id	sid	tid	token	lemma	pos
dem-2899	1	1	microsoft	microsoft	PROPN
dem-2899	1	2	word	word	NOUN
dem-2899	1	3	00_tresc.docx	00_tresc.docx	X
dem-2899	1	4	©	©	PROPN
dem-2899	1	5	2013	2013	NUM
dem-2899	1	6	nicolaus	nicolaus	PROPN
dem-2899	1	7	copernicus	copernicus	PROPN
dem-2899	1	8	university	university	PROPN
dem-2899	1	9	.	.	PUNCT
dem-2899	2	1	all	all	DET
dem-2899	2	2	rights	right	NOUN
dem-2899	2	3	reserved	reserve	VERB
dem-2899	2	4	.	.	PUNCT
dem-2899	3	1	http://www.dem.umk.pl/dem	http://www.dem.umk.pl/dem	PROPN
dem-2899	4	1	d	d	PUNCT
dem-2899	4	2	y	y	PROPN
dem-2899	4	3	n	n	PROPN
dem-2899	4	4	a	a	PRON
dem-2899	4	5	m	m	VERB
dem-2899	5	1	i	i	NOUN
dem-2899	5	2	c	c	NOUN
dem-2899	5	3	e	e	NOUN
dem-2899	5	4	c	c	NOUN
dem-2899	5	5	o	o	X
dem-2899	6	1	n	n	INTJ
dem-2899	6	2	o	o	NOUN
dem-2899	6	3	m	m	VERB
dem-2899	7	1	e	e	NOUN
dem-2899	7	2	t	t	NOUN
dem-2899	7	3	r	r	NOUN
dem-2899	7	4	i	i	NOUN
dem-2899	7	5	c	c	NOUN
dem-2899	7	6	m	m	VERB
dem-2899	7	7	o	o	NOUN
dem-2899	7	8	d	d	X
dem-2899	7	9	e	e	X
dem-2899	7	10	l	l	NOUN
dem-2899	7	11	s	s	X
dem-2899	7	12	doi	doi	NOUN
dem-2899	7	13	:	:	PUNCT
dem-2899	7	14	http://dx.doi.org/10.12775/dem.2013.005	http://dx.doi.org/10.12775/dem.2013.005	VERB
dem-2899	7	15	vol	vol	NOUN
dem-2899	7	16	.	.	PROPN
dem-2899	8	1	13	13	NUM
dem-2899	8	2	(	(	PUNCT
dem-2899	8	3	2013	2013	NUM
dem-2899	8	4	)	)	PUNCT
dem-2899	8	5	87−106	87−106	NOUN
dem-2899	8	6	submitted	submit	VERB
dem-2899	8	7	october	october	PROPN
dem-2899	8	8	21	21	NUM
dem-2899	8	9	,	,	PUNCT
dem-2899	8	10	2013	2013	NUM
dem-2899	8	11	issn	issn	AUX
dem-2899	8	12	accepted	accept	VERB
dem-2899	8	13	december	december	PROPN
dem-2899	8	14	30	30	NUM
dem-2899	8	15	,	,	PUNCT
dem-2899	8	16	2013	2013	NUM
dem-2899	8	17	1234	1234	NUM
dem-2899	8	18	-	-	SYM
dem-2899	8	19	3862	3862	NUM
dem-2899	8	20	agata	agata	PROPN
dem-2899	8	21	kliber	kliber	PROPN
dem-2899	8	22	,	,	PUNCT
dem-2899	8	23	barbara	barbara	PROPN
dem-2899	8	24	będowska	będowska	PROPN
dem-2899	8	25	-	-	PUNCT
dem-2899	8	26	sójka	sójka	PROPN
dem-2899	8	27	*	*	ADJ
dem-2899	8	28	economic	economic	ADJ
dem-2899	8	29	situation	situation	NOUN
dem-2899	8	30	of	of	ADP
dem-2899	8	31	the	the	DET
dem-2899	8	32	country	country	NOUN
dem-2899	8	33	or	or	CCONJ
dem-2899	8	34	risk	risk	NOUN
dem-2899	8	35	in	in	ADP
dem-2899	8	36	the	the	DET
dem-2899	8	37	world	world	NOUN
dem-2899	8	38	financial	financial	ADJ
dem-2899	8	39	market	market	NOUN
dem-2899	8	40	?	?	PUNCT
dem-2899	9	1	the	the	DET
dem-2899	9	2	dynamics	dynamic	NOUN
dem-2899	9	3	of	of	ADP
dem-2899	9	4	polish	polish	ADJ
dem-2899	9	5	sovereign	sovereign	ADJ
dem-2899	9	6	credit	credit	NOUN
dem-2899	9	7	default	default	NOUN
dem-2899	9	8	swap	swap	NOUN
dem-2899	9	9	spreads∗∗	spreads∗∗	NOUN
dem-2899	9	10	a	a	DET
dem-2899	9	11	b	b	PROPN
dem-2899	9	12	s	s	ADP
dem-2899	9	13	t	t	PROPN
dem-2899	9	14	r	r	NOUN
dem-2899	9	15	a	a	DET
dem-2899	9	16	c	c	NOUN
dem-2899	9	17	t.	t.	NOUN
dem-2899	9	18	in	in	ADP
dem-2899	9	19	the	the	DET
dem-2899	9	20	article	article	NOUN
dem-2899	9	21	we	we	PRON
dem-2899	9	22	examine	examine	VERB
dem-2899	9	23	what	what	PRON
dem-2899	9	24	determines	determine	VERB
dem-2899	9	25	the	the	DET
dem-2899	9	26	polish	polish	ADJ
dem-2899	9	27	sovereign	sovereign	ADJ
dem-2899	9	28	credit	credit	NOUN
dem-2899	9	29	default	default	NOUN
dem-2899	9	30	swap	swap	NOUN
dem-2899	9	31	dynamics	dynamic	NOUN
dem-2899	9	32	.	.	PUNCT
dem-2899	10	1	we	we	PRON
dem-2899	10	2	consider	consider	VERB
dem-2899	10	3	not	not	PART
dem-2899	10	4	only	only	ADV
dem-2899	10	5	measures	measure	NOUN
dem-2899	10	6	of	of	ADP
dem-2899	10	7	changes	change	NOUN
dem-2899	10	8	of	of	ADP
dem-2899	10	9	the	the	DET
dem-2899	10	10	economic	economic	ADJ
dem-2899	10	11	situation	situation	NOUN
dem-2899	10	12	of	of	ADP
dem-2899	10	13	the	the	DET
dem-2899	10	14	country	country	NOUN
dem-2899	10	15	,	,	PUNCT
dem-2899	10	16	but	but	CCONJ
dem-2899	10	17	also	also	ADV
dem-2899	10	18	the	the	DET
dem-2899	10	19	impact	impact	NOUN
dem-2899	10	20	of	of	ADP
dem-2899	10	21	the	the	DET
dem-2899	10	22	international	international	ADJ
dem-2899	10	23	data	datum	NOUN
dem-2899	10	24	.	.	PUNCT
dem-2899	11	1	we	we	PRON
dem-2899	11	2	find	find	VERB
dem-2899	11	3	that	that	SCONJ
dem-2899	11	4	the	the	DET
dem-2899	11	5	dynamics	dynamic	NOUN
dem-2899	11	6	of	of	ADP
dem-2899	11	7	the	the	DET
dem-2899	11	8	polish	polish	ADJ
dem-2899	11	9	scdss	scdss	NOUN
dem-2899	11	10	is	be	AUX
dem-2899	11	11	very	very	ADV
dem-2899	11	12	vulnerable	vulnerable	ADJ
dem-2899	11	13	to	to	ADP
dem-2899	11	14	the	the	DET
dem-2899	11	15	dynamics	dynamic	NOUN
dem-2899	11	16	of	of	ADP
dem-2899	11	17	exchange	exchange	NOUN
dem-2899	11	18	rates	rate	NOUN
dem-2899	11	19	,	,	PUNCT
dem-2899	11	20	stock	stock	NOUN
dem-2899	11	21	indices	index	NOUN
dem-2899	11	22	and	and	CCONJ
dem-2899	11	23	bond	bond	NOUN
dem-2899	11	24	spreads	spread	NOUN
dem-2899	11	25	.	.	PUNCT
dem-2899	12	1	these	these	DET
dem-2899	12	2	variables	variable	NOUN
dem-2899	12	3	allow	allow	VERB
dem-2899	12	4	us	we	PRON
dem-2899	12	5	to	to	PART
dem-2899	12	6	explain	explain	VERB
dem-2899	12	7	its	its	PRON
dem-2899	12	8	behavior	behavior	NOUN
dem-2899	12	9	without	without	ADP
dem-2899	12	10	including	include	VERB
dem-2899	12	11	variables	variable	NOUN
dem-2899	12	12	reflecting	reflect	VERB
dem-2899	12	13	economic	economic	ADJ
dem-2899	12	14	situation	situation	NOUN
dem-2899	12	15	of	of	ADP
dem-2899	12	16	the	the	DET
dem-2899	12	17	country	country	NOUN
dem-2899	12	18	.	.	PUNCT
dem-2899	13	1	it	it	PRON
dem-2899	13	2	is	be	AUX
dem-2899	13	3	shown	show	VERB
dem-2899	13	4	that	that	SCONJ
dem-2899	13	5	the	the	DET
dem-2899	13	6	impact	impact	NOUN
dem-2899	13	7	of	of	ADP
dem-2899	13	8	information	information	NOUN
dem-2899	13	9	inflow	inflow	NOUN
dem-2899	13	10	is	be	AUX
dem-2899	13	11	also	also	ADV
dem-2899	13	12	important	important	ADJ
dem-2899	13	13	.	.	PUNCT
dem-2899	14	1	k	k	PROPN
dem-2899	14	2	e	e	PROPN
dem-2899	14	3	y	y	PROPN
dem-2899	14	4	w	w	NOUN
dem-2899	14	5	o	o	NOUN
dem-2899	14	6	r	r	NOUN
dem-2899	14	7	d	d	X
dem-2899	14	8	s	s	NOUN
dem-2899	14	9	:	:	PUNCT
dem-2899	14	10	sovereign	sovereign	ADJ
dem-2899	14	11	credit	credit	NOUN
dem-2899	14	12	default	default	NOUN
dem-2899	14	13	swap	swap	NOUN
dem-2899	14	14	,	,	PUNCT
dem-2899	14	15	bond	bond	NOUN
dem-2899	14	16	spread	spread	NOUN
dem-2899	14	17	,	,	PUNCT
dem-2899	14	18	stock	stock	NOUN
dem-2899	14	19	exchange	exchange	NOUN
dem-2899	14	20	indices	index	NOUN
dem-2899	14	21	,	,	PUNCT
dem-2899	14	22	exchange	exchange	NOUN
dem-2899	14	23	rates	rate	NOUN
dem-2899	14	24	,	,	PUNCT
dem-2899	14	25	sunspots	sunspot	NOUN
dem-2899	14	26	,	,	PUNCT
dem-2899	14	27	volatility	volatility	NOUN
dem-2899	14	28	transmission	transmission	NOUN
dem-2899	14	29	,	,	PUNCT
dem-2899	14	30	volatility	volatility	NOUN
dem-2899	14	31	models	model	NOUN
dem-2899	14	32	,	,	PUNCT
dem-2899	14	33	principal	principal	ADJ
dem-2899	14	34	component	component	NOUN
dem-2899	14	35	analysis	analysis	NOUN
dem-2899	14	36	,	,	PUNCT
dem-2899	14	37	event	event	NOUN
dem-2899	14	38	analysis	analysis	NOUN
dem-2899	14	39	.	.	PUNCT
dem-2899	15	1	j	j	PROPN
dem-2899	15	2	e	e	NOUN
dem-2899	15	3	l	l	NOUN
dem-2899	15	4	classification	classification	NOUN
dem-2899	15	5	:	:	PUNCT
dem-2899	15	6	c22	c22	NOUN
dem-2899	15	7	,	,	PUNCT
dem-2899	15	8	g14	g14	NOUN
dem-2899	15	9	,	,	PUNCT
dem-2899	15	10	g32	g32	NOUN
dem-2899	15	11	.	.	PUNCT
dem-2899	16	1	introduction	introduction	NOUN
dem-2899	16	2	credit	credit	NOUN
dem-2899	16	3	derivatives	derivative	NOUN
dem-2899	16	4	were	be	AUX
dem-2899	16	5	perceived	perceive	VERB
dem-2899	16	6	as	as	ADP
dem-2899	16	7	a	a	DET
dem-2899	16	8	successful	successful	ADJ
dem-2899	16	9	financial	financial	ADJ
dem-2899	16	10	innovation	innovation	NOUN
dem-2899	16	11	in	in	ADP
dem-2899	16	12	the	the	DET
dem-2899	16	13	90s	90	NOUN
dem-2899	16	14	.	.	PUNCT
dem-2899	17	1	the	the	DET
dem-2899	17	2	most	most	ADV
dem-2899	17	3	common	common	ADJ
dem-2899	17	4	type	type	NOUN
dem-2899	17	5	of	of	ADP
dem-2899	17	6	credit	credit	NOUN
dem-2899	17	7	derivatives	derivative	NOUN
dem-2899	17	8	are	be	AUX
dem-2899	17	9	credit	credit	NOUN
dem-2899	17	10	default	default	NOUN
dem-2899	17	11	swaps	swap	NOUN
dem-2899	17	12	*	*	PUNCT
dem-2899	17	13	correspondence	correspondence	NOUN
dem-2899	17	14	to	to	ADP
dem-2899	17	15	:	:	PUNCT
dem-2899	17	16	agata	agata	PROPN
dem-2899	17	17	kliber	kliber	PROPN
dem-2899	17	18	,	,	PUNCT
dem-2899	17	19	poznań	poznań	PROPN
dem-2899	17	20	university	university	PROPN
dem-2899	17	21	of	of	ADP
dem-2899	17	22	economics	economic	NOUN
dem-2899	17	23	,	,	PUNCT
dem-2899	17	24	department	department	NOUN
dem-2899	17	25	of	of	ADP
dem-2899	17	26	applied	apply	VERB
dem-2899	17	27	mathematics	mathematic	NOUN
dem-2899	17	28	,	,	PUNCT
dem-2899	17	29	al	al	PROPN
dem-2899	17	30	.	.	PUNCT
dem-2899	18	1	niepodległości	niepodległości	PROPN
dem-2899	18	2	10	10	NUM
dem-2899	18	3	,	,	PUNCT
dem-2899	18	4	61	61	NUM
dem-2899	18	5	-	-	SYM
dem-2899	18	6	875	875	NUM
dem-2899	18	7	poznań	poznań	NOUN
dem-2899	18	8	,	,	PUNCT
dem-2899	18	9	poland	poland	PROPN
dem-2899	18	10	,	,	PUNCT
dem-2899	18	11	e	e	NOUN
dem-2899	18	12	-	-	NOUN
dem-2899	18	13	mail	mail	NOUN
dem-2899	18	14	:	:	PUNCT
dem-2899	18	15	agata.kliber@ue.poznan.pl	agata.kliber@ue.poznan.pl	PROPN
dem-2899	18	16	;	;	PUNCT
dem-2899	19	1	barbara	barbara	PROPN
dem-2899	19	2	będowska	będowska	PROPN
dem-2899	19	3	-	-	PUNCT
dem-2899	19	4	sójka	sójka	PROPN
dem-2899	19	5	,	,	PUNCT
dem-2899	19	6	poznań	poznań	PROPN
dem-2899	19	7	university	university	PROPN
dem-2899	19	8	of	of	ADP
dem-2899	19	9	economics	economic	NOUN
dem-2899	19	10	,	,	PUNCT
dem-2899	19	11	department	department	NOUN
dem-2899	19	12	of	of	ADP
dem-2899	19	13	econometrics	econometrics	PROPN
dem-2899	19	14	,	,	PUNCT
dem-2899	19	15	al	al	PROPN
dem-2899	19	16	.	.	PUNCT
dem-2899	19	17	niepodległości	niepodległości	PROPN
dem-2899	19	18	10	10	NUM
dem-2899	19	19	,	,	PUNCT
dem-2899	19	20	61	61	NUM
dem-2899	19	21	-	-	SYM
dem-2899	19	22	875	875	NUM
dem-2899	19	23	poznań	poznań	NOUN
dem-2899	19	24	,	,	PUNCT
dem-2899	19	25	poland	poland	PROPN
dem-2899	19	26	,	,	PUNCT
dem-2899	19	27	barbara.bedowskasojka@ue.poznan.pl	barbara.bedowskasojka@ue.poznan.pl	X
dem-2899	19	28	.	.	PUNCT
dem-2899	20	1	∗∗	∗∗	NOUN
dem-2899	20	2	this	this	DET
dem-2899	20	3	work	work	NOUN
dem-2899	20	4	was	be	AUX
dem-2899	20	5	partially	partially	ADV
dem-2899	20	6	financed	finance	VERB
dem-2899	20	7	by	by	ADP
dem-2899	20	8	the	the	DET
dem-2899	20	9	polish	polish	PROPN
dem-2899	20	10	ministry	ministry	PROPN
dem-2899	20	11	of	of	ADP
dem-2899	20	12	science	science	PROPN
dem-2899	20	13	and	and	CCONJ
dem-2899	20	14	higher	high	ADJ
dem-2899	20	15	education	education	NOUN
dem-2899	20	16	through	through	ADP
dem-2899	20	17	the	the	DET
dem-2899	20	18	project	project	NOUN
dem-2899	20	19	number	number	NOUN
dem-2899	20	20	n	n	ADP
dem-2899	20	21	n112	n112	PROPN
dem-2899	20	22	372340	372340	NUM
dem-2899	20	23	.	.	PUNCT
dem-2899	21	1	agata	agata	PROPN
dem-2899	21	2	kliber	kliber	PROPN
dem-2899	21	3	,	,	PUNCT
dem-2899	21	4	barbara	barbara	PROPN
dem-2899	21	5	będowska	będowska	PROPN
dem-2899	21	6	-	-	PUNCT
dem-2899	21	7	sójka	sójka	ADV
dem-2899	21	8	dynamic	dynamic	ADJ
dem-2899	21	9	econometric	econometric	ADJ
dem-2899	21	10	models	model	NOUN
dem-2899	21	11	13	13	NUM
dem-2899	21	12	(	(	PUNCT
dem-2899	21	13	2013	2013	NUM
dem-2899	21	14	)	)	PUNCT
dem-2899	21	15	87–106	87–106	NUM
dem-2899	21	16	88	88	NUM
dem-2899	21	17	(	(	PUNCT
dem-2899	21	18	cds	cds	PROPN
dem-2899	21	19	)	)	PUNCT
dem-2899	21	20	.	.	PUNCT
dem-2899	22	1	in	in	ADP
dem-2899	22	2	a	a	DET
dem-2899	22	3	credit	credit	NOUN
dem-2899	22	4	default	default	NOUN
dem-2899	22	5	swap	swap	NOUN
dem-2899	22	6	one	one	NUM
dem-2899	22	7	party	party	NOUN
dem-2899	22	8	of	of	ADP
dem-2899	22	9	the	the	DET
dem-2899	22	10	contract	contract	NOUN
dem-2899	22	11	buys	buy	VERB
dem-2899	22	12	protection	protection	NOUN
dem-2899	22	13	and	and	CCONJ
dem-2899	22	14	pays	pay	VERB
dem-2899	22	15	the	the	DET
dem-2899	22	16	seller	seller	NOUN
dem-2899	22	17	a	a	DET
dem-2899	22	18	fixed	fix	VERB
dem-2899	22	19	premium	premium	NOUN
dem-2899	22	20	each	each	DET
dem-2899	22	21	period	period	NOUN
dem-2899	22	22	,	,	PUNCT
dem-2899	22	23	until	until	SCONJ
dem-2899	22	24	either	either	DET
dem-2899	22	25	default	default	NOUN
dem-2899	22	26	occurs	occur	VERB
dem-2899	22	27	or	or	CCONJ
dem-2899	22	28	the	the	DET
dem-2899	22	29	swap	swap	NOUN
dem-2899	22	30	contract	contract	NOUN
dem-2899	22	31	matures	mature	NOUN
dem-2899	22	32	.	.	PUNCT
dem-2899	23	1	if	if	SCONJ
dem-2899	23	2	a	a	DET
dem-2899	23	3	default	default	NOUN
dem-2899	23	4	occurs	occur	VERB
dem-2899	23	5	,	,	PUNCT
dem-2899	23	6	the	the	DET
dem-2899	23	7	seller	seller	NOUN
dem-2899	23	8	is	be	AUX
dem-2899	23	9	obligated	obligate	VERB
dem-2899	23	10	to	to	PART
dem-2899	23	11	buy	buy	VERB
dem-2899	23	12	back	back	ADV
dem-2899	23	13	from	from	ADP
dem-2899	23	14	the	the	DET
dem-2899	23	15	buyer	buyer	NOUN
dem-2899	23	16	the	the	DET
dem-2899	23	17	defaulted	defaulted	ADJ
dem-2899	23	18	bond	bond	NOUN
dem-2899	23	19	at	at	ADP
dem-2899	23	20	its	its	PRON
dem-2899	23	21	nominal	nominal	ADJ
dem-2899	23	22	value	value	NOUN
dem-2899	23	23	.	.	PUNCT
dem-2899	24	1	the	the	DET
dem-2899	24	2	sovereign	sovereign	ADJ
dem-2899	24	3	credit	credit	NOUN
dem-2899	24	4	default	default	NOUN
dem-2899	24	5	swaps	swap	NOUN
dem-2899	24	6	(	(	PUNCT
dem-2899	24	7	scds	scds	PROPN
dem-2899	24	8	)	)	PUNCT
dem-2899	24	9	are	be	AUX
dem-2899	24	10	financial	financial	ADJ
dem-2899	24	11	instruments	instrument	NOUN
dem-2899	24	12	perceived	perceive	VERB
dem-2899	24	13	as	as	ADP
dem-2899	24	14	a	a	DET
dem-2899	24	15	protection	protection	NOUN
dem-2899	24	16	against	against	ADP
dem-2899	24	17	insolvency	insolvency	NOUN
dem-2899	24	18	on	on	ADP
dem-2899	24	19	debt	debt	NOUN
dem-2899	24	20	issued	issue	VERB
dem-2899	24	21	by	by	ADP
dem-2899	24	22	the	the	DET
dem-2899	24	23	sovereign	sovereign	ADJ
dem-2899	24	24	borrower	borrower	NOUN
dem-2899	24	25	(	(	PUNCT
dem-2899	24	26	a	a	DET
dem-2899	24	27	country	country	NOUN
dem-2899	24	28	)	)	PUNCT
dem-2899	24	29	.	.	PUNCT
dem-2899	25	1	the	the	DET
dem-2899	25	2	protection	protection	NOUN
dem-2899	25	3	buyer	buyer	NOUN
dem-2899	25	4	pays	pay	VERB
dem-2899	25	5	a	a	DET
dem-2899	25	6	regular	regular	ADJ
dem-2899	25	7	premium	premium	NOUN
dem-2899	25	8	,	,	PUNCT
dem-2899	25	9	the	the	DET
dem-2899	25	10	socalled	socalle	VERB
dem-2899	25	11	cds	cd	NOUN
dem-2899	25	12	spread	spread	VERB
dem-2899	25	13	.	.	PUNCT
dem-2899	26	1	during	during	ADP
dem-2899	26	2	the	the	DET
dem-2899	26	3	financial	financial	ADJ
dem-2899	26	4	crisis	crisis	NOUN
dem-2899	26	5	in	in	ADP
dem-2899	26	6	2008–2009	2008–2009	NUM
dem-2899	26	7	investors	investor	NOUN
dem-2899	26	8	became	become	VERB
dem-2899	26	9	concerned	concerned	ADJ
dem-2899	26	10	about	about	ADP
dem-2899	26	11	the	the	DET
dem-2899	26	12	overall	overall	ADJ
dem-2899	26	13	economic	economic	ADJ
dem-2899	26	14	situation	situation	NOUN
dem-2899	26	15	and	and	CCONJ
dem-2899	26	16	as	as	ADP
dem-2899	26	17	a	a	DET
dem-2899	26	18	result	result	NOUN
dem-2899	26	19	scds	scds	NOUN
dem-2899	26	20	spreads	spread	NOUN
dem-2899	26	21	rose	rise	VERB
dem-2899	26	22	sharply	sharply	ADV
dem-2899	26	23	.	.	PUNCT
dem-2899	27	1	the	the	DET
dem-2899	27	2	reason	reason	NOUN
dem-2899	27	3	is	be	AUX
dem-2899	27	4	that	that	SCONJ
dem-2899	27	5	the	the	DET
dem-2899	27	6	price	price	NOUN
dem-2899	27	7	of	of	ADP
dem-2899	27	8	the	the	DET
dem-2899	27	9	scds	scds	NOUN
dem-2899	27	10	contracts	contract	NOUN
dem-2899	27	11	is	be	AUX
dem-2899	27	12	believed	believe	VERB
dem-2899	27	13	to	to	PART
dem-2899	27	14	represent	represent	VERB
dem-2899	27	15	the	the	DET
dem-2899	27	16	risk	risk	NOUN
dem-2899	27	17	associated	associate	VERB
dem-2899	27	18	with	with	ADP
dem-2899	27	19	the	the	DET
dem-2899	27	20	country	country	NOUN
dem-2899	27	21	.	.	PUNCT
dem-2899	28	1	this	this	PRON
dem-2899	28	2	is	be	AUX
dem-2899	28	3	embedded	embed	VERB
dem-2899	28	4	in	in	ADP
dem-2899	28	5	the	the	DET
dem-2899	28	6	nature	nature	NOUN
dem-2899	28	7	of	of	ADP
dem-2899	28	8	the	the	DET
dem-2899	28	9	contract	contract	NOUN
dem-2899	28	10	,	,	PUNCT
dem-2899	28	11	which	which	PRON
dem-2899	28	12	can	can	AUX
dem-2899	28	13	be	be	AUX
dem-2899	28	14	interpreted	interpret	VERB
dem-2899	28	15	as	as	ADP
dem-2899	28	16	a	a	DET
dem-2899	28	17	bet	bet	NOUN
dem-2899	28	18	on	on	ADP
dem-2899	28	19	the	the	DET
dem-2899	28	20	country	country	NOUN
dem-2899	28	21	default	default	NOUN
dem-2899	28	22	or	or	CCONJ
dem-2899	28	23	the	the	DET
dem-2899	28	24	“	"	PUNCT
dem-2899	28	25	insurance	insurance	NOUN
dem-2899	28	26	”	"	PUNCT
dem-2899	28	27	against	against	ADP
dem-2899	28	28	the	the	DET
dem-2899	28	29	situation	situation	NOUN
dem-2899	28	30	that	that	SCONJ
dem-2899	28	31	the	the	DET
dem-2899	28	32	country	country	NOUN
dem-2899	28	33	would	would	AUX
dem-2899	28	34	not	not	PART
dem-2899	28	35	pay	pay	VERB
dem-2899	28	36	its	its	PRON
dem-2899	28	37	obligations	obligation	NOUN
dem-2899	28	38	.	.	PUNCT
dem-2899	29	1	if	if	SCONJ
dem-2899	29	2	the	the	DET
dem-2899	29	3	risk	risk	NOUN
dem-2899	29	4	associated	associate	VERB
dem-2899	29	5	with	with	ADP
dem-2899	29	6	the	the	DET
dem-2899	29	7	country	country	NOUN
dem-2899	29	8	grows	grow	VERB
dem-2899	29	9	,	,	PUNCT
dem-2899	29	10	the	the	DET
dem-2899	29	11	price	price	NOUN
dem-2899	29	12	of	of	ADP
dem-2899	29	13	the	the	DET
dem-2899	29	14	“	"	PUNCT
dem-2899	29	15	insurance	insurance	NOUN
dem-2899	29	16	”	"	PUNCT
dem-2899	29	17	must	must	AUX
dem-2899	29	18	grow	grow	VERB
dem-2899	29	19	as	as	ADV
dem-2899	29	20	well	well	ADV
dem-2899	29	21	.	.	PUNCT
dem-2899	30	1	cds	cd	NOUN
dem-2899	30	2	contract	contract	NOUN
dem-2899	30	3	to	to	ADP
dem-2899	30	4	some	some	DET
dem-2899	30	5	extent	extent	NOUN
dem-2899	30	6	may	may	AUX
dem-2899	30	7	be	be	AUX
dem-2899	30	8	perceived	perceive	VERB
dem-2899	30	9	as	as	ADP
dem-2899	30	10	an	an	DET
dem-2899	30	11	insurance	insurance	NOUN
dem-2899	30	12	,	,	PUNCT
dem-2899	30	13	although	although	SCONJ
dem-2899	30	14	it	it	PRON
dem-2899	30	15	differs	differ	VERB
dem-2899	30	16	in	in	ADP
dem-2899	30	17	the	the	DET
dem-2899	30	18	sense	sense	NOUN
dem-2899	30	19	that	that	SCONJ
dem-2899	30	20	the	the	DET
dem-2899	30	21	protection	protection	NOUN
dem-2899	30	22	buyer	buyer	NOUN
dem-2899	30	23	may	may	AUX
dem-2899	30	24	receive	receive	VERB
dem-2899	30	25	the	the	DET
dem-2899	30	26	payment	payment	NOUN
dem-2899	30	27	without	without	ADP
dem-2899	30	28	suffering	suffer	VERB
dem-2899	30	29	any	any	DET
dem-2899	30	30	loses	lose	NOUN
dem-2899	30	31	.	.	PUNCT
dem-2899	31	1	as	as	ADP
dem-2899	31	2	from	from	ADP
dem-2899	31	3	the	the	DET
dem-2899	31	4	start	start	NOUN
dem-2899	31	5	of	of	ADP
dem-2899	31	6	global	global	ADJ
dem-2899	31	7	financial	financial	ADJ
dem-2899	31	8	crisis	crisis	NOUN
dem-2899	31	9	scds	scds	NOUN
dem-2899	31	10	spreads	spread	NOUN
dem-2899	31	11	have	have	AUX
dem-2899	31	12	risen	rise	VERB
dem-2899	31	13	substantially	substantially	ADV
dem-2899	31	14	and	and	CCONJ
dem-2899	31	15	then	then	ADV
dem-2899	31	16	dropped	drop	VERB
dem-2899	31	17	almost	almost	ADV
dem-2899	31	18	to	to	ADP
dem-2899	31	19	the	the	DET
dem-2899	31	20	initial	initial	ADJ
dem-2899	31	21	level	level	NOUN
dem-2899	31	22	,	,	PUNCT
dem-2899	31	23	of	of	ADP
dem-2899	31	24	particular	particular	ADJ
dem-2899	31	25	interest	interest	NOUN
dem-2899	31	26	is	be	AUX
dem-2899	31	27	if	if	SCONJ
dem-2899	31	28	these	these	DET
dem-2899	31	29	changes	change	NOUN
dem-2899	31	30	of	of	ADP
dem-2899	31	31	spreads	spread	NOUN
dem-2899	31	32	are	be	AUX
dem-2899	31	33	driven	drive	VERB
dem-2899	31	34	by	by	ADP
dem-2899	31	35	real	real	ADJ
dem-2899	31	36	economic	economic	ADJ
dem-2899	31	37	situation	situation	NOUN
dem-2899	31	38	.	.	PUNCT
dem-2899	32	1	usually	usually	ADV
dem-2899	32	2	the	the	DET
dem-2899	32	3	economic	economic	ADJ
dem-2899	32	4	indicators	indicator	NOUN
dem-2899	32	5	are	be	AUX
dem-2899	32	6	perceived	perceive	VERB
dem-2899	32	7	as	as	ADP
dem-2899	32	8	those	those	PRON
dem-2899	32	9	that	that	PRON
dem-2899	32	10	represent	represent	VERB
dem-2899	32	11	the	the	DET
dem-2899	32	12	economic	economic	ADJ
dem-2899	32	13	situation	situation	NOUN
dem-2899	32	14	of	of	ADP
dem-2899	32	15	the	the	DET
dem-2899	32	16	country	country	NOUN
dem-2899	32	17	(	(	PUNCT
dem-2899	32	18	see	see	VERB
dem-2899	32	19	e.g.	e.g.	ADV
dem-2899	32	20	kosmidou	kosmidou	NOUN
dem-2899	32	21	,	,	PUNCT
dem-2899	32	22	2008	2008	NUM
dem-2899	32	23	)	)	PUNCT
dem-2899	32	24	.	.	PUNCT
dem-2899	33	1	however	however	ADV
dem-2899	33	2	,	,	PUNCT
dem-2899	33	3	most	most	ADJ
dem-2899	33	4	of	of	ADP
dem-2899	33	5	the	the	DET
dem-2899	33	6	indicators	indicator	NOUN
dem-2899	33	7	are	be	AUX
dem-2899	33	8	of	of	ADP
dem-2899	33	9	monthly	monthly	ADJ
dem-2899	33	10	or	or	CCONJ
dem-2899	33	11	quarterly	quarterly	ADJ
dem-2899	33	12	frequency	frequency	NOUN
dem-2899	33	13	,	,	PUNCT
dem-2899	33	14	while	while	SCONJ
dem-2899	33	15	the	the	DET
dem-2899	33	16	scds	scds	NOUN
dem-2899	33	17	instruments	instrument	NOUN
dem-2899	33	18	are	be	AUX
dem-2899	33	19	traded	trade	VERB
dem-2899	33	20	daily	daily	ADV
dem-2899	33	21	.	.	PUNCT
dem-2899	34	1	therefore	therefore	ADV
dem-2899	34	2	,	,	PUNCT
dem-2899	34	3	researchers	researcher	NOUN
dem-2899	34	4	point	point	VERB
dem-2899	34	5	out	out	ADP
dem-2899	34	6	that	that	SCONJ
dem-2899	34	7	the	the	DET
dem-2899	34	8	scds	scds	PROPN
dem-2899	34	9	premia	premia	PROPN
dem-2899	34	10	is	be	AUX
dem-2899	34	11	very	very	ADV
dem-2899	34	12	vulnerable	vulnerable	ADJ
dem-2899	34	13	to	to	ADP
dem-2899	34	14	sunspots	sunspot	NOUN
dem-2899	34	15	and	and	CCONJ
dem-2899	34	16	expectations	expectation	NOUN
dem-2899	34	17	and	and	CCONJ
dem-2899	34	18	it	it	PRON
dem-2899	34	19	may	may	AUX
dem-2899	34	20	not	not	PART
dem-2899	34	21	reflect	reflect	VERB
dem-2899	34	22	the	the	DET
dem-2899	34	23	risk	risk	NOUN
dem-2899	34	24	properly	properly	ADV
dem-2899	34	25	(	(	PUNCT
dem-2899	34	26	see	see	VERB
dem-2899	34	27	eg	eg	NOUN
dem-2899	34	28	.	.	PUNCT
dem-2899	35	1	longstaff	longstaff	PROPN
dem-2899	35	2	et	et	PROPN
dem-2899	35	3	al	al	PROPN
dem-2899	35	4	.	.	PROPN
dem-2899	35	5	,	,	PUNCT
dem-2899	35	6	2005	2005	NUM
dem-2899	35	7	;	;	PUNCT
dem-2899	35	8	longstaff	longstaff	PROPN
dem-2899	35	9	et	et	PROPN
dem-2899	35	10	al	al	PROPN
dem-2899	35	11	.	.	PROPN
dem-2899	35	12	,	,	PUNCT
dem-2899	35	13	2011	2011	NUM
dem-2899	35	14	;	;	PUNCT
dem-2899	35	15	plank	plank	NOUN
dem-2899	35	16	,	,	PUNCT
dem-2899	35	17	2010	2010	NUM
dem-2899	35	18	)	)	PUNCT
dem-2899	35	19	.	.	PUNCT
dem-2899	36	1	by	by	ADP
dem-2899	36	2	sunspots	sunspot	NOUN
dem-2899	36	3	we	we	PRON
dem-2899	36	4	refer	refer	VERB
dem-2899	36	5	to	to	ADP
dem-2899	36	6	extrinsic	extrinsic	ADJ
dem-2899	36	7	variables	variable	NOUN
dem-2899	36	8	in	in	ADP
dem-2899	36	9	the	the	DET
dem-2899	36	10	way	way	NOUN
dem-2899	36	11	that	that	PRON
dem-2899	36	12	contagion	contagion	NOUN
dem-2899	36	13	is	be	AUX
dem-2899	36	14	neither	neither	PRON
dem-2899	36	15	caused	cause	VERB
dem-2899	36	16	by	by	ADP
dem-2899	36	17	the	the	DET
dem-2899	36	18	fundamentals	fundamental	NOUN
dem-2899	36	19	deterioration	deterioration	NOUN
dem-2899	36	20	nor	nor	CCONJ
dem-2899	36	21	by	by	ADP
dem-2899	36	22	trade	trade	NOUN
dem-2899	36	23	relationships	relationship	NOUN
dem-2899	36	24	.	.	PUNCT
dem-2899	37	1	moreover	moreover	ADV
dem-2899	37	2	,	,	PUNCT
dem-2899	37	3	the	the	DET
dem-2899	37	4	models	model	NOUN
dem-2899	37	5	for	for	ADP
dem-2899	37	6	scds	scds	NOUN
dem-2899	37	7	with	with	ADP
dem-2899	37	8	macro	macro	NOUN
dem-2899	37	9	-	-	NOUN
dem-2899	37	10	factors	factor	NOUN
dem-2899	37	11	as	as	SCONJ
dem-2899	37	12	the	the	DET
dem-2899	37	13	explanatory	explanatory	ADJ
dem-2899	37	14	variables	variable	NOUN
dem-2899	37	15	are	be	AUX
dem-2899	37	16	usually	usually	ADV
dem-2899	37	17	capable	capable	ADJ
dem-2899	37	18	of	of	ADP
dem-2899	37	19	explaining	explain	VERB
dem-2899	37	20	about	about	ADP
dem-2899	37	21	50	50	NUM
dem-2899	37	22	%	%	NOUN
dem-2899	37	23	of	of	ADP
dem-2899	37	24	the	the	DET
dem-2899	37	25	scds	scds	NOUN
dem-2899	37	26	dynamics	dynamic	NOUN
dem-2899	37	27	(	(	PUNCT
dem-2899	37	28	see	see	VERB
dem-2899	37	29	e.g.	e.g.	ADV
dem-2899	37	30	plank	plank	NOUN
dem-2899	37	31	,	,	PUNCT
dem-2899	37	32	2010	2010	NUM
dem-2899	37	33	)	)	PUNCT
dem-2899	37	34	.	.	PUNCT
dem-2899	38	1	in	in	ADP
dem-2899	38	2	the	the	DET
dem-2899	38	3	case	case	NOUN
dem-2899	38	4	of	of	ADP
dem-2899	38	5	the	the	DET
dem-2899	38	6	polish	polish	ADJ
dem-2899	38	7	market	market	NOUN
dem-2899	38	8	such	such	DET
dem-2899	38	9	a	a	DET
dem-2899	38	10	model	model	NOUN
dem-2899	38	11	is	be	AUX
dem-2899	38	12	presented	present	VERB
dem-2899	38	13	in	in	ADP
dem-2899	38	14	kliber	kliber	PROPN
dem-2899	38	15	(	(	PUNCT
dem-2899	38	16	2013b	2013b	NUM
dem-2899	38	17	)	)	PUNCT
dem-2899	38	18	,	,	PUNCT
dem-2899	38	19	where	where	SCONJ
dem-2899	38	20	the	the	DET
dem-2899	38	21	monthly	monthly	ADJ
dem-2899	38	22	dynamics	dynamic	NOUN
dem-2899	38	23	of	of	ADP
dem-2899	38	24	scds	scds	NOUN
dem-2899	38	25	premium	premium	NOUN
dem-2899	38	26	is	be	AUX
dem-2899	38	27	explained	explain	VERB
dem-2899	38	28	by	by	ADP
dem-2899	38	29	the	the	DET
dem-2899	38	30	macro	macro	NOUN
dem-2899	38	31	-	-	NOUN
dem-2899	38	32	data	data	NOUN
dem-2899	38	33	of	of	ADP
dem-2899	38	34	monthly	monthly	ADJ
dem-2899	38	35	frequency	frequency	NOUN
dem-2899	38	36	.	.	PUNCT
dem-2899	39	1	in	in	ADP
dem-2899	39	2	the	the	DET
dem-2899	39	3	literature	literature	NOUN
dem-2899	39	4	scds	scds	NOUN
dem-2899	39	5	spreads	spread	NOUN
dem-2899	39	6	are	be	AUX
dem-2899	39	7	highly	highly	ADV
dem-2899	39	8	related	related	ADJ
dem-2899	39	9	to	to	ADP
dem-2899	39	10	bond	bond	NOUN
dem-2899	39	11	spreads	spread	NOUN
dem-2899	39	12	and	and	CCONJ
dem-2899	39	13	stock	stock	NOUN
dem-2899	39	14	prices	price	NOUN
dem-2899	39	15	.	.	PUNCT
dem-2899	40	1	giannikos	giannikos	ADV
dem-2899	40	2	et	et	PROPN
dem-2899	40	3	al	al	PROPN
dem-2899	40	4	.	.	PROPN
dem-2899	41	1	(	(	PUNCT
dem-2899	41	2	2013	2013	NUM
dem-2899	41	3	)	)	PUNCT
dem-2899	41	4	find	find	VERB
dem-2899	41	5	that	that	SCONJ
dem-2899	41	6	cds	cd	NOUN
dem-2899	41	7	market	market	NOUN
dem-2899	41	8	dominates	dominate	VERB
dem-2899	41	9	other	other	ADJ
dem-2899	41	10	markets	market	NOUN
dem-2899	41	11	in	in	ADP
dem-2899	41	12	terms	term	NOUN
dem-2899	41	13	of	of	ADP
dem-2899	41	14	price	price	NOUN
dem-2899	41	15	discovery	discovery	NOUN
dem-2899	41	16	and	and	CCONJ
dem-2899	41	17	that	that	SCONJ
dem-2899	41	18	the	the	DET
dem-2899	41	19	role	role	NOUN
dem-2899	41	20	of	of	ADP
dem-2899	41	21	stock	stock	NOUN
dem-2899	41	22	market	market	NOUN
dem-2899	41	23	diminishes	diminish	VERB
dem-2899	41	24	during	during	ADP
dem-2899	41	25	the	the	DET
dem-2899	41	26	financial	financial	ADJ
dem-2899	41	27	crisis	crisis	NOUN
dem-2899	41	28	.	.	PUNCT
dem-2899	42	1	as	as	ADP
dem-2899	42	2	in	in	ADP
dem-2899	42	3	case	case	NOUN
dem-2899	42	4	of	of	ADP
dem-2899	42	5	all	all	DET
dem-2899	42	6	other	other	ADJ
dem-2899	42	7	financial	financial	ADJ
dem-2899	42	8	instruments	instrument	NOUN
dem-2899	42	9	,	,	PUNCT
dem-2899	42	10	the	the	DET
dem-2899	42	11	scds	scds	PROPN
dem-2899	42	12	premia	premia	PROPN
dem-2899	42	13	may	may	AUX
dem-2899	42	14	be	be	AUX
dem-2899	42	15	also	also	ADV
dem-2899	42	16	vulnerable	vulnerable	ADJ
dem-2899	42	17	to	to	ADP
dem-2899	42	18	the	the	DET
dem-2899	42	19	macroeconomic	macroeconomic	ADJ
dem-2899	42	20	events	event	NOUN
dem-2899	42	21	from	from	ADP
dem-2899	42	22	the	the	DET
dem-2899	42	23	american	american	ADJ
dem-2899	42	24	economy	economy	NOUN
dem-2899	42	25	(	(	PUNCT
dem-2899	42	26	longstaff	longstaff	PROPN
dem-2899	42	27	et	et	PROPN
dem-2899	42	28	al	al	PROPN
dem-2899	42	29	.	.	PROPN
dem-2899	42	30	,	,	PUNCT
dem-2899	42	31	2011	2011	NUM
dem-2899	42	32	)	)	PUNCT
dem-2899	42	33	.	.	PUNCT
dem-2899	43	1	however	however	ADV
dem-2899	43	2	macroeconomic	macroeconomic	ADJ
dem-2899	43	3	economic	economic	ADJ
dem-2899	43	4	situation	situation	NOUN
dem-2899	43	5	of	of	ADP
dem-2899	43	6	the	the	DET
dem-2899	43	7	country	country	NOUN
dem-2899	43	8	or	or	CCONJ
dem-2899	43	9	risk	risk	NOUN
dem-2899	43	10	in	in	ADP
dem-2899	43	11	the	the	DET
dem-2899	43	12	world	world	NOUN
dem-2899	43	13	financial	financial	ADJ
dem-2899	43	14	market	market	NOUN
dem-2899	43	15	?	?	PUNCT
dem-2899	43	16	...	...	PUNCT
dem-2899	44	1	dynamic	dynamic	ADJ
dem-2899	44	2	econometric	econometric	ADJ
dem-2899	44	3	models	model	NOUN
dem-2899	44	4	13	13	NUM
dem-2899	44	5	(	(	PUNCT
dem-2899	44	6	2013	2013	NUM
dem-2899	44	7	)	)	PUNCT
dem-2899	44	8	87–106	87–106	NUM
dem-2899	44	9	89	89	NUM
dem-2899	44	10	announcements	announcement	NOUN
dem-2899	44	11	constitute	constitute	VERB
dem-2899	44	12	only	only	ADV
dem-2899	44	13	a	a	DET
dem-2899	44	14	part	part	NOUN
dem-2899	44	15	of	of	ADP
dem-2899	44	16	all	all	DET
dem-2899	44	17	incoming	incoming	ADJ
dem-2899	44	18	information	information	NOUN
dem-2899	44	19	and	and	CCONJ
dem-2899	44	20	are	be	AUX
dem-2899	44	21	released	release	VERB
dem-2899	44	22	on	on	ADP
dem-2899	44	23	the	the	DET
dem-2899	44	24	monthly	monthly	ADJ
dem-2899	44	25	basis	basis	NOUN
dem-2899	44	26	.	.	PUNCT
dem-2899	45	1	lamoureux	lamoureux	PROPN
dem-2899	45	2	and	and	CCONJ
dem-2899	45	3	lastrapes	lastrape	NOUN
dem-2899	45	4	(	(	PUNCT
dem-2899	45	5	1990	1990	NUM
dem-2899	45	6	)	)	PUNCT
dem-2899	45	7	use	use	VERB
dem-2899	45	8	trading	trading	NOUN
dem-2899	45	9	volume	volume	NOUN
dem-2899	45	10	as	as	ADP
dem-2899	45	11	a	a	DET
dem-2899	45	12	proxy	proxy	NOUN
dem-2899	45	13	for	for	ADP
dem-2899	45	14	information	information	NOUN
dem-2899	45	15	arrival	arrival	NOUN
dem-2899	45	16	time	time	NOUN
dem-2899	45	17	.	.	PUNCT
dem-2899	46	1	as	as	SCONJ
dem-2899	46	2	trading	trading	NOUN
dem-2899	46	3	volume	volume	NOUN
dem-2899	46	4	is	be	AUX
dem-2899	46	5	observable	observable	ADJ
dem-2899	46	6	variable	variable	NOUN
dem-2899	46	7	it	it	PRON
dem-2899	46	8	may	may	AUX
dem-2899	46	9	well	well	ADV
dem-2899	46	10	provide	provide	VERB
dem-2899	46	11	an	an	DET
dem-2899	46	12	approximation	approximation	NOUN
dem-2899	46	13	of	of	ADP
dem-2899	46	14	inflow	inflow	NOUN
dem-2899	46	15	of	of	ADP
dem-2899	46	16	widely	widely	ADV
dem-2899	46	17	defined	define	VERB
dem-2899	46	18	information	information	NOUN
dem-2899	46	19	.	.	PUNCT
dem-2899	47	1	this	this	DET
dem-2899	47	2	paper	paper	NOUN
dem-2899	47	3	contributes	contribute	VERB
dem-2899	47	4	to	to	ADP
dem-2899	47	5	the	the	DET
dem-2899	47	6	existing	exist	VERB
dem-2899	47	7	literature	literature	NOUN
dem-2899	47	8	in	in	ADP
dem-2899	47	9	a	a	DET
dem-2899	47	10	few	few	ADJ
dem-2899	47	11	aspects	aspect	NOUN
dem-2899	47	12	.	.	PUNCT
dem-2899	48	1	first	first	ADV
dem-2899	48	2	of	of	ADP
dem-2899	48	3	all	all	PRON
dem-2899	48	4	,	,	PUNCT
dem-2899	48	5	we	we	PRON
dem-2899	48	6	focus	focus	VERB
dem-2899	48	7	on	on	ADP
dem-2899	48	8	the	the	DET
dem-2899	48	9	polish	polish	ADJ
dem-2899	48	10	financial	financial	ADJ
dem-2899	48	11	market	market	NOUN
dem-2899	48	12	,	,	PUNCT
dem-2899	48	13	which	which	PRON
dem-2899	48	14	is	be	AUX
dem-2899	48	15	usually	usually	ADV
dem-2899	48	16	neglected	neglect	VERB
dem-2899	48	17	in	in	ADP
dem-2899	48	18	literature	literature	NOUN
dem-2899	48	19	.	.	PUNCT
dem-2899	49	1	secondly	secondly	ADV
dem-2899	49	2	,	,	PUNCT
dem-2899	49	3	we	we	PRON
dem-2899	49	4	investigate	investigate	VERB
dem-2899	49	5	jointly	jointly	ADV
dem-2899	49	6	the	the	DET
dem-2899	49	7	influence	influence	NOUN
dem-2899	49	8	of	of	ADP
dem-2899	49	9	expectations	expectation	NOUN
dem-2899	49	10	and	and	CCONJ
dem-2899	49	11	fundamentals	fundamental	NOUN
dem-2899	49	12	in	in	ADP
dem-2899	49	13	sovereign	sovereign	ADJ
dem-2899	49	14	credit	credit	NOUN
dem-2899	49	15	default	default	NOUN
dem-2899	49	16	swap	swap	NOUN
dem-2899	49	17	pricing	pricing	NOUN
dem-2899	49	18	.	.	PUNCT
dem-2899	50	1	to	to	PART
dem-2899	50	2	examine	examine	VERB
dem-2899	50	3	this	this	DET
dem-2899	50	4	issue	issue	NOUN
dem-2899	50	5	we	we	PRON
dem-2899	50	6	consider	consider	VERB
dem-2899	50	7	proxies	proxy	NOUN
dem-2899	50	8	for	for	ADP
dem-2899	50	9	domestic	domestic	ADJ
dem-2899	50	10	as	as	ADV
dem-2899	50	11	well	well	ADV
dem-2899	50	12	as	as	ADP
dem-2899	50	13	outside	outside	ADP
dem-2899	50	14	-	-	PUNCT
dem-2899	50	15	the	the	DET
dem-2899	50	16	-	-	PUNCT
dem-2899	50	17	country	country	NOUN
dem-2899	50	18	“	"	PUNCT
dem-2899	50	19	fundamentals	fundamental	NOUN
dem-2899	50	20	”	"	PUNCT
dem-2899	50	21	and	and	CCONJ
dem-2899	50	22	we	we	PRON
dem-2899	50	23	study	study	VERB
dem-2899	50	24	also	also	ADV
dem-2899	50	25	the	the	DET
dem-2899	50	26	impact	impact	NOUN
dem-2899	50	27	of	of	ADP
dem-2899	50	28	selected	select	VERB
dem-2899	50	29	american	american	ADJ
dem-2899	50	30	macroeconomic	macroeconomic	ADJ
dem-2899	50	31	announcements	announcement	NOUN
dem-2899	50	32	together	together	ADV
dem-2899	50	33	with	with	ADP
dem-2899	50	34	information	information	NOUN
dem-2899	50	35	inflow	inflow	NOUN
dem-2899	50	36	measure	measure	NOUN
dem-2899	50	37	.	.	PUNCT
dem-2899	51	1	we	we	PRON
dem-2899	51	2	focus	focus	VERB
dem-2899	51	3	our	our	PRON
dem-2899	51	4	study	study	NOUN
dem-2899	51	5	on	on	ADP
dem-2899	51	6	constructing	construct	VERB
dem-2899	51	7	a	a	DET
dem-2899	51	8	model	model	NOUN
dem-2899	51	9	where	where	SCONJ
dem-2899	51	10	the	the	DET
dem-2899	51	11	explanatory	explanatory	ADJ
dem-2899	51	12	variables	variable	NOUN
dem-2899	51	13	could	could	AUX
dem-2899	51	14	be	be	AUX
dem-2899	51	15	of	of	ADP
dem-2899	51	16	daily	daily	ADJ
dem-2899	51	17	frequency	frequency	NOUN
dem-2899	51	18	and	and	CCONJ
dem-2899	51	19	simultaneously	simultaneously	ADV
dem-2899	51	20	account	account	VERB
dem-2899	51	21	for	for	ADP
dem-2899	51	22	the	the	DET
dem-2899	51	23	economic	economic	ADJ
dem-2899	51	24	condition	condition	NOUN
dem-2899	51	25	of	of	ADP
dem-2899	51	26	the	the	DET
dem-2899	51	27	country	country	NOUN
dem-2899	51	28	.	.	PUNCT
dem-2899	52	1	we	we	PRON
dem-2899	52	2	examine	examine	VERB
dem-2899	52	3	whether	whether	SCONJ
dem-2899	52	4	the	the	DET
dem-2899	52	5	polish	polish	ADJ
dem-2899	52	6	scds	scds	NOUN
dem-2899	52	7	premia	premia	PROPN
dem-2899	52	8	could	could	AUX
dem-2899	52	9	be	be	AUX
dem-2899	52	10	treated	treat	VERB
dem-2899	52	11	as	as	ADP
dem-2899	52	12	an	an	DET
dem-2899	52	13	indicator	indicator	NOUN
dem-2899	52	14	of	of	ADP
dem-2899	52	15	the	the	DET
dem-2899	52	16	true	true	ADJ
dem-2899	52	17	risk	risk	NOUN
dem-2899	52	18	of	of	ADP
dem-2899	52	19	polish	polish	ADJ
dem-2899	52	20	economy	economy	NOUN
dem-2899	52	21	.	.	PUNCT
dem-2899	53	1	the	the	DET
dem-2899	53	2	remainder	remainder	NOUN
dem-2899	53	3	of	of	ADP
dem-2899	53	4	the	the	DET
dem-2899	53	5	paper	paper	NOUN
dem-2899	53	6	is	be	AUX
dem-2899	53	7	structured	structure	VERB
dem-2899	53	8	as	as	SCONJ
dem-2899	53	9	follows	follow	VERB
dem-2899	53	10	:	:	PUNCT
dem-2899	53	11	in	in	ADP
dem-2899	53	12	section	section	NOUN
dem-2899	53	13	1	1	NUM
dem-2899	53	14	we	we	PRON
dem-2899	53	15	show	show	VERB
dem-2899	53	16	how	how	SCONJ
dem-2899	53	17	fundamentals	fundamental	NOUN
dem-2899	53	18	influence	influence	VERB
dem-2899	53	19	the	the	DET
dem-2899	53	20	scds	scds	NOUN
dem-2899	53	21	spreads	spread	VERB
dem-2899	53	22	,	,	PUNCT
dem-2899	53	23	in	in	ADP
dem-2899	53	24	section	section	NOUN
dem-2899	53	25	2	2	NUM
dem-2899	53	26	we	we	PRON
dem-2899	53	27	focus	focus	VERB
dem-2899	53	28	on	on	ADP
dem-2899	53	29	role	role	NOUN
dem-2899	53	30	of	of	ADP
dem-2899	53	31	expectations	expectation	NOUN
dem-2899	53	32	in	in	ADP
dem-2899	53	33	scds	scds	ADJ
dem-2899	53	34	pricing	pricing	NOUN
dem-2899	53	35	,	,	PUNCT
dem-2899	53	36	while	while	SCONJ
dem-2899	53	37	in	in	ADP
dem-2899	53	38	section	section	NOUN
dem-2899	53	39	3	3	NUM
dem-2899	53	40	we	we	PRON
dem-2899	53	41	concentrate	concentrate	VERB
dem-2899	53	42	on	on	ADP
dem-2899	53	43	the	the	DET
dem-2899	53	44	impact	impact	NOUN
dem-2899	53	45	of	of	ADP
dem-2899	53	46	macroeconomic	macroeconomic	ADJ
dem-2899	53	47	announcements	announcement	NOUN
dem-2899	53	48	.	.	PUNCT
dem-2899	54	1	we	we	PRON
dem-2899	54	2	consider	consider	VERB
dem-2899	54	3	polish	polish	ADJ
dem-2899	54	4	scds	scds	NOUN
dem-2899	54	5	of	of	ADP
dem-2899	54	6	5	5	NUM
dem-2899	54	7	years	year	NOUN
dem-2899	54	8	maturity	maturity	NOUN
dem-2899	54	9	over	over	ADP
dem-2899	54	10	the	the	DET
dem-2899	54	11	period	period	NOUN
dem-2899	54	12	march	march	PROPN
dem-2899	54	13	1	1	NUM
dem-2899	54	14	,	,	PUNCT
dem-2899	54	15	2008	2008	NUM
dem-2899	54	16	to	to	ADP
dem-2899	54	17	may	may	PROPN
dem-2899	54	18	31	31	NUM
dem-2899	54	19	,	,	PUNCT
dem-2899	54	20	2013	2013	NUM
dem-2899	54	21	.	.	PUNCT
dem-2899	55	1	1	1	NUM
dem-2899	55	2	.	.	PUNCT
dem-2899	55	3	interactions	interaction	NOUN
dem-2899	55	4	of	of	ADP
dem-2899	55	5	the	the	DET
dem-2899	55	6	scds	scds	NOUN
dem-2899	55	7	spread	spread	VERB
dem-2899	55	8	with	with	ADP
dem-2899	55	9	variables	variable	NOUN
dem-2899	55	10	representing	represent	VERB
dem-2899	55	11	the	the	DET
dem-2899	55	12	economic	economic	ADJ
dem-2899	55	13	situation	situation	NOUN
dem-2899	55	14	of	of	ADP
dem-2899	55	15	the	the	DET
dem-2899	55	16	country	country	NOUN
dem-2899	55	17	(	(	PUNCT
dem-2899	55	18	var	var	NOUN
dem-2899	55	19	-	-	PUNCT
dem-2899	55	20	dcc	dcc	PROPN
dem-2899	55	21	model	model	NOUN
dem-2899	55	22	)	)	PUNCT
dem-2899	55	23	based	base	VERB
dem-2899	55	24	upon	upon	SCONJ
dem-2899	55	25	the	the	DET
dem-2899	55	26	findings	finding	NOUN
dem-2899	55	27	in	in	ADP
dem-2899	55	28	the	the	DET
dem-2899	55	29	literature	literature	NOUN
dem-2899	55	30	we	we	PRON
dem-2899	55	31	decided	decide	VERB
dem-2899	55	32	to	to	PART
dem-2899	55	33	include	include	VERB
dem-2899	55	34	in	in	ADP
dem-2899	55	35	our	our	PRON
dem-2899	55	36	dataset	dataset	NOUN
dem-2899	55	37	the	the	DET
dem-2899	55	38	following	following	ADJ
dem-2899	55	39	variables	variable	NOUN
dem-2899	55	40	:	:	PUNCT
dem-2899	55	41	bond	bond	NOUN
dem-2899	55	42	spreads	spread	NOUN
dem-2899	55	43	,	,	PUNCT
dem-2899	55	44	exchange	exchange	NOUN
dem-2899	55	45	rate	rate	NOUN
dem-2899	55	46	,	,	PUNCT
dem-2899	55	47	stock	stock	NOUN
dem-2899	55	48	-	-	PUNCT
dem-2899	55	49	exchange	exchange	NOUN
dem-2899	55	50	index	index	NOUN
dem-2899	55	51	and	and	CCONJ
dem-2899	55	52	trading	trading	NOUN
dem-2899	55	53	volume	volume	NOUN
dem-2899	55	54	of	of	ADP
dem-2899	55	55	the	the	DET
dem-2899	55	56	index	index	NOUN
dem-2899	55	57	as	as	ADP
dem-2899	55	58	a	a	DET
dem-2899	55	59	proxy	proxy	NOUN
dem-2899	55	60	for	for	ADP
dem-2899	55	61	incoming	incoming	ADJ
dem-2899	55	62	information	information	NOUN
dem-2899	55	63	.	.	PUNCT
dem-2899	56	1	we	we	PRON
dem-2899	56	2	are	be	AUX
dem-2899	56	3	aware	aware	ADJ
dem-2899	56	4	of	of	ADP
dem-2899	56	5	the	the	DET
dem-2899	56	6	fact	fact	NOUN
dem-2899	56	7	that	that	SCONJ
dem-2899	56	8	the	the	DET
dem-2899	56	9	variables	variable	NOUN
dem-2899	56	10	should	should	AUX
dem-2899	56	11	not	not	PART
dem-2899	56	12	be	be	AUX
dem-2899	56	13	considered	consider	VERB
dem-2899	56	14	as	as	SCONJ
dem-2899	56	15	fundamentals	fundamental	NOUN
dem-2899	56	16	sensu	sensu	NOUN
dem-2899	56	17	stricto	stricto	X
dem-2899	56	18	,	,	PUNCT
dem-2899	56	19	since	since	SCONJ
dem-2899	56	20	they	they	PRON
dem-2899	56	21	themselves	themselves	PRON
dem-2899	56	22	are	be	AUX
dem-2899	56	23	prone	prone	ADJ
dem-2899	56	24	to	to	ADP
dem-2899	56	25	sunspot	sunspot	NOUN
dem-2899	56	26	and	and	CCONJ
dem-2899	56	27	expectations	expectation	NOUN
dem-2899	56	28	.	.	PUNCT
dem-2899	57	1	however	however	ADV
dem-2899	57	2	,	,	PUNCT
dem-2899	57	3	taking	take	VERB
dem-2899	57	4	into	into	ADP
dem-2899	57	5	account	account	NOUN
dem-2899	57	6	data	datum	NOUN
dem-2899	57	7	of	of	ADP
dem-2899	57	8	monthly	monthly	ADJ
dem-2899	57	9	frequency	frequency	NOUN
dem-2899	57	10	inevitably	inevitably	ADV
dem-2899	57	11	would	would	AUX
dem-2899	57	12	result	result	VERB
dem-2899	57	13	in	in	ADP
dem-2899	57	14	loss	loss	NOUN
dem-2899	57	15	of	of	ADP
dem-2899	57	16	information	information	NOUN
dem-2899	57	17	about	about	ADP
dem-2899	57	18	scds	scds	NOUN
dem-2899	57	19	dynamics	dynamic	NOUN
dem-2899	57	20	,	,	PUNCT
dem-2899	57	21	since	since	SCONJ
dem-2899	57	22	the	the	DET
dem-2899	57	23	latter	latter	ADJ
dem-2899	57	24	are	be	AUX
dem-2899	57	25	traded	trade	VERB
dem-2899	57	26	daily	daily	ADV
dem-2899	57	27	.	.	PUNCT
dem-2899	58	1	such	such	DET
dem-2899	58	2	an	an	DET
dem-2899	58	3	approach	approach	NOUN
dem-2899	58	4	was	be	AUX
dem-2899	58	5	proposed	propose	VERB
dem-2899	58	6	in	in	ADP
dem-2899	58	7	kliber	kliber	PROPN
dem-2899	58	8	(	(	PUNCT
dem-2899	58	9	2013b	2013b	NUM
dem-2899	58	10	)	)	PUNCT
dem-2899	58	11	–	–	PUNCT
dem-2899	58	12	the	the	DET
dem-2899	58	13	author	author	NOUN
dem-2899	58	14	tested	test	VERB
dem-2899	58	15	vulnerability	vulnerability	NOUN
dem-2899	58	16	of	of	ADP
dem-2899	58	17	monthly	monthly	ADJ
dem-2899	58	18	scds	scds	NOUN
dem-2899	58	19	changes	change	NOUN
dem-2899	58	20	and	and	CCONJ
dem-2899	58	21	volatility	volatility	NOUN
dem-2899	58	22	to	to	ADP
dem-2899	58	23	the	the	DET
dem-2899	58	24	changes	change	NOUN
dem-2899	58	25	of	of	ADP
dem-2899	58	26	such	such	ADJ
dem-2899	58	27	quantities	quantity	NOUN
dem-2899	58	28	as	as	ADP
dem-2899	58	29	:	:	PUNCT
dem-2899	58	30	unemployment	unemployment	NOUN
dem-2899	58	31	,	,	PUNCT
dem-2899	58	32	real	real	ADJ
dem-2899	58	33	wages	wage	NOUN
dem-2899	58	34	,	,	PUNCT
dem-2899	58	35	government	government	NOUN
dem-2899	58	36	earnings	earning	NOUN
dem-2899	58	37	and	and	CCONJ
dem-2899	58	38	expenditures	expenditure	NOUN
dem-2899	58	39	,	,	PUNCT
dem-2899	58	40	import	import	NOUN
dem-2899	58	41	,	,	PUNCT
dem-2899	58	42	export	export	NOUN
dem-2899	58	43	,	,	PUNCT
dem-2899	58	44	inflation	inflation	NOUN
dem-2899	58	45	,	,	PUNCT
dem-2899	58	46	terms	term	NOUN
dem-2899	58	47	of	of	ADP
dem-2899	58	48	trade	trade	NOUN
dem-2899	58	49	,	,	PUNCT
dem-2899	58	50	internal	internal	ADJ
dem-2899	58	51	and	and	CCONJ
dem-2899	58	52	external	external	ADJ
dem-2899	58	53	debt	debt	NOUN
dem-2899	58	54	.	.	PUNCT
dem-2899	59	1	the	the	DET
dem-2899	59	2	models	model	NOUN
dem-2899	59	3	were	be	AUX
dem-2899	59	4	able	able	ADJ
dem-2899	59	5	to	to	PART
dem-2899	59	6	explain	explain	VERB
dem-2899	59	7	about	about	ADP
dem-2899	59	8	50	50	NUM
dem-2899	59	9	%	%	NOUN
dem-2899	59	10	of	of	ADP
dem-2899	59	11	the	the	DET
dem-2899	59	12	scds	scds	NOUN
dem-2899	59	13	variability	variability	NOUN
dem-2899	59	14	.	.	PUNCT
dem-2899	60	1	this	this	DET
dem-2899	60	2	result	result	NOUN
dem-2899	60	3	is	be	AUX
dem-2899	60	4	similar	similar	ADJ
dem-2899	60	5	to	to	ADP
dem-2899	60	6	ones	one	NOUN
dem-2899	60	7	documented	document	VERB
dem-2899	60	8	for	for	ADP
dem-2899	60	9	another	another	DET
dem-2899	60	10	economies	economy	NOUN
dem-2899	60	11	(	(	PUNCT
dem-2899	60	12	see	see	VERB
dem-2899	60	13	eg	eg	NOUN
dem-2899	60	14	.	.	PUNCT
dem-2899	61	1	longstaff	longstaff	PROPN
dem-2899	61	2	et	et	PROPN
dem-2899	61	3	al	al	PROPN
dem-2899	61	4	.	.	PROPN
dem-2899	61	5	,	,	PUNCT
dem-2899	61	6	2011	2011	NUM
dem-2899	61	7	)	)	PUNCT
dem-2899	61	8	.	.	PUNCT
dem-2899	62	1	thus	thus	ADV
dem-2899	62	2	,	,	PUNCT
dem-2899	62	3	we	we	PRON
dem-2899	62	4	decided	decide	VERB
dem-2899	62	5	to	to	PART
dem-2899	62	6	use	use	VERB
dem-2899	62	7	data	datum	NOUN
dem-2899	62	8	of	of	ADP
dem-2899	62	9	daily	daily	ADJ
dem-2899	62	10	frequency	frequency	NOUN
dem-2899	62	11	dynamic	dynamic	ADJ
dem-2899	62	12	90	90	NUM
dem-2899	62	13	that	that	PRON
dem-2899	62	14	refl	refl	VERB
dem-2899	62	15	imperfe	imperfe	NOUN
dem-2899	62	16	the	the	DET
dem-2899	62	17	the	the	DET
dem-2899	62	18	cei	cei	NOUN
dem-2899	62	19	yield	yield	NOUN
dem-2899	62	20	of	of	ADP
dem-2899	62	21	of	of	ADP
dem-2899	62	22	the	the	DET
dem-2899	62	23	lo	lo	PROPN
dem-2899	62	24	german	german	NOUN
dem-2899	62	25	the	the	DET
dem-2899	62	26	yield	yield	NOUN
dem-2899	62	27	(	(	PUNCT
dem-2899	62	28	see	see	VERB
dem-2899	62	29	fig	fig	NOUN
dem-2899	62	30	figure	figure	NOUN
dem-2899	62	31	1	1	NUM
dem-2899	62	32	sinc	sinc	PROPN
dem-2899	62	33	scds	scds	PROPN
dem-2899	62	34	s	s	PART
dem-2899	62	35	eventua	eventua	NOUN
dem-2899	62	36	polish	polish	NOUN
dem-2899	62	37	s	s	AUX
dem-2899	62	38	preted	prete	VERB
dem-2899	62	39	a	a	DET
dem-2899	62	40	let	let	NOUN
dem-2899	62	41	are	be	AUX
dem-2899	62	42	pron	pron	ADJ
dem-2899	62	43	variable	variable	ADJ
dem-2899	62	44	evolutio	evolutio	PROPN
dem-2899	62	45	german	german	PROPN
dem-2899	62	46	sinc	sinc	PROPN
dem-2899	62	47	of	of	ADP
dem-2899	62	48	them	they	PRON
dem-2899	62	49	tained	taine	VERB
dem-2899	62	50	.	.	PUNCT
dem-2899	63	1	f	f	PROPN
dem-2899	63	2	mean	mean	VERB
dem-2899	63	3	,	,	PUNCT
dem-2899	63	4	a	a	DET
dem-2899	63	5	–	–	PUNCT
dem-2899	63	6	dcc	dcc	PROPN
dem-2899	63	7	(	(	PUNCT
dem-2899	63	8	details	detail	NOUN
dem-2899	63	9	)	)	PUNCT
dem-2899	63	10	.	.	PUNCT
dem-2899	64	1	econometric	econometric	PROPN
dem-2899	64	2	lect	lect	PROPN
dem-2899	64	3	the	the	DET
dem-2899	64	4	chan	chan	PROPN
dem-2899	64	5	ections	ection	NOUN
dem-2899	64	6	.	.	PUNCT
dem-2899	65	1	e	e	NOUN
dem-2899	65	2	data	datum	NOUN
dem-2899	65	3	used	use	VERB
dem-2899	65	4	i	i	PRON
dem-2899	65	5	ic	ic	PROPN
dem-2899	65	6	database	database	VERB
dem-2899	65	7	.	.	PUNCT
dem-2899	66	1	f	f	PROPN
dem-2899	67	1	the	the	DET
dem-2899	67	2	given	give	VERB
dem-2899	67	3	co	co	NOUN
dem-2899	67	4	owest	owest	ADJ
dem-2899	67	5	risk	risk	NOUN
dem-2899	67	6	in	in	ADP
dem-2899	67	7	n	n	PRON
dem-2899	67	8	bonds	bond	NOUN
dem-2899	67	9	are	be	AUX
dem-2899	67	10	d	d	NOUN
dem-2899	67	11	of	of	ADP
dem-2899	67	12	10	10	NUM
dem-2899	67	13	-	-	PUNCT
dem-2899	67	14	year	year	NOUN
dem-2899	67	15	gure	gure	NOUN
dem-2899	67	16	1	1	NUM
dem-2899	67	17	)	)	PUNCT
dem-2899	67	18	.	.	PUNCT
dem-2899	67	19	.	.	PUNCT
dem-2899	68	1	polish	polish	PROPN
dem-2899	68	2	scd	scd	PROPN
dem-2899	68	3	turity	turity	PROPN
dem-2899	68	4	)	)	PUNCT
dem-2899	68	5	ce	ce	PROPN
dem-2899	68	6	it	it	PRON
dem-2899	68	7	is	be	AUX
dem-2899	68	8	said	say	VERB
dem-2899	68	9	spread	spread	VERB
dem-2899	68	10	the	the	DET
dem-2899	68	11	m	m	NOUN
dem-2899	68	12	ally	ally	NOUN
dem-2899	69	1	,	,	PUNCT
dem-2899	69	2	we	we	PRON
dem-2899	69	3	take	take	VERB
dem-2899	69	4	stock	stock	NOUN
dem-2899	69	5	exchan	exchan	PROPN
dem-2899	69	6	as	as	ADP
dem-2899	69	7	a	a	DET
dem-2899	69	8	proxy	proxy	NOUN
dem-2899	69	9	of	of	ADP
dem-2899	69	10	us	we	PRON
dem-2899	69	11	stress	stress	VERB
dem-2899	69	12	on	on	ADP
dem-2899	69	13	ne	ne	PROPN
dem-2899	69	14	to	to	ADP
dem-2899	69	15	volatil	volatil	NOUN
dem-2899	69	16	es	es	ADP
dem-2899	69	17	the	the	DET
dem-2899	69	18	most	most	ADV
dem-2899	69	19	on	on	ADP
dem-2899	69	20	of	of	ADP
dem-2899	69	21	the	the	DET
dem-2899	69	22	risk	risk	NOUN
dem-2899	69	23	n	n	NOUN
dem-2899	69	24	bonds	bond	NOUN
dem-2899	69	25	.	.	PUNCT
dem-2899	70	1	ce	ce	PROPN
dem-2899	70	2	all	all	PRON
dem-2899	70	3	of	of	ADP
dem-2899	70	4	the	the	DET
dem-2899	70	5	m.	m.	NOUN
dem-2899	70	6	the	the	DET
dem-2899	70	7	only	only	ADJ
dem-2899	70	8	e	e	NOUN
dem-2899	70	9	first	first	ADV
dem-2899	70	10	,	,	PUNCT
dem-2899	70	11	we	we	PRON
dem-2899	70	12	run	run	VERB
dem-2899	70	13	and	and	CCONJ
dem-2899	70	14	in	in	ADP
dem-2899	70	15	the	the	DET
dem-2899	70	16	se	se	X
dem-2899	70	17	(	(	PUNCT
dem-2899	70	18	1,1,1,1	1,1,1,1	NUM
dem-2899	70	19	)	)	PUNCT
dem-2899	70	20	of	of	ADP
dem-2899	70	21	e	e	PROPN
dem-2899	70	22	.	.	PUNCT
dem-2899	71	1	table	table	NOUN
dem-2899	71	2	1	1	NUM
dem-2899	71	3	pre	pre	NOUN
dem-2899	71	4	agata	agata	PROPN
dem-2899	71	5	klibe	klibe	PROPN
dem-2899	71	6	c	c	PROPN
dem-2899	71	7	models	model	NOUN
dem-2899	71	8	13	13	NUM
dem-2899	71	9	(	(	PUNCT
dem-2899	71	10	2	2	NUM
dem-2899	71	11	ges	ge	NOUN
dem-2899	71	12	of	of	ADP
dem-2899	71	13	econo	econo	PROPN
dem-2899	71	14	in	in	ADP
dem-2899	71	15	the	the	DET
dem-2899	71	16	study	study	NOUN
dem-2899	71	17	bond	bond	NOUN
dem-2899	71	18	sprea	sprea	PROPN
dem-2899	71	19	ountry	ountry	PROPN
dem-2899	71	20	’s	’s	PART
dem-2899	71	21	bon	bon	PROPN
dem-2899	71	22	n	n	CCONJ
dem-2899	71	23	the	the	DET
dem-2899	71	24	region	region	NOUN
dem-2899	71	25	(	(	PUNCT
dem-2899	71	26	considered	consider	VERB
dem-2899	71	27	.	.	PUNCT
dem-2899	72	1	rs	rs	INTJ
dem-2899	72	2	german	german	ADJ
dem-2899	72	3	bo	bo	PROPN
dem-2899	72	4	s	s	PRON
dem-2899	72	5	spread	spread	NOUN
dem-2899	72	6	(	(	PUNCT
dem-2899	72	7	5	5	NUM
dem-2899	72	8	y	y	SYM
dem-2899	72	9	d	d	PROPN
dem-2899	72	10	,	,	PUNCT
dem-2899	72	11	that	that	SCONJ
dem-2899	72	12	the	the	DET
dem-2899	72	13	e	e	NOUN
dem-2899	72	14	most	most	ADV
dem-2899	72	15	,	,	PUNCT
dem-2899	72	16	as	as	ADP
dem-2899	72	17	an	an	DET
dem-2899	72	18	e	e	NOUN
dem-2899	72	19	into	into	ADP
dem-2899	72	20	accoun	accoun	PROPN
dem-2899	72	21	nge	nge	PROPN
dem-2899	72	22	,	,	PUNCT
dem-2899	72	23	as	as	ADV
dem-2899	72	24	well	well	ADV
dem-2899	72	25	f	f	NOUN
dem-2899	72	26	the	the	DET
dem-2899	72	27	informa	informa	PROPN
dem-2899	72	28	ce	ce	PROPN
dem-2899	72	29	again	again	ADV
dem-2899	72	30	,	,	PUNCT
dem-2899	72	31	tha	tha	DET
dem-2899	72	32	lity	lity	NOUN
dem-2899	72	33	transmis	transmis	PROPN
dem-2899	72	34	immune	immune	PROPN
dem-2899	72	35	see	see	VERB
dem-2899	72	36	k	k	PROPN
dem-2899	72	37	of	of	ADP
dem-2899	72	38	polish	polish	PROPN
dem-2899	72	39	t	t	PROPN
dem-2899	72	40	variables	variable	NOUN
dem-2899	72	41	are	be	AUX
dem-2899	72	42	exception	exception	NOUN
dem-2899	72	43	is	be	AUX
dem-2899	72	44	n	n	PRON
dem-2899	72	45	the	the	DET
dem-2899	72	46	var	var	NOUN
dem-2899	72	47	m	m	PROPN
dem-2899	72	48	cond	cond	NOUN
dem-2899	72	49	step	step	NOUN
dem-2899	72	50	,	,	PUNCT
dem-2899	72	51	w	w	PROPN
dem-2899	72	52	engle	engle	PROPN
dem-2899	72	53	(	(	PUNCT
dem-2899	72	54	2002	2002	NUM
dem-2899	72	55	)	)	PUNCT
dem-2899	72	56	esents	esent	VERB
dem-2899	72	57	the	the	DET
dem-2899	72	58	re	re	X
dem-2899	72	59	er	er	INTJ
dem-2899	72	60	,	,	PUNCT
dem-2899	72	61	barbara	barbara	PROPN
dem-2899	72	62	będ	będ	PROPN
dem-2899	72	63	2013	2013	NUM
dem-2899	72	64	)	)	PUNCT
dem-2899	73	1	87–106	87–106	NUM
dem-2899	73	2	omic	omic	ADJ
dem-2899	73	3	situatio	situatio	NOUN
dem-2899	73	4	comes	come	VERB
dem-2899	73	5	from	from	ADP
dem-2899	73	6	ad	ad	NOUN
dem-2899	73	7	is	be	AUX
dem-2899	73	8	compu	compu	PROPN
dem-2899	73	9	nds	nds	PROPN
dem-2899	73	10	and	and	CCONJ
dem-2899	73	11	the	the	DET
dem-2899	73	12	y	y	PROPN
dem-2899	73	13	(	(	PUNCT
dem-2899	73	14	see	see	AUX
dem-2899	73	15	e.g.	e.g.	ADV
dem-2899	73	16	cou	cou	NOUN
dem-2899	73	17	thus	thus	ADV
dem-2899	73	18	,	,	PUNCT
dem-2899	73	19	we	we	PRON
dem-2899	73	20	ca	can	AUX
dem-2899	73	21	onds	ond	VERB
dem-2899	73	22	from	from	ADP
dem-2899	73	23	th	th	NUM
dem-2899	73	24	years	year	NOUN
dem-2899	73	25	maturity	maturity	NOUN
dem-2899	73	26	vents	vent	NOUN
dem-2899	73	27	from	from	ADP
dem-2899	73	28	exchange	exchange	NOUN
dem-2899	73	29	ra	ra	PROPN
dem-2899	73	30	nt	not	PART
dem-2899	73	31	wig	wig	AUX
dem-2899	73	32	inde	inde	PROPN
dem-2899	73	33	as	as	ADP
dem-2899	73	34	its	its	PRON
dem-2899	73	35	tradin	tradin	PROPN
dem-2899	73	36	tion	tion	NOUN
dem-2899	73	37	flow	flow	NOUN
dem-2899	73	38	to	to	ADP
dem-2899	73	39	at	at	SCONJ
dem-2899	73	40	we	we	PRON
dem-2899	73	41	are	be	AUX
dem-2899	73	42	aw	aw	INTJ
dem-2899	73	43	ssion	ssion	NOUN
dem-2899	73	44	from	from	ADP
dem-2899	73	45	o	o	PROPN
dem-2899	73	46	ems	ems	PROPN
dem-2899	73	47	to	to	PART
dem-2899	73	48	be	be	AUX
dem-2899	73	49	th	th	X
dem-2899	73	50	treasury	treasury	NOUN
dem-2899	73	51	bond	bond	NOUN
dem-2899	73	52	e	e	NOUN
dem-2899	73	53	non	non	ADJ
dem-2899	73	54	-	-	ADJ
dem-2899	73	55	station	station	ADJ
dem-2899	73	56	volume	volume	NOUN
dem-2899	73	57	,	,	PUNCT
dem-2899	73	58	wh	wh	NOUN
dem-2899	73	59	model	model	NOUN
dem-2899	73	60	in	in	ADP
dem-2899	73	61	orde	orde	PROPN
dem-2899	73	62	we	we	PRON
dem-2899	73	63	estimated	estimate	VERB
dem-2899	73	64	)	)	PUNCT
dem-2899	73	65	with	with	ADP
dem-2899	73	66	studen	studen	ADJ
dem-2899	73	67	sults	sult	NOUN
dem-2899	73	68	of	of	ADP
dem-2899	73	69	the	the	DET
dem-2899	73	70	v	v	NOUN
dem-2899	73	71	dowska	dowska	NOUN
dem-2899	73	72	-	-	PUNCT
dem-2899	73	73	sójka	sójka	PROPN
dem-2899	73	74	6	6	NUM
dem-2899	73	75	n	n	PROPN
dem-2899	73	76	of	of	ADP
dem-2899	73	77	poland	poland	PROPN
dem-2899	73	78	,	,	PUNCT
dem-2899	73	79	m	m	PROPN
dem-2899	73	80	datastream	datastream	ADJ
dem-2899	73	81	uted	uted	ADJ
dem-2899	73	82	as	as	ADP
dem-2899	73	83	a	a	DET
dem-2899	73	84	dif	dif	ADV
dem-2899	73	85	ield	ield	NOUN
dem-2899	73	86	of	of	ADP
dem-2899	73	87	the	the	DET
dem-2899	73	88	bo	bo	PROPN
dem-2899	73	89	udert	udert	PROPN
dem-2899	73	90	,	,	PUNCT
dem-2899	73	91	gex	gex	PROPN
dem-2899	73	92	,	,	PUNCT
dem-2899	73	93	2	2	NUM
dem-2899	73	94	alculate	alculate	VERB
dem-2899	73	95	the	the	PRON
dem-2899	73	96	s	s	X
dem-2899	73	97	he	he	PRON
dem-2899	73	98	yield	yield	NOUN
dem-2899	73	99	of	of	ADP
dem-2899	73	100	po	po	PROPN
dem-2899	73	101	y	y	PROPN
dem-2899	73	102	)	)	PUNCT
dem-2899	73	103	and	and	CCONJ
dem-2899	73	104	bond	bond	NOUN
dem-2899	73	105	american	american	PROPN
dem-2899	73	106	m	m	PROPN
dem-2899	73	107	ate	eat	VERB
dem-2899	73	108	we	we	PRON
dem-2899	73	109	took	take	VERB
dem-2899	73	110	ex	ex	PRON
dem-2899	73	111	as	as	ADP
dem-2899	73	112	a	a	DET
dem-2899	73	113	repres	repre	NOUN
dem-2899	73	114	ng	ng	PROPN
dem-2899	73	115	volume	volume	NOUN
dem-2899	73	116	.	.	PUNCT
dem-2899	74	1	t	t	PROPN
dem-2899	74	2	the	the	DET
dem-2899	74	3	market	market	NOUN
dem-2899	74	4	(	(	PUNCT
dem-2899	74	5	f	f	PROPN
dem-2899	74	6	ware	ware	NOUN
dem-2899	74	7	of	of	ADP
dem-2899	74	8	the	the	DET
dem-2899	74	9	fa	fa	PROPN
dem-2899	74	10	other	other	ADJ
dem-2899	74	11	market	market	NOUN
dem-2899	74	12	he	he	PRON
dem-2899	74	13	bond	bond	NOUN
dem-2899	74	14	-	-	PUNCT
dem-2899	74	15	spre	spre	PROPN
dem-2899	74	16	d	d	PROPN
dem-2899	74	17	in	in	ADP
dem-2899	74	18	compar	compar	NOUN
dem-2899	74	19	nary	nary	NOUN
dem-2899	74	20	,	,	PUNCT
dem-2899	74	21	we	we	PRON
dem-2899	74	22	mod	mod	VERB
dem-2899	74	23	here	here	ADV
dem-2899	74	24	the	the	DET
dem-2899	74	25	natu	natu	NOUN
dem-2899	74	26	er	er	INTJ
dem-2899	74	27	to	to	PART
dem-2899	74	28	check	check	VERB
dem-2899	74	29	fo	fo	ADP
dem-2899	74	30	the	the	DET
dem-2899	74	31	multiva	multiva	NOUN
dem-2899	74	32	nt	not	PART
dem-2899	74	33	distributio	distributio	PROPN
dem-2899	74	34	var	var	PROPN
dem-2899	74	35	estima	estima	PROPN
dem-2899	74	36	being	be	AUX
dem-2899	74	37	aware	aware	ADJ
dem-2899	74	38	m	m	ADP
dem-2899	74	39	,	,	PUNCT
dem-2899	74	40	www.stoo	www.stoo	ADV
dem-2899	74	41	fference	fference	NOUN
dem-2899	74	42	betw	betw	NOUN
dem-2899	74	43	onds	ond	NOUN
dem-2899	74	44	of	of	ADP
dem-2899	74	45	the	the	DET
dem-2899	74	46	e	e	NOUN
dem-2899	74	47	010	010	NUM
dem-2899	74	48	)	)	PUNCT
dem-2899	74	49	.	.	PUNCT
dem-2899	75	1	in	in	ADP
dem-2899	75	2	our	our	PRON
dem-2899	75	3	spread	spread	NOUN
dem-2899	75	4	by	by	ADP
dem-2899	75	5	sub	sub	NOUN
dem-2899	75	6	olish	olish	PROPN
dem-2899	75	7	10	10	NUM
dem-2899	75	8	-	-	PUNCT
dem-2899	75	9	yea	yea	NOUN
dem-2899	75	10	spread	spread	NOUN
dem-2899	75	11	(	(	PUNCT
dem-2899	75	12	10	10	NUM
dem-2899	75	13	y	y	PROPN
dem-2899	75	14	market	market	NOUN
dem-2899	75	15	influe	influe	VERB
dem-2899	75	16	the	the	DET
dem-2899	75	17	usd	usd	NOUN
dem-2899	75	18	/	/	SYM
dem-2899	75	19	pl	pl	NOUN
dem-2899	75	20	sentative	sentative	NOUN
dem-2899	75	21	one	one	NUM
dem-2899	75	22	the	the	DET
dem-2899	75	23	volume	volume	NOUN
dem-2899	75	24	figure	figure	NOUN
dem-2899	75	25	2	2	NUM
dem-2899	75	26	)	)	PUNCT
dem-2899	75	27	.	.	PUNCT
dem-2899	76	1	act	act	VERB
dem-2899	76	2	that	that	SCONJ
dem-2899	76	3	the	the	DET
dem-2899	76	4	v	v	X
dem-2899	76	5	ts	ts	NOUN
dem-2899	76	6	.	.	PUNCT
dem-2899	77	1	from	from	ADP
dem-2899	77	2	the	the	DET
dem-2899	77	3	ead	ead	NOUN
dem-2899	77	4	,	,	PUNCT
dem-2899	77	5	represen	represen	ADJ
dem-2899	77	6	rison	rison	NOUN
dem-2899	77	7	with	with	ADP
dem-2899	77	8	th	th	NUM
dem-2899	77	9	deled	dele	VERB
dem-2899	77	10	the	the	DET
dem-2899	77	11	log	log	NOUN
dem-2899	77	12	ural	ural	ADJ
dem-2899	77	13	logarithm	logarithm	NOUN
dem-2899	77	14	or	or	CCONJ
dem-2899	77	15	any	any	DET
dem-2899	77	16	intera	intera	NOUN
dem-2899	77	17	ariate	ariate	NOUN
dem-2899	77	18	varianc	varianc	NOUN
dem-2899	77	19	on	on	ADP
dem-2899	77	20	(	(	PUNCT
dem-2899	77	21	see	see	VERB
dem-2899	77	22	appe	appe	PROPN
dem-2899	77	23	ation	ation	PROPN
dem-2899	77	24	.	.	PUNCT
dem-2899	78	1	the	the	DET
dem-2899	78	2	nu	nu	PROPN
dem-2899	78	3	e	e	PROPN
dem-2899	78	4	of	of	ADP
dem-2899	78	5	their	their	PRON
dem-2899	78	6	oq.pl	oq.pl	NOUN
dem-2899	78	7	and	and	CCONJ
dem-2899	78	8	ween	ween	PROPN
dem-2899	78	9	the	the	DET
dem-2899	78	10	economy	economy	NOUN
dem-2899	78	11	case	case	NOUN
dem-2899	78	12	the	the	DET
dem-2899	78	13	btracting	btracting	NOUN
dem-2899	78	14	ars	ar	NOUN
dem-2899	78	15	bonds	bond	VERB
dem-2899	78	16	years	year	NOUN
dem-2899	78	17	maence	maence	VERB
dem-2899	78	18	the	the	DET
dem-2899	78	19	ln	ln	ADJ
dem-2899	78	20	one	one	NUM
dem-2899	78	21	.	.	PUNCT
dem-2899	79	1	e	e	NOUN
dem-2899	79	2	for	for	ADP
dem-2899	79	3	the	the	PRON
dem-2899	79	4	is	be	AUX
dem-2899	79	5	intervariables	intervariable	NOUN
dem-2899	79	6	e	e	NOUN
dem-2899	79	7	chosen	choose	VERB
dem-2899	79	8	nting	nte	VERB
dem-2899	79	9	the	the	DET
dem-2899	79	10	e	e	NOUN
dem-2899	79	11	risk	risk	NOUN
dem-2899	79	12	of	of	ADP
dem-2899	79	13	g	g	NOUN
dem-2899	79	14	-	-	PUNCT
dem-2899	79	15	returns	return	NOUN
dem-2899	79	16	m	m	VERB
dem-2899	79	17	is	be	AUX
dem-2899	79	18	obctions	obction	NOUN
dem-2899	79	19	in	in	ADP
dem-2899	79	20	ce	ce	PROPN
dem-2899	79	21	model	model	PROPN
dem-2899	79	22	endix	endix	PROPN
dem-2899	79	23	for	for	ADP
dem-2899	79	24	umber	umber	NOUN
dem-2899	79	25	of	of	ADP
dem-2899	79	26	e	e	PROPN
dem-2899	79	27	lags	lag	VERB
dem-2899	79	28	(	(	PUNCT
dem-2899	79	29	in	in	ADP
dem-2899	79	30	and	and	CCONJ
dem-2899	79	31	the	the	DET
dem-2899	79	32	used	use	VERB
dem-2899	79	33	fun	fun	NOUN
dem-2899	79	34	tion	tion	NOUN
dem-2899	79	35	.	.	PUNCT
dem-2899	80	1	figure	figure	NOUN
dem-2899	80	2	2	2	NUM
dem-2899	80	3	figure	figure	NOUN
dem-2899	80	4	3	3	NUM
dem-2899	80	5	the	the	DET
dem-2899	80	6	that	that	SCONJ
dem-2899	80	7	all	all	PRON
dem-2899	80	8	more	more	ADJ
dem-2899	80	9	cl	cl	NOUN
dem-2899	80	10	what	what	PRON
dem-2899	80	11	is	be	AUX
dem-2899	80	12	not	not	PART
dem-2899	80	13	depe	depe	NOUN
dem-2899	80	14	of	of	ADP
dem-2899	80	15	the	the	DET
dem-2899	80	16	o	o	NOUN
dem-2899	80	17	investig	investig	NOUN
dem-2899	80	18	economic	economic	ADJ
dem-2899	80	19	situa	situa	NOUN
dem-2899	80	20	our	our	PRON
dem-2899	80	21	case	case	NOUN
dem-2899	80	22	thi	thi	VERB
dem-2899	80	23	estimation	estimation	NOUN
dem-2899	80	24	i	i	PRON
dem-2899	80	25	nction	nction	PROPN
dem-2899	80	26	var	var	NOUN
dem-2899	80	27	.	.	PUNCT
dem-2899	81	1	wig	wig	NOUN
dem-2899	81	2	prices	price	NOUN
dem-2899	81	3	.	.	PUNCT
dem-2899	82	1	diagram	diagram	NOUN
dem-2899	82	2	of	of	ADP
dem-2899	82	3	d	d	PROPN
dem-2899	82	4	e	e	PROPN
dem-2899	82	5	results	result	NOUN
dem-2899	82	6	of	of	ADP
dem-2899	82	7	v	v	ADP
dem-2899	82	8	the	the	DET
dem-2899	82	9	variable	variable	ADJ
dem-2899	82	10	ear	ear	NOUN
dem-2899	82	11	,	,	PUNCT
dem-2899	82	12	we	we	PRON
dem-2899	82	13	prese	prese	VERB
dem-2899	82	14	s	s	VERB
dem-2899	82	15	very	very	ADJ
dem-2899	82	16	specia	specia	NOUN
dem-2899	82	17	end	end	NOUN
dem-2899	82	18	on	on	ADP
dem-2899	82	19	their	their	PRON
dem-2899	82	20	other	other	ADJ
dem-2899	82	21	variable	variable	NOUN
dem-2899	82	22	gated	gate	VERB
dem-2899	82	23	indicato	indicato	ADJ
dem-2899	82	24	ation	ation	NOUN
dem-2899	82	25	of	of	ADP
dem-2899	82	26	the	the	DET
dem-2899	82	27	cou	cou	NOUN
dem-2899	82	28	s	s	PART
dem-2899	82	29	is	be	AUX
dem-2899	82	30	one	one	NUM
dem-2899	82	31	lag	lag	NOUN
dem-2899	82	32	)	)	PUNCT
dem-2899	82	33	s	s	AUX
dem-2899	82	34	run	run	VERB
dem-2899	82	35	in	in	ADP
dem-2899	82	36	r	r	NOUN
dem-2899	82	37	,	,	PUNCT
dem-2899	82	38	p	p	NOUN
dem-2899	82	39	r	r	NOUN
dem-2899	82	40	,	,	PUNCT
dem-2899	82	41	and	and	CCONJ
dem-2899	82	42	the	the	DET
dem-2899	82	43	m	m	NOUN
dem-2899	82	44	and	and	CCONJ
dem-2899	82	45	trading	trade	VERB
dem-2899	82	46	v	v	NUM
dem-2899	82	47	dependencies	dependency	NOUN
dem-2899	82	48	var	var	PROPN
dem-2899	82	49	estimat	estimat	PROPN
dem-2899	82	50	s	s	PART
dem-2899	83	1	interact	interact	NOUN
dem-2899	83	2	on	on	ADP
dem-2899	83	3	ent	ent	NOUN
dem-2899	83	4	the	the	DET
dem-2899	83	5	result	result	NOUN
dem-2899	83	6	al	al	PROPN
dem-2899	83	7	is	be	AUX
dem-2899	83	8	that	that	SCONJ
dem-2899	83	9	from	from	ADP
dem-2899	83	10	own	own	ADJ
dem-2899	83	11	previou	previou	NOUN
dem-2899	83	12	es	es	NOUN
dem-2899	83	13	from	from	ADP
dem-2899	83	14	the	the	DET
dem-2899	83	15	s	s	PROPN
dem-2899	83	16	ors	or	NOUN
dem-2899	83	17	,	,	PUNCT
dem-2899	83	18	they	they	PRON
dem-2899	83	19	are	be	AUX
dem-2899	83	20	untry	untry	NOUN
dem-2899	83	21	or	or	CCONJ
dem-2899	83	22	risk	risk	NOUN
dem-2899	83	23	in	in	ADP
dem-2899	83	24	dynamic	dynamic	ADJ
dem-2899	83	25	eco	eco	NOUN
dem-2899	83	26	is	be	AUX
dem-2899	83	27	chosen	choose	VERB
dem-2899	83	28	vi	vi	PROPN
dem-2899	83	29	package	package	NOUN
dem-2899	83	30	vars	var	NOUN
dem-2899	83	31	model	model	NOUN
dem-2899	83	32	was	be	AUX
dem-2899	83	33	est	est	X
dem-2899	83	34	volume	volume	NOUN
dem-2899	83	35	among	among	ADP
dem-2899	83	36	the	the	DET
dem-2899	83	37	ec	ec	PROPN
dem-2899	83	38	tion	tion	NOUN
dem-2899	83	39	are	be	AUX
dem-2899	83	40	pres	pre	NOUN
dem-2899	83	41	ne	ne	PROPN
dem-2899	83	42	with	with	ADP
dem-2899	83	43	anoth	anoth	PROPN
dem-2899	83	44	ts	ts	ADP
dem-2899	83	45	also	also	ADV
dem-2899	83	46	in	in	ADP
dem-2899	83	47	the	the	DET
dem-2899	83	48	m	m	NOUN
dem-2899	83	49	all	all	PRON
dem-2899	83	50	of	of	ADP
dem-2899	83	51	the	the	DET
dem-2899	83	52	us	us	PROPN
dem-2899	83	53	changes	change	NOUN
dem-2899	83	54	,	,	PUNCT
dem-2899	83	55	b	b	NOUN
dem-2899	83	56	system	system	NOUN
dem-2899	83	57	.	.	PUNCT
dem-2899	84	1	this	this	DET
dem-2899	84	2	e	e	NOUN
dem-2899	84	3	most	most	ADJ
dem-2899	84	4	vulne	vulne	VERB
dem-2899	84	5	the	the	DET
dem-2899	84	6	world	world	PROPN
dem-2899	84	7	fina	fina	PROPN
dem-2899	84	8	onometric	onometric	PROPN
dem-2899	84	9	mo	mo	PROPN
dem-2899	84	10	ia	ia	PROPN
dem-2899	84	11	schwarz	schwarz	PROPN
dem-2899	84	12	in	in	ADP
dem-2899	84	13	(	(	PUNCT
dem-2899	84	14	pfaff	pfaff	PROPN
dem-2899	84	15	,	,	PUNCT
dem-2899	84	16	2008	2008	NUM
dem-2899	84	17	timated	timate	VERB
dem-2899	84	18	utili	utili	PROPN
dem-2899	84	19	conomic	conomic	PROPN
dem-2899	84	20	indic	indic	PROPN
dem-2899	84	21	sented	sente	VERB
dem-2899	84	22	in	in	ADP
dem-2899	84	23	the	the	DET
dem-2899	84	24	her	her	NOUN
dem-2899	84	25	.	.	PUNCT
dem-2899	85	1	in	in	ADP
dem-2899	85	2	order	order	NOUN
dem-2899	85	3	e	e	PRON
dem-2899	85	4	separate	separate	ADJ
dem-2899	85	5	dia	dia	PROPN
dem-2899	85	6	variables	variable	NOUN
dem-2899	85	7	on	on	ADP
dem-2899	85	8	but	but	CCONJ
dem-2899	85	9	are	be	AUX
dem-2899	85	10	expla	expla	NOUN
dem-2899	85	11	s	s	PART
dem-2899	85	12	can	can	AUX
dem-2899	85	13	suggest	suggest	VERB
dem-2899	85	14	erable	erable	ADJ
dem-2899	85	15	to	to	ADP
dem-2899	85	16	cha	cha	VERB
dem-2899	85	17	ancial	ancial	ADJ
dem-2899	85	18	market	market	NOUN
dem-2899	85	19	?	?	PUNCT
dem-2899	85	20	.	.	PUNCT
dem-2899	86	1	dels	del	NOUN
dem-2899	86	2	13	13	NUM
dem-2899	86	3	(	(	PUNCT
dem-2899	86	4	2013	2013	NUM
dem-2899	86	5	nformation	nformation	NOUN
dem-2899	86	6	c	c	PROPN
dem-2899	86	7	8a	8a	NUM
dem-2899	86	8	;	;	PUNCT
dem-2899	86	9	pfaff	pfaff	PROPN
dem-2899	86	10	,	,	PUNCT
dem-2899	86	11	200	200	NUM
dem-2899	86	12	izing	izing	NOUN
dem-2899	86	13	ols	ol	NOUN
dem-2899	86	14	p	p	NOUN
dem-2899	86	15	cators	cator	NOUN
dem-2899	86	16	e	e	NOUN
dem-2899	86	17	table	table	NOUN
dem-2899	86	18	1	1	NUM
dem-2899	86	19	.	.	PUNCT
dem-2899	87	1	w	w	NOUN
dem-2899	87	2	r	r	NOUN
dem-2899	87	3	to	to	PART
dem-2899	87	4	make	make	VERB
dem-2899	87	5	the	the	DET
dem-2899	87	6	agram	agram	NOUN
dem-2899	87	7	(	(	PUNCT
dem-2899	87	8	see	see	VERB
dem-2899	87	9	f	f	PROPN
dem-2899	87	10	nly	nly	ADV
dem-2899	87	11	scds	scds	X
dem-2899	87	12	cha	cha	PROPN
dem-2899	87	13	ained	aine	VERB
dem-2899	87	14	by	by	ADP
dem-2899	87	15	the	the	DET
dem-2899	87	16	t	t	PROPN
dem-2899	88	1	that	that	PRON
dem-2899	88	2	from	from	ADP
dem-2899	88	3	a	a	DET
dem-2899	88	4	anges	ange	NOUN
dem-2899	88	5	in	in	ADP
dem-2899	88	6	expe	expe	ADJ
dem-2899	88	7	...	...	PUNCT
dem-2899	88	8	3	3	X
dem-2899	88	9	)	)	PUNCT
dem-2899	88	10	87–106	87–106	NUM
dem-2899	88	11	91	91	NUM
dem-2899	88	12	criterion	criterion	NOUN
dem-2899	88	13	,	,	PUNCT
dem-2899	88	14	08b	08b	NOUN
dem-2899	88	15	)	)	PUNCT
dem-2899	88	16	.	.	PUNCT
dem-2899	89	1	we	we	PRON
dem-2899	89	2	per	per	ADP
dem-2899	89	3	equa	equa	NOUN
dem-2899	89	4	we	we	PRON
dem-2899	89	5	notice	notice	VERB
dem-2899	89	6	e	e	NOUN
dem-2899	89	7	picture	picture	NOUN
dem-2899	89	8	igure	igure	ADJ
dem-2899	89	9	3	3	NUM
dem-2899	89	10	)	)	PUNCT
dem-2899	89	11	.	.	PUNCT
dem-2899	90	1	anges	ange	NOUN
dem-2899	90	2	do	do	VERB
dem-2899	90	3	changes	change	NOUN
dem-2899	90	4	all	all	PRON
dem-2899	90	5	of	of	ADP
dem-2899	90	6	the	the	DET
dem-2899	90	7	ectations	ectation	NOUN
dem-2899	90	8	agata	agata	PROPN
dem-2899	90	9	kliber	kliber	PROPN
dem-2899	90	10	,	,	PUNCT
dem-2899	90	11	barbara	barbara	PROPN
dem-2899	90	12	będowska	będowska	PROPN
dem-2899	90	13	-	-	PUNCT
dem-2899	90	14	sójka	sójka	ADV
dem-2899	90	15	dynamic	dynamic	ADJ
dem-2899	90	16	econometric	econometric	ADJ
dem-2899	90	17	models	model	NOUN
dem-2899	90	18	13	13	NUM
dem-2899	90	19	(	(	PUNCT
dem-2899	90	20	2013	2013	NUM
dem-2899	90	21	)	)	PUNCT
dem-2899	90	22	87–106	87–106	PROPN
dem-2899	90	23	92	92	NUM
dem-2899	90	24	about	about	ADP
dem-2899	90	25	future	future	ADJ
dem-2899	90	26	development	development	NOUN
dem-2899	90	27	of	of	ADP
dem-2899	90	28	economic	economic	ADJ
dem-2899	90	29	situation	situation	NOUN
dem-2899	90	30	of	of	ADP
dem-2899	90	31	the	the	DET
dem-2899	90	32	country	country	NOUN
dem-2899	90	33	(	(	PUNCT
dem-2899	90	34	if	if	SCONJ
dem-2899	90	35	we	we	PRON
dem-2899	90	36	assume	assume	VERB
dem-2899	90	37	that	that	SCONJ
dem-2899	90	38	such	such	ADJ
dem-2899	90	39	information	information	NOUN
dem-2899	90	40	are	be	AUX
dem-2899	90	41	incorporated	incorporate	VERB
dem-2899	90	42	in	in	ADP
dem-2899	90	43	bond	bond	NOUN
dem-2899	90	44	prices	price	NOUN
dem-2899	90	45	,	,	PUNCT
dem-2899	90	46	exchange	exchange	NOUN
dem-2899	90	47	rates	rate	NOUN
dem-2899	90	48	and	and	CCONJ
dem-2899	90	49	stock	stock	NOUN
dem-2899	90	50	indices	index	NOUN
dem-2899	90	51	)	)	PUNCT
dem-2899	90	52	.	.	PUNCT
dem-2899	91	1	in	in	ADP
dem-2899	91	2	the	the	DET
dem-2899	91	3	next	next	ADJ
dem-2899	91	4	step	step	NOUN
dem-2899	91	5	,	,	PUNCT
dem-2899	91	6	we	we	PRON
dem-2899	91	7	estimate	estimate	VERB
dem-2899	91	8	the	the	DET
dem-2899	91	9	multivariate	multivariate	NOUN
dem-2899	91	10	conditional	conditional	ADJ
dem-2899	91	11	variance	variance	NOUN
dem-2899	91	12	model	model	NOUN
dem-2899	91	13	with	with	ADP
dem-2899	91	14	dynamic	dynamic	ADJ
dem-2899	91	15	correlation	correlation	NOUN
dem-2899	91	16	(	(	PUNCT
dem-2899	91	17	engle	engle	NOUN
dem-2899	91	18	,	,	PUNCT
dem-2899	91	19	2002	2002	NUM
dem-2899	91	20	)	)	PUNCT
dem-2899	91	21	,	,	PUNCT
dem-2899	91	22	dcc(1,1,1,1	dcc(1,1,1,1	X
dem-2899	91	23	)	)	PUNCT
dem-2899	91	24	model	model	NOUN
dem-2899	91	25	with	with	ADP
dem-2899	91	26	student	student	NOUN
dem-2899	91	27	distribution	distribution	NOUN
dem-2899	91	28	,	,	PUNCT
dem-2899	91	29	for	for	ADP
dem-2899	91	30	the	the	DET
dem-2899	91	31	residuals	residual	NOUN
dem-2899	91	32	obtained	obtain	VERB
dem-2899	91	33	from	from	ADP
dem-2899	91	34	the	the	DET
dem-2899	91	35	var	var	NOUN
dem-2899	91	36	model	model	NOUN
dem-2899	91	37	.	.	PUNCT
dem-2899	92	1	estimation	estimation	NOUN
dem-2899	92	2	is	be	AUX
dem-2899	92	3	done	do	VERB
dem-2899	92	4	in	in	ADP
dem-2899	92	5	two	two	NUM
dem-2899	92	6	steps	step	NOUN
dem-2899	92	7	.	.	PUNCT
dem-2899	93	1	first	first	ADV
dem-2899	93	2	,	,	PUNCT
dem-2899	93	3	we	we	PRON
dem-2899	93	4	estimate	estimate	VERB
dem-2899	93	5	univariate	univariate	ADJ
dem-2899	93	6	volatilities	volatility	NOUN
dem-2899	93	7	(	(	PUNCT
dem-2899	93	8	garch	garch	NOUN
dem-2899	93	9	models	model	NOUN
dem-2899	93	10	)	)	PUNCT
dem-2899	93	11	,	,	PUNCT
dem-2899	93	12	and	and	CCONJ
dem-2899	93	13	in	in	ADP
dem-2899	93	14	the	the	DET
dem-2899	93	15	next	next	ADJ
dem-2899	93	16	step	step	NOUN
dem-2899	93	17	–	–	PUNCT
dem-2899	93	18	the	the	DET
dem-2899	93	19	correlation	correlation	NOUN
dem-2899	93	20	equation	equation	NOUN
dem-2899	93	21	.	.	PUNCT
dem-2899	94	1	the	the	DET
dem-2899	94	2	estimation	estimation	NOUN
dem-2899	94	3	was	be	AUX
dem-2899	94	4	run	run	VERB
dem-2899	94	5	via	via	ADP
dem-2899	94	6	oxmetrics6	oxmetrics6	PROPN
dem-2899	94	7	software	software	NOUN
dem-2899	94	8	with	with	ADP
dem-2899	94	9	package	package	NOUN
dem-2899	94	10	g@rch	g@rch	NOUN
dem-2899	94	11	(	(	PUNCT
dem-2899	94	12	laurent	laurent	NOUN
dem-2899	94	13	and	and	CCONJ
dem-2899	94	14	peters	peters	PROPN
dem-2899	94	15	,	,	PUNCT
dem-2899	94	16	2002	2002	NUM
dem-2899	94	17	)	)	PUNCT
dem-2899	94	18	.	.	PUNCT
dem-2899	95	1	the	the	DET
dem-2899	95	2	results	result	NOUN
dem-2899	95	3	of	of	ADP
dem-2899	95	4	estimation	estimation	NOUN
dem-2899	95	5	are	be	AUX
dem-2899	95	6	presented	present	VERB
dem-2899	95	7	in	in	ADP
dem-2899	95	8	table	table	NOUN
dem-2899	95	9	2	2	NUM
dem-2899	95	10	.	.	PUNCT
dem-2899	96	1	as	as	SCONJ
dem-2899	96	2	we	we	PRON
dem-2899	96	3	can	can	AUX
dem-2899	96	4	see	see	VERB
dem-2899	96	5	,	,	PUNCT
dem-2899	96	6	all	all	DET
dem-2899	96	7	the	the	DET
dem-2899	96	8	variables	variable	NOUN
dem-2899	96	9	(	(	PUNCT
dem-2899	96	10	apart	apart	ADV
dem-2899	96	11	from	from	ADP
dem-2899	96	12	trading	trading	NOUN
dem-2899	96	13	volume	volume	NOUN
dem-2899	96	14	)	)	PUNCT
dem-2899	96	15	are	be	AUX
dem-2899	96	16	significant	significant	ADJ
dem-2899	96	17	in	in	ADP
dem-2899	96	18	all	all	DET
dem-2899	96	19	equations	equation	NOUN
dem-2899	96	20	.	.	PUNCT
dem-2899	97	1	also	also	ADV
dem-2899	97	2	the	the	DET
dem-2899	97	3	average	average	ADJ
dem-2899	97	4	values	value	NOUN
dem-2899	97	5	of	of	ADP
dem-2899	97	6	correlations	correlation	NOUN
dem-2899	97	7	are	be	AUX
dem-2899	97	8	significant	significant	ADJ
dem-2899	97	9	in	in	ADP
dem-2899	97	10	the	the	DET
dem-2899	97	11	case	case	NOUN
dem-2899	97	12	of	of	ADP
dem-2899	97	13	each	each	DET
dem-2899	97	14	pairs	pair	NOUN
dem-2899	97	15	excluding	exclude	VERB
dem-2899	97	16	the	the	DET
dem-2899	97	17	ones	one	NOUN
dem-2899	97	18	with	with	ADP
dem-2899	97	19	volume	volume	NOUN
dem-2899	97	20	.	.	PUNCT
dem-2899	98	1	absolute	absolute	ADJ
dem-2899	98	2	values	value	NOUN
dem-2899	98	3	of	of	ADP
dem-2899	98	4	the	the	DET
dem-2899	98	5	correlations	correlation	NOUN
dem-2899	98	6	are	be	AUX
dem-2899	98	7	approximately	approximately	ADV
dem-2899	98	8	0.4	0.4	NUM
dem-2899	98	9	.	.	PUNCT
dem-2899	99	1	in	in	ADP
dem-2899	99	2	figure	figure	NOUN
dem-2899	99	3	4	4	NUM
dem-2899	99	4	we	we	PRON
dem-2899	99	5	present	present	VERB
dem-2899	99	6	the	the	DET
dem-2899	99	7	obtained	obtain	VERB
dem-2899	99	8	estimates	estimate	NOUN
dem-2899	99	9	of	of	ADP
dem-2899	99	10	conditional	conditional	ADJ
dem-2899	99	11	correlations	correlation	NOUN
dem-2899	99	12	for	for	ADP
dem-2899	99	13	each	each	DET
dem-2899	99	14	pairs	pair	NOUN
dem-2899	99	15	apart	apart	ADV
dem-2899	99	16	from	from	ADP
dem-2899	99	17	the	the	DET
dem-2899	99	18	ones	one	NOUN
dem-2899	99	19	including	include	VERB
dem-2899	99	20	volume	volume	NOUN
dem-2899	99	21	,	,	PUNCT
dem-2899	99	22	while	while	SCONJ
dem-2899	99	23	in	in	ADP
dem-2899	99	24	figure	figure	NOUN
dem-2899	99	25	5	5	NUM
dem-2899	99	26	–	–	PUNCT
dem-2899	99	27	the	the	DET
dem-2899	99	28	estimates	estimate	NOUN
dem-2899	99	29	of	of	ADP
dem-2899	99	30	conditional	conditional	ADJ
dem-2899	99	31	variances	variance	NOUN
dem-2899	99	32	.	.	PUNCT
dem-2899	100	1	2	2	X
dem-2899	100	2	.	.	X
dem-2899	100	3	changes	change	NOUN
dem-2899	100	4	of	of	ADP
dem-2899	100	5	economic	economic	ADJ
dem-2899	100	6	situation	situation	NOUN
dem-2899	100	7	in	in	ADP
dem-2899	100	8	the	the	DET
dem-2899	100	9	world	world	NOUN
dem-2899	100	10	and	and	CCONJ
dem-2899	100	11	polish	polish	ADJ
dem-2899	100	12	scds	scds	NOUN
dem-2899	100	13	pricing	pricing	NOUN
dem-2899	100	14	in	in	ADP
dem-2899	100	15	this	this	DET
dem-2899	100	16	section	section	NOUN
dem-2899	100	17	we	we	PRON
dem-2899	100	18	examine	examine	VERB
dem-2899	100	19	the	the	DET
dem-2899	100	20	vulnerability	vulnerability	NOUN
dem-2899	100	21	of	of	ADP
dem-2899	100	22	polish	polish	ADJ
dem-2899	100	23	scds	scds	NOUN
dem-2899	100	24	prices	price	NOUN
dem-2899	100	25	to	to	ADP
dem-2899	100	26	the	the	DET
dem-2899	100	27	changes	change	NOUN
dem-2899	100	28	of	of	ADP
dem-2899	100	29	similar	similar	ADJ
dem-2899	100	30	indicators	indicator	NOUN
dem-2899	100	31	from	from	ADP
dem-2899	100	32	the	the	DET
dem-2899	100	33	neighbor	neighbor	NOUN
dem-2899	100	34	countries	country	NOUN
dem-2899	100	35	.	.	PUNCT
dem-2899	101	1	again	again	ADV
dem-2899	101	2	,	,	PUNCT
dem-2899	101	3	we	we	PRON
dem-2899	101	4	take	take	VERB
dem-2899	101	5	into	into	ADP
dem-2899	101	6	account	account	NOUN
dem-2899	101	7	:	:	PUNCT
dem-2899	101	8	bond	bond	NOUN
dem-2899	101	9	spreads	spread	NOUN
dem-2899	101	10	,	,	PUNCT
dem-2899	101	11	exchange	exchange	NOUN
dem-2899	101	12	rates	rate	NOUN
dem-2899	101	13	and	and	CCONJ
dem-2899	101	14	stock	stock	NOUN
dem-2899	101	15	exchange	exchange	NOUN
dem-2899	101	16	indices	index	NOUN
dem-2899	101	17	.	.	PUNCT
dem-2899	102	1	in	in	ADP
dem-2899	102	2	order	order	NOUN
dem-2899	102	3	to	to	PART
dem-2899	102	4	account	account	VERB
dem-2899	102	5	for	for	ADP
dem-2899	102	6	as	as	ADV
dem-2899	102	7	much	much	ADJ
dem-2899	102	8	of	of	ADP
dem-2899	102	9	the	the	DET
dem-2899	102	10	variability	variability	NOUN
dem-2899	102	11	of	of	ADP
dem-2899	102	12	the	the	DET
dem-2899	102	13	data	datum	NOUN
dem-2899	102	14	as	as	ADP
dem-2899	102	15	possible	possible	ADJ
dem-2899	102	16	and	and	CCONJ
dem-2899	102	17	to	to	PART
dem-2899	102	18	reduce	reduce	VERB
dem-2899	102	19	the	the	DET
dem-2899	102	20	number	number	NOUN
dem-2899	102	21	of	of	ADP
dem-2899	102	22	explanatory	explanatory	ADJ
dem-2899	102	23	variables	variable	NOUN
dem-2899	102	24	we	we	PRON
dem-2899	102	25	decide	decide	VERB
dem-2899	102	26	to	to	PART
dem-2899	102	27	use	use	VERB
dem-2899	102	28	principal	principal	ADJ
dem-2899	102	29	component	component	NOUN
dem-2899	102	30	analysis	analysis	NOUN
dem-2899	102	31	and	and	CCONJ
dem-2899	102	32	check	check	VERB
dem-2899	102	33	the	the	DET
dem-2899	102	34	reaction	reaction	NOUN
dem-2899	102	35	of	of	ADP
dem-2899	102	36	polish	polish	ADJ
dem-2899	102	37	scds	scds	NOUN
dem-2899	102	38	prices	price	NOUN
dem-2899	102	39	to	to	ADP
dem-2899	102	40	the	the	DET
dem-2899	102	41	changes	change	NOUN
dem-2899	102	42	of	of	ADP
dem-2899	102	43	the	the	DET
dem-2899	102	44	first	first	ADJ
dem-2899	102	45	principal	principal	ADJ
dem-2899	102	46	components	component	NOUN
dem-2899	102	47	of	of	ADP
dem-2899	102	48	each	each	DET
dem-2899	102	49	group	group	NOUN
dem-2899	102	50	of	of	ADP
dem-2899	102	51	variables	variable	NOUN
dem-2899	102	52	.	.	PUNCT
dem-2899	103	1	we	we	PRON
dem-2899	103	2	calculate	calculate	VERB
dem-2899	103	3	the	the	DET
dem-2899	103	4	bond	bond	NOUN
dem-2899	103	5	spreads	spread	NOUN
dem-2899	103	6	assuming	assume	VERB
dem-2899	103	7	again	again	ADV
dem-2899	103	8	that	that	SCONJ
dem-2899	103	9	the	the	DET
dem-2899	103	10	risk	risk	NOUN
dem-2899	103	11	free	free	ADJ
dem-2899	103	12	rate	rate	NOUN
dem-2899	103	13	of	of	ADP
dem-2899	103	14	the	the	DET
dem-2899	103	15	region	region	NOUN
dem-2899	103	16	is	be	AUX
dem-2899	103	17	represented	represent	VERB
dem-2899	103	18	by	by	ADP
dem-2899	103	19	the	the	DET
dem-2899	103	20	german	german	ADJ
dem-2899	103	21	bonds	bond	NOUN
dem-2899	103	22	yield	yield	VERB
dem-2899	103	23	.	.	PUNCT
dem-2899	104	1	based	base	VERB
dem-2899	104	2	upon	upon	SCONJ
dem-2899	104	3	the	the	DET
dem-2899	104	4	previous	previous	ADJ
dem-2899	104	5	studies	study	NOUN
dem-2899	104	6	(	(	PUNCT
dem-2899	104	7	kliber	kliber	PROPN
dem-2899	104	8	,	,	PUNCT
dem-2899	104	9	2013a	2013a	NUM
dem-2899	104	10	)	)	PUNCT
dem-2899	104	11	we	we	PRON
dem-2899	104	12	are	be	AUX
dem-2899	104	13	aware	aware	ADJ
dem-2899	104	14	of	of	ADP
dem-2899	104	15	the	the	DET
dem-2899	104	16	fact	fact	NOUN
dem-2899	104	17	that	that	SCONJ
dem-2899	104	18	in	in	ADP
dem-2899	104	19	the	the	DET
dem-2899	104	20	case	case	NOUN
dem-2899	104	21	of	of	ADP
dem-2899	104	22	some	some	DET
dem-2899	104	23	countries	country	NOUN
dem-2899	104	24	such	such	ADJ
dem-2899	104	25	spreads	spread	NOUN
dem-2899	104	26	in	in	ADP
dem-2899	104	27	some	some	DET
dem-2899	104	28	periods	period	NOUN
dem-2899	104	29	appear	appear	VERB
dem-2899	104	30	to	to	PART
dem-2899	104	31	be	be	AUX
dem-2899	104	32	negative	negative	ADJ
dem-2899	104	33	.	.	PUNCT
dem-2899	105	1	hence	hence	ADV
dem-2899	105	2	,	,	PUNCT
dem-2899	105	3	we	we	PRON
dem-2899	105	4	excluded	exclude	VERB
dem-2899	105	5	some	some	PRON
dem-2899	105	6	of	of	ADP
dem-2899	105	7	the	the	DET
dem-2899	105	8	countries	country	NOUN
dem-2899	105	9	from	from	ADP
dem-2899	105	10	the	the	DET
dem-2899	105	11	analysis	analysis	NOUN
dem-2899	105	12	.	.	PUNCT
dem-2899	106	1	eventually	eventually	ADV
dem-2899	106	2	,	,	PUNCT
dem-2899	106	3	we	we	PRON
dem-2899	106	4	took	take	VERB
dem-2899	106	5	into	into	ADP
dem-2899	106	6	account	account	NOUN
dem-2899	106	7	the	the	DET
dem-2899	106	8	following	follow	VERB
dem-2899	106	9	bond	bond	NOUN
dem-2899	106	10	spreads	spread	NOUN
dem-2899	106	11	:	:	PUNCT
dem-2899	106	12	french	french	ADJ
dem-2899	106	13	and	and	CCONJ
dem-2899	106	14	british	british	ADJ
dem-2899	106	15	(	(	PUNCT
dem-2899	106	16	so	so	ADV
dem-2899	106	17	called	call	VERB
dem-2899	106	18	low	low	ADJ
dem-2899	106	19	-	-	PUNCT
dem-2899	106	20	yield	yield	NOUN
dem-2899	106	21	western	western	ADJ
dem-2899	106	22	european	european	ADJ
dem-2899	106	23	countries	country	NOUN
dem-2899	106	24	)	)	PUNCT
dem-2899	106	25	,	,	PUNCT
dem-2899	106	26	spanish	spanish	NOUN
dem-2899	106	27	(	(	PUNCT
dem-2899	106	28	southern	southern	ADJ
dem-2899	106	29	europe	europe	PROPN
dem-2899	106	30	)	)	PUNCT
dem-2899	106	31	,	,	PUNCT
dem-2899	106	32	swedish	swedish	ADJ
dem-2899	106	33	and	and	CCONJ
dem-2899	106	34	finnish	finnish	ADJ
dem-2899	106	35	(	(	PUNCT
dem-2899	106	36	northern	northern	PROPN
dem-2899	106	37	europe	europe	PROPN
dem-2899	106	38	)	)	PUNCT
dem-2899	106	39	and	and	CCONJ
dem-2899	106	40	hungarian	hungarian	ADJ
dem-2899	106	41	one	one	NUM
dem-2899	106	42	(	(	PUNCT
dem-2899	106	43	central	central	ADJ
dem-2899	106	44	europe	europe	PROPN
dem-2899	106	45	)	)	PUNCT
dem-2899	106	46	.	.	PUNCT
dem-2899	107	1	the	the	DET
dem-2899	107	2	dynamics	dynamic	NOUN
dem-2899	107	3	of	of	ADP
dem-2899	107	4	the	the	DET
dem-2899	107	5	spreads	spread	NOUN
dem-2899	107	6	is	be	AUX
dem-2899	107	7	presented	present	VERB
dem-2899	107	8	in	in	ADP
dem-2899	107	9	figure	figure	NOUN
dem-2899	107	10	6	6	NUM
dem-2899	107	11	.	.	PUNCT
dem-2899	108	1	at	at	ADP
dem-2899	108	2	the	the	DET
dem-2899	108	3	time	time	NOUN
dem-2899	108	4	of	of	ADP
dem-2899	108	5	the	the	DET
dem-2899	108	6	study	study	NOUN
dem-2899	108	7	hungary	hungary	PROPN
dem-2899	108	8	was	be	AUX
dem-2899	108	9	the	the	DET
dem-2899	108	10	country	country	NOUN
dem-2899	108	11	of	of	ADP
dem-2899	108	12	the	the	DET
dem-2899	108	13	highest	high	ADJ
dem-2899	108	14	bond	bond	NOUN
dem-2899	108	15	spread	spread	VERB
dem-2899	108	16	,	,	PUNCT
dem-2899	108	17	i.e.	i.e.	X
dem-2899	108	18	its	its	PRON
dem-2899	108	19	risk	risk	NOUN
dem-2899	108	20	was	be	AUX
dem-2899	108	21	the	the	DET
dem-2899	108	22	highest	high	ADJ
dem-2899	108	23	among	among	ADP
dem-2899	108	24	all	all	DET
dem-2899	108	25	analyzed	analyze	VERB
dem-2899	108	26	countries	country	NOUN
dem-2899	108	27	,	,	PUNCT
dem-2899	108	28	compared	compare	VERB
dem-2899	108	29	to	to	ADP
dem-2899	108	30	the	the	DET
dem-2899	108	31	german	german	ADJ
dem-2899	108	32	bonds	bond	NOUN
dem-2899	108	33	.	.	PUNCT
dem-2899	109	1	we	we	PRON
dem-2899	109	2	observe	observe	VERB
dem-2899	109	3	also	also	ADV
dem-2899	109	4	a	a	DET
dem-2899	109	5	gradual	gradual	ADJ
dem-2899	109	6	growth	growth	NOUN
dem-2899	109	7	of	of	ADP
dem-2899	109	8	risk	risk	NOUN
dem-2899	109	9	of	of	ADP
dem-2899	109	10	spain	spain	PROPN
dem-2899	109	11	,	,	PUNCT
dem-2899	109	12	which	which	PRON
dem-2899	109	13	equaled	equal	VERB
dem-2899	109	14	the	the	DET
dem-2899	109	15	hungarian	hungarian	ADJ
dem-2899	109	16	one	one	NUM
dem-2899	109	17	at	at	ADP
dem-2899	109	18	the	the	DET
dem-2899	109	19	end	end	NOUN
dem-2899	109	20	of	of	ADP
dem-2899	109	21	the	the	DET
dem-2899	109	22	studied	studied	ADJ
dem-2899	109	23	period	period	NOUN
dem-2899	109	24	.	.	PUNCT
dem-2899	110	1	yields	yield	NOUN
dem-2899	110	2	of	of	ADP
dem-2899	110	3	bonds	bond	NOUN
dem-2899	110	4	in	in	ADP
dem-2899	110	5	france	france	PROPN
dem-2899	110	6	and	and	CCONJ
dem-2899	110	7	uk	uk	PROPN
dem-2899	110	8	are	be	AUX
dem-2899	110	9	very	very	ADV
dem-2899	110	10	low	low	ADJ
dem-2899	110	11	e	e	NOUN
dem-2899	110	12	figure	figure	NOUN
dem-2899	110	13	4	4	NUM
dem-2899	110	14	figure	figure	NOUN
dem-2899	110	15	5	5	NUM
dem-2899	110	16	economic	economic	ADJ
dem-2899	110	17	situa	situa	NOUN
dem-2899	110	18	.	.	PUNCT
dem-2899	111	1	conditional	conditional	ADJ
dem-2899	111	2	wig	wig	NOUN
dem-2899	111	3	returns	return	NOUN
dem-2899	111	4	.	.	PUNCT
dem-2899	112	1	volatilities	volatility	NOUN
dem-2899	112	2	and	and	CCONJ
dem-2899	112	3	returns	return	VERB
dem-2899	112	4	o	o	PROPN
dem-2899	112	5	ation	ation	NOUN
dem-2899	112	6	of	of	ADP
dem-2899	112	7	the	the	DET
dem-2899	112	8	cou	cou	PROPN
dem-2899	112	9	correlations	correlation	NOUN
dem-2899	112	10	s	s	PART
dem-2899	112	11	and	and	CCONJ
dem-2899	112	12	returns	return	VERB
dem-2899	112	13	f	f	PROPN
dem-2899	112	14	of	of	ADP
dem-2899	112	15	cds	cds	PROPN
dem-2899	112	16	spre	spre	PROPN
dem-2899	112	17	of	of	ADP
dem-2899	112	18	usd	usd	PROPN
dem-2899	112	19	/	/	SYM
dem-2899	112	20	pln	pln	PROPN
dem-2899	112	21	untry	untry	NOUN
dem-2899	112	22	or	or	CCONJ
dem-2899	112	23	risk	risk	NOUN
dem-2899	112	24	in	in	ADP
dem-2899	112	25	dynamic	dynamic	ADJ
dem-2899	112	26	eco	eco	NOUN
dem-2899	112	27	of	of	ADP
dem-2899	112	28	cds	cds	PROPN
dem-2899	112	29	spre	spre	PROPN
dem-2899	112	30	from	from	ADP
dem-2899	112	31	usd	usd	PROPN
dem-2899	112	32	/	/	SYM
dem-2899	112	33	pl	pl	NOUN
dem-2899	112	34	ead	ead	NOUN
dem-2899	112	35	changes	change	NOUN
dem-2899	112	36	,	,	PUNCT
dem-2899	112	37	b	b	PROPN
dem-2899	112	38	exchange	exchange	NOUN
dem-2899	112	39	rate	rate	NOUN
dem-2899	112	40	the	the	DET
dem-2899	112	41	world	world	PROPN
dem-2899	112	42	fina	fina	PROPN
dem-2899	112	43	onometric	onometric	PROPN
dem-2899	112	44	mo	mo	PROPN
dem-2899	112	45	ead	ead	PROPN
dem-2899	112	46	changes	change	NOUN
dem-2899	112	47	,	,	PUNCT
dem-2899	112	48	ln	ln	ADJ
dem-2899	112	49	exchange	exchange	NOUN
dem-2899	112	50	r	r	NOUN
dem-2899	112	51	bond	bond	NOUN
dem-2899	112	52	spread	spread	VERB
dem-2899	112	53	e	e	NOUN
dem-2899	112	54	(	(	PUNCT
dem-2899	112	55	dcc	dcc	PROPN
dem-2899	112	56	model	model	NOUN
dem-2899	112	57	ancial	ancial	ADJ
dem-2899	112	58	market	market	NOUN
dem-2899	112	59	?	?	PUNCT
dem-2899	112	60	.	.	PUNCT
dem-2899	113	1	dels	del	NOUN
dem-2899	113	2	13	13	NUM
dem-2899	113	3	(	(	PUNCT
dem-2899	113	4	2013	2013	NUM
dem-2899	113	5	bond	bond	NOUN
dem-2899	113	6	spread	spread	VERB
dem-2899	113	7	rate	rate	NOUN
dem-2899	113	8	(	(	PUNCT
dem-2899	113	9	dcc	dcc	PROPN
dem-2899	113	10	mo	mo	PROPN
dem-2899	113	11	changes	change	NOUN
dem-2899	113	12	,	,	PUNCT
dem-2899	113	13	wig	wig	NOUN
dem-2899	113	14	l	l	NOUN
dem-2899	113	15	)	)	PUNCT
dem-2899	113	16	...	...	PUNCT
dem-2899	114	1	3	3	X
dem-2899	114	2	)	)	PUNCT
dem-2899	114	3	87–106	87–106	NUM
dem-2899	114	4	93	93	NUM
dem-2899	114	5	changes	change	NOUN
dem-2899	114	6	,	,	PUNCT
dem-2899	114	7	del	del	NOUN
dem-2899	114	8	)	)	PUNCT
dem-2899	114	9	g	g	NOUN
dem-2899	114	10	returns	return	NOUN
dem-2899	114	11	dynamic	dynamic	ADJ
dem-2899	114	12	94	94	NUM
dem-2899	114	13	compare	compare	NOUN
dem-2899	114	14	spread	spread	NOUN
dem-2899	115	1	i	i	PRON
dem-2899	115	2	the	the	PRON
dem-2899	115	3	that	that	SCONJ
dem-2899	115	4	the	the	DET
dem-2899	115	5	variance	variance	NOUN
dem-2899	115	6	tributed	tribute	VERB
dem-2899	115	7	souther	souther	PROPN
dem-2899	115	8	countrie	countrie	ADJ
dem-2899	115	9	figure	figure	NOUN
dem-2899	115	10	6	6	NUM
dem-2899	115	11	from	from	ADP
dem-2899	115	12	pean	pean	PROPN
dem-2899	115	13	un	un	PROPN
dem-2899	115	14	dollar	dollar	PROPN
dem-2899	115	15	u	u	PROPN
dem-2899	115	16	nent	nent	VERB
dem-2899	115	17	an	an	DET
dem-2899	115	18	explana	explana	NOUN
dem-2899	115	19	of	of	ADP
dem-2899	115	20	the	the	DET
dem-2899	115	21	sek	sek	PROPN
dem-2899	115	22	/	/	SYM
dem-2899	115	23	pl	pl	PROPN
dem-2899	115	24	fina	fina	PROPN
dem-2899	115	25	and	and	CCONJ
dem-2899	115	26	s	s	PROPN
dem-2899	115	27	&	&	CCONJ
dem-2899	115	28	and	and	CCONJ
dem-2899	115	29	the	the	DET
dem-2899	115	30	ance	ance	NOUN
dem-2899	115	31	(	(	PUNCT
dem-2899	115	32	se	se	ADV
dem-2899	115	33	we	we	PRON
dem-2899	115	34	transmis	transmis	PROPN
dem-2899	115	35	stock	stock	PROPN
dem-2899	115	36	ex	ex	PROPN
dem-2899	115	37	sions	sion	NOUN
dem-2899	115	38	.	.	PUNCT
dem-2899	116	1	econometric	econometric	PROPN
dem-2899	116	2	ed	ed	PROPN
dem-2899	116	3	to	to	ADP
dem-2899	116	4	germa	germa	NOUN
dem-2899	116	5	is	be	AUX
dem-2899	116	6	occasional	occasional	ADJ
dem-2899	116	7	e	e	NOUN
dem-2899	116	8	results	result	NOUN
dem-2899	116	9	of	of	ADP
dem-2899	116	10	p	p	PROPN
dem-2899	116	11	e	e	PROPN
dem-2899	116	12	first	first	ADJ
dem-2899	116	13	princip	princip	X
dem-2899	116	14	e	e	X
dem-2899	116	15	of	of	ADP
dem-2899	116	16	the	the	DET
dem-2899	116	17	syst	syst	PROPN
dem-2899	116	18	d	d	PROPN
dem-2899	116	19	to	to	ADP
dem-2899	116	20	spain	spain	PROPN
dem-2899	116	21	,	,	PUNCT
dem-2899	116	22	rn	rn	PROPN
dem-2899	116	23	europe	europe	PROPN
dem-2899	116	24	ha	ha	INTJ
dem-2899	116	25	es	es	PROPN
dem-2899	116	26	.	.	PROPN
dem-2899	116	27	.	.	PUNCT
dem-2899	117	1	bond	bond	NOUN
dem-2899	117	2	spread	spread	VERB
dem-2899	117	3	m	m	VERB
dem-2899	117	4	the	the	DET
dem-2899	117	5	exchan	exchan	PROPN
dem-2899	117	6	nion	nion	NOUN
dem-2899	117	7	:	:	PUNCT
dem-2899	117	8	eur	eur	ADJ
dem-2899	117	9	/	/	SYM
dem-2899	117	10	p	p	NOUN
dem-2899	117	11	usd	usd	PROPN
dem-2899	117	12	/	/	SYM
dem-2899	117	13	pln	pln	PROPN
dem-2899	117	14	(	(	PUNCT
dem-2899	117	15	se	se	INTJ
dem-2899	117	16	nalysis	nalysis	NOUN
dem-2899	117	17	in	in	ADP
dem-2899	117	18	tab	tab	NOUN
dem-2899	117	19	atory	atory	ADJ
dem-2899	117	20	power	power	NOUN
dem-2899	117	21	,	,	PUNCT
dem-2899	117	22	system	system	NOUN
dem-2899	117	23	.	.	PUNCT
dem-2899	118	1	th	th	X
dem-2899	119	1	ln	ln	ADV
dem-2899	120	1	–	–	PUNCT
dem-2899	121	1	that	that	PRON
dem-2899	121	2	is	be	AUX
dem-2899	121	3	t	t	NOUN
dem-2899	121	4	ally	ally	NOUN
dem-2899	121	5	,	,	PUNCT
dem-2899	121	6	we	we	PRON
dem-2899	121	7	ana	ana	PROPN
dem-2899	121	8	&	&	CCONJ
dem-2899	121	9	p500	p500	PROPN
dem-2899	121	10	(	(	PUNCT
dem-2899	121	11	see	see	VERB
dem-2899	121	12	f	f	PROPN
dem-2899	121	13	first	first	ADV
dem-2899	121	14	compo	compo	X
dem-2899	121	15	ee	ee	PROPN
dem-2899	121	16	table	table	NOUN
dem-2899	121	17	5	5	NUM
dem-2899	121	18	)	)	PUNCT
dem-2899	121	19	.	.	PUNCT
dem-2899	122	1	conclude	conclude	VERB
dem-2899	122	2	th	th	X
dem-2899	122	3	ssion	ssion	NOUN
dem-2899	122	4	from	from	ADP
dem-2899	122	5	a	a	DET
dem-2899	122	6	xchange	xchange	PROPN
dem-2899	122	7	ind	ind	PROPN
dem-2899	122	8	agata	agata	PROPN
dem-2899	122	9	klibe	klibe	PROPN
dem-2899	122	10	c	c	PROPN
dem-2899	122	11	models	model	NOUN
dem-2899	122	12	13	13	NUM
dem-2899	122	13	(	(	PUNCT
dem-2899	122	14	2	2	NUM
dem-2899	122	15	an	an	DET
dem-2899	122	16	bonds	bond	NOUN
dem-2899	122	17	,	,	PUNCT
dem-2899	122	18	wh	wh	AUX
dem-2899	122	19	lly	lly	ADV
dem-2899	122	20	even	even	ADV
dem-2899	122	21	nega	nega	PROPN
dem-2899	122	22	ca	can	AUX
dem-2899	122	23	on	on	ADP
dem-2899	122	24	bond	bond	NOUN
dem-2899	122	25	pal	pal	ADJ
dem-2899	122	26	compone	compone	NOUN
dem-2899	122	27	tem	tem	PROPN
dem-2899	122	28	.	.	PUNCT
dem-2899	123	1	the	the	DET
dem-2899	123	2	hi	hi	PROPN
dem-2899	123	3	france	france	PROPN
dem-2899	123	4	and	and	CCONJ
dem-2899	123	5	ad	ad	NOUN
dem-2899	123	6	indeed	indeed	ADV
dem-2899	123	7	a	a	DET
dem-2899	123	8	ds	ds	NOUN
dem-2899	123	9	of	of	ADP
dem-2899	123	10	the	the	DET
dem-2899	123	11	selec	selec	NOUN
dem-2899	123	12	nge	nge	NOUN
dem-2899	123	13	rates	rate	NOUN
dem-2899	123	14	we	we	PRON
dem-2899	123	15	pln	pln	PROPN
dem-2899	123	16	,	,	PUNCT
dem-2899	123	17	gbp	gbp	PROPN
dem-2899	123	18	/	/	SYM
dem-2899	123	19	p	p	NOUN
dem-2899	123	20	ee	ee	PROPN
dem-2899	123	21	figure	figure	NOUN
dem-2899	123	22	7	7	NUM
dem-2899	123	23	)	)	PUNCT
dem-2899	123	24	.	.	PUNCT
dem-2899	124	1	ble	ble	ADJ
dem-2899	124	2	4	4	NUM
dem-2899	124	3	.	.	PUNCT
dem-2899	125	1	in	in	ADP
dem-2899	125	2	this	this	PRON
dem-2899	125	3	since	since	SCONJ
dem-2899	125	4	it	it	PRON
dem-2899	125	5	was	be	AUX
dem-2899	125	6	he	he	PRON
dem-2899	125	7	highest	high	ADJ
dem-2899	125	8	the	the	DET
dem-2899	125	9	eu	eu	PROPN
dem-2899	125	10	curre	curre	PROPN
dem-2899	125	11	alyse	alyse	PROPN
dem-2899	125	12	four	four	NUM
dem-2899	125	13	sto	sto	PROPN
dem-2899	125	14	figure	figure	NOUN
dem-2899	125	15	8)	8)	NUM
dem-2899	125	16	.	.	PUNCT
dem-2899	126	1	th	th	X
dem-2899	126	2	onent	onent	PROPN
dem-2899	126	3	was	be	AUX
dem-2899	126	4	ab	ab	PROPN
dem-2899	126	5	hat	hat	NOUN
dem-2899	126	6	the	the	DET
dem-2899	126	7	bond	bond	NOUN
dem-2899	126	8	all	all	PRON
dem-2899	126	9	of	of	ADP
dem-2899	126	10	the	the	DET
dem-2899	126	11	an	an	DET
dem-2899	126	12	dices	dice	NOUN
dem-2899	126	13	are	be	AUX
dem-2899	126	14	stro	stro	ADJ
dem-2899	126	15	er	er	INTJ
dem-2899	126	16	,	,	PUNCT
dem-2899	126	17	barbara	barbara	PROPN
dem-2899	126	18	będ	będ	PROPN
dem-2899	126	19	2013	2013	NUM
dem-2899	126	20	)	)	PUNCT
dem-2899	127	1	87–106	87–106	PRON
dem-2899	127	2	hile	hile	VERB
dem-2899	127	3	in	in	ADP
dem-2899	127	4	the	the	DET
dem-2899	127	5	n	n	ADV
dem-2899	127	6	ative	ative	NOUN
dem-2899	127	7	.	.	PUNCT
dem-2899	128	1	d	d	NOUN
dem-2899	128	2	spreads	spread	NOUN
dem-2899	128	3	are	be	AUX
dem-2899	128	4	ent	ent	NOUN
dem-2899	128	5	explained	explain	VERB
dem-2899	128	6	ghest	gh	ADJ
dem-2899	128	7	loadin	loadin	NOUN
dem-2899	128	8	finland	finland	NOUN
dem-2899	128	9	,	,	PUNCT
dem-2899	128	10	wh	wh	VERB
dem-2899	128	11	an	an	DET
dem-2899	128	12	impact	impact	NOUN
dem-2899	128	13	on	on	ADP
dem-2899	128	14	cted	cte	VERB
dem-2899	128	15	european	european	PROPN
dem-2899	128	16	choose	choose	VERB
dem-2899	128	17	the	the	DET
dem-2899	128	18	m	m	PROPN
dem-2899	128	19	pln	pln	PROPN
dem-2899	128	20	,	,	PUNCT
dem-2899	128	21	sek	sek	PROPN
dem-2899	128	22	/	/	SYM
dem-2899	128	23	p	p	PROPN
dem-2899	128	24	.	.	PUNCT
dem-2899	129	1	we	we	PRON
dem-2899	129	2	present	present	VERB
dem-2899	129	3	s	s	VERB
dem-2899	129	4	case	case	NOUN
dem-2899	129	5	the	the	DET
dem-2899	129	6	fir	fir	NOUN
dem-2899	129	7	s	s	VERB
dem-2899	129	8	able	able	ADJ
dem-2899	129	9	to	to	PART
dem-2899	129	10	exp	exp	VERB
dem-2899	129	11	loadings	loading	NOUN
dem-2899	129	12	ha	ha	INTJ
dem-2899	129	13	ncies	ncie	NOUN
dem-2899	129	14	.	.	PUNCT
dem-2899	130	1	ock	ock	PROPN
dem-2899	130	2	exchang	exchang	PROPN
dem-2899	130	3	heir	heir	PROPN
dem-2899	130	4	dynamic	dynamic	ADJ
dem-2899	130	5	ble	ble	NOUN
dem-2899	130	6	to	to	PART
dem-2899	130	7	explain	explain	VERB
dem-2899	130	8	d	d	NUM
dem-2899	130	9	spreads	spread	NOUN
dem-2899	130	10	are	be	AUX
dem-2899	130	11	nalyzed	nalyze	VERB
dem-2899	130	12	indic	indic	ADJ
dem-2899	130	13	ongly	ongly	PROPN
dem-2899	130	14	affecte	affecte	PROPN
dem-2899	130	15	dowska	dowska	PROPN
dem-2899	130	16	-	-	PUNCT
dem-2899	130	17	sójka	sójka	PROPN
dem-2899	130	18	6	6	NUM
dem-2899	130	19	northern	northern	ADJ
dem-2899	130	20	eur	eur	NOUN
dem-2899	130	21	presented	present	VERB
dem-2899	130	22	in	in	ADP
dem-2899	130	23	d	d	PROPN
dem-2899	130	24	only	only	ADV
dem-2899	130	25	about	about	ADP
dem-2899	130	26	ngs	ng	NOUN
dem-2899	130	27	in	in	ADP
dem-2899	130	28	the	the	DET
dem-2899	130	29	fir	fir	NOUN
dem-2899	130	30	hich	hich	PROPN
dem-2899	130	31	sugges	sugge	NOUN
dem-2899	130	32	n	n	PRON
dem-2899	130	33	the	the	DET
dem-2899	130	34	volatil	volatil	ADJ
dem-2899	130	35	countries	country	NOUN
dem-2899	130	36	most	most	ADV
dem-2899	130	37	represe	represe	PROPN
dem-2899	130	38	pln	pln	PROPN
dem-2899	130	39	as	as	ADV
dem-2899	130	40	well	well	ADV
dem-2899	130	41	t	t	X
dem-2899	131	1	the	the	DET
dem-2899	131	2	results	result	NOUN
dem-2899	131	3	rst	rst	PROPN
dem-2899	131	4	componen	componen	NOUN
dem-2899	131	5	plain	plain	NOUN
dem-2899	131	6	55	55	NUM
dem-2899	131	7	%	%	NOUN
dem-2899	131	8	of	of	ADP
dem-2899	131	9	ave	ave	PROPN
dem-2899	131	10	eur	eur	PROPN
dem-2899	131	11	/	/	SYM
dem-2899	131	12	pl	pl	PROPN
dem-2899	131	13	ge	ge	PROPN
dem-2899	131	14	indices	indice	VERB
dem-2899	131	15	:	:	PUNCT
dem-2899	131	16	c	c	PROPN
dem-2899	131	17	cs	cs	PROPN
dem-2899	131	18	at	at	ADP
dem-2899	131	19	that	that	PRON
dem-2899	131	20	tim	tim	PROPN
dem-2899	131	21	n	n	PROPN
dem-2899	131	22	already	already	ADV
dem-2899	131	23	75	75	NUM
dem-2899	131	24	e	e	NOUN
dem-2899	131	25	the	the	DET
dem-2899	131	26	most	most	ADJ
dem-2899	131	27	i	i	PRON
dem-2899	131	28	cators	cator	NOUN
dem-2899	131	29	of	of	ADP
dem-2899	131	30	da	da	PROPN
dem-2899	131	31	ed	ed	NOUN
dem-2899	131	32	by	by	ADP
dem-2899	131	33	comm	comm	NOUN
dem-2899	131	34	ropean	ropean	PROPN
dem-2899	131	35	coun	coun	PROPN
dem-2899	131	36	n	n	PRON
dem-2899	131	37	table	table	NOUN
dem-2899	131	38	3	3	NUM
dem-2899	131	39	.	.	PUNCT
dem-2899	131	40	w	w	PROPN
dem-2899	131	41	t	t	PROPN
dem-2899	131	42	40	40	NUM
dem-2899	131	43	%	%	NOUN
dem-2899	131	44	of	of	ADP
dem-2899	131	45	the	the	DET
dem-2899	131	46	rst	rst	ADJ
dem-2899	131	47	compone	compone	NOUN
dem-2899	131	48	ts	ts	ADP
dem-2899	131	49	that	that	SCONJ
dem-2899	131	50	the	the	DET
dem-2899	131	51	lity	lity	NOUN
dem-2899	131	52	of	of	ADP
dem-2899	131	53	the	the	DET
dem-2899	131	54	e	e	NOUN
dem-2899	131	55	entative	entative	ADJ
dem-2899	131	56	for	for	ADP
dem-2899	131	57	th	th	NUM
dem-2899	131	58	as	as	SCONJ
dem-2899	131	59	the	the	DET
dem-2899	131	60	pric	pric	NOUN
dem-2899	131	61	of	of	ADP
dem-2899	131	62	principal	principal	NOUN
dem-2899	131	63	nt	not	PART
dem-2899	131	64	has	have	VERB
dem-2899	131	65	much	much	ADJ
dem-2899	131	66	f	f	NOUN
dem-2899	131	67	the	the	DET
dem-2899	131	68	overall	overall	ADJ
dem-2899	131	69	ln	ln	ADJ
dem-2899	131	70	,	,	PUNCT
dem-2899	131	71	gbp	gbp	NOUN
dem-2899	131	72	/	/	SYM
dem-2899	131	73	pl	pl	X
dem-2899	131	74	cac40	cac40	PROPN
dem-2899	131	75	,	,	PUNCT
dem-2899	131	76	dax	dax	VERB
dem-2899	131	77	me	i	PRON
dem-2899	131	78	was	be	AUX
dem-2899	131	79	quite	quite	ADV
dem-2899	131	80	5	5	NUM
dem-2899	131	81	%	%	NOUN
dem-2899	131	82	of	of	ADP
dem-2899	131	83	comm	comm	NOUN
dem-2899	131	84	immune	immune	ADJ
dem-2899	131	85	to	to	ADP
dem-2899	131	86	v	v	NOUN
dem-2899	131	87	ily	ily	ADV
dem-2899	131	88	frequenc	frequenc	PROPN
dem-2899	131	89	mon	mon	PROPN
dem-2899	131	90	shocks	shock	VERB
dem-2899	131	91	tr	tr	VERB
dem-2899	131	92	ntries	ntrie	VERB
dem-2899	131	93	the	the	PRON
dem-2899	131	94	we	we	PRON
dem-2899	131	95	notice	notice	VERB
dem-2899	131	96	e	e	X
dem-2899	131	97	overall	overall	ADJ
dem-2899	131	98	ent	ent	PROPN
dem-2899	131	99	is	be	AUX
dem-2899	131	100	atcrisis	atcrisis	NOUN
dem-2899	131	101	in	in	ADP
dem-2899	131	102	european	european	PROPN
dem-2899	131	103	he	he	PRON
dem-2899	131	104	euroe	euroe	PROPN
dem-2899	131	105	of	of	ADP
dem-2899	131	106	us	us	PROPN
dem-2899	131	107	compostronger	compostronger	NOUN
dem-2899	131	108	variance	variance	NOUN
dem-2899	131	109	ln	ln	ADJ
dem-2899	131	110	and	and	CCONJ
dem-2899	131	111	x	x	PROPN
dem-2899	131	112	,	,	PUNCT
dem-2899	131	113	bux	bux	PROPN
dem-2899	131	114	e	e	PROPN
dem-2899	131	115	similar	similar	ADJ
dem-2899	131	116	,	,	PUNCT
dem-2899	131	117	mon	mon	PROPN
dem-2899	131	118	varivolatility	varivolatility	PROPN
dem-2899	131	119	cy	cy	PROPN
dem-2899	131	120	,	,	PUNCT
dem-2899	131	121	while	while	SCONJ
dem-2899	131	122	ransmise	ransmise	NOUN
dem-2899	131	123	figure	figure	VERB
dem-2899	131	124	7	7	NUM
dem-2899	131	125	afte	afte	NOUN
dem-2899	131	126	we	we	PRON
dem-2899	131	127	run	run	VERB
dem-2899	131	128	in	in	ADP
dem-2899	131	129	the	the	DET
dem-2899	131	130	f	f	PROPN
dem-2899	131	131	plained	plain	VERB
dem-2899	131	132	we	we	PRON
dem-2899	131	133	add	add	VERB
dem-2899	131	134	we	we	PRON
dem-2899	131	135	add	add	VERB
dem-2899	131	136	subsecti	subsecti	ADJ
dem-2899	131	137	embedd	embedd	PROPN
dem-2899	131	138	the	the	DET
dem-2899	131	139	mod	mod	PROPN
dem-2899	131	140	assumin	assumin	NOUN
dem-2899	131	141	the	the	DET
dem-2899	131	142	sam	sam	PROPN
dem-2899	131	143	case	case	NOUN
dem-2899	131	144	of	of	ADP
dem-2899	131	145	ables	able	NOUN
dem-2899	131	146	in	in	ADP
dem-2899	131	147	first	first	ADJ
dem-2899	131	148	pri	pri	NOUN
dem-2899	131	149	equation	equation	NOUN
dem-2899	131	150	tility	tility	NOUN
dem-2899	131	151	eq	eq	ADP
dem-2899	131	152	lagged	lag	VERB
dem-2899	131	153	between	between	ADP
dem-2899	131	154	compare	compare	NOUN
dem-2899	131	155	formatio	formatio	VERB
dem-2899	131	156	els	el	NOUN
dem-2899	131	157	with	with	ADP
dem-2899	131	158	that	that	SCONJ
dem-2899	131	159	the	the	DET
dem-2899	131	160	economic	economic	ADJ
dem-2899	131	161	situa	situa	NOUN
dem-2899	131	162	.	.	PUNCT
dem-2899	132	1	exchange	exchange	NOUN
dem-2899	132	2	sek	sek	PROPN
dem-2899	132	3	/	/	SYM
dem-2899	132	4	pln	pln	PROPN
dem-2899	132	5	an	an	DET
dem-2899	132	6	er	er	INTJ
dem-2899	132	7	computing	compute	VERB
dem-2899	132	8	the	the	DET
dem-2899	132	9	series	series	NOUN
dem-2899	132	10	of	of	ADP
dem-2899	132	11	first	first	ADJ
dem-2899	132	12	model	model	NOUN
dem-2899	132	13	w	w	NOUN
dem-2899	132	14	by	by	ADP
dem-2899	132	15	the	the	DET
dem-2899	132	16	histor	histor	NOUN
dem-2899	132	17	the	the	DET
dem-2899	132	18	pc1s	pc1s	PROPN
dem-2899	132	19	as	as	ADP
dem-2899	132	20	the	the	DET
dem-2899	132	21	explana	explana	ADJ
dem-2899	132	22	ion	ion	NOUN
dem-2899	132	23	(	(	PUNCT
dem-2899	132	24	model	model	NOUN
dem-2899	132	25	ded	de	VERB
dem-2899	132	26	.	.	PUNCT
dem-2899	133	1	the	the	DET
dem-2899	133	2	resu	resu	PROPN
dem-2899	133	3	dels	del	NOUN
dem-2899	133	4	are	be	AUX
dem-2899	133	5	esti	esti	PROPN
dem-2899	133	6	ng	ng	PROPN
dem-2899	133	7	that	that	SCONJ
dem-2899	133	8	the	the	DET
dem-2899	133	9	ω	ω	PROPN
dem-2899	133	10	mple	mple	PROPN
dem-2899	133	11	.	.	PUNCT
dem-2899	134	1	in	in	ADP
dem-2899	134	2	all	all	DET
dem-2899	134	3	c	c	VERB
dem-2899	134	4	the	the	DET
dem-2899	134	5	conditio	conditio	NOUN
dem-2899	134	6	n	n	CCONJ
dem-2899	134	7	the	the	DET
dem-2899	134	8	form	form	NOUN
dem-2899	134	9	of	of	ADP
dem-2899	134	10	incipal	incipal	ADJ
dem-2899	134	11	comp	comp	NOUN
dem-2899	135	1	n	n	CCONJ
dem-2899	135	2	at	at	ADP
dem-2899	135	3	their	their	PRON
dem-2899	135	4	cur	cur	ADJ
dem-2899	135	5	quation	quation	NOUN
dem-2899	135	6	are	be	AUX
dem-2899	135	7	th	th	X
dem-2899	135	8	changes	change	NOUN
dem-2899	135	9	of	of	ADP
dem-2899	135	10	n	n	PRON
dem-2899	135	11	the	the	DET
dem-2899	135	12	scds	scds	NOUN
dem-2899	135	13	c	c	PROPN
dem-2899	135	14	e	e	NOUN
dem-2899	135	15	the	the	DET
dem-2899	135	16	models	model	NOUN
dem-2899	135	17	on	on	ADP
dem-2899	135	18	criteria	criterion	NOUN
dem-2899	135	19	.	.	PUNCT
dem-2899	136	1	w	w	NOUN
dem-2899	136	2	h	h	NOUN
dem-2899	136	3	lower	low	ADJ
dem-2899	136	4	numb	numb	ADJ
dem-2899	136	5	explanatory	explanatory	ADJ
dem-2899	136	6	ation	ation	NOUN
dem-2899	136	7	of	of	ADP
dem-2899	136	8	the	the	DET
dem-2899	136	9	cou	cou	NOUN
dem-2899	136	10	rates	rate	NOUN
dem-2899	136	11	of	of	ADP
dem-2899	136	12	cu	cu	PROPN
dem-2899	136	13	nd	nd	ADV
dem-2899	136	14	usd	usd	PROPN
dem-2899	136	15	/	/	SYM
dem-2899	136	16	pln	pln	PROPN
dem-2899	136	17	g	g	PROPN
dem-2899	136	18	the	the	DET
dem-2899	136	19	first	first	ADJ
dem-2899	136	20	pri	pri	PROPN
dem-2899	136	21	f	f	PROPN
dem-2899	136	22	arma	arma	PROPN
dem-2899	136	23	-	-	PUNCT
dem-2899	136	24	ga	ga	NOUN
dem-2899	137	1	we	we	PRON
dem-2899	137	2	assume	assume	VERB
dem-2899	137	3	t	t	PROPN
dem-2899	137	4	rical	rical	ADJ
dem-2899	137	5	values	value	NOUN
dem-2899	138	1	o	o	X
dem-2899	138	2	s	s	VERB
dem-2899	138	3	the	the	DET
dem-2899	138	4	explana	explana	ADJ
dem-2899	138	5	atory	atory	NOUN
dem-2899	138	6	variab	variab	NOUN
dem-2899	138	7	2	2	NUM
dem-2899	138	8	)	)	PUNCT
dem-2899	138	9	.	.	PUNCT
dem-2899	139	1	in	in	ADP
dem-2899	139	2	the	the	DET
dem-2899	139	3	th	th	X
dem-2899	139	4	ults	ult	NOUN
dem-2899	139	5	of	of	ADP
dem-2899	139	6	the	the	DET
dem-2899	139	7	es	es	NOUN
dem-2899	139	8	imated	imate	VERB
dem-2899	139	9	via	via	ADP
dem-2899	139	10	th	th	PROPN
dem-2899	139	11	(	(	PUNCT
dem-2899	139	12	see	see	VERB
dem-2899	139	13	equatio	equatio	NOUN
dem-2899	139	14	cases	case	NOUN
dem-2899	139	15	the	the	DET
dem-2899	139	16	val	val	ADJ
dem-2899	139	17	onal	onal	ADJ
dem-2899	139	18	mean	mean	NOUN
dem-2899	139	19	eq	eq	PROPN
dem-2899	139	20	f	f	PROPN
dem-2899	139	21	lagged	lag	VERB
dem-2899	139	22	retur	retur	VERB
dem-2899	139	23	ponent	ponent	NOUN
dem-2899	139	24	of	of	ADP
dem-2899	139	25	bo	bo	PROPN
dem-2899	139	26	rrent	rrent	NOUN
dem-2899	139	27	values	value	NOUN
dem-2899	139	28	)	)	PUNCT
dem-2899	139	29	he	he	PRON
dem-2899	139	30	squared	square	VERB
dem-2899	139	31	l	l	NOUN
dem-2899	139	32	bond	bond	NOUN
dem-2899	139	33	spread	spread	VERB
dem-2899	139	34	changes	change	NOUN
dem-2899	139	35	and	and	CCONJ
dem-2899	139	36	b	b	NOUN
dem-2899	139	37	s	s	X
dem-2899	139	38	on	on	ADP
dem-2899	139	39	the	the	DET
dem-2899	139	40	bas	bas	NOUN
dem-2899	139	41	we	we	PRON
dem-2899	139	42	follow	follow	VERB
dem-2899	139	43	th	th	X
dem-2899	139	44	ber	ber	PROPN
dem-2899	139	45	of	of	ADP
dem-2899	139	46	explan	explan	PROPN
dem-2899	139	47	variables	variables	PROPN
dem-2899	139	48	ar	ar	PROPN
dem-2899	139	49	untry	untry	NOUN
dem-2899	139	50	or	or	CCONJ
dem-2899	139	51	risk	risk	NOUN
dem-2899	139	52	in	in	ADP
dem-2899	139	53	dynamic	dynamic	ADJ
dem-2899	139	54	eco	eco	NOUN
dem-2899	139	55	urrencies	urrencie	NOUN
dem-2899	139	56	:	:	PUNCT
dem-2899	139	57	e	e	NOUN
dem-2899	139	58	n	n	CCONJ
dem-2899	139	59	incipal	incipal	ADJ
dem-2899	139	60	comp	comp	NOUN
dem-2899	139	61	arch	arch	NOUN
dem-2899	139	62	mode	mode	NOUN
dem-2899	139	63	that	that	PRON
dem-2899	139	64	changes	change	NOUN
dem-2899	139	65	of	of	ADP
dem-2899	139	66	the	the	DET
dem-2899	139	67	spread	spread	ADJ
dem-2899	139	68	atory	atory	PROPN
dem-2899	139	69	variabl	variabl	NOUN
dem-2899	139	70	les	le	NOUN
dem-2899	139	71	used	use	VERB
dem-2899	139	72	in	in	ADP
dem-2899	139	73	hird	hird	NOUN
dem-2899	139	74	model	model	NOUN
dem-2899	139	75	(	(	PUNCT
dem-2899	139	76	timation	timation	NOUN
dem-2899	139	77	are	be	AUX
dem-2899	139	78	he	he	PRON
dem-2899	139	79	so	so	ADV
dem-2899	139	80	called	call	VERB
dem-2899	139	81	on	on	ADP
dem-2899	139	82	1	1	NUM
dem-2899	139	83	)	)	PUNCT
dem-2899	139	84	is	be	AUX
dem-2899	139	85	equal	equal	ADJ
dem-2899	139	86	lues	lue	NOUN
dem-2899	139	87	of	of	ADP
dem-2899	139	88	this	this	DET
dem-2899	139	89	p	p	ADJ
dem-2899	139	90	quation	quation	NOUN
dem-2899	139	91	,	,	PUNCT
dem-2899	139	92	we	we	PRON
dem-2899	139	93	rns	rn	VERB
dem-2899	139	94	(	(	PUNCT
dem-2899	139	95	the	the	DET
dem-2899	139	96	exce	exce	NOUN
dem-2899	139	97	ond	ond	NOUN
dem-2899	139	98	spreads	spread	NOUN
dem-2899	139	99	,	,	PUNCT
dem-2899	139	100	while	while	SCONJ
dem-2899	139	101	the	the	DET
dem-2899	139	102	e	e	NOUN
dem-2899	139	103	lagged	lag	VERB
dem-2899	139	104	return	return	NOUN
dem-2899	139	105	d	d	NOUN
dem-2899	139	106	,	,	PUNCT
dem-2899	139	107	however	however	ADV
dem-2899	139	108	i	i	PRON
dem-2899	139	109	bonds	bond	VERB
dem-2899	139	110	’	'	PUNCT
dem-2899	139	111	sprea	sprea	PROPN
dem-2899	139	112	sis	sis	NOUN
dem-2899	139	113	of	of	ADP
dem-2899	139	114	the	the	DET
dem-2899	139	115	log	log	NOUN
dem-2899	139	116	he	he	PRON
dem-2899	139	117	schwarz	schwarz	PROPN
dem-2899	139	118	cr	cr	PROPN
dem-2899	139	119	natory	natory	PROPN
dem-2899	139	120	variab	variab	NOUN
dem-2899	139	121	re	re	VERB
dem-2899	139	122	not	not	PART
dem-2899	139	123	redund	redund	VERB
dem-2899	139	124	the	the	DET
dem-2899	139	125	world	world	PROPN
dem-2899	139	126	fina	fina	PROPN
dem-2899	139	127	onometric	onometric	PROPN
dem-2899	139	128	mo	mo	PROPN
dem-2899	139	129	ur	ur	PROPN
dem-2899	139	130	/	/	SYM
dem-2899	139	131	pln	pln	PROPN
dem-2899	139	132	,	,	PUNCT
dem-2899	139	133	g	g	NOUN
dem-2899	139	134	ponents	ponent	NOUN
dem-2899	139	135	of	of	ADP
dem-2899	139	136	ea	ea	NOUN
dem-2899	139	137	els	el	NOUN
dem-2899	139	138	(	(	PUNCT
dem-2899	139	139	see	see	VERB
dem-2899	139	140	mod	mod	NOUN
dem-2899	139	141	of	of	ADP
dem-2899	139	142	polish	polish	PROPN
dem-2899	139	143	s	s	PART
dem-2899	139	144	d	d	NOUN
dem-2899	139	145	only	only	ADV
dem-2899	139	146	(	(	PUNCT
dem-2899	139	147	mode	mode	NOUN
dem-2899	139	148	es	es	PROPN
dem-2899	139	149	(	(	PUNCT
dem-2899	139	150	model	model	NOUN
dem-2899	139	151	1	1	NUM
dem-2899	139	152	var	var	NOUN
dem-2899	139	153	mode	mode	NOUN
dem-2899	139	154	(	(	PUNCT
dem-2899	139	155	model	model	NOUN
dem-2899	139	156	3	3	NUM
dem-2899	139	157	)	)	PUNCT
dem-2899	139	158	th	th	NOUN
dem-2899	139	159	presented	present	VERB
dem-2899	139	160	in	in	ADP
dem-2899	139	161	d	d	PROPN
dem-2899	139	162	variance	variance	NOUN
dem-2899	139	163	-	-	PUNCT
dem-2899	139	164	ta	ta	ADP
dem-2899	139	165	l	l	NOUN
dem-2899	139	166	to	to	ADP
dem-2899	139	167	the	the	DET
dem-2899	139	168	unco	unco	PROPN
dem-2899	139	169	parameter	parameter	PROPN
dem-2899	139	170	ar	ar	PROPN
dem-2899	139	171	introduced	introduce	VERB
dem-2899	139	172	t	t	PROPN
dem-2899	139	173	eption	eption	NOUN
dem-2899	139	174	is	be	AUX
dem-2899	139	175	the	the	PRON
dem-2899	139	176	,	,	PUNCT
dem-2899	139	177	which	which	PRON
dem-2899	139	178	are	be	AUX
dem-2899	139	179	explanatory	explanatory	ADJ
dem-2899	139	180	v	v	ADP
dem-2899	139	181	ns	ns	NUM
dem-2899	139	182	.	.	PUNCT
dem-2899	140	1	in	in	ADP
dem-2899	140	2	the	the	DET
dem-2899	140	3	fir	fir	NOUN
dem-2899	140	4	it	it	PRON
dem-2899	140	5	appeared	appear	VERB
dem-2899	140	6	ad	ad	NOUN
dem-2899	140	7	changes	change	NOUN
dem-2899	140	8	ar	ar	VERB
dem-2899	140	9	g	g	NOUN
dem-2899	140	10	-	-	PUNCT
dem-2899	140	11	likelihood	likelihood	NOUN
dem-2899	140	12	riterion	riterion	NOUN
dem-2899	140	13	,	,	PUNCT
dem-2899	140	14	sinc	sinc	PROPN
dem-2899	140	15	bles	bles	PROPN
dem-2899	140	16	and	and	CCONJ
dem-2899	140	17	hen	hen	ADJ
dem-2899	140	18	dant	dant	PROPN
dem-2899	140	19	.	.	PUNCT
dem-2899	141	1	ancial	ancial	ADJ
dem-2899	141	2	market	market	NOUN
dem-2899	141	3	?	?	PUNCT
dem-2899	141	4	.	.	PUNCT
dem-2899	142	1	dels	del	NOUN
dem-2899	142	2	13	13	NUM
dem-2899	142	3	(	(	PUNCT
dem-2899	142	4	2013	2013	NUM
dem-2899	142	5	gbp	gbp	PROPN
dem-2899	142	6	/	/	SYM
dem-2899	142	7	pln	pln	PROPN
dem-2899	142	8	,	,	PUNCT
dem-2899	142	9	h	h	PROPN
dem-2899	142	10	ach	ach	PROPN
dem-2899	142	11	group	group	NOUN
dem-2899	142	12	of	of	ADP
dem-2899	142	13	del	del	PROPN
dem-2899	142	14	(	(	PUNCT
dem-2899	142	15	1	1	NUM
dem-2899	142	16	)	)	PUNCT
dem-2899	142	17	in	in	ADP
dem-2899	142	18	ap	ap	PROPN
dem-2899	142	19	cds	cd	NOUN
dem-2899	142	20	are	be	AUX
dem-2899	142	21	can	can	AUX
dem-2899	142	22	el	el	PROPN
dem-2899	142	23	0	0	NUM
dem-2899	142	24	)	)	PUNCT
dem-2899	142	25	.	.	PUNCT
dem-2899	143	1	in	in	ADP
dem-2899	143	2	the	the	DET
dem-2899	143	3	n	n	NOUN
dem-2899	143	4	)	)	PUNCT
dem-2899	143	5	.	.	PUNCT
dem-2899	144	1	in	in	ADP
dem-2899	144	2	the	the	DET
dem-2899	144	3	thir	thir	PROPN
dem-2899	144	4	el	el	PROPN
dem-2899	144	5	from	from	ADP
dem-2899	144	6	the	the	DET
dem-2899	144	7	p	p	NOUN
dem-2899	144	8	he	he	PRON
dem-2899	144	9	previous	previous	ADJ
dem-2899	144	10	n	n	PRON
dem-2899	144	11	table	table	NOUN
dem-2899	144	12	6	6	NUM
dem-2899	144	13	.	.	PUNCT
dem-2899	144	14	in	in	ADP
dem-2899	144	15	argeting	argeting	NOUN
dem-2899	144	16	met	meet	VERB
dem-2899	144	17	nditional	nditional	ADJ
dem-2899	144	18	var	var	NOUN
dem-2899	144	19	re	re	ADP
dem-2899	144	20	very	very	ADV
dem-2899	144	21	smal	smal	VERB
dem-2899	144	22	the	the	DET
dem-2899	144	23	explanato	explanato	PROPN
dem-2899	144	24	bond	bond	NOUN
dem-2899	144	25	spread	spread	VERB
dem-2899	144	26	introduced	introduce	VERB
dem-2899	144	27	variables	variable	NOUN
dem-2899	144	28	in	in	ADP
dem-2899	144	29	t	t	NOUN
dem-2899	144	30	rst	rst	NOUN
dem-2899	144	31	step	step	NOUN
dem-2899	144	32	we	we	PRON
dem-2899	144	33	u	u	VERB
dem-2899	144	34	that	that	SCONJ
dem-2899	144	35	the	the	DET
dem-2899	144	36	inte	inte	NOUN
dem-2899	144	37	re	re	X
dem-2899	144	38	instantane	instantane	PROPN
dem-2899	144	39	function	function	NOUN
dem-2899	144	40	and	and	CCONJ
dem-2899	144	41	ce	ce	PROPN
dem-2899	144	42	it	it	PRON
dem-2899	144	43	prefers	prefer	VERB
dem-2899	144	44	t	t	PROPN
dem-2899	144	45	nce	nce	NOUN
dem-2899	144	46	we	we	PRON
dem-2899	144	47	could	could	AUX
dem-2899	144	48	...	...	PUNCT
dem-2899	145	1	3	3	X
dem-2899	145	2	)	)	PUNCT
dem-2899	145	3	87–106	87–106	NUM
dem-2899	145	4	95	95	NUM
dem-2899	145	5	huf	huf	PROPN
dem-2899	145	6	/	/	SYM
dem-2899	145	7	pln	pln	PROPN
dem-2899	145	8	,	,	PUNCT
dem-2899	145	9	f	f	PROPN
dem-2899	145	10	factors	factor	NOUN
dem-2899	145	11	,	,	PUNCT
dem-2899	145	12	ppendix	ppendix	NOUN
dem-2899	145	13	)	)	PUNCT
dem-2899	145	14	.	.	PUNCT
dem-2899	146	1	n	n	PRON
dem-2899	146	2	be	be	AUX
dem-2899	146	3	exnext	exnext	ADJ
dem-2899	146	4	one	one	NUM
dem-2899	146	5	,	,	PUNCT
dem-2899	146	6	rd	rd	NOUN
dem-2899	146	7	model	model	NOUN
dem-2899	146	8	previous	previous	ADJ
dem-2899	146	9	two	two	NUM
dem-2899	146	10	are	be	AUX
dem-2899	146	11	all	all	DET
dem-2899	146	12	cases	case	NOUN
dem-2899	146	13	thod	thod	ADJ
dem-2899	146	14	,	,	PUNCT
dem-2899	146	15	i.e.	i.e.	X
dem-2899	146	16	riance	riance	NOUN
dem-2899	146	17	of	of	ADP
dem-2899	146	18	ll	ll	PRON
dem-2899	146	19	.	.	PUNCT
dem-2899	147	1	in	in	ADP
dem-2899	147	2	the	the	DET
dem-2899	147	3	ory	ory	NOUN
dem-2899	147	4	varid	varid	NOUN
dem-2899	147	5	and	and	CCONJ
dem-2899	147	6	the	the	PRON
dem-2899	147	7	into	into	ADP
dem-2899	147	8	the	the	DET
dem-2899	147	9	the	the	DET
dem-2899	147	10	volaused	volause	VERB
dem-2899	147	11	also	also	ADV
dem-2899	147	12	eractions	eraction	NOUN
dem-2899	147	13	eous	eous	ADJ
dem-2899	147	14	.	.	PUNCT
dem-2899	148	1	we	we	PRON
dem-2899	148	2	d	d	VERB
dem-2899	148	3	the	the	DET
dem-2899	148	4	inthe	inthe	DET
dem-2899	148	5	modd	modd	NOUN
dem-2899	148	6	be	be	AUX
dem-2899	148	7	sure	sure	ADJ
dem-2899	148	8	dynamic	dynamic	ADJ
dem-2899	148	9	96	96	NUM
dem-2899	148	10	figure	figure	NOUN
dem-2899	148	11	8	8	NUM
dem-2899	148	12	the	the	DET
dem-2899	148	13	terion	terion	NOUN
dem-2899	148	14	)	)	PUNCT
dem-2899	149	1	i	i	PRON
dem-2899	149	2	by	by	ADP
dem-2899	149	3	princ	princ	NOUN
dem-2899	149	4	change	change	NOUN
dem-2899	149	5	spreads	spread	NOUN
dem-2899	149	6	spread	spread	NOUN
dem-2899	149	7	.	.	PUNCT
dem-2899	150	1	exchang	exchang	PROPN
dem-2899	150	2	change	change	VERB
dem-2899	150	3	nificant	nificant	PROPN
dem-2899	150	4	expect	expect	VERB
dem-2899	150	5	t	t	PROPN
dem-2899	150	6	the	the	DET
dem-2899	150	7	usd	usd	NOUN
dem-2899	150	8	pc1	pc1	NOUN
dem-2899	150	9	-	-	PUNCT
dem-2899	150	10	exc	exc	NOUN
dem-2899	150	11	we	we	PRON
dem-2899	150	12	pal	pal	NOUN
dem-2899	150	13	com	com	NOUN
dem-2899	150	14	thus	thus	ADV
dem-2899	150	15	,	,	PUNCT
dem-2899	150	16	in	in	ADP
dem-2899	150	17	need	need	NOUN
dem-2899	150	18	an	an	DET
dem-2899	150	19	drives	drive	NOUN
dem-2899	150	20	t	t	X
dem-2899	150	21	europea	europea	PROPN
dem-2899	150	22	3	3	NUM
dem-2899	150	23	.	.	PUNCT
dem-2899	150	24	imp	imp	VERB
dem-2899	150	25	the	the	DET
dem-2899	150	26	differen	differen	PROPN
dem-2899	150	27	market	market	PROPN
dem-2899	150	28	econometric	econometric	PROPN
dem-2899	150	29	.	.	PUNCT
dem-2899	151	1	stock	stock	NOUN
dem-2899	151	2	excha	excha	PROPN
dem-2899	151	3	axis	axis	NOUN
dem-2899	151	4	)	)	PUNCT
dem-2899	152	1	e	e	X
dem-2899	152	2	best	good	ADJ
dem-2899	152	3	model	model	NOUN
dem-2899	152	4	is	be	AUX
dem-2899	152	5	the	the	DET
dem-2899	152	6	most	most	ADV
dem-2899	152	7	g	g	NOUN
dem-2899	152	8	cipal	cipal	NOUN
dem-2899	152	9	compon	compon	ADP
dem-2899	152	10	s	s	PROPN
dem-2899	152	11	of	of	ADP
dem-2899	152	12	the	the	DET
dem-2899	152	13	spre	spre	NOUN
dem-2899	152	14	of	of	ADP
dem-2899	152	15	the	the	DET
dem-2899	152	16	neigh	neigh	ADJ
dem-2899	152	17	additional	additional	NOUN
dem-2899	152	18	s	s	PART
dem-2899	152	19	ge	ge	PROPN
dem-2899	152	20	rates	rate	NOUN
dem-2899	152	21	and	and	CCONJ
dem-2899	152	22	rate	rate	NOUN
dem-2899	152	23	.	.	PUNCT
dem-2899	153	1	in	in	ADP
dem-2899	153	2	the	the	DET
dem-2899	153	3	t	t	PROPN
dem-2899	153	4	variable	variable	NOUN
dem-2899	153	5	is	be	AUX
dem-2899	153	6	the	the	DET
dem-2899	153	7	special	special	ADJ
dem-2899	153	8	r	r	NOUN
dem-2899	153	9	d	d	PROPN
dem-2899	153	10	/	/	SYM
dem-2899	153	11	pln	pln	PROPN
dem-2899	153	12	rate	rate	NOUN
dem-2899	153	13	i	i	PRON
dem-2899	153	14	change	change	NOUN
dem-2899	153	15	-	-	PUNCT
dem-2899	153	16	rate	rate	NOUN
dem-2899	153	17	would	would	AUX
dem-2899	153	18	like	like	VERB
dem-2899	153	19	t	t	PROPN
dem-2899	153	20	mponents	mponent	NOUN
dem-2899	153	21	outp	outp	ADV
dem-2899	153	22	n	n	DET
dem-2899	153	23	order	order	NOUN
dem-2899	153	24	to	to	PART
dem-2899	153	25	exp	exp	VERB
dem-2899	153	26	ny	ny	PROPN
dem-2899	153	27	variables	variable	NOUN
dem-2899	153	28	r	r	VERB
dem-2899	153	29	the	the	DET
dem-2899	153	30	dynamic	dynamic	ADJ
dem-2899	153	31	an	an	DET
dem-2899	153	32	countries	country	NOUN
dem-2899	153	33	,	,	PUNCT
dem-2899	153	34	act	act	NOUN
dem-2899	153	35	of	of	ADP
dem-2899	153	36	the	the	DET
dem-2899	153	37	a	a	DET
dem-2899	153	38	e	e	NOUN
dem-2899	153	39	literature	literature	NOUN
dem-2899	153	40	o	o	X
dem-2899	153	41	nt	not	PART
dem-2899	153	42	financial	financial	ADJ
dem-2899	153	43	in	in	ADP
dem-2899	153	44	(	(	PUNCT
dem-2899	153	45	see	see	VERB
dem-2899	153	46	e.g.	e.g.	ADV
dem-2899	153	47	ed	ed	PROPN
dem-2899	153	48	agata	agata	PROPN
dem-2899	153	49	klibe	klibe	PROPN
dem-2899	153	50	c	c	PROPN
dem-2899	153	51	models	model	NOUN
dem-2899	153	52	13	13	NUM
dem-2899	153	53	(	(	PUNCT
dem-2899	153	54	2	2	NUM
dem-2899	153	55	ange	ange	NOUN
dem-2899	153	56	indices	index	NOUN
dem-2899	153	57	:	:	PUNCT
dem-2899	153	58	(	(	PUNCT
dem-2899	153	59	taking	take	VERB
dem-2899	153	60	into	into	ADP
dem-2899	153	61	general	general	ADJ
dem-2899	153	62	one	one	NUM
dem-2899	153	63	–	–	PUNCT
dem-2899	153	64	nents	nent	NOUN
dem-2899	153	65	)	)	PUNCT
dem-2899	153	66	and	and	CCONJ
dem-2899	153	67	in	in	ADP
dem-2899	153	68	ead	ead	PROPN
dem-2899	153	69	can	can	AUX
dem-2899	153	70	be	be	AUX
dem-2899	153	71	th	th	X
dem-2899	153	72	hbour	hbour	NOUN
dem-2899	153	73	countr	countr	PROPN
dem-2899	153	74	significant	significant	ADJ
dem-2899	154	1	ex	ex	X
dem-2899	154	2	d	d	PROPN
dem-2899	154	3	stock	stock	PROPN
dem-2899	154	4	exch	exch	PROPN
dem-2899	154	5	case	case	NOUN
dem-2899	154	6	of	of	ADP
dem-2899	154	7	the	the	DET
dem-2899	154	8	the	the	DET
dem-2899	154	9	lagged	lag	VERB
dem-2899	154	10	s	s	PART
dem-2899	154	11	role	role	NOUN
dem-2899	154	12	of	of	ADP
dem-2899	154	13	us	we	PRON
dem-2899	154	14	ec	ec	PROPN
dem-2899	154	15	s	s	VERB
dem-2899	154	16	present	present	ADJ
dem-2899	154	17	in	in	ADP
dem-2899	154	18	t	t	PROPN
dem-2899	154	19	component	component	NOUN
dem-2899	154	20	,	,	PUNCT
dem-2899	154	21	to	to	PART
dem-2899	154	22	stress	stress	VERB
dem-2899	154	23	the	the	DET
dem-2899	154	24	performed	perform	VERB
dem-2899	154	25	th	th	PRON
dem-2899	154	26	plain	plain	ADV
dem-2899	154	27	the	the	DET
dem-2899	154	28	dyn	dyn	NOUN
dem-2899	154	29	representing	represent	VERB
dem-2899	154	30	cs	c	NOUN
dem-2899	154	31	of	of	ADP
dem-2899	154	32	this	this	DET
dem-2899	154	33	ris	ris	NOUN
dem-2899	154	34	,	,	PUNCT
dem-2899	154	35	as	as	ADV
dem-2899	154	36	well	well	ADV
dem-2899	154	37	as	as	ADP
dem-2899	154	38	th	th	X
dem-2899	154	39	announcem	announcem	NOUN
dem-2899	154	40	on	on	ADP
dem-2899	154	41	the	the	DET
dem-2899	154	42	effect	effect	NOUN
dem-2899	154	43	nstruments	nstrument	NOUN
dem-2899	154	44	is	be	AUX
dem-2899	154	45	erington	erington	NOUN
dem-2899	154	46	,	,	PUNCT
dem-2899	154	47	le	le	X
dem-2899	154	48	er	er	INTJ
dem-2899	154	49	,	,	PUNCT
dem-2899	154	50	barbara	barbara	PROPN
dem-2899	154	51	będ	będ	PROPN
dem-2899	154	52	2013	2013	NUM
dem-2899	154	53	)	)	PUNCT
dem-2899	155	1	87–106	87–106	PROPN
dem-2899	155	2	cac	cac	PROPN
dem-2899	155	3	,	,	PUNCT
dem-2899	155	4	dax	dax	PROPN
dem-2899	155	5	,	,	PUNCT
dem-2899	155	6	account	account	VERB
dem-2899	155	7	the	the	PRON
dem-2899	155	8	–	–	PUNCT
dem-2899	155	9	it	it	PRON
dem-2899	155	10	includes	include	VERB
dem-2899	155	11	ndicators	ndicator	NOUN
dem-2899	155	12	of	of	ADP
dem-2899	155	13	t	t	PROPN
dem-2899	155	14	hus	hu	NOUN
dem-2899	155	15	explaine	explaine	VERB
dem-2899	155	16	ries	rie	NOUN
dem-2899	155	17	,	,	PUNCT
dem-2899	155	18	as	as	ADV
dem-2899	155	19	well	well	ADV
dem-2899	155	20	xplanatory	xplanatory	PROPN
dem-2899	155	21	v	v	PROPN
dem-2899	155	22	hange	hange	PROPN
dem-2899	155	23	indices	index	NOUN
dem-2899	155	24	conditional	conditional	ADJ
dem-2899	155	25	squared	square	VERB
dem-2899	155	26	valu	valu	PROPN
dem-2899	155	27	conomy	conomy	NOUN
dem-2899	155	28	on	on	ADP
dem-2899	155	29	t	t	PROPN
dem-2899	155	30	the	the	DET
dem-2899	155	31	explanato	explanato	NOUN
dem-2899	155	32	and	and	CCONJ
dem-2899	155	33	as	as	ADP
dem-2899	155	34	the	the	DET
dem-2899	155	35	u	u	NOUN
dem-2899	155	36	fact	fact	NOUN
dem-2899	155	37	that	that	SCONJ
dem-2899	155	38	the	the	DET
dem-2899	155	39	he	he	PROPN
dem-2899	155	40	model	model	PROPN
dem-2899	155	41	inc	inc	PROPN
dem-2899	155	42	namics	namics	PROPN
dem-2899	155	43	of	of	ADP
dem-2899	155	44	the	the	DET
dem-2899	155	45	the	the	DET
dem-2899	155	46	econom	econom	PROPN
dem-2899	155	47	sk	sk	ADP
dem-2899	155	48	indicator	indicator	NOUN
dem-2899	155	49	he	he	PRON
dem-2899	155	50	risk	risk	VERB
dem-2899	155	51	of	of	ADP
dem-2899	155	52	am	be	AUX
dem-2899	155	53	ments	ment	NOUN
dem-2899	155	54	from	from	ADP
dem-2899	155	55	of	of	ADP
dem-2899	155	56	macro	macro	ADJ
dem-2899	155	57	n	n	X
dem-2899	155	58	s	s	VERB
dem-2899	155	59	huge	huge	ADJ
dem-2899	155	60	and	and	CCONJ
dem-2899	155	61	in	in	ADP
dem-2899	155	62	ee	ee	PROPN
dem-2899	155	63	,	,	PUNCT
dem-2899	155	64	1993	1993	NUM
dem-2899	155	65	)	)	PUNCT
dem-2899	155	66	,	,	PUNCT
dem-2899	155	67	for	for	ADP
dem-2899	155	68	dowska	dowska	NOUN
dem-2899	155	69	-	-	PUNCT
dem-2899	155	70	sójka	sójka	ADJ
dem-2899	155	71	6	6	NUM
dem-2899	155	72	s&p	s&p	PROPN
dem-2899	155	73	(	(	PUNCT
dem-2899	155	74	main	main	ADJ
dem-2899	155	75	ax	ax	NOUN
dem-2899	155	76	e	e	X
dem-2899	155	77	log	log	NOUN
dem-2899	155	78	-	-	PUNCT
dem-2899	155	79	likeliho	likeliho	NOUN
dem-2899	155	80	both	both	CCONJ
dem-2899	155	81	the	the	DET
dem-2899	155	82	env	env	NOUN
dem-2899	155	83	the	the	DET
dem-2899	155	84	country	country	NOUN
dem-2899	155	85	‘	'	PUNCT
dem-2899	155	86	ed	ed	NOUN
dem-2899	155	87	by	by	ADP
dem-2899	155	88	the	the	DET
dem-2899	155	89	cur	cur	PROPN
dem-2899	155	90	as	as	SCONJ
dem-2899	155	91	the	the	DET
dem-2899	155	92	chang	chang	PROPN
dem-2899	155	93	variables	variable	NOUN
dem-2899	155	94	are	be	AUX
dem-2899	155	95	s	s	PROPN
dem-2899	155	96	,	,	PUNCT
dem-2899	155	97	as	as	ADV
dem-2899	155	98	well	well	ADV
dem-2899	155	99	as	as	ADP
dem-2899	155	100	variance	variance	NOUN
dem-2899	155	101	equ	equ	PROPN
dem-2899	155	102	ue	ue	PROPN
dem-2899	155	103	of	of	ADP
dem-2899	155	104	wig	wig	NOUN
dem-2899	155	105	r	r	NOUN
dem-2899	155	106	the	the	DET
dem-2899	155	107	risk	risk	NOUN
dem-2899	155	108	perc	perc	NOUN
dem-2899	155	109	ory	ory	NOUN
dem-2899	155	110	variables	variable	NOUN
dem-2899	155	111	usd	usd	PROPN
dem-2899	155	112	/	/	SYM
dem-2899	155	113	pln	pln	PROPN
dem-2899	155	114	exc	exc	PROPN
dem-2899	155	115	model	model	NOUN
dem-2899	155	116	inclu	inclu	ADV
dem-2899	155	117	cluding	clude	VERB
dem-2899	155	118	the	the	DET
dem-2899	155	119	“	"	PUNCT
dem-2899	155	120	e	e	X
dem-2899	155	121	polish	polish	PROPN
dem-2899	155	122	scd	scd	PROPN
dem-2899	155	123	mic	mic	ADJ
dem-2899	155	124	situation	situation	NOUN
dem-2899	155	125	o	o	NOUN
dem-2899	155	126	is	be	AUX
dem-2899	155	127	the	the	DET
dem-2899	155	128	risk	risk	NOUN
dem-2899	155	129	merican	merican	PROPN
dem-2899	155	130	econ	econ	PROPN
dem-2899	155	131	m	m	PROPN
dem-2899	155	132	the	the	DET
dem-2899	155	133	ame	ame	PROPN
dem-2899	155	134	news	news	PROPN
dem-2899	155	135	on	on	ADP
dem-2899	155	136	retu	retu	ADJ
dem-2899	155	137	ncludes	nclude	NOUN
dem-2899	155	138	surv	surv	VERB
dem-2899	155	139	reign	reign	PROPN
dem-2899	155	140	exchan	exchan	PROPN
dem-2899	155	141	xis	xis	PROPN
dem-2899	155	142	)	)	PUNCT
dem-2899	155	143	,	,	PUNCT
dem-2899	155	144	and	and	CCONJ
dem-2899	155	145	bux	bux	PROPN
dem-2899	155	146	ood	ood	PROPN
dem-2899	155	147	and	and	CCONJ
dem-2899	155	148	schw	schw	PROPN
dem-2899	155	149	vironment	vironment	PROPN
dem-2899	155	150	(	(	PUNCT
dem-2899	155	151	ex	ex	X
dem-2899	155	152	s	s	NOUN
dem-2899	155	153	economic	economic	PROPN
dem-2899	155	154	s	s	PART
dem-2899	155	155	rrent	rrent	NOUN
dem-2899	155	156	change	change	NOUN
dem-2899	155	157	ge	ge	PROPN
dem-2899	155	158	of	of	ADP
dem-2899	155	159	domes	dome	NOUN
dem-2899	155	160	the	the	DET
dem-2899	155	161	lagged	lag	VERB
dem-2899	155	162	v	v	NOUN
dem-2899	155	163	s	s	VERB
dem-2899	155	164	the	the	DET
dem-2899	155	165	usd	usd	NOUN
dem-2899	155	166	/	/	SYM
dem-2899	155	167	p	p	NOUN
dem-2899	155	168	uation	uation	NOUN
dem-2899	155	169	,	,	PUNCT
dem-2899	155	170	the	the	DET
dem-2899	155	171	o	o	NOUN
dem-2899	155	172	returns	return	NOUN
dem-2899	155	173	.	.	PUNCT
dem-2899	156	1	we	we	PRON
dem-2899	156	2	ception	ception	VERB
dem-2899	156	3	of	of	ADP
dem-2899	156	4	po	po	PROPN
dem-2899	156	5	s	s	VERB
dem-2899	156	6	in	in	ADP
dem-2899	156	7	two	two	NUM
dem-2899	156	8	form	form	NOUN
dem-2899	156	9	change	change	NOUN
dem-2899	156	10	rate	rate	NOUN
dem-2899	156	11	.	.	PUNCT
dem-2899	157	1	uding	ude	VERB
dem-2899	157	2	only	only	ADV
dem-2899	157	3	th	th	PRON
dem-2899	157	4	“	"	PUNCT
dem-2899	157	5	domestic	domestic	ADJ
dem-2899	157	6	”	"	PUNCT
dem-2899	157	7	v	v	NOUN
dem-2899	157	8	ds	ds	NOUN
dem-2899	157	9	we	we	PRON
dem-2899	157	10	actuall	actuall	ADV
dem-2899	157	11	of	of	ADP
dem-2899	157	12	the	the	DET
dem-2899	157	13	countr	countr	PROPN
dem-2899	157	14	perception	perception	NOUN
dem-2899	157	15	nomy	nomy	ADV
dem-2899	157	16	.	.	PUNCT
dem-2899	158	1	rican	rican	ADJ
dem-2899	158	2	mark	mark	NOUN
dem-2899	158	3	urns	urn	NOUN
dem-2899	158	4	and	and	CCONJ
dem-2899	158	5	vola	vola	PROPN
dem-2899	158	6	eys	eys	PROPN
dem-2899	158	7	concerni	concerni	PROPN
dem-2899	158	8	nge	nge	NOUN
dem-2899	158	9	market	market	NOUN
dem-2899	158	10	(	(	PUNCT
dem-2899	158	11	x	x	X
dem-2899	158	12	(	(	PUNCT
dem-2899	158	13	second	second	ADJ
dem-2899	158	14	warz	warz	NOUN
dem-2899	158	15	crixpressed	crixpresse	VERB
dem-2899	158	16	stability	stability	NOUN
dem-2899	158	17	.	.	PUNCT
dem-2899	159	1	of	of	ADP
dem-2899	159	2	bond	bond	NOUN
dem-2899	159	3	stic	stic	ADJ
dem-2899	159	4	bond	bond	NOUN
dem-2899	159	5	values	value	NOUN
dem-2899	159	6	of	of	ADP
dem-2899	159	7	pln	pln	PROPN
dem-2899	159	8	exonly	exonly	ADV
dem-2899	159	9	sigcan	sigcan	VERB
dem-2899	159	10	thus	thus	ADV
dem-2899	159	11	oland	oland	PROPN
dem-2899	159	12	,	,	PUNCT
dem-2899	159	13	as	as	ADP
dem-2899	159	14	ms	ms	NOUN
dem-2899	159	15	:	:	PUNCT
dem-2899	159	16	in	in	ADP
dem-2899	159	17	the	the	PRON
dem-2899	159	18	he	he	PRON
dem-2899	159	19	princivariables	princivariable	VERB
dem-2899	159	20	.	.	PUNCT
dem-2899	160	1	ly	ly	X
dem-2899	160	2	do	do	AUX
dem-2899	160	3	not	not	PART
dem-2899	160	4	ry	ry	VERB
dem-2899	160	5	.	.	PUNCT
dem-2899	161	1	what	what	PRON
dem-2899	161	2	of	of	ADP
dem-2899	161	3	other	other	ADJ
dem-2899	161	4	ket	ket	NOUN
dem-2899	161	5	atility	atility	NOUN
dem-2899	161	6	of	of	ADP
dem-2899	161	7	ing	ing	ADJ
dem-2899	161	8	bond	bond	NOUN
dem-2899	161	9	(	(	PUNCT
dem-2899	161	10	e.g.	e.g.	ADV
dem-2899	161	11	aneconomic	aneconomic	ADJ
dem-2899	161	12	situation	situation	NOUN
dem-2899	161	13	of	of	ADP
dem-2899	161	14	the	the	DET
dem-2899	161	15	country	country	NOUN
dem-2899	161	16	or	or	CCONJ
dem-2899	161	17	risk	risk	NOUN
dem-2899	161	18	in	in	ADP
dem-2899	161	19	the	the	DET
dem-2899	161	20	world	world	NOUN
dem-2899	161	21	financial	financial	ADJ
dem-2899	161	22	market	market	NOUN
dem-2899	161	23	?	?	PUNCT
dem-2899	161	24	...	...	PUNCT
dem-2899	162	1	dynamic	dynamic	ADJ
dem-2899	162	2	econometric	econometric	ADJ
dem-2899	162	3	models	model	NOUN
dem-2899	162	4	13	13	NUM
dem-2899	162	5	(	(	PUNCT
dem-2899	162	6	2013	2013	NUM
dem-2899	162	7	)	)	PUNCT
dem-2899	162	8	87–106	87–106	PROPN
dem-2899	162	9	97	97	NUM
dem-2899	162	10	dersen	dersen	ADJ
dem-2899	162	11	,	,	PUNCT
dem-2899	162	12	bollerslev	bollerslev	ADJ
dem-2899	162	13	,	,	PUNCT
dem-2899	162	14	1998	1998	NUM
dem-2899	162	15	)	)	PUNCT
dem-2899	162	16	and	and	CCONJ
dem-2899	162	17	equity	equity	NOUN
dem-2899	162	18	market	market	NOUN
dem-2899	162	19	(	(	PUNCT
dem-2899	162	20	e.g.	e.g.	ADV
dem-2899	162	21	będowska	będowska	NOUN
dem-2899	162	22	-	-	PUNCT
dem-2899	162	23	sójka	sójka	NOUN
dem-2899	162	24	,	,	PUNCT
dem-2899	162	25	2011	2011	NUM
dem-2899	162	26	)	)	PUNCT
dem-2899	162	27	.	.	PUNCT
dem-2899	163	1	longstaff	longstaff	PROPN
dem-2899	163	2	et	et	PROPN
dem-2899	163	3	al	al	PROPN
dem-2899	163	4	.	.	PUNCT
dem-2899	164	1	(	(	PUNCT
dem-2899	164	2	2005	2005	NUM
dem-2899	164	3	)	)	PUNCT
dem-2899	164	4	confirm	confirm	VERB
dem-2899	164	5	the	the	DET
dem-2899	164	6	impact	impact	NOUN
dem-2899	164	7	of	of	ADP
dem-2899	164	8	macroeconomic	macroeconomic	ADJ
dem-2899	164	9	measures	measure	NOUN
dem-2899	164	10	of	of	ADP
dem-2899	164	11	bonds	bond	NOUN
dem-2899	164	12	liquidity	liquidity	NOUN
dem-2899	164	13	on	on	ADP
dem-2899	164	14	cds	cd	NOUN
dem-2899	164	15	spreads	spread	NOUN
dem-2899	164	16	.	.	PUNCT
dem-2899	165	1	we	we	PRON
dem-2899	165	2	examine	examine	VERB
dem-2899	165	3	to	to	ADP
dem-2899	165	4	what	what	DET
dem-2899	165	5	extent	extent	NOUN
dem-2899	165	6	are	be	AUX
dem-2899	165	7	scds	scds	NOUN
dem-2899	165	8	sensitive	sensitive	ADJ
dem-2899	165	9	to	to	ADP
dem-2899	165	10	macro	macro	ADJ
dem-2899	165	11	news	news	NOUN
dem-2899	165	12	announcements	announcement	NOUN
dem-2899	165	13	and	and	CCONJ
dem-2899	165	14	information	information	NOUN
dem-2899	165	15	flow	flow	NOUN
dem-2899	165	16	to	to	ADP
dem-2899	165	17	the	the	DET
dem-2899	165	18	market	market	NOUN
dem-2899	165	19	.	.	PUNCT
dem-2899	166	1	therefore	therefore	ADV
dem-2899	166	2	,	,	PUNCT
dem-2899	166	3	we	we	PRON
dem-2899	166	4	use	use	VERB
dem-2899	166	5	seven	seven	NUM
dem-2899	166	6	macro	macro	ADJ
dem-2899	166	7	releases	release	NOUN
dem-2899	166	8	commonly	commonly	ADV
dem-2899	166	9	used	use	VERB
dem-2899	166	10	in	in	ADP
dem-2899	166	11	the	the	DET
dem-2899	166	12	literature	literature	NOUN
dem-2899	166	13	of	of	ADP
dem-2899	166	14	macro	macro	ADJ
dem-2899	166	15	news	news	NOUN
dem-2899	166	16	announcements	announcement	NOUN
dem-2899	166	17	effect	effect	NOUN
dem-2899	166	18	(	(	PUNCT
dem-2899	166	19	e.g.	e.g.	ADV
dem-2899	166	20	almeida	almeida	PROPN
dem-2899	166	21	et	et	PROPN
dem-2899	166	22	al	al	PROPN
dem-2899	166	23	.	.	PROPN
dem-2899	166	24	,	,	PUNCT
dem-2899	166	25	1998	1998	NUM
dem-2899	166	26	;	;	PUNCT
dem-2899	166	27	będowskasójka	będowskasójka	PROPN
dem-2899	166	28	,	,	PUNCT
dem-2899	166	29	2011	2011	NUM
dem-2899	166	30	)	)	PUNCT
dem-2899	166	31	.	.	PUNCT
dem-2899	167	1	these	these	PRON
dem-2899	167	2	are	be	AUX
dem-2899	167	3	:	:	PUNCT
dem-2899	167	4	industrial	industrial	ADJ
dem-2899	167	5	production	production	NOUN
dem-2899	167	6	,	,	PUNCT
dem-2899	167	7	retail	retail	ADJ
dem-2899	167	8	sales	sale	NOUN
dem-2899	167	9	,	,	PUNCT
dem-2899	167	10	consumer	consumer	NOUN
dem-2899	167	11	confidence	confidence	NOUN
dem-2899	167	12	,	,	PUNCT
dem-2899	167	13	durable	durable	ADJ
dem-2899	167	14	goods	good	NOUN
dem-2899	167	15	order	order	NOUN
dem-2899	167	16	,	,	PUNCT
dem-2899	167	17	unemployment	unemployment	NOUN
dem-2899	167	18	rate	rate	NOUN
dem-2899	167	19	,	,	PUNCT
dem-2899	167	20	producer	producer	NOUN
dem-2899	167	21	price	price	NOUN
dem-2899	167	22	index	index	NOUN
dem-2899	167	23	,	,	PUNCT
dem-2899	167	24	new	new	ADJ
dem-2899	167	25	home	home	NOUN
dem-2899	167	26	sales	sale	NOUN
dem-2899	167	27	and	and	CCONJ
dem-2899	167	28	purchasing	purchasing	NOUN
dem-2899	167	29	manager	manager	NOUN
dem-2899	167	30	index	index	NOUN
dem-2899	167	31	.	.	PUNCT
dem-2899	168	1	these	these	DET
dem-2899	168	2	announcements	announcement	NOUN
dem-2899	168	3	are	be	AUX
dem-2899	168	4	aggregated	aggregate	VERB
dem-2899	168	5	into	into	ADP
dem-2899	168	6	indicator	indicator	NOUN
dem-2899	168	7	variable	variable	NOUN
dem-2899	168	8	(	(	PUNCT
dem-2899	168	9	dv	dv	PROPN
dem-2899	168	10	)	)	PUNCT
dem-2899	168	11	taking	take	VERB
dem-2899	168	12	value	value	NOUN
dem-2899	168	13	of	of	ADP
dem-2899	168	14	1	1	NUM
dem-2899	168	15	if	if	SCONJ
dem-2899	168	16	at	at	ADV
dem-2899	168	17	least	least	ADV
dem-2899	168	18	one	one	NUM
dem-2899	168	19	release	release	NOUN
dem-2899	168	20	occur	occur	VERB
dem-2899	168	21	within	within	ADP
dem-2899	168	22	the	the	DET
dem-2899	168	23	day	day	NOUN
dem-2899	168	24	and	and	CCONJ
dem-2899	168	25	zero	zero	NUM
dem-2899	168	26	otherwise	otherwise	ADV
dem-2899	168	27	.	.	PUNCT
dem-2899	169	1	the	the	DET
dem-2899	169	2	data	datum	NOUN
dem-2899	169	3	considering	consider	VERB
dem-2899	169	4	macro	macro	ADJ
dem-2899	169	5	announcements	announcement	NOUN
dem-2899	169	6	are	be	AUX
dem-2899	169	7	from	from	ADP
dem-2899	169	8	www.bankier.pl	www.bankier.pl	PROPN
dem-2899	169	9	.	.	PUNCT
dem-2899	170	1	as	as	ADP
dem-2899	170	2	a	a	DET
dem-2899	170	3	measure	measure	NOUN
dem-2899	170	4	of	of	ADP
dem-2899	170	5	intensity	intensity	NOUN
dem-2899	170	6	of	of	ADP
dem-2899	170	7	unobservable	unobservable	ADJ
dem-2899	170	8	information	information	NOUN
dem-2899	170	9	arrival	arrival	NOUN
dem-2899	170	10	we	we	PRON
dem-2899	170	11	use	use	VERB
dem-2899	170	12	trading	trading	NOUN
dem-2899	170	13	volume	volume	NOUN
dem-2899	170	14	of	of	ADP
dem-2899	170	15	wig	wig	NOUN
dem-2899	170	16	index	index	NOUN
dem-2899	170	17	(	(	PUNCT
dem-2899	170	18	lamoureux	lamoureux	PROPN
dem-2899	170	19	,	,	PUNCT
dem-2899	170	20	lastrapes	lastrape	NOUN
dem-2899	170	21	,	,	PUNCT
dem-2899	170	22	1990	1990	NUM
dem-2899	170	23	)	)	PUNCT
dem-2899	170	24	.	.	PUNCT
dem-2899	171	1	we	we	PRON
dem-2899	171	2	assume	assume	VERB
dem-2899	171	3	that	that	SCONJ
dem-2899	171	4	information	information	NOUN
dem-2899	171	5	arrival	arrival	NOUN
dem-2899	171	6	may	may	AUX
dem-2899	171	7	influence	influence	VERB
dem-2899	171	8	the	the	DET
dem-2899	171	9	scds	scds	NOUN
dem-2899	171	10	spreads	spread	VERB
dem-2899	171	11	.	.	PUNCT
dem-2899	172	1	however	however	ADV
dem-2899	172	2	,	,	PUNCT
dem-2899	172	3	we	we	PRON
dem-2899	172	4	are	be	AUX
dem-2899	172	5	aware	aware	ADJ
dem-2899	172	6	of	of	ADP
dem-2899	172	7	the	the	DET
dem-2899	172	8	fact	fact	NOUN
dem-2899	172	9	that	that	SCONJ
dem-2899	172	10	in	in	ADP
dem-2899	172	11	some	some	DET
dem-2899	172	12	cases	case	NOUN
dem-2899	172	13	trading	trading	NOUN
dem-2899	172	14	volume	volume	NOUN
dem-2899	172	15	can	can	AUX
dem-2899	172	16	not	not	PART
dem-2899	172	17	be	be	AUX
dem-2899	172	18	an	an	DET
dem-2899	172	19	accurate	accurate	ADJ
dem-2899	172	20	proxy	proxy	NOUN
dem-2899	172	21	for	for	ADP
dem-2899	172	22	information	information	NOUN
dem-2899	172	23	arrival	arrival	NOUN
dem-2899	172	24	.	.	PUNCT
dem-2899	173	1	it	it	PRON
dem-2899	173	2	refers	refer	VERB
dem-2899	173	3	to	to	ADP
dem-2899	173	4	the	the	DET
dem-2899	173	5	liquidity	liquidity	NOUN
dem-2899	173	6	motivated	motivated	ADJ
dem-2899	173	7	trading	trading	NOUN
dem-2899	173	8	activities	activity	NOUN
dem-2899	173	9	,	,	PUNCT
dem-2899	173	10	heterogeneity	heterogeneity	NOUN
dem-2899	173	11	among	among	ADP
dem-2899	173	12	traders	trader	NOUN
dem-2899	173	13	’	’	PART
dem-2899	173	14	expectations	expectation	NOUN
dem-2899	173	15	and	and	CCONJ
dem-2899	173	16	beliefs	belief	NOUN
dem-2899	173	17	etc	etc	X
dem-2899	173	18	.	.	X
dem-2899	174	1	(	(	PUNCT
dem-2899	174	2	see	see	VERB
dem-2899	174	3	kalev	kalev	PROPN
dem-2899	174	4	et	et	PROPN
dem-2899	174	5	al	al	PROPN
dem-2899	174	6	.	.	PROPN
dem-2899	174	7	,	,	PUNCT
dem-2899	174	8	2004	2004	NUM
dem-2899	174	9	)	)	PUNCT
dem-2899	174	10	.	.	PUNCT
dem-2899	175	1	by	by	ADP
dem-2899	175	2	incorporating	incorporate	VERB
dem-2899	175	3	lagged	lag	VERB
dem-2899	175	4	trading	trading	NOUN
dem-2899	175	5	volume	volume	NOUN
dem-2899	175	6	into	into	ADP
dem-2899	175	7	the	the	DET
dem-2899	175	8	conditional	conditional	ADJ
dem-2899	175	9	volatility	volatility	NOUN
dem-2899	175	10	equation	equation	NOUN
dem-2899	175	11	of	of	ADP
dem-2899	175	12	the	the	DET
dem-2899	175	13	figarch(1,d,1	figarch(1,d,1	NOUN
dem-2899	175	14	)	)	PUNCT
dem-2899	175	15	model	model	NOUN
dem-2899	175	16	we	we	PRON
dem-2899	175	17	examine	examine	VERB
dem-2899	175	18	if	if	SCONJ
dem-2899	175	19	the	the	DET
dem-2899	175	20	rate	rate	NOUN
dem-2899	175	21	of	of	ADP
dem-2899	175	22	news	news	NOUN
dem-2899	175	23	arrivals	arrival	NOUN
dem-2899	175	24	significantly	significantly	ADV
dem-2899	175	25	influence	influence	VERB
dem-2899	175	26	the	the	DET
dem-2899	175	27	conditional	conditional	ADJ
dem-2899	175	28	volatility	volatility	NOUN
dem-2899	175	29	.	.	PUNCT
dem-2899	176	1	we	we	PRON
dem-2899	176	2	model	model	VERB
dem-2899	176	3	scds	scds	PROPN
dem-2899	176	4	return	return	PROPN
dem-2899	176	5	series	series	PROPN
dem-2899	176	6	,	,	PUNCT
dem-2899	176	7	rt	rt	PROPN
dem-2899	176	8	,	,	PUNCT
dem-2899	176	9	with	with	ADP
dem-2899	176	10	ar(1)-figarch	ar(1)-figarch	PROPN
dem-2899	176	11	(	(	PUNCT
dem-2899	176	12	1,d,1	1,d,1	NUM
dem-2899	176	13	)	)	PUNCT
dem-2899	176	14	process	process	NOUN
dem-2899	176	15	(	(	PUNCT
dem-2899	176	16	see	see	VERB
dem-2899	176	17	appendix	appendix	NOUN
dem-2899	176	18	2	2	NUM
dem-2899	176	19	)	)	PUNCT
dem-2899	176	20	.	.	PUNCT
dem-2899	177	1	we	we	PRON
dem-2899	177	2	introduce	introduce	VERB
dem-2899	177	3	into	into	ADP
dem-2899	177	4	the	the	DET
dem-2899	177	5	conditional	conditional	ADJ
dem-2899	177	6	variance	variance	NOUN
dem-2899	177	7	equations	equation	NOUN
dem-2899	177	8	indicator	indicator	NOUN
dem-2899	177	9	variable	variable	NOUN
dem-2899	177	10	standing	stand	VERB
dem-2899	177	11	for	for	ADP
dem-2899	177	12	aggregated	aggregate	VERB
dem-2899	177	13	macro	macro	ADJ
dem-2899	177	14	announcements	announcement	NOUN
dem-2899	177	15	.	.	PUNCT
dem-2899	178	1	dummy	dummy	ADJ
dem-2899	178	2	variable	variable	NOUN
dem-2899	178	3	,	,	PUNCT
dem-2899	178	4	dvt	dvt	PROPN
dem-2899	178	5	,	,	PUNCT
dem-2899	178	6	has	have	VERB
dem-2899	178	7	a	a	DET
dem-2899	178	8	value	value	NOUN
dem-2899	178	9	of	of	ADP
dem-2899	178	10	1	1	NUM
dem-2899	178	11	at	at	ADP
dem-2899	178	12	the	the	DET
dem-2899	178	13	day	day	NOUN
dem-2899	178	14	of	of	ADP
dem-2899	178	15	macro	macro	ADJ
dem-2899	178	16	announcements	announcement	NOUN
dem-2899	178	17	and	and	CCONJ
dem-2899	178	18	zero	zero	NUM
dem-2899	178	19	otherwise	otherwise	ADV
dem-2899	178	20	.	.	PUNCT
dem-2899	179	1	this	this	DET
dem-2899	179	2	variable	variable	NOUN
dem-2899	179	3	is	be	AUX
dem-2899	179	4	responsible	responsible	ADJ
dem-2899	179	5	for	for	ADP
dem-2899	179	6	the	the	DET
dem-2899	179	7	impact	impact	NOUN
dem-2899	179	8	of	of	ADP
dem-2899	179	9	the	the	DET
dem-2899	179	10	macro	macro	NOUN
dem-2899	179	11	releases	release	NOUN
dem-2899	179	12	on	on	ADP
dem-2899	179	13	the	the	DET
dem-2899	179	14	conditional	conditional	ADJ
dem-2899	179	15	volatility	volatility	NOUN
dem-2899	179	16	.	.	PUNCT
dem-2899	180	1	if	if	SCONJ
dem-2899	180	2	there	there	PRON
dem-2899	180	3	is	be	VERB
dem-2899	180	4	any	any	DET
dem-2899	180	5	influence	influence	NOUN
dem-2899	180	6	of	of	ADP
dem-2899	180	7	these	these	DET
dem-2899	180	8	macro	macro	ADJ
dem-2899	180	9	releases	release	NOUN
dem-2899	180	10	,	,	PUNCT
dem-2899	180	11	the	the	DET
dem-2899	180	12	estimated	estimate	VERB
dem-2899	180	13	parameter	parameter	NOUN
dem-2899	180	14	should	should	AUX
dem-2899	180	15	be	be	AUX
dem-2899	180	16	significant	significant	ADJ
dem-2899	180	17	.	.	PUNCT
dem-2899	181	1	in	in	ADP
dem-2899	181	2	another	another	DET
dem-2899	181	3	model	model	NOUN
dem-2899	181	4	we	we	PRON
dem-2899	181	5	introduce	introduce	VERB
dem-2899	181	6	the	the	DET
dem-2899	181	7	lagged	lag	VERB
dem-2899	181	8	volume	volume	NOUN
dem-2899	181	9	,	,	PUNCT
dem-2899	181	10	volt-1	volt-1	PROPN
dem-2899	181	11	,	,	PUNCT
dem-2899	181	12	into	into	ADP
dem-2899	181	13	the	the	DET
dem-2899	181	14	conditional	conditional	ADJ
dem-2899	181	15	variance	variance	NOUN
dem-2899	181	16	equation	equation	NOUN
dem-2899	181	17	in	in	ADP
dem-2899	181	18	order	order	NOUN
dem-2899	181	19	to	to	PART
dem-2899	181	20	account	account	VERB
dem-2899	181	21	for	for	ADP
dem-2899	181	22	undefined	undefined	ADJ
dem-2899	181	23	information	information	NOUN
dem-2899	181	24	.	.	PUNCT
dem-2899	182	1	the	the	DET
dem-2899	182	2	significance	significance	NOUN
dem-2899	182	3	of	of	ADP
dem-2899	182	4	the	the	DET
dem-2899	182	5	parameter	parameter	NOUN
dem-2899	182	6	standing	stand	VERB
dem-2899	182	7	by	by	ADP
dem-2899	182	8	the	the	DET
dem-2899	182	9	volume	volume	NOUN
dem-2899	182	10	variable	variable	NOUN
dem-2899	182	11	would	would	AUX
dem-2899	182	12	suggest	suggest	VERB
dem-2899	182	13	that	that	SCONJ
dem-2899	182	14	information	information	NOUN
dem-2899	182	15	inflow	inflow	NOUN
dem-2899	182	16	affect	affect	VERB
dem-2899	182	17	scds	scds	NOUN
dem-2899	182	18	volatility	volatility	NOUN
dem-2899	182	19	.	.	PUNCT
dem-2899	183	1	the	the	DET
dem-2899	183	2	figarch	figarch	NOUN
dem-2899	183	3	model	model	NOUN
dem-2899	183	4	is	be	AUX
dem-2899	183	5	chosen	choose	VERB
dem-2899	183	6	from	from	ADP
dem-2899	183	7	the	the	DET
dem-2899	183	8	garch	garch	NOUN
dem-2899	183	9	class	class	NOUN
dem-2899	183	10	models	model	NOUN
dem-2899	183	11	–	–	PUNCT
dem-2899	183	12	the	the	DET
dem-2899	183	13	choice	choice	NOUN
dem-2899	183	14	is	be	AUX
dem-2899	183	15	based	base	VERB
dem-2899	183	16	on	on	ADP
dem-2899	183	17	information	information	NOUN
dem-2899	183	18	criteria	criterion	NOUN
dem-2899	183	19	and	and	CCONJ
dem-2899	183	20	the	the	DET
dem-2899	183	21	value	value	NOUN
dem-2899	183	22	of	of	ADP
dem-2899	183	23	logarithm	logarithm	NOUN
dem-2899	183	24	of	of	ADP
dem-2899	183	25	likelihood	likelihood	NOUN
dem-2899	183	26	function	function	NOUN
dem-2899	183	27	.	.	PUNCT
dem-2899	184	1	the	the	DET
dem-2899	184	2	results	result	NOUN
dem-2899	184	3	of	of	ADP
dem-2899	184	4	model	model	NOUN
dem-2899	184	5	estimation	estimation	NOUN
dem-2899	184	6	are	be	AUX
dem-2899	184	7	shown	show	VERB
dem-2899	184	8	in	in	ADP
dem-2899	184	9	table	table	NOUN
dem-2899	184	10	7	7	NUM
dem-2899	184	11	.	.	PUNCT
dem-2899	185	1	the	the	DET
dem-2899	185	2	impact	impact	NOUN
dem-2899	185	3	of	of	ADP
dem-2899	185	4	macro	macro	ADJ
dem-2899	185	5	news	news	NOUN
dem-2899	185	6	is	be	AUX
dem-2899	185	7	not	not	PART
dem-2899	185	8	significant	significant	ADJ
dem-2899	185	9	.	.	PUNCT
dem-2899	186	1	however	however	ADV
dem-2899	186	2	,	,	PUNCT
dem-2899	186	3	the	the	DET
dem-2899	186	4	lagged	lag	VERB
dem-2899	186	5	stock	stock	NOUN
dem-2899	186	6	index	index	NOUN
dem-2899	186	7	volume	volume	NOUN
dem-2899	186	8	variable	variable	NOUN
dem-2899	186	9	appeared	appear	VERB
dem-2899	186	10	to	to	PART
dem-2899	186	11	be	be	AUX
dem-2899	186	12	significant	significant	ADJ
dem-2899	186	13	.	.	PUNCT
dem-2899	187	1	it	it	PRON
dem-2899	187	2	suggests	suggest	VERB
dem-2899	187	3	that	that	SCONJ
dem-2899	187	4	overall	overall	ADJ
dem-2899	187	5	activity	activity	NOUN
dem-2899	187	6	driven	drive	VERB
dem-2899	187	7	at	at	ADP
dem-2899	187	8	least	least	ADJ
dem-2899	187	9	by	by	ADP
dem-2899	187	10	incoming	incoming	ADJ
dem-2899	187	11	information	information	NOUN
dem-2899	187	12	or	or	CCONJ
dem-2899	187	13	the	the	DET
dem-2899	187	14	rate	rate	NOUN
dem-2899	187	15	of	of	ADP
dem-2899	187	16	news	news	NOUN
dem-2899	187	17	arrivals	arrival	NOUN
dem-2899	187	18	are	be	AUX
dem-2899	187	19	influencing	influence	VERB
dem-2899	187	20	scds	scds	PROPN
dem-2899	187	21	premia	premia	PROPN
dem-2899	187	22	’s	’s	PART
dem-2899	187	23	volatility	volatility	NOUN
dem-2899	187	24	significantly	significantly	ADV
dem-2899	187	25	.	.	PUNCT
dem-2899	188	1	agata	agata	PROPN
dem-2899	188	2	kliber	kliber	PROPN
dem-2899	188	3	,	,	PUNCT
dem-2899	188	4	barbara	barbara	PROPN
dem-2899	188	5	będowska	będowska	PROPN
dem-2899	188	6	-	-	PUNCT
dem-2899	188	7	sójka	sójka	ADV
dem-2899	188	8	dynamic	dynamic	ADJ
dem-2899	188	9	econometric	econometric	ADJ
dem-2899	188	10	models	model	NOUN
dem-2899	188	11	13	13	NUM
dem-2899	188	12	(	(	PUNCT
dem-2899	188	13	2013	2013	NUM
dem-2899	188	14	)	)	PUNCT
dem-2899	188	15	87–106	87–106	PROPN
dem-2899	188	16	98	98	NUM
dem-2899	188	17	parameters	parameter	NOUN
dem-2899	188	18	are	be	AUX
dem-2899	188	19	stable	stable	ADJ
dem-2899	188	20	across	across	ADP
dem-2899	188	21	different	different	ADJ
dem-2899	188	22	specifications	specification	NOUN
dem-2899	188	23	.	.	PUNCT
dem-2899	189	1	when	when	SCONJ
dem-2899	189	2	included	include	VERB
dem-2899	189	3	in	in	ADP
dem-2899	189	4	the	the	DET
dem-2899	189	5	equation	equation	NOUN
dem-2899	189	6	,	,	PUNCT
dem-2899	189	7	the	the	DET
dem-2899	189	8	lagged	lag	VERB
dem-2899	189	9	volume	volume	NOUN
dem-2899	189	10	causes	cause	VERB
dem-2899	189	11	substantial	substantial	ADJ
dem-2899	189	12	reduction	reduction	NOUN
dem-2899	189	13	in	in	ADP
dem-2899	189	14	the	the	DET
dem-2899	189	15	value	value	NOUN
dem-2899	189	16	of	of	ADP
dem-2899	189	17	the	the	DET
dem-2899	189	18	constants	constant	NOUN
dem-2899	189	19	’	'	PUNCT
dem-2899	189	20	parameter	parameter	NOUN
dem-2899	189	21	in	in	ADP
dem-2899	189	22	the	the	DET
dem-2899	189	23	conditional	conditional	ADJ
dem-2899	189	24	variance	variance	NOUN
dem-2899	189	25	equation	equation	NOUN
dem-2899	189	26	.	.	PUNCT
dem-2899	190	1	however	however	ADV
dem-2899	190	2	,	,	PUNCT
dem-2899	190	3	both	both	DET
dem-2899	190	4	α	α	NOUN
dem-2899	190	5	and	and	CCONJ
dem-2899	190	6	β	β	NOUN
dem-2899	190	7	do	do	AUX
dem-2899	190	8	not	not	PART
dem-2899	190	9	change	change	VERB
dem-2899	190	10	substantially	substantially	ADV
dem-2899	190	11	.	.	PUNCT
dem-2899	191	1	thus	thus	ADV
dem-2899	191	2	scds	scds	ADJ
dem-2899	191	3	returns	return	NOUN
dem-2899	191	4	are	be	AUX
dem-2899	191	5	not	not	PART
dem-2899	191	6	sensitive	sensitive	ADJ
dem-2899	191	7	to	to	ADP
dem-2899	191	8	the	the	DET
dem-2899	191	9	examined	examine	VERB
dem-2899	191	10	public	public	ADJ
dem-2899	191	11	macro	macro	ADJ
dem-2899	191	12	announcements	announcement	NOUN
dem-2899	191	13	,	,	PUNCT
dem-2899	191	14	but	but	CCONJ
dem-2899	191	15	they	they	PRON
dem-2899	191	16	are	be	AUX
dem-2899	191	17	to	to	ADP
dem-2899	191	18	some	some	DET
dem-2899	191	19	extent	extent	NOUN
dem-2899	191	20	influenced	influence	VERB
dem-2899	191	21	by	by	ADP
dem-2899	191	22	unspecified	unspecified	ADJ
dem-2899	191	23	information	information	NOUN
dem-2899	191	24	.	.	PUNCT
dem-2899	192	1	conclusions	conclusion	NOUN
dem-2899	192	2	in	in	ADP
dem-2899	192	3	the	the	DET
dem-2899	192	4	paper	paper	NOUN
dem-2899	192	5	we	we	PRON
dem-2899	192	6	analyzed	analyze	VERB
dem-2899	192	7	dynamics	dynamic	NOUN
dem-2899	192	8	of	of	ADP
dem-2899	192	9	polish	polish	ADJ
dem-2899	192	10	sovereign	sovereign	ADJ
dem-2899	192	11	credit	credit	NOUN
dem-2899	192	12	default	default	NOUN
dem-2899	192	13	swaps	swap	NOUN
dem-2899	192	14	and	and	CCONJ
dem-2899	192	15	checked	check	VERB
dem-2899	192	16	its	its	PRON
dem-2899	192	17	reaction	reaction	NOUN
dem-2899	192	18	to	to	ADP
dem-2899	192	19	the	the	DET
dem-2899	192	20	changes	change	NOUN
dem-2899	192	21	of	of	ADP
dem-2899	192	22	variables	variable	NOUN
dem-2899	192	23	reflecting	reflect	VERB
dem-2899	192	24	economic	economic	ADJ
dem-2899	192	25	situation	situation	NOUN
dem-2899	192	26	of	of	ADP
dem-2899	192	27	the	the	DET
dem-2899	192	28	country	country	NOUN
dem-2899	192	29	,	,	PUNCT
dem-2899	192	30	as	as	ADV
dem-2899	192	31	well	well	ADV
dem-2899	192	32	as	as	ADP
dem-2899	192	33	the	the	DET
dem-2899	192	34	ones	one	NOUN
dem-2899	192	35	connected	connect	VERB
dem-2899	192	36	with	with	ADP
dem-2899	192	37	economic	economic	ADJ
dem-2899	192	38	situation	situation	NOUN
dem-2899	192	39	in	in	ADP
dem-2899	192	40	the	the	DET
dem-2899	192	41	world	world	NOUN
dem-2899	192	42	financial	financial	ADJ
dem-2899	192	43	markets	market	NOUN
dem-2899	192	44	.	.	PUNCT
dem-2899	193	1	in	in	ADP
dem-2899	193	2	order	order	NOUN
dem-2899	193	3	not	not	PART
dem-2899	193	4	to	to	PART
dem-2899	193	5	replicate	replicate	VERB
dem-2899	193	6	our	our	PRON
dem-2899	193	7	previous	previous	ADJ
dem-2899	193	8	findings	finding	NOUN
dem-2899	193	9	,	,	PUNCT
dem-2899	193	10	as	as	ADV
dem-2899	193	11	well	well	ADV
dem-2899	193	12	as	as	ADP
dem-2899	193	13	not	not	PART
dem-2899	193	14	to	to	PART
dem-2899	193	15	lose	lose	VERB
dem-2899	193	16	too	too	ADV
dem-2899	193	17	much	much	ADJ
dem-2899	193	18	information	information	NOUN
dem-2899	193	19	,	,	PUNCT
dem-2899	193	20	we	we	PRON
dem-2899	193	21	did	do	AUX
dem-2899	193	22	not	not	PART
dem-2899	193	23	consider	consider	VERB
dem-2899	193	24	the	the	DET
dem-2899	193	25	actual	actual	ADJ
dem-2899	193	26	fundamentals	fundamental	NOUN
dem-2899	193	27	(	(	PUNCT
dem-2899	193	28	of	of	ADP
dem-2899	193	29	monthly	monthly	ADJ
dem-2899	193	30	or	or	CCONJ
dem-2899	193	31	quarterly	quarterly	ADJ
dem-2899	193	32	frequency	frequency	NOUN
dem-2899	193	33	)	)	PUNCT
dem-2899	193	34	,	,	PUNCT
dem-2899	193	35	but	but	CCONJ
dem-2899	193	36	concentrated	concentrate	VERB
dem-2899	193	37	on	on	ADP
dem-2899	193	38	the	the	DET
dem-2899	193	39	variables	variable	NOUN
dem-2899	193	40	from	from	ADP
dem-2899	193	41	financial	financial	ADJ
dem-2899	193	42	markets	market	NOUN
dem-2899	193	43	,	,	PUNCT
dem-2899	193	44	such	such	ADJ
dem-2899	193	45	as	as	ADP
dem-2899	193	46	bonds	bond	NOUN
dem-2899	193	47	,	,	PUNCT
dem-2899	193	48	exchange	exchange	NOUN
dem-2899	193	49	rates	rate	NOUN
dem-2899	193	50	and	and	CCONJ
dem-2899	193	51	stock	stock	NOUN
dem-2899	193	52	indices	index	NOUN
dem-2899	193	53	.	.	PUNCT
dem-2899	194	1	we	we	PRON
dem-2899	194	2	compared	compare	VERB
dem-2899	194	3	the	the	DET
dem-2899	194	4	models	model	NOUN
dem-2899	194	5	that	that	PRON
dem-2899	194	6	included	include	VERB
dem-2899	194	7	the	the	DET
dem-2899	194	8	“	"	PUNCT
dem-2899	194	9	domestic	domestic	ADJ
dem-2899	194	10	”	"	PUNCT
dem-2899	194	11	variables	variable	NOUN
dem-2899	194	12	with	with	ADP
dem-2899	194	13	the	the	DET
dem-2899	194	14	ones	one	NOUN
dem-2899	194	15	including	include	VERB
dem-2899	194	16	the	the	DET
dem-2899	194	17	analogous	analogous	ADJ
dem-2899	194	18	variables	variable	NOUN
dem-2899	194	19	from	from	ADP
dem-2899	194	20	neighborhood	neighborhood	NOUN
dem-2899	194	21	countries	country	NOUN
dem-2899	194	22	.	.	PUNCT
dem-2899	195	1	we	we	PRON
dem-2899	195	2	found	find	VERB
dem-2899	195	3	that	that	SCONJ
dem-2899	195	4	although	although	SCONJ
dem-2899	195	5	the	the	DET
dem-2899	195	6	variables	variable	NOUN
dem-2899	195	7	reflecting	reflect	VERB
dem-2899	195	8	the	the	DET
dem-2899	195	9	economic	economic	ADJ
dem-2899	195	10	situation	situation	NOUN
dem-2899	195	11	of	of	ADP
dem-2899	195	12	the	the	DET
dem-2899	195	13	country	country	NOUN
dem-2899	195	14	play	play	VERB
dem-2899	195	15	a	a	DET
dem-2899	195	16	significant	significant	ADJ
dem-2899	195	17	role	role	NOUN
dem-2899	195	18	in	in	ADP
dem-2899	195	19	explaining	explain	VERB
dem-2899	195	20	the	the	DET
dem-2899	195	21	dynamics	dynamic	NOUN
dem-2899	195	22	of	of	ADP
dem-2899	195	23	the	the	DET
dem-2899	195	24	scds	scds	PROPN
dem-2899	195	25	premia	premia	PROPN
dem-2899	195	26	,	,	PUNCT
dem-2899	195	27	the	the	DET
dem-2899	195	28	model	model	NOUN
dem-2899	195	29	that	that	PRON
dem-2899	195	30	take	take	VERB
dem-2899	195	31	into	into	ADP
dem-2899	195	32	account	account	NOUN
dem-2899	195	33	only	only	ADV
dem-2899	195	34	the	the	DET
dem-2899	195	35	environment	environment	NOUN
dem-2899	195	36	variables	variable	NOUN
dem-2899	195	37	is	be	AUX
dem-2899	195	38	capable	capable	ADJ
dem-2899	195	39	to	to	PART
dem-2899	195	40	explain	explain	VERB
dem-2899	195	41	the	the	DET
dem-2899	195	42	dynamics	dynamic	NOUN
dem-2899	195	43	of	of	ADP
dem-2899	195	44	the	the	DET
dem-2899	195	45	premia	premia	NOUN
dem-2899	195	46	even	even	ADV
dem-2899	195	47	better	well	ADV
dem-2899	195	48	.	.	PUNCT
dem-2899	196	1	both	both	CCONJ
dem-2899	196	2	the	the	DET
dem-2899	196	3	exchange	exchange	NOUN
dem-2899	196	4	rates	rate	NOUN
dem-2899	196	5	and	and	CCONJ
dem-2899	196	6	bond	bond	NOUN
dem-2899	196	7	spreads	spread	NOUN
dem-2899	196	8	have	have	VERB
dem-2899	196	9	a	a	DET
dem-2899	196	10	strong	strong	ADJ
dem-2899	196	11	explanatory	explanatory	ADJ
dem-2899	196	12	power	power	NOUN
dem-2899	196	13	in	in	ADP
dem-2899	196	14	explaining	explain	VERB
dem-2899	196	15	the	the	DET
dem-2899	196	16	scds	scds	PROPN
dem-2899	196	17	premia	premia	PROPN
dem-2899	196	18	.	.	PUNCT
dem-2899	197	1	we	we	PRON
dem-2899	197	2	find	find	VERB
dem-2899	197	3	also	also	ADV
dem-2899	197	4	that	that	SCONJ
dem-2899	197	5	the	the	DET
dem-2899	197	6	impact	impact	NOUN
dem-2899	197	7	of	of	ADP
dem-2899	197	8	important	important	ADJ
dem-2899	197	9	macro	macro	ADJ
dem-2899	197	10	news	news	NOUN
dem-2899	197	11	from	from	ADP
dem-2899	197	12	the	the	DET
dem-2899	197	13	american	american	ADJ
dem-2899	197	14	economy	economy	NOUN
dem-2899	197	15	on	on	ADP
dem-2899	197	16	the	the	DET
dem-2899	197	17	dynamics	dynamic	NOUN
dem-2899	197	18	of	of	ADP
dem-2899	197	19	the	the	DET
dem-2899	197	20	scds	scds	PROPN
dem-2899	197	21	premia	premia	PROPN
dem-2899	197	22	is	be	AUX
dem-2899	197	23	insignificant	insignificant	ADJ
dem-2899	197	24	.	.	PUNCT
dem-2899	198	1	however	however	ADV
dem-2899	198	2	,	,	PUNCT
dem-2899	198	3	we	we	PRON
dem-2899	198	4	show	show	VERB
dem-2899	198	5	that	that	SCONJ
dem-2899	198	6	the	the	DET
dem-2899	198	7	impact	impact	NOUN
dem-2899	198	8	of	of	ADP
dem-2899	198	9	information	information	NOUN
dem-2899	198	10	inflow	inflow	NOUN
dem-2899	198	11	proxied	proxie	VERB
dem-2899	198	12	by	by	ADP
dem-2899	198	13	trading	trading	NOUN
dem-2899	198	14	volume	volume	NOUN
dem-2899	198	15	is	be	AUX
dem-2899	198	16	strong	strong	ADJ
dem-2899	198	17	.	.	PUNCT
dem-2899	199	1	taking	take	VERB
dem-2899	199	2	into	into	ADP
dem-2899	199	3	account	account	NOUN
dem-2899	199	4	the	the	DET
dem-2899	199	5	findings	finding	NOUN
dem-2899	199	6	presented	present	VERB
dem-2899	199	7	in	in	ADP
dem-2899	199	8	the	the	DET
dem-2899	199	9	paper	paper	NOUN
dem-2899	199	10	,	,	PUNCT
dem-2899	199	11	we	we	PRON
dem-2899	199	12	doubt	doubt	VERB
dem-2899	199	13	whether	whether	SCONJ
dem-2899	199	14	the	the	DET
dem-2899	199	15	premium	premium	NOUN
dem-2899	199	16	of	of	ADP
dem-2899	199	17	the	the	DET
dem-2899	199	18	polish	polish	ADJ
dem-2899	199	19	sovereign	sovereign	ADJ
dem-2899	199	20	credit	credit	NOUN
dem-2899	199	21	default	default	NOUN
dem-2899	199	22	swaps	swap	NOUN
dem-2899	199	23	should	should	AUX
dem-2899	199	24	be	be	AUX
dem-2899	199	25	treated	treat	VERB
dem-2899	199	26	as	as	ADP
dem-2899	199	27	the	the	DET
dem-2899	199	28	risk	risk	NOUN
dem-2899	199	29	indicator	indicator	NOUN
dem-2899	199	30	of	of	ADP
dem-2899	199	31	the	the	DET
dem-2899	199	32	polish	polish	ADJ
dem-2899	199	33	economy	economy	NOUN
dem-2899	199	34	.	.	PUNCT
dem-2899	200	1	moreover	moreover	ADV
dem-2899	200	2	,	,	PUNCT
dem-2899	200	3	the	the	DET
dem-2899	200	4	results	result	NOUN
dem-2899	200	5	of	of	ADP
dem-2899	200	6	the	the	DET
dem-2899	200	7	research	research	NOUN
dem-2899	200	8	suggest	suggest	VERB
dem-2899	200	9	that	that	SCONJ
dem-2899	200	10	the	the	DET
dem-2899	200	11	links	link	NOUN
dem-2899	200	12	among	among	ADP
dem-2899	200	13	some	some	DET
dem-2899	200	14	segments	segment	NOUN
dem-2899	200	15	of	of	ADP
dem-2899	200	16	world	world	NOUN
dem-2899	200	17	financial	financial	ADJ
dem-2899	200	18	markets	market	NOUN
dem-2899	200	19	can	can	AUX
dem-2899	200	20	be	be	AUX
dem-2899	200	21	stronger	strong	ADJ
dem-2899	200	22	than	than	ADP
dem-2899	200	23	the	the	DET
dem-2899	200	24	links	link	NOUN
dem-2899	200	25	among	among	ADP
dem-2899	200	26	these	these	DET
dem-2899	200	27	segments	segment	NOUN
dem-2899	200	28	within	within	ADP
dem-2899	200	29	one	one	NUM
dem-2899	200	30	country	country	NOUN
dem-2899	200	31	.	.	PUNCT
dem-2899	201	1	references	reference	NOUN
dem-2899	201	2	almeida	almeida	PROPN
dem-2899	201	3	,	,	PUNCT
dem-2899	201	4	a.	a.	PROPN
dem-2899	201	5	,	,	PUNCT
dem-2899	201	6	goodhart	goodhart	PROPN
dem-2899	201	7	,	,	PUNCT
dem-2899	201	8	c.	c.	PROPN
dem-2899	201	9	,	,	PUNCT
dem-2899	201	10	payne	payne	PROPN
dem-2899	201	11	,	,	PUNCT
dem-2899	201	12	r.	r.	PROPN
dem-2899	201	13	(	(	PUNCT
dem-2899	201	14	1998	1998	NUM
dem-2899	201	15	)	)	PUNCT
dem-2899	201	16	,	,	PUNCT
dem-2899	201	17	the	the	DET
dem-2899	201	18	effects	effect	NOUN
dem-2899	201	19	of	of	ADP
dem-2899	201	20	macroeconomic	macroeconomic	ADJ
dem-2899	201	21	news	news	NOUN
dem-2899	201	22	on	on	ADP
dem-2899	201	23	high	high	ADJ
dem-2899	201	24	frequency	frequency	NOUN
dem-2899	201	25	exchange	exchange	NOUN
dem-2899	201	26	rate	rate	NOUN
dem-2899	201	27	behavior	behavior	NOUN
dem-2899	201	28	,	,	PUNCT
dem-2899	201	29	journal	journal	NOUN
dem-2899	201	30	of	of	ADP
dem-2899	201	31	financial	financial	ADJ
dem-2899	201	32	and	and	CCONJ
dem-2899	201	33	quantitative	quantitative	ADJ
dem-2899	201	34	analysis	analysis	NOUN
dem-2899	201	35	,	,	PUNCT
dem-2899	201	36	33	33	NUM
dem-2899	201	37	,	,	PUNCT
dem-2899	201	38	383–408	383–408	NUM
dem-2899	201	39	,	,	PUNCT
dem-2899	201	40	doi	doi	NOUN
dem-2899	201	41	:	:	PUNCT
dem-2899	201	42	http://dx.doi.org/10.2307/2331101	http://dx.doi.org/10.2307/2331101	PROPN
dem-2899	201	43	.	.	PUNCT
dem-2899	202	1	economic	economic	ADJ
dem-2899	202	2	situation	situation	NOUN
dem-2899	202	3	of	of	ADP
dem-2899	202	4	the	the	DET
dem-2899	202	5	country	country	NOUN
dem-2899	202	6	or	or	CCONJ
dem-2899	202	7	risk	risk	NOUN
dem-2899	202	8	in	in	ADP
dem-2899	202	9	the	the	DET
dem-2899	202	10	world	world	NOUN
dem-2899	202	11	financial	financial	ADJ
dem-2899	202	12	market	market	NOUN
dem-2899	202	13	?	?	PUNCT
dem-2899	202	14	...	...	PUNCT
dem-2899	203	1	dynamic	dynamic	ADJ
dem-2899	203	2	econometric	econometric	ADJ
dem-2899	203	3	models	model	NOUN
dem-2899	203	4	13	13	NUM
dem-2899	203	5	(	(	PUNCT
dem-2899	203	6	2013	2013	NUM
dem-2899	203	7	)	)	PUNCT
dem-2899	203	8	87–106	87–106	NUM
dem-2899	203	9	99	99	NUM
dem-2899	203	10	będowska	będowska	NOUN
dem-2899	203	11	-	-	PUNCT
dem-2899	203	12	sójka	sójka	PROPN
dem-2899	203	13	,	,	PUNCT
dem-2899	203	14	b.	b.	PROPN
dem-2899	203	15	(	(	PUNCT
dem-2899	203	16	2011	2011	NUM
dem-2899	203	17	)	)	PUNCT
dem-2899	203	18	,	,	PUNCT
dem-2899	203	19	the	the	DET
dem-2899	203	20	impact	impact	NOUN
dem-2899	203	21	of	of	ADP
dem-2899	203	22	macro	macro	ADJ
dem-2899	203	23	news	news	NOUN
dem-2899	203	24	on	on	ADP
dem-2899	203	25	volatility	volatility	NOUN
dem-2899	203	26	of	of	ADP
dem-2899	203	27	stock	stock	NOUN
dem-2899	203	28	exchanges	exchange	NOUN
dem-2899	203	29	,	,	PUNCT
dem-2899	203	30	dynamic	dynamic	ADJ
dem-2899	203	31	econometric	econometric	ADJ
dem-2899	203	32	models	model	NOUN
dem-2899	203	33	,	,	PUNCT
dem-2899	203	34	11	11	NUM
dem-2899	203	35	,	,	PUNCT
dem-2899	203	36	99–110	99–110	PROPN
dem-2899	203	37	,	,	PUNCT
dem-2899	203	38	doi	doi	NOUN
dem-2899	203	39	:	:	PUNCT
dem-2899	203	40	http://dx.doi.org/10.12775/dem.2011.007	http://dx.doi.org/10.12775/dem.2011.007	PROPN
dem-2899	203	41	.	.	PUNCT
dem-2899	203	42	bollerslev	bollerslev	PROPN
dem-2899	203	43	,	,	PUNCT
dem-2899	203	44	t.	t.	PROPN
dem-2899	203	45	(	(	PUNCT
dem-2899	203	46	1986	1986	NUM
dem-2899	203	47	)	)	PUNCT
dem-2899	203	48	,	,	PUNCT
dem-2899	203	49	generalized	generalize	VERB
dem-2899	203	50	autoregressive	autoregressive	ADJ
dem-2899	203	51	conditional	conditional	ADJ
dem-2899	203	52	heteroskedasticity	heteroskedasticity	NOUN
dem-2899	203	53	,	,	PUNCT
dem-2899	203	54	journal	journal	NOUN
dem-2899	203	55	of	of	ADP
dem-2899	203	56	econometrics	econometric	NOUN
dem-2899	203	57	,	,	PUNCT
dem-2899	203	58	31	31	NUM
dem-2899	203	59	,	,	PUNCT
dem-2899	203	60	307–327	307–327	NUM
dem-2899	203	61	.	.	PUNCT
dem-2899	203	62	bollerslev	bollerslev	ADJ
dem-2899	203	63	,	,	PUNCT
dem-2899	203	64	t.	t.	PROPN
dem-2899	203	65	,	,	PUNCT
dem-2899	203	66	wooldridge	wooldridge	PROPN
dem-2899	203	67	,	,	PUNCT
dem-2899	203	68	j.	j.	PROPN
dem-2899	203	69	m.	m.	PROPN
dem-2899	203	70	(	(	PUNCT
dem-2899	203	71	1992	1992	NUM
dem-2899	203	72	)	)	PUNCT
dem-2899	203	73	,	,	PUNCT
dem-2899	203	74	quasi	quasi	ADJ
dem-2899	203	75	-	-	ADJ
dem-2899	203	76	maximumlikelihood	maximumlikelihood	ADJ
dem-2899	203	77	estimation	estimation	NOUN
dem-2899	203	78	and	and	CCONJ
dem-2899	203	79	inference	inference	NOUN
dem-2899	203	80	in	in	ADP
dem-2899	203	81	dynamic	dynamic	ADJ
dem-2899	203	82	models	model	NOUN
dem-2899	203	83	with	with	ADP
dem-2899	203	84	time	time	NOUN
dem-2899	203	85	-	-	PUNCT
dem-2899	203	86	varyingcovariances	varyingcovariance	NOUN
dem-2899	203	87	,	,	PUNCT
dem-2899	203	88	econometric	econometric	ADJ
dem-2899	203	89	reviews	review	NOUN
dem-2899	203	90	,	,	PUNCT
dem-2899	203	91	11	11	NUM
dem-2899	203	92	,	,	PUNCT
dem-2899	203	93	143–172	143–172	NUM
dem-2899	203	94	.	.	PUNCT
dem-2899	204	1	coudert	coudert	PROPN
dem-2899	204	2	,	,	PUNCT
dem-2899	204	3	v.	v.	PROPN
dem-2899	204	4	,	,	PUNCT
dem-2899	204	5	gex	gex	PROPN
dem-2899	204	6	,	,	PUNCT
dem-2899	204	7	m.	m.	NOUN
dem-2899	204	8	(	(	PUNCT
dem-2899	204	9	2010	2010	NUM
dem-2899	204	10	)	)	PUNCT
dem-2899	204	11	,	,	PUNCT
dem-2899	204	12	credit	credit	NOUN
dem-2899	204	13	default	default	NOUN
dem-2899	204	14	swap	swap	NOUN
dem-2899	204	15	and	and	CCONJ
dem-2899	204	16	bond	bond	NOUN
dem-2899	204	17	markets	market	NOUN
dem-2899	204	18	:	:	PUNCT
dem-2899	204	19	which	which	PRON
dem-2899	204	20	leads	lead	VERB
dem-2899	204	21	the	the	DET
dem-2899	204	22	other	other	ADJ
dem-2899	204	23	?	?	PUNCT
dem-2899	204	24	,	,	PUNCT
dem-2899	204	25	financial	financial	ADJ
dem-2899	204	26	stability	stability	NOUN
dem-2899	204	27	review	review	NOUN
dem-2899	204	28	,	,	PUNCT
dem-2899	204	29	banque	banque	PROPN
dem-2899	204	30	de	de	PROPN
dem-2899	204	31	france	france	PROPN
dem-2899	204	32	,	,	PUNCT
dem-2899	204	33	14	14	NUM
dem-2899	204	34	,	,	PUNCT
dem-2899	204	35	161–167	161–167	NUM
dem-2899	204	36	.	.	PUNCT
dem-2899	205	1	engle	engle	PROPN
dem-2899	205	2	,	,	PUNCT
dem-2899	205	3	r.	r.	PROPN
dem-2899	205	4	(	(	PUNCT
dem-2899	205	5	2002	2002	NUM
dem-2899	205	6	)	)	PUNCT
dem-2899	205	7	,	,	PUNCT
dem-2899	205	8	dynamic	dynamic	ADJ
dem-2899	205	9	conditional	conditional	ADJ
dem-2899	205	10	correlation	correlation	NOUN
dem-2899	205	11	–	–	PUNCT
dem-2899	205	12	a	a	DET
dem-2899	205	13	simple	simple	ADJ
dem-2899	205	14	class	class	NOUN
dem-2899	205	15	of	of	ADP
dem-2899	205	16	multivariate	multivariate	NOUN
dem-2899	205	17	garch	garch	NOUN
dem-2899	205	18	models	model	NOUN
dem-2899	205	19	,	,	PUNCT
dem-2899	205	20	journal	journal	NOUN
dem-2899	205	21	of	of	ADP
dem-2899	205	22	business	business	NOUN
dem-2899	205	23	and	and	CCONJ
dem-2899	205	24	economic	economic	ADJ
dem-2899	205	25	statistics	statistic	NOUN
dem-2899	205	26	,	,	PUNCT
dem-2899	205	27	20	20	NUM
dem-2899	205	28	,	,	PUNCT
dem-2899	205	29	339–350	339–350	NUM
dem-2899	205	30	,	,	PUNCT
dem-2899	205	31	doi	doi	NOUN
dem-2899	205	32	:	:	PUNCT
dem-2899	205	33	http://dx.doi.org/10.2139/ssrn.236998	http://dx.doi.org/10.2139/ssrn.236998	X
dem-2899	205	34	.	.	PUNCT
dem-2899	206	1	giannikos	giannikos	PROPN
dem-2899	206	2	,	,	PUNCT
dem-2899	206	3	c.	c.	PROPN
dem-2899	206	4	,	,	PUNCT
dem-2899	206	5	guirgis	guirgis	NOUN
dem-2899	206	6	,	,	PUNCT
dem-2899	206	7	h.	h.	PROPN
dem-2899	206	8	,	,	PUNCT
dem-2899	206	9	suenn	suenn	PROPN
dem-2899	206	10	,	,	PUNCT
dem-2899	206	11	m.	m.	NOUN
dem-2899	206	12	,	,	PUNCT
dem-2899	206	13	(	(	PUNCT
dem-2899	206	14	2013	2013	NUM
dem-2899	206	15	)	)	PUNCT
dem-2899	206	16	,	,	PUNCT
dem-2899	206	17	the	the	DET
dem-2899	206	18	2008	2008	NUM
dem-2899	206	19	financial	financial	ADJ
dem-2899	206	20	crisis	crisis	NOUN
dem-2899	206	21	and	and	CCONJ
dem-2899	206	22	the	the	DET
dem-2899	206	23	dynamics	dynamic	NOUN
dem-2899	206	24	of	of	ADP
dem-2899	206	25	price	price	NOUN
dem-2899	206	26	discovery	discovery	NOUN
dem-2899	206	27	among	among	ADP
dem-2899	206	28	stock	stock	NOUN
dem-2899	206	29	prices	price	NOUN
dem-2899	206	30	,	,	PUNCT
dem-2899	206	31	cds	cd	NOUN
dem-2899	206	32	spreads	spread	VERB
dem-2899	206	33	and	and	CCONJ
dem-2899	206	34	bond	bond	NOUN
dem-2899	206	35	spreads	spread	NOUN
dem-2899	206	36	for	for	ADP
dem-2899	206	37	u.s	u.s	PROPN
dem-2899	206	38	.	.	PROPN
dem-2899	206	39	financial	financial	ADJ
dem-2899	206	40	firms	firm	NOUN
dem-2899	206	41	,	,	PUNCT
dem-2899	206	42	journal	journal	NOUN
dem-2899	206	43	of	of	ADP
dem-2899	206	44	derivatives	derivative	NOUN
dem-2899	206	45	,	,	PUNCT
dem-2899	206	46	21	21	NUM
dem-2899	206	47	,	,	PUNCT
dem-2899	206	48	27–48	27–48	NUM
dem-2899	206	49	,	,	PUNCT
dem-2899	206	50	doi	doi	NOUN
dem-2899	206	51	:	:	PUNCT
dem-2899	206	52	http://dx.doi.org/10.3905/jod.2013.21.1.027	http://dx.doi.org/10.3905/jod.2013.21.1.027	PROPN
dem-2899	206	53	.	.	PUNCT
dem-2899	207	1	kalev	kalev	PROPN
dem-2899	207	2	,	,	PUNCT
dem-2899	207	3	p.	p.	PROPN
dem-2899	207	4	s.	s.	PROPN
dem-2899	207	5	,	,	PUNCT
dem-2899	207	6	liu	liu	PROPN
dem-2899	207	7	,	,	PUNCT
dem-2899	207	8	w.-m	w.-m	PROPN
dem-2899	207	9	.	.	PROPN
dem-2899	207	10	,	,	PUNCT
dem-2899	207	11	pham	pham	PROPN
dem-2899	207	12	,	,	PUNCT
dem-2899	207	13	p	p	X
dem-2899	207	14	.k	.k	PROPN
dem-2899	207	15	.	.	PUNCT
dem-2899	208	1	,	,	PUNCT
dem-2899	208	2	jarnecic	jarnecic	PROPN
dem-2899	208	3	,	,	PUNCT
dem-2899	208	4	e.	e.	PROPN
dem-2899	208	5	(	(	PUNCT
dem-2899	208	6	2004	2004	NUM
dem-2899	208	7	)	)	PUNCT
dem-2899	208	8	,	,	PUNCT
dem-2899	208	9	public	public	ADJ
dem-2899	208	10	information	information	NOUN
dem-2899	208	11	arrival	arrival	NOUN
dem-2899	208	12	and	and	CCONJ
dem-2899	208	13	volatlity	volatlity	NOUN
dem-2899	208	14	of	of	ADP
dem-2899	208	15	intraday	intraday	NOUN
dem-2899	208	16	stock	stock	NOUN
dem-2899	208	17	returns	return	NOUN
dem-2899	208	18	,	,	PUNCT
dem-2899	208	19	journal	journal	NOUN
dem-2899	208	20	of	of	ADP
dem-2899	208	21	banking	banking	NOUN
dem-2899	208	22	and	and	CCONJ
dem-2899	208	23	finance	finance	NOUN
dem-2899	208	24	,	,	PUNCT
dem-2899	208	25	28	28	NUM
dem-2899	208	26	,	,	PUNCT
dem-2899	208	27	1441–1467	1441–1467	NUM
dem-2899	208	28	,	,	PUNCT
dem-2899	208	29	doi	doi	NOUN
dem-2899	208	30	:	:	PUNCT
dem-2899	208	31	http://dx.doi.org/10.1016/s0378-4266(03)00126-2	http://dx.doi.org/10.1016/s0378-4266(03)00126-2	NOUN
dem-2899	208	32	.	.	PUNCT
dem-2899	208	33	kliber	kliber	PROPN
dem-2899	208	34	,	,	PUNCT
dem-2899	208	35	a.	a.	NOUN
dem-2899	208	36	(	(	PUNCT
dem-2899	208	37	2013a	2013a	NUM
dem-2899	208	38	)	)	PUNCT
dem-2899	208	39	,	,	PUNCT
dem-2899	208	40	influence	influence	NOUN
dem-2899	208	41	of	of	ADP
dem-2899	208	42	the	the	DET
dem-2899	208	43	greek	greek	ADJ
dem-2899	208	44	crisis	crisis	NOUN
dem-2899	208	45	on	on	ADP
dem-2899	208	46	the	the	DET
dem-2899	208	47	risk	risk	NOUN
dem-2899	208	48	perception	perception	NOUN
dem-2899	208	49	of	of	ADP
dem-2899	208	50	european	european	ADJ
dem-2899	208	51	economies	economy	NOUN
dem-2899	208	52	,	,	PUNCT
dem-2899	208	53	central	central	ADJ
dem-2899	208	54	european	european	ADJ
dem-2899	208	55	journal	journal	NOUN
dem-2899	208	56	of	of	ADP
dem-2899	208	57	economic	economic	ADJ
dem-2899	208	58	modelling	modelling	NOUN
dem-2899	208	59	and	and	CCONJ
dem-2899	208	60	econometrics	econometric	NOUN
dem-2899	208	61	,	,	PUNCT
dem-2899	208	62	5(2	5(2	NUM
dem-2899	208	63	)	)	PUNCT
dem-2899	208	64	,	,	PUNCT
dem-2899	208	65	125–161	125–161	NUM
dem-2899	208	66	.	.	PUNCT
dem-2899	209	1	kliber	kliber	PROPN
dem-2899	209	2	,	,	PUNCT
dem-2899	209	3	a.	a.	NOUN
dem-2899	209	4	(	(	PUNCT
dem-2899	209	5	2013b	2013b	NUM
dem-2899	209	6	)	)	PUNCT
dem-2899	209	7	,	,	PUNCT
dem-2899	209	8	ocena	ocena	ADJ
dem-2899	209	9	ryzyka	ryzyka	PROPN
dem-2899	209	10	polski	polski	PROPN
dem-2899	209	11	z	z	PROPN
dem-2899	209	12	wykorzystaniem	wykorzystaniem	ADJ
dem-2899	209	13	tradycyjnych	tradycyjnych	NOUN
dem-2899	209	14	mierników	mierników	PROPN
dem-2899	209	15	gospodarczych	gospodarczych	PROPN
dem-2899	209	16	oraz	oraz	PROPN
dem-2899	209	17	premii	premii	PROPN
dem-2899	209	18	kontraktów	kontraktów	VERB
dem-2899	209	19	cds	cd	NOUN
dem-2899	209	20	–	–	PUNCT
dem-2899	209	21	porównanie	porównanie	NOUN
dem-2899	209	22	(	(	PUNCT
dem-2899	209	23	risk	risk	NOUN
dem-2899	209	24	of	of	ADP
dem-2899	209	25	poland	poland	PROPN
dem-2899	209	26	according	accord	VERB
dem-2899	209	27	to	to	ADP
dem-2899	209	28	traditional	traditional	ADJ
dem-2899	209	29	economic	economic	ADJ
dem-2899	209	30	risk	risk	NOUN
dem-2899	209	31	measures	measure	NOUN
dem-2899	209	32	and	and	CCONJ
dem-2899	209	33	scds	scds	NOUN
dem-2899	209	34	premia	premia	PROPN
dem-2899	209	35	–	–	PUNCT
dem-2899	209	36	a	a	DET
dem-2899	209	37	comparison	comparison	NOUN
dem-2899	209	38	)	)	PUNCT
dem-2899	209	39	,	,	PUNCT
dem-2899	209	40	under	under	ADP
dem-2899	209	41	review	review	NOUN
dem-2899	209	42	for	for	ADP
dem-2899	209	43	studia	studia	PROPN
dem-2899	209	44	oeconomica	oeconomica	PROPN
dem-2899	209	45	posnaniensia	posnaniensia	PROPN
dem-2899	209	46	.	.	PUNCT
dem-2899	210	1	(	(	PUNCT
dem-2899	210	2	available	available	ADJ
dem-2899	210	3	at	at	ADP
dem-2899	210	4	the	the	DET
dem-2899	210	5	author	author	NOUN
dem-2899	210	6	website	website	NOUN
dem-2899	210	7	:	:	PUNCT
dem-2899	210	8	http://kms.ue.poznan.pl/kliber	http://kms.ue.poznan.pl/kliber	PROPN
dem-2899	210	9	)	)	PUNCT
dem-2899	210	10	kosmidou	kosmidou	PROPN
dem-2899	210	11	,	,	PUNCT
dem-2899	210	12	k.	k.	PROPN
dem-2899	210	13	,	,	PUNCT
dem-2899	210	14	doumpos	doumpos	PROPN
dem-2899	210	15	,	,	PUNCT
dem-2899	210	16	m.	m.	NOUN
dem-2899	210	17	zopoundis	zopoundis	PROPN
dem-2899	210	18	,	,	PUNCT
dem-2899	210	19	c.	c.	PROPN
dem-2899	210	20	(	(	PUNCT
dem-2899	210	21	2008	2008	NUM
dem-2899	210	22	)	)	PUNCT
dem-2899	210	23	,	,	PUNCT
dem-2899	210	24	country	country	NOUN
dem-2899	210	25	risk	risk	NOUN
dem-2899	210	26	evaluation	evaluation	NOUN
dem-2899	210	27	,	,	PUNCT
dem-2899	210	28	springer	springer	NOUN
dem-2899	210	29	.	.	PUNCT
dem-2899	211	1	lamoureux	lamoureux	PROPN
dem-2899	211	2	,	,	PUNCT
dem-2899	211	3	c.	c.	PROPN
dem-2899	211	4	g.	g.	PROPN
dem-2899	211	5	,	,	PUNCT
dem-2899	211	6	lastrapes	lastrapes	PROPN
dem-2899	211	7	,	,	PUNCT
dem-2899	211	8	w.	w.	PROPN
dem-2899	211	9	d.	d.	PROPN
dem-2899	211	10	(	(	PUNCT
dem-2899	211	11	1990	1990	NUM
dem-2899	211	12	)	)	PUNCT
dem-2899	211	13	,	,	PUNCT
dem-2899	211	14	heteroskedasticity	heteroskedasticity	NOUN
dem-2899	211	15	in	in	ADP
dem-2899	211	16	stock	stock	NOUN
dem-2899	211	17	return	return	NOUN
dem-2899	211	18	data	datum	NOUN
dem-2899	211	19	:	:	PUNCT
dem-2899	211	20	volume	volume	NOUN
dem-2899	211	21	versus	versus	ADP
dem-2899	211	22	garch	garch	NOUN
dem-2899	211	23	effects	effect	NOUN
dem-2899	211	24	,	,	PUNCT
dem-2899	211	25	journal	journal	NOUN
dem-2899	211	26	of	of	ADP
dem-2899	211	27	finance	finance	NOUN
dem-2899	211	28	,	,	PUNCT
dem-2899	211	29	45	45	NUM
dem-2899	211	30	,	,	PUNCT
dem-2899	211	31	220–229	220–229	NUM
dem-2899	211	32	,	,	PUNCT
dem-2899	211	33	doi	doi	NOUN
dem-2899	211	34	:	:	PUNCT
dem-2899	211	35	http://dx.doi.org/10.2307/2328817	http://dx.doi.org/10.2307/2328817	NOUN
dem-2899	211	36	.	.	PUNCT
dem-2899	212	1	laurent	laurent	PROPN
dem-2899	212	2	,	,	PUNCT
dem-2899	212	3	s.	s.	PROPN
dem-2899	212	4	,	,	PUNCT
dem-2899	212	5	peters	peters	PROPN
dem-2899	212	6	j.-p	j.-p	PROPN
dem-2899	212	7	.	.	PUNCT
dem-2899	213	1	(	(	PUNCT
dem-2899	213	2	2002	2002	NUM
dem-2899	213	3	)	)	PUNCT
dem-2899	213	4	,	,	PUNCT
dem-2899	213	5	g@rch	g@rch	VERB
dem-2899	213	6	2.2	2.2	NUM
dem-2899	213	7	:	:	PUNCT
dem-2899	213	8	an	an	DET
dem-2899	213	9	ox	ox	ADJ
dem-2899	213	10	package	package	NOUN
dem-2899	213	11	for	for	ADP
dem-2899	213	12	estimating	estimate	VERB
dem-2899	213	13	and	and	CCONJ
dem-2899	213	14	forecasting	forecast	VERB
dem-2899	213	15	various	various	ADJ
dem-2899	213	16	arch	arch	ADJ
dem-2899	213	17	models	model	NOUN
dem-2899	213	18	,	,	PUNCT
dem-2899	213	19	journal	journal	NOUN
dem-2899	213	20	of	of	ADP
dem-2899	213	21	economic	economic	ADJ
dem-2899	213	22	surveys	survey	NOUN
dem-2899	213	23	,	,	PUNCT
dem-2899	213	24	16	16	NUM
dem-2899	213	25	,	,	PUNCT
dem-2899	213	26	447–485	447–485	NUM
dem-2899	213	27	,	,	PUNCT
dem-2899	213	28	doi	doi	NOUN
dem-2899	213	29	:	:	PUNCT
dem-2899	213	30	http://dx.doi.org/10.1111/1467-6419.00174	http://dx.doi.org/10.1111/1467-6419.00174	PROPN
dem-2899	213	31	.	.	PUNCT
dem-2899	213	32	laurent	laurent	PROPN
dem-2899	213	33	,	,	PUNCT
dem-2899	213	34	s.	s.	PROPN
dem-2899	213	35	,	,	PUNCT
dem-2899	213	36	boudt	boudt	NOUN
dem-2899	213	37	,	,	PUNCT
dem-2899	213	38	k.	k.	PROPN
dem-2899	213	39	,	,	PUNCT
dem-2899	213	40	lahaye	lahaye	PROPN
dem-2899	213	41	,	,	PUNCT
dem-2899	213	42	j.	j.	PROPN
dem-2899	213	43	,	,	PUNCT
dem-2899	213	44	peters	peters	PROPN
dem-2899	213	45	,	,	PUNCT
dem-2899	213	46	j	j	PROPN
dem-2899	213	47	-	-	PROPN
dem-2899	213	48	p.	p.	PROPN
dem-2899	213	49	,	,	PUNCT
dem-2899	213	50	rombouts	rombout	NOUN
dem-2899	213	51	,	,	PUNCT
dem-2899	213	52	j.	j.	PROPN
dem-2899	213	53	,	,	PUNCT
dem-2899	213	54	violante	violante	NOUN
dem-2899	213	55	,	,	PUNCT
dem-2899	213	56	f.	f.	PROPN
dem-2899	213	57	(	(	PUNCT
dem-2899	213	58	2010	2010	NUM
dem-2899	213	59	)	)	PUNCT
dem-2899	213	60	g@rch	g@rch	VERB
dem-2899	213	61	6.1	6.1	NUM
dem-2899	213	62	.	.	PROPN
dem-2899	213	63	,	,	PUNCT
dem-2899	213	64	www.garch.org	www.garch.org	PROPN
dem-2899	213	65	.	.	PROPN
dem-2899	213	66	longstaff	longstaff	PROPN
dem-2899	213	67	f.	f.	PROPN
dem-2899	213	68	a.	a.	PROPN
dem-2899	213	69	,	,	PUNCT
dem-2899	213	70	mithal	mithal	PROPN
dem-2899	213	71	s.	s.	PROPN
dem-2899	213	72	,	,	PUNCT
dem-2899	213	73	neis	neis	PROPN
dem-2899	213	74	e.	e.	PROPN
dem-2899	213	75	(	(	PUNCT
dem-2899	213	76	2005	2005	NUM
dem-2899	213	77	)	)	PUNCT
dem-2899	213	78	,	,	PUNCT
dem-2899	213	79	corporate	corporate	ADJ
dem-2899	213	80	yield	yield	NOUN
dem-2899	213	81	spreads	spread	NOUN
dem-2899	213	82	:	:	PUNCT
dem-2899	213	83	default	default	NOUN
dem-2899	213	84	risk	risk	NOUN
dem-2899	213	85	or	or	CCONJ
dem-2899	213	86	liquidity	liquidity	NOUN
dem-2899	213	87	?	?	PUNCT
dem-2899	214	1	new	new	ADJ
dem-2899	214	2	evidence	evidence	NOUN
dem-2899	214	3	from	from	ADP
dem-2899	214	4	the	the	DET
dem-2899	214	5	credit	credit	NOUN
dem-2899	214	6	default	default	NOUN
dem-2899	214	7	swap	swap	NOUN
dem-2899	214	8	market	market	NOUN
dem-2899	214	9	,	,	PUNCT
dem-2899	214	10	the	the	DET
dem-2899	214	11	journal	journal	NOUN
dem-2899	214	12	of	of	ADP
dem-2899	214	13	finance	finance	NOUN
dem-2899	214	14	,	,	PUNCT
dem-2899	214	15	60	60	NUM
dem-2899	214	16	,	,	PUNCT
dem-2899	214	17	2213–2253	2213–2253	NUM
dem-2899	214	18	,	,	PUNCT
dem-2899	214	19	doi	doi	NOUN
dem-2899	214	20	:	:	PUNCT
dem-2899	214	21	http://dx.doi.org/10.1111/j.1540-6261.2005.00797.x	http://dx.doi.org/10.1111/j.1540-6261.2005.00797.x	NOUN
dem-2899	214	22	.	.	NOUN
dem-2899	214	23	longstaff	longstaff	PROPN
dem-2899	214	24	,	,	PUNCT
dem-2899	214	25	f.	f.	PROPN
dem-2899	214	26	a.	a.	PROPN
dem-2899	214	27	,	,	PUNCT
dem-2899	214	28	pan	pan	PROPN
dem-2899	214	29	,	,	PUNCT
dem-2899	214	30	j.	j.	PROPN
dem-2899	214	31	,	,	PUNCT
dem-2899	214	32	pedersen	pedersen	PROPN
dem-2899	214	33	,	,	PUNCT
dem-2899	214	34	l.	l.	PROPN
dem-2899	214	35	h.	h.	PROPN
dem-2899	214	36	,	,	PUNCT
dem-2899	214	37	singleton	singleton	PROPN
dem-2899	214	38	,	,	PUNCT
dem-2899	214	39	k.	k.	PROPN
dem-2899	214	40	j.	j.	PROPN
dem-2899	214	41	(	(	PUNCT
dem-2899	214	42	2011	2011	NUM
dem-2899	214	43	)	)	PUNCT
dem-2899	214	44	,	,	PUNCT
dem-2899	214	45	how	how	SCONJ
dem-2899	214	46	sovereign	sovereign	ADJ
dem-2899	214	47	is	be	AUX
dem-2899	214	48	sovereign	sovereign	ADJ
dem-2899	214	49	credit	credit	NOUN
dem-2899	214	50	risk	risk	NOUN
dem-2899	214	51	?	?	PUNCT
dem-2899	215	1	american	american	ADJ
dem-2899	215	2	economic	economic	ADJ
dem-2899	215	3	journal	journal	PROPN
dem-2899	215	4	:	:	PUNCT
dem-2899	215	5	macroeconomics	macroeconomic	NOUN
dem-2899	215	6	,	,	PUNCT
dem-2899	215	7	american	american	PROPN
dem-2899	215	8	economic	economic	PROPN
dem-2899	215	9	association	association	PROPN
dem-2899	215	10	,	,	PUNCT
dem-2899	215	11	3(2	3(2	NUM
dem-2899	215	12	)	)	PUNCT
dem-2899	215	13	,	,	PUNCT
dem-2899	215	14	75–103	75–103	NUM
dem-2899	215	15	,	,	PUNCT
dem-2899	215	16	doi	doi	NOUN
dem-2899	215	17	:	:	PUNCT
dem-2899	215	18	http://dx.doi.org/10.1257/mac.3.2.75	http://dx.doi.org/10.1257/mac.3.2.75	PROPN
dem-2899	215	19	.	.	PUNCT
dem-2899	216	1	pfaff	pfaff	PROPN
dem-2899	216	2	,	,	PUNCT
dem-2899	216	3	b.	b.	PROPN
dem-2899	216	4	(	(	PUNCT
dem-2899	216	5	2008a	2008a	NUM
dem-2899	216	6	)	)	PUNCT
dem-2899	216	7	,	,	PUNCT
dem-2899	216	8	var	var	NOUN
dem-2899	216	9	,	,	PUNCT
dem-2899	216	10	svar	svar	PROPN
dem-2899	216	11	and	and	CCONJ
dem-2899	216	12	svec	svec	NOUN
dem-2899	216	13	models	model	NOUN
dem-2899	216	14	:	:	PUNCT
dem-2899	216	15	implementation	implementation	NOUN
dem-2899	216	16	within	within	ADP
dem-2899	216	17	r	r	NOUN
dem-2899	216	18	package	package	NOUN
dem-2899	216	19	vars	var	NOUN
dem-2899	216	20	,	,	PUNCT
dem-2899	216	21	journal	journal	NOUN
dem-2899	216	22	of	of	ADP
dem-2899	216	23	statistical	statistical	ADJ
dem-2899	216	24	software	software	NOUN
dem-2899	216	25	,	,	PUNCT
dem-2899	216	26	27(4	27(4	PROPN
dem-2899	216	27	)	)	PUNCT
dem-2899	216	28	,	,	PUNCT
dem-2899	216	29	http://www.jstatsoft.org/v27/i04/	http://www.jstatsoft.org/v27/i04/	PROPN
dem-2899	216	30	,	,	PUNCT
dem-2899	216	31	(	(	PUNCT
dem-2899	216	32	01.08.2010	01.08.2010	NOUN
dem-2899	216	33	)	)	PUNCT
dem-2899	216	34	.	.	PUNCT
dem-2899	217	1	pfaff	pfaff	PROPN
dem-2899	217	2	,	,	PUNCT
dem-2899	217	3	b.	b.	PROPN
dem-2899	217	4	(	(	PUNCT
dem-2899	217	5	2008b	2008b	NUM
dem-2899	217	6	)	)	PUNCT
dem-2899	217	7	,	,	PUNCT
dem-2899	217	8	analysis	analysis	NOUN
dem-2899	217	9	of	of	ADP
dem-2899	217	10	integrated	integrated	ADJ
dem-2899	217	11	and	and	CCONJ
dem-2899	217	12	cointegrated	cointegrate	VERB
dem-2899	217	13	time	time	NOUN
dem-2899	217	14	series	series	PROPN
dem-2899	217	15	with	with	ADP
dem-2899	217	16	r.	r.	PROPN
dem-2899	217	17	second	second	PROPN
dem-2899	217	18	edition	edition	PROPN
dem-2899	217	19	,	,	PUNCT
dem-2899	217	20	springer	springer	NOUN
dem-2899	217	21	,	,	PUNCT
dem-2899	217	22	new	new	PROPN
dem-2899	217	23	york	york	PROPN
dem-2899	217	24	.	.	PUNCT
dem-2899	218	1	agata	agata	PROPN
dem-2899	218	2	kliber	kliber	PROPN
dem-2899	218	3	,	,	PUNCT
dem-2899	218	4	barbara	barbara	PROPN
dem-2899	218	5	będowska	będowska	PROPN
dem-2899	218	6	-	-	PUNCT
dem-2899	218	7	sójka	sójka	ADV
dem-2899	218	8	dynamic	dynamic	ADJ
dem-2899	218	9	econometric	econometric	ADJ
dem-2899	218	10	models	model	NOUN
dem-2899	218	11	13	13	NUM
dem-2899	218	12	(	(	PUNCT
dem-2899	218	13	2013	2013	NUM
dem-2899	218	14	)	)	PUNCT
dem-2899	218	15	87–106	87–106	PROPN
dem-2899	218	16	100	100	NUM
dem-2899	218	17	plank	plank	NOUN
dem-2899	218	18	,	,	PUNCT
dem-2899	218	19	t.	t.	PROPN
dem-2899	218	20	(	(	PUNCT
dem-2899	218	21	2010	2010	NUM
dem-2899	218	22	)	)	PUNCT
dem-2899	218	23	,	,	PUNCT
dem-2899	218	24	do	do	VERB
dem-2899	218	25	macro	macro	ADJ
dem-2899	218	26	-	-	ADJ
dem-2899	218	27	economic	economic	ADJ
dem-2899	218	28	fundamentals	fundamental	NOUN
dem-2899	218	29	price	price	VERB
dem-2899	218	30	emerging	emerge	VERB
dem-2899	218	31	market	market	NOUN
dem-2899	218	32	sovereign	sovereign	ADJ
dem-2899	218	33	cds	cd	NOUN
dem-2899	218	34	spreads	spread	NOUN
dem-2899	218	35	?	?	PUNCT
dem-2899	218	36	,	,	PUNCT
dem-2899	218	37	working	working	NOUN
dem-2899	218	38	paper	paper	NOUN
dem-2899	218	39	:	:	PUNCT
dem-2899	218	40	http://finance.wharton.upenn.edu/weiss/wpapers/2010/105.pdf	http://finance.wharton.upenn.edu/weiss/wpapers/2010/105.pdf	PROPN
dem-2899	218	41	,	,	PUNCT
dem-2899	218	42	(	(	PUNCT
dem-2899	218	43	10.06.2013	10.06.2013	NUM
dem-2899	218	44	)	)	PUNCT
dem-2899	218	45	.	.	PUNCT
dem-2899	219	1	sytuacja	sytuacja	PROPN
dem-2899	219	2	gospodarcza	gospodarcza	PROPN
dem-2899	219	3	kraju	kraju	PROPN
dem-2899	219	4	,	,	PUNCT
dem-2899	219	5	czy	czy	PROPN
dem-2899	219	6	oczekiwania	oczekiwania	PROPN
dem-2899	219	7	?	?	PUNCT
dem-2899	220	1	co	co	PROPN
dem-2899	221	1	decyduje	decyduje	ADJ
dem-2899	221	2	o	o	PROPN
dem-2899	221	3	dynamice	dynamice	PROPN
dem-2899	221	4	polskich	polskich	PROPN
dem-2899	221	5	kontraktów	kontraktów	PROPN
dem-2899	221	6	cds	cd	NOUN
dem-2899	221	7	?	?	PUNCT
dem-2899	222	1	z	z	NOUN
dem-2899	223	1	a	a	DET
dem-2899	223	2	r	r	NOUN
dem-2899	223	3	y	y	PROPN
dem-2899	223	4	s	s	PROPN
dem-2899	223	5	t	t	NOUN
dem-2899	223	6	r	r	NOUN
dem-2899	223	7	e	e	PROPN
dem-2899	223	8	ś	ś	PROPN
dem-2899	223	9	c	c	PROPN
dem-2899	223	10	i.	i.	PROPN
dem-2899	223	11	w	w	PROPN
dem-2899	223	12	artykule	artykule	PROPN
dem-2899	223	13	dokonano	dokonano	PROPN
dem-2899	223	14	analizy	analizy	PROPN
dem-2899	223	15	dynamiki	dynamiki	PROPN
dem-2899	223	16	kontraktów	kontraktów	PROPN
dem-2899	223	17	cds	cds	PROPN
dem-2899	223	18	(	(	PUNCT
dem-2899	223	19	credit	credit	NOUN
dem-2899	223	20	default	default	NOUN
dem-2899	223	21	swap	swap	NOUN
dem-2899	223	22	–	–	PUNCT
dem-2899	223	23	instrumentów	instrumentów	NOUN
dem-2899	223	24	zamiany	zamiany	NOUN
dem-2899	223	25	ryzyka	ryzyka	PROPN
dem-2899	223	26	kredytowego	kredytowego	PROPN
dem-2899	223	27	)	)	PUNCT
dem-2899	223	28	wystawianych	wystawianych	NOUN
dem-2899	223	29	na	na	NOUN
dem-2899	223	30	polskie	polskie	NOUN
dem-2899	223	31	euroobligacje	euroobligacje	NOUN
dem-2899	223	32	.	.	PUNCT
dem-2899	224	1	badanie	badanie	PROPN
dem-2899	224	2	dotyczy	dotyczy	PROPN
dem-2899	224	3	okresu	okresu	PROPN
dem-2899	224	4	2008	2008	NUM
dem-2899	224	5	-	-	SYM
dem-2899	224	6	2013	2013	NUM
dem-2899	224	7	.	.	PUNCT
dem-2899	225	1	celem	celem	PROPN
dem-2899	225	2	badania	badania	PROPN
dem-2899	225	3	jest	jest	PROPN
dem-2899	225	4	określenie	określenie	PROPN
dem-2899	225	5	,	,	PUNCT
dem-2899	225	6	czy	czy	PROPN
dem-2899	225	7	na	na	PROPN
dem-2899	225	8	dynamikę	dynamikę	PROPN
dem-2899	225	9	kontraktów	kontraktów	PROPN
dem-2899	225	10	wpływ	wpływ	PROPN
dem-2899	225	11	mają	mają	PROPN
dem-2899	225	12	wydarzenia	wydarzenia	PROPN
dem-2899	225	13	międzynarodowe	międzynarodowe	PROPN
dem-2899	225	14	,	,	PUNCT
dem-2899	225	15	czy	czy	PROPN
dem-2899	225	16	też	też	PROPN
dem-2899	225	17	krajowe	krajowe	PROPN
dem-2899	225	18	,	,	PUNCT
dem-2899	225	19	a	a	DET
dem-2899	225	20	w	w	NOUN
dem-2899	225	21	rezultacie	rezultacie	NOUN
dem-2899	225	22	,	,	PUNCT
dem-2899	225	23	czy	czy	PROPN
dem-2899	225	24	spread	spread	PROPN
dem-2899	225	25	kontraktów	kontraktów	PROPN
dem-2899	225	26	,	,	PUNCT
dem-2899	225	27	interpretowany	interpretowany	PROPN
dem-2899	225	28	jako	jako	PROPN
dem-2899	225	29	wskaźnik	wskaźnik	PROPN
dem-2899	225	30	ryzyka	ryzyka	PROPN
dem-2899	225	31	danego	danego	ADJ
dem-2899	225	32	kraju	kraju	NOUN
dem-2899	225	33	,	,	PUNCT
dem-2899	225	34	faktycznie	faktycznie	VERB
dem-2899	225	35	to	to	PART
dem-2899	225	36	ryzyko	ryzyko	NOUN
dem-2899	225	37	odzwierciedla	odzwierciedla	NOUN
dem-2899	225	38	.	.	PUNCT
dem-2899	226	1	na	na	PART
dem-2899	226	2	podstawie	podstawie	PROPN
dem-2899	226	3	uzyskanych	uzyskanych	PROPN
dem-2899	226	4	wyników	wyników	PROPN
dem-2899	226	5	można	można	PROPN
dem-2899	226	6	stwierdzić	stwierdzić	PROPN
dem-2899	226	7	,	,	PUNCT
dem-2899	226	8	że	że	PROPN
dem-2899	226	9	do	do	VERB
dem-2899	226	10	opisu	opisu	ADV
dem-2899	226	11	dynamiki	dynamiki	PROPN
dem-2899	227	1	i	i	PROPN
dem-2899	227	2	zmienności	zmienności	NOUN
dem-2899	227	3	kontraktów	kontraktów	PROPN
dem-2899	227	4	cds	cds	PROPN
dem-2899	227	5	wystarczy	wystarczy	PROPN
dem-2899	227	6	model	model	PROPN
dem-2899	227	7	ze	ze	PROPN
dem-2899	227	8	zmiennymi	zmiennymi	PROPN
dem-2899	227	9	reprezentującymi	reprezentującymi	PROPN
dem-2899	227	10	ryzyko	ryzyko	PROPN
dem-2899	227	11	krajów	krajów	PROPN
dem-2899	227	12	sąsiadujących	sąsiadujących	PROPN
dem-2899	227	13	,	,	PUNCT
dem-2899	227	14	nie	nie	PROPN
dem-2899	227	15	uwzględniający	uwzględniający	PROPN
dem-2899	227	16	wielkości	wielkości	PROPN
dem-2899	227	17	związanych	związanych	PROPN
dem-2899	227	18	z	z	PROPN
dem-2899	227	19	jego	jego	PROPN
dem-2899	227	20	gospodarką	gospodarką	PROPN
dem-2899	227	21	.	.	PUNCT
dem-2899	228	1	s	s	PART
dem-2899	228	2	ł	ł	PROPN
dem-2899	228	3	o	o	X
dem-2899	228	4	w	w	NOUN
dem-2899	228	5	a	a	DET
dem-2899	228	6	k	k	X
dem-2899	228	7	l	l	NOUN
dem-2899	228	8	u	u	NOUN
dem-2899	229	1	c	c	NOUN
dem-2899	229	2	z	z	NOUN
dem-2899	229	3	o	o	X
dem-2899	229	4	w	w	PROPN
dem-2899	230	1	e	e	NOUN
dem-2899	230	2	:	:	PUNCT
dem-2899	230	3	cds	cd	NOUN
dem-2899	230	4	,	,	PUNCT
dem-2899	230	5	obligacje	obligacje	ADJ
dem-2899	230	6	,	,	PUNCT
dem-2899	230	7	indeksy	indeksy	ADJ
dem-2899	230	8	giełdowe	giełdowe	NOUN
dem-2899	230	9	,	,	PUNCT
dem-2899	230	10	kurs	kur	NOUN
dem-2899	230	11	walutowy	walutowy	ADJ
dem-2899	230	12	,	,	PUNCT
dem-2899	230	13	zmienność	zmienność	NOUN
dem-2899	230	14	,	,	PUNCT
dem-2899	230	15	przenoszenie	przenoszenie	PROPN
dem-2899	230	16	zmienności	zmienności	PROPN
dem-2899	230	17	,	,	PUNCT
dem-2899	230	18	analiza	analiza	NOUN
dem-2899	230	19	zdarzeń	zdarzeń	PROPN
dem-2899	230	20	.	.	PUNCT
dem-2899	231	1	economic	economic	ADJ
dem-2899	231	2	situation	situation	NOUN
dem-2899	231	3	of	of	ADP
dem-2899	231	4	the	the	DET
dem-2899	231	5	country	country	NOUN
dem-2899	231	6	or	or	CCONJ
dem-2899	231	7	risk	risk	NOUN
dem-2899	231	8	in	in	ADP
dem-2899	231	9	the	the	DET
dem-2899	231	10	world	world	NOUN
dem-2899	231	11	financial	financial	ADJ
dem-2899	231	12	market	market	NOUN
dem-2899	231	13	?	?	PUNCT
dem-2899	231	14	...	...	PUNCT
dem-2899	232	1	dynamic	dynamic	ADJ
dem-2899	232	2	econometric	econometric	ADJ
dem-2899	232	3	models	model	NOUN
dem-2899	232	4	13	13	NUM
dem-2899	232	5	(	(	PUNCT
dem-2899	232	6	2013	2013	NUM
dem-2899	232	7	)	)	PUNCT
dem-2899	232	8	87–106	87–106	PROPN
dem-2899	232	9	101	101	NUM
dem-2899	232	10	appendix	appendix	VERB
dem-2899	232	11	1	1	NUM
dem-2899	232	12	–	–	PUNCT
dem-2899	232	13	tables	table	NOUN
dem-2899	232	14	table	table	NOUN
dem-2899	232	15	1	1	NUM
dem-2899	232	16	.	.	PUNCT
dem-2899	232	17	estimates	estimate	NOUN
dem-2899	232	18	of	of	ADP
dem-2899	232	19	the	the	DET
dem-2899	232	20	unrestricted	unrestricted	ADJ
dem-2899	232	21	var	var	NOUN
dem-2899	232	22	model	model	NOUN
dem-2899	232	23	for	for	ADP
dem-2899	232	24	polish	polish	ADJ
dem-2899	232	25	scds	scds	NOUN
dem-2899	232	26	,	,	PUNCT
dem-2899	232	27	bond	bond	NOUN
dem-2899	232	28	spread	spread	NOUN
dem-2899	232	29	,	,	PUNCT
dem-2899	232	30	exchange	exchange	NOUN
dem-2899	232	31	rate	rate	NOUN
dem-2899	232	32	,	,	PUNCT
dem-2899	232	33	wig	wig	NOUN
dem-2899	232	34	and	and	CCONJ
dem-2899	232	35	its	its	PRON
dem-2899	232	36	volume	volume	NOUN
dem-2899	232	37	dependent	dependent	ADJ
dem-2899	232	38	variable	variable	ADJ
dem-2899	232	39	explanatory	explanatory	ADJ
dem-2899	232	40	variable	variable	ADJ
dem-2899	232	41	coeff	coeff	PROPN
dem-2899	232	42	.	.	PUNCT
dem-2899	233	1	standard	standard	ADJ
dem-2899	233	2	error	error	NOUN
dem-2899	233	3	cds	cd	NOUN
dem-2899	233	4	cds(–1	cds(–1	PART
dem-2899	233	5	)	)	PUNCT
dem-2899	233	6	0.0011	0.0011	NUM
dem-2899	233	7	0.0359	0.0359	NUM
dem-2899	233	8	wig(–1	wig(–1	PROPN
dem-2899	233	9	)	)	PUNCT
dem-2899	233	10	–	–	PUNCT
dem-2899	233	11	0.3740	0.3740	NUM
dem-2899	233	12	0.1062	0.1062	NUM
dem-2899	233	13	vol(–1	vol(–1	NUM
dem-2899	233	14	)	)	PUNCT
dem-2899	233	15	–	–	PUNCT
dem-2899	233	16	0.0029	0.0029	NUM
dem-2899	233	17	0.0022	0.0022	NUM
dem-2899	233	18	bond(–1	bond(–1	NUM
dem-2899	233	19	)	)	PUNCT
dem-2899	233	20	0.2365	0.2365	NUM
dem-2899	233	21	0.0571	0.0571	NUM
dem-2899	233	22	plnusd(–1	plnusd(–1	NUM
dem-2899	233	23	)	)	PUNCT
dem-2899	233	24	–	–	PUNCT
dem-2899	233	25	0.0004	0.0004	NUM
dem-2899	233	26	0.1110	0.1110	NUM
dem-2899	233	27	const	const	NOUN
dem-2899	233	28	–	–	PUNCT
dem-2899	233	29	0.0006	0.0006	NUM
dem-2899	233	30	0.0012	0.0012	NUM
dem-2899	233	31	wig	wig	NOUN
dem-2899	233	32	cds(–1	cds(–1	PROPN
dem-2899	233	33	)	)	PUNCT
dem-2899	233	34	0.0078	0.0078	NUM
dem-2899	233	35	0.0121	0.0121	NUM
dem-2899	234	1	wig(–1	wig(–1	PROPN
dem-2899	234	2	)	)	PUNCT
dem-2899	234	3	0.0790	0.0790	NUM
dem-2899	234	4	0.0358	0.0358	NUM
dem-2899	234	5	vol(–1	vol(–1	NUM
dem-2899	234	6	)	)	PUNCT
dem-2899	234	7	–	–	PUNCT
dem-2899	234	8	0.0014	0.0014	NUM
dem-2899	234	9	0.0007	0.0007	NUM
dem-2899	234	10	bond(–1	bond(–1	NUM
dem-2899	234	11	)	)	PUNCT
dem-2899	234	12	–	–	PUNCT
dem-2899	234	13	0.0408	0.0408	NUM
dem-2899	234	14	0.0193	0.0193	NUM
dem-2899	234	15	plnusd(–1	plnusd(–1	NOUN
dem-2899	234	16	)	)	PUNCT
dem-2899	234	17	–	–	PUNCT
dem-2899	234	18	0.0131	0.0131	NUM
dem-2899	234	19	0.0375	0.0375	NUM
dem-2899	234	20	const	const	NOUN
dem-2899	234	21	0.0004	0.0004	NUM
dem-2899	234	22	0.0004	0.0004	NUM
dem-2899	234	23	volume	volume	NOUN
dem-2899	234	24	(	(	PUNCT
dem-2899	234	25	wig	wig	NOUN
dem-2899	234	26	)	)	PUNCT
dem-2899	234	27	cds(–1	cds(–1	PROPN
dem-2899	234	28	)	)	PUNCT
dem-2899	234	29	0.3037	0.3037	NUM
dem-2899	234	30	0.4480	0.4480	NUM
dem-2899	234	31	wig(–1	wig(–1	PROPN
dem-2899	234	32	)	)	PUNCT
dem-2899	234	33	0.8220	0.8220	NUM
dem-2899	234	34	1.3266	1.3266	NUM
dem-2899	234	35	vol(–1	vol(–1	NUM
dem-2899	234	36	)	)	PUNCT
dem-2899	234	37	–	–	PUNCT
dem-2899	234	38	0.3923	0.3923	NUM
dem-2899	234	39	0.0272	0.0272	NUM
dem-2899	234	40	bond(–1	bond(–1	PROPN
dem-2899	234	41	)	)	PUNCT
dem-2899	234	42	0.1560	0.1560	NUM
dem-2899	234	43	0.7137	0.7137	NUM
dem-2899	234	44	plnusd(–1	plnusd(–1	NUM
dem-2899	234	45	)	)	PUNCT
dem-2899	234	46	–	–	PUNCT
dem-2899	234	47	2.8653	2.8653	NUM
dem-2899	234	48	1.3867	1.3867	NUM
dem-2899	234	49	const	const	NOUN
dem-2899	234	50	0.0004	0.0004	NUM
dem-2899	234	51	0.0146	0.0146	NUM
dem-2899	234	52	bond	bond	NOUN
dem-2899	234	53	spread	spread	VERB
dem-2899	234	54	cds(–1	cds(–1	PROPN
dem-2899	234	55	)	)	PUNCT
dem-2899	234	56	–	–	PUNCT
dem-2899	234	57	0.0060	0.0060	NUM
dem-2899	234	58	0.0220	0.0220	NUM
dem-2899	234	59	wig(–1	wig(–1	PROPN
dem-2899	234	60	)	)	PUNCT
dem-2899	234	61	0.1329	0.1329	NUM
dem-2899	234	62	0.0651	0.0651	NUM
dem-2899	234	63	vol(–1	vol(–1	NUM
dem-2899	234	64	)	)	PUNCT
dem-2899	234	65	–	–	PUNCT
dem-2899	234	66	0.0010	0.0010	NUM
dem-2899	234	67	0.0013	0.0013	NUM
dem-2899	234	68	bond(–1	bond(–1	PROPN
dem-2899	234	69	)	)	PUNCT
dem-2899	234	70	0.0910	0.0910	NUM
dem-2899	234	71	0.0350	0.0350	NUM
dem-2899	234	72	plnusd(–1	plnusd(–1	NOUN
dem-2899	234	73	)	)	PUNCT
dem-2899	234	74	0.0277	0.0277	NUM
dem-2899	234	75	0.0681	0.0681	NUM
dem-2899	234	76	const	const	NOUN
dem-2899	234	77	–	–	PUNCT
dem-2899	234	78	0.0003	0.0003	NUM
dem-2899	234	79	0.0007	0.0007	NUM
dem-2899	234	80	pln	pln	NOUN
dem-2899	234	81	/	/	SYM
dem-2899	234	82	usd	usd	NOUN
dem-2899	234	83	cds(–1	cds(–1	PROPN
dem-2899	234	84	)	)	PUNCT
dem-2899	234	85	–	–	PUNCT
dem-2899	234	86	0.0240	0.0240	NUM
dem-2899	234	87	0.0108	0.0108	NUM
dem-2899	234	88	wig(–1	wig(–1	PROPN
dem-2899	234	89	)	)	PUNCT
dem-2899	234	90	0.1525	0.1525	NUM
dem-2899	234	91	0.0319	0.0319	NUM
dem-2899	234	92	vol(–1	vol(–1	NUM
dem-2899	234	93	)	)	PUNCT
dem-2899	234	94	0.0007	0.0007	NUM
dem-2899	234	95	0.0007	0.0007	NUM
dem-2899	234	96	bond(–1	bond(–1	NUM
dem-2899	234	97	)	)	PUNCT
dem-2899	234	98	–	–	PUNCT
dem-2899	234	99	0.0669	0.0669	NUM
dem-2899	234	100	0.0172	0.0172	NUM
dem-2899	234	101	plnusd(–1	plnusd(–1	PROPN
dem-2899	234	102	)	)	PUNCT
dem-2899	234	103	–	–	PUNCT
dem-2899	234	104	0.2078	0.2078	NUM
dem-2899	234	105	0.0333	0.0333	NUM
dem-2899	234	106	const	const	NOUN
dem-2899	234	107	–	–	PUNCT
dem-2899	234	108	0.0003	0.0003	NUM
dem-2899	234	109	0.0004	0.0004	NUM
dem-2899	234	110	note	note	NOUN
dem-2899	234	111	:	:	PUNCT
dem-2899	234	112	the	the	DET
dem-2899	234	113	bolded	bolde	VERB
dem-2899	234	114	parameters	parameter	NOUN
dem-2899	234	115	are	be	AUX
dem-2899	234	116	statistically	statistically	ADV
dem-2899	234	117	significant	significant	ADJ
dem-2899	234	118	at	at	ADP
dem-2899	234	119	α=0.05	α=0.05	NOUN
dem-2899	234	120	.	.	PUNCT
dem-2899	235	1	cds(–1	cds(–1	PART
dem-2899	235	2	)	)	PUNCT
dem-2899	236	1	denotes	denote	VERB
dem-2899	236	2	the	the	DET
dem-2899	236	3	lagged	lag	VERB
dem-2899	236	4	change	change	NOUN
dem-2899	236	5	of	of	ADP
dem-2899	236	6	cds	cd	NOUN
dem-2899	236	7	,	,	PUNCT
dem-2899	236	8	wig(–1	wig(–1	PROPN
dem-2899	236	9	)	)	PUNCT
dem-2899	236	10	–	–	PUNCT
dem-2899	236	11	lagged	lag	VERB
dem-2899	236	12	change	change	NOUN
dem-2899	236	13	of	of	ADP
dem-2899	236	14	wig	wig	NOUN
dem-2899	236	15	,	,	PUNCT
dem-2899	236	16	vol(–1	vol(–1	PROPN
dem-2899	236	17	)	)	PUNCT
dem-2899	236	18	–	–	PUNCT
dem-2899	236	19	lagged	lag	VERB
dem-2899	236	20	volume	volume	NOUN
dem-2899	236	21	,	,	PUNCT
dem-2899	236	22	bond(–1	bond(–1	PROPN
dem-2899	236	23	)	)	PUNCT
dem-2899	236	24	–	–	PUNCT
dem-2899	236	25	lagged	lag	VERB
dem-2899	236	26	change	change	NOUN
dem-2899	236	27	of	of	ADP
dem-2899	236	28	bond	bond	NOUN
dem-2899	236	29	,	,	PUNCT
dem-2899	236	30	plnusd(–1	plnusd(–1	NOUN
dem-2899	236	31	)	)	PUNCT
dem-2899	236	32	–	–	PUNCT
dem-2899	236	33	laggech	laggech	NOUN
dem-2899	236	34	change	change	NOUN
dem-2899	236	35	of	of	ADP
dem-2899	236	36	exchange	exchange	NOUN
dem-2899	236	37	rate	rate	NOUN
dem-2899	236	38	,	,	PUNCT
dem-2899	236	39	while	while	SCONJ
dem-2899	236	40	const	const	ADJ
dem-2899	236	41	–	–	PUNCT
dem-2899	236	42	a	a	DET
dem-2899	236	43	constant	constant	ADJ
dem-2899	236	44	.	.	PUNCT
dem-2899	237	1	agata	agata	PROPN
dem-2899	237	2	kliber	kliber	PROPN
dem-2899	237	3	,	,	PUNCT
dem-2899	237	4	barbara	barbara	PROPN
dem-2899	237	5	będowska	będowska	PROPN
dem-2899	237	6	-	-	PUNCT
dem-2899	237	7	sójka	sójka	ADV
dem-2899	237	8	dynamic	dynamic	ADJ
dem-2899	237	9	econometric	econometric	ADJ
dem-2899	237	10	models	model	NOUN
dem-2899	237	11	13	13	NUM
dem-2899	237	12	(	(	PUNCT
dem-2899	237	13	2013	2013	NUM
dem-2899	237	14	)	)	PUNCT
dem-2899	237	15	87–106	87–106	PROPN
dem-2899	237	16	102	102	NUM
dem-2899	237	17	table	table	NOUN
dem-2899	237	18	2	2	NUM
dem-2899	237	19	.	.	PUNCT
dem-2899	237	20	estimates	estimate	NOUN
dem-2899	237	21	of	of	ADP
dem-2899	237	22	the	the	DET
dem-2899	237	23	dcc	dcc	PROPN
dem-2899	237	24	–	–	PUNCT
dem-2899	237	25	engle	engle	NOUN
dem-2899	237	26	model	model	NOUN
dem-2899	237	27	–	–	PUNCT
dem-2899	237	28	univariate	univariate	ADJ
dem-2899	237	29	garch	garch	NOUN
dem-2899	237	30	models	model	NOUN
dem-2899	237	31	and	and	CCONJ
dem-2899	237	32	conditional	conditional	ADJ
dem-2899	237	33	correlations	correlation	NOUN
dem-2899	237	34	variable	variable	ADJ
dem-2899	237	35	coefficient	coefficient	VERB
dem-2899	237	36	std.error	std.error	NOUN
dem-2899	237	37	cds	cd	NOUN
dem-2899	237	38	ω	ω	NOUN
dem-2899	237	39	x	x	SYM
dem-2899	237	40	10	10	NUM
dem-2899	237	41	^	^	SYM
dem-2899	237	42	4	4	NUM
dem-2899	237	43	0.3946	0.3946	NUM
dem-2899	237	44	0.1872	0.1872	NUM
dem-2899	237	45	α	α	NOUN
dem-2899	237	46	0.1082	0.1082	NUM
dem-2899	237	47	0.0301	0.0301	NUM
dem-2899	237	48	β	β	NOUN
dem-2899	237	49	0.8680	0.8680	NUM
dem-2899	237	50	0.0304	0.0304	NUM
dem-2899	237	51	wig	wig	NOUN
dem-2899	237	52	ω	ω	NOUN
dem-2899	237	53	x	x	SYM
dem-2899	237	54	10	10	NUM
dem-2899	237	55	^	^	SYM
dem-2899	237	56	4	4	NUM
dem-2899	237	57	0.0103	0.0103	NUM
dem-2899	237	58	0.0052	0.0052	NUM
dem-2899	237	59	α	α	PRON
dem-2899	237	60	0.0674	0.0674	NUM
dem-2899	237	61	0.0128	0.0128	NUM
dem-2899	237	62	β	β	X
dem-2899	237	63	0.9259	0.9259	NUM
dem-2899	237	64	0.0130	0.0130	NUM
dem-2899	237	65	volume	volume	NOUN
dem-2899	237	66	ω	ω	PROPN
dem-2899	237	67	0.0098	0.0098	NUM
dem-2899	237	68	0.0114	0.0114	NUM
dem-2899	237	69	α	α	NOUN
dem-2899	237	70	0.0536	0.0536	NUM
dem-2899	237	71	0.0362	0.0362	NUM
dem-2899	237	72	β	β	NOUN
dem-2899	237	73	0.9062	0.9062	NUM
dem-2899	237	74	0.0808	0.0808	NUM
dem-2899	237	75	bond	bond	NOUN
dem-2899	237	76	spread	spread	VERB
dem-2899	237	77	ω	ω	NOUN
dem-2899	237	78	x	x	SYM
dem-2899	237	79	10	10	NUM
dem-2899	237	80	^	^	SYM
dem-2899	237	81	4	4	NUM
dem-2899	237	82	0.1408	0.1408	NUM
dem-2899	237	83	0.0582	0.0582	NUM
dem-2899	237	84	α	α	NOUN
dem-2899	237	85	0.0885	0.0885	NUM
dem-2899	237	86	0.0217	0.0217	NUM
dem-2899	237	87	β	β	ADP
dem-2899	237	88	0.8878	0.8878	NUM
dem-2899	237	89	0.0254	0.0254	NUM
dem-2899	237	90	exchange	exchange	NOUN
dem-2899	237	91	rate	rate	NOUN
dem-2899	237	92	ω	ω	NOUN
dem-2899	237	93	x	x	SYM
dem-2899	237	94	10	10	NUM
dem-2899	237	95	^	^	SYM
dem-2899	237	96	4	4	NUM
dem-2899	237	97	0.0217	0.0217	NUM
dem-2899	237	98	0.0103	0.0103	NUM
dem-2899	237	99	α	α	NOUN
dem-2899	237	100	0.0705	0.0705	NUM
dem-2899	237	101	0.0208	0.0208	NUM
dem-2899	237	102	β	β	ADP
dem-2899	237	103	0.9123	0.9123	NUM
dem-2899	237	104	0.0230	0.0230	NUM
dem-2899	237	105	correlations	correlation	NOUN
dem-2899	237	106	ρ_(cds	ρ_(cd	NOUN
dem-2899	237	107	,	,	PUNCT
dem-2899	237	108	wig	wig	NOUN
dem-2899	237	109	)	)	PUNCT
dem-2899	237	110	–	–	PUNCT
dem-2899	237	111	0.4638	0.4638	NUM
dem-2899	237	112	0.0350	0.0350	NUM
dem-2899	237	113	ρ_(cds	ρ_(cds	ADJ
dem-2899	237	114	,	,	PUNCT
dem-2899	237	115	volume	volume	NOUN
dem-2899	237	116	)	)	PUNCT
dem-2899	237	117	–	–	PUNCT
dem-2899	237	118	0.0081	0.0081	NUM
dem-2899	237	119	0.0449	0.0449	NUM
dem-2899	237	120	ρ_(cds	ρ_(cds	ADJ
dem-2899	237	121	,	,	PUNCT
dem-2899	237	122	bond	bond	NOUN
dem-2899	237	123	)	)	PUNCT
dem-2899	237	124	0.4456	0.4456	NUM
dem-2899	237	125	0.0359	0.0359	NUM
dem-2899	237	126	ρ_(cds	ρ_(cds	NUM
dem-2899	237	127	,	,	PUNCT
dem-2899	237	128	exr	exr	PROPN
dem-2899	237	129	)	)	PUNCT
dem-2899	237	130	–	–	PUNCT
dem-2899	237	131	0.4216	0.4216	NUM
dem-2899	237	132	0.0364	0.0364	NUM
dem-2899	237	133	ρ_(wig	ρ_(wig	NOUN
dem-2899	237	134	,	,	PUNCT
dem-2899	237	135	volume	volume	NOUN
dem-2899	237	136	)	)	PUNCT
dem-2899	237	137	0.0145	0.0145	NUM
dem-2899	237	138	0.0440	0.0440	NUM
dem-2899	237	139	ρ_(wig	ρ_(wig	NOUN
dem-2899	237	140	,	,	PUNCT
dem-2899	237	141	bond	bond	NOUN
dem-2899	237	142	)	)	PUNCT
dem-2899	237	143	–	–	PUNCT
dem-2899	237	144	0.4154	0.4154	NUM
dem-2899	237	145	0.0363	0.0363	NUM
dem-2899	237	146	ρ_(wig	ρ_(wig	NUM
dem-2899	237	147	,	,	PUNCT
dem-2899	237	148	exr	exr	PROPN
dem-2899	237	149	)	)	PUNCT
dem-2899	237	150	0.3613	0.3613	NUM
dem-2899	237	151	0.0388	0.0388	NUM
dem-2899	237	152	ρ_(volume	ρ_(volume	ADJ
dem-2899	237	153	,	,	PUNCT
dem-2899	237	154	bond	bond	NOUN
dem-2899	237	155	)	)	PUNCT
dem-2899	237	156	0.0036	0.0036	NUM
dem-2899	237	157	0.0415	0.0415	NUM
dem-2899	237	158	ρ_(volume	ρ_(volume	ADJ
dem-2899	237	159	,	,	PUNCT
dem-2899	237	160	exr	exr	PROPN
dem-2899	237	161	)	)	PUNCT
dem-2899	237	162	0.0031	0.0031	PROPN
dem-2899	237	163	0.0437	0.0437	NUM
dem-2899	237	164	ρ_(bond	ρ_(bond	PROPN
dem-2899	237	165	,	,	PUNCT
dem-2899	237	166	exr	exr	PROPN
dem-2899	237	167	)	)	PUNCT
dem-2899	237	168	–	–	PUNCT
dem-2899	237	169	0.3329	0.3329	NUM
dem-2899	237	170	0.0377	0.0377	NUM
dem-2899	237	171	a	a	DET
dem-2899	237	172	0.0160	0.0160	NUM
dem-2899	237	173	0.0040	0.0040	NUM
dem-2899	237	174	b	b	PROPN
dem-2899	237	175	0.9554	0.9554	NUM
dem-2899	237	176	0.0154	0.0154	NUM
dem-2899	237	177	df	df	PROPN
dem-2899	237	178	11.1557	11.1557	NUM
dem-2899	237	179	1.1568	1.1568	NUM
dem-2899	237	180	note	note	NOUN
dem-2899	237	181	:	:	PUNCT
dem-2899	237	182	the	the	DET
dem-2899	237	183	bolded	bolde	VERB
dem-2899	237	184	parameters	parameter	NOUN
dem-2899	237	185	are	be	AUX
dem-2899	237	186	statistically	statistically	ADV
dem-2899	237	187	significant	significant	ADJ
dem-2899	237	188	at	at	ADP
dem-2899	237	189	α=0.05	α=0.05	NOUN
dem-2899	237	190	.	.	PUNCT
dem-2899	238	1	all	all	DET
dem-2899	238	2	the	the	DET
dem-2899	238	3	parameters	parameter	NOUN
dem-2899	238	4	named	name	VERB
dem-2899	238	5	according	accord	VERB
dem-2899	238	6	to	to	ADP
dem-2899	238	7	formulas	formula	NOUN
dem-2899	238	8	(	(	PUNCT
dem-2899	238	9	3	3	NUM
dem-2899	238	10	)	)	PUNCT
dem-2899	238	11	and	and	CCONJ
dem-2899	238	12	(	(	PUNCT
dem-2899	238	13	4	4	NUM
dem-2899	238	14	)	)	PUNCT
dem-2899	238	15	in	in	ADP
dem-2899	238	16	appendix	appendix	NOUN
dem-2899	238	17	2	2	NUM
dem-2899	238	18	.	.	PUNCT
dem-2899	238	19	economic	economic	ADJ
dem-2899	238	20	situation	situation	NOUN
dem-2899	238	21	of	of	ADP
dem-2899	238	22	the	the	DET
dem-2899	238	23	country	country	NOUN
dem-2899	238	24	or	or	CCONJ
dem-2899	238	25	risk	risk	NOUN
dem-2899	238	26	in	in	ADP
dem-2899	238	27	the	the	DET
dem-2899	238	28	world	world	NOUN
dem-2899	238	29	financial	financial	ADJ
dem-2899	238	30	market	market	NOUN
dem-2899	238	31	?	?	PUNCT
dem-2899	238	32	...	...	PUNCT
dem-2899	239	1	dynamic	dynamic	ADJ
dem-2899	239	2	econometric	econometric	ADJ
dem-2899	239	3	models	model	NOUN
dem-2899	239	4	13	13	NUM
dem-2899	239	5	(	(	PUNCT
dem-2899	239	6	2013	2013	NUM
dem-2899	239	7	)	)	PUNCT
dem-2899	239	8	87–106	87–106	PROPN
dem-2899	239	9	103	103	NUM
dem-2899	239	10	table	table	NOUN
dem-2899	239	11	3	3	NUM
dem-2899	239	12	.	.	PUNCT
dem-2899	239	13	principal	principal	ADJ
dem-2899	239	14	component	component	NOUN
dem-2899	239	15	analysis	analysis	NOUN
dem-2899	239	16	–	–	PUNCT
dem-2899	239	17	bond	bond	NOUN
dem-2899	239	18	spread	spread	NOUN
dem-2899	239	19	.	.	PUNCT
dem-2899	240	1	components	component	NOUN
dem-2899	240	2	loadings	loading	NOUN
dem-2899	240	3	and	and	CCONJ
dem-2899	240	4	explanatory	explanatory	ADJ
dem-2899	240	5	power	power	NOUN
dem-2899	240	6	of	of	ADP
dem-2899	240	7	the	the	DET
dem-2899	240	8	variance	variance	NOUN
dem-2899	240	9	of	of	ADP
dem-2899	240	10	the	the	DET
dem-2899	240	11	system	system	NOUN
dem-2899	240	12	pc1	pc1	PROPN
dem-2899	240	13	pc2	pc2	PROPN
dem-2899	240	14	pc3	pc3	PROPN
dem-2899	240	15	pc4	pc4	PROPN
dem-2899	240	16	pc5	pc5	NOUN
dem-2899	240	17	pc6	pc6	NOUN
dem-2899	240	18	hu.spread	hu.spread	VERB
dem-2899	240	19	0.3204	0.3204	NUM
dem-2899	240	20	–	–	PUNCT
dem-2899	240	21	0.4507	0.4507	NUM
dem-2899	240	22	–	–	PUNCT
dem-2899	240	23	0.7563	0.7563	NUM
dem-2899	240	24	0.0408	0.0408	NUM
dem-2899	240	25	–	–	PUNCT
dem-2899	240	26	0.3473	0.3473	NUM
dem-2899	240	27	–	–	PUNCT
dem-2899	240	28	0.0056	0.0056	NUM
dem-2899	240	29	esp.spread	esp.spread	VERB
dem-2899	240	30	0.5082	0.5082	NUM
dem-2899	240	31	–	–	PUNCT
dem-2899	240	32	0.1212	0.1212	NUM
dem-2899	240	33	–	–	PUNCT
dem-2899	240	34	0.0171	0.0171	NUM
dem-2899	240	35	0.1036	0.1036	NUM
dem-2899	240	36	0.6836	0.6836	NUM
dem-2899	240	37	–	–	PUNCT
dem-2899	240	38	0.4987	0.4987	NUM
dem-2899	240	39	fr.spread	fr.spread	NOUN
dem-2899	240	40	0.5409	0.5409	NUM
dem-2899	240	41	–	–	PUNCT
dem-2899	240	42	0.1180	0.1180	NUM
dem-2899	240	43	0.2363	0.2363	NUM
dem-2899	240	44	0.1014	0.1014	NUM
dem-2899	240	45	0.1367	0.1367	NUM
dem-2899	240	46	0.7802	0.7802	NUM
dem-2899	240	47	uk.spread	uk.spread	NOUN
dem-2899	240	48	0.1981	0.1981	NUM
dem-2899	240	49	0.7156	0.7156	NUM
dem-2899	240	50	–	–	PUNCT
dem-2899	240	51	0.2518	0.2518	NUM
dem-2899	240	52	0.6077	0.6077	NUM
dem-2899	240	53	–	–	PUNCT
dem-2899	240	54	0.1260	0.1260	NUM
dem-2899	240	55	–	–	PUNCT
dem-2899	240	56	0.0097	0.0097	NUM
dem-2899	240	57	sve.spread	sve.spread	VERB
dem-2899	240	58	0.3007	0.3007	NUM
dem-2899	240	59	0.5036	0.5036	NUM
dem-2899	240	60	–	–	PUNCT
dem-2899	240	61	0.2166	0.2166	NUM
dem-2899	240	62	–	–	PUNCT
dem-2899	240	63	0.7796	0.7796	NUM
dem-2899	240	64	0.0033	0.0033	NUM
dem-2899	240	65	0.0341	0.0341	NUM
dem-2899	240	66	fi.spread	fi.spread	ADP
dem-2899	240	67	0.4657	0.4657	NUM
dem-2899	240	68	–	–	PUNCT
dem-2899	240	69	0.0503	0.0503	NUM
dem-2899	240	70	0.5114	0.5114	NUM
dem-2899	240	71	–	–	PUNCT
dem-2899	240	72	0.0140	0.0140	NUM
dem-2899	240	73	–	–	PUNCT
dem-2899	240	74	0.6144	0.6144	NUM
dem-2899	240	75	–	–	PUNCT
dem-2899	240	76	0.3759	0.3759	NUM
dem-2899	240	77	standard	standard	ADJ
dem-2899	240	78	deviation	deviation	NOUN
dem-2899	240	79	1.5202	1.5202	NUM
dem-2899	241	1	1.045	1.045	NUM
dem-2899	241	2	0.9043	0.9043	NUM
dem-2899	241	3	0.8842	0.8842	NUM
dem-2899	241	4	0.77257	0.77257	NUM
dem-2899	241	5	0.63295	0.63295	NUM
dem-2899	241	6	proportion	proportion	NOUN
dem-2899	241	7	of	of	ADP
dem-2899	241	8	variance	variance	NOUN
dem-2899	241	9	0.3852	0.3852	NUM
dem-2899	241	10	0.182	0.182	NUM
dem-2899	241	11	0.1363	0.1363	NUM
dem-2899	241	12	0.1303	0.1303	NUM
dem-2899	241	13	0.09948	0.09948	NUM
dem-2899	241	14	0.06677	0.06677	NUM
dem-2899	241	15	cumulative	cumulative	ADJ
dem-2899	241	16	proportion	proportion	NOUN
dem-2899	241	17	0.3852	0.3852	NUM
dem-2899	241	18	0.5672	0.5672	NUM
dem-2899	242	1	0.7035	0.7035	NUM
dem-2899	242	2	0.8337	0.8337	NUM
dem-2899	242	3	0.93323	0.93323	NUM
dem-2899	242	4	1	1	NUM
dem-2899	242	5	note	note	NOUN
dem-2899	242	6	:	:	PUNCT
dem-2899	242	7	first	first	ADJ
dem-2899	242	8	component	component	NOUN
dem-2899	242	9	explained	explain	VERB
dem-2899	242	10	only	only	ADV
dem-2899	242	11	about	about	ADV
dem-2899	242	12	40	40	NUM
dem-2899	242	13	%	%	NOUN
dem-2899	242	14	of	of	ADP
dem-2899	242	15	the	the	DET
dem-2899	242	16	system	system	NOUN
dem-2899	242	17	variance	variance	NOUN
dem-2899	242	18	.	.	PUNCT
dem-2899	243	1	hu.spread	hu.spread	VERB
dem-2899	243	2	denotes	denote	NOUN
dem-2899	243	3	spread	spread	VERB
dem-2899	243	4	of	of	ADP
dem-2899	243	5	hungarian	hungarian	ADJ
dem-2899	243	6	bonds	bond	NOUN
dem-2899	243	7	,	,	PUNCT
dem-2899	243	8	esp	esp	ADV
dem-2899	243	9	–	–	PUNCT
dem-2899	243	10	the	the	DET
dem-2899	243	11	spanish	spanish	ADJ
dem-2899	243	12	ones	one	NOUN
dem-2899	243	13	,	,	PUNCT
dem-2899	243	14	fr	fr	PROPN
dem-2899	243	15	–	–	PUNCT
dem-2899	243	16	the	the	DET
dem-2899	243	17	french	french	ADJ
dem-2899	243	18	ones	one	NOUN
dem-2899	243	19	,	,	PUNCT
dem-2899	243	20	uk	uk	PROPN
dem-2899	243	21	–	–	PUNCT
dem-2899	243	22	the	the	DET
dem-2899	243	23	british	british	ADJ
dem-2899	243	24	ones	one	NOUN
dem-2899	243	25	,	,	PUNCT
dem-2899	243	26	sve	sve	NOUN
dem-2899	243	27	–	–	PUNCT
dem-2899	243	28	the	the	DET
dem-2899	243	29	swedish	swedish	ADJ
dem-2899	243	30	ones	one	NOUN
dem-2899	243	31	,	,	PUNCT
dem-2899	243	32	while	while	SCONJ
dem-2899	243	33	fi	fi	NOUN
dem-2899	243	34	–	–	PUNCT
dem-2899	243	35	the	the	DET
dem-2899	243	36	finnish	finnish	ADJ
dem-2899	243	37	ones	one	NOUN
dem-2899	243	38	.	.	PUNCT
dem-2899	244	1	table	table	NOUN
dem-2899	244	2	4	4	NUM
dem-2899	244	3	.	.	PUNCT
dem-2899	244	4	principal	principal	ADJ
dem-2899	244	5	component	component	NOUN
dem-2899	244	6	analysis	analysis	NOUN
dem-2899	244	7	–	–	PUNCT
dem-2899	244	8	exchange	exchange	NOUN
dem-2899	244	9	rates	rate	NOUN
dem-2899	244	10	.	.	PUNCT
dem-2899	245	1	component	component	NOUN
dem-2899	245	2	loadings	loading	NOUN
dem-2899	245	3	and	and	CCONJ
dem-2899	245	4	explanatory	explanatory	ADJ
dem-2899	245	5	power	power	NOUN
dem-2899	245	6	of	of	ADP
dem-2899	245	7	the	the	DET
dem-2899	245	8	variance	variance	NOUN
dem-2899	245	9	of	of	ADP
dem-2899	245	10	the	the	DET
dem-2899	245	11	system	system	NOUN
dem-2899	245	12	pc1	pc1	PROPN
dem-2899	245	13	pc2	pc2	PROPN
dem-2899	245	14	pc3	pc3	PROPN
dem-2899	245	15	pc4	pc4	PROPN
dem-2899	245	16	pc5	pc5	NOUN
dem-2899	245	17	eurpln	eurpln	VERB
dem-2899	245	18	0.5531	0.5531	NUM
dem-2899	245	19	–	–	PUNCT
dem-2899	245	20	0.0157	0.0157	NUM
dem-2899	245	21	0.1965	0.1965	NUM
dem-2899	245	22	–	–	PUNCT
dem-2899	245	23	0.1719	0.1719	NUM
dem-2899	245	24	–	–	PUNCT
dem-2899	245	25	0.7910	0.7910	NUM
dem-2899	245	26	gbppln	gbppln	NOUN
dem-2899	245	27	0.5140	0.5140	NUM
dem-2899	245	28	–	–	PUNCT
dem-2899	245	29	0.1654	0.1654	NUM
dem-2899	245	30	0.3073	0.3073	NUM
dem-2899	245	31	–	–	PUNCT
dem-2899	245	32	0.5496	0.5496	NUM
dem-2899	245	33	0.5585	0.5585	NUM
dem-2899	245	34	hufpln	hufpln	NOUN
dem-2899	245	35	0.2960	0.2960	NUM
dem-2899	245	36	0.7208	0.7208	NUM
dem-2899	245	37	–	–	PUNCT
dem-2899	245	38	0.5928	0.5928	NUM
dem-2899	245	39	–	–	PUNCT
dem-2899	245	40	0.1847	0.1847	NUM
dem-2899	245	41	0.0856	0.0856	NUM
dem-2899	245	42	sekpln	sekpln	NOUN
dem-2899	245	43	0.4946	0.4946	NUM
dem-2899	245	44	0.1695	0.1695	NUM
dem-2899	245	45	0.2425	0.2425	NUM
dem-2899	245	46	0.7835	0.7835	NUM
dem-2899	245	47	0.2324	0.2324	NUM
dem-2899	245	48	usdpln	usdpln	NUM
dem-2899	245	49	0.3124	0.3124	NUM
dem-2899	245	50	–	–	PUNCT
dem-2899	245	51	0.6512	0.6512	NUM
dem-2899	245	52	–	–	PUNCT
dem-2899	245	53	0.6758	0.6758	NUM
dem-2899	245	54	0.1432	0.1432	NUM
dem-2899	245	55	0.0324	0.0324	NUM
dem-2899	245	56	standard	standard	ADJ
dem-2899	245	57	deviation	deviation	NOUN
dem-2899	245	58	1.6563	1.6563	NUM
dem-2899	245	59	0.985	0.985	NUM
dem-2899	245	60	0.8267	0.8267	NUM
dem-2899	245	61	0.6385	0.6385	NUM
dem-2899	245	62	0.44174	0.44174	NUM
dem-2899	245	63	proportion	proportion	NOUN
dem-2899	245	64	of	of	ADP
dem-2899	245	65	variance	variance	NOUN
dem-2899	245	66	0.5487	0.5487	NUM
dem-2899	245	67	0.1941	0.1941	NUM
dem-2899	245	68	0.1367	0.1367	NUM
dem-2899	245	69	0.08154	0.08154	NUM
dem-2899	245	70	0.03903	0.03903	NUM
dem-2899	245	71	cumulative	cumulative	ADJ
dem-2899	245	72	proportion	proportion	NOUN
dem-2899	245	73	0.5487	0.5487	NUM
dem-2899	245	74	0.7428	0.7428	NUM
dem-2899	245	75	0.8794	0.8794	NUM
dem-2899	245	76	0.96097	0.96097	NUM
dem-2899	245	77	1	1	NUM
dem-2899	245	78	note	note	NOUN
dem-2899	245	79	:	:	PUNCT
dem-2899	245	80	first	first	ADJ
dem-2899	245	81	component	component	NOUN
dem-2899	245	82	explained	explain	VERB
dem-2899	245	83	almost	almost	ADV
dem-2899	245	84	55	55	NUM
dem-2899	245	85	%	%	NOUN
dem-2899	245	86	of	of	ADP
dem-2899	245	87	the	the	DET
dem-2899	245	88	system	system	NOUN
dem-2899	245	89	variance	variance	NOUN
dem-2899	245	90	.	.	PUNCT
dem-2899	246	1	the	the	DET
dem-2899	246	2	eurpln	eurpln	PROPN
dem-2899	246	3	denotes	denote	VERB
dem-2899	246	4	the	the	DET
dem-2899	246	5	exchange	exchange	NOUN
dem-2899	246	6	rate	rate	NOUN
dem-2899	246	7	of	of	ADP
dem-2899	246	8	euro	euro	NOUN
dem-2899	246	9	,	,	PUNCT
dem-2899	246	10	gbppln	gbppln	NOUN
dem-2899	246	11	–	–	PUNCT
dem-2899	246	12	of	of	ADP
dem-2899	246	13	british	british	ADJ
dem-2899	246	14	pound	pound	NOUN
dem-2899	246	15	,	,	PUNCT
dem-2899	246	16	hufpln	hufpln	NOUN
dem-2899	246	17	–	–	PUNCT
dem-2899	246	18	of	of	ADP
dem-2899	246	19	forint	forint	NOUN
dem-2899	246	20	,	,	PUNCT
dem-2899	246	21	sekpln	sekpln	PROPN
dem-2899	246	22	–	–	PUNCT
dem-2899	246	23	of	of	ADP
dem-2899	246	24	sweden	sweden	NOUN
dem-2899	246	25	,	,	PUNCT
dem-2899	246	26	while	while	SCONJ
dem-2899	246	27	usdpln	usdpln	PROPN
dem-2899	246	28	–	–	PUNCT
dem-2899	246	29	the	the	DET
dem-2899	246	30	american	american	ADJ
dem-2899	246	31	one	one	PROPN
dem-2899	246	32	.	.	PUNCT
dem-2899	246	33	table	table	NOUN
dem-2899	246	34	5	5	NUM
dem-2899	246	35	.	.	PUNCT
dem-2899	246	36	principal	principal	ADJ
dem-2899	246	37	component	component	NOUN
dem-2899	246	38	analysis	analysis	NOUN
dem-2899	246	39	–	–	PUNCT
dem-2899	246	40	stock	stock	NOUN
dem-2899	246	41	exchange	exchange	NOUN
dem-2899	246	42	indices	index	NOUN
dem-2899	246	43	.	.	PUNCT
dem-2899	247	1	component	component	NOUN
dem-2899	247	2	loadings	loading	NOUN
dem-2899	247	3	and	and	CCONJ
dem-2899	247	4	explanatory	explanatory	ADJ
dem-2899	247	5	power	power	NOUN
dem-2899	247	6	of	of	ADP
dem-2899	247	7	the	the	DET
dem-2899	247	8	variance	variance	NOUN
dem-2899	247	9	of	of	ADP
dem-2899	247	10	the	the	DET
dem-2899	247	11	system	system	NOUN
dem-2899	247	12	pc1	pc1	PROPN
dem-2899	247	13	pc2	pc2	PROPN
dem-2899	247	14	pc3	pc3	PROPN
dem-2899	247	15	pc4	pc4	PROPN
dem-2899	247	16	bux	bux	PROPN
dem-2899	247	17	–	–	PUNCT
dem-2899	247	18	0.4351	0.4351	NUM
dem-2899	247	19	0.8218	0.8218	NUM
dem-2899	247	20	–	–	PUNCT
dem-2899	247	21	0.3677	0.3677	NUM
dem-2899	247	22	0.0113	0.0113	NUM
dem-2899	247	23	cac	cac	PROPN
dem-2899	247	24	–	–	PUNCT
dem-2899	247	25	0.5448	0.5448	NUM
dem-2899	247	26	–	–	PUNCT
dem-2899	247	27	0.0776	0.0776	NUM
dem-2899	247	28	0.4497	0.4497	NUM
dem-2899	247	29	–	–	PUNCT
dem-2899	247	30	0.7035	0.7035	NUM
dem-2899	247	31	dax	dax	NOUN
dem-2899	247	32	–	–	PUNCT
dem-2899	247	33	0.5455	0.5455	NUM
dem-2899	247	34	–	–	SYM
dem-2899	247	35	0.1052	0.1052	NUM
dem-2899	247	36	0.4323	0.4323	NUM
dem-2899	247	37	0.7103	0.7103	NUM
dem-2899	247	38	s&p	s&p	PROPN
dem-2899	247	39	–	–	PUNCT
dem-2899	247	40	0.4651	0.4651	NUM
dem-2899	247	41	–	–	PUNCT
dem-2899	247	42	0.5546	0.5546	NUM
dem-2899	247	43	–	–	PUNCT
dem-2899	247	44	0.6897	0.6897	NUM
dem-2899	247	45	–	–	PUNCT
dem-2899	247	46	0.0196	0.0196	NUM
dem-2899	247	47	standard	standard	ADJ
dem-2899	247	48	deviation	deviation	NOUN
dem-2899	247	49	1.737	1.737	NUM
dem-2899	247	50	0.7495	0.7495	NUM
dem-2899	247	51	0.6061	0.6061	NUM
dem-2899	247	52	0.2347	0.2347	NUM
dem-2899	247	53	proportion	proportion	NOUN
dem-2899	247	54	of	of	ADP
dem-2899	247	55	variance	variance	NOUN
dem-2899	247	56	0.754	0.754	NUM
dem-2899	247	57	0.1404	0.1404	NUM
dem-2899	247	58	0.0918	0.0918	NUM
dem-2899	247	59	0.0138	0.0138	NUM
dem-2899	247	60	cumulative	cumulative	ADJ
dem-2899	247	61	proportion	proportion	NOUN
dem-2899	247	62	0.754	0.754	NUM
dem-2899	247	63	0.8944	0.8944	NUM
dem-2899	247	64	0.9862	0.9862	NUM
dem-2899	247	65	1	1	NUM
dem-2899	247	66	note	note	NOUN
dem-2899	247	67	:	:	PUNCT
dem-2899	247	68	first	first	ADJ
dem-2899	247	69	component	component	NOUN
dem-2899	247	70	explained	explain	VERB
dem-2899	247	71	over	over	ADP
dem-2899	247	72	than	than	ADP
dem-2899	247	73	75	75	NUM
dem-2899	247	74	%	%	NOUN
dem-2899	247	75	of	of	ADP
dem-2899	247	76	the	the	DET
dem-2899	247	77	system	system	NOUN
dem-2899	247	78	variance	variance	NOUN
dem-2899	247	79	.	.	PUNCT
dem-2899	248	1	bux	bux	NOUN
dem-2899	248	2	denotes	denote	VERB
dem-2899	248	3	the	the	DET
dem-2899	248	4	hungarian	hungarian	ADJ
dem-2899	248	5	stock	stock	PROPN
dem-2899	248	6	exchange	exchange	PROPN
dem-2899	248	7	index	index	PROPN
dem-2899	248	8	,	,	PUNCT
dem-2899	248	9	cac	cac	PROPN
dem-2899	248	10	–	–	PUNCT
dem-2899	248	11	the	the	DET
dem-2899	248	12	french	french	ADJ
dem-2899	248	13	one	one	NOUN
dem-2899	248	14	,	,	PUNCT
dem-2899	248	15	dax	dax	PROPN
dem-2899	248	16	–	–	PUNCT
dem-2899	248	17	the	the	DET
dem-2899	248	18	german	german	ADJ
dem-2899	248	19	one	one	NOUN
dem-2899	248	20	,	,	PUNCT
dem-2899	248	21	while	while	SCONJ
dem-2899	248	22	s&p	s&p	PROPN
dem-2899	248	23	–	–	PUNCT
dem-2899	248	24	the	the	DET
dem-2899	248	25	american	american	ADJ
dem-2899	248	26	standard	standard	PROPN
dem-2899	248	27	and	and	CCONJ
dem-2899	248	28	poor	poor	ADJ
dem-2899	248	29	’s	’s	NOUN
dem-2899	248	30	.	.	PUNCT
dem-2899	249	1	agata	agata	PROPN
dem-2899	249	2	kliber	kliber	PROPN
dem-2899	249	3	,	,	PUNCT
dem-2899	249	4	barbara	barbara	PROPN
dem-2899	249	5	będowska	będowska	PROPN
dem-2899	249	6	-	-	PUNCT
dem-2899	249	7	sójka	sójka	ADV
dem-2899	249	8	dynamic	dynamic	ADJ
dem-2899	249	9	econometric	econometric	ADJ
dem-2899	249	10	models	model	NOUN
dem-2899	249	11	13	13	NUM
dem-2899	249	12	(	(	PUNCT
dem-2899	249	13	2013	2013	NUM
dem-2899	249	14	)	)	PUNCT
dem-2899	249	15	87–106	87–106	NUM
dem-2899	249	16	104	104	NUM
dem-2899	249	17	table	table	NOUN
dem-2899	249	18	6	6	NUM
dem-2899	249	19	.	.	PUNCT
dem-2899	249	20	estimates	estimate	NOUN
dem-2899	249	21	of	of	ADP
dem-2899	249	22	arma	arma	PROPN
dem-2899	249	23	–	–	PUNCT
dem-2899	249	24	garch	garch	NOUN
dem-2899	249	25	models	model	NOUN
dem-2899	249	26	of	of	ADP
dem-2899	249	27	the	the	DET
dem-2899	249	28	dynamics	dynamic	NOUN
dem-2899	249	29	of	of	ADP
dem-2899	249	30	polish	polish	ADJ
dem-2899	249	31	scds	scds	NOUN
dem-2899	249	32	spread	spread	NOUN
dem-2899	249	33	(	(	PUNCT
dem-2899	249	34	model	model	NOUN
dem-2899	249	35	0–4	0–4	PROPN
dem-2899	249	36	)	)	PUNCT
dem-2899	249	37	.	.	PUNCT
dem-2899	250	1	model	model	NOUN
dem-2899	250	2	0	0	NUM
dem-2899	250	3	model	model	NOUN
dem-2899	250	4	1	1	NUM
dem-2899	250	5	model	model	NOUN
dem-2899	250	6	2	2	NUM
dem-2899	250	7	model	model	NOUN
dem-2899	250	8	3	3	NUM
dem-2899	250	9	variable	variable	PROPN
dem-2899	250	10	coeff	coeff	PROPN
dem-2899	250	11	.	.	PUNCT
dem-2899	251	1	std.error	std.error	PROPN
dem-2899	251	2	coeff	coeff	PROPN
dem-2899	251	3	.	.	PUNCT
dem-2899	252	1	std.error	std.error	PROPN
dem-2899	252	2	coeff	coeff	PROPN
dem-2899	252	3	.	.	PUNCT
dem-2899	253	1	std.error	std.error	PROPN
dem-2899	253	2	coeff	coeff	PROPN
dem-2899	253	3	.	.	PUNCT
dem-2899	254	1	std.error	std.error	NOUN
dem-2899	254	2	condme	condme	NOUN
dem-2899	254	3	pcbond	pcbond	NOUN
dem-2899	254	4	,	,	PUNCT
dem-2899	254	5	t	t	VERB
dem-2899	254	6	0.116	0.116	NUM
dem-2899	254	7	0.009	0.009	NUM
dem-2899	254	8	0.095	0.095	NUM
dem-2899	254	9	0.010	0.010	NUM
dem-2899	254	10	pcex	pcex	ADJ
dem-2899	254	11	,	,	PUNCT
dem-2899	254	12	t–1	t–1	ADP
dem-2899	254	13	0.177	0.177	NUM
dem-2899	254	14	0.069	0.069	NUM
dem-2899	254	15	0.253	0.253	NUM
dem-2899	254	16	0.080	0.080	NUM
dem-2899	254	17	pcin	pcin	PROPN
dem-2899	254	18	,	,	PUNCT
dem-2899	254	19	t–1	t–1	ADP
dem-2899	254	20	0.148	0.148	NUM
dem-2899	254	21	0.037	0.037	NUM
dem-2899	254	22	0.159	0.159	NUM
dem-2899	254	23	0.036	0.036	NUM
dem-2899	254	24	bondt	bondt	NOUN
dem-2899	254	25	0.503	0.503	NUM
dem-2899	254	26	0.056	0.056	NUM
dem-2899	254	27	0.198	0.198	NUM
dem-2899	254	28	0.045	0.045	NUM
dem-2899	254	29	wigt–1	wigt–1	NUM
dem-2899	254	30	–	–	PUNCT
dem-2899	254	31	0.387	0.387	NUM
dem-2899	254	32	0.072	0.072	NUM
dem-2899	254	33	ert–1	ert–1	NOUN
dem-2899	254	34	0.176	0.176	NUM
dem-2899	254	35	0.083	0.083	NUM
dem-2899	254	36	cvareq	cvareq	PROPN
dem-2899	254	37	(	(	PUNCT
dem-2899	254	38	pcex	pcex	PROPN
dem-2899	254	39	,	,	PUNCT
dem-2899	254	40	t–1)2	t–1)2	PROPN
dem-2899	254	41	0.367	0.367	NUM
dem-2899	254	42	0.097	0.097	NUM
dem-2899	254	43	vol	vol	NOUN
dem-2899	254	44	t–1	t–1	ADP
dem-2899	254	45	0.000	0.000	NUM
dem-2899	254	46	0.001	0.001	NUM
dem-2899	254	47	(	(	PUNCT
dem-2899	254	48	wigt–1)2	wigt–1)2	NOUN
dem-2899	254	49	0.390	0.390	NUM
dem-2899	254	50	0.133	0.133	NUM
dem-2899	254	51	0.486	0.486	NUM
dem-2899	254	52	0.123	0.123	NUM
dem-2899	254	53	(	(	PUNCT
dem-2899	254	54	bondt–1)2	bondt–1)2	NUM
dem-2899	254	55	–	–	PUNCT
dem-2899	254	56	0.001	0.001	NUM
dem-2899	254	57	0.022	0.022	NUM
dem-2899	254	58	α	α	PROPN
dem-2899	254	59	0.110	0.110	NUM
dem-2899	254	60	0.002	0.002	NUM
dem-2899	254	61	0.100	0.100	NUM
dem-2899	254	62	0.022	0.022	NUM
dem-2899	254	63	0.090	0.090	NUM
dem-2899	254	64	0.022	0.022	NUM
dem-2899	254	65	0.088	0.088	NUM
dem-2899	254	66	0.020	0.020	NUM
dem-2899	254	67	β	β	NOUN
dem-2899	254	68	0.842	0.842	NUM
dem-2899	254	69	0.030	0.030	NUM
dem-2899	254	70	0.841	0.841	NUM
dem-2899	254	71	0.030	0.030	NUM
dem-2899	254	72	0.836	0.836	NUM
dem-2899	254	73	0.033	0.033	NUM
dem-2899	254	74	0.828	0.828	NUM
dem-2899	254	75	0.029	0.029	NUM
dem-2899	254	76	df	df	PROPN
dem-2899	254	77	4.230	4.230	NUM
dem-2899	254	78	0.388	0.388	NUM
dem-2899	254	79	4.218	4.218	NUM
dem-2899	254	80	0.366	0.366	NUM
dem-2899	254	81	4.258	4.258	NUM
dem-2899	254	82	0.418	0.418	NUM
dem-2899	254	83	4.332	4.332	NUM
dem-2899	254	84	0.402	0.402	NUM
dem-2899	254	85	ω	ω	NUM
dem-2899	254	86	0.001	0.001	NUM
dem-2899	254	87	0.002	0.002	NUM
dem-2899	254	88	0.002	0.002	NUM
dem-2899	254	89	0.002	0.002	NUM
dem-2899	254	90	ll	ll	NOUN
dem-2899	254	91	2301	2301	NUM
dem-2899	254	92	2460	2460	NUM
dem-2899	254	93	2403	2403	NUM
dem-2899	254	94	2481	2481	NUM
dem-2899	254	95	ll	ll	NOUN
dem-2899	254	96	ratio	ratio	NOUN
dem-2899	254	97	(	(	PUNCT
dem-2899	254	98	mod	mod	PROPN
dem-2899	254	99	.	.	PROPN
dem-2899	254	100	0	0	NUM
dem-2899	254	101	)	)	PUNCT
dem-2899	255	1	0.000	0.000	NUM
dem-2899	256	1	0.000	0.000	NUM
dem-2899	257	1	0.000	0.000	NUM
dem-2899	258	1	ll	ll	NOUN
dem-2899	258	2	ratio	ratio	NOUN
dem-2899	258	3	(	(	PUNCT
dem-2899	258	4	mod	mod	PROPN
dem-2899	258	5	.	.	PROPN
dem-2899	258	6	3	3	NUM
dem-2899	258	7	)	)	PUNCT
dem-2899	258	8	0.000	0.000	NUM
dem-2899	258	9	0.000	0.000	NUM
dem-2899	258	10	0.000	0.000	NUM
dem-2899	258	11	note	note	NOUN
dem-2899	258	12	:	:	PUNCT
dem-2899	258	13	pcbond	pcbond	NOUN
dem-2899	258	14	,	,	PUNCT
dem-2899	258	15	t	t	PROPN
dem-2899	258	16	stands	stand	VERB
dem-2899	258	17	for	for	ADP
dem-2899	258	18	first	first	ADJ
dem-2899	258	19	principal	principal	ADJ
dem-2899	258	20	component	component	NOUN
dem-2899	258	21	in	in	ADP
dem-2899	258	22	pca	pca	PROPN
dem-2899	258	23	for	for	ADP
dem-2899	258	24	bond	bond	NOUN
dem-2899	258	25	spreads	spread	NOUN
dem-2899	258	26	.	.	PUNCT
dem-2899	259	1	pcex	pcex	ADJ
dem-2899	259	2	,	,	PUNCT
dem-2899	259	3	t–1	t–1	X
dem-2899	259	4	for	for	ADP
dem-2899	259	5	exchange	exchange	NOUN
dem-2899	259	6	rates	rate	NOUN
dem-2899	259	7	with	with	ADP
dem-2899	259	8	lagged	lag	VERB
dem-2899	259	9	values	value	NOUN
dem-2899	259	10	,	,	PUNCT
dem-2899	259	11	and	and	CCONJ
dem-2899	259	12	pcin	pcin	PROPN
dem-2899	259	13	,	,	PUNCT
dem-2899	259	14	t–1	t–1	X
dem-2899	259	15	for	for	ADP
dem-2899	259	16	stock	stock	NOUN
dem-2899	259	17	indices	index	NOUN
dem-2899	259	18	with	with	ADP
dem-2899	259	19	lagged	lag	VERB
dem-2899	259	20	values	value	NOUN
dem-2899	259	21	.	.	PUNCT
dem-2899	260	1	bondt	bondt	NOUN
dem-2899	260	2	stands	stand	VERB
dem-2899	260	3	for	for	ADP
dem-2899	260	4	domestic	domestic	ADJ
dem-2899	260	5	bond	bond	NOUN
dem-2899	260	6	spread	spread	VERB
dem-2899	260	7	changes	change	NOUN
dem-2899	260	8	,	,	PUNCT
dem-2899	260	9	wigt–1	wigt–1	X
dem-2899	260	10	is	be	AUX
dem-2899	260	11	lagged	lag	VERB
dem-2899	260	12	value	value	NOUN
dem-2899	260	13	of	of	ADP
dem-2899	260	14	wig	wig	NOUN
dem-2899	260	15	returns	return	NOUN
dem-2899	260	16	,	,	PUNCT
dem-2899	260	17	ert–1	ert–1	PROPN
dem-2899	260	18	describes	describe	VERB
dem-2899	260	19	lagged	lag	VERB
dem-2899	260	20	returns	return	NOUN
dem-2899	260	21	of	of	ADP
dem-2899	260	22	usd	usd	PROPN
dem-2899	260	23	/	/	SYM
dem-2899	260	24	pln	pln	PROPN
dem-2899	260	25	exchange	exchange	NOUN
dem-2899	260	26	rate	rate	NOUN
dem-2899	260	27	,	,	PUNCT
dem-2899	260	28	and	and	CCONJ
dem-2899	260	29	volt–1	volt–1	X
dem-2899	260	30	is	be	AUX
dem-2899	260	31	lagged	lag	VERB
dem-2899	260	32	value	value	NOUN
dem-2899	260	33	of	of	ADP
dem-2899	260	34	trading	trading	NOUN
dem-2899	260	35	volume	volume	NOUN
dem-2899	260	36	of	of	ADP
dem-2899	260	37	wig	wig	NOUN
dem-2899	260	38	index	index	NOUN
dem-2899	260	39	.	.	PUNCT
dem-2899	261	1	based	base	VERB
dem-2899	261	2	upon	upon	SCONJ
dem-2899	261	3	the	the	DET
dem-2899	261	4	ll	ll	NOUN
dem-2899	261	5	–	–	PUNCT
dem-2899	261	6	ratio	ratio	NOUN
dem-2899	261	7	test	test	NOUN
dem-2899	261	8	we	we	PRON
dem-2899	261	9	conclude	conclude	VERB
dem-2899	261	10	that	that	SCONJ
dem-2899	261	11	each	each	PRON
dem-2899	261	12	of	of	ADP
dem-2899	261	13	the	the	DET
dem-2899	261	14	models	model	NOUN
dem-2899	261	15	:	:	PUNCT
dem-2899	261	16	1	1	NUM
dem-2899	261	17	,	,	PUNCT
dem-2899	261	18	2	2	NUM
dem-2899	261	19	,	,	PUNCT
dem-2899	261	20	3	3	NUM
dem-2899	261	21	outperform	outperform	VERB
dem-2899	261	22	the	the	DET
dem-2899	261	23	model	model	NOUN
dem-2899	261	24	0	0	NUM
dem-2899	261	25	,	,	PUNCT
dem-2899	261	26	while	while	SCONJ
dem-2899	261	27	model	model	NOUN
dem-2899	261	28	3	3	NUM
dem-2899	261	29	outperforms	outperform	NOUN
dem-2899	261	30	all	all	PRON
dem-2899	261	31	of	of	ADP
dem-2899	261	32	the	the	DET
dem-2899	261	33	models	model	NOUN
dem-2899	261	34	:	:	PUNCT
dem-2899	261	35	0	0	NUM
dem-2899	261	36	,	,	PUNCT
dem-2899	261	37	1	1	NUM
dem-2899	261	38	and	and	CCONJ
dem-2899	261	39	2	2	NUM
dem-2899	261	40	.	.	X
dem-2899	262	1	the	the	DET
dem-2899	262	2	bolded	bolde	VERB
dem-2899	262	3	parameters	parameter	NOUN
dem-2899	262	4	are	be	AUX
dem-2899	262	5	statistically	statistically	ADV
dem-2899	262	6	significant	significant	ADJ
dem-2899	262	7	at	at	ADP
dem-2899	262	8	α=0.05	α=0.05	NOUN
dem-2899	262	9	.	.	PUNCT
dem-2899	263	1	table	table	NOUN
dem-2899	263	2	7	7	NUM
dem-2899	263	3	.	.	PUNCT
dem-2899	263	4	estimates	estimate	NOUN
dem-2899	263	5	of	of	ADP
dem-2899	263	6	model	model	NOUN
dem-2899	263	7	4	4	NUM
dem-2899	263	8	:	:	PUNCT
dem-2899	263	9	ar(1)–figarch(1,d,1	ar(1)–figarch(1,d,1	NOUN
dem-2899	263	10	)	)	PUNCT
dem-2899	263	11	model	model	NOUN
dem-2899	263	12	of	of	ADP
dem-2899	263	13	the	the	DET
dem-2899	263	14	dynamics	dynamic	NOUN
dem-2899	263	15	of	of	ADP
dem-2899	263	16	polish	polish	ADJ
dem-2899	263	17	scds	scd	NOUN
dem-2899	263	18	spread	spread	VERB
dem-2899	263	19	with	with	ADP
dem-2899	263	20	macro	macro	ADJ
dem-2899	263	21	news	news	NOUN
dem-2899	263	22	and	and	CCONJ
dem-2899	263	23	trading	trading	NOUN
dem-2899	263	24	volume	volume	NOUN
dem-2899	263	25	variables	variables	PROPN
dem-2899	263	26	coeff	coeff	PROPN
dem-2899	263	27	.	.	PUNCT
dem-2899	264	1	std.err	std.err	PROPN
dem-2899	264	2	.	.	PUNCT
dem-2899	265	1	coeff	coeff	PROPN
dem-2899	265	2	.	.	PUNCT
dem-2899	266	1	std.err	std.err	PROPN
dem-2899	266	2	.	.	PUNCT
dem-2899	267	1	coeff	coeff	PROPN
dem-2899	267	2	.	.	PUNCT
dem-2899	268	1	std.err	std.err	PROPN
dem-2899	268	2	.	.	PUNCT
dem-2899	269	1	ar(1	ar(1	NOUN
dem-2899	269	2	)	)	PUNCT
dem-2899	270	1	0.1017	0.1017	NUM
dem-2899	271	1	0.0315	0.0315	NUM
dem-2899	271	2	0.1000	0.1000	NUM
dem-2899	271	3	0.0315	0.0315	NUM
dem-2899	271	4	0.0979	0.0979	NUM
dem-2899	271	5	0.0333	0.0333	NUM
dem-2899	271	6	ω*104	ω*104	NOUN
dem-2899	271	7	306.8671	306.8671	NUM
dem-2899	271	8	51.9121	51.9121	NUM
dem-2899	271	9	289.8801	289.8801	NUM
dem-2899	271	10	36.5562	36.5562	NUM
dem-2899	271	11	262.7081	262.7081	NUM
dem-2899	271	12	22.7071	22.7071	NUM
dem-2899	271	13	dvt	dvt	PROPN
dem-2899	271	14	–	–	PUNCT
dem-2899	271	15	0.0001	0.0001	NUM
dem-2899	271	16	0.0001	0.0001	NUM
dem-2899	271	17	volt–1	volt–1	X
dem-2899	271	18	*	*	SYM
dem-2899	271	19	104	104	NUM
dem-2899	271	20	2.4900	2.4900	NUM
dem-2899	271	21	0.0359	0.0359	NUM
dem-2899	271	22	d	d	NOUN
dem-2899	271	23	0.7570	0.7570	NUM
dem-2899	271	24	0.0452	0.0452	NUM
dem-2899	271	25	0.7510	0.7510	NUM
dem-2899	271	26	0.0461	0.0461	NUM
dem-2899	271	27	0.7584	0.7584	NUM
dem-2899	271	28	0.0444	0.0444	NUM
dem-2899	271	29	α	α	NOUN
dem-2899	271	30	0.0656	0.0656	NUM
dem-2899	271	31	0.1051	0.1051	NUM
dem-2899	271	32	0.0629	0.0629	NUM
dem-2899	271	33	0.1020	0.1020	NUM
dem-2899	271	34	0.0589	0.0589	NUM
dem-2899	271	35	0.1104	0.1104	NUM
dem-2899	271	36	β	β	NUM
dem-2899	271	37	0.7144	0.7144	NUM
dem-2899	271	38	0.0587	0.0587	NUM
dem-2899	271	39	0.7100	0.7100	NUM
dem-2899	271	40	0.0599	0.0599	NUM
dem-2899	271	41	0.7349	0.7349	NUM
dem-2899	271	42	0.0548	0.0548	NUM
dem-2899	271	43	df	df	NOUN
dem-2899	271	44	3.2024	3.2024	NUM
dem-2899	271	45	0.2381	0.2381	NUM
dem-2899	271	46	3.2201	3.2201	NUM
dem-2899	271	47	0.2436	0.2436	NUM
dem-2899	271	48	3.1553	3.1553	NUM
dem-2899	271	49	0.2245	0.2245	NUM
dem-2899	271	50	ll	ll	NOUN
dem-2899	271	51	2311.7111	2311.7111	NUM
dem-2899	271	52	2312.3212	2312.3212	NUM
dem-2899	271	53	2313.1121	2313.1121	NUM
dem-2899	271	54	ll	ll	NOUN
dem-2899	271	55	ratio	ratio	NOUN
dem-2899	271	56	test	test	NOUN
dem-2899	271	57	0.27	0.27	NUM
dem-2899	271	58	0.09	0.09	NUM
dem-2899	271	59	note	note	NOUN
dem-2899	271	60	:	:	PUNCT
dem-2899	271	61	volt–1	volt–1	X
dem-2899	271	62	is	be	AUX
dem-2899	271	63	lagged	lag	VERB
dem-2899	271	64	value	value	NOUN
dem-2899	271	65	of	of	ADP
dem-2899	271	66	trading	trading	NOUN
dem-2899	271	67	volume	volume	NOUN
dem-2899	271	68	of	of	ADP
dem-2899	271	69	wig	wig	NOUN
dem-2899	271	70	index	index	NOUN
dem-2899	271	71	.	.	PUNCT
dem-2899	272	1	dvt	dvt	PROPN
dem-2899	272	2	is	be	AUX
dem-2899	272	3	an	an	DET
dem-2899	272	4	indicator	indicator	NOUN
dem-2899	272	5	variable	variable	NOUN
dem-2899	272	6	standing	stand	VERB
dem-2899	272	7	for	for	ADP
dem-2899	272	8	aggregated	aggregate	VERB
dem-2899	272	9	macro	macro	ADJ
dem-2899	272	10	announcements	announcement	NOUN
dem-2899	272	11	the	the	DET
dem-2899	272	12	bolded	bolde	VERB
dem-2899	272	13	parameters	parameter	NOUN
dem-2899	272	14	are	be	AUX
dem-2899	272	15	statistically	statistically	ADV
dem-2899	272	16	significant	significant	ADJ
dem-2899	272	17	at	at	ADP
dem-2899	272	18	α=0.05	α=0.05	NOUN
dem-2899	272	19	.	.	PUNCT
dem-2899	273	1	economic	economic	ADJ
dem-2899	273	2	situation	situation	NOUN
dem-2899	273	3	of	of	ADP
dem-2899	273	4	the	the	DET
dem-2899	273	5	country	country	NOUN
dem-2899	273	6	or	or	CCONJ
dem-2899	273	7	risk	risk	NOUN
dem-2899	273	8	in	in	ADP
dem-2899	273	9	the	the	DET
dem-2899	273	10	world	world	NOUN
dem-2899	273	11	financial	financial	ADJ
dem-2899	273	12	market	market	NOUN
dem-2899	273	13	?	?	PUNCT
dem-2899	273	14	...	...	PUNCT
dem-2899	274	1	dynamic	dynamic	ADJ
dem-2899	274	2	econometric	econometric	ADJ
dem-2899	274	3	models	model	NOUN
dem-2899	274	4	13	13	NUM
dem-2899	274	5	(	(	PUNCT
dem-2899	274	6	2013	2013	NUM
dem-2899	274	7	)	)	PUNCT
dem-2899	274	8	87–106	87–106	NUM
dem-2899	274	9	105	105	NUM
dem-2899	274	10	appendix	appendix	NOUN
dem-2899	274	11	2	2	NUM
dem-2899	274	12	–	–	PUNCT
dem-2899	274	13	the	the	DET
dem-2899	274	14	models	model	NOUN
dem-2899	274	15	arma	arma	ADJ
dem-2899	274	16	–	–	PUNCT
dem-2899	274	17	garch	garch	NOUN
dem-2899	274	18	model	model	NOUN
dem-2899	274	19	(	(	PUNCT
dem-2899	274	20	bollerslev	bollerslev	ADJ
dem-2899	274	21	,	,	PUNCT
dem-2899	274	22	1986	1986	NUM
dem-2899	274	23	)	)	PUNCT
dem-2899	274	24	with	with	ADP
dem-2899	274	25	explanatory	explanatory	ADJ
dem-2899	274	26	variables	variable	NOUN
dem-2899	274	27	.	.	PUNCT
dem-2899	275	1	let	let	VERB
dem-2899	275	2	us	we	PRON
dem-2899	275	3	denote	denote	VERB
dem-2899	275	4	by	by	ADP
dem-2899	275	5	ty	ty	PRON
dem-2899	275	6	the	the	DET
dem-2899	275	7	value	value	NOUN
dem-2899	275	8	of	of	ADP
dem-2899	275	9	the	the	DET
dem-2899	275	10	process	process	NOUN
dem-2899	275	11	at	at	ADP
dem-2899	275	12	time	time	NOUN
dem-2899	275	13	t.	t.	PROPN
dem-2899	275	14	the	the	DET
dem-2899	275	15	following	following	ADJ
dem-2899	275	16	model	model	NOUN
dem-2899	275	17	:	:	PUNCT
dem-2899	275	18	1	1	NUM
dem-2899	275	19	1	1	NUM
dem-2899	275	20	1	1	NUM
dem-2899	275	21	2	2	NUM
dem-2899	275	22	2	2	NUM
dem-2899	275	23	2	2	NUM
dem-2899	275	24	1	1	NUM
dem-2899	275	25	1	1	NUM
dem-2899	275	26	1	1	NUM
dem-2899	275	27	,	,	PUNCT
dem-2899	275	28	,	,	PUNCT
dem-2899	275	29	,	,	PUNCT
dem-2899	275	30	m	m	VERB
dem-2899	275	31	n	n	VERB
dem-2899	275	32	t	t	X
dem-2899	275	33	t	t	NOUN
dem-2899	276	1	i	i	PRON
dem-2899	276	2	t	t	VERB
dem-2899	277	1	i	i	PRON
dem-2899	278	1	j	j	PROPN
dem-2899	279	1	t	t	PROPN
dem-2899	279	2	j	j	PROPN
dem-2899	280	1	t	t	PROPN
dem-2899	280	2	k	k	PROPN
dem-2899	281	1	i	i	PRON
dem-2899	281	2	j	j	PROPN
dem-2899	282	1	k	k	PROPN
dem-2899	282	2	t	t	PROPN
dem-2899	282	3	t	t	PROPN
dem-2899	282	4	t	t	PROPN
dem-2899	282	5	p	p	X
dem-2899	282	6	q	q	NOUN
dem-2899	282	7	r	r	NOUN
dem-2899	282	8	t	t	NOUN
dem-2899	283	1	i	i	PRON
dem-2899	283	2	t	t	VERB
dem-2899	284	1	i	i	PRON
dem-2899	285	1	j	j	PROPN
dem-2899	286	1	t	t	PROPN
dem-2899	286	2	j	j	PROPN
dem-2899	287	1	k	k	PROPN
dem-2899	287	2	i	i	PRON
dem-2899	287	3	j	j	PROPN
dem-2899	288	1	k	k	NOUN
dem-2899	288	2	r	r	NOUN
dem-2899	288	3	a	a	PRON
dem-2899	288	4	r	r	NOUN
dem-2899	288	5	b	b	PROPN
dem-2899	288	6	y	y	PROPN
dem-2899	288	7	y	y	PROPN
dem-2899	288	8	z	z	PROPN
dem-2899	288	9	y	y	PROPN
dem-2899	288	10	y	y	PROPN
dem-2899	288	11	w	w	PROPN
dem-2899	288	12	σ	σ	PROPN
dem-2899	288	13	ε	ε	PROPN
dem-2899	288	14	σ	σ	PROPN
dem-2899	288	15	ω	ω	PROPN
dem-2899	288	16	α	α	PROPN
dem-2899	288	17	β	β	PROPN
dem-2899	288	18	σ	σ	NOUN
dem-2899	289	1	−	−	NOUN
dem-2899	289	2	−	−	PROPN
dem-2899	290	1	=	=	SYM
dem-2899	290	2	=	=	PUNCT
dem-2899	290	3	=	=	PUNCT
dem-2899	290	4	−	−	NOUN
dem-2899	290	5	−	−	NOUN
dem-2899	291	1	=	=	SYM
dem-2899	291	2	=	=	PUNCT
dem-2899	291	3	=	=	PUNCT
dem-2899	291	4	=	=	PUNCT
dem-2899	292	1	+	+	PUNCT
dem-2899	292	2	+	+	PUNCT
dem-2899	292	3	+	+	X
dem-2899	292	4	=	=	SYM
dem-2899	292	5	=	=	X
dem-2899	293	1	+	+	PUNCT
dem-2899	293	2	+	+	CCONJ
dem-2899	293	3	+	+	CCONJ
dem-2899	293	4	∑	∑	PROPN
dem-2899	293	5	∑	∑	PROPN
dem-2899	293	6	∑	∑	PROPN
dem-2899	293	7	∑	∑	PROPN
dem-2899	293	8	∑	∑	PROPN
dem-2899	293	9	∑	∑	PROPN
dem-2899	293	10	(	(	PUNCT
dem-2899	293	11	1	1	X
dem-2899	293	12	)	)	PUNCT
dem-2899	293	13	is	be	AUX
dem-2899	293	14	called	call	VERB
dem-2899	293	15	an	an	DET
dem-2899	293	16	arma	arma	ADJ
dem-2899	293	17	–	–	PUNCT
dem-2899	293	18	garch	garch	NOUN
dem-2899	293	19	model	model	NOUN
dem-2899	293	20	with	with	ADP
dem-2899	293	21	explanatory	explanatory	ADJ
dem-2899	293	22	variables	variable	NOUN
dem-2899	293	23	iz	iz	X
dem-2899	293	24	and	and	CCONJ
dem-2899	293	25	jw	jw	PROPN
dem-2899	293	26	.	.	PUNCT
dem-2899	294	1	we	we	PRON
dem-2899	294	2	assume	assume	VERB
dem-2899	294	3	that	that	SCONJ
dem-2899	294	4	tε	tε	PROPN
dem-2899	294	5	is	be	AUX
dem-2899	294	6	an	an	DET
dem-2899	294	7	iid	iid	NOUN
dem-2899	294	8	process	process	NOUN
dem-2899	294	9	of	of	ADP
dem-2899	294	10	mean	mean	NOUN
dem-2899	294	11	0	0	NUM
dem-2899	294	12	and	and	CCONJ
dem-2899	294	13	unit	unit	NOUN
dem-2899	294	14	variance	variance	NOUN
dem-2899	294	15	.	.	PUNCT
dem-2899	295	1	moreover	moreover	ADV
dem-2899	295	2	,	,	PUNCT
dem-2899	295	3	0	0	NUM
dem-2899	295	4	,	,	PUNCT
dem-2899	295	5	0	0	NUM
dem-2899	295	6	,	,	PUNCT
dem-2899	295	7	0.i	0.i	PROPN
dem-2899	295	8	iω	iω	X
dem-2899	295	9	α	α	X
dem-2899	295	10	β	β	PROPN
dem-2899	295	11	>	>	X
dem-2899	295	12	≥	≥	NUM
dem-2899	295	13	≥	≥	NUM
dem-2899	295	14	in	in	ADP
dem-2899	295	15	section	section	NOUN
dem-2899	295	16	3	3	NUM
dem-2899	295	17	we	we	PRON
dem-2899	295	18	use	use	VERB
dem-2899	295	19	ar(1)–figarch(1,d,1	ar(1)–figarch(1,d,1	NOUN
dem-2899	295	20	)	)	PUNCT
dem-2899	295	21	model	model	NOUN
dem-2899	295	22	with	with	ADP
dem-2899	295	23	specification	specification	NOUN
dem-2899	295	24	given	give	VERB
dem-2899	295	25	by	by	ADP
dem-2899	295	26	chung	chung	PROPN
dem-2899	295	27	(	(	PUNCT
dem-2899	295	28	1999	1999	NUM
dem-2899	295	29	):	):	PUNCT
dem-2899	295	30	1	1	NUM
dem-2899	295	31	1	1	NUM
dem-2899	295	32	,	,	PUNCT
dem-2899	295	33	,	,	PUNCT
dem-2899	295	34	t	t	PROPN
dem-2899	295	35	t	t	PROPN
dem-2899	295	36	t	t	PROPN
dem-2899	295	37	t	t	PROPN
dem-2899	295	38	t	t	PROPN
dem-2899	296	1	tr	tr	NOUN
dem-2899	296	2	r	r	NOUN
dem-2899	296	3	y	y	NOUN
dem-2899	297	1	yϕ	yϕ	NOUN
dem-2899	297	2	σ	σ	NOUN
dem-2899	297	3	ε−=	ε−=	PROPN
dem-2899	298	1	+	+	CCONJ
dem-2899	298	2	=	=	SYM
dem-2899	298	3	2	2	NUM
dem-2899	298	4	2	2	NUM
dem-2899	298	5	2	2	NUM
dem-2899	298	6	2	2	NUM
dem-2899	298	7	,	,	PUNCT
dem-2899	298	8	(	(	PUNCT
dem-2899	298	9	)	)	PUNCT
dem-2899	298	10	(	(	PUNCT
dem-2899	298	11	1	1	X
dem-2899	298	12	)	)	PUNCT
dem-2899	298	13	(	(	PUNCT
dem-2899	298	14	)	)	PUNCT
dem-2899	299	1	[	[	X
dem-2899	299	2	1	1	NUM
dem-2899	299	3	(	(	PUNCT
dem-2899	299	4	)	)	PUNCT
dem-2899	299	5	]	]	PUNCT
dem-2899	299	6	(	(	PUNCT
dem-2899	299	7	)	)	PUNCT
dem-2899	299	8	,	,	PUNCT
dem-2899	300	1	d	d	PROPN
dem-2899	300	2	t	t	NOUN
dem-2899	301	1	i	i	PRON
dem-2899	301	2	t	t	VERB
dem-2899	301	3	i	i	PRON
dem-2899	301	4	tl	tl	PROPN
dem-2899	302	1	l	l	NOUN
dem-2899	302	2	y	y	PROPN
dem-2899	302	3	l	l	NOUN
dem-2899	302	4	yα	yα	ADV
dem-2899	302	5	σ	σ	X
dem-2899	302	6	β	β	X
dem-2899	302	7	σ−	σ−	NOUN
dem-2899	302	8	−	−	NOUN
dem-2899	303	1	=	=	PUNCT
dem-2899	304	1	−	−	PROPN
dem-2899	304	2	−	−	PROPN
dem-2899	304	3	(	(	PUNCT
dem-2899	304	4	2	2	NUM
dem-2899	304	5	)	)	PUNCT
dem-2899	304	6	where	where	SCONJ
dem-2899	304	7	:	:	PUNCT
dem-2899	304	8	∑∑	∑∑	PROPN
dem-2899	304	9	=	=	SYM
dem-2899	304	10	=	=	SYM
dem-2899	304	11	−=β−=α	−=β−=α	NOUN
dem-2899	304	12	p	p	X
dem-2899	305	1	i	i	PRON
dem-2899	305	2	i	i	PRON
dem-2899	306	1	i	i	PRON
dem-2899	306	2	q	q	VERB
dem-2899	307	1	i	i	PRON
dem-2899	307	2	i	i	PRON
dem-2899	308	1	i	i	PRON
dem-2899	308	2	llll	llll	VERB
dem-2899	308	3	11	11	NUM
dem-2899	308	4	1)(,1	1)(,1	NUM
dem-2899	308	5	)	)	PUNCT
dem-2899	308	6	(	(	PUNCT
dem-2899	308	7	βα	βα	X
dem-2899	308	8	,	,	PUNCT
dem-2899	308	9	a	a	DET
dem-2899	308	10	10	10	NUM
dem-2899	308	11	≤≤	≤≤	NUM
dem-2899	308	12	d	d	NOUN
dem-2899	308	13	is	be	AUX
dem-2899	308	14	fractionally	fractionally	ADV
dem-2899	308	15	integrated	integrate	VERB
dem-2899	308	16	parameter	parameter	NOUN
dem-2899	308	17	.	.	PUNCT
dem-2899	309	1	the	the	DET
dem-2899	309	2	dcc	dcc	PROPN
dem-2899	309	3	model	model	NOUN
dem-2899	309	4	(	(	PUNCT
dem-2899	309	5	engle	engle	PROPN
dem-2899	309	6	,	,	PUNCT
dem-2899	309	7	2002	2002	NUM
dem-2899	309	8	)	)	PUNCT
dem-2899	309	9	.	.	PUNCT
dem-2899	310	1	let	let	VERB
dem-2899	310	2	us	we	PRON
dem-2899	310	3	denote	denote	VERB
dem-2899	310	4	by	by	ADP
dem-2899	310	5	ty	ty	PRON
dem-2899	310	6	the	the	DET
dem-2899	310	7	value	value	NOUN
dem-2899	310	8	of	of	ADP
dem-2899	310	9	the	the	DET
dem-2899	310	10	process	process	NOUN
dem-2899	310	11	at	at	ADP
dem-2899	310	12	time	time	NOUN
dem-2899	310	13	t.	t.	PROPN
dem-2899	310	14	let	let	VERB
dem-2899	310	15	us	we	PRON
dem-2899	310	16	assume	assume	VERB
dem-2899	310	17	also	also	ADV
dem-2899	310	18	that	that	SCONJ
dem-2899	310	19	:	:	PUNCT
dem-2899	310	20	1|	1|	NUM
dem-2899	310	21	~	~	PUNCT
dem-2899	310	22	(	(	PUNCT
dem-2899	310	23	,	,	PUNCT
dem-2899	310	24	)	)	PUNCT
dem-2899	310	25	,	,	PUNCT
dem-2899	310	26	,	,	PUNCT
dem-2899	311	1	ft	ft	PROPN
dem-2899	311	2	t	t	PROPN
dem-2899	311	3	t	t	PROPN
dem-2899	311	4	t	t	PROPN
dem-2899	311	5	t	t	PROPN
dem-2899	311	6	t	t	PROPN
dem-2899	311	7	t	t	PROPN
dem-2899	311	8	y	y	PROPN
dem-2899	311	9	n−	n−	PROPN
dem-2899	311	10	=	=	SYM
dem-2899	311	11	0	0	NUM
dem-2899	311	12	h	h	NOUN
dem-2899	311	13	h	h	NOUN
dem-2899	312	1	d	d	NOUN
dem-2899	312	2	r	r	NOUN
dem-2899	312	3	d	d	X
dem-2899	312	4	(	(	PUNCT
dem-2899	312	5	3	3	NUM
dem-2899	312	6	)	)	PUNCT
dem-2899	312	7	where	where	SCONJ
dem-2899	312	8	:	:	PUNCT
dem-2899	312	9	11	11	NUM
dem-2899	312	10	,	,	PUNCT
dem-2899	312	11	,	,	PUNCT
dem-2899	312	12	2	2	NUM
dem-2899	312	13	,	,	PUNCT
dem-2899	312	14	,	,	PUNCT
dem-2899	312	15	,	,	PUNCT
dem-2899	312	16	,	,	PUNCT
dem-2899	312	17	1	1	NUM
dem-2899	312	18	1	1	NUM
dem-2899	312	19	1/2	1/2	NUM
dem-2899	312	20	1/2	1/2	NUM
dem-2899	312	21	'	'	NUM
dem-2899	312	22	1	1	NUM
dem-2899	312	23	1	1	NUM
dem-2899	312	24	1	1	NUM
dem-2899	312	25	1	1	NUM
dem-2899	312	26	(	(	PUNCT
dem-2899	312	27	,	,	PUNCT
dem-2899	312	28	...	...	PUNCT
dem-2899	312	29	,	,	PUNCT
dem-2899	312	30	)	)	PUNCT
dem-2899	312	31	,	,	PUNCT
dem-2899	312	32	,	,	PUNCT
dem-2899	312	33	1	1	NUM
dem-2899	312	34	,	,	PUNCT
dem-2899	312	35	...	...	PUNCT
dem-2899	312	36	,	,	PUNCT
dem-2899	312	37	,	,	PUNCT
dem-2899	312	38	(	(	PUNCT
dem-2899	312	39	(	(	PUNCT
dem-2899	312	40	)	)	PUNCT
dem-2899	312	41	(	(	PUNCT
dem-2899	312	42	(	(	PUNCT
dem-2899	312	43	)	)	PUNCT
dem-2899	312	44	)	)	PUNCT
dem-2899	312	45	,	,	PUNCT
dem-2899	312	46	1	1	X
dem-2899	312	47	.	.	PUNCT
dem-2899	313	1	t	t	PROPN
dem-2899	313	2	t	t	PROPN
dem-2899	313	3	kk	kk	PROPN
dem-2899	313	4	t	t	PROPN
dem-2899	313	5	q	q	PROPN
dem-2899	314	1	p	p	PROPN
dem-2899	314	2	ii	ii	PROPN
dem-2899	315	1	t	t	NOUN
dem-2899	316	1	i	i	PRON
dem-2899	316	2	t	t	X
dem-2899	317	1	ij	ij	INTJ
dem-2899	318	1	i	i	PRON
dem-2899	318	2	t	t	PROPN
dem-2899	318	3	j	j	PROPN
dem-2899	319	1	ij	ij	PROPN
dem-2899	319	2	ii	ii	PROPN
dem-2899	319	3	t	t	PROPN
dem-2899	320	1	j	j	PROPN
dem-2899	320	2	j	j	PROPN
dem-2899	320	3	j	j	PROPN
dem-2899	320	4	t	t	PROPN
dem-2899	320	5	t	t	PROPN
dem-2899	320	6	t	t	PROPN
dem-2899	320	7	t	t	PROPN
dem-2899	320	8	m	m	VERB
dem-2899	320	9	n	n	PRON
dem-2899	320	10	m	m	NOUN
dem-2899	320	11	n	n	NUM
dem-2899	320	12	t	t	PROPN
dem-2899	320	13	m	m	VERB
dem-2899	320	14	n	n	PRON
dem-2899	320	15	m	m	PROPN
dem-2899	320	16	t	t	NOUN
dem-2899	320	17	m	m	PROPN
dem-2899	320	18	t	t	PROPN
dem-2899	320	19	m	m	PROPN
dem-2899	320	20	n	n	PROPN
dem-2899	320	21	t	t	PROPN
dem-2899	320	22	n	n	CCONJ
dem-2899	320	23	m	m	VERB
dem-2899	320	24	n	n	PRON
dem-2899	320	25	m	m	NOUN
dem-2899	320	26	n	n	PRON
dem-2899	320	27	diag	diag	NOUN
dem-2899	320	28	h	h	NOUN
dem-2899	320	29	h	h	NOUN
dem-2899	321	1	h	h	NOUN
dem-2899	322	1	y	y	NOUN
dem-2899	322	2	h	h	NOUN
dem-2899	323	1	i	i	PRON
dem-2899	323	2	k	k	NOUN
dem-2899	324	1	r	r	NOUN
dem-2899	324	2	diag	diag	NOUN
dem-2899	324	3	diag	diag	VERB
dem-2899	324	4	a	a	DET
dem-2899	324	5	b	b	NOUN
dem-2899	324	6	a	a	DET
dem-2899	324	7	b	b	NOUN
dem-2899	324	8	ϖ	ϖ	INTJ
dem-2899	324	9	α	α	NOUN
dem-2899	324	10	β−	β−	PUNCT
dem-2899	325	1	−	−	NOUN
dem-2899	326	1	=	=	PUNCT
dem-2899	326	2	=	=	PUNCT
dem-2899	327	1	−	−	PROPN
dem-2899	327	2	−	−	NUM
dem-2899	328	1	−	−	NOUN
dem-2899	328	2	−	−	NOUN
dem-2899	329	1	−	−	PROPN
dem-2899	329	2	=	=	PUNCT
dem-2899	330	1	=	=	PUNCT
dem-2899	330	2	=	=	PUNCT
dem-2899	330	3	=	=	PUNCT
dem-2899	330	4	=	=	PUNCT
dem-2899	330	5	=	=	PUNCT
dem-2899	331	1	+	+	PUNCT
dem-2899	331	2	+	+	NUM
dem-2899	331	3	=	=	SYM
dem-2899	331	4	=	=	SYM
dem-2899	331	5	⎛	⎛	NOUN
dem-2899	331	6	⎞	⎞	NOUN
dem-2899	331	7	=	=	PUNCT
dem-2899	331	8	−	−	NOUN
dem-2899	331	9	−	−	PROPN
dem-2899	332	1	+	+	CCONJ
dem-2899	332	2	+	+	ADJ
dem-2899	332	3	⎜	⎜	X
dem-2899	332	4	⎟	⎟	X
dem-2899	332	5	⎝	⎝	PUNCT
dem-2899	332	6	⎠	⎠	PROPN
dem-2899	332	7	∑	∑	PROPN
dem-2899	332	8	∑	∑	PROPN
dem-2899	332	9	∑	∑	PROPN
dem-2899	332	10	∑	∑	PROPN
dem-2899	332	11	∑	∑	PROPN
dem-2899	332	12	∑	∑	PROPN
dem-2899	332	13	d	d	X
dem-2899	332	14	q	q	X
dem-2899	332	15	q	q	X
dem-2899	332	16	q	q	X
dem-2899	332	17	q	q	X
dem-2899	332	18	q	q	X
dem-2899	332	19	u	u	X
dem-2899	332	20	u	u	NOUN
dem-2899	332	21	q	q	NOUN
dem-2899	332	22	(	(	PUNCT
dem-2899	332	23	4	4	NUM
dem-2899	332	24	)	)	PUNCT
dem-2899	332	25	agata	agata	PROPN
dem-2899	332	26	kliber	kliber	PROPN
dem-2899	332	27	,	,	PUNCT
dem-2899	332	28	barbara	barbara	PROPN
dem-2899	332	29	będowska	będowska	PROPN
dem-2899	332	30	-	-	PUNCT
dem-2899	332	31	sójka	sójka	ADV
dem-2899	332	32	dynamic	dynamic	ADJ
dem-2899	332	33	econometric	econometric	ADJ
dem-2899	332	34	models	model	NOUN
dem-2899	332	35	13	13	NUM
dem-2899	332	36	(	(	PUNCT
dem-2899	332	37	2013	2013	NUM
dem-2899	332	38	)	)	PUNCT
dem-2899	332	39	87–106	87–106	PROPN
dem-2899	332	40	106	106	NUM
dem-2899	332	41	the	the	DET
dem-2899	332	42	vectors	vector	NOUN
dem-2899	332	43	tu	tu	X
dem-2899	332	44	are	be	AUX
dem-2899	332	45	k	k	ADJ
dem-2899	332	46	–	–	PUNCT
dem-2899	332	47	dimensional	dimensional	ADJ
dem-2899	332	48	and	and	CCONJ
dem-2899	332	49	,	,	PUNCT
dem-2899	332	50	,	,	PUNCT
dem-2899	332	51	/it	/it	PROPN
dem-2899	333	1	i	i	PRON
dem-2899	333	2	t	t	PROPN
dem-2899	333	3	ii	ii	PROPN
dem-2899	334	1	tu	tu	PROPN
dem-2899	334	2	y	y	PROPN
dem-2899	334	3	h=	h=	VERB
dem-2899	334	4	.the	.the	PUNCT
dem-2899	335	1	k	k	ADJ
dem-2899	335	2	–	–	PUNCT
dem-2899	335	3	dimensional	dimensional	ADJ
dem-2899	335	4	matrix	matrix	NOUN
dem-2899	335	5	q	q	NOUN
dem-2899	335	6	is	be	AUX
dem-2899	335	7	the	the	DET
dem-2899	335	8	unconditional	unconditional	ADJ
dem-2899	335	9	covariance	covariance	NOUN
dem-2899	335	10	matrix	matrix	NOUN
dem-2899	335	11	of	of	ADP
dem-2899	335	12	.tu	.tu	PUNCT
dem-2899	336	1	it	it	PRON
dem-2899	336	2	is	be	AUX
dem-2899	336	3	also	also	ADV
dem-2899	336	4	assumed	assume	VERB
dem-2899	336	5	that	that	SCONJ
dem-2899	336	6	the	the	DET
dem-2899	336	7	scalars	scalar	NOUN
dem-2899	336	8	ma	ma	PROPN
dem-2899	336	9	and	and	CCONJ
dem-2899	336	10	nb	nb	PROPN
dem-2899	336	11	are	be	AUX
dem-2899	336	12	non	non	ADJ
dem-2899	336	13	–	–	PUNCT
dem-2899	336	14	negative	negative	ADJ
dem-2899	336	15	and	and	CCONJ
dem-2899	336	16	1	1	NUM
dem-2899	336	17	1	1	NUM
dem-2899	336	18	1	1	NUM
dem-2899	336	19	.	.	PUNCT
dem-2899	337	1	m	m	VERB
dem-2899	337	2	n	n	VERB
dem-2899	337	3	m	m	VERB
dem-2899	337	4	n	n	PRON
dem-2899	337	5	m	m	PROPN
dem-2899	337	6	n	n	ADV
dem-2899	337	7	a	a	DET
dem-2899	337	8	b	b	NOUN
dem-2899	337	9	=	=	SYM
dem-2899	337	10	=	=	PUNCT
dem-2899	338	1	+	+	NUM
dem-2899	338	2	<	<	X
dem-2899	338	3	∑	∑	PROPN
dem-2899	338	4	∑	∑	ADV
dem-2899	338	5	in	in	ADP
dem-2899	338	6	our	our	PRON
dem-2899	338	7	study	study	NOUN
dem-2899	338	8	we	we	PRON
dem-2899	338	9	estimated	estimate	VERB
dem-2899	338	10	the	the	DET
dem-2899	338	11	model	model	NOUN
dem-2899	338	12	with	with	ADP
dem-2899	338	13	student	student	NOUN
dem-2899	338	14	distribution	distribution	NOUN
dem-2899	338	15	,	,	PUNCT
dem-2899	338	16	i.e.	i.e.	X
dem-2899	338	17	we	we	PRON
dem-2899	338	18	assumed	assume	VERB
dem-2899	338	19	that	that	SCONJ
dem-2899	338	20	:	:	PUNCT
dem-2899	338	21	1|	1|	NUM
dem-2899	338	22	~	~	PUNCT
dem-2899	338	23	(	(	PUNCT
dem-2899	338	24	,	,	PUNCT
dem-2899	338	25	,	,	PUNCT
dem-2899	338	26	)	)	PUNCT
dem-2899	338	27	,	,	PUNCT
dem-2899	338	28	ft	ft	PROPN
dem-2899	338	29	t	t	PROPN
dem-2899	338	30	ty	ty	INTJ
dem-2899	338	31	t	t	PROPN
dem-2899	338	32	ν−	ν−	PROPN
dem-2899	338	33	0	0	NUM
dem-2899	338	34	h	h	NOUN
dem-2899	338	35	where	where	SCONJ
dem-2899	338	36	ν	ν	PROPN
dem-2899	338	37	denotes	denote	VERB
dem-2899	338	38	degrees	degree	NOUN
dem-2899	338	39	of	of	ADP
dem-2899	338	40	freedom	freedom	NOUN
dem-2899	338	41	.	.	PUNCT
dem-2899	339	1	the	the	DET
dem-2899	339	2	value	value	NOUN
dem-2899	339	3	of	of	ADP
dem-2899	339	4	this	this	DET
dem-2899	339	5	parameter	parameter	NOUN
dem-2899	339	6	is	be	AUX
dem-2899	339	7	established	establish	VERB
dem-2899	339	8	through	through	ADP
dem-2899	339	9	estimation	estimation	NOUN
dem-2899	339	10	.	.	PUNCT
dem-2899	340	1	when	when	SCONJ
dem-2899	340	2	2ν	2ν	NOUN
dem-2899	340	3	>	>	X
dem-2899	340	4	,	,	PUNCT
dem-2899	340	5	then	then	ADV
dem-2899	340	6	th	th	X
dem-2899	340	7	exists	exist	VERB
dem-2899	340	8	and	and	CCONJ
dem-2899	340	9	is	be	AUX
dem-2899	340	10	interpretable	interpretable	ADJ
dem-2899	340	11	as	as	ADP
dem-2899	340	12	a	a	DET
dem-2899	340	13	conditional	conditional	ADJ
dem-2899	340	14	variance	variance	NOUN
dem-2899	340	15	matrix	matrix	NOUN
dem-2899	340	16	.	.	PUNCT
dem-2899	341	1	the	the	DET
dem-2899	341	2	model	model	NOUN
dem-2899	341	3	was	be	AUX
dem-2899	341	4	estimated	estimate	VERB
dem-2899	341	5	using	use	VERB
dem-2899	341	6	the	the	DET
dem-2899	341	7	two	two	NUM
dem-2899	341	8	–	–	PUNCT
dem-2899	341	9	step	step	NOUN
dem-2899	341	10	procedure	procedure	NOUN
dem-2899	341	11	.	.	PUNCT
dem-2899	342	1	first	first	ADV
dem-2899	342	2	,	,	PUNCT
dem-2899	342	3	the	the	DET
dem-2899	342	4	q	q	NOUN
dem-2899	342	5	was	be	AUX
dem-2899	342	6	estimated	estimate	VERB
dem-2899	342	7	as	as	ADP
dem-2899	342	8	the	the	DET
dem-2899	342	9	unconditional	unconditional	ADJ
dem-2899	342	10	correlation	correlation	NOUN
dem-2899	342	11	matrix	matrix	NOUN
dem-2899	342	12	of	of	ADP
dem-2899	342	13	.tu	.tu	PUNCT
dem-2899	343	1	then	then	ADV
dem-2899	343	2	,	,	PUNCT
dem-2899	343	3	the	the	DET
dem-2899	343	4	parameters	parameter	NOUN
dem-2899	343	5	a	a	PRON
dem-2899	343	6	and	and	CCONJ
dem-2899	343	7	b	b	NOUN
dem-2899	343	8	were	be	AUX
dem-2899	343	9	estimated	estimate	VERB
dem-2899	343	10	by	by	ADP
dem-2899	343	11	gaussian	gaussian	ADJ
dem-2899	343	12	quasi	quasi	NOUN
dem-2899	343	13	maximum	maximum	PROPN
dem-2899	343	14	likelihood	likelihood	NOUN
dem-2899	343	15	.	.	PUNCT
dem-2899	343	16	bollerslev	bollerslev	PROPN
dem-2899	343	17	and	and	CCONJ
dem-2899	343	18	wooldridge	wooldridge	PROPN
dem-2899	343	19	(	(	PUNCT
dem-2899	343	20	1992	1992	NUM
dem-2899	343	21	)	)	PUNCT
dem-2899	343	22	showed	show	VERB
dem-2899	343	23	that	that	SCONJ
dem-2899	343	24	even	even	ADV
dem-2899	343	25	in	in	ADP
dem-2899	343	26	the	the	DET
dem-2899	343	27	case	case	NOUN
dem-2899	343	28	when	when	SCONJ
dem-2899	343	29	data	data	NOUN
dem-2899	343	30	generating	generating	NOUN
dem-2899	343	31	process	process	NOUN
dem-2899	343	32	is	be	AUX
dem-2899	343	33	not	not	PART
dem-2899	343	34	conditionally	conditionally	ADV
dem-2899	343	35	gaussian	gaussian	ADJ
dem-2899	343	36	,	,	PUNCT
dem-2899	343	37	we	we	PRON
dem-2899	343	38	can	can	AUX
dem-2899	343	39	obtain	obtain	VERB
dem-2899	343	40	a	a	DET
dem-2899	343	41	consistent	consistent	ADJ
dem-2899	343	42	estimator	estimator	NOUN
dem-2899	343	43	using	use	VERB
dem-2899	343	44	the	the	DET
dem-2899	343	45	gaussian	gaussian	ADJ
dem-2899	343	46	quasi	quasi	NOUN
dem-2899	343	47	maximum	maximum	ADJ
dem-2899	343	48	likelihood	likelihood	NOUN
dem-2899	343	49	.	.	PUNCT
dem-2899	344	1	for	for	ADP
dem-2899	344	2	more	more	ADJ
dem-2899	344	3	details	detail	NOUN
dem-2899	344	4	considering	consider	VERB
dem-2899	344	5	estimation	estimation	NOUN
dem-2899	344	6	in	in	ADP
dem-2899	344	7	g@rch	g@rch	NOUN
dem-2899	344	8	package	package	NOUN
dem-2899	344	9	see	see	VERB
dem-2899	344	10	eg	eg	NOUN
dem-2899	344	11	.	.	PUNCT
dem-2899	345	1	(	(	PUNCT
dem-2899	345	2	laurent	laurent	NOUN
dem-2899	345	3	et	et	PROPN
dem-2899	345	4	al	al	PROPN
dem-2899	345	5	.	.	PROPN
dem-2899	345	6	,	,	PUNCT
dem-2899	345	7	2012	2012	NUM
dem-2899	345	8	)	)	PUNCT
dem-2899	345	9	.	.	PUNCT