id	sid	tid	token	lemma	pos
dem-4212	1	1	microsoft	microsoft	PROPN
dem-4212	1	2	word	word	NOUN
dem-4212	1	3	00_tresc.docx	00_tresc.docx	PRON
dem-4212	1	4	dynamic	dynamic	ADJ
dem-4212	1	5	econometric	econometric	ADJ
dem-4212	1	6	models	model	NOUN
dem-4212	1	7	vol	vol	NOUN
dem-4212	1	8	.	.	PROPN
dem-4212	1	9	9	9	NUM
dem-4212	1	10	–	–	PUNCT
dem-4212	1	11	nicolaus	nicolaus	PROPN
dem-4212	1	12	copernicus	copernicus	PROPN
dem-4212	1	13	university	university	PROPN
dem-4212	1	14	–	–	PUNCT
dem-4212	1	15	toruń	toruń	NOUN
dem-4212	1	16	–	–	PUNCT
dem-4212	1	17	2009	2009	NUM
dem-4212	1	18	roman	roman	ADJ
dem-4212	1	19	huptas	hupta	NOUN
dem-4212	1	20	cracow	cracow	PROPN
dem-4212	1	21	university	university	PROPN
dem-4212	1	22	of	of	ADP
dem-4212	1	23	economics	economics	PROPN
dem-4212	1	24	intraday	intraday	PROPN
dem-4212	1	25	seasonality	seasonality	NOUN
dem-4212	1	26	in	in	ADP
dem-4212	1	27	analysis	analysis	NOUN
dem-4212	1	28	of	of	ADP
dem-4212	1	29	uhf	uhf	PROPN
dem-4212	1	30	financial	financial	ADJ
dem-4212	1	31	data	datum	NOUN
dem-4212	1	32	:	:	PUNCT
dem-4212	1	33	models	model	NOUN
dem-4212	1	34	and	and	CCONJ
dem-4212	1	35	their	their	PRON
dem-4212	1	36	empirical	empirical	ADJ
dem-4212	1	37	verification	verification	NOUN
dem-4212	1	38	a	a	DET
dem-4212	1	39	b	b	NOUN
dem-4212	1	40	s	s	ADP
dem-4212	1	41	t	t	PROPN
dem-4212	1	42	r	r	NOUN
dem-4212	1	43	a	a	DET
dem-4212	1	44	c	c	NOUN
dem-4212	1	45	t.	t.	NOUN
dem-4212	1	46	the	the	DET
dem-4212	1	47	aim	aim	NOUN
dem-4212	1	48	of	of	ADP
dem-4212	1	49	this	this	DET
dem-4212	1	50	paper	paper	NOUN
dem-4212	1	51	is	be	AUX
dem-4212	1	52	to	to	PART
dem-4212	1	53	outline	outline	VERB
dem-4212	1	54	the	the	DET
dem-4212	1	55	typical	typical	ADJ
dem-4212	1	56	characteristics	characteristic	NOUN
dem-4212	1	57	of	of	ADP
dem-4212	1	58	the	the	DET
dem-4212	1	59	ultra	ultra	ADJ
dem-4212	1	60	-	-	ADJ
dem-4212	1	61	highfrequency	highfrequency	ADJ
dem-4212	1	62	financial	financial	ADJ
dem-4212	1	63	data	datum	NOUN
dem-4212	1	64	and	and	CCONJ
dem-4212	1	65	to	to	PART
dem-4212	1	66	present	present	ADJ
dem-4212	1	67	estimation	estimation	NOUN
dem-4212	1	68	methods	method	NOUN
dem-4212	1	69	of	of	ADP
dem-4212	1	70	intraday	intraday	NOUN
dem-4212	1	71	seasonality	seasonality	NOUN
dem-4212	1	72	of	of	ADP
dem-4212	1	73	trading	trading	NOUN
dem-4212	1	74	activity	activity	NOUN
dem-4212	1	75	.	.	PUNCT
dem-4212	2	1	ultra	ultra	ADJ
dem-4212	2	2	-	-	ADJ
dem-4212	2	3	high	high	ADJ
dem-4212	2	4	-	-	PUNCT
dem-4212	2	5	frequency	frequency	NOUN
dem-4212	2	6	financial	financial	ADJ
dem-4212	2	7	data	datum	NOUN
dem-4212	2	8	(	(	PUNCT
dem-4212	2	9	transactions	transaction	NOUN
dem-4212	2	10	data	datum	NOUN
dem-4212	2	11	or	or	CCONJ
dem-4212	2	12	tick	tick	NOUN
dem-4212	2	13	-	-	PUNCT
dem-4212	2	14	by	by	ADP
dem-4212	2	15	-	-	PUNCT
dem-4212	2	16	tick	tick	NOUN
dem-4212	2	17	data	datum	NOUN
dem-4212	2	18	)	)	PUNCT
dem-4212	2	19	is	be	AUX
dem-4212	2	20	defined	define	VERB
dem-4212	2	21	to	to	PART
dem-4212	2	22	be	be	AUX
dem-4212	2	23	a	a	DET
dem-4212	2	24	full	full	ADJ
dem-4212	2	25	record	record	NOUN
dem-4212	2	26	of	of	ADP
dem-4212	2	27	transactions	transaction	NOUN
dem-4212	2	28	and	and	CCONJ
dem-4212	2	29	their	their	PRON
dem-4212	2	30	associated	associated	ADJ
dem-4212	2	31	characteristics	characteristic	NOUN
dem-4212	2	32	.	.	PUNCT
dem-4212	3	1	we	we	PRON
dem-4212	3	2	consider	consider	VERB
dem-4212	3	3	two	two	NUM
dem-4212	3	4	nonparametric	nonparametric	NOUN
dem-4212	3	5	estimation	estimation	NOUN
dem-4212	3	6	methods	method	NOUN
dem-4212	3	7	:	:	PUNCT
dem-4212	3	8	cubic	cubic	ADJ
dem-4212	3	9	splines	spline	NOUN
dem-4212	3	10	and	and	CCONJ
dem-4212	3	11	a	a	DET
dem-4212	3	12	nadaraya	nadaraya	ADJ
dem-4212	3	13	-	-	PUNCT
dem-4212	3	14	watson	watson	PROPN
dem-4212	3	15	kernel	kernel	PROPN
dem-4212	3	16	estimator	estimator	NOUN
dem-4212	3	17	of	of	ADP
dem-4212	3	18	regression	regression	NOUN
dem-4212	3	19	.	.	PUNCT
dem-4212	4	1	both	both	DET
dem-4212	4	2	approaches	approach	NOUN
dem-4212	4	3	are	be	AUX
dem-4212	4	4	compared	compare	VERB
dem-4212	4	5	empirically	empirically	ADV
dem-4212	4	6	and	and	CCONJ
dem-4212	4	7	applied	apply	VERB
dem-4212	4	8	to	to	ADP
dem-4212	4	9	financial	financial	ADJ
dem-4212	4	10	data	datum	NOUN
dem-4212	4	11	of	of	ADP
dem-4212	4	12	stocks	stock	NOUN
dem-4212	4	13	traded	trade	VERB
dem-4212	4	14	at	at	ADP
dem-4212	4	15	the	the	DET
dem-4212	4	16	warsaw	warsaw	PROPN
dem-4212	4	17	stock	stock	PROPN
dem-4212	4	18	exchange	exchange	PROPN
dem-4212	4	19	.	.	PUNCT
dem-4212	5	1	k	k	PROPN
dem-4212	5	2	e	e	PROPN
dem-4212	5	3	y	y	PROPN
dem-4212	5	4	w	w	NOUN
dem-4212	5	5	o	o	NOUN
dem-4212	5	6	r	r	NOUN
dem-4212	5	7	d	d	PROPN
dem-4212	5	8	s	s	X
dem-4212	5	9	:	:	PUNCT
dem-4212	5	10	financial	financial	ADJ
dem-4212	5	11	uhf	uhf	PROPN
dem-4212	5	12	data	data	PROPN
dem-4212	5	13	,	,	PUNCT
dem-4212	5	14	intraday	intraday	NOUN
dem-4212	5	15	seasonality	seasonality	NOUN
dem-4212	5	16	,	,	PUNCT
dem-4212	5	17	diurnal	diurnal	ADJ
dem-4212	5	18	pattern	pattern	NOUN
dem-4212	5	19	,	,	PUNCT
dem-4212	5	20	cubic	cubic	ADJ
dem-4212	5	21	splines	spline	NOUN
dem-4212	5	22	,	,	PUNCT
dem-4212	5	23	kernel	kernel	PROPN
dem-4212	5	24	estimation	estimation	NOUN
dem-4212	5	25	.	.	PUNCT
dem-4212	6	1	1	1	X
dem-4212	6	2	.	.	X
dem-4212	6	3	introduction	introduction	NOUN
dem-4212	6	4	the	the	DET
dem-4212	6	5	last	last	ADJ
dem-4212	6	6	dozen	dozen	NOUN
dem-4212	6	7	or	or	CCONJ
dem-4212	6	8	so	so	ADJ
dem-4212	6	9	years	year	NOUN
dem-4212	6	10	has	have	AUX
dem-4212	6	11	witnessed	witness	VERB
dem-4212	6	12	mounting	mount	VERB
dem-4212	6	13	global	global	ADJ
dem-4212	6	14	interest	interest	NOUN
dem-4212	6	15	in	in	ADP
dem-4212	6	16	analyses	analysis	NOUN
dem-4212	6	17	of	of	ADP
dem-4212	6	18	the	the	DET
dem-4212	6	19	microstructure	microstructure	NOUN
dem-4212	6	20	of	of	ADP
dem-4212	6	21	financial	financial	ADJ
dem-4212	6	22	markets	market	NOUN
dem-4212	6	23	.	.	PUNCT
dem-4212	7	1	research	research	NOUN
dem-4212	7	2	into	into	ADP
dem-4212	7	3	the	the	DET
dem-4212	7	4	microstructure	microstructure	NOUN
dem-4212	7	5	of	of	ADP
dem-4212	7	6	financial	financial	ADJ
dem-4212	7	7	markets	market	NOUN
dem-4212	7	8	centres	centre	NOUN
dem-4212	7	9	around	around	ADV
dem-4212	7	10	explaining	explain	VERB
dem-4212	7	11	the	the	DET
dem-4212	7	12	process	process	NOUN
dem-4212	7	13	behind	behind	ADP
dem-4212	7	14	the	the	DET
dem-4212	7	15	shaping	shaping	NOUN
dem-4212	7	16	of	of	ADP
dem-4212	7	17	the	the	DET
dem-4212	7	18	price	price	NOUN
dem-4212	7	19	of	of	ADP
dem-4212	7	20	financial	financial	ADJ
dem-4212	7	21	instruments	instrument	NOUN
dem-4212	7	22	and	and	CCONJ
dem-4212	7	23	analyses	analysis	NOUN
dem-4212	7	24	of	of	ADP
dem-4212	7	25	individual	individual	ADJ
dem-4212	7	26	trade	trade	NOUN
dem-4212	7	27	events	event	NOUN
dem-4212	7	28	.	.	PUNCT
dem-4212	8	1	the	the	DET
dem-4212	8	2	impact	impact	NOUN
dem-4212	8	3	of	of	ADP
dem-4212	8	4	various	various	ADJ
dem-4212	8	5	transaction	transaction	NOUN
dem-4212	8	6	factors	factor	NOUN
dem-4212	8	7	and	and	CCONJ
dem-4212	8	8	mechanisms	mechanism	NOUN
dem-4212	8	9	on	on	ADP
dem-4212	8	10	the	the	DET
dem-4212	8	11	way	way	NOUN
dem-4212	8	12	in	in	ADP
dem-4212	8	13	which	which	PRON
dem-4212	8	14	instruments	instrument	NOUN
dem-4212	8	15	prices	price	NOUN
dem-4212	8	16	are	be	AUX
dem-4212	8	17	shaped	shape	VERB
dem-4212	8	18	was	be	AUX
dem-4212	8	19	captured	capture	VERB
dem-4212	8	20	by	by	ADP
dem-4212	8	21	the	the	DET
dem-4212	8	22	so	so	ADV
dem-4212	8	23	-	-	PUNCT
dem-4212	8	24	called	call	VERB
dem-4212	8	25	theoretical	theoretical	ADJ
dem-4212	8	26	microstructure	microstructure	ADJ
dem-4212	8	27	models	model	NOUN
dem-4212	8	28	.	.	PUNCT
dem-4212	9	1	a	a	DET
dem-4212	9	2	review	review	NOUN
dem-4212	9	3	of	of	ADP
dem-4212	9	4	those	those	DET
dem-4212	9	5	models	model	NOUN
dem-4212	9	6	and	and	CCONJ
dem-4212	9	7	numerous	numerous	ADJ
dem-4212	9	8	issues	issue	NOUN
dem-4212	9	9	collectively	collectively	ADV
dem-4212	9	10	referred	refer	VERB
dem-4212	9	11	to	to	ADP
dem-4212	9	12	as	as	SCONJ
dem-4212	9	13	market	market	NOUN
dem-4212	9	14	microstructure	microstructure	NOUN
dem-4212	9	15	effects	effect	NOUN
dem-4212	9	16	was	be	AUX
dem-4212	9	17	incorporated	incorporate	VERB
dem-4212	9	18	into	into	ADP
dem-4212	9	19	o’hara	o’hara	NOUN
dem-4212	9	20	(	(	PUNCT
dem-4212	9	21	1995	1995	NUM
dem-4212	9	22	)	)	PUNCT
dem-4212	9	23	and	and	CCONJ
dem-4212	9	24	dacorogna	dacorogna	VERB
dem-4212	9	25	et	et	PROPN
dem-4212	9	26	al	al	PROPN
dem-4212	9	27	.	.	PROPN
dem-4212	10	1	(	(	PUNCT
dem-4212	10	2	2001	2001	NUM
dem-4212	10	3	)	)	PUNCT
dem-4212	10	4	(	(	PUNCT
dem-4212	10	5	cf	cf	X
dem-4212	10	6	.	.	PUNCT
dem-4212	11	1	doman	doman	PROPN
dem-4212	11	2	,	,	PUNCT
dem-4212	11	3	doman	doman	PROPN
dem-4212	11	4	,	,	PUNCT
dem-4212	11	5	2004	2004	NUM
dem-4212	11	6	;	;	PUNCT
dem-4212	11	7	bień	bień	PROPN
dem-4212	11	8	,	,	PUNCT
dem-4212	11	9	2006	2006	NUM
dem-4212	11	10	)	)	PUNCT
dem-4212	11	11	.	.	PUNCT
dem-4212	12	1	analysis	analysis	NOUN
dem-4212	12	2	of	of	ADP
dem-4212	12	3	financial	financial	ADJ
dem-4212	12	4	market	market	NOUN
dem-4212	12	5	processes	process	NOUN
dem-4212	12	6	and	and	CCONJ
dem-4212	12	7	empirical	empirical	ADJ
dem-4212	12	8	verification	verification	NOUN
dem-4212	12	9	of	of	ADP
dem-4212	12	10	hypotheses	hypothesis	NOUN
dem-4212	12	11	arising	arise	VERB
dem-4212	12	12	from	from	ADP
dem-4212	12	13	theoretical	theoretical	ADJ
dem-4212	12	14	microstructure	microstructure	NOUN
dem-4212	12	15	models	model	NOUN
dem-4212	12	16	were	be	AUX
dem-4212	12	17	made	make	VERB
dem-4212	12	18	possible	possible	ADJ
dem-4212	12	19	by	by	ADP
dem-4212	12	20	the	the	DET
dem-4212	12	21	newly	newly	ADV
dem-4212	12	22	-	-	PUNCT
dem-4212	12	23	gained	gain	VERB
dem-4212	12	24	access	access	NOUN
dem-4212	12	25	to	to	ADP
dem-4212	12	26	transactional	transactional	ADJ
dem-4212	12	27	databases	database	NOUN
dem-4212	12	28	.	.	PUNCT
dem-4212	13	1	these	these	DET
dem-4212	13	2	databases	database	NOUN
dem-4212	13	3	became	become	VERB
dem-4212	13	4	the	the	DET
dem-4212	13	5	source	source	NOUN
dem-4212	13	6	of	of	ADP
dem-4212	13	7	specific	specific	ADJ
dem-4212	13	8	financial	financial	ADJ
dem-4212	13	9	time	time	NOUN
dem-4212	13	10	series	series	PROPN
dem-4212	13	11	referred	refer	VERB
dem-4212	13	12	to	to	ADP
dem-4212	13	13	as	as	ADP
dem-4212	13	14	ultra	ultra	ADJ
dem-4212	13	15	-	-	ADJ
dem-4212	13	16	high	high	ADJ
dem-4212	13	17	-	-	PUNCT
dem-4212	13	18	frequency	frequency	NOUN
dem-4212	13	19	or	or	CCONJ
dem-4212	13	20	tick	tick	NOUN
dem-4212	13	21	-	-	PUNCT
dem-4212	13	22	by	by	ADP
dem-4212	13	23	-	-	PUNCT
dem-4212	13	24	tick	tick	NOUN
dem-4212	13	25	data	datum	NOUN
dem-4212	13	26	.	.	PUNCT
dem-4212	14	1	new	new	ADJ
dem-4212	14	2	modelling	modelling	NOUN
dem-4212	14	3	tools	tool	NOUN
dem-4212	14	4	for	for	ADP
dem-4212	14	5	financial	financial	ADJ
dem-4212	14	6	time	time	NOUN
dem-4212	14	7	series	series	PROPN
dem-4212	14	8	anticipate	anticipate	VERB
dem-4212	14	9	specific	specific	ADJ
dem-4212	14	10	qualities	quality	NOUN
dem-4212	14	11	of	of	ADP
dem-4212	14	12	transaction	transaction	NOUN
dem-4212	14	13	data	datum	NOUN
dem-4212	14	14	.	.	PUNCT
dem-4212	15	1	they	they	PRON
dem-4212	15	2	include	include	VERB
dem-4212	15	3	,	,	PUNCT
dem-4212	15	4	above	above	ADP
dem-4212	15	5	all	all	PRON
dem-4212	15	6	,	,	PUNCT
dem-4212	15	7	asynchronous	asynchronous	ADJ
dem-4212	15	8	distributions	distribution	NOUN
dem-4212	15	9	of	of	ADP
dem-4212	15	10	obserroman	obserroman	ADJ
dem-4212	15	11	huptas	hupta	NOUN
dem-4212	15	12	130	130	NUM
dem-4212	15	13	vations	vation	NOUN
dem-4212	15	14	relative	relative	ADJ
dem-4212	15	15	to	to	ADP
dem-4212	15	16	time	time	NOUN
dem-4212	15	17	units	unit	NOUN
dem-4212	15	18	and	and	CCONJ
dem-4212	15	19	discrete	discrete	ADJ
dem-4212	15	20	price	price	NOUN
dem-4212	15	21	changes	change	NOUN
dem-4212	15	22	.	.	PUNCT
dem-4212	16	1	additionally	additionally	ADV
dem-4212	16	2	,	,	PUNCT
dem-4212	16	3	the	the	DET
dem-4212	16	4	individual	individual	ADJ
dem-4212	16	5	events	event	NOUN
dem-4212	16	6	of	of	ADP
dem-4212	16	7	the	the	DET
dem-4212	16	8	transaction	transaction	NOUN
dem-4212	16	9	process	process	NOUN
dem-4212	16	10	manifest	manifest	VERB
dem-4212	16	11	themselves	themselves	PRON
dem-4212	16	12	with	with	ADP
dem-4212	16	13	varying	vary	VERB
dem-4212	16	14	frequency	frequency	NOUN
dem-4212	16	15	from	from	ADP
dem-4212	16	16	one	one	NUM
dem-4212	16	17	time	time	NOUN
dem-4212	16	18	period	period	NOUN
dem-4212	16	19	to	to	ADP
dem-4212	16	20	another	another	PRON
dem-4212	16	21	.	.	PUNCT
dem-4212	17	1	consequently	consequently	ADV
dem-4212	17	2	,	,	PUNCT
dem-4212	17	3	there	there	PRON
dem-4212	17	4	may	may	AUX
dem-4212	17	5	be	be	AUX
dem-4212	17	6	–	–	PUNCT
dem-4212	17	7	from	from	ADP
dem-4212	17	8	one	one	NUM
dem-4212	17	9	day	day	NOUN
dem-4212	17	10	to	to	ADP
dem-4212	17	11	the	the	DET
dem-4212	17	12	next	next	ADJ
dem-4212	17	13	–	–	PUNCT
dem-4212	17	14	certain	certain	ADJ
dem-4212	17	15	repeat	repeat	NOUN
dem-4212	17	16	pattern	pattern	NOUN
dem-4212	17	17	of	of	ADP
dem-4212	17	18	intensity	intensity	NOUN
dem-4212	17	19	with	with	ADP
dem-4212	17	20	which	which	PRON
dem-4212	17	21	transactions	transaction	NOUN
dem-4212	17	22	are	be	AUX
dem-4212	17	23	concluded	conclude	VERB
dem-4212	17	24	.	.	PUNCT
dem-4212	18	1	in	in	ADP
dem-4212	18	2	pertinent	pertinent	ADJ
dem-4212	18	3	literature	literature	NOUN
dem-4212	18	4	,	,	PUNCT
dem-4212	18	5	this	this	DET
dem-4212	18	6	pattern	pattern	NOUN
dem-4212	18	7	is	be	AUX
dem-4212	18	8	referred	refer	VERB
dem-4212	18	9	to	to	ADP
dem-4212	18	10	as	as	ADP
dem-4212	18	11	intraday	intraday	NOUN
dem-4212	18	12	seasonality	seasonality	NOUN
dem-4212	18	13	of	of	ADP
dem-4212	18	14	durations	duration	NOUN
dem-4212	18	15	,	,	PUNCT
dem-4212	18	16	with	with	ADP
dem-4212	18	17	durations	duration	NOUN
dem-4212	18	18	or	or	CCONJ
dem-4212	18	19	waiting	waiting	NOUN
dem-4212	18	20	times	time	NOUN
dem-4212	18	21	standing	stand	VERB
dem-4212	18	22	for	for	ADP
dem-4212	18	23	the	the	DET
dem-4212	18	24	time	time	NOUN
dem-4212	18	25	spans	span	NOUN
dem-4212	18	26	between	between	ADP
dem-4212	18	27	trade	trade	NOUN
dem-4212	18	28	events	event	NOUN
dem-4212	18	29	.	.	PUNCT
dem-4212	19	1	however	however	ADV
dem-4212	19	2	,	,	PUNCT
dem-4212	19	3	before	before	SCONJ
dem-4212	19	4	one	one	PRON
dem-4212	19	5	can	can	AUX
dem-4212	19	6	use	use	VERB
dem-4212	19	7	econometric	econometric	ADJ
dem-4212	19	8	models	model	NOUN
dem-4212	19	9	in	in	ADP
dem-4212	19	10	analyses	analysis	NOUN
dem-4212	19	11	of	of	ADP
dem-4212	19	12	ultra	ultra	ADJ
dem-4212	19	13	-	-	ADJ
dem-4212	19	14	high	high	ADJ
dem-4212	19	15	-	-	PUNCT
dem-4212	19	16	frequency	frequency	NOUN
dem-4212	19	17	time	time	NOUN
dem-4212	19	18	series	series	NOUN
dem-4212	19	19	,	,	PUNCT
dem-4212	19	20	it	it	PRON
dem-4212	19	21	is	be	AUX
dem-4212	19	22	essential	essential	ADJ
dem-4212	19	23	to	to	PART
dem-4212	19	24	eliminate	eliminate	VERB
dem-4212	19	25	intraday	intraday	NOUN
dem-4212	19	26	seasonality	seasonality	NOUN
dem-4212	19	27	,	,	PUNCT
dem-4212	19	28	which	which	PRON
dem-4212	19	29	strongly	strongly	ADV
dem-4212	19	30	manifests	manifest	VERB
dem-4212	19	31	itself	itself	PRON
dem-4212	19	32	in	in	ADP
dem-4212	19	33	the	the	DET
dem-4212	19	34	time	time	NOUN
dem-4212	19	35	series	series	NOUN
dem-4212	19	36	.	.	PUNCT
dem-4212	20	1	in	in	ADP
dem-4212	20	2	estimating	estimate	VERB
dem-4212	20	3	intraday	intraday	NOUN
dem-4212	20	4	seasonality	seasonality	NOUN
dem-4212	20	5	use	use	NOUN
dem-4212	20	6	is	be	AUX
dem-4212	20	7	mostly	mostly	ADV
dem-4212	20	8	made	make	VERB
dem-4212	20	9	of	of	ADP
dem-4212	20	10	selected	select	VERB
dem-4212	20	11	nonparametric	nonparametric	ADJ
dem-4212	20	12	statistical	statistical	ADJ
dem-4212	20	13	methods	method	NOUN
dem-4212	20	14	.	.	PUNCT
dem-4212	21	1	the	the	DET
dem-4212	21	2	aim	aim	NOUN
dem-4212	21	3	of	of	ADP
dem-4212	21	4	this	this	DET
dem-4212	21	5	paper	paper	NOUN
dem-4212	21	6	is	be	AUX
dem-4212	21	7	to	to	PART
dem-4212	21	8	outline	outline	VERB
dem-4212	21	9	the	the	DET
dem-4212	21	10	typical	typical	ADJ
dem-4212	21	11	characteristics	characteristic	NOUN
dem-4212	21	12	of	of	ADP
dem-4212	21	13	uhf	uhf	PROPN
dem-4212	21	14	financial	financial	ADJ
dem-4212	21	15	data	datum	NOUN
dem-4212	21	16	and	and	CCONJ
dem-4212	21	17	further	far	ADV
dem-4212	21	18	to	to	PART
dem-4212	21	19	present	present	VERB
dem-4212	21	20	modelling	modelling	NOUN
dem-4212	21	21	and	and	CCONJ
dem-4212	21	22	estimation	estimation	NOUN
dem-4212	21	23	methods	method	NOUN
dem-4212	21	24	of	of	ADP
dem-4212	21	25	intraday	intraday	NOUN
dem-4212	21	26	seasonality	seasonality	NOUN
dem-4212	21	27	of	of	ADP
dem-4212	21	28	transaction	transaction	NOUN
dem-4212	21	29	activities	activity	NOUN
dem-4212	21	30	.	.	PUNCT
dem-4212	22	1	within	within	ADP
dem-4212	22	2	the	the	DET
dem-4212	22	3	framework	framework	NOUN
dem-4212	22	4	of	of	ADP
dem-4212	22	5	these	these	DET
dem-4212	22	6	methods	method	NOUN
dem-4212	22	7	,	,	PUNCT
dem-4212	22	8	two	two	NUM
dem-4212	22	9	nonparametric	nonparametric	NOUN
dem-4212	22	10	approaches	approach	NOUN
dem-4212	22	11	will	will	AUX
dem-4212	22	12	be	be	AUX
dem-4212	22	13	presented	present	VERB
dem-4212	22	14	:	:	PUNCT
dem-4212	22	15	cubic	cubic	ADJ
dem-4212	22	16	splines	spline	NOUN
dem-4212	22	17	interpolation	interpolation	NOUN
dem-4212	22	18	and	and	CCONJ
dem-4212	22	19	kernel	kernel	PROPN
dem-4212	22	20	estimations	estimation	NOUN
dem-4212	22	21	of	of	ADP
dem-4212	22	22	regression	regression	NOUN
dem-4212	22	23	functions	function	NOUN
dem-4212	22	24	.	.	PUNCT
dem-4212	23	1	both	both	DET
dem-4212	23	2	approaches	approach	NOUN
dem-4212	23	3	will	will	AUX
dem-4212	23	4	be	be	AUX
dem-4212	23	5	verified	verify	VERB
dem-4212	23	6	and	and	CCONJ
dem-4212	23	7	compared	compare	VERB
dem-4212	23	8	empirically	empirically	ADV
dem-4212	23	9	on	on	ADP
dem-4212	23	10	the	the	DET
dem-4212	23	11	basis	basis	NOUN
dem-4212	23	12	of	of	ADP
dem-4212	23	13	data	datum	NOUN
dem-4212	23	14	extracted	extract	VERB
dem-4212	23	15	from	from	ADP
dem-4212	23	16	the	the	DET
dem-4212	23	17	polish	polish	ADJ
dem-4212	23	18	share	share	NOUN
dem-4212	23	19	market	market	NOUN
dem-4212	23	20	.	.	PUNCT
dem-4212	24	1	2	2	X
dem-4212	24	2	.	.	X
dem-4212	24	3	characteristics	characteristic	NOUN
dem-4212	24	4	of	of	ADP
dem-4212	24	5	uhf	uhf	PROPN
dem-4212	24	6	financial	financial	ADJ
dem-4212	24	7	data	datum	NOUN
dem-4212	24	8	several	several	ADJ
dem-4212	24	9	years	year	NOUN
dem-4212	24	10	ago	ago	ADV
dem-4212	24	11	a	a	DET
dem-4212	24	12	new	new	ADJ
dem-4212	24	13	term	term	NOUN
dem-4212	24	14	became	become	VERB
dem-4212	24	15	operative	operative	ADJ
dem-4212	24	16	–	–	PUNCT
dem-4212	24	17	„	„	PUNCT
dem-4212	24	18	ultra	ultra	ADJ
dem-4212	24	19	-	-	ADJ
dem-4212	24	20	high	high	ADJ
dem-4212	24	21	frequency	frequency	NOUN
dem-4212	24	22	data	datum	NOUN
dem-4212	24	23	”	"	PUNCT
dem-4212	24	24	,	,	PUNCT
dem-4212	24	25	also	also	ADV
dem-4212	24	26	known	know	VERB
dem-4212	24	27	as	as	ADP
dem-4212	24	28	„	„	PUNCT
dem-4212	24	29	tick	tick	NOUN
dem-4212	24	30	-	-	PUNCT
dem-4212	24	31	by	by	ADP
dem-4212	24	32	-	-	PUNCT
dem-4212	24	33	tick	tick	NOUN
dem-4212	24	34	data	datum	NOUN
dem-4212	24	35	”	"	PUNCT
dem-4212	24	36	or	or	CCONJ
dem-4212	24	37	„	„	PUNCT
dem-4212	24	38	transaction	transaction	NOUN
dem-4212	24	39	data	datum	NOUN
dem-4212	24	40	”	"	PUNCT
dem-4212	24	41	.	.	PUNCT
dem-4212	25	1	these	these	PRON
dem-4212	25	2	are	be	AUX
dem-4212	25	3	time	time	NOUN
dem-4212	25	4	series	series	NOUN
dem-4212	25	5	composed	compose	VERB
dem-4212	25	6	of	of	ADP
dem-4212	25	7	trade	trade	NOUN
dem-4212	25	8	event	event	NOUN
dem-4212	25	9	features	feature	VERB
dem-4212	25	10	to	to	PART
dem-4212	25	11	which	which	PRON
dem-4212	25	12	the	the	DET
dem-4212	25	13	exact	exact	ADJ
dem-4212	25	14	time	time	NOUN
dem-4212	25	15	of	of	ADP
dem-4212	25	16	their	their	PRON
dem-4212	25	17	appearance	appearance	NOUN
dem-4212	25	18	was	be	AUX
dem-4212	25	19	assigned	assign	VERB
dem-4212	25	20	.	.	PUNCT
dem-4212	26	1	thus	thus	ADV
dem-4212	26	2	observations	observation	NOUN
dem-4212	26	3	are	be	AUX
dem-4212	26	4	recorded	record	VERB
dem-4212	26	5	asynchronously	asynchronously	ADV
dem-4212	26	6	on	on	ADP
dem-4212	26	7	time	time	NOUN
dem-4212	26	8	units	unit	NOUN
dem-4212	26	9	.	.	PUNCT
dem-4212	27	1	uhf	uhf	PROPN
dem-4212	27	2	financial	financial	PROPN
dem-4212	27	3	data	datum	NOUN
dem-4212	27	4	have	have	VERB
dem-4212	27	5	a	a	DET
dem-4212	27	6	few	few	ADJ
dem-4212	27	7	characteristic	characteristic	ADJ
dem-4212	27	8	qualities	quality	NOUN
dem-4212	27	9	,	,	PUNCT
dem-4212	27	10	which	which	PRON
dem-4212	27	11	do	do	AUX
dem-4212	27	12	not	not	PART
dem-4212	27	13	manifest	manifest	VERB
dem-4212	27	14	themselves	themselves	PRON
dem-4212	27	15	at	at	ADP
dem-4212	27	16	lower	low	ADJ
dem-4212	27	17	frequencies	frequency	NOUN
dem-4212	27	18	.	.	PUNCT
dem-4212	28	1	the	the	DET
dem-4212	28	2	characteristic	characteristic	ADJ
dem-4212	28	3	features	feature	NOUN
dem-4212	28	4	of	of	ADP
dem-4212	28	5	time	time	NOUN
dem-4212	28	6	series	series	NOUN
dem-4212	28	7	of	of	ADP
dem-4212	28	8	transaction	transaction	NOUN
dem-4212	28	9	data	datum	NOUN
dem-4212	28	10	include	include	VERB
dem-4212	28	11	:	:	PUNCT
dem-4212	28	12	nonsynchronous	nonsynchronous	ADJ
dem-4212	28	13	distribution	distribution	NOUN
dem-4212	28	14	of	of	ADP
dem-4212	28	15	observations	observation	NOUN
dem-4212	28	16	over	over	ADP
dem-4212	28	17	time	time	NOUN
dem-4212	28	18	units	unit	NOUN
dem-4212	28	19	,	,	PUNCT
dem-4212	28	20	discrete	discrete	ADJ
dem-4212	28	21	transaction	transaction	NOUN
dem-4212	28	22	price	price	NOUN
dem-4212	28	23	changes	change	NOUN
dem-4212	28	24	,	,	PUNCT
dem-4212	28	25	appearance	appearance	NOUN
dem-4212	28	26	of	of	ADP
dem-4212	28	27	a	a	DET
dem-4212	28	28	number	number	NOUN
dem-4212	28	29	of	of	ADP
dem-4212	28	30	transactions	transaction	NOUN
dem-4212	28	31	in	in	ADP
dem-4212	28	32	the	the	DET
dem-4212	28	33	same	same	ADJ
dem-4212	28	34	single	single	ADJ
dem-4212	28	35	second	second	NOUN
dem-4212	28	36	,	,	PUNCT
dem-4212	28	37	bid	bid	NOUN
dem-4212	28	38	-	-	PUNCT
dem-4212	28	39	ask	ask	NOUN
dem-4212	28	40	bounce	bounce	NOUN
dem-4212	28	41	of	of	ADP
dem-4212	28	42	transaction	transaction	NOUN
dem-4212	28	43	prices	price	NOUN
dem-4212	28	44	and	and	CCONJ
dem-4212	28	45	intraday	intraday	NOUN
dem-4212	28	46	seasonality	seasonality	NOUN
dem-4212	28	47	i.e.	i.e.	X
dem-4212	28	48	transactions	transaction	NOUN
dem-4212	28	49	reveal	reveal	VERB
dem-4212	28	50	a	a	DET
dem-4212	28	51	daily	daily	ADJ
dem-4212	28	52	periodic	periodic	ADJ
dem-4212	28	53	pattern	pattern	NOUN
dem-4212	28	54	.	.	PUNCT
dem-4212	29	1	the	the	DET
dem-4212	29	2	most	most	ADV
dem-4212	29	3	important	important	ADJ
dem-4212	29	4	quality	quality	NOUN
dem-4212	29	5	of	of	ADP
dem-4212	29	6	uhf	uhf	PROPN
dem-4212	29	7	financial	financial	ADJ
dem-4212	29	8	data	datum	NOUN
dem-4212	29	9	is	be	AUX
dem-4212	29	10	the	the	DET
dem-4212	29	11	nonsynchronous	nonsynchronous	ADJ
dem-4212	29	12	i.e.	i.e.	X
dem-4212	29	13	erratic	erratic	ADJ
dem-4212	29	14	distribution	distribution	NOUN
dem-4212	29	15	of	of	ADP
dem-4212	29	16	observations	observation	NOUN
dem-4212	29	17	over	over	ADP
dem-4212	29	18	time	time	NOUN
dem-4212	29	19	units	unit	NOUN
dem-4212	29	20	.	.	PUNCT
dem-4212	30	1	those	those	DET
dem-4212	30	2	data	datum	NOUN
dem-4212	30	3	can	can	AUX
dem-4212	30	4	,	,	PUNCT
dem-4212	30	5	for	for	ADP
dem-4212	30	6	instance	instance	NOUN
dem-4212	30	7	,	,	PUNCT
dem-4212	30	8	be	be	AUX
dem-4212	30	9	aggregated	aggregate	VERB
dem-4212	30	10	so	so	SCONJ
dem-4212	30	11	that	that	SCONJ
dem-4212	30	12	they	they	PRON
dem-4212	30	13	correspond	correspond	VERB
dem-4212	30	14	to	to	PART
dem-4212	30	15	equal	equal	VERB
dem-4212	30	16	sequential	sequential	ADJ
dem-4212	30	17	time	time	NOUN
dem-4212	30	18	units	unit	NOUN
dem-4212	30	19	(	(	PUNCT
dem-4212	30	20	multiples	multiple	NOUN
dem-4212	30	21	of	of	ADP
dem-4212	30	22	minutes	minute	NOUN
dem-4212	30	23	,	,	PUNCT
dem-4212	30	24	hours	hour	NOUN
dem-4212	30	25	,	,	PUNCT
dem-4212	30	26	days	day	NOUN
dem-4212	30	27	)	)	PUNCT
dem-4212	30	28	and	and	CCONJ
dem-4212	30	29	then	then	ADV
dem-4212	30	30	–	–	PUNCT
dem-4212	30	31	in	in	ADP
dem-4212	30	32	analyses	analysis	NOUN
dem-4212	30	33	–	–	PUNCT
dem-4212	30	34	enable	enable	ADJ
dem-4212	30	35	use	use	NOUN
dem-4212	30	36	of	of	ADP
dem-4212	30	37	a	a	DET
dem-4212	30	38	whole	whole	ADJ
dem-4212	30	39	range	range	NOUN
dem-4212	30	40	of	of	ADP
dem-4212	30	41	the	the	DET
dem-4212	30	42	garch	garch	NOUN
dem-4212	30	43	models	model	NOUN
dem-4212	30	44	.	.	PUNCT
dem-4212	31	1	on	on	ADP
dem-4212	31	2	the	the	DET
dem-4212	31	3	other	other	ADJ
dem-4212	31	4	hand	hand	NOUN
dem-4212	31	5	,	,	PUNCT
dem-4212	31	6	such	such	ADJ
dem-4212	31	7	aggregation	aggregation	NOUN
dem-4212	31	8	of	of	ADP
dem-4212	31	9	transaction	transaction	NOUN
dem-4212	31	10	data	datum	NOUN
dem-4212	31	11	and	and	CCONJ
dem-4212	31	12	their	their	PRON
dem-4212	31	13	analysis	analysis	NOUN
dem-4212	31	14	as	as	SCONJ
dem-4212	31	15	observations	observation	NOUN
dem-4212	31	16	made	make	VERB
dem-4212	31	17	and	and	CCONJ
dem-4212	31	18	selected	select	VERB
dem-4212	31	19	at	at	ADP
dem-4212	31	20	equal	equal	ADJ
dem-4212	31	21	intervals	interval	NOUN
dem-4212	31	22	leads	lead	VERB
dem-4212	31	23	to	to	ADP
dem-4212	31	24	a	a	DET
dem-4212	31	25	loss	loss	NOUN
dem-4212	31	26	of	of	ADP
dem-4212	31	27	information	information	NOUN
dem-4212	31	28	furnished	furnish	VERB
dem-4212	31	29	by	by	ADP
dem-4212	31	30	the	the	DET
dem-4212	31	31	transaction	transaction	NOUN
dem-4212	31	32	process	process	NOUN
dem-4212	31	33	itself	itself	PRON
dem-4212	31	34	.	.	PUNCT
dem-4212	32	1	transactions	transaction	NOUN
dem-4212	32	2	or	or	CCONJ
dem-4212	32	3	changes	change	NOUN
dem-4212	32	4	in	in	ADP
dem-4212	32	5	the	the	DET
dem-4212	32	6	share	share	NOUN
dem-4212	32	7	price	price	NOUN
dem-4212	32	8	do	do	AUX
dem-4212	32	9	not	not	PART
dem-4212	32	10	happen	happen	VERB
dem-4212	32	11	at	at	ADP
dem-4212	32	12	equal	equal	ADJ
dem-4212	32	13	intervals	interval	NOUN
dem-4212	32	14	.	.	PUNCT
dem-4212	33	1	consequently	consequently	ADV
dem-4212	33	2	,	,	PUNCT
dem-4212	33	3	the	the	DET
dem-4212	33	4	durations	duration	NOUN
dem-4212	33	5	between	between	ADP
dem-4212	33	6	transactions	transaction	NOUN
dem-4212	33	7	involving	involve	VERB
dem-4212	33	8	shares	share	NOUN
dem-4212	33	9	of	of	ADP
dem-4212	33	10	a	a	DET
dem-4212	33	11	given	give	VERB
dem-4212	33	12	company	company	NOUN
dem-4212	33	13	may	may	AUX
dem-4212	33	14	provide	provide	VERB
dem-4212	33	15	relevant	relevant	ADJ
dem-4212	33	16	information	information	NOUN
dem-4212	33	17	as	as	ADP
dem-4212	33	18	to	to	ADP
dem-4212	33	19	the	the	DET
dem-4212	33	20	intensity	intensity	NOUN
dem-4212	33	21	of	of	ADP
dem-4212	33	22	their	their	PRON
dem-4212	33	23	trading	trading	NOUN
dem-4212	33	24	.	.	PUNCT
dem-4212	34	1	thus	thus	ADV
dem-4212	34	2	the	the	DET
dem-4212	34	3	assumption	assumption	NOUN
dem-4212	34	4	that	that	SCONJ
dem-4212	34	5	changes	change	VERB
dem-4212	34	6	in	in	ADP
dem-4212	34	7	prices	price	NOUN
dem-4212	34	8	or	or	CCONJ
dem-4212	34	9	transactions	transaction	NOUN
dem-4212	34	10	are	be	AUX
dem-4212	34	11	equidistant	equidistant	ADJ
dem-4212	34	12	in	in	ADP
dem-4212	34	13	terms	term	NOUN
dem-4212	34	14	of	of	ADP
dem-4212	34	15	time	time	NOUN
dem-4212	34	16	may	may	AUX
dem-4212	34	17	intraday	intraday	NOUN
dem-4212	34	18	seasonality	seasonality	NOUN
dem-4212	34	19	in	in	ADP
dem-4212	34	20	analysis	analysis	NOUN
dem-4212	34	21	of	of	ADP
dem-4212	34	22	uhf	uhf	PROPN
dem-4212	34	23	financial	financial	ADJ
dem-4212	34	24	data	datum	NOUN
dem-4212	34	25	:	:	PUNCT
dem-4212	34	26	models	model	NOUN
dem-4212	34	27	…	…	PUNCT
dem-4212	34	28	131	131	NUM
dem-4212	34	29	cause	cause	VERB
dem-4212	34	30	us	we	PRON
dem-4212	34	31	to	to	PART
dem-4212	34	32	draw	draw	VERB
dem-4212	34	33	false	false	ADJ
dem-4212	34	34	conclusions	conclusion	NOUN
dem-4212	34	35	.	.	PUNCT
dem-4212	35	1	the	the	DET
dem-4212	35	2	problem	problem	NOUN
dem-4212	35	3	of	of	ADP
dem-4212	35	4	nonsynchronous	nonsynchronous	ADJ
dem-4212	35	5	trading	trading	NOUN
dem-4212	35	6	and	and	CCONJ
dem-4212	35	7	relevant	relevant	ADJ
dem-4212	35	8	examples	example	NOUN
dem-4212	35	9	are	be	AUX
dem-4212	35	10	dealt	deal	VERB
dem-4212	35	11	with	with	ADP
dem-4212	35	12	more	more	ADV
dem-4212	35	13	extensively	extensively	ADV
dem-4212	35	14	in	in	ADP
dem-4212	35	15	tsay	tsay	PROPN
dem-4212	35	16	(	(	PUNCT
dem-4212	35	17	2002	2002	NUM
dem-4212	35	18	,	,	PUNCT
dem-4212	35	19	p.	p.	NOUN
dem-4212	35	20	207	207	NUM
dem-4212	35	21	)	)	PUNCT
dem-4212	35	22	(	(	PUNCT
dem-4212	35	23	cf	cf	X
dem-4212	35	24	.	.	PUNCT
dem-4212	36	1	doman	doman	PROPN
dem-4212	36	2	,	,	PUNCT
dem-4212	36	3	doman	doman	PROPN
dem-4212	36	4	,	,	PUNCT
dem-4212	36	5	2004	2004	NUM
dem-4212	36	6	;	;	PUNCT
dem-4212	36	7	osińska	osińska	NOUN
dem-4212	36	8	,	,	PUNCT
dem-4212	36	9	2006	2006	NUM
dem-4212	36	10	)	)	PUNCT
dem-4212	36	11	.	.	PUNCT
dem-4212	37	1	an	an	DET
dem-4212	37	2	alternative	alternative	ADJ
dem-4212	37	3	way	way	NOUN
dem-4212	37	4	of	of	ADP
dem-4212	37	5	analysis	analysis	NOUN
dem-4212	37	6	of	of	ADP
dem-4212	37	7	financial	financial	ADJ
dem-4212	37	8	data	datum	NOUN
dem-4212	37	9	distributed	distribute	VERB
dem-4212	37	10	asynchronously	asynchronously	ADV
dem-4212	37	11	over	over	SCONJ
dem-4212	37	12	time	time	NOUN
dem-4212	37	13	units	unit	NOUN
dem-4212	37	14	involves	involve	VERB
dem-4212	37	15	using	use	VERB
dem-4212	37	16	the	the	DET
dem-4212	37	17	so	so	ADV
dem-4212	37	18	-	-	PUNCT
dem-4212	37	19	called	call	VERB
dem-4212	37	20	transaction	transaction	NOUN
dem-4212	37	21	-	-	PUNCT
dem-4212	37	22	time	time	NOUN
dem-4212	37	23	models	model	NOUN
dem-4212	37	24	(	(	PUNCT
dem-4212	37	25	acd	acd	NOUN
dem-4212	37	26	,	,	PUNCT
dem-4212	37	27	uhf	uhf	PROPN
dem-4212	37	28	-	-	PUNCT
dem-4212	37	29	garch	garch	NOUN
dem-4212	37	30	models	model	NOUN
dem-4212	37	31	etc	etc	X
dem-4212	37	32	)	)	PUNCT
dem-4212	37	33	.	.	PUNCT
dem-4212	38	1	with	with	ADP
dem-4212	38	2	those	those	DET
dem-4212	38	3	models	model	NOUN
dem-4212	38	4	,	,	PUNCT
dem-4212	38	5	raw	raw	ADJ
dem-4212	38	6	data	datum	NOUN
dem-4212	38	7	are	be	AUX
dem-4212	38	8	used	use	VERB
dem-4212	38	9	for	for	ADP
dem-4212	38	10	analysis	analysis	NOUN
dem-4212	38	11	.	.	PUNCT
dem-4212	39	1	owing	owe	VERB
dem-4212	39	2	to	to	ADP
dem-4212	39	3	that	that	PRON
dem-4212	39	4	,	,	PUNCT
dem-4212	39	5	information	information	NOUN
dem-4212	39	6	inherent	inherent	ADJ
dem-4212	39	7	in	in	ADP
dem-4212	39	8	the	the	DET
dem-4212	39	9	duration	duration	NOUN
dem-4212	39	10	of	of	ADP
dem-4212	39	11	the	the	DET
dem-4212	39	12	time	time	NOUN
dem-4212	39	13	between	between	ADP
dem-4212	39	14	selected	select	VERB
dem-4212	39	15	trade	trade	NOUN
dem-4212	39	16	events	event	NOUN
dem-4212	39	17	can	can	AUX
dem-4212	39	18	also	also	ADV
dem-4212	39	19	come	come	VERB
dem-4212	39	20	into	into	ADP
dem-4212	39	21	focus	focus	NOUN
dem-4212	39	22	.	.	PUNCT
dem-4212	40	1	duration	duration	NOUN
dem-4212	40	2	analyses	analysis	NOUN
dem-4212	40	3	may	may	AUX
dem-4212	40	4	furnish	furnish	VERB
dem-4212	40	5	information	information	NOUN
dem-4212	40	6	on	on	ADP
dem-4212	40	7	the	the	DET
dem-4212	40	8	microstructure	microstructure	NOUN
dem-4212	40	9	of	of	ADP
dem-4212	40	10	the	the	DET
dem-4212	40	11	financial	financial	ADJ
dem-4212	40	12	market	market	NOUN
dem-4212	40	13	,	,	PUNCT
dem-4212	40	14	affording	afford	VERB
dem-4212	40	15	a	a	DET
dem-4212	40	16	more	more	ADV
dem-4212	40	17	accurate	accurate	ADJ
dem-4212	40	18	insight	insight	NOUN
dem-4212	40	19	into	into	ADP
dem-4212	40	20	various	various	ADJ
dem-4212	40	21	market	market	NOUN
dem-4212	40	22	interdependencies	interdependency	NOUN
dem-4212	40	23	.	.	PUNCT
dem-4212	41	1	in	in	ADP
dem-4212	41	2	pertinent	pertinent	ADJ
dem-4212	41	3	literature	literature	NOUN
dem-4212	41	4	,	,	PUNCT
dem-4212	41	5	the	the	DET
dem-4212	41	6	most	most	ADV
dem-4212	41	7	frequently	frequently	ADV
dem-4212	41	8	modelled	model	VERB
dem-4212	41	9	durations	duration	NOUN
dem-4212	41	10	between	between	ADP
dem-4212	41	11	trade	trade	NOUN
dem-4212	41	12	events	event	NOUN
dem-4212	41	13	are	be	AUX
dem-4212	41	14	trade	trade	NOUN
dem-4212	41	15	durations	duration	NOUN
dem-4212	41	16	,	,	PUNCT
dem-4212	41	17	price	price	NOUN
dem-4212	41	18	durations	duration	NOUN
dem-4212	41	19	,	,	PUNCT
dem-4212	41	20	volume	volume	NOUN
dem-4212	41	21	durations	duration	NOUN
dem-4212	41	22	(	(	PUNCT
dem-4212	41	23	cf	cf	NOUN
dem-4212	41	24	.	.	PUNCT
dem-4212	41	25	engle	engle	PROPN
dem-4212	41	26	,	,	PUNCT
dem-4212	41	27	russell	russell	PROPN
dem-4212	41	28	,	,	PUNCT
dem-4212	41	29	1997	1997	NUM
dem-4212	41	30	,	,	PUNCT
dem-4212	41	31	p.	p.	NOUN
dem-4212	41	32	1149	1149	NUM
dem-4212	41	33	)	)	PUNCT
dem-4212	41	34	.	.	PUNCT
dem-4212	42	1	3	3	X
dem-4212	42	2	.	.	NOUN
dem-4212	42	3	intraday	intraday	NOUN
dem-4212	42	4	seasonality	seasonality	NOUN
dem-4212	42	5	of	of	ADP
dem-4212	42	6	durations	duration	NOUN
dem-4212	42	7	under	under	ADP
dem-4212	42	8	normal	normal	ADJ
dem-4212	42	9	economic	economic	ADJ
dem-4212	42	10	conditions	condition	NOUN
dem-4212	42	11	,	,	PUNCT
dem-4212	42	12	transactions	transaction	NOUN
dem-4212	42	13	reveal	reveal	VERB
dem-4212	42	14	a	a	DET
dem-4212	42	15	daily	daily	ADJ
dem-4212	42	16	seasonality	seasonality	NOUN
dem-4212	42	17	factor	factor	NOUN
dem-4212	42	18	.	.	PUNCT
dem-4212	43	1	it	it	PRON
dem-4212	43	2	appears	appear	VERB
dem-4212	43	3	that	that	SCONJ
dem-4212	43	4	the	the	DET
dem-4212	43	5	number	number	NOUN
dem-4212	43	6	of	of	ADP
dem-4212	43	7	transactions	transaction	NOUN
dem-4212	43	8	is	be	AUX
dem-4212	43	9	higher	high	ADJ
dem-4212	43	10	immediately	immediately	ADV
dem-4212	43	11	after	after	ADP
dem-4212	43	12	the	the	DET
dem-4212	43	13	opening	opening	NOUN
dem-4212	43	14	of	of	ADP
dem-4212	43	15	business	business	NOUN
dem-4212	43	16	than	than	ADP
dem-4212	43	17	prior	prior	ADV
dem-4212	43	18	to	to	ADP
dem-4212	43	19	the	the	DET
dem-4212	43	20	close	close	NOUN
dem-4212	43	21	of	of	ADP
dem-4212	43	22	the	the	DET
dem-4212	43	23	session	session	NOUN
dem-4212	43	24	(	(	PUNCT
dem-4212	43	25	when	when	SCONJ
dem-4212	43	26	the	the	DET
dem-4212	43	27	time	time	NOUN
dem-4212	43	28	gaps	gap	VERB
dem-4212	43	29	between	between	ADP
dem-4212	43	30	transactions	transaction	NOUN
dem-4212	43	31	are	be	AUX
dem-4212	43	32	the	the	DET
dem-4212	43	33	shortest	short	ADJ
dem-4212	43	34	)	)	PUNCT
dem-4212	43	35	,	,	PUNCT
dem-4212	43	36	and	and	CCONJ
dem-4212	43	37	markedly	markedly	ADV
dem-4212	43	38	smaller	small	ADJ
dem-4212	43	39	during	during	ADP
dem-4212	43	40	midday	midday	NOUN
dem-4212	43	41	hours	hour	NOUN
dem-4212	43	42	,	,	PUNCT
dem-4212	43	43	i.e.	i.e.	X
dem-4212	43	44	in	in	ADP
dem-4212	43	45	the	the	DET
dem-4212	43	46	middle	middle	NOUN
dem-4212	43	47	of	of	ADP
dem-4212	43	48	the	the	DET
dem-4212	43	49	session	session	NOUN
dem-4212	43	50	(	(	PUNCT
dem-4212	43	51	socalled	socalle	VERB
dem-4212	43	52	“	"	PUNCT
dem-4212	43	53	lunchtime	lunchtime	ADJ
dem-4212	43	54	effect	effect	NOUN
dem-4212	43	55	”	"	PUNCT
dem-4212	43	56	when	when	SCONJ
dem-4212	43	57	durations	duration	NOUN
dem-4212	43	58	between	between	ADP
dem-4212	43	59	transactions	transaction	NOUN
dem-4212	43	60	are	be	AUX
dem-4212	43	61	also	also	ADV
dem-4212	43	62	the	the	DET
dem-4212	43	63	longest	long	ADJ
dem-4212	43	64	)	)	PUNCT
dem-4212	43	65	.	.	PUNCT
dem-4212	44	1	thus	thus	ADV
dem-4212	44	2	,	,	PUNCT
dem-4212	44	3	there	there	PRON
dem-4212	44	4	exists	exist	VERB
dem-4212	44	5	a	a	DET
dem-4212	44	6	certain	certain	ADJ
dem-4212	44	7	repetitious	repetitious	ADJ
dem-4212	44	8	pattern	pattern	NOUN
dem-4212	44	9	of	of	ADP
dem-4212	44	10	transaction	transaction	NOUN
dem-4212	44	11	intensity	intensity	NOUN
dem-4212	44	12	for	for	ADP
dem-4212	44	13	each	each	DET
dem-4212	44	14	day	day	NOUN
dem-4212	44	15	.	.	PUNCT
dem-4212	45	1	this	this	PRON
dem-4212	45	2	is	be	AUX
dem-4212	45	3	termed	term	VERB
dem-4212	45	4	„	„	PUNCT
dem-4212	45	5	intraday	intraday	NOUN
dem-4212	45	6	seasonality	seasonality	NOUN
dem-4212	45	7	of	of	ADP
dem-4212	45	8	durations	duration	NOUN
dem-4212	45	9	”	"	PUNCT
dem-4212	45	10	.	.	PUNCT
dem-4212	46	1	consequently	consequently	ADV
dem-4212	46	2	,	,	PUNCT
dem-4212	46	3	engle	engle	PROPN
dem-4212	46	4	and	and	CCONJ
dem-4212	46	5	russell	russell	PROPN
dem-4212	46	6	(	(	PUNCT
dem-4212	46	7	1997	1997	NUM
dem-4212	46	8	)	)	PUNCT
dem-4212	46	9	recommend	recommend	VERB
dem-4212	46	10	decomposition	decomposition	NOUN
dem-4212	46	11	of	of	ADP
dem-4212	46	12	duration	duration	NOUN
dem-4212	46	13	into	into	ADP
dem-4212	46	14	a	a	DET
dem-4212	46	15	deterministic	deterministic	ADJ
dem-4212	46	16	component	component	NOUN
dem-4212	46	17	)	)	PUNCT
dem-4212	46	18	(	(	PUNCT
dem-4212	46	19	itφ	itφ	ADV
dem-4212	46	20	depending	depend	VERB
dem-4212	46	21	on	on	ADP
dem-4212	46	22	moment	moment	NOUN
dem-4212	46	23	it	it	PRON
dem-4212	46	24	of	of	ADP
dem-4212	46	25	the	the	DET
dem-4212	46	26	commencement	commencement	NOUN
dem-4212	46	27	of	of	ADP
dem-4212	46	28	a	a	DET
dem-4212	46	29	given	give	VERB
dem-4212	46	30	duration	duration	NOUN
dem-4212	46	31	,	,	PUNCT
dem-4212	46	32	and	and	CCONJ
dem-4212	46	33	a	a	DET
dem-4212	46	34	stochastic	stochastic	ADJ
dem-4212	46	35	component	component	NOUN
dem-4212	46	36	ix̂	ix̂	PROPN
dem-4212	46	37	,	,	PUNCT
dem-4212	46	38	which	which	PRON
dem-4212	46	39	is	be	AUX
dem-4212	46	40	free	free	ADJ
dem-4212	46	41	from	from	ADP
dem-4212	46	42	the	the	DET
dem-4212	46	43	seasonality	seasonality	NOUN
dem-4212	46	44	effect	effect	NOUN
dem-4212	46	45	and	and	CCONJ
dem-4212	46	46	which	which	PRON
dem-4212	46	47	models	model	VERB
dem-4212	46	48	process	process	NOUN
dem-4212	46	49	dynamics	dynamic	NOUN
dem-4212	46	50	.	.	PUNCT
dem-4212	47	1	pertinent	pertinent	ADJ
dem-4212	47	2	literature	literature	NOUN
dem-4212	47	3	(	(	PUNCT
dem-4212	47	4	cf	cf	NOUN
dem-4212	47	5	.	.	PUNCT
dem-4212	47	6	engle	engle	PROPN
dem-4212	47	7	,	,	PUNCT
dem-4212	47	8	russell	russell	PROPN
dem-4212	47	9	,	,	PUNCT
dem-4212	47	10	1997	1997	NUM
dem-4212	47	11	)	)	PUNCT
dem-4212	47	12	recommends	recommend	VERB
dem-4212	47	13	that	that	SCONJ
dem-4212	47	14	data	datum	NOUN
dem-4212	47	15	be	be	AUX
dem-4212	47	16	transformed	transform	VERB
dem-4212	47	17	as	as	SCONJ
dem-4212	47	18	follows	follow	VERB
dem-4212	47	19	:	:	PUNCT
dem-4212	47	20	,	,	PUNCT
dem-4212	47	21	)	)	PUNCT
dem-4212	47	22	(	(	PUNCT
dem-4212	48	1	i	i	PRON
dem-4212	48	2	i	i	PRON
dem-4212	49	1	i	i	PRON
dem-4212	49	2	t	t	VERB
dem-4212	49	3	xx	xx	NUM
dem-4212	50	1	φ	φ	NOUN
dem-4212	50	2	=)	=)	PROPN
dem-4212	50	3	(	(	PUNCT
dem-4212	50	4	1	1	NUM
dem-4212	50	5	)	)	PUNCT
dem-4212	50	6	where	where	SCONJ
dem-4212	50	7	:	:	PUNCT
dem-4212	50	8	1−−=	1−−=	PROPN
dem-4212	50	9	iii	iii	PROPN
dem-4212	50	10	ttx	ttx	PROPN
dem-4212	50	11	duration	duration	NOUN
dem-4212	50	12	between	between	ADP
dem-4212	50	13	transactions	transaction	NOUN
dem-4212	50	14	at	at	ADP
dem-4212	50	15	time	time	NOUN
dem-4212	50	16	it	it	PRON
dem-4212	50	17	and	and	CCONJ
dem-4212	50	18	1−it	1−it	NUM
dem-4212	50	19	,	,	PUNCT
dem-4212	50	20	ix̂	ix̂	NUM
dem-4212	50	21	duration	duration	NOUN
dem-4212	50	22	purged	purge	VERB
dem-4212	50	23	of	of	ADP
dem-4212	50	24	the	the	DET
dem-4212	50	25	seasonality	seasonality	NOUN
dem-4212	50	26	effect	effect	NOUN
dem-4212	50	27	,	,	PUNCT
dem-4212	50	28	)	)	PUNCT
dem-4212	50	29	(	(	PUNCT
dem-4212	50	30	itφ	itφ	ADV
dem-4212	50	31	multiplied	multiply	VERB
dem-4212	50	32	factor	factor	NOUN
dem-4212	50	33	of	of	ADP
dem-4212	50	34	intraday	intraday	PROPN
dem-4212	50	35	seasonality	seasonality	NOUN
dem-4212	50	36	at	at	ADP
dem-4212	50	37	time	time	NOUN
dem-4212	50	38	it	it	PRON
dem-4212	50	39	.	.	PUNCT
dem-4212	51	1	the	the	DET
dem-4212	51	2	seasonal	seasonal	ADJ
dem-4212	51	3	factor	factor	NOUN
dem-4212	51	4	)	)	PUNCT
dem-4212	51	5	(	(	PUNCT
dem-4212	51	6	itφ	itφ	PROPN
dem-4212	51	7	is	be	AUX
dem-4212	51	8	construed	construe	VERB
dem-4212	51	9	as	as	ADP
dem-4212	51	10	the	the	DET
dem-4212	51	11	average	average	ADJ
dem-4212	51	12	duration	duration	NOUN
dem-4212	51	13	of	of	ADP
dem-4212	51	14	each	each	DET
dem-4212	51	15	time	time	NOUN
dem-4212	51	16	unit	unit	NOUN
dem-4212	51	17	during	during	ADP
dem-4212	51	18	which	which	PRON
dem-4212	51	19	we	we	PRON
dem-4212	51	20	made	make	VERB
dem-4212	51	21	data	datum	NOUN
dem-4212	51	22	observations	observation	NOUN
dem-4212	51	23	(	(	PUNCT
dem-4212	51	24	most	most	ADV
dem-4212	51	25	often	often	ADV
dem-4212	51	26	denoting	denote	VERB
dem-4212	51	27	the	the	DET
dem-4212	51	28	average	average	ADJ
dem-4212	51	29	duration	duration	NOUN
dem-4212	51	30	for	for	ADP
dem-4212	51	31	each	each	DET
dem-4212	51	32	second	second	NOUN
dem-4212	51	33	)	)	PUNCT
dem-4212	51	34	.	.	PUNCT
dem-4212	52	1	the	the	DET
dem-4212	52	2	diagram	diagram	NOUN
dem-4212	52	3	which	which	PRON
dem-4212	52	4	illustrates	illustrate	VERB
dem-4212	52	5	intraday	intraday	NOUN
dem-4212	52	6	seasonality	seasonality	NOUN
dem-4212	52	7	pattern	pattern	NOUN
dem-4212	52	8	,	,	PUNCT
dem-4212	52	9	also	also	ADV
dem-4212	52	10	known	know	VERB
dem-4212	52	11	as	as	ADP
dem-4212	52	12	diurnal	diurnal	ADJ
dem-4212	52	13	pattern	pattern	NOUN
dem-4212	52	14	or	or	CCONJ
dem-4212	52	15	time	time	NOUN
dem-4212	52	16	-	-	PUNCT
dem-4212	52	17	of	of	ADP
dem-4212	52	18	-	-	PUNCT
dem-4212	52	19	day	day	NOUN
dem-4212	52	20	function	function	NOUN
dem-4212	52	21	mostly	mostly	ADV
dem-4212	52	22	has	have	VERB
dem-4212	52	23	the	the	DET
dem-4212	52	24	shape	shape	NOUN
dem-4212	52	25	of	of	ADP
dem-4212	52	26	the	the	DET
dem-4212	52	27	letter	letter	NOUN
dem-4212	52	28	u	u	NOUN
dem-4212	52	29	turned	turn	VERB
dem-4212	52	30	upside	upside	ADV
dem-4212	52	31	down	down	ADV
dem-4212	52	32	.	.	PUNCT
dem-4212	53	1	in	in	ADP
dem-4212	53	2	numerous	numerous	ADJ
dem-4212	53	3	situations	situation	NOUN
dem-4212	53	4	researchers	researcher	NOUN
dem-4212	53	5	lack	lack	VERB
dem-4212	53	6	adequate	adequate	ADJ
dem-4212	53	7	information	information	NOUN
dem-4212	53	8	to	to	PART
dem-4212	53	9	fully	fully	ADV
dem-4212	53	10	specify	specify	VERB
dem-4212	53	11	a	a	DET
dem-4212	53	12	parametric	parametric	ADJ
dem-4212	53	13	function	function	NOUN
dem-4212	53	14	of	of	ADP
dem-4212	53	15	intraday	intraday	PROPN
dem-4212	53	16	seasonality	seasonality	NOUN
dem-4212	53	17	.	.	PUNCT
dem-4212	54	1	despite	despite	SCONJ
dem-4212	54	2	the	the	DET
dem-4212	54	3	fact	fact	NOUN
dem-4212	54	4	that	that	SCONJ
dem-4212	54	5	intraday	intraday	PROPN
dem-4212	54	6	roman	roman	ADJ
dem-4212	54	7	huptas	hupta	NOUN
dem-4212	54	8	132	132	NUM
dem-4212	54	9	cyclicality	cyclicality	NOUN
dem-4212	54	10	is	be	AUX
dem-4212	54	11	not	not	PART
dem-4212	54	12	the	the	DET
dem-4212	54	13	key	key	ADJ
dem-4212	54	14	issue	issue	NOUN
dem-4212	54	15	of	of	ADP
dem-4212	54	16	investigation	investigation	NOUN
dem-4212	54	17	,	,	PUNCT
dem-4212	54	18	it	it	PRON
dem-4212	54	19	still	still	ADV
dem-4212	54	20	can	can	AUX
dem-4212	54	21	not	not	PART
dem-4212	54	22	be	be	AUX
dem-4212	54	23	ignored	ignore	VERB
dem-4212	54	24	,	,	PUNCT
dem-4212	54	25	but	but	CCONJ
dem-4212	54	26	much	much	ADJ
dem-4212	54	27	rather	rather	ADV
dem-4212	54	28	needs	need	VERB
dem-4212	54	29	to	to	PART
dem-4212	54	30	be	be	AUX
dem-4212	54	31	included	include	VERB
dem-4212	54	32	in	in	ADP
dem-4212	54	33	analyses	analysis	NOUN
dem-4212	54	34	.	.	PUNCT
dem-4212	55	1	thus	thus	ADV
dem-4212	55	2	,	,	PUNCT
dem-4212	55	3	in	in	ADP
dem-4212	55	4	order	order	NOUN
dem-4212	55	5	to	to	PART
dem-4212	55	6	estimate	estimate	VERB
dem-4212	55	7	the	the	DET
dem-4212	55	8	time	time	NOUN
dem-4212	55	9	-	-	PUNCT
dem-4212	55	10	of	of	ADP
dem-4212	55	11	-	-	PUNCT
dem-4212	55	12	day	day	NOUN
dem-4212	55	13	function	function	NOUN
dem-4212	55	14	use	use	NOUN
dem-4212	55	15	can	can	AUX
dem-4212	55	16	be	be	AUX
dem-4212	55	17	made	make	VERB
dem-4212	55	18	of	of	ADP
dem-4212	55	19	selected	select	VERB
dem-4212	55	20	nonparametric	nonparametric	ADJ
dem-4212	55	21	statistical	statistical	ADJ
dem-4212	55	22	methods	method	NOUN
dem-4212	55	23	such	such	ADJ
dem-4212	55	24	as	as	ADP
dem-4212	55	25	splines	spline	NOUN
dem-4212	55	26	,	,	PUNCT
dem-4212	55	27	fourier	fourier	NOUN
dem-4212	55	28	series	series	NOUN
dem-4212	55	29	,	,	PUNCT
dem-4212	55	30	neural	neural	ADJ
dem-4212	55	31	networks	network	NOUN
dem-4212	55	32	,	,	PUNCT
dem-4212	55	33	wavelet	wavelet	NOUN
dem-4212	55	34	analyses	analysis	NOUN
dem-4212	55	35	or	or	CCONJ
dem-4212	55	36	kernel	kernel	NOUN
dem-4212	55	37	methods	method	NOUN
dem-4212	55	38	.	.	PUNCT
dem-4212	56	1	in	in	ADP
dem-4212	56	2	most	most	ADJ
dem-4212	56	3	works	work	NOUN
dem-4212	56	4	on	on	ADP
dem-4212	56	5	duration	duration	NOUN
dem-4212	56	6	modelling	modelling	NOUN
dem-4212	56	7	use	use	NOUN
dem-4212	56	8	is	be	AUX
dem-4212	56	9	made	make	VERB
dem-4212	56	10	of	of	ADP
dem-4212	56	11	cubic	cubic	ADJ
dem-4212	56	12	splines	spline	NOUN
dem-4212	56	13	or	or	CCONJ
dem-4212	56	14	kernel	kernel	NOUN
dem-4212	56	15	estimations	estimation	NOUN
dem-4212	56	16	.	.	PUNCT
dem-4212	57	1	in	in	ADP
dem-4212	57	2	pertinent	pertinent	ADJ
dem-4212	57	3	literature	literature	NOUN
dem-4212	57	4	the	the	DET
dem-4212	57	5	time	time	NOUN
dem-4212	57	6	-	-	PUNCT
dem-4212	57	7	of	of	ADP
dem-4212	57	8	the	the	DET
dem-4212	57	9	day	day	NOUN
dem-4212	57	10	function	function	NOUN
dem-4212	57	11	is	be	AUX
dem-4212	57	12	determined	determine	VERB
dem-4212	57	13	most	most	ADV
dem-4212	57	14	commonly	commonly	ADV
dem-4212	57	15	by	by	ADP
dem-4212	57	16	means	mean	NOUN
dem-4212	57	17	of	of	ADP
dem-4212	57	18	splines	spline	NOUN
dem-4212	57	19	.	.	PUNCT
dem-4212	58	1	this	this	PRON
dem-4212	58	2	is	be	AUX
dem-4212	58	3	a	a	DET
dem-4212	58	4	method	method	NOUN
dem-4212	58	5	which	which	PRON
dem-4212	58	6	allows	allow	VERB
dem-4212	58	7	smoothing	smoothing	NOUN
dem-4212	58	8	of	of	ADP
dem-4212	58	9	average	average	ADJ
dem-4212	58	10	durations	duration	NOUN
dem-4212	58	11	between	between	ADP
dem-4212	58	12	events	event	NOUN
dem-4212	58	13	in	in	ADP
dem-4212	58	14	subsequent	subsequent	ADJ
dem-4212	58	15	time	time	NOUN
dem-4212	58	16	periods	period	NOUN
dem-4212	58	17	.	.	PUNCT
dem-4212	59	1	firstly	firstly	ADV
dem-4212	59	2	,	,	PUNCT
dem-4212	59	3	all	all	DET
dem-4212	59	4	durations	duration	NOUN
dem-4212	59	5	during	during	ADP
dem-4212	59	6	all	all	DET
dem-4212	59	7	the	the	DET
dem-4212	59	8	subsequent	subsequent	ADJ
dem-4212	59	9	hours	hour	NOUN
dem-4212	59	10	of	of	ADP
dem-4212	59	11	the	the	DET
dem-4212	59	12	sessions	session	NOUN
dem-4212	59	13	on	on	ADP
dem-4212	59	14	each	each	DET
dem-4212	59	15	day	day	NOUN
dem-4212	59	16	are	be	AUX
dem-4212	59	17	averaged	average	VERB
dem-4212	59	18	.	.	PUNCT
dem-4212	60	1	then	then	ADV
dem-4212	60	2	a	a	DET
dem-4212	60	3	cubic	cubic	ADJ
dem-4212	60	4	spline	spline	NOUN
dem-4212	60	5	with	with	ADP
dem-4212	60	6	knots	knot	NOUN
dem-4212	60	7	on	on	ADP
dem-4212	60	8	every	every	DET
dem-4212	60	9	full	full	ADJ
dem-4212	60	10	hour	hour	NOUN
dem-4212	60	11	of	of	ADP
dem-4212	60	12	the	the	DET
dem-4212	60	13	session	session	NOUN
dem-4212	60	14	is	be	AUX
dem-4212	60	15	determined	determine	VERB
dem-4212	60	16	.	.	PUNCT
dem-4212	61	1	knots	knot	NOUN
dem-4212	61	2	correspond	correspond	VERB
dem-4212	61	3	to	to	PART
dem-4212	61	4	previously	previously	ADV
dem-4212	61	5	determined	determine	VERB
dem-4212	61	6	average	average	ADJ
dem-4212	61	7	durations	duration	NOUN
dem-4212	61	8	.	.	PUNCT
dem-4212	62	1	this	this	DET
dem-4212	62	2	version	version	NOUN
dem-4212	62	3	of	of	ADP
dem-4212	62	4	approximation	approximation	NOUN
dem-4212	62	5	of	of	ADP
dem-4212	62	6	the	the	DET
dem-4212	62	7	daily	daily	ADJ
dem-4212	62	8	period	period	NOUN
dem-4212	62	9	factor	factor	NOUN
dem-4212	62	10	was	be	AUX
dem-4212	62	11	presented	present	VERB
dem-4212	62	12	in	in	ADP
dem-4212	62	13	the	the	DET
dem-4212	62	14	paper	paper	NOUN
dem-4212	62	15	(	(	PUNCT
dem-4212	62	16	engle	engle	PROPN
dem-4212	62	17	,	,	PUNCT
dem-4212	62	18	russell	russell	PROPN
dem-4212	62	19	,	,	PUNCT
dem-4212	62	20	1997	1997	NUM
dem-4212	62	21	)	)	PUNCT
dem-4212	62	22	.	.	PUNCT
dem-4212	63	1	with	with	ADP
dem-4212	63	2	a	a	DET
dem-4212	63	3	view	view	NOUN
dem-4212	63	4	to	to	ADP
dem-4212	63	5	ensuring	ensure	VERB
dem-4212	63	6	enhanced	enhanced	ADJ
dem-4212	63	7	elasticity	elasticity	NOUN
dem-4212	63	8	,	,	PUNCT
dem-4212	63	9	the	the	DET
dem-4212	63	10	authors	author	NOUN
dem-4212	63	11	added	add	VERB
dem-4212	63	12	a	a	DET
dem-4212	63	13	knot	knot	NOUN
dem-4212	63	14	on	on	ADP
dem-4212	63	15	the	the	DET
dem-4212	63	16	half	half	ADJ
dem-4212	63	17	-	-	PUNCT
dem-4212	63	18	hour	hour	NOUN
dem-4212	63	19	of	of	ADP
dem-4212	63	20	the	the	DET
dem-4212	63	21	last	last	ADJ
dem-4212	63	22	hour	hour	NOUN
dem-4212	63	23	of	of	ADP
dem-4212	63	24	the	the	DET
dem-4212	63	25	session	session	NOUN
dem-4212	63	26	to	to	PART
dem-4212	63	27	capture	capture	VERB
dem-4212	63	28	the	the	DET
dem-4212	63	29	fast	fast	ADJ
dem-4212	63	30	growing	grow	VERB
dem-4212	63	31	trade	trade	NOUN
dem-4212	63	32	activity	activity	NOUN
dem-4212	63	33	prior	prior	ADV
dem-4212	63	34	to	to	ADP
dem-4212	63	35	the	the	DET
dem-4212	63	36	close	close	NOUN
dem-4212	63	37	of	of	ADP
dem-4212	63	38	the	the	DET
dem-4212	63	39	stock	stock	NOUN
dem-4212	63	40	market	market	NOUN
dem-4212	63	41	.	.	PUNCT
dem-4212	64	1	a	a	DET
dem-4212	64	2	slightly	slightly	ADV
dem-4212	64	3	different	different	ADJ
dem-4212	64	4	approach	approach	NOUN
dem-4212	64	5	to	to	ADP
dem-4212	64	6	cubic	cubic	ADJ
dem-4212	64	7	spline	spline	NOUN
dem-4212	64	8	approximation	approximation	NOUN
dem-4212	64	9	can	can	AUX
dem-4212	64	10	be	be	AUX
dem-4212	64	11	observed	observe	VERB
dem-4212	64	12	in	in	ADP
dem-4212	64	13	paper	paper	NOUN
dem-4212	64	14	(	(	PUNCT
dem-4212	64	15	bauwens	bauwen	NOUN
dem-4212	64	16	,	,	PUNCT
dem-4212	64	17	giot	giot	NOUN
dem-4212	64	18	,	,	PUNCT
dem-4212	64	19	2000	2000	NUM
dem-4212	64	20	,	,	PUNCT
dem-4212	64	21	p.	p.	NOUN
dem-4212	64	22	135	135	NUM
dem-4212	64	23	)	)	PUNCT
dem-4212	64	24	.	.	PUNCT
dem-4212	65	1	the	the	DET
dem-4212	65	2	authors	author	NOUN
dem-4212	65	3	note	note	VERB
dem-4212	65	4	that	that	SCONJ
dem-4212	65	5	the	the	DET
dem-4212	65	6	intraday	intraday	NOUN
dem-4212	65	7	seasonality	seasonality	NOUN
dem-4212	65	8	factor	factor	NOUN
dem-4212	65	9	may	may	AUX
dem-4212	65	10	vary	vary	VERB
dem-4212	65	11	from	from	ADP
dem-4212	65	12	one	one	NUM
dem-4212	65	13	day	day	NOUN
dem-4212	65	14	of	of	ADP
dem-4212	65	15	the	the	DET
dem-4212	65	16	week	week	NOUN
dem-4212	65	17	to	to	ADP
dem-4212	65	18	the	the	DET
dem-4212	65	19	other	other	ADJ
dem-4212	65	20	,	,	PUNCT
dem-4212	65	21	i.e.	i.e.	X
dem-4212	65	22	the	the	DET
dem-4212	65	23	shape	shape	NOUN
dem-4212	65	24	of	of	ADP
dem-4212	65	25	the	the	DET
dem-4212	65	26	periodic	periodic	ADJ
dem-4212	65	27	factor	factor	NOUN
dem-4212	65	28	for	for	ADP
dem-4212	65	29	monday	monday	PROPN
dem-4212	65	30	can	can	AUX
dem-4212	65	31	be	be	AUX
dem-4212	65	32	distinct	distinct	ADJ
dem-4212	65	33	from	from	ADP
dem-4212	65	34	that	that	PRON
dem-4212	65	35	for	for	ADP
dem-4212	65	36	tuesday	tuesday	PROPN
dem-4212	65	37	etc	etc	X
dem-4212	65	38	.	.	X
dem-4212	66	1	consequently	consequently	ADV
dem-4212	66	2	,	,	PUNCT
dem-4212	66	3	the	the	DET
dem-4212	66	4	estimation	estimation	NOUN
dem-4212	66	5	of	of	ADP
dem-4212	66	6	the	the	DET
dem-4212	66	7	intraday	intraday	NOUN
dem-4212	66	8	seasonality	seasonality	NOUN
dem-4212	66	9	function	function	NOUN
dem-4212	66	10	was	be	AUX
dem-4212	66	11	conducted	conduct	VERB
dem-4212	66	12	separately	separately	ADV
dem-4212	66	13	for	for	ADP
dem-4212	66	14	each	each	DET
dem-4212	66	15	day	day	NOUN
dem-4212	66	16	of	of	ADP
dem-4212	66	17	the	the	DET
dem-4212	66	18	week	week	NOUN
dem-4212	66	19	to	to	PART
dem-4212	66	20	allow	allow	VERB
dem-4212	66	21	for	for	ADP
dem-4212	66	22	possible	possible	ADJ
dem-4212	66	23	seasonality	seasonality	NOUN
dem-4212	66	24	within	within	ADP
dem-4212	66	25	the	the	DET
dem-4212	66	26	week	week	NOUN
dem-4212	66	27	.	.	PUNCT
dem-4212	67	1	in	in	ADP
dem-4212	67	2	the	the	DET
dem-4212	67	3	first	first	ADJ
dem-4212	67	4	step	step	NOUN
dem-4212	67	5	,	,	PUNCT
dem-4212	67	6	durations	duration	NOUN
dem-4212	67	7	for	for	ADP
dem-4212	67	8	the	the	DET
dem-4212	67	9	subsequent	subsequent	ADJ
dem-4212	67	10	half	half	ADJ
dem-4212	67	11	-	-	PUNCT
dem-4212	67	12	hours	hour	NOUN
dem-4212	67	13	of	of	ADP
dem-4212	67	14	the	the	DET
dem-4212	67	15	session	session	NOUN
dem-4212	67	16	were	be	AUX
dem-4212	67	17	averaged	average	VERB
dem-4212	67	18	separately	separately	ADV
dem-4212	67	19	for	for	ADP
dem-4212	67	20	each	each	DET
dem-4212	67	21	day	day	NOUN
dem-4212	67	22	of	of	ADP
dem-4212	67	23	the	the	DET
dem-4212	67	24	week	week	NOUN
dem-4212	67	25	and	and	CCONJ
dem-4212	67	26	then	then	ADV
dem-4212	67	27	the	the	DET
dem-4212	67	28	parameters	parameter	NOUN
dem-4212	67	29	of	of	ADP
dem-4212	67	30	cubic	cubic	ADJ
dem-4212	67	31	splines	spline	NOUN
dem-4212	67	32	were	be	AUX
dem-4212	67	33	estimated	estimate	VERB
dem-4212	67	34	for	for	ADP
dem-4212	67	35	knots	knot	NOUN
dem-4212	67	36	at	at	ADP
dem-4212	67	37	full	full	ADJ
dem-4212	67	38	hours	hour	NOUN
dem-4212	67	39	and	and	CCONJ
dem-4212	67	40	half	half	ADJ
dem-4212	67	41	hours	hour	NOUN
dem-4212	67	42	.	.	PUNCT
dem-4212	68	1	an	an	DET
dem-4212	68	2	alternative	alternative	NOUN
dem-4212	68	3	and	and	CCONJ
dem-4212	68	4	second	second	ADV
dem-4212	68	5	most	most	ADV
dem-4212	68	6	commonly	commonly	ADV
dem-4212	68	7	practised	practise	VERB
dem-4212	68	8	method	method	NOUN
dem-4212	68	9	of	of	ADP
dem-4212	68	10	estimation	estimation	NOUN
dem-4212	68	11	of	of	ADP
dem-4212	68	12	intraday	intraday	NOUN
dem-4212	68	13	seasonality	seasonality	NOUN
dem-4212	68	14	function	function	NOUN
dem-4212	68	15	is	be	AUX
dem-4212	68	16	the	the	DET
dem-4212	68	17	kernel	kernel	PROPN
dem-4212	68	18	estimation	estimation	NOUN
dem-4212	68	19	method	method	NOUN
dem-4212	68	20	.	.	PUNCT
dem-4212	69	1	the	the	DET
dem-4212	69	2	intraday	intraday	PROPN
dem-4212	69	3	seasonality	seasonality	NOUN
dem-4212	69	4	pattern	pattern	NOUN
dem-4212	69	5	is	be	AUX
dem-4212	69	6	estimated	estimate	VERB
dem-4212	69	7	as	as	ADP
dem-4212	69	8	the	the	DET
dem-4212	69	9	nadaraya	nadaraya	PROPN
dem-4212	69	10	-	-	PUNCT
dem-4212	69	11	watson	watson	PROPN
dem-4212	69	12	kernel	kernel	PROPN
dem-4212	69	13	estimator	estimator	NOUN
dem-4212	69	14	of	of	ADP
dem-4212	69	15	regression	regression	NOUN
dem-4212	69	16	of	of	ADP
dem-4212	69	17	raw	raw	ADJ
dem-4212	69	18	durations	duration	NOUN
dem-4212	69	19	on	on	ADP
dem-4212	69	20	the	the	DET
dem-4212	69	21	time	time	NOUN
dem-4212	69	22	of	of	ADP
dem-4212	69	23	the	the	DET
dem-4212	69	24	day	day	NOUN
dem-4212	69	25	(	(	PUNCT
dem-4212	69	26	cf	cf	NOUN
dem-4212	69	27	.	.	PUNCT
dem-4212	70	1	bauwens	bauwen	NOUN
dem-4212	70	2	,	,	PUNCT
dem-4212	70	3	veredas	vereda	NOUN
dem-4212	70	4	,	,	PUNCT
dem-4212	70	5	2004	2004	NUM
dem-4212	70	6	,	,	PUNCT
dem-4212	70	7	p.	p.	NOUN
dem-4212	70	8	398	398	NUM
dem-4212	70	9	):	):	PUNCT
dem-4212	70	10	,	,	PUNCT
dem-4212	70	11	)	)	PUNCT
dem-4212	70	12	(	(	PUNCT
dem-4212	70	13	1	1	NUM
dem-4212	70	14	1	1	NUM
dem-4212	70	15	∑	∑	PUNCT
dem-4212	70	16	∑	∑	PUNCT
dem-4212	70	17	=	=	SYM
dem-4212	70	18	=	=	SYM
dem-4212	70	19	⎟⎟	⎟⎟	ADJ
dem-4212	70	20	⎠	⎠	NOUN
dem-4212	70	21	⎞	⎞	NOUN
dem-4212	70	22	⎜⎜	⎜⎜	NOUN
dem-4212	70	23	⎝	⎝	PUNCT
dem-4212	70	24	⎛	⎛	NOUN
dem-4212	70	25	−	−	NOUN
dem-4212	70	26	⎟⎟	⎟⎟	ADJ
dem-4212	70	27	⎠	⎠	NOUN
dem-4212	70	28	⎞	⎞	NOUN
dem-4212	70	29	⎜⎜	⎜⎜	NOUN
dem-4212	70	30	⎝	⎝	PUNCT
dem-4212	70	31	⎛	⎛	NOUN
dem-4212	70	32	−	−	NOUN
dem-4212	70	33	=	=	SYM
dem-4212	70	34	n	n	PROPN
dem-4212	70	35	i	i	PRON
dem-4212	70	36	n	n	VERB
dem-4212	71	1	i	i	PRON
dem-4212	71	2	n	n	VERB
dem-4212	72	1	i	i	PRON
dem-4212	72	2	n	n	VERB
dem-4212	73	1	i	i	PRON
dem-4212	74	1	i	i	PRON
dem-4212	74	2	h	h	NOUN
dem-4212	74	3	ttk	ttk	PROPN
dem-4212	74	4	h	h	PROPN
dem-4212	74	5	ttkx	ttkx	PROPN
dem-4212	74	6	tφ	tφ	PROPN
dem-4212	74	7	where	where	SCONJ
dem-4212	74	8	:	:	PUNCT
dem-4212	74	9	t	t	NOUN
dem-4212	74	10	number	number	NOUN
dem-4212	74	11	of	of	ADP
dem-4212	74	12	seconds	second	NOUN
dem-4212	74	13	since	since	SCONJ
dem-4212	74	14	the	the	DET
dem-4212	74	15	midnight	midnight	NOUN
dem-4212	74	16	of	of	ADP
dem-4212	74	17	each	each	DET
dem-4212	74	18	day	day	NOUN
dem-4212	74	19	(	(	PUNCT
dem-4212	74	20	or	or	CCONJ
dem-4212	74	21	since	since	SCONJ
dem-4212	74	22	the	the	DET
dem-4212	74	23	start	start	NOUN
dem-4212	74	24	of	of	ADP
dem-4212	74	25	a	a	DET
dem-4212	74	26	session	session	NOUN
dem-4212	74	27	)	)	PUNCT
dem-4212	74	28	,	,	PUNCT
dem-4212	74	29	ix	ix	ADP
dem-4212	74	30	durations	duration	NOUN
dem-4212	74	31	corresponding	correspond	VERB
dem-4212	74	32	to	to	ADP
dem-4212	74	33	moments	moment	NOUN
dem-4212	74	34	it	it	PRON
dem-4212	75	1	(	(	PUNCT
dem-4212	75	2	ix	ix	ADV
dem-4212	75	3	is	be	AUX
dem-4212	75	4	a	a	DET
dem-4212	75	5	dependent	dependent	ADJ
dem-4212	75	6	variable	variable	NOUN
dem-4212	75	7	)	)	PUNCT
dem-4212	75	8	,	,	PUNCT
dem-4212	75	9	it	it	PRON
dem-4212	75	10	number	number	NOUN
dem-4212	75	11	of	of	ADP
dem-4212	75	12	seconds	second	NOUN
dem-4212	75	13	since	since	SCONJ
dem-4212	75	14	the	the	DET
dem-4212	75	15	midnight	midnight	NOUN
dem-4212	75	16	of	of	ADP
dem-4212	75	17	each	each	DET
dem-4212	75	18	day	day	NOUN
dem-4212	75	19	(	(	PUNCT
dem-4212	75	20	or	or	CCONJ
dem-4212	75	21	since	since	SCONJ
dem-4212	75	22	the	the	DET
dem-4212	75	23	start	start	NOUN
dem-4212	75	24	of	of	ADP
dem-4212	75	25	a	a	DET
dem-4212	75	26	session	session	NOUN
dem-4212	75	27	)	)	PUNCT
dem-4212	75	28	until	until	ADP
dem-4212	75	29	the	the	DET
dem-4212	75	30	moment	moment	NOUN
dem-4212	75	31	of	of	ADP
dem-4212	75	32	a	a	DET
dem-4212	75	33	given	give	VERB
dem-4212	75	34	transaction	transaction	NOUN
dem-4212	75	35	,	,	PUNCT
dem-4212	75	36	k	k	PROPN
dem-4212	75	37	kernel	kernel	PROPN
dem-4212	75	38	function	function	PROPN
dem-4212	75	39	,	,	PUNCT
dem-4212	75	40	nh	nh	NOUN
dem-4212	75	41	bandwidth	bandwidth	NOUN
dem-4212	75	42	,	,	PUNCT
dem-4212	75	43	s	s	PART
dem-4212	75	44	standard	standard	ADJ
dem-4212	75	45	deviation	deviation	NOUN
dem-4212	75	46	of	of	ADP
dem-4212	75	47	sample	sample	NOUN
dem-4212	75	48	it	it	PRON
dem-4212	75	49	,	,	PUNCT
dem-4212	75	50	n	n	DET
dem-4212	75	51	number	number	NOUN
dem-4212	75	52	of	of	ADP
dem-4212	75	53	observations	observation	NOUN
dem-4212	75	54	.	.	PUNCT
dem-4212	76	1	intraday	intraday	NOUN
dem-4212	76	2	seasonality	seasonality	NOUN
dem-4212	76	3	in	in	ADP
dem-4212	76	4	analysis	analysis	NOUN
dem-4212	76	5	of	of	ADP
dem-4212	76	6	uhf	uhf	PROPN
dem-4212	76	7	financial	financial	ADJ
dem-4212	76	8	data	datum	NOUN
dem-4212	76	9	:	:	PUNCT
dem-4212	76	10	models	model	NOUN
dem-4212	76	11	…	…	PUNCT
dem-4212	76	12	133	133	NUM
dem-4212	76	13	as	as	ADV
dem-4212	76	14	far	far	ADV
dem-4212	76	15	as	as	SCONJ
dem-4212	76	16	the	the	DET
dem-4212	76	17	kernel	kernel	NOUN
dem-4212	76	18	function	function	NOUN
dem-4212	76	19	is	be	AUX
dem-4212	76	20	concerned	concern	VERB
dem-4212	76	21	,	,	PUNCT
dem-4212	76	22	the	the	DET
dem-4212	76	23	paper	paper	NOUN
dem-4212	76	24	(	(	PUNCT
dem-4212	76	25	bauwens	bauwen	NOUN
dem-4212	76	26	,	,	PUNCT
dem-4212	76	27	veredas	vereda	NOUN
dem-4212	76	28	,	,	PUNCT
dem-4212	76	29	2004	2004	NUM
dem-4212	76	30	,	,	PUNCT
dem-4212	76	31	p.	p.	NOUN
dem-4212	76	32	398	398	NUM
dem-4212	76	33	)	)	PUNCT
dem-4212	76	34	makes	make	VERB
dem-4212	76	35	use	use	NOUN
dem-4212	76	36	of	of	ADP
dem-4212	76	37	the	the	DET
dem-4212	76	38	quartic	quartic	ADJ
dem-4212	76	39	kernel	kernel	NOUN
dem-4212	76	40	(	(	PUNCT
dem-4212	76	41	with	with	ADP
dem-4212	76	42	optimal	optimal	ADJ
dem-4212	76	43	bandwidth	bandwidth	NOUN
dem-4212	76	44	of	of	ADP
dem-4212	76	45	5/178,2	5/178,2	NUM
dem-4212	76	46	−sn	−sn	ADP
dem-4212	76	47	)	)	PUNCT
dem-4212	76	48	which	which	PRON
dem-4212	76	49	has	have	VERB
dem-4212	76	50	the	the	DET
dem-4212	76	51	following	follow	VERB
dem-4212	76	52	shape	shape	NOUN
dem-4212	76	53	:	:	PUNCT
dem-4212	76	54	,	,	PUNCT
dem-4212	76	55	1||,0	1||,0	NUM
dem-4212	76	56	1||,)1	1||,)1	NUM
dem-4212	76	57	(	(	PUNCT
dem-4212	76	58	16	16	NUM
dem-4212	76	59	15	15	NUM
dem-4212	76	60	)	)	PUNCT
dem-4212	76	61	(	(	PUNCT
dem-4212	76	62	22	22	NUM
dem-4212	76	63	⎪⎩	⎪⎩	ADJ
dem-4212	76	64	⎪	⎪	NOUN
dem-4212	76	65	⎨	⎨	PROPN
dem-4212	76	66	⎧	⎧	PROPN
dem-4212	76	67	>	>	PROPN
dem-4212	76	68	≤−=	≤−=	PROPN
dem-4212	76	69	xdla	xdla	PROPN
dem-4212	76	70	xdlaxxk	xdlaxxk	PROPN
dem-4212	76	71	and	and	CCONJ
dem-4212	76	72	in	in	ADP
dem-4212	76	73	paper	paper	NOUN
dem-4212	76	74	(	(	PUNCT
dem-4212	76	75	bauwens	bauwen	NOUN
dem-4212	76	76	,	,	PUNCT
dem-4212	76	77	giot	giot	NOUN
dem-4212	76	78	,	,	PUNCT
dem-4212	76	79	2002	2002	NUM
dem-4212	76	80	,	,	PUNCT
dem-4212	76	81	p.	p.	NOUN
dem-4212	76	82	13	13	NUM
dem-4212	76	83	)	)	PUNCT
dem-4212	76	84	use	use	NOUN
dem-4212	76	85	is	be	AUX
dem-4212	76	86	made	make	VERB
dem-4212	76	87	of	of	ADP
dem-4212	76	88	the	the	DET
dem-4212	76	89	gamma	gamma	PROPN
dem-4212	76	90	kernel	kernel	PROPN
dem-4212	76	91	function	function	PROPN
dem-4212	76	92	.	.	PUNCT
dem-4212	77	1	in	in	ADP
dem-4212	77	2	the	the	DET
dem-4212	77	3	case	case	NOUN
dem-4212	77	4	of	of	ADP
dem-4212	77	5	paper	paper	NOUN
dem-4212	77	6	(	(	PUNCT
dem-4212	77	7	bauwens	bauwen	NOUN
dem-4212	77	8	,	,	PUNCT
dem-4212	77	9	veredas	vereda	NOUN
dem-4212	77	10	,	,	PUNCT
dem-4212	77	11	2004	2004	NUM
dem-4212	77	12	,	,	PUNCT
dem-4212	77	13	p.	p.	NOUN
dem-4212	77	14	398	398	NUM
dem-4212	77	15	)	)	PUNCT
dem-4212	77	16	the	the	DET
dem-4212	77	17	estimation	estimation	NOUN
dem-4212	77	18	of	of	ADP
dem-4212	77	19	the	the	DET
dem-4212	77	20	intraday	intraday	NOUN
dem-4212	77	21	seasonality	seasonality	NOUN
dem-4212	77	22	function	function	NOUN
dem-4212	77	23	is	be	AUX
dem-4212	77	24	made	make	VERB
dem-4212	77	25	separately	separately	ADV
dem-4212	77	26	for	for	ADP
dem-4212	77	27	each	each	DET
dem-4212	77	28	day	day	NOUN
dem-4212	77	29	of	of	ADP
dem-4212	77	30	the	the	DET
dem-4212	77	31	week	week	NOUN
dem-4212	77	32	to	to	PART
dem-4212	77	33	incorporate	incorporate	VERB
dem-4212	77	34	possible	possible	ADJ
dem-4212	77	35	seasonality	seasonality	NOUN
dem-4212	77	36	arising	arise	VERB
dem-4212	77	37	from	from	ADP
dem-4212	77	38	the	the	DET
dem-4212	77	39	transaction	transaction	NOUN
dem-4212	77	40	repetition	repetition	NOUN
dem-4212	77	41	patterns	pattern	NOUN
dem-4212	77	42	also	also	ADV
dem-4212	77	43	over	over	ADP
dem-4212	77	44	a	a	DET
dem-4212	77	45	week	week	NOUN
dem-4212	77	46	-	-	PUNCT
dem-4212	77	47	long	long	ADJ
dem-4212	77	48	period	period	NOUN
dem-4212	77	49	.	.	PUNCT
dem-4212	78	1	4	4	X
dem-4212	78	2	.	.	X
dem-4212	78	3	empirical	empirical	ADJ
dem-4212	78	4	example	example	NOUN
dem-4212	78	5	the	the	DET
dem-4212	78	6	empirical	empirical	ADJ
dem-4212	78	7	verification	verification	NOUN
dem-4212	78	8	of	of	ADP
dem-4212	78	9	the	the	DET
dem-4212	78	10	methods	method	NOUN
dem-4212	78	11	presented	present	VERB
dem-4212	78	12	above	above	ADV
dem-4212	78	13	was	be	AUX
dem-4212	78	14	carried	carry	VERB
dem-4212	78	15	out	out	ADP
dem-4212	78	16	on	on	ADP
dem-4212	78	17	the	the	DET
dem-4212	78	18	basis	basis	NOUN
dem-4212	78	19	of	of	ADP
dem-4212	78	20	time	time	NOUN
dem-4212	78	21	series	series	PROPN
dem-4212	78	22	involving	involve	VERB
dem-4212	78	23	trades	trade	NOUN
dem-4212	78	24	in	in	ADP
dem-4212	78	25	the	the	DET
dem-4212	78	26	shares	share	NOUN
dem-4212	78	27	of	of	ADP
dem-4212	78	28	three	three	NUM
dem-4212	78	29	companies	company	NOUN
dem-4212	78	30	listed	list	VERB
dem-4212	78	31	in	in	ADP
dem-4212	78	32	the	the	DET
dem-4212	78	33	wig20	wig20	PROPN
dem-4212	78	34	index	index	NOUN
dem-4212	78	35	:	:	PUNCT
dem-4212	78	36	telekomunikacja	telekomunikacja	PROPN
dem-4212	78	37	polska	polska	PROPN
dem-4212	78	38	s.a	s.a	PROPN
dem-4212	78	39	.	.	PUNCT
dem-4212	79	1	(	(	PUNCT
dem-4212	79	2	tpsa)/polish	tpsa)/polish	PROPN
dem-4212	79	3	telecom/	telecom/	NUM
dem-4212	79	4	,	,	PUNCT
dem-4212	79	5	agora	agora	PROPN
dem-4212	79	6	s.a	s.a	PROPN
dem-4212	79	7	.	.	PROPN
dem-4212	80	1	(	(	PUNCT
dem-4212	80	2	agora	agora	INTJ
dem-4212	80	3	)	)	PUNCT
dem-4212	80	4	and	and	CCONJ
dem-4212	80	5	cez	cez	PROPN
dem-4212	80	6	s.a	s.a	PROPN
dem-4212	80	7	.	.	PROPN
dem-4212	80	8	(	(	PUNCT
dem-4212	80	9	cez	cez	NOUN
dem-4212	80	10	)	)	PUNCT
dem-4212	80	11	over	over	ADP
dem-4212	80	12	a	a	DET
dem-4212	80	13	period	period	NOUN
dem-4212	80	14	between	between	ADP
dem-4212	80	15	22	22	NUM
dem-4212	80	16	march	march	NOUN
dem-4212	80	17	2009	2009	NUM
dem-4212	80	18	and	and	CCONJ
dem-4212	80	19	25	25	NUM
dem-4212	80	20	june	june	PROPN
dem-4212	80	21	2009	2009	NUM
dem-4212	80	22	.	.	PUNCT
dem-4212	81	1	the	the	DET
dem-4212	81	2	analysis	analysis	NOUN
dem-4212	81	3	covers	cover	VERB
dem-4212	81	4	transactions	transaction	NOUN
dem-4212	81	5	closed	close	VERB
dem-4212	81	6	during	during	ADP
dem-4212	81	7	the	the	DET
dem-4212	81	8	continuous	continuous	ADJ
dem-4212	81	9	quotation	quotation	NOUN
dem-4212	81	10	phase	phase	NOUN
dem-4212	81	11	.	.	PUNCT
dem-4212	82	1	on	on	ADP
dem-4212	82	2	the	the	DET
dem-4212	82	3	basis	basis	NOUN
dem-4212	82	4	of	of	ADP
dem-4212	82	5	such	such	ADJ
dem-4212	82	6	time	time	NOUN
dem-4212	82	7	series	series	NOUN
dem-4212	82	8	,	,	PUNCT
dem-4212	82	9	durations	duration	NOUN
dem-4212	82	10	between	between	ADP
dem-4212	82	11	each	each	DET
dem-4212	82	12	transaction	transaction	NOUN
dem-4212	82	13	were	be	AUX
dem-4212	82	14	determined	determine	VERB
dem-4212	82	15	.	.	PUNCT
dem-4212	83	1	additionally	additionally	ADV
dem-4212	83	2	,	,	PUNCT
dem-4212	83	3	the	the	DET
dem-4212	83	4	time	time	NOUN
dem-4212	83	5	lags	lag	VERB
dem-4212	83	6	between	between	ADP
dem-4212	83	7	the	the	DET
dem-4212	83	8	close	close	NOUN
dem-4212	83	9	of	of	ADP
dem-4212	83	10	the	the	DET
dem-4212	83	11	session	session	NOUN
dem-4212	83	12	and	and	CCONJ
dem-4212	83	13	the	the	DET
dem-4212	83	14	opening	opening	NOUN
dem-4212	83	15	of	of	ADP
dem-4212	83	16	next	next	ADJ
dem-4212	83	17	day	day	NOUN
dem-4212	83	18	’s	’s	PART
dem-4212	83	19	trading	trading	NOUN
dem-4212	83	20	were	be	AUX
dem-4212	83	21	removed	remove	VERB
dem-4212	83	22	.	.	PUNCT
dem-4212	84	1	tabel	tabel	NOUN
dem-4212	84	2	1	1	NUM
dem-4212	84	3	.	.	PUNCT
dem-4212	84	4	descriptive	descriptive	ADJ
dem-4212	84	5	statistics	statistic	NOUN
dem-4212	84	6	of	of	ADP
dem-4212	84	7	transaction	transaction	NOUN
dem-4212	84	8	durations	duration	NOUN
dem-4212	84	9	cez	cez	PROPN
dem-4212	84	10	agora	agora	PROPN
dem-4212	84	11	tpsa	tpsa	NOUN
dem-4212	84	12	number	number	NOUN
dem-4212	84	13	of	of	ADP
dem-4212	84	14	observations	observation	NOUN
dem-4212	84	15	13919	13919	NUM
dem-4212	84	16	19183	19183	NUM
dem-4212	84	17	65166	65166	NUM
dem-4212	84	18	mean	mean	VERB
dem-4212	84	19	98.930	98.930	NUM
dem-4212	84	20	84.840	84.840	NUM
dem-4212	84	21	25.110	25.110	NUM
dem-4212	84	22	standard	standard	ADJ
dem-4212	84	23	deviation	deviation	NOUN
dem-4212	84	24	(	(	PUNCT
dem-4212	84	25	sd	sd	NOUN
dem-4212	84	26	)	)	PUNCT
dem-4212	84	27	224.720	224.720	NUM
dem-4212	84	28	176.560	176.560	NUM
dem-4212	84	29	43.640	43.640	NUM
dem-4212	84	30	dispersion	dispersion	NOUN
dem-4212	84	31	index	index	NOUN
dem-4212	84	32	(	(	PUNCT
dem-4212	84	33	=	=	PRON
dem-4212	84	34	mean	mean	VERB
dem-4212	84	35	/	/	SYM
dem-4212	84	36	sd	sd	NOUN
dem-4212	84	37	)	)	PUNCT
dem-4212	84	38	2.270	2.270	NUM
dem-4212	84	39	2.080	2.080	NUM
dem-4212	84	40	1.740	1.740	NUM
dem-4212	84	41	minimum	minimum	NOUN
dem-4212	84	42	1	1	NUM
dem-4212	84	43	1	1	NUM
dem-4212	84	44	1	1	NUM
dem-4212	84	45	maximum	maximum	ADJ
dem-4212	84	46	4196	4196	NUM
dem-4212	84	47	4003	4003	NUM
dem-4212	84	48	833	833	NUM
dem-4212	84	49	acf(1	acf(1	NOUN
dem-4212	84	50	)	)	PUNCT
dem-4212	84	51	0.220	0.220	NUM
dem-4212	84	52	0.225	0.225	NUM
dem-4212	84	53	0.212	0.212	NUM
dem-4212	84	54	acf(2	acf(2	NOUN
dem-4212	84	55	)	)	PUNCT
dem-4212	85	1	0.157	0.157	NUM
dem-4212	85	2	0.176	0.176	NUM
dem-4212	85	3	0.168	0.168	NUM
dem-4212	85	4	q(5	q(5	PROPN
dem-4212	85	5	)	)	PUNCT
dem-4212	85	6	1805.430	1805.430	NUM
dem-4212	85	7	2799.010	2799.010	NUM
dem-4212	85	8	8948.820	8948.820	NUM
dem-4212	85	9	q(10	q(10	NOUN
dem-4212	85	10	)	)	PUNCT
dem-4212	85	11	2569.120	2569.120	PROPN
dem-4212	85	12	4111.970	4111.970	DET
dem-4212	85	13	13294.120	13294.120	NUM
dem-4212	85	14	q(15	q(15	PROPN
dem-4212	85	15	)	)	PUNCT
dem-4212	85	16	3056.570	3056.570	NUM
dem-4212	85	17	5179.310	5179.310	PROPN
dem-4212	85	18	16546.610	16546.610	NUM
dem-4212	85	19	q(20	q(20	ADJ
dem-4212	85	20	)	)	PUNCT
dem-4212	85	21	3298.350	3298.350	PROPN
dem-4212	85	22	5866.790	5866.790	NUM
dem-4212	85	23	19483.450	19483.450	NUM
dem-4212	85	24	note	note	NOUN
dem-4212	85	25	:	:	PUNCT
dem-4212	85	26	acf(k	acf(k	X
dem-4212	85	27	)	)	PUNCT
dem-4212	85	28	–	–	PUNCT
dem-4212	85	29	the	the	DET
dem-4212	85	30	value	value	NOUN
dem-4212	85	31	of	of	ADP
dem-4212	85	32	the	the	DET
dem-4212	85	33	k	k	NOUN
dem-4212	85	34	-	-	PUNCT
dem-4212	85	35	th	th	VERB
dem-4212	85	36	order	order	NOUN
dem-4212	85	37	autocorrelation	autocorrelation	NOUN
dem-4212	85	38	coefficient	coefficient	NOUN
dem-4212	85	39	,	,	PUNCT
dem-4212	85	40	q(k	q(k	PROPN
dem-4212	85	41	)	)	PUNCT
dem-4212	85	42	–	–	PUNCT
dem-4212	85	43	the	the	DET
dem-4212	85	44	value	value	NOUN
dem-4212	85	45	of	of	ADP
dem-4212	85	46	the	the	DET
dem-4212	85	47	ljung	ljung	PROPN
dem-4212	85	48	-	-	PUNCT
dem-4212	85	49	box	box	NOUN
dem-4212	85	50	q	q	NOUN
dem-4212	85	51	-	-	NOUN
dem-4212	85	52	statistic	statistic	NOUN
dem-4212	85	53	of	of	ADP
dem-4212	85	54	k	k	NOUN
dem-4212	85	55	-	-	PUNCT
dem-4212	85	56	th	th	VERB
dem-4212	85	57	order	order	NOUN
dem-4212	85	58	,	,	PUNCT
dem-4212	85	59	descriptive	descriptive	ADJ
dem-4212	85	60	statistics	statistic	NOUN
dem-4212	85	61	in	in	ADP
dem-4212	85	62	seconds	second	NOUN
dem-4212	85	63	.	.	PUNCT
dem-4212	86	1	roman	roman	ADJ
dem-4212	86	2	huptas	hupta	NOUN
dem-4212	86	3	134	134	NUM
dem-4212	86	4	the	the	DET
dem-4212	86	5	basic	basic	ADJ
dem-4212	86	6	descriptive	descriptive	ADJ
dem-4212	86	7	statistics	statistic	NOUN
dem-4212	86	8	of	of	ADP
dem-4212	86	9	transaction	transaction	NOUN
dem-4212	86	10	durations	duration	NOUN
dem-4212	86	11	for	for	ADP
dem-4212	86	12	the	the	DET
dem-4212	86	13	shares	share	NOUN
dem-4212	86	14	in	in	ADP
dem-4212	86	15	question	question	NOUN
dem-4212	86	16	are	be	AUX
dem-4212	86	17	illustrated	illustrate	VERB
dem-4212	86	18	in	in	ADP
dem-4212	86	19	table	table	NOUN
dem-4212	86	20	1	1	NUM
dem-4212	86	21	.	.	PUNCT
dem-4212	87	1	in	in	ADP
dem-4212	87	2	our	our	PRON
dem-4212	87	3	example	example	NOUN
dem-4212	87	4	,	,	PUNCT
dem-4212	87	5	we	we	PRON
dem-4212	87	6	witness	witness	VERB
dem-4212	87	7	three	three	NUM
dem-4212	87	8	companies	company	NOUN
dem-4212	87	9	experiencing	experience	VERB
dem-4212	87	10	different	different	ADJ
dem-4212	87	11	trading	trading	NOUN
dem-4212	87	12	activity	activity	NOUN
dem-4212	87	13	patterns	pattern	NOUN
dem-4212	87	14	.	.	PUNCT
dem-4212	88	1	the	the	DET
dem-4212	88	2	majority	majority	NOUN
dem-4212	88	3	of	of	ADP
dem-4212	88	4	the	the	DET
dem-4212	88	5	transactions	transaction	NOUN
dem-4212	88	6	involved	involve	VERB
dem-4212	88	7	tpsa	tpsa	NOUN
dem-4212	88	8	,	,	PUNCT
dem-4212	88	9	for	for	ADP
dem-4212	88	10	which	which	PRON
dem-4212	88	11	the	the	DET
dem-4212	88	12	average	average	ADJ
dem-4212	88	13	duration	duration	NOUN
dem-4212	88	14	between	between	ADP
dem-4212	88	15	transactions	transaction	NOUN
dem-4212	88	16	is	be	AUX
dem-4212	88	17	25	25	NUM
dem-4212	88	18	seconds	second	NOUN
dem-4212	88	19	.	.	PUNCT
dem-4212	89	1	cez	cez	PROPN
dem-4212	89	2	reported	report	VERB
dem-4212	89	3	the	the	DET
dem-4212	89	4	fewest	few	ADJ
dem-4212	89	5	transactions	transaction	NOUN
dem-4212	89	6	and	and	CCONJ
dem-4212	89	7	the	the	DET
dem-4212	89	8	average	average	ADJ
dem-4212	89	9	transaction	transaction	NOUN
dem-4212	89	10	time	time	NOUN
dem-4212	89	11	is	be	AUX
dem-4212	89	12	99	99	NUM
dem-4212	89	13	seconds	second	NOUN
dem-4212	89	14	.	.	PUNCT
dem-4212	90	1	agora	agora	INTJ
dem-4212	90	2	,	,	PUNCT
dem-4212	90	3	in	in	ADP
dem-4212	90	4	turn	turn	NOUN
dem-4212	90	5	,	,	PUNCT
dem-4212	90	6	is	be	AUX
dem-4212	90	7	a	a	DET
dem-4212	90	8	company	company	NOUN
dem-4212	90	9	of	of	ADP
dem-4212	90	10	average	average	ADJ
dem-4212	90	11	liquidity	liquidity	NOUN
dem-4212	90	12	and	and	CCONJ
dem-4212	90	13	the	the	DET
dem-4212	90	14	average	average	ADJ
dem-4212	90	15	duration	duration	NOUN
dem-4212	90	16	is	be	AUX
dem-4212	90	17	around	around	ADV
dem-4212	90	18	85	85	NUM
dem-4212	90	19	seconds	second	NOUN
dem-4212	90	20	.	.	PUNCT
dem-4212	91	1	in	in	ADP
dem-4212	91	2	an	an	DET
dem-4212	91	3	analysis	analysis	NOUN
dem-4212	91	4	of	of	ADP
dem-4212	91	5	the	the	DET
dem-4212	91	6	features	feature	NOUN
dem-4212	91	7	of	of	ADP
dem-4212	91	8	the	the	DET
dem-4212	91	9	distribution	distribution	NOUN
dem-4212	91	10	of	of	ADP
dem-4212	91	11	durations	duration	NOUN
dem-4212	91	12	our	our	PRON
dem-4212	91	13	attention	attention	NOUN
dem-4212	91	14	is	be	AUX
dem-4212	91	15	momentarily	momentarily	ADV
dem-4212	91	16	attracted	attract	VERB
dem-4212	91	17	to	to	ADP
dem-4212	91	18	marked	mark	VERB
dem-4212	91	19	overdispersion	overdispersion	NOUN
dem-4212	91	20	,	,	PUNCT
dem-4212	91	21	i.e.	i.e.	X
dem-4212	91	22	the	the	DET
dem-4212	91	23	standard	standard	ADJ
dem-4212	91	24	deviation	deviation	NOUN
dem-4212	91	25	exceeds	exceed	VERB
dem-4212	91	26	the	the	DET
dem-4212	91	27	mean	mean	NOUN
dem-4212	91	28	.	.	PUNCT
dem-4212	92	1	the	the	DET
dem-4212	92	2	dispersion	dispersion	NOUN
dem-4212	92	3	indexes	index	NOUN
dem-4212	92	4	(	(	PUNCT
dem-4212	92	5	the	the	DET
dem-4212	92	6	ratio	ratio	NOUN
dem-4212	92	7	standard	standard	ADJ
dem-4212	92	8	deviation	deviation	NOUN
dem-4212	92	9	to	to	PART
dem-4212	92	10	mean	mean	VERB
dem-4212	92	11	)	)	PUNCT
dem-4212	92	12	are	be	AUX
dem-4212	92	13	generally	generally	ADV
dem-4212	92	14	very	very	ADV
dem-4212	92	15	high	high	ADJ
dem-4212	92	16	,	,	PUNCT
dem-4212	92	17	which	which	PRON
dem-4212	92	18	may	may	AUX
dem-4212	92	19	imply	imply	VERB
dem-4212	92	20	great	great	ADJ
dem-4212	92	21	dynamics	dynamic	NOUN
dem-4212	92	22	of	of	ADP
dem-4212	92	23	the	the	DET
dem-4212	92	24	series	series	NOUN
dem-4212	92	25	in	in	ADP
dem-4212	92	26	question	question	NOUN
dem-4212	92	27	.	.	PUNCT
dem-4212	93	1	it	it	PRON
dem-4212	93	2	is	be	AUX
dem-4212	93	3	worth	worth	ADJ
dem-4212	93	4	noting	note	VERB
dem-4212	93	5	that	that	SCONJ
dem-4212	93	6	the	the	DET
dem-4212	93	7	greater	great	ADJ
dem-4212	93	8	the	the	DET
dem-4212	93	9	frequency	frequency	NOUN
dem-4212	93	10	of	of	ADP
dem-4212	93	11	trades	trade	NOUN
dem-4212	93	12	,	,	PUNCT
dem-4212	93	13	the	the	PRON
dem-4212	93	14	lower	low	ADJ
dem-4212	93	15	the	the	DET
dem-4212	93	16	value	value	NOUN
dem-4212	93	17	of	of	ADP
dem-4212	93	18	the	the	DET
dem-4212	93	19	dispersion	dispersion	NOUN
dem-4212	93	20	index	index	NOUN
dem-4212	93	21	.	.	PUNCT
dem-4212	94	1	the	the	DET
dem-4212	94	2	values	value	NOUN
dem-4212	94	3	of	of	ADP
dem-4212	94	4	the	the	DET
dem-4212	94	5	q	q	PUNCT
dem-4212	94	6	ljung	ljung	PROPN
dem-4212	94	7	-	-	PUNCT
dem-4212	94	8	box	box	NOUN
dem-4212	94	9	statistics	statistic	NOUN
dem-4212	94	10	in	in	ADP
dem-4212	94	11	table	table	NOUN
dem-4212	94	12	1	1	NUM
dem-4212	94	13	formally	formally	ADV
dem-4212	94	14	test	test	VERB
dem-4212	94	15	the	the	DET
dem-4212	94	16	null	null	ADJ
dem-4212	94	17	hypothesis	hypothesis	NOUN
dem-4212	94	18	whereby	whereby	SCONJ
dem-4212	94	19	there	there	PRON
dem-4212	94	20	is	be	VERB
dem-4212	94	21	no	no	DET
dem-4212	94	22	autocorrelation	autocorrelation	NOUN
dem-4212	94	23	of	of	ADP
dem-4212	94	24	durations	duration	NOUN
dem-4212	94	25	respectively	respectively	ADV
dem-4212	94	26	for	for	ADP
dem-4212	94	27	the	the	DET
dem-4212	94	28	fifth	fifth	ADJ
dem-4212	94	29	,	,	PUNCT
dem-4212	94	30	the	the	DET
dem-4212	94	31	tenth	tenth	NOUN
dem-4212	94	32	,	,	PUNCT
dem-4212	94	33	the	the	DET
dem-4212	94	34	fifteenth	fifteenth	NOUN
dem-4212	94	35	and	and	CCONJ
dem-4212	94	36	the	the	DET
dem-4212	94	37	twentieth	twentieth	ADJ
dem-4212	94	38	order	order	NOUN
dem-4212	94	39	.	.	PUNCT
dem-4212	95	1	clearly	clearly	ADV
dem-4212	95	2	,	,	PUNCT
dem-4212	95	3	on	on	ADP
dem-4212	95	4	the	the	DET
dem-4212	95	5	basis	basis	NOUN
dem-4212	95	6	of	of	ADP
dem-4212	95	7	the	the	DET
dem-4212	95	8	determined	determined	ADJ
dem-4212	95	9	test	test	NOUN
dem-4212	95	10	statistics	statistic	NOUN
dem-4212	95	11	,	,	PUNCT
dem-4212	95	12	the	the	DET
dem-4212	95	13	null	null	ADJ
dem-4212	95	14	hypothesis	hypothesis	NOUN
dem-4212	95	15	whereby	whereby	SCONJ
dem-4212	95	16	there	there	PRON
dem-4212	95	17	is	be	VERB
dem-4212	95	18	no	no	DET
dem-4212	95	19	autocorrelation	autocorrelation	NOUN
dem-4212	95	20	is	be	AUX
dem-4212	95	21	definitely	definitely	ADV
dem-4212	95	22	rejected	reject	VERB
dem-4212	95	23	for	for	ADP
dem-4212	95	24	all	all	DET
dem-4212	95	25	three	three	NUM
dem-4212	95	26	companies	company	NOUN
dem-4212	95	27	.	.	PUNCT
dem-4212	96	1	duration	duration	NOUN
dem-4212	96	2	autocorrelation	autocorrelation	NOUN
dem-4212	96	3	is	be	AUX
dem-4212	96	4	thus	thus	ADV
dem-4212	96	5	extremely	extremely	ADV
dem-4212	96	6	strong	strong	ADJ
dem-4212	96	7	.	.	PUNCT
dem-4212	97	1	figure	figure	NOUN
dem-4212	97	2	1	1	NUM
dem-4212	97	3	.	.	PUNCT
dem-4212	97	4	autocorrelation	autocorrelation	NOUN
dem-4212	97	5	functions	function	NOUN
dem-4212	97	6	of	of	ADP
dem-4212	97	7	transaction	transaction	NOUN
dem-4212	97	8	durations	duration	NOUN
dem-4212	97	9	for	for	ADP
dem-4212	97	10	cez	cez	NOUN
dem-4212	97	11	,	,	PUNCT
dem-4212	97	12	agora	agora	NOUN
dem-4212	97	13	and	and	CCONJ
dem-4212	97	14	tpsa	tpsa	NOUN
dem-4212	97	15	graphs	graph	NOUN
dem-4212	97	16	representing	represent	VERB
dem-4212	97	17	the	the	DET
dem-4212	97	18	autocorrelation	autocorrelation	NOUN
dem-4212	97	19	function	function	NOUN
dem-4212	97	20	of	of	ADP
dem-4212	97	21	the	the	DET
dem-4212	97	22	durations	duration	NOUN
dem-4212	97	23	for	for	ADP
dem-4212	97	24	the	the	DET
dem-4212	97	25	companies	company	NOUN
dem-4212	97	26	in	in	ADP
dem-4212	97	27	question	question	NOUN
dem-4212	97	28	are	be	AUX
dem-4212	97	29	to	to	PART
dem-4212	97	30	be	be	AUX
dem-4212	97	31	found	find	VERB
dem-4212	97	32	in	in	ADP
dem-4212	97	33	figure	figure	NOUN
dem-4212	97	34	1	1	NUM
dem-4212	97	35	.	.	PUNCT
dem-4212	98	1	regardless	regardless	ADV
dem-4212	98	2	of	of	ADP
dem-4212	98	3	the	the	DET
dem-4212	98	4	company	company	NOUN
dem-4212	98	5	,	,	PUNCT
dem-4212	98	6	the	the	DET
dem-4212	98	7	first	first	ADJ
dem-4212	98	8	values	value	NOUN
dem-4212	98	9	of	of	ADP
dem-4212	98	10	the	the	DET
dem-4212	98	11	autocorrelation	autocorrelation	NOUN
dem-4212	98	12	function	function	NOUN
dem-4212	98	13	are	be	AUX
dem-4212	98	14	surprisingly	surprisingly	ADV
dem-4212	98	15	low	low	ADJ
dem-4212	98	16	and	and	CCONJ
dem-4212	98	17	stand	stand	VERB
dem-4212	98	18	at	at	ADP
dem-4212	98	19	around	around	ADP
dem-4212	98	20	0.22	0.22	NUM
dem-4212	98	21	.	.	PUNCT
dem-4212	99	1	for	for	ADP
dem-4212	99	2	cez	cez	NOUN
dem-4212	99	3	shares	share	NOUN
dem-4212	99	4	the	the	DET
dem-4212	99	5	acf	acf	PROPN
dem-4212	99	6	function	function	NOUN
dem-4212	99	7	fairly	fairly	ADV
dem-4212	99	8	soon	soon	ADV
dem-4212	99	9	shrinks	shrink	VERB
dem-4212	99	10	to	to	ADP
dem-4212	99	11	zero	zero	NUM
dem-4212	99	12	for	for	ADP
dem-4212	99	13	the	the	DET
dem-4212	99	14	first	first	ADJ
dem-4212	99	15	several	several	ADJ
dem-4212	99	16	dozen	dozen	NOUN
dem-4212	99	17	delays	delay	NOUN
dem-4212	99	18	,	,	PUNCT
dem-4212	99	19	only	only	ADV
dem-4212	99	20	to	to	PART
dem-4212	99	21	level	level	VERB
dem-4212	99	22	off	off	ADP
dem-4212	99	23	.	.	PUNCT
dem-4212	100	1	as	as	ADV
dem-4212	100	2	far	far	ADV
dem-4212	100	3	as	as	SCONJ
dem-4212	100	4	tpsa	tpsa	NOUN
dem-4212	100	5	shares	share	NOUN
dem-4212	100	6	are	be	AUX
dem-4212	100	7	concerned	concern	VERB
dem-4212	100	8	,	,	PUNCT
dem-4212	100	9	the	the	DET
dem-4212	100	10	autocorrelation	autocorrelation	NOUN
dem-4212	100	11	function	function	NOUN
dem-4212	100	12	takes	take	VERB
dem-4212	100	13	much	much	ADV
dem-4212	100	14	more	more	ADJ
dem-4212	100	15	time	time	NOUN
dem-4212	100	16	to	to	PART
dem-4212	100	17	decrease	decrease	VERB
dem-4212	100	18	,	,	PUNCT
dem-4212	100	19	approximately	approximately	ADV
dem-4212	100	20	at	at	ADP
dem-4212	100	21	hyperbolic	hyperbolic	ADJ
dem-4212	100	22	speed	speed	NOUN
dem-4212	100	23	(	(	PUNCT
dem-4212	100	24	rate	rate	NOUN
dem-4212	100	25	)	)	PUNCT
dem-4212	100	26	,	,	PUNCT
dem-4212	100	27	which	which	PRON
dem-4212	100	28	is	be	AUX
dem-4212	100	29	typical	typical	ADJ
dem-4212	100	30	of	of	ADP
dem-4212	100	31	long	long	ADJ
dem-4212	100	32	memory	memory	NOUN
dem-4212	100	33	processes	process	NOUN
dem-4212	100	34	.	.	PUNCT
dem-4212	101	1	this	this	PRON
dem-4212	101	2	evidences	evidence	VERB
dem-4212	101	3	high	high	ADJ
dem-4212	101	4	„	„	PUNCT
dem-4212	101	5	stability	stability	NOUN
dem-4212	101	6	”	"	PUNCT
dem-4212	101	7	(	(	PUNCT
dem-4212	101	8	persistence	persistence	NOUN
dem-4212	101	9	)	)	PUNCT
dem-4212	101	10	of	of	ADP
dem-4212	101	11	the	the	DET
dem-4212	101	12	process	process	NOUN
dem-4212	101	13	.	.	PUNCT
dem-4212	102	1	moreover	moreover	ADV
dem-4212	102	2	,	,	PUNCT
dem-4212	102	3	the	the	DET
dem-4212	102	4	high	high	ADJ
dem-4212	102	5	values	value	NOUN
dem-4212	102	6	of	of	ADP
dem-4212	102	7	lower	low	ADJ
dem-4212	102	8	order	order	NOUN
dem-4212	102	9	autocorrelations	autocorrelation	NOUN
dem-4212	102	10	indicate	indicate	VERB
dem-4212	102	11	stronger	strong	ADJ
dem-4212	102	12	clustering	clustering	NOUN
dem-4212	102	13	of	of	ADP
dem-4212	102	14	transaction	transaction	NOUN
dem-4212	102	15	activities	activity	NOUN
dem-4212	102	16	.	.	PUNCT
dem-4212	103	1	the	the	DET
dem-4212	103	2	dynamics	dynamic	NOUN
dem-4212	103	3	of	of	ADP
dem-4212	103	4	duration	duration	NOUN
dem-4212	103	5	processes	process	NOUN
dem-4212	103	6	and	and	CCONJ
dem-4212	103	7	the	the	DET
dem-4212	103	8	effect	effect	NOUN
dem-4212	103	9	of	of	ADP
dem-4212	103	10	clustering	clustering	NOUN
dem-4212	103	11	of	of	ADP
dem-4212	103	12	transaction	transaction	NOUN
dem-4212	103	13	activities	activity	NOUN
dem-4212	103	14	may	may	AUX
dem-4212	103	15	be	be	AUX
dem-4212	103	16	noted	note	VERB
dem-4212	103	17	in	in	ADP
dem-4212	103	18	figure	figure	NOUN
dem-4212	103	19	2	2	NUM
dem-4212	103	20	containing	contain	VERB
dem-4212	103	21	graphs	graph	NOUN
dem-4212	103	22	of	of	ADP
dem-4212	103	23	the	the	DET
dem-4212	103	24	series	series	NOUN
dem-4212	103	25	of	of	ADP
dem-4212	103	26	the	the	DET
dem-4212	103	27	first	first	ADJ
dem-4212	103	28	5000	5000	NUM
dem-4212	103	29	observations	observation	NOUN
dem-4212	103	30	.	.	PUNCT
dem-4212	104	1	acf	acf	PROPN
dem-4212	104	2	cez	cez	PROPN
dem-4212	104	3	-0,05	-0,05	PROPN
dem-4212	104	4	0,00	0,00	PROPN
dem-4212	104	5	0,05	0,05	NUM
dem-4212	104	6	0,10	0,10	NOUN
dem-4212	105	1	0,15	0,15	NUM
dem-4212	105	2	0,20	0,20	NUM
dem-4212	106	1	0,25	0,25	NOUN
dem-4212	106	2	0	0	NUM
dem-4212	106	3	100	100	NUM
dem-4212	106	4	200	200	NUM
dem-4212	106	5	300	300	NUM
dem-4212	106	6	400	400	NUM
dem-4212	106	7	500	500	NUM
dem-4212	106	8	lags	lag	VERB
dem-4212	106	9	acf	acf	PROPN
dem-4212	106	10	agora	agora	PROPN
dem-4212	106	11	-0,05	-0,05	PROPN
dem-4212	106	12	0,00	0,00	PROPN
dem-4212	106	13	0,05	0,05	NUM
dem-4212	106	14	0,10	0,10	NOUN
dem-4212	107	1	0,15	0,15	NUM
dem-4212	107	2	0,20	0,20	NUM
dem-4212	108	1	0,25	0,25	NOUN
dem-4212	108	2	0	0	NUM
dem-4212	108	3	100	100	NUM
dem-4212	108	4	200	200	NUM
dem-4212	108	5	300	300	NUM
dem-4212	108	6	400	400	NUM
dem-4212	108	7	500	500	NUM
dem-4212	108	8	lags	lag	VERB
dem-4212	108	9	acf	acf	PROPN
dem-4212	108	10	tpsa	tpsa	PROPN
dem-4212	108	11	-0,05	-0,05	PUNCT
dem-4212	108	12	0,00	0,00	PROPN
dem-4212	108	13	0,05	0,05	NUM
dem-4212	108	14	0,10	0,10	NOUN
dem-4212	109	1	0,15	0,15	NUM
dem-4212	109	2	0,20	0,20	NUM
dem-4212	110	1	0,25	0,25	NOUN
dem-4212	110	2	0	0	NUM
dem-4212	110	3	100	100	NUM
dem-4212	110	4	200	200	NUM
dem-4212	110	5	300	300	NUM
dem-4212	110	6	400	400	NUM
dem-4212	110	7	500	500	NUM
dem-4212	110	8	lags	lag	VERB
dem-4212	110	9	intraday	intraday	NOUN
dem-4212	110	10	seasonality	seasonality	NOUN
dem-4212	110	11	in	in	ADP
dem-4212	110	12	analysis	analysis	NOUN
dem-4212	110	13	of	of	ADP
dem-4212	110	14	uhf	uhf	PROPN
dem-4212	110	15	financial	financial	ADJ
dem-4212	110	16	data	datum	NOUN
dem-4212	110	17	:	:	PUNCT
dem-4212	110	18	models	model	NOUN
dem-4212	110	19	…	…	PUNCT
dem-4212	110	20	135	135	NUM
dem-4212	110	21	figure	figure	NOUN
dem-4212	110	22	2	2	NUM
dem-4212	110	23	.	.	PUNCT
dem-4212	110	24	plots	plot	NOUN
dem-4212	110	25	of	of	ADP
dem-4212	110	26	trade	trade	NOUN
dem-4212	110	27	durations	duration	NOUN
dem-4212	110	28	for	for	ADP
dem-4212	110	29	agora	agora	INTJ
dem-4212	110	30	and	and	CCONJ
dem-4212	110	31	tpsa	tpsa	NOUN
dem-4212	110	32	–	–	PUNCT
dem-4212	110	33	first	first	ADJ
dem-4212	110	34	5000	5000	NUM
dem-4212	110	35	observations	observation	NOUN
dem-4212	110	36	the	the	DET
dem-4212	110	37	existence	existence	NOUN
dem-4212	110	38	of	of	ADP
dem-4212	110	39	very	very	ADV
dem-4212	110	40	powerful	powerful	ADJ
dem-4212	110	41	autocorrelation	autocorrelation	NOUN
dem-4212	110	42	of	of	ADP
dem-4212	110	43	durations	duration	NOUN
dem-4212	110	44	may	may	AUX
dem-4212	110	45	result	result	VERB
dem-4212	110	46	from	from	ADP
dem-4212	110	47	the	the	DET
dem-4212	110	48	midday	midday	NOUN
dem-4212	110	49	seasonality	seasonality	NOUN
dem-4212	110	50	of	of	ADP
dem-4212	110	51	transactional	transactional	ADJ
dem-4212	110	52	activity	activity	NOUN
dem-4212	110	53	.	.	PUNCT
dem-4212	111	1	with	with	ADP
dem-4212	111	2	this	this	PRON
dem-4212	111	3	in	in	ADP
dem-4212	111	4	mind	mind	NOUN
dem-4212	111	5	,	,	PUNCT
dem-4212	111	6	patterns	pattern	NOUN
dem-4212	111	7	of	of	ADP
dem-4212	111	8	intraday	intraday	NOUN
dem-4212	111	9	seasonality	seasonality	NOUN
dem-4212	111	10	were	be	AUX
dem-4212	111	11	estimated	estimate	VERB
dem-4212	111	12	by	by	ADP
dem-4212	111	13	means	mean	NOUN
dem-4212	111	14	of	of	ADP
dem-4212	111	15	four	four	NUM
dem-4212	111	16	methods	method	NOUN
dem-4212	111	17	,	,	PUNCT
dem-4212	111	18	and	and	CCONJ
dem-4212	111	19	further	far	ADV
dem-4212	111	20	verified	verify	VERB
dem-4212	111	21	empirically	empirically	ADV
dem-4212	111	22	to	to	PART
dem-4212	111	23	determine	determine	VERB
dem-4212	111	24	whether	whether	SCONJ
dem-4212	111	25	the	the	DET
dem-4212	111	26	method	method	NOUN
dem-4212	111	27	selected	select	VERB
dem-4212	111	28	translates	translate	VERB
dem-4212	111	29	into	into	ADP
dem-4212	111	30	effective	effective	ADJ
dem-4212	111	31	elimination	elimination	NOUN
dem-4212	111	32	of	of	ADP
dem-4212	111	33	high	high	ADJ
dem-4212	111	34	autocorrelation	autocorrelation	NOUN
dem-4212	111	35	of	of	ADP
dem-4212	111	36	the	the	DET
dem-4212	111	37	series	series	NOUN
dem-4212	111	38	under	under	ADP
dem-4212	111	39	research	research	NOUN
dem-4212	111	40	.	.	PUNCT
dem-4212	112	1	the	the	DET
dem-4212	112	2	following	follow	VERB
dem-4212	112	3	approaches	approach	NOUN
dem-4212	112	4	,	,	PUNCT
dem-4212	112	5	described	describe	VERB
dem-4212	112	6	extensively	extensively	ADV
dem-4212	112	7	in	in	ADP
dem-4212	112	8	point	point	NOUN
dem-4212	112	9	3	3	NUM
dem-4212	112	10	,	,	PUNCT
dem-4212	112	11	were	be	AUX
dem-4212	112	12	applied	apply	VERB
dem-4212	112	13	:	:	PUNCT
dem-4212	112	14	1	1	X
dem-4212	112	15	.	.	X
dem-4212	112	16	nadaraya	nadaraya	PROPN
dem-4212	112	17	-	-	PUNCT
dem-4212	112	18	watson	watson	PROPN
dem-4212	112	19	estimator	estimator	NOUN
dem-4212	112	20	of	of	ADP
dem-4212	112	21	regression	regression	NOUN
dem-4212	112	22	of	of	ADP
dem-4212	112	23	the	the	DET
dem-4212	112	24	duration	duration	NOUN
dem-4212	112	25	on	on	ADP
dem-4212	112	26	the	the	DET
dem-4212	112	27	time	time	NOUN
dem-4212	112	28	of	of	ADP
dem-4212	112	29	the	the	DET
dem-4212	112	30	day	day	NOUN
dem-4212	112	31	,	,	PUNCT
dem-4212	112	32	determined	determine	VERB
dem-4212	112	33	separately	separately	ADV
dem-4212	112	34	for	for	ADP
dem-4212	112	35	each	each	DET
dem-4212	112	36	day	day	NOUN
dem-4212	112	37	of	of	ADP
dem-4212	112	38	the	the	DET
dem-4212	112	39	week	week	NOUN
dem-4212	112	40	(	(	PUNCT
dem-4212	112	41	nw_days	nw_day	NOUN
dem-4212	112	42	)	)	PUNCT
dem-4212	112	43	;	;	PUNCT
dem-4212	112	44	2	2	X
dem-4212	112	45	.	.	X
dem-4212	112	46	nadaraya	nadaraya	PROPN
dem-4212	112	47	-	-	PUNCT
dem-4212	112	48	watson	watson	PROPN
dem-4212	112	49	estimator	estimator	NOUN
dem-4212	112	50	of	of	ADP
dem-4212	112	51	regression	regression	NOUN
dem-4212	112	52	of	of	ADP
dem-4212	112	53	the	the	DET
dem-4212	112	54	duration	duration	NOUN
dem-4212	112	55	on	on	ADP
dem-4212	112	56	the	the	DET
dem-4212	112	57	time	time	NOUN
dem-4212	112	58	of	of	ADP
dem-4212	112	59	the	the	DET
dem-4212	112	60	day	day	NOUN
dem-4212	112	61	,	,	PUNCT
dem-4212	112	62	ignoring	ignore	VERB
dem-4212	112	63	possible	possible	ADJ
dem-4212	112	64	seasonality	seasonality	NOUN
dem-4212	112	65	over	over	ADP
dem-4212	112	66	a	a	DET
dem-4212	112	67	week	week	NOUN
dem-4212	112	68	-	-	PUNCT
dem-4212	112	69	long	long	ADJ
dem-4212	112	70	period	period	NOUN
dem-4212	112	71	(	(	PUNCT
dem-4212	112	72	nw	nw	NOUN
dem-4212	112	73	)	)	PUNCT
dem-4212	112	74	;	;	PUNCT
dem-4212	112	75	3	3	X
dem-4212	112	76	.	.	NOUN
dem-4212	112	77	cubic	cubic	ADJ
dem-4212	112	78	splines	spline	NOUN
dem-4212	112	79	with	with	ADP
dem-4212	112	80	knots	knot	NOUN
dem-4212	112	81	on	on	ADP
dem-4212	112	82	every	every	DET
dem-4212	112	83	full	full	ADJ
dem-4212	112	84	hour	hour	NOUN
dem-4212	112	85	and	and	CCONJ
dem-4212	112	86	every	every	DET
dem-4212	112	87	half	half	ADJ
dem-4212	112	88	-	-	PUNCT
dem-4212	112	89	hour	hour	NOUN
dem-4212	112	90	of	of	ADP
dem-4212	112	91	the	the	DET
dem-4212	112	92	session	session	NOUN
dem-4212	112	93	,	,	PUNCT
dem-4212	112	94	determined	determine	VERB
dem-4212	112	95	separately	separately	ADV
dem-4212	112	96	for	for	ADP
dem-4212	112	97	each	each	DET
dem-4212	112	98	day	day	NOUN
dem-4212	112	99	of	of	ADP
dem-4212	112	100	the	the	DET
dem-4212	112	101	week	week	NOUN
dem-4212	112	102	(	(	PUNCT
dem-4212	112	103	cs_days	cs_days	PROPN
dem-4212	112	104	)	)	PUNCT
dem-4212	112	105	;	;	PUNCT
dem-4212	112	106	4	4	X
dem-4212	112	107	.	.	NOUN
dem-4212	112	108	cubic	cubic	ADJ
dem-4212	112	109	splines	spline	NOUN
dem-4212	112	110	with	with	ADP
dem-4212	112	111	knots	knot	NOUN
dem-4212	112	112	on	on	ADP
dem-4212	112	113	every	every	DET
dem-4212	112	114	full	full	ADJ
dem-4212	112	115	hour	hour	NOUN
dem-4212	112	116	and	and	CCONJ
dem-4212	112	117	every	every	DET
dem-4212	112	118	half	half	ADJ
dem-4212	112	119	-	-	PUNCT
dem-4212	112	120	hour	hour	NOUN
dem-4212	112	121	of	of	ADP
dem-4212	112	122	the	the	DET
dem-4212	112	123	session	session	NOUN
dem-4212	112	124	,	,	PUNCT
dem-4212	112	125	ignoring	ignore	VERB
dem-4212	112	126	possible	possible	ADJ
dem-4212	112	127	seasonality	seasonality	NOUN
dem-4212	112	128	over	over	ADP
dem-4212	112	129	a	a	DET
dem-4212	112	130	week	week	NOUN
dem-4212	112	131	-	-	PUNCT
dem-4212	112	132	long	long	ADJ
dem-4212	112	133	period	period	NOUN
dem-4212	112	134	(	(	PUNCT
dem-4212	112	135	cs	cs	NOUN
dem-4212	112	136	)	)	PUNCT
dem-4212	112	137	.	.	PUNCT
dem-4212	113	1	in	in	ADP
dem-4212	113	2	the	the	DET
dem-4212	113	3	event	event	NOUN
dem-4212	113	4	of	of	ADP
dem-4212	113	5	kernel	kernel	PROPN
dem-4212	113	6	estimators	estimator	NOUN
dem-4212	113	7	,	,	PUNCT
dem-4212	113	8	use	use	NOUN
dem-4212	113	9	was	be	AUX
dem-4212	113	10	made	make	VERB
dem-4212	113	11	of	of	ADP
dem-4212	113	12	the	the	DET
dem-4212	113	13	quartic	quartic	ADJ
dem-4212	113	14	kernel	kernel	NOUN
dem-4212	113	15	with	with	ADP
dem-4212	113	16	the	the	DET
dem-4212	113	17	optimal	optimal	ADJ
dem-4212	113	18	bandwidth	bandwidth	NOUN
dem-4212	113	19	of	of	ADP
dem-4212	113	20	5/178,2	5/178,2	NUM
dem-4212	113	21	−sn	−sn	PRON
dem-4212	113	22	.	.	PUNCT
dem-4212	114	1	next	next	ADV
dem-4212	114	2	,	,	PUNCT
dem-4212	114	3	after	after	SCONJ
dem-4212	114	4	the	the	DET
dem-4212	114	5	intraday	intraday	NOUN
dem-4212	114	6	seasonality	seasonality	NOUN
dem-4212	114	7	factor	factor	NOUN
dem-4212	114	8	was	be	AUX
dem-4212	114	9	estimated	estimate	VERB
dem-4212	114	10	,	,	PUNCT
dem-4212	114	11	durations	duration	NOUN
dem-4212	114	12	purged	purge	VERB
dem-4212	114	13	of	of	ADP
dem-4212	114	14	the	the	DET
dem-4212	114	15	seasonality	seasonality	NOUN
dem-4212	114	16	effect	effect	NOUN
dem-4212	114	17	were	be	AUX
dem-4212	114	18	determined	determine	VERB
dem-4212	114	19	pursuant	pursuant	ADJ
dem-4212	114	20	to	to	ADP
dem-4212	114	21	formula	formula	NOUN
dem-4212	114	22	(	(	PUNCT
dem-4212	114	23	1	1	NUM
dem-4212	114	24	)	)	PUNCT
dem-4212	114	25	.	.	PUNCT
dem-4212	115	1	all	all	DET
dem-4212	115	2	algorithms	algorithm	NOUN
dem-4212	115	3	and	and	CCONJ
dem-4212	115	4	procedures	procedure	NOUN
dem-4212	115	5	were	be	AUX
dem-4212	115	6	implemented	implement	VERB
dem-4212	115	7	using	use	VERB
dem-4212	115	8	the	the	DET
dem-4212	115	9	gauss	gauss	ADJ
dem-4212	115	10	software	software	NOUN
dem-4212	115	11	.	.	PUNCT
dem-4212	116	1	figure	figure	VERB
dem-4212	116	2	3	3	NUM
dem-4212	116	3	.	.	NOUN
dem-4212	116	4	intraday	intraday	NOUN
dem-4212	116	5	seasonality	seasonality	NOUN
dem-4212	116	6	patterns	pattern	NOUN
dem-4212	116	7	for	for	ADP
dem-4212	116	8	cez	cez	PROPN
dem-4212	116	9	,	,	PUNCT
dem-4212	116	10	agora	agora	PROPN
dem-4212	116	11	and	and	CCONJ
dem-4212	116	12	tpsa	tpsa	NOUN
dem-4212	116	13	figure	figure	NOUN
dem-4212	116	14	3	3	NUM
dem-4212	116	15	depicts	depict	VERB
dem-4212	116	16	the	the	DET
dem-4212	116	17	shape	shape	NOUN
dem-4212	116	18	of	of	ADP
dem-4212	116	19	intraday	intraday	NOUN
dem-4212	116	20	seasonality	seasonality	NOUN
dem-4212	116	21	patterns	pattern	NOUN
dem-4212	116	22	(	(	PUNCT
dem-4212	116	23	nw	nw	NOUN
dem-4212	116	24	and	and	CCONJ
dem-4212	116	25	cs	cs	PROPN
dem-4212	116	26	methods	method	NOUN
dem-4212	116	27	)	)	PUNCT
dem-4212	116	28	for	for	ADP
dem-4212	116	29	the	the	DET
dem-4212	116	30	three	three	NUM
dem-4212	116	31	companies	company	NOUN
dem-4212	116	32	under	under	ADP
dem-4212	116	33	analysis	analysis	NOUN
dem-4212	116	34	,	,	PUNCT
dem-4212	116	35	without	without	ADP
dem-4212	116	36	regard	regard	NOUN
dem-4212	116	37	for	for	ADP
dem-4212	116	38	the	the	DET
dem-4212	116	39	effect	effect	NOUN
dem-4212	116	40	that	that	SCONJ
dem-4212	116	41	the	the	DET
dem-4212	116	42	different	different	ADJ
dem-4212	116	43	days	day	NOUN
dem-4212	116	44	of	of	ADP
dem-4212	116	45	the	the	DET
dem-4212	116	46	week	week	NOUN
dem-4212	116	47	have	have	VERB
dem-4212	116	48	.	.	PUNCT
dem-4212	117	1	figure	figure	VERB
dem-4212	117	2	4	4	NUM
dem-4212	117	3	shows	show	VERB
dem-4212	117	4	plots	plot	NOUN
dem-4212	117	5	of	of	ADP
dem-4212	117	6	the	the	DET
dem-4212	117	7	estimated	estimate	VERB
dem-4212	117	8	time	time	NOUN
dem-4212	117	9	-	-	PUNCT
dem-4212	117	10	of	of	ADP
dem-4212	117	11	-	-	PUNCT
dem-4212	117	12	day	day	NOUN
dem-4212	117	13	functions	function	NOUN
dem-4212	117	14	for	for	ADP
dem-4212	117	15	subsequent	subsequent	ADJ
dem-4212	117	16	days	day	NOUN
dem-4212	117	17	of	of	ADP
dem-4212	117	18	the	the	DET
dem-4212	117	19	week	week	NOUN
dem-4212	117	20	for	for	ADP
dem-4212	117	21	cez	cez	PROPN
dem-4212	117	22	,	,	PUNCT
dem-4212	117	23	agora	agora	PROPN
dem-4212	117	24	and	and	CCONJ
dem-4212	117	25	02000	02000	NUM
dem-4212	117	26	0	0	NUM
dem-4212	117	27	2000	2000	NUM
dem-4212	117	28	4000	4000	NUM
dem-4212	117	29	s	s	VERB
dem-4212	117	30	e	e	NOUN
dem-4212	117	31	c	c	NOUN
dem-4212	117	32	o	o	PROPN
dem-4212	117	33	observations	observation	NOUN
dem-4212	117	34	trade	trade	NOUN
dem-4212	117	35	durations	duration	NOUN
dem-4212	117	36	agora	agora	ADP
dem-4212	117	37	01000	01000	NUM
dem-4212	117	38	-1000	-1000	NUM
dem-4212	118	1	1000	1000	NUM
dem-4212	118	2	3000	3000	NUM
dem-4212	118	3	5000	5000	NUM
dem-4212	118	4	s	s	NOUN
dem-4212	118	5	e	e	NOUN
dem-4212	118	6	c	c	NOUN
dem-4212	118	7	o	o	PROPN
dem-4212	118	8	observations	observation	NOUN
dem-4212	118	9	trade	trade	NOUN
dem-4212	118	10	durations	duration	NOUN
dem-4212	118	11	tpsa	tpsa	NOUN
dem-4212	118	12	-20180	-20180	NOUN
dem-4212	119	1	9s	9s	NUM
dem-4212	119	2	e	e	NOUN
dem-4212	119	3	c	c	NOUN
dem-4212	119	4	o	o	NOUN
dem-4212	119	5	hours	hour	NOUN
dem-4212	119	6	intraday	intraday	NOUN
dem-4212	119	7	seasonality	seasonality	NOUN
dem-4212	119	8	cez	cez	PROPN
dem-4212	119	9	n	n	PROPN
dem-4212	119	10	w	w	NOUN
dem-4212	119	11	c	c	NOUN
dem-4212	119	12	s	s	NOUN
dem-4212	119	13	-20180	-20180	NOUN
dem-4212	119	14	9s	9s	NUM
dem-4212	119	15	e	e	NOUN
dem-4212	119	16	c	c	NOUN
dem-4212	119	17	o	o	NOUN
dem-4212	119	18	hours	hour	NOUN
dem-4212	119	19	intraday	intraday	NOUN
dem-4212	119	20	seasonality	seasonality	NOUN
dem-4212	119	21	agora	agora	INTJ
dem-4212	119	22	n	n	INTJ
dem-4212	119	23	w	w	NOUN
dem-4212	119	24	c	c	NOUN
dem-4212	119	25	s	s	NOUN
dem-4212	119	26	0	0	NUM
dem-4212	119	27	9s	9s	NUM
dem-4212	119	28	e	e	NOUN
dem-4212	119	29	c	c	NOUN
dem-4212	119	30	o	o	NOUN
dem-4212	119	31	hours	hour	NOUN
dem-4212	119	32	intraday	intraday	NOUN
dem-4212	119	33	seasonality	seasonality	NOUN
dem-4212	119	34	tpsa	tpsa	PROPN
dem-4212	120	1	n	n	DET
dem-4212	120	2	w	w	NOUN
dem-4212	120	3	c	c	NOUN
dem-4212	120	4	s	s	PART
dem-4212	120	5	roman	roman	ADJ
dem-4212	120	6	huptas	hupta	NOUN
dem-4212	120	7	136	136	NUM
dem-4212	120	8	tpsa	tpsa	NOUN
dem-4212	120	9	respectively	respectively	ADV
dem-4212	120	10	,	,	PUNCT
dem-4212	120	11	obtained	obtain	VERB
dem-4212	120	12	by	by	ADP
dem-4212	120	13	means	mean	NOUN
dem-4212	120	14	of	of	ADP
dem-4212	120	15	the	the	DET
dem-4212	120	16	kernel	kernel	PROPN
dem-4212	120	17	estimator	estimator	NOUN
dem-4212	120	18	(	(	PUNCT
dem-4212	120	19	nw	nw	NOUN
dem-4212	120	20	)	)	PUNCT
dem-4212	120	21	and	and	CCONJ
dem-4212	120	22	cubic	cubic	ADJ
dem-4212	120	23	splines	spline	NOUN
dem-4212	120	24	(	(	PUNCT
dem-4212	120	25	cs	cs	NOUN
dem-4212	120	26	)	)	PUNCT
dem-4212	120	27	.	.	PUNCT
dem-4212	121	1	figure	figure	VERB
dem-4212	121	2	4	4	NUM
dem-4212	121	3	.	.	NOUN
dem-4212	121	4	intraday	intraday	NOUN
dem-4212	121	5	seasonality	seasonality	NOUN
dem-4212	121	6	patterns	pattern	NOUN
dem-4212	121	7	for	for	ADP
dem-4212	121	8	the	the	DET
dem-4212	121	9	days	day	NOUN
dem-4212	121	10	of	of	ADP
dem-4212	121	11	the	the	DET
dem-4212	121	12	week	week	NOUN
dem-4212	121	13	for	for	ADP
dem-4212	121	14	cez	cez	PROPN
dem-4212	121	15	,	,	PUNCT
dem-4212	121	16	agora	agora	PROPN
dem-4212	121	17	,	,	PUNCT
dem-4212	121	18	tpsa	tpsa	VERB
dem-4212	121	19	the	the	DET
dem-4212	121	20	graphs	graph	NOUN
dem-4212	121	21	presenting	present	VERB
dem-4212	121	22	the	the	DET
dem-4212	121	23	estimated	estimate	VERB
dem-4212	121	24	time	time	NOUN
dem-4212	121	25	-	-	PUNCT
dem-4212	121	26	of	of	ADP
dem-4212	121	27	-	-	PUNCT
dem-4212	121	28	day	day	NOUN
dem-4212	121	29	functions	function	NOUN
dem-4212	121	30	have	have	VERB
dem-4212	121	31	the	the	DET
dem-4212	121	32	shape	shape	NOUN
dem-4212	121	33	of	of	ADP
dem-4212	121	34	the	the	DET
dem-4212	121	35	letter	letter	NOUN
dem-4212	121	36	u	u	NOUN
dem-4212	121	37	turned	turn	VERB
dem-4212	121	38	upside	upside	ADV
dem-4212	121	39	down	down	ADV
dem-4212	121	40	and	and	CCONJ
dem-4212	121	41	reveal	reveal	VERB
dem-4212	121	42	unequivocally	unequivocally	ADV
dem-4212	121	43	that	that	SCONJ
dem-4212	121	44	durations	duration	NOUN
dem-4212	121	45	are	be	AUX
dem-4212	121	46	subject	subject	ADJ
dem-4212	121	47	to	to	ADP
dem-4212	121	48	daily	daily	ADJ
dem-4212	121	49	seasonality	seasonality	NOUN
dem-4212	121	50	.	.	PUNCT
dem-4212	122	1	the	the	DET
dem-4212	122	2	durations	duration	NOUN
dem-4212	122	3	between	between	ADP
dem-4212	122	4	transactions	transaction	NOUN
dem-4212	122	5	are	be	AUX
dem-4212	122	6	markedly	markedly	ADV
dem-4212	122	7	shorter	short	ADJ
dem-4212	122	8	after	after	ADP
dem-4212	122	9	the	the	DET
dem-4212	122	10	opening	opening	NOUN
dem-4212	122	11	and	and	CCONJ
dem-4212	122	12	before	before	ADP
dem-4212	122	13	the	the	DET
dem-4212	122	14	close	close	NOUN
dem-4212	122	15	of	of	ADP
dem-4212	122	16	the	the	DET
dem-4212	122	17	session	session	NOUN
dem-4212	122	18	than	than	ADP
dem-4212	122	19	at	at	ADP
dem-4212	122	20	midday	midday	NOUN
dem-4212	122	21	.	.	PUNCT
dem-4212	123	1	the	the	DET
dem-4212	123	2	extent	extent	NOUN
dem-4212	123	3	of	of	ADP
dem-4212	123	4	trading	trading	NOUN
dem-4212	123	5	activity	activity	NOUN
dem-4212	123	6	between	between	ADP
dem-4212	123	7	12:00	12:00	NUM
dem-4212	123	8	a.m.	a.m.	NOUN
dem-4212	123	9	and	and	CCONJ
dem-4212	123	10	2:00	2:00	NUM
dem-4212	123	11	p.m.	p.m.	NOUN
dem-4212	123	12	is	be	AUX
dem-4212	123	13	noticeably	noticeably	ADV
dem-4212	123	14	less	less	ADJ
dem-4212	123	15	,	,	PUNCT
dem-4212	123	16	due	due	ADJ
dem-4212	123	17	,	,	PUNCT
dem-4212	123	18	amongst	amongst	ADP
dem-4212	123	19	others	other	NOUN
dem-4212	123	20	,	,	PUNCT
dem-4212	123	21	to	to	ADP
dem-4212	123	22	the	the	DET
dem-4212	123	23	lunchtime	lunchtime	ADJ
dem-4212	123	24	effect	effect	NOUN
dem-4212	123	25	.	.	PUNCT
dem-4212	124	1	it	it	PRON
dem-4212	124	2	should	should	AUX
dem-4212	124	3	be	be	AUX
dem-4212	124	4	noted	note	VERB
dem-4212	124	5	that	that	SCONJ
dem-4212	124	6	in	in	ADP
dem-4212	124	7	the	the	DET
dem-4212	124	8	case	case	NOUN
dem-4212	124	9	of	of	ADP
dem-4212	124	10	companies	company	NOUN
dem-4212	124	11	listed	list	VERB
dem-4212	124	12	on	on	ADP
dem-4212	124	13	the	the	DET
dem-4212	124	14	american	american	ADJ
dem-4212	124	15	and	and	CCONJ
dem-4212	124	16	west	west	ADJ
dem-4212	124	17	european	european	ADJ
dem-4212	124	18	stock	stock	NOUN
dem-4212	124	19	markets	market	NOUN
dem-4212	124	20	,	,	PUNCT
dem-4212	124	21	the	the	DET
dem-4212	124	22	effect	effect	NOUN
dem-4212	124	23	is	be	AUX
dem-4212	124	24	less	less	ADV
dem-4212	124	25	manifest	manifest	ADJ
dem-4212	124	26	than	than	ADP
dem-4212	124	27	in	in	ADP
dem-4212	124	28	the	the	DET
dem-4212	124	29	case	case	NOUN
dem-4212	124	30	of	of	ADP
dem-4212	124	31	their	their	PRON
dem-4212	124	32	australian	australian	ADJ
dem-4212	124	33	counterpart	counterpart	NOUN
dem-4212	124	34	,	,	PUNCT
dem-4212	124	35	where	where	SCONJ
dem-4212	124	36	the	the	DET
dem-4212	124	37	effect	effect	NOUN
dem-4212	124	38	is	be	AUX
dem-4212	124	39	more	more	ADV
dem-4212	124	40	pronounced	pronounce	VERB
dem-4212	124	41	,	,	PUNCT
dem-4212	124	42	i.e.	i.e.	X
dem-4212	124	43	the	the	DET
dem-4212	124	44	hump	hump	NOUN
dem-4212	124	45	in	in	ADP
dem-4212	124	46	the	the	DET
dem-4212	124	47	graph	graph	NOUN
dem-4212	124	48	is	be	AUX
dem-4212	124	49	manifestly	manifestly	ADV
dem-4212	124	50	spikier	spiky	ADJ
dem-4212	124	51	(	(	PUNCT
dem-4212	124	52	cf	cf	NOUN
dem-4212	124	53	.	.	PUNCT
dem-4212	125	1	(	(	PUNCT
dem-4212	125	2	bauwens	bauwen	NOUN
dem-4212	125	3	,	,	PUNCT
dem-4212	125	4	giot	giot	NOUN
dem-4212	125	5	,	,	PUNCT
dem-4212	125	6	2001	2001	NUM
dem-4212	125	7	;	;	PUNCT
dem-4212	125	8	hautsch	hautsch	NOUN
dem-4212	125	9	2004	2004	NUM
dem-4212	125	10	)	)	PUNCT
dem-4212	125	11	)	)	PUNCT
dem-4212	125	12	.	.	PUNCT
dem-4212	126	1	similarly	similarly	ADV
dem-4212	126	2	,	,	PUNCT
dem-4212	126	3	trading	trading	NOUN
dem-4212	126	4	activity	activity	NOUN
dem-4212	126	5	at	at	ADP
dem-4212	126	6	the	the	DET
dem-4212	126	7	opening	opening	NOUN
dem-4212	126	8	of	of	ADP
dem-4212	126	9	the	the	DET
dem-4212	126	10	session	session	NOUN
dem-4212	126	11	is	be	AUX
dem-4212	126	12	more	more	ADV
dem-4212	126	13	intense	intense	ADJ
dem-4212	126	14	as	as	SCONJ
dem-4212	126	15	traders	trader	NOUN
dem-4212	126	16	begin	begin	VERB
dem-4212	126	17	to	to	PART
dem-4212	126	18	accommodate	accommodate	VERB
dem-4212	126	19	the	the	DET
dem-4212	126	20	information	information	NOUN
dem-4212	126	21	of	of	ADP
dem-4212	126	22	the	the	DET
dem-4212	126	23	night	night	NOUN
dem-4212	126	24	before	before	ADV
dem-4212	126	25	(	(	PUNCT
dem-4212	126	26	macroeconomic	macroeconomic	ADJ
dem-4212	126	27	data	datum	NOUN
dem-4212	126	28	,	,	PUNCT
dem-4212	126	29	etc	etc	X
dem-4212	126	30	)	)	PUNCT
dem-4212	126	31	.	.	PUNCT
dem-4212	127	1	trading	trading	NOUN
dem-4212	127	2	activity	activity	NOUN
dem-4212	127	3	at	at	ADP
dem-4212	127	4	the	the	DET
dem-4212	127	5	close	close	NOUN
dem-4212	127	6	of	of	ADP
dem-4212	127	7	trade	trade	NOUN
dem-4212	127	8	can	can	AUX
dem-4212	127	9	be	be	AUX
dem-4212	127	10	explained	explain	VERB
dem-4212	127	11	in	in	ADP
dem-4212	127	12	terms	term	NOUN
dem-4212	127	13	of	of	ADP
dem-4212	127	14	some	some	DET
dem-4212	127	15	investors	investor	NOUN
dem-4212	127	16	’	'	PUNCT
dem-4212	127	17	attempt	attempt	VERB
dem-4212	127	18	to	to	PART
dem-4212	127	19	close	close	VERB
dem-4212	127	20	their	their	PRON
dem-4212	127	21	open	open	ADJ
dem-4212	127	22	positions	position	NOUN
dem-4212	127	23	.	.	PUNCT
dem-4212	128	1	it	it	PRON
dem-4212	128	2	is	be	AUX
dem-4212	128	3	worth	worth	ADJ
dem-4212	128	4	noting	note	VERB
dem-4212	128	5	that	that	SCONJ
dem-4212	128	6	intraday	intraday	NOUN
dem-4212	128	7	seasonality	seasonality	NOUN
dem-4212	128	8	will	will	AUX
dem-4212	128	9	vary	vary	VERB
dem-4212	128	10	from	from	ADP
dem-4212	128	11	one	one	NUM
dem-4212	128	12	day	day	NOUN
dem-4212	128	13	of	of	ADP
dem-4212	128	14	the	the	DET
dem-4212	128	15	week	week	NOUN
dem-4212	128	16	to	to	ADP
dem-4212	128	17	the	the	DET
dem-4212	128	18	next	next	ADJ
dem-4212	128	19	(	(	PUNCT
dem-4212	128	20	figure	figure	NOUN
dem-4212	128	21	4	4	NUM
dem-4212	128	22	)	)	PUNCT
dem-4212	128	23	.	.	PUNCT
dem-4212	129	1	it	it	PRON
dem-4212	129	2	seems	seem	VERB
dem-4212	129	3	that	that	SCONJ
dem-4212	129	4	regardless	regardless	ADV
dem-4212	129	5	of	of	ADP
dem-4212	129	6	the	the	DET
dem-4212	129	7	type	type	NOUN
dem-4212	129	8	of	of	ADP
dem-4212	129	9	company	company	NOUN
dem-4212	129	10	,	,	PUNCT
dem-4212	129	11	trading	trading	NOUN
dem-4212	129	12	activity	activity	NOUN
dem-4212	129	13	is	be	AUX
dem-4212	129	14	most	most	ADV
dem-4212	129	15	intense	intense	ADJ
dem-4212	129	16	on	on	ADP
dem-4212	129	17	tuesdays	tuesday	NOUN
dem-4212	129	18	and	and	CCONJ
dem-4212	129	19	wednesdays	wednesday	NOUN
dem-4212	129	20	than	than	ADP
dem-4212	129	21	on	on	ADP
dem-4212	129	22	any	any	PRON
dem-4212	129	23	of	of	ADP
dem-4212	129	24	the	the	DET
dem-4212	129	25	other	other	ADJ
dem-4212	129	26	days	day	NOUN
dem-4212	129	27	.	.	PUNCT
dem-4212	130	1	duration	duration	NOUN
dem-4212	130	2	statistics	statistic	NOUN
dem-4212	130	3	purged	purge	VERB
dem-4212	130	4	of	of	ADP
dem-4212	130	5	intraday	intraday	NOUN
dem-4212	130	6	seasonality	seasonality	NOUN
dem-4212	130	7	by	by	ADP
dem-4212	130	8	means	mean	NOUN
dem-4212	130	9	of	of	ADP
dem-4212	130	10	the	the	DET
dem-4212	130	11	four	four	NUM
dem-4212	130	12	above	above	ADV
dem-4212	130	13	-	-	PUNCT
dem-4212	130	14	named	name	VERB
dem-4212	130	15	methods	method	NOUN
dem-4212	130	16	were	be	AUX
dem-4212	130	17	included	include	VERB
dem-4212	130	18	in	in	ADP
dem-4212	130	19	table	table	NOUN
dem-4212	130	20	2	2	NUM
dem-4212	130	21	.	.	PUNCT
dem-4212	130	22	deseasonalisation	deseasonalisation	NOUN
dem-4212	130	23	of	of	ADP
dem-4212	130	24	the	the	DET
dem-4212	130	25	data	datum	NOUN
dem-4212	130	26	20220	20220	NUM
dem-4212	130	27	9s	9s	NUM
dem-4212	130	28	e	e	NOUN
dem-4212	130	29	c	c	NOUN
dem-4212	130	30	o	o	NOUN
dem-4212	130	31	hours	hour	NOUN
dem-4212	130	32	intraday	intraday	NOUN
dem-4212	130	33	seasonality	seasonality	NOUN
dem-4212	130	34	(	(	PUNCT
dem-4212	130	35	nw	nw	NOUN
dem-4212	130	36	)	)	PUNCT
dem-4212	130	37	the	the	DET
dem-4212	130	38	days	day	NOUN
dem-4212	130	39	of	of	ADP
dem-4212	130	40	the	the	DET
dem-4212	130	41	week	week	NOUN
dem-4212	130	42	agora	agora	PROPN
dem-4212	130	43	mo	mo	PROPN
dem-4212	130	44	n	n	PROPN
dem-4212	130	45	tue	tue	PROPN
dem-4212	130	46	20220	20220	NUM
dem-4212	130	47	9	9	NUM
dem-4212	130	48	s	s	NOUN
dem-4212	130	49	e	e	NOUN
dem-4212	130	50	c	c	NOUN
dem-4212	130	51	o	o	NOUN
dem-4212	130	52	hours	hour	NOUN
dem-4212	130	53	intraday	intraday	NOUN
dem-4212	130	54	seasonality	seasonality	NOUN
dem-4212	130	55	(	(	PUNCT
dem-4212	130	56	cs	cs	PROPN
dem-4212	130	57	)	)	PUNCT
dem-4212	130	58	the	the	DET
dem-4212	130	59	days	day	NOUN
dem-4212	130	60	of	of	ADP
dem-4212	130	61	the	the	DET
dem-4212	130	62	week	week	NOUN
dem-4212	130	63	agora	agora	PROPN
dem-4212	130	64	mo	mo	PROPN
dem-4212	130	65	n	n	PROPN
dem-4212	130	66	tue	tue	NOUN
dem-4212	130	67	-200	-200	NUM
dem-4212	130	68	300	300	NUM
dem-4212	130	69	9	9	NUM
dem-4212	130	70	s	s	NOUN
dem-4212	130	71	e	e	NOUN
dem-4212	130	72	c	c	NOUN
dem-4212	130	73	o	o	NOUN
dem-4212	130	74	hours	hour	NOUN
dem-4212	130	75	intraday	intraday	NOUN
dem-4212	130	76	seasonality	seasonality	NOUN
dem-4212	130	77	(	(	PUNCT
dem-4212	130	78	nw	nw	NOUN
dem-4212	130	79	)	)	PUNCT
dem-4212	130	80	the	the	DET
dem-4212	130	81	days	day	NOUN
dem-4212	130	82	of	of	ADP
dem-4212	130	83	the	the	DET
dem-4212	130	84	week	week	NOUN
dem-4212	130	85	cez	cez	PROPN
dem-4212	130	86	mo	mo	PROPN
dem-4212	130	87	n	n	PROPN
dem-4212	130	88	tue	tue	X
dem-4212	130	89	0500	0500	NUM
dem-4212	131	1	9s	9s	NUM
dem-4212	131	2	e	e	NOUN
dem-4212	131	3	c	c	NOUN
dem-4212	131	4	o	o	NOUN
dem-4212	131	5	hours	hour	NOUN
dem-4212	131	6	intraday	intraday	NOUN
dem-4212	131	7	seasonality	seasonality	NOUN
dem-4212	131	8	(	(	PUNCT
dem-4212	131	9	cs	cs	PROPN
dem-4212	131	10	)	)	PUNCT
dem-4212	131	11	the	the	DET
dem-4212	131	12	days	day	NOUN
dem-4212	131	13	of	of	ADP
dem-4212	131	14	the	the	DET
dem-4212	131	15	week	week	NOUN
dem-4212	131	16	cez	cez	PROPN
dem-4212	131	17	mo	mo	PROPN
dem-4212	131	18	n	n	PROPN
dem-4212	131	19	tue	tue	NOUN
dem-4212	131	20	-40	-40	PROPN
dem-4212	132	1	60	60	NUM
dem-4212	132	2	9	9	NUM
dem-4212	132	3	s	s	NOUN
dem-4212	132	4	e	e	NOUN
dem-4212	132	5	c	c	NOUN
dem-4212	132	6	o	o	NOUN
dem-4212	132	7	hours	hour	NOUN
dem-4212	132	8	intraday	intraday	NOUN
dem-4212	132	9	seasonality	seasonality	NOUN
dem-4212	132	10	(	(	PUNCT
dem-4212	132	11	nw	nw	NOUN
dem-4212	132	12	)	)	PUNCT
dem-4212	132	13	the	the	DET
dem-4212	132	14	days	day	NOUN
dem-4212	132	15	of	of	ADP
dem-4212	132	16	the	the	DET
dem-4212	132	17	week	week	NOUN
dem-4212	132	18	tpsa	tpsa	PROPN
dem-4212	132	19	mo	mo	PROPN
dem-4212	132	20	n	n	PROPN
dem-4212	132	21	tue	tue	X
dem-4212	132	22	0100	0100	NUM
dem-4212	132	23	9s	9s	NUM
dem-4212	132	24	e	e	NOUN
dem-4212	132	25	c	c	NOUN
dem-4212	132	26	hours	hour	NOUN
dem-4212	132	27	intraday	intraday	NOUN
dem-4212	132	28	seasonality	seasonality	NOUN
dem-4212	132	29	(	(	PUNCT
dem-4212	132	30	cs	cs	PROPN
dem-4212	132	31	)	)	PUNCT
dem-4212	132	32	the	the	DET
dem-4212	132	33	days	day	NOUN
dem-4212	132	34	of	of	ADP
dem-4212	132	35	the	the	DET
dem-4212	132	36	week	week	NOUN
dem-4212	132	37	tpsa	tpsa	PROPN
dem-4212	132	38	mo	mo	PROPN
dem-4212	132	39	n	n	PROPN
dem-4212	132	40	tue	tue	ADJ
dem-4212	132	41	intraday	intraday	NOUN
dem-4212	132	42	seasonality	seasonality	NOUN
dem-4212	132	43	in	in	ADP
dem-4212	132	44	analysis	analysis	NOUN
dem-4212	132	45	of	of	ADP
dem-4212	132	46	uhf	uhf	PROPN
dem-4212	132	47	financial	financial	ADJ
dem-4212	132	48	data	datum	NOUN
dem-4212	132	49	:	:	PUNCT
dem-4212	132	50	models	model	NOUN
dem-4212	132	51	…	…	PUNCT
dem-4212	132	52	137	137	NUM
dem-4212	132	53	partly	partly	ADV
dem-4212	132	54	reduced	reduce	VERB
dem-4212	132	55	the	the	DET
dem-4212	132	56	autocorrelation	autocorrelation	NOUN
dem-4212	132	57	of	of	ADP
dem-4212	132	58	transaction	transaction	NOUN
dem-4212	132	59	durations	duration	NOUN
dem-4212	132	60	.	.	PUNCT
dem-4212	133	1	from	from	ADP
dem-4212	133	2	the	the	DET
dem-4212	133	3	point	point	NOUN
dem-4212	133	4	of	of	ADP
dem-4212	133	5	view	view	NOUN
dem-4212	133	6	of	of	ADP
dem-4212	133	7	effective	effective	ADJ
dem-4212	133	8	elimination	elimination	NOUN
dem-4212	133	9	of	of	ADP
dem-4212	133	10	seasonality	seasonality	NOUN
dem-4212	133	11	impact	impact	NOUN
dem-4212	133	12	on	on	ADP
dem-4212	133	13	autocorrelation	autocorrelation	NOUN
dem-4212	133	14	“	"	PUNCT
dem-4212	133	15	measured	measure	VERB
dem-4212	133	16	”	"	PUNCT
dem-4212	133	17	in	in	ADP
dem-4212	133	18	terms	term	NOUN
dem-4212	133	19	of	of	ADP
dem-4212	133	20	the	the	DET
dem-4212	133	21	values	value	NOUN
dem-4212	133	22	of	of	ADP
dem-4212	133	23	the	the	DET
dem-4212	133	24	ljung	ljung	ADJ
dem-4212	133	25	-	-	PUNCT
dem-4212	133	26	box	box	NOUN
dem-4212	133	27	test	test	NOUN
dem-4212	133	28	statistics	statistic	NOUN
dem-4212	133	29	,	,	PUNCT
dem-4212	133	30	the	the	DET
dem-4212	133	31	nw_days	nw_day	NOUN
dem-4212	133	32	(	(	PUNCT
dem-4212	133	33	table	table	NOUN
dem-4212	133	34	2	2	NUM
dem-4212	133	35	)	)	PUNCT
dem-4212	133	36	appears	appear	VERB
dem-4212	133	37	to	to	PART
dem-4212	133	38	be	be	AUX
dem-4212	133	39	the	the	DET
dem-4212	133	40	most	most	ADV
dem-4212	133	41	effective	effective	ADJ
dem-4212	133	42	method	method	NOUN
dem-4212	133	43	.	.	PUNCT
dem-4212	134	1	in	in	ADP
dem-4212	134	2	the	the	DET
dem-4212	134	3	case	case	NOUN
dem-4212	134	4	of	of	ADP
dem-4212	134	5	tpsa	tpsa	NOUN
dem-4212	134	6	and	and	CCONJ
dem-4212	134	7	agora	agora	INTJ
dem-4212	134	8	it	it	PRON
dem-4212	134	9	was	be	AUX
dem-4212	134	10	definitely	definitely	ADV
dem-4212	134	11	the	the	DET
dem-4212	134	12	most	most	ADV
dem-4212	134	13	successful	successful	ADJ
dem-4212	134	14	,	,	PUNCT
dem-4212	134	15	i.e.	i.e.	X
dem-4212	134	16	the	the	DET
dem-4212	134	17	values	value	NOUN
dem-4212	134	18	of	of	ADP
dem-4212	134	19	test	test	NOUN
dem-4212	134	20	statistics	statistic	NOUN
dem-4212	134	21	are	be	AUX
dem-4212	134	22	the	the	DET
dem-4212	134	23	lowest	low	ADJ
dem-4212	134	24	of	of	ADP
dem-4212	134	25	all	all	DET
dem-4212	134	26	four	four	NUM
dem-4212	134	27	methods	method	NOUN
dem-4212	134	28	used	use	VERB
dem-4212	134	29	.	.	PUNCT
dem-4212	135	1	on	on	ADP
dem-4212	135	2	the	the	DET
dem-4212	135	3	other	other	ADJ
dem-4212	135	4	hand	hand	NOUN
dem-4212	135	5	,	,	PUNCT
dem-4212	135	6	in	in	ADP
dem-4212	135	7	the	the	DET
dem-4212	135	8	case	case	NOUN
dem-4212	135	9	of	of	ADP
dem-4212	135	10	cez	cez	PROPN
dem-4212	135	11	company	company	NOUN
dem-4212	135	12	,	,	PUNCT
dem-4212	135	13	it	it	PRON
dem-4212	135	14	ranked	rank	VERB
dem-4212	135	15	number	number	NOUN
dem-4212	135	16	two	two	NUM
dem-4212	135	17	,	,	PUNCT
dem-4212	135	18	with	with	SCONJ
dem-4212	135	19	the	the	DET
dem-4212	135	20	cs_days	cs_day	NOUN
dem-4212	135	21	approach	approach	NOUN
dem-4212	135	22	ranked	rank	VERB
dem-4212	135	23	the	the	DET
dem-4212	135	24	highest	high	ADJ
dem-4212	135	25	.	.	PUNCT
dem-4212	136	1	tabel	tabel	NOUN
dem-4212	136	2	2	2	NUM
dem-4212	136	3	.	.	PUNCT
dem-4212	136	4	descriptive	descriptive	ADJ
dem-4212	136	5	statistics	statistic	NOUN
dem-4212	136	6	of	of	ADP
dem-4212	136	7	adjusted	adjust	VERB
dem-4212	136	8	transaction	transaction	NOUN
dem-4212	136	9	durations	duration	NOUN
dem-4212	136	10	after	after	ADP
dem-4212	136	11	deseasonalisation	deseasonalisation	NOUN
dem-4212	136	12	by	by	ADP
dem-4212	136	13	means	mean	NOUN
dem-4212	136	14	of	of	ADP
dem-4212	136	15	the	the	DET
dem-4212	136	16	four	four	NUM
dem-4212	136	17	methods	method	NOUN
dem-4212	136	18	stock	stock	NOUN
dem-4212	136	19	method	method	NOUN
dem-4212	136	20	mean	mean	PROPN
dem-4212	136	21	sd	sd	ADP
dem-4212	136	22	disp	disp	NOUN
dem-4212	136	23	.	.	PUNCT
dem-4212	137	1	index	index	NOUN
dem-4212	137	2	acf(1	acf(1	NOUN
dem-4212	137	3	)	)	PUNCT
dem-4212	138	1	q(5	q(5	NOUN
dem-4212	138	2	)	)	PUNCT
dem-4212	138	3	q(10	q(10	NOUN
dem-4212	138	4	)	)	PUNCT
dem-4212	138	5	q(15	q(15	PROPN
dem-4212	138	6	)	)	PUNCT
dem-4212	138	7	q(20	q(20	PROPN
dem-4212	138	8	)	)	PUNCT
dem-4212	138	9	cez	cez	PROPN
dem-4212	138	10	nw_days	nw_days	ADP
dem-4212	138	11	0.990	0.990	NUM
dem-4212	138	12	2.320	2.320	NUM
dem-4212	138	13	2.340	2.340	NUM
dem-4212	138	14	0.205	0.205	NUM
dem-4212	138	15	1360.150	1360.150	NUM
dem-4212	138	16	1897.080	1897.080	NUM
dem-4212	138	17	2101.860	2101.860	NUM
dem-4212	138	18	2240.300	2240.300	NUM
dem-4212	138	19	nw	nw	NOUN
dem-4212	138	20	0.990	0.990	NUM
dem-4212	138	21	2.200	2.200	NUM
dem-4212	138	22	2.220	2.220	NUM
dem-4212	138	23	0.215	0.215	NUM
dem-4212	138	24	1537.830	1537.830	PROPN
dem-4212	138	25	2111.380	2111.380	NUM
dem-4212	138	26	2475.990	2475.990	NUM
dem-4212	138	27	2676.680	2676.680	NUM
dem-4212	138	28	cs_days	cs_day	NOUN
dem-4212	138	29	0.980	0.980	NUM
dem-4212	138	30	2.280	2.280	NUM
dem-4212	138	31	2.320	2.320	NUM
dem-4212	138	32	0.190	0.190	NUM
dem-4212	138	33	1290.340	1290.340	NUM
dem-4212	138	34	1782.540	1782.540	NUM
dem-4212	138	35	1972.950	1972.950	NUM
dem-4212	138	36	2121.000	2121.000	NUM
dem-4212	138	37	cs	cs	PROPN
dem-4212	138	38	0.970	0.970	NUM
dem-4212	138	39	2.130	2.130	NUM
dem-4212	138	40	2.190	2.190	NUM
dem-4212	138	41	0.209	0.209	NUM
dem-4212	138	42	1535.590	1535.590	NUM
dem-4212	138	43	2137.890	2137.890	NOUN
dem-4212	138	44	2530.380	2530.380	NUM
dem-4212	138	45	2759.580	2759.580	NUM
dem-4212	138	46	agora	agora	PROPN
dem-4212	138	47	nw_days	nw_days	ADP
dem-4212	138	48	0.990	0.990	NUM
dem-4212	138	49	1.980	1.980	NUM
dem-4212	138	50	2.000	2.000	NUM
dem-4212	138	51	0.215	0.215	NUM
dem-4212	138	52	2518.120	2518.120	PROPN
dem-4212	138	53	3521.420	3521.420	NUM
dem-4212	138	54	4333.470	4333.470	NUM
dem-4212	138	55	4886.400	4886.400	NUM
dem-4212	138	56	nw	nw	NOUN
dem-4212	138	57	0.990	0.990	NUM
dem-4212	138	58	1.980	1.980	NUM
dem-4212	138	59	2.000	2.000	NUM
dem-4212	138	60	0.211	0.211	NUM
dem-4212	138	61	2675.970	2675.970	NUM
dem-4212	138	62	3719.670	3719.670	NUM
dem-4212	138	63	4600.870	4600.870	NUM
dem-4212	138	64	5169.360	5169.360	NUM
dem-4212	138	65	cs_days	cs_day	VERB
dem-4212	138	66	0.990	0.990	NUM
dem-4212	138	67	1.950	1.950	NUM
dem-4212	138	68	1.970	1.970	NUM
dem-4212	138	69	0.209	0.209	NUM
dem-4212	138	70	2599.490	2599.490	NUM
dem-4212	138	71	3632.710	3632.710	NUM
dem-4212	138	72	4520.890	4520.890	NUM
dem-4212	138	73	5097.310	5097.310	NUM
dem-4212	138	74	cs	cs	PROPN
dem-4212	138	75	0.990	0.990	NUM
dem-4212	138	76	1.950	1.950	NUM
dem-4212	138	77	1.970	1.970	NUM
dem-4212	138	78	0.215	0.215	NUM
dem-4212	138	79	2553.890	2553.890	NUM
dem-4212	138	80	3604.400	3604.400	NUM
dem-4212	138	81	4480.420	4480.420	NUM
dem-4212	138	82	5078.150	5078.150	NUM
dem-4212	138	83	tpsa	tpsa	NOUN
dem-4212	138	84	nw_days	nw_day	VERB
dem-4212	138	85	0.990	0.990	NUM
dem-4212	138	86	1.660	1.660	NUM
dem-4212	138	87	1.670	1.670	NUM
dem-4212	138	88	0.195	0.195	NUM
dem-4212	138	89	7357.560	7357.560	NUM
dem-4212	138	90	10568.660	10568.660	NUM
dem-4212	138	91	12843.060	12843.060	NUM
dem-4212	138	92	14864.480	14864.480	PROPN
dem-4212	138	93	nw	nw	NOUN
dem-4212	138	94	0.990	0.990	NUM
dem-4212	138	95	1.680	1.680	NUM
dem-4212	138	96	1.700	1.700	NUM
dem-4212	138	97	0.197	0.197	NUM
dem-4212	138	98	7614.770	7614.770	NUM
dem-4212	138	99	10964.070	10964.070	NUM
dem-4212	138	100	13401.270	13401.270	NUM
dem-4212	138	101	15598.530	15598.530	NUM
dem-4212	138	102	cs_days	cs_day	VERB
dem-4212	138	103	0.990	0.990	NUM
dem-4212	138	104	1.670	1.670	NUM
dem-4212	138	105	1.690	1.690	NUM
dem-4212	138	106	0.197	0.197	NUM
dem-4212	138	107	7527.590	7527.590	NUM
dem-4212	138	108	10874.810	10874.810	NUM
dem-4212	138	109	13294.540	13294.540	NUM
dem-4212	138	110	15400.190	15400.190	NUM
dem-4212	138	111	cs	cs	NOUN
dem-4212	138	112	0.990	0.990	NUM
dem-4212	138	113	1.680	1.680	NUM
dem-4212	138	114	1.700	1.700	NUM
dem-4212	138	115	0.200	0.200	NUM
dem-4212	138	116	7793.400	7793.400	NUM
dem-4212	138	117	11248.550	11248.550	NUM
dem-4212	138	118	13802.000	13802.000	NUM
dem-4212	138	119	16085.570	16085.570	NUM
dem-4212	138	120	note	note	NOUN
dem-4212	138	121	:	:	PUNCT
dem-4212	138	122	sd	sd	X
dem-4212	138	123	–	–	PUNCT
dem-4212	138	124	standard	standard	ADJ
dem-4212	138	125	deviation	deviation	NOUN
dem-4212	138	126	;	;	PUNCT
dem-4212	138	127	acf(k	acf(k	X
dem-4212	138	128	)	)	PUNCT
dem-4212	138	129	–	–	PUNCT
dem-4212	138	130	the	the	DET
dem-4212	138	131	value	value	NOUN
dem-4212	138	132	of	of	ADP
dem-4212	138	133	the	the	DET
dem-4212	138	134	k	k	NOUN
dem-4212	138	135	-	-	PUNCT
dem-4212	138	136	th	th	VERB
dem-4212	138	137	order	order	NOUN
dem-4212	138	138	autocorrelation	autocorrelation	NOUN
dem-4212	138	139	coefficient	coefficient	NOUN
dem-4212	138	140	,	,	PUNCT
dem-4212	138	141	q(k	q(k	PROPN
dem-4212	138	142	)	)	PUNCT
dem-4212	138	143	–	–	PUNCT
dem-4212	138	144	the	the	DET
dem-4212	138	145	value	value	NOUN
dem-4212	138	146	of	of	ADP
dem-4212	138	147	the	the	DET
dem-4212	138	148	ljung	ljung	PROPN
dem-4212	138	149	-	-	PUNCT
dem-4212	138	150	box	box	NOUN
dem-4212	138	151	q	q	NOUN
dem-4212	138	152	-	-	NOUN
dem-4212	138	153	statistic	statistic	NOUN
dem-4212	138	154	of	of	ADP
dem-4212	138	155	k	k	NOUN
dem-4212	138	156	-	-	PUNCT
dem-4212	138	157	th	th	VERB
dem-4212	138	158	order	order	NOUN
dem-4212	138	159	,	,	PUNCT
dem-4212	138	160	descriptive	descriptive	ADJ
dem-4212	138	161	statistics	statistic	NOUN
dem-4212	138	162	in	in	ADP
dem-4212	138	163	seconds	second	NOUN
dem-4212	138	164	.	.	PUNCT
dem-4212	139	1	an	an	DET
dem-4212	139	2	analysis	analysis	NOUN
dem-4212	139	3	of	of	ADP
dem-4212	139	4	the	the	DET
dem-4212	139	5	values	value	NOUN
dem-4212	139	6	of	of	ADP
dem-4212	139	7	ljung	ljung	ADJ
dem-4212	139	8	-	-	PUNCT
dem-4212	139	9	box	box	NOUN
dem-4212	139	10	statistics	statistic	NOUN
dem-4212	139	11	implies	imply	VERB
dem-4212	139	12	that	that	SCONJ
dem-4212	139	13	the	the	DET
dem-4212	139	14	nw_days	nw_day	NOUN
dem-4212	139	15	and	and	CCONJ
dem-4212	139	16	cs_days	cs_day	VERB
dem-4212	139	17	approaches	approach	NOUN
dem-4212	139	18	should	should	AUX
dem-4212	139	19	be	be	AUX
dem-4212	139	20	used	use	VERB
dem-4212	139	21	.	.	PUNCT
dem-4212	140	1	consequently	consequently	ADV
dem-4212	140	2	,	,	PUNCT
dem-4212	140	3	in	in	ADP
dem-4212	140	4	eliminating	eliminate	VERB
dem-4212	140	5	intraday	intraday	NOUN
dem-4212	140	6	seasonality	seasonality	NOUN
dem-4212	140	7	,	,	PUNCT
dem-4212	140	8	the	the	DET
dem-4212	140	9	“	"	PUNCT
dem-4212	140	10	day	day	NOUN
dem-4212	140	11	of	of	ADP
dem-4212	140	12	the	the	DET
dem-4212	140	13	week	week	NOUN
dem-4212	140	14	”	"	PUNCT
dem-4212	140	15	effect	effect	NOUN
dem-4212	140	16	i.e.	i.e.	X
dem-4212	140	17	possible	possible	ADJ
dem-4212	140	18	seasonality	seasonality	NOUN
dem-4212	140	19	arising	arise	VERB
dem-4212	140	20	from	from	ADP
dem-4212	140	21	variations	variation	NOUN
dem-4212	140	22	in	in	ADP
dem-4212	140	23	trading	trading	NOUN
dem-4212	140	24	activity	activity	NOUN
dem-4212	140	25	over	over	ADP
dem-4212	140	26	the	the	DET
dem-4212	140	27	entire	entire	ADJ
dem-4212	140	28	week	week	NOUN
dem-4212	140	29	should	should	AUX
dem-4212	140	30	be	be	AUX
dem-4212	140	31	taken	take	VERB
dem-4212	140	32	into	into	ADP
dem-4212	140	33	account	account	NOUN
dem-4212	140	34	.	.	PUNCT
dem-4212	141	1	regardless	regardless	ADV
dem-4212	141	2	of	of	ADP
dem-4212	141	3	the	the	DET
dem-4212	141	4	deseasonalisation	deseasonalisation	NOUN
dem-4212	141	5	method	method	NOUN
dem-4212	141	6	used	use	VERB
dem-4212	141	7	,	,	PUNCT
dem-4212	141	8	the	the	DET
dem-4212	141	9	values	value	NOUN
dem-4212	141	10	of	of	ADP
dem-4212	141	11	ljung	ljung	ADJ
dem-4212	141	12	-	-	PUNCT
dem-4212	141	13	box	box	NOUN
dem-4212	141	14	test	test	NOUN
dem-4212	141	15	statistics	statistic	NOUN
dem-4212	141	16	for	for	ADP
dem-4212	141	17	the	the	DET
dem-4212	141	18	companies	company	NOUN
dem-4212	141	19	in	in	ADP
dem-4212	141	20	question	question	NOUN
dem-4212	141	21	dropped	drop	VERB
dem-4212	141	22	by	by	ADP
dem-4212	141	23	approximately	approximately	ADV
dem-4212	141	24	15%-25	15%-25	NUM
dem-4212	141	25	%	%	NOUN
dem-4212	141	26	,	,	PUNCT
dem-4212	141	27	but	but	CCONJ
dem-4212	141	28	still	still	ADV
dem-4212	141	29	continued	continue	VERB
dem-4212	141	30	to	to	PART
dem-4212	141	31	be	be	AUX
dem-4212	141	32	very	very	ADV
dem-4212	141	33	high	high	ADJ
dem-4212	141	34	.	.	PUNCT
dem-4212	142	1	thus	thus	ADV
dem-4212	142	2	,	,	PUNCT
dem-4212	142	3	the	the	DET
dem-4212	142	4	null	null	ADJ
dem-4212	142	5	hypothesis	hypothesis	NOUN
dem-4212	142	6	implying	imply	VERB
dem-4212	142	7	lack	lack	NOUN
dem-4212	142	8	of	of	ADP
dem-4212	142	9	autocorrelation	autocorrelation	NOUN
dem-4212	142	10	continues	continue	VERB
dem-4212	142	11	to	to	PART
dem-4212	142	12	be	be	AUX
dem-4212	142	13	rejected	reject	VERB
dem-4212	142	14	on	on	ADP
dem-4212	142	15	each	each	DET
dem-4212	142	16	reasonable	reasonable	ADJ
dem-4212	142	17	level	level	NOUN
dem-4212	142	18	of	of	ADP
dem-4212	142	19	significance	significance	NOUN
dem-4212	142	20	.	.	PUNCT
dem-4212	143	1	this	this	PRON
dem-4212	143	2	bears	bear	VERB
dem-4212	143	3	witness	witness	NOUN
dem-4212	143	4	to	to	ADP
dem-4212	143	5	the	the	DET
dem-4212	143	6	fact	fact	NOUN
dem-4212	143	7	that	that	SCONJ
dem-4212	143	8	the	the	DET
dem-4212	143	9	dynamics	dynamic	NOUN
dem-4212	143	10	of	of	ADP
dem-4212	143	11	transaction	transaction	NOUN
dem-4212	143	12	durations	duration	NOUN
dem-4212	143	13	are	be	AUX
dem-4212	143	14	influenced	influence	VERB
dem-4212	143	15	by	by	ADP
dem-4212	143	16	factors	factor	NOUN
dem-4212	143	17	other	other	ADJ
dem-4212	143	18	than	than	ADP
dem-4212	143	19	the	the	DET
dem-4212	143	20	purely	purely	ADV
dem-4212	143	21	deterministic	deterministic	ADJ
dem-4212	143	22	seasonality	seasonality	NOUN
dem-4212	143	23	effect	effect	NOUN
dem-4212	143	24	,	,	PUNCT
dem-4212	143	25	which	which	PRON
dem-4212	143	26	in	in	ADP
dem-4212	143	27	turn	turn	NOUN
dem-4212	143	28	is	be	AUX
dem-4212	143	29	due	due	ADJ
dem-4212	143	30	to	to	ADP
dem-4212	143	31	the	the	DET
dem-4212	143	32	structure	structure	NOUN
dem-4212	143	33	of	of	ADP
dem-4212	143	34	the	the	DET
dem-4212	143	35	share	share	NOUN
dem-4212	143	36	market	market	NOUN
dem-4212	143	37	.	.	PUNCT
dem-4212	144	1	5	5	X
dem-4212	144	2	.	.	X
dem-4212	144	3	summary	summary	NOUN
dem-4212	144	4	based	base	VERB
dem-4212	144	5	on	on	ADP
dem-4212	144	6	the	the	DET
dem-4212	144	7	results	result	NOUN
dem-4212	144	8	of	of	ADP
dem-4212	144	9	empirical	empirical	ADJ
dem-4212	144	10	data	datum	NOUN
dem-4212	144	11	,	,	PUNCT
dem-4212	144	12	the	the	DET
dem-4212	144	13	application	application	NOUN
dem-4212	144	14	of	of	ADP
dem-4212	144	15	the	the	DET
dem-4212	144	16	kernel	kernel	PROPN
dem-4212	144	17	estimator	estimator	NOUN
dem-4212	144	18	of	of	ADP
dem-4212	144	19	regression	regression	NOUN
dem-4212	144	20	separately	separately	ADV
dem-4212	144	21	for	for	ADP
dem-4212	144	22	each	each	DET
dem-4212	144	23	day	day	NOUN
dem-4212	144	24	of	of	ADP
dem-4212	144	25	the	the	DET
dem-4212	144	26	week	week	NOUN
dem-4212	144	27	appeared	appear	VERB
dem-4212	144	28	to	to	PART
dem-4212	144	29	be	be	AUX
dem-4212	144	30	the	the	DET
dem-4212	144	31	most	most	ADV
dem-4212	144	32	effective	effective	ADJ
dem-4212	144	33	method	method	NOUN
dem-4212	144	34	of	of	ADP
dem-4212	144	35	elimination	elimination	NOUN
dem-4212	144	36	of	of	ADP
dem-4212	144	37	intraday	intraday	NOUN
dem-4212	144	38	seasonality	seasonality	NOUN
dem-4212	144	39	impact	impact	NOUN
dem-4212	144	40	on	on	ADP
dem-4212	144	41	the	the	DET
dem-4212	144	42	autocorrelation	autocorrelation	NOUN
dem-4212	144	43	of	of	ADP
dem-4212	144	44	transaction	transaction	NOUN
dem-4212	144	45	durations	duration	NOUN
dem-4212	144	46	.	.	PUNCT
dem-4212	145	1	it	it	PRON
dem-4212	145	2	is	be	AUX
dem-4212	145	3	noteworthy	noteworthy	ADJ
dem-4212	145	4	,	,	PUNCT
dem-4212	145	5	though	though	ADV
dem-4212	145	6	,	,	PUNCT
dem-4212	145	7	that	that	SCONJ
dem-4212	145	8	the	the	DET
dem-4212	145	9	results	result	NOUN
dem-4212	145	10	for	for	ADP
dem-4212	145	11	all	all	DET
dem-4212	145	12	analytical	analytical	ADJ
dem-4212	145	13	methods	method	NOUN
dem-4212	145	14	used	use	VERB
dem-4212	145	15	are	be	AUX
dem-4212	145	16	highly	highly	ADV
dem-4212	145	17	similar	similar	ADJ
dem-4212	145	18	.	.	PUNCT
dem-4212	146	1	in	in	ADP
dem-4212	146	2	the	the	DET
dem-4212	146	3	case	case	NOUN
dem-4212	146	4	of	of	ADP
dem-4212	146	5	splines	spline	NOUN
dem-4212	146	6	,	,	PUNCT
dem-4212	146	7	their	their	PRON
dem-4212	146	8	prelimiroman	prelimiroman	NOUN
dem-4212	146	9	huptas	hupta	VERB
dem-4212	146	10	138	138	NUM
dem-4212	146	11	nary	nary	ADJ
dem-4212	146	12	averaging	averaging	NOUN
dem-4212	146	13	of	of	ADP
dem-4212	146	14	durations	duration	NOUN
dem-4212	146	15	between	between	ADP
dem-4212	146	16	events	event	NOUN
dem-4212	146	17	for	for	ADP
dem-4212	146	18	the	the	DET
dem-4212	146	19	subsequent	subsequent	ADJ
dem-4212	146	20	full	full	ADJ
dem-4212	146	21	or	or	CCONJ
dem-4212	146	22	half	half	ADJ
dem-4212	146	23	-	-	PUNCT
dem-4212	146	24	hours	hour	NOUN
dem-4212	146	25	may	may	AUX
dem-4212	146	26	become	become	VERB
dem-4212	146	27	something	something	PRON
dem-4212	146	28	of	of	ADP
dem-4212	146	29	a	a	DET
dem-4212	146	30	drawback	drawback	NOUN
dem-4212	146	31	.	.	PUNCT
dem-4212	147	1	the	the	DET
dem-4212	147	2	extent	extent	NOUN
dem-4212	147	3	of	of	ADP
dem-4212	147	4	data	datum	NOUN
dem-4212	147	5	aggregation	aggregation	NOUN
dem-4212	147	6	and	and	CCONJ
dem-4212	147	7	the	the	DET
dem-4212	147	8	elasticity	elasticity	NOUN
dem-4212	147	9	of	of	ADP
dem-4212	147	10	the	the	DET
dem-4212	147	11	estimated	estimate	VERB
dem-4212	147	12	function	function	NOUN
dem-4212	147	13	can	can	AUX
dem-4212	147	14	be	be	AUX
dem-4212	147	15	reduced	reduce	VERB
dem-4212	147	16	by	by	ADP
dem-4212	147	17	increasing	increase	VERB
dem-4212	147	18	the	the	DET
dem-4212	147	19	number	number	NOUN
dem-4212	147	20	of	of	ADP
dem-4212	147	21	knots	knot	NOUN
dem-4212	147	22	used	use	VERB
dem-4212	147	23	in	in	ADP
dem-4212	147	24	the	the	DET
dem-4212	147	25	spline	spline	NOUN
dem-4212	147	26	.	.	PUNCT
dem-4212	148	1	so	so	ADV
dem-4212	148	2	it	it	PRON
dem-4212	148	3	appears	appear	VERB
dem-4212	148	4	that	that	SCONJ
dem-4212	148	5	the	the	DET
dem-4212	148	6	inclusion	inclusion	NOUN
dem-4212	148	7	of	of	ADP
dem-4212	148	8	intraday	intraday	NOUN
dem-4212	148	9	seasonality	seasonality	NOUN
dem-4212	148	10	models	model	NOUN
dem-4212	148	11	in	in	ADP
dem-4212	148	12	the	the	DET
dem-4212	148	13	base	base	NOUN
dem-4212	148	14	models	model	NOUN
dem-4212	148	15	is	be	AUX
dem-4212	148	16	a	a	DET
dem-4212	148	17	natural	natural	ADJ
dem-4212	148	18	step	step	NOUN
dem-4212	148	19	,	,	PUNCT
dem-4212	148	20	and	and	CCONJ
dem-4212	148	21	wins	win	VERB
dem-4212	148	22	over	over	ADP
dem-4212	148	23	earlier	early	ADJ
dem-4212	148	24	data	datum	NOUN
dem-4212	148	25	filtrations	filtration	NOUN
dem-4212	148	26	and	and	CCONJ
dem-4212	148	27	testing	testing	NOUN
dem-4212	148	28	if	if	SCONJ
dem-4212	148	29	the	the	DET
dem-4212	148	30	use	use	NOUN
dem-4212	148	31	of	of	ADP
dem-4212	148	32	a	a	DET
dem-4212	148	33	two	two	NUM
dem-4212	148	34	-	-	PUNCT
dem-4212	148	35	step	step	NOUN
dem-4212	148	36	or	or	CCONJ
dem-4212	148	37	one	one	NUM
dem-4212	148	38	-	-	PUNCT
dem-4212	148	39	step	step	NOUN
dem-4212	148	40	approaches	approach	NOUN
dem-4212	148	41	will	will	AUX
dem-4212	148	42	have	have	VERB
dem-4212	148	43	identical	identical	ADJ
dem-4212	148	44	impact	impact	NOUN
dem-4212	148	45	on	on	ADP
dem-4212	148	46	the	the	DET
dem-4212	148	47	quality	quality	NOUN
dem-4212	148	48	of	of	ADP
dem-4212	148	49	the	the	DET
dem-4212	148	50	estimators	estimator	NOUN
dem-4212	148	51	determined	determine	VERB
dem-4212	148	52	.	.	PUNCT
dem-4212	149	1	references	reference	NOUN
dem-4212	149	2	bauwens	bauwen	NOUN
dem-4212	149	3	,	,	PUNCT
dem-4212	149	4	l.	l.	PROPN
dem-4212	149	5	,	,	PUNCT
dem-4212	149	6	giot	giot	NOUN
dem-4212	149	7	,	,	PUNCT
dem-4212	149	8	p.	p.	NOUN
dem-4212	149	9	(	(	PUNCT
dem-4212	149	10	2000	2000	NUM
dem-4212	149	11	)	)	PUNCT
dem-4212	149	12	,	,	PUNCT
dem-4212	149	13	the	the	DET
dem-4212	149	14	logarithmic	logarithmic	ADJ
dem-4212	149	15	acd	acd	NOUN
dem-4212	149	16	model	model	NOUN
dem-4212	149	17	:	:	PUNCT
dem-4212	149	18	an	an	DET
dem-4212	149	19	application	application	NOUN
dem-4212	149	20	to	to	ADP
dem-4212	149	21	the	the	DET
dem-4212	149	22	bid	bid	NOUN
dem-4212	149	23	-	-	PUNCT
dem-4212	149	24	ask	ask	VERB
dem-4212	149	25	quote	quote	INTJ
dem-4212	149	26	process	process	NOUN
dem-4212	149	27	of	of	ADP
dem-4212	149	28	three	three	NUM
dem-4212	149	29	nyse	nyse	PROPN
dem-4212	149	30	socks	sock	NOUN
dem-4212	149	31	,	,	PUNCT
dem-4212	149	32	annales	annale	VERB
dem-4212	149	33	d’économie	d’économie	VERB
dem-4212	149	34	et	et	NOUN
dem-4212	149	35	de	de	X
dem-4212	149	36	statistique	statistique	NOUN
dem-4212	149	37	,	,	PUNCT
dem-4212	149	38	60	60	NUM
dem-4212	149	39	,	,	PUNCT
dem-4212	149	40	117–149	117–149	NUM
dem-4212	149	41	.	.	PUNCT
dem-4212	150	1	bauwens	bauwens	PROPN
dem-4212	150	2	,	,	PUNCT
dem-4212	150	3	l.	l.	PROPN
dem-4212	150	4	,	,	PUNCT
dem-4212	150	5	giot	giot	NOUN
dem-4212	150	6	,	,	PUNCT
dem-4212	150	7	p.	p.	NOUN
dem-4212	150	8	(	(	PUNCT
dem-4212	150	9	2001	2001	NUM
dem-4212	150	10	)	)	PUNCT
dem-4212	150	11	,	,	PUNCT
dem-4212	150	12	econometric	econometric	VERB
dem-4212	150	13	modelling	modelling	NOUN
dem-4212	150	14	of	of	ADP
dem-4212	150	15	stock	stock	NOUN
dem-4212	150	16	market	market	NOUN
dem-4212	150	17	intraday	intraday	NOUN
dem-4212	150	18	activity	activity	NOUN
dem-4212	150	19	,	,	PUNCT
dem-4212	150	20	kluwer	kluwer	NOUN
dem-4212	150	21	academic	academic	ADJ
dem-4212	150	22	publishers	publisher	NOUN
dem-4212	150	23	,	,	PUNCT
dem-4212	150	24	boston	boston	PROPN
dem-4212	150	25	.	.	PUNCT
dem-4212	151	1	bauwens	bauwens	PROPN
dem-4212	151	2	,	,	PUNCT
dem-4212	151	3	l.	l.	PROPN
dem-4212	151	4	,	,	PUNCT
dem-4212	151	5	giot	giot	NOUN
dem-4212	151	6	,	,	PUNCT
dem-4212	151	7	p.	p.	NOUN
dem-4212	151	8	(	(	PUNCT
dem-4212	151	9	2002	2002	NUM
dem-4212	151	10	)	)	PUNCT
dem-4212	151	11	,	,	PUNCT
dem-4212	151	12	asymmetric	asymmetric	ADJ
dem-4212	151	13	acd	acd	NOUN
dem-4212	151	14	models	model	NOUN
dem-4212	151	15	:	:	PUNCT
dem-4212	151	16	introducing	introduce	VERB
dem-4212	151	17	price	price	NOUN
dem-4212	151	18	information	information	NOUN
dem-4212	151	19	in	in	ADP
dem-4212	151	20	acd	acd	NOUN
dem-4212	151	21	models	model	NOUN
dem-4212	151	22	,	,	PUNCT
dem-4212	151	23	core	core	NOUN
dem-4212	151	24	discussion	discussion	NOUN
dem-4212	151	25	paper	paper	NOUN
dem-4212	151	26	9844	9844	NUM
dem-4212	151	27	.	.	PUNCT
dem-4212	152	1	bauwens	bauwens	PROPN
dem-4212	152	2	,	,	PUNCT
dem-4212	152	3	l.	l.	PROPN
dem-4212	152	4	,	,	PUNCT
dem-4212	152	5	veredas	veredas	PROPN
dem-4212	152	6	,	,	PUNCT
dem-4212	152	7	d.	d.	PROPN
dem-4212	152	8	(	(	PUNCT
dem-4212	152	9	2004	2004	NUM
dem-4212	152	10	)	)	PUNCT
dem-4212	152	11	,	,	PUNCT
dem-4212	152	12	the	the	DET
dem-4212	152	13	stochastic	stochastic	ADJ
dem-4212	152	14	conditional	conditional	ADJ
dem-4212	152	15	duration	duration	NOUN
dem-4212	152	16	model	model	NOUN
dem-4212	152	17	:	:	PUNCT
dem-4212	152	18	a	a	DET
dem-4212	152	19	latent	latent	ADJ
dem-4212	152	20	variable	variable	ADJ
dem-4212	152	21	model	model	NOUN
dem-4212	152	22	for	for	ADP
dem-4212	152	23	the	the	DET
dem-4212	152	24	analysis	analysis	NOUN
dem-4212	152	25	of	of	ADP
dem-4212	152	26	financial	financial	ADJ
dem-4212	152	27	durations	duration	NOUN
dem-4212	152	28	,	,	PUNCT
dem-4212	152	29	journal	journal	NOUN
dem-4212	152	30	of	of	ADP
dem-4212	152	31	econometrics	econometric	NOUN
dem-4212	152	32	,	,	PUNCT
dem-4212	152	33	119	119	NUM
dem-4212	152	34	,	,	PUNCT
dem-4212	152	35	381–412	381–412	NUM
dem-4212	152	36	.	.	PUNCT
dem-4212	153	1	bień	bień	PROPN
dem-4212	153	2	,	,	PUNCT
dem-4212	153	3	k.	k.	PROPN
dem-4212	153	4	(	(	PUNCT
dem-4212	153	5	2006	2006	NUM
dem-4212	153	6	)	)	PUNCT
dem-4212	153	7	,	,	PUNCT
dem-4212	153	8	model	model	NOUN
dem-4212	153	9	acd	acd	NOUN
dem-4212	153	10	–	–	PUNCT
dem-4212	153	11	podstawowa	podstawowa	NOUN
dem-4212	153	12	specyfikacja	specyfikacja	PROPN
dem-4212	154	1	i	i	PRON
dem-4212	154	2	przykład	przykład	VERB
dem-4212	154	3	zastosowania	zastosowania	NOUN
dem-4212	154	4	(	(	PUNCT
dem-4212	154	5	acd	acd	NOUN
dem-4212	154	6	model	model	NOUN
dem-4212	154	7	–	–	PUNCT
dem-4212	154	8	basic	basic	ADJ
dem-4212	154	9	specification	specification	NOUN
dem-4212	154	10	and	and	CCONJ
dem-4212	154	11	example	example	NOUN
dem-4212	154	12	of	of	ADP
dem-4212	154	13	application	application	NOUN
dem-4212	154	14	)	)	PUNCT
dem-4212	154	15	,	,	PUNCT
dem-4212	154	16	przegląd	przegląd	PROPN
dem-4212	154	17	statystyczny	statystyczny	PROPN
dem-4212	154	18	(	(	PUNCT
dem-4212	154	19	statistical	statistical	ADJ
dem-4212	154	20	survey	survey	NOUN
dem-4212	154	21	)	)	PUNCT
dem-4212	154	22	,	,	PUNCT
dem-4212	154	23	t.53	t.53	NOUN
dem-4212	154	24	,	,	PUNCT
dem-4212	154	25	z.	z.	PROPN
dem-4212	154	26	3	3	NUM
dem-4212	154	27	,	,	PUNCT
dem-4212	154	28	83	83	NUM
dem-4212	154	29	-	-	SYM
dem-4212	154	30	97	97	NUM
dem-4212	154	31	.	.	PUNCT
dem-4212	155	1	dacorogna	dacorogna	VERB
dem-4212	155	2	,	,	PUNCT
dem-4212	155	3	m.	m.	NOUN
dem-4212	155	4	m.	m.	NOUN
dem-4212	155	5	,	,	PUNCT
dem-4212	155	6	gençay	gençay	PROPN
dem-4212	155	7	,	,	PUNCT
dem-4212	155	8	r.	r.	PROPN
dem-4212	155	9	,	,	PUNCT
dem-4212	155	10	müller	müller	PROPN
dem-4212	155	11	,	,	PUNCT
dem-4212	155	12	u.	u.	PROPN
dem-4212	155	13	,	,	PUNCT
dem-4212	155	14	olsen	olsen	PROPN
dem-4212	155	15	,	,	PUNCT
dem-4212	155	16	r.	r.	PROPN
dem-4212	155	17	b.	b.	PROPN
dem-4212	155	18	,	,	PUNCT
dem-4212	155	19	pictet	pictet	NOUN
dem-4212	155	20	,	,	PUNCT
dem-4212	156	1	o.	o.	PROPN
dem-4212	156	2	v.	v.	PROPN
dem-4212	156	3	(	(	PUNCT
dem-4212	156	4	2001	2001	NUM
dem-4212	156	5	)	)	PUNCT
dem-4212	156	6	,	,	PUNCT
dem-4212	156	7	an	an	DET
dem-4212	156	8	introduction	introduction	NOUN
dem-4212	156	9	to	to	ADP
dem-4212	156	10	high	high	ADJ
dem-4212	156	11	-	-	PUNCT
dem-4212	156	12	frequency	frequency	NOUN
dem-4212	156	13	finance	finance	NOUN
dem-4212	156	14	,	,	PUNCT
dem-4212	156	15	academic	academic	ADJ
dem-4212	156	16	press	press	NOUN
dem-4212	156	17	,	,	PUNCT
dem-4212	156	18	san	san	PROPN
dem-4212	156	19	diego	diego	PROPN
dem-4212	156	20	.	.	PUNCT
dem-4212	157	1	doman	doman	PROPN
dem-4212	157	2	,	,	PUNCT
dem-4212	157	3	m.	m.	NOUN
dem-4212	157	4	,	,	PUNCT
dem-4212	157	5	doman	doman	PROPN
dem-4212	157	6	,	,	PUNCT
dem-4212	157	7	r.	r.	PROPN
dem-4212	157	8	(	(	PUNCT
dem-4212	157	9	2004	2004	NUM
dem-4212	157	10	)	)	PUNCT
dem-4212	157	11	,	,	PUNCT
dem-4212	157	12	ekonometryczne	ekonometryczne	PROPN
dem-4212	157	13	modelowanie	modelowanie	PROPN
dem-4212	157	14	dynamiki	dynamiki	PROPN
dem-4212	157	15	polskiego	polskiego	PROPN
dem-4212	157	16	rynku	rynku	PROPN
dem-4212	157	17	finansowego	finansowego	PROPN
dem-4212	157	18	(	(	PUNCT
dem-4212	157	19	econometric	econometric	ADJ
dem-4212	157	20	modelling	modelling	NOUN
dem-4212	157	21	of	of	ADP
dem-4212	157	22	dynamics	dynamic	NOUN
dem-4212	157	23	of	of	ADP
dem-4212	157	24	polish	polish	ADJ
dem-4212	157	25	financial	financial	ADJ
dem-4212	157	26	market	market	NOUN
dem-4212	157	27	)	)	PUNCT
dem-4212	157	28	,	,	PUNCT
dem-4212	157	29	wydawnictwo	wydawnictwo	PROPN
dem-4212	157	30	ae	ae	PROPN
dem-4212	157	31	w	w	PROPN
dem-4212	157	32	poznaniu	poznaniu	PROPN
dem-4212	157	33	,	,	PUNCT
dem-4212	157	34	poznań	poznań	NOUN
dem-4212	157	35	.	.	PUNCT
dem-4212	158	1	engle	engle	PROPN
dem-4212	158	2	,	,	PUNCT
dem-4212	158	3	r.	r.	PROPN
dem-4212	158	4	f.	f.	PROPN
dem-4212	158	5	,	,	PUNCT
dem-4212	158	6	russell	russell	PROPN
dem-4212	158	7	,	,	PUNCT
dem-4212	158	8	j.	j.	PROPN
dem-4212	158	9	r.	r.	PROPN
dem-4212	158	10	(	(	PUNCT
dem-4212	158	11	1997	1997	NUM
dem-4212	158	12	)	)	PUNCT
dem-4212	158	13	,	,	PUNCT
dem-4212	158	14	autoregressive	autoregressive	ADJ
dem-4212	158	15	conditional	conditional	ADJ
dem-4212	158	16	duration	duration	NOUN
dem-4212	158	17	:	:	PUNCT
dem-4212	158	18	a	a	DET
dem-4212	158	19	new	new	ADJ
dem-4212	158	20	model	model	NOUN
dem-4212	158	21	for	for	ADP
dem-4212	158	22	irregularly	irregularly	ADV
dem-4212	158	23	spaced	space	VERB
dem-4212	158	24	transaction	transaction	NOUN
dem-4212	158	25	data	datum	NOUN
dem-4212	158	26	,	,	PUNCT
dem-4212	158	27	econometrica	econometrica	PROPN
dem-4212	158	28	,	,	PUNCT
dem-4212	158	29	66	66	NUM
dem-4212	158	30	,	,	PUNCT
dem-4212	158	31	1127–1162	1127–1162	NUM
dem-4212	158	32	.	.	PUNCT
dem-4212	159	1	hautsch	hautsch	PROPN
dem-4212	159	2	n.	n.	PROPN
dem-4212	159	3	(	(	PUNCT
dem-4212	159	4	2004	2004	NUM
dem-4212	159	5	)	)	PUNCT
dem-4212	159	6	,	,	PUNCT
dem-4212	159	7	modelling	model	VERB
dem-4212	159	8	irregularly	irregularly	ADV
dem-4212	159	9	spaced	space	VERB
dem-4212	159	10	financial	financial	ADJ
dem-4212	159	11	data	datum	NOUN
dem-4212	159	12	,	,	PUNCT
dem-4212	159	13	springer	springer	NOUN
dem-4212	159	14	-	-	PUNCT
dem-4212	159	15	verlag	verlag	PROPN
dem-4212	159	16	,	,	PUNCT
dem-4212	159	17	berlin	berlin	PROPN
dem-4212	159	18	,	,	PUNCT
dem-4212	159	19	heidelberg	heidelberg	NOUN
dem-4212	159	20	.	.	PUNCT
dem-4212	160	1	o’hara	o’hara	NOUN
dem-4212	160	2	,	,	PUNCT
dem-4212	160	3	m.	m.	NOUN
dem-4212	160	4	(	(	PUNCT
dem-4212	160	5	1995	1995	NUM
dem-4212	160	6	)	)	PUNCT
dem-4212	160	7	,	,	PUNCT
dem-4212	160	8	market	market	NOUN
dem-4212	160	9	microstructure	microstructure	NOUN
dem-4212	160	10	theory	theory	NOUN
dem-4212	160	11	,	,	PUNCT
dem-4212	160	12	blackwell	blackwell	PROPN
dem-4212	160	13	inc	inc	PROPN
dem-4212	160	14	.	.	PROPN
dem-4212	160	15	,	,	PUNCT
dem-4212	160	16	oxford	oxford	PROPN
dem-4212	160	17	.	.	PUNCT
dem-4212	161	1	osińska	osińska	PROPN
dem-4212	161	2	,	,	PUNCT
dem-4212	161	3	m.	m.	NOUN
dem-4212	161	4	(	(	PUNCT
dem-4212	161	5	2006	2006	NUM
dem-4212	161	6	)	)	PUNCT
dem-4212	161	7	,	,	PUNCT
dem-4212	161	8	ekonometria	ekonometria	PROPN
dem-4212	161	9	finansowa	finansowa	PROPN
dem-4212	161	10	(	(	PUNCT
dem-4212	161	11	financial	financial	ADJ
dem-4212	161	12	econometrics	econometric	NOUN
dem-4212	161	13	)	)	PUNCT
dem-4212	161	14	,	,	PUNCT
dem-4212	161	15	pwe	pwe	PROPN
dem-4212	161	16	,	,	PUNCT
dem-4212	161	17	warszawa	warszawa	PROPN
dem-4212	161	18	.	.	PUNCT
dem-4212	162	1	tsay	tsay	PROPN
dem-4212	162	2	,	,	PUNCT
dem-4212	162	3	r.s	r.s	PROPN
dem-4212	162	4	.	.	PROPN
dem-4212	162	5	(	(	PUNCT
dem-4212	162	6	2002	2002	NUM
dem-4212	162	7	)	)	PUNCT
dem-4212	162	8	,	,	PUNCT
dem-4212	162	9	analysis	analysis	NOUN
dem-4212	162	10	of	of	ADP
dem-4212	162	11	financial	financial	ADJ
dem-4212	162	12	time	time	NOUN
dem-4212	162	13	series	series	PROPN
dem-4212	162	14	,	,	PUNCT
dem-4212	162	15	wiley	wiley	PROPN
dem-4212	162	16	series	series	PROPN
dem-4212	162	17	in	in	ADP
dem-4212	162	18	probability	probability	NOUN
dem-4212	162	19	and	and	CCONJ
dem-4212	162	20	statistics	statistic	NOUN
dem-4212	162	21	,	,	PUNCT
dem-4212	162	22	john	john	PROPN
dem-4212	162	23	wiley	wiley	PROPN
dem-4212	162	24	&	&	CCONJ
dem-4212	162	25	sons	son	NOUN
dem-4212	162	26	,	,	PUNCT
dem-4212	162	27	new	new	PROPN
dem-4212	162	28	york	york	PROPN
dem-4212	162	29	.	.	PUNCT
dem-4212	163	1	wewnątrzdzienna	wewnątrzdzienna	PROPN
dem-4212	163	2	sezonowość	sezonowość	PROPN
dem-4212	163	3	w	w	PROPN
dem-4212	163	4	analizie	analizie	PROPN
dem-4212	163	5	danych	danych	PROPN
dem-4212	163	6	finansowych	finansowych	PROPN
dem-4212	163	7	uhf	uhf	PROPN
dem-4212	163	8	:	:	PUNCT
dem-4212	163	9	modele	modele	PROPN
dem-4212	163	10	i	i	PROPN
dem-4212	163	11	ich	ich	PROPN
dem-4212	163	12	empiryczna	empiryczna	VERB
dem-4212	163	13	weryfikacja	weryfikacja	PROPN
dem-4212	163	14	z	z	PROPN
dem-4212	164	1	a	a	DET
dem-4212	164	2	r	r	NOUN
dem-4212	164	3	y	y	PROPN
dem-4212	164	4	s	s	PROPN
dem-4212	164	5	t	t	NOUN
dem-4212	164	6	r	r	NOUN
dem-4212	164	7	e	e	PROPN
dem-4212	164	8	ś	ś	PROPN
dem-4212	164	9	c	c	PROPN
dem-4212	164	10	i.	i.	PROPN
dem-4212	164	11	celem	celem	PROPN
dem-4212	164	12	artykułu	artykułu	PROPN
dem-4212	164	13	jest	jest	PROPN
dem-4212	164	14	krótkie	krótkie	PROPN
dem-4212	164	15	przedstawienie	przedstawienie	PROPN
dem-4212	164	16	cech	cech	PROPN
dem-4212	164	17	charakterystycznych	charakterystycznych	PROPN
dem-4212	164	18	dla	dla	NOUN
dem-4212	164	19	danych	danych	NOUN
dem-4212	164	20	finansowych	finansowych	PROPN
dem-4212	164	21	uhf	uhf	PROPN
dem-4212	164	22	oraz	oraz	PROPN
dem-4212	164	23	prezentacja	prezentacja	PROPN
dem-4212	164	24	metod	metod	VERB
dem-4212	164	25	modelowania	modelowania	NOUN
dem-4212	164	26	i	i	PRON
dem-4212	164	27	szacowania	szacowania	PROPN
dem-4212	164	28	wewnątrzdziennej	wewnątrzdziennej	PROPN
dem-4212	164	29	sezonowości	sezonowości	PROPN
dem-4212	164	30	aktywności	aktywności	VERB
dem-4212	164	31	transakcyjnej	transakcyjnej	PROPN
dem-4212	164	32	.	.	PUNCT
dem-4212	165	1	w	w	PROPN
dem-4212	165	2	ramach	ramach	PROPN
dem-4212	165	3	tych	tych	PROPN
dem-4212	165	4	metod	metod	X
dem-4212	165	5	są	są	PROPN
dem-4212	165	6	przedstawione	przedstawione	NOUN
dem-4212	165	7	dwa	dwa	PROPN
dem-4212	165	8	podejścia	podejścia	PROPN
dem-4212	165	9	nieparametryczne	nieparametryczne	NOUN
dem-4212	165	10	:	:	PUNCT
dem-4212	165	11	interpolacja	interpolacja	PROPN
dem-4212	165	12	za	za	PROPN
dem-4212	165	13	pomocą	pomocą	PROPN
dem-4212	165	14	kubicznych	kubicznych	PROPN
dem-4212	165	15	funkcji	funkcji	PROPN
dem-4212	165	16	sklejanych	sklejanych	VERB
dem-4212	165	17	oraz	oraz	PROPN
dem-4212	165	18	estymacja	estymacja	PROPN
dem-4212	165	19	jądrowa	jądrowa	PROPN
dem-4212	165	20	funkcji	funkcji	PROPN
dem-4212	165	21	regresji	regresji	PROPN
dem-4212	165	22	.	.	PUNCT
dem-4212	166	1	oba	oba	PROPN
dem-4212	166	2	prezentowane	prezentowane	PROPN
dem-4212	166	3	podejścia	podejścia	PROPN
dem-4212	166	4	są	są	PROPN
dem-4212	166	5	zweryfikowane	zweryfikowane	NOUN
dem-4212	167	1	i	i	PRON
dem-4212	167	2	porównane	porównane	PROPN
dem-4212	167	3	empirycznie	empirycznie	PROPN
dem-4212	167	4	na	na	AUX
dem-4212	167	5	podstawie	podstawie	NOUN
dem-4212	167	6	danych	danych	PROPN
dem-4212	167	7	z	z	PROPN
dem-4212	167	8	polskiego	polskiego	PROPN
dem-4212	167	9	rynku	rynku	ADJ
dem-4212	167	10	akcji	akcji	NOUN
dem-4212	167	11	.	.	PUNCT
dem-4212	168	1	s	s	PART
dem-4212	168	2	ł	ł	PROPN
dem-4212	168	3	o	o	X
dem-4212	168	4	w	w	NOUN
dem-4212	168	5	a	a	DET
dem-4212	168	6	k	k	X
dem-4212	168	7	l	l	NOUN
dem-4212	168	8	u	u	NOUN
dem-4212	169	1	c	c	NOUN
dem-4212	169	2	z	z	NOUN
dem-4212	169	3	o	o	X
dem-4212	169	4	w	w	PROPN
dem-4212	170	1	e	e	NOUN
dem-4212	170	2	:	:	PUNCT
dem-4212	170	3	dane	dane	PROPN
dem-4212	170	4	finansowe	finansowe	PROPN
dem-4212	170	5	uhf	uhf	PROPN
dem-4212	170	6	,	,	PUNCT
dem-4212	170	7	wewnątrzdzienna	wewnątrzdzienna	NOUN
dem-4212	170	8	sezonowość	sezonowość	NOUN
dem-4212	170	9	,	,	PUNCT
dem-4212	170	10	funkcje	funkcje	NOUN
dem-4212	170	11	sklejane	sklejane	NOUN
dem-4212	170	12	,	,	PUNCT
dem-4212	170	13	estymator	estymator	PROPN
dem-4212	170	14	nadaraya	nadaraya	PROPN
dem-4212	170	15	-	-	PUNCT
dem-4212	170	16	watsona	watsona	NOUN
dem-4212	170	17	.	.	PUNCT