id	sid	tid	token	lemma	pos
emaj-126	1	1	volume	volume	NOUN
emaj-126	1	2	6	6	NUM
emaj-126	1	3	no	no	DET
emaj-126	1	4	1	1	NUM
emaj-126	1	5	(	(	PUNCT
emaj-126	1	6	2016	2016	NUM
emaj-126	1	7	)	)	PUNCT
emaj-126	1	8	|	|	ADV
emaj-126	1	9	issn	issn	VERB
emaj-126	1	10	2158	2158	NUM
emaj-126	1	11	-	-	SYM
emaj-126	1	12	8708	8708	NUM
emaj-126	1	13	(	(	PUNCT
emaj-126	1	14	online	online	NOUN
emaj-126	1	15	)	)	PUNCT
emaj-126	1	16	|	|	ADV
emaj-126	1	17	doi	doi	X
emaj-126	1	18	10.5195	10.5195	NUM
emaj-126	1	19	/	/	SYM
emaj-126	1	20	emaj.2016.92	emaj.2016.92	NOUN
emaj-126	1	21	|	|	ADV
emaj-126	1	22	http://emaj.pitt.edu	http://emaj.pitt.edu	VERB
emaj-126	1	23	gold	gold	NOUN
emaj-126	1	24	-	-	PUNCT
emaj-126	1	25	stock	stock	NOUN
emaj-126	1	26	market	market	NOUN
emaj-126	1	27	relationship	relationship	NOUN
emaj-126	1	28	:	:	PUNCT
emaj-126	1	29	emerging	emerge	VERB
emaj-126	1	30	markets	market	NOUN
emaj-126	1	31	versus	versus	ADP
emaj-126	1	32	developed	develop	VERB
emaj-126	1	33	markets	market	NOUN
emaj-126	1	34	jalal	jalal	PROPN
emaj-126	1	35	seifoddini	seifoddini	PROPN
emaj-126	1	36	islamshahr	islamshahr	PROPN
emaj-126	1	37	branch	branch	NOUN
emaj-126	1	38	,	,	PUNCT
emaj-126	1	39	islamic	islamic	PROPN
emaj-126	1	40	azad	azad	PROPN
emaj-126	1	41	university	university	PROPN
emaj-126	2	1	|	|	CCONJ
emaj-126	2	2	jalal.seifoddini@iiau.ac.ir	jalal.seifoddini@iiau.ac.ir	PUNCT
emaj-126	2	3	fraydoon	fraydoon	NOUN
emaj-126	2	4	rahnamay	rahnamay	ADV
emaj-126	2	5	roodposhti	roodposhti	VERB
emaj-126	2	6	science	science	NOUN
emaj-126	2	7	and	and	CCONJ
emaj-126	2	8	research	research	NOUN
emaj-126	2	9	branch	branch	NOUN
emaj-126	2	10	,	,	PUNCT
emaj-126	2	11	islamic	islamic	PROPN
emaj-126	2	12	azad	azad	PROPN
emaj-126	2	13	university	university	PROPN
emaj-126	2	14	|	|	ADV
emaj-126	2	15	f-rahnamayroudposhti@srbiau.ac.ir	f-rahnamayroudposhti@srbiau.ac.ir	VERB
emaj-126	2	16	elahe	elahe	PROPN
emaj-126	2	17	kamali	kamali	PROPN
emaj-126	2	18	central	central	PROPN
emaj-126	2	19	tehran	tehran	PROPN
emaj-126	2	20	branch	branch	NOUN
emaj-126	2	21	,	,	PUNCT
emaj-126	2	22	islamic	islamic	PROPN
emaj-126	2	23	azad	azad	PROPN
emaj-126	2	24	university	university	PROPN
emaj-126	2	25	|	|	ADV
emaj-126	2	26	ela.kamali.mng@iauctb.ac.ir	ela.kamali.mng@iauctb.ac.ir	NOUN
emaj-126	3	1	abstract	abstract	ADV
emaj-126	3	2	we	we	PRON
emaj-126	3	3	perform	perform	VERB
emaj-126	3	4	a	a	DET
emaj-126	3	5	comparative	comparative	ADJ
emaj-126	3	6	study	study	NOUN
emaj-126	3	7	on	on	ADP
emaj-126	3	8	the	the	DET
emaj-126	3	9	gold	gold	NOUN
emaj-126	3	10	-	-	PUNCT
emaj-126	3	11	stock	stock	NOUN
emaj-126	3	12	market	market	NOUN
emaj-126	3	13	relationship	relationship	NOUN
emaj-126	3	14	in	in	ADP
emaj-126	3	15	u.s	u.s	PROPN
emaj-126	3	16	.	.	PROPN
emaj-126	3	17	stock	stock	NOUN
emaj-126	3	18	market	market	NOUN
emaj-126	3	19	as	as	ADP
emaj-126	3	20	a	a	DET
emaj-126	3	21	developed	developed	ADJ
emaj-126	3	22	market	market	NOUN
emaj-126	3	23	and	and	CCONJ
emaj-126	3	24	in	in	ADP
emaj-126	3	25	iran	iran	PROPN
emaj-126	3	26	stock	stock	NOUN
emaj-126	3	27	market	market	NOUN
emaj-126	3	28	as	as	ADP
emaj-126	3	29	an	an	DET
emaj-126	3	30	emerging	emerge	VERB
emaj-126	3	31	market	market	NOUN
emaj-126	3	32	.	.	PUNCT
emaj-126	4	1	by	by	ADP
emaj-126	4	2	considering	consider	VERB
emaj-126	4	3	appropriate	appropriate	ADJ
emaj-126	4	4	variables	variable	NOUN
emaj-126	4	5	for	for	ADP
emaj-126	4	6	emerging	emerge	VERB
emaj-126	4	7	markets	market	NOUN
emaj-126	4	8	and	and	CCONJ
emaj-126	4	9	by	by	ADP
emaj-126	4	10	providing	provide	VERB
emaj-126	4	11	a	a	DET
emaj-126	4	12	more	more	ADV
emaj-126	4	13	proper	proper	ADJ
emaj-126	4	14	methodology	methodology	NOUN
emaj-126	4	15	,	,	PUNCT
emaj-126	4	16	we	we	PRON
emaj-126	4	17	improve	improve	VERB
emaj-126	4	18	earlier	early	ADJ
emaj-126	4	19	studies	study	NOUN
emaj-126	4	20	.	.	PUNCT
emaj-126	5	1	according	accord	VERB
emaj-126	5	2	to	to	ADP
emaj-126	5	3	our	our	PRON
emaj-126	5	4	findings	finding	NOUN
emaj-126	5	5	,	,	PUNCT
emaj-126	5	6	the	the	DET
emaj-126	5	7	relationship	relationship	NOUN
emaj-126	5	8	between	between	ADP
emaj-126	5	9	stock	stock	NOUN
emaj-126	5	10	market	market	NOUN
emaj-126	5	11	returns	return	NOUN
emaj-126	5	12	and	and	CCONJ
emaj-126	5	13	gold	gold	NOUN
emaj-126	5	14	price	price	NOUN
emaj-126	5	15	returns	return	NOUN
emaj-126	5	16	does	do	AUX
emaj-126	5	17	not	not	PART
emaj-126	5	18	follow	follow	VERB
emaj-126	5	19	any	any	DET
emaj-126	5	20	specific	specific	ADJ
emaj-126	5	21	regimes	regime	NOUN
emaj-126	5	22	and	and	CCONJ
emaj-126	5	23	that	that	SCONJ
emaj-126	5	24	this	this	DET
emaj-126	5	25	relationship	relationship	NOUN
emaj-126	5	26	changes	change	VERB
emaj-126	5	27	in	in	ADP
emaj-126	5	28	short	short	ADJ
emaj-126	5	29	and	and	CCONJ
emaj-126	5	30	long	long	ADJ
emaj-126	5	31	term	term	NOUN
emaj-126	5	32	returns	return	NOUN
emaj-126	5	33	.	.	PUNCT
emaj-126	6	1	it	it	PRON
emaj-126	6	2	is	be	AUX
emaj-126	6	3	necessary	necessary	ADJ
emaj-126	6	4	to	to	PART
emaj-126	6	5	mention	mention	VERB
emaj-126	6	6	that	that	SCONJ
emaj-126	6	7	in	in	ADP
emaj-126	6	8	the	the	DET
emaj-126	6	9	present	present	ADJ
emaj-126	6	10	research	research	NOUN
emaj-126	6	11	,	,	PUNCT
emaj-126	6	12	we	we	PRON
emaj-126	6	13	did	do	AUX
emaj-126	6	14	not	not	PART
emaj-126	6	15	consider	consider	VERB
emaj-126	6	16	this	this	DET
emaj-126	6	17	relationship	relationship	NOUN
emaj-126	6	18	in	in	ADP
emaj-126	6	19	major	major	ADJ
emaj-126	6	20	structural	structural	ADJ
emaj-126	6	21	changes	change	NOUN
emaj-126	6	22	in	in	ADP
emaj-126	6	23	the	the	DET
emaj-126	6	24	economies	economy	NOUN
emaj-126	6	25	and	and	CCONJ
emaj-126	6	26	instead	instead	ADV
emaj-126	6	27	considered	consider	VERB
emaj-126	6	28	usual	usual	ADJ
emaj-126	6	29	economic	economic	ADJ
emaj-126	6	30	circumstances	circumstance	NOUN
emaj-126	6	31	that	that	PRON
emaj-126	6	32	investors	investor	NOUN
emaj-126	6	33	are	be	AUX
emaj-126	6	34	regularly	regularly	ADV
emaj-126	6	35	faced	face	VERB
emaj-126	6	36	with	with	ADP
emaj-126	6	37	in	in	ADP
emaj-126	6	38	their	their	PRON
emaj-126	6	39	investment	investment	NOUN
emaj-126	6	40	decisions	decision	NOUN
emaj-126	6	41	.	.	PUNCT
emaj-126	7	1	keywords	keyword	NOUN
emaj-126	7	2	:	:	PUNCT
emaj-126	7	3	gold	gold	NOUN
emaj-126	7	4	,	,	PUNCT
emaj-126	7	5	stock	stock	NOUN
emaj-126	7	6	market	market	NOUN
emaj-126	7	7	,	,	PUNCT
emaj-126	7	8	safe	safe	ADJ
emaj-126	7	9	haven	haven	NOUN
emaj-126	7	10	,	,	PUNCT
emaj-126	7	11	hedge	hedge	NOUN
emaj-126	7	12	,	,	PUNCT
emaj-126	7	13	regime	regime	NOUN
emaj-126	7	14	switching	switch	VERB
emaj-126	7	15	new	new	ADJ
emaj-126	7	16	articles	article	NOUN
emaj-126	7	17	in	in	ADP
emaj-126	7	18	this	this	DET
emaj-126	7	19	journal	journal	NOUN
emaj-126	7	20	are	be	AUX
emaj-126	7	21	licensed	license	VERB
emaj-126	7	22	under	under	ADP
emaj-126	7	23	a	a	DET
emaj-126	7	24	creative	creative	ADJ
emaj-126	7	25	commons	common	NOUN
emaj-126	7	26	attribution	attribution	NOUN
emaj-126	7	27	3.0	3.0	NUM
emaj-126	7	28	united	unite	VERB
emaj-126	7	29	states	states	PROPN
emaj-126	7	30	license	license	NOUN
emaj-126	7	31	.	.	PUNCT
emaj-126	8	1	this	this	DET
emaj-126	8	2	journal	journal	NOUN
emaj-126	8	3	is	be	AUX
emaj-126	8	4	published	publish	VERB
emaj-126	8	5	by	by	ADP
emaj-126	8	6	the	the	DET
emaj-126	8	7	university	university	NOUN
emaj-126	8	8	library	library	NOUN
emaj-126	8	9	system	system	NOUN
emaj-126	8	10	of	of	ADP
emaj-126	8	11	the	the	DET
emaj-126	8	12	university	university	PROPN
emaj-126	8	13	of	of	ADP
emaj-126	8	14	pittsburgh	pittsburgh	PROPN
emaj-126	8	15	as	as	ADP
emaj-126	8	16	part	part	NOUN
emaj-126	8	17	of	of	ADP
emaj-126	8	18	its	its	PRON
emaj-126	8	19	d	d	NOUN
emaj-126	8	20	-	-	PUNCT
emaj-126	8	21	scribe	scribe	VERB
emaj-126	8	22	digital	digital	ADJ
emaj-126	8	23	publishing	publishing	NOUN
emaj-126	8	24	program	program	NOUN
emaj-126	8	25	,	,	PUNCT
emaj-126	8	26	and	and	CCONJ
emaj-126	8	27	is	be	AUX
emaj-126	8	28	cosponsored	cosponsor	VERB
emaj-126	8	29	by	by	ADP
emaj-126	8	30	the	the	DET
emaj-126	8	31	university	university	PROPN
emaj-126	8	32	of	of	ADP
emaj-126	8	33	pittsburgh	pittsburgh	PROPN
emaj-126	8	34	press	press	NOUN
emaj-126	8	35	.	.	PUNCT
emaj-126	9	1	volume	volume	NOUN
emaj-126	9	2	7	7	NUM
emaj-126	9	3	no	no	DET
emaj-126	9	4	1	1	NUM
emaj-126	9	5	(	(	PUNCT
emaj-126	9	6	2017	2017	NUM
emaj-126	9	7	)	)	PUNCT
emaj-126	9	8	|	|	ADV
emaj-126	9	9	issn	issn	VERB
emaj-126	9	10	2158	2158	NUM
emaj-126	9	11	-	-	SYM
emaj-126	9	12	8708	8708	NUM
emaj-126	9	13	(	(	PUNCT
emaj-126	9	14	online	online	NOUN
emaj-126	9	15	)	)	PUNCT
emaj-126	9	16	|	|	ADV
emaj-126	9	17	doi	doi	X
emaj-126	9	18	10.5195	10.5195	NUM
emaj-126	9	19	/	/	SYM
emaj-126	9	20	emaj.2017.126	emaj.2017.126	NOUN
emaj-126	10	1	|	|	NOUN
emaj-126	10	2	http://emaj.pitt.edu	http://emaj.pitt.edu	VERB
emaj-126	10	3	|	|	ADV
emaj-126	10	4	mailto:jalal.seifoddini@iiau.ac.ir	mailto:jalal.seifoddini@iiau.ac.ir	PROPN
emaj-126	10	5	mailto:f-rahnamayroudposhti@srbiau.ac.ir	mailto:f-rahnamayroudposhti@srbiau.ac.ir	VERB
emaj-126	10	6	http://www.library.pitt.edu/	http://www.library.pitt.edu/	PROPN
emaj-126	10	7	http://www.pitt.edu/	http://www.pitt.edu/	NOUN
emaj-126	10	8	http://www.library.pitt.edu/articles/digpubtype/index.html	http://www.library.pitt.edu/articles/digpubtype/index.html	X
emaj-126	10	9	http://www.upress.pitt.edu/upressindex.aspx	http://www.upress.pitt.edu/upressindex.aspx	NUM
emaj-126	10	10	http://creativecommons.org/licenses/by/3.0/us/	http://creativecommons.org/licenses/by/3.0/us/	NOUN
emaj-126	10	11	volume	volume	VERB
emaj-126	10	12	7	7	NUM
emaj-126	10	13	no	no	DET
emaj-126	10	14	1	1	NUM
emaj-126	10	15	(	(	PUNCT
emaj-126	10	16	2017	2017	NUM
emaj-126	10	17	)	)	PUNCT
emaj-126	10	18	|	|	ADV
emaj-126	10	19	issn	issn	VERB
emaj-126	10	20	2158	2158	NUM
emaj-126	10	21	-	-	SYM
emaj-126	10	22	8708	8708	NUM
emaj-126	10	23	(	(	PUNCT
emaj-126	10	24	online	online	NOUN
emaj-126	10	25	)	)	PUNCT
emaj-126	10	26	|	|	ADV
emaj-126	10	27	doi	doi	X
emaj-126	10	28	10.5195	10.5195	NUM
emaj-126	10	29	/	/	SYM
emaj-126	10	30	emaj.2017.126	emaj.2017.126	PROPN
emaj-126	10	31	|	|	NOUN
emaj-126	10	32	http://emaj.pitt.edu	http://emaj.pitt.edu	VERB
emaj-126	10	33	gold	gold	NOUN
emaj-126	10	34	-	-	PUNCT
emaj-126	10	35	stock	stock	NOUN
emaj-126	10	36	market	market	NOUN
emaj-126	10	37	relationship	relationship	NOUN
emaj-126	10	38	:	:	PUNCT
emaj-126	10	39	emerging	emerge	VERB
emaj-126	10	40	markets	market	NOUN
emaj-126	10	41	versus	versus	ADP
emaj-126	10	42	developed	develop	VERB
emaj-126	10	43	markets	market	NOUN
emaj-126	10	44	page	page	NOUN
emaj-126	10	45	|17|	|17|	NOUN
emaj-126	10	46	emerging	emerge	VERB
emaj-126	10	47	markets	market	NOUN
emaj-126	10	48	journal	journal	NOUN
emaj-126	10	49	gold	gold	NOUN
emaj-126	10	50	-	-	PUNCT
emaj-126	10	51	stock	stock	NOUN
emaj-126	10	52	market	market	NOUN
emaj-126	10	53	relationship	relationship	NOUN
emaj-126	10	54	:	:	PUNCT
emaj-126	10	55	emerging	emerge	VERB
emaj-126	10	56	markets	market	NOUN
emaj-126	10	57	versus	versus	ADP
emaj-126	10	58	developed	develop	VERB
emaj-126	10	59	markets	market	NOUN
emaj-126	10	60	jalal	jalal	PROPN
emaj-126	10	61	seifoddini	seifoddini	PROPN
emaj-126	10	62	fraydoon	fraydoon	PROPN
emaj-126	10	63	rahnamay	rahnamay	ADV
emaj-126	10	64	roodposhti	roodposhti	VERB
emaj-126	10	65	elahe	elahe	PROPN
emaj-126	10	66	kamali	kamali	PROPN
emaj-126	10	67	1	1	PROPN
emaj-126	10	68	.	.	PUNCT
emaj-126	11	1	introduction	introduction	NOUN
emaj-126	11	2	investors	investor	NOUN
emaj-126	11	3	always	always	ADV
emaj-126	11	4	look	look	VERB
emaj-126	11	5	for	for	ADP
emaj-126	11	6	different	different	ADJ
emaj-126	11	7	assets	asset	NOUN
emaj-126	11	8	,	,	PUNCT
emaj-126	11	9	to	to	PART
emaj-126	11	10	lower	lower	VERB
emaj-126	11	11	the	the	DET
emaj-126	11	12	risk	risk	NOUN
emaj-126	11	13	of	of	ADP
emaj-126	11	14	their	their	PRON
emaj-126	11	15	portfolios	portfolio	NOUN
emaj-126	11	16	as	as	ADV
emaj-126	11	17	low	low	ADJ
emaj-126	11	18	as	as	ADP
emaj-126	11	19	possible	possible	ADJ
emaj-126	11	20	,	,	PUNCT
emaj-126	11	21	and	and	CCONJ
emaj-126	11	22	gold	gold	NOUN
emaj-126	11	23	is	be	AUX
emaj-126	11	24	conceived	conceive	VERB
emaj-126	11	25	to	to	PART
emaj-126	11	26	have	have	VERB
emaj-126	11	27	great	great	ADJ
emaj-126	11	28	potentials	potential	NOUN
emaj-126	11	29	for	for	ADP
emaj-126	11	30	this	this	DET
emaj-126	11	31	purpose	purpose	NOUN
emaj-126	11	32	.	.	PUNCT
emaj-126	12	1	in	in	ADP
emaj-126	12	2	the	the	DET
emaj-126	12	3	present	present	ADJ
emaj-126	12	4	research	research	NOUN
emaj-126	12	5	,	,	PUNCT
emaj-126	12	6	we	we	PRON
emaj-126	12	7	will	will	AUX
emaj-126	12	8	investigate	investigate	VERB
emaj-126	12	9	whether	whether	SCONJ
emaj-126	12	10	gold	gold	NOUN
emaj-126	12	11	is	be	AUX
emaj-126	12	12	an	an	DET
emaj-126	12	13	asset	asset	NOUN
emaj-126	12	14	with	with	ADP
emaj-126	12	15	the	the	DET
emaj-126	12	16	characteristic	characteristic	NOUN
emaj-126	12	17	of	of	ADP
emaj-126	12	18	a	a	DET
emaj-126	12	19	safe	safe	ADJ
emaj-126	12	20	haven	haven	NOUN
emaj-126	12	21	or	or	CCONJ
emaj-126	12	22	hedge	hedge	NOUN
emaj-126	12	23	.	.	PUNCT
emaj-126	13	1	in	in	ADP
emaj-126	13	2	this	this	DET
emaj-126	13	3	regard	regard	NOUN
emaj-126	13	4	,	,	PUNCT
emaj-126	13	5	we	we	PRON
emaj-126	13	6	will	will	AUX
emaj-126	13	7	improve	improve	VERB
emaj-126	13	8	past	past	ADJ
emaj-126	13	9	studies	study	NOUN
emaj-126	13	10	by	by	ADP
emaj-126	13	11	further	far	ADV
emaj-126	13	12	investigating	investigate	VERB
emaj-126	13	13	the	the	DET
emaj-126	13	14	difference	difference	NOUN
emaj-126	13	15	in	in	ADP
emaj-126	13	16	the	the	DET
emaj-126	13	17	role	role	NOUN
emaj-126	13	18	of	of	ADP
emaj-126	13	19	gold	gold	NOUN
emaj-126	13	20	in	in	ADP
emaj-126	13	21	developed	develop	VERB
emaj-126	13	22	markets	market	NOUN
emaj-126	13	23	and	and	CCONJ
emaj-126	13	24	emerging	emerge	VERB
emaj-126	13	25	markets	market	NOUN
emaj-126	13	26	,	,	PUNCT
emaj-126	13	27	because	because	SCONJ
emaj-126	13	28	we	we	PRON
emaj-126	13	29	guess	guess	VERB
emaj-126	13	30	that	that	SCONJ
emaj-126	13	31	developed	develop	VERB
emaj-126	13	32	markets	market	NOUN
emaj-126	13	33	have	have	VERB
emaj-126	13	34	a	a	DET
emaj-126	13	35	greater	great	ADJ
emaj-126	13	36	effect	effect	NOUN
emaj-126	13	37	on	on	ADP
emaj-126	13	38	gold	gold	NOUN
emaj-126	13	39	compared	compare	VERB
emaj-126	13	40	to	to	ADP
emaj-126	13	41	emerging	emerge	VERB
emaj-126	13	42	markets	market	NOUN
emaj-126	13	43	.	.	PUNCT
emaj-126	14	1	according	accord	VERB
emaj-126	14	2	to	to	ADP
emaj-126	14	3	pierdzioch	pierdzioch	PROPN
emaj-126	14	4	et	et	PROPN
emaj-126	14	5	al	al	PROPN
emaj-126	14	6	.	.	PUNCT
emaj-126	15	1	(	(	PUNCT
emaj-126	15	2	2016	2016	NUM
emaj-126	15	3	)	)	PUNCT
emaj-126	15	4	,	,	PUNCT
emaj-126	15	5	investigating	investigate	VERB
emaj-126	15	6	the	the	DET
emaj-126	15	7	data	datum	NOUN
emaj-126	15	8	of	of	ADP
emaj-126	15	9	other	other	ADJ
emaj-126	15	10	markets	market	NOUN
emaj-126	15	11	can	can	AUX
emaj-126	15	12	be	be	AUX
emaj-126	15	13	interesting	interesting	ADJ
emaj-126	15	14	,	,	PUNCT
emaj-126	15	15	because	because	SCONJ
emaj-126	15	16	recent	recent	ADJ
emaj-126	15	17	studies	study	NOUN
emaj-126	15	18	have	have	AUX
emaj-126	15	19	obtained	obtain	VERB
emaj-126	15	20	interesting	interesting	ADJ
emaj-126	15	21	results	result	NOUN
emaj-126	15	22	about	about	ADP
emaj-126	15	23	the	the	DET
emaj-126	15	24	gold	gold	NOUN
emaj-126	15	25	market	market	NOUN
emaj-126	15	26	efficiency	efficiency	NOUN
emaj-126	15	27	in	in	ADP
emaj-126	15	28	various	various	ADJ
emaj-126	15	29	countries	country	NOUN
emaj-126	15	30	.	.	PUNCT
emaj-126	16	1	therefore	therefore	ADV
emaj-126	16	2	,	,	PUNCT
emaj-126	16	3	we	we	PRON
emaj-126	16	4	will	will	AUX
emaj-126	16	5	consider	consider	VERB
emaj-126	16	6	iran	iran	PROPN
emaj-126	16	7	's	's	PART
emaj-126	16	8	stock	stock	NOUN
emaj-126	16	9	market	market	NOUN
emaj-126	16	10	,	,	PUNCT
emaj-126	16	11	which	which	PRON
emaj-126	16	12	is	be	AUX
emaj-126	16	13	recognized	recognize	VERB
emaj-126	16	14	as	as	ADP
emaj-126	16	15	an	an	DET
emaj-126	16	16	important	important	ADJ
emaj-126	16	17	emerging	emerge	VERB
emaj-126	16	18	market	market	NOUN
emaj-126	16	19	in	in	ADP
emaj-126	16	20	recent	recent	ADJ
emaj-126	16	21	years	year	NOUN
emaj-126	16	22	and	and	CCONJ
emaj-126	16	23	frequently	frequently	ADV
emaj-126	16	24	mentioned	mention	VERB
emaj-126	16	25	as	as	ADP
emaj-126	16	26	one	one	NUM
emaj-126	16	27	of	of	ADP
emaj-126	16	28	the	the	DET
emaj-126	16	29	next	next	ADJ
emaj-126	16	30	eleven	eleven	NUM
emaj-126	16	31	emerging	emerge	VERB
emaj-126	16	32	economies	economy	NOUN
emaj-126	16	33	(	(	PUNCT
emaj-126	16	34	pradhan	pradhan	PROPN
emaj-126	16	35	et	et	PROPN
emaj-126	16	36	al	al	PROPN
emaj-126	16	37	.	.	PUNCT
emaj-126	17	1	(	(	PUNCT
emaj-126	17	2	2016	2016	NUM
emaj-126	17	3	)	)	PUNCT
emaj-126	17	4	,	,	PUNCT
emaj-126	17	5	heirati	heirati	NOUN
emaj-126	17	6	&	&	CCONJ
emaj-126	17	7	o’cass	o’cass	PROPN
emaj-126	17	8	(	(	PUNCT
emaj-126	17	9	2016	2016	NUM
emaj-126	17	10	)	)	PUNCT
emaj-126	17	11	,	,	PUNCT
emaj-126	17	12	and	and	CCONJ
emaj-126	17	13	rancic	rancic	PROPN
emaj-126	17	14	&	&	CCONJ
emaj-126	17	15	jakovljevic	jakovljevic	PROPN
emaj-126	17	16	(	(	PUNCT
emaj-126	17	17	2016	2016	NUM
emaj-126	17	18	)	)	PUNCT
emaj-126	17	19	)	)	PUNCT
emaj-126	17	20	.	.	PUNCT
emaj-126	18	1	nevertheless	nevertheless	ADV
emaj-126	18	2	,	,	PUNCT
emaj-126	18	3	past	past	ADP
emaj-126	18	4	studies	study	NOUN
emaj-126	18	5	in	in	ADP
emaj-126	18	6	this	this	DET
emaj-126	18	7	field	field	NOUN
emaj-126	18	8	,	,	PUNCT
emaj-126	18	9	which	which	PRON
emaj-126	18	10	we	we	PRON
emaj-126	18	11	addressed	address	VERB
emaj-126	18	12	in	in	ADP
emaj-126	18	13	the	the	DET
emaj-126	18	14	literature	literature	NOUN
emaj-126	18	15	review	review	NOUN
emaj-126	18	16	,	,	PUNCT
emaj-126	18	17	have	have	AUX
emaj-126	18	18	not	not	PART
emaj-126	18	19	covered	cover	VERB
emaj-126	18	20	iran	iran	PROPN
emaj-126	18	21	's	's	PART
emaj-126	18	22	market	market	NOUN
emaj-126	18	23	and	and	CCONJ
emaj-126	18	24	studying	study	VERB
emaj-126	18	25	iran	iran	PROPN
emaj-126	18	26	’s	’s	PART
emaj-126	18	27	market	market	NOUN
emaj-126	18	28	is	be	AUX
emaj-126	18	29	one	one	NUM
emaj-126	18	30	of	of	ADP
emaj-126	18	31	our	our	PRON
emaj-126	18	32	contributions	contribution	NOUN
emaj-126	18	33	.	.	PUNCT
emaj-126	19	1	in	in	ADP
emaj-126	19	2	addition	addition	NOUN
emaj-126	19	3	,	,	PUNCT
emaj-126	19	4	given	give	VERB
emaj-126	19	5	that	that	SCONJ
emaj-126	19	6	the	the	DET
emaj-126	19	7	official	official	ADJ
emaj-126	19	8	global	global	ADJ
emaj-126	19	9	gold	gold	NOUN
emaj-126	19	10	price	price	NOUN
emaj-126	19	11	is	be	AUX
emaj-126	19	12	denominated	denominate	VERB
emaj-126	19	13	in	in	ADP
emaj-126	19	14	u.s	u.s	PROPN
emaj-126	19	15	.	.	PROPN
emaj-126	19	16	dollars	dollar	NOUN
emaj-126	19	17	,	,	PUNCT
emaj-126	19	18	currency	currency	NOUN
emaj-126	19	19	exchange	exchange	NOUN
emaj-126	19	20	rate	rate	NOUN
emaj-126	19	21	changes	change	NOUN
emaj-126	19	22	in	in	ADP
emaj-126	19	23	the	the	DET
emaj-126	19	24	financial	financial	ADJ
emaj-126	19	25	markets	market	NOUN
emaj-126	19	26	of	of	ADP
emaj-126	19	27	different	different	ADJ
emaj-126	19	28	countries	country	NOUN
emaj-126	19	29	other	other	ADJ
emaj-126	19	30	than	than	ADP
emaj-126	19	31	u.s	u.s	PROPN
emaj-126	19	32	.	.	PROPN
emaj-126	19	33	can	can	AUX
emaj-126	19	34	influence	influence	VERB
emaj-126	19	35	the	the	DET
emaj-126	19	36	relationship	relationship	NOUN
emaj-126	19	37	between	between	ADP
emaj-126	19	38	gold	gold	NOUN
emaj-126	19	39	and	and	CCONJ
emaj-126	19	40	stock	stock	NOUN
emaj-126	19	41	market	market	NOUN
emaj-126	19	42	in	in	ADP
emaj-126	19	43	these	these	DET
emaj-126	19	44	countries	country	NOUN
emaj-126	19	45	.	.	PUNCT
emaj-126	20	1	therefore	therefore	ADV
emaj-126	20	2	,	,	PUNCT
emaj-126	20	3	comparing	compare	VERB
emaj-126	20	4	the	the	DET
emaj-126	20	5	relationship	relationship	NOUN
emaj-126	20	6	between	between	ADP
emaj-126	20	7	gold	gold	NOUN
emaj-126	20	8	and	and	CCONJ
emaj-126	20	9	stock	stock	NOUN
emaj-126	20	10	market	market	NOUN
emaj-126	20	11	in	in	ADP
emaj-126	20	12	u.s	u.s	PROPN
emaj-126	20	13	.	.	PROPN
emaj-126	20	14	whose	whose	DET
emaj-126	20	15	currency	currency	NOUN
emaj-126	20	16	is	be	AUX
emaj-126	20	17	dollar	dollar	NOUN
emaj-126	20	18	and	and	CCONJ
emaj-126	20	19	has	have	VERB
emaj-126	20	20	a	a	DET
emaj-126	20	21	very	very	ADV
emaj-126	20	22	developed	develop	VERB
emaj-126	20	23	financial	financial	ADJ
emaj-126	20	24	market	market	NOUN
emaj-126	20	25	with	with	ADP
emaj-126	20	26	another	another	DET
emaj-126	20	27	country	country	NOUN
emaj-126	20	28	whose	whose	DET
emaj-126	20	29	currency	currency	NOUN
emaj-126	20	30	is	be	AUX
emaj-126	20	31	not	not	PART
emaj-126	20	32	u.s	u.s	PROPN
emaj-126	20	33	dollar	dollar	NOUN
emaj-126	20	34	and	and	CCONJ
emaj-126	20	35	is	be	AUX
emaj-126	20	36	also	also	ADV
emaj-126	20	37	recognized	recognize	VERB
emaj-126	20	38	as	as	ADP
emaj-126	20	39	a	a	DET
emaj-126	20	40	small	small	ADJ
emaj-126	20	41	emerging	emerge	VERB
emaj-126	20	42	market	market	NOUN
emaj-126	20	43	can	can	AUX
emaj-126	20	44	reveal	reveal	VERB
emaj-126	20	45	the	the	DET
emaj-126	20	46	differences	difference	NOUN
emaj-126	20	47	in	in	ADP
emaj-126	20	48	the	the	DET
emaj-126	20	49	role	role	NOUN
emaj-126	20	50	of	of	ADP
emaj-126	20	51	gold	gold	NOUN
emaj-126	20	52	in	in	ADP
emaj-126	20	53	different	different	ADJ
emaj-126	20	54	economies	economy	NOUN
emaj-126	20	55	.	.	PUNCT
emaj-126	21	1	we	we	PRON
emaj-126	21	2	investigate	investigate	VERB
emaj-126	21	3	this	this	DET
emaj-126	21	4	matter	matter	NOUN
emaj-126	21	5	in	in	ADP
emaj-126	21	6	the	the	DET
emaj-126	21	7	present	present	ADJ
emaj-126	21	8	paper	paper	NOUN
emaj-126	21	9	as	as	ADP
emaj-126	21	10	one	one	NUM
emaj-126	21	11	of	of	ADP
emaj-126	21	12	our	our	PRON
emaj-126	21	13	contributions	contribution	NOUN
emaj-126	21	14	.	.	PUNCT
emaj-126	22	1	another	another	DET
emaj-126	22	2	contribution	contribution	NOUN
emaj-126	22	3	of	of	ADP
emaj-126	22	4	this	this	DET
emaj-126	22	5	paper	paper	NOUN
emaj-126	22	6	is	be	AUX
emaj-126	22	7	the	the	DET
emaj-126	22	8	modelling	modelling	NOUN
emaj-126	22	9	of	of	ADP
emaj-126	22	10	the	the	DET
emaj-126	22	11	relationship	relationship	NOUN
emaj-126	22	12	between	between	ADP
emaj-126	22	13	gold	gold	NOUN
emaj-126	22	14	and	and	CCONJ
emaj-126	22	15	stock	stock	NOUN
emaj-126	22	16	market	market	NOUN
emaj-126	22	17	using	use	VERB
emaj-126	22	18	a	a	DET
emaj-126	22	19	regime	regime	NOUN
emaj-126	22	20	switching	switch	VERB
emaj-126	22	21	approach	approach	NOUN
emaj-126	22	22	and	and	CCONJ
emaj-126	22	23	determining	determine	VERB
emaj-126	22	24	the	the	DET
emaj-126	22	25	regimes	regime	NOUN
emaj-126	22	26	based	base	VERB
emaj-126	22	27	on	on	ADP
emaj-126	22	28	the	the	DET
emaj-126	22	29	data	data	NOUN
emaj-126	22	30	characteristics	characteristic	NOUN
emaj-126	22	31	,	,	PUNCT
emaj-126	22	32	the	the	DET
emaj-126	22	33	details	detail	NOUN
emaj-126	22	34	for	for	ADP
emaj-126	22	35	which	which	PRON
emaj-126	22	36	are	be	AUX
emaj-126	22	37	presented	present	VERB
emaj-126	22	38	in	in	ADP
emaj-126	22	39	the	the	DET
emaj-126	22	40	methodology	methodology	NOUN
emaj-126	22	41	section	section	NOUN
emaj-126	22	42	of	of	ADP
emaj-126	22	43	the	the	DET
emaj-126	22	44	paper	paper	NOUN
emaj-126	22	45	.	.	PUNCT
emaj-126	23	1	2	2	X
emaj-126	23	2	.	.	X
emaj-126	23	3	literature	literature	NOUN
emaj-126	23	4	review	review	VERB
emaj-126	23	5	primary	primary	ADJ
emaj-126	23	6	studies	study	NOUN
emaj-126	23	7	about	about	ADP
emaj-126	23	8	safe	safe	ADJ
emaj-126	23	9	havens	haven	NOUN
emaj-126	23	10	focus	focus	VERB
emaj-126	23	11	on	on	ADP
emaj-126	23	12	the	the	DET
emaj-126	23	13	behavior	behavior	NOUN
emaj-126	23	14	of	of	ADP
emaj-126	23	15	investors	investor	NOUN
emaj-126	23	16	at	at	ADP
emaj-126	23	17	the	the	DET
emaj-126	23	18	times	time	NOUN
emaj-126	23	19	of	of	ADP
emaj-126	23	20	crises	crisis	NOUN
emaj-126	23	21	in	in	ADP
emaj-126	23	22	a	a	DET
emaj-126	23	23	market	market	NOUN
emaj-126	23	24	,	,	PUNCT
emaj-126	23	25	for	for	ADP
emaj-126	23	26	example	example	NOUN
emaj-126	23	27	,	,	PUNCT
emaj-126	23	28	upper	upper	ADJ
emaj-126	23	29	(	(	PUNCT
emaj-126	23	30	2000	2000	NUM
emaj-126	23	31	)	)	PUNCT
emaj-126	23	32	focused	focus	VERB
emaj-126	23	33	on	on	ADP
emaj-126	23	34	market	market	NOUN
emaj-126	23	35	turmoil	turmoil	NOUN
emaj-126	23	36	in	in	ADP
emaj-126	23	37	1998	1998	NUM
emaj-126	23	38	.	.	PUNCT
emaj-126	24	1	kaul	kaul	PROPN
emaj-126	24	2	&	&	CCONJ
emaj-126	24	3	sapp	sapp	PROPN
emaj-126	24	4	(	(	PUNCT
emaj-126	24	5	2006	2006	NUM
emaj-126	24	6	)	)	PUNCT
emaj-126	24	7	,	,	PUNCT
emaj-126	24	8	and	and	CCONJ
emaj-126	24	9	mccauley	mccauley	PROPN
emaj-126	24	10	&	&	CCONJ
emaj-126	24	11	mcguire	mcguire	PROPN
emaj-126	24	12	(	(	PUNCT
emaj-126	24	13	2009	2009	NUM
emaj-126	24	14	)	)	PUNCT
emaj-126	24	15	also	also	ADV
emaj-126	24	16	studied	study	VERB
emaj-126	24	17	in	in	ADP
emaj-126	24	18	this	this	DET
emaj-126	24	19	field	field	NOUN
emaj-126	24	20	.	.	PUNCT
emaj-126	25	1	in	in	ADP
emaj-126	25	2	this	this	DET
emaj-126	25	3	type	type	NOUN
emaj-126	25	4	of	of	ADP
emaj-126	25	5	studies	study	NOUN
emaj-126	25	6	,	,	PUNCT
emaj-126	25	7	only	only	ADV
emaj-126	25	8	capie	capie	NOUN
emaj-126	25	9	et	et	PROPN
emaj-126	25	10	al	al	PROPN
emaj-126	25	11	.	.	PUNCT
emaj-126	26	1	(	(	PUNCT
emaj-126	26	2	2005	2005	NUM
emaj-126	26	3	)	)	PUNCT
emaj-126	26	4	,	,	PUNCT
emaj-126	26	5	clearly	clearly	ADV
emaj-126	26	6	investigated	investigate	VERB
emaj-126	26	7	the	the	DET
emaj-126	26	8	role	role	NOUN
emaj-126	26	9	of	of	ADP
emaj-126	26	10	gold	gold	NOUN
emaj-126	26	11	as	as	ADP
emaj-126	26	12	a	a	DET
emaj-126	26	13	hedge	hedge	NOUN
emaj-126	26	14	against	against	ADP
emaj-126	26	15	u.s	u.s	PROPN
emaj-126	26	16	.	.	PROPN
emaj-126	26	17	dollar	dollar	NOUN
emaj-126	26	18	.	.	PUNCT
emaj-126	27	1	baur	baur	PROPN
emaj-126	27	2	&	&	CCONJ
emaj-126	27	3	lucey	lucey	PROPN
emaj-126	27	4	(	(	PUNCT
emaj-126	27	5	2010	2010	NUM
emaj-126	27	6	)	)	PUNCT
emaj-126	27	7	,	,	PUNCT
emaj-126	27	8	presented	present	VERB
emaj-126	27	9	a	a	DET
emaj-126	27	10	specific	specific	ADJ
emaj-126	27	11	definition	definition	NOUN
emaj-126	27	12	of	of	ADP
emaj-126	27	13	safe	safe	ADJ
emaj-126	27	14	haven	haven	NOUN
emaj-126	27	15	and	and	CCONJ
emaj-126	27	16	hedge	hedge	NOUN
emaj-126	27	17	concepts	concept	NOUN
emaj-126	27	18	,	,	PUNCT
emaj-126	27	19	and	and	CCONJ
emaj-126	27	20	investigated	investigate	VERB
emaj-126	27	21	this	this	DET
emaj-126	27	22	subject	subject	NOUN
emaj-126	27	23	in	in	ADP
emaj-126	27	24	the	the	DET
emaj-126	27	25	markets	market	NOUN
emaj-126	27	26	of	of	ADP
emaj-126	27	27	the	the	DET
emaj-126	27	28	u.s	u.s	PROPN
emaj-126	27	29	.	.	PROPN
emaj-126	27	30	,	,	PUNCT
emaj-126	27	31	u.k	u.k	PROPN
emaj-126	27	32	.	.	PROPN
emaj-126	27	33	,	,	PUNCT
emaj-126	27	34	and	and	CCONJ
emaj-126	27	35	germany	germany	PROPN
emaj-126	27	36	and	and	CCONJ
emaj-126	27	37	discovered	discover	VERB
emaj-126	27	38	that	that	SCONJ
emaj-126	27	39	gold	gold	NOUN
emaj-126	27	40	is	be	AUX
emaj-126	27	41	normally	normally	ADV
emaj-126	27	42	a	a	DET
emaj-126	27	43	hedge	hedge	NOUN
emaj-126	27	44	for	for	ADP
emaj-126	27	45	the	the	DET
emaj-126	27	46	stock	stock	NOUN
emaj-126	27	47	market	market	NOUN
emaj-126	27	48	;	;	PUNCT
emaj-126	27	49	and	and	CCONJ
emaj-126	27	50	at	at	ADP
emaj-126	27	51	times	time	NOUN
emaj-126	27	52	of	of	ADP
emaj-126	27	53	a	a	DET
emaj-126	27	54	market	market	NOUN
emaj-126	27	55	collapse	collapse	NOUN
emaj-126	27	56	,	,	PUNCT
emaj-126	27	57	it	it	PRON
emaj-126	27	58	acts	act	VERB
emaj-126	27	59	as	as	ADP
emaj-126	27	60	a	a	DET
emaj-126	27	61	safe	safe	ADJ
emaj-126	27	62	haven	haven	NOUN
emaj-126	27	63	.	.	PUNCT
emaj-126	28	1	however	however	ADV
emaj-126	28	2	,	,	PUNCT
emaj-126	28	3	they	they	PRON
emaj-126	28	4	discovered	discover	VERB
emaj-126	28	5	that	that	SCONJ
emaj-126	28	6	the	the	DET
emaj-126	28	7	safe	safe	ADJ
emaj-126	28	8	haven	haven	NOUN
emaj-126	28	9	property	property	NOUN
emaj-126	28	10	of	of	ADP
emaj-126	28	11	gold	gold	NOUN
emaj-126	28	12	is	be	AUX
emaj-126	28	13	short	short	ADJ
emaj-126	28	14	lived	lived	ADJ
emaj-126	28	15	.	.	PUNCT
emaj-126	29	1	next	next	ADV
emaj-126	29	2	,	,	PUNCT
emaj-126	29	3	baur	baur	PROPN
emaj-126	29	4	&	&	CCONJ
emaj-126	29	5	mcdermott	mcdermott	PROPN
emaj-126	29	6	(	(	PUNCT
emaj-126	29	7	2010	2010	NUM
emaj-126	29	8	)	)	PUNCT
emaj-126	29	9	presented	present	VERB
emaj-126	29	10	a	a	DET
emaj-126	29	11	more	more	ADV
emaj-126	29	12	detailed	detailed	ADJ
emaj-126	29	13	definition	definition	NOUN
emaj-126	29	14	of	of	ADP
emaj-126	29	15	safe	safe	ADJ
emaj-126	29	16	haven	haven	NOUN
emaj-126	29	17	and	and	CCONJ
emaj-126	29	18	hedge	hedge	NOUN
emaj-126	29	19	assets	asset	NOUN
emaj-126	29	20	and	and	CCONJ
emaj-126	29	21	also	also	ADV
emaj-126	29	22	expanded	expand	VERB
emaj-126	29	23	the	the	DET
emaj-126	29	24	investigation	investigation	NOUN
emaj-126	29	25	scope	scope	NOUN
emaj-126	29	26	(	(	PUNCT
emaj-126	29	27	u.s	u.s	PROPN
emaj-126	29	28	.	.	PROPN
emaj-126	29	29	,	,	PUNCT
emaj-126	29	30	u.k	u.k	PROPN
emaj-126	29	31	.	.	PROPN
emaj-126	29	32	,	,	PUNCT
emaj-126	29	33	switzerland	switzerland	PROPN
emaj-126	29	34	,	,	PUNCT
emaj-126	29	35	russia	russia	PROPN
emaj-126	29	36	,	,	PUNCT
emaj-126	29	37	japan	japan	PROPN
emaj-126	29	38	,	,	PUNCT
emaj-126	29	39	italy	italy	PROPN
emaj-126	29	40	,	,	PUNCT
emaj-126	29	41	india	india	PROPN
emaj-126	29	42	,	,	PUNCT
emaj-126	29	43	germany	germany	PROPN
emaj-126	29	44	,	,	PUNCT
emaj-126	29	45	france	france	PROPN
emaj-126	29	46	,	,	PUNCT
emaj-126	29	47	china	china	PROPN
emaj-126	29	48	,	,	PUNCT
emaj-126	29	49	canada	canada	PROPN
emaj-126	29	50	,	,	PUNCT
emaj-126	29	51	brazil	brazil	PROPN
emaj-126	29	52	,	,	PUNCT
emaj-126	29	53	and	and	CCONJ
emaj-126	29	54	australia	australia	PROPN
emaj-126	29	55	)	)	PUNCT
emaj-126	29	56	.	.	PUNCT
emaj-126	30	1	according	accord	VERB
emaj-126	30	2	to	to	ADP
emaj-126	30	3	baur	baur	PROPN
emaj-126	30	4	&	&	CCONJ
emaj-126	30	5	mcdermott	mcdermott	PROPN
emaj-126	30	6	(	(	PUNCT
emaj-126	30	7	2010	2010	NUM
emaj-126	30	8	)	)	PUNCT
emaj-126	30	9	,	,	PUNCT
emaj-126	30	10	“	"	PUNCT
emaj-126	30	11	a	a	DET
emaj-126	30	12	strong	strong	ADJ
emaj-126	30	13	(	(	PUNCT
emaj-126	30	14	weak	weak	ADJ
emaj-126	30	15	)	)	PUNCT
emaj-126	30	16	hedge	hedge	NOUN
emaj-126	30	17	is	be	AUX
emaj-126	30	18	defined	define	VERB
emaj-126	30	19	as	as	ADP
emaj-126	30	20	an	an	DET
emaj-126	30	21	asset	asset	NOUN
emaj-126	30	22	that	that	PRON
emaj-126	30	23	is	be	AUX
emaj-126	30	24	negatively	negatively	ADV
emaj-126	30	25	correlated	correlate	VERB
emaj-126	30	26	(	(	PUNCT
emaj-126	30	27	uncorrelated	uncorrelated	ADJ
emaj-126	30	28	)	)	PUNCT
emaj-126	30	29	with	with	ADP
emaj-126	30	30	another	another	DET
emaj-126	30	31	asset	asset	NOUN
emaj-126	30	32	or	or	CCONJ
emaj-126	30	33	portfolio	portfolio	NOUN
emaj-126	30	34	on	on	ADP
emaj-126	30	35	average	average	ADJ
emaj-126	30	36	,	,	PUNCT
emaj-126	30	37	and	and	CCONJ
emaj-126	30	38	a	a	DET
emaj-126	30	39	strong	strong	ADJ
emaj-126	30	40	(	(	PUNCT
emaj-126	30	41	weak	weak	ADJ
emaj-126	30	42	)	)	PUNCT
emaj-126	30	43	safe	safe	ADJ
emaj-126	30	44	haven	haven	NOUN
emaj-126	30	45	is	be	AUX
emaj-126	30	46	defined	define	VERB
emaj-126	30	47	as	as	ADP
emaj-126	30	48	an	an	DET
emaj-126	30	49	asset	asset	NOUN
emaj-126	30	50	that	that	PRON
emaj-126	30	51	is	be	AUX
emaj-126	30	52	negatively	negatively	ADV
emaj-126	30	53	correlated	correlate	VERB
emaj-126	30	54	(	(	PUNCT
emaj-126	30	55	uncorrelated	uncorrelated	ADJ
emaj-126	30	56	)	)	PUNCT
emaj-126	30	57	with	with	ADP
emaj-126	30	58	another	another	DET
emaj-126	30	59	asset	asset	NOUN
emaj-126	30	60	or	or	CCONJ
emaj-126	30	61	portfolio	portfolio	NOUN
emaj-126	30	62	in	in	ADP
emaj-126	30	63	certain	certain	ADJ
emaj-126	30	64	periods	period	NOUN
emaj-126	30	65	only	only	ADV
emaj-126	30	66	,	,	PUNCT
emaj-126	30	67	e.g.	e.g.	ADV
emaj-126	30	68	in	in	ADP
emaj-126	30	69	times	time	NOUN
emaj-126	30	70	of	of	ADP
emaj-126	30	71	falling	fall	VERB
emaj-126	30	72	stock	stock	NOUN
emaj-126	30	73	markets	market	NOUN
emaj-126	30	74	”	"	PUNCT
emaj-126	30	75	.	.	PUNCT
emaj-126	31	1	baur	baur	PROPN
emaj-126	31	2	&	&	CCONJ
emaj-126	31	3	mcdermott	mcdermott	PROPN
emaj-126	31	4	(	(	PUNCT
emaj-126	31	5	2010	2010	NUM
emaj-126	31	6	)	)	PUNCT
emaj-126	31	7	discovered	discover	VERB
emaj-126	31	8	that	that	SCONJ
emaj-126	31	9	the	the	DET
emaj-126	31	10	role	role	NOUN
emaj-126	31	11	of	of	ADP
emaj-126	31	12	gold	gold	NOUN
emaj-126	31	13	as	as	ADP
emaj-126	31	14	a	a	DET
emaj-126	31	15	safe	safe	ADJ
emaj-126	31	16	haven	haven	NOUN
emaj-126	31	17	is	be	AUX
emaj-126	31	18	short	short	ADJ
emaj-126	31	19	lived	lived	ADJ
emaj-126	31	20	and	and	CCONJ
emaj-126	31	21	especially	especially	ADV
emaj-126	31	22	observed	observe	VERB
emaj-126	31	23	in	in	ADP
emaj-126	31	24	daily	daily	ADJ
emaj-126	31	25	fluctuations	fluctuation	NOUN
emaj-126	31	26	of	of	ADP
emaj-126	31	27	developed	develop	VERB
emaj-126	31	28	markets	market	NOUN
emaj-126	31	29	but	but	CCONJ
emaj-126	31	30	in	in	ADP
emaj-126	31	31	lower	low	ADJ
emaj-126	31	32	frequencies	frequency	NOUN
emaj-126	31	33	like	like	ADP
emaj-126	31	34	weekly	weekly	ADJ
emaj-126	31	35	or	or	CCONJ
emaj-126	31	36	monthly	monthly	ADV
emaj-126	31	37	,	,	PUNCT
emaj-126	31	38	no	no	DET
emaj-126	31	39	such	such	ADJ
emaj-126	31	40	relationship	relationship	NOUN
emaj-126	31	41	exists	exist	VERB
emaj-126	31	42	.	.	PUNCT
emaj-126	32	1	iqbal	iqbal	PROPN
emaj-126	32	2	(	(	PUNCT
emaj-126	32	3	2017	2017	NUM
emaj-126	32	4	)	)	PUNCT
emaj-126	32	5	,	,	PUNCT
emaj-126	32	6	added	add	VERB
emaj-126	32	7	pakistan	pakistan	PROPN
emaj-126	32	8	's	's	PART
emaj-126	32	9	market	market	NOUN
emaj-126	32	10	to	to	ADP
emaj-126	32	11	the	the	DET
emaj-126	32	12	population	population	NOUN
emaj-126	32	13	of	of	ADP
emaj-126	32	14	markets	market	NOUN
emaj-126	32	15	in	in	ADP
emaj-126	32	16	which	which	PRON
emaj-126	32	17	this	this	DET
emaj-126	32	18	subject	subject	NOUN
emaj-126	32	19	has	have	AUX
emaj-126	32	20	been	be	AUX
emaj-126	32	21	investigated	investigate	VERB
emaj-126	32	22	.	.	PUNCT
emaj-126	33	1	hood	hood	PROPN
emaj-126	33	2	and	and	CCONJ
emaj-126	33	3	malik	malik	PROPN
emaj-126	33	4	(	(	PUNCT
emaj-126	33	5	2013	2013	NUM
emaj-126	33	6	)	)	PUNCT
emaj-126	33	7	focused	focus	VERB
emaj-126	33	8	on	on	ADP
emaj-126	33	9	extreme	extreme	ADJ
emaj-126	33	10	situations	situation	NOUN
emaj-126	33	11	in	in	ADP
emaj-126	33	12	the	the	DET
emaj-126	33	13	stock	stock	NOUN
emaj-126	33	14	market	market	NOUN
emaj-126	33	15	and	and	CCONJ
emaj-126	33	16	found	find	VERB
emaj-126	33	17	that	that	SCONJ
emaj-126	33	18	in	in	ADP
emaj-126	33	19	periods	period	NOUN
emaj-126	33	20	of	of	ADP
emaj-126	33	21	extremely	extremely	ADV
emaj-126	33	22	low	low	ADJ
emaj-126	33	23	or	or	CCONJ
emaj-126	33	24	high	high	ADJ
emaj-126	33	25	volatility	volatility	NOUN
emaj-126	33	26	,	,	PUNCT
emaj-126	33	27	gold	gold	NOUN
emaj-126	33	28	does	do	AUX
emaj-126	33	29	not	not	PART
emaj-126	33	30	have	have	VERB
emaj-126	33	31	a	a	DET
emaj-126	33	32	negative	negative	ADJ
emaj-126	33	33	correlation	correlation	NOUN
emaj-126	33	34	with	with	ADP
emaj-126	33	35	the	the	DET
emaj-126	33	36	u.s	u.s	PROPN
emaj-126	33	37	.	.	PROPN
emaj-126	33	38	stock	stock	NOUN
emaj-126	33	39	market	market	NOUN
emaj-126	33	40	.	.	PUNCT
emaj-126	34	1	the	the	DET
emaj-126	34	2	above	above	ADJ
emaj-126	34	3	mentioned	mention	VERB
emaj-126	34	4	studies	study	NOUN
emaj-126	34	5	,	,	PUNCT
emaj-126	34	6	use	use	VERB
emaj-126	34	7	assumptions	assumption	NOUN
emaj-126	34	8	and	and	CCONJ
emaj-126	34	9	methodologies	methodology	NOUN
emaj-126	34	10	similar	similar	ADJ
emaj-126	34	11	to	to	ADP
emaj-126	34	12	baur	baur	PROPN
emaj-126	34	13	and	and	CCONJ
emaj-126	34	14	lucey	lucey	PROPN
emaj-126	34	15	(	(	PUNCT
emaj-126	34	16	2010	2010	NUM
emaj-126	34	17	)	)	PUNCT
emaj-126	34	18	and	and	CCONJ
emaj-126	34	19	their	their	PRON
emaj-126	34	20	main	main	ADJ
emaj-126	34	21	characteristic	characteristic	NOUN
emaj-126	34	22	is	be	AUX
emaj-126	34	23	that	that	SCONJ
emaj-126	34	24	researchers	researcher	NOUN
emaj-126	34	25	directly	directly	ADV
emaj-126	34	26	set	set	VERB
emaj-126	34	27	a	a	DET
emaj-126	34	28	price	price	NOUN
emaj-126	34	29	decrease	decrease	NOUN
emaj-126	34	30	level	level	NOUN
emaj-126	34	31	defined	define	VERB
emaj-126	34	32	as	as	ADP
emaj-126	34	33	a	a	DET
emaj-126	34	34	market	market	NOUN
emaj-126	34	35	collapse	collapse	NOUN
emaj-126	34	36	and	and	CCONJ
emaj-126	34	37	they	they	PRON
emaj-126	34	38	use	use	VERB
emaj-126	34	39	this	this	DET
emaj-126	34	40	predetermined	predetermine	VERB
emaj-126	34	41	criteria	criterion	NOUN
emaj-126	34	42	for	for	ADP
emaj-126	34	43	all	all	DET
emaj-126	34	44	the	the	DET
emaj-126	34	45	markets	market	NOUN
emaj-126	34	46	under	under	ADP
emaj-126	34	47	consideration	consideration	NOUN
emaj-126	34	48	.	.	PUNCT
emaj-126	35	1	however	however	ADV
emaj-126	35	2	,	,	PUNCT
emaj-126	35	3	we	we	PRON
emaj-126	35	4	think	think	VERB
emaj-126	35	5	that	that	SCONJ
emaj-126	35	6	it	it	PRON
emaj-126	35	7	is	be	AUX
emaj-126	35	8	not	not	PART
emaj-126	35	9	appropriate	appropriate	ADJ
emaj-126	35	10	to	to	PART
emaj-126	35	11	use	use	VERB
emaj-126	35	12	the	the	DET
emaj-126	35	13	a	a	DET
emaj-126	35	14	predefined	predefine	VERB
emaj-126	35	15	criteria	criterion	NOUN
emaj-126	35	16	with	with	ADP
emaj-126	35	17	no	no	DET
emaj-126	35	18	regard	regard	NOUN
emaj-126	35	19	to	to	ADP
emaj-126	35	20	different	different	ADJ
emaj-126	35	21	markets	market	NOUN
emaj-126	35	22	charachteristics	charachteristic	NOUN
emaj-126	35	23	.	.	PUNCT
emaj-126	36	1	we	we	PRON
emaj-126	36	2	will	will	AUX
emaj-126	36	3	address	address	VERB
emaj-126	36	4	this	this	DET
emaj-126	36	5	subject	subject	NOUN
emaj-126	36	6	in	in	ADP
emaj-126	36	7	the	the	DET
emaj-126	36	8	methodology	methodology	NOUN
emaj-126	36	9	section	section	NOUN
emaj-126	36	10	of	of	ADP
emaj-126	36	11	the	the	DET
emaj-126	36	12	paper	paper	NOUN
emaj-126	36	13	.	.	PUNCT
emaj-126	37	1	other	other	ADJ
emaj-126	37	2	researchers	researcher	NOUN
emaj-126	37	3	such	such	ADJ
emaj-126	37	4	as	as	ADP
emaj-126	37	5	beckmann	beckmann	PROPN
emaj-126	37	6	et	et	PROPN
emaj-126	37	7	al	al	PROPN
emaj-126	37	8	.	.	PROPN
emaj-126	37	9	(	(	PUNCT
emaj-126	37	10	2015	2015	NUM
emaj-126	37	11	)	)	PUNCT
emaj-126	37	12	,	,	PUNCT
emaj-126	37	13	investigated	investigate	VERB
emaj-126	37	14	the	the	DET
emaj-126	37	15	role	role	NOUN
emaj-126	37	16	of	of	ADP
emaj-126	37	17	gold	gold	NOUN
emaj-126	37	18	as	as	ADP
emaj-126	37	19	a	a	DET
emaj-126	37	20	hedge	hedge	NOUN
emaj-126	37	21	or	or	CCONJ
emaj-126	37	22	safe	safe	ADJ
emaj-126	37	23	haven	haven	NOUN
emaj-126	37	24	based	base	VERB
emaj-126	37	25	on	on	ADP
emaj-126	37	26	the	the	DET
emaj-126	37	27	same	same	ADJ
emaj-126	37	28	definitions	definition	NOUN
emaj-126	37	29	,	,	PUNCT
emaj-126	37	30	but	but	CCONJ
emaj-126	37	31	through	through	ADP
emaj-126	37	32	the	the	DET
emaj-126	37	33	smooth	smooth	ADJ
emaj-126	37	34	transition	transition	NOUN
emaj-126	37	35	methodology	methodology	NOUN
emaj-126	37	36	.	.	PUNCT
emaj-126	38	1	however	however	ADV
emaj-126	38	2	,	,	PUNCT
emaj-126	38	3	they	they	PRON
emaj-126	38	4	concluded	conclude	VERB
emaj-126	38	5	that	that	SCONJ
emaj-126	38	6	the	the	DET
emaj-126	38	7	transition	transition	NOUN
emaj-126	38	8	between	between	ADP
emaj-126	38	9	the	the	DET
emaj-126	38	10	two	two	NUM
emaj-126	38	11	extreme	extreme	ADJ
emaj-126	38	12	regimes	regime	NOUN
emaj-126	38	13	appears	appear	VERB
emaj-126	38	14	to	to	PART
emaj-126	38	15	be	be	AUX
emaj-126	38	16	very	very	ADV
emaj-126	38	17	fast	fast	ADV
emaj-126	38	18	in	in	ADP
emaj-126	38	19	some	some	DET
emaj-126	38	20	cases	case	NOUN
emaj-126	38	21	.	.	PUNCT
emaj-126	39	1	besides	besides	SCONJ
emaj-126	39	2	,	,	PUNCT
emaj-126	39	3	they	they	PRON
emaj-126	39	4	used	use	VERB
emaj-126	39	5	data	datum	NOUN
emaj-126	39	6	with	with	ADP
emaj-126	39	7	monthly	monthly	ADJ
emaj-126	39	8	frequencies	frequency	NOUN
emaj-126	39	9	while	while	SCONJ
emaj-126	39	10	the	the	DET
emaj-126	39	11	studies	study	NOUN
emaj-126	39	12	of	of	ADP
emaj-126	39	13	baur	baur	PROPN
emaj-126	39	14	&	&	CCONJ
emaj-126	39	15	lucey	lucey	PROPN
emaj-126	39	16	(	(	PUNCT
emaj-126	39	17	2010	2010	NUM
emaj-126	39	18	)	)	PUNCT
emaj-126	39	19	and	and	CCONJ
emaj-126	39	20	baur	baur	PROPN
emaj-126	39	21	and	and	CCONJ
emaj-126	39	22	mcdermott	mcdermott	PROPN
emaj-126	39	23	(	(	PUNCT
emaj-126	39	24	2010	2010	NUM
emaj-126	39	25	)	)	PUNCT
emaj-126	39	26	show	show	VERB
emaj-126	39	27	that	that	SCONJ
emaj-126	39	28	the	the	DET
emaj-126	39	29	volume	volume	NOUN
emaj-126	39	30	7	7	NUM
emaj-126	39	31	no	no	DET
emaj-126	39	32	1	1	NUM
emaj-126	39	33	(	(	PUNCT
emaj-126	39	34	2017	2017	NUM
emaj-126	39	35	)	)	PUNCT
emaj-126	39	36	|	|	ADV
emaj-126	39	37	issn	issn	VERB
emaj-126	39	38	2158	2158	NUM
emaj-126	39	39	-	-	SYM
emaj-126	39	40	8708	8708	NUM
emaj-126	39	41	(	(	PUNCT
emaj-126	39	42	online	online	NOUN
emaj-126	39	43	)	)	PUNCT
emaj-126	39	44	|	|	ADV
emaj-126	39	45	doi	doi	X
emaj-126	39	46	10.5195	10.5195	NUM
emaj-126	39	47	/	/	SYM
emaj-126	39	48	emaj.2017.126	emaj.2017.126	PROPN
emaj-126	39	49	|	|	NOUN
emaj-126	39	50	http://emaj.pitt.edu	http://emaj.pitt.edu	PROPN
emaj-126	39	51	jalal	jalal	PROPN
emaj-126	39	52	seifoddini	seifoddini	PROPN
emaj-126	39	53	,	,	PUNCT
emaj-126	39	54	fraydoon	fraydoon	NOUN
emaj-126	39	55	rahnamay	rahnamay	ADV
emaj-126	39	56	roodposhti	roodposhti	VERB
emaj-126	39	57	,	,	PUNCT
emaj-126	39	58	elahe	elahe	PROPN
emaj-126	39	59	kamali	kamali	ADJ
emaj-126	39	60	emerging	emerge	VERB
emaj-126	39	61	markets	market	NOUN
emaj-126	39	62	journal	journal	NOUN
emaj-126	40	1	|	|	ADV
emaj-126	40	2	p	p	NOUN
emaj-126	40	3	a	a	DET
emaj-126	40	4	g	g	NOUN
emaj-126	40	5	e	e	PROPN
emaj-126	40	6	|18	|18	ADJ
emaj-126	40	7	gold	gold	ADJ
emaj-126	40	8	role	role	NOUN
emaj-126	40	9	as	as	ADP
emaj-126	40	10	a	a	DET
emaj-126	40	11	safe	safe	ADJ
emaj-126	40	12	haven	haven	NOUN
emaj-126	40	13	for	for	ADP
emaj-126	40	14	stock	stock	NOUN
emaj-126	40	15	market	market	NOUN
emaj-126	40	16	is	be	AUX
emaj-126	40	17	only	only	ADV
emaj-126	40	18	observed	observe	VERB
emaj-126	40	19	in	in	ADP
emaj-126	40	20	daily	daily	ADJ
emaj-126	40	21	data	datum	NOUN
emaj-126	40	22	.	.	PUNCT
emaj-126	41	1	baur	baur	PROPN
emaj-126	41	2	and	and	CCONJ
emaj-126	41	3	mcdermott	mcdermott	PROPN
emaj-126	41	4	(	(	PUNCT
emaj-126	41	5	2010	2010	NUM
emaj-126	41	6	)	)	PUNCT
emaj-126	41	7	believe	believe	VERB
emaj-126	41	8	that	that	SCONJ
emaj-126	41	9	the	the	DET
emaj-126	41	10	safe	safe	ADJ
emaj-126	41	11	haven	haven	NOUN
emaj-126	41	12	effect	effect	NOUN
emaj-126	41	13	does	do	AUX
emaj-126	41	14	not	not	PART
emaj-126	41	15	exist	exist	VERB
emaj-126	41	16	in	in	ADP
emaj-126	41	17	emerging	emerge	VERB
emaj-126	41	18	markets	market	NOUN
emaj-126	41	19	.	.	PUNCT
emaj-126	42	1	this	this	PRON
emaj-126	42	2	can	can	AUX
emaj-126	42	3	be	be	AUX
emaj-126	42	4	interpreted	interpret	VERB
emaj-126	42	5	in	in	ADP
emaj-126	42	6	this	this	DET
emaj-126	42	7	way	way	NOUN
emaj-126	42	8	that	that	PRON
emaj-126	42	9	investors	investor	NOUN
emaj-126	42	10	in	in	ADP
emaj-126	42	11	emerging	emerge	VERB
emaj-126	42	12	markets	market	NOUN
emaj-126	42	13	like	like	ADP
emaj-126	42	14	iran	iran	PROPN
emaj-126	42	15	,	,	PUNCT
emaj-126	42	16	are	be	AUX
emaj-126	42	17	not	not	PART
emaj-126	42	18	among	among	ADP
emaj-126	42	19	the	the	DET
emaj-126	42	20	main	main	ADJ
emaj-126	42	21	players	player	NOUN
emaj-126	42	22	of	of	ADP
emaj-126	42	23	the	the	DET
emaj-126	42	24	global	global	ADJ
emaj-126	42	25	gold	gold	NOUN
emaj-126	42	26	market	market	NOUN
emaj-126	42	27	and	and	CCONJ
emaj-126	42	28	their	their	PRON
emaj-126	42	29	behavior	behavior	NOUN
emaj-126	42	30	does	do	AUX
emaj-126	42	31	not	not	PART
emaj-126	42	32	influence	influence	VERB
emaj-126	42	33	the	the	DET
emaj-126	42	34	global	global	ADJ
emaj-126	42	35	price	price	NOUN
emaj-126	42	36	of	of	ADP
emaj-126	42	37	gold	gold	NOUN
emaj-126	42	38	.	.	PUNCT
emaj-126	43	1	iran	iran	PROPN
emaj-126	43	2	's	's	PART
emaj-126	43	3	demand	demand	NOUN
emaj-126	43	4	only	only	ADV
emaj-126	43	5	comprise	comprise	VERB
emaj-126	43	6	3	3	NUM
emaj-126	43	7	%	%	NOUN
emaj-126	43	8	of	of	ADP
emaj-126	43	9	the	the	DET
emaj-126	43	10	global	global	ADJ
emaj-126	43	11	gold	gold	NOUN
emaj-126	43	12	investment	investment	NOUN
emaj-126	43	13	demand	demand	NOUN
emaj-126	43	14	through	through	ADP
emaj-126	43	15	coins	coin	NOUN
emaj-126	43	16	and	and	CCONJ
emaj-126	43	17	bullions	bullion	NOUN
emaj-126	43	18	(	(	PUNCT
emaj-126	43	19	world	world	NOUN
emaj-126	43	20	gold	gold	PROPN
emaj-126	43	21	council	council	PROPN
emaj-126	43	22	2016	2016	NUM
emaj-126	43	23	)	)	PUNCT
emaj-126	43	24	.	.	PUNCT
emaj-126	44	1	thus	thus	ADV
emaj-126	44	2	,	,	PUNCT
emaj-126	44	3	the	the	DET
emaj-126	44	4	assumption	assumption	NOUN
emaj-126	44	5	that	that	SCONJ
emaj-126	44	6	iranian	iranian	ADJ
emaj-126	44	7	investors	investor	NOUN
emaj-126	44	8	behavior	behavior	NOUN
emaj-126	44	9	would	would	AUX
emaj-126	44	10	influence	influence	VERB
emaj-126	44	11	the	the	DET
emaj-126	44	12	global	global	ADJ
emaj-126	44	13	gold	gold	NOUN
emaj-126	44	14	price	price	NOUN
emaj-126	44	15	does	do	AUX
emaj-126	44	16	not	not	PART
emaj-126	44	17	seem	seem	VERB
emaj-126	44	18	reasonable	reasonable	ADJ
emaj-126	44	19	.	.	PUNCT
emaj-126	45	1	it	it	PRON
emaj-126	45	2	is	be	AUX
emaj-126	45	3	better	well	ADJ
emaj-126	45	4	to	to	PART
emaj-126	45	5	focus	focus	VERB
emaj-126	45	6	on	on	ADP
emaj-126	45	7	the	the	DET
emaj-126	45	8	domestic	domestic	ADJ
emaj-126	45	9	price	price	NOUN
emaj-126	45	10	of	of	ADP
emaj-126	45	11	gold	gold	NOUN
emaj-126	45	12	in	in	ADP
emaj-126	45	13	every	every	DET
emaj-126	45	14	country	country	NOUN
emaj-126	45	15	.	.	PUNCT
emaj-126	46	1	in	in	ADP
emaj-126	46	2	this	this	DET
emaj-126	46	3	regard	regard	NOUN
emaj-126	46	4	,	,	PUNCT
emaj-126	46	5	beckmann	beckmann	PROPN
emaj-126	46	6	et	et	PROPN
emaj-126	46	7	al	al	PROPN
emaj-126	46	8	.	.	PROPN
emaj-126	47	1	(	(	PUNCT
emaj-126	47	2	2015	2015	NUM
emaj-126	47	3	)	)	PUNCT
emaj-126	47	4	converted	convert	VERB
emaj-126	47	5	the	the	DET
emaj-126	47	6	global	global	ADJ
emaj-126	47	7	gold	gold	NOUN
emaj-126	47	8	price	price	NOUN
emaj-126	47	9	from	from	ADP
emaj-126	47	10	u.s	u.s	PROPN
emaj-126	47	11	.	.	PROPN
emaj-126	47	12	dollar	dollar	NOUN
emaj-126	47	13	to	to	ADP
emaj-126	47	14	the	the	DET
emaj-126	47	15	national	national	ADJ
emaj-126	47	16	currency	currency	NOUN
emaj-126	47	17	of	of	ADP
emaj-126	47	18	each	each	DET
emaj-126	47	19	country	country	NOUN
emaj-126	47	20	under	under	ADP
emaj-126	47	21	consideration	consideration	NOUN
emaj-126	47	22	.	.	PUNCT
emaj-126	48	1	however	however	ADV
emaj-126	48	2	,	,	PUNCT
emaj-126	48	3	this	this	PRON
emaj-126	48	4	is	be	AUX
emaj-126	48	5	not	not	PART
emaj-126	48	6	enough	enough	ADJ
emaj-126	48	7	,	,	PUNCT
emaj-126	48	8	because	because	SCONJ
emaj-126	48	9	changes	change	NOUN
emaj-126	48	10	in	in	ADP
emaj-126	48	11	the	the	DET
emaj-126	48	12	domestic	domestic	ADJ
emaj-126	48	13	gold	gold	NOUN
emaj-126	48	14	price	price	NOUN
emaj-126	48	15	can	can	AUX
emaj-126	48	16	be	be	AUX
emaj-126	48	17	due	due	ADJ
emaj-126	48	18	to	to	PART
emaj-126	48	19	exchange	exchange	VERB
emaj-126	48	20	rate	rate	NOUN
emaj-126	48	21	fluctuations	fluctuation	NOUN
emaj-126	48	22	.	.	PUNCT
emaj-126	49	1	beckmann	beckmann	PROPN
emaj-126	49	2	et	et	PROPN
emaj-126	49	3	al	al	PROPN
emaj-126	49	4	.	.	PROPN
emaj-126	50	1	(	(	PUNCT
emaj-126	50	2	2015	2015	NUM
emaj-126	50	3	)	)	PUNCT
emaj-126	50	4	admited	admit	VERB
emaj-126	50	5	this	this	DET
emaj-126	50	6	problem	problem	NOUN
emaj-126	50	7	,	,	PUNCT
emaj-126	50	8	but	but	CCONJ
emaj-126	50	9	ignored	ignore	VERB
emaj-126	50	10	it	it	PRON
emaj-126	50	11	.	.	PUNCT
emaj-126	51	1	iqbal	iqbal	PROPN
emaj-126	51	2	(	(	PUNCT
emaj-126	51	3	2017	2017	NUM
emaj-126	51	4	)	)	PUNCT
emaj-126	51	5	in	in	ADP
emaj-126	51	6	his	his	PRON
emaj-126	51	7	model	model	NOUN
emaj-126	51	8	for	for	ADP
emaj-126	51	9	investigating	investigate	VERB
emaj-126	51	10	the	the	DET
emaj-126	51	11	relationship	relationship	NOUN
emaj-126	51	12	between	between	ADP
emaj-126	51	13	gold	gold	NOUN
emaj-126	51	14	and	and	CCONJ
emaj-126	51	15	stock	stock	NOUN
emaj-126	51	16	market	market	NOUN
emaj-126	51	17	also	also	ADV
emaj-126	51	18	converted	convert	VERB
emaj-126	51	19	the	the	DET
emaj-126	51	20	global	global	ADJ
emaj-126	51	21	gold	gold	NOUN
emaj-126	51	22	price	price	NOUN
emaj-126	51	23	into	into	ADP
emaj-126	51	24	india	india	PROPN
emaj-126	51	25	and	and	CCONJ
emaj-126	51	26	pakistan	pakistan	PROPN
emaj-126	51	27	currencies	currency	NOUN
emaj-126	51	28	without	without	ADP
emaj-126	51	29	considering	consider	VERB
emaj-126	51	30	the	the	DET
emaj-126	51	31	effects	effect	NOUN
emaj-126	51	32	of	of	ADP
emaj-126	51	33	exchange	exchange	NOUN
emaj-126	51	34	rate	rate	NOUN
emaj-126	51	35	changes	change	NOUN
emaj-126	51	36	.	.	PUNCT
emaj-126	52	1	but	but	CCONJ
emaj-126	52	2	in	in	ADP
emaj-126	52	3	the	the	DET
emaj-126	52	4	present	present	ADJ
emaj-126	52	5	research	research	NOUN
emaj-126	52	6	,	,	PUNCT
emaj-126	52	7	in	in	ADP
emaj-126	52	8	order	order	NOUN
emaj-126	52	9	to	to	PART
emaj-126	52	10	resolve	resolve	VERB
emaj-126	52	11	this	this	DET
emaj-126	52	12	issue	issue	NOUN
emaj-126	52	13	,	,	PUNCT
emaj-126	52	14	we	we	PRON
emaj-126	52	15	will	will	AUX
emaj-126	52	16	consider	consider	VERB
emaj-126	52	17	the	the	DET
emaj-126	52	18	global	global	ADJ
emaj-126	52	19	gold	gold	NOUN
emaj-126	52	20	price	price	NOUN
emaj-126	52	21	and	and	CCONJ
emaj-126	52	22	exchange	exchange	NOUN
emaj-126	52	23	rate	rate	NOUN
emaj-126	52	24	as	as	ADP
emaj-126	52	25	other	other	ADJ
emaj-126	52	26	factors	factor	NOUN
emaj-126	52	27	influencing	influence	VERB
emaj-126	52	28	the	the	DET
emaj-126	52	29	relationship	relationship	NOUN
emaj-126	52	30	between	between	ADP
emaj-126	52	31	the	the	DET
emaj-126	52	32	domestic	domestic	ADJ
emaj-126	52	33	gold	gold	NOUN
emaj-126	52	34	price	price	NOUN
emaj-126	52	35	and	and	CCONJ
emaj-126	52	36	stock	stock	NOUN
emaj-126	52	37	market	market	NOUN
emaj-126	52	38	in	in	ADP
emaj-126	52	39	iran	iran	PROPN
emaj-126	52	40	.	.	PUNCT
emaj-126	53	1	because	because	SCONJ
emaj-126	53	2	according	accord	VERB
emaj-126	53	3	to	to	ADP
emaj-126	53	4	samadi	samadi	PROPN
emaj-126	53	5	et	et	PROPN
emaj-126	53	6	al	al	PROPN
emaj-126	53	7	.	.	PROPN
emaj-126	53	8	(	(	PUNCT
emaj-126	53	9	2015	2015	NUM
emaj-126	53	10	)	)	PUNCT
emaj-126	53	11	,	,	PUNCT
emaj-126	53	12	iran	iran	PROPN
emaj-126	53	13	's	's	PART
emaj-126	53	14	currency	currency	NOUN
emaj-126	53	15	exchange	exchange	NOUN
emaj-126	53	16	rate	rate	NOUN
emaj-126	53	17	against	against	ADP
emaj-126	53	18	u.s	u.s	PROPN
emaj-126	53	19	.	.	PROPN
emaj-126	53	20	dollar	dollar	NOUN
emaj-126	53	21	and	and	CCONJ
emaj-126	53	22	global	global	ADJ
emaj-126	53	23	gold	gold	NOUN
emaj-126	53	24	prices	price	NOUN
emaj-126	53	25	fluctuations	fluctuation	NOUN
emaj-126	53	26	have	have	VERB
emaj-126	53	27	a	a	DET
emaj-126	53	28	significant	significant	ADJ
emaj-126	53	29	effect	effect	NOUN
emaj-126	53	30	on	on	ADP
emaj-126	53	31	iran	iran	PROPN
emaj-126	53	32	's	's	PART
emaj-126	53	33	domestic	domestic	ADJ
emaj-126	53	34	gold	gold	NOUN
emaj-126	53	35	coins	coin	NOUN
emaj-126	53	36	prices	price	NOUN
emaj-126	53	37	.	.	PUNCT
emaj-126	54	1	their	their	PRON
emaj-126	54	2	relationships	relationship	NOUN
emaj-126	54	3	are	be	AUX
emaj-126	54	4	especially	especially	ADV
emaj-126	54	5	stronger	strong	ADJ
emaj-126	54	6	in	in	ADP
emaj-126	54	7	the	the	DET
emaj-126	54	8	long	long	ADJ
emaj-126	54	9	term	term	NOUN
emaj-126	54	10	than	than	ADP
emaj-126	54	11	in	in	ADP
emaj-126	54	12	the	the	DET
emaj-126	54	13	short	short	ADJ
emaj-126	54	14	term	term	NOUN
emaj-126	54	15	.	.	PUNCT
emaj-126	55	1	accordingly	accordingly	ADV
emaj-126	55	2	,	,	PUNCT
emaj-126	55	3	in	in	ADP
emaj-126	55	4	this	this	DET
emaj-126	55	5	paper	paper	NOUN
emaj-126	55	6	,	,	PUNCT
emaj-126	55	7	these	these	DET
emaj-126	55	8	two	two	NUM
emaj-126	55	9	factors	factor	NOUN
emaj-126	55	10	are	be	AUX
emaj-126	55	11	considered	consider	VERB
emaj-126	55	12	in	in	ADP
emaj-126	55	13	investigating	investigate	VERB
emaj-126	55	14	the	the	DET
emaj-126	55	15	relationship	relationship	NOUN
emaj-126	55	16	between	between	ADP
emaj-126	55	17	iran	iran	PROPN
emaj-126	55	18	's	's	PART
emaj-126	55	19	stock	stock	NOUN
emaj-126	55	20	market	market	NOUN
emaj-126	55	21	and	and	CCONJ
emaj-126	55	22	domestic	domestic	ADJ
emaj-126	55	23	gold	gold	NOUN
emaj-126	55	24	coins	coin	NOUN
emaj-126	55	25	prices	price	NOUN
emaj-126	55	26	.	.	PUNCT
emaj-126	56	1	kaffash	kaffash	PROPN
emaj-126	56	2	hosseini	hosseini	PROPN
emaj-126	56	3	and	and	CCONJ
emaj-126	56	4	rostami	rostami	PROPN
emaj-126	56	5	(	(	PUNCT
emaj-126	56	6	2013	2013	NUM
emaj-126	56	7	)	)	PUNCT
emaj-126	56	8	investigated	investigate	VERB
emaj-126	56	9	this	this	DET
emaj-126	56	10	subject	subject	NOUN
emaj-126	56	11	based	base	VERB
emaj-126	56	12	on	on	ADP
emaj-126	56	13	baur	baur	PROPN
emaj-126	56	14	and	and	CCONJ
emaj-126	56	15	lucey	lucey	PROPN
emaj-126	56	16	's	's	PART
emaj-126	56	17	(	(	PUNCT
emaj-126	56	18	2010	2010	NUM
emaj-126	56	19	)	)	PUNCT
emaj-126	56	20	and	and	CCONJ
emaj-126	56	21	baur	baur	PROPN
emaj-126	56	22	and	and	CCONJ
emaj-126	56	23	mcdermott	mcdermott	PROPN
emaj-126	56	24	's	's	PART
emaj-126	56	25	(	(	PUNCT
emaj-126	56	26	2010	2010	NUM
emaj-126	56	27	)	)	PUNCT
emaj-126	56	28	model	model	NOUN
emaj-126	56	29	though	though	SCONJ
emaj-126	56	30	they	they	PRON
emaj-126	56	31	did	do	AUX
emaj-126	56	32	not	not	PART
emaj-126	56	33	consider	consider	VERB
emaj-126	56	34	other	other	ADJ
emaj-126	56	35	factors	factor	NOUN
emaj-126	56	36	influencing	influence	VERB
emaj-126	56	37	the	the	DET
emaj-126	56	38	relationship	relationship	NOUN
emaj-126	56	39	between	between	ADP
emaj-126	56	40	gold	gold	NOUN
emaj-126	56	41	and	and	CCONJ
emaj-126	56	42	stock	stock	NOUN
emaj-126	56	43	market	market	NOUN
emaj-126	56	44	.	.	PUNCT
emaj-126	57	1	3	3	X
emaj-126	57	2	.	.	X
emaj-126	57	3	research	research	NOUN
emaj-126	57	4	methdology	methdology	NOUN
emaj-126	57	5	baur	baur	NOUN
emaj-126	57	6	and	and	CCONJ
emaj-126	57	7	lucey	lucey	PROPN
emaj-126	57	8	(	(	PUNCT
emaj-126	57	9	2010	2010	NUM
emaj-126	57	10	)	)	PUNCT
emaj-126	57	11	,	,	PUNCT
emaj-126	57	12	baur	baur	NOUN
emaj-126	57	13	and	and	CCONJ
emaj-126	57	14	mcdermott	mcdermott	PROPN
emaj-126	57	15	(	(	PUNCT
emaj-126	57	16	2010	2010	NUM
emaj-126	57	17	)	)	PUNCT
emaj-126	57	18	,	,	PUNCT
emaj-126	57	19	hood	hood	NOUN
emaj-126	57	20	and	and	CCONJ
emaj-126	57	21	malik	malik	PROPN
emaj-126	57	22	(	(	PUNCT
emaj-126	57	23	2013	2013	NUM
emaj-126	57	24	)	)	PUNCT
emaj-126	57	25	,	,	PUNCT
emaj-126	57	26	lucey	lucey	PROPN
emaj-126	57	27	and	and	CCONJ
emaj-126	57	28	li	li	PROPN
emaj-126	57	29	(	(	PUNCT
emaj-126	57	30	2015	2015	NUM
emaj-126	57	31	)	)	PUNCT
emaj-126	57	32	and	and	CCONJ
emaj-126	57	33	iqbal	iqbal	PROPN
emaj-126	57	34	(	(	PUNCT
emaj-126	57	35	2017	2017	NUM
emaj-126	57	36	)	)	PUNCT
emaj-126	57	37	manually	manually	ADV
emaj-126	57	38	classified	classify	VERB
emaj-126	57	39	stock	stock	NOUN
emaj-126	57	40	market	market	NOUN
emaj-126	57	41	returns	return	NOUN
emaj-126	57	42	into	into	ADP
emaj-126	57	43	categories	category	NOUN
emaj-126	57	44	based	base	VERB
emaj-126	57	45	on	on	ADP
emaj-126	57	46	a	a	DET
emaj-126	57	47	rule	rule	NOUN
emaj-126	57	48	of	of	ADP
emaj-126	57	49	thumb	thumb	NOUN
emaj-126	57	50	(	(	PUNCT
emaj-126	57	51	e.g.	e.g.	ADV
emaj-126	57	52	5	5	NUM
emaj-126	57	53	%	%	NOUN
emaj-126	57	54	,	,	PUNCT
emaj-126	57	55	2.5	2.5	NUM
emaj-126	57	56	%	%	NOUN
emaj-126	57	57	and	and	CCONJ
emaj-126	57	58	1	1	NUM
emaj-126	57	59	%	%	NOUN
emaj-126	57	60	quantiles	quantile	NOUN
emaj-126	57	61	)	)	PUNCT
emaj-126	57	62	and	and	CCONJ
emaj-126	57	63	distinguished	distinguish	VERB
emaj-126	57	64	the	the	DET
emaj-126	57	65	relationship	relationship	NOUN
emaj-126	57	66	between	between	ADP
emaj-126	57	67	stock	stock	NOUN
emaj-126	57	68	market	market	NOUN
emaj-126	57	69	returns	return	NOUN
emaj-126	57	70	and	and	CCONJ
emaj-126	57	71	gold	gold	NOUN
emaj-126	57	72	price	price	NOUN
emaj-126	57	73	returns	return	NOUN
emaj-126	57	74	when	when	SCONJ
emaj-126	57	75	the	the	DET
emaj-126	57	76	stock	stock	NOUN
emaj-126	57	77	market	market	NOUN
emaj-126	57	78	return	return	NOUN
emaj-126	57	79	was	be	AUX
emaj-126	57	80	at	at	ADP
emaj-126	57	81	each	each	PRON
emaj-126	57	82	of	of	ADP
emaj-126	57	83	these	these	DET
emaj-126	57	84	categories	category	NOUN
emaj-126	57	85	.	.	PUNCT
emaj-126	58	1	however	however	ADV
emaj-126	58	2	,	,	PUNCT
emaj-126	58	3	using	use	VERB
emaj-126	58	4	the	the	DET
emaj-126	58	5	same	same	ADJ
emaj-126	58	6	rule	rule	NOUN
emaj-126	58	7	of	of	ADP
emaj-126	58	8	thumb	thumb	NOUN
emaj-126	58	9	for	for	ADP
emaj-126	58	10	all	all	DET
emaj-126	58	11	markets	market	NOUN
emaj-126	58	12	can	can	AUX
emaj-126	58	13	not	not	PART
emaj-126	58	14	be	be	AUX
emaj-126	58	15	appropriate	appropriate	ADJ
emaj-126	58	16	and	and	CCONJ
emaj-126	58	17	may	may	AUX
emaj-126	58	18	lead	lead	VERB
emaj-126	58	19	to	to	ADP
emaj-126	58	20	incorrect	incorrect	ADJ
emaj-126	58	21	results	result	NOUN
emaj-126	58	22	,	,	PUNCT
emaj-126	58	23	because	because	SCONJ
emaj-126	58	24	every	every	DET
emaj-126	58	25	market	market	NOUN
emaj-126	58	26	has	have	VERB
emaj-126	58	27	different	different	ADJ
emaj-126	58	28	microstructure	microstructure	NOUN
emaj-126	58	29	.	.	PUNCT
emaj-126	59	1	therefore	therefore	ADV
emaj-126	59	2	in	in	ADP
emaj-126	59	3	the	the	DET
emaj-126	59	4	present	present	ADJ
emaj-126	59	5	research	research	NOUN
emaj-126	59	6	,	,	PUNCT
emaj-126	59	7	we	we	PRON
emaj-126	59	8	use	use	VERB
emaj-126	59	9	a	a	DET
emaj-126	59	10	model	model	NOUN
emaj-126	59	11	that	that	PRON
emaj-126	59	12	makes	make	VERB
emaj-126	59	13	it	it	PRON
emaj-126	59	14	possible	possible	ADJ
emaj-126	59	15	to	to	PART
emaj-126	59	16	identify	identify	VERB
emaj-126	59	17	the	the	DET
emaj-126	59	18	existence	existence	NOUN
emaj-126	59	19	of	of	ADP
emaj-126	59	20	different	different	ADJ
emaj-126	59	21	regimes	regime	NOUN
emaj-126	59	22	based	base	VERB
emaj-126	59	23	on	on	ADP
emaj-126	59	24	the	the	DET
emaj-126	59	25	data	data	NOUN
emaj-126	59	26	characteristics	characteristic	NOUN
emaj-126	59	27	that	that	PRON
emaj-126	59	28	are	be	AUX
emaj-126	59	29	derived	derive	VERB
emaj-126	59	30	from	from	ADP
emaj-126	59	31	different	different	ADJ
emaj-126	59	32	markets	market	NOUN
emaj-126	59	33	.	.	PUNCT
emaj-126	60	1	these	these	DET
emaj-126	60	2	kind	kind	NOUN
emaj-126	60	3	of	of	ADP
emaj-126	60	4	models	model	NOUN
emaj-126	60	5	are	be	AUX
emaj-126	60	6	known	know	VERB
emaj-126	60	7	as	as	ADP
emaj-126	60	8	regime	regime	NOUN
emaj-126	60	9	switching	switching	NOUN
emaj-126	60	10	models	model	NOUN
emaj-126	60	11	which	which	PRON
emaj-126	60	12	estimate	estimate	VERB
emaj-126	60	13	the	the	DET
emaj-126	60	14	relations	relation	NOUN
emaj-126	60	15	between	between	ADP
emaj-126	60	16	variables	variable	NOUN
emaj-126	60	17	in	in	ADP
emaj-126	60	18	different	different	ADJ
emaj-126	60	19	regimes	regime	NOUN
emaj-126	60	20	.	.	PUNCT
emaj-126	61	1	in	in	ADP
emaj-126	61	2	these	these	DET
emaj-126	61	3	models	model	NOUN
emaj-126	61	4	,	,	PUNCT
emaj-126	61	5	the	the	DET
emaj-126	61	6	relations	relation	NOUN
emaj-126	61	7	between	between	ADP
emaj-126	61	8	the	the	DET
emaj-126	61	9	variables	variable	NOUN
emaj-126	61	10	is	be	AUX
emaj-126	61	11	nonlinear	nonlinear	ADJ
emaj-126	61	12	and	and	CCONJ
emaj-126	61	13	the	the	DET
emaj-126	61	14	advantage	advantage	NOUN
emaj-126	61	15	of	of	ADP
emaj-126	61	16	these	these	DET
emaj-126	61	17	models	model	NOUN
emaj-126	61	18	is	be	AUX
emaj-126	61	19	in	in	ADP
emaj-126	61	20	their	their	PRON
emaj-126	61	21	flexibility	flexibility	NOUN
emaj-126	61	22	which	which	PRON
emaj-126	61	23	provides	provide	VERB
emaj-126	61	24	the	the	DET
emaj-126	61	25	possibility	possibility	NOUN
emaj-126	61	26	to	to	PART
emaj-126	61	27	consider	consider	VERB
emaj-126	61	28	different	different	ADJ
emaj-126	61	29	means	mean	NOUN
emaj-126	61	30	and	and	CCONJ
emaj-126	61	31	variances	variance	NOUN
emaj-126	61	32	in	in	ADP
emaj-126	61	33	different	different	ADJ
emaj-126	61	34	regimes	regime	NOUN
emaj-126	61	35	.	.	PUNCT
emaj-126	62	1	two	two	NUM
emaj-126	62	2	main	main	ADJ
emaj-126	62	3	categories	category	NOUN
emaj-126	62	4	of	of	ADP
emaj-126	62	5	regime	regime	NOUN
emaj-126	62	6	switching	switching	NOUN
emaj-126	62	7	models	model	NOUN
emaj-126	62	8	include	include	VERB
emaj-126	62	9	the	the	DET
emaj-126	62	10	markov	markov	NOUN
emaj-126	62	11	regime	regime	NOUN
emaj-126	62	12	switching	switch	VERB
emaj-126	62	13	and	and	CCONJ
emaj-126	62	14	threshold	threshold	NOUN
emaj-126	62	15	regime	regime	NOUN
emaj-126	62	16	switching	switching	NOUN
emaj-126	62	17	models	model	NOUN
emaj-126	62	18	.	.	PUNCT
emaj-126	63	1	the	the	DET
emaj-126	63	2	markov	markov	NOUN
emaj-126	63	3	regime	regime	NOUN
emaj-126	63	4	switching	switch	VERB
emaj-126	63	5	model	model	NOUN
emaj-126	63	6	is	be	AUX
emaj-126	63	7	useful	useful	ADJ
emaj-126	63	8	for	for	ADP
emaj-126	63	9	cases	case	NOUN
emaj-126	63	10	where	where	SCONJ
emaj-126	63	11	the	the	DET
emaj-126	63	12	factor	factor	NOUN
emaj-126	63	13	causing	cause	VERB
emaj-126	63	14	the	the	DET
emaj-126	63	15	regime	regime	NOUN
emaj-126	63	16	switching	switch	VERB
emaj-126	63	17	is	be	AUX
emaj-126	63	18	not	not	PART
emaj-126	63	19	visible	visible	ADJ
emaj-126	63	20	.	.	PUNCT
emaj-126	64	1	but	but	CCONJ
emaj-126	64	2	in	in	ADP
emaj-126	64	3	threshold	threshold	NOUN
emaj-126	64	4	regression	regression	NOUN
emaj-126	64	5	(	(	PUNCT
emaj-126	64	6	tr	tr	NOUN
emaj-126	64	7	)	)	PUNCT
emaj-126	64	8	models	model	NOUN
emaj-126	64	9	,	,	PUNCT
emaj-126	64	10	it	it	PRON
emaj-126	64	11	is	be	AUX
emaj-126	64	12	assumed	assume	VERB
emaj-126	64	13	that	that	SCONJ
emaj-126	64	14	the	the	DET
emaj-126	64	15	variable	variable	NOUN
emaj-126	64	16	determining	determine	VERB
emaj-126	64	17	the	the	DET
emaj-126	64	18	regime	regime	NOUN
emaj-126	64	19	changes	change	NOUN
emaj-126	64	20	is	be	AUX
emaj-126	64	21	visible	visible	ADJ
emaj-126	64	22	(	(	PUNCT
emaj-126	64	23	gonzalo	gonzalo	PROPN
emaj-126	64	24	and	and	CCONJ
emaj-126	64	25	pitarakis	pitarakis	PROPN
emaj-126	64	26	2013	2013	NUM
emaj-126	64	27	)	)	PUNCT
emaj-126	64	28	.	.	PUNCT
emaj-126	65	1	in	in	ADP
emaj-126	65	2	this	this	DET
emaj-126	65	3	research	research	NOUN
emaj-126	65	4	,	,	PUNCT
emaj-126	65	5	since	since	SCONJ
emaj-126	65	6	the	the	DET
emaj-126	65	7	value	value	NOUN
emaj-126	65	8	of	of	ADP
emaj-126	65	9	the	the	DET
emaj-126	65	10	variable	variable	NOUN
emaj-126	65	11	determining	determine	VERB
emaj-126	65	12	the	the	DET
emaj-126	65	13	regime	regime	NOUN
emaj-126	65	14	is	be	AUX
emaj-126	65	15	important	important	ADJ
emaj-126	65	16	for	for	ADP
emaj-126	65	17	us	we	PRON
emaj-126	65	18	,	,	PUNCT
emaj-126	65	19	we	we	PRON
emaj-126	65	20	will	will	AUX
emaj-126	65	21	use	use	VERB
emaj-126	65	22	the	the	DET
emaj-126	65	23	tr	tr	NOUN
emaj-126	65	24	model	model	NOUN
emaj-126	65	25	to	to	PART
emaj-126	65	26	see	see	VERB
emaj-126	65	27	whether	whether	SCONJ
emaj-126	65	28	a	a	DET
emaj-126	65	29	regime	regime	NOUN
emaj-126	65	30	switching	switch	VERB
emaj-126	65	31	has	have	AUX
emaj-126	65	32	occurred	occur	VERB
emaj-126	65	33	in	in	ADP
emaj-126	65	34	the	the	DET
emaj-126	65	35	gold	gold	NOUN
emaj-126	65	36	-	-	PUNCT
emaj-126	65	37	stock	stock	NOUN
emaj-126	65	38	market	market	NOUN
emaj-126	65	39	relationship	relationship	NOUN
emaj-126	65	40	or	or	CCONJ
emaj-126	65	41	not	not	PART
emaj-126	65	42	.	.	PUNCT
emaj-126	66	1	one	one	NUM
emaj-126	66	2	of	of	ADP
emaj-126	66	3	the	the	DET
emaj-126	66	4	advantages	advantage	NOUN
emaj-126	66	5	of	of	ADP
emaj-126	66	6	the	the	DET
emaj-126	66	7	tr	tr	NOUN
emaj-126	66	8	model	model	NOUN
emaj-126	66	9	is	be	AUX
emaj-126	66	10	that	that	SCONJ
emaj-126	66	11	without	without	ADP
emaj-126	66	12	using	use	VERB
emaj-126	66	13	the	the	DET
emaj-126	66	14	rule	rule	NOUN
emaj-126	66	15	of	of	ADP
emaj-126	66	16	thumb	thumb	NOUN
emaj-126	66	17	,	,	PUNCT
emaj-126	66	18	it	it	PRON
emaj-126	66	19	is	be	AUX
emaj-126	66	20	possible	possible	ADJ
emaj-126	66	21	to	to	PART
emaj-126	66	22	determine	determine	VERB
emaj-126	66	23	the	the	DET
emaj-126	66	24	number	number	NOUN
emaj-126	66	25	of	of	ADP
emaj-126	66	26	existing	exist	VERB
emaj-126	66	27	regimes	regime	NOUN
emaj-126	66	28	in	in	ADP
emaj-126	66	29	a	a	DET
emaj-126	66	30	way	way	NOUN
emaj-126	66	31	that	that	PRON
emaj-126	66	32	the	the	DET
emaj-126	66	33	f	f	NOUN
emaj-126	66	34	-	-	PUNCT
emaj-126	66	35	statistics	statistic	NOUN
emaj-126	66	36	of	of	ADP
emaj-126	66	37	the	the	DET
emaj-126	66	38	regression	regression	NOUN
emaj-126	66	39	is	be	AUX
emaj-126	66	40	maximized	maximize	VERB
emaj-126	66	41	.	.	PUNCT
emaj-126	67	1	therefore	therefore	ADV
emaj-126	67	2	,	,	PUNCT
emaj-126	67	3	the	the	DET
emaj-126	67	4	model	model	NOUN
emaj-126	67	5	used	use	VERB
emaj-126	67	6	for	for	ADP
emaj-126	67	7	iran	iran	PROPN
emaj-126	67	8	's	's	PART
emaj-126	67	9	market	market	NOUN
emaj-126	67	10	will	will	AUX
emaj-126	67	11	be	be	AUX
emaj-126	67	12	as	as	SCONJ
emaj-126	67	13	follows	follow	VERB
emaj-126	67	14	.	.	PUNCT
emaj-126	68	1	later	later	ADV
emaj-126	68	2	,	,	PUNCT
emaj-126	68	3	by	by	ADP
emaj-126	68	4	making	make	VERB
emaj-126	68	5	some	some	DET
emaj-126	68	6	changes	change	NOUN
emaj-126	68	7	in	in	ADP
emaj-126	68	8	the	the	DET
emaj-126	68	9	model	model	NOUN
emaj-126	68	10	,	,	PUNCT
emaj-126	68	11	we	we	PRON
emaj-126	68	12	will	will	AUX
emaj-126	68	13	also	also	ADV
emaj-126	68	14	present	present	VERB
emaj-126	68	15	the	the	DET
emaj-126	68	16	u.s	u.s	PROPN
emaj-126	68	17	.	.	PROPN
emaj-126	68	18	market	market	NOUN
emaj-126	68	19	model	model	NOUN
emaj-126	68	20	.	.	PUNCT
emaj-126	69	1	moreover	moreover	ADV
emaj-126	69	2	,	,	PUNCT
emaj-126	69	3	after	after	ADP
emaj-126	69	4	analyzing	analyze	VERB
emaj-126	69	5	the	the	DET
emaj-126	69	6	data	datum	NOUN
emaj-126	69	7	series	series	NOUN
emaj-126	69	8	,	,	PUNCT
emaj-126	69	9	it	it	PRON
emaj-126	69	10	is	be	AUX
emaj-126	69	11	possible	possible	ADJ
emaj-126	69	12	to	to	PART
emaj-126	69	13	adjust	adjust	VERB
emaj-126	69	14	the	the	DET
emaj-126	69	15	model	model	NOUN
emaj-126	69	16	and	and	CCONJ
emaj-126	69	17	change	change	VERB
emaj-126	69	18	it	it	PRON
emaj-126	69	19	from	from	ADP
emaj-126	69	20	a	a	DET
emaj-126	69	21	static	static	ADJ
emaj-126	69	22	model	model	NOUN
emaj-126	69	23	to	to	ADP
emaj-126	69	24	a	a	DET
emaj-126	69	25	dynamic	dynamic	ADJ
emaj-126	69	26	model	model	NOUN
emaj-126	69	27	and	and	CCONJ
emaj-126	69	28	we	we	PRON
emaj-126	69	29	will	will	AUX
emaj-126	69	30	do	do	VERB
emaj-126	69	31	this	this	PRON
emaj-126	69	32	in	in	ADP
emaj-126	69	33	the	the	DET
emaj-126	69	34	next	next	ADJ
emaj-126	69	35	section	section	NOUN
emaj-126	69	36	after	after	SCONJ
emaj-126	69	37	we	we	PRON
emaj-126	69	38	describe	describe	VERB
emaj-126	69	39	our	our	PRON
emaj-126	69	40	data	datum	NOUN
emaj-126	69	41	.	.	PUNCT
emaj-126	70	1	now	now	ADV
emaj-126	70	2	as	as	ADP
emaj-126	70	3	a	a	DET
emaj-126	70	4	primary	primary	ADJ
emaj-126	70	5	model	model	NOUN
emaj-126	70	6	,	,	PUNCT
emaj-126	70	7	if	if	SCONJ
emaj-126	70	8	we	we	PRON
emaj-126	70	9	consider	consider	VERB
emaj-126	70	10	iran	iran	PROPN
emaj-126	70	11	stock	stock	NOUN
emaj-126	70	12	market	market	NOUN
emaj-126	70	13	return	return	NOUN
emaj-126	70	14	imrt	imrt	NOUN
emaj-126	70	15	as	as	ADP
emaj-126	70	16	the	the	DET
emaj-126	70	17	threshold	threshold	NOUN
emaj-126	70	18	variable	variable	NOUN
emaj-126	70	19	with	with	ADP
emaj-126	70	20	j=0	j=0	PROPN
emaj-126	70	21	,	,	PUNCT
emaj-126	70	22	1	1	NUM
emaj-126	70	23	,	,	PUNCT
emaj-126	70	24	…	…	PUNCT
emaj-126	70	25	m	m	NOUN
emaj-126	70	26	regimes	regime	NOUN
emaj-126	70	27	,	,	PUNCT
emaj-126	70	28	we	we	PRON
emaj-126	70	29	will	will	AUX
emaj-126	70	30	have	have	VERB
emaj-126	70	31	the	the	DET
emaj-126	70	32	following	following	ADJ
emaj-126	70	33	model	model	NOUN
emaj-126	70	34	:	:	PUNCT
emaj-126	70	35	(	(	PUNCT
emaj-126	70	36	1	1	X
emaj-126	70	37	)	)	PUNCT
emaj-126	70	38	where	where	SCONJ
emaj-126	70	39	gct	gct	PROPN
emaj-126	70	40	:	:	PUNCT
emaj-126	70	41	domestic	domestic	ADJ
emaj-126	70	42	gold	gold	NOUN
emaj-126	70	43	coins	coin	NOUN
emaj-126	70	44	returns	return	NOUN
emaj-126	70	45	in	in	ADP
emaj-126	70	46	iran	iran	PROPN
emaj-126	70	47	got	get	VERB
emaj-126	70	48	:	:	PUNCT
emaj-126	70	49	global	global	ADJ
emaj-126	70	50	gold	gold	NOUN
emaj-126	70	51	returns	return	NOUN
emaj-126	70	52	usdt	usdt	NOUN
emaj-126	70	53	:	:	PUNCT
emaj-126	70	54	u.s	u.s	PROPN
emaj-126	70	55	.	.	PROPN
emaj-126	70	56	dollar	dollar	NOUN
emaj-126	70	57	to	to	ADP
emaj-126	70	58	iran	iran	PROPN
emaj-126	70	59	’s	’s	PART
emaj-126	70	60	rial	rial	ADJ
emaj-126	70	61	exchange	exchange	NOUN
emaj-126	70	62	rate	rate	NOUN
emaj-126	70	63	αi	αi	NOUN
emaj-126	70	64	:	:	PUNCT
emaj-126	70	65	coefficients	coefficient	NOUN
emaj-126	70	66	of	of	ADP
emaj-126	70	67	regime	regime	NOUN
emaj-126	70	68	-	-	PUNCT
emaj-126	70	69	independent	independent	ADJ
emaj-126	70	70	variables	variable	NOUN
emaj-126	70	71	βj	βj	PRON
emaj-126	70	72	:	:	PUNCT
emaj-126	70	73	coefficients	coefficient	NOUN
emaj-126	70	74	of	of	ADP
emaj-126	70	75	regime	regime	NOUN
emaj-126	70	76	-	-	PUNCT
emaj-126	70	77	dependent	dependent	ADJ
emaj-126	70	78	variables	variable	NOUN
emaj-126	70	79	so	so	ADV
emaj-126	70	80	,	,	PUNCT
emaj-126	70	81	if	if	SCONJ
emaj-126	70	82	imrt	imrt	NOUN
emaj-126	70	83	is	be	AUX
emaj-126	70	84	the	the	DET
emaj-126	70	85	regime	regime	NOUN
emaj-126	70	86	determinant	determinant	ADJ
emaj-126	70	87	variable	variable	NOUN
emaj-126	70	88	,	,	PUNCT
emaj-126	70	89	its	its	PRON
emaj-126	70	90	threshold	threshold	NOUN
emaj-126	70	91	values	value	NOUN
emaj-126	70	92	will	will	AUX
emaj-126	70	93	be	be	AUX
emaj-126	70	94	as	as	ADP
emaj-126	70	95	(	(	PUNCT
emaj-126	70	96	γ1	γ1	PROPN
emaj-126	70	97	<	<	X
emaj-126	70	98	γ2	γ2	PROPN
emaj-126	70	99	<	<	X
emaj-126	70	100	…	…	PUNCT
emaj-126	70	101	<	<	X
emaj-126	70	102	γm	γm	X
emaj-126	70	103	)	)	PUNCT
emaj-126	70	104	and	and	CCONJ
emaj-126	70	105	we	we	PRON
emaj-126	70	106	will	will	AUX
emaj-126	70	107	be	be	AUX
emaj-126	70	108	in	in	ADP
emaj-126	70	109	j	j	PROPN
emaj-126	70	110	regime	regime	NOUN
emaj-126	70	111	if	if	SCONJ
emaj-126	70	112	:	:	PUNCT
emaj-126	70	113	γj	γj	ADP
emaj-126	70	114	≤	≤	NUM
emaj-126	70	115	imrt	imrt	NOUN
emaj-126	70	116	<	<	X
emaj-126	70	117	γj+1	γj+1	PROPN
emaj-126	70	118	.	.	PUNCT
emaj-126	71	1	here	here	ADV
emaj-126	71	2	,	,	PUNCT
emaj-126	71	3	γj‌	γj‌	PROPN
emaj-126	71	4	are	be	AUX
emaj-126	71	5	different	different	ADJ
emaj-126	71	6	stock	stock	NOUN
emaj-126	71	7	market	market	NOUN
emaj-126	71	8	returns	return	NOUN
emaj-126	71	9	and	and	CCONJ
emaj-126	71	10	therefore	therefore	ADV
emaj-126	71	11	based	base	VERB
emaj-126	71	12	on	on	ADP
emaj-126	71	13	the	the	DET
emaj-126	71	14	number	number	NOUN
emaj-126	71	15	of	of	ADP
emaj-126	71	16	determined	determined	ADJ
emaj-126	71	17	thresholds	threshold	NOUN
emaj-126	71	18	,	,	PUNCT
emaj-126	71	19	we	we	PRON
emaj-126	71	20	will	will	AUX
emaj-126	71	21	have	have	VERB
emaj-126	71	22	a	a	DET
emaj-126	71	23	range	range	NOUN
emaj-126	71	24	of	of	ADP
emaj-126	71	25	regimes	regime	NOUN
emaj-126	71	26	from	from	ADP
emaj-126	71	27	a	a	DET
emaj-126	71	28	very	very	ADV
emaj-126	71	29	negative	negative	ADJ
emaj-126	71	30	market	market	NOUN
emaj-126	71	31	regime	regime	NOUN
emaj-126	71	32	to	to	ADP
emaj-126	71	33	a	a	DET
emaj-126	71	34	very	very	ADV
emaj-126	71	35	positive	positive	ADJ
emaj-126	71	36	one	one	NOUN
emaj-126	71	37	.	.	PUNCT
emaj-126	72	1	therefore	therefore	ADV
emaj-126	72	2	,	,	PUNCT
emaj-126	72	3	based	base	VERB
emaj-126	72	4	on	on	ADP
emaj-126	72	5	equation	equation	NOUN
emaj-126	72	6	(	(	PUNCT
emaj-126	72	7	1	1	X
emaj-126	72	8	)	)	PUNCT
emaj-126	72	9	we	we	PRON
emaj-126	72	10	can	can	AUX
emaj-126	72	11	investigate	investigate	VERB
emaj-126	72	12	the	the	DET
emaj-126	72	13	relationship	relationship	NOUN
emaj-126	72	14	of	of	ADP
emaj-126	72	15	gold	gold	ADJ
emaj-126	72	16	coin	coin	NOUN
emaj-126	72	17	returns	return	NOUN
emaj-126	72	18	with	with	ADP
emaj-126	72	19	iran	iran	PROPN
emaj-126	72	20	stock	stock	NOUN
emaj-126	72	21	market	market	NOUN
emaj-126	72	22	returns	return	NOUN
emaj-126	72	23	,	,	PUNCT
emaj-126	72	24	global	global	ADJ
emaj-126	72	25	gold	gold	NOUN
emaj-126	72	26	returns	return	NOUN
emaj-126	72	27	and	and	CCONJ
emaj-126	72	28	exchange	exchange	NOUN
emaj-126	72	29	rates	rate	NOUN
emaj-126	72	30	in	in	ADP
emaj-126	72	31	different	different	ADJ
emaj-126	72	32	regimes	regime	NOUN
emaj-126	72	33	of	of	ADP
emaj-126	72	34	the	the	DET
emaj-126	72	35	stock	stock	NOUN
emaj-126	72	36	market	market	NOUN
emaj-126	72	37	.	.	PUNCT
emaj-126	73	1	if	if	SCONJ
emaj-126	73	2	like	like	INTJ
emaj-126	73	3	baur	baur	NOUN
emaj-126	73	4	and	and	CCONJ
emaj-126	73	5	lucey	lucey	PROPN
emaj-126	73	6	(	(	PUNCT
emaj-126	73	7	2010	2010	NUM
emaj-126	73	8	)	)	PUNCT
emaj-126	73	9	and	and	CCONJ
emaj-126	73	10	baur	baur	PROPN
emaj-126	73	11	and	and	CCONJ
emaj-126	73	12	mcdermott	mcdermott	PROPN
emaj-126	73	13	(	(	PUNCT
emaj-126	73	14	2010	2010	NUM
emaj-126	73	15	)	)	PUNCT
emaj-126	73	16	,	,	PUNCT
emaj-126	73	17	we	we	PRON
emaj-126	73	18	manually	manually	ADV
emaj-126	73	19	determine	determine	VERB
emaj-126	73	20	these	these	DET
emaj-126	73	21	regimes	regime	NOUN
emaj-126	73	22	,	,	PUNCT
emaj-126	73	23	for	for	ADP
emaj-126	73	24	example	example	NOUN
emaj-126	73	25	if	if	SCONJ
emaj-126	73	26	we	we	PRON
emaj-126	73	27	consider	consider	VERB
emaj-126	73	28	two	two	NUM
emaj-126	73	29	regimes	regime	NOUN
emaj-126	73	30	of	of	ADP
emaj-126	73	31	a	a	DET
emaj-126	73	32	negative	negative	ADJ
emaj-126	73	33	market	market	NOUN
emaj-126	73	34	(	(	PUNCT
emaj-126	73	35	less	less	ADJ
emaj-126	73	36	than	than	ADP
emaj-126	73	37	zero	zero	NUM
emaj-126	73	38	return	return	NOUN
emaj-126	73	39	)	)	PUNCT
emaj-126	73	40	and	and	CCONJ
emaj-126	73	41	a	a	DET
emaj-126	73	42	positive	positive	ADJ
emaj-126	73	43	market	market	NOUN
emaj-126	73	44	(	(	PUNCT
emaj-126	73	45	j=1,2	j=1,2	ADJ
emaj-126	73	46	and	and	CCONJ
emaj-126	73	47	γ1=0	γ1=0	PROPN
emaj-126	73	48	)	)	PUNCT
emaj-126	73	49	,	,	PUNCT
emaj-126	73	50	then	then	ADV
emaj-126	73	51	our	our	PRON
emaj-126	73	52	model	model	NOUN
emaj-126	73	53	will	will	AUX
emaj-126	73	54	be	be	AUX
emaj-126	73	55	as	as	SCONJ
emaj-126	73	56	follows	follow	VERB
emaj-126	73	57	:	:	PUNCT
emaj-126	73	58	volume	volume	NOUN
emaj-126	73	59	7	7	NUM
emaj-126	73	60	no	no	DET
emaj-126	73	61	1	1	NUM
emaj-126	73	62	(	(	PUNCT
emaj-126	73	63	2017	2017	NUM
emaj-126	73	64	)	)	PUNCT
emaj-126	73	65	|	|	ADV
emaj-126	73	66	issn	issn	VERB
emaj-126	73	67	2158	2158	NUM
emaj-126	73	68	-	-	SYM
emaj-126	73	69	8708	8708	NUM
emaj-126	73	70	(	(	PUNCT
emaj-126	73	71	online	online	NOUN
emaj-126	73	72	)	)	PUNCT
emaj-126	73	73	|	|	ADV
emaj-126	73	74	doi	doi	X
emaj-126	73	75	10.5195	10.5195	NUM
emaj-126	73	76	/	/	SYM
emaj-126	73	77	emaj.2017.126	emaj.2017.126	PROPN
emaj-126	73	78	|	|	NOUN
emaj-126	73	79	http://emaj.pitt.edu	http://emaj.pitt.edu	VERB
emaj-126	73	80	gold	gold	NOUN
emaj-126	73	81	-	-	PUNCT
emaj-126	73	82	stock	stock	NOUN
emaj-126	73	83	market	market	NOUN
emaj-126	73	84	relationship	relationship	NOUN
emaj-126	73	85	:	:	PUNCT
emaj-126	73	86	emerging	emerge	VERB
emaj-126	73	87	markets	market	NOUN
emaj-126	73	88	versus	versus	ADP
emaj-126	73	89	developed	develop	VERB
emaj-126	73	90	markets	market	NOUN
emaj-126	73	91	page	page	NOUN
emaj-126	73	92	|19|	|19|	NOUN
emaj-126	73	93	emerging	emerge	VERB
emaj-126	73	94	markets	market	NOUN
emaj-126	73	95	journal	journal	NOUN
emaj-126	73	96	if	if	SCONJ
emaj-126	73	97	-∞	-∞	PROPN
emaj-126	73	98	<	<	X
emaj-126	73	99	imrt	imrt	NOUN
emaj-126	73	100	<	<	X
emaj-126	73	101	γ1	γ1	PROPN
emaj-126	73	102	if	if	SCONJ
emaj-126	73	103	γ1	γ1	PROPN
emaj-126	73	104	≤	≤	PROPN
emaj-126	73	105	imrt	imrt	NOUN
emaj-126	73	106	<	<	X
emaj-126	73	107	∞	∞	PROPN
emaj-126	73	108	(	(	PUNCT
emaj-126	73	109	2	2	NUM
emaj-126	73	110	)	)	PUNCT
emaj-126	73	111	now	now	ADV
emaj-126	73	112	,	,	PUNCT
emaj-126	73	113	by	by	ADP
emaj-126	73	114	defining	define	VERB
emaj-126	73	115	a	a	DET
emaj-126	73	116	regime	regime	NOUN
emaj-126	73	117	determination	determination	NOUN
emaj-126	73	118	function	function	NOUN
emaj-126	73	119	lj(imrt	lj(imrt	PROPN
emaj-126	73	120	,	,	PUNCT
emaj-126	73	121	γj)=lj(γj≤imrt	γj)=lj(γj≤imrt	PROPN
emaj-126	73	122	<	<	NOUN
emaj-126	73	123	γj+1	γj+1	NUM
emaj-126	73	124	)	)	PUNCT
emaj-126	73	125	,	,	PUNCT
emaj-126	73	126	whose	whose	DET
emaj-126	73	127	value	value	NOUN
emaj-126	73	128	equals	equal	VERB
emaj-126	73	129	1	1	NUM
emaj-126	73	130	when	when	SCONJ
emaj-126	73	131	the	the	DET
emaj-126	73	132	regime	regime	NOUN
emaj-126	73	133	determining	determine	VERB
emaj-126	73	134	variable	variable	NOUN
emaj-126	73	135	is	be	AUX
emaj-126	73	136	within	within	ADP
emaj-126	73	137	the	the	DET
emaj-126	73	138	range	range	NOUN
emaj-126	73	139	of	of	ADP
emaj-126	73	140	the	the	DET
emaj-126	73	141	chosen	choose	VERB
emaj-126	73	142	threshold	threshold	NOUN
emaj-126	73	143	and	and	CCONJ
emaj-126	73	144	equals	equal	VERB
emaj-126	73	145	0	0	PUNCT
emaj-126	73	146	when	when	SCONJ
emaj-126	73	147	its	its	PRON
emaj-126	73	148	value	value	NOUN
emaj-126	73	149	is	be	AUX
emaj-126	73	150	outside	outside	ADP
emaj-126	73	151	that	that	DET
emaj-126	73	152	threshold	threshold	NOUN
emaj-126	73	153	,	,	PUNCT
emaj-126	73	154	we	we	PRON
emaj-126	73	155	can	can	AUX
emaj-126	73	156	combine	combine	VERB
emaj-126	73	157	the	the	DET
emaj-126	73	158	above	above	ADJ
emaj-126	73	159	two	two	NUM
emaj-126	73	160	equations	equation	NOUN
emaj-126	73	161	and	and	CCONJ
emaj-126	73	162	we	we	PRON
emaj-126	73	163	will	will	AUX
emaj-126	73	164	have	have	VERB
emaj-126	73	165	:	:	PUNCT
emaj-126	73	166	(	(	PUNCT
emaj-126	73	167	3	3	X
emaj-126	73	168	)	)	PUNCT
emaj-126	73	169	since	since	SCONJ
emaj-126	73	170	we	we	PRON
emaj-126	73	171	manually	manually	ADV
emaj-126	73	172	determined	determine	VERB
emaj-126	73	173	the	the	DET
emaj-126	73	174	number	number	NOUN
emaj-126	73	175	of	of	ADP
emaj-126	73	176	regimes	regime	NOUN
emaj-126	73	177	(	(	PUNCT
emaj-126	73	178	j=1,2	j=1,2	ADJ
emaj-126	73	179	)	)	PUNCT
emaj-126	73	180	and	and	CCONJ
emaj-126	73	181	threshold	threshold	NOUN
emaj-126	73	182	values	value	NOUN
emaj-126	73	183	(	(	PUNCT
emaj-126	73	184	γ1=0	γ1=0	PROPN
emaj-126	73	185	)	)	PUNCT
emaj-126	73	186	,	,	PUNCT
emaj-126	73	187	we	we	PRON
emaj-126	73	188	only	only	ADV
emaj-126	73	189	have	have	VERB
emaj-126	73	190	to	to	PART
emaj-126	73	191	estimate	estimate	VERB
emaj-126	73	192	the	the	DET
emaj-126	73	193	values	value	NOUN
emaj-126	73	194	of	of	ADP
emaj-126	73	195	αi	αi	NOUN
emaj-126	73	196	and	and	CCONJ
emaj-126	73	197	βj	βj	X
emaj-126	73	198	in	in	ADP
emaj-126	73	199	equation	equation	NOUN
emaj-126	73	200	(	(	PUNCT
emaj-126	73	201	3	3	NUM
emaj-126	73	202	)	)	PUNCT
emaj-126	73	203	.	.	PUNCT
emaj-126	74	1	however	however	ADV
emaj-126	74	2	,	,	PUNCT
emaj-126	74	3	in	in	ADP
emaj-126	74	4	order	order	NOUN
emaj-126	74	5	to	to	PART
emaj-126	74	6	avoid	avoid	VERB
emaj-126	74	7	manually	manually	ADV
emaj-126	74	8	applying	apply	VERB
emaj-126	74	9	the	the	DET
emaj-126	74	10	regimes	regime	NOUN
emaj-126	74	11	,	,	PUNCT
emaj-126	74	12	we	we	PRON
emaj-126	74	13	must	must	AUX
emaj-126	74	14	consider	consider	VERB
emaj-126	74	15	the	the	DET
emaj-126	74	16	number	number	NOUN
emaj-126	74	17	of	of	ADP
emaj-126	74	18	the	the	DET
emaj-126	74	19	regimes	regime	NOUN
emaj-126	74	20	and	and	CCONJ
emaj-126	74	21	their	their	PRON
emaj-126	74	22	subsequent	subsequent	ADJ
emaj-126	74	23	γ	γ	PROPN
emaj-126	74	24	values	value	NOUN
emaj-126	74	25	as	as	ADP
emaj-126	74	26	unknown	unknown	ADJ
emaj-126	74	27	,	,	PUNCT
emaj-126	74	28	therefore	therefore	ADV
emaj-126	74	29	we	we	PRON
emaj-126	74	30	will	will	AUX
emaj-126	74	31	have	have	VERB
emaj-126	74	32	the	the	DET
emaj-126	74	33	following	following	ADJ
emaj-126	74	34	model	model	NOUN
emaj-126	74	35	:	:	PUNCT
emaj-126	74	36	(	(	PUNCT
emaj-126	74	37	4	4	X
emaj-126	74	38	)	)	PUNCT
emaj-126	74	39	where	where	SCONJ
emaj-126	74	40	,	,	PUNCT
emaj-126	74	41	we	we	PRON
emaj-126	74	42	have	have	VERB
emaj-126	74	43	to	to	PART
emaj-126	74	44	estimate	estimate	VERB
emaj-126	74	45	the	the	DET
emaj-126	74	46	values	value	NOUN
emaj-126	74	47	of	of	ADP
emaj-126	74	48	γj	γj	NOUN
emaj-126	74	49	,	,	PUNCT
emaj-126	74	50	αi	αi	NOUN
emaj-126	74	51	and	and	CCONJ
emaj-126	74	52	βj	βj	NOUN
emaj-126	74	53	.	.	PUNCT
emaj-126	75	1	a	a	DET
emaj-126	75	2	common	common	ADJ
emaj-126	75	3	method	method	NOUN
emaj-126	75	4	to	to	PART
emaj-126	75	5	do	do	VERB
emaj-126	75	6	so	so	ADV
emaj-126	75	7	is	be	AUX
emaj-126	75	8	to	to	PART
emaj-126	75	9	use	use	VERB
emaj-126	75	10	nonlinear	nonlinear	ADJ
emaj-126	75	11	least	least	ADJ
emaj-126	75	12	squares	square	NOUN
emaj-126	75	13	.	.	PUNCT
emaj-126	76	1	therefore	therefore	ADV
emaj-126	76	2	,	,	PUNCT
emaj-126	76	3	if	if	SCONJ
emaj-126	76	4	we	we	PRON
emaj-126	76	5	define	define	VERB
emaj-126	76	6	the	the	DET
emaj-126	76	7	following	follow	VERB
emaj-126	76	8	sum	sum	NOUN
emaj-126	76	9	-	-	PUNCT
emaj-126	76	10	ofsquared	ofsquare	VERB
emaj-126	76	11	residuals	residual	NOUN
emaj-126	76	12	(	(	PUNCT
emaj-126	76	13	ssr	ssr	ADJ
emaj-126	76	14	)	)	PUNCT
emaj-126	76	15	function	function	NOUN
emaj-126	76	16	:	:	PUNCT
emaj-126	76	17	=	=	NOUN
emaj-126	76	18	1	1	NUM
emaj-126	76	19	,	,	PUNCT
emaj-126	76	20	2	2	NUM
emaj-126	76	21	(	(	PUNCT
emaj-126	76	22	5	5	NUM
emaj-126	76	23	)	)	PUNCT
emaj-126	76	24	by	by	ADP
emaj-126	76	25	minimizing	minimize	VERB
emaj-126	76	26	with	with	ADP
emaj-126	76	27	respect	respect	NOUN
emaj-126	76	28	to	to	ADP
emaj-126	76	29	the	the	DET
emaj-126	76	30	sample	sample	NOUN
emaj-126	76	31	data	datum	NOUN
emaj-126	76	32	in	in	ADP
emaj-126	76	33	the	the	DET
emaj-126	76	34	time	time	NOUN
emaj-126	76	35	period	period	NOUN
emaj-126	76	36	of	of	ADP
emaj-126	76	37	(	(	PUNCT
emaj-126	76	38	t=1,	t=1,	PROPN
emaj-126	76	39	…	…	PROPN
emaj-126	76	40	..	..	PROPN
emaj-126	76	41	t	t	PROPN
emaj-126	76	42	)	)	PUNCT
emaj-126	76	43	,	,	PUNCT
emaj-126	76	44	we	we	PRON
emaj-126	76	45	can	can	AUX
emaj-126	76	46	obtain	obtain	VERB
emaj-126	76	47	the	the	DET
emaj-126	76	48	different	different	ADJ
emaj-126	76	49	regimes	regime	NOUN
emaj-126	76	50	.	.	PUNCT
emaj-126	77	1	now	now	ADV
emaj-126	77	2	,	,	PUNCT
emaj-126	77	3	to	to	PART
emaj-126	77	4	determine	determine	VERB
emaj-126	77	5	the	the	DET
emaj-126	77	6	regimes	regime	NOUN
emaj-126	77	7	based	base	VERB
emaj-126	77	8	on	on	ADP
emaj-126	77	9	our	our	PRON
emaj-126	77	10	data	datum	NOUN
emaj-126	77	11	,	,	PUNCT
emaj-126	77	12	it	it	PRON
emaj-126	77	13	is	be	AUX
emaj-126	77	14	possible	possible	ADJ
emaj-126	77	15	to	to	PART
emaj-126	77	16	use	use	VERB
emaj-126	77	17	three	three	NUM
emaj-126	77	18	methods	method	NOUN
emaj-126	77	19	:	:	PUNCT
emaj-126	77	20	in	in	ADP
emaj-126	77	21	the	the	DET
emaj-126	77	22	first	first	ADJ
emaj-126	77	23	method	method	NOUN
emaj-126	77	24	called	call	VERB
emaj-126	77	25	the	the	DET
emaj-126	77	26	global	global	ADJ
emaj-126	77	27	estimation	estimation	NOUN
emaj-126	77	28	of	of	ADP
emaj-126	77	29	thresholds	thresholds	PROPN
emaj-126	77	30	,	,	PUNCT
emaj-126	77	31	ssrs	ssr	NOUN
emaj-126	77	32	are	be	AUX
emaj-126	77	33	compared	compare	VERB
emaj-126	77	34	for	for	ADP
emaj-126	77	35	all	all	DET
emaj-126	77	36	possible	possible	ADJ
emaj-126	77	37	sets	set	NOUN
emaj-126	77	38	of	of	ADP
emaj-126	77	39	thresholds	threshold	NOUN
emaj-126	77	40	to	to	PART
emaj-126	77	41	find	find	VERB
emaj-126	77	42	a	a	DET
emaj-126	77	43	possible	possible	ADJ
emaj-126	77	44	set	set	NOUN
emaj-126	77	45	that	that	PRON
emaj-126	77	46	minimizes	minimize	VERB
emaj-126	77	47	the	the	DET
emaj-126	77	48	ssr	ssr	NOUN
emaj-126	77	49	of	of	ADP
emaj-126	77	50	equation	equation	NOUN
emaj-126	77	51	(	(	PUNCT
emaj-126	77	52	4	4	NUM
emaj-126	77	53	)	)	PUNCT
emaj-126	77	54	.	.	PUNCT
emaj-126	78	1	in	in	ADP
emaj-126	78	2	the	the	DET
emaj-126	78	3	second	second	ADJ
emaj-126	78	4	method	method	NOUN
emaj-126	78	5	,	,	PUNCT
emaj-126	78	6	called	call	VERB
emaj-126	78	7	sequential	sequential	ADJ
emaj-126	78	8	estimation	estimation	NOUN
emaj-126	78	9	of	of	ADP
emaj-126	78	10	thresholds	threshold	NOUN
emaj-126	78	11	,	,	PUNCT
emaj-126	78	12	first	first	ADV
emaj-126	78	13	,	,	PUNCT
emaj-126	78	14	a	a	DET
emaj-126	78	15	value	value	NOUN
emaj-126	78	16	will	will	AUX
emaj-126	78	17	be	be	AUX
emaj-126	78	18	obtained	obtain	VERB
emaj-126	78	19	as	as	ADP
emaj-126	78	20	a	a	DET
emaj-126	78	21	primary	primary	ADJ
emaj-126	78	22	threshold	threshold	NOUN
emaj-126	78	23	,	,	PUNCT
emaj-126	78	24	which	which	PRON
emaj-126	78	25	minimizes	minimize	VERB
emaj-126	78	26	the	the	DET
emaj-126	78	27	ssr	ssr	NOUN
emaj-126	78	28	,	,	PUNCT
emaj-126	78	29	next	next	ADV
emaj-126	78	30	,	,	PUNCT
emaj-126	78	31	by	by	ADP
emaj-126	78	32	moving	move	VERB
emaj-126	78	33	from	from	ADP
emaj-126	78	34	this	this	DET
emaj-126	78	35	value	value	NOUN
emaj-126	78	36	,	,	PUNCT
emaj-126	78	37	other	other	ADJ
emaj-126	78	38	possible	possible	ADJ
emaj-126	78	39	thresholds	threshold	NOUN
emaj-126	78	40	will	will	AUX
emaj-126	78	41	be	be	AUX
emaj-126	78	42	discovered	discover	VERB
emaj-126	78	43	that	that	SCONJ
emaj-126	78	44	decrease	decrease	VERB
emaj-126	78	45	the	the	DET
emaj-126	78	46	ssr	ssr	NOUN
emaj-126	78	47	.	.	PUNCT
emaj-126	79	1	the	the	DET
emaj-126	79	2	third	third	ADJ
emaj-126	79	3	method	method	NOUN
emaj-126	79	4	is	be	AUX
emaj-126	79	5	actually	actually	ADV
emaj-126	79	6	a	a	DET
emaj-126	79	7	combination	combination	NOUN
emaj-126	79	8	and	and	CCONJ
emaj-126	79	9	comparison	comparison	NOUN
emaj-126	79	10	of	of	ADP
emaj-126	79	11	the	the	DET
emaj-126	79	12	two	two	NUM
emaj-126	79	13	global	global	ADJ
emaj-126	79	14	and	and	CCONJ
emaj-126	79	15	sequential	sequential	ADJ
emaj-126	79	16	methods	method	NOUN
emaj-126	79	17	.	.	PUNCT
emaj-126	80	1	in	in	ADP
emaj-126	80	2	the	the	DET
emaj-126	80	3	present	present	ADJ
emaj-126	80	4	research	research	NOUN
emaj-126	80	5	,	,	PUNCT
emaj-126	80	6	we	we	PRON
emaj-126	80	7	will	will	AUX
emaj-126	80	8	use	use	VERB
emaj-126	80	9	all	all	DET
emaj-126	80	10	three	three	NUM
emaj-126	80	11	estimation	estimation	NOUN
emaj-126	80	12	methods	method	NOUN
emaj-126	80	13	based	base	VERB
emaj-126	80	14	on	on	ADP
emaj-126	80	15	the	the	DET
emaj-126	80	16	approach	approach	NOUN
emaj-126	80	17	provided	provide	VERB
emaj-126	80	18	by	by	ADP
emaj-126	80	19	bai	bai	PROPN
emaj-126	80	20	&	&	CCONJ
emaj-126	80	21	perron	perron	PROPN
emaj-126	80	22	(	(	PUNCT
emaj-126	80	23	2003	2003	NUM
emaj-126	80	24	)	)	PUNCT
emaj-126	80	25	.	.	PUNCT
emaj-126	81	1	the	the	DET
emaj-126	81	2	primary	primary	ADJ
emaj-126	81	3	model	model	NOUN
emaj-126	81	4	for	for	ADP
emaj-126	81	5	the	the	DET
emaj-126	81	6	u.s	u.s	PROPN
emaj-126	81	7	.	.	PROPN
emaj-126	81	8	market	market	NOUN
emaj-126	81	9	,	,	PUNCT
emaj-126	81	10	given	give	VERB
emaj-126	81	11	that	that	SCONJ
emaj-126	81	12	the	the	DET
emaj-126	81	13	prices	price	NOUN
emaj-126	81	14	in	in	ADP
emaj-126	81	15	u.s	u.s	PROPN
emaj-126	81	16	market	market	NOUN
emaj-126	81	17	are	be	AUX
emaj-126	81	18	denominated	denominate	VERB
emaj-126	81	19	in	in	ADP
emaj-126	81	20	u.s	u.s	PROPN
emaj-126	81	21	.	.	PROPN
emaj-126	81	22	dollar	dollar	NOUN
emaj-126	81	23	and	and	CCONJ
emaj-126	81	24	the	the	DET
emaj-126	81	25	u.s	u.s	PROPN
emaj-126	81	26	.	.	PROPN
emaj-126	81	27	is	be	AUX
emaj-126	81	28	considered	consider	VERB
emaj-126	81	29	a	a	DET
emaj-126	81	30	developed	developed	ADJ
emaj-126	81	31	market	market	NOUN
emaj-126	81	32	,	,	PUNCT
emaj-126	81	33	is	be	AUX
emaj-126	81	34	now	now	ADV
emaj-126	81	35	specified	specify	VERB
emaj-126	81	36	as	as	ADP
emaj-126	81	37	:	:	PUNCT
emaj-126	81	38	(	(	PUNCT
emaj-126	81	39	6	6	NUM
emaj-126	81	40	)	)	PUNCT
emaj-126	81	41	where	where	SCONJ
emaj-126	81	42	umrt	umrt	ADJ
emaj-126	81	43	:	:	PUNCT
emaj-126	81	44	u.s	u.s	PROPN
emaj-126	81	45	.	.	PROPN
emaj-126	81	46	stock	stock	NOUN
emaj-126	81	47	market	market	NOUN
emaj-126	81	48	returns	return	NOUN
emaj-126	81	49	got	get	VERB
emaj-126	81	50	:	:	PUNCT
emaj-126	81	51	global	global	ADJ
emaj-126	81	52	gold	gold	NOUN
emaj-126	81	53	returns	return	NOUN
emaj-126	81	54	αi	αi	NOUN
emaj-126	81	55	:	:	PUNCT
emaj-126	81	56	coefficients	coefficient	NOUN
emaj-126	81	57	of	of	ADP
emaj-126	81	58	regime	regime	NOUN
emaj-126	81	59	-	-	PUNCT
emaj-126	81	60	independent	independent	ADJ
emaj-126	81	61	variables	variable	NOUN
emaj-126	81	62	βj	βj	PRON
emaj-126	81	63	:	:	PUNCT
emaj-126	81	64	coefficients	coefficient	NOUN
emaj-126	81	65	of	of	ADP
emaj-126	81	66	regime	regime	NOUN
emaj-126	81	67	-	-	PUNCT
emaj-126	81	68	dependent	dependent	ADJ
emaj-126	81	69	variables	variable	NOUN
emaj-126	81	70	4	4	NUM
emaj-126	81	71	.	.	PUNCT
emaj-126	81	72	data	datum	NOUN
emaj-126	81	73	and	and	CCONJ
emaj-126	81	74	findings	finding	NOUN
emaj-126	81	75	we	we	PRON
emaj-126	81	76	collected	collect	VERB
emaj-126	81	77	daily	daily	ADJ
emaj-126	81	78	data	datum	NOUN
emaj-126	81	79	on	on	ADP
emaj-126	81	80	iran	iran	PROPN
emaj-126	81	81	’s	’s	PART
emaj-126	81	82	domestic	domestic	ADJ
emaj-126	81	83	gold	gold	NOUN
emaj-126	81	84	spot	spot	NOUN
emaj-126	81	85	prices	price	NOUN
emaj-126	81	86	,	,	PUNCT
emaj-126	81	87	iran	iran	PROPN
emaj-126	81	88	stock	stock	PROPN
emaj-126	81	89	market	market	PROPN
emaj-126	81	90	index	index	PROPN
emaj-126	81	91	,	,	PUNCT
emaj-126	81	92	u.s	u.s	PROPN
emaj-126	81	93	.	.	PROPN
emaj-126	81	94	dollar	dollar	PROPN
emaj-126	81	95	/	/	SYM
emaj-126	81	96	iran	iran	PROPN
emaj-126	81	97	’s	’s	PART
emaj-126	81	98	rial	rial	ADJ
emaj-126	81	99	exchange	exchange	NOUN
emaj-126	81	100	rates	rate	NOUN
emaj-126	81	101	(	(	PUNCT
emaj-126	81	102	usd	usd	NOUN
emaj-126	81	103	/	/	SYM
emaj-126	81	104	irr	irr	NOUN
emaj-126	81	105	)	)	PUNCT
emaj-126	81	106	,	,	PUNCT
emaj-126	81	107	global	global	ADJ
emaj-126	81	108	gold	gold	NOUN
emaj-126	81	109	spot	spot	NOUN
emaj-126	81	110	prices	price	NOUN
emaj-126	81	111	and	and	CCONJ
emaj-126	81	112	u.s	u.s	PROPN
emaj-126	81	113	stock	stock	NOUN
emaj-126	81	114	market	market	NOUN
emaj-126	81	115	index	index	NOUN
emaj-126	81	116	for	for	ADP
emaj-126	81	117	this	this	DET
emaj-126	81	118	study	study	NOUN
emaj-126	81	119	.	.	PUNCT
emaj-126	82	1	data	datum	NOUN
emaj-126	82	2	on	on	ADP
emaj-126	82	3	iran	iran	PROPN
emaj-126	82	4	are	be	AUX
emaj-126	82	5	obtained	obtain	VERB
emaj-126	82	6	from	from	ADP
emaj-126	82	7	rahavard	rahavard	ADJ
emaj-126	82	8	noin	noin	PROPN
emaj-126	82	9	database	database	NOUN
emaj-126	82	10	and	and	CCONJ
emaj-126	82	11	data	datum	NOUN
emaj-126	82	12	on	on	ADP
emaj-126	82	13	global	global	ADJ
emaj-126	82	14	gold	gold	NOUN
emaj-126	82	15	price	price	NOUN
emaj-126	82	16	and	and	CCONJ
emaj-126	82	17	the	the	DET
emaj-126	82	18	u.s	u.s	PROPN
emaj-126	82	19	stock	stock	PROPN
emaj-126	82	20	market	market	NOUN
emaj-126	82	21	index	index	NOUN
emaj-126	82	22	are	be	AUX
emaj-126	82	23	obtained	obtain	VERB
emaj-126	82	24	from	from	ADP
emaj-126	82	25	quandl	quandl	NOUN
emaj-126	82	26	database	database	NOUN
emaj-126	82	27	.	.	PUNCT
emaj-126	83	1	we	we	PRON
emaj-126	83	2	used	use	VERB
emaj-126	83	3	tedpix	tedpix	NOUN
emaj-126	83	4	as	as	ADP
emaj-126	83	5	an	an	DET
emaj-126	83	6	index	index	NOUN
emaj-126	83	7	of	of	ADP
emaj-126	83	8	iran	iran	PROPN
emaj-126	83	9	stock	stock	NOUN
emaj-126	83	10	market	market	NOUN
emaj-126	83	11	,	,	PUNCT
emaj-126	83	12	bahar	bahar	PROPN
emaj-126	83	13	azadi	azadi	PROPN
emaj-126	83	14	gold	gold	NOUN
emaj-126	83	15	coins	coin	NOUN
emaj-126	83	16	prices	price	NOUN
emaj-126	83	17	as	as	ADP
emaj-126	83	18	a	a	DET
emaj-126	83	19	measure	measure	NOUN
emaj-126	83	20	of	of	ADP
emaj-126	83	21	the	the	DET
emaj-126	83	22	domestic	domestic	ADJ
emaj-126	83	23	gold	gold	NOUN
emaj-126	83	24	prices	price	NOUN
emaj-126	83	25	in	in	ADP
emaj-126	83	26	iran	iran	PROPN
emaj-126	83	27	,	,	PUNCT
emaj-126	83	28	and	and	CCONJ
emaj-126	83	29	s&p500	s&p500	NOUN
emaj-126	83	30	index	index	NOUN
emaj-126	83	31	as	as	ADP
emaj-126	83	32	an	an	DET
emaj-126	83	33	index	index	NOUN
emaj-126	83	34	of	of	ADP
emaj-126	83	35	u.s	u.s	PROPN
emaj-126	83	36	.	.	PROPN
emaj-126	83	37	stock	stock	NOUN
emaj-126	83	38	market	market	NOUN
emaj-126	83	39	.	.	PUNCT
emaj-126	84	1	our	our	PRON
emaj-126	84	2	sample	sample	NOUN
emaj-126	84	3	covers	cover	VERB
emaj-126	84	4	the	the	DET
emaj-126	84	5	period	period	NOUN
emaj-126	84	6	from	from	ADP
emaj-126	84	7	dec	dec	PROPN
emaj-126	84	8	2013	2013	NUM
emaj-126	84	9	to	to	ADP
emaj-126	84	10	dec	dec	PROPN
emaj-126	84	11	2016	2016	NUM
emaj-126	84	12	.	.	PUNCT
emaj-126	85	1	we	we	PRON
emaj-126	85	2	chose	choose	VERB
emaj-126	85	3	this	this	DET
emaj-126	85	4	period	period	NOUN
emaj-126	85	5	to	to	PART
emaj-126	85	6	make	make	VERB
emaj-126	85	7	sure	sure	ADJ
emaj-126	85	8	that	that	SCONJ
emaj-126	85	9	,	,	PUNCT
emaj-126	85	10	during	during	ADP
emaj-126	85	11	this	this	DET
emaj-126	85	12	period	period	NOUN
emaj-126	85	13	,	,	PUNCT
emaj-126	85	14	no	no	DET
emaj-126	85	15	significant	significant	ADJ
emaj-126	85	16	structural	structural	ADJ
emaj-126	85	17	changes	change	NOUN
emaj-126	85	18	have	have	AUX
emaj-126	85	19	occurred	occur	VERB
emaj-126	85	20	in	in	ADP
emaj-126	85	21	the	the	DET
emaj-126	85	22	general	general	ADJ
emaj-126	85	23	economic	economic	ADJ
emaj-126	85	24	system	system	NOUN
emaj-126	85	25	of	of	ADP
emaj-126	85	26	iran	iran	PROPN
emaj-126	85	27	and	and	CCONJ
emaj-126	85	28	the	the	DET
emaj-126	85	29	u.s	u.s	PROPN
emaj-126	85	30	.	.	PROPN
emaj-126	86	1	(	(	PUNCT
emaj-126	86	2	things	thing	NOUN
emaj-126	86	3	like	like	ADP
emaj-126	86	4	the	the	DET
emaj-126	86	5	sep	sep	PROPN
emaj-126	86	6	2013	2013	NUM
emaj-126	86	7	significant	significant	ADJ
emaj-126	86	8	usd	usd	NOUN
emaj-126	86	9	/	/	SYM
emaj-126	86	10	irr	irr	NOUN
emaj-126	86	11	exchange	exchange	NOUN
emaj-126	86	12	rate	rate	NOUN
emaj-126	86	13	increase	increase	NOUN
emaj-126	86	14	in	in	ADP
emaj-126	86	15	iran	iran	PROPN
emaj-126	86	16	)	)	PUNCT
emaj-126	86	17	.	.	PUNCT
emaj-126	87	1	therefore	therefore	ADV
emaj-126	87	2	,	,	PUNCT
emaj-126	87	3	we	we	PRON
emaj-126	87	4	can	can	AUX
emaj-126	87	5	focus	focus	VERB
emaj-126	87	6	on	on	ADP
emaj-126	87	7	the	the	DET
emaj-126	87	8	usual	usual	ADJ
emaj-126	87	9	macroeconomic	macroeconomic	ADJ
emaj-126	87	10	conditions	condition	NOUN
emaj-126	87	11	in	in	ADP
emaj-126	87	12	these	these	DET
emaj-126	87	13	countries	country	NOUN
emaj-126	87	14	and	and	CCONJ
emaj-126	87	15	avoid	avoid	VERB
emaj-126	87	16	structural	structural	ADJ
emaj-126	87	17	breaks	break	NOUN
emaj-126	87	18	.	.	PUNCT
emaj-126	88	1	table	table	NOUN
emaj-126	88	2	1	1	NUM
emaj-126	88	3	presents	present	VERB
emaj-126	88	4	the	the	DET
emaj-126	88	5	descriptive	descriptive	ADJ
emaj-126	88	6	characteristics	characteristic	NOUN
emaj-126	88	7	of	of	ADP
emaj-126	88	8	the	the	DET
emaj-126	88	9	sample	sample	NOUN
emaj-126	88	10	:	:	PUNCT
emaj-126	88	11	table	table	NOUN
emaj-126	88	12	1	1	NUM
emaj-126	88	13	:	:	PUNCT
emaj-126	88	14	descriptive	descriptive	ADJ
emaj-126	88	15	characteristics	characteristic	NOUN
emaj-126	88	16	of	of	ADP
emaj-126	88	17	the	the	DET
emaj-126	88	18	sample	sample	NOUN
emaj-126	88	19	the	the	DET
emaj-126	88	20	results	result	NOUN
emaj-126	88	21	from	from	ADP
emaj-126	88	22	the	the	DET
emaj-126	88	23	test	test	NOUN
emaj-126	88	24	for	for	ADP
emaj-126	88	25	stationary	stationary	NOUN
emaj-126	88	26	of	of	ADP
emaj-126	88	27	the	the	DET
emaj-126	88	28	variables	variable	NOUN
emaj-126	88	29	presented	present	VERB
emaj-126	88	30	in	in	ADP
emaj-126	88	31	table	table	NOUN
emaj-126	88	32	2	2	NUM
emaj-126	88	33	show	show	VERB
emaj-126	88	34	that	that	SCONJ
emaj-126	88	35	the	the	DET
emaj-126	88	36	variables	variable	NOUN
emaj-126	88	37	are	be	AUX
emaj-126	88	38	stationary	stationary	ADJ
emaj-126	88	39	at	at	ADP
emaj-126	88	40	the	the	DET
emaj-126	88	41	first	first	ADJ
emaj-126	88	42	difference	difference	NOUN
emaj-126	88	43	level	level	NOUN
emaj-126	88	44	.	.	PUNCT
emaj-126	89	1	therefore	therefore	ADV
emaj-126	89	2	,	,	PUNCT
emaj-126	89	3	in	in	ADP
emaj-126	89	4	investigating	investigate	VERB
emaj-126	89	5	the	the	DET
emaj-126	89	6	relationship	relationship	NOUN
emaj-126	89	7	between	between	ADP
emaj-126	89	8	the	the	DET
emaj-126	89	9	variables	variable	NOUN
emaj-126	89	10	,	,	PUNCT
emaj-126	89	11	we	we	PRON
emaj-126	89	12	will	will	AUX
emaj-126	89	13	use	use	VERB
emaj-126	89	14	their	their	PRON
emaj-126	89	15	first	first	ADJ
emaj-126	89	16	difference	difference	NOUN
emaj-126	89	17	.	.	PUNCT
emaj-126	90	1	volume	volume	NOUN
emaj-126	90	2	7	7	NUM
emaj-126	90	3	no	no	DET
emaj-126	90	4	1	1	NUM
emaj-126	90	5	(	(	PUNCT
emaj-126	90	6	2017	2017	NUM
emaj-126	90	7	)	)	PUNCT
emaj-126	90	8	|	|	ADV
emaj-126	90	9	issn	issn	VERB
emaj-126	90	10	2158	2158	NUM
emaj-126	90	11	-	-	SYM
emaj-126	90	12	8708	8708	NUM
emaj-126	90	13	(	(	PUNCT
emaj-126	90	14	online	online	NOUN
emaj-126	90	15	)	)	PUNCT
emaj-126	90	16	|	|	ADV
emaj-126	90	17	doi	doi	X
emaj-126	90	18	10.5195	10.5195	NUM
emaj-126	90	19	/	/	SYM
emaj-126	90	20	emaj.2017.126	emaj.2017.126	PROPN
emaj-126	91	1	|	|	NOUN
emaj-126	91	2	http://emaj.pitt.edu	http://emaj.pitt.edu	PROPN
emaj-126	91	3	jalal	jalal	PROPN
emaj-126	91	4	seifoddini	seifoddini	PROPN
emaj-126	91	5	,	,	PUNCT
emaj-126	91	6	fraydoon	fraydoon	NOUN
emaj-126	91	7	rahnamay	rahnamay	ADV
emaj-126	91	8	roodposhti	roodposhti	VERB
emaj-126	91	9	,	,	PUNCT
emaj-126	91	10	elahe	elahe	PROPN
emaj-126	91	11	kamali	kamali	ADJ
emaj-126	91	12	emerging	emerge	VERB
emaj-126	91	13	markets	market	NOUN
emaj-126	91	14	journal	journal	NOUN
emaj-126	91	15	|	|	ADV
emaj-126	91	16	p	p	NOUN
emaj-126	91	17	a	a	DET
emaj-126	91	18	g	g	NOUN
emaj-126	91	19	e	e	NOUN
emaj-126	91	20	|20	|20	X
emaj-126	91	21	table	table	NOUN
emaj-126	91	22	2	2	NUM
emaj-126	91	23	:	:	PUNCT
emaj-126	91	24	the	the	DET
emaj-126	91	25	augmented	augment	VERB
emaj-126	91	26	dickey	dickey	PROPN
emaj-126	91	27	-	-	PUNCT
emaj-126	91	28	fuller	full	ADJ
emaj-126	91	29	test	test	NOUN
emaj-126	91	30	results	result	NOUN
emaj-126	91	31	augmented	augment	VERB
emaj-126	91	32	dickey	dickey	PROPN
emaj-126	91	33	-	-	PUNCT
emaj-126	91	34	fuller	full	ADJ
emaj-126	91	35	test	test	NOUN
emaj-126	91	36	statistic	statistic	NOUN
emaj-126	91	37	null	null	ADJ
emaj-126	91	38	hypothesis	hypothesis	NOUN
emaj-126	91	39	:	:	PUNCT
emaj-126	91	40	variable	variable	NOUN
emaj-126	91	41	has	have	VERB
emaj-126	91	42	a	a	DET
emaj-126	91	43	unit	unit	NOUN
emaj-126	91	44	root	root	NOUN
emaj-126	91	45	level	level	NOUN
emaj-126	91	46	1st	1st	ADJ
emaj-126	91	47	difference	difference	NOUN
emaj-126	91	48	mackinnon	mackinnon	NOUN
emaj-126	91	49	(	(	PUNCT
emaj-126	91	50	1996	1996	NUM
emaj-126	91	51	)	)	PUNCT
emaj-126	91	52	one	one	NUM
emaj-126	91	53	-	-	PUNCT
emaj-126	91	54	sided	sided	ADJ
emaj-126	91	55	p	p	NOUN
emaj-126	91	56	-	-	PUNCT
emaj-126	91	57	values	value	NOUN
emaj-126	91	58	.	.	PUNCT
emaj-126	92	1	prob	prob	PROPN
emaj-126	92	2	.	.	PUNCT
emaj-126	93	1	prob	prob	PROPN
emaj-126	93	2	.	.	PUNCT
emaj-126	94	1	tedpix	tedpix	VERB
emaj-126	94	2	0.4128	0.4128	NUM
emaj-126	94	3	0.0000	0.0000	NUM
emaj-126	94	4	iran	iran	PROPN
emaj-126	94	5	gold	gold	NOUN
emaj-126	94	6	coins	coin	NOUN
emaj-126	94	7	prices	price	VERB
emaj-126	94	8	0.7282	0.7282	NUM
emaj-126	94	9	0.0000	0.0000	NUM
emaj-126	94	10	usd	usd	NOUN
emaj-126	94	11	/	/	SYM
emaj-126	94	12	irr	irr	NOUN
emaj-126	94	13	0.7216	0.7216	NUM
emaj-126	94	14	0.0000	0.0000	NUM
emaj-126	94	15	global	global	ADJ
emaj-126	94	16	gold	gold	NOUN
emaj-126	94	17	ounce	ounce	NOUN
emaj-126	94	18	prices	price	NOUN
emaj-126	94	19	0.2860	0.2860	NUM
emaj-126	94	20	0.0000	0.0000	NUM
emaj-126	94	21	s&p500	s&p500	NOUN
emaj-126	95	1	0.2935	0.2935	NUM
emaj-126	95	2	0.0000	0.0000	NUM
emaj-126	96	1	now	now	ADV
emaj-126	96	2	we	we	PRON
emaj-126	96	3	will	will	AUX
emaj-126	96	4	investigate	investigate	VERB
emaj-126	96	5	the	the	DET
emaj-126	96	6	relationship	relationship	NOUN
emaj-126	96	7	between	between	ADP
emaj-126	96	8	the	the	DET
emaj-126	96	9	stock	stock	NOUN
emaj-126	96	10	market	market	NOUN
emaj-126	96	11	return	return	NOUN
emaj-126	96	12	and	and	CCONJ
emaj-126	96	13	gold	gold	NOUN
emaj-126	96	14	market	market	NOUN
emaj-126	96	15	return	return	NOUN
emaj-126	96	16	using	use	VERB
emaj-126	96	17	equations	equation	NOUN
emaj-126	96	18	(	(	PUNCT
emaj-126	96	19	4	4	NUM
emaj-126	96	20	)	)	PUNCT
emaj-126	96	21	and	and	CCONJ
emaj-126	96	22	(	(	PUNCT
emaj-126	96	23	6	6	NUM
emaj-126	96	24	)	)	PUNCT
emaj-126	96	25	.	.	PUNCT
emaj-126	97	1	in	in	ADP
emaj-126	97	2	daily	daily	ADJ
emaj-126	97	3	analysis	analysis	NOUN
emaj-126	97	4	,	,	PUNCT
emaj-126	97	5	variables	variable	NOUN
emaj-126	97	6	are	be	AUX
emaj-126	97	7	specified	specify	VERB
emaj-126	97	8	with	with	ADP
emaj-126	97	9	the	the	DET
emaj-126	97	10	prefix	prefix	NOUN
emaj-126	97	11	of	of	ADP
emaj-126	97	12	lnd	lnd	NOUN
emaj-126	97	13	,	,	PUNCT
emaj-126	97	14	and	and	CCONJ
emaj-126	97	15	in	in	ADP
emaj-126	97	16	weekly	weekly	ADJ
emaj-126	97	17	analysis	analysis	NOUN
emaj-126	97	18	,	,	PUNCT
emaj-126	97	19	the	the	DET
emaj-126	97	20	prefix	prefix	NOUN
emaj-126	97	21	of	of	ADP
emaj-126	97	22	lnm	lnm	PROPN
emaj-126	97	23	and	and	CCONJ
emaj-126	97	24	in	in	ADP
emaj-126	97	25	monthly	monthly	ADJ
emaj-126	97	26	analysis	analysis	NOUN
emaj-126	97	27	the	the	DET
emaj-126	97	28	lnm	lnm	PROPN
emaj-126	97	29	prefix	prefix	NOUN
emaj-126	97	30	are	be	AUX
emaj-126	97	31	used	use	VERB
emaj-126	97	32	.	.	PUNCT
emaj-126	98	1	we	we	PRON
emaj-126	98	2	start	start	VERB
emaj-126	98	3	with	with	ADP
emaj-126	98	4	analyzing	analyze	VERB
emaj-126	98	5	the	the	DET
emaj-126	98	6	relationship	relationship	NOUN
emaj-126	98	7	between	between	ADP
emaj-126	98	8	gold	gold	NOUN
emaj-126	98	9	market	market	NOUN
emaj-126	98	10	and	and	CCONJ
emaj-126	98	11	stock	stock	NOUN
emaj-126	98	12	market	market	NOUN
emaj-126	98	13	daily	daily	ADJ
emaj-126	98	14	returns	return	NOUN
emaj-126	98	15	,	,	PUNCT
emaj-126	98	16	but	but	CCONJ
emaj-126	98	17	first	first	ADV
emaj-126	98	18	,	,	PUNCT
emaj-126	98	19	we	we	PRON
emaj-126	98	20	investigate	investigate	VERB
emaj-126	98	21	the	the	DET
emaj-126	98	22	existence	existence	NOUN
emaj-126	98	23	of	of	ADP
emaj-126	98	24	a	a	DET
emaj-126	98	25	serial	serial	ADJ
emaj-126	98	26	correlation	correlation	NOUN
emaj-126	98	27	of	of	ADP
emaj-126	98	28	error	error	NOUN
emaj-126	98	29	terms	term	NOUN
emaj-126	98	30	using	use	VERB
emaj-126	98	31	the	the	DET
emaj-126	98	32	breusch	breusch	ADJ
emaj-126	98	33	-	-	PUNCT
emaj-126	98	34	godfrey	godfrey	NOUN
emaj-126	98	35	serial	serial	ADJ
emaj-126	98	36	correlation	correlation	NOUN
emaj-126	98	37	lm	lm	X
emaj-126	98	38	test	test	NOUN
emaj-126	98	39	,	,	PUNCT
emaj-126	98	40	whose	whose	DET
emaj-126	98	41	results	result	NOUN
emaj-126	98	42	are	be	AUX
emaj-126	98	43	presented	present	VERB
emaj-126	98	44	in	in	ADP
emaj-126	98	45	table	table	NOUN
emaj-126	98	46	3	3	NUM
emaj-126	98	47	:	:	PUNCT
emaj-126	98	48	table	table	NOUN
emaj-126	98	49	3	3	NUM
emaj-126	98	50	:	:	PUNCT
emaj-126	98	51	serial	serial	ADJ
emaj-126	98	52	correlation	correlation	NOUN
emaj-126	98	53	test	test	NOUN
emaj-126	98	54	on	on	ADP
emaj-126	98	55	daily	daily	ADJ
emaj-126	98	56	returns	return	NOUN
emaj-126	98	57	breusch	breusch	ADJ
emaj-126	98	58	-	-	PUNCT
emaj-126	98	59	godfrey	godfrey	NOUN
emaj-126	98	60	serial	serial	ADJ
emaj-126	98	61	correlation	correlation	NOUN
emaj-126	98	62	lm	lm	INTJ
emaj-126	98	63	test	test	NOUN
emaj-126	98	64	:	:	PUNCT
emaj-126	98	65	iran	iran	PROPN
emaj-126	98	66	u.s	u.s	PROPN
emaj-126	98	67	.	.	PROPN
emaj-126	98	68	prob	prob	PROPN
emaj-126	98	69	.	.	PUNCT
emaj-126	99	1	f	f	X
emaj-126	99	2	-	-	PUNCT
emaj-126	99	3	statistic	statistic	ADJ
emaj-126	99	4	0.0000	0.0000	NUM
emaj-126	99	5	0.1467	0.1467	NUM
emaj-126	99	6	prob	prob	NOUN
emaj-126	99	7	.	.	PUNCT
emaj-126	100	1	chi	chi	ADJ
emaj-126	100	2	-	-	PUNCT
emaj-126	100	3	square(2	square(2	NOUN
emaj-126	100	4	)	)	PUNCT
emaj-126	101	1	0.0000	0.0000	NUM
emaj-126	101	2	0.1458	0.1458	NUM
emaj-126	101	3	test	test	NOUN
emaj-126	101	4	equation	equation	NOUN
emaj-126	101	5	(	(	PUNCT
emaj-126	101	6	dependent	dependent	ADJ
emaj-126	101	7	variable	variable	NOUN
emaj-126	101	8	:	:	PUNCT
emaj-126	101	9	resid	resid	VERB
emaj-126	101	10	):	):	PUNCT
emaj-126	101	11	variable	variable	ADJ
emaj-126	101	12	prob	prob	NOUN
emaj-126	101	13	.	.	PUNCT
emaj-126	101	14	prob	prob	PROPN
emaj-126	101	15	.	.	PUNCT
emaj-126	102	1	resid(-1	resid(-1	NOUN
emaj-126	102	2	)	)	PUNCT
emaj-126	102	3	0.0000	0.0000	NUM
emaj-126	102	4	0.1807	0.1807	NUM
emaj-126	102	5	resid(-2	resid(-2	NOUN
emaj-126	102	6	)	)	PUNCT
emaj-126	102	7	0.0000	0.0000	NUM
emaj-126	102	8	0.1346	0.1346	NUM
emaj-126	102	9	test	test	NOUN
emaj-126	102	10	statistics	statistic	NOUN
emaj-126	102	11	on	on	ADP
emaj-126	102	12	iran	iran	PROPN
emaj-126	102	13	’s	’s	PART
emaj-126	102	14	daily	daily	PROPN
emaj-126	102	15	data	datum	NOUN
emaj-126	102	16	show	show	VERB
emaj-126	102	17	that	that	SCONJ
emaj-126	102	18	the	the	DET
emaj-126	102	19	error	error	NOUN
emaj-126	102	20	terms	term	NOUN
emaj-126	102	21	are	be	AUX
emaj-126	102	22	serially	serially	ADV
emaj-126	102	23	correlated	correlate	VERB
emaj-126	102	24	.	.	PUNCT
emaj-126	103	1	autocorrelation	autocorrelation	NOUN
emaj-126	103	2	in	in	ADP
emaj-126	103	3	the	the	DET
emaj-126	103	4	residuals	residual	NOUN
emaj-126	103	5	is	be	AUX
emaj-126	103	6	often	often	ADV
emaj-126	103	7	caused	cause	VERB
emaj-126	103	8	by	by	ADP
emaj-126	103	9	a	a	DET
emaj-126	103	10	dynamic	dynamic	ADJ
emaj-126	103	11	structure	structure	NOUN
emaj-126	103	12	in	in	ADP
emaj-126	103	13	variables	variable	NOUN
emaj-126	103	14	that	that	PRON
emaj-126	103	15	has	have	AUX
emaj-126	103	16	not	not	PART
emaj-126	103	17	been	be	AUX
emaj-126	103	18	modelled	model	VERB
emaj-126	103	19	and	and	CCONJ
emaj-126	103	20	so	so	ADV
emaj-126	103	21	has	have	AUX
emaj-126	103	22	not	not	PART
emaj-126	103	23	been	be	AUX
emaj-126	103	24	captured	capture	VERB
emaj-126	103	25	in	in	ADP
emaj-126	103	26	the	the	DET
emaj-126	103	27	fitted	fit	VERB
emaj-126	103	28	values	value	NOUN
emaj-126	103	29	.	.	PUNCT
emaj-126	104	1	it	it	PRON
emaj-126	104	2	is	be	AUX
emaj-126	104	3	possible	possible	ADJ
emaj-126	104	4	to	to	PART
emaj-126	104	5	extend	extend	VERB
emaj-126	104	6	the	the	DET
emaj-126	104	7	model	model	NOUN
emaj-126	104	8	to	to	ADP
emaj-126	104	9	a	a	DET
emaj-126	104	10	dynamic	dynamic	ADJ
emaj-126	104	11	model	model	NOUN
emaj-126	104	12	by	by	ADP
emaj-126	104	13	adding	add	VERB
emaj-126	104	14	lagged	lag	VERB
emaj-126	104	15	variables	variable	NOUN
emaj-126	104	16	(	(	PUNCT
emaj-126	104	17	brooks	brooks	PROPN
emaj-126	104	18	2008	2008	NUM
emaj-126	104	19	)	)	PUNCT
emaj-126	104	20	.	.	PUNCT
emaj-126	105	1	in	in	ADP
emaj-126	105	2	order	order	NOUN
emaj-126	105	3	to	to	PART
emaj-126	105	4	justify	justify	VERB
emaj-126	105	5	the	the	DET
emaj-126	105	6	model	model	NOUN
emaj-126	105	7	to	to	PART
emaj-126	105	8	consider	consider	VERB
emaj-126	105	9	the	the	DET
emaj-126	105	10	effect	effect	NOUN
emaj-126	105	11	of	of	ADP
emaj-126	105	12	the	the	DET
emaj-126	105	13	autocorrelation	autocorrelation	NOUN
emaj-126	105	14	,	,	PUNCT
emaj-126	105	15	we	we	PRON
emaj-126	105	16	will	will	AUX
emaj-126	105	17	add	add	VERB
emaj-126	105	18	lagged	lag	VERB
emaj-126	105	19	independent	independent	ADJ
emaj-126	105	20	and	and	CCONJ
emaj-126	105	21	dependent	dependent	ADJ
emaj-126	105	22	variables	variable	NOUN
emaj-126	105	23	.	.	PUNCT
emaj-126	106	1	therefore	therefore	ADV
emaj-126	106	2	,	,	PUNCT
emaj-126	106	3	the	the	DET
emaj-126	106	4	justified	justified	ADJ
emaj-126	106	5	model	model	NOUN
emaj-126	106	6	of	of	ADP
emaj-126	106	7	the	the	DET
emaj-126	106	8	relationship	relationship	NOUN
emaj-126	106	9	between	between	ADP
emaj-126	106	10	iran	iran	PROPN
emaj-126	106	11	stock	stock	NOUN
emaj-126	106	12	market	market	NOUN
emaj-126	106	13	and	and	CCONJ
emaj-126	106	14	gold	gold	NOUN
emaj-126	106	15	market	market	NOUN
emaj-126	106	16	daily	daily	ADJ
emaj-126	106	17	returns	return	NOUN
emaj-126	106	18	is	be	AUX
emaj-126	106	19	as	as	SCONJ
emaj-126	106	20	follows	follow	VERB
emaj-126	106	21	:	:	PUNCT
emaj-126	106	22	(	(	PUNCT
emaj-126	106	23	7	7	X
emaj-126	106	24	)	)	PUNCT
emaj-126	106	25	we	we	PRON
emaj-126	106	26	also	also	ADV
emaj-126	106	27	consider	consider	VERB
emaj-126	106	28	the	the	DET
emaj-126	106	29	existence	existence	NOUN
emaj-126	106	30	of	of	ADP
emaj-126	106	31	heterogeneous	heterogeneous	ADJ
emaj-126	106	32	error	error	NOUN
emaj-126	106	33	distributions	distribution	NOUN
emaj-126	106	34	for	for	ADP
emaj-126	106	35	different	different	ADJ
emaj-126	106	36	regimes	regime	NOUN
emaj-126	106	37	in	in	ADP
emaj-126	106	38	our	our	PRON
emaj-126	106	39	model	model	NOUN
emaj-126	106	40	.	.	PUNCT
emaj-126	107	1	table	table	NOUN
emaj-126	107	2	4	4	NUM
emaj-126	107	3	,	,	PUNCT
emaj-126	107	4	presents	present	VERB
emaj-126	107	5	the	the	DET
emaj-126	107	6	results	result	NOUN
emaj-126	107	7	of	of	ADP
emaj-126	107	8	implementing	implement	VERB
emaj-126	107	9	the	the	DET
emaj-126	107	10	model	model	NOUN
emaj-126	107	11	:	:	PUNCT
emaj-126	107	12	table	table	NOUN
emaj-126	107	13	4	4	NUM
emaj-126	107	14	:	:	PUNCT
emaj-126	107	15	investigating	investigate	VERB
emaj-126	107	16	the	the	DET
emaj-126	107	17	existence	existence	NOUN
emaj-126	107	18	of	of	ADP
emaj-126	107	19	different	different	ADJ
emaj-126	107	20	regimes	regime	NOUN
emaj-126	107	21	in	in	ADP
emaj-126	107	22	the	the	DET
emaj-126	107	23	relationship	relationship	NOUN
emaj-126	107	24	between	between	ADP
emaj-126	107	25	the	the	DET
emaj-126	107	26	daily	daily	ADJ
emaj-126	107	27	returns	return	NOUN
emaj-126	107	28	of	of	ADP
emaj-126	107	29	the	the	DET
emaj-126	107	30	u.s	u.s	PROPN
emaj-126	107	31	.	.	PROPN
emaj-126	107	32	and	and	CCONJ
emaj-126	107	33	iran	iran	PROPN
emaj-126	107	34	's	's	PART
emaj-126	107	35	stock	stock	NOUN
emaj-126	107	36	markets	market	NOUN
emaj-126	107	37	and	and	CCONJ
emaj-126	107	38	gold	gold	NOUN
emaj-126	107	39	threshold	threshold	NOUN
emaj-126	107	40	type	type	NOUN
emaj-126	107	41	:	:	PUNCT
emaj-126	107	42	bai	bai	PROPN
emaj-126	107	43	-	-	PUNCT
emaj-126	107	44	perron	perron	PROPN
emaj-126	107	45	tests	test	NOUN
emaj-126	107	46	of	of	ADP
emaj-126	107	47	l+1	l+1	PROPN
emaj-126	107	48	vs.	vs.	ADP
emaj-126	107	49	l	l	NOUN
emaj-126	107	50	sequentially	sequentially	ADV
emaj-126	107	51	determined	determine	VERB
emaj-126	107	52	thresholds	threshold	NOUN
emaj-126	107	53	according	accord	VERB
emaj-126	107	54	to	to	ADP
emaj-126	107	55	the	the	DET
emaj-126	107	56	results	result	NOUN
emaj-126	107	57	presented	present	VERB
emaj-126	107	58	in	in	ADP
emaj-126	107	59	table	table	NOUN
emaj-126	107	60	4	4	NUM
emaj-126	107	61	,	,	PUNCT
emaj-126	107	62	the	the	DET
emaj-126	107	63	relationship	relationship	NOUN
emaj-126	107	64	between	between	ADP
emaj-126	107	65	gold	gold	NOUN
emaj-126	107	66	market	market	NOUN
emaj-126	107	67	and	and	CCONJ
emaj-126	107	68	stock	stock	NOUN
emaj-126	107	69	market	market	NOUN
emaj-126	107	70	daily	daily	ADJ
emaj-126	107	71	returns	return	NOUN
emaj-126	107	72	in	in	ADP
emaj-126	107	73	iran	iran	PROPN
emaj-126	107	74	is	be	AUX
emaj-126	107	75	not	not	PART
emaj-126	107	76	regime	regime	NOUN
emaj-126	107	77	-	-	PUNCT
emaj-126	107	78	specific	specific	ADJ
emaj-126	107	79	and	and	CCONJ
emaj-126	107	80	these	these	DET
emaj-126	107	81	two	two	NUM
emaj-126	107	82	do	do	AUX
emaj-126	107	83	not	not	PART
emaj-126	107	84	have	have	VERB
emaj-126	107	85	a	a	DET
emaj-126	107	86	meaningful	meaningful	ADJ
emaj-126	107	87	relationship	relationship	NOUN
emaj-126	107	88	.	.	PUNCT
emaj-126	108	1	in	in	ADP
emaj-126	108	2	the	the	DET
emaj-126	108	3	u.s	u.s	PROPN
emaj-126	108	4	.	.	PROPN
emaj-126	108	5	market	market	NOUN
emaj-126	108	6	,	,	PUNCT
emaj-126	108	7	there	there	PRON
emaj-126	108	8	is	be	VERB
emaj-126	108	9	an	an	DET
emaj-126	108	10	inverse	inverse	ADJ
emaj-126	108	11	meaningful	meaningful	ADJ
emaj-126	108	12	relationship	relationship	NOUN
emaj-126	108	13	between	between	ADP
emaj-126	108	14	stock	stock	NOUN
emaj-126	108	15	market	market	NOUN
emaj-126	108	16	and	and	CCONJ
emaj-126	108	17	global	global	ADJ
emaj-126	108	18	gold	gold	ADJ
emaj-126	108	19	daily	daily	ADJ
emaj-126	108	20	returns	return	NOUN
emaj-126	108	21	,	,	PUNCT
emaj-126	108	22	which	which	PRON
emaj-126	108	23	does	do	AUX
emaj-126	108	24	not	not	PART
emaj-126	108	25	follow	follow	VERB
emaj-126	108	26	different	different	ADJ
emaj-126	108	27	regimes	regime	NOUN
emaj-126	108	28	.	.	PUNCT
emaj-126	109	1	therefore	therefore	ADV
emaj-126	109	2	,	,	PUNCT
emaj-126	109	3	in	in	ADP
emaj-126	109	4	the	the	DET
emaj-126	109	5	short	short	ADJ
emaj-126	109	6	term	term	NOUN
emaj-126	109	7	,	,	PUNCT
emaj-126	109	8	gold	gold	NOUN
emaj-126	109	9	is	be	AUX
emaj-126	109	10	a	a	DET
emaj-126	109	11	weak	weak	ADJ
emaj-126	109	12	hedge	hedge	NOUN
emaj-126	109	13	for	for	ADP
emaj-126	109	14	iran	iran	PROPN
emaj-126	109	15	stock	stock	NOUN
emaj-126	109	16	market	market	NOUN
emaj-126	109	17	and	and	CCONJ
emaj-126	109	18	a	a	DET
emaj-126	109	19	strong	strong	ADJ
emaj-126	109	20	hedge	hedge	NOUN
emaj-126	109	21	for	for	ADP
emaj-126	109	22	u.s	u.s	PROPN
emaj-126	109	23	.	.	PROPN
emaj-126	109	24	stock	stock	NOUN
emaj-126	109	25	market	market	NOUN
emaj-126	109	26	.	.	PUNCT
emaj-126	110	1	we	we	PRON
emaj-126	110	2	used	use	VERB
emaj-126	110	3	the	the	DET
emaj-126	110	4	sequential	sequential	ADJ
emaj-126	110	5	method	method	NOUN
emaj-126	110	6	to	to	PART
emaj-126	110	7	determine	determine	VERB
emaj-126	110	8	the	the	DET
emaj-126	110	9	threshold	threshold	NOUN
emaj-126	110	10	values	value	NOUN
emaj-126	110	11	in	in	ADP
emaj-126	110	12	table	table	NOUN
emaj-126	110	13	4	4	NUM
emaj-126	110	14	.	.	PUNCT
emaj-126	111	1	the	the	DET
emaj-126	111	2	use	use	NOUN
emaj-126	111	3	of	of	ADP
emaj-126	111	4	the	the	DET
emaj-126	111	5	other	other	ADJ
emaj-126	111	6	two	two	NUM
emaj-126	111	7	methods	method	NOUN
emaj-126	111	8	did	do	AUX
emaj-126	111	9	not	not	PART
emaj-126	111	10	cause	cause	VERB
emaj-126	111	11	any	any	DET
emaj-126	111	12	changes	change	NOUN
emaj-126	111	13	in	in	ADP
emaj-126	111	14	the	the	DET
emaj-126	111	15	results	result	NOUN
emaj-126	111	16	;	;	PUNCT
emaj-126	111	17	therefore	therefore	ADV
emaj-126	111	18	,	,	PUNCT
emaj-126	111	19	to	to	PART
emaj-126	111	20	summarize	summarize	VERB
emaj-126	111	21	the	the	DET
emaj-126	111	22	matter	matter	NOUN
emaj-126	111	23	,	,	PUNCT
emaj-126	111	24	we	we	PRON
emaj-126	111	25	do	do	AUX
emaj-126	111	26	not	not	PART
emaj-126	111	27	present	present	VERB
emaj-126	111	28	their	their	PRON
emaj-126	111	29	results	result	NOUN
emaj-126	111	30	.	.	PUNCT
emaj-126	112	1	also	also	ADV
emaj-126	112	2	,	,	PUNCT
emaj-126	112	3	if	if	SCONJ
emaj-126	112	4	like	like	ADP
emaj-126	112	5	baur	baur	NOUN
emaj-126	112	6	and	and	CCONJ
emaj-126	112	7	lucey	lucey	PROPN
emaj-126	112	8	(	(	PUNCT
emaj-126	112	9	2010	2010	NUM
emaj-126	112	10	)	)	PUNCT
emaj-126	112	11	and	and	CCONJ
emaj-126	112	12	baur	baur	PROPN
emaj-126	112	13	and	and	CCONJ
emaj-126	112	14	mcdermott	mcdermott	PROPN
emaj-126	112	15	(	(	PUNCT
emaj-126	112	16	2010	2010	NUM
emaj-126	112	17	)	)	PUNCT
emaj-126	112	18	we	we	PRON
emaj-126	112	19	manually	manually	ADV
emaj-126	112	20	apply	apply	VERB
emaj-126	112	21	our	our	PRON
emaj-126	112	22	own	own	ADJ
emaj-126	112	23	regimes	regime	NOUN
emaj-126	112	24	,	,	PUNCT
emaj-126	112	25	the	the	DET
emaj-126	112	26	f	f	NOUN
emaj-126	112	27	-	-	PUNCT
emaj-126	112	28	statistic	statistic	NOUN
emaj-126	112	29	of	of	ADP
emaj-126	112	30	the	the	DET
emaj-126	112	31	model	model	NOUN
emaj-126	112	32	decreases	decrease	NOUN
emaj-126	112	33	which	which	PRON
emaj-126	112	34	shows	show	VERB
emaj-126	112	35	that	that	SCONJ
emaj-126	112	36	in	in	ADP
emaj-126	112	37	practice	practice	NOUN
emaj-126	112	38	,	,	PUNCT
emaj-126	112	39	no	no	DET
emaj-126	112	40	such	such	ADJ
emaj-126	112	41	regime	regime	NOUN
emaj-126	112	42	existed	exist	VERB
emaj-126	112	43	.	.	PUNCT
emaj-126	113	1	table	table	NOUN
emaj-126	113	2	5	5	NUM
emaj-126	113	3	shows	show	VERB
emaj-126	113	4	the	the	DET
emaj-126	113	5	results	result	NOUN
emaj-126	113	6	of	of	ADP
emaj-126	113	7	manually	manually	ADV
emaj-126	113	8	applying	apply	VERB
emaj-126	113	9	the	the	DET
emaj-126	113	10	two	two	NUM
emaj-126	113	11	regimes	regime	NOUN
emaj-126	113	12	of	of	ADP
emaj-126	113	13	negative	negative	ADJ
emaj-126	113	14	market	market	NOUN
emaj-126	113	15	(	(	PUNCT
emaj-126	113	16	returns	return	NOUN
emaj-126	113	17	below	below	ADP
emaj-126	113	18	zero	zero	NUM
emaj-126	113	19	)	)	PUNCT
emaj-126	113	20	and	and	CCONJ
emaj-126	113	21	positive	positive	ADJ
emaj-126	113	22	market	market	NOUN
emaj-126	113	23	(	(	PUNCT
emaj-126	113	24	above	above	ADP
emaj-126	113	25	zero	zero	NUM
emaj-126	113	26	returns	return	NOUN
emaj-126	113	27	)	)	PUNCT
emaj-126	113	28	to	to	ADP
emaj-126	113	29	the	the	DET
emaj-126	113	30	model	model	NOUN
emaj-126	113	31	,	,	PUNCT
emaj-126	113	32	for	for	ADP
emaj-126	113	33	which	which	PRON
emaj-126	113	34	,	,	PUNCT
emaj-126	113	35	the	the	DET
emaj-126	113	36	f	f	PROPN
emaj-126	113	37	-	-	PUNCT
emaj-126	113	38	statistics	statistic	NOUN
emaj-126	113	39	can	can	AUX
emaj-126	113	40	be	be	AUX
emaj-126	113	41	compared	compare	VERB
emaj-126	113	42	with	with	ADP
emaj-126	113	43	this	this	DET
emaj-126	113	44	very	very	ADV
emaj-126	113	45	statistic	statistic	NOUN
emaj-126	113	46	in	in	ADP
emaj-126	113	47	table	table	NOUN
emaj-126	113	48	4	4	NUM
emaj-126	113	49	.	.	PUNCT
emaj-126	114	1	volume	volume	NOUN
emaj-126	114	2	7	7	NUM
emaj-126	114	3	no	no	DET
emaj-126	114	4	1	1	NUM
emaj-126	114	5	(	(	PUNCT
emaj-126	114	6	2017	2017	NUM
emaj-126	114	7	)	)	PUNCT
emaj-126	114	8	|	|	ADV
emaj-126	114	9	issn	issn	VERB
emaj-126	114	10	2158	2158	NUM
emaj-126	114	11	-	-	SYM
emaj-126	114	12	8708	8708	NUM
emaj-126	114	13	(	(	PUNCT
emaj-126	114	14	online	online	NOUN
emaj-126	114	15	)	)	PUNCT
emaj-126	114	16	|	|	ADV
emaj-126	114	17	doi	doi	X
emaj-126	114	18	10.5195	10.5195	NUM
emaj-126	114	19	/	/	SYM
emaj-126	114	20	emaj.2017.126	emaj.2017.126	PROPN
emaj-126	115	1	|	|	NOUN
emaj-126	115	2	http://emaj.pitt.edu	http://emaj.pitt.edu	VERB
emaj-126	115	3	gold	gold	NOUN
emaj-126	115	4	-	-	PUNCT
emaj-126	115	5	stock	stock	NOUN
emaj-126	115	6	market	market	NOUN
emaj-126	115	7	relationship	relationship	NOUN
emaj-126	115	8	:	:	PUNCT
emaj-126	115	9	emerging	emerge	VERB
emaj-126	115	10	markets	market	NOUN
emaj-126	115	11	versus	versus	ADP
emaj-126	115	12	developed	develop	VERB
emaj-126	115	13	markets	market	NOUN
emaj-126	115	14	page	page	NOUN
emaj-126	115	15	|21|	|21|	VERB
emaj-126	115	16	emerging	emerge	VERB
emaj-126	115	17	markets	market	NOUN
emaj-126	115	18	journal	journal	NOUN
emaj-126	115	19	table	table	NOUN
emaj-126	115	20	5	5	NUM
emaj-126	115	21	:	:	PUNCT
emaj-126	115	22	manually	manually	ADV
emaj-126	115	23	applying	apply	VERB
emaj-126	115	24	the	the	DET
emaj-126	115	25	regimes	regime	NOUN
emaj-126	115	26	to	to	ADP
emaj-126	115	27	the	the	DET
emaj-126	115	28	relationship	relationship	NOUN
emaj-126	115	29	of	of	ADP
emaj-126	115	30	the	the	DET
emaj-126	115	31	daily	daily	ADJ
emaj-126	115	32	return	return	NOUN
emaj-126	115	33	of	of	ADP
emaj-126	115	34	the	the	DET
emaj-126	115	35	u.s	u.s	PROPN
emaj-126	115	36	.	.	PROPN
emaj-126	115	37	and	and	CCONJ
emaj-126	115	38	iran	iran	PROPN
emaj-126	115	39	's	's	PART
emaj-126	115	40	stock	stock	NOUN
emaj-126	115	41	markets	market	NOUN
emaj-126	115	42	with	with	ADP
emaj-126	115	43	gold	gold	NOUN
emaj-126	115	44	method	method	NOUN
emaj-126	115	45	:	:	PUNCT
emaj-126	115	46	threshold	threshold	NOUN
emaj-126	115	47	regression	regression	NOUN
emaj-126	115	48	threshold	threshold	NOUN
emaj-126	115	49	type	type	NOUN
emaj-126	115	50	:	:	PUNCT
emaj-126	115	51	fixed	fix	VERB
emaj-126	115	52	number	number	NOUN
emaj-126	115	53	of	of	ADP
emaj-126	115	54	user	user	NOUN
emaj-126	115	55	-	-	PUNCT
emaj-126	115	56	specified	specify	VERB
emaj-126	115	57	thresholds	threshold	NOUN
emaj-126	115	58	threshold	threshold	NOUN
emaj-126	115	59	value	value	NOUN
emaj-126	115	60	used	use	VERB
emaj-126	115	61	:	:	PUNCT
emaj-126	115	62	0	0	NUM
emaj-126	115	63	according	accord	VERB
emaj-126	115	64	to	to	ADP
emaj-126	115	65	table	table	NOUN
emaj-126	115	66	5	5	NUM
emaj-126	115	67	,	,	PUNCT
emaj-126	115	68	the	the	DET
emaj-126	115	69	researchers	researcher	NOUN
emaj-126	115	70	can	can	AUX
emaj-126	115	71	manually	manually	ADV
emaj-126	115	72	apply	apply	VERB
emaj-126	115	73	the	the	DET
emaj-126	115	74	two	two	NUM
emaj-126	115	75	positive	positive	ADJ
emaj-126	115	76	and	and	CCONJ
emaj-126	115	77	negative	negative	ADJ
emaj-126	115	78	regimes	regime	NOUN
emaj-126	115	79	and	and	CCONJ
emaj-126	115	80	show	show	VERB
emaj-126	115	81	that	that	SCONJ
emaj-126	115	82	in	in	ADP
emaj-126	115	83	the	the	DET
emaj-126	115	84	short	short	ADJ
emaj-126	115	85	term	term	NOUN
emaj-126	115	86	,	,	PUNCT
emaj-126	115	87	in	in	ADP
emaj-126	115	88	iran	iran	PROPN
emaj-126	115	89	,	,	PUNCT
emaj-126	115	90	gold	gold	NOUN
emaj-126	115	91	is	be	AUX
emaj-126	115	92	a	a	DET
emaj-126	115	93	strong	strong	ADJ
emaj-126	115	94	safe	safe	ADJ
emaj-126	115	95	haven	haven	NOUN
emaj-126	115	96	,	,	PUNCT
emaj-126	115	97	and	and	CCONJ
emaj-126	115	98	in	in	ADP
emaj-126	115	99	the	the	DET
emaj-126	115	100	us	us	PROPN
emaj-126	115	101	,	,	PUNCT
emaj-126	115	102	it	it	PRON
emaj-126	115	103	is	be	AUX
emaj-126	115	104	a	a	DET
emaj-126	115	105	weak	weak	ADJ
emaj-126	115	106	safe	safe	ADJ
emaj-126	115	107	haven	haven	NOUN
emaj-126	115	108	for	for	ADP
emaj-126	115	109	the	the	DET
emaj-126	115	110	stock	stock	NOUN
emaj-126	115	111	market	market	NOUN
emaj-126	115	112	.	.	PUNCT
emaj-126	116	1	however	however	ADV
emaj-126	116	2	,	,	PUNCT
emaj-126	116	3	as	as	SCONJ
emaj-126	116	4	mentioned	mention	VERB
emaj-126	116	5	before	before	ADV
emaj-126	116	6	,	,	PUNCT
emaj-126	116	7	determination	determination	NOUN
emaj-126	116	8	of	of	ADP
emaj-126	116	9	the	the	DET
emaj-126	116	10	two	two	NUM
emaj-126	116	11	regimes	regime	NOUN
emaj-126	116	12	led	lead	VERB
emaj-126	116	13	to	to	ADP
emaj-126	116	14	a	a	DET
emaj-126	116	15	decrease	decrease	NOUN
emaj-126	116	16	in	in	ADP
emaj-126	116	17	the	the	DET
emaj-126	116	18	f	f	NOUN
emaj-126	116	19	-	-	PUNCT
emaj-126	116	20	statistic	statistic	NOUN
emaj-126	116	21	of	of	ADP
emaj-126	116	22	the	the	DET
emaj-126	116	23	model	model	NOUN
emaj-126	116	24	and	and	CCONJ
emaj-126	116	25	in	in	ADP
emaj-126	116	26	fact	fact	NOUN
emaj-126	116	27	,	,	PUNCT
emaj-126	116	28	we	we	PRON
emaj-126	116	29	applied	apply	VERB
emaj-126	116	30	regimes	regime	NOUN
emaj-126	116	31	to	to	ADP
emaj-126	116	32	the	the	DET
emaj-126	116	33	model	model	NOUN
emaj-126	116	34	that	that	PRON
emaj-126	116	35	did	do	AUX
emaj-126	116	36	not	not	PART
emaj-126	116	37	practically	practically	ADV
emaj-126	116	38	exist	exist	VERB
emaj-126	116	39	.	.	PUNCT
emaj-126	117	1	it	it	PRON
emaj-126	117	2	is	be	AUX
emaj-126	117	3	also	also	ADV
emaj-126	117	4	possible	possible	ADJ
emaj-126	117	5	that	that	SCONJ
emaj-126	117	6	if	if	SCONJ
emaj-126	117	7	instead	instead	ADV
emaj-126	117	8	of	of	ADP
emaj-126	117	9	considering	consider	VERB
emaj-126	117	10	the	the	DET
emaj-126	117	11	two	two	NUM
emaj-126	117	12	positive	positive	ADJ
emaj-126	117	13	and	and	CCONJ
emaj-126	117	14	negative	negative	ADJ
emaj-126	117	15	regimes	regime	NOUN
emaj-126	117	16	,	,	PUNCT
emaj-126	117	17	we	we	PRON
emaj-126	117	18	consider	consider	VERB
emaj-126	117	19	more	more	ADJ
emaj-126	117	20	regimes	regime	NOUN
emaj-126	117	21	(	(	PUNCT
emaj-126	117	22	like	like	ADP
emaj-126	117	23	baur	baur	PROPN
emaj-126	117	24	&	&	CCONJ
emaj-126	117	25	mcdermott	mcdermott	PROPN
emaj-126	117	26	(	(	PUNCT
emaj-126	117	27	2010	2010	NUM
emaj-126	117	28	)	)	PUNCT
emaj-126	117	29	baur	baur	PROPN
emaj-126	117	30	&	&	CCONJ
emaj-126	117	31	lucey	lucey	PROPN
emaj-126	117	32	(	(	PUNCT
emaj-126	117	33	2010	2010	NUM
emaj-126	117	34	)	)	PUNCT
emaj-126	117	35	)	)	PUNCT
emaj-126	118	1	we	we	PRON
emaj-126	118	2	may	may	AUX
emaj-126	118	3	obtain	obtain	VERB
emaj-126	118	4	different	different	ADJ
emaj-126	118	5	results	result	NOUN
emaj-126	118	6	.	.	PUNCT
emaj-126	119	1	we	we	PRON
emaj-126	119	2	investigated	investigate	VERB
emaj-126	119	3	the	the	DET
emaj-126	119	4	relationship	relationship	NOUN
emaj-126	119	5	between	between	ADP
emaj-126	119	6	stock	stock	NOUN
emaj-126	119	7	return	return	NOUN
emaj-126	119	8	and	and	CCONJ
emaj-126	119	9	gold	gold	NOUN
emaj-126	119	10	coin	coin	NOUN
emaj-126	119	11	return	return	NOUN
emaj-126	119	12	of	of	ADP
emaj-126	119	13	the	the	DET
emaj-126	119	14	subsequent	subsequent	ADJ
emaj-126	119	15	day	day	NOUN
emaj-126	119	16	,	,	PUNCT
emaj-126	119	17	which	which	PRON
emaj-126	119	18	led	lead	VERB
emaj-126	119	19	to	to	ADP
emaj-126	119	20	a	a	DET
emaj-126	119	21	significant	significant	ADJ
emaj-126	119	22	drop	drop	NOUN
emaj-126	119	23	in	in	ADP
emaj-126	119	24	the	the	DET
emaj-126	119	25	goodness	goodness	NOUN
emaj-126	119	26	of	of	ADP
emaj-126	119	27	fit	fit	NOUN
emaj-126	119	28	of	of	ADP
emaj-126	119	29	the	the	DET
emaj-126	119	30	model	model	NOUN
emaj-126	119	31	.	.	PUNCT
emaj-126	120	1	this	this	PRON
emaj-126	120	2	is	be	AUX
emaj-126	120	3	because	because	SCONJ
emaj-126	120	4	the	the	DET
emaj-126	120	5	working	work	VERB
emaj-126	120	6	hours	hour	NOUN
emaj-126	120	7	of	of	ADP
emaj-126	120	8	iran	iran	PROPN
emaj-126	120	9	stock	stock	NOUN
emaj-126	120	10	market	market	NOUN
emaj-126	120	11	are	be	AUX
emaj-126	120	12	from	from	ADP
emaj-126	120	13	8:30	8:30	NUM
emaj-126	120	14	a.m.	a.m.	NOUN
emaj-126	120	15	to	to	ADP
emaj-126	120	16	12:30	12:30	NUM
emaj-126	120	17	p.m.	p.m.	NOUN
emaj-126	120	18	,	,	PUNCT
emaj-126	120	19	whereas	whereas	SCONJ
emaj-126	120	20	the	the	DET
emaj-126	120	21	official	official	ADJ
emaj-126	120	22	trading	trading	NOUN
emaj-126	120	23	hours	hour	NOUN
emaj-126	120	24	of	of	ADP
emaj-126	120	25	iran	iran	PROPN
emaj-126	120	26	gold	gold	NOUN
emaj-126	120	27	market	market	NOUN
emaj-126	120	28	start	start	VERB
emaj-126	120	29	from	from	ADP
emaj-126	120	30	11:30	11:30	NUM
emaj-126	120	31	a.m.	a.m.	ADV
emaj-126	120	32	,	,	PUNCT
emaj-126	120	33	and	and	CCONJ
emaj-126	120	34	if	if	SCONJ
emaj-126	120	35	the	the	DET
emaj-126	120	36	stock	stock	NOUN
emaj-126	120	37	market	market	NOUN
emaj-126	120	38	drops	drop	VERB
emaj-126	120	39	,	,	PUNCT
emaj-126	120	40	investors	investor	NOUN
emaj-126	120	41	will	will	AUX
emaj-126	120	42	have	have	VERB
emaj-126	120	43	the	the	DET
emaj-126	120	44	opportunity	opportunity	NOUN
emaj-126	120	45	to	to	PART
emaj-126	120	46	turn	turn	VERB
emaj-126	120	47	to	to	ADP
emaj-126	120	48	the	the	DET
emaj-126	120	49	gold	gold	NOUN
emaj-126	120	50	market	market	NOUN
emaj-126	120	51	in	in	ADP
emaj-126	120	52	the	the	DET
emaj-126	120	53	same	same	ADJ
emaj-126	120	54	day	day	NOUN
emaj-126	120	55	as	as	ADP
emaj-126	120	56	a	a	DET
emaj-126	120	57	safe	safe	ADJ
emaj-126	120	58	haven	haven	NOUN
emaj-126	120	59	.	.	PUNCT
emaj-126	121	1	the	the	DET
emaj-126	121	2	global	global	ADJ
emaj-126	121	3	gold	gold	NOUN
emaj-126	121	4	market	market	NOUN
emaj-126	121	5	is	be	AUX
emaj-126	121	6	open	open	ADJ
emaj-126	121	7	24	24	NUM
emaj-126	121	8	hours	hour	NOUN
emaj-126	121	9	and	and	CCONJ
emaj-126	121	10	u.s	u.s	PROPN
emaj-126	121	11	.	.	PROPN
emaj-126	121	12	investors	investor	NOUN
emaj-126	121	13	can	can	AUX
emaj-126	121	14	access	access	VERB
emaj-126	121	15	this	this	DET
emaj-126	121	16	market	market	NOUN
emaj-126	121	17	at	at	ADP
emaj-126	121	18	any	any	DET
emaj-126	121	19	time	time	NOUN
emaj-126	121	20	using	use	VERB
emaj-126	121	21	various	various	ADJ
emaj-126	121	22	gold	gold	NOUN
emaj-126	121	23	investment	investment	NOUN
emaj-126	121	24	tools	tool	NOUN
emaj-126	121	25	and	and	CCONJ
emaj-126	121	26	markets	market	NOUN
emaj-126	121	27	(	(	PUNCT
emaj-126	121	28	learn2succeed.com	learn2succeed.com	PROPN
emaj-126	121	29	inc	inc	PROPN
emaj-126	121	30	2014	2014	NUM
emaj-126	121	31	)	)	PUNCT
emaj-126	121	32	.	.	PUNCT
emaj-126	122	1	now	now	ADV
emaj-126	122	2	we	we	PRON
emaj-126	122	3	investigate	investigate	VERB
emaj-126	122	4	the	the	DET
emaj-126	122	5	weekly	weekly	ADJ
emaj-126	122	6	relationship	relationship	NOUN
emaj-126	122	7	between	between	ADP
emaj-126	122	8	the	the	DET
emaj-126	122	9	variables	variable	NOUN
emaj-126	122	10	.	.	PUNCT
emaj-126	123	1	according	accord	VERB
emaj-126	123	2	to	to	ADP
emaj-126	123	3	the	the	DET
emaj-126	123	4	results	result	NOUN
emaj-126	123	5	presented	present	VERB
emaj-126	123	6	in	in	ADP
emaj-126	123	7	table	table	NOUN
emaj-126	123	8	6	6	NUM
emaj-126	123	9	,	,	PUNCT
emaj-126	123	10	which	which	PRON
emaj-126	123	11	indicate	indicate	VERB
emaj-126	123	12	autocorrelation	autocorrelation	NOUN
emaj-126	123	13	,	,	PUNCT
emaj-126	123	14	we	we	PRON
emaj-126	123	15	justified	justify	VERB
emaj-126	123	16	the	the	DET
emaj-126	123	17	equations	equation	NOUN
emaj-126	123	18	(	(	PUNCT
emaj-126	123	19	4	4	NUM
emaj-126	123	20	)	)	PUNCT
emaj-126	123	21	and	and	CCONJ
emaj-126	123	22	(	(	PUNCT
emaj-126	123	23	6	6	NUM
emaj-126	123	24	)	)	PUNCT
emaj-126	123	25	similar	similar	ADJ
emaj-126	123	26	to	to	ADP
emaj-126	123	27	what	what	PRON
emaj-126	123	28	we	we	PRON
emaj-126	123	29	did	do	AUX
emaj-126	123	30	in	in	ADP
emaj-126	123	31	equation	equation	NOUN
emaj-126	123	32	(	(	PUNCT
emaj-126	123	33	7	7	NUM
emaj-126	123	34	)	)	PUNCT
emaj-126	123	35	for	for	ADP
emaj-126	123	36	weekly	weekly	ADJ
emaj-126	123	37	returns	return	NOUN
emaj-126	123	38	and	and	CCONJ
emaj-126	123	39	investigated	investigate	VERB
emaj-126	123	40	the	the	DET
emaj-126	123	41	existence	existence	NOUN
emaj-126	123	42	of	of	ADP
emaj-126	123	43	different	different	ADJ
emaj-126	123	44	regimes	regime	NOUN
emaj-126	123	45	in	in	ADP
emaj-126	123	46	the	the	DET
emaj-126	123	47	relations	relation	NOUN
emaj-126	123	48	between	between	ADP
emaj-126	123	49	the	the	DET
emaj-126	123	50	variables	variable	NOUN
emaj-126	123	51	.	.	PUNCT
emaj-126	124	1	table	table	NOUN
emaj-126	124	2	6	6	NUM
emaj-126	124	3	:	:	PUNCT
emaj-126	124	4	serial	serial	ADJ
emaj-126	124	5	correlation	correlation	NOUN
emaj-126	124	6	test	test	NOUN
emaj-126	124	7	of	of	ADP
emaj-126	124	8	weekly	weekly	ADJ
emaj-126	124	9	returns	return	NOUN
emaj-126	124	10	breusch	breusch	ADJ
emaj-126	124	11	-	-	PUNCT
emaj-126	124	12	godfrey	godfrey	NOUN
emaj-126	124	13	serial	serial	ADJ
emaj-126	124	14	correlation	correlation	NOUN
emaj-126	124	15	lm	lm	INTJ
emaj-126	124	16	test	test	NOUN
emaj-126	124	17	:	:	PUNCT
emaj-126	124	18	iran	iran	PROPN
emaj-126	124	19	u.s	u.s	PROPN
emaj-126	124	20	.	.	PROPN
emaj-126	124	21	prob	prob	PROPN
emaj-126	124	22	.	.	PUNCT
emaj-126	125	1	f	f	X
emaj-126	125	2	-	-	PUNCT
emaj-126	125	3	statistic	statistic	ADJ
emaj-126	125	4	0.0000	0.0000	NUM
emaj-126	125	5	0.0000	0.0000	NUM
emaj-126	125	6	prob	prob	NOUN
emaj-126	125	7	.	.	PUNCT
emaj-126	126	1	chi	chi	ADJ
emaj-126	126	2	-	-	PUNCT
emaj-126	126	3	square(2	square(2	NOUN
emaj-126	126	4	)	)	PUNCT
emaj-126	127	1	0.0000	0.0000	NUM
emaj-126	127	2	0.0000	0.0000	NUM
emaj-126	127	3	test	test	NOUN
emaj-126	127	4	equation	equation	NOUN
emaj-126	127	5	(	(	PUNCT
emaj-126	127	6	dependent	dependent	ADJ
emaj-126	127	7	variable	variable	NOUN
emaj-126	127	8	:	:	PUNCT
emaj-126	127	9	resid	resid	VERB
emaj-126	127	10	):	):	PUNCT
emaj-126	127	11	variable	variable	ADJ
emaj-126	127	12	prob	prob	NOUN
emaj-126	127	13	.	.	PUNCT
emaj-126	127	14	prob	prob	PROPN
emaj-126	127	15	.	.	PUNCT
emaj-126	128	1	resid(-1	resid(-1	NOUN
emaj-126	128	2	)	)	PUNCT
emaj-126	128	3	0.0000	0.0000	NUM
emaj-126	128	4	0.0000	0.0000	NUM
emaj-126	128	5	resid(-2	resid(-2	NOUN
emaj-126	128	6	)	)	PUNCT
emaj-126	128	7	0.0678	0.0678	NUM
emaj-126	128	8	0.1770	0.1770	NUM
emaj-126	129	1	the	the	DET
emaj-126	129	2	results	result	NOUN
emaj-126	129	3	presented	present	VERB
emaj-126	129	4	in	in	ADP
emaj-126	129	5	table	table	NOUN
emaj-126	129	6	7	7	NUM
emaj-126	129	7	show	show	VERB
emaj-126	129	8	that	that	SCONJ
emaj-126	129	9	weekly	weekly	ADJ
emaj-126	129	10	relations	relation	NOUN
emaj-126	129	11	do	do	AUX
emaj-126	129	12	not	not	PART
emaj-126	129	13	follow	follow	VERB
emaj-126	129	14	different	different	ADJ
emaj-126	129	15	regimes	regime	NOUN
emaj-126	129	16	,	,	PUNCT
emaj-126	129	17	and	and	CCONJ
emaj-126	129	18	in	in	ADP
emaj-126	129	19	iran	iran	PROPN
emaj-126	129	20	,	,	PUNCT
emaj-126	129	21	there	there	PRON
emaj-126	129	22	is	be	VERB
emaj-126	129	23	no	no	DET
emaj-126	129	24	meaningful	meaningful	ADJ
emaj-126	129	25	relationship	relationship	NOUN
emaj-126	129	26	between	between	ADP
emaj-126	129	27	the	the	DET
emaj-126	129	28	gold	gold	NOUN
emaj-126	129	29	and	and	CCONJ
emaj-126	129	30	stock	stock	NOUN
emaj-126	129	31	market	market	NOUN
emaj-126	129	32	weekly	weekly	ADJ
emaj-126	129	33	returns	return	NOUN
emaj-126	129	34	,	,	PUNCT
emaj-126	129	35	whereas	whereas	SCONJ
emaj-126	129	36	in	in	ADP
emaj-126	129	37	the	the	DET
emaj-126	129	38	us	us	PROPN
emaj-126	129	39	,	,	PUNCT
emaj-126	129	40	there	there	PRON
emaj-126	129	41	is	be	VERB
emaj-126	129	42	a	a	DET
emaj-126	129	43	meaningful	meaningful	ADJ
emaj-126	129	44	inverse	inverse	NOUN
emaj-126	129	45	relationship	relationship	NOUN
emaj-126	129	46	between	between	ADP
emaj-126	129	47	the	the	DET
emaj-126	129	48	weekly	weekly	ADJ
emaj-126	129	49	returns	return	NOUN
emaj-126	129	50	of	of	ADP
emaj-126	129	51	gold	gold	NOUN
emaj-126	129	52	and	and	CCONJ
emaj-126	129	53	stock	stock	NOUN
emaj-126	129	54	market	market	NOUN
emaj-126	129	55	.	.	PUNCT
emaj-126	130	1	therefore	therefore	ADV
emaj-126	130	2	,	,	PUNCT
emaj-126	130	3	gold	gold	NOUN
emaj-126	130	4	continues	continue	VERB
emaj-126	130	5	to	to	PART
emaj-126	130	6	hold	hold	VERB
emaj-126	130	7	its	its	PRON
emaj-126	130	8	role	role	NOUN
emaj-126	130	9	as	as	ADP
emaj-126	130	10	a	a	DET
emaj-126	130	11	strong	strong	ADJ
emaj-126	130	12	hedge	hedge	NOUN
emaj-126	130	13	in	in	ADP
emaj-126	130	14	the	the	DET
emaj-126	130	15	u.s	u.s	PROPN
emaj-126	130	16	and	and	CCONJ
emaj-126	130	17	a	a	DET
emaj-126	130	18	weak	weak	ADJ
emaj-126	130	19	hedge	hedge	NOUN
emaj-126	130	20	in	in	ADP
emaj-126	130	21	iran	iran	PROPN
emaj-126	130	22	.	.	PUNCT
emaj-126	131	1	table	table	NOUN
emaj-126	131	2	7	7	NUM
emaj-126	131	3	:	:	PUNCT
emaj-126	131	4	investigating	investigate	VERB
emaj-126	131	5	the	the	DET
emaj-126	131	6	existence	existence	NOUN
emaj-126	131	7	of	of	ADP
emaj-126	131	8	different	different	ADJ
emaj-126	131	9	regimes	regime	NOUN
emaj-126	131	10	in	in	ADP
emaj-126	131	11	the	the	DET
emaj-126	131	12	relationship	relationship	NOUN
emaj-126	131	13	between	between	ADP
emaj-126	131	14	the	the	DET
emaj-126	131	15	weekly	weekly	ADJ
emaj-126	131	16	return	return	NOUN
emaj-126	131	17	of	of	ADP
emaj-126	131	18	the	the	DET
emaj-126	131	19	stock	stock	NOUN
emaj-126	131	20	markets	market	NOUN
emaj-126	131	21	of	of	ADP
emaj-126	131	22	the	the	DET
emaj-126	131	23	u.s	u.s	PROPN
emaj-126	131	24	.	.	PROPN
emaj-126	131	25	and	and	CCONJ
emaj-126	131	26	iran	iran	PROPN
emaj-126	131	27	and	and	CCONJ
emaj-126	131	28	gold	gold	NOUN
emaj-126	131	29	method	method	NOUN
emaj-126	131	30	:	:	PUNCT
emaj-126	131	31	threshold	threshold	NOUN
emaj-126	131	32	regression	regression	NOUN
emaj-126	131	33	threshold	threshold	NOUN
emaj-126	131	34	type	type	NOUN
emaj-126	131	35	:	:	PUNCT
emaj-126	131	36	bai	bai	PROPN
emaj-126	131	37	-	-	PUNCT
emaj-126	131	38	perron	perron	PROPN
emaj-126	131	39	tests	test	NOUN
emaj-126	131	40	of	of	ADP
emaj-126	131	41	l+1	l+1	PROPN
emaj-126	131	42	vs.	vs.	ADP
emaj-126	131	43	l	l	NOUN
emaj-126	131	44	sequentially	sequentially	ADV
emaj-126	131	45	determined	determine	VERB
emaj-126	131	46	thresholds	threshold	NOUN
emaj-126	131	47	as	as	ADP
emaj-126	131	48	table	table	NOUN
emaj-126	131	49	8	8	NUM
emaj-126	131	50	shows	show	NOUN
emaj-126	131	51	,	,	PUNCT
emaj-126	131	52	in	in	ADP
emaj-126	131	53	iran	iran	PROPN
emaj-126	131	54	,	,	PUNCT
emaj-126	131	55	even	even	ADV
emaj-126	131	56	if	if	SCONJ
emaj-126	131	57	we	we	PRON
emaj-126	131	58	manually	manually	ADV
emaj-126	131	59	determine	determine	VERB
emaj-126	131	60	the	the	DET
emaj-126	131	61	regimes	regime	NOUN
emaj-126	131	62	,	,	PUNCT
emaj-126	131	63	the	the	DET
emaj-126	131	64	relations	relation	NOUN
emaj-126	131	65	between	between	ADP
emaj-126	131	66	the	the	DET
emaj-126	131	67	weekly	weekly	ADJ
emaj-126	131	68	return	return	NOUN
emaj-126	131	69	of	of	ADP
emaj-126	131	70	the	the	DET
emaj-126	131	71	stock	stock	NOUN
emaj-126	131	72	market	market	NOUN
emaj-126	131	73	and	and	CCONJ
emaj-126	131	74	gold	gold	NOUN
emaj-126	131	75	coin	coin	NOUN
emaj-126	131	76	are	be	AUX
emaj-126	131	77	not	not	PART
emaj-126	131	78	meaningful	meaningful	ADJ
emaj-126	131	79	and	and	CCONJ
emaj-126	131	80	only	only	ADV
emaj-126	131	81	the	the	DET
emaj-126	131	82	goodness	goodness	NOUN
emaj-126	131	83	of	of	ADP
emaj-126	131	84	fit	fit	NOUN
emaj-126	131	85	of	of	ADP
emaj-126	131	86	the	the	DET
emaj-126	131	87	model	model	NOUN
emaj-126	131	88	decreases	decrease	VERB
emaj-126	131	89	.	.	PUNCT
emaj-126	132	1	in	in	ADP
emaj-126	132	2	the	the	DET
emaj-126	132	3	u.s	u.s	PROPN
emaj-126	132	4	.	.	PROPN
emaj-126	132	5	market	market	NOUN
emaj-126	132	6	,	,	PUNCT
emaj-126	132	7	if	if	SCONJ
emaj-126	132	8	we	we	PRON
emaj-126	132	9	manually	manually	ADV
emaj-126	132	10	determine	determine	VERB
emaj-126	132	11	the	the	DET
emaj-126	132	12	regimes	regime	NOUN
emaj-126	132	13	,	,	PUNCT
emaj-126	132	14	gold	gold	NOUN
emaj-126	132	15	will	will	AUX
emaj-126	132	16	be	be	AUX
emaj-126	132	17	considered	consider	VERB
emaj-126	132	18	a	a	DET
emaj-126	132	19	weak	weak	ADJ
emaj-126	132	20	safe	safe	ADJ
emaj-126	132	21	haven	haven	NOUN
emaj-126	132	22	but	but	CCONJ
emaj-126	132	23	still	still	ADV
emaj-126	132	24	the	the	DET
emaj-126	132	25	goodness	goodness	NOUN
emaj-126	132	26	of	of	ADP
emaj-126	132	27	fit	fit	NOUN
emaj-126	132	28	of	of	ADP
emaj-126	132	29	the	the	DET
emaj-126	132	30	model	model	NOUN
emaj-126	132	31	decreases	decrease	VERB
emaj-126	132	32	.	.	PUNCT
emaj-126	133	1	volume	volume	NOUN
emaj-126	133	2	7	7	NUM
emaj-126	133	3	no	no	DET
emaj-126	133	4	1	1	NUM
emaj-126	133	5	(	(	PUNCT
emaj-126	133	6	2017	2017	NUM
emaj-126	133	7	)	)	PUNCT
emaj-126	133	8	|	|	ADV
emaj-126	133	9	issn	issn	VERB
emaj-126	133	10	2158	2158	NUM
emaj-126	133	11	-	-	SYM
emaj-126	133	12	8708	8708	NUM
emaj-126	133	13	(	(	PUNCT
emaj-126	133	14	online	online	NOUN
emaj-126	133	15	)	)	PUNCT
emaj-126	133	16	|	|	ADV
emaj-126	133	17	doi	doi	X
emaj-126	133	18	10.5195	10.5195	NUM
emaj-126	133	19	/	/	SYM
emaj-126	133	20	emaj.2017.126	emaj.2017.126	PROPN
emaj-126	133	21	|	|	NOUN
emaj-126	133	22	http://emaj.pitt.edu	http://emaj.pitt.edu	PROPN
emaj-126	133	23	jalal	jalal	PROPN
emaj-126	133	24	seifoddini	seifoddini	PROPN
emaj-126	133	25	,	,	PUNCT
emaj-126	133	26	fraydoon	fraydoon	NOUN
emaj-126	133	27	rahnamay	rahnamay	ADV
emaj-126	133	28	roodposhti	roodposhti	VERB
emaj-126	133	29	,	,	PUNCT
emaj-126	133	30	elahe	elahe	PROPN
emaj-126	133	31	kamali	kamali	ADJ
emaj-126	133	32	emerging	emerge	VERB
emaj-126	133	33	markets	market	NOUN
emaj-126	133	34	journal	journal	NOUN
emaj-126	133	35	|	|	ADV
emaj-126	133	36	p	p	NOUN
emaj-126	133	37	a	a	DET
emaj-126	133	38	g	g	NOUN
emaj-126	133	39	e	e	NOUN
emaj-126	133	40	|22	|22	NOUN
emaj-126	133	41	table	table	NOUN
emaj-126	133	42	8	8	NUM
emaj-126	133	43	:	:	PUNCT
emaj-126	133	44	manually	manually	ADV
emaj-126	133	45	applying	apply	VERB
emaj-126	133	46	the	the	DET
emaj-126	133	47	regimes	regime	NOUN
emaj-126	133	48	to	to	ADP
emaj-126	133	49	the	the	DET
emaj-126	133	50	relationship	relationship	NOUN
emaj-126	133	51	of	of	ADP
emaj-126	133	52	the	the	DET
emaj-126	133	53	weekly	weekly	ADJ
emaj-126	133	54	return	return	NOUN
emaj-126	133	55	of	of	ADP
emaj-126	133	56	the	the	DET
emaj-126	133	57	u.s	u.s	PROPN
emaj-126	133	58	.	.	PROPN
emaj-126	133	59	and	and	CCONJ
emaj-126	133	60	iran	iran	PROPN
emaj-126	133	61	stock	stock	NOUN
emaj-126	133	62	markets	market	NOUN
emaj-126	133	63	with	with	ADP
emaj-126	133	64	gold	gold	NOUN
emaj-126	133	65	method	method	NOUN
emaj-126	133	66	:	:	PUNCT
emaj-126	133	67	threshold	threshold	NOUN
emaj-126	133	68	regression	regression	NOUN
emaj-126	133	69	threshold	threshold	NOUN
emaj-126	133	70	type	type	NOUN
emaj-126	133	71	:	:	PUNCT
emaj-126	133	72	fixed	fix	VERB
emaj-126	133	73	number	number	NOUN
emaj-126	133	74	of	of	ADP
emaj-126	133	75	user	user	NOUN
emaj-126	133	76	-	-	PUNCT
emaj-126	133	77	specified	specify	VERB
emaj-126	133	78	thresholds	threshold	NOUN
emaj-126	133	79	threshold	threshold	NOUN
emaj-126	133	80	value	value	NOUN
emaj-126	133	81	used	use	VERB
emaj-126	133	82	:	:	PUNCT
emaj-126	133	83	0	0	PUNCT
emaj-126	133	84	the	the	DET
emaj-126	133	85	results	result	NOUN
emaj-126	133	86	from	from	ADP
emaj-126	133	87	investigating	investigate	VERB
emaj-126	133	88	the	the	DET
emaj-126	133	89	monthly	monthly	ADJ
emaj-126	133	90	relations	relation	NOUN
emaj-126	133	91	are	be	AUX
emaj-126	133	92	given	give	VERB
emaj-126	133	93	in	in	ADP
emaj-126	133	94	table	table	NOUN
emaj-126	133	95	9	9	NUM
emaj-126	133	96	,	,	PUNCT
emaj-126	133	97	table	table	NOUN
emaj-126	133	98	10	10	NUM
emaj-126	133	99	and	and	CCONJ
emaj-126	133	100	table	table	NOUN
emaj-126	133	101	11	11	NUM
emaj-126	133	102	,	,	PUNCT
emaj-126	133	103	which	which	PRON
emaj-126	133	104	show	show	VERB
emaj-126	133	105	that	that	SCONJ
emaj-126	133	106	gold	gold	NOUN
emaj-126	133	107	performed	perform	VERB
emaj-126	133	108	as	as	ADP
emaj-126	133	109	a	a	DET
emaj-126	133	110	weak	weak	ADJ
emaj-126	133	111	hedge	hedge	NOUN
emaj-126	133	112	in	in	ADP
emaj-126	133	113	both	both	CCONJ
emaj-126	133	114	iran	iran	PROPN
emaj-126	133	115	and	and	CCONJ
emaj-126	133	116	the	the	DET
emaj-126	133	117	u.s	u.s	PROPN
emaj-126	133	118	.	.	PROPN
emaj-126	133	119	markets	market	NOUN
emaj-126	133	120	.	.	PUNCT
emaj-126	134	1	table	table	NOUN
emaj-126	134	2	9	9	NUM
emaj-126	134	3	:	:	PUNCT
emaj-126	134	4	serial	serial	ADJ
emaj-126	134	5	correlation	correlation	NOUN
emaj-126	134	6	test	test	NOUN
emaj-126	134	7	of	of	ADP
emaj-126	134	8	monthly	monthly	ADJ
emaj-126	134	9	returns	return	NOUN
emaj-126	134	10	breusch	breusch	ADJ
emaj-126	134	11	-	-	PUNCT
emaj-126	134	12	godfrey	godfrey	NOUN
emaj-126	134	13	serial	serial	ADJ
emaj-126	134	14	correlation	correlation	NOUN
emaj-126	134	15	lm	lm	INTJ
emaj-126	134	16	test	test	NOUN
emaj-126	134	17	:	:	PUNCT
emaj-126	134	18	iran	iran	PROPN
emaj-126	134	19	u.s	u.s	PROPN
emaj-126	134	20	.	.	PROPN
emaj-126	134	21	prob	prob	PROPN
emaj-126	134	22	.	.	PUNCT
emaj-126	135	1	f	f	X
emaj-126	135	2	-	-	PUNCT
emaj-126	135	3	statistic	statistic	ADJ
emaj-126	135	4	0.0000	0.0000	NUM
emaj-126	135	5	0.0000	0.0000	NUM
emaj-126	135	6	prob	prob	NOUN
emaj-126	135	7	.	.	PUNCT
emaj-126	136	1	chi	chi	ADJ
emaj-126	136	2	-	-	PUNCT
emaj-126	136	3	square(2	square(2	NOUN
emaj-126	136	4	)	)	PUNCT
emaj-126	137	1	0.0000	0.0000	NUM
emaj-126	137	2	0.0000	0.0000	NUM
emaj-126	137	3	test	test	NOUN
emaj-126	137	4	equation	equation	NOUN
emaj-126	137	5	(	(	PUNCT
emaj-126	137	6	dependent	dependent	ADJ
emaj-126	137	7	variable	variable	NOUN
emaj-126	137	8	:	:	PUNCT
emaj-126	137	9	resid	resid	VERB
emaj-126	137	10	):	):	PUNCT
emaj-126	137	11	variable	variable	ADJ
emaj-126	137	12	prob	prob	NOUN
emaj-126	137	13	.	.	PUNCT
emaj-126	137	14	prob	prob	PROPN
emaj-126	137	15	.	.	PUNCT
emaj-126	138	1	resid(-1	resid(-1	NOUN
emaj-126	138	2	)	)	PUNCT
emaj-126	138	3	0.0000	0.0000	NUM
emaj-126	138	4	0.0000	0.0000	NUM
emaj-126	138	5	resid(-2	resid(-2	NOUN
emaj-126	138	6	)	)	PUNCT
emaj-126	138	7	0.0000	0.0000	NUM
emaj-126	138	8	0.0000	0.0000	NUM
emaj-126	138	9	table	table	NOUN
emaj-126	138	10	10	10	NUM
emaj-126	138	11	:	:	PUNCT
emaj-126	138	12	investigating	investigate	VERB
emaj-126	138	13	the	the	DET
emaj-126	138	14	existence	existence	NOUN
emaj-126	138	15	of	of	ADP
emaj-126	138	16	different	different	ADJ
emaj-126	138	17	regimes	regime	NOUN
emaj-126	138	18	in	in	ADP
emaj-126	138	19	the	the	DET
emaj-126	138	20	relationship	relationship	NOUN
emaj-126	138	21	between	between	ADP
emaj-126	138	22	the	the	DET
emaj-126	138	23	monthly	monthly	ADJ
emaj-126	138	24	returns	return	NOUN
emaj-126	138	25	of	of	ADP
emaj-126	138	26	the	the	DET
emaj-126	138	27	u.s	u.s	PROPN
emaj-126	138	28	.	.	PROPN
emaj-126	138	29	and	and	CCONJ
emaj-126	138	30	iran	iran	PROPN
emaj-126	138	31	stock	stock	NOUN
emaj-126	138	32	markets	market	NOUN
emaj-126	138	33	and	and	CCONJ
emaj-126	138	34	gold	gold	NOUN
emaj-126	138	35	threshold	threshold	NOUN
emaj-126	138	36	type	type	NOUN
emaj-126	138	37	:	:	PUNCT
emaj-126	138	38	bai	bai	PROPN
emaj-126	138	39	-	-	PUNCT
emaj-126	138	40	perron	perron	PROPN
emaj-126	138	41	tests	test	NOUN
emaj-126	138	42	of	of	ADP
emaj-126	138	43	l+1	l+1	PROPN
emaj-126	138	44	vs.	vs.	ADP
emaj-126	138	45	l	l	NOUN
emaj-126	138	46	sequentially	sequentially	ADV
emaj-126	138	47	determined	determine	VERB
emaj-126	138	48	thresholds	threshold	NOUN
emaj-126	138	49	table	table	NOUN
emaj-126	138	50	11	11	NUM
emaj-126	138	51	:	:	PUNCT
emaj-126	138	52	manually	manually	ADV
emaj-126	138	53	applying	apply	VERB
emaj-126	138	54	the	the	DET
emaj-126	138	55	regimes	regime	NOUN
emaj-126	138	56	to	to	ADP
emaj-126	138	57	the	the	DET
emaj-126	138	58	relationship	relationship	NOUN
emaj-126	138	59	of	of	ADP
emaj-126	138	60	the	the	DET
emaj-126	138	61	monthly	monthly	ADJ
emaj-126	138	62	returns	return	NOUN
emaj-126	138	63	of	of	ADP
emaj-126	138	64	the	the	DET
emaj-126	138	65	u.s	u.s	PROPN
emaj-126	138	66	.	.	PROPN
emaj-126	138	67	and	and	CCONJ
emaj-126	138	68	iran	iran	PROPN
emaj-126	138	69	stock	stock	NOUN
emaj-126	138	70	markets	market	NOUN
emaj-126	138	71	with	with	ADP
emaj-126	138	72	gold	gold	NOUN
emaj-126	138	73	method	method	NOUN
emaj-126	138	74	:	:	PUNCT
emaj-126	138	75	threshold	threshold	NOUN
emaj-126	138	76	regression	regression	NOUN
emaj-126	138	77	threshold	threshold	NOUN
emaj-126	138	78	type	type	NOUN
emaj-126	138	79	:	:	PUNCT
emaj-126	138	80	fixed	fix	VERB
emaj-126	138	81	number	number	NOUN
emaj-126	138	82	of	of	ADP
emaj-126	138	83	user	user	NOUN
emaj-126	138	84	-	-	PUNCT
emaj-126	138	85	specified	specify	VERB
emaj-126	138	86	thresholds	threshold	NOUN
emaj-126	138	87	threshold	threshold	NOUN
emaj-126	138	88	value	value	NOUN
emaj-126	138	89	used	use	VERB
emaj-126	138	90	:	:	PUNCT
emaj-126	138	91	0	0	PUNCT
emaj-126	139	1	as	as	SCONJ
emaj-126	139	2	table	table	NOUN
emaj-126	139	3	11	11	NUM
emaj-126	139	4	shows	show	NOUN
emaj-126	139	5	,	,	PUNCT
emaj-126	139	6	manually	manually	ADV
emaj-126	139	7	applying	apply	VERB
emaj-126	139	8	the	the	DET
emaj-126	139	9	regimes	regime	NOUN
emaj-126	139	10	did	do	AUX
emaj-126	139	11	not	not	PART
emaj-126	139	12	cause	cause	VERB
emaj-126	139	13	any	any	DET
emaj-126	139	14	changes	change	NOUN
emaj-126	139	15	in	in	ADP
emaj-126	139	16	the	the	DET
emaj-126	139	17	research	research	NOUN
emaj-126	139	18	results	result	NOUN
emaj-126	139	19	in	in	ADP
emaj-126	139	20	the	the	DET
emaj-126	139	21	monthly	monthly	ADJ
emaj-126	139	22	returns	return	NOUN
emaj-126	139	23	.	.	PUNCT
emaj-126	140	1	5	5	X
emaj-126	140	2	.	.	X
emaj-126	140	3	conclusion	conclusion	NOUN
emaj-126	140	4	in	in	ADP
emaj-126	140	5	the	the	DET
emaj-126	140	6	present	present	ADJ
emaj-126	140	7	paper	paper	NOUN
emaj-126	140	8	,	,	PUNCT
emaj-126	140	9	we	we	PRON
emaj-126	140	10	presented	present	VERB
emaj-126	140	11	a	a	DET
emaj-126	140	12	new	new	ADJ
emaj-126	140	13	approach	approach	NOUN
emaj-126	140	14	to	to	PART
emaj-126	140	15	improve	improve	VERB
emaj-126	140	16	previous	previous	ADJ
emaj-126	140	17	studies	study	NOUN
emaj-126	140	18	performed	perform	VERB
emaj-126	140	19	to	to	PART
emaj-126	140	20	determine	determine	VERB
emaj-126	140	21	the	the	DET
emaj-126	140	22	specific	specific	ADJ
emaj-126	140	23	relationships	relationship	NOUN
emaj-126	140	24	between	between	ADP
emaj-126	140	25	stock	stock	NOUN
emaj-126	140	26	markets	market	NOUN
emaj-126	140	27	and	and	CCONJ
emaj-126	140	28	gold	gold	NOUN
emaj-126	140	29	markets	market	NOUN
emaj-126	140	30	.	.	PUNCT
emaj-126	141	1	we	we	PRON
emaj-126	141	2	used	use	VERB
emaj-126	141	3	threshold	threshold	NOUN
emaj-126	141	4	regression	regression	NOUN
emaj-126	141	5	to	to	PART
emaj-126	141	6	determine	determine	VERB
emaj-126	141	7	the	the	DET
emaj-126	141	8	volume	volume	NOUN
emaj-126	141	9	7	7	NUM
emaj-126	141	10	no	no	DET
emaj-126	141	11	1	1	NUM
emaj-126	141	12	(	(	PUNCT
emaj-126	141	13	2017	2017	NUM
emaj-126	141	14	)	)	PUNCT
emaj-126	141	15	|	|	ADV
emaj-126	141	16	issn	issn	VERB
emaj-126	141	17	2158	2158	NUM
emaj-126	141	18	-	-	SYM
emaj-126	141	19	8708	8708	NUM
emaj-126	141	20	(	(	PUNCT
emaj-126	141	21	online	online	NOUN
emaj-126	141	22	)	)	PUNCT
emaj-126	141	23	|	|	ADV
emaj-126	141	24	doi	doi	X
emaj-126	141	25	10.5195	10.5195	NUM
emaj-126	141	26	/	/	SYM
emaj-126	141	27	emaj.2017.126	emaj.2017.126	PROPN
emaj-126	141	28	|	|	NOUN
emaj-126	141	29	http://emaj.pitt.edu	http://emaj.pitt.edu	VERB
emaj-126	141	30	gold	gold	NOUN
emaj-126	141	31	-	-	PUNCT
emaj-126	141	32	stock	stock	NOUN
emaj-126	141	33	market	market	NOUN
emaj-126	141	34	relationship	relationship	NOUN
emaj-126	141	35	:	:	PUNCT
emaj-126	141	36	emerging	emerge	VERB
emaj-126	141	37	markets	market	NOUN
emaj-126	141	38	versus	versus	ADP
emaj-126	141	39	developed	develop	VERB
emaj-126	141	40	markets	market	NOUN
emaj-126	141	41	page	page	VERB
emaj-126	141	42	|23|	|23|	ADJ
emaj-126	141	43	emerging	emerge	VERB
emaj-126	141	44	markets	market	NOUN
emaj-126	141	45	journal	journal	NOUN
emaj-126	141	46	potential	potential	ADJ
emaj-126	141	47	different	different	ADJ
emaj-126	141	48	regimes	regime	NOUN
emaj-126	141	49	in	in	ADP
emaj-126	141	50	the	the	DET
emaj-126	141	51	gold	gold	NOUN
emaj-126	141	52	and	and	CCONJ
emaj-126	141	53	stock	stock	NOUN
emaj-126	141	54	markets	market	NOUN
emaj-126	141	55	relationships	relationship	NOUN
emaj-126	141	56	based	base	VERB
emaj-126	141	57	on	on	ADP
emaj-126	141	58	data	datum	NOUN
emaj-126	141	59	characteristics	characteristic	NOUN
emaj-126	141	60	and	and	CCONJ
emaj-126	141	61	improved	improve	VERB
emaj-126	141	62	the	the	DET
emaj-126	141	63	rule	rule	NOUN
emaj-126	141	64	of	of	ADP
emaj-126	141	65	thumb	thumb	NOUN
emaj-126	141	66	approach	approach	NOUN
emaj-126	141	67	introduced	introduce	VERB
emaj-126	141	68	by	by	ADP
emaj-126	141	69	baur	baur	PROPN
emaj-126	141	70	and	and	CCONJ
emaj-126	141	71	lucey	lucey	PROPN
emaj-126	141	72	(	(	PUNCT
emaj-126	141	73	2010	2010	NUM
emaj-126	141	74	)	)	PUNCT
emaj-126	141	75	.	.	PUNCT
emaj-126	142	1	we	we	PRON
emaj-126	142	2	also	also	ADV
emaj-126	142	3	improved	improve	VERB
emaj-126	142	4	other	other	ADJ
emaj-126	142	5	studies	study	NOUN
emaj-126	142	6	like	like	ADP
emaj-126	142	7	beckmann	beckmann	PROPN
emaj-126	142	8	et	et	PROPN
emaj-126	142	9	al	al	PROPN
emaj-126	142	10	.	.	PROPN
emaj-126	143	1	(	(	PUNCT
emaj-126	143	2	2015	2015	NUM
emaj-126	143	3	)	)	PUNCT
emaj-126	143	4	,	,	PUNCT
emaj-126	143	5	by	by	ADP
emaj-126	143	6	considering	consider	VERB
emaj-126	143	7	higher	high	ADJ
emaj-126	143	8	frequency	frequency	NOUN
emaj-126	143	9	data	datum	NOUN
emaj-126	143	10	and	and	CCONJ
emaj-126	143	11	taking	take	VERB
emaj-126	143	12	into	into	ADP
emaj-126	143	13	account	account	NOUN
emaj-126	143	14	the	the	DET
emaj-126	143	15	role	role	NOUN
emaj-126	143	16	of	of	ADP
emaj-126	143	17	currency	currency	NOUN
emaj-126	143	18	exchange	exchange	NOUN
emaj-126	143	19	rates	rate	NOUN
emaj-126	143	20	and	and	CCONJ
emaj-126	143	21	finally	finally	ADV
emaj-126	143	22	providing	provide	VERB
emaj-126	143	23	the	the	DET
emaj-126	143	24	possibility	possibility	NOUN
emaj-126	143	25	to	to	PART
emaj-126	143	26	make	make	VERB
emaj-126	143	27	quick	quick	ADJ
emaj-126	143	28	transition	transition	NOUN
emaj-126	143	29	in	in	ADP
emaj-126	143	30	regimes	regime	NOUN
emaj-126	143	31	by	by	ADP
emaj-126	143	32	implementing	implement	VERB
emaj-126	143	33	a	a	DET
emaj-126	143	34	different	different	ADJ
emaj-126	143	35	regime	regime	NOUN
emaj-126	143	36	switching	switch	VERB
emaj-126	143	37	model	model	NOUN
emaj-126	143	38	.	.	PUNCT
emaj-126	144	1	the	the	DET
emaj-126	144	2	main	main	ADJ
emaj-126	144	3	conclusion	conclusion	NOUN
emaj-126	144	4	of	of	ADP
emaj-126	144	5	the	the	DET
emaj-126	144	6	present	present	ADJ
emaj-126	144	7	research	research	NOUN
emaj-126	144	8	is	be	AUX
emaj-126	144	9	that	that	SCONJ
emaj-126	144	10	we	we	PRON
emaj-126	144	11	showed	show	VERB
emaj-126	144	12	that	that	SCONJ
emaj-126	144	13	studies	study	NOUN
emaj-126	144	14	like	like	ADP
emaj-126	144	15	baur	baur	PROPN
emaj-126	144	16	and	and	CCONJ
emaj-126	144	17	mcdermott	mcdermott	PROPN
emaj-126	144	18	(	(	PUNCT
emaj-126	144	19	2010	2010	NUM
emaj-126	144	20	)	)	PUNCT
emaj-126	144	21	and	and	CCONJ
emaj-126	144	22	baur	baur	PROPN
emaj-126	144	23	and	and	CCONJ
emaj-126	144	24	lucey	lucey	PROPN
emaj-126	144	25	(	(	PUNCT
emaj-126	144	26	2010	2010	NUM
emaj-126	144	27	)	)	PUNCT
emaj-126	144	28	who	who	PRON
emaj-126	144	29	found	find	VERB
emaj-126	144	30	that	that	SCONJ
emaj-126	144	31	gold	gold	NOUN
emaj-126	144	32	acts	act	VERB
emaj-126	144	33	as	as	ADP
emaj-126	144	34	a	a	DET
emaj-126	144	35	safe	safe	ADJ
emaj-126	144	36	haven	haven	NOUN
emaj-126	144	37	for	for	ADP
emaj-126	144	38	stock	stock	NOUN
emaj-126	144	39	market	market	NOUN
emaj-126	144	40	,	,	PUNCT
emaj-126	144	41	may	may	AUX
emaj-126	144	42	have	have	AUX
emaj-126	144	43	suffered	suffer	VERB
emaj-126	144	44	from	from	ADP
emaj-126	144	45	manually	manually	ADV
emaj-126	144	46	applying	apply	VERB
emaj-126	144	47	the	the	DET
emaj-126	144	48	regimes	regime	NOUN
emaj-126	144	49	.	.	PUNCT
emaj-126	145	1	because	because	SCONJ
emaj-126	145	2	our	our	PRON
emaj-126	145	3	findings	finding	NOUN
emaj-126	145	4	showed	show	VERB
emaj-126	145	5	that	that	SCONJ
emaj-126	145	6	,	,	PUNCT
emaj-126	145	7	if	if	SCONJ
emaj-126	145	8	we	we	PRON
emaj-126	145	9	investigate	investigate	VERB
emaj-126	145	10	the	the	DET
emaj-126	145	11	existence	existence	NOUN
emaj-126	145	12	of	of	ADP
emaj-126	145	13	different	different	ADJ
emaj-126	145	14	regimes	regime	NOUN
emaj-126	145	15	based	base	VERB
emaj-126	145	16	on	on	ADP
emaj-126	145	17	the	the	DET
emaj-126	145	18	data	data	NOUN
emaj-126	145	19	characteristics	characteristic	NOUN
emaj-126	145	20	,	,	PUNCT
emaj-126	145	21	the	the	DET
emaj-126	145	22	relationship	relationship	NOUN
emaj-126	145	23	between	between	ADP
emaj-126	145	24	the	the	DET
emaj-126	145	25	stock	stock	NOUN
emaj-126	145	26	market	market	NOUN
emaj-126	145	27	and	and	CCONJ
emaj-126	145	28	gold	gold	NOUN
emaj-126	145	29	market	market	NOUN
emaj-126	145	30	does	do	AUX
emaj-126	145	31	not	not	PART
emaj-126	145	32	follow	follow	VERB
emaj-126	145	33	any	any	DET
emaj-126	145	34	specific	specific	ADJ
emaj-126	145	35	regimes	regime	NOUN
emaj-126	145	36	,	,	PUNCT
emaj-126	145	37	both	both	PRON
emaj-126	145	38	in	in	ADP
emaj-126	145	39	the	the	DET
emaj-126	145	40	short	short	ADJ
emaj-126	145	41	and	and	CCONJ
emaj-126	145	42	the	the	DET
emaj-126	145	43	long	long	ADJ
emaj-126	145	44	terms	term	NOUN
emaj-126	145	45	.	.	PUNCT
emaj-126	146	1	another	another	DET
emaj-126	146	2	point	point	NOUN
emaj-126	146	3	is	be	AUX
emaj-126	146	4	that	that	SCONJ
emaj-126	146	5	,	,	PUNCT
emaj-126	146	6	according	accord	VERB
emaj-126	146	7	to	to	ADP
emaj-126	146	8	our	our	PRON
emaj-126	146	9	findings	finding	NOUN
emaj-126	146	10	,	,	PUNCT
emaj-126	146	11	in	in	ADP
emaj-126	146	12	the	the	DET
emaj-126	146	13	short	short	ADJ
emaj-126	146	14	term	term	NOUN
emaj-126	146	15	,	,	PUNCT
emaj-126	146	16	the	the	DET
emaj-126	146	17	relationship	relationship	NOUN
emaj-126	146	18	between	between	ADP
emaj-126	146	19	the	the	DET
emaj-126	146	20	stock	stock	NOUN
emaj-126	146	21	market	market	NOUN
emaj-126	146	22	and	and	CCONJ
emaj-126	146	23	gold	gold	NOUN
emaj-126	146	24	in	in	ADP
emaj-126	146	25	the	the	DET
emaj-126	146	26	developed	develop	VERB
emaj-126	146	27	market	market	NOUN
emaj-126	146	28	of	of	ADP
emaj-126	146	29	u.s	u.s	PROPN
emaj-126	146	30	.	.	PROPN
emaj-126	146	31	differs	differ	VERB
emaj-126	146	32	from	from	ADP
emaj-126	146	33	that	that	PRON
emaj-126	146	34	of	of	ADP
emaj-126	146	35	the	the	DET
emaj-126	146	36	relatively	relatively	ADV
emaj-126	146	37	small	small	ADJ
emaj-126	146	38	emerging	emerge	VERB
emaj-126	146	39	market	market	NOUN
emaj-126	146	40	of	of	ADP
emaj-126	146	41	iran	iran	PROPN
emaj-126	146	42	.	.	PUNCT
emaj-126	147	1	however	however	ADV
emaj-126	147	2	,	,	PUNCT
emaj-126	147	3	in	in	ADP
emaj-126	147	4	the	the	DET
emaj-126	147	5	long	long	ADJ
emaj-126	147	6	term	term	NOUN
emaj-126	147	7	using	use	VERB
emaj-126	147	8	monthly	monthly	ADJ
emaj-126	147	9	returns	return	NOUN
emaj-126	147	10	,	,	PUNCT
emaj-126	147	11	in	in	ADP
emaj-126	147	12	both	both	CCONJ
emaj-126	147	13	iran	iran	PROPN
emaj-126	147	14	and	and	CCONJ
emaj-126	147	15	the	the	DET
emaj-126	147	16	u.s	u.s	PROPN
emaj-126	147	17	.	.	PROPN
emaj-126	147	18	markets	market	NOUN
emaj-126	147	19	,	,	PUNCT
emaj-126	147	20	there	there	PRON
emaj-126	147	21	was	be	VERB
emaj-126	147	22	no	no	DET
emaj-126	147	23	meaningful	meaningful	ADJ
emaj-126	147	24	relationship	relationship	NOUN
emaj-126	147	25	between	between	ADP
emaj-126	147	26	gold	gold	NOUN
emaj-126	147	27	and	and	CCONJ
emaj-126	147	28	stock	stock	NOUN
emaj-126	147	29	market	market	NOUN
emaj-126	147	30	.	.	PUNCT
emaj-126	148	1	in	in	ADP
emaj-126	148	2	other	other	ADJ
emaj-126	148	3	words	word	NOUN
emaj-126	148	4	,	,	PUNCT
emaj-126	148	5	in	in	ADP
emaj-126	148	6	both	both	DET
emaj-126	148	7	markets	market	NOUN
emaj-126	148	8	,	,	PUNCT
emaj-126	148	9	in	in	ADP
emaj-126	148	10	the	the	DET
emaj-126	148	11	long	long	ADJ
emaj-126	148	12	term	term	NOUN
emaj-126	148	13	,	,	PUNCT
emaj-126	148	14	gold	gold	NOUN
emaj-126	148	15	performed	perform	VERB
emaj-126	148	16	as	as	ADP
emaj-126	148	17	a	a	DET
emaj-126	148	18	weak	weak	ADJ
emaj-126	148	19	hedge	hedge	NOUN
emaj-126	148	20	.	.	PUNCT
emaj-126	149	1	this	this	PRON
emaj-126	149	2	can	can	AUX
emaj-126	149	3	be	be	AUX
emaj-126	149	4	because	because	SCONJ
emaj-126	149	5	in	in	ADP
emaj-126	149	6	the	the	DET
emaj-126	149	7	long	long	ADJ
emaj-126	149	8	term	term	NOUN
emaj-126	149	9	,	,	PUNCT
emaj-126	149	10	the	the	DET
emaj-126	149	11	price	price	NOUN
emaj-126	149	12	of	of	ADP
emaj-126	149	13	gold	gold	NOUN
emaj-126	149	14	is	be	AUX
emaj-126	149	15	heavily	heavily	ADV
emaj-126	149	16	influenced	influence	VERB
emaj-126	149	17	by	by	ADP
emaj-126	149	18	the	the	DET
emaj-126	149	19	demand	demand	NOUN
emaj-126	149	20	for	for	ADP
emaj-126	149	21	gold	gold	NOUN
emaj-126	149	22	as	as	ADP
emaj-126	149	23	jewelry	jewelry	NOUN
emaj-126	149	24	,	,	PUNCT
emaj-126	149	25	which	which	PRON
emaj-126	149	26	encompasses	encompass	VERB
emaj-126	149	27	a	a	DET
emaj-126	149	28	major	major	ADJ
emaj-126	149	29	part	part	NOUN
emaj-126	149	30	of	of	ADP
emaj-126	149	31	the	the	DET
emaj-126	149	32	global	global	ADJ
emaj-126	149	33	gold	gold	NOUN
emaj-126	149	34	demand	demand	NOUN
emaj-126	149	35	(	(	PUNCT
emaj-126	149	36	world	world	NOUN
emaj-126	149	37	gold	gold	PROPN
emaj-126	149	38	council	council	PROPN
emaj-126	149	39	2016	2016	NUM
emaj-126	149	40	)	)	PUNCT
emaj-126	149	41	.	.	PUNCT
emaj-126	150	1	therefore	therefore	ADV
emaj-126	150	2	,	,	PUNCT
emaj-126	150	3	based	base	VERB
emaj-126	150	4	on	on	ADP
emaj-126	150	5	the	the	DET
emaj-126	150	6	research	research	NOUN
emaj-126	150	7	results	result	NOUN
emaj-126	150	8	,	,	PUNCT
emaj-126	150	9	we	we	PRON
emaj-126	150	10	recommend	recommend	VERB
emaj-126	150	11	that	that	SCONJ
emaj-126	150	12	investors	investor	NOUN
emaj-126	150	13	should	should	AUX
emaj-126	150	14	distinguish	distinguish	VERB
emaj-126	150	15	the	the	DET
emaj-126	150	16	relationship	relationship	NOUN
emaj-126	150	17	between	between	ADP
emaj-126	150	18	gold	gold	NOUN
emaj-126	150	19	and	and	CCONJ
emaj-126	150	20	stock	stock	NOUN
emaj-126	150	21	market	market	NOUN
emaj-126	150	22	in	in	ADP
emaj-126	150	23	different	different	ADJ
emaj-126	150	24	markets	market	NOUN
emaj-126	150	25	,	,	PUNCT
emaj-126	150	26	especially	especially	ADV
emaj-126	150	27	in	in	ADP
emaj-126	150	28	developed	developed	ADJ
emaj-126	150	29	and	and	CCONJ
emaj-126	150	30	emerging	emerge	VERB
emaj-126	150	31	markets	market	NOUN
emaj-126	150	32	.	.	PUNCT
emaj-126	151	1	they	they	PRON
emaj-126	151	2	should	should	AUX
emaj-126	151	3	also	also	ADV
emaj-126	151	4	consider	consider	VERB
emaj-126	151	5	the	the	DET
emaj-126	151	6	importance	importance	NOUN
emaj-126	151	7	of	of	ADP
emaj-126	151	8	other	other	ADJ
emaj-126	151	9	factors	factor	NOUN
emaj-126	151	10	influencing	influence	VERB
emaj-126	151	11	the	the	DET
emaj-126	151	12	price	price	NOUN
emaj-126	151	13	of	of	ADP
emaj-126	151	14	gold	gold	NOUN
emaj-126	151	15	in	in	ADP
emaj-126	151	16	each	each	DET
emaj-126	151	17	market	market	NOUN
emaj-126	151	18	.	.	PUNCT
emaj-126	152	1	in	in	ADP
emaj-126	152	2	addition	addition	NOUN
emaj-126	152	3	,	,	PUNCT
emaj-126	152	4	turning	turn	VERB
emaj-126	152	5	to	to	ADP
emaj-126	152	6	gold	gold	NOUN
emaj-126	152	7	when	when	SCONJ
emaj-126	152	8	the	the	DET
emaj-126	152	9	market	market	NOUN
emaj-126	152	10	turns	turn	VERB
emaj-126	152	11	negative	negative	ADJ
emaj-126	152	12	may	may	AUX
emaj-126	152	13	not	not	PART
emaj-126	152	14	be	be	AUX
emaj-126	152	15	an	an	DET
emaj-126	152	16	effective	effective	ADJ
emaj-126	152	17	strategy	strategy	NOUN
emaj-126	152	18	,	,	PUNCT
emaj-126	152	19	because	because	SCONJ
emaj-126	152	20	according	accord	VERB
emaj-126	152	21	to	to	ADP
emaj-126	152	22	our	our	PRON
emaj-126	152	23	findings	finding	NOUN
emaj-126	152	24	,	,	PUNCT
emaj-126	152	25	the	the	DET
emaj-126	152	26	relationship	relationship	NOUN
emaj-126	152	27	between	between	ADP
emaj-126	152	28	gold	gold	NOUN
emaj-126	152	29	and	and	CCONJ
emaj-126	152	30	stock	stock	NOUN
emaj-126	152	31	market	market	NOUN
emaj-126	152	32	does	do	AUX
emaj-126	152	33	not	not	PART
emaj-126	152	34	follow	follow	VERB
emaj-126	152	35	different	different	ADJ
emaj-126	152	36	regimes	regime	NOUN
emaj-126	152	37	,	,	PUNCT
emaj-126	152	38	rather	rather	ADV
emaj-126	152	39	,	,	PUNCT
emaj-126	152	40	it	it	PRON
emaj-126	152	41	acts	act	VERB
emaj-126	152	42	as	as	ADP
emaj-126	152	43	a	a	DET
emaj-126	152	44	hedge	hedge	NOUN
emaj-126	152	45	,	,	PUNCT
emaj-126	152	46	and	and	CCONJ
emaj-126	152	47	to	to	PART
emaj-126	152	48	use	use	VERB
emaj-126	152	49	its	its	PRON
emaj-126	152	50	risk	risk	NOUN
emaj-126	152	51	reduction	reduction	NOUN
emaj-126	152	52	advantage	advantage	NOUN
emaj-126	152	53	,	,	PUNCT
emaj-126	152	54	it	it	PRON
emaj-126	152	55	is	be	AUX
emaj-126	152	56	better	well	ADJ
emaj-126	152	57	to	to	PART
emaj-126	152	58	always	always	ADV
emaj-126	152	59	allocate	allocate	VERB
emaj-126	152	60	a	a	DET
emaj-126	152	61	part	part	NOUN
emaj-126	152	62	of	of	ADP
emaj-126	152	63	the	the	DET
emaj-126	152	64	portfolio	portfolio	NOUN
emaj-126	152	65	to	to	ADP
emaj-126	152	66	it	it	PRON
emaj-126	152	67	.	.	PUNCT
emaj-126	153	1	finally	finally	ADV
emaj-126	153	2	,	,	PUNCT
emaj-126	153	3	since	since	SCONJ
emaj-126	153	4	the	the	DET
emaj-126	153	5	existence	existence	NOUN
emaj-126	153	6	of	of	ADP
emaj-126	153	7	regimes	regime	NOUN
emaj-126	153	8	is	be	AUX
emaj-126	153	9	specified	specify	VERB
emaj-126	153	10	based	base	VERB
emaj-126	153	11	on	on	ADP
emaj-126	153	12	the	the	DET
emaj-126	153	13	data	data	NOUN
emaj-126	153	14	characteristics	characteristic	NOUN
emaj-126	153	15	,	,	PUNCT
emaj-126	153	16	the	the	DET
emaj-126	153	17	type	type	NOUN
emaj-126	153	18	of	of	ADP
emaj-126	153	19	the	the	DET
emaj-126	153	20	relationship	relationship	NOUN
emaj-126	153	21	may	may	AUX
emaj-126	153	22	change	change	VERB
emaj-126	153	23	in	in	ADP
emaj-126	153	24	different	different	ADJ
emaj-126	153	25	periods	period	NOUN
emaj-126	153	26	or	or	CCONJ
emaj-126	153	27	in	in	ADP
emaj-126	153	28	different	different	ADJ
emaj-126	153	29	markets	market	NOUN
emaj-126	153	30	.	.	PUNCT
emaj-126	154	1	in	in	ADP
emaj-126	154	2	the	the	DET
emaj-126	154	3	present	present	ADJ
emaj-126	154	4	research	research	NOUN
emaj-126	154	5	,	,	PUNCT
emaj-126	154	6	we	we	PRON
emaj-126	154	7	considered	consider	VERB
emaj-126	154	8	a	a	DET
emaj-126	154	9	period	period	NOUN
emaj-126	154	10	in	in	ADP
emaj-126	154	11	which	which	PRON
emaj-126	154	12	no	no	DET
emaj-126	154	13	major	major	ADJ
emaj-126	154	14	structural	structural	ADJ
emaj-126	154	15	economic	economic	ADJ
emaj-126	154	16	changes	change	NOUN
emaj-126	154	17	occurred	occur	VERB
emaj-126	154	18	in	in	ADP
emaj-126	154	19	the	the	DET
emaj-126	154	20	u.s	u.s	PROPN
emaj-126	154	21	and	and	CCONJ
emaj-126	154	22	iran	iran	PROPN
emaj-126	154	23	.	.	PUNCT
emaj-126	155	1	references	reference	NOUN
emaj-126	155	2	bai	bai	PROPN
emaj-126	155	3	,	,	PUNCT
emaj-126	155	4	jushan	jushan	PROPN
emaj-126	155	5	,	,	PUNCT
emaj-126	155	6	and	and	CCONJ
emaj-126	155	7	pierre	pierre	PROPN
emaj-126	155	8	perron	perron	PROPN
emaj-126	155	9	.	.	PROPN
emaj-126	155	10	2003	2003	NUM
emaj-126	155	11	.	.	PUNCT
emaj-126	156	1	"	"	PUNCT
emaj-126	156	2	computation	computation	NOUN
emaj-126	156	3	and	and	CCONJ
emaj-126	156	4	analysis	analysis	NOUN
emaj-126	156	5	of	of	ADP
emaj-126	156	6	multiple	multiple	ADJ
emaj-126	156	7	structural	structural	ADJ
emaj-126	156	8	change	change	NOUN
emaj-126	156	9	models	model	NOUN
emaj-126	156	10	.	.	PUNCT
emaj-126	156	11	"	"	PUNCT
emaj-126	156	12	journal	journal	NOUN
emaj-126	156	13	of	of	ADP
emaj-126	156	14	applied	apply	VERB
emaj-126	156	15	econometrics	econometrics	NOUN
emaj-126	156	16	18	18	NUM
emaj-126	156	17	(	(	PUNCT
emaj-126	156	18	1	1	NUM
emaj-126	156	19	):	):	PUNCT
emaj-126	156	20	1	1	NUM
emaj-126	156	21	-	-	SYM
emaj-126	156	22	22	22	NUM
emaj-126	156	23	.	.	PUNCT
emaj-126	157	1	baur	baur	PROPN
emaj-126	157	2	,	,	PUNCT
emaj-126	157	3	dirk	dirk	PROPN
emaj-126	157	4	g.	g.	PROPN
emaj-126	157	5	,	,	PUNCT
emaj-126	157	6	and	and	CCONJ
emaj-126	157	7	thomas	thomas	PROPN
emaj-126	157	8	k.	k.	PROPN
emaj-126	157	9	mcdermott	mcdermott	PROPN
emaj-126	157	10	.	.	PROPN
emaj-126	157	11	2010	2010	NUM
emaj-126	157	12	.	.	PUNCT
emaj-126	158	1	"	"	PUNCT
emaj-126	158	2	is	be	AUX
emaj-126	158	3	gold	gold	NOUN
emaj-126	158	4	a	a	DET
emaj-126	158	5	safe	safe	ADJ
emaj-126	158	6	haven	haven	NOUN
emaj-126	158	7	?	?	PUNCT
emaj-126	159	1	international	international	ADJ
emaj-126	159	2	evidence	evidence	NOUN
emaj-126	159	3	.	.	PUNCT
emaj-126	159	4	"	"	PUNCT
emaj-126	160	1	journal	journal	NOUN
emaj-126	160	2	of	of	ADP
emaj-126	160	3	banking	banking	NOUN
emaj-126	160	4	&	&	CCONJ
emaj-126	160	5	finance	finance	PROPN
emaj-126	160	6	34	34	NUM
emaj-126	160	7	(	(	PUNCT
emaj-126	160	8	8)	8)	NUM
emaj-126	160	9	:	:	SYM
emaj-126	160	10	18861898	18861898	NUM
emaj-126	160	11	.	.	PUNCT
emaj-126	161	1	baur	baur	PROPN
emaj-126	161	2	,	,	PUNCT
emaj-126	161	3	drik	drik	PROPN
emaj-126	161	4	g	g	NOUN
emaj-126	161	5	,	,	PUNCT
emaj-126	161	6	and	and	CCONJ
emaj-126	161	7	brian	brian	PROPN
emaj-126	161	8	m	m	PROPN
emaj-126	161	9	lucey	lucey	PROPN
emaj-126	161	10	.	.	PUNCT
emaj-126	162	1	2010	2010	NUM
emaj-126	162	2	.	.	PUNCT
emaj-126	163	1	"	"	PUNCT
emaj-126	163	2	is	be	AUX
emaj-126	163	3	gold	gold	NOUN
emaj-126	163	4	a	a	DET
emaj-126	163	5	hedge	hedge	NOUN
emaj-126	163	6	or	or	CCONJ
emaj-126	163	7	a	a	DET
emaj-126	163	8	safe	safe	ADJ
emaj-126	163	9	haven	haven	NOUN
emaj-126	163	10	?	?	PUNCT
emaj-126	164	1	an	an	DET
emaj-126	164	2	analysis	analysis	NOUN
emaj-126	164	3	of	of	ADP
emaj-126	164	4	stocks	stock	NOUN
emaj-126	164	5	,	,	PUNCT
emaj-126	164	6	bonds	bond	NOUN
emaj-126	164	7	and	and	CCONJ
emaj-126	164	8	gold	gold	NOUN
emaj-126	164	9	.	.	PUNCT
emaj-126	164	10	"	"	PUNCT
emaj-126	165	1	the	the	DET
emaj-126	165	2	financial	financial	ADJ
emaj-126	165	3	review	review	NOUN
emaj-126	165	4	45	45	NUM
emaj-126	165	5	:	:	PUNCT
emaj-126	165	6	217	217	NUM
emaj-126	165	7	-	-	SYM
emaj-126	165	8	229	229	NUM
emaj-126	165	9	.	.	PUNCT
emaj-126	166	1	beckmann	beckmann	PROPN
emaj-126	166	2	,	,	PUNCT
emaj-126	166	3	joscha	joscha	PROPN
emaj-126	166	4	,	,	PUNCT
emaj-126	166	5	theo	theo	PROPN
emaj-126	166	6	berger	berger	PROPN
emaj-126	166	7	,	,	PUNCT
emaj-126	166	8	and	and	CCONJ
emaj-126	166	9	robert	robert	PROPN
emaj-126	166	10	czudaj	czudaj	NOUN
emaj-126	166	11	.	.	PUNCT
emaj-126	166	12	2015	2015	NUM
emaj-126	166	13	.	.	PUNCT
emaj-126	167	1	"	"	PUNCT
emaj-126	167	2	does	do	VERB
emaj-126	167	3	gold	gold	NOUN
emaj-126	167	4	act	act	NOUN
emaj-126	167	5	as	as	ADP
emaj-126	167	6	a	a	DET
emaj-126	167	7	hedge	hedge	NOUN
emaj-126	167	8	or	or	CCONJ
emaj-126	167	9	a	a	DET
emaj-126	167	10	safe	safe	ADJ
emaj-126	167	11	haven	haven	NOUN
emaj-126	167	12	for	for	ADP
emaj-126	167	13	stocks	stock	NOUN
emaj-126	167	14	?	?	PUNCT
emaj-126	168	1	a	a	DET
emaj-126	168	2	smooth	smooth	ADJ
emaj-126	168	3	transition	transition	NOUN
emaj-126	168	4	approach	approach	NOUN
emaj-126	168	5	.	.	PUNCT
emaj-126	168	6	"	"	PUNCT
emaj-126	169	1	economic	economic	ADJ
emaj-126	169	2	modelling	modelling	NOUN
emaj-126	169	3	48	48	NUM
emaj-126	169	4	:	:	SYM
emaj-126	169	5	16	16	NUM
emaj-126	169	6	-	-	SYM
emaj-126	169	7	24	24	NUM
emaj-126	169	8	.	.	PUNCT
emaj-126	170	1	brooks	brooks	PROPN
emaj-126	170	2	,	,	PUNCT
emaj-126	170	3	chris	chris	PROPN
emaj-126	170	4	.	.	PROPN
emaj-126	170	5	2008	2008	NUM
emaj-126	170	6	.	.	PUNCT
emaj-126	171	1	introductory	introductory	ADJ
emaj-126	171	2	econometrics	econometric	NOUN
emaj-126	171	3	for	for	ADP
emaj-126	171	4	finance	finance	NOUN
emaj-126	171	5	.	.	PUNCT
emaj-126	172	1	2nd	2nd	ADJ
emaj-126	172	2	.	.	PUNCT
emaj-126	173	1	cambridge	cambridge	PROPN
emaj-126	173	2	university	university	PROPN
emaj-126	173	3	press	press	NOUN
emaj-126	173	4	.	.	PUNCT
emaj-126	174	1	capie	capie	NOUN
emaj-126	174	2	,	,	PUNCT
emaj-126	174	3	f	f	PROPN
emaj-126	174	4	,	,	PUNCT
emaj-126	174	5	t.c	t.c	PROPN
emaj-126	174	6	.	.	PROPN
emaj-126	174	7	mills	mill	NOUN
emaj-126	174	8	,	,	PUNCT
emaj-126	174	9	and	and	CCONJ
emaj-126	174	10	g	g	PROPN
emaj-126	174	11	wood	wood	NOUN
emaj-126	174	12	.	.	PUNCT
emaj-126	175	1	2005	2005	NUM
emaj-126	175	2	.	.	PUNCT
emaj-126	176	1	"	"	PUNCT
emaj-126	176	2	gold	gold	NOUN
emaj-126	176	3	as	as	ADP
emaj-126	176	4	a	a	DET
emaj-126	176	5	hedge	hedge	NOUN
emaj-126	176	6	against	against	ADP
emaj-126	176	7	the	the	DET
emaj-126	176	8	dollar	dollar	NOUN
emaj-126	176	9	.	.	PUNCT
emaj-126	176	10	"	"	PUNCT
emaj-126	177	1	journal	journal	NOUN
emaj-126	177	2	of	of	ADP
emaj-126	177	3	international	international	ADJ
emaj-126	177	4	financial	financial	ADJ
emaj-126	177	5	markets	market	NOUN
emaj-126	177	6	15	15	NUM
emaj-126	177	7	(	(	PUNCT
emaj-126	177	8	4	4	NUM
emaj-126	177	9	):	):	PUNCT
emaj-126	177	10	343	343	NUM
emaj-126	177	11	–	–	PUNCT
emaj-126	177	12	352	352	NUM
emaj-126	177	13	.	.	PUNCT
emaj-126	178	1	gonzalo	gonzalo	PROPN
emaj-126	178	2	,	,	PUNCT
emaj-126	178	3	jesús	jesús	ADJ
emaj-126	178	4	,	,	PUNCT
emaj-126	178	5	and	and	CCONJ
emaj-126	178	6	jeanyves	jeanyve	VERB
emaj-126	178	7	pitarakis	pitaraki	NOUN
emaj-126	178	8	.	.	PUNCT
emaj-126	179	1	2013	2013	NUM
emaj-126	179	2	.	.	PUNCT
emaj-126	180	1	"	"	PUNCT
emaj-126	180	2	estimation	estimation	NOUN
emaj-126	180	3	and	and	CCONJ
emaj-126	180	4	inference	inference	NOUN
emaj-126	180	5	in	in	ADP
emaj-126	180	6	threshold	threshold	NOUN
emaj-126	180	7	type	type	NOUN
emaj-126	180	8	regime	regime	NOUN
emaj-126	180	9	switching	switch	VERB
emaj-126	180	10	models	model	NOUN
emaj-126	180	11	.	.	PUNCT
emaj-126	180	12	"	"	PUNCT
emaj-126	181	1	in	in	ADP
emaj-126	181	2	handbook	handbook	NOUN
emaj-126	181	3	of	of	ADP
emaj-126	181	4	research	research	NOUN
emaj-126	181	5	methods	method	NOUN
emaj-126	181	6	and	and	CCONJ
emaj-126	181	7	applications	application	NOUN
emaj-126	181	8	in	in	ADP
emaj-126	181	9	empirical	empirical	ADJ
emaj-126	181	10	macroeconomics	macroeconomic	NOUN
emaj-126	181	11	,	,	PUNCT
emaj-126	181	12	edited	edit	VERB
emaj-126	181	13	by	by	ADP
emaj-126	181	14	nigar	nigar	PROPN
emaj-126	181	15	hashimzade	hashimzade	PROPN
emaj-126	181	16	and	and	CCONJ
emaj-126	181	17	michael	michael	PROPN
emaj-126	181	18	a.	a.	PROPN
emaj-126	181	19	thornton	thornton	PROPN
emaj-126	181	20	,	,	PUNCT
emaj-126	181	21	189205	189205	NUM
emaj-126	181	22	.	.	PUNCT
emaj-126	182	1	edward	edward	PROPN
emaj-126	182	2	elgar	elgar	PROPN
emaj-126	182	3	publishing	publishing	PROPN
emaj-126	182	4	.	.	PUNCT
emaj-126	183	1	heirati	heirati	NOUN
emaj-126	183	2	,	,	PUNCT
emaj-126	183	3	nima	nima	PROPN
emaj-126	183	4	,	,	PUNCT
emaj-126	183	5	and	and	CCONJ
emaj-126	183	6	aron	aron	PROPN
emaj-126	183	7	o’cass	o’cass	PROPN
emaj-126	183	8	.	.	PROPN
emaj-126	183	9	2016	2016	NUM
emaj-126	183	10	.	.	PUNCT
emaj-126	184	1	"	"	PUNCT
emaj-126	184	2	supporting	support	VERB
emaj-126	184	3	new	new	ADJ
emaj-126	184	4	product	product	NOUN
emaj-126	184	5	commercialization	commercialization	NOUN
emaj-126	184	6	through	through	ADP
emaj-126	184	7	managerial	managerial	ADJ
emaj-126	184	8	social	social	ADJ
emaj-126	184	9	ties	tie	NOUN
emaj-126	184	10	and	and	CCONJ
emaj-126	184	11	market	market	NOUN
emaj-126	184	12	knowledge	knowledge	NOUN
emaj-126	184	13	development	development	NOUN
emaj-126	184	14	in	in	ADP
emaj-126	184	15	an	an	DET
emaj-126	184	16	emerging	emerge	VERB
emaj-126	184	17	economy	economy	NOUN
emaj-126	184	18	.	.	PUNCT
emaj-126	184	19	"	"	PUNCT
emaj-126	185	1	asia	asia	PROPN
emaj-126	185	2	pacific	pacific	PROPN
emaj-126	185	3	journal	journal	PROPN
emaj-126	185	4	of	of	ADP
emaj-126	185	5	management	management	NOUN
emaj-126	185	6	33	33	NUM
emaj-126	185	7	(	(	PUNCT
emaj-126	185	8	2	2	NUM
emaj-126	185	9	):	):	PUNCT
emaj-126	185	10	411–433	411–433	NUM
emaj-126	185	11	.	.	PUNCT
emaj-126	186	1	hood	hood	PROPN
emaj-126	186	2	,	,	PUNCT
emaj-126	186	3	matthew	matthew	PROPN
emaj-126	186	4	,	,	PUNCT
emaj-126	186	5	and	and	CCONJ
emaj-126	186	6	farooq	farooq	PROPN
emaj-126	186	7	malik	malik	PROPN
emaj-126	186	8	.	.	PUNCT
emaj-126	187	1	2013	2013	NUM
emaj-126	187	2	.	.	PUNCT
emaj-126	188	1	"	"	PUNCT
emaj-126	188	2	is	be	AUX
emaj-126	188	3	gold	gold	NOUN
emaj-126	188	4	the	the	DET
emaj-126	188	5	best	good	ADJ
emaj-126	188	6	hedge	hedge	NOUN
emaj-126	188	7	and	and	CCONJ
emaj-126	188	8	a	a	DET
emaj-126	188	9	safe	safe	ADJ
emaj-126	188	10	haven	haven	NOUN
emaj-126	188	11	under	under	ADP
emaj-126	188	12	changing	change	VERB
emaj-126	188	13	stock	stock	NOUN
emaj-126	188	14	market	market	NOUN
emaj-126	188	15	volatility	volatility	NOUN
emaj-126	188	16	?	?	PUNCT
emaj-126	188	17	"	"	PUNCT
emaj-126	189	1	review	review	NOUN
emaj-126	189	2	of	of	ADP
emaj-126	189	3	financial	financial	ADJ
emaj-126	189	4	economics	economic	NOUN
emaj-126	189	5	22	22	NUM
emaj-126	189	6	(	(	PUNCT
emaj-126	189	7	2	2	NUM
emaj-126	189	8	):	):	PUNCT
emaj-126	189	9	47	47	NUM
emaj-126	189	10	-	-	SYM
emaj-126	189	11	52	52	NUM
emaj-126	189	12	.	.	PUNCT
emaj-126	190	1	iqbal	iqbal	PROPN
emaj-126	190	2	,	,	PUNCT
emaj-126	190	3	javed	javed	PROPN
emaj-126	190	4	.	.	PUNCT
emaj-126	190	5	2017	2017	NUM
emaj-126	190	6	.	.	PUNCT
emaj-126	191	1	"	"	PUNCT
emaj-126	191	2	does	do	VERB
emaj-126	191	3	gold	gold	NOUN
emaj-126	191	4	hedge	hedge	NOUN
emaj-126	191	5	stock	stock	NOUN
emaj-126	191	6	market	market	NOUN
emaj-126	191	7	,	,	PUNCT
emaj-126	191	8	inflation	inflation	NOUN
emaj-126	191	9	and	and	CCONJ
emaj-126	191	10	exchange	exchange	NOUN
emaj-126	191	11	rate	rate	NOUN
emaj-126	191	12	risks	risk	NOUN
emaj-126	191	13	?	?	PUNCT
emaj-126	192	1	an	an	DET
emaj-126	192	2	econometric	econometric	ADJ
emaj-126	192	3	investigation	investigation	NOUN
emaj-126	192	4	.	.	PUNCT
emaj-126	192	5	"	"	PUNCT
emaj-126	193	1	international	international	ADJ
emaj-126	193	2	review	review	NOUN
emaj-126	193	3	of	of	ADP
emaj-126	193	4	economics	economic	NOUN
emaj-126	193	5	&	&	CCONJ
emaj-126	193	6	finance	finance	PROPN
emaj-126	193	7	48	48	NUM
emaj-126	193	8	:	:	SYM
emaj-126	193	9	1	1	NUM
emaj-126	193	10	-	-	SYM
emaj-126	193	11	17	17	NUM
emaj-126	193	12	.	.	PUNCT
emaj-126	194	1	kafash	kafash	PROPN
emaj-126	194	2	hoseini	hoseini	PROPN
emaj-126	194	3	,	,	PUNCT
emaj-126	194	4	eftekhar	eftekhar	VERB
emaj-126	194	5	sadat	sadat	NOUN
emaj-126	194	6	,	,	PUNCT
emaj-126	194	7	and	and	CCONJ
emaj-126	194	8	ali	ali	PROPN
emaj-126	194	9	rostami	rostami	NOUN
emaj-126	194	10	.	.	PUNCT
emaj-126	195	1	2013	2013	NUM
emaj-126	195	2	.	.	PUNCT
emaj-126	196	1	"	"	PUNCT
emaj-126	196	2	the	the	DET
emaj-126	196	3	effect	effect	NOUN
emaj-126	196	4	of	of	ADP
emaj-126	196	5	fluctuations	fluctuation	NOUN
emaj-126	196	6	of	of	ADP
emaj-126	196	7	the	the	DET
emaj-126	196	8	tehran	tehran	PROPN
emaj-126	196	9	stock	stock	PROPN
emaj-126	196	10	exchange	exchange	PROPN
emaj-126	196	11	index	index	NOUN
emaj-126	196	12	(	(	PUNCT
emaj-126	196	13	tedpix	tedpix	PROPN
emaj-126	196	14	)	)	PUNCT
emaj-126	196	15	on	on	ADP
emaj-126	196	16	return	return	NOUN
emaj-126	196	17	of	of	ADP
emaj-126	196	18	investment	investment	NOUN
emaj-126	196	19	in	in	ADP
emaj-126	196	20	gold	gold	NOUN
emaj-126	196	21	.	.	PUNCT
emaj-126	196	22	"	"	PUNCT
emaj-126	197	1	journal	journal	NOUN
emaj-126	197	2	of	of	ADP
emaj-126	197	3	investment	investment	NOUN
emaj-126	197	4	knowledge	knowledge	NOUN
emaj-126	197	5	(	(	PUNCT
emaj-126	197	6	in	in	ADP
emaj-126	197	7	persian	persian	ADJ
emaj-126	197	8	)	)	PUNCT
emaj-126	197	9	2	2	NUM
emaj-126	197	10	(	(	PUNCT
emaj-126	197	11	8)	8)	NUM
emaj-126	197	12	:	:	PUNCT
emaj-126	197	13	235	235	NUM
emaj-126	197	14	-	-	SYM
emaj-126	197	15	254	254	NUM
emaj-126	197	16	.	.	PUNCT
emaj-126	198	1	kaul	kaul	PROPN
emaj-126	198	2	,	,	PUNCT
emaj-126	198	3	aditya	aditya	PROPN
emaj-126	198	4	,	,	PUNCT
emaj-126	198	5	and	and	CCONJ
emaj-126	198	6	stephen	stephen	PROPN
emaj-126	198	7	sapp	sapp	PROPN
emaj-126	198	8	.	.	PROPN
emaj-126	198	9	2006	2006	NUM
emaj-126	198	10	.	.	PUNCT
emaj-126	199	1	"	"	PUNCT
emaj-126	199	2	y2k	y2k	PROPN
emaj-126	199	3	fears	fear	NOUN
emaj-126	199	4	and	and	CCONJ
emaj-126	199	5	safe	safe	ADJ
emaj-126	199	6	haven	haven	NOUN
emaj-126	199	7	trading	trading	NOUN
emaj-126	199	8	of	of	ADP
emaj-126	199	9	the	the	DET
emaj-126	199	10	us	us	PROPN
emaj-126	199	11	dollar	dollar	NOUN
emaj-126	199	12	.	.	PUNCT
emaj-126	199	13	"	"	PUNCT
emaj-126	200	1	journal	journal	NOUN
emaj-126	200	2	of	of	ADP
emaj-126	200	3	international	international	ADJ
emaj-126	200	4	money	money	NOUN
emaj-126	200	5	and	and	CCONJ
emaj-126	200	6	finance	finance	NOUN
emaj-126	200	7	25	25	NUM
emaj-126	200	8	(	(	PUNCT
emaj-126	200	9	5	5	NUM
emaj-126	200	10	):	):	PUNCT
emaj-126	200	11	760779	760779	NUM
emaj-126	200	12	.	.	PUNCT
emaj-126	201	1	volume	volume	NOUN
emaj-126	201	2	7	7	NUM
emaj-126	201	3	no	no	DET
emaj-126	201	4	1	1	NUM
emaj-126	201	5	(	(	PUNCT
emaj-126	201	6	2017	2017	NUM
emaj-126	201	7	)	)	PUNCT
emaj-126	201	8	|	|	ADV
emaj-126	201	9	issn	issn	VERB
emaj-126	201	10	2158	2158	NUM
emaj-126	201	11	-	-	SYM
emaj-126	201	12	8708	8708	NUM
emaj-126	201	13	(	(	PUNCT
emaj-126	201	14	online	online	NOUN
emaj-126	201	15	)	)	PUNCT
emaj-126	201	16	|	|	ADV
emaj-126	201	17	doi	doi	X
emaj-126	201	18	10.5195	10.5195	NUM
emaj-126	201	19	/	/	SYM
emaj-126	201	20	emaj.2017.126	emaj.2017.126	PROPN
emaj-126	201	21	|	|	NOUN
emaj-126	201	22	http://emaj.pitt.edu	http://emaj.pitt.edu	PROPN
emaj-126	201	23	jalal	jalal	PROPN
emaj-126	201	24	seifoddini	seifoddini	PROPN
emaj-126	201	25	,	,	PUNCT
emaj-126	201	26	fraydoon	fraydoon	NOUN
emaj-126	201	27	rahnamay	rahnamay	ADV
emaj-126	201	28	roodposhti	roodposhti	VERB
emaj-126	201	29	,	,	PUNCT
emaj-126	201	30	elahe	elahe	PROPN
emaj-126	201	31	kamali	kamali	ADJ
emaj-126	201	32	emerging	emerge	VERB
emaj-126	201	33	markets	market	NOUN
emaj-126	201	34	journal	journal	NOUN
emaj-126	201	35	|	|	ADV
emaj-126	201	36	p	p	NOUN
emaj-126	201	37	a	a	DET
emaj-126	201	38	g	g	NOUN
emaj-126	201	39	e	e	NOUN
emaj-126	201	40	|24	|24	NOUN
emaj-126	201	41	learn2succeed.com	learn2succeed.com	PROPN
emaj-126	201	42	inc	inc	PROPN
emaj-126	201	43	.	.	PROPN
emaj-126	201	44	2014	2014	NUM
emaj-126	201	45	.	.	PUNCT
emaj-126	202	1	gold	gold	NOUN
emaj-126	202	2	investing	investing	NOUN
emaj-126	202	3	for	for	ADP
emaj-126	202	4	beginners	beginner	NOUN
emaj-126	202	5	:	:	PUNCT
emaj-126	202	6	an	an	DET
emaj-126	202	7	opportunity	opportunity	NOUN
emaj-126	202	8	for	for	ADP
emaj-126	202	9	huge	huge	ADJ
emaj-126	202	10	gains	gain	NOUN
emaj-126	202	11	or	or	CCONJ
emaj-126	202	12	a	a	DET
emaj-126	202	13	bubble	bubble	NOUN
emaj-126	202	14	about	about	VERB
emaj-126	202	15	to	to	PART
emaj-126	202	16	burst	burst	VERB
emaj-126	202	17	?	?	PUNCT
emaj-126	203	1	productive	productive	ADJ
emaj-126	203	2	publications	publication	NOUN
emaj-126	203	3	.	.	PUNCT
emaj-126	204	1	lucey	lucey	PROPN
emaj-126	204	2	,	,	PUNCT
emaj-126	204	3	brian	brian	PROPN
emaj-126	204	4	m.	m.	PROPN
emaj-126	204	5	,	,	PUNCT
emaj-126	204	6	and	and	CCONJ
emaj-126	204	7	sile	sile	PROPN
emaj-126	204	8	li	li	PROPN
emaj-126	204	9	.	.	PROPN
emaj-126	204	10	2015	2015	NUM
emaj-126	204	11	.	.	PUNCT
emaj-126	205	1	"	"	PUNCT
emaj-126	205	2	what	what	DET
emaj-126	205	3	precious	precious	ADJ
emaj-126	205	4	metals	metal	NOUN
emaj-126	205	5	act	act	NOUN
emaj-126	205	6	as	as	ADP
emaj-126	205	7	safe	safe	ADJ
emaj-126	205	8	havens	haven	NOUN
emaj-126	205	9	,	,	PUNCT
emaj-126	205	10	and	and	CCONJ
emaj-126	205	11	when	when	SCONJ
emaj-126	205	12	?	?	PUNCT
emaj-126	206	1	some	some	DET
emaj-126	206	2	us	us	PROPN
emaj-126	206	3	evidence	evidence	NOUN
emaj-126	206	4	.	.	PUNCT
emaj-126	206	5	"	"	PUNCT
emaj-126	206	6	applied	apply	VERB
emaj-126	206	7	economics	economics	NOUN
emaj-126	206	8	letters	letter	NOUN
emaj-126	206	9	22	22	NUM
emaj-126	206	10	(	(	PUNCT
emaj-126	206	11	1	1	NUM
emaj-126	206	12	):	):	PUNCT
emaj-126	206	13	35	35	NUM
emaj-126	206	14	-	-	SYM
emaj-126	206	15	45	45	NUM
emaj-126	206	16	.	.	PUNCT
emaj-126	206	17	mccauley	mccauley	PROPN
emaj-126	206	18	,	,	PUNCT
emaj-126	206	19	robert	robert	PROPN
emaj-126	206	20	n.	n.	PROPN
emaj-126	206	21	,	,	PUNCT
emaj-126	206	22	and	and	CCONJ
emaj-126	206	23	patrick	patrick	PROPN
emaj-126	206	24	mcguire	mcguire	PROPN
emaj-126	206	25	.	.	PUNCT
emaj-126	206	26	2009	2009	NUM
emaj-126	206	27	.	.	PUNCT
emaj-126	207	1	"	"	PUNCT
emaj-126	207	2	dollar	dollar	NOUN
emaj-126	207	3	appreciation	appreciation	NOUN
emaj-126	207	4	in	in	ADP
emaj-126	207	5	2008	2008	NUM
emaj-126	207	6	:	:	PUNCT
emaj-126	207	7	safe	safe	ADJ
emaj-126	207	8	haven	haven	NOUN
emaj-126	207	9	,	,	PUNCT
emaj-126	207	10	carry	carry	VERB
emaj-126	207	11	trades	trade	NOUN
emaj-126	207	12	,	,	PUNCT
emaj-126	207	13	dollar	dollar	NOUN
emaj-126	207	14	shortage	shortage	NOUN
emaj-126	207	15	and	and	CCONJ
emaj-126	207	16	overhedging	overhedging	NOUN
emaj-126	207	17	.	.	PUNCT
emaj-126	207	18	"	"	PUNCT
emaj-126	207	19	bis	bi	VERB
emaj-126	207	20	quarterly	quarterly	ADJ
emaj-126	207	21	review	review	NOUN
emaj-126	207	22	december	december	PROPN
emaj-126	207	23	.	.	PUNCT
emaj-126	208	1	pierdzioch	pierdzioch	PROPN
emaj-126	208	2	,	,	PUNCT
emaj-126	208	3	christian	christian	PROPN
emaj-126	208	4	,	,	PUNCT
emaj-126	208	5	marian	marian	PROPN
emaj-126	208	6	risse	risse	PROPN
emaj-126	208	7	,	,	PUNCT
emaj-126	208	8	and	and	CCONJ
emaj-126	208	9	sebastian	sebastian	PROPN
emaj-126	208	10	rohloff	rohloff	PROPN
emaj-126	208	11	.	.	PUNCT
emaj-126	208	12	2016	2016	NUM
emaj-126	208	13	.	.	PUNCT
emaj-126	209	1	"	"	PUNCT
emaj-126	209	2	fluctuations	fluctuation	NOUN
emaj-126	209	3	of	of	ADP
emaj-126	209	4	the	the	DET
emaj-126	209	5	real	real	ADJ
emaj-126	209	6	exchange	exchange	NOUN
emaj-126	209	7	rate	rate	NOUN
emaj-126	209	8	,	,	PUNCT
emaj-126	209	9	real	real	ADJ
emaj-126	209	10	interest	interest	NOUN
emaj-126	209	11	rates	rate	NOUN
emaj-126	209	12	,	,	PUNCT
emaj-126	209	13	and	and	CCONJ
emaj-126	209	14	the	the	DET
emaj-126	209	15	dynamics	dynamic	NOUN
emaj-126	209	16	of	of	ADP
emaj-126	209	17	the	the	DET
emaj-126	209	18	price	price	NOUN
emaj-126	209	19	of	of	ADP
emaj-126	209	20	gold	gold	NOUN
emaj-126	209	21	in	in	ADP
emaj-126	209	22	a	a	DET
emaj-126	209	23	small	small	ADJ
emaj-126	209	24	open	open	ADJ
emaj-126	209	25	economy	economy	NOUN
emaj-126	209	26	.	.	PUNCT
emaj-126	209	27	"	"	PUNCT
emaj-126	210	1	empirical	empirical	ADJ
emaj-126	210	2	economics	economic	NOUN
emaj-126	210	3	51	51	NUM
emaj-126	210	4	(	(	PUNCT
emaj-126	210	5	4	4	NUM
emaj-126	210	6	):	):	SYM
emaj-126	210	7	1481	1481	NUM
emaj-126	210	8	–	–	PUNCT
emaj-126	210	9	1499	1499	NUM
emaj-126	210	10	.	.	PUNCT
emaj-126	211	1	pradhan	pradhan	PROPN
emaj-126	211	2	,	,	PUNCT
emaj-126	211	3	rudra	rudra	PROPN
emaj-126	211	4	p.	p.	PROPN
emaj-126	211	5	,	,	PUNCT
emaj-126	211	6	mak	mak	PROPN
emaj-126	211	7	b.	b.	PROPN
emaj-126	211	8	arvin	arvin	PROPN
emaj-126	211	9	,	,	PUNCT
emaj-126	211	10	neville	neville	PROPN
emaj-126	211	11	r.	r.	PROPN
emaj-126	211	12	norman	norman	PROPN
emaj-126	211	13	,	,	PUNCT
emaj-126	211	14	and	and	CCONJ
emaj-126	211	15	sara	sara	PROPN
emaj-126	211	16	e.	e.	PROPN
emaj-126	211	17	bennett	bennett	PROPN
emaj-126	211	18	.	.	PUNCT
emaj-126	211	19	2016	2016	NUM
emaj-126	211	20	.	.	PUNCT
emaj-126	212	1	"	"	PUNCT
emaj-126	212	2	financial	financial	ADJ
emaj-126	212	3	depth	depth	NOUN
emaj-126	212	4	,	,	PUNCT
emaj-126	212	5	internet	internet	NOUN
emaj-126	212	6	penetration	penetration	NOUN
emaj-126	212	7	rates	rate	NOUN
emaj-126	212	8	and	and	CCONJ
emaj-126	212	9	economic	economic	ADJ
emaj-126	212	10	growth	growth	NOUN
emaj-126	212	11	:	:	PUNCT
emaj-126	212	12	country	country	NOUN
emaj-126	212	13	-	-	PUNCT
emaj-126	212	14	panel	panel	NOUN
emaj-126	212	15	evidence	evidence	NOUN
emaj-126	212	16	.	.	PUNCT
emaj-126	212	17	"	"	PUNCT
emaj-126	212	18	applied	apply	VERB
emaj-126	212	19	economics	economic	NOUN
emaj-126	212	20	48	48	NUM
emaj-126	212	21	(	(	PUNCT
emaj-126	212	22	4	4	NUM
emaj-126	212	23	):	):	PUNCT
emaj-126	212	24	331	331	NUM
emaj-126	212	25	-	-	SYM
emaj-126	212	26	343	343	NUM
emaj-126	212	27	.	.	PUNCT
emaj-126	213	1	rancic	rancic	PROPN
emaj-126	213	2	,	,	PUNCT
emaj-126	213	3	nemanja	nemanja	PROPN
emaj-126	213	4	,	,	PUNCT
emaj-126	213	5	and	and	CCONJ
emaj-126	213	6	mihajlo	mihajlo	NOUN
emaj-126	213	7	michael	michael	PROPN
emaj-126	213	8	jakovljevic	jakovljevic	PROPN
emaj-126	213	9	.	.	PUNCT
emaj-126	214	1	2016	2016	NUM
emaj-126	214	2	.	.	PUNCT
emaj-126	215	1	"	"	PUNCT
emaj-126	215	2	long	long	ADJ
emaj-126	215	3	term	term	NOUN
emaj-126	215	4	health	health	NOUN
emaj-126	215	5	spending	spending	NOUN
emaj-126	215	6	alongside	alongside	ADP
emaj-126	215	7	population	population	NOUN
emaj-126	215	8	aging	age	VERB
emaj-126	215	9	in	in	ADP
emaj-126	215	10	n-11	n-11	NOUN
emaj-126	215	11	emerging	emerge	VERB
emaj-126	215	12	nations	nation	NOUN
emaj-126	215	13	.	.	PUNCT
emaj-126	215	14	"	"	PUNCT
emaj-126	216	1	eastern	eastern	ADJ
emaj-126	216	2	european	european	ADJ
emaj-126	216	3	business	business	PROPN
emaj-126	216	4	and	and	CCONJ
emaj-126	216	5	economics	economic	NOUN
emaj-126	216	6	journal	journal	NOUN
emaj-126	216	7	2	2	NUM
emaj-126	216	8	(	(	PUNCT
emaj-126	216	9	1	1	NUM
emaj-126	216	10	):	):	PUNCT
emaj-126	216	11	2	2	NUM
emaj-126	216	12	-	-	SYM
emaj-126	216	13	26	26	NUM
emaj-126	216	14	.	.	PUNCT
emaj-126	217	1	samadi	samadi	PROPN
emaj-126	217	2	,	,	PUNCT
emaj-126	217	3	saeed	saeed	PROPN
emaj-126	217	4	,	,	PUNCT
emaj-126	217	5	nasrin	nasrin	PROPN
emaj-126	217	6	ebrahimmi	ebrahimmi	PROPN
emaj-126	217	7	,	,	PUNCT
emaj-126	217	8	and	and	CCONJ
emaj-126	217	9	fariba	fariba	PROPN
emaj-126	217	10	aghili	aghili	NOUN
emaj-126	217	11	.	.	PUNCT
emaj-126	218	1	2015	2015	NUM
emaj-126	218	2	.	.	PUNCT
emaj-126	219	1	"	"	PUNCT
emaj-126	219	2	the	the	DET
emaj-126	219	3	effect	effect	NOUN
emaj-126	219	4	of	of	ADP
emaj-126	219	5	exchange	exchange	NOUN
emaj-126	219	6	rate	rate	NOUN
emaj-126	219	7	fluctuations	fluctuation	NOUN
emaj-126	219	8	on	on	ADP
emaj-126	219	9	the	the	DET
emaj-126	219	10	stock	stock	NOUN
emaj-126	219	11	market	market	NOUN
emaj-126	219	12	index	index	NOUN
emaj-126	219	13	and	and	CCONJ
emaj-126	219	14	the	the	DET
emaj-126	219	15	price	price	NOUN
emaj-126	219	16	of	of	ADP
emaj-126	219	17	gold	gold	NOUN
emaj-126	219	18	coins	coin	NOUN
emaj-126	219	19	.	.	PUNCT
emaj-126	219	20	"	"	PUNCT
emaj-126	220	1	financial	financial	ADJ
emaj-126	220	2	monetary	monetary	ADJ
emaj-126	220	3	economics	economic	NOUN
emaj-126	220	4	(	(	PUNCT
emaj-126	220	5	in	in	ADP
emaj-126	220	6	persian	persian	ADJ
emaj-126	220	7	)	)	PUNCT
emaj-126	220	8	22	22	NUM
emaj-126	220	9	(	(	PUNCT
emaj-126	220	10	9	9	NUM
emaj-126	220	11	):	):	PUNCT
emaj-126	220	12	57	57	NUM
emaj-126	220	13	-	-	SYM
emaj-126	220	14	73	73	NUM
emaj-126	220	15	.	.	PUNCT
emaj-126	221	1	upper	upper	ADJ
emaj-126	221	2	,	,	PUNCT
emaj-126	221	3	christian	christian	PROPN
emaj-126	221	4	.	.	PUNCT
emaj-126	222	1	2000	2000	NUM
emaj-126	222	2	.	.	PUNCT
emaj-126	223	1	how	how	SCONJ
emaj-126	223	2	safe	safe	ADJ
emaj-126	223	3	was	be	AUX
emaj-126	223	4	the'safe	the'safe	DET
emaj-126	223	5	haven	haven	NOUN
emaj-126	223	6	'	'	PUNCT
emaj-126	223	7	?	?	PUNCT
emaj-126	224	1	financial	financial	ADJ
emaj-126	224	2	market	market	NOUN
emaj-126	224	3	liquidity	liquidity	NOUN
emaj-126	224	4	during	during	ADP
emaj-126	224	5	the	the	DET
emaj-126	224	6	1998	1998	NUM
emaj-126	224	7	turbulences	turbulence	NOUN
emaj-126	224	8	.	.	PUNCT
emaj-126	225	1	working	working	NOUN
emaj-126	225	2	paper	paper	PROPN
emaj-126	225	3	no	no	NOUN
emaj-126	225	4	.	.	PROPN
emaj-126	225	5	1/00	1/00	NUM
emaj-126	225	6	,	,	PUNCT
emaj-126	225	7	deutsche	deutsche	PROPN
emaj-126	225	8	bundesbank	bundesbank	PROPN
emaj-126	225	9	.	.	PUNCT
emaj-126	226	1	world	world	PROPN
emaj-126	226	2	gold	gold	PROPN
emaj-126	226	3	council	council	PROPN
emaj-126	226	4	.	.	PUNCT
emaj-126	227	1	2016	2016	NUM
emaj-126	227	2	.	.	PUNCT
emaj-126	228	1	gold	gold	NOUN
emaj-126	228	2	demand	demand	NOUN
emaj-126	228	3	trends	trend	NOUN
emaj-126	228	4	third	third	ADJ
emaj-126	228	5	quarter	quarter	NOUN
emaj-126	228	6	2016	2016	NUM
emaj-126	228	7	.	.	PUNCT
emaj-126	229	1	world	world	PROPN
emaj-126	229	2	gold	gold	PROPN
emaj-126	229	3	council	council	PROPN
emaj-126	229	4	.	.	PUNCT