id	sid	tid	token	lemma	pos
dem-8594	1	1	dem_2015_129to156	dem_2015_129to156	PROPN
dem-8594	1	2	©	©	PROPN
dem-8594	1	3	2016	2016	NUM
dem-8594	1	4	nicolaus	nicolaus	PROPN
dem-8594	1	5	copernicus	copernicus	PROPN
dem-8594	1	6	university	university	PROPN
dem-8594	1	7	press	press	NOUN
dem-8594	1	8	.	.	PUNCT
dem-8594	2	1	all	all	DET
dem-8594	2	2	rights	right	NOUN
dem-8594	2	3	reserved	reserve	VERB
dem-8594	2	4	.	.	PUNCT
dem-8594	3	1	http://www.dem.umk.pl/dem	http://www.dem.umk.pl/dem	PROPN
dem-8594	4	1	d	d	PUNCT
dem-8594	4	2	y	y	PROPN
dem-8594	4	3	n	n	PROPN
dem-8594	4	4	a	a	PRON
dem-8594	4	5	m	m	VERB
dem-8594	5	1	i	i	NOUN
dem-8594	5	2	c	c	NOUN
dem-8594	5	3	e	e	NOUN
dem-8594	5	4	c	c	NOUN
dem-8594	5	5	o	o	X
dem-8594	6	1	n	n	INTJ
dem-8594	6	2	o	o	NOUN
dem-8594	6	3	m	m	VERB
dem-8594	7	1	e	e	NOUN
dem-8594	7	2	t	t	NOUN
dem-8594	7	3	r	r	NOUN
dem-8594	7	4	i	i	NOUN
dem-8594	7	5	c	c	NOUN
dem-8594	7	6	m	m	VERB
dem-8594	7	7	o	o	NOUN
dem-8594	7	8	d	d	X
dem-8594	7	9	e	e	X
dem-8594	7	10	l	l	NOUN
dem-8594	7	11	s	s	X
dem-8594	7	12	doi	doi	NOUN
dem-8594	7	13	:	:	PUNCT
dem-8594	7	14	http://dx.doi.org/10.12775/dem.2015.006	http://dx.doi.org/10.12775/dem.2015.006	ADJ
dem-8594	7	15	vol	vol	NOUN
dem-8594	7	16	.	.	PROPN
dem-8594	7	17	15	15	NUM
dem-8594	7	18	(	(	PUNCT
dem-8594	7	19	2015	2015	NUM
dem-8594	7	20	)	)	PUNCT
dem-8594	7	21	129−156	129−156	NUM
dem-8594	7	22	submitted	submit	VERB
dem-8594	7	23	october	october	PROPN
dem-8594	7	24	22	22	NUM
dem-8594	7	25	,	,	PUNCT
dem-8594	7	26	2015	2015	NUM
dem-8594	7	27	issn	issn	X
dem-8594	7	28	(	(	PUNCT
dem-8594	7	29	online	online	ADJ
dem-8594	7	30	)	)	PUNCT
dem-8594	7	31	2450	2450	NUM
dem-8594	7	32	-	-	SYM
dem-8594	7	33	7067	7067	NUM
dem-8594	7	34	accepted	accept	VERB
dem-8594	7	35	december	december	PROPN
dem-8594	7	36	15	15	NUM
dem-8594	7	37	,	,	PUNCT
dem-8594	7	38	2015	2015	NUM
dem-8594	7	39	issn	issn	X
dem-8594	7	40	(	(	PUNCT
dem-8594	7	41	print	print	NOUN
dem-8594	7	42	)	)	PUNCT
dem-8594	7	43	1234	1234	NUM
dem-8594	7	44	-	-	SYM
dem-8594	7	45	3862	3862	NUM
dem-8594	7	46	ewa	ewa	PROPN
dem-8594	7	47	ratuszny	ratuszny	NOUN
dem-8594	7	48	*	*	PUNCT
dem-8594	7	49	risk	risk	NOUN
dem-8594	7	50	modeling	modeling	NOUN
dem-8594	7	51	of	of	ADP
dem-8594	7	52	commodities	commodity	NOUN
dem-8594	7	53	using	use	VERB
dem-8594	7	54	caviar	caviar	NOUN
dem-8594	7	55	models	model	NOUN
dem-8594	7	56	,	,	PUNCT
dem-8594	7	57	the	the	DET
dem-8594	7	58	encompassing	encompass	VERB
dem-8594	7	59	method	method	NOUN
dem-8594	7	60	and	and	CCONJ
dem-8594	7	61	the	the	DET
dem-8594	7	62	combined	combine	VERB
dem-8594	7	63	forecasts	forecast	NOUN
dem-8594	7	64	a	a	DET
dem-8594	7	65	b	b	PROPN
dem-8594	7	66	s	s	ADP
dem-8594	7	67	t	t	PROPN
dem-8594	7	68	r	r	NOUN
dem-8594	7	69	a	a	DET
dem-8594	7	70	c	c	NOUN
dem-8594	7	71	t.	t.	NOUN
dem-8594	7	72	the	the	DET
dem-8594	7	73	aim	aim	NOUN
dem-8594	7	74	of	of	ADP
dem-8594	7	75	the	the	DET
dem-8594	7	76	research	research	NOUN
dem-8594	7	77	is	be	AUX
dem-8594	7	78	to	to	PART
dem-8594	7	79	compare	compare	VERB
dem-8594	7	80	var	var	NOUN
dem-8594	7	81	methods	method	NOUN
dem-8594	7	82	/	/	SYM
dem-8594	7	83	models	model	NOUN
dem-8594	7	84	for	for	ADP
dem-8594	7	85	commodities	commodity	NOUN
dem-8594	7	86	.	.	PUNCT
dem-8594	8	1	for	for	ADP
dem-8594	8	2	risk	risk	NOUN
dem-8594	8	3	measurement	measurement	NOUN
dem-8594	8	4	conditional	conditional	ADJ
dem-8594	8	5	autoregressive	autoregressive	ADJ
dem-8594	8	6	value	value	NOUN
dem-8594	8	7	at	at	ADP
dem-8594	8	8	risk	risk	NOUN
dem-8594	8	9	models	model	NOUN
dem-8594	8	10	(	(	PUNCT
dem-8594	8	11	caviar	caviar	PROPN
dem-8594	8	12	)	)	PUNCT
dem-8594	8	13	,	,	PUNCT
dem-8594	8	14	implied	imply	VERB
dem-8594	8	15	quantile	quantile	ADJ
dem-8594	8	16	model	model	NOUN
dem-8594	8	17	and	and	CCONJ
dem-8594	8	18	encompassing	encompass	VERB
dem-8594	8	19	method	method	NOUN
dem-8594	8	20	are	be	AUX
dem-8594	8	21	used	use	VERB
dem-8594	8	22	.	.	PUNCT
dem-8594	9	1	the	the	DET
dem-8594	9	2	aim	aim	NOUN
dem-8594	9	3	is	be	AUX
dem-8594	9	4	to	to	PART
dem-8594	9	5	check	check	VERB
dem-8594	9	6	whether	whether	SCONJ
dem-8594	9	7	simultaneous	simultaneous	ADJ
dem-8594	9	8	use	use	NOUN
dem-8594	9	9	of	of	ADP
dem-8594	9	10	information	information	NOUN
dem-8594	9	11	both	both	CCONJ
dem-8594	9	12	from	from	ADP
dem-8594	9	13	historical	historical	ADJ
dem-8594	9	14	time	time	NOUN
dem-8594	9	15	series	series	NOUN
dem-8594	9	16	and	and	CCONJ
dem-8594	9	17	regarding	regard	VERB
dem-8594	9	18	markets	market	NOUN
dem-8594	9	19	'	'	PART
dem-8594	9	20	expectation	expectation	NOUN
dem-8594	9	21	can	can	AUX
dem-8594	9	22	improve	improve	VERB
dem-8594	9	23	accuracy	accuracy	NOUN
dem-8594	9	24	of	of	ADP
dem-8594	9	25	forecasts	forecast	NOUN
dem-8594	9	26	.	.	PUNCT
dem-8594	10	1	for	for	ADP
dem-8594	10	2	this	this	DET
dem-8594	10	3	purpose	purpose	NOUN
dem-8594	10	4	four	four	NUM
dem-8594	10	5	methods	method	NOUN
dem-8594	10	6	of	of	ADP
dem-8594	10	7	combining	combine	VERB
dem-8594	10	8	forecasts	forecast	NOUN
dem-8594	10	9	are	be	AUX
dem-8594	10	10	used	use	VERB
dem-8594	10	11	:	:	PUNCT
dem-8594	10	12	a	a	DET
dem-8594	10	13	simple	simple	ADJ
dem-8594	10	14	average	average	ADJ
dem-8594	10	15	combining	combining	NOUN
dem-8594	10	16	,	,	PUNCT
dem-8594	10	17	an	an	DET
dem-8594	10	18	unrestricted	unrestricted	ADJ
dem-8594	10	19	linear	linear	ADJ
dem-8594	10	20	combination	combination	NOUN
dem-8594	10	21	,	,	PUNCT
dem-8594	10	22	a	a	DET
dem-8594	10	23	weighted	weight	VERB
dem-8594	10	24	averaged	average	VERB
dem-8594	10	25	combining	combine	VERB
dem-8594	10	26	and	and	CCONJ
dem-8594	10	27	a	a	DET
dem-8594	10	28	weighted	weight	VERB
dem-8594	10	29	averaged	average	VERB
dem-8594	10	30	combining	combine	VERB
dem-8594	10	31	using	use	VERB
dem-8594	10	32	exponential	exponential	ADJ
dem-8594	10	33	weighting	weighting	NOUN
dem-8594	10	34	.	.	PUNCT
dem-8594	11	1	in	in	ADP
dem-8594	11	2	the	the	DET
dem-8594	11	3	case	case	NOUN
dem-8594	11	4	of	of	ADP
dem-8594	11	5	the	the	DET
dem-8594	11	6	commodities	commodity	NOUN
dem-8594	11	7	neither	neither	CCONJ
dem-8594	11	8	the	the	DET
dem-8594	11	9	encompassing	encompass	VERB
dem-8594	11	10	method	method	NOUN
dem-8594	11	11	nor	nor	CCONJ
dem-8594	11	12	the	the	DET
dem-8594	11	13	combining	combine	VERB
dem-8594	11	14	forecast	forecast	NOUN
dem-8594	11	15	method	method	NOUN
dem-8594	11	16	improve	improve	VERB
dem-8594	11	17	var	var	NOUN
dem-8594	11	18	forecasts	forecast	NOUN
dem-8594	11	19	.	.	PUNCT
dem-8594	12	1	the	the	DET
dem-8594	12	2	method	method	NOUN
dem-8594	12	3	of	of	ADP
dem-8594	12	4	choosing	choose	VERB
dem-8594	12	5	the	the	DET
dem-8594	12	6	most	most	ADV
dem-8594	12	7	adequate	adequate	ADJ
dem-8594	12	8	model	model	NOUN
dem-8594	12	9	leads	lead	VERB
dem-8594	12	10	to	to	ADP
dem-8594	12	11	simple	simple	ADJ
dem-8594	12	12	caviar	caviar	ADJ
dem-8594	12	13	-	-	PUNCT
dem-8594	12	14	sav	sav	PROPN
dem-8594	12	15	model	model	NOUN
dem-8594	12	16	as	as	ADP
dem-8594	12	17	the	the	DET
dem-8594	12	18	source	source	NOUN
dem-8594	12	19	of	of	ADP
dem-8594	12	20	most	most	ADV
dem-8594	12	21	optimal	optimal	ADJ
dem-8594	12	22	measure	measure	NOUN
dem-8594	12	23	of	of	ADP
dem-8594	12	24	risk	risk	NOUN
dem-8594	12	25	forecasts	forecast	NOUN
dem-8594	12	26	.	.	PUNCT
dem-8594	13	1	the	the	DET
dem-8594	13	2	kupiec	kupiec	NOUN
dem-8594	13	3	test	test	NOUN
dem-8594	13	4	,	,	PUNCT
dem-8594	13	5	the	the	DET
dem-8594	13	6	christoffersen	christoffersen	NOUN
dem-8594	13	7	and	and	CCONJ
dem-8594	13	8	the	the	DET
dem-8594	13	9	dynamic	dynamic	ADJ
dem-8594	13	10	quantile	quantile	ADJ
dem-8594	13	11	test	test	NOUN
dem-8594	13	12	indicate	indicate	VERB
dem-8594	13	13	the	the	DET
dem-8594	13	14	model	model	NOUN
dem-8594	13	15	as	as	ADP
dem-8594	13	16	an	an	DET
dem-8594	13	17	adequate	adequate	ADJ
dem-8594	13	18	to	to	PART
dem-8594	13	19	forecast	forecast	VERB
dem-8594	13	20	var	var	NOUN
dem-8594	13	21	for	for	ADP
dem-8594	13	22	gold	gold	NOUN
dem-8594	13	23	and	and	CCONJ
dem-8594	13	24	oil	oil	NOUN
dem-8594	13	25	for	for	ADP
dem-8594	13	26	short	short	ADJ
dem-8594	13	27	positions	position	NOUN
dem-8594	13	28	at	at	ADP
dem-8594	13	29	the	the	DET
dem-8594	13	30	0.01	0.01	NUM
dem-8594	13	31	and	and	CCONJ
dem-8594	13	32	the	the	DET
dem-8594	13	33	0.05	0.05	NUM
dem-8594	13	34	significance	significance	NOUN
dem-8594	13	35	level	level	NOUN
dem-8594	13	36	,	,	PUNCT
dem-8594	13	37	and	and	CCONJ
dem-8594	13	38	for	for	ADP
dem-8594	13	39	a	a	DET
dem-8594	13	40	long	long	ADJ
dem-8594	13	41	position	position	NOUN
dem-8594	13	42	at	at	ADP
dem-8594	13	43	the	the	DET
dem-8594	13	44	0.05	0.05	NUM
dem-8594	13	45	significance	significance	NOUN
dem-8594	13	46	level	level	NOUN
dem-8594	13	47	.	.	PUNCT
dem-8594	14	1	k	k	X
dem-8594	14	2	e	e	PROPN
dem-8594	14	3	y	y	PROPN
dem-8594	14	4	w	w	NOUN
dem-8594	14	5	o	o	NOUN
dem-8594	14	6	r	r	NOUN
dem-8594	14	7	d	d	PROPN
dem-8594	14	8	s	s	NOUN
dem-8594	14	9	:	:	PUNCT
dem-8594	14	10	caviar	caviar	ADJ
dem-8594	14	11	,	,	PUNCT
dem-8594	14	12	var	var	NOUN
dem-8594	14	13	,	,	PUNCT
dem-8594	14	14	encompassing	encompass	VERB
dem-8594	14	15	method	method	NOUN
dem-8594	14	16	,	,	PUNCT
dem-8594	14	17	combined	combine	VERB
dem-8594	14	18	forecasts	forecast	NOUN
dem-8594	14	19	,	,	PUNCT
dem-8594	14	20	commodities	commodity	NOUN
dem-8594	14	21	j	j	NOUN
dem-8594	14	22	e	e	NOUN
dem-8594	14	23	l	l	NOUN
dem-8594	14	24	classification	classification	NOUN
dem-8594	14	25	:	:	PUNCT
dem-8594	14	26	c22	c22	NOUN
dem-8594	14	27	,	,	PUNCT
dem-8594	14	28	g17	g17	NOUN
dem-8594	14	29	.	.	PUNCT
dem-8594	15	1	introduction	introduction	NOUN
dem-8594	15	2	value	value	NOUN
dem-8594	15	3	at	at	ADP
dem-8594	15	4	risk	risk	NOUN
dem-8594	15	5	models	model	NOUN
dem-8594	15	6	should	should	AUX
dem-8594	15	7	provide	provide	VERB
dem-8594	15	8	an	an	DET
dem-8594	15	9	adequate	adequate	ADJ
dem-8594	15	10	risk	risk	NOUN
dem-8594	15	11	forecast	forecast	NOUN
dem-8594	15	12	both	both	CCONJ
dem-8594	15	13	in	in	ADP
dem-8594	15	14	stability	stability	NOUN
dem-8594	15	15	period	period	NOUN
dem-8594	15	16	and	and	CCONJ
dem-8594	15	17	in	in	ADP
dem-8594	15	18	period	period	NOUN
dem-8594	15	19	with	with	ADP
dem-8594	15	20	high	high	ADJ
dem-8594	15	21	volatility	volatility	NOUN
dem-8594	15	22	.	.	PUNCT
dem-8594	16	1	accurate	accurate	ADJ
dem-8594	16	2	assessment	assessment	NOUN
dem-8594	16	3	of	of	ADP
dem-8594	16	4	the	the	DET
dem-8594	16	5	risk	risk	NOUN
dem-8594	16	6	is	be	AUX
dem-8594	16	7	required	require	VERB
dem-8594	16	8	for	for	ADP
dem-8594	16	9	capital	capital	NOUN
dem-8594	16	10	management	management	NOUN
dem-8594	16	11	purpose	purpose	NOUN
dem-8594	16	12	,	,	PUNCT
dem-8594	16	13	limit	limit	NOUN
dem-8594	16	14	settings	setting	NOUN
dem-8594	16	15	and	and	CCONJ
dem-8594	16	16	position	position	NOUN
dem-8594	16	17	*	*	PUNCT
dem-8594	16	18	correspondence	correspondence	NOUN
dem-8594	16	19	to	to	ADP
dem-8594	16	20	:	:	PUNCT
dem-8594	16	21	ewa	ewa	PROPN
dem-8594	16	22	ratuszny	ratuszny	PROPN
dem-8594	16	23	,	,	PUNCT
dem-8594	16	24	warsaw	warsaw	PROPN
dem-8594	16	25	school	school	NOUN
dem-8594	16	26	of	of	ADP
dem-8594	16	27	economics	economic	NOUN
dem-8594	16	28	,	,	PUNCT
dem-8594	16	29	al	al	PROPN
dem-8594	16	30	.	.	PROPN
dem-8594	17	1	niepodległości	niepodległości	PROPN
dem-8594	17	2	162	162	NUM
dem-8594	17	3	,	,	PUNCT
dem-8594	17	4	02	02	NUM
dem-8594	17	5	-	-	SYM
dem-8594	17	6	554	554	NUM
dem-8594	17	7	warsaw	warsaw	NOUN
dem-8594	17	8	,	,	PUNCT
dem-8594	17	9	poland	poland	PROPN
dem-8594	17	10	,	,	PUNCT
dem-8594	17	11	e	e	NOUN
dem-8594	17	12	-	-	NOUN
dem-8594	17	13	mail	mail	NOUN
dem-8594	17	14	:	:	PUNCT
dem-8594	17	15	ewa.ratuszny@doktorant.sgh.waw.pl	ewa.ratuszny@doktorant.sgh.waw.pl	PROPN
dem-8594	17	16	ewa	ewa	PROPN
dem-8594	17	17	ratuszny	ratuszny	VERB
dem-8594	17	18	dynamic	dynamic	ADJ
dem-8594	17	19	econometric	econometric	ADJ
dem-8594	17	20	models	model	NOUN
dem-8594	17	21	15	15	NUM
dem-8594	17	22	(	(	PUNCT
dem-8594	17	23	2015	2015	NUM
dem-8594	17	24	)	)	PUNCT
dem-8594	17	25	129–156	129–156	NUM
dem-8594	17	26	130	130	NUM
dem-8594	17	27	management	management	NOUN
dem-8594	17	28	.	.	PUNCT
dem-8594	18	1	nowadays	nowadays	ADV
dem-8594	18	2	there	there	PRON
dem-8594	18	3	exist	exist	VERB
dem-8594	18	4	many	many	ADJ
dem-8594	18	5	risk	risk	NOUN
dem-8594	18	6	measurement	measurement	NOUN
dem-8594	18	7	methods	method	NOUN
dem-8594	18	8	but	but	CCONJ
dem-8594	18	9	none	none	NOUN
dem-8594	18	10	of	of	ADP
dem-8594	18	11	the	the	DET
dem-8594	18	12	models	model	NOUN
dem-8594	18	13	surpasses	surpass	VERB
dem-8594	18	14	the	the	DET
dem-8594	18	15	others	other	NOUN
dem-8594	18	16	.	.	PUNCT
dem-8594	19	1	this	this	DET
dem-8594	19	2	paper	paper	NOUN
dem-8594	19	3	extends	extend	VERB
dem-8594	19	4	research	research	NOUN
dem-8594	19	5	proposed	propose	VERB
dem-8594	19	6	by	by	ADP
dem-8594	19	7	jeon	jeon	PROPN
dem-8594	19	8	and	and	CCONJ
dem-8594	19	9	taylor	taylor	PROPN
dem-8594	19	10	(	(	PUNCT
dem-8594	19	11	2013	2013	NUM
dem-8594	19	12	)	)	PUNCT
dem-8594	19	13	for	for	ADP
dem-8594	19	14	commodities	commodity	NOUN
dem-8594	19	15	.	.	PUNCT
dem-8594	20	1	moreover	moreover	ADV
dem-8594	20	2	,	,	PUNCT
dem-8594	20	3	we	we	PRON
dem-8594	20	4	apply	apply	VERB
dem-8594	20	5	more	more	ADV
dem-8594	20	6	complex	complex	ADJ
dem-8594	20	7	way	way	NOUN
dem-8594	20	8	to	to	PART
dem-8594	20	9	compare	compare	VERB
dem-8594	20	10	var	var	NOUN
dem-8594	20	11	methods	method	NOUN
dem-8594	20	12	which	which	PRON
dem-8594	20	13	helps	help	VERB
dem-8594	20	14	to	to	PART
dem-8594	20	15	avoid	avoid	VERB
dem-8594	20	16	overestimation	overestimation	NOUN
dem-8594	20	17	and	and	CCONJ
dem-8594	20	18	underestimation	underestimation	NOUN
dem-8594	20	19	of	of	ADP
dem-8594	20	20	risk	risk	NOUN
dem-8594	20	21	.	.	PUNCT
dem-8594	21	1	value	value	NOUN
dem-8594	21	2	at	at	ADP
dem-8594	21	3	risk	risk	NOUN
dem-8594	21	4	is	be	AUX
dem-8594	21	5	defined	define	VERB
dem-8594	21	6	as	as	ADP
dem-8594	21	7	the	the	DET
dem-8594	21	8	maximum	maximum	ADJ
dem-8594	21	9	potential	potential	ADJ
dem-8594	21	10	loss	loss	NOUN
dem-8594	21	11	in	in	ADP
dem-8594	21	12	portfolio	portfolio	NOUN
dem-8594	21	13	value	value	NOUN
dem-8594	21	14	over	over	ADP
dem-8594	21	15	a	a	DET
dem-8594	21	16	given	give	VERB
dem-8594	21	17	time	time	NOUN
dem-8594	21	18	period	period	NOUN
dem-8594	21	19	due	due	ADP
dem-8594	21	20	to	to	ADP
dem-8594	21	21	adverse	adverse	ADJ
dem-8594	21	22	market	market	NOUN
dem-8594	21	23	movements	movement	NOUN
dem-8594	21	24	(	(	PUNCT
dem-8594	21	25	i.e.	i.e.	X
dem-8594	21	26	500	500	NUM
dem-8594	21	27	days	day	NOUN
dem-8594	21	28	)	)	PUNCT
dem-8594	21	29	,	,	PUNCT
dem-8594	21	30	with	with	ADP
dem-8594	21	31	a	a	DET
dem-8594	21	32	given	give	VERB
dem-8594	21	33	significance	significance	NOUN
dem-8594	21	34	level	level	NOUN
dem-8594	21	35	of	of	ADP
dem-8594	21	36	α	α	PROPN
dem-8594	21	37	(	(	PUNCT
dem-8594	21	38	doman	doman	PROPN
dem-8594	21	39	,	,	PUNCT
dem-8594	21	40	doman	doman	NOUN
dem-8594	21	41	,	,	PUNCT
dem-8594	21	42	2009	2009	NUM
dem-8594	21	43	;	;	PUNCT
dem-8594	21	44	iwaniczdrozdowska	iwaniczdrozdowska	NOUN
dem-8594	21	45	,	,	PUNCT
dem-8594	21	46	2005	2005	NUM
dem-8594	21	47	)	)	PUNCT
dem-8594	21	48	.	.	PUNCT
dem-8594	22	1	engle	engle	PROPN
dem-8594	22	2	and	and	CCONJ
dem-8594	22	3	manganelli	manganelli	PROPN
dem-8594	22	4	(	(	PUNCT
dem-8594	22	5	2004	2004	NUM
dem-8594	22	6	)	)	PUNCT
dem-8594	22	7	have	have	AUX
dem-8594	22	8	classified	classify	VERB
dem-8594	22	9	the	the	DET
dem-8594	22	10	existing	exist	VERB
dem-8594	22	11	var	var	NOUN
dem-8594	22	12	methods	method	NOUN
dem-8594	22	13	into	into	ADP
dem-8594	22	14	three	three	NUM
dem-8594	22	15	broad	broad	ADJ
dem-8594	22	16	categories	category	NOUN
dem-8594	22	17	:	:	PUNCT
dem-8594	22	18	parametric	parametric	ADJ
dem-8594	22	19	,	,	PUNCT
dem-8594	22	20	semiparametric	semiparametric	NOUN
dem-8594	22	21	and	and	CCONJ
dem-8594	22	22	nonparametric	nonparametric	NOUN
dem-8594	22	23	.	.	PUNCT
dem-8594	23	1	parametric	parametric	ADJ
dem-8594	23	2	approach	approach	NOUN
dem-8594	23	3	includes	include	VERB
dem-8594	23	4	riskmetrics	riskmetric	NOUN
dem-8594	23	5	methodology	methodology	NOUN
dem-8594	23	6	and	and	CCONJ
dem-8594	23	7	garch	garch	NOUN
dem-8594	23	8	models	model	NOUN
dem-8594	23	9	(	(	PUNCT
dem-8594	23	10	piontek	piontek	NOUN
dem-8594	23	11	,	,	PUNCT
dem-8594	23	12	2000	2000	NUM
dem-8594	23	13	;	;	PUNCT
dem-8594	23	14	fiszeder	fiszeder	NOUN
dem-8594	23	15	,	,	PUNCT
dem-8594	23	16	2009	2009	NUM
dem-8594	23	17	;	;	PUNCT
dem-8594	23	18	jajuga	jajuga	PROPN
dem-8594	23	19	,	,	PUNCT
dem-8594	23	20	2011	2011	NUM
dem-8594	23	21	;	;	PUNCT
dem-8594	23	22	mazur	mazur	PROPN
dem-8594	23	23	,	,	PUNCT
dem-8594	23	24	pipień	pipień	NOUN
dem-8594	23	25	,	,	PUNCT
dem-8594	23	26	2012	2012	NUM
dem-8594	23	27	)	)	PUNCT
dem-8594	23	28	,	,	PUNCT
dem-8594	23	29	but	but	CCONJ
dem-8594	23	30	the	the	DET
dem-8594	23	31	weakness	weakness	NOUN
dem-8594	23	32	of	of	ADP
dem-8594	23	33	those	those	DET
dem-8594	23	34	methods	method	NOUN
dem-8594	23	35	lies	lie	VERB
dem-8594	23	36	in	in	ADP
dem-8594	23	37	possibility	possibility	NOUN
dem-8594	23	38	of	of	ADP
dem-8594	23	39	incorrect	incorrect	ADJ
dem-8594	23	40	specification	specification	NOUN
dem-8594	23	41	both	both	PRON
dem-8594	23	42	of	of	ADP
dem-8594	23	43	variance	variance	NOUN
dem-8594	23	44	model	model	NOUN
dem-8594	23	45	and	and	CCONJ
dem-8594	23	46	the	the	DET
dem-8594	23	47	error	error	NOUN
dem-8594	23	48	distribution	distribution	NOUN
dem-8594	23	49	.	.	PUNCT
dem-8594	24	1	an	an	DET
dem-8594	24	2	interesting	interesting	ADJ
dem-8594	24	3	parametric	parametric	ADJ
dem-8594	24	4	method	method	NOUN
dem-8594	24	5	,	,	PUNCT
dem-8594	24	6	which	which	PRON
dem-8594	24	7	becomes	become	VERB
dem-8594	24	8	increasingly	increasingly	ADV
dem-8594	24	9	popular	popular	ADJ
dem-8594	24	10	,	,	PUNCT
dem-8594	24	11	is	be	AUX
dem-8594	24	12	based	base	VERB
dem-8594	24	13	on	on	ADP
dem-8594	24	14	implied	imply	VERB
dem-8594	24	15	volatility	volatility	NOUN
dem-8594	24	16	.	.	PUNCT
dem-8594	25	1	implied	imply	VERB
dem-8594	25	2	volatility	volatility	NOUN
dem-8594	25	3	is	be	AUX
dem-8594	25	4	the	the	DET
dem-8594	25	5	expectation	expectation	NOUN
dem-8594	25	6	of	of	ADP
dem-8594	25	7	volatility	volatility	NOUN
dem-8594	25	8	implied	imply	VERB
dem-8594	25	9	by	by	ADP
dem-8594	25	10	the	the	DET
dem-8594	25	11	option	option	NOUN
dem-8594	25	12	market	market	NOUN
dem-8594	25	13	(	(	PUNCT
dem-8594	25	14	chong	chong	PROPN
dem-8594	25	15	,	,	PUNCT
dem-8594	25	16	2004	2004	NUM
dem-8594	25	17	;	;	PUNCT
dem-8594	25	18	christoffersen	christoffersen	VERB
dem-8594	25	19	,	,	PUNCT
dem-8594	25	20	mazzotta	mazzotta	NOUN
dem-8594	25	21	,	,	PUNCT
dem-8594	25	22	2005	2005	NUM
dem-8594	25	23	;	;	PUNCT
dem-8594	25	24	giot	giot	NOUN
dem-8594	25	25	,	,	PUNCT
dem-8594	25	26	2005	2005	NUM
dem-8594	25	27	)	)	PUNCT
dem-8594	25	28	.	.	PUNCT
dem-8594	26	1	the	the	DET
dem-8594	26	2	most	most	ADV
dem-8594	26	3	common	common	ADJ
dem-8594	26	4	nonparametric	nonparametric	NOUN
dem-8594	26	5	approach	approach	NOUN
dem-8594	26	6	is	be	AUX
dem-8594	26	7	the	the	DET
dem-8594	26	8	historical	historical	ADJ
dem-8594	26	9	simulation	simulation	NOUN
dem-8594	26	10	,	,	PUNCT
dem-8594	26	11	used	use	VERB
dem-8594	26	12	by	by	ADP
dem-8594	26	13	about	about	ADV
dem-8594	26	14	73	73	NUM
dem-8594	26	15	%	%	NOUN
dem-8594	26	16	of	of	ADP
dem-8594	26	17	banks	bank	NOUN
dem-8594	26	18	(	(	PUNCT
dem-8594	26	19	pérignon	pérignon	NOUN
dem-8594	26	20	,	,	PUNCT
dem-8594	26	21	smith	smith	PROPN
dem-8594	26	22	,	,	PUNCT
dem-8594	26	23	2010	2010	NUM
dem-8594	26	24	)	)	PUNCT
dem-8594	26	25	.	.	PUNCT
dem-8594	27	1	the	the	DET
dem-8594	27	2	main	main	ADJ
dem-8594	27	3	advantage	advantage	NOUN
dem-8594	27	4	is	be	AUX
dem-8594	27	5	that	that	SCONJ
dem-8594	27	6	the	the	DET
dem-8594	27	7	historical	historical	ADJ
dem-8594	27	8	var	var	NOUN
dem-8594	27	9	does	do	AUX
dem-8594	27	10	not	not	PART
dem-8594	27	11	require	require	VERB
dem-8594	27	12	an	an	DET
dem-8594	27	13	assumption	assumption	NOUN
dem-8594	27	14	about	about	ADP
dem-8594	27	15	parametric	parametric	ADJ
dem-8594	27	16	form	form	NOUN
dem-8594	27	17	of	of	ADP
dem-8594	27	18	the	the	DET
dem-8594	27	19	distribution	distribution	NOUN
dem-8594	27	20	of	of	ADP
dem-8594	27	21	the	the	DET
dem-8594	27	22	risk	risk	NOUN
dem-8594	27	23	factor	factor	NOUN
dem-8594	27	24	returns	return	NOUN
dem-8594	27	25	.	.	PUNCT
dem-8594	28	1	nevertheless	nevertheless	ADV
dem-8594	28	2	the	the	DET
dem-8594	28	3	var	var	PROPN
dem-8594	28	4	forecast	forecast	NOUN
dem-8594	28	5	might	might	AUX
dem-8594	28	6	be	be	AUX
dem-8594	28	7	inaccurate	inaccurate	ADJ
dem-8594	28	8	due	due	ADP
dem-8594	28	9	to	to	ADP
dem-8594	28	10	inadequate	inadequate	ADJ
dem-8594	28	11	rolling	rolling	ADJ
dem-8594	28	12	window	window	NOUN
dem-8594	28	13	of	of	ADP
dem-8594	28	14	risk	risk	NOUN
dem-8594	28	15	factors	factor	NOUN
dem-8594	28	16	(	(	PUNCT
dem-8594	28	17	boudoukh	boudoukh	NOUN
dem-8594	28	18	et	et	PROPN
dem-8594	28	19	al	al	PROPN
dem-8594	28	20	.	.	PROPN
dem-8594	28	21	,	,	PUNCT
dem-8594	28	22	1998	1998	NUM
dem-8594	28	23	)	)	PUNCT
dem-8594	28	24	.	.	PUNCT
dem-8594	29	1	a	a	DET
dem-8594	29	2	long	long	ADJ
dem-8594	29	3	data	datum	NOUN
dem-8594	29	4	history	history	NOUN
dem-8594	29	5	will	will	AUX
dem-8594	29	6	typically	typically	ADV
dem-8594	29	7	encompass	encompass	VERB
dem-8594	29	8	several	several	ADJ
dem-8594	29	9	regimes	regime	NOUN
dem-8594	29	10	with	with	ADP
dem-8594	29	11	different	different	ADJ
dem-8594	29	12	behavior	behavior	NOUN
dem-8594	29	13	of	of	ADP
dem-8594	29	14	market	market	NOUN
dem-8594	29	15	risk	risk	NOUN
dem-8594	29	16	factors	factor	NOUN
dem-8594	29	17	.	.	PUNCT
dem-8594	30	1	boudoukh	boudoukh	NOUN
dem-8594	30	2	et	et	PROPN
dem-8594	30	3	al	al	PROPN
dem-8594	30	4	.	.	PUNCT
dem-8594	31	1	(	(	PUNCT
dem-8594	31	2	1998	1998	NUM
dem-8594	31	3	)	)	PUNCT
dem-8594	31	4	,	,	PUNCT
dem-8594	31	5	mittnik	mittnik	NOUN
dem-8594	31	6	and	and	CCONJ
dem-8594	31	7	paolella	paolella	NOUN
dem-8594	31	8	(	(	PUNCT
dem-8594	31	9	2000	2000	NUM
dem-8594	31	10	)	)	PUNCT
dem-8594	31	11	and	and	CCONJ
dem-8594	31	12	taylor	taylor	PROPN
dem-8594	31	13	(	(	PUNCT
dem-8594	31	14	2008	2008	NUM
dem-8594	31	15	)	)	PUNCT
dem-8594	31	16	propose	propose	VERB
dem-8594	31	17	to	to	PART
dem-8594	31	18	apply	apply	VERB
dem-8594	31	19	exponentially	exponentially	ADV
dem-8594	31	20	weighted	weight	VERB
dem-8594	31	21	approaches	approach	NOUN
dem-8594	31	22	to	to	ADP
dem-8594	31	23	var	var	NOUN
dem-8594	31	24	estimation	estimation	NOUN
dem-8594	31	25	to	to	PART
dem-8594	31	26	overcome	overcome	VERB
dem-8594	31	27	those	those	DET
dem-8594	31	28	difficulties	difficulty	NOUN
dem-8594	31	29	.	.	PUNCT
dem-8594	32	1	in	in	ADP
dem-8594	32	2	our	our	PRON
dem-8594	32	3	research	research	NOUN
dem-8594	32	4	we	we	PRON
dem-8594	32	5	apply	apply	VERB
dem-8594	32	6	semiparametric	semiparametric	NOUN
dem-8594	32	7	approach	approach	NOUN
dem-8594	32	8	based	base	VERB
dem-8594	32	9	on	on	ADP
dem-8594	32	10	conditional	conditional	ADJ
dem-8594	32	11	autoregressive	autoregressive	ADJ
dem-8594	32	12	value	value	NOUN
dem-8594	32	13	at	at	ADP
dem-8594	32	14	risk	risk	NOUN
dem-8594	32	15	models	model	NOUN
dem-8594	32	16	(	(	PUNCT
dem-8594	32	17	caviar	caviar	PROPN
dem-8594	32	18	)	)	PUNCT
dem-8594	32	19	.	.	PUNCT
dem-8594	33	1	engle	engle	PROPN
dem-8594	33	2	and	and	CCONJ
dem-8594	33	3	manganelli	manganelli	PROPN
dem-8594	33	4	(	(	PUNCT
dem-8594	33	5	2004	2004	NUM
dem-8594	33	6	)	)	PUNCT
dem-8594	33	7	have	have	VERB
dem-8594	33	8	proposed	propose	VERB
dem-8594	33	9	models	model	NOUN
dem-8594	33	10	that	that	PRON
dem-8594	33	11	derive	derive	VERB
dem-8594	33	12	a	a	DET
dem-8594	33	13	time	time	NOUN
dem-8594	33	14	-	-	PUNCT
dem-8594	33	15	varying	vary	VERB
dem-8594	33	16	var	var	NOUN
dem-8594	33	17	directly	directly	ADV
dem-8594	33	18	via	via	ADP
dem-8594	33	19	autoregression	autoregression	NOUN
dem-8594	33	20	.	.	PUNCT
dem-8594	34	1	the	the	DET
dem-8594	34	2	models	model	NOUN
dem-8594	34	3	are	be	AUX
dem-8594	34	4	estimated	estimate	VERB
dem-8594	34	5	using	use	VERB
dem-8594	34	6	robust	robust	ADJ
dem-8594	34	7	method	method	NOUN
dem-8594	34	8	,	,	PUNCT
dem-8594	34	9	i.e.	i.e.	X
dem-8594	34	10	a	a	DET
dem-8594	34	11	nonlinear	nonlinear	ADJ
dem-8594	34	12	quantile	quantile	ADJ
dem-8594	34	13	regression	regression	NOUN
dem-8594	34	14	proposed	propose	VERB
dem-8594	34	15	by	by	ADP
dem-8594	34	16	koenker	koenker	NOUN
dem-8594	34	17	and	and	CCONJ
dem-8594	34	18	bassett	bassett	PROPN
dem-8594	34	19	(	(	PUNCT
dem-8594	34	20	1978	1978	NUM
dem-8594	34	21	)	)	PUNCT
dem-8594	34	22	.	.	PUNCT
dem-8594	35	1	the	the	DET
dem-8594	35	2	robust	robust	ADJ
dem-8594	35	3	approach	approach	NOUN
dem-8594	35	4	is	be	AUX
dem-8594	35	5	widely	widely	ADV
dem-8594	35	6	applied	apply	VERB
dem-8594	35	7	in	in	ADP
dem-8594	35	8	risk	risk	NOUN
dem-8594	35	9	measurement	measurement	NOUN
dem-8594	35	10	,	,	PUNCT
dem-8594	35	11	hedging	hedging	NOUN
dem-8594	35	12	and	and	CCONJ
dem-8594	35	13	portfolio	portfolio	NOUN
dem-8594	35	14	allocation	allocation	NOUN
dem-8594	35	15	(	(	PUNCT
dem-8594	35	16	taylor	taylor	PROPN
dem-8594	35	17	,	,	PUNCT
dem-8594	35	18	1999	1999	NUM
dem-8594	35	19	;	;	PUNCT
dem-8594	35	20	umantsev	umantsev	ADJ
dem-8594	35	21	,	,	PUNCT
dem-8594	35	22	chernozhukov	chernozhukov	NOUN
dem-8594	35	23	,	,	PUNCT
dem-8594	35	24	2001	2001	NUM
dem-8594	35	25	)	)	PUNCT
dem-8594	35	26	.	.	PUNCT
dem-8594	36	1	this	this	DET
dem-8594	36	2	approach	approach	NOUN
dem-8594	36	3	allows	allow	VERB
dem-8594	36	4	the	the	DET
dem-8594	36	5	shape	shape	NOUN
dem-8594	36	6	of	of	ADP
dem-8594	36	7	the	the	DET
dem-8594	36	8	conditional	conditional	ADJ
dem-8594	36	9	returns	return	NOUN
dem-8594	36	10	distributions	distribution	NOUN
dem-8594	36	11	to	to	PART
dem-8594	36	12	vary	vary	VERB
dem-8594	36	13	in	in	ADP
dem-8594	36	14	time	time	NOUN
dem-8594	36	15	,	,	PUNCT
dem-8594	36	16	and	and	CCONJ
dem-8594	36	17	for	for	SCONJ
dem-8594	36	18	the	the	DET
dem-8594	36	19	time	time	NOUN
dem-8594	36	20	-	-	PUNCT
dem-8594	36	21	variation	variation	NOUN
dem-8594	36	22	to	to	PART
dem-8594	36	23	differ	differ	VERB
dem-8594	36	24	for	for	ADP
dem-8594	36	25	the	the	DET
dem-8594	36	26	different	different	ADJ
dem-8594	36	27	quantiles	quantile	NOUN
dem-8594	36	28	of	of	ADP
dem-8594	36	29	distribution	distribution	NOUN
dem-8594	36	30	(	(	PUNCT
dem-8594	36	31	jeon	jeon	PROPN
dem-8594	36	32	,	,	PUNCT
dem-8594	36	33	taylor	taylor	PROPN
dem-8594	36	34	,	,	PUNCT
dem-8594	36	35	2013	2013	NUM
dem-8594	36	36	)	)	PUNCT
dem-8594	36	37	.	.	PUNCT
dem-8594	37	1	the	the	DET
dem-8594	37	2	autoregressive	autoregressive	ADJ
dem-8594	37	3	structure	structure	NOUN
dem-8594	37	4	is	be	AUX
dem-8594	37	5	adequate	adequate	ADJ
dem-8594	37	6	in	in	ADP
dem-8594	37	7	case	case	NOUN
dem-8594	37	8	of	of	ADP
dem-8594	37	9	clustered	clustered	ADJ
dem-8594	37	10	time	time	NOUN
dem-8594	37	11	series	series	NOUN
dem-8594	37	12	.	.	PUNCT
dem-8594	38	1	the	the	DET
dem-8594	38	2	previous	previous	ADJ
dem-8594	38	3	researches	research	NOUN
dem-8594	38	4	by	by	ADP
dem-8594	38	5	ratuszny	ratuszny	NOUN
dem-8594	38	6	(	(	PUNCT
dem-8594	38	7	2013	2013	NUM
dem-8594	38	8	)	)	PUNCT
dem-8594	38	9	,	,	PUNCT
dem-8594	38	10	risk	risk	NOUN
dem-8594	38	11	modeling	modeling	NOUN
dem-8594	38	12	of	of	ADP
dem-8594	38	13	commodities	commodity	NOUN
dem-8594	38	14	using	use	VERB
dem-8594	38	15	caviar	caviar	NOUN
dem-8594	38	16	models	model	NOUN
dem-8594	38	17	…	…	PUNCT
dem-8594	38	18	dynamic	dynamic	ADJ
dem-8594	38	19	econometric	econometric	ADJ
dem-8594	38	20	models	model	NOUN
dem-8594	38	21	15	15	NUM
dem-8594	38	22	(	(	PUNCT
dem-8594	38	23	2015	2015	NUM
dem-8594	38	24	)	)	PUNCT
dem-8594	38	25	129–156	129–156	NUM
dem-8594	38	26	131	131	NUM
dem-8594	38	27	ratuszny	ratuszny	NOUN
dem-8594	38	28	(	(	PUNCT
dem-8594	38	29	2015	2015	NUM
dem-8594	38	30	)	)	PUNCT
dem-8594	38	31	indicated	indicate	VERB
dem-8594	38	32	that	that	SCONJ
dem-8594	38	33	caviar	caviar	NOUN
dem-8594	38	34	models	model	NOUN
dem-8594	38	35	successfuly	successfuly	ADV
dem-8594	38	36	compete	compete	VERB
dem-8594	38	37	with	with	ADP
dem-8594	38	38	other	other	ADJ
dem-8594	38	39	var	var	NOUN
dem-8594	38	40	methods	method	NOUN
dem-8594	38	41	.	.	PUNCT
dem-8594	39	1	jeon	jeon	PROPN
dem-8594	39	2	and	and	CCONJ
dem-8594	39	3	taylor	taylor	PROPN
dem-8594	39	4	(	(	PUNCT
dem-8594	39	5	2013	2013	NUM
dem-8594	39	6	)	)	PUNCT
dem-8594	39	7	proposed	propose	VERB
dem-8594	39	8	to	to	PART
dem-8594	39	9	combine	combine	VERB
dem-8594	39	10	quantile	quantile	ADJ
dem-8594	39	11	forecasts	forecast	NOUN
dem-8594	39	12	–	–	PUNCT
dem-8594	39	13	elaborated	elaborate	VERB
dem-8594	39	14	above	above	ADP
dem-8594	39	15	25	25	NUM
dem-8594	39	16	year	year	NOUN
dem-8594	39	17	ago	ago	ADV
dem-8594	39	18	by	by	ADP
dem-8594	39	19	granger	granger	PROPN
dem-8594	39	20	(	(	PUNCT
dem-8594	39	21	1989	1989	NUM
dem-8594	39	22	)	)	PUNCT
dem-8594	39	23	and	and	CCONJ
dem-8594	39	24	granger	granger	PROPN
dem-8594	39	25	,	,	PUNCT
dem-8594	39	26	white	white	ADJ
dem-8594	39	27	and	and	CCONJ
dem-8594	39	28	kamstra	kamstra	PROPN
dem-8594	39	29	(	(	PUNCT
dem-8594	39	30	1989	1989	NUM
dem-8594	39	31	)	)	PUNCT
dem-8594	39	32	.	.	PUNCT
dem-8594	40	1	in	in	ADP
dem-8594	40	2	their	their	PRON
dem-8594	40	3	approach	approach	NOUN
dem-8594	40	4	the	the	DET
dem-8594	40	5	quantile	quantile	ADJ
dem-8594	40	6	forecasts	forecast	NOUN
dem-8594	40	7	,	,	PUNCT
dem-8594	40	8	obtained	obtain	VERB
dem-8594	40	9	from	from	ADP
dem-8594	40	10	caviar	caviar	NOUN
dem-8594	40	11	models	model	NOUN
dem-8594	40	12	and	and	CCONJ
dem-8594	40	13	from	from	ADP
dem-8594	40	14	method	method	NOUN
dem-8594	40	15	based	base	VERB
dem-8594	40	16	on	on	ADP
dem-8594	40	17	implied	imply	VERB
dem-8594	40	18	volatility	volatility	NOUN
dem-8594	40	19	,	,	PUNCT
dem-8594	40	20	are	be	AUX
dem-8594	40	21	combined	combine	VERB
dem-8594	40	22	.	.	PUNCT
dem-8594	41	1	they	they	PRON
dem-8594	41	2	applied	apply	VERB
dem-8594	41	3	their	their	PRON
dem-8594	41	4	method	method	NOUN
dem-8594	41	5	not	not	PART
dem-8594	41	6	to	to	ADP
dem-8594	41	7	economic	economic	ADJ
dem-8594	41	8	indicators	indicator	NOUN
dem-8594	41	9	but	but	CCONJ
dem-8594	41	10	to	to	PART
dem-8594	41	11	risk	risk	VERB
dem-8594	41	12	measurement	measurement	NOUN
dem-8594	41	13	of	of	ADP
dem-8594	41	14	position	position	NOUN
dem-8594	41	15	in	in	ADP
dem-8594	41	16	equity	equity	NOUN
dem-8594	41	17	indices	index	NOUN
dem-8594	41	18	such	such	ADJ
dem-8594	41	19	as	as	ADP
dem-8594	41	20	s&p500	s&p500	NOUN
dem-8594	41	21	and	and	CCONJ
dem-8594	41	22	dax30	dax30	PROPN
dem-8594	41	23	.	.	PUNCT
dem-8594	42	1	moreover	moreover	ADV
dem-8594	42	2	,	,	PUNCT
dem-8594	42	3	they	they	PRON
dem-8594	42	4	included	include	VERB
dem-8594	42	5	in	in	ADP
dem-8594	42	6	the	the	DET
dem-8594	42	7	caviar	caviar	NOUN
dem-8594	42	8	models	model	NOUN
dem-8594	42	9	an	an	DET
dem-8594	42	10	additional	additional	ADJ
dem-8594	42	11	regressor	regressor	NOUN
dem-8594	42	12	:	:	PUNCT
dem-8594	42	13	a	a	DET
dem-8594	42	14	quantiles	quantile	NOUN
dem-8594	42	15	predictor	predictor	NOUN
dem-8594	42	16	based	base	VERB
dem-8594	42	17	on	on	ADP
dem-8594	42	18	implied	imply	VERB
dem-8594	42	19	volatility	volatility	NOUN
dem-8594	42	20	(	(	PUNCT
dem-8594	42	21	encompassing	encompass	VERB
dem-8594	42	22	method	method	NOUN
dem-8594	42	23	)	)	PUNCT
dem-8594	42	24	.	.	PUNCT
dem-8594	43	1	the	the	DET
dem-8594	43	2	authors	author	NOUN
dem-8594	43	3	concluded	conclude	VERB
dem-8594	43	4	that	that	SCONJ
dem-8594	43	5	linear	linear	NOUN
dem-8594	43	6	combining	combine	VERB
dem-8594	43	7	method	method	NOUN
dem-8594	43	8	and	and	CCONJ
dem-8594	43	9	arithmetical	arithmetical	ADJ
dem-8594	43	10	method	method	NOUN
dem-8594	43	11	generate	generate	VERB
dem-8594	43	12	better	well	ADJ
dem-8594	43	13	forecast	forecast	NOUN
dem-8594	43	14	over	over	ADP
dem-8594	43	15	the	the	DET
dem-8594	43	16	sample	sample	NOUN
dem-8594	43	17	.	.	PUNCT
dem-8594	44	1	the	the	DET
dem-8594	44	2	observation	observation	NOUN
dem-8594	44	3	motivated	motivate	VERB
dem-8594	44	4	us	we	PRON
dem-8594	44	5	to	to	PART
dem-8594	44	6	apply	apply	VERB
dem-8594	44	7	their	their	PRON
dem-8594	44	8	approach	approach	NOUN
dem-8594	44	9	to	to	ADP
dem-8594	44	10	commodities	commodity	NOUN
dem-8594	44	11	.	.	PUNCT
dem-8594	45	1	the	the	DET
dem-8594	45	2	polish	polish	NOUN
dem-8594	45	3	researches	research	VERB
dem-8594	45	4	on	on	ADP
dem-8594	45	5	combined	combine	VERB
dem-8594	45	6	forecast	forecast	NOUN
dem-8594	45	7	performed	perform	VERB
dem-8594	45	8	by	by	ADP
dem-8594	45	9	grajek	grajek	NOUN
dem-8594	45	10	(	(	PUNCT
dem-8594	45	11	2002	2002	NUM
dem-8594	45	12	)	)	PUNCT
dem-8594	45	13	,	,	PUNCT
dem-8594	45	14	greszta	greszta	NOUN
dem-8594	45	15	,	,	PUNCT
dem-8594	45	16	maciejewski	maciejewski	ADJ
dem-8594	45	17	(	(	PUNCT
dem-8594	45	18	2005	2005	NUM
dem-8594	45	19	)	)	PUNCT
dem-8594	45	20	,	,	PUNCT
dem-8594	45	21	piłatowska	piłatowska	NOUN
dem-8594	45	22	(	(	PUNCT
dem-8594	45	23	2009	2009	NUM
dem-8594	45	24	)	)	PUNCT
dem-8594	45	25	have	have	AUX
dem-8594	45	26	also	also	ADV
dem-8594	45	27	indicated	indicate	VERB
dem-8594	45	28	the	the	DET
dem-8594	45	29	predominance	predominance	NOUN
dem-8594	45	30	of	of	ADP
dem-8594	45	31	combined	combined	ADJ
dem-8594	45	32	forecasts	forecast	NOUN
dem-8594	45	33	over	over	ADP
dem-8594	45	34	the	the	DET
dem-8594	45	35	method	method	NOUN
dem-8594	45	36	based	base	VERB
dem-8594	45	37	on	on	ADP
dem-8594	45	38	single	single	ADJ
dem-8594	45	39	approach	approach	NOUN
dem-8594	45	40	.	.	PUNCT
dem-8594	46	1	in	in	ADP
dem-8594	46	2	our	our	PRON
dem-8594	46	3	research	research	NOUN
dem-8594	46	4	we	we	PRON
dem-8594	46	5	apply	apply	VERB
dem-8594	46	6	caviar	caviar	NOUN
dem-8594	46	7	models	model	NOUN
dem-8594	46	8	,	,	PUNCT
dem-8594	46	9	the	the	DET
dem-8594	46	10	encompassing	encompass	VERB
dem-8594	46	11	method	method	NOUN
dem-8594	46	12	and	and	CCONJ
dem-8594	46	13	four	four	NUM
dem-8594	46	14	combining	combine	VERB
dem-8594	46	15	forecast	forecast	NOUN
dem-8594	46	16	methods	method	NOUN
dem-8594	46	17	:	:	PUNCT
dem-8594	46	18	simple	simple	ADJ
dem-8594	46	19	average	average	ADJ
dem-8594	46	20	combining	combining	NOUN
dem-8594	46	21	,	,	PUNCT
dem-8594	46	22	unrestricted	unrestricted	ADJ
dem-8594	46	23	linear	linear	ADJ
dem-8594	46	24	combination	combination	NOUN
dem-8594	46	25	,	,	PUNCT
dem-8594	46	26	weighted	weight	VERB
dem-8594	46	27	averaged	average	VERB
dem-8594	46	28	combining	combine	VERB
dem-8594	46	29	and	and	CCONJ
dem-8594	46	30	weighted	weight	VERB
dem-8594	46	31	averaged	average	VERB
dem-8594	46	32	combining	combine	VERB
dem-8594	46	33	optimized	optimize	VERB
dem-8594	46	34	using	use	VERB
dem-8594	46	35	exponential	exponential	ADJ
dem-8594	46	36	weighting	weighting	NOUN
dem-8594	46	37	.	.	PUNCT
dem-8594	47	1	we	we	PRON
dem-8594	47	2	try	try	VERB
dem-8594	47	3	to	to	PART
dem-8594	47	4	verify	verify	VERB
dem-8594	47	5	the	the	DET
dem-8594	47	6	following	follow	VERB
dem-8594	47	7	hypothesis	hypothesis	NOUN
dem-8594	47	8	:	:	PUNCT
dem-8594	47	9	the	the	DET
dem-8594	47	10	encompassing	encompass	VERB
dem-8594	47	11	method	method	NOUN
dem-8594	47	12	or	or	CCONJ
dem-8594	47	13	combining	combine	VERB
dem-8594	47	14	forecast	forecast	NOUN
dem-8594	47	15	methods	method	NOUN
dem-8594	47	16	based	base	VERB
dem-8594	47	17	on	on	ADP
dem-8594	47	18	caviar	caviar	NOUN
dem-8594	47	19	models	model	NOUN
dem-8594	47	20	and	and	CCONJ
dem-8594	47	21	implied	imply	VERB
dem-8594	47	22	quantile	quantile	ADJ
dem-8594	47	23	model	model	NOUN
dem-8594	47	24	improve	improve	VERB
dem-8594	47	25	accuracy	accuracy	NOUN
dem-8594	47	26	of	of	ADP
dem-8594	47	27	var	var	NOUN
dem-8594	47	28	for	for	ADP
dem-8594	47	29	commodities	commodity	NOUN
dem-8594	47	30	.	.	PUNCT
dem-8594	48	1	the	the	DET
dem-8594	48	2	paper	paper	NOUN
dem-8594	48	3	is	be	AUX
dem-8594	48	4	organized	organize	VERB
dem-8594	48	5	as	as	SCONJ
dem-8594	48	6	follows	follow	VERB
dem-8594	48	7	.	.	PUNCT
dem-8594	49	1	firstly	firstly	ADV
dem-8594	49	2	,	,	PUNCT
dem-8594	49	3	we	we	PRON
dem-8594	49	4	review	review	VERB
dem-8594	49	5	value	value	NOUN
dem-8594	49	6	at	at	ADP
dem-8594	49	7	risk	risk	NOUN
dem-8594	49	8	methodology	methodology	NOUN
dem-8594	49	9	based	base	VERB
dem-8594	49	10	on	on	ADP
dem-8594	49	11	caviar	caviar	NOUN
dem-8594	49	12	models	model	NOUN
dem-8594	49	13	,	,	PUNCT
dem-8594	49	14	implied	imply	VERB
dem-8594	49	15	quantile	quantile	NOUN
dem-8594	49	16	,	,	PUNCT
dem-8594	49	17	encompassing	encompass	VERB
dem-8594	49	18	method	method	NOUN
dem-8594	49	19	and	and	CCONJ
dem-8594	49	20	combining	combine	VERB
dem-8594	49	21	forecast	forecast	NOUN
dem-8594	49	22	methodology	methodology	NOUN
dem-8594	49	23	.	.	PUNCT
dem-8594	50	1	the	the	DET
dem-8594	50	2	part	part	NOUN
dem-8594	50	3	contains	contain	VERB
dem-8594	50	4	also	also	ADV
dem-8594	50	5	the	the	DET
dem-8594	50	6	performance	performance	NOUN
dem-8594	50	7	criteria	criterion	NOUN
dem-8594	50	8	.	.	PUNCT
dem-8594	51	1	the	the	DET
dem-8594	51	2	second	second	ADJ
dem-8594	51	3	part	part	NOUN
dem-8594	51	4	contains	contain	VERB
dem-8594	51	5	empirical	empirical	ADJ
dem-8594	51	6	applications	application	NOUN
dem-8594	51	7	of	of	ADP
dem-8594	51	8	the	the	DET
dem-8594	51	9	models	model	NOUN
dem-8594	51	10	.	.	PUNCT
dem-8594	52	1	the	the	DET
dem-8594	52	2	last	last	ADJ
dem-8594	52	3	part	part	NOUN
dem-8594	52	4	contains	contain	VERB
dem-8594	52	5	concluding	concluding	NOUN
dem-8594	52	6	remarks	remark	NOUN
dem-8594	52	7	.	.	PUNCT
dem-8594	53	1	1	1	X
dem-8594	53	2	.	.	X
dem-8594	53	3	review	review	NOUN
dem-8594	53	4	of	of	ADP
dem-8594	53	5	value	value	NOUN
dem-8594	53	6	at	at	ADP
dem-8594	53	7	risk	risk	NOUN
dem-8594	53	8	methodology	methodology	NOUN
dem-8594	53	9	1.1	1.1	NUM
dem-8594	53	10	.	.	PUNCT
dem-8594	54	1	caviar	caviar	NOUN
dem-8594	54	2	models	model	NOUN
dem-8594	54	3	the	the	DET
dem-8594	54	4	conditional	conditional	ADJ
dem-8594	54	5	autoregressive	autoregressive	ADJ
dem-8594	54	6	value	value	NOUN
dem-8594	54	7	at	at	ADP
dem-8594	54	8	risk	risk	NOUN
dem-8594	54	9	model	model	NOUN
dem-8594	54	10	has	have	AUX
dem-8594	54	11	been	be	AUX
dem-8594	54	12	introduced	introduce	VERB
dem-8594	54	13	by	by	ADP
dem-8594	54	14	engle	engle	NOUN
dem-8594	54	15	and	and	CCONJ
dem-8594	54	16	manganelli	manganelli	NOUN
dem-8594	54	17	(	(	PUNCT
dem-8594	54	18	2004	2004	NUM
dem-8594	54	19	)	)	PUNCT
dem-8594	54	20	.	.	PUNCT
dem-8594	55	1	the	the	DET
dem-8594	55	2	basic	basic	ADJ
dem-8594	55	3	intuition	intuition	NOUN
dem-8594	55	4	is	be	AUX
dem-8594	55	5	to	to	PART
dem-8594	55	6	model	model	VERB
dem-8594	55	7	directly	directly	ADV
dem-8594	55	8	the	the	DET
dem-8594	55	9	evolution	evolution	NOUN
dem-8594	55	10	of	of	ADP
dem-8594	55	11	the	the	DET
dem-8594	55	12	quantile	quantile	NOUN
dem-8594	55	13	over	over	ADP
dem-8594	55	14	time	time	NOUN
dem-8594	55	15	,	,	PUNCT
dem-8594	55	16	rather	rather	ADV
dem-8594	55	17	than	than	ADP
dem-8594	55	18	the	the	DET
dem-8594	55	19	whole	whole	ADJ
dem-8594	55	20	distribution	distribution	NOUN
dem-8594	55	21	of	of	ADP
dem-8594	55	22	portfolio	portfolio	NOUN
dem-8594	55	23	returns	return	NOUN
dem-8594	55	24	.	.	PUNCT
dem-8594	56	1	the	the	DET
dem-8594	56	2	general	general	ADJ
dem-8594	56	3	form	form	NOUN
dem-8594	56	4	of	of	ADP
dem-8594	56	5	caviar	caviar	NOUN
dem-8594	56	6	models	model	NOUN
dem-8594	56	7	is	be	AUX
dem-8594	56	8	defined	define	VERB
dem-8594	56	9	by	by	ADP
dem-8594	56	10	(	(	PUNCT
dem-8594	56	11	engle	engle	PROPN
dem-8594	56	12	,	,	PUNCT
dem-8594	56	13	manganelli	manganelli	NOUN
dem-8594	56	14	,	,	PUNCT
dem-8594	56	15	2004	2004	NUM
dem-8594	56	16	;	;	PUNCT
dem-8594	56	17	doman	doman	PROPN
dem-8594	56	18	,	,	PUNCT
dem-8594	56	19	doman	doman	PROPN
dem-8594	56	20	,	,	PUNCT
dem-8594	56	21	2009	2009	NUM
dem-8594	56	22	):	):	PUNCT
dem-8594	56	23	ewa	ewa	PROPN
dem-8594	56	24	ratuszny	ratuszny	VERB
dem-8594	56	25	dynamic	dynamic	ADJ
dem-8594	56	26	econometric	econometric	ADJ
dem-8594	56	27	models	model	NOUN
dem-8594	56	28	15	15	NUM
dem-8594	56	29	(	(	PUNCT
dem-8594	56	30	2015	2015	NUM
dem-8594	56	31	)	)	PUNCT
dem-8594	56	32	129–156	129–156	NUM
dem-8594	56	33	132	132	NUM
dem-8594	56	34	,	,	PUNCT
dem-8594	56	35	)	)	PUNCT
dem-8594	56	36	|,,(),(=),(=	|,,(),(=),(=	NUM
dem-8594	56	37	)	)	PUNCT
dem-8594	56	38	,	,	PUNCT
dem-8594	56	39	(	(	PUNCT
dem-8594	56	40	11	11	NUM
dem-8594	56	41	1=	1=	NUM
dem-8594	56	42	0	0	PUNCT
dem-8594	57	1	−++−	−++−	PROPN
dem-8594	58	1	+	+	PROPN
dem-8594	58	2	+	+	ADJ
dem-8594	58	3	∑	∑	X
dem-8594	58	4	tqppiti	tqppiti	NOUN
dem-8594	58	5	p	p	X
dem-8594	59	1	i	i	PRON
dem-8594	59	2	tt	tt	PROPN
dem-8594	59	3	lvarfvar	lvarfvar	NOUN
dem-8594	59	4	fβββαβββα	fβββαβββα	PROPN
dem-8594	59	5	α	α	PROPN
dem-8594	59	6	kβx	kβx	PROPN
dem-8594	59	7	(	(	PUNCT
dem-8594	59	8	1	1	NUM
dem-8594	59	9	)	)	PUNCT
dem-8594	59	10	where	where	SCONJ
dem-8594	59	11	1−tf	1−tf	PROPN
dem-8594	59	12	is	be	AUX
dem-8594	59	13	the	the	DET
dem-8594	59	14	information	information	NOUN
dem-8594	59	15	set	set	VERB
dem-8594	59	16	available	available	ADJ
dem-8594	59	17	at	at	ADP
dem-8594	59	18	time	time	NOUN
dem-8594	59	19	1−t	1−t	NUM
dem-8594	59	20	,	,	PUNCT
dem-8594	59	21	and	and	CCONJ
dem-8594	59	22	)	)	PUNCT
dem-8594	59	23	,	,	PUNCT
dem-8594	59	24	(=	(=	NOUN
dem-8594	59	25	0	0	PUNCT
dem-8594	60	1	′+qpββα	′+qpββα	NOUN
dem-8594	60	2	kβ	kβ	NOUN
dem-8594	60	3	is	be	AUX
dem-8594	60	4	the	the	DET
dem-8594	60	5	vector	vector	NOUN
dem-8594	60	6	of	of	ADP
dem-8594	60	7	parameters	parameter	NOUN
dem-8594	60	8	which	which	PRON
dem-8594	60	9	is	be	AUX
dem-8594	60	10	estimated	estimate	VERB
dem-8594	60	11	using	use	VERB
dem-8594	60	12	nonlinear	nonlinear	ADJ
dem-8594	60	13	regression	regression	NOUN
dem-8594	60	14	quantile	quantile	NOUN
dem-8594	60	15	techniques	technique	NOUN
dem-8594	60	16	.	.	PUNCT
dem-8594	61	1	in	in	ADP
dem-8594	61	2	most	most	ADJ
dem-8594	61	3	practical	practical	ADJ
dem-8594	61	4	cases	case	NOUN
dem-8594	61	5	the	the	DET
dem-8594	61	6	above	above	ADJ
dem-8594	61	7	formulation	formulation	NOUN
dem-8594	61	8	is	be	AUX
dem-8594	61	9	reduced	reduce	VERB
dem-8594	61	10	to	to	ADP
dem-8594	61	11	a	a	DET
dem-8594	61	12	first	first	ADJ
dem-8594	61	13	order	order	NOUN
dem-8594	61	14	model	model	NOUN
dem-8594	61	15	:	:	PUNCT
dem-8594	61	16	,	,	PUNCT
dem-8594	61	17	)	)	PUNCT
dem-8594	61	18	)	)	PUNCT
dem-8594	61	19	,	,	PUNCT
dem-8594	61	20	(	(	PUNCT
dem-8594	61	21	,	,	PUNCT
dem-8594	61	22	,	,	PUNCT
dem-8594	61	23	(	(	PUNCT
dem-8594	61	24	)	)	PUNCT
dem-8594	61	25	,	,	PUNCT
dem-8594	61	26	(=	(=	NOUN
dem-8594	61	27	)	)	PUNCT
dem-8594	61	28	,	,	PUNCT
dem-8594	61	29	(	(	PUNCT
dem-8594	61	30	112110	112110	NUM
dem-8594	61	31	βαββαβββα	βαββαβββα	NOUN
dem-8594	61	32	−−−	−−−	NOUN
dem-8594	62	1	+	+	X
dem-8594	62	2	+	+	NUM
dem-8594	62	3	tttt	tttt	PROPN
dem-8594	62	4	varylvarvar	varylvarvar	NOUN
dem-8594	62	5	(	(	PUNCT
dem-8594	62	6	2	2	NUM
dem-8594	62	7	)	)	PUNCT
dem-8594	62	8	where	where	SCONJ
dem-8594	62	9	)	)	PUNCT
dem-8594	62	10	|(=	|(=	PROPN
dem-8594	62	11	1−−	1−−	NUM
dem-8594	62	12	tttt	tttt	NOUN
dem-8594	62	13	rery	rery	NOUN
dem-8594	62	14	f	f	PROPN
dem-8594	62	15	,	,	PUNCT
dem-8594	62	16	tr	tr	VERB
dem-8594	62	17	is	be	AUX
dem-8594	62	18	rate	rate	NOUN
dem-8594	62	19	of	of	ADP
dem-8594	62	20	return	return	NOUN
dem-8594	62	21	,	,	PUNCT
dem-8594	62	22	)	)	PUNCT
dem-8594	62	23	|	|	ADV
dem-8594	62	24	(	(	PUNCT
dem-8594	62	25	1−ttre	1−ttre	NUM
dem-8594	62	26	f	f	NOUN
dem-8594	62	27	is	be	AUX
dem-8594	62	28	the	the	DET
dem-8594	62	29	expected	expect	VERB
dem-8594	62	30	value	value	NOUN
dem-8594	62	31	of	of	ADP
dem-8594	62	32	rate	rate	NOUN
dem-8594	62	33	of	of	ADP
dem-8594	62	34	returns	return	NOUN
dem-8594	62	35	.	.	PUNCT
dem-8594	63	1	the	the	DET
dem-8594	63	2	autoregressive	autoregressive	ADJ
dem-8594	63	3	term	term	NOUN
dem-8594	63	4	)	)	PUNCT
dem-8594	63	5	,	,	PUNCT
dem-8594	63	6	(	(	PUNCT
dem-8594	63	7	11	11	NUM
dem-8594	63	8	βαβ	βαβ	NOUN
dem-8594	63	9	−tvar	−tvar	PROPN
dem-8594	63	10	ensures	ensure	VERB
dem-8594	63	11	that	that	SCONJ
dem-8594	63	12	the	the	DET
dem-8594	63	13	var	var	NOUN
dem-8594	63	14	changes	change	VERB
dem-8594	63	15	smoothly	smoothly	ADV
dem-8594	63	16	over	over	ADP
dem-8594	63	17	time	time	NOUN
dem-8594	63	18	.	.	PUNCT
dem-8594	64	1	the	the	DET
dem-8594	64	2	role	role	NOUN
dem-8594	64	3	of	of	ADP
dem-8594	64	4	)	)	PUNCT
dem-8594	64	5	)	)	PUNCT
dem-8594	64	6	,	,	PUNCT
dem-8594	64	7	(	(	PUNCT
dem-8594	64	8	,	,	PUNCT
dem-8594	64	9	,	,	PUNCT
dem-8594	64	10	(	(	PUNCT
dem-8594	64	11	112	112	NUM
dem-8594	64	12	βαβ	βαβ	NOUN
dem-8594	64	13	−−	−−	NOUN
dem-8594	64	14	tt	tt	PROPN
dem-8594	64	15	varyl	varyl	PROPN
dem-8594	64	16	is	be	AUX
dem-8594	64	17	the	the	DET
dem-8594	64	18	linking	link	VERB
dem-8594	64	19	the	the	DET
dem-8594	64	20	level	level	NOUN
dem-8594	64	21	of	of	ADP
dem-8594	64	22	explained	explain	VERB
dem-8594	64	23	variable	variable	NOUN
dem-8594	64	24	)	)	PUNCT
dem-8594	64	25	(	(	PUNCT
dem-8594	64	26	αtvar	αtvar	NOUN
dem-8594	64	27	to	to	ADP
dem-8594	64	28	the	the	DET
dem-8594	64	29	level	level	NOUN
dem-8594	64	30	of	of	ADP
dem-8594	64	31	y	y	PROPN
dem-8594	64	32	at	at	ADP
dem-8594	64	33	the	the	DET
dem-8594	64	34	moment	moment	NOUN
dem-8594	64	35	1−t	1−t	NUM
dem-8594	64	36	.	.	PUNCT
dem-8594	65	1	that	that	PRON
dem-8594	65	2	is	be	AUX
dem-8594	65	3	,	,	PUNCT
dem-8594	65	4	it	it	PRON
dem-8594	65	5	measures	measure	VERB
dem-8594	65	6	the	the	DET
dem-8594	65	7	impact	impact	NOUN
dem-8594	65	8	of	of	ADP
dem-8594	65	9	new	new	ADJ
dem-8594	65	10	information	information	NOUN
dem-8594	65	11	in	in	ADP
dem-8594	65	12	y	y	PROPN
dem-8594	65	13	on	on	ADP
dem-8594	65	14	the	the	DET
dem-8594	65	15	level	level	NOUN
dem-8594	65	16	of	of	ADP
dem-8594	65	17	var	var	NOUN
dem-8594	65	18	.	.	PUNCT
dem-8594	66	1	the	the	DET
dem-8594	66	2	following	follow	VERB
dem-8594	66	3	caviar	caviar	NOUN
dem-8594	66	4	models	model	NOUN
dem-8594	66	5	are	be	AUX
dem-8594	66	6	analysed	analyse	VERB
dem-8594	66	7	in	in	ADP
dem-8594	66	8	our	our	PRON
dem-8594	66	9	research	research	NOUN
dem-8594	66	10	both	both	PRON
dem-8594	66	11	for	for	ADP
dem-8594	66	12	long	long	ADJ
dem-8594	66	13	position	position	NOUN
dem-8594	66	14	(	(	PUNCT
dem-8594	66	15	l	l	NOUN
dem-8594	66	16	)	)	PUNCT
dem-8594	66	17	and	and	CCONJ
dem-8594	66	18	short	short	ADJ
dem-8594	66	19	position	position	NOUN
dem-8594	66	20	(	(	PUNCT
dem-8594	66	21	s	s	NOUN
dem-8594	66	22	)	)	PUNCT
dem-8594	66	23	(	(	PUNCT
dem-8594	66	24	engle	engle	PROPN
dem-8594	66	25	,	,	PUNCT
dem-8594	66	26	manganelli	manganelli	NOUN
dem-8594	66	27	,	,	PUNCT
dem-8594	66	28	2004	2004	NUM
dem-8594	66	29	;	;	PUNCT
dem-8594	66	30	doman	doman	PROPN
dem-8594	66	31	,	,	PUNCT
dem-8594	66	32	doman	doman	PROPN
dem-8594	66	33	,	,	PUNCT
dem-8594	66	34	2009	2009	NUM
dem-8594	66	35	):	):	PUNCT
dem-8594	66	36	1	1	NUM
dem-8594	66	37	.	.	X
dem-8594	66	38	symmetric	symmetric	ADJ
dem-8594	66	39	absolute	absolute	ADJ
dem-8594	66	40	value	value	NOUN
dem-8594	66	41	–	–	PUNCT
dem-8594	66	42	sav	sav	NOUN
dem-8594	66	43	,	,	PUNCT
dem-8594	66	44	)	)	PUNCT
dem-8594	66	45	,	,	PUNCT
dem-8594	66	46	(=	(=	ADV
dem-8594	66	47	)	)	PUNCT
dem-8594	66	48	,	,	PUNCT
dem-8594	66	49	(	(	PUNCT
dem-8594	66	50	12110	12110	NUM
dem-8594	66	51	−−	−−	NOUN
dem-8594	66	52	+	+	PROPN
dem-8594	66	53	+	+	PROPN
dem-8594	66	54	t	t	PROPN
dem-8594	66	55	l	l	NOUN
dem-8594	67	1	t	t	PROPN
dem-8594	67	2	l	l	PROPN
dem-8594	67	3	t	t	PROPN
dem-8594	67	4	yvarvar	yvarvar	PROPN
dem-8594	67	5	ββαβββα	ββαβββα	PROPN
dem-8594	67	6	(	(	PUNCT
dem-8594	67	7	3	3	NUM
dem-8594	67	8	)	)	PUNCT
dem-8594	67	9	.),(=	.),(=	PROPN
dem-8594	67	10	)	)	PUNCT
dem-8594	67	11	,	,	PUNCT
dem-8594	67	12	(	(	PUNCT
dem-8594	67	13	12110	12110	NUM
dem-8594	67	14	−−	−−	NOUN
dem-8594	67	15	+	+	PROPN
dem-8594	67	16	+	+	PROPN
dem-8594	67	17	t	t	PROPN
dem-8594	67	18	s	s	PROPN
dem-8594	67	19	t	t	PROPN
dem-8594	67	20	s	s	PROPN
dem-8594	67	21	t	t	PROPN
dem-8594	67	22	yvarvar	yvarvar	PROPN
dem-8594	67	23	ββαβββα	ββαβββα	PROPN
dem-8594	67	24	(	(	PUNCT
dem-8594	67	25	4	4	X
dem-8594	67	26	)	)	PUNCT
dem-8594	67	27	current	current	ADJ
dem-8594	67	28	var	var	NOUN
dem-8594	67	29	depends	depend	VERB
dem-8594	67	30	on	on	ADP
dem-8594	67	31	the	the	DET
dem-8594	67	32	past	past	ADJ
dem-8594	67	33	value	value	NOUN
dem-8594	67	34	1−tvar	1−tvar	NUM
dem-8594	67	35	and	and	CCONJ
dem-8594	67	36	absolute	absolute	ADJ
dem-8594	67	37	value	value	NOUN
dem-8594	67	38	of	of	ADP
dem-8594	67	39	past	past	ADJ
dem-8594	67	40	rate	rate	NOUN
dem-8594	67	41	of	of	ADP
dem-8594	67	42	return	return	NOUN
dem-8594	67	43	.	.	PUNCT
dem-8594	68	1	the	the	DET
dem-8594	68	2	model	model	NOUN
dem-8594	68	3	symmetrically	symmetrically	ADV
dem-8594	68	4	responds	respond	VERB
dem-8594	68	5	to	to	ADP
dem-8594	68	6	both	both	CCONJ
dem-8594	68	7	negative	negative	ADJ
dem-8594	68	8	and	and	CCONJ
dem-8594	68	9	positive	positive	ADJ
dem-8594	68	10	past	past	ADJ
dem-8594	68	11	returns	return	NOUN
dem-8594	68	12	.	.	PUNCT
dem-8594	69	1	2	2	X
dem-8594	69	2	.	.	X
dem-8594	69	3	asymmetric	asymmetric	ADJ
dem-8594	69	4	slope	slope	NOUN
dem-8594	69	5	–	–	PUNCT
dem-8594	69	6	as	as	ADP
dem-8594	69	7	,	,	PUNCT
dem-8594	69	8	0)<(0)(),(=	0)<(0)(),(=	NOUN
dem-8594	69	9	)	)	PUNCT
dem-8594	69	10	,	,	PUNCT
dem-8594	69	11	(	(	PUNCT
dem-8594	69	12	1131111	1131111	NUM
dem-8594	69	13	−−−−−	−−−−−	X
dem-8594	69	14	+	+	NOUN
dem-8594	69	15	≥+	≥+	X
dem-8594	69	16	tttt	tttt	NOUN
dem-8594	69	17	l	l	PROPN
dem-8594	69	18	t	t	PROPN
dem-8594	69	19	l	l	PROPN
dem-8594	69	20	t	t	PROPN
dem-8594	69	21	yiyyiyvarvar	yiyyiyvarvar	NOUN
dem-8594	69	22	βββαβα	βββαβα	NOUN
dem-8594	69	23	(	(	PUNCT
dem-8594	69	24	5	5	NUM
dem-8594	69	25	)	)	PUNCT
dem-8594	69	26	,	,	PUNCT
dem-8594	69	27	0)<(0)(),(=	0)<(0)(),(=	NOUN
dem-8594	69	28	)	)	PUNCT
dem-8594	69	29	,	,	PUNCT
dem-8594	69	30	(	(	PUNCT
dem-8594	69	31	1131111	1131111	NUM
dem-8594	69	32	−−−−−	−−−−−	X
dem-8594	69	33	+	+	NOUN
dem-8594	69	34	≥+	≥+	X
dem-8594	69	35	tttt	tttt	NOUN
dem-8594	69	36	s	s	PROPN
dem-8594	69	37	t	t	PROPN
dem-8594	69	38	s	s	PROPN
dem-8594	69	39	t	t	NOUN
dem-8594	69	40	yiyyiyvarvar	yiyyiyvarvar	NOUN
dem-8594	69	41	βββαβα	βββαβα	NOUN
dem-8594	69	42	(	(	PUNCT
dem-8594	69	43	6	6	NUM
dem-8594	69	44	)	)	PUNCT
dem-8594	69	45	where	where	SCONJ
dem-8594	69	46	)	)	PUNCT
dem-8594	69	47	(	(	PUNCT
dem-8594	69	48	⋅i	⋅i	PROPN
dem-8594	69	49	is	be	AUX
dem-8594	69	50	the	the	DET
dem-8594	69	51	indicator	indicator	NOUN
dem-8594	69	52	function	function	NOUN
dem-8594	69	53	.	.	PUNCT
dem-8594	70	1	current	current	ADJ
dem-8594	70	2	var	var	NOUN
dem-8594	70	3	depends	depend	VERB
dem-8594	70	4	on	on	ADP
dem-8594	70	5	its	its	PRON
dem-8594	70	6	past	past	ADJ
dem-8594	70	7	value	value	NOUN
dem-8594	70	8	1−tvar	1−tvar	NOUN
dem-8594	70	9	and	and	CCONJ
dem-8594	70	10	on	on	ADP
dem-8594	70	11	positive	positive	ADJ
dem-8594	70	12	and	and	CCONJ
dem-8594	70	13	negative	negative	ADJ
dem-8594	70	14	returns	return	NOUN
dem-8594	70	15	that	that	PRON
dem-8594	70	16	are	be	AUX
dem-8594	70	17	treated	treat	VERB
dem-8594	70	18	in	in	ADP
dem-8594	70	19	different	different	ADJ
dem-8594	70	20	way	way	NOUN
dem-8594	70	21	.	.	PUNCT
dem-8594	71	1	3	3	X
dem-8594	71	2	.	.	X
dem-8594	71	3	indirect	indirect	ADJ
dem-8594	71	4	garch	garch	NOUN
dem-8594	71	5	for	for	ADP
dem-8594	71	6	both	both	CCONJ
dem-8594	71	7	short	short	ADJ
dem-8594	71	8	and	and	CCONJ
dem-8594	71	9	long	long	ADJ
dem-8594	71	10	position	position	NOUN
dem-8594	71	11	:	:	PUNCT
dem-8594	71	12	[	[	PUNCT
dem-8594	71	13	]	]	X
dem-8594	71	14	.),(=	.),(=	PROPN
dem-8594	71	15	)	)	PUNCT
dem-8594	71	16	,	,	PUNCT
dem-8594	71	17	(	(	PUNCT
dem-8594	71	18	1/22	1/22	NUM
dem-8594	71	19	13	13	NUM
dem-8594	71	20	2	2	NUM
dem-8594	71	21	121	121	NUM
dem-8594	71	22	−−	−−	NOUN
dem-8594	71	23	+	+	PROPN
dem-8594	71	24	+	+	PROPN
dem-8594	71	25	ttt	ttt	PROPN
dem-8594	71	26	yvarvar	yvarvar	PROPN
dem-8594	71	27	ββαβββα	ββαβββα	PROPN
dem-8594	71	28	(	(	PUNCT
dem-8594	71	29	7	7	X
dem-8594	71	30	)	)	PUNCT
dem-8594	71	31	current	current	ADJ
dem-8594	71	32	var	var	NOUN
dem-8594	71	33	is	be	AUX
dem-8594	71	34	described	describe	VERB
dem-8594	71	35	as	as	ADP
dem-8594	71	36	garch	garch	NOUN
dem-8594	71	37	process	process	NOUN
dem-8594	71	38	.	.	PUNCT
dem-8594	72	1	the	the	DET
dem-8594	72	2	model	model	NOUN
dem-8594	72	3	is	be	AUX
dem-8594	72	4	correctly	correctly	ADV
dem-8594	72	5	specified	specify	VERB
dem-8594	72	6	for	for	ADP
dem-8594	72	7	rate	rate	NOUN
dem-8594	72	8	of	of	ADP
dem-8594	72	9	returns	return	NOUN
dem-8594	72	10	from	from	ADP
dem-8594	72	11	garch(1,1	garch(1,1	NOUN
dem-8594	72	12	)	)	PUNCT
dem-8594	72	13	model	model	NOUN
dem-8594	72	14	.	.	PUNCT
dem-8594	73	1	risk	risk	NOUN
dem-8594	73	2	modeling	modeling	NOUN
dem-8594	73	3	of	of	ADP
dem-8594	73	4	commodities	commodity	NOUN
dem-8594	73	5	using	use	VERB
dem-8594	73	6	caviar	caviar	NOUN
dem-8594	73	7	models	model	NOUN
dem-8594	73	8	…	…	PUNCT
dem-8594	73	9	dynamic	dynamic	ADJ
dem-8594	73	10	econometric	econometric	ADJ
dem-8594	73	11	models	model	NOUN
dem-8594	73	12	15	15	NUM
dem-8594	73	13	(	(	PUNCT
dem-8594	73	14	2015	2015	NUM
dem-8594	73	15	)	)	PUNCT
dem-8594	73	16	129–156	129–156	NUM
dem-8594	73	17	133	133	NUM
dem-8594	73	18	4	4	NUM
dem-8594	73	19	.	.	PUNCT
dem-8594	74	1	adaptive	adaptive	ADJ
dem-8594	74	2	–	–	PUNCT
dem-8594	74	3	ad	ad	NOUN
dem-8594	74	4	(	(	PUNCT
dem-8594	74	5	)	)	PUNCT
dem-8594	74	6	[	[	PUNCT
dem-8594	74	7	]	]	X
dem-8594	74	8	{	{	PUNCT
dem-8594	74	9	}	}	PUNCT
dem-8594	74	10	,	,	PUNCT
dem-8594	74	11	)	)	PUNCT
dem-8594	74	12	]	]	PUNCT
dem-8594	74	13	,	,	PUNCT
dem-8594	74	14	(	(	PUNCT
dem-8594	74	15	[	[	X
dem-8594	74	16	exp1),(=	exp1),(=	NOUN
dem-8594	74	17	)	)	PUNCT
dem-8594	74	18	,	,	PUNCT
dem-8594	74	19	(	(	PUNCT
dem-8594	74	20	1	1	NUM
dem-8594	74	21	1111	1111	NUM
dem-8594	74	22	αβαββαβα	αβαββαβα	NOUN
dem-8594	74	23	−−++	−−++	NOUN
dem-8594	74	24	−	−	NOUN
dem-8594	74	25	−−−	−−−	NOUN
dem-8594	75	1	l	l	NOUN
dem-8594	75	2	tt	tt	PROPN
dem-8594	75	3	l	l	PROPN
dem-8594	75	4	t	t	PROPN
dem-8594	75	5	l	l	PROPN
dem-8594	75	6	t	t	PROPN
dem-8594	75	7	varygvarvar	varygvarvar	NOUN
dem-8594	75	8	(	(	PUNCT
dem-8594	75	9	8)	8)	NUM
dem-8594	75	10	(	(	PUNCT
dem-8594	75	11	)	)	PUNCT
dem-8594	75	12	[	[	PUNCT
dem-8594	75	13	]	]	X
dem-8594	75	14	{	{	PUNCT
dem-8594	75	15	}	}	PUNCT
dem-8594	75	16	,	,	PUNCT
dem-8594	75	17	)	)	PUNCT
dem-8594	75	18	]	]	PUNCT
dem-8594	75	19	,	,	PUNCT
dem-8594	75	20	(	(	PUNCT
dem-8594	75	21	[	[	X
dem-8594	75	22	exp1),(=	exp1),(=	NOUN
dem-8594	75	23	)	)	PUNCT
dem-8594	75	24	,	,	PUNCT
dem-8594	75	25	(	(	PUNCT
dem-8594	75	26	1	1	NUM
dem-8594	75	27	1111	1111	NUM
dem-8594	75	28	αβαββαβα	αβαββαβα	NOUN
dem-8594	75	29	−−++	−−++	NOUN
dem-8594	75	30	−	−	PROPN
dem-8594	76	1	−−−	−−−	NOUN
dem-8594	76	2	s	s	VERB
dem-8594	76	3	tt	tt	PROPN
dem-8594	76	4	s	s	PROPN
dem-8594	76	5	t	t	PROPN
dem-8594	76	6	l	l	PROPN
dem-8594	76	7	t	t	PROPN
dem-8594	76	8	varygvarvar	varygvarvar	NOUN
dem-8594	76	9	(	(	PUNCT
dem-8594	76	10	9	9	NUM
dem-8594	76	11	)	)	PUNCT
dem-8594	76	12	where	where	SCONJ
dem-8594	76	13	g	g	PROPN
dem-8594	76	14	is	be	AUX
dem-8594	76	15	some	some	DET
dem-8594	76	16	positive	positive	ADJ
dem-8594	76	17	finite	finite	ADJ
dem-8594	76	18	number	number	NOUN
dem-8594	76	19	.	.	PUNCT
dem-8594	77	1	if	if	SCONJ
dem-8594	77	2	∞→g	∞→g	PROPN
dem-8594	77	3	,	,	PUNCT
dem-8594	77	4	the	the	DET
dem-8594	77	5	second	second	ADJ
dem-8594	77	6	term	term	NOUN
dem-8594	77	7	converges	converge	VERB
dem-8594	77	8	to	to	ADP
dem-8594	77	9	]	]	PUNCT
dem-8594	77	10	)	)	PUNCT
dem-8594	77	11	)	)	PUNCT
dem-8594	77	12	,	,	PUNCT
dem-8594	77	13	(	(	PUNCT
dem-8594	77	14	(	(	PUNCT
dem-8594	77	15	[	[	PUNCT
dem-8594	77	16	11	11	NUM
dem-8594	77	17	αβαβ	αβαβ	NOUN
dem-8594	77	18	−−	−−	PROPN
dem-8594	77	19	−−	−−	PROPN
dem-8594	77	20	tt	tt	PROPN
dem-8594	77	21	varyi	varyi	VERB
dem-8594	77	22	for	for	ADP
dem-8594	77	23	long	long	ADJ
dem-8594	77	24	position	position	NOUN
dem-8594	77	25	and	and	CCONJ
dem-8594	77	26	to	to	ADP
dem-8594	77	27	]	]	PUNCT
dem-8594	77	28	)	)	PUNCT
dem-8594	77	29	)	)	PUNCT
dem-8594	77	30	,	,	PUNCT
dem-8594	77	31	(	(	PUNCT
dem-8594	77	32	(	(	PUNCT
dem-8594	77	33	[	[	PUNCT
dem-8594	77	34	11	11	NUM
dem-8594	77	35	αβαβ	αβαβ	NOUN
dem-8594	77	36	−≥	−≥	PROPN
dem-8594	77	37	−−	−−	PROPN
dem-8594	77	38	tt	tt	PROPN
dem-8594	77	39	varyi	varyi	NOUN
dem-8594	77	40	for	for	ADP
dem-8594	77	41	short	short	ADJ
dem-8594	77	42	position	position	NOUN
dem-8594	77	43	,	,	PUNCT
dem-8594	77	44	where	where	SCONJ
dem-8594	77	45	)	)	PUNCT
dem-8594	77	46	(	(	PUNCT
dem-8594	77	47	⋅i	⋅i	PROPN
dem-8594	77	48	is	be	AUX
dem-8594	77	49	the	the	DET
dem-8594	77	50	indicator	indicator	NOUN
dem-8594	77	51	function	function	NOUN
dem-8594	77	52	.	.	PUNCT
dem-8594	78	1	in	in	SCONJ
dem-8594	78	2	case	case	NOUN
dem-8594	78	3	of	of	ADP
dem-8594	78	4	a	a	DET
dem-8594	78	5	var	var	NOUN
dem-8594	78	6	breach	breach	NOUN
dem-8594	78	7	the	the	DET
dem-8594	78	8	var	var	NOUN
dem-8594	78	9	forecast	forecast	NOUN
dem-8594	78	10	should	should	AUX
dem-8594	78	11	be	be	AUX
dem-8594	78	12	increased	increase	VERB
dem-8594	78	13	,	,	PUNCT
dem-8594	78	14	otherwise	otherwise	ADV
dem-8594	78	15	should	should	AUX
dem-8594	78	16	be	be	AUX
dem-8594	78	17	slightly	slightly	ADV
dem-8594	78	18	decreased	decrease	VERB
dem-8594	78	19	.	.	PUNCT
dem-8594	79	1	the	the	DET
dem-8594	79	2	model	model	NOUN
dem-8594	79	3	aims	aim	VERB
dem-8594	79	4	to	to	PART
dem-8594	79	5	reduce	reduce	VERB
dem-8594	79	6	the	the	DET
dem-8594	79	7	probability	probability	NOUN
dem-8594	79	8	of	of	ADP
dem-8594	79	9	sequences	sequence	NOUN
dem-8594	79	10	of	of	ADP
dem-8594	79	11	var	var	NOUN
dem-8594	79	12	breaches	breach	NOUN
dem-8594	79	13	and	and	CCONJ
dem-8594	79	14	will	will	AUX
dem-8594	79	15	also	also	ADV
dem-8594	79	16	make	make	VERB
dem-8594	79	17	unlikely	unlikely	ADJ
dem-8594	79	18	that	that	SCONJ
dem-8594	79	19	the	the	DET
dem-8594	79	20	var	var	NOUN
dem-8594	79	21	has	have	AUX
dem-8594	79	22	never	never	ADV
dem-8594	79	23	been	be	AUX
dem-8594	79	24	reached	reach	VERB
dem-8594	79	25	.	.	PUNCT
dem-8594	80	1	the	the	DET
dem-8594	80	2	disadvantage	disadvantage	NOUN
dem-8594	80	3	of	of	ADP
dem-8594	80	4	this	this	DET
dem-8594	80	5	type	type	NOUN
dem-8594	80	6	of	of	ADP
dem-8594	80	7	caviar	caviar	NOUN
dem-8594	80	8	models	model	NOUN
dem-8594	80	9	is	be	AUX
dem-8594	80	10	lack	lack	NOUN
dem-8594	80	11	of	of	ADP
dem-8594	80	12	rate	rate	NOUN
dem-8594	80	13	of	of	ADP
dem-8594	80	14	return	return	NOUN
dem-8594	80	15	in	in	ADP
dem-8594	80	16	explanatory	explanatory	ADJ
dem-8594	80	17	variables	variable	NOUN
dem-8594	80	18	set	set	VERB
dem-8594	80	19	so	so	SCONJ
dem-8594	80	20	that	that	SCONJ
dem-8594	80	21	the	the	DET
dem-8594	80	22	information	information	NOUN
dem-8594	80	23	about	about	ADP
dem-8594	80	24	extremal	extremal	ADJ
dem-8594	80	25	market	market	NOUN
dem-8594	80	26	movements	movement	NOUN
dem-8594	80	27	is	be	AUX
dem-8594	80	28	not	not	PART
dem-8594	80	29	effectivelly	effectivelly	ADV
dem-8594	80	30	included	include	VERB
dem-8594	80	31	in	in	ADP
dem-8594	80	32	model	model	NOUN
dem-8594	80	33	(	(	PUNCT
dem-8594	80	34	doman	doman	PROPN
dem-8594	80	35	,	,	PUNCT
dem-8594	80	36	doman	doman	NOUN
dem-8594	80	37	,	,	PUNCT
dem-8594	80	38	2009	2009	NUM
dem-8594	80	39	)	)	PUNCT
dem-8594	80	40	.	.	PUNCT
dem-8594	81	1	estimation	estimation	NOUN
dem-8594	81	2	of	of	ADP
dem-8594	81	3	caviar	caviar	NOUN
dem-8594	81	4	models	model	NOUN
dem-8594	81	5	is	be	AUX
dem-8594	81	6	performed	perform	VERB
dem-8594	81	7	on	on	ADP
dem-8594	81	8	the	the	DET
dem-8594	81	9	basis	basis	NOUN
dem-8594	81	10	of	of	ADP
dem-8594	81	11	koenker	koenker	NOUN
dem-8594	81	12	and	and	CCONJ
dem-8594	81	13	basset	basset	NOUN
dem-8594	81	14	(	(	PUNCT
dem-8594	81	15	1978	1978	NUM
dem-8594	81	16	)	)	PUNCT
dem-8594	81	17	regression	regression	NOUN
dem-8594	81	18	quantile	quantile	ADJ
dem-8594	81	19	methodology	methodology	NOUN
dem-8594	81	20	,	,	PUNCT
dem-8594	81	21	which	which	PRON
dem-8594	81	22	minimalises	minimalise	VERB
dem-8594	81	23	the	the	DET
dem-8594	81	24	regression	regression	NOUN
dem-8594	81	25	quantile	quantile	ADJ
dem-8594	81	26	objective	objective	ADJ
dem-8594	81	27	function	function	NOUN
dem-8594	81	28	of	of	ADP
dem-8594	81	29	the	the	DET
dem-8594	81	30	following	follow	VERB
dem-8594	81	31	form	form	NOUN
dem-8594	81	32	for	for	ADP
dem-8594	81	33	long	long	ADJ
dem-8594	81	34	(	(	PUNCT
dem-8594	81	35	l	l	NOUN
dem-8594	81	36	)	)	PUNCT
dem-8594	81	37	and	and	CCONJ
dem-8594	81	38	short	short	ADJ
dem-8594	81	39	(	(	PUNCT
dem-8594	81	40	s	s	NOUN
dem-8594	81	41	)	)	PUNCT
dem-8594	81	42	position	position	NOUN
dem-8594	81	43	,	,	PUNCT
dem-8594	81	44	respectively	respectively	ADV
dem-8594	81	45	:	:	PUNCT
dem-8594	81	46	,	,	PUNCT
dem-8594	81	47	)	)	PUNCT
dem-8594	81	48	,	,	PUNCT
dem-8594	81	49	(	(	PUNCT
dem-8594	81	50	)	)	PUNCT
dem-8594	81	51	(	(	PUNCT
dem-8594	81	52	1	1	NUM
dem-8594	81	53	)	)	PUNCT
dem-8594	81	54	,	,	PUNCT
dem-8594	81	55	(	(	PUNCT
dem-8594	81	56	min	min	NOUN
dem-8594	81	57	)	)	PUNCT
dem-8594	81	58	,	,	PUNCT
dem-8594	81	59	(	(	PUNCT
dem-8594	81	60	>	>	X
dem-8594	81	61	)	)	PUNCT
dem-8594	81	62	,	,	PUNCT
dem-8594	81	63	(	(	PUNCT
dem-8594	81	64			PROPN
dem-8594	81	65			PROPN
dem-8594	81	66			PROPN
dem-8594	81	67			PROPN
dem-8594	81	68			PROPN
dem-8594	81	69	−−+	−−+	ADJ
dem-8594	81	70			ADJ
dem-8594	81	71			ADJ
dem-8594	81	72			ADJ
dem-8594	81	73			NUM
dem-8594	81	74			VERB
dem-8594	81	75	+	+	NOUN
dem-8594	81	76	−	−	NOUN
dem-8594	81	77	∑	∑	PROPN
dem-8594	81	78	∑	∑	PART
dem-8594	81	79	−	−	PROPN
dem-8594	81	80	−	−	PROPN
dem-8594	81	81	βαα	βαα	NOUN
dem-8594	81	82	βαα	βαα	NOUN
dem-8594	81	83	βα	βα	X
dem-8594	81	84	βα	βα	X
dem-8594	81	85	β	β	X
dem-8594	81	86	l	l	X
dem-8594	81	87	tt	tt	PROPN
dem-8594	82	1	l	l	PROPN
dem-8594	82	2	tvartyt	tvartyt	PROPN
dem-8594	82	3	l	l	X
dem-8594	82	4	tt	tt	PROPN
dem-8594	82	5	l	l	PROPN
dem-8594	82	6	tvartyt	tvartyt	ADJ
dem-8594	82	7	vary	vary	ADJ
dem-8594	82	8	vary	vary	NOUN
dem-8594	82	9	(	(	PUNCT
dem-8594	82	10	10	10	NUM
dem-8594	82	11	)	)	PUNCT
dem-8594	82	12	.),()(1	.),()(1	PUNCT
dem-8594	82	13	)	)	PUNCT
dem-8594	82	14	,	,	PUNCT
dem-8594	82	15	(	(	PUNCT
dem-8594	82	16	min	min	NOUN
dem-8594	82	17	)	)	PUNCT
dem-8594	82	18	,	,	PUNCT
dem-8594	82	19	(	(	PUNCT
dem-8594	82	20	<	<	X
dem-8594	82	21	)	)	PUNCT
dem-8594	82	22	,	,	PUNCT
dem-8594	82	23	(	(	PUNCT
dem-8594	82	24			PROPN
dem-8594	82	25			PROPN
dem-8594	82	26			PROPN
dem-8594	82	27			PROPN
dem-8594	82	28			PROPN
dem-8594	82	29	−−	−−	NOUN
dem-8594	82	30			ADJ
dem-8594	82	31			ADJ
dem-8594	82	32			ADJ
dem-8594	82	33			NUM
dem-8594	82	34			VERB
dem-8594	82	35	+	+	NOUN
dem-8594	82	36	−	−	PROPN
dem-8594	82	37	∑	∑	PROPN
dem-8594	82	38	∑	∑	PART
dem-8594	82	39	≥	≥	PROPN
dem-8594	82	40	βαα	βαα	NOUN
dem-8594	82	41	βαα	βαα	NOUN
dem-8594	82	42	βα	βα	X
dem-8594	82	43	βα	βα	X
dem-8594	82	44	β	β	X
dem-8594	82	45	s	s	X
dem-8594	82	46	tt	tt	PROPN
dem-8594	82	47	s	s	PART
dem-8594	82	48	tvartyt	tvartyt	PROPN
dem-8594	82	49	s	s	PART
dem-8594	82	50	tt	tt	PROPN
dem-8594	82	51	s	s	PART
dem-8594	82	52	tvartyt	tvartyt	ADJ
dem-8594	82	53	vary	vary	ADJ
dem-8594	82	54	vary	vary	NOUN
dem-8594	82	55	(	(	PUNCT
dem-8594	82	56	11	11	NUM
dem-8594	82	57	)	)	PUNCT
dem-8594	82	58	ewa	ewa	PROPN
dem-8594	82	59	ratuszny	ratuszny	VERB
dem-8594	82	60	dynamic	dynamic	ADJ
dem-8594	82	61	econometric	econometric	ADJ
dem-8594	82	62	models	model	NOUN
dem-8594	82	63	15	15	NUM
dem-8594	82	64	(	(	PUNCT
dem-8594	82	65	2015	2015	NUM
dem-8594	82	66	)	)	PUNCT
dem-8594	82	67	129–156	129–156	NUM
dem-8594	82	68	134	134	NUM
dem-8594	82	69	1.2	1.2	NUM
dem-8594	82	70	.	.	PUNCT
dem-8594	83	1	implied	imply	VERB
dem-8594	83	2	volatility	volatility	NOUN
dem-8594	83	3	implied	imply	VERB
dem-8594	83	4	volatility	volatility	NOUN
dem-8594	83	5	reflects	reflect	VERB
dem-8594	83	6	market	market	NOUN
dem-8594	83	7	’s	’s	PART
dem-8594	83	8	expectations	expectation	NOUN
dem-8594	83	9	regarding	regard	VERB
dem-8594	83	10	future	future	ADJ
dem-8594	83	11	volatility	volatility	NOUN
dem-8594	83	12	.	.	PUNCT
dem-8594	84	1	implied	imply	VERB
dem-8594	84	2	volatility	volatility	NOUN
dem-8594	84	3	is	be	AUX
dem-8594	84	4	the	the	DET
dem-8594	84	5	key	key	ADJ
dem-8594	84	6	variable	variable	NOUN
dem-8594	84	7	in	in	ADP
dem-8594	84	8	financial	financial	ADJ
dem-8594	84	9	investment	investment	NOUN
dem-8594	84	10	decision	decision	NOUN
dem-8594	84	11	,	,	PUNCT
dem-8594	84	12	risk	risk	NOUN
dem-8594	84	13	management	management	NOUN
dem-8594	84	14	,	,	PUNCT
dem-8594	84	15	derivative	derivative	ADJ
dem-8594	84	16	pricing	pricing	NOUN
dem-8594	84	17	,	,	PUNCT
dem-8594	84	18	market	market	NOUN
dem-8594	84	19	making	making	NOUN
dem-8594	84	20	,	,	PUNCT
dem-8594	84	21	market	market	NOUN
dem-8594	84	22	timing	timing	NOUN
dem-8594	84	23	and	and	CCONJ
dem-8594	84	24	portfolio	portfolio	NOUN
dem-8594	84	25	selection	selection	NOUN
dem-8594	84	26	.	.	PUNCT
dem-8594	85	1	in	in	ADP
dem-8594	85	2	spite	spite	NOUN
dem-8594	85	3	of	of	ADP
dem-8594	85	4	huge	huge	ADJ
dem-8594	85	5	volume	volume	NOUN
dem-8594	85	6	of	of	ADP
dem-8594	85	7	research	research	NOUN
dem-8594	85	8	,	,	PUNCT
dem-8594	85	9	no	no	DET
dem-8594	85	10	consensus	consensus	NOUN
dem-8594	85	11	has	have	AUX
dem-8594	85	12	been	be	AUX
dem-8594	85	13	reached	reach	VERB
dem-8594	85	14	on	on	ADP
dem-8594	85	15	usefulness	usefulness	NOUN
dem-8594	85	16	of	of	ADP
dem-8594	85	17	implied	imply	VERB
dem-8594	85	18	volatility	volatility	NOUN
dem-8594	85	19	as	as	ADP
dem-8594	85	20	a	a	DET
dem-8594	85	21	predictor	predictor	NOUN
dem-8594	85	22	for	for	ADP
dem-8594	85	23	future	future	ADJ
dem-8594	85	24	volatility	volatility	NOUN
dem-8594	85	25	in	in	ADP
dem-8594	85	26	comparison	comparison	NOUN
dem-8594	85	27	with	with	ADP
dem-8594	85	28	predictions	prediction	NOUN
dem-8594	85	29	from	from	ADP
dem-8594	85	30	time	time	NOUN
dem-8594	85	31	series	series	NOUN
dem-8594	85	32	models	model	NOUN
dem-8594	85	33	.	.	PUNCT
dem-8594	86	1	there	there	PRON
dem-8594	86	2	are	be	VERB
dem-8594	86	3	many	many	ADJ
dem-8594	86	4	empirical	empirical	ADJ
dem-8594	86	5	studies	study	NOUN
dem-8594	86	6	in	in	ADP
dem-8594	86	7	which	which	PRON
dem-8594	86	8	implied	imply	VERB
dem-8594	86	9	volatility	volatility	NOUN
dem-8594	86	10	overcomes	overcome	VERB
dem-8594	86	11	the	the	DET
dem-8594	86	12	historical	historical	ADJ
dem-8594	86	13	volatility	volatility	NOUN
dem-8594	86	14	(	(	PUNCT
dem-8594	86	15	szakmary	szakmary	PROPN
dem-8594	86	16	et	et	PROPN
dem-8594	86	17	al	al	PROPN
dem-8594	86	18	.	.	PROPN
dem-8594	87	1	(	(	PUNCT
dem-8594	87	2	2003	2003	NUM
dem-8594	87	3	)	)	PUNCT
dem-8594	87	4	for	for	ADP
dem-8594	87	5	futures	future	NOUN
dem-8594	87	6	on	on	ADP
dem-8594	87	7	equity	equity	NOUN
dem-8594	87	8	indices	index	NOUN
dem-8594	87	9	,	,	PUNCT
dem-8594	87	10	interest	interest	NOUN
dem-8594	87	11	rates	rate	NOUN
dem-8594	87	12	,	,	PUNCT
dem-8594	87	13	currencies	currency	NOUN
dem-8594	87	14	,	,	PUNCT
dem-8594	87	15	commodities	commodity	NOUN
dem-8594	87	16	and	and	CCONJ
dem-8594	87	17	crude	crude	ADJ
dem-8594	87	18	oil	oil	NOUN
dem-8594	87	19	;	;	PUNCT
dem-8594	87	20	pong	pong	PROPN
dem-8594	87	21	et	et	PROPN
dem-8594	87	22	al	al	PROPN
dem-8594	87	23	.	.	PROPN
dem-8594	88	1	(	(	PUNCT
dem-8594	88	2	2004	2004	NUM
dem-8594	88	3	)	)	PUNCT
dem-8594	88	4	for	for	ADP
dem-8594	88	5	fx	fx	PROPN
dem-8594	88	6	;	;	PUNCT
dem-8594	88	7	corredor	corredor	PROPN
dem-8594	88	8	and	and	CCONJ
dem-8594	88	9	santamaria	santamaria	PROPN
dem-8594	88	10	(	(	PUNCT
dem-8594	88	11	2004	2004	NUM
dem-8594	88	12	)	)	PUNCT
dem-8594	88	13	for	for	ADP
dem-8594	88	14	ibex	ibex	NOUN
dem-8594	88	15	;	;	PUNCT
dem-8594	88	16	giot	giot	NOUN
dem-8594	88	17	and	and	CCONJ
dem-8594	88	18	laurent	laurent	NOUN
dem-8594	88	19	(	(	PUNCT
dem-8594	88	20	2007	2007	NUM
dem-8594	88	21	)	)	PUNCT
dem-8594	88	22	for	for	ADP
dem-8594	88	23	stock	stock	NOUN
dem-8594	88	24	indices	index	NOUN
dem-8594	88	25	such	such	ADJ
dem-8594	88	26	as	as	ADP
dem-8594	88	27	the	the	DET
dem-8594	88	28	s&p100	s&p100	NOUN
dem-8594	88	29	and	and	CCONJ
dem-8594	88	30	s&p500	s&p500	NOUN
dem-8594	88	31	)	)	PUNCT
dem-8594	88	32	.	.	PUNCT
dem-8594	89	1	noh	noh	PROPN
dem-8594	89	2	and	and	CCONJ
dem-8594	89	3	kim	kim	PROPN
dem-8594	89	4	(	(	PUNCT
dem-8594	89	5	2006	2006	NUM
dem-8594	89	6	)	)	PUNCT
dem-8594	89	7	conclude	conclude	VERB
dem-8594	89	8	that	that	SCONJ
dem-8594	89	9	both	both	DET
dem-8594	89	10	implied	imply	VERB
dem-8594	89	11	volatility	volatility	NOUN
dem-8594	89	12	and	and	CCONJ
dem-8594	89	13	historical	historical	ADJ
dem-8594	89	14	volatility	volatility	NOUN
dem-8594	89	15	using	use	VERB
dem-8594	89	16	high	high	ADJ
dem-8594	89	17	-	-	PUNCT
dem-8594	89	18	frequency	frequency	NOUN
dem-8594	89	19	returns	return	NOUN
dem-8594	89	20	can	can	AUX
dem-8594	89	21	outperform	outperform	VERB
dem-8594	89	22	each	each	DET
dem-8594	89	23	other	other	ADJ
dem-8594	89	24	in	in	ADP
dem-8594	89	25	forecasting	forecast	VERB
dem-8594	89	26	volatility	volatility	NOUN
dem-8594	89	27	.	.	PUNCT
dem-8594	90	1	in	in	ADP
dem-8594	90	2	their	their	PRON
dem-8594	90	3	empirical	empirical	ADJ
dem-8594	90	4	test	test	NOUN
dem-8594	90	5	,	,	PUNCT
dem-8594	90	6	historical	historical	ADJ
dem-8594	90	7	volatility	volatility	NOUN
dem-8594	90	8	from	from	ADP
dem-8594	90	9	high	high	ADJ
dem-8594	90	10	frequency	frequency	NOUN
dem-8594	90	11	returns	return	NOUN
dem-8594	90	12	performed	perform	VERB
dem-8594	90	13	better	well	ADV
dem-8594	90	14	in	in	ADP
dem-8594	90	15	the	the	DET
dem-8594	90	16	ftse100	ftse100	PROPN
dem-8594	90	17	futures	future	NOUN
dem-8594	90	18	,	,	PUNCT
dem-8594	90	19	which	which	PRON
dem-8594	90	20	tend	tend	VERB
dem-8594	90	21	to	to	PART
dem-8594	90	22	be	be	AUX
dem-8594	90	23	relatively	relatively	ADV
dem-8594	90	24	close	close	ADJ
dem-8594	90	25	to	to	PART
dem-8594	90	26	normally	normally	ADV
dem-8594	90	27	distributed	distribute	VERB
dem-8594	90	28	,	,	PUNCT
dem-8594	90	29	while	while	SCONJ
dem-8594	90	30	the	the	DET
dem-8594	90	31	result	result	NOUN
dem-8594	90	32	of	of	ADP
dem-8594	90	33	implied	imply	VERB
dem-8594	90	34	volatility	volatility	NOUN
dem-8594	90	35	was	be	AUX
dem-8594	90	36	better	well	ADJ
dem-8594	90	37	in	in	ADP
dem-8594	90	38	the	the	DET
dem-8594	90	39	s&p500	s&p500	NOUN
dem-8594	90	40	futures	future	NOUN
dem-8594	90	41	,	,	PUNCT
dem-8594	90	42	which	which	PRON
dem-8594	90	43	displays	display	VERB
dem-8594	90	44	excess	excess	ADJ
dem-8594	90	45	skewness	skewness	NOUN
dem-8594	90	46	even	even	ADV
dem-8594	90	47	with	with	ADP
dem-8594	90	48	volatilities	volatility	NOUN
dem-8594	90	49	from	from	ADP
dem-8594	90	50	high	high	ADJ
dem-8594	90	51	frequency	frequency	NOUN
dem-8594	90	52	returns	return	NOUN
dem-8594	90	53	.	.	PUNCT
dem-8594	91	1	implied	imply	VERB
dem-8594	91	2	volatility	volatility	NOUN
dem-8594	91	3	is	be	AUX
dem-8594	91	4	also	also	ADV
dem-8594	91	5	considered	consider	VERB
dem-8594	91	6	as	as	ADP
dem-8594	91	7	useful	useful	ADJ
dem-8594	91	8	variable	variable	NOUN
dem-8594	91	9	for	for	ADP
dem-8594	91	10	estimating	estimate	VERB
dem-8594	91	11	quantile	quantile	NOUN
dem-8594	91	12	of	of	ADP
dem-8594	91	13	the	the	DET
dem-8594	91	14	returns	return	NOUN
dem-8594	91	15	distribution	distribution	NOUN
dem-8594	91	16	(	(	PUNCT
dem-8594	91	17	giot	giot	NOUN
dem-8594	91	18	,	,	PUNCT
dem-8594	91	19	2005	2005	NUM
dem-8594	91	20	;	;	PUNCT
dem-8594	91	21	chong	chong	PROPN
dem-8594	91	22	,	,	PUNCT
dem-8594	91	23	2004	2004	NUM
dem-8594	91	24	)	)	PUNCT
dem-8594	91	25	.	.	PUNCT
dem-8594	92	1	jeon	jeon	PROPN
dem-8594	92	2	and	and	CCONJ
dem-8594	92	3	taylor	taylor	PROPN
dem-8594	92	4	(	(	PUNCT
dem-8594	92	5	2013	2013	NUM
dem-8594	92	6	)	)	PUNCT
dem-8594	92	7	applied	apply	VERB
dem-8594	92	8	implied	imply	VERB
dem-8594	92	9	volatility	volatility	NOUN
dem-8594	92	10	to	to	PART
dem-8594	92	11	var	var	VERB
dem-8594	92	12	for	for	ADP
dem-8594	92	13	equity	equity	NOUN
dem-8594	92	14	indices	index	NOUN
dem-8594	92	15	s&p500	s&p500	PROPN
dem-8594	92	16	and	and	CCONJ
dem-8594	92	17	dax30	dax30	PROPN
dem-8594	92	18	.	.	PUNCT
dem-8594	93	1	they	they	PRON
dem-8594	93	2	construct	construct	VERB
dem-8594	93	3	an	an	DET
dem-8594	93	4	implied	imply	VERB
dem-8594	93	5	quantile	quantile	NOUN
dem-8594	93	6	(	(	PUNCT
dem-8594	93	7	iq	iq	NOUN
dem-8594	93	8	)	)	PUNCT
dem-8594	93	9	estimator	estimator	NOUN
dem-8594	93	10	as	as	ADP
dem-8594	93	11	the	the	DET
dem-8594	93	12	product	product	NOUN
dem-8594	93	13	of	of	ADP
dem-8594	93	14	the	the	DET
dem-8594	93	15	implied	imply	VERB
dem-8594	93	16	volatility	volatility	NOUN
dem-8594	93	17	recorded	record	VERB
dem-8594	93	18	in	in	ADP
dem-8594	93	19	the	the	DET
dem-8594	93	20	previous	previous	ADJ
dem-8594	93	21	period	period	NOUN
dem-8594	93	22	implied	imply	VERB
dem-8594	93	23	t	t	PROPN
dem-8594	93	24	1−σ	1−σ	NUM
dem-8594	93	25	,	,	PUNCT
dem-8594	93	26	and	and	CCONJ
dem-8594	93	27	the	the	DET
dem-8594	93	28	empirical	empirical	ADJ
dem-8594	93	29	distribution	distribution	NOUN
dem-8594	93	30	quantile	quantile	NOUN
dem-8594	93	31	)	)	PUNCT
dem-8594	93	32	(	(	PUNCT
dem-8594	93	33	αempq	αempq	NOUN
dem-8594	93	34	of	of	ADP
dem-8594	93	35	(	(	PUNCT
dem-8594	93	36	ty	ty	INTJ
dem-8594	93	37	)	)	PUNCT
dem-8594	93	38	standardised	standardise	VERB
dem-8594	93	39	by	by	ADP
dem-8594	93	40	the	the	DET
dem-8594	93	41	implied	imply	VERB
dem-8594	93	42	volatility	volatility	NOUN
dem-8594	93	43	.	.	PUNCT
dem-8594	94	1	the	the	DET
dem-8594	94	2	iq	iq	NOUN
dem-8594	94	3	estimator	estimator	NOUN
dem-8594	94	4	for	for	ADP
dem-8594	94	5	long	long	ADJ
dem-8594	94	6	and	and	CCONJ
dem-8594	94	7	short	short	ADJ
dem-8594	94	8	position	position	NOUN
dem-8594	94	9	is	be	AUX
dem-8594	94	10	expressed	express	VERB
dem-8594	94	11	in	in	ADP
dem-8594	94	12	the	the	DET
dem-8594	94	13	following	follow	VERB
dem-8594	94	14	form	form	NOUN
dem-8594	94	15	(	(	PUNCT
dem-8594	94	16	jeon	jeon	PROPN
dem-8594	94	17	,	,	PUNCT
dem-8594	94	18	taylor	taylor	PROPN
dem-8594	94	19	,	,	PUNCT
dem-8594	94	20	2013	2013	NUM
dem-8594	94	21	):	):	PUNCT
dem-8594	94	22	,	,	PUNCT
dem-8594	94	23	)	)	PUNCT
dem-8594	94	24	(=	(=	X
dem-8594	94	25	)	)	PUNCT
dem-8594	94	26	(	(	PUNCT
dem-8594	94	27	1	1	X
dem-8594	94	28	)	)	PUNCT
dem-8594	94	29	(	(	PUNCT
dem-8594	94	30	)	)	PUNCT
dem-8594	94	31	(	(	PUNCT
dem-8594	94	32	implied	imply	VERB
dem-8594	94	33	t	t	NOUN
dem-8594	94	34	lempliq	lempliq	NOUN
dem-8594	94	35	t	t	PROPN
dem-8594	94	36	qvar	qvar	PROPN
dem-8594	94	37	−σαα	−σαα	X
dem-8594	94	38	(	(	PUNCT
dem-8594	94	39	12	12	NUM
dem-8594	94	40	)	)	PUNCT
dem-8594	94	41	.)(=	.)(=	NOUN
dem-8594	94	42	)	)	PUNCT
dem-8594	94	43	(	(	PUNCT
dem-8594	94	44	1	1	NUM
dem-8594	94	45	)	)	PUNCT
dem-8594	94	46	(	(	PUNCT
dem-8594	94	47	)	)	PUNCT
dem-8594	94	48	(	(	PUNCT
dem-8594	94	49	implied	imply	VERB
dem-8594	94	50	t	t	PROPN
dem-8594	94	51	sempsiq	sempsiq	NOUN
dem-8594	94	52	t	t	PROPN
dem-8594	94	53	qvar	qvar	PROPN
dem-8594	94	54	−σαα	−σαα	X
dem-8594	94	55	(	(	PUNCT
dem-8594	94	56	13	13	NUM
dem-8594	94	57	)	)	PUNCT
dem-8594	94	58	the	the	DET
dem-8594	94	59	iq	iq	PROPN
dem-8594	94	60	approach	approach	NOUN
dem-8594	94	61	captures	capture	VERB
dem-8594	94	62	the	the	DET
dem-8594	94	63	market	market	NOUN
dem-8594	94	64	’s	’s	PART
dem-8594	94	65	expectation	expectation	NOUN
dem-8594	94	66	of	of	ADP
dem-8594	94	67	future	future	ADJ
dem-8594	94	68	risk	risk	NOUN
dem-8594	94	69	.	.	PUNCT
dem-8594	95	1	another	another	DET
dem-8594	95	2	advantage	advantage	NOUN
dem-8594	95	3	is	be	AUX
dem-8594	95	4	that	that	SCONJ
dem-8594	95	5	the	the	DET
dem-8594	95	6	method	method	NOUN
dem-8594	95	7	does	do	AUX
dem-8594	95	8	not	not	PART
dem-8594	95	9	assume	assume	VERB
dem-8594	95	10	a	a	DET
dem-8594	95	11	particular	particular	ADJ
dem-8594	95	12	distribution	distribution	NOUN
dem-8594	95	13	for	for	ADP
dem-8594	95	14	the	the	DET
dem-8594	95	15	asset	asset	NOUN
dem-8594	95	16	returns	return	NOUN
dem-8594	95	17	,	,	PUNCT
dem-8594	95	18	and	and	CCONJ
dem-8594	95	19	it	it	PRON
dem-8594	95	20	involves	involve	VERB
dem-8594	95	21	no	no	DET
dem-8594	95	22	parameter	parameter	NOUN
dem-8594	95	23	estimation	estimation	NOUN
dem-8594	95	24	.	.	PUNCT
dem-8594	96	1	jeon	jeon	PROPN
dem-8594	96	2	and	and	CCONJ
dem-8594	96	3	taylor	taylor	PROPN
dem-8594	96	4	(	(	PUNCT
dem-8594	96	5	2013	2013	NUM
dem-8594	96	6	)	)	PUNCT
dem-8594	96	7	note	note	NOUN
dem-8594	96	8	that	that	SCONJ
dem-8594	96	9	this	this	DET
dem-8594	96	10	simple	simple	ADJ
dem-8594	96	11	approach	approach	NOUN
dem-8594	96	12	to	to	PART
dem-8594	96	13	capture	capture	VERB
dem-8594	96	14	an	an	DET
dem-8594	96	15	‘	'	PUNCT
dem-8594	96	16	implied	imply	VERB
dem-8594	96	17	quantile	quantile	NOUN
dem-8594	96	18	’	'	PUNCT
dem-8594	96	19	assumes	assume	VERB
dem-8594	96	20	returns	return	NOUN
dem-8594	96	21	standardised	standardise	VERB
dem-8594	96	22	with	with	ADP
dem-8594	96	23	implied	imply	VERB
dem-8594	96	24	volatility	volatility	NOUN
dem-8594	96	25	are	be	AUX
dem-8594	96	26	i.i.d	i.i.d	ADP
dem-8594	96	27	.	.	PUNCT
dem-8594	97	1	risk	risk	NOUN
dem-8594	97	2	modeling	modeling	NOUN
dem-8594	97	3	of	of	ADP
dem-8594	97	4	commodities	commodity	NOUN
dem-8594	97	5	using	use	VERB
dem-8594	97	6	caviar	caviar	NOUN
dem-8594	97	7	models	model	NOUN
dem-8594	97	8	…	…	PUNCT
dem-8594	97	9	dynamic	dynamic	ADJ
dem-8594	97	10	econometric	econometric	ADJ
dem-8594	97	11	models	model	NOUN
dem-8594	97	12	15	15	NUM
dem-8594	97	13	(	(	PUNCT
dem-8594	97	14	2015	2015	NUM
dem-8594	97	15	)	)	PUNCT
dem-8594	98	1	129–156	129–156	NUM
dem-8594	98	2	135	135	NUM
dem-8594	98	3	1.3	1.3	NUM
dem-8594	98	4	.	.	PUNCT
dem-8594	99	1	encompassing	encompass	VERB
dem-8594	99	2	method	method	NOUN
dem-8594	99	3	jeon	jeon	PROPN
dem-8594	99	4	and	and	CCONJ
dem-8594	99	5	taylor	taylor	PROPN
dem-8594	99	6	(	(	PUNCT
dem-8594	99	7	2013	2013	NUM
dem-8594	99	8	)	)	PUNCT
dem-8594	99	9	propose	propose	VERB
dem-8594	99	10	to	to	PART
dem-8594	99	11	construct	construct	VERB
dem-8594	99	12	one	one	NUM
dem-8594	99	13	model	model	NOUN
dem-8594	99	14	encompassing	encompass	VERB
dem-8594	99	15	competitive	competitive	ADJ
dem-8594	99	16	forecast	forecast	NOUN
dem-8594	99	17	models	model	NOUN
dem-8594	99	18	.	.	PUNCT
dem-8594	100	1	such	such	ADJ
dem-8594	100	2	model	model	NOUN
dem-8594	100	3	should	should	AUX
dem-8594	100	4	generate	generate	VERB
dem-8594	100	5	better	well	ADJ
dem-8594	100	6	forecast	forecast	NOUN
dem-8594	100	7	than	than	ADP
dem-8594	100	8	every	every	DET
dem-8594	100	9	model	model	NOUN
dem-8594	100	10	separately	separately	ADV
dem-8594	100	11	.	.	PUNCT
dem-8594	101	1	this	this	DET
dem-8594	101	2	approach	approach	NOUN
dem-8594	101	3	is	be	AUX
dem-8594	101	4	called	call	VERB
dem-8594	101	5	encompassing	encompass	VERB
dem-8594	101	6	(	(	PUNCT
dem-8594	101	7	chong	chong	PROPN
dem-8594	101	8	,	,	PUNCT
dem-8594	101	9	hendry	hendry	PROPN
dem-8594	101	10	,	,	PUNCT
dem-8594	101	11	1986	1986	NUM
dem-8594	101	12	;	;	PUNCT
dem-8594	101	13	diebold	diebold	VERB
dem-8594	101	14	,	,	PUNCT
dem-8594	101	15	1989	1989	NUM
dem-8594	101	16	;	;	PUNCT
dem-8594	101	17	grajek	grajek	NOUN
dem-8594	101	18	,	,	PUNCT
dem-8594	101	19	2002	2002	NUM
dem-8594	101	20	)	)	PUNCT
dem-8594	101	21	or	or	CCONJ
dem-8594	101	22	plug	plug	VERB
dem-8594	101	23	-	-	PUNCT
dem-8594	101	24	in	in	NOUN
dem-8594	101	25	(	(	PUNCT
dem-8594	101	26	jeon	jeon	PROPN
dem-8594	101	27	,	,	PUNCT
dem-8594	101	28	taylor	taylor	PROPN
dem-8594	101	29	,	,	PUNCT
dem-8594	101	30	2013	2013	NUM
dem-8594	101	31	)	)	PUNCT
dem-8594	101	32	.	.	PUNCT
dem-8594	102	1	day	day	NOUN
dem-8594	102	2	and	and	CCONJ
dem-8594	102	3	lewis	lewis	PROPN
dem-8594	102	4	(	(	PUNCT
dem-8594	102	5	1992	1992	NUM
dem-8594	102	6	)	)	PUNCT
dem-8594	102	7	in	in	ADP
dem-8594	102	8	their	their	PRON
dem-8594	102	9	research	research	NOUN
dem-8594	102	10	show	show	VERB
dem-8594	102	11	that	that	SCONJ
dem-8594	102	12	the	the	DET
dem-8594	102	13	implied	imply	VERB
dem-8594	102	14	volatility	volatility	NOUN
dem-8594	102	15	and	and	CCONJ
dem-8594	102	16	models	model	NOUN
dem-8594	102	17	based	base	VERB
dem-8594	102	18	on	on	ADP
dem-8594	102	19	historical	historical	ADJ
dem-8594	102	20	volatility	volatility	NOUN
dem-8594	102	21	(	(	PUNCT
dem-8594	102	22	egarch	egarch	NOUN
dem-8594	102	23	or	or	CCONJ
dem-8594	102	24	garch	garch	NOUN
dem-8594	102	25	models	model	NOUN
dem-8594	102	26	)	)	PUNCT
dem-8594	102	27	does	do	AUX
dem-8594	102	28	not	not	PART
dem-8594	102	29	reflect	reflect	VERB
dem-8594	102	30	whole	whole	ADJ
dem-8594	102	31	information	information	NOUN
dem-8594	102	32	about	about	ADP
dem-8594	102	33	volatility	volatility	NOUN
dem-8594	102	34	.	.	PUNCT
dem-8594	103	1	blair	blair	PROPN
dem-8594	103	2	et	et	PROPN
dem-8594	103	3	al	al	PROPN
dem-8594	103	4	.	.	PROPN
dem-8594	104	1	(	(	PUNCT
dem-8594	104	2	2001	2001	NUM
dem-8594	104	3	)	)	PUNCT
dem-8594	104	4	received	receive	VERB
dem-8594	104	5	completely	completely	ADV
dem-8594	104	6	different	different	ADJ
dem-8594	104	7	results	result	NOUN
dem-8594	104	8	.	.	PUNCT
dem-8594	105	1	they	they	PRON
dem-8594	105	2	shows	show	VERB
dem-8594	105	3	that	that	SCONJ
dem-8594	105	4	implied	imply	VERB
dem-8594	105	5	volatility	volatility	NOUN
dem-8594	105	6	vix	vix	NOUN
dem-8594	105	7	,	,	PUNCT
dem-8594	105	8	is	be	AUX
dem-8594	105	9	a	a	DET
dem-8594	105	10	significant	significant	ADJ
dem-8594	105	11	explanatory	explanatory	ADJ
dem-8594	105	12	variable	variable	NOUN
dem-8594	105	13	for	for	ADP
dem-8594	105	14	volatility	volatility	NOUN
dem-8594	105	15	forecast	forecast	NOUN
dem-8594	105	16	of	of	ADP
dem-8594	105	17	s&p100	s&p100	NOUN
dem-8594	105	18	.	.	PUNCT
dem-8594	106	1	claessen	claessen	PROPN
dem-8594	106	2	and	and	CCONJ
dem-8594	106	3	mittnik	mittnik	X
dem-8594	106	4	(	(	PUNCT
dem-8594	106	5	2002	2002	NUM
dem-8594	106	6	)	)	PUNCT
dem-8594	106	7	and	and	CCONJ
dem-8594	106	8	giot	giot	NOUN
dem-8594	106	9	(	(	PUNCT
dem-8594	106	10	2005	2005	NUM
dem-8594	106	11	)	)	PUNCT
dem-8594	106	12	performed	perform	VERB
dem-8594	106	13	research	research	NOUN
dem-8594	106	14	over	over	ADP
dem-8594	106	15	the	the	DET
dem-8594	106	16	sample	sample	NOUN
dem-8594	106	17	.	.	PUNCT
dem-8594	107	1	claessen	claessen	PROPN
dem-8594	107	2	and	and	CCONJ
dem-8594	107	3	mittnik	mittnik	X
dem-8594	107	4	(	(	PUNCT
dem-8594	107	5	2002	2002	NUM
dem-8594	107	6	)	)	PUNCT
dem-8594	107	7	included	include	VERB
dem-8594	107	8	the	the	DET
dem-8594	107	9	implied	imply	VERB
dem-8594	107	10	volatility	volatility	NOUN
dem-8594	107	11	vdax	vdax	VERB
dem-8594	107	12	to	to	ADP
dem-8594	107	13	garch	garch	NOUN
dem-8594	107	14	model	model	NOUN
dem-8594	107	15	,	,	PUNCT
dem-8594	107	16	and	and	CCONJ
dem-8594	107	17	show	show	VERB
dem-8594	107	18	that	that	SCONJ
dem-8594	107	19	implied	imply	VERB
dem-8594	107	20	volatility	volatility	NOUN
dem-8594	107	21	reflect	reflect	VERB
dem-8594	107	22	market	market	NOUN
dem-8594	107	23	expectation	expectation	NOUN
dem-8594	107	24	about	about	ADP
dem-8594	107	25	future	future	ADJ
dem-8594	107	26	volatility	volatility	NOUN
dem-8594	107	27	of	of	ADP
dem-8594	107	28	dax	dax	PROPN
dem-8594	107	29	.	.	PUNCT
dem-8594	108	1	similarly	similarly	ADV
dem-8594	108	2	giot	giot	NOUN
dem-8594	108	3	(	(	PUNCT
dem-8594	108	4	2005	2005	NUM
dem-8594	108	5	)	)	PUNCT
dem-8594	108	6	for	for	ADP
dem-8594	108	7	nasdaq	nasdaq	PROPN
dem-8594	108	8	and	and	CCONJ
dem-8594	108	9	s&p500	s&p500	PROPN
dem-8594	108	10	shows	show	VERB
dem-8594	108	11	that	that	SCONJ
dem-8594	108	12	implied	imply	VERB
dem-8594	108	13	volatility	volatility	NOUN
dem-8594	108	14	vic	vic	PROPN
dem-8594	108	15	and	and	CCONJ
dem-8594	108	16	vxn	vxn	NOUN
dem-8594	108	17	included	include	VERB
dem-8594	108	18	in	in	ADP
dem-8594	108	19	garch	garch	NOUN
dem-8594	108	20	models	model	NOUN
dem-8594	108	21	improves	improve	VERB
dem-8594	108	22	a	a	DET
dem-8594	108	23	volatility	volatility	NOUN
dem-8594	108	24	forecast	forecast	NOUN
dem-8594	108	25	.	.	PUNCT
dem-8594	109	1	jeon	jeon	PROPN
dem-8594	109	2	and	and	CCONJ
dem-8594	109	3	taylor	taylor	PROPN
dem-8594	109	4	(	(	PUNCT
dem-8594	109	5	2013	2013	NUM
dem-8594	109	6	)	)	PUNCT
dem-8594	109	7	analyzing	analyze	VERB
dem-8594	109	8	the	the	DET
dem-8594	109	9	results	result	NOUN
dem-8594	109	10	of	of	ADP
dem-8594	109	11	previous	previous	ADJ
dem-8594	109	12	research	research	NOUN
dem-8594	109	13	of	of	ADP
dem-8594	109	14	encompassing	encompass	VERB
dem-8594	109	15	method	method	NOUN
dem-8594	109	16	,	,	PUNCT
dem-8594	109	17	decided	decide	VERB
dem-8594	109	18	to	to	PART
dem-8594	109	19	check	check	VERB
dem-8594	109	20	the	the	DET
dem-8594	109	21	possibility	possibility	NOUN
dem-8594	109	22	to	to	PART
dem-8594	109	23	receive	receive	VERB
dem-8594	109	24	a	a	DET
dem-8594	109	25	better	well	ADJ
dem-8594	109	26	estimate	estimate	NOUN
dem-8594	109	27	of	of	ADP
dem-8594	109	28	var	var	NOUN
dem-8594	109	29	if	if	SCONJ
dem-8594	109	30	information	information	NOUN
dem-8594	109	31	from	from	ADP
dem-8594	109	32	historical	historical	ADJ
dem-8594	109	33	time	time	NOUN
dem-8594	109	34	series	series	NOUN
dem-8594	109	35	and	and	CCONJ
dem-8594	109	36	information	information	NOUN
dem-8594	109	37	regarding	regard	VERB
dem-8594	109	38	risk	risk	NOUN
dem-8594	109	39	expected	expect	VERB
dem-8594	109	40	by	by	ADP
dem-8594	109	41	market	market	NOUN
dem-8594	109	42	are	be	AUX
dem-8594	109	43	combined	combine	VERB
dem-8594	109	44	.	.	PUNCT
dem-8594	110	1	the	the	DET
dem-8594	110	2	rationale	rationale	NOUN
dem-8594	110	3	for	for	ADP
dem-8594	110	4	their	their	PRON
dem-8594	110	5	research	research	NOUN
dem-8594	110	6	was	be	AUX
dem-8594	110	7	that	that	SCONJ
dem-8594	110	8	if	if	SCONJ
dem-8594	110	9	the	the	DET
dem-8594	110	10	implied	imply	VERB
dem-8594	110	11	volatility	volatility	NOUN
dem-8594	110	12	forecasts	forecast	VERB
dem-8594	110	13	the	the	DET
dem-8594	110	14	future	future	NOUN
dem-8594	110	15	well	well	ADV
dem-8594	110	16	,	,	PUNCT
dem-8594	110	17	it	it	PRON
dem-8594	110	18	should	should	AUX
dem-8594	110	19	be	be	AUX
dem-8594	110	20	useful	useful	ADJ
dem-8594	110	21	in	in	ADP
dem-8594	110	22	estimating	estimate	VERB
dem-8594	110	23	future	future	ADJ
dem-8594	110	24	quantile	quantile	NOUN
dem-8594	110	25	of	of	ADP
dem-8594	110	26	returns	return	NOUN
dem-8594	110	27	distribution	distribution	NOUN
dem-8594	110	28	.	.	PUNCT
dem-8594	111	1	they	they	PRON
dem-8594	111	2	include	include	VERB
dem-8594	111	3	the	the	DET
dem-8594	111	4	implied	imply	VERB
dem-8594	111	5	quantile	quantile	NOUN
dem-8594	111	6	expressed	express	VERB
dem-8594	111	7	by	by	ADP
dem-8594	111	8	equation	equation	NOUN
dem-8594	111	9	(	(	PUNCT
dem-8594	111	10	12	12	NUM
dem-8594	111	11	)	)	PUNCT
dem-8594	111	12	or	or	CCONJ
dem-8594	111	13	(	(	PUNCT
dem-8594	111	14	13	13	NUM
dem-8594	111	15	)	)	PUNCT
dem-8594	111	16	to	to	ADP
dem-8594	111	17	the	the	DET
dem-8594	111	18	caviar	caviar	NOUN
dem-8594	111	19	models	model	NOUN
dem-8594	111	20	as	as	ADP
dem-8594	111	21	an	an	DET
dem-8594	111	22	explanatory	explanatory	ADJ
dem-8594	111	23	variable	variable	NOUN
dem-8594	111	24	.	.	PUNCT
dem-8594	112	1	the	the	DET
dem-8594	112	2	impact	impact	NOUN
dem-8594	112	3	of	of	ADP
dem-8594	112	4	implied	imply	VERB
dem-8594	112	5	volatility	volatility	NOUN
dem-8594	112	6	on	on	ADP
dem-8594	112	7	var	var	NOUN
dem-8594	112	8	can	can	AUX
dem-8594	112	9	be	be	AUX
dem-8594	112	10	determined	determine	VERB
dem-8594	112	11	by	by	ADP
dem-8594	112	12	coefficient	coefficient	NOUN
dem-8594	112	13	iqβ	iqβ	NOUN
dem-8594	112	14	.	.	PUNCT
dem-8594	113	1	the	the	DET
dem-8594	113	2	following	follow	VERB
dem-8594	113	3	models	model	NOUN
dem-8594	113	4	are	be	AUX
dem-8594	113	5	analysed	analyse	VERB
dem-8594	113	6	in	in	ADP
dem-8594	113	7	our	our	PRON
dem-8594	113	8	research	research	NOUN
dem-8594	113	9	(	(	PUNCT
dem-8594	113	10	jeon	jeon	PROPN
dem-8594	113	11	,	,	PUNCT
dem-8594	113	12	taylor	taylor	PROPN
dem-8594	113	13	,	,	PUNCT
dem-8594	113	14	2013	2013	NUM
dem-8594	113	15	):	):	PUNCT
dem-8594	113	16	1	1	NUM
dem-8594	113	17	.	.	X
dem-8594	113	18	symmetric	symmetric	ADJ
dem-8594	113	19	absolute	absolute	ADJ
dem-8594	113	20	value	value	NOUN
dem-8594	113	21	plugin	plugin	NOUN
dem-8594	113	22	:	:	PUNCT
dem-8594	113	23	(	(	PUNCT
dem-8594	113	24	sav	sav	X
dem-8594	113	25	-	-	NOUN
dem-8594	113	26	plugin	plugin	NOUN
dem-8594	113	27	):	):	PUNCT
dem-8594	113	28	,	,	PUNCT
dem-8594	113	29	)	)	PUNCT
dem-8594	113	30	(	(	PUNCT
dem-8594	113	31	)	)	PUNCT
dem-8594	113	32	,	,	PUNCT
dem-8594	113	33	(=	(=	ADV
dem-8594	113	34	)	)	PUNCT
dem-8594	113	35	,	,	PUNCT
dem-8594	113	36	(	(	PUNCT
dem-8594	113	37	)	)	PUNCT
dem-8594	113	38	(	(	PUNCT
dem-8594	113	39	12110	12110	NUM
dem-8594	113	40	αβββαβββα	αβββαβββα	VERB
dem-8594	113	41	liq	liq	NOUN
dem-8594	113	42	tiqt	tiqt	ADP
dem-8594	113	43	l	l	PROPN
dem-8594	113	44	t	t	PROPN
dem-8594	113	45	l	l	PROPN
dem-8594	113	46	t	t	PROPN
dem-8594	113	47	varyvarvar	varyvarvar	NOUN
dem-8594	114	1	+	+	PROPN
dem-8594	114	2	+	+	PROPN
dem-8594	114	3	+	+	ADJ
dem-8594	114	4	−−	−−	NOUN
dem-8594	114	5	(	(	PUNCT
dem-8594	114	6	14	14	NUM
dem-8594	114	7	)	)	PUNCT
dem-8594	114	8	.)(),(=	.)(),(=	PROPN
dem-8594	114	9	)	)	PUNCT
dem-8594	114	10	,	,	PUNCT
dem-8594	114	11	(	(	PUNCT
dem-8594	114	12	)	)	PUNCT
dem-8594	114	13	(	(	PUNCT
dem-8594	114	14	12110	12110	NUM
dem-8594	114	15	αβββαβββα	αβββαβββα	VERB
dem-8594	114	16	siq	siq	PROPN
dem-8594	114	17	tiqt	tiqt	PROPN
dem-8594	114	18	s	s	PROPN
dem-8594	114	19	t	t	PROPN
dem-8594	114	20	s	s	PROPN
dem-8594	114	21	t	t	PROPN
dem-8594	114	22	varyvarvar	varyvarvar	NOUN
dem-8594	115	1	+	+	PROPN
dem-8594	115	2	+	+	PROPN
dem-8594	115	3	+	+	ADJ
dem-8594	115	4	−−	−−	NOUN
dem-8594	115	5	(	(	PUNCT
dem-8594	115	6	15	15	NUM
dem-8594	115	7	)	)	SYM
dem-8594	115	8	2	2	NUM
dem-8594	115	9	.	.	X
dem-8594	115	10	asymmetric	asymmetric	ADJ
dem-8594	115	11	slope	slope	NOUN
dem-8594	115	12	plugin	plugin	NOUN
dem-8594	115	13	:	:	PUNCT
dem-8594	115	14	(	(	PUNCT
dem-8594	115	15	as	as	ADP
dem-8594	115	16	-	-	PUNCT
dem-8594	115	17	plugin	plugin	NOUN
dem-8594	115	18	):	):	PUNCT
dem-8594	115	19	,	,	PUNCT
dem-8594	115	20	)	)	PUNCT
dem-8594	115	21	(	(	PUNCT
dem-8594	115	22	0)<(0)(),(=	0)<(0)(),(=	NOUN
dem-8594	115	23	)	)	PUNCT
dem-8594	115	24	,	,	PUNCT
dem-8594	115	25	(	(	PUNCT
dem-8594	115	26	)	)	PUNCT
dem-8594	115	27	(	(	PUNCT
dem-8594	115	28	1131111	1131111	NUM
dem-8594	115	29	αβ	αβ	DET
dem-8594	115	30	βββαβα	βββαβα	ADJ
dem-8594	115	31	liq	liq	NOUN
dem-8594	115	32	tiq	tiq	PROPN
dem-8594	115	33	tttt	tttt	PROPN
dem-8594	115	34	l	l	PROPN
dem-8594	115	35	t	t	PROPN
dem-8594	115	36	l	l	PROPN
dem-8594	115	37	t	t	PROPN
dem-8594	115	38	var	var	NOUN
dem-8594	115	39	yiyyiyvarvar	yiyyiyvarvar	NOUN
dem-8594	116	1	+	+	CCONJ
dem-8594	116	2	+	+	ADJ
dem-8594	116	3	+	+	ADJ
dem-8594	116	4	≥+	≥+	NOUN
dem-8594	116	5	−−−−−	−−−−−	X
dem-8594	116	6	(	(	PUNCT
dem-8594	116	7	16	16	NUM
dem-8594	116	8	)	)	PUNCT
dem-8594	116	9	ewa	ewa	PROPN
dem-8594	116	10	ratuszny	ratuszny	VERB
dem-8594	116	11	dynamic	dynamic	ADJ
dem-8594	116	12	econometric	econometric	ADJ
dem-8594	116	13	models	model	NOUN
dem-8594	116	14	15	15	NUM
dem-8594	116	15	(	(	PUNCT
dem-8594	116	16	2015	2015	NUM
dem-8594	116	17	)	)	PUNCT
dem-8594	116	18	129–156	129–156	NUM
dem-8594	116	19	136	136	NUM
dem-8594	116	20	.	.	PUNCT
dem-8594	116	21	)	)	PUNCT
dem-8594	117	1	(	(	PUNCT
dem-8594	117	2	0)<(0)(),(=	0)<(0)(),(=	NOUN
dem-8594	117	3	)	)	PUNCT
dem-8594	117	4	,	,	PUNCT
dem-8594	117	5	(	(	PUNCT
dem-8594	117	6	)	)	PUNCT
dem-8594	117	7	(	(	PUNCT
dem-8594	117	8	1131111	1131111	NUM
dem-8594	117	9	αβ	αβ	NOUN
dem-8594	117	10	βββαβα	βββαβα	NOUN
dem-8594	117	11	siq	siq	PROPN
dem-8594	117	12	tiq	tiq	PROPN
dem-8594	117	13	tttt	tttt	PROPN
dem-8594	117	14	s	s	PROPN
dem-8594	117	15	t	t	PROPN
dem-8594	117	16	s	s	PROPN
dem-8594	117	17	t	t	NOUN
dem-8594	117	18	var	var	NOUN
dem-8594	117	19	yiyyiyvarvar	yiyyiyvarvar	NOUN
dem-8594	118	1	+	+	CCONJ
dem-8594	118	2	+	+	ADJ
dem-8594	118	3	+	+	ADJ
dem-8594	118	4	≥+	≥+	NOUN
dem-8594	118	5	−−−−−	−−−−−	X
dem-8594	118	6	(	(	PUNCT
dem-8594	118	7	17	17	NUM
dem-8594	118	8	)	)	SYM
dem-8594	118	9	3	3	NUM
dem-8594	118	10	.	.	PUNCT
dem-8594	118	11	indirect	indirect	ADJ
dem-8594	118	12	garch(1,1	garch(1,1	NOUN
dem-8594	118	13	)	)	PUNCT
dem-8594	118	14	plugin	plugin	NOUN
dem-8594	118	15	(	(	PUNCT
dem-8594	118	16	igarch	igarch	NOUN
dem-8594	118	17	-	-	PUNCT
dem-8594	118	18	plugin	plugin	NOUN
dem-8594	118	19	):	):	PUNCT
dem-8594	118	20	[	[	PUNCT
dem-8594	118	21	]	]	X
dem-8594	118	22	[	[	PUNCT
dem-8594	118	23	]	]	X
dem-8594	118	24	{	{	PUNCT
dem-8594	118	25	}	}	PUNCT
dem-8594	118	26	2	2	NUM
dem-8594	118	27	1	1	NUM
dem-8594	118	28	2)(2	2)(2	NUM
dem-8594	118	29	13	13	NUM
dem-8594	118	30	2	2	NUM
dem-8594	118	31	121	121	NUM
dem-8594	118	32	)	)	PUNCT
dem-8594	118	33	(	(	PUNCT
dem-8594	118	34	)	)	PUNCT
dem-8594	118	35	,	,	PUNCT
dem-8594	118	36	(=	(=	NOUN
dem-8594	118	37	)	)	PUNCT
dem-8594	118	38	,	,	PUNCT
dem-8594	118	39	(	(	PUNCT
dem-8594	118	40	αβββαβββα	αβββαβββα	VERB
dem-8594	118	41	liq	liq	NOUN
dem-8594	118	42	tiqt	tiqt	ADP
dem-8594	118	43	l	l	PROPN
dem-8594	118	44	t	t	PROPN
dem-8594	118	45	l	l	PROPN
dem-8594	118	46	t	t	PROPN
dem-8594	118	47	varyvarvar	varyvarvar	NOUN
dem-8594	119	1	+	+	PROPN
dem-8594	119	2	+	+	PROPN
dem-8594	119	3	+	+	ADJ
dem-8594	119	4	−−	−−	NOUN
dem-8594	119	5	(	(	PUNCT
dem-8594	119	6	18	18	NUM
dem-8594	119	7	)	)	PUNCT
dem-8594	119	8	[	[	PUNCT
dem-8594	119	9	]	]	X
dem-8594	119	10	[	[	PUNCT
dem-8594	119	11	]	]	X
dem-8594	119	12	{	{	PUNCT
dem-8594	119	13	}	}	PUNCT
dem-8594	119	14	.)(),(=	.)(),(=	PROPN
dem-8594	119	15	)	)	PUNCT
dem-8594	119	16	,	,	PUNCT
dem-8594	119	17	(	(	PUNCT
dem-8594	119	18	2	2	NUM
dem-8594	119	19	1	1	NUM
dem-8594	119	20	2)(2	2)(2	NUM
dem-8594	119	21	13	13	NUM
dem-8594	119	22	2	2	NUM
dem-8594	119	23	121	121	NUM
dem-8594	119	24	αβββαβββα	αβββαβββα	VERB
dem-8594	119	25	siq	siq	PROPN
dem-8594	119	26	tiqt	tiqt	PROPN
dem-8594	119	27	s	s	PROPN
dem-8594	119	28	t	t	PROPN
dem-8594	119	29	s	s	PROPN
dem-8594	119	30	t	t	PROPN
dem-8594	119	31	varyvarvar	varyvarvar	NOUN
dem-8594	120	1	+	+	PROPN
dem-8594	120	2	+	+	PROPN
dem-8594	120	3	+	+	ADJ
dem-8594	120	4	−−	−−	NOUN
dem-8594	120	5	(	(	PUNCT
dem-8594	120	6	19	19	NUM
dem-8594	120	7	)	)	PUNCT
dem-8594	120	8	4	4	NUM
dem-8594	120	9	.	.	X
dem-8594	120	10	adaptive	adaptive	ADJ
dem-8594	120	11	plugin	plugin	NOUN
dem-8594	120	12	(	(	PUNCT
dem-8594	120	13	ad	ad	NOUN
dem-8594	120	14	-	-	PUNCT
dem-8594	120	15	plugin	plugin	NOUN
dem-8594	120	16	)	)	PUNCT
dem-8594	120	17	:	:	PUNCT
dem-8594	120	18	(	(	PUNCT
dem-8594	120	19	)	)	PUNCT
dem-8594	120	20	[	[	PUNCT
dem-8594	120	21	]	]	X
dem-8594	120	22	{	{	PUNCT
dem-8594	120	23	}	}	PUNCT
dem-8594	120	24	,	,	PUNCT
dem-8594	120	25	)	)	PUNCT
dem-8594	120	26	(	(	PUNCT
dem-8594	120	27	)	)	PUNCT
dem-8594	120	28	]	]	PUNCT
dem-8594	120	29	,	,	PUNCT
dem-8594	120	30	(	(	PUNCT
dem-8594	120	31	[	[	X
dem-8594	120	32	exp1	exp1	NOUN
dem-8594	120	33	)	)	PUNCT
dem-8594	120	34	,	,	PUNCT
dem-8594	120	35	(	(	PUNCT
dem-8594	120	36	=)	=)	INTJ
dem-8594	120	37	,	,	PUNCT
dem-8594	120	38	(	(	PUNCT
dem-8594	120	39	)	)	PUNCT
dem-8594	120	40	(	(	PUNCT
dem-8594	120	41	1	1	NUM
dem-8594	120	42	113	113	NUM
dem-8594	120	43	121	121	NUM
dem-8594	120	44	αβαβαβ	αβαβαβ	NOUN
dem-8594	120	45	βαβββα	βαβββα	NOUN
dem-8594	120	46	liq	liq	NOUN
dem-8594	120	47	tiq	tiq	PROPN
dem-8594	120	48	l	l	NOUN
dem-8594	120	49	tt	tt	PROPN
dem-8594	120	50	l	l	PROPN
dem-8594	120	51	t	t	PROPN
dem-8594	120	52	ll	ll	AUX
dem-8594	120	53	t	t	PROPN
dem-8594	120	54	varvaryg	varvaryg	VERB
dem-8594	120	55	varvar	varvar	VERB
dem-8594	121	1	+	+	ADJ
dem-8594	121	2	−−+	−−+	PROPN
dem-8594	121	3	+	+	ADJ
dem-8594	121	4	+	+	NUM
dem-8594	121	5	−	−	PROPN
dem-8594	121	6	−−	−−	NOUN
dem-8594	121	7	−	−	PROPN
dem-8594	121	8	(	(	PUNCT
dem-8594	121	9	20	20	NUM
dem-8594	121	10	)	)	PUNCT
dem-8594	121	11	(	(	PUNCT
dem-8594	121	12	)	)	PUNCT
dem-8594	121	13	[	[	PUNCT
dem-8594	121	14	]	]	X
dem-8594	121	15	{	{	PUNCT
dem-8594	121	16	}	}	PUNCT
dem-8594	121	17	.)()],([exp1	.)()],([exp1	PROPN
dem-8594	121	18	)	)	PUNCT
dem-8594	121	19	,	,	PUNCT
dem-8594	121	20	(	(	PUNCT
dem-8594	121	21	=)	=)	INTJ
dem-8594	121	22	,	,	PUNCT
dem-8594	121	23	(	(	PUNCT
dem-8594	121	24	)	)	PUNCT
dem-8594	121	25	(	(	PUNCT
dem-8594	121	26	1	1	NUM
dem-8594	121	27	113	113	NUM
dem-8594	121	28	121	121	NUM
dem-8594	121	29	αβαβαβ	αβαβαβ	NOUN
dem-8594	121	30	βαβββα	βαβββα	NOUN
dem-8594	121	31	siq	siq	PROPN
dem-8594	121	32	tiq	tiq	PROPN
dem-8594	121	33	s	s	PROPN
dem-8594	121	34	tt	tt	PROPN
dem-8594	121	35	s	s	PROPN
dem-8594	121	36	t	t	PROPN
dem-8594	121	37	s	s	PROPN
dem-8594	121	38	t	t	PROPN
dem-8594	121	39	varvaryg	varvaryg	NOUN
dem-8594	121	40	varvar	varvar	PROPN
dem-8594	122	1	+	+	NOUN
dem-8594	122	2	−−++	−−++	ADJ
dem-8594	122	3	+	+	ADJ
dem-8594	122	4	+	+	CCONJ
dem-8594	122	5	−	−	PROPN
dem-8594	122	6	−−	−−	NOUN
dem-8594	122	7	−	−	PROPN
dem-8594	122	8	(	(	PUNCT
dem-8594	122	9	21	21	NUM
dem-8594	122	10	)	)	PUNCT
dem-8594	122	11	notations	notation	NOUN
dem-8594	122	12	in	in	ADP
dem-8594	122	13	the	the	DET
dem-8594	122	14	models	model	NOUN
dem-8594	122	15	are	be	AUX
dem-8594	122	16	the	the	DET
dem-8594	122	17	same	same	ADJ
dem-8594	122	18	as	as	ADP
dem-8594	122	19	in	in	ADP
dem-8594	122	20	part	part	NOUN
dem-8594	122	21	1.1	1.1	NUM
dem-8594	122	22	.	.	PUNCT
dem-8594	123	1	and	and	CCONJ
dem-8594	124	1	1.2	1.2	NUM
dem-8594	124	2	.	.	X
dem-8594	124	3	1.3	1.3	NUM
dem-8594	124	4	.	.	PUNCT
dem-8594	124	5	1.4	1.4	NUM
dem-8594	124	6	.	.	PUNCT
dem-8594	125	1	combining	combine	VERB
dem-8594	125	2	method	method	NOUN
dem-8594	125	3	to	to	PART
dem-8594	125	4	var	var	PROPN
dem-8594	125	5	forecast	forecast	VERB
dem-8594	125	6	if	if	SCONJ
dem-8594	125	7	it	it	PRON
dem-8594	125	8	is	be	AUX
dem-8594	125	9	not	not	PART
dem-8594	125	10	clear	clear	ADJ
dem-8594	125	11	which	which	PRON
dem-8594	125	12	of	of	ADP
dem-8594	125	13	two	two	NUM
dem-8594	125	14	forecasts	forecast	NOUN
dem-8594	125	15	performs	perform	VERB
dem-8594	125	16	better	well	ADJ
dem-8594	125	17	,	,	PUNCT
dem-8594	125	18	a	a	DET
dem-8594	125	19	combination	combination	NOUN
dem-8594	125	20	can	can	AUX
dem-8594	125	21	be	be	AUX
dem-8594	125	22	the	the	DET
dem-8594	125	23	best	good	ADJ
dem-8594	125	24	option	option	NOUN
dem-8594	125	25	(	(	PUNCT
dem-8594	125	26	bates	bate	NOUN
dem-8594	125	27	,	,	PUNCT
dem-8594	125	28	granger	granger	NOUN
dem-8594	125	29	,	,	PUNCT
dem-8594	125	30	1969	1969	NUM
dem-8594	125	31	)	)	PUNCT
dem-8594	125	32	.	.	PUNCT
dem-8594	126	1	combining	combine	VERB
dem-8594	126	2	methods	method	NOUN
dem-8594	126	3	include	include	VERB
dem-8594	126	4	information	information	NOUN
dem-8594	126	5	contained	contain	VERB
dem-8594	126	6	in	in	ADP
dem-8594	126	7	each	each	PRON
dem-8594	126	8	of	of	ADP
dem-8594	126	9	individual	individual	ADJ
dem-8594	126	10	forecast	forecast	NOUN
dem-8594	126	11	.	.	PUNCT
dem-8594	127	1	according	accord	VERB
dem-8594	127	2	to	to	ADP
dem-8594	127	3	armstrong	armstrong	PROPN
dem-8594	127	4	(	(	PUNCT
dem-8594	127	5	2001	2001	NUM
dem-8594	127	6	)	)	PUNCT
dem-8594	127	7	the	the	DET
dem-8594	127	8	combined	combine	VERB
dem-8594	127	9	forecasts	forecast	NOUN
dem-8594	127	10	should	should	AUX
dem-8594	127	11	be	be	AUX
dem-8594	127	12	applied	apply	VERB
dem-8594	127	13	if	if	SCONJ
dem-8594	127	14	several	several	ADJ
dem-8594	127	15	different	different	ADJ
dem-8594	127	16	models	model	NOUN
dem-8594	127	17	can	can	AUX
dem-8594	127	18	be	be	AUX
dem-8594	127	19	combined	combine	VERB
dem-8594	127	20	to	to	PART
dem-8594	127	21	obtain	obtain	VERB
dem-8594	127	22	better	well	ADJ
dem-8594	127	23	forecast	forecast	NOUN
dem-8594	127	24	,	,	PUNCT
dem-8594	127	25	there	there	PRON
dem-8594	127	26	is	be	VERB
dem-8594	127	27	no	no	DET
dem-8594	127	28	certainty	certainty	NOUN
dem-8594	127	29	about	about	ADP
dem-8594	127	30	the	the	DET
dem-8594	127	31	future	future	ADJ
dem-8594	127	32	state	state	NOUN
dem-8594	127	33	of	of	ADP
dem-8594	127	34	the	the	DET
dem-8594	127	35	object	object	NOUN
dem-8594	127	36	forecast	forecast	NOUN
dem-8594	127	37	,	,	PUNCT
dem-8594	127	38	and	and	CCONJ
dem-8594	127	39	where	where	SCONJ
dem-8594	127	40	large	large	ADJ
dem-8594	127	41	forecasting	forecasting	NOUN
dem-8594	127	42	error	error	NOUN
dem-8594	127	43	involves	involve	VERB
dem-8594	127	44	a	a	DET
dem-8594	127	45	high	high	ADJ
dem-8594	127	46	cost	cost	NOUN
dem-8594	127	47	.	.	PUNCT
dem-8594	128	1	by	by	ADP
dem-8594	128	2	combining	combine	VERB
dem-8594	128	3	forecasters	forecaster	NOUN
dem-8594	128	4	should	should	AUX
dem-8594	128	5	able	able	ADJ
dem-8594	128	6	to	to	PART
dem-8594	128	7	reduce	reduce	VERB
dem-8594	128	8	inconsistency	inconsistency	NOUN
dem-8594	128	9	in	in	ADP
dem-8594	128	10	estimates	estimate	NOUN
dem-8594	128	11	and	and	CCONJ
dem-8594	128	12	to	to	PART
dem-8594	128	13	cancel	cancel	VERB
dem-8594	128	14	out	out	ADP
dem-8594	128	15	biases	bias	NOUN
dem-8594	128	16	to	to	ADP
dem-8594	128	17	some	some	DET
dem-8594	128	18	extent	extent	NOUN
dem-8594	128	19	.	.	PUNCT
dem-8594	129	1	the	the	DET
dem-8594	129	2	work	work	NOUN
dem-8594	129	3	by	by	ADP
dem-8594	129	4	bates	bate	NOUN
dem-8594	129	5	and	and	CCONJ
dem-8594	129	6	granger	granger	PROPN
dem-8594	129	7	(	(	PUNCT
dem-8594	129	8	1969	1969	NUM
dem-8594	129	9	)	)	PUNCT
dem-8594	129	10	often	often	ADV
dem-8594	129	11	is	be	AUX
dem-8594	129	12	considered	consider	VERB
dem-8594	129	13	to	to	PART
dem-8594	129	14	be	be	AUX
dem-8594	129	15	the	the	DET
dem-8594	129	16	seminal	seminal	ADJ
dem-8594	129	17	article	article	NOUN
dem-8594	129	18	on	on	ADP
dem-8594	129	19	combining	combine	VERB
dem-8594	129	20	forecasts	forecast	NOUN
dem-8594	129	21	.	.	PUNCT
dem-8594	130	1	they	they	PRON
dem-8594	130	2	combined	combine	VERB
dem-8594	130	3	two	two	NUM
dem-8594	130	4	separate	separate	ADJ
dem-8594	130	5	sets	set	NOUN
dem-8594	130	6	of	of	ADP
dem-8594	130	7	forecasts	forecast	NOUN
dem-8594	130	8	of	of	ADP
dem-8594	130	9	airline	airline	NOUN
dem-8594	130	10	passenger	passenger	NOUN
dem-8594	130	11	data	datum	NOUN
dem-8594	130	12	to	to	PART
dem-8594	130	13	form	form	VERB
dem-8594	130	14	a	a	DET
dem-8594	130	15	composite	composite	ADJ
dem-8594	130	16	set	set	NOUN
dem-8594	130	17	of	of	ADP
dem-8594	130	18	forecasts	forecast	NOUN
dem-8594	130	19	.	.	PUNCT
dem-8594	131	1	they	they	PRON
dem-8594	131	2	concluded	conclude	VERB
dem-8594	131	3	that	that	SCONJ
dem-8594	131	4	the	the	DET
dem-8594	131	5	composite	composite	ADJ
dem-8594	131	6	set	set	NOUN
dem-8594	131	7	of	of	ADP
dem-8594	131	8	forecasts	forecast	NOUN
dem-8594	131	9	can	can	AUX
dem-8594	131	10	yield	yield	VERB
dem-8594	131	11	lower	low	ADJ
dem-8594	131	12	mean	mean	ADJ
dem-8594	131	13	-	-	PUNCT
dem-8594	131	14	square	square	NOUN
dem-8594	131	15	error	error	NOUN
dem-8594	131	16	than	than	ADP
dem-8594	131	17	either	either	PRON
dem-8594	131	18	of	of	ADP
dem-8594	131	19	the	the	DET
dem-8594	131	20	original	original	ADJ
dem-8594	131	21	forecasts	forecast	NOUN
dem-8594	131	22	.	.	PUNCT
dem-8594	132	1	past	past	ADJ
dem-8594	132	2	errors	error	NOUN
dem-8594	132	3	of	of	ADP
dem-8594	132	4	each	each	PRON
dem-8594	132	5	of	of	ADP
dem-8594	132	6	the	the	DET
dem-8594	132	7	original	original	ADJ
dem-8594	132	8	forecasts	forecast	NOUN
dem-8594	132	9	are	be	AUX
dem-8594	132	10	used	use	VERB
dem-8594	132	11	to	to	PART
dem-8594	132	12	determine	determine	VERB
dem-8594	132	13	the	the	DET
dem-8594	132	14	weights	weight	NOUN
dem-8594	132	15	to	to	PART
dem-8594	132	16	attach	attach	VERB
dem-8594	132	17	to	to	ADP
dem-8594	132	18	these	these	DET
dem-8594	132	19	two	two	NUM
dem-8594	132	20	original	original	ADJ
dem-8594	132	21	forecasts	forecast	NOUN
dem-8594	132	22	in	in	ADP
dem-8594	132	23	forming	form	VERB
dem-8594	132	24	the	the	DET
dem-8594	132	25	combined	combine	VERB
dem-8594	132	26	forecasts	forecast	NOUN
dem-8594	132	27	.	.	PUNCT
dem-8594	133	1	they	they	PRON
dem-8594	133	2	also	also	ADV
dem-8594	133	3	examined	examine	VERB
dem-8594	133	4	different	different	ADJ
dem-8594	133	5	methods	method	NOUN
dem-8594	133	6	of	of	ADP
dem-8594	133	7	deriving	derive	VERB
dem-8594	133	8	these	these	DET
dem-8594	133	9	weights	weight	NOUN
dem-8594	133	10	.	.	PUNCT
dem-8594	134	1	combined	combine	VERB
dem-8594	134	2	forecasts	forecast	NOUN
dem-8594	134	3	for	for	ADP
dem-8594	134	4	economy	economy	NOUN
dem-8594	134	5	risk	risk	NOUN
dem-8594	134	6	modeling	modeling	NOUN
dem-8594	134	7	of	of	ADP
dem-8594	134	8	commodities	commodity	NOUN
dem-8594	134	9	using	use	VERB
dem-8594	134	10	caviar	caviar	NOUN
dem-8594	134	11	models	model	NOUN
dem-8594	134	12	…	…	PUNCT
dem-8594	134	13	dynamic	dynamic	ADJ
dem-8594	134	14	econometric	econometric	ADJ
dem-8594	134	15	models	model	NOUN
dem-8594	134	16	15	15	NUM
dem-8594	134	17	(	(	PUNCT
dem-8594	134	18	2015	2015	NUM
dem-8594	134	19	)	)	PUNCT
dem-8594	134	20	129–156	129–156	NUM
dem-8594	134	21	137	137	NUM
dem-8594	134	22	indicators	indicator	NOUN
dem-8594	134	23	are	be	AUX
dem-8594	134	24	subject	subject	ADJ
dem-8594	134	25	of	of	ADP
dem-8594	134	26	research	research	NOUN
dem-8594	134	27	of	of	ADP
dem-8594	134	28	crane	crane	NOUN
dem-8594	134	29	and	and	CCONJ
dem-8594	134	30	crotty	crotty	PROPN
dem-8594	134	31	(	(	PUNCT
dem-8594	134	32	1967	1967	NUM
dem-8594	134	33	)	)	PUNCT
dem-8594	134	34	,	,	PUNCT
dem-8594	134	35	zarnowitz	zarnowitz	NOUN
dem-8594	134	36	(	(	PUNCT
dem-8594	134	37	1967	1967	NUM
dem-8594	134	38	)	)	PUNCT
dem-8594	134	39	,	,	PUNCT
dem-8594	134	40	nelson	nelson	PROPN
dem-8594	134	41	(	(	PUNCT
dem-8594	134	42	1972	1972	NUM
dem-8594	134	43	,	,	PUNCT
dem-8594	134	44	1984	1984	NUM
dem-8594	134	45	)	)	PUNCT
dem-8594	134	46	.	.	PUNCT
dem-8594	135	1	despite	despite	SCONJ
dem-8594	135	2	the	the	DET
dem-8594	135	3	criticism	criticism	NOUN
dem-8594	135	4	of	of	ADP
dem-8594	135	5	combined	combined	ADJ
dem-8594	135	6	forecasts	forecast	NOUN
dem-8594	135	7	(	(	PUNCT
dem-8594	135	8	e.g.	e.g.	ADV
dem-8594	135	9	diebold	diebold	VERB
dem-8594	135	10	(	(	PUNCT
dem-8594	135	11	1989	1989	NUM
dem-8594	135	12	)	)	PUNCT
dem-8594	135	13	showed	show	VERB
dem-8594	135	14	that	that	SCONJ
dem-8594	135	15	it	it	PRON
dem-8594	135	16	is	be	AUX
dem-8594	135	17	better	well	ADJ
dem-8594	135	18	to	to	PART
dem-8594	135	19	improve	improve	VERB
dem-8594	135	20	one	one	NUM
dem-8594	135	21	of	of	ADP
dem-8594	135	22	the	the	DET
dem-8594	135	23	single	single	ADJ
dem-8594	135	24	models	model	NOUN
dem-8594	135	25	,	,	PUNCT
dem-8594	135	26	rather	rather	ADV
dem-8594	135	27	than	than	ADP
dem-8594	135	28	relying	rely	VERB
dem-8594	135	29	on	on	ADP
dem-8594	135	30	combining	combine	VERB
dem-8594	135	31	methods	method	NOUN
dem-8594	135	32	of	of	ADP
dem-8594	135	33	forecast	forecast	NOUN
dem-8594	135	34	derived	derive	VERB
dem-8594	135	35	from	from	ADP
dem-8594	135	36	models	model	NOUN
dem-8594	135	37	with	with	ADP
dem-8594	135	38	incorrect	incorrect	ADJ
dem-8594	135	39	specifications	specification	NOUN
dem-8594	135	40	)	)	PUNCT
dem-8594	135	41	,	,	PUNCT
dem-8594	135	42	this	this	DET
dem-8594	135	43	approach	approach	NOUN
dem-8594	135	44	has	have	AUX
dem-8594	135	45	become	become	VERB
dem-8594	135	46	the	the	DET
dem-8594	135	47	subject	subject	NOUN
dem-8594	135	48	of	of	ADP
dem-8594	135	49	further	further	ADJ
dem-8594	135	50	research	research	NOUN
dem-8594	135	51	.	.	PUNCT
dem-8594	136	1	combining	combine	VERB
dem-8594	136	2	forecasts	forecast	NOUN
dem-8594	136	3	for	for	ADP
dem-8594	136	4	the	the	DET
dem-8594	136	5	variation	variation	NOUN
dem-8594	136	6	is	be	AUX
dem-8594	136	7	subject	subject	ADJ
dem-8594	136	8	of	of	ADP
dem-8594	136	9	research	research	NOUN
dem-8594	136	10	of	of	ADP
dem-8594	136	11	doidge	doidge	NOUN
dem-8594	136	12	and	and	CCONJ
dem-8594	136	13	wei	wei	PROPN
dem-8594	136	14	(	(	PUNCT
dem-8594	136	15	1998	1998	NUM
dem-8594	136	16	)	)	PUNCT
dem-8594	136	17	,	,	PUNCT
dem-8594	136	18	armendola	armendola	PROPN
dem-8594	136	19	and	and	CCONJ
dem-8594	136	20	storti	storti	PROPN
dem-8594	136	21	(	(	PUNCT
dem-8594	136	22	2008	2008	NUM
dem-8594	136	23	)	)	PUNCT
dem-8594	136	24	,	,	PUNCT
dem-8594	136	25	donaldson	donaldson	PROPN
dem-8594	136	26	and	and	CCONJ
dem-8594	136	27	kamstra	kamstra	PROPN
dem-8594	136	28	(	(	PUNCT
dem-8594	136	29	2005	2005	NUM
dem-8594	136	30	)	)	PUNCT
dem-8594	136	31	.	.	PUNCT
dem-8594	137	1	there	there	PRON
dem-8594	137	2	are	be	VERB
dem-8594	137	3	very	very	ADV
dem-8594	137	4	few	few	ADJ
dem-8594	137	5	studies	study	NOUN
dem-8594	137	6	about	about	ADP
dem-8594	137	7	combining	combine	VERB
dem-8594	137	8	quantile	quantile	ADJ
dem-8594	137	9	forecasts	forecast	NOUN
dem-8594	137	10	.	.	PUNCT
dem-8594	138	1	granger	granger	NOUN
dem-8594	138	2	(	(	PUNCT
dem-8594	138	3	1989	1989	NUM
dem-8594	138	4	)	)	PUNCT
dem-8594	138	5	and	and	CCONJ
dem-8594	138	6	granger	granger	PROPN
dem-8594	138	7	et	et	PROPN
dem-8594	138	8	al	al	PROPN
dem-8594	138	9	.	.	PROPN
dem-8594	139	1	(	(	PUNCT
dem-8594	139	2	1989	1989	NUM
dem-8594	139	3	)	)	PUNCT
dem-8594	139	4	introduce	introduce	VERB
dem-8594	139	5	the	the	DET
dem-8594	139	6	idea	idea	NOUN
dem-8594	139	7	of	of	ADP
dem-8594	139	8	using	use	VERB
dem-8594	139	9	quantile	quantile	ADJ
dem-8594	139	10	regression	regression	NOUN
dem-8594	139	11	to	to	PART
dem-8594	139	12	combine	combine	VERB
dem-8594	139	13	quantile	quantile	ADJ
dem-8594	139	14	forecasts	forecast	NOUN
dem-8594	139	15	.	.	PUNCT
dem-8594	140	1	taylor	taylor	PROPN
dem-8594	140	2	and	and	CCONJ
dem-8594	140	3	bunn	bunn	PROPN
dem-8594	140	4	(	(	PUNCT
dem-8594	140	5	1998	1998	NUM
dem-8594	140	6	)	)	PUNCT
dem-8594	140	7	assess	assess	VERB
dem-8594	140	8	the	the	DET
dem-8594	140	9	usefulness	usefulness	NOUN
dem-8594	140	10	of	of	ADP
dem-8594	140	11	different	different	ADJ
dem-8594	140	12	restrictions	restriction	NOUN
dem-8594	140	13	on	on	ADP
dem-8594	140	14	the	the	DET
dem-8594	140	15	parameters	parameter	NOUN
dem-8594	140	16	of	of	ADP
dem-8594	140	17	the	the	DET
dem-8594	140	18	quantile	quantile	ADJ
dem-8594	140	19	regression	regression	NOUN
dem-8594	140	20	combination	combination	NOUN
dem-8594	140	21	.	.	PUNCT
dem-8594	141	1	giacomini	giacomini	PROPN
dem-8594	141	2	and	and	CCONJ
dem-8594	141	3	komunjer	komunjer	PROPN
dem-8594	141	4	(	(	PUNCT
dem-8594	141	5	2005	2005	NUM
dem-8594	141	6	)	)	PUNCT
dem-8594	141	7	describe	describe	VERB
dem-8594	141	8	how	how	SCONJ
dem-8594	141	9	encompassing	encompass	VERB
dem-8594	141	10	tests	test	NOUN
dem-8594	141	11	can	can	AUX
dem-8594	141	12	be	be	AUX
dem-8594	141	13	performed	perform	VERB
dem-8594	141	14	for	for	ADP
dem-8594	141	15	two	two	NUM
dem-8594	141	16	quantile	quantile	ADJ
dem-8594	141	17	predictors	predictor	NOUN
dem-8594	141	18	using	use	VERB
dem-8594	141	19	the	the	DET
dem-8594	141	20	quantile	quantile	ADJ
dem-8594	141	21	regression	regression	NOUN
dem-8594	141	22	combining	combine	VERB
dem-8594	141	23	framework	framework	NOUN
dem-8594	141	24	.	.	PUNCT
dem-8594	142	1	they	they	PRON
dem-8594	142	2	apply	apply	VERB
dem-8594	142	3	their	their	PRON
dem-8594	142	4	proposal	proposal	NOUN
dem-8594	142	5	to	to	PART
dem-8594	142	6	var	var	VERB
dem-8594	142	7	estimates	estimate	NOUN
dem-8594	142	8	of	of	ADP
dem-8594	142	9	the	the	DET
dem-8594	142	10	s&p500	s&p500	NOUN
dem-8594	142	11	based	base	VERB
dem-8594	142	12	on	on	ADP
dem-8594	142	13	two	two	NUM
dem-8594	142	14	time	time	NOUN
dem-8594	142	15	series	series	NOUN
dem-8594	142	16	volatility	volatility	NOUN
dem-8594	142	17	forecasting	forecasting	NOUN
dem-8594	142	18	methods	method	NOUN
dem-8594	142	19	.	.	PUNCT
dem-8594	143	1	jeon	jeon	PROPN
dem-8594	143	2	and	and	CCONJ
dem-8594	143	3	taylor	taylor	PROPN
dem-8594	143	4	(	(	PUNCT
dem-8594	143	5	2013	2013	NUM
dem-8594	143	6	)	)	PUNCT
dem-8594	143	7	in	in	ADP
dem-8594	143	8	their	their	PRON
dem-8594	143	9	research	research	NOUN
dem-8594	143	10	applied	apply	VERB
dem-8594	143	11	the	the	DET
dem-8594	143	12	following	follow	VERB
dem-8594	143	13	four	four	NUM
dem-8594	143	14	combined	combine	VERB
dem-8594	143	15	mehods	mehod	NOUN
dem-8594	143	16	:	:	PUNCT
dem-8594	143	17	simple	simple	ADJ
dem-8594	143	18	average	average	ADJ
dem-8594	143	19	combining	combine	VERB
dem-8594	143	20	(	(	PUNCT
dem-8594	143	21	simpavg	simpavg	NOUN
dem-8594	143	22	)	)	PUNCT
dem-8594	143	23	,	,	PUNCT
dem-8594	143	24	unrestricted	unrestricted	ADJ
dem-8594	143	25	linear	linear	ADJ
dem-8594	143	26	combination	combination	NOUN
dem-8594	143	27	(	(	PUNCT
dem-8594	143	28	linearcomb	linearcomb	PROPN
dem-8594	143	29	)	)	PUNCT
dem-8594	143	30	,	,	PUNCT
dem-8594	143	31	weighted	weight	VERB
dem-8594	143	32	averaged	average	VERB
dem-8594	143	33	combining	combine	VERB
dem-8594	143	34	(	(	PUNCT
dem-8594	143	35	wtdavg	wtdavg	PROPN
dem-8594	143	36	)	)	PUNCT
dem-8594	143	37	and	and	CCONJ
dem-8594	143	38	weighted	weight	VERB
dem-8594	143	39	averaged	average	VERB
dem-8594	143	40	combining	combine	VERB
dem-8594	143	41	optimized	optimize	VERB
dem-8594	143	42	using	use	VERB
dem-8594	143	43	exponential	exponential	ADJ
dem-8594	143	44	weighting	weighting	NOUN
dem-8594	143	45	(	(	PUNCT
dem-8594	143	46	wtdavgexp	wtdavgexp	PROPN
dem-8594	143	47	)	)	PUNCT
dem-8594	143	48	.	.	PUNCT
dem-8594	144	1	2	2	X
dem-8594	144	2	.	.	X
dem-8594	144	3	simple	simple	ADJ
dem-8594	144	4	average	average	ADJ
dem-8594	144	5	combining	combine	VERB
dem-8594	144	6	(	(	PUNCT
dem-8594	144	7	simpavg	simpavg	NOUN
dem-8594	144	8	)	)	PUNCT
dem-8594	144	9	the	the	DET
dem-8594	144	10	simplest	simple	ADJ
dem-8594	144	11	and	and	CCONJ
dem-8594	144	12	most	most	ADV
dem-8594	144	13	widely	widely	ADV
dem-8594	144	14	used	use	VERB
dem-8594	144	15	forecast	forecast	NOUN
dem-8594	144	16	combining	combine	VERB
dem-8594	144	17	method	method	NOUN
dem-8594	144	18	is	be	AUX
dem-8594	144	19	to	to	PART
dem-8594	144	20	take	take	VERB
dem-8594	144	21	the	the	DET
dem-8594	144	22	simple	simple	ADJ
dem-8594	144	23	arithmetic	arithmetic	ADJ
dem-8594	144	24	mean	mean	NOUN
dem-8594	144	25	of	of	ADP
dem-8594	144	26	the	the	DET
dem-8594	144	27	individual	individual	ADJ
dem-8594	144	28	forecasts	forecast	NOUN
dem-8594	144	29	.	.	PUNCT
dem-8594	145	1	we	we	PRON
dem-8594	145	2	consider	consider	VERB
dem-8594	145	3	the	the	DET
dem-8594	145	4	simple	simple	ADJ
dem-8594	145	5	average	average	NOUN
dem-8594	145	6	of	of	ADP
dem-8594	145	7	the	the	DET
dem-8594	145	8	quantile	quantile	ADJ
dem-8594	145	9	forecasts	forecast	NOUN
dem-8594	145	10	from	from	ADP
dem-8594	145	11	the	the	DET
dem-8594	145	12	iq	iq	NOUN
dem-8594	145	13	method	method	NOUN
dem-8594	145	14	and	and	CCONJ
dem-8594	145	15	one	one	NUM
dem-8594	145	16	caviar	caviar	NOUN
dem-8594	145	17	model	model	NOUN
dem-8594	145	18	,	,	PUNCT
dem-8594	145	19	as	as	ADP
dem-8594	145	20	in	in	ADP
dem-8594	145	21	expression	expression	NOUN
dem-8594	145	22	(	(	PUNCT
dem-8594	145	23	3–9	3–9	NUM
dem-8594	145	24	)	)	PUNCT
dem-8594	145	25	(	(	PUNCT
dem-8594	145	26	jeon	jeon	PROPN
dem-8594	145	27	and	and	CCONJ
dem-8594	145	28	taylor	taylor	PROPN
dem-8594	145	29	,	,	PUNCT
dem-8594	145	30	2013	2013	NUM
dem-8594	145	31	):	):	PUNCT
dem-8594	145	32	,	,	PUNCT
dem-8594	145	33	)	)	PUNCT
dem-8594	145	34	,	,	PUNCT
dem-8594	145	35	(	(	PUNCT
dem-8594	145	36	2	2	NUM
dem-8594	145	37	1	1	NUM
dem-8594	145	38	)	)	PUNCT
dem-8594	145	39	(	(	PUNCT
dem-8594	145	40	2	2	NUM
dem-8594	145	41	1	1	NUM
dem-8594	145	42	=)	=)	PROPN
dem-8594	145	43	(	(	PUNCT
dem-8594	145	44	)	)	PUNCT
dem-8594	145	45	(	(	PUNCT
dem-8594	145	46	)	)	PUNCT
dem-8594	145	47	(	(	PUNCT
dem-8594	145	48	βααα	βααα	PROPN
dem-8594	145	49	lcaviar	lcaviar	PROPN
dem-8594	145	50	t	t	PROPN
dem-8594	145	51	liq	liq	NOUN
dem-8594	145	52	t	t	PROPN
dem-8594	145	53	l	l	PROPN
dem-8594	145	54	t	t	NOUN
dem-8594	145	55	varqvar	varqvar	NOUN
dem-8594	145	56	+	+	CCONJ
dem-8594	145	57	(	(	PUNCT
dem-8594	145	58	22	22	NUM
dem-8594	145	59	)	)	PUNCT
dem-8594	145	60	.	.	PUNCT
dem-8594	145	61	)	)	PUNCT
dem-8594	146	1	,	,	PUNCT
dem-8594	146	2	(	(	PUNCT
dem-8594	146	3	2	2	NUM
dem-8594	146	4	1	1	NUM
dem-8594	146	5	)	)	PUNCT
dem-8594	146	6	(	(	PUNCT
dem-8594	146	7	2	2	NUM
dem-8594	146	8	1	1	NUM
dem-8594	146	9	=)	=)	PROPN
dem-8594	146	10	(	(	PUNCT
dem-8594	146	11	)	)	PUNCT
dem-8594	146	12	(	(	PUNCT
dem-8594	146	13	)	)	PUNCT
dem-8594	146	14	(	(	PUNCT
dem-8594	146	15	βααα	βααα	PROPN
dem-8594	146	16	scaviar	scaviar	PROPN
dem-8594	146	17	t	t	PROPN
dem-8594	146	18	siq	siq	PROPN
dem-8594	146	19	t	t	PROPN
dem-8594	146	20	s	s	PROPN
dem-8594	146	21	t	t	NOUN
dem-8594	146	22	varqvar	varqvar	NOUN
dem-8594	146	23	+	+	CCONJ
dem-8594	146	24	(	(	PUNCT
dem-8594	146	25	23	23	NUM
dem-8594	146	26	)	)	PUNCT
dem-8594	146	27	the	the	DET
dem-8594	146	28	method	method	NOUN
dem-8594	146	29	will	will	AUX
dem-8594	146	30	be	be	AUX
dem-8594	146	31	here	here	ADV
dem-8594	146	32	denoted	denote	VERB
dem-8594	146	33	as	as	ADP
dem-8594	146	34	simpavg	simpavg	NOUN
dem-8594	146	35	according	accord	VERB
dem-8594	146	36	to	to	ADP
dem-8594	146	37	jeon	jeon	PROPN
dem-8594	146	38	and	and	CCONJ
dem-8594	146	39	taylor	taylor	PROPN
dem-8594	146	40	(	(	PUNCT
dem-8594	146	41	2013	2013	NUM
dem-8594	146	42	)	)	PUNCT
dem-8594	146	43	nomenclature	nomenclature	NOUN
dem-8594	146	44	.	.	PUNCT
dem-8594	147	1	the	the	DET
dem-8594	147	2	aim	aim	NOUN
dem-8594	147	3	of	of	ADP
dem-8594	147	4	this	this	DET
dem-8594	147	5	approach	approach	NOUN
dem-8594	147	6	is	be	AUX
dem-8594	147	7	to	to	PART
dem-8594	147	8	determine	determine	VERB
dem-8594	147	9	the	the	DET
dem-8594	147	10	combination	combination	NOUN
dem-8594	147	11	of	of	ADP
dem-8594	147	12	forecasts	forecast	NOUN
dem-8594	147	13	with	with	ADP
dem-8594	147	14	lower	low	ADJ
dem-8594	147	15	error	error	NOUN
dem-8594	147	16	variance	variance	NOUN
dem-8594	147	17	than	than	ADP
dem-8594	147	18	in	in	ADP
dem-8594	147	19	case	case	NOUN
dem-8594	147	20	of	of	ADP
dem-8594	147	21	individual	individual	ADJ
dem-8594	147	22	forecasts	forecast	NOUN
dem-8594	147	23	.	.	PUNCT
dem-8594	148	1	ewa	ewa	PROPN
dem-8594	148	2	ratuszny	ratuszny	VERB
dem-8594	148	3	dynamic	dynamic	ADJ
dem-8594	148	4	econometric	econometric	ADJ
dem-8594	148	5	models	model	NOUN
dem-8594	148	6	15	15	NUM
dem-8594	148	7	(	(	PUNCT
dem-8594	148	8	2015	2015	NUM
dem-8594	148	9	)	)	PUNCT
dem-8594	148	10	129–156	129–156	NUM
dem-8594	148	11	138	138	NUM
dem-8594	148	12	3	3	NUM
dem-8594	148	13	.	.	PUNCT
dem-8594	148	14	unrestricted	unrestricted	ADJ
dem-8594	148	15	linear	linear	ADJ
dem-8594	148	16	combination	combination	NOUN
dem-8594	148	17	(	(	PUNCT
dem-8594	148	18	linearcomb	linearcomb	PROPN
dem-8594	148	19	)	)	PUNCT
dem-8594	148	20	a	a	DET
dem-8594	148	21	traditional	traditional	ADJ
dem-8594	148	22	approach	approach	NOUN
dem-8594	148	23	to	to	ADP
dem-8594	148	24	combining	combine	VERB
dem-8594	148	25	is	be	AUX
dem-8594	148	26	to	to	PART
dem-8594	148	27	compute	compute	VERB
dem-8594	148	28	linear	linear	NOUN
dem-8594	148	29	combinations	combination	NOUN
dem-8594	148	30	of	of	ADP
dem-8594	148	31	forecasts	forecast	NOUN
dem-8594	148	32	,	,	PUNCT
dem-8594	148	33	called	call	VERB
dem-8594	148	34	also	also	ADV
dem-8594	148	35	regression	regression	NOUN
dem-8594	148	36	method	method	NOUN
dem-8594	148	37	(	(	PUNCT
dem-8594	148	38	jeon	jeon	PROPN
dem-8594	148	39	and	and	CCONJ
dem-8594	148	40	taylor	taylor	PROPN
dem-8594	148	41	,	,	PUNCT
dem-8594	148	42	2013	2013	NUM
dem-8594	148	43	)	)	PUNCT
dem-8594	148	44	.	.	PUNCT
dem-8594	149	1	the	the	DET
dem-8594	149	2	method	method	NOUN
dem-8594	149	3	will	will	AUX
dem-8594	149	4	be	be	AUX
dem-8594	149	5	dnoted	dnote	VERB
dem-8594	149	6	as	as	ADP
dem-8594	149	7	linearcom	linearcom	NOUN
dem-8594	149	8	according	accord	VERB
dem-8594	149	9	to	to	ADP
dem-8594	149	10	jeon	jeon	PROPN
dem-8594	149	11	and	and	CCONJ
dem-8594	149	12	taylor	taylor	PROPN
dem-8594	149	13	(	(	PUNCT
dem-8594	149	14	2013	2013	NUM
dem-8594	149	15	)	)	PUNCT
dem-8594	149	16	nomenclature	nomenclature	NOUN
dem-8594	149	17	.	.	PUNCT
dem-8594	150	1	forecast	forecast	NOUN
dem-8594	150	2	is	be	AUX
dem-8594	150	3	formed	form	VERB
dem-8594	150	4	on	on	ADP
dem-8594	150	5	the	the	DET
dem-8594	150	6	basis	basis	NOUN
dem-8594	150	7	of	of	ADP
dem-8594	150	8	an	an	DET
dem-8594	150	9	iq	iq	NOUN
dem-8594	150	10	forecast	forecast	NOUN
dem-8594	150	11	and	and	CCONJ
dem-8594	150	12	one	one	NUM
dem-8594	150	13	of	of	ADP
dem-8594	150	14	caviar	caviar	NOUN
dem-8594	150	15	models	model	NOUN
dem-8594	150	16	(	(	PUNCT
dem-8594	150	17	jeon	jeon	PROPN
dem-8594	150	18	and	and	CCONJ
dem-8594	150	19	taylor	taylor	PROPN
dem-8594	150	20	,	,	PUNCT
dem-8594	150	21	2013	2013	NUM
dem-8594	150	22	):	):	PUNCT
dem-8594	150	23	,	,	PUNCT
dem-8594	150	24	)	)	PUNCT
dem-8594	150	25	,	,	PUNCT
dem-8594	150	26	(	(	PUNCT
dem-8594	150	27	)	)	PUNCT
dem-8594	150	28	(=	(=	X
dem-8594	150	29	)	)	PUNCT
dem-8594	150	30	(	(	PUNCT
dem-8594	150	31	)	)	PUNCT
dem-8594	150	32	(	(	PUNCT
dem-8594	150	33	3	3	X
dem-8594	150	34	)	)	PUNCT
dem-8594	150	35	(	(	PUNCT
dem-8594	150	36	21	21	NUM
dem-8594	150	37	βαγαγγα	βαγαγγα	PROPN
dem-8594	150	38	lcaviar	lcaviar	PROPN
dem-8594	150	39	t	t	PROPN
dem-8594	150	40	liq	liq	NOUN
dem-8594	150	41	t	t	PROPN
dem-8594	150	42	l	l	PROPN
dem-8594	150	43	t	t	NOUN
dem-8594	150	44	varqvar	varqvar	NOUN
dem-8594	151	1	+	+	NOUN
dem-8594	151	2	+	+	CCONJ
dem-8594	151	3	(	(	PUNCT
dem-8594	151	4	24	24	NUM
dem-8594	151	5	)	)	PUNCT
dem-8594	151	6	.),()(=	.),()(=	NUM
dem-8594	151	7	)	)	PUNCT
dem-8594	151	8	(	(	PUNCT
dem-8594	151	9	)	)	PUNCT
dem-8594	151	10	(	(	PUNCT
dem-8594	151	11	3	3	X
dem-8594	151	12	)	)	PUNCT
dem-8594	151	13	(	(	PUNCT
dem-8594	151	14	21	21	NUM
dem-8594	151	15	βαγαγγα	βαγαγγα	PROPN
dem-8594	151	16	scaviar	scaviar	PROPN
dem-8594	151	17	t	t	PROPN
dem-8594	151	18	siq	siq	PROPN
dem-8594	151	19	t	t	PROPN
dem-8594	151	20	s	s	PROPN
dem-8594	151	21	t	t	NOUN
dem-8594	151	22	varqvar	varqvar	NOUN
dem-8594	152	1	+	+	PROPN
dem-8594	152	2	+	+	CCONJ
dem-8594	152	3	(	(	PUNCT
dem-8594	152	4	25	25	NUM
dem-8594	152	5	)	)	PUNCT
dem-8594	152	6	the	the	DET
dem-8594	152	7	parameters	parameter	NOUN
dem-8594	152	8	2γ	2γ	NOUN
dem-8594	152	9	and	and	CCONJ
dem-8594	152	10	3γ	3γ	NUM
dem-8594	152	11	inform	inform	VERB
dem-8594	152	12	about	about	ADP
dem-8594	152	13	the	the	DET
dem-8594	152	14	dynamics	dynamic	NOUN
dem-8594	152	15	of	of	ADP
dem-8594	152	16	forecasted	forecast	VERB
dem-8594	152	17	variable	variable	NOUN
dem-8594	152	18	.	.	PUNCT
dem-8594	153	1	if	if	SCONJ
dem-8594	153	2	the	the	DET
dem-8594	153	3	sum	sum	NOUN
dem-8594	153	4	of	of	ADP
dem-8594	153	5	the	the	DET
dem-8594	153	6	parameters	parameter	NOUN
dem-8594	153	7	2γ	2γ	NOUN
dem-8594	153	8	and	and	CCONJ
dem-8594	153	9	3γ	3γ	NUM
dem-8594	153	10	is	be	AUX
dem-8594	153	11	less	less	ADJ
dem-8594	153	12	than	than	ADP
dem-8594	153	13	unity	unity	NOUN
dem-8594	153	14	,	,	PUNCT
dem-8594	153	15	the	the	DET
dem-8594	153	16	individual	individual	ADJ
dem-8594	153	17	predictions	prediction	NOUN
dem-8594	153	18	are	be	AUX
dem-8594	153	19	more	more	ADV
dem-8594	153	20	volatile	volatile	ADJ
dem-8594	153	21	than	than	ADP
dem-8594	153	22	the	the	DET
dem-8594	153	23	risk	risk	NOUN
dem-8594	153	24	measure	measure	NOUN
dem-8594	153	25	var	var	NOUN
dem-8594	153	26	.	.	PUNCT
dem-8594	154	1	if	if	SCONJ
dem-8594	154	2	the	the	DET
dem-8594	154	3	sum	sum	NOUN
dem-8594	154	4	of	of	ADP
dem-8594	154	5	the	the	DET
dem-8594	154	6	parameters	parameter	NOUN
dem-8594	154	7	is	be	AUX
dem-8594	154	8	greater	great	ADJ
dem-8594	154	9	than	than	ADP
dem-8594	154	10	one	one	NUM
dem-8594	154	11	,	,	PUNCT
dem-8594	154	12	then	then	ADV
dem-8594	154	13	the	the	DET
dem-8594	154	14	individual	individual	ADJ
dem-8594	154	15	forecasts	forecast	NOUN
dem-8594	154	16	are	be	AUX
dem-8594	154	17	of	of	ADP
dem-8594	154	18	less	less	ADV
dem-8594	154	19	dynamic	dynamic	ADJ
dem-8594	154	20	than	than	ADP
dem-8594	154	21	var	var	NOUN
dem-8594	154	22	.	.	PUNCT
dem-8594	155	1	there	there	PRON
dem-8594	155	2	are	be	VERB
dem-8594	155	3	several	several	ADJ
dem-8594	155	4	difficulties	difficulty	NOUN
dem-8594	155	5	with	with	ADP
dem-8594	155	6	the	the	DET
dem-8594	155	7	combination	combination	NOUN
dem-8594	155	8	method	method	NOUN
dem-8594	155	9	.	.	PUNCT
dem-8594	156	1	the	the	DET
dem-8594	156	2	first	first	ADJ
dem-8594	156	3	is	be	AUX
dem-8594	156	4	related	relate	VERB
dem-8594	156	5	to	to	ADP
dem-8594	156	6	collinearity	collinearity	NOUN
dem-8594	156	7	of	of	ADP
dem-8594	156	8	individual	individual	ADJ
dem-8594	156	9	forecasts	forecast	NOUN
dem-8594	156	10	.	.	PUNCT
dem-8594	157	1	if	if	SCONJ
dem-8594	157	2	the	the	DET
dem-8594	157	3	individual	individual	ADJ
dem-8594	157	4	predictions	prediction	NOUN
dem-8594	157	5	are	be	AUX
dem-8594	157	6	quite	quite	ADV
dem-8594	157	7	good	good	ADJ
dem-8594	157	8	,	,	PUNCT
dem-8594	157	9	they	they	PRON
dem-8594	157	10	would	would	AUX
dem-8594	157	11	not	not	PART
dem-8594	157	12	differ	differ	VERB
dem-8594	157	13	significantly	significantly	ADV
dem-8594	157	14	and	and	CCONJ
dem-8594	157	15	this	this	PRON
dem-8594	157	16	entails	entail	VERB
dem-8594	157	17	the	the	DET
dem-8594	157	18	phenomenon	phenomenon	NOUN
dem-8594	157	19	of	of	ADP
dem-8594	157	20	collinearity	collinearity	NOUN
dem-8594	157	21	.	.	PUNCT
dem-8594	158	1	consequently	consequently	ADV
dem-8594	158	2	,	,	PUNCT
dem-8594	158	3	the	the	DET
dem-8594	158	4	low	low	ADJ
dem-8594	158	5	-	-	PUNCT
dem-8594	158	6	significance	significance	NOUN
dem-8594	158	7	and	and	CCONJ
dem-8594	158	8	high	high	ADJ
dem-8594	158	9	randomness	randomness	NOUN
dem-8594	158	10	of	of	ADP
dem-8594	158	11	estimated	estimate	VERB
dem-8594	158	12	weights	weight	NOUN
dem-8594	158	13	are	be	AUX
dem-8594	158	14	obtained	obtain	VERB
dem-8594	158	15	.	.	PUNCT
dem-8594	159	1	another	another	DET
dem-8594	159	2	issue	issue	NOUN
dem-8594	159	3	is	be	AUX
dem-8594	159	4	the	the	DET
dem-8594	159	5	autocorrelation	autocorrelation	NOUN
dem-8594	159	6	of	of	ADP
dem-8594	159	7	the	the	DET
dem-8594	159	8	random	random	ADJ
dem-8594	159	9	component	component	NOUN
dem-8594	159	10	,	,	PUNCT
dem-8594	159	11	caused	cause	VERB
dem-8594	159	12	by	by	ADP
dem-8594	159	13	autocorrelation	autocorrelation	NOUN
dem-8594	159	14	of	of	ADP
dem-8594	159	15	dependent	dependent	ADJ
dem-8594	159	16	variable	variable	NOUN
dem-8594	159	17	.	.	PUNCT
dem-8594	160	1	in	in	ADP
dem-8594	160	2	order	order	NOUN
dem-8594	160	3	to	to	PART
dem-8594	160	4	solve	solve	VERB
dem-8594	160	5	this	this	DET
dem-8594	160	6	problem	problem	NOUN
dem-8594	160	7	diebold	diebold	VERB
dem-8594	160	8	(	(	PUNCT
dem-8594	160	9	1988	1988	NUM
dem-8594	160	10	)	)	PUNCT
dem-8594	160	11	proposed	propose	VERB
dem-8594	160	12	to	to	PART
dem-8594	160	13	estimate	estimate	VERB
dem-8594	160	14	the	the	DET
dem-8594	160	15	arch	arch	ADJ
dem-8594	160	16	model	model	NOUN
dem-8594	160	17	.	.	PUNCT
dem-8594	161	1	the	the	DET
dem-8594	161	2	third	third	ADJ
dem-8594	161	3	issue	issue	NOUN
dem-8594	161	4	is	be	AUX
dem-8594	161	5	related	relate	VERB
dem-8594	161	6	with	with	ADP
dem-8594	161	7	the	the	DET
dem-8594	161	8	inability	inability	NOUN
dem-8594	161	9	to	to	PART
dem-8594	161	10	impose	impose	VERB
dem-8594	161	11	zero	zero	NUM
dem-8594	161	12	restrictions	restriction	NOUN
dem-8594	161	13	for	for	ADP
dem-8594	161	14	correlation	correlation	NOUN
dem-8594	161	15	between	between	ADP
dem-8594	161	16	the	the	DET
dem-8594	161	17	errors	error	NOUN
dem-8594	161	18	of	of	ADP
dem-8594	161	19	individual	individual	ADJ
dem-8594	161	20	forecasts	forecast	NOUN
dem-8594	161	21	,	,	PUNCT
dem-8594	161	22	when	when	SCONJ
dem-8594	161	23	examining	examine	VERB
dem-8594	161	24	the	the	DET
dem-8594	161	25	behavior	behavior	NOUN
dem-8594	161	26	of	of	ADP
dem-8594	161	27	individual	individual	ADJ
dem-8594	161	28	forecasts	forecast	NOUN
dem-8594	161	29	in	in	ADP
dem-8594	161	30	the	the	DET
dem-8594	161	31	past	past	NOUN
dem-8594	161	32	.	.	PUNCT
dem-8594	162	1	in	in	ADP
dem-8594	162	2	addition	addition	NOUN
dem-8594	162	3	,	,	PUNCT
dem-8594	162	4	regression	regression	NOUN
dem-8594	162	5	method	method	NOUN
dem-8594	162	6	requires	require	VERB
dem-8594	162	7	a	a	DET
dem-8594	162	8	large	large	ADJ
dem-8594	162	9	data	data	NOUN
dem-8594	162	10	sets	set	NOUN
dem-8594	162	11	,	,	PUNCT
dem-8594	162	12	which	which	PRON
dem-8594	162	13	in	in	ADP
dem-8594	162	14	case	case	NOUN
dem-8594	162	15	of	of	ADP
dem-8594	162	16	time	time	NOUN
dem-8594	162	17	series	series	NOUN
dem-8594	162	18	is	be	AUX
dem-8594	162	19	fullfilled	fullfille	VERB
dem-8594	162	20	.	.	PUNCT
dem-8594	163	1	the	the	DET
dem-8594	163	2	advantage	advantage	NOUN
dem-8594	163	3	of	of	ADP
dem-8594	163	4	this	this	DET
dem-8594	163	5	method	method	NOUN
dem-8594	163	6	is	be	AUX
dem-8594	163	7	the	the	DET
dem-8594	163	8	lack	lack	NOUN
dem-8594	163	9	of	of	ADP
dem-8594	163	10	restrictions	restriction	NOUN
dem-8594	163	11	on	on	ADP
dem-8594	163	12	the	the	DET
dem-8594	163	13	parameters	parameter	NOUN
dem-8594	163	14	and	and	CCONJ
dem-8594	163	15	lack	lack	NOUN
dem-8594	163	16	of	of	ADP
dem-8594	163	17	assumptions	assumption	NOUN
dem-8594	163	18	about	about	ADP
dem-8594	163	19	unbiasedness	unbiasedness	NOUN
dem-8594	163	20	of	of	ADP
dem-8594	163	21	individual	individual	ADJ
dem-8594	163	22	forecasts	forecast	NOUN
dem-8594	163	23	.	.	PUNCT
dem-8594	164	1	4	4	X
dem-8594	164	2	.	.	NUM
dem-8594	164	3	weighted	weight	VERB
dem-8594	164	4	averaged	average	VERB
dem-8594	164	5	combining	combine	VERB
dem-8594	164	6	(	(	PUNCT
dem-8594	164	7	wtdavg	wtdavg	PROPN
dem-8594	164	8	)	)	PUNCT
dem-8594	164	9	the	the	DET
dem-8594	164	10	weighted	weight	VERB
dem-8594	164	11	averaged	average	VERB
dem-8594	164	12	combining	combine	VERB
dem-8594	164	13	method	method	NOUN
dem-8594	164	14	is	be	AUX
dem-8594	164	15	based	base	VERB
dem-8594	164	16	on	on	ADP
dem-8594	164	17	the	the	DET
dem-8594	164	18	relation	relation	NOUN
dem-8594	164	19	between	between	ADP
dem-8594	164	20	forecast	forecast	NOUN
dem-8594	164	21	error	error	NOUN
dem-8594	164	22	in	in	ADP
dem-8594	164	23	the	the	DET
dem-8594	164	24	past	past	NOUN
dem-8594	164	25	.	.	PUNCT
dem-8594	165	1	in	in	ADP
dem-8594	165	2	this	this	DET
dem-8594	165	3	approach	approach	NOUN
dem-8594	165	4	the	the	DET
dem-8594	165	5	unbiasedness	unbiasedness	NOUN
dem-8594	165	6	of	of	ADP
dem-8594	165	7	quantile	quantile	ADJ
dem-8594	165	8	forecast	forecast	NOUN
dem-8594	165	9	is	be	AUX
dem-8594	165	10	assumed	assume	VERB
dem-8594	165	11	(	(	PUNCT
dem-8594	165	12	granger	granger	NOUN
dem-8594	165	13	(	(	PUNCT
dem-8594	165	14	1989	1989	NUM
dem-8594	165	15	)	)	PUNCT
dem-8594	165	16	)	)	PUNCT
dem-8594	165	17	.	.	PUNCT
dem-8594	166	1	error	error	NOUN
dem-8594	166	2	variance	variance	NOUN
dem-8594	166	3	of	of	ADP
dem-8594	166	4	combined	combine	VERB
dem-8594	166	5	forecast	forecast	NOUN
dem-8594	166	6	will	will	AUX
dem-8594	166	7	be	be	AUX
dem-8594	166	8	equal	equal	ADJ
dem-8594	166	9	or	or	CCONJ
dem-8594	166	10	smaller	small	ADJ
dem-8594	166	11	than	than	ADP
dem-8594	166	12	of	of	ADP
dem-8594	166	13	the	the	DET
dem-8594	166	14	individual	individual	ADJ
dem-8594	166	15	forecasts	forecast	NOUN
dem-8594	166	16	.	.	PUNCT
dem-8594	167	1	the	the	DET
dem-8594	167	2	method	method	NOUN
dem-8594	167	3	in	in	ADP
dem-8594	167	4	our	our	PRON
dem-8594	167	5	research	research	NOUN
dem-8594	167	6	will	will	AUX
dem-8594	167	7	be	be	AUX
dem-8594	167	8	noted	note	VERB
dem-8594	167	9	as	as	ADP
dem-8594	167	10	wtdavg	wtdavg	PROPN
dem-8594	167	11	according	accord	VERB
dem-8594	167	12	to	to	ADP
dem-8594	167	13	jeon	jeon	PROPN
dem-8594	167	14	and	and	CCONJ
dem-8594	167	15	taylor	taylor	PROPN
dem-8594	167	16	(	(	PUNCT
dem-8594	167	17	2013	2013	NUM
dem-8594	167	18	)	)	PUNCT
dem-8594	167	19	nomenclature	nomenclature	NOUN
dem-8594	167	20	.	.	PUNCT
dem-8594	168	1	the	the	DET
dem-8594	168	2	resultant	resultant	PROPN
dem-8594	168	3	quantile	quantile	NOUN
dem-8594	168	4	forecast	forecast	NOUN
dem-8594	168	5	is	be	AUX
dem-8594	168	6	of	of	ADP
dem-8594	168	7	the	the	DET
dem-8594	168	8	form	form	NOUN
dem-8594	168	9	(	(	PUNCT
dem-8594	168	10	26–27	26–27	NUM
dem-8594	168	11	)	)	PUNCT
dem-8594	168	12	,	,	PUNCT
dem-8594	168	13	without	without	ADP
dem-8594	168	14	risk	risk	NOUN
dem-8594	168	15	modeling	modeling	NOUN
dem-8594	168	16	of	of	ADP
dem-8594	168	17	commodities	commodity	NOUN
dem-8594	168	18	using	use	VERB
dem-8594	168	19	caviar	caviar	NOUN
dem-8594	168	20	models	model	NOUN
dem-8594	168	21	…	…	PUNCT
dem-8594	168	22	dynamic	dynamic	ADJ
dem-8594	168	23	econometric	econometric	ADJ
dem-8594	168	24	models	model	NOUN
dem-8594	168	25	15	15	NUM
dem-8594	168	26	(	(	PUNCT
dem-8594	168	27	2015	2015	NUM
dem-8594	168	28	)	)	PUNCT
dem-8594	168	29	129–156	129–156	NUM
dem-8594	168	30	139	139	NUM
dem-8594	168	31	constant	constant	ADJ
dem-8594	168	32	,	,	PUNCT
dem-8594	168	33	where	where	SCONJ
dem-8594	168	34	combining	combine	VERB
dem-8594	168	35	weights	weight	NOUN
dem-8594	168	36	are	be	AUX
dem-8594	168	37	constrained	constrain	VERB
dem-8594	168	38	to	to	PART
dem-8594	168	39	be	be	AUX
dem-8594	168	40	between	between	ADP
dem-8594	168	41	zero	zero	NUM
dem-8594	168	42	and	and	CCONJ
dem-8594	168	43	one	one	NUM
dem-8594	168	44	.	.	PUNCT
dem-8594	169	1	,	,	PUNCT
dem-8594	169	2	)	)	PUNCT
dem-8594	169	3	,	,	PUNCT
dem-8594	169	4	(	(	PUNCT
dem-8594	169	5	)	)	PUNCT
dem-8594	169	6	(	(	PUNCT
dem-8594	169	7	1)(=	1)(=	NUM
dem-8594	169	8	)	)	PUNCT
dem-8594	169	9	,	,	PUNCT
dem-8594	169	10	(	(	PUNCT
dem-8594	169	11	)	)	PUNCT
dem-8594	169	12	(	(	PUNCT
dem-8594	169	13	)	)	PUNCT
dem-8594	169	14	(	(	PUNCT
dem-8594	169	15	βαωαωωα	βαωαωωα	PROPN
dem-8594	169	16	lcaviar	lcaviar	PROPN
dem-8594	169	17	t	t	PROPN
dem-8594	169	18	liq	liq	NOUN
dem-8594	169	19	t	t	PROPN
dem-8594	169	20	l	l	PROPN
dem-8594	169	21	t	t	PROPN
dem-8594	169	22	varqvar	varqvar	PROPN
dem-8594	169	23	−+	−+	PROPN
dem-8594	169	24	(	(	PUNCT
dem-8594	169	25	26	26	NUM
dem-8594	169	26	)	)	PUNCT
dem-8594	169	27	.),()(1)(=	.),()(1)(=	NUM
dem-8594	169	28	)	)	PUNCT
dem-8594	169	29	,	,	PUNCT
dem-8594	169	30	(	(	PUNCT
dem-8594	169	31	)	)	PUNCT
dem-8594	169	32	(	(	PUNCT
dem-8594	169	33	)	)	PUNCT
dem-8594	169	34	(	(	PUNCT
dem-8594	169	35	βαωαωωα	βαωαωωα	PROPN
dem-8594	169	36	scaviar	scaviar	PROPN
dem-8594	169	37	t	t	PROPN
dem-8594	169	38	siq	siq	PROPN
dem-8594	169	39	t	t	PROPN
dem-8594	169	40	s	s	PROPN
dem-8594	169	41	t	t	NOUN
dem-8594	169	42	varqvar	varqvar	PROPN
dem-8594	169	43	−+	−+	PROPN
dem-8594	169	44	(	(	PUNCT
dem-8594	170	1	27	27	NUM
dem-8594	170	2	)	)	PUNCT
dem-8594	170	3	clemen	cleman	NOUN
dem-8594	170	4	(	(	PUNCT
dem-8594	170	5	1986	1986	NUM
dem-8594	170	6	)	)	PUNCT
dem-8594	170	7	advocates	advocate	VERB
dem-8594	170	8	the	the	DET
dem-8594	170	9	use	use	NOUN
dem-8594	170	10	of	of	ADP
dem-8594	170	11	the	the	DET
dem-8594	170	12	weighted	weight	VERB
dem-8594	170	13	average	average	NOUN
dem-8594	170	14	even	even	ADV
dem-8594	170	15	if	if	SCONJ
dem-8594	170	16	the	the	DET
dem-8594	170	17	forecasts	forecast	NOUN
dem-8594	170	18	are	be	AUX
dem-8594	170	19	biased	bias	VERB
dem-8594	170	20	,	,	PUNCT
dem-8594	170	21	arguing	argue	VERB
dem-8594	170	22	that	that	SCONJ
dem-8594	170	23	gains	gain	NOUN
dem-8594	170	24	in	in	ADP
dem-8594	170	25	efficiency	efficiency	NOUN
dem-8594	170	26	can	can	AUX
dem-8594	170	27	be	be	AUX
dem-8594	170	28	made	make	VERB
dem-8594	170	29	at	at	ADP
dem-8594	170	30	the	the	DET
dem-8594	170	31	cost	cost	NOUN
dem-8594	170	32	of	of	ADP
dem-8594	170	33	some	some	DET
dem-8594	170	34	bias	bias	NOUN
dem-8594	170	35	.	.	PUNCT
dem-8594	171	1	bunn	bunn	PROPN
dem-8594	171	2	(	(	PUNCT
dem-8594	171	3	1989	1989	NUM
dem-8594	171	4	)	)	PUNCT
dem-8594	171	5	noted	note	VERB
dem-8594	171	6	greater	great	ADJ
dem-8594	171	7	robustness	robustness	NOUN
dem-8594	171	8	of	of	ADP
dem-8594	171	9	the	the	DET
dem-8594	171	10	method	method	NOUN
dem-8594	171	11	compared	compare	VERB
dem-8594	171	12	with	with	ADP
dem-8594	171	13	regression	regression	NOUN
dem-8594	171	14	method	method	NOUN
dem-8594	171	15	.	.	PUNCT
dem-8594	172	1	taylor	taylor	PROPN
dem-8594	172	2	and	and	CCONJ
dem-8594	172	3	bunn	bunn	PROPN
dem-8594	172	4	(	(	PUNCT
dem-8594	172	5	1998	1998	NUM
dem-8594	172	6	)	)	PUNCT
dem-8594	172	7	pointed	point	VERB
dem-8594	172	8	out	out	ADP
dem-8594	172	9	that	that	SCONJ
dem-8594	172	10	the	the	DET
dem-8594	172	11	value	value	NOUN
dem-8594	172	12	of	of	ADP
dem-8594	172	13	the	the	DET
dem-8594	172	14	weight	weight	NOUN
dem-8594	172	15	indicates	indicate	VERB
dem-8594	172	16	the	the	DET
dem-8594	172	17	relative	relative	ADJ
dem-8594	172	18	explanatory	explanatory	ADJ
dem-8594	172	19	powers	power	NOUN
dem-8594	172	20	of	of	ADP
dem-8594	172	21	the	the	DET
dem-8594	172	22	two	two	NUM
dem-8594	172	23	quantile	quantile	ADJ
dem-8594	172	24	predictors	predictor	NOUN
dem-8594	172	25	.	.	PUNCT
dem-8594	173	1	5	5	X
dem-8594	173	2	.	.	NUM
dem-8594	173	3	weighted	weighted	AUX
dem-8594	173	4	averaged	average	VERB
dem-8594	173	5	combining	combine	VERB
dem-8594	173	6	optimized	optimize	VERB
dem-8594	173	7	using	use	VERB
dem-8594	173	8	exponential	exponential	ADJ
dem-8594	173	9	weighting	weighting	NOUN
dem-8594	173	10	(	(	PUNCT
dem-8594	173	11	wtdavgexp	wtdavgexp	PROPN
dem-8594	173	12	)	)	PUNCT
dem-8594	173	13	.	.	PUNCT
dem-8594	174	1	the	the	DET
dem-8594	174	2	method	method	NOUN
dem-8594	174	3	is	be	AUX
dem-8594	174	4	similar	similar	ADJ
dem-8594	174	5	to	to	ADP
dem-8594	174	6	weighted	weight	VERB
dem-8594	174	7	averaged	average	VERB
dem-8594	174	8	combining	combine	VERB
dem-8594	174	9	but	but	CCONJ
dem-8594	174	10	additionally	additionally	ADV
dem-8594	174	11	the	the	DET
dem-8594	174	12	exponential	exponential	ADJ
dem-8594	174	13	weighting	weighting	NOUN
dem-8594	174	14	factor	factor	NOUN
dem-8594	174	15	for	for	ADP
dem-8594	174	16	the	the	DET
dem-8594	174	17	optimisation	optimisation	NOUN
dem-8594	174	18	of	of	ADP
dem-8594	174	19	the	the	DET
dem-8594	174	20	combining	combine	VERB
dem-8594	174	21	weight	weight	NOUN
dem-8594	174	22	is	be	AUX
dem-8594	174	23	applied	apply	VERB
dem-8594	174	24	.	.	PUNCT
dem-8594	175	1	the	the	DET
dem-8594	175	2	factor	factor	NOUN
dem-8594	175	3	gives	give	VERB
dem-8594	175	4	greater	great	ADJ
dem-8594	175	5	weight	weight	NOUN
dem-8594	175	6	to	to	ADP
dem-8594	175	7	the	the	DET
dem-8594	175	8	more	more	ADV
dem-8594	175	9	recent	recent	ADJ
dem-8594	175	10	observations	observation	NOUN
dem-8594	175	11	in	in	ADP
dem-8594	175	12	the	the	DET
dem-8594	175	13	quantile	quantile	ADJ
dem-8594	175	14	regression	regression	NOUN
dem-8594	175	15	optimisation	optimisation	NOUN
dem-8594	175	16	(	(	PUNCT
dem-8594	175	17	taylor	taylor	PROPN
dem-8594	175	18	(	(	PUNCT
dem-8594	175	19	2008	2008	NUM
dem-8594	175	20	)	)	PUNCT
dem-8594	175	21	)	)	PUNCT
dem-8594	175	22	.	.	PUNCT
dem-8594	176	1	in	in	ADP
dem-8594	176	2	this	this	DET
dem-8594	176	3	way	way	NOUN
dem-8594	176	4	the	the	DET
dem-8594	176	5	nonstationarity	nonstationarity	NOUN
dem-8594	176	6	problem	problem	NOUN
dem-8594	176	7	of	of	ADP
dem-8594	176	8	weights	weight	NOUN
dem-8594	176	9	is	be	AUX
dem-8594	176	10	solved	solve	VERB
dem-8594	176	11	.	.	PUNCT
dem-8594	177	1	this	this	PRON
dem-8594	177	2	is	be	AUX
dem-8594	177	3	particularly	particularly	ADV
dem-8594	177	4	important	important	ADJ
dem-8594	177	5	when	when	SCONJ
dem-8594	177	6	the	the	DET
dem-8594	177	7	time	time	NOUN
dem-8594	177	8	series	series	PROPN
dem-8594	177	9	exhibits	exhibit	VERB
dem-8594	177	10	time	time	NOUN
dem-8594	177	11	-	-	PUNCT
dem-8594	177	12	varing	vare	VERB
dem-8594	177	13	and	and	CCONJ
dem-8594	177	14	cyclical	cyclical	ADJ
dem-8594	177	15	volatility	volatility	NOUN
dem-8594	177	16	.	.	PUNCT
dem-8594	178	1	boudoukh	boudoukh	PROPN
dem-8594	178	2	et	et	PROPN
dem-8594	178	3	al	al	PROPN
dem-8594	178	4	.	.	PUNCT
dem-8594	179	1	(	(	PUNCT
dem-8594	179	2	1998	1998	NUM
dem-8594	179	3	)	)	PUNCT
dem-8594	179	4	insist	insist	VERB
dem-8594	179	5	that	that	SCONJ
dem-8594	179	6	such	such	DET
dem-8594	179	7	an	an	DET
dem-8594	179	8	approach	approach	NOUN
dem-8594	179	9	is	be	AUX
dem-8594	179	10	a	a	DET
dem-8594	179	11	reasonable	reasonable	ADJ
dem-8594	179	12	compromise	compromise	NOUN
dem-8594	179	13	between	between	ADP
dem-8594	179	14	statistical	statistical	ADJ
dem-8594	179	15	precision	precision	NOUN
dem-8594	179	16	and	and	CCONJ
dem-8594	179	17	adaptation	adaptation	NOUN
dem-8594	179	18	to	to	ADP
dem-8594	179	19	the	the	DET
dem-8594	179	20	latest	late	ADJ
dem-8594	179	21	information	information	NOUN
dem-8594	179	22	.	.	PUNCT
dem-8594	180	1	exponentially	exponentially	ADV
dem-8594	180	2	weighted	weight	VERB
dem-8594	180	3	quantile	quantile	ADJ
dem-8594	180	4	regression	regression	NOUN
dem-8594	180	5	(	(	PUNCT
dem-8594	180	6	ewqr	ewqr	NOUN
dem-8594	180	7	)	)	PUNCT
dem-8594	180	8	method	method	NOUN
dem-8594	180	9	solves	solve	VERB
dem-8594	180	10	the	the	DET
dem-8594	180	11	following	follow	VERB
dem-8594	180	12	minimizing	minimize	VERB
dem-8594	180	13	problem	problem	NOUN
dem-8594	180	14	(	(	PUNCT
dem-8594	180	15	jeon	jeon	PROPN
dem-8594	180	16	,	,	PUNCT
dem-8594	180	17	taylor	taylor	PROPN
dem-8594	180	18	,	,	PUNCT
dem-8594	180	19	2013	2013	NUM
dem-8594	180	20	):	):	PUNCT
dem-8594	180	21			NOUN
dem-8594	180	22			NOUN
dem-8594	180	23			PUNCT
dem-8594	181	1			PROPN
dem-8594	182	1	−−+	−−+	PROPN
dem-8594	182	2			PROPN
dem-8594	182	3			NOUN
dem-8594	182	4			NOUN
dem-8594	182	5			VERB
dem-8594	182	6	+	+	ADJ
dem-8594	182	7	−	−	PROPN
dem-8594	182	8	−	−	NUM
dem-8594	182	9	−	−	NOUN
dem-8594	183	1	−	−	NOUN
dem-8594	183	2	−≤	−≤	NUM
dem-8594	183	3	∑	∑	PROPN
dem-8594	183	4	∑	∑	PUNCT
dem-8594	183	5	)	)	PUNCT
dem-8594	183	6	,	,	PUNCT
dem-8594	183	7	(	(	PUNCT
dem-8594	183	8	)	)	PUNCT
dem-8594	183	9	(	(	PUNCT
dem-8594	183	10	1	1	NUM
dem-8594	183	11	)	)	PUNCT
dem-8594	183	12	,	,	PUNCT
dem-8594	183	13	(	(	PUNCT
dem-8594	183	14	min	min	NOUN
dem-8594	183	15	)	)	PUNCT
dem-8594	183	16	,	,	PUNCT
dem-8594	183	17	(	(	PUNCT
dem-8594	183	18	>	>	X
dem-8594	183	19	|	|	NOUN
dem-8594	183	20	)	)	PUNCT
dem-8594	183	21	,	,	PUNCT
dem-8594	183	22	(	(	PUNCT
dem-8594	183	23	|	|	ADV
dem-8594	183	24	ωααλ	ωααλ	VERB
dem-8594	183	25	ωααλ	ωααλ	NOUN
dem-8594	183	26	ωα	ωα	X
dem-8594	183	27	ωαω	ωαω	PROPN
dem-8594	183	28	l	l	NOUN
dem-8594	183	29	tt	tt	PROPN
dem-8594	184	1	tt	tt	PROPN
dem-8594	184	2	l	l	PROPN
dem-8594	184	3	tvartyt	tvartyt	PROPN
dem-8594	184	4	l	l	X
dem-8594	184	5	tt	tt	PROPN
dem-8594	184	6	tt	tt	PROPN
dem-8594	184	7	l	l	PROPN
dem-8594	184	8	tvartyt	tvartyt	PROPN
dem-8594	184	9	vary	vary	ADJ
dem-8594	184	10	vary	vary	NOUN
dem-8594	184	11	(	(	PUNCT
dem-8594	184	12	28	28	NUM
dem-8594	184	13	)	)	PUNCT
dem-8594	184	14			NOUN
dem-8594	184	15			NOUN
dem-8594	184	16			PUNCT
dem-8594	185	1			PROPN
dem-8594	186	1	−−+	−−+	PROPN
dem-8594	186	2			PROPN
dem-8594	186	3			NOUN
dem-8594	186	4			NOUN
dem-8594	186	5			VERB
dem-8594	186	6	+	+	ADP
dem-8594	186	7	−	−	PROPN
dem-8594	186	8	−	−	PROPN
dem-8594	186	9	−	−	PROPN
dem-8594	186	10	≥	≥	NOUN
dem-8594	186	11	∑	∑	PROPN
dem-8594	186	12	∑	∑	PUNCT
dem-8594	186	13	)	)	PUNCT
dem-8594	186	14	,	,	PUNCT
dem-8594	186	15	(	(	PUNCT
dem-8594	186	16	)	)	PUNCT
dem-8594	186	17	(	(	PUNCT
dem-8594	186	18	1	1	NUM
dem-8594	186	19	)	)	PUNCT
dem-8594	186	20	,	,	PUNCT
dem-8594	186	21	(	(	PUNCT
dem-8594	186	22	min	min	NOUN
dem-8594	186	23	)	)	PUNCT
dem-8594	186	24	,	,	PUNCT
dem-8594	186	25	(	(	PUNCT
dem-8594	186	26	<	<	X
dem-8594	186	27	|	|	NOUN
dem-8594	186	28	)	)	PUNCT
dem-8594	186	29	,	,	PUNCT
dem-8594	186	30	(	(	PUNCT
dem-8594	186	31	|	|	ADV
dem-8594	186	32	ωααλ	ωααλ	VERB
dem-8594	186	33	ωααλ	ωααλ	NOUN
dem-8594	186	34	ωα	ωα	X
dem-8594	186	35	ωαω	ωαω	PROPN
dem-8594	186	36	s	s	PROPN
dem-8594	186	37	tt	tt	PROPN
dem-8594	186	38	tt	tt	PROPN
dem-8594	186	39	s	s	PROPN
dem-8594	186	40	tvartyt	tvartyt	PROPN
dem-8594	186	41	s	s	PART
dem-8594	186	42	tt	tt	PROPN
dem-8594	187	1	tt	tt	X
dem-8594	187	2	s	s	PART
dem-8594	187	3	tvartyt	tvartyt	ADJ
dem-8594	187	4	vary	vary	ADJ
dem-8594	187	5	vary	vary	NOUN
dem-8594	187	6	(	(	PUNCT
dem-8594	187	7	29	29	NUM
dem-8594	187	8	)	)	PUNCT
dem-8594	187	9	ewa	ewa	PROPN
dem-8594	187	10	ratuszny	ratuszny	VERB
dem-8594	187	11	dynamic	dynamic	ADJ
dem-8594	187	12	econometric	econometric	ADJ
dem-8594	187	13	models	model	NOUN
dem-8594	187	14	15	15	NUM
dem-8594	187	15	(	(	PUNCT
dem-8594	187	16	2015	2015	NUM
dem-8594	187	17	)	)	PUNCT
dem-8594	187	18	129–156	129–156	NUM
dem-8594	187	19	140	140	NUM
dem-8594	187	20	where	where	SCONJ
dem-8594	187	21	)	)	PUNCT
dem-8594	187	22	(	(	PUNCT
dem-8594	187	23	αl	αl	ADP
dem-8594	187	24	tvar	tvar	NOUN
dem-8594	187	25	and	and	CCONJ
dem-8594	187	26	)	)	PUNCT
dem-8594	187	27	(	(	PUNCT
dem-8594	187	28	αs	αs	PRON
dem-8594	187	29	tvar	tvar	NOUN
dem-8594	187	30	are	be	AUX
dem-8594	187	31	expressed	express	VERB
dem-8594	187	32	in	in	ADP
dem-8594	187	33	equations	equation	NOUN
dem-8594	187	34	(	(	PUNCT
dem-8594	187	35	26)–(27	26)–(27	NUM
dem-8594	187	36	)	)	PUNCT
dem-8594	187	37	.	.	PUNCT
dem-8594	188	1	a	a	DET
dem-8594	188	2	lower	low	ADJ
dem-8594	188	3	value	value	NOUN
dem-8594	188	4	of	of	ADP
dem-8594	188	5	the	the	DET
dem-8594	188	6	decay	decay	NOUN
dem-8594	188	7	parameterλ	parameterλ	NOUN
dem-8594	188	8	implies	imply	VERB
dem-8594	188	9	faster	fast	ADJ
dem-8594	188	10	exponential	exponential	ADJ
dem-8594	188	11	decay	decay	NOUN
dem-8594	188	12	,	,	PUNCT
dem-8594	188	13	and	and	CCONJ
dem-8594	188	14	hence	hence	ADV
dem-8594	188	15	more	more	ADJ
dem-8594	188	16	weight	weight	NOUN
dem-8594	188	17	is	be	AUX
dem-8594	188	18	given	give	VERB
dem-8594	188	19	to	to	ADP
dem-8594	188	20	the	the	DET
dem-8594	188	21	recent	recent	ADJ
dem-8594	188	22	observations	observation	NOUN
dem-8594	188	23	and	and	CCONJ
dem-8594	188	24	less	less	ADV
dem-8594	188	25	historical	historical	ADJ
dem-8594	188	26	information	information	NOUN
dem-8594	188	27	is	be	AUX
dem-8594	188	28	captured	capture	VERB
dem-8594	188	29	.	.	PUNCT
dem-8594	189	1	this	this	DET
dem-8594	189	2	method	method	NOUN
dem-8594	189	3	is	be	AUX
dem-8594	189	4	noted	note	VERB
dem-8594	189	5	as	as	ADP
dem-8594	189	6	wtdavgexp	wtdavgexp	NOUN
dem-8594	189	7	according	accord	VERB
dem-8594	189	8	to	to	ADP
dem-8594	189	9	jeon	jeon	PROPN
dem-8594	189	10	and	and	CCONJ
dem-8594	189	11	taylor	taylor	PROPN
dem-8594	189	12	(	(	PUNCT
dem-8594	189	13	2013	2013	NUM
dem-8594	189	14	)	)	PUNCT
dem-8594	189	15	.	.	PUNCT
dem-8594	190	1	5.1	5.1	NUM
dem-8594	190	2	.	.	PUNCT
dem-8594	190	3	out	out	ADP
dem-8594	190	4	-	-	PUNCT
dem-8594	190	5	of	of	ADP
dem-8594	190	6	-	-	PUNCT
dem-8594	190	7	sample	sample	NOUN
dem-8594	190	8	diagnostics	diagnostic	NOUN
dem-8594	190	9	regulators	regulator	NOUN
dem-8594	190	10	can	can	AUX
dem-8594	190	11	apply	apply	VERB
dem-8594	190	12	backtest	backt	ADJ
dem-8594	190	13	for	for	ADP
dem-8594	190	14	evaluating	evaluate	VERB
dem-8594	190	15	the	the	DET
dem-8594	190	16	accuracy	accuracy	NOUN
dem-8594	190	17	of	of	ADP
dem-8594	190	18	the	the	DET
dem-8594	190	19	var	var	NOUN
dem-8594	190	20	models	model	NOUN
dem-8594	190	21	,	,	PUNCT
dem-8594	190	22	but	but	CCONJ
dem-8594	190	23	this	this	DET
dem-8594	190	24	method	method	NOUN
dem-8594	190	25	misclassifies	misclassifie	VERB
dem-8594	190	26	forecasts	forecast	NOUN
dem-8594	190	27	from	from	ADP
dem-8594	190	28	inaccurate	inaccurate	ADJ
dem-8594	190	29	models	model	NOUN
dem-8594	190	30	as	as	ADP
dem-8594	190	31	acceptably	acceptably	ADV
dem-8594	190	32	accurate	accurate	ADJ
dem-8594	190	33	.	.	PUNCT
dem-8594	191	1	in	in	ADP
dem-8594	191	2	our	our	PRON
dem-8594	191	3	research	research	NOUN
dem-8594	191	4	the	the	DET
dem-8594	191	5	out	out	ADV
dem-8594	191	6	-	-	PUNCT
dem-8594	191	7	of	of	ADP
dem-8594	191	8	-	-	PUNCT
dem-8594	191	9	sample	sample	NOUN
dem-8594	191	10	diagnostic	diagnostic	NOUN
dem-8594	191	11	of	of	ADP
dem-8594	191	12	var	var	NOUN
dem-8594	191	13	is	be	AUX
dem-8594	191	14	performed	perform	VERB
dem-8594	191	15	on	on	ADP
dem-8594	191	16	the	the	DET
dem-8594	191	17	basis	basis	NOUN
dem-8594	191	18	tests	test	NOUN
dem-8594	191	19	and	and	CCONJ
dem-8594	191	20	measures	measure	NOUN
dem-8594	191	21	,	,	PUNCT
dem-8594	191	22	i.e.	i.e.	X
dem-8594	191	23	backtests	backtest	NOUN
dem-8594	191	24	,	,	PUNCT
dem-8594	191	25	tests	test	NOUN
dem-8594	191	26	based	base	VERB
dem-8594	191	27	on	on	ADP
dem-8594	191	28	bernoulli	bernoulli	PROPN
dem-8594	191	29	trials	trial	NOUN
dem-8594	191	30	model	model	PROPN
dem-8594	191	31	,	,	PUNCT
dem-8594	191	32	the	the	DET
dem-8594	191	33	dynamic	dynamic	ADJ
dem-8594	191	34	quantile	quantile	ADJ
dem-8594	191	35	test	test	NOUN
dem-8594	191	36	,	,	PUNCT
dem-8594	191	37	regulatory	regulatory	ADJ
dem-8594	191	38	loss	loss	NOUN
dem-8594	191	39	,	,	PUNCT
dem-8594	191	40	binary	binary	ADJ
dem-8594	191	41	loss	loss	NOUN
dem-8594	191	42	,	,	PUNCT
dem-8594	191	43	firm	firm	NOUN
dem-8594	191	44	’s	’s	PART
dem-8594	191	45	loss	loss	NOUN
dem-8594	191	46	.	.	PUNCT
dem-8594	192	1	the	the	DET
dem-8594	192	2	lr	lr	PROPN
dem-8594	192	3	test	test	NOUN
dem-8594	192	4	of	of	ADP
dem-8594	192	5	unconditional	unconditional	ADJ
dem-8594	192	6	coverage	coverage	NOUN
dem-8594	192	7	(	(	PUNCT
dem-8594	192	8	kupiec	kupiec	NOUN
dem-8594	192	9	test	test	NOUN
dem-8594	192	10	)	)	PUNCT
dem-8594	192	11	evaluates	evaluate	VERB
dem-8594	192	12	the	the	DET
dem-8594	192	13	model	model	NOUN
dem-8594	192	14	,	,	PUNCT
dem-8594	192	15	taking	take	VERB
dem-8594	192	16	into	into	ADP
dem-8594	192	17	account	account	NOUN
dem-8594	192	18	both	both	CCONJ
dem-8594	192	19	too	too	ADV
dem-8594	192	20	much	much	ADJ
dem-8594	192	21	and	and	CCONJ
dem-8594	192	22	too	too	ADV
dem-8594	192	23	few	few	ADJ
dem-8594	192	24	exceedances	exceedance	NOUN
dem-8594	192	25	.	.	PUNCT
dem-8594	193	1	its	its	PRON
dem-8594	193	2	disadvantage	disadvantage	NOUN
dem-8594	193	3	,	,	PUNCT
dem-8594	193	4	however	however	ADV
dem-8594	193	5	,	,	PUNCT
dem-8594	193	6	is	be	AUX
dem-8594	193	7	that	that	SCONJ
dem-8594	193	8	it	it	PRON
dem-8594	193	9	does	do	AUX
dem-8594	193	10	not	not	PART
dem-8594	193	11	take	take	VERB
dem-8594	193	12	into	into	ADP
dem-8594	193	13	account	account	NOUN
dem-8594	193	14	the	the	DET
dem-8594	193	15	distribution	distribution	NOUN
dem-8594	193	16	of	of	ADP
dem-8594	193	17	exceedances	exceedance	NOUN
dem-8594	193	18	in	in	ADP
dem-8594	193	19	the	the	DET
dem-8594	193	20	sample	sample	NOUN
dem-8594	193	21	.	.	PUNCT
dem-8594	194	1	a	a	DET
dem-8594	194	2	well	well	ADV
dem-8594	194	3	-	-	PUNCT
dem-8594	194	4	functioning	function	VERB
dem-8594	194	5	var	var	NOUN
dem-8594	194	6	model	model	NOUN
dem-8594	194	7	should	should	AUX
dem-8594	194	8	be	be	AUX
dem-8594	194	9	characterized	characterize	VERB
dem-8594	194	10	by	by	ADP
dem-8594	194	11	the	the	DET
dem-8594	194	12	absence	absence	NOUN
dem-8594	194	13	of	of	ADP
dem-8594	194	14	autocorrelation	autocorrelation	NOUN
dem-8594	194	15	in	in	ADP
dem-8594	194	16	the	the	DET
dem-8594	194	17	indicator	indicator	NOUN
dem-8594	194	18	function	function	NOUN
dem-8594	194	19	what	what	PRON
dem-8594	194	20	can	can	AUX
dem-8594	194	21	be	be	AUX
dem-8594	194	22	done	do	VERB
dem-8594	194	23	by	by	ADP
dem-8594	194	24	performing	perform	VERB
dem-8594	194	25	the	the	DET
dem-8594	194	26	dynamic	dynamic	ADJ
dem-8594	194	27	quantile	quantile	ADJ
dem-8594	194	28	test	test	NOUN
dem-8594	194	29	.	.	PUNCT
dem-8594	195	1	the	the	DET
dem-8594	195	2	model	model	NOUN
dem-8594	195	3	is	be	AUX
dem-8594	195	4	considered	consider	VERB
dem-8594	195	5	adequate	adequate	ADJ
dem-8594	195	6	if	if	SCONJ
dem-8594	195	7	the	the	DET
dem-8594	195	8	number	number	NOUN
dem-8594	195	9	of	of	ADP
dem-8594	195	10	exceedances	exceedance	NOUN
dem-8594	195	11	corresponds	correspond	VERB
dem-8594	195	12	to	to	ADP
dem-8594	195	13	the	the	DET
dem-8594	195	14	assumptions	assumption	NOUN
dem-8594	195	15	and	and	CCONJ
dem-8594	195	16	there	there	PRON
dem-8594	195	17	is	be	VERB
dem-8594	195	18	no	no	DET
dem-8594	195	19	autocorrelation	autocorrelation	NOUN
dem-8594	195	20	.	.	PUNCT
dem-8594	196	1	in	in	ADP
dem-8594	196	2	case	case	NOUN
dem-8594	196	3	of	of	ADP
dem-8594	196	4	no	no	DET
dem-8594	196	5	exceedances	exceedance	NOUN
dem-8594	196	6	we	we	PRON
dem-8594	196	7	consider	consider	VERB
dem-8594	196	8	that	that	SCONJ
dem-8594	196	9	the	the	DET
dem-8594	196	10	model	model	NOUN
dem-8594	196	11	is	be	AUX
dem-8594	196	12	inadequate	inadequate	ADJ
dem-8594	196	13	,	,	PUNCT
dem-8594	196	14	because	because	SCONJ
dem-8594	196	15	of	of	ADP
dem-8594	196	16	overestimation	overestimation	NOUN
dem-8594	196	17	of	of	ADP
dem-8594	196	18	var	var	NOUN
dem-8594	196	19	.	.	PUNCT
dem-8594	197	1	recall	recall	VERB
dem-8594	197	2	the	the	DET
dem-8594	197	3	construction	construction	NOUN
dem-8594	197	4	and	and	CCONJ
dem-8594	197	5	interpretation	interpretation	NOUN
dem-8594	197	6	of	of	ADP
dem-8594	197	7	these	these	DET
dem-8594	197	8	tests	test	NOUN
dem-8594	197	9	/	/	SYM
dem-8594	197	10	measures	measure	NOUN
dem-8594	197	11	.	.	PUNCT
dem-8594	198	1	kupiec	kupiec	NOUN
dem-8594	198	2	(	(	PUNCT
dem-8594	198	3	1995	1995	NUM
dem-8594	198	4	)	)	PUNCT
dem-8594	198	5	,	,	PUNCT
dem-8594	198	6	christoffersen	christoffersen	VERB
dem-8594	198	7	(	(	PUNCT
dem-8594	198	8	1998	1998	NUM
dem-8594	198	9	)	)	PUNCT
dem-8594	198	10	,	,	PUNCT
dem-8594	198	11	rachev	rachev	VERB
dem-8594	198	12	and	and	CCONJ
dem-8594	198	13	mittnik	mittnik	NOUN
dem-8594	198	14	(	(	PUNCT
dem-8594	198	15	2002	2002	NUM
dem-8594	198	16	)	)	PUNCT
dem-8594	198	17	proposed	propose	VERB
dem-8594	198	18	the	the	DET
dem-8594	198	19	indicator	indicator	NOUN
dem-8594	198	20	variable	variable	NOUN
dem-8594	198	21	(	(	PUNCT
dem-8594	198	22	tξ	tξ	NOUN
dem-8594	198	23	)	)	PUNCT
dem-8594	198	24	for	for	ADP
dem-8594	198	25	time	time	NOUN
dem-8594	198	26	t	t	PROPN
dem-8594	198	27	,	,	PUNCT
dem-8594	198	28	made	make	VERB
dem-8594	198	29	at	at	ADP
dem-8594	198	30	time	time	NOUN
dem-8594	198	31	t–1	t–1	PROPN
dem-8594	198	32	,	,	PUNCT
dem-8594	198	33	which	which	PRON
dem-8594	198	34	is	be	AUX
dem-8594	198	35	defined	define	VERB
dem-8594	198	36	as	as	ADP
dem-8594	198	37	:	:	PUNCT
dem-8594	198	38	,	,	PUNCT
dem-8594	198	39	)	)	PUNCT
dem-8594	198	40	(	(	PUNCT
dem-8594	198	41	<	<	NOUN
dem-8594	198	42	1	1	NUM
dem-8594	198	43	)	)	PUNCT
dem-8594	198	44	(	(	PUNCT
dem-8594	198	45	0	0	NUM
dem-8594	198	46	=	=	SYM
dem-8594	198	47			NOUN
dem-8594	199	1			NOUN
dem-8594	199	2			NOUN
dem-8594	199	3	−	−	PROPN
dem-8594	200	1	−≥	−≥	INTJ
dem-8594	201	1	+	+	PROPN
dem-8594	201	2	+	+	CCONJ
dem-8594	201	3	α	α	PROPN
dem-8594	201	4	αξ	αξ	NOUN
dem-8594	201	5	l	l	NOUN
dem-8594	201	6	tnt	tnt	PROPN
dem-8594	201	7	l	l	PROPN
dem-8594	201	8	tntl	tntl	PROPN
dem-8594	201	9	t	t	PROPN
dem-8594	201	10	varyfi	varyfi	PROPN
dem-8594	201	11	varyfi	varyfi	PROPN
dem-8594	201	12	(	(	PUNCT
dem-8594	201	13	30	30	NUM
dem-8594	201	14	)	)	PUNCT
dem-8594	201	15	.	.	PUNCT
dem-8594	201	16	)	)	PUNCT
dem-8594	202	1	(	(	PUNCT
dem-8594	202	2	>	>	SYM
dem-8594	202	3	1	1	NUM
dem-8594	202	4	)	)	PUNCT
dem-8594	202	5	(	(	PUNCT
dem-8594	202	6	0	0	NUM
dem-8594	202	7	=	=	SYM
dem-8594	202	8			NOUN
dem-8594	202	9			PRON
dem-8594	202	10			PROPN
dem-8594	202	11	+	+	PROPN
dem-8594	203	1	+	+	CCONJ
dem-8594	203	2	α	α	X
dem-8594	203	3	αξ	αξ	NOUN
dem-8594	203	4	s	s	VERB
dem-8594	203	5	tnt	tnt	PROPN
dem-8594	203	6	s	s	PART
dem-8594	203	7	tnts	tnt	NOUN
dem-8594	203	8	t	t	PROPN
dem-8594	203	9	varyif	varyif	VERB
dem-8594	203	10	varyfi	varyfi	NOUN
dem-8594	203	11	(	(	PUNCT
dem-8594	203	12	31	31	NUM
dem-8594	203	13	)	)	PUNCT
dem-8594	203	14	on	on	ADP
dem-8594	203	15	basis	basis	NOUN
dem-8594	203	16	of	of	ADP
dem-8594	203	17	the	the	DET
dem-8594	203	18	variable	variable	NOUN
dem-8594	203	19	we	we	PRON
dem-8594	203	20	perform	perform	VERB
dem-8594	203	21	backtesting	backteste	VERB
dem-8594	203	22	.	.	PUNCT
dem-8594	204	1	in	in	ADP
dem-8594	204	2	the	the	DET
dem-8594	204	3	backtest	backt	ADJ
dem-8594	204	4	we	we	PRON
dem-8594	204	5	check	check	VERB
dem-8594	204	6	ex	ex	PRON
dem-8594	204	7	post	post	NOUN
dem-8594	204	8	if	if	SCONJ
dem-8594	204	9	observed	observe	VERB
dem-8594	204	10	loss	loss	NOUN
dem-8594	204	11	(	(	PUNCT
dem-8594	204	12	nty	nty	NOUN
dem-8594	204	13	+	+	CCONJ
dem-8594	204	14	)	)	PUNCT
dem-8594	204	15	breaches	breach	VERB
dem-8594	204	16	the	the	DET
dem-8594	204	17	forecast	forecast	NOUN
dem-8594	204	18	var	var	NOUN
dem-8594	204	19	at	at	ADP
dem-8594	204	20	the	the	DET
dem-8594	204	21	time	time	NOUN
dem-8594	204	22	t.	t.	PROPN
dem-8594	204	23	if	if	SCONJ
dem-8594	204	24	the	the	DET
dem-8594	204	25	var	var	NOUN
dem-8594	204	26	is	be	AUX
dem-8594	204	27	indicated	indicate	VERB
dem-8594	204	28	on	on	ADP
dem-8594	204	29	the	the	DET
dem-8594	204	30	significance	significance	NOUN
dem-8594	204	31	level	level	NOUN
dem-8594	204	32	of	of	ADP
dem-8594	204	33	α	α	NOUN
dem-8594	204	34	,	,	PUNCT
dem-8594	204	35	an	an	DET
dem-8594	204	36	appriopriate	appriopriate	ADJ
dem-8594	204	37	model	model	NOUN
dem-8594	204	38	should	should	AUX
dem-8594	204	39	also	also	ADV
dem-8594	204	40	indicate	indicate	VERB
dem-8594	204	41	fraction	fraction	NOUN
dem-8594	204	42	of	of	ADP
dem-8594	204	43	exceedances	exceedance	NOUN
dem-8594	204	44	of	of	ADP
dem-8594	204	45	the	the	DET
dem-8594	204	46	realised	realise	VERB
dem-8594	204	47	loss	loss	NOUN
dem-8594	204	48	at	at	ADP
dem-8594	204	49	the	the	DET
dem-8594	204	50	level	level	NOUN
dem-8594	204	51	of	of	ADP
dem-8594	204	52	α	α	NOUN
dem-8594	204	53	.	.	PUNCT
dem-8594	205	1	if	if	SCONJ
dem-8594	205	2	the	the	DET
dem-8594	205	3	fraction	fraction	NOUN
dem-8594	205	4	of	of	ADP
dem-8594	205	5	breaches	breach	NOUN
dem-8594	205	6	is	be	AUX
dem-8594	205	7	much	much	ADV
dem-8594	205	8	greater	great	ADJ
dem-8594	205	9	than	than	SCONJ
dem-8594	205	10	assumed	assume	VERB
dem-8594	205	11	,	,	PUNCT
dem-8594	205	12	it	it	PRON
dem-8594	205	13	means	mean	VERB
dem-8594	205	14	that	that	SCONJ
dem-8594	205	15	risk	risk	NOUN
dem-8594	205	16	modeling	modeling	NOUN
dem-8594	205	17	of	of	ADP
dem-8594	205	18	commodities	commodity	NOUN
dem-8594	205	19	using	use	VERB
dem-8594	205	20	caviar	caviar	NOUN
dem-8594	205	21	models	model	NOUN
dem-8594	205	22	…	…	PUNCT
dem-8594	205	23	dynamic	dynamic	ADJ
dem-8594	205	24	econometric	econometric	ADJ
dem-8594	205	25	models	model	NOUN
dem-8594	205	26	15	15	NUM
dem-8594	205	27	(	(	PUNCT
dem-8594	205	28	2015	2015	NUM
dem-8594	205	29	)	)	PUNCT
dem-8594	205	30	129–156	129–156	NUM
dem-8594	205	31	141	141	NUM
dem-8594	205	32	the	the	DET
dem-8594	205	33	model	model	NOUN
dem-8594	205	34	underestimates	underestimate	VERB
dem-8594	205	35	the	the	DET
dem-8594	205	36	size	size	NOUN
dem-8594	205	37	of	of	ADP
dem-8594	205	38	var	var	NOUN
dem-8594	205	39	.	.	PUNCT
dem-8594	206	1	lower	low	ADJ
dem-8594	206	2	number	number	NOUN
dem-8594	206	3	of	of	ADP
dem-8594	206	4	exceedances	exceedance	NOUN
dem-8594	206	5	means	mean	VERB
dem-8594	206	6	in	in	ADP
dem-8594	206	7	turn	turn	NOUN
dem-8594	206	8	that	that	SCONJ
dem-8594	206	9	the	the	DET
dem-8594	206	10	model	model	NOUN
dem-8594	206	11	overestimates	overestimate	VERB
dem-8594	206	12	the	the	DET
dem-8594	206	13	value	value	NOUN
dem-8594	206	14	at	at	ADP
dem-8594	206	15	risk	risk	NOUN
dem-8594	206	16	(	(	PUNCT
dem-8594	206	17	doman	doman	PROPN
dem-8594	206	18	,	,	PUNCT
dem-8594	206	19	doman	doman	NOUN
dem-8594	206	20	,	,	PUNCT
dem-8594	206	21	2009	2009	NUM
dem-8594	206	22	)	)	PUNCT
dem-8594	206	23	.	.	PUNCT
dem-8594	207	1	kupiec	kupiec	NOUN
dem-8594	207	2	(	(	PUNCT
dem-8594	207	3	1995	1995	NUM
dem-8594	207	4	)	)	PUNCT
dem-8594	207	5	proposes	propose	VERB
dem-8594	207	6	to	to	PART
dem-8594	207	7	treat	treat	VERB
dem-8594	207	8	tttttpoz	tttttpoz	NOUN
dem-8594	207	9	t	t	PROPN
dem-8594	207	10	′++	′++	PROPN
dem-8594	207	11	,	,	PUNCT
dem-8594	207	12	1,,=	1,,=	NUM
dem-8594	207	13	:	:	PUNCT
dem-8594	207	14	kξ	kξ	INTJ
dem-8594	207	15	,	,	PUNCT
dem-8594	207	16	wherepoz	wherepoz	PROPN
dem-8594	207	17	denotes	denotes	PROPN
dem-8594	207	18	instrument	instrument	NOUN
dem-8594	207	19	position	position	NOUN
dem-8594	207	20	,	,	PUNCT
dem-8594	207	21	i.e.	i.e.	X
dem-8594	207	22	l	l	X
dem-8594	207	23	–	–	PUNCT
dem-8594	207	24	long	long	ADJ
dem-8594	207	25	ors	or	NOUN
dem-8594	207	26	–	–	PUNCT
dem-8594	207	27	short	short	ADJ
dem-8594	207	28	,	,	PUNCT
dem-8594	207	29	as	as	ADP
dem-8594	207	30	sequence	sequence	NOUN
dem-8594	207	31	of	of	ADP
dem-8594	207	32	bernoulli	bernoulli	NOUN
dem-8594	207	33	trials	trial	NOUN
dem-8594	207	34	of	of	ADP
dem-8594	207	35	independent	independent	ADJ
dem-8594	207	36	variables	variable	NOUN
dem-8594	207	37	with	with	ADP
dem-8594	207	38	the	the	DET
dem-8594	207	39	same	same	ADJ
dem-8594	207	40	probability	probability	NOUN
dem-8594	207	41	of	of	ADP
dem-8594	207	42	success	success	NOUN
dem-8594	207	43	:	:	PUNCT
dem-8594	207	44	,	,	PUNCT
dem-8594	207	45	)	)	PUNCT
dem-8594	207	46	(	(	PUNCT
dem-8594	207	47	<	<	X
dem-8594	207	48	1	1	NUM
dem-8594	207	49	1)(0	1)(0	NUM
dem-8594	207	50	=	=	SYM
dem-8594	207	51			NOUN
dem-8594	207	52			PRON
dem-8594	207	53			PROPN
dem-8594	207	54	−	−	NOUN
dem-8594	207	55	−−≥	−−≥	ADJ
dem-8594	207	56	+	+	CCONJ
dem-8594	207	57	+	+	CCONJ
dem-8594	207	58	αα	αα	PROPN
dem-8594	207	59	ααξ	ααξ	PROPN
dem-8594	207	60	ithwvaryif	ithwvaryif	NOUN
dem-8594	207	61	ithwvaryfi	ithwvaryfi	PROPN
dem-8594	207	62	l	l	PROPN
dem-8594	207	63	tnt	tnt	PROPN
dem-8594	207	64	l	l	PROPN
dem-8594	207	65	tntl	tntl	PROPN
dem-8594	207	66	t	t	PROPN
dem-8594	207	67	(	(	PUNCT
dem-8594	207	68	30	30	NUM
dem-8594	207	69	)	)	PUNCT
dem-8594	207	70	.	.	PUNCT
dem-8594	207	71	)	)	PUNCT
dem-8594	208	1	(	(	PUNCT
dem-8594	208	2	>	>	SYM
dem-8594	208	3	1	1	NUM
dem-8594	208	4	1	1	NUM
dem-8594	208	5	)	)	PUNCT
dem-8594	208	6	(	(	PUNCT
dem-8594	208	7	0	0	NUM
dem-8594	208	8	=	=	SYM
dem-8594	208	9			NOUN
dem-8594	208	10			VERB
dem-8594	208	11			NOUN
dem-8594	208	12	−	−	PROPN
dem-8594	209	1	+	+	CCONJ
dem-8594	209	2	+	+	CCONJ
dem-8594	209	3	αα	αα	NOUN
dem-8594	209	4	ααξ	ααξ	NOUN
dem-8594	209	5	.ithwvaryif	.ithwvaryif	ADP
dem-8594	209	6	ithwvaryif	ithwvaryif	PROPN
dem-8594	209	7	s	s	PROPN
dem-8594	209	8	tnt	tnt	PROPN
dem-8594	209	9	s	s	PART
dem-8594	209	10	tnts	tnt	NOUN
dem-8594	209	11	t	t	PROPN
dem-8594	209	12	(	(	PUNCT
dem-8594	209	13	31	31	NUM
dem-8594	209	14	)	)	PUNCT
dem-8594	209	15	the	the	DET
dem-8594	209	16	null	null	ADJ
dem-8594	209	17	hipotesis	hipotesis	NOUN
dem-8594	209	18	of	of	ADP
dem-8594	209	19	kupiec	kupiec	NOUN
dem-8594	209	20	test	test	NOUN
dem-8594	209	21	is	be	AUX
dem-8594	209	22	:	:	PUNCT
dem-8594	209	23	αα	αα	NOUN
dem-8594	209	24	=	=	PRON
dem-8594	209	25	:	:	PUNCT
dem-8594	209	26	0h	0h	X
dem-8594	209	27	.	.	PUNCT
dem-8594	210	1	the	the	DET
dem-8594	210	2	likelihood	likelihood	PROPN
dem-8594	210	3	ratio	ratio	NOUN
dem-8594	210	4	test	test	NOUN
dem-8594	210	5	statistic	statistic	PROPN
dem-8594	210	6	uclr	uclr	NOUN
dem-8594	210	7	(	(	PUNCT
dem-8594	210	8	ang	ang	INTJ
dem-8594	210	9	.	.	PUNCT
dem-8594	211	1	the	the	DET
dem-8594	211	2	lr	lr	PROPN
dem-8594	211	3	test	test	NOUN
dem-8594	211	4	of	of	ADP
dem-8594	211	5	unconditional	unconditional	ADJ
dem-8594	211	6	coverage	coverage	NOUN
dem-8594	211	7	)	)	PUNCT
dem-8594	211	8	is	be	AUX
dem-8594	211	9	given	give	VERB
dem-8594	211	10	by	by	ADP
dem-8594	211	11	an	an	DET
dem-8594	211	12	equation	equation	NOUN
dem-8594	211	13	(	(	PUNCT
dem-8594	211	14	pipień	pipień	NOUN
dem-8594	211	15	,	,	PUNCT
dem-8594	211	16	2006	2006	NUM
dem-8594	211	17	)	)	PUNCT
dem-8594	211	18	:	:	PUNCT
dem-8594	211	19	(	(	PUNCT
dem-8594	211	20	)	)	PUNCT
dem-8594	211	21	{	{	PUNCT
dem-8594	211	22	}	}	PUNCT
dem-8594	211	23	(	(	PUNCT
dem-8594	211	24	)	)	PUNCT
dem-8594	211	25	{	{	PUNCT
dem-8594	211	26	}	}	PUNCT
dem-8594	211	27	[	[	PUNCT
dem-8594	211	28	]	]	X
dem-8594	211	29	,	,	PUNCT
dem-8594	211	30	1lnˆ1ln2=	1lnˆ1ln2=	PROPN
dem-8594	211	31	11	11	NUM
dem-8594	211	32	sstsst	sstsst	NOUN
dem-8594	211	33	uclr	uclr	NOUN
dem-8594	211	34	αααα	αααα	PROPN
dem-8594	211	35	−+′−−′	−+′−−′	X
dem-8594	211	36	−−−	−−−	X
dem-8594	211	37	(	(	PUNCT
dem-8594	211	38	32	32	NUM
dem-8594	211	39	)	)	PUNCT
dem-8594	211	40	where	where	SCONJ
dem-8594	211	41	poz	poz	PROPN
dem-8594	211	42	t	t	X
dem-8594	211	43	tt	tt	X
dem-8594	211	44	tt	tt	PROPN
dem-8594	211	45	s	s	PROPN
dem-8594	211	46	ξ∑	ξ∑	NOUN
dem-8594	211	47	′+	′+	PUNCT
dem-8594	211	48	=	=	SYM
dem-8594	212	1	=	=	PRON
dem-8594	212	2	means	mean	VERB
dem-8594	212	3	the	the	DET
dem-8594	212	4	total	total	ADJ
dem-8594	212	5	number	number	NOUN
dem-8594	212	6	of	of	ADP
dem-8594	212	7	exceedances	exceedance	NOUN
dem-8594	212	8	and	and	CCONJ
dem-8594	212	9	poz	poz	PROPN
dem-8594	212	10	t	t	PROPN
dem-8594	212	11	tt	tt	X
dem-8594	212	12	ttt	ttt	PROPN
dem-8594	212	13	ξα	ξα	VERB
dem-8594	212	14	∑	∑	PUNCT
dem-8594	212	15	′+	′+	PUNCT
dem-8594	212	16	+	+	NOUN
dem-8594	212	17	′	′	NUM
dem-8594	212	18	=	=	SYM
dem-8594	212	19	1	1	NUM
dem-8594	212	20	1	1	NUM
dem-8594	212	21	=	=	NOUN
dem-8594	212	22	ˆ	ˆ	NOUN
dem-8594	212	23	is	be	AUX
dem-8594	212	24	the	the	DET
dem-8594	212	25	assessment	assessment	NOUN
dem-8594	212	26	of	of	ADP
dem-8594	212	27	the	the	DET
dem-8594	212	28	likelihood	likelihood	NOUN
dem-8594	212	29	of	of	ADP
dem-8594	212	30	success	success	NOUN
dem-8594	212	31	.	.	PUNCT
dem-8594	213	1	with	with	ADP
dem-8594	213	2	a	a	DET
dem-8594	213	3	true	true	ADJ
dem-8594	213	4	null	null	ADJ
dem-8594	213	5	hypothesis	hypothesis	NOUN
dem-8594	213	6	,	,	PUNCT
dem-8594	213	7	test	test	NOUN
dem-8594	213	8	statistic	statistic	NOUN
dem-8594	213	9	has	have	VERB
dem-8594	213	10	asymptotic	asymptotic	ADJ
dem-8594	213	11	distribution	distribution	NOUN
dem-8594	213	12	2	2	NUM
dem-8594	213	13	1χ	1χ	NUM
dem-8594	213	14	.	.	PUNCT
dem-8594	214	1	the	the	DET
dem-8594	214	2	null	null	ADJ
dem-8594	214	3	hypothesis	hypothesis	NOUN
dem-8594	214	4	is	be	AUX
dem-8594	214	5	rejected	reject	VERB
dem-8594	214	6	if	if	SCONJ
dem-8594	214	7	the	the	DET
dem-8594	214	8	statistical	statistical	ADJ
dem-8594	214	9	value	value	NOUN
dem-8594	214	10	is	be	AUX
dem-8594	214	11	above	above	ADP
dem-8594	214	12	a	a	DET
dem-8594	214	13	critical	critical	ADJ
dem-8594	214	14	value	value	NOUN
dem-8594	214	15	,	,	PUNCT
dem-8594	214	16	i.e.	i.e.	X
dem-8594	214	17	84.3	84.3	NUM
dem-8594	214	18	>	>	PUNCT
dem-8594	214	19	uclr	uclr	NOUN
dem-8594	214	20	.	.	PUNCT
dem-8594	215	1	christoffersen	christoffersen	NOUN
dem-8594	215	2	(	(	PUNCT
dem-8594	215	3	1998	1998	NUM
dem-8594	215	4	)	)	PUNCT
dem-8594	215	5	combines	combine	VERB
dem-8594	215	6	the	the	DET
dem-8594	215	7	above	above	ADJ
dem-8594	215	8	tests	test	NOUN
dem-8594	215	9	for	for	ADP
dem-8594	215	10	unconditional	unconditional	ADJ
dem-8594	215	11	coverage	coverage	NOUN
dem-8594	215	12	and	and	CCONJ
dem-8594	215	13	independence	independence	NOUN
dem-8594	215	14	.	.	PUNCT
dem-8594	216	1	in	in	ADP
dem-8594	216	2	effect	effect	NOUN
dem-8594	216	3	,	,	PUNCT
dem-8594	216	4	the	the	DET
dem-8594	216	5	null	null	ADJ
dem-8594	216	6	hypothesis	hypothesis	NOUN
dem-8594	216	7	of	of	ADP
dem-8594	216	8	the	the	DET
dem-8594	216	9	unconditional	unconditional	ADJ
dem-8594	216	10	coverage	coverage	NOUN
dem-8594	216	11	test	test	NOUN
dem-8594	216	12	will	will	AUX
dem-8594	216	13	be	be	AUX
dem-8594	216	14	tested	test	VERB
dem-8594	216	15	against	against	ADP
dem-8594	216	16	the	the	DET
dem-8594	216	17	alternative	alternative	NOUN
dem-8594	216	18	of	of	ADP
dem-8594	216	19	the	the	DET
dem-8594	216	20	independence	independence	NOUN
dem-8594	216	21	test	test	NOUN
dem-8594	216	22	.	.	PUNCT
dem-8594	217	1	the	the	DET
dem-8594	217	2	statistics	statistic	NOUN
dem-8594	217	3	of	of	ADP
dem-8594	217	4	the	the	DET
dem-8594	217	5	joint	joint	ADJ
dem-8594	217	6	test	test	NOUN
dem-8594	217	7	of	of	ADP
dem-8594	217	8	coverage	coverage	NOUN
dem-8594	217	9	and	and	CCONJ
dem-8594	217	10	independence	independence	NOUN
dem-8594	217	11	is	be	AUX
dem-8594	217	12	expressed	express	VERB
dem-8594	217	13	by	by	ADP
dem-8594	217	14	the	the	DET
dem-8594	217	15	following	follow	VERB
dem-8594	217	16	equation	equation	NOUN
dem-8594	217	17	(	(	PUNCT
dem-8594	217	18	christoffersen	christoffersen	PROPN
dem-8594	217	19	,	,	PUNCT
dem-8594	217	20	1998	1998	NUM
dem-8594	217	21	):	):	PUNCT
dem-8594	217	22	.=	.=	VERB
dem-8594	217	23	induccc	induccc	PROPN
dem-8594	217	24	lrlrlr	lrlrlr	NOUN
dem-8594	217	25	+	+	CCONJ
dem-8594	217	26	(	(	PUNCT
dem-8594	217	27	33	33	NUM
dem-8594	217	28	)	)	PUNCT
dem-8594	218	1	where	where	SCONJ
dem-8594	218	2	:	:	PUNCT
dem-8594	218	3	(	(	PUNCT
dem-8594	218	4	)	)	PUNCT
dem-8594	218	5	(	(	PUNCT
dem-8594	218	6	)	)	PUNCT
dem-8594	218	7	{	{	PUNCT
dem-8594	218	8	}	}	PUNCT
dem-8594	218	9	[	[	PUNCT
dem-8594	218	10	−−−	−−−	NUM
dem-8594	218	11	11	11	NUM
dem-8594	218	12	11	11	NUM
dem-8594	218	13	10	10	NUM
dem-8594	218	14	11	11	NUM
dem-8594	218	15	01	01	NUM
dem-8594	218	16	01	01	NUM
dem-8594	218	17	00	00	NUM
dem-8594	218	18	01	01	NUM
dem-8594	218	19	ˆˆ1ˆˆ1ln2=	ˆˆ1ˆˆ1ln2=	PROPN
dem-8594	218	20	tttt	tttt	PROPN
dem-8594	218	21	indlr	indlr	PROPN
dem-8594	218	22	ππππ	ππππ	PROPN
dem-8594	218	23	(	(	PUNCT
dem-8594	218	24	)	)	PUNCT
dem-8594	218	25	(	(	PUNCT
dem-8594	218	26	)	)	PUNCT
dem-8594	218	27	(	(	PUNCT
dem-8594	218	28	)	)	PUNCT
dem-8594	218	29	{	{	PUNCT
dem-8594	218	30	}	}	PUNCT
dem-8594	218	31	]	]	X
dem-8594	218	32	.ˆˆ1ln	.ˆˆ1ln	SYM
dem-8594	218	33	1101	1101	NUM
dem-8594	218	34	2	2	NUM
dem-8594	218	35	1000	1000	NUM
dem-8594	218	36	2	2	NUM
dem-8594	218	37	tttt	tttt	NOUN
dem-8594	218	38	+	+	NOUN
dem-8594	218	39	+	+	ADJ
dem-8594	218	40	−−	−−	ADJ
dem-8594	218	41	ππ	ππ	X
dem-8594	218	42	(	(	PUNCT
dem-8594	218	43	34	34	NUM
dem-8594	218	44	)	)	PUNCT
dem-8594	218	45	ewa	ewa	PROPN
dem-8594	218	46	ratuszny	ratuszny	VERB
dem-8594	218	47	dynamic	dynamic	ADJ
dem-8594	218	48	econometric	econometric	ADJ
dem-8594	218	49	models	model	NOUN
dem-8594	218	50	15	15	NUM
dem-8594	218	51	(	(	PUNCT
dem-8594	218	52	2015	2015	NUM
dem-8594	218	53	)	)	PUNCT
dem-8594	218	54	129–156	129–156	NUM
dem-8594	218	55	142	142	NUM
dem-8594	218	56	where	where	SCONJ
dem-8594	218	57	)	)	PUNCT
dem-8594	218	58	/(=ˆ	/(=ˆ	PROPN
dem-8594	218	59	10	10	NUM
dem-8594	218	60	iiijij	iiijij	ADJ
dem-8594	218	61	ttt	ttt	PROPN
dem-8594	219	1	+	+	PROPN
dem-8594	219	2	π	π	PROPN
dem-8594	219	3	;	;	PUNCT
dem-8594	219	4	ttt	ttt	X
dem-8594	219	5	)	)	PUNCT
dem-8594	220	1	/(=ˆ	/(=ˆ	PUNCT
dem-8594	220	2	1101	1101	NUM
dem-8594	221	1	+	+	NOUN
dem-8594	221	2	π	π	PROPN
dem-8594	221	3	for	for	ADP
dem-8594	221	4	0,1=	0,1=	PROPN
dem-8594	221	5	,	,	PUNCT
dem-8594	221	6	ij	ij	INTJ
dem-8594	221	7	,	,	PUNCT
dem-8594	221	8	ijt	ijt	VERB
dem-8594	221	9	–	–	PUNCT
dem-8594	221	10	number	number	NOUN
dem-8594	221	11	of	of	ADP
dem-8594	221	12	points	point	NOUN
dem-8594	221	13	at	at	ADP
dem-8594	221	14	time	time	NOUN
dem-8594	221	15	{	{	PUNCT
dem-8594	221	16	}	}	PUNCT
dem-8594	221	17	ttt	ttt	PROPN
dem-8594	221	18	≤≤;2	≤≤;2	NOUN
dem-8594	221	19	for	for	ADP
dem-8594	221	20	which	which	PRON
dem-8594	221	21	the	the	DET
dem-8594	221	22	ii	ii	NOUN
dem-8594	221	23	t	t	PROPN
dem-8594	221	24	=	=	PUNCT
dem-8594	221	25	follows	follow	VERB
dem-8594	221	26	ji	ji	PROPN
dem-8594	221	27	t	t	PROPN
dem-8594	221	28	=	=	PROPN
dem-8594	221	29	1	1	NUM
dem-8594	221	30	+	+	NUM
dem-8594	221	31	.	.	PUNCT
dem-8594	222	1	the	the	DET
dem-8594	222	2	test	test	NOUN
dem-8594	222	3	statistic	statistic	NOUN
dem-8594	222	4	has	have	VERB
dem-8594	222	5	asymptotic	asymptotic	ADJ
dem-8594	222	6	distribution	distribution	NOUN
dem-8594	222	7	2	2	NUM
dem-8594	222	8	2χ	2χ	NOUN
dem-8594	222	9	.	.	PUNCT
dem-8594	223	1	the	the	DET
dem-8594	223	2	null	null	ADJ
dem-8594	223	3	hypothesis	hypothesis	NOUN
dem-8594	223	4	is	be	AUX
dem-8594	223	5	rejected	reject	VERB
dem-8594	223	6	if	if	SCONJ
dem-8594	223	7	the	the	DET
dem-8594	223	8	statistical	statistical	ADJ
dem-8594	223	9	value	value	NOUN
dem-8594	223	10	is	be	AUX
dem-8594	223	11	above	above	ADP
dem-8594	223	12	a	a	DET
dem-8594	223	13	critical	critical	ADJ
dem-8594	223	14	value	value	NOUN
dem-8594	223	15	,	,	PUNCT
dem-8594	223	16	i.e.	i.e.	X
dem-8594	223	17	99.5	99.5	NUM
dem-8594	223	18	>	>	PUNCT
dem-8594	223	19	cclr	cclr	NOUN
dem-8594	223	20	.	.	PUNCT
dem-8594	224	1	the	the	DET
dem-8594	224	2	dynamic	dynamic	ADJ
dem-8594	224	3	quantile	quantile	ADJ
dem-8594	224	4	test	test	NOUN
dem-8594	224	5	was	be	AUX
dem-8594	224	6	constructed	construct	VERB
dem-8594	224	7	to	to	PART
dem-8594	224	8	check	check	VERB
dem-8594	224	9	the	the	DET
dem-8594	224	10	absence	absence	NOUN
dem-8594	224	11	of	of	ADP
dem-8594	224	12	autocorrelation	autocorrelation	NOUN
dem-8594	224	13	in	in	ADP
dem-8594	224	14	sequence	sequence	NOUN
dem-8594	224	15	}	}	PUNCT
dem-8594	224	16	,	,	PUNCT
dem-8594	224	17	1,,=	1,,=	NUM
dem-8594	224	18	:	:	PUNCT
dem-8594	224	19	{	{	PUNCT
dem-8594	224	20	tttttpoz	tttttpoz	NOUN
dem-8594	224	21	t	t	X
dem-8594	224	22	′++	′++	PROPN
dem-8594	224	23	kξ	kξ	NOUN
dem-8594	224	24	,	,	PUNCT
dem-8594	224	25	where	where	SCONJ
dem-8594	224	26	poz	poz	PROPN
dem-8594	224	27	tξ	tξ	VERB
dem-8594	224	28	is	be	AUX
dem-8594	224	29	binary	binary	ADJ
dem-8594	224	30	variable	variable	NOUN
dem-8594	224	31	expressed	express	VERB
dem-8594	224	32	by	by	ADP
dem-8594	224	33	equations	equation	NOUN
dem-8594	224	34	(	(	PUNCT
dem-8594	224	35	30)–(31	30)–(31	NUM
dem-8594	224	36	)	)	PUNCT
dem-8594	224	37	.	.	PUNCT
dem-8594	225	1	define	define	VERB
dem-8594	225	2	for	for	ADP
dem-8594	225	3	long	long	ADJ
dem-8594	225	4	position	position	NOUN
dem-8594	225	5	ααα	ααα	AUX
dem-8594	225	6	−−	−−	PROPN
dem-8594	225	7	)	)	PUNCT
dem-8594	225	8	)	)	PUNCT
dem-8594	226	1	(	(	PUNCT
dem-8594	226	2	<	<	X
dem-8594	226	3	(=	(=	X
dem-8594	226	4	)	)	PUNCT
dem-8594	226	5	(	(	PUNCT
dem-8594	226	6	tt	tt	PROPN
dem-8594	226	7	l	l	PROPN
dem-8594	226	8	t	t	PROPN
dem-8594	226	9	varyihit	varyihit	NOUN
dem-8594	226	10	and	and	CCONJ
dem-8594	226	11	for	for	ADP
dem-8594	226	12	short	short	ADJ
dem-8594	226	13	position	position	NOUN
dem-8594	226	14	:	:	PUNCT
dem-8594	226	15	)	)	PUNCT
dem-8594	226	16	(	(	PUNCT
dem-8594	226	17	)	)	PUNCT
dem-8594	226	18	)	)	PUNCT
dem-8594	226	19	(	(	PUNCT
dem-8594	226	20	>	>	X
dem-8594	226	21	(=	(=	X
dem-8594	226	22	)	)	PUNCT
dem-8594	227	1	(	(	PUNCT
dem-8594	227	2	ααα	ααα	ADV
dem-8594	227	3	−tt	−tt	PROPN
dem-8594	227	4	s	s	PROPN
dem-8594	227	5	t	t	NOUN
dem-8594	227	6	varyihit	varyihit	NOUN
dem-8594	227	7	,	,	PUNCT
dem-8594	227	8	where	where	SCONJ
dem-8594	227	9	)	)	PUNCT
dem-8594	227	10	(	(	PUNCT
dem-8594	227	11	⋅i	⋅i	PROPN
dem-8594	227	12	is	be	AUX
dem-8594	227	13	indication	indication	NOUN
dem-8594	227	14	function	function	NOUN
dem-8594	227	15	.	.	PUNCT
dem-8594	228	1	the	the	DET
dem-8594	228	2	dynamic	dynamic	ADJ
dem-8594	228	3	quantile	quantile	ADJ
dem-8594	228	4	test	test	NOUN
dem-8594	228	5	verifies	verifie	NOUN
dem-8594	228	6	two	two	NUM
dem-8594	228	7	hypothesis	hypothesis	NOUN
dem-8594	228	8	simultaneously	simultaneously	ADV
dem-8594	228	9	:	:	PUNCT
dem-8594	228	10	•	•	X
dem-8594	228	11	,	,	PUNCT
dem-8594	228	12	0=))((:01	0=))((:01	PROPN
dem-8594	228	13	αpoz	αpoz	VERB
dem-8594	228	14	thiteh	thiteh	NOUN
dem-8594	228	15	•	•	ADP
dem-8594	228	16	:	:	PUNCT
dem-8594	228	17	02h	02h	X
dem-8594	228	18	variable	variable	ADJ
dem-8594	228	19	)	)	PUNCT
dem-8594	228	20	(	(	PUNCT
dem-8594	228	21	αpoz	αpoz	PROPN
dem-8594	228	22	thit	thit	PROPN
dem-8594	228	23	is	be	AUX
dem-8594	228	24	uncorrelated	uncorrelate	VERB
dem-8594	228	25	with	with	ADP
dem-8594	228	26	the	the	DET
dem-8594	228	27	variables	variable	NOUN
dem-8594	228	28	included	include	VERB
dem-8594	228	29	into	into	ADP
dem-8594	228	30	information	information	NOUN
dem-8594	228	31	set	set	VERB
dem-8594	228	32	.	.	PUNCT
dem-8594	229	1	engle	engle	PROPN
dem-8594	229	2	and	and	CCONJ
dem-8594	229	3	manganelli	manganelli	PROPN
dem-8594	229	4	(	(	PUNCT
dem-8594	229	5	2004	2004	NUM
dem-8594	229	6	)	)	PUNCT
dem-8594	229	7	jointly	jointly	ADV
dem-8594	229	8	verify	verify	VERB
dem-8594	229	9	the	the	DET
dem-8594	229	10	above	above	ADJ
dem-8594	229	11	hypothesis	hypothesis	NOUN
dem-8594	229	12	by	by	ADP
dem-8594	229	13	the	the	DET
dem-8594	229	14	regression	regression	NOUN
dem-8594	229	15	of	of	ADP
dem-8594	229	16	the	the	DET
dem-8594	229	17	following	follow	VERB
dem-8594	229	18	form	form	NOUN
dem-8594	229	19	:	:	PUNCT
dem-8594	229	20	,	,	PUNCT
dem-8594	229	21	=)	=)	PROPN
dem-8594	229	22	(	(	PUNCT
dem-8594	229	23	t	t	PROPN
dem-8594	229	24	pozhit	pozhit	VERB
dem-8594	229	25	ελα	ελα	NOUN
dem-8594	229	26	+	+	NOUN
dem-8594	229	27	x	x	X
dem-8594	229	28	(	(	PUNCT
dem-8594	229	29	35	35	NUM
dem-8594	229	30	)	)	PUNCT
dem-8594	229	31	where	where	SCONJ
dem-8594	229	32	x	x	PRON
dem-8594	229	33	is	be	AUX
dem-8594	229	34	the	the	DET
dem-8594	229	35	matrix	matrix	NOUN
dem-8594	229	36	]	]	X
dem-8594	229	37	[=	[=	X
dem-8594	229	38	,	,	PUNCT
dem-8594	229	39	jtxx	jtxx	NOUN
dem-8594	229	40	of	of	ADP
dem-8594	229	41	dimension	dimension	NOUN
dem-8594	229	42	kt	kt	PROPN
dem-8594	229	43	×	×	NOUN
dem-8594	229	44	,	,	PUNCT
dem-8594	229	45	where	where	SCONJ
dem-8594	229	46	in	in	ADP
dem-8594	229	47	the	the	DET
dem-8594	229	48	first	first	ADJ
dem-8594	229	49	column	column	NOUN
dem-8594	229	50	are	be	AUX
dem-8594	229	51	the	the	DET
dem-8594	229	52	ones	one	NOUN
dem-8594	229	53	,	,	PUNCT
dem-8594	229	54	then	then	ADV
dem-8594	229	55	p	p	NOUN
dem-8594	229	56	columns	column	NOUN
dem-8594	229	57	contains	contain	VERB
dem-8594	229	58	variables	variable	NOUN
dem-8594	229	59	ptt	ptt	PROPN
dem-8594	229	60	hithit	hithit	PROPN
dem-8594	229	61	−−	−−	PROPN
dem-8594	229	62	k,1	k,1	PROPN
dem-8594	229	63	,	,	PUNCT
dem-8594	229	64	and	and	CCONJ
dem-8594	229	65	k	k	X
dem-8594	229	66	–	–	PUNCT
dem-8594	229	67	p–1	p–1	VERB
dem-8594	229	68	remaining	remain	VERB
dem-8594	229	69	columns	column	NOUN
dem-8594	229	70	–	–	PUNCT
dem-8594	229	71	an	an	DET
dem-8594	229	72	additional	additional	ADJ
dem-8594	229	73	independent	independent	ADJ
dem-8594	229	74	variables	variable	NOUN
dem-8594	229	75	(	(	PUNCT
dem-8594	229	76	including	include	VERB
dem-8594	229	77	tvar)cthe	tvar)cthe	DET
dem-8594	229	78	dynamic	dynamic	ADJ
dem-8594	229	79	quantile	quantile	ADJ
dem-8594	229	80	test	test	NOUN
dem-8594	229	81	statistic	statistic	NOUN
dem-8594	229	82	is	be	AUX
dem-8594	229	83	expressed	express	VERB
dem-8594	229	84	by	by	ADP
dem-8594	229	85	the	the	DET
dem-8594	229	86	equation	equation	NOUN
dem-8594	229	87	:	:	PUNCT
dem-8594	229	88	,	,	PUNCT
dem-8594	229	89	)	)	PUNCT
dem-8594	229	90	(	(	PUNCT
dem-8594	229	91	1	1	NUM
dem-8594	229	92	ˆˆ	ˆˆ	NOUN
dem-8594	229	93	αα	αα	NOUN
dem-8594	229	94	λλ	λλ	ADP
dem-8594	229	95	−	−	PROPN
dem-8594	229	96	′xx	′xx	NOUN
dem-8594	229	97	'	'	PUNCT
dem-8594	229	98	(	(	PUNCT
dem-8594	229	99	38	38	NUM
dem-8594	229	100	)	)	PUNCT
dem-8594	230	1	where	where	SCONJ
dem-8594	230	2	(	(	PUNCT
dem-8594	230	3	)	)	PUNCT
dem-8594	230	4	yxxx	yxxx	NOUN
dem-8594	230	5	′′	′′	PROPN
dem-8594	230	6	−1	−1	NOUN
dem-8594	230	7	=	=	NOUN
dem-8594	230	8	λ̂	λ̂	X
dem-8594	230	9	is	be	AUX
dem-8594	230	10	the	the	DET
dem-8594	230	11	ols	ol	NOUN
dem-8594	230	12	estimate	estimate	NOUN
dem-8594	230	13	of	of	ADP
dem-8594	230	14	parameters	parameter	NOUN
dem-8594	230	15	λ	λ	INTJ
dem-8594	230	16	.	.	PUNCT
dem-8594	231	1	the	the	DET
dem-8594	231	2	test	test	NOUN
dem-8594	231	3	statistic	statistic	NOUN
dem-8594	231	4	is	be	AUX
dem-8594	231	5	asymptotically	asymptotically	ADV
dem-8594	231	6	distributed	distribute	VERB
dem-8594	231	7	2kχ	2kχ	PROPN
dem-8594	231	8	.	.	PUNCT
dem-8594	232	1	detailed	detailed	ADJ
dem-8594	232	2	test	test	NOUN
dem-8594	232	3	results	result	NOUN
dem-8594	232	4	are	be	AUX
dem-8594	232	5	available	available	ADJ
dem-8594	232	6	from	from	ADP
dem-8594	232	7	the	the	DET
dem-8594	232	8	author	author	NOUN
dem-8594	232	9	on	on	ADP
dem-8594	232	10	the	the	DET
dem-8594	232	11	request	request	NOUN
dem-8594	232	12	.	.	PUNCT
dem-8594	233	1	in	in	ADP
dem-8594	233	2	table	table	NOUN
dem-8594	233	3	(	(	PUNCT
dem-8594	233	4	12)–(13	12)–(13	NUM
dem-8594	233	5	)	)	PUNCT
dem-8594	233	6	bolded	bolde	VERB
dem-8594	233	7	value	value	NOUN
dem-8594	233	8	indicate	indicate	VERB
dem-8594	233	9	models	model	NOUN
dem-8594	233	10	which	which	PRON
dem-8594	233	11	are	be	AUX
dem-8594	233	12	adequate	adequate	ADJ
dem-8594	233	13	under	under	ADP
dem-8594	233	14	assumed	assume	VERB
dem-8594	233	15	criterion	criterion	NOUN
dem-8594	233	16	.	.	PUNCT
dem-8594	234	1	lopez	lopez	NOUN
dem-8594	234	2	(	(	PUNCT
dem-8594	234	3	1998	1998	NUM
dem-8594	234	4	)	)	PUNCT
dem-8594	234	5	proposed	propose	VERB
dem-8594	234	6	the	the	DET
dem-8594	234	7	loss	loss	NOUN
dem-8594	234	8	functions	function	NOUN
dem-8594	234	9	evaluation	evaluation	NOUN
dem-8594	234	10	method	method	NOUN
dem-8594	234	11	not	not	PART
dem-8594	234	12	based	base	VERB
dem-8594	234	13	on	on	ADP
dem-8594	234	14	hypothesis	hypothesis	NOUN
dem-8594	234	15	testing	testing	NOUN
dem-8594	234	16	framework	framework	NOUN
dem-8594	234	17	,	,	PUNCT
dem-8594	234	18	but	but	CCONJ
dem-8594	234	19	rather	rather	ADV
dem-8594	234	20	on	on	ADP
dem-8594	234	21	assigning	assign	VERB
dem-8594	234	22	to	to	ADP
dem-8594	234	23	the	the	DET
dem-8594	234	24	var	var	NOUN
dem-8594	234	25	estimates	estimate	VERB
dem-8594	234	26	a	a	DET
dem-8594	234	27	numerical	numerical	ADJ
dem-8594	234	28	score	score	NOUN
dem-8594	234	29	that	that	PRON
dem-8594	234	30	reflects	reflect	VERB
dem-8594	234	31	specific	specific	ADJ
dem-8594	234	32	regulatory	regulatory	ADJ
dem-8594	234	33	or	or	CCONJ
dem-8594	234	34	firm	firm	NOUN
dem-8594	234	35	’s	’s	PART
dem-8594	234	36	risk	risk	NOUN
dem-8594	234	37	modeling	modeling	NOUN
dem-8594	234	38	of	of	ADP
dem-8594	234	39	commodities	commodity	NOUN
dem-8594	234	40	using	use	VERB
dem-8594	234	41	caviar	caviar	NOUN
dem-8594	234	42	models	model	NOUN
dem-8594	234	43	…	…	PUNCT
dem-8594	234	44	dynamic	dynamic	ADJ
dem-8594	234	45	econometric	econometric	ADJ
dem-8594	234	46	models	model	NOUN
dem-8594	234	47	15	15	NUM
dem-8594	234	48	(	(	PUNCT
dem-8594	234	49	2015	2015	NUM
dem-8594	234	50	)	)	PUNCT
dem-8594	234	51	129–156	129–156	NUM
dem-8594	234	52	143	143	NUM
dem-8594	234	53	concern	concern	NOUN
dem-8594	234	54	.	.	PUNCT
dem-8594	235	1	in	in	ADP
dem-8594	235	2	our	our	PRON
dem-8594	235	3	research	research	NOUN
dem-8594	235	4	we	we	PRON
dem-8594	235	5	take	take	VERB
dem-8594	235	6	into	into	ADP
dem-8594	235	7	account	account	NOUN
dem-8594	235	8	binary	binary	ADJ
dem-8594	235	9	loss	loss	NOUN
dem-8594	235	10	,	,	PUNCT
dem-8594	235	11	regulatory	regulatory	ADJ
dem-8594	235	12	loss	loss	NOUN
dem-8594	235	13	and	and	CCONJ
dem-8594	235	14	firm	firm	NOUN
dem-8594	235	15	’s	’s	PART
dem-8594	235	16	loss	loss	NOUN
dem-8594	235	17	.	.	PUNCT
dem-8594	236	1	let	let	VERB
dem-8594	236	2	loss	loss	NOUN
dem-8594	236	3	function	function	NOUN
dem-8594	236	4	will	will	AUX
dem-8594	236	5	be	be	AUX
dem-8594	236	6	implied	imply	VERB
dem-8594	236	7	by	by	ADP
dem-8594	236	8	the	the	DET
dem-8594	236	9	binomial	binomial	ADJ
dem-8594	236	10	method	method	NOUN
dem-8594	236	11	which	which	PRON
dem-8594	236	12	takes	take	VERB
dem-8594	236	13	value	value	NOUN
dem-8594	236	14	0	0	NUM
dem-8594	236	15	or	or	CCONJ
dem-8594	236	16	1	1	NUM
dem-8594	236	17	related	relate	VERB
dem-8594	236	18	with	with	ADP
dem-8594	236	19	observed	observed	ADJ
dem-8594	236	20	var	var	NOUN
dem-8594	236	21	breach	breach	NOUN
dem-8594	236	22	:	:	PUNCT
dem-8594	236	23			VERB
dem-8594	236	24			NOUN
dem-8594	236	25			PROPN
dem-8594	236	26	−	−	PROPN
dem-8594	237	1	−≥	−≥	INTJ
dem-8594	238	1	+	+	PROPN
dem-8594	238	2	+	+	CCONJ
dem-8594	239	1	+	+	X
dem-8594	239	2	)	)	PUNCT
dem-8594	239	3	(	(	PUNCT
dem-8594	239	4	<	<	NOUN
dem-8594	239	5	1	1	NUM
dem-8594	239	6	)	)	PUNCT
dem-8594	239	7	(	(	PUNCT
dem-8594	239	8	0	0	NUM
dem-8594	239	9	=)	=)	NOUN
dem-8594	239	10	)	)	PUNCT
dem-8594	239	11	(	(	PUNCT
dem-8594	239	12	,	,	PUNCT
dem-8594	239	13	(	(	PUNCT
dem-8594	239	14	α	α	NOUN
dem-8594	239	15	αα	αα	NOUN
dem-8594	239	16	l	l	NOUN
dem-8594	239	17	tnt	tnt	PROPN
dem-8594	239	18	l	l	PROPN
dem-8594	239	19	tntl	tntl	PROPN
dem-8594	239	20	tnt	tnt	PROPN
dem-8594	239	21	l	l	PROPN
dem-8594	239	22	t	t	PROPN
dem-8594	239	23	varyfor	varyfor	ADV
dem-8594	239	24	varyfor	varyfor	VERB
dem-8594	239	25	varyf	varyf	NOUN
dem-8594	239	26	,	,	PUNCT
dem-8594	239	27	(	(	PUNCT
dem-8594	239	28	39	39	NUM
dem-8594	239	29	)	)	PUNCT
dem-8594	239	30	.	.	PUNCT
dem-8594	240	1	)	)	PUNCT
dem-8594	241	1	(	(	PUNCT
dem-8594	241	2	1	1	X
dem-8594	241	3	)	)	PUNCT
dem-8594	241	4	(	(	PUNCT
dem-8594	241	5	<	<	X
dem-8594	241	6	0	0	NUM
dem-8594	241	7	=)	=)	NOUN
dem-8594	241	8	)	)	PUNCT
dem-8594	241	9	(	(	PUNCT
dem-8594	241	10	,	,	PUNCT
dem-8594	241	11	(	(	PUNCT
dem-8594	241	12			ADJ
dem-8594	241	13			X
dem-8594	241	14			PROPN
dem-8594	241	15	≥+	≥+	NOUN
dem-8594	242	1	+	+	X
dem-8594	242	2	+	+	CCONJ
dem-8594	242	3	α	α	PRON
dem-8594	242	4	αα	αα	NOUN
dem-8594	242	5	s	s	NOUN
dem-8594	242	6	tnt	tnt	PROPN
dem-8594	242	7	s	s	PART
dem-8594	242	8	tnts	tnt	NOUN
dem-8594	242	9	tnt	tnt	PROPN
dem-8594	242	10	s	s	PROPN
dem-8594	242	11	t	t	NOUN
dem-8594	242	12	varyfor	varyfor	NOUN
dem-8594	242	13	varyfor	varyfor	ADP
dem-8594	242	14	varyf	varyf	NOUN
dem-8594	242	15	(	(	PUNCT
dem-8594	242	16	36	36	NUM
dem-8594	242	17	)	)	PUNCT
dem-8594	242	18	binary	binary	ADJ
dem-8594	242	19	loss	loss	NOUN
dem-8594	242	20	(	(	PUNCT
dem-8594	242	21	bl	bl	INTJ
dem-8594	242	22	)	)	PUNCT
dem-8594	242	23	is	be	AUX
dem-8594	242	24	described	describe	VERB
dem-8594	242	25	by	by	ADP
dem-8594	242	26	the	the	DET
dem-8594	242	27	number	number	NOUN
dem-8594	242	28	of	of	ADP
dem-8594	242	29	exceptions	exception	NOUN
dem-8594	242	30	observed	observe	VERB
dem-8594	242	31	in	in	ADP
dem-8594	242	32	period	period	NOUN
dem-8594	242	33	from	from	ADP
dem-8594	242	34	ntt	ntt	PROPN
dem-8594	242	35	+	+	NOUN
dem-8594	242	36	=	=	PROPN
dem-8594	242	37	to	to	PART
dem-8594	242	38	nttt	nttt	NOUN
dem-8594	243	1	+	+	NUM
dem-8594	243	2	′+=	′+=	NOUN
dem-8594	243	3	(	(	PUNCT
dem-8594	243	4	lopez	lopez	NOUN
dem-8594	243	5	,	,	PUNCT
dem-8594	243	6	1998	1998	NUM
dem-8594	243	7	;	;	PUNCT
dem-8594	243	8	pipien	pipien	PROPN
dem-8594	243	9	,	,	PUNCT
dem-8594	243	10	2006	2006	NUM
dem-8594	243	11	):	):	PUNCT
dem-8594	243	12	poz	poz	PROPN
dem-8594	243	13	t	t	PROPN
dem-8594	243	14	tt	tt	X
dem-8594	243	15	tt	tt	PROPN
dem-8594	243	16	poz	poz	PROPN
dem-8594	243	17	fbl	fbl	VERB
dem-8594	243	18	∑	∑	PUNCT
dem-8594	243	19	′+	′+	PUNCT
dem-8594	243	20	=	=	SYM
dem-8594	243	21	=	=	PUNCT
dem-8594	243	22	.	.	PUNCT
dem-8594	244	1	(	(	PUNCT
dem-8594	244	2	37	37	NUM
dem-8594	244	3	)	)	PUNCT
dem-8594	244	4	the	the	DET
dem-8594	244	5	smaller	small	ADJ
dem-8594	244	6	is	be	AUX
dem-8594	244	7	the	the	DET
dem-8594	244	8	number	number	NOUN
dem-8594	244	9	of	of	ADP
dem-8594	244	10	exceedances	exceedance	NOUN
dem-8594	244	11	,	,	PUNCT
dem-8594	244	12	the	the	DET
dem-8594	244	13	better	well	ADJ
dem-8594	244	14	rating	rating	NOUN
dem-8594	244	15	for	for	ADP
dem-8594	244	16	the	the	DET
dem-8594	244	17	models	model	NOUN
dem-8594	244	18	will	will	AUX
dem-8594	244	19	be	be	AUX
dem-8594	244	20	assigned	assign	VERB
dem-8594	244	21	.	.	PUNCT
dem-8594	245	1	this	this	DET
dem-8594	245	2	criterion	criterion	NOUN
dem-8594	245	3	favors	favor	VERB
dem-8594	245	4	models	model	NOUN
dem-8594	245	5	which	which	PRON
dem-8594	245	6	overestimate	overestimate	VERB
dem-8594	245	7	the	the	DET
dem-8594	245	8	var	var	NOUN
dem-8594	245	9	and	and	CCONJ
dem-8594	245	10	assign	assign	VERB
dem-8594	245	11	low	low	ADJ
dem-8594	245	12	score	score	NOUN
dem-8594	245	13	for	for	ADP
dem-8594	245	14	the	the	DET
dem-8594	245	15	models	model	NOUN
dem-8594	245	16	that	that	PRON
dem-8594	245	17	generate	generate	VERB
dem-8594	245	18	liberal	liberal	ADJ
dem-8594	245	19	var	var	NOUN
dem-8594	245	20	forecasts	forecast	NOUN
dem-8594	245	21	.	.	PUNCT
dem-8594	246	1	in	in	ADP
dem-8594	246	2	the	the	DET
dem-8594	246	3	assessment	assessment	NOUN
dem-8594	246	4	of	of	ADP
dem-8594	246	5	var	var	NOUN
dem-8594	246	6	forecasts	forecast	NOUN
dem-8594	246	7	an	an	DET
dem-8594	246	8	important	important	ADJ
dem-8594	246	9	issue	issue	NOUN
dem-8594	246	10	is	be	AUX
dem-8594	246	11	to	to	PART
dem-8594	246	12	take	take	VERB
dem-8594	246	13	into	into	ADP
dem-8594	246	14	account	account	NOUN
dem-8594	246	15	the	the	DET
dem-8594	246	16	size	size	NOUN
dem-8594	246	17	of	of	ADP
dem-8594	246	18	the	the	DET
dem-8594	246	19	losses	loss	NOUN
dem-8594	246	20	that	that	PRON
dem-8594	246	21	are	be	AUX
dem-8594	246	22	associated	associate	VERB
dem-8594	246	23	with	with	ADP
dem-8594	246	24	exceptions	exception	NOUN
dem-8594	246	25	of	of	ADP
dem-8594	246	26	var	var	NOUN
dem-8594	246	27	by	by	ADP
dem-8594	246	28	observation	observation	NOUN
dem-8594	246	29	nty	nty	NOUN
dem-8594	247	1	+	+	CCONJ
dem-8594	247	2	.	.	PUNCT
dem-8594	248	1	function	function	NOUN
dem-8594	248	2	(	(	PUNCT
dem-8594	248	3	41	41	NUM
dem-8594	248	4	)	)	PUNCT
dem-8594	248	5	includes	include	VERB
dem-8594	248	6	only	only	ADV
dem-8594	248	7	the	the	DET
dem-8594	248	8	fact	fact	NOUN
dem-8594	248	9	of	of	ADP
dem-8594	248	10	exceptions	exception	NOUN
dem-8594	248	11	,	,	PUNCT
dem-8594	248	12	and	and	CCONJ
dem-8594	248	13	does	do	AUX
dem-8594	248	14	not	not	PART
dem-8594	248	15	take	take	VERB
dem-8594	248	16	into	into	ADP
dem-8594	248	17	account	account	NOUN
dem-8594	248	18	the	the	DET
dem-8594	248	19	size	size	NOUN
dem-8594	248	20	of	of	ADP
dem-8594	248	21	the	the	DET
dem-8594	248	22	losses	loss	NOUN
dem-8594	248	23	arising	arise	VERB
dem-8594	248	24	from	from	ADP
dem-8594	248	25	an	an	DET
dem-8594	248	26	extremal	extremal	ADJ
dem-8594	248	27	market	market	NOUN
dem-8594	248	28	movement	movement	NOUN
dem-8594	248	29	.	.	PUNCT
dem-8594	249	1	the	the	DET
dem-8594	249	2	second	second	ADJ
dem-8594	249	3	loss	loss	NOUN
dem-8594	249	4	function	function	NOUN
dem-8594	249	5	proposed	propose	VERB
dem-8594	249	6	by	by	ADP
dem-8594	249	7	lopez	lopez	PROPN
dem-8594	249	8	(	(	PUNCT
dem-8594	249	9	1999	1999	NUM
dem-8594	249	10	)	)	PUNCT
dem-8594	249	11	contains	contain	VERB
dem-8594	249	12	both	both	DET
dem-8594	249	13	the	the	DET
dem-8594	249	14	magnitude	magnitude	NOUN
dem-8594	249	15	and	and	CCONJ
dem-8594	249	16	the	the	DET
dem-8594	249	17	number	number	NOUN
dem-8594	249	18	of	of	ADP
dem-8594	249	19	exceptions	exception	NOUN
dem-8594	249	20	:	:	PUNCT
dem-8594	249	21			ADJ
dem-8594	249	22			NOUN
dem-8594	249	23			PROPN
dem-8594	249	24	−++	−++	ADP
dem-8594	249	25	−≥	−≥	VERB
dem-8594	250	1	+	+	PROPN
dem-8594	250	2	+	+	PROPN
dem-8594	250	3	+	+	CCONJ
dem-8594	250	4	+	+	X
dem-8594	250	5	)	)	PUNCT
dem-8594	250	6	(	(	PUNCT
dem-8594	250	7	<	<	NOUN
dem-8594	250	8	)	)	PUNCT
dem-8594	250	9	)	)	PUNCT
dem-8594	250	10	(	(	PUNCT
dem-8594	250	11	(	(	PUNCT
dem-8594	250	12	1	1	NUM
dem-8594	250	13	)	)	PUNCT
dem-8594	250	14	(	(	PUNCT
dem-8594	250	15	0	0	NUM
dem-8594	250	16	=)	=)	NOUN
dem-8594	250	17	)	)	PUNCT
dem-8594	250	18	(	(	PUNCT
dem-8594	250	19	,	,	PUNCT
dem-8594	250	20	(	(	PUNCT
dem-8594	250	21	2	2	NUM
dem-8594	250	22	αα	αα	ADP
dem-8594	250	23	αα	αα	PROPN
dem-8594	250	24	l	l	NOUN
dem-8594	250	25	tnt	tnt	PROPN
dem-8594	250	26	l	l	PROPN
dem-8594	250	27	tnt	tnt	PROPN
dem-8594	250	28	l	l	PROPN
dem-8594	250	29	tntl	tntl	PROPN
dem-8594	250	30	tnt	tnt	PROPN
dem-8594	250	31	l	l	PROPN
dem-8594	250	32	t	t	PROPN
dem-8594	250	33	varyforvary	varyforvary	ADJ
dem-8594	250	34	varyfor	varyfor	PROPN
dem-8594	250	35	varyf	varyf	NOUN
dem-8594	250	36	,	,	PUNCT
dem-8594	250	37	(	(	PUNCT
dem-8594	250	38	38	38	NUM
dem-8594	250	39	)	)	PUNCT
dem-8594	250	40	.	.	PUNCT
dem-8594	250	41	)	)	PUNCT
dem-8594	251	1	(	(	PUNCT
dem-8594	251	2	)	)	PUNCT
dem-8594	251	3	)	)	PUNCT
dem-8594	251	4	(	(	PUNCT
dem-8594	251	5	(	(	PUNCT
dem-8594	251	6	1	1	NUM
dem-8594	251	7	)	)	PUNCT
dem-8594	251	8	(	(	PUNCT
dem-8594	251	9	<	<	X
dem-8594	251	10	0	0	NUM
dem-8594	251	11	=)	=)	NOUN
dem-8594	251	12	)	)	PUNCT
dem-8594	251	13	(	(	PUNCT
dem-8594	251	14	,	,	PUNCT
dem-8594	251	15	(	(	PUNCT
dem-8594	251	16	2	2	NUM
dem-8594	251	17			NOUN
dem-8594	251	18			NOUN
dem-8594	251	19			PROPN
dem-8594	251	20	≥−+	≥−+	NOUN
dem-8594	252	1	+	+	PROPN
dem-8594	253	1	+	+	PROPN
dem-8594	253	2	+	+	CCONJ
dem-8594	253	3	+	+	NUM
dem-8594	253	4	αα	αα	VERB
dem-8594	253	5	αα	αα	NOUN
dem-8594	253	6	s	s	NOUN
dem-8594	253	7	tnt	tnt	PROPN
dem-8594	253	8	s	s	X
dem-8594	253	9	tnt	tnt	PROPN
dem-8594	253	10	s	s	PART
dem-8594	253	11	tnts	tnt	NOUN
dem-8594	253	12	tnt	tnt	PROPN
dem-8594	253	13	s	s	PROPN
dem-8594	253	14	t	t	PROPN
dem-8594	253	15	varyforvary	varyforvary	ADJ
dem-8594	253	16	varyfor	varyfor	PROPN
dem-8594	253	17	varyf	varyf	NOUN
dem-8594	253	18	(	(	PUNCT
dem-8594	253	19	39	39	NUM
dem-8594	253	20	)	)	PUNCT
dem-8594	253	21	regulatory	regulatory	ADJ
dem-8594	253	22	loss	loss	NOUN
dem-8594	253	23	(	(	PUNCT
dem-8594	253	24	rl	rl	NOUN
dem-8594	253	25	)	)	PUNCT
dem-8594	253	26	is	be	AUX
dem-8594	253	27	expressed	express	VERB
dem-8594	253	28	as	as	ADP
dem-8594	253	29	follows	follow	VERB
dem-8594	253	30	(	(	PUNCT
dem-8594	253	31	sarma	sarma	NOUN
dem-8594	253	32	et	et	NOUN
dem-8594	253	33	al	al	PROPN
dem-8594	253	34	.	.	PROPN
dem-8594	253	35	,	,	PUNCT
dem-8594	253	36	2003	2003	NUM
dem-8594	253	37	):	):	PUNCT
dem-8594	253	38	.=	.=	NOUN
dem-8594	254	1	=	=	PRON
dem-8594	254	2	poz	poz	PROPN
dem-8594	254	3	t	t	X
dem-8594	254	4	tt	tt	X
dem-8594	254	5	tt	tt	PROPN
dem-8594	254	6	poz	poz	PROPN
dem-8594	254	7	frl	frl	PROPN
dem-8594	254	8	∑	∑	PROPN
dem-8594	254	9	′+	′+	PUNCT
dem-8594	254	10	(	(	PUNCT
dem-8594	254	11	40	40	NUM
dem-8594	254	12	)	)	PUNCT
dem-8594	254	13	thus	thus	ADV
dem-8594	254	14	,	,	PUNCT
dem-8594	254	15	as	as	ADP
dem-8594	254	16	before	before	ADV
dem-8594	254	17	,	,	PUNCT
dem-8594	254	18	a	a	DET
dem-8594	254	19	score	score	NOUN
dem-8594	254	20	of	of	ADP
dem-8594	254	21	one	one	NUM
dem-8594	254	22	is	be	AUX
dem-8594	254	23	imposed	impose	VERB
dem-8594	254	24	when	when	SCONJ
dem-8594	254	25	an	an	DET
dem-8594	254	26	exception	exception	NOUN
dem-8594	254	27	occurs	occur	VERB
dem-8594	254	28	,	,	PUNCT
dem-8594	254	29	but	but	CCONJ
dem-8594	254	30	also	also	ADV
dem-8594	254	31	,	,	PUNCT
dem-8594	254	32	an	an	DET
dem-8594	254	33	additional	additional	ADJ
dem-8594	254	34	term	term	NOUN
dem-8594	254	35	based	base	VERB
dem-8594	254	36	on	on	ADP
dem-8594	254	37	its	its	PRON
dem-8594	254	38	magnitude	magnitude	NOUN
dem-8594	254	39	is	be	AUX
dem-8594	254	40	included	include	VERB
dem-8594	254	41	.	.	PUNCT
dem-8594	255	1	the	the	DET
dem-8594	255	2	numerical	numerical	ADJ
dem-8594	255	3	score	score	NOUN
dem-8594	255	4	increases	increase	VERB
dem-8594	255	5	with	with	ADP
dem-8594	255	6	magnitude	magnitude	NOUN
dem-8594	255	7	of	of	ADP
dem-8594	255	8	the	the	DET
dem-8594	255	9	exception	exception	NOUN
dem-8594	255	10	and	and	CCONJ
dem-8594	255	11	can	can	AUX
dem-8594	255	12	provide	provide	VERB
dem-8594	255	13	additional	additional	ADJ
dem-8594	255	14	ewa	ewa	PROPN
dem-8594	255	15	ratuszny	ratuszny	NOUN
dem-8594	255	16	dynamic	dynamic	ADJ
dem-8594	255	17	econometric	econometric	ADJ
dem-8594	255	18	models	model	NOUN
dem-8594	255	19	15	15	NUM
dem-8594	255	20	(	(	PUNCT
dem-8594	255	21	2015	2015	NUM
dem-8594	255	22	)	)	PUNCT
dem-8594	255	23	129–156	129–156	NUM
dem-8594	255	24	144	144	NUM
dem-8594	255	25	information	information	NOUN
dem-8594	255	26	on	on	ADP
dem-8594	255	27	how	how	SCONJ
dem-8594	255	28	the	the	DET
dem-8594	255	29	underlying	underlying	ADJ
dem-8594	255	30	var	var	NOUN
dem-8594	255	31	model	model	NOUN
dem-8594	255	32	forecasts	forecast	VERB
dem-8594	255	33	the	the	DET
dem-8594	255	34	lower	low	ADJ
dem-8594	255	35	tail	tail	NOUN
dem-8594	255	36	of	of	ADP
dem-8594	255	37	the	the	DET
dem-8594	255	38	inderlying	inderlying	ADJ
dem-8594	255	39	distribution	distribution	NOUN
dem-8594	255	40	.	.	PUNCT
dem-8594	256	1	sarma	sarma	NOUN
dem-8594	256	2	et	et	NOUN
dem-8594	256	3	al	al	PROPN
dem-8594	256	4	.	.	PROPN
dem-8594	256	5	(	(	PUNCT
dem-8594	256	6	2003	2003	NUM
dem-8594	256	7	)	)	PUNCT
dem-8594	256	8	pointed	point	VERB
dem-8594	256	9	out	out	ADP
dem-8594	256	10	that	that	SCONJ
dem-8594	256	11	in	in	ADP
dem-8594	256	12	financial	financial	ADJ
dem-8594	256	13	institutions	institution	NOUN
dem-8594	256	14	exists	exist	VERB
dem-8594	256	15	conflict	conflict	NOUN
dem-8594	256	16	between	between	ADP
dem-8594	256	17	profit	profit	NOUN
dem-8594	256	18	maximization	maximization	NOUN
dem-8594	256	19	and	and	CCONJ
dem-8594	256	20	the	the	DET
dem-8594	256	21	duty	duty	NOUN
dem-8594	256	22	of	of	ADP
dem-8594	256	23	protection	protection	NOUN
dem-8594	256	24	against	against	ADP
dem-8594	256	25	market	market	NOUN
dem-8594	256	26	risk	risk	NOUN
dem-8594	256	27	.	.	PUNCT
dem-8594	257	1	the	the	DET
dem-8594	257	2	duty	duty	NOUN
dem-8594	257	3	is	be	AUX
dem-8594	257	4	related	relate	VERB
dem-8594	257	5	with	with	ADP
dem-8594	257	6	basel	basel	PROPN
dem-8594	257	7	iii	iii	NUM
dem-8594	257	8	which	which	PRON
dem-8594	257	9	imposes	impose	VERB
dem-8594	257	10	an	an	DET
dem-8594	257	11	obligation	obligation	NOUN
dem-8594	257	12	to	to	PART
dem-8594	257	13	maintain	maintain	VERB
dem-8594	257	14	the	the	DET
dem-8594	257	15	capital	capital	NOUN
dem-8594	257	16	requirements	requirement	NOUN
dem-8594	257	17	to	to	PART
dem-8594	257	18	cover	cover	VERB
dem-8594	257	19	potential	potential	ADJ
dem-8594	257	20	losses	loss	NOUN
dem-8594	257	21	.	.	PUNCT
dem-8594	258	1	sarma	sarma	NOUN
dem-8594	258	2	et	et	NOUN
dem-8594	258	3	al	al	PROPN
dem-8594	258	4	.	.	PROPN
dem-8594	258	5	(	(	PUNCT
dem-8594	258	6	2003	2003	NUM
dem-8594	258	7	)	)	PUNCT
dem-8594	258	8	propose	propose	VERB
dem-8594	258	9	to	to	PART
dem-8594	258	10	incorporate	incorporate	VERB
dem-8594	258	11	in	in	ADP
dem-8594	258	12	the	the	DET
dem-8594	258	13	loss	loss	NOUN
dem-8594	258	14	function	function	NOUN
dem-8594	258	15	the	the	DET
dem-8594	258	16	additional	additional	ADJ
dem-8594	258	17	costs	cost	NOUN
dem-8594	258	18	arising	arise	VERB
dem-8594	258	19	from	from	ADP
dem-8594	258	20	the	the	DET
dem-8594	258	21	capital	capital	NOUN
dem-8594	258	22	adequacy	adequacy	NOUN
dem-8594	258	23	.	.	PUNCT
dem-8594	259	1	the	the	DET
dem-8594	259	2	loss	loss	NOUN
dem-8594	259	3	function	function	NOUN
dem-8594	259	4	is	be	AUX
dem-8594	259	5	:	:	PUNCT
dem-8594	259	6			ADJ
dem-8594	259	7			NOUN
dem-8594	259	8			PROPN
dem-8594	259	9	−++	−++	ADP
dem-8594	259	10	−≥	−≥	VERB
dem-8594	260	1	+	+	PROPN
dem-8594	260	2	+	+	PROPN
dem-8594	260	3	+	+	CCONJ
dem-8594	260	4	+	+	X
dem-8594	260	5	)	)	PUNCT
dem-8594	260	6	(	(	PUNCT
dem-8594	260	7	<	<	NOUN
dem-8594	260	8	)	)	PUNCT
dem-8594	260	9	)	)	PUNCT
dem-8594	260	10	(	(	PUNCT
dem-8594	260	11	(	(	PUNCT
dem-8594	260	12	1	1	NUM
dem-8594	260	13	)	)	PUNCT
dem-8594	260	14	(	(	PUNCT
dem-8594	260	15	)	)	PUNCT
dem-8594	260	16	(	(	PUNCT
dem-8594	260	17	=	=	NOUN
dem-8594	260	18	)	)	PUNCT
dem-8594	260	19	)	)	PUNCT
dem-8594	260	20	(	(	PUNCT
dem-8594	260	21	,	,	PUNCT
dem-8594	260	22	(	(	PUNCT
dem-8594	260	23	2	2	NUM
dem-8594	260	24	αα	αα	NOUN
dem-8594	260	25	ααα	ααα	NOUN
dem-8594	260	26	l	l	NOUN
dem-8594	260	27	tnt	tnt	PROPN
dem-8594	260	28	l	l	PROPN
dem-8594	260	29	tnt	tnt	PROPN
dem-8594	260	30	l	l	PROPN
dem-8594	260	31	tnt	tnt	PROPN
dem-8594	260	32	l	l	PROPN
dem-8594	260	33	tl	tl	PROPN
dem-8594	260	34	tnt	tnt	PROPN
dem-8594	260	35	l	l	PROPN
dem-8594	260	36	t	t	PROPN
dem-8594	260	37	varyforvary	varyforvary	ADJ
dem-8594	260	38	varyforcvar	varyforcvar	PROPN
dem-8594	260	39	varyf	varyf	NOUN
dem-8594	260	40	,	,	PUNCT
dem-8594	260	41	(	(	PUNCT
dem-8594	260	42	45	45	NUM
dem-8594	260	43	)	)	PUNCT
dem-8594	260	44	.	.	PUNCT
dem-8594	260	45	)	)	PUNCT
dem-8594	261	1	(	(	PUNCT
dem-8594	261	2	)	)	PUNCT
dem-8594	261	3	)	)	PUNCT
dem-8594	261	4	(	(	PUNCT
dem-8594	261	5	(	(	PUNCT
dem-8594	261	6	1	1	NUM
dem-8594	261	7	)	)	PUNCT
dem-8594	261	8	(	(	PUNCT
dem-8594	261	9	<	<	X
dem-8594	261	10	)	)	PUNCT
dem-8594	261	11	(	(	PUNCT
dem-8594	261	12	=	=	NOUN
dem-8594	261	13	)	)	PUNCT
dem-8594	261	14	)	)	PUNCT
dem-8594	261	15	(	(	PUNCT
dem-8594	261	16	,	,	PUNCT
dem-8594	261	17	(	(	PUNCT
dem-8594	261	18	2	2	NUM
dem-8594	261	19			NOUN
dem-8594	261	20			NOUN
dem-8594	261	21			PROPN
dem-8594	261	22	≥−+	≥−+	NOUN
dem-8594	262	1	+	+	PROPN
dem-8594	263	1	+	+	PROPN
dem-8594	263	2	+	+	CCONJ
dem-8594	263	3	+	+	NUM
dem-8594	263	4	αα	αα	AUX
dem-8594	263	5	ααα	ααα	NOUN
dem-8594	263	6	s	s	VERB
dem-8594	263	7	tnt	tnt	PROPN
dem-8594	263	8	s	s	PROPN
dem-8594	263	9	tnt	tnt	PROPN
dem-8594	263	10	s	s	X
dem-8594	263	11	tnt	tnt	PROPN
dem-8594	263	12	s	s	X
dem-8594	263	13	ts	ts	ADP
dem-8594	263	14	tnt	tnt	PROPN
dem-8594	263	15	s	s	PROPN
dem-8594	263	16	t	t	PROPN
dem-8594	263	17	varyforvary	varyforvary	ADJ
dem-8594	263	18	varyforcvar	varyforcvar	PROPN
dem-8594	263	19	varyf	varyf	NOUN
dem-8594	263	20	(	(	PUNCT
dem-8594	263	21	46	46	NUM
dem-8594	263	22	)	)	PUNCT
dem-8594	263	23	where	where	SCONJ
dem-8594	263	24	the	the	DET
dem-8594	263	25	parameter	parameter	NOUN
dem-8594	263	26	0	0	NUM
dem-8594	263	27	>	>	X
dem-8594	263	28	c	c	PROPN
dem-8594	263	29	specifies	specify	VERB
dem-8594	263	30	the	the	DET
dem-8594	263	31	opportunity	opportunity	NOUN
dem-8594	263	32	cost	cost	NOUN
dem-8594	263	33	associated	associate	VERB
dem-8594	263	34	with	with	ADP
dem-8594	263	35	non	non	NOUN
dem-8594	263	36	-	-	NOUN
dem-8594	263	37	use	use	NOUN
dem-8594	263	38	of	of	ADP
dem-8594	263	39	the	the	DET
dem-8594	263	40	capital	capital	NOUN
dem-8594	263	41	which	which	PRON
dem-8594	263	42	the	the	DET
dem-8594	263	43	institution	institution	NOUN
dem-8594	263	44	must	must	AUX
dem-8594	263	45	hold	hold	VERB
dem-8594	263	46	in	in	ADP
dem-8594	263	47	order	order	NOUN
dem-8594	263	48	to	to	PART
dem-8594	263	49	hedge	hedge	VERB
dem-8594	263	50	against	against	ADP
dem-8594	263	51	the	the	DET
dem-8594	263	52	risk	risk	NOUN
dem-8594	263	53	predicted	predict	VERB
dem-8594	263	54	by	by	ADP
dem-8594	263	55	var	var	NOUN
dem-8594	263	56	(	(	PUNCT
dem-8594	263	57	sarma	sarma	PROPN
dem-8594	263	58	et	et	NOUN
dem-8594	263	59	al	al	PROPN
dem-8594	263	60	.	.	PROPN
dem-8594	263	61	,2003	,2003	PROPN
dem-8594	263	62	;	;	PUNCT
dem-8594	263	63	pipień	pipień	NOUN
dem-8594	263	64	,	,	PUNCT
dem-8594	263	65	2006	2006	NUM
dem-8594	263	66	)	)	PUNCT
dem-8594	263	67	.	.	PUNCT
dem-8594	264	1	in	in	ADP
dem-8594	264	2	our	our	PRON
dem-8594	264	3	research	research	NOUN
dem-8594	264	4	we	we	PRON
dem-8594	264	5	assume	assume	VERB
dem-8594	264	6	1	1	NUM
dem-8594	264	7	=	=	SYM
dem-8594	264	8	c	c	NOUN
dem-8594	264	9	.	.	PUNCT
dem-8594	265	1	the	the	DET
dem-8594	265	2	cumulated	cumulated	ADJ
dem-8594	265	3	value	value	NOUN
dem-8594	265	4	of	of	ADP
dem-8594	265	5	pozf	pozf	NOUN
dem-8594	265	6	is	be	AUX
dem-8594	265	7	expressed	express	VERB
dem-8594	265	8	as	as	ADP
dem-8594	265	9	follows	follow	VERB
dem-8594	265	10	(	(	PUNCT
dem-8594	265	11	pipień	pipień	NOUN
dem-8594	265	12	,	,	PUNCT
dem-8594	265	13	2006	2006	NUM
dem-8594	265	14	):	):	PUNCT
dem-8594	265	15	.=	.=	NOUN
dem-8594	266	1	=	=	PRON
dem-8594	266	2	poz	poz	PROPN
dem-8594	266	3	t	t	X
dem-8594	266	4	tt	tt	X
dem-8594	266	5	tt	tt	PROPN
dem-8594	266	6	poz	poz	PROPN
dem-8594	266	7	ffl	ffl	PROPN
dem-8594	266	8	∑	∑	PROPN
dem-8594	266	9	′+	′+	PUNCT
dem-8594	266	10	(	(	PUNCT
dem-8594	266	11	47	47	NUM
dem-8594	266	12	)	)	PUNCT
dem-8594	266	13	the	the	DET
dem-8594	266	14	function	function	NOUN
dem-8594	266	15	is	be	AUX
dem-8594	266	16	called	call	VERB
dem-8594	266	17	firm	firm	NOUN
dem-8594	266	18	’s	’s	PART
dem-8594	266	19	loss	loss	NOUN
dem-8594	266	20	(	(	PUNCT
dem-8594	266	21	fl	fl	NOUN
dem-8594	266	22	)	)	PUNCT
dem-8594	266	23	and	and	CCONJ
dem-8594	266	24	enables	enable	VERB
dem-8594	266	25	to	to	PART
dem-8594	266	26	compare	compare	VERB
dem-8594	266	27	the	the	DET
dem-8594	266	28	var	var	NOUN
dem-8594	266	29	forecasts	forecast	NOUN
dem-8594	266	30	generated	generate	VERB
dem-8594	266	31	by	by	ADP
dem-8594	266	32	different	different	ADJ
dem-8594	266	33	models	model	NOUN
dem-8594	266	34	in	in	ADP
dem-8594	266	35	scope	scope	NOUN
dem-8594	266	36	of	of	ADP
dem-8594	266	37	market	market	NOUN
dem-8594	266	38	risk	risk	NOUN
dem-8594	266	39	hedging	hedging	NOUN
dem-8594	266	40	.	.	PUNCT
dem-8594	267	1	the	the	DET
dem-8594	267	2	model	model	NOUN
dem-8594	267	3	that	that	PRON
dem-8594	267	4	generates	generate	VERB
dem-8594	267	5	too	too	ADV
dem-8594	267	6	conservative	conservative	ADJ
dem-8594	267	7	var	var	NOUN
dem-8594	267	8	predictions	prediction	NOUN
dem-8594	267	9	will	will	AUX
dem-8594	267	10	–	–	PUNCT
dem-8594	267	11	unlike	unlike	ADP
dem-8594	267	12	to	to	ADP
dem-8594	267	13	(	(	PUNCT
dem-8594	267	14	44	44	NUM
dem-8594	267	15	)	)	PUNCT
dem-8594	267	16	–	–	PUNCT
dem-8594	267	17	be	be	AUX
dem-8594	267	18	penalized	penalize	VERB
dem-8594	267	19	by	by	ADP
dem-8594	267	20	the	the	DET
dem-8594	267	21	(	(	PUNCT
dem-8594	267	22	47	47	NUM
dem-8594	267	23	)	)	PUNCT
dem-8594	267	24	due	due	ADP
dem-8594	267	25	to	to	ADP
dem-8594	267	26	inefficient	inefficient	ADJ
dem-8594	267	27	maintenance	maintenance	NOUN
dem-8594	267	28	of	of	ADP
dem-8594	267	29	excess	excess	ADJ
dem-8594	267	30	capital	capital	NOUN
dem-8594	267	31	in	in	ADP
dem-8594	267	32	order	order	NOUN
dem-8594	267	33	to	to	PART
dem-8594	267	34	hedge	hedge	VERB
dem-8594	267	35	against	against	ADP
dem-8594	267	36	market	market	NOUN
dem-8594	267	37	risks	risk	NOUN
dem-8594	267	38	.	.	PUNCT
dem-8594	268	1	6	6	X
dem-8594	268	2	.	.	X
dem-8594	268	3	empirical	empirical	ADJ
dem-8594	268	4	study	study	NOUN
dem-8594	268	5	6.1	6.1	NUM
dem-8594	268	6	.	.	PUNCT
dem-8594	269	1	descriptive	descriptive	ADJ
dem-8594	269	2	statistics	statistic	NOUN
dem-8594	269	3	we	we	PRON
dem-8594	269	4	analysed	analyse	VERB
dem-8594	269	5	close	close	ADJ
dem-8594	269	6	price	price	NOUN
dem-8594	269	7	(	(	PUNCT
dem-8594	269	8	tp	tp	NOUN
dem-8594	269	9	)	)	PUNCT
dem-8594	269	10	from	from	ADP
dem-8594	269	11	august	august	PROPN
dem-8594	269	12	1st	1st	NOUN
dem-8594	269	13	,	,	PUNCT
dem-8594	269	14	2008	2008	NUM
dem-8594	269	15	to	to	ADP
dem-8594	269	16	october	october	PROPN
dem-8594	269	17	10th	10th	NOUN
dem-8594	269	18	,	,	PUNCT
dem-8594	269	19	2014	2014	NUM
dem-8594	269	20	in	in	ADP
dem-8594	269	21	case	case	NOUN
dem-8594	269	22	of	of	ADP
dem-8594	269	23	gold	gold	NOUN
dem-8594	269	24	(	(	PUNCT
dem-8594	269	25	1593	1593	NUM
dem-8594	269	26	observation	observation	NOUN
dem-8594	269	27	)	)	PUNCT
dem-8594	269	28	,	,	PUNCT
dem-8594	269	29	and	and	CCONJ
dem-8594	269	30	from	from	ADP
dem-8594	269	31	may	may	PROPN
dem-8594	269	32	10th	10th	NUM
dem-8594	269	33	,	,	PUNCT
dem-8594	269	34	2008	2008	NUM
dem-8594	269	35	to	to	ADP
dem-8594	269	36	october	october	PROPN
dem-8594	269	37	10th	10th	NOUN
dem-8594	269	38	,	,	PUNCT
dem-8594	269	39	2014	2014	NUM
dem-8594	269	40	(	(	PUNCT
dem-8594	269	41	1851	1851	NUM
dem-8594	269	42	observation	observation	NOUN
dem-8594	269	43	)	)	PUNCT
dem-8594	269	44	for	for	ADP
dem-8594	269	45	oil	oil	NOUN
dem-8594	269	46	.	.	PUNCT
dem-8594	270	1	as	as	ADP
dem-8594	270	2	an	an	DET
dem-8594	270	3	implied	imply	VERB
dem-8594	270	4	volatility	volatility	NOUN
dem-8594	270	5	we	we	PRON
dem-8594	270	6	used	use	VERB
dem-8594	270	7	cboe	cboe	PROPN
dem-8594	270	8	gold	gold	NOUN
dem-8594	270	9	volatility	volatility	NOUN
dem-8594	270	10	index	index	NOUN
dem-8594	270	11	and	and	CCONJ
dem-8594	270	12	cboe	cboe	PROPN
dem-8594	270	13	crude	crude	ADJ
dem-8594	270	14	oil	oil	NOUN
dem-8594	270	15	volatility	volatility	NOUN
dem-8594	270	16	index	index	NOUN
dem-8594	270	17	(	(	PUNCT
dem-8594	270	18	)	)	PUNCT
dem-8594	270	19	implied	imply	VERB
dem-8594	270	20	tσ	tσ	X
dem-8594	270	21	.	.	PUNCT
dem-8594	271	1	the	the	DET
dem-8594	271	2	indices	index	NOUN
dem-8594	271	3	measure	measure	VERB
dem-8594	271	4	the	the	DET
dem-8594	271	5	market	market	NOUN
dem-8594	271	6	's	's	PART
dem-8594	271	7	expectation	expectation	NOUN
dem-8594	271	8	of	of	ADP
dem-8594	271	9	volatility	volatility	NOUN
dem-8594	271	10	implicit	implicit	ADJ
dem-8594	271	11	in	in	ADP
dem-8594	271	12	the	the	DET
dem-8594	271	13	prices	price	NOUN
dem-8594	271	14	of	of	ADP
dem-8594	271	15	options	option	NOUN
dem-8594	271	16	.	.	PUNCT
dem-8594	272	1	the	the	DET
dem-8594	272	2	indices	index	NOUN
dem-8594	272	3	are	be	AUX
dem-8594	272	4	leading	lead	VERB
dem-8594	272	5	barometers	barometer	NOUN
dem-8594	272	6	of	of	ADP
dem-8594	272	7	investor	investor	NOUN
dem-8594	272	8	risk	risk	NOUN
dem-8594	272	9	modeling	modeling	NOUN
dem-8594	272	10	of	of	ADP
dem-8594	272	11	commodities	commodity	NOUN
dem-8594	272	12	using	use	VERB
dem-8594	272	13	caviar	caviar	NOUN
dem-8594	272	14	models	model	NOUN
dem-8594	272	15	…	…	PUNCT
dem-8594	272	16	dynamic	dynamic	ADJ
dem-8594	272	17	econometric	econometric	ADJ
dem-8594	272	18	models	model	NOUN
dem-8594	272	19	15	15	NUM
dem-8594	272	20	(	(	PUNCT
dem-8594	272	21	2015	2015	NUM
dem-8594	272	22	)	)	PUNCT
dem-8594	272	23	129–156	129–156	NUM
dem-8594	272	24	145	145	NUM
dem-8594	272	25	sentiment	sentiment	NOUN
dem-8594	272	26	and	and	CCONJ
dem-8594	272	27	market	market	NOUN
dem-8594	272	28	volatility	volatility	NOUN
dem-8594	272	29	relating	relate	VERB
dem-8594	272	30	to	to	ADP
dem-8594	272	31	listed	list	VERB
dem-8594	272	32	options	option	NOUN
dem-8594	272	33	on	on	ADP
dem-8594	272	34	an	an	DET
dem-8594	272	35	instrument	instrument	NOUN
dem-8594	272	36	with	with	ADP
dem-8594	272	37	different	different	ADJ
dem-8594	272	38	strike	strike	NOUN
dem-8594	272	39	prices	price	NOUN
dem-8594	272	40	,	,	PUNCT
dem-8594	272	41	at	at	ADP
dem-8594	272	42	the	the	DET
dem-8594	272	43	money	money	NOUN
dem-8594	272	44	(	(	PUNCT
dem-8594	272	45	atm	atm	NOUN
dem-8594	272	46	)	)	PUNCT
dem-8594	272	47	and	and	CCONJ
dem-8594	272	48	out	out	ADP
dem-8594	272	49	of	of	ADP
dem-8594	272	50	the	the	DET
dem-8594	272	51	money	money	NOUN
dem-8594	272	52	(	(	PUNCT
dem-8594	272	53	otm	otm	NOUN
dem-8594	272	54	)	)	PUNCT
dem-8594	272	55	,	,	PUNCT
dem-8594	272	56	which	which	PRON
dem-8594	272	57	are	be	AUX
dem-8594	272	58	then	then	ADV
dem-8594	272	59	averaged	average	VERB
dem-8594	272	60	to	to	PART
dem-8594	272	61	provide	provide	VERB
dem-8594	272	62	hypothetical	hypothetical	ADJ
dem-8594	272	63	price	price	NOUN
dem-8594	272	64	of	of	ADP
dem-8594	272	65	atm	atm	ADJ
dem-8594	272	66	options	option	NOUN
dem-8594	272	67	with	with	ADP
dem-8594	272	68	a	a	DET
dem-8594	272	69	maturity	maturity	NOUN
dem-8594	272	70	of	of	ADP
dem-8594	272	71	one	one	NUM
dem-8594	272	72	month	month	NOUN
dem-8594	272	73	(	(	PUNCT
dem-8594	272	74	22	22	NUM
dem-8594	272	75	days	day	NOUN
dem-8594	272	76	business	business	NOUN
dem-8594	272	77	)	)	PUNCT
dem-8594	272	78	.	.	PUNCT
dem-8594	273	1	daily	daily	ADJ
dem-8594	273	2	volatility	volatility	NOUN
dem-8594	273	3	is	be	AUX
dem-8594	273	4	calculated	calculate	VERB
dem-8594	273	5	using	use	VERB
dem-8594	273	6	scaling	scale	VERB
dem-8594	273	7	rule	rule	NOUN
dem-8594	273	8	:	:	PUNCT
dem-8594	273	9	.252=	.252=	PROPN
dem-8594	273	10	1252	1252	NUM
dem-8594	273	11	impliedimplied	impliedimplie	VERB
dem-8594	273	12	σσ	σσ	ADP
dem-8594	273	13	table	table	NOUN
dem-8594	273	14	1	1	NUM
dem-8594	273	15	.	.	PUNCT
dem-8594	273	16	descriptive	descriptive	ADJ
dem-8594	273	17	statistics	statistic	NOUN
dem-8594	273	18	instrument	instrument	PROPN
dem-8594	273	19	median	median	PROPN
dem-8594	273	20	mean	mean	VERB
dem-8594	273	21	std	std	X
dem-8594	273	22	minimum	minimum	ADJ
dem-8594	273	23	maximum	maximum	ADJ
dem-8594	273	24	skewness	skewness	NOUN
dem-8594	273	25	kurtosis	kurtosis	VERB
dem-8594	273	26	deviation	deviation	NOUN
dem-8594	273	27	gold	gold	NOUN
dem-8594	273	28	0.0005	0.0005	NUM
dem-8594	273	29	0.0002	0.0002	NUM
dem-8594	273	30	0.0127	0.0127	NUM
dem-8594	273	31	–	–	PUNCT
dem-8594	273	32	0.0888	0.0888	NUM
dem-8594	273	33	0.1044	0.1044	NUM
dem-8594	273	34	–	–	PUNCT
dem-8594	273	35	0.2497	0.2497	NUM
dem-8594	273	36	10.0226	10.0226	NUM
dem-8594	273	37	oil	oil	NOUN
dem-8594	273	38	0.0008	0.0008	NUM
dem-8594	273	39	0.0002	0.0002	NUM
dem-8594	273	40	0.0239	0.0239	NUM
dem-8594	273	41	–	–	PUNCT
dem-8594	273	42	0.1274	0.1274	NUM
dem-8594	273	43	0.1503	0.1503	NUM
dem-8594	273	44	0.0379	0.0379	NUM
dem-8594	273	45	9.0206	9.0206	NUM
dem-8594	273	46	table	table	NOUN
dem-8594	273	47	2	2	NUM
dem-8594	273	48	.	.	PUNCT
dem-8594	274	1	the	the	DET
dem-8594	274	2	lomnicki	lomnicki	NOUN
dem-8594	274	3	-	-	PUNCT
dem-8594	274	4	jarque	jarque	NOUN
dem-8594	274	5	-	-	PUNCT
dem-8594	274	6	bera	bera	NOUN
dem-8594	274	7	test	test	NOUN
dem-8594	274	8	results	result	NOUN
dem-8594	274	9	instrument	instrument	VERB
dem-8594	274	10	statistics	statistic	NOUN
dem-8594	274	11	p	p	ADJ
dem-8594	274	12	-	-	PUNCT
dem-8594	274	13	value	value	NOUN
dem-8594	274	14	gold	gold	NOUN
dem-8594	274	15	24.5934	24.5934	NUM
dem-8594	274	16	0.2174	0.2174	NUM
dem-8594	274	17	oil	oil	NOUN
dem-8594	274	18	83.5494	83.5494	NUM
dem-8594	274	19	0.0000	0.0000	NUM
dem-8594	274	20	table	table	NOUN
dem-8594	274	21	3	3	NUM
dem-8594	274	22	.	.	PUNCT
dem-8594	275	1	the	the	DET
dem-8594	275	2	ljung	ljung	PROPN
dem-8594	275	3	-	-	PUNCT
dem-8594	275	4	box	box	NOUN
dem-8594	275	5	test	test	NOUN
dem-8594	275	6	results	result	NOUN
dem-8594	275	7	lags	lag	VERB
dem-8594	275	8	10	10	NUM
dem-8594	275	9	15	15	NUM
dem-8594	275	10	20	20	NUM
dem-8594	275	11	instrument	instrument	NOUN
dem-8594	275	12	statistics	statistic	NOUN
dem-8594	275	13	p	p	ADJ
dem-8594	275	14	-	-	PUNCT
dem-8594	275	15	value	value	NOUN
dem-8594	275	16	statistics	statistic	NOUN
dem-8594	275	17	p	p	ADJ
dem-8594	275	18	-	-	PUNCT
dem-8594	275	19	value	value	NOUN
dem-8594	275	20	statistics	statistic	NOUN
dem-8594	275	21	p	p	ADJ
dem-8594	275	22	-	-	PUNCT
dem-8594	275	23	value	value	NOUN
dem-8594	275	24	gold	gold	NOUN
dem-8594	275	25	13.7835	13.7835	NUM
dem-8594	275	26	0.1831	0.1831	NUM
dem-8594	275	27	22.9158	22.9158	NUM
dem-8594	275	28	0.0859	0.0859	NUM
dem-8594	275	29	24.5934	24.5934	NUM
dem-8594	275	30	0.2174	0.2174	NUM
dem-8594	275	31	oil	oil	NOUN
dem-8594	275	32	46.6134	46.6134	NUM
dem-8594	275	33	0.0000	0.0000	NUM
dem-8594	275	34	74.5049	74.5049	NUM
dem-8594	275	35	0.0000	0.0000	NUM
dem-8594	275	36	83.5494	83.5494	NUM
dem-8594	275	37	0.0000	0.0000	NUM
dem-8594	275	38	table	table	NOUN
dem-8594	275	39	4	4	NUM
dem-8594	275	40	.	.	PUNCT
dem-8594	276	1	the	the	DET
dem-8594	276	2	engle	engle	PROPN
dem-8594	276	3	test	test	NOUN
dem-8594	276	4	results	result	NOUN
dem-8594	276	5	lags	lag	VERB
dem-8594	276	6	10	10	NUM
dem-8594	276	7	15	15	NUM
dem-8594	276	8	20	20	NUM
dem-8594	276	9	instrument	instrument	NOUN
dem-8594	276	10	statistics	statistic	NOUN
dem-8594	276	11	p	p	ADJ
dem-8594	276	12	-	-	PUNCT
dem-8594	276	13	value	value	NOUN
dem-8594	276	14	statistics	statistic	NOUN
dem-8594	276	15	p	p	ADJ
dem-8594	276	16	-	-	PUNCT
dem-8594	276	17	value	value	NOUN
dem-8594	276	18	statistics	statistic	NOUN
dem-8594	276	19	p	p	ADJ
dem-8594	276	20	-	-	PUNCT
dem-8594	276	21	value	value	NOUN
dem-8594	276	22	gold	gold	NOUN
dem-8594	276	23	89.3389	89.3389	NUM
dem-8594	276	24	0.0000	0.0000	NUM
dem-8594	276	25	105.6773	105.6773	NUM
dem-8594	276	26	0.0000	0.0000	NUM
dem-8594	276	27	148.0272	148.0272	NUM
dem-8594	276	28	0.0000	0.0000	NUM
dem-8594	276	29	oil	oil	NOUN
dem-8594	276	30	413.6957	413.6957	NUM
dem-8594	276	31	0.0000	0.0000	NUM
dem-8594	276	32	488.4326	488.4326	NUM
dem-8594	276	33	0.0000	0.0000	NUM
dem-8594	276	34	522.1252	522.1252	NUM
dem-8594	276	35	0.0000	0.0000	NUM
dem-8594	276	36	table	table	NOUN
dem-8594	276	37	5	5	NUM
dem-8594	276	38	.	.	PUNCT
dem-8594	277	1	the	the	DET
dem-8594	277	2	mcleod	mcleod	PROPN
dem-8594	277	3	-	-	PUNCT
dem-8594	277	4	li	li	PROPN
dem-8594	277	5	test	test	NOUN
dem-8594	277	6	results	result	NOUN
dem-8594	277	7	lags	lag	VERB
dem-8594	277	8	10	10	NUM
dem-8594	277	9	15	15	NUM
dem-8594	277	10	20	20	NUM
dem-8594	277	11	instrument	instrument	NOUN
dem-8594	277	12	statistics	statistic	NOUN
dem-8594	277	13	p	p	ADJ
dem-8594	277	14	-	-	PUNCT
dem-8594	277	15	value	value	NOUN
dem-8594	277	16	statistics	statistic	NOUN
dem-8594	277	17	p	p	ADJ
dem-8594	277	18	-	-	PUNCT
dem-8594	277	19	value	value	NOUN
dem-8594	277	20	statistics	statistic	NOUN
dem-8594	277	21	p	p	ADJ
dem-8594	277	22	-	-	PUNCT
dem-8594	277	23	value	value	NOUN
dem-8594	277	24	gold	gold	NOUN
dem-8594	277	25	150.8873	150.8873	NUM
dem-8594	277	26	0.0000	0.0000	NUM
dem-8594	277	27	207.7756	207.7756	NUM
dem-8594	277	28	0.0000	0.0000	NUM
dem-8594	277	29	303.2220	303.2220	NUM
dem-8594	277	30	0.0000	0.0000	NUM
dem-8594	277	31	oil	oil	NOUN
dem-8594	277	32	1	1	NUM
dem-8594	277	33	300.5209	300.5209	NUM
dem-8594	277	34	0.0000	0.0000	NUM
dem-8594	277	35	1	1	NUM
dem-8594	277	36	908.8351	908.8351	NUM
dem-8594	277	37	0.0000	0.0000	NUM
dem-8594	277	38	2	2	NUM
dem-8594	277	39	553.6536	553.6536	NUM
dem-8594	277	40	0.0000	0.0000	NUM
dem-8594	277	41	the	the	DET
dem-8594	277	42	time	time	NOUN
dem-8594	277	43	series	series	NOUN
dem-8594	277	44	of	of	ADP
dem-8594	277	45	the	the	DET
dem-8594	277	46	quotations	quotation	NOUN
dem-8594	277	47	,	,	PUNCT
dem-8594	277	48	prices	price	NOUN
dem-8594	277	49	and	and	CCONJ
dem-8594	277	50	rates	rate	NOUN
dem-8594	277	51	of	of	ADP
dem-8594	277	52	return	return	NOUN
dem-8594	277	53	were	be	AUX
dem-8594	277	54	checked	check	VERB
dem-8594	277	55	for	for	ADP
dem-8594	277	56	the	the	DET
dem-8594	277	57	presence	presence	NOUN
dem-8594	277	58	of	of	ADP
dem-8594	277	59	the	the	DET
dem-8594	277	60	following	follow	VERB
dem-8594	277	61	features	feature	NOUN
dem-8594	277	62	:	:	PUNCT
dem-8594	277	63	fatter	fat	ADJ
dem-8594	277	64	tails	tail	NOUN
dem-8594	277	65	than	than	ADP
dem-8594	277	66	in	in	ADP
dem-8594	277	67	the	the	DET
dem-8594	277	68	normal	normal	ADJ
dem-8594	277	69	distribution	distribution	NOUN
dem-8594	277	70	(	(	PUNCT
dem-8594	277	71	identified	identify	VERB
dem-8594	277	72	on	on	ADP
dem-8594	277	73	the	the	DET
dem-8594	277	74	basis	basis	NOUN
dem-8594	277	75	of	of	ADP
dem-8594	277	76	the	the	DET
dem-8594	277	77	quantile	quantile	ADJ
dem-8594	277	78	-	-	PUNCT
dem-8594	277	79	quantile	quantile	NOUN
dem-8594	277	80	plots	plot	NOUN
dem-8594	277	81	,	,	PUNCT
dem-8594	277	82	histograms	histogram	NOUN
dem-8594	277	83	and	and	CCONJ
dem-8594	277	84	the	the	DET
dem-8594	277	85	lomnicki	lomnicki	NOUN
dem-8594	277	86	-	-	PUNCT
dem-8594	277	87	jarque	jarque	NOUN
dem-8594	277	88	-	-	PUNCT
dem-8594	277	89	bera	bera	NOUN
dem-8594	277	90	test	test	NOUN
dem-8594	277	91	)	)	PUNCT
dem-8594	277	92	;	;	PUNCT
dem-8594	278	1	stationarity	stationarity	NOUN
dem-8594	278	2	;	;	PUNCT
dem-8594	278	3	autocorrelation	autocorrelation	NOUN
dem-8594	278	4	of	of	ADP
dem-8594	278	5	the	the	DET
dem-8594	278	6	rates	rate	NOUN
dem-8594	278	7	of	of	ADP
dem-8594	278	8	returns	return	NOUN
dem-8594	278	9	(	(	PUNCT
dem-8594	278	10	checked	check	VERB
dem-8594	278	11	with	with	ADP
dem-8594	278	12	the	the	DET
dem-8594	278	13	ljung	ljung	ADJ
dem-8594	278	14	-	-	PUNCT
dem-8594	278	15	box	box	NOUN
dem-8594	278	16	test	test	NOUN
dem-8594	278	17	)	)	PUNCT
dem-8594	278	18	;	;	PUNCT
dem-8594	278	19	skewness	skewness	NOUN
dem-8594	278	20	,	,	PUNCT
dem-8594	278	21	kurtosis	kurtosis	NOUN
dem-8594	278	22	of	of	ADP
dem-8594	278	23	rates	rate	NOUN
dem-8594	278	24	of	of	ADP
dem-8594	278	25	return	return	NOUN
dem-8594	278	26	.	.	PUNCT
dem-8594	279	1	the	the	DET
dem-8594	279	2	rate	rate	NOUN
dem-8594	279	3	of	of	ADP
dem-8594	279	4	returns	return	NOUN
dem-8594	279	5	have	have	VERB
dem-8594	279	6	high	high	ADJ
dem-8594	279	7	degrees	degree	NOUN
dem-8594	279	8	of	of	ADP
dem-8594	279	9	kurtosis	kurtosis	NOUN
dem-8594	279	10	,	,	PUNCT
dem-8594	279	11	a	a	DET
dem-8594	279	12	negative	negative	ADJ
dem-8594	279	13	skewness	skewness	NOUN
dem-8594	279	14	is	be	AUX
dem-8594	279	15	evident	evident	ADJ
dem-8594	279	16	in	in	ADP
dem-8594	279	17	case	case	NOUN
dem-8594	279	18	of	of	ADP
dem-8594	279	19	gold	gold	NOUN
dem-8594	279	20	.	.	PUNCT
dem-8594	280	1	the	the	DET
dem-8594	280	2	oil	oil	NOUN
dem-8594	280	3	time	time	NOUN
dem-8594	280	4	series	series	NOUN
dem-8594	280	5	is	be	AUX
dem-8594	280	6	characterised	characterise	VERB
dem-8594	280	7	by	by	ADP
dem-8594	280	8	positive	positive	ADJ
dem-8594	280	9	skewness	skewness	NOUN
dem-8594	280	10	.	.	PUNCT
dem-8594	281	1	the	the	DET
dem-8594	281	2	lomnicki	lomnicki	NOUN
dem-8594	281	3	-	-	PUNCT
dem-8594	281	4	jarque	jarque	NOUN
dem-8594	281	5	-	-	PUNCT
dem-8594	281	6	bera	bera	NOUN
dem-8594	281	7	test	test	NOUN
dem-8594	281	8	rejects	reject	VERB
dem-8594	281	9	normality	normality	NOUN
dem-8594	281	10	at	at	ADP
dem-8594	281	11	the	the	DET
dem-8594	281	12	5%-level	5%-level	PROPN
dem-8594	281	13	ewa	ewa	PROPN
dem-8594	281	14	ratuszny	ratuszny	VERB
dem-8594	281	15	dynamic	dynamic	ADJ
dem-8594	281	16	econometric	econometric	ADJ
dem-8594	281	17	models	model	NOUN
dem-8594	281	18	15	15	NUM
dem-8594	281	19	(	(	PUNCT
dem-8594	281	20	2015	2015	NUM
dem-8594	281	21	)	)	PUNCT
dem-8594	281	22	129–156	129–156	NUM
dem-8594	281	23	146	146	NUM
dem-8594	281	24	in	in	ADP
dem-8594	281	25	case	case	NOUN
dem-8594	281	26	of	of	ADP
dem-8594	281	27	oil	oil	NOUN
dem-8594	281	28	.	.	PUNCT
dem-8594	282	1	the	the	DET
dem-8594	282	2	standard	standard	ADJ
dem-8594	282	3	deviation	deviation	NOUN
dem-8594	282	4	of	of	ADP
dem-8594	282	5	the	the	DET
dem-8594	282	6	rate	rate	NOUN
dem-8594	282	7	of	of	ADP
dem-8594	282	8	returns	return	NOUN
dem-8594	282	9	is	be	AUX
dem-8594	282	10	the	the	DET
dem-8594	282	11	highest	high	ADJ
dem-8594	282	12	in	in	ADP
dem-8594	282	13	the	the	DET
dem-8594	282	14	case	case	NOUN
dem-8594	282	15	of	of	ADP
dem-8594	282	16	oil	oil	NOUN
dem-8594	282	17	.	.	PUNCT
dem-8594	283	1	the	the	DET
dem-8594	283	2	q	q	PROPN
dem-8594	283	3	test	test	NOUN
dem-8594	283	4	ljung	ljung	PROPN
dem-8594	283	5	-	-	PUNCT
dem-8594	283	6	box	box	NOUN
dem-8594	283	7	in	in	ADP
dem-8594	283	8	case	case	NOUN
dem-8594	283	9	of	of	ADP
dem-8594	283	10	oil	oil	NOUN
dem-8594	283	11	indicates	indicate	VERB
dem-8594	283	12	autocorrelation	autocorrelation	NOUN
dem-8594	283	13	.	.	PUNCT
dem-8594	284	1	the	the	DET
dem-8594	284	2	engle	engle	PROPN
dem-8594	284	3	and	and	CCONJ
dem-8594	284	4	mcleod	mcleod	PROPN
dem-8594	284	5	-	-	PUNCT
dem-8594	284	6	li	li	PROPN
dem-8594	284	7	test	test	NOUN
dem-8594	284	8	confirms	confirm	VERB
dem-8594	284	9	the	the	DET
dem-8594	284	10	existence	existence	NOUN
dem-8594	284	11	of	of	ADP
dem-8594	284	12	a	a	DET
dem-8594	284	13	strong	strong	ADJ
dem-8594	284	14	and	and	CCONJ
dem-8594	284	15	permanent	permanent	ADJ
dem-8594	284	16	nonlinear	nonlinear	ADJ
dem-8594	284	17	dependence	dependence	NOUN
dem-8594	284	18	.	.	PUNCT
dem-8594	285	1	table	table	NOUN
dem-8594	285	2	6	6	NUM
dem-8594	285	3	.	.	PUNCT
dem-8594	286	1	gold	gold	NOUN
dem-8594	286	2	.	.	PUNCT
dem-8594	287	1	estimated	estimate	VERB
dem-8594	287	2	parameters	parameter	NOUN
dem-8594	287	3	of	of	ADP
dem-8594	287	4	caviar	caviar	PROPN
dem-8594	287	5	and	and	CCONJ
dem-8594	287	6	caviar	caviar	NOUN
dem-8594	287	7	-	-	PUNCT
dem-8594	287	8	plugin	plugin	NOUN
dem-8594	287	9	models	model	NOUN
dem-8594	287	10	model	model	PROPN
dem-8594	287	11	parametr	parametr	PROPN
dem-8594	287	12	caviar	caviar	PROPN
dem-8594	287	13	plugin	plugin	PROPN
dem-8594	287	14	long	long	ADJ
dem-8594	287	15	position	position	NOUN
dem-8594	287	16	short	short	ADJ
dem-8594	287	17	position	position	NOUN
dem-8594	287	18	long	long	ADJ
dem-8594	287	19	position	position	NOUN
dem-8594	287	20	short	short	ADJ
dem-8594	287	21	position	position	NOUN
dem-8594	287	22	0.01	0.01	NUM
dem-8594	287	23	0.05	0.05	NUM
dem-8594	287	24	0.01	0.01	NUM
dem-8594	287	25	0.05	0.05	NUM
dem-8594	287	26	0.01	0.01	NUM
dem-8594	287	27	0.05	0.05	NUM
dem-8594	287	28	0.01	0.01	NUM
dem-8594	287	29	0.05	0.05	NUM
dem-8594	287	30	sav	sav	NOUN
dem-8594	287	31	1β	1β	NUM
dem-8594	287	32	0.00041	0.00041	NUM
dem-8594	287	33	0.00008	0.00008	NUM
dem-8594	287	34	0.00037	0.00037	NUM
dem-8594	287	35	0.00025	0.00025	NUM
dem-8594	287	36	–	–	PUNCT
dem-8594	287	37	0.00223	0.00223	NUM
dem-8594	287	38	–	–	PUNCT
dem-8594	287	39	0.00414	0.00414	NUM
dem-8594	287	40	–	–	PUNCT
dem-8594	287	41	0.00156	0.00156	NUM
dem-8594	287	42	–	–	PUNCT
dem-8594	287	43	0.00271	0.00271	NUM
dem-8594	287	44	(	(	PUNCT
dem-8594	287	45	0.0004	0.0004	NUM
dem-8594	287	46	)	)	PUNCT
dem-8594	287	47	(	(	PUNCT
dem-8594	287	48	0.0002	0.0002	NUM
dem-8594	287	49	)	)	PUNCT
dem-8594	287	50	(	(	PUNCT
dem-8594	287	51	0.0004	0.0004	NUM
dem-8594	287	52	)	)	PUNCT
dem-8594	287	53	(	(	PUNCT
dem-8594	287	54	0.0002	0.0002	NUM
dem-8594	287	55	)	)	PUNCT
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dem-8594	287	62	(	(	PUNCT
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dem-8594	287	103	3β	3β	NUM
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dem-8594	288	2	0.11934	0.11934	NUM
dem-8594	289	1	0.10555	0.10555	NUM
dem-8594	289	2	0.07401	0.07401	NUM
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dem-8594	289	7	–	–	PUNCT
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dem-8594	289	26	)	)	PUNCT
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dem-8594	289	29	)	)	PUNCT
dem-8594	289	30	(	(	PUNCT
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dem-8594	289	32	)	)	PUNCT
dem-8594	289	33	iqβ	iqβ	VERB
dem-8594	289	34	1.47378	1.47378	NUM
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dem-8594	290	2	0.64168	0.64168	NUM
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dem-8594	290	4	(	(	PUNCT
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dem-8594	290	6	)	)	PUNCT
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dem-8594	290	9	)	)	PUNCT
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dem-8594	290	15	)	)	PUNCT
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dem-8594	290	17	1β	1β	NUM
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dem-8594	290	22	–	–	SYM
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dem-8594	290	24	–	–	PUNCT
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dem-8594	290	26	–	–	PUNCT
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dem-8594	290	28	–	–	PUNCT
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dem-8594	290	30	(	(	PUNCT
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dem-8594	290	35	)	)	PUNCT
dem-8594	290	36	(	(	PUNCT
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dem-8594	290	38	)	)	PUNCT
dem-8594	290	39	(	(	PUNCT
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dem-8594	290	41	)	)	PUNCT
dem-8594	290	42	(	(	PUNCT
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dem-8594	290	44	)	)	PUNCT
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dem-8594	290	50	)	)	PUNCT
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dem-8594	290	53	)	)	PUNCT
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dem-8594	290	87	)	)	PUNCT
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dem-8594	290	90	0.13757	0.13757	NUM
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dem-8594	290	124	)	)	PUNCT
dem-8594	290	125	4β	4β	NOUN
dem-8594	290	126	–	–	PUNCT
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dem-8594	290	215	)	)	PUNCT
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dem-8594	290	328	0.0546	0.0546	NUM
dem-8594	290	329	)	)	PUNCT
dem-8594	290	330	(	(	PUNCT
dem-8594	290	331	0.1450	0.1450	NUM
dem-8594	290	332	)	)	PUNCT
dem-8594	290	333	(	(	PUNCT
dem-8594	290	334	0.0470	0.0470	NUM
dem-8594	290	335	)	)	PUNCT
dem-8594	290	336	(	(	PUNCT
dem-8594	290	337	0.0470	0.0470	NUM
dem-8594	290	338	)	)	PUNCT
dem-8594	290	339	2β	2β	NOUN
dem-8594	290	340	0.01650	0.01650	NUM
dem-8594	290	341	0.56209	0.56209	NUM
dem-8594	290	342	–	–	PUNCT
dem-8594	291	1	0.34653	0.34653	NUM
dem-8594	291	2	0.42903	0.42903	NUM
dem-8594	291	3	(	(	PUNCT
dem-8594	291	4	0.2477	0.2477	NUM
dem-8594	291	5	)	)	PUNCT
dem-8594	291	6	(	(	PUNCT
dem-8594	291	7	1.0987	1.0987	NUM
dem-8594	291	8	)	)	PUNCT
dem-8594	291	9	(	(	PUNCT
dem-8594	291	10	0.3483	0.3483	NUM
dem-8594	291	11	)	)	PUNCT
dem-8594	291	12	(	(	PUNCT
dem-8594	291	13	0.9800	0.9800	NUM
dem-8594	291	14	)	)	PUNCT
dem-8594	291	15	3β	3β	NOUN
dem-8594	291	16	0.11134	0.11134	NUM
dem-8594	291	17	0.08988	0.08988	NUM
dem-8594	291	18	–	–	PUNCT
dem-8594	291	19	0.12186	0.12186	NUM
dem-8594	291	20	–	–	PUNCT
dem-8594	291	21	0.01272	0.01272	NUM
dem-8594	291	22	(	(	PUNCT
dem-8594	291	23	0.0232	0.0232	NUM
dem-8594	291	24	)	)	PUNCT
dem-8594	291	25	(	(	PUNCT
dem-8594	291	26	0.0000	0.0000	NUM
dem-8594	291	27	)	)	PUNCT
dem-8594	291	28	(	(	PUNCT
dem-8594	291	29	0.0018	0.0018	NUM
dem-8594	291	30	)	)	PUNCT
dem-8594	291	31	(	(	PUNCT
dem-8594	291	32	0.0000	0.0000	NUM
dem-8594	291	33	)	)	PUNCT
dem-8594	291	34	iqβ	iqβ	VERB
dem-8594	291	35	1.36557	1.36557	NUM
dem-8594	291	36	0.84537	0.84537	NUM
dem-8594	291	37	1.53685	1.53685	NUM
dem-8594	291	38	0.61808	0.61808	NUM
dem-8594	291	39	(	(	PUNCT
dem-8594	291	40	0.0546	0.0546	NUM
dem-8594	291	41	)	)	PUNCT
dem-8594	291	42	(	(	PUNCT
dem-8594	291	43	0.1540	0.1540	NUM
dem-8594	291	44	)	)	PUNCT
dem-8594	291	45	(	(	PUNCT
dem-8594	291	46	0.0677	0.0677	NUM
dem-8594	291	47	)	)	PUNCT
dem-8594	291	48	(	(	PUNCT
dem-8594	291	49	0.1400	0.1400	NUM
dem-8594	291	50	)	)	PUNCT
dem-8594	291	51	note	note	NOUN
dem-8594	291	52	:	:	PUNCT
dem-8594	291	53	0.01	0.01	NUM
dem-8594	291	54	;	;	PUNCT
dem-8594	291	55	0.05	0.05	NUM
dem-8594	291	56	–	–	PUNCT
dem-8594	291	57	α	α	NUM
dem-8594	291	58	-	-	PUNCT
dem-8594	291	59	significance	significance	NOUN
dem-8594	291	60	level	level	NOUN
dem-8594	291	61	of	of	ADP
dem-8594	291	62	var	var	NOUN
dem-8594	291	63	;	;	PUNCT
dem-8594	291	64	standard	standard	ADJ
dem-8594	291	65	errors	error	NOUN
dem-8594	291	66	in	in	ADP
dem-8594	291	67	bracktes	bracktes	PROPN
dem-8594	291	68	;	;	PUNCT
dem-8594	291	69	bolded	bolde	VERB
dem-8594	291	70	values	value	NOUN
dem-8594	291	71	indicate	indicate	VERB
dem-8594	291	72	significant	significant	ADJ
dem-8594	291	73	parameters	parameter	NOUN
dem-8594	291	74	according	accord	VERB
dem-8594	291	75	to	to	ADP
dem-8594	291	76	t	t	PROPN
dem-8594	291	77	statistics	statistic	NOUN
dem-8594	291	78	.	.	PUNCT
dem-8594	292	1	risk	risk	NOUN
dem-8594	292	2	modeling	modeling	NOUN
dem-8594	292	3	of	of	ADP
dem-8594	292	4	commodities	commodity	NOUN
dem-8594	292	5	using	use	VERB
dem-8594	292	6	caviar	caviar	NOUN
dem-8594	292	7	models	model	NOUN
dem-8594	292	8	…	…	PUNCT
dem-8594	292	9	dynamic	dynamic	ADJ
dem-8594	292	10	econometric	econometric	ADJ
dem-8594	292	11	models	model	NOUN
dem-8594	292	12	15	15	NUM
dem-8594	292	13	(	(	PUNCT
dem-8594	292	14	2015	2015	NUM
dem-8594	292	15	)	)	PUNCT
dem-8594	292	16	129–156	129–156	NUM
dem-8594	292	17	147	147	NUM
dem-8594	292	18	6.2	6.2	NUM
dem-8594	292	19	.	.	PUNCT
dem-8594	293	1	empirical	empirical	ADJ
dem-8594	293	2	research	research	NOUN
dem-8594	293	3	we	we	PRON
dem-8594	293	4	perform	perform	VERB
dem-8594	293	5	estimation	estimation	NOUN
dem-8594	293	6	of	of	ADP
dem-8594	293	7	caviar	caviar	NOUN
dem-8594	293	8	models	model	NOUN
dem-8594	293	9	(	(	PUNCT
dem-8594	293	10	equations	equation	NOUN
dem-8594	293	11	(	(	PUNCT
dem-8594	293	12	3)–(9	3)–(9	NUM
dem-8594	293	13	)	)	PUNCT
dem-8594	293	14	)	)	PUNCT
dem-8594	293	15	,	,	PUNCT
dem-8594	293	16	implied	imply	VERB
dem-8594	293	17	quantile	quantile	ADJ
dem-8594	293	18	model	model	NOUN
dem-8594	293	19	(	(	PUNCT
dem-8594	293	20	equations	equation	NOUN
dem-8594	293	21	(	(	PUNCT
dem-8594	293	22	12)–(13	12)–(13	NUM
dem-8594	293	23	)	)	PUNCT
dem-8594	293	24	)	)	PUNCT
dem-8594	293	25	,	,	PUNCT
dem-8594	293	26	encompassing	encompass	VERB
dem-8594	293	27	method	method	NOUN
dem-8594	293	28	(	(	PUNCT
dem-8594	293	29	equations	equation	NOUN
dem-8594	293	30	(	(	PUNCT
dem-8594	293	31	14)–(21	14)–(21	NUM
dem-8594	293	32	)	)	PUNCT
dem-8594	293	33	)	)	PUNCT
dem-8594	293	34	and	and	CCONJ
dem-8594	293	35	combining	combine	VERB
dem-8594	293	36	method	method	NOUN
dem-8594	293	37	of	of	ADP
dem-8594	293	38	forecast	forecast	NOUN
dem-8594	293	39	(	(	PUNCT
dem-8594	293	40	equations	equation	NOUN
dem-8594	293	41	(	(	PUNCT
dem-8594	293	42	22)–(27	22)–(27	NUM
dem-8594	293	43	)	)	PUNCT
dem-8594	293	44	)	)	PUNCT
dem-8594	293	45	.	.	PUNCT
dem-8594	294	1	we	we	PRON
dem-8594	294	2	use	use	VERB
dem-8594	294	3	1093	1093	NUM
dem-8594	294	4	periods	period	NOUN
dem-8594	294	5	for	for	ADP
dem-8594	294	6	gold	gold	NOUN
dem-8594	294	7	and	and	CCONJ
dem-8594	294	8	1350	1350	NUM
dem-8594	294	9	periods	period	NOUN
dem-8594	294	10	for	for	SCONJ
dem-8594	294	11	oil	oil	NOUN
dem-8594	294	12	to	to	PART
dem-8594	294	13	estimate	estimate	VERB
dem-8594	294	14	parameters	parameter	NOUN
dem-8594	294	15	(	(	PUNCT
dem-8594	294	16	insample	insample	NOUN
dem-8594	294	17	)	)	PUNCT
dem-8594	294	18	and	and	CCONJ
dem-8594	294	19	500	500	NUM
dem-8594	294	20	periods	period	NOUN
dem-8594	294	21	for	for	ADP
dem-8594	294	22	post	post	ADJ
dem-8594	294	23	-	-	ADJ
dem-8594	294	24	sample	sample	ADJ
dem-8594	294	25	evaluation	evaluation	NOUN
dem-8594	294	26	of	of	ADP
dem-8594	294	27	day	day	NOUN
dem-8594	294	28	-	-	PUNCT
dem-8594	294	29	ahead	ahead	NOUN
dem-8594	294	30	quantile	quantile	ADJ
dem-8594	294	31	estimates	estimate	NOUN
dem-8594	294	32	using	use	VERB
dem-8594	294	33	rolling	rolling	NOUN
dem-8594	294	34	window	window	NOUN
dem-8594	294	35	.	.	PUNCT
dem-8594	295	1	for	for	ADP
dem-8594	295	2	both	both	DET
dem-8594	295	3	instruments	instrument	NOUN
dem-8594	295	4	we	we	PRON
dem-8594	295	5	indicate	indicate	VERB
dem-8594	295	6	rate	rate	NOUN
dem-8594	295	7	of	of	ADP
dem-8594	295	8	returns	return	NOUN
dem-8594	295	9	tr	tr	ADJ
dem-8594	295	10	and	and	CCONJ
dem-8594	295	11	and	and	CCONJ
dem-8594	295	12	an	an	DET
dem-8594	295	13	average	average	ADJ
dem-8594	295	14	returns	return	NOUN
dem-8594	295	15	in	in	ADP
dem-8594	295	16	the	the	DET
dem-8594	295	17	sample	sample	NOUN
dem-8594	295	18	(	(	PUNCT
dem-8594	295	19	µ	µ	NOUN
dem-8594	295	20	)	)	PUNCT
dem-8594	295	21	.	.	PUNCT
dem-8594	296	1	we	we	PRON
dem-8594	296	2	perform	perform	VERB
dem-8594	296	3	estimation	estimation	NOUN
dem-8594	296	4	for	for	ADP
dem-8594	296	5	residuals	residual	NOUN
dem-8594	296	6	µ−tt	µ−tt	NOUN
dem-8594	296	7	ry	ry	NOUN
dem-8594	297	1	=	=	PRON
dem-8594	297	2	.	.	PUNCT
dem-8594	298	1	we	we	PRON
dem-8594	298	2	estimate	estimate	VERB
dem-8594	298	3	the	the	DET
dem-8594	298	4	parameters	parameter	NOUN
dem-8594	298	5	using	use	VERB
dem-8594	298	6	,	,	PUNCT
dem-8594	298	7	as	as	ADP
dem-8594	298	8	engle	engle	NOUN
dem-8594	298	9	and	and	CCONJ
dem-8594	298	10	manganelli	manganelli	NOUN
dem-8594	298	11	(	(	PUNCT
dem-8594	298	12	2004	2004	NUM
dem-8594	298	13	)	)	PUNCT
dem-8594	298	14	,	,	PUNCT
dem-8594	298	15	doman	doman	PROPN
dem-8594	298	16	,	,	PUNCT
dem-8594	298	17	doman	doman	NOUN
dem-8594	298	18	(	(	PUNCT
dem-8594	298	19	2009	2009	NUM
dem-8594	298	20	)	)	PUNCT
dem-8594	298	21	,	,	PUNCT
dem-8594	298	22	jeon	jeon	PROPN
dem-8594	298	23	and	and	CCONJ
dem-8594	298	24	taylor	taylor	PROPN
dem-8594	298	25	(	(	PUNCT
dem-8594	298	26	2013	2013	NUM
dem-8594	298	27	)	)	PUNCT
dem-8594	298	28	,	,	PUNCT
dem-8594	298	29	the	the	DET
dem-8594	298	30	differential	differential	ADJ
dem-8594	298	31	evolution	evolution	NOUN
dem-8594	298	32	algorithm	algorithm	NOUN
dem-8594	298	33	in	in	ADP
dem-8594	298	34	c++	c++	NOUN
dem-8594	298	35	and	and	CCONJ
dem-8594	298	36	matlab	matlab	PROPN
dem-8594	298	37	.	.	PUNCT
dem-8594	299	1	the	the	DET
dem-8594	299	2	algorithm	algorithm	NOUN
dem-8594	299	3	was	be	AUX
dem-8594	299	4	presented	present	VERB
dem-8594	299	5	by	by	ADP
dem-8594	299	6	price	price	NOUN
dem-8594	299	7	and	and	CCONJ
dem-8594	299	8	storn	storn	ADJ
dem-8594	299	9	(	(	PUNCT
dem-8594	299	10	1997	1997	NUM
dem-8594	299	11	)	)	PUNCT
dem-8594	299	12	.	.	PUNCT
dem-8594	300	1	parameters	parameter	NOUN
dem-8594	300	2	of	of	ADP
dem-8594	300	3	estimated	estimate	VERB
dem-8594	300	4	models	model	NOUN
dem-8594	300	5	are	be	AUX
dem-8594	300	6	contained	contain	VERB
dem-8594	300	7	in	in	ADP
dem-8594	300	8	tables	table	NOUN
dem-8594	300	9	(	(	PUNCT
dem-8594	300	10	6	6	NUM
dem-8594	300	11	)	)	PUNCT
dem-8594	300	12	and	and	CCONJ
dem-8594	300	13	(	(	PUNCT
dem-8594	300	14	7	7	NUM
dem-8594	300	15	)	)	PUNCT
dem-8594	300	16	.	.	PUNCT
dem-8594	301	1	for	for	ADP
dem-8594	301	2	gold	gold	NOUN
dem-8594	301	3	in	in	ADP
dem-8594	301	4	the	the	DET
dem-8594	301	5	sav	sav	PROPN
dem-8594	301	6	models	model	NOUN
dem-8594	301	7	for	for	ADP
dem-8594	301	8	long	long	ADJ
dem-8594	301	9	and	and	CCONJ
dem-8594	301	10	short	short	ADJ
dem-8594	301	11	positions	position	NOUN
dem-8594	301	12	at	at	ADP
dem-8594	301	13	the	the	DET
dem-8594	301	14	0.05	0.05	NUM
dem-8594	301	15	level	level	NOUN
dem-8594	301	16	of	of	ADP
dem-8594	301	17	probability	probability	NOUN
dem-8594	301	18	and	and	CCONJ
dem-8594	301	19	in	in	ADP
dem-8594	301	20	the	the	DET
dem-8594	301	21	case	case	NOUN
dem-8594	301	22	of	of	ADP
dem-8594	301	23	the	the	DET
dem-8594	301	24	model	model	ADJ
dem-8594	301	25	indirect	indirect	ADJ
dem-8594	301	26	garch	garch	NOUN
dem-8594	301	27	both	both	CCONJ
dem-8594	301	28	long	long	ADJ
dem-8594	301	29	and	and	CCONJ
dem-8594	301	30	short	short	ADJ
dem-8594	301	31	positions	position	NOUN
dem-8594	301	32	explanatory	explanatory	ADJ
dem-8594	301	33	variable	variable	ADJ
dem-8594	301	34	as	as	SCONJ
dem-8594	301	35	empirical	empirical	ADJ
dem-8594	301	36	quantile	quantile	NOUN
dem-8594	301	37	turns	turn	VERB
dem-8594	301	38	out	out	ADP
dem-8594	301	39	to	to	PART
dem-8594	301	40	be	be	AUX
dem-8594	301	41	significant	significant	ADJ
dem-8594	301	42	.	.	PUNCT
dem-8594	302	1	for	for	ADP
dem-8594	302	2	oil	oil	NOUN
dem-8594	302	3	we	we	PRON
dem-8594	302	4	observe	observe	VERB
dem-8594	302	5	a	a	DET
dem-8594	302	6	different	different	ADJ
dem-8594	302	7	situation	situation	NOUN
dem-8594	302	8	.	.	PUNCT
dem-8594	303	1	only	only	ADV
dem-8594	303	2	in	in	ADP
dem-8594	303	3	the	the	DET
dem-8594	303	4	case	case	NOUN
dem-8594	303	5	of	of	ADP
dem-8594	303	6	models	model	NOUN
dem-8594	303	7	sav	sav	PROPN
dem-8594	303	8	and	and	CCONJ
dem-8594	303	9	the	the	DET
dem-8594	303	10	as	as	ADP
dem-8594	303	11	for	for	ADP
dem-8594	303	12	a	a	DET
dem-8594	303	13	short	short	ADJ
dem-8594	303	14	position	position	NOUN
dem-8594	303	15	at	at	ADP
dem-8594	303	16	the	the	DET
dem-8594	303	17	0.05	0.05	NUM
dem-8594	303	18	significance	significance	NOUN
dem-8594	303	19	level	level	NOUN
dem-8594	303	20	and	and	CCONJ
dem-8594	303	21	for	for	ADP
dem-8594	303	22	the	the	DET
dem-8594	303	23	ad	ad	NOUN
dem-8594	303	24	model	model	NOUN
dem-8594	303	25	for	for	ADP
dem-8594	303	26	long	long	ADJ
dem-8594	303	27	and	and	CCONJ
dem-8594	303	28	short	short	ADJ
dem-8594	303	29	positions	position	NOUN
dem-8594	303	30	at	at	ADP
dem-8594	303	31	the	the	DET
dem-8594	303	32	0.01	0.01	NUM
dem-8594	303	33	significance	significance	NOUN
dem-8594	303	34	level	level	NOUN
dem-8594	303	35	attached	attach	VERB
dem-8594	303	36	explanatory	explanatory	ADJ
dem-8594	303	37	variable	variable	NOUN
dem-8594	303	38	of	of	ADP
dem-8594	303	39	empirical	empirical	ADJ
dem-8594	303	40	quantile	quantile	NOUN
dem-8594	303	41	turned	turn	VERB
dem-8594	303	42	out	out	ADP
dem-8594	303	43	to	to	PART
dem-8594	303	44	be	be	AUX
dem-8594	303	45	irrelevant	irrelevant	ADJ
dem-8594	303	46	.	.	PUNCT
dem-8594	304	1	to	to	PART
dem-8594	304	2	optimize	optimize	VERB
dem-8594	304	3	the	the	DET
dem-8594	304	4	parameters	parameter	NOUN
dem-8594	304	5	of	of	ADP
dem-8594	304	6	regression	regression	NOUN
dem-8594	304	7	methods	method	NOUN
dem-8594	304	8	and	and	CCONJ
dem-8594	304	9	the	the	DET
dem-8594	304	10	variancecovariance	variancecovariance	NOUN
dem-8594	304	11	method	method	NOUN
dem-8594	304	12	we	we	PRON
dem-8594	304	13	expressed	express	VERB
dem-8594	304	14	the	the	DET
dem-8594	304	15	quantile	quantile	ADJ
dem-8594	304	16	regression	regression	NOUN
dem-8594	304	17	minimization	minimization	NOUN
dem-8594	304	18	as	as	ADP
dem-8594	304	19	a	a	DET
dem-8594	304	20	linear	linear	ADJ
dem-8594	304	21	programme	programme	NOUN
dem-8594	304	22	and	and	CCONJ
dem-8594	304	23	applied	apply	VERB
dem-8594	304	24	the	the	DET
dem-8594	304	25	nelder	nelder	ADJ
dem-8594	304	26	-	-	PUNCT
dem-8594	304	27	mead	mead	NOUN
dem-8594	304	28	simplex	simplex	NOUN
dem-8594	304	29	algorithm	algorithm	NOUN
dem-8594	304	30	.	.	PUNCT
dem-8594	305	1	the	the	DET
dem-8594	305	2	estimated	estimate	VERB
dem-8594	305	3	parameter	parameter	NOUN
dem-8594	305	4	for	for	ADP
dem-8594	305	5	the	the	DET
dem-8594	305	6	combined	combine	VERB
dem-8594	305	7	forecasts	forecast	NOUN
dem-8594	305	8	are	be	AUX
dem-8594	305	9	contained	contain	VERB
dem-8594	305	10	in	in	ADP
dem-8594	305	11	the	the	DET
dem-8594	305	12	table	table	NOUN
dem-8594	305	13	(	(	PUNCT
dem-8594	305	14	8)	8)	NUM
dem-8594	305	15	.	.	PUNCT
dem-8594	306	1	in	in	ADP
dem-8594	306	2	case	case	NOUN
dem-8594	306	3	of	of	ADP
dem-8594	306	4	gold	gold	NOUN
dem-8594	306	5	the	the	DET
dem-8594	306	6	forecast	forecast	NOUN
dem-8594	306	7	based	base	VERB
dem-8594	306	8	on	on	ADP
dem-8594	306	9	implied	imply	VERB
dem-8594	306	10	volatility	volatility	NOUN
dem-8594	306	11	receives	receive	VERB
dem-8594	306	12	a	a	DET
dem-8594	306	13	higher	high	ADJ
dem-8594	306	14	weight	weight	NOUN
dem-8594	306	15	than	than	ADP
dem-8594	306	16	the	the	DET
dem-8594	306	17	predictions	prediction	NOUN
dem-8594	306	18	from	from	ADP
dem-8594	306	19	the	the	DET
dem-8594	306	20	caviar	caviar	NOUN
dem-8594	306	21	models	model	NOUN
dem-8594	306	22	.	.	PUNCT
dem-8594	307	1	in	in	ADP
dem-8594	307	2	case	case	NOUN
dem-8594	307	3	of	of	ADP
dem-8594	307	4	the	the	DET
dem-8594	307	5	oil	oil	NOUN
dem-8594	307	6	the	the	DET
dem-8594	307	7	implied	imply	VERB
dem-8594	307	8	quantile	quantile	NOUN
dem-8594	307	9	receives	receive	VERB
dem-8594	307	10	significantly	significantly	ADV
dem-8594	307	11	higher	high	ADJ
dem-8594	307	12	weight	weight	NOUN
dem-8594	307	13	when	when	SCONJ
dem-8594	307	14	forecast	forecast	NOUN
dem-8594	307	15	is	be	AUX
dem-8594	307	16	combined	combine	VERB
dem-8594	307	17	on	on	ADP
dem-8594	307	18	the	the	DET
dem-8594	307	19	basis	basis	NOUN
dem-8594	307	20	of	of	ADP
dem-8594	307	21	caviar	caviar	ADJ
dem-8594	307	22	-	-	PUNCT
dem-8594	307	23	ad	ad	NOUN
dem-8594	307	24	model	model	NOUN
dem-8594	307	25	and	and	CCONJ
dem-8594	307	26	implied	imply	VERB
dem-8594	307	27	quantile	quantile	NOUN
dem-8594	307	28	for	for	ADP
dem-8594	307	29	long	long	ADJ
dem-8594	307	30	and	and	CCONJ
dem-8594	307	31	short	short	ADJ
dem-8594	307	32	positions	position	NOUN
dem-8594	307	33	at	at	ADP
dem-8594	307	34	the	the	DET
dem-8594	307	35	0.01	0.01	NUM
dem-8594	307	36	significance	significance	NOUN
dem-8594	307	37	level	level	NOUN
dem-8594	307	38	,	,	PUNCT
dem-8594	307	39	and	and	CCONJ
dem-8594	307	40	for	for	ADP
dem-8594	307	41	a	a	DET
dem-8594	307	42	long	long	ADJ
dem-8594	307	43	position	position	NOUN
dem-8594	307	44	at	at	ADP
dem-8594	307	45	the	the	DET
dem-8594	307	46	0.05	0.05	NUM
dem-8594	307	47	significance	significance	NOUN
dem-8594	307	48	level	level	NOUN
dem-8594	307	49	.	.	PUNCT
dem-8594	308	1	but	but	CCONJ
dem-8594	308	2	for	for	ADP
dem-8594	308	3	a	a	DET
dem-8594	308	4	short	short	ADJ
dem-8594	308	5	position	position	NOUN
dem-8594	308	6	at	at	ADP
dem-8594	308	7	the	the	DET
dem-8594	308	8	0.05	0.05	NUM
dem-8594	308	9	significance	significance	NOUN
dem-8594	308	10	level	level	NOUN
dem-8594	308	11	the	the	DET
dem-8594	308	12	implied	imply	VERB
dem-8594	308	13	quantile	quantile	NOUN
dem-8594	308	14	receives	receive	VERB
dem-8594	308	15	a	a	DET
dem-8594	308	16	significantly	significantly	ADV
dem-8594	308	17	higher	high	ADJ
dem-8594	308	18	weight	weight	NOUN
dem-8594	308	19	in	in	ADP
dem-8594	308	20	the	the	DET
dem-8594	308	21	combination	combination	NOUN
dem-8594	308	22	of	of	ADP
dem-8594	308	23	implied	imply	VERB
dem-8594	308	24	quantile	quantile	NOUN
dem-8594	308	25	with	with	ADP
dem-8594	308	26	the	the	DET
dem-8594	308	27	forecast	forecast	NOUN
dem-8594	308	28	based	base	VERB
dem-8594	308	29	on	on	ADP
dem-8594	308	30	sav	sav	PROPN
dem-8594	308	31	or	or	CCONJ
dem-8594	308	32	indirect	indirect	ADJ
dem-8594	308	33	garch	garch	NOUN
dem-8594	308	34	model	model	NOUN
dem-8594	308	35	.	.	PUNCT
dem-8594	309	1	ewa	ewa	PROPN
dem-8594	309	2	ratuszny	ratuszny	VERB
dem-8594	309	3	dynamic	dynamic	ADJ
dem-8594	309	4	econometric	econometric	ADJ
dem-8594	309	5	models	model	NOUN
dem-8594	309	6	15	15	NUM
dem-8594	309	7	(	(	PUNCT
dem-8594	309	8	2015	2015	NUM
dem-8594	309	9	)	)	PUNCT
dem-8594	309	10	129–156	129–156	NUM
dem-8594	309	11	148	148	NUM
dem-8594	309	12	table	table	NOUN
dem-8594	309	13	7	7	NUM
dem-8594	309	14	.	.	PUNCT
dem-8594	309	15	oil	oil	NOUN
dem-8594	309	16	.	.	PUNCT
dem-8594	310	1	estimated	estimate	VERB
dem-8594	310	2	parameters	parameter	NOUN
dem-8594	310	3	of	of	ADP
dem-8594	310	4	caviar	caviar	PROPN
dem-8594	310	5	and	and	CCONJ
dem-8594	310	6	caviar	caviar	NOUN
dem-8594	310	7	-	-	PUNCT
dem-8594	310	8	plugin	plugin	NOUN
dem-8594	310	9	models	model	NOUN
dem-8594	310	10	model	model	PROPN
dem-8594	310	11	parametr	parametr	PROPN
dem-8594	310	12	caviar	caviar	PROPN
dem-8594	310	13	plugin	plugin	PROPN
dem-8594	310	14	long	long	ADJ
dem-8594	310	15	position	position	NOUN
dem-8594	310	16	short	short	ADJ
dem-8594	310	17	position	position	NOUN
dem-8594	310	18	long	long	ADJ
dem-8594	310	19	position	position	NOUN
dem-8594	310	20	short	short	ADJ
dem-8594	310	21	position	position	NOUN
dem-8594	310	22	0.01	0.01	NUM
dem-8594	310	23	0.05	0.05	NUM
dem-8594	310	24	0.01	0.01	NUM
dem-8594	310	25	0.05	0.05	NUM
dem-8594	310	26	0.01	0.01	NUM
dem-8594	310	27	0.05	0.05	NUM
dem-8594	310	28	0.01	0.01	NUM
dem-8594	310	29	0.05	0.05	NUM
dem-8594	310	30	*	*	PUNCT
dem-8594	310	31	sav	sav	X
dem-8594	310	32	1β	1β	NUM
dem-8594	310	33	0.00251	0.00251	NUM
dem-8594	310	34	0.00011	0.00011	NUM
dem-8594	310	35	0.00278	0.00278	NUM
dem-8594	310	36	0.00006	0.00006	NUM
dem-8594	310	37	–	–	PUNCT
dem-8594	310	38	0.00062	0.00062	NUM
dem-8594	310	39	–	–	PUNCT
dem-8594	310	40	0.00196	0.00196	NUM
dem-8594	310	41	–	–	PUNCT
dem-8594	310	42	0.00074	0.00074	NUM
dem-8594	310	43	–	–	PUNCT
dem-8594	310	44	0.00288	0.00288	NUM
dem-8594	310	45	(	(	PUNCT
dem-8594	310	46	0.0007	0.0007	NUM
dem-8594	310	47	)	)	PUNCT
dem-8594	310	48	(	(	PUNCT
dem-8594	310	49	0.0002	0.0002	NUM
dem-8594	310	50	)	)	PUNCT
dem-8594	310	51	(	(	PUNCT
dem-8594	310	52	0.0015	0.0015	NUM
dem-8594	310	53	)	)	PUNCT
dem-8594	310	54	(	(	PUNCT
dem-8594	310	55	0.0002	0.0002	NUM
dem-8594	310	56	)	)	PUNCT
dem-8594	310	57	(	(	PUNCT
dem-8594	310	58	0.0032	0.0032	NUM
dem-8594	310	59	)	)	PUNCT
dem-8594	310	60	(	(	PUNCT
dem-8594	310	61	0.0029	0.0029	NUM
dem-8594	310	62	)	)	PUNCT
dem-8594	310	63	(	(	PUNCT
dem-8594	310	64	0.0037	0.0037	NUM
dem-8594	310	65	)	)	PUNCT
dem-8594	310	66	(	(	PUNCT
dem-8594	310	67	0.0013	0.0013	NUM
dem-8594	310	68	)	)	PUNCT
dem-8594	310	69	2β	2β	NOUN
dem-8594	310	70	0.87120	0.87120	NUM
dem-8594	311	1	0.91757	0.91757	NUM
dem-8594	311	2	0.76330	0.76330	NUM
dem-8594	311	3	0.90003	0.90003	NUM
dem-8594	311	4	0.68751	0.68751	NUM
dem-8594	311	5	0.78916	0.78916	NUM
dem-8594	311	6	0.49449	0.49449	NUM
dem-8594	311	7	0.79478	0.79478	NUM
dem-8594	311	8	(	(	PUNCT
dem-8594	311	9	0.0211	0.0211	NUM
dem-8594	311	10	)	)	PUNCT
dem-8594	311	11	(	(	PUNCT
dem-8594	311	12	0.0370	0.0370	NUM
dem-8594	311	13	)	)	PUNCT
dem-8594	311	14	(	(	PUNCT
dem-8594	311	15	0.0683	0.0683	NUM
dem-8594	311	16	)	)	PUNCT
dem-8594	311	17	(	(	PUNCT
dem-8594	311	18	0.0265	0.0265	NUM
dem-8594	311	19	)	)	PUNCT
dem-8594	311	20	(	(	PUNCT
dem-8594	311	21	0.1239	0.1239	NUM
dem-8594	311	22	)	)	PUNCT
dem-8594	311	23	(	(	PUNCT
dem-8594	311	24	0.1580	0.1580	NUM
dem-8594	311	25	)	)	PUNCT
dem-8594	311	26	(	(	PUNCT
dem-8594	311	27	0.2313	0.2313	NUM
dem-8594	311	28	)	)	PUNCT
dem-8594	311	29	(	(	PUNCT
dem-8594	311	30	0.0520	0.0520	NUM
dem-8594	311	31	)	)	PUNCT
dem-8594	311	32	3β	3β	NUM
dem-8594	311	33	0.27242	0.27242	NUM
dem-8594	311	34	0.17969	0.17969	NUM
dem-8594	311	35	0.55563	0.55563	NUM
dem-8594	311	36	0.20181	0.20181	NUM
dem-8594	311	37	0.24017	0.24017	NUM
dem-8594	311	38	0.14208	0.14208	NUM
dem-8594	311	39	0.51237	0.51237	NUM
dem-8594	311	40	0.22536	0.22536	NUM
dem-8594	311	41	(	(	PUNCT
dem-8594	311	42	0.0466	0.0466	NUM
dem-8594	311	43	)	)	PUNCT
dem-8594	311	44	(	(	PUNCT
dem-8594	311	45	0.0882	0.0882	NUM
dem-8594	311	46	)	)	PUNCT
dem-8594	311	47	(	(	PUNCT
dem-8594	311	48	0.2154	0.2154	NUM
dem-8594	311	49	)	)	PUNCT
dem-8594	311	50	(	(	PUNCT
dem-8594	311	51	0.0561	0.0561	NUM
dem-8594	311	52	)	)	PUNCT
dem-8594	311	53	(	(	PUNCT
dem-8594	311	54	0.0486	0.0486	NUM
dem-8594	311	55	)	)	PUNCT
dem-8594	311	56	(	(	PUNCT
dem-8594	311	57	0.1666	0.1666	NUM
dem-8594	311	58	)	)	PUNCT
dem-8594	311	59	(	(	PUNCT
dem-8594	311	60	0.2829	0.2829	NUM
dem-8594	311	61	)	)	PUNCT
dem-8594	311	62	(	(	PUNCT
dem-8594	311	63	0.0638	0.0638	NUM
dem-8594	311	64	)	)	PUNCT
dem-8594	311	65	iqβ	iqβ	VERB
dem-8594	311	66	0.26605	0.26605	NUM
dem-8594	311	67	0.20524	0.20524	NUM
dem-8594	311	68	0.33959	0.33959	NUM
dem-8594	311	69	0.18180	0.18180	NUM
dem-8594	311	70	(	(	PUNCT
dem-8594	311	71	0.1846	0.1846	NUM
dem-8594	311	72	)	)	PUNCT
dem-8594	311	73	(	(	PUNCT
dem-8594	311	74	0.1679	0.1679	NUM
dem-8594	311	75	)	)	PUNCT
dem-8594	311	76	(	(	PUNCT
dem-8594	311	77	0.2533	0.2533	NUM
dem-8594	311	78	)	)	PUNCT
dem-8594	311	79	(	(	PUNCT
dem-8594	311	80	0.0843	0.0843	NUM
dem-8594	311	81	)	)	PUNCT
dem-8594	311	82	as	as	ADP
dem-8594	311	83	1β	1β	NUM
dem-8594	311	84	0.00303	0.00303	NUM
dem-8594	311	85	0.00010	0.00010	NUM
dem-8594	311	86	0.00218	0.00218	NUM
dem-8594	311	87	0.00048	0.00048	NUM
dem-8594	311	88	–	–	PUNCT
dem-8594	311	89	0.00396	0.00396	NUM
dem-8594	311	90	–	–	PUNCT
dem-8594	311	91	0.00053	0.00053	NUM
dem-8594	311	92	0.00225	0.00225	NUM
dem-8594	311	93	–	–	PUNCT
dem-8594	311	94	0.00089	0.00089	NUM
dem-8594	311	95	(	(	PUNCT
dem-8594	311	96	0.0008	0.0008	NUM
dem-8594	311	97	)	)	PUNCT
dem-8594	311	98	(	(	PUNCT
dem-8594	311	99	0.0002	0.0002	NUM
dem-8594	311	100	)	)	PUNCT
dem-8594	311	101	(	(	PUNCT
dem-8594	311	102	0.0008	0.0008	NUM
dem-8594	311	103	)	)	PUNCT
dem-8594	311	104	(	(	PUNCT
dem-8594	311	105	0.0002	0.0002	NUM
dem-8594	311	106	)	)	PUNCT
dem-8594	311	107	(	(	PUNCT
dem-8594	311	108	0.0084	0.0084	NUM
dem-8594	311	109	)	)	PUNCT
dem-8594	311	110	(	(	PUNCT
dem-8594	311	111	0.0011	0.0011	NUM
dem-8594	311	112	)	)	PUNCT
dem-8594	311	113	(	(	PUNCT
dem-8594	311	114	0.0013	0.0013	NUM
dem-8594	311	115	)	)	PUNCT
dem-8594	311	116	(	(	PUNCT
dem-8594	311	117	0.0009	0.0009	NUM
dem-8594	311	118	)	)	PUNCT
dem-8594	311	119	2β	2β	NOUN
dem-8594	311	120	0.84521	0.84521	NUM
dem-8594	311	121	0.93895	0.93895	NUM
dem-8594	311	122	0.86735	0.86735	NUM
dem-8594	311	123	0.91141	0.91141	NUM
dem-8594	311	124	0.60910	0.60910	NUM
dem-8594	311	125	0.91166	0.91166	NUM
dem-8594	311	126	0.86953	0.86953	NUM
dem-8594	311	127	0.85358	0.85358	NUM
dem-8594	311	128	(	(	PUNCT
dem-8594	311	129	0.0358	0.0358	NUM
dem-8594	311	130	)	)	PUNCT
dem-8594	311	131	(	(	PUNCT
dem-8594	311	132	0.0301	0.0301	NUM
dem-8594	311	133	)	)	PUNCT
dem-8594	311	134	(	(	PUNCT
dem-8594	311	135	0.0375	0.0375	NUM
dem-8594	311	136	)	)	PUNCT
dem-8594	311	137	(	(	PUNCT
dem-8594	311	138	0.0279	0.0279	NUM
dem-8594	311	139	)	)	PUNCT
dem-8594	311	140	(	(	PUNCT
dem-8594	311	141	0.2047	0.2047	NUM
dem-8594	311	142	)	)	PUNCT
dem-8594	311	143	(	(	PUNCT
dem-8594	311	144	0.0795	0.0795	NUM
dem-8594	311	145	)	)	PUNCT
dem-8594	311	146	(	(	PUNCT
dem-8594	311	147	0.0387	0.0387	NUM
dem-8594	311	148	)	)	PUNCT
dem-8594	311	149	(	(	PUNCT
dem-8594	311	150	0.0638	0.0638	NUM
dem-8594	311	151	)	)	PUNCT
dem-8594	311	152	3β	3β	NUM
dem-8594	311	153	0.25223	0.25223	NUM
dem-8594	312	1	0.09902	0.09902	NUM
dem-8594	312	2	0.48895	0.48895	NUM
dem-8594	312	3	0.24716	0.24716	NUM
dem-8594	312	4	0.22894	0.22894	NUM
dem-8594	312	5	0.07790	0.07790	NUM
dem-8594	312	6	0.48150	0.48150	NUM
dem-8594	312	7	0.26358	0.26358	NUM
dem-8594	312	8	(	(	PUNCT
dem-8594	312	9	0.0585	0.0585	NUM
dem-8594	312	10	)	)	PUNCT
dem-8594	312	11	(	(	PUNCT
dem-8594	312	12	0.0823	0.0823	NUM
dem-8594	312	13	(	(	PUNCT
dem-8594	312	14	0.1723	0.1723	NUM
dem-8594	312	15	)	)	PUNCT
dem-8594	312	16	(	(	PUNCT
dem-8594	312	17	0.0589	0.0589	NUM
dem-8594	312	18	)	)	PUNCT
dem-8594	312	19	(	(	PUNCT
dem-8594	312	20	0.0530	0.0530	NUM
dem-8594	312	21	)	)	PUNCT
dem-8594	312	22	(	(	PUNCT
dem-8594	312	23	0.1848	0.1848	NUM
dem-8594	312	24	)	)	PUNCT
dem-8594	312	25	(	(	PUNCT
dem-8594	312	26	0.1674	0.1674	NUM
dem-8594	312	27	)	)	PUNCT
dem-8594	312	28	(	(	PUNCT
dem-8594	312	29	0.1156	0.1156	NUM
dem-8594	312	30	)	)	PUNCT
dem-8594	312	31	4β	4β	NOUN
dem-8594	312	32	–	–	PUNCT
dem-8594	312	33	0.44066	0.44066	NUM
dem-8594	312	34	–	–	PUNCT
dem-8594	312	35	0.16163	0.16163	NUM
dem-8594	312	36	–	–	PUNCT
dem-8594	312	37	0.01570	0.01570	NUM
dem-8594	312	38	–	–	PUNCT
dem-8594	312	39	0.06286	0.06286	NUM
dem-8594	312	40	–	–	PUNCT
dem-8594	312	41	0.38298	0.38298	NUM
dem-8594	312	42	–	–	PUNCT
dem-8594	312	43	0.16073	0.16073	NUM
dem-8594	312	44	–	–	PUNCT
dem-8594	312	45	0.02043	0.02043	NUM
dem-8594	312	46	–	–	PUNCT
dem-8594	312	47	0.05617	0.05617	NUM
dem-8594	312	48	(	(	PUNCT
dem-8594	312	49	0.1968	0.1968	NUM
dem-8594	312	50	)	)	PUNCT
dem-8594	312	51	(	(	PUNCT
dem-8594	312	52	0.0653	0.0653	NUM
dem-8594	312	53	)	)	PUNCT
dem-8594	312	54	(	(	PUNCT
dem-8594	312	55	0.0790	0.0790	NUM
dem-8594	312	56	)	)	PUNCT
dem-8594	312	57	(	(	PUNCT
dem-8594	312	58	0.0564	0.0564	NUM
dem-8594	312	59	)	)	PUNCT
dem-8594	312	60	(	(	PUNCT
dem-8594	312	61	0.2921	0.2921	NUM
dem-8594	312	62	)	)	PUNCT
dem-8594	312	63	(	(	PUNCT
dem-8594	312	64	0.0923	0.0923	NUM
dem-8594	312	65	)	)	PUNCT
dem-8594	312	66	(	(	PUNCT
dem-8594	312	67	0.0785	0.0785	NUM
dem-8594	312	68	)	)	PUNCT
dem-8594	312	69	(	(	PUNCT
dem-8594	312	70	0.0831	0.0831	NUM
dem-8594	312	71	)	)	PUNCT
dem-8594	312	72	iqβ	iqβ	VERB
dem-8594	312	73	0.40265	0.40265	NUM
dem-8594	312	74	0.05087	0.05087	NUM
dem-8594	312	75	–	–	PUNCT
dem-8594	312	76	0.00280	0.00280	NUM
dem-8594	312	77	0.09615	0.09615	NUM
dem-8594	312	78	(	(	PUNCT
dem-8594	312	79	0.3612	0.3612	NUM
dem-8594	312	80	)	)	PUNCT
dem-8594	312	81	(	(	PUNCT
dem-8594	312	82	0.1275	0.1275	NUM
dem-8594	312	83	)	)	PUNCT
dem-8594	312	84	(	(	PUNCT
dem-8594	312	85	0.0396	0.0396	NUM
dem-8594	312	86	)	)	PUNCT
dem-8594	312	87	(	(	PUNCT
dem-8594	312	88	0.0533	0.0533	NUM
dem-8594	312	89	)	)	PUNCT
dem-8594	312	90	indirect	indirect	ADJ
dem-8594	312	91	garch	garch	NOUN
dem-8594	312	92	1β	1β	NUM
dem-8594	312	93	0.00009	0.00009	NUM
dem-8594	312	94	0.00002	0.00002	NUM
dem-8594	312	95	0.00027	0.00027	NUM
dem-8594	312	96	0.00001	0.00001	NUM
dem-8594	312	97	0.00010	0.00010	NUM
dem-8594	312	98	0.00001	0.00001	NUM
dem-8594	312	99	0.00020	0.00020	NUM
dem-8594	312	100	0.00014	0.00014	NUM
dem-8594	312	101	(	(	PUNCT
dem-8594	312	102	0.0008	0.0008	NUM
dem-8594	312	103	)	)	PUNCT
dem-8594	312	104	(	(	PUNCT
dem-8594	312	105	0.0004	0.0004	NUM
dem-8594	312	106	)	)	PUNCT
dem-8594	312	107	(	(	PUNCT
dem-8594	312	108	0.0005	0.0005	NUM
dem-8594	312	109	)	)	PUNCT
dem-8594	312	110	(	(	PUNCT
dem-8594	312	111	0.0003	0.0003	NUM
dem-8594	312	112	)	)	PUNCT
dem-8594	312	113	(	(	PUNCT
dem-8594	312	114	0.0007	0.0007	NUM
dem-8594	312	115	)	)	PUNCT
dem-8594	312	116	(	(	PUNCT
dem-8594	312	117	0.0008	0.0008	NUM
dem-8594	312	118	)	)	PUNCT
dem-8594	312	119	(	(	PUNCT
dem-8594	312	120	0.0009	0.0009	NUM
dem-8594	312	121	)	)	PUNCT
dem-8594	312	122	(	(	PUNCT
dem-8594	312	123	0.0010	0.0010	NUM
dem-8594	312	124	)	)	PUNCT
dem-8594	312	125	2β	2β	NOUN
dem-8594	312	126	0.92011	0.92011	NUM
dem-8594	312	127	0.89439	0.89439	NUM
dem-8594	312	128	0.57487	0.57487	NUM
dem-8594	312	129	0.88718	0.88718	NUM
dem-8594	312	130	0.76380	0.76380	NUM
dem-8594	312	131	0.85947	0.85947	NUM
dem-8594	312	132	0.33369	0.33369	NUM
dem-8594	312	133	0.69506	0.69506	NUM
dem-8594	312	134	(	(	PUNCT
dem-8594	312	135	0.2345	0.2345	NUM
dem-8594	312	136	)	)	PUNCT
dem-8594	312	137	(	(	PUNCT
dem-8594	312	138	0.4421	0.4421	NUM
dem-8594	312	139	)	)	PUNCT
dem-8594	312	140	(	(	PUNCT
dem-8594	312	141	0.1830	0.1830	NUM
dem-8594	312	142	)	)	PUNCT
dem-8594	312	143	(	(	PUNCT
dem-8594	312	144	0.3737	0.3737	NUM
dem-8594	312	145	)	)	PUNCT
dem-8594	312	146	(	(	PUNCT
dem-8594	312	147	0.5136	0.5136	NUM
dem-8594	312	148	)	)	PUNCT
dem-8594	312	149	(	(	PUNCT
dem-8594	312	150	0.5754	0.5754	NUM
dem-8594	312	151	)	)	PUNCT
dem-8594	312	152	(	(	PUNCT
dem-8594	312	153	1.6465	1.6465	NUM
dem-8594	312	154	)	)	PUNCT
dem-8594	312	155	(	(	PUNCT
dem-8594	312	156	0.9587	0.9587	NUM
dem-8594	312	157	)	)	PUNCT
dem-8594	312	158	3β	3β	NOUN
dem-8594	312	159	0.33190	0.33190	NUM
dem-8594	313	1	0.30253	0.30253	NUM
dem-8594	313	2	2.23002	2.23002	NUM
dem-8594	313	3	0.26633	0.26633	NUM
dem-8594	313	4	0.36438	0.36438	NUM
dem-8594	313	5	0.30606	0.30606	NUM
dem-8594	313	6	2.15737	2.15737	NUM
dem-8594	313	7	0.27593	0.27593	NUM
dem-8594	313	8	(	(	PUNCT
dem-8594	313	9	0.0955	0.0955	NUM
dem-8594	313	10	)	)	PUNCT
dem-8594	313	11	(	(	PUNCT
dem-8594	313	12	0.2939	0.2939	NUM
dem-8594	313	13	)	)	PUNCT
dem-8594	313	14	(	(	PUNCT
dem-8594	313	15	1.6959	1.6959	NUM
dem-8594	313	16	)	)	PUNCT
dem-8594	313	17	(	(	PUNCT
dem-8594	313	18	0.2245	0.2245	NUM
dem-8594	313	19	)	)	PUNCT
dem-8594	313	20	(	(	PUNCT
dem-8594	313	21	0.0785	0.0785	NUM
dem-8594	313	22	)	)	PUNCT
dem-8594	313	23	(	(	PUNCT
dem-8594	313	24	0.5608	0.5608	NUM
dem-8594	313	25	)	)	PUNCT
dem-8594	313	26	(	(	PUNCT
dem-8594	313	27	1.8255	1.8255	NUM
dem-8594	313	28	)	)	PUNCT
dem-8594	313	29	(	(	PUNCT
dem-8594	313	30	0.5857	0.5857	NUM
dem-8594	313	31	)	)	PUNCT
dem-8594	313	32	iqβ	iqβ	VERB
dem-8594	313	33	0.16353	0.16353	NUM
dem-8594	313	34	0.05555	0.05555	NUM
dem-8594	313	35	0.41244	0.41244	NUM
dem-8594	313	36	0.33313	0.33313	NUM
dem-8594	313	37	(	(	PUNCT
dem-8594	313	38	0.4457	0.4457	NUM
dem-8594	313	39	)	)	PUNCT
dem-8594	313	40	(	(	PUNCT
dem-8594	313	41	0.4795	0.4795	NUM
dem-8594	313	42	)	)	PUNCT
dem-8594	313	43	(	(	PUNCT
dem-8594	313	44	1.6413	1.6413	NUM
dem-8594	313	45	)	)	PUNCT
dem-8594	313	46	(	(	PUNCT
dem-8594	313	47	1.0470	1.0470	NUM
dem-8594	313	48	)	)	PUNCT
dem-8594	313	49	ad	ad	NOUN
dem-8594	313	50	1β	1β	NUM
dem-8594	313	51	–	–	PUNCT
dem-8594	313	52	0.00006	0.00006	NUM
dem-8594	313	53	–	–	PUNCT
dem-8594	313	54	0.00001	0.00001	NUM
dem-8594	313	55	–	–	PUNCT
dem-8594	313	56	0.00009	0.00009	NUM
dem-8594	313	57	–	–	PUNCT
dem-8594	313	58	0.00001	0.00001	NUM
dem-8594	313	59	–	–	PUNCT
dem-8594	313	60	0.01450	0.01450	NUM
dem-8594	313	61	–	–	PUNCT
dem-8594	313	62	0.01260	0.01260	NUM
dem-8594	313	63	–	–	PUNCT
dem-8594	313	64	0.00243	0.00243	NUM
dem-8594	313	65	0.01063	0.01063	NUM
dem-8594	313	66	(	(	PUNCT
dem-8594	313	67	0.0000	0.0000	NUM
dem-8594	313	68	)	)	PUNCT
dem-8594	313	69	(	(	PUNCT
dem-8594	313	70	0.0000	0.0000	NUM
dem-8594	313	71	)	)	PUNCT
dem-8594	313	72	(	(	PUNCT
dem-8594	313	73	0.0000	0.0000	NUM
dem-8594	313	74	)	)	PUNCT
dem-8594	313	75	(	(	PUNCT
dem-8594	313	76	0.0000	0.0000	NUM
dem-8594	313	77	)	)	PUNCT
dem-8594	313	78	(	(	PUNCT
dem-8594	313	79	0.0327	0.0327	NUM
dem-8594	313	80	)	)	PUNCT
dem-8594	313	81	(	(	PUNCT
dem-8594	313	82	0.0000	0.0000	NUM
dem-8594	313	83	)	)	PUNCT
dem-8594	313	84	(	(	PUNCT
dem-8594	313	85	0.0587	0.0587	NUM
dem-8594	313	86	)	)	PUNCT
dem-8594	313	87	(	(	PUNCT
dem-8594	313	88	0.0000	0.0000	NUM
dem-8594	313	89	)	)	PUNCT
dem-8594	313	90	2β	2β	NOUN
dem-8594	313	91	0.46859	0.46859	NUM
dem-8594	313	92	0.87643	0.87643	NUM
dem-8594	313	93	0.13146	0.13146	NUM
dem-8594	313	94	0.79313	0.79313	NUM
dem-8594	313	95	(	(	PUNCT
dem-8594	313	96	0.1660	0.1660	NUM
dem-8594	313	97	)	)	PUNCT
dem-8594	313	98	(	(	PUNCT
dem-8594	313	99	0.0000	0.0000	NUM
dem-8594	313	100	)	)	PUNCT
dem-8594	313	101	(	(	PUNCT
dem-8594	313	102	0.2360	0.2360	NUM
dem-8594	313	103	)	)	PUNCT
dem-8594	313	104	(	(	PUNCT
dem-8594	313	105	0.0000	0.0000	NUM
dem-8594	313	106	)	)	PUNCT
dem-8594	313	107	3β	3β	NUM
dem-8594	313	108	0.01776	0.01776	NUM
dem-8594	313	109	0.02359	0.02359	NUM
dem-8594	313	110	–	–	PUNCT
dem-8594	313	111	0.01067	0.01067	NUM
dem-8594	313	112	–	–	PUNCT
dem-8594	313	113	0.02933	0.02933	NUM
dem-8594	313	114	(	(	PUNCT
dem-8594	313	115	0.0000	0.0000	NUM
dem-8594	313	116	)	)	PUNCT
dem-8594	313	117	(	(	PUNCT
dem-8594	313	118	0.0000	0.0000	NUM
dem-8594	313	119	)	)	PUNCT
dem-8594	313	120	(	(	PUNCT
dem-8594	313	121	0.0000	0.0000	NUM
dem-8594	313	122	)	)	PUNCT
dem-8594	313	123	(	(	PUNCT
dem-8594	313	124	0.0000	0.0000	NUM
dem-8594	313	125	)	)	PUNCT
dem-8594	313	126	iqβ	iqβ	VERB
dem-8594	313	127	0.72811	0.72811	NUM
dem-8594	313	128	0.24512	0.24512	NUM
dem-8594	313	129	0.99871	0.99871	NUM
dem-8594	313	130	0.20844	0.20844	NUM
dem-8594	313	131	(	(	PUNCT
dem-8594	313	132	0.0636	0.0636	NUM
dem-8594	313	133	)	)	PUNCT
dem-8594	313	134	(	(	PUNCT
dem-8594	313	135	0.0000	0.0000	NUM
dem-8594	313	136	)	)	PUNCT
dem-8594	313	137	(	(	PUNCT
dem-8594	313	138	0.0955	0.0955	NUM
dem-8594	313	139	)	)	PUNCT
dem-8594	313	140	(	(	PUNCT
dem-8594	313	141	0.0000	0.0000	NUM
dem-8594	313	142	)	)	PUNCT
dem-8594	313	143	note	note	NOUN
dem-8594	313	144	:	:	PUNCT
dem-8594	313	145	0.01	0.01	NUM
dem-8594	313	146	;	;	PUNCT
dem-8594	313	147	0.05	0.05	NUM
dem-8594	313	148	–	–	PUNCT
dem-8594	313	149	α	α	NUM
dem-8594	313	150	-	-	PUNCT
dem-8594	313	151	significance	significance	NOUN
dem-8594	313	152	level	level	NOUN
dem-8594	313	153	of	of	ADP
dem-8594	313	154	var	var	NOUN
dem-8594	313	155	;	;	PUNCT
dem-8594	313	156	standard	standard	ADJ
dem-8594	313	157	errors	error	NOUN
dem-8594	313	158	in	in	ADP
dem-8594	313	159	bracktes	bracktes	PROPN
dem-8594	313	160	;	;	PUNCT
dem-8594	313	161	bolded	bolde	VERB
dem-8594	313	162	values	value	NOUN
dem-8594	313	163	indicate	indicate	VERB
dem-8594	313	164	significant	significant	ADJ
dem-8594	313	165	parameters	parameter	NOUN
dem-8594	313	166	according	accord	VERB
dem-8594	313	167	to	to	ADP
dem-8594	313	168	t	t	PROPN
dem-8594	313	169	statistics	statistic	NOUN
dem-8594	313	170	.	.	PUNCT
dem-8594	314	1	weights	weight	NOUN
dem-8594	314	2	received	receive	VERB
dem-8594	314	3	on	on	ADP
dem-8594	314	4	the	the	DET
dem-8594	314	5	basis	basis	NOUN
dem-8594	314	6	of	of	ADP
dem-8594	314	7	weighted	weight	VERB
dem-8594	314	8	averaged	average	VERB
dem-8594	314	9	combining	combine	VERB
dem-8594	314	10	method	method	NOUN
dem-8594	314	11	are	be	AUX
dem-8594	314	12	included	include	VERB
dem-8594	314	13	in	in	ADP
dem-8594	314	14	a	a	DET
dem-8594	314	15	table	table	NOUN
dem-8594	314	16	(	(	PUNCT
dem-8594	314	17	9	9	NUM
dem-8594	314	18	)	)	PUNCT
dem-8594	314	19	.	.	PUNCT
dem-8594	315	1	for	for	ADP
dem-8594	315	2	gold	gold	NOUN
dem-8594	315	3	,	,	PUNCT
dem-8594	315	4	we	we	PRON
dem-8594	315	5	observe	observe	VERB
dem-8594	315	6	that	that	SCONJ
dem-8594	315	7	the	the	DET
dem-8594	315	8	forecast	forecast	NOUN
dem-8594	315	9	based	base	VERB
dem-8594	315	10	on	on	ADP
dem-8594	315	11	implied	imply	VERB
dem-8594	315	12	volatility	volatility	NOUN
dem-8594	315	13	receives	receive	VERB
dem-8594	315	14	a	a	DET
dem-8594	315	15	higher	high	ADJ
dem-8594	315	16	weight	weight	NOUN
dem-8594	315	17	than	than	ADP
dem-8594	315	18	the	the	DET
dem-8594	315	19	forecast	forecast	NOUN
dem-8594	315	20	from	from	ADP
dem-8594	315	21	caviar	caviar	NOUN
dem-8594	315	22	models	model	NOUN
dem-8594	315	23	,	,	PUNCT
dem-8594	315	24	and	and	CCONJ
dem-8594	315	25	in	in	ADP
dem-8594	315	26	the	the	DET
dem-8594	315	27	case	case	NOUN
dem-8594	315	28	of	of	ADP
dem-8594	315	29	oil	oil	NOUN
dem-8594	315	30	implied	imply	VERB
dem-8594	315	31	quantile	quantile	NOUN
dem-8594	315	32	receives	receive	VERB
dem-8594	315	33	a	a	DET
dem-8594	315	34	higher	high	ADJ
dem-8594	315	35	weight	weight	NOUN
dem-8594	315	36	only	only	ADV
dem-8594	315	37	in	in	ADP
dem-8594	315	38	combining	combine	VERB
dem-8594	315	39	forecast	forecast	NOUN
dem-8594	315	40	of	of	ADP
dem-8594	315	41	the	the	DET
dem-8594	315	42	implied	imply	VERB
dem-8594	315	43	quantile	quantile	ADJ
dem-8594	315	44	and	and	CCONJ
dem-8594	315	45	caviar	caviar	ADJ
dem-8594	315	46	-	-	PUNCT
dem-8594	315	47	ad	ad	NOUN
dem-8594	315	48	.	.	PUNCT
dem-8594	316	1	risk	risk	NOUN
dem-8594	316	2	modeling	modeling	NOUN
dem-8594	316	3	of	of	ADP
dem-8594	316	4	commodities	commodity	NOUN
dem-8594	316	5	using	use	VERB
dem-8594	316	6	caviar	caviar	NOUN
dem-8594	316	7	models	model	NOUN
dem-8594	316	8	…	…	PUNCT
dem-8594	316	9	dynamic	dynamic	ADJ
dem-8594	316	10	econometric	econometric	ADJ
dem-8594	316	11	models	model	NOUN
dem-8594	316	12	15	15	NUM
dem-8594	316	13	(	(	PUNCT
dem-8594	316	14	2015	2015	NUM
dem-8594	316	15	)	)	PUNCT
dem-8594	316	16	129–156	129–156	NUM
dem-8594	316	17	149	149	NUM
dem-8594	316	18	table	table	NOUN
dem-8594	316	19	8	8	NUM
dem-8594	316	20	.	.	PUNCT
dem-8594	317	1	estimated	estimate	VERB
dem-8594	317	2	parameters	parameter	NOUN
dem-8594	317	3	of	of	ADP
dem-8594	317	4	linear	linear	ADJ
dem-8594	317	5	combination	combination	NOUN
dem-8594	317	6	method	method	NOUN
dem-8594	317	7	model	model	NOUN
dem-8594	317	8	long	long	ADJ
dem-8594	317	9	position	position	NOUN
dem-8594	317	10	short	short	ADJ
dem-8594	317	11	position	position	NOUN
dem-8594	317	12	0.01	0.01	NUM
dem-8594	317	13	0.05	0.05	NUM
dem-8594	317	14	0.01	0.01	NUM
dem-8594	317	15	0.05	0.05	NUM
dem-8594	317	16	1γ	1γ	NUM
dem-8594	317	17	2γ	2γ	NUM
dem-8594	317	18	3γ	3γ	NUM
dem-8594	317	19	1γ	1γ	NUM
dem-8594	317	20	2γ	2γ	NUM
dem-8594	317	21	3γ	3γ	NUM
dem-8594	317	22	1γ	1γ	NUM
dem-8594	317	23	2γ	2γ	NUM
dem-8594	317	24	3γ	3γ	NUM
dem-8594	317	25	1γ	1γ	NUM
dem-8594	317	26	2γ	2γ	NUM
dem-8594	317	27	3γ	3γ	NUM
dem-8594	317	28	gold	gold	NOUN
dem-8594	317	29	sav	sav	PROPN
dem-8594	317	30	–	–	PUNCT
dem-8594	317	31	0.002	0.002	NUM
dem-8594	317	32	0.826	0.826	NUM
dem-8594	317	33	0.265	0.265	NUM
dem-8594	317	34	–	–	PUNCT
dem-8594	317	35	0.005	0.005	NUM
dem-8594	317	36	1.153	1.153	NUM
dem-8594	317	37	0.104	0.104	NUM
dem-8594	317	38	–	–	PUNCT
dem-8594	317	39	0.009	0.009	NUM
dem-8594	317	40	2.121	2.121	NUM
dem-8594	317	41	–	–	PUNCT
dem-8594	317	42	0.584	0.584	NUM
dem-8594	317	43	–	–	PUNCT
dem-8594	317	44	0.001	0.001	NUM
dem-8594	317	45	1.624	1.624	NUM
dem-8594	317	46	–	–	PUNCT
dem-8594	317	47	0.403	0.403	NUM
dem-8594	317	48	as	as	ADP
dem-8594	317	49	–	–	PUNCT
dem-8594	317	50	0.001	0.001	NUM
dem-8594	317	51	1.091	1.091	NUM
dem-8594	317	52	–	–	PUNCT
dem-8594	317	53	0.025	0.025	NUM
dem-8594	317	54	–	–	PUNCT
dem-8594	317	55	0.005	0.005	NUM
dem-8594	317	56	1.187	1.187	NUM
dem-8594	317	57	0.090	0.090	NUM
dem-8594	317	58	–	–	PUNCT
dem-8594	317	59	0.011	0.011	NUM
dem-8594	317	60	1.571	1.571	NUM
dem-8594	317	61	0.020	0.020	NUM
dem-8594	317	62	–	–	PUNCT
dem-8594	317	63	0.001	0.001	NUM
dem-8594	317	64	1.598	1.598	NUM
dem-8594	317	65	–	–	PUNCT
dem-8594	317	66	0.381	0.381	NUM
dem-8594	317	67	indirect	indirect	ADJ
dem-8594	317	68	garch	garch	NOUN
dem-8594	317	69	–	–	PUNCT
dem-8594	317	70	0.001	0.001	NUM
dem-8594	317	71	1.120	1.120	NUM
dem-8594	317	72	–	–	PUNCT
dem-8594	317	73	0.057	0.057	NUM
dem-8594	317	74	–	–	PUNCT
dem-8594	317	75	0.005	0.005	NUM
dem-8594	317	76	1.057	1.057	NUM
dem-8594	317	77	0.178	0.178	NUM
dem-8594	317	78	–	–	PUNCT
dem-8594	317	79	0.008	0.008	NUM
dem-8594	317	80	2.253	2.253	NUM
dem-8594	317	81	–	–	PUNCT
dem-8594	317	82	0.746	0.746	NUM
dem-8594	317	83	0.000	0.000	NUM
dem-8594	317	84	1.622	1.622	NUM
dem-8594	317	85	–	–	PUNCT
dem-8594	317	86	0.468	0.468	NUM
dem-8594	317	87	ad	ad	NOUN
dem-8594	317	88	0.028	0.028	NUM
dem-8594	317	89	1.215	1.215	NUM
dem-8594	317	90	–	–	PUNCT
dem-8594	317	91	0.956	0.956	NUM
dem-8594	317	92	0.005	0.005	NUM
dem-8594	317	93	1.294	1.294	NUM
dem-8594	317	94	–	–	PUNCT
dem-8594	317	95	0.460	0.460	NUM
dem-8594	317	96	0.027	0.027	NUM
dem-8594	317	97	1.637	1.637	NUM
dem-8594	317	98	–	–	PUNCT
dem-8594	317	99	1.287	1.287	NUM
dem-8594	317	100	0.005	0.005	NUM
dem-8594	317	101	1.188	1.188	NUM
dem-8594	317	102	–	–	PUNCT
dem-8594	317	103	0.378	0.378	NUM
dem-8594	317	104	oil	oil	NOUN
dem-8594	317	105	sav	sav	NOUN
dem-8594	317	106	–	–	PUNCT
dem-8594	317	107	0.010	0.010	NUM
dem-8594	317	108	0.650	0.650	NUM
dem-8594	317	109	0.572	0.572	NUM
dem-8594	317	110	–	–	PUNCT
dem-8594	317	111	0.008	0.008	NUM
dem-8594	317	112	0.581	0.581	NUM
dem-8594	317	113	0.639	0.639	NUM
dem-8594	317	114	–	–	PUNCT
dem-8594	317	115	0.011	0.011	NUM
dem-8594	317	116	0.593	0.593	NUM
dem-8594	317	117	0.601	0.601	NUM
dem-8594	317	118	–	–	PUNCT
dem-8594	317	119	0.013	0.013	NUM
dem-8594	317	120	0.907	0.907	NUM
dem-8594	317	121	0.454	0.454	NUM
dem-8594	317	122	as	as	ADP
dem-8594	317	123	–	–	PUNCT
dem-8594	317	124	0.006	0.006	NUM
dem-8594	317	125	0.561	0.561	NUM
dem-8594	317	126	0.575	0.575	NUM
dem-8594	317	127	–	–	PUNCT
dem-8594	317	128	0.006	0.006	NUM
dem-8594	317	129	0.296	0.296	NUM
dem-8594	317	130	0.863	0.863	NUM
dem-8594	317	131	–	–	PUNCT
dem-8594	317	132	0.008	0.008	NUM
dem-8594	317	133	0.198	0.198	NUM
dem-8594	317	134	0.950	0.950	NUM
dem-8594	317	135	–	–	PUNCT
dem-8594	317	136	0.007	0.007	NUM
dem-8594	317	137	0.447	0.447	NUM
dem-8594	317	138	0.758	0.758	NUM
dem-8594	317	139	indirect	indirect	ADJ
dem-8594	317	140	garch	garch	NOUN
dem-8594	317	141	–	–	PUNCT
dem-8594	317	142	0.014	0.014	NUM
dem-8594	317	143	0.617	0.617	NUM
dem-8594	317	144	0.686	0.686	NUM
dem-8594	317	145	–	–	PUNCT
dem-8594	317	146	0.007	0.007	NUM
dem-8594	317	147	0.201	0.201	NUM
dem-8594	317	148	0.969	0.969	NUM
dem-8594	317	149	–	–	PUNCT
dem-8594	317	150	0.010	0.010	NUM
dem-8594	317	151	0.492	0.492	NUM
dem-8594	317	152	0.704	0.704	NUM
dem-8594	317	153	–	–	PUNCT
dem-8594	317	154	0.012	0.012	NUM
dem-8594	317	155	0.943	0.943	NUM
dem-8594	317	156	0.417	0.417	NUM
dem-8594	317	157	ad	ad	NOUN
dem-8594	317	158	–	–	PUNCT
dem-8594	317	159	0.016	0.016	NUM
dem-8594	317	160	1.338	1.338	NUM
dem-8594	317	161	0.035	0.035	NUM
dem-8594	317	162	–	–	PUNCT
dem-8594	317	163	0.015	0.015	NUM
dem-8594	317	164	1.314	1.314	NUM
dem-8594	317	165	0.162	0.162	NUM
dem-8594	317	166	–	–	PUNCT
dem-8594	317	167	0.029	0.029	NUM
dem-8594	317	168	1.235	1.235	NUM
dem-8594	317	169	0.236	0.236	NUM
dem-8594	317	170	–	–	PUNCT
dem-8594	317	171	0.123	0.123	NUM
dem-8594	317	172	1.476	1.476	NUM
dem-8594	317	173	3.111	3.111	NUM
dem-8594	317	174	note	note	NOUN
dem-8594	317	175	:	:	PUNCT
dem-8594	317	176	0.01	0.01	NUM
dem-8594	317	177	;	;	PUNCT
dem-8594	317	178	0.05	0.05	NUM
dem-8594	317	179	–	–	PUNCT
dem-8594	317	180	α	α	NUM
dem-8594	317	181	-	-	PUNCT
dem-8594	317	182	significance	significance	NOUN
dem-8594	317	183	level	level	NOUN
dem-8594	317	184	of	of	ADP
dem-8594	317	185	var	var	NOUN
dem-8594	317	186	;	;	PUNCT
dem-8594	317	187	bolded	bolde	VERB
dem-8594	317	188	values	value	NOUN
dem-8594	317	189	indicate	indicate	VERB
dem-8594	317	190	models	model	NOUN
dem-8594	317	191	with	with	ADP
dem-8594	317	192	higher	high	ADJ
dem-8594	317	193	value	value	NOUN
dem-8594	317	194	of	of	ADP
dem-8594	317	195	parameter	parameter	NOUN
dem-8594	317	196	for	for	ADP
dem-8594	317	197	forecasts	forecast	NOUN
dem-8594	317	198	derived	derive	VERB
dem-8594	317	199	on	on	ADP
dem-8594	317	200	the	the	DET
dem-8594	317	201	basis	basis	NOUN
dem-8594	317	202	of	of	ADP
dem-8594	317	203	implied	imply	VERB
dem-8594	317	204	quantile	quantile	ADJ
dem-8594	317	205	model	model	NOUN
dem-8594	317	206	for	for	ADP
dem-8594	317	207	determining	determine	VERB
dem-8594	317	208	the	the	DET
dem-8594	317	209	coefficient	coefficient	NOUN
dem-8594	317	210	λ	λ	SCONJ
dem-8594	317	211	the	the	DET
dem-8594	317	212	ewqr	ewqr	PROPN
dem-8594	317	213	method	method	NOUN
dem-8594	317	214	is	be	AUX
dem-8594	317	215	applied	apply	VERB
dem-8594	317	216	.	.	PUNCT
dem-8594	318	1	ewqr	ewqr	PROPN
dem-8594	318	2	estimation	estimation	NOUN
dem-8594	318	3	was	be	AUX
dem-8594	318	4	carried	carry	VERB
dem-8594	318	5	out	out	ADP
dem-8594	318	6	on	on	ADP
dem-8594	318	7	the	the	DET
dem-8594	318	8	in	in	ADP
dem-8594	318	9	-	-	PUNCT
dem-8594	318	10	sample	sample	NOUN
dem-8594	318	11	data	datum	NOUN
dem-8594	318	12	with	with	ADP
dem-8594	318	13	the	the	DET
dem-8594	318	14	last	last	ADJ
dem-8594	318	15	500	500	NUM
dem-8594	318	16	observations	observation	NOUN
dem-8594	318	17	excluded	exclude	VERB
dem-8594	318	18	and	and	CCONJ
dem-8594	318	19	considering	consider	VERB
dem-8594	318	20	a	a	DET
dem-8594	318	21	grid	grid	NOUN
dem-8594	318	22	values	value	NOUN
dem-8594	318	23	for	for	ADP
dem-8594	318	24	λ	λ	NOUN
dem-8594	318	25	between	between	ADP
dem-8594	318	26	0.97	0.97	NUM
dem-8594	318	27	and	and	CCONJ
dem-8594	318	28	1	1	NUM
dem-8594	318	29	with	with	ADP
dem-8594	318	30	a	a	DET
dem-8594	318	31	step	step	NOUN
dem-8594	318	32	size	size	NOUN
dem-8594	318	33	of	of	ADP
dem-8594	318	34	0.001	0.001	NUM
dem-8594	318	35	.	.	PUNCT
dem-8594	319	1	the	the	DET
dem-8594	319	2	smallest	small	ADJ
dem-8594	319	3	value	value	NOUN
dem-8594	319	4	of	of	ADP
dem-8594	319	5	the	the	DET
dem-8594	319	6	function	function	NOUN
dem-8594	319	7	(	(	PUNCT
dem-8594	319	8	28)–(29	28)–(29	NUM
dem-8594	319	9	)	)	PUNCT
dem-8594	319	10	was	be	AUX
dem-8594	319	11	the	the	DET
dem-8594	319	12	criterion	criterion	NOUN
dem-8594	319	13	to	to	PART
dem-8594	319	14	determine	determine	VERB
dem-8594	319	15	the	the	DET
dem-8594	319	16	optimum	optimum	ADJ
dem-8594	319	17	values	value	NOUN
dem-8594	319	18	for	for	ADP
dem-8594	319	19	λ	λ	PROPN
dem-8594	319	20	for	for	ADP
dem-8594	319	21	the	the	DET
dem-8594	319	22	analysed	analyse	VERB
dem-8594	319	23	significance	significance	NOUN
dem-8594	319	24	levels	level	NOUN
dem-8594	319	25	of	of	ADP
dem-8594	319	26	var	var	NOUN
dem-8594	319	27	(	(	PUNCT
dem-8594	319	28	α	α	NOUN
dem-8594	319	29	)	)	PUNCT
dem-8594	319	30	.	.	PUNCT
dem-8594	320	1	the	the	DET
dem-8594	320	2	discount	discount	NOUN
dem-8594	320	3	factor	factor	NOUN
dem-8594	320	4	λ	λ	PROPN
dem-8594	320	5	for	for	ADP
dem-8594	320	6	long	long	ADJ
dem-8594	320	7	and	and	CCONJ
dem-8594	320	8	short	short	ADJ
dem-8594	320	9	positions	position	NOUN
dem-8594	320	10	and	and	CCONJ
dem-8594	320	11	considered	consider	VERB
dem-8594	320	12	significance	significance	NOUN
dem-8594	320	13	levels	level	NOUN
dem-8594	320	14	are	be	AUX
dem-8594	320	15	shown	show	VERB
dem-8594	320	16	in	in	ADP
dem-8594	320	17	the	the	DET
dem-8594	320	18	table	table	NOUN
dem-8594	320	19	(	(	PUNCT
dem-8594	320	20	10	10	NUM
dem-8594	320	21	)	)	PUNCT
dem-8594	320	22	.	.	PUNCT
dem-8594	321	1	the	the	DET
dem-8594	321	2	lower	low	ADJ
dem-8594	321	3	values	value	NOUN
dem-8594	321	4	for	for	ADP
dem-8594	321	5	long	long	ADJ
dem-8594	321	6	positions	position	NOUN
dem-8594	321	7	mean	mean	VERB
dem-8594	321	8	that	that	SCONJ
dem-8594	321	9	the	the	DET
dem-8594	321	10	0.01	0.01	NUM
dem-8594	321	11	and	and	CCONJ
dem-8594	321	12	the	the	DET
dem-8594	321	13	0.05	0.05	NUM
dem-8594	321	14	quantile	quantile	NOUN
dem-8594	321	15	change	change	NOUN
dem-8594	321	16	more	more	ADV
dem-8594	321	17	dynamically	dynamically	ADV
dem-8594	321	18	over	over	ADP
dem-8594	321	19	time	time	NOUN
dem-8594	321	20	than	than	ADP
dem-8594	321	21	the	the	DET
dem-8594	321	22	0.01	0.01	NUM
dem-8594	321	23	and	and	CCONJ
dem-8594	321	24	the	the	DET
dem-8594	321	25	0.05	0.05	NUM
dem-8594	321	26	quantile	quantile	NOUN
dem-8594	321	27	in	in	ADP
dem-8594	321	28	the	the	DET
dem-8594	321	29	case	case	NOUN
dem-8594	321	30	of	of	ADP
dem-8594	321	31	a	a	DET
dem-8594	321	32	short	short	ADJ
dem-8594	321	33	position	position	NOUN
dem-8594	321	34	.	.	PUNCT
dem-8594	322	1	table	table	NOUN
dem-8594	322	2	9	9	NUM
dem-8594	322	3	.	.	PUNCT
dem-8594	323	1	estimated	estimate	VERB
dem-8594	323	2	weights	weight	NOUN
dem-8594	323	3	of	of	ADP
dem-8594	323	4	weighted	weight	VERB
dem-8594	323	5	averaged	average	VERB
dem-8594	323	6	combining	combine	VERB
dem-8594	323	7	method	method	NOUN
dem-8594	323	8	instrument	instrument	NOUN
dem-8594	323	9	model	model	NOUN
dem-8594	323	10	long	long	ADJ
dem-8594	323	11	position	position	NOUN
dem-8594	323	12	short	short	ADJ
dem-8594	323	13	position	position	NOUN
dem-8594	323	14	α	α	NOUN
dem-8594	323	15	0.01	0.01	NUM
dem-8594	323	16	0.05	0.05	NUM
dem-8594	323	17	0.01	0.01	NUM
dem-8594	323	18	0.05	0.05	NUM
dem-8594	323	19	gold	gold	NOUN
dem-8594	323	20	sav	sav	PROPN
dem-8594	323	21	0.5996	0.5996	NUM
dem-8594	323	22	0.7290	0.7290	NUM
dem-8594	323	23	0.8339	0.8339	NUM
dem-8594	323	24	0.9066	0.9066	NUM
dem-8594	323	25	as	as	ADP
dem-8594	323	26	0.7771	0.7771	NUM
dem-8594	323	27	0.6058	0.6058	NUM
dem-8594	323	28	0.7016	0.7016	NUM
dem-8594	323	29	0.9067	0.9067	NUM
dem-8594	323	30	indirect	indirect	ADJ
dem-8594	323	31	garch	garch	NOUN
dem-8594	323	32	0.5198	0.5198	NUM
dem-8594	323	33	0.7028	0.7028	NUM
dem-8594	323	34	0.7731	0.7731	NUM
dem-8594	323	35	0.9281	0.9281	NUM
dem-8594	323	36	ad	ad	NOUN
dem-8594	323	37	0.9519	0.9519	NUM
dem-8594	323	38	0.9696	0.9696	NUM
dem-8594	323	39	0.9760	0.9760	NUM
dem-8594	323	40	0.9762	0.9762	NUM
dem-8594	323	41	oil	oil	NOUN
dem-8594	323	42	sav	sav	NOUN
dem-8594	323	43	0.3193	0.3193	NUM
dem-8594	323	44	0.3928	0.3928	NUM
dem-8594	323	45	0.4083	0.4083	NUM
dem-8594	323	46	0.2192	0.2192	NUM
dem-8594	323	47	as	as	ADP
dem-8594	323	48	0.0822	0.0822	NUM
dem-8594	323	49	0.2564	0.2564	NUM
dem-8594	323	50	0.0439	0.0439	NUM
dem-8594	323	51	0.0966	0.0966	NUM
dem-8594	323	52	indirect	indirect	ADJ
dem-8594	323	53	garch	garch	NOUN
dem-8594	323	54	0.3288	0.3288	NUM
dem-8594	323	55	0.0832	0.0832	NUM
dem-8594	323	56	0.3052	0.3052	NUM
dem-8594	323	57	0.2480	0.2480	NUM
dem-8594	323	58	ad	ad	NOUN
dem-8594	323	59	0.9770	0.9770	NUM
dem-8594	323	60	0.9280	0.9280	NUM
dem-8594	323	61	0.9071	0.9071	NUM
dem-8594	323	62	0.9295	0.9295	NUM
dem-8594	323	63	note	note	NOUN
dem-8594	323	64	:	:	PUNCT
dem-8594	323	65	0.01	0.01	NUM
dem-8594	323	66	;	;	PUNCT
dem-8594	323	67	0.05	0.05	NUM
dem-8594	323	68	–	–	PUNCT
dem-8594	323	69	α	α	NUM
dem-8594	323	70	-	-	PUNCT
dem-8594	323	71	significance	significance	NOUN
dem-8594	323	72	level	level	NOUN
dem-8594	323	73	of	of	ADP
dem-8594	323	74	var	var	NOUN
dem-8594	323	75	;	;	PUNCT
dem-8594	323	76	bolded	bolde	VERB
dem-8594	323	77	values	value	NOUN
dem-8594	323	78	indicate	indicate	VERB
dem-8594	323	79	models	model	NOUN
dem-8594	323	80	with	with	ADP
dem-8594	323	81	higher	high	ADJ
dem-8594	323	82	weight	weight	NOUN
dem-8594	323	83	ω	ω	NUM
dem-8594	323	84	assigned	assign	VERB
dem-8594	323	85	to	to	ADP
dem-8594	323	86	forecasts	forecast	NOUN
dem-8594	323	87	from	from	ADP
dem-8594	323	88	implied	imply	VERB
dem-8594	323	89	quantile	quantile	ADJ
dem-8594	323	90	model	model	NOUN
dem-8594	323	91	ewa	ewa	PROPN
dem-8594	323	92	ratuszny	ratuszny	VERB
dem-8594	323	93	dynamic	dynamic	ADJ
dem-8594	323	94	econometric	econometric	ADJ
dem-8594	323	95	models	model	NOUN
dem-8594	323	96	15	15	NUM
dem-8594	323	97	(	(	PUNCT
dem-8594	323	98	2015	2015	NUM
dem-8594	323	99	)	)	PUNCT
dem-8594	323	100	129–156	129–156	NUM
dem-8594	323	101	150	150	NUM
dem-8594	323	102	table	table	NOUN
dem-8594	323	103	10	10	NUM
dem-8594	323	104	.	.	PUNCT
dem-8594	324	1	estimated	estimate	VERB
dem-8594	324	2	exponential	exponential	ADJ
dem-8594	324	3	weight	weight	NOUN
dem-8594	324	4	λ	λ	PROPN
dem-8594	324	5	instrument	instrument	NOUN
dem-8594	324	6	model	model	NOUN
dem-8594	324	7	long	long	ADJ
dem-8594	324	8	position	position	NOUN
dem-8594	324	9	short	short	ADJ
dem-8594	324	10	position	position	NOUN
dem-8594	324	11	α	α	NOUN
dem-8594	324	12	-	-	PUNCT
dem-8594	324	13	significance	significance	NOUN
dem-8594	324	14	level	level	NOUN
dem-8594	324	15	of	of	ADP
dem-8594	324	16	var	var	NOUN
dem-8594	324	17	0.01	0.01	NUM
dem-8594	324	18	0.05	0.05	NUM
dem-8594	324	19	0.01	0.01	NUM
dem-8594	324	20	0.05	0.05	NUM
dem-8594	324	21	gold	gold	NOUN
dem-8594	324	22	sav	sav	PROPN
dem-8594	324	23	0.996	0.996	NUM
dem-8594	324	24	0.996	0.996	NUM
dem-8594	324	25	1.000	1.000	NUM
dem-8594	324	26	1.000	1.000	NUM
dem-8594	324	27	as	as	ADP
dem-8594	324	28	1.000	1.000	NUM
dem-8594	324	29	0.982	0.982	NUM
dem-8594	324	30	1.000	1.000	NUM
dem-8594	324	31	1.000	1.000	NUM
dem-8594	324	32	indirect	indirect	ADJ
dem-8594	324	33	garch	garch	NOUN
dem-8594	324	34	1.000	1.000	NUM
dem-8594	324	35	0.991	0.991	NUM
dem-8594	324	36	0.993	0.993	NUM
dem-8594	324	37	1.000	1.000	NUM
dem-8594	324	38	ad	ad	NOUN
dem-8594	324	39	0.991	0.991	NUM
dem-8594	324	40	1.000	1.000	NUM
dem-8594	324	41	1.000	1.000	NUM
dem-8594	324	42	0.995	0.995	NUM
dem-8594	324	43	oil	oil	NOUN
dem-8594	324	44	sav	sav	NOUN
dem-8594	324	45	0.970	0.970	NUM
dem-8594	324	46	0.998	0.998	NUM
dem-8594	324	47	1.000	1.000	NUM
dem-8594	324	48	0.999	0.999	NUM
dem-8594	324	49	as	as	ADP
dem-8594	324	50	1.000	1.000	NUM
dem-8594	324	51	0.998	0.998	NUM
dem-8594	324	52	1.000	1.000	NUM
dem-8594	324	53	1.000	1.000	NUM
dem-8594	324	54	indirect	indirect	ADJ
dem-8594	324	55	garch	garch	NOUN
dem-8594	324	56	1.000	1.000	NUM
dem-8594	324	57	0.998	0.998	NUM
dem-8594	324	58	1.000	1.000	NUM
dem-8594	324	59	0.998	0.998	NUM
dem-8594	324	60	ad	ad	NOUN
dem-8594	324	61	0.993	0.993	NUM
dem-8594	324	62	0.981	0.981	NUM
dem-8594	324	63	0.997	0.997	NUM
dem-8594	324	64	1.000	1.000	NUM
dem-8594	324	65	the	the	DET
dem-8594	324	66	estimated	estimate	VERB
dem-8594	324	67	values	value	NOUN
dem-8594	324	68	of	of	ADP
dem-8594	324	69	weights	weight	NOUN
dem-8594	324	70	for	for	ADP
dem-8594	324	71	weighted	weighted	ADJ
dem-8594	324	72	averaged	average	VERB
dem-8594	324	73	combining	combine	VERB
dem-8594	324	74	optimized	optimize	VERB
dem-8594	324	75	using	use	VERB
dem-8594	324	76	exponential	exponential	ADJ
dem-8594	324	77	weighting	weighting	NOUN
dem-8594	324	78	is	be	AUX
dem-8594	324	79	included	include	VERB
dem-8594	324	80	in	in	ADP
dem-8594	324	81	the	the	DET
dem-8594	324	82	table	table	NOUN
dem-8594	324	83	(	(	PUNCT
dem-8594	324	84	11	11	NUM
dem-8594	324	85	)	)	PUNCT
dem-8594	324	86	.	.	PUNCT
dem-8594	325	1	we	we	PRON
dem-8594	325	2	see	see	VERB
dem-8594	325	3	the	the	DET
dem-8594	325	4	opposite	opposite	ADJ
dem-8594	325	5	situation	situation	NOUN
dem-8594	325	6	than	than	ADP
dem-8594	325	7	in	in	ADP
dem-8594	325	8	the	the	DET
dem-8594	325	9	case	case	NOUN
dem-8594	325	10	of	of	ADP
dem-8594	325	11	weighted	weight	VERB
dem-8594	325	12	averaged	average	VERB
dem-8594	325	13	combining	combine	VERB
dem-8594	325	14	without	without	ADP
dem-8594	325	15	discounting	discount	VERB
dem-8594	325	16	factor	factor	NOUN
dem-8594	325	17	.	.	PUNCT
dem-8594	326	1	in	in	ADP
dem-8594	326	2	the	the	DET
dem-8594	326	3	considered	consider	VERB
dem-8594	326	4	combinations	combination	NOUN
dem-8594	326	5	,	,	PUNCT
dem-8594	326	6	the	the	DET
dem-8594	326	7	forecasts	forecast	NOUN
dem-8594	326	8	from	from	ADP
dem-8594	326	9	the	the	DET
dem-8594	326	10	caviar	caviar	NOUN
dem-8594	326	11	models	model	NOUN
dem-8594	326	12	receive	receive	VERB
dem-8594	326	13	a	a	DET
dem-8594	326	14	significantly	significantly	ADV
dem-8594	326	15	higher	high	ADJ
dem-8594	326	16	weight	weight	NOUN
dem-8594	326	17	(	(	PUNCT
dem-8594	326	18	93.0	93.0	NUM
dem-8594	326	19	>	>	PRON
dem-8594	326	20	)	)	PUNCT
dem-8594	326	21	.	.	PUNCT
dem-8594	327	1	table	table	NOUN
dem-8594	327	2	11	11	NUM
dem-8594	327	3	.	.	PUNCT
dem-8594	328	1	estimated	estimate	VERB
dem-8594	328	2	weights	weight	NOUN
dem-8594	328	3	of	of	ADP
dem-8594	328	4	weighted	weight	VERB
dem-8594	328	5	averaged	average	VERB
dem-8594	328	6	combining	combine	VERB
dem-8594	328	7	optimized	optimize	VERB
dem-8594	328	8	using	use	VERB
dem-8594	328	9	exponential	exponential	ADJ
dem-8594	328	10	weighting	weighting	NOUN
dem-8594	328	11	instrument	instrument	NOUN
dem-8594	328	12	model	model	NOUN
dem-8594	328	13	long	long	ADJ
dem-8594	328	14	position	position	NOUN
dem-8594	328	15	short	short	ADJ
dem-8594	328	16	position	position	NOUN
dem-8594	328	17	α	α	NOUN
dem-8594	328	18	-	-	PUNCT
dem-8594	328	19	significance	significance	NOUN
dem-8594	328	20	level	level	NOUN
dem-8594	328	21	of	of	ADP
dem-8594	328	22	var	var	NOUN
dem-8594	328	23	0.01	0.01	NUM
dem-8594	328	24	0.05	0.05	NUM
dem-8594	328	25	0.01	0.01	NUM
dem-8594	328	26	0.05	0.05	NUM
dem-8594	328	27	gold	gold	NOUN
dem-8594	328	28	sav	sav	PROPN
dem-8594	328	29	0.008	0.008	NUM
dem-8594	328	30	0.026	0.026	NUM
dem-8594	328	31	0.009	0.009	NUM
dem-8594	328	32	0.036	0.036	NUM
dem-8594	328	33	as	as	ADP
dem-8594	328	34	0.007	0.007	NUM
dem-8594	328	35	0.028	0.028	NUM
dem-8594	328	36	0.009	0.009	NUM
dem-8594	328	37	0.036	0.036	NUM
dem-8594	328	38	indirect	indirect	ADJ
dem-8594	328	39	garch	garch	NOUN
dem-8594	328	40	0.008	0.008	NUM
dem-8594	328	41	0.028	0.028	NUM
dem-8594	328	42	0.009	0.009	NUM
dem-8594	328	43	0.037	0.037	NUM
dem-8594	328	44	ad	ad	NOUN
dem-8594	328	45	0.007	0.007	NUM
dem-8594	328	46	0.023	0.023	NUM
dem-8594	328	47	0.009	0.009	NUM
dem-8594	328	48	0.036	0.036	NUM
dem-8594	328	49	oil	oil	NOUN
dem-8594	328	50	sav	sav	PROPN
dem-8594	328	51	0.016	0.016	NUM
dem-8594	328	52	0.060	0.060	NUM
dem-8594	328	53	0.019	0.019	NUM
dem-8594	328	54	0.062	0.062	NUM
dem-8594	328	55	as	as	ADP
dem-8594	328	56	0.016	0.016	NUM
dem-8594	328	57	0.058	0.058	NUM
dem-8594	328	58	0.016	0.016	NUM
dem-8594	328	59	0.058	0.058	NUM
dem-8594	328	60	indirect	indirect	ADJ
dem-8594	328	61	garch	garch	NOUN
dem-8594	328	62	0.015	0.015	NUM
dem-8594	328	63	0.063	0.063	NUM
dem-8594	328	64	0.018	0.018	NUM
dem-8594	328	65	0.063	0.063	NUM
dem-8594	328	66	ad	ad	NOUN
dem-8594	328	67	0.015	0.015	NUM
dem-8594	328	68	0.062	0.062	NUM
dem-8594	328	69	0.025	0.025	NUM
dem-8594	328	70	0.066	0.066	NUM
dem-8594	328	71	results	result	NOUN
dem-8594	328	72	of	of	ADP
dem-8594	328	73	measures	measure	NOUN
dem-8594	328	74	are	be	AUX
dem-8594	328	75	presented	present	VERB
dem-8594	328	76	in	in	ADP
dem-8594	328	77	tables	table	NOUN
dem-8594	328	78	(	(	PUNCT
dem-8594	328	79	12	12	NUM
dem-8594	328	80	)	)	PUNCT
dem-8594	328	81	for	for	ADP
dem-8594	328	82	gold	gold	NOUN
dem-8594	328	83	and	and	CCONJ
dem-8594	328	84	(	(	PUNCT
dem-8594	328	85	13	13	NUM
dem-8594	328	86	)	)	PUNCT
dem-8594	328	87	for	for	ADP
dem-8594	328	88	oil	oil	NOUN
dem-8594	328	89	.	.	PUNCT
dem-8594	329	1	conclusions	conclusion	NOUN
dem-8594	329	2	in	in	ADP
dem-8594	329	3	the	the	DET
dem-8594	329	4	present	present	ADJ
dem-8594	329	5	study	study	NOUN
dem-8594	329	6	the	the	DET
dem-8594	329	7	caviar	caviar	NOUN
dem-8594	329	8	models	model	NOUN
dem-8594	329	9	,	,	PUNCT
dem-8594	329	10	the	the	DET
dem-8594	329	11	encompassing	encompass	VERB
dem-8594	329	12	method	method	NOUN
dem-8594	329	13	and	and	CCONJ
dem-8594	329	14	the	the	DET
dem-8594	329	15	combined	combine	VERB
dem-8594	329	16	forecasts	forecast	NOUN
dem-8594	329	17	methods	method	NOUN
dem-8594	329	18	are	be	AUX
dem-8594	329	19	applied	apply	VERB
dem-8594	329	20	to	to	PART
dem-8594	329	21	determine	determine	VERB
dem-8594	329	22	the	the	DET
dem-8594	329	23	risk	risk	NOUN
dem-8594	329	24	measure	measure	NOUN
dem-8594	329	25	var	var	NOUN
dem-8594	329	26	.	.	PUNCT
dem-8594	330	1	since	since	SCONJ
dem-8594	330	2	none	none	NOUN
dem-8594	330	3	of	of	ADP
dem-8594	330	4	the	the	DET
dem-8594	330	5	forecasts	forecast	NOUN
dem-8594	330	6	is	be	AUX
dem-8594	330	7	dominant	dominant	ADJ
dem-8594	330	8	and	and	CCONJ
dem-8594	330	9	there	there	PRON
dem-8594	330	10	is	be	VERB
dem-8594	330	11	no	no	DET
dem-8594	330	12	universally	universally	ADV
dem-8594	330	13	accepted	accept	VERB
dem-8594	330	14	ranking	ranking	NOUN
dem-8594	330	15	of	of	ADP
dem-8594	330	16	the	the	DET
dem-8594	330	17	various	various	ADJ
dem-8594	330	18	methods	method	NOUN
dem-8594	330	19	,	,	PUNCT
dem-8594	330	20	we	we	PRON
dem-8594	330	21	decided	decide	VERB
dem-8594	330	22	to	to	PART
dem-8594	330	23	check	check	VERB
dem-8594	330	24	if	if	SCONJ
dem-8594	330	25	the	the	DET
dem-8594	330	26	encompassing	encompass	VERB
dem-8594	330	27	method	method	NOUN
dem-8594	330	28	or	or	CCONJ
dem-8594	330	29	the	the	DET
dem-8594	330	30	forecast	forecast	NOUN
dem-8594	330	31	combination	combination	NOUN
dem-8594	330	32	methods	method	NOUN
dem-8594	330	33	may	may	AUX
dem-8594	330	34	reduce	reduce	VERB
dem-8594	330	35	the	the	DET
dem-8594	330	36	risk	risk	NOUN
dem-8594	330	37	of	of	ADP
dem-8594	330	38	a	a	DET
dem-8594	330	39	large	large	ADJ
dem-8594	330	40	forecast	forecast	NOUN
dem-8594	330	41	error	error	NOUN
dem-8594	330	42	compared	compare	VERB
dem-8594	330	43	to	to	ADP
dem-8594	330	44	individual	individual	ADJ
dem-8594	330	45	forecast	forecast	NOUN
dem-8594	330	46	.	.	PUNCT
dem-8594	331	1	risk	risk	NOUN
dem-8594	331	2	modeling	modeling	NOUN
dem-8594	331	3	of	of	ADP
dem-8594	331	4	commodities	commodity	NOUN
dem-8594	331	5	using	use	VERB
dem-8594	331	6	caviar	caviar	NOUN
dem-8594	331	7	models	model	NOUN
dem-8594	331	8	…	…	PUNCT
dem-8594	331	9	dynamic	dynamic	ADJ
dem-8594	331	10	econometric	econometric	ADJ
dem-8594	331	11	models	model	NOUN
dem-8594	331	12	15	15	NUM
dem-8594	331	13	(	(	PUNCT
dem-8594	331	14	2015	2015	NUM
dem-8594	331	15	)	)	PUNCT
dem-8594	331	16	129–156	129–156	NUM
dem-8594	331	17	151	151	NUM
dem-8594	331	18	table	table	NOUN
dem-8594	331	19	12	12	NUM
dem-8594	331	20	.	.	PUNCT
dem-8594	332	1	gold	gold	NOUN
dem-8594	332	2	.	.	PUNCT
dem-8594	333	1	loss	loss	NOUN
dem-8594	333	2	functions	function	NOUN
dem-8594	333	3	for	for	ADP
dem-8594	333	4	post	post	PROPN
dem-8594	333	5	sample	sample	PROPN
dem-8594	333	6	model	model	PROPN
dem-8594	333	7	/	/	SYM
dem-8594	333	8	metoda	metoda	PROPN
dem-8594	333	9	bl	bl	PROPN
dem-8594	333	10	fl	fl	INTJ
dem-8594	333	11	rl	rl	PROPN
dem-8594	333	12	long	long	ADV
dem-8594	333	13	short	short	ADJ
dem-8594	333	14	long	long	ADV
dem-8594	333	15	short	short	ADJ
dem-8594	333	16	long	long	ADJ
dem-8594	333	17	short	short	ADJ
dem-8594	333	18	position	position	NOUN
dem-8594	333	19	position	position	NOUN
dem-8594	333	20	position	position	NOUN
dem-8594	333	21	position	position	NOUN
dem-8594	333	22	position	position	NOUN
dem-8594	333	23	position	position	NOUN
dem-8594	333	24	α	α	NOUN
dem-8594	333	25	0.01	0.01	NUM
dem-8594	333	26	0.05	0.05	NUM
dem-8594	333	27	0.01	0.01	NUM
dem-8594	333	28	0.05	0.05	NUM
dem-8594	333	29	0.01	0.01	NUM
dem-8594	333	30	0.05	0.05	NUM
dem-8594	333	31	0.01	0.01	NUM
dem-8594	333	32	0.05	0.05	NUM
dem-8594	333	33	0.01	0.01	NUM
dem-8594	333	34	0.05	0.05	NUM
dem-8594	333	35	0.01	0.01	NUM
dem-8594	333	36	0.05	0.05	NUM
dem-8594	333	37	iq	iq	NOUN
dem-8594	333	38	15	15	NUM
dem-8594	333	39	40	40	NUM
dem-8594	333	40	8	8	NUM
dem-8594	333	41	32	32	NUM
dem-8594	333	42	87.22	87.22	NUM
dem-8594	333	43	153.25	153.25	NUM
dem-8594	333	44	23.33	23.33	NUM
dem-8594	333	45	56.22	56.22	NUM
dem-8594	333	46	76.02	76.02	NUM
dem-8594	333	47	146.41	146.41	NUM
dem-8594	333	48	13.73	13.73	NUM
dem-8594	333	49	50.34	50.34	NUM
dem-8594	333	50	sav	sav	NOUN
dem-8594	333	51	caviar	caviar	NOUN
dem-8594	333	52	7	7	NUM
dem-8594	333	53	35	35	NUM
dem-8594	333	54	2	2	NUM
dem-8594	333	55	16	16	NUM
dem-8594	333	56	63.80	63.80	NUM
dem-8594	333	57	133.08	133.08	NUM
dem-8594	333	58	17.27	17.27	NUM
dem-8594	333	59	35.02	35.02	NUM
dem-8594	333	60	49.26	49.26	NUM
dem-8594	333	61	124.91	124.91	NUM
dem-8594	333	62	4.60	4.60	NUM
dem-8594	333	63	27.46	27.46	NUM
dem-8594	333	64	plugin	plugin	NOUN
dem-8594	333	65	13	13	NUM
dem-8594	333	66	40	40	NUM
dem-8594	333	67	10	10	NUM
dem-8594	333	68	35	35	NUM
dem-8594	333	69	66.86	66.86	NUM
dem-8594	333	70	144.30	144.30	NUM
dem-8594	333	71	25.66	25.66	NUM
dem-8594	333	72	58.53	58.53	NUM
dem-8594	333	73	54.80	54.80	NUM
dem-8594	333	74	137.31	137.31	NUM
dem-8594	333	75	16.25	16.25	NUM
dem-8594	333	76	52.83	52.83	NUM
dem-8594	333	77	linearcomb	linearcomb	NOUN
dem-8594	333	78	10	10	NUM
dem-8594	333	79	43	43	NUM
dem-8594	333	80	12	12	NUM
dem-8594	333	81	29	29	NUM
dem-8594	333	82	75.95	75.95	NUM
dem-8594	333	83	160.81	160.81	NUM
dem-8594	333	84	28.79	28.79	NUM
dem-8594	333	85	52.09	52.09	NUM
dem-8594	333	86	63.61	63.61	NUM
dem-8594	333	87	154.35	154.35	NUM
dem-8594	333	88	20.01	20.01	NUM
dem-8594	333	89	46.00	46.00	NUM
dem-8594	333	90	simpavg	simpavg	NOUN
dem-8594	333	91	10	10	NUM
dem-8594	333	92	35	35	NUM
dem-8594	333	93	3	3	NUM
dem-8594	333	94	20	20	NUM
dem-8594	333	95	73.65	73.65	NUM
dem-8594	333	96	139.98	139.98	NUM
dem-8594	333	97	17.96	17.96	NUM
dem-8594	333	98	41.08	41.08	NUM
dem-8594	333	99	60.78	60.78	NUM
dem-8594	333	100	132.44	132.44	NUM
dem-8594	333	101	6.79	6.79	NUM
dem-8594	333	102	34.31	34.31	NUM
dem-8594	333	103	wtdavg	wtdavg	NOUN
dem-8594	333	104	10	10	NUM
dem-8594	333	105	38	38	NUM
dem-8594	333	106	5	5	NUM
dem-8594	333	107	32	32	NUM
dem-8594	333	108	75.23	75.23	NUM
dem-8594	333	109	146.53	146.53	NUM
dem-8594	333	110	20.08	20.08	NUM
dem-8594	333	111	56.27	56.27	NUM
dem-8594	333	112	62.67	62.67	NUM
dem-8594	333	113	139.32	139.32	NUM
dem-8594	333	114	9.93	9.93	NUM
dem-8594	333	115	50.40	50.40	NUM
dem-8594	333	116	wtdavgexp	wtdavgexp	NOUN
dem-8594	333	117	7	7	NUM
dem-8594	333	118	35	35	NUM
dem-8594	333	119	2	2	NUM
dem-8594	333	120	16	16	NUM
dem-8594	333	121	63.90	63.90	NUM
dem-8594	333	122	133.41	133.41	NUM
dem-8594	333	123	17.26	17.26	NUM
dem-8594	333	124	35.14	35.14	NUM
dem-8594	333	125	49.39	49.39	NUM
dem-8594	333	126	125.27	125.27	NUM
dem-8594	333	127	4.62	4.62	NUM
dem-8594	333	128	27.63	27.63	NUM
dem-8594	333	129	as	as	ADP
dem-8594	333	130	caviar	caviar	NOUN
dem-8594	333	131	8	8	NUM
dem-8594	333	132	35	35	NUM
dem-8594	333	133	2	2	NUM
dem-8594	333	134	16	16	NUM
dem-8594	333	135	79.72	79.72	NUM
dem-8594	333	136	142.30	142.30	NUM
dem-8594	333	137	17.04	17.04	NUM
dem-8594	333	138	35.28	35.28	NUM
dem-8594	333	139	65.61	65.61	NUM
dem-8594	333	140	134.49	134.49	NUM
dem-8594	333	141	4.03	4.03	NUM
dem-8594	333	142	27.79	27.79	NUM
dem-8594	333	143	plugin	plugin	NOUN
dem-8594	333	144	15	15	NUM
dem-8594	333	145	52	52	NUM
dem-8594	333	146	10	10	NUM
dem-8594	333	147	31	31	NUM
dem-8594	333	148	69.21	69.21	NUM
dem-8594	333	149	159.32	159.32	NUM
dem-8594	333	150	25.85	25.85	NUM
dem-8594	333	151	54.38	54.38	NUM
dem-8594	333	152	57.75	57.75	NUM
dem-8594	333	153	152.94	152.94	NUM
dem-8594	333	154	16.70	16.70	NUM
dem-8594	333	155	48.60	48.60	NUM
dem-8594	333	156	linearcomb	linearcomb	NOUN
dem-8594	333	157	14	14	NUM
dem-8594	333	158	45	45	NUM
dem-8594	333	159	6	6	NUM
dem-8594	333	160	29	29	NUM
dem-8594	333	161	83.31	83.31	NUM
dem-8594	333	162	163.03	163.03	NUM
dem-8594	333	163	21.51	21.51	NUM
dem-8594	333	164	51.85	51.85	NUM
dem-8594	333	165	71.70	71.70	NUM
dem-8594	333	166	156.58	156.58	NUM
dem-8594	333	167	11.41	11.41	NUM
dem-8594	333	168	45.72	45.72	NUM
dem-8594	333	169	simpavg	simpavg	NOUN
dem-8594	333	170	11	11	NUM
dem-8594	333	171	38	38	NUM
dem-8594	333	172	3	3	NUM
dem-8594	333	173	20	20	NUM
dem-8594	333	174	82.60	82.60	NUM
dem-8594	333	175	147.74	147.74	NUM
dem-8594	333	176	17.77	17.77	NUM
dem-8594	333	177	41.23	41.23	NUM
dem-8594	333	178	69.94	69.94	NUM
dem-8594	333	179	140.42	140.42	NUM
dem-8594	333	180	6.43	6.43	NUM
dem-8594	333	181	34.50	34.50	NUM
dem-8594	333	182	wtdavg	wtdavg	NOUN
dem-8594	333	183	12	12	NUM
dem-8594	333	184	38	38	NUM
dem-8594	333	185	4	4	NUM
dem-8594	333	186	32	32	NUM
dem-8594	333	187	83.83	83.83	NUM
dem-8594	333	188	148.39	148.39	NUM
dem-8594	333	189	18.84	18.84	NUM
dem-8594	333	190	56.27	56.27	NUM
dem-8594	333	191	71.96	71.96	NUM
dem-8594	333	192	141.16	141.16	NUM
dem-8594	333	193	8.17	8.17	NUM
dem-8594	333	194	50.40	50.40	NUM
dem-8594	333	195	wtdavgexp	wtdavgexp	NOUN
dem-8594	333	196	8	8	NUM
dem-8594	333	197	35	35	NUM
dem-8594	333	198	2	2	NUM
dem-8594	333	199	16	16	NUM
dem-8594	333	200	79.72	79.72	NUM
dem-8594	333	201	142.41	142.41	NUM
dem-8594	333	202	17.04	17.04	NUM
dem-8594	333	203	35.40	35.40	NUM
dem-8594	333	204	65.62	65.62	NUM
dem-8594	333	205	134.63	134.63	NUM
dem-8594	333	206	4.05	4.05	NUM
dem-8594	333	207	27.95	27.95	NUM
dem-8594	333	208	indirect	indirect	ADJ
dem-8594	333	209	garch	garch	NOUN
dem-8594	333	210	caviar	caviar	NOUN
dem-8594	333	211	9	9	NUM
dem-8594	333	212	31	31	NUM
dem-8594	333	213	2	2	NUM
dem-8594	333	214	14	14	NUM
dem-8594	333	215	56.45	56.45	NUM
dem-8594	333	216	118.36	118.36	NUM
dem-8594	333	217	17.44	17.44	NUM
dem-8594	333	218	32.92	32.92	NUM
dem-8594	333	219	41.77	41.77	NUM
dem-8594	333	220	109.45	109.45	NUM
dem-8594	333	221	4.74	4.74	NUM
dem-8594	333	222	25.15	25.15	NUM
dem-8594	333	223	plugin	plugin	NOUN
dem-8594	333	224	3	3	NUM
dem-8594	333	225	4	4	NUM
dem-8594	333	226	2	2	NUM
dem-8594	333	227	12	12	NUM
dem-8594	333	228	36.75	36.75	NUM
dem-8594	333	229	61.98	61.98	NUM
dem-8594	333	230	17.73	17.73	NUM
dem-8594	333	231	29.92	29.92	NUM
dem-8594	333	232	18.47	18.47	NUM
dem-8594	333	233	46.66	46.66	NUM
dem-8594	333	234	2.80	2.80	NUM
dem-8594	333	235	21.95	21.95	NUM
dem-8594	333	236	linearcomb	linearcomb	NOUN
dem-8594	333	237	15	15	NUM
dem-8594	333	238	41	41	NUM
dem-8594	333	239	14	14	NUM
dem-8594	333	240	33	33	NUM
dem-8594	333	241	86.04	86.04	NUM
dem-8594	333	242	155.96	155.96	NUM
dem-8594	333	243	32.44	32.44	NUM
dem-8594	333	244	57.16	57.16	NUM
dem-8594	333	245	74.58	74.58	NUM
dem-8594	333	246	149.32	149.32	NUM
dem-8594	333	247	24.03	24.03	NUM
dem-8594	333	248	51.25	51.25	NUM
dem-8594	333	249	simpavg	simpavg	NOUN
dem-8594	333	250	10	10	NUM
dem-8594	333	251	34	34	NUM
dem-8594	333	252	3	3	NUM
dem-8594	333	253	20	20	NUM
dem-8594	333	254	68.26	68.26	NUM
dem-8594	333	255	133.03	133.03	NUM
dem-8594	333	256	18.05	18.05	NUM
dem-8594	333	257	40.74	40.74	NUM
dem-8594	333	258	55.28	55.28	NUM
dem-8594	333	259	125.13	125.13	NUM
dem-8594	333	260	6.87	6.87	NUM
dem-8594	333	261	33.89	33.89	NUM
dem-8594	333	262	wtdavg	wtdavg	NOUN
dem-8594	333	263	11	11	NUM
dem-8594	333	264	36	36	NUM
dem-8594	333	265	5	5	NUM
dem-8594	333	266	32	32	NUM
dem-8594	333	267	69.72	69.72	NUM
dem-8594	333	268	140.40	140.40	NUM
dem-8594	333	269	20.06	20.06	NUM
dem-8594	333	270	56.49	56.49	NUM
dem-8594	333	271	56.84	56.84	NUM
dem-8594	333	272	132.93	132.93	NUM
dem-8594	333	273	9.73	9.73	NUM
dem-8594	333	274	50.65	50.65	NUM
dem-8594	333	275	wtdavgexp	wtdavgexp	NOUN
dem-8594	333	276	9	9	NUM
dem-8594	333	277	31	31	NUM
dem-8594	333	278	2	2	NUM
dem-8594	333	279	15	15	NUM
dem-8594	333	280	56.60	56.60	NUM
dem-8594	333	281	118.96	118.96	NUM
dem-8594	333	282	17.43	17.43	NUM
dem-8594	333	283	34.02	34.02	NUM
dem-8594	333	284	41.96	41.96	NUM
dem-8594	333	285	110.10	110.10	NUM
dem-8594	333	286	4.76	4.76	NUM
dem-8594	333	287	26.31	26.31	NUM
dem-8594	333	288	ad	ad	NOUN
dem-8594	333	289	caviar	caviar	NOUN
dem-8594	333	290	10	10	NUM
dem-8594	333	291	25	25	NUM
dem-8594	333	292	4	4	NUM
dem-8594	333	293	32	32	NUM
dem-8594	333	294	81.23	81.23	NUM
dem-8594	333	295	123.45	123.45	NUM
dem-8594	333	296	19.68	19.68	NUM
dem-8594	333	297	61.71	61.71	NUM
dem-8594	333	298	68.48	68.48	NUM
dem-8594	333	299	114.45	114.45	NUM
dem-8594	333	300	5.98	5.98	NUM
dem-8594	333	301	55.48	55.48	NUM
dem-8594	333	302	plugin	plugin	NOUN
dem-8594	333	303	15	15	NUM
dem-8594	333	304	51	51	NUM
dem-8594	333	305	8	8	NUM
dem-8594	333	306	32	32	NUM
dem-8594	333	307	68.35	68.35	NUM
dem-8594	333	308	153.60	153.60	NUM
dem-8594	333	309	24.49	24.49	NUM
dem-8594	333	310	55.07	55.07	NUM
dem-8594	333	311	57.01	57.01	NUM
dem-8594	333	312	147.15	147.15	NUM
dem-8594	333	313	14.59	14.59	NUM
dem-8594	333	314	49.10	49.10	NUM
dem-8594	333	315	linearcomb	linearcomb	NOUN
dem-8594	333	316	5	5	NUM
dem-8594	333	317	40	40	NUM
dem-8594	333	318	4	4	NUM
dem-8594	333	319	15	15	NUM
dem-8594	333	320	62.64	62.64	NUM
dem-8594	333	321	149.55	149.55	NUM
dem-8594	333	322	19.06	19.06	NUM
dem-8594	333	323	34.03	34.03	NUM
dem-8594	333	324	47.34	47.34	NUM
dem-8594	333	325	142.51	142.51	NUM
dem-8594	333	326	7.67	7.67	NUM
dem-8594	333	327	26.68	26.68	NUM
dem-8594	333	328	simpavg	simpavg	NOUN
dem-8594	333	329	12	12	NUM
dem-8594	333	330	28	28	NUM
dem-8594	333	331	4	4	NUM
dem-8594	333	332	30	30	NUM
dem-8594	333	333	83.04	83.04	NUM
dem-8594	333	334	132.13	132.13	NUM
dem-8594	333	335	18.93	18.93	NUM
dem-8594	333	336	56.13	56.13	NUM
dem-8594	333	337	71.06	71.06	NUM
dem-8594	333	338	124.17	124.17	NUM
dem-8594	333	339	7.24	7.24	NUM
dem-8594	333	340	50.06	50.06	NUM
dem-8594	333	341	wtdavg	wtdavg	NOUN
dem-8594	333	342	14	14	NUM
dem-8594	333	343	42	42	NUM
dem-8594	333	344	7	7	NUM
dem-8594	333	345	32	32	NUM
dem-8594	333	346	86.03	86.03	NUM
dem-8594	333	347	159.76	159.76	NUM
dem-8594	333	348	22.29	22.29	NUM
dem-8594	333	349	56.27	56.27	NUM
dem-8594	333	350	74.75	74.75	NUM
dem-8594	333	351	153.26	153.26	NUM
dem-8594	333	352	12.57	12.57	NUM
dem-8594	333	353	50.38	50.38	NUM
dem-8594	333	354	wtdavgexp	wtdavgexp	NOUN
dem-8594	333	355	10	10	NUM
dem-8594	333	356	26	26	NUM
dem-8594	333	357	4	4	NUM
dem-8594	333	358	32	32	NUM
dem-8594	333	359	81.22	81.22	NUM
dem-8594	333	360	124.64	124.64	NUM
dem-8594	333	361	19.66	19.66	NUM
dem-8594	333	362	61.38	61.38	NUM
dem-8594	333	363	68.48	68.48	NUM
dem-8594	333	364	115.70	115.70	NUM
dem-8594	333	365	6.00	6.00	NUM
dem-8594	333	366	55.16	55.16	NUM
dem-8594	333	367	note	note	NOUN
dem-8594	333	368	:	:	PUNCT
dem-8594	333	369	0.01	0.01	NUM
dem-8594	333	370	;	;	PUNCT
dem-8594	333	371	0.05	0.05	NUM
dem-8594	333	372	–	–	PUNCT
dem-8594	333	373	α	α	NUM
dem-8594	333	374	-	-	PUNCT
dem-8594	333	375	significance	significance	NOUN
dem-8594	333	376	level	level	NOUN
dem-8594	333	377	of	of	ADP
dem-8594	333	378	var	var	NOUN
dem-8594	333	379	;	;	PUNCT
dem-8594	333	380	bolded	bolde	VERB
dem-8594	333	381	value	value	NOUN
dem-8594	333	382	indicates	indicate	VERB
dem-8594	333	383	models	model	NOUN
dem-8594	333	384	/	/	SYM
dem-8594	333	385	methods	method	NOUN
dem-8594	333	386	that	that	PRON
dem-8594	333	387	both	both	DET
dem-8594	333	388	tests	test	NOUN
dem-8594	333	389	based	base	VERB
dem-8594	333	390	on	on	ADP
dem-8594	333	391	bernoulli	bernoulli	PROPN
dem-8594	333	392	trials	trial	NOUN
dem-8594	333	393	model	model	NOUN
dem-8594	333	394	and	and	CCONJ
dem-8594	333	395	dynamic	dynamic	ADJ
dem-8594	333	396	quantile	quantile	ADJ
dem-8594	333	397	test	test	NOUN
dem-8594	333	398	indicate	indicate	VERB
dem-8594	333	399	as	as	SCONJ
dem-8594	333	400	adequate	adequate	ADJ
dem-8594	333	401	,	,	PUNCT
dem-8594	333	402	underlined	underline	VERB
dem-8594	333	403	value	value	NOUN
dem-8594	333	404	is	be	AUX
dem-8594	333	405	the	the	DET
dem-8594	333	406	lowest	low	ADJ
dem-8594	333	407	value	value	NOUN
dem-8594	333	408	among	among	ADP
dem-8594	333	409	the	the	DET
dem-8594	333	410	models	model	NOUN
dem-8594	333	411	/	/	SYM
dem-8594	333	412	methods	method	NOUN
dem-8594	333	413	for	for	ADP
dem-8594	333	414	the	the	DET
dem-8594	333	415	analysed	analyse	VERB
dem-8594	333	416	position	position	NOUN
dem-8594	333	417	and	and	CCONJ
dem-8594	333	418	at	at	ADP
dem-8594	333	419	the	the	DET
dem-8594	333	420	significance	significance	NOUN
dem-8594	333	421	level	level	NOUN
dem-8594	333	422	.	.	PUNCT
dem-8594	334	1	the	the	DET
dem-8594	334	2	subject	subject	NOUN
dem-8594	334	3	of	of	ADP
dem-8594	334	4	the	the	DET
dem-8594	334	5	study	study	NOUN
dem-8594	334	6	were	be	AUX
dem-8594	334	7	two	two	NUM
dem-8594	334	8	assets	asset	NOUN
dem-8594	334	9	:	:	PUNCT
dem-8594	334	10	gold	gold	NOUN
dem-8594	334	11	and	and	CCONJ
dem-8594	334	12	oil	oil	NOUN
dem-8594	334	13	.	.	PUNCT
dem-8594	335	1	for	for	ADP
dem-8594	335	2	crude	crude	ADJ
dem-8594	335	3	oil	oil	NOUN
dem-8594	335	4	,	,	PUNCT
dem-8594	335	5	in	in	ADP
dem-8594	335	6	the	the	DET
dem-8594	335	7	encompassing	encompass	VERB
dem-8594	335	8	method	method	NOUN
dem-8594	335	9	we	we	PRON
dem-8594	335	10	observe	observe	VERB
dem-8594	335	11	significant	significant	ADJ
dem-8594	335	12	contribution	contribution	NOUN
dem-8594	335	13	of	of	ADP
dem-8594	335	14	the	the	DET
dem-8594	335	15	implied	imply	VERB
dem-8594	335	16	volatility	volatility	NOUN
dem-8594	335	17	to	to	ADP
dem-8594	335	18	the	the	DET
dem-8594	335	19	var	var	NOUN
dem-8594	335	20	.	.	PUNCT
dem-8594	336	1	for	for	ADP
dem-8594	336	2	gold	gold	NOUN
dem-8594	336	3	,	,	PUNCT
dem-8594	336	4	the	the	DET
dem-8594	336	5	implied	imply	VERB
dem-8594	336	6	quantile	quantile	NOUN
dem-8594	336	7	has	have	AUX
dem-8594	336	8	been	be	AUX
dem-8594	336	9	assigned	assign	VERB
dem-8594	336	10	a	a	DET
dem-8594	336	11	higher	high	ADJ
dem-8594	336	12	weight	weight	NOUN
dem-8594	336	13	in	in	ADP
dem-8594	336	14	the	the	DET
dem-8594	336	15	method	method	NOUN
dem-8594	336	16	of	of	ADP
dem-8594	336	17	linear	linear	ADJ
dem-8594	336	18	combination	combination	NOUN
dem-8594	336	19	and	and	CCONJ
dem-8594	336	20	weighted	weight	VERB
dem-8594	336	21	averaged	average	VERB
dem-8594	336	22	combining	combine	VERB
dem-8594	336	23	method	method	NOUN
dem-8594	336	24	.	.	PUNCT
dem-8594	337	1	conclusions	conclusion	NOUN
dem-8594	337	2	made	make	VERB
dem-8594	337	3	by	by	ADP
dem-8594	337	4	jeon	jeon	PROPN
dem-8594	337	5	and	and	CCONJ
dem-8594	337	6	taylor	taylor	PROPN
dem-8594	337	7	(	(	PUNCT
dem-8594	337	8	2013	2013	NUM
dem-8594	337	9	)	)	PUNCT
dem-8594	337	10	,	,	PUNCT
dem-8594	337	11	who	who	PRON
dem-8594	337	12	analyzed	analyze	VERB
dem-8594	337	13	the	the	DET
dem-8594	337	14	caviar	caviar	NOUN
dem-8594	337	15	models	model	NOUN
dem-8594	337	16	,	,	PUNCT
dem-8594	337	17	the	the	DET
dem-8594	337	18	encompassing	encompass	VERB
dem-8594	337	19	method	method	NOUN
dem-8594	337	20	and	and	CCONJ
dem-8594	337	21	the	the	DET
dem-8594	337	22	combination	combination	NOUN
dem-8594	337	23	methods	method	NOUN
dem-8594	337	24	for	for	ADP
dem-8594	337	25	the	the	DET
dem-8594	337	26	capital	capital	NOUN
dem-8594	337	27	market	market	NOUN
dem-8594	337	28	indices	index	NOUN
dem-8594	337	29	differ	differ	VERB
dem-8594	337	30	from	from	ADP
dem-8594	337	31	the	the	DET
dem-8594	337	32	one	one	NOUN
dem-8594	337	33	presented	present	VERB
dem-8594	337	34	in	in	ADP
dem-8594	337	35	this	this	DET
dem-8594	337	36	study	study	NOUN
dem-8594	337	37	for	for	ADP
dem-8594	337	38	the	the	DET
dem-8594	337	39	commodities	commodity	NOUN
dem-8594	337	40	.	.	PUNCT
dem-8594	338	1	jeon	jeon	PROPN
dem-8594	338	2	and	and	CCONJ
dem-8594	338	3	taylor	taylor	PROPN
dem-8594	338	4	(	(	PUNCT
dem-8594	338	5	2013	2013	NUM
dem-8594	338	6	)	)	PUNCT
dem-8594	338	7	using	use	VERB
dem-8594	338	8	backtests	backtest	NOUN
dem-8594	338	9	and	and	CCONJ
dem-8594	338	10	the	the	DET
dem-8594	338	11	dynamic	dynamic	ADJ
dem-8594	338	12	quantile	quantile	ADJ
dem-8594	338	13	test	test	NOUN
dem-8594	338	14	pointed	point	VERB
dem-8594	338	15	out	out	ADP
dem-8594	338	16	the	the	DET
dem-8594	338	17	forecast	forecast	NOUN
dem-8594	338	18	determined	determine	VERB
dem-8594	338	19	by	by	ADP
dem-8594	338	20	combining	combine	VERB
dem-8594	338	21	methods	method	NOUN
dem-8594	338	22	as	as	ADP
dem-8594	338	23	more	more	ADV
dem-8594	338	24	adequate	adequate	ADJ
dem-8594	338	25	than	than	ADP
dem-8594	338	26	coming	come	VERB
dem-8594	338	27	from	from	ADP
dem-8594	338	28	caviar	caviar	NOUN
dem-8594	338	29	models	model	NOUN
dem-8594	338	30	or	or	CCONJ
dem-8594	338	31	the	the	DET
dem-8594	338	32	implied	imply	VERB
dem-8594	338	33	quantile	quantile	ADJ
dem-8594	338	34	model	model	NOUN
dem-8594	338	35	.	.	PUNCT
dem-8594	339	1	in	in	ADP
dem-8594	339	2	their	their	PRON
dem-8594	339	3	view	view	NOUN
dem-8594	339	4	,	,	PUNCT
dem-8594	339	5	the	the	DET
dem-8594	339	6	encompassing	encompass	VERB
dem-8594	339	7	method	method	NOUN
dem-8594	339	8	derives	derive	VERB
dem-8594	339	9	more	more	ADV
dem-8594	339	10	accurate	accurate	ADJ
dem-8594	339	11	ewa	ewa	PROPN
dem-8594	339	12	ratuszny	ratuszny	VERB
dem-8594	339	13	dynamic	dynamic	ADJ
dem-8594	339	14	econometric	econometric	ADJ
dem-8594	339	15	models	model	NOUN
dem-8594	339	16	15	15	NUM
dem-8594	339	17	(	(	PUNCT
dem-8594	339	18	2015	2015	NUM
dem-8594	339	19	)	)	PUNCT
dem-8594	339	20	129–156	129–156	NUM
dem-8594	339	21	152	152	NUM
dem-8594	339	22	forecasts	forecast	NOUN
dem-8594	339	23	than	than	ADP
dem-8594	339	24	the	the	DET
dem-8594	339	25	individual	individual	ADJ
dem-8594	339	26	caviar	caviar	NOUN
dem-8594	339	27	models	model	NOUN
dem-8594	339	28	or	or	CCONJ
dem-8594	339	29	the	the	DET
dem-8594	339	30	implied	imply	VERB
dem-8594	339	31	quantile	quantile	ADJ
dem-8594	339	32	model	model	NOUN
dem-8594	339	33	individually	individually	ADV
dem-8594	339	34	,	,	PUNCT
dem-8594	339	35	but	but	CCONJ
dem-8594	339	36	considering	consider	VERB
dem-8594	339	37	only	only	ADV
dem-8594	339	38	the	the	DET
dem-8594	339	39	criterion	criterion	NOUN
dem-8594	339	40	of	of	ADP
dem-8594	339	41	the	the	DET
dem-8594	339	42	smallest	small	ADJ
dem-8594	339	43	fraction	fraction	NOUN
dem-8594	339	44	of	of	ADP
dem-8594	339	45	exceedances	exceedance	NOUN
dem-8594	339	46	hit	hit	VERB
dem-8594	339	47	(	(	PUNCT
dem-8594	339	48	table	table	NOUN
dem-8594	339	49	(	(	PUNCT
dem-8594	339	50	5	5	NUM
dem-8594	339	51	)	)	PUNCT
dem-8594	339	52	in	in	ADP
dem-8594	339	53	jeon	jeon	PROPN
dem-8594	339	54	and	and	CCONJ
dem-8594	339	55	taylor	taylor	PROPN
dem-8594	339	56	(	(	PUNCT
dem-8594	339	57	2013	2013	NUM
dem-8594	339	58	)	)	PUNCT
dem-8594	339	59	)	)	PUNCT
dem-8594	339	60	.	.	PUNCT
dem-8594	340	1	among	among	ADP
dem-8594	340	2	the	the	DET
dem-8594	340	3	methods	method	NOUN
dem-8594	340	4	of	of	ADP
dem-8594	340	5	combining	combine	VERB
dem-8594	340	6	forecasts	forecast	NOUN
dem-8594	340	7	jeon	jeon	PROPN
dem-8594	340	8	and	and	CCONJ
dem-8594	340	9	taylor	taylor	PROPN
dem-8594	340	10	(	(	PUNCT
dem-8594	340	11	2013	2013	NUM
dem-8594	340	12	)	)	PUNCT
dem-8594	340	13	pointed	point	VERB
dem-8594	340	14	out	out	ADP
dem-8594	340	15	that	that	SCONJ
dem-8594	340	16	the	the	DET
dem-8594	340	17	linear	linear	ADJ
dem-8594	340	18	combination	combination	NOUN
dem-8594	340	19	method	method	NOUN
dem-8594	340	20	and	and	CCONJ
dem-8594	340	21	the	the	DET
dem-8594	340	22	arithmetic	arithmetic	ADJ
dem-8594	340	23	mean	mean	NOUN
dem-8594	340	24	method	method	NOUN
dem-8594	340	25	generate	generate	VERB
dem-8594	340	26	the	the	DET
dem-8594	340	27	most	most	ADV
dem-8594	340	28	adequate	adequate	ADJ
dem-8594	340	29	var	var	NOUN
dem-8594	340	30	.	.	PUNCT
dem-8594	341	1	table	table	NOUN
dem-8594	341	2	13	13	NUM
dem-8594	341	3	.	.	PUNCT
dem-8594	342	1	oil	oil	NOUN
dem-8594	342	2	.	.	PUNCT
dem-8594	343	1	loss	loss	NOUN
dem-8594	343	2	functions	function	NOUN
dem-8594	343	3	for	for	ADP
dem-8594	343	4	post	post	NOUN
dem-8594	343	5	sample	sample	NOUN
dem-8594	343	6	method	method	NOUN
dem-8594	343	7	/	/	SYM
dem-8594	343	8	model	model	NOUN
dem-8594	343	9	bl	bl	PROPN
dem-8594	344	1	fl	fl	INTJ
dem-8594	344	2	rl	rl	PROPN
dem-8594	344	3	long	long	ADV
dem-8594	344	4	short	short	ADJ
dem-8594	344	5	long	long	ADV
dem-8594	344	6	short	short	ADJ
dem-8594	344	7	long	long	ADJ
dem-8594	344	8	short	short	ADJ
dem-8594	344	9	position	position	NOUN
dem-8594	344	10	position	position	NOUN
dem-8594	344	11	position	position	NOUN
dem-8594	344	12	position	position	NOUN
dem-8594	344	13	position	position	NOUN
dem-8594	344	14	position	position	NOUN
dem-8594	344	15	α	α	NOUN
dem-8594	344	16	0.01	0.01	NUM
dem-8594	344	17	0.05	0.05	NUM
dem-8594	344	18	0.01	0.01	NUM
dem-8594	344	19	0.05	0.05	NUM
dem-8594	344	20	0.01	0.01	NUM
dem-8594	344	21	0.05	0.05	NUM
dem-8594	344	22	0.01	0.01	NUM
dem-8594	344	23	0.05	0.05	NUM
dem-8594	344	24	0.01	0.01	NUM
dem-8594	344	25	0.05	0.05	NUM
dem-8594	344	26	0.01	0.01	NUM
dem-8594	344	27	0.05	0.05	NUM
dem-8594	344	28	iq	iq	NOUN
dem-8594	344	29	8	8	NUM
dem-8594	344	30	24	24	NUM
dem-8594	344	31	4	4	NUM
dem-8594	344	32	28	28	NUM
dem-8594	344	33	53.53	53.53	NUM
dem-8594	344	34	91.59	91.59	NUM
dem-8594	344	35	19.90	19.90	NUM
dem-8594	344	36	49.10	49.10	NUM
dem-8594	344	37	38.92	38.92	NUM
dem-8594	344	38	81.89	81.89	NUM
dem-8594	344	39	5.19	5.19	NUM
dem-8594	344	40	39.78	39.78	NUM
dem-8594	344	41	sav	sav	NOUN
dem-8594	344	42	caviar	caviar	NOUN
dem-8594	344	43	6	6	NUM
dem-8594	344	44	24	24	NUM
dem-8594	344	45	2	2	NUM
dem-8594	344	46	30	30	NUM
dem-8594	344	47	27.18	27.18	NUM
dem-8594	344	48	75.88	75.88	NUM
dem-8594	344	49	18.94	18.94	NUM
dem-8594	344	50	50.55	50.55	NUM
dem-8594	344	51	7.74	7.74	NUM
dem-8594	344	52	65.51	65.51	NUM
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dem-8594	344	55	plugin	plugin	NOUN
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dem-8594	344	57	51	51	NUM
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dem-8594	344	60	44.49	44.49	NUM
dem-8594	344	61	132.40	132.40	NUM
dem-8594	344	62	25.07	25.07	NUM
dem-8594	344	63	112.84	112.84	NUM
dem-8594	344	64	29.46	29.46	NUM
dem-8594	344	65	124.69	124.69	NUM
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dem-8594	344	72	59	59	NUM
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dem-8594	344	74	115.63	115.63	NUM
dem-8594	344	75	24.97	24.97	NUM
dem-8594	344	76	105.85	105.85	NUM
dem-8594	344	77	24.87	24.87	NUM
dem-8594	344	78	107.44	107.44	NUM
dem-8594	344	79	11.76	11.76	NUM
dem-8594	344	80	99.59	99.59	NUM
dem-8594	344	81	simpavg	simpavg	NOUN
dem-8594	344	82	7	7	NUM
dem-8594	344	83	25	25	NUM
dem-8594	344	84	0	0	NUM
dem-8594	344	85	27	27	NUM
dem-8594	344	86	35.47	35.47	NUM
dem-8594	344	87	81.99	81.99	NUM
dem-8594	344	88	15.88	15.88	NUM
dem-8594	344	89	46.29	46.29	NUM
dem-8594	344	90	18.46	18.46	NUM
dem-8594	344	91	72.00	72.00	NUM
dem-8594	344	92	0.00	0.00	NUM
dem-8594	344	93	37.01	37.01	NUM
dem-8594	344	94	wtdavg	wtdavg	NOUN
dem-8594	344	95	7	7	NUM
dem-8594	344	96	24	24	NUM
dem-8594	344	97	0	0	NUM
dem-8594	344	98	27	27	NUM
dem-8594	344	99	31.72	31.72	NUM
dem-8594	344	100	79.47	79.47	NUM
dem-8594	344	101	16.08	16.08	NUM
dem-8594	344	102	46.76	46.76	NUM
dem-8594	344	103	13.85	13.85	NUM
dem-8594	344	104	69.38	69.38	NUM
dem-8594	344	105	0.00	0.00	NUM
dem-8594	344	106	37.50	37.50	NUM
dem-8594	344	107	wtdavgexp	wtdavgexp	NOUN
dem-8594	344	108	6	6	NUM
dem-8594	344	109	23	23	NUM
dem-8594	344	110	2	2	NUM
dem-8594	344	111	29	29	NUM
dem-8594	344	112	27.27	27.27	NUM
dem-8594	344	113	75.25	75.25	NUM
dem-8594	344	114	18.90	18.90	NUM
dem-8594	344	115	49.29	49.29	NUM
dem-8594	344	116	7.91	7.91	NUM
dem-8594	344	117	64.92	64.92	NUM
dem-8594	344	118	2.02	2.02	NUM
dem-8594	344	119	40.08	40.08	NUM
dem-8594	344	120	as	as	ADP
dem-8594	344	121	caviar	caviar	NOUN
dem-8594	344	122	5	5	NUM
dem-8594	344	123	23	23	NUM
dem-8594	344	124	1	1	NUM
dem-8594	344	125	20	20	NUM
dem-8594	344	126	26.86	26.86	NUM
dem-8594	344	127	77.04	77.04	NUM
dem-8594	344	128	18.58	18.58	NUM
dem-8594	344	129	35.75	35.75	NUM
dem-8594	344	130	6.62	6.62	NUM
dem-8594	344	131	66.64	66.64	NUM
dem-8594	344	132	1.10	1.10	NUM
dem-8594	344	133	25.07	25.07	NUM
dem-8594	344	134	plugin	plugin	NOUN
dem-8594	344	135	11	11	NUM
dem-8594	344	136	38	38	NUM
dem-8594	344	137	1	1	NUM
dem-8594	344	138	34	34	NUM
dem-8594	344	139	55.47	55.47	NUM
dem-8594	344	140	108.30	108.30	NUM
dem-8594	344	141	18.73	18.73	NUM
dem-8594	344	142	60.07	60.07	NUM
dem-8594	344	143	41.76	41.76	NUM
dem-8594	344	144	99.63	99.63	NUM
dem-8594	344	145	1.07	1.07	NUM
dem-8594	344	146	51.86	51.86	NUM
dem-8594	344	147	linearcomb	linearcomb	NOUN
dem-8594	344	148	7	7	NUM
dem-8594	344	149	35	35	NUM
dem-8594	344	150	4	4	NUM
dem-8594	344	151	27	27	NUM
dem-8594	344	152	36.01	36.01	NUM
dem-8594	344	153	101.16	101.16	NUM
dem-8594	344	154	19.97	19.97	NUM
dem-8594	344	155	48.09	48.09	NUM
dem-8594	344	156	19.04	19.04	NUM
dem-8594	344	157	92.17	92.17	NUM
dem-8594	344	158	4.60	4.60	NUM
dem-8594	344	159	39.09	39.09	NUM
dem-8594	344	160	simpavg	simpavg	NOUN
dem-8594	344	161	6	6	NUM
dem-8594	344	162	25	25	NUM
dem-8594	344	163	0	0	NUM
dem-8594	344	164	25	25	NUM
dem-8594	344	165	34.13	34.13	NUM
dem-8594	344	166	83.56	83.56	NUM
dem-8594	344	167	16.15	16.15	NUM
dem-8594	344	168	41.35	41.35	NUM
dem-8594	344	169	16.70	16.70	NUM
dem-8594	344	170	73.55	73.55	NUM
dem-8594	344	171	0.00	0.00	NUM
dem-8594	344	172	31.40	31.40	NUM
dem-8594	344	173	wtdavg	wtdavg	NOUN
dem-8594	344	174	5	5	NUM
dem-8594	344	175	24	24	NUM
dem-8594	344	176	1	1	NUM
dem-8594	344	177	22	22	NUM
dem-8594	344	178	27.17	27.17	NUM
dem-8594	344	179	79.86	79.86	NUM
dem-8594	344	180	18.43	18.43	NUM
dem-8594	344	181	37.66	37.66	NUM
dem-8594	344	182	7.39	7.39	NUM
dem-8594	344	183	69.66	69.66	NUM
dem-8594	344	184	1.08	1.08	NUM
dem-8594	344	185	27.14	27.14	NUM
dem-8594	344	186	wtdavgexp	wtdavgexp	NOUN
dem-8594	344	187	5	5	NUM
dem-8594	344	188	23	23	NUM
dem-8594	344	189	1	1	NUM
dem-8594	344	190	21	21	NUM
dem-8594	344	191	26.90	26.90	NUM
dem-8594	344	192	77.38	77.38	NUM
dem-8594	344	193	18.52	18.52	NUM
dem-8594	344	194	36.69	36.69	NUM
dem-8594	344	195	6.75	6.75	NUM
dem-8594	344	196	67.01	67.01	NUM
dem-8594	344	197	1.09	1.09	NUM
dem-8594	344	198	26.10	26.10	NUM
dem-8594	344	199	indirect	indirect	ADJ
dem-8594	344	200	garch	garch	NOUN
dem-8594	344	201	caviar	caviar	NOUN
dem-8594	344	202	3	3	NUM
dem-8594	344	203	18	18	NUM
dem-8594	344	204	0	0	NUM
dem-8594	344	205	23	23	NUM
dem-8594	344	206	25.45	25.45	NUM
dem-8594	344	207	58.71	58.71	NUM
dem-8594	344	208	18.65	18.65	NUM
dem-8594	344	209	39.65	39.65	NUM
dem-8594	344	210	4.52	4.52	NUM
dem-8594	344	211	47.11	47.11	NUM
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dem-8594	344	213	29.57	29.57	NUM
dem-8594	344	214	plugin	plugin	NOUN
dem-8594	344	215	6	6	NUM
dem-8594	344	216	20	20	NUM
dem-8594	344	217	0	0	NUM
dem-8594	344	218	0	0	NUM
dem-8594	344	219	33.06	33.06	NUM
dem-8594	344	220	63.24	63.24	NUM
dem-8594	344	221	18.08	18.08	NUM
dem-8594	344	222	16.03	16.03	NUM
dem-8594	344	223	15.50	15.50	NUM
dem-8594	344	224	52.08	52.08	NUM
dem-8594	344	225	0.00	0.00	NUM
dem-8594	344	226	0.00	0.00	NUM
dem-8594	344	227	linearcomb	linearcomb	NOUN
dem-8594	344	228	6	6	NUM
dem-8594	344	229	26	26	NUM
dem-8594	344	230	5	5	NUM
dem-8594	344	231	53	53	NUM
dem-8594	344	232	37.19	37.19	NUM
dem-8594	344	233	78.81	78.81	NUM
dem-8594	344	234	20.19	20.19	NUM
dem-8594	344	235	92.12	92.12	NUM
dem-8594	344	236	20.71	20.71	NUM
dem-8594	344	237	68.92	68.92	NUM
dem-8594	344	238	5.10	5.10	NUM
dem-8594	344	239	85.37	85.37	NUM
dem-8594	344	240	simpavg	simpavg	NOUN
dem-8594	344	241	6	6	NUM
dem-8594	344	242	18	18	NUM
dem-8594	344	243	0	0	NUM
dem-8594	344	244	25	25	NUM
dem-8594	344	245	34.84	34.84	NUM
dem-8594	344	246	69.12	69.12	NUM
dem-8594	344	247	16.72	16.72	NUM
dem-8594	344	248	42.12	42.12	NUM
dem-8594	344	249	17.11	17.11	NUM
dem-8594	344	250	58.41	58.41	NUM
dem-8594	344	251	0.00	0.00	NUM
dem-8594	344	252	32.44	32.44	NUM
dem-8594	344	253	wtdavg	wtdavg	NOUN
dem-8594	344	254	5	5	NUM
dem-8594	344	255	18	18	NUM
dem-8594	344	256	0	0	NUM
dem-8594	344	257	26	26	NUM
dem-8594	344	258	30.59	30.59	NUM
dem-8594	344	259	60.08	60.08	NUM
dem-8594	344	260	17.47	17.47	NUM
dem-8594	344	261	42.59	42.59	NUM
dem-8594	344	262	11.78	11.78	NUM
dem-8594	344	263	48.63	48.63	NUM
dem-8594	344	264	0.00	0.00	NUM
dem-8594	344	265	32.75	32.75	NUM
dem-8594	344	266	wtdavgexp	wtdavgexp	NOUN
dem-8594	344	267	3	3	NUM
dem-8594	344	268	19	19	NUM
dem-8594	344	269	0	0	NUM
dem-8594	344	270	24	24	NUM
dem-8594	344	271	25.52	25.52	NUM
dem-8594	344	272	60.71	60.71	NUM
dem-8594	344	273	18.58	18.58	NUM
dem-8594	344	274	40.57	40.57	NUM
dem-8594	344	275	4.68	4.68	NUM
dem-8594	344	276	49.24	49.24	NUM
dem-8594	344	277	0.00	0.00	NUM
dem-8594	344	278	30.57	30.57	NUM
dem-8594	344	279	ad	ad	NOUN
dem-8594	344	280	caviar	caviar	NOUN
dem-8594	344	281	0	0	NUM
dem-8594	344	282	5	5	NUM
dem-8594	344	283	0	0	NUM
dem-8594	344	284	5	5	NUM
dem-8594	344	285	29.80	29.80	NUM
dem-8594	344	286	34.08	34.08	NUM
dem-8594	344	287	19.28	19.28	NUM
dem-8594	344	288	20.99	20.99	NUM
dem-8594	344	289	0.00	0.00	NUM
dem-8594	344	290	16.00	16.00	NUM
dem-8594	344	291	0.00	0.00	NUM
dem-8594	344	292	5.50	5.50	NUM
dem-8594	344	293	plugin	plugin	NOUN
dem-8594	344	294	12	12	NUM
dem-8594	344	295	45	45	NUM
dem-8594	344	296	13	13	NUM
dem-8594	344	297	90	90	NUM
dem-8594	344	298	68.43	68.43	NUM
dem-8594	344	299	142.19	142.19	NUM
dem-8594	344	300	29.38	29.38	NUM
dem-8594	344	301	161.95	161.95	NUM
dem-8594	344	302	54.95	54.95	NUM
dem-8594	344	303	134.43	134.43	NUM
dem-8594	344	304	16.61	16.61	NUM
dem-8594	344	305	156.82	156.82	NUM
dem-8594	344	306	linearcomb	linearcomb	NOUN
dem-8594	344	307	15	15	NUM
dem-8594	344	308	44	44	NUM
dem-8594	344	309	59	59	NUM
dem-8594	344	310	205	205	NUM
dem-8594	344	311	77.90	77.90	NUM
dem-8594	344	312	132.14	132.14	NUM
dem-8594	344	313	114.91	114.91	NUM
dem-8594	344	314	470.52	470.52	NUM
dem-8594	344	315	65.61	65.61	NUM
dem-8594	344	316	124.19	124.19	NUM
dem-8594	344	317	107.58	107.58	NUM
dem-8594	344	318	468.66	468.66	NUM
dem-8594	344	319	simpavg	simpavg	NOUN
dem-8594	344	320	0	0	NUM
dem-8594	344	321	8	8	NUM
dem-8594	344	322	0	0	NUM
dem-8594	344	323	11	11	NUM
dem-8594	344	324	34.45	34.45	NUM
dem-8594	344	325	49.03	49.03	NUM
dem-8594	344	326	18.96	18.96	NUM
dem-8594	344	327	25.55	25.55	NUM
dem-8594	344	328	0.00	0.00	NUM
dem-8594	344	329	35.05	35.05	NUM
dem-8594	344	330	0.00	0.00	NUM
dem-8594	344	331	13.10	13.10	NUM
dem-8594	344	332	wtdavg	wtdavg	NOUN
dem-8594	344	333	10	10	NUM
dem-8594	344	334	34	34	NUM
dem-8594	344	335	4	4	NUM
dem-8594	344	336	55	55	NUM
dem-8594	344	337	59.29	59.29	NUM
dem-8594	344	338	113.07	113.07	NUM
dem-8594	344	339	19.77	19.77	NUM
dem-8594	344	340	101.50	101.50	NUM
dem-8594	344	341	45.54	45.54	NUM
dem-8594	344	342	104.52	104.52	NUM
dem-8594	344	343	5.42	5.42	NUM
dem-8594	344	344	94.84	94.84	NUM
dem-8594	344	345	wtdavgexp	wtdavgexp	NOUN
dem-8594	344	346	0	0	NUM
dem-8594	344	347	5	5	NUM
dem-8594	344	348	0	0	NUM
dem-8594	344	349	5	5	NUM
dem-8594	344	350	30.73	30.73	NUM
dem-8594	344	351	35.10	35.10	NUM
dem-8594	344	352	19.21	19.21	NUM
dem-8594	344	353	20.69	20.69	NUM
dem-8594	344	354	0.00	0.00	NUM
dem-8594	344	355	17.51	17.51	NUM
dem-8594	344	356	0.00	0.00	NUM
dem-8594	344	357	5.57	5.57	NUM
dem-8594	344	358	note	note	NOUN
dem-8594	344	359	:	:	PUNCT
dem-8594	344	360	0.01	0.01	NUM
dem-8594	344	361	;	;	PUNCT
dem-8594	344	362	0.05	0.05	NUM
dem-8594	344	363	–	–	PUNCT
dem-8594	344	364	α	α	NUM
dem-8594	344	365	-	-	PUNCT
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dem-8594	344	367	level	level	NOUN
dem-8594	344	368	of	of	ADP
dem-8594	344	369	var	var	NOUN
dem-8594	344	370	;	;	PUNCT
dem-8594	344	371	bolded	bolde	VERB
dem-8594	344	372	value	value	NOUN
dem-8594	344	373	indicates	indicate	VERB
dem-8594	344	374	models	model	NOUN
dem-8594	344	375	/	/	SYM
dem-8594	344	376	methods	method	NOUN
dem-8594	344	377	that	that	PRON
dem-8594	344	378	both	both	DET
dem-8594	344	379	tests	test	NOUN
dem-8594	344	380	based	base	VERB
dem-8594	344	381	on	on	ADP
dem-8594	344	382	bernoulli	bernoulli	PROPN
dem-8594	344	383	trials	trial	NOUN
dem-8594	344	384	model	model	NOUN
dem-8594	344	385	and	and	CCONJ
dem-8594	344	386	dynamic	dynamic	ADJ
dem-8594	344	387	quantile	quantile	ADJ
dem-8594	344	388	test	test	NOUN
dem-8594	344	389	indicate	indicate	VERB
dem-8594	344	390	as	as	SCONJ
dem-8594	344	391	adequate	adequate	ADJ
dem-8594	344	392	,	,	PUNCT
dem-8594	344	393	underlined	underline	VERB
dem-8594	344	394	value	value	NOUN
dem-8594	344	395	is	be	AUX
dem-8594	344	396	the	the	DET
dem-8594	344	397	lowest	low	ADJ
dem-8594	344	398	value	value	NOUN
dem-8594	344	399	among	among	ADP
dem-8594	344	400	the	the	DET
dem-8594	344	401	models	model	NOUN
dem-8594	344	402	/	/	SYM
dem-8594	344	403	methods	method	NOUN
dem-8594	344	404	for	for	ADP
dem-8594	344	405	the	the	DET
dem-8594	344	406	analysed	analyse	VERB
dem-8594	344	407	position	position	NOUN
dem-8594	344	408	and	and	CCONJ
dem-8594	344	409	at	at	ADP
dem-8594	344	410	the	the	DET
dem-8594	344	411	significance	significance	NOUN
dem-8594	344	412	level	level	NOUN
dem-8594	344	413	.	.	PUNCT
dem-8594	345	1	in	in	ADP
dem-8594	345	2	our	our	PRON
dem-8594	345	3	research	research	NOUN
dem-8594	345	4	,	,	PUNCT
dem-8594	345	5	the	the	DET
dem-8594	345	6	kupiec	kupiec	NOUN
dem-8594	345	7	test	test	NOUN
dem-8594	345	8	is	be	AUX
dem-8594	345	9	used	use	VERB
dem-8594	345	10	in	in	ADP
dem-8594	345	11	conjunction	conjunction	NOUN
dem-8594	345	12	with	with	ADP
dem-8594	345	13	the	the	DET
dem-8594	345	14	dynamic	dynamic	ADJ
dem-8594	345	15	quantile	quantile	ADJ
dem-8594	345	16	test	test	NOUN
dem-8594	345	17	and	and	CCONJ
dem-8594	345	18	the	the	DET
dem-8594	345	19	christoffersen	christoffersen	NOUN
dem-8594	345	20	test	test	NOUN
dem-8594	345	21	,	,	PUNCT
dem-8594	345	22	so	so	CCONJ
dem-8594	345	23	the	the	DET
dem-8594	345	24	models	model	NOUN
dem-8594	345	25	and	and	CCONJ
dem-8594	345	26	methods	method	NOUN
dem-8594	345	27	that	that	PRON
dem-8594	345	28	underestimate	underestimate	VERB
dem-8594	345	29	or	or	CCONJ
dem-8594	345	30	overestimate	overestimate	NOUN
dem-8594	345	31	var	var	NOUN
dem-8594	345	32	are	be	AUX
dem-8594	345	33	rejected	reject	VERB
dem-8594	345	34	.	.	PUNCT
dem-8594	346	1	we	we	PRON
dem-8594	346	2	show	show	VERB
dem-8594	346	3	that	that	SCONJ
dem-8594	346	4	the	the	DET
dem-8594	346	5	criteria	criterion	NOUN
dem-8594	346	6	based	base	VERB
dem-8594	346	7	on	on	ADP
dem-8594	346	8	the	the	DET
dem-8594	346	9	kupiec	kupiec	NOUN
dem-8594	346	10	,	,	PUNCT
dem-8594	346	11	the	the	DET
dem-8594	346	12	christoffersen	christoffersen	NOUN
dem-8594	346	13	and	and	CCONJ
dem-8594	346	14	the	the	DET
dem-8594	346	15	dynamic	dynamic	ADJ
dem-8594	346	16	quantile	quantile	ADJ
dem-8594	346	17	test	test	NOUN
dem-8594	346	18	risk	risk	NOUN
dem-8594	346	19	modeling	modeling	NOUN
dem-8594	346	20	of	of	ADP
dem-8594	346	21	commodities	commodity	NOUN
dem-8594	346	22	using	use	VERB
dem-8594	346	23	caviar	caviar	NOUN
dem-8594	346	24	models	model	NOUN
dem-8594	346	25	…	…	PUNCT
dem-8594	346	26	dynamic	dynamic	ADJ
dem-8594	346	27	econometric	econometric	ADJ
dem-8594	346	28	models	model	NOUN
dem-8594	346	29	15	15	NUM
dem-8594	346	30	(	(	PUNCT
dem-8594	346	31	2015	2015	NUM
dem-8594	346	32	)	)	PUNCT
dem-8594	346	33	129–156	129–156	NUM
dem-8594	346	34	153	153	NUM
dem-8594	346	35	together	together	ADV
dem-8594	346	36	more	more	ADV
dem-8594	346	37	precisely	precisely	ADV
dem-8594	346	38	classify	classify	VERB
dem-8594	346	39	the	the	DET
dem-8594	346	40	var	var	NOUN
dem-8594	346	41	forecasting	forecasting	NOUN
dem-8594	346	42	method	method	NOUN
dem-8594	346	43	than	than	ADP
dem-8594	346	44	the	the	DET
dem-8594	346	45	one	one	NOUN
dem-8594	346	46	used	use	VERB
dem-8594	346	47	by	by	ADP
dem-8594	346	48	jeon	jeon	PROPN
dem-8594	346	49	and	and	CCONJ
dem-8594	346	50	taylor	taylor	PROPN
dem-8594	346	51	(	(	PUNCT
dem-8594	346	52	2013	2013	NUM
dem-8594	346	53	)	)	PUNCT
dem-8594	346	54	.	.	PUNCT
dem-8594	347	1	proposals	proposal	NOUN
dem-8594	347	2	of	of	ADP
dem-8594	347	3	evaluation	evaluation	NOUN
dem-8594	347	4	var	var	NOUN
dem-8594	347	5	models	model	NOUN
dem-8594	347	6	formulated	formulate	VERB
dem-8594	347	7	in	in	ADP
dem-8594	347	8	this	this	DET
dem-8594	347	9	study	study	NOUN
dem-8594	347	10	may	may	AUX
dem-8594	347	11	protect	protect	VERB
dem-8594	347	12	the	the	DET
dem-8594	347	13	institution	institution	NOUN
dem-8594	347	14	against	against	ADP
dem-8594	347	15	errors	error	NOUN
dem-8594	347	16	arising	arise	VERB
dem-8594	347	17	from	from	ADP
dem-8594	347	18	the	the	DET
dem-8594	347	19	application	application	NOUN
dem-8594	347	20	of	of	ADP
dem-8594	347	21	methods	method	NOUN
dem-8594	347	22	pointed	point	VERB
dem-8594	347	23	out	out	ADP
dem-8594	347	24	by	by	ADP
dem-8594	347	25	jeon	jeon	PROPN
dem-8594	347	26	and	and	CCONJ
dem-8594	347	27	taylor	taylor	PROPN
dem-8594	347	28	(	(	PUNCT
dem-8594	347	29	2013	2013	NUM
dem-8594	347	30	)	)	PUNCT
dem-8594	347	31	,	,	PUNCT
dem-8594	347	32	and	and	CCONJ
dem-8594	347	33	inefficiently	inefficiently	ADV
dem-8594	347	34	maintaining	maintain	VERB
dem-8594	347	35	too	too	ADV
dem-8594	347	36	high	high	ADJ
dem-8594	347	37	level	level	NOUN
dem-8594	347	38	of	of	ADP
dem-8594	347	39	capital	capital	NOUN
dem-8594	347	40	.	.	PUNCT
dem-8594	348	1	in	in	ADP
dem-8594	348	2	the	the	DET
dem-8594	348	3	case	case	NOUN
dem-8594	348	4	of	of	ADP
dem-8594	348	5	the	the	DET
dem-8594	348	6	commodities	commodity	NOUN
dem-8594	348	7	neither	neither	CCONJ
dem-8594	348	8	the	the	DET
dem-8594	348	9	encompassing	encompass	VERB
dem-8594	348	10	method	method	NOUN
dem-8594	348	11	nor	nor	CCONJ
dem-8594	348	12	the	the	DET
dem-8594	348	13	combining	combine	VERB
dem-8594	348	14	forecast	forecast	NOUN
dem-8594	348	15	method	method	NOUN
dem-8594	348	16	improve	improve	VERB
dem-8594	348	17	var	var	NOUN
dem-8594	348	18	forecasts	forecast	NOUN
dem-8594	348	19	.	.	PUNCT
dem-8594	349	1	the	the	DET
dem-8594	349	2	method	method	NOUN
dem-8594	349	3	of	of	ADP
dem-8594	349	4	choosing	choose	VERB
dem-8594	349	5	the	the	DET
dem-8594	349	6	most	most	ADV
dem-8594	349	7	adequate	adequate	ADJ
dem-8594	349	8	model	model	NOUN
dem-8594	349	9	presented	present	VERB
dem-8594	349	10	in	in	ADP
dem-8594	349	11	this	this	DET
dem-8594	349	12	paper	paper	NOUN
dem-8594	349	13	leads	lead	VERB
dem-8594	349	14	to	to	ADP
dem-8594	349	15	the	the	DET
dem-8594	349	16	caviar	caviar	PROPN
dem-8594	349	17	-	-	PUNCT
dem-8594	349	18	sav	sav	PROPN
dem-8594	349	19	model	model	NOUN
dem-8594	349	20	selection	selection	NOUN
dem-8594	349	21	as	as	ADP
dem-8594	349	22	the	the	DET
dem-8594	349	23	source	source	NOUN
dem-8594	349	24	of	of	ADP
dem-8594	349	25	most	most	ADV
dem-8594	349	26	optimal	optimal	ADJ
dem-8594	349	27	measure	measure	NOUN
dem-8594	349	28	of	of	ADP
dem-8594	349	29	risk	risk	NOUN
dem-8594	349	30	forecasts	forecast	NOUN
dem-8594	349	31	.	.	PUNCT
dem-8594	350	1	the	the	DET
dem-8594	350	2	kupiec	kupiec	NOUN
dem-8594	350	3	test	test	NOUN
dem-8594	350	4	,	,	PUNCT
dem-8594	350	5	the	the	DET
dem-8594	350	6	christoffersen	christoffersen	NOUN
dem-8594	350	7	and	and	CCONJ
dem-8594	350	8	the	the	DET
dem-8594	350	9	dynamic	dynamic	ADJ
dem-8594	350	10	quantile	quantile	ADJ
dem-8594	350	11	test	test	NOUN
dem-8594	350	12	indicate	indicate	VERB
dem-8594	350	13	the	the	DET
dem-8594	350	14	model	model	NOUN
dem-8594	350	15	as	as	ADP
dem-8594	350	16	an	an	DET
dem-8594	350	17	adequate	adequate	ADJ
dem-8594	350	18	to	to	PART
dem-8594	350	19	forecast	forecast	VERB
dem-8594	350	20	var	var	NOUN
dem-8594	350	21	for	for	ADP
dem-8594	350	22	gold	gold	NOUN
dem-8594	350	23	and	and	CCONJ
dem-8594	350	24	oil	oil	NOUN
dem-8594	350	25	for	for	ADP
dem-8594	350	26	short	short	ADJ
dem-8594	350	27	positions	position	NOUN
dem-8594	350	28	at	at	ADP
dem-8594	350	29	the	the	DET
dem-8594	350	30	0.01	0.01	NUM
dem-8594	350	31	and	and	CCONJ
dem-8594	350	32	the	the	DET
dem-8594	350	33	0.05	0.05	NUM
dem-8594	350	34	significance	significance	NOUN
dem-8594	350	35	level	level	NOUN
dem-8594	350	36	,	,	PUNCT
dem-8594	350	37	and	and	CCONJ
dem-8594	350	38	for	for	ADP
dem-8594	350	39	a	a	DET
dem-8594	350	40	long	long	ADJ
dem-8594	350	41	position	position	NOUN
dem-8594	350	42	at	at	ADP
dem-8594	350	43	the	the	DET
dem-8594	350	44	0.05	0.05	NUM
dem-8594	350	45	significance	significance	NOUN
dem-8594	350	46	level	level	NOUN
dem-8594	350	47	.	.	PUNCT
dem-8594	351	1	the	the	DET
dem-8594	351	2	model	model	NOUN
dem-8594	351	3	generates	generate	VERB
dem-8594	351	4	also	also	ADV
dem-8594	351	5	the	the	DET
dem-8594	351	6	lowest	low	ADJ
dem-8594	351	7	value	value	NOUN
dem-8594	351	8	of	of	ADP
dem-8594	351	9	loss	loss	NOUN
dem-8594	351	10	functions	function	NOUN
dem-8594	351	11	.	.	PUNCT
dem-8594	352	1	in	in	ADP
dem-8594	352	2	our	our	PRON
dem-8594	352	3	study	study	NOUN
dem-8594	352	4	,	,	PUNCT
dem-8594	352	5	none	none	NOUN
dem-8594	352	6	of	of	ADP
dem-8594	352	7	the	the	DET
dem-8594	352	8	models	model	NOUN
dem-8594	352	9	and	and	CCONJ
dem-8594	352	10	none	none	NOUN
dem-8594	352	11	of	of	ADP
dem-8594	352	12	the	the	DET
dem-8594	352	13	methods	method	NOUN
dem-8594	352	14	have	have	AUX
dem-8594	352	15	predicted	predict	VERB
dem-8594	352	16	adequately	adequately	ADV
dem-8594	352	17	the	the	DET
dem-8594	352	18	var	var	NOUN
dem-8594	352	19	for	for	ADP
dem-8594	352	20	a	a	DET
dem-8594	352	21	long	long	ADJ
dem-8594	352	22	position	position	NOUN
dem-8594	352	23	at	at	ADP
dem-8594	352	24	the	the	DET
dem-8594	352	25	0.01	0.01	NUM
dem-8594	352	26	significance	significance	NOUN
dem-8594	352	27	level	level	NOUN
dem-8594	352	28	,	,	PUNCT
dem-8594	352	29	leading	lead	VERB
dem-8594	352	30	to	to	ADP
dem-8594	352	31	the	the	DET
dem-8594	352	32	conclusion	conclusion	NOUN
dem-8594	352	33	that	that	SCONJ
dem-8594	352	34	the	the	DET
dem-8594	352	35	choice	choice	NOUN
dem-8594	352	36	of	of	ADP
dem-8594	352	37	model	model	NOUN
dem-8594	352	38	should	should	AUX
dem-8594	352	39	also	also	ADV
dem-8594	352	40	depend	depend	VERB
dem-8594	352	41	on	on	ADP
dem-8594	352	42	the	the	DET
dem-8594	352	43	financial	financial	ADJ
dem-8594	352	44	institution	institution	NOUN
dem-8594	352	45	's	's	PART
dem-8594	352	46	investment	investment	NOUN
dem-8594	352	47	strategy	strategy	NOUN
dem-8594	352	48	and	and	CCONJ
dem-8594	352	49	portfolio	portfolio	NOUN
dem-8594	352	50	structure	structure	NOUN
dem-8594	352	51	.	.	PUNCT
dem-8594	353	1	references	reference	NOUN
dem-8594	353	2	armendola	armendola	PROPN
dem-8594	353	3	,	,	PUNCT
dem-8594	353	4	a.	a.	PROPN
dem-8594	353	5	,	,	PUNCT
dem-8594	353	6	storti	storti	PROPN
dem-8594	353	7	,	,	PUNCT
dem-8594	353	8	g.	g.	PROPN
dem-8594	353	9	(	(	PUNCT
dem-8594	353	10	2008	2008	NUM
dem-8594	353	11	)	)	PUNCT
dem-8594	353	12	,	,	PUNCT
dem-8594	353	13	a	a	DET
dem-8594	353	14	gmm	gmm	NOUN
dem-8594	353	15	procedure	procedure	NOUN
dem-8594	353	16	for	for	ADP
dem-8594	353	17	combining	combine	VERB
dem-8594	353	18	volatility	volatility	NOUN
dem-8594	353	19	forecasts	forecast	NOUN
dem-8594	353	20	,	,	PUNCT
dem-8594	353	21	computational	computational	ADJ
dem-8594	353	22	statistics	statistic	NOUN
dem-8594	353	23	and	and	CCONJ
dem-8594	353	24	data	datum	NOUN
dem-8594	353	25	analysis	analysis	NOUN
dem-8594	353	26	,	,	PUNCT
dem-8594	353	27	52	52	NUM
dem-8594	353	28	,	,	PUNCT
dem-8594	353	29	3047–3060	3047–3060	NUM
dem-8594	353	30	.	.	PUNCT
dem-8594	354	1	armstrong	armstrong	PROPN
dem-8594	354	2	,	,	PUNCT
dem-8594	354	3	j.	j.	PROPN
dem-8594	354	4	s.	s.	PROPN
dem-8594	354	5	(	(	PUNCT
dem-8594	354	6	2001	2001	NUM
dem-8594	354	7	)	)	PUNCT
dem-8594	354	8	,	,	PUNCT
dem-8594	354	9	principles	principle	NOUN
dem-8594	354	10	of	of	ADP
dem-8594	354	11	forecasting	forecasting	NOUN
dem-8594	354	12	:	:	PUNCT
dem-8594	354	13	a	a	DET
dem-8594	354	14	handbook	handbook	NOUN
dem-8594	354	15	for	for	ADP
dem-8594	354	16	researchers	researcher	NOUN
dem-8594	354	17	and	and	CCONJ
dem-8594	354	18	practitioners	practitioner	NOUN
dem-8594	354	19	,	,	PUNCT
dem-8594	354	20	dordrecht	dordrecht	PROPN
dem-8594	354	21	,	,	PUNCT
dem-8594	354	22	kluwer	kluwer	NOUN
dem-8594	354	23	academic	academic	ADJ
dem-8594	354	24	publishers	publisher	NOUN
dem-8594	354	25	,	,	PUNCT
dem-8594	354	26	doi	doi	NOUN
dem-8594	354	27	:	:	PUNCT
dem-8594	354	28	http://dx.doi.org/10.1007/978-0-306-47630-3	http://dx.doi.org/10.1007/978-0-306-47630-3	PROPN
dem-8594	354	29	.	.	PUNCT
dem-8594	354	30	artzner	artzner	NOUN
dem-8594	354	31	,	,	PUNCT
dem-8594	354	32	p.	p.	PROPN
dem-8594	354	33	,	,	PUNCT
dem-8594	354	34	delbaen	delbaen	PROPN
dem-8594	354	35	,	,	PUNCT
dem-8594	354	36	f.	f.	PROPN
dem-8594	354	37	,	,	PUNCT
dem-8594	354	38	ebe	ebe	PROPN
dem-8594	354	39	,	,	PUNCT
dem-8594	354	40	r	r	NOUN
dem-8594	354	41	j.-m	j.-m	NOUN
dem-8594	354	42	.	.	PUNCT
dem-8594	354	43	,	,	PUNCT
dem-8594	354	44	heath	heath	PROPN
dem-8594	354	45	,	,	PUNCT
dem-8594	354	46	d.	d.	PROPN
dem-8594	354	47	(	(	PUNCT
dem-8594	354	48	1999	1999	NUM
dem-8594	354	49	)	)	PUNCT
dem-8594	354	50	,	,	PUNCT
dem-8594	354	51	coherent	coherent	ADJ
dem-8594	354	52	measures	measure	NOUN
dem-8594	354	53	of	of	ADP
dem-8594	354	54	risk	risk	NOUN
dem-8594	354	55	,	,	PUNCT
dem-8594	354	56	mathematical	mathematical	ADJ
dem-8594	354	57	finance	finance	NOUN
dem-8594	354	58	,	,	PUNCT
dem-8594	354	59	9	9	NUM
dem-8594	354	60	,	,	PUNCT
dem-8594	354	61	203–228	203–228	NUM
dem-8594	354	62	.	.	PUNCT
dem-8594	354	63	bates	bates	PROPN
dem-8594	354	64	,	,	PUNCT
dem-8594	354	65	j.	j.	PROPN
dem-8594	354	66	m.	m.	PROPN
dem-8594	354	67	,	,	PUNCT
dem-8594	354	68	granger	granger	PROPN
dem-8594	354	69	,	,	PUNCT
dem-8594	354	70	c.	c.	PROPN
dem-8594	354	71	w.	w.	PROPN
dem-8594	354	72	j.	j.	PROPN
dem-8594	354	73	(	(	PUNCT
dem-8594	354	74	1969	1969	NUM
dem-8594	354	75	)	)	PUNCT
dem-8594	354	76	,	,	PUNCT
dem-8594	354	77	the	the	DET
dem-8594	354	78	combination	combination	NOUN
dem-8594	354	79	of	of	ADP
dem-8594	354	80	forecasts	forecast	NOUN
dem-8594	354	81	,	,	PUNCT
dem-8594	354	82	operations	operation	NOUN
dem-8594	354	83	research	research	VERB
dem-8594	354	84	quarterly	quarterly	ADV
dem-8594	354	85	,	,	PUNCT
dem-8594	354	86	20	20	NUM
dem-8594	354	87	,	,	PUNCT
dem-8594	354	88	451–468	451–468	NUM
dem-8594	354	89	,	,	PUNCT
dem-8594	354	90	doi	doi	NOUN
dem-8594	354	91	:	:	PUNCT
dem-8594	354	92	http://dx.doi.org/10.2307/3008764	http://dx.doi.org/10.2307/3008764	PROPN
dem-8594	354	93	.	.	PUNCT
dem-8594	355	1	blair	blair	PROPN
dem-8594	355	2	,	,	PUNCT
dem-8594	355	3	b.	b.	PROPN
dem-8594	355	4	j	j	PROPN
dem-8594	355	5	,	,	PUNCT
dem-8594	355	6	poon	poon	NOUN
dem-8594	355	7	,	,	PUNCT
dem-8594	355	8	s	s	PART
dem-8594	355	9	.h	.h	NOUN
dem-8594	355	10	.	.	PUNCT
dem-8594	355	11	,	,	PUNCT
dem-8594	355	12	taylor	taylor	PROPN
dem-8594	355	13	,	,	PUNCT
dem-8594	355	14	s.	s.	PROPN
dem-8594	355	15	j.	j.	PROPN
dem-8594	355	16	(	(	PUNCT
dem-8594	355	17	2001	2001	NUM
dem-8594	355	18	)	)	PUNCT
dem-8594	355	19	,	,	PUNCT
dem-8594	355	20	forecasting	forecast	VERB
dem-8594	355	21	s&p	s&p	PROPN
dem-8594	355	22	100	100	NUM
dem-8594	355	23	volatility	volatility	NOUN
dem-8594	355	24	:	:	PUNCT
dem-8594	355	25	the	the	DET
dem-8594	355	26	incremental	incremental	ADJ
dem-8594	355	27	information	information	NOUN
dem-8594	355	28	content	content	NOUN
dem-8594	355	29	of	of	ADP
dem-8594	355	30	implied	imply	VERB
dem-8594	355	31	volatilities	volatility	NOUN
dem-8594	355	32	and	and	CCONJ
dem-8594	355	33	high	high	ADJ
dem-8594	355	34	-	-	PUNCT
dem-8594	355	35	frequency	frequency	NOUN
dem-8594	355	36	index	index	NOUN
dem-8594	355	37	returns	return	NOUN
dem-8594	355	38	,	,	PUNCT
dem-8594	355	39	journal	journal	NOUN
dem-8594	355	40	of	of	ADP
dem-8594	355	41	econometrics	econometric	NOUN
dem-8594	355	42	,	,	PUNCT
dem-8594	355	43	105	105	NUM
dem-8594	355	44	,	,	PUNCT
dem-8594	355	45	5–26	5–26	ADJ
dem-8594	355	46	,	,	PUNCT
dem-8594	355	47	doi	doi	NOUN
dem-8594	355	48	:	:	PUNCT
dem-8594	355	49	http://dx.doi.org/10.1016/s0304-4076(01)00068-9	http://dx.doi.org/10.1016/s0304-4076(01)00068-9	PROPN
dem-8594	355	50	.	.	PROPN
dem-8594	355	51	boudoukh	boudoukh	PROPN
dem-8594	355	52	,	,	PUNCT
dem-8594	355	53	j.	j.	PROPN
dem-8594	355	54	,	,	PUNCT
dem-8594	355	55	richardson	richardson	PROPN
dem-8594	355	56	,	,	PUNCT
dem-8594	355	57	m.	m.	NOUN
dem-8594	355	58	,	,	PUNCT
dem-8594	355	59	whitelaw	whitelaw	PROPN
dem-8594	355	60	,	,	PUNCT
dem-8594	355	61	r.	r.	PROPN
dem-8594	355	62	f.	f.	PROPN
dem-8594	355	63	(	(	PUNCT
dem-8594	355	64	1998	1998	NUM
dem-8594	355	65	)	)	PUNCT
dem-8594	355	66	,	,	PUNCT
dem-8594	355	67	the	the	DET
dem-8594	355	68	best	good	ADJ
dem-8594	355	69	of	of	ADP
dem-8594	355	70	both	both	DET
dem-8594	355	71	worlds	world	NOUN
dem-8594	355	72	,	,	PUNCT
dem-8594	355	73	risk	risk	NOUN
dem-8594	355	74	,	,	PUNCT
dem-8594	355	75	11	11	NUM
dem-8594	355	76	,	,	PUNCT
dem-8594	355	77	64–67	64–67	NUM
dem-8594	355	78	.	.	PUNCT
dem-8594	356	1	bunn	bunn	PROPN
dem-8594	356	2	,	,	PUNCT
dem-8594	356	3	d.	d.	PROPN
dem-8594	356	4	w.	w.	PROPN
dem-8594	356	5	(	(	PUNCT
dem-8594	356	6	1989	1989	NUM
dem-8594	356	7	)	)	PUNCT
dem-8594	356	8	,	,	PUNCT
dem-8594	356	9	forecasting	forecast	VERB
dem-8594	356	10	with	with	ADP
dem-8594	356	11	more	more	ADJ
dem-8594	356	12	than	than	ADP
dem-8594	356	13	one	one	NUM
dem-8594	356	14	model	model	NOUN
dem-8594	356	15	,	,	PUNCT
dem-8594	356	16	journal	journal	NOUN
dem-8594	356	17	of	of	ADP
dem-8594	356	18	forecasting	forecasting	NOUN
dem-8594	356	19	,	,	PUNCT
dem-8594	356	20	8	8	NUM
dem-8594	356	21	,	,	PUNCT
dem-8594	356	22	161–166	161–166	NUM
dem-8594	356	23	,	,	PUNCT
dem-8594	356	24	doi	doi	NOUN
dem-8594	356	25	:	:	PUNCT
dem-8594	356	26	http://dx.doi.org/10.1002/for.3980080302	http://dx.doi.org/10.1002/for.3980080302	PROPN
dem-8594	356	27	.	.	PUNCT
dem-8594	356	28	chong	chong	PROPN
dem-8594	356	29	,	,	PUNCT
dem-8594	356	30	j.	j.	PROPN
dem-8594	356	31	(	(	PUNCT
dem-8594	356	32	2004	2004	NUM
dem-8594	356	33	)	)	PUNCT
dem-8594	356	34	,	,	PUNCT
dem-8594	356	35	value	value	NOUN
dem-8594	356	36	at	at	ADP
dem-8594	356	37	risk	risk	NOUN
dem-8594	356	38	from	from	ADP
dem-8594	356	39	econometric	econometric	ADJ
dem-8594	356	40	models	model	NOUN
dem-8594	356	41	and	and	CCONJ
dem-8594	356	42	implied	imply	VERB
dem-8594	356	43	from	from	ADP
dem-8594	356	44	currency	currency	NOUN
dem-8594	356	45	options	option	NOUN
dem-8594	356	46	,	,	PUNCT
dem-8594	356	47	journal	journal	NOUN
dem-8594	356	48	of	of	ADP
dem-8594	356	49	forecasting	forecasting	NOUN
dem-8594	356	50	,	,	PUNCT
dem-8594	356	51	23	23	NUM
dem-8594	356	52	,	,	PUNCT
dem-8594	356	53	603–620	603–620	NUM
dem-8594	356	54	,	,	PUNCT
dem-8594	356	55	doi	doi	NOUN
dem-8594	356	56	:	:	PUNCT
dem-8594	356	57	http://dx.doi.org/10.1002/for.934	http://dx.doi.org/10.1002/for.934	PROPN
dem-8594	356	58	.	.	PUNCT
dem-8594	357	1	chong	chong	PROPN
dem-8594	357	2	,	,	PUNCT
dem-8594	357	3	y.	y.	PROPN
dem-8594	357	4	,	,	PUNCT
dem-8594	357	5	henry	henry	PROPN
dem-8594	357	6	,	,	PUNCT
dem-8594	357	7	d.	d.	PROPN
dem-8594	357	8	f.	f.	PROPN
dem-8594	357	9	(	(	PUNCT
dem-8594	357	10	1986	1986	NUM
dem-8594	357	11	)	)	PUNCT
dem-8594	357	12	,	,	PUNCT
dem-8594	357	13	econometric	econometric	ADJ
dem-8594	357	14	evaluation	evaluation	NOUN
dem-8594	357	15	of	of	ADP
dem-8594	357	16	linear	linear	PROPN
dem-8594	357	17	macro	macro	ADJ
dem-8594	357	18	-	-	ADJ
dem-8594	357	19	economic	economic	ADJ
dem-8594	357	20	models	model	NOUN
dem-8594	357	21	,	,	PUNCT
dem-8594	357	22	review	review	NOUN
dem-8594	357	23	of	of	ADP
dem-8594	357	24	economic	economic	ADJ
dem-8594	357	25	studies	study	NOUN
dem-8594	357	26	,	,	PUNCT
dem-8594	357	27	53	53	NUM
dem-8594	357	28	,	,	PUNCT
dem-8594	357	29	671–690	671–690	NUM
dem-8594	357	30	,	,	PUNCT
dem-8594	357	31	doi	doi	NOUN
dem-8594	357	32	:	:	PUNCT
dem-8594	357	33	http://dx.doi.org/10.2307/2297611	http://dx.doi.org/10.2307/2297611	PROPN
dem-8594	357	34	.	.	PUNCT
dem-8594	358	1	christoffersen	christoffersen	VERB
dem-8594	358	2	,	,	PUNCT
dem-8594	358	3	p.	p.	NOUN
dem-8594	358	4	(	(	PUNCT
dem-8594	358	5	1998	1998	NUM
dem-8594	358	6	)	)	PUNCT
dem-8594	358	7	,	,	PUNCT
dem-8594	358	8	evaluating	evaluate	VERB
dem-8594	358	9	interval	interval	NOUN
dem-8594	358	10	forecasts	forecast	NOUN
dem-8594	358	11	,	,	PUNCT
dem-8594	358	12	international	international	ADJ
dem-8594	358	13	economics	economic	NOUN
dem-8594	358	14	review	review	NOUN
dem-8594	358	15	,	,	PUNCT
dem-8594	358	16	39	39	NUM
dem-8594	358	17	,	,	PUNCT
dem-8594	358	18	841–862	841–862	NUM
dem-8594	358	19	,	,	PUNCT
dem-8594	358	20	doi	doi	NOUN
dem-8594	358	21	:	:	PUNCT
dem-8594	358	22	http://dx.doi.org/10.2307/2527341	http://dx.doi.org/10.2307/2527341	PROPN
dem-8594	358	23	.	.	PUNCT
dem-8594	359	1	ewa	ewa	PROPN
dem-8594	359	2	ratuszny	ratuszny	VERB
dem-8594	359	3	dynamic	dynamic	ADJ
dem-8594	359	4	econometric	econometric	ADJ
dem-8594	359	5	models	model	NOUN
dem-8594	359	6	15	15	NUM
dem-8594	359	7	(	(	PUNCT
dem-8594	359	8	2015	2015	NUM
dem-8594	359	9	)	)	PUNCT
dem-8594	359	10	129–156	129–156	NUM
dem-8594	359	11	154	154	NUM
dem-8594	359	12	christoffersen	christoffersen	NOUN
dem-8594	359	13	,	,	PUNCT
dem-8594	359	14	p	p	NOUN
dem-8594	359	15	.f	.f	NOUN
dem-8594	359	16	.	.	PUNCT
dem-8594	359	17	,	,	PUNCT
dem-8594	359	18	mazzotta	mazzotta	NOUN
dem-8594	359	19	,	,	PUNCT
dem-8594	359	20	s.	s.	PROPN
dem-8594	359	21	(	(	PUNCT
dem-8594	359	22	2005	2005	NUM
dem-8594	359	23	)	)	PUNCT
dem-8594	359	24	,	,	PUNCT
dem-8594	359	25	the	the	DET
dem-8594	359	26	accuracy	accuracy	NOUN
dem-8594	359	27	of	of	ADP
dem-8594	359	28	density	density	NOUN
dem-8594	359	29	forecasts	forecast	NOUN
dem-8594	359	30	from	from	ADP
dem-8594	359	31	foreign	foreign	ADJ
dem-8594	359	32	exchange	exchange	NOUN
dem-8594	359	33	options	option	NOUN
dem-8594	359	34	,	,	PUNCT
dem-8594	359	35	journal	journal	NOUN
dem-8594	359	36	of	of	ADP
dem-8594	359	37	financial	financial	ADJ
dem-8594	359	38	econometrics	econometric	NOUN
dem-8594	359	39	,	,	PUNCT
dem-8594	359	40	3	3	NUM
dem-8594	359	41	,	,	PUNCT
dem-8594	359	42	578–605	578–605	NUM
dem-8594	359	43	,	,	PUNCT
dem-8594	359	44	doi	doi	NOUN
dem-8594	359	45	:	:	PUNCT
dem-8594	359	46	http://dx.doi.org/10.1093/jjfinec/nbi021	http://dx.doi.org/10.1093/jjfinec/nbi021	PROPN
dem-8594	359	47	.	.	PROPN
dem-8594	359	48	claessen	claessen	PROPN
dem-8594	359	49	,	,	PUNCT
dem-8594	359	50	h	h	NOUN
dem-8594	359	51	,	,	PUNCT
dem-8594	359	52	mittnik	mittnik	NOUN
dem-8594	359	53	,	,	PUNCT
dem-8594	359	54	s.	s.	PROPN
dem-8594	359	55	(	(	PUNCT
dem-8594	359	56	2002	2002	NUM
dem-8594	359	57	)	)	PUNCT
dem-8594	359	58	,	,	PUNCT
dem-8594	359	59	forecasting	forecast	VERB
dem-8594	359	60	stock	stock	NOUN
dem-8594	359	61	market	market	NOUN
dem-8594	359	62	volatility	volatility	NOUN
dem-8594	359	63	and	and	CCONJ
dem-8594	359	64	the	the	DET
dem-8594	359	65	informational	informational	ADJ
dem-8594	359	66	efficiency	efficiency	NOUN
dem-8594	359	67	of	of	ADP
dem-8594	359	68	the	the	DET
dem-8594	359	69	dax	dax	PROPN
dem-8594	359	70	-	-	PUNCT
dem-8594	359	71	index	index	NOUN
dem-8594	359	72	options	option	NOUN
dem-8594	359	73	market	market	NOUN
dem-8594	359	74	,	,	PUNCT
dem-8594	359	75	the	the	DET
dem-8594	359	76	european	european	PROPN
dem-8594	359	77	journal	journal	PROPN
dem-8594	359	78	of	of	ADP
dem-8594	359	79	finance	finance	NOUN
dem-8594	359	80	,	,	PUNCT
dem-8594	359	81	8	8	NUM
dem-8594	359	82	,	,	PUNCT
dem-8594	359	83	302–321	302–321	NUM
dem-8594	359	84	,	,	PUNCT
dem-8594	359	85	doi	doi	NOUN
dem-8594	359	86	:	:	PUNCT
dem-8594	359	87	http://dx.doi.org/10.1080/13518470110074828	http://dx.doi.org/10.1080/13518470110074828	PROPN
dem-8594	359	88	.	.	PUNCT
dem-8594	360	1	clemen	clemen	PROPN
dem-8594	360	2	,	,	PUNCT
dem-8594	360	3	r.	r.	PROPN
dem-8594	360	4	t.	t.	PROPN
dem-8594	360	5	(	(	PUNCT
dem-8594	360	6	1986	1986	NUM
dem-8594	360	7	)	)	PUNCT
dem-8594	360	8	,	,	PUNCT
dem-8594	360	9	linear	linear	NOUN
dem-8594	360	10	constraints	constraint	NOUN
dem-8594	360	11	and	and	CCONJ
dem-8594	360	12	the	the	DET
dem-8594	360	13	efficiency	efficiency	NOUN
dem-8594	360	14	of	of	ADP
dem-8594	360	15	combined	combined	ADJ
dem-8594	360	16	forecasts	forecast	NOUN
dem-8594	360	17	,	,	PUNCT
dem-8594	360	18	journal	journal	NOUN
dem-8594	360	19	of	of	ADP
dem-8594	360	20	forecasting	forecasting	NOUN
dem-8594	360	21	,	,	PUNCT
dem-8594	360	22	5	5	NUM
dem-8594	360	23	,	,	PUNCT
dem-8594	360	24	31–38	31–38	NUM
dem-8594	360	25	,	,	PUNCT
dem-8594	360	26	doi	doi	NOUN
dem-8594	360	27	:	:	PUNCT
dem-8594	360	28	http://dx.doi.org/10.1002/for.3980050104	http://dx.doi.org/10.1002/for.3980050104	PROPN
dem-8594	360	29	.	.	PUNCT
dem-8594	361	1	corredor	corredor	PROPN
dem-8594	361	2	,	,	PUNCT
dem-8594	361	3	p.	p.	PROPN
dem-8594	361	4	,	,	PUNCT
dem-8594	361	5	santamaria	santamaria	PROPN
dem-8594	361	6	,	,	PUNCT
dem-8594	361	7	r.	r.	PROPN
dem-8594	361	8	(	(	PUNCT
dem-8594	361	9	2004	2004	NUM
dem-8594	361	10	)	)	PUNCT
dem-8594	361	11	,	,	PUNCT
dem-8594	361	12	forecasting	forecast	VERB
dem-8594	361	13	volatility	volatility	NOUN
dem-8594	361	14	in	in	ADP
dem-8594	361	15	the	the	DET
dem-8594	361	16	spanish	spanish	ADJ
dem-8594	361	17	option	option	NOUN
dem-8594	361	18	market	market	NOUN
dem-8594	361	19	,	,	PUNCT
dem-8594	361	20	applied	apply	VERB
dem-8594	361	21	financial	financial	ADJ
dem-8594	361	22	econometrics	econometric	NOUN
dem-8594	361	23	,	,	PUNCT
dem-8594	361	24	14	14	NUM
dem-8594	361	25	,	,	PUNCT
dem-8594	361	26	1–11	1–11	PROPN
dem-8594	361	27	,	,	PUNCT
dem-8594	361	28	doi	doi	NOUN
dem-8594	361	29	:	:	PUNCT
dem-8594	361	30	http://dx.doi.org/10.1080/0960310042000164176	http://dx.doi.org/10.1080/0960310042000164176	NOUN
dem-8594	361	31	.	.	PUNCT
dem-8594	362	1	crane	crane	PROPN
dem-8594	362	2	,	,	PUNCT
dem-8594	362	3	d.	d.	PROPN
dem-8594	362	4	b.	b.	PROPN
dem-8594	362	5	,	,	PUNCT
dem-8594	362	6	crotty	crotty	PROPN
dem-8594	362	7	,	,	PUNCT
dem-8594	362	8	j.	j.	PROPN
dem-8594	362	9	r.	r.	PROPN
dem-8594	362	10	(	(	PUNCT
dem-8594	362	11	1967	1967	NUM
dem-8594	362	12	)	)	PUNCT
dem-8594	362	13	,	,	PUNCT
dem-8594	362	14	a	a	DET
dem-8594	362	15	two	two	NUM
dem-8594	362	16	-	-	PUNCT
dem-8594	362	17	stage	stage	NOUN
dem-8594	362	18	forecasting	forecasting	NOUN
dem-8594	362	19	model	model	NOUN
dem-8594	362	20	:	:	PUNCT
dem-8594	362	21	exponential	exponential	ADJ
dem-8594	362	22	smoothing	smoothing	NOUN
dem-8594	362	23	and	and	CCONJ
dem-8594	362	24	multiple	multiple	ADJ
dem-8594	362	25	regression	regression	NOUN
dem-8594	362	26	,	,	PUNCT
dem-8594	362	27	management	management	NOUN
dem-8594	362	28	science	science	NOUN
dem-8594	362	29	,	,	PUNCT
dem-8594	362	30	13	13	NUM
dem-8594	362	31	,	,	PUNCT
dem-8594	362	32	501–507	501–507	NUM
dem-8594	362	33	,	,	PUNCT
dem-8594	362	34	doi	doi	NOUN
dem-8594	362	35	:	:	PUNCT
dem-8594	362	36	http://dx.doi.org/10.1016/b978-0-08-019605-3.50019-5	http://dx.doi.org/10.1016/b978-0-08-019605-3.50019-5	PROPN
dem-8594	362	37	.	.	PUNCT
dem-8594	363	1	day	day	PROPN
dem-8594	363	2	,	,	PUNCT
dem-8594	363	3	t.	t.	PROPN
dem-8594	363	4	e.	e.	PROPN
dem-8594	363	5	,	,	PUNCT
dem-8594	363	6	lewis	lewis	PROPN
dem-8594	363	7	,	,	PUNCT
dem-8594	363	8	c.	c.	PROPN
dem-8594	363	9	m.	m.	NOUN
dem-8594	363	10	(	(	PUNCT
dem-8594	363	11	1992	1992	NUM
dem-8594	363	12	)	)	PUNCT
dem-8594	363	13	,	,	PUNCT
dem-8594	363	14	stock	stock	NOUN
dem-8594	363	15	market	market	NOUN
dem-8594	363	16	volatility	volatility	NOUN
dem-8594	363	17	and	and	CCONJ
dem-8594	363	18	the	the	DET
dem-8594	363	19	information	information	NOUN
dem-8594	363	20	content	content	NOUN
dem-8594	363	21	of	of	ADP
dem-8594	363	22	stock	stock	NOUN
dem-8594	363	23	index	index	NOUN
dem-8594	363	24	options	option	NOUN
dem-8594	363	25	,	,	PUNCT
dem-8594	363	26	journal	journal	NOUN
dem-8594	363	27	of	of	ADP
dem-8594	363	28	econometrics	econometric	NOUN
dem-8594	363	29	,	,	PUNCT
dem-8594	363	30	52	52	NUM
dem-8594	363	31	,	,	PUNCT
dem-8594	363	32	267–287	267–287	NUM
dem-8594	363	33	,	,	PUNCT
dem-8594	363	34	doi	doi	NOUN
dem-8594	363	35	:	:	PUNCT
dem-8594	363	36	http://dx.doi.org/10.1016/0304-4076(92)90073-z	http://dx.doi.org/10.1016/0304-4076(92)90073-z	PROPN
dem-8594	363	37	.	.	PUNCT
dem-8594	363	38	diebold	diebold	PROPN
dem-8594	363	39	,	,	PUNCT
dem-8594	363	40	f.	f.	PROPN
dem-8594	363	41	x.	x.	PROPN
dem-8594	364	1	(	(	PUNCT
dem-8594	364	2	1988	1988	NUM
dem-8594	364	3	)	)	PUNCT
dem-8594	364	4	,	,	PUNCT
dem-8594	364	5	serial	serial	ADJ
dem-8594	364	6	correlation	correlation	NOUN
dem-8594	364	7	and	and	CCONJ
dem-8594	364	8	combination	combination	NOUN
dem-8594	364	9	of	of	ADP
dem-8594	364	10	forecasts	forecast	NOUN
dem-8594	364	11	,	,	PUNCT
dem-8594	364	12	journal	journal	NOUN
dem-8594	364	13	of	of	ADP
dem-8594	364	14	business	business	NOUN
dem-8594	364	15	and	and	CCONJ
dem-8594	364	16	economic	economic	ADJ
dem-8594	364	17	statistics	statistic	NOUN
dem-8594	364	18	,	,	PUNCT
dem-8594	364	19	6	6	NUM
dem-8594	364	20	,	,	PUNCT
dem-8594	364	21	105–111	105–111	NUM
dem-8594	364	22	,	,	PUNCT
dem-8594	364	23	doi	doi	NOUN
dem-8594	364	24	:	:	PUNCT
dem-8594	364	25	http://dx.doi.org/10.1080/07350015.1988.10509642	http://dx.doi.org/10.1080/07350015.1988.10509642	PROPN
dem-8594	364	26	.	.	PUNCT
dem-8594	365	1	diebold	diebold	PROPN
dem-8594	365	2	,	,	PUNCT
dem-8594	365	3	f.	f.	PROPN
dem-8594	365	4	x.	x.	PROPN
dem-8594	365	5	(	(	PUNCT
dem-8594	365	6	1989	1989	NUM
dem-8594	365	7	)	)	PUNCT
dem-8594	365	8	,	,	PUNCT
dem-8594	365	9	forecast	forecast	NOUN
dem-8594	365	10	combination	combination	NOUN
dem-8594	365	11	and	and	CCONJ
dem-8594	365	12	ecompassing	ecompassing	NOUN
dem-8594	365	13	:	:	PUNCT
dem-8594	365	14	reconciling	reconcile	VERB
dem-8594	365	15	two	two	NUM
dem-8594	365	16	divergent	divergent	ADJ
dem-8594	365	17	literatures	literature	NOUN
dem-8594	365	18	,	,	PUNCT
dem-8594	365	19	international	international	ADJ
dem-8594	365	20	journal	journal	NOUN
dem-8594	365	21	of	of	ADP
dem-8594	365	22	forecasting	forecasting	NOUN
dem-8594	365	23	,	,	PUNCT
dem-8594	365	24	2	2	NUM
dem-8594	365	25	,	,	PUNCT
dem-8594	365	26	589–592	589–592	NUM
dem-8594	365	27	.	.	PUNCT
dem-8594	366	1	doidge	doidge	PROPN
dem-8594	366	2	,	,	PUNCT
dem-8594	366	3	c.	c.	PROPN
dem-8594	366	4	,	,	PUNCT
dem-8594	366	5	wei	wei	PROPN
dem-8594	366	6	,	,	PUNCT
dem-8594	366	7	j.	j.	PROPN
dem-8594	366	8	z.	z.	PROPN
dem-8594	366	9	(	(	PUNCT
dem-8594	366	10	1998	1998	NUM
dem-8594	366	11	)	)	PUNCT
dem-8594	366	12	,	,	PUNCT
dem-8594	366	13	volatility	volatility	NOUN
dem-8594	366	14	forecasting	forecasting	NOUN
dem-8594	366	15	and	and	CCONJ
dem-8594	366	16	the	the	DET
dem-8594	366	17	efficiency	efficiency	NOUN
dem-8594	366	18	of	of	ADP
dem-8594	366	19	the	the	DET
dem-8594	366	20	toronto	toronto	PROPN
dem-8594	366	21	35	35	NUM
dem-8594	366	22	index	index	NOUN
dem-8594	366	23	options	option	NOUN
dem-8594	366	24	market	market	NOUN
dem-8594	366	25	,	,	PUNCT
dem-8594	366	26	canadian	canadian	ADJ
dem-8594	366	27	journal	journal	NOUN
dem-8594	366	28	of	of	ADP
dem-8594	366	29	administrative	administrative	ADJ
dem-8594	366	30	sciences	science	NOUN
dem-8594	366	31	,	,	PUNCT
dem-8594	366	32	15	15	NUM
dem-8594	366	33	,	,	PUNCT
dem-8594	366	34	28–38	28–38	NUM
dem-8594	366	35	,	,	PUNCT
dem-8594	366	36	doi	doi	NOUN
dem-8594	366	37	:	:	PUNCT
dem-8594	367	1	http://dx.doi.org/10.1111/j.1936-4490.1998.tb00150.x	http://dx.doi.org/10.1111/j.1936-4490.1998.tb00150.x	PROPN
dem-8594	367	2	.	.	PUNCT
dem-8594	367	3	doman	doman	PROPN
dem-8594	367	4	,	,	PUNCT
dem-8594	367	5	m.	m.	NOUN
dem-8594	367	6	,	,	PUNCT
dem-8594	367	7	doman	doman	PROPN
dem-8594	367	8	,	,	PUNCT
dem-8594	367	9	r.	r.	PROPN
dem-8594	367	10	(	(	PUNCT
dem-8594	367	11	2009	2009	NUM
dem-8594	367	12	)	)	PUNCT
dem-8594	367	13	,	,	PUNCT
dem-8594	367	14	volatility	volatility	NOUN
dem-8594	367	15	and	and	CCONJ
dem-8594	367	16	risk	risk	NOUN
dem-8594	367	17	modeling	modeling	NOUN
dem-8594	367	18	,	,	PUNCT
dem-8594	367	19	oficyna	oficyna	PROPN
dem-8594	367	20	wolters	wolters	PROPN
dem-8594	367	21	kluwer	kluwer	PROPN
dem-8594	367	22	business	business	PROPN
dem-8594	367	23	,	,	PUNCT
dem-8594	367	24	kraków	kraków	PROPN
dem-8594	367	25	.	.	PUNCT
dem-8594	368	1	donaldson	donaldson	PROPN
dem-8594	368	2	,	,	PUNCT
dem-8594	368	3	r.	r.	PROPN
dem-8594	368	4	g.	g.	PROPN
dem-8594	368	5	,	,	PUNCT
dem-8594	368	6	kamstra	kamstra	PROPN
dem-8594	368	7	,	,	PUNCT
dem-8594	368	8	m.	m.	NOUN
dem-8594	368	9	j.	j.	PROPN
dem-8594	368	10	(	(	PUNCT
dem-8594	368	11	2005	2005	NUM
dem-8594	368	12	)	)	PUNCT
dem-8594	368	13	,	,	PUNCT
dem-8594	368	14	volatility	volatility	NOUN
dem-8594	368	15	forecasts	forecast	NOUN
dem-8594	368	16	,	,	PUNCT
dem-8594	368	17	trading	trading	NOUN
dem-8594	368	18	volume	volume	NOUN
dem-8594	368	19	,	,	PUNCT
dem-8594	368	20	and	and	CCONJ
dem-8594	368	21	the	the	DET
dem-8594	368	22	arch	arch	NOUN
dem-8594	368	23	versus	versus	ADP
dem-8594	368	24	option	option	NOUN
dem-8594	368	25	-	-	PUNCT
dem-8594	368	26	implied	imply	VERB
dem-8594	368	27	volatility	volatility	NOUN
dem-8594	368	28	trade	trade	NOUN
dem-8594	368	29	-	-	PUNCT
dem-8594	368	30	off	off	NOUN
dem-8594	368	31	,	,	PUNCT
dem-8594	368	32	the	the	DET
dem-8594	368	33	journal	journal	NOUN
dem-8594	368	34	of	of	ADP
dem-8594	368	35	financial	financial	ADJ
dem-8594	368	36	research	research	NOUN
dem-8594	368	37	,	,	PUNCT
dem-8594	368	38	28	28	NUM
dem-8594	368	39	,	,	PUNCT
dem-8594	368	40	519–538	519–538	NUM
dem-8594	368	41	,	,	PUNCT
dem-8594	368	42	doi	doi	NOUN
dem-8594	368	43	:	:	PUNCT
dem-8594	368	44	http://dx.doi.org/10.1111/j.1475-6803.2005.00137.x	http://dx.doi.org/10.1111/j.1475-6803.2005.00137.x	NOUN
dem-8594	368	45	.	.	PUNCT
dem-8594	369	1	capital	capital	NOUN
dem-8594	369	2	requirements	requirement	NOUN
dem-8594	369	3	directive	directive	VERB
dem-8594	369	4	iv	iv	ADP
dem-8594	369	5	,	,	PUNCT
dem-8594	369	6	crd	crd	PROPN
dem-8594	369	7	iv	iv	NUM
dem-8594	369	8	,	,	PUNCT
dem-8594	369	9	dz	dz	PROPN
dem-8594	369	10	.	.	PROPN
dem-8594	369	11	urz	urz	PROPN
dem-8594	369	12	.	.	PUNCT
dem-8594	370	1	ue	ue	PROPN
dem-8594	371	1	l176	l176	PROPN
dem-8594	371	2	,	,	PUNCT
dem-8594	371	3	june	june	PROPN
dem-8594	371	4	27th	27th	NOUN
dem-8594	371	5	,	,	PUNCT
dem-8594	371	6	2013	2013	NUM
dem-8594	371	7	.	.	PUNCT
dem-8594	372	1	engle	engle	PROPN
dem-8594	372	2	,	,	PUNCT
dem-8594	372	3	r.	r.	PROPN
dem-8594	372	4	f.	f.	PROPN
dem-8594	372	5	,	,	PUNCT
dem-8594	372	6	manganelli	manganelli	PROPN
dem-8594	372	7	,	,	PUNCT
dem-8594	372	8	s.	s.	PROPN
dem-8594	372	9	(	(	PUNCT
dem-8594	372	10	2004	2004	NUM
dem-8594	372	11	)	)	PUNCT
dem-8594	372	12	,	,	PUNCT
dem-8594	372	13	caviar	caviar	PROPN
dem-8594	372	14	:	:	PUNCT
dem-8594	372	15	conditional	conditional	ADJ
dem-8594	372	16	autoregressive	autoregressive	ADJ
dem-8594	372	17	value	value	NOUN
dem-8594	372	18	at	at	ADP
dem-8594	372	19	risk	risk	NOUN
dem-8594	372	20	by	by	ADP
dem-8594	372	21	regression	regression	NOUN
dem-8594	372	22	quantiles	quantile	NOUN
dem-8594	372	23	,	,	PUNCT
dem-8594	372	24	journal	journal	NOUN
dem-8594	372	25	of	of	ADP
dem-8594	372	26	business	business	NOUN
dem-8594	372	27	and	and	CCONJ
dem-8594	372	28	economic	economic	ADJ
dem-8594	372	29	statistics	statistic	NOUN
dem-8594	372	30	,	,	PUNCT
dem-8594	372	31	22	22	NUM
dem-8594	372	32	,	,	PUNCT
dem-8594	372	33	367–381	367–381	NUM
dem-8594	372	34	,	,	PUNCT
dem-8594	372	35	doi	doi	NOUN
dem-8594	372	36	:	:	PUNCT
dem-8594	372	37	http://dx.doi.org/10.1198/073500104000000370	http://dx.doi.org/10.1198/073500104000000370	PROPN
dem-8594	372	38	.	.	PUNCT
dem-8594	373	1	fiszeder	fiszeder	PROPN
dem-8594	373	2	,	,	PUNCT
dem-8594	373	3	p.	p.	NOUN
dem-8594	373	4	(	(	PUNCT
dem-8594	373	5	2009	2009	NUM
dem-8594	373	6	)	)	PUNCT
dem-8594	373	7	,	,	PUNCT
dem-8594	373	8	garch	garch	NOUN
dem-8594	373	9	class	class	NOUN
dem-8594	373	10	models	model	NOUN
dem-8594	373	11	in	in	ADP
dem-8594	373	12	empirical	empirical	ADJ
dem-8594	373	13	financial	financial	ADJ
dem-8594	373	14	research	research	NOUN
dem-8594	373	15	,	,	PUNCT
dem-8594	373	16	wydawnictwo	wydawnictwo	PROPN
dem-8594	373	17	naukowe	naukowe	NOUN
dem-8594	373	18	umk	umk	PROPN
dem-8594	373	19	,	,	PUNCT
dem-8594	373	20	toruń	toruń	NOUN
dem-8594	373	21	.	.	PUNCT
dem-8594	374	1	giacomini	giacomini	PROPN
dem-8594	374	2	,	,	PUNCT
dem-8594	374	3	r.	r.	PROPN
dem-8594	374	4	,	,	PUNCT
dem-8594	374	5	komunjer	komunjer	PROPN
dem-8594	374	6	,	,	PUNCT
dem-8594	374	7	i.	i.	PROPN
dem-8594	374	8	(	(	PUNCT
dem-8594	374	9	2005	2005	NUM
dem-8594	374	10	)	)	PUNCT
dem-8594	374	11	,	,	PUNCT
dem-8594	374	12	evaluation	evaluation	NOUN
dem-8594	374	13	and	and	CCONJ
dem-8594	374	14	combination	combination	NOUN
dem-8594	374	15	of	of	ADP
dem-8594	374	16	conditional	conditional	ADJ
dem-8594	374	17	quantile	quantile	ADJ
dem-8594	374	18	forecasts	forecast	NOUN
dem-8594	374	19	,	,	PUNCT
dem-8594	374	20	journal	journal	NOUN
dem-8594	374	21	of	of	ADP
dem-8594	374	22	business	business	NOUN
dem-8594	374	23	and	and	CCONJ
dem-8594	374	24	economic	economic	ADJ
dem-8594	374	25	statistics	statistic	NOUN
dem-8594	374	26	,	,	PUNCT
dem-8594	374	27	23	23	NUM
dem-8594	374	28	,	,	PUNCT
dem-8594	374	29	416–431	416–431	NUM
dem-8594	374	30	,	,	PUNCT
dem-8594	374	31	doi	doi	NOUN
dem-8594	374	32	:	:	PUNCT
dem-8594	374	33	http://dx.doi.org/10.1198/073500105000000018	http://dx.doi.org/10.1198/073500105000000018	PROPN
dem-8594	374	34	.	.	PUNCT
dem-8594	375	1	giot	giot	NOUN
dem-8594	375	2	,	,	PUNCT
dem-8594	375	3	p.	p.	NOUN
dem-8594	375	4	(	(	PUNCT
dem-8594	375	5	2005	2005	NUM
dem-8594	375	6	)	)	PUNCT
dem-8594	375	7	,	,	PUNCT
dem-8594	375	8	implied	imply	VERB
dem-8594	375	9	volatility	volatility	NOUN
dem-8594	375	10	indexes	index	NOUN
dem-8594	375	11	and	and	CCONJ
dem-8594	375	12	daily	daily	ADJ
dem-8594	375	13	value	value	NOUN
dem-8594	375	14	at	at	ADP
dem-8594	375	15	risk	risk	NOUN
dem-8594	375	16	models	model	NOUN
dem-8594	375	17	,	,	PUNCT
dem-8594	375	18	journal	journal	NOUN
dem-8594	375	19	of	of	ADP
dem-8594	375	20	derivatives	derivative	NOUN
dem-8594	375	21	,	,	PUNCT
dem-8594	375	22	12	12	NUM
dem-8594	375	23	,	,	PUNCT
dem-8594	375	24	54–64	54–64	NUM
dem-8594	375	25	,	,	PUNCT
dem-8594	375	26	doi	doi	NOUN
dem-8594	375	27	:	:	PUNCT
dem-8594	375	28	http://dx.doi.org/10.3905/jod.2005.517186	http://dx.doi.org/10.3905/jod.2005.517186	ADJ
dem-8594	375	29	.	.	PUNCT
dem-8594	375	30	giot	giot	NOUN
dem-8594	375	31	,	,	PUNCT
dem-8594	375	32	p.	p.	NOUN
dem-8594	375	33	,	,	PUNCT
dem-8594	375	34	laurent	laurent	PROPN
dem-8594	375	35	,	,	PUNCT
dem-8594	375	36	s.	s.	PROPN
dem-8594	375	37	(	(	PUNCT
dem-8594	375	38	2007	2007	NUM
dem-8594	375	39	)	)	PUNCT
dem-8594	375	40	,	,	PUNCT
dem-8594	375	41	the	the	DET
dem-8594	375	42	information	information	NOUN
dem-8594	375	43	content	content	NOUN
dem-8594	375	44	of	of	ADP
dem-8594	375	45	implied	imply	VERB
dem-8594	375	46	volatility	volatility	NOUN
dem-8594	375	47	in	in	ADP
dem-8594	375	48	light	light	NOUN
dem-8594	375	49	of	of	ADP
dem-8594	375	50	the	the	DET
dem-8594	375	51	jump	jump	NOUN
dem-8594	375	52	/	/	SYM
dem-8594	375	53	continuous	continuous	ADJ
dem-8594	375	54	decomposition	decomposition	NOUN
dem-8594	375	55	of	of	ADP
dem-8594	375	56	realized	realize	VERB
dem-8594	375	57	volatility	volatility	NOUN
dem-8594	375	58	,	,	PUNCT
dem-8594	375	59	journal	journal	NOUN
dem-8594	375	60	of	of	ADP
dem-8594	375	61	futures	future	NOUN
dem-8594	375	62	markets	market	NOUN
dem-8594	375	63	,	,	PUNCT
dem-8594	375	64	27	27	NUM
dem-8594	375	65	,	,	PUNCT
dem-8594	375	66	337–359	337–359	NUM
dem-8594	375	67	,	,	PUNCT
dem-8594	375	68	doi	doi	NOUN
dem-8594	375	69	:	:	PUNCT
dem-8594	375	70	http://dx.doi.org/10.1002/fut.20251	http://dx.doi.org/10.1002/fut.20251	PROPN
dem-8594	375	71	.	.	PUNCT
dem-8594	376	1	grajek	grajek	PROPN
dem-8594	376	2	,	,	PUNCT
dem-8594	376	3	m.	m.	NOUN
dem-8594	376	4	(	(	PUNCT
dem-8594	376	5	2002	2002	NUM
dem-8594	376	6	)	)	PUNCT
dem-8594	376	7	,	,	PUNCT
dem-8594	376	8	prognozy	prognozy	ADJ
dem-8594	376	9	łączone	łączone	NOUN
dem-8594	376	10	(	(	PUNCT
dem-8594	376	11	combining	combine	VERB
dem-8594	376	12	forecasts	forecast	NOUN
dem-8594	376	13	)	)	PUNCT
dem-8594	376	14	,	,	PUNCT
dem-8594	376	15	przegląd	przegląd	PROPN
dem-8594	376	16	statystyczny	statystyczny	PROPN
dem-8594	376	17	,	,	PUNCT
dem-8594	376	18	2	2	NUM
dem-8594	376	19	,	,	PUNCT
dem-8594	376	20	70–81	70–81	NUM
dem-8594	376	21	.	.	PUNCT
dem-8594	377	1	granger	granger	PROPN
dem-8594	377	2	,	,	PUNCT
dem-8594	377	3	c.	c.	PROPN
dem-8594	377	4	w.	w.	PROPN
dem-8594	377	5	j.	j.	PROPN
dem-8594	377	6	(	(	PUNCT
dem-8594	377	7	1989	1989	NUM
dem-8594	377	8	)	)	PUNCT
dem-8594	377	9	,	,	PUNCT
dem-8594	377	10	invited	invite	VERB
dem-8594	377	11	review	review	NOUN
dem-8594	377	12	:	:	PUNCT
dem-8594	377	13	combining	combine	VERB
dem-8594	377	14	forecasts–20	forecasts–20	ADJ
dem-8594	377	15	years	year	NOUN
dem-8594	377	16	later	later	ADV
dem-8594	377	17	,	,	PUNCT
dem-8594	377	18	journal	journal	NOUN
dem-8594	377	19	of	of	ADP
dem-8594	377	20	forecasting	forecasting	NOUN
dem-8594	377	21	,	,	PUNCT
dem-8594	377	22	8	8	NUM
dem-8594	377	23	,	,	PUNCT
dem-8594	377	24	167–173	167–173	NUM
dem-8594	377	25	.	.	PUNCT
dem-8594	378	1	risk	risk	NOUN
dem-8594	378	2	modeling	modeling	NOUN
dem-8594	378	3	of	of	ADP
dem-8594	378	4	commodities	commodity	NOUN
dem-8594	378	5	using	use	VERB
dem-8594	378	6	caviar	caviar	NOUN
dem-8594	378	7	models	model	NOUN
dem-8594	378	8	…	…	PUNCT
dem-8594	378	9	dynamic	dynamic	ADJ
dem-8594	378	10	econometric	econometric	ADJ
dem-8594	378	11	models	model	NOUN
dem-8594	378	12	15	15	NUM
dem-8594	378	13	(	(	PUNCT
dem-8594	378	14	2015	2015	NUM
dem-8594	378	15	)	)	PUNCT
dem-8594	379	1	129–156	129–156	NUM
dem-8594	379	2	155	155	NUM
dem-8594	379	3	granger	granger	NOUN
dem-8594	379	4	,	,	PUNCT
dem-8594	379	5	c.	c.	PROPN
dem-8594	379	6	w.	w.	PROPN
dem-8594	379	7	j.	j.	PROPN
dem-8594	379	8	,	,	PUNCT
dem-8594	379	9	white	white	PROPN
dem-8594	379	10	,	,	PUNCT
dem-8594	379	11	h.	h.	PROPN
dem-8594	379	12	,	,	PUNCT
dem-8594	379	13	kamstra	kamstra	PROPN
dem-8594	379	14	,	,	PUNCT
dem-8594	379	15	m.	m.	NOUN
dem-8594	379	16	j.	j.	PROPN
dem-8594	379	17	(	(	PUNCT
dem-8594	379	18	1989	1989	NUM
dem-8594	379	19	)	)	PUNCT
dem-8594	379	20	,	,	PUNCT
dem-8594	379	21	interval	interval	NOUN
dem-8594	379	22	forecasting	forecasting	NOUN
dem-8594	379	23	:	:	PUNCT
dem-8594	379	24	an	an	DET
dem-8594	379	25	analysis	analysis	NOUN
dem-8594	379	26	based	base	VERB
dem-8594	379	27	upon	upon	SCONJ
dem-8594	379	28	arch	arch	ADJ
dem-8594	379	29	-	-	PUNCT
dem-8594	379	30	quantile	quantile	NOUN
dem-8594	379	31	estimators	estimator	NOUN
dem-8594	379	32	,	,	PUNCT
dem-8594	379	33	journal	journal	NOUN
dem-8594	379	34	of	of	ADP
dem-8594	379	35	econometrics	econometric	NOUN
dem-8594	379	36	,	,	PUNCT
dem-8594	379	37	40	40	NUM
dem-8594	379	38	,	,	PUNCT
dem-8594	379	39	87–96	87–96	NUM
dem-8594	379	40	,	,	PUNCT
dem-8594	379	41	doi	doi	NOUN
dem-8594	379	42	:	:	PUNCT
dem-8594	379	43	http://dx.doi.org/10.1016/0304-4076(89)90031-6	http://dx.doi.org/10.1016/0304-4076(89)90031-6	X
dem-8594	379	44	.	.	PUNCT
dem-8594	380	1	greszta	greszta	NOUN
dem-8594	380	2	,	,	PUNCT
dem-8594	380	3	m.	m.	NOUN
dem-8594	380	4	,	,	PUNCT
dem-8594	380	5	maciejewski	maciejewski	PROPN
dem-8594	380	6	,	,	PUNCT
dem-8594	380	7	w.	w.	PROPN
dem-8594	380	8	(	(	PUNCT
dem-8594	380	9	2005	2005	NUM
dem-8594	380	10	)	)	PUNCT
dem-8594	380	11	,	,	PUNCT
dem-8594	380	12	kombinowanie	kombinowanie	PROPN
dem-8594	380	13	prognoz	prognoz	PROPN
dem-8594	380	14	gospodarki	gospodarki	PROPN
dem-8594	380	15	polski	polski	NOUN
dem-8594	380	16	(	(	PUNCT
dem-8594	380	17	combining	combine	VERB
dem-8594	380	18	forecasts	forecast	NOUN
dem-8594	380	19	of	of	ADP
dem-8594	380	20	the	the	DET
dem-8594	380	21	polish	polish	ADJ
dem-8594	380	22	economy	economy	NOUN
dem-8594	380	23	)	)	PUNCT
dem-8594	380	24	,	,	PUNCT
dem-8594	380	25	gospodarka	gospodarka	PROPN
dem-8594	380	26	narodowa	narodowa	PROPN
dem-8594	380	27	,	,	PUNCT
dem-8594	380	28	5–6	5–6	NOUN
dem-8594	380	29	,	,	PUNCT
dem-8594	380	30	49–60	49–60	NOUN
dem-8594	380	31	.	.	PUNCT
dem-8594	381	1	iwanicz	iwanicz	NOUN
dem-8594	381	2	-	-	PUNCT
dem-8594	381	3	drozdowska	drozdowska	NOUN
dem-8594	381	4	,	,	PUNCT
dem-8594	381	5	m.	m.	NOUN
dem-8594	381	6	(	(	PUNCT
dem-8594	381	7	2005	2005	NUM
dem-8594	381	8	)	)	PUNCT
dem-8594	381	9	,	,	PUNCT
dem-8594	381	10	zarządzanie	zarządzanie	PROPN
dem-8594	381	11	finansowe	finansowe	PROPN
dem-8594	381	12	bankiem	bankiem	PROPN
dem-8594	381	13	(	(	PUNCT
dem-8594	381	14	financial	financial	ADJ
dem-8594	381	15	management	management	NOUN
dem-8594	381	16	of	of	ADP
dem-8594	381	17	bank	bank	NOUN
dem-8594	381	18	)	)	PUNCT
dem-8594	381	19	,	,	PUNCT
dem-8594	381	20	warsaw	warsaw	PROPN
dem-8594	381	21	,	,	PUNCT
dem-8594	381	22	pwe	pwe	PROPN
dem-8594	381	23	.	.	PUNCT
dem-8594	382	1	jajuga	jajuga	PROPN
dem-8594	382	2	,	,	PUNCT
dem-8594	382	3	k.	k.	PROPN
dem-8594	382	4	,	,	PUNCT
dem-8594	382	5	jajuga	jajuga	PROPN
dem-8594	382	6	,	,	PUNCT
dem-8594	382	7	t.	t.	PROPN
dem-8594	382	8	(	(	PUNCT
dem-8594	382	9	2011	2011	NUM
dem-8594	382	10	)	)	PUNCT
dem-8594	382	11	,	,	PUNCT
dem-8594	382	12	instrumenty	instrumenty	PROPN
dem-8594	382	13	finansowe	finansowe	PROPN
dem-8594	382	14	,	,	PUNCT
dem-8594	382	15	aktywa	aktywa	PROPN
dem-8594	382	16	niefinansowe	niefinansowe	NOUN
dem-8594	382	17	,	,	PUNCT
dem-8594	382	18	ryzyko	ryzyko	NOUN
dem-8594	382	19	finansowe	finansowe	PROPN
dem-8594	382	20	,	,	PUNCT
dem-8594	382	21	inżynieria	inżynieria	PROPN
dem-8594	382	22	finansowa	finansowa	NOUN
dem-8594	382	23	(	(	PUNCT
dem-8594	382	24	financial	financial	ADJ
dem-8594	382	25	instruments	instrument	NOUN
dem-8594	382	26	,	,	PUNCT
dem-8594	382	27	non	non	ADJ
dem-8594	382	28	-	-	ADJ
dem-8594	382	29	financial	financial	ADJ
dem-8594	382	30	assets	asset	NOUN
dem-8594	382	31	,	,	PUNCT
dem-8594	382	32	financial	financial	ADJ
dem-8594	382	33	risk	risk	NOUN
dem-8594	382	34	,	,	PUNCT
dem-8594	382	35	financial	financial	ADJ
dem-8594	382	36	engineering	engineering	NOUN
dem-8594	382	37	)	)	PUNCT
dem-8594	382	38	,	,	PUNCT
dem-8594	382	39	pwn	pwn	PROPN
dem-8594	382	40	,	,	PUNCT
dem-8594	382	41	warsaw	warsaw	PROPN
dem-8594	382	42	.	.	PUNCT
dem-8594	383	1	jarque	jarque	NOUN
dem-8594	383	2	,	,	PUNCT
dem-8594	383	3	c.	c.	PROPN
dem-8594	383	4	m.	m.	NOUN
dem-8594	383	5	,	,	PUNCT
dem-8594	383	6	bera	bera	NOUN
dem-8594	383	7	,	,	PUNCT
dem-8594	383	8	a.	a.	PROPN
dem-8594	383	9	k.	k.	PROPN
dem-8594	383	10	(	(	PUNCT
dem-8594	383	11	1987	1987	NUM
dem-8594	383	12	)	)	PUNCT
dem-8594	383	13	,	,	PUNCT
dem-8594	383	14	a	a	DET
dem-8594	383	15	test	test	NOUN
dem-8594	383	16	for	for	ADP
dem-8594	383	17	normality	normality	NOUN
dem-8594	383	18	of	of	ADP
dem-8594	383	19	observations	observation	NOUN
dem-8594	383	20	and	and	CCONJ
dem-8594	383	21	regression	regression	NOUN
dem-8594	383	22	residuals	residual	NOUN
dem-8594	383	23	,	,	PUNCT
dem-8594	383	24	international	international	ADJ
dem-8594	383	25	statistical	statistical	ADJ
dem-8594	383	26	review	review	NOUN
dem-8594	383	27	,	,	PUNCT
dem-8594	383	28	55	55	NUM
dem-8594	383	29	,	,	PUNCT
dem-8594	383	30	163–172	163–172	NUM
dem-8594	383	31	.	.	PUNCT
dem-8594	384	1	doi	doi	NOUN
dem-8594	384	2	:	:	PUNCT
dem-8594	384	3	http://dx.doi.org/10.2307/1403192.jeon	http://dx.doi.org/10.2307/1403192.jeon	PROPN
dem-8594	384	4	j.	j.	PROPN
dem-8594	384	5	,	,	PUNCT
dem-8594	384	6	taylor	taylor	PROPN
dem-8594	384	7	j.w	j.w	PROPN
dem-8594	384	8	(	(	PUNCT
dem-8594	384	9	2013	2013	NUM
dem-8594	384	10	)	)	PUNCT
dem-8594	384	11	,	,	PUNCT
dem-8594	384	12	using	use	VERB
dem-8594	384	13	caviar	caviar	NOUN
dem-8594	384	14	models	model	NOUN
dem-8594	384	15	with	with	ADP
dem-8594	384	16	implied	imply	VERB
dem-8594	384	17	volatility	volatility	NOUN
dem-8594	384	18	for	for	ADP
dem-8594	384	19	value	value	NOUN
dem-8594	384	20	at	at	ADP
dem-8594	384	21	risk	risk	NOUN
dem-8594	384	22	estimation	estimation	NOUN
dem-8594	384	23	,	,	PUNCT
dem-8594	384	24	journal	journal	NOUN
dem-8594	384	25	of	of	ADP
dem-8594	384	26	forecasting	forecasting	NOUN
dem-8594	384	27	,	,	PUNCT
dem-8594	384	28	32	32	NUM
dem-8594	384	29	,	,	PUNCT
dem-8594	384	30	62–74	62–74	NUM
dem-8594	384	31	,	,	PUNCT
dem-8594	384	32	doi	doi	NOUN
dem-8594	384	33	:	:	PUNCT
dem-8594	384	34	http://dx.doi.org/10.1002/for.1251	http://dx.doi.org/10.1002/for.1251	PROPN
dem-8594	384	35	.	.	PUNCT
dem-8594	385	1	koenker	koenker	PROPN
dem-8594	385	2	,	,	PUNCT
dem-8594	385	3	r.	r.	PROPN
dem-8594	385	4	,	,	PUNCT
dem-8594	385	5	bassett	bassett	PROPN
dem-8594	385	6	,	,	PUNCT
dem-8594	385	7	g.	g.	PROPN
dem-8594	385	8	s.	s.	PROPN
dem-8594	385	9	(	(	PUNCT
dem-8594	385	10	1978	1978	NUM
dem-8594	385	11	)	)	PUNCT
dem-8594	385	12	,	,	PUNCT
dem-8594	385	13	regression	regression	NOUN
dem-8594	385	14	quantiles	quantile	NOUN
dem-8594	385	15	,	,	PUNCT
dem-8594	385	16	econometrica	econometrica	PROPN
dem-8594	385	17	,	,	PUNCT
dem-8594	385	18	46	46	NUM
dem-8594	385	19	,	,	PUNCT
dem-8594	385	20	33–50	33–50	NUM
dem-8594	385	21	,	,	PUNCT
dem-8594	385	22	doi	doi	NOUN
dem-8594	385	23	:	:	PUNCT
dem-8594	385	24	http://dx.doi.org/10.2307/1913643	http://dx.doi.org/10.2307/1913643	PROPN
dem-8594	385	25	.	.	PUNCT
dem-8594	385	26	kupiec	kupiec	PROPN
dem-8594	385	27	,	,	PUNCT
dem-8594	385	28	p.	p.	NOUN
dem-8594	385	29	(	(	PUNCT
dem-8594	385	30	1995	1995	NUM
dem-8594	385	31	)	)	PUNCT
dem-8594	385	32	,	,	PUNCT
dem-8594	385	33	techniques	technique	NOUN
dem-8594	385	34	for	for	ADP
dem-8594	385	35	verifying	verify	VERB
dem-8594	385	36	the	the	DET
dem-8594	385	37	accuracy	accuracy	NOUN
dem-8594	385	38	of	of	ADP
dem-8594	385	39	risk	risk	NOUN
dem-8594	385	40	measurement	measurement	NOUN
dem-8594	385	41	models	model	NOUN
dem-8594	385	42	,	,	PUNCT
dem-8594	385	43	journal	journal	NOUN
dem-8594	385	44	of	of	ADP
dem-8594	385	45	derivatives	derivative	NOUN
dem-8594	385	46	,	,	PUNCT
dem-8594	385	47	3	3	NUM
dem-8594	385	48	,	,	PUNCT
dem-8594	385	49	73–84	73–84	NOUN
dem-8594	385	50	,	,	PUNCT
dem-8594	385	51	doi	doi	NOUN
dem-8594	385	52	:	:	PUNCT
dem-8594	385	53	http://dx.doi.org/10.3905/jod.1995.407942	http://dx.doi.org/10.3905/jod.1995.407942	NOUN
dem-8594	385	54	.	.	PUNCT
dem-8594	386	1	lomnicki	lomnicki	PROPN
dem-8594	386	2	,	,	PUNCT
dem-8594	386	3	z.	z.	PROPN
dem-8594	386	4	a.	a.	PROPN
dem-8594	386	5	(	(	PUNCT
dem-8594	386	6	1961	1961	NUM
dem-8594	386	7	)	)	PUNCT
dem-8594	386	8	,	,	PUNCT
dem-8594	386	9	tests	test	VERB
dem-8594	386	10	for	for	ADP
dem-8594	386	11	departure	departure	NOUN
dem-8594	386	12	from	from	ADP
dem-8594	386	13	normality	normality	NOUN
dem-8594	386	14	in	in	ADP
dem-8594	386	15	the	the	DET
dem-8594	386	16	case	case	NOUN
dem-8594	386	17	of	of	ADP
dem-8594	386	18	linear	linear	PROPN
dem-8594	386	19	stochastic	stochastic	NOUN
dem-8594	386	20	processes	process	NOUN
dem-8594	386	21	,	,	PUNCT
dem-8594	386	22	metrika	metrika	NOUN
dem-8594	386	23	,	,	PUNCT
dem-8594	386	24	4	4	NUM
dem-8594	386	25	,	,	PUNCT
dem-8594	386	26	37–62	37–62	NUM
dem-8594	386	27	,	,	PUNCT
dem-8594	386	28	doi	doi	NOUN
dem-8594	386	29	:	:	PUNCT
dem-8594	386	30	http://dx.doi.org/10.1007/bf02613866	http://dx.doi.org/10.1007/bf02613866	PROPN
dem-8594	386	31	.	.	PUNCT
dem-8594	386	32	lopez	lopez	PROPN
dem-8594	386	33	,	,	PUNCT
dem-8594	386	34	j.	j.	PROPN
dem-8594	386	35	a.	a.	PROPN
dem-8594	386	36	(	(	PUNCT
dem-8594	386	37	1998	1998	NUM
dem-8594	386	38	)	)	PUNCT
dem-8594	386	39	,	,	PUNCT
dem-8594	386	40	testing	test	VERB
dem-8594	386	41	your	your	PRON
dem-8594	386	42	risk	risk	NOUN
dem-8594	386	43	test	test	NOUN
dem-8594	386	44	,	,	PUNCT
dem-8594	386	45	the	the	DET
dem-8594	386	46	financial	financial	ADJ
dem-8594	386	47	survey	survey	NOUN
dem-8594	386	48	,	,	PUNCT
dem-8594	386	49	18–20	18–20	NUM
dem-8594	386	50	.	.	PUNCT
dem-8594	386	51	lopez	lopez	PROPN
dem-8594	386	52	,	,	PUNCT
dem-8594	386	53	j.	j.	PROPN
dem-8594	386	54	a.	a.	PROPN
dem-8594	386	55	(	(	PUNCT
dem-8594	386	56	1999	1999	NUM
dem-8594	386	57	)	)	PUNCT
dem-8594	386	58	,	,	PUNCT
dem-8594	386	59	methods	method	NOUN
dem-8594	386	60	for	for	ADP
dem-8594	386	61	evaluating	evaluate	VERB
dem-8594	386	62	value	value	NOUN
dem-8594	386	63	at	at	ADP
dem-8594	386	64	risk	risk	NOUN
dem-8594	386	65	estimates	estimate	NOUN
dem-8594	386	66	,	,	PUNCT
dem-8594	386	67	frbny	frbny	VERB
dem-8594	386	68	economic	economic	ADJ
dem-8594	386	69	policy	policy	NOUN
dem-8594	386	70	review	review	NOUN
dem-8594	386	71	,	,	PUNCT
dem-8594	386	72	2	2	NUM
dem-8594	386	73	,	,	PUNCT
dem-8594	386	74	3–15	3–15	PROPN
dem-8594	386	75	,	,	PUNCT
dem-8594	386	76	doi	doi	NOUN
dem-8594	386	77	:	:	PUNCT
dem-8594	386	78	http://dx.doi.org/10.2139/ssrn.1029673	http://dx.doi.org/10.2139/ssrn.1029673	PROPN
dem-8594	386	79	.	.	PUNCT
dem-8594	387	1	mazur	mazur	PROPN
dem-8594	387	2	,	,	PUNCT
dem-8594	387	3	b.	b.	PROPN
dem-8594	387	4	,	,	PUNCT
dem-8594	387	5	pipień	pipień	NOUN
dem-8594	387	6	,	,	PUNCT
dem-8594	387	7	m.	m.	NOUN
dem-8594	387	8	(	(	PUNCT
dem-8594	387	9	2012	2012	NUM
dem-8594	387	10	)	)	PUNCT
dem-8594	387	11	,	,	PUNCT
dem-8594	387	12	on	on	ADP
dem-8594	387	13	the	the	DET
dem-8594	387	14	empirical	empirical	ADJ
dem-8594	387	15	importance	importance	NOUN
dem-8594	387	16	of	of	ADP
dem-8594	387	17	periodicity	periodicity	NOUN
dem-8594	387	18	in	in	ADP
dem-8594	387	19	the	the	DET
dem-8594	387	20	volatility	volatility	NOUN
dem-8594	387	21	of	of	ADP
dem-8594	387	22	financial	financial	ADJ
dem-8594	387	23	returns	return	NOUN
dem-8594	387	24	–	–	PUNCT
dem-8594	387	25	time	time	NOUN
dem-8594	387	26	varying	vary	VERB
dem-8594	387	27	garch	garch	NOUN
dem-8594	387	28	as	as	ADP
dem-8594	387	29	a	a	DET
dem-8594	387	30	second	second	ADJ
dem-8594	387	31	order	order	NOUN
dem-8594	387	32	apc(2	apc(2	NOUN
dem-8594	387	33	)	)	PUNCT
dem-8594	387	34	process	process	NOUN
dem-8594	387	35	,	,	PUNCT
dem-8594	387	36	central	central	ADJ
dem-8594	387	37	european	european	ADJ
dem-8594	387	38	journal	journal	NOUN
dem-8594	387	39	of	of	ADP
dem-8594	387	40	economic	economic	ADJ
dem-8594	387	41	modelling	modelling	NOUN
dem-8594	387	42	and	and	CCONJ
dem-8594	387	43	econometrics	econometric	NOUN
dem-8594	387	44	,	,	PUNCT
dem-8594	387	45	4	4	NUM
dem-8594	387	46	,	,	PUNCT
dem-8594	387	47	95–116	95–116	PROPN
dem-8594	387	48	.	.	PUNCT
dem-8594	387	49	mittnik	mittnik	PROPN
dem-8594	387	50	,	,	PUNCT
dem-8594	387	51	s.	s.	PROPN
dem-8594	387	52	,	,	PUNCT
dem-8594	387	53	paolella	paolella	NOUN
dem-8594	387	54	,	,	PUNCT
dem-8594	387	55	m.	m.	NOUN
dem-8594	387	56	s.	s.	PROPN
dem-8594	387	57	(	(	PUNCT
dem-8594	387	58	2000	2000	NUM
dem-8594	387	59	)	)	PUNCT
dem-8594	387	60	,	,	PUNCT
dem-8594	387	61	conditional	conditional	ADJ
dem-8594	387	62	density	density	NOUN
dem-8594	387	63	and	and	CCONJ
dem-8594	387	64	value	value	NOUN
dem-8594	387	65	-	-	PUNCT
dem-8594	387	66	at	at	ADP
dem-8594	387	67	-	-	PUNCT
dem-8594	387	68	risk	risk	NOUN
dem-8594	387	69	prediction	prediction	NOUN
dem-8594	387	70	of	of	ADP
dem-8594	387	71	asian	asian	ADJ
dem-8594	387	72	currency	currency	NOUN
dem-8594	387	73	exchange	exchange	NOUN
dem-8594	387	74	rates	rate	NOUN
dem-8594	387	75	,	,	PUNCT
dem-8594	387	76	journal	journal	NOUN
dem-8594	387	77	of	of	ADP
dem-8594	387	78	forecasting	forecasting	NOUN
dem-8594	387	79	,	,	PUNCT
dem-8594	387	80	19	19	NUM
dem-8594	387	81	,	,	PUNCT
dem-8594	387	82	313–333	313–333	NUM
dem-8594	387	83	,	,	PUNCT
dem-8594	387	84	doi	doi	NOUN
dem-8594	387	85	:	:	PUNCT
dem-8594	387	86	http://dx.doi.org/10.1002/1099-131x(200007)19:4%3c313::aidfor776%3e3.0.co;2-e	http://dx.doi.org/10.1002/1099-131x(200007)19:4%3c313::aidfor776%3e3.0.co;2-e	PROPN
dem-8594	387	87	.	.	PUNCT
dem-8594	388	1	nelson	nelson	PROPN
dem-8594	388	2	,	,	PUNCT
dem-8594	388	3	c.	c.	PROPN
dem-8594	388	4	r.	r.	PROPN
dem-8594	388	5	(	(	PUNCT
dem-8594	388	6	1972	1972	NUM
dem-8594	388	7	)	)	PUNCT
dem-8594	388	8	,	,	PUNCT
dem-8594	388	9	the	the	DET
dem-8594	388	10	prediction	prediction	NOUN
dem-8594	388	11	performance	performance	NOUN
dem-8594	388	12	of	of	ADP
dem-8594	388	13	the	the	DET
dem-8594	388	14	f.r.b.-m.i.t.-penn	f.r.b.-m.i.t.-penn	PROPN
dem-8594	388	15	model	model	NOUN
dem-8594	388	16	of	of	ADP
dem-8594	388	17	the	the	DET
dem-8594	388	18	u.s	u.s	PROPN
dem-8594	388	19	.	.	PROPN
dem-8594	388	20	economy	economy	PROPN
dem-8594	388	21	,	,	PUNCT
dem-8594	388	22	american	american	PROPN
dem-8594	388	23	economic	economic	PROPN
dem-8594	388	24	review	review	PROPN
dem-8594	388	25	,	,	PUNCT
dem-8594	388	26	62	62	NUM
dem-8594	388	27	,	,	PUNCT
dem-8594	388	28	902–917	902–917	NUM
dem-8594	388	29	.	.	PUNCT
dem-8594	389	1	nelson	nelson	PROPN
dem-8594	389	2	,	,	PUNCT
dem-8594	389	3	c.	c.	PROPN
dem-8594	389	4	r.	r.	PROPN
dem-8594	389	5	(	(	PUNCT
dem-8594	389	6	1984	1984	NUM
dem-8594	389	7	)	)	PUNCT
dem-8594	389	8	,	,	PUNCT
dem-8594	389	9	a	a	DET
dem-8594	389	10	benchmark	benchmark	NOUN
dem-8594	389	11	for	for	ADP
dem-8594	389	12	the	the	DET
dem-8594	389	13	accuracy	accuracy	NOUN
dem-8594	389	14	of	of	ADP
dem-8594	389	15	econometric	econometric	ADJ
dem-8594	389	16	forecasts	forecast	NOUN
dem-8594	389	17	of	of	ADP
dem-8594	389	18	gnp	gnp	PROPN
dem-8594	389	19	,	,	PUNCT
dem-8594	389	20	business	business	NOUN
dem-8594	389	21	economics	economic	NOUN
dem-8594	389	22	,	,	PUNCT
dem-8594	389	23	19	19	NUM
dem-8594	389	24	,	,	PUNCT
dem-8594	389	25	52–58	52–58	NUM
dem-8594	389	26	.	.	PUNCT
dem-8594	390	1	noh	noh	PROPN
dem-8594	390	2	,	,	PUNCT
dem-8594	390	3	j.	j.	PROPN
dem-8594	390	4	,	,	PUNCT
dem-8594	390	5	kim	kim	PROPN
dem-8594	390	6	,	,	PUNCT
dem-8594	390	7	t.	t.	PROPN
dem-8594	390	8	h.	h.	PROPN
dem-8594	390	9	(	(	PUNCT
dem-8594	390	10	2006	2006	NUM
dem-8594	390	11	)	)	PUNCT
dem-8594	390	12	,	,	PUNCT
dem-8594	390	13	forecasting	forecast	VERB
dem-8594	390	14	volatility	volatility	NOUN
dem-8594	390	15	of	of	ADP
dem-8594	390	16	futures	future	NOUN
dem-8594	390	17	market	market	NOUN
dem-8594	390	18	:	:	PUNCT
dem-8594	390	19	the	the	DET
dem-8594	390	20	s&p	s&p	PROPN
dem-8594	390	21	500	500	NUM
dem-8594	390	22	and	and	CCONJ
dem-8594	390	23	ftse	ftse	VERB
dem-8594	390	24	100	100	NUM
dem-8594	390	25	futures	future	NOUN
dem-8594	390	26	using	use	VERB
dem-8594	390	27	high	high	ADJ
dem-8594	390	28	frequency	frequency	NOUN
dem-8594	390	29	returns	return	NOUN
dem-8594	390	30	and	and	CCONJ
dem-8594	390	31	implied	imply	VERB
dem-8594	390	32	volatility	volatility	NOUN
dem-8594	390	33	,	,	PUNCT
dem-8594	390	34	applied	apply	VERB
dem-8594	390	35	economics	economic	NOUN
dem-8594	390	36	,	,	PUNCT
dem-8594	390	37	38	38	NUM
dem-8594	390	38	,	,	PUNCT
dem-8594	390	39	395–413	395–413	NUM
dem-8594	390	40	,	,	PUNCT
dem-8594	390	41	doi	doi	NOUN
dem-8594	390	42	:	:	PUNCT
dem-8594	390	43	http://dx.doi.org/10.1080/00036840500391229	http://dx.doi.org/10.1080/00036840500391229	PROPN
dem-8594	390	44	.	.	PUNCT
dem-8594	391	1	perignon	perignon	PROPN
dem-8594	391	2	,	,	PUNCT
dem-8594	391	3	c.	c.	PROPN
dem-8594	391	4	,	,	PUNCT
dem-8594	391	5	smith	smith	PROPN
dem-8594	391	6	,	,	PUNCT
dem-8594	391	7	d.	d.	PROPN
dem-8594	391	8	r.	r.	PROPN
dem-8594	391	9	(	(	PUNCT
dem-8594	391	10	2010	2010	NUM
dem-8594	391	11	)	)	PUNCT
dem-8594	391	12	,	,	PUNCT
dem-8594	391	13	the	the	DET
dem-8594	391	14	level	level	NOUN
dem-8594	391	15	and	and	CCONJ
dem-8594	391	16	quality	quality	NOUN
dem-8594	391	17	of	of	ADP
dem-8594	391	18	value	value	NOUN
dem-8594	391	19	-	-	PUNCT
dem-8594	391	20	at	at	ADP
dem-8594	391	21	-	-	PUNCT
dem-8594	391	22	risk	risk	NOUN
dem-8594	391	23	disclosure	disclosure	NOUN
dem-8594	391	24	by	by	ADP
dem-8594	391	25	commercial	commercial	ADJ
dem-8594	391	26	banks	bank	NOUN
dem-8594	391	27	,	,	PUNCT
dem-8594	391	28	journal	journal	NOUN
dem-8594	391	29	of	of	ADP
dem-8594	391	30	banking	banking	NOUN
dem-8594	391	31	and	and	CCONJ
dem-8594	391	32	finance	finance	NOUN
dem-8594	391	33	,	,	PUNCT
dem-8594	391	34	34	34	NUM
dem-8594	391	35	,	,	PUNCT
dem-8594	391	36	362–377	362–377	NUM
dem-8594	391	37	,	,	PUNCT
dem-8594	391	38	doi	doi	NOUN
dem-8594	391	39	:	:	PUNCT
dem-8594	391	40	http://dx.doi.org/10.2139/ssrn.952595	http://dx.doi.org/10.2139/ssrn.952595	NOUN
dem-8594	391	41	.	.	PUNCT
dem-8594	391	42	piłatowska	piłatowska	PROPN
dem-8594	391	43	,	,	PUNCT
dem-8594	391	44	m.	m.	NOUN
dem-8594	391	45	(	(	PUNCT
dem-8594	391	46	2009	2009	NUM
dem-8594	391	47	)	)	PUNCT
dem-8594	391	48	,	,	PUNCT
dem-8594	391	49	prognozy	prognozy	PROPN
dem-8594	391	50	kombinowane	kombinowane	PROPN
dem-8594	391	51	z	z	PROPN
dem-8594	391	52	wykorzystaniem	wykorzystaniem	PROPN
dem-8594	391	53	wag	wag	PROPN
dem-8594	391	54	akaike’a	akaike’a	PROPN
dem-8594	391	55	,	,	PUNCT
dem-8594	391	56	w	w	PROPN
dem-8594	391	57	:	:	PUNCT
dem-8594	391	58	ekonomia	ekonomia	PROPN
dem-8594	391	59	xxxix	xxxix	PROPN
dem-8594	391	60	.	.	PROPN
dem-8594	392	1	dynamiczne	dynamiczne	PROPN
dem-8594	392	2	modele	modele	PROPN
dem-8594	392	3	ekonometryczne	ekonometryczne	PROPN
dem-8594	392	4	,	,	PUNCT
dem-8594	392	5	wydawnictwo	wydawnictwo	ADJ
dem-8594	392	6	naukowe	naukowe	PROPN
dem-8594	392	7	uniwersytetu	uniwersytetu	NOUN
dem-8594	392	8	mikołaja	mikołaja	PROPN
dem-8594	392	9	kopernika	kopernika	NOUN
dem-8594	392	10	,	,	PUNCT
dem-8594	392	11	toruń	toruń	NOUN
dem-8594	392	12	,	,	PUNCT
dem-8594	392	13	51–62	51–62	NUM
dem-8594	392	14	.	.	PUNCT
dem-8594	393	1	piontek	piontek	PROPN
dem-8594	393	2	,	,	PUNCT
dem-8594	393	3	k.	k.	PROPN
dem-8594	393	4	(	(	PUNCT
dem-8594	393	5	2000	2000	NUM
dem-8594	393	6	)	)	PUNCT
dem-8594	393	7	,	,	PUNCT
dem-8594	393	8	modelowanie	modelowanie	NOUN
dem-8594	393	9	finansowych	finansowych	PROPN
dem-8594	393	10	szeregów	szeregów	PROPN
dem-8594	393	11	czasowych	czasowych	VERB
dem-8594	393	12	warunkową	warunkową	PROPN
dem-8594	393	13	wariancją	wariancją	PROPN
dem-8594	393	14	,	,	PUNCT
dem-8594	393	15	w	w	PROPN
dem-8594	393	16	:	:	PUNCT
dem-8594	393	17	prace	prace	PROPN
dem-8594	393	18	naukowe	naukowe	PROPN
dem-8594	393	19	akademii	akademii	PROPN
dem-8594	393	20	ekonomicznej	ekonomicznej	NOUN
dem-8594	393	21	we	we	PRON
dem-8594	393	22	wrocławiu	wrocławiu	VERB
dem-8594	393	23	,	,	PUNCT
dem-8594	393	24	890	890	NUM
dem-8594	393	25	,	,	PUNCT
dem-8594	393	26	218–226	218–226	NUM
dem-8594	393	27	.	.	PUNCT
dem-8594	393	28	pipień	pipień	PROPN
dem-8594	393	29	,	,	PUNCT
dem-8594	393	30	m.	m.	NOUN
dem-8594	393	31	(	(	PUNCT
dem-8594	393	32	2006	2006	NUM
dem-8594	393	33	)	)	PUNCT
dem-8594	393	34	,	,	PUNCT
dem-8594	393	35	wnioskowanie	wnioskowanie	PROPN
dem-8594	393	36	bayesowskie	bayesowskie	PROPN
dem-8594	393	37	w	w	PROPN
dem-8594	393	38	ekonometrii	ekonometrii	PROPN
dem-8594	393	39	finansowej	finansowej	PROPN
dem-8594	393	40	,	,	PUNCT
dem-8594	393	41	w	w	PROPN
dem-8594	393	42	:	:	PUNCT
dem-8594	393	43	zeszyty	zeszyty	VERB
dem-8594	393	44	naukowe	naukowe	NOUN
dem-8594	393	45	akademia	akademia	ADV
dem-8594	393	46	ekonomiczna	ekonomiczna	PROPN
dem-8594	393	47	,	,	PUNCT
dem-8594	393	48	176	176	NUM
dem-8594	393	49	,	,	PUNCT
dem-8594	393	50	kraków	kraków	PROPN
dem-8594	393	51	.	.	PUNCT
dem-8594	394	1	ewa	ewa	PROPN
dem-8594	394	2	ratuszny	ratuszny	VERB
dem-8594	394	3	dynamic	dynamic	ADJ
dem-8594	394	4	econometric	econometric	ADJ
dem-8594	394	5	models	model	NOUN
dem-8594	394	6	15	15	NUM
dem-8594	394	7	(	(	PUNCT
dem-8594	394	8	2015	2015	NUM
dem-8594	394	9	)	)	PUNCT
dem-8594	394	10	129–156	129–156	NUM
dem-8594	394	11	156	156	NUM
dem-8594	394	12	pong	pong	NOUN
dem-8594	394	13	,	,	PUNCT
dem-8594	394	14	s.	s.	PROPN
dem-8594	394	15	,	,	PUNCT
dem-8594	394	16	shackleton	shackleton	PROPN
dem-8594	394	17	,	,	PUNCT
dem-8594	394	18	m.	m.	PROPN
dem-8594	394	19	b.	b.	PROPN
dem-8594	394	20	,	,	PUNCT
dem-8594	394	21	taylor	taylor	PROPN
dem-8594	394	22	,	,	PUNCT
dem-8594	394	23	s.	s.	PROPN
dem-8594	394	24	j.	j.	PROPN
dem-8594	394	25	,	,	PUNCT
dem-8594	394	26	xu	xu	PROPN
dem-8594	394	27	,	,	PUNCT
dem-8594	394	28	x.	x.	NOUN
dem-8594	394	29	(	(	PUNCT
dem-8594	394	30	2004	2004	NUM
dem-8594	394	31	)	)	PUNCT
dem-8594	394	32	,	,	PUNCT
dem-8594	394	33	forecasting	forecast	VERB
dem-8594	394	34	currency	currency	NOUN
dem-8594	394	35	volatility	volatility	NOUN
dem-8594	394	36	:	:	PUNCT
dem-8594	394	37	a	a	DET
dem-8594	394	38	comparison	comparison	NOUN
dem-8594	394	39	of	of	ADP
dem-8594	394	40	implied	imply	VERB
dem-8594	394	41	volatilities	volatility	NOUN
dem-8594	394	42	and	and	CCONJ
dem-8594	394	43	ar	ar	PROPN
dem-8594	394	44	(	(	PUNCT
dem-8594	394	45	fi	fi	NOUN
dem-8594	394	46	)	)	PUNCT
dem-8594	394	47	ma	ma	PROPN
dem-8594	394	48	models	model	NOUN
dem-8594	394	49	,	,	PUNCT
dem-8594	394	50	journal	journal	NOUN
dem-8594	394	51	of	of	ADP
dem-8594	394	52	banking	banking	NOUN
dem-8594	394	53	and	and	CCONJ
dem-8594	394	54	finance	finance	NOUN
dem-8594	394	55	,	,	PUNCT
dem-8594	394	56	28	28	NUM
dem-8594	394	57	,	,	PUNCT
dem-8594	394	58	2541–2563	2541–2563	NUM
dem-8594	394	59	,	,	PUNCT
dem-8594	394	60	doi	doi	NOUN
dem-8594	394	61	:	:	PUNCT
dem-8594	394	62	http://dx.doi.org/10.2139/ssrn.301981	http://dx.doi.org/10.2139/ssrn.301981	NOUN
dem-8594	394	63	.	.	PUNCT
dem-8594	394	64	price	price	NOUN
dem-8594	394	65	,	,	PUNCT
dem-8594	394	66	k.	k.	PROPN
dem-8594	394	67	,	,	PUNCT
dem-8594	394	68	storn	storn	PROPN
dem-8594	394	69	,	,	PUNCT
dem-8594	394	70	r.	r.	PROPN
dem-8594	394	71	(	(	PUNCT
dem-8594	394	72	1997	1997	NUM
dem-8594	394	73	)	)	PUNCT
dem-8594	394	74	,	,	PUNCT
dem-8594	394	75	differential	differential	ADJ
dem-8594	394	76	evolution	evolution	NOUN
dem-8594	394	77	,	,	PUNCT
dem-8594	394	78	dr	dr	PROPN
dem-8594	394	79	.	.	PROPN
dem-8594	394	80	dobb	dobb	PROPN
dem-8594	394	81	’s	’s	PART
dem-8594	394	82	journal	journal	NOUN
dem-8594	394	83	,	,	PUNCT
dem-8594	394	84	18–24	18–24	NUM
dem-8594	394	85	,	,	PUNCT
dem-8594	394	86	doi	doi	NOUN
dem-8594	394	87	:	:	PUNCT
dem-8594	394	88	http://dx.doi.org/10.1007/978-3-642-30504-7_8	http://dx.doi.org/10.1007/978-3-642-30504-7_8	NOUN
dem-8594	394	89	.	.	PROPN
dem-8594	394	90	rachev	rachev	PROPN
dem-8594	394	91	,	,	PUNCT
dem-8594	394	92	s.	s.	PROPN
dem-8594	394	93	,	,	PUNCT
dem-8594	394	94	mittnik	mittnik	PROPN
dem-8594	394	95	,	,	PUNCT
dem-8594	394	96	s.	s.	PROPN
dem-8594	394	97	(	(	PUNCT
dem-8594	394	98	2002	2002	NUM
dem-8594	394	99	)	)	PUNCT
dem-8594	394	100	,	,	PUNCT
dem-8594	394	101	stable	stable	ADJ
dem-8594	394	102	paretian	paretian	NOUN
dem-8594	394	103	models	model	NOUN
dem-8594	394	104	in	in	ADP
dem-8594	394	105	finance	finance	NOUN
dem-8594	394	106	,	,	PUNCT
dem-8594	394	107	john	john	PROPN
dem-8594	394	108	wiley	wiley	PROPN
dem-8594	394	109	,	,	PUNCT
dem-8594	394	110	new	new	PROPN
dem-8594	394	111	york	york	PROPN
dem-8594	394	112	.	.	PUNCT
dem-8594	395	1	ratuszny	ratuszny	PROPN
dem-8594	395	2	,	,	PUNCT
dem-8594	395	3	e.	e.	PROPN
dem-8594	395	4	(	(	PUNCT
dem-8594	395	5	2013	2013	NUM
dem-8594	395	6	)	)	PUNCT
dem-8594	395	7	,	,	PUNCT
dem-8594	395	8	robust	robust	ADJ
dem-8594	395	9	estimation	estimation	NOUN
dem-8594	395	10	in	in	ADP
dem-8594	395	11	var	var	NOUN
dem-8594	395	12	modelling	modelling	NOUN
dem-8594	395	13	–	–	PUNCT
dem-8594	395	14	univariate	univariate	ADJ
dem-8594	395	15	approaches	approach	NOUN
dem-8594	395	16	using	use	VERB
dem-8594	395	17	bounded	bounded	ADJ
dem-8594	395	18	innovation	innovation	NOUN
dem-8594	395	19	propagation	propagation	NOUN
dem-8594	395	20	and	and	CCONJ
dem-8594	395	21	regression	regression	NOUN
dem-8594	395	22	quantiles	quantile	NOUN
dem-8594	395	23	methodology	methodology	NOUN
dem-8594	395	24	,	,	PUNCT
dem-8594	395	25	central	central	ADJ
dem-8594	395	26	european	european	ADJ
dem-8594	395	27	journal	journal	NOUN
dem-8594	395	28	of	of	ADP
dem-8594	395	29	economic	economic	ADJ
dem-8594	395	30	modelling	modelling	NOUN
dem-8594	395	31	and	and	CCONJ
dem-8594	395	32	econometrics	econometric	NOUN
dem-8594	395	33	,	,	PUNCT
dem-8594	395	34	5	5	NUM
dem-8594	395	35	,	,	PUNCT
dem-8594	395	36	35–63	35–63	NUM
dem-8594	395	37	.	.	PUNCT
dem-8594	396	1	ratuszny	ratuszny	PROPN
dem-8594	396	2	,	,	PUNCT
dem-8594	396	3	e.	e.	PROPN
dem-8594	396	4	(	(	PUNCT
dem-8594	396	5	2015	2015	NUM
dem-8594	396	6	)	)	PUNCT
dem-8594	396	7	,	,	PUNCT
dem-8594	396	8	influence	influence	NOUN
dem-8594	396	9	of	of	ADP
dem-8594	396	10	robust	robust	ADJ
dem-8594	396	11	estimation	estimation	NOUN
dem-8594	396	12	on	on	ADP
dem-8594	396	13	value	value	NOUN
dem-8594	396	14	at	at	ADP
dem-8594	396	15	risk	risk	NOUN
dem-8594	396	16	.	.	PUNCT
dem-8594	397	1	bounded	bound	VERB
dem-8594	397	2	innovation	innovation	NOUN
dem-8594	397	3	propagation	propagation	NOUN
dem-8594	397	4	and	and	CCONJ
dem-8594	397	5	regression	regression	NOUN
dem-8594	397	6	quantiles	quantile	NOUN
dem-8594	397	7	method	method	VERB
dem-8594	397	8	,	,	PUNCT
dem-8594	397	9	journal	journal	NOUN
dem-8594	397	10	of	of	ADP
dem-8594	397	11	management	management	NOUN
dem-8594	397	12	and	and	CCONJ
dem-8594	397	13	financial	financial	ADJ
dem-8594	397	14	sciences	science	NOUN
dem-8594	397	15	,	,	PUNCT
dem-8594	397	16	forthcoming	forthcoming	ADJ
dem-8594	397	17	.	.	PUNCT
dem-8594	398	1	sarma	sarma	NOUN
dem-8594	398	2	,	,	PUNCT
dem-8594	398	3	m.	m.	NOUN
dem-8594	398	4	,	,	PUNCT
dem-8594	398	5	thomas	thomas	PROPN
dem-8594	398	6	,	,	PUNCT
dem-8594	398	7	s.	s.	PROPN
dem-8594	398	8	,	,	PUNCT
dem-8594	398	9	shah	shah	NOUN
dem-8594	398	10	,	,	PUNCT
dem-8594	398	11	a.	a.	NOUN
dem-8594	398	12	(	(	PUNCT
dem-8594	398	13	2003	2003	NUM
dem-8594	398	14	)	)	PUNCT
dem-8594	398	15	,	,	PUNCT
dem-8594	398	16	selecting	selecting	NOUN
dem-8594	398	17	of	of	ADP
dem-8594	398	18	var	var	NOUN
dem-8594	398	19	models	model	NOUN
dem-8594	398	20	,	,	PUNCT
dem-8594	398	21	journal	journal	NOUN
dem-8594	398	22	of	of	ADP
dem-8594	398	23	forecasting	forecasting	NOUN
dem-8594	398	24	,	,	PUNCT
dem-8594	398	25	22	22	NUM
dem-8594	398	26	,	,	PUNCT
dem-8594	398	27	337–358	337–358	NUM
dem-8594	398	28	.	.	PUNCT
dem-8594	399	1	szakmary	szakmary	ADJ
dem-8594	399	2	,	,	PUNCT
dem-8594	399	3	a.	a.	NOUN
dem-8594	399	4	,	,	PUNCT
dem-8594	399	5	ors	ors	PROPN
dem-8594	399	6	,	,	PUNCT
dem-8594	399	7	e.	e.	PROPN
dem-8594	399	8	,	,	PUNCT
dem-8594	399	9	kim	kim	PROPN
dem-8594	399	10	,	,	PUNCT
dem-8594	399	11	j.	j.	PROPN
dem-8594	399	12	k.	k.	PROPN
dem-8594	399	13	,	,	PUNCT
dem-8594	399	14	davidson	davidson	PROPN
dem-8594	399	15	iii	iii	PROPN
dem-8594	399	16	,	,	PUNCT
dem-8594	399	17	w.	w.	PROPN
dem-8594	399	18	n.	n.	PROPN
dem-8594	399	19	(	(	PUNCT
dem-8594	399	20	2003	2003	NUM
dem-8594	399	21	)	)	PUNCT
dem-8594	399	22	,	,	PUNCT
dem-8594	399	23	the	the	DET
dem-8594	399	24	predictive	predictive	ADJ
dem-8594	399	25	power	power	NOUN
dem-8594	399	26	of	of	ADP
dem-8594	399	27	implied	imply	VERB
dem-8594	399	28	volatility	volatility	NOUN
dem-8594	399	29	:	:	PUNCT
dem-8594	399	30	evidence	evidence	NOUN
dem-8594	399	31	from	from	ADP
dem-8594	399	32	35	35	NUM
dem-8594	399	33	futures	future	NOUN
dem-8594	399	34	markets	market	NOUN
dem-8594	399	35	,	,	PUNCT
dem-8594	399	36	journal	journal	NOUN
dem-8594	399	37	of	of	ADP
dem-8594	399	38	banking	banking	NOUN
dem-8594	399	39	and	and	CCONJ
dem-8594	399	40	finance	finance	NOUN
dem-8594	399	41	,	,	PUNCT
dem-8594	399	42	27	27	NUM
dem-8594	399	43	,	,	PUNCT
dem-8594	399	44	2151–2175	2151–2175	NUM
dem-8594	399	45	,	,	PUNCT
dem-8594	399	46	doi	doi	NOUN
dem-8594	399	47	:	:	PUNCT
dem-8594	399	48	http://dx.doi.org/10.1016/s0378-4266(02)00323-0	http://dx.doi.org/10.1016/s0378-4266(02)00323-0	PROPN
dem-8594	399	49	.	.	PUNCT
dem-8594	400	1	taylor	taylor	PROPN
dem-8594	400	2	,	,	PUNCT
dem-8594	400	3	j.	j.	PROPN
dem-8594	400	4	w.	w.	PROPN
dem-8594	400	5	(	(	PUNCT
dem-8594	400	6	2008	2008	NUM
dem-8594	400	7	)	)	PUNCT
dem-8594	400	8	,	,	PUNCT
dem-8594	400	9	using	use	VERB
dem-8594	400	10	exponentially	exponentially	ADV
dem-8594	400	11	weighted	weight	VERB
dem-8594	400	12	quantile	quantile	ADJ
dem-8594	400	13	regression	regression	NOUN
dem-8594	400	14	to	to	PART
dem-8594	400	15	estimate	estimate	VERB
dem-8594	400	16	value	value	NOUN
dem-8594	400	17	at	at	ADP
dem-8594	400	18	risk	risk	NOUN
dem-8594	400	19	and	and	CCONJ
dem-8594	400	20	expected	expect	VERB
dem-8594	400	21	shortfall	shortfall	NOUN
dem-8594	400	22	,	,	PUNCT
dem-8594	400	23	journal	journal	NOUN
dem-8594	400	24	of	of	ADP
dem-8594	400	25	financial	financial	ADJ
dem-8594	400	26	econometrics	econometric	NOUN
dem-8594	400	27	,	,	PUNCT
dem-8594	400	28	6	6	NUM
dem-8594	400	29	,	,	PUNCT
dem-8594	400	30	382–406	382–406	NUM
dem-8594	400	31	,	,	PUNCT
dem-8594	400	32	doi	doi	NOUN
dem-8594	400	33	:	:	PUNCT
dem-8594	400	34	http://dx.doi.org/10.1093/jjfinec/nbn007	http://dx.doi.org/10.1093/jjfinec/nbn007	PROPN
dem-8594	400	35	.	.	PUNCT
dem-8594	401	1	taylor	taylor	PROPN
dem-8594	401	2	,	,	PUNCT
dem-8594	401	3	j.	j.	PROPN
dem-8594	401	4	(	(	PUNCT
dem-8594	401	5	1999	1999	NUM
dem-8594	401	6	)	)	PUNCT
dem-8594	401	7	,	,	PUNCT
dem-8594	401	8	a	a	DET
dem-8594	401	9	quantile	quantile	ADJ
dem-8594	401	10	regression	regression	NOUN
dem-8594	401	11	approach	approach	NOUN
dem-8594	401	12	to	to	ADP
dem-8594	401	13	estimating	estimate	VERB
dem-8594	401	14	the	the	DET
dem-8594	401	15	distribution	distribution	NOUN
dem-8594	401	16	of	of	ADP
dem-8594	401	17	multiperiod	multiperiod	NOUN
dem-8594	401	18	returns	return	NOUN
dem-8594	401	19	,	,	PUNCT
dem-8594	401	20	journal	journal	NOUN
dem-8594	401	21	of	of	ADP
dem-8594	401	22	derivatives	derivative	NOUN
dem-8594	401	23	,	,	PUNCT
dem-8594	401	24	64–78	64–78	NUM
dem-8594	401	25	,	,	PUNCT
dem-8594	401	26	doi	doi	NOUN
dem-8594	401	27	:	:	PUNCT
dem-8594	401	28	http://dx.doi.org/10.3905/jod.1999.319106	http://dx.doi.org/10.3905/jod.1999.319106	PROPN
dem-8594	401	29	.	.	PUNCT
dem-8594	402	1	taylor	taylor	PROPN
dem-8594	402	2	,	,	PUNCT
dem-8594	402	3	j.	j.	PROPN
dem-8594	402	4	w.	w.	PROPN
dem-8594	402	5	,	,	PUNCT
dem-8594	402	6	bunn	bunn	PROPN
dem-8594	402	7	,	,	PUNCT
dem-8594	402	8	d.	d.	PROPN
dem-8594	402	9	w.	w.	PROPN
dem-8594	402	10	(	(	PUNCT
dem-8594	402	11	1998	1998	NUM
dem-8594	402	12	)	)	PUNCT
dem-8594	402	13	,	,	PUNCT
dem-8594	402	14	combining	combine	VERB
dem-8594	402	15	forecast	forecast	NOUN
dem-8594	402	16	quantiles	quantile	NOUN
dem-8594	402	17	using	use	VERB
dem-8594	402	18	quantile	quantile	ADJ
dem-8594	402	19	regression	regression	NOUN
dem-8594	402	20	:	:	PUNCT
dem-8594	402	21	investigating	investigate	VERB
dem-8594	402	22	the	the	DET
dem-8594	402	23	derived	derived	ADJ
dem-8594	402	24	weights	weight	NOUN
dem-8594	402	25	,	,	PUNCT
dem-8594	402	26	estimator	estimator	NOUN
dem-8594	402	27	bias	bias	NOUN
dem-8594	402	28	and	and	CCONJ
dem-8594	402	29	imposing	impose	VERB
dem-8594	402	30	constraints	constraint	NOUN
dem-8594	402	31	,	,	PUNCT
dem-8594	402	32	journal	journal	NOUN
dem-8594	402	33	of	of	ADP
dem-8594	402	34	applied	apply	VERB
dem-8594	402	35	statistics	statistic	NOUN
dem-8594	402	36	,	,	PUNCT
dem-8594	402	37	25	25	NUM
dem-8594	402	38	,	,	PUNCT
dem-8594	402	39	193–206	193–206	NUM
dem-8594	402	40	,	,	PUNCT
dem-8594	402	41	doi	doi	NOUN
dem-8594	402	42	:	:	PUNCT
dem-8594	402	43	http://dx.doi.org/10.1080/02664769823188	http://dx.doi.org/10.1080/02664769823188	NOUN
dem-8594	402	44	.	.	PUNCT
dem-8594	403	1	umantsev	umantsev	PROPN
dem-8594	403	2	,	,	PUNCT
dem-8594	403	3	l.	l.	PROPN
dem-8594	403	4	,	,	PUNCT
dem-8594	403	5	chernozhukov	chernozhukov	NOUN
dem-8594	403	6	,	,	PUNCT
dem-8594	403	7	v.	v.	PROPN
dem-8594	403	8	(	(	PUNCT
dem-8594	403	9	2001	2001	NUM
dem-8594	403	10	)	)	PUNCT
dem-8594	403	11	,	,	PUNCT
dem-8594	403	12	conditional	conditional	ADJ
dem-8594	403	13	value	value	NOUN
dem-8594	403	14	at	at	ADP
dem-8594	403	15	risk	risk	NOUN
dem-8594	403	16	:	:	PUNCT
dem-8594	403	17	aspects	aspect	NOUN
dem-8594	403	18	of	of	ADP
dem-8594	403	19	modeling	modeling	NOUN
dem-8594	403	20	and	and	CCONJ
dem-8594	403	21	estimation	estimation	NOUN
dem-8594	403	22	,	,	PUNCT
dem-8594	403	23	empirical	empirical	ADJ
dem-8594	403	24	economics	economic	NOUN
dem-8594	403	25	,	,	PUNCT
dem-8594	403	26	26	26	NUM
dem-8594	403	27	,	,	PUNCT
dem-8594	403	28	271–292	271–292	NUM
dem-8594	403	29	.	.	PUNCT
dem-8594	404	1	zarnowitz	zarnowitz	PROPN
dem-8594	404	2	,	,	PUNCT
dem-8594	404	3	v.	v.	PROPN
dem-8594	404	4	(	(	PUNCT
dem-8594	404	5	1967	1967	NUM
dem-8594	404	6	)	)	PUNCT
dem-8594	404	7	,	,	PUNCT
dem-8594	404	8	an	an	DET
dem-8594	404	9	appraisal	appraisal	NOUN
dem-8594	404	10	of	of	ADP
dem-8594	404	11	short	short	ADJ
dem-8594	404	12	-	-	PUNCT
dem-8594	404	13	term	term	NOUN
dem-8594	404	14	economic	economic	ADJ
dem-8594	404	15	forecasts	forecast	NOUN
dem-8594	404	16	,	,	PUNCT
dem-8594	404	17	national	national	ADJ
dem-8594	404	18	bureau	bureau	PROPN
dem-8594	404	19	of	of	ADP
dem-8594	404	20	economic	economic	ADJ
dem-8594	404	21	research	research	NOUN
dem-8594	404	22	,	,	PUNCT
dem-8594	404	23	new	new	PROPN
dem-8594	404	24	york	york	PROPN
dem-8594	404	25	.	.	PUNCT