ajfa-989	28	18	within	within	ADP
ajfa-989	28	19	the	the	DET
ajfa-989	28	20	context	context	NOUN
ajfa-989	28	21	of	of	ADP
ajfa-989	28	22	emerging	emerge	VERB
ajfa-989	28	23	markets	market	NOUN
ajfa-989	28	24	.	.	PUNCT
ajfa-989	29	1	in	in	ADP
ajfa-989	29	2	the	the	DET
ajfa-989	29	3	early	early	ADJ
ajfa-989	29	4	days	day	NOUN
ajfa-989	29	5	,	,	PUNCT
ajfa-989	29	6	bollerslev	bollerslev	ADJ
ajfa-989	29	7	et	et	PROPN
ajfa-989	29	8	al	al	PROPN
ajfa-989	29	9	.	.	PUNCT
ajfa-989	30	1	(	(	PUNCT
ajfa-989	30	2	1988	1988	NUM
ajfa-989	30	3	)	)	PUNCT
ajfa-989	30	4	,	,	PUNCT
ajfa-989	30	5	among	among	ADP
ajfa-989	30	6	others	other	NOUN
ajfa-989	30	7	,	,	PUNCT
ajfa-989	30	8	proposed	propose	VERB
ajfa-989	30	9	a	a	DET
ajfa-989	30	10	vech	vech	PROPN
ajfa-989	30	11	model	model	NOUN
ajfa-989	30	12	to	to	PART
ajfa-989	30	13	inspect	inspect	VERB
ajfa-989	30	14	the	the	DET
ajfa-989	30	15	correlation	correlation	NOUN
ajfa-989	30	16	between	between	ADP
ajfa-989	30	17	the	the	DET
ajfa-989	30	18	bond	bond	NOUN
ajfa-989	30	19	and	and	CCONJ
ajfa-989	30	20	stock	stock	NOUN
ajfa-989	30	21	market	market	NOUN
ajfa-989	30	22	in	in	ADP
ajfa-989	30	23	the	the	DET
ajfa-989	30	24	usa	usa	PROPN
ajfa-989	30	25	.	.	PROPN
ajfa-989	31	1	later	later	ADV
ajfa-989	31	2	,	,	PUNCT
ajfa-989	31	3	the	the	DET
ajfa-989	31	4	bekk	bekk	NOUN
ajfa-989	31	5	model	model	NOUN
ajfa-989	31	6	of	of	ADP
ajfa-989	31	7	engle	engle	PROPN
ajfa-989	31	8	and	and	CCONJ
ajfa-989	31	9	kroner	kroner	PROPN
ajfa-989	31	10	(	(	PUNCT
ajfa-989	31	11	1995	1995	NUM
ajfa-989	31	12	)	)	PUNCT
ajfa-989	31	13	became	become	VERB
ajfa-989	31	14	popular	popular	ADJ
ajfa-989	31	15	to	to	PART
ajfa-989	31	16	test	test	VERB
ajfa-989	31	17	the	the	DET
ajfa-989	31	18	linkage	linkage	NOUN
ajfa-989	31	19	between	between	ADP
ajfa-989	31	20	different	different	ADJ
ajfa-989	31	21	markets	market	NOUN
ajfa-989	31	22	and	and	CCONJ
ajfa-989	31	23	it	it	PRON
ajfa-989	31	24	has	have	AUX
ajfa-989	31	25	also	also	ADV
ajfa-989	31	26	been	be	AUX
ajfa-989	31	27	applied	apply	VERB
ajfa-989	31	28	to	to	PART
ajfa-989	31	29	examine	examine	VERB
ajfa-989	31	30	the	the	DET
ajfa-989	31	31	relationship	relationship	NOUN
ajfa-989	31	32	between	between	ADP
ajfa-989	31	33	the	the	DET
ajfa-989	31	34	stock	stock	NOUN
ajfa-989	31	35	and	and	CCONJ
ajfa-989	31	36	bond	bond	NOUN
ajfa-989	31	37	markets	market	NOUN
ajfa-989	31	38	(	(	PUNCT
ajfa-989	31	39	see	see	VERB
ajfa-989	31	40	,	,	PUNCT
ajfa-989	31	41	e.g.	e.g.	ADV
ajfa-989	31	42	,	,	PUNCT
ajfa-989	31	43	scruggs	scrugg	NOUN
ajfa-989	31	44	and	and	CCONJ
ajfa-989	31	45	glabadanidis	glabadanidis	PROPN
ajfa-989	31	46	,	,	PUNCT
ajfa-989	31	47	2003	2003	NUM
ajfa-989	31	48	)	)	PUNCT
ajfa-989	31	49	.	.	PUNCT
ajfa-989	32	1	similarly	similarly	ADV
ajfa-989	32	2	,	,	PUNCT
ajfa-989	32	3	the	the	DET
ajfa-989	32	4	constant	constant	ADJ
ajfa-989	32	5	correlation	correlation	NOUN
ajfa-989	32	6	coefficient	coefficient	NOUN
ajfa-989	32	7	model	model	NOUN
ajfa-989	32	8	of	of	ADP
ajfa-989	32	9	bollerslev	bollerslev	ADJ
ajfa-989	32	10	(	(	PUNCT
ajfa-989	32	11	1990	1990	NUM
ajfa-989	32	12	)	)	PUNCT
ajfa-989	32	13	has	have	AUX
ajfa-989	32	14	been	be	AUX
ajfa-989	32	15	applied	apply	VERB
ajfa-989	32	16	to	to	PART
ajfa-989	32	17	investigate	investigate	VERB
ajfa-989	32	18	the	the	DET
ajfa-989	32	19	linkage	linkage	NOUN
ajfa-989	32	20	between	between	ADP
ajfa-989	32	21	the	the	DET
ajfa-989	32	22	stock	stock	NOUN
ajfa-989	32	23	and	and	CCONJ
ajfa-989	32	24	bond	bond	NOUN
ajfa-989	32	25	markets	market	NOUN
ajfa-989	32	26	(	(	PUNCT
ajfa-989	32	27	see	see	VERB
ajfa-989	32	28	,	,	PUNCT
ajfa-989	32	29	e.g.	e.g.	ADV
ajfa-989	32	30	,	,	PUNCT
ajfa-989	32	31	abid	abid	PROPN
ajfa-989	32	32	et	et	PROPN
ajfa-989	32	33	al	al	PROPN
ajfa-989	32	34	.	.	PROPN
ajfa-989	32	35	,	,	PUNCT
ajfa-989	32	36	2003	2003	NUM
ajfa-989	32	37	)	)	PUNCT
ajfa-989	32	38	the	the	DET
ajfa-989	32	39	most	most	ADV
ajfa-989	32	40	recent	recent	ADJ
ajfa-989	32	41	addition	addition	NOUN
ajfa-989	32	42	in	in	ADP
ajfa-989	32	43	the	the	DET
ajfa-989	32	44	class	class	NOUN
ajfa-989	32	45	of	of	ADP
ajfa-989	32	46	multivariate	multivariate	NOUN
ajfa-989	32	47	garch	garch	NOUN
ajfa-989	32	48	models	model	NOUN
ajfa-989	32	49	is	be	AUX
ajfa-989	32	50	the	the	DET
ajfa-989	32	51	dynamic	dynamic	ADJ
ajfa-989	32	52	conditional	conditional	ADJ
ajfa-989	32	53	correlation	correlation	NOUN
ajfa-989	32	54	(	(	PUNCT
ajfa-989	32	55	dcc	dcc	PROPN
ajfa-989	32	56	)	)	PUNCT
ajfa-989	32	57	model	model	NOUN
ajfa-989	32	58	of	of	ADP
ajfa-989	32	59	engle	engle	PROPN
ajfa-989	32	60	(	(	PUNCT
ajfa-989	32	61	2002	2002	NUM
ajfa-989	32	62	)	)	PUNCT
ajfa-989	32	63	.	.	PUNCT
ajfa-989	33	1	this	this	DET
ajfa-989	33	2	model	model	NOUN
ajfa-989	33	3	has	have	VERB
ajfa-989	33	4	a	a	DET
ajfa-989	33	5	clear	clear	ADJ
ajfa-989	33	6	advantage	advantage	NOUN
ajfa-989	33	7	over	over	ADP
ajfa-989	33	8	previous	previous	ADJ
ajfa-989	33	9	models	model	NOUN
ajfa-989	33	10	as	as	SCONJ
ajfa-989	33	11	it	it	PRON
ajfa-989	33	12	avoids	avoid	VERB
ajfa-989	33	13	computational	computational	ADJ
ajfa-989	33	14	complexities	complexity	NOUN
ajfa-989	33	15	,	,	PUNCT
ajfa-989	33	16	estimates	estimate	VERB
ajfa-989	33	17	large	large	ADJ
ajfa-989	33	18	conditional	conditional	ADJ
ajfa-989	33	19	variance	variance	NOUN
ajfa-989	33	20	–	–	PUNCT
ajfa-989	33	21	covariance	covariance	NOUN
ajfa-989	33	22	matrices	matrix	NOUN
ajfa-989	33	23	and	and	CCONJ
ajfa-989	33	24	also	also	ADV
ajfa-989	33	25	circumvents	circumvent	VERB
ajfa-989	33	26	the	the	DET
ajfa-989	33	27	convergence	convergence	NOUN
ajfa-989	33	28	problems	problem	NOUN
ajfa-989	33	29	.	.	PUNCT
ajfa-989	34	1	moreover	moreover	ADV
ajfa-989	34	2	,	,	PUNCT
ajfa-989	34	3	the	the	DET
ajfa-989	34	4	dcc	dcc	PROPN
ajfa-989	34	5	model	model	NOUN
ajfa-989	34	6	perfectly	perfectly	ADV
ajfa-989	34	7	overcomes	overcome	VERB
ajfa-989	34	8	the	the	DET
ajfa-989	34	9	heteroskedasticity	heteroskedasticity	NOUN
ajfa-989	34	10	problem	problem	NOUN
ajfa-989	34	11	since	since	SCONJ
ajfa-989	34	12	the	the	DET
ajfa-989	34	13	residuals	residual	NOUN
ajfa-989	34	14	of	of	ADP
ajfa-989	34	15	the	the	DET
ajfa-989	34	16	returns	return	NOUN
ajfa-989	34	17	are	be	AUX
ajfa-989	34	18	standardized	standardize	VERB
ajfa-989	34	19	by	by	ADP
ajfa-989	34	20	the	the	DET
ajfa-989	34	21	conditional	conditional	ADJ
ajfa-989	34	22	standard	standard	ADJ
ajfa-989	34	23	deviation	deviation	NOUN
ajfa-989	34	24	based	base	VERB
ajfa-989	34	25	on	on	ADP
ajfa-989	34	26	the	the	DET
ajfa-989	34	27	garch	garch	NOUN
ajfa-989	34	28	(	(	PUNCT
ajfa-989	34	29	1	1	NUM
ajfa-989	34	30	,	,	PUNCT
ajfa-989	34	31	1	1	NUM
ajfa-989	34	32	)	)	PUNCT
ajfa-989	34	33	process	process	NOUN
ajfa-989	34	34	.	.	PUNCT
ajfa-989	35	1	however	however	ADV
ajfa-989	35	2	,	,	PUNCT
ajfa-989	35	3	it	it	PRON
ajfa-989	35	4	does	do	AUX
ajfa-989	35	5	not	not	PART
ajfa-989	35	6	account	account	VERB
ajfa-989	35	7	for	for	ADP
ajfa-989	35	8	the	the	DET
ajfa-989	35	9	asymmetries	asymmetry	NOUN
ajfa-989	35	10	in	in	ADP
ajfa-989	35	11	conditional	conditional	ADJ
ajfa-989	35	12	variances	variance	NOUN
ajfa-989	35	13	,	,	PUNCT
ajfa-989	35	14	covariances	covariance	NOUN
ajfa-989	35	15	,	,	PUNCT
ajfa-989	35	16	and	and	CCONJ
ajfa-989	35	17	correlations	correlation	NOUN
ajfa-989	35	18	,	,	PUNCT
ajfa-989	35	19	but	but	CCONJ
ajfa-989	35	20	thanks	thank	NOUN
ajfa-989	35	21	to	to	ADP
ajfa-989	35	22	cappiello	cappiello	PROPN
ajfa-989	35	23	et	et	PROPN
ajfa-989	35	24	al	al	PROPN
ajfa-989	35	25	.	.	PROPN
ajfa-989	36	1	(	(	PUNCT
ajfa-989	36	2	2006	2006	NUM
ajfa-989	36	3	)	)	PUNCT
ajfa-989	36	4	this	this	DET
ajfa-989	36	5	oversight	oversight	NOUN
ajfa-989	36	6	was	be	AUX
ajfa-989	36	7	corrected	correct	VERB
ajfa-989	36	8	because	because	SCONJ
ajfa-989	36	9	they	they	PRON
ajfa-989	36	10	recently	recently	ADV
ajfa-989	36	11	proposed	propose	VERB
ajfa-989	36	12	an	an	DET
ajfa-989	36	13	asymmetric	asymmetric	ADJ
ajfa-989	36	14	version	version	NOUN
ajfa-989	36	15	of	of	ADP
ajfa-989	36	16	the	the	DET
ajfa-989	36	17	dynamic	dynamic	ADJ
ajfa-989	36	18	conditional	conditional	ADJ
ajfa-989	36	19	correlation	correlation	NOUN
ajfa-989	36	20	(	(	PUNCT
ajfa-989	36	21	adcc	adcc	NOUN
ajfa-989	36	22	)	)	PUNCT
ajfa-989	36	23	model	model	NOUN
ajfa-989	36	24	to	to	PART
ajfa-989	36	25	deal	deal	VERB
ajfa-989	36	26	with	with	ADP
ajfa-989	36	27	the	the	DET
ajfa-989	36	28	asymmetries	asymmetry	NOUN
ajfa-989	36	29	in	in	ADP
ajfa-989	36	30	the	the	DET
ajfa-989	36	31	conditional	conditional	ADJ
ajfa-989	36	32	variances	variance	NOUN
ajfa-989	36	33	,	,	PUNCT
ajfa-989	36	34	covariances	covariance	NOUN
ajfa-989	36	35	,	,	PUNCT
ajfa-989	36	36	and	and	CCONJ
ajfa-989	36	37	correlations	correlation	NOUN
ajfa-989	36	38	of	of	ADP
ajfa-989	36	39	two	two	NUM
ajfa-989	36	40	assets	asset	NOUN
ajfa-989	36	41	.	.	PUNCT
ajfa-989	37	1	over	over	ADP
ajfa-989	37	2	the	the	DET
ajfa-989	37	3	past	past	ADJ
ajfa-989	37	4	few	few	ADJ
ajfa-989	37	5	years	year	NOUN
ajfa-989	37	6	the	the	DET
ajfa-989	37	7	russian	russian	ADJ
ajfa-989	37	8	equity	equity	NOUN
ajfa-989	37	9	and	and	CCONJ
ajfa-989	37	10	fixed	fix	VERB
ajfa-989	37	11	income	income	NOUN
ajfa-989	37	12	markets	market	NOUN
ajfa-989	37	13	have	have	AUX
ajfa-989	37	14	shown	show	VERB
ajfa-989	37	15	a	a	DET
ajfa-989	37	16	tremendous	tremendous	ADJ
ajfa-989	37	17	attraction	attraction	NOUN
ajfa-989	37	18	to	to	ADP
ajfa-989	37	19	both	both	CCONJ
ajfa-989	37	20	domestic	domestic	ADJ
ajfa-989	37	21	and	and	CCONJ
ajfa-989	37	22	international	international	ADJ
ajfa-989	37	23	investors	investor	NOUN
ajfa-989	37	24	due	due	ADP
ajfa-989	37	25	to	to	ADP
ajfa-989	37	26	their	their	PRON
ajfa-989	37	27	rapid	rapid	ADJ
ajfa-989	37	28	growth	growth	NOUN
ajfa-989	37	29	and	and	CCONJ
ajfa-989	37	30	corrective	corrective	ADJ
ajfa-989	37	31	measures	measure	NOUN
ajfa-989	37	32	taken	take	VERB
ajfa-989	37	33	by	by	ADP
ajfa-989	37	34	the	the	DET
ajfa-989	37	35	russian	russian	ADJ
ajfa-989	37	36	policy	policy	NOUN
ajfa-989	37	37	makers	maker	NOUN
ajfa-989	37	38	.	.	PUNCT
ajfa-989	38	1	although	although	SCONJ
ajfa-989	38	2	the	the	DET
ajfa-989	38	3	russian	russian	ADJ
ajfa-989	38	4	market	market	NOUN
ajfa-989	38	5	is	be	AUX
ajfa-989	38	6	considered	consider	VERB
ajfa-989	38	7	risky	risky	ADJ
ajfa-989	38	8	(	(	PUNCT
ajfa-989	38	9	see	see	VERB
ajfa-989	38	10	,	,	PUNCT
ajfa-989	38	11	e.g.	e.g.	ADV
ajfa-989	38	12	,	,	PUNCT
ajfa-989	38	13	saleem	saleem	ADJ
ajfa-989	38	14	and	and	CCONJ
ajfa-989	38	15	vaihekoski	vaihekoski	ADJ
ajfa-989	38	16	,	,	PUNCT
ajfa-989	38	17	2008	2008	NUM
ajfa-989	38	18	)	)	PUNCT
ajfa-989	38	19	,	,	PUNCT
ajfa-989	38	20	it	it	PRON
ajfa-989	38	21	is	be	AUX
ajfa-989	38	22	also	also	ADV
ajfa-989	38	23	a	a	DET
ajfa-989	38	24	fact	fact	NOUN
ajfa-989	38	25	that	that	SCONJ
ajfa-989	38	26	today	today	NOUN
ajfa-989	38	27	russia	russia	PROPN
ajfa-989	38	28	is	be	AUX
ajfa-989	38	29	a	a	DET
ajfa-989	38	30	mainstream	mainstream	NOUN
ajfa-989	38	31	market	market	NOUN
ajfa-989	38	32	for	for	ADP
ajfa-989	38	33	international	international	ADJ
ajfa-989	38	34	investors	investor	NOUN
ajfa-989	38	35	who	who	PRON
ajfa-989	38	36	are	be	AUX
ajfa-989	38	37	interested	interested	ADJ
ajfa-989	38	38	to	to	PART
ajfa-989	38	39	diversify	diversify	VERB
ajfa-989	38	40	their	their	PRON
ajfa-989	38	41	portfolios	portfolio	NOUN
ajfa-989	38	42	geographically	geographically	ADV
ajfa-989	38	43	.	.	PUNCT
ajfa-989	39	1	therefore	therefore	ADV
ajfa-989	39	2	,	,	PUNCT
ajfa-989	39	3	the	the	DET
ajfa-989	39	4	russian	russian	ADJ
ajfa-989	39	5	equity	equity	NOUN
ajfa-989	39	6	market	market	NOUN
ajfa-989	39	7	is	be	AUX
ajfa-989	39	8	worth	worth	ADJ
ajfa-989	39	9	investigation	investigation	NOUN
ajfa-989	39	10	.	.	PUNCT
ajfa-989	40	1	in	in	ADP
ajfa-989	40	2	this	this	DET
ajfa-989	40	3	study	study	NOUN
ajfa-989	40	4	the	the	DET
ajfa-989	40	5	attempt	attempt	NOUN
ajfa-989	40	6	is	be	AUX
ajfa-989	40	7	to	to	PART
ajfa-989	40	8	model	model	VERB
ajfa-989	40	9	the	the	DET
ajfa-989	40	10	correlations	correlation	NOUN
ajfa-989	40	11	between	between	ADP
ajfa-989	40	12	the	the	DET
ajfa-989	40	13	returns	return	NOUN
ajfa-989	40	14	on	on	ADP
ajfa-989	40	15	the	the	DET
ajfa-989	40	16	stock	stock	NOUN
ajfa-989	40	17	and	and	CCONJ
ajfa-989	40	18	bond	bond	NOUN
ajfa-989	40	19	markets	market	NOUN
ajfa-989	40	20	of	of	ADP
ajfa-989	40	21	russia	russia	PROPN
ajfa-989	40	22	.	.	PUNCT
ajfa-989	41	1	firstly	firstly	ADV
ajfa-989	41	2	,	,	PUNCT
ajfa-989	41	3	we	we	PRON
ajfa-989	41	4	question	question	VERB
ajfa-989	41	5	whether	whether	SCONJ
ajfa-989	41	6	the	the	DET
ajfa-989	41	7	co	co	NOUN
ajfa-989	41	8	-	-	NOUN
ajfa-989	41	9	movement	movement	NOUN
ajfa-989	41	10	between	between	ADP
ajfa-989	41	11	the	the	DET
ajfa-989	41	12	two	two	NUM
ajfa-989	41	13	asset	asset	NOUN
ajfa-989	41	14	classes	class	NOUN
ajfa-989	41	15	is	be	AUX
ajfa-989	41	16	constant	constant	ADJ
ajfa-989	41	17	over	over	ADP
ajfa-989	41	18	time	time	NOUN
ajfa-989	41	19	by	by	ADP
ajfa-989	41	20	utilizing	utilize	VERB
ajfa-989	41	21	bollerslev	bollerslev	NOUN
ajfa-989	41	22	’s	’s	PART
ajfa-989	41	23	(	(	PUNCT
ajfa-989	41	24	1990	1990	NUM
ajfa-989	41	25	)	)	PUNCT
ajfa-989	41	26	constant	constant	ADJ
ajfa-989	41	27	conditional	conditional	ADJ
ajfa-989	41	28	correlation	correlation	NOUN
ajfa-989	41	29	model	model	NOUN
ajfa-989	41	30	.	.	PUNCT
ajfa-989	42	1	further	far	ADV
ajfa-989	42	2	,	,	PUNCT
ajfa-989	42	3	to	to	PART
ajfa-989	42	4	analyze	analyze	VERB
ajfa-989	42	5	the	the	DET
ajfa-989	42	6	dynamics	dynamic	NOUN
ajfa-989	42	7	of	of	ADP
ajfa-989	42	8	the	the	DET
ajfa-989	42	9	time	time	NOUN
ajfa-989	42	10	varying	vary	VERB
ajfa-989	42	11	conditional	conditional	ADJ
ajfa-989	42	12	correlations	correlation	NOUN
ajfa-989	42	13	between	between	ADP
ajfa-989	42	14	the	the	DET
ajfa-989	42	15	two	two	NUM
ajfa-989	42	16	assets	asset	NOUN
ajfa-989	42	17	we	we	PRON
ajfa-989	42	18	use	use	VERB
ajfa-989	42	19	the	the	DET
ajfa-989	42	20	dcc	dcc	PROPN
ajfa-989	42	21	-	-	PUNCT
ajfa-989	42	22	garch	garch	NOUN
ajfa-989	42	23	(	(	PUNCT
ajfa-989	42	24	1	1	NUM
ajfa-989	42	25	,	,	PUNCT
ajfa-989	42	26	1	1	X
ajfa-989	42	27	)	)	PUNCT
ajfa-989	42	28	model	model	NOUN
ajfa-989	42	29	proposed	propose	VERB
ajfa-989	42	30	by	by	ADP
ajfa-989	42	31	engle	engle	PROPN
ajfa-989	42	32	(	(	PUNCT
ajfa-989	42	33	2002	2002	NUM
ajfa-989	42	34	)	)	PUNCT
ajfa-989	42	35	.	.	PUNCT
ajfa-989	43	1	finally	finally	ADV
ajfa-989	43	2	,	,	PUNCT
ajfa-989	43	3	to	to	PART
ajfa-989	43	4	investigate	investigate	VERB
ajfa-989	43	5	the	the	DET
ajfa-989	43	6	asymmetries	asymmetry	NOUN
ajfa-989	43	7	in	in	ADP
ajfa-989	43	8	conditional	conditional	ADJ
ajfa-989	43	9	variances	variance	NOUN
ajfa-989	43	10	,	,	PUNCT
ajfa-989	43	11	covariances	covariance	NOUN
ajfa-989	43	12	,	,	PUNCT
ajfa-989	43	13	and	and	CCONJ
ajfa-989	43	14	correlations	correlation	NOUN
ajfa-989	43	15	,	,	PUNCT
ajfa-989	43	16	we	we	PRON
ajfa-989	43	17	adopt	adopt	VERB
ajfa-989	43	18	an	an	DET
ajfa-989	43	19	asymmetric	asymmetric	ADJ
ajfa-989	43	20	version	version	NOUN
ajfa-989	43	21	of	of	ADP
ajfa-989	43	22	the	the	DET
ajfa-989	43	23	dynamic	dynamic	ADJ
ajfa-989	43	24	conditional	conditional	ADJ
ajfa-989	43	25	correlation	correlation	NOUN
ajfa-989	43	26	(	(	PUNCT
ajfa-989	43	27	adcc	adcc	NOUN
ajfa-989	43	28	)	)	PUNCT
ajfa-989	43	29	model	model	NOUN
ajfa-989	43	30	proposed	propose	VERB
ajfa-989	43	31	by	by	ADP
ajfa-989	43	32	cappiello	cappiello	PROPN
ajfa-989	43	33	et	et	PROPN
ajfa-989	43	34	al	al	PROPN
ajfa-989	43	35	.	.	PROPN
ajfa-989	44	1	(	(	PUNCT
ajfa-989	44	2	2006	2006	NUM
ajfa-989	44	3	)	)	PUNCT
ajfa-989	44	4	.	.	PUNCT
ajfa-989	45	1	the	the	DET
ajfa-989	45	2	empirical	empirical	ADJ
ajfa-989	45	3	results	result	NOUN
ajfa-989	45	4	do	do	AUX
ajfa-989	45	5	not	not	PART
ajfa-989	45	6	support	support	VERB
ajfa-989	45	7	the	the	DET
ajfa-989	45	8	assumption	assumption	NOUN
ajfa-989	45	9	of	of	ADP
ajfa-989	45	10	constant	constant	ADJ
ajfa-989	45	11	conditional	conditional	ADJ
ajfa-989	45	12	correlation	correlation	NOUN
ajfa-989	45	13	and	and	CCONJ
ajfa-989	45	14	there	there	PRON
ajfa-989	45	15	was	be	VERB
ajfa-989	45	16	clear	clear	ADJ
ajfa-989	45	17	evidence	evidence	NOUN
ajfa-989	45	18	of	of	ADP
ajfa-989	45	19	time	time	NOUN
ajfa-989	45	20	varying	vary	VERB
ajfa-989	45	21	correlations	correlation	NOUN
ajfa-989	45	22	between	between	ADP
ajfa-989	45	23	the	the	DET
ajfa-989	45	24	russian	russian	ADJ
ajfa-989	45	25	stocks	stock	NOUN
ajfa-989	45	26	and	and	CCONJ
ajfa-989	45	27	bond	bond	NOUN
ajfa-989	45	28	market	market	NOUN
ajfa-989	45	29	.	.	PUNCT
ajfa-989	46	1	moreover	moreover	ADV
ajfa-989	46	2	,	,	PUNCT
ajfa-989	46	3	both	both	DET
ajfa-989	46	4	asset	asset	NOUN
ajfa-989	46	5	markets	market	NOUN
ajfa-989	46	6	exhibit	exhibit	VERB
ajfa-989	46	7	positive	positive	ADJ
ajfa-989	46	8	asymmetries	asymmetry	NOUN
ajfa-989	46	9	.	.	PUNCT
ajfa-989	47	1	in	in	ADP
ajfa-989	47	2	general	general	ADJ
ajfa-989	47	3	,	,	PUNCT
ajfa-989	47	4	the	the	DET
ajfa-989	47	5	results	result	NOUN
ajfa-989	47	6	offer	offer	VERB
ajfa-989	47	7	a	a	DET
ajfa-989	47	8	better	well	ADJ
ajfa-989	47	9	understanding	understanding	NOUN
ajfa-989	47	10	of	of	ADP
ajfa-989	47	11	the	the	DET
ajfa-989	47	12	dynamics	dynamic	NOUN
ajfa-989	47	13	of	of	ADP
ajfa-989	47	14	the	the	DET
ajfa-989	47	15	correlations	correlation	NOUN
ajfa-989	47	16	between	between	ADP
ajfa-989	47	17	stocks	stock	NOUN
ajfa-989	47	18	and	and	CCONJ
ajfa-989	47	19	bonds	bond	NOUN
ajfa-989	47	20	in	in	ADP
ajfa-989	47	21	an	an	DET
ajfa-989	47	22	emerging	emerge	VERB
ajfa-989	47	23	market	market	NOUN
ajfa-989	47	24	setting	setting	NOUN
ajfa-989	47	25	which	which	PRON
ajfa-989	47	26	is	be	AUX
ajfa-989	47	27	obviously	obviously	ADV
ajfa-989	47	28	very	very	ADV
ajfa-989	47	29	valuable	valuable	ADJ
ajfa-989	47	30	for	for	ADP
ajfa-989	47	31	portfolio	portfolio	NOUN
ajfa-989	47	32	managers	manager	NOUN
ajfa-989	47	33	,	,	PUNCT
ajfa-989	47	34	international	international	ADJ
ajfa-989	47	35	investors	investor	NOUN
ajfa-989	47	36	,	,	PUNCT
ajfa-989	47	37	risk	risk	NOUN
ajfa-989	47	38	analysts	analyst	NOUN
ajfa-989	47	39	and	and	CCONJ
ajfa-989	47	40	financial	financial	ADJ
ajfa-989	47	41	researchers	researcher	NOUN
ajfa-989	47	42	as	as	ADV
ajfa-989	47	43	well	well	ADV
ajfa-989	47	44	as	as	ADP
ajfa-989	47	45	for	for	ADP
ajfa-989	47	46	its	its	PRON
ajfa-989	47	47	policy	policy	NOUN
ajfa-989	47	48	implications	implication	NOUN
ajfa-989	47	49	.	.	PUNCT
ajfa-989	48	1	the	the	DET
ajfa-989	48	2	structure	structure	NOUN
ajfa-989	48	3	of	of	ADP
ajfa-989	48	4	the	the	DET
ajfa-989	48	5	paper	paper	NOUN
ajfa-989	48	6	is	be	AUX
ajfa-989	48	7	as	as	SCONJ
ajfa-989	48	8	follows	follow	VERB
ajfa-989	48	9	.	.	PUNCT
ajfa-989	49	1	the	the	DET
ajfa-989	49	2	next	next	ADJ
ajfa-989	49	3	section	section	NOUN
ajfa-989	49	4	describes	describe	VERB
ajfa-989	49	5	the	the	DET
ajfa-989	49	6	model	model	NOUN
ajfa-989	49	7	specifications	specification	NOUN
ajfa-989	49	8	asian	asian	ADJ
ajfa-989	49	9	journal	journal	NOUN
ajfa-989	49	10	of	of	ADP
ajfa-989	49	11	finance	finance	PROPN
ajfa-989	49	12	&	&	CCONJ
ajfa-989	49	13	accounting	accounting	PROPN
ajfa-989	49	14	issn	issn	PROPN
ajfa-989	49	15	1946	1946	NUM
ajfa-989	49	16	-	-	PUNCT
ajfa-989	49	17	052x	052x	NOUN
ajfa-989	49	18	2011	2011	NUM
ajfa-989	49	19	,	,	PUNCT
ajfa-989	49	20	vol	vol	NOUN
ajfa-989	49	21	.	.	PROPN
ajfa-989	50	1	3	3	NUM
ajfa-989	50	2	,	,	PUNCT
ajfa-989	50	3	no	no	INTJ
ajfa-989	50	4	.	.	NOUN
ajfa-989	50	5	1	1	NUM
ajfa-989	50	6	:	:	PUNCT
ajfa-989	50	7	e5	e5	PROPN
ajfa-989	50	8	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-989	50	9	75	75	NUM
ajfa-989	50	10	used	use	VERB
ajfa-989	50	11	to	to	PART
ajfa-989	50	12	study	study	VERB
ajfa-989	50	13	the	the	DET
ajfa-989	50	14	correlations	correlation	NOUN
ajfa-989	50	15	among	among	ADP
ajfa-989	50	16	russian	russian	ADJ
ajfa-989	50	17	stock	stock	NOUN
ajfa-989	50	18	and	and	CCONJ
ajfa-989	50	19	bond	bond	NOUN
ajfa-989	50	20	markets	market	NOUN
ajfa-989	50	21	.	.	PUNCT
ajfa-989	51	1	section	section	NOUN
ajfa-989	51	2	3	3	NUM
ajfa-989	51	3	presents	present	VERB
ajfa-989	51	4	the	the	DET
ajfa-989	51	5	data	datum	NOUN
ajfa-989	51	6	in	in	ADP
ajfa-989	51	7	this	this	DET
ajfa-989	51	8	study	study	NOUN
ajfa-989	51	9	.	.	PUNCT
ajfa-989	52	1	section	section	NOUN
ajfa-989	52	2	4	4	NUM
ajfa-989	52	3	shows	show	VERB
ajfa-989	52	4	the	the	DET
ajfa-989	52	5	empirical	empirical	ADJ
ajfa-989	52	6	results	result	NOUN
ajfa-989	52	7	,	,	PUNCT
ajfa-989	52	8	and	and	CCONJ
ajfa-989	52	9	section	section	NOUN
ajfa-989	52	10	5	5	NUM
ajfa-989	52	11	provides	provide	VERB
ajfa-989	52	12	conclusions	conclusion	NOUN
ajfa-989	52	13	.	.	PUNCT
ajfa-989	53	1	2	2	X
ajfa-989	53	2	.	.	X
ajfa-989	53	3	model	model	NOUN
ajfa-989	53	4	specification	specification	NOUN
ajfa-989	53	5	various	various	ADJ
ajfa-989	53	6	approaches	approach	NOUN
ajfa-989	53	7	have	have	AUX
ajfa-989	53	8	been	be	AUX
ajfa-989	53	9	suggested	suggest	VERB
ajfa-989	53	10	for	for	ADP
ajfa-989	53	11	the	the	DET
ajfa-989	53	12	modeling	modeling	NOUN
ajfa-989	53	13	of	of	ADP
ajfa-989	53	14	the	the	DET
ajfa-989	53	15	correlations	correlation	NOUN
ajfa-989	53	16	between	between	ADP
ajfa-989	53	17	two	two	NUM
ajfa-989	53	18	assets	asset	NOUN
ajfa-989	53	19	.	.	PUNCT
ajfa-989	54	1	the	the	DET
ajfa-989	54	2	simplest	simple	ADJ
ajfa-989	54	3	one	one	NOUN
ajfa-989	54	4	is	be	AUX
ajfa-989	54	5	the	the	DET
ajfa-989	54	6	rolling	rolling	ADJ
ajfa-989	54	7	window	window	NOUN
ajfa-989	54	8	correlation	correlation	NOUN
ajfa-989	54	9	.	.	PUNCT
ajfa-989	55	1	however	however	ADV
ajfa-989	55	2	,	,	PUNCT
ajfa-989	55	3	due	due	ADP
ajfa-989	55	4	to	to	ADP
ajfa-989	55	5	its	its	PRON
ajfa-989	55	6	fixed	fixed	ADJ
ajfa-989	55	7	window	window	NOUN
ajfa-989	55	8	and	and	CCONJ
ajfa-989	55	9	equal	equal	ADJ
ajfa-989	55	10	weights	weight	NOUN
ajfa-989	55	11	given	give	VERB
ajfa-989	55	12	to	to	ADP
ajfa-989	55	13	all	all	DET
ajfa-989	55	14	the	the	DET
ajfa-989	55	15	sample	sample	NOUN
ajfa-989	55	16	points	point	NOUN
ajfa-989	55	17	in	in	ADP
ajfa-989	55	18	a	a	DET
ajfa-989	55	19	data	data	NOUN
ajfa-989	55	20	set	set	NOUN
ajfa-989	55	21	,	,	PUNCT
ajfa-989	55	22	it	it	PRON
ajfa-989	55	23	may	may	AUX
ajfa-989	55	24	ignore	ignore	VERB
ajfa-989	55	25	the	the	DET
ajfa-989	55	26	structural	structural	ADJ
ajfa-989	55	27	changes	change	NOUN
ajfa-989	55	28	with	with	ADP
ajfa-989	55	29	different	different	ADJ
ajfa-989	55	30	degrees	degree	NOUN
ajfa-989	55	31	of	of	ADP
ajfa-989	55	32	volatility	volatility	NOUN
ajfa-989	55	33	in	in	ADP
ajfa-989	55	34	a	a	DET
ajfa-989	55	35	time	time	NOUN
ajfa-989	55	36	series	series	NOUN
ajfa-989	55	37	.	.	PUNCT
ajfa-989	55	38	bollerslev	bollerslev	PROPN
ajfa-989	55	39	et	et	PROPN
ajfa-989	55	40	al	al	PROPN
ajfa-989	55	41	.	.	PROPN
ajfa-989	56	1	(	(	PUNCT
ajfa-989	56	2	1988	1988	NUM
ajfa-989	56	3	)	)	PUNCT
ajfa-989	56	4	,	,	PUNCT
ajfa-989	56	5	among	among	ADP
ajfa-989	56	6	others	other	NOUN
ajfa-989	56	7	,	,	PUNCT
ajfa-989	56	8	proposed	propose	VERB
ajfa-989	56	9	a	a	DET
ajfa-989	56	10	model	model	NOUN
ajfa-989	56	11	in	in	ADP
ajfa-989	56	12	the	the	DET
ajfa-989	56	13	early	early	ADJ
ajfa-989	56	14	days	day	NOUN
ajfa-989	56	15	to	to	PART
ajfa-989	56	16	check	check	VERB
ajfa-989	56	17	the	the	DET
ajfa-989	56	18	conditional	conditional	ADJ
ajfa-989	56	19	covariances	covariance	NOUN
ajfa-989	56	20	between	between	ADP
ajfa-989	56	21	bills	bill	NOUN
ajfa-989	56	22	,	,	PUNCT
ajfa-989	56	23	bonds	bond	NOUN
ajfa-989	56	24	,	,	PUNCT
ajfa-989	56	25	and	and	CCONJ
ajfa-989	56	26	stocks	stock	NOUN
ajfa-989	56	27	;	;	PUNCT
ajfa-989	56	28	however	however	ADV
ajfa-989	56	29	,	,	PUNCT
ajfa-989	56	30	the	the	DET
ajfa-989	56	31	model	model	NOUN
ajfa-989	56	32	was	be	AUX
ajfa-989	56	33	not	not	PART
ajfa-989	56	34	able	able	ADJ
ajfa-989	56	35	to	to	PART
ajfa-989	56	36	assure	assure	VERB
ajfa-989	56	37	the	the	DET
ajfa-989	56	38	positive	positive	ADJ
ajfa-989	56	39	definiteness	definiteness	NOUN
ajfa-989	56	40	of	of	ADP
ajfa-989	56	41	the	the	DET
ajfa-989	56	42	conditional	conditional	ADJ
ajfa-989	56	43	variance	variance	NOUN
ajfa-989	56	44	matrix	matrix	NOUN
ajfa-989	56	45	.	.	PUNCT
ajfa-989	57	1	moreover	moreover	ADV
ajfa-989	57	2	,	,	PUNCT
ajfa-989	57	3	this	this	DET
ajfa-989	57	4	approach	approach	NOUN
ajfa-989	57	5	does	do	AUX
ajfa-989	57	6	not	not	PART
ajfa-989	57	7	allow	allow	VERB
ajfa-989	57	8	the	the	DET
ajfa-989	57	9	cross	cross	NOUN
ajfa-989	57	10	equation	equation	NOUN
ajfa-989	57	11	conditional	conditional	ADJ
ajfa-989	57	12	variances	variance	NOUN
ajfa-989	57	13	and	and	CCONJ
ajfa-989	57	14	covariances	covariance	NOUN
ajfa-989	57	15	to	to	PART
ajfa-989	57	16	affect	affect	VERB
ajfa-989	57	17	each	each	DET
ajfa-989	57	18	other	other	ADJ
ajfa-989	57	19	due	due	ADP
ajfa-989	57	20	to	to	ADP
ajfa-989	57	21	oversimplifying	oversimplify	VERB
ajfa-989	57	22	restrictions	restriction	NOUN
ajfa-989	57	23	.	.	PUNCT
ajfa-989	58	1	many	many	ADJ
ajfa-989	58	2	of	of	ADP
ajfa-989	58	3	these	these	DET
ajfa-989	58	4	problems	problem	NOUN
ajfa-989	58	5	are	be	AUX
ajfa-989	58	6	circumvented	circumvent	VERB
ajfa-989	58	7	by	by	ADP
ajfa-989	58	8	the	the	DET
ajfa-989	58	9	constant	constant	ADJ
ajfa-989	58	10	conditional	conditional	ADJ
ajfa-989	58	11	correlation	correlation	NOUN
ajfa-989	58	12	(	(	PUNCT
ajfa-989	58	13	ccc	ccc	NOUN
ajfa-989	58	14	)	)	PUNCT
ajfa-989	58	15	model	model	NOUN
ajfa-989	58	16	proposed	propose	VERB
ajfa-989	58	17	by	by	ADP
ajfa-989	58	18	bollerslev	bollerslev	ADJ
ajfa-989	58	19	(	(	PUNCT
ajfa-989	58	20	1990	1990	NUM
ajfa-989	58	21	)	)	PUNCT
ajfa-989	58	22	.	.	PUNCT
ajfa-989	59	1	however	however	ADV
ajfa-989	59	2	,	,	PUNCT
ajfa-989	59	3	the	the	DET
ajfa-989	59	4	assumption	assumption	NOUN
ajfa-989	59	5	of	of	ADP
ajfa-989	59	6	constant	constant	ADJ
ajfa-989	59	7	correlation	correlation	NOUN
ajfa-989	59	8	is	be	AUX
ajfa-989	59	9	perhaps	perhaps	ADV
ajfa-989	59	10	relatively	relatively	ADV
ajfa-989	59	11	uncertain	uncertain	ADJ
ajfa-989	59	12	and	and	CCONJ
ajfa-989	59	13	may	may	AUX
ajfa-989	59	14	not	not	PART
ajfa-989	59	15	hold	hold	VERB
ajfa-989	59	16	always	always	ADV
ajfa-989	59	17	.	.	PUNCT
ajfa-989	60	1	for	for	ADP
ajfa-989	60	2	example	example	NOUN
ajfa-989	60	3	,	,	PUNCT
ajfa-989	60	4	prior	prior	ADJ
ajfa-989	60	5	research	research	NOUN
ajfa-989	60	6	has	have	AUX
ajfa-989	60	7	documented	document	VERB
ajfa-989	60	8	high	high	ADJ
ajfa-989	60	9	correlations	correlation	NOUN
ajfa-989	60	10	among	among	ADP
ajfa-989	60	11	financial	financial	ADJ
ajfa-989	60	12	markets	market	NOUN
ajfa-989	60	13	during	during	ADP
ajfa-989	60	14	crisis	crisis	NOUN
ajfa-989	60	15	periods	period	NOUN
ajfa-989	60	16	(	(	PUNCT
ajfa-989	60	17	see	see	VERB
ajfa-989	60	18	,	,	PUNCT
ajfa-989	60	19	e.g.	e.g.	ADV
ajfa-989	60	20	,	,	PUNCT
ajfa-989	60	21	chesnay	chesnay	NOUN
ajfa-989	60	22	and	and	CCONJ
ajfa-989	60	23	jondeau	jondeau	PROPN
ajfa-989	60	24	,	,	PUNCT
ajfa-989	60	25	2001	2001	NUM
ajfa-989	60	26	)	)	PUNCT
ajfa-989	60	27	.	.	PUNCT
ajfa-989	61	1	following	follow	VERB
ajfa-989	61	2	bollerslev	bollerslev	ADJ
ajfa-989	61	3	(	(	PUNCT
ajfa-989	61	4	1990	1990	NUM
ajfa-989	61	5	)	)	PUNCT
ajfa-989	61	6	,	,	PUNCT
ajfa-989	61	7	engle	engle	NOUN
ajfa-989	61	8	and	and	CCONJ
ajfa-989	61	9	sheppard	sheppard	PROPN
ajfa-989	61	10	(	(	PUNCT
ajfa-989	61	11	2001	2001	NUM
ajfa-989	61	12	)	)	PUNCT
ajfa-989	61	13	and	and	CCONJ
ajfa-989	61	14	engle	engle	PROPN
ajfa-989	61	15	(	(	PUNCT
ajfa-989	61	16	2002	2002	NUM
ajfa-989	61	17	)	)	PUNCT
ajfa-989	61	18	,	,	PUNCT
ajfa-989	61	19	this	this	DET
ajfa-989	61	20	empirical	empirical	ADJ
ajfa-989	61	21	specification	specification	NOUN
ajfa-989	61	22	starts	start	VERB
ajfa-989	61	23	with	with	ADP
ajfa-989	61	24	the	the	DET
ajfa-989	61	25	assumption	assumption	NOUN
ajfa-989	61	26	that	that	SCONJ
ajfa-989	61	27	stock	stock	NOUN
ajfa-989	61	28	market	market	NOUN
ajfa-989	61	29	returns	return	NOUN
ajfa-989	61	30	from	from	ADP
ajfa-989	61	31	the	the	DET
ajfa-989	61	32	k	k	PROPN
ajfa-989	61	33	series	series	NOUN
ajfa-989	61	34	are	be	AUX
ajfa-989	61	35	multivariate	multivariate	ADJ
ajfa-989	61	36	and	and	CCONJ
ajfa-989	61	37	normally	normally	ADV
ajfa-989	61	38	distributed	distribute	VERB
ajfa-989	61	39	with	with	ADP
ajfa-989	61	40	zero	zero	NUM
ajfa-989	61	41	mean	mean	ADJ
ajfa-989	61	42	and	and	CCONJ
ajfa-989	61	43	conditional	conditional	ADJ
ajfa-989	61	44	variance	variance	NOUN
ajfa-989	61	45	–	–	PUNCT
ajfa-989	61	46	covariance	covariance	NOUN
ajfa-989	61	47	matrix	matrix	NOUN
ajfa-989	61	48	ht	ht	PROPN
ajfa-989	61	49	.	.	PUNCT
ajfa-989	62	1	hence	hence	ADV
ajfa-989	62	2	,	,	PUNCT
ajfa-989	62	3	this	this	DET
ajfa-989	62	4	multivariate	multivariate	NOUN
ajfa-989	62	5	dcc	dcc	PROPN
ajfa-989	62	6	-	-	PUNCT
ajfa-989	62	7	garch	garch	NOUN
ajfa-989	62	8	model	model	NOUN
ajfa-989	62	9	can	can	AUX
ajfa-989	62	10	be	be	AUX
ajfa-989	62	11	presented	present	VERB
ajfa-989	62	12	as	as	SCONJ
ajfa-989	62	13	follows	follow	VERB
ajfa-989	62	14	:	:	PUNCT
ajfa-989	63	1	tttr	tttr	NOUN
ajfa-989	63	2			NOUN
ajfa-989	63	3			ADV
ajfa-989	63	4	(	(	PUNCT
ajfa-989	63	5	1	1	NUM
ajfa-989	63	6	)	)	PUNCT
ajfa-989	63	7	with	with	ADP
ajfa-989	63	8	)	)	PUNCT
ajfa-989	63	9	,	,	PUNCT
ajfa-989	63	10	0(|	0(|	ADJ
ajfa-989	63	11	1	1	NUM
ajfa-989	63	12	ttt	ttt	NOUN
ajfa-989	63	13	hn	hn	PROPN
ajfa-989	63	14			ADJ
ajfa-989	63	15	where	where	SCONJ
ajfa-989	63	16	,	,	PUNCT
ajfa-989	63	17	rt	rt	PROPN
ajfa-989	63	18	is	be	AUX
ajfa-989	63	19	the	the	DET
ajfa-989	63	20	(	(	PUNCT
ajfa-989	63	21	k×1	k×1	NOUN
ajfa-989	63	22	)	)	PUNCT
ajfa-989	63	23	vector	vector	NOUN
ajfa-989	63	24	of	of	ADP
ajfa-989	63	25	the	the	DET
ajfa-989	63	26	returns	return	NOUN
ajfa-989	63	27	;	;	PUNCT
ajfa-989	63	28	εt	εt	PROPN
ajfa-989	63	29	is	be	AUX
ajfa-989	63	30	a	a	DET
ajfa-989	63	31	(	(	PUNCT
ajfa-989	63	32	k×1	k×1	NOUN
ajfa-989	63	33	)	)	PUNCT
ajfa-989	63	34	vector	vector	NOUN
ajfa-989	63	35	of	of	ADP
ajfa-989	63	36	zero	zero	NUM
ajfa-989	63	37	mean	mean	NOUN
ajfa-989	63	38	return	return	NOUN
ajfa-989	63	39	innovations	innovation	NOUN
ajfa-989	63	40	conditional	conditional	ADJ
ajfa-989	63	41	on	on	ADP
ajfa-989	63	42	the	the	DET
ajfa-989	63	43	information	information	NOUN
ajfa-989	63	44	,	,	PUNCT
ajfa-989	63	45	1t	1t	NUM
ajfa-989	63	46	,	,	PUNCT
ajfa-989	63	47	available	available	ADJ
ajfa-989	63	48	at	at	ADP
ajfa-989	63	49	time	time	NOUN
ajfa-989	63	50	t-1and	t-1and	NOUN
ajfa-989	63	51	for	for	ADP
ajfa-989	63	52	the	the	DET
ajfa-989	63	53	bi	bi	ADJ
ajfa-989	63	54	-	-	ADJ
ajfa-989	63	55	variate	variate	ADJ
ajfa-989	63	56	case	case	NOUN
ajfa-989	63	57	,	,	PUNCT
ajfa-989	63	58	the	the	DET
ajfa-989	63	59	conditional	conditional	ADJ
ajfa-989	63	60	variance	variance	NOUN
ajfa-989	63	61	–	–	PUNCT
ajfa-989	63	62	covariance	covariance	NOUN
ajfa-989	63	63	matrix	matrix	NOUN
ajfa-989	63	64	(	(	PUNCT
ajfa-989	63	65	ht	ht	NOUN
ajfa-989	63	66	)	)	PUNCT
ajfa-989	63	67	in	in	ADP
ajfa-989	63	68	the	the	DET
ajfa-989	63	69	dcc	dcc	PROPN
ajfa-989	63	70	model	model	NOUN
ajfa-989	63	71	can	can	AUX
ajfa-989	63	72	be	be	AUX
ajfa-989	63	73	expressed	express	VERB
ajfa-989	63	74	as	as	ADP
ajfa-989	63	75	:	:	PUNCT
ajfa-989	63	76	,	,	PUNCT
ajfa-989	63	77	tttt	tttt	INTJ
ajfa-989	63	78	drdh	drdh	VERB
ajfa-989	63	79			PROPN
ajfa-989	63	80	(	(	PUNCT
ajfa-989	63	81	2	2	NUM
ajfa-989	63	82	)	)	PUNCT
ajfa-989	63	83	here	here	ADV
ajfa-989	63	84	d	d	PART
ajfa-989	63	85	represents	represent	VERB
ajfa-989	63	86	a	a	DET
ajfa-989	63	87	(	(	PUNCT
ajfa-989	63	88	k×k	k×k	PROPN
ajfa-989	63	89	)	)	PUNCT
ajfa-989	63	90	diagonal	diagonal	ADJ
ajfa-989	63	91	matrix	matrix	NOUN
ajfa-989	63	92	of	of	ADP
ajfa-989	63	93	the	the	DET
ajfa-989	63	94	conditional	conditional	ADJ
ajfa-989	63	95	volatility	volatility	NOUN
ajfa-989	63	96	of	of	ADP
ajfa-989	63	97	the	the	DET
ajfa-989	63	98	returns	return	NOUN
ajfa-989	63	99	on	on	ADP
ajfa-989	63	100	each	each	DET
ajfa-989	63	101	asset	asset	NOUN
ajfa-989	63	102	in	in	ADP
ajfa-989	63	103	the	the	DET
ajfa-989	63	104	sample	sample	NOUN
ajfa-989	63	105	and	and	CCONJ
ajfa-989	63	106	rt	rt	PROPN
ajfa-989	63	107	is	be	AUX
ajfa-989	63	108	the	the	DET
ajfa-989	63	109	(	(	PUNCT
ajfa-989	63	110	k×k	k×k	PROPN
ajfa-989	63	111	)	)	PUNCT
ajfa-989	63	112	conditional	conditional	ADJ
ajfa-989	63	113	correlation	correlation	NOUN
ajfa-989	63	114	matrix	matrix	NOUN
ajfa-989	63	115	.	.	PUNCT
ajfa-989	64	1	basically	basically	ADV
ajfa-989	64	2	,	,	PUNCT
ajfa-989	64	3	the	the	DET
ajfa-989	64	4	dcc	dcc	PROPN
ajfa-989	64	5	-	-	PUNCT
ajfa-989	64	6	garch	garch	NOUN
ajfa-989	64	7	model	model	NOUN
ajfa-989	64	8	estimates	estimate	VERB
ajfa-989	64	9	conditional	conditional	ADJ
ajfa-989	64	10	volatilities	volatility	NOUN
ajfa-989	64	11	and	and	CCONJ
ajfa-989	64	12	correlations	correlation	NOUN
ajfa-989	64	13	in	in	ADP
ajfa-989	64	14	two	two	NUM
ajfa-989	64	15	steps	step	NOUN
ajfa-989	64	16	.	.	PUNCT
ajfa-989	65	1	in	in	ADP
ajfa-989	65	2	the	the	DET
ajfa-989	65	3	first	first	ADJ
ajfa-989	65	4	step	step	NOUN
ajfa-989	65	5	the	the	DET
ajfa-989	65	6	mean	mean	ADJ
ajfa-989	65	7	equation	equation	NOUN
ajfa-989	65	8	of	of	ADP
ajfa-989	65	9	each	each	DET
ajfa-989	65	10	asset	asset	NOUN
ajfa-989	65	11	in	in	ADP
ajfa-989	65	12	the	the	DET
ajfa-989	65	13	sample	sample	NOUN
ajfa-989	65	14	,	,	PUNCT
ajfa-989	65	15	nested	nest	VERB
ajfa-989	65	16	in	in	ADP
ajfa-989	65	17	a	a	DET
ajfa-989	65	18	univariate	univariate	ADJ
ajfa-989	65	19	garch	garch	NOUN
ajfa-989	65	20	model	model	NOUN
ajfa-989	65	21	of	of	ADP
ajfa-989	65	22	its	its	PRON
ajfa-989	65	23	conditional	conditional	ADJ
ajfa-989	65	24	variance	variance	NOUN
ajfa-989	65	25	is	be	AUX
ajfa-989	65	26	estimated	estimate	VERB
ajfa-989	65	27	.	.	PUNCT
ajfa-989	66	1	hence	hence	ADV
ajfa-989	66	2	,	,	PUNCT
ajfa-989	66	3	we	we	PRON
ajfa-989	66	4	can	can	AUX
ajfa-989	66	5	define	define	VERB
ajfa-989	66	6	dt	dt	PROPN
ajfa-989	66	7	as	as	SCONJ
ajfa-989	66	8	follows	follow	VERB
ajfa-989	66	9	:	:	PUNCT
ajfa-989	66	10	)	)	PUNCT
ajfa-989	66	11	,	,	PUNCT
ajfa-989	66	12	.......	.......	PUNCT
ajfa-989	67	1	(	(	PUNCT
ajfa-989	67	2	2/12/1	2/12/1	NOUN
ajfa-989	67	3	kktiitt	kktiitt	PROPN
ajfa-989	67	4	hhdiagd	hhdiagd	PROPN
ajfa-989	67	5			PROPN
ajfa-989	67	6	(	(	PUNCT
ajfa-989	67	7	3	3	NUM
ajfa-989	67	8	)	)	PUNCT
ajfa-989	67	9	where	where	SCONJ
ajfa-989	67	10	hiit	hiit	NOUN
ajfa-989	67	11	,	,	PUNCT
ajfa-989	67	12	conditional	conditional	ADJ
ajfa-989	67	13	variance	variance	NOUN
ajfa-989	67	14	of	of	ADP
ajfa-989	67	15	each	each	DET
ajfa-989	67	16	asset	asset	NOUN
ajfa-989	67	17	is	be	AUX
ajfa-989	67	18	assumed	assume	VERB
ajfa-989	67	19	to	to	PART
ajfa-989	67	20	follow	follow	VERB
ajfa-989	67	21	a	a	DET
ajfa-989	67	22	univariate	univariate	ADJ
ajfa-989	67	23	garch(p	garch(p	PROPN
ajfa-989	67	24	,	,	PUNCT
ajfa-989	67	25	q	q	NOUN
ajfa-989	67	26	)	)	PUNCT
ajfa-989	67	27	process	process	NOUN
ajfa-989	67	28	given	give	VERB
ajfa-989	67	29	by	by	ADP
ajfa-989	67	30	the	the	DET
ajfa-989	67	31	following	follow	VERB
ajfa-989	67	32	expression	expression	NOUN
ajfa-989	67	33	:	:	PUNCT
ajfa-989	67	34	asian	asian	ADJ
ajfa-989	67	35	journal	journal	NOUN
ajfa-989	67	36	of	of	ADP
ajfa-989	67	37	finance	finance	PROPN
ajfa-989	67	38	&	&	CCONJ
ajfa-989	67	39	accounting	accounting	PROPN
ajfa-989	67	40	issn	issn	PROPN
ajfa-989	67	41	1946	1946	NUM
ajfa-989	67	42	-	-	PUNCT
ajfa-989	67	43	052x	052x	NOUN
ajfa-989	67	44	2011	2011	NUM
ajfa-989	67	45	,	,	PUNCT
ajfa-989	67	46	vol	vol	NOUN
ajfa-989	67	47	.	.	PROPN
ajfa-989	68	1	3	3	NUM
ajfa-989	68	2	,	,	PUNCT
ajfa-989	68	3	no	no	INTJ
ajfa-989	68	4	.	.	NOUN
ajfa-989	68	5	1	1	NUM
ajfa-989	68	6	:	:	PUNCT
ajfa-989	68	7	e5	e5	PROPN
ajfa-989	68	8	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-989	68	9	76	76	NUM
ajfa-989	68	10	,	,	PUNCT
ajfa-989	68	11	1	1	NUM
ajfa-989	68	12	,	,	PUNCT
ajfa-989	68	13	,	,	PUNCT
ajfa-989	68	14	1	1	NUM
ajfa-989	68	15	2	2	NUM
ajfa-989	68	16	1,,1	1,,1	NUM
ajfa-989	68	17	,	,	PUNCT
ajfa-989	68	18			PRON
ajfa-989	68	19			NUM
ajfa-989	68	20			NOUN
ajfa-989	68	21			NUM
ajfa-989	68	22			NOUN
ajfa-989	68	23			PUNCT
ajfa-989	68	24	qi	qi	PROPN
ajfa-989	68	25	q	q	PROPN
ajfa-989	68	26	ptiqi	ptiqi	NOUN
ajfa-989	69	1	pi	pi	NOUN
ajfa-989	69	2	p	p	NOUN
ajfa-989	69	3	ptipiiti	ptipiiti	NOUN
ajfa-989	70	1	hh	hh	VERB
ajfa-989	70	2			X
ajfa-989	70	3	(	(	PUNCT
ajfa-989	70	4	4	4	NUM
ajfa-989	70	5	)	)	PUNCT
ajfa-989	70	6	however	however	ADV
ajfa-989	70	7	,	,	PUNCT
ajfa-989	70	8	to	to	PART
ajfa-989	70	9	insure	insure	VERB
ajfa-989	70	10	non	non	ADJ
ajfa-989	70	11	-	-	ADJ
ajfa-989	70	12	negativity	negativity	ADJ
ajfa-989	70	13	and	and	CCONJ
ajfa-989	70	14	stationarity	stationarity	NOUN
ajfa-989	70	15	,	,	PUNCT
ajfa-989	70	16	some	some	DET
ajfa-989	70	17	restrictions	restriction	NOUN
ajfa-989	70	18	,	,	PUNCT
ajfa-989	70	19	such	such	ADJ
ajfa-989	70	20	as	as	ADP
ajfa-989	70	21	,	,	PUNCT
ajfa-989	70	22	pi,	pi,	NOUN
ajfa-989	70	23	>	>	X
ajfa-989	70	24	0	0	PROPN
ajfa-989	70	25	,	,	PUNCT
ajfa-989	70	26	qi,	qi,	ADV
ajfa-989	70	27	>	>	X
ajfa-989	70	28	0	0	PUNCT
ajfa-989	71	1	and	and	CCONJ
ajfa-989	71	2			X
ajfa-989	72	1			NUM
ajfa-989	72	2	pi	pi	NOUN
ajfa-989	72	3	p	p	NOUN
ajfa-989	72	4	pi	pi	NOUN
ajfa-989	72	5	1	1	NUM
ajfa-989	72	6	,	,	PUNCT
ajfa-989	72	7			X
ajfa-989	72	8	+	+	CCONJ
ajfa-989	72	9			NUM
ajfa-989	72	10			NUM
ajfa-989	72	11	qi	qi	PROPN
ajfa-989	72	12	q	q	PROPN
ajfa-989	72	13	qi	qi	PROPN
ajfa-989	72	14	1	1	NUM
ajfa-989	72	15	,	,	PUNCT
ajfa-989	72	16			PROPN
ajfa-989	72	17			PROPN
ajfa-989	72	18	1	1	NUM
ajfa-989	72	19	should	should	AUX
ajfa-989	72	20	be	be	AUX
ajfa-989	72	21	imposed	impose	VERB
ajfa-989	72	22	.	.	PUNCT
ajfa-989	73	1	these	these	DET
ajfa-989	73	2	univariate	univariate	ADJ
ajfa-989	73	3	variance	variance	NOUN
ajfa-989	73	4	estimates	estimate	NOUN
ajfa-989	73	5	are	be	AUX
ajfa-989	73	6	then	then	ADV
ajfa-989	73	7	used	use	VERB
ajfa-989	73	8	to	to	PART
ajfa-989	73	9	standardize	standardize	VERB
ajfa-989	73	10	the	the	DET
ajfa-989	73	11	zero	zero	NUM
ajfa-989	73	12	mean	mean	NOUN
ajfa-989	73	13	return	return	NOUN
ajfa-989	73	14	innovations	innovation	NOUN
ajfa-989	73	15	for	for	ADP
ajfa-989	73	16	each	each	DET
ajfa-989	73	17	asset	asset	NOUN
ajfa-989	73	18	.	.	PUNCT
ajfa-989	74	1	in	in	ADP
ajfa-989	74	2	the	the	DET
ajfa-989	74	3	second	second	ADJ
ajfa-989	74	4	step	step	NOUN
ajfa-989	74	5	,	,	PUNCT
ajfa-989	74	6	the	the	DET
ajfa-989	74	7	standardized	standardized	ADJ
ajfa-989	74	8	zero	zero	NUM
ajfa-989	74	9	mean	mean	NOUN
ajfa-989	74	10	return	return	NOUN
ajfa-989	74	11	innovations	innovation	NOUN
ajfa-989	74	12	are	be	AUX
ajfa-989	74	13	assumed	assume	VERB
ajfa-989	74	14	to	to	PART
ajfa-989	74	15	follow	follow	VERB
ajfa-989	74	16	a	a	DET
ajfa-989	74	17	multivariate	multivariate	NOUN
ajfa-989	74	18	garch	garch	NOUN
ajfa-989	74	19	(	(	PUNCT
ajfa-989	74	20	m	m	PROPN
ajfa-989	74	21	,	,	PUNCT
ajfa-989	74	22	n	n	CCONJ
ajfa-989	74	23	)	)	PUNCT
ajfa-989	74	24	process	process	NOUN
ajfa-989	74	25	to	to	PART
ajfa-989	74	26	illustrate	illustrate	VERB
ajfa-989	74	27	the	the	DET
ajfa-989	74	28	development	development	NOUN
ajfa-989	74	29	of	of	ADP
ajfa-989	74	30	the	the	DET
ajfa-989	74	31	time	time	NOUN
ajfa-989	74	32	varying	vary	VERB
ajfa-989	74	33	correlation	correlation	NOUN
ajfa-989	74	34	matrix	matrix	NOUN
ajfa-989	74	35	,	,	PUNCT
ajfa-989	74	36	r	r	NOUN
ajfa-989	74	37	,	,	PUNCT
ajfa-989	74	38	which	which	PRON
ajfa-989	74	39	can	can	AUX
ajfa-989	74	40	be	be	AUX
ajfa-989	74	41	described	describe	VERB
ajfa-989	74	42	as	as	ADP
ajfa-989	74	43	follows	follow	VERB
ajfa-989	74	44	:	:	PUNCT
ajfa-989	74	45	,	,	PUNCT
ajfa-989	74	46	)	)	PUNCT
ajfa-989	74	47	(	(	PUNCT
ajfa-989	74	48	)	)	PUNCT
ajfa-989	74	49	(	(	PUNCT
ajfa-989	74	50	2/12/1	2/12/1	NUM
ajfa-989	74	51			NUM
ajfa-989	74	52	tttt	tttt	NOUN
ajfa-989	74	53	diagqqdiagqr	diagqqdiagqr	VERB
ajfa-989	74	54	(	(	PUNCT
ajfa-989	74	55	5	5	NUM
ajfa-989	74	56	)	)	PUNCT
ajfa-989	74	57	where	where	SCONJ
ajfa-989	74	58	111	111	NUM
ajfa-989	74	59	'	'	NUM
ajfa-989	74	60	)	)	PUNCT
ajfa-989	74	61	1	1	NUM
ajfa-989	74	62	(	(	PUNCT
ajfa-989	74	63			NOUN
ajfa-989	74	64			PROPN
ajfa-989	74	65	tttt	tttt	PROPN
ajfa-989	74	66	qqq	qqq	PROPN
ajfa-989	74	67			PROPN
ajfa-989	74	68	refers	refer	VERB
ajfa-989	74	69	to	to	ADP
ajfa-989	74	70	a	a	DET
ajfa-989	74	71	(	(	PUNCT
ajfa-989	74	72	k×k	k×k	PROPN
ajfa-989	74	73	)	)	PUNCT
ajfa-989	74	74	symmetric	symmetric	ADJ
ajfa-989	74	75	positive	positive	ADJ
ajfa-989	74	76	definite	definite	ADJ
ajfa-989	74	77	matrix	matrix	NOUN
ajfa-989	74	78	and	and	CCONJ
ajfa-989	74	79	iititit	iititit	NOUN
ajfa-989	74	80	h/	h/	PROPN
ajfa-989	75	1			NOUN
ajfa-989	75	2	,	,	PUNCT
ajfa-989	75	3	q	q	X
ajfa-989	75	4	is	be	AUX
ajfa-989	75	5	the	the	DET
ajfa-989	75	6	(	(	PUNCT
ajfa-989	75	7	k×k	k×k	PROPN
ajfa-989	75	8	)	)	PUNCT
ajfa-989	75	9	unconditional	unconditional	ADJ
ajfa-989	75	10	variance	variance	NOUN
ajfa-989	75	11	matrix	matrix	NOUN
ajfa-989	75	12	of	of	ADP
ajfa-989	75	13	it	it	NOUN
ajfa-989	75	14	,	,	PUNCT
ajfa-989	75	15	and	and	CCONJ
ajfa-989	75	16	α	α	NOUN
ajfa-989	75	17	and	and	CCONJ
ajfa-989	75	18	β	β	PROPN
ajfa-989	75	19	are	be	AUX
ajfa-989	75	20	non	non	ADJ
ajfa-989	75	21	-	-	ADJ
ajfa-989	75	22	negative	negative	ADJ
ajfa-989	75	23	scalar	scalar	ADJ
ajfa-989	75	24	parameters	parameter	NOUN
ajfa-989	75	25	satisfying	satisfy	VERB
ajfa-989	75	26	α	α	NOUN
ajfa-989	75	27	+	+	X
ajfa-989	75	28	β	β	X
ajfa-989	75	29	<	<	X
ajfa-989	75	30	1	1	NUM
ajfa-989	75	31	.	.	PUNCT
ajfa-989	76	1	finally	finally	ADV
ajfa-989	76	2	,	,	PUNCT
ajfa-989	76	3	the	the	DET
ajfa-989	76	4	conditional	conditional	ADJ
ajfa-989	76	5	correlation	correlation	NOUN
ajfa-989	76	6	coefficient	coefficient	NOUN
ajfa-989	76	7	ij	ij	NOUN
ajfa-989	76	8	between	between	ADP
ajfa-989	76	9	two	two	NUM
ajfa-989	76	10	assets	asset	NOUN
ajfa-989	76	11	i	i	PRON
ajfa-989	76	12	and	and	CCONJ
ajfa-989	76	13	j	j	PROPN
ajfa-989	76	14	is	be	AUX
ajfa-989	76	15	then	then	ADV
ajfa-989	76	16	expressed	express	VERB
ajfa-989	76	17	by	by	ADP
ajfa-989	76	18	the	the	DET
ajfa-989	76	19	following	follow	VERB
ajfa-989	76	20	equation	equation	NOUN
ajfa-989	76	21	:	:	PUNCT
ajfa-989	76	22	,	,	PUNCT
ajfa-989	76	23	)	)	PUNCT
ajfa-989	76	24	1()1	1()1	NUM
ajfa-989	76	25	(	(	PUNCT
ajfa-989	76	26	)	)	PUNCT
ajfa-989	76	27	1	1	NUM
ajfa-989	76	28	(	(	PUNCT
ajfa-989	76	29	2/1	2/1	NUM
ajfa-989	76	30	1	1	NUM
ajfa-989	76	31	,	,	PUNCT
ajfa-989	76	32	2	2	NUM
ajfa-989	76	33	1	1	NUM
ajfa-989	76	34	,	,	PUNCT
ajfa-989	76	35	2/1	2/1	NUM
ajfa-989	76	36	1	1	NUM
ajfa-989	76	37	,	,	PUNCT
ajfa-989	76	38	2	2	NUM
ajfa-989	76	39	1	1	NUM
ajfa-989	76	40	,	,	PUNCT
ajfa-989	76	41	1,1,1	1,1,1	NUM
ajfa-989	76	42	,	,	PUNCT
ajfa-989	76	43			NOUN
ajfa-989	76	44			NUM
ajfa-989	76	45			AUX
ajfa-989	76	46			PROPN
ajfa-989	76	47			NUM
ajfa-989	76	48	tjjtjjjtiitiii	tjjtjjjtiitiii	INTJ
ajfa-989	76	49	tijtjtiij	tijtjtiij	INTJ
ajfa-989	76	50	ij	ij	PROPN
ajfa-989	76	51	qqqq	qqqq	PROPN
ajfa-989	76	52	qq	qq	PROPN
ajfa-989	76	53			PROPN
ajfa-989	76	54			PROPN
ajfa-989	76	55			ADP
ajfa-989	76	56	(	(	PUNCT
ajfa-989	76	57	6	6	NUM
ajfa-989	76	58	)	)	PUNCT
ajfa-989	76	59	as	as	ADP
ajfa-989	76	60	per	per	ADP
ajfa-989	76	61	engle	engle	NOUN
ajfa-989	76	62	and	and	CCONJ
ajfa-989	76	63	sheppard	sheppard	PROPN
ajfa-989	76	64	(	(	PUNCT
ajfa-989	76	65	2001	2001	NUM
ajfa-989	76	66	)	)	PUNCT
ajfa-989	76	67	and	and	CCONJ
ajfa-989	76	68	engle	engle	PROPN
ajfa-989	76	69	(	(	PUNCT
ajfa-989	76	70	2002	2002	NUM
ajfa-989	76	71	)	)	PUNCT
ajfa-989	76	72	this	this	DET
ajfa-989	76	73	model	model	NOUN
ajfa-989	76	74	can	can	AUX
ajfa-989	76	75	be	be	AUX
ajfa-989	76	76	estimated	estimate	VERB
ajfa-989	76	77	with	with	ADP
ajfa-989	76	78	the	the	DET
ajfa-989	76	79	quasi	quasi	ADJ
ajfa-989	76	80	-	-	ADJ
ajfa-989	76	81	maximum	maximum	ADJ
ajfa-989	76	82	likelihood	likelihood	NOUN
ajfa-989	76	83	method	method	NOUN
ajfa-989	76	84	(	(	PUNCT
ajfa-989	76	85	qmle	qmle	NOUN
ajfa-989	76	86	)	)	PUNCT
ajfa-989	76	87	given	give	VERB
ajfa-989	76	88	below	below	ADP
ajfa-989	76	89	:	:	PUNCT
ajfa-989	76	90	)	)	PUNCT
ajfa-989	76	91	,	,	PUNCT
ajfa-989	76	92	'	'	PUNCT
ajfa-989	76	93	loglog2)2log	loglog2)2log	X
ajfa-989	76	94	(	(	PUNCT
ajfa-989	76	95	(	(	PUNCT
ajfa-989	76	96	2	2	NUM
ajfa-989	76	97	1	1	NUM
ajfa-989	76	98	1	1	NUM
ajfa-989	76	99	1	1	NUM
ajfa-989	76	100	tttt	tttt	NOUN
ajfa-989	76	101	t	t	PROPN
ajfa-989	76	102	t	t	PROPN
ajfa-989	76	103	t	t	PROPN
ajfa-989	76	104	rrdnl	rrdnl	PROPN
ajfa-989	76	105			PROPN
ajfa-989	76	106			PROPN
ajfa-989	76	107			PROPN
ajfa-989	76	108			NUM
ajfa-989	76	109			X
ajfa-989	76	110	(	(	PUNCT
ajfa-989	76	111	7	7	X
ajfa-989	76	112	)	)	PUNCT
ajfa-989	76	113	since	since	SCONJ
ajfa-989	76	114	ttttt	ttttt	NOUN
ajfa-989	76	115	dh	dh	PROPN
ajfa-989	76	116			PROPN
ajfa-989	76	117	1/	1/	NUM
ajfa-989	76	118			NUM
ajfa-989	76	119	the	the	DET
ajfa-989	76	120	log	log	NOUN
ajfa-989	76	121	-	-	PUNCT
ajfa-989	76	122	likelihood	likelihood	NOUN
ajfa-989	76	123	function	function	NOUN
ajfa-989	76	124	can	can	AUX
ajfa-989	76	125	be	be	AUX
ajfa-989	76	126	rewritten	rewrite	VERB
ajfa-989	76	127	as	as	SCONJ
ajfa-989	76	128	follows	follow	VERB
ajfa-989	76	129	:	:	PUNCT
ajfa-989	76	130	)	)	PUNCT
ajfa-989	76	131	,	,	PUNCT
ajfa-989	76	132	'	'	PUNCT
ajfa-989	76	133	log2)2log	log2)2log	X
ajfa-989	76	134	(	(	PUNCT
ajfa-989	76	135	(	(	PUNCT
ajfa-989	76	136	2	2	NUM
ajfa-989	76	137	1	1	NUM
ajfa-989	76	138	111	111	NUM
ajfa-989	76	139	1	1	NUM
ajfa-989	76	140	ttttt	ttttt	NOUN
ajfa-989	76	141	t	t	PROPN
ajfa-989	76	142	t	t	PROPN
ajfa-989	76	143	ttt	ttt	PROPN
ajfa-989	76	144	drddrdnl	drddrdnl	PROPN
ajfa-989	76	145			VERB
ajfa-989	76	146			NOUN
ajfa-989	76	147			PROPN
ajfa-989	76	148			PROPN
ajfa-989	76	149			X
ajfa-989	76	150	(	(	PUNCT
ajfa-989	76	151	8)	8)	NUM
ajfa-989	76	152	as	as	SCONJ
ajfa-989	76	153	the	the	DET
ajfa-989	76	154	dcc	dcc	PROPN
ajfa-989	76	155	model	model	NOUN
ajfa-989	76	156	does	do	AUX
ajfa-989	76	157	not	not	PART
ajfa-989	76	158	allow	allow	VERB
ajfa-989	76	159	for	for	ADP
ajfa-989	76	160	asymmetries	asymmetry	NOUN
ajfa-989	76	161	and	and	CCONJ
ajfa-989	76	162	asset	asset	NOUN
ajfa-989	76	163	specific	specific	ADJ
ajfa-989	76	164	news	news	NOUN
ajfa-989	76	165	impact	impact	NOUN
ajfa-989	76	166	parameter	parameter	NOUN
ajfa-989	76	167	,	,	PUNCT
ajfa-989	76	168	the	the	DET
ajfa-989	76	169	modified	modified	ADJ
ajfa-989	76	170	model	model	NOUN
ajfa-989	76	171	of	of	ADP
ajfa-989	76	172	cappiello	cappiello	PROPN
ajfa-989	76	173	et	et	PROPN
ajfa-989	76	174	al	al	PROPN
ajfa-989	76	175	.	.	PROPN
ajfa-989	77	1	(	(	PUNCT
ajfa-989	77	2	2006	2006	NUM
ajfa-989	77	3	)	)	PUNCT
ajfa-989	77	4	for	for	ADP
ajfa-989	77	5	incorporating	incorporate	VERB
ajfa-989	77	6	the	the	DET
ajfa-989	77	7	asymmetrical	asymmetrical	ADJ
ajfa-989	77	8	effect	effect	NOUN
ajfa-989	77	9	and	and	CCONJ
ajfa-989	77	10	asset	asset	NOUN
ajfa-989	77	11	specific	specific	ADJ
ajfa-989	77	12	news	news	NOUN
ajfa-989	77	13	impact	impact	NOUN
ajfa-989	77	14	can	can	AUX
ajfa-989	77	15	be	be	AUX
ajfa-989	77	16	written	write	VERB
ajfa-989	77	17	as	as	ADP
ajfa-989	77	18	:	:	PUNCT
ajfa-989	77	19	asian	asian	ADJ
ajfa-989	77	20	journal	journal	NOUN
ajfa-989	77	21	of	of	ADP
ajfa-989	77	22	finance	finance	PROPN
ajfa-989	77	23	&	&	CCONJ
ajfa-989	77	24	accounting	accounting	PROPN
ajfa-989	77	25	issn	issn	PROPN
ajfa-989	77	26	1946	1946	NUM
ajfa-989	77	27	-	-	PUNCT
ajfa-989	77	28	052x	052x	NOUN
ajfa-989	77	29	2011	2011	NUM
ajfa-989	77	30	,	,	PUNCT
ajfa-989	77	31	vol	vol	NOUN
ajfa-989	77	32	.	.	PROPN
ajfa-989	78	1	3	3	NUM
ajfa-989	78	2	,	,	PUNCT
ajfa-989	78	3	no	no	INTJ
ajfa-989	78	4	.	.	NOUN
ajfa-989	78	5	1	1	NUM
ajfa-989	78	6	:	:	PUNCT
ajfa-989	78	7	e5	e5	PROPN
ajfa-989	78	8	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-989	78	9	77	77	NUM
ajfa-989	78	10	,	,	PUNCT
ajfa-989	78	11	)	)	PUNCT
ajfa-989	78	12	(	(	PUNCT
ajfa-989	78	13	11111	11111	NUM
ajfa-989	78	14	gnngbqbaagngbqbaqaqq	gnngbqbaagngbqbaqaqq	NOUN
ajfa-989	78	15	tttttt	tttttt	NOUN
ajfa-989	78	16			PROPN
ajfa-989	78	17			VERB
ajfa-989	78	18			PROPN
ajfa-989	78	19	(	(	PUNCT
ajfa-989	78	20	9	9	NUM
ajfa-989	78	21	)	)	PUNCT
ajfa-989	78	22	where	where	SCONJ
ajfa-989	78	23	a	a	DET
ajfa-989	78	24	,	,	PUNCT
ajfa-989	78	25	b	b	NOUN
ajfa-989	78	26	and	and	CCONJ
ajfa-989	78	27	g	g	PROPN
ajfa-989	78	28	are	be	AUX
ajfa-989	78	29	diagonal	diagonal	ADJ
ajfa-989	78	30	parameter	parameter	NOUN
ajfa-989	78	31	matrixes	matrix	NOUN
ajfa-989	78	32	,	,	PUNCT
ajfa-989	78	33	nt	not	PART
ajfa-989	78	34	=	=	SYM
ajfa-989	79	1	i[εt	i[εt	ADJ
ajfa-989	79	2	<	<	X
ajfa-989	79	3	0]o	0]o	NOUN
ajfa-989	80	1	εt	εt	INTJ
ajfa-989	80	2	(	(	PUNCT
ajfa-989	80	3	with	with	ADP
ajfa-989	80	4	o	o	NOUN
ajfa-989	80	5	indicating	indicate	VERB
ajfa-989	80	6	hadamard	hadamard	ADJ
ajfa-989	80	7	product	product	NOUN
ajfa-989	80	8	)	)	PUNCT
ajfa-989	80	9	,	,	PUNCT
ajfa-989	80	10			ADJ
ajfa-989	80	11	tt	tt	PROPN
ajfa-989	80	12	nnen	nnen	PROPN
ajfa-989	80	13			PROPN
ajfa-989	80	14	.	.	PUNCT
ajfa-989	81	1	for	for	ADP
ajfa-989	81	2	q	q	PROPN
ajfa-989	81	3	and	and	CCONJ
ajfa-989	81	4	n	n	PRON
ajfa-989	81	5	expectations	expectation	NOUN
ajfa-989	81	6	are	be	AUX
ajfa-989	81	7	infeasible	infeasible	ADJ
ajfa-989	81	8	and	and	CCONJ
ajfa-989	81	9	are	be	AUX
ajfa-989	81	10	replaced	replace	VERB
ajfa-989	81	11	with	with	ADP
ajfa-989	81	12	sample	sample	NOUN
ajfa-989	81	13	analogues	analogue	NOUN
ajfa-989	81	14	,	,	PUNCT
ajfa-989	81	15			X
ajfa-989	81	16			VERB
ajfa-989	81	17			PROPN
ajfa-989	81	18	t	t	CCONJ
ajfa-989	81	19	t	t	PROPN
ajfa-989	81	20	ttt	ttt	PROPN
ajfa-989	81	21	1	1	NUM
ajfa-989	81	22	1	1	NUM
ajfa-989	81	23			NOUN
ajfa-989	81	24	and	and	CCONJ
ajfa-989	81	25			VERB
ajfa-989	81	26			VERB
ajfa-989	81	27			PROPN
ajfa-989	81	28	t	t	CCONJ
ajfa-989	81	29	t	t	PROPN
ajfa-989	81	30	tt	tt	PROPN
ajfa-989	81	31	nnt	nnt	PROPN
ajfa-989	81	32	1	1	NUM
ajfa-989	81	33	1	1	NUM
ajfa-989	81	34	,	,	PUNCT
ajfa-989	81	35	respectively	respectively	ADV
ajfa-989	81	36	.	.	PUNCT
ajfa-989	82	1	3	3	X
ajfa-989	82	2	.	.	X
ajfa-989	82	3	data	datum	NOUN
ajfa-989	82	4	and	and	CCONJ
ajfa-989	82	5	descriptive	descriptive	ADJ
ajfa-989	82	6	statistics	statistic	NOUN
ajfa-989	82	7	daily	daily	ADJ
ajfa-989	82	8	total	total	ADJ
ajfa-989	82	9	return	return	NOUN
ajfa-989	82	10	indices	index	NOUN
ajfa-989	82	11	for	for	ADP
ajfa-989	82	12	the	the	DET
ajfa-989	82	13	russian	russian	ADJ
ajfa-989	82	14	market	market	NOUN
ajfa-989	82	15	calculated	calculate	VERB
ajfa-989	82	16	by	by	ADP
ajfa-989	82	17	datastream	datastream	NOUN
ajfa-989	82	18	are	be	AUX
ajfa-989	82	19	used	use	VERB
ajfa-989	82	20	as	as	ADP
ajfa-989	82	21	proxy	proxy	NOUN
ajfa-989	82	22	for	for	ADP
ajfa-989	82	23	russian	russian	ADJ
ajfa-989	82	24	stocks1	stocks1	PROPN
ajfa-989	82	25	.	.	PUNCT
ajfa-989	83	1	the	the	DET
ajfa-989	83	2	jp	jp	PROPN
ajfa-989	83	3	morgan	morgan	PROPN
ajfa-989	83	4	embi	embi	PROPN
ajfa-989	83	5	russia	russia	PROPN
ajfa-989	83	6	index	index	PROPN
ajfa-989	83	7	(	(	PUNCT
ajfa-989	83	8	proxy	proxy	NOUN
ajfa-989	83	9	for	for	ADP
ajfa-989	83	10	russian	russian	ADJ
ajfa-989	83	11	bond	bond	NOUN
ajfa-989	83	12	market	market	NOUN
ajfa-989	83	13	)	)	PUNCT
ajfa-989	83	14	is	be	AUX
ajfa-989	83	15	used	use	VERB
ajfa-989	83	16	to	to	PART
ajfa-989	83	17	model	model	VERB
ajfa-989	83	18	the	the	DET
ajfa-989	83	19	key	key	ADJ
ajfa-989	83	20	factors	factor	NOUN
ajfa-989	83	21	influencing	influence	VERB
ajfa-989	83	22	movements	movement	NOUN
ajfa-989	83	23	in	in	ADP
ajfa-989	83	24	the	the	DET
ajfa-989	83	25	russian	russian	ADJ
ajfa-989	83	26	bond	bond	NOUN
ajfa-989	83	27	market	market	NOUN
ajfa-989	83	28	.	.	PUNCT
ajfa-989	84	1	the	the	DET
ajfa-989	84	2	dataset	dataset	NOUN
ajfa-989	84	3	starts	start	VERB
ajfa-989	84	4	from	from	ADP
ajfa-989	84	5	july	july	PROPN
ajfa-989	84	6	1994	1994	NUM
ajfa-989	84	7	and	and	CCONJ
ajfa-989	84	8	ends	end	VERB
ajfa-989	84	9	at	at	ADP
ajfa-989	84	10	december	december	PROPN
ajfa-989	84	11	2007	2007	NUM
ajfa-989	84	12	,	,	PUNCT
ajfa-989	84	13	yielding	yield	VERB
ajfa-989	84	14	3522	3522	NUM
ajfa-989	84	15	observations	observation	NOUN
ajfa-989	84	16	for	for	ADP
ajfa-989	84	17	each	each	DET
ajfa-989	84	18	series	series	NOUN
ajfa-989	84	19	.	.	PUNCT
ajfa-989	85	1	the	the	DET
ajfa-989	85	2	beginning	beginning	NOUN
ajfa-989	85	3	of	of	ADP
ajfa-989	85	4	this	this	DET
ajfa-989	85	5	data	datum	NOUN
ajfa-989	85	6	set	set	VERB
ajfa-989	85	7	is	be	AUX
ajfa-989	85	8	due	due	ADJ
ajfa-989	85	9	to	to	ADP
ajfa-989	85	10	the	the	DET
ajfa-989	85	11	availability	availability	NOUN
ajfa-989	85	12	of	of	ADP
ajfa-989	85	13	the	the	DET
ajfa-989	85	14	total	total	ADJ
ajfa-989	85	15	return	return	NOUN
ajfa-989	85	16	index	index	NOUN
ajfa-989	85	17	for	for	ADP
ajfa-989	85	18	russia	russia	PROPN
ajfa-989	85	19	,	,	PUNCT
ajfa-989	85	20	and	and	CCONJ
ajfa-989	85	21	the	the	DET
ajfa-989	85	22	use	use	NOUN
ajfa-989	85	23	of	of	ADP
ajfa-989	85	24	daily	daily	ADJ
ajfa-989	85	25	data	datum	NOUN
ajfa-989	85	26	(	(	PUNCT
ajfa-989	85	27	over	over	ADP
ajfa-989	85	28	a	a	DET
ajfa-989	85	29	five	five	NUM
ajfa-989	85	30	-	-	PUNCT
ajfa-989	85	31	day	day	NOUN
ajfa-989	85	32	period	period	NOUN
ajfa-989	85	33	)	)	PUNCT
ajfa-989	85	34	in	in	ADP
ajfa-989	85	35	this	this	DET
ajfa-989	85	36	study	study	NOUN
ajfa-989	85	37	is	be	AUX
ajfa-989	85	38	to	to	PART
ajfa-989	85	39	get	get	VERB
ajfa-989	85	40	meaningful	meaningful	ADJ
ajfa-989	85	41	statistical	statistical	ADJ
ajfa-989	85	42	generalizations	generalization	NOUN
ajfa-989	85	43	and	and	CCONJ
ajfa-989	85	44	to	to	PART
ajfa-989	85	45	obtain	obtain	VERB
ajfa-989	85	46	a	a	DET
ajfa-989	85	47	better	well	ADJ
ajfa-989	85	48	picture	picture	NOUN
ajfa-989	85	49	of	of	ADP
ajfa-989	85	50	the	the	DET
ajfa-989	85	51	movements	movement	NOUN
ajfa-989	85	52	of	of	ADP
ajfa-989	85	53	stock	stock	NOUN
ajfa-989	85	54	–	–	PUNCT
ajfa-989	85	55	bond	bond	NOUN
ajfa-989	85	56	returns	return	NOUN
ajfa-989	85	57	.	.	PUNCT
ajfa-989	86	1	daily	daily	ADJ
ajfa-989	86	2	returns	return	NOUN
ajfa-989	86	3	are	be	AUX
ajfa-989	86	4	constructed	construct	VERB
ajfa-989	86	5	as	as	ADP
ajfa-989	86	6	the	the	DET
ajfa-989	86	7	first	first	ADJ
ajfa-989	86	8	difference	difference	NOUN
ajfa-989	86	9	of	of	ADP
ajfa-989	86	10	logarithmic	logarithmic	ADJ
ajfa-989	86	11	prices	price	NOUN
ajfa-989	86	12	multiplied	multiply	VERB
ajfa-989	86	13	by	by	ADP
ajfa-989	86	14	100	100	NUM
ajfa-989	86	15	.	.	PUNCT
ajfa-989	87	1	table	table	NOUN
ajfa-989	87	2	1	1	NUM
ajfa-989	87	3	presents	present	VERB
ajfa-989	87	4	a	a	DET
ajfa-989	87	5	wide	wide	ADJ
ajfa-989	87	6	range	range	NOUN
ajfa-989	87	7	of	of	ADP
ajfa-989	87	8	descriptive	descriptive	ADJ
ajfa-989	87	9	statistics	statistic	NOUN
ajfa-989	87	10	for	for	ADP
ajfa-989	87	11	both	both	PRON
ajfa-989	87	12	of	of	ADP
ajfa-989	87	13	the	the	DET
ajfa-989	87	14	series	series	NOUN
ajfa-989	87	15	under	under	ADP
ajfa-989	87	16	investigation	investigation	NOUN
ajfa-989	87	17	.	.	PUNCT
ajfa-989	88	1	as	as	ADP
ajfa-989	88	2	a	a	DET
ajfa-989	88	3	first	first	ADJ
ajfa-989	88	4	step	step	NOUN
ajfa-989	88	5	,	,	PUNCT
ajfa-989	88	6	stationarity	stationarity	NOUN
ajfa-989	88	7	in	in	ADP
ajfa-989	88	8	the	the	DET
ajfa-989	88	9	time	time	NOUN
ajfa-989	88	10	series	series	NOUN
ajfa-989	88	11	is	be	AUX
ajfa-989	88	12	checked	check	VERB
ajfa-989	88	13	by	by	ADP
ajfa-989	88	14	applying	apply	VERB
ajfa-989	88	15	the	the	DET
ajfa-989	88	16	augmented	augment	VERB
ajfa-989	88	17	dickey	dickey	PROPN
ajfa-989	88	18	fuller	full	ADJ
ajfa-989	88	19	(	(	PUNCT
ajfa-989	88	20	adf	adf	NOUN
ajfa-989	88	21	)	)	PUNCT
ajfa-989	88	22	test	test	NOUN
ajfa-989	88	23	.	.	PUNCT
ajfa-989	89	1	the	the	DET
ajfa-989	89	2	results	result	NOUN
ajfa-989	89	3	(	(	PUNCT
ajfa-989	89	4	see	see	VERB
ajfa-989	89	5	table	table	NOUN
ajfa-989	89	6	1	1	NUM
ajfa-989	89	7	)	)	PUNCT
ajfa-989	89	8	allow	allow	VERB
ajfa-989	89	9	us	we	PRON
ajfa-989	89	10	to	to	PART
ajfa-989	89	11	reject	reject	VERB
ajfa-989	89	12	the	the	DET
ajfa-989	89	13	null	null	ADJ
ajfa-989	89	14	hypothesis	hypothesis	NOUN
ajfa-989	89	15	that	that	PRON
ajfa-989	89	16	returns	return	NOUN
ajfa-989	89	17	have	have	VERB
ajfa-989	89	18	a	a	DET
ajfa-989	89	19	unit	unit	NOUN
ajfa-989	89	20	root	root	NOUN
ajfa-989	89	21	in	in	ADP
ajfa-989	89	22	favor	favor	NOUN
ajfa-989	89	23	of	of	ADP
ajfa-989	89	24	the	the	DET
ajfa-989	89	25	alternate	alternate	ADJ
ajfa-989	89	26	hypothesis	hypothesis	NOUN
ajfa-989	89	27	of	of	ADP
ajfa-989	89	28	stationarity	stationarity	NOUN
ajfa-989	89	29	(	(	PUNCT
ajfa-989	89	30	even	even	ADV
ajfa-989	89	31	at	at	ADP
ajfa-989	89	32	1	1	NUM
ajfa-989	89	33	%	%	NOUN
ajfa-989	89	34	mackinnon	mackinnon	PROPN
ajfa-989	89	35	critical	critical	ADJ
ajfa-989	89	36	value	value	NOUN
ajfa-989	89	37	)	)	PUNCT
ajfa-989	89	38	.	.	PUNCT
ajfa-989	90	1	the	the	DET
ajfa-989	90	2	development	development	NOUN
ajfa-989	90	3	of	of	ADP
ajfa-989	90	4	both	both	DET
ajfa-989	90	5	asset	asset	NOUN
ajfa-989	90	6	indices	index	NOUN
ajfa-989	90	7	is	be	AUX
ajfa-989	90	8	shown	show	VERB
ajfa-989	90	9	in	in	ADP
ajfa-989	90	10	figure	figure	NOUN
ajfa-989	90	11	1	1	NUM
ajfa-989	90	12	.	.	PUNCT
ajfa-989	91	1	this	this	PRON
ajfa-989	91	2	clearly	clearly	ADV
ajfa-989	91	3	exhibits	exhibit	VERB
ajfa-989	91	4	non	non	ADJ
ajfa-989	91	5	-	-	NOUN
ajfa-989	91	6	stationarity	stationarity	NOUN
ajfa-989	91	7	in	in	ADP
ajfa-989	91	8	both	both	DET
ajfa-989	91	9	return	return	NOUN
ajfa-989	91	10	indices	index	NOUN
ajfa-989	91	11	.	.	PUNCT
ajfa-989	92	1	0	0	NUM
ajfa-989	93	1	1000	1000	NUM
ajfa-989	93	2	2000	2000	NUM
ajfa-989	93	3	3000	3000	NUM
ajfa-989	93	4	4000	4000	NUM
ajfa-989	93	5	5000	5000	NUM
ajfa-989	93	6	6000	6000	NUM
ajfa-989	93	7	7000	7000	NUM
ajfa-989	93	8	8000	8000	NUM
ajfa-989	93	9	jul-94	jul-94	VERB
ajfa-989	93	10	jul-96	jul-96	ADP
ajfa-989	93	11	jul-98	jul-98	PROPN
ajfa-989	93	12	jul-00	jul-00	CCONJ
ajfa-989	93	13	jul-02	jul-02	PROPN
ajfa-989	93	14	jul-04	jul-04	PROPN
ajfa-989	93	15	jul-06	jul-06	NOUN
ajfa-989	93	16	0	0	NUM
ajfa-989	93	17	100	100	NUM
ajfa-989	93	18	200	200	NUM
ajfa-989	93	19	300	300	NUM
ajfa-989	93	20	400	400	NUM
ajfa-989	93	21	500	500	NUM
ajfa-989	93	22	600	600	NUM
ajfa-989	93	23	russia	russia	NOUN
ajfa-989	93	24	-	-	PUNCT
ajfa-989	93	25	ds	ds	ADJ
ajfa-989	93	26	jpm	jpm	NOUN
ajfa-989	93	27	embi+	embi+	X
ajfa-989	93	28	figure	figure	NOUN
ajfa-989	93	29	1	1	NUM
ajfa-989	93	30	.	.	PUNCT
ajfa-989	94	1	development	development	NOUN
ajfa-989	94	2	of	of	ADP
ajfa-989	94	3	russian	russian	ADJ
ajfa-989	94	4	equity	equity	NOUN
ajfa-989	94	5	market	market	NOUN
ajfa-989	94	6	indices	index	NOUN
ajfa-989	94	7	(	(	PUNCT
ajfa-989	94	8	left	leave	VERB
ajfa-989	94	9	axis	axis	NOUN
ajfa-989	94	10	)	)	PUNCT
ajfa-989	94	11	and	and	CCONJ
ajfa-989	94	12	the	the	DET
ajfa-989	94	13	jpm	jpm	PROPN
ajfa-989	94	14	embi	embi	PROPN
ajfa-989	94	15	russia	russia	PROPN
ajfa-989	94	16	index	index	PROPN
ajfa-989	94	17	(	(	PUNCT
ajfa-989	94	18	right	right	ADJ
ajfa-989	94	19	axis	axis	NOUN
ajfa-989	94	20	)	)	PUNCT
ajfa-989	94	21	from	from	ADP
ajfa-989	94	22	1994	1994	NUM
ajfa-989	94	23	to	to	ADP
ajfa-989	94	24	2007	2007	NUM
ajfa-989	94	25	.	.	PUNCT
ajfa-989	95	1	1	1	NUM
ajfa-989	95	2	note	note	VERB
ajfa-989	95	3	that	that	SCONJ
ajfa-989	95	4	the	the	DET
ajfa-989	95	5	total	total	ADJ
ajfa-989	95	6	return	return	NOUN
ajfa-989	95	7	index	index	NOUN
ajfa-989	95	8	series	series	NOUN
ajfa-989	95	9	is	be	AUX
ajfa-989	95	10	an	an	DET
ajfa-989	95	11	index	index	NOUN
ajfa-989	95	12	series	series	NOUN
ajfa-989	95	13	and	and	CCONJ
ajfa-989	95	14	not	not	PART
ajfa-989	95	15	a	a	DET
ajfa-989	95	16	return	return	NOUN
ajfa-989	95	17	series	series	NOUN
ajfa-989	95	18	.	.	PUNCT
ajfa-989	96	1	asian	asian	ADJ
ajfa-989	96	2	journal	journal	PROPN
ajfa-989	96	3	of	of	ADP
ajfa-989	96	4	finance	finance	PROPN
ajfa-989	96	5	&	&	CCONJ
ajfa-989	96	6	accounting	accounting	PROPN
ajfa-989	96	7	issn	issn	PROPN
ajfa-989	96	8	1946	1946	NUM
ajfa-989	96	9	-	-	PUNCT
ajfa-989	96	10	052x	052x	NOUN
ajfa-989	96	11	2011	2011	NUM
ajfa-989	96	12	,	,	PUNCT
ajfa-989	96	13	vol	vol	NOUN
ajfa-989	96	14	.	.	PROPN
ajfa-989	97	1	3	3	NUM
ajfa-989	97	2	,	,	PUNCT
ajfa-989	97	3	no	no	INTJ
ajfa-989	97	4	.	.	NOUN
ajfa-989	97	5	1	1	NUM
ajfa-989	97	6	:	:	PUNCT
ajfa-989	97	7	e5	e5	PROPN
ajfa-989	97	8	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-989	97	9	78	78	NUM
ajfa-989	97	10	the	the	DET
ajfa-989	97	11	first	first	ADJ
ajfa-989	97	12	two	two	NUM
ajfa-989	97	13	moments	moment	NOUN
ajfa-989	97	14	of	of	ADP
ajfa-989	97	15	the	the	DET
ajfa-989	97	16	data	datum	NOUN
ajfa-989	97	17	,	,	PUNCT
ajfa-989	97	18	i.e.	i.e.	X
ajfa-989	97	19	,	,	PUNCT
ajfa-989	97	20	mean	mean	ADJ
ajfa-989	97	21	and	and	CCONJ
ajfa-989	97	22	standard	standard	ADJ
ajfa-989	97	23	deviation	deviation	NOUN
ajfa-989	97	24	,	,	PUNCT
ajfa-989	97	25	are	be	AUX
ajfa-989	97	26	multiplied	multiply	VERB
ajfa-989	97	27	by	by	ADP
ajfa-989	97	28	2402	2402	NUM
ajfa-989	97	29	and	and	CCONJ
ajfa-989	97	30	the	the	DET
ajfa-989	97	31	square	square	ADJ
ajfa-989	97	32	root	root	NOUN
ajfa-989	97	33	of	of	ADP
ajfa-989	97	34	240	240	NUM
ajfa-989	97	35	to	to	PART
ajfa-989	97	36	show	show	VERB
ajfa-989	97	37	them	they	PRON
ajfa-989	97	38	in	in	ADP
ajfa-989	97	39	annual	annual	ADJ
ajfa-989	97	40	terms	term	NOUN
ajfa-989	97	41	.	.	PUNCT
ajfa-989	98	1	as	as	SCONJ
ajfa-989	98	2	can	can	AUX
ajfa-989	98	3	be	be	AUX
ajfa-989	98	4	anticipated	anticipate	VERB
ajfa-989	98	5	,	,	PUNCT
ajfa-989	98	6	stock	stock	NOUN
ajfa-989	98	7	market	market	NOUN
ajfa-989	98	8	indices	index	NOUN
ajfa-989	98	9	have	have	VERB
ajfa-989	98	10	higher	high	ADJ
ajfa-989	98	11	returns	return	NOUN
ajfa-989	98	12	as	as	ADP
ajfa-989	98	13	compared	compare	VERB
ajfa-989	98	14	to	to	ADP
ajfa-989	98	15	the	the	DET
ajfa-989	98	16	bond	bond	NOUN
ajfa-989	98	17	market	market	NOUN
ajfa-989	98	18	,	,	PUNCT
ajfa-989	98	19	however	however	ADV
ajfa-989	98	20	,	,	PUNCT
ajfa-989	98	21	the	the	DET
ajfa-989	98	22	high	high	ADJ
ajfa-989	98	23	returns	return	NOUN
ajfa-989	98	24	are	be	AUX
ajfa-989	98	25	clearly	clearly	ADV
ajfa-989	98	26	associated	associate	VERB
ajfa-989	98	27	with	with	ADP
ajfa-989	98	28	high	high	ADJ
ajfa-989	98	29	risks	risk	NOUN
ajfa-989	98	30	(	(	PUNCT
ajfa-989	98	31	standard	standard	ADJ
ajfa-989	98	32	deviations	deviation	NOUN
ajfa-989	98	33	)	)	PUNCT
ajfa-989	98	34	.	.	PUNCT
ajfa-989	99	1	both	both	DET
ajfa-989	99	2	the	the	DET
ajfa-989	99	3	return	return	NOUN
ajfa-989	99	4	series	series	NOUN
ajfa-989	99	5	are	be	AUX
ajfa-989	99	6	,	,	PUNCT
ajfa-989	99	7	without	without	ADP
ajfa-989	99	8	exception	exception	NOUN
ajfa-989	99	9	,	,	PUNCT
ajfa-989	99	10	highly	highly	ADV
ajfa-989	99	11	leptokurtic	leptokurtic	ADJ
ajfa-989	99	12	and	and	CCONJ
ajfa-989	99	13	exhibit	exhibit	VERB
ajfa-989	99	14	strong	strong	ADJ
ajfa-989	99	15	skewness	skewness	NOUN
ajfa-989	99	16	.	.	PUNCT
ajfa-989	100	1	this	this	PRON
ajfa-989	100	2	suggests	suggest	VERB
ajfa-989	100	3	the	the	DET
ajfa-989	100	4	presence	presence	NOUN
ajfa-989	100	5	of	of	ADP
ajfa-989	100	6	asymmetry	asymmetry	NOUN
ajfa-989	100	7	in	in	ADP
ajfa-989	100	8	the	the	DET
ajfa-989	100	9	return	return	NOUN
ajfa-989	100	10	series	series	NOUN
ajfa-989	100	11	of	of	ADP
ajfa-989	100	12	both	both	DET
ajfa-989	100	13	stocks	stock	NOUN
ajfa-989	100	14	and	and	CCONJ
ajfa-989	100	15	bonds	bond	NOUN
ajfa-989	100	16	.	.	PUNCT
ajfa-989	101	1	to	to	PART
ajfa-989	101	2	check	check	VERB
ajfa-989	101	3	the	the	DET
ajfa-989	101	4	null	null	ADJ
ajfa-989	101	5	hypothesis	hypothesis	NOUN
ajfa-989	101	6	of	of	ADP
ajfa-989	101	7	normal	normal	ADJ
ajfa-989	101	8	distribution	distribution	NOUN
ajfa-989	101	9	the	the	DET
ajfa-989	101	10	jarque	jarque	NOUN
ajfa-989	101	11	-	-	PUNCT
ajfa-989	101	12	bera	bera	NOUN
ajfa-989	101	13	test	test	NOUN
ajfa-989	101	14	statistic	statistic	NOUN
ajfa-989	101	15	was	be	AUX
ajfa-989	101	16	calculated	calculate	VERB
ajfa-989	101	17	which	which	PRON
ajfa-989	101	18	rejected	reject	VERB
ajfa-989	101	19	the	the	DET
ajfa-989	101	20	null	null	NOUN
ajfa-989	101	21	of	of	ADP
ajfa-989	101	22	the	the	DET
ajfa-989	101	23	normality	normality	NOUN
ajfa-989	101	24	in	in	ADP
ajfa-989	101	25	both	both	DET
ajfa-989	101	26	cases	case	NOUN
ajfa-989	101	27	.	.	PUNCT
ajfa-989	102	1	table	table	NOUN
ajfa-989	102	2	1	1	NUM
ajfa-989	102	3	.	.	PUNCT
ajfa-989	103	1	summary	summary	NOUN
ajfa-989	103	2	of	of	ADP
ajfa-989	103	3	descriptive	descriptive	ADJ
ajfa-989	103	4	statistics	statistic	NOUN
ajfa-989	103	5	for	for	ADP
ajfa-989	103	6	the	the	DET
ajfa-989	103	7	russian	russian	ADJ
ajfa-989	103	8	stock	stock	NOUN
ajfa-989	103	9	and	and	CCONJ
ajfa-989	103	10	bond	bond	NOUN
ajfa-989	103	11	market	market	NOUN
ajfa-989	103	12	.	.	PUNCT
ajfa-989	104	1	mean	mean	VERB
ajfa-989	104	2	std	std	PROPN
ajfa-989	104	3	.	.	PROPN
ajfa-989	105	1	dev	dev	PROPN
ajfa-989	105	2	.	.	PUNCT
ajfa-989	106	1	skewness	skewness	PROPN
ajfa-989	106	2	kurtosis	kurtosis	VERB
ajfa-989	106	3	jb	jb	PROPN
ajfa-989	106	4	adf	adf	PROPN
ajfa-989	106	5	lb(24	lb(24	PROPN
ajfa-989	106	6	)	)	PUNCT
ajfa-989	106	7	lb2	lb2	PROPN
ajfa-989	106	8	(	(	PUNCT
ajfa-989	106	9	24	24	NUM
ajfa-989	106	10	)	)	PUNCT
ajfa-989	106	11	arch	arch	NOUN
ajfa-989	106	12	lm	lm	INTJ
ajfa-989	106	13	stock	stock	NOUN
ajfa-989	106	14	28.686	28.686	NUM
ajfa-989	106	15	40.865	40.865	NUM
ajfa-989	106	16	0.358	0.358	NUM
ajfa-989	106	17	26.199	26.199	NUM
ajfa-989	106	18	<	<	X
ajfa-989	106	19	0.001	0.001	NUM
ajfa-989	106	20	*	*	PUNCT
ajfa-989	106	21	-57.386	-57.386	PUNCT
ajfa-989	106	22	*	*	PUNCT
ajfa-989	106	23	52.831	52.831	NUM
ajfa-989	106	24	*	*	PUNCT
ajfa-989	106	25	593.04	593.04	NUM
ajfa-989	106	26	*	*	SYM
ajfa-989	106	27	118.304	118.304	NUM
ajfa-989	106	28	*	*	PUNCT
ajfa-989	106	29	bond	bond	NOUN
ajfa-989	106	30	14.331	14.331	NUM
ajfa-989	106	31	29.794	29.794	NUM
ajfa-989	106	32	-1.582	-1.582	PUNCT
ajfa-989	106	33	42.109	42.109	NUM
ajfa-989	106	34	0.001	0.001	NUM
ajfa-989	106	35	*	*	PUNCT
ajfa-989	106	36	-30.017	-30.017	NOUN
ajfa-989	106	37	*	*	PUNCT
ajfa-989	106	38	228.490	228.490	NUM
ajfa-989	106	39	*	*	SYM
ajfa-989	106	40	3381.6	3381.6	NUM
ajfa-989	106	41	*	*	NOUN
ajfa-989	106	42	226.439	226.439	NUM
ajfa-989	106	43	*	*	PUNCT
ajfa-989	106	44	*	*	PUNCT
ajfa-989	106	45	indicates	indicate	VERB
ajfa-989	106	46	significance	significance	NOUN
ajfa-989	106	47	at	at	ADP
ajfa-989	106	48	5	5	NUM
ajfa-989	106	49	%	%	NOUN
ajfa-989	106	50	level	level	NOUN
ajfa-989	106	51	.	.	PUNCT
ajfa-989	107	1	descriptive	descriptive	ADJ
ajfa-989	107	2	statistics	statistic	NOUN
ajfa-989	107	3	are	be	AUX
ajfa-989	107	4	provided	provide	VERB
ajfa-989	107	5	for	for	ADP
ajfa-989	107	6	russian	russian	ADJ
ajfa-989	107	7	stock	stock	NOUN
ajfa-989	107	8	and	and	CCONJ
ajfa-989	107	9	bond	bond	NOUN
ajfa-989	107	10	market	market	NOUN
ajfa-989	107	11	returns	return	NOUN
ajfa-989	107	12	.	.	PUNCT
ajfa-989	108	1	stocks	stock	NOUN
ajfa-989	108	2	market	market	NOUN
ajfa-989	108	3	returns	return	NOUN
ajfa-989	108	4	are	be	AUX
ajfa-989	108	5	proxied	proxie	VERB
ajfa-989	108	6	by	by	ADP
ajfa-989	108	7	logarithmic	logarithmic	ADJ
ajfa-989	108	8	returns	return	NOUN
ajfa-989	108	9	on	on	ADP
ajfa-989	108	10	datastream	datastream	ADJ
ajfa-989	108	11	daily	daily	ADJ
ajfa-989	108	12	total	total	ADJ
ajfa-989	108	13	return	return	NOUN
ajfa-989	108	14	index	index	NOUN
ajfa-989	108	15	for	for	ADP
ajfa-989	108	16	russia	russia	PROPN
ajfa-989	108	17	.	.	PUNCT
ajfa-989	109	1	bond	bond	NOUN
ajfa-989	109	2	market	market	NOUN
ajfa-989	109	3	returns	return	NOUN
ajfa-989	109	4	are	be	AUX
ajfa-989	109	5	proxied	proxie	VERB
ajfa-989	109	6	by	by	ADP
ajfa-989	109	7	logarithmic	logarithmic	ADJ
ajfa-989	109	8	returns	return	NOUN
ajfa-989	109	9	on	on	ADP
ajfa-989	109	10	jp	jp	NOUN
ajfa-989	109	11	.	.	PUNCT
ajfa-989	110	1	morgan	morgan	PROPN
ajfa-989	110	2	embi	embi	PROPN
ajfa-989	110	3	russia	russia	PROPN
ajfa-989	110	4	daily	daily	PROPN
ajfa-989	110	5	index	index	PROPN
ajfa-989	110	6	.	.	PUNCT
ajfa-989	111	1	sample	sample	NOUN
ajfa-989	111	2	period	period	NOUN
ajfa-989	111	3	is	be	AUX
ajfa-989	111	4	from	from	ADP
ajfa-989	111	5	july	july	PROPN
ajfa-989	111	6	1994	1994	NUM
ajfa-989	111	7	to	to	ADP
ajfa-989	111	8	december	december	PROPN
ajfa-989	111	9	2007	2007	NUM
ajfa-989	111	10	.	.	PUNCT
ajfa-989	112	1	mean	mean	VERB
ajfa-989	112	2	and	and	CCONJ
ajfa-989	112	3	standard	standard	ADJ
ajfa-989	112	4	deviations	deviation	NOUN
ajfa-989	112	5	are	be	AUX
ajfa-989	112	6	annualized	annualize	VERB
ajfa-989	112	7	by	by	ADP
ajfa-989	112	8	multiplying	multiply	VERB
ajfa-989	112	9	them	they	PRON
ajfa-989	112	10	by	by	ADP
ajfa-989	112	11	240	240	NUM
ajfa-989	112	12	and	and	CCONJ
ajfa-989	112	13	the	the	DET
ajfa-989	112	14	square	square	ADJ
ajfa-989	112	15	root	root	NOUN
ajfa-989	112	16	of	of	ADP
ajfa-989	112	17	240	240	NUM
ajfa-989	112	18	.	.	PUNCT
ajfa-989	113	1	jb	jb	PROPN
ajfa-989	113	2	stands	stand	VERB
ajfa-989	113	3	for	for	ADP
ajfa-989	113	4	jarque	jarque	NOUN
ajfa-989	113	5	-	-	PUNCT
ajfa-989	113	6	bera	bera	NOUN
ajfa-989	113	7	test	test	NOUN
ajfa-989	113	8	on	on	ADP
ajfa-989	113	9	normality	normality	NOUN
ajfa-989	113	10	of	of	ADP
ajfa-989	113	11	the	the	DET
ajfa-989	113	12	returns	return	NOUN
ajfa-989	113	13	.	.	PUNCT
ajfa-989	114	1	p	p	X
ajfa-989	114	2	-	-	PUNCT
ajfa-989	114	3	value	value	NOUN
ajfa-989	114	4	is	be	AUX
ajfa-989	114	5	reported	report	VERB
ajfa-989	114	6	.	.	PUNCT
ajfa-989	115	1	adf	adf	PROPN
ajfa-989	115	2	stands	stand	VERB
ajfa-989	115	3	for	for	ADP
ajfa-989	115	4	augmented	augment	VERB
ajfa-989	115	5	dickey	dickey	PROPN
ajfa-989	115	6	fuller	full	ADJ
ajfa-989	115	7	test	test	NOUN
ajfa-989	115	8	to	to	PART
ajfa-989	115	9	check	check	VERB
ajfa-989	115	10	the	the	DET
ajfa-989	115	11	stationarity	stationarity	NOUN
ajfa-989	115	12	in	in	ADP
ajfa-989	115	13	the	the	DET
ajfa-989	115	14	time	time	NOUN
ajfa-989	115	15	series	series	NOUN
ajfa-989	115	16	.	.	PUNCT
ajfa-989	116	1	lb	lb	NUM
ajfa-989	116	2	stands	stand	VERB
ajfa-989	116	3	for	for	ADP
ajfa-989	116	4	ljung	ljung	ADJ
ajfa-989	116	5	-	-	PUNCT
ajfa-989	116	6	box	box	NOUN
ajfa-989	116	7	test	test	NOUN
ajfa-989	116	8	statistic	statistic	NOUN
ajfa-989	116	9	.	.	PUNCT
ajfa-989	117	1	since	since	SCONJ
ajfa-989	117	2	the	the	DET
ajfa-989	117	3	garch	garch	NOUN
ajfa-989	117	4	process	process	NOUN
ajfa-989	117	5	to	to	PART
ajfa-989	117	6	model	model	VERB
ajfa-989	117	7	the	the	DET
ajfa-989	117	8	variance	variance	NOUN
ajfa-989	117	9	in	in	ADP
ajfa-989	117	10	the	the	DET
ajfa-989	117	11	asset	asset	NOUN
ajfa-989	117	12	returns	return	NOUN
ajfa-989	117	13	was	be	AUX
ajfa-989	117	14	used	use	VERB
ajfa-989	117	15	,	,	PUNCT
ajfa-989	117	16	the	the	DET
ajfa-989	117	17	presence	presence	NOUN
ajfa-989	117	18	of	of	ADP
ajfa-989	117	19	the	the	DET
ajfa-989	117	20	arch	arch	ADJ
ajfa-989	117	21	effect	effect	NOUN
ajfa-989	117	22	was	be	AUX
ajfa-989	117	23	also	also	ADV
ajfa-989	117	24	tested	test	VERB
ajfa-989	117	25	for	for	ADP
ajfa-989	117	26	.	.	PUNCT
ajfa-989	118	1	table	table	NOUN
ajfa-989	118	2	1	1	NUM
ajfa-989	118	3	reports	report	VERB
ajfa-989	118	4	values	value	NOUN
ajfa-989	118	5	for	for	ADP
ajfa-989	118	6	the	the	DET
ajfa-989	118	7	ljung	ljung	ADJ
ajfa-989	118	8	-	-	PUNCT
ajfa-989	118	9	box	box	NOUN
ajfa-989	118	10	test	test	NOUN
ajfa-989	118	11	statistic	statistic	NOUN
ajfa-989	118	12	on	on	ADP
ajfa-989	118	13	the	the	DET
ajfa-989	118	14	squared	square	VERB
ajfa-989	118	15	returns	return	NOUN
ajfa-989	118	16	(	(	PUNCT
ajfa-989	118	17	24	24	NUM
ajfa-989	118	18	lags	lag	NOUN
ajfa-989	118	19	)	)	PUNCT
ajfa-989	118	20	together	together	ADV
ajfa-989	118	21	with	with	ADP
ajfa-989	118	22	the	the	DET
ajfa-989	118	23	arch	arch	ADJ
ajfa-989	118	24	lm	lm	INTJ
ajfa-989	118	25	statistic	statistic	PROPN
ajfa-989	118	26	(	(	PUNCT
ajfa-989	118	27	five	five	NUM
ajfa-989	118	28	lags	lag	NOUN
ajfa-989	118	29	)	)	PUNCT
ajfa-989	118	30	on	on	ADP
ajfa-989	118	31	each	each	DET
ajfa-989	118	32	returns	return	NOUN
ajfa-989	118	33	series	series	NOUN
ajfa-989	118	34	.	.	PUNCT
ajfa-989	119	1	the	the	DET
ajfa-989	119	2	results	result	NOUN
ajfa-989	119	3	show	show	VERB
ajfa-989	119	4	evidence	evidence	NOUN
ajfa-989	119	5	of	of	ADP
ajfa-989	119	6	an	an	DET
ajfa-989	119	7	autocorrelation	autocorrelation	NOUN
ajfa-989	119	8	pattern	pattern	NOUN
ajfa-989	119	9	in	in	ADP
ajfa-989	119	10	both	both	DET
ajfa-989	119	11	residuals	residual	NOUN
ajfa-989	119	12	and	and	CCONJ
ajfa-989	119	13	their	their	PRON
ajfa-989	119	14	squares	square	NOUN
ajfa-989	119	15	,	,	PUNCT
ajfa-989	119	16	which	which	PRON
ajfa-989	119	17	suggests	suggest	VERB
ajfa-989	119	18	that	that	SCONJ
ajfa-989	119	19	garch	garch	NOUN
ajfa-989	119	20	parameterization	parameterization	NOUN
ajfa-989	119	21	might	might	AUX
ajfa-989	119	22	be	be	AUX
ajfa-989	119	23	appropriate	appropriate	ADJ
ajfa-989	119	24	for	for	ADP
ajfa-989	119	25	the	the	DET
ajfa-989	119	26	conditional	conditional	ADJ
ajfa-989	119	27	variance	variance	NOUN
ajfa-989	119	28	processes	process	NOUN
ajfa-989	119	29	.	.	PUNCT
ajfa-989	120	1	4	4	X
ajfa-989	120	2	.	.	X
ajfa-989	120	3	empirical	empirical	ADJ
ajfa-989	120	4	results	result	NOUN
ajfa-989	120	5	4.1	4.1	NUM
ajfa-989	120	6	constant	constant	ADJ
ajfa-989	120	7	conditional	conditional	ADJ
ajfa-989	120	8	correlation	correlation	NOUN
ajfa-989	120	9	estimates	estimate	NOUN
ajfa-989	120	10	following	follow	VERB
ajfa-989	120	11	bollerslev	bollerslev	ADJ
ajfa-989	120	12	(	(	PUNCT
ajfa-989	120	13	1990	1990	NUM
ajfa-989	120	14	)	)	PUNCT
ajfa-989	120	15	,	,	PUNCT
ajfa-989	120	16	this	this	DET
ajfa-989	120	17	investigation	investigation	NOUN
ajfa-989	120	18	started	start	VERB
ajfa-989	120	19	with	with	ADP
ajfa-989	120	20	the	the	DET
ajfa-989	120	21	assumption	assumption	NOUN
ajfa-989	120	22	of	of	ADP
ajfa-989	120	23	constant	constant	ADJ
ajfa-989	120	24	conditional	conditional	ADJ
ajfa-989	120	25	correlation	correlation	NOUN
ajfa-989	120	26	in	in	ADP
ajfa-989	120	27	a	a	DET
ajfa-989	120	28	multivariate	multivariate	NOUN
ajfa-989	120	29	garch	garch	NOUN
ajfa-989	120	30	setting	set	VERB
ajfa-989	120	31	where	where	SCONJ
ajfa-989	120	32	variance	variance	NOUN
ajfa-989	120	33	–	–	PUNCT
ajfa-989	120	34	covariance	covariance	NOUN
ajfa-989	120	35	terms	term	NOUN
ajfa-989	120	36	are	be	AUX
ajfa-989	120	37	time	time	NOUN
ajfa-989	120	38	varying	vary	VERB
ajfa-989	120	39	.	.	PUNCT
ajfa-989	121	1	the	the	DET
ajfa-989	121	2	ccc	ccc	PROPN
ajfa-989	121	3	model3	model3	PROPN
ajfa-989	121	4	seemed	seem	VERB
ajfa-989	121	5	to	to	PART
ajfa-989	121	6	be	be	AUX
ajfa-989	121	7	the	the	DET
ajfa-989	121	8	best	good	ADJ
ajfa-989	121	9	starting	starting	NOUN
ajfa-989	121	10	point	point	NOUN
ajfa-989	121	11	as	as	SCONJ
ajfa-989	121	12	it	it	PRON
ajfa-989	121	13	avoids	avoid	VERB
ajfa-989	121	14	computational	computational	ADJ
ajfa-989	121	15	complexities	complexity	NOUN
ajfa-989	121	16	and	and	CCONJ
ajfa-989	121	17	assures	assure	VERB
ajfa-989	121	18	the	the	DET
ajfa-989	121	19	positive	positive	ADJ
ajfa-989	121	20	definiteness	definiteness	NOUN
ajfa-989	121	21	of	of	ADP
ajfa-989	121	22	the	the	DET
ajfa-989	121	23	conditional	conditional	ADJ
ajfa-989	121	24	variance	variance	NOUN
ajfa-989	121	25	–	–	PUNCT
ajfa-989	121	26	covariance	covariance	NOUN
ajfa-989	121	27	matrix	matrix	NOUN
ajfa-989	121	28	as	as	ADV
ajfa-989	121	29	well	well	ADV
ajfa-989	121	30	as	as	ADP
ajfa-989	121	31	the	the	DET
ajfa-989	121	32	conditional	conditional	ADJ
ajfa-989	121	33	correlation	correlation	NOUN
ajfa-989	121	34	matrix	matrix	NOUN
ajfa-989	121	35	.	.	PUNCT
ajfa-989	122	1	table	table	NOUN
ajfa-989	122	2	2	2	NUM
ajfa-989	122	3	presents	present	NOUN
ajfa-989	122	4	the	the	DET
ajfa-989	122	5	2	2	NUM
ajfa-989	122	6	we	we	PRON
ajfa-989	122	7	chose	choose	VERB
ajfa-989	122	8	5	5	NUM
ajfa-989	122	9	working	working	NOUN
ajfa-989	122	10	days	day	NOUN
ajfa-989	122	11	length	length	ADV
ajfa-989	122	12	in	in	ADP
ajfa-989	122	13	a	a	DET
ajfa-989	122	14	week	week	NOUN
ajfa-989	122	15	,	,	PUNCT
ajfa-989	122	16	so	so	ADV
ajfa-989	122	17	20	20	NUM
ajfa-989	122	18	days	day	NOUN
ajfa-989	122	19	in	in	ADP
ajfa-989	122	20	one	one	NUM
ajfa-989	122	21	month	month	NOUN
ajfa-989	122	22	and	and	CCONJ
ajfa-989	122	23	240	240	NUM
ajfa-989	122	24	working	working	NOUN
ajfa-989	122	25	days	day	NOUN
ajfa-989	122	26	per	per	ADP
ajfa-989	122	27	year	year	NOUN
ajfa-989	122	28	.	.	PUNCT
ajfa-989	123	1	3	3	NUM
ajfa-989	123	2	the	the	DET
ajfa-989	123	3	estimation	estimation	NOUN
ajfa-989	123	4	is	be	AUX
ajfa-989	123	5	conducted	conduct	VERB
ajfa-989	123	6	using	use	VERB
ajfa-989	123	7	a	a	DET
ajfa-989	123	8	modified	modify	VERB
ajfa-989	123	9	rats	rat	NOUN
ajfa-989	123	10	routines	routine	NOUN
ajfa-989	123	11	originally	originally	ADV
ajfa-989	123	12	available	available	ADJ
ajfa-989	123	13	at	at	ADP
ajfa-989	123	14	www.estima.com	www.estima.com	X
ajfa-989	123	15	asian	asian	ADJ
ajfa-989	123	16	journal	journal	PROPN
ajfa-989	123	17	of	of	ADP
ajfa-989	123	18	finance	finance	PROPN
ajfa-989	123	19	&	&	CCONJ
ajfa-989	123	20	accounting	accounting	PROPN
ajfa-989	123	21	issn	issn	PROPN
ajfa-989	123	22	1946	1946	NUM
ajfa-989	123	23	-	-	PUNCT
ajfa-989	123	24	052x	052x	NOUN
ajfa-989	123	25	2011	2011	NUM
ajfa-989	123	26	,	,	PUNCT
ajfa-989	123	27	vol	vol	NOUN
ajfa-989	123	28	.	.	PROPN
ajfa-989	124	1	3	3	NUM
ajfa-989	124	2	,	,	PUNCT
ajfa-989	124	3	no	no	INTJ
ajfa-989	124	4	.	.	NOUN
ajfa-989	124	5	1	1	NUM
ajfa-989	124	6	:	:	PUNCT
ajfa-989	124	7	e5	e5	PROPN
ajfa-989	124	8	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-989	124	9	79	79	NUM
ajfa-989	124	10	results	result	NOUN
ajfa-989	124	11	.	.	PUNCT
ajfa-989	125	1	parameter	parameter	PROPN
ajfa-989	125	2	µ	µ	NOUN
ajfa-989	125	3	corresponds	correspond	NOUN
ajfa-989	125	4	to	to	ADP
ajfa-989	125	5	the	the	DET
ajfa-989	125	6	mean	mean	ADJ
ajfa-989	125	7	equation	equation	NOUN
ajfa-989	125	8	,	,	PUNCT
ajfa-989	125	9	whereas	whereas	SCONJ
ajfa-989	125	10			X
ajfa-989	125	11	,	,	PUNCT
ajfa-989	125	12			X
ajfa-989	125	13	and	and	CCONJ
ajfa-989	125	14			PROPN
ajfa-989	125	15	represent	represent	VERB
ajfa-989	125	16	the	the	DET
ajfa-989	125	17	conditional	conditional	ADJ
ajfa-989	125	18	variance	variance	NOUN
ajfa-989	125	19	of	of	ADP
ajfa-989	125	20	both	both	CCONJ
ajfa-989	125	21	the	the	DET
ajfa-989	125	22	stock	stock	NOUN
ajfa-989	125	23	and	and	CCONJ
ajfa-989	125	24	bond	bond	NOUN
ajfa-989	125	25	returns	return	NOUN
ajfa-989	125	26	which	which	PRON
ajfa-989	125	27	are	be	AUX
ajfa-989	125	28	modeled	model	VERB
ajfa-989	125	29	by	by	ADP
ajfa-989	125	30	a	a	DET
ajfa-989	125	31	separate	separate	ADJ
ajfa-989	125	32	univariate	univariate	ADJ
ajfa-989	125	33	garch	garch	NOUN
ajfa-989	125	34	(	(	PUNCT
ajfa-989	125	35	1	1	NUM
ajfa-989	125	36	,	,	PUNCT
ajfa-989	125	37	1	1	X
ajfa-989	125	38	)	)	PUNCT
ajfa-989	125	39	model	model	NOUN
ajfa-989	125	40	with	with	ADP
ajfa-989	125	41	no	no	DET
ajfa-989	125	42	drift	drift	NOUN
ajfa-989	125	43	parameters	parameter	NOUN
ajfa-989	125	44	.	.	PUNCT
ajfa-989	126	1	finally	finally	ADV
ajfa-989	126	2			NOUN
ajfa-989	126	3	characterizes	characterize	VERB
ajfa-989	126	4	the	the	DET
ajfa-989	126	5	correlation	correlation	NOUN
ajfa-989	126	6	between	between	ADP
ajfa-989	126	7	the	the	DET
ajfa-989	126	8	two	two	NUM
ajfa-989	126	9	assets	asset	NOUN
ajfa-989	126	10	.	.	PUNCT
ajfa-989	127	1	all	all	DET
ajfa-989	127	2	parameters	parameter	NOUN
ajfa-989	127	3	are	be	AUX
ajfa-989	127	4	found	find	VERB
ajfa-989	127	5	highly	highly	ADV
ajfa-989	127	6	significant	significant	ADJ
ajfa-989	127	7	and	and	CCONJ
ajfa-989	127	8	positive	positive	ADJ
ajfa-989	127	9	;	;	PUNCT
ajfa-989	127	10	the	the	DET
ajfa-989	127	11	significance	significance	NOUN
ajfa-989	127	12	of	of	ADP
ajfa-989	127	13	mean	mean	ADJ
ajfa-989	127	14	equation	equation	NOUN
ajfa-989	127	15	parameter	parameter	NOUN
ajfa-989	127	16	µ	µ	PROPN
ajfa-989	127	17	shows	show	VERB
ajfa-989	127	18	the	the	DET
ajfa-989	127	19	dependence	dependence	NOUN
ajfa-989	127	20	of	of	ADP
ajfa-989	127	21	both	both	CCONJ
ajfa-989	127	22	stock	stock	NOUN
ajfa-989	127	23	and	and	CCONJ
ajfa-989	127	24	bond	bond	NOUN
ajfa-989	127	25	returns	return	NOUN
ajfa-989	127	26	on	on	ADP
ajfa-989	127	27	their	their	PRON
ajfa-989	127	28	lag	lag	NOUN
ajfa-989	127	29	returns	return	NOUN
ajfa-989	127	30	,	,	PUNCT
ajfa-989	127	31	and	and	CCONJ
ajfa-989	127	32	variance	variance	NOUN
ajfa-989	127	33	equation	equation	NOUN
ajfa-989	127	34	parameters	parameter	NOUN
ajfa-989	127	35			X
ajfa-989	127	36	and	and	CCONJ
ajfa-989	127	37			NOUN
ajfa-989	127	38	support	support	NOUN
ajfa-989	127	39	this	this	DET
ajfa-989	127	40	modeling	modeling	NOUN
ajfa-989	127	41	technique	technique	NOUN
ajfa-989	127	42	,	,	PUNCT
ajfa-989	127	43	i.e.	i.e.	X
ajfa-989	127	44	the	the	DET
ajfa-989	127	45	multivariate	multivariate	ADJ
ajfa-989	127	46	garch	garch	NOUN
ajfa-989	127	47	analysis	analysis	NOUN
ajfa-989	127	48	,	,	PUNCT
ajfa-989	127	49	by	by	ADP
ajfa-989	127	50	revealing	reveal	VERB
ajfa-989	127	51	the	the	DET
ajfa-989	127	52	presence	presence	NOUN
ajfa-989	127	53	of	of	ADP
ajfa-989	127	54	conditional	conditional	ADJ
ajfa-989	127	55	hetroskedasticity	hetroskedasticity	NOUN
ajfa-989	127	56	in	in	ADP
ajfa-989	127	57	the	the	DET
ajfa-989	127	58	time	time	NOUN
ajfa-989	127	59	series	series	NOUN
ajfa-989	127	60	.	.	PUNCT
ajfa-989	128	1	the	the	DET
ajfa-989	128	2	estimated	estimate	VERB
ajfa-989	128	3	constant	constant	ADJ
ajfa-989	128	4	conditional	conditional	ADJ
ajfa-989	128	5	correlation	correlation	NOUN
ajfa-989	128	6	between	between	ADP
ajfa-989	128	7	the	the	DET
ajfa-989	128	8	two	two	NUM
ajfa-989	128	9	assets	asset	NOUN
ajfa-989	128	10	is	be	AUX
ajfa-989	128	11	0.213	0.213	NUM
ajfa-989	128	12	.	.	PUNCT
ajfa-989	129	1	since	since	SCONJ
ajfa-989	129	2	it	it	PRON
ajfa-989	129	3	is	be	AUX
ajfa-989	129	4	positive	positive	ADJ
ajfa-989	129	5	it	it	PRON
ajfa-989	129	6	can	can	AUX
ajfa-989	129	7	be	be	AUX
ajfa-989	129	8	argued	argue	VERB
ajfa-989	129	9	that	that	SCONJ
ajfa-989	129	10	both	both	CCONJ
ajfa-989	129	11	stock	stock	NOUN
ajfa-989	129	12	and	and	CCONJ
ajfa-989	129	13	bond	bond	NOUN
ajfa-989	129	14	markets	market	NOUN
ajfa-989	129	15	are	be	AUX
ajfa-989	129	16	exposed	expose	VERB
ajfa-989	129	17	to	to	ADP
ajfa-989	129	18	common	common	ADJ
ajfa-989	129	19	macroeconomic	macroeconomic	ADJ
ajfa-989	129	20	conditions	condition	NOUN
ajfa-989	129	21	.	.	PUNCT
ajfa-989	130	1	the	the	DET
ajfa-989	130	2	estimated	estimate	VERB
ajfa-989	130	3	coefficient	coefficient	NOUN
ajfa-989	130	4	of	of	ADP
ajfa-989	130	5	ccc	ccc	PROPN
ajfa-989	130	6	reflects	reflect	VERB
ajfa-989	130	7	the	the	DET
ajfa-989	130	8	lower	low	ADJ
ajfa-989	130	9	co	co	NOUN
ajfa-989	130	10	-	-	NOUN
ajfa-989	130	11	movements	movement	NOUN
ajfa-989	130	12	between	between	ADP
ajfa-989	130	13	the	the	DET
ajfa-989	130	14	two	two	NUM
ajfa-989	130	15	assets	asset	NOUN
ajfa-989	130	16	which	which	PRON
ajfa-989	130	17	is	be	AUX
ajfa-989	130	18	consistent	consistent	ADJ
ajfa-989	130	19	with	with	ADP
ajfa-989	130	20	prior	prior	ADJ
ajfa-989	130	21	literature	literature	NOUN
ajfa-989	130	22	(	(	PUNCT
ajfa-989	130	23	see	see	VERB
ajfa-989	130	24	,	,	PUNCT
ajfa-989	130	25	e.g.	e.g.	ADV
ajfa-989	130	26	,	,	PUNCT
ajfa-989	130	27	keim	keim	NOUN
ajfa-989	130	28	and	and	CCONJ
ajfa-989	130	29	stambaugh	stambaugh	NOUN
ajfa-989	130	30	,	,	PUNCT
ajfa-989	130	31	1986	1986	NUM
ajfa-989	130	32	;	;	PUNCT
ajfa-989	130	33	campbell	campbell	PROPN
ajfa-989	130	34	and	and	CCONJ
ajfa-989	130	35	ammer	ammer	NOUN
ajfa-989	130	36	,	,	PUNCT
ajfa-989	130	37	1993	1993	NUM
ajfa-989	130	38	)	)	PUNCT
ajfa-989	130	39	and	and	CCONJ
ajfa-989	130	40	also	also	ADV
ajfa-989	130	41	provides	provide	VERB
ajfa-989	130	42	a	a	DET
ajfa-989	130	43	better	well	ADJ
ajfa-989	130	44	opportunity	opportunity	NOUN
ajfa-989	130	45	for	for	ADP
ajfa-989	130	46	optimal	optimal	ADJ
ajfa-989	130	47	portfolio	portfolio	NOUN
ajfa-989	130	48	selection	selection	NOUN
ajfa-989	130	49	.	.	PUNCT
ajfa-989	131	1	since	since	SCONJ
ajfa-989	131	2	the	the	DET
ajfa-989	131	3	ccc	ccc	PROPN
ajfa-989	131	4	model	model	NOUN
ajfa-989	131	5	assumes	assume	VERB
ajfa-989	131	6	that	that	SCONJ
ajfa-989	131	7	the	the	DET
ajfa-989	131	8	conditional	conditional	ADJ
ajfa-989	131	9	correlations	correlation	NOUN
ajfa-989	131	10	are	be	AUX
ajfa-989	131	11	constant	constant	ADJ
ajfa-989	131	12	over	over	ADP
ajfa-989	131	13	time	time	NOUN
ajfa-989	131	14	,	,	PUNCT
ajfa-989	131	15	rolling	roll	VERB
ajfa-989	131	16	conditional	conditional	ADJ
ajfa-989	131	17	correlations	correlation	NOUN
ajfa-989	131	18	were	be	AUX
ajfa-989	131	19	estimated	estimate	VERB
ajfa-989	131	20	with	with	ADP
ajfa-989	131	21	a	a	DET
ajfa-989	131	22	window	window	NOUN
ajfa-989	131	23	size	size	NOUN
ajfa-989	131	24	set	set	VERB
ajfa-989	131	25	to	to	ADP
ajfa-989	131	26	six	six	NUM
ajfa-989	131	27	months	month	NOUN
ajfa-989	131	28	to	to	PART
ajfa-989	131	29	check	check	VERB
ajfa-989	131	30	the	the	DET
ajfa-989	131	31	validity	validity	NOUN
ajfa-989	131	32	of	of	ADP
ajfa-989	131	33	this	this	DET
ajfa-989	131	34	assumption	assumption	NOUN
ajfa-989	131	35	.	.	PUNCT
ajfa-989	132	1	table	table	NOUN
ajfa-989	132	2	2	2	NUM
ajfa-989	132	3	.	.	PUNCT
ajfa-989	133	1	bond	bond	NOUN
ajfa-989	133	2	-	-	PUNCT
ajfa-989	133	3	stock	stock	NOUN
ajfa-989	133	4	bivariate	bivariate	ADJ
ajfa-989	133	5	ccc	ccc	NOUN
ajfa-989	133	6	-	-	PUNCT
ajfa-989	133	7	garch	garch	NOUN
ajfa-989	133	8	(	(	PUNCT
ajfa-989	133	9	1	1	NUM
ajfa-989	133	10	,	,	PUNCT
ajfa-989	133	11	1	1	X
ajfa-989	133	12	)	)	PUNCT
ajfa-989	133	13	model	model	NOUN
ajfa-989	133	14			NOUN
ajfa-989	133	15			X
ajfa-989	133	16			NUM
ajfa-989	133	17			PROPN
ajfa-989	133	18			NOUN
ajfa-989	133	19	stock	stock	NOUN
ajfa-989	133	20	0.156	0.156	NUM
ajfa-989	133	21	*	*	PROPN
ajfa-989	133	22	0.080	0.080	NUM
ajfa-989	133	23	*	*	SYM
ajfa-989	133	24	0.021	0.021	NUM
ajfa-989	133	25	*	*	NOUN
ajfa-989	133	26	0.978	0.978	NUM
ajfa-989	133	27	*	*	NOUN
ajfa-989	133	28	0.213	0.213	NUM
ajfa-989	133	29	*	*	SYM
ajfa-989	133	30	(	(	PUNCT
ajfa-989	133	31	0.031	0.031	NUM
ajfa-989	133	32	)	)	PUNCT
ajfa-989	133	33	(	(	PUNCT
ajfa-989	133	34	0.000	0.000	NUM
ajfa-989	133	35	)	)	PUNCT
ajfa-989	133	36	(	(	PUNCT
ajfa-989	133	37	0.001	0.001	NUM
ajfa-989	133	38	)	)	PUNCT
ajfa-989	133	39	(	(	PUNCT
ajfa-989	133	40	0.001	0.001	NUM
ajfa-989	133	41	)	)	PUNCT
ajfa-989	133	42	bond	bond	NOUN
ajfa-989	133	43	0.061	0.061	NUM
ajfa-989	133	44	*	*	PUNCT
ajfa-989	133	45	0.006	0.006	NUM
ajfa-989	133	46	*	*	PUNCT
ajfa-989	133	47	0.080	0.080	NUM
ajfa-989	133	48	*	*	SYM
ajfa-989	133	49	0.919	0.919	NUM
ajfa-989	133	50	*	*	SYM
ajfa-989	133	51	(	(	PUNCT
ajfa-989	133	52	0.013	0.013	NUM
ajfa-989	133	53	)	)	PUNCT
ajfa-989	133	54	(	(	PUNCT
ajfa-989	133	55	0.007	0.007	NUM
ajfa-989	133	56	)	)	PUNCT
ajfa-989	133	57	(	(	PUNCT
ajfa-989	133	58	0.000	0.000	NUM
ajfa-989	133	59	)	)	PUNCT
ajfa-989	133	60	(	(	PUNCT
ajfa-989	133	61	0.005	0.005	NUM
ajfa-989	133	62	)	)	PUNCT
ajfa-989	133	63	(	(	PUNCT
ajfa-989	133	64	0.005	0.005	NUM
ajfa-989	133	65	)	)	PUNCT
ajfa-989	133	66	results	result	NOUN
ajfa-989	133	67	are	be	AUX
ajfa-989	133	68	reported	report	VERB
ajfa-989	133	69	from	from	ADP
ajfa-989	133	70	a	a	DET
ajfa-989	133	71	bivariate	bivariate	ADJ
ajfa-989	133	72	constant	constant	ADJ
ajfa-989	133	73	conditional	conditional	ADJ
ajfa-989	133	74	correlation	correlation	NOUN
ajfa-989	133	75	garch	garch	NOUN
ajfa-989	133	76	(	(	PUNCT
ajfa-989	133	77	1	1	NUM
ajfa-989	133	78	,	,	PUNCT
ajfa-989	133	79	1	1	NUM
ajfa-989	133	80	)	)	PUNCT
ajfa-989	133	81	process	process	NOUN
ajfa-989	133	82	;	;	PUNCT
ajfa-989	133	83	conducted	conduct	VERB
ajfa-989	133	84	by	by	ADP
ajfa-989	133	85	using	use	VERB
ajfa-989	133	86	daily	daily	ADJ
ajfa-989	133	87	returns	return	NOUN
ajfa-989	133	88	on	on	ADP
ajfa-989	133	89	bond	bond	NOUN
ajfa-989	133	90	and	and	CCONJ
ajfa-989	133	91	stock	stock	NOUN
ajfa-989	133	92	market	market	NOUN
ajfa-989	133	93	indices	index	NOUN
ajfa-989	133	94	for	for	ADP
ajfa-989	133	95	russia	russia	PROPN
ajfa-989	133	96	from	from	ADP
ajfa-989	133	97	july	july	PROPN
ajfa-989	133	98	1994	1994	NUM
ajfa-989	133	99	to	to	ADP
ajfa-989	133	100	december	december	PROPN
ajfa-989	133	101	2007	2007	NUM
ajfa-989	133	102	.	.	PUNCT
ajfa-989	134	1	in	in	ADP
ajfa-989	134	2	the	the	DET
ajfa-989	134	3	table	table	NOUN
ajfa-989	134	4	,	,	PUNCT
ajfa-989	134	5			NOUN
ajfa-989	134	6	represents	represent	VERB
ajfa-989	134	7	the	the	DET
ajfa-989	134	8	constant	constant	ADJ
ajfa-989	134	9	from	from	ADP
ajfa-989	134	10	the	the	DET
ajfa-989	134	11	mean	mean	ADJ
ajfa-989	134	12	equation	equation	NOUN
ajfa-989	134	13	whereas	whereas	SCONJ
ajfa-989	134	14			PROPN
ajfa-989	134	15	,	,	PUNCT
ajfa-989	134	16			X
ajfa-989	134	17	and	and	CCONJ
ajfa-989	134	18			PROPN
ajfa-989	134	19	are	be	AUX
ajfa-989	134	20	the	the	DET
ajfa-989	134	21	parameters	parameter	NOUN
ajfa-989	134	22	of	of	ADP
ajfa-989	134	23	bivariate	bivariate	ADJ
ajfa-989	134	24	garch	garch	NOUN
ajfa-989	134	25	processes	process	NOUN
ajfa-989	134	26	.	.	PUNCT
ajfa-989	135	1	the	the	DET
ajfa-989	135	2	parameter	parameter	NOUN
ajfa-989	135	3			ADP
ajfa-989	135	4	stands	stand	VERB
ajfa-989	135	5	for	for	ADP
ajfa-989	135	6	the	the	DET
ajfa-989	135	7	correlation	correlation	NOUN
ajfa-989	135	8	between	between	ADP
ajfa-989	135	9	two	two	NUM
ajfa-989	135	10	assets	asset	NOUN
ajfa-989	135	11	.	.	PUNCT
ajfa-989	136	1	standard	standard	ADJ
ajfa-989	136	2	errors	error	NOUN
ajfa-989	136	3	are	be	AUX
ajfa-989	136	4	in	in	ADP
ajfa-989	136	5	(	(	PUNCT
ajfa-989	136	6	)	)	PUNCT
ajfa-989	136	7	.	.	PUNCT
ajfa-989	137	1	*	*	PUNCT
ajfa-989	137	2	indicates	indicate	VERB
ajfa-989	137	3	the	the	DET
ajfa-989	137	4	significance	significance	NOUN
ajfa-989	137	5	at	at	ADP
ajfa-989	137	6	5	5	NUM
ajfa-989	137	7	%	%	NOUN
ajfa-989	137	8	level	level	NOUN
ajfa-989	137	9	.	.	PUNCT
ajfa-989	138	1	the	the	DET
ajfa-989	138	2	developments	development	NOUN
ajfa-989	138	3	of	of	ADP
ajfa-989	138	4	the	the	DET
ajfa-989	138	5	stock	stock	NOUN
ajfa-989	138	6	–	–	PUNCT
ajfa-989	138	7	bond	bond	NOUN
ajfa-989	138	8	return	return	NOUN
ajfa-989	138	9	correlations	correlation	NOUN
ajfa-989	138	10	in	in	ADP
ajfa-989	138	11	the	the	DET
ajfa-989	138	12	russian	russian	ADJ
ajfa-989	138	13	equity	equity	NOUN
ajfa-989	138	14	market	market	NOUN
ajfa-989	138	15	indices	index	NOUN
ajfa-989	138	16	and	and	CCONJ
ajfa-989	138	17	the	the	DET
ajfa-989	138	18	jpm	jpm	PROPN
ajfa-989	138	19	embi	embi	PROPN
ajfa-989	138	20	russia	russia	PROPN
ajfa-989	138	21	index	index	NOUN
ajfa-989	138	22	are	be	AUX
ajfa-989	138	23	plotted	plot	VERB
ajfa-989	138	24	in	in	ADP
ajfa-989	138	25	figure	figure	NOUN
ajfa-989	138	26	2	2	NUM
ajfa-989	138	27	.	.	PUNCT
ajfa-989	139	1	the	the	DET
ajfa-989	139	2	gray	gray	ADJ
ajfa-989	139	3	line	line	NOUN
ajfa-989	139	4	represents	represent	VERB
ajfa-989	139	5	a	a	DET
ajfa-989	139	6	six	six	NUM
ajfa-989	139	7	-	-	PUNCT
ajfa-989	139	8	month	month	NOUN
ajfa-989	139	9	rolling	rolling	ADJ
ajfa-989	139	10	window	window	NOUN
ajfa-989	139	11	correlation	correlation	NOUN
ajfa-989	139	12	,	,	PUNCT
ajfa-989	139	13	whereas	whereas	SCONJ
ajfa-989	139	14	the	the	DET
ajfa-989	139	15	brown	brown	ADJ
ajfa-989	139	16	line	line	NOUN
ajfa-989	139	17	stands	stand	VERB
ajfa-989	139	18	for	for	ADP
ajfa-989	139	19	conditional	conditional	ADJ
ajfa-989	139	20	correlation	correlation	NOUN
ajfa-989	139	21	produced	produce	VERB
ajfa-989	139	22	by	by	ADP
ajfa-989	139	23	the	the	DET
ajfa-989	139	24	dcc	dcc	PROPN
ajfa-989	139	25	model	model	NOUN
ajfa-989	139	26	.	.	PUNCT
ajfa-989	140	1	several	several	ADJ
ajfa-989	140	2	interesting	interesting	ADJ
ajfa-989	140	3	features	feature	NOUN
ajfa-989	140	4	emerge	emerge	VERB
ajfa-989	140	5	from	from	ADP
ajfa-989	140	6	this	this	DET
ajfa-989	140	7	figure	figure	NOUN
ajfa-989	140	8	.	.	PUNCT
ajfa-989	141	1	except	except	SCONJ
ajfa-989	141	2	for	for	ADP
ajfa-989	141	3	the	the	DET
ajfa-989	141	4	period	period	NOUN
ajfa-989	141	5	of	of	ADP
ajfa-989	141	6	1995–96	1995–96	PROPN
ajfa-989	141	7	the	the	DET
ajfa-989	141	8	correlations	correlation	NOUN
ajfa-989	141	9	in	in	ADP
ajfa-989	141	10	both	both	DET
ajfa-989	141	11	indices	index	NOUN
ajfa-989	141	12	are	be	AUX
ajfa-989	141	13	positive	positive	ADJ
ajfa-989	141	14	.	.	PUNCT
ajfa-989	142	1	from	from	ADP
ajfa-989	142	2	the	the	DET
ajfa-989	142	3	first	first	ADJ
ajfa-989	142	4	quarter	quarter	NOUN
ajfa-989	142	5	of	of	ADP
ajfa-989	142	6	1996	1996	NUM
ajfa-989	142	7	the	the	DET
ajfa-989	142	8	correlations	correlation	NOUN
ajfa-989	142	9	were	be	AUX
ajfa-989	142	10	constantly	constantly	ADV
ajfa-989	142	11	increasing	increase	VERB
ajfa-989	142	12	until	until	ADP
ajfa-989	142	13	the	the	DET
ajfa-989	142	14	collapse	collapse	NOUN
ajfa-989	142	15	of	of	ADP
ajfa-989	142	16	the	the	DET
ajfa-989	142	17	russian	russian	ADJ
ajfa-989	142	18	financial	financial	ADJ
ajfa-989	142	19	market	market	NOUN
ajfa-989	142	20	in	in	ADP
ajfa-989	142	21	august	august	PROPN
ajfa-989	142	22	1998	1998	NUM
ajfa-989	142	23	.	.	PUNCT
ajfa-989	143	1	moreover	moreover	ADV
ajfa-989	143	2	,	,	PUNCT
ajfa-989	143	3	figure	figure	NOUN
ajfa-989	143	4	3	3	NUM
ajfa-989	143	5	indicates	indicate	VERB
ajfa-989	143	6	that	that	SCONJ
ajfa-989	143	7	the	the	DET
ajfa-989	143	8	stock	stock	NOUN
ajfa-989	143	9	–	–	PUNCT
ajfa-989	143	10	bond	bond	NOUN
ajfa-989	143	11	correlation	correlation	NOUN
ajfa-989	143	12	fluctuated	fluctuate	VERB
ajfa-989	143	13	substantially	substantially	ADV
ajfa-989	143	14	during	during	ADP
ajfa-989	143	15	the	the	DET
ajfa-989	143	16	period	period	NOUN
ajfa-989	143	17	of	of	ADP
ajfa-989	143	18	1999	1999	NUM
ajfa-989	143	19	and	and	CCONJ
ajfa-989	143	20	2003	2003	NUM
ajfa-989	143	21	and	and	CCONJ
ajfa-989	143	22	then	then	ADV
ajfa-989	143	23	it	it	PRON
ajfa-989	143	24	became	become	VERB
ajfa-989	143	25	rather	rather	ADV
ajfa-989	143	26	stable	stable	ADJ
ajfa-989	143	27	.	.	PUNCT
ajfa-989	144	1	this	this	PRON
ajfa-989	144	2	may	may	AUX
ajfa-989	144	3	pose	pose	VERB
ajfa-989	144	4	challenges	challenge	NOUN
ajfa-989	144	5	for	for	ADP
ajfa-989	144	6	asset	asset	NOUN
ajfa-989	144	7	allocation	allocation	NOUN
ajfa-989	144	8	and	and	CCONJ
ajfa-989	144	9	risk	risk	NOUN
ajfa-989	144	10	management	management	NOUN
ajfa-989	144	11	procedures	procedure	NOUN
ajfa-989	144	12	.	.	PUNCT
ajfa-989	145	1	it	it	PRON
ajfa-989	145	2	is	be	AUX
ajfa-989	145	3	apparent	apparent	ADJ
ajfa-989	145	4	asian	asian	ADJ
ajfa-989	145	5	journal	journal	NOUN
ajfa-989	145	6	of	of	ADP
ajfa-989	145	7	finance	finance	PROPN
ajfa-989	145	8	&	&	CCONJ
ajfa-989	145	9	accounting	accounting	PROPN
ajfa-989	145	10	issn	issn	PROPN
ajfa-989	145	11	1946	1946	NUM
ajfa-989	145	12	-	-	PUNCT
ajfa-989	145	13	052x	052x	NOUN
ajfa-989	145	14	2011	2011	NUM
ajfa-989	145	15	,	,	PUNCT
ajfa-989	145	16	vol	vol	NOUN
ajfa-989	145	17	.	.	PROPN
ajfa-989	146	1	3	3	NUM
ajfa-989	146	2	,	,	PUNCT
ajfa-989	146	3	no	no	INTJ
ajfa-989	146	4	.	.	NOUN
ajfa-989	146	5	1	1	NUM
ajfa-989	146	6	:	:	PUNCT
ajfa-989	146	7	e5	e5	PROPN
ajfa-989	146	8	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-989	146	9	80	80	NUM
ajfa-989	146	10	that	that	SCONJ
ajfa-989	146	11	the	the	DET
ajfa-989	146	12	relation	relation	NOUN
ajfa-989	146	13	between	between	ADP
ajfa-989	146	14	stock	stock	NOUN
ajfa-989	146	15	and	and	CCONJ
ajfa-989	146	16	bond	bond	NOUN
ajfa-989	146	17	returns	return	NOUN
ajfa-989	146	18	has	have	AUX
ajfa-989	146	19	been	be	AUX
ajfa-989	146	20	rather	rather	ADV
ajfa-989	146	21	unstable	unstable	ADJ
ajfa-989	146	22	over	over	ADP
ajfa-989	146	23	time	time	NOUN
ajfa-989	146	24	,	,	PUNCT
ajfa-989	146	25	which	which	PRON
ajfa-989	146	26	is	be	AUX
ajfa-989	146	27	clear	clear	ADJ
ajfa-989	146	28	evidence	evidence	NOUN
ajfa-989	146	29	against	against	ADP
ajfa-989	146	30	the	the	DET
ajfa-989	146	31	constant	constant	ADJ
ajfa-989	146	32	correlation	correlation	NOUN
ajfa-989	146	33	hypothesis	hypothesis	NOUN
ajfa-989	146	34	.	.	PUNCT
ajfa-989	147	1	-0.2	-0.2	PROPN
ajfa-989	147	2	-0.1	-0.1	PROPN
ajfa-989	147	3	0.0	0.0	NUM
ajfa-989	147	4	0.1	0.1	NUM
ajfa-989	147	5	0.2	0.2	NUM
ajfa-989	147	6	0.3	0.3	NUM
ajfa-989	147	7	0.4	0.4	NUM
ajfa-989	147	8	0.5	0.5	NUM
ajfa-989	147	9	0.6	0.6	NUM
ajfa-989	147	10	jan-94	jan-94	PROPN
ajfa-989	147	11	jan-96	jan-96	PROPN
ajfa-989	147	12	jan-98	jan-98	PROPN
ajfa-989	147	13	jan-00	jan-00	PROPN
ajfa-989	147	14	jan-02	jan-02	CCONJ
ajfa-989	147	15	jan-04	jan-04	PROPN
ajfa-989	147	16	jan-06	jan-06	PROPN
ajfa-989	147	17	rolling	rolling	PROPN
ajfa-989	147	18	corr	corr	PROPN
ajfa-989	147	19	.	.	PUNCT
ajfa-989	148	1	cond	cond	NOUN
ajfa-989	148	2	.	.	PUNCT
ajfa-989	149	1	corr	corr	PROPN
ajfa-989	149	2	figure	figure	NOUN
ajfa-989	149	3	2	2	NUM
ajfa-989	149	4	.	.	NOUN
ajfa-989	149	5	six	six	NUM
ajfa-989	149	6	-	-	PUNCT
ajfa-989	149	7	month	month	NOUN
ajfa-989	149	8	rolling	rolling	ADJ
ajfa-989	149	9	window	window	NOUN
ajfa-989	149	10	correlation	correlation	NOUN
ajfa-989	149	11	and	and	CCONJ
ajfa-989	149	12	conditional	conditional	ADJ
ajfa-989	149	13	correlation	correlation	NOUN
ajfa-989	149	14	between	between	ADP
ajfa-989	149	15	russian	russian	ADJ
ajfa-989	149	16	equity	equity	NOUN
ajfa-989	149	17	market	market	NOUN
ajfa-989	149	18	indices	index	NOUN
ajfa-989	149	19	and	and	CCONJ
ajfa-989	149	20	the	the	DET
ajfa-989	149	21	jpm	jpm	PROPN
ajfa-989	149	22	embi	embi	PROPN
ajfa-989	149	23	russia	russia	PROPN
ajfa-989	149	24	index	index	NOUN
ajfa-989	149	25	from	from	ADP
ajfa-989	149	26	1994	1994	NUM
ajfa-989	149	27	to	to	ADP
ajfa-989	149	28	2007	2007	NUM
ajfa-989	149	29	.	.	PUNCT
ajfa-989	150	1	conditional	conditional	ADJ
ajfa-989	150	2	correlation	correlation	NOUN
ajfa-989	150	3	is	be	AUX
ajfa-989	150	4	calculated	calculate	VERB
ajfa-989	150	5	on	on	ADP
ajfa-989	150	6	the	the	DET
ajfa-989	150	7	basis	basis	NOUN
ajfa-989	150	8	of	of	ADP
ajfa-989	150	9	the	the	DET
ajfa-989	150	10	estimates	estimate	NOUN
ajfa-989	150	11	in	in	ADP
ajfa-989	150	12	table	table	NOUN
ajfa-989	150	13	3	3	NUM
ajfa-989	150	14	.	.	PUNCT
ajfa-989	151	1	it	it	PRON
ajfa-989	151	2	may	may	AUX
ajfa-989	151	3	also	also	ADV
ajfa-989	151	4	be	be	AUX
ajfa-989	151	5	noted	note	VERB
ajfa-989	151	6	from	from	ADP
ajfa-989	151	7	figure	figure	NOUN
ajfa-989	151	8	2	2	NUM
ajfa-989	151	9	that	that	SCONJ
ajfa-989	151	10	the	the	DET
ajfa-989	151	11	conditional	conditional	ADJ
ajfa-989	151	12	and	and	CCONJ
ajfa-989	151	13	rolling	rolling	ADJ
ajfa-989	151	14	window	window	NOUN
ajfa-989	151	15	stock	stock	NOUN
ajfa-989	151	16	–	–	PUNCT
ajfa-989	151	17	bond	bond	NOUN
ajfa-989	151	18	return	return	NOUN
ajfa-989	151	19	correlations	correlation	NOUN
ajfa-989	151	20	exhibit	exhibit	VERB
ajfa-989	151	21	a	a	DET
ajfa-989	151	22	very	very	ADV
ajfa-989	151	23	similar	similar	ADJ
ajfa-989	151	24	pattern	pattern	NOUN
ajfa-989	151	25	over	over	ADP
ajfa-989	151	26	time	time	NOUN
ajfa-989	151	27	.	.	PUNCT
ajfa-989	152	1	however	however	ADV
ajfa-989	152	2	,	,	PUNCT
ajfa-989	152	3	as	as	SCONJ
ajfa-989	152	4	expected	expect	VERB
ajfa-989	152	5	,	,	PUNCT
ajfa-989	152	6	the	the	DET
ajfa-989	152	7	rolling	rolling	ADJ
ajfa-989	152	8	window	window	NOUN
ajfa-989	152	9	correlation	correlation	NOUN
ajfa-989	152	10	estimates	estimate	NOUN
ajfa-989	152	11	appear	appear	VERB
ajfa-989	152	12	to	to	PART
ajfa-989	152	13	be	be	AUX
ajfa-989	152	14	considerably	considerably	ADV
ajfa-989	152	15	more	more	ADV
ajfa-989	152	16	unpredictable	unpredictable	ADJ
ajfa-989	152	17	than	than	ADP
ajfa-989	152	18	the	the	DET
ajfa-989	152	19	conditional	conditional	ADJ
ajfa-989	152	20	correlations	correlation	NOUN
ajfa-989	152	21	produced	produce	VERB
ajfa-989	152	22	by	by	ADP
ajfa-989	152	23	the	the	DET
ajfa-989	152	24	dcc	dcc	PROPN
ajfa-989	152	25	model	model	NOUN
ajfa-989	152	26	.	.	PUNCT
ajfa-989	153	1	moreover	moreover	ADV
ajfa-989	153	2	,	,	PUNCT
ajfa-989	153	3	the	the	DET
ajfa-989	153	4	dcc	dcc	PROPN
ajfa-989	153	5	estimates	estimate	NOUN
ajfa-989	153	6	should	should	AUX
ajfa-989	153	7	account	account	VERB
ajfa-989	153	8	for	for	ADP
ajfa-989	153	9	the	the	DET
ajfa-989	153	10	changes	change	NOUN
ajfa-989	153	11	in	in	ADP
ajfa-989	153	12	volatility	volatility	NOUN
ajfa-989	153	13	,	,	PUNCT
ajfa-989	153	14	and	and	CCONJ
ajfa-989	153	15	thus	thus	ADV
ajfa-989	153	16	be	be	AUX
ajfa-989	153	17	free	free	ADJ
ajfa-989	153	18	from	from	ADP
ajfa-989	153	19	the	the	DET
ajfa-989	153	20	possible	possible	ADJ
ajfa-989	153	21	rising	rise	VERB
ajfa-989	153	22	bias	bias	NOUN
ajfa-989	153	23	during	during	ADP
ajfa-989	153	24	the	the	DET
ajfa-989	153	25	periods	period	NOUN
ajfa-989	153	26	of	of	ADP
ajfa-989	153	27	economic	economic	ADJ
ajfa-989	153	28	meltdown	meltdown	NOUN
ajfa-989	153	29	.	.	PUNCT
ajfa-989	154	1	4.2	4.2	NUM
ajfa-989	154	2	dynamic	dynamic	ADJ
ajfa-989	154	3	conditional	conditional	ADJ
ajfa-989	154	4	correlation	correlation	NOUN
ajfa-989	154	5	estimates	estimate	VERB
ajfa-989	154	6	acknowledging	acknowledge	VERB
ajfa-989	154	7	the	the	DET
ajfa-989	154	8	reality	reality	NOUN
ajfa-989	154	9	that	that	SCONJ
ajfa-989	154	10	the	the	DET
ajfa-989	154	11	constant	constant	ADJ
ajfa-989	154	12	correlation	correlation	NOUN
ajfa-989	154	13	coefficient	coefficient	NOUN
ajfa-989	154	14	fails	fail	VERB
ajfa-989	154	15	to	to	PART
ajfa-989	154	16	reveal	reveal	VERB
ajfa-989	154	17	the	the	DET
ajfa-989	154	18	dynamic	dynamic	ADJ
ajfa-989	154	19	market	market	NOUN
ajfa-989	154	20	conditions	condition	NOUN
ajfa-989	154	21	in	in	ADP
ajfa-989	154	22	response	response	NOUN
ajfa-989	154	23	to	to	ADP
ajfa-989	154	24	innovation	innovation	NOUN
ajfa-989	154	25	,	,	PUNCT
ajfa-989	154	26	next	next	ADP
ajfa-989	154	27	the	the	DET
ajfa-989	154	28	dcc	dcc	PROPN
ajfa-989	154	29	grch	grch	NOUN
ajfa-989	154	30	(	(	PUNCT
ajfa-989	154	31	1	1	NUM
ajfa-989	154	32	,	,	PUNCT
ajfa-989	154	33	1	1	X
ajfa-989	154	34	)	)	PUNCT
ajfa-989	154	35	model	model	NOUN
ajfa-989	154	36	proposed	propose	VERB
ajfa-989	154	37	by	by	ADP
ajfa-989	154	38	engle	engle	PROPN
ajfa-989	154	39	(	(	PUNCT
ajfa-989	154	40	2002	2002	NUM
ajfa-989	154	41	)	)	PUNCT
ajfa-989	154	42	was	be	AUX
ajfa-989	154	43	applied	apply	VERB
ajfa-989	154	44	.	.	PUNCT
ajfa-989	155	1	basically	basically	ADV
ajfa-989	155	2	,	,	PUNCT
ajfa-989	155	3	the	the	DET
ajfa-989	155	4	dcc	dcc	PROPN
ajfa-989	155	5	-	-	PUNCT
ajfa-989	155	6	garch	garch	NOUN
ajfa-989	155	7	model	model	NOUN
ajfa-989	155	8	estimates	estimate	VERB
ajfa-989	155	9	conditional	conditional	ADJ
ajfa-989	155	10	volatilities	volatility	NOUN
ajfa-989	155	11	and	and	CCONJ
ajfa-989	155	12	correlations	correlation	NOUN
ajfa-989	155	13	in	in	ADP
ajfa-989	155	14	two	two	NUM
ajfa-989	155	15	steps	step	NOUN
ajfa-989	155	16	.	.	PUNCT
ajfa-989	156	1	in	in	ADP
ajfa-989	156	2	the	the	DET
ajfa-989	156	3	first	first	ADJ
ajfa-989	156	4	step	step	NOUN
ajfa-989	156	5	the	the	DET
ajfa-989	156	6	mean	mean	ADJ
ajfa-989	156	7	equation	equation	NOUN
ajfa-989	156	8	of	of	ADP
ajfa-989	156	9	each	each	DET
ajfa-989	156	10	asset	asset	NOUN
ajfa-989	156	11	in	in	ADP
ajfa-989	156	12	the	the	DET
ajfa-989	156	13	sample	sample	NOUN
ajfa-989	156	14	,	,	PUNCT
ajfa-989	156	15	nested	nest	VERB
ajfa-989	156	16	in	in	ADP
ajfa-989	156	17	a	a	DET
ajfa-989	156	18	univariate	univariate	ADJ
ajfa-989	156	19	garch	garch	NOUN
ajfa-989	156	20	model	model	NOUN
ajfa-989	156	21	of	of	ADP
ajfa-989	156	22	its	its	PRON
ajfa-989	156	23	conditional	conditional	ADJ
ajfa-989	156	24	variance	variance	NOUN
ajfa-989	156	25	,	,	PUNCT
ajfa-989	156	26	is	be	AUX
ajfa-989	156	27	estimated	estimate	VERB
ajfa-989	156	28	(	(	PUNCT
ajfa-989	156	29	see	see	VERB
ajfa-989	156	30	figure	figure	NOUN
ajfa-989	156	31	3	3	NUM
ajfa-989	156	32	)	)	PUNCT
ajfa-989	156	33	,	,	PUNCT
ajfa-989	156	34	whereas	whereas	SCONJ
ajfa-989	156	35	the	the	DET
ajfa-989	156	36	second	second	ADJ
ajfa-989	156	37	step	step	NOUN
ajfa-989	156	38	illustrates	illustrate	VERB
ajfa-989	156	39	the	the	DET
ajfa-989	156	40	development	development	NOUN
ajfa-989	156	41	of	of	ADP
ajfa-989	156	42	the	the	DET
ajfa-989	156	43	time	time	NOUN
ajfa-989	156	44	varying	vary	VERB
ajfa-989	156	45	correlation	correlation	NOUN
ajfa-989	156	46	matrix	matrix	NOUN
ajfa-989	156	47	(	(	PUNCT
ajfa-989	156	48	see	see	VERB
ajfa-989	156	49	figure	figure	NOUN
ajfa-989	156	50	2	2	NUM
ajfa-989	156	51	)	)	PUNCT
ajfa-989	156	52	.	.	PUNCT
ajfa-989	157	1	the	the	DET
ajfa-989	157	2	results	result	NOUN
ajfa-989	157	3	in	in	ADP
ajfa-989	157	4	table	table	NOUN
ajfa-989	157	5	2	2	NUM
ajfa-989	157	6	confirm	confirm	VERB
ajfa-989	157	7	that	that	SCONJ
ajfa-989	157	8	the	the	DET
ajfa-989	157	9	conditional	conditional	ADJ
ajfa-989	157	10	correlations	correlation	NOUN
ajfa-989	157	11	of	of	ADP
ajfa-989	157	12	bond	bond	NOUN
ajfa-989	157	13	and	and	CCONJ
ajfa-989	157	14	stock	stock	NOUN
ajfa-989	157	15	returns	return	NOUN
ajfa-989	157	16	are	be	AUX
ajfa-989	157	17	highly	highly	ADV
ajfa-989	157	18	dynamic	dynamic	ADJ
ajfa-989	157	19	and	and	CCONJ
ajfa-989	157	20	time	time	NOUN
ajfa-989	157	21	varying	vary	VERB
ajfa-989	157	22	.	.	PUNCT
ajfa-989	158	1	this	this	PRON
ajfa-989	158	2	is	be	AUX
ajfa-989	158	3	evident	evident	ADJ
ajfa-989	158	4	from	from	ADP
ajfa-989	158	5	figure	figure	NOUN
ajfa-989	158	6	3	3	NUM
ajfa-989	158	7	as	as	ADV
ajfa-989	158	8	well	well	ADV
ajfa-989	158	9	,	,	PUNCT
ajfa-989	158	10	which	which	PRON
ajfa-989	158	11	presents	present	VERB
ajfa-989	158	12	the	the	DET
ajfa-989	158	13	plots	plot	NOUN
ajfa-989	158	14	of	of	ADP
ajfa-989	158	15	conditional	conditional	ADJ
ajfa-989	158	16	variances	variance	NOUN
ajfa-989	158	17	based	base	VERB
ajfa-989	158	18	on	on	ADP
ajfa-989	158	19	the	the	DET
ajfa-989	158	20	estimation	estimation	NOUN
ajfa-989	158	21	done	do	VERB
ajfa-989	158	22	in	in	ADP
ajfa-989	158	23	the	the	DET
ajfa-989	158	24	first	first	ADJ
ajfa-989	158	25	step	step	NOUN
ajfa-989	158	26	of	of	ADP
ajfa-989	158	27	the	the	DET
ajfa-989	158	28	dcc	dcc	PROPN
ajfa-989	158	29	estimation	estimation	NOUN
ajfa-989	158	30	procedure	procedure	NOUN
ajfa-989	158	31	.	.	PUNCT
ajfa-989	159	1	asian	asian	ADJ
ajfa-989	159	2	journal	journal	PROPN
ajfa-989	159	3	of	of	ADP
ajfa-989	159	4	finance	finance	PROPN
ajfa-989	159	5	&	&	CCONJ
ajfa-989	159	6	accounting	accounting	PROPN
ajfa-989	159	7	issn	issn	PROPN
ajfa-989	159	8	1946	1946	NUM
ajfa-989	159	9	-	-	PUNCT
ajfa-989	159	10	052x	052x	NOUN
ajfa-989	159	11	2011	2011	NUM
ajfa-989	159	12	,	,	PUNCT
ajfa-989	159	13	vol	vol	NOUN
ajfa-989	159	14	.	.	PROPN
ajfa-989	160	1	3	3	NUM
ajfa-989	160	2	,	,	PUNCT
ajfa-989	160	3	no	no	INTJ
ajfa-989	160	4	.	.	NOUN
ajfa-989	160	5	1	1	NUM
ajfa-989	160	6	:	:	PUNCT
ajfa-989	160	7	e5	e5	PROPN
ajfa-989	160	8	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-989	160	9	81	81	NUM
ajfa-989	160	10	0	0	NUM
ajfa-989	160	11	2	2	NUM
ajfa-989	160	12	4	4	NUM
ajfa-989	160	13	6	6	NUM
ajfa-989	160	14	8	8	NUM
ajfa-989	160	15	10	10	NUM
ajfa-989	160	16	12	12	NUM
ajfa-989	160	17	14	14	NUM
ajfa-989	160	18	16	16	NUM
ajfa-989	160	19	18	18	NUM
ajfa-989	160	20	20	20	NUM
ajfa-989	160	21	jul-94	jul-94	NOUN
ajfa-989	160	22	jul-96	jul-96	ADP
ajfa-989	160	23	jul-98	jul-98	PRON
ajfa-989	160	24	jul-00	jul-00	PROPN
ajfa-989	160	25	jul-02	jul-02	PROPN
ajfa-989	160	26	jul-04	jul-04	PROPN
ajfa-989	160	27	jul-06	jul-06	PROPN
ajfa-989	160	28	hbond	hbond	PROPN
ajfa-989	160	29	hstock	hstock	NOUN
ajfa-989	160	30	figure	figure	NOUN
ajfa-989	160	31	3	3	NUM
ajfa-989	160	32	.	.	PUNCT
ajfa-989	161	1	conditional	conditional	ADJ
ajfa-989	161	2	volatilities	volatility	NOUN
ajfa-989	161	3	in	in	ADP
ajfa-989	161	4	russian	russian	ADJ
ajfa-989	161	5	equity	equity	NOUN
ajfa-989	161	6	market	market	NOUN
ajfa-989	161	7	indices	index	NOUN
ajfa-989	161	8	and	and	CCONJ
ajfa-989	161	9	the	the	DET
ajfa-989	161	10	jpm	jpm	PROPN
ajfa-989	161	11	embi	embi	PROPN
ajfa-989	161	12	russia	russia	PROPN
ajfa-989	161	13	index	index	NOUN
ajfa-989	161	14	from	from	ADP
ajfa-989	161	15	1994	1994	NUM
ajfa-989	161	16	to	to	ADP
ajfa-989	161	17	2007	2007	NUM
ajfa-989	161	18	.	.	PUNCT
ajfa-989	162	1	the	the	DET
ajfa-989	162	2	figure	figure	NOUN
ajfa-989	162	3	above	above	ADV
ajfa-989	162	4	shows	show	VERB
ajfa-989	162	5	that	that	SCONJ
ajfa-989	162	6	the	the	DET
ajfa-989	162	7	conditional	conditional	ADJ
ajfa-989	162	8	variances	variance	NOUN
ajfa-989	162	9	are	be	AUX
ajfa-989	162	10	not	not	PART
ajfa-989	162	11	constant	constant	ADJ
ajfa-989	162	12	over	over	ADP
ajfa-989	162	13	time	time	NOUN
ajfa-989	162	14	and	and	CCONJ
ajfa-989	162	15	especially	especially	ADV
ajfa-989	162	16	volatile	volatile	ADJ
ajfa-989	162	17	during	during	ADP
ajfa-989	162	18	the	the	DET
ajfa-989	162	19	periods	period	NOUN
ajfa-989	162	20	before	before	ADV
ajfa-989	162	21	and	and	CCONJ
ajfa-989	162	22	during	during	ADP
ajfa-989	162	23	the	the	DET
ajfa-989	162	24	russian	russian	ADJ
ajfa-989	162	25	financial	financial	ADJ
ajfa-989	162	26	crisis	crisis	NOUN
ajfa-989	162	27	of	of	ADP
ajfa-989	162	28	1998	1998	NUM
ajfa-989	162	29	.	.	PUNCT
ajfa-989	163	1	moreover	moreover	ADV
ajfa-989	163	2	it	it	PRON
ajfa-989	163	3	seems	seem	VERB
ajfa-989	163	4	that	that	SCONJ
ajfa-989	163	5	the	the	DET
ajfa-989	163	6	volatilities	volatility	NOUN
ajfa-989	163	7	of	of	ADP
ajfa-989	163	8	russian	russian	ADJ
ajfa-989	163	9	stocks	stock	NOUN
ajfa-989	163	10	and	and	CCONJ
ajfa-989	163	11	bonds	bond	NOUN
ajfa-989	163	12	move	move	VERB
ajfa-989	163	13	together	together	ADV
ajfa-989	163	14	,	,	PUNCT
ajfa-989	163	15	which	which	PRON
ajfa-989	163	16	is	be	AUX
ajfa-989	163	17	consistent	consistent	ADJ
ajfa-989	163	18	with	with	ADP
ajfa-989	163	19	prior	prior	ADJ
ajfa-989	163	20	research	research	NOUN
ajfa-989	163	21	.	.	PUNCT
ajfa-989	164	1	for	for	ADP
ajfa-989	164	2	instance	instance	NOUN
ajfa-989	164	3	,	,	PUNCT
ajfa-989	164	4	schwert	schwert	PROPN
ajfa-989	164	5	(	(	PUNCT
ajfa-989	164	6	1989	1989	NUM
ajfa-989	164	7	)	)	PUNCT
ajfa-989	164	8	found	find	VERB
ajfa-989	164	9	that	that	SCONJ
ajfa-989	164	10	volatily	volatily	ADV
ajfa-989	164	11	in	in	ADP
ajfa-989	164	12	the	the	DET
ajfa-989	164	13	us	us	PROPN
ajfa-989	164	14	stock	stock	NOUN
ajfa-989	164	15	and	and	CCONJ
ajfa-989	164	16	bond	bond	NOUN
ajfa-989	164	17	market	market	NOUN
ajfa-989	164	18	tend	tend	VERB
ajfa-989	164	19	to	to	PART
ajfa-989	164	20	move	move	VERB
ajfa-989	164	21	together	together	ADV
ajfa-989	164	22	.	.	PUNCT
ajfa-989	165	1	from	from	ADP
ajfa-989	165	2	table	table	NOUN
ajfa-989	165	3	3	3	NUM
ajfa-989	165	4	,	,	PUNCT
ajfa-989	165	5	it	it	PRON
ajfa-989	165	6	is	be	AUX
ajfa-989	165	7	evident	evident	ADJ
ajfa-989	165	8	that	that	SCONJ
ajfa-989	165	9	the	the	DET
ajfa-989	165	10	estimates	estimate	NOUN
ajfa-989	165	11	of	of	ADP
ajfa-989	165	12	the	the	DET
ajfa-989	165	13	mean	mean	ADJ
ajfa-989	165	14	equation	equation	NOUN
ajfa-989	165	15	and	and	CCONJ
ajfa-989	165	16	variance	variance	NOUN
ajfa-989	165	17	equation	equation	NOUN
ajfa-989	165	18	are	be	AUX
ajfa-989	165	19	statistically	statistically	ADV
ajfa-989	165	20	significant	significant	ADJ
ajfa-989	165	21	which	which	PRON
ajfa-989	165	22	is	be	AUX
ajfa-989	165	23	consistent	consistent	ADJ
ajfa-989	165	24	with	with	ADP
ajfa-989	165	25	time	time	NOUN
ajfa-989	165	26	varying	vary	VERB
ajfa-989	165	27	volatility	volatility	NOUN
ajfa-989	165	28	and	and	CCONJ
ajfa-989	165	29	justifies	justify	VERB
ajfa-989	165	30	a	a	DET
ajfa-989	165	31	clustering	cluster	VERB
ajfa-989	165	32	phenomenon	phenomenon	NOUN
ajfa-989	165	33	in	in	ADP
ajfa-989	165	34	the	the	DET
ajfa-989	165	35	evolution	evolution	NOUN
ajfa-989	165	36	of	of	ADP
ajfa-989	165	37	volatility	volatility	NOUN
ajfa-989	165	38	.	.	PUNCT
ajfa-989	166	1	moreover	moreover	ADV
ajfa-989	166	2	,	,	PUNCT
ajfa-989	166	3	the	the	DET
ajfa-989	166	4	sum	sum	NOUN
ajfa-989	166	5	of	of	ADP
ajfa-989	166	6	estimated	estimate	VERB
ajfa-989	166	7	coefficients	coefficient	NOUN
ajfa-989	166	8	(	(	PUNCT
ajfa-989	166	9	dccs+	dccs+	PROPN
ajfa-989	166	10	dccb	dccb	NOUN
ajfa-989	166	11	)	)	PUNCT
ajfa-989	166	12	in	in	ADP
ajfa-989	166	13	the	the	DET
ajfa-989	166	14	variance	variance	NOUN
ajfa-989	166	15	equation	equation	NOUN
ajfa-989	166	16	is	be	AUX
ajfa-989	166	17	close	close	ADJ
ajfa-989	166	18	to	to	ADP
ajfa-989	166	19	unity	unity	NOUN
ajfa-989	166	20	,	,	PUNCT
ajfa-989	166	21	implying	imply	VERB
ajfa-989	166	22	that	that	SCONJ
ajfa-989	166	23	volatility	volatility	NOUN
ajfa-989	166	24	exhibits	exhibit	VERB
ajfa-989	166	25	a	a	DET
ajfa-989	166	26	highly	highly	ADV
ajfa-989	166	27	persistent	persistent	ADJ
ajfa-989	166	28	behavior	behavior	NOUN
ajfa-989	166	29	.	.	PUNCT
ajfa-989	167	1	table	table	NOUN
ajfa-989	167	2	3	3	NUM
ajfa-989	167	3	.	.	PUNCT
ajfa-989	168	1	bond	bond	NOUN
ajfa-989	168	2	-	-	PUNCT
ajfa-989	168	3	stock	stock	NOUN
ajfa-989	168	4	bivariate	bivariate	ADJ
ajfa-989	168	5	dcc	dcc	PROPN
ajfa-989	168	6	-	-	PUNCT
ajfa-989	168	7	garch	garch	NOUN
ajfa-989	168	8	(	(	PUNCT
ajfa-989	168	9	1	1	NUM
ajfa-989	168	10	,	,	PUNCT
ajfa-989	168	11	1	1	X
ajfa-989	168	12	)	)	PUNCT
ajfa-989	168	13	model	model	NOUN
ajfa-989	168	14			NOUN
ajfa-989	168	15			X
ajfa-989	168	16			NUM
ajfa-989	168	17			PROPN
ajfa-989	168	18	dccs	dccs	NUM
ajfa-989	168	19	dccb	dccb	NOUN
ajfa-989	168	20	stock	stock	VERB
ajfa-989	168	21	0.148	0.148	NUM
ajfa-989	168	22	*	*	PUNCT
ajfa-989	168	23	0.016	0.016	NUM
ajfa-989	168	24	*	*	SYM
ajfa-989	168	25	0.022	0.022	NUM
ajfa-989	168	26	*	*	X
ajfa-989	168	27	0.977	0.977	NUM
ajfa-989	168	28	*	*	NOUN
ajfa-989	168	29	0.005	0.005	NUM
ajfa-989	168	30	*	*	NOUN
ajfa-989	168	31	0.993	0.993	NUM
ajfa-989	168	32	*	*	PUNCT
ajfa-989	168	33	(	(	PUNCT
ajfa-989	168	34	0.032	0.032	NUM
ajfa-989	168	35	)	)	PUNCT
ajfa-989	168	36	(	(	PUNCT
ajfa-989	168	37	0.000	0.000	NUM
ajfa-989	168	38	)	)	PUNCT
ajfa-989	168	39	(	(	PUNCT
ajfa-989	168	40	0.001	0.001	NUM
ajfa-989	168	41	)	)	PUNCT
ajfa-989	168	42	(	(	PUNCT
ajfa-989	168	43	0.001	0.001	NUM
ajfa-989	168	44	)	)	PUNCT
ajfa-989	168	45	bond	bond	NOUN
ajfa-989	168	46	0.061	0.061	NUM
ajfa-989	168	47	*	*	PUNCT
ajfa-989	168	48	0.026	0.026	NUM
ajfa-989	168	49	*	*	PUNCT
ajfa-989	168	50	0.079	0.079	NUM
ajfa-989	168	51	*	*	SYM
ajfa-989	168	52	0.920	0.920	NUM
ajfa-989	168	53	*	*	PUNCT
ajfa-989	168	54	(	(	PUNCT
ajfa-989	168	55	0.001	0.001	NUM
ajfa-989	168	56	)	)	PUNCT
ajfa-989	168	57	(	(	PUNCT
ajfa-989	168	58	0.001	0.001	NUM
ajfa-989	168	59	)	)	PUNCT
ajfa-989	168	60	(	(	PUNCT
ajfa-989	168	61	0.006	0.006	NUM
ajfa-989	168	62	)	)	PUNCT
ajfa-989	168	63	(	(	PUNCT
ajfa-989	168	64	0.000	0.000	NUM
ajfa-989	168	65	)	)	PUNCT
ajfa-989	168	66	(	(	PUNCT
ajfa-989	168	67	0.005	0.005	NUM
ajfa-989	168	68	)	)	PUNCT
ajfa-989	168	69	(	(	PUNCT
ajfa-989	168	70	0.005	0.005	NUM
ajfa-989	168	71	)	)	PUNCT
ajfa-989	168	72	results	result	NOUN
ajfa-989	168	73	are	be	AUX
ajfa-989	168	74	reported	report	VERB
ajfa-989	168	75	from	from	ADP
ajfa-989	168	76	a	a	DET
ajfa-989	168	77	bivariate	bivariate	ADJ
ajfa-989	168	78	dynamic	dynamic	ADJ
ajfa-989	168	79	conditional	conditional	ADJ
ajfa-989	168	80	correlation	correlation	NOUN
ajfa-989	168	81	garch	garch	NOUN
ajfa-989	168	82	(	(	PUNCT
ajfa-989	168	83	1	1	NUM
ajfa-989	168	84	,	,	PUNCT
ajfa-989	168	85	1	1	NUM
ajfa-989	168	86	)	)	PUNCT
ajfa-989	168	87	process	process	NOUN
ajfa-989	168	88	;	;	PUNCT
ajfa-989	168	89	conducted	conduct	VERB
ajfa-989	168	90	by	by	ADP
ajfa-989	168	91	using	use	VERB
ajfa-989	168	92	daily	daily	ADJ
ajfa-989	168	93	returns	return	NOUN
ajfa-989	168	94	on	on	ADP
ajfa-989	168	95	bond	bond	NOUN
ajfa-989	168	96	and	and	CCONJ
ajfa-989	168	97	stock	stock	NOUN
ajfa-989	168	98	market	market	NOUN
ajfa-989	168	99	indices	index	NOUN
ajfa-989	168	100	for	for	ADP
ajfa-989	168	101	russia	russia	PROPN
ajfa-989	168	102	from	from	ADP
ajfa-989	168	103	july	july	PROPN
ajfa-989	168	104	1994	1994	NUM
ajfa-989	168	105	asian	asian	ADJ
ajfa-989	168	106	journal	journal	NOUN
ajfa-989	168	107	of	of	ADP
ajfa-989	168	108	finance	finance	PROPN
ajfa-989	168	109	&	&	CCONJ
ajfa-989	168	110	accounting	accounting	PROPN
ajfa-989	168	111	issn	issn	PROPN
ajfa-989	168	112	1946	1946	NUM
ajfa-989	168	113	-	-	PUNCT
ajfa-989	168	114	052x	052x	NOUN
ajfa-989	168	115	2011	2011	NUM
ajfa-989	168	116	,	,	PUNCT
ajfa-989	168	117	vol	vol	NOUN
ajfa-989	168	118	.	.	PROPN
ajfa-989	169	1	3	3	NUM
ajfa-989	169	2	,	,	PUNCT
ajfa-989	169	3	no	no	INTJ
ajfa-989	169	4	.	.	NOUN
ajfa-989	169	5	1	1	NUM
ajfa-989	169	6	:	:	PUNCT
ajfa-989	169	7	e5	e5	PROPN
ajfa-989	169	8	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-989	169	9	82	82	NUM
ajfa-989	169	10	to	to	ADP
ajfa-989	169	11	december2007	december2007	PROPN
ajfa-989	169	12	.	.	PUNCT
ajfa-989	170	1	in	in	ADP
ajfa-989	170	2	the	the	DET
ajfa-989	170	3	table	table	NOUN
ajfa-989	170	4	,	,	PUNCT
ajfa-989	170	5			NOUN
ajfa-989	170	6	represents	represent	VERB
ajfa-989	170	7	the	the	DET
ajfa-989	170	8	constant	constant	ADJ
ajfa-989	170	9	from	from	ADP
ajfa-989	170	10	the	the	DET
ajfa-989	170	11	mean	mean	ADJ
ajfa-989	170	12	equation	equation	NOUN
ajfa-989	170	13	whereas	whereas	SCONJ
ajfa-989	170	14			PROPN
ajfa-989	170	15	,	,	PUNCT
ajfa-989	170	16			X
ajfa-989	170	17	and	and	CCONJ
ajfa-989	170	18			PROPN
ajfa-989	170	19	are	be	AUX
ajfa-989	170	20	the	the	DET
ajfa-989	170	21	parameters	parameter	NOUN
ajfa-989	170	22	of	of	ADP
ajfa-989	170	23	bivariate	bivariate	ADJ
ajfa-989	170	24	garch	garch	NOUN
ajfa-989	170	25	processes	process	NOUN
ajfa-989	170	26	.	.	PUNCT
ajfa-989	171	1	the	the	DET
ajfa-989	171	2	parameters	parameter	NOUN
ajfa-989	171	3	,	,	PUNCT
ajfa-989	171	4	dccs	dccs	NOUN
ajfa-989	171	5	and	and	CCONJ
ajfa-989	171	6	dccb	dccb	NOUN
ajfa-989	171	7	,	,	PUNCT
ajfa-989	171	8	are	be	AUX
ajfa-989	171	9	dcc	dcc	NOUN
ajfa-989	171	10	-	-	PUNCT
ajfa-989	171	11	garch	garch	NOUN
ajfa-989	171	12	estimates	estimate	NOUN
ajfa-989	171	13	of	of	ADP
ajfa-989	171	14	stock	stock	NOUN
ajfa-989	171	15	and	and	CCONJ
ajfa-989	171	16	bond	bond	NOUN
ajfa-989	171	17	,	,	PUNCT
ajfa-989	171	18	respectively	respectively	ADV
ajfa-989	171	19	.	.	PUNCT
ajfa-989	172	1	standard	standard	ADJ
ajfa-989	172	2	errors	error	NOUN
ajfa-989	172	3	are	be	AUX
ajfa-989	172	4	in	in	ADP
ajfa-989	172	5	(	(	PUNCT
ajfa-989	172	6	)	)	PUNCT
ajfa-989	172	7	.	.	PUNCT
ajfa-989	173	1	*	*	PUNCT
ajfa-989	173	2	indicates	indicate	VERB
ajfa-989	173	3	the	the	DET
ajfa-989	173	4	significance	significance	NOUN
ajfa-989	173	5	at	at	ADP
ajfa-989	173	6	5	5	NUM
ajfa-989	173	7	%	%	NOUN
ajfa-989	173	8	level	level	NOUN
ajfa-989	173	9	.	.	PUNCT
ajfa-989	174	1	asymmetric	asymmetric	ADJ
ajfa-989	174	2	dynamic	dynamic	ADJ
ajfa-989	174	3	conditional	conditional	ADJ
ajfa-989	174	4	correlation	correlation	NOUN
ajfa-989	174	5	estimates	estimate	VERB
ajfa-989	174	6	the	the	DET
ajfa-989	174	7	dcc	dcc	PROPN
ajfa-989	174	8	model	model	NOUN
ajfa-989	174	9	perfectly	perfectly	ADV
ajfa-989	174	10	overcomes	overcome	VERB
ajfa-989	174	11	the	the	DET
ajfa-989	174	12	heteroskedasticity	heteroskedasticity	NOUN
ajfa-989	174	13	problem	problem	NOUN
ajfa-989	174	14	since	since	SCONJ
ajfa-989	174	15	the	the	DET
ajfa-989	174	16	residuals	residual	NOUN
ajfa-989	174	17	of	of	ADP
ajfa-989	174	18	the	the	DET
ajfa-989	174	19	returns	return	NOUN
ajfa-989	174	20	are	be	AUX
ajfa-989	174	21	standardized	standardize	VERB
ajfa-989	174	22	by	by	ADP
ajfa-989	174	23	the	the	DET
ajfa-989	174	24	conditional	conditional	ADJ
ajfa-989	174	25	standard	standard	ADJ
ajfa-989	174	26	deviation	deviation	NOUN
ajfa-989	174	27	based	base	VERB
ajfa-989	174	28	on	on	ADP
ajfa-989	174	29	the	the	DET
ajfa-989	174	30	garch	garch	NOUN
ajfa-989	174	31	(	(	PUNCT
ajfa-989	174	32	1,1	1,1	NUM
ajfa-989	174	33	)	)	PUNCT
ajfa-989	174	34	process	process	NOUN
ajfa-989	174	35	.	.	PUNCT
ajfa-989	175	1	however	however	ADV
ajfa-989	175	2	,	,	PUNCT
ajfa-989	175	3	it	it	PRON
ajfa-989	175	4	does	do	AUX
ajfa-989	175	5	not	not	PART
ajfa-989	175	6	account	account	VERB
ajfa-989	175	7	for	for	ADP
ajfa-989	175	8	the	the	DET
ajfa-989	175	9	asymmetries	asymmetry	NOUN
ajfa-989	175	10	in	in	ADP
ajfa-989	175	11	conditional	conditional	ADJ
ajfa-989	175	12	variances	variance	NOUN
ajfa-989	175	13	,	,	PUNCT
ajfa-989	175	14	covariances	covariance	NOUN
ajfa-989	175	15	,	,	PUNCT
ajfa-989	175	16	and	and	CCONJ
ajfa-989	175	17	correlations	correlation	NOUN
ajfa-989	175	18	.	.	PUNCT
ajfa-989	176	1	hence	hence	ADV
ajfa-989	176	2	,	,	PUNCT
ajfa-989	176	3	an	an	DET
ajfa-989	176	4	asymmetric	asymmetric	ADJ
ajfa-989	176	5	version	version	NOUN
ajfa-989	176	6	of	of	ADP
ajfa-989	176	7	the	the	DET
ajfa-989	176	8	dynamic	dynamic	ADJ
ajfa-989	176	9	conditional	conditional	ADJ
ajfa-989	176	10	correlation	correlation	NOUN
ajfa-989	176	11	(	(	PUNCT
ajfa-989	176	12	adcc	adcc	NOUN
ajfa-989	176	13	)	)	PUNCT
ajfa-989	176	14	model	model	NOUN
ajfa-989	176	15	proposed	propose	VERB
ajfa-989	176	16	by	by	ADP
ajfa-989	176	17	cappiello	cappiello	PROPN
ajfa-989	176	18	et	et	PROPN
ajfa-989	176	19	al	al	PROPN
ajfa-989	176	20	.	.	PROPN
ajfa-989	177	1	(	(	PUNCT
ajfa-989	177	2	2006	2006	NUM
ajfa-989	177	3	)	)	PUNCT
ajfa-989	177	4	was	be	AUX
ajfa-989	177	5	adopted	adopt	VERB
ajfa-989	177	6	to	to	PART
ajfa-989	177	7	deal	deal	VERB
ajfa-989	177	8	with	with	ADP
ajfa-989	177	9	the	the	DET
ajfa-989	177	10	asymmetries	asymmetry	NOUN
ajfa-989	177	11	in	in	ADP
ajfa-989	177	12	conditional	conditional	ADJ
ajfa-989	177	13	variances	variance	NOUN
ajfa-989	177	14	,	,	PUNCT
ajfa-989	177	15	covariances	covariance	NOUN
ajfa-989	177	16	,	,	PUNCT
ajfa-989	177	17	and	and	CCONJ
ajfa-989	177	18	correlations	correlation	NOUN
ajfa-989	177	19	of	of	ADP
ajfa-989	177	20	the	the	DET
ajfa-989	177	21	two	two	NUM
ajfa-989	177	22	assets	asset	NOUN
ajfa-989	177	23	.	.	PUNCT
ajfa-989	178	1	table	table	NOUN
ajfa-989	178	2	4	4	NUM
ajfa-989	178	3	presents	present	VERB
ajfa-989	178	4	the	the	DET
ajfa-989	178	5	empirics	empiric	NOUN
ajfa-989	178	6	.	.	PUNCT
ajfa-989	179	1	again	again	ADV
ajfa-989	179	2	the	the	DET
ajfa-989	179	3	garch	garch	NOUN
ajfa-989	179	4	(	(	PUNCT
ajfa-989	179	5	1	1	NUM
ajfa-989	179	6	,	,	PUNCT
ajfa-989	179	7	1	1	X
ajfa-989	179	8	)	)	PUNCT
ajfa-989	179	9	parameters	parameter	NOUN
ajfa-989	179	10	are	be	AUX
ajfa-989	179	11	highly	highly	ADV
ajfa-989	179	12	significant	significant	ADJ
ajfa-989	179	13	confirming	confirm	VERB
ajfa-989	179	14	the	the	DET
ajfa-989	179	15	time	time	NOUN
ajfa-989	179	16	varying	vary	VERB
ajfa-989	179	17	variance	variance	NOUN
ajfa-989	179	18	–	–	PUNCT
ajfa-989	179	19	covariance	covariance	NOUN
ajfa-989	179	20	process	process	NOUN
ajfa-989	179	21	as	as	ADV
ajfa-989	179	22	well	well	ADV
ajfa-989	179	23	as	as	ADP
ajfa-989	179	24	strengthening	strengthen	VERB
ajfa-989	179	25	the	the	DET
ajfa-989	179	26	use	use	NOUN
ajfa-989	179	27	of	of	ADP
ajfa-989	179	28	multivariate	multivariate	NOUN
ajfa-989	179	29	garch	garch	NOUN
ajfa-989	179	30	modeling	modeling	NOUN
ajfa-989	179	31	for	for	ADP
ajfa-989	179	32	the	the	DET
ajfa-989	179	33	russian	russian	ADJ
ajfa-989	179	34	stock	stock	NOUN
ajfa-989	179	35	and	and	CCONJ
ajfa-989	179	36	bond	bond	NOUN
ajfa-989	179	37	market	market	NOUN
ajfa-989	179	38	data	datum	NOUN
ajfa-989	179	39	.	.	PUNCT
ajfa-989	180	1	parameter	parameter	NOUN
ajfa-989	180	2			NUM
ajfa-989	180	3	measures	measure	NOUN
ajfa-989	180	4	the	the	DET
ajfa-989	180	5	asymmetries	asymmetry	NOUN
ajfa-989	180	6	in	in	ADP
ajfa-989	180	7	conditional	conditional	ADJ
ajfa-989	180	8	variances	variance	NOUN
ajfa-989	180	9	,	,	PUNCT
ajfa-989	180	10	covariances	covariance	NOUN
ajfa-989	180	11	,	,	PUNCT
ajfa-989	180	12	and	and	CCONJ
ajfa-989	180	13	correlations	correlation	NOUN
ajfa-989	180	14	,	,	PUNCT
ajfa-989	180	15	and	and	CCONJ
ajfa-989	180	16	in	in	ADP
ajfa-989	180	17	this	this	DET
ajfa-989	180	18	regard	regard	NOUN
ajfa-989	180	19	the	the	DET
ajfa-989	180	20	results	result	NOUN
ajfa-989	180	21	proved	prove	VERB
ajfa-989	180	22	to	to	PART
ajfa-989	180	23	be	be	AUX
ajfa-989	180	24	very	very	ADV
ajfa-989	180	25	interesting	interesting	ADJ
ajfa-989	180	26	.	.	PUNCT
ajfa-989	181	1	empirics	empiric	NOUN
ajfa-989	181	2	show	show	VERB
ajfa-989	181	3	that	that	SCONJ
ajfa-989	181	4	the	the	DET
ajfa-989	181	5	russian	russian	ADJ
ajfa-989	181	6	bond	bond	NOUN
ajfa-989	181	7	market	market	NOUN
ajfa-989	181	8	and	and	CCONJ
ajfa-989	181	9	stock	stock	NOUN
ajfa-989	181	10	market	market	NOUN
ajfa-989	181	11	both	both	PRON
ajfa-989	181	12	exhibits	exhibit	VERB
ajfa-989	181	13	positive	positive	ADJ
ajfa-989	181	14	asymmetries	asymmetry	NOUN
ajfa-989	181	15	in	in	ADP
ajfa-989	181	16	conditional	conditional	ADJ
ajfa-989	181	17	variances	variance	NOUN
ajfa-989	181	18	,	,	PUNCT
ajfa-989	181	19	covariances	covariance	NOUN
ajfa-989	181	20	,	,	PUNCT
ajfa-989	181	21	and	and	CCONJ
ajfa-989	181	22	correlations	correlation	NOUN
ajfa-989	181	23	.	.	PUNCT
ajfa-989	182	1	table	table	NOUN
ajfa-989	182	2	4	4	NUM
ajfa-989	182	3	.	.	PUNCT
ajfa-989	183	1	bond	bond	NOUN
ajfa-989	183	2	-	-	PUNCT
ajfa-989	183	3	stock	stock	NOUN
ajfa-989	183	4	bivariate	bivariate	ADJ
ajfa-989	183	5	adcc	adcc	NOUN
ajfa-989	183	6	-	-	PUNCT
ajfa-989	183	7	garch(1	garch(1	NOUN
ajfa-989	183	8	,	,	PUNCT
ajfa-989	183	9	1	1	NUM
ajfa-989	183	10	)	)	PUNCT
ajfa-989	183	11	model	model	NOUN
ajfa-989	183	12			NOUN
ajfa-989	183	13			X
ajfa-989	183	14			X
ajfa-989	183	15			PROPN
ajfa-989	183	16			NUM
ajfa-989	183	17	dccs	dccs	NOUN
ajfa-989	183	18	dccb	dccb	VERB
ajfa-989	183	19	stock	stock	NOUN
ajfa-989	183	20	0.080	0.080	NUM
ajfa-989	183	21	*	*	PUNCT
ajfa-989	183	22	-0.025	-0.025	PROPN
ajfa-989	183	23	*	*	X
ajfa-989	183	24	0.022	0.022	NUM
ajfa-989	183	25	*	*	X
ajfa-989	183	26	0.977	0.977	NUM
ajfa-989	183	27	*	*	SYM
ajfa-989	183	28	0.001	0.001	NUM
ajfa-989	183	29	*	*	NUM
ajfa-989	183	30	0.007	0.007	NUM
ajfa-989	183	31	*	*	NUM
ajfa-989	183	32	0.982	0.982	NUM
ajfa-989	183	33	*	*	PUNCT
ajfa-989	183	34	(	(	PUNCT
ajfa-989	183	35	0.009	0.009	NUM
ajfa-989	183	36	)	)	PUNCT
ajfa-989	183	37	(	(	PUNCT
ajfa-989	183	38	0.000	0.000	NUM
ajfa-989	183	39	)	)	PUNCT
ajfa-989	183	40	(	(	PUNCT
ajfa-989	183	41	0.001	0.001	NUM
ajfa-989	183	42	)	)	PUNCT
ajfa-989	183	43	(	(	PUNCT
ajfa-989	183	44	0.001	0.001	NUM
ajfa-989	183	45	)	)	PUNCT
ajfa-989	183	46	(	(	PUNCT
ajfa-989	183	47	0.000	0.000	X
ajfa-989	183	48	)	)	PUNCT
ajfa-989	183	49	bond	bond	NOUN
ajfa-989	183	50	0.062	0.062	NUM
ajfa-989	183	51	*	*	NOUN
ajfa-989	183	52	0.008	0.008	NUM
ajfa-989	183	53	*	*	NOUN
ajfa-989	183	54	0.098	0.098	NUM
ajfa-989	183	55	*	*	SYM
ajfa-989	183	56	0.901	0.901	NUM
ajfa-989	183	57	*	*	NOUN
ajfa-989	183	58	0.044	0.044	NUM
ajfa-989	183	59	*	*	PUNCT
ajfa-989	183	60	*	*	PUNCT
ajfa-989	183	61	(	(	PUNCT
ajfa-989	183	62	0.002	0.002	NUM
ajfa-989	183	63	)	)	PUNCT
ajfa-989	183	64	(	(	PUNCT
ajfa-989	183	65	0.002	0.002	NUM
ajfa-989	183	66	)	)	PUNCT
ajfa-989	183	67	(	(	PUNCT
ajfa-989	183	68	0.007	0.007	NUM
ajfa-989	183	69	)	)	PUNCT
ajfa-989	183	70	(	(	PUNCT
ajfa-989	183	71	0.000	0.000	NUM
ajfa-989	183	72	)	)	PUNCT
ajfa-989	183	73	(	(	PUNCT
ajfa-989	183	74	0.007	0.007	NUM
ajfa-989	183	75	)	)	PUNCT
ajfa-989	183	76	(	(	PUNCT
ajfa-989	183	77	0.007	0.007	NUM
ajfa-989	183	78	)	)	PUNCT
ajfa-989	183	79	(	(	PUNCT
ajfa-989	183	80	0.007	0.007	NUM
ajfa-989	183	81	)	)	PUNCT
ajfa-989	183	82	results	result	NOUN
ajfa-989	183	83	are	be	AUX
ajfa-989	183	84	reported	report	VERB
ajfa-989	183	85	from	from	ADP
ajfa-989	183	86	a	a	DET
ajfa-989	183	87	bivariate	bivariate	ADJ
ajfa-989	183	88	asymmetric	asymmetric	ADJ
ajfa-989	183	89	dynamic	dynamic	ADJ
ajfa-989	183	90	conditional	conditional	ADJ
ajfa-989	183	91	correlation	correlation	NOUN
ajfa-989	183	92	garch	garch	NOUN
ajfa-989	183	93	(	(	PUNCT
ajfa-989	183	94	1	1	NUM
ajfa-989	183	95	,	,	PUNCT
ajfa-989	183	96	1	1	X
ajfa-989	183	97	)	)	PUNCT
ajfa-989	183	98	model	model	NOUN
ajfa-989	183	99	,	,	PUNCT
ajfa-989	183	100	conducted	conduct	VERB
ajfa-989	183	101	using	use	VERB
ajfa-989	183	102	daily	daily	ADJ
ajfa-989	183	103	returns	return	NOUN
ajfa-989	183	104	on	on	ADP
ajfa-989	183	105	bond	bond	NOUN
ajfa-989	183	106	and	and	CCONJ
ajfa-989	183	107	stock	stock	NOUN
ajfa-989	183	108	market	market	NOUN
ajfa-989	183	109	indices	index	NOUN
ajfa-989	183	110	for	for	ADP
ajfa-989	183	111	russia	russia	PROPN
ajfa-989	183	112	from	from	ADP
ajfa-989	183	113	july	july	PROPN
ajfa-989	183	114	1994	1994	NUM
ajfa-989	183	115	to	to	ADP
ajfa-989	183	116	december	december	PROPN
ajfa-989	183	117	2007	2007	NUM
ajfa-989	183	118	.	.	PUNCT
ajfa-989	184	1	in	in	ADP
ajfa-989	184	2	the	the	DET
ajfa-989	184	3	table	table	NOUN
ajfa-989	184	4	,	,	PUNCT
ajfa-989	184	5			NOUN
ajfa-989	184	6	represents	represent	VERB
ajfa-989	184	7	the	the	DET
ajfa-989	184	8	constant	constant	ADJ
ajfa-989	184	9	from	from	ADP
ajfa-989	184	10	the	the	DET
ajfa-989	184	11	mean	mean	ADJ
ajfa-989	184	12	equation	equation	NOUN
ajfa-989	184	13	whereas	whereas	SCONJ
ajfa-989	184	14			PROPN
ajfa-989	184	15	,	,	PUNCT
ajfa-989	184	16			X
ajfa-989	184	17	and	and	CCONJ
ajfa-989	184	18			PROPN
ajfa-989	184	19	are	be	AUX
ajfa-989	184	20	the	the	DET
ajfa-989	184	21	parameters	parameter	NOUN
ajfa-989	184	22	of	of	ADP
ajfa-989	184	23	bivariate	bivariate	ADJ
ajfa-989	184	24	garch	garch	NOUN
ajfa-989	184	25	processes	process	NOUN
ajfa-989	184	26	.	.	PUNCT
ajfa-989	185	1			NUM
ajfa-989	185	2	account	account	VERB
ajfa-989	185	3	for	for	ADP
ajfa-989	185	4	asymmetric	asymmetric	ADJ
ajfa-989	185	5	behaviour	behaviour	NOUN
ajfa-989	185	6	.	.	PUNCT
ajfa-989	186	1	the	the	DET
ajfa-989	186	2	last	last	ADJ
ajfa-989	186	3	parameters	parameter	NOUN
ajfa-989	186	4	,	,	PUNCT
ajfa-989	186	5	dccs	dccs	NOUN
ajfa-989	186	6	and	and	CCONJ
ajfa-989	186	7	dccb	dccb	NOUN
ajfa-989	186	8	,	,	PUNCT
ajfa-989	186	9	are	be	AUX
ajfa-989	186	10	dcc	dcc	NOUN
ajfa-989	186	11	-	-	PUNCT
ajfa-989	186	12	garch	garch	NOUN
ajfa-989	186	13	estimates	estimate	NOUN
ajfa-989	186	14	of	of	ADP
ajfa-989	186	15	stock	stock	NOUN
ajfa-989	186	16	and	and	CCONJ
ajfa-989	186	17	bond	bond	NOUN
ajfa-989	186	18	,	,	PUNCT
ajfa-989	186	19	respectively	respectively	ADV
ajfa-989	186	20	.	.	PUNCT
ajfa-989	187	1	standard	standard	ADJ
ajfa-989	187	2	errors	error	NOUN
ajfa-989	187	3	are	be	AUX
ajfa-989	187	4	in	in	ADP
ajfa-989	187	5	(	(	PUNCT
ajfa-989	187	6	)	)	PUNCT
ajfa-989	187	7	.	.	PUNCT
ajfa-989	188	1	*	*	PUNCT
ajfa-989	188	2	(	(	PUNCT
ajfa-989	188	3	*	*	PUNCT
ajfa-989	188	4	*	*	PUNCT
ajfa-989	188	5	)	)	PUNCT
ajfa-989	188	6	indicate	indicate	VERB
ajfa-989	188	7	the	the	DET
ajfa-989	188	8	significance	significance	NOUN
ajfa-989	188	9	at	at	ADP
ajfa-989	188	10	5	5	NUM
ajfa-989	188	11	%	%	NOUN
ajfa-989	188	12	(	(	PUNCT
ajfa-989	188	13	10	10	NUM
ajfa-989	188	14	%	%	NOUN
ajfa-989	188	15	)	)	PUNCT
ajfa-989	188	16	level	level	NOUN
ajfa-989	188	17	.	.	PUNCT
ajfa-989	189	1	finally	finally	ADV
ajfa-989	189	2	,	,	PUNCT
ajfa-989	189	3	the	the	DET
ajfa-989	189	4	significance	significance	NOUN
ajfa-989	189	5	of	of	ADP
ajfa-989	189	6	dcc	dcc	PROPN
ajfa-989	189	7	-	-	PUNCT
ajfa-989	189	8	garch	garch	NOUN
ajfa-989	189	9	estimates	estimate	NOUN
ajfa-989	189	10	dccs	dccs	NUM
ajfa-989	189	11	and	and	CCONJ
ajfa-989	189	12	dccb	dccb	NOUN
ajfa-989	189	13	once	once	ADV
ajfa-989	189	14	again	again	ADV
ajfa-989	189	15	allow	allow	VERB
ajfa-989	189	16	us	we	PRON
ajfa-989	189	17	to	to	PART
ajfa-989	189	18	conclude	conclude	VERB
ajfa-989	189	19	that	that	SCONJ
ajfa-989	189	20	conditional	conditional	ADJ
ajfa-989	189	21	correlations	correlation	NOUN
ajfa-989	189	22	of	of	ADP
ajfa-989	189	23	bond	bond	NOUN
ajfa-989	189	24	and	and	CCONJ
ajfa-989	189	25	stock	stock	NOUN
ajfa-989	189	26	returns	return	NOUN
ajfa-989	189	27	are	be	AUX
ajfa-989	189	28	highly	highly	ADV
ajfa-989	189	29	dynamic	dynamic	ADJ
ajfa-989	189	30	and	and	CCONJ
ajfa-989	189	31	time	time	NOUN
ajfa-989	189	32	varying	vary	VERB
ajfa-989	189	33	.	.	PUNCT
ajfa-989	190	1	asian	asian	ADJ
ajfa-989	190	2	journal	journal	PROPN
ajfa-989	190	3	of	of	ADP
ajfa-989	190	4	finance	finance	PROPN
ajfa-989	190	5	&	&	CCONJ
ajfa-989	190	6	accounting	accounting	PROPN
ajfa-989	190	7	issn	issn	PROPN
ajfa-989	190	8	1946	1946	NUM
ajfa-989	190	9	-	-	PUNCT
ajfa-989	190	10	052x	052x	NOUN
ajfa-989	190	11	2011	2011	NUM
ajfa-989	190	12	,	,	PUNCT
ajfa-989	190	13	vol	vol	NOUN
ajfa-989	190	14	.	.	PROPN
ajfa-989	191	1	3	3	NUM
ajfa-989	191	2	,	,	PUNCT
ajfa-989	191	3	no	no	INTJ
ajfa-989	191	4	.	.	NOUN
ajfa-989	191	5	1	1	NUM
ajfa-989	191	6	:	:	PUNCT
ajfa-989	191	7	e5	e5	PROPN
ajfa-989	191	8	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-989	191	9	83	83	NUM
ajfa-989	191	10	5	5	NUM
ajfa-989	191	11	.	.	PUNCT
ajfa-989	192	1	summary	summary	NOUN
ajfa-989	192	2	and	and	CCONJ
ajfa-989	192	3	conclusions	conclusion	NOUN
ajfa-989	192	4	in	in	ADP
ajfa-989	192	5	this	this	DET
ajfa-989	192	6	study	study	NOUN
ajfa-989	192	7	we	we	PRON
ajfa-989	192	8	address	address	VERB
ajfa-989	192	9	one	one	NUM
ajfa-989	192	10	of	of	ADP
ajfa-989	192	11	the	the	DET
ajfa-989	192	12	most	most	ADV
ajfa-989	192	13	fundamental	fundamental	ADJ
ajfa-989	192	14	issues	issue	NOUN
ajfa-989	192	15	of	of	ADP
ajfa-989	192	16	traditional	traditional	ADJ
ajfa-989	192	17	and	and	CCONJ
ajfa-989	192	18	modern	modern	ADJ
ajfa-989	192	19	portfolio	portfolio	NOUN
ajfa-989	192	20	management	management	NOUN
ajfa-989	192	21	,	,	PUNCT
ajfa-989	192	22	i.e.	i.e.	X
ajfa-989	192	23	,	,	PUNCT
ajfa-989	192	24	the	the	DET
ajfa-989	192	25	dynamics	dynamic	NOUN
ajfa-989	192	26	of	of	ADP
ajfa-989	192	27	stock	stock	NOUN
ajfa-989	192	28	–	–	PUNCT
ajfa-989	192	29	bond	bond	NOUN
ajfa-989	192	30	correlation	correlation	NOUN
ajfa-989	192	31	and	and	CCONJ
ajfa-989	192	32	how	how	SCONJ
ajfa-989	192	33	it	it	PRON
ajfa-989	192	34	might	might	AUX
ajfa-989	192	35	perform	perform	VERB
ajfa-989	192	36	in	in	ADP
ajfa-989	192	37	the	the	DET
ajfa-989	192	38	future	future	NOUN
ajfa-989	192	39	.	.	PUNCT
ajfa-989	193	1	stock	stock	NOUN
ajfa-989	193	2	–	–	PUNCT
ajfa-989	193	3	bond	bond	NOUN
ajfa-989	193	4	correlation	correlation	NOUN
ajfa-989	193	5	plays	play	VERB
ajfa-989	193	6	an	an	DET
ajfa-989	193	7	important	important	ADJ
ajfa-989	193	8	role	role	NOUN
ajfa-989	193	9	in	in	ADP
ajfa-989	193	10	asset	asset	NOUN
ajfa-989	193	11	allocation	allocation	NOUN
ajfa-989	193	12	,	,	PUNCT
ajfa-989	193	13	portfolio	portfolio	NOUN
ajfa-989	193	14	management	management	NOUN
ajfa-989	193	15	and	and	CCONJ
ajfa-989	193	16	risk	risk	NOUN
ajfa-989	193	17	management	management	NOUN
ajfa-989	193	18	.	.	PUNCT
ajfa-989	194	1	despite	despite	SCONJ
ajfa-989	194	2	its	its	PRON
ajfa-989	194	3	importance	importance	NOUN
ajfa-989	194	4	,	,	PUNCT
ajfa-989	194	5	this	this	DET
ajfa-989	194	6	phenomenon	phenomenon	NOUN
ajfa-989	194	7	has	have	AUX
ajfa-989	194	8	been	be	AUX
ajfa-989	194	9	severely	severely	ADV
ajfa-989	194	10	ignored	ignore	VERB
ajfa-989	194	11	in	in	ADP
ajfa-989	194	12	the	the	DET
ajfa-989	194	13	context	context	NOUN
ajfa-989	194	14	of	of	ADP
ajfa-989	194	15	emerging	emerge	VERB
ajfa-989	194	16	markets	market	NOUN
ajfa-989	194	17	,	,	PUNCT
ajfa-989	194	18	regardless	regardless	ADV
ajfa-989	194	19	of	of	ADP
ajfa-989	194	20	their	their	PRON
ajfa-989	194	21	high	high	ADJ
ajfa-989	194	22	returns	return	NOUN
ajfa-989	194	23	and	and	CCONJ
ajfa-989	194	24	favorable	favorable	ADJ
ajfa-989	194	25	diversification	diversification	NOUN
ajfa-989	194	26	opportunities	opportunity	NOUN
ajfa-989	194	27	.	.	PUNCT
ajfa-989	195	1	we	we	PRON
ajfa-989	195	2	chose	choose	VERB
ajfa-989	195	3	the	the	DET
ajfa-989	195	4	russian	russian	ADJ
ajfa-989	195	5	stock	stock	NOUN
ajfa-989	195	6	and	and	CCONJ
ajfa-989	195	7	bond	bond	NOUN
ajfa-989	195	8	market	market	NOUN
ajfa-989	195	9	as	as	ADP
ajfa-989	195	10	a	a	DET
ajfa-989	195	11	test	test	NOUN
ajfa-989	195	12	laboratory	laboratory	NOUN
ajfa-989	195	13	due	due	ADP
ajfa-989	195	14	to	to	ADP
ajfa-989	195	15	its	its	PRON
ajfa-989	195	16	rapid	rapid	ADJ
ajfa-989	195	17	growth	growth	NOUN
ajfa-989	195	18	and	and	CCONJ
ajfa-989	195	19	attraction	attraction	NOUN
ajfa-989	195	20	to	to	ADP
ajfa-989	195	21	both	both	CCONJ
ajfa-989	195	22	domestic	domestic	ADJ
ajfa-989	195	23	and	and	CCONJ
ajfa-989	195	24	international	international	ADJ
ajfa-989	195	25	investors	investor	NOUN
ajfa-989	195	26	.	.	PUNCT
ajfa-989	196	1	the	the	DET
ajfa-989	196	2	co	co	NOUN
ajfa-989	196	3	-	-	NOUN
ajfa-989	196	4	movements	movement	NOUN
ajfa-989	196	5	between	between	ADP
ajfa-989	196	6	the	the	DET
ajfa-989	196	7	returns	return	NOUN
ajfa-989	196	8	on	on	ADP
ajfa-989	196	9	the	the	DET
ajfa-989	196	10	stock	stock	NOUN
ajfa-989	196	11	and	and	CCONJ
ajfa-989	196	12	bond	bond	NOUN
ajfa-989	196	13	markets	market	NOUN
ajfa-989	196	14	of	of	ADP
ajfa-989	196	15	russia	russia	PROPN
ajfa-989	196	16	were	be	AUX
ajfa-989	196	17	modeled	model	VERB
ajfa-989	196	18	by	by	ADP
ajfa-989	196	19	using	use	VERB
ajfa-989	196	20	multivariate	multivariate	NOUN
ajfa-989	196	21	conditional	conditional	ADJ
ajfa-989	196	22	volatility	volatility	NOUN
ajfa-989	196	23	models	model	NOUN
ajfa-989	196	24	.	.	PUNCT
ajfa-989	197	1	the	the	DET
ajfa-989	197	2	investigation	investigation	NOUN
ajfa-989	197	3	started	start	VERB
ajfa-989	197	4	by	by	ADP
ajfa-989	197	5	applying	apply	VERB
ajfa-989	197	6	bollerslev	bollerslev	NOUN
ajfa-989	197	7	’s	’s	PART
ajfa-989	197	8	(	(	PUNCT
ajfa-989	197	9	1990	1990	NUM
ajfa-989	197	10	)	)	PUNCT
ajfa-989	197	11	constant	constant	ADJ
ajfa-989	197	12	conditional	conditional	ADJ
ajfa-989	197	13	correlation	correlation	NOUN
ajfa-989	197	14	model	model	NOUN
ajfa-989	197	15	to	to	PART
ajfa-989	197	16	test	test	VERB
ajfa-989	197	17	whether	whether	SCONJ
ajfa-989	197	18	varying	vary	VERB
ajfa-989	197	19	correlations	correlation	NOUN
ajfa-989	197	20	are	be	AUX
ajfa-989	197	21	statistically	statistically	ADV
ajfa-989	197	22	significant	significant	ADJ
ajfa-989	197	23	.	.	PUNCT
ajfa-989	198	1	then	then	ADV
ajfa-989	198	2	the	the	DET
ajfa-989	198	3	dcc	dcc	PROPN
ajfa-989	198	4	-	-	PUNCT
ajfa-989	198	5	garch	garch	NOUN
ajfa-989	198	6	(	(	PUNCT
ajfa-989	198	7	1	1	NUM
ajfa-989	198	8	,	,	PUNCT
ajfa-989	198	9	1	1	X
ajfa-989	198	10	)	)	PUNCT
ajfa-989	198	11	model	model	NOUN
ajfa-989	198	12	proposed	propose	VERB
ajfa-989	198	13	by	by	ADP
ajfa-989	198	14	engle	engle	PROPN
ajfa-989	198	15	(	(	PUNCT
ajfa-989	198	16	2002	2002	NUM
ajfa-989	198	17	)	)	PUNCT
ajfa-989	198	18	was	be	AUX
ajfa-989	198	19	used	use	VERB
ajfa-989	198	20	to	to	PART
ajfa-989	198	21	analyze	analyze	VERB
ajfa-989	198	22	the	the	DET
ajfa-989	198	23	dynamics	dynamic	NOUN
ajfa-989	198	24	of	of	ADP
ajfa-989	198	25	conditional	conditional	ADJ
ajfa-989	198	26	correlations	correlation	NOUN
ajfa-989	198	27	between	between	ADP
ajfa-989	198	28	the	the	DET
ajfa-989	198	29	two	two	NUM
ajfa-989	198	30	assets	asset	NOUN
ajfa-989	198	31	.	.	PUNCT
ajfa-989	199	1	finally	finally	ADV
ajfa-989	199	2	,	,	PUNCT
ajfa-989	199	3	to	to	PART
ajfa-989	199	4	investigate	investigate	VERB
ajfa-989	199	5	the	the	DET
ajfa-989	199	6	asymmetries	asymmetry	NOUN
ajfa-989	199	7	in	in	ADP
ajfa-989	199	8	conditional	conditional	ADJ
ajfa-989	199	9	variances	variance	NOUN
ajfa-989	199	10	,	,	PUNCT
ajfa-989	199	11	covariances	covariance	NOUN
ajfa-989	199	12	,	,	PUNCT
ajfa-989	199	13	and	and	CCONJ
ajfa-989	199	14	correlations	correlation	NOUN
ajfa-989	199	15	,	,	PUNCT
ajfa-989	199	16	an	an	DET
ajfa-989	199	17	asymmetric	asymmetric	ADJ
ajfa-989	199	18	version	version	NOUN
ajfa-989	199	19	of	of	ADP
ajfa-989	199	20	the	the	DET
ajfa-989	199	21	dynamic	dynamic	ADJ
ajfa-989	199	22	conditional	conditional	ADJ
ajfa-989	199	23	correlation	correlation	NOUN
ajfa-989	199	24	(	(	PUNCT
ajfa-989	199	25	adcc	adcc	NOUN
ajfa-989	199	26	)	)	PUNCT
ajfa-989	199	27	model	model	NOUN
ajfa-989	199	28	proposed	propose	VERB
ajfa-989	199	29	by	by	ADP
ajfa-989	199	30	cappiello	cappiello	PROPN
ajfa-989	199	31	et	et	PROPN
ajfa-989	199	32	al	al	PROPN
ajfa-989	199	33	.	.	PROPN
ajfa-989	200	1	(	(	PUNCT
ajfa-989	200	2	2006	2006	NUM
ajfa-989	200	3	)	)	PUNCT
ajfa-989	200	4	was	be	AUX
ajfa-989	200	5	adopted	adopt	VERB
ajfa-989	200	6	.	.	PUNCT
ajfa-989	201	1	the	the	DET
ajfa-989	201	2	empirical	empirical	ADJ
ajfa-989	201	3	results	result	NOUN
ajfa-989	201	4	do	do	AUX
ajfa-989	201	5	not	not	PART
ajfa-989	201	6	support	support	VERB
ajfa-989	201	7	the	the	DET
ajfa-989	201	8	assumption	assumption	NOUN
ajfa-989	201	9	of	of	ADP
ajfa-989	201	10	constant	constant	ADJ
ajfa-989	201	11	conditional	conditional	ADJ
ajfa-989	201	12	correlation	correlation	NOUN
ajfa-989	201	13	and	and	CCONJ
ajfa-989	201	14	there	there	PRON
ajfa-989	201	15	was	be	VERB
ajfa-989	201	16	clear	clear	ADJ
ajfa-989	201	17	evidence	evidence	NOUN
ajfa-989	201	18	of	of	ADP
ajfa-989	201	19	time	time	NOUN
ajfa-989	201	20	varying	vary	VERB
ajfa-989	201	21	correlations	correlation	NOUN
ajfa-989	201	22	between	between	ADP
ajfa-989	201	23	the	the	DET
ajfa-989	201	24	russian	russian	ADJ
ajfa-989	201	25	stocks	stock	NOUN
ajfa-989	201	26	and	and	CCONJ
ajfa-989	201	27	bond	bond	NOUN
ajfa-989	201	28	market	market	NOUN
ajfa-989	201	29	.	.	PUNCT
ajfa-989	202	1	moreover	moreover	ADV
ajfa-989	202	2	,	,	PUNCT
ajfa-989	202	3	both	both	DET
ajfa-989	202	4	asset	asset	NOUN
ajfa-989	202	5	markets	market	NOUN
ajfa-989	202	6	exhibit	exhibit	VERB
ajfa-989	202	7	positive	positive	ADJ
ajfa-989	202	8	asymmetries	asymmetry	NOUN
ajfa-989	202	9	.	.	PUNCT
ajfa-989	203	1	we	we	PRON
ajfa-989	203	2	believe	believe	VERB
ajfa-989	203	3	that	that	SCONJ
ajfa-989	203	4	our	our	PRON
ajfa-989	203	5	results	result	NOUN
ajfa-989	203	6	offer	offer	VERB
ajfa-989	203	7	a	a	DET
ajfa-989	203	8	better	well	ADJ
ajfa-989	203	9	understanding	understanding	NOUN
ajfa-989	203	10	of	of	ADP
ajfa-989	203	11	the	the	DET
ajfa-989	203	12	dynamics	dynamic	NOUN
ajfa-989	203	13	of	of	ADP
ajfa-989	203	14	the	the	DET
ajfa-989	203	15	correlations	correlation	NOUN
ajfa-989	203	16	between	between	ADP
ajfa-989	203	17	the	the	DET
ajfa-989	203	18	stocks	stock	NOUN
ajfa-989	203	19	and	and	CCONJ
ajfa-989	203	20	bonds	bond	NOUN
ajfa-989	203	21	in	in	ADP
ajfa-989	203	22	an	an	DET
ajfa-989	203	23	emerging	emerge	VERB
ajfa-989	203	24	market	market	NOUN
ajfa-989	203	25	setting	setting	NOUN
ajfa-989	203	26	which	which	PRON
ajfa-989	203	27	is	be	AUX
ajfa-989	203	28	obviously	obviously	ADV
ajfa-989	203	29	very	very	ADV
ajfa-989	203	30	valuable	valuable	ADJ
ajfa-989	203	31	for	for	ADP
ajfa-989	203	32	portfolio	portfolio	NOUN
ajfa-989	203	33	managers	manager	NOUN
ajfa-989	203	34	,	,	PUNCT
ajfa-989	203	35	international	international	ADJ
ajfa-989	203	36	investors	investor	NOUN
ajfa-989	203	37	,	,	PUNCT
ajfa-989	203	38	risk	risk	NOUN
ajfa-989	203	39	analysts	analyst	NOUN
ajfa-989	203	40	and	and	CCONJ
ajfa-989	203	41	financial	financial	ADJ
ajfa-989	203	42	researchers	researcher	NOUN
ajfa-989	203	43	as	as	ADV
ajfa-989	203	44	well	well	ADV
ajfa-989	203	45	as	as	ADP
ajfa-989	203	46	for	for	ADP
ajfa-989	203	47	its	its	PRON
ajfa-989	203	48	policy	policy	NOUN
ajfa-989	203	49	implications	implication	NOUN
ajfa-989	203	50	.	.	PUNCT
ajfa-989	204	1	references	reference	NOUN
ajfa-989	204	2	abid	abid	PROPN
ajfa-989	204	3	,	,	PUNCT
ajfa-989	204	4	f.	f.	PROPN
ajfa-989	204	5	,	,	PUNCT
ajfa-989	204	6	aoua	aoua	PROPN
ajfa-989	204	7	,	,	PUNCT
ajfa-989	204	8	n.	n.	NOUN
ajfa-989	204	9	,	,	PUNCT
ajfa-989	204	10	mikhail	mikhail	PROPN
ajfa-989	204	11	,	,	PUNCT
ajfa-989	204	12	a.d	a.d	PROPN
ajfa-989	204	13	.	.	PROPN
ajfa-989	204	14	(	(	PUNCT
ajfa-989	204	15	2003	2003	NUM
ajfa-989	204	16	)	)	PUNCT
ajfa-989	204	17	.	.	PUNCT
ajfa-989	205	1	linkages	linkage	NOUN
ajfa-989	205	2	between	between	ADP
ajfa-989	205	3	,	,	PUNCT
ajfa-989	205	4	and	and	CCONJ
ajfa-989	205	5	contagion	contagion	NOUN
ajfa-989	205	6	in	in	ADP
ajfa-989	205	7	,	,	PUNCT
ajfa-989	205	8	asian	asian	ADJ
ajfa-989	205	9	stock	stock	NOUN
ajfa-989	205	10	and	and	CCONJ
ajfa-989	205	11	foreign	foreign	ADJ
ajfa-989	205	12	exchange	exchange	NOUN
ajfa-989	205	13	markets	market	NOUN
ajfa-989	205	14	.	.	PUNCT
ajfa-989	206	1	finance	finance	NOUN
ajfa-989	206	2	india	india	PROPN
ajfa-989	206	3	17	17	NUM
ajfa-989	206	4	,	,	PUNCT
ajfa-989	206	5	1311	1311	NUM
ajfa-989	206	6	-	-	SYM
ajfa-989	206	7	1343	1343	NUM
ajfa-989	206	8	.	.	PUNCT
ajfa-989	207	1	alexander	alexander	PROPN
ajfa-989	207	2	,	,	PUNCT
ajfa-989	207	3	g.	g.	PROPN
ajfa-989	207	4	,	,	PUNCT
ajfa-989	207	5	edwards	edwards	PROPN
ajfa-989	207	6	,	,	PUNCT
ajfa-989	207	7	a.	a.	PROPN
ajfa-989	207	8	,	,	PUNCT
ajfa-989	207	9	ferri	ferri	PROPN
ajfa-989	207	10	,	,	PUNCT
ajfa-989	207	11	m.	m.	NOUN
ajfa-989	207	12	(	(	PUNCT
ajfa-989	207	13	2000	2000	NUM
ajfa-989	207	14	)	)	PUNCT
ajfa-989	207	15	.	.	PUNCT
ajfa-989	208	1	what	what	PRON
ajfa-989	208	2	does	do	AUX
ajfa-989	208	3	nasdaq	nasdaq	PROPN
ajfa-989	208	4	’s	’s	PART
ajfa-989	208	5	high	high	ADJ
ajfa-989	208	6	-	-	PUNCT
ajfa-989	208	7	yield	yield	NOUN
ajfa-989	208	8	bond	bond	NOUN
ajfa-989	208	9	market	market	NOUN
ajfa-989	208	10	reveal	reveal	VERB
ajfa-989	208	11	about	about	ADP
ajfa-989	208	12	bondholder	bondholder	NOUN
ajfa-989	208	13	-	-	PUNCT
ajfa-989	208	14	stockholder	stockholder	NOUN
ajfa-989	208	15	conflicts	conflict	NOUN
ajfa-989	208	16	?	?	PUNCT
ajfa-989	209	1	financial	financial	ADJ
ajfa-989	209	2	management	management	NOUN
ajfa-989	209	3	29	29	NUM
ajfa-989	209	4	,	,	PUNCT
ajfa-989	209	5	23	23	NUM
ajfa-989	209	6	-	-	SYM
ajfa-989	209	7	39	39	NUM
ajfa-989	209	8	.	.	PUNCT
ajfa-989	210	1	barsky	barsky	PROPN
ajfa-989	210	2	,	,	PUNCT
ajfa-989	210	3	r.	r.	PROPN
ajfa-989	210	4	b.	b.	PROPN
ajfa-989	210	5	(	(	PUNCT
ajfa-989	210	6	1989	1989	NUM
ajfa-989	210	7	)	)	PUNCT
ajfa-989	210	8	.	.	PUNCT
ajfa-989	211	1	why	why	SCONJ
ajfa-989	211	2	do	do	AUX
ajfa-989	211	3	n’t	not	PART
ajfa-989	211	4	the	the	DET
ajfa-989	211	5	prices	price	NOUN
ajfa-989	211	6	of	of	ADP
ajfa-989	211	7	stocks	stock	NOUN
ajfa-989	211	8	and	and	CCONJ
ajfa-989	211	9	bonds	bond	NOUN
ajfa-989	211	10	move	move	VERB
ajfa-989	211	11	together	together	ADV
ajfa-989	211	12	?	?	PUNCT
ajfa-989	212	1	american	american	ADJ
ajfa-989	212	2	economic	economic	PROPN
ajfa-989	212	3	review	review	NOUN
ajfa-989	212	4	79	79	NUM
ajfa-989	212	5	,	,	PUNCT
ajfa-989	212	6	1132	1132	NUM
ajfa-989	212	7	-	-	SYM
ajfa-989	212	8	1145	1145	NUM
ajfa-989	212	9	.	.	PUNCT
ajfa-989	213	1	baur	baur	PROPN
ajfa-989	213	2	,	,	PUNCT
ajfa-989	213	3	d.	d.	PROPN
ajfa-989	213	4	,	,	PUNCT
ajfa-989	213	5	lucey	lucey	PROPN
ajfa-989	213	6	,	,	PUNCT
ajfa-989	213	7	b.m	b.m	PROPN
ajfa-989	213	8	.	.	PROPN
ajfa-989	213	9	(	(	PUNCT
ajfa-989	213	10	2009	2009	NUM
ajfa-989	213	11	)	)	PUNCT
ajfa-989	213	12	.	.	PUNCT
ajfa-989	214	1	flight	flight	NOUN
ajfa-989	214	2	and	and	CCONJ
ajfa-989	214	3	contagion	contagion	NOUN
ajfa-989	214	4	an	an	DET
ajfa-989	214	5	empirical	empirical	ADJ
ajfa-989	214	6	analysis	analysis	NOUN
ajfa-989	214	7	of	of	ADP
ajfa-989	214	8	stock	stock	NOUN
ajfa-989	214	9	-	-	PUNCT
ajfa-989	214	10	bond	bond	NOUN
ajfa-989	214	11	correlations	correlation	NOUN
ajfa-989	214	12	.	.	PUNCT
ajfa-989	215	1	journal	journal	NOUN
ajfa-989	215	2	of	of	ADP
ajfa-989	215	3	financial	financial	ADJ
ajfa-989	215	4	stability	stability	NOUN
ajfa-989	215	5	5	5	NUM
ajfa-989	215	6	,	,	PUNCT
ajfa-989	215	7	339	339	NUM
ajfa-989	215	8	-	-	SYM
ajfa-989	215	9	352	352	NUM
ajfa-989	215	10	.	.	PUNCT
ajfa-989	216	1	http://dx.doi.org/10.1016/j.jfs.2008.08.001	http://dx.doi.org/10.1016/j.jfs.2008.08.001	PROPN
ajfa-989	216	2	bollerslev	bollerslev	NOUN
ajfa-989	216	3	,	,	PUNCT
ajfa-989	216	4	t.	t.	PROPN
ajfa-989	216	5	(	(	PUNCT
ajfa-989	216	6	1990	1990	NUM
ajfa-989	216	7	)	)	PUNCT
ajfa-989	216	8	.	.	PUNCT
ajfa-989	217	1	modeling	model	VERB
ajfa-989	217	2	the	the	DET
ajfa-989	217	3	coherence	coherence	NOUN
ajfa-989	217	4	in	in	ADP
ajfa-989	217	5	short	short	ADJ
ajfa-989	217	6	-	-	PUNCT
ajfa-989	217	7	run	run	VERB
ajfa-989	217	8	nominal	nominal	ADJ
ajfa-989	217	9	exchange	exchange	NOUN
ajfa-989	217	10	rates	rate	NOUN
ajfa-989	217	11	:	:	PUNCT
ajfa-989	217	12	a	a	DET
ajfa-989	217	13	multivariate	multivariate	NOUN
ajfa-989	217	14	generalized	generalize	VERB
ajfa-989	217	15	arch	arch	ADJ
ajfa-989	217	16	model	model	NOUN
ajfa-989	217	17	.	.	PUNCT
ajfa-989	218	1	review	review	NOUN
ajfa-989	218	2	of	of	ADP
ajfa-989	218	3	economics	economic	NOUN
ajfa-989	218	4	and	and	CCONJ
ajfa-989	218	5	statistics	statistic	NOUN
ajfa-989	218	6	72	72	NUM
ajfa-989	218	7	,	,	PUNCT
ajfa-989	218	8	498	498	NUM
ajfa-989	218	9	-	-	SYM
ajfa-989	218	10	505	505	NUM
ajfa-989	218	11	.	.	PUNCT
ajfa-989	218	12	bollerslev	bollerslev	ADJ
ajfa-989	218	13	t.	t.	PROPN
ajfa-989	218	14	,	,	PUNCT
ajfa-989	218	15	engle	engle	PROPN
ajfa-989	218	16	,	,	PUNCT
ajfa-989	218	17	r.f	r.f	PROPN
ajfa-989	218	18	.	.	PROPN
ajfa-989	218	19	,	,	PUNCT
ajfa-989	218	20	wooldridge	wooldridge	PROPN
ajfa-989	218	21	,	,	PUNCT
ajfa-989	218	22	j.m	j.m	PROPN
ajfa-989	218	23	.	.	PROPN
ajfa-989	218	24	(	(	PUNCT
ajfa-989	218	25	1988	1988	NUM
ajfa-989	218	26	)	)	PUNCT
ajfa-989	218	27	.	.	PUNCT
ajfa-989	219	1	a	a	DET
ajfa-989	219	2	capital	capital	NOUN
ajfa-989	219	3	asset	asset	NOUN
ajfa-989	219	4	pricing	pricing	NOUN
ajfa-989	219	5	model	model	NOUN
ajfa-989	219	6	with	with	ADP
ajfa-989	219	7	timevarying	timevarying	NOUN
ajfa-989	219	8	covariances	covariance	NOUN
ajfa-989	219	9	.	.	PUNCT
ajfa-989	220	1	journal	journal	NOUN
ajfa-989	220	2	of	of	ADP
ajfa-989	220	3	political	political	ADJ
ajfa-989	220	4	economy	economy	NOUN
ajfa-989	220	5	96	96	NUM
ajfa-989	220	6	,	,	PUNCT
ajfa-989	220	7	116	116	NUM
ajfa-989	220	8	-	-	SYM
ajfa-989	220	9	131	131	NUM
ajfa-989	220	10	.	.	PUNCT
ajfa-989	220	11	bollerslev	bollerslev	PROPN
ajfa-989	220	12	,	,	PUNCT
ajfa-989	220	13	t.	t.	PROPN
ajfa-989	220	14	(	(	PUNCT
ajfa-989	220	15	1986	1986	NUM
ajfa-989	220	16	)	)	PUNCT
ajfa-989	220	17	.	.	PUNCT
ajfa-989	221	1	generalized	generalize	VERB
ajfa-989	221	2	autoregressive	autoregressive	ADJ
ajfa-989	221	3	conditional	conditional	ADJ
ajfa-989	221	4	heteroskedasticity	heteroskedasticity	NOUN
ajfa-989	221	5	.	.	PUNCT
ajfa-989	222	1	journal	journal	PROPN
ajfa-989	222	2	of	of	ADP
ajfa-989	222	3	asian	asian	ADJ
ajfa-989	222	4	journal	journal	PROPN
ajfa-989	222	5	of	of	ADP
ajfa-989	222	6	finance	finance	PROPN
ajfa-989	222	7	&	&	CCONJ
ajfa-989	222	8	accounting	accounting	PROPN
ajfa-989	222	9	issn	issn	PROPN
ajfa-989	222	10	1946	1946	NUM
ajfa-989	222	11	-	-	PUNCT
ajfa-989	222	12	052x	052x	NOUN
ajfa-989	222	13	2011	2011	NUM
ajfa-989	222	14	,	,	PUNCT
ajfa-989	222	15	vol	vol	NOUN
ajfa-989	222	16	.	.	PROPN
ajfa-989	223	1	3	3	NUM
ajfa-989	223	2	,	,	PUNCT
ajfa-989	223	3	no	no	INTJ
ajfa-989	223	4	.	.	NOUN
ajfa-989	223	5	1	1	NUM
ajfa-989	223	6	:	:	PUNCT
ajfa-989	223	7	e5	e5	PROPN
ajfa-989	223	8	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NOUN
ajfa-989	223	9	84	84	NUM
ajfa-989	223	10	econometrics	econometric	NOUN
ajfa-989	223	11	,	,	PUNCT
ajfa-989	223	12	31	31	NUM
ajfa-989	223	13	,	,	PUNCT
ajfa-989	223	14	307	307	NUM
ajfa-989	223	15	-	-	SYM
ajfa-989	223	16	27	27	NUM
ajfa-989	223	17	.	.	PUNCT
ajfa-989	224	1	http://dx.doi.org/10.1016/0304-4076(86)90063-1	http://dx.doi.org/10.1016/0304-4076(86)90063-1	PROPN
ajfa-989	224	2	connolly	connolly	PROPN
ajfa-989	224	3	,	,	PUNCT
ajfa-989	224	4	r.	r.	PROPN
ajfa-989	224	5	,	,	PUNCT
ajfa-989	224	6	stivers	stiver	NOUN
ajfa-989	224	7	,	,	PUNCT
ajfa-989	224	8	c.	c.	NOUN
ajfa-989	224	9	,	,	PUNCT
ajfa-989	224	10	sun	sun	PROPN
ajfa-989	224	11	,	,	PUNCT
ajfa-989	224	12	l.	l.	PROPN
ajfa-989	224	13	(	(	PUNCT
ajfa-989	224	14	2005	2005	NUM
ajfa-989	224	15	)	)	PUNCT
ajfa-989	224	16	.	.	PUNCT
ajfa-989	225	1	stock	stock	NOUN
ajfa-989	225	2	market	market	NOUN
ajfa-989	225	3	uncertainty	uncertainty	NOUN
ajfa-989	225	4	and	and	CCONJ
ajfa-989	225	5	the	the	DET
ajfa-989	225	6	stockbond	stockbond	ADJ
ajfa-989	225	7	return	return	NOUN
ajfa-989	225	8	relation	relation	NOUN
ajfa-989	225	9	.	.	PUNCT
ajfa-989	226	1	journal	journal	PROPN
ajfa-989	226	2	of	of	ADP
ajfa-989	226	3	financial	financial	ADJ
ajfa-989	226	4	and	and	CCONJ
ajfa-989	226	5	quantitative	quantitative	ADJ
ajfa-989	226	6	analysis	analysis	NOUN
ajfa-989	226	7	,	,	PUNCT
ajfa-989	226	8	40	40	NUM
ajfa-989	226	9	,	,	PUNCT
ajfa-989	226	10	161	161	NUM
ajfa-989	226	11	-	-	SYM
ajfa-989	226	12	194	194	NUM
ajfa-989	226	13	.	.	PUNCT
ajfa-989	227	1	http://dx.doi.org/10.1017/s0022109000001782	http://dx.doi.org/10.1017/s0022109000001782	PROPN
ajfa-989	227	2	campbell	campbell	PROPN
ajfa-989	227	3	,	,	PUNCT
ajfa-989	227	4	j.	j.	PROPN
ajfa-989	227	5	,	,	PUNCT
ajfa-989	227	6	ammer	ammer	NOUN
ajfa-989	227	7	,	,	PUNCT
ajfa-989	227	8	j.	j.	PROPN
ajfa-989	227	9	(	(	PUNCT
ajfa-989	227	10	1993	1993	NUM
ajfa-989	227	11	)	)	PUNCT
ajfa-989	227	12	.	.	PUNCT
ajfa-989	228	1	what	what	PRON
ajfa-989	228	2	moves	move	VERB
ajfa-989	228	3	the	the	DET
ajfa-989	228	4	stock	stock	NOUN
ajfa-989	228	5	and	and	CCONJ
ajfa-989	228	6	bond	bond	NOUN
ajfa-989	228	7	markets	market	NOUN
ajfa-989	228	8	?	?	PUNCT
ajfa-989	229	1	a	a	DET
ajfa-989	229	2	variance	variance	NOUN
ajfa-989	229	3	decomposition	decomposition	NOUN
ajfa-989	229	4	for	for	ADP
ajfa-989	229	5	long	long	ADJ
ajfa-989	229	6	-	-	PUNCT
ajfa-989	229	7	term	term	NOUN
ajfa-989	229	8	asset	asset	NOUN
ajfa-989	229	9	returns	return	NOUN
ajfa-989	229	10	.	.	PUNCT
ajfa-989	230	1	journal	journal	NOUN
ajfa-989	230	2	of	of	ADP
ajfa-989	230	3	finance	finance	NOUN
ajfa-989	230	4	,	,	PUNCT
ajfa-989	230	5	48	48	NUM
ajfa-989	230	6	,	,	PUNCT
ajfa-989	230	7	3	3	NUM
ajfa-989	230	8	-	-	SYM
ajfa-989	230	9	37	37	NUM
ajfa-989	230	10	.	.	PUNCT
ajfa-989	231	1	cappiello	cappiello	PROPN
ajfa-989	231	2	,	,	PUNCT
ajfa-989	231	3	l.	l.	PROPN
ajfa-989	231	4	,	,	PUNCT
ajfa-989	231	5	engle	engle	PROPN
ajfa-989	231	6	,	,	PUNCT
ajfa-989	231	7	r.	r.	PROPN
ajfa-989	231	8	,	,	PUNCT
ajfa-989	231	9	sheppard	sheppard	PROPN
ajfa-989	231	10	,	,	PUNCT
ajfa-989	231	11	k.	k.	PROPN
ajfa-989	231	12	(	(	PUNCT
ajfa-989	231	13	2006	2006	NUM
ajfa-989	231	14	)	)	PUNCT
ajfa-989	231	15	.	.	PUNCT
ajfa-989	232	1	asymmetric	asymmetric	ADJ
ajfa-989	232	2	dynamics	dynamic	NOUN
ajfa-989	232	3	in	in	ADP
ajfa-989	232	4	the	the	DET
ajfa-989	232	5	correlations	correlation	NOUN
ajfa-989	232	6	of	of	ADP
ajfa-989	232	7	global	global	ADJ
ajfa-989	232	8	equity	equity	NOUN
ajfa-989	232	9	and	and	CCONJ
ajfa-989	232	10	bond	bond	NOUN
ajfa-989	232	11	returns	return	NOUN
ajfa-989	232	12	.	.	PUNCT
ajfa-989	233	1	journal	journal	NOUN
ajfa-989	233	2	of	of	ADP
ajfa-989	233	3	financial	financial	ADJ
ajfa-989	233	4	econometrics	econometric	NOUN
ajfa-989	233	5	4	4	NUM
ajfa-989	233	6	,	,	PUNCT
ajfa-989	233	7	537	537	NUM
ajfa-989	233	8	-	-	SYM
ajfa-989	233	9	572	572	NUM
ajfa-989	233	10	.	.	PUNCT
ajfa-989	234	1	http://dx.doi.org/10.1093/jjfinec/nbl005	http://dx.doi.org/10.1093/jjfinec/nbl005	PROPN
ajfa-989	235	1	chesnay	chesnay	PROPN
ajfa-989	235	2	,	,	PUNCT
ajfa-989	235	3	f.	f.	PROPN
ajfa-989	235	4	,	,	PUNCT
ajfa-989	235	5	jondeau	jondeau	PROPN
ajfa-989	235	6	,	,	PUNCT
ajfa-989	235	7	e.	e.	PROPN
ajfa-989	235	8	(	(	PUNCT
ajfa-989	235	9	2001	2001	NUM
ajfa-989	235	10	)	)	PUNCT
ajfa-989	235	11	.	.	PUNCT
ajfa-989	236	1	does	do	AUX
ajfa-989	236	2	correlation	correlation	NOUN
ajfa-989	236	3	between	between	ADP
ajfa-989	236	4	stock	stock	NOUN
ajfa-989	236	5	returns	return	NOUN
ajfa-989	236	6	really	really	ADV
ajfa-989	236	7	increase	increase	VERB
ajfa-989	236	8	during	during	ADP
ajfa-989	236	9	turbulent	turbulent	ADJ
ajfa-989	236	10	periods	period	NOUN
ajfa-989	236	11	.	.	PUNCT
ajfa-989	237	1	economic	economic	ADJ
ajfa-989	237	2	notes	note	NOUN
ajfa-989	237	3	by	by	ADP
ajfa-989	237	4	banca	banca	PROPN
ajfa-989	237	5	monte	monte	PROPN
ajfa-989	237	6	dei	dei	PROPN
ajfa-989	237	7	paschi	paschi	PROPN
ajfa-989	237	8	di	di	PROPN
ajfa-989	237	9	siena	siena	PROPN
ajfa-989	237	10	spa	spa	PROPN
ajfa-989	237	11	.	.	PUNCT
ajfa-989	238	1	engle	engle	PROPN
ajfa-989	238	2	,	,	PUNCT
ajfa-989	238	3	r.	r.	PROPN
ajfa-989	238	4	(	(	PUNCT
ajfa-989	238	5	2002	2002	NUM
ajfa-989	238	6	)	)	PUNCT
ajfa-989	238	7	.	.	PUNCT
ajfa-989	239	1	dynamic	dynamic	ADJ
ajfa-989	239	2	conditional	conditional	ADJ
ajfa-989	239	3	correlation	correlation	NOUN
ajfa-989	239	4	–	–	PUNCT
ajfa-989	239	5	a	a	DET
ajfa-989	239	6	simple	simple	ADJ
ajfa-989	239	7	class	class	NOUN
ajfa-989	239	8	of	of	ADP
ajfa-989	239	9	multivariate	multivariate	NOUN
ajfa-989	239	10	garch	garch	NOUN
ajfa-989	239	11	models	model	NOUN
ajfa-989	239	12	.	.	PUNCT
ajfa-989	240	1	journal	journal	NOUN
ajfa-989	240	2	of	of	ADP
ajfa-989	240	3	business	business	NOUN
ajfa-989	240	4	and	and	CCONJ
ajfa-989	240	5	economic	economic	ADJ
ajfa-989	240	6	statistics	statistic	NOUN
ajfa-989	240	7	,	,	PUNCT
ajfa-989	240	8	20	20	NUM
ajfa-989	240	9	,	,	PUNCT
ajfa-989	240	10	339	339	NUM
ajfa-989	240	11	-	-	SYM
ajfa-989	240	12	350	350	NUM
ajfa-989	240	13	.	.	PUNCT
ajfa-989	241	1	http://dx.doi.org/10.1198/073500102288618487	http://dx.doi.org/10.1198/073500102288618487	PROPN
ajfa-989	241	2	engle	engle	PROPN
ajfa-989	241	3	r.f	r.f	PROPN
ajfa-989	241	4	.	.	PROPN
ajfa-989	241	5	,	,	PUNCT
ajfa-989	241	6	kroner	kroner	PROPN
ajfa-989	241	7	,	,	PUNCT
ajfa-989	241	8	k.f	k.f	PROPN
ajfa-989	241	9	.	.	PROPN
ajfa-989	241	10	(	(	PUNCT
ajfa-989	241	11	1995	1995	NUM
ajfa-989	241	12	)	)	PUNCT
ajfa-989	241	13	.	.	PUNCT
ajfa-989	242	1	multivariate	multivariate	VERB
ajfa-989	242	2	simultaneous	simultaneous	ADJ
ajfa-989	242	3	generalized	generalized	ADJ
ajfa-989	242	4	arch	arch	NOUN
ajfa-989	242	5	.	.	PUNCT
ajfa-989	243	1	econometric	econometric	ADJ
ajfa-989	243	2	theory	theory	NOUN
ajfa-989	243	3	11	11	NUM
ajfa-989	243	4	,	,	PUNCT
ajfa-989	243	5	122	122	NUM
ajfa-989	243	6	-	-	SYM
ajfa-989	243	7	150	150	NUM
ajfa-989	243	8	.	.	PUNCT
ajfa-989	244	1	http://dx.doi.org/10.1017/s0266466600009063	http://dx.doi.org/10.1017/s0266466600009063	PROPN
ajfa-989	244	2	engle	engle	PROPN
ajfa-989	244	3	,	,	PUNCT
ajfa-989	244	4	r.f	r.f	PROPN
ajfa-989	244	5	.	.	PROPN
ajfa-989	244	6	,	,	PUNCT
ajfa-989	244	7	sheppard	sheppard	PROPN
ajfa-989	244	8	,	,	PUNCT
ajfa-989	244	9	k.	k.	PROPN
ajfa-989	244	10	(	(	PUNCT
ajfa-989	244	11	2001	2001	NUM
ajfa-989	244	12	)	)	PUNCT
ajfa-989	244	13	.	.	PUNCT
ajfa-989	245	1	theoretical	theoretical	ADJ
ajfa-989	245	2	and	and	CCONJ
ajfa-989	245	3	empirical	empirical	ADJ
ajfa-989	245	4	properties	property	NOUN
ajfa-989	245	5	of	of	ADP
ajfa-989	245	6	dynamic	dynamic	ADJ
ajfa-989	245	7	conditional	conditional	ADJ
ajfa-989	245	8	correlation	correlation	NOUN
ajfa-989	245	9	multivariate	multivariate	NOUN
ajfa-989	245	10	garch	garch	NOUN
ajfa-989	245	11	,	,	PUNCT
ajfa-989	245	12	working	working	NOUN
ajfa-989	245	13	paper	paper	NOUN
ajfa-989	245	14	,	,	PUNCT
ajfa-989	245	15	ucsd	ucsd	PROPN
ajfa-989	245	16	,	,	PUNCT
ajfa-989	245	17	san	san	PROPN
ajfa-989	245	18	diego	diego	PROPN
ajfa-989	245	19	.	.	PUNCT
ajfa-989	246	1	engle	engle	PROPN
ajfa-989	246	2	,	,	PUNCT
ajfa-989	246	3	r.	r.	PROPN
ajfa-989	246	4	f.	f.	PROPN
ajfa-989	246	5	(	(	PUNCT
ajfa-989	246	6	1982	1982	NUM
ajfa-989	246	7	)	)	PUNCT
ajfa-989	246	8	.	.	PUNCT
ajfa-989	247	1	autoregressive	autoregressive	ADJ
ajfa-989	247	2	conditional	conditional	ADJ
ajfa-989	247	3	heteroskedasticity	heteroskedasticity	NOUN
ajfa-989	247	4	with	with	ADP
ajfa-989	247	5	estimates	estimate	NOUN
ajfa-989	247	6	of	of	ADP
ajfa-989	247	7	the	the	DET
ajfa-989	247	8	variance	variance	NOUN
ajfa-989	247	9	of	of	ADP
ajfa-989	247	10	united	united	PROPN
ajfa-989	247	11	kingdom	kingdom	PROPN
ajfa-989	247	12	inflation	inflation	NOUN
ajfa-989	247	13	,	,	PUNCT
ajfa-989	247	14	econometrica	econometrica	PROPN
ajfa-989	247	15	,	,	PUNCT
ajfa-989	247	16	50	50	NUM
ajfa-989	247	17	,	,	PUNCT
ajfa-989	247	18	987	987	NUM
ajfa-989	247	19	-	-	SYM
ajfa-989	247	20	1007	1007	NUM
ajfa-989	247	21	.	.	PUNCT
ajfa-989	248	1	gulko	gulko	PROPN
ajfa-989	248	2	,	,	PUNCT
ajfa-989	248	3	l.	l.	PROPN
ajfa-989	248	4	(	(	PUNCT
ajfa-989	248	5	2002	2002	NUM
ajfa-989	248	6	)	)	PUNCT
ajfa-989	248	7	.	.	PUNCT
ajfa-989	249	1	decoupling	decouple	VERB
ajfa-989	249	2	.	.	PUNCT
ajfa-989	250	1	journal	journal	PROPN
ajfa-989	250	2	of	of	ADP
ajfa-989	250	3	portfolio	portfolio	NOUN
ajfa-989	250	4	management	management	NOUN
ajfa-989	250	5	,	,	PUNCT
ajfa-989	250	6	28	28	NUM
ajfa-989	250	7	,	,	PUNCT
ajfa-989	250	8	59	59	NUM
ajfa-989	250	9	-	-	SYM
ajfa-989	250	10	67	67	NUM
ajfa-989	250	11	.	.	PUNCT
ajfa-989	251	1	http://dx.doi.org/10.3905/jpm.2002.319843	http://dx.doi.org/10.3905/jpm.2002.319843	PROPN
ajfa-989	251	2	ilmanen	ilmanen	PROPN
ajfa-989	251	3	,	,	PUNCT
ajfa-989	251	4	a.	a.	NOUN
ajfa-989	251	5	(	(	PUNCT
ajfa-989	251	6	2003	2003	NUM
ajfa-989	251	7	)	)	PUNCT
ajfa-989	251	8	.	.	PUNCT
ajfa-989	252	1	stock	stock	NOUN
ajfa-989	252	2	-	-	PUNCT
ajfa-989	252	3	bond	bond	NOUN
ajfa-989	252	4	correlations	correlation	NOUN
ajfa-989	252	5	.	.	PUNCT
ajfa-989	253	1	journal	journal	NOUN
ajfa-989	253	2	of	of	ADP
ajfa-989	253	3	fixed	fix	VERB
ajfa-989	253	4	income	income	NOUN
ajfa-989	253	5	,	,	PUNCT
ajfa-989	253	6	13	13	NUM
ajfa-989	253	7	,	,	PUNCT
ajfa-989	253	8	55	55	NUM
ajfa-989	253	9	-	-	SYM
ajfa-989	253	10	66	66	NUM
ajfa-989	253	11	.	.	PUNCT
ajfa-989	254	1	http://dx.doi.org/10.3905/jfi.2003.319353	http://dx.doi.org/10.3905/jfi.2003.319353	PROPN
ajfa-989	254	2	jones	jones	PROPN
ajfa-989	254	3	,	,	PUNCT
ajfa-989	254	4	c.	c.	PROPN
ajfa-989	254	5	,	,	PUNCT
ajfa-989	254	6	wilson	wilson	PROPN
ajfa-989	254	7	,	,	PUNCT
ajfa-989	254	8	j.	j.	PROPN
ajfa-989	254	9	(	(	PUNCT
ajfa-989	254	10	2004	2004	NUM
ajfa-989	254	11	)	)	PUNCT
ajfa-989	254	12	.	.	PUNCT
ajfa-989	255	1	the	the	DET
ajfa-989	255	2	changing	change	VERB
ajfa-989	255	3	nature	nature	NOUN
ajfa-989	255	4	of	of	ADP
ajfa-989	255	5	stock	stock	NOUN
ajfa-989	255	6	and	and	CCONJ
ajfa-989	255	7	bond	bond	NOUN
ajfa-989	255	8	volatility	volatility	NOUN
ajfa-989	255	9	.	.	PUNCT
ajfa-989	256	1	financial	financial	ADJ
ajfa-989	256	2	analysts	analyst	NOUN
ajfa-989	256	3	journal	journal	NOUN
ajfa-989	256	4	,	,	PUNCT
ajfa-989	256	5	60	60	NUM
ajfa-989	256	6	,	,	PUNCT
ajfa-989	256	7	100	100	NUM
ajfa-989	256	8	-	-	SYM
ajfa-989	256	9	113	113	NUM
ajfa-989	256	10	.	.	PUNCT
ajfa-989	257	1	kwan	kwan	PROPN
ajfa-989	257	2	,	,	PUNCT
ajfa-989	257	3	s.	s.	PROPN
ajfa-989	257	4	h.	h.	PROPN
ajfa-989	257	5	(	(	PUNCT
ajfa-989	257	6	1996	1996	NUM
ajfa-989	257	7	)	)	PUNCT
ajfa-989	257	8	.	.	PUNCT
ajfa-989	258	1	firm	firm	ADJ
ajfa-989	258	2	-	-	PUNCT
ajfa-989	258	3	specific	specific	ADJ
ajfa-989	258	4	information	information	NOUN
ajfa-989	258	5	and	and	CCONJ
ajfa-989	258	6	the	the	DET
ajfa-989	258	7	correlation	correlation	NOUN
ajfa-989	258	8	between	between	ADP
ajfa-989	258	9	individual	individual	ADJ
ajfa-989	258	10	stocks	stock	NOUN
ajfa-989	258	11	and	and	CCONJ
ajfa-989	258	12	bonds	bond	NOUN
ajfa-989	258	13	.	.	PUNCT
ajfa-989	259	1	journal	journal	NOUN
ajfa-989	259	2	of	of	ADP
ajfa-989	259	3	financial	financial	ADJ
ajfa-989	259	4	economics	economic	NOUN
ajfa-989	259	5	,	,	PUNCT
ajfa-989	259	6	40	40	NUM
ajfa-989	259	7	,	,	PUNCT
ajfa-989	259	8	63	63	NUM
ajfa-989	259	9	-	-	SYM
ajfa-989	259	10	80	80	NUM
ajfa-989	259	11	.	.	PUNCT
ajfa-989	260	1	http://dx.doi.org/10.1016/0304-405x(95)00836-4	http://dx.doi.org/10.1016/0304-405x(95)00836-4	PROPN
ajfa-989	260	2	keim	keim	PROPN
ajfa-989	260	3	,	,	PUNCT
ajfa-989	260	4	d.b	d.b	PROPN
ajfa-989	260	5	.	.	PROPN
ajfa-989	260	6	stambaugh	stambaugh	PROPN
ajfa-989	260	7	,	,	PUNCT
ajfa-989	260	8	e.b	e.b	PROPN
ajfa-989	260	9	.	.	PUNCT
ajfa-989	260	10	(	(	PUNCT
ajfa-989	260	11	1986	1986	NUM
ajfa-989	260	12	)	)	PUNCT
ajfa-989	260	13	.	.	PUNCT
ajfa-989	261	1	predicting	predict	VERB
ajfa-989	261	2	returns	return	NOUN
ajfa-989	261	3	in	in	ADP
ajfa-989	261	4	the	the	DET
ajfa-989	261	5	stock	stock	NOUN
ajfa-989	261	6	and	and	CCONJ
ajfa-989	261	7	bond	bond	NOUN
ajfa-989	261	8	markets	market	NOUN
ajfa-989	261	9	.	.	PUNCT
ajfa-989	262	1	journal	journal	NOUN
ajfa-989	262	2	of	of	ADP
ajfa-989	262	3	financial	financial	ADJ
ajfa-989	262	4	economics	economic	NOUN
ajfa-989	262	5	,	,	PUNCT
ajfa-989	262	6	17	17	NUM
ajfa-989	262	7	,	,	PUNCT
ajfa-989	262	8	357	357	NUM
ajfa-989	262	9	-	-	SYM
ajfa-989	262	10	390	390	NUM
ajfa-989	262	11	.	.	PUNCT
ajfa-989	263	1	http://dx.doi.org/10.1016/0304-405x(86)90070-x	http://dx.doi.org/10.1016/0304-405x(86)90070-x	PROPN
ajfa-989	263	2	li	li	PROPN
ajfa-989	263	3	,	,	PUNCT
ajfa-989	263	4	l.	l.	PROPN
ajfa-989	263	5	(	(	PUNCT
ajfa-989	263	6	2002	2002	NUM
ajfa-989	263	7	)	)	PUNCT
ajfa-989	263	8	.	.	PUNCT
ajfa-989	264	1	macroeconomic	macroeconomic	ADJ
ajfa-989	264	2	factors	factor	NOUN
ajfa-989	264	3	and	and	CCONJ
ajfa-989	264	4	the	the	DET
ajfa-989	264	5	correlation	correlation	NOUN
ajfa-989	264	6	of	of	ADP
ajfa-989	264	7	stock	stock	NOUN
ajfa-989	264	8	and	and	CCONJ
ajfa-989	264	9	bond	bond	NOUN
ajfa-989	264	10	returns	return	NOUN
ajfa-989	264	11	.	.	PUNCT
ajfa-989	265	1	unpublished	unpublished	ADJ
ajfa-989	265	2	working	working	NOUN
ajfa-989	265	3	paper	paper	NOUN
ajfa-989	265	4	.	.	PUNCT
ajfa-989	266	1	yale	yale	PROPN
ajfa-989	266	2	international	international	PROPN
ajfa-989	266	3	center	center	PROPN
ajfa-989	266	4	for	for	ADP
ajfa-989	266	5	finance	finance	NOUN
ajfa-989	266	6	.	.	PUNCT
ajfa-989	267	1	markowitz	markowitz	PROPN
ajfa-989	267	2	,	,	PUNCT
ajfa-989	267	3	h.	h.	PROPN
ajfa-989	267	4	(	(	PUNCT
ajfa-989	267	5	1952	1952	NUM
ajfa-989	267	6	)	)	PUNCT
ajfa-989	267	7	.	.	PUNCT
ajfa-989	268	1	portfolio	portfolio	NOUN
ajfa-989	268	2	selection	selection	NOUN
ajfa-989	268	3	.	.	PUNCT
ajfa-989	269	1	journal	journal	PROPN
ajfa-989	269	2	of	of	ADP
ajfa-989	269	3	finance	finance	NOUN
ajfa-989	269	4	7	7	NUM
ajfa-989	269	5	,	,	PUNCT
ajfa-989	269	6	77	77	NUM
ajfa-989	269	7	-	-	SYM
ajfa-989	269	8	91	91	NUM
ajfa-989	269	9	.	.	PUNCT
ajfa-989	270	1	asian	asian	ADJ
ajfa-989	270	2	journal	journal	PROPN
ajfa-989	270	3	of	of	ADP
ajfa-989	270	4	finance	finance	PROPN
ajfa-989	270	5	&	&	CCONJ
ajfa-989	270	6	accounting	accounting	PROPN
ajfa-989	270	7	issn	issn	PROPN
ajfa-989	270	8	1946	1946	NUM
ajfa-989	270	9	-	-	PUNCT
ajfa-989	270	10	052x	052x	NOUN
ajfa-989	270	11	2011	2011	NUM
ajfa-989	270	12	,	,	PUNCT
ajfa-989	270	13	vol	vol	NOUN
ajfa-989	270	14	.	.	PROPN
ajfa-989	271	1	3	3	NUM
ajfa-989	271	2	,	,	PUNCT
ajfa-989	271	3	no	no	INTJ
ajfa-989	271	4	.	.	NOUN
ajfa-989	271	5	1	1	NUM
ajfa-989	271	6	:	:	PUNCT
ajfa-989	272	1	e5	e5	PROPN
ajfa-989	272	2	www.macrothink.org/ajfa	www.macrothink.org/ajfa	NUM
ajfa-989	272	3	85	85	NUM
ajfa-989	272	4	markowitz	markowitz	NOUN
ajfa-989	272	5	,	,	PUNCT
ajfa-989	272	6	h.	h.	PROPN
ajfa-989	272	7	(	(	PUNCT
ajfa-989	272	8	1959	1959	NUM
ajfa-989	272	9	)	)	PUNCT
ajfa-989	272	10	.	.	PUNCT
ajfa-989	273	1	portfolio	portfolio	NOUN
ajfa-989	273	2	selection	selection	NOUN
ajfa-989	273	3	:	:	PUNCT
ajfa-989	273	4	efficient	efficient	ADJ
ajfa-989	273	5	diversification	diversification	NOUN
ajfa-989	273	6	of	of	ADP
ajfa-989	273	7	investments	investment	NOUN
ajfa-989	273	8	.	.	PUNCT
ajfa-989	274	1	new	new	PROPN
ajfa-989	274	2	york	york	PROPN
ajfa-989	274	3	:	:	PUNCT
ajfa-989	274	4	wiley	wiley	PROPN
ajfa-989	274	5	(	(	PUNCT
ajfa-989	274	6	2nd	2nd	PROPN
ajfa-989	274	7	ed	ed	NOUN
ajfa-989	274	8	.	.	PUNCT
ajfa-989	274	9	)	)	PUNCT
ajfa-989	275	1	cambridge	cambridge	PROPN
ajfa-989	275	2	,	,	PUNCT
ajfa-989	275	3	ma	ma	PROPN
ajfa-989	275	4	:	:	PUNCT
ajfa-989	275	5	basil	basil	NOUN
ajfa-989	275	6	blackwell	blackwell	PROPN
ajfa-989	275	7	,	,	PUNCT
ajfa-989	275	8	1991	1991	NUM
ajfa-989	275	9	.	.	PUNCT
ajfa-989	276	1	saleem	saleem	PROPN
ajfa-989	276	2	,	,	PUNCT
ajfa-989	276	3	k.	k.	PROPN
ajfa-989	276	4	,	,	PUNCT
ajfa-989	276	5	vaihekoski	vaihekoski	NOUN
ajfa-989	276	6	,	,	PUNCT
ajfa-989	276	7	m.	m.	NOUN
ajfa-989	276	8	(	(	PUNCT
ajfa-989	276	9	2008	2008	NUM
ajfa-989	276	10	)	)	PUNCT
ajfa-989	276	11	.	.	PUNCT
ajfa-989	277	1	pricing	pricing	NOUN
ajfa-989	277	2	of	of	ADP
ajfa-989	277	3	global	global	ADJ
ajfa-989	277	4	and	and	CCONJ
ajfa-989	277	5	local	local	ADJ
ajfa-989	277	6	sources	source	NOUN
ajfa-989	277	7	of	of	ADP
ajfa-989	277	8	risk	risk	NOUN
ajfa-989	277	9	in	in	ADP
ajfa-989	277	10	russian	russian	ADJ
ajfa-989	277	11	stock	stock	NOUN
ajfa-989	277	12	market	market	NOUN
ajfa-989	277	13	.	.	PUNCT
ajfa-989	278	1	emerging	emerge	VERB
ajfa-989	278	2	markets	market	NOUN
ajfa-989	278	3	review	review	VERB
ajfa-989	278	4	9	9	NUM
ajfa-989	278	5	,	,	PUNCT
ajfa-989	278	6	40	40	NUM
ajfa-989	278	7	-	-	SYM
ajfa-989	278	8	56	56	NUM
ajfa-989	278	9	.	.	PUNCT
ajfa-989	279	1	http://dx.doi.org/10.1016/j.ememar.2007.08.002	http://dx.doi.org/10.1016/j.ememar.2007.08.002	NOUN
ajfa-989	279	2	schwert	schwert	NOUN
ajfa-989	279	3	,	,	PUNCT
ajfa-989	279	4	g.	g.	PROPN
ajfa-989	279	5	w.	w.	PROPN
ajfa-989	279	6	(	(	PUNCT
ajfa-989	279	7	1989	1989	NUM
ajfa-989	279	8	)	)	PUNCT
ajfa-989	279	9	.	.	PUNCT
ajfa-989	280	1	why	why	SCONJ
ajfa-989	280	2	does	do	AUX
ajfa-989	280	3	stock	stock	NOUN
ajfa-989	280	4	market	market	NOUN
ajfa-989	280	5	volatility	volatility	NOUN
ajfa-989	280	6	change	change	NOUN
ajfa-989	280	7	over	over	ADP
ajfa-989	280	8	time	time	NOUN
ajfa-989	280	9	?	?	PUNCT
ajfa-989	281	1	journal	journal	NOUN
ajfa-989	281	2	of	of	ADP
ajfa-989	281	3	finance	finance	PROPN
ajfa-989	281	4	44	44	NUM
ajfa-989	281	5	,	,	PUNCT
ajfa-989	281	6	1115	1115	NUM
ajfa-989	281	7	-	-	SYM
ajfa-989	281	8	53	53	NUM
ajfa-989	281	9	.	.	PUNCT
ajfa-989	282	1	shiller	shiller	PROPN
ajfa-989	282	2	,	,	PUNCT
ajfa-989	282	3	r.	r.	PROPN
ajfa-989	282	4	(	(	PUNCT
ajfa-989	282	5	beltratti	beltratti	PROPN
ajfa-989	282	6	,	,	PUNCT
ajfa-989	282	7	a.	a.	NOUN
ajfa-989	282	8	,	,	PUNCT
ajfa-989	282	9	1992	1992	NUM
ajfa-989	282	10	)	)	PUNCT
ajfa-989	282	11	.	.	PUNCT
ajfa-989	283	1	stock	stock	NOUN
ajfa-989	283	2	prices	price	NOUN
ajfa-989	283	3	and	and	CCONJ
ajfa-989	283	4	bond	bond	NOUN
ajfa-989	283	5	yields	yield	NOUN
ajfa-989	283	6	.	.	PUNCT
ajfa-989	284	1	journal	journal	NOUN
ajfa-989	284	2	of	of	ADP
ajfa-989	284	3	monetary	monetary	ADJ
ajfa-989	284	4	economics	economic	NOUN
ajfa-989	284	5	30	30	NUM
ajfa-989	284	6	,	,	PUNCT
ajfa-989	284	7	25	25	NUM
ajfa-989	284	8	-	-	SYM
ajfa-989	284	9	26	26	NUM
ajfa-989	284	10	.	.	PUNCT
ajfa-989	285	1	http://dx.doi.org/10.1016/0304-3932(92)90042-z	http://dx.doi.org/10.1016/0304-3932(92)90042-z	X
ajfa-989	285	2	scruggs	scruggs	PROPN
ajfa-989	285	3	,	,	PUNCT
ajfa-989	285	4	j.t	j.t	PROPN
ajfa-989	285	5	.	.	PROPN
ajfa-989	285	6	,	,	PUNCT
ajfa-989	285	7	glabdanidis	glabdanidis	PROPN
ajfa-989	285	8	,	,	PUNCT
ajfa-989	285	9	p.	p.	NOUN
ajfa-989	285	10	(	(	PUNCT
ajfa-989	285	11	2003	2003	NUM
ajfa-989	285	12	)	)	PUNCT
ajfa-989	285	13	.	.	PUNCT
ajfa-989	286	1	risk	risk	NOUN
ajfa-989	286	2	premia	premia	PROPN
ajfa-989	286	3	and	and	CCONJ
ajfa-989	286	4	the	the	DET
ajfa-989	286	5	dynamic	dynamic	ADJ
ajfa-989	286	6	covariance	covariance	NOUN
ajfa-989	286	7	between	between	ADP
ajfa-989	286	8	stock	stock	NOUN
ajfa-989	286	9	and	and	CCONJ
ajfa-989	286	10	bond	bond	NOUN
ajfa-989	286	11	return	return	NOUN
ajfa-989	286	12	.	.	PUNCT
ajfa-989	287	1	journal	journal	NOUN
ajfa-989	287	2	of	of	ADP
ajfa-989	287	3	financial	financial	ADJ
ajfa-989	287	4	and	and	CCONJ
ajfa-989	287	5	quantitative	quantitative	ADJ
ajfa-989	287	6	analysis	analysis	NOUN
ajfa-989	287	7	38	38	NUM
ajfa-989	287	8	,	,	PUNCT
ajfa-989	287	9	295	295	NUM
ajfa-989	287	10	-	-	SYM
ajfa-989	287	11	316	316	NUM
ajfa-989	287	12	.	.	PUNCT
ajfa-989	288	1	http://dx.doi.org/10.2307/4126752	http://dx.doi.org/10.2307/4126752	PROPN
ajfa-989	288	2	siegel	siegel	PROPN
ajfa-989	288	3	,	,	PUNCT
ajfa-989	288	4	j.j	j.j	PROPN
ajfa-989	288	5	.	.	PROPN
ajfa-989	288	6	(	(	PUNCT
ajfa-989	288	7	1998	1998	NUM
ajfa-989	288	8	)	)	PUNCT
ajfa-989	288	9	.	.	PUNCT
ajfa-989	289	1	stock	stock	NOUN
ajfa-989	289	2	for	for	ADP
ajfa-989	289	3	the	the	DET
ajfa-989	289	4	long	long	ADJ
ajfa-989	289	5	run	run	NOUN
ajfa-989	289	6	:	:	PUNCT
ajfa-989	289	7	a	a	DET
ajfa-989	289	8	guide	guide	NOUN
ajfa-989	289	9	to	to	ADP
ajfa-989	289	10	selecting	select	VERB
ajfa-989	289	11	markets	market	NOUN
ajfa-989	289	12	for	for	ADP
ajfa-989	289	13	longterm	longterm	ADJ
ajfa-989	289	14	growth	growth	NOUN
ajfa-989	289	15	.	.	PUNCT
ajfa-989	290	1	irwin	irwin	PROPN
ajfa-989	290	2	professional	professional	ADJ
ajfa-989	290	3	publishing	publishing	NOUN
ajfa-989	290	4	.	.	PUNCT