id	sid	tid	token	lemma	pos
ejpam-799	1	1	9_xxx_kim.dvi	9_xxx_kim.dvi	NUM
ejpam-799	1	2	european	european	ADJ
ejpam-799	1	3	journal	journal	NOUN
ejpam-799	1	4	of	of	ADP
ejpam-799	1	5	pure	pure	ADJ
ejpam-799	1	6	and	and	CCONJ
ejpam-799	1	7	applied	apply	VERB
ejpam-799	1	8	mathematics	mathematic	NOUN
ejpam-799	1	9	vol	vol	NOUN
ejpam-799	1	10	.	.	PUNCT
ejpam-799	2	1	3	3	NUM
ejpam-799	2	2	,	,	PUNCT
ejpam-799	2	3	no	no	INTJ
ejpam-799	2	4	.	.	NOUN
ejpam-799	2	5	3	3	NUM
ejpam-799	2	6	,	,	PUNCT
ejpam-799	2	7	2010	2010	NUM
ejpam-799	2	8	,	,	PUNCT
ejpam-799	2	9	502	502	NUM
ejpam-799	2	10	-	-	SYM
ejpam-799	2	11	518	518	NUM
ejpam-799	2	12	issn	issn	PROPN
ejpam-799	2	13	1307	1307	NUM
ejpam-799	2	14	-	-	SYM
ejpam-799	2	15	5543	5543	NUM
ejpam-799	2	16	–	–	PUNCT
ejpam-799	2	17	www.ejpam.com	www.ejpam.com	X
ejpam-799	2	18	special	special	ADJ
ejpam-799	2	19	issue	issue	NOUN
ejpam-799	2	20	on	on	ADP
ejpam-799	2	21	granger	granger	PROPN
ejpam-799	2	22	econometrics	econometric	NOUN
ejpam-799	2	23	and	and	CCONJ
ejpam-799	2	24	statistical	statistical	ADJ
ejpam-799	2	25	modeling	modeling	NOUN
ejpam-799	2	26	dedicated	dedicate	VERB
ejpam-799	2	27	to	to	ADP
ejpam-799	2	28	the	the	DET
ejpam-799	2	29	memory	memory	NOUN
ejpam-799	2	30	of	of	ADP
ejpam-799	2	31	prof	prof	NOUN
ejpam-799	2	32	.	.	PUNCT
ejpam-799	3	1	sir	sir	PROPN
ejpam-799	3	2	clive	clive	PROPN
ejpam-799	3	3	w.j	w.j	PROPN
ejpam-799	3	4	.	.	PROPN
ejpam-799	4	1	granger	granger	PROPN
ejpam-799	4	2	variance	variance	PROPN
ejpam-799	4	3	-	-	PUNCT
ejpam-799	4	4	ratio	ratio	NOUN
ejpam-799	4	5	tests	test	NOUN
ejpam-799	4	6	robust	robust	ADJ
ejpam-799	4	7	to	to	ADP
ejpam-799	4	8	a	a	DET
ejpam-799	4	9	break	break	NOUN
ejpam-799	4	10	in	in	ADP
ejpam-799	4	11	drift	drift	NOUN
ejpam-799	4	12	yunmi	yunmi	NOUN
ejpam-799	4	13	kim1	kim1	PROPN
ejpam-799	4	14	and	and	CCONJ
ejpam-799	4	15	tae	tae	PROPN
ejpam-799	4	16	-	-	PUNCT
ejpam-799	4	17	hwan	hwan	PROPN
ejpam-799	4	18	kim2∗	kim2∗	PROPN
ejpam-799	4	19	1	1	NUM
ejpam-799	4	20	department	department	NOUN
ejpam-799	4	21	of	of	ADP
ejpam-799	4	22	economics	economic	NOUN
ejpam-799	4	23	,	,	PUNCT
ejpam-799	4	24	university	university	NOUN
ejpam-799	4	25	of	of	ADP
ejpam-799	4	26	manitoba	manitoba	PROPN
ejpam-799	4	27	,	,	PUNCT
ejpam-799	4	28	canada	canada	PROPN
ejpam-799	4	29	2	2	NUM
ejpam-799	4	30	school	school	NOUN
ejpam-799	4	31	of	of	ADP
ejpam-799	4	32	economics	economic	NOUN
ejpam-799	4	33	,	,	PUNCT
ejpam-799	4	34	yonsei	yonsei	PROPN
ejpam-799	4	35	university	university	PROPN
ejpam-799	4	36	,	,	PUNCT
ejpam-799	4	37	134	134	NUM
ejpam-799	4	38	shinchon	shinchon	NOUN
ejpam-799	4	39	-	-	PUNCT
ejpam-799	4	40	dong	dong	NOUN
ejpam-799	4	41	,	,	PUNCT
ejpam-799	4	42	seodaemun	seodaemun	NOUN
ejpam-799	4	43	-	-	PUNCT
ejpam-799	4	44	gu	gu	NOUN
ejpam-799	4	45	,	,	PUNCT
ejpam-799	4	46	seoul	seoul	PROPN
ejpam-799	4	47	120	120	NUM
ejpam-799	4	48	-	-	SYM
ejpam-799	4	49	749	749	NUM
ejpam-799	4	50	,	,	PUNCT
ejpam-799	4	51	korea	korea	PROPN
ejpam-799	4	52	abstract	abstract	NOUN
ejpam-799	4	53	.	.	PUNCT
ejpam-799	5	1	we	we	PRON
ejpam-799	5	2	consider	consider	VERB
ejpam-799	5	3	a	a	DET
ejpam-799	5	4	simple	simple	ADJ
ejpam-799	5	5	random	random	ADJ
ejpam-799	5	6	walk	walk	NOUN
ejpam-799	5	7	process	process	NOUN
ejpam-799	5	8	which	which	PRON
ejpam-799	5	9	exhibits	exhibit	VERB
ejpam-799	5	10	a	a	DET
ejpam-799	5	11	deterministic	deterministic	ADJ
ejpam-799	5	12	break	break	NOUN
ejpam-799	5	13	in	in	ADP
ejpam-799	5	14	its	its	PRON
ejpam-799	5	15	drift	drift	NOUN
ejpam-799	5	16	term	term	NOUN
ejpam-799	5	17	:	:	PUNCT
ejpam-799	5	18	for	for	ADP
ejpam-799	5	19	instance	instance	NOUN
ejpam-799	5	20	,	,	PUNCT
ejpam-799	5	21	from	from	ADP
ejpam-799	5	22	positive	positive	ADJ
ejpam-799	5	23	to	to	PART
ejpam-799	5	24	negative	negative	VERB
ejpam-799	5	25	.	.	PUNCT
ejpam-799	6	1	we	we	PRON
ejpam-799	6	2	demonstrate	demonstrate	VERB
ejpam-799	6	3	both	both	PRON
ejpam-799	6	4	theoretically	theoretically	ADV
ejpam-799	6	5	and	and	CCONJ
ejpam-799	6	6	by	by	ADP
ejpam-799	6	7	simulation	simulation	NOUN
ejpam-799	6	8	that	that	SCONJ
ejpam-799	6	9	when	when	SCONJ
ejpam-799	6	10	the	the	DET
ejpam-799	6	11	standard	standard	ADJ
ejpam-799	6	12	variance	variance	NOUN
ejpam-799	6	13	ratio	ratio	NOUN
ejpam-799	6	14	test	test	NOUN
ejpam-799	6	15	is	be	AUX
ejpam-799	6	16	applied	apply	VERB
ejpam-799	6	17	to	to	ADP
ejpam-799	6	18	this	this	DET
ejpam-799	6	19	process	process	NOUN
ejpam-799	6	20	,	,	PUNCT
ejpam-799	6	21	the	the	DET
ejpam-799	6	22	phenomenon	phenomenon	NOUN
ejpam-799	6	23	of	of	ADP
ejpam-799	6	24	spurious	spurious	ADJ
ejpam-799	6	25	rejections	rejection	NOUN
ejpam-799	6	26	of	of	ADP
ejpam-799	6	27	the	the	DET
ejpam-799	6	28	random	random	ADJ
ejpam-799	6	29	walk	walk	NOUN
ejpam-799	6	30	hypothesis	hypothesis	NOUN
ejpam-799	6	31	can	can	AUX
ejpam-799	6	32	occur	occur	VERB
ejpam-799	6	33	.	.	PUNCT
ejpam-799	7	1	we	we	PRON
ejpam-799	7	2	further	far	ADV
ejpam-799	7	3	propose	propose	VERB
ejpam-799	7	4	a	a	DET
ejpam-799	7	5	modified	modify	VERB
ejpam-799	7	6	version	version	NOUN
ejpam-799	7	7	of	of	ADP
ejpam-799	7	8	the	the	DET
ejpam-799	7	9	variance	variance	NOUN
ejpam-799	7	10	ratio	ratio	NOUN
ejpam-799	7	11	test	test	NOUN
ejpam-799	7	12	to	to	PART
ejpam-799	7	13	avoid	avoid	VERB
ejpam-799	7	14	such	such	DET
ejpam-799	7	15	a	a	DET
ejpam-799	7	16	problem	problem	NOUN
ejpam-799	7	17	.	.	PUNCT
ejpam-799	8	1	finally	finally	ADV
ejpam-799	8	2	,	,	PUNCT
ejpam-799	8	3	we	we	PRON
ejpam-799	8	4	discuss	discuss	VERB
ejpam-799	8	5	some	some	DET
ejpam-799	8	6	implications	implication	NOUN
ejpam-799	8	7	of	of	ADP
ejpam-799	8	8	this	this	DET
ejpam-799	8	9	finding	finding	NOUN
ejpam-799	8	10	on	on	ADP
ejpam-799	8	11	the	the	DET
ejpam-799	8	12	previously	previously	ADV
ejpam-799	8	13	revealed	reveal	VERB
ejpam-799	8	14	empirical	empirical	ADJ
ejpam-799	8	15	evidence	evidence	NOUN
ejpam-799	8	16	against	against	ADP
ejpam-799	8	17	the	the	DET
ejpam-799	8	18	random	random	ADJ
ejpam-799	8	19	walk	walk	NOUN
ejpam-799	8	20	hypothesis	hypothesis	NOUN
ejpam-799	8	21	for	for	ADP
ejpam-799	8	22	exchange	exchange	NOUN
ejpam-799	8	23	rates	rate	NOUN
ejpam-799	8	24	.	.	PUNCT
ejpam-799	9	1	2000	2000	NUM
ejpam-799	9	2	mathematics	mathematic	NOUN
ejpam-799	9	3	subject	subject	NOUN
ejpam-799	9	4	classifications	classification	NOUN
ejpam-799	9	5	:	:	PUNCT
ejpam-799	9	6	62	62	NUM
ejpam-799	9	7	key	key	ADJ
ejpam-799	9	8	words	word	NOUN
ejpam-799	9	9	and	and	CCONJ
ejpam-799	9	10	phrases	phrase	NOUN
ejpam-799	9	11	:	:	PUNCT
ejpam-799	9	12	random	random	ADJ
ejpam-799	9	13	walk	walk	NOUN
ejpam-799	9	14	hypothesis	hypothesis	NOUN
ejpam-799	9	15	;	;	PUNCT
ejpam-799	9	16	variance	variance	NOUN
ejpam-799	9	17	ratio	ratio	NOUN
ejpam-799	9	18	tests	test	NOUN
ejpam-799	9	19	;	;	PUNCT
ejpam-799	9	20	spurious	spurious	ADJ
ejpam-799	9	21	rejection	rejection	NOUN
ejpam-799	9	22	;	;	PUNCT
ejpam-799	9	23	exchange	exchange	NOUN
ejpam-799	9	24	rates	rate	NOUN
ejpam-799	9	25	1	1	NUM
ejpam-799	9	26	.	.	PUNCT
ejpam-799	10	1	introduction	introduction	NOUN
ejpam-799	10	2	the	the	DET
ejpam-799	10	3	random	random	ADJ
ejpam-799	10	4	walk	walk	NOUN
ejpam-799	10	5	model	model	NOUN
ejpam-799	10	6	plays	play	VERB
ejpam-799	10	7	an	an	DET
ejpam-799	10	8	important	important	ADJ
ejpam-799	10	9	role	role	NOUN
ejpam-799	10	10	in	in	ADP
ejpam-799	10	11	many	many	ADJ
ejpam-799	10	12	areas	area	NOUN
ejpam-799	10	13	of	of	ADP
ejpam-799	10	14	finance	finance	NOUN
ejpam-799	10	15	and	and	CCONJ
ejpam-799	10	16	economics	economic	NOUN
ejpam-799	10	17	.	.	PUNCT
ejpam-799	11	1	one	one	NUM
ejpam-799	11	2	example	example	NOUN
ejpam-799	11	3	is	be	AUX
ejpam-799	11	4	the	the	DET
ejpam-799	11	5	efficient	efficient	ADJ
ejpam-799	11	6	market	market	NOUN
ejpam-799	11	7	hypothesis	hypothesis	NOUN
ejpam-799	11	8	that	that	SCONJ
ejpam-799	11	9	if	if	SCONJ
ejpam-799	11	10	a	a	DET
ejpam-799	11	11	capital	capital	NOUN
ejpam-799	11	12	market	market	NOUN
ejpam-799	11	13	(	(	PUNCT
ejpam-799	11	14	or	or	CCONJ
ejpam-799	11	15	foreign	foreign	ADJ
ejpam-799	11	16	exchange	exchange	NOUN
ejpam-799	11	17	market	market	NOUN
ejpam-799	11	18	)	)	PUNCT
ejpam-799	11	19	is	be	AUX
ejpam-799	11	20	efficient	efficient	ADJ
ejpam-799	11	21	,	,	PUNCT
ejpam-799	11	22	then	then	ADV
ejpam-799	11	23	all	all	DET
ejpam-799	11	24	relevant	relevant	ADJ
ejpam-799	11	25	information	information	NOUN
ejpam-799	11	26	is	be	AUX
ejpam-799	11	27	fully	fully	ADV
ejpam-799	11	28	reflected	reflect	VERB
ejpam-799	11	29	in	in	ADP
ejpam-799	11	30	the	the	DET
ejpam-799	11	31	current	current	ADJ
ejpam-799	11	32	level	level	NOUN
ejpam-799	11	33	of	of	ADP
ejpam-799	11	34	stock	stock	NOUN
ejpam-799	11	35	prices	price	NOUN
ejpam-799	11	36	or	or	CCONJ
ejpam-799	11	37	exchange	exchange	NOUN
ejpam-799	11	38	rates	rate	NOUN
ejpam-799	11	39	,	,	PUNCT
ejpam-799	11	40	and	and	CCONJ
ejpam-799	11	41	unexpected	unexpected	ADJ
ejpam-799	11	42	news	news	NOUN
ejpam-799	11	43	is	be	AUX
ejpam-799	11	44	the	the	DET
ejpam-799	11	45	sole	sole	ADJ
ejpam-799	11	46	determinant	determinant	ADJ
ejpam-799	11	47	for	for	ADP
ejpam-799	11	48	causing	cause	VERB
ejpam-799	11	49	any	any	DET
ejpam-799	11	50	changes	change	NOUN
ejpam-799	11	51	.	.	PUNCT
ejpam-799	12	1	therefore	therefore	ADV
ejpam-799	12	2	,	,	PUNCT
ejpam-799	12	3	changes	change	NOUN
ejpam-799	12	4	of	of	ADP
ejpam-799	12	5	stock	stock	NOUN
ejpam-799	12	6	prices	price	NOUN
ejpam-799	12	7	or	or	CCONJ
ejpam-799	12	8	exchange	exchange	NOUN
ejpam-799	12	9	rates	rate	NOUN
ejpam-799	12	10	are	be	AUX
ejpam-799	12	11	not	not	PART
ejpam-799	12	12	predictable	predictable	ADJ
ejpam-799	12	13	,	,	PUNCT
ejpam-799	12	14	and	and	CCONJ
ejpam-799	12	15	the	the	DET
ejpam-799	12	16	efficient	efficient	ADJ
ejpam-799	12	17	market	market	NOUN
ejpam-799	12	18	hypothesis	hypothesis	NOUN
ejpam-799	12	19	is	be	AUX
ejpam-799	12	20	usually	usually	ADV
ejpam-799	12	21	modelled	model	VERB
ejpam-799	12	22	by	by	ADP
ejpam-799	12	23	postulating	postulate	VERB
ejpam-799	12	24	that	that	SCONJ
ejpam-799	12	25	the	the	DET
ejpam-799	12	26	time	time	NOUN
ejpam-799	12	27	series	series	NOUN
ejpam-799	12	28	of	of	ADP
ejpam-799	12	29	interest	interest	NOUN
ejpam-799	12	30	follows	follow	VERB
ejpam-799	12	31	the	the	DET
ejpam-799	12	32	random	random	ADJ
ejpam-799	12	33	walk	walk	NOUN
ejpam-799	12	34	process	process	NOUN
ejpam-799	12	35	.	.	PUNCT
ejpam-799	13	1	since	since	SCONJ
ejpam-799	13	2	the	the	DET
ejpam-799	13	3	seminal	seminal	ADJ
ejpam-799	13	4	work	work	NOUN
ejpam-799	13	5	of	of	ADP
ejpam-799	13	6	[	[	X
ejpam-799	13	7	4	4	NUM
ejpam-799	13	8	]	]	PUNCT
ejpam-799	13	9	and	and	CCONJ
ejpam-799	13	10	[	[	X
ejpam-799	13	11	10	10	NUM
ejpam-799	13	12	,	,	PUNCT
ejpam-799	13	13	11	11	NUM
ejpam-799	13	14	]	]	PUNCT
ejpam-799	13	15	,	,	PUNCT
ejpam-799	13	16	the	the	DET
ejpam-799	13	17	standard	standard	ADJ
ejpam-799	13	18	variance	variance	NOUN
ejpam-799	13	19	ratio	ratio	NOUN
ejpam-799	13	20	(	(	PUNCT
ejpam-799	13	21	vr	vr	NOUN
ejpam-799	13	22	)	)	PUNCT
ejpam-799	13	23	test	test	NOUN
ejpam-799	13	24	or	or	CCONJ
ejpam-799	13	25	its	its	PRON
ejpam-799	13	26	improved	improve	VERB
ejpam-799	13	27	modifications	modification	NOUN
ejpam-799	13	28	have	have	AUX
ejpam-799	13	29	been	be	AUX
ejpam-799	13	30	widely	widely	ADV
ejpam-799	13	31	used	use	VERB
ejpam-799	13	32	to	to	PART
ejpam-799	13	33	test	test	VERB
ejpam-799	13	34	the	the	DET
ejpam-799	13	35	random	random	ADJ
ejpam-799	13	36	walk	walk	NOUN
ejpam-799	13	37	hypothesis	hypothesis	NOUN
ejpam-799	13	38	.	.	PUNCT
ejpam-799	14	1	for	for	ADP
ejpam-799	14	2	∗corresponding	∗corresponde	VERB
ejpam-799	14	3	author	author	NOUN
ejpam-799	14	4	.	.	PUNCT
ejpam-799	15	1	email	email	NOUN
ejpam-799	15	2	address	address	NOUN
ejpam-799	15	3	:	:	PUNCT
ejpam-799	15	4	tae	tae	PROPN
ejpam-799	15	5	-	-	PUNCT
ejpam-799	15	6	hwan.kim	hwan.kim	NOUN
ejpam-799	15	7	�	�	PROPN
ejpam-799	15	8	yonsei.a	yonsei.a	NOUN
ejpam-799	15	9	.kr	.kr	PUNCT
ejpam-799	16	1	(	(	PUNCT
ejpam-799	16	2	t.	t.	PROPN
ejpam-799	16	3	kim	kim	PROPN
ejpam-799	16	4	)	)	PUNCT
ejpam-799	16	5	http://www.ejpam.com	http://www.ejpam.com	X
ejpam-799	17	1	502	502	NUM
ejpam-799	18	1	c	c	X
ejpam-799	18	2	©	©	VERB
ejpam-799	18	3	2010	2010	NUM
ejpam-799	18	4	ejpam	ejpam	NOUN
ejpam-799	18	5	all	all	DET
ejpam-799	18	6	rights	right	NOUN
ejpam-799	18	7	reserved	reserve	VERB
ejpam-799	18	8	.	.	PUNCT
ejpam-799	19	1	y.	y.	PROPN
ejpam-799	19	2	kim	kim	PROPN
ejpam-799	19	3	and	and	CCONJ
ejpam-799	19	4	t.	t.	PROPN
ejpam-799	19	5	kim	kim	PROPN
ejpam-799	19	6	/	/	SYM
ejpam-799	19	7	eur	eur	PROPN
ejpam-799	19	8	.	.	PUNCT
ejpam-799	20	1	j.	j.	PROPN
ejpam-799	20	2	pure	pure	PROPN
ejpam-799	20	3	appl	appl	PROPN
ejpam-799	20	4	.	.	PROPN
ejpam-799	20	5	math	math	PROPN
ejpam-799	20	6	,	,	PUNCT
ejpam-799	20	7	3	3	NUM
ejpam-799	20	8	(	(	PUNCT
ejpam-799	20	9	2010	2010	NUM
ejpam-799	20	10	)	)	PUNCT
ejpam-799	20	11	,	,	PUNCT
ejpam-799	20	12	502	502	NUM
ejpam-799	20	13	-	-	SYM
ejpam-799	20	14	518	518	NUM
ejpam-799	20	15	503	503	NUM
ejpam-799	20	16	examples	example	NOUN
ejpam-799	20	17	of	of	ADP
ejpam-799	20	18	applications	application	NOUN
ejpam-799	20	19	,	,	PUNCT
ejpam-799	20	20	see	see	VERB
ejpam-799	20	21	[	[	X
ejpam-799	20	22	6	6	NUM
ejpam-799	20	23	,	,	PUNCT
ejpam-799	20	24	19	19	NUM
ejpam-799	20	25	,	,	PUNCT
ejpam-799	20	26	3	3	NUM
ejpam-799	20	27	,	,	PUNCT
ejpam-799	20	28	25	25	NUM
ejpam-799	20	29	]	]	PUNCT
ejpam-799	20	30	and	and	CCONJ
ejpam-799	20	31	the	the	DET
ejpam-799	20	32	references	reference	NOUN
ejpam-799	20	33	cited	cite	VERB
ejpam-799	20	34	in	in	ADP
ejpam-799	20	35	[	[	X
ejpam-799	20	36	20	20	NUM
ejpam-799	20	37	,	,	PUNCT
ejpam-799	20	38	21	21	NUM
ejpam-799	20	39	]	]	PUNCT
ejpam-799	20	40	.	.	PUNCT
ejpam-799	21	1	a	a	DET
ejpam-799	21	2	wellknown	wellknown	ADJ
ejpam-799	21	3	problem	problem	NOUN
ejpam-799	21	4	with	with	ADP
ejpam-799	21	5	the	the	DET
ejpam-799	21	6	vr	vr	PROPN
ejpam-799	21	7	test	test	NOUN
ejpam-799	21	8	,	,	PUNCT
ejpam-799	21	9	namely	namely	ADV
ejpam-799	21	10	that	that	SCONJ
ejpam-799	21	11	the	the	DET
ejpam-799	21	12	vr	vr	PROPN
ejpam-799	21	13	statistic	statistic	NOUN
ejpam-799	21	14	is	be	AUX
ejpam-799	21	15	biased	biased	ADJ
ejpam-799	21	16	and	and	CCONJ
ejpam-799	21	17	right	right	ADV
ejpam-799	21	18	-	-	PUNCT
ejpam-799	21	19	skewed	skewed	ADJ
ejpam-799	21	20	in	in	ADP
ejpam-799	21	21	finite	finite	ADJ
ejpam-799	21	22	samples	sample	NOUN
ejpam-799	21	23	,	,	PUNCT
ejpam-799	21	24	is	be	AUX
ejpam-799	21	25	addressed	address	VERB
ejpam-799	21	26	and	and	CCONJ
ejpam-799	21	27	a	a	DET
ejpam-799	21	28	solution	solution	NOUN
ejpam-799	21	29	is	be	AUX
ejpam-799	21	30	provided	provide	VERB
ejpam-799	21	31	in	in	ADP
ejpam-799	21	32	a	a	DET
ejpam-799	21	33	series	series	NOUN
ejpam-799	21	34	of	of	ADP
ejpam-799	21	35	theoretical	theoretical	ADJ
ejpam-799	21	36	papers	paper	NOUN
ejpam-799	21	37	such	such	ADJ
ejpam-799	21	38	as	as	ADP
ejpam-799	21	39	those	those	PRON
ejpam-799	21	40	by	by	ADP
ejpam-799	21	41	[	[	X
ejpam-799	21	42	5	5	NUM
ejpam-799	21	43	,	,	PUNCT
ejpam-799	21	44	21	21	NUM
ejpam-799	21	45	,	,	PUNCT
ejpam-799	21	46	14	14	NUM
ejpam-799	21	47	,	,	PUNCT
ejpam-799	21	48	2	2	NUM
ejpam-799	21	49	]	]	PUNCT
ejpam-799	21	50	.	.	PUNCT
ejpam-799	22	1	on	on	ADP
ejpam-799	22	2	the	the	DET
ejpam-799	22	3	other	other	ADJ
ejpam-799	22	4	hand	hand	NOUN
ejpam-799	22	5	,	,	PUNCT
ejpam-799	22	6	a	a	DET
ejpam-799	22	7	growing	grow	VERB
ejpam-799	22	8	body	body	NOUN
ejpam-799	22	9	of	of	ADP
ejpam-799	22	10	research	research	NOUN
ejpam-799	22	11	,	,	PUNCT
ejpam-799	22	12	especially	especially	ADV
ejpam-799	22	13	in	in	ADP
ejpam-799	22	14	the	the	DET
ejpam-799	22	15	unit	unit	NOUN
ejpam-799	22	16	root	root	PROPN
ejpam-799	22	17	literature	literature	PROPN
ejpam-799	22	18	,	,	PUNCT
ejpam-799	22	19	has	have	AUX
ejpam-799	22	20	revealed	reveal	VERB
ejpam-799	22	21	that	that	SCONJ
ejpam-799	22	22	many	many	ADJ
ejpam-799	22	23	time	time	NOUN
ejpam-799	22	24	series	series	PROPN
ejpam-799	22	25	data	datum	NOUN
ejpam-799	22	26	are	be	AUX
ejpam-799	22	27	better	well	ADV
ejpam-799	22	28	characterised	characterise	VERB
ejpam-799	22	29	when	when	SCONJ
ejpam-799	22	30	single	single	ADJ
ejpam-799	22	31	or	or	CCONJ
ejpam-799	22	32	multiple	multiple	ADJ
ejpam-799	22	33	breaks	break	NOUN
ejpam-799	22	34	are	be	AUX
ejpam-799	22	35	taken	take	VERB
ejpam-799	22	36	into	into	ADP
ejpam-799	22	37	account	account	NOUN
ejpam-799	22	38	in	in	ADP
ejpam-799	22	39	modelling	model	VERB
ejpam-799	22	40	the	the	DET
ejpam-799	22	41	time	time	NOUN
ejpam-799	22	42	series	series	NOUN
ejpam-799	22	43	.	.	PUNCT
ejpam-799	23	1	a	a	DET
ejpam-799	23	2	single	single	ADJ
ejpam-799	23	3	break	break	NOUN
ejpam-799	23	4	in	in	ADP
ejpam-799	23	5	trend	trend	NOUN
ejpam-799	23	6	is	be	AUX
ejpam-799	23	7	permitted	permit	VERB
ejpam-799	23	8	in	in	ADP
ejpam-799	23	9	[	[	X
ejpam-799	23	10	12	12	NUM
ejpam-799	23	11	,	,	PUNCT
ejpam-799	23	12	13	13	NUM
ejpam-799	23	13	,	,	PUNCT
ejpam-799	23	14	16	16	NUM
ejpam-799	23	15	,	,	PUNCT
ejpam-799	23	16	15	15	NUM
ejpam-799	23	17	,	,	PUNCT
ejpam-799	23	18	8	8	NUM
ejpam-799	23	19	]	]	PUNCT
ejpam-799	23	20	when	when	SCONJ
ejpam-799	23	21	testing	test	VERB
ejpam-799	23	22	the	the	DET
ejpam-799	23	23	unit	unit	NOUN
ejpam-799	23	24	root	root	NOUN
ejpam-799	23	25	hypothesis	hypothesis	NOUN
ejpam-799	23	26	,	,	PUNCT
ejpam-799	23	27	while	while	SCONJ
ejpam-799	23	28	a	a	DET
ejpam-799	23	29	single	single	ADJ
ejpam-799	23	30	break	break	NOUN
ejpam-799	23	31	in	in	ADP
ejpam-799	23	32	variance	variance	NOUN
ejpam-799	23	33	is	be	AUX
ejpam-799	23	34	considered	consider	VERB
ejpam-799	23	35	in	in	ADP
ejpam-799	23	36	[	[	X
ejpam-799	23	37	7	7	NUM
ejpam-799	23	38	]	]	PUNCT
ejpam-799	23	39	and	and	CCONJ
ejpam-799	23	40	[	[	X
ejpam-799	23	41	1	1	NUM
ejpam-799	23	42	]	]	PUNCT
ejpam-799	23	43	.	.	PUNCT
ejpam-799	24	1	despite	despite	SCONJ
ejpam-799	24	2	the	the	DET
ejpam-799	24	3	growing	grow	VERB
ejpam-799	24	4	empirical	empirical	ADJ
ejpam-799	24	5	evidence	evidence	NOUN
ejpam-799	24	6	and	and	CCONJ
ejpam-799	24	7	theoretical	theoretical	ADJ
ejpam-799	24	8	development	development	NOUN
ejpam-799	24	9	for	for	ADP
ejpam-799	24	10	structural	structural	ADJ
ejpam-799	24	11	changes	change	NOUN
ejpam-799	24	12	in	in	ADP
ejpam-799	24	13	time	time	NOUN
ejpam-799	24	14	series	series	NOUN
ejpam-799	24	15	,	,	PUNCT
ejpam-799	24	16	not	not	PART
ejpam-799	24	17	much	much	ADJ
ejpam-799	24	18	attention	attention	NOUN
ejpam-799	24	19	has	have	AUX
ejpam-799	24	20	been	be	AUX
ejpam-799	24	21	paid	pay	VERB
ejpam-799	24	22	to	to	ADP
ejpam-799	24	23	the	the	DET
ejpam-799	24	24	effect	effect	NOUN
ejpam-799	24	25	of	of	ADP
ejpam-799	24	26	such	such	ADJ
ejpam-799	24	27	structural	structural	ADJ
ejpam-799	24	28	breaks	break	NOUN
ejpam-799	24	29	on	on	ADP
ejpam-799	24	30	testing	test	VERB
ejpam-799	24	31	the	the	DET
ejpam-799	24	32	random	random	ADJ
ejpam-799	24	33	walk	walk	NOUN
ejpam-799	24	34	hypothesis	hypothesis	NOUN
ejpam-799	24	35	.	.	PUNCT
ejpam-799	25	1	in	in	ADP
ejpam-799	25	2	this	this	DET
ejpam-799	25	3	paper	paper	NOUN
ejpam-799	25	4	,	,	PUNCT
ejpam-799	25	5	we	we	PRON
ejpam-799	25	6	focus	focus	VERB
ejpam-799	25	7	on	on	ADP
ejpam-799	25	8	the	the	DET
ejpam-799	25	9	standard	standard	ADJ
ejpam-799	25	10	vr	vr	PROPN
ejpam-799	25	11	test	test	NOUN
ejpam-799	25	12	originally	originally	ADV
ejpam-799	25	13	proposed	propose	VERB
ejpam-799	25	14	by	by	ADP
ejpam-799	25	15	[	[	X
ejpam-799	25	16	10	10	NUM
ejpam-799	25	17	,	,	PUNCT
ejpam-799	25	18	11	11	NUM
ejpam-799	25	19	]	]	PUNCT
ejpam-799	25	20	and	and	CCONJ
ejpam-799	25	21	we	we	PRON
ejpam-799	25	22	allow	allow	VERB
ejpam-799	25	23	for	for	ADP
ejpam-799	25	24	a	a	DET
ejpam-799	25	25	break	break	NOUN
ejpam-799	25	26	in	in	ADP
ejpam-799	25	27	the	the	DET
ejpam-799	25	28	drift	drift	NOUN
ejpam-799	25	29	term	term	NOUN
ejpam-799	25	30	of	of	ADP
ejpam-799	25	31	the	the	DET
ejpam-799	25	32	time	time	NOUN
ejpam-799	25	33	series	series	NOUN
ejpam-799	25	34	under	under	ADP
ejpam-799	25	35	investigation	investigation	NOUN
ejpam-799	25	36	.	.	PUNCT
ejpam-799	26	1	we	we	PRON
ejpam-799	26	2	demonstrate	demonstrate	VERB
ejpam-799	26	3	both	both	PRON
ejpam-799	26	4	theoretically	theoretically	ADV
ejpam-799	26	5	and	and	CCONJ
ejpam-799	26	6	by	by	ADP
ejpam-799	26	7	simulation	simulation	NOUN
ejpam-799	26	8	that	that	PRON
ejpam-799	26	9	the	the	DET
ejpam-799	26	10	standard	standard	ADJ
ejpam-799	26	11	vr	vr	PROPN
ejpam-799	26	12	test	test	NOUN
ejpam-799	26	13	displays	display	VERB
ejpam-799	26	14	the	the	DET
ejpam-799	26	15	phenomenon	phenomenon	NOUN
ejpam-799	26	16	of	of	ADP
ejpam-799	26	17	spurious	spurious	ADJ
ejpam-799	26	18	rejections	rejection	NOUN
ejpam-799	26	19	of	of	ADP
ejpam-799	26	20	the	the	DET
ejpam-799	26	21	random	random	ADJ
ejpam-799	26	22	walk	walk	NOUN
ejpam-799	26	23	hypothesis	hypothesis	NOUN
ejpam-799	26	24	in	in	ADP
ejpam-799	26	25	the	the	DET
ejpam-799	26	26	presence	presence	NOUN
ejpam-799	26	27	of	of	ADP
ejpam-799	26	28	such	such	DET
ejpam-799	26	29	a	a	DET
ejpam-799	26	30	break	break	NOUN
ejpam-799	26	31	.	.	PUNCT
ejpam-799	27	1	as	as	ADP
ejpam-799	27	2	an	an	DET
ejpam-799	27	3	example	example	NOUN
ejpam-799	27	4	,	,	PUNCT
ejpam-799	27	5	we	we	PRON
ejpam-799	27	6	discuss	discuss	VERB
ejpam-799	27	7	some	some	DET
ejpam-799	27	8	implications	implication	NOUN
ejpam-799	27	9	of	of	ADP
ejpam-799	27	10	this	this	DET
ejpam-799	27	11	finding	finding	NOUN
ejpam-799	27	12	on	on	ADP
ejpam-799	27	13	the	the	DET
ejpam-799	27	14	previously	previously	ADV
ejpam-799	27	15	revealed	reveal	VERB
ejpam-799	27	16	empirical	empirical	ADJ
ejpam-799	27	17	evidence	evidence	NOUN
ejpam-799	27	18	against	against	ADP
ejpam-799	27	19	the	the	DET
ejpam-799	27	20	random	random	ADJ
ejpam-799	27	21	walk	walk	NOUN
ejpam-799	27	22	hypothesis	hypothesis	NOUN
ejpam-799	27	23	for	for	ADP
ejpam-799	27	24	exchange	exchange	NOUN
ejpam-799	27	25	rates	rate	NOUN
ejpam-799	27	26	.	.	PUNCT
ejpam-799	28	1	the	the	DET
ejpam-799	28	2	paper	paper	NOUN
ejpam-799	28	3	is	be	AUX
ejpam-799	28	4	organized	organize	VERB
ejpam-799	28	5	as	as	SCONJ
ejpam-799	28	6	follows	follow	VERB
ejpam-799	28	7	.	.	PUNCT
ejpam-799	29	1	in	in	ADP
ejpam-799	29	2	section	section	NOUN
ejpam-799	29	3	2	2	NUM
ejpam-799	29	4	,	,	PUNCT
ejpam-799	29	5	we	we	PRON
ejpam-799	29	6	show	show	VERB
ejpam-799	29	7	analytically	analytically	ADV
ejpam-799	29	8	that	that	SCONJ
ejpam-799	29	9	the	the	DET
ejpam-799	29	10	variance	variance	NOUN
ejpam-799	29	11	ratio	ratio	NOUN
ejpam-799	29	12	test	test	NOUN
ejpam-799	29	13	statistics	statistic	NOUN
ejpam-799	29	14	of	of	ADP
ejpam-799	29	15	[	[	X
ejpam-799	29	16	10	10	NUM
ejpam-799	29	17	]	]	PUNCT
ejpam-799	29	18	do	do	AUX
ejpam-799	29	19	not	not	PART
ejpam-799	29	20	tend	tend	VERB
ejpam-799	29	21	to	to	PART
ejpam-799	29	22	follow	follow	VERB
ejpam-799	29	23	the	the	DET
ejpam-799	29	24	standard	standard	ADJ
ejpam-799	29	25	normal	normal	ADJ
ejpam-799	29	26	distribution	distribution	NOUN
ejpam-799	29	27	when	when	SCONJ
ejpam-799	29	28	there	there	PRON
ejpam-799	29	29	is	be	VERB
ejpam-799	29	30	a	a	DET
ejpam-799	29	31	break	break	NOUN
ejpam-799	29	32	in	in	ADP
ejpam-799	29	33	drift	drift	NOUN
ejpam-799	29	34	and	and	CCONJ
ejpam-799	29	35	we	we	PRON
ejpam-799	29	36	demonstrate	demonstrate	VERB
ejpam-799	29	37	that	that	SCONJ
ejpam-799	29	38	in	in	ADP
ejpam-799	29	39	such	such	ADJ
ejpam-799	29	40	circumstances	circumstance	NOUN
ejpam-799	29	41	,	,	PUNCT
ejpam-799	29	42	the	the	DET
ejpam-799	29	43	probability	probability	NOUN
ejpam-799	29	44	of	of	ADP
ejpam-799	29	45	rejecting	reject	VERB
ejpam-799	29	46	the	the	DET
ejpam-799	29	47	random	random	ADJ
ejpam-799	29	48	walk	walk	NOUN
ejpam-799	29	49	hypothesis	hypothesis	NOUN
ejpam-799	29	50	approaches	approach	VERB
ejpam-799	29	51	one	one	NOUN
ejpam-799	29	52	even	even	ADV
ejpam-799	29	53	though	though	SCONJ
ejpam-799	29	54	the	the	DET
ejpam-799	29	55	null	null	NOUN
ejpam-799	29	56	of	of	ADP
ejpam-799	29	57	the	the	DET
ejpam-799	29	58	random	random	ADJ
ejpam-799	29	59	walk	walk	NOUN
ejpam-799	29	60	hypothesis	hypothesis	NOUN
ejpam-799	29	61	is	be	AUX
ejpam-799	29	62	true	true	ADJ
ejpam-799	29	63	.	.	PUNCT
ejpam-799	30	1	the	the	DET
ejpam-799	30	2	same	same	ADJ
ejpam-799	30	3	phenomenon	phenomenon	NOUN
ejpam-799	30	4	is	be	AUX
ejpam-799	30	5	analysed	analyse	VERB
ejpam-799	30	6	in	in	ADP
ejpam-799	30	7	finite	finite	ADJ
ejpam-799	30	8	samples	sample	NOUN
ejpam-799	30	9	by	by	ADP
ejpam-799	30	10	simulation	simulation	NOUN
ejpam-799	30	11	in	in	ADP
ejpam-799	30	12	section	section	NOUN
ejpam-799	30	13	3	3	NUM
ejpam-799	30	14	and	and	CCONJ
ejpam-799	30	15	we	we	PRON
ejpam-799	30	16	propose	propose	VERB
ejpam-799	30	17	a	a	DET
ejpam-799	30	18	modified	modify	VERB
ejpam-799	30	19	variance	variance	NOUN
ejpam-799	30	20	ratio	ratio	NOUN
ejpam-799	30	21	test	test	NOUN
ejpam-799	30	22	in	in	ADP
ejpam-799	30	23	section	section	NOUN
ejpam-799	30	24	4	4	NUM
ejpam-799	30	25	.	.	PUNCT
ejpam-799	30	26	section	section	NOUN
ejpam-799	30	27	5	5	NUM
ejpam-799	30	28	applies	apply	VERB
ejpam-799	30	29	both	both	CCONJ
ejpam-799	30	30	the	the	DET
ejpam-799	30	31	standard	standard	ADJ
ejpam-799	30	32	variance	variance	NOUN
ejpam-799	30	33	ratio	ratio	NOUN
ejpam-799	30	34	tests	test	NOUN
ejpam-799	30	35	of	of	ADP
ejpam-799	30	36	[	[	X
ejpam-799	30	37	10	10	NUM
ejpam-799	30	38	]	]	PUNCT
ejpam-799	30	39	and	and	CCONJ
ejpam-799	30	40	our	our	PRON
ejpam-799	30	41	new	new	ADJ
ejpam-799	30	42	test	test	NOUN
ejpam-799	30	43	to	to	ADP
ejpam-799	30	44	the	the	DET
ejpam-799	30	45	exchange	exchange	NOUN
ejpam-799	30	46	rates	rate	NOUN
ejpam-799	30	47	of	of	ADP
ejpam-799	30	48	four	four	NUM
ejpam-799	30	49	currencies	currency	NOUN
ejpam-799	30	50	.	.	PUNCT
ejpam-799	31	1	we	we	PRON
ejpam-799	31	2	have	have	AUX
ejpam-799	31	3	found	find	VERB
ejpam-799	31	4	that	that	SCONJ
ejpam-799	31	5	the	the	DET
ejpam-799	31	6	standard	standard	ADJ
ejpam-799	31	7	tests	test	NOUN
ejpam-799	31	8	strongly	strongly	ADV
ejpam-799	31	9	reject	reject	VERB
ejpam-799	31	10	the	the	DET
ejpam-799	31	11	random	random	ADJ
ejpam-799	31	12	walk	walk	NOUN
ejpam-799	31	13	hypothesis	hypothesis	NOUN
ejpam-799	31	14	while	while	SCONJ
ejpam-799	31	15	our	our	PRON
ejpam-799	31	16	tests	test	NOUN
ejpam-799	31	17	do	do	VERB
ejpam-799	31	18	not	not	PART
ejpam-799	31	19	.	.	PUNCT
ejpam-799	32	1	our	our	PRON
ejpam-799	32	2	empirical	empirical	ADJ
ejpam-799	32	3	findings	finding	NOUN
ejpam-799	32	4	strongly	strongly	ADV
ejpam-799	32	5	indicate	indicate	VERB
ejpam-799	32	6	that	that	SCONJ
ejpam-799	32	7	rejecting	reject	VERB
ejpam-799	32	8	the	the	DET
ejpam-799	32	9	random	random	ADJ
ejpam-799	32	10	walk	walk	NOUN
ejpam-799	32	11	hypothesis	hypothesis	NOUN
ejpam-799	32	12	by	by	ADP
ejpam-799	32	13	the	the	DET
ejpam-799	32	14	standard	standard	ADJ
ejpam-799	32	15	variance	variance	NOUN
ejpam-799	32	16	ratio	ratio	NOUN
ejpam-799	32	17	tests	test	NOUN
ejpam-799	32	18	might	might	AUX
ejpam-799	32	19	have	have	AUX
ejpam-799	32	20	been	be	AUX
ejpam-799	32	21	induced	induce	VERB
ejpam-799	32	22	by	by	ADP
ejpam-799	32	23	failing	fail	VERB
ejpam-799	32	24	to	to	PART
ejpam-799	32	25	incorporate	incorporate	VERB
ejpam-799	32	26	structural	structural	ADJ
ejpam-799	32	27	breaks	break	NOUN
ejpam-799	32	28	into	into	ADP
ejpam-799	32	29	the	the	DET
ejpam-799	32	30	testing	testing	NOUN
ejpam-799	32	31	procedure	procedure	NOUN
ejpam-799	32	32	.	.	PUNCT
ejpam-799	33	1	finally	finally	ADV
ejpam-799	33	2	,	,	PUNCT
ejpam-799	33	3	section	section	NOUN
ejpam-799	33	4	6	6	NUM
ejpam-799	33	5	provides	provide	VERB
ejpam-799	33	6	a	a	DET
ejpam-799	33	7	summary	summary	NOUN
ejpam-799	33	8	of	of	ADP
ejpam-799	33	9	the	the	DET
ejpam-799	33	10	paper	paper	NOUN
ejpam-799	33	11	.	.	PUNCT
ejpam-799	34	1	2	2	X
ejpam-799	34	2	.	.	X
ejpam-799	34	3	spurious	spurious	ADJ
ejpam-799	34	4	rejections	rejection	NOUN
ejpam-799	34	5	of	of	ADP
ejpam-799	34	6	the	the	DET
ejpam-799	34	7	random	random	ADJ
ejpam-799	34	8	walk	walk	NOUN
ejpam-799	34	9	hypothesis	hypothesis	NOUN
ejpam-799	34	10	by	by	ADP
ejpam-799	34	11	variance	variance	NOUN
ejpam-799	34	12	ratio	ratio	NOUN
ejpam-799	34	13	tests	test	NOUN
ejpam-799	34	14	we	we	PRON
ejpam-799	34	15	consider	consider	VERB
ejpam-799	34	16	the	the	DET
ejpam-799	34	17	following	follow	VERB
ejpam-799	34	18	process	process	NOUN
ejpam-799	34	19	:	:	PUNCT
ejpam-799	35	1	x	x	X
ejpam-799	35	2	t	t	NOUN
ejpam-799	35	3	=	=	PUNCT
ejpam-799	35	4	µt	µt	PROPN
ejpam-799	36	1	+	+	NOUN
ejpam-799	36	2	x	x	SYM
ejpam-799	36	3	t−1	t−1	PROPN
ejpam-799	36	4	+	+	X
ejpam-799	36	5	ǫt	ǫt	NOUN
ejpam-799	36	6	;	;	PUNCT
ejpam-799	36	7	t	t	NOUN
ejpam-799	36	8	=	=	SYM
ejpam-799	36	9	1,2	1,2	NUM
ejpam-799	36	10	,	,	PUNCT
ejpam-799	36	11	...	...	PUNCT
ejpam-799	36	12	,	,	PUNCT
ejpam-799	36	13	t	t	PROPN
ejpam-799	36	14	,	,	PUNCT
ejpam-799	36	15	(	(	PUNCT
ejpam-799	36	16	1	1	X
ejpam-799	36	17	)	)	PUNCT
ejpam-799	36	18	or	or	CCONJ
ejpam-799	36	19	rt	rt	PROPN
ejpam-799	36	20	=	=	PROPN
ejpam-799	36	21	∆x	∆x	PROPN
ejpam-799	36	22	t	t	PROPN
ejpam-799	36	23	=	=	PRON
ejpam-799	36	24	µt	µt	PROPN
ejpam-799	36	25	+	+	NUM
ejpam-799	36	26	ǫt	ǫt	NOUN
ejpam-799	36	27	;	;	PUNCT
ejpam-799	37	1	∆x	∆x	PROPN
ejpam-799	37	2	t	t	PROPN
ejpam-799	37	3	≡	≡	PROPN
ejpam-799	37	4	x	x	PUNCT
ejpam-799	37	5	t	t	NOUN
ejpam-799	37	6	−	−	NOUN
ejpam-799	37	7	x	x	SYM
ejpam-799	37	8	t−1	t−1	NOUN
ejpam-799	37	9	.	.	PUNCT
ejpam-799	38	1	(	(	PUNCT
ejpam-799	38	2	2	2	X
ejpam-799	38	3	)	)	PUNCT
ejpam-799	38	4	the	the	DET
ejpam-799	38	5	drift	drift	NOUN
ejpam-799	38	6	term	term	NOUN
ejpam-799	38	7	is	be	AUX
ejpam-799	38	8	specified	specify	VERB
ejpam-799	38	9	as	as	ADP
ejpam-799	38	10	µt	µt	PROPN
ejpam-799	38	11	=	=	PRON
ejpam-799	38	12	µ11(t	µ11(t	PRON
ejpam-799	38	13	≤	≤	PUNCT
ejpam-799	39	1	[	[	X
ejpam-799	39	2	τt	τt	X
ejpam-799	39	3	]	]	X
ejpam-799	39	4	)	)	PUNCT
ejpam-799	40	1	+	+	VERB
ejpam-799	40	2	µ21([τt	µ21([τt	X
ejpam-799	40	3	]	]	PUNCT
ejpam-799	40	4	<	<	X
ejpam-799	40	5	t	t	PROPN
ejpam-799	40	6	)	)	PUNCT
ejpam-799	40	7	,	,	PUNCT
ejpam-799	40	8	where	where	SCONJ
ejpam-799	40	9	1	1	NUM
ejpam-799	40	10	(	(	PUNCT
ejpam-799	40	11	·	·	PUNCT
ejpam-799	40	12	)	)	PUNCT
ejpam-799	40	13	is	be	AUX
ejpam-799	40	14	the	the	DET
ejpam-799	40	15	indicator	indicator	NOUN
ejpam-799	40	16	function	function	NOUN
ejpam-799	40	17	and	and	CCONJ
ejpam-799	40	18	[	[	X
ejpam-799	40	19	τt	τt	X
ejpam-799	40	20	]	]	X
ejpam-799	40	21	is	be	AUX
ejpam-799	40	22	the	the	DET
ejpam-799	40	23	integer	integer	ADJ
ejpam-799	40	24	part	part	NOUN
ejpam-799	40	25	of	of	ADP
ejpam-799	40	26	τt	τt	PRON
ejpam-799	40	27	and	and	CCONJ
ejpam-799	40	28	τ	τ	PROPN
ejpam-799	40	29	∈	∈	PROPN
ejpam-799	40	30	(	(	PUNCT
ejpam-799	40	31	0,1	0,1	NUM
ejpam-799	40	32	)	)	PUNCT
ejpam-799	40	33	.	.	PUNCT
ejpam-799	41	1	whenever	whenever	SCONJ
ejpam-799	41	2	there	there	PRON
ejpam-799	41	3	is	be	VERB
ejpam-799	41	4	no	no	DET
ejpam-799	41	5	confusion	confusion	NOUN
ejpam-799	41	6	,	,	PUNCT
ejpam-799	41	7	we	we	PRON
ejpam-799	41	8	will	will	AUX
ejpam-799	41	9	use	use	VERB
ejpam-799	41	10	τt	τt	PRON
ejpam-799	41	11	in	in	ADP
ejpam-799	41	12	place	place	NOUN
ejpam-799	41	13	of	of	ADP
ejpam-799	41	14	[	[	X
ejpam-799	41	15	τt	τt	X
ejpam-799	41	16	]	]	PUNCT
ejpam-799	41	17	from	from	ADP
ejpam-799	41	18	now	now	ADV
ejpam-799	41	19	on	on	ADV
ejpam-799	41	20	.	.	PUNCT
ejpam-799	42	1	the	the	DET
ejpam-799	42	2	disturbance	disturbance	NOUN
ejpam-799	42	3	y.	y.	PROPN
ejpam-799	42	4	kim	kim	PROPN
ejpam-799	42	5	and	and	CCONJ
ejpam-799	42	6	t.	t.	PROPN
ejpam-799	42	7	kim	kim	PROPN
ejpam-799	42	8	/	/	SYM
ejpam-799	42	9	eur	eur	PROPN
ejpam-799	42	10	.	.	PUNCT
ejpam-799	43	1	j.	j.	PROPN
ejpam-799	43	2	pure	pure	PROPN
ejpam-799	43	3	appl	appl	PROPN
ejpam-799	43	4	.	.	PROPN
ejpam-799	43	5	math	math	PROPN
ejpam-799	43	6	,	,	PUNCT
ejpam-799	43	7	3	3	NUM
ejpam-799	43	8	(	(	PUNCT
ejpam-799	43	9	2010	2010	NUM
ejpam-799	43	10	)	)	PUNCT
ejpam-799	43	11	,	,	PUNCT
ejpam-799	43	12	502	502	NUM
ejpam-799	43	13	-	-	SYM
ejpam-799	43	14	518	518	NUM
ejpam-799	43	15	504	504	NUM
ejpam-799	43	16	term	term	NOUN
ejpam-799	43	17	ǫt	ǫt	PROPN
ejpam-799	43	18	is	be	AUX
ejpam-799	43	19	assumed	assume	VERB
ejpam-799	43	20	to	to	PART
ejpam-799	43	21	satisfy	satisfy	VERB
ejpam-799	43	22	the	the	DET
ejpam-799	43	23	condition	condition	NOUN
ejpam-799	44	1	that	that	SCONJ
ejpam-799	44	2	e(ǫt	e(ǫt	PROPN
ejpam-799	44	3	)	)	PUNCT
ejpam-799	45	1	=	=	SYM
ejpam-799	45	2	0	0	NUM
ejpam-799	45	3	and	and	CCONJ
ejpam-799	45	4	e(ǫ2	e(ǫ2	PROPN
ejpam-799	45	5	t	t	PROPN
ejpam-799	45	6	)	)	PUNCT
ejpam-799	46	1	=	=	PUNCT
ejpam-799	46	2	σ	σ	PROPN
ejpam-799	46	3	2	2	NUM
ejpam-799	46	4	.	.	PUNCT
ejpam-799	47	1	the	the	DET
ejpam-799	47	2	null	null	ADJ
ejpam-799	47	3	hypothesis	hypothesis	NOUN
ejpam-799	47	4	is	be	AUX
ejpam-799	47	5	that	that	SCONJ
ejpam-799	47	6	rt	rt	PROPN
ejpam-799	47	7	is	be	AUX
ejpam-799	47	8	not	not	PART
ejpam-799	47	9	serially	serially	ADV
ejpam-799	47	10	correlated	correlate	VERB
ejpam-799	47	11	at	at	ADP
ejpam-799	47	12	all	all	DET
ejpam-799	47	13	leads	lead	NOUN
ejpam-799	47	14	and	and	CCONJ
ejpam-799	47	15	lags	lag	VERB
ejpam-799	47	16	;	;	PUNCT
ejpam-799	47	17	that	that	PRON
ejpam-799	47	18	is	is	ADV
ejpam-799	47	19	,	,	PUNCT
ejpam-799	47	20	e(ǫtǫt−s	e(ǫtǫt−	NOUN
ejpam-799	47	21	)	)	PUNCT
ejpam-799	47	22	=	=	SYM
ejpam-799	47	23	0	0	NUM
ejpam-799	47	24	for	for	ADP
ejpam-799	47	25	t	t	PROPN
ejpam-799	47	26	6=	6=	PROPN
ejpam-799	47	27	s	s	PROPN
ejpam-799	47	28	,	,	PUNCT
ejpam-799	47	29	which	which	PRON
ejpam-799	47	30	we	we	PRON
ejpam-799	47	31	call	call	VERB
ejpam-799	47	32	the	the	DET
ejpam-799	47	33	random	random	ADJ
ejpam-799	47	34	walk	walk	NOUN
ejpam-799	47	35	hypothesis	hypothesis	NOUN
ejpam-799	47	36	.	.	PUNCT
ejpam-799	48	1	we	we	PRON
ejpam-799	48	2	also	also	ADV
ejpam-799	48	3	assume	assume	VERB
ejpam-799	48	4	for	for	ADP
ejpam-799	48	5	convenience	convenience	NOUN
ejpam-799	48	6	that	that	PRON
ejpam-799	48	7	x0	x0	PROPN
ejpam-799	48	8	is	be	AUX
ejpam-799	48	9	observed	observe	VERB
ejpam-799	48	10	.	.	PUNCT
ejpam-799	49	1	the	the	DET
ejpam-799	49	2	specification	specification	NOUN
ejpam-799	49	3	of	of	ADP
ejpam-799	49	4	the	the	DET
ejpam-799	49	5	process	process	NOUN
ejpam-799	49	6	in	in	ADP
ejpam-799	49	7	(	(	PUNCT
ejpam-799	49	8	1	1	NUM
ejpam-799	49	9	)	)	PUNCT
ejpam-799	49	10	and	and	CCONJ
ejpam-799	49	11	(	(	PUNCT
ejpam-799	49	12	2	2	X
ejpam-799	49	13	)	)	PUNCT
ejpam-799	49	14	for	for	ADP
ejpam-799	49	15	testing	test	VERB
ejpam-799	49	16	the	the	DET
ejpam-799	49	17	random	random	ADJ
ejpam-799	49	18	walk	walk	NOUN
ejpam-799	49	19	hypothesis	hypothesis	NOUN
ejpam-799	49	20	has	have	AUX
ejpam-799	49	21	been	be	AUX
ejpam-799	49	22	used	use	VERB
ejpam-799	49	23	in	in	ADP
ejpam-799	49	24	previous	previous	ADJ
ejpam-799	49	25	research	research	NOUN
ejpam-799	49	26	.	.	PUNCT
ejpam-799	50	1	the	the	DET
ejpam-799	50	2	only	only	ADJ
ejpam-799	50	3	difference	difference	NOUN
ejpam-799	50	4	is	be	AUX
ejpam-799	50	5	that	that	SCONJ
ejpam-799	50	6	we	we	PRON
ejpam-799	50	7	allow	allow	VERB
ejpam-799	50	8	a	a	DET
ejpam-799	50	9	deterministic	deterministic	ADJ
ejpam-799	50	10	break	break	NOUN
ejpam-799	50	11	in	in	ADP
ejpam-799	50	12	the	the	DET
ejpam-799	50	13	drift	drift	NOUN
ejpam-799	50	14	term	term	NOUN
ejpam-799	50	15	.	.	PUNCT
ejpam-799	51	1	using	use	VERB
ejpam-799	51	2	the	the	DET
ejpam-799	51	3	fact	fact	NOUN
ejpam-799	51	4	that	that	SCONJ
ejpam-799	51	5	,	,	PUNCT
ejpam-799	51	6	under	under	ADP
ejpam-799	51	7	the	the	DET
ejpam-799	51	8	random	random	ADJ
ejpam-799	51	9	walk	walk	NOUN
ejpam-799	51	10	hypothesis	hypothesis	NOUN
ejpam-799	51	11	,	,	PUNCT
ejpam-799	51	12	the	the	DET
ejpam-799	51	13	variance	variance	NOUN
ejpam-799	51	14	of	of	ADP
ejpam-799	51	15	the	the	DET
ejpam-799	51	16	q−period	q−period	NOUN
ejpam-799	51	17	return	return	NOUN
ejpam-799	51	18	,	,	PUNCT
ejpam-799	51	19	x	x	X
ejpam-799	51	20	t	t	NOUN
ejpam-799	51	21	−	−	NOUN
ejpam-799	51	22	x	x	SYM
ejpam-799	51	23	t−q	t−q	NOUN
ejpam-799	51	24	,	,	PUNCT
ejpam-799	51	25	is	be	AUX
ejpam-799	51	26	equal	equal	ADJ
ejpam-799	51	27	to	to	ADP
ejpam-799	51	28	q	q	PROPN
ejpam-799	51	29	times	time	NOUN
ejpam-799	51	30	the	the	DET
ejpam-799	51	31	variance	variance	NOUN
ejpam-799	51	32	of	of	ADP
ejpam-799	51	33	the	the	DET
ejpam-799	51	34	one	one	NUM
ejpam-799	51	35	-	-	PUNCT
ejpam-799	51	36	period	period	NOUN
ejpam-799	51	37	return	return	NOUN
ejpam-799	51	38	,	,	PUNCT
ejpam-799	51	39	x	x	X
ejpam-799	51	40	t	t	NOUN
ejpam-799	51	41	−	−	NOUN
ejpam-799	51	42	x	x	SYM
ejpam-799	51	43	t−1	t−1	PROPN
ejpam-799	51	44	,	,	PUNCT
ejpam-799	51	45	[	[	X
ejpam-799	51	46	10	10	NUM
ejpam-799	51	47	]	]	PUNCT
ejpam-799	51	48	developed	develop	VERB
ejpam-799	51	49	the	the	DET
ejpam-799	51	50	variance	variance	NOUN
ejpam-799	51	51	ratio	ratio	NOUN
ejpam-799	51	52	test	test	NOUN
ejpam-799	51	53	as	as	SCONJ
ejpam-799	51	54	follows	follow	VERB
ejpam-799	51	55	.	.	PUNCT
ejpam-799	52	1	the	the	DET
ejpam-799	52	2	q−period	q−period	NOUN
ejpam-799	52	3	return	return	NOUN
ejpam-799	52	4	,	,	PUNCT
ejpam-799	52	5	rt	rt	PROPN
ejpam-799	52	6	�	�	PROPN
ejpam-799	52	7	q	q	PROPN
ejpam-799	52	8	�	�	PROPN
ejpam-799	52	9	is	be	AUX
ejpam-799	52	10	defined	define	VERB
ejpam-799	52	11	using	use	VERB
ejpam-799	52	12	overlapping	overlap	VERB
ejpam-799	52	13	observations	observation	NOUN
ejpam-799	52	14	:	:	PUNCT
ejpam-799	52	15	rt(q	rt(q	PUNCT
ejpam-799	52	16	)	)	PUNCT
ejpam-799	53	1	=	=	SYM
ejpam-799	53	2	q−1∑	q−1∑	NUM
ejpam-799	53	3	i=0	i=0	PROPN
ejpam-799	53	4	rt−i	rt−i	NOUN
ejpam-799	53	5	=	=	PUNCT
ejpam-799	53	6	x	x	SYM
ejpam-799	53	7	t	t	NOUN
ejpam-799	53	8	−	−	NOUN
ejpam-799	53	9	x	x	SYM
ejpam-799	53	10	t−q	t−q	PROPN
ejpam-799	53	11	.	.	PUNCT
ejpam-799	53	12	variance	variance	NOUN
ejpam-799	53	13	ratio	ratio	NOUN
ejpam-799	53	14	statistics	statistic	NOUN
ejpam-799	53	15	could	could	AUX
ejpam-799	53	16	also	also	ADV
ejpam-799	53	17	be	be	AUX
ejpam-799	53	18	based	base	VERB
ejpam-799	53	19	on	on	ADP
ejpam-799	53	20	non	non	ADJ
ejpam-799	53	21	-	-	ADJ
ejpam-799	53	22	overlapping	overlapping	ADJ
ejpam-799	53	23	returns	return	NOUN
ejpam-799	53	24	,	,	PUNCT
ejpam-799	53	25	but	but	CCONJ
ejpam-799	53	26	,	,	PUNCT
ejpam-799	53	27	as	as	SCONJ
ejpam-799	53	28	shown	show	VERB
ejpam-799	53	29	by	by	ADP
ejpam-799	53	30	[	[	X
ejpam-799	53	31	10	10	NUM
ejpam-799	53	32	]	]	PUNCT
ejpam-799	53	33	,	,	PUNCT
ejpam-799	53	34	using	use	VERB
ejpam-799	53	35	overlapping	overlap	VERB
ejpam-799	53	36	observations	observation	NOUN
ejpam-799	53	37	results	result	NOUN
ejpam-799	53	38	in	in	ADP
ejpam-799	53	39	a	a	DET
ejpam-799	53	40	more	more	ADV
ejpam-799	53	41	efficient	efficient	ADJ
ejpam-799	53	42	test	test	NOUN
ejpam-799	53	43	.	.	PUNCT
ejpam-799	54	1	hence	hence	ADV
ejpam-799	54	2	,	,	PUNCT
ejpam-799	54	3	we	we	PRON
ejpam-799	54	4	only	only	ADV
ejpam-799	54	5	consider	consider	VERB
ejpam-799	54	6	variance	variance	NOUN
ejpam-799	54	7	ratio	ratio	NOUN
ejpam-799	54	8	statistics	statistic	NOUN
ejpam-799	54	9	computed	compute	VERB
ejpam-799	54	10	using	use	VERB
ejpam-799	54	11	overlapping	overlap	VERB
ejpam-799	54	12	observations	observation	NOUN
ejpam-799	54	13	.	.	PUNCT
ejpam-799	55	1	the	the	DET
ejpam-799	55	2	test	test	NOUN
ejpam-799	55	3	statistic	statistic	NOUN
ejpam-799	55	4	is	be	AUX
ejpam-799	55	5	based	base	VERB
ejpam-799	55	6	on	on	ADP
ejpam-799	55	7	m	m	PROPN
ejpam-799	55	8	�	�	PROPN
ejpam-799	55	9	q	q	PROPN
ejpam-799	55	10	�	�	PROPN
ejpam-799	55	11	=	=	PUNCT
ejpam-799	55	12	σ̂2	σ̂2	NOUN
ejpam-799	55	13	q	q	PUNCT
ejpam-799	55	14	σ̂2	σ̂2	NOUN
ejpam-799	55	15	−	−	NOUN
ejpam-799	55	16	1	1	NUM
ejpam-799	55	17	,	,	PUNCT
ejpam-799	55	18	where	where	SCONJ
ejpam-799	55	19	σ̂2	σ̂2	PROPN
ejpam-799	55	20	=	=	PUNCT
ejpam-799	56	1	1	1	NUM
ejpam-799	56	2	t	t	NOUN
ejpam-799	56	3	−	−	NOUN
ejpam-799	56	4	1	1	NUM
ejpam-799	56	5	t∑	t∑	PROPN
ejpam-799	56	6	t=1	t=1	PROPN
ejpam-799	56	7	(	(	PUNCT
ejpam-799	56	8	rt	rt	PROPN
ejpam-799	56	9	−	−	PROPN
ejpam-799	56	10	µ̂	µ̂	PUNCT
ejpam-799	56	11	)	)	PUNCT
ejpam-799	56	12	2	2	NUM
ejpam-799	56	13	,	,	PUNCT
ejpam-799	56	14	µ̂=	µ̂=	NOUN
ejpam-799	56	15	1	1	NUM
ejpam-799	56	16	t	t	PROPN
ejpam-799	56	17	t∑	t∑	PROPN
ejpam-799	56	18	t=1	t=1	PROPN
ejpam-799	56	19	rt	rt	PROPN
ejpam-799	56	20	σ̂2	σ̂2	NOUN
ejpam-799	56	21	q	q	PROPN
ejpam-799	56	22	=	=	PUNCT
ejpam-799	56	23	t	t	PROPN
ejpam-799	56	24	q(t	q(t	PROPN
ejpam-799	56	25	−	−	PROPN
ejpam-799	56	26	q+	q+	ADP
ejpam-799	56	27	1)(t	1)(t	NUM
ejpam-799	56	28	−	−	NOUN
ejpam-799	56	29	q	q	NOUN
ejpam-799	56	30	)	)	PUNCT
ejpam-799	56	31	t∑	t∑	PROPN
ejpam-799	56	32	t	t	PROPN
ejpam-799	57	1	=	=	PRON
ejpam-799	57	2	q	q	X
ejpam-799	57	3	{	{	PUNCT
ejpam-799	57	4	rt(q)−	rt(q)−	NOUN
ejpam-799	57	5	qµ̂}2	qµ̂}2	PROPN
ejpam-799	57	6	.	.	PUNCT
ejpam-799	58	1	lo	lo	PROPN
ejpam-799	58	2	and	and	CCONJ
ejpam-799	58	3	mackinlay	mackinlay	NOUN
ejpam-799	58	4	[	[	X
ejpam-799	58	5	10	10	NUM
ejpam-799	58	6	]	]	PUNCT
ejpam-799	58	7	proved	prove	VERB
ejpam-799	58	8	,	,	PUNCT
ejpam-799	58	9	under	under	ADP
ejpam-799	58	10	the	the	DET
ejpam-799	58	11	random	random	ADJ
ejpam-799	58	12	walk	walk	NOUN
ejpam-799	58	13	hypothesis	hypothesis	NOUN
ejpam-799	58	14	without	without	ADP
ejpam-799	58	15	a	a	DET
ejpam-799	58	16	break	break	NOUN
ejpam-799	58	17	in	in	ADP
ejpam-799	58	18	drift	drift	NOUN
ejpam-799	58	19	(	(	PUNCT
ejpam-799	58	20	µ1	µ1	NOUN
ejpam-799	58	21	=	=	SYM
ejpam-799	58	22	µ2	µ2	PROPN
ejpam-799	58	23	)	)	PUNCT
ejpam-799	58	24	,	,	PUNCT
ejpam-799	58	25	that	that	SCONJ
ejpam-799	58	26	(	(	PUNCT
ejpam-799	58	27	i	i	NOUN
ejpam-799	58	28	)	)	PUNCT
ejpam-799	58	29	m	m	VERB
ejpam-799	58	30	�	�	PROPN
ejpam-799	58	31	q	q	PROPN
ejpam-799	58	32	�	�	PROPN
ejpam-799	58	33	p	p	X
ejpam-799	58	34	→	→	SYM
ejpam-799	58	35	0	0	NUM
ejpam-799	58	36	and	and	CCONJ
ejpam-799	58	37	(	(	PUNCT
ejpam-799	58	38	ii	ii	NOUN
ejpam-799	58	39	)	)	PUNCT
ejpam-799	58	40	the	the	DET
ejpam-799	58	41	standardized	standardized	ADJ
ejpam-799	58	42	variance	variance	NOUN
ejpam-799	58	43	ratio	ratio	NOUN
ejpam-799	58	44	statistic	statistic	NOUN
ejpam-799	58	45	z(q	z(q	PROPN
ejpam-799	58	46	)	)	PUNCT
ejpam-799	59	1	=	=	SYM
ejpam-799	59	2	t	t	PROPN
ejpam-799	59	3	1/2	1/2	NUM
ejpam-799	59	4	�	�	PROPN
ejpam-799	59	5	2(2q−1)(q−1	2(2q−1)(q−1	NUM
ejpam-799	59	6	)	)	PUNCT
ejpam-799	59	7	3q	3q	NUM
ejpam-799	59	8	�	�	NOUN
ejpam-799	59	9	−1/2	−1/2	VERB
ejpam-799	59	10	m	m	PROPN
ejpam-799	59	11	�	�	PROPN
ejpam-799	59	12	q	q	PROPN
ejpam-799	59	13	�	�	PROPN
ejpam-799	59	14	converges	converge	VERB
ejpam-799	59	15	in	in	ADP
ejpam-799	59	16	distribution	distribution	NOUN
ejpam-799	59	17	to	to	ADP
ejpam-799	59	18	n(0,1	n(0,1	NOUN
ejpam-799	59	19	)	)	PUNCT
ejpam-799	59	20	.	.	PUNCT
ejpam-799	60	1	hence	hence	ADV
ejpam-799	60	2	,	,	PUNCT
ejpam-799	60	3	given	give	VERB
ejpam-799	60	4	a	a	DET
ejpam-799	60	5	specific	specific	ADJ
ejpam-799	60	6	value	value	NOUN
ejpam-799	60	7	of	of	ADP
ejpam-799	60	8	q	q	NOUN
ejpam-799	60	9	,	,	PUNCT
ejpam-799	60	10	appropriate	appropriate	ADJ
ejpam-799	60	11	critical	critical	ADJ
ejpam-799	60	12	values	value	NOUN
ejpam-799	60	13	can	can	AUX
ejpam-799	60	14	be	be	AUX
ejpam-799	60	15	chosen	choose	VERB
ejpam-799	60	16	from	from	ADP
ejpam-799	60	17	n(0,1	n(0,1	NOUN
ejpam-799	60	18	)	)	PUNCT
ejpam-799	60	19	to	to	PART
ejpam-799	60	20	ensure	ensure	VERB
ejpam-799	60	21	the	the	DET
ejpam-799	60	22	asymptotically	asymptotically	ADV
ejpam-799	60	23	correct	correct	ADJ
ejpam-799	60	24	size	size	NOUN
ejpam-799	60	25	of	of	ADP
ejpam-799	60	26	the	the	DET
ejpam-799	60	27	test	test	NOUN
ejpam-799	60	28	.	.	PUNCT
ejpam-799	61	1	however	however	ADV
ejpam-799	61	2	,	,	PUNCT
ejpam-799	61	3	the	the	DET
ejpam-799	61	4	following	follow	VERB
ejpam-799	61	5	theorem	theorem	NOUN
ejpam-799	61	6	demonstrates	demonstrate	VERB
ejpam-799	61	7	that	that	SCONJ
ejpam-799	61	8	it	it	PRON
ejpam-799	61	9	is	be	AUX
ejpam-799	61	10	not	not	PART
ejpam-799	61	11	possible	possible	ADJ
ejpam-799	61	12	to	to	PART
ejpam-799	61	13	control	control	VERB
ejpam-799	61	14	the	the	DET
ejpam-799	61	15	test	test	NOUN
ejpam-799	61	16	size	size	NOUN
ejpam-799	61	17	if	if	SCONJ
ejpam-799	61	18	there	there	PRON
ejpam-799	61	19	is	be	VERB
ejpam-799	61	20	a	a	DET
ejpam-799	61	21	break	break	NOUN
ejpam-799	61	22	in	in	ADP
ejpam-799	61	23	drift	drift	NOUN
ejpam-799	61	24	(	(	PUNCT
ejpam-799	61	25	µ1	µ1	PROPN
ejpam-799	61	26	6=	6=	PROPN
ejpam-799	61	27	µ2	µ2	PROPN
ejpam-799	61	28	)	)	PUNCT
ejpam-799	61	29	.	.	PUNCT
ejpam-799	62	1	theorem	theorem	NOUN
ejpam-799	62	2	1	1	NUM
ejpam-799	62	3	.	.	PUNCT
ejpam-799	62	4	suppose	suppose	VERB
ejpam-799	62	5	that	that	SCONJ
ejpam-799	62	6	x	x	PROPN
ejpam-799	62	7	t	t	PROPN
ejpam-799	62	8	is	be	AUX
ejpam-799	62	9	generated	generate	VERB
ejpam-799	62	10	by	by	ADP
ejpam-799	62	11	(	(	PUNCT
ejpam-799	62	12	1	1	NUM
ejpam-799	62	13	)	)	PUNCT
ejpam-799	62	14	under	under	ADP
ejpam-799	62	15	the	the	DET
ejpam-799	62	16	random	random	ADJ
ejpam-799	62	17	walk	walk	NOUN
ejpam-799	62	18	hypothesis	hypothesis	NOUN
ejpam-799	62	19	.	.	PUNCT
ejpam-799	63	1	then	then	ADV
ejpam-799	63	2	,	,	PUNCT
ejpam-799	63	3	m	m	VERB
ejpam-799	63	4	�	�	PROPN
ejpam-799	63	5	q	q	PROPN
ejpam-799	63	6	�	�	PROPN
ejpam-799	63	7	p	p	X
ejpam-799	63	8	→	→	SYM
ejpam-799	63	9	qδ2τ(1−τ	qδ2τ(1−τ	NOUN
ejpam-799	63	10	)	)	PUNCT
ejpam-799	63	11	1	1	NUM
ejpam-799	63	12	+	+	SYM
ejpam-799	63	13	δ2τ(1−τ	δ2τ(1−τ	ADJ
ejpam-799	63	14	)	)	PUNCT
ejpam-799	63	15	,	,	PUNCT
ejpam-799	63	16	where	where	SCONJ
ejpam-799	63	17	δ	δ	PROPN
ejpam-799	63	18	=	=	SYM
ejpam-799	63	19	σ−1|µ1−µ2|	σ−1|µ1−µ2|	PROPN
ejpam-799	63	20	.	.	PUNCT
ejpam-799	64	1	proof	proof	NOUN
ejpam-799	64	2	.	.	PUNCT
ejpam-799	65	1	recalling	recall	VERB
ejpam-799	65	2	that	that	SCONJ
ejpam-799	65	3	mr	mr	PROPN
ejpam-799	65	4	�	�	PROPN
ejpam-799	65	5	q	q	PROPN
ejpam-799	65	6	�	�	PROPN
ejpam-799	65	7	=	=	PUNCT
ejpam-799	65	8	σ̂−2σ̂2	σ̂−2σ̂2	PROPN
ejpam-799	65	9	q	q	NOUN
ejpam-799	65	10	−	−	NOUN
ejpam-799	65	11	1	1	NUM
ejpam-799	65	12	,	,	PUNCT
ejpam-799	65	13	we	we	PRON
ejpam-799	65	14	first	first	ADV
ejpam-799	65	15	examine	examine	VERB
ejpam-799	65	16	the	the	DET
ejpam-799	65	17	probability	probability	NOUN
ejpam-799	65	18	limit	limit	NOUN
ejpam-799	65	19	of	of	ADP
ejpam-799	65	20	σ̂2	σ̂2	NOUN
ejpam-799	65	21	:	:	PUNCT
ejpam-799	65	22	σ̂2	σ̂2	X
ejpam-799	65	23	=	=	PUNCT
ejpam-799	65	24	t−1	t−1	PROPN
ejpam-799	65	25	t∑	t∑	PROPN
ejpam-799	65	26	t=1	t=1	PROPN
ejpam-799	65	27	�	�	PROPN
ejpam-799	65	28	rt	rt	PROPN
ejpam-799	65	29	−	−	PROPN
ejpam-799	65	30	bµ	bµ	PROPN
ejpam-799	65	31	�	�	PROPN
ejpam-799	65	32	2	2	NUM
ejpam-799	65	33	+	+	CCONJ
ejpam-799	65	34	op(1	op(1	NOUN
ejpam-799	65	35	)	)	PUNCT
ejpam-799	65	36	y.	y.	PROPN
ejpam-799	65	37	kim	kim	PROPN
ejpam-799	65	38	and	and	CCONJ
ejpam-799	65	39	t.	t.	PROPN
ejpam-799	65	40	kim	kim	PROPN
ejpam-799	65	41	/	/	SYM
ejpam-799	65	42	eur	eur	PROPN
ejpam-799	65	43	.	.	PUNCT
ejpam-799	66	1	j.	j.	PROPN
ejpam-799	66	2	pure	pure	PROPN
ejpam-799	66	3	appl	appl	PROPN
ejpam-799	66	4	.	.	PROPN
ejpam-799	66	5	math	math	PROPN
ejpam-799	66	6	,	,	PUNCT
ejpam-799	66	7	3	3	NUM
ejpam-799	66	8	(	(	PUNCT
ejpam-799	66	9	2010	2010	NUM
ejpam-799	66	10	)	)	PUNCT
ejpam-799	66	11	,	,	PUNCT
ejpam-799	66	12	502	502	NUM
ejpam-799	66	13	-	-	SYM
ejpam-799	66	14	518	518	NUM
ejpam-799	66	15	505	505	NUM
ejpam-799	66	16	=	=	PUNCT
ejpam-799	66	17	τµ2	τµ2	NOUN
ejpam-799	67	1	1	1	NUM
ejpam-799	67	2	+	+	CCONJ
ejpam-799	67	3	(	(	PUNCT
ejpam-799	67	4	1−τ)µ	1−τ)µ	NUM
ejpam-799	67	5	2	2	NUM
ejpam-799	67	6	2	2	NUM
ejpam-799	67	7	+	+	NUM
ejpam-799	67	8	t−1	t−1	PROPN
ejpam-799	67	9	t∑	t∑	NOUN
ejpam-799	67	10	t=1	t=1	PUNCT
ejpam-799	67	11	ǫt	ǫt	PROPN
ejpam-799	67	12	−	−	NOUN
ejpam-799	67	13	bµ2	bµ2	ADJ
ejpam-799	67	14	p	p	PROPN
ejpam-799	67	15	→	→	SYM
ejpam-799	67	16	σ2{1	σ2{1	PROPN
ejpam-799	67	17	+	+	X
ejpam-799	67	18	δ2τ(1−τ	δ2τ(1−τ	ADJ
ejpam-799	67	19	)	)	PUNCT
ejpam-799	67	20	}	}	PUNCT
ejpam-799	67	21	(	(	PUNCT
ejpam-799	67	22	3	3	X
ejpam-799	67	23	)	)	PUNCT
ejpam-799	67	24	using	use	VERB
ejpam-799	67	25	the	the	DET
ejpam-799	67	26	fact	fact	NOUN
ejpam-799	68	1	that	that	SCONJ
ejpam-799	68	2	bµ	bµ	PROPN
ejpam-799	68	3	p	p	X
ejpam-799	68	4	→	→	SYM
ejpam-799	68	5	τµ1	τµ1	PROPN
ejpam-799	68	6	+	+	CCONJ
ejpam-799	68	7	(	(	PUNCT
ejpam-799	68	8	1−τ)µ2	1−τ)µ2	NUM
ejpam-799	68	9	.	.	PUNCT
ejpam-799	69	1	next	next	ADV
ejpam-799	69	2	,	,	PUNCT
ejpam-799	69	3	we	we	PRON
ejpam-799	69	4	turn	turn	VERB
ejpam-799	69	5	to	to	ADP
ejpam-799	69	6	the	the	DET
ejpam-799	69	7	variance	variance	NOUN
ejpam-799	69	8	estimator	estimator	NOUN
ejpam-799	69	9	based	base	VERB
ejpam-799	69	10	on	on	ADP
ejpam-799	69	11	q−period	q−period	PUNCT
ejpam-799	69	12	returns	return	NOUN
ejpam-799	69	13	σ̂2	σ̂2	NOUN
ejpam-799	69	14	q	q	PROPN
ejpam-799	70	1	=	=	PUNCT
ejpam-799	70	2	(	(	PUNCT
ejpam-799	70	3	qt	qt	NOUN
ejpam-799	70	4	)	)	PUNCT
ejpam-799	70	5	−1	−1	NOUN
ejpam-799	70	6	t∑	t∑	PROPN
ejpam-799	70	7	t	t	PROPN
ejpam-799	70	8	=	=	PROPN
ejpam-799	70	9	q	q	PROPN
ejpam-799	70	10	�	�	PROPN
ejpam-799	70	11	rt	rt	PROPN
ejpam-799	70	12	�	�	PROPN
ejpam-799	70	13	q	q	PROPN
ejpam-799	70	14	�	�	PROPN
ejpam-799	70	15	−	−	PROPN
ejpam-799	70	16	qbµ	qbµ	NOUN
ejpam-799	70	17	�	�	PROPN
ejpam-799	70	18	2	2	NUM
ejpam-799	70	19	+	+	CCONJ
ejpam-799	70	20	op(1	op(1	NOUN
ejpam-799	70	21	)	)	PUNCT
ejpam-799	70	22	=	=	SYM
ejpam-799	71	1	q−1	q−1	PROPN
ejpam-799	71	2	q−1∑	q−1∑	NUM
ejpam-799	71	3	i=0	i=0	PROPN
ejpam-799	71	4	t−1	t−1	PROPN
ejpam-799	71	5	t∑	t∑	PROPN
ejpam-799	71	6	t	t	PROPN
ejpam-799	71	7	=	=	NOUN
ejpam-799	71	8	q	q	PROPN
ejpam-799	71	9	�	�	PROPN
ejpam-799	71	10	rt−i	rt−i	NOUN
ejpam-799	71	11	−	−	PROPN
ejpam-799	71	12	bµ	bµ	PROPN
ejpam-799	71	13	�	�	PROPN
ejpam-799	71	14	2	2	NUM
ejpam-799	71	15	+	+	CCONJ
ejpam-799	71	16	q−1	q−1	PROPN
ejpam-799	71	17	q−1∑	q−1∑	NUM
ejpam-799	71	18	i=0	i=0	PROPN
ejpam-799	71	19	q−1∑	q−1∑	NUM
ejpam-799	71	20	j=0(6	j=0(6	NOUN
ejpam-799	71	21	=	=	PROPN
ejpam-799	71	22	i	i	NOUN
ejpam-799	71	23	)	)	PUNCT
ejpam-799	71	24	t−1	t−1	PROPN
ejpam-799	71	25	t∑	t∑	PROPN
ejpam-799	71	26	t	t	PROPN
ejpam-799	71	27	=	=	NOUN
ejpam-799	71	28	q	q	PROPN
ejpam-799	71	29	�	�	PROPN
ejpam-799	71	30	rt−i	rt−i	NOUN
ejpam-799	71	31	−	−	PROPN
ejpam-799	71	32	bµ	bµ	PROPN
ejpam-799	71	33	�	�	PROPN
ejpam-799	71	34	�	�	PROPN
ejpam-799	71	35	rt−	rt−	NUM
ejpam-799	71	36	j	j	PROPN
ejpam-799	71	37	−	−	PROPN
ejpam-799	71	38	bµ	bµ	PROPN
ejpam-799	71	39	�	�	PROPN
ejpam-799	71	40	.	.	PUNCT
ejpam-799	72	1	it	it	PRON
ejpam-799	72	2	is	be	AUX
ejpam-799	72	3	straightforward	straightforward	ADJ
ejpam-799	72	4	to	to	PART
ejpam-799	72	5	show	show	VERB
ejpam-799	72	6	that	that	SCONJ
ejpam-799	72	7	t−1	t−1	PROPN
ejpam-799	72	8	t∑	t∑	PROPN
ejpam-799	72	9	t	t	PROPN
ejpam-799	72	10	=	=	NOUN
ejpam-799	72	11	q	q	PROPN
ejpam-799	72	12	�	�	PROPN
ejpam-799	72	13	rt−i	rt−i	NOUN
ejpam-799	72	14	−	−	PROPN
ejpam-799	72	15	bµ	bµ	PROPN
ejpam-799	72	16	�	�	PROPN
ejpam-799	72	17	2	2	NUM
ejpam-799	72	18	p	p	NOUN
ejpam-799	72	19	→	→	PUNCT
ejpam-799	72	20	σ2{1	σ2{1	PROPN
ejpam-799	72	21	+	+	X
ejpam-799	72	22	δ2τ(1−τ	δ2τ(1−τ	ADJ
ejpam-799	72	23	)	)	PUNCT
ejpam-799	72	24	}	}	PUNCT
ejpam-799	72	25	t−1	t−1	PROPN
ejpam-799	72	26	t∑	t∑	PROPN
ejpam-799	72	27	t	t	PROPN
ejpam-799	72	28	=	=	NOUN
ejpam-799	72	29	q	q	PROPN
ejpam-799	72	30	�	�	PROPN
ejpam-799	72	31	rt−i	rt−i	NOUN
ejpam-799	72	32	−	−	PROPN
ejpam-799	72	33	bµ	bµ	PROPN
ejpam-799	72	34	�	�	PROPN
ejpam-799	72	35	�	�	PROPN
ejpam-799	72	36	rt−	rt−	NUM
ejpam-799	72	37	j	j	PROPN
ejpam-799	72	38	−	−	PROPN
ejpam-799	72	39	bµ	bµ	PROPN
ejpam-799	72	40	�	�	PROPN
ejpam-799	72	41	p	p	X
ejpam-799	72	42	→	→	SYM
ejpam-799	72	43	σ2δ2τ(1−τ	σ2δ2τ(1−τ	PROPN
ejpam-799	72	44	)	)	PUNCT
ejpam-799	72	45	.	.	PUNCT
ejpam-799	73	1	hence	hence	ADV
ejpam-799	73	2	,	,	PUNCT
ejpam-799	73	3	we	we	PRON
ejpam-799	73	4	have	have	VERB
ejpam-799	73	5	σ̂2	σ̂2	PROPN
ejpam-799	73	6	q	q	PROPN
ejpam-799	73	7	p	p	X
ejpam-799	73	8	→	→	X
ejpam-799	73	9	σ2{1	σ2{1	PROPN
ejpam-799	73	10	+	+	NOUN
ejpam-799	73	11	qδ2τ(1−τ	qδ2τ(1−τ	ADJ
ejpam-799	73	12	)	)	PUNCT
ejpam-799	73	13	}	}	PUNCT
ejpam-799	73	14	.	.	PUNCT
ejpam-799	74	1	(	(	PUNCT
ejpam-799	74	2	4	4	X
ejpam-799	74	3	)	)	PUNCT
ejpam-799	74	4	combining	combine	VERB
ejpam-799	74	5	the	the	DET
ejpam-799	74	6	results	result	NOUN
ejpam-799	74	7	in	in	ADP
ejpam-799	74	8	(	(	PUNCT
ejpam-799	74	9	3	3	NUM
ejpam-799	74	10	)	)	PUNCT
ejpam-799	74	11	and	and	CCONJ
ejpam-799	74	12	(	(	PUNCT
ejpam-799	74	13	4	4	NUM
ejpam-799	74	14	)	)	PUNCT
ejpam-799	74	15	,	,	PUNCT
ejpam-799	74	16	we	we	PRON
ejpam-799	74	17	obtain	obtain	VERB
ejpam-799	74	18	the	the	DET
ejpam-799	74	19	desired	desire	VERB
ejpam-799	74	20	result	result	NOUN
ejpam-799	74	21	:	:	PUNCT
ejpam-799	74	22	m	m	VERB
ejpam-799	74	23	�	�	PROPN
ejpam-799	74	24	q	q	PROPN
ejpam-799	74	25	�	�	PROPN
ejpam-799	74	26	p	p	X
ejpam-799	74	27	→	→	SYM
ejpam-799	74	28	qδ2τ(1−τ	qδ2τ(1−τ	NOUN
ejpam-799	74	29	)	)	PUNCT
ejpam-799	74	30	1	1	NUM
ejpam-799	74	31	+	+	SYM
ejpam-799	74	32	δ2τ(1−τ	δ2τ(1−τ	ADJ
ejpam-799	74	33	)	)	PUNCT
ejpam-799	74	34	where	where	SCONJ
ejpam-799	74	35	δ	δ	PROPN
ejpam-799	74	36	=	=	SYM
ejpam-799	74	37	σ−1|µ1−µ2|	σ−1|µ1−µ2|	PROPN
ejpam-799	74	38	.	.	PUNCT
ejpam-799	75	1	we	we	PRON
ejpam-799	75	2	first	first	ADV
ejpam-799	75	3	note	note	VERB
ejpam-799	75	4	that	that	SCONJ
ejpam-799	75	5	the	the	DET
ejpam-799	75	6	probability	probability	NOUN
ejpam-799	75	7	limit	limit	NOUN
ejpam-799	75	8	of	of	ADP
ejpam-799	75	9	m	m	PROPN
ejpam-799	75	10	�	�	PROPN
ejpam-799	75	11	q	q	PROPN
ejpam-799	75	12	�	�	PROPN
ejpam-799	75	13	is	be	AUX
ejpam-799	75	14	positive	positive	ADJ
ejpam-799	75	15	and	and	CCONJ
ejpam-799	75	16	depends	depend	VERB
ejpam-799	75	17	on	on	ADP
ejpam-799	75	18	three	three	NUM
ejpam-799	75	19	parameters	parameter	NOUN
ejpam-799	75	20	:	:	PUNCT
ejpam-799	75	21	the	the	DET
ejpam-799	75	22	standardized	standardized	ADJ
ejpam-799	75	23	break	break	NOUN
ejpam-799	75	24	size	size	NOUN
ejpam-799	75	25	δ	δ	PROPN
ejpam-799	75	26	,	,	PUNCT
ejpam-799	75	27	the	the	DET
ejpam-799	75	28	break	break	NOUN
ejpam-799	75	29	time	time	NOUN
ejpam-799	75	30	τ	τ	PROPN
ejpam-799	75	31	,	,	PUNCT
ejpam-799	75	32	and	and	CCONJ
ejpam-799	75	33	the	the	DET
ejpam-799	75	34	holding	hold	VERB
ejpam-799	75	35	period	period	NOUN
ejpam-799	75	36	q.	q.	NOUN
ejpam-799	75	37	it	it	PRON
ejpam-799	75	38	is	be	AUX
ejpam-799	75	39	obvious	obvious	ADJ
ejpam-799	75	40	from	from	ADP
ejpam-799	75	41	the	the	DET
ejpam-799	75	42	expression	expression	NOUN
ejpam-799	75	43	that	that	SCONJ
ejpam-799	75	44	when	when	SCONJ
ejpam-799	75	45	there	there	PRON
ejpam-799	75	46	is	be	VERB
ejpam-799	75	47	no	no	DET
ejpam-799	75	48	break	break	NOUN
ejpam-799	75	49	(	(	PUNCT
ejpam-799	75	50	either	either	CCONJ
ejpam-799	75	51	δ	δ	PROPN
ejpam-799	75	52	=	=	SYM
ejpam-799	75	53	0	0	PROPN
ejpam-799	75	54	or	or	CCONJ
ejpam-799	75	55	τ	τ	X
ejpam-799	75	56	=	=	SYM
ejpam-799	75	57	0,1	0,1	NUM
ejpam-799	75	58	)	)	PUNCT
ejpam-799	75	59	,	,	PUNCT
ejpam-799	75	60	the	the	DET
ejpam-799	75	61	probability	probability	NOUN
ejpam-799	75	62	limit	limit	NOUN
ejpam-799	75	63	collapses	collapse	VERB
ejpam-799	75	64	to	to	ADP
ejpam-799	75	65	zero	zero	NUM
ejpam-799	75	66	,	,	PUNCT
ejpam-799	75	67	which	which	PRON
ejpam-799	75	68	corresponds	correspond	VERB
ejpam-799	75	69	to	to	ADP
ejpam-799	75	70	the	the	DET
ejpam-799	75	71	standard	standard	ADJ
ejpam-799	75	72	result	result	NOUN
ejpam-799	75	73	.	.	PUNCT
ejpam-799	76	1	an	an	DET
ejpam-799	76	2	immediate	immediate	ADJ
ejpam-799	76	3	consequence	consequence	NOUN
ejpam-799	76	4	of	of	ADP
ejpam-799	76	5	theorem	theorem	NOUN
ejpam-799	76	6	1	1	NUM
ejpam-799	76	7	is	be	AUX
ejpam-799	76	8	that	that	SCONJ
ejpam-799	76	9	the	the	DET
ejpam-799	76	10	standardized	standardized	ADJ
ejpam-799	76	11	variance	variance	NOUN
ejpam-799	76	12	ratio	ratio	NOUN
ejpam-799	76	13	statistic	statistic	NOUN
ejpam-799	76	14	z(q	z(q	NOUN
ejpam-799	76	15	)	)	PUNCT
ejpam-799	76	16	diverges	diverge	VERB
ejpam-799	76	17	to	to	ADP
ejpam-799	76	18	infinity	infinity	NOUN
ejpam-799	76	19	at	at	ADP
ejpam-799	76	20	the	the	DET
ejpam-799	76	21	rate	rate	NOUN
ejpam-799	76	22	of	of	ADP
ejpam-799	76	23	t	t	PROPN
ejpam-799	76	24	1/2	1/2	NUM
ejpam-799	76	25	;	;	PUNCT
ejpam-799	76	26	that	that	PRON
ejpam-799	76	27	is	is	ADV
ejpam-799	76	28	,	,	PUNCT
ejpam-799	76	29	t−1/2z(q	t−1/2z(q	ADJ
ejpam-799	76	30	)	)	PUNCT
ejpam-799	76	31	=	=	PUNCT
ejpam-799	76	32	op(1	op(1	PROPN
ejpam-799	76	33	)	)	PUNCT
ejpam-799	76	34	.	.	PUNCT
ejpam-799	77	1	thus	thus	ADV
ejpam-799	77	2	,	,	PUNCT
ejpam-799	77	3	a	a	DET
ejpam-799	77	4	routine	routine	ADJ
ejpam-799	77	5	application	application	NOUN
ejpam-799	77	6	of	of	ADP
ejpam-799	77	7	the	the	DET
ejpam-799	77	8	statistic	statistic	NOUN
ejpam-799	77	9	z(q	z(q	NOUN
ejpam-799	77	10	)	)	PUNCT
ejpam-799	77	11	based	base	VERB
ejpam-799	77	12	on	on	ADP
ejpam-799	77	13	critical	critical	ADJ
ejpam-799	77	14	values	value	NOUN
ejpam-799	77	15	from	from	ADP
ejpam-799	77	16	n(0,1	n(0,1	NOUN
ejpam-799	77	17	)	)	PUNCT
ejpam-799	77	18	is	be	AUX
ejpam-799	77	19	likely	likely	ADJ
ejpam-799	77	20	to	to	PART
ejpam-799	77	21	result	result	VERB
ejpam-799	77	22	in	in	ADP
ejpam-799	77	23	spurious	spurious	ADJ
ejpam-799	77	24	rejections	rejection	NOUN
ejpam-799	77	25	of	of	ADP
ejpam-799	77	26	the	the	DET
ejpam-799	77	27	random	random	ADJ
ejpam-799	77	28	walk	walk	NOUN
ejpam-799	77	29	hypothesis	hypothesis	NOUN
ejpam-799	77	30	even	even	ADV
ejpam-799	77	31	though	though	SCONJ
ejpam-799	77	32	the	the	DET
ejpam-799	77	33	null	null	NOUN
ejpam-799	77	34	is	be	AUX
ejpam-799	77	35	true	true	ADJ
ejpam-799	77	36	.	.	PUNCT
ejpam-799	78	1	as	as	SCONJ
ejpam-799	78	2	noted	note	VERB
ejpam-799	78	3	before	before	ADV
ejpam-799	78	4	,	,	PUNCT
ejpam-799	78	5	the	the	DET
ejpam-799	78	6	severity	severity	NOUN
ejpam-799	78	7	of	of	ADP
ejpam-799	78	8	spurious	spurious	ADJ
ejpam-799	78	9	rejections	rejection	NOUN
ejpam-799	78	10	would	would	AUX
ejpam-799	78	11	depend	depend	VERB
ejpam-799	78	12	on	on	ADP
ejpam-799	78	13	three	three	NUM
ejpam-799	78	14	parameters	parameter	NOUN
ejpam-799	78	15	:	:	PUNCT
ejpam-799	78	16	δ	δ	PROPN
ejpam-799	78	17	,	,	PUNCT
ejpam-799	78	18	τ	τ	PROPN
ejpam-799	78	19	,	,	PUNCT
ejpam-799	78	20	and	and	CCONJ
ejpam-799	78	21	q.	q.	VERB
ejpam-799	78	22	a	a	DET
ejpam-799	78	23	closer	close	ADJ
ejpam-799	78	24	examination	examination	NOUN
ejpam-799	78	25	of	of	ADP
ejpam-799	78	26	the	the	DET
ejpam-799	78	27	probability	probability	NOUN
ejpam-799	78	28	limit	limit	NOUN
ejpam-799	78	29	of	of	ADP
ejpam-799	78	30	m	m	PROPN
ejpam-799	78	31	�	�	PROPN
ejpam-799	78	32	q	q	PROPN
ejpam-799	78	33	�	�	PROPN
ejpam-799	78	34	predicts	predict	VERB
ejpam-799	78	35	that	that	SCONJ
ejpam-799	78	36	the	the	DET
ejpam-799	78	37	phenomenon	phenomenon	NOUN
ejpam-799	78	38	of	of	ADP
ejpam-799	78	39	spurious	spurious	ADJ
ejpam-799	78	40	rejections	rejection	NOUN
ejpam-799	78	41	would	would	AUX
ejpam-799	78	42	be	be	AUX
ejpam-799	78	43	more	more	ADV
ejpam-799	78	44	pronounced	pronounced	ADJ
ejpam-799	78	45	when	when	SCONJ
ejpam-799	78	46	(	(	PUNCT
ejpam-799	78	47	i	i	NOUN
ejpam-799	78	48	)	)	PUNCT
ejpam-799	78	49	the	the	DET
ejpam-799	78	50	holding	hold	VERB
ejpam-799	78	51	period	period	NOUN
ejpam-799	78	52	q	q	NOUN
ejpam-799	78	53	increases	increase	NOUN
ejpam-799	78	54	,	,	PUNCT
ejpam-799	78	55	(	(	PUNCT
ejpam-799	78	56	ii	ii	NOUN
ejpam-799	78	57	)	)	PUNCT
ejpam-799	78	58	the	the	DET
ejpam-799	78	59	standardized	standardized	ADJ
ejpam-799	78	60	break	break	NOUN
ejpam-799	78	61	size	size	NOUN
ejpam-799	78	62	δ	δ	PROPN
ejpam-799	78	63	becomes	become	VERB
ejpam-799	78	64	larger	large	ADJ
ejpam-799	78	65	,	,	PUNCT
ejpam-799	78	66	y.	y.	PROPN
ejpam-799	78	67	kim	kim	PROPN
ejpam-799	78	68	and	and	CCONJ
ejpam-799	78	69	t.	t.	PROPN
ejpam-799	78	70	kim	kim	PROPN
ejpam-799	78	71	/	/	SYM
ejpam-799	78	72	eur	eur	PROPN
ejpam-799	78	73	.	.	PUNCT
ejpam-799	79	1	j.	j.	PROPN
ejpam-799	79	2	pure	pure	PROPN
ejpam-799	79	3	appl	appl	PROPN
ejpam-799	79	4	.	.	PROPN
ejpam-799	79	5	math	math	PROPN
ejpam-799	79	6	,	,	PUNCT
ejpam-799	79	7	3	3	NUM
ejpam-799	79	8	(	(	PUNCT
ejpam-799	79	9	2010	2010	NUM
ejpam-799	79	10	)	)	PUNCT
ejpam-799	79	11	,	,	PUNCT
ejpam-799	79	12	502	502	NUM
ejpam-799	79	13	-	-	SYM
ejpam-799	79	14	518	518	NUM
ejpam-799	79	15	506	506	NUM
ejpam-799	79	16	and	and	CCONJ
ejpam-799	79	17	(	(	PUNCT
ejpam-799	79	18	iii	iii	X
ejpam-799	79	19	)	)	PUNCT
ejpam-799	79	20	the	the	DET
ejpam-799	79	21	structural	structural	ADJ
ejpam-799	79	22	break	break	NOUN
ejpam-799	79	23	occurs	occur	VERB
ejpam-799	79	24	in	in	ADP
ejpam-799	79	25	the	the	DET
ejpam-799	79	26	middle	middle	NOUN
ejpam-799	79	27	of	of	ADP
ejpam-799	79	28	the	the	DET
ejpam-799	79	29	sample	sample	NOUN
ejpam-799	79	30	size	size	NOUN
ejpam-799	79	31	(	(	PUNCT
ejpam-799	79	32	τ	τ	X
ejpam-799	79	33	=	=	NUM
ejpam-799	79	34	0.5	0.5	NUM
ejpam-799	79	35	)	)	PUNCT
ejpam-799	79	36	.	.	PUNCT
ejpam-799	80	1	these	these	DET
ejpam-799	80	2	predictions	prediction	NOUN
ejpam-799	80	3	are	be	AUX
ejpam-799	80	4	confirmed	confirm	VERB
ejpam-799	80	5	in	in	ADP
ejpam-799	80	6	figure	figure	NOUN
ejpam-799	80	7	1	1	NUM
ejpam-799	80	8	in	in	ADP
ejpam-799	80	9	which	which	PRON
ejpam-799	80	10	we	we	PRON
ejpam-799	80	11	graph	graph	VERB
ejpam-799	80	12	the	the	DET
ejpam-799	80	13	probability	probability	NOUN
ejpam-799	80	14	limit	limit	NOUN
ejpam-799	80	15	against	against	ADP
ejpam-799	80	16	δ	δ	PROPN
ejpam-799	80	17	and	and	CCONJ
ejpam-799	80	18	τ	τ	PROPN
ejpam-799	80	19	while	while	SCONJ
ejpam-799	80	20	fixing	fix	VERB
ejpam-799	80	21	the	the	DET
ejpam-799	80	22	holding	hold	VERB
ejpam-799	80	23	period	period	NOUN
ejpam-799	80	24	q	q	NOUN
ejpam-799	80	25	at	at	ADP
ejpam-799	80	26	two	two	NUM
ejpam-799	80	27	.	.	PUNCT
ejpam-799	81	1	the	the	DET
ejpam-799	81	2	graph	graph	NOUN
ejpam-799	81	3	clearly	clearly	ADV
ejpam-799	81	4	shows	show	VERB
ejpam-799	81	5	that	that	SCONJ
ejpam-799	81	6	the	the	DET
ejpam-799	81	7	probability	probability	NOUN
ejpam-799	81	8	limit	limit	NOUN
ejpam-799	81	9	is	be	AUX
ejpam-799	81	10	an	an	DET
ejpam-799	81	11	increasing	increase	VERB
ejpam-799	81	12	function	function	NOUN
ejpam-799	81	13	of	of	ADP
ejpam-799	81	14	δ	δ	PROPN
ejpam-799	81	15	and	and	CCONJ
ejpam-799	81	16	is	be	AUX
ejpam-799	81	17	maximised	maximise	VERB
ejpam-799	81	18	when	when	SCONJ
ejpam-799	81	19	τ=	τ=	PROPN
ejpam-799	81	20	0.5	0.5	NUM
ejpam-799	81	21	.	.	NOUN
ejpam-799	82	1	3	3	X
ejpam-799	82	2	.	.	X
ejpam-799	82	3	monte	monte	PROPN
ejpam-799	82	4	carlo	carlo	PROPN
ejpam-799	82	5	simulations	simulation	NOUN
ejpam-799	82	6	in	in	ADP
ejpam-799	82	7	the	the	DET
ejpam-799	82	8	previous	previous	ADJ
ejpam-799	82	9	section	section	NOUN
ejpam-799	82	10	,	,	PUNCT
ejpam-799	82	11	the	the	DET
ejpam-799	82	12	phenomenon	phenomenon	NOUN
ejpam-799	82	13	of	of	ADP
ejpam-799	82	14	spurious	spurious	ADJ
ejpam-799	82	15	rejections	rejection	NOUN
ejpam-799	82	16	has	have	AUX
ejpam-799	82	17	been	be	AUX
ejpam-799	82	18	demonstrated	demonstrate	VERB
ejpam-799	82	19	in	in	ADP
ejpam-799	82	20	large	large	ADJ
ejpam-799	82	21	samples	sample	NOUN
ejpam-799	82	22	.	.	PUNCT
ejpam-799	83	1	naturally	naturally	ADV
ejpam-799	83	2	,	,	PUNCT
ejpam-799	83	3	it	it	PRON
ejpam-799	83	4	may	may	AUX
ejpam-799	83	5	be	be	AUX
ejpam-799	83	6	interesting	interesting	ADJ
ejpam-799	83	7	to	to	PART
ejpam-799	83	8	investigate	investigate	VERB
ejpam-799	83	9	whether	whether	SCONJ
ejpam-799	83	10	the	the	DET
ejpam-799	83	11	same	same	ADJ
ejpam-799	83	12	phenomenon	phenomenon	NOUN
ejpam-799	83	13	can	can	AUX
ejpam-799	83	14	occur	occur	VERB
ejpam-799	83	15	in	in	ADP
ejpam-799	83	16	finite	finite	ADJ
ejpam-799	83	17	samples	sample	NOUN
ejpam-799	83	18	and	and	CCONJ
ejpam-799	83	19	,	,	PUNCT
ejpam-799	83	20	if	if	SCONJ
ejpam-799	83	21	it	it	PRON
ejpam-799	83	22	can	can	AUX
ejpam-799	83	23	,	,	PUNCT
ejpam-799	83	24	how	how	SCONJ
ejpam-799	83	25	serious	serious	ADJ
ejpam-799	83	26	the	the	DET
ejpam-799	83	27	size	size	NOUN
ejpam-799	83	28	distortion	distortion	NOUN
ejpam-799	83	29	might	might	AUX
ejpam-799	83	30	be	be	AUX
ejpam-799	83	31	in	in	ADP
ejpam-799	83	32	such	such	ADJ
ejpam-799	83	33	circumstances	circumstance	NOUN
ejpam-799	83	34	.	.	PUNCT
ejpam-799	84	1	we	we	PRON
ejpam-799	84	2	generate	generate	VERB
ejpam-799	84	3	data	datum	NOUN
ejpam-799	84	4	through	through	ADP
ejpam-799	84	5	(	(	PUNCT
ejpam-799	84	6	1	1	NUM
ejpam-799	84	7	)	)	PUNCT
ejpam-799	84	8	and	and	CCONJ
ejpam-799	84	9	(	(	PUNCT
ejpam-799	84	10	2	2	NUM
ejpam-799	84	11	)	)	PUNCT
ejpam-799	84	12	.	.	PUNCT
ejpam-799	85	1	the	the	DET
ejpam-799	85	2	error	error	NOUN
ejpam-799	85	3	terms	term	NOUN
ejpam-799	85	4	ǫt	ǫt	PRON
ejpam-799	85	5	are	be	AUX
ejpam-799	85	6	drawn	draw	VERB
ejpam-799	85	7	from	from	ADP
ejpam-799	85	8	n(0,1	n(0,1	NOUN
ejpam-799	85	9	)	)	PUNCT
ejpam-799	85	10	.	.	PUNCT
ejpam-799	86	1	we	we	PRON
ejpam-799	86	2	normalise	normalise	VERB
ejpam-799	86	3	µ1	µ1	PROPN
ejpam-799	86	4	at	at	ADP
ejpam-799	86	5	zero	zero	NUM
ejpam-799	86	6	and	and	CCONJ
ejpam-799	86	7	use	use	VERB
ejpam-799	86	8	various	various	ADJ
ejpam-799	86	9	values	value	NOUN
ejpam-799	86	10	of	of	ADP
ejpam-799	86	11	µ2	µ2	PROPN
ejpam-799	86	12	:	:	PUNCT
ejpam-799	86	13	µ2	µ2	PROPN
ejpam-799	86	14	=	=	PUNCT
ejpam-799	86	15	0.1,0.2,0.3,0.4	0.1,0.2,0.3,0.4	PROPN
ejpam-799	86	16	.	.	PUNCT
ejpam-799	87	1	since	since	SCONJ
ejpam-799	87	2	σ	σ	NOUN
ejpam-799	87	3	=	=	SYM
ejpam-799	87	4	1	1	NUM
ejpam-799	87	5	and	and	CCONJ
ejpam-799	87	6	µ1	µ1	PROPN
ejpam-799	87	7	=	=	SYM
ejpam-799	87	8	0	0	NUM
ejpam-799	87	9	,	,	PUNCT
ejpam-799	87	10	the	the	DET
ejpam-799	87	11	standardized	standardized	ADJ
ejpam-799	87	12	break	break	NOUN
ejpam-799	87	13	size	size	NOUN
ejpam-799	87	14	δ	δ	PROPN
ejpam-799	87	15	is	be	AUX
ejpam-799	87	16	now	now	ADV
ejpam-799	87	17	equal	equal	ADJ
ejpam-799	87	18	to	to	ADP
ejpam-799	87	19	µ2	µ2	PROPN
ejpam-799	87	20	.	.	PUNCT
ejpam-799	88	1	in	in	ADP
ejpam-799	88	2	the	the	DET
ejpam-799	88	3	simulations	simulation	NOUN
ejpam-799	88	4	,	,	PUNCT
ejpam-799	88	5	we	we	PRON
ejpam-799	88	6	set	set	VERB
ejpam-799	88	7	t	t	PROPN
ejpam-799	88	8	=	=	SYM
ejpam-799	88	9	500,1000	500,1000	NUM
ejpam-799	88	10	and	and	CCONJ
ejpam-799	88	11	q	q	NOUN
ejpam-799	88	12	=	=	SYM
ejpam-799	88	13	4,8	4,8	NUM
ejpam-799	88	14	.	.	PUNCT
ejpam-799	89	1	the	the	DET
ejpam-799	89	2	number	number	NOUN
ejpam-799	89	3	of	of	ADP
ejpam-799	89	4	replications	replication	NOUN
ejpam-799	89	5	in	in	ADP
ejpam-799	89	6	all	all	DET
ejpam-799	89	7	experiments	experiment	NOUN
ejpam-799	89	8	is	be	AUX
ejpam-799	89	9	1000	1000	NUM
ejpam-799	89	10	.	.	PUNCT
ejpam-799	90	1	in	in	ADP
ejpam-799	90	2	figure	figure	NOUN
ejpam-799	90	3	2	2	NUM
ejpam-799	90	4	,	,	PUNCT
ejpam-799	90	5	for	for	ADP
ejpam-799	90	6	the	the	DET
ejpam-799	90	7	specified	specified	ADJ
ejpam-799	90	8	values	value	NOUN
ejpam-799	90	9	of	of	ADP
ejpam-799	90	10	t	t	PROPN
ejpam-799	90	11	and	and	CCONJ
ejpam-799	90	12	q	q	X
ejpam-799	90	13	,	,	PUNCT
ejpam-799	90	14	we	we	PRON
ejpam-799	90	15	plot	plot	VERB
ejpam-799	90	16	the	the	DET
ejpam-799	90	17	rejection	rejection	NOUN
ejpam-799	90	18	probability	probability	NOUN
ejpam-799	90	19	of	of	ADP
ejpam-799	90	20	the	the	DET
ejpam-799	90	21	test	test	NOUN
ejpam-799	90	22	z(q	z(q	PROPN
ejpam-799	90	23	)	)	PUNCT
ejpam-799	90	24	at	at	ADP
ejpam-799	90	25	the	the	DET
ejpam-799	90	26	5	5	NUM
ejpam-799	90	27	%	%	NOUN
ejpam-799	90	28	significance	significance	NOUN
ejpam-799	90	29	level	level	NOUN
ejpam-799	90	30	against	against	ADP
ejpam-799	90	31	the	the	DET
ejpam-799	90	32	break	break	NOUN
ejpam-799	90	33	fraction	fraction	NOUN
ejpam-799	90	34	τ	τ	X
ejpam-799	90	35	ranging	range	VERB
ejpam-799	90	36	from	from	ADP
ejpam-799	90	37	0	0	NUM
ejpam-799	90	38	to	to	PART
ejpam-799	90	39	1	1	NUM
ejpam-799	90	40	.	.	PUNCT
ejpam-799	90	41	figure	figure	NOUN
ejpam-799	90	42	2(i	2(i	NUM
ejpam-799	90	43	)	)	PUNCT
ejpam-799	90	44	displays	display	VERB
ejpam-799	90	45	the	the	DET
ejpam-799	90	46	results	result	NOUN
ejpam-799	90	47	when	when	SCONJ
ejpam-799	90	48	t	t	PROPN
ejpam-799	90	49	=	=	SYM
ejpam-799	90	50	500	500	NUM
ejpam-799	90	51	and	and	CCONJ
ejpam-799	90	52	q	q	NOUN
ejpam-799	90	53	=	=	NOUN
ejpam-799	90	54	4	4	NUM
ejpam-799	90	55	,	,	PUNCT
ejpam-799	90	56	which	which	PRON
ejpam-799	90	57	indicates	indicate	VERB
ejpam-799	90	58	that	that	SCONJ
ejpam-799	90	59	the	the	DET
ejpam-799	90	60	size	size	NOUN
ejpam-799	90	61	distortion	distortion	NOUN
ejpam-799	90	62	is	be	AUX
ejpam-799	90	63	fairly	fairly	ADV
ejpam-799	90	64	mild	mild	ADJ
ejpam-799	90	65	for	for	ADP
ejpam-799	90	66	smaller	small	ADJ
ejpam-799	90	67	values	value	NOUN
ejpam-799	90	68	of	of	ADP
ejpam-799	90	69	µ2	µ2	PROPN
ejpam-799	90	70	.	.	PUNCT
ejpam-799	91	1	however	however	ADV
ejpam-799	91	2	,	,	PUNCT
ejpam-799	91	3	when	when	SCONJ
ejpam-799	91	4	the	the	DET
ejpam-799	91	5	break	break	NOUN
ejpam-799	91	6	fraction	fraction	NOUN
ejpam-799	91	7	is	be	AUX
ejpam-799	91	8	around	around	ADV
ejpam-799	91	9	0.5	0.5	NUM
ejpam-799	91	10	and	and	CCONJ
ejpam-799	91	11	the	the	DET
ejpam-799	91	12	standardized	standardized	ADJ
ejpam-799	91	13	break	break	NOUN
ejpam-799	91	14	size	size	NOUN
ejpam-799	91	15	becomes	become	VERB
ejpam-799	91	16	larger	large	ADJ
ejpam-799	91	17	,	,	PUNCT
ejpam-799	91	18	the	the	DET
ejpam-799	91	19	rejection	rejection	NOUN
ejpam-799	91	20	probability	probability	NOUN
ejpam-799	91	21	can	can	AUX
ejpam-799	91	22	reach	reach	VERB
ejpam-799	91	23	up	up	ADP
ejpam-799	91	24	to	to	PART
ejpam-799	91	25	30	30	NUM
ejpam-799	91	26	%	%	NOUN
ejpam-799	91	27	.	.	PUNCT
ejpam-799	92	1	as	as	SCONJ
ejpam-799	92	2	we	we	PRON
ejpam-799	92	3	increase	increase	VERB
ejpam-799	92	4	the	the	DET
ejpam-799	92	5	holding	hold	VERB
ejpam-799	92	6	period	period	NOUN
ejpam-799	92	7	q	q	NOUN
ejpam-799	92	8	from	from	ADP
ejpam-799	92	9	4	4	NUM
ejpam-799	92	10	to	to	PART
ejpam-799	92	11	8	8	NUM
ejpam-799	92	12	[	[	NOUN
ejpam-799	92	13	figure	figure	NOUN
ejpam-799	92	14	2(ii	2(ii	NUM
ejpam-799	92	15	)	)	PUNCT
ejpam-799	92	16	]	]	PUNCT
ejpam-799	92	17	,	,	PUNCT
ejpam-799	92	18	and	and	CCONJ
ejpam-799	92	19	as	as	SCONJ
ejpam-799	92	20	we	we	PRON
ejpam-799	92	21	increase	increase	VERB
ejpam-799	92	22	the	the	DET
ejpam-799	92	23	sample	sample	NOUN
ejpam-799	92	24	size	size	NOUN
ejpam-799	92	25	t	t	PROPN
ejpam-799	92	26	from	from	ADP
ejpam-799	92	27	500	500	NUM
ejpam-799	92	28	to	to	PART
ejpam-799	92	29	1000	1000	NUM
ejpam-799	92	30	[	[	NOUN
ejpam-799	92	31	figure	figure	NOUN
ejpam-799	92	32	2(iii	2(iii	NUM
ejpam-799	92	33	)	)	PUNCT
ejpam-799	92	34	and	and	CCONJ
ejpam-799	92	35	figure	figure	VERB
ejpam-799	92	36	2(iv	2(iv	NUM
ejpam-799	92	37	)	)	PUNCT
ejpam-799	92	38	]	]	PUNCT
ejpam-799	92	39	,	,	PUNCT
ejpam-799	92	40	the	the	DET
ejpam-799	92	41	size	size	NOUN
ejpam-799	92	42	distortion	distortion	NOUN
ejpam-799	92	43	becomes	become	VERB
ejpam-799	92	44	more	more	ADV
ejpam-799	92	45	pronounced	pronounced	ADJ
ejpam-799	92	46	.	.	PUNCT
ejpam-799	93	1	obviously	obviously	ADV
ejpam-799	93	2	,	,	PUNCT
ejpam-799	93	3	the	the	DET
ejpam-799	93	4	size	size	NOUN
ejpam-799	93	5	distortion	distortion	NOUN
ejpam-799	93	6	disappears	disappear	VERB
ejpam-799	93	7	as	as	ADP
ejpam-799	93	8	either	either	CCONJ
ejpam-799	93	9	τ→	τ→	SYM
ejpam-799	93	10	0	0	NUM
ejpam-799	93	11	or	or	CCONJ
ejpam-799	93	12	τ→	τ→	SYM
ejpam-799	93	13	1	1	NUM
ejpam-799	93	14	in	in	ADP
ejpam-799	93	15	all	all	DET
ejpam-799	93	16	figures	figure	NOUN
ejpam-799	93	17	.	.	PUNCT
ejpam-799	94	1	in	in	ADP
ejpam-799	94	2	figure	figure	NOUN
ejpam-799	94	3	2	2	NUM
ejpam-799	94	4	,	,	PUNCT
ejpam-799	94	5	we	we	PRON
ejpam-799	94	6	have	have	AUX
ejpam-799	94	7	investigated	investigate	VERB
ejpam-799	94	8	only	only	ADV
ejpam-799	94	9	the	the	DET
ejpam-799	94	10	case	case	NOUN
ejpam-799	94	11	in	in	ADP
ejpam-799	94	12	which	which	PRON
ejpam-799	94	13	there	there	PRON
ejpam-799	94	14	is	be	VERB
ejpam-799	94	15	an	an	DET
ejpam-799	94	16	increase	increase	NOUN
ejpam-799	94	17	in	in	ADP
ejpam-799	94	18	drift	drift	NOUN
ejpam-799	94	19	;	;	PUNCT
ejpam-799	94	20	i.e.	i.e.	X
ejpam-799	94	21	µ1	µ1	PROPN
ejpam-799	94	22	<	<	X
ejpam-799	94	23	µ2	µ2	PROPN
ejpam-799	94	24	.	.	PUNCT
ejpam-799	95	1	we	we	PRON
ejpam-799	95	2	have	have	AUX
ejpam-799	95	3	simulated	simulate	VERB
ejpam-799	95	4	the	the	DET
ejpam-799	95	5	opposite	opposite	ADJ
ejpam-799	95	6	cases	case	NOUN
ejpam-799	95	7	(	(	PUNCT
ejpam-799	95	8	a	a	DET
ejpam-799	95	9	decrease	decrease	NOUN
ejpam-799	95	10	in	in	ADP
ejpam-799	95	11	drift	drift	NOUN
ejpam-799	95	12	)	)	PUNCT
ejpam-799	95	13	by	by	ADP
ejpam-799	95	14	setting	set	VERB
ejpam-799	95	15	µ2	µ2	PROPN
ejpam-799	95	16	=	=	PROPN
ejpam-799	95	17	−0.1,−0.2,−0.3,−0.4	−0.1,−0.2,−0.3,−0.4	NOUN
ejpam-799	95	18	.	.	PUNCT
ejpam-799	96	1	the	the	DET
ejpam-799	96	2	results	result	NOUN
ejpam-799	96	3	,	,	PUNCT
ejpam-799	96	4	as	as	SCONJ
ejpam-799	96	5	expected	expect	VERB
ejpam-799	96	6	from	from	ADP
ejpam-799	96	7	theorem	theorem	NOUN
ejpam-799	96	8	1	1	NUM
ejpam-799	96	9	,	,	PUNCT
ejpam-799	96	10	are	be	AUX
ejpam-799	96	11	entirely	entirely	ADV
ejpam-799	96	12	symmetric	symmetric	ADJ
ejpam-799	96	13	and	and	CCONJ
ejpam-799	96	14	the	the	DET
ejpam-799	96	15	plots	plot	NOUN
ejpam-799	96	16	are	be	AUX
ejpam-799	96	17	identical	identical	ADJ
ejpam-799	96	18	to	to	ADP
ejpam-799	96	19	the	the	DET
ejpam-799	96	20	ones	one	NOUN
ejpam-799	96	21	in	in	ADP
ejpam-799	96	22	figure	figure	NOUN
ejpam-799	96	23	2	2	NUM
ejpam-799	96	24	.	.	PUNCT
ejpam-799	97	1	hence	hence	ADV
ejpam-799	97	2	,	,	PUNCT
ejpam-799	97	3	we	we	PRON
ejpam-799	97	4	do	do	AUX
ejpam-799	97	5	not	not	PART
ejpam-799	97	6	report	report	VERB
ejpam-799	97	7	them	they	PRON
ejpam-799	97	8	.	.	PUNCT
ejpam-799	98	1	lo	lo	NOUN
ejpam-799	98	2	and	and	CCONJ
ejpam-799	98	3	mackinlay	mackinlay	NOUN
ejpam-799	98	4	[	[	X
ejpam-799	98	5	10	10	NUM
ejpam-799	98	6	]	]	PUNCT
ejpam-799	98	7	also	also	ADV
ejpam-799	98	8	proposed	propose	VERB
ejpam-799	98	9	a	a	DET
ejpam-799	98	10	variance	variance	NOUN
ejpam-799	98	11	ratio	ratio	NOUN
ejpam-799	98	12	test	test	NOUN
ejpam-799	98	13	that	that	PRON
ejpam-799	98	14	is	be	AUX
ejpam-799	98	15	robust	robust	ADJ
ejpam-799	98	16	to	to	ADP
ejpam-799	98	17	general	general	ADJ
ejpam-799	98	18	forms	form	NOUN
ejpam-799	98	19	of	of	ADP
ejpam-799	98	20	heteroscedasticity	heteroscedasticity	NOUN
ejpam-799	98	21	using	use	VERB
ejpam-799	98	22	the	the	DET
ejpam-799	98	23	heteroscedasticity	heteroscedasticity	NOUN
ejpam-799	98	24	-	-	PUNCT
ejpam-799	98	25	consistent	consistent	ADJ
ejpam-799	98	26	results	result	NOUN
ejpam-799	98	27	of	of	ADP
ejpam-799	98	28	[	[	X
ejpam-799	98	29	22	22	NUM
ejpam-799	98	30	,	,	PUNCT
ejpam-799	98	31	23	23	NUM
ejpam-799	98	32	,	,	PUNCT
ejpam-799	98	33	24	24	NUM
ejpam-799	98	34	]	]	PUNCT
ejpam-799	98	35	.	.	PUNCT
ejpam-799	99	1	the	the	DET
ejpam-799	99	2	heteroscedasticity	heteroscedasticity	NOUN
ejpam-799	99	3	-	-	PUNCT
ejpam-799	99	4	robust	robust	ADJ
ejpam-799	99	5	variance	variance	NOUN
ejpam-799	99	6	ratio	ratio	NOUN
ejpam-799	99	7	test	test	NOUN
ejpam-799	99	8	statistic	statistic	NOUN
ejpam-799	99	9	,	,	PUNCT
ejpam-799	99	10	denoted	denote	VERB
ejpam-799	99	11	by	by	ADP
ejpam-799	99	12	z∗	z∗	PROPN
ejpam-799	99	13	�	�	PROPN
ejpam-799	99	14	q	q	PROPN
ejpam-799	99	15	�	�	PROPN
ejpam-799	99	16	,	,	PUNCT
ejpam-799	99	17	is	be	AUX
ejpam-799	99	18	given	give	VERB
ejpam-799	99	19	by	by	ADP
ejpam-799	99	20	z∗	z∗	PROPN
ejpam-799	99	21	�	�	PROPN
ejpam-799	99	22	q	q	PROPN
ejpam-799	99	23	�	�	PROPN
ejpam-799	99	24	=	=	SYM
ejpam-799	99	25	v̂−1/2	v̂−1/2	PROPN
ejpam-799	99	26	m	m	VERB
ejpam-799	99	27	�	�	PROPN
ejpam-799	99	28	q	q	PROPN
ejpam-799	99	29	�	�	PROPN
ejpam-799	99	30	,	,	PUNCT
ejpam-799	99	31	(	(	PUNCT
ejpam-799	99	32	5	5	X
ejpam-799	99	33	)	)	PUNCT
ejpam-799	99	34	where	where	SCONJ
ejpam-799	99	35	v̂	v̂	NOUN
ejpam-799	99	36	=	=	SYM
ejpam-799	99	37	q−1∑	q−1∑	NUM
ejpam-799	99	38	j=1	j=1	PROPN
ejpam-799	99	39	�	�	PROPN
ejpam-799	99	40	2	2	NUM
ejpam-799	99	41	�	�	PROPN
ejpam-799	99	42	q−	q−	PROPN
ejpam-799	99	43	j	j	PROPN
ejpam-799	99	44	�	�	PROPN
ejpam-799	99	45	q	q	PROPN
ejpam-799	99	46	�	�	PROPN
ejpam-799	99	47	2	2	NUM
ejpam-799	99	48	δ̂	δ̂	PRON
ejpam-799	99	49	�	�	PROPN
ejpam-799	99	50	j	j	PROPN
ejpam-799	99	51	�	�	PROPN
ejpam-799	99	52	,	,	PUNCT
ejpam-799	99	53	δ̂	δ̂	PROPN
ejpam-799	99	54	�	�	PROPN
ejpam-799	99	55	j	j	PROPN
ejpam-799	99	56	�	�	PROPN
ejpam-799	99	57	=	=	SYM
ejpam-799	99	58	∑t	∑t	PROPN
ejpam-799	99	59	k=	k=	X
ejpam-799	99	60	j+1	j+1	PROPN
ejpam-799	99	61	�	�	PROPN
ejpam-799	99	62	rk	rk	NOUN
ejpam-799	99	63	−	−	PROPN
ejpam-799	99	64	µ̂	µ̂	X
ejpam-799	99	65	�	�	PROPN
ejpam-799	99	66	2	2	NUM
ejpam-799	99	67	�	�	PROPN
ejpam-799	99	68	rk−	rk−	NUM
ejpam-799	99	69	j	j	NOUN
ejpam-799	99	70	−	−	X
ejpam-799	99	71	µ̂	µ̂	X
ejpam-799	99	72	�	�	PROPN
ejpam-799	99	73	2	2	NUM
ejpam-799	99	74	h∑t	h∑t	PROPN
ejpam-799	99	75	k=1	k=1	PROPN
ejpam-799	99	76	�	�	PROPN
ejpam-799	99	77	rk	rk	PROPN
ejpam-799	99	78	−	−	PROPN
ejpam-799	99	79	µ̂	µ̂	X
ejpam-799	99	80	�	�	PROPN
ejpam-799	99	81	2	2	NUM
ejpam-799	99	82	i2	i2	NOUN
ejpam-799	99	83	.	.	PUNCT
ejpam-799	100	1	under	under	ADP
ejpam-799	100	2	the	the	DET
ejpam-799	100	3	null	null	ADJ
ejpam-799	100	4	hypothesis	hypothesis	NOUN
ejpam-799	100	5	that	that	PRON
ejpam-799	100	6	returns	return	NOUN
ejpam-799	100	7	are	be	AUX
ejpam-799	100	8	heteroscedastic	heteroscedastic	ADJ
ejpam-799	100	9	but	but	CCONJ
ejpam-799	100	10	uncorrelated	uncorrelated	ADJ
ejpam-799	100	11	,	,	PUNCT
ejpam-799	100	12	lo	lo	PROPN
ejpam-799	100	13	and	and	CCONJ
ejpam-799	100	14	mackinlay	mackinlay	NOUN
ejpam-799	100	15	showed	show	VERB
ejpam-799	100	16	that	that	SCONJ
ejpam-799	100	17	z∗	z∗	PROPN
ejpam-799	100	18	�	�	PROPN
ejpam-799	100	19	q	q	PROPN
ejpam-799	100	20	�	�	PROPN
ejpam-799	100	21	is	be	AUX
ejpam-799	100	22	asymptotically	asymptotically	ADV
ejpam-799	100	23	distributed	distribute	VERB
ejpam-799	100	24	as	as	ADP
ejpam-799	100	25	n(0,1	n(0,1	NOUN
ejpam-799	100	26	)	)	PUNCT
ejpam-799	100	27	.	.	PUNCT
ejpam-799	101	1	we	we	PRON
ejpam-799	101	2	have	have	AUX
ejpam-799	101	3	repeated	repeat	VERB
ejpam-799	101	4	the	the	DET
ejpam-799	101	5	same	same	ADJ
ejpam-799	101	6	experiments	experiment	NOUN
ejpam-799	101	7	as	as	SCONJ
ejpam-799	101	8	shown	show	VERB
ejpam-799	101	9	in	in	ADP
ejpam-799	101	10	figure	figure	NOUN
ejpam-799	101	11	2	2	NUM
ejpam-799	101	12	,	,	PUNCT
ejpam-799	101	13	but	but	CCONJ
ejpam-799	101	14	replacing	replace	VERB
ejpam-799	101	15	z(q	z(q	NOUN
ejpam-799	101	16	)	)	PUNCT
ejpam-799	101	17	with	with	ADP
ejpam-799	101	18	z∗(q	z∗(q	PROPN
ejpam-799	101	19	)	)	PUNCT
ejpam-799	101	20	.	.	PUNCT
ejpam-799	102	1	we	we	PRON
ejpam-799	102	2	have	have	AUX
ejpam-799	102	3	found	find	VERB
ejpam-799	102	4	that	that	SCONJ
ejpam-799	102	5	the	the	DET
ejpam-799	102	6	y.	y.	PROPN
ejpam-799	102	7	kim	kim	PROPN
ejpam-799	102	8	and	and	CCONJ
ejpam-799	102	9	t.	t.	PROPN
ejpam-799	102	10	kim	kim	PROPN
ejpam-799	102	11	/	/	SYM
ejpam-799	102	12	eur	eur	PROPN
ejpam-799	102	13	.	.	PUNCT
ejpam-799	103	1	j.	j.	PROPN
ejpam-799	103	2	pure	pure	PROPN
ejpam-799	103	3	appl	appl	PROPN
ejpam-799	103	4	.	.	PROPN
ejpam-799	103	5	math	math	PROPN
ejpam-799	103	6	,	,	PUNCT
ejpam-799	103	7	3	3	NUM
ejpam-799	103	8	(	(	PUNCT
ejpam-799	103	9	2010	2010	NUM
ejpam-799	103	10	)	)	PUNCT
ejpam-799	103	11	,	,	PUNCT
ejpam-799	103	12	502	502	NUM
ejpam-799	103	13	-	-	SYM
ejpam-799	103	14	518	518	NUM
ejpam-799	103	15	507	507	NUM
ejpam-799	103	16	results	result	NOUN
ejpam-799	103	17	are	be	AUX
ejpam-799	103	18	virtually	virtually	ADV
ejpam-799	103	19	the	the	DET
ejpam-799	103	20	same	same	ADJ
ejpam-799	103	21	;	;	PUNCT
ejpam-799	103	22	that	that	ADV
ejpam-799	103	23	is	is	ADV
ejpam-799	103	24	,	,	PUNCT
ejpam-799	103	25	the	the	DET
ejpam-799	103	26	same	same	ADJ
ejpam-799	103	27	phenomenon	phenomenon	NOUN
ejpam-799	103	28	of	of	ADP
ejpam-799	103	29	spurious	spurious	ADJ
ejpam-799	103	30	rejections	rejection	NOUN
ejpam-799	103	31	occurs	occur	VERB
ejpam-799	103	32	and	and	CCONJ
ejpam-799	103	33	the	the	DET
ejpam-799	103	34	magnitude	magnitude	NOUN
ejpam-799	103	35	of	of	ADP
ejpam-799	103	36	spurious	spurious	ADJ
ejpam-799	103	37	rejections	rejection	NOUN
ejpam-799	103	38	is	be	AUX
ejpam-799	103	39	identical	identical	ADJ
ejpam-799	103	40	for	for	ADP
ejpam-799	103	41	both	both	PRON
ejpam-799	103	42	z(q	z(q	NOUN
ejpam-799	103	43	)	)	PUNCT
ejpam-799	103	44	and	and	CCONJ
ejpam-799	103	45	z∗(q	z∗(q	PROPN
ejpam-799	103	46	)	)	PUNCT
ejpam-799	103	47	.	.	PUNCT
ejpam-799	104	1	for	for	ADP
ejpam-799	104	2	this	this	DET
ejpam-799	104	3	reason	reason	NOUN
ejpam-799	104	4	,	,	PUNCT
ejpam-799	104	5	the	the	DET
ejpam-799	104	6	results	result	NOUN
ejpam-799	104	7	are	be	AUX
ejpam-799	104	8	not	not	PART
ejpam-799	104	9	reported	report	VERB
ejpam-799	104	10	in	in	ADP
ejpam-799	104	11	this	this	DET
ejpam-799	104	12	paper	paper	NOUN
ejpam-799	104	13	.	.	PUNCT
ejpam-799	105	1	hence	hence	ADV
ejpam-799	105	2	,	,	PUNCT
ejpam-799	105	3	using	use	VERB
ejpam-799	105	4	the	the	DET
ejpam-799	105	5	heteroscedasticity	heteroscedasticity	NOUN
ejpam-799	105	6	-	-	PUNCT
ejpam-799	105	7	robust	robust	ADJ
ejpam-799	105	8	variance	variance	NOUN
ejpam-799	105	9	ratio	ratio	NOUN
ejpam-799	105	10	test	test	NOUN
ejpam-799	105	11	can	can	AUX
ejpam-799	105	12	not	not	PART
ejpam-799	105	13	provide	provide	VERB
ejpam-799	105	14	any	any	DET
ejpam-799	105	15	protection	protection	NOUN
ejpam-799	105	16	against	against	ADP
ejpam-799	105	17	the	the	DET
ejpam-799	105	18	size	size	NOUN
ejpam-799	105	19	distortion	distortion	NOUN
ejpam-799	105	20	problem	problem	NOUN
ejpam-799	105	21	when	when	SCONJ
ejpam-799	105	22	there	there	PRON
ejpam-799	105	23	is	be	VERB
ejpam-799	105	24	a	a	DET
ejpam-799	105	25	break	break	NOUN
ejpam-799	105	26	in	in	ADP
ejpam-799	105	27	drift	drift	NOUN
ejpam-799	105	28	.	.	PUNCT
ejpam-799	106	1	4	4	X
ejpam-799	106	2	.	.	X
ejpam-799	106	3	modified	modify	VERB
ejpam-799	106	4	variance	variance	NOUN
ejpam-799	106	5	ratio	ratio	NOUN
ejpam-799	106	6	tests	test	NOUN
ejpam-799	106	7	in	in	ADP
ejpam-799	106	8	many	many	ADJ
ejpam-799	106	9	applications	application	NOUN
ejpam-799	106	10	,	,	PUNCT
ejpam-799	106	11	it	it	PRON
ejpam-799	106	12	is	be	AUX
ejpam-799	106	13	usually	usually	ADV
ejpam-799	106	14	assumed	assume	VERB
ejpam-799	106	15	that	that	SCONJ
ejpam-799	106	16	structural	structural	ADJ
ejpam-799	106	17	break	break	NOUN
ejpam-799	106	18	points	point	NOUN
ejpam-799	106	19	are	be	AUX
ejpam-799	106	20	known	know	VERB
ejpam-799	106	21	a	a	DET
ejpam-799	106	22	priori	priori	ADV
ejpam-799	106	23	.	.	PUNCT
ejpam-799	107	1	for	for	ADP
ejpam-799	107	2	example	example	NOUN
ejpam-799	107	3	,	,	PUNCT
ejpam-799	107	4	see	see	VERB
ejpam-799	107	5	[	[	X
ejpam-799	107	6	9	9	NUM
ejpam-799	107	7	]	]	PUNCT
ejpam-799	107	8	and	and	CCONJ
ejpam-799	107	9	[	[	X
ejpam-799	107	10	6	6	NUM
ejpam-799	107	11	]	]	PUNCT
ejpam-799	107	12	.	.	PUNCT
ejpam-799	108	1	assuming	assume	VERB
ejpam-799	108	2	that	that	SCONJ
ejpam-799	108	3	the	the	DET
ejpam-799	108	4	break	break	NOUN
ejpam-799	108	5	fraction	fraction	NOUN
ejpam-799	108	6	τ	τ	PROPN
ejpam-799	108	7	is	be	AUX
ejpam-799	108	8	known	know	VERB
ejpam-799	108	9	,	,	PUNCT
ejpam-799	108	10	the	the	DET
ejpam-799	108	11	spurious	spurious	ADJ
ejpam-799	108	12	rejection	rejection	NOUN
ejpam-799	108	13	problem	problem	NOUN
ejpam-799	108	14	described	describe	VERB
ejpam-799	108	15	in	in	ADP
ejpam-799	108	16	the	the	DET
ejpam-799	108	17	previous	previous	ADJ
ejpam-799	108	18	sections	section	NOUN
ejpam-799	108	19	can	can	AUX
ejpam-799	108	20	be	be	AUX
ejpam-799	108	21	fixed	fix	VERB
ejpam-799	108	22	by	by	ADP
ejpam-799	108	23	slightly	slightly	ADV
ejpam-799	108	24	modifying	modify	VERB
ejpam-799	108	25	the	the	DET
ejpam-799	108	26	detrending	detrende	VERB
ejpam-799	108	27	procedure	procedure	NOUN
ejpam-799	108	28	in	in	ADP
ejpam-799	108	29	the	the	DET
ejpam-799	108	30	original	original	ADJ
ejpam-799	108	31	variance	variance	NOUN
ejpam-799	108	32	ratio	ratio	NOUN
ejpam-799	108	33	tests	test	NOUN
ejpam-799	108	34	.	.	PUNCT
ejpam-799	109	1	instead	instead	ADV
ejpam-799	109	2	of	of	ADP
ejpam-799	109	3	demeaning	demean	VERB
ejpam-799	109	4	the	the	DET
ejpam-799	109	5	series	series	NOUN
ejpam-799	109	6	rt	rt	PROPN
ejpam-799	109	7	using	use	VERB
ejpam-799	109	8	the	the	DET
ejpam-799	109	9	whole	whole	ADJ
ejpam-799	109	10	sample	sample	NOUN
ejpam-799	109	11	,	,	PUNCT
ejpam-799	109	12	we	we	PRON
ejpam-799	109	13	demean	demean	VERB
ejpam-799	109	14	rt	rt	PROPN
ejpam-799	109	15	in	in	ADP
ejpam-799	109	16	each	each	PRON
ejpam-799	109	17	of	of	ADP
ejpam-799	109	18	the	the	DET
ejpam-799	109	19	subsamples	subsample	NOUN
ejpam-799	109	20	.	.	PUNCT
ejpam-799	110	1	this	this	PRON
ejpam-799	110	2	can	can	AUX
ejpam-799	110	3	be	be	AUX
ejpam-799	110	4	done	do	VERB
ejpam-799	110	5	by	by	ADP
ejpam-799	110	6	a	a	DET
ejpam-799	110	7	simple	simple	ADJ
ejpam-799	110	8	regression	regression	NOUN
ejpam-799	110	9	.	.	PUNCT
ejpam-799	111	1	we	we	PRON
ejpam-799	111	2	consider	consider	VERB
ejpam-799	111	3	the	the	DET
ejpam-799	111	4	following	follow	VERB
ejpam-799	111	5	regression	regression	NOUN
ejpam-799	111	6	in	in	ADP
ejpam-799	111	7	which	which	PRON
ejpam-799	111	8	we	we	PRON
ejpam-799	111	9	regress	regress	VERB
ejpam-799	111	10	rt	rt	PROPN
ejpam-799	111	11	on	on	ADP
ejpam-799	111	12	a	a	DET
ejpam-799	111	13	constant	constant	ADJ
ejpam-799	111	14	and	and	CCONJ
ejpam-799	111	15	a	a	DET
ejpam-799	111	16	dummy	dummy	ADJ
ejpam-799	111	17	variable	variable	NOUN
ejpam-799	112	1	dt	dt	PROPN
ejpam-799	112	2	defined	define	VERB
ejpam-799	112	3	as	as	ADP
ejpam-799	112	4	dt	dt	PROPN
ejpam-799	112	5	=	=	SYM
ejpam-799	112	6	1[τt	1[τt	PROPN
ejpam-799	112	7	<	<	X
ejpam-799	112	8	t	t	X
ejpam-799	112	9	]	]	X
ejpam-799	112	10	rt	rt	PROPN
ejpam-799	112	11	=	=	PUNCT
ejpam-799	113	1	β̂0	β̂0	X
ejpam-799	113	2	+	+	CCONJ
ejpam-799	113	3	β̂1dt	β̂1dt	PUNCT
ejpam-799	114	1	+	+	CCONJ
ejpam-799	114	2	r̃t	r̃t	INTJ
ejpam-799	114	3	,	,	PUNCT
ejpam-799	114	4	where	where	SCONJ
ejpam-799	114	5	r̃t	r̃t	PROPN
ejpam-799	114	6	is	be	AUX
ejpam-799	114	7	the	the	DET
ejpam-799	114	8	residual	residual	ADJ
ejpam-799	114	9	from	from	ADP
ejpam-799	114	10	the	the	DET
ejpam-799	114	11	above	above	ADJ
ejpam-799	114	12	ls	ls	ADJ
ejpam-799	114	13	regression	regression	NOUN
ejpam-799	114	14	.	.	PUNCT
ejpam-799	115	1	our	our	PRON
ejpam-799	115	2	modified	modified	ADJ
ejpam-799	115	3	variance	variance	NOUN
ejpam-799	115	4	ratio	ratio	NOUN
ejpam-799	115	5	statistic	statistic	NOUN
ejpam-799	115	6	denoted	denote	VERB
ejpam-799	115	7	zm(q	zm(q	NOUN
ejpam-799	115	8	)	)	PUNCT
ejpam-799	115	9	is	be	AUX
ejpam-799	115	10	now	now	ADV
ejpam-799	115	11	calculated	calculate	VERB
ejpam-799	115	12	based	base	VERB
ejpam-799	115	13	on	on	ADP
ejpam-799	115	14	r̃t	r̃t	INTJ
ejpam-799	115	15	as	as	ADP
ejpam-799	115	16	follows†	follows†	ADJ
ejpam-799	115	17	:	:	PUNCT
ejpam-799	115	18	zm(q	zm(q	NUM
ejpam-799	115	19	)	)	PUNCT
ejpam-799	116	1	=	=	SYM
ejpam-799	116	2	t	t	PROPN
ejpam-799	116	3	1/2	1/2	NUM
ejpam-799	116	4	�	�	PROPN
ejpam-799	116	5	2(2q−	2(2q−	NUM
ejpam-799	116	6	1)(q−	1)(q−	NUM
ejpam-799	116	7	1	1	NUM
ejpam-799	116	8	)	)	PUNCT
ejpam-799	116	9	3q	3q	NUM
ejpam-799	116	10	�	�	NOUN
ejpam-799	116	11	−1/2	−1/2	VERB
ejpam-799	116	12	mm	mm	PROPN
ejpam-799	116	13	�	�	PROPN
ejpam-799	116	14	q	q	PROPN
ejpam-799	116	15	�	�	PROPN
ejpam-799	116	16	(	(	PUNCT
ejpam-799	116	17	6	6	NUM
ejpam-799	116	18	)	)	PUNCT
ejpam-799	116	19	where	where	SCONJ
ejpam-799	116	20	mm	mm	PROPN
ejpam-799	116	21	�	�	PROPN
ejpam-799	116	22	q	q	PROPN
ejpam-799	116	23	�	�	PROPN
ejpam-799	116	24	=	=	PUNCT
ejpam-799	116	25	σ̂2	σ̂2	NOUN
ejpam-799	116	26	qm	qm	PROPN
ejpam-799	116	27	σ̂2	σ̂2	PROPN
ejpam-799	116	28	m	m	VERB
ejpam-799	116	29	−	−	PROPN
ejpam-799	116	30	1	1	NUM
ejpam-799	116	31	,	,	PUNCT
ejpam-799	116	32	σ̂2	σ̂2	NOUN
ejpam-799	116	33	m	m	NOUN
ejpam-799	116	34	=	=	SYM
ejpam-799	116	35	1	1	NUM
ejpam-799	116	36	t	t	NOUN
ejpam-799	116	37	−	−	NOUN
ejpam-799	116	38	1	1	NUM
ejpam-799	116	39	t∑	t∑	NOUN
ejpam-799	116	40	t=1	t=1	PROPN
ejpam-799	116	41	r̃2	r̃2	PROPN
ejpam-799	116	42	t	t	PROPN
ejpam-799	116	43	,	,	PUNCT
ejpam-799	116	44	σ̂2	σ̂2	PROPN
ejpam-799	116	45	qm	qm	PROPN
ejpam-799	116	46	=	=	PROPN
ejpam-799	116	47	t	t	PROPN
ejpam-799	116	48	q(t	q(t	PROPN
ejpam-799	116	49	−	−	PROPN
ejpam-799	116	50	q+	q+	ADP
ejpam-799	116	51	1)(t	1)(t	NUM
ejpam-799	116	52	−	−	NOUN
ejpam-799	116	53	q	q	NOUN
ejpam-799	116	54	)	)	PUNCT
ejpam-799	116	55	t∑	t∑	PROPN
ejpam-799	116	56	t	t	PROPN
ejpam-799	117	1	=	=	NOUN
ejpam-799	117	2	q	q	X
ejpam-799	117	3	q−1∑	q−1∑	ADJ
ejpam-799	117	4	i=0	i=0	ADJ
ejpam-799	117	5	r̃t−i	r̃t−i	NOUN
ejpam-799	117	6	!	!	PUNCT
ejpam-799	117	7	2	2	NUM
ejpam-799	117	8	.	.	PUNCT
ejpam-799	118	1	using	use	VERB
ejpam-799	118	2	the	the	DET
ejpam-799	118	3	fact	fact	NOUN
ejpam-799	118	4	that	that	SCONJ
ejpam-799	118	5	β̂0	β̂0	X
ejpam-799	118	6	p	p	X
ejpam-799	118	7	→	→	SYM
ejpam-799	118	8	µ1	µ1	PROPN
ejpam-799	118	9	and	and	CCONJ
ejpam-799	118	10	β̂1	β̂1	PUNCT
ejpam-799	118	11	p	p	X
ejpam-799	118	12	→	→	PUNCT
ejpam-799	118	13	µ2	µ2	PROPN
ejpam-799	118	14	−	−	PROPN
ejpam-799	118	15	µ1	µ1	PROPN
ejpam-799	118	16	,	,	PUNCT
ejpam-799	118	17	it	it	PRON
ejpam-799	118	18	is	be	AUX
ejpam-799	118	19	straightforward	straightforward	ADJ
ejpam-799	118	20	to	to	PART
ejpam-799	118	21	show	show	VERB
ejpam-799	118	22	that	that	SCONJ
ejpam-799	118	23	zm(q	zm(q	NOUN
ejpam-799	118	24	)	)	PUNCT
ejpam-799	118	25	converges	converge	NOUN
ejpam-799	118	26	in	in	ADP
ejpam-799	118	27	distribution	distribution	NOUN
ejpam-799	118	28	to	to	ADP
ejpam-799	118	29	n(0,1	n(0,1	NOUN
ejpam-799	118	30	)	)	PUNCT
ejpam-799	118	31	.	.	PUNCT
ejpam-799	119	1	moreover	moreover	ADV
ejpam-799	119	2	,	,	PUNCT
ejpam-799	119	3	the	the	DET
ejpam-799	119	4	same	same	ADJ
ejpam-799	119	5	modification	modification	NOUN
ejpam-799	119	6	can	can	AUX
ejpam-799	119	7	be	be	AUX
ejpam-799	119	8	used	use	VERB
ejpam-799	119	9	to	to	PART
ejpam-799	119	10	make	make	VERB
ejpam-799	119	11	the	the	DET
ejpam-799	119	12	heteroscedasticity	heteroscedasticity	NOUN
ejpam-799	119	13	-	-	PUNCT
ejpam-799	119	14	robust	robust	ADJ
ejpam-799	119	15	variance	variance	NOUN
ejpam-799	119	16	ratio	ratio	NOUN
ejpam-799	119	17	test	test	NOUN
ejpam-799	119	18	in	in	ADP
ejpam-799	119	19	(	(	PUNCT
ejpam-799	119	20	5	5	NUM
ejpam-799	119	21	)	)	PUNCT
ejpam-799	119	22	robust	robust	ADJ
ejpam-799	119	23	.	.	PUNCT
ejpam-799	120	1	we	we	PRON
ejpam-799	120	2	have	have	AUX
ejpam-799	120	3	repeated	repeat	VERB
ejpam-799	120	4	the	the	DET
ejpam-799	120	5	same	same	ADJ
ejpam-799	120	6	monte	monte	PROPN
ejpam-799	120	7	carlo	carlo	NOUN
ejpam-799	120	8	experiments	experiment	NOUN
ejpam-799	120	9	as	as	SCONJ
ejpam-799	120	10	shown	show	VERB
ejpam-799	120	11	in	in	ADP
ejpam-799	120	12	figure	figure	NOUN
ejpam-799	120	13	2	2	NUM
ejpam-799	120	14	,	,	PUNCT
ejpam-799	120	15	but	but	CCONJ
ejpam-799	120	16	replacing	replace	VERB
ejpam-799	120	17	z(q	z(q	NOUN
ejpam-799	120	18	)	)	PUNCT
ejpam-799	120	19	with	with	ADP
ejpam-799	120	20	the	the	DET
ejpam-799	120	21	new	new	ADJ
ejpam-799	120	22	test	test	NOUN
ejpam-799	120	23	zm(q	zm(q	NUM
ejpam-799	120	24	)	)	PUNCT
ejpam-799	120	25	.	.	PUNCT
ejpam-799	121	1	the	the	DET
ejpam-799	121	2	results	result	NOUN
ejpam-799	121	3	are	be	AUX
ejpam-799	121	4	displayed	display	VERB
ejpam-799	121	5	in	in	ADP
ejpam-799	121	6	figure	figure	NOUN
ejpam-799	121	7	3	3	NUM
ejpam-799	121	8	for	for	ADP
ejpam-799	121	9	the	the	DET
ejpam-799	121	10	specified	specified	ADJ
ejpam-799	121	11	values	value	NOUN
ejpam-799	121	12	of	of	ADP
ejpam-799	121	13	t	t	PROPN
ejpam-799	121	14	and	and	CCONJ
ejpam-799	121	15	q	q	NOUN
ejpam-799	121	16	,	,	PUNCT
ejpam-799	121	17	and	and	CCONJ
ejpam-799	121	18	it	it	PRON
ejpam-799	121	19	is	be	AUX
ejpam-799	121	20	clearly	clearly	ADV
ejpam-799	121	21	demonstrated	demonstrate	VERB
ejpam-799	121	22	that	that	SCONJ
ejpam-799	121	23	the	the	DET
ejpam-799	121	24	spurious	spurious	ADJ
ejpam-799	121	25	rejection	rejection	NOUN
ejpam-799	121	26	phenomenon	phenomenon	NOUN
ejpam-799	121	27	has	have	AUX
ejpam-799	121	28	now	now	ADV
ejpam-799	121	29	disappeared	disappear	VERB
ejpam-799	121	30	.	.	PUNCT
ejpam-799	122	1	we	we	PRON
ejpam-799	122	2	note	note	VERB
ejpam-799	122	3	that	that	SCONJ
ejpam-799	122	4	our	our	PRON
ejpam-799	122	5	regression	regression	NOUN
ejpam-799	122	6	-	-	PUNCT
ejpam-799	122	7	based	base	VERB
ejpam-799	122	8	procedure	procedure	NOUN
ejpam-799	122	9	can	can	AUX
ejpam-799	122	10	easily	easily	ADV
ejpam-799	122	11	be	be	AUX
ejpam-799	122	12	extended	extend	VERB
ejpam-799	122	13	to	to	ADP
ejpam-799	122	14	a	a	DET
ejpam-799	122	15	situation	situation	NOUN
ejpam-799	122	16	in	in	ADP
ejpam-799	122	17	which	which	PRON
ejpam-799	122	18	there	there	PRON
ejpam-799	122	19	are	be	VERB
ejpam-799	122	20	multiple	multiple	ADJ
ejpam-799	122	21	breaks	break	NOUN
ejpam-799	122	22	as	as	ADV
ejpam-799	122	23	long	long	ADV
ejpam-799	122	24	as	as	SCONJ
ejpam-799	122	25	the	the	DET
ejpam-799	122	26	break	break	NOUN
ejpam-799	122	27	points	point	NOUN
ejpam-799	122	28	are	be	AUX
ejpam-799	122	29	assumed	assume	VERB
ejpam-799	122	30	to	to	PART
ejpam-799	122	31	be	be	AUX
ejpam-799	122	32	known	know	VERB
ejpam-799	122	33	.	.	PUNCT
ejpam-799	123	1	for	for	ADP
ejpam-799	123	2	example	example	NOUN
ejpam-799	123	3	,	,	PUNCT
ejpam-799	123	4	†the	†the	DET
ejpam-799	123	5	subscript	subscript	NOUN
ejpam-799	123	6	m	m	VERB
ejpam-799	123	7	indicates	indicate	VERB
ejpam-799	123	8	that	that	SCONJ
ejpam-799	123	9	the	the	DET
ejpam-799	123	10	test	test	NOUN
ejpam-799	123	11	is	be	AUX
ejpam-799	123	12	a	a	DET
ejpam-799	123	13	modified	modify	VERB
ejpam-799	123	14	version	version	NOUN
ejpam-799	123	15	of	of	ADP
ejpam-799	123	16	the	the	DET
ejpam-799	123	17	corresponding	corresponding	ADJ
ejpam-799	123	18	variance	variance	NOUN
ejpam-799	123	19	-	-	PUNCT
ejpam-799	123	20	ratio	ratio	NOUN
ejpam-799	123	21	test	test	NOUN
ejpam-799	123	22	.	.	PUNCT
ejpam-799	124	1	y.	y.	PROPN
ejpam-799	124	2	kim	kim	PROPN
ejpam-799	124	3	and	and	CCONJ
ejpam-799	124	4	t.	t.	PROPN
ejpam-799	124	5	kim	kim	PROPN
ejpam-799	124	6	/	/	SYM
ejpam-799	124	7	eur	eur	PROPN
ejpam-799	124	8	.	.	PUNCT
ejpam-799	125	1	j.	j.	PROPN
ejpam-799	125	2	pure	pure	PROPN
ejpam-799	125	3	appl	appl	PROPN
ejpam-799	125	4	.	.	PROPN
ejpam-799	125	5	math	math	PROPN
ejpam-799	125	6	,	,	PUNCT
ejpam-799	125	7	3	3	NUM
ejpam-799	125	8	(	(	PUNCT
ejpam-799	125	9	2010	2010	NUM
ejpam-799	125	10	)	)	PUNCT
ejpam-799	125	11	,	,	PUNCT
ejpam-799	125	12	502	502	NUM
ejpam-799	125	13	-	-	SYM
ejpam-799	125	14	518	518	NUM
ejpam-799	125	15	508	508	NUM
ejpam-799	125	16	suppose	suppose	VERB
ejpam-799	125	17	that	that	SCONJ
ejpam-799	125	18	there	there	PRON
ejpam-799	125	19	are	be	VERB
ejpam-799	125	20	three	three	NUM
ejpam-799	125	21	break	break	NOUN
ejpam-799	125	22	points	point	NOUN
ejpam-799	125	23	denoted	denote	VERB
ejpam-799	125	24	τ1,τ2	τ1,τ2	PROPN
ejpam-799	125	25	and	and	CCONJ
ejpam-799	125	26	τ3	τ3	NOUN
ejpam-799	125	27	.	.	PUNCT
ejpam-799	126	1	in	in	ADP
ejpam-799	126	2	this	this	DET
ejpam-799	126	3	case	case	NOUN
ejpam-799	126	4	,	,	PUNCT
ejpam-799	126	5	we	we	PRON
ejpam-799	126	6	run	run	VERB
ejpam-799	126	7	the	the	DET
ejpam-799	126	8	following	follow	VERB
ejpam-799	126	9	regression	regression	NOUN
ejpam-799	126	10	:	:	PUNCT
ejpam-799	126	11	rt	rt	PROPN
ejpam-799	126	12	=	=	PUNCT
ejpam-799	126	13	β̂0	β̂0	X
ejpam-799	127	1	+	+	CCONJ
ejpam-799	127	2	β̂1d1	β̂1d1	NOUN
ejpam-799	127	3	t	t	NOUN
ejpam-799	128	1	+	+	CCONJ
ejpam-799	128	2	β̂2d2	β̂2d2	PROPN
ejpam-799	128	3	t	t	PROPN
ejpam-799	128	4	+	+	NUM
ejpam-799	128	5	β̂3d3	β̂3d3	PROPN
ejpam-799	128	6	t	t	NOUN
ejpam-799	129	1	+	+	X
ejpam-799	129	2	r̃t	r̃t	PROPN
ejpam-799	129	3	(	(	PUNCT
ejpam-799	129	4	7	7	NUM
ejpam-799	129	5	)	)	PUNCT
ejpam-799	129	6	where	where	SCONJ
ejpam-799	129	7	d1	d1	PROPN
ejpam-799	129	8	t	t	NOUN
ejpam-799	129	9	=	=	SYM
ejpam-799	129	10	1	1	NUM
ejpam-799	129	11	�	�	PROPN
ejpam-799	129	12	τ1	τ1	PROPN
ejpam-799	129	13	t	t	PROPN
ejpam-799	130	1	<	<	X
ejpam-799	130	2	t	t	X
ejpam-799	130	3	≤	≤	PROPN
ejpam-799	130	4	τ2	τ2	PROPN
ejpam-799	130	5	t	t	PROPN
ejpam-799	130	6	−	−	NUM
ejpam-799	130	7	1	1	NUM
ejpam-799	130	8	�	�	PROPN
ejpam-799	130	9	,	,	PUNCT
ejpam-799	130	10	d2	d2	PROPN
ejpam-799	130	11	t	t	NOUN
ejpam-799	130	12	=	=	SYM
ejpam-799	130	13	1	1	NUM
ejpam-799	130	14	�	�	PROPN
ejpam-799	130	15	τ2	τ2	PROPN
ejpam-799	130	16	t	t	PROPN
ejpam-799	130	17	<	<	X
ejpam-799	130	18	t	t	PROPN
ejpam-799	130	19	≤	≤	NUM
ejpam-799	130	20	τ3	τ3	PROPN
ejpam-799	130	21	t	t	PROPN
ejpam-799	130	22	−	−	PROPN
ejpam-799	130	23	1	1	NUM
ejpam-799	130	24	�	�	PROPN
ejpam-799	130	25	and	and	CCONJ
ejpam-799	130	26	d3	d3	PROPN
ejpam-799	130	27	t	t	PROPN
ejpam-799	130	28	=	=	SYM
ejpam-799	130	29	1	1	NUM
ejpam-799	130	30	�	�	PROPN
ejpam-799	130	31	τ3	τ3	PROPN
ejpam-799	130	32	t	t	PROPN
ejpam-799	130	33	<	<	X
ejpam-799	130	34	t	t	PROPN
ejpam-799	130	35	�	�	PROPN
ejpam-799	130	36	.	.	PUNCT
ejpam-799	131	1	the	the	DET
ejpam-799	131	2	correctly	correctly	ADV
ejpam-799	131	3	modified	modify	VERB
ejpam-799	131	4	variance	variance	NOUN
ejpam-799	131	5	ratio	ratio	NOUN
ejpam-799	131	6	test	test	NOUN
ejpam-799	131	7	is	be	AUX
ejpam-799	131	8	now	now	ADV
ejpam-799	131	9	obtained	obtain	VERB
ejpam-799	131	10	using	use	VERB
ejpam-799	131	11	the	the	DET
ejpam-799	131	12	new	new	ADJ
ejpam-799	131	13	residual	residual	NOUN
ejpam-799	131	14	r̃t	r̃t	VERB
ejpam-799	131	15	from	from	ADP
ejpam-799	131	16	the	the	DET
ejpam-799	131	17	above	above	ADJ
ejpam-799	131	18	regression	regression	NOUN
ejpam-799	131	19	(	(	PUNCT
ejpam-799	131	20	7	7	NUM
ejpam-799	131	21	)	)	PUNCT
ejpam-799	131	22	in	in	ADP
ejpam-799	131	23	the	the	DET
ejpam-799	131	24	formula	formula	NOUN
ejpam-799	131	25	in	in	ADP
ejpam-799	131	26	(	(	PUNCT
ejpam-799	131	27	6	6	NUM
ejpam-799	131	28	)	)	PUNCT
ejpam-799	131	29	.	.	PUNCT
ejpam-799	132	1	5	5	X
ejpam-799	132	2	.	.	X
ejpam-799	132	3	an	an	DET
ejpam-799	132	4	empirical	empirical	ADJ
ejpam-799	132	5	example	example	NOUN
ejpam-799	132	6	the	the	DET
ejpam-799	132	7	random	random	ADJ
ejpam-799	132	8	walk	walk	NOUN
ejpam-799	132	9	process	process	NOUN
ejpam-799	132	10	in	in	ADP
ejpam-799	132	11	(	(	PUNCT
ejpam-799	132	12	1	1	NUM
ejpam-799	132	13	)	)	PUNCT
ejpam-799	132	14	and	and	CCONJ
ejpam-799	132	15	(	(	PUNCT
ejpam-799	132	16	2	2	X
ejpam-799	132	17	)	)	PUNCT
ejpam-799	132	18	exhibits	exhibit	NOUN
ejpam-799	132	19	,	,	PUNCT
ejpam-799	132	20	under	under	ADP
ejpam-799	132	21	our	our	PRON
ejpam-799	132	22	investigation	investigation	NOUN
ejpam-799	132	23	,	,	PUNCT
ejpam-799	132	24	a	a	DET
ejpam-799	132	25	deterministic	deterministic	ADJ
ejpam-799	132	26	break	break	NOUN
ejpam-799	132	27	in	in	ADP
ejpam-799	132	28	its	its	PRON
ejpam-799	132	29	drift	drift	NOUN
ejpam-799	132	30	term	term	NOUN
ejpam-799	132	31	:	:	PUNCT
ejpam-799	132	32	for	for	ADP
ejpam-799	132	33	instance	instance	NOUN
ejpam-799	132	34	,	,	PUNCT
ejpam-799	132	35	from	from	ADP
ejpam-799	132	36	positive	positive	ADJ
ejpam-799	132	37	to	to	ADP
ejpam-799	132	38	negative	negative	ADJ
ejpam-799	132	39	or	or	CCONJ
ejpam-799	132	40	vice	vice	NOUN
ejpam-799	132	41	versa	versa	ADV
ejpam-799	132	42	.	.	PUNCT
ejpam-799	133	1	if	if	SCONJ
ejpam-799	133	2	the	the	DET
ejpam-799	133	3	drift	drift	NOUN
ejpam-799	133	4	term	term	NOUN
ejpam-799	133	5	changes	change	VERB
ejpam-799	133	6	its	its	PRON
ejpam-799	133	7	sign	sign	NOUN
ejpam-799	133	8	from	from	ADP
ejpam-799	133	9	positive	positive	ADJ
ejpam-799	133	10	to	to	PART
ejpam-799	133	11	negative	negative	VERB
ejpam-799	133	12	,	,	PUNCT
ejpam-799	133	13	then	then	ADV
ejpam-799	133	14	this	this	DET
ejpam-799	133	15	set	set	NOUN
ejpam-799	133	16	-	-	PUNCT
ejpam-799	133	17	up	up	NOUN
ejpam-799	133	18	can	can	AUX
ejpam-799	133	19	be	be	AUX
ejpam-799	133	20	a	a	DET
ejpam-799	133	21	plausible	plausible	ADJ
ejpam-799	133	22	model	model	NOUN
ejpam-799	133	23	for	for	ADP
ejpam-799	133	24	a	a	DET
ejpam-799	133	25	time	time	NOUN
ejpam-799	133	26	series	series	NOUN
ejpam-799	133	27	on	on	ADP
ejpam-799	133	28	exchange	exchange	NOUN
ejpam-799	133	29	rates	rate	NOUN
ejpam-799	133	30	which	which	PRON
ejpam-799	133	31	display	display	VERB
ejpam-799	133	32	a	a	DET
ejpam-799	133	33	persistent	persistent	ADJ
ejpam-799	133	34	currency	currency	NOUN
ejpam-799	133	35	appreciation	appreciation	NOUN
ejpam-799	133	36	period	period	NOUN
ejpam-799	133	37	followed	follow	VERB
ejpam-799	133	38	by	by	ADP
ejpam-799	133	39	a	a	DET
ejpam-799	133	40	long	long	ADJ
ejpam-799	133	41	depreciation	depreciation	NOUN
ejpam-799	133	42	era	era	NOUN
ejpam-799	133	43	.	.	PUNCT
ejpam-799	134	1	likewise	likewise	ADV
ejpam-799	134	2	,	,	PUNCT
ejpam-799	134	3	the	the	DET
ejpam-799	134	4	reverse	reverse	ADJ
ejpam-799	134	5	case	case	NOUN
ejpam-799	134	6	of	of	ADP
ejpam-799	134	7	changing	change	VERB
ejpam-799	134	8	from	from	ADP
ejpam-799	134	9	negative	negative	ADJ
ejpam-799	134	10	to	to	ADP
ejpam-799	134	11	positive	positive	ADJ
ejpam-799	134	12	can	can	AUX
ejpam-799	134	13	correspond	correspond	VERB
ejpam-799	134	14	to	to	ADP
ejpam-799	134	15	when	when	SCONJ
ejpam-799	134	16	the	the	DET
ejpam-799	134	17	exchange	exchange	NOUN
ejpam-799	134	18	rates	rate	NOUN
ejpam-799	134	19	exhibit	exhibit	VERB
ejpam-799	134	20	the	the	DET
ejpam-799	134	21	opposite	opposite	ADJ
ejpam-799	134	22	dynamics	dynamic	NOUN
ejpam-799	134	23	.	.	PUNCT
ejpam-799	135	1	in	in	ADP
ejpam-799	135	2	this	this	DET
ejpam-799	135	3	section	section	NOUN
ejpam-799	135	4	,	,	PUNCT
ejpam-799	135	5	we	we	PRON
ejpam-799	135	6	apply	apply	VERB
ejpam-799	135	7	our	our	PRON
ejpam-799	135	8	modified	modified	ADJ
ejpam-799	135	9	variance	variance	NOUN
ejpam-799	135	10	ratio	ratio	NOUN
ejpam-799	135	11	testing	testing	NOUN
ejpam-799	135	12	procedure	procedure	NOUN
ejpam-799	135	13	to	to	PART
ejpam-799	135	14	revisit	revisit	VERB
ejpam-799	135	15	the	the	DET
ejpam-799	135	16	random	random	ADJ
ejpam-799	135	17	walk	walk	NOUN
ejpam-799	135	18	hypothesis	hypothesis	NOUN
ejpam-799	135	19	for	for	ADP
ejpam-799	135	20	exchange	exchange	NOUN
ejpam-799	135	21	rates	rate	NOUN
ejpam-799	135	22	.	.	PUNCT
ejpam-799	136	1	since	since	SCONJ
ejpam-799	136	2	many	many	ADJ
ejpam-799	136	3	countries	country	NOUN
ejpam-799	136	4	shifted	shift	VERB
ejpam-799	136	5	to	to	ADP
ejpam-799	136	6	a	a	DET
ejpam-799	136	7	floating	float	VERB
ejpam-799	136	8	exchange	exchange	NOUN
ejpam-799	136	9	rate	rate	NOUN
ejpam-799	136	10	system	system	NOUN
ejpam-799	136	11	during	during	ADP
ejpam-799	136	12	the	the	DET
ejpam-799	136	13	period	period	NOUN
ejpam-799	136	14	from	from	ADP
ejpam-799	136	15	1970	1970	NUM
ejpam-799	136	16	to	to	ADP
ejpam-799	136	17	1973	1973	NUM
ejpam-799	136	18	,	,	PUNCT
ejpam-799	136	19	our	our	PRON
ejpam-799	136	20	data	datum	NOUN
ejpam-799	136	21	set	set	VERB
ejpam-799	136	22	starts	start	VERB
ejpam-799	136	23	on	on	ADP
ejpam-799	136	24	january	january	PROPN
ejpam-799	136	25	2	2	NUM
ejpam-799	136	26	,	,	PUNCT
ejpam-799	136	27	1974	1974	NUM
ejpam-799	136	28	.	.	PUNCT
ejpam-799	137	1	we	we	PRON
ejpam-799	137	2	use	use	VERB
ejpam-799	137	3	weekly	weekly	ADJ
ejpam-799	137	4	exchange	exchange	NOUN
ejpam-799	137	5	rates	rate	NOUN
ejpam-799	137	6	for	for	ADP
ejpam-799	137	7	the	the	DET
ejpam-799	137	8	following	follow	VERB
ejpam-799	137	9	four	four	NUM
ejpam-799	137	10	currencies	currency	NOUN
ejpam-799	137	11	against	against	ADP
ejpam-799	137	12	the	the	DET
ejpam-799	137	13	u.s	u.s	PROPN
ejpam-799	137	14	.	.	PROPN
ejpam-799	137	15	dollar	dollar	NOUN
ejpam-799	137	16	:	:	PUNCT
ejpam-799	137	17	canadian	canadian	ADJ
ejpam-799	137	18	dollar	dollar	NOUN
ejpam-799	137	19	(	(	PUNCT
ejpam-799	137	20	can	can	AUX
ejpam-799	137	21	)	)	PUNCT
ejpam-799	137	22	,	,	PUNCT
ejpam-799	137	23	german	german	ADJ
ejpam-799	137	24	mark	mark	NOUN
ejpam-799	137	25	(	(	PUNCT
ejpam-799	137	26	dm	dm	PROPN
ejpam-799	137	27	)	)	PUNCT
ejpam-799	137	28	,	,	PUNCT
ejpam-799	137	29	italian	italian	ADJ
ejpam-799	137	30	lira	lira	NOUN
ejpam-799	137	31	(	(	PUNCT
ejpam-799	137	32	itl	itl	PROPN
ejpam-799	137	33	)	)	PUNCT
ejpam-799	137	34	,	,	PUNCT
ejpam-799	137	35	and	and	CCONJ
ejpam-799	137	36	swiss	swiss	ADJ
ejpam-799	137	37	franc	franc	NOUN
ejpam-799	137	38	(	(	PUNCT
ejpam-799	137	39	szf	szf	NOUN
ejpam-799	137	40	)	)	PUNCT
ejpam-799	137	41	.	.	PUNCT
ejpam-799	138	1	the	the	DET
ejpam-799	138	2	reasons	reason	NOUN
ejpam-799	138	3	for	for	ADP
ejpam-799	138	4	using	use	VERB
ejpam-799	138	5	exchange	exchange	NOUN
ejpam-799	138	6	rates	rate	NOUN
ejpam-799	138	7	from	from	ADP
ejpam-799	138	8	these	these	DET
ejpam-799	138	9	four	four	NUM
ejpam-799	138	10	countries	country	NOUN
ejpam-799	138	11	are	be	AUX
ejpam-799	138	12	that	that	PRON
ejpam-799	138	13	(	(	PUNCT
ejpam-799	138	14	i	i	NOUN
ejpam-799	138	15	)	)	PUNCT
ejpam-799	138	16	the	the	DET
ejpam-799	138	17	preliminary	preliminary	ADJ
ejpam-799	138	18	application	application	NOUN
ejpam-799	138	19	of	of	ADP
ejpam-799	138	20	the	the	DET
ejpam-799	138	21	standardized	standardized	ADJ
ejpam-799	138	22	heteroscedasticity	heteroscedasticity	NOUN
ejpam-799	138	23	-	-	PUNCT
ejpam-799	138	24	robust	robust	ADJ
ejpam-799	138	25	variance	variance	NOUN
ejpam-799	138	26	ratio	ratio	NOUN
ejpam-799	138	27	test	test	NOUN
ejpam-799	138	28	z∗(q	z∗(q	PROPN
ejpam-799	138	29	)	)	PUNCT
ejpam-799	138	30	indicates	indicate	VERB
ejpam-799	138	31	that	that	SCONJ
ejpam-799	138	32	the	the	DET
ejpam-799	138	33	random	random	ADJ
ejpam-799	138	34	walk	walk	NOUN
ejpam-799	138	35	hypothesis	hypothesis	NOUN
ejpam-799	138	36	is	be	AUX
ejpam-799	138	37	rejected	reject	VERB
ejpam-799	138	38	for	for	ADP
ejpam-799	138	39	exchange	exchange	NOUN
ejpam-799	138	40	rates	rate	NOUN
ejpam-799	138	41	for	for	ADP
ejpam-799	138	42	these	these	DET
ejpam-799	138	43	countries	country	NOUN
ejpam-799	138	44	and	and	CCONJ
ejpam-799	138	45	(	(	PUNCT
ejpam-799	138	46	ii	ii	NOUN
ejpam-799	138	47	)	)	PUNCT
ejpam-799	138	48	the	the	DET
ejpam-799	138	49	exchange	exchange	NOUN
ejpam-799	138	50	rate	rate	NOUN
ejpam-799	138	51	data	datum	NOUN
ejpam-799	138	52	from	from	ADP
ejpam-799	138	53	these	these	DET
ejpam-799	138	54	countries	country	NOUN
ejpam-799	138	55	clearly	clearly	ADV
ejpam-799	138	56	show	show	VERB
ejpam-799	138	57	that	that	SCONJ
ejpam-799	138	58	there	there	PRON
ejpam-799	138	59	are	be	VERB
ejpam-799	138	60	three	three	NUM
ejpam-799	138	61	distinctive	distinctive	ADJ
ejpam-799	138	62	structural	structural	ADJ
ejpam-799	138	63	breaks	break	NOUN
ejpam-799	138	64	as	as	SCONJ
ejpam-799	138	65	displayed	display	VERB
ejpam-799	138	66	in	in	ADP
ejpam-799	138	67	figure	figure	NOUN
ejpam-799	138	68	4	4	NUM
ejpam-799	138	69	.	.	PUNCT
ejpam-799	139	1	exchange	exchange	NOUN
ejpam-799	139	2	rates	rate	NOUN
ejpam-799	139	3	for	for	ADP
ejpam-799	139	4	the	the	DET
ejpam-799	139	5	canadian	canadian	ADJ
ejpam-799	139	6	dollar	dollar	NOUN
ejpam-799	139	7	and	and	CCONJ
ejpam-799	139	8	the	the	DET
ejpam-799	139	9	swiss	swiss	ADJ
ejpam-799	139	10	franc	franc	NOUN
ejpam-799	139	11	against	against	ADP
ejpam-799	139	12	the	the	DET
ejpam-799	139	13	u.s	u.s	PROPN
ejpam-799	139	14	.	.	PROPN
ejpam-799	139	15	dollar	dollar	NOUN
ejpam-799	139	16	end	end	VERB
ejpam-799	139	17	on	on	ADP
ejpam-799	139	18	october	october	PROPN
ejpam-799	139	19	15	15	NUM
ejpam-799	139	20	,	,	PUNCT
ejpam-799	139	21	2003	2003	NUM
ejpam-799	139	22	.	.	PUNCT
ejpam-799	140	1	due	due	ADP
ejpam-799	140	2	to	to	ADP
ejpam-799	140	3	the	the	DET
ejpam-799	140	4	introduction	introduction	NOUN
ejpam-799	140	5	of	of	ADP
ejpam-799	140	6	the	the	DET
ejpam-799	140	7	euro	euro	NOUN
ejpam-799	140	8	on	on	ADP
ejpam-799	140	9	january	january	PROPN
ejpam-799	140	10	1	1	NUM
ejpam-799	140	11	,	,	PUNCT
ejpam-799	140	12	1999	1999	NUM
ejpam-799	140	13	,	,	PUNCT
ejpam-799	140	14	data	datum	NOUN
ejpam-799	140	15	only	only	ADV
ejpam-799	140	16	extends	extend	VERB
ejpam-799	140	17	to	to	ADP
ejpam-799	140	18	december	december	PROPN
ejpam-799	140	19	30	30	NUM
ejpam-799	140	20	,	,	PUNCT
ejpam-799	140	21	1998	1998	NUM
ejpam-799	140	22	for	for	ADP
ejpam-799	140	23	the	the	DET
ejpam-799	140	24	german	german	ADJ
ejpam-799	140	25	mark	mark	NOUN
ejpam-799	140	26	and	and	CCONJ
ejpam-799	140	27	the	the	DET
ejpam-799	140	28	italian	italian	ADJ
ejpam-799	140	29	lira	lira	NOUN
ejpam-799	140	30	.	.	PUNCT
ejpam-799	141	1	exchange	exchange	NOUN
ejpam-799	141	2	rates	rate	NOUN
ejpam-799	141	3	used	use	VERB
ejpam-799	141	4	in	in	ADP
ejpam-799	141	5	our	our	PRON
ejpam-799	141	6	study	study	NOUN
ejpam-799	141	7	are	be	AUX
ejpam-799	141	8	the	the	DET
ejpam-799	141	9	noon	noon	NOUN
ejpam-799	141	10	buying	buying	NOUN
ejpam-799	141	11	rates	rate	NOUN
ejpam-799	141	12	in	in	ADP
ejpam-799	141	13	new	new	PROPN
ejpam-799	141	14	york	york	PROPN
ejpam-799	141	15	for	for	ADP
ejpam-799	141	16	cable	cable	NOUN
ejpam-799	141	17	transfers	transfer	NOUN
ejpam-799	141	18	payable	payable	ADJ
ejpam-799	141	19	in	in	ADP
ejpam-799	141	20	foreign	foreign	ADJ
ejpam-799	141	21	currencies	currency	NOUN
ejpam-799	141	22	.	.	PUNCT
ejpam-799	142	1	all	all	DET
ejpam-799	142	2	exchange	exchange	NOUN
ejpam-799	142	3	rates	rate	NOUN
ejpam-799	142	4	are	be	AUX
ejpam-799	142	5	measured	measure	VERB
ejpam-799	142	6	by	by	ADP
ejpam-799	142	7	unit	unit	NOUN
ejpam-799	142	8	of	of	ADP
ejpam-799	142	9	foreign	foreign	ADJ
ejpam-799	142	10	currency	currency	NOUN
ejpam-799	142	11	per	per	ADP
ejpam-799	142	12	u.s	u.s	PROPN
ejpam-799	142	13	.	.	PROPN
ejpam-799	142	14	dollar	dollar	NOUN
ejpam-799	142	15	and	and	CCONJ
ejpam-799	142	16	can	can	AUX
ejpam-799	142	17	be	be	AUX
ejpam-799	142	18	downloaded	download	VERB
ejpam-799	142	19	from	from	ADP
ejpam-799	142	20	the	the	DET
ejpam-799	142	21	federal	federal	PROPN
ejpam-799	142	22	reserve	reserve	PROPN
ejpam-799	142	23	board	board	PROPN
ejpam-799	142	24	’s	’s	PART
ejpam-799	142	25	website	website	NOUN
ejpam-799	142	26	(	(	PUNCT
ejpam-799	142	27	http://www.federalreserve.gov/releases/h10/hist	http://www.federalreserve.gov/releases/h10/hist	PROPN
ejpam-799	142	28	)	)	PUNCT
ejpam-799	142	29	.	.	PUNCT
ejpam-799	143	1	we	we	PRON
ejpam-799	143	2	denote	denote	VERB
ejpam-799	143	3	by	by	ADP
ejpam-799	143	4	st	st	PROPN
ejpam-799	143	5	wednesday	wednesday	PROPN
ejpam-799	143	6	’s	’s	PART
ejpam-799	143	7	exchange	exchange	NOUN
ejpam-799	143	8	rates	rate	NOUN
ejpam-799	143	9	and	and	CCONJ
ejpam-799	143	10	the	the	DET
ejpam-799	143	11	corresponding	corresponding	ADJ
ejpam-799	143	12	weekly	weekly	ADJ
ejpam-799	143	13	returns	return	NOUN
ejpam-799	143	14	rt	rt	PROPN
ejpam-799	143	15	are	be	AUX
ejpam-799	143	16	calculated	calculate	VERB
ejpam-799	143	17	through	through	ADP
ejpam-799	143	18	rt	rt	PROPN
ejpam-799	143	19	=	=	PUNCT
ejpam-799	143	20	lnst	lnst	PROPN
ejpam-799	143	21	−	−	PROPN
ejpam-799	144	1	ln	ln	ADJ
ejpam-799	144	2	st−1	st−1	PROPN
ejpam-799	144	3	.	.	PUNCT
ejpam-799	145	1	if	if	SCONJ
ejpam-799	145	2	wednesday	wednesday	PROPN
ejpam-799	145	3	’s	’s	PART
ejpam-799	145	4	exchange	exchange	NOUN
ejpam-799	145	5	rate	rate	NOUN
ejpam-799	145	6	is	be	AUX
ejpam-799	145	7	missing	miss	VERB
ejpam-799	145	8	due	due	ADP
ejpam-799	145	9	to	to	ADP
ejpam-799	145	10	a	a	DET
ejpam-799	145	11	holiday	holiday	NOUN
ejpam-799	145	12	,	,	PUNCT
ejpam-799	145	13	thursday	thursday	PROPN
ejpam-799	145	14	’s	’s	PART
ejpam-799	145	15	exchange	exchange	NOUN
ejpam-799	145	16	rate	rate	NOUN
ejpam-799	145	17	(	(	PUNCT
ejpam-799	145	18	or	or	CCONJ
ejpam-799	145	19	tuesday	tuesday	PROPN
ejpam-799	145	20	’s	’s	PART
ejpam-799	145	21	if	if	SCONJ
ejpam-799	145	22	thursday	thursday	PROPN
ejpam-799	145	23	’s	’s	PART
ejpam-799	145	24	is	be	AUX
ejpam-799	145	25	missing	miss	VERB
ejpam-799	145	26	)	)	PUNCT
ejpam-799	145	27	is	be	AUX
ejpam-799	145	28	used	use	VERB
ejpam-799	145	29	because	because	SCONJ
ejpam-799	145	30	holidays	holiday	NOUN
ejpam-799	145	31	occur	occur	VERB
ejpam-799	145	32	least	least	ADV
ejpam-799	145	33	often	often	ADV
ejpam-799	145	34	on	on	ADP
ejpam-799	145	35	wednesdays	wednesday	NOUN
ejpam-799	145	36	and	and	CCONJ
ejpam-799	145	37	thursdays	thursday	NOUN
ejpam-799	145	38	.	.	PUNCT
ejpam-799	146	1	there	there	PRON
ejpam-799	146	2	are	be	VERB
ejpam-799	146	3	1555	1555	NUM
ejpam-799	146	4	weekly	weekly	ADJ
ejpam-799	146	5	observations	observation	NOUN
ejpam-799	146	6	of	of	ADP
ejpam-799	146	7	exchange	exchange	NOUN
ejpam-799	146	8	rates	rate	NOUN
ejpam-799	146	9	for	for	ADP
ejpam-799	146	10	the	the	DET
ejpam-799	146	11	canadian	canadian	ADJ
ejpam-799	146	12	dollar	dollar	NOUN
ejpam-799	146	13	and	and	CCONJ
ejpam-799	146	14	the	the	DET
ejpam-799	146	15	swiss	swiss	ADJ
ejpam-799	146	16	franc	franc	NOUN
ejpam-799	146	17	and	and	CCONJ
ejpam-799	146	18	1304	1304	NUM
ejpam-799	146	19	of	of	ADP
ejpam-799	146	20	exchange	exchange	NOUN
ejpam-799	146	21	rates	rate	NOUN
ejpam-799	146	22	for	for	ADP
ejpam-799	146	23	the	the	DET
ejpam-799	146	24	german	german	ADJ
ejpam-799	146	25	mark	mark	NOUN
ejpam-799	146	26	and	and	CCONJ
ejpam-799	146	27	the	the	DET
ejpam-799	146	28	italian	italian	ADJ
ejpam-799	146	29	lira	lira	PROPN
ejpam-799	146	30	.	.	PUNCT
ejpam-799	147	1	figure	figure	NOUN
ejpam-799	147	2	4	4	NUM
ejpam-799	147	3	provides	provide	VERB
ejpam-799	147	4	time	time	NOUN
ejpam-799	147	5	series	series	NOUN
ejpam-799	147	6	plots	plot	NOUN
ejpam-799	147	7	of	of	ADP
ejpam-799	147	8	the	the	DET
ejpam-799	147	9	weekly	weekly	ADJ
ejpam-799	147	10	exchange	exchange	NOUN
ejpam-799	147	11	rates	rate	NOUN
ejpam-799	147	12	for	for	ADP
ejpam-799	147	13	the	the	DET
ejpam-799	147	14	currencies	currency	NOUN
ejpam-799	147	15	of	of	ADP
ejpam-799	147	16	the	the	DET
ejpam-799	147	17	four	four	NUM
ejpam-799	147	18	countries	country	NOUN
ejpam-799	147	19	against	against	ADP
ejpam-799	147	20	the	the	DET
ejpam-799	147	21	u.s	u.s	PROPN
ejpam-799	147	22	.	.	PROPN
ejpam-799	147	23	dollar	dollar	NOUN
ejpam-799	147	24	during	during	ADP
ejpam-799	147	25	the	the	DET
ejpam-799	147	26	post	post	ADJ
ejpam-799	147	27	-	-	ADJ
ejpam-799	147	28	bretton	bretton	ADJ
ejpam-799	147	29	-	-	PUNCT
ejpam-799	147	30	woods	wood	NOUN
ejpam-799	147	31	system	system	NOUN
ejpam-799	147	32	of	of	ADP
ejpam-799	147	33	flexible	flexible	ADJ
ejpam-799	147	34	exchange	exchange	NOUN
ejpam-799	147	35	rates	rate	NOUN
ejpam-799	147	36	.	.	PUNCT
ejpam-799	148	1	as	as	SCONJ
ejpam-799	148	2	clearly	clearly	ADV
ejpam-799	148	3	indicated	indicate	VERB
ejpam-799	148	4	in	in	ADP
ejpam-799	148	5	the	the	DET
ejpam-799	148	6	figures	figure	NOUN
ejpam-799	148	7	,	,	PUNCT
ejpam-799	148	8	three	three	NUM
ejpam-799	148	9	structural	structural	ADJ
ejpam-799	148	10	break	break	NOUN
ejpam-799	148	11	points	point	NOUN
ejpam-799	148	12	(	(	PUNCT
ejpam-799	148	13	denoted	denote	VERB
ejpam-799	148	14	τ1,τ2	τ1,τ2	PROPN
ejpam-799	148	15	and	and	CCONJ
ejpam-799	148	16	τ3	τ3	NOUN
ejpam-799	148	17	)	)	PUNCT
ejpam-799	148	18	might	might	AUX
ejpam-799	148	19	exist	exist	VERB
ejpam-799	148	20	.	.	PUNCT
ejpam-799	149	1	exchange	exchange	NOUN
ejpam-799	149	2	rates	rate	NOUN
ejpam-799	149	3	for	for	ADP
ejpam-799	149	4	the	the	DET
ejpam-799	149	5	german	german	ADJ
ejpam-799	149	6	mark	mark	NOUN
ejpam-799	149	7	,	,	PUNCT
ejpam-799	149	8	italian	italian	ADJ
ejpam-799	149	9	lira	lira	NOUN
ejpam-799	149	10	and	and	CCONJ
ejpam-799	149	11	swiss	swiss	ADJ
ejpam-799	149	12	franc	franc	NOUN
ejpam-799	149	13	have	have	VERB
ejpam-799	149	14	common	common	ADJ
ejpam-799	149	15	structural	structural	ADJ
ejpam-799	149	16	break	break	NOUN
ejpam-799	149	17	points	point	NOUN
ejpam-799	149	18	:	:	PUNCT
ejpam-799	149	19	january	january	PROPN
ejpam-799	149	20	1980	1980	NUM
ejpam-799	149	21	(	(	PUNCT
ejpam-799	149	22	τ1	τ1	NOUN
ejpam-799	149	23	)	)	PUNCT
ejpam-799	149	24	,	,	PUNCT
ejpam-799	149	25	march	march	PROPN
ejpam-799	149	26	1985	1985	NUM
ejpam-799	149	27	(	(	PUNCT
ejpam-799	149	28	τ2	τ2	NOUN
ejpam-799	149	29	)	)	PUNCT
ejpam-799	149	30	and	and	CCONJ
ejpam-799	149	31	december	december	PROPN
ejpam-799	149	32	y.	y.	PROPN
ejpam-799	149	33	kim	kim	PROPN
ejpam-799	149	34	and	and	CCONJ
ejpam-799	149	35	t.	t.	PROPN
ejpam-799	149	36	kim	kim	PROPN
ejpam-799	149	37	/	/	SYM
ejpam-799	149	38	eur	eur	PROPN
ejpam-799	149	39	.	.	PUNCT
ejpam-799	150	1	j.	j.	PROPN
ejpam-799	150	2	pure	pure	PROPN
ejpam-799	150	3	appl	appl	PROPN
ejpam-799	150	4	.	.	PROPN
ejpam-799	150	5	math	math	PROPN
ejpam-799	150	6	,	,	PUNCT
ejpam-799	150	7	3	3	NUM
ejpam-799	150	8	(	(	PUNCT
ejpam-799	150	9	2010	2010	NUM
ejpam-799	150	10	)	)	PUNCT
ejpam-799	150	11	,	,	PUNCT
ejpam-799	150	12	502	502	NUM
ejpam-799	150	13	-	-	SYM
ejpam-799	150	14	518	518	NUM
ejpam-799	150	15	509	509	NUM
ejpam-799	150	16	1987	1987	NUM
ejpam-799	150	17	(	(	PUNCT
ejpam-799	150	18	τ3	τ3	PROPN
ejpam-799	150	19	)	)	PUNCT
ejpam-799	150	20	.	.	PUNCT
ejpam-799	151	1	exchange	exchange	NOUN
ejpam-799	151	2	rates	rate	NOUN
ejpam-799	151	3	for	for	ADP
ejpam-799	151	4	the	the	DET
ejpam-799	151	5	german	german	ADJ
ejpam-799	151	6	mark	mark	NOUN
ejpam-799	151	7	and	and	CCONJ
ejpam-799	151	8	the	the	DET
ejpam-799	151	9	italian	italian	ADJ
ejpam-799	151	10	lira	lira	NOUN
ejpam-799	151	11	generally	generally	ADV
ejpam-799	151	12	tend	tend	VERB
ejpam-799	151	13	to	to	PART
ejpam-799	151	14	move	move	VERB
ejpam-799	151	15	together	together	ADV
ejpam-799	151	16	from	from	ADP
ejpam-799	151	17	march	march	PROPN
ejpam-799	151	18	1979	1979	NUM
ejpam-799	151	19	,	,	PUNCT
ejpam-799	151	20	when	when	SCONJ
ejpam-799	151	21	germany	germany	PROPN
ejpam-799	151	22	and	and	CCONJ
ejpam-799	151	23	italy	italy	PROPN
ejpam-799	151	24	joined	join	VERB
ejpam-799	151	25	the	the	DET
ejpam-799	151	26	exchange	exchange	NOUN
ejpam-799	151	27	rate	rate	NOUN
ejpam-799	151	28	mechanism	mechanism	NOUN
ejpam-799	151	29	(	(	PUNCT
ejpam-799	151	30	erm	erm	PROPN
ejpam-799	151	31	)	)	PUNCT
ejpam-799	151	32	under	under	ADP
ejpam-799	151	33	the	the	DET
ejpam-799	151	34	european	european	ADJ
ejpam-799	151	35	monetary	monetary	ADJ
ejpam-799	151	36	system	system	NOUN
ejpam-799	151	37	,	,	PUNCT
ejpam-799	151	38	except	except	SCONJ
ejpam-799	151	39	for	for	ADP
ejpam-799	151	40	the	the	DET
ejpam-799	151	41	period	period	NOUN
ejpam-799	151	42	from	from	ADP
ejpam-799	151	43	september	september	PROPN
ejpam-799	151	44	1992	1992	NUM
ejpam-799	151	45	to	to	ADP
ejpam-799	151	46	november	november	PROPN
ejpam-799	151	47	1996	1996	NUM
ejpam-799	151	48	.	.	PUNCT
ejpam-799	152	1	this	this	DET
ejpam-799	152	2	later	later	ADJ
ejpam-799	152	3	disparity	disparity	NOUN
ejpam-799	152	4	is	be	AUX
ejpam-799	152	5	due	due	ADJ
ejpam-799	152	6	to	to	ADP
ejpam-799	152	7	the	the	DET
ejpam-799	152	8	fact	fact	NOUN
ejpam-799	152	9	that	that	SCONJ
ejpam-799	152	10	italy	italy	PROPN
ejpam-799	152	11	seceded	secede	VERB
ejpam-799	152	12	from	from	ADP
ejpam-799	152	13	the	the	DET
ejpam-799	152	14	erm	erm	PROPN
ejpam-799	152	15	in	in	ADP
ejpam-799	152	16	september	september	PROPN
ejpam-799	152	17	1992	1992	NUM
ejpam-799	152	18	and	and	CCONJ
ejpam-799	152	19	re	re	VERB
ejpam-799	152	20	-	-	VERB
ejpam-799	152	21	entered	enter	VERB
ejpam-799	152	22	in	in	ADP
ejpam-799	152	23	november	november	PROPN
ejpam-799	152	24	1996	1996	NUM
ejpam-799	152	25	.	.	PUNCT
ejpam-799	153	1	exchange	exchange	NOUN
ejpam-799	153	2	rates	rate	NOUN
ejpam-799	153	3	for	for	ADP
ejpam-799	153	4	the	the	DET
ejpam-799	153	5	swiss	swiss	ADJ
ejpam-799	153	6	franc	franc	NOUN
ejpam-799	153	7	move	move	NOUN
ejpam-799	153	8	very	very	ADV
ejpam-799	153	9	similarly	similarly	ADV
ejpam-799	153	10	to	to	PART
ejpam-799	153	11	exchange	exchange	VERB
ejpam-799	153	12	rates	rate	NOUN
ejpam-799	153	13	for	for	ADP
ejpam-799	153	14	the	the	DET
ejpam-799	153	15	german	german	ADJ
ejpam-799	153	16	mark	mark	NOUN
ejpam-799	153	17	.	.	PUNCT
ejpam-799	154	1	the	the	DET
ejpam-799	154	2	intermediate	intermediate	ADJ
ejpam-799	154	3	target	target	NOUN
ejpam-799	154	4	of	of	ADP
ejpam-799	154	5	the	the	DET
ejpam-799	154	6	swiss	swiss	PROPN
ejpam-799	154	7	national	national	PROPN
ejpam-799	154	8	bank	bank	PROPN
ejpam-799	154	9	was	be	AUX
ejpam-799	154	10	an	an	DET
ejpam-799	154	11	exchange	exchange	NOUN
ejpam-799	154	12	rate	rate	NOUN
ejpam-799	154	13	of	of	ADP
ejpam-799	154	14	0.8szf	0.8szf	NOUN
ejpam-799	154	15	/	/	SYM
ejpam-799	154	16	dm	dm	NOUN
ejpam-799	154	17	during	during	ADP
ejpam-799	154	18	the	the	DET
ejpam-799	154	19	period	period	NOUN
ejpam-799	154	20	from	from	ADP
ejpam-799	154	21	1975	1975	NUM
ejpam-799	154	22	to	to	ADP
ejpam-799	154	23	1980	1980	NUM
ejpam-799	154	24	.	.	PUNCT
ejpam-799	155	1	for	for	ADP
ejpam-799	155	2	these	these	DET
ejpam-799	155	3	three	three	NUM
ejpam-799	155	4	currencies	currency	NOUN
ejpam-799	155	5	,	,	PUNCT
ejpam-799	155	6	the	the	DET
ejpam-799	155	7	first	first	ADJ
ejpam-799	155	8	break	break	NOUN
ejpam-799	155	9	point	point	NOUN
ejpam-799	155	10	of	of	ADP
ejpam-799	155	11	january	january	PROPN
ejpam-799	155	12	1980	1980	NUM
ejpam-799	155	13	indicates	indicate	VERB
ejpam-799	155	14	the	the	DET
ejpam-799	155	15	start	start	NOUN
ejpam-799	155	16	of	of	ADP
ejpam-799	155	17	their	their	PRON
ejpam-799	155	18	depreciation	depreciation	NOUN
ejpam-799	155	19	against	against	ADP
ejpam-799	155	20	the	the	DET
ejpam-799	155	21	u.s	u.s	PROPN
ejpam-799	155	22	.	.	PROPN
ejpam-799	155	23	dollar	dollar	NOUN
ejpam-799	155	24	.	.	PUNCT
ejpam-799	156	1	the	the	DET
ejpam-799	156	2	combination	combination	NOUN
ejpam-799	156	3	of	of	ADP
ejpam-799	156	4	high	high	ADJ
ejpam-799	156	5	interest	interest	NOUN
ejpam-799	156	6	rates	rate	NOUN
ejpam-799	156	7	and	and	CCONJ
ejpam-799	156	8	the	the	DET
ejpam-799	156	9	low	low	ADJ
ejpam-799	156	10	inflation	inflation	NOUN
ejpam-799	156	11	rate	rate	NOUN
ejpam-799	156	12	in	in	ADP
ejpam-799	156	13	the	the	DET
ejpam-799	156	14	u.s	u.s	PROPN
ejpam-799	156	15	.	.	PROPN
ejpam-799	156	16	at	at	ADP
ejpam-799	156	17	that	that	DET
ejpam-799	156	18	time	time	NOUN
ejpam-799	156	19	caused	cause	VERB
ejpam-799	156	20	the	the	DET
ejpam-799	156	21	dollar	dollar	NOUN
ejpam-799	156	22	to	to	PART
ejpam-799	156	23	appreciate	appreciate	VERB
ejpam-799	156	24	against	against	ADP
ejpam-799	156	25	most	most	ADJ
ejpam-799	156	26	other	other	ADJ
ejpam-799	156	27	currencies	currency	NOUN
ejpam-799	156	28	.	.	PUNCT
ejpam-799	157	1	the	the	DET
ejpam-799	157	2	real	real	ADJ
ejpam-799	157	3	interest	interest	NOUN
ejpam-799	157	4	rate	rate	NOUN
ejpam-799	157	5	in	in	ADP
ejpam-799	157	6	the	the	DET
ejpam-799	157	7	u.s	u.s	PROPN
ejpam-799	157	8	.	.	PROPN
ejpam-799	157	9	exhibited	exhibit	VERB
ejpam-799	157	10	a	a	DET
ejpam-799	157	11	sudden	sudden	ADJ
ejpam-799	157	12	increase	increase	NOUN
ejpam-799	157	13	in	in	ADP
ejpam-799	157	14	the	the	DET
ejpam-799	157	15	year	year	NOUN
ejpam-799	157	16	1980	1980	NUM
ejpam-799	157	17	,	,	PUNCT
ejpam-799	157	18	which	which	PRON
ejpam-799	157	19	was	be	AUX
ejpam-799	157	20	associated	associate	VERB
ejpam-799	157	21	with	with	ADP
ejpam-799	157	22	a	a	DET
ejpam-799	157	23	change	change	NOUN
ejpam-799	157	24	in	in	ADP
ejpam-799	157	25	the	the	DET
ejpam-799	157	26	federal	federal	PROPN
ejpam-799	157	27	reserve	reserve	PROPN
ejpam-799	157	28	’s	’s	PART
ejpam-799	157	29	monetary	monetary	ADJ
ejpam-799	157	30	control	control	NOUN
ejpam-799	157	31	procedure	procedure	NOUN
ejpam-799	157	32	and	and	CCONJ
ejpam-799	157	33	the	the	DET
ejpam-799	157	34	depository	depository	NOUN
ejpam-799	157	35	institutions	institution	NOUN
ejpam-799	157	36	deregulation	deregulation	PROPN
ejpam-799	157	37	act	act	PROPN
ejpam-799	157	38	.	.	PUNCT
ejpam-799	158	1	the	the	DET
ejpam-799	158	2	three	three	NUM
ejpam-799	158	3	currencies	currency	NOUN
ejpam-799	158	4	continued	continue	VERB
ejpam-799	158	5	to	to	PART
ejpam-799	158	6	weaken	weaken	VERB
ejpam-799	158	7	against	against	ADP
ejpam-799	158	8	the	the	DET
ejpam-799	158	9	u.s	u.s	PROPN
ejpam-799	158	10	.	.	PROPN
ejpam-799	158	11	dollar	dollar	NOUN
ejpam-799	158	12	throughout	throughout	ADP
ejpam-799	158	13	the	the	DET
ejpam-799	158	14	early	early	ADJ
ejpam-799	158	15	1980s	1980s	NUM
ejpam-799	158	16	,	,	PUNCT
ejpam-799	158	17	and	and	CCONJ
ejpam-799	158	18	the	the	DET
ejpam-799	158	19	value	value	NOUN
ejpam-799	158	20	of	of	ADP
ejpam-799	158	21	the	the	DET
ejpam-799	158	22	u.s	u.s	PROPN
ejpam-799	158	23	.	.	PROPN
ejpam-799	158	24	dollar	dollar	NOUN
ejpam-799	158	25	reached	reach	VERB
ejpam-799	158	26	all	all	DET
ejpam-799	158	27	-	-	PUNCT
ejpam-799	158	28	time	time	NOUN
ejpam-799	158	29	highs	high	NOUN
ejpam-799	158	30	early	early	ADV
ejpam-799	158	31	in	in	ADP
ejpam-799	158	32	1985	1985	NUM
ejpam-799	158	33	.	.	PUNCT
ejpam-799	159	1	the	the	DET
ejpam-799	159	2	second	second	ADJ
ejpam-799	159	3	break	break	NOUN
ejpam-799	159	4	point	point	NOUN
ejpam-799	159	5	of	of	ADP
ejpam-799	159	6	march	march	PROPN
ejpam-799	159	7	1985	1985	NUM
ejpam-799	159	8	indicates	indicate	VERB
ejpam-799	159	9	the	the	DET
ejpam-799	159	10	switch	switch	NOUN
ejpam-799	159	11	from	from	ADP
ejpam-799	159	12	the	the	DET
ejpam-799	159	13	appreciation	appreciation	NOUN
ejpam-799	159	14	era	era	NOUN
ejpam-799	159	15	of	of	ADP
ejpam-799	159	16	the	the	DET
ejpam-799	159	17	u.s	u.s	PROPN
ejpam-799	159	18	.	.	PROPN
ejpam-799	159	19	dollar	dollar	NOUN
ejpam-799	159	20	to	to	ADP
ejpam-799	159	21	the	the	DET
ejpam-799	159	22	depreciation	depreciation	NOUN
ejpam-799	159	23	period	period	NOUN
ejpam-799	159	24	.	.	PUNCT
ejpam-799	160	1	this	this	DET
ejpam-799	160	2	structural	structural	ADJ
ejpam-799	160	3	break	break	NOUN
ejpam-799	160	4	could	could	AUX
ejpam-799	160	5	be	be	AUX
ejpam-799	160	6	related	relate	VERB
ejpam-799	160	7	to	to	ADP
ejpam-799	160	8	two	two	NUM
ejpam-799	160	9	events	event	NOUN
ejpam-799	160	10	:	:	PUNCT
ejpam-799	160	11	(	(	PUNCT
ejpam-799	160	12	i	i	NOUN
ejpam-799	160	13	)	)	PUNCT
ejpam-799	160	14	the	the	DET
ejpam-799	160	15	reagan	reagan	PROPN
ejpam-799	160	16	administration	administration	NOUN
ejpam-799	160	17	’s	’s	PART
ejpam-799	160	18	commitment	commitment	NOUN
ejpam-799	160	19	to	to	ADP
ejpam-799	160	20	the	the	DET
ejpam-799	160	21	floating	float	VERB
ejpam-799	160	22	exchange	exchange	NOUN
ejpam-799	160	23	rate	rate	NOUN
ejpam-799	160	24	system	system	NOUN
ejpam-799	160	25	started	start	VERB
ejpam-799	160	26	to	to	PART
ejpam-799	160	27	change	change	VERB
ejpam-799	160	28	when	when	SCONJ
ejpam-799	160	29	regan	regan	NOUN
ejpam-799	160	30	and	and	CCONJ
ejpam-799	160	31	sprinkel	sprinkel	ADJ
ejpam-799	160	32	were	be	AUX
ejpam-799	160	33	succeeded	succeed	VERB
ejpam-799	160	34	at	at	ADP
ejpam-799	160	35	the	the	DET
ejpam-799	160	36	treasury	treasury	NOUN
ejpam-799	160	37	by	by	ADP
ejpam-799	160	38	baker	baker	PROPN
ejpam-799	160	39	and	and	CCONJ
ejpam-799	160	40	darman	darman	PROPN
ejpam-799	160	41	in	in	ADP
ejpam-799	160	42	january	january	PROPN
ejpam-799	160	43	1985	1985	NUM
ejpam-799	160	44	;	;	PUNCT
ejpam-799	160	45	and	and	CCONJ
ejpam-799	160	46	(	(	PUNCT
ejpam-799	160	47	ii	ii	NOUN
ejpam-799	160	48	)	)	PUNCT
ejpam-799	160	49	in	in	ADP
ejpam-799	160	50	september	september	PROPN
ejpam-799	160	51	1985	1985	NUM
ejpam-799	160	52	,	,	PUNCT
ejpam-799	160	53	the	the	DET
ejpam-799	160	54	g-5	g-5	PROPN
ejpam-799	160	55	countries	country	NOUN
ejpam-799	160	56	reached	reach	VERB
ejpam-799	160	57	the	the	DET
ejpam-799	160	58	plaza	plaza	PROPN
ejpam-799	160	59	agreement	agreement	NOUN
ejpam-799	160	60	to	to	PART
ejpam-799	160	61	bring	bring	VERB
ejpam-799	160	62	down	down	ADP
ejpam-799	160	63	the	the	DET
ejpam-799	160	64	value	value	NOUN
ejpam-799	160	65	of	of	ADP
ejpam-799	160	66	the	the	DET
ejpam-799	160	67	u.s	u.s	PROPN
ejpam-799	160	68	.	.	PROPN
ejpam-799	160	69	dollar	dollar	NOUN
ejpam-799	160	70	.	.	PUNCT
ejpam-799	161	1	the	the	DET
ejpam-799	161	2	dollar	dollar	NOUN
ejpam-799	161	3	’s	’s	PART
ejpam-799	161	4	value	value	NOUN
ejpam-799	161	5	declined	decline	VERB
ejpam-799	161	6	persistently	persistently	ADV
ejpam-799	161	7	from	from	ADP
ejpam-799	161	8	march	march	PROPN
ejpam-799	161	9	1985	1985	NUM
ejpam-799	161	10	to	to	ADP
ejpam-799	161	11	the	the	DET
ejpam-799	161	12	end	end	NOUN
ejpam-799	161	13	of	of	ADP
ejpam-799	161	14	1987	1987	NUM
ejpam-799	161	15	,	,	PUNCT
ejpam-799	161	16	mainly	mainly	ADV
ejpam-799	161	17	due	due	ADP
ejpam-799	161	18	to	to	ADP
ejpam-799	161	19	the	the	DET
ejpam-799	161	20	large	large	ADJ
ejpam-799	161	21	trade	trade	NOUN
ejpam-799	161	22	deficit	deficit	NOUN
ejpam-799	161	23	in	in	ADP
ejpam-799	161	24	the	the	DET
ejpam-799	161	25	u.s	u.s	PROPN
ejpam-799	161	26	.	.	PROPN
ejpam-799	161	27	and	and	CCONJ
ejpam-799	161	28	governments	government	NOUN
ejpam-799	161	29	’	’	PART
ejpam-799	161	30	interventions	intervention	NOUN
ejpam-799	161	31	.	.	PUNCT
ejpam-799	162	1	the	the	DET
ejpam-799	162	2	third	third	ADJ
ejpam-799	162	3	break	break	NOUN
ejpam-799	162	4	point	point	NOUN
ejpam-799	162	5	of	of	ADP
ejpam-799	162	6	december	december	PROPN
ejpam-799	162	7	1987	1987	NUM
ejpam-799	162	8	denotes	denote	NOUN
ejpam-799	162	9	the	the	DET
ejpam-799	162	10	end	end	NOUN
ejpam-799	162	11	of	of	ADP
ejpam-799	162	12	the	the	DET
ejpam-799	162	13	u.s	u.s	PROPN
ejpam-799	162	14	.	.	PROPN
ejpam-799	162	15	dollar	dollar	PROPN
ejpam-799	162	16	’s	’s	PART
ejpam-799	162	17	depreciation	depreciation	NOUN
ejpam-799	162	18	era	era	NOUN
ejpam-799	162	19	,	,	PUNCT
ejpam-799	162	20	this	this	DET
ejpam-799	162	21	change	change	NOUN
ejpam-799	162	22	being	be	AUX
ejpam-799	162	23	caused	cause	VERB
ejpam-799	162	24	by	by	ADP
ejpam-799	162	25	a	a	DET
ejpam-799	162	26	decrease	decrease	NOUN
ejpam-799	162	27	in	in	ADP
ejpam-799	162	28	the	the	DET
ejpam-799	162	29	level	level	NOUN
ejpam-799	162	30	of	of	ADP
ejpam-799	162	31	the	the	DET
ejpam-799	162	32	u.s	u.s	PROPN
ejpam-799	162	33	.	.	PROPN
ejpam-799	162	34	trade	trade	NOUN
ejpam-799	162	35	deficit	deficit	NOUN
ejpam-799	162	36	and	and	CCONJ
ejpam-799	162	37	high	high	ADJ
ejpam-799	162	38	u.s	u.s	PROPN
ejpam-799	162	39	.	.	PROPN
ejpam-799	162	40	interest	interest	NOUN
ejpam-799	162	41	rates	rate	NOUN
ejpam-799	162	42	.	.	PUNCT
ejpam-799	163	1	the	the	DET
ejpam-799	163	2	third	third	ADJ
ejpam-799	163	3	break	break	NOUN
ejpam-799	163	4	point	point	NOUN
ejpam-799	163	5	was	be	AUX
ejpam-799	163	6	about	about	ADV
ejpam-799	163	7	10	10	NUM
ejpam-799	163	8	months	month	NOUN
ejpam-799	163	9	after	after	ADP
ejpam-799	163	10	the	the	DET
ejpam-799	163	11	louvre	louvre	NOUN
ejpam-799	163	12	agreement	agreement	NOUN
ejpam-799	163	13	that	that	SCONJ
ejpam-799	163	14	the	the	DET
ejpam-799	163	15	economic	economic	ADJ
ejpam-799	163	16	policy	policy	NOUN
ejpam-799	163	17	makers	maker	NOUN
ejpam-799	163	18	from	from	ADP
ejpam-799	163	19	the	the	DET
ejpam-799	163	20	g-5	g-5	PROPN
ejpam-799	163	21	countries	country	NOUN
ejpam-799	163	22	and	and	CCONJ
ejpam-799	163	23	canada	canada	PROPN
ejpam-799	163	24	agreed	agree	VERB
ejpam-799	163	25	in	in	ADP
ejpam-799	163	26	february	february	PROPN
ejpam-799	163	27	1987	1987	NUM
ejpam-799	163	28	,	,	PUNCT
ejpam-799	163	29	namely	namely	ADV
ejpam-799	163	30	that	that	SCONJ
ejpam-799	163	31	exchange	exchange	NOUN
ejpam-799	163	32	rates	rate	NOUN
ejpam-799	163	33	should	should	AUX
ejpam-799	163	34	be	be	AUX
ejpam-799	163	35	stabilized	stabilize	VERB
ejpam-799	163	36	around	around	ADP
ejpam-799	163	37	the	the	DET
ejpam-799	163	38	prevailing	prevail	VERB
ejpam-799	163	39	levels	level	NOUN
ejpam-799	163	40	.	.	PUNCT
ejpam-799	164	1	after	after	ADP
ejpam-799	164	2	the	the	DET
ejpam-799	164	3	third	third	ADJ
ejpam-799	164	4	break	break	NOUN
ejpam-799	164	5	point	point	NOUN
ejpam-799	164	6	,	,	PUNCT
ejpam-799	164	7	the	the	DET
ejpam-799	164	8	value	value	NOUN
ejpam-799	164	9	of	of	ADP
ejpam-799	164	10	the	the	DET
ejpam-799	164	11	u.s	u.s	PROPN
ejpam-799	164	12	.	.	PROPN
ejpam-799	164	13	dollar	dollar	NOUN
ejpam-799	164	14	became	became	AUX
ejpam-799	164	15	stabilized	stabilize	VERB
ejpam-799	164	16	until	until	ADP
ejpam-799	164	17	the	the	DET
ejpam-799	164	18	end	end	NOUN
ejpam-799	164	19	of	of	ADP
ejpam-799	164	20	the	the	DET
ejpam-799	164	21	sample	sample	NOUN
ejpam-799	164	22	period	period	NOUN
ejpam-799	164	23	in	in	ADP
ejpam-799	164	24	december	december	PROPN
ejpam-799	164	25	1998	1998	NUM
ejpam-799	164	26	.	.	PUNCT
ejpam-799	165	1	the	the	DET
ejpam-799	165	2	value	value	NOUN
ejpam-799	165	3	of	of	ADP
ejpam-799	165	4	the	the	DET
ejpam-799	165	5	canadian	canadian	ADJ
ejpam-799	165	6	dollar	dollar	NOUN
ejpam-799	165	7	in	in	ADP
ejpam-799	165	8	terms	term	NOUN
ejpam-799	165	9	of	of	ADP
ejpam-799	165	10	the	the	DET
ejpam-799	165	11	u.s	u.s	PROPN
ejpam-799	165	12	.	.	PROPN
ejpam-799	165	13	dollar	dollar	NOUN
ejpam-799	165	14	exhibits	exhibit	VERB
ejpam-799	165	15	a	a	DET
ejpam-799	165	16	quite	quite	ADV
ejpam-799	165	17	different	different	ADJ
ejpam-799	165	18	pattern	pattern	NOUN
ejpam-799	165	19	from	from	ADP
ejpam-799	165	20	that	that	PRON
ejpam-799	165	21	of	of	ADP
ejpam-799	165	22	the	the	DET
ejpam-799	165	23	other	other	ADJ
ejpam-799	165	24	three	three	NUM
ejpam-799	165	25	,	,	PUNCT
ejpam-799	165	26	european	european	ADJ
ejpam-799	165	27	,	,	PUNCT
ejpam-799	165	28	currencies	currency	NOUN
ejpam-799	165	29	.	.	PUNCT
ejpam-799	166	1	the	the	DET
ejpam-799	166	2	canadian	canadian	ADJ
ejpam-799	166	3	dollar	dollar	NOUN
ejpam-799	166	4	’s	’s	PART
ejpam-799	166	5	exchange	exchange	NOUN
ejpam-799	166	6	rate	rate	NOUN
ejpam-799	166	7	floated	float	VERB
ejpam-799	166	8	within	within	ADP
ejpam-799	166	9	a	a	DET
ejpam-799	166	10	narrower	narrow	ADJ
ejpam-799	166	11	band	band	NOUN
ejpam-799	166	12	.	.	PUNCT
ejpam-799	167	1	the	the	DET
ejpam-799	167	2	value	value	NOUN
ejpam-799	167	3	of	of	ADP
ejpam-799	167	4	the	the	DET
ejpam-799	167	5	canadian	canadian	ADJ
ejpam-799	167	6	currency	currency	NOUN
ejpam-799	167	7	appears	appear	VERB
ejpam-799	167	8	to	to	PART
ejpam-799	167	9	have	have	AUX
ejpam-799	167	10	had	have	VERB
ejpam-799	167	11	three	three	NUM
ejpam-799	167	12	structural	structural	ADJ
ejpam-799	167	13	breaks	break	NOUN
ejpam-799	167	14	:	:	PUNCT
ejpam-799	167	15	february	february	PROPN
ejpam-799	167	16	1986	1986	NUM
ejpam-799	167	17	(	(	PUNCT
ejpam-799	167	18	τ1	τ1	NOUN
ejpam-799	167	19	)	)	PUNCT
ejpam-799	167	20	,	,	PUNCT
ejpam-799	167	21	october	october	PROPN
ejpam-799	167	22	1991	1991	NUM
ejpam-799	167	23	(	(	PUNCT
ejpam-799	167	24	τ2	τ2	NOUN
ejpam-799	167	25	)	)	PUNCT
ejpam-799	167	26	and	and	CCONJ
ejpam-799	167	27	january	january	PROPN
ejpam-799	167	28	2002	2002	NUM
ejpam-799	167	29	(	(	PUNCT
ejpam-799	167	30	τ3	τ3	PROPN
ejpam-799	167	31	)	)	PUNCT
ejpam-799	167	32	,	,	PUNCT
ejpam-799	167	33	as	as	SCONJ
ejpam-799	167	34	indicated	indicate	VERB
ejpam-799	167	35	in	in	ADP
ejpam-799	167	36	figure	figure	NOUN
ejpam-799	167	37	4(i	4(i	NUM
ejpam-799	167	38	)	)	PUNCT
ejpam-799	167	39	.	.	PUNCT
ejpam-799	168	1	during	during	ADP
ejpam-799	168	2	the	the	DET
ejpam-799	168	3	second	second	ADJ
ejpam-799	168	4	half	half	NOUN
ejpam-799	168	5	of	of	ADP
ejpam-799	168	6	the	the	DET
ejpam-799	168	7	1970s	1970	NOUN
ejpam-799	168	8	,	,	PUNCT
ejpam-799	168	9	the	the	DET
ejpam-799	168	10	value	value	NOUN
ejpam-799	168	11	of	of	ADP
ejpam-799	168	12	the	the	DET
ejpam-799	168	13	canadian	canadian	ADJ
ejpam-799	168	14	dollar	dollar	NOUN
ejpam-799	168	15	against	against	ADP
ejpam-799	168	16	the	the	DET
ejpam-799	168	17	u.s	u.s	PROPN
ejpam-799	168	18	.	.	PROPN
ejpam-799	168	19	dollar	dollar	NOUN
ejpam-799	168	20	fell	fall	VERB
ejpam-799	168	21	,	,	PUNCT
ejpam-799	168	22	even	even	ADV
ejpam-799	168	23	though	though	SCONJ
ejpam-799	168	24	the	the	DET
ejpam-799	168	25	u.s	u.s	PROPN
ejpam-799	168	26	.	.	PROPN
ejpam-799	168	27	dollar	dollar	NOUN
ejpam-799	168	28	was	be	AUX
ejpam-799	168	29	depreciating	depreciate	VERB
ejpam-799	168	30	against	against	ADP
ejpam-799	168	31	other	other	ADJ
ejpam-799	168	32	major	major	ADJ
ejpam-799	168	33	currencies	currency	NOUN
ejpam-799	168	34	because	because	SCONJ
ejpam-799	168	35	of	of	ADP
ejpam-799	168	36	political	political	ADJ
ejpam-799	168	37	uncertainty	uncertainty	NOUN
ejpam-799	168	38	and	and	CCONJ
ejpam-799	168	39	a	a	DET
ejpam-799	168	40	substantial	substantial	ADJ
ejpam-799	168	41	current	current	ADJ
ejpam-799	168	42	account	account	NOUN
ejpam-799	168	43	deficit	deficit	NOUN
ejpam-799	168	44	in	in	ADP
ejpam-799	168	45	canada	canada	PROPN
ejpam-799	168	46	.	.	PUNCT
ejpam-799	169	1	unlike	unlike	ADP
ejpam-799	169	2	other	other	ADJ
ejpam-799	169	3	,	,	PUNCT
ejpam-799	169	4	european	european	ADJ
ejpam-799	169	5	,	,	PUNCT
ejpam-799	169	6	currencies	currency	NOUN
ejpam-799	169	7	,	,	PUNCT
ejpam-799	169	8	the	the	DET
ejpam-799	169	9	canadian	canadian	ADJ
ejpam-799	169	10	dollar	dollar	NOUN
ejpam-799	169	11	’s	’s	PART
ejpam-799	169	12	exchange	exchange	NOUN
ejpam-799	169	13	rate	rate	NOUN
ejpam-799	169	14	does	do	AUX
ejpam-799	169	15	not	not	PART
ejpam-799	169	16	show	show	VERB
ejpam-799	169	17	a	a	DET
ejpam-799	169	18	structural	structural	ADJ
ejpam-799	169	19	break	break	NOUN
ejpam-799	169	20	in	in	ADP
ejpam-799	169	21	the	the	DET
ejpam-799	169	22	early	early	ADJ
ejpam-799	169	23	1980s	1980	NOUN
ejpam-799	169	24	as	as	SCONJ
ejpam-799	169	25	noted	note	VERB
ejpam-799	169	26	by	by	ADP
ejpam-799	169	27	[	[	PUNCT
ejpam-799	169	28	9	9	NUM
ejpam-799	169	29	]	]	PUNCT
ejpam-799	169	30	.	.	PUNCT
ejpam-799	170	1	although	although	SCONJ
ejpam-799	170	2	the	the	DET
ejpam-799	170	3	major	major	ADJ
ejpam-799	170	4	currencies	currency	NOUN
ejpam-799	170	5	began	begin	VERB
ejpam-799	170	6	to	to	PART
ejpam-799	170	7	appreciate	appreciate	VERB
ejpam-799	170	8	against	against	ADP
ejpam-799	170	9	the	the	DET
ejpam-799	170	10	u.s	u.s	PROPN
ejpam-799	170	11	.	.	PROPN
ejpam-799	170	12	dollar	dollar	NOUN
ejpam-799	170	13	after	after	ADP
ejpam-799	170	14	the	the	DET
ejpam-799	170	15	plaza	plaza	PROPN
ejpam-799	170	16	agreement	agreement	NOUN
ejpam-799	170	17	,	,	PUNCT
ejpam-799	170	18	the	the	DET
ejpam-799	170	19	canadian	canadian	ADJ
ejpam-799	170	20	dollar	dollar	NOUN
ejpam-799	170	21	continued	continue	VERB
ejpam-799	170	22	to	to	PART
ejpam-799	170	23	depreciate	depreciate	VERB
ejpam-799	170	24	against	against	ADP
ejpam-799	170	25	the	the	DET
ejpam-799	170	26	u.s	u.s	PROPN
ejpam-799	170	27	.	.	PROPN
ejpam-799	170	28	dollar	dollar	NOUN
ejpam-799	170	29	due	due	ADP
ejpam-799	170	30	to	to	ADP
ejpam-799	170	31	concerns	concern	NOUN
ejpam-799	170	32	about	about	ADP
ejpam-799	170	33	weakening	weaken	VERB
ejpam-799	170	34	canadian	canadian	ADJ
ejpam-799	170	35	economic	economic	ADJ
ejpam-799	170	36	prospects	prospect	NOUN
ejpam-799	170	37	.	.	PUNCT
ejpam-799	171	1	in	in	ADP
ejpam-799	171	2	february	february	PROPN
ejpam-799	171	3	1986	1986	NUM
ejpam-799	171	4	,	,	PUNCT
ejpam-799	171	5	four	four	NUM
ejpam-799	171	6	months	month	NOUN
ejpam-799	171	7	after	after	ADP
ejpam-799	171	8	the	the	DET
ejpam-799	171	9	plaza	plaza	PROPN
ejpam-799	171	10	agreement	agreement	NOUN
ejpam-799	171	11	,	,	PUNCT
ejpam-799	171	12	the	the	DET
ejpam-799	171	13	canadian	canadian	ADJ
ejpam-799	171	14	dollar	dollar	NOUN
ejpam-799	171	15	appreciated	appreciate	VERB
ejpam-799	171	16	in	in	ADP
ejpam-799	171	17	value	value	NOUN
ejpam-799	171	18	,	,	PUNCT
ejpam-799	171	19	following	follow	VERB
ejpam-799	171	20	a	a	DET
ejpam-799	171	21	concerted	concerted	ADJ
ejpam-799	171	22	strategy	strategy	NOUN
ejpam-799	171	23	of	of	ADP
ejpam-799	171	24	aggressive	aggressive	ADJ
ejpam-799	171	25	intervention	intervention	NOUN
ejpam-799	171	26	in	in	ADP
ejpam-799	171	27	the	the	DET
ejpam-799	171	28	y.	y.	PROPN
ejpam-799	171	29	kim	kim	PROPN
ejpam-799	171	30	and	and	CCONJ
ejpam-799	171	31	t.	t.	PROPN
ejpam-799	171	32	kim	kim	PROPN
ejpam-799	171	33	/	/	SYM
ejpam-799	171	34	eur	eur	PROPN
ejpam-799	171	35	.	.	PUNCT
ejpam-799	172	1	j.	j.	PROPN
ejpam-799	172	2	pure	pure	PROPN
ejpam-799	172	3	appl	appl	PROPN
ejpam-799	172	4	.	.	PROPN
ejpam-799	172	5	math	math	PROPN
ejpam-799	172	6	,	,	PUNCT
ejpam-799	172	7	3	3	NUM
ejpam-799	172	8	(	(	PUNCT
ejpam-799	172	9	2010	2010	NUM
ejpam-799	172	10	)	)	PUNCT
ejpam-799	172	11	,	,	PUNCT
ejpam-799	172	12	502	502	NUM
ejpam-799	172	13	-	-	SYM
ejpam-799	172	14	518	518	NUM
ejpam-799	172	15	510	510	NUM
ejpam-799	172	16	exchange	exchange	NOUN
ejpam-799	172	17	market	market	NOUN
ejpam-799	172	18	,	,	PUNCT
ejpam-799	172	19	higher	high	ADJ
ejpam-799	172	20	interest	interest	NOUN
ejpam-799	172	21	rates	rate	NOUN
ejpam-799	172	22	and	and	CCONJ
ejpam-799	172	23	the	the	DET
ejpam-799	172	24	announcement	announcement	NOUN
ejpam-799	172	25	of	of	ADP
ejpam-799	172	26	large	large	ADJ
ejpam-799	172	27	borrowings	borrowing	NOUN
ejpam-799	172	28	by	by	ADP
ejpam-799	172	29	the	the	DET
ejpam-799	172	30	canadian	canadian	ADJ
ejpam-799	172	31	government	government	NOUN
ejpam-799	173	1	[	[	X
ejpam-799	173	2	17	17	NUM
ejpam-799	173	3	]	]	PUNCT
ejpam-799	173	4	.	.	PUNCT
ejpam-799	174	1	after	after	SCONJ
ejpam-799	174	2	canada	canada	PROPN
ejpam-799	174	3	agreed	agree	VERB
ejpam-799	174	4	to	to	ADP
ejpam-799	174	5	the	the	DET
ejpam-799	174	6	louvre	louvre	NOUN
ejpam-799	174	7	agreement	agreement	NOUN
ejpam-799	174	8	,	,	PUNCT
ejpam-799	174	9	the	the	DET
ejpam-799	174	10	canadian	canadian	ADJ
ejpam-799	174	11	dollar	dollar	NOUN
ejpam-799	174	12	continued	continue	VERB
ejpam-799	174	13	to	to	PART
ejpam-799	174	14	strengthen	strengthen	VERB
ejpam-799	174	15	until	until	ADP
ejpam-799	174	16	october	october	PROPN
ejpam-799	174	17	1991	1991	NUM
ejpam-799	174	18	due	due	ADP
ejpam-799	174	19	to	to	ADP
ejpam-799	174	20	the	the	DET
ejpam-799	174	21	interventions	intervention	NOUN
ejpam-799	174	22	and	and	CCONJ
ejpam-799	174	23	a	a	DET
ejpam-799	174	24	tightening	tightening	NOUN
ejpam-799	174	25	of	of	ADP
ejpam-799	174	26	monetary	monetary	ADJ
ejpam-799	174	27	policy	policy	NOUN
ejpam-799	174	28	.	.	PUNCT
ejpam-799	175	1	in	in	ADP
ejpam-799	175	2	november	november	PROPN
ejpam-799	175	3	1991	1991	NUM
ejpam-799	175	4	,	,	PUNCT
ejpam-799	175	5	the	the	DET
ejpam-799	175	6	canadian	canadian	ADJ
ejpam-799	175	7	dollar	dollar	NOUN
ejpam-799	175	8	began	begin	VERB
ejpam-799	175	9	to	to	PART
ejpam-799	175	10	depreciate	depreciate	VERB
ejpam-799	175	11	,	,	PUNCT
ejpam-799	175	12	largely	largely	ADV
ejpam-799	175	13	because	because	SCONJ
ejpam-799	175	14	of	of	ADP
ejpam-799	175	15	low	low	ADJ
ejpam-799	175	16	interest	interest	NOUN
ejpam-799	175	17	rates	rate	NOUN
ejpam-799	175	18	,	,	PUNCT
ejpam-799	175	19	large	large	ADJ
ejpam-799	175	20	fiscal	fiscal	ADJ
ejpam-799	175	21	and	and	CCONJ
ejpam-799	175	22	current	current	ADJ
ejpam-799	175	23	account	account	NOUN
ejpam-799	175	24	deficits	deficit	NOUN
ejpam-799	175	25	in	in	ADP
ejpam-799	175	26	canada	canada	PROPN
ejpam-799	175	27	,	,	PUNCT
ejpam-799	175	28	and	and	CCONJ
ejpam-799	175	29	softening	soften	VERB
ejpam-799	175	30	commodity	commodity	NOUN
ejpam-799	175	31	prices	price	NOUN
ejpam-799	175	32	.	.	PUNCT
ejpam-799	176	1	after	after	ADP
ejpam-799	176	2	almost	almost	ADV
ejpam-799	176	3	a	a	PRON
ejpam-799	176	4	decade	decade	NOUN
ejpam-799	176	5	of	of	ADP
ejpam-799	176	6	this	this	DET
ejpam-799	176	7	depreciation	depreciation	NOUN
ejpam-799	176	8	,	,	PUNCT
ejpam-799	176	9	the	the	DET
ejpam-799	176	10	canadian	canadian	ADJ
ejpam-799	176	11	dollar	dollar	NOUN
ejpam-799	176	12	started	start	VERB
ejpam-799	176	13	to	to	PART
ejpam-799	176	14	appreciate	appreciate	VERB
ejpam-799	176	15	again	again	ADV
ejpam-799	176	16	in	in	ADP
ejpam-799	176	17	january	january	PROPN
ejpam-799	176	18	2002	2002	NUM
ejpam-799	176	19	caused	cause	VERB
ejpam-799	176	20	by	by	ADP
ejpam-799	176	21	the	the	DET
ejpam-799	176	22	canadian	canadian	ADJ
ejpam-799	176	23	trade	trade	NOUN
ejpam-799	176	24	surplus	surplus	NOUN
ejpam-799	176	25	and	and	CCONJ
ejpam-799	176	26	the	the	DET
ejpam-799	176	27	general	general	ADJ
ejpam-799	176	28	depreciation	depreciation	NOUN
ejpam-799	176	29	of	of	ADP
ejpam-799	176	30	the	the	DET
ejpam-799	176	31	u.s	u.s	PROPN
ejpam-799	176	32	.	.	PROPN
ejpam-799	176	33	dollar	dollar	NOUN
ejpam-799	176	34	against	against	ADP
ejpam-799	176	35	all	all	DET
ejpam-799	176	36	major	major	ADJ
ejpam-799	176	37	floating	float	VERB
ejpam-799	176	38	currencies	currency	NOUN
ejpam-799	176	39	,	,	PUNCT
ejpam-799	176	40	itself	itself	PRON
ejpam-799	176	41	most	most	ADV
ejpam-799	176	42	likely	likely	ADV
ejpam-799	176	43	caused	cause	VERB
ejpam-799	176	44	by	by	ADP
ejpam-799	176	45	concern	concern	NOUN
ejpam-799	176	46	over	over	ADP
ejpam-799	176	47	u.s	u.s	PROPN
ejpam-799	176	48	.	.	PROPN
ejpam-799	176	49	fiscal	fiscal	ADJ
ejpam-799	176	50	and	and	CCONJ
ejpam-799	176	51	current	current	ADJ
ejpam-799	176	52	account	account	NOUN
ejpam-799	176	53	deficits	deficit	NOUN
ejpam-799	176	54	.	.	PUNCT
ejpam-799	177	1	table	table	NOUN
ejpam-799	177	2	1	1	NUM
ejpam-799	177	3	:	:	PUNCT
ejpam-799	177	4	descriptive	descriptive	ADJ
ejpam-799	177	5	statistics	statistic	NOUN
ejpam-799	177	6	for	for	ADP
ejpam-799	177	7	returns	return	NOUN
ejpam-799	177	8	on	on	ADP
ejpam-799	177	9	weekly	weekly	ADJ
ejpam-799	177	10	exchange	exchange	NOUN
ejpam-799	177	11	rates‡	rates‡	VERB
ejpam-799	177	12	can	can	AUX
ejpam-799	177	13	dm	dm	AUX
ejpam-799	177	14	szf	szf	VERB
ejpam-799	177	15	itl	itl	PROPN
ejpam-799	177	16	full	full	ADJ
ejpam-799	177	17	sample	sample	NOUN
ejpam-799	177	18	period	period	NOUN
ejpam-799	177	19	jan	jan	PROPN
ejpam-799	177	20	.	.	PROPN
ejpam-799	177	21	2	2	NUM
ejpam-799	177	22	,	,	PUNCT
ejpam-799	177	23	’	'	PUNCT
ejpam-799	177	24	74	74	NUM
ejpam-799	177	25	oct	oct	PROPN
ejpam-799	177	26	.	.	PROPN
ejpam-799	177	27	15	15	NUM
ejpam-799	177	28	,	,	PUNCT
ejpam-799	177	29	’	'	PUNCT
ejpam-799	177	30	03	03	NUM
ejpam-799	177	31	jan	jan	PROPN
ejpam-799	177	32	.	.	PROPN
ejpam-799	177	33	2	2	NUM
ejpam-799	177	34	,	,	PUNCT
ejpam-799	177	35	’	'	PUNCT
ejpam-799	177	36	74	74	NUM
ejpam-799	177	37	dec	dec	PROPN
ejpam-799	177	38	.	.	PROPN
ejpam-799	177	39	30	30	NUM
ejpam-799	177	40	,	,	PUNCT
ejpam-799	177	41	’	'	PUNCT
ejpam-799	177	42	98	98	NUM
ejpam-799	177	43	jan	jan	PROPN
ejpam-799	177	44	.	.	PROPN
ejpam-799	177	45	2	2	NUM
ejpam-799	177	46	,	,	PUNCT
ejpam-799	177	47	’	'	PUNCT
ejpam-799	177	48	74	74	NUM
ejpam-799	177	49	oct	oct	PROPN
ejpam-799	177	50	.	.	PROPN
ejpam-799	177	51	15	15	NUM
ejpam-799	177	52	,	,	PUNCT
ejpam-799	177	53	’	'	PUNCT
ejpam-799	177	54	03	03	NUM
ejpam-799	177	55	jan	jan	PROPN
ejpam-799	177	56	.	.	PROPN
ejpam-799	177	57	2	2	NUM
ejpam-799	177	58	,	,	PUNCT
ejpam-799	177	59	’	'	PUNCT
ejpam-799	177	60	74	74	NUM
ejpam-799	177	61	dec	dec	PROPN
ejpam-799	177	62	.	.	PROPN
ejpam-799	177	63	30	30	NUM
ejpam-799	177	64	,	,	PUNCT
ejpam-799	177	65	’	'	PUNCT
ejpam-799	177	66	98	98	NUM
ejpam-799	177	67	t	t	NOUN
ejpam-799	177	68	1554	1554	NUM
ejpam-799	177	69	1303	1303	NUM
ejpam-799	177	70	1554	1554	NUM
ejpam-799	177	71	1303	1303	NUM
ejpam-799	177	72	µ̂	µ̂	PUNCT
ejpam-799	177	73	0.00018	0.00018	NUM
ejpam-799	177	74	-0.00038	-0.00038	NOUN
ejpam-799	177	75	-0.00059	-0.00059	X
ejpam-799	177	76	0.00076	0.00076	NUM
ejpam-799	177	77	s.e.(µ̂	s.e.(µ̂	NOUN
ejpam-799	177	78	)	)	PUNCT
ejpam-799	177	79	(	(	PUNCT
ejpam-799	177	80	0.00017	0.00017	NUM
ejpam-799	177	81	)	)	PUNCT
ejpam-799	177	82	(	(	PUNCT
ejpam-799	177	83	0.00044	0.00044	NUM
ejpam-799	177	84	)	)	PUNCT
ejpam-799	177	85	(	(	PUNCT
ejpam-799	177	86	0.00045	0.00045	NUM
ejpam-799	177	87	)	)	PUNCT
ejpam-799	177	88	(	(	PUNCT
ejpam-799	177	89	0.00043	0.00043	NUM
ejpam-799	177	90	)	)	PUNCT
ejpam-799	177	91	subperiod	subperiod	NOUN
ejpam-799	177	92	1	1	NUM
ejpam-799	177	93	jan	jan	PROPN
ejpam-799	177	94	.	.	PROPN
ejpam-799	177	95	2	2	NUM
ejpam-799	177	96	,	,	PUNCT
ejpam-799	177	97	’	'	PUNCT
ejpam-799	177	98	74	74	NUM
ejpam-799	177	99	feb	feb	X
ejpam-799	177	100	.	.	PROPN
ejpam-799	177	101	5	5	NUM
ejpam-799	177	102	,	,	PUNCT
ejpam-799	177	103	’	'	PUNCT
ejpam-799	177	104	86	86	NUM
ejpam-799	177	105	jan	jan	PROPN
ejpam-799	177	106	.	.	PROPN
ejpam-799	177	107	2	2	NUM
ejpam-799	177	108	,	,	PUNCT
ejpam-799	177	109	’	'	PUNCT
ejpam-799	177	110	74	74	NUM
ejpam-799	177	111	jan	jan	PROPN
ejpam-799	177	112	.	.	PROPN
ejpam-799	177	113	9	9	NUM
ejpam-799	177	114	,	,	PUNCT
ejpam-799	177	115	’	'	PUNCT
ejpam-799	177	116	80	80	NUM
ejpam-799	177	117	jan	jan	PROPN
ejpam-799	177	118	.	.	PROPN
ejpam-799	177	119	2	2	NUM
ejpam-799	177	120	,	,	PUNCT
ejpam-799	177	121	’	'	PUNCT
ejpam-799	177	122	74	74	NUM
ejpam-799	177	123	jan	jan	PROPN
ejpam-799	177	124	.	.	PROPN
ejpam-799	177	125	9	9	NUM
ejpam-799	177	126	,	,	PUNCT
ejpam-799	177	127	’	'	PUNCT
ejpam-799	177	128	78	78	NUM
ejpam-799	177	129	jan	jan	PROPN
ejpam-799	177	130	.	.	PROPN
ejpam-799	177	131	2	2	NUM
ejpam-799	177	132	,	,	PUNCT
ejpam-799	177	133	’	'	PUNCT
ejpam-799	177	134	74	74	NUM
ejpam-799	177	135	jan	jan	PROPN
ejpam-799	177	136	.	.	PROPN
ejpam-799	177	137	2	2	NUM
ejpam-799	177	138	,	,	PUNCT
ejpam-799	177	139	’	'	PUNCT
ejpam-799	177	140	80	80	NUM
ejpam-799	177	141	t1	t1	NOUN
ejpam-799	177	142	631	631	NUM
ejpam-799	177	143	314	314	NUM
ejpam-799	177	144	314	314	NUM
ejpam-799	177	145	313	313	NUM
ejpam-799	177	146	µ̂1	µ̂1	ADP
ejpam-799	177	147	0.00059	0.00059	NUM
ejpam-799	177	148	-0.00152	-0.00152	NOUN
ejpam-799	177	149	-0.00239	-0.00239	VERB
ejpam-799	178	1	0.00084	0.00084	NUM
ejpam-799	178	2	s.e.(µ̂1	s.e.(µ̂1	NOUN
ejpam-799	178	3	)	)	PUNCT
ejpam-799	178	4	(	(	PUNCT
ejpam-799	178	5	0.00024	0.00024	NUM
ejpam-799	178	6	)	)	PUNCT
ejpam-799	178	7	(	(	PUNCT
ejpam-799	178	8	0.00068	0.00068	NUM
ejpam-799	178	9	)	)	PUNCT
ejpam-799	178	10	(	(	PUNCT
ejpam-799	178	11	0.00088	0.00088	NUM
ejpam-799	178	12	)	)	PUNCT
ejpam-799	178	13	(	(	PUNCT
ejpam-799	178	14	0.00071	0.00071	NUM
ejpam-799	178	15	)	)	PUNCT
ejpam-799	178	16	subperiod	subperiod	NOUN
ejpam-799	178	17	2	2	NUM
ejpam-799	178	18	feb	feb	X
ejpam-799	178	19	.	.	PROPN
ejpam-799	178	20	12	12	NUM
ejpam-799	178	21	,	,	PUNCT
ejpam-799	178	22	’	'	PUNCT
ejpam-799	178	23	86	86	NUM
ejpam-799	178	24	oct	oct	PROPN
ejpam-799	178	25	.	.	PROPN
ejpam-799	178	26	30	30	NUM
ejpam-799	178	27	,	,	PUNCT
ejpam-799	178	28	’	'	PUNCT
ejpam-799	178	29	91	91	NUM
ejpam-799	178	30	jan	jan	PROPN
ejpam-799	178	31	.	.	PROPN
ejpam-799	178	32	16	16	NUM
ejpam-799	178	33	,	,	PUNCT
ejpam-799	178	34	’	'	PUNCT
ejpam-799	178	35	80	80	NUM
ejpam-799	178	36	mar	mar	PROPN
ejpam-799	178	37	.	.	PROPN
ejpam-799	178	38	6	6	NUM
ejpam-799	178	39	,	,	PUNCT
ejpam-799	178	40	’	'	PUNCT
ejpam-799	178	41	85	85	NUM
ejpam-799	178	42	jan	jan	PROPN
ejpam-799	178	43	.	.	PROPN
ejpam-799	178	44	16	16	NUM
ejpam-799	178	45	,	,	PUNCT
ejpam-799	178	46	’	'	PUNCT
ejpam-799	178	47	78	78	NUM
ejpam-799	178	48	mar	mar	PROPN
ejpam-799	178	49	.	.	PROPN
ejpam-799	178	50	6	6	NUM
ejpam-799	178	51	,	,	PUNCT
ejpam-799	178	52	’	'	PUNCT
ejpam-799	178	53	85	85	NUM
ejpam-799	178	54	jan	jan	PROPN
ejpam-799	178	55	.	.	PROPN
ejpam-799	178	56	9	9	NUM
ejpam-799	178	57	,	,	PUNCT
ejpam-799	178	58	’	'	PUNCT
ejpam-799	178	59	80	80	NUM
ejpam-799	178	60	mar	mar	PROPN
ejpam-799	178	61	.	.	PROPN
ejpam-799	178	62	13	13	NUM
ejpam-799	178	63	,	,	PUNCT
ejpam-799	178	64	’	'	PUNCT
ejpam-799	178	65	85	85	NUM
ejpam-799	178	66	t2	t2	NOUN
ejpam-799	178	67	299	299	NUM
ejpam-799	178	68	269	269	NUM
ejpam-799	178	69	269	269	NUM
ejpam-799	178	70	271	271	NUM
ejpam-799	178	71	µ̂2	µ̂2	NOUN
ejpam-799	178	72	-0.00081	-0.00081	NOUN
ejpam-799	179	1	0.00253	0.00253	NUM
ejpam-799	179	2	0.00227	0.00227	NUM
ejpam-799	179	3	0.00356	0.00356	NUM
ejpam-799	179	4	s.e.(µ̂2	s.e.(µ̂2	NOUN
ejpam-799	179	5	)	)	PUNCT
ejpam-799	179	6	(	(	PUNCT
ejpam-799	179	7	0.00030	0.00030	NUM
ejpam-799	179	8	)	)	PUNCT
ejpam-799	179	9	(	(	PUNCT
ejpam-799	179	10	0.00098	0.00098	NUM
ejpam-799	179	11	)	)	PUNCT
ejpam-799	179	12	(	(	PUNCT
ejpam-799	179	13	0.00108	0.00108	NUM
ejpam-799	179	14	)	)	PUNCT
ejpam-799	179	15	(	(	PUNCT
ejpam-799	179	16	0.00086	0.00086	NUM
ejpam-799	179	17	)	)	PUNCT
ejpam-799	179	18	subperiod	subperiod	NOUN
ejpam-799	179	19	3	3	NUM
ejpam-799	179	20	nov	nov	NOUN
ejpam-799	179	21	.	.	PROPN
ejpam-799	179	22	6	6	NUM
ejpam-799	179	23	,	,	PUNCT
ejpam-799	179	24	’	'	PUNCT
ejpam-799	179	25	91	91	NUM
ejpam-799	179	26	jan	jan	PROPN
ejpam-799	179	27	.	.	PROPN
ejpam-799	179	28	23	23	NUM
ejpam-799	179	29	,	,	PUNCT
ejpam-799	179	30	’	'	PUNCT
ejpam-799	179	31	02	02	NUM
ejpam-799	179	32	mar	mar	PROPN
ejpam-799	179	33	.	.	PROPN
ejpam-799	179	34	13	13	NUM
ejpam-799	179	35	,	,	PUNCT
ejpam-799	179	36	’	'	PUNCT
ejpam-799	179	37	85	85	NUM
ejpam-799	179	38	dec	dec	PROPN
ejpam-799	179	39	.	.	PROPN
ejpam-799	179	40	30	30	NUM
ejpam-799	179	41	,	,	PUNCT
ejpam-799	179	42	’	'	PUNCT
ejpam-799	179	43	87	87	NUM
ejpam-799	179	44	mar	mar	PROPN
ejpam-799	179	45	.	.	PROPN
ejpam-799	179	46	13	13	NUM
ejpam-799	179	47	,	,	PUNCT
ejpam-799	179	48	’	'	PUNCT
ejpam-799	179	49	85	85	NUM
ejpam-799	179	50	dec	dec	PROPN
ejpam-799	179	51	.	.	PROPN
ejpam-799	179	52	30	30	NUM
ejpam-799	179	53	,	,	PUNCT
ejpam-799	179	54	’	'	PUNCT
ejpam-799	179	55	87	87	NUM
ejpam-799	179	56	mar	mar	PROPN
ejpam-799	179	57	.	.	PROPN
ejpam-799	179	58	20	20	NUM
ejpam-799	179	59	,	,	PUNCT
ejpam-799	179	60	’	'	PUNCT
ejpam-799	179	61	85	85	NUM
ejpam-799	179	62	dec	dec	PROPN
ejpam-799	179	63	.	.	PROPN
ejpam-799	179	64	30	30	NUM
ejpam-799	179	65	,	,	PUNCT
ejpam-799	179	66	’	'	PUNCT
ejpam-799	179	67	87	87	NUM
ejpam-799	179	68	t3	t3	NOUN
ejpam-799	179	69	571	571	NUM
ejpam-799	179	70	147	147	NUM
ejpam-799	179	71	147	147	NUM
ejpam-799	179	72	146	146	NUM
ejpam-799	179	73	µ̂3	µ̂3	ADP
ejpam-799	179	74	0.00061	0.00061	NUM
ejpam-799	179	75	-0.00513	-0.00513	NOUN
ejpam-799	179	76	-0.00551	-0.00551	PUNCT
ejpam-799	179	77	-0.00397	-0.00397	NOUN
ejpam-799	180	1	s.e.(µ̂3	s.e.(µ̂3	NOUN
ejpam-799	180	2	)	)	PUNCT
ejpam-799	180	3	(	(	PUNCT
ejpam-799	180	4	0.00027	0.00027	NUM
ejpam-799	180	5	)	)	PUNCT
ejpam-799	180	6	(	(	PUNCT
ejpam-799	180	7	0.00130	0.00130	NUM
ejpam-799	180	8	)	)	PUNCT
ejpam-799	180	9	(	(	PUNCT
ejpam-799	180	10	0.00146	0.00146	NUM
ejpam-799	180	11	)	)	PUNCT
ejpam-799	180	12	(	(	PUNCT
ejpam-799	180	13	0.00113	0.00113	NUM
ejpam-799	180	14	)	)	PUNCT
ejpam-799	180	15	subperiod	subperiod	NOUN
ejpam-799	180	16	4	4	NUM
ejpam-799	180	17	oct	oct	NOUN
ejpam-799	180	18	.	.	PROPN
ejpam-799	180	19	16	16	NUM
ejpam-799	180	20	,	,	PUNCT
ejpam-799	180	21	’	'	PUNCT
ejpam-799	180	22	02	02	NUM
ejpam-799	180	23	oct	oct	PROPN
ejpam-799	180	24	.	.	PROPN
ejpam-799	180	25	15	15	NUM
ejpam-799	180	26	,	,	PUNCT
ejpam-799	180	27	’	'	PUNCT
ejpam-799	180	28	03	03	NUM
ejpam-799	180	29	jan	jan	PROPN
ejpam-799	180	30	.	.	PROPN
ejpam-799	180	31	6	6	NUM
ejpam-799	180	32	,	,	PUNCT
ejpam-799	180	33	’	'	PUNCT
ejpam-799	180	34	88	88	NUM
ejpam-799	180	35	dec	dec	PROPN
ejpam-799	180	36	.	.	PROPN
ejpam-799	180	37	30	30	NUM
ejpam-799	180	38	,	,	PUNCT
ejpam-799	180	39	’	'	PUNCT
ejpam-799	180	40	98	98	NUM
ejpam-799	180	41	jan	jan	PROPN
ejpam-799	180	42	.	.	PROPN
ejpam-799	181	1	6,’88	6,’88	NUM
ejpam-799	181	2	oct	oct	PROPN
ejpam-799	181	3	.	.	PROPN
ejpam-799	182	1	15,’03	15,’03	NUM
ejpam-799	183	1	jan	jan	PROPN
ejpam-799	183	2	.	.	PROPN
ejpam-799	184	1	6,’88	6,’88	NUM
ejpam-799	184	2	dec	dec	PROPN
ejpam-799	184	3	.	.	PUNCT
ejpam-799	185	1	30,’98	30,’98	NUM
ejpam-799	185	2	t4	t4	PROPN
ejpam-799	185	3	53	53	NUM
ejpam-799	185	4	573	573	NUM
ejpam-799	185	5	824	824	NUM
ejpam-799	185	6	573	573	NUM
ejpam-799	185	7	µ̂4	µ̂4	NOUN
ejpam-799	185	8	-0.00349	-0.00349	NOUN
ejpam-799	185	9	0.00008	0.00008	NUM
ejpam-799	185	10	0.00003	0.00003	NUM
ejpam-799	185	11	0.00060	0.00060	NUM
ejpam-799	185	12	s.e.(µ̂4	s.e.(µ̂4	PROPN
ejpam-799	185	13	)	)	PUNCT
ejpam-799	185	14	(	(	PUNCT
ejpam-799	185	15	0.00152	0.00152	NUM
ejpam-799	185	16	)	)	PUNCT
ejpam-799	185	17	(	(	PUNCT
ejpam-799	185	18	0.00065	0.00065	NUM
ejpam-799	185	19	)	)	PUNCT
ejpam-799	185	20	(	(	PUNCT
ejpam-799	185	21	0.00059	0.00059	NUM
ejpam-799	185	22	)	)	PUNCT
ejpam-799	185	23	(	(	PUNCT
ejpam-799	185	24	0.00068	0.00068	NUM
ejpam-799	185	25	)	)	PUNCT
ejpam-799	185	26	after	after	ADP
ejpam-799	185	27	identifying	identify	VERB
ejpam-799	185	28	the	the	DET
ejpam-799	185	29	possible	possible	ADJ
ejpam-799	185	30	break	break	NOUN
ejpam-799	185	31	points	point	NOUN
ejpam-799	185	32	,	,	PUNCT
ejpam-799	185	33	we	we	PRON
ejpam-799	185	34	use	use	VERB
ejpam-799	185	35	a	a	DET
ejpam-799	185	36	formal	formal	ADJ
ejpam-799	185	37	testing	testing	NOUN
ejpam-799	185	38	procedure	procedure	NOUN
ejpam-799	185	39	to	to	PART
ejpam-799	185	40	check	check	VERB
ejpam-799	185	41	if	if	SCONJ
ejpam-799	185	42	there	there	PRON
ejpam-799	185	43	is	be	VERB
ejpam-799	185	44	statistical	statistical	ADJ
ejpam-799	185	45	evidence	evidence	NOUN
ejpam-799	185	46	to	to	PART
ejpam-799	185	47	justify	justify	VERB
ejpam-799	185	48	the	the	DET
ejpam-799	185	49	choice	choice	NOUN
ejpam-799	185	50	.	.	PUNCT
ejpam-799	186	1	with	with	ADP
ejpam-799	186	2	three	three	NUM
ejpam-799	186	3	break	break	NOUN
ejpam-799	186	4	points	point	NOUN
ejpam-799	186	5	,	,	PUNCT
ejpam-799	186	6	we	we	PRON
ejpam-799	186	7	have	have	VERB
ejpam-799	186	8	four	four	NUM
ejpam-799	186	9	y.	y.	PROPN
ejpam-799	186	10	kim	kim	PROPN
ejpam-799	186	11	and	and	CCONJ
ejpam-799	186	12	t.	t.	PROPN
ejpam-799	186	13	kim	kim	PROPN
ejpam-799	186	14	/	/	SYM
ejpam-799	186	15	eur	eur	PROPN
ejpam-799	186	16	.	.	PUNCT
ejpam-799	187	1	j.	j.	PROPN
ejpam-799	187	2	pure	pure	PROPN
ejpam-799	187	3	appl	appl	PROPN
ejpam-799	187	4	.	.	PROPN
ejpam-799	187	5	math	math	PROPN
ejpam-799	187	6	,	,	PUNCT
ejpam-799	187	7	3	3	NUM
ejpam-799	187	8	(	(	PUNCT
ejpam-799	187	9	2010	2010	NUM
ejpam-799	187	10	)	)	PUNCT
ejpam-799	187	11	,	,	PUNCT
ejpam-799	187	12	502	502	NUM
ejpam-799	187	13	-	-	SYM
ejpam-799	187	14	518	518	NUM
ejpam-799	187	15	511	511	NUM
ejpam-799	187	16	possible	possible	ADJ
ejpam-799	187	17	drift	drift	NOUN
ejpam-799	187	18	terms	term	NOUN
ejpam-799	187	19	denoted	denote	VERB
ejpam-799	187	20	µ1,µ2,µ3	µ1,µ2,µ3	ADV
ejpam-799	187	21	and	and	CCONJ
ejpam-799	187	22	µ4	µ4	PROPN
ejpam-799	187	23	.	.	PUNCT
ejpam-799	188	1	each	each	DET
ejpam-799	188	2	term	term	NOUN
ejpam-799	188	3	is	be	AUX
ejpam-799	188	4	estimated	estimate	VERB
ejpam-799	188	5	by	by	ADP
ejpam-799	188	6	µ̂i	µ̂i	NUM
ejpam-799	188	7	=	=	SYM
ejpam-799	188	8	1	1	NUM
ejpam-799	188	9	[	[	X
ejpam-799	188	10	τi	τi	NOUN
ejpam-799	188	11	t]−	t]−	NOUN
ejpam-799	189	1	[	[	X
ejpam-799	189	2	τi−1	τi−1	NOUN
ejpam-799	189	3	t	t	PROPN
ejpam-799	189	4	]	]	X
ejpam-799	190	1	[	[	X
ejpam-799	190	2	τi	τi	ADP
ejpam-799	190	3	t]∑	t]∑	NOUN
ejpam-799	190	4	t=[τi−1t]+1	t=[τi−1t]+1	NUM
ejpam-799	190	5	rt	rt	INTJ
ejpam-799	190	6	,	,	PUNCT
ejpam-799	190	7	where	where	SCONJ
ejpam-799	190	8	rt	rt	PROPN
ejpam-799	190	9	=	=	PROPN
ejpam-799	190	10	ln	ln	PROPN
ejpam-799	190	11	st	st	PROPN
ejpam-799	190	12	−	−	PROPN
ejpam-799	190	13	lnst−1	lnst−1	PROPN
ejpam-799	190	14	,	,	PUNCT
ejpam-799	190	15	τ0	τ0	NOUN
ejpam-799	190	16	=	=	SYM
ejpam-799	190	17	0	0	NUM
ejpam-799	190	18	and	and	CCONJ
ejpam-799	190	19	τ4	τ4	PROPN
ejpam-799	190	20	=	=	SYM
ejpam-799	190	21	1	1	X
ejpam-799	190	22	.	.	PUNCT
ejpam-799	190	23	table	table	NOUN
ejpam-799	190	24	1	1	NUM
ejpam-799	190	25	presents	present	VERB
ejpam-799	190	26	the	the	DET
ejpam-799	190	27	estimates	estimate	NOUN
ejpam-799	190	28	of	of	ADP
ejpam-799	190	29	drift	drift	NOUN
ejpam-799	190	30	terms	term	NOUN
ejpam-799	190	31	,	,	PUNCT
ejpam-799	190	32	µ̂i	µ̂i	NUM
ejpam-799	190	33	,	,	PUNCT
ejpam-799	190	34	their	their	PRON
ejpam-799	190	35	standard	standard	ADJ
ejpam-799	190	36	errors	error	NOUN
ejpam-799	190	37	and	and	CCONJ
ejpam-799	190	38	the	the	DET
ejpam-799	190	39	number	number	NOUN
ejpam-799	190	40	of	of	ADP
ejpam-799	190	41	observations	observation	NOUN
ejpam-799	190	42	,	,	PUNCT
ejpam-799	190	43	t	t	PROPN
ejpam-799	190	44	,	,	PUNCT
ejpam-799	190	45	for	for	ADP
ejpam-799	190	46	the	the	DET
ejpam-799	190	47	full	full	ADJ
ejpam-799	190	48	sample	sample	NOUN
ejpam-799	190	49	,	,	PUNCT
ejpam-799	190	50	for	for	ADP
ejpam-799	190	51	each	each	DET
ejpam-799	190	52	sub	sub	NOUN
ejpam-799	190	53	-	-	NOUN
ejpam-799	190	54	period	period	NOUN
ejpam-799	190	55	,	,	PUNCT
ejpam-799	190	56	and	and	CCONJ
ejpam-799	190	57	for	for	ADP
ejpam-799	190	58	each	each	DET
ejpam-799	190	59	country	country	NOUN
ejpam-799	190	60	.	.	PUNCT
ejpam-799	191	1	the	the	DET
ejpam-799	191	2	estimates	estimate	NOUN
ejpam-799	191	3	of	of	ADP
ejpam-799	191	4	drift	drift	NOUN
ejpam-799	191	5	terms	term	NOUN
ejpam-799	191	6	µ̂	µ̂	PUNCT
ejpam-799	191	7	based	base	VERB
ejpam-799	191	8	on	on	ADP
ejpam-799	191	9	the	the	DET
ejpam-799	191	10	full	full	ADJ
ejpam-799	191	11	sample	sample	NOUN
ejpam-799	191	12	are	be	AUX
ejpam-799	191	13	not	not	PART
ejpam-799	191	14	statistically	statistically	ADV
ejpam-799	191	15	significant	significant	ADJ
ejpam-799	191	16	for	for	ADP
ejpam-799	191	17	all	all	DET
ejpam-799	191	18	countries	country	NOUN
ejpam-799	191	19	.	.	PUNCT
ejpam-799	192	1	we	we	PRON
ejpam-799	192	2	have	have	AUX
ejpam-799	192	3	tested	test	VERB
ejpam-799	192	4	the	the	DET
ejpam-799	192	5	null	null	ADJ
ejpam-799	192	6	hypothesis	hypothesis	NOUN
ejpam-799	192	7	h0	h0	NOUN
ejpam-799	192	8	:	:	PUNCT
ejpam-799	192	9	µi	µi	PROPN
ejpam-799	192	10	=	=	PUNCT
ejpam-799	192	11	µi+1	µi+1	NUM
ejpam-799	192	12	(	(	PUNCT
ejpam-799	192	13	i	i	NOUN
ejpam-799	192	14	=	=	NOUN
ejpam-799	192	15	1,2,3	1,2,3	NUM
ejpam-799	192	16	)	)	PUNCT
ejpam-799	192	17	and	and	CCONJ
ejpam-799	192	18	h0	h0	NOUN
ejpam-799	192	19	:	:	PUNCT
ejpam-799	193	1	µ1	µ1	PROPN
ejpam-799	193	2	=	=	SYM
ejpam-799	193	3	µ2	µ2	PROPN
ejpam-799	193	4	=	=	PUNCT
ejpam-799	193	5	µ3	µ3	NOUN
ejpam-799	194	1	=	=	SYM
ejpam-799	194	2	µ4	µ4	PROPN
ejpam-799	194	3	for	for	ADP
ejpam-799	194	4	each	each	DET
ejpam-799	194	5	country	country	NOUN
ejpam-799	194	6	using	use	VERB
ejpam-799	194	7	the	the	DET
ejpam-799	194	8	t	t	NOUN
ejpam-799	194	9	-	-	PUNCT
ejpam-799	194	10	test	test	NOUN
ejpam-799	194	11	and	and	CCONJ
ejpam-799	194	12	the	the	DET
ejpam-799	194	13	f	f	PROPN
ejpam-799	194	14	-test	-test	PROPN
ejpam-799	194	15	based	base	VERB
ejpam-799	194	16	on	on	ADP
ejpam-799	194	17	the	the	DET
ejpam-799	194	18	hac	hac	X
ejpam-799	194	19	standard	standard	ADJ
ejpam-799	194	20	errors	error	NOUN
ejpam-799	194	21	.	.	PUNCT
ejpam-799	195	1	the	the	DET
ejpam-799	195	2	nulls	null	NOUN
ejpam-799	195	3	are	be	AUX
ejpam-799	195	4	rejected	reject	VERB
ejpam-799	195	5	for	for	ADP
ejpam-799	195	6	all	all	DET
ejpam-799	195	7	sub	sub	NOUN
ejpam-799	195	8	-	-	NOUN
ejpam-799	195	9	periods	period	NOUN
ejpam-799	195	10	and	and	CCONJ
ejpam-799	195	11	for	for	ADP
ejpam-799	195	12	all	all	DET
ejpam-799	195	13	countries	country	NOUN
ejpam-799	195	14	at	at	ADP
ejpam-799	195	15	the	the	DET
ejpam-799	195	16	1	1	NUM
ejpam-799	195	17	%	%	NOUN
ejpam-799	195	18	significance	significance	NOUN
ejpam-799	195	19	level	level	NOUN
ejpam-799	195	20	.	.	PUNCT
ejpam-799	196	1	the	the	PRON
ejpam-799	196	2	t	t	NOUN
ejpam-799	196	3	-	-	PUNCT
ejpam-799	196	4	values	value	NOUN
ejpam-799	196	5	and	and	CCONJ
ejpam-799	196	6	f	f	PROPN
ejpam-799	196	7	-values	-value	NOUN
ejpam-799	196	8	are	be	AUX
ejpam-799	196	9	reported	report	VERB
ejpam-799	196	10	in	in	ADP
ejpam-799	196	11	table	table	NOUN
ejpam-799	196	12	2	2	NUM
ejpam-799	196	13	.	.	PUNCT
ejpam-799	197	1	the	the	DET
ejpam-799	197	2	estimates	estimate	NOUN
ejpam-799	197	3	of	of	ADP
ejpam-799	197	4	µ̂i	µ̂i	NUM
ejpam-799	197	5	are	be	AUX
ejpam-799	197	6	significantly	significantly	ADV
ejpam-799	197	7	different	different	ADJ
ejpam-799	197	8	across	across	ADP
ejpam-799	197	9	the	the	DET
ejpam-799	197	10	subsamples	subsample	NOUN
ejpam-799	197	11	and	and	CCONJ
ejpam-799	197	12	the	the	DET
ejpam-799	197	13	changing	change	VERB
ejpam-799	197	14	sign	sign	NOUN
ejpam-799	197	15	of	of	ADP
ejpam-799	197	16	µ̂i	µ̂i	NUM
ejpam-799	197	17	is	be	AUX
ejpam-799	197	18	entirely	entirely	ADV
ejpam-799	197	19	consistent	consistent	ADJ
ejpam-799	197	20	with	with	ADP
ejpam-799	197	21	our	our	PRON
ejpam-799	197	22	previous	previous	ADJ
ejpam-799	197	23	discussion	discussion	NOUN
ejpam-799	197	24	of	of	ADP
ejpam-799	197	25	the	the	DET
ejpam-799	197	26	appreciation	appreciation	NOUN
ejpam-799	197	27	and	and	CCONJ
ejpam-799	197	28	depreciation	depreciation	NOUN
ejpam-799	197	29	periods	period	NOUN
ejpam-799	197	30	;	;	PUNCT
ejpam-799	197	31	that	that	PRON
ejpam-799	197	32	is	is	ADV
ejpam-799	197	33	,	,	PUNCT
ejpam-799	197	34	the	the	DET
ejpam-799	197	35	sign	sign	NOUN
ejpam-799	197	36	of	of	ADP
ejpam-799	197	37	the	the	DET
ejpam-799	197	38	sample	sample	NOUN
ejpam-799	197	39	mean	mean	VERB
ejpam-799	197	40	is	be	AUX
ejpam-799	197	41	significantly	significantly	ADV
ejpam-799	197	42	positive	positive	ADJ
ejpam-799	197	43	(	(	PUNCT
ejpam-799	197	44	negative	negative	ADJ
ejpam-799	197	45	)	)	PUNCT
ejpam-799	197	46	when	when	SCONJ
ejpam-799	197	47	the	the	DET
ejpam-799	197	48	u.s	u.s	PROPN
ejpam-799	197	49	.	.	PROPN
ejpam-799	197	50	dollar	dollar	PROPN
ejpam-799	197	51	exchange	exchange	NOUN
ejpam-799	197	52	rate	rate	NOUN
ejpam-799	197	53	persistently	persistently	ADV
ejpam-799	197	54	appreciates	appreciate	VERB
ejpam-799	197	55	(	(	PUNCT
ejpam-799	197	56	depreciates	depreciate	NOUN
ejpam-799	197	57	)	)	PUNCT
ejpam-799	197	58	,	,	PUNCT
ejpam-799	197	59	which	which	PRON
ejpam-799	197	60	is	be	AUX
ejpam-799	197	61	equivalent	equivalent	ADJ
ejpam-799	197	62	to	to	ADP
ejpam-799	197	63	having	have	VERB
ejpam-799	197	64	a	a	DET
ejpam-799	197	65	positive	positive	ADJ
ejpam-799	197	66	(	(	PUNCT
ejpam-799	197	67	negative	negative	ADJ
ejpam-799	197	68	)	)	PUNCT
ejpam-799	197	69	drift	drift	NOUN
ejpam-799	197	70	term	term	NOUN
ejpam-799	197	71	.	.	PUNCT
ejpam-799	198	1	table	table	NOUN
ejpam-799	198	2	2	2	NUM
ejpam-799	198	3	:	:	PUNCT
ejpam-799	198	4	t	t	NOUN
ejpam-799	198	5	-	-	PUNCT
ejpam-799	198	6	values	value	NOUN
ejpam-799	198	7	and	and	CCONJ
ejpam-799	198	8	f−values	f−value	NOUN
ejpam-799	198	9	based	base	VERB
ejpam-799	198	10	on	on	ADP
ejpam-799	198	11	hac	hac	X
ejpam-799	198	12	standard	standard	ADJ
ejpam-799	198	13	errors	error	NOUN
ejpam-799	198	14	h0	h0	NOUN
ejpam-799	198	15	can	can	AUX
ejpam-799	198	16	dm	dm	AUX
ejpam-799	198	17	szf	szf	NOUN
ejpam-799	198	18	itl	itl	PROPN
ejpam-799	198	19	µ1	µ1	PROPN
ejpam-799	198	20	=	=	PROPN
ejpam-799	198	21	µ2	µ2	PROPN
ejpam-799	198	22	3.515	3.515	NUM
ejpam-799	198	23	-3.680	-3.680	PUNCT
ejpam-799	198	24	-3.593	-3.593	PUNCT
ejpam-799	199	1	-2.611	-2.611	PUNCT
ejpam-799	199	2	µ2	µ2	NOUN
ejpam-799	199	3	=	=	PUNCT
ejpam-799	199	4	µ3	µ3	NOUN
ejpam-799	199	5	-3.399	-3.399	NOUN
ejpam-799	199	6	4.470	4.470	NUM
ejpam-799	199	7	4.115	4.115	NUM
ejpam-799	199	8	4.813	4.813	NUM
ejpam-799	199	9	µ3	µ3	NOUN
ejpam-799	199	10	=	=	SYM
ejpam-799	199	11	µ4	µ4	PROPN
ejpam-799	199	12	2.587	2.587	NUM
ejpam-799	199	13	-3.304	-3.304	X
ejpam-799	199	14	-3.256	-3.256	X
ejpam-799	199	15	-3.098	-3.098	PUNCT
ejpam-799	199	16	µ1	µ1	NOUN
ejpam-799	199	17	=	=	SYM
ejpam-799	199	18	µ2	µ2	PROPN
ejpam-799	199	19	=	=	PUNCT
ejpam-799	199	20	µ3	µ3	NOUN
ejpam-799	199	21	=	=	SYM
ejpam-799	199	22	µ4	µ4	PROPN
ejpam-799	199	23	8.561	8.561	NUM
ejpam-799	199	24	9.801	9.801	NUM
ejpam-799	199	25	10.068	10.068	NUM
ejpam-799	199	26	9.152	9.152	NUM
ejpam-799	199	27	lo	lo	NOUN
ejpam-799	199	28	and	and	CCONJ
ejpam-799	199	29	mackinlay	mackinlay	NOUN
ejpam-799	199	30	[	[	X
ejpam-799	199	31	11	11	NUM
ejpam-799	199	32	]	]	PUNCT
ejpam-799	199	33	examined	examine	VERB
ejpam-799	199	34	the	the	DET
ejpam-799	199	35	size	size	NOUN
ejpam-799	199	36	and	and	CCONJ
ejpam-799	199	37	power	power	NOUN
ejpam-799	199	38	properties	property	NOUN
ejpam-799	199	39	of	of	ADP
ejpam-799	199	40	the	the	DET
ejpam-799	199	41	standard	standard	ADJ
ejpam-799	199	42	variance	variance	NOUN
ejpam-799	199	43	ratio	ratio	NOUN
ejpam-799	199	44	tests	test	NOUN
ejpam-799	199	45	for	for	ADP
ejpam-799	199	46	the	the	DET
ejpam-799	199	47	random	random	ADJ
ejpam-799	199	48	walk	walk	NOUN
ejpam-799	199	49	hypothesis	hypothesis	NOUN
ejpam-799	199	50	via	via	ADP
ejpam-799	199	51	monte	monte	PROPN
ejpam-799	199	52	carlo	carlo	PROPN
ejpam-799	199	53	simulations	simulation	NOUN
ejpam-799	199	54	and	and	CCONJ
ejpam-799	199	55	found	find	VERB
ejpam-799	199	56	that	that	SCONJ
ejpam-799	199	57	the	the	DET
ejpam-799	199	58	empirical	empirical	ADJ
ejpam-799	199	59	size	size	NOUN
ejpam-799	199	60	of	of	ADP
ejpam-799	199	61	the	the	DET
ejpam-799	199	62	variance	variance	NOUN
ejpam-799	199	63	ratio	ratio	NOUN
ejpam-799	199	64	test	test	NOUN
ejpam-799	199	65	is	be	AUX
ejpam-799	199	66	close	close	ADJ
ejpam-799	199	67	to	to	ADP
ejpam-799	199	68	its	its	PRON
ejpam-799	199	69	nominal	nominal	ADJ
ejpam-799	199	70	value	value	NOUN
ejpam-799	199	71	under	under	ADP
ejpam-799	199	72	the	the	DET
ejpam-799	199	73	null	null	ADJ
ejpam-799	199	74	hypothesis	hypothesis	NOUN
ejpam-799	199	75	with	with	ADP
ejpam-799	199	76	independent	independent	ADJ
ejpam-799	199	77	and	and	CCONJ
ejpam-799	199	78	identically	identically	ADV
ejpam-799	199	79	distributed	distribute	VERB
ejpam-799	199	80	gaussian	gaussian	ADJ
ejpam-799	199	81	errors	error	NOUN
ejpam-799	199	82	as	as	ADV
ejpam-799	199	83	well	well	ADV
ejpam-799	199	84	as	as	ADP
ejpam-799	199	85	with	with	ADP
ejpam-799	199	86	heteroscedastic	heteroscedastic	ADJ
ejpam-799	199	87	increments	increment	NOUN
ejpam-799	199	88	for	for	ADP
ejpam-799	199	89	sample	sample	NOUN
ejpam-799	199	90	sizes	size	NOUN
ejpam-799	199	91	that	that	PRON
ejpam-799	199	92	are	be	AUX
ejpam-799	199	93	greater	great	ADJ
ejpam-799	199	94	than	than	ADP
ejpam-799	199	95	32	32	NUM
ejpam-799	199	96	.	.	PUNCT
ejpam-799	200	1	but	but	CCONJ
ejpam-799	200	2	,	,	PUNCT
ejpam-799	200	3	when	when	SCONJ
ejpam-799	200	4	the	the	DET
ejpam-799	200	5	holding	hold	VERB
ejpam-799	200	6	period	period	NOUN
ejpam-799	200	7	q	q	NOUN
ejpam-799	200	8	increases	increase	NOUN
ejpam-799	200	9	relative	relative	ADJ
ejpam-799	200	10	to	to	ADP
ejpam-799	200	11	the	the	DET
ejpam-799	200	12	sample	sample	NOUN
ejpam-799	200	13	size	size	NOUN
ejpam-799	200	14	,	,	PUNCT
ejpam-799	200	15	it	it	PRON
ejpam-799	200	16	was	be	AUX
ejpam-799	200	17	also	also	ADV
ejpam-799	200	18	found	find	VERB
ejpam-799	200	19	that	that	SCONJ
ejpam-799	200	20	the	the	DET
ejpam-799	200	21	sampling	sample	VERB
ejpam-799	200	22	distribution	distribution	NOUN
ejpam-799	200	23	of	of	ADP
ejpam-799	200	24	the	the	DET
ejpam-799	200	25	standard	standard	ADJ
ejpam-799	200	26	variance	variance	NOUN
ejpam-799	200	27	ratio	ratio	NOUN
ejpam-799	200	28	tests	test	NOUN
ejpam-799	200	29	deviates	deviate	VERB
ejpam-799	200	30	significantly	significantly	ADV
ejpam-799	200	31	from	from	ADP
ejpam-799	200	32	the	the	DET
ejpam-799	200	33	asymptotic	asymptotic	ADJ
ejpam-799	200	34	standard	standard	ADJ
ejpam-799	200	35	normal	normal	ADJ
ejpam-799	200	36	distribution	distribution	NOUN
ejpam-799	200	37	.	.	PUNCT
ejpam-799	201	1	fong	fong	PROPN
ejpam-799	201	2	et	et	PROPN
ejpam-799	201	3	al	al	PROPN
ejpam-799	201	4	.	.	PUNCT
ejpam-799	202	1	[	[	X
ejpam-799	202	2	6	6	NUM
ejpam-799	202	3	]	]	PUNCT
ejpam-799	202	4	also	also	ADV
ejpam-799	202	5	conducted	conduct	VERB
ejpam-799	202	6	a	a	DET
ejpam-799	202	7	simulation	simulation	NOUN
ejpam-799	202	8	study	study	NOUN
ejpam-799	202	9	,	,	PUNCT
ejpam-799	202	10	suggesting	suggest	VERB
ejpam-799	202	11	a	a	DET
ejpam-799	202	12	reasonable	reasonable	ADJ
ejpam-799	202	13	range	range	NOUN
ejpam-799	202	14	of	of	ADP
ejpam-799	202	15	q	q	NOUN
ejpam-799	202	16	for	for	ADP
ejpam-799	202	17	a	a	DET
ejpam-799	202	18	given	give	VERB
ejpam-799	202	19	value	value	NOUN
ejpam-799	202	20	of	of	ADP
ejpam-799	202	21	t	t	PROPN
ejpam-799	202	22	.	.	PUNCT
ejpam-799	203	1	taking	take	VERB
ejpam-799	203	2	into	into	ADP
ejpam-799	203	3	account	account	NOUN
ejpam-799	203	4	these	these	DET
ejpam-799	203	5	results	result	NOUN
ejpam-799	203	6	in	in	ADP
ejpam-799	203	7	previous	previous	ADJ
ejpam-799	203	8	research	research	NOUN
ejpam-799	203	9	,	,	PUNCT
ejpam-799	203	10	we	we	PRON
ejpam-799	203	11	take	take	VERB
ejpam-799	203	12	a	a	DET
ejpam-799	203	13	conservative	conservative	ADJ
ejpam-799	203	14	approach	approach	NOUN
ejpam-799	203	15	by	by	ADP
ejpam-799	203	16	using	use	VERB
ejpam-799	203	17	q	q	PROPN
ejpam-799	203	18	=	=	SYM
ejpam-799	203	19	3,4,8	3,4,8	NUM
ejpam-799	203	20	and	and	CCONJ
ejpam-799	203	21	16	16	NUM
ejpam-799	203	22	,	,	PUNCT
ejpam-799	203	23	given	give	VERB
ejpam-799	203	24	that	that	SCONJ
ejpam-799	203	25	we	we	PRON
ejpam-799	203	26	have	have	AUX
ejpam-799	203	27	1554	1554	NUM
ejpam-799	203	28	return	return	NOUN
ejpam-799	203	29	observations	observation	NOUN
ejpam-799	203	30	for	for	ADP
ejpam-799	203	31	can	can	AUX
ejpam-799	203	32	and	and	CCONJ
ejpam-799	203	33	szf	szf	NOUN
ejpam-799	203	34	and	and	CCONJ
ejpam-799	203	35	1303	1303	NUM
ejpam-799	203	36	return	return	NOUN
ejpam-799	203	37	observations	observation	NOUN
ejpam-799	203	38	for	for	ADP
ejpam-799	203	39	dm	dm	PROPN
ejpam-799	203	40	and	and	CCONJ
ejpam-799	203	41	itl	itl	PROPN
ejpam-799	203	42	.	.	PUNCT
ejpam-799	204	1	first	first	ADV
ejpam-799	204	2	,	,	PUNCT
ejpam-799	204	3	we	we	PRON
ejpam-799	204	4	apply	apply	VERB
ejpam-799	204	5	the	the	DET
ejpam-799	204	6	z(q	z(q	PROPN
ejpam-799	204	7	)	)	PUNCT
ejpam-799	204	8	test	test	NOUN
ejpam-799	204	9	to	to	ADP
ejpam-799	204	10	the	the	DET
ejpam-799	204	11	four	four	NUM
ejpam-799	204	12	exchange	exchange	NOUN
ejpam-799	204	13	rates	rate	NOUN
ejpam-799	204	14	at	at	ADP
ejpam-799	204	15	10	10	NUM
ejpam-799	204	16	%	%	NOUN
ejpam-799	204	17	and	and	CCONJ
ejpam-799	204	18	5	5	NUM
ejpam-799	204	19	%	%	NOUN
ejpam-799	204	20	significance	significance	NOUN
ejpam-799	204	21	levels	level	NOUN
ejpam-799	204	22	,	,	PUNCT
ejpam-799	204	23	assuming	assume	VERB
ejpam-799	204	24	that	that	SCONJ
ejpam-799	204	25	there	there	PRON
ejpam-799	204	26	is	be	VERB
ejpam-799	204	27	no	no	DET
ejpam-799	204	28	heteroscedasticity	heteroscedasticity	NOUN
ejpam-799	204	29	in	in	ADP
ejpam-799	204	30	the	the	DET
ejpam-799	204	31	error	error	NOUN
ejpam-799	204	32	term	term	NOUN
ejpam-799	204	33	.	.	PUNCT
ejpam-799	205	1	the	the	DET
ejpam-799	205	2	testing	testing	NOUN
ejpam-799	205	3	results	result	NOUN
ejpam-799	205	4	are	be	AUX
ejpam-799	205	5	displayed	display	VERB
ejpam-799	205	6	in	in	ADP
ejpam-799	205	7	table	table	NOUN
ejpam-799	205	8	3	3	NUM
ejpam-799	205	9	.	.	PUNCT
ejpam-799	206	1	the	the	DET
ejpam-799	206	2	evidence	evidence	NOUN
ejpam-799	206	3	from	from	ADP
ejpam-799	206	4	the	the	DET
ejpam-799	206	5	data	data	NOUN
ejpam-799	206	6	points	point	NOUN
ejpam-799	206	7	strongly	strongly	ADV
ejpam-799	206	8	against	against	ADP
ejpam-799	206	9	the	the	DET
ejpam-799	206	10	random	random	ADJ
ejpam-799	206	11	walk	walk	NOUN
ejpam-799	206	12	hypothesis	hypothesis	NOUN
ejpam-799	206	13	;	;	PUNCT
ejpam-799	206	14	the	the	DET
ejpam-799	206	15	null	null	NOUN
ejpam-799	206	16	is	be	AUX
ejpam-799	206	17	rejected	reject	VERB
ejpam-799	206	18	for	for	ADP
ejpam-799	206	19	q	q	NOUN
ejpam-799	206	20	=	=	NOUN
ejpam-799	206	21	3,4	3,4	NUM
ejpam-799	206	22	in	in	ADP
ejpam-799	206	23	can	can	AUX
ejpam-799	206	24	,	,	PUNCT
ejpam-799	206	25	for	for	ADP
ejpam-799	206	26	q	q	NOUN
ejpam-799	206	27	=	=	SYM
ejpam-799	206	28	3,4,16	3,4,16	NUM
ejpam-799	206	29	in	in	ADP
ejpam-799	206	30	szf	szf	NOUN
ejpam-799	206	31	,	,	PUNCT
ejpam-799	206	32	and	and	CCONJ
ejpam-799	206	33	for	for	ADP
ejpam-799	206	34	all	all	DET
ejpam-799	206	35	values	value	NOUN
ejpam-799	206	36	of	of	ADP
ejpam-799	206	37	q	q	NOUN
ejpam-799	206	38	in	in	ADP
ejpam-799	206	39	both	both	DET
ejpam-799	206	40	dm	dm	PROPN
ejpam-799	206	41	and	and	CCONJ
ejpam-799	206	42	itl	itl	PROPN
ejpam-799	206	43	.	.	PUNCT
ejpam-799	207	1	next	next	ADV
ejpam-799	207	2	,	,	PUNCT
ejpam-799	207	3	we	we	PRON
ejpam-799	207	4	apply	apply	VERB
ejpam-799	207	5	our	our	PRON
ejpam-799	207	6	modified	modified	ADJ
ejpam-799	207	7	version	version	NOUN
ejpam-799	207	8	zm(q	zm(q	NUM
ejpam-799	207	9	)	)	PUNCT
ejpam-799	207	10	,	,	PUNCT
ejpam-799	207	11	calculated	calculate	VERB
ejpam-799	207	12	through	through	ADP
ejpam-799	207	13	the	the	DET
ejpam-799	207	14	auxiliary	auxiliary	ADJ
ejpam-799	207	15	ls	ls	ADJ
ejpam-799	207	16	regression	regression	NOUN
ejpam-799	207	17	in	in	ADP
ejpam-799	207	18	(	(	PUNCT
ejpam-799	207	19	7	7	NUM
ejpam-799	207	20	)	)	PUNCT
ejpam-799	207	21	,	,	PUNCT
ejpam-799	207	22	for	for	ADP
ejpam-799	207	23	which	which	PRON
ejpam-799	207	24	the	the	DET
ejpam-799	207	25	exact	exact	ADJ
ejpam-799	207	26	dates	date	VERB
ejpam-799	207	27	for	for	ADP
ejpam-799	207	28	τ1,τ2	τ1,τ2	PROPN
ejpam-799	207	29	and	and	CCONJ
ejpam-799	207	30	τ3	τ3	NOUN
ejpam-799	207	31	have	have	AUX
ejpam-799	207	32	already	already	ADV
ejpam-799	207	33	been	be	AUX
ejpam-799	207	34	specified	specify	VERB
ejpam-799	207	35	y.	y.	PROPN
ejpam-799	207	36	kim	kim	PROPN
ejpam-799	207	37	and	and	CCONJ
ejpam-799	207	38	t.	t.	PROPN
ejpam-799	207	39	kim	kim	PROPN
ejpam-799	207	40	/	/	SYM
ejpam-799	207	41	eur	eur	PROPN
ejpam-799	207	42	.	.	PUNCT
ejpam-799	208	1	j.	j.	PROPN
ejpam-799	208	2	pure	pure	PROPN
ejpam-799	208	3	appl	appl	PROPN
ejpam-799	208	4	.	.	PROPN
ejpam-799	208	5	math	math	PROPN
ejpam-799	208	6	,	,	PUNCT
ejpam-799	208	7	3	3	NUM
ejpam-799	208	8	(	(	PUNCT
ejpam-799	208	9	2010	2010	NUM
ejpam-799	208	10	)	)	PUNCT
ejpam-799	208	11	,	,	PUNCT
ejpam-799	208	12	502	502	NUM
ejpam-799	208	13	-	-	SYM
ejpam-799	208	14	518	518	NUM
ejpam-799	208	15	512	512	NUM
ejpam-799	208	16	table	table	NOUN
ejpam-799	208	17	3	3	NUM
ejpam-799	208	18	:	:	PUNCT
ejpam-799	208	19	variance	variance	NOUN
ejpam-799	208	20	ratio	ratio	NOUN
ejpam-799	208	21	test	test	NOUN
ejpam-799	208	22	results	result	NOUN
ejpam-799	208	23	using	use	VERB
ejpam-799	208	24	z	z	PROPN
ejpam-799	208	25	�	�	PROPN
ejpam-799	208	26	q	q	PROPN
ejpam-799	208	27	�	�	PROPN
ejpam-799	208	28	and	and	CCONJ
ejpam-799	208	29	zm	zm	PROPN
ejpam-799	208	30	�	�	PROPN
ejpam-799	208	31	q	q	PROPN
ejpam-799	208	32	�	�	PROPN
ejpam-799	208	33	§	§	PROPN
ejpam-799	208	34	q	q	PROPN
ejpam-799	209	1	3	3	NUM
ejpam-799	209	2	4	4	NUM
ejpam-799	209	3	8	8	NUM
ejpam-799	209	4	16	16	NUM
ejpam-799	209	5	can	can	AUX
ejpam-799	209	6	z	z	PROPN
ejpam-799	209	7	�	�	PROPN
ejpam-799	209	8	q	q	PROPN
ejpam-799	209	9	�	�	PROPN
ejpam-799	209	10	zm	zm	PROPN
ejpam-799	209	11	�	�	PROPN
ejpam-799	209	12	q	q	PROPN
ejpam-799	209	13	�	�	PROPN
ejpam-799	209	14	2.574a	2.574a	PROPN
ejpam-799	209	15	1.849b	1.849b	PROPN
ejpam-799	209	16	1.874b	1.874b	NUM
ejpam-799	209	17	1.0034	1.0034	NUM
ejpam-799	209	18	0.979	0.979	NUM
ejpam-799	209	19	-0.244	-0.244	NUM
ejpam-799	209	20	0.307	0.307	NUM
ejpam-799	209	21	-1.399	-1.399	NOUN
ejpam-799	209	22	dm	dm	PROPN
ejpam-799	209	23	z	z	PROPN
ejpam-799	209	24	�	�	PROPN
ejpam-799	209	25	q	q	PROPN
ejpam-799	209	26	�	�	PROPN
ejpam-799	209	27	zm	zm	PROPN
ejpam-799	209	28	�	�	PROPN
ejpam-799	209	29	q	q	PROPN
ejpam-799	209	30	�	�	PROPN
ejpam-799	209	31	2.132a	2.132a	NUM
ejpam-799	209	32	1.166	1.166	NUM
ejpam-799	209	33	2.032a	2.032a	NUM
ejpam-799	209	34	0.886	0.886	NUM
ejpam-799	209	35	2.067a	2.067a	NUM
ejpam-799	209	36	0.469	0.469	NUM
ejpam-799	209	37	2.278a	2.278a	NUM
ejpam-799	209	38	0.164	0.164	NUM
ejpam-799	209	39	szf	szf	NOUN
ejpam-799	209	40	z	z	PROPN
ejpam-799	209	41	�	�	PROPN
ejpam-799	209	42	q	q	PROPN
ejpam-799	209	43	�	�	PROPN
ejpam-799	209	44	zm	zm	PROPN
ejpam-799	209	45	�	�	PROPN
ejpam-799	209	46	q	q	PROPN
ejpam-799	209	47	�	�	PROPN
ejpam-799	209	48	1.801b	1.801b	PROPN
ejpam-799	209	49	0.991	0.991	NUM
ejpam-799	209	50	1.834b	1.834b	NUM
ejpam-799	209	51	0.877	0.877	NUM
ejpam-799	209	52	2.383a	2.383a	NUM
ejpam-799	209	53	1.075	1.075	NUM
ejpam-799	209	54	2.561a	2.561a	NUM
ejpam-799	209	55	0.893	0.893	NUM
ejpam-799	209	56	itl	itl	PROPN
ejpam-799	209	57	z	z	PROPN
ejpam-799	209	58	�	�	PROPN
ejpam-799	209	59	q	q	PROPN
ejpam-799	209	60	�	�	PROPN
ejpam-799	209	61	zm	zm	PROPN
ejpam-799	209	62	�	�	PROPN
ejpam-799	209	63	q	q	PROPN
ejpam-799	209	64	�	�	PROPN
ejpam-799	209	65	1.443	1.443	NUM
ejpam-799	209	66	0.530	0.530	NUM
ejpam-799	209	67	1.846b	1.846b	NUM
ejpam-799	209	68	0.775	0.775	NUM
ejpam-799	209	69	2.560a	2.560a	NUM
ejpam-799	209	70	1.055	1.055	NUM
ejpam-799	209	71	3.055a	3.055a	NOUN
ejpam-799	209	72	1.002	1.002	NUM
ejpam-799	209	73	above	above	ADV
ejpam-799	209	74	.	.	PUNCT
ejpam-799	210	1	the	the	DET
ejpam-799	210	2	results	result	NOUN
ejpam-799	210	3	are	be	AUX
ejpam-799	210	4	also	also	ADV
ejpam-799	210	5	in	in	ADP
ejpam-799	210	6	table	table	NOUN
ejpam-799	210	7	3	3	NUM
ejpam-799	210	8	,	,	PUNCT
ejpam-799	210	9	which	which	PRON
ejpam-799	210	10	shows	show	VERB
ejpam-799	210	11	that	that	SCONJ
ejpam-799	210	12	(	(	PUNCT
ejpam-799	210	13	i	i	NOUN
ejpam-799	210	14	)	)	PUNCT
ejpam-799	210	15	all	all	DET
ejpam-799	210	16	the	the	DET
ejpam-799	210	17	modified	modify	VERB
ejpam-799	210	18	test	test	NOUN
ejpam-799	210	19	statistics	statistic	NOUN
ejpam-799	210	20	become	become	VERB
ejpam-799	210	21	much	much	ADV
ejpam-799	210	22	smaller	small	ADJ
ejpam-799	210	23	than	than	ADP
ejpam-799	210	24	the	the	DET
ejpam-799	210	25	unmodified	unmodified	ADJ
ejpam-799	210	26	ones	one	NOUN
ejpam-799	210	27	,	,	PUNCT
ejpam-799	210	28	and	and	CCONJ
ejpam-799	210	29	(	(	PUNCT
ejpam-799	210	30	ii	ii	NOUN
ejpam-799	210	31	)	)	PUNCT
ejpam-799	210	32	we	we	PRON
ejpam-799	210	33	fail	fail	VERB
ejpam-799	210	34	to	to	PART
ejpam-799	210	35	reject	reject	VERB
ejpam-799	210	36	the	the	DET
ejpam-799	210	37	random	random	ADJ
ejpam-799	210	38	walk	walk	NOUN
ejpam-799	210	39	hypothesis	hypothesis	NOUN
ejpam-799	210	40	in	in	ADP
ejpam-799	210	41	all	all	DET
ejpam-799	210	42	series	series	NOUN
ejpam-799	210	43	but	but	CCONJ
ejpam-799	210	44	can	can	AUX
ejpam-799	210	45	.	.	PUNCT
ejpam-799	211	1	even	even	ADV
ejpam-799	211	2	in	in	ADP
ejpam-799	211	3	that	that	DET
ejpam-799	211	4	case	case	NOUN
ejpam-799	211	5	,	,	PUNCT
ejpam-799	211	6	we	we	PRON
ejpam-799	211	7	reject	reject	VERB
ejpam-799	211	8	the	the	DET
ejpam-799	211	9	null	null	NOUN
ejpam-799	211	10	at	at	ADP
ejpam-799	211	11	the	the	DET
ejpam-799	211	12	10	10	NUM
ejpam-799	211	13	%	%	NOUN
ejpam-799	211	14	significance	significance	NOUN
ejpam-799	211	15	level	level	NOUN
ejpam-799	211	16	,	,	PUNCT
ejpam-799	211	17	only	only	ADV
ejpam-799	211	18	when	when	SCONJ
ejpam-799	211	19	q	q	NOUN
ejpam-799	211	20	=	=	NOUN
ejpam-799	211	21	3	3	X
ejpam-799	211	22	.	.	PUNCT
ejpam-799	212	1	the	the	DET
ejpam-799	212	2	strong	strong	ADJ
ejpam-799	212	3	evidence	evidence	NOUN
ejpam-799	212	4	against	against	ADP
ejpam-799	212	5	the	the	DET
ejpam-799	212	6	random	random	ADJ
ejpam-799	212	7	walk	walk	NOUN
ejpam-799	212	8	hypothesis	hypothesis	NOUN
ejpam-799	212	9	by	by	ADP
ejpam-799	212	10	the	the	DET
ejpam-799	212	11	z(q	z(q	PROPN
ejpam-799	212	12	)	)	PUNCT
ejpam-799	212	13	test	test	NOUN
ejpam-799	212	14	might	might	AUX
ejpam-799	212	15	have	have	AUX
ejpam-799	212	16	been	be	AUX
ejpam-799	212	17	caused	cause	VERB
ejpam-799	212	18	by	by	ADP
ejpam-799	212	19	the	the	DET
ejpam-799	212	20	possible	possible	ADJ
ejpam-799	212	21	presence	presence	NOUN
ejpam-799	212	22	of	of	ADP
ejpam-799	212	23	heteroscedasticity	heteroscedasticity	NOUN
ejpam-799	212	24	in	in	ADP
ejpam-799	212	25	the	the	DET
ejpam-799	212	26	considered	considered	ADJ
ejpam-799	212	27	exchange	exchange	NOUN
ejpam-799	212	28	rates	rate	NOUN
ejpam-799	212	29	.	.	PUNCT
ejpam-799	213	1	hence	hence	ADV
ejpam-799	213	2	,	,	PUNCT
ejpam-799	213	3	we	we	PRON
ejpam-799	213	4	also	also	ADV
ejpam-799	213	5	apply	apply	VERB
ejpam-799	213	6	the	the	DET
ejpam-799	213	7	heteroscedasticity	heteroscedasticity	NOUN
ejpam-799	213	8	-	-	PUNCT
ejpam-799	213	9	consistent	consistent	ADJ
ejpam-799	213	10	variance	variance	NOUN
ejpam-799	213	11	ratio	ratio	NOUN
ejpam-799	213	12	test	test	NOUN
ejpam-799	213	13	statistic	statistic	PROPN
ejpam-799	213	14	z∗(q	z∗(q	PROPN
ejpam-799	213	15	)	)	PUNCT
ejpam-799	213	16	,	,	PUNCT
ejpam-799	213	17	the	the	DET
ejpam-799	213	18	results	result	NOUN
ejpam-799	213	19	of	of	ADP
ejpam-799	213	20	which	which	PRON
ejpam-799	213	21	are	be	AUX
ejpam-799	213	22	in	in	ADP
ejpam-799	213	23	table	table	NOUN
ejpam-799	213	24	4	4	NUM
ejpam-799	213	25	.	.	PUNCT
ejpam-799	213	26	table	table	NOUN
ejpam-799	213	27	4	4	NUM
ejpam-799	213	28	indicates	indicate	VERB
ejpam-799	213	29	that	that	SCONJ
ejpam-799	213	30	heteroscedasticity	heteroscedasticity	NOUN
ejpam-799	213	31	must	must	AUX
ejpam-799	213	32	have	have	AUX
ejpam-799	213	33	played	play	VERB
ejpam-799	213	34	a	a	DET
ejpam-799	213	35	role	role	NOUN
ejpam-799	213	36	because	because	SCONJ
ejpam-799	213	37	we	we	PRON
ejpam-799	213	38	now	now	ADV
ejpam-799	213	39	have	have	VERB
ejpam-799	213	40	a	a	DET
ejpam-799	213	41	much	much	ADV
ejpam-799	213	42	smaller	small	ADJ
ejpam-799	213	43	number	number	NOUN
ejpam-799	213	44	of	of	ADP
ejpam-799	213	45	rejections	rejection	NOUN
ejpam-799	213	46	of	of	ADP
ejpam-799	213	47	the	the	DET
ejpam-799	213	48	random	random	ADJ
ejpam-799	213	49	walk	walk	NOUN
ejpam-799	213	50	hypothesis	hypothesis	NOUN
ejpam-799	213	51	,	,	PUNCT
ejpam-799	213	52	when	when	SCONJ
ejpam-799	213	53	compared	compare	VERB
ejpam-799	213	54	to	to	ADP
ejpam-799	213	55	the	the	DET
ejpam-799	213	56	z(q	z(q	PROPN
ejpam-799	213	57	)	)	PUNCT
ejpam-799	213	58	test	test	NOUN
ejpam-799	213	59	;	;	PUNCT
ejpam-799	213	60	the	the	DET
ejpam-799	213	61	null	null	NOUN
ejpam-799	213	62	is	be	AUX
ejpam-799	213	63	rejected	reject	VERB
ejpam-799	213	64	for	for	ADP
ejpam-799	213	65	q	q	NOUN
ejpam-799	213	66	=	=	SYM
ejpam-799	213	67	3	3	NUM
ejpam-799	213	68	in	in	ADP
ejpam-799	213	69	can	can	AUX
ejpam-799	213	70	,	,	PUNCT
ejpam-799	213	71	for	for	ADP
ejpam-799	213	72	q	q	NOUN
ejpam-799	213	73	=	=	SYM
ejpam-799	213	74	8,16	8,16	NOUN
ejpam-799	213	75	in	in	ADP
ejpam-799	213	76	szf	szf	NOUN
ejpam-799	213	77	,	,	PUNCT
ejpam-799	213	78	for	for	ADP
ejpam-799	213	79	q	q	NOUN
ejpam-799	214	1	=	=	SYM
ejpam-799	214	2	8,16	8,16	NOUN
ejpam-799	214	3	in	in	ADP
ejpam-799	214	4	itl	itl	NOUN
ejpam-799	214	5	,	,	PUNCT
ejpam-799	214	6	and	and	CCONJ
ejpam-799	214	7	for	for	ADP
ejpam-799	214	8	all	all	DET
ejpam-799	214	9	values	value	NOUN
ejpam-799	214	10	of	of	ADP
ejpam-799	214	11	q	q	NOUN
ejpam-799	214	12	in	in	ADP
ejpam-799	214	13	dm	dm	PROPN
ejpam-799	214	14	.	.	PUNCT
ejpam-799	215	1	the	the	DET
ejpam-799	215	2	evidence	evidence	NOUN
ejpam-799	215	3	has	have	AUX
ejpam-799	215	4	been	be	AUX
ejpam-799	215	5	much	much	ADV
ejpam-799	215	6	weakened	weaken	VERB
ejpam-799	215	7	,	,	PUNCT
ejpam-799	215	8	but	but	CCONJ
ejpam-799	215	9	we	we	PRON
ejpam-799	215	10	still	still	ADV
ejpam-799	215	11	reject	reject	VERB
ejpam-799	215	12	the	the	DET
ejpam-799	215	13	null	null	NOUN
ejpam-799	215	14	for	for	ADP
ejpam-799	215	15	all	all	DET
ejpam-799	215	16	countries	country	NOUN
ejpam-799	215	17	.	.	PUNCT
ejpam-799	216	1	finally	finally	ADV
ejpam-799	216	2	,	,	PUNCT
ejpam-799	216	3	we	we	PRON
ejpam-799	216	4	apply	apply	VERB
ejpam-799	216	5	our	our	PRON
ejpam-799	216	6	modified	modify	VERB
ejpam-799	216	7	z∗m(q	z∗m(q	NOUN
ejpam-799	216	8	)	)	PUNCT
ejpam-799	216	9	test	test	NOUN
ejpam-799	216	10	taking	take	VERB
ejpam-799	216	11	into	into	ADP
ejpam-799	216	12	account	account	NOUN
ejpam-799	216	13	both	both	PRON
ejpam-799	216	14	heteroscedasticity	heteroscedasticity	NOUN
ejpam-799	216	15	and	and	CCONJ
ejpam-799	216	16	structural	structural	ADJ
ejpam-799	216	17	breaks	break	NOUN
ejpam-799	216	18	in	in	ADP
ejpam-799	216	19	drift	drift	NOUN
ejpam-799	216	20	.	.	PUNCT
ejpam-799	217	1	table	table	NOUN
ejpam-799	217	2	4	4	NUM
ejpam-799	217	3	shows	show	VERB
ejpam-799	217	4	that	that	SCONJ
ejpam-799	217	5	the	the	DET
ejpam-799	217	6	random	random	ADJ
ejpam-799	217	7	walk	walk	NOUN
ejpam-799	217	8	hypothesis	hypothesis	NOUN
ejpam-799	217	9	is	be	AUX
ejpam-799	217	10	not	not	PART
ejpam-799	217	11	rejected	reject	VERB
ejpam-799	217	12	in	in	ADP
ejpam-799	217	13	all	all	DET
ejpam-799	217	14	cases	case	NOUN
ejpam-799	217	15	.	.	PUNCT
ejpam-799	218	1	table	table	NOUN
ejpam-799	218	2	4	4	NUM
ejpam-799	218	3	:	:	PUNCT
ejpam-799	218	4	variance	variance	NOUN
ejpam-799	218	5	ratio	ratio	NOUN
ejpam-799	218	6	test	test	NOUN
ejpam-799	218	7	results	result	NOUN
ejpam-799	218	8	using	use	VERB
ejpam-799	218	9	z∗	z∗	PROPN
ejpam-799	218	10	�	�	PROPN
ejpam-799	218	11	q	q	PROPN
ejpam-799	218	12	�	�	PROPN
ejpam-799	218	13	and	and	CCONJ
ejpam-799	218	14	z∗m	z∗m	NUM
ejpam-799	218	15	�	�	PROPN
ejpam-799	218	16	q	q	PROPN
ejpam-799	218	17	�	�	PROPN
ejpam-799	218	18	¶	¶	PROPN
ejpam-799	218	19	q	q	PROPN
ejpam-799	218	20	3	3	NUM
ejpam-799	218	21	4	4	NUM
ejpam-799	218	22	8	8	NUM
ejpam-799	218	23	16	16	NUM
ejpam-799	218	24	can	can	AUX
ejpam-799	218	25	z∗	z∗	PROPN
ejpam-799	218	26	�	�	PROPN
ejpam-799	218	27	q	q	PROPN
ejpam-799	218	28	�	�	PROPN
ejpam-799	218	29	z∗m	z∗m	NUM
ejpam-799	218	30	�	�	PROPN
ejpam-799	218	31	q	q	PROPN
ejpam-799	218	32	�	�	PROPN
ejpam-799	218	33	1.961a	1.961a	NUM
ejpam-799	218	34	1.423	1.423	NUM
ejpam-799	218	35	1.447	1.447	NUM
ejpam-799	218	36	0.783	0.783	NUM
ejpam-799	218	37	0.780	0.780	NUM
ejpam-799	218	38	-0.197	-0.197	NUM
ejpam-799	218	39	0.253	0.253	NUM
ejpam-799	218	40	-1.164	-1.164	NOUN
ejpam-799	218	41	dm	dm	PROPN
ejpam-799	218	42	z∗	z∗	PROPN
ejpam-799	218	43	�	�	PROPN
ejpam-799	218	44	q	q	PROPN
ejpam-799	218	45	�	�	PROPN
ejpam-799	218	46	z∗m	z∗m	NUM
ejpam-799	218	47	�	�	PROPN
ejpam-799	218	48	q	q	PROPN
ejpam-799	218	49	�	�	PROPN
ejpam-799	218	50	1.894b	1.894b	NUM
ejpam-799	218	51	1.037	1.037	NUM
ejpam-799	218	52	1.763b	1.763b	NUM
ejpam-799	218	53	0.766	0.766	NUM
ejpam-799	218	54	1.773b	1.773b	NUM
ejpam-799	218	55	0.400	0.400	NUM
ejpam-799	218	56	1.997a	1.997a	NUM
ejpam-799	218	57	0.143	0.143	NUM
ejpam-799	218	58	szf	szf	NOUN
ejpam-799	218	59	z∗	z∗	PROPN
ejpam-799	218	60	�	�	PROPN
ejpam-799	218	61	q	q	PROPN
ejpam-799	218	62	�	�	PROPN
ejpam-799	218	63	z∗m	z∗m	NUM
ejpam-799	218	64	�	�	PROPN
ejpam-799	218	65	q	q	PROPN
ejpam-799	218	66	�	�	PROPN
ejpam-799	218	67	1.632	1.632	NUM
ejpam-799	218	68	0.895	0.895	NUM
ejpam-799	218	69	1.642	1.642	NUM
ejpam-799	218	70	0.783	0.783	NUM
ejpam-799	218	71	2.107a	2.107a	NUM
ejpam-799	218	72	0.948	0.948	NUM
ejpam-799	218	73	2.228a	2.228a	NUM
ejpam-799	218	74	0.794	0.794	NUM
ejpam-799	218	75	itl	itl	PROPN
ejpam-799	218	76	z∗	z∗	PROPN
ejpam-799	218	77	�	�	PROPN
ejpam-799	218	78	q	q	PROPN
ejpam-799	218	79	�	�	PROPN
ejpam-799	218	80	z∗m	z∗m	NUM
ejpam-799	218	81	�	�	PROPN
ejpam-799	218	82	q	q	PROPN
ejpam-799	218	83	�	�	PROPN
ejpam-799	218	84	1.150	1.150	NUM
ejpam-799	218	85	0.420	0.420	NUM
ejpam-799	218	86	1.433	1.433	NUM
ejpam-799	218	87	0.598	0.598	NUM
ejpam-799	218	88	1.949b	1.949b	NUM
ejpam-799	218	89	0.797	0.797	NUM
ejpam-799	218	90	2.411a	2.411a	NUM
ejpam-799	218	91	0.786	0.786	NUM
ejpam-799	218	92	references	reference	NOUN
ejpam-799	218	93	513	513	NUM
ejpam-799	218	94	6	6	NUM
ejpam-799	218	95	.	.	PUNCT
ejpam-799	219	1	summary	summary	NOUN
ejpam-799	219	2	we	we	PRON
ejpam-799	219	3	have	have	AUX
ejpam-799	219	4	demonstrated	demonstrate	VERB
ejpam-799	219	5	that	that	SCONJ
ejpam-799	219	6	,	,	PUNCT
ejpam-799	219	7	if	if	SCONJ
ejpam-799	219	8	a	a	DET
ejpam-799	219	9	break	break	NOUN
ejpam-799	219	10	in	in	ADP
ejpam-799	219	11	drift	drift	NOUN
ejpam-799	219	12	is	be	AUX
ejpam-799	219	13	not	not	PART
ejpam-799	219	14	properly	properly	ADV
ejpam-799	219	15	taken	take	VERB
ejpam-799	219	16	into	into	ADP
ejpam-799	219	17	account	account	NOUN
ejpam-799	219	18	,	,	PUNCT
ejpam-799	219	19	then	then	ADV
ejpam-799	219	20	the	the	DET
ejpam-799	219	21	routine	routine	ADJ
ejpam-799	219	22	application	application	NOUN
ejpam-799	219	23	of	of	ADP
ejpam-799	219	24	the	the	DET
ejpam-799	219	25	variance	variance	NOUN
ejpam-799	219	26	ratio	ratio	NOUN
ejpam-799	219	27	test	test	NOUN
ejpam-799	219	28	can	can	AUX
ejpam-799	219	29	result	result	VERB
ejpam-799	219	30	in	in	ADP
ejpam-799	219	31	a	a	DET
ejpam-799	219	32	potentially	potentially	ADV
ejpam-799	219	33	large	large	ADJ
ejpam-799	219	34	size	size	NOUN
ejpam-799	219	35	distortion	distortion	NOUN
ejpam-799	219	36	rejecting	reject	VERB
ejpam-799	219	37	the	the	DET
ejpam-799	219	38	random	random	ADJ
ejpam-799	219	39	walk	walk	NOUN
ejpam-799	219	40	hypothesis	hypothesis	NOUN
ejpam-799	219	41	100	100	NUM
ejpam-799	219	42	%	%	NOUN
ejpam-799	219	43	of	of	ADP
ejpam-799	219	44	the	the	DET
ejpam-799	219	45	time	time	NOUN
ejpam-799	219	46	asymptotically	asymptotically	ADV
ejpam-799	219	47	even	even	ADV
ejpam-799	219	48	though	though	SCONJ
ejpam-799	219	49	the	the	DET
ejpam-799	219	50	process	process	NOUN
ejpam-799	219	51	is	be	AUX
ejpam-799	219	52	actually	actually	ADV
ejpam-799	219	53	a	a	DET
ejpam-799	219	54	random	random	ADJ
ejpam-799	219	55	walk	walk	NOUN
ejpam-799	219	56	.	.	PUNCT
ejpam-799	220	1	based	base	VERB
ejpam-799	220	2	on	on	ADP
ejpam-799	220	3	a	a	DET
ejpam-799	220	4	simple	simple	ADJ
ejpam-799	220	5	regression	regression	NOUN
ejpam-799	220	6	approach	approach	NOUN
ejpam-799	220	7	,	,	PUNCT
ejpam-799	220	8	we	we	PRON
ejpam-799	220	9	have	have	AUX
ejpam-799	220	10	proposed	propose	VERB
ejpam-799	220	11	a	a	DET
ejpam-799	220	12	modification	modification	NOUN
ejpam-799	220	13	of	of	ADP
ejpam-799	220	14	the	the	DET
ejpam-799	220	15	test	test	NOUN
ejpam-799	220	16	such	such	ADJ
ejpam-799	220	17	that	that	SCONJ
ejpam-799	220	18	the	the	DET
ejpam-799	220	19	size	size	NOUN
ejpam-799	220	20	of	of	ADP
ejpam-799	220	21	the	the	DET
ejpam-799	220	22	test	test	NOUN
ejpam-799	220	23	is	be	AUX
ejpam-799	220	24	correctly	correctly	ADV
ejpam-799	220	25	controlled	control	VERB
ejpam-799	220	26	.	.	PUNCT
ejpam-799	221	1	when	when	SCONJ
ejpam-799	221	2	the	the	DET
ejpam-799	221	3	standard	standard	ADJ
ejpam-799	221	4	variance	variance	NOUN
ejpam-799	221	5	ratio	ratio	NOUN
ejpam-799	221	6	tests	test	NOUN
ejpam-799	221	7	and	and	CCONJ
ejpam-799	221	8	our	our	PRON
ejpam-799	221	9	modified	modify	VERB
ejpam-799	221	10	tests	test	NOUN
ejpam-799	221	11	are	be	AUX
ejpam-799	221	12	applied	apply	VERB
ejpam-799	221	13	to	to	ADP
ejpam-799	221	14	exchange	exchange	VERB
ejpam-799	221	15	rates	rate	NOUN
ejpam-799	221	16	for	for	ADP
ejpam-799	221	17	can	can	AUX
ejpam-799	221	18	,	,	PUNCT
ejpam-799	221	19	dm	dm	PROPN
ejpam-799	221	20	,	,	PUNCT
ejpam-799	221	21	itl	itl	NOUN
ejpam-799	221	22	and	and	CCONJ
ejpam-799	221	23	szf	szf	NOUN
ejpam-799	221	24	,	,	PUNCT
ejpam-799	221	25	the	the	DET
ejpam-799	221	26	test	test	NOUN
ejpam-799	221	27	results	result	NOUN
ejpam-799	221	28	clearly	clearly	ADV
ejpam-799	221	29	show	show	VERB
ejpam-799	221	30	that	that	SCONJ
ejpam-799	221	31	the	the	DET
ejpam-799	221	32	rejection	rejection	NOUN
ejpam-799	221	33	of	of	ADP
ejpam-799	221	34	the	the	DET
ejpam-799	221	35	random	random	ADJ
ejpam-799	221	36	walk	walk	NOUN
ejpam-799	221	37	hypothesis	hypothesis	NOUN
ejpam-799	221	38	by	by	ADP
ejpam-799	221	39	the	the	DET
ejpam-799	221	40	standard	standard	ADJ
ejpam-799	221	41	variance	variance	NOUN
ejpam-799	221	42	ratio	ratio	NOUN
ejpam-799	221	43	tests	test	NOUN
ejpam-799	221	44	may	may	AUX
ejpam-799	221	45	have	have	AUX
ejpam-799	221	46	been	be	AUX
ejpam-799	221	47	caused	cause	VERB
ejpam-799	221	48	by	by	ADP
ejpam-799	221	49	ignoring	ignore	VERB
ejpam-799	221	50	the	the	DET
ejpam-799	221	51	presence	presence	NOUN
ejpam-799	221	52	of	of	ADP
ejpam-799	221	53	structural	structural	ADJ
ejpam-799	221	54	breaks	break	NOUN
ejpam-799	221	55	.	.	PUNCT
ejpam-799	222	1	references	reference	NOUN
ejpam-799	222	2	[	[	X
ejpam-799	222	3	1	1	NUM
ejpam-799	222	4	]	]	X
ejpam-799	222	5	cavaliere	cavaliere	PROPN
ejpam-799	222	6	,	,	PUNCT
ejpam-799	222	7	g.	g.	PROPN
ejpam-799	222	8	and	and	CCONJ
ejpam-799	222	9	taylor	taylor	PROPN
ejpam-799	222	10	,	,	PUNCT
ejpam-799	222	11	a.m.r	a.m.r	ADV
ejpam-799	222	12	.	.	PUNCT
ejpam-799	223	1	testing	test	VERB
ejpam-799	223	2	the	the	DET
ejpam-799	223	3	null	null	NOUN
ejpam-799	223	4	of	of	ADP
ejpam-799	223	5	co	co	NOUN
ejpam-799	223	6	-	-	NOUN
ejpam-799	223	7	integration	integration	NOUN
ejpam-799	223	8	in	in	ADP
ejpam-799	223	9	the	the	DET
ejpam-799	223	10	presence	presence	NOUN
ejpam-799	223	11	of	of	ADP
ejpam-799	223	12	variance	variance	NOUN
ejpam-799	223	13	breaks	break	NOUN
ejpam-799	223	14	.	.	PUNCT
ejpam-799	224	1	journal	journal	PROPN
ejpam-799	224	2	of	of	ADP
ejpam-799	224	3	time	time	NOUN
ejpam-799	224	4	series	series	PROPN
ejpam-799	224	5	analysis	analysis	NOUN
ejpam-799	224	6	27	27	NUM
ejpam-799	224	7	,	,	PUNCT
ejpam-799	224	8	613	613	NUM
ejpam-799	224	9	-	-	SYM
ejpam-799	224	10	636	636	NUM
ejpam-799	224	11	.	.	PUNCT
ejpam-799	224	12	2006	2006	NUM
ejpam-799	224	13	.	.	PUNCT
ejpam-799	225	1	[	[	X
ejpam-799	225	2	2	2	NUM
ejpam-799	225	3	]	]	X
ejpam-799	225	4	chen	chen	PROPN
ejpam-799	225	5	,	,	PUNCT
ejpam-799	225	6	w.w	w.w	PROPN
ejpam-799	225	7	.	.	PROPN
ejpam-799	225	8	and	and	CCONJ
ejpam-799	225	9	deo	deo	PROPN
ejpam-799	225	10	,	,	PUNCT
ejpam-799	225	11	r.s	r.s	PROPN
ejpam-799	225	12	.	.	PUNCT
ejpam-799	226	1	the	the	DET
ejpam-799	226	2	variance	variance	NOUN
ejpam-799	226	3	ratio	ratio	NOUN
ejpam-799	226	4	statistic	statistic	NOUN
ejpam-799	226	5	at	at	ADP
ejpam-799	226	6	large	large	ADJ
ejpam-799	226	7	horizons	horizon	NOUN
ejpam-799	226	8	.	.	PUNCT
ejpam-799	227	1	econometric	econometric	PROPN
ejpam-799	227	2	theory	theory	NOUN
ejpam-799	227	3	22	22	NUM
ejpam-799	227	4	,	,	PUNCT
ejpam-799	227	5	206	206	NUM
ejpam-799	227	6	-	-	SYM
ejpam-799	227	7	234	234	NUM
ejpam-799	227	8	.	.	PUNCT
ejpam-799	227	9	2006	2006	NUM
ejpam-799	227	10	.	.	PUNCT
ejpam-799	228	1	[	[	X
ejpam-799	228	2	3	3	NUM
ejpam-799	228	3	]	]	X
ejpam-799	228	4	choi	choi	NOUN
ejpam-799	228	5	,	,	PUNCT
ejpam-799	228	6	i.	i.	NOUN
ejpam-799	228	7	testing	test	VERB
ejpam-799	228	8	the	the	DET
ejpam-799	228	9	random	random	ADJ
ejpam-799	228	10	walk	walk	NOUN
ejpam-799	228	11	hypothesis	hypothesis	NOUN
ejpam-799	228	12	for	for	ADP
ejpam-799	228	13	real	real	ADJ
ejpam-799	228	14	exchange	exchange	NOUN
ejpam-799	228	15	rates	rate	NOUN
ejpam-799	228	16	.	.	PUNCT
ejpam-799	229	1	journal	journal	NOUN
ejpam-799	229	2	of	of	ADP
ejpam-799	229	3	applied	apply	VERB
ejpam-799	229	4	econometrics	econometric	NOUN
ejpam-799	229	5	14	14	NUM
ejpam-799	229	6	,	,	PUNCT
ejpam-799	229	7	293	293	NUM
ejpam-799	229	8	-	-	SYM
ejpam-799	229	9	308	308	NUM
ejpam-799	229	10	.	.	PUNCT
ejpam-799	229	11	1999	1999	NUM
ejpam-799	229	12	.	.	PUNCT
ejpam-799	230	1	[	[	X
ejpam-799	230	2	4	4	NUM
ejpam-799	230	3	]	]	X
ejpam-799	230	4	cochrane	cochrane	NOUN
ejpam-799	230	5	,	,	PUNCT
ejpam-799	230	6	j.h	j.h	PROPN
ejpam-799	230	7	.	.	PUNCT
ejpam-799	231	1	how	how	SCONJ
ejpam-799	231	2	big	big	ADJ
ejpam-799	231	3	is	be	AUX
ejpam-799	231	4	the	the	DET
ejpam-799	231	5	random	random	ADJ
ejpam-799	231	6	walk	walk	NOUN
ejpam-799	231	7	in	in	ADP
ejpam-799	231	8	gnp	gnp	PROPN
ejpam-799	231	9	?	?	PUNCT
ejpam-799	232	1	journal	journal	NOUN
ejpam-799	232	2	of	of	ADP
ejpam-799	232	3	political	political	ADJ
ejpam-799	232	4	economy	economy	NOUN
ejpam-799	232	5	96	96	NUM
ejpam-799	232	6	,	,	PUNCT
ejpam-799	232	7	893	893	NUM
ejpam-799	232	8	-	-	SYM
ejpam-799	232	9	920	920	NUM
ejpam-799	232	10	.	.	PUNCT
ejpam-799	232	11	1988	1988	NUM
ejpam-799	232	12	.	.	PUNCT
ejpam-799	233	1	[	[	X
ejpam-799	233	2	5	5	NUM
ejpam-799	233	3	]	]	SYM
ejpam-799	233	4	deo	deo	PROPN
ejpam-799	233	5	,	,	PUNCT
ejpam-799	233	6	r.s	r.s	PROPN
ejpam-799	233	7	.	.	PROPN
ejpam-799	233	8	and	and	CCONJ
ejpam-799	233	9	richardson	richardson	PROPN
ejpam-799	233	10	,	,	PUNCT
ejpam-799	233	11	m.	m.	NOUN
ejpam-799	233	12	on	on	ADP
ejpam-799	233	13	the	the	DET
ejpam-799	233	14	asymptotic	asymptotic	ADJ
ejpam-799	233	15	power	power	NOUN
ejpam-799	233	16	of	of	ADP
ejpam-799	233	17	the	the	DET
ejpam-799	233	18	variance	variance	NOUN
ejpam-799	233	19	ratio	ratio	NOUN
ejpam-799	233	20	test	test	NOUN
ejpam-799	233	21	.	.	PUNCT
ejpam-799	234	1	econometric	econometric	ADJ
ejpam-799	234	2	theory	theory	NOUN
ejpam-799	234	3	19	19	NUM
ejpam-799	234	4	,	,	PUNCT
ejpam-799	234	5	231	231	NUM
ejpam-799	234	6	-	-	SYM
ejpam-799	234	7	239	239	NUM
ejpam-799	234	8	.	.	PUNCT
ejpam-799	234	9	2003	2003	NUM
ejpam-799	234	10	.	.	PUNCT
ejpam-799	235	1	[	[	X
ejpam-799	235	2	6	6	NUM
ejpam-799	235	3	]	]	X
ejpam-799	235	4	fong	fong	PROPN
ejpam-799	235	5	,	,	PUNCT
ejpam-799	235	6	w.m	w.m	PROPN
ejpam-799	235	7	.	.	PROPN
ejpam-799	235	8	,	,	PUNCT
ejpam-799	235	9	koh	koh	PROPN
ejpam-799	235	10	,	,	PUNCT
ejpam-799	235	11	s.k	s.k	PROPN
ejpam-799	235	12	.	.	PROPN
ejpam-799	235	13	and	and	CCONJ
ejpam-799	235	14	ouliaris	ouliaris	PROPN
ejpam-799	235	15	,	,	PUNCT
ejpam-799	235	16	s.	s.	PROPN
ejpam-799	235	17	joint	joint	PROPN
ejpam-799	235	18	variance	variance	NOUN
ejpam-799	235	19	ratio	ratio	NOUN
ejpam-799	235	20	tests	test	NOUN
ejpam-799	235	21	of	of	ADP
ejpam-799	235	22	the	the	DET
ejpam-799	235	23	martingale	martingale	ADJ
ejpam-799	235	24	hypothesis	hypothesis	NOUN
ejpam-799	235	25	for	for	ADP
ejpam-799	235	26	exchange	exchange	NOUN
ejpam-799	235	27	rates	rate	NOUN
ejpam-799	235	28	.	.	PUNCT
ejpam-799	236	1	journal	journal	NOUN
ejpam-799	236	2	of	of	ADP
ejpam-799	236	3	business	business	NOUN
ejpam-799	236	4	and	and	CCONJ
ejpam-799	236	5	economic	economic	ADJ
ejpam-799	236	6	statistics	statistic	NOUN
ejpam-799	236	7	15	15	NUM
ejpam-799	236	8	,	,	PUNCT
ejpam-799	236	9	51–59	51–59	NUM
ejpam-799	236	10	.	.	PUNCT
ejpam-799	236	11	1997	1997	NUM
ejpam-799	236	12	.	.	PUNCT
ejpam-799	237	1	[	[	X
ejpam-799	237	2	7	7	X
ejpam-799	237	3	]	]	X
ejpam-799	237	4	kim	kim	PROPN
ejpam-799	237	5	,	,	PUNCT
ejpam-799	237	6	t.-h	t.-h	PROPN
ejpam-799	237	7	.	.	PUNCT
ejpam-799	237	8	,	,	PUNCT
ejpam-799	237	9	leybourne	leybourne	ADJ
ejpam-799	237	10	,	,	PUNCT
ejpam-799	237	11	s.j	s.j	PROPN
ejpam-799	237	12	.	.	PROPN
ejpam-799	237	13	and	and	CCONJ
ejpam-799	237	14	newbold	newbold	PROPN
ejpam-799	237	15	,	,	PUNCT
ejpam-799	237	16	p.	p.	NOUN
ejpam-799	237	17	unit	unit	NOUN
ejpam-799	237	18	root	root	NOUN
ejpam-799	237	19	tests	test	NOUN
ejpam-799	237	20	with	with	ADP
ejpam-799	237	21	a	a	DET
ejpam-799	237	22	break	break	NOUN
ejpam-799	237	23	in	in	ADP
ejpam-799	237	24	innovation	innovation	NOUN
ejpam-799	237	25	variance	variance	NOUN
ejpam-799	237	26	.	.	PUNCT
ejpam-799	238	1	journal	journal	PROPN
ejpam-799	238	2	of	of	ADP
ejpam-799	238	3	econometrics	econometrics	PROPN
ejpam-799	238	4	109	109	NUM
ejpam-799	238	5	,	,	PUNCT
ejpam-799	238	6	365	365	NUM
ejpam-799	238	7	-	-	SYM
ejpam-799	238	8	387	387	NUM
ejpam-799	238	9	.	.	NOUN
ejpam-799	238	10	2002	2002	NUM
ejpam-799	238	11	.	.	PUNCT
ejpam-799	239	1	[	[	X
ejpam-799	239	2	8	8	NUM
ejpam-799	239	3	]	]	X
ejpam-799	239	4	leybourne	leybourne	ADJ
ejpam-799	239	5	,	,	PUNCT
ejpam-799	239	6	s.j	s.j	PROPN
ejpam-799	239	7	.	.	PROPN
ejpam-799	239	8	,	,	PUNCT
ejpam-799	239	9	kim	kim	PROPN
ejpam-799	239	10	,	,	PUNCT
ejpam-799	239	11	t.-h	t.-h	PROPN
ejpam-799	239	12	.	.	PUNCT
ejpam-799	240	1	and	and	CCONJ
ejpam-799	240	2	newbold	newbold	PROPN
ejpam-799	240	3	,	,	PUNCT
ejpam-799	240	4	p.	p.	PROPN
ejpam-799	241	1	more	more	ADV
ejpam-799	241	2	powerful	powerful	ADJ
ejpam-799	241	3	modifications	modification	NOUN
ejpam-799	241	4	of	of	ADP
ejpam-799	241	5	unit	unit	NOUN
ejpam-799	241	6	root	root	NOUN
ejpam-799	241	7	tests	test	NOUN
ejpam-799	241	8	allowing	allow	VERB
ejpam-799	241	9	structural	structural	ADJ
ejpam-799	241	10	change	change	NOUN
ejpam-799	241	11	.	.	PUNCT
ejpam-799	242	1	journal	journal	NOUN
ejpam-799	242	2	of	of	ADP
ejpam-799	242	3	statistical	statistical	ADJ
ejpam-799	242	4	computation	computation	NOUN
ejpam-799	242	5	and	and	CCONJ
ejpam-799	242	6	simulation	simulation	NOUN
ejpam-799	242	7	75	75	NUM
ejpam-799	242	8	,	,	PUNCT
ejpam-799	242	9	869	869	NUM
ejpam-799	242	10	-	-	SYM
ejpam-799	242	11	888	888	NUM
ejpam-799	242	12	.	.	NOUN
ejpam-799	242	13	2005	2005	NUM
ejpam-799	242	14	.	.	PUNCT
ejpam-799	243	1	[	[	X
ejpam-799	243	2	9	9	NUM
ejpam-799	243	3	]	]	X
ejpam-799	243	4	liu	liu	PROPN
ejpam-799	243	5	,	,	PUNCT
ejpam-799	243	6	c.y	c.y	PROPN
ejpam-799	243	7	.	.	PROPN
ejpam-799	243	8	and	and	CCONJ
ejpam-799	243	9	he	he	PRON
ejpam-799	243	10	,	,	PUNCT
ejpam-799	243	11	j.	j.	PROPN
ejpam-799	243	12	a	a	DET
ejpam-799	243	13	variance	variance	NOUN
ejpam-799	243	14	ratio	ratio	NOUN
ejpam-799	243	15	test	test	NOUN
ejpam-799	243	16	of	of	ADP
ejpam-799	243	17	random	random	ADJ
ejpam-799	243	18	walks	walk	NOUN
ejpam-799	243	19	in	in	ADP
ejpam-799	243	20	foreign	foreign	ADJ
ejpam-799	243	21	exchange	exchange	NOUN
ejpam-799	243	22	rates	rate	NOUN
ejpam-799	243	23	.	.	PUNCT
ejpam-799	244	1	journal	journal	NOUN
ejpam-799	244	2	of	of	ADP
ejpam-799	244	3	finance	finance	NOUN
ejpam-799	244	4	46	46	NUM
ejpam-799	244	5	,	,	PUNCT
ejpam-799	244	6	773–785	773–785	NUM
ejpam-799	244	7	.	.	NOUN
ejpam-799	244	8	1991	1991	NUM
ejpam-799	244	9	.	.	PUNCT
ejpam-799	245	1	[	[	X
ejpam-799	245	2	10	10	NUM
ejpam-799	245	3	]	]	X
ejpam-799	245	4	lo	lo	PROPN
ejpam-799	245	5	,	,	PUNCT
ejpam-799	245	6	a.w	a.w	PROPN
ejpam-799	245	7	.	.	PROPN
ejpam-799	245	8	and	and	CCONJ
ejpam-799	245	9	mackinlay	mackinlay	PROPN
ejpam-799	245	10	,	,	PUNCT
ejpam-799	245	11	a.g	a.g	PROPN
ejpam-799	245	12	.	.	PROPN
ejpam-799	245	13	stock	stock	NOUN
ejpam-799	245	14	market	market	NOUN
ejpam-799	245	15	prices	price	NOUN
ejpam-799	245	16	do	do	AUX
ejpam-799	245	17	not	not	PART
ejpam-799	245	18	follow	follow	VERB
ejpam-799	245	19	random	random	ADJ
ejpam-799	245	20	walks	walk	NOUN
ejpam-799	245	21	:	:	PUNCT
ejpam-799	245	22	evidence	evidence	NOUN
ejpam-799	245	23	from	from	ADP
ejpam-799	245	24	a	a	DET
ejpam-799	245	25	simple	simple	ADJ
ejpam-799	245	26	specification	specification	NOUN
ejpam-799	245	27	test	test	NOUN
ejpam-799	245	28	.	.	PUNCT
ejpam-799	246	1	review	review	NOUN
ejpam-799	246	2	of	of	ADP
ejpam-799	246	3	financial	financial	ADJ
ejpam-799	246	4	studies	study	NOUN
ejpam-799	246	5	1	1	NUM
ejpam-799	246	6	,	,	PUNCT
ejpam-799	246	7	41–66	41–66	NOUN
ejpam-799	246	8	.	.	PUNCT
ejpam-799	246	9	1988	1988	NUM
ejpam-799	246	10	.	.	PUNCT
ejpam-799	247	1	[	[	X
ejpam-799	247	2	11	11	NUM
ejpam-799	247	3	]	]	X
ejpam-799	247	4	lo	lo	PROPN
ejpam-799	247	5	,	,	PUNCT
ejpam-799	247	6	a.w	a.w	PROPN
ejpam-799	247	7	.	.	PROPN
ejpam-799	247	8	and	and	CCONJ
ejpam-799	247	9	mackinlay	mackinlay	PROPN
ejpam-799	247	10	,	,	PUNCT
ejpam-799	247	11	a.g	a.g	PROPN
ejpam-799	247	12	.	.	PROPN
ejpam-799	247	13	the	the	DET
ejpam-799	247	14	size	size	NOUN
ejpam-799	247	15	and	and	CCONJ
ejpam-799	247	16	power	power	NOUN
ejpam-799	247	17	of	of	ADP
ejpam-799	247	18	the	the	DET
ejpam-799	247	19	variance	variance	NOUN
ejpam-799	247	20	ratio	ratio	NOUN
ejpam-799	247	21	test	test	NOUN
ejpam-799	247	22	in	in	ADP
ejpam-799	247	23	finite	finite	ADJ
ejpam-799	247	24	samples	sample	NOUN
ejpam-799	247	25	.	.	PUNCT
ejpam-799	248	1	journal	journal	NOUN
ejpam-799	248	2	of	of	ADP
ejpam-799	248	3	econometrics	econometric	NOUN
ejpam-799	248	4	40	40	NUM
ejpam-799	248	5	,	,	PUNCT
ejpam-799	248	6	203–238	203–238	NUM
ejpam-799	248	7	.	.	NOUN
ejpam-799	248	8	1989	1989	NUM
ejpam-799	248	9	.	.	PUNCT
ejpam-799	249	1	references	reference	NOUN
ejpam-799	249	2	514	514	NUM
ejpam-799	249	3	[	[	X
ejpam-799	249	4	12	12	NUM
ejpam-799	249	5	]	]	SYM
ejpam-799	249	6	perron	perron	PROPN
ejpam-799	249	7	,	,	PUNCT
ejpam-799	249	8	p.	p.	NOUN
ejpam-799	249	9	the	the	DET
ejpam-799	249	10	great	great	ADJ
ejpam-799	249	11	crash	crash	NOUN
ejpam-799	249	12	,	,	PUNCT
ejpam-799	249	13	the	the	DET
ejpam-799	249	14	oil	oil	NOUN
ejpam-799	249	15	price	price	NOUN
ejpam-799	249	16	shock	shock	NOUN
ejpam-799	249	17	,	,	PUNCT
ejpam-799	249	18	and	and	CCONJ
ejpam-799	249	19	the	the	DET
ejpam-799	249	20	unit	unit	NOUN
ejpam-799	249	21	root	root	PROPN
ejpam-799	249	22	hypothesis	hypothesis	NOUN
ejpam-799	249	23	.	.	PUNCT
ejpam-799	250	1	econometrica	econometrica	PROPN
ejpam-799	250	2	57	57	NUM
ejpam-799	250	3	,	,	PUNCT
ejpam-799	250	4	1361	1361	NUM
ejpam-799	250	5	-	-	SYM
ejpam-799	250	6	1401	1401	NUM
ejpam-799	250	7	.	.	PUNCT
ejpam-799	251	1	1989	1989	NUM
ejpam-799	251	2	.	.	PUNCT
ejpam-799	252	1	[	[	X
ejpam-799	252	2	13	13	NUM
ejpam-799	252	3	]	]	SYM
ejpam-799	252	4	perron	perron	PROPN
ejpam-799	252	5	,	,	PUNCT
ejpam-799	252	6	p.	p.	NOUN
ejpam-799	252	7	testing	testing	NOUN
ejpam-799	252	8	for	for	ADP
ejpam-799	252	9	a	a	DET
ejpam-799	252	10	unit	unit	NOUN
ejpam-799	252	11	root	root	NOUN
ejpam-799	252	12	in	in	ADP
ejpam-799	252	13	a	a	DET
ejpam-799	252	14	time	time	NOUN
ejpam-799	252	15	series	series	NOUN
ejpam-799	252	16	with	with	ADP
ejpam-799	252	17	a	a	DET
ejpam-799	252	18	changing	change	VERB
ejpam-799	252	19	mean	mean	NOUN
ejpam-799	252	20	.	.	PUNCT
ejpam-799	253	1	journal	journal	NOUN
ejpam-799	253	2	of	of	ADP
ejpam-799	253	3	business	business	NOUN
ejpam-799	253	4	and	and	CCONJ
ejpam-799	253	5	economic	economic	ADJ
ejpam-799	253	6	statistics	statistic	NOUN
ejpam-799	253	7	8	8	NUM
ejpam-799	253	8	,	,	PUNCT
ejpam-799	253	9	153	153	NUM
ejpam-799	253	10	-	-	SYM
ejpam-799	253	11	162	162	NUM
ejpam-799	253	12	.	.	PUNCT
ejpam-799	253	13	1990	1990	NUM
ejpam-799	253	14	.	.	PUNCT
ejpam-799	254	1	[	[	X
ejpam-799	254	2	14	14	NUM
ejpam-799	254	3	]	]	SYM
ejpam-799	254	4	perron	perron	PROPN
ejpam-799	254	5	,	,	PUNCT
ejpam-799	254	6	p.	p.	PROPN
ejpam-799	255	1	the	the	DET
ejpam-799	255	2	variance	variance	NOUN
ejpam-799	255	3	ratio	ratio	NOUN
ejpam-799	255	4	test	test	NOUN
ejpam-799	255	5	:	:	PUNCT
ejpam-799	255	6	an	an	DET
ejpam-799	255	7	analysis	analysis	NOUN
ejpam-799	255	8	of	of	ADP
ejpam-799	255	9	size	size	NOUN
ejpam-799	255	10	and	and	CCONJ
ejpam-799	255	11	power	power	NOUN
ejpam-799	255	12	based	base	VERB
ejpam-799	255	13	on	on	ADP
ejpam-799	255	14	a	a	DET
ejpam-799	255	15	continuoustime	continuoustime	ADJ
ejpam-799	255	16	asymptotic	asymptotic	ADJ
ejpam-799	255	17	framework	framework	NOUN
ejpam-799	255	18	.	.	PUNCT
ejpam-799	256	1	econometric	econometric	ADJ
ejpam-799	256	2	theory	theory	NOUN
ejpam-799	256	3	21	21	NUM
ejpam-799	256	4	,	,	PUNCT
ejpam-799	256	5	562	562	NUM
ejpam-799	256	6	-	-	SYM
ejpam-799	256	7	592	592	NUM
ejpam-799	256	8	.	.	NUM
ejpam-799	256	9	2005	2005	NUM
ejpam-799	256	10	.	.	PUNCT
ejpam-799	257	1	[	[	X
ejpam-799	257	2	15	15	NUM
ejpam-799	257	3	]	]	X
ejpam-799	257	4	perron	perron	PROPN
ejpam-799	257	5	,	,	PUNCT
ejpam-799	257	6	p.	p.	NOUN
ejpam-799	257	7	and	and	CCONJ
ejpam-799	257	8	rodriguez	rodriguez	PROPN
ejpam-799	257	9	,	,	PUNCT
ejpam-799	257	10	g.	g.	PROPN
ejpam-799	257	11	gls	gls	PROPN
ejpam-799	257	12	detrending	detrending	NOUN
ejpam-799	257	13	,	,	PUNCT
ejpam-799	257	14	efficient	efficient	ADJ
ejpam-799	257	15	unit	unit	NOUN
ejpam-799	257	16	root	root	NOUN
ejpam-799	257	17	tests	test	NOUN
ejpam-799	257	18	and	and	CCONJ
ejpam-799	257	19	structural	structural	ADJ
ejpam-799	257	20	change	change	NOUN
ejpam-799	257	21	.	.	PUNCT
ejpam-799	258	1	journal	journal	NOUN
ejpam-799	258	2	of	of	ADP
ejpam-799	258	3	econometrics	econometric	NOUN
ejpam-799	258	4	115	115	NUM
ejpam-799	258	5	,	,	PUNCT
ejpam-799	258	6	1	1	NUM
ejpam-799	258	7	-	-	SYM
ejpam-799	258	8	27	27	NUM
ejpam-799	258	9	.	.	PUNCT
ejpam-799	258	10	2003	2003	NUM
ejpam-799	258	11	.	.	PUNCT
ejpam-799	259	1	[	[	X
ejpam-799	259	2	16	16	NUM
ejpam-799	259	3	]	]	SYM
ejpam-799	259	4	perron	perron	PROPN
ejpam-799	259	5	,	,	PUNCT
ejpam-799	259	6	p.	p.	NOUN
ejpam-799	259	7	and	and	CCONJ
ejpam-799	259	8	vogelsang	vogelsang	PROPN
ejpam-799	259	9	,	,	PUNCT
ejpam-799	259	10	t.j	t.j	PROPN
ejpam-799	259	11	.	.	PROPN
ejpam-799	259	12	testing	testing	NOUN
ejpam-799	259	13	for	for	ADP
ejpam-799	259	14	a	a	DET
ejpam-799	259	15	unit	unit	NOUN
ejpam-799	259	16	root	root	NOUN
ejpam-799	259	17	in	in	ADP
ejpam-799	259	18	a	a	DET
ejpam-799	259	19	time	time	NOUN
ejpam-799	259	20	series	series	NOUN
ejpam-799	259	21	with	with	ADP
ejpam-799	259	22	a	a	DET
ejpam-799	259	23	changing	change	VERB
ejpam-799	259	24	mean	mean	NOUN
ejpam-799	259	25	:	:	PUNCT
ejpam-799	259	26	corrections	correction	NOUN
ejpam-799	259	27	and	and	CCONJ
ejpam-799	259	28	extensions	extension	NOUN
ejpam-799	259	29	.	.	PUNCT
ejpam-799	260	1	journal	journal	NOUN
ejpam-799	260	2	of	of	ADP
ejpam-799	260	3	business	business	NOUN
ejpam-799	260	4	and	and	CCONJ
ejpam-799	260	5	economic	economic	ADJ
ejpam-799	260	6	statistics	statistic	NOUN
ejpam-799	260	7	10	10	NUM
ejpam-799	260	8	,	,	PUNCT
ejpam-799	260	9	467470	467470	NUM
ejpam-799	260	10	.	.	PUNCT
ejpam-799	261	1	1992	1992	NUM
ejpam-799	261	2	.	.	PUNCT
ejpam-799	262	1	[	[	X
ejpam-799	262	2	17	17	NUM
ejpam-799	262	3	]	]	X
ejpam-799	262	4	powell	powell	PROPN
ejpam-799	262	5	,	,	PUNCT
ejpam-799	262	6	j.	j.	PROPN
ejpam-799	262	7	a	a	DET
ejpam-799	262	8	history	history	NOUN
ejpam-799	262	9	of	of	ADP
ejpam-799	262	10	the	the	DET
ejpam-799	262	11	canadian	canadian	ADJ
ejpam-799	262	12	dollar	dollar	NOUN
ejpam-799	262	13	,	,	PUNCT
ejpam-799	262	14	bank	bank	PROPN
ejpam-799	262	15	of	of	ADP
ejpam-799	262	16	canada	canada	PROPN
ejpam-799	262	17	.	.	PUNCT
ejpam-799	262	18	2005	2005	NUM
ejpam-799	262	19	.	.	PUNCT
ejpam-799	263	1	[	[	X
ejpam-799	263	2	18	18	NUM
ejpam-799	263	3	]	]	X
ejpam-799	263	4	richardson	richardson	PROPN
ejpam-799	263	5	,	,	PUNCT
ejpam-799	263	6	m.	m.	NOUN
ejpam-799	263	7	and	and	CCONJ
ejpam-799	263	8	smith	smith	PROPN
ejpam-799	263	9	,	,	PUNCT
ejpam-799	263	10	t.	t.	NOUN
ejpam-799	263	11	tests	test	NOUN
ejpam-799	263	12	of	of	ADP
ejpam-799	263	13	financial	financial	ADJ
ejpam-799	263	14	models	model	NOUN
ejpam-799	263	15	in	in	ADP
ejpam-799	263	16	the	the	DET
ejpam-799	263	17	presence	presence	NOUN
ejpam-799	263	18	of	of	ADP
ejpam-799	263	19	overlapping	overlap	VERB
ejpam-799	263	20	observations	observation	NOUN
ejpam-799	263	21	.	.	PUNCT
ejpam-799	264	1	review	review	NOUN
ejpam-799	264	2	of	of	ADP
ejpam-799	264	3	financial	financial	ADJ
ejpam-799	264	4	studies	study	NOUN
ejpam-799	264	5	4	4	NUM
ejpam-799	264	6	,	,	PUNCT
ejpam-799	264	7	227–254	227–254	NUM
ejpam-799	264	8	.	.	PUNCT
ejpam-799	264	9	1991	1991	NUM
ejpam-799	264	10	.	.	PUNCT
ejpam-799	265	1	[	[	X
ejpam-799	265	2	19	19	NUM
ejpam-799	265	3	]	]	X
ejpam-799	265	4	ronen	ronen	NOUN
ejpam-799	265	5	,	,	PUNCT
ejpam-799	265	6	t.	t.	NOUN
ejpam-799	265	7	tests	test	NOUN
ejpam-799	265	8	and	and	CCONJ
ejpam-799	265	9	properties	property	NOUN
ejpam-799	265	10	of	of	ADP
ejpam-799	265	11	variance	variance	NOUN
ejpam-799	265	12	ratios	ratio	NOUN
ejpam-799	265	13	in	in	ADP
ejpam-799	265	14	microstructure	microstructure	ADJ
ejpam-799	265	15	studies	study	NOUN
ejpam-799	265	16	.	.	PUNCT
ejpam-799	266	1	journal	journal	PROPN
ejpam-799	266	2	of	of	ADP
ejpam-799	266	3	financial	financial	ADJ
ejpam-799	266	4	and	and	CCONJ
ejpam-799	266	5	quantitative	quantitative	ADJ
ejpam-799	266	6	analysis	analysis	NOUN
ejpam-799	266	7	32	32	NUM
ejpam-799	266	8	,	,	PUNCT
ejpam-799	266	9	183	183	NUM
ejpam-799	266	10	-	-	SYM
ejpam-799	266	11	204	204	NUM
ejpam-799	266	12	.	.	PUNCT
ejpam-799	267	1	1997	1997	NUM
ejpam-799	267	2	.	.	PUNCT
ejpam-799	268	1	[	[	X
ejpam-799	268	2	20	20	NUM
ejpam-799	268	3	]	]	SYM
ejpam-799	268	4	tse	tse	PROPN
ejpam-799	268	5	,	,	PUNCT
ejpam-799	268	6	y.k	y.k	PROPN
ejpam-799	268	7	.	.	PROPN
ejpam-799	268	8	and	and	CCONJ
ejpam-799	268	9	zhang	zhang	PROPN
ejpam-799	268	10	,	,	PUNCT
ejpam-799	268	11	x.b	x.b	PROPN
ejpam-799	268	12	.	.	PUNCT
ejpam-799	269	1	the	the	DET
ejpam-799	269	2	variance	variance	NOUN
ejpam-799	269	3	ratio	ratio	NOUN
ejpam-799	269	4	test	test	NOUN
ejpam-799	269	5	with	with	ADP
ejpam-799	269	6	stable	stable	ADJ
ejpam-799	269	7	paretian	paretian	ADJ
ejpam-799	269	8	errors	error	NOUN
ejpam-799	269	9	.	.	PUNCT
ejpam-799	270	1	journal	journal	NOUN
ejpam-799	270	2	of	of	ADP
ejpam-799	270	3	time	time	NOUN
ejpam-799	270	4	series	series	PROPN
ejpam-799	270	5	analysis	analysis	NOUN
ejpam-799	270	6	23	23	NUM
ejpam-799	270	7	,	,	PUNCT
ejpam-799	270	8	117	117	NUM
ejpam-799	270	9	-	-	SYM
ejpam-799	270	10	126	126	NUM
ejpam-799	270	11	.	.	PUNCT
ejpam-799	270	12	2002	2002	NUM
ejpam-799	270	13	.	.	PUNCT
ejpam-799	271	1	[	[	X
ejpam-799	271	2	21	21	NUM
ejpam-799	271	3	]	]	X
ejpam-799	271	4	tse	tse	PROPN
ejpam-799	271	5	,	,	PUNCT
ejpam-799	271	6	y.k	y.k	PROPN
ejpam-799	271	7	.	.	PROPN
ejpam-799	271	8	and	and	CCONJ
ejpam-799	271	9	zhang	zhang	PROPN
ejpam-799	271	10	,	,	PUNCT
ejpam-799	271	11	x.b	x.b	PROPN
ejpam-799	271	12	.	.	PROPN
ejpam-799	272	1	a	a	DET
ejpam-799	272	2	small	small	ADJ
ejpam-799	272	3	-	-	PUNCT
ejpam-799	272	4	sample	sample	NOUN
ejpam-799	272	5	overlapping	overlap	VERB
ejpam-799	272	6	variance	variance	NOUN
ejpam-799	272	7	ratio	ratio	NOUN
ejpam-799	272	8	test	test	NOUN
ejpam-799	272	9	.	.	PUNCT
ejpam-799	273	1	journal	journal	NOUN
ejpam-799	273	2	of	of	ADP
ejpam-799	273	3	time	time	NOUN
ejpam-799	273	4	series	series	PROPN
ejpam-799	273	5	analysis	analysis	NOUN
ejpam-799	273	6	25	25	NUM
ejpam-799	273	7	,	,	PUNCT
ejpam-799	273	8	127	127	NUM
ejpam-799	273	9	-	-	SYM
ejpam-799	273	10	135	135	NUM
ejpam-799	273	11	.	.	PUNCT
ejpam-799	273	12	2004	2004	NUM
ejpam-799	273	13	.	.	PUNCT
ejpam-799	274	1	[	[	X
ejpam-799	274	2	22	22	NUM
ejpam-799	274	3	]	]	X
ejpam-799	274	4	white	white	PROPN
ejpam-799	274	5	,	,	PUNCT
ejpam-799	274	6	h.	h.	PROPN
ejpam-799	274	7	a	a	DET
ejpam-799	274	8	heteroscedasticity	heteroscedasticity	NOUN
ejpam-799	274	9	-	-	PUNCT
ejpam-799	274	10	consistent	consistent	ADJ
ejpam-799	274	11	covariance	covariance	NOUN
ejpam-799	274	12	matrix	matrix	NOUN
ejpam-799	274	13	estimator	estimator	NOUN
ejpam-799	274	14	and	and	CCONJ
ejpam-799	274	15	a	a	DET
ejpam-799	274	16	direct	direct	ADJ
ejpam-799	274	17	test	test	NOUN
ejpam-799	274	18	for	for	ADP
ejpam-799	274	19	heteroscedasticity	heteroscedasticity	PROPN
ejpam-799	274	20	.	.	PUNCT
ejpam-799	275	1	econometrica	econometrica	PROPN
ejpam-799	275	2	48	48	NUM
ejpam-799	275	3	,	,	PUNCT
ejpam-799	275	4	817–838	817–838	NUM
ejpam-799	275	5	.	.	NOUN
ejpam-799	275	6	1980	1980	NUM
ejpam-799	275	7	.	.	PUNCT
ejpam-799	276	1	[	[	X
ejpam-799	276	2	23	23	NUM
ejpam-799	276	3	]	]	X
ejpam-799	276	4	white	white	PROPN
ejpam-799	276	5	,	,	PUNCT
ejpam-799	276	6	h.	h.	PROPN
ejpam-799	276	7	asymptotic	asymptotic	ADJ
ejpam-799	276	8	theory	theory	NOUN
ejpam-799	276	9	for	for	ADP
ejpam-799	276	10	econometricians	econometrician	NOUN
ejpam-799	276	11	,	,	PUNCT
ejpam-799	276	12	academic	academic	ADJ
ejpam-799	276	13	press	press	NOUN
ejpam-799	276	14	,	,	PUNCT
ejpam-799	276	15	new	new	PROPN
ejpam-799	276	16	york	york	PROPN
ejpam-799	276	17	.	.	PUNCT
ejpam-799	276	18	1984	1984	NUM
ejpam-799	276	19	.	.	PUNCT
ejpam-799	277	1	[	[	X
ejpam-799	277	2	24	24	NUM
ejpam-799	277	3	]	]	X
ejpam-799	277	4	white	white	PROPN
ejpam-799	277	5	,	,	PUNCT
ejpam-799	277	6	h.	h.	PROPN
ejpam-799	277	7	and	and	CCONJ
ejpam-799	277	8	domowitz	domowitz	PROPN
ejpam-799	277	9	,	,	PUNCT
ejpam-799	277	10	i.	i.	PROPN
ejpam-799	277	11	nonlinear	nonlinear	PROPN
ejpam-799	277	12	regression	regression	PROPN
ejpam-799	277	13	with	with	ADP
ejpam-799	277	14	dependent	dependent	ADJ
ejpam-799	277	15	observations	observation	NOUN
ejpam-799	277	16	.	.	PUNCT
ejpam-799	278	1	econometrica	econometrica	PROPN
ejpam-799	278	2	52	52	NUM
ejpam-799	278	3	,	,	PUNCT
ejpam-799	278	4	143–162	143–162	NUM
ejpam-799	278	5	.	.	NOUN
ejpam-799	278	6	1984	1984	NUM
ejpam-799	278	7	.	.	PUNCT
ejpam-799	279	1	[	[	X
ejpam-799	279	2	25	25	NUM
ejpam-799	279	3	]	]	X
ejpam-799	279	4	yilmaz	yilmaz	PROPN
ejpam-799	279	5	,	,	PUNCT
ejpam-799	279	6	k.	k.	PROPN
ejpam-799	279	7	martingale	martingale	PROPN
ejpam-799	279	8	property	property	NOUN
ejpam-799	279	9	of	of	ADP
ejpam-799	279	10	exchange	exchange	NOUN
ejpam-799	279	11	rates	rate	NOUN
ejpam-799	279	12	and	and	CCONJ
ejpam-799	279	13	central	central	ADJ
ejpam-799	279	14	bank	bank	NOUN
ejpam-799	279	15	interventions	intervention	NOUN
ejpam-799	279	16	.	.	PUNCT
ejpam-799	280	1	journal	journal	NOUN
ejpam-799	280	2	of	of	ADP
ejpam-799	280	3	business	business	NOUN
ejpam-799	280	4	and	and	CCONJ
ejpam-799	280	5	economic	economic	ADJ
ejpam-799	280	6	statistics	statistic	NOUN
ejpam-799	280	7	21	21	NUM
ejpam-799	280	8	,	,	PUNCT
ejpam-799	280	9	383–395	383–395	NUM
ejpam-799	280	10	.	.	PUNCT
ejpam-799	280	11	2003	2003	NUM
ejpam-799	280	12	.	.	PUNCT
ejpam-799	281	1	appendix	appendix	ADJ
ejpam-799	281	2	references	reference	NOUN
ejpam-799	281	3	515	515	NUM
ejpam-799	281	4	references	reference	NOUN
ejpam-799	281	5	516	516	NUM
ejpam-799	281	6	references	reference	NOUN
ejpam-799	281	7	517	517	NUM
ejpam-799	281	8	references	reference	NOUN
ejpam-799	281	9	518	518	NUM