id	sid	tid	token	lemma	pos
ejpam-803	1	1	8_xxx_swanson.dvi	8_xxx_swanson.dvi	NUM
ejpam-803	1	2	european	european	PROPN
ejpam-803	1	3	journal	journal	PROPN
ejpam-803	1	4	of	of	ADP
ejpam-803	1	5	pure	pure	ADJ
ejpam-803	1	6	and	and	CCONJ
ejpam-803	1	7	applied	apply	VERB
ejpam-803	1	8	mathematics	mathematic	NOUN
ejpam-803	1	9	vol	vol	NOUN
ejpam-803	1	10	.	.	PUNCT
ejpam-803	2	1	3	3	NUM
ejpam-803	2	2	,	,	PUNCT
ejpam-803	2	3	no	no	INTJ
ejpam-803	2	4	.	.	NOUN
ejpam-803	2	5	3	3	NUM
ejpam-803	2	6	,	,	PUNCT
ejpam-803	2	7	2010	2010	NUM
ejpam-803	2	8	,	,	PUNCT
ejpam-803	2	9	478	478	NUM
ejpam-803	2	10	-	-	SYM
ejpam-803	2	11	501	501	NUM
ejpam-803	2	12	issn	issn	PROPN
ejpam-803	2	13	1307	1307	NUM
ejpam-803	2	14	-	-	SYM
ejpam-803	2	15	5543	5543	NUM
ejpam-803	2	16	–	–	PUNCT
ejpam-803	2	17	www.ejpam.com	www.ejpam.com	X
ejpam-803	2	18	special	special	ADJ
ejpam-803	2	19	issue	issue	NOUN
ejpam-803	2	20	on	on	ADP
ejpam-803	2	21	granger	granger	PROPN
ejpam-803	2	22	econometrics	econometric	NOUN
ejpam-803	2	23	and	and	CCONJ
ejpam-803	2	24	statistical	statistical	ADJ
ejpam-803	2	25	modeling	modeling	NOUN
ejpam-803	2	26	dedicated	dedicate	VERB
ejpam-803	2	27	to	to	ADP
ejpam-803	2	28	the	the	DET
ejpam-803	2	29	memory	memory	NOUN
ejpam-803	2	30	of	of	ADP
ejpam-803	2	31	prof	prof	NOUN
ejpam-803	2	32	.	.	PUNCT
ejpam-803	3	1	sir	sir	PROPN
ejpam-803	3	2	clive	clive	PROPN
ejpam-803	3	3	w.j	w.j	PROPN
ejpam-803	3	4	.	.	PROPN
ejpam-803	4	1	granger	granger	PROPN
ejpam-803	4	2	diffusion	diffusion	PROPN
ejpam-803	4	3	index	index	NOUN
ejpam-803	4	4	models	model	NOUN
ejpam-803	4	5	and	and	CCONJ
ejpam-803	4	6	index	index	NOUN
ejpam-803	4	7	proxies	proxy	NOUN
ejpam-803	4	8	:	:	PUNCT
ejpam-803	4	9	recent	recent	ADJ
ejpam-803	4	10	results	result	NOUN
ejpam-803	4	11	and	and	CCONJ
ejpam-803	4	12	new	new	ADJ
ejpam-803	4	13	directions	direction	NOUN
ejpam-803	4	14	nii	nii	PROPN
ejpam-803	4	15	ayi	ayi	PROPN
ejpam-803	4	16	armah1	armah1	PROPN
ejpam-803	4	17	and	and	CCONJ
ejpam-803	4	18	norman	norman	PROPN
ejpam-803	4	19	r.	r.	PROPN
ejpam-803	4	20	swanson2∗†	swanson2∗†	PROPN
ejpam-803	4	21	1	1	NUM
ejpam-803	4	22	the	the	DET
ejpam-803	4	23	bank	bank	PROPN
ejpam-803	4	24	of	of	ADP
ejpam-803	4	25	canada	canada	PROPN
ejpam-803	4	26	,	,	PUNCT
ejpam-803	4	27	234	234	NUM
ejpam-803	4	28	wellington	wellington	PROPN
ejpam-803	4	29	street	street	PROPN
ejpam-803	4	30	,	,	PUNCT
ejpam-803	4	31	ottawa	ottawa	PROPN
ejpam-803	4	32	,	,	PUNCT
ejpam-803	4	33	on	on	ADP
ejpam-803	4	34	k1a	k1a	PROPN
ejpam-803	4	35	0g9	0g9	PROPN
ejpam-803	4	36	,	,	PUNCT
ejpam-803	4	37	canada	canada	PROPN
ejpam-803	4	38	2	2	NUM
ejpam-803	4	39	department	department	NOUN
ejpam-803	4	40	of	of	ADP
ejpam-803	4	41	economics	economic	NOUN
ejpam-803	4	42	,	,	PUNCT
ejpam-803	4	43	rutgers	rutgers	PROPN
ejpam-803	4	44	university	university	PROPN
ejpam-803	4	45	,	,	PUNCT
ejpam-803	4	46	75	75	NUM
ejpam-803	4	47	hamilton	hamilton	PROPN
ejpam-803	4	48	street	street	PROPN
ejpam-803	4	49	,	,	PUNCT
ejpam-803	4	50	new	new	PROPN
ejpam-803	4	51	brunswick	brunswick	PROPN
ejpam-803	4	52	,	,	PUNCT
ejpam-803	4	53	nj	nj	PROPN
ejpam-803	4	54	08901	08901	NUM
ejpam-803	4	55	,	,	PUNCT
ejpam-803	4	56	usa	usa	PROPN
ejpam-803	4	57	abstract	abstract	PROPN
ejpam-803	4	58	.	.	PUNCT
ejpam-803	5	1	diffusion	diffusion	NOUN
ejpam-803	5	2	index	index	NOUN
ejpam-803	5	3	models	model	NOUN
ejpam-803	5	4	have	have	AUX
ejpam-803	5	5	received	receive	VERB
ejpam-803	5	6	considerable	considerable	ADJ
ejpam-803	5	7	attention	attention	NOUN
ejpam-803	5	8	from	from	ADP
ejpam-803	5	9	both	both	PRON
ejpam-803	5	10	theoreticians	theoretician	NOUN
ejpam-803	5	11	and	and	CCONJ
ejpam-803	5	12	empirical	empirical	ADJ
ejpam-803	5	13	econometricians	econometrician	NOUN
ejpam-803	5	14	in	in	ADP
ejpam-803	5	15	recent	recent	ADJ
ejpam-803	5	16	years	year	NOUN
ejpam-803	5	17	.	.	PUNCT
ejpam-803	6	1	one	one	NUM
ejpam-803	6	2	reason	reason	NOUN
ejpam-803	6	3	for	for	ADP
ejpam-803	6	4	this	this	PRON
ejpam-803	6	5	is	be	AUX
ejpam-803	6	6	that	that	SCONJ
ejpam-803	6	7	datasets	dataset	NOUN
ejpam-803	6	8	with	with	ADP
ejpam-803	6	9	many	many	ADJ
ejpam-803	6	10	variables	variable	NOUN
ejpam-803	6	11	are	be	AUX
ejpam-803	6	12	increasingly	increasingly	ADV
ejpam-803	6	13	becoming	become	VERB
ejpam-803	6	14	available	available	ADJ
ejpam-803	6	15	and	and	CCONJ
ejpam-803	6	16	being	be	AUX
ejpam-803	6	17	utilized	utilize	VERB
ejpam-803	6	18	for	for	ADP
ejpam-803	6	19	economic	economic	ADJ
ejpam-803	6	20	modelling	modelling	NOUN
ejpam-803	6	21	,	,	PUNCT
ejpam-803	6	22	and	and	CCONJ
ejpam-803	6	23	another	another	PRON
ejpam-803	6	24	is	be	AUX
ejpam-803	6	25	that	that	SCONJ
ejpam-803	6	26	common	common	ADJ
ejpam-803	6	27	factors	factor	NOUN
ejpam-803	6	28	are	be	AUX
ejpam-803	6	29	often	often	ADV
ejpam-803	6	30	assumed	assume	VERB
ejpam-803	6	31	to	to	PART
ejpam-803	6	32	underlie	underlie	VERB
ejpam-803	6	33	the	the	DET
ejpam-803	6	34	co	co	NOUN
ejpam-803	6	35	-	-	NOUN
ejpam-803	6	36	movements	movement	NOUN
ejpam-803	6	37	of	of	ADP
ejpam-803	6	38	a	a	DET
ejpam-803	6	39	set	set	NOUN
ejpam-803	6	40	of	of	ADP
ejpam-803	6	41	macroeconomic	macroeconomic	ADJ
ejpam-803	6	42	variables	variable	NOUN
ejpam-803	6	43	.	.	PUNCT
ejpam-803	7	1	in	in	ADP
ejpam-803	7	2	this	this	DET
ejpam-803	7	3	paper	paper	NOUN
ejpam-803	7	4	we	we	PRON
ejpam-803	7	5	review	review	VERB
ejpam-803	7	6	some	some	DET
ejpam-803	7	7	recent	recent	ADJ
ejpam-803	7	8	results	result	NOUN
ejpam-803	7	9	in	in	ADP
ejpam-803	7	10	the	the	DET
ejpam-803	7	11	study	study	NOUN
ejpam-803	7	12	of	of	ADP
ejpam-803	7	13	diffusion	diffusion	NOUN
ejpam-803	7	14	index	index	NOUN
ejpam-803	7	15	models	model	NOUN
ejpam-803	7	16	,	,	PUNCT
ejpam-803	7	17	focusing	focus	VERB
ejpam-803	7	18	primarily	primarily	ADV
ejpam-803	7	19	on	on	ADP
ejpam-803	7	20	advances	advance	NOUN
ejpam-803	7	21	due	due	ADP
ejpam-803	7	22	to	to	ADP
ejpam-803	7	23	[	[	X
ejpam-803	7	24	4	4	NUM
ejpam-803	7	25	,	,	PUNCT
ejpam-803	7	26	5	5	NUM
ejpam-803	7	27	]	]	PUNCT
ejpam-803	7	28	and	and	CCONJ
ejpam-803	7	29	[	[	X
ejpam-803	7	30	1	1	NUM
ejpam-803	7	31	]	]	PUNCT
ejpam-803	7	32	.	.	PUNCT
ejpam-803	8	1	we	we	PRON
ejpam-803	8	2	discuss	discuss	VERB
ejpam-803	8	3	,	,	PUNCT
ejpam-803	8	4	for	for	ADP
ejpam-803	8	5	example	example	NOUN
ejpam-803	8	6	,	,	PUNCT
ejpam-803	8	7	the	the	DET
ejpam-803	8	8	construction	construction	NOUN
ejpam-803	8	9	of	of	ADP
ejpam-803	8	10	factors	factor	NOUN
ejpam-803	8	11	used	use	VERB
ejpam-803	8	12	in	in	ADP
ejpam-803	8	13	prediction	prediction	NOUN
ejpam-803	8	14	models	model	NOUN
ejpam-803	8	15	implemented	implement	VERB
ejpam-803	8	16	using	use	VERB
ejpam-803	8	17	diffusion	diffusion	NOUN
ejpam-803	8	18	index	index	NOUN
ejpam-803	8	19	methodology	methodology	NOUN
ejpam-803	8	20	and	and	CCONJ
ejpam-803	8	21	approaches	approach	NOUN
ejpam-803	8	22	that	that	PRON
ejpam-803	8	23	are	be	AUX
ejpam-803	8	24	useful	useful	ADJ
ejpam-803	8	25	for	for	ADP
ejpam-803	8	26	assessing	assess	VERB
ejpam-803	8	27	whether	whether	SCONJ
ejpam-803	8	28	there	there	PRON
ejpam-803	8	29	are	be	VERB
ejpam-803	8	30	observable	observable	ADJ
ejpam-803	8	31	variables	variable	NOUN
ejpam-803	8	32	that	that	SCONJ
ejpam-803	8	33	adequately	adequately	ADV
ejpam-803	8	34	“	"	PUNCT
ejpam-803	8	35	proxy	proxy	NOUN
ejpam-803	8	36	”	"	PUNCT
ejpam-803	8	37	for	for	ADP
ejpam-803	8	38	estimated	estimate	VERB
ejpam-803	8	39	factors	factor	NOUN
ejpam-803	8	40	.	.	PUNCT
ejpam-803	9	1	2000	2000	NUM
ejpam-803	9	2	mathematics	mathematic	NOUN
ejpam-803	9	3	subject	subject	NOUN
ejpam-803	9	4	classifications	classification	NOUN
ejpam-803	9	5	:	:	PUNCT
ejpam-803	9	6	62m10,62	62m10,62	NUM
ejpam-803	9	7	-	-	SYM
ejpam-803	9	8	07	07	NUM
ejpam-803	9	9	key	key	ADJ
ejpam-803	9	10	words	word	NOUN
ejpam-803	9	11	and	and	CCONJ
ejpam-803	9	12	phrases	phrase	NOUN
ejpam-803	9	13	:	:	PUNCT
ejpam-803	9	14	diffusion	diffusion	NOUN
ejpam-803	9	15	index	index	NOUN
ejpam-803	9	16	,	,	PUNCT
ejpam-803	9	17	factor	factor	NOUN
ejpam-803	9	18	,	,	PUNCT
ejpam-803	9	19	forecast	forecast	NOUN
ejpam-803	9	20	,	,	PUNCT
ejpam-803	9	21	macroeconometrics	macroeconometric	NOUN
ejpam-803	9	22	,	,	PUNCT
ejpam-803	9	23	parameter	parameter	NOUN
ejpam-803	9	24	estimation	estimation	NOUN
ejpam-803	9	25	error	error	NOUN
ejpam-803	9	26	,	,	PUNCT
ejpam-803	9	27	proxy	proxy	NOUN
ejpam-803	9	28	1	1	NUM
ejpam-803	9	29	.	.	PUNCT
ejpam-803	9	30	introduction	introduction	NOUN
ejpam-803	9	31	the	the	DET
ejpam-803	9	32	basic	basic	ADJ
ejpam-803	9	33	premise	premise	NOUN
ejpam-803	9	34	for	for	ADP
ejpam-803	9	35	using	use	VERB
ejpam-803	9	36	diffusion	diffusion	NOUN
ejpam-803	9	37	indices	index	NOUN
ejpam-803	9	38	to	to	PART
ejpam-803	9	39	predict	predict	VERB
ejpam-803	9	40	economic	economic	ADJ
ejpam-803	9	41	variables	variable	NOUN
ejpam-803	9	42	is	be	AUX
ejpam-803	9	43	that	that	SCONJ
ejpam-803	9	44	the	the	DET
ejpam-803	9	45	information	information	NOUN
ejpam-803	9	46	in	in	ADP
ejpam-803	9	47	large	large	ADJ
ejpam-803	9	48	panel	panel	NOUN
ejpam-803	9	49	datasets	dataset	NOUN
ejpam-803	9	50	can	can	AUX
ejpam-803	9	51	be	be	AUX
ejpam-803	9	52	condensed	condense	VERB
ejpam-803	9	53	into	into	ADP
ejpam-803	9	54	a	a	DET
ejpam-803	9	55	small	small	ADJ
ejpam-803	9	56	set	set	NOUN
ejpam-803	9	57	of	of	ADP
ejpam-803	9	58	estimated	estimate	VERB
ejpam-803	9	59	factors	factor	NOUN
ejpam-803	9	60	.	.	PUNCT
ejpam-803	10	1	this	this	PRON
ejpam-803	10	2	suggests	suggest	VERB
ejpam-803	10	3	that	that	SCONJ
ejpam-803	10	4	there	there	PRON
ejpam-803	10	5	is	be	VERB
ejpam-803	10	6	a	a	DET
ejpam-803	10	7	small	small	ADJ
ejpam-803	10	8	set	set	NOUN
ejpam-803	10	9	of	of	ADP
ejpam-803	10	10	crucial	crucial	ADJ
ejpam-803	10	11	latent	latent	NOUN
ejpam-803	10	12	factors	factor	NOUN
ejpam-803	10	13	which	which	PRON
ejpam-803	10	14	generate	generate	VERB
ejpam-803	10	15	the	the	DET
ejpam-803	10	16	co	co	NOUN
ejpam-803	10	17	-	-	NOUN
ejpam-803	10	18	movements	movement	NOUN
ejpam-803	10	19	in	in	ADP
ejpam-803	10	20	a	a	DET
ejpam-803	10	21	large	large	ADJ
ejpam-803	10	22	set	set	NOUN
ejpam-803	10	23	of	of	ADP
ejpam-803	10	24	macroeconomic	macroeconomic	ADJ
ejpam-803	10	25	variables	variable	NOUN
ejpam-803	10	26	.	.	PUNCT
ejpam-803	11	1	in	in	ADP
ejpam-803	11	2	this	this	DET
ejpam-803	11	3	paper	paper	NOUN
ejpam-803	11	4	we	we	PRON
ejpam-803	11	5	review	review	VERB
ejpam-803	11	6	recent	recent	ADJ
ejpam-803	11	7	results	result	NOUN
ejpam-803	11	8	in	in	ADP
ejpam-803	11	9	the	the	DET
ejpam-803	11	10	study	study	NOUN
ejpam-803	11	11	of	of	ADP
ejpam-803	11	12	diffusion	diffusion	NOUN
ejpam-803	11	13	index	index	NOUN
ejpam-803	11	14	models	model	NOUN
ejpam-803	11	15	,	,	PUNCT
ejpam-803	11	16	focusing	focus	VERB
ejpam-803	11	17	primarily	primarily	ADV
ejpam-803	11	18	on	on	ADP
ejpam-803	11	19	advances	advance	NOUN
ejpam-803	11	20	due	due	ADP
ejpam-803	11	21	to	to	ADP
ejpam-803	11	22	[	[	X
ejpam-803	11	23	4	4	NUM
ejpam-803	11	24	,	,	PUNCT
ejpam-803	11	25	5	5	NUM
ejpam-803	11	26	]	]	PUNCT
ejpam-803	11	27	and	and	CCONJ
ejpam-803	11	28	[	[	X
ejpam-803	11	29	1	1	NUM
ejpam-803	11	30	]	]	PUNCT
ejpam-803	11	31	.	.	PUNCT
ejpam-803	12	1	we	we	PRON
ejpam-803	12	2	discuss	discuss	VERB
ejpam-803	12	3	,	,	PUNCT
ejpam-803	12	4	for	for	ADP
ejpam-803	12	5	∗corresponding	∗corresponde	VERB
ejpam-803	12	6	author	author	NOUN
ejpam-803	12	7	.	.	PUNCT
ejpam-803	13	1	†the	†the	DET
ejpam-803	13	2	views	view	NOUN
ejpam-803	13	3	expressed	express	VERB
ejpam-803	13	4	in	in	ADP
ejpam-803	13	5	this	this	DET
ejpam-803	13	6	paper	paper	NOUN
ejpam-803	13	7	are	be	AUX
ejpam-803	13	8	those	those	PRON
ejpam-803	13	9	of	of	ADP
ejpam-803	13	10	the	the	DET
ejpam-803	13	11	authors	author	NOUN
ejpam-803	13	12	.	.	PUNCT
ejpam-803	14	1	no	no	DET
ejpam-803	14	2	responsibility	responsibility	NOUN
ejpam-803	14	3	for	for	ADP
ejpam-803	14	4	them	they	PRON
ejpam-803	14	5	should	should	AUX
ejpam-803	14	6	be	be	AUX
ejpam-803	14	7	attributed	attribute	VERB
ejpam-803	14	8	to	to	ADP
ejpam-803	14	9	the	the	DET
ejpam-803	14	10	bank	bank	PROPN
ejpam-803	14	11	of	of	ADP
ejpam-803	14	12	canada	canada	PROPN
ejpam-803	14	13	.	.	PUNCT
ejpam-803	15	1	email	email	NOUN
ejpam-803	15	2	addresses	address	NOUN
ejpam-803	15	3	:	:	PUNCT
ejpam-803	15	4	narmah	narmah	PROPN
ejpam-803	15	5	�	�	PROPN
ejpam-803	15	6	bankof	bankof	PROPN
ejpam-803	15	7	anada	anada	PROPN
ejpam-803	15	8	.	.	PUNCT
ejpam-803	16	1	a	a	DET
ejpam-803	16	2	(	(	PUNCT
ejpam-803	16	3	n.	n.	NOUN
ejpam-803	16	4	armah	armah	PROPN
ejpam-803	16	5	)	)	PUNCT
ejpam-803	16	6	,	,	PUNCT
ejpam-803	16	7	nswanson	nswanson	PROPN
ejpam-803	16	8	�	�	PROPN
ejpam-803	16	9	e	e	NOUN
ejpam-803	16	10	on.rutgers.edu	on.rutgers.edu	PROPN
ejpam-803	16	11	(	(	PUNCT
ejpam-803	16	12	n.	n.	PROPN
ejpam-803	16	13	swanson	swanson	PROPN
ejpam-803	16	14	)	)	PUNCT
ejpam-803	16	15	http://www.ejpam.com	http://www.ejpam.com	X
ejpam-803	17	1	478	478	NUM
ejpam-803	17	2	c	c	X
ejpam-803	17	3	©	©	PROPN
ejpam-803	17	4	2010	2010	NUM
ejpam-803	17	5	ejpam	ejpam	NOUN
ejpam-803	17	6	all	all	DET
ejpam-803	17	7	rights	right	NOUN
ejpam-803	17	8	reserved	reserve	VERB
ejpam-803	17	9	.	.	PUNCT
ejpam-803	18	1	n.	n.	PROPN
ejpam-803	18	2	armah	armah	PROPN
ejpam-803	18	3	and	and	CCONJ
ejpam-803	18	4	n.	n.	PROPN
ejpam-803	18	5	swanson	swanson	PROPN
ejpam-803	18	6	/	/	SYM
ejpam-803	18	7	eur	eur	PROPN
ejpam-803	18	8	.	.	PUNCT
ejpam-803	19	1	j.	j.	PROPN
ejpam-803	19	2	pure	pure	PROPN
ejpam-803	19	3	appl	appl	PROPN
ejpam-803	19	4	.	.	PROPN
ejpam-803	19	5	math	math	PROPN
ejpam-803	19	6	,	,	PUNCT
ejpam-803	19	7	3	3	NUM
ejpam-803	19	8	(	(	PUNCT
ejpam-803	19	9	2010	2010	NUM
ejpam-803	19	10	)	)	PUNCT
ejpam-803	19	11	,	,	PUNCT
ejpam-803	19	12	478	478	NUM
ejpam-803	19	13	-	-	SYM
ejpam-803	19	14	501	501	NUM
ejpam-803	19	15	479	479	NUM
ejpam-803	19	16	example	example	NOUN
ejpam-803	19	17	,	,	PUNCT
ejpam-803	19	18	the	the	DET
ejpam-803	19	19	construction	construction	NOUN
ejpam-803	19	20	of	of	ADP
ejpam-803	19	21	factors	factor	NOUN
ejpam-803	19	22	used	use	VERB
ejpam-803	19	23	in	in	ADP
ejpam-803	19	24	prediction	prediction	NOUN
ejpam-803	19	25	models	model	NOUN
ejpam-803	19	26	implemented	implement	VERB
ejpam-803	19	27	using	use	VERB
ejpam-803	19	28	diffusion	diffusion	NOUN
ejpam-803	19	29	index	index	NOUN
ejpam-803	19	30	methodology	methodology	NOUN
ejpam-803	19	31	and	and	CCONJ
ejpam-803	19	32	approaches	approach	NOUN
ejpam-803	19	33	that	that	PRON
ejpam-803	19	34	are	be	AUX
ejpam-803	19	35	useful	useful	ADJ
ejpam-803	19	36	for	for	ADP
ejpam-803	19	37	assessing	assess	VERB
ejpam-803	19	38	whether	whether	SCONJ
ejpam-803	19	39	there	there	PRON
ejpam-803	19	40	are	be	VERB
ejpam-803	19	41	observable	observable	ADJ
ejpam-803	19	42	variables	variable	NOUN
ejpam-803	19	43	that	that	SCONJ
ejpam-803	19	44	adequately	adequately	ADV
ejpam-803	19	45	“	"	PUNCT
ejpam-803	19	46	proxy	proxy	NOUN
ejpam-803	19	47	”	"	PUNCT
ejpam-803	19	48	for	for	ADP
ejpam-803	19	49	estimated	estimate	VERB
ejpam-803	19	50	factors	factor	NOUN
ejpam-803	19	51	.	.	PUNCT
ejpam-803	20	1	following	follow	VERB
ejpam-803	20	2	the	the	DET
ejpam-803	20	3	approach	approach	NOUN
ejpam-803	20	4	of	of	ADP
ejpam-803	20	5	[	[	X
ejpam-803	20	6	19	19	NUM
ejpam-803	20	7	,	,	PUNCT
ejpam-803	20	8	19	19	NUM
ejpam-803	20	9	]	]	PUNCT
ejpam-803	20	10	,	,	PUNCT
ejpam-803	20	11	diffusion	diffusion	NOUN
ejpam-803	20	12	index	index	NOUN
ejpam-803	20	13	forecasts	forecast	NOUN
ejpam-803	20	14	involve	involve	VERB
ejpam-803	20	15	a	a	DET
ejpam-803	20	16	two	two	NUM
ejpam-803	20	17	-	-	PUNCT
ejpam-803	20	18	step	step	NOUN
ejpam-803	20	19	procedure	procedure	NOUN
ejpam-803	20	20	.	.	PUNCT
ejpam-803	21	1	first	first	ADV
ejpam-803	21	2	,	,	PUNCT
ejpam-803	21	3	the	the	DET
ejpam-803	21	4	method	method	NOUN
ejpam-803	21	5	of	of	ADP
ejpam-803	21	6	principal	principal	ADJ
ejpam-803	21	7	components	component	NOUN
ejpam-803	21	8	is	be	AUX
ejpam-803	21	9	used	use	VERB
ejpam-803	21	10	to	to	PART
ejpam-803	21	11	estimate	estimate	VERB
ejpam-803	21	12	the	the	DET
ejpam-803	21	13	factors	factor	NOUN
ejpam-803	21	14	from	from	ADP
ejpam-803	21	15	a	a	DET
ejpam-803	21	16	large	large	ADJ
ejpam-803	21	17	panel	panel	NOUN
ejpam-803	21	18	of	of	ADP
ejpam-803	21	19	possible	possible	ADJ
ejpam-803	21	20	predictors	predictor	NOUN
ejpam-803	21	21	,	,	PUNCT
ejpam-803	21	22	x	x	X
ejpam-803	21	23	.	.	PUNCT
ejpam-803	22	1	second	second	ADJ
ejpam-803	22	2	,	,	PUNCT
ejpam-803	22	3	the	the	DET
ejpam-803	22	4	estimated	estimate	VERB
ejpam-803	22	5	factors	factor	NOUN
ejpam-803	22	6	are	be	AUX
ejpam-803	22	7	used	use	VERB
ejpam-803	22	8	to	to	PART
ejpam-803	22	9	forecast	forecast	VERB
ejpam-803	22	10	the	the	DET
ejpam-803	22	11	variable	variable	NOUN
ejpam-803	22	12	of	of	ADP
ejpam-803	22	13	interest	interest	NOUN
ejpam-803	22	14	,	,	PUNCT
ejpam-803	22	15	yt+1	yt+1	X
ejpam-803	22	16	.	.	PUNCT
ejpam-803	23	1	stock	stock	PROPN
ejpam-803	23	2	and	and	CCONJ
ejpam-803	23	3	watson	watson	PROPN
ejpam-803	24	1	[	[	X
ejpam-803	24	2	19	19	NUM
ejpam-803	24	3	]	]	PUNCT
ejpam-803	24	4	demonstrate	demonstrate	VERB
ejpam-803	24	5	that	that	SCONJ
ejpam-803	24	6	diffusion	diffusion	NOUN
ejpam-803	24	7	index	index	NOUN
ejpam-803	24	8	forecasts	forecast	NOUN
ejpam-803	24	9	yield	yield	VERB
ejpam-803	24	10	encouraging	encouraging	ADJ
ejpam-803	24	11	results	result	NOUN
ejpam-803	24	12	.	.	PUNCT
ejpam-803	25	1	bai	bai	PROPN
ejpam-803	25	2	and	and	CCONJ
ejpam-803	25	3	ng	ng	PROPN
ejpam-803	26	1	[	[	X
ejpam-803	26	2	4	4	NUM
ejpam-803	26	3	]	]	PUNCT
ejpam-803	26	4	,	,	PUNCT
ejpam-803	26	5	however	however	ADV
ejpam-803	26	6	,	,	PUNCT
ejpam-803	26	7	point	point	VERB
ejpam-803	26	8	out	out	ADP
ejpam-803	26	9	that	that	SCONJ
ejpam-803	26	10	the	the	DET
ejpam-803	26	11	regressors	regressor	NOUN
ejpam-803	26	12	(	(	PUNCT
ejpam-803	26	13	factors	factor	NOUN
ejpam-803	26	14	)	)	PUNCT
ejpam-803	26	15	in	in	ADP
ejpam-803	26	16	the	the	DET
ejpam-803	26	17	diffusion	diffusion	NOUN
ejpam-803	26	18	index	index	NOUN
ejpam-803	26	19	model	model	NOUN
ejpam-803	26	20	are	be	AUX
ejpam-803	26	21	estimated	estimate	VERB
ejpam-803	26	22	,	,	PUNCT
ejpam-803	26	23	hence	hence	ADV
ejpam-803	26	24	substantially	substantially	ADV
ejpam-803	26	25	increasing	increase	VERB
ejpam-803	26	26	the	the	DET
ejpam-803	26	27	forecast	forecast	NOUN
ejpam-803	26	28	error	error	NOUN
ejpam-803	26	29	variance	variance	NOUN
ejpam-803	26	30	.	.	PUNCT
ejpam-803	27	1	in	in	ADP
ejpam-803	27	2	a	a	DET
ejpam-803	27	3	related	related	ADJ
ejpam-803	27	4	paper	paper	NOUN
ejpam-803	27	5	,	,	PUNCT
ejpam-803	27	6	[	[	X
ejpam-803	27	7	5	5	NUM
ejpam-803	27	8	]	]	PUNCT
ejpam-803	27	9	examine	examine	VERB
ejpam-803	27	10	whether	whether	SCONJ
ejpam-803	27	11	observable	observable	ADJ
ejpam-803	27	12	economic	economic	ADJ
ejpam-803	27	13	variables	variable	NOUN
ejpam-803	27	14	can	can	AUX
ejpam-803	27	15	serve	serve	VERB
ejpam-803	27	16	as	as	ADP
ejpam-803	27	17	proxies	proxy	NOUN
ejpam-803	27	18	for	for	ADP
ejpam-803	27	19	the	the	DET
ejpam-803	27	20	underlying	underlying	ADJ
ejpam-803	27	21	unobserved	unobserved	ADJ
ejpam-803	27	22	factors	factor	NOUN
ejpam-803	27	23	.	.	PUNCT
ejpam-803	28	1	in	in	ADP
ejpam-803	28	2	particular	particular	ADJ
ejpam-803	28	3	,	,	PUNCT
ejpam-803	28	4	they	they	PRON
ejpam-803	28	5	use	use	VERB
ejpam-803	28	6	the	the	DET
ejpam-803	28	7	a	a	PROPN
ejpam-803	28	8	(	(	PUNCT
ejpam-803	28	9	j	j	NOUN
ejpam-803	28	10	)	)	PUNCT
ejpam-803	28	11	and	and	CCONJ
ejpam-803	28	12	m	m	PROPN
ejpam-803	28	13	(	(	PUNCT
ejpam-803	28	14	j	j	NOUN
ejpam-803	28	15	)	)	PUNCT
ejpam-803	28	16	statistics	statistic	NOUN
ejpam-803	28	17	to	to	PART
ejpam-803	28	18	determine	determine	VERB
ejpam-803	28	19	whether	whether	SCONJ
ejpam-803	28	20	a	a	DET
ejpam-803	28	21	group	group	NOUN
ejpam-803	28	22	of	of	ADP
ejpam-803	28	23	observed	observed	ADJ
ejpam-803	28	24	variables	variable	NOUN
ejpam-803	28	25	yields	yield	VERB
ejpam-803	28	26	precisely	precisely	ADV
ejpam-803	28	27	the	the	DET
ejpam-803	28	28	same	same	ADJ
ejpam-803	28	29	information	information	NOUN
ejpam-803	28	30	as	as	ADP
ejpam-803	28	31	that	that	PRON
ejpam-803	28	32	contained	contain	VERB
ejpam-803	28	33	in	in	ADP
ejpam-803	28	34	the	the	DET
ejpam-803	28	35	latent	latent	NOUN
ejpam-803	28	36	factors	factor	NOUN
ejpam-803	28	37	.	.	PUNCT
ejpam-803	29	1	stock	stock	NOUN
ejpam-803	29	2	and	and	CCONJ
ejpam-803	29	3	watson	watson	PROPN
ejpam-803	30	1	[	[	X
ejpam-803	30	2	19	19	NUM
ejpam-803	30	3	]	]	PUNCT
ejpam-803	30	4	have	have	AUX
ejpam-803	30	5	also	also	ADV
ejpam-803	30	6	attempted	attempt	VERB
ejpam-803	30	7	to	to	PART
ejpam-803	30	8	link	link	VERB
ejpam-803	30	9	the	the	DET
ejpam-803	30	10	factors	factor	NOUN
ejpam-803	30	11	to	to	ADP
ejpam-803	30	12	observed	observed	ADJ
ejpam-803	30	13	variables	variable	NOUN
ejpam-803	30	14	.	.	PUNCT
ejpam-803	31	1	armah	armah	PROPN
ejpam-803	31	2	and	and	CCONJ
ejpam-803	31	3	swanson	swanson	PROPN
ejpam-803	32	1	[	[	X
ejpam-803	32	2	1	1	NUM
ejpam-803	32	3	]	]	PUNCT
ejpam-803	32	4	argue	argue	VERB
ejpam-803	32	5	that	that	SCONJ
ejpam-803	32	6	if	if	SCONJ
ejpam-803	32	7	observable	observable	ADJ
ejpam-803	32	8	economic	economic	ADJ
ejpam-803	32	9	variables	variable	NOUN
ejpam-803	32	10	are	be	AUX
ejpam-803	32	11	indeed	indeed	ADV
ejpam-803	32	12	good	good	ADJ
ejpam-803	32	13	proxies	proxy	NOUN
ejpam-803	32	14	of	of	ADP
ejpam-803	32	15	the	the	DET
ejpam-803	32	16	unobserved	unobserved	ADJ
ejpam-803	32	17	factors	factor	NOUN
ejpam-803	32	18	,	,	PUNCT
ejpam-803	32	19	then	then	ADV
ejpam-803	32	20	these	these	DET
ejpam-803	32	21	proxies	proxy	NOUN
ejpam-803	32	22	can	can	AUX
ejpam-803	32	23	be	be	AUX
ejpam-803	32	24	used	use	VERB
ejpam-803	32	25	in	in	ADP
ejpam-803	32	26	place	place	NOUN
ejpam-803	32	27	of	of	ADP
ejpam-803	32	28	the	the	DET
ejpam-803	32	29	factors	factor	NOUN
ejpam-803	32	30	in	in	ADP
ejpam-803	32	31	the	the	DET
ejpam-803	32	32	diffusion	diffusion	NOUN
ejpam-803	32	33	index	index	NOUN
ejpam-803	32	34	model	model	NOUN
ejpam-803	32	35	for	for	ADP
ejpam-803	32	36	prediction	prediction	NOUN
ejpam-803	32	37	.	.	PUNCT
ejpam-803	33	1	once	once	SCONJ
ejpam-803	33	2	the	the	DET
ejpam-803	33	3	set	set	NOUN
ejpam-803	33	4	of	of	ADP
ejpam-803	33	5	factor	factor	NOUN
ejpam-803	33	6	proxies	proxy	NOUN
ejpam-803	33	7	is	be	AUX
ejpam-803	33	8	fixed	fix	VERB
ejpam-803	33	9	,	,	PUNCT
ejpam-803	33	10	one	one	NUM
ejpam-803	33	11	effectively	effectively	ADV
ejpam-803	33	12	eliminates	eliminate	VERB
ejpam-803	33	13	the	the	DET
ejpam-803	33	14	incremental	incremental	ADJ
ejpam-803	33	15	increase	increase	NOUN
ejpam-803	33	16	in	in	ADP
ejpam-803	33	17	forecast	forecast	NOUN
ejpam-803	33	18	error	error	NOUN
ejpam-803	33	19	variance	variance	NOUN
ejpam-803	33	20	(	(	PUNCT
ejpam-803	33	21	i.e.	i.e.	X
ejpam-803	33	22	,	,	PUNCT
ejpam-803	33	23	uncertainty	uncertainty	NOUN
ejpam-803	33	24	)	)	PUNCT
ejpam-803	33	25	associated	associate	VERB
ejpam-803	33	26	with	with	ADP
ejpam-803	33	27	the	the	DET
ejpam-803	33	28	use	use	NOUN
ejpam-803	33	29	of	of	ADP
ejpam-803	33	30	estimated	estimate	VERB
ejpam-803	33	31	factors	factor	NOUN
ejpam-803	33	32	.	.	PUNCT
ejpam-803	34	1	along	along	ADP
ejpam-803	34	2	these	these	DET
ejpam-803	34	3	lines	line	NOUN
ejpam-803	34	4	,	,	PUNCT
ejpam-803	34	5	they	they	PRON
ejpam-803	34	6	consider	consider	VERB
ejpam-803	34	7	“	"	PUNCT
ejpam-803	34	8	smoothed	smooth	VERB
ejpam-803	34	9	”	"	PUNCT
ejpam-803	34	10	versions	version	NOUN
ejpam-803	34	11	of	of	ADP
ejpam-803	34	12	the	the	DET
ejpam-803	34	13	a	a	PROPN
ejpam-803	34	14	(	(	PUNCT
ejpam-803	34	15	j	j	NOUN
ejpam-803	34	16	)	)	PUNCT
ejpam-803	34	17	and	and	CCONJ
ejpam-803	34	18	m	m	PROPN
ejpam-803	34	19	(	(	PUNCT
ejpam-803	34	20	j	j	NOUN
ejpam-803	34	21	)	)	PUNCT
ejpam-803	34	22	statistics	statistic	NOUN
ejpam-803	34	23	that	that	SCONJ
ejpam-803	34	24	pre	pre	VERB
ejpam-803	34	25	-	-	VERB
ejpam-803	34	26	select	select	VERB
ejpam-803	34	27	a	a	DET
ejpam-803	34	28	set	set	NOUN
ejpam-803	34	29	of	of	ADP
ejpam-803	34	30	factor	factor	NOUN
ejpam-803	34	31	proxies	proxy	NOUN
ejpam-803	34	32	prior	prior	ADV
ejpam-803	34	33	to	to	ADP
ejpam-803	34	34	the	the	DET
ejpam-803	34	35	ex	ex	NOUN
ejpam-803	34	36	-	-	NOUN
ejpam-803	34	37	ante	ante	ADJ
ejpam-803	34	38	construction	construction	NOUN
ejpam-803	34	39	of	of	ADP
ejpam-803	34	40	a	a	DET
ejpam-803	34	41	sequence	sequence	NOUN
ejpam-803	34	42	of	of	ADP
ejpam-803	34	43	predictions	prediction	NOUN
ejpam-803	34	44	.	.	PUNCT
ejpam-803	35	1	armah	armah	PROPN
ejpam-803	35	2	and	and	CCONJ
ejpam-803	35	3	swanson	swanson	PROPN
ejpam-803	36	1	[	[	X
ejpam-803	36	2	1	1	NUM
ejpam-803	36	3	]	]	PUNCT
ejpam-803	36	4	carry	carry	VERB
ejpam-803	36	5	out	out	ADP
ejpam-803	36	6	a	a	DET
ejpam-803	36	7	large	large	ADJ
ejpam-803	36	8	variety	variety	NOUN
ejpam-803	36	9	of	of	ADP
ejpam-803	36	10	prediction	prediction	NOUN
ejpam-803	36	11	experiments	experiment	NOUN
ejpam-803	36	12	using	use	VERB
ejpam-803	36	13	the	the	DET
ejpam-803	36	14	macroeconomic	macroeconomic	ADJ
ejpam-803	36	15	dataset	dataset	NOUN
ejpam-803	36	16	of	of	ADP
ejpam-803	36	17	[	[	X
ejpam-803	36	18	22	22	NUM
ejpam-803	36	19	]	]	PUNCT
ejpam-803	36	20	in	in	ADP
ejpam-803	36	21	order	order	NOUN
ejpam-803	36	22	to	to	PART
ejpam-803	36	23	assess	assess	VERB
ejpam-803	36	24	their	their	PRON
ejpam-803	36	25	new	new	ADJ
ejpam-803	36	26	methodology	methodology	NOUN
ejpam-803	36	27	,	,	PUNCT
ejpam-803	36	28	and	and	CCONJ
ejpam-803	36	29	we	we	PRON
ejpam-803	36	30	summarize	summarize	VERB
ejpam-803	36	31	many	many	ADJ
ejpam-803	36	32	of	of	ADP
ejpam-803	36	33	their	their	PRON
ejpam-803	36	34	findings	finding	NOUN
ejpam-803	36	35	here	here	ADV
ejpam-803	36	36	,	,	PUNCT
ejpam-803	36	37	some	some	PRON
ejpam-803	36	38	of	of	ADP
ejpam-803	36	39	which	which	PRON
ejpam-803	36	40	show	show	VERB
ejpam-803	36	41	that	that	SCONJ
ejpam-803	36	42	the	the	DET
ejpam-803	36	43	a	a	PROPN
ejpam-803	36	44	(	(	PUNCT
ejpam-803	36	45	j	j	NOUN
ejpam-803	36	46	)	)	PUNCT
ejpam-803	36	47	and	and	CCONJ
ejpam-803	36	48	m	m	PROPN
ejpam-803	36	49	(	(	PUNCT
ejpam-803	36	50	j	j	NOUN
ejpam-803	36	51	)	)	PUNCT
ejpam-803	36	52	statistics	statistic	NOUN
ejpam-803	36	53	appear	appear	VERB
ejpam-803	36	54	to	to	PART
ejpam-803	36	55	offer	offer	VERB
ejpam-803	36	56	an	an	DET
ejpam-803	36	57	interesting	interesting	ADJ
ejpam-803	36	58	means	mean	NOUN
ejpam-803	36	59	by	by	ADP
ejpam-803	36	60	which	which	PRON
ejpam-803	36	61	factor	factor	NOUN
ejpam-803	36	62	proxies	proxy	NOUN
ejpam-803	36	63	for	for	ADP
ejpam-803	36	64	later	later	ADJ
ejpam-803	36	65	use	use	NOUN
ejpam-803	36	66	in	in	ADP
ejpam-803	36	67	prediction	prediction	NOUN
ejpam-803	36	68	models	model	NOUN
ejpam-803	36	69	can	can	AUX
ejpam-803	36	70	be	be	AUX
ejpam-803	36	71	chosen	choose	VERB
ejpam-803	36	72	.	.	PUNCT
ejpam-803	37	1	indeed	indeed	ADV
ejpam-803	37	2	,	,	PUNCT
ejpam-803	37	3	their	their	PRON
ejpam-803	37	4	“	"	PUNCT
ejpam-803	37	5	smoothed	smooth	VERB
ejpam-803	37	6	”	"	PUNCT
ejpam-803	37	7	approaches	approach	NOUN
ejpam-803	37	8	to	to	PART
ejpam-803	37	9	factor	factor	NOUN
ejpam-803	37	10	proxy	proxy	NOUN
ejpam-803	37	11	selection	selection	NOUN
ejpam-803	37	12	appear	appear	VERB
ejpam-803	37	13	to	to	PART
ejpam-803	37	14	yield	yield	VERB
ejpam-803	37	15	predictions	prediction	NOUN
ejpam-803	37	16	that	that	PRON
ejpam-803	37	17	are	be	AUX
ejpam-803	37	18	often	often	ADV
ejpam-803	37	19	mean	mean	VERB
ejpam-803	37	20	square	square	ADJ
ejpam-803	37	21	forecast	forecast	NOUN
ejpam-803	37	22	error	error	NOUN
ejpam-803	37	23	“	"	PUNCT
ejpam-803	37	24	superior	superior	ADJ
ejpam-803	37	25	”	"	PUNCT
ejpam-803	37	26	not	not	PART
ejpam-803	37	27	only	only	ADV
ejpam-803	37	28	relative	relative	ADJ
ejpam-803	37	29	to	to	ADP
ejpam-803	37	30	a	a	DET
ejpam-803	37	31	benchmark	benchmark	ADJ
ejpam-803	37	32	factor	factor	NOUN
ejpam-803	37	33	model	model	NOUN
ejpam-803	37	34	,	,	PUNCT
ejpam-803	37	35	but	but	CCONJ
ejpam-803	37	36	also	also	ADV
ejpam-803	37	37	to	to	ADP
ejpam-803	37	38	simple	simple	ADJ
ejpam-803	37	39	linear	linear	ADJ
ejpam-803	37	40	time	time	NOUN
ejpam-803	37	41	series	series	PROPN
ejpam-803	37	42	models	model	NOUN
ejpam-803	37	43	which	which	PRON
ejpam-803	37	44	are	be	AUX
ejpam-803	37	45	often	often	ADV
ejpam-803	37	46	difficult	difficult	ADJ
ejpam-803	37	47	to	to	PART
ejpam-803	37	48	beat	beat	VERB
ejpam-803	37	49	in	in	ADP
ejpam-803	37	50	forecasting	forecasting	NOUN
ejpam-803	37	51	competitions	competition	NOUN
ejpam-803	37	52	.	.	PUNCT
ejpam-803	38	1	the	the	DET
ejpam-803	38	2	rest	rest	NOUN
ejpam-803	38	3	of	of	ADP
ejpam-803	38	4	the	the	DET
ejpam-803	38	5	paper	paper	NOUN
ejpam-803	38	6	is	be	AUX
ejpam-803	38	7	organized	organize	VERB
ejpam-803	38	8	as	as	SCONJ
ejpam-803	38	9	follows	follow	VERB
ejpam-803	38	10	.	.	PUNCT
ejpam-803	39	1	in	in	ADP
ejpam-803	39	2	section	section	NOUN
ejpam-803	39	3	2	2	NUM
ejpam-803	39	4	we	we	PRON
ejpam-803	39	5	review	review	VERB
ejpam-803	39	6	certain	certain	ADJ
ejpam-803	39	7	important	important	ADJ
ejpam-803	39	8	elements	element	NOUN
ejpam-803	39	9	of	of	ADP
ejpam-803	39	10	the	the	DET
ejpam-803	39	11	diffusion	diffusion	NOUN
ejpam-803	39	12	index	index	NOUN
ejpam-803	39	13	literature	literature	NOUN
ejpam-803	39	14	,	,	PUNCT
ejpam-803	39	15	with	with	ADP
ejpam-803	39	16	some	some	DET
ejpam-803	39	17	focus	focus	NOUN
ejpam-803	39	18	on	on	ADP
ejpam-803	39	19	the	the	DET
ejpam-803	39	20	methods	method	NOUN
ejpam-803	39	21	used	use	VERB
ejpam-803	39	22	by	by	ADP
ejpam-803	39	23	the	the	DET
ejpam-803	39	24	above	above	ADJ
ejpam-803	39	25	authors	author	NOUN
ejpam-803	39	26	.	.	PUNCT
ejpam-803	40	1	in	in	ADP
ejpam-803	40	2	section	section	NOUN
ejpam-803	40	3	3	3	NUM
ejpam-803	40	4	we	we	PRON
ejpam-803	40	5	discuss	discuss	VERB
ejpam-803	40	6	the	the	DET
ejpam-803	40	7	use	use	NOUN
ejpam-803	40	8	of	of	ADP
ejpam-803	40	9	factor	factor	NOUN
ejpam-803	40	10	proxies	proxy	NOUN
ejpam-803	40	11	,	,	PUNCT
ejpam-803	40	12	and	and	CCONJ
ejpam-803	40	13	section	section	NOUN
ejpam-803	40	14	4	4	NUM
ejpam-803	40	15	contains	contain	VERB
ejpam-803	40	16	a	a	DET
ejpam-803	40	17	summary	summary	NOUN
ejpam-803	40	18	of	of	ADP
ejpam-803	40	19	recent	recent	ADJ
ejpam-803	40	20	empirical	empirical	ADJ
ejpam-803	40	21	findings	finding	NOUN
ejpam-803	40	22	on	on	ADP
ejpam-803	40	23	proxy	proxy	ADJ
ejpam-803	40	24	construction	construction	NOUN
ejpam-803	40	25	.	.	PUNCT
ejpam-803	41	1	section	section	NOUN
ejpam-803	41	2	5	5	NUM
ejpam-803	41	3	briefly	briefly	ADV
ejpam-803	41	4	discuss	discuss	VERB
ejpam-803	41	5	open	open	ADJ
ejpam-803	41	6	issues	issue	NOUN
ejpam-803	41	7	in	in	ADP
ejpam-803	41	8	the	the	DET
ejpam-803	41	9	empirical	empirical	ADJ
ejpam-803	41	10	literature	literature	NOUN
ejpam-803	41	11	,	,	PUNCT
ejpam-803	41	12	and	and	CCONJ
ejpam-803	41	13	concluding	conclude	VERB
ejpam-803	41	14	remarks	remark	NOUN
ejpam-803	41	15	are	be	AUX
ejpam-803	41	16	gathered	gather	VERB
ejpam-803	41	17	in	in	ADP
ejpam-803	41	18	section	section	NOUN
ejpam-803	41	19	5	5	NUM
ejpam-803	41	20	.	.	SYM
ejpam-803	41	21	2	2	NUM
ejpam-803	41	22	.	.	NOUN
ejpam-803	41	23	diffusion	diffusion	NOUN
ejpam-803	41	24	index	index	NOUN
ejpam-803	41	25	methodology	methodology	NOUN
ejpam-803	41	26	summarizing	summarize	VERB
ejpam-803	41	27	the	the	DET
ejpam-803	41	28	discussion	discussion	NOUN
ejpam-803	41	29	in	in	ADP
ejpam-803	41	30	[	[	X
ejpam-803	41	31	1	1	NUM
ejpam-803	41	32	]	]	PUNCT
ejpam-803	41	33	,	,	PUNCT
ejpam-803	41	34	let	let	VERB
ejpam-803	41	35	yt+1	yt+1	PRON
ejpam-803	41	36	be	be	AUX
ejpam-803	41	37	the	the	DET
ejpam-803	41	38	series	series	NOUN
ejpam-803	41	39	we	we	PRON
ejpam-803	41	40	wish	wish	VERB
ejpam-803	41	41	to	to	PART
ejpam-803	41	42	forecast	forecast	VERB
ejpam-803	41	43	and	and	CCONJ
ejpam-803	41	44	x	x	SYM
ejpam-803	41	45	t	t	PROPN
ejpam-803	41	46	be	be	AUX
ejpam-803	41	47	an	an	DET
ejpam-803	41	48	n	n	CCONJ
ejpam-803	41	49	-dimensional	-dimensional	ADJ
ejpam-803	41	50	vector	vector	NOUN
ejpam-803	41	51	of	of	ADP
ejpam-803	41	52	predictor	predictor	NOUN
ejpam-803	41	53	variables	variable	NOUN
ejpam-803	41	54	,	,	PUNCT
ejpam-803	41	55	for	for	ADP
ejpam-803	41	56	t	t	NOUN
ejpam-803	41	57	=	=	SYM
ejpam-803	41	58	1	1	NUM
ejpam-803	41	59	,	,	PUNCT
ejpam-803	41	60	.	.	PUNCT
ejpam-803	41	61	.	.	PUNCT
ejpam-803	42	1	.	.	PUNCT
ejpam-803	43	1	,	,	PUNCT
ejpam-803	43	2	t	t	PROPN
ejpam-803	43	3	.	.	PUNCT
ejpam-803	44	1	assume	assume	VERB
ejpam-803	44	2	that	that	SCONJ
ejpam-803	44	3	(	(	PUNCT
ejpam-803	44	4	yt+1	yt+1	X
ejpam-803	44	5	,	,	PUNCT
ejpam-803	44	6	x	x	PROPN
ejpam-803	44	7	t	t	PROPN
ejpam-803	44	8	)	)	PUNCT
ejpam-803	44	9	has	have	VERB
ejpam-803	44	10	a	a	DET
ejpam-803	44	11	dynamic	dynamic	ADJ
ejpam-803	44	12	factor	factor	NOUN
ejpam-803	44	13	model	model	NOUN
ejpam-803	44	14	representation	representation	NOUN
ejpam-803	44	15	with	with	ADP
ejpam-803	44	16	r	r	NOUN
ejpam-803	44	17	common	common	ADJ
ejpam-803	44	18	dynamic	dynamic	ADJ
ejpam-803	44	19	factors	factor	NOUN
ejpam-803	44	20	,	,	PUNCT
ejpam-803	44	21	ft	ft	X
ejpam-803	44	22	.	.	PUNCT
ejpam-803	45	1	hence	hence	ADV
ejpam-803	45	2	,	,	PUNCT
ejpam-803	45	3	ft	ft	PROPN
ejpam-803	45	4	is	be	AUX
ejpam-803	45	5	an	an	DET
ejpam-803	45	6	r	r	NOUN
ejpam-803	45	7	×	×	NOUN
ejpam-803	45	8	1	1	NUM
ejpam-803	45	9	vector	vector	NOUN
ejpam-803	45	10	.	.	PUNCT
ejpam-803	46	1	the	the	DET
ejpam-803	46	2	dynamic	dynamic	ADJ
ejpam-803	46	3	factor	factor	NOUN
ejpam-803	46	4	model	model	NOUN
ejpam-803	46	5	is	be	AUX
ejpam-803	46	6	written	write	VERB
ejpam-803	46	7	as	as	ADP
ejpam-803	46	8	:	:	PUNCT
ejpam-803	46	9	yt+h	yt+h	X
ejpam-803	46	10	=	=	SYM
ejpam-803	46	11	α(l	α(l	NOUN
ejpam-803	46	12	)	)	PUNCT
ejpam-803	46	13	ft	ft	NOUN
ejpam-803	47	1	+	+	CCONJ
ejpam-803	47	2	β	β	X
ejpam-803	47	3	′wt	′wt	NOUN
ejpam-803	47	4	+	+	CCONJ
ejpam-803	47	5	ǫt+h	ǫt+h	PROPN
ejpam-803	47	6	(	(	PUNCT
ejpam-803	47	7	1	1	NUM
ejpam-803	47	8	)	)	PUNCT
ejpam-803	47	9	and	and	CCONJ
ejpam-803	47	10	x	x	X
ejpam-803	48	1	i	i	NOUN
ejpam-803	48	2	t	t	NOUN
ejpam-803	48	3	=	=	PUNCT
ejpam-803	48	4	λi(l	λi(l	X
ejpam-803	48	5	)	)	PUNCT
ejpam-803	48	6	ft	ft	PROPN
ejpam-803	49	1	+	+	NUM
ejpam-803	49	2	ei	ei	X
ejpam-803	49	3	t	t	NOUN
ejpam-803	49	4	,	,	PUNCT
ejpam-803	49	5	(	(	PUNCT
ejpam-803	49	6	2	2	X
ejpam-803	49	7	)	)	PUNCT
ejpam-803	49	8	n.	n.	NOUN
ejpam-803	49	9	armah	armah	NOUN
ejpam-803	49	10	and	and	CCONJ
ejpam-803	49	11	n.	n.	PROPN
ejpam-803	49	12	swanson	swanson	PROPN
ejpam-803	49	13	/	/	SYM
ejpam-803	49	14	eur	eur	PROPN
ejpam-803	49	15	.	.	PUNCT
ejpam-803	50	1	j.	j.	PROPN
ejpam-803	50	2	pure	pure	PROPN
ejpam-803	50	3	appl	appl	PROPN
ejpam-803	50	4	.	.	PROPN
ejpam-803	50	5	math	math	PROPN
ejpam-803	50	6	,	,	PUNCT
ejpam-803	50	7	3	3	NUM
ejpam-803	50	8	(	(	PUNCT
ejpam-803	50	9	2010	2010	NUM
ejpam-803	50	10	)	)	PUNCT
ejpam-803	50	11	,	,	PUNCT
ejpam-803	50	12	478	478	NUM
ejpam-803	50	13	-	-	SYM
ejpam-803	50	14	501	501	NUM
ejpam-803	50	15	480	480	NUM
ejpam-803	50	16	for	for	ADP
ejpam-803	50	17	i	i	PRON
ejpam-803	50	18	=	=	SYM
ejpam-803	50	19	1,2	1,2	NUM
ejpam-803	50	20	,	,	PUNCT
ejpam-803	50	21	.	.	PUNCT
ejpam-803	50	22	.	.	PUNCT
ejpam-803	51	1	.	.	PUNCT
ejpam-803	52	1	,	,	PUNCT
ejpam-803	52	2	n	n	X
ejpam-803	52	3	,	,	PUNCT
ejpam-803	52	4	where	where	SCONJ
ejpam-803	52	5	wt	wt	NOUN
ejpam-803	52	6	is	be	AUX
ejpam-803	52	7	an	an	DET
ejpam-803	52	8	l	l	NOUN
ejpam-803	52	9	×	×	NOUN
ejpam-803	52	10	1	1	NUM
ejpam-803	52	11	vector	vector	NOUN
ejpam-803	52	12	of	of	ADP
ejpam-803	52	13	other	other	ADJ
ejpam-803	52	14	observable	observable	ADJ
ejpam-803	52	15	variables	variable	NOUN
ejpam-803	52	16	with	with	ADP
ejpam-803	52	17	l	l	NOUN
ejpam-803	52	18	≪	≪	PROPN
ejpam-803	52	19	n	n	X
ejpam-803	52	20	,	,	PUNCT
ejpam-803	52	21	such	such	ADJ
ejpam-803	52	22	as	as	ADP
ejpam-803	52	23	contemporaneous	contemporaneous	ADJ
ejpam-803	52	24	and	and	CCONJ
ejpam-803	52	25	lagged	lag	VERB
ejpam-803	52	26	values	value	NOUN
ejpam-803	52	27	of	of	ADP
ejpam-803	52	28	yt	yt	NOUN
ejpam-803	52	29	;	;	PUNCT
ejpam-803	52	30	h	h	PROPN
ejpam-803	52	31	>	>	X
ejpam-803	52	32	0	0	PUNCT
ejpam-803	52	33	is	be	AUX
ejpam-803	52	34	the	the	DET
ejpam-803	52	35	lead	lead	ADJ
ejpam-803	52	36	time	time	NOUN
ejpam-803	52	37	between	between	ADP
ejpam-803	52	38	information	information	NOUN
ejpam-803	52	39	available	available	ADJ
ejpam-803	52	40	and	and	CCONJ
ejpam-803	52	41	the	the	DET
ejpam-803	52	42	dependent	dependent	ADJ
ejpam-803	52	43	variable	variable	NOUN
ejpam-803	52	44	;	;	PUNCT
ejpam-803	52	45	x	x	X
ejpam-803	52	46	i	i	NOUN
ejpam-803	52	47	t	t	PROPN
ejpam-803	52	48	is	be	AUX
ejpam-803	52	49	a	a	DET
ejpam-803	52	50	single	single	ADJ
ejpam-803	52	51	datum	datum	NOUN
ejpam-803	52	52	for	for	ADP
ejpam-803	52	53	a	a	DET
ejpam-803	52	54	particular	particular	ADJ
ejpam-803	52	55	predictor	predictor	NOUN
ejpam-803	52	56	variable	variable	NOUN
ejpam-803	52	57	;	;	PUNCT
ejpam-803	52	58	ei	ei	PROPN
ejpam-803	52	59	t	t	PROPN
ejpam-803	52	60	is	be	AUX
ejpam-803	52	61	the	the	DET
ejpam-803	52	62	idiosyncratic	idiosyncratic	ADJ
ejpam-803	52	63	shock	shock	NOUN
ejpam-803	52	64	component	component	NOUN
ejpam-803	52	65	of	of	ADP
ejpam-803	52	66	x	x	PROPN
ejpam-803	52	67	i	i	NOUN
ejpam-803	52	68	t	t	X
ejpam-803	52	69	;	;	PUNCT
ejpam-803	52	70	and	and	CCONJ
ejpam-803	52	71	α(l	α(l	NOUN
ejpam-803	52	72	)	)	PUNCT
ejpam-803	52	73	and	and	CCONJ
ejpam-803	52	74	λi(l	λi(l	PUNCT
ejpam-803	52	75	)	)	PUNCT
ejpam-803	52	76	are	be	AUX
ejpam-803	52	77	lag	lag	NOUN
ejpam-803	52	78	polynomials	polynomial	NOUN
ejpam-803	52	79	in	in	ADP
ejpam-803	52	80	nonnegative	nonnegative	ADJ
ejpam-803	52	81	powers	power	NOUN
ejpam-803	52	82	of	of	ADP
ejpam-803	52	83	l.	l.	PROPN
ejpam-803	52	84	in	in	ADP
ejpam-803	52	85	general	general	ADJ
ejpam-803	52	86	,	,	PUNCT
ejpam-803	52	87	dynamic	dynamic	ADJ
ejpam-803	52	88	factor	factor	NOUN
ejpam-803	52	89	models	model	NOUN
ejpam-803	52	90	can	can	AUX
ejpam-803	52	91	be	be	AUX
ejpam-803	52	92	transformed	transform	VERB
ejpam-803	52	93	into	into	ADP
ejpam-803	52	94	static	static	ADJ
ejpam-803	52	95	factor	factor	NOUN
ejpam-803	52	96	models	model	NOUN
ejpam-803	52	97	.	.	PUNCT
ejpam-803	53	1	in	in	ADP
ejpam-803	53	2	[	[	X
ejpam-803	53	3	19	19	NUM
ejpam-803	53	4	]	]	PUNCT
ejpam-803	53	5	,	,	PUNCT
ejpam-803	53	6	the	the	DET
ejpam-803	53	7	lag	lag	NOUN
ejpam-803	53	8	polynomials	polynomial	NOUN
ejpam-803	53	9	α(l	α(l	NOUN
ejpam-803	53	10	)	)	PUNCT
ejpam-803	53	11	and	and	CCONJ
ejpam-803	53	12	λi(l	λi(l	PUNCT
ejpam-803	53	13	)	)	PUNCT
ejpam-803	53	14	are	be	AUX
ejpam-803	53	15	modeled	model	VERB
ejpam-803	53	16	as	as	ADP
ejpam-803	53	17	α(l	α(l	NOUN
ejpam-803	53	18	)	)	PUNCT
ejpam-803	53	19	=	=	PUNCT
ejpam-803	54	1	∑	∑	PUNCT
ejpam-803	54	2	_	_	PUNCT
ejpam-803	54	3	j	j	X
ejpam-803	55	1	=	=	PUNCT
ejpam-803	55	2	0qα	0qα	NOUN
ejpam-803	55	3	j	j	PROPN
ejpam-803	55	4	l	l	PROPN
ejpam-803	55	5	j	j	PROPN
ejpam-803	55	6	and	and	CCONJ
ejpam-803	55	7	λi(l	λi(l	NUM
ejpam-803	55	8	)	)	PUNCT
ejpam-803	56	1	=	=	VERB
ejpam-803	56	2	∑q	∑q	PROPN
ejpam-803	56	3	j=0λi	j=0λi	PROPN
ejpam-803	56	4	j	j	PROPN
ejpam-803	56	5	l	l	PROPN
ejpam-803	56	6	j	j	PROPN
ejpam-803	56	7	.	.	PUNCT
ejpam-803	57	1	the	the	DET
ejpam-803	57	2	finite	finite	ADJ
ejpam-803	57	3	order	order	NOUN
ejpam-803	57	4	of	of	ADP
ejpam-803	57	5	the	the	DET
ejpam-803	57	6	lag	lag	NOUN
ejpam-803	57	7	polynomials	polynomial	NOUN
ejpam-803	57	8	allows	allow	VERB
ejpam-803	57	9	us	we	PRON
ejpam-803	57	10	to	to	PART
ejpam-803	57	11	rewrite	rewrite	VERB
ejpam-803	57	12	(	(	PUNCT
ejpam-803	57	13	1	1	NUM
ejpam-803	57	14	)	)	PUNCT
ejpam-803	57	15	and	and	CCONJ
ejpam-803	57	16	(	(	PUNCT
ejpam-803	57	17	2	2	X
ejpam-803	57	18	)	)	PUNCT
ejpam-803	57	19	as	as	ADP
ejpam-803	57	20	:	:	PUNCT
ejpam-803	57	21	yt+h	yt+h	NOUN
ejpam-803	57	22	=	=	PUNCT
ejpam-803	58	1	α	α	X
ejpam-803	58	2	′ft	′ft	NOUN
ejpam-803	58	3	+	+	X
ejpam-803	58	4	β	β	X
ejpam-803	58	5	′wt	′wt	X
ejpam-803	58	6	+	+	CCONJ
ejpam-803	58	7	ǫt+h	ǫt+h	PROPN
ejpam-803	58	8	(	(	PUNCT
ejpam-803	58	9	3	3	NUM
ejpam-803	58	10	)	)	PUNCT
ejpam-803	58	11	and	and	CCONJ
ejpam-803	58	12	x	x	X
ejpam-803	59	1	i	i	NOUN
ejpam-803	59	2	t	t	NOUN
ejpam-803	60	1	=	=	PUNCT
ejpam-803	60	2	λ	λ	NOUN
ejpam-803	60	3	′	′	NUM
ejpam-803	61	1	i	i	NOUN
ejpam-803	61	2	ft	ft	PROPN
ejpam-803	62	1	+	+	CCONJ
ejpam-803	62	2	ei	ei	X
ejpam-803	62	3	t	t	NOUN
ejpam-803	62	4	,	,	PUNCT
ejpam-803	62	5	(	(	PUNCT
ejpam-803	62	6	4	4	X
ejpam-803	62	7	)	)	PUNCT
ejpam-803	62	8	where	where	SCONJ
ejpam-803	62	9	ft	ft	NOUN
ejpam-803	62	10	=	=	PRON
ejpam-803	62	11	(	(	PUNCT
ejpam-803	62	12	f	f	NOUN
ejpam-803	62	13	′	′	NUM
ejpam-803	62	14	t	t	PROPN
ejpam-803	62	15	,	,	PUNCT
ejpam-803	62	16	.	.	PUNCT
ejpam-803	62	17	.	.	PUNCT
ejpam-803	63	1	.	.	PUNCT
ejpam-803	64	1	,	,	PUNCT
ejpam-803	64	2	f	f	PROPN
ejpam-803	64	3	′t−q	′t−q	PROPN
ejpam-803	64	4	)	)	PUNCT
ejpam-803	64	5	′	′	NUM
ejpam-803	64	6	is	be	AUX
ejpam-803	64	7	an	an	DET
ejpam-803	64	8	r	r	NOUN
ejpam-803	64	9	×	×	NOUN
ejpam-803	64	10	1	1	NUM
ejpam-803	64	11	vector	vector	NOUN
ejpam-803	64	12	,	,	PUNCT
ejpam-803	64	13	with	with	ADP
ejpam-803	64	14	r	r	NOUN
ejpam-803	64	15	=	=	PUNCT
ejpam-803	64	16	(	(	PUNCT
ejpam-803	64	17	q	q	PROPN
ejpam-803	64	18	+	+	SYM
ejpam-803	64	19	1)r	1)r	NUM
ejpam-803	64	20	and	and	CCONJ
ejpam-803	64	21	α	α	PROPN
ejpam-803	64	22	is	be	AUX
ejpam-803	64	23	an	an	DET
ejpam-803	64	24	r	r	NOUN
ejpam-803	64	25	×	×	NOUN
ejpam-803	64	26	1	1	NUM
ejpam-803	64	27	vector	vector	NOUN
ejpam-803	64	28	.	.	PUNCT
ejpam-803	65	1	here	here	ADV
ejpam-803	65	2	,	,	PUNCT
ejpam-803	65	3	r	r	NOUN
ejpam-803	65	4	is	be	AUX
ejpam-803	65	5	the	the	DET
ejpam-803	65	6	number	number	NOUN
ejpam-803	65	7	of	of	ADP
ejpam-803	65	8	static	static	ADJ
ejpam-803	65	9	factors	factor	NOUN
ejpam-803	65	10	(	(	PUNCT
ejpam-803	65	11	i.e.	i.e.	X
ejpam-803	65	12	,	,	PUNCT
ejpam-803	65	13	the	the	DET
ejpam-803	65	14	number	number	NOUN
ejpam-803	65	15	of	of	ADP
ejpam-803	65	16	elements	element	NOUN
ejpam-803	65	17	in	in	ADP
ejpam-803	65	18	ft	ft	PROPN
ejpam-803	65	19	)	)	PUNCT
ejpam-803	65	20	.	.	PUNCT
ejpam-803	66	1	additionally	additionally	ADV
ejpam-803	66	2	,	,	PUNCT
ejpam-803	66	3	λi	λi	ADP
ejpam-803	66	4	=	=	X
ejpam-803	66	5	(	(	PUNCT
ejpam-803	66	6	λ	λ	PROPN
ejpam-803	66	7	′	′	NUM
ejpam-803	66	8	i0	i0	PROPN
ejpam-803	66	9	,	,	PUNCT
ejpam-803	66	10	.	.	PUNCT
ejpam-803	66	11	.	.	PUNCT
ejpam-803	66	12	.	.	PUNCT
ejpam-803	67	1	,	,	PUNCT
ejpam-803	67	2	λ′iq	λ′iq	X
ejpam-803	67	3	)	)	PUNCT
ejpam-803	67	4	′	′	NUM
ejpam-803	67	5	is	be	AUX
ejpam-803	67	6	a	a	DET
ejpam-803	67	7	vector	vector	NOUN
ejpam-803	67	8	of	of	ADP
ejpam-803	67	9	factor	factor	NOUN
ejpam-803	67	10	loadings	loading	NOUN
ejpam-803	67	11	on	on	ADP
ejpam-803	67	12	the	the	DET
ejpam-803	67	13	r	r	NOUN
ejpam-803	67	14	static	static	ADJ
ejpam-803	67	15	factors	factor	NOUN
ejpam-803	67	16	,	,	PUNCT
ejpam-803	67	17	where	where	SCONJ
ejpam-803	67	18	λi	λi	ADP
ejpam-803	67	19	j	j	PROPN
ejpam-803	67	20	is	be	AUX
ejpam-803	67	21	an	an	DET
ejpam-803	67	22	r	r	NOUN
ejpam-803	67	23	×	×	NOUN
ejpam-803	67	24	1	1	NUM
ejpam-803	67	25	vector	vector	NOUN
ejpam-803	67	26	for	for	ADP
ejpam-803	67	27	j	j	PROPN
ejpam-803	67	28	=	=	SYM
ejpam-803	67	29	0	0	PROPN
ejpam-803	67	30	,	,	PUNCT
ejpam-803	67	31	.	.	PUNCT
ejpam-803	67	32	.	.	PUNCT
ejpam-803	68	1	.	.	PUNCT
ejpam-803	69	1	,	,	PUNCT
ejpam-803	69	2	q	q	X
ejpam-803	69	3	and	and	CCONJ
ejpam-803	69	4	β	β	X
ejpam-803	69	5	=	=	SYM
ejpam-803	69	6	(	(	PUNCT
ejpam-803	69	7	β1	β1	PROPN
ejpam-803	69	8	,	,	PUNCT
ejpam-803	69	9	.	.	PUNCT
ejpam-803	69	10	.	.	PUNCT
ejpam-803	70	1	.	.	PUNCT
ejpam-803	71	1	,	,	PUNCT
ejpam-803	71	2	βl	βl	NOUN
ejpam-803	71	3	)	)	PUNCT
ejpam-803	71	4	′.	′.	NOUN
ejpam-803	71	5	alternatively	alternatively	ADV
ejpam-803	71	6	,	,	PUNCT
ejpam-803	71	7	from	from	ADP
ejpam-803	71	8	(	(	PUNCT
ejpam-803	71	9	2	2	NUM
ejpam-803	71	10	)	)	PUNCT
ejpam-803	71	11	,	,	PUNCT
ejpam-803	71	12	the	the	DET
ejpam-803	71	13	dynamic	dynamic	ADJ
ejpam-803	71	14	factor	factor	NOUN
ejpam-803	71	15	model	model	NOUN
ejpam-803	71	16	can	can	AUX
ejpam-803	71	17	be	be	AUX
ejpam-803	71	18	represented	represent	VERB
ejpam-803	71	19	as	as	ADP
ejpam-803	71	20	:	:	PUNCT
ejpam-803	71	21	x	x	X
ejpam-803	71	22	i	i	NOUN
ejpam-803	71	23	t	t	NOUN
ejpam-803	72	1	=	=	PUNCT
ejpam-803	72	2	λ′i0	λ′i0	NOUN
ejpam-803	72	3	ft	ft	PROPN
ejpam-803	73	1	+	+	NOUN
ejpam-803	73	2	λ	λ	PROPN
ejpam-803	73	3	′	′	NOUN
ejpam-803	73	4	i1	i1	PROPN
ejpam-803	73	5	ft−1	ft−1	PROPN
ejpam-803	73	6	+	+	X
ejpam-803	73	7	.	.	PUNCT
ejpam-803	73	8	.	.	PUNCT
ejpam-803	74	1	.+λ′iq	.+λ′iq	PUNCT
ejpam-803	75	1	ft−q	ft−q	PROPN
ejpam-803	75	2	+	+	CCONJ
ejpam-803	75	3	ei	ei	X
ejpam-803	75	4	t	t	PROPN
ejpam-803	75	5	(	(	PUNCT
ejpam-803	75	6	5	5	NUM
ejpam-803	75	7	)	)	PUNCT
ejpam-803	75	8	=	=	SYM
ejpam-803	75	9	λ′i(l	λ′i(l	PROPN
ejpam-803	75	10	)	)	PUNCT
ejpam-803	75	11	ft	ft	PROPN
ejpam-803	76	1	+	+	NUM
ejpam-803	76	2	ei	ei	X
ejpam-803	76	3	t	t	PROPN
ejpam-803	76	4	(	(	PUNCT
ejpam-803	76	5	6	6	NUM
ejpam-803	76	6	)	)	PUNCT
ejpam-803	76	7	and	and	CCONJ
ejpam-803	76	8	:	:	PUNCT
ejpam-803	76	9	λi(l	λi(l	X
ejpam-803	76	10	)	)	PUNCT
ejpam-803	77	1	=	=	SYM
ejpam-803	78	1	λi0	λi0	INTJ
ejpam-803	79	1	+	+	NOUN
ejpam-803	79	2	λi1	λi1	NOUN
ejpam-803	79	3	l1	l1	PROPN
ejpam-803	79	4	+	+	X
ejpam-803	79	5	.	.	PUNCT
ejpam-803	79	6	.	.	PUNCT
ejpam-803	80	1	.+λiq	.+λiq	PUNCT
ejpam-803	81	1	lq	lq	INTJ
ejpam-803	81	2	.	.	PUNCT
ejpam-803	82	1	for	for	ADP
ejpam-803	82	2	complete	complete	ADJ
ejpam-803	82	3	details	detail	NOUN
ejpam-803	82	4	,	,	PUNCT
ejpam-803	82	5	see	see	VERB
ejpam-803	82	6	[	[	X
ejpam-803	82	7	7	7	NUM
ejpam-803	82	8	]	]	PUNCT
ejpam-803	82	9	.	.	PUNCT
ejpam-803	83	1	now	now	ADV
ejpam-803	83	2	,	,	PUNCT
ejpam-803	83	3	(	(	PUNCT
ejpam-803	83	4	6	6	X
ejpam-803	83	5	)	)	PUNCT
ejpam-803	83	6	can	can	AUX
ejpam-803	83	7	be	be	AUX
ejpam-803	83	8	written	write	VERB
ejpam-803	83	9	in	in	ADP
ejpam-803	83	10	the	the	DET
ejpam-803	83	11	static	static	ADJ
ejpam-803	83	12	form	form	NOUN
ejpam-803	83	13	(	(	PUNCT
ejpam-803	83	14	4	4	NUM
ejpam-803	83	15	)	)	PUNCT
ejpam-803	83	16	where	where	SCONJ
ejpam-803	83	17	ft	ft	NOUN
ejpam-803	83	18	and	and	CCONJ
ejpam-803	83	19	λi	λi	X
ejpam-803	83	20	are	be	AUX
ejpam-803	83	21	defined	define	VERB
ejpam-803	83	22	as	as	ADP
ejpam-803	83	23	above	above	ADV
ejpam-803	83	24	.	.	PUNCT
ejpam-803	84	1	the	the	DET
ejpam-803	84	2	static	static	ADJ
ejpam-803	84	3	factor	factor	NOUN
ejpam-803	84	4	model	model	NOUN
ejpam-803	84	5	refers	refer	VERB
ejpam-803	84	6	to	to	ADP
ejpam-803	84	7	the	the	DET
ejpam-803	84	8	contemporaneous	contemporaneous	ADJ
ejpam-803	84	9	relationship	relationship	NOUN
ejpam-803	84	10	between	between	ADP
ejpam-803	84	11	x	x	PROPN
ejpam-803	84	12	i	i	PRON
ejpam-803	84	13	t	t	PROPN
ejpam-803	84	14	and	and	CCONJ
ejpam-803	84	15	ft	ft	PROPN
ejpam-803	84	16	.	.	PUNCT
ejpam-803	85	1	one	one	NUM
ejpam-803	85	2	major	major	ADJ
ejpam-803	85	3	advantage	advantage	NOUN
ejpam-803	85	4	of	of	ADP
ejpam-803	85	5	the	the	DET
ejpam-803	85	6	static	static	ADJ
ejpam-803	85	7	representation	representation	NOUN
ejpam-803	85	8	of	of	ADP
ejpam-803	85	9	the	the	DET
ejpam-803	85	10	dynamic	dynamic	ADJ
ejpam-803	85	11	factor	factor	NOUN
ejpam-803	85	12	model	model	NOUN
ejpam-803	85	13	is	be	AUX
ejpam-803	85	14	it	it	PRON
ejpam-803	85	15	enables	enable	VERB
ejpam-803	85	16	us	we	PRON
ejpam-803	85	17	to	to	PART
ejpam-803	85	18	use	use	VERB
ejpam-803	85	19	principal	principal	ADJ
ejpam-803	85	20	components	component	NOUN
ejpam-803	85	21	to	to	PART
ejpam-803	85	22	estimate	estimate	VERB
ejpam-803	85	23	the	the	DET
ejpam-803	85	24	factors	factor	NOUN
ejpam-803	85	25	.	.	PUNCT
ejpam-803	86	1	this	this	PRON
ejpam-803	86	2	involves	involve	VERB
ejpam-803	86	3	estimating	estimate	VERB
ejpam-803	86	4	ft	ft	ADP
ejpam-803	86	5	using	use	VERB
ejpam-803	86	6	an	an	DET
ejpam-803	86	7	eigenvalue	eigenvalue	ADJ
ejpam-803	86	8	-	-	PUNCT
ejpam-803	86	9	eigenvector	eigenvector	NOUN
ejpam-803	86	10	decomposition	decomposition	NOUN
ejpam-803	86	11	of	of	ADP
ejpam-803	86	12	the	the	DET
ejpam-803	86	13	sample	sample	NOUN
ejpam-803	86	14	covariance	covariance	NOUN
ejpam-803	86	15	matrix	matrix	NOUN
ejpam-803	86	16	of	of	ADP
ejpam-803	86	17	the	the	DET
ejpam-803	86	18	data	datum	NOUN
ejpam-803	86	19	.	.	PUNCT
ejpam-803	87	1	it	it	PRON
ejpam-803	87	2	is	be	AUX
ejpam-803	87	3	worth	worth	ADJ
ejpam-803	87	4	noting	note	VERB
ejpam-803	87	5	that	that	SCONJ
ejpam-803	87	6	the	the	DET
ejpam-803	87	7	use	use	NOUN
ejpam-803	87	8	of	of	ADP
ejpam-803	87	9	principal	principal	ADJ
ejpam-803	87	10	components	component	NOUN
ejpam-803	87	11	to	to	PART
ejpam-803	87	12	estimate	estimate	VERB
ejpam-803	87	13	the	the	DET
ejpam-803	87	14	factors	factor	NOUN
ejpam-803	87	15	can	can	AUX
ejpam-803	87	16	not	not	PART
ejpam-803	87	17	be	be	AUX
ejpam-803	87	18	done	do	VERB
ejpam-803	87	19	with	with	ADP
ejpam-803	87	20	infinitely	infinitely	ADV
ejpam-803	87	21	distributed	distribute	VERB
ejpam-803	87	22	lags	lag	NOUN
ejpam-803	87	23	of	of	ADP
ejpam-803	87	24	the	the	DET
ejpam-803	87	25	factors	factor	NOUN
ejpam-803	87	26	[	[	X
ejpam-803	87	27	see	see	VERB
ejpam-803	87	28	19	19	NUM
ejpam-803	87	29	]	]	PUNCT
ejpam-803	87	30	.	.	PUNCT
ejpam-803	88	1	in	in	ADP
ejpam-803	88	2	[	[	X
ejpam-803	88	3	10	10	NUM
ejpam-803	88	4	,	,	PUNCT
ejpam-803	88	5	11	11	NUM
ejpam-803	88	6	,	,	PUNCT
ejpam-803	88	7	18	18	NUM
ejpam-803	88	8	,	,	PUNCT
ejpam-803	88	9	3	3	NUM
ejpam-803	88	10	,	,	PUNCT
ejpam-803	88	11	2	2	NUM
ejpam-803	88	12	]	]	PUNCT
ejpam-803	88	13	,	,	PUNCT
ejpam-803	88	14	it	it	PRON
ejpam-803	88	15	was	be	AUX
ejpam-803	88	16	showed	show	VERB
ejpam-803	88	17	that	that	SCONJ
ejpam-803	88	18	the	the	DET
ejpam-803	88	19	space	space	NOUN
ejpam-803	88	20	spanned	span	VERB
ejpam-803	88	21	by	by	ADP
ejpam-803	88	22	both	both	CCONJ
ejpam-803	88	23	the	the	DET
ejpam-803	88	24	static	static	ADJ
ejpam-803	88	25	and	and	CCONJ
ejpam-803	88	26	dynamic	dynamic	ADJ
ejpam-803	88	27	factors	factor	NOUN
ejpam-803	88	28	can	can	AUX
ejpam-803	88	29	be	be	AUX
ejpam-803	88	30	consistently	consistently	ADV
ejpam-803	88	31	estimated	estimate	VERB
ejpam-803	88	32	when	when	SCONJ
ejpam-803	88	33	n	n	PRON
ejpam-803	88	34	and	and	CCONJ
ejpam-803	88	35	t	t	PROPN
ejpam-803	88	36	are	be	AUX
ejpam-803	88	37	both	both	ADV
ejpam-803	88	38	large	large	ADJ
ejpam-803	88	39	.	.	PUNCT
ejpam-803	89	1	for	for	ADP
ejpam-803	89	2	forecasting	forecasting	NOUN
ejpam-803	89	3	purposes	purpose	NOUN
ejpam-803	89	4	,	,	PUNCT
ejpam-803	89	5	little	little	ADJ
ejpam-803	89	6	is	be	AUX
ejpam-803	89	7	gained	gain	VERB
ejpam-803	89	8	from	from	ADP
ejpam-803	89	9	a	a	DET
ejpam-803	89	10	clear	clear	ADJ
ejpam-803	89	11	distinction	distinction	NOUN
ejpam-803	89	12	between	between	ADP
ejpam-803	89	13	the	the	DET
ejpam-803	89	14	static	static	NOUN
ejpam-803	89	15	and	and	CCONJ
ejpam-803	89	16	the	the	DET
ejpam-803	89	17	dynamic	dynamic	ADJ
ejpam-803	89	18	factors	factor	NOUN
ejpam-803	89	19	.	.	PUNCT
ejpam-803	90	1	however	however	ADV
ejpam-803	90	2	,	,	PUNCT
ejpam-803	90	3	many	many	ADJ
ejpam-803	90	4	economic	economic	ADJ
ejpam-803	90	5	analyses	analysis	NOUN
ejpam-803	90	6	hinge	hinge	VERB
ejpam-803	90	7	on	on	ADP
ejpam-803	90	8	the	the	DET
ejpam-803	90	9	ability	ability	NOUN
ejpam-803	90	10	to	to	PART
ejpam-803	90	11	isolate	isolate	VERB
ejpam-803	90	12	the	the	DET
ejpam-803	90	13	primitive	primitive	ADJ
ejpam-803	90	14	shocks	shock	NOUN
ejpam-803	90	15	or	or	CCONJ
ejpam-803	90	16	the	the	DET
ejpam-803	90	17	number	number	NOUN
ejpam-803	90	18	of	of	ADP
ejpam-803	90	19	dynamic	dynamic	ADJ
ejpam-803	90	20	factors	factor	NOUN
ejpam-803	90	21	[	[	X
ejpam-803	90	22	see	see	VERB
ejpam-803	90	23	7	7	NUM
ejpam-803	90	24	]	]	PUNCT
ejpam-803	90	25	.	.	PUNCT
ejpam-803	91	1	boivin	boivin	PROPN
ejpam-803	91	2	and	and	CCONJ
ejpam-803	91	3	ng	ng	PROPN
ejpam-803	92	1	[	[	X
ejpam-803	92	2	8	8	NUM
ejpam-803	92	3	]	]	PUNCT
ejpam-803	92	4	also	also	ADV
ejpam-803	92	5	compare	compare	VERB
ejpam-803	92	6	alternative	alternative	ADJ
ejpam-803	92	7	factor	factor	NOUN
ejpam-803	92	8	based	base	VERB
ejpam-803	92	9	forecast	forecast	NOUN
ejpam-803	92	10	methodologies	methodology	NOUN
ejpam-803	92	11	,	,	PUNCT
ejpam-803	92	12	and	and	CCONJ
ejpam-803	92	13	conclude	conclude	VERB
ejpam-803	92	14	that	that	SCONJ
ejpam-803	92	15	when	when	SCONJ
ejpam-803	92	16	the	the	DET
ejpam-803	92	17	dynamic	dynamic	ADJ
ejpam-803	92	18	structure	structure	NOUN
ejpam-803	92	19	is	be	AUX
ejpam-803	92	20	unknown	unknown	ADJ
ejpam-803	92	21	and	and	CCONJ
ejpam-803	92	22	the	the	DET
ejpam-803	92	23	model	model	NOUN
ejpam-803	92	24	is	be	AUX
ejpam-803	92	25	characterized	characterize	VERB
ejpam-803	92	26	by	by	ADP
ejpam-803	92	27	complex	complex	ADJ
ejpam-803	92	28	dynamics	dynamic	NOUN
ejpam-803	92	29	,	,	PUNCT
ejpam-803	92	30	the	the	DET
ejpam-803	92	31	approach	approach	NOUN
ejpam-803	92	32	of	of	ADP
ejpam-803	92	33	stock	stock	NOUN
ejpam-803	92	34	and	and	CCONJ
ejpam-803	92	35	watson	watson	NOUN
ejpam-803	92	36	performs	perform	VERB
ejpam-803	92	37	favorably	favorably	ADV
ejpam-803	92	38	.	.	PUNCT
ejpam-803	93	1	for	for	ADP
ejpam-803	93	2	further	further	ADJ
ejpam-803	93	3	details	detail	NOUN
ejpam-803	93	4	,	,	PUNCT
ejpam-803	93	5	please	please	INTJ
ejpam-803	93	6	refer	refer	VERB
ejpam-803	93	7	to	to	ADP
ejpam-803	93	8	[	[	X
ejpam-803	93	9	1	1	NUM
ejpam-803	93	10	]	]	PUNCT
ejpam-803	93	11	.	.	PUNCT
ejpam-803	94	1	the	the	DET
ejpam-803	94	2	problem	problem	NOUN
ejpam-803	94	3	of	of	ADP
ejpam-803	94	4	obtaining	obtain	VERB
ejpam-803	94	5	the	the	DET
ejpam-803	94	6	necessary	necessary	ADJ
ejpam-803	94	7	estimates	estimate	NOUN
ejpam-803	94	8	in	in	ADP
ejpam-803	94	9	(	(	PUNCT
ejpam-803	94	10	4	4	X
ejpam-803	94	11	)	)	PUNCT
ejpam-803	94	12	would	would	AUX
ejpam-803	94	13	be	be	AUX
ejpam-803	94	14	simplified	simplify	VERB
ejpam-803	94	15	if	if	SCONJ
ejpam-803	94	16	we	we	PRON
ejpam-803	94	17	knew	know	VERB
ejpam-803	94	18	f0	f0	PROPN
ejpam-803	94	19	.	.	PUNCT
ejpam-803	95	1	then	then	ADV
ejpam-803	95	2	λi	λi	INTJ
ejpam-803	95	3	could	could	AUX
ejpam-803	95	4	be	be	AUX
ejpam-803	95	5	estimated	estimate	VERB
ejpam-803	95	6	via	via	ADP
ejpam-803	95	7	least	least	ADJ
ejpam-803	95	8	squares	square	NOUN
ejpam-803	95	9	by	by	ADP
ejpam-803	95	10	setting	set	VERB
ejpam-803	95	11	{	{	PUNCT
ejpam-803	95	12	x	x	PROPN
ejpam-803	95	13	i	i	PRON
ejpam-803	95	14	t}tt=1	t}tt=1	NUM
ejpam-803	95	15	to	to	PART
ejpam-803	95	16	be	be	AUX
ejpam-803	95	17	the	the	DET
ejpam-803	95	18	dependent	dependent	ADJ
ejpam-803	95	19	variable	variable	NOUN
ejpam-803	95	20	and	and	CCONJ
ejpam-803	95	21	{	{	PUNCT
ejpam-803	95	22	ft}tt=1	ft}tt=1	NOUN
ejpam-803	95	23	to	to	PART
ejpam-803	95	24	be	be	AUX
ejpam-803	95	25	the	the	DET
ejpam-803	95	26	explanatory	explanatory	ADJ
ejpam-803	95	27	variable	variable	NOUN
ejpam-803	95	28	.	.	PUNCT
ejpam-803	96	1	on	on	ADP
ejpam-803	96	2	the	the	DET
ejpam-803	96	3	other	other	ADJ
ejpam-803	96	4	hand	hand	NOUN
ejpam-803	96	5	,	,	PUNCT
ejpam-803	96	6	if	if	SCONJ
ejpam-803	96	7	λ	λ	NOUN
ejpam-803	96	8	were	be	AUX
ejpam-803	96	9	known	know	VERB
ejpam-803	96	10	,	,	PUNCT
ejpam-803	96	11	ft	ft	PRON
ejpam-803	96	12	could	could	AUX
ejpam-803	96	13	be	be	AUX
ejpam-803	96	14	estimated	estimate	VERB
ejpam-803	96	15	by	by	ADP
ejpam-803	96	16	regressing	regress	VERB
ejpam-803	96	17	{	{	PUNCT
ejpam-803	96	18	x	x	PROPN
ejpam-803	96	19	i	i	PRON
ejpam-803	96	20	t}ni=1	t}ni=1	NOUN
ejpam-803	96	21	on	on	ADP
ejpam-803	96	22	{	{	PUNCT
ejpam-803	96	23	λi}ni=1	λi}ni=1	PROPN
ejpam-803	96	24	.	.	PUNCT
ejpam-803	97	1	since	since	SCONJ
ejpam-803	97	2	the	the	DET
ejpam-803	97	3	common	common	ADJ
ejpam-803	97	4	factors	factor	NOUN
ejpam-803	97	5	are	be	AUX
ejpam-803	97	6	not	not	PART
ejpam-803	97	7	observed	observe	VERB
ejpam-803	97	8	,	,	PUNCT
ejpam-803	97	9	in	in	ADP
ejpam-803	97	10	the	the	DET
ejpam-803	97	11	regression	regression	NOUN
ejpam-803	97	12	analysis	analysis	NOUN
ejpam-803	97	13	of	of	ADP
ejpam-803	97	14	(	(	PUNCT
ejpam-803	97	15	4	4	NUM
ejpam-803	97	16	)	)	PUNCT
ejpam-803	97	17	,	,	PUNCT
ejpam-803	97	18	we	we	PRON
ejpam-803	97	19	replace	replace	VERB
ejpam-803	97	20	ft	ft	VERB
ejpam-803	97	21	by	by	ADP
ejpam-803	97	22	eft	eft	PROPN
ejpam-803	97	23	,	,	PUNCT
ejpam-803	97	24	estimates	estimate	VERB
ejpam-803	97	25	that	that	SCONJ
ejpam-803	97	26	span	span	VERB
ejpam-803	97	27	the	the	DET
ejpam-803	97	28	same	same	ADJ
ejpam-803	97	29	n.	n.	NOUN
ejpam-803	97	30	armah	armah	NOUN
ejpam-803	97	31	and	and	CCONJ
ejpam-803	97	32	n.	n.	PROPN
ejpam-803	97	33	swanson	swanson	PROPN
ejpam-803	97	34	/	/	SYM
ejpam-803	97	35	eur	eur	PROPN
ejpam-803	97	36	.	.	PUNCT
ejpam-803	98	1	j.	j.	PROPN
ejpam-803	98	2	pure	pure	PROPN
ejpam-803	98	3	appl	appl	PROPN
ejpam-803	98	4	.	.	PROPN
ejpam-803	98	5	math	math	PROPN
ejpam-803	98	6	,	,	PUNCT
ejpam-803	98	7	3	3	NUM
ejpam-803	98	8	(	(	PUNCT
ejpam-803	98	9	2010	2010	NUM
ejpam-803	98	10	)	)	PUNCT
ejpam-803	98	11	,	,	PUNCT
ejpam-803	98	12	478	478	NUM
ejpam-803	98	13	-	-	SYM
ejpam-803	98	14	501	501	NUM
ejpam-803	98	15	481	481	NUM
ejpam-803	98	16	space	space	NOUN
ejpam-803	98	17	as	as	ADP
ejpam-803	98	18	ft	ft	ADP
ejpam-803	98	19	when	when	SCONJ
ejpam-803	98	20	n	n	NUM
ejpam-803	98	21	,	,	PUNCT
ejpam-803	98	22	t	t	PROPN
ejpam-803	98	23	→∞.	→∞.	SYM
ejpam-803	98	24	estimation	estimation	NOUN
ejpam-803	98	25	of	of	ADP
ejpam-803	98	26	these	these	DET
ejpam-803	98	27	common	common	ADJ
ejpam-803	98	28	factors	factor	NOUN
ejpam-803	98	29	from	from	ADP
ejpam-803	98	30	large	large	ADJ
ejpam-803	98	31	panel	panel	NOUN
ejpam-803	98	32	data	datum	NOUN
ejpam-803	98	33	sets	set	NOUN
ejpam-803	98	34	of	of	ADP
ejpam-803	98	35	macroeconomic	macroeconomic	ADJ
ejpam-803	98	36	variables	variable	NOUN
ejpam-803	98	37	can	can	AUX
ejpam-803	98	38	be	be	AUX
ejpam-803	98	39	carried	carry	VERB
ejpam-803	98	40	out	out	ADP
ejpam-803	98	41	using	use	VERB
ejpam-803	98	42	principal	principal	ADJ
ejpam-803	98	43	component	component	NOUN
ejpam-803	98	44	analysis	analysis	NOUN
ejpam-803	98	45	.	.	PUNCT
ejpam-803	99	1	we	we	PRON
ejpam-803	99	2	refer	refer	VERB
ejpam-803	99	3	the	the	DET
ejpam-803	99	4	reader	reader	NOUN
ejpam-803	99	5	to	to	ADP
ejpam-803	99	6	[	[	X
ejpam-803	99	7	17	17	NUM
ejpam-803	99	8	,	,	PUNCT
ejpam-803	99	9	19	19	NUM
ejpam-803	99	10	,	,	PUNCT
ejpam-803	99	11	18	18	NUM
ejpam-803	99	12	,	,	PUNCT
ejpam-803	99	13	20	20	NUM
ejpam-803	99	14	,	,	PUNCT
ejpam-803	99	15	21	21	NUM
ejpam-803	99	16	]	]	PUNCT
ejpam-803	99	17	and	and	CCONJ
ejpam-803	99	18	[	[	X
ejpam-803	99	19	3	3	X
ejpam-803	99	20	]	]	PUNCT
ejpam-803	99	21	for	for	ADP
ejpam-803	99	22	a	a	DET
ejpam-803	99	23	detailed	detailed	ADJ
ejpam-803	99	24	explanation	explanation	NOUN
ejpam-803	99	25	of	of	ADP
ejpam-803	99	26	this	this	DET
ejpam-803	99	27	procedure	procedure	NOUN
ejpam-803	99	28	,	,	PUNCT
ejpam-803	99	29	and	and	CCONJ
ejpam-803	99	30	to	to	ADP
ejpam-803	99	31	[	[	X
ejpam-803	99	32	14	14	NUM
ejpam-803	99	33	,	,	PUNCT
ejpam-803	99	34	15	15	NUM
ejpam-803	99	35	,	,	PUNCT
ejpam-803	99	36	16	16	NUM
ejpam-803	99	37	]	]	PUNCT
ejpam-803	99	38	,	,	PUNCT
ejpam-803	99	39	[	[	X
ejpam-803	99	40	12	12	NUM
ejpam-803	99	41	,	,	PUNCT
ejpam-803	99	42	13	13	NUM
ejpam-803	99	43	]	]	PUNCT
ejpam-803	99	44	and	and	CCONJ
ejpam-803	100	1	[	[	X
ejpam-803	100	2	11	11	NUM
ejpam-803	100	3	]	]	PUNCT
ejpam-803	100	4	for	for	ADP
ejpam-803	100	5	further	further	ADJ
ejpam-803	100	6	detailed	detailed	ADJ
ejpam-803	100	7	discussion	discussion	NOUN
ejpam-803	100	8	of	of	ADP
ejpam-803	100	9	diffusion	diffusion	NOUN
ejpam-803	100	10	models	model	NOUN
ejpam-803	100	11	,	,	PUNCT
ejpam-803	100	12	in	in	ADP
ejpam-803	100	13	general	general	ADJ
ejpam-803	100	14	.	.	PUNCT
ejpam-803	101	1	as	as	SCONJ
ejpam-803	101	2	noted	note	VERB
ejpam-803	101	3	earlier	early	ADV
ejpam-803	101	4	ft	ft	NOUN
ejpam-803	101	5	and	and	CCONJ
ejpam-803	101	6	λi	λi	X
ejpam-803	101	7	are	be	AUX
ejpam-803	101	8	not	not	PART
ejpam-803	101	9	separately	separately	ADV
ejpam-803	101	10	identified	identify	VERB
ejpam-803	101	11	,	,	PUNCT
ejpam-803	101	12	but	but	CCONJ
ejpam-803	101	13	rather	rather	ADV
ejpam-803	101	14	identifiable	identifiable	ADJ
ejpam-803	101	15	only	only	ADV
ejpam-803	101	16	up	up	ADP
ejpam-803	101	17	to	to	ADP
ejpam-803	101	18	a	a	DET
ejpam-803	101	19	square	square	ADJ
ejpam-803	101	20	matrix	matrix	NOUN
ejpam-803	101	21	.	.	PUNCT
ejpam-803	102	1	stock	stock	NOUN
ejpam-803	102	2	and	and	CCONJ
ejpam-803	102	3	watson	watson	PROPN
ejpam-803	103	1	[	[	X
ejpam-803	103	2	17	17	NUM
ejpam-803	103	3	]	]	X
ejpam-803	103	4	further	far	ADV
ejpam-803	103	5	demonstrate	demonstrate	VERB
ejpam-803	103	6	that	that	SCONJ
ejpam-803	103	7	when	when	SCONJ
ejpam-803	103	8	principal	principal	ADJ
ejpam-803	103	9	components	component	NOUN
ejpam-803	103	10	is	be	AUX
ejpam-803	103	11	used	use	VERB
ejpam-803	103	12	,	,	PUNCT
ejpam-803	103	13	the	the	DET
ejpam-803	103	14	factors	factor	NOUN
ejpam-803	103	15	remain	remain	VERB
ejpam-803	103	16	consistent	consistent	ADJ
ejpam-803	103	17	even	even	ADV
ejpam-803	103	18	when	when	SCONJ
ejpam-803	103	19	there	there	PRON
ejpam-803	103	20	is	be	VERB
ejpam-803	103	21	some	some	DET
ejpam-803	103	22	time	time	NOUN
ejpam-803	103	23	variation	variation	NOUN
ejpam-803	103	24	in	in	ADP
ejpam-803	103	25	λ	λ	PROPN
ejpam-803	103	26	and	and	CCONJ
ejpam-803	103	27	small	small	ADJ
ejpam-803	103	28	amounts	amount	NOUN
ejpam-803	103	29	of	of	ADP
ejpam-803	103	30	data	datum	NOUN
ejpam-803	103	31	contamination	contamination	NOUN
ejpam-803	103	32	,	,	PUNCT
ejpam-803	103	33	so	so	ADV
ejpam-803	103	34	long	long	ADV
ejpam-803	103	35	as	as	SCONJ
ejpam-803	103	36	the	the	DET
ejpam-803	103	37	number	number	NOUN
ejpam-803	103	38	of	of	ADP
ejpam-803	103	39	variables	variable	NOUN
ejpam-803	103	40	in	in	ADP
ejpam-803	103	41	the	the	DET
ejpam-803	103	42	panel	panel	NOUN
ejpam-803	103	43	dataset	dataset	VERB
ejpam-803	103	44	or	or	CCONJ
ejpam-803	103	45	the	the	DET
ejpam-803	103	46	number	number	NOUN
ejpam-803	103	47	of	of	ADP
ejpam-803	103	48	predictors	predictor	NOUN
ejpam-803	103	49	is	be	AUX
ejpam-803	103	50	very	very	ADV
ejpam-803	103	51	large	large	ADJ
ejpam-803	103	52	(	(	PUNCT
ejpam-803	103	53	i.e.	i.e.	X
ejpam-803	103	54	,	,	PUNCT
ejpam-803	103	55	n	n	X
ejpam-803	103	56	>	>	X
ejpam-803	103	57	>	>	X
ejpam-803	103	58	t	t	PROPN
ejpam-803	103	59	)	)	PUNCT
ejpam-803	103	60	.	.	PUNCT
ejpam-803	104	1	in	in	ADP
ejpam-803	104	2	this	this	DET
ejpam-803	104	3	paper	paper	NOUN
ejpam-803	104	4	,	,	PUNCT
ejpam-803	104	5	we	we	PRON
ejpam-803	104	6	only	only	ADV
ejpam-803	104	7	give	give	VERB
ejpam-803	104	8	an	an	DET
ejpam-803	104	9	outline	outline	NOUN
ejpam-803	104	10	of	of	ADP
ejpam-803	104	11	how	how	SCONJ
ejpam-803	104	12	principal	principal	ADJ
ejpam-803	104	13	component	component	NOUN
ejpam-803	104	14	analysis	analysis	NOUN
ejpam-803	104	15	is	be	AUX
ejpam-803	104	16	carried	carry	VERB
ejpam-803	104	17	out	out	ADP
ejpam-803	104	18	,	,	PUNCT
ejpam-803	104	19	with	with	ADP
ejpam-803	104	20	particular	particular	ADJ
ejpam-803	104	21	emphasis	emphasis	NOUN
ejpam-803	104	22	on	on	ADP
ejpam-803	104	23	those	those	DET
ejpam-803	104	24	features	feature	NOUN
ejpam-803	104	25	of	of	ADP
ejpam-803	104	26	the	the	DET
ejpam-803	104	27	analysis	analysis	NOUN
ejpam-803	104	28	that	that	PRON
ejpam-803	104	29	allow	allow	VERB
ejpam-803	104	30	us	we	PRON
ejpam-803	104	31	to	to	PART
ejpam-803	104	32	carry	carry	VERB
ejpam-803	104	33	out	out	ADP
ejpam-803	104	34	our	our	PRON
ejpam-803	104	35	prediction	prediction	NOUN
ejpam-803	104	36	experiments	experiment	NOUN
ejpam-803	104	37	using	use	VERB
ejpam-803	104	38	the	the	DET
ejpam-803	104	39	a	a	PRON
ejpam-803	104	40	(	(	PUNCT
ejpam-803	104	41	j	j	NOUN
ejpam-803	104	42	)	)	PUNCT
ejpam-803	104	43	and	and	CCONJ
ejpam-803	104	44	m	m	PROPN
ejpam-803	104	45	(	(	PUNCT
ejpam-803	104	46	j	j	PROPN
ejpam-803	104	47	)	)	PUNCT
ejpam-803	104	48	statistics	statistic	NOUN
ejpam-803	104	49	of	of	ADP
ejpam-803	104	50	[	[	X
ejpam-803	104	51	5	5	NUM
ejpam-803	104	52	]	]	PUNCT
ejpam-803	104	53	.	.	PUNCT
ejpam-803	105	1	let	let	VERB
ejpam-803	105	2	k	k	PROPN
ejpam-803	105	3	(	(	PUNCT
ejpam-803	105	4	k	k	X
ejpam-803	105	5	<	<	X
ejpam-803	105	6	min{n	min{n	X
ejpam-803	105	7	,	,	PUNCT
ejpam-803	105	8	t	t	NOUN
ejpam-803	105	9	}	}	PUNCT
ejpam-803	105	10	)	)	PUNCT
ejpam-803	105	11	be	be	AUX
ejpam-803	105	12	an	an	DET
ejpam-803	105	13	arbitrary	arbitrary	ADJ
ejpam-803	105	14	number	number	NOUN
ejpam-803	105	15	of	of	ADP
ejpam-803	105	16	factors	factor	NOUN
ejpam-803	105	17	,	,	PUNCT
ejpam-803	105	18	λk	λk	PART
ejpam-803	105	19	be	be	AUX
ejpam-803	105	20	the	the	DET
ejpam-803	105	21	n	n	NUM
ejpam-803	105	22	×	×	NOUN
ejpam-803	105	23	k	k	NOUN
ejpam-803	105	24	matrix	matrix	NOUN
ejpam-803	105	25	of	of	ADP
ejpam-803	105	26	factor	factor	NOUN
ejpam-803	105	27	loadings	loading	NOUN
ejpam-803	105	28	,	,	PUNCT
ejpam-803	105	29	(	(	PUNCT
ejpam-803	105	30	λk	λk	NOUN
ejpam-803	105	31	1	1	NUM
ejpam-803	105	32	,	,	PUNCT
ejpam-803	105	33	.	.	PUNCT
ejpam-803	105	34	.	.	PUNCT
ejpam-803	106	1	.	.	PUNCT
ejpam-803	107	1	,	,	PUNCT
ejpam-803	107	2	λk	λk	PROPN
ejpam-803	107	3	n	n	PROPN
ejpam-803	107	4	)	)	PUNCT
ejpam-803	107	5	′	′	NUM
ejpam-803	107	6	,	,	PUNCT
ejpam-803	107	7	and	and	CCONJ
ejpam-803	107	8	f	f	X
ejpam-803	107	9	k	k	PROPN
ejpam-803	107	10	be	be	AUX
ejpam-803	107	11	a	a	DET
ejpam-803	107	12	t	t	NOUN
ejpam-803	107	13	×	×	NOUN
ejpam-803	107	14	k	k	NOUN
ejpam-803	107	15	matrix	matrix	NOUN
ejpam-803	107	16	of	of	ADP
ejpam-803	107	17	factors	factor	NOUN
ejpam-803	107	18	(	(	PUNCT
ejpam-803	107	19	f	f	NOUN
ejpam-803	107	20	k	k	PROPN
ejpam-803	107	21	1	1	NUM
ejpam-803	107	22	,	,	PUNCT
ejpam-803	107	23	.	.	PUNCT
ejpam-803	107	24	.	.	PUNCT
ejpam-803	108	1	.	.	PUNCT
ejpam-803	109	1	,	,	PUNCT
ejpam-803	109	2	f	f	PROPN
ejpam-803	109	3	k	k	PROPN
ejpam-803	109	4	t	t	PROPN
ejpam-803	109	5	)	)	PUNCT
ejpam-803	109	6	′.	′.	NOUN
ejpam-803	109	7	from	from	ADP
ejpam-803	109	8	(	(	PUNCT
ejpam-803	109	9	4	4	NUM
ejpam-803	109	10	)	)	PUNCT
ejpam-803	109	11	,	,	PUNCT
ejpam-803	109	12	estimates	estimate	NOUN
ejpam-803	109	13	of	of	ADP
ejpam-803	109	14	λk	λk	NOUN
ejpam-803	109	15	i	i	PRON
ejpam-803	109	16	and	and	CCONJ
ejpam-803	109	17	f	f	PROPN
ejpam-803	109	18	k	k	PROPN
ejpam-803	109	19	t	t	PROPN
ejpam-803	109	20	are	be	AUX
ejpam-803	109	21	obtained	obtain	VERB
ejpam-803	109	22	by	by	ADP
ejpam-803	109	23	solving	solve	VERB
ejpam-803	109	24	the	the	DET
ejpam-803	109	25	optimization	optimization	NOUN
ejpam-803	109	26	problem	problem	NOUN
ejpam-803	109	27	:	:	PUNCT
ejpam-803	109	28	v	v	X
ejpam-803	109	29	(	(	PUNCT
ejpam-803	109	30	k	k	NOUN
ejpam-803	109	31	)	)	PUNCT
ejpam-803	109	32	=	=	SYM
ejpam-803	109	33	min	min	PROPN
ejpam-803	110	1	λk	λk	INTJ
ejpam-803	110	2	,	,	PUNCT
ejpam-803	110	3	f	f	PROPN
ejpam-803	110	4	k	k	PROPN
ejpam-803	110	5	(	(	PUNCT
ejpam-803	110	6	n	n	NOUN
ejpam-803	110	7	t	t	NOUN
ejpam-803	110	8	)	)	PUNCT
ejpam-803	111	1	−1	−1	NOUN
ejpam-803	111	2	n∑	n∑	NOUN
ejpam-803	111	3	i=1	i=1	X
ejpam-803	112	1	t∑	t∑	X
ejpam-803	112	2	t=1	t=1	ADV
ejpam-803	112	3	(	(	PUNCT
ejpam-803	112	4	x	x	X
ejpam-803	112	5	i	i	PRON
ejpam-803	112	6	t	t	VERB
ejpam-803	112	7	−λk′	−λk′	NUM
ejpam-803	113	1	i	i	PRON
ejpam-803	113	2	f	f	PROPN
ejpam-803	113	3	k	k	PROPN
ejpam-803	113	4	t	t	PROPN
ejpam-803	113	5	)	)	PUNCT
ejpam-803	113	6	2	2	NUM
ejpam-803	113	7	(	(	PUNCT
ejpam-803	113	8	7	7	NUM
ejpam-803	113	9	)	)	PUNCT
ejpam-803	113	10	let	let	VERB
ejpam-803	113	11	ef	ef	PROPN
ejpam-803	113	12	k	k	NOUN
ejpam-803	113	13	and	and	CCONJ
ejpam-803	113	14	eλk	eλk	NOUN
ejpam-803	113	15	be	be	AUX
ejpam-803	113	16	the	the	DET
ejpam-803	113	17	minimizers	minimizer	NOUN
ejpam-803	113	18	of	of	ADP
ejpam-803	113	19	equation	equation	NOUN
ejpam-803	113	20	(	(	PUNCT
ejpam-803	113	21	7	7	NUM
ejpam-803	113	22	)	)	PUNCT
ejpam-803	113	23	.	.	PUNCT
ejpam-803	114	1	since	since	SCONJ
ejpam-803	114	2	λk	λk	PROPN
ejpam-803	114	3	and	and	CCONJ
ejpam-803	114	4	f	f	PROPN
ejpam-803	114	5	k	k	PROPN
ejpam-803	114	6	are	be	AUX
ejpam-803	114	7	not	not	PART
ejpam-803	114	8	separately	separately	ADV
ejpam-803	114	9	identifiable	identifiable	ADJ
ejpam-803	114	10	,	,	PUNCT
ejpam-803	114	11	if	if	SCONJ
ejpam-803	114	12	n	n	PROPN
ejpam-803	114	13	>	>	X
ejpam-803	114	14	t	t	PROPN
ejpam-803	114	15	,	,	PUNCT
ejpam-803	114	16	a	a	DET
ejpam-803	114	17	computationally	computationally	ADV
ejpam-803	114	18	expedient	expedient	ADJ
ejpam-803	114	19	approach	approach	NOUN
ejpam-803	114	20	would	would	AUX
ejpam-803	114	21	be	be	AUX
ejpam-803	114	22	to	to	PART
ejpam-803	114	23	concentrate	concentrate	VERB
ejpam-803	114	24	out	out	ADP
ejpam-803	114	25	eλk	eλk	NOUN
ejpam-803	114	26	and	and	CCONJ
ejpam-803	114	27	minimize	minimize	VERB
ejpam-803	114	28	(	(	PUNCT
ejpam-803	114	29	7	7	NUM
ejpam-803	114	30	)	)	PUNCT
ejpam-803	114	31	subject	subject	NOUN
ejpam-803	114	32	to	to	ADP
ejpam-803	114	33	the	the	DET
ejpam-803	114	34	normalization	normalization	NOUN
ejpam-803	114	35	f	f	PROPN
ejpam-803	114	36	k′f	k′f	PROPN
ejpam-803	114	37	k	k	PROPN
ejpam-803	114	38	/	/	SYM
ejpam-803	114	39	t	t	PROPN
ejpam-803	114	40	=	=	SYM
ejpam-803	114	41	ik	ik	X
ejpam-803	114	42	.	.	PROPN
ejpam-803	114	43	minimizing	minimize	VERB
ejpam-803	114	44	(	(	PUNCT
ejpam-803	114	45	7	7	NUM
ejpam-803	114	46	)	)	PUNCT
ejpam-803	114	47	is	be	AUX
ejpam-803	114	48	equivalent	equivalent	ADJ
ejpam-803	114	49	to	to	ADP
ejpam-803	114	50	maximizing	maximize	VERB
ejpam-803	114	51	t	t	NOUN
ejpam-803	114	52	r[f	r[f	NOUN
ejpam-803	114	53	k′(x	k′(x	NOUN
ejpam-803	114	54	x	x	SYM
ejpam-803	114	55	′)f	′)f	X
ejpam-803	114	56	k	k	X
ejpam-803	114	57	]	]	X
ejpam-803	114	58	.	.	PUNCT
ejpam-803	115	1	this	this	DET
ejpam-803	115	2	optimization	optimization	NOUN
ejpam-803	115	3	is	be	AUX
ejpam-803	115	4	solved	solve	VERB
ejpam-803	115	5	by	by	ADP
ejpam-803	115	6	setting	set	VERB
ejpam-803	115	7	ef	ef	ADP
ejpam-803	115	8	k	k	NOUN
ejpam-803	115	9	to	to	PART
ejpam-803	115	10	be	be	AUX
ejpam-803	115	11	the	the	DET
ejpam-803	115	12	matrix	matrix	NOUN
ejpam-803	115	13	of	of	ADP
ejpam-803	115	14	the	the	DET
ejpam-803	115	15	k	k	PROPN
ejpam-803	115	16	eigenvectors	eigenvector	NOUN
ejpam-803	115	17	of	of	ADP
ejpam-803	115	18	x	x	PUNCT
ejpam-803	115	19	x	x	SYM
ejpam-803	115	20	′	′	NOUN
ejpam-803	115	21	that	that	PRON
ejpam-803	115	22	correspond	correspond	VERB
ejpam-803	115	23	to	to	ADP
ejpam-803	115	24	the	the	DET
ejpam-803	115	25	k	k	ADV
ejpam-803	115	26	largest	large	ADJ
ejpam-803	115	27	eigenvalues	eigenvalue	NOUN
ejpam-803	115	28	of	of	ADP
ejpam-803	115	29	x	x	PUNCT
ejpam-803	115	30	x	x	PROPN
ejpam-803	115	31	′.	′.	NOUN
ejpam-803	115	32	note	note	VERB
ejpam-803	115	33	that	that	SCONJ
ejpam-803	115	34	t	t	PROPN
ejpam-803	115	35	r	r	X
ejpam-803	115	36	[	[	X
ejpam-803	115	37	·	·	PUNCT
ejpam-803	115	38	]	]	PUNCT
ejpam-803	115	39	represents	represent	VERB
ejpam-803	115	40	the	the	DET
ejpam-803	115	41	matrix	matrix	NOUN
ejpam-803	115	42	trace	trace	NOUN
ejpam-803	115	43	.	.	PUNCT
ejpam-803	116	1	the	the	DET
ejpam-803	116	2	superscript	superscript	PROPN
ejpam-803	116	3	in	in	ADP
ejpam-803	116	4	λk	λk	PROPN
ejpam-803	116	5	and	and	CCONJ
ejpam-803	116	6	f	f	PROPN
ejpam-803	116	7	k	k	PROPN
ejpam-803	116	8	signifies	signify	VERB
ejpam-803	116	9	the	the	DET
ejpam-803	116	10	use	use	NOUN
ejpam-803	116	11	of	of	ADP
ejpam-803	116	12	k	k	PROPN
ejpam-803	116	13	factors	factor	NOUN
ejpam-803	116	14	in	in	ADP
ejpam-803	116	15	the	the	DET
ejpam-803	116	16	estimation	estimation	NOUN
ejpam-803	116	17	and	and	CCONJ
ejpam-803	116	18	the	the	DET
ejpam-803	116	19	fact	fact	NOUN
ejpam-803	116	20	that	that	SCONJ
ejpam-803	116	21	the	the	DET
ejpam-803	116	22	estimates	estimate	NOUN
ejpam-803	116	23	will	will	AUX
ejpam-803	116	24	depend	depend	VERB
ejpam-803	116	25	on	on	ADP
ejpam-803	116	26	k.	k.	PROPN
ejpam-803	116	27	let	let	VERB
ejpam-803	116	28	ed	ed	NOUN
ejpam-803	116	29	be	be	AUX
ejpam-803	116	30	a	a	DET
ejpam-803	116	31	k×	k×	PROPN
ejpam-803	116	32	k	k	PROPN
ejpam-803	116	33	diagonal	diagonal	ADJ
ejpam-803	116	34	matrix	matrix	NOUN
ejpam-803	116	35	consisting	consist	VERB
ejpam-803	116	36	of	of	ADP
ejpam-803	116	37	the	the	DET
ejpam-803	116	38	k	k	ADV
ejpam-803	116	39	largest	large	ADJ
ejpam-803	116	40	eigenvalues	eigenvalue	NOUN
ejpam-803	116	41	of	of	ADP
ejpam-803	116	42	x	x	PUNCT
ejpam-803	116	43	x	x	PROPN
ejpam-803	116	44	′.	′.	NOUN
ejpam-803	116	45	the	the	DET
ejpam-803	116	46	estimated	estimate	VERB
ejpam-803	116	47	factor	factor	NOUN
ejpam-803	116	48	matrix	matrix	NOUN
ejpam-803	116	49	,	,	PUNCT
ejpam-803	116	50	denoted	denote	VERB
ejpam-803	116	51	by	by	ADP
ejpam-803	116	52	ef	ef	PROPN
ejpam-803	116	53	k	k	PROPN
ejpam-803	116	54	,	,	PUNCT
ejpam-803	116	55	is	be	AUX
ejpam-803	116	56	p	p	PROPN
ejpam-803	116	57	t	t	PROPN
ejpam-803	116	58	times	time	NOUN
ejpam-803	116	59	the	the	DET
ejpam-803	116	60	eigenvectors	eigenvector	NOUN
ejpam-803	116	61	corresponding	correspond	VERB
ejpam-803	116	62	to	to	ADP
ejpam-803	116	63	the	the	DET
ejpam-803	116	64	k	k	ADV
ejpam-803	116	65	largest	large	ADJ
ejpam-803	116	66	eigenvalues	eigenvalue	NOUN
ejpam-803	116	67	of	of	ADP
ejpam-803	116	68	the	the	DET
ejpam-803	116	69	t	t	PROPN
ejpam-803	116	70	×	×	PROPN
ejpam-803	116	71	t	t	PROPN
ejpam-803	116	72	matrix	matrix	NOUN
ejpam-803	117	1	x	x	PUNCT
ejpam-803	117	2	x	x	NOUN
ejpam-803	117	3	′.	′.	NOUN
ejpam-803	117	4	given	give	VERB
ejpam-803	117	5	ef	ef	PROPN
ejpam-803	117	6	k	k	PROPN
ejpam-803	117	7	and	and	CCONJ
ejpam-803	117	8	the	the	DET
ejpam-803	117	9	normalization	normalization	NOUN
ejpam-803	117	10	f	f	PROPN
ejpam-803	117	11	k′f	k′f	PROPN
ejpam-803	117	12	k	k	PROPN
ejpam-803	117	13	/	/	SYM
ejpam-803	117	14	t	t	PROPN
ejpam-803	117	15	=	=	SYM
ejpam-803	117	16	ik	ik	X
ejpam-803	117	17	,	,	PUNCT
ejpam-803	117	18	eλk′	eλk′	PROPN
ejpam-803	117	19	=	=	SYM
ejpam-803	117	20	(	(	PUNCT
ejpam-803	117	21	ef	ef	X
ejpam-803	117	22	k′ef	k′ef	PROPN
ejpam-803	117	23	k)−1ef	k)−1ef	NOUN
ejpam-803	117	24	k′x	k′x	PUNCT
ejpam-803	118	1	=	=	VERB
ejpam-803	118	2	ef	ef	PROPN
ejpam-803	118	3	k′x	k′x	PROPN
ejpam-803	118	4	/	/	SYM
ejpam-803	118	5	t	t	PROPN
ejpam-803	118	6	is	be	AUX
ejpam-803	118	7	the	the	DET
ejpam-803	118	8	corresponding	corresponding	ADJ
ejpam-803	118	9	factor	factor	NOUN
ejpam-803	118	10	loadings	loading	NOUN
ejpam-803	118	11	matrix	matrix	NOUN
ejpam-803	118	12	.	.	PUNCT
ejpam-803	119	1	the	the	DET
ejpam-803	119	2	solution	solution	NOUN
ejpam-803	119	3	to	to	ADP
ejpam-803	119	4	the	the	DET
ejpam-803	119	5	optimization	optimization	NOUN
ejpam-803	119	6	problem	problem	NOUN
ejpam-803	119	7	in	in	ADP
ejpam-803	119	8	(	(	PUNCT
ejpam-803	119	9	7	7	X
ejpam-803	119	10	)	)	PUNCT
ejpam-803	119	11	is	be	AUX
ejpam-803	119	12	not	not	PART
ejpam-803	119	13	unique	unique	ADJ
ejpam-803	119	14	.	.	PUNCT
ejpam-803	120	1	if	if	SCONJ
ejpam-803	120	2	n	n	PROPN
ejpam-803	120	3	<	<	X
ejpam-803	120	4	t	t	PROPN
ejpam-803	120	5	,	,	PUNCT
ejpam-803	120	6	it	it	PRON
ejpam-803	120	7	becomes	become	VERB
ejpam-803	120	8	computationally	computationally	ADV
ejpam-803	120	9	advantageous	advantageous	ADJ
ejpam-803	120	10	to	to	PART
ejpam-803	120	11	concentrate	concentrate	VERB
ejpam-803	120	12	out	out	ADP
ejpam-803	120	13	f	f	PROPN
ejpam-803	120	14	k	k	PROPN
ejpam-803	120	15	and	and	CCONJ
ejpam-803	120	16	minimize	minimize	VERB
ejpam-803	120	17	(	(	PUNCT
ejpam-803	120	18	7	7	NUM
ejpam-803	120	19	)	)	PUNCT
ejpam-803	120	20	subject	subject	NOUN
ejpam-803	120	21	to	to	ADP
ejpam-803	120	22	λ	λ	PROPN
ejpam-803	120	23	k′	k′	PROPN
ejpam-803	120	24	λ	λ	X
ejpam-803	120	25	k	k	NOUN
ejpam-803	120	26	/n	/n	PUNCT
ejpam-803	120	27	=	=	SYM
ejpam-803	120	28	ik	ik	X
ejpam-803	120	29	.	.	PROPN
ejpam-803	121	1	this	this	DET
ejpam-803	121	2	minimization	minimization	NOUN
ejpam-803	121	3	is	be	AUX
ejpam-803	121	4	the	the	DET
ejpam-803	121	5	same	same	ADJ
ejpam-803	121	6	as	as	ADP
ejpam-803	121	7	maximizing	maximize	VERB
ejpam-803	121	8	t	t	PROPN
ejpam-803	121	9	r[λk′x	r[λk′x	PROPN
ejpam-803	121	10	′xλk	′xλk	PROPN
ejpam-803	121	11	]	]	PUNCT
ejpam-803	121	12	,	,	PUNCT
ejpam-803	121	13	the	the	DET
ejpam-803	121	14	solution	solution	NOUN
ejpam-803	121	15	of	of	ADP
ejpam-803	121	16	which	which	PRON
ejpam-803	121	17	is	be	AUX
ejpam-803	121	18	to	to	PART
ejpam-803	121	19	set	set	VERB
ejpam-803	121	20	λ	λ	PROPN
ejpam-803	121	21	k	k	PROPN
ejpam-803	121	22	equal	equal	ADJ
ejpam-803	121	23	to	to	ADP
ejpam-803	121	24	the	the	DET
ejpam-803	121	25	eigenvectors	eigenvector	NOUN
ejpam-803	121	26	of	of	ADP
ejpam-803	121	27	the	the	DET
ejpam-803	121	28	n	n	NUM
ejpam-803	121	29	×	×	NOUN
ejpam-803	121	30	n	n	NOUN
ejpam-803	121	31	matrix	matrix	NOUN
ejpam-803	121	32	x	x	PUNCT
ejpam-803	121	33	′x	′x	NOUN
ejpam-803	121	34	that	that	PRON
ejpam-803	121	35	correspond	correspond	VERB
ejpam-803	121	36	to	to	ADP
ejpam-803	121	37	its	its	PRON
ejpam-803	121	38	k	k	ADV
ejpam-803	121	39	largest	large	ADJ
ejpam-803	121	40	eigenvalues	eigenvalue	NOUN
ejpam-803	121	41	.	.	PUNCT
ejpam-803	122	1	one	one	PRON
ejpam-803	122	2	can	can	AUX
ejpam-803	122	3	consequently	consequently	ADV
ejpam-803	122	4	estimate	estimate	VERB
ejpam-803	122	5	the	the	DET
ejpam-803	122	6	factors	factor	NOUN
ejpam-803	122	7	as	as	ADP
ejpam-803	122	8	f	f	PROPN
ejpam-803	122	9	k	k	PROPN
ejpam-803	122	10	=	=	PUNCT
ejpam-803	122	11	x	x	SYM
ejpam-803	122	12	′λk	′λk	NOUN
ejpam-803	122	13	/n	/n	PUNCT
ejpam-803	122	14	.	.	PUNCT
ejpam-803	123	1	ef	ef	PROPN
ejpam-803	124	1	k	k	PROPN
ejpam-803	124	2	and	and	CCONJ
ejpam-803	124	3	f	f	PROPN
ejpam-803	124	4	k	k	PROPN
ejpam-803	124	5	span	span	VERB
ejpam-803	124	6	the	the	DET
ejpam-803	124	7	same	same	ADJ
ejpam-803	124	8	column	column	NOUN
ejpam-803	124	9	spaces	space	NOUN
ejpam-803	124	10	,	,	PUNCT
ejpam-803	124	11	hence	hence	ADV
ejpam-803	124	12	for	for	ADP
ejpam-803	124	13	forecasting	forecasting	NOUN
ejpam-803	124	14	purposes	purpose	NOUN
ejpam-803	124	15	,	,	PUNCT
ejpam-803	124	16	they	they	PRON
ejpam-803	124	17	can	can	AUX
ejpam-803	124	18	be	be	AUX
ejpam-803	124	19	used	use	VERB
ejpam-803	124	20	interchangeably	interchangeably	ADV
ejpam-803	124	21	depending	depend	VERB
ejpam-803	124	22	on	on	ADP
ejpam-803	124	23	which	which	PRON
ejpam-803	124	24	one	one	NOUN
ejpam-803	124	25	is	be	AUX
ejpam-803	124	26	more	more	ADV
ejpam-803	124	27	computationally	computationally	ADV
ejpam-803	124	28	efficient	efficient	ADJ
ejpam-803	124	29	.	.	PUNCT
ejpam-803	125	1	given	give	VERB
ejpam-803	125	2	ef	ef	PROPN
ejpam-803	125	3	k	k	PROPN
ejpam-803	125	4	and	and	CCONJ
ejpam-803	125	5	eλk	eλk	NOUN
ejpam-803	125	6	,	,	PUNCT
ejpam-803	125	7	let	let	VERB
ejpam-803	125	8	bv	bv	PROPN
ejpam-803	125	9	(	(	PUNCT
ejpam-803	125	10	k	k	NOUN
ejpam-803	125	11	)	)	PUNCT
ejpam-803	125	12	=	=	SYM
ejpam-803	125	13	(	(	PUNCT
ejpam-803	125	14	n	n	X
ejpam-803	125	15	t	t	NOUN
ejpam-803	125	16	)	)	PUNCT
ejpam-803	126	1	−1	−1	NOUN
ejpam-803	126	2	n∑	n∑	NOUN
ejpam-803	126	3	i=1	i=1	X
ejpam-803	127	1	t∑	t∑	X
ejpam-803	127	2	t=1	t=1	ADV
ejpam-803	127	3	(	(	PUNCT
ejpam-803	127	4	x	x	X
ejpam-803	127	5	i	i	PRON
ejpam-803	127	6	t	t	X
ejpam-803	127	7	−	−	PROPN
ejpam-803	127	8	eλk′	eλk′	PROPN
ejpam-803	128	1	i	i	PRON
ejpam-803	128	2	ef	ef	VERB
ejpam-803	128	3	k	k	PROPN
ejpam-803	128	4	t	t	PROPN
ejpam-803	128	5	)	)	PUNCT
ejpam-803	128	6	2	2	NUM
ejpam-803	128	7	be	be	AUX
ejpam-803	128	8	the	the	DET
ejpam-803	128	9	sum	sum	NOUN
ejpam-803	128	10	of	of	ADP
ejpam-803	128	11	squared	square	VERB
ejpam-803	128	12	residuals	residual	NOUN
ejpam-803	128	13	from	from	ADP
ejpam-803	128	14	regressions	regression	NOUN
ejpam-803	128	15	of	of	ADP
ejpam-803	128	16	x	x	PUNCT
ejpam-803	128	17	i	i	NOUN
ejpam-803	128	18	on	on	ADP
ejpam-803	128	19	the	the	DET
ejpam-803	128	20	k	k	PROPN
ejpam-803	128	21	factors	factor	NOUN
ejpam-803	128	22	,	,	PUNCT
ejpam-803	128	23	∀i	∀i	NOUN
ejpam-803	128	24	.	.	PUNCT
ejpam-803	129	1	a	a	DET
ejpam-803	129	2	penalty	penalty	NOUN
ejpam-803	129	3	function	function	NOUN
ejpam-803	129	4	for	for	ADP
ejpam-803	129	5	over	over	ADP
ejpam-803	129	6	fitting	fitting	ADJ
ejpam-803	129	7	,	,	PUNCT
ejpam-803	129	8	g(n	g(n	PROPN
ejpam-803	129	9	,	,	PUNCT
ejpam-803	129	10	t	t	PROPN
ejpam-803	129	11	)	)	PUNCT
ejpam-803	129	12	,	,	PUNCT
ejpam-803	129	13	is	be	AUX
ejpam-803	129	14	chosen	choose	VERB
ejpam-803	129	15	such	such	ADJ
ejpam-803	129	16	that	that	SCONJ
ejpam-803	129	17	the	the	DET
ejpam-803	129	18	loss	loss	NOUN
ejpam-803	129	19	function	function	NOUN
ejpam-803	129	20	ic(k	ic(k	PUNCT
ejpam-803	129	21	)	)	PUNCT
ejpam-803	130	1	=	=	SYM
ejpam-803	130	2	log(bv	log(bv	PROPN
ejpam-803	130	3	(	(	PUNCT
ejpam-803	130	4	k))+	k))+	PROPN
ejpam-803	130	5	kg(n	kg(n	PROPN
ejpam-803	130	6	,	,	PUNCT
ejpam-803	130	7	t	t	PROPN
ejpam-803	130	8	)	)	PUNCT
ejpam-803	130	9	(	(	PUNCT
ejpam-803	130	10	8)	8)	NUM
ejpam-803	130	11	n.	n.	NOUN
ejpam-803	130	12	armah	armah	NOUN
ejpam-803	130	13	and	and	CCONJ
ejpam-803	130	14	n.	n.	PROPN
ejpam-803	130	15	swanson	swanson	PROPN
ejpam-803	130	16	/	/	SYM
ejpam-803	130	17	eur	eur	PROPN
ejpam-803	130	18	.	.	PUNCT
ejpam-803	131	1	j.	j.	PROPN
ejpam-803	131	2	pure	pure	PROPN
ejpam-803	131	3	appl	appl	PROPN
ejpam-803	131	4	.	.	PROPN
ejpam-803	131	5	math	math	PROPN
ejpam-803	131	6	,	,	PUNCT
ejpam-803	131	7	3	3	NUM
ejpam-803	131	8	(	(	PUNCT
ejpam-803	131	9	2010	2010	NUM
ejpam-803	131	10	)	)	PUNCT
ejpam-803	131	11	,	,	PUNCT
ejpam-803	131	12	478	478	NUM
ejpam-803	131	13	-	-	SYM
ejpam-803	131	14	501	501	NUM
ejpam-803	131	15	482	482	NUM
ejpam-803	131	16	can	can	AUX
ejpam-803	131	17	consistently	consistently	ADV
ejpam-803	131	18	estimate	estimate	VERB
ejpam-803	131	19	r.	r.	PROPN
ejpam-803	131	20	let	let	VERB
ejpam-803	131	21	kmax	kmax	PROPN
ejpam-803	131	22	be	be	AUX
ejpam-803	131	23	a	a	DET
ejpam-803	131	24	bounded	bound	VERB
ejpam-803	131	25	integer	integer	NOUN
ejpam-803	132	1	such	such	ADJ
ejpam-803	132	2	that	that	SCONJ
ejpam-803	132	3	r	r	NOUN
ejpam-803	132	4	≤	≤	NUM
ejpam-803	132	5	k	k	PROPN
ejpam-803	132	6	max	max	PROPN
ejpam-803	132	7	.	.	PUNCT
ejpam-803	132	8	bai	bai	PROPN
ejpam-803	132	9	and	and	CCONJ
ejpam-803	132	10	ng	ng	PROPN
ejpam-803	133	1	[	[	X
ejpam-803	133	2	3	3	X
ejpam-803	133	3	]	]	X
ejpam-803	133	4	propose	propose	VERB
ejpam-803	133	5	three	three	NUM
ejpam-803	133	6	versions	version	NOUN
ejpam-803	133	7	of	of	ADP
ejpam-803	133	8	the	the	DET
ejpam-803	133	9	penalty	penalty	NOUN
ejpam-803	133	10	function	function	NOUN
ejpam-803	133	11	g(n	g(n	PROPN
ejpam-803	133	12	,	,	PUNCT
ejpam-803	133	13	t	t	PROPN
ejpam-803	133	14	)	)	PUNCT
ejpam-803	133	15	,	,	PUNCT
ejpam-803	133	16	namely	namely	ADV
ejpam-803	133	17	,	,	PUNCT
ejpam-803	133	18	g1(n	g1(n	PROPN
ejpam-803	133	19	,	,	PUNCT
ejpam-803	133	20	t	t	NOUN
ejpam-803	133	21	)	)	PUNCT
ejpam-803	134	1	=	=	VERB
ejpam-803	134	2	�	�	PROPN
ejpam-803	134	3	n+t	n+t	NUM
ejpam-803	134	4	n	n	PROPN
ejpam-803	134	5	t	t	PROPN
ejpam-803	134	6	�	�	PROPN
ejpam-803	134	7	log	log	VERB
ejpam-803	134	8	�	�	PROPN
ejpam-803	134	9	n	n	ADP
ejpam-803	134	10	t	t	PROPN
ejpam-803	134	11	n+t	n+t	X
ejpam-803	134	12	�	�	PROPN
ejpam-803	134	13	,	,	PUNCT
ejpam-803	134	14	g2(n	g2(n	PROPN
ejpam-803	134	15	,	,	PUNCT
ejpam-803	134	16	t	t	NOUN
ejpam-803	134	17	)	)	PUNCT
ejpam-803	134	18	=	=	SYM
ejpam-803	134	19	�	�	PROPN
ejpam-803	134	20	n+t	n+t	NUM
ejpam-803	134	21	n	n	PROPN
ejpam-803	134	22	t	t	PROPN
ejpam-803	134	23	�	�	PROPN
ejpam-803	134	24	log	log	VERB
ejpam-803	134	25	c2	c2	PROPN
ejpam-803	134	26	n	n	PROPN
ejpam-803	134	27	t	t	NOUN
ejpam-803	134	28	,	,	PUNCT
ejpam-803	134	29	and	and	CCONJ
ejpam-803	134	30	g3(n	g3(n	PROPN
ejpam-803	134	31	,	,	PUNCT
ejpam-803	134	32	t	t	NOUN
ejpam-803	134	33	)	)	PUNCT
ejpam-803	135	1	=	=	SYM
ejpam-803	135	2	�	�	PROPN
ejpam-803	135	3	log(c2	log(c2	PROPN
ejpam-803	135	4	n	n	PRON
ejpam-803	135	5	t	t	NOUN
ejpam-803	135	6	)	)	PUNCT
ejpam-803	136	1	c2	c2	PROPN
ejpam-803	136	2	n	n	PROPN
ejpam-803	136	3	t	t	PROPN
ejpam-803	136	4	�	�	PROPN
ejpam-803	136	5	,	,	PUNCT
ejpam-803	136	6	all	all	PRON
ejpam-803	136	7	of	of	ADP
ejpam-803	136	8	which	which	PRON
ejpam-803	136	9	lead	lead	VERB
ejpam-803	136	10	to	to	ADP
ejpam-803	136	11	consistent	consistent	ADJ
ejpam-803	136	12	estimation	estimation	NOUN
ejpam-803	136	13	of	of	ADP
ejpam-803	136	14	r.	r.	PROPN
ejpam-803	136	15	in	in	ADP
ejpam-803	136	16	our	our	PRON
ejpam-803	136	17	empirical	empirical	ADJ
ejpam-803	136	18	and	and	CCONJ
ejpam-803	136	19	monte	monte	PROPN
ejpam-803	136	20	carlo	carlo	PROPN
ejpam-803	136	21	experiments	experiment	NOUN
ejpam-803	136	22	,	,	PUNCT
ejpam-803	136	23	we	we	PRON
ejpam-803	136	24	use	use	VERB
ejpam-803	136	25	g2(n	g2(n	PROPN
ejpam-803	136	26	,	,	PUNCT
ejpam-803	136	27	t	t	PROPN
ejpam-803	136	28	)	)	PUNCT
ejpam-803	136	29	.	.	PUNCT
ejpam-803	137	1	of	of	ADP
ejpam-803	137	2	note	note	NOUN
ejpam-803	137	3	is	be	AUX
ejpam-803	137	4	that	that	SCONJ
ejpam-803	137	5	we	we	PRON
ejpam-803	137	6	tried	try	VERB
ejpam-803	137	7	the	the	DET
ejpam-803	137	8	other	other	ADJ
ejpam-803	137	9	penalty	penalty	NOUN
ejpam-803	137	10	functions	function	NOUN
ejpam-803	137	11	above	above	ADV
ejpam-803	137	12	,	,	PUNCT
ejpam-803	137	13	and	and	CCONJ
ejpam-803	137	14	our	our	PRON
ejpam-803	137	15	results	result	NOUN
ejpam-803	137	16	were	be	AUX
ejpam-803	137	17	qualitatively	qualitatively	ADV
ejpam-803	137	18	the	the	DET
ejpam-803	137	19	same	same	ADJ
ejpam-803	137	20	.	.	PUNCT
ejpam-803	138	1	however	however	ADV
ejpam-803	138	2	,	,	PUNCT
ejpam-803	138	3	[	[	X
ejpam-803	138	4	3	3	NUM
ejpam-803	138	5	]	]	PUNCT
ejpam-803	138	6	,	,	PUNCT
ejpam-803	138	7	as	as	ADV
ejpam-803	138	8	well	well	ADV
ejpam-803	138	9	as	as	ADP
ejpam-803	138	10	others	other	NOUN
ejpam-803	138	11	,	,	PUNCT
ejpam-803	138	12	have	have	AUX
ejpam-803	138	13	shown	show	VERB
ejpam-803	138	14	that	that	SCONJ
ejpam-803	138	15	in	in	ADP
ejpam-803	138	16	certain	certain	ADJ
ejpam-803	138	17	contexts	context	NOUN
ejpam-803	138	18	,	,	PUNCT
ejpam-803	138	19	results	result	NOUN
ejpam-803	138	20	are	be	AUX
ejpam-803	138	21	sensitive	sensitive	ADJ
ejpam-803	138	22	to	to	ADP
ejpam-803	138	23	the	the	DET
ejpam-803	138	24	choice	choice	NOUN
ejpam-803	138	25	of	of	ADP
ejpam-803	138	26	penalty	penalty	NOUN
ejpam-803	138	27	function	function	NOUN
ejpam-803	138	28	.	.	PUNCT
ejpam-803	139	1	hence	hence	ADV
ejpam-803	139	2	,	,	PUNCT
ejpam-803	139	3	(	(	PUNCT
ejpam-803	139	4	8)	8)	NUM
ejpam-803	139	5	becomes	become	VERB
ejpam-803	139	6	:	:	PUNCT
ejpam-803	139	7	ic(k	ic(k	X
ejpam-803	139	8	)	)	PUNCT
ejpam-803	140	1	=	=	SYM
ejpam-803	140	2	log(bv	log(bv	NOUN
ejpam-803	140	3	(	(	PUNCT
ejpam-803	140	4	k	k	NOUN
ejpam-803	140	5	)	)	PUNCT
ejpam-803	140	6	)	)	PUNCT
ejpam-803	141	1	+	+	CCONJ
ejpam-803	141	2	k	k	X
ejpam-803	141	3	(	(	PUNCT
ejpam-803	141	4	n	n	PROPN
ejpam-803	141	5	+	+	SYM
ejpam-803	141	6	t	t	PROPN
ejpam-803	141	7	n	n	PROPN
ejpam-803	141	8	t	t	NOUN
ejpam-803	141	9	)	)	PUNCT
ejpam-803	141	10	log	log	VERB
ejpam-803	141	11	c2	c2	PROPN
ejpam-803	141	12	n	n	PROPN
ejpam-803	141	13	t	t	PROPN
ejpam-803	141	14	where	where	SCONJ
ejpam-803	141	15	cn	cn	PROPN
ejpam-803	141	16	t	t	PROPN
ejpam-803	141	17	=	=	PROPN
ejpam-803	141	18	min{pn	min{pn	PRON
ejpam-803	141	19	,	,	PUNCT
ejpam-803	141	20	p	p	PROPN
ejpam-803	141	21	t	t	PROPN
ejpam-803	141	22	}	}	PUNCT
ejpam-803	141	23	.	.	PUNCT
ejpam-803	142	1	the	the	DET
ejpam-803	142	2	consistent	consistent	ADJ
ejpam-803	142	3	estimate	estimate	NOUN
ejpam-803	142	4	of	of	ADP
ejpam-803	142	5	the	the	DET
ejpam-803	142	6	true	true	ADJ
ejpam-803	142	7	number	number	NOUN
ejpam-803	142	8	of	of	ADP
ejpam-803	142	9	factors	factor	NOUN
ejpam-803	142	10	is	be	AUX
ejpam-803	142	11	then	then	ADV
ejpam-803	142	12	:	:	PUNCT
ejpam-803	142	13	bk	bk	NOUN
ejpam-803	142	14	=	=	SYM
ejpam-803	142	15	arg	arg	NOUN
ejpam-803	142	16	min	min	PROPN
ejpam-803	142	17	0≤k≤k	0≤k≤k	NUM
ejpam-803	142	18	max	max	PROPN
ejpam-803	142	19	ic(k	ic(k	PROPN
ejpam-803	142	20	)	)	PUNCT
ejpam-803	142	21	,	,	PUNCT
ejpam-803	142	22	(	(	PUNCT
ejpam-803	142	23	9	9	X
ejpam-803	142	24	)	)	PUNCT
ejpam-803	142	25	and	and	CCONJ
ejpam-803	142	26	limn	limn	NOUN
ejpam-803	142	27	,	,	PUNCT
ejpam-803	142	28	t→∞prob[bk	t→∞prob[bk	X
ejpam-803	142	29	=	=	SYM
ejpam-803	142	30	r	r	X
ejpam-803	142	31	]	]	X
ejpam-803	142	32	=	=	SYM
ejpam-803	142	33	1	1	NUM
ejpam-803	143	1	if	if	SCONJ
ejpam-803	143	2	g(n	g(n	PROPN
ejpam-803	143	3	,	,	PUNCT
ejpam-803	143	4	t	t	PROPN
ejpam-803	143	5	)	)	PUNCT
ejpam-803	143	6	→	→	SYM
ejpam-803	143	7	0	0	NUM
ejpam-803	143	8	and	and	CCONJ
ejpam-803	143	9	c2	c2	PROPN
ejpam-803	143	10	n	n	PROPN
ejpam-803	143	11	t	t	PROPN
ejpam-803	143	12	·	·	PUNCT
ejpam-803	143	13	g(n	g(n	PROPN
ejpam-803	143	14	,	,	PUNCT
ejpam-803	143	15	t	t	PROPN
ejpam-803	143	16	)	)	PUNCT
ejpam-803	143	17	→∞	→∞	PROPN
ejpam-803	143	18	as	as	ADP
ejpam-803	143	19	n	n	PROPN
ejpam-803	143	20	,	,	PUNCT
ejpam-803	143	21	t	t	PROPN
ejpam-803	143	22	→∞	→∞	PROPN
ejpam-803	143	23	,	,	PUNCT
ejpam-803	143	24	as	as	SCONJ
ejpam-803	143	25	shown	show	VERB
ejpam-803	143	26	in	in	ADP
ejpam-803	143	27	[	[	X
ejpam-803	143	28	3	3	NUM
ejpam-803	143	29	]	]	PUNCT
ejpam-803	143	30	.	.	PUNCT
ejpam-803	144	1	3	3	X
ejpam-803	144	2	.	.	X
ejpam-803	144	3	recent	recent	ADJ
ejpam-803	144	4	developments	development	NOUN
ejpam-803	144	5	:	:	PUNCT
ejpam-803	144	6	using	use	VERB
ejpam-803	144	7	proxies	proxy	NOUN
ejpam-803	144	8	in	in	ADP
ejpam-803	144	9	place	place	NOUN
ejpam-803	144	10	of	of	ADP
ejpam-803	144	11	factors	factor	NOUN
ejpam-803	144	12	reconsider	reconsider	VERB
ejpam-803	144	13	the	the	DET
ejpam-803	144	14	general	general	ADJ
ejpam-803	144	15	equation	equation	NOUN
ejpam-803	144	16	(	(	PUNCT
ejpam-803	144	17	3	3	NUM
ejpam-803	144	18	)	)	PUNCT
ejpam-803	144	19	,	,	PUNCT
ejpam-803	144	20	yt+h	yt+h	X
ejpam-803	145	1	=	=	PUNCT
ejpam-803	145	2	α	α	PRON
ejpam-803	145	3	′ft	′ft	NOUN
ejpam-803	146	1	+	+	X
ejpam-803	146	2	β	β	X
ejpam-803	146	3	′wt+ǫt+h	′wt+ǫt+h	X
ejpam-803	146	4	.	.	PUNCT
ejpam-803	147	1	as	as	SCONJ
ejpam-803	147	2	mentioned	mention	VERB
ejpam-803	147	3	above	above	ADV
ejpam-803	147	4	,	,	PUNCT
ejpam-803	147	5	and	and	CCONJ
ejpam-803	147	6	shown	show	VERB
ejpam-803	147	7	in	in	ADP
ejpam-803	147	8	[	[	X
ejpam-803	147	9	18	18	NUM
ejpam-803	147	10	]	]	PUNCT
ejpam-803	147	11	and	and	CCONJ
ejpam-803	147	12	[	[	X
ejpam-803	147	13	3	3	NUM
ejpam-803	147	14	]	]	PUNCT
ejpam-803	147	15	,	,	PUNCT
ejpam-803	147	16	under	under	ADP
ejpam-803	147	17	a	a	DET
ejpam-803	147	18	set	set	NOUN
ejpam-803	147	19	of	of	ADP
ejpam-803	147	20	moment	moment	NOUN
ejpam-803	147	21	conditions	condition	NOUN
ejpam-803	147	22	on	on	ADP
ejpam-803	147	23	(	(	PUNCT
ejpam-803	147	24	ǫ	ǫ	NOUN
ejpam-803	147	25	,	,	PUNCT
ejpam-803	147	26	e	e	NOUN
ejpam-803	147	27	,	,	PUNCT
ejpam-803	147	28	f0	f0	PROPN
ejpam-803	147	29	)	)	PUNCT
ejpam-803	147	30	and	and	CCONJ
ejpam-803	147	31	an	an	DET
ejpam-803	147	32	asymptotic	asymptotic	ADJ
ejpam-803	147	33	rank	rank	NOUN
ejpam-803	147	34	condition	condition	NOUN
ejpam-803	147	35	on	on	ADP
ejpam-803	147	36	λ	λ	NOUN
ejpam-803	147	37	,	,	PUNCT
ejpam-803	147	38	if	if	SCONJ
ejpam-803	147	39	the	the	DET
ejpam-803	147	40	space	space	NOUN
ejpam-803	147	41	spanned	span	VERB
ejpam-803	147	42	by	by	ADP
ejpam-803	147	43	ft	ft	PRON
ejpam-803	147	44	can	can	AUX
ejpam-803	147	45	be	be	AUX
ejpam-803	147	46	consistently	consistently	ADV
ejpam-803	147	47	estimated	estimate	VERB
ejpam-803	147	48	,	,	PUNCT
ejpam-803	147	49	then	then	ADV
ejpam-803	147	50	p	p	PROPN
ejpam-803	147	51	t	t	PROPN
ejpam-803	147	52	consistent	consistent	ADJ
ejpam-803	147	53	estimates	estimate	NOUN
ejpam-803	147	54	of	of	ADP
ejpam-803	147	55	α	α	PROPN
ejpam-803	147	56	and	and	CCONJ
ejpam-803	147	57	β	β	X
ejpam-803	147	58	are	be	AUX
ejpam-803	147	59	obtainable	obtainable	ADJ
ejpam-803	147	60	.	.	PUNCT
ejpam-803	148	1	under	under	ADP
ejpam-803	148	2	a	a	DET
ejpam-803	148	3	similar	similar	ADJ
ejpam-803	148	4	set	set	NOUN
ejpam-803	148	5	of	of	ADP
ejpam-803	148	6	conditions	condition	NOUN
ejpam-803	148	7	,	,	PUNCT
ejpam-803	148	8	it	it	PRON
ejpam-803	148	9	is	be	AUX
ejpam-803	148	10	also	also	ADV
ejpam-803	148	11	possible	possible	ADJ
ejpam-803	148	12	to	to	PART
ejpam-803	148	13	obtain	obtain	VERB
ejpam-803	148	14	min	min	NOUN
ejpam-803	148	15	[	[	PUNCT
ejpam-803	148	16	p	p	NOUN
ejpam-803	148	17	n	n	NOUN
ejpam-803	148	18	,	,	PUNCT
ejpam-803	148	19	p	p	PROPN
ejpam-803	148	20	t	t	X
ejpam-803	148	21	]	]	X
ejpam-803	148	22	consistent	consistent	ADJ
ejpam-803	148	23	forecasts	forecast	NOUN
ejpam-803	148	24	if	if	SCONJ
ejpam-803	148	25	p	p	PROPN
ejpam-803	148	26	t	t	PROPN
ejpam-803	148	27	/	/	SYM
ejpam-803	148	28	n	n	PROPN
ejpam-803	148	29	→	→	SYM
ejpam-803	148	30	0	0	NUM
ejpam-803	148	31	as	as	ADP
ejpam-803	148	32	n	n	PROPN
ejpam-803	148	33	,	,	PUNCT
ejpam-803	148	34	t	t	PROPN
ejpam-803	148	35	→	→	SYM
ejpam-803	148	36	∞.	∞.	PROPN
ejpam-803	148	37	let	let	VERB
ejpam-803	148	38	zt	zt	PROPN
ejpam-803	148	39	=	=	PRON
ejpam-803	149	1	(	(	PUNCT
ejpam-803	149	2	f	f	NOUN
ejpam-803	149	3	′	′	NUM
ejpam-803	149	4	t	t	PROPN
ejpam-803	149	5	,	,	PUNCT
ejpam-803	149	6	w	w	PROPN
ejpam-803	149	7	′	′	NUM
ejpam-803	149	8	t	t	NOUN
ejpam-803	149	9	)	)	PUNCT
ejpam-803	149	10	′	′	ADP
ejpam-803	149	11	;	;	PUNCT
ejpam-803	149	12	e(ǫt+h|yt	e(ǫt+h|yt	NUM
ejpam-803	149	13	,	,	PUNCT
ejpam-803	149	14	zt	zt	PROPN
ejpam-803	149	15	,	,	PUNCT
ejpam-803	149	16	yt−1	yt−1	PROPN
ejpam-803	149	17	,	,	PUNCT
ejpam-803	149	18	zt−1	zt−1	PROPN
ejpam-803	149	19	,	,	PUNCT
ejpam-803	149	20	.	.	PUNCT
ejpam-803	149	21	.	.	PUNCT
ejpam-803	149	22	.	.	PUNCT
ejpam-803	149	23	)	)	PUNCT
ejpam-803	150	1	=	=	PUNCT
ejpam-803	150	2	0	0	NUM
ejpam-803	150	3	,	,	PUNCT
ejpam-803	150	4	for	for	ADP
ejpam-803	150	5	any	any	DET
ejpam-803	150	6	h	h	NOUN
ejpam-803	150	7	>	>	X
ejpam-803	150	8	0	0	NUM
ejpam-803	150	9	;	;	PUNCT
ejpam-803	150	10	and	and	CCONJ
ejpam-803	150	11	let	let	VERB
ejpam-803	150	12	zt	zt	PROPN
ejpam-803	150	13	and	and	CCONJ
ejpam-803	150	14	ǫt	ǫt	PROPN
ejpam-803	150	15	be	be	AUX
ejpam-803	150	16	independent	independent	ADJ
ejpam-803	150	17	of	of	ADP
ejpam-803	150	18	the	the	DET
ejpam-803	150	19	idiosyncratic	idiosyncratic	ADJ
ejpam-803	150	20	errors	error	NOUN
ejpam-803	150	21	eis	eis	PROPN
ejpam-803	150	22	,	,	PUNCT
ejpam-803	150	23	∀i	∀i	NOUN
ejpam-803	150	24	,	,	PUNCT
ejpam-803	150	25	s.	s.	PROPN
ejpam-803	150	26	if	if	SCONJ
ejpam-803	150	27	ft	ft	NOUN
ejpam-803	150	28	is	be	AUX
ejpam-803	150	29	observable	observable	ADJ
ejpam-803	150	30	and	and	CCONJ
ejpam-803	150	31	α	α	PROPN
ejpam-803	150	32	and	and	CCONJ
ejpam-803	150	33	β	β	X
ejpam-803	150	34	are	be	AUX
ejpam-803	150	35	known	know	VERB
ejpam-803	150	36	,	,	PUNCT
ejpam-803	150	37	based	base	VERB
ejpam-803	150	38	on	on	ADP
ejpam-803	150	39	the	the	DET
ejpam-803	150	40	above	above	ADJ
ejpam-803	150	41	assumption	assumption	NOUN
ejpam-803	150	42	that	that	SCONJ
ejpam-803	150	43	the	the	DET
ejpam-803	150	44	mean	mean	NOUN
ejpam-803	150	45	of	of	ADP
ejpam-803	150	46	ǫt+h	ǫt+h	PROPN
ejpam-803	150	47	conditional	conditional	NOUN
ejpam-803	150	48	on	on	ADP
ejpam-803	150	49	past	past	ADJ
ejpam-803	150	50	information	information	NOUN
ejpam-803	150	51	is	be	AUX
ejpam-803	150	52	zero	zero	NUM
ejpam-803	150	53	,	,	PUNCT
ejpam-803	150	54	the	the	DET
ejpam-803	150	55	conditional	conditional	ADJ
ejpam-803	150	56	mean	mean	NOUN
ejpam-803	150	57	and	and	CCONJ
ejpam-803	150	58	minimum	minimum	ADJ
ejpam-803	150	59	mean	mean	NOUN
ejpam-803	150	60	square	square	NOUN
ejpam-803	150	61	error	error	NOUN
ejpam-803	150	62	forecast	forecast	NOUN
ejpam-803	150	63	of	of	ADP
ejpam-803	150	64	yt+h	yt+h	PROPN
ejpam-803	150	65	is	be	AUX
ejpam-803	150	66	given	give	VERB
ejpam-803	150	67	by	by	ADP
ejpam-803	150	68	:	:	PUNCT
ejpam-803	150	69	yt+h|t	yt+h|t	PROPN
ejpam-803	150	70	=	=	SYM
ejpam-803	150	71	e(yt+h|zt	e(yt+h|zt	PROPN
ejpam-803	150	72	,	,	PUNCT
ejpam-803	150	73	zt−1	zt−1	PROPN
ejpam-803	150	74	,	,	PUNCT
ejpam-803	150	75	.	.	PUNCT
ejpam-803	150	76	.	.	PUNCT
ejpam-803	150	77	.	.	PUNCT
ejpam-803	150	78	)	)	PUNCT
ejpam-803	151	1	=	=	PRON
ejpam-803	151	2	α′ft	α′ft	PROPN
ejpam-803	151	3	+	+	CCONJ
ejpam-803	151	4	β	β	X
ejpam-803	151	5	′wt	′wt	NOUN
ejpam-803	151	6	≡	≡	PROPN
ejpam-803	151	7	δ′zt	δ′zt	VERB
ejpam-803	151	8	such	such	DET
ejpam-803	151	9	a	a	DET
ejpam-803	151	10	prediction	prediction	NOUN
ejpam-803	151	11	is	be	AUX
ejpam-803	151	12	not	not	PART
ejpam-803	151	13	feasible	feasible	ADJ
ejpam-803	151	14	,	,	PUNCT
ejpam-803	151	15	however	however	ADV
ejpam-803	151	16	,	,	PUNCT
ejpam-803	151	17	since	since	SCONJ
ejpam-803	151	18	α	α	X
ejpam-803	151	19	,	,	PUNCT
ejpam-803	151	20	β	β	X
ejpam-803	151	21	and	and	CCONJ
ejpam-803	151	22	ft	ft	PROPN
ejpam-803	151	23	are	be	AUX
ejpam-803	151	24	all	all	ADV
ejpam-803	151	25	unobserved	unobserved	ADJ
ejpam-803	151	26	.	.	PUNCT
ejpam-803	152	1	the	the	DET
ejpam-803	152	2	feasible	feasible	ADJ
ejpam-803	152	3	prediction	prediction	NOUN
ejpam-803	152	4	that	that	PRON
ejpam-803	152	5	replaces	replace	VERB
ejpam-803	152	6	the	the	DET
ejpam-803	152	7	unknown	unknown	ADJ
ejpam-803	152	8	objects	object	NOUN
ejpam-803	152	9	by	by	ADP
ejpam-803	152	10	their	their	PRON
ejpam-803	152	11	estimates	estimate	NOUN
ejpam-803	152	12	is	be	AUX
ejpam-803	152	13	:	:	PUNCT
ejpam-803	152	14	byt+h|t	byt+h|t	PROPN
ejpam-803	152	15	=	=	PUNCT
ejpam-803	153	1	bα′eft	bα′eft	NOUN
ejpam-803	154	1	+	+	CCONJ
ejpam-803	154	2	bβ	bβ	NOUN
ejpam-803	154	3	′wt	′wt	NOUN
ejpam-803	154	4	=	=	SYM
ejpam-803	154	5	bδ′bzt	bδ′bzt	PROPN
ejpam-803	154	6	,	,	PUNCT
ejpam-803	154	7	(	(	PUNCT
ejpam-803	154	8	10	10	NUM
ejpam-803	154	9	)	)	PUNCT
ejpam-803	154	10	where	where	SCONJ
ejpam-803	154	11	bzt	bzt	NOUN
ejpam-803	154	12	=	=	SYM
ejpam-803	154	13	(	(	PUNCT
ejpam-803	154	14	ef	ef	X
ejpam-803	154	15	′t	′t	NOUN
ejpam-803	154	16	,	,	PUNCT
ejpam-803	154	17	w	w	NOUN
ejpam-803	154	18	′t	′t	NOUN
ejpam-803	154	19	)	)	PUNCT
ejpam-803	154	20	′.	′.	NOUN
ejpam-803	154	21	here	here	ADV
ejpam-803	154	22	,	,	PUNCT
ejpam-803	154	23	bα	bα	PROPN
ejpam-803	154	24	and	and	CCONJ
ejpam-803	154	25	bβ	bβ	NOUN
ejpam-803	154	26	are	be	AUX
ejpam-803	154	27	the	the	DET
ejpam-803	154	28	least	least	ADJ
ejpam-803	154	29	squares	square	NOUN
ejpam-803	154	30	estimates	estimate	NOUN
ejpam-803	154	31	obtained	obtain	VERB
ejpam-803	154	32	from	from	ADP
ejpam-803	154	33	regressing	regress	VERB
ejpam-803	154	34	yt+h	yt+h	PROPN
ejpam-803	154	35	on	on	ADP
ejpam-803	154	36	eft	eft	PROPN
ejpam-803	154	37	and	and	CCONJ
ejpam-803	154	38	wt	wt	INTJ
ejpam-803	154	39	,	,	PUNCT
ejpam-803	154	40	t	t	NOUN
ejpam-803	154	41	=	=	SYM
ejpam-803	154	42	1	1	NUM
ejpam-803	154	43	,	,	PUNCT
ejpam-803	154	44	.	.	PUNCT
ejpam-803	154	45	.	.	PUNCT
ejpam-803	155	1	.	.	PUNCT
ejpam-803	156	1	,	,	PUNCT
ejpam-803	156	2	t	t	PROPN
ejpam-803	156	3	−	−	PROPN
ejpam-803	156	4	h.	h.	NOUN
ejpam-803	156	5	we	we	PRON
ejpam-803	156	6	suppress	suppress	VERB
ejpam-803	156	7	the	the	DET
ejpam-803	156	8	k	k	PROPN
ejpam-803	156	9	superscript	superscript	PROPN
ejpam-803	156	10	on	on	ADP
ejpam-803	156	11	ef	ef	PROPN
ejpam-803	156	12	k	k	PROPN
ejpam-803	156	13	t	t	PROPN
ejpam-803	156	14	because	because	SCONJ
ejpam-803	156	15	we	we	PRON
ejpam-803	156	16	assume	assume	VERB
ejpam-803	156	17	we	we	PRON
ejpam-803	156	18	have	have	AUX
ejpam-803	156	19	consistently	consistently	ADV
ejpam-803	156	20	estimated	estimate	VERB
ejpam-803	156	21	the	the	DET
ejpam-803	156	22	number	number	NOUN
ejpam-803	156	23	of	of	ADP
ejpam-803	156	24	factors	factor	NOUN
ejpam-803	156	25	underlying	underlie	VERB
ejpam-803	156	26	the	the	DET
ejpam-803	156	27	dataset	dataset	NOUN
ejpam-803	156	28	.	.	PUNCT
ejpam-803	157	1	the	the	DET
ejpam-803	157	2	factors	factor	NOUN
ejpam-803	157	3	,	,	PUNCT
ejpam-803	157	4	ft	ft	PRON
ejpam-803	157	5	,	,	PUNCT
ejpam-803	157	6	are	be	AUX
ejpam-803	157	7	estimated	estimate	VERB
ejpam-803	157	8	from	from	ADP
ejpam-803	157	9	x	x	PROPN
ejpam-803	157	10	i	i	PRON
ejpam-803	157	11	t	t	VERB
ejpam-803	157	12	by	by	ADP
ejpam-803	157	13	the	the	DET
ejpam-803	157	14	method	method	NOUN
ejpam-803	157	15	of	of	ADP
ejpam-803	157	16	principal	principal	ADJ
ejpam-803	157	17	components	component	NOUN
ejpam-803	157	18	,	,	PUNCT
ejpam-803	157	19	as	as	SCONJ
ejpam-803	157	20	discussed	discuss	VERB
ejpam-803	157	21	above	above	ADV
ejpam-803	157	22	.	.	PUNCT
ejpam-803	158	1	as	as	SCONJ
ejpam-803	158	2	the	the	DET
ejpam-803	158	3	objective	objective	NOUN
ejpam-803	158	4	is	be	AUX
ejpam-803	158	5	to	to	PART
ejpam-803	158	6	forecast	forecast	VERB
ejpam-803	158	7	yt+h	yt+h	PROPN
ejpam-803	158	8	,	,	PUNCT
ejpam-803	158	9	a	a	DET
ejpam-803	158	10	crucial	crucial	ADJ
ejpam-803	158	11	aspect	aspect	NOUN
ejpam-803	158	12	of	of	ADP
ejpam-803	158	13	our	our	PRON
ejpam-803	158	14	analysis	analysis	NOUN
ejpam-803	158	15	is	be	AUX
ejpam-803	158	16	the	the	DET
ejpam-803	158	17	distribution	distribution	NOUN
ejpam-803	158	18	of	of	ADP
ejpam-803	158	19	the	the	DET
ejpam-803	158	20	forecast	forecast	NOUN
ejpam-803	158	21	error	error	NOUN
ejpam-803	158	22	.	.	PUNCT
ejpam-803	159	1	as	as	SCONJ
ejpam-803	159	2	explained	explain	VERB
ejpam-803	159	3	in	in	ADP
ejpam-803	159	4	detail	detail	NOUN
ejpam-803	159	5	in	in	ADP
ejpam-803	159	6	[	[	X
ejpam-803	159	7	4	4	NUM
ejpam-803	159	8	]	]	PUNCT
ejpam-803	159	9	,	,	PUNCT
ejpam-803	159	10	since	since	SCONJ
ejpam-803	159	11	yt+h	yt+h	NOUN
ejpam-803	159	12	=	=	SYM
ejpam-803	160	1	yt+h|t	yt+h|t	PROPN
ejpam-803	160	2	+	+	CCONJ
ejpam-803	160	3	ǫt+h	ǫt+h	NUM
ejpam-803	160	4	,	,	PUNCT
ejpam-803	160	5	it	it	PRON
ejpam-803	160	6	follows	follow	VERB
ejpam-803	160	7	that	that	SCONJ
ejpam-803	160	8	the	the	DET
ejpam-803	160	9	forecast	forecast	NOUN
ejpam-803	160	10	error	error	NOUN
ejpam-803	160	11	is	be	AUX
ejpam-803	160	12	:	:	PUNCT
ejpam-803	160	13	bǫt+h	bǫt+h	NUM
ejpam-803	160	14	≡	≡	PROPN
ejpam-803	160	15	byt+h|t	byt+h|t	PROPN
ejpam-803	161	1	−	−	NOUN
ejpam-803	161	2	yt+h	yt+h	PUNCT
ejpam-803	162	1	=	=	PUNCT
ejpam-803	162	2	(	(	PUNCT
ejpam-803	162	3	byt+h|t	byt+h|t	PROPN
ejpam-803	162	4	−	−	PROPN
ejpam-803	162	5	yt+h|t	yt+h|t	PROPN
ejpam-803	162	6	)	)	PUNCT
ejpam-803	162	7	−	−	PROPN
ejpam-803	162	8	ǫt+h	ǫt+h	PROPN
ejpam-803	162	9	n.	n.	PROPN
ejpam-803	162	10	armah	armah	PROPN
ejpam-803	162	11	and	and	CCONJ
ejpam-803	162	12	n.	n.	PROPN
ejpam-803	162	13	swanson	swanson	PROPN
ejpam-803	162	14	/	/	SYM
ejpam-803	162	15	eur	eur	PROPN
ejpam-803	162	16	.	.	PUNCT
ejpam-803	163	1	j.	j.	PROPN
ejpam-803	163	2	pure	pure	PROPN
ejpam-803	163	3	appl	appl	PROPN
ejpam-803	163	4	.	.	PROPN
ejpam-803	163	5	math	math	PROPN
ejpam-803	163	6	,	,	PUNCT
ejpam-803	163	7	3	3	NUM
ejpam-803	163	8	(	(	PUNCT
ejpam-803	163	9	2010	2010	NUM
ejpam-803	163	10	)	)	PUNCT
ejpam-803	163	11	,	,	PUNCT
ejpam-803	163	12	478	478	NUM
ejpam-803	163	13	-	-	SYM
ejpam-803	163	14	501	501	NUM
ejpam-803	163	15	483	483	NUM
ejpam-803	163	16	if	if	SCONJ
ejpam-803	163	17	ǫt	ǫt	NUM
ejpam-803	163	18	∼	∼	VERB
ejpam-803	163	19	n(0,σ2	n(0,σ2	PROPN
ejpam-803	163	20	ǫ	ǫ	NOUN
ejpam-803	163	21	)	)	PUNCT
ejpam-803	163	22	,	,	PUNCT
ejpam-803	163	23	then	then	ADV
ejpam-803	163	24	:	:	PUNCT
ejpam-803	163	25	bǫt+h	bǫt+h	PUNCT
ejpam-803	163	26	∼	∼	NOUN
ejpam-803	163	27	n(0,σ2	n(0,σ2	NOUN
ejpam-803	163	28	ǫ	ǫ	NOUN
ejpam-803	163	29	+	+	X
ejpam-803	163	30	var(byt+h|t	var(byt+h|t	NOUN
ejpam-803	163	31	)	)	PUNCT
ejpam-803	163	32	)	)	PUNCT
ejpam-803	163	33	(	(	PUNCT
ejpam-803	163	34	11	11	NUM
ejpam-803	163	35	)	)	PUNCT
ejpam-803	163	36	where	where	SCONJ
ejpam-803	163	37	var(byt+h|t	var(byt+h|t	ADV
ejpam-803	163	38	)	)	PUNCT
ejpam-803	163	39	=	=	SYM
ejpam-803	164	1	1	1	NUM
ejpam-803	164	2	t	t	NOUN
ejpam-803	164	3	bz′t	bz′t	NOUN
ejpam-803	164	4	avar(bδ)bzt	avar(bδ)bzt	PROPN
ejpam-803	164	5	+	+	CCONJ
ejpam-803	164	6	1	1	NUM
ejpam-803	164	7	n	n	PRON
ejpam-803	164	8	bα′avar(eft	bα′avar(eft	VERB
ejpam-803	164	9	)	)	PUNCT
ejpam-803	164	10	bα	bα	PROPN
ejpam-803	164	11	.	.	PUNCT
ejpam-803	165	1	(	(	PUNCT
ejpam-803	165	2	12	12	NUM
ejpam-803	165	3	)	)	PUNCT
ejpam-803	165	4	here	here	ADV
ejpam-803	165	5	,	,	PUNCT
ejpam-803	165	6	var(byt+h|t	var(byt+h|t	ADV
ejpam-803	165	7	)	)	PUNCT
ejpam-803	165	8	reflects	reflect	VERB
ejpam-803	165	9	both	both	PRON
ejpam-803	165	10	parameter	parameter	NOUN
ejpam-803	165	11	uncertainty	uncertainty	NOUN
ejpam-803	165	12	and	and	CCONJ
ejpam-803	165	13	regressor	regressor	NOUN
ejpam-803	165	14	uncertainty	uncertainty	NOUN
ejpam-803	165	15	.	.	PUNCT
ejpam-803	166	1	in	in	ADP
ejpam-803	166	2	large	large	ADJ
ejpam-803	166	3	samples	sample	NOUN
ejpam-803	166	4	,	,	PUNCT
ejpam-803	166	5	var(bǫt+h	var(bǫt+h	NUM
ejpam-803	166	6	)	)	PUNCT
ejpam-803	166	7	is	be	AUX
ejpam-803	166	8	dominated	dominate	VERB
ejpam-803	166	9	by	by	ADP
ejpam-803	166	10	σ2	σ2	NOUN
ejpam-803	166	11	ǫ	ǫ	PROPN
ejpam-803	166	12	.	.	PUNCT
ejpam-803	167	1	if	if	SCONJ
ejpam-803	167	2	we	we	PRON
ejpam-803	167	3	ignore	ignore	VERB
ejpam-803	167	4	var(byt+h|t	var(byt+h|t	ADV
ejpam-803	167	5	)	)	PUNCT
ejpam-803	167	6	,	,	PUNCT
ejpam-803	167	7	σ2	σ2	NOUN
ejpam-803	167	8	ǫ	ǫ	PROPN
ejpam-803	167	9	alone	alone	ADV
ejpam-803	167	10	will	will	AUX
ejpam-803	167	11	underestimate	underestimate	VERB
ejpam-803	167	12	the	the	DET
ejpam-803	167	13	true	true	ADJ
ejpam-803	167	14	forecast	forecast	NOUN
ejpam-803	167	15	uncertainty	uncertainty	NOUN
ejpam-803	167	16	for	for	ADP
ejpam-803	167	17	finite	finite	ADJ
ejpam-803	167	18	t	t	PROPN
ejpam-803	167	19	and	and	CCONJ
ejpam-803	167	20	n	n	PROPN
ejpam-803	167	21	.	.	PUNCT
ejpam-803	168	1	let	let	VERB
ejpam-803	168	2	us	we	PRON
ejpam-803	168	3	now	now	ADV
ejpam-803	168	4	assume	assume	VERB
ejpam-803	168	5	for	for	ADP
ejpam-803	168	6	a	a	DET
ejpam-803	168	7	moment	moment	NOUN
ejpam-803	168	8	that	that	SCONJ
ejpam-803	168	9	ft	ft	NOUN
ejpam-803	168	10	is	be	AUX
ejpam-803	168	11	observable	observable	ADJ
ejpam-803	168	12	.	.	PUNCT
ejpam-803	169	1	the	the	DET
ejpam-803	169	2	feasible	feasible	ADJ
ejpam-803	169	3	prediction	prediction	NOUN
ejpam-803	169	4	of	of	ADP
ejpam-803	169	5	yt+h	yt+h	NUM
ejpam-803	169	6	would	would	AUX
ejpam-803	169	7	then	then	ADV
ejpam-803	169	8	be	be	AUX
ejpam-803	169	9	y	y	PROPN
ejpam-803	169	10	t+h|t	t+h|t	PROPN
ejpam-803	169	11	=	=	SYM
ejpam-803	169	12	α	α	NUM
ejpam-803	169	13	′ft+β	′ft+β	NOUN
ejpam-803	170	1	′	′	NUM
ejpam-803	170	2	wt	wt	PROPN
ejpam-803	170	3	=	=	SYM
ejpam-803	170	4	δ	δ	PROPN
ejpam-803	170	5	′	′	NUM
ejpam-803	171	1	zt	zt	INTJ
ejpam-803	171	2	,	,	PUNCT
ejpam-803	171	3	where	where	SCONJ
ejpam-803	171	4	α	α	NOUN
ejpam-803	171	5	and	and	CCONJ
ejpam-803	171	6	β	β	X
ejpam-803	171	7	are	be	AUX
ejpam-803	171	8	the	the	DET
ejpam-803	171	9	least	least	ADJ
ejpam-803	171	10	squares	square	NOUN
ejpam-803	171	11	estimates	estimate	NOUN
ejpam-803	171	12	obtained	obtain	VERB
ejpam-803	171	13	from	from	ADP
ejpam-803	171	14	regressing	regress	VERB
ejpam-803	171	15	yt+h	yt+h	PROPN
ejpam-803	171	16	on	on	ADP
ejpam-803	171	17	ft	ft	NOUN
ejpam-803	171	18	and	and	CCONJ
ejpam-803	171	19	wt	wt	INTJ
ejpam-803	171	20	.	.	PUNCT
ejpam-803	172	1	once	once	ADV
ejpam-803	172	2	again	again	ADV
ejpam-803	172	3	,	,	PUNCT
ejpam-803	172	4	since	since	SCONJ
ejpam-803	172	5	yt+h	yt+h	X
ejpam-803	172	6	=	=	SYM
ejpam-803	172	7	yt+h|t	yt+h|t	PROPN
ejpam-803	172	8	+	+	CCONJ
ejpam-803	172	9	ǫt+h	ǫt+h	NUM
ejpam-803	172	10	,	,	PUNCT
ejpam-803	172	11	the	the	DET
ejpam-803	172	12	forecast	forecast	NOUN
ejpam-803	172	13	error	error	NOUN
ejpam-803	172	14	is	be	AUX
ejpam-803	172	15	:	:	PUNCT
ejpam-803	172	16	ǫt+h	ǫt+h	PROPN
ejpam-803	172	17	=	=	PUNCT
ejpam-803	172	18	y	y	PROPN
ejpam-803	172	19	t+h|t	t+h|t	PROPN
ejpam-803	172	20	−	−	NOUN
ejpam-803	172	21	yt+h	yt+h	NOUN
ejpam-803	173	1	=	=	SYM
ejpam-803	174	1	(	(	PUNCT
ejpam-803	174	2	yt+h|t	yt+h|t	ADJ
ejpam-803	174	3	−	−	PROPN
ejpam-803	174	4	yt+h|t	yt+h|t	PROPN
ejpam-803	174	5	)	)	PUNCT
ejpam-803	174	6	−	−	PROPN
ejpam-803	174	7	ǫt+h	ǫt+h	X
ejpam-803	174	8	if	if	SCONJ
ejpam-803	174	9	ǫt	ǫt	PRON
ejpam-803	174	10	∼	∼	VERB
ejpam-803	174	11	n(0,σ2	n(0,σ2	PROPN
ejpam-803	174	12	ǫ	ǫ	NOUN
ejpam-803	174	13	)	)	PUNCT
ejpam-803	174	14	,	,	PUNCT
ejpam-803	174	15	then	then	ADV
ejpam-803	174	16	ǫt+h	ǫt+h	NUM
ejpam-803	174	17	∼	∼	NOUN
ejpam-803	174	18	n(0,σ2	n(0,σ2	NOUN
ejpam-803	174	19	ǫ	ǫ	NOUN
ejpam-803	174	20	+	+	X
ejpam-803	174	21	var(yt+h|t	var(yt+h|t	ADJ
ejpam-803	174	22	)	)	PUNCT
ejpam-803	174	23	)	)	PUNCT
ejpam-803	174	24	,	,	PUNCT
ejpam-803	174	25	(	(	PUNCT
ejpam-803	174	26	13	13	NUM
ejpam-803	174	27	)	)	PUNCT
ejpam-803	174	28	where	where	SCONJ
ejpam-803	174	29	var(yt+h|t	var(yt+h|t	ADV
ejpam-803	174	30	)	)	PUNCT
ejpam-803	174	31	=	=	SYM
ejpam-803	174	32	1	1	NUM
ejpam-803	174	33	t	t	NOUN
ejpam-803	174	34	z′t	z′t	NOUN
ejpam-803	174	35	avar(δ)zt	avar(δ)zt	NUM
ejpam-803	174	36	.	.	PUNCT
ejpam-803	175	1	(	(	PUNCT
ejpam-803	175	2	14	14	NUM
ejpam-803	175	3	)	)	PUNCT
ejpam-803	175	4	thus	thus	ADV
ejpam-803	175	5	,	,	PUNCT
ejpam-803	175	6	and	and	CCONJ
ejpam-803	175	7	as	as	SCONJ
ejpam-803	175	8	discussed	discuss	VERB
ejpam-803	175	9	by	by	ADP
ejpam-803	175	10	[	[	X
ejpam-803	175	11	4	4	NUM
ejpam-803	175	12	]	]	PUNCT
ejpam-803	175	13	,	,	PUNCT
ejpam-803	175	14	when	when	SCONJ
ejpam-803	175	15	comparing	compare	VERB
ejpam-803	175	16	var(yt+h|t	var(yt+h|t	ADV
ejpam-803	175	17	)	)	PUNCT
ejpam-803	175	18	with	with	ADP
ejpam-803	175	19	var(byt+h|t	var(byt+h|t	NOUN
ejpam-803	175	20	)	)	PUNCT
ejpam-803	175	21	,	,	PUNCT
ejpam-803	175	22	it	it	PRON
ejpam-803	175	23	is	be	AUX
ejpam-803	175	24	clear	clear	ADJ
ejpam-803	175	25	that	that	SCONJ
ejpam-803	175	26	estimating	estimate	VERB
ejpam-803	175	27	the	the	DET
ejpam-803	175	28	factors	factor	NOUN
ejpam-803	175	29	increases	increase	VERB
ejpam-803	175	30	the	the	DET
ejpam-803	175	31	forecast	forecast	NOUN
ejpam-803	175	32	error	error	NOUN
ejpam-803	175	33	variance	variance	NOUN
ejpam-803	175	34	,	,	PUNCT
ejpam-803	175	35	var(byt+h|t	var(byt+h|t	ADV
ejpam-803	175	36	)	)	PUNCT
ejpam-803	175	37	,	,	PUNCT
ejpam-803	175	38	by	by	SCONJ
ejpam-803	175	39	1	1	NUM
ejpam-803	175	40	n	n	PRON
ejpam-803	175	41	bα′avar(eft	bα′avar(eft	VERB
ejpam-803	175	42	)	)	PUNCT
ejpam-803	175	43	bα	bα	PROPN
ejpam-803	175	44	.	.	PUNCT
ejpam-803	176	1	of	of	ADP
ejpam-803	176	2	course	course	ADV
ejpam-803	176	3	,	,	PUNCT
ejpam-803	176	4	if	if	SCONJ
ejpam-803	176	5	we	we	PRON
ejpam-803	176	6	could	could	AUX
ejpam-803	176	7	observe	observe	VERB
ejpam-803	176	8	the	the	DET
ejpam-803	176	9	factors	factor	NOUN
ejpam-803	176	10	instead	instead	ADV
ejpam-803	176	11	of	of	ADP
ejpam-803	176	12	estimating	estimate	VERB
ejpam-803	176	13	them	they	PRON
ejpam-803	176	14	,	,	PUNCT
ejpam-803	176	15	we	we	PRON
ejpam-803	176	16	would	would	AUX
ejpam-803	176	17	reduce	reduce	VERB
ejpam-803	176	18	the	the	DET
ejpam-803	176	19	forecast	forecast	NOUN
ejpam-803	176	20	error	error	NOUN
ejpam-803	176	21	variance	variance	NOUN
ejpam-803	176	22	from	from	ADP
ejpam-803	176	23	(	(	PUNCT
ejpam-803	176	24	11	11	NUM
ejpam-803	176	25	)	)	PUNCT
ejpam-803	176	26	to	to	ADP
ejpam-803	176	27	(	(	PUNCT
ejpam-803	176	28	13	13	NUM
ejpam-803	176	29	)	)	PUNCT
ejpam-803	176	30	.	.	PUNCT
ejpam-803	177	1	in	in	ADP
ejpam-803	177	2	finite	finite	ADJ
ejpam-803	177	3	samples	sample	NOUN
ejpam-803	177	4	,	,	PUNCT
ejpam-803	177	5	this	this	PRON
ejpam-803	177	6	may	may	AUX
ejpam-803	177	7	yield	yield	VERB
ejpam-803	177	8	important	important	ADJ
ejpam-803	177	9	prediction	prediction	NOUN
ejpam-803	177	10	error	error	NOUN
ejpam-803	177	11	variance	variance	NOUN
ejpam-803	177	12	reduction	reduction	NOUN
ejpam-803	177	13	.	.	PUNCT
ejpam-803	178	1	it	it	PRON
ejpam-803	178	2	is	be	AUX
ejpam-803	178	3	for	for	ADP
ejpam-803	178	4	this	this	DET
ejpam-803	178	5	reason	reason	NOUN
ejpam-803	178	6	that	that	PRON
ejpam-803	178	7	we	we	PRON
ejpam-803	178	8	consider	consider	VERB
ejpam-803	178	9	replacing	replace	VERB
ejpam-803	178	10	the	the	DET
ejpam-803	178	11	factors	factor	NOUN
ejpam-803	178	12	in	in	ADP
ejpam-803	178	13	(	(	PUNCT
ejpam-803	178	14	10	10	NUM
ejpam-803	178	15	)	)	PUNCT
ejpam-803	178	16	with	with	ADP
ejpam-803	178	17	observable	observable	ADJ
ejpam-803	178	18	variables	variable	NOUN
ejpam-803	178	19	that	that	SCONJ
ejpam-803	178	20	closely	closely	ADV
ejpam-803	178	21	proxy	proxy	VERB
ejpam-803	178	22	the	the	DET
ejpam-803	178	23	factors	factor	NOUN
ejpam-803	178	24	.	.	PUNCT
ejpam-803	179	1	the	the	DET
ejpam-803	179	2	approach	approach	NOUN
ejpam-803	179	3	taken	take	VERB
ejpam-803	179	4	in	in	ADP
ejpam-803	179	5	order	order	NOUN
ejpam-803	179	6	to	to	PART
ejpam-803	179	7	do	do	AUX
ejpam-803	179	8	this	this	DET
ejpam-803	179	9	involves	involve	VERB
ejpam-803	179	10	implementing	implement	VERB
ejpam-803	179	11	a	a	DET
ejpam-803	179	12	“	"	PUNCT
ejpam-803	179	13	first	first	ADJ
ejpam-803	179	14	stage	stage	NOUN
ejpam-803	179	15	”	"	PUNCT
ejpam-803	179	16	factor	factor	NOUN
ejpam-803	179	17	analysis	analysis	NOUN
ejpam-803	179	18	in	in	ADP
ejpam-803	179	19	which	which	PRON
ejpam-803	179	20	proxies	proxy	NOUN
ejpam-803	179	21	are	be	AUX
ejpam-803	179	22	formed	form	VERB
ejpam-803	179	23	using	use	VERB
ejpam-803	179	24	the	the	DET
ejpam-803	179	25	a	a	PROPN
ejpam-803	179	26	(	(	PUNCT
ejpam-803	179	27	j	j	NOUN
ejpam-803	179	28	)	)	PUNCT
ejpam-803	179	29	and	and	CCONJ
ejpam-803	179	30	m	m	PROPN
ejpam-803	179	31	(	(	PUNCT
ejpam-803	179	32	j	j	PROPN
ejpam-803	179	33	)	)	PUNCT
ejpam-803	179	34	statistics	statistic	NOUN
ejpam-803	179	35	of	of	ADP
ejpam-803	179	36	[	[	X
ejpam-803	179	37	5	5	NUM
ejpam-803	179	38	]	]	PUNCT
ejpam-803	179	39	.	.	PUNCT
ejpam-803	180	1	in	in	ADP
ejpam-803	180	2	a	a	DET
ejpam-803	180	3	“	"	PUNCT
ejpam-803	180	4	second	second	ADJ
ejpam-803	180	5	stage	stage	NOUN
ejpam-803	180	6	,	,	PUNCT
ejpam-803	180	7	”	"	PUNCT
ejpam-803	180	8	the	the	DET
ejpam-803	180	9	observable	observable	ADJ
ejpam-803	180	10	proxies	proxy	NOUN
ejpam-803	180	11	are	be	AUX
ejpam-803	180	12	used	use	VERB
ejpam-803	180	13	in	in	ADP
ejpam-803	180	14	the	the	DET
ejpam-803	180	15	construction	construction	NOUN
ejpam-803	180	16	of	of	ADP
ejpam-803	180	17	a	a	DET
ejpam-803	180	18	prediction	prediction	NOUN
ejpam-803	180	19	model	model	NOUN
ejpam-803	180	20	.	.	PUNCT
ejpam-803	181	1	in	in	ADP
ejpam-803	181	2	this	this	DET
ejpam-803	181	3	way	way	NOUN
ejpam-803	181	4	,	,	PUNCT
ejpam-803	181	5	all	all	DET
ejpam-803	181	6	estimation	estimation	NOUN
ejpam-803	181	7	error	error	NOUN
ejpam-803	181	8	associated	associate	VERB
ejpam-803	181	9	with	with	ADP
ejpam-803	181	10	the	the	DET
ejpam-803	181	11	factor	factor	NOUN
ejpam-803	181	12	analysis	analysis	NOUN
ejpam-803	181	13	and	and	CCONJ
ejpam-803	181	14	proxy	proxy	NOUN
ejpam-803	181	15	selection	selection	NOUN
ejpam-803	181	16	is	be	AUX
ejpam-803	181	17	essentially	essentially	ADV
ejpam-803	181	18	“	"	PUNCT
ejpam-803	181	19	hidden	hide	VERB
ejpam-803	181	20	”	"	PUNCT
ejpam-803	181	21	in	in	ADP
ejpam-803	181	22	the	the	DET
ejpam-803	181	23	first	first	ADJ
ejpam-803	181	24	stage	stage	NOUN
ejpam-803	181	25	,	,	PUNCT
ejpam-803	181	26	and	and	CCONJ
ejpam-803	181	27	does	do	AUX
ejpam-803	181	28	not	not	PART
ejpam-803	181	29	directly	directly	ADV
ejpam-803	181	30	manifest	manifest	VERB
ejpam-803	181	31	itself	itself	PRON
ejpam-803	181	32	in	in	ADP
ejpam-803	181	33	the	the	DET
ejpam-803	181	34	“	"	PUNCT
ejpam-803	181	35	second	second	ADJ
ejpam-803	181	36	stage	stage	NOUN
ejpam-803	181	37	”	"	PUNCT
ejpam-803	181	38	prediction	prediction	NOUN
ejpam-803	181	39	models	model	NOUN
ejpam-803	181	40	and	and	CCONJ
ejpam-803	181	41	prediction	prediction	NOUN
ejpam-803	181	42	errors	error	NOUN
ejpam-803	181	43	.	.	PUNCT
ejpam-803	182	1	put	put	VERB
ejpam-803	182	2	another	another	DET
ejpam-803	182	3	way	way	NOUN
ejpam-803	182	4	,	,	PUNCT
ejpam-803	182	5	we	we	PRON
ejpam-803	182	6	are	be	AUX
ejpam-803	182	7	trading	trade	VERB
ejpam-803	182	8	-	-	PUNCT
ejpam-803	182	9	off	off	ADP
ejpam-803	182	10	“	"	PUNCT
ejpam-803	182	11	estimated	estimate	VERB
ejpam-803	182	12	factor	factor	NOUN
ejpam-803	182	13	uncertainty	uncertainty	NOUN
ejpam-803	182	14	”	"	PUNCT
ejpam-803	182	15	for	for	ADP
ejpam-803	182	16	“	"	PUNCT
ejpam-803	182	17	variable	variable	ADJ
ejpam-803	182	18	selection	selection	NOUN
ejpam-803	182	19	uncertainty	uncertainty	NOUN
ejpam-803	182	20	”	"	PUNCT
ejpam-803	182	21	(	(	PUNCT
ejpam-803	182	22	see	see	VERB
ejpam-803	182	23	introduction	introduction	NOUN
ejpam-803	182	24	for	for	ADP
ejpam-803	182	25	further	further	ADJ
ejpam-803	182	26	discussion	discussion	NOUN
ejpam-803	182	27	)	)	PUNCT
ejpam-803	182	28	.	.	PUNCT
ejpam-803	183	1	of	of	ADP
ejpam-803	183	2	course	course	NOUN
ejpam-803	183	3	,	,	PUNCT
ejpam-803	183	4	issues	issue	NOUN
ejpam-803	183	5	related	relate	VERB
ejpam-803	183	6	to	to	ADP
ejpam-803	183	7	“	"	PUNCT
ejpam-803	183	8	pre	pre	ADJ
ejpam-803	183	9	-	-	ADJ
ejpam-803	183	10	testing	testing	ADJ
ejpam-803	183	11	”	"	PUNCT
ejpam-803	183	12	and	and	CCONJ
ejpam-803	183	13	sequential	sequential	ADJ
ejpam-803	183	14	testing	testing	NOUN
ejpam-803	183	15	bias	bias	NOUN
ejpam-803	183	16	still	still	ADV
ejpam-803	183	17	arise	arise	VERB
ejpam-803	183	18	.	.	PUNCT
ejpam-803	184	1	nevertheless	nevertheless	ADV
ejpam-803	184	2	,	,	PUNCT
ejpam-803	184	3	in	in	ADP
ejpam-803	184	4	our	our	PRON
ejpam-803	184	5	prediction	prediction	NOUN
ejpam-803	184	6	experiments	experiment	NOUN
ejpam-803	184	7	we	we	PRON
ejpam-803	184	8	attempt	attempt	VERB
ejpam-803	184	9	to	to	PART
ejpam-803	184	10	quantify	quantify	VERB
ejpam-803	184	11	through	through	ADP
ejpam-803	184	12	finite	finite	ADJ
ejpam-803	184	13	sample	sample	NOUN
ejpam-803	184	14	experiments	experiment	NOUN
ejpam-803	184	15	the	the	DET
ejpam-803	184	16	potential	potential	ADJ
ejpam-803	184	17	gains	gain	NOUN
ejpam-803	184	18	to	to	ADP
ejpam-803	184	19	using	use	VERB
ejpam-803	184	20	the	the	DET
ejpam-803	184	21	“	"	PUNCT
ejpam-803	184	22	proxy	proxy	ADJ
ejpam-803	184	23	”	"	PUNCT
ejpam-803	184	24	approach	approach	NOUN
ejpam-803	184	25	.	.	PUNCT
ejpam-803	185	1	now	now	ADV
ejpam-803	185	2	,	,	PUNCT
ejpam-803	185	3	suppose	suppose	VERB
ejpam-803	185	4	we	we	PRON
ejpam-803	185	5	observe	observe	VERB
ejpam-803	185	6	g′	g′	NOUN
ejpam-803	185	7	,	,	PUNCT
ejpam-803	185	8	a	a	DET
ejpam-803	185	9	(	(	PUNCT
ejpam-803	185	10	t×m)matrix	t×m)matrix	NOUN
ejpam-803	185	11	of	of	ADP
ejpam-803	185	12	observable	observable	ADJ
ejpam-803	185	13	economic	economic	ADJ
ejpam-803	185	14	variables	variable	NOUN
ejpam-803	185	15	that	that	PRON
ejpam-803	185	16	could	could	AUX
ejpam-803	185	17	potentially	potentially	ADV
ejpam-803	185	18	proxy	proxy	VERB
ejpam-803	185	19	the	the	DET
ejpam-803	185	20	latent	latent	NOUN
ejpam-803	185	21	factors	factor	NOUN
ejpam-803	185	22	(	(	PUNCT
ejpam-803	185	23	i.e.	i.e.	X
ejpam-803	185	24	,	,	PUNCT
ejpam-803	185	25	g	g	PROPN
ejpam-803	185	26	is	be	AUX
ejpam-803	185	27	an	an	DET
ejpam-803	185	28	m×	m×	PROPN
ejpam-803	185	29	t	t	PROPN
ejpam-803	185	30	matrix	matrix	NOUN
ejpam-803	185	31	)	)	PUNCT
ejpam-803	185	32	.	.	PUNCT
ejpam-803	186	1	at	at	ADP
ejpam-803	186	2	any	any	DET
ejpam-803	186	3	given	give	VERB
ejpam-803	186	4	time	time	NOUN
ejpam-803	186	5	t	t	PROPN
ejpam-803	186	6	,	,	PUNCT
ejpam-803	186	7	any	any	PRON
ejpam-803	186	8	of	of	ADP
ejpam-803	186	9	the	the	DET
ejpam-803	186	10	m	m	NOUN
ejpam-803	186	11	elements	element	NOUN
ejpam-803	186	12	of	of	ADP
ejpam-803	186	13	gt	gt	PROPN
ejpam-803	186	14	(	(	PUNCT
ejpam-803	186	15	m×	m×	PROPN
ejpam-803	186	16	1	1	NUM
ejpam-803	186	17	)	)	PUNCT
ejpam-803	186	18	will	will	AUX
ejpam-803	186	19	be	be	AUX
ejpam-803	186	20	a	a	DET
ejpam-803	186	21	good	good	ADJ
ejpam-803	186	22	proxy	proxy	NOUN
ejpam-803	186	23	if	if	SCONJ
ejpam-803	186	24	it	it	PRON
ejpam-803	186	25	is	be	AUX
ejpam-803	186	26	a	a	DET
ejpam-803	186	27	linear	linear	ADJ
ejpam-803	186	28	combination	combination	NOUN
ejpam-803	186	29	of	of	ADP
ejpam-803	186	30	the	the	DET
ejpam-803	186	31	r	r	NOUN
ejpam-803	186	32	×	×	NOUN
ejpam-803	186	33	1	1	NUM
ejpam-803	186	34	latent	latent	NOUN
ejpam-803	186	35	factors	factor	NOUN
ejpam-803	186	36	,	,	PUNCT
ejpam-803	186	37	ft	ft	X
ejpam-803	186	38	.	.	PUNCT
ejpam-803	187	1	let	let	VERB
ejpam-803	187	2	g	g	PROPN
ejpam-803	187	3	j	j	PROPN
ejpam-803	187	4	t	t	PROPN
ejpam-803	187	5	be	be	AUX
ejpam-803	187	6	an	an	DET
ejpam-803	187	7	element	element	NOUN
ejpam-803	187	8	of	of	ADP
ejpam-803	187	9	the	the	DET
ejpam-803	187	10	m	m	PROPN
ejpam-803	187	11	vector	vector	NOUN
ejpam-803	187	12	gt	gt	PROPN
ejpam-803	187	13	.	.	PUNCT
ejpam-803	188	1	the	the	DET
ejpam-803	188	2	null	null	ADJ
ejpam-803	188	3	hypothesis	hypothesis	NOUN
ejpam-803	188	4	is	be	AUX
ejpam-803	188	5	that	that	SCONJ
ejpam-803	188	6	g	g	PROPN
ejpam-803	188	7	j	j	PROPN
ejpam-803	188	8	t	t	PROPN
ejpam-803	188	9	is	be	AUX
ejpam-803	188	10	an	an	DET
ejpam-803	188	11	exact	exact	ADJ
ejpam-803	188	12	proxy	proxy	NOUN
ejpam-803	188	13	,	,	PUNCT
ejpam-803	188	14	or	or	CCONJ
ejpam-803	188	15	more	more	ADV
ejpam-803	188	16	precisely	precisely	ADV
ejpam-803	188	17	,	,	PUNCT
ejpam-803	188	18	∃	∃	PROPN
ejpam-803	188	19	θ	θ	PROPN
ejpam-803	188	20	j	j	PROPN
ejpam-803	188	21	(	(	PUNCT
ejpam-803	188	22	r	r	NOUN
ejpam-803	188	23	×	×	NOUN
ejpam-803	188	24	1	1	NUM
ejpam-803	188	25	)	)	PUNCT
ejpam-803	188	26	such	such	ADJ
ejpam-803	188	27	that	that	SCONJ
ejpam-803	188	28	g	g	PROPN
ejpam-803	188	29	j	j	PROPN
ejpam-803	188	30	t	t	PROPN
ejpam-803	188	31	=	=	SYM
ejpam-803	188	32	θ	θ	NOUN
ejpam-803	188	33	′	′	NUM
ejpam-803	189	1	j	j	PROPN
ejpam-803	189	2	ft	ft	INTJ
ejpam-803	189	3	.	.	PUNCT
ejpam-803	190	1	in	in	ADP
ejpam-803	190	2	order	order	NOUN
ejpam-803	190	3	to	to	PART
ejpam-803	190	4	implement	implement	VERB
ejpam-803	190	5	all	all	PRON
ejpam-803	190	6	of	of	ADP
ejpam-803	190	7	the	the	DET
ejpam-803	190	8	methods	method	NOUN
ejpam-803	190	9	,	,	PUNCT
ejpam-803	190	10	consider	consider	VERB
ejpam-803	190	11	the	the	DET
ejpam-803	190	12	regression	regression	NOUN
ejpam-803	190	13	g	g	PROPN
ejpam-803	190	14	j	j	PROPN
ejpam-803	190	15	t	t	PROPN
ejpam-803	190	16	=	=	SYM
ejpam-803	190	17	γ	γ	X
ejpam-803	190	18	′	′	PROPN
ejpam-803	190	19	j	j	PROPN
ejpam-803	190	20	eft	eft	PROPN
ejpam-803	191	1	+	+	PROPN
ejpam-803	191	2	ρt	ρt	PROPN
ejpam-803	191	3	.	.	PUNCT
ejpam-803	192	1	let	let	VERB
ejpam-803	192	2	bγ	bγ	INTJ
ejpam-803	192	3	j	j	PROPN
ejpam-803	192	4	be	be	AUX
ejpam-803	192	5	the	the	DET
ejpam-803	192	6	least	least	ADJ
ejpam-803	192	7	squares	square	NOUN
ejpam-803	192	8	estimate	estimate	VERB
ejpam-803	192	9	n.	n.	PROPN
ejpam-803	192	10	armah	armah	PROPN
ejpam-803	192	11	and	and	CCONJ
ejpam-803	192	12	n.	n.	PROPN
ejpam-803	192	13	swanson	swanson	PROPN
ejpam-803	192	14	/	/	SYM
ejpam-803	192	15	eur	eur	PROPN
ejpam-803	192	16	.	.	PUNCT
ejpam-803	193	1	j.	j.	PROPN
ejpam-803	193	2	pure	pure	PROPN
ejpam-803	193	3	appl	appl	PROPN
ejpam-803	193	4	.	.	PROPN
ejpam-803	193	5	math	math	PROPN
ejpam-803	193	6	,	,	PUNCT
ejpam-803	193	7	3	3	NUM
ejpam-803	193	8	(	(	PUNCT
ejpam-803	193	9	2010	2010	NUM
ejpam-803	193	10	)	)	PUNCT
ejpam-803	193	11	,	,	PUNCT
ejpam-803	193	12	478	478	NUM
ejpam-803	193	13	-	-	SYM
ejpam-803	193	14	501	501	NUM
ejpam-803	193	15	484	484	NUM
ejpam-803	193	16	of	of	ADP
ejpam-803	193	17	γ	γ	PROPN
ejpam-803	193	18	j	j	PROPN
ejpam-803	193	19	and	and	CCONJ
ejpam-803	193	20	let	let	VERB
ejpam-803	193	21	bg	bg	PROPN
ejpam-803	193	22	j	j	PROPN
ejpam-803	193	23	t	t	PROPN
ejpam-803	193	24	=	=	SYM
ejpam-803	193	25	bγ′j	bγ′j	PROPN
ejpam-803	193	26	eft	eft	PROPN
ejpam-803	193	27	.	.	PUNCT
ejpam-803	194	1	the	the	DET
ejpam-803	194	2	test	test	NOUN
ejpam-803	194	3	is	be	AUX
ejpam-803	194	4	carried	carry	VERB
ejpam-803	194	5	out	out	ADP
ejpam-803	194	6	by	by	ADP
ejpam-803	194	7	constructing	construct	VERB
ejpam-803	194	8	the	the	DET
ejpam-803	194	9	following	follow	VERB
ejpam-803	194	10	t	t	PROPN
ejpam-803	194	11	-	-	PUNCT
ejpam-803	194	12	statistic	statistic	NOUN
ejpam-803	194	13	:	:	PUNCT
ejpam-803	194	14	τt	τt	PROPN
ejpam-803	194	15	(	(	PUNCT
ejpam-803	194	16	j	j	NOUN
ejpam-803	194	17	)	)	PUNCT
ejpam-803	194	18	=	=	SYM
ejpam-803	195	1	(	(	PUNCT
ejpam-803	195	2	bg	bg	PROPN
ejpam-803	195	3	j	j	PROPN
ejpam-803	195	4	t	t	PROPN
ejpam-803	195	5	−	−	PROPN
ejpam-803	195	6	g	g	PROPN
ejpam-803	195	7	j	j	PROPN
ejpam-803	195	8	t	t	PROPN
ejpam-803	195	9	)	)	PUNCT
ejpam-803	195	10	(	(	PUNCT
ejpam-803	195	11	dvar(bg	dvar(bg	PROPN
ejpam-803	195	12	j	j	PROPN
ejpam-803	195	13	t	t	PROPN
ejpam-803	195	14	)	)	PUNCT
ejpam-803	195	15	)	)	PUNCT
ejpam-803	196	1	1/2	1/2	NUM
ejpam-803	196	2	(	(	PUNCT
ejpam-803	196	3	15	15	NUM
ejpam-803	196	4	)	)	PUNCT
ejpam-803	196	5	where	where	SCONJ
ejpam-803	196	6	dvar(bg	dvar(bg	PROPN
ejpam-803	196	7	j	j	PROPN
ejpam-803	196	8	t	t	PROPN
ejpam-803	196	9	)	)	PUNCT
ejpam-803	196	10	=	=	SYM
ejpam-803	197	1	1	1	NUM
ejpam-803	197	2	n	n	DET
ejpam-803	197	3	bγ′j	bγ′j	NOUN
ejpam-803	197	4	ed−1	ed−1	PROPN
ejpam-803	197	5	�	�	PROPN
ejpam-803	197	6	ef	ef	PROPN
ejpam-803	197	7	′ef	′ef	PROPN
ejpam-803	197	8	t	t	PROPN
ejpam-803	197	9	�	�	PROPN
ejpam-803	197	10	eγt	eγt	PROPN
ejpam-803	197	11	�	�	PROPN
ejpam-803	197	12	ef	ef	PROPN
ejpam-803	197	13	′	′	NUM
ejpam-803	197	14	ef	ef	PROPN
ejpam-803	197	15	t	t	PROPN
ejpam-803	197	16	�	�	PROPN
ejpam-803	197	17	ed−1bγ	ed−1bγ	NUM
ejpam-803	197	18	j	j	PROPN
ejpam-803	197	19	=	=	SYM
ejpam-803	197	20	1	1	NUM
ejpam-803	197	21	n	n	PRON
ejpam-803	197	22	bγ′j	bγ′j	NOUN
ejpam-803	197	23	ed−1eγt	ed−1eγt	PROPN
ejpam-803	197	24	ed−1bγ	ed−1bγ	NUM
ejpam-803	197	25	j	j	PROPN
ejpam-803	197	26	,	,	PUNCT
ejpam-803	197	27	(	(	PUNCT
ejpam-803	197	28	16	16	NUM
ejpam-803	197	29	)	)	PUNCT
ejpam-803	197	30	and	and	CCONJ
ejpam-803	197	31	eγt	eγt	NOUN
ejpam-803	197	32	is	be	AUX
ejpam-803	197	33	defined	define	VERB
ejpam-803	197	34	below	below	ADV
ejpam-803	197	35	.	.	PUNCT
ejpam-803	198	1	the	the	DET
ejpam-803	198	2	last	last	ADJ
ejpam-803	198	3	step	step	NOUN
ejpam-803	198	4	above	above	ADV
ejpam-803	198	5	is	be	AUX
ejpam-803	198	6	due	due	ADJ
ejpam-803	198	7	to	to	ADP
ejpam-803	198	8	the	the	DET
ejpam-803	198	9	normalization	normalization	NOUN
ejpam-803	198	10	that	that	PRON
ejpam-803	198	11	ef	ef	VERB
ejpam-803	198	12	′ef	′ef	PROPN
ejpam-803	198	13	/	/	SYM
ejpam-803	198	14	t	t	NOUN
ejpam-803	198	15	=	=	PUNCT
ejpam-803	198	16	ibk	ibk	NOUN
ejpam-803	198	17	.	.	PUNCT
ejpam-803	199	1	once	once	ADV
ejpam-803	199	2	again	again	ADV
ejpam-803	199	3	,	,	PUNCT
ejpam-803	199	4	ed	ed	PROPN
ejpam-803	199	5	is	be	AUX
ejpam-803	199	6	a	a	DET
ejpam-803	199	7	k×	k×	PROPN
ejpam-803	199	8	k	k	PROPN
ejpam-803	199	9	diagonal	diagonal	ADJ
ejpam-803	199	10	matrix	matrix	NOUN
ejpam-803	199	11	consisting	consist	VERB
ejpam-803	199	12	of	of	ADP
ejpam-803	199	13	the	the	DET
ejpam-803	199	14	k	k	ADV
ejpam-803	199	15	largest	large	ADJ
ejpam-803	199	16	eigenvalues	eigenvalue	NOUN
ejpam-803	199	17	of	of	ADP
ejpam-803	199	18	x	x	NOUN
ejpam-803	199	19	x	x	NOUN
ejpam-803	199	20	′.	′.	NOUN
ejpam-803	199	21	given	give	VERB
ejpam-803	199	22	the	the	DET
ejpam-803	199	23	null	null	ADJ
ejpam-803	199	24	hypothesis	hypothesis	NOUN
ejpam-803	199	25	that	that	PRON
ejpam-803	200	1	g	g	PROPN
ejpam-803	200	2	j	j	PROPN
ejpam-803	200	3	t	t	PROPN
ejpam-803	200	4	=	=	SYM
ejpam-803	200	5	θ	θ	NOUN
ejpam-803	200	6	′	′	NUM
ejpam-803	201	1	j	j	PROPN
ejpam-803	201	2	ft	ft	NOUN
ejpam-803	202	1	and	and	CCONJ
ejpam-803	202	2	that	that	SCONJ
ejpam-803	202	3	bg	bg	PROPN
ejpam-803	202	4	j	j	PROPN
ejpam-803	202	5	t	t	PROPN
ejpam-803	202	6	converges	converge	VERB
ejpam-803	202	7	to	to	ADP
ejpam-803	202	8	g	g	PROPN
ejpam-803	202	9	j	j	PROPN
ejpam-803	202	10	t	t	PROPN
ejpam-803	202	11	at	at	ADP
ejpam-803	202	12	rate	rate	NOUN
ejpam-803	202	13	p	p	NOUN
ejpam-803	202	14	n	n	NOUN
ejpam-803	202	15	,	,	PUNCT
ejpam-803	202	16	[	[	X
ejpam-803	202	17	5	5	NUM
ejpam-803	202	18	]	]	PUNCT
ejpam-803	202	19	show	show	VERB
ejpam-803	202	20	that	that	SCONJ
ejpam-803	202	21	the	the	DET
ejpam-803	202	22	limiting	limit	VERB
ejpam-803	202	23	distribution	distribution	NOUN
ejpam-803	202	24	of	of	ADP
ejpam-803	202	25	p	p	NOUN
ejpam-803	202	26	n(bg	n(bg	NUM
ejpam-803	202	27	j	j	PROPN
ejpam-803	202	28	t	t	PROPN
ejpam-803	202	29	−	−	PROPN
ejpam-803	202	30	g	g	PROPN
ejpam-803	202	31	j	j	PROPN
ejpam-803	202	32	t	t	PROPN
ejpam-803	202	33	)	)	PUNCT
ejpam-803	202	34	is	be	AUX
ejpam-803	202	35	asymptotically	asymptotically	ADV
ejpam-803	202	36	normal	normal	ADJ
ejpam-803	202	37	and	and	CCONJ
ejpam-803	202	38	hence	hence	ADV
ejpam-803	202	39	τt	τt	PROPN
ejpam-803	202	40	(	(	PUNCT
ejpam-803	202	41	j	j	NOUN
ejpam-803	202	42	)	)	PUNCT
ejpam-803	202	43	has	have	VERB
ejpam-803	202	44	a	a	DET
ejpam-803	202	45	standard	standard	ADJ
ejpam-803	202	46	normal	normal	ADJ
ejpam-803	202	47	limiting	limit	VERB
ejpam-803	202	48	distribution	distribution	NOUN
ejpam-803	202	49	.	.	PUNCT
ejpam-803	203	1	consistent	consistent	ADJ
ejpam-803	203	2	choices	choice	NOUN
ejpam-803	203	3	for	for	ADP
ejpam-803	203	4	the	the	DET
ejpam-803	203	5	the	the	DET
ejpam-803	203	6	bk×bk	bk×bk	PROPN
ejpam-803	203	7	matrix	matrix	NOUN
ejpam-803	203	8	eγt	eγt	NOUN
ejpam-803	203	9	include	include	VERB
ejpam-803	203	10	the	the	DET
ejpam-803	203	11	following	following	NOUN
ejpam-803	203	12	:	:	PUNCT
ejpam-803	203	13	eγ1	eγ1	PROPN
ejpam-803	203	14	t	t	NOUN
ejpam-803	203	15	=	=	SYM
ejpam-803	203	16	1	1	NUM
ejpam-803	203	17	n	n	NUM
ejpam-803	203	18	n∑	n∑	NOUN
ejpam-803	203	19	i=1	i=1	PROPN
ejpam-803	203	20	n∑	n∑	PROPN
ejpam-803	204	1	j=1	j=1	PROPN
ejpam-803	204	2	eλi	eλi	PROPN
ejpam-803	204	3	eλ′j	eλ′j	PROPN
ejpam-803	204	4	1	1	NUM
ejpam-803	204	5	t	t	NOUN
ejpam-803	204	6	t∑	t∑	PROPN
ejpam-803	204	7	t=1	t=1	PUNCT
ejpam-803	204	8	eei	eei	PROPN
ejpam-803	204	9	tee	tee	NOUN
ejpam-803	204	10	j	j	PROPN
ejpam-803	204	11	t	t	PROPN
ejpam-803	204	12	,	,	PUNCT
ejpam-803	204	13	∀	∀	X
ejpam-803	204	14	t	t	PROPN
ejpam-803	204	15	,	,	PUNCT
ejpam-803	204	16	(	(	PUNCT
ejpam-803	204	17	17	17	NUM
ejpam-803	204	18	)	)	PUNCT
ejpam-803	204	19	eγ2	eγ2	PROPN
ejpam-803	204	20	t	t	NOUN
ejpam-803	204	21	=	=	SYM
ejpam-803	204	22	1	1	NUM
ejpam-803	204	23	n	n	NUM
ejpam-803	204	24	n∑	n∑	PROPN
ejpam-803	204	25	i=1	i=1	PROPN
ejpam-803	205	1	ee2	ee2	PROPN
ejpam-803	206	1	i	i	PRON
ejpam-803	206	2	t	t	PROPN
ejpam-803	206	3	eλi	eλi	PROPN
ejpam-803	206	4	eλ′i	eλ′i	PROPN
ejpam-803	206	5	,	,	PUNCT
ejpam-803	206	6	(	(	PUNCT
ejpam-803	206	7	18	18	NUM
ejpam-803	206	8	)	)	PUNCT
ejpam-803	206	9	and	and	CCONJ
ejpam-803	206	10	eγ3	eγ3	NOUN
ejpam-803	206	11	=	=	SYM
ejpam-803	206	12	bσ2	bσ2	PROPN
ejpam-803	206	13	e	e	X
ejpam-803	206	14	eλ′eλ	eλ′eλ	PROPN
ejpam-803	206	15	n	n	PROPN
ejpam-803	206	16	,	,	PUNCT
ejpam-803	206	17	(	(	PUNCT
ejpam-803	206	18	19	19	NUM
ejpam-803	206	19	)	)	PUNCT
ejpam-803	206	20	where	where	SCONJ
ejpam-803	206	21	bσ2	bσ2	PROPN
ejpam-803	206	22	e	e	NOUN
ejpam-803	206	23	=	=	SYM
ejpam-803	206	24	1	1	NUM
ejpam-803	206	25	n	n	NUM
ejpam-803	206	26	t	t	NOUN
ejpam-803	206	27	n∑	n∑	NOUN
ejpam-803	206	28	i=1	i=1	PRON
ejpam-803	207	1	t∑	t∑	X
ejpam-803	207	2	t=1	t=1	PROPN
ejpam-803	207	3	ee2	ee2	PROPN
ejpam-803	208	1	i	i	PRON
ejpam-803	208	2	t	t	PROPN
ejpam-803	208	3	,	,	PUNCT
ejpam-803	208	4	eei	eei	PROPN
ejpam-803	208	5	t	t	PROPN
ejpam-803	209	1	=	=	PUNCT
ejpam-803	209	2	x	x	PUNCT
ejpam-803	210	1	i	i	PRON
ejpam-803	210	2	t	t	X
ejpam-803	210	3	−	−	PROPN
ejpam-803	210	4	eλ′i	eλ′i	PROPN
ejpam-803	210	5	eft	eft	PROPN
ejpam-803	210	6	and	and	CCONJ
ejpam-803	210	7	n	n	PROPN
ejpam-803	210	8	min[n	min[n	NOUN
ejpam-803	210	9	,	,	PUNCT
ejpam-803	210	10	t	t	PROPN
ejpam-803	210	11	]	]	PUNCT
ejpam-803	210	12	→	→	SYM
ejpam-803	210	13	0	0	NUM
ejpam-803	210	14	as	as	ADP
ejpam-803	210	15	n	n	PROPN
ejpam-803	210	16	,	,	PUNCT
ejpam-803	210	17	t	t	PROPN
ejpam-803	210	18	→∞.	→∞.	PUNCT
ejpam-803	210	19	in	in	ADP
ejpam-803	210	20	our	our	PRON
ejpam-803	210	21	monte	monte	PROPN
ejpam-803	210	22	carlo	carlo	PROPN
ejpam-803	210	23	simulation	simulation	PROPN
ejpam-803	210	24	and	and	CCONJ
ejpam-803	210	25	our	our	PRON
ejpam-803	210	26	empirical	empirical	ADJ
ejpam-803	210	27	analysis	analysis	NOUN
ejpam-803	210	28	,	,	PUNCT
ejpam-803	210	29	we	we	PRON
ejpam-803	210	30	choose	choose	VERB
ejpam-803	210	31	n	n	NOUN
ejpam-803	210	32	=	=	PUNCT
ejpam-803	210	33	min{pn	min{pn	NOUN
ejpam-803	210	34	,	,	PUNCT
ejpam-803	210	35	p	p	PROPN
ejpam-803	210	36	t	t	PROPN
ejpam-803	210	37	}	}	PUNCT
ejpam-803	210	38	.	.	PUNCT
ejpam-803	211	1	equation	equation	NOUN
ejpam-803	211	2	(	(	PUNCT
ejpam-803	211	3	17	17	NUM
ejpam-803	211	4	)	)	PUNCT
ejpam-803	211	5	allows	allow	VERB
ejpam-803	211	6	cross	cross	ADJ
ejpam-803	211	7	-	-	ADJ
ejpam-803	211	8	section	section	ADJ
ejpam-803	211	9	correlation	correlation	NOUN
ejpam-803	211	10	but	but	CCONJ
ejpam-803	211	11	assumes	assume	VERB
ejpam-803	211	12	time	time	NOUN
ejpam-803	211	13	-	-	PUNCT
ejpam-803	211	14	series	series	NOUN
ejpam-803	211	15	stationarity	stationarity	NOUN
ejpam-803	211	16	of	of	ADP
ejpam-803	211	17	ei	ei	PROPN
ejpam-803	211	18	t	t	PROPN
ejpam-803	211	19	.	.	PUNCT
ejpam-803	212	1	this	this	DET
ejpam-803	212	2	covariance	covariance	NOUN
ejpam-803	212	3	estimator	estimator	NOUN
ejpam-803	212	4	is	be	AUX
ejpam-803	212	5	a	a	DET
ejpam-803	212	6	hac	hac	NOUN
ejpam-803	212	7	type	type	NOUN
ejpam-803	212	8	estimator	estimator	NOUN
ejpam-803	212	9	because	because	SCONJ
ejpam-803	212	10	it	it	PRON
ejpam-803	212	11	is	be	AUX
ejpam-803	212	12	robust	robust	ADJ
ejpam-803	212	13	to	to	ADP
ejpam-803	212	14	cross	cross	NOUN
ejpam-803	212	15	-	-	NOUN
ejpam-803	212	16	correlation	correlation	NOUN
ejpam-803	212	17	[	[	X
ejpam-803	212	18	see	see	VERB
ejpam-803	212	19	4	4	NUM
ejpam-803	212	20	,	,	PUNCT
ejpam-803	212	21	for	for	ADP
ejpam-803	212	22	complete	complete	ADJ
ejpam-803	212	23	details	detail	NOUN
ejpam-803	212	24	]	]	PUNCT
ejpam-803	212	25	.	.	PUNCT
ejpam-803	213	1	equation	equation	NOUN
ejpam-803	213	2	(	(	PUNCT
ejpam-803	213	3	18	18	NUM
ejpam-803	213	4	)	)	PUNCT
ejpam-803	213	5	allows	allow	VERB
ejpam-803	213	6	for	for	ADP
ejpam-803	213	7	time	time	NOUN
ejpam-803	213	8	-	-	PUNCT
ejpam-803	213	9	series	series	NOUN
ejpam-803	213	10	heteroskedasticity	heteroskedasticity	NOUN
ejpam-803	213	11	,	,	PUNCT
ejpam-803	213	12	but	but	CCONJ
ejpam-803	213	13	assumes	assume	VERB
ejpam-803	213	14	no	no	DET
ejpam-803	213	15	cross	cross	ADJ
ejpam-803	213	16	-	-	ADJ
ejpam-803	213	17	sectional	sectional	ADJ
ejpam-803	213	18	correlation	correlation	NOUN
ejpam-803	213	19	of	of	ADP
ejpam-803	213	20	ei	ei	NOUN
ejpam-803	213	21	t	t	PROPN
ejpam-803	213	22	.	.	PUNCT
ejpam-803	214	1	equation	equation	NOUN
ejpam-803	214	2	(	(	PUNCT
ejpam-803	214	3	19	19	NUM
ejpam-803	214	4	)	)	PUNCT
ejpam-803	214	5	assumes	assume	VERB
ejpam-803	214	6	no	no	DET
ejpam-803	214	7	cross	cross	ADJ
ejpam-803	214	8	-	-	ADJ
ejpam-803	214	9	sectional	sectional	ADJ
ejpam-803	214	10	correlation	correlation	NOUN
ejpam-803	214	11	and	and	CCONJ
ejpam-803	214	12	constant	constant	ADJ
ejpam-803	214	13	variance	variance	NOUN
ejpam-803	214	14	,	,	PUNCT
ejpam-803	214	15	∀i	∀i	NOUN
ejpam-803	214	16	and	and	CCONJ
ejpam-803	214	17	∀t	∀t	NOUN
ejpam-803	214	18	.	.	PUNCT
ejpam-803	215	1	for	for	ADP
ejpam-803	215	2	small	small	ADJ
ejpam-803	215	3	cross	cross	ADJ
ejpam-803	215	4	-	-	ADJ
ejpam-803	215	5	sectional	sectional	ADJ
ejpam-803	215	6	correlation	correlation	NOUN
ejpam-803	215	7	in	in	ADP
ejpam-803	215	8	ei	ei	PROPN
ejpam-803	215	9	t	t	NOUN
ejpam-803	215	10	,	,	PUNCT
ejpam-803	215	11	[	[	X
ejpam-803	215	12	4	4	X
ejpam-803	215	13	]	]	PUNCT
ejpam-803	215	14	found	find	VERB
ejpam-803	215	15	that	that	SCONJ
ejpam-803	215	16	constraining	constrain	VERB
ejpam-803	215	17	the	the	DET
ejpam-803	215	18	correlations	correlation	NOUN
ejpam-803	215	19	to	to	PART
ejpam-803	215	20	be	be	AUX
ejpam-803	215	21	zero	zero	NUM
ejpam-803	215	22	could	could	AUX
ejpam-803	215	23	sometimes	sometimes	ADV
ejpam-803	215	24	be	be	AUX
ejpam-803	215	25	desirable	desirable	ADJ
ejpam-803	215	26	.	.	PUNCT
ejpam-803	216	1	in	in	ADP
ejpam-803	216	2	this	this	DET
ejpam-803	216	3	regard	regard	NOUN
ejpam-803	216	4	,	,	PUNCT
ejpam-803	216	5	they	they	PRON
ejpam-803	216	6	make	make	VERB
ejpam-803	216	7	the	the	DET
ejpam-803	216	8	point	point	NOUN
ejpam-803	216	9	that	that	SCONJ
ejpam-803	216	10	(	(	PUNCT
ejpam-803	216	11	18	18	NUM
ejpam-803	216	12	)	)	PUNCT
ejpam-803	216	13	and	and	CCONJ
ejpam-803	216	14	(	(	PUNCT
ejpam-803	216	15	19	19	NUM
ejpam-803	216	16	)	)	PUNCT
ejpam-803	216	17	are	be	AUX
ejpam-803	216	18	useful	useful	ADJ
ejpam-803	216	19	even	even	ADV
ejpam-803	216	20	if	if	SCONJ
ejpam-803	216	21	residual	residual	ADJ
ejpam-803	216	22	cross	cross	NOUN
ejpam-803	216	23	-	-	NOUN
ejpam-803	216	24	correlation	correlation	NOUN
ejpam-803	216	25	is	be	AUX
ejpam-803	216	26	genuinely	genuinely	ADV
ejpam-803	216	27	present	present	ADJ
ejpam-803	216	28	.	.	PUNCT
ejpam-803	217	1	as	as	SCONJ
ejpam-803	217	2	mentioned	mention	VERB
ejpam-803	217	3	earlier	early	ADV
ejpam-803	217	4	,	,	PUNCT
ejpam-803	217	5	τt	τt	PROPN
ejpam-803	217	6	(	(	PUNCT
ejpam-803	217	7	j	j	NOUN
ejpam-803	217	8	)	)	PUNCT
ejpam-803	217	9	in	in	ADP
ejpam-803	217	10	(	(	PUNCT
ejpam-803	217	11	15	15	NUM
ejpam-803	217	12	)	)	PUNCT
ejpam-803	217	13	has	have	VERB
ejpam-803	217	14	a	a	DET
ejpam-803	217	15	standard	standard	ADJ
ejpam-803	217	16	normal	normal	ADJ
ejpam-803	217	17	limiting	limit	VERB
ejpam-803	217	18	distribution	distribution	NOUN
ejpam-803	217	19	.	.	PUNCT
ejpam-803	218	1	let	let	VERB
ejpam-803	218	2	φτ	φτ	NOUN
ejpam-803	218	3	ξ	ξ	PROPN
ejpam-803	218	4	be	be	AUX
ejpam-803	218	5	the	the	DET
ejpam-803	218	6	ξ	ξ	PROPN
ejpam-803	218	7	percentage	percentage	NOUN
ejpam-803	218	8	point	point	NOUN
ejpam-803	218	9	of	of	ADP
ejpam-803	218	10	the	the	DET
ejpam-803	218	11	limiting	limit	VERB
ejpam-803	218	12	distribution	distribution	NOUN
ejpam-803	218	13	of	of	ADP
ejpam-803	218	14	τt	τt	PROPN
ejpam-803	218	15	(	(	PUNCT
ejpam-803	218	16	j	j	PROPN
ejpam-803	218	17	)	)	PUNCT
ejpam-803	218	18	.	.	PUNCT
ejpam-803	219	1	a	a	DET
ejpam-803	219	2	hypothesis	hypothesis	NOUN
ejpam-803	219	3	test	test	NOUN
ejpam-803	219	4	based	base	VERB
ejpam-803	219	5	on	on	ADP
ejpam-803	219	6	the	the	DET
ejpam-803	219	7	t	t	NOUN
ejpam-803	219	8	-	-	PUNCT
ejpam-803	219	9	statistic	statistic	NOUN
ejpam-803	219	10	in	in	ADP
ejpam-803	219	11	(	(	PUNCT
ejpam-803	219	12	15	15	NUM
ejpam-803	219	13	)	)	PUNCT
ejpam-803	219	14	enables	enable	VERB
ejpam-803	219	15	us	we	PRON
ejpam-803	219	16	to	to	PART
ejpam-803	219	17	determine	determine	VERB
ejpam-803	219	18	whether	whether	SCONJ
ejpam-803	219	19	an	an	DET
ejpam-803	219	20	observed	observed	ADJ
ejpam-803	219	21	value	value	NOUN
ejpam-803	219	22	of	of	ADP
ejpam-803	219	23	a	a	DET
ejpam-803	219	24	candidate	candidate	NOUN
ejpam-803	219	25	variable	variable	NOUN
ejpam-803	219	26	is	be	AUX
ejpam-803	219	27	a	a	DET
ejpam-803	219	28	good	good	ADJ
ejpam-803	219	29	proxy	proxy	NOUN
ejpam-803	219	30	at	at	ADP
ejpam-803	219	31	a	a	DET
ejpam-803	219	32	specific	specific	ADJ
ejpam-803	219	33	time	time	NOUN
ejpam-803	219	34	t.	t.	PROPN
ejpam-803	219	35	however	however	ADV
ejpam-803	219	36	,	,	PUNCT
ejpam-803	219	37	given	give	VERB
ejpam-803	219	38	information	information	NOUN
ejpam-803	219	39	up	up	ADP
ejpam-803	219	40	to	to	ADP
ejpam-803	219	41	time	time	NOUN
ejpam-803	219	42	t	t	PROPN
ejpam-803	219	43	,	,	PUNCT
ejpam-803	219	44	whatever	whatever	DET
ejpam-803	219	45	methods	method	NOUN
ejpam-803	219	46	or	or	CCONJ
ejpam-803	219	47	procedures	procedure	NOUN
ejpam-803	219	48	we	we	PRON
ejpam-803	219	49	use	use	VERB
ejpam-803	219	50	to	to	PART
ejpam-803	219	51	select	select	VERB
ejpam-803	219	52	the	the	DET
ejpam-803	219	53	proxies	proxy	NOUN
ejpam-803	219	54	ought	ought	AUX
ejpam-803	219	55	to	to	PART
ejpam-803	219	56	select	select	VERB
ejpam-803	219	57	whole	whole	ADJ
ejpam-803	219	58	time	time	NOUN
ejpam-803	219	59	series	series	PROPN
ejpam-803	219	60	g	g	PROPN
ejpam-803	219	61	j	j	PROPN
ejpam-803	219	62	,	,	PUNCT
ejpam-803	219	63	for	for	ADP
ejpam-803	219	64	which	which	PRON
ejpam-803	219	65	g	g	PROPN
ejpam-803	219	66	j	j	PROPN
ejpam-803	219	67	t	t	PROPN
ejpam-803	219	68	n.	n.	PROPN
ejpam-803	219	69	armah	armah	PROPN
ejpam-803	219	70	and	and	CCONJ
ejpam-803	219	71	n.	n.	PROPN
ejpam-803	219	72	swanson	swanson	PROPN
ejpam-803	219	73	/	/	SYM
ejpam-803	219	74	eur	eur	PROPN
ejpam-803	219	75	.	.	PUNCT
ejpam-803	220	1	j.	j.	PROPN
ejpam-803	220	2	pure	pure	PROPN
ejpam-803	220	3	appl	appl	PROPN
ejpam-803	220	4	.	.	PROPN
ejpam-803	220	5	math	math	PROPN
ejpam-803	220	6	,	,	PUNCT
ejpam-803	220	7	3	3	NUM
ejpam-803	220	8	(	(	PUNCT
ejpam-803	220	9	2010	2010	NUM
ejpam-803	220	10	)	)	PUNCT
ejpam-803	220	11	,	,	PUNCT
ejpam-803	220	12	478	478	NUM
ejpam-803	220	13	-	-	SYM
ejpam-803	220	14	501	501	NUM
ejpam-803	220	15	485	485	NUM
ejpam-803	220	16	satisfies	satisfie	NOUN
ejpam-803	220	17	the	the	DET
ejpam-803	220	18	null	null	ADJ
ejpam-803	220	19	hypothesis	hypothesis	NOUN
ejpam-803	220	20	,	,	PUNCT
ejpam-803	220	21	∀t	∀t	PROPN
ejpam-803	220	22	.	.	PUNCT
ejpam-803	221	1	in	in	ADP
ejpam-803	221	2	this	this	DET
ejpam-803	221	3	regard	regard	NOUN
ejpam-803	221	4	,	,	PUNCT
ejpam-803	221	5	our	our	PRON
ejpam-803	221	6	first	first	ADJ
ejpam-803	221	7	proxy	proxy	ADJ
ejpam-803	221	8	selection	selection	NOUN
ejpam-803	221	9	method	method	NOUN
ejpam-803	221	10	is	be	AUX
ejpam-803	221	11	based	base	VERB
ejpam-803	221	12	upon	upon	SCONJ
ejpam-803	221	13	the	the	DET
ejpam-803	221	14	following	follow	VERB
ejpam-803	221	15	statistic	statistic	NOUN
ejpam-803	221	16	:	:	PUNCT
ejpam-803	221	17	a	a	DET
ejpam-803	221	18	(	(	PUNCT
ejpam-803	221	19	j	j	NOUN
ejpam-803	221	20	)	)	PUNCT
ejpam-803	221	21	=	=	SYM
ejpam-803	222	1	1	1	NUM
ejpam-803	222	2	t	t	NOUN
ejpam-803	222	3	t∑	t∑	PROPN
ejpam-803	222	4	t=1	t=1	PROPN
ejpam-803	222	5	1(|τt	1(|τt	PROPN
ejpam-803	222	6	(	(	PUNCT
ejpam-803	222	7	j)|	j)|	PROPN
ejpam-803	222	8	>	>	X
ejpam-803	222	9	φτξ	φτξ	PROPN
ejpam-803	222	10	)	)	PUNCT
ejpam-803	222	11	.	.	PUNCT
ejpam-803	223	1	(	(	PUNCT
ejpam-803	223	2	20	20	NUM
ejpam-803	223	3	)	)	PUNCT
ejpam-803	223	4	the	the	DET
ejpam-803	223	5	a	a	PROPN
ejpam-803	223	6	(	(	PUNCT
ejpam-803	223	7	j	j	NOUN
ejpam-803	223	8	)	)	PUNCT
ejpam-803	223	9	statistic	statistic	NOUN
ejpam-803	223	10	is	be	AUX
ejpam-803	223	11	the	the	DET
ejpam-803	223	12	actual	actual	ADJ
ejpam-803	223	13	size	size	NOUN
ejpam-803	223	14	of	of	ADP
ejpam-803	223	15	the	the	DET
ejpam-803	223	16	test	test	NOUN
ejpam-803	223	17	(	(	PUNCT
ejpam-803	223	18	i.e.	i.e.	X
ejpam-803	223	19	,	,	PUNCT
ejpam-803	223	20	the	the	DET
ejpam-803	223	21	probability	probability	NOUN
ejpam-803	223	22	of	of	ADP
ejpam-803	223	23	type	type	NOUN
ejpam-803	223	24	i	i	PRON
ejpam-803	223	25	error	error	NOUN
ejpam-803	223	26	given	give	VERB
ejpam-803	223	27	the	the	DET
ejpam-803	223	28	sample	sample	NOUN
ejpam-803	223	29	size	size	NOUN
ejpam-803	223	30	)	)	PUNCT
ejpam-803	223	31	.	.	PUNCT
ejpam-803	224	1	since	since	SCONJ
ejpam-803	224	2	τt	τt	PROPN
ejpam-803	224	3	(	(	PUNCT
ejpam-803	224	4	j	j	NOUN
ejpam-803	224	5	)	)	PUNCT
ejpam-803	224	6	is	be	AUX
ejpam-803	224	7	asymptotically	asymptotically	ADV
ejpam-803	224	8	standard	standard	ADJ
ejpam-803	224	9	normal	normal	ADJ
ejpam-803	224	10	and	and	CCONJ
ejpam-803	224	11	the	the	DET
ejpam-803	224	12	test	test	NOUN
ejpam-803	224	13	is	be	AUX
ejpam-803	224	14	a	a	DET
ejpam-803	224	15	two	two	NUM
ejpam-803	224	16	-	-	PUNCT
ejpam-803	224	17	tailed	tail	VERB
ejpam-803	224	18	test	test	NOUN
ejpam-803	224	19	,	,	PUNCT
ejpam-803	224	20	the	the	DET
ejpam-803	224	21	actual	actual	ADJ
ejpam-803	224	22	size	size	NOUN
ejpam-803	224	23	,	,	PUNCT
ejpam-803	224	24	a	a	DET
ejpam-803	224	25	(	(	PUNCT
ejpam-803	224	26	j	j	NOUN
ejpam-803	224	27	)	)	PUNCT
ejpam-803	224	28	,	,	PUNCT
ejpam-803	224	29	of	of	ADP
ejpam-803	224	30	the	the	DET
ejpam-803	224	31	t	t	NOUN
ejpam-803	224	32	-	-	PUNCT
ejpam-803	224	33	test	test	NOUN
ejpam-803	224	34	should	should	AUX
ejpam-803	224	35	converge	converge	VERB
ejpam-803	224	36	to	to	ADP
ejpam-803	224	37	the	the	DET
ejpam-803	224	38	nominal	nominal	ADJ
ejpam-803	224	39	size	size	NOUN
ejpam-803	224	40	(	(	PUNCT
ejpam-803	224	41	the	the	DET
ejpam-803	224	42	desired	desire	VERB
ejpam-803	224	43	significance	significance	NOUN
ejpam-803	224	44	level	level	NOUN
ejpam-803	224	45	is	be	AUX
ejpam-803	224	46	2ξ	2ξ	NUM
ejpam-803	224	47	)	)	PUNCT
ejpam-803	224	48	as	as	ADP
ejpam-803	224	49	t	t	PROPN
ejpam-803	224	50	→∞.	→∞.	PROPN
ejpam-803	225	1	this	this	PRON
ejpam-803	225	2	means	mean	VERB
ejpam-803	225	3	that	that	SCONJ
ejpam-803	225	4	if	if	SCONJ
ejpam-803	225	5	a	a	DET
ejpam-803	225	6	candidate	candidate	NOUN
ejpam-803	225	7	variable	variable	NOUN
ejpam-803	225	8	is	be	AUX
ejpam-803	225	9	a	a	DET
ejpam-803	225	10	good	good	ADJ
ejpam-803	225	11	proxy	proxy	NOUN
ejpam-803	225	12	of	of	ADP
ejpam-803	225	13	the	the	DET
ejpam-803	225	14	underlying	underlie	VERB
ejpam-803	225	15	factors	factor	NOUN
ejpam-803	225	16	of	of	ADP
ejpam-803	225	17	a	a	DET
ejpam-803	225	18	dataset	dataset	NOUN
ejpam-803	225	19	,	,	PUNCT
ejpam-803	225	20	the	the	DET
ejpam-803	225	21	a	a	PROPN
ejpam-803	225	22	(	(	PUNCT
ejpam-803	225	23	j	j	NOUN
ejpam-803	225	24	)	)	PUNCT
ejpam-803	225	25	statistic	statistic	NOUN
ejpam-803	225	26	calculated	calculate	VERB
ejpam-803	225	27	from	from	ADP
ejpam-803	225	28	its	its	PRON
ejpam-803	225	29	sample	sample	NOUN
ejpam-803	225	30	time	time	NOUN
ejpam-803	225	31	series	series	PROPN
ejpam-803	225	32	should	should	AUX
ejpam-803	225	33	approach	approach	VERB
ejpam-803	225	34	2ξ	2ξ	NUM
ejpam-803	225	35	as	as	ADP
ejpam-803	225	36	the	the	DET
ejpam-803	225	37	sample	sample	NOUN
ejpam-803	225	38	size	size	NOUN
ejpam-803	225	39	increases	increase	VERB
ejpam-803	225	40	.	.	PUNCT
ejpam-803	226	1	this	this	PRON
ejpam-803	226	2	is	be	AUX
ejpam-803	226	3	the	the	DET
ejpam-803	226	4	basis	basis	NOUN
ejpam-803	226	5	on	on	ADP
ejpam-803	226	6	which	which	PRON
ejpam-803	226	7	we	we	PRON
ejpam-803	226	8	use	use	VERB
ejpam-803	226	9	the	the	DET
ejpam-803	226	10	a	a	PROPN
ejpam-803	226	11	(	(	PUNCT
ejpam-803	226	12	j	j	NOUN
ejpam-803	226	13	)	)	PUNCT
ejpam-803	226	14	statistic	statistic	NOUN
ejpam-803	226	15	to	to	PART
ejpam-803	226	16	select	select	VERB
ejpam-803	226	17	proxies	proxy	NOUN
ejpam-803	226	18	.	.	PUNCT
ejpam-803	227	1	it	it	PRON
ejpam-803	227	2	should	should	AUX
ejpam-803	227	3	be	be	AUX
ejpam-803	227	4	noted	note	VERB
ejpam-803	227	5	that	that	SCONJ
ejpam-803	227	6	the	the	DET
ejpam-803	227	7	a	a	PROPN
ejpam-803	227	8	(	(	PUNCT
ejpam-803	227	9	j	j	NOUN
ejpam-803	227	10	)	)	PUNCT
ejpam-803	227	11	statistic	statistic	NOUN
ejpam-803	227	12	does	do	AUX
ejpam-803	227	13	not	not	PART
ejpam-803	227	14	constitute	constitute	VERB
ejpam-803	227	15	a	a	DET
ejpam-803	227	16	test	test	NOUN
ejpam-803	227	17	in	in	ADP
ejpam-803	227	18	the	the	DET
ejpam-803	227	19	strict	strict	ADJ
ejpam-803	227	20	sense	sense	NOUN
ejpam-803	227	21	since	since	SCONJ
ejpam-803	227	22	we	we	PRON
ejpam-803	227	23	do	do	AUX
ejpam-803	227	24	not	not	PART
ejpam-803	227	25	compare	compare	VERB
ejpam-803	227	26	a	a	DET
ejpam-803	227	27	test	test	NOUN
ejpam-803	227	28	statistic	statistic	NOUN
ejpam-803	227	29	to	to	ADP
ejpam-803	227	30	a	a	DET
ejpam-803	227	31	critical	critical	ADJ
ejpam-803	227	32	value	value	NOUN
ejpam-803	227	33	to	to	PART
ejpam-803	227	34	determine	determine	VERB
ejpam-803	227	35	whether	whether	SCONJ
ejpam-803	227	36	or	or	CCONJ
ejpam-803	227	37	not	not	PART
ejpam-803	227	38	to	to	PART
ejpam-803	227	39	reject	reject	VERB
ejpam-803	227	40	a	a	DET
ejpam-803	227	41	null	null	ADJ
ejpam-803	227	42	hypothesis	hypothesis	NOUN
ejpam-803	227	43	.	.	PUNCT
ejpam-803	228	1	rather	rather	ADV
ejpam-803	228	2	,	,	PUNCT
ejpam-803	228	3	this	this	DET
ejpam-803	228	4	procedure	procedure	NOUN
ejpam-803	228	5	gives	give	VERB
ejpam-803	228	6	a	a	DET
ejpam-803	228	7	ranking	ranking	NOUN
ejpam-803	228	8	of	of	ADP
ejpam-803	228	9	the	the	DET
ejpam-803	228	10	proxies	proxy	NOUN
ejpam-803	228	11	with	with	ADP
ejpam-803	228	12	the	the	DET
ejpam-803	228	13	best	good	ADJ
ejpam-803	228	14	proxy	proxy	NOUN
ejpam-803	228	15	having	have	VERB
ejpam-803	228	16	an	an	DET
ejpam-803	228	17	a	a	PRON
ejpam-803	228	18	(	(	PUNCT
ejpam-803	228	19	j	j	NOUN
ejpam-803	228	20	)	)	PUNCT
ejpam-803	228	21	statistic	statistic	NOUN
ejpam-803	228	22	value	value	NOUN
ejpam-803	228	23	closest	close	ADJ
ejpam-803	228	24	to	to	ADP
ejpam-803	228	25	2ξ	2ξ	NUM
ejpam-803	228	26	.	.	PUNCT
ejpam-803	229	1	another	another	DET
ejpam-803	229	2	method	method	NOUN
ejpam-803	229	3	for	for	ADP
ejpam-803	229	4	selecting	select	VERB
ejpam-803	229	5	the	the	DET
ejpam-803	229	6	proxies	proxy	NOUN
ejpam-803	229	7	considers	consider	VERB
ejpam-803	229	8	the	the	DET
ejpam-803	229	9	statistic	statistic	NOUN
ejpam-803	229	10	:	:	PUNCT
ejpam-803	229	11	m	m	PROPN
ejpam-803	229	12	(	(	PUNCT
ejpam-803	229	13	j	j	NOUN
ejpam-803	229	14	)	)	PUNCT
ejpam-803	230	1	=	=	SYM
ejpam-803	230	2	max	max	PROPN
ejpam-803	230	3	1≤t≤t	1≤t≤t	NUM
ejpam-803	230	4	|τt	|τt	PROPN
ejpam-803	230	5	(	(	PUNCT
ejpam-803	230	6	j)|	j)|	PROPN
ejpam-803	230	7	,	,	PUNCT
ejpam-803	230	8	(	(	PUNCT
ejpam-803	230	9	21	21	NUM
ejpam-803	230	10	)	)	PUNCT
ejpam-803	230	11	which	which	PRON
ejpam-803	230	12	is	be	AUX
ejpam-803	230	13	based	base	VERB
ejpam-803	230	14	on	on	ADP
ejpam-803	230	15	a	a	DET
ejpam-803	230	16	measure	measure	NOUN
ejpam-803	230	17	of	of	ADP
ejpam-803	230	18	how	how	SCONJ
ejpam-803	230	19	far	far	ADV
ejpam-803	230	20	the	the	DET
ejpam-803	230	21	bg	bg	PROPN
ejpam-803	230	22	j	j	PROPN
ejpam-803	230	23	t	t	PROPN
ejpam-803	230	24	curve	curve	NOUN
ejpam-803	230	25	is	be	AUX
ejpam-803	230	26	from	from	ADP
ejpam-803	230	27	g	g	PROPN
ejpam-803	230	28	j	j	PROPN
ejpam-803	230	29	t	t	PROPN
ejpam-803	230	30	.	.	PUNCT
ejpam-803	231	1	if	if	SCONJ
ejpam-803	231	2	ei	ei	PROPN
ejpam-803	231	3	t	t	PROPN
ejpam-803	231	4	is	be	AUX
ejpam-803	231	5	serially	serially	ADV
ejpam-803	231	6	uncorrelated	uncorrelate	VERB
ejpam-803	231	7	,	,	PUNCT
ejpam-803	231	8	then	then	ADV
ejpam-803	231	9	:	:	PUNCT
ejpam-803	231	10	p(m	p(m	NOUN
ejpam-803	231	11	(	(	PUNCT
ejpam-803	231	12	j)≤	j)≤	X
ejpam-803	231	13	x)≈	x)≈	PUNCT
ejpam-803	232	1	[	[	X
ejpam-803	232	2	2φ(x)−	2φ(x)−	NUM
ejpam-803	232	3	1]t	1]t	NUM
ejpam-803	232	4	,	,	PUNCT
ejpam-803	232	5	(	(	PUNCT
ejpam-803	232	6	22	22	NUM
ejpam-803	232	7	)	)	PUNCT
ejpam-803	232	8	where	where	SCONJ
ejpam-803	232	9	φ(x	φ(x	NOUN
ejpam-803	232	10	)	)	PUNCT
ejpam-803	232	11	is	be	AUX
ejpam-803	232	12	the	the	DET
ejpam-803	232	13	cdf	cdf	PROPN
ejpam-803	232	14	of	of	ADP
ejpam-803	232	15	a	a	DET
ejpam-803	232	16	standard	standard	ADJ
ejpam-803	232	17	normal	normal	ADJ
ejpam-803	232	18	random	random	ADJ
ejpam-803	232	19	variable	variable	NOUN
ejpam-803	232	20	.	.	PUNCT
ejpam-803	233	1	from	from	ADP
ejpam-803	233	2	(	(	PUNCT
ejpam-803	233	3	21	21	NUM
ejpam-803	233	4	)	)	PUNCT
ejpam-803	233	5	and	and	CCONJ
ejpam-803	233	6	(	(	PUNCT
ejpam-803	233	7	22	22	NUM
ejpam-803	233	8	)	)	PUNCT
ejpam-803	233	9	,	,	PUNCT
ejpam-803	233	10	we	we	PRON
ejpam-803	233	11	can	can	AUX
ejpam-803	233	12	perform	perform	VERB
ejpam-803	233	13	a	a	DET
ejpam-803	233	14	test	test	NOUN
ejpam-803	233	15	to	to	PART
ejpam-803	233	16	determine	determine	VERB
ejpam-803	233	17	whether	whether	SCONJ
ejpam-803	233	18	the	the	DET
ejpam-803	233	19	time	time	NOUN
ejpam-803	233	20	series	series	NOUN
ejpam-803	233	21	of	of	ADP
ejpam-803	233	22	a	a	DET
ejpam-803	233	23	candidate	candidate	NOUN
ejpam-803	233	24	variable	variable	NOUN
ejpam-803	233	25	is	be	AUX
ejpam-803	233	26	a	a	DET
ejpam-803	233	27	good	good	ADJ
ejpam-803	233	28	proxy	proxy	NOUN
ejpam-803	233	29	for	for	ADP
ejpam-803	233	30	the	the	DET
ejpam-803	233	31	latent	latent	NOUN
ejpam-803	233	32	factors	factor	NOUN
ejpam-803	233	33	.	.	PUNCT
ejpam-803	234	1	for	for	ADP
ejpam-803	234	2	instance	instance	NOUN
ejpam-803	234	3	,	,	PUNCT
ejpam-803	234	4	suppose	suppose	VERB
ejpam-803	234	5	we	we	PRON
ejpam-803	234	6	are	be	AUX
ejpam-803	234	7	given	give	VERB
ejpam-803	234	8	a	a	DET
ejpam-803	234	9	significance	significance	NOUN
ejpam-803	234	10	level	level	NOUN
ejpam-803	234	11	2ξ	2ξ	NUM
ejpam-803	234	12	and	and	CCONJ
ejpam-803	234	13	a	a	DET
ejpam-803	234	14	sample	sample	NOUN
ejpam-803	234	15	of	of	ADP
ejpam-803	234	16	size	size	NOUN
ejpam-803	234	17	t	t	PROPN
ejpam-803	234	18	from	from	ADP
ejpam-803	234	19	a	a	DET
ejpam-803	234	20	particular	particular	ADJ
ejpam-803	234	21	candidate	candidate	NOUN
ejpam-803	234	22	variable	variable	NOUN
ejpam-803	234	23	,	,	PUNCT
ejpam-803	234	24	g	g	PROPN
ejpam-803	234	25	j	j	PROPN
ejpam-803	234	26	.	.	PUNCT
ejpam-803	235	1	from	from	ADP
ejpam-803	235	2	the	the	DET
ejpam-803	235	3	right	right	ADJ
ejpam-803	235	4	hand	hand	NOUN
ejpam-803	235	5	side	side	NOUN
ejpam-803	235	6	of	of	ADP
ejpam-803	235	7	(	(	PUNCT
ejpam-803	235	8	22	22	NUM
ejpam-803	235	9	)	)	PUNCT
ejpam-803	235	10	,	,	PUNCT
ejpam-803	235	11	we	we	PRON
ejpam-803	235	12	can	can	AUX
ejpam-803	235	13	calculate	calculate	VERB
ejpam-803	235	14	the	the	DET
ejpam-803	235	15	corresponding	corresponding	ADJ
ejpam-803	235	16	critical	critical	ADJ
ejpam-803	235	17	value	value	NOUN
ejpam-803	235	18	,	,	PUNCT
ejpam-803	235	19	x	x	X
ejpam-803	235	20	,	,	PUNCT
ejpam-803	235	21	for	for	ADP
ejpam-803	235	22	the	the	DET
ejpam-803	235	23	test	test	NOUN
ejpam-803	235	24	.	.	PUNCT
ejpam-803	236	1	for	for	ADP
ejpam-803	236	2	the	the	DET
ejpam-803	236	3	same	same	ADJ
ejpam-803	236	4	sample	sample	NOUN
ejpam-803	236	5	,	,	PUNCT
ejpam-803	236	6	we	we	PRON
ejpam-803	236	7	calculate	calculate	VERB
ejpam-803	236	8	m	m	PROPN
ejpam-803	236	9	(	(	PUNCT
ejpam-803	236	10	j	j	NOUN
ejpam-803	236	11	)	)	PUNCT
ejpam-803	236	12	from	from	ADP
ejpam-803	236	13	(	(	PUNCT
ejpam-803	236	14	21	21	NUM
ejpam-803	236	15	)	)	PUNCT
ejpam-803	236	16	and	and	CCONJ
ejpam-803	236	17	conclude	conclude	VERB
ejpam-803	236	18	that	that	SCONJ
ejpam-803	236	19	g	g	PROPN
ejpam-803	236	20	j	j	PROPN
ejpam-803	236	21	is	be	AUX
ejpam-803	236	22	a	a	DET
ejpam-803	236	23	good	good	ADJ
ejpam-803	236	24	proxy	proxy	NOUN
ejpam-803	236	25	if	if	SCONJ
ejpam-803	236	26	m	m	NOUN
ejpam-803	236	27	(	(	PUNCT
ejpam-803	236	28	j)≤	j)≤	NOUN
ejpam-803	236	29	x	x	X
ejpam-803	236	30	,	,	PUNCT
ejpam-803	236	31	and	and	CCONJ
ejpam-803	236	32	a	a	DET
ejpam-803	236	33	bad	bad	ADJ
ejpam-803	236	34	proxy	proxy	NOUN
ejpam-803	236	35	otherwise	otherwise	ADV
ejpam-803	236	36	.	.	PUNCT
ejpam-803	237	1	the	the	DET
ejpam-803	237	2	test	test	NOUN
ejpam-803	237	3	based	base	VERB
ejpam-803	237	4	on	on	ADP
ejpam-803	237	5	the	the	DET
ejpam-803	237	6	m	m	PROPN
ejpam-803	237	7	(	(	PUNCT
ejpam-803	237	8	j	j	NOUN
ejpam-803	237	9	)	)	PUNCT
ejpam-803	237	10	statistic	statistic	NOUN
ejpam-803	237	11	is	be	AUX
ejpam-803	237	12	thus	thus	ADV
ejpam-803	237	13	stronger	strong	ADJ
ejpam-803	237	14	than	than	ADP
ejpam-803	237	15	the	the	DET
ejpam-803	237	16	selection	selection	NOUN
ejpam-803	237	17	method	method	NOUN
ejpam-803	237	18	based	base	VERB
ejpam-803	237	19	on	on	ADP
ejpam-803	237	20	the	the	DET
ejpam-803	237	21	a	a	PROPN
ejpam-803	237	22	(	(	PUNCT
ejpam-803	237	23	j	j	PROPN
ejpam-803	237	24	)	)	PUNCT
ejpam-803	237	25	statistic	statistic	NOUN
ejpam-803	237	26	,	,	PUNCT
ejpam-803	237	27	as	as	SCONJ
ejpam-803	237	28	the	the	DET
ejpam-803	237	29	m	m	PROPN
ejpam-803	237	30	(	(	PUNCT
ejpam-803	237	31	j	j	NOUN
ejpam-803	237	32	)	)	PUNCT
ejpam-803	237	33	test	test	NOUN
ejpam-803	237	34	gives	give	VERB
ejpam-803	237	35	a	a	DET
ejpam-803	237	36	sharp	sharp	ADJ
ejpam-803	237	37	decision	decision	NOUN
ejpam-803	237	38	rule	rule	NOUN
ejpam-803	237	39	.	.	PUNCT
ejpam-803	238	1	however	however	ADV
ejpam-803	238	2	,	,	PUNCT
ejpam-803	238	3	the	the	DET
ejpam-803	238	4	m	m	PROPN
ejpam-803	238	5	(	(	PUNCT
ejpam-803	238	6	j	j	NOUN
ejpam-803	238	7	)	)	PUNCT
ejpam-803	238	8	test	test	NOUN
ejpam-803	238	9	has	have	VERB
ejpam-803	238	10	at	at	ADV
ejpam-803	238	11	least	least	ADJ
ejpam-803	238	12	one	one	NUM
ejpam-803	238	13	disadvantage	disadvantage	NOUN
ejpam-803	238	14	.	.	PUNCT
ejpam-803	239	1	it	it	PRON
ejpam-803	239	2	requires	require	VERB
ejpam-803	239	3	ei	ei	ADP
ejpam-803	239	4	t	t	PROPN
ejpam-803	239	5	to	to	PART
ejpam-803	239	6	be	be	AUX
ejpam-803	239	7	serially	serially	ADV
ejpam-803	239	8	uncorrelated	uncorrelate	VERB
ejpam-803	239	9	.	.	PUNCT
ejpam-803	240	1	we	we	PRON
ejpam-803	240	2	ignore	ignore	VERB
ejpam-803	240	3	this	this	DET
ejpam-803	240	4	requirement	requirement	NOUN
ejpam-803	240	5	in	in	ADP
ejpam-803	240	6	our	our	PRON
ejpam-803	240	7	experimental	experimental	ADJ
ejpam-803	240	8	analysis	analysis	NOUN
ejpam-803	240	9	.	.	PUNCT
ejpam-803	241	1	it	it	PRON
ejpam-803	241	2	should	should	AUX
ejpam-803	241	3	be	be	AUX
ejpam-803	241	4	noted	note	VERB
ejpam-803	241	5	that	that	SCONJ
ejpam-803	241	6	x	x	NOUN
ejpam-803	241	7	increases	increase	VERB
ejpam-803	241	8	with	with	ADP
ejpam-803	241	9	the	the	DET
ejpam-803	241	10	sample	sample	NOUN
ejpam-803	241	11	size	size	NOUN
ejpam-803	241	12	,	,	PUNCT
ejpam-803	241	13	t	t	PROPN
ejpam-803	241	14	.	.	PUNCT
ejpam-803	242	1	depending	depend	VERB
ejpam-803	242	2	on	on	ADP
ejpam-803	242	3	the	the	DET
ejpam-803	242	4	nature	nature	NOUN
ejpam-803	242	5	of	of	ADP
ejpam-803	242	6	the	the	DET
ejpam-803	242	7	observed	observed	ADJ
ejpam-803	242	8	sample	sample	NOUN
ejpam-803	242	9	,	,	PUNCT
ejpam-803	242	10	this	this	DET
ejpam-803	242	11	fact	fact	NOUN
ejpam-803	242	12	could	could	AUX
ejpam-803	242	13	either	either	CCONJ
ejpam-803	242	14	preserve	preserve	VERB
ejpam-803	242	15	or	or	CCONJ
ejpam-803	242	16	reduce	reduce	VERB
ejpam-803	242	17	the	the	DET
ejpam-803	242	18	power	power	NOUN
ejpam-803	242	19	of	of	ADP
ejpam-803	242	20	the	the	DET
ejpam-803	242	21	m	m	PROPN
ejpam-803	242	22	(	(	PUNCT
ejpam-803	242	23	j	j	NOUN
ejpam-803	242	24	)	)	PUNCT
ejpam-803	242	25	test.‡	test.‡	X
ejpam-803	242	26	the	the	DET
ejpam-803	242	27	a	a	PROPN
ejpam-803	242	28	(	(	PUNCT
ejpam-803	242	29	j	j	NOUN
ejpam-803	242	30	)	)	PUNCT
ejpam-803	242	31	and	and	CCONJ
ejpam-803	242	32	m	m	PROPN
ejpam-803	242	33	(	(	PUNCT
ejpam-803	242	34	j	j	NOUN
ejpam-803	242	35	)	)	PUNCT
ejpam-803	242	36	statistics	statistic	NOUN
ejpam-803	242	37	discussed	discuss	VERB
ejpam-803	242	38	above	above	ADV
ejpam-803	242	39	may	may	AUX
ejpam-803	242	40	yield	yield	VERB
ejpam-803	242	41	a	a	DET
ejpam-803	242	42	different	different	ADJ
ejpam-803	242	43	set	set	NOUN
ejpam-803	242	44	of	of	ADP
ejpam-803	242	45	proxies	proxy	NOUN
ejpam-803	242	46	at	at	ADP
ejpam-803	242	47	each	each	DET
ejpam-803	242	48	point	point	NOUN
ejpam-803	242	49	in	in	ADP
ejpam-803	242	50	time	time	NOUN
ejpam-803	242	51	when	when	SCONJ
ejpam-803	242	52	used	use	VERB
ejpam-803	242	53	to	to	PART
ejpam-803	242	54	construct	construct	VERB
ejpam-803	242	55	a	a	DET
ejpam-803	242	56	sequence	sequence	NOUN
ejpam-803	242	57	of	of	ADP
ejpam-803	242	58	recursive	recursive	ADJ
ejpam-803	242	59	forecasts	forecast	NOUN
ejpam-803	242	60	.	.	PUNCT
ejpam-803	243	1	namely	namely	ADV
ejpam-803	243	2	,	,	PUNCT
ejpam-803	243	3	if	if	SCONJ
ejpam-803	243	4	the	the	DET
ejpam-803	243	5	information	information	NOUN
ejpam-803	243	6	set	set	VERB
ejpam-803	243	7	used	use	VERB
ejpam-803	243	8	in	in	ADP
ejpam-803	243	9	the	the	DET
ejpam-803	243	10	parameterization	parameterization	NOUN
ejpam-803	243	11	of	of	ADP
ejpam-803	243	12	a	a	DET
ejpam-803	243	13	prediction	prediction	NOUN
ejpam-803	243	14	model	model	NOUN
ejpam-803	243	15	is	be	AUX
ejpam-803	243	16	updated	update	VERB
ejpam-803	243	17	prior	prior	ADV
ejpam-803	243	18	to	to	ADP
ejpam-803	243	19	the	the	DET
ejpam-803	243	20	construction	construction	NOUN
ejpam-803	243	21	of	of	ADP
ejpam-803	243	22	each	each	DET
ejpam-803	243	23	new	new	ADJ
ejpam-803	243	24	forecast	forecast	NOUN
ejpam-803	243	25	for	for	ADP
ejpam-803	243	26	some	some	DET
ejpam-803	243	27	sequence	sequence	NOUN
ejpam-803	243	28	of	of	ADP
ejpam-803	243	29	e	e	X
ejpam-803	243	30	ex	ex	NOUN
ejpam-803	243	31	ante	ante	NOUN
ejpam-803	243	32	predictions	prediction	NOUN
ejpam-803	243	33	,	,	PUNCT
ejpam-803	243	34	then	then	ADV
ejpam-803	243	35	the	the	DET
ejpam-803	243	36	“	"	PUNCT
ejpam-803	243	37	first	first	ADJ
ejpam-803	243	38	stage	stage	NOUN
ejpam-803	243	39	”	"	PUNCT
ejpam-803	243	40	factor	factor	NOUN
ejpam-803	243	41	analysis	analysis	NOUN
ejpam-803	243	42	discussed	discuss	VERB
ejpam-803	243	43	above	above	ADV
ejpam-803	243	44	may	may	AUX
ejpam-803	243	45	yield	yield	VERB
ejpam-803	243	46	a	a	DET
ejpam-803	243	47	sequence	sequence	NOUN
ejpam-803	243	48	of	of	ADP
ejpam-803	243	49	e	e	NOUN
ejpam-803	243	50	different	different	ADJ
ejpam-803	243	51	vectors	vector	NOUN
ejpam-803	243	52	of	of	ADP
ejpam-803	243	53	factor	factor	NOUN
ejpam-803	243	54	proxies	proxy	NOUN
ejpam-803	243	55	.	.	PUNCT
ejpam-803	244	1	thus	thus	ADV
ejpam-803	244	2	,	,	PUNCT
ejpam-803	244	3	in	in	ADP
ejpam-803	244	4	addition	addition	NOUN
ejpam-803	244	5	to	to	ADP
ejpam-803	244	6	the	the	DET
ejpam-803	244	7	a	a	PROPN
ejpam-803	244	8	(	(	PUNCT
ejpam-803	244	9	j	j	NOUN
ejpam-803	244	10	)	)	PUNCT
ejpam-803	244	11	and	and	CCONJ
ejpam-803	244	12	m	m	PROPN
ejpam-803	244	13	(	(	PUNCT
ejpam-803	244	14	j	j	NOUN
ejpam-803	244	15	)	)	PUNCT
ejpam-803	244	16	proxy	proxy	NOUN
ejpam-803	244	17	selection	selection	NOUN
ejpam-803	244	18	methods	method	NOUN
ejpam-803	244	19	,	,	PUNCT
ejpam-803	244	20	we	we	PRON
ejpam-803	244	21	also	also	ADV
ejpam-803	244	22	consider	consider	VERB
ejpam-803	244	23	a	a	DET
ejpam-803	244	24	version	version	NOUN
ejpam-803	244	25	of	of	ADP
ejpam-803	244	26	these	these	DET
ejpam-803	244	27	methods	method	NOUN
ejpam-803	244	28	where	where	SCONJ
ejpam-803	244	29	the	the	DET
ejpam-803	244	30	sample	sample	NOUN
ejpam-803	244	31	period	period	NOUN
ejpam-803	244	32	in	in	ADP
ejpam-803	244	33	our	our	PRON
ejpam-803	244	34	empirical	empirical	ADJ
ejpam-803	244	35	analysis	analysis	NOUN
ejpam-803	244	36	is	be	AUX
ejpam-803	244	37	broken	break	VERB
ejpam-803	244	38	into	into	ADP
ejpam-803	244	39	‡note	‡note	PRON
ejpam-803	244	40	that	that	SCONJ
ejpam-803	244	41	we	we	PRON
ejpam-803	244	42	also	also	ADV
ejpam-803	244	43	considered	consider	VERB
ejpam-803	244	44	the	the	DET
ejpam-803	244	45	confidence	confidence	NOUN
ejpam-803	244	46	interval	interval	NOUN
ejpam-803	244	47	approach	approach	NOUN
ejpam-803	244	48	of	of	ADP
ejpam-803	244	49	[	[	X
ejpam-803	244	50	4	4	NUM
ejpam-803	244	51	]	]	PUNCT
ejpam-803	244	52	;	;	PUNCT
ejpam-803	244	53	but	but	CCONJ
ejpam-803	244	54	it	it	PRON
ejpam-803	244	55	did	do	AUX
ejpam-803	244	56	not	not	PART
ejpam-803	244	57	perform	perform	VERB
ejpam-803	244	58	better	well	ADJ
ejpam-803	244	59	than	than	ADP
ejpam-803	244	60	the	the	DET
ejpam-803	244	61	above	above	ADJ
ejpam-803	244	62	methods	method	NOUN
ejpam-803	244	63	.	.	PUNCT
ejpam-803	245	1	n.	n.	PROPN
ejpam-803	245	2	armah	armah	PROPN
ejpam-803	245	3	and	and	CCONJ
ejpam-803	245	4	n.	n.	PROPN
ejpam-803	245	5	swanson	swanson	PROPN
ejpam-803	245	6	/	/	SYM
ejpam-803	245	7	eur	eur	PROPN
ejpam-803	245	8	.	.	PUNCT
ejpam-803	246	1	j.	j.	PROPN
ejpam-803	246	2	pure	pure	PROPN
ejpam-803	246	3	appl	appl	PROPN
ejpam-803	246	4	.	.	PROPN
ejpam-803	246	5	math	math	PROPN
ejpam-803	246	6	,	,	PUNCT
ejpam-803	246	7	3	3	NUM
ejpam-803	246	8	(	(	PUNCT
ejpam-803	246	9	2010	2010	NUM
ejpam-803	246	10	)	)	PUNCT
ejpam-803	246	11	,	,	PUNCT
ejpam-803	246	12	478	478	NUM
ejpam-803	246	13	-	-	SYM
ejpam-803	246	14	501	501	NUM
ejpam-803	246	15	486	486	NUM
ejpam-803	246	16	three	three	NUM
ejpam-803	246	17	subsamples	subsample	NOUN
ejpam-803	246	18	(	(	PUNCT
ejpam-803	246	19	r1,r2	r1,r2	PROPN
ejpam-803	246	20	,	,	PUNCT
ejpam-803	246	21	and	and	CCONJ
ejpam-803	246	22	e	e	NOUN
ejpam-803	246	23	,	,	PUNCT
ejpam-803	246	24	such	such	ADJ
ejpam-803	246	25	that	that	SCONJ
ejpam-803	246	26	t	t	NOUN
ejpam-803	246	27	=	=	SYM
ejpam-803	246	28	r1	r1	PROPN
ejpam-803	246	29	+	+	CCONJ
ejpam-803	246	30	r2	r2	PROPN
ejpam-803	246	31	+	+	CCONJ
ejpam-803	246	32	e	e	NOUN
ejpam-803	246	33	)	)	PUNCT
ejpam-803	246	34	.	.	PUNCT
ejpam-803	247	1	the	the	DET
ejpam-803	247	2	first	first	ADJ
ejpam-803	247	3	subsample	subsample	NOUN
ejpam-803	247	4	is	be	AUX
ejpam-803	247	5	used	use	VERB
ejpam-803	247	6	to	to	PART
ejpam-803	247	7	estimate	estimate	VERB
ejpam-803	247	8	proxies	proxy	NOUN
ejpam-803	247	9	.	.	PUNCT
ejpam-803	248	1	thereafter	thereafter	ADV
ejpam-803	248	2	,	,	PUNCT
ejpam-803	248	3	one	one	NUM
ejpam-803	248	4	observation	observation	NOUN
ejpam-803	248	5	from	from	ADP
ejpam-803	248	6	r2	r2	PROPN
ejpam-803	248	7	is	be	AUX
ejpam-803	248	8	added	add	VERB
ejpam-803	248	9	,	,	PUNCT
ejpam-803	248	10	and	and	CCONJ
ejpam-803	248	11	this	this	DET
ejpam-803	248	12	new	new	ADJ
ejpam-803	248	13	larger	large	ADJ
ejpam-803	248	14	sample	sample	NOUN
ejpam-803	248	15	is	be	AUX
ejpam-803	248	16	used	use	VERB
ejpam-803	248	17	to	to	PART
ejpam-803	248	18	recursively	recursively	ADV
ejpam-803	248	19	select	select	VERB
ejpam-803	248	20	a	a	DET
ejpam-803	248	21	second	second	ADJ
ejpam-803	248	22	set	set	NOUN
ejpam-803	248	23	of	of	ADP
ejpam-803	248	24	factor	factor	NOUN
ejpam-803	248	25	proxies	proxy	NOUN
ejpam-803	248	26	.	.	PUNCT
ejpam-803	249	1	this	this	PRON
ejpam-803	249	2	is	be	AUX
ejpam-803	249	3	continued	continue	VERB
ejpam-803	249	4	until	until	SCONJ
ejpam-803	249	5	the	the	DET
ejpam-803	249	6	second	second	ADJ
ejpam-803	249	7	subsample	subsample	NOUN
ejpam-803	249	8	is	be	AUX
ejpam-803	249	9	exhausted	exhaust	VERB
ejpam-803	249	10	,	,	PUNCT
ejpam-803	249	11	yielding	yield	VERB
ejpam-803	249	12	a	a	DET
ejpam-803	249	13	sequence	sequence	NOUN
ejpam-803	249	14	of	of	ADP
ejpam-803	249	15	r2	r2	PROPN
ejpam-803	249	16	different	different	ADJ
ejpam-803	249	17	vectors	vector	NOUN
ejpam-803	249	18	of	of	ADP
ejpam-803	249	19	factor	factor	NOUN
ejpam-803	249	20	proxies	proxy	NOUN
ejpam-803	249	21	.	.	PUNCT
ejpam-803	250	1	individual	individual	ADJ
ejpam-803	250	2	proxies	proxy	NOUN
ejpam-803	250	3	are	be	AUX
ejpam-803	250	4	then	then	ADV
ejpam-803	250	5	ranked	rank	VERB
ejpam-803	250	6	according	accord	VERB
ejpam-803	250	7	to	to	ADP
ejpam-803	250	8	their	their	PRON
ejpam-803	250	9	selection	selection	NOUN
ejpam-803	250	10	frequency	frequency	NOUN
ejpam-803	250	11	,	,	PUNCT
ejpam-803	250	12	and	and	CCONJ
ejpam-803	250	13	those	those	PRON
ejpam-803	250	14	occurring	occur	VERB
ejpam-803	250	15	the	the	DET
ejpam-803	250	16	most	most	ADV
ejpam-803	250	17	frequently	frequently	ADV
ejpam-803	250	18	are	be	AUX
ejpam-803	250	19	selected	select	VERB
ejpam-803	250	20	and	and	CCONJ
ejpam-803	250	21	fixed	fix	VERB
ejpam-803	250	22	for	for	ADP
ejpam-803	250	23	further	further	ADJ
ejpam-803	250	24	use	use	NOUN
ejpam-803	250	25	in	in	ADP
ejpam-803	250	26	constructing	construct	VERB
ejpam-803	250	27	e	e	X
ejpam-803	250	28	ex	ex	NOUN
ejpam-803	250	29	ante	ante	NOUN
ejpam-803	250	30	predictions	prediction	NOUN
ejpam-803	250	31	.	.	PUNCT
ejpam-803	251	1	as	as	SCONJ
ejpam-803	251	2	some	some	PRON
ejpam-803	251	3	of	of	ADP
ejpam-803	251	4	our	our	PRON
ejpam-803	251	5	models	model	NOUN
ejpam-803	251	6	(	(	PUNCT
ejpam-803	251	7	such	such	ADJ
ejpam-803	251	8	as	as	ADP
ejpam-803	251	9	the	the	DET
ejpam-803	251	10	autoregressive	autoregressive	ADJ
ejpam-803	251	11	model	model	NOUN
ejpam-803	251	12	)	)	PUNCT
ejpam-803	251	13	select	select	VERB
ejpam-803	251	14	the	the	DET
ejpam-803	251	15	number	number	NOUN
ejpam-803	251	16	of	of	ADP
ejpam-803	251	17	lags	lag	NOUN
ejpam-803	251	18	and	and	CCONJ
ejpam-803	251	19	re	re	VERB
ejpam-803	251	20	-	-	VERB
ejpam-803	251	21	estimate	estimate	VERB
ejpam-803	251	22	all	all	DET
ejpam-803	251	23	parameters	parameter	NOUN
ejpam-803	251	24	prior	prior	ADV
ejpam-803	251	25	to	to	ADP
ejpam-803	251	26	the	the	DET
ejpam-803	251	27	formation	formation	NOUN
ejpam-803	251	28	of	of	ADP
ejpam-803	251	29	each	each	DET
ejpam-803	251	30	new	new	ADJ
ejpam-803	251	31	prediction	prediction	NOUN
ejpam-803	251	32	,	,	PUNCT
ejpam-803	251	33	this	this	DET
ejpam-803	251	34	smoothed	smooth	VERB
ejpam-803	251	35	approach	approach	NOUN
ejpam-803	251	36	is	be	AUX
ejpam-803	251	37	at	at	ADP
ejpam-803	251	38	a	a	DET
ejpam-803	251	39	disadvantage	disadvantage	NOUN
ejpam-803	251	40	,	,	PUNCT
ejpam-803	251	41	in	in	ADP
ejpam-803	251	42	the	the	DET
ejpam-803	251	43	sense	sense	NOUN
ejpam-803	251	44	that	that	SCONJ
ejpam-803	251	45	it	it	PRON
ejpam-803	251	46	is	be	AUX
ejpam-803	251	47	static	static	ADJ
ejpam-803	251	48	(	(	PUNCT
ejpam-803	251	49	i.e.	i.e.	X
ejpam-803	251	50	,	,	PUNCT
ejpam-803	251	51	the	the	DET
ejpam-803	251	52	set	set	NOUN
ejpam-803	251	53	of	of	ADP
ejpam-803	251	54	proxies	proxy	NOUN
ejpam-803	251	55	is	be	AUX
ejpam-803	251	56	fixed	fix	VERB
ejpam-803	251	57	throughout	throughout	ADP
ejpam-803	251	58	the	the	DET
ejpam-803	251	59	forecast	forecast	NOUN
ejpam-803	251	60	experiment	experiment	NOUN
ejpam-803	251	61	)	)	PUNCT
ejpam-803	251	62	.	.	PUNCT
ejpam-803	252	1	however	however	ADV
ejpam-803	252	2	,	,	PUNCT
ejpam-803	252	3	loading	load	VERB
ejpam-803	252	4	parameters	parameter	NOUN
ejpam-803	252	5	for	for	ADP
ejpam-803	252	6	the	the	DET
ejpam-803	252	7	proxies	proxy	NOUN
ejpam-803	252	8	are	be	AUX
ejpam-803	252	9	still	still	ADV
ejpam-803	252	10	re	re	VERB
ejpam-803	252	11	-	-	VERB
ejpam-803	252	12	estimated	estimate	VERB
ejpam-803	252	13	prior	prior	ADV
ejpam-803	252	14	to	to	ADP
ejpam-803	252	15	the	the	DET
ejpam-803	252	16	formation	formation	NOUN
ejpam-803	252	17	of	of	ADP
ejpam-803	252	18	each	each	DET
ejpam-803	252	19	new	new	ADJ
ejpam-803	252	20	recursive	recursive	ADJ
ejpam-803	252	21	prediction	prediction	NOUN
ejpam-803	252	22	.	.	PUNCT
ejpam-803	253	1	of	of	ADP
ejpam-803	253	2	course	course	NOUN
ejpam-803	253	3	,	,	PUNCT
ejpam-803	253	4	the	the	DET
ejpam-803	253	5	potential	potential	ADJ
ejpam-803	253	6	advantage	advantage	NOUN
ejpam-803	253	7	to	to	ADP
ejpam-803	253	8	this	this	DET
ejpam-803	253	9	approach	approach	NOUN
ejpam-803	253	10	is	be	AUX
ejpam-803	253	11	that	that	SCONJ
ejpam-803	253	12	noise	noise	NOUN
ejpam-803	253	13	across	across	ADP
ejpam-803	253	14	the	the	DET
ejpam-803	253	15	proxy	proxy	NOUN
ejpam-803	253	16	selection	selection	NOUN
ejpam-803	253	17	process	process	NOUN
ejpam-803	253	18	is	be	AUX
ejpam-803	253	19	suppressed	suppress	VERB
ejpam-803	253	20	.	.	PUNCT
ejpam-803	254	1	4	4	X
ejpam-803	254	2	.	.	X
ejpam-803	254	3	empirics	empiric	NOUN
ejpam-803	254	4	4.1	4.1	NUM
ejpam-803	254	5	.	.	PUNCT
ejpam-803	254	6	setup	setup	NOUN
ejpam-803	254	7	in	in	ADP
ejpam-803	254	8	order	order	NOUN
ejpam-803	254	9	to	to	PART
ejpam-803	254	10	assess	assess	VERB
ejpam-803	254	11	the	the	DET
ejpam-803	254	12	performance	performance	NOUN
ejpam-803	254	13	of	of	ADP
ejpam-803	254	14	factor	factor	NOUN
ejpam-803	254	15	proxy	proxy	NOUN
ejpam-803	254	16	based	base	VERB
ejpam-803	254	17	prediction	prediction	NOUN
ejpam-803	254	18	models	model	NOUN
ejpam-803	254	19	,	,	PUNCT
ejpam-803	254	20	[	[	X
ejpam-803	254	21	1	1	NUM
ejpam-803	254	22	]	]	PUNCT
ejpam-803	254	23	focus	focus	NOUN
ejpam-803	254	24	on	on	ADP
ejpam-803	254	25	direct	direct	ADJ
ejpam-803	254	26	multistep	multistep	ADJ
ejpam-803	254	27	-	-	PUNCT
ejpam-803	254	28	ahead	ahead	NOUN
ejpam-803	254	29	predictions	prediction	NOUN
ejpam-803	254	30	.	.	PUNCT
ejpam-803	255	1	forecasts	forecast	NOUN
ejpam-803	255	2	are	be	AUX
ejpam-803	255	3	generated	generate	VERB
ejpam-803	255	4	as	as	ADP
ejpam-803	255	5	h	h	NOUN
ejpam-803	255	6	-	-	PUNCT
ejpam-803	255	7	step	step	NOUN
ejpam-803	255	8	ahead	ahead	ADJ
ejpam-803	255	9	predictions	prediction	NOUN
ejpam-803	255	10	of	of	ADP
ejpam-803	255	11	yt	yt	PROPN
ejpam-803	255	12	,	,	PUNCT
ejpam-803	255	13	say	say	INTJ
ejpam-803	255	14	.	.	PUNCT
ejpam-803	256	1	namely	namely	ADV
ejpam-803	256	2	,	,	PUNCT
ejpam-803	256	3	they	they	PRON
ejpam-803	256	4	predict	predict	VERB
ejpam-803	256	5	yt+h	yt+h	NOUN
ejpam-803	256	6	=	=	PRON
ejpam-803	256	7	log	log	VERB
ejpam-803	256	8	�	�	PROPN
ejpam-803	256	9	yt+h	yt+h	PROPN
ejpam-803	256	10	yt+h−1	yt+h−1	PROPN
ejpam-803	256	11	�	�	PROPN
ejpam-803	256	12	,	,	PUNCT
ejpam-803	256	13	where	where	SCONJ
ejpam-803	256	14	yt	yt	PROPN
ejpam-803	256	15	is	be	AUX
ejpam-803	256	16	the	the	DET
ejpam-803	256	17	variable	variable	NOUN
ejpam-803	256	18	of	of	ADP
ejpam-803	256	19	interest	interest	NOUN
ejpam-803	256	20	.	.	PUNCT
ejpam-803	257	1	in	in	ADP
ejpam-803	257	2	the	the	DET
ejpam-803	257	3	appendix	appendix	NOUN
ejpam-803	257	4	,	,	PUNCT
ejpam-803	257	5	we	we	PRON
ejpam-803	257	6	provide	provide	VERB
ejpam-803	257	7	the	the	DET
ejpam-803	257	8	specifications	specification	NOUN
ejpam-803	257	9	and	and	CCONJ
ejpam-803	257	10	brief	brief	ADJ
ejpam-803	257	11	descriptions	description	NOUN
ejpam-803	257	12	of	of	ADP
ejpam-803	257	13	all	all	PRON
ejpam-803	257	14	of	of	ADP
ejpam-803	257	15	the	the	DET
ejpam-803	257	16	forecast	forecast	NOUN
ejpam-803	257	17	models	model	NOUN
ejpam-803	257	18	examined	examine	VERB
ejpam-803	257	19	.	.	PUNCT
ejpam-803	258	1	they	they	PRON
ejpam-803	258	2	consider	consider	VERB
ejpam-803	258	3	two	two	NUM
ejpam-803	258	4	classes	class	NOUN
ejpam-803	258	5	of	of	ADP
ejpam-803	258	6	proxy	proxy	NOUN
ejpam-803	258	7	forecast	forecast	NOUN
ejpam-803	258	8	models	model	NOUN
ejpam-803	258	9	.	.	PUNCT
ejpam-803	259	1	the	the	DET
ejpam-803	259	2	first	first	ADJ
ejpam-803	259	3	class	class	NOUN
ejpam-803	259	4	of	of	ADP
ejpam-803	259	5	models	model	NOUN
ejpam-803	259	6	,	,	PUNCT
ejpam-803	259	7	which	which	PRON
ejpam-803	259	8	are	be	AUX
ejpam-803	259	9	called	call	VERB
ejpam-803	259	10	“	"	PUNCT
ejpam-803	259	11	ordinary	ordinary	ADJ
ejpam-803	259	12	”	"	PUNCT
ejpam-803	259	13	proxy	proxy	ADJ
ejpam-803	259	14	forecast	forecast	NOUN
ejpam-803	259	15	models	model	NOUN
ejpam-803	259	16	,	,	PUNCT
ejpam-803	259	17	include	include	VERB
ejpam-803	259	18	model	model	NOUN
ejpam-803	259	19	4	4	NUM
ejpam-803	259	20	model	model	NOUN
ejpam-803	259	21	7	7	NUM
ejpam-803	259	22	.	.	PUNCT
ejpam-803	259	23	with	with	ADP
ejpam-803	259	24	these	these	DET
ejpam-803	259	25	models	model	NOUN
ejpam-803	259	26	,	,	PUNCT
ejpam-803	259	27	proxies	proxy	NOUN
ejpam-803	259	28	are	be	AUX
ejpam-803	259	29	re	re	VERB
ejpam-803	259	30	-	-	VERB
ejpam-803	259	31	selected	select	VERB
ejpam-803	259	32	recursively	recursively	NOUN
ejpam-803	259	33	,	,	PUNCT
ejpam-803	259	34	prior	prior	ADV
ejpam-803	259	35	to	to	ADP
ejpam-803	259	36	the	the	DET
ejpam-803	259	37	construction	construction	NOUN
ejpam-803	259	38	of	of	ADP
ejpam-803	259	39	each	each	DET
ejpam-803	259	40	h	h	NOUN
ejpam-803	259	41	-	-	PUNCT
ejpam-803	259	42	step	step	NOUN
ejpam-803	259	43	ahead	ahead	ADJ
ejpam-803	259	44	prediction	prediction	NOUN
ejpam-803	259	45	.	.	PUNCT
ejpam-803	260	1	let	let	VERB
ejpam-803	260	2	{	{	PUNCT
ejpam-803	260	3	a	a	PRON
ejpam-803	260	4	(	(	PUNCT
ejpam-803	260	5	j)}m	j)}m	NOUN
ejpam-803	260	6	j=1	j=1	NOUN
ejpam-803	260	7	,	,	PUNCT
ejpam-803	260	8	be	be	AUX
ejpam-803	260	9	a	a	DET
ejpam-803	260	10	set	set	NOUN
ejpam-803	260	11	of	of	ADP
ejpam-803	260	12	a	a	DET
ejpam-803	260	13	(	(	PUNCT
ejpam-803	260	14	j	j	NOUN
ejpam-803	260	15	)	)	PUNCT
ejpam-803	260	16	statistics	statistic	NOUN
ejpam-803	260	17	calculated	calculate	VERB
ejpam-803	260	18	for	for	ADP
ejpam-803	260	19	each	each	DET
ejpam-803	260	20	candidate	candidate	NOUN
ejpam-803	260	21	proxy	proxy	NOUN
ejpam-803	260	22	variable	variable	NOUN
ejpam-803	260	23	j.	j.	PROPN
ejpam-803	260	24	as	as	SCONJ
ejpam-803	260	25	suggested	suggest	VERB
ejpam-803	260	26	above	above	ADV
ejpam-803	260	27	,	,	PUNCT
ejpam-803	260	28	in	in	ADP
ejpam-803	260	29	this	this	DET
ejpam-803	260	30	particular	particular	ADJ
ejpam-803	260	31	paper	paper	NOUN
ejpam-803	260	32	,	,	PUNCT
ejpam-803	260	33	we	we	PRON
ejpam-803	260	34	set	set	VERB
ejpam-803	260	35	m	m	PROPN
ejpam-803	260	36	=	=	SYM
ejpam-803	260	37	n	n	ADJ
ejpam-803	260	38	;	;	PUNCT
ejpam-803	260	39	but	but	CCONJ
ejpam-803	260	40	this	this	PRON
ejpam-803	260	41	need	need	AUX
ejpam-803	260	42	not	not	PART
ejpam-803	260	43	always	always	ADV
ejpam-803	260	44	be	be	AUX
ejpam-803	260	45	the	the	DET
ejpam-803	260	46	case	case	NOUN
ejpam-803	260	47	.	.	PUNCT
ejpam-803	261	1	define	define	NOUN
ejpam-803	261	2	:	:	PUNCT
ejpam-803	261	3	sa	sa	PROPN
ejpam-803	261	4	=	=	PUNCT
ejpam-803	261	5	{	{	PUNCT
ejpam-803	261	6	ga	ga	PROPN
ejpam-803	261	7	j1	j1	PROPN
ejpam-803	261	8	,	,	PUNCT
ejpam-803	261	9	.	.	PUNCT
ejpam-803	261	10	.	.	PUNCT
ejpam-803	261	11	.	.	PUNCT
ejpam-803	262	1	,	,	PUNCT
ejpam-803	262	2	ga	ga	PROPN
ejpam-803	262	3	jbk	jbk	PROPN
ejpam-803	262	4	}	}	PUNCT
ejpam-803	262	5	(	(	PUNCT
ejpam-803	262	6	23	23	NUM
ejpam-803	262	7	)	)	PUNCT
ejpam-803	262	8	where	where	SCONJ
ejpam-803	262	9	bk	bk	VERB
ejpam-803	262	10	≤	≤	NOUN
ejpam-803	262	11	m	m	PRON
ejpam-803	262	12	and	and	CCONJ
ejpam-803	262	13	|a	|a	VERB
ejpam-803	262	14	�	�	PROPN
ejpam-803	262	15	j1	j1	PROPN
ejpam-803	262	16	�	�	PROPN
ejpam-803	262	17	−	−	ADP
ejpam-803	262	18	2ξ|	2ξ|	NUM
ejpam-803	262	19	≤	≤	NUM
ejpam-803	262	20	|a	|a	VERB
ejpam-803	262	21	�	�	PROPN
ejpam-803	262	22	j2	j2	PROPN
ejpam-803	262	23	�	�	PROPN
ejpam-803	262	24	−	−	PROPN
ejpam-803	262	25	2ξ|	2ξ|	NUM
ejpam-803	262	26	≤	≤	NUM
ejpam-803	262	27	.	.	PUNCT
ejpam-803	262	28	.	.	PUNCT
ejpam-803	262	29	.	.	PUNCT
ejpam-803	263	1	≤	≤	NUM
ejpam-803	263	2	|a	|a	VERB
ejpam-803	263	3	�	�	PROPN
ejpam-803	263	4	jbk	jbk	PROPN
ejpam-803	263	5	�	�	PROPN
ejpam-803	264	1	−	−	PROPN
ejpam-803	265	1	2ξ|	2ξ|	NUM
ejpam-803	265	2	.	.	PUNCT
ejpam-803	266	1	here	here	ADV
ejpam-803	266	2	,	,	PUNCT
ejpam-803	266	3	sa	sa	PROPN
ejpam-803	266	4	is	be	AUX
ejpam-803	266	5	the	the	DET
ejpam-803	266	6	set	set	NOUN
ejpam-803	266	7	of	of	ADP
ejpam-803	266	8	bk	bk	INTJ
ejpam-803	266	9	proxy	proxy	NOUN
ejpam-803	266	10	variables	variable	NOUN
ejpam-803	266	11	selected	select	VERB
ejpam-803	266	12	via	via	ADP
ejpam-803	266	13	implementation	implementation	NOUN
ejpam-803	266	14	of	of	ADP
ejpam-803	266	15	the	the	DET
ejpam-803	266	16	a	a	PROPN
ejpam-803	266	17	(	(	PUNCT
ejpam-803	266	18	j	j	NOUN
ejpam-803	266	19	)	)	PUNCT
ejpam-803	266	20	test	test	NOUN
ejpam-803	266	21	.	.	PUNCT
ejpam-803	267	1	further	far	ADV
ejpam-803	267	2	,	,	PUNCT
ejpam-803	267	3	define	define	VERB
ejpam-803	267	4	ga	ga	PROPN
ejpam-803	267	5	j1	j1	PROPN
ejpam-803	267	6	as	as	ADP
ejpam-803	267	7	the	the	DET
ejpam-803	267	8	“	"	PUNCT
ejpam-803	267	9	best	good	ADJ
ejpam-803	267	10	”	"	PUNCT
ejpam-803	267	11	possible	possible	ADJ
ejpam-803	267	12	proxy	proxy	NOUN
ejpam-803	267	13	as	as	SCONJ
ejpam-803	267	14	determined	determine	VERB
ejpam-803	267	15	by	by	ADP
ejpam-803	267	16	the	the	DET
ejpam-803	267	17	a	a	PROPN
ejpam-803	267	18	(	(	PUNCT
ejpam-803	267	19	j	j	NOUN
ejpam-803	267	20	)	)	PUNCT
ejpam-803	267	21	while	while	SCONJ
ejpam-803	267	22	ga	ga	PROPN
ejpam-803	267	23	j2	j2	PROPN
ejpam-803	267	24	is	be	AUX
ejpam-803	267	25	the	the	DET
ejpam-803	267	26	next	next	ADJ
ejpam-803	267	27	“	"	PUNCT
ejpam-803	267	28	best	good	ADJ
ejpam-803	267	29	”	"	PUNCT
ejpam-803	267	30	proxy	proxy	NOUN
ejpam-803	267	31	,	,	PUNCT
ejpam-803	267	32	and	and	CCONJ
ejpam-803	267	33	so	so	ADV
ejpam-803	267	34	on	on	ADV
ejpam-803	267	35	.	.	PUNCT
ejpam-803	268	1	recall	recall	VERB
ejpam-803	268	2	that	that	SCONJ
ejpam-803	268	3	g	g	PROPN
ejpam-803	268	4	j	j	PROPN
ejpam-803	268	5	is	be	AUX
ejpam-803	268	6	an	an	DET
ejpam-803	268	7	observable	observable	ADJ
ejpam-803	268	8	time	time	NOUN
ejpam-803	268	9	series	series	PROPN
ejpam-803	268	10	variable	variable	NOUN
ejpam-803	268	11	,	,	PUNCT
ejpam-803	268	12	such	such	ADJ
ejpam-803	268	13	as	as	ADP
ejpam-803	268	14	the	the	DET
ejpam-803	268	15	cpi	cpi	NOUN
ejpam-803	268	16	or	or	CCONJ
ejpam-803	268	17	the	the	DET
ejpam-803	268	18	federal	federal	ADJ
ejpam-803	268	19	funds	fund	NOUN
ejpam-803	268	20	rate	rate	NOUN
ejpam-803	268	21	.	.	PUNCT
ejpam-803	269	1	turning	turn	VERB
ejpam-803	269	2	next	next	ADV
ejpam-803	269	3	to	to	ADP
ejpam-803	269	4	proxies	proxy	NOUN
ejpam-803	269	5	selected	select	VERB
ejpam-803	269	6	via	via	ADP
ejpam-803	269	7	implementation	implementation	NOUN
ejpam-803	269	8	of	of	ADP
ejpam-803	269	9	the	the	DET
ejpam-803	269	10	m	m	PROPN
ejpam-803	269	11	(	(	PUNCT
ejpam-803	269	12	j	j	NOUN
ejpam-803	269	13	)	)	PUNCT
ejpam-803	269	14	test	test	NOUN
ejpam-803	269	15	,	,	PUNCT
ejpam-803	269	16	define	define	VERB
ejpam-803	269	17	:	:	PUNCT
ejpam-803	269	18	sm	sm	PROPN
ejpam-803	269	19	=	=	PUNCT
ejpam-803	269	20	{	{	PUNCT
ejpam-803	269	21	g	g	NOUN
ejpam-803	269	22	j	j	PROPN
ejpam-803	269	23	∈	∈	PROPN
ejpam-803	269	24	g	g	PROPN
ejpam-803	270	1	|	|	ADV
ejpam-803	270	2	m	m	VERB
ejpam-803	270	3	(	(	PUNCT
ejpam-803	270	4	j)≤	j)≤	NOUN
ejpam-803	270	5	x	x	X
ejpam-803	270	6	}	}	PUNCT
ejpam-803	270	7	,	,	PUNCT
ejpam-803	270	8	j	j	PROPN
ejpam-803	270	9	=	=	SYM
ejpam-803	270	10	1	1	NUM
ejpam-803	270	11	,	,	PUNCT
ejpam-803	270	12	.	.	PUNCT
ejpam-803	270	13	.	.	PUNCT
ejpam-803	271	1	.	.	PUNCT
ejpam-803	272	1	,	,	PUNCT
ejpam-803	272	2	m.	m.	NOUN
ejpam-803	272	3	here	here	ADV
ejpam-803	272	4	,	,	PUNCT
ejpam-803	272	5	sm	sm	PROPN
ejpam-803	272	6	is	be	AUX
ejpam-803	272	7	a	a	DET
ejpam-803	272	8	set	set	NOUN
ejpam-803	272	9	of	of	ADP
ejpam-803	272	10	proxies	proxy	NOUN
ejpam-803	272	11	selected	select	VERB
ejpam-803	272	12	by	by	ADP
ejpam-803	272	13	the	the	DET
ejpam-803	272	14	m	m	PROPN
ejpam-803	272	15	(	(	PUNCT
ejpam-803	272	16	j	j	NOUN
ejpam-803	272	17	)	)	PUNCT
ejpam-803	272	18	test	test	NOUN
ejpam-803	272	19	.	.	PUNCT
ejpam-803	273	1	the	the	DET
ejpam-803	273	2	number	number	NOUN
ejpam-803	273	3	of	of	ADP
ejpam-803	273	4	proxy	proxy	NOUN
ejpam-803	273	5	variables	variable	NOUN
ejpam-803	273	6	selected	select	VERB
ejpam-803	273	7	at	at	ADP
ejpam-803	273	8	each	each	DET
ejpam-803	273	9	recursive	recursive	ADJ
ejpam-803	273	10	stage	stage	NOUN
ejpam-803	273	11	is	be	AUX
ejpam-803	273	12	indeterminate	indeterminate	ADJ
ejpam-803	273	13	.	.	PUNCT
ejpam-803	274	1	furthermore	furthermore	ADV
ejpam-803	274	2	,	,	PUNCT
ejpam-803	274	3	the	the	DET
ejpam-803	274	4	selected	select	VERB
ejpam-803	274	5	proxies	proxy	NOUN
ejpam-803	274	6	are	be	AUX
ejpam-803	274	7	not	not	PART
ejpam-803	274	8	ranked	rank	VERB
ejpam-803	274	9	.	.	PUNCT
ejpam-803	275	1	for	for	ADP
ejpam-803	275	2	model	model	NOUN
ejpam-803	275	3	6	6	NUM
ejpam-803	275	4	,	,	PUNCT
ejpam-803	275	5	where	where	SCONJ
ejpam-803	275	6	the	the	DET
ejpam-803	275	7	m	m	PROPN
ejpam-803	275	8	(	(	PUNCT
ejpam-803	275	9	j	j	NOUN
ejpam-803	275	10	)	)	PUNCT
ejpam-803	275	11	test	test	NOUN
ejpam-803	275	12	is	be	AUX
ejpam-803	275	13	used	use	VERB
ejpam-803	275	14	to	to	PART
ejpam-803	275	15	select	select	VERB
ejpam-803	275	16	a	a	DET
ejpam-803	275	17	single	single	ADJ
ejpam-803	275	18	proxy	proxy	NOUN
ejpam-803	275	19	,	,	PUNCT
ejpam-803	275	20	our	our	PRON
ejpam-803	275	21	approach	approach	NOUN
ejpam-803	275	22	is	be	AUX
ejpam-803	275	23	to	to	PART
ejpam-803	275	24	select	select	VERB
ejpam-803	275	25	the	the	DET
ejpam-803	275	26	proxy	proxy	NOUN
ejpam-803	275	27	in	in	ADP
ejpam-803	275	28	the	the	DET
ejpam-803	275	29	set	set	NOUN
ejpam-803	275	30	sm	sm	INTJ
ejpam-803	275	31	that	that	PRON
ejpam-803	275	32	is	be	AUX
ejpam-803	275	33	associated	associate	VERB
ejpam-803	275	34	with	with	ADP
ejpam-803	275	35	the	the	DET
ejpam-803	275	36	smallest	small	ADJ
ejpam-803	275	37	value	value	NOUN
ejpam-803	275	38	of	of	ADP
ejpam-803	275	39	m	m	PROPN
ejpam-803	275	40	(	(	PUNCT
ejpam-803	275	41	j	j	PROPN
ejpam-803	275	42	)	)	PUNCT
ejpam-803	275	43	.	.	PUNCT
ejpam-803	276	1	the	the	DET
ejpam-803	276	2	second	second	ADJ
ejpam-803	276	3	class	class	NOUN
ejpam-803	276	4	of	of	ADP
ejpam-803	276	5	models	model	NOUN
ejpam-803	276	6	,	,	PUNCT
ejpam-803	276	7	which	which	PRON
ejpam-803	276	8	are	be	AUX
ejpam-803	276	9	called	call	VERB
ejpam-803	276	10	“	"	PUNCT
ejpam-803	276	11	smoothed	smooth	VERB
ejpam-803	276	12	”	"	PUNCT
ejpam-803	276	13	proxy	proxy	NOUN
ejpam-803	276	14	forecast	forecast	NOUN
ejpam-803	276	15	models	model	NOUN
ejpam-803	276	16	include	include	VERB
ejpam-803	276	17	model	model	NOUN
ejpam-803	276	18	8	8	NUM
ejpam-803	276	19	model	model	NOUN
ejpam-803	276	20	15	15	NUM
ejpam-803	276	21	.	.	PUNCT
ejpam-803	277	1	here	here	ADV
ejpam-803	277	2	,	,	PUNCT
ejpam-803	277	3	the	the	DET
ejpam-803	277	4	factors	factor	NOUN
ejpam-803	277	5	and	and	CCONJ
ejpam-803	277	6	the	the	DET
ejpam-803	277	7	proxies	proxy	NOUN
ejpam-803	277	8	are	be	AUX
ejpam-803	277	9	estimated	estimate	VERB
ejpam-803	277	10	recursively	recursively	ADV
ejpam-803	277	11	,	,	PUNCT
ejpam-803	277	12	just	just	ADV
ejpam-803	277	13	as	as	ADP
ejpam-803	277	14	n.	n.	PROPN
ejpam-803	277	15	armah	armah	PROPN
ejpam-803	277	16	and	and	CCONJ
ejpam-803	277	17	n.	n.	PROPN
ejpam-803	277	18	swanson	swanson	PROPN
ejpam-803	277	19	/	/	SYM
ejpam-803	277	20	eur	eur	PROPN
ejpam-803	277	21	.	.	PUNCT
ejpam-803	278	1	j.	j.	PROPN
ejpam-803	278	2	pure	pure	PROPN
ejpam-803	278	3	appl	appl	PROPN
ejpam-803	278	4	.	.	PROPN
ejpam-803	278	5	math	math	PROPN
ejpam-803	278	6	,	,	PUNCT
ejpam-803	278	7	3	3	NUM
ejpam-803	278	8	(	(	PUNCT
ejpam-803	278	9	2010	2010	NUM
ejpam-803	278	10	)	)	PUNCT
ejpam-803	278	11	,	,	PUNCT
ejpam-803	278	12	478	478	NUM
ejpam-803	278	13	-	-	SYM
ejpam-803	278	14	501	501	NUM
ejpam-803	278	15	487	487	NUM
ejpam-803	278	16	in	in	ADP
ejpam-803	278	17	models	model	NOUN
ejpam-803	278	18	1	1	NUM
ejpam-803	278	19	,	,	PUNCT
ejpam-803	278	20	4	4	NUM
ejpam-803	278	21	-	-	SYM
ejpam-803	278	22	7	7	NUM
ejpam-803	278	23	,	,	PUNCT
ejpam-803	278	24	but	but	CCONJ
ejpam-803	278	25	this	this	PRON
ejpam-803	278	26	is	be	AUX
ejpam-803	278	27	done	do	VERB
ejpam-803	278	28	starting	start	VERB
ejpam-803	278	29	with	with	ADP
ejpam-803	278	30	r1	r1	NOUN
ejpam-803	278	31	observations	observation	NOUN
ejpam-803	278	32	and	and	CCONJ
ejpam-803	278	33	ending	end	VERB
ejpam-803	278	34	with	with	ADP
ejpam-803	278	35	r1	r1	PROPN
ejpam-803	278	36	+	+	CCONJ
ejpam-803	278	37	r2	r2	PROPN
ejpam-803	278	38	observations	observation	NOUN
ejpam-803	278	39	.	.	PUNCT
ejpam-803	279	1	the	the	DET
ejpam-803	279	2	“	"	PUNCT
ejpam-803	279	3	smoothed	smooth	VERB
ejpam-803	279	4	”	"	PUNCT
ejpam-803	279	5	proxies	proxy	NOUN
ejpam-803	279	6	are	be	AUX
ejpam-803	279	7	selected	select	VERB
ejpam-803	279	8	as	as	ADP
ejpam-803	279	9	the	the	DET
ejpam-803	279	10	bk	bk	NOUN
ejpam-803	279	11	proxies	proxy	NOUN
ejpam-803	279	12	that	that	PRON
ejpam-803	279	13	are	be	AUX
ejpam-803	279	14	“	"	PUNCT
ejpam-803	279	15	most	most	ADV
ejpam-803	279	16	frequently	frequently	ADV
ejpam-803	279	17	”	"	PUNCT
ejpam-803	279	18	picked	pick	VERB
ejpam-803	279	19	by	by	ADP
ejpam-803	279	20	the	the	DET
ejpam-803	279	21	a	a	PROPN
ejpam-803	279	22	(	(	PUNCT
ejpam-803	279	23	j	j	NOUN
ejpam-803	279	24	)	)	PUNCT
ejpam-803	279	25	and	and	CCONJ
ejpam-803	279	26	m	m	PROPN
ejpam-803	279	27	(	(	PUNCT
ejpam-803	279	28	j	j	NOUN
ejpam-803	279	29	)	)	PUNCT
ejpam-803	279	30	tests	test	NOUN
ejpam-803	279	31	.	.	PUNCT
ejpam-803	280	1	thereafter	thereafter	ADV
ejpam-803	280	2	,	,	PUNCT
ejpam-803	280	3	all	all	DET
ejpam-803	280	4	proxies	proxy	NOUN
ejpam-803	280	5	are	be	AUX
ejpam-803	280	6	fixed	fix	VERB
ejpam-803	280	7	,	,	PUNCT
ejpam-803	280	8	although	although	SCONJ
ejpam-803	280	9	their	their	PRON
ejpam-803	280	10	“	"	PUNCT
ejpam-803	280	11	weights	weight	NOUN
ejpam-803	280	12	”	"	PUNCT
ejpam-803	280	13	in	in	ADP
ejpam-803	280	14	the	the	DET
ejpam-803	280	15	prediction	prediction	NOUN
ejpam-803	280	16	models	model	NOUN
ejpam-803	280	17	are	be	AUX
ejpam-803	280	18	still	still	ADV
ejpam-803	280	19	re	re	ADJ
ejpam-803	280	20	-	-	VERB
ejpam-803	280	21	estimated	estimate	VERB
ejpam-803	280	22	recursively	recursively	NOUN
ejpam-803	280	23	,	,	PUNCT
ejpam-803	280	24	prior	prior	ADV
ejpam-803	280	25	to	to	ADP
ejpam-803	280	26	the	the	DET
ejpam-803	280	27	construction	construction	NOUN
ejpam-803	280	28	of	of	ADP
ejpam-803	280	29	each	each	PRON
ejpam-803	280	30	of	of	ADP
ejpam-803	280	31	the	the	DET
ejpam-803	280	32	e	e	PROPN
ejpam-803	280	33	ex	ex	NOUN
ejpam-803	280	34	-	-	NOUN
ejpam-803	280	35	ante	ante	NOUN
ejpam-803	280	36	forecasts	forecast	NOUN
ejpam-803	280	37	.	.	PUNCT
ejpam-803	281	1	to	to	PART
ejpam-803	281	2	differentiate	differentiate	VERB
ejpam-803	281	3	between	between	ADP
ejpam-803	281	4	proxies	proxy	NOUN
ejpam-803	281	5	picked	pick	VERB
ejpam-803	281	6	using	use	VERB
ejpam-803	281	7	the	the	DET
ejpam-803	281	8	“	"	PUNCT
ejpam-803	281	9	ordinary	ordinary	ADJ
ejpam-803	281	10	”	"	PUNCT
ejpam-803	281	11	and	and	CCONJ
ejpam-803	281	12	“	"	PUNCT
ejpam-803	281	13	smoothed	smooth	VERB
ejpam-803	281	14	”	"	PUNCT
ejpam-803	281	15	versions	version	NOUN
ejpam-803	281	16	of	of	ADP
ejpam-803	281	17	the	the	DET
ejpam-803	281	18	tests	test	NOUN
ejpam-803	281	19	,	,	PUNCT
ejpam-803	281	20	we	we	PRON
ejpam-803	281	21	define	define	VERB
ejpam-803	281	22	sa∗	sa∗	NOUN
ejpam-803	281	23	and	and	CCONJ
ejpam-803	281	24	sm∗	sm∗	ADJ
ejpam-803	281	25	to	to	PART
ejpam-803	281	26	be	be	AUX
ejpam-803	281	27	the	the	DET
ejpam-803	281	28	“	"	PUNCT
ejpam-803	281	29	smoothed	smooth	VERB
ejpam-803	281	30	”	"	PUNCT
ejpam-803	281	31	versions	version	NOUN
ejpam-803	281	32	of	of	ADP
ejpam-803	281	33	sa	sa	NOUN
ejpam-803	281	34	and	and	CCONJ
ejpam-803	281	35	sm	sm	PROPN
ejpam-803	281	36	.	.	PUNCT
ejpam-803	282	1	the	the	DET
ejpam-803	282	2	ex	ex	ADJ
ejpam-803	282	3	-	-	ADJ
ejpam-803	282	4	ante	ante	ADJ
ejpam-803	282	5	prediction	prediction	NOUN
ejpam-803	282	6	period	period	NOUN
ejpam-803	282	7	,	,	PUNCT
ejpam-803	282	8	e	e	NOUN
ejpam-803	282	9	,	,	PUNCT
ejpam-803	282	10	is	be	AUX
ejpam-803	282	11	the	the	DET
ejpam-803	282	12	same	same	ADJ
ejpam-803	282	13	for	for	ADP
ejpam-803	282	14	all	all	DET
ejpam-803	282	15	models	model	NOUN
ejpam-803	282	16	in	in	ADP
ejpam-803	282	17	our	our	PRON
ejpam-803	282	18	empirical	empirical	ADJ
ejpam-803	282	19	experiments	experiment	NOUN
ejpam-803	282	20	.	.	PUNCT
ejpam-803	283	1	in	in	ADP
ejpam-803	283	2	order	order	NOUN
ejpam-803	283	3	to	to	PART
ejpam-803	283	4	evaluate	evaluate	VERB
ejpam-803	283	5	forecast	forecast	NOUN
ejpam-803	283	6	performance	performance	NOUN
ejpam-803	283	7	,	,	PUNCT
ejpam-803	283	8	the	the	DET
ejpam-803	283	9	authors	author	NOUN
ejpam-803	283	10	compare	compare	VERB
ejpam-803	283	11	mean	mean	NOUN
ejpam-803	283	12	squared	square	VERB
ejpam-803	283	13	forecast	forecast	NOUN
ejpam-803	283	14	errors	error	NOUN
ejpam-803	283	15	(	(	PUNCT
ejpam-803	283	16	msfes	msfe	NOUN
ejpam-803	283	17	)	)	PUNCT
ejpam-803	283	18	defined	define	VERB
ejpam-803	283	19	as	as	ADP
ejpam-803	283	20	1	1	NUM
ejpam-803	283	21	e	e	PROPN
ejpam-803	283	22	∑t−h	∑t−h	PROPN
ejpam-803	283	23	t	t	PROPN
ejpam-803	283	24	=	=	SYM
ejpam-803	283	25	r−h+1	r−h+1	PROPN
ejpam-803	283	26	�	�	PROPN
ejpam-803	283	27	byt+h−	byt+h−	NOUN
ejpam-803	283	28	yt+h	yt+h	SYM
ejpam-803	283	29	�	�	PROPN
ejpam-803	283	30	2	2	NUM
ejpam-803	283	31	,	,	PUNCT
ejpam-803	283	32	where	where	SCONJ
ejpam-803	283	33	r	r	NOUN
ejpam-803	283	34	=	=	SYM
ejpam-803	283	35	r1	r1	NOUN
ejpam-803	283	36	+	+	CCONJ
ejpam-803	283	37	r2	r2	NOUN
ejpam-803	283	38	.	.	PUNCT
ejpam-803	284	1	they	they	PRON
ejpam-803	284	2	also	also	ADV
ejpam-803	284	3	carry	carry	VERB
ejpam-803	284	4	out	out	ADP
ejpam-803	284	5	[	[	X
ejpam-803	284	6	9	9	NUM
ejpam-803	284	7	]	]	X
ejpam-803	284	8	predictive	predictive	ADJ
ejpam-803	284	9	accuracy	accuracy	NOUN
ejpam-803	284	10	tests	test	NOUN
ejpam-803	284	11	.	.	PUNCT
ejpam-803	285	1	let	let	VERB
ejpam-803	285	2	{	{	PUNCT
ejpam-803	285	3	by1,t}t−h	by1,t}t−h	NOUN
ejpam-803	285	4	t	t	PROPN
ejpam-803	285	5	=	=	SYM
ejpam-803	285	6	r−h+1	r−h+1	PROPN
ejpam-803	285	7	and	and	CCONJ
ejpam-803	285	8	{	{	PUNCT
ejpam-803	285	9	by2,t}t−h	by2,t}t−h	PROPN
ejpam-803	285	10	t	t	PROPN
ejpam-803	285	11	=	=	SYM
ejpam-803	285	12	r−h+1	r−h+1	PROPN
ejpam-803	285	13	be	be	VERB
ejpam-803	285	14	two	two	NUM
ejpam-803	285	15	forecasts	forecast	NOUN
ejpam-803	285	16	of	of	ADP
ejpam-803	285	17	the	the	DET
ejpam-803	285	18	time	time	NOUN
ejpam-803	285	19	series	series	PROPN
ejpam-803	285	20	{	{	PUNCT
ejpam-803	285	21	yt}t−h	yt}t−h	NOUN
ejpam-803	285	22	t	t	PROPN
ejpam-803	285	23	=	=	SYM
ejpam-803	285	24	r−h+1	r−h+1	PROPN
ejpam-803	285	25	.	.	PUNCT
ejpam-803	286	1	the	the	DET
ejpam-803	286	2	“	"	PUNCT
ejpam-803	286	3	benchmark	benchmark	NOUN
ejpam-803	286	4	”	"	PUNCT
ejpam-803	286	5	is	be	AUX
ejpam-803	286	6	model	model	NOUN
ejpam-803	286	7	1	1	NUM
ejpam-803	286	8	(	(	PUNCT
ejpam-803	286	9	i.e.	i.e.	X
ejpam-803	286	10	,	,	PUNCT
ejpam-803	286	11	the	the	DET
ejpam-803	286	12	factor	factor	NOUN
ejpam-803	286	13	model	model	NOUN
ejpam-803	286	14	)	)	PUNCT
ejpam-803	286	15	,	,	PUNCT
ejpam-803	286	16	and	and	CCONJ
ejpam-803	286	17	is	be	AUX
ejpam-803	286	18	used	use	VERB
ejpam-803	286	19	to	to	PART
ejpam-803	286	20	generate	generate	VERB
ejpam-803	286	21	{	{	PUNCT
ejpam-803	286	22	by1,t}t−h	by1,t}t−h	NOUN
ejpam-803	286	23	t	t	NOUN
ejpam-803	286	24	=	=	NOUN
ejpam-803	286	25	r−h+1	r−h+1	PROPN
ejpam-803	286	26	,	,	PUNCT
ejpam-803	286	27	while	while	SCONJ
ejpam-803	286	28	models	model	NOUN
ejpam-803	286	29	2	2	NUM
ejpam-803	286	30	-	-	SYM
ejpam-803	286	31	15	15	NUM
ejpam-803	286	32	are	be	AUX
ejpam-803	286	33	used	use	VERB
ejpam-803	286	34	to	to	PART
ejpam-803	286	35	generate	generate	VERB
ejpam-803	286	36	{	{	PUNCT
ejpam-803	286	37	by2,t}t−h	by2,t}t−h	NOUN
ejpam-803	286	38	t	t	NOUN
ejpam-803	286	39	=	=	NOUN
ejpam-803	286	40	r−h+1	r−h+1	PROPN
ejpam-803	286	41	.	.	PUNCT
ejpam-803	287	1	since	since	SCONJ
ejpam-803	287	2	the	the	PRON
ejpam-803	287	3	“	"	PUNCT
ejpam-803	287	4	benchmark	benchmark	NOUN
ejpam-803	287	5	”	"	PUNCT
ejpam-803	287	6	contains	contain	VERB
ejpam-803	287	7	estimated	estimate	VERB
ejpam-803	287	8	factors	factor	NOUN
ejpam-803	287	9	and	and	CCONJ
ejpam-803	287	10	the	the	DET
ejpam-803	287	11	alternative	alternative	ADJ
ejpam-803	287	12	models	model	NOUN
ejpam-803	287	13	contain	contain	VERB
ejpam-803	287	14	no	no	DET
ejpam-803	287	15	estimated	estimate	VERB
ejpam-803	287	16	factors	factor	NOUN
ejpam-803	287	17	,	,	PUNCT
ejpam-803	287	18	the	the	DET
ejpam-803	287	19	“	"	PUNCT
ejpam-803	287	20	benchmark	benchmark	NOUN
ejpam-803	287	21	”	"	PUNCT
ejpam-803	287	22	and	and	CCONJ
ejpam-803	287	23	alternative	alternative	ADJ
ejpam-803	287	24	models	model	NOUN
ejpam-803	287	25	are	be	AUX
ejpam-803	287	26	non	non	ADJ
ejpam-803	287	27	-	-	ADJ
ejpam-803	287	28	nested	nested	ADJ
ejpam-803	287	29	.	.	PUNCT
ejpam-803	288	1	the	the	DET
ejpam-803	288	2	corresponding	corresponding	ADJ
ejpam-803	288	3	outof	outof	PROPN
ejpam-803	288	4	-	-	PUNCT
ejpam-803	288	5	sample	sample	NOUN
ejpam-803	288	6	forecast	forecast	NOUN
ejpam-803	288	7	errors	error	NOUN
ejpam-803	288	8	are	be	AUX
ejpam-803	288	9	{	{	PUNCT
ejpam-803	288	10	bǫ1,t}t−h	bǫ1,t}t−h	NOUN
ejpam-803	288	11	t	t	PROPN
ejpam-803	288	12	=	=	SYM
ejpam-803	288	13	r−h+1	r−h+1	PROPN
ejpam-803	288	14	and	and	CCONJ
ejpam-803	288	15	{	{	PUNCT
ejpam-803	288	16	bǫ2,t}t−h	bǫ2,t}t−h	NOUN
ejpam-803	288	17	t	t	PROPN
ejpam-803	288	18	=	=	SYM
ejpam-803	288	19	r−h+1	r−h+1	PROPN
ejpam-803	288	20	.	.	PUNCT
ejpam-803	289	1	the	the	DET
ejpam-803	289	2	null	null	ADJ
ejpam-803	289	3	hypothesis	hypothesis	NOUN
ejpam-803	289	4	of	of	ADP
ejpam-803	289	5	equal	equal	ADJ
ejpam-803	289	6	forecast	forecast	NOUN
ejpam-803	289	7	accuracy	accuracy	NOUN
ejpam-803	289	8	for	for	ADP
ejpam-803	289	9	two	two	NUM
ejpam-803	289	10	forecasts	forecast	NOUN
ejpam-803	289	11	is	be	AUX
ejpam-803	289	12	given	give	VERB
ejpam-803	289	13	by	by	ADP
ejpam-803	289	14	h0	h0	NOUN
ejpam-803	289	15	:	:	PUNCT
ejpam-803	289	16	e[bǫ2	e[bǫ2	PROPN
ejpam-803	289	17	1,t	1,t	NUM
ejpam-803	289	18	]	]	PUNCT
ejpam-803	289	19	=	=	SYM
ejpam-803	289	20	e[bǫ2	e[bǫ2	X
ejpam-803	289	21	2,t	2,t	NOUN
ejpam-803	289	22	]	]	PUNCT
ejpam-803	289	23	or	or	CCONJ
ejpam-803	289	24	h0	h0	NOUN
ejpam-803	289	25	:	:	PUNCT
ejpam-803	289	26	e[bdt	e[bdt	NOUN
ejpam-803	289	27	]	]	PUNCT
ejpam-803	289	28	=	=	SYM
ejpam-803	289	29	0,where	0,where	ADP
ejpam-803	289	30	bdt	bdt	NOUN
ejpam-803	289	31	=	=	SYM
ejpam-803	289	32	bǫ2	bǫ2	PROPN
ejpam-803	289	33	1,t	1,t	NOUN
ejpam-803	289	34	−	−	NOUN
ejpam-803	289	35	bǫ2	bǫ2	PROPN
ejpam-803	289	36	2,t	2,t	PROPN
ejpam-803	289	37	is	be	AUX
ejpam-803	289	38	the	the	DET
ejpam-803	289	39	loss	loss	NOUN
ejpam-803	289	40	differential	differential	NOUN
ejpam-803	289	41	series	series	NOUN
ejpam-803	289	42	.	.	PUNCT
ejpam-803	290	1	the	the	DET
ejpam-803	290	2	dm	dm	PROPN
ejpam-803	290	3	test	test	NOUN
ejpam-803	290	4	statistic	statistic	NOUN
ejpam-803	290	5	is	be	AUX
ejpam-803	290	6	dm	dm	PROPN
ejpam-803	290	7	=	=	PUNCT
ejpam-803	290	8	e−1/2	e−1/2	PROPN
ejpam-803	290	9	dæ	dæ	ADP
ejpam-803	290	10	bσ2	bσ2	PROPN
ejpam-803	291	1	d	d	PROPN
ejpam-803	291	2	,	,	PUNCT
ejpam-803	291	3	where	where	SCONJ
ejpam-803	291	4	d	d	NOUN
ejpam-803	291	5	=	=	SYM
ejpam-803	291	6	1	1	NUM
ejpam-803	291	7	e	e	PROPN
ejpam-803	291	8	∑t−h	∑t−h	PROPN
ejpam-803	291	9	t	t	PROPN
ejpam-803	291	10	=	=	SYM
ejpam-803	291	11	r−h+1	r−h+1	PROPN
ejpam-803	291	12	bdt	bdt	NOUN
ejpam-803	291	13	,	,	PUNCT
ejpam-803	291	14	and	and	CCONJ
ejpam-803	292	1	bσ2	bσ2	PROPN
ejpam-803	292	2	d	d	NOUN
ejpam-803	292	3	is	be	AUX
ejpam-803	292	4	a	a	DET
ejpam-803	292	5	hac	hac	NOUN
ejpam-803	292	6	standard	standard	ADJ
ejpam-803	292	7	error	error	NOUN
ejpam-803	292	8	for	for	ADP
ejpam-803	292	9	bdt	bdt	NOUN
ejpam-803	292	10	.	.	PUNCT
ejpam-803	293	1	since	since	SCONJ
ejpam-803	293	2	the	the	DET
ejpam-803	293	3	forecast	forecast	NOUN
ejpam-803	293	4	models	model	NOUN
ejpam-803	293	5	are	be	AUX
ejpam-803	293	6	non	non	ADJ
ejpam-803	293	7	-	-	ADJ
ejpam-803	293	8	nested	nested	ADJ
ejpam-803	293	9	,	,	PUNCT
ejpam-803	293	10	and	and	CCONJ
ejpam-803	293	11	assuming	assume	VERB
ejpam-803	293	12	that	that	SCONJ
ejpam-803	293	13	parameter	parameter	NOUN
ejpam-803	293	14	estimation	estimation	NOUN
ejpam-803	293	15	error	error	NOUN
ejpam-803	293	16	vanishes	vanish	VERB
ejpam-803	293	17	,	,	PUNCT
ejpam-803	293	18	the	the	DET
ejpam-803	293	19	dm	dm	PROPN
ejpam-803	293	20	test	test	NOUN
ejpam-803	293	21	statistic	statistic	NOUN
ejpam-803	293	22	has	have	AUX
ejpam-803	293	23	a	a	DET
ejpam-803	293	24	n(0,1	n(0,1	NOUN
ejpam-803	293	25	)	)	PUNCT
ejpam-803	293	26	limiting	limit	VERB
ejpam-803	293	27	distribution	distribution	NOUN
ejpam-803	293	28	.	.	PUNCT
ejpam-803	294	1	finally	finally	ADV
ejpam-803	294	2	,	,	PUNCT
ejpam-803	294	3	given	give	VERB
ejpam-803	294	4	this	this	DET
ejpam-803	294	5	setup	setup	NOUN
ejpam-803	294	6	,	,	PUNCT
ejpam-803	294	7	a	a	DET
ejpam-803	294	8	negative	negative	ADJ
ejpam-803	294	9	dm	dm	PROPN
ejpam-803	294	10	t	t	PROPN
ejpam-803	294	11	-	-	PUNCT
ejpam-803	294	12	stat	stat	NOUN
ejpam-803	294	13	indicates	indicate	VERB
ejpam-803	294	14	that	that	SCONJ
ejpam-803	294	15	the	the	DET
ejpam-803	294	16	factor	factor	NOUN
ejpam-803	294	17	model	model	NOUN
ejpam-803	294	18	yields	yield	VERB
ejpam-803	294	19	a	a	DET
ejpam-803	294	20	lower	low	ADJ
ejpam-803	294	21	point	point	NOUN
ejpam-803	294	22	msfe	msfe	PROPN
ejpam-803	294	23	.	.	PUNCT
ejpam-803	295	1	for	for	ADP
ejpam-803	295	2	further	further	ADJ
ejpam-803	295	3	discussion	discussion	NOUN
ejpam-803	295	4	see	see	VERB
ejpam-803	295	5	[	[	X
ejpam-803	295	6	1	1	NUM
ejpam-803	295	7	]	]	PUNCT
ejpam-803	295	8	.	.	PUNCT
ejpam-803	296	1	4.2	4.2	NUM
ejpam-803	296	2	.	.	PUNCT
ejpam-803	296	3	data	datum	NOUN
ejpam-803	296	4	the	the	DET
ejpam-803	296	5	dataset	dataset	NOUN
ejpam-803	296	6	used	use	VERB
ejpam-803	296	7	to	to	PART
ejpam-803	296	8	estimate	estimate	VERB
ejpam-803	296	9	the	the	DET
ejpam-803	296	10	factors	factor	NOUN
ejpam-803	296	11	is	be	AUX
ejpam-803	296	12	the	the	DET
ejpam-803	296	13	same	same	ADJ
ejpam-803	296	14	as	as	ADP
ejpam-803	296	15	that	that	PRON
ejpam-803	296	16	used	use	VERB
ejpam-803	296	17	in	in	ADP
ejpam-803	296	18	[	[	X
ejpam-803	296	19	22	22	NUM
ejpam-803	296	20	]	]	PUNCT
ejpam-803	296	21	,	,	PUNCT
ejpam-803	296	22	which	which	PRON
ejpam-803	296	23	can	can	AUX
ejpam-803	296	24	be	be	AUX
ejpam-803	296	25	obtained	obtain	VERB
ejpam-803	296	26	at	at	ADP
ejpam-803	296	27	http://www.prin	http://www.prin	PROPN
ejpam-803	296	28	eton.edu/~mwatson	eton.edu/~mwatson	NOUN
ejpam-803	296	29	.	.	PUNCT
ejpam-803	297	1	this	this	DET
ejpam-803	297	2	dataset	dataset	NOUN
ejpam-803	297	3	contains	contain	VERB
ejpam-803	297	4	132	132	NUM
ejpam-803	297	5	monthly	monthly	ADJ
ejpam-803	297	6	time	time	NOUN
ejpam-803	297	7	series	series	NOUN
ejpam-803	297	8	for	for	ADP
ejpam-803	297	9	the	the	DET
ejpam-803	297	10	united	united	PROPN
ejpam-803	297	11	states	states	PROPN
ejpam-803	297	12	for	for	ADP
ejpam-803	297	13	the	the	DET
ejpam-803	297	14	entire	entire	ADJ
ejpam-803	297	15	period	period	NOUN
ejpam-803	297	16	from	from	ADP
ejpam-803	297	17	1960:1	1960:1	NUM
ejpam-803	297	18	to	to	ADP
ejpam-803	297	19	2003:12	2003:12	NUM
ejpam-803	297	20	,	,	PUNCT
ejpam-803	297	21	hence	hence	ADV
ejpam-803	297	22	n	n	NOUN
ejpam-803	297	23	=	=	SYM
ejpam-803	297	24	132	132	NUM
ejpam-803	297	25	and	and	CCONJ
ejpam-803	297	26	t	t	NOUN
ejpam-803	297	27	=	=	SYM
ejpam-803	297	28	528	528	NUM
ejpam-803	297	29	observations	observation	NOUN
ejpam-803	297	30	.	.	PUNCT
ejpam-803	298	1	the	the	DET
ejpam-803	298	2	series	series	NOUN
ejpam-803	298	3	were	be	AUX
ejpam-803	298	4	selected	select	VERB
ejpam-803	298	5	to	to	PART
ejpam-803	298	6	represent	represent	VERB
ejpam-803	298	7	the	the	DET
ejpam-803	298	8	following	follow	VERB
ejpam-803	298	9	categories	category	NOUN
ejpam-803	298	10	of	of	ADP
ejpam-803	298	11	macroeconomic	macroeconomic	ADJ
ejpam-803	298	12	time	time	NOUN
ejpam-803	298	13	series	series	NOUN
ejpam-803	298	14	:	:	PUNCT
ejpam-803	298	15	real	real	ADJ
ejpam-803	298	16	output	output	NOUN
ejpam-803	298	17	and	and	CCONJ
ejpam-803	298	18	income	income	NOUN
ejpam-803	298	19	;	;	PUNCT
ejpam-803	298	20	employment	employment	NOUN
ejpam-803	298	21	,	,	PUNCT
ejpam-803	298	22	manufacturing	manufacturing	NOUN
ejpam-803	298	23	and	and	CCONJ
ejpam-803	298	24	trade	trade	NOUN
ejpam-803	298	25	sales	sale	NOUN
ejpam-803	298	26	;	;	PUNCT
ejpam-803	298	27	consumption	consumption	NOUN
ejpam-803	298	28	;	;	PUNCT
ejpam-803	298	29	housing	housing	NOUN
ejpam-803	298	30	starts	start	NOUN
ejpam-803	298	31	and	and	CCONJ
ejpam-803	298	32	sales	sale	NOUN
ejpam-803	298	33	;	;	PUNCT
ejpam-803	298	34	real	real	ADJ
ejpam-803	298	35	inventories	inventory	NOUN
ejpam-803	298	36	and	and	CCONJ
ejpam-803	298	37	inventory	inventory	NOUN
ejpam-803	298	38	-	-	PUNCT
ejpam-803	298	39	sales	sale	NOUN
ejpam-803	298	40	ratios	ratio	NOUN
ejpam-803	298	41	;	;	PUNCT
ejpam-803	298	42	orders	order	NOUN
ejpam-803	298	43	and	and	CCONJ
ejpam-803	298	44	unfilled	unfilled	ADJ
ejpam-803	298	45	orders	order	NOUN
ejpam-803	298	46	;	;	PUNCT
ejpam-803	298	47	stock	stock	NOUN
ejpam-803	298	48	price	price	NOUN
ejpam-803	298	49	indices	index	NOUN
ejpam-803	298	50	;	;	PUNCT
ejpam-803	298	51	exchange	exchange	NOUN
ejpam-803	298	52	rates	rate	NOUN
ejpam-803	298	53	;	;	PUNCT
ejpam-803	298	54	interest	interest	NOUN
ejpam-803	298	55	rate	rate	NOUN
ejpam-803	298	56	spreads	spread	NOUN
ejpam-803	298	57	;	;	PUNCT
ejpam-803	298	58	money	money	NOUN
ejpam-803	298	59	and	and	CCONJ
ejpam-803	298	60	credit	credit	NOUN
ejpam-803	298	61	quantity	quantity	NOUN
ejpam-803	298	62	aggregates	aggregate	NOUN
ejpam-803	298	63	;	;	PUNCT
ejpam-803	298	64	and	and	CCONJ
ejpam-803	298	65	price	price	NOUN
ejpam-803	298	66	indexes	index	NOUN
ejpam-803	298	67	.	.	PUNCT
ejpam-803	299	1	for	for	ADP
ejpam-803	299	2	further	further	ADJ
ejpam-803	299	3	discussion	discussion	NOUN
ejpam-803	299	4	,	,	PUNCT
ejpam-803	299	5	see	see	VERB
ejpam-803	299	6	[	[	X
ejpam-803	299	7	1	1	NUM
ejpam-803	299	8	]	]	PUNCT
ejpam-803	299	9	.	.	PUNCT
ejpam-803	300	1	4.3	4.3	NUM
ejpam-803	300	2	.	.	PUNCT
ejpam-803	301	1	findings	finding	NOUN
ejpam-803	301	2	predictions	prediction	NOUN
ejpam-803	301	3	are	be	AUX
ejpam-803	301	4	constructed	construct	VERB
ejpam-803	301	5	for	for	ADP
ejpam-803	301	6	the	the	DET
ejpam-803	301	7	period	period	NOUN
ejpam-803	301	8	1989:5	1989:5	NUM
ejpam-803	301	9	-	-	SYM
ejpam-803	301	10	2003:12	2003:12	NUM
ejpam-803	301	11	,	,	PUNCT
ejpam-803	301	12	and	and	CCONJ
ejpam-803	301	13	results	result	NOUN
ejpam-803	301	14	are	be	AUX
ejpam-803	301	15	gathered	gather	VERB
ejpam-803	301	16	in	in	ADP
ejpam-803	301	17	table	table	NOUN
ejpam-803	301	18	1	1	NUM
ejpam-803	301	19	(	(	PUNCT
ejpam-803	301	20	frequency	frequency	NOUN
ejpam-803	301	21	of	of	ADP
ejpam-803	301	22	selected	select	VERB
ejpam-803	301	23	factor	factor	NOUN
ejpam-803	301	24	proxies	proxy	NOUN
ejpam-803	301	25	)	)	PUNCT
ejpam-803	301	26	,	,	PUNCT
ejpam-803	301	27	table	table	NOUN
ejpam-803	301	28	2	2	NUM
ejpam-803	301	29	(	(	PUNCT
ejpam-803	301	30	cpi	cpi	NOUN
ejpam-803	301	31	,	,	PUNCT
ejpam-803	301	32	pced	pce	VERB
ejpam-803	301	33	,	,	PUNCT
ejpam-803	301	34	and	and	CCONJ
ejpam-803	301	35	ppi	ppi	PROPN
ejpam-803	301	36	forecasting	forecasting	NOUN
ejpam-803	301	37	competition	competition	NOUN
ejpam-803	301	38	results	result	NOUN
ejpam-803	301	39	)	)	PUNCT
ejpam-803	301	40	,	,	PUNCT
ejpam-803	301	41	and	and	CCONJ
ejpam-803	301	42	table	table	NOUN
ejpam-803	301	43	3	3	NUM
ejpam-803	301	44	(	(	PUNCT
ejpam-803	301	45	industrial	industrial	ADJ
ejpam-803	301	46	production	production	NOUN
ejpam-803	301	47	,	,	PUNCT
ejpam-803	301	48	personal	personal	ADJ
ejpam-803	301	49	income	income	NOUN
ejpam-803	301	50	;	;	PUNCT
ejpam-803	301	51	nonagricultural	nonagricultural	ADJ
ejpam-803	301	52	employment	employment	NOUN
ejpam-803	301	53	,	,	PUNCT
ejpam-803	301	54	manufacturing	manufacturing	NOUN
ejpam-803	301	55	and	and	CCONJ
ejpam-803	301	56	trade	trade	NOUN
ejpam-803	301	57	sales	sale	NOUN
ejpam-803	301	58	)	)	PUNCT
ejpam-803	301	59	.	.	PUNCT
ejpam-803	302	1	in	in	ADP
ejpam-803	302	2	table	table	NOUN
ejpam-803	302	3	1	1	NUM
ejpam-803	302	4	,	,	PUNCT
ejpam-803	302	5	selection	selection	NOUN
ejpam-803	302	6	frequencies	frequency	NOUN
ejpam-803	302	7	are	be	AUX
ejpam-803	302	8	reported	report	VERB
ejpam-803	302	9	,	,	PUNCT
ejpam-803	302	10	while	while	SCONJ
ejpam-803	302	11	in	in	ADP
ejpam-803	302	12	tables	table	NOUN
ejpam-803	302	13	2	2	NUM
ejpam-803	302	14	-	-	SYM
ejpam-803	302	15	3	3	NUM
ejpam-803	302	16	msfes	msfe	NOUN
ejpam-803	302	17	and	and	CCONJ
ejpam-803	302	18	dm	dm	PROPN
ejpam-803	302	19	test	test	NOUN
ejpam-803	302	20	statistics	statistic	NOUN
ejpam-803	302	21	are	be	AUX
ejpam-803	302	22	reported	report	VERB
ejpam-803	302	23	.	.	PUNCT
ejpam-803	303	1	the	the	DET
ejpam-803	303	2	msfe	msfe	PROPN
ejpam-803	303	3	values	value	NOUN
ejpam-803	303	4	reported	report	VERB
ejpam-803	303	5	for	for	ADP
ejpam-803	303	6	cpi	cpi	NOUN
ejpam-803	303	7	,	,	PUNCT
ejpam-803	303	8	pced	pced	ADJ
ejpam-803	303	9	and	and	CCONJ
ejpam-803	303	10	nonagricultural	nonagricultural	ADJ
ejpam-803	303	11	employment	employment	NOUN
ejpam-803	303	12	are	be	AUX
ejpam-803	303	13	multiplied	multiply	VERB
ejpam-803	303	14	by	by	ADP
ejpam-803	303	15	100,000	100,000	NUM
ejpam-803	303	16	and	and	CCONJ
ejpam-803	303	17	those	those	PRON
ejpam-803	303	18	reported	report	VERB
ejpam-803	303	19	n.	n.	PROPN
ejpam-803	303	20	armah	armah	PROPN
ejpam-803	303	21	and	and	CCONJ
ejpam-803	303	22	n.	n.	PROPN
ejpam-803	303	23	swanson	swanson	PROPN
ejpam-803	303	24	/	/	SYM
ejpam-803	303	25	eur	eur	PROPN
ejpam-803	303	26	.	.	PUNCT
ejpam-803	304	1	j.	j.	PROPN
ejpam-803	304	2	pure	pure	PROPN
ejpam-803	304	3	appl	appl	PROPN
ejpam-803	304	4	.	.	PROPN
ejpam-803	304	5	math	math	PROPN
ejpam-803	304	6	,	,	PUNCT
ejpam-803	304	7	3	3	NUM
ejpam-803	304	8	(	(	PUNCT
ejpam-803	304	9	2010	2010	NUM
ejpam-803	304	10	)	)	PUNCT
ejpam-803	304	11	,	,	PUNCT
ejpam-803	304	12	478	478	NUM
ejpam-803	304	13	-	-	SYM
ejpam-803	304	14	501	501	NUM
ejpam-803	304	15	488	488	NUM
ejpam-803	304	16	for	for	ADP
ejpam-803	304	17	producer	producer	NOUN
ejpam-803	304	18	price	price	NOUN
ejpam-803	304	19	index	index	NOUN
ejpam-803	304	20	,	,	PUNCT
ejpam-803	304	21	industrial	industrial	ADJ
ejpam-803	304	22	production	production	NOUN
ejpam-803	304	23	,	,	PUNCT
ejpam-803	304	24	manufacturing	manufacturing	NOUN
ejpam-803	304	25	and	and	CCONJ
ejpam-803	304	26	trade	trade	NOUN
ejpam-803	304	27	sales	sale	NOUN
ejpam-803	304	28	and	and	CCONJ
ejpam-803	304	29	personal	personal	ADJ
ejpam-803	304	30	income	income	NOUN
ejpam-803	304	31	are	be	AUX
ejpam-803	304	32	multiplied	multiply	VERB
ejpam-803	304	33	by	by	ADP
ejpam-803	304	34	10,000	10,000	NUM
ejpam-803	304	35	.	.	PUNCT
ejpam-803	305	1	for	for	ADP
ejpam-803	305	2	the	the	DET
ejpam-803	305	3	benchmark	benchmark	ADJ
ejpam-803	305	4	model	model	NOUN
ejpam-803	305	5	1	1	NUM
ejpam-803	305	6	(	(	PUNCT
ejpam-803	305	7	i.e.	i.e.	X
ejpam-803	305	8	,	,	PUNCT
ejpam-803	305	9	the	the	DET
ejpam-803	305	10	factor	factor	NOUN
ejpam-803	305	11	model	model	NOUN
ejpam-803	305	12	)	)	PUNCT
ejpam-803	305	13	,	,	PUNCT
ejpam-803	305	14	the	the	DET
ejpam-803	305	15	only	only	ADJ
ejpam-803	305	16	tabular	tabular	ADJ
ejpam-803	305	17	entry	entry	NOUN
ejpam-803	305	18	for	for	ADP
ejpam-803	305	19	all	all	DET
ejpam-803	305	20	forecast	forecast	NOUN
ejpam-803	305	21	horizons	horizon	NOUN
ejpam-803	305	22	is	be	AUX
ejpam-803	305	23	the	the	DET
ejpam-803	305	24	msfe	msfe	PROPN
ejpam-803	305	25	.	.	PUNCT
ejpam-803	306	1	with	with	ADP
ejpam-803	306	2	all	all	PRON
ejpam-803	306	3	of	of	ADP
ejpam-803	306	4	the	the	DET
ejpam-803	306	5	other	other	ADJ
ejpam-803	306	6	models	model	NOUN
ejpam-803	306	7	(	(	PUNCT
ejpam-803	306	8	i.e.	i.e.	X
ejpam-803	306	9	,	,	PUNCT
ejpam-803	306	10	our	our	PRON
ejpam-803	306	11	alternative	alternative	ADJ
ejpam-803	306	12	models	model	NOUN
ejpam-803	306	13	)	)	PUNCT
ejpam-803	306	14	,	,	PUNCT
ejpam-803	306	15	there	there	PRON
ejpam-803	306	16	are	be	VERB
ejpam-803	306	17	two	two	NUM
ejpam-803	306	18	entries	entry	NOUN
ejpam-803	306	19	:	:	PUNCT
ejpam-803	306	20	the	the	DET
ejpam-803	306	21	top	top	ADJ
ejpam-803	306	22	entry	entry	NOUN
ejpam-803	306	23	is	be	AUX
ejpam-803	306	24	the	the	DET
ejpam-803	306	25	msfe	msfe	PROPN
ejpam-803	306	26	and	and	CCONJ
ejpam-803	306	27	the	the	DET
ejpam-803	306	28	bottom	bottom	ADJ
ejpam-803	306	29	entry	entry	NOUN
ejpam-803	306	30	in	in	ADP
ejpam-803	306	31	parenthesis	parenthesis	NOUN
ejpam-803	306	32	is	be	AUX
ejpam-803	306	33	the	the	DET
ejpam-803	306	34	dm	dm	PROPN
ejpam-803	306	35	t	t	PROPN
ejpam-803	306	36	-	-	PUNCT
ejpam-803	306	37	statistic	statistic	NOUN
ejpam-803	306	38	.	.	PUNCT
ejpam-803	307	1	as	as	SCONJ
ejpam-803	307	2	mentioned	mention	VERB
ejpam-803	307	3	earlier	early	ADV
ejpam-803	307	4	,	,	PUNCT
ejpam-803	307	5	a	a	DET
ejpam-803	307	6	positive	positive	ADJ
ejpam-803	307	7	dm	dm	NOUN
ejpam-803	307	8	statistic	statistic	NOUN
ejpam-803	307	9	value	value	NOUN
ejpam-803	307	10	indicates	indicate	VERB
ejpam-803	307	11	that	that	SCONJ
ejpam-803	307	12	the	the	DET
ejpam-803	307	13	alternative	alternative	ADJ
ejpam-803	307	14	model	model	NOUN
ejpam-803	307	15	has	have	VERB
ejpam-803	307	16	a	a	DET
ejpam-803	307	17	msfe	msfe	NOUN
ejpam-803	307	18	that	that	PRON
ejpam-803	307	19	is	be	AUX
ejpam-803	307	20	lower	low	ADJ
ejpam-803	307	21	than	than	ADP
ejpam-803	307	22	the	the	DET
ejpam-803	307	23	benchmark	benchmark	NOUN
ejpam-803	307	24	,	,	PUNCT
ejpam-803	307	25	while	while	SCONJ
ejpam-803	307	26	a	a	DET
ejpam-803	307	27	negative	negative	ADJ
ejpam-803	307	28	statistic	statistic	ADJ
ejpam-803	307	29	value	value	NOUN
ejpam-803	307	30	indicates	indicate	VERB
ejpam-803	307	31	the	the	DET
ejpam-803	307	32	reverse	reverse	NOUN
ejpam-803	307	33	.	.	PUNCT
ejpam-803	308	1	entries	entry	NOUN
ejpam-803	308	2	in	in	ADP
ejpam-803	308	3	bold	bold	ADJ
ejpam-803	308	4	signify	signify	VERB
ejpam-803	308	5	instances	instance	NOUN
ejpam-803	308	6	where	where	SCONJ
ejpam-803	308	7	the	the	DET
ejpam-803	308	8	alternative	alternative	ADJ
ejpam-803	308	9	model	model	NOUN
ejpam-803	308	10	outperforms	outperform	VERB
ejpam-803	308	11	the	the	DET
ejpam-803	308	12	factor	factor	NOUN
ejpam-803	308	13	model	model	NOUN
ejpam-803	308	14	as	as	SCONJ
ejpam-803	308	15	determined	determine	VERB
ejpam-803	308	16	by	by	ADP
ejpam-803	308	17	a	a	DET
ejpam-803	308	18	point	point	NOUN
ejpam-803	308	19	msfe	msfe	NOUN
ejpam-803	308	20	comparison	comparison	NOUN
ejpam-803	308	21	.	.	PUNCT
ejpam-803	309	1	boxed	box	VERB
ejpam-803	309	2	msfe	msfe	PROPN
ejpam-803	309	3	entries	entry	NOUN
ejpam-803	309	4	represent	represent	VERB
ejpam-803	309	5	the	the	DET
ejpam-803	309	6	lowest	low	ADJ
ejpam-803	309	7	msfe	msfe	NOUN
ejpam-803	309	8	value	value	NOUN
ejpam-803	309	9	among	among	ADP
ejpam-803	309	10	all	all	DET
ejpam-803	309	11	the	the	DET
ejpam-803	309	12	models	model	NOUN
ejpam-803	309	13	for	for	ADP
ejpam-803	309	14	a	a	DET
ejpam-803	309	15	particular	particular	ADJ
ejpam-803	309	16	forecast	forecast	NOUN
ejpam-803	309	17	horizon	horizon	NOUN
ejpam-803	309	18	.	.	PUNCT
ejpam-803	310	1	dm	dm	NOUN
ejpam-803	310	2	statistic	statistic	ADJ
ejpam-803	310	3	entries	entry	NOUN
ejpam-803	310	4	with	with	ADP
ejpam-803	310	5	a	a	DET
ejpam-803	310	6	∗	∗	NOUN
ejpam-803	310	7	indicate	indicate	VERB
ejpam-803	310	8	instances	instance	NOUN
ejpam-803	310	9	where	where	SCONJ
ejpam-803	310	10	the	the	DET
ejpam-803	310	11	respective	respective	ADJ
ejpam-803	310	12	alternative	alternative	ADJ
ejpam-803	310	13	model	model	NOUN
ejpam-803	310	14	significantly	significantly	ADV
ejpam-803	310	15	outperforms	outperform	VERB
ejpam-803	310	16	the	the	DET
ejpam-803	310	17	factor	factor	NOUN
ejpam-803	310	18	model	model	NOUN
ejpam-803	310	19	at	at	ADP
ejpam-803	310	20	a	a	DET
ejpam-803	310	21	10	10	NUM
ejpam-803	310	22	%	%	NOUN
ejpam-803	310	23	significance	significance	NOUN
ejpam-803	310	24	level	level	NOUN
ejpam-803	310	25	,	,	PUNCT
ejpam-803	310	26	whereas	whereas	SCONJ
ejpam-803	310	27	for	for	ADP
ejpam-803	310	28	entries	entry	NOUN
ejpam-803	310	29	with	with	ADP
ejpam-803	310	30	a	a	DET
ejpam-803	310	31	†	†	PROPN
ejpam-803	310	32	sign	sign	NOUN
ejpam-803	310	33	,	,	PUNCT
ejpam-803	310	34	the	the	DET
ejpam-803	310	35	factor	factor	NOUN
ejpam-803	310	36	model	model	NOUN
ejpam-803	310	37	significantly	significantly	ADV
ejpam-803	310	38	outperforms	outperform	VERB
ejpam-803	310	39	the	the	DET
ejpam-803	310	40	alternative	alternative	ADJ
ejpam-803	310	41	model	model	NOUN
ejpam-803	310	42	at	at	ADP
ejpam-803	310	43	a	a	DET
ejpam-803	310	44	10	10	NUM
ejpam-803	310	45	%	%	NOUN
ejpam-803	310	46	significance	significance	NOUN
ejpam-803	310	47	level	level	NOUN
ejpam-803	310	48	.	.	PUNCT
ejpam-803	311	1	we	we	PRON
ejpam-803	311	2	now	now	ADV
ejpam-803	311	3	provide	provide	VERB
ejpam-803	311	4	a	a	DET
ejpam-803	311	5	number	number	NOUN
ejpam-803	311	6	of	of	ADP
ejpam-803	311	7	conclusions	conclusion	NOUN
ejpam-803	311	8	based	base	VERB
ejpam-803	311	9	on	on	ADP
ejpam-803	311	10	the	the	DET
ejpam-803	311	11	tables	table	NOUN
ejpam-803	311	12	.	.	PUNCT
ejpam-803	312	1	upon	upon	SCONJ
ejpam-803	312	2	inspection	inspection	NOUN
ejpam-803	312	3	of	of	ADP
ejpam-803	312	4	table	table	NOUN
ejpam-803	312	5	2	2	NUM
ejpam-803	312	6	,	,	PUNCT
ejpam-803	312	7	it	it	PRON
ejpam-803	312	8	is	be	AUX
ejpam-803	312	9	clear	clear	ADJ
ejpam-803	312	10	that	that	SCONJ
ejpam-803	312	11	the	the	DET
ejpam-803	312	12	benchmark	benchmark	ADJ
ejpam-803	312	13	factor	factor	NOUN
ejpam-803	312	14	model	model	NOUN
ejpam-803	312	15	(	(	PUNCT
ejpam-803	312	16	i.e.	i.e.	X
ejpam-803	312	17	,	,	PUNCT
ejpam-803	312	18	model	model	NOUN
ejpam-803	312	19	1	1	NUM
ejpam-803	312	20	)	)	PUNCT
ejpam-803	312	21	significantly	significantly	ADV
ejpam-803	312	22	outperforms	outperform	VERB
ejpam-803	312	23	most	most	ADJ
ejpam-803	312	24	of	of	ADP
ejpam-803	312	25	the	the	DET
ejpam-803	312	26	alternative	alternative	ADJ
ejpam-803	312	27	models	model	NOUN
ejpam-803	312	28	in	in	ADP
ejpam-803	312	29	the	the	DET
ejpam-803	312	30	forecast	forecast	NOUN
ejpam-803	312	31	of	of	ADP
ejpam-803	312	32	cpi	cpi	PROPN
ejpam-803	312	33	and	and	CCONJ
ejpam-803	312	34	pced	pce	VERB
ejpam-803	312	35	.	.	PUNCT
ejpam-803	313	1	this	this	DET
ejpam-803	313	2	point	point	NOUN
ejpam-803	313	3	is	be	AUX
ejpam-803	313	4	supported	support	VERB
ejpam-803	313	5	by	by	ADP
ejpam-803	313	6	the	the	DET
ejpam-803	313	7	large	large	ADJ
ejpam-803	313	8	number	number	NOUN
ejpam-803	313	9	of	of	ADP
ejpam-803	313	10	dm	dm	NUM
ejpam-803	313	11	test	test	NOUN
ejpam-803	313	12	rejections	rejection	NOUN
ejpam-803	313	13	in	in	ADP
ejpam-803	313	14	panels	panel	NOUN
ejpam-803	313	15	a	a	PRON
ejpam-803	313	16	and	and	CCONJ
ejpam-803	313	17	b	b	NOUN
ejpam-803	313	18	of	of	ADP
ejpam-803	313	19	table	table	NOUN
ejpam-803	313	20	2	2	NUM
ejpam-803	313	21	.	.	PUNCT
ejpam-803	314	1	while	while	SCONJ
ejpam-803	314	2	the	the	DET
ejpam-803	314	3	benchmark	benchmark	NOUN
ejpam-803	314	4	still	still	ADV
ejpam-803	314	5	yields	yield	VERB
ejpam-803	314	6	the	the	DET
ejpam-803	314	7	lower	low	ADJ
ejpam-803	314	8	msfe	msfe	NOUN
ejpam-803	314	9	in	in	ADP
ejpam-803	314	10	many	many	ADJ
ejpam-803	314	11	pairwise	pairwise	NOUN
ejpam-803	314	12	comparisons	comparison	NOUN
ejpam-803	314	13	when	when	SCONJ
ejpam-803	314	14	examining	examine	VERB
ejpam-803	314	15	ppi	ppi	NOUN
ejpam-803	314	16	results	result	NOUN
ejpam-803	314	17	(	(	PUNCT
ejpam-803	314	18	see	see	VERB
ejpam-803	314	19	panel	panel	NOUN
ejpam-803	314	20	c	c	PROPN
ejpam-803	314	21	of	of	ADP
ejpam-803	314	22	the	the	DET
ejpam-803	314	23	table	table	NOUN
ejpam-803	314	24	)	)	PUNCT
ejpam-803	314	25	,	,	PUNCT
ejpam-803	314	26	the	the	DET
ejpam-803	314	27	dm	dm	PROPN
ejpam-803	314	28	test	test	NOUN
ejpam-803	314	29	null	null	NOUN
ejpam-803	314	30	of	of	ADP
ejpam-803	314	31	equal	equal	ADJ
ejpam-803	314	32	predictive	predictive	ADJ
ejpam-803	314	33	accuracy	accuracy	NOUN
ejpam-803	314	34	is	be	AUX
ejpam-803	314	35	not	not	PART
ejpam-803	314	36	frequently	frequently	ADV
ejpam-803	314	37	rejected	reject	VERB
ejpam-803	314	38	.	.	PUNCT
ejpam-803	315	1	a	a	DET
ejpam-803	315	2	key	key	ADJ
ejpam-803	315	3	exception	exception	NOUN
ejpam-803	315	4	to	to	ADP
ejpam-803	315	5	the	the	DET
ejpam-803	315	6	above	above	ADJ
ejpam-803	315	7	conclusion	conclusion	NOUN
ejpam-803	315	8	that	that	SCONJ
ejpam-803	315	9	the	the	DET
ejpam-803	315	10	benchmark	benchmark	NOUN
ejpam-803	315	11	model	model	NOUN
ejpam-803	315	12	yields	yield	VERB
ejpam-803	315	13	superior	superior	ADJ
ejpam-803	315	14	predictions	prediction	NOUN
ejpam-803	315	15	is	be	AUX
ejpam-803	315	16	in	in	ADP
ejpam-803	315	17	the	the	DET
ejpam-803	315	18	case	case	NOUN
ejpam-803	315	19	of	of	ADP
ejpam-803	315	20	models	model	NOUN
ejpam-803	315	21	12	12	NUM
ejpam-803	315	22	-	-	SYM
ejpam-803	315	23	15	15	NUM
ejpam-803	315	24	.	.	PUNCT
ejpam-803	315	25	recall	recall	VERB
ejpam-803	315	26	that	that	SCONJ
ejpam-803	315	27	these	these	PRON
ejpam-803	315	28	are	be	AUX
ejpam-803	315	29	autoregressive	autoregressive	ADJ
ejpam-803	315	30	models	model	NOUN
ejpam-803	315	31	with	with	ADP
ejpam-803	315	32	exogenous	exogenous	ADJ
ejpam-803	315	33	variables	variable	NOUN
ejpam-803	315	34	(	(	PUNCT
ejpam-803	315	35	arx	arx	PROPN
ejpam-803	315	36	)	)	PUNCT
ejpam-803	315	37	.	.	PUNCT
ejpam-803	316	1	the	the	DET
ejpam-803	316	2	lags	lag	NOUN
ejpam-803	316	3	of	of	ADP
ejpam-803	316	4	the	the	DET
ejpam-803	316	5	arx	arx	PROPN
ejpam-803	316	6	models	model	NOUN
ejpam-803	316	7	are	be	AUX
ejpam-803	316	8	selected	select	VERB
ejpam-803	316	9	by	by	ADP
ejpam-803	316	10	the	the	DET
ejpam-803	316	11	sic	sic	NOUN
ejpam-803	316	12	and	and	CCONJ
ejpam-803	316	13	the	the	DET
ejpam-803	316	14	exogenous	exogenous	ADJ
ejpam-803	316	15	variables	variable	NOUN
ejpam-803	316	16	are	be	AUX
ejpam-803	316	17	based	base	VERB
ejpam-803	316	18	on	on	ADP
ejpam-803	316	19	smoothed	smooth	VERB
ejpam-803	316	20	versions	version	NOUN
ejpam-803	316	21	of	of	ADP
ejpam-803	316	22	the	the	DET
ejpam-803	316	23	a	a	PROPN
ejpam-803	316	24	(	(	PUNCT
ejpam-803	316	25	j	j	NOUN
ejpam-803	316	26	)	)	PUNCT
ejpam-803	316	27	and	and	CCONJ
ejpam-803	316	28	m	m	PROPN
ejpam-803	316	29	(	(	PUNCT
ejpam-803	316	30	j	j	NOUN
ejpam-803	316	31	)	)	PUNCT
ejpam-803	316	32	tests	test	NOUN
ejpam-803	316	33	.	.	PUNCT
ejpam-803	317	1	for	for	ADP
ejpam-803	317	2	h	h	NOUN
ejpam-803	317	3	=	=	SYM
ejpam-803	317	4	1,3,12	1,3,12	PROPN
ejpam-803	317	5	,	,	PUNCT
ejpam-803	317	6	these	these	DET
ejpam-803	317	7	models	model	NOUN
ejpam-803	317	8	not	not	PART
ejpam-803	317	9	only	only	ADV
ejpam-803	317	10	frequently	frequently	ADV
ejpam-803	317	11	yield	yield	VERB
ejpam-803	317	12	lower	low	ADJ
ejpam-803	317	13	point	point	NOUN
ejpam-803	317	14	msfes	msfe	NOUN
ejpam-803	317	15	than	than	ADP
ejpam-803	317	16	the	the	DET
ejpam-803	317	17	benchmark	benchmark	NOUN
ejpam-803	317	18	,	,	PUNCT
ejpam-803	317	19	but	but	CCONJ
ejpam-803	317	20	the	the	DET
ejpam-803	317	21	difference	difference	NOUN
ejpam-803	317	22	in	in	ADP
ejpam-803	317	23	performance	performance	NOUN
ejpam-803	317	24	is	be	AUX
ejpam-803	317	25	often	often	ADV
ejpam-803	317	26	significant	significant	ADJ
ejpam-803	317	27	.	.	PUNCT
ejpam-803	318	1	across	across	ADP
ejpam-803	318	2	all	all	DET
ejpam-803	318	3	3	3	NUM
ejpam-803	318	4	panels	panel	NOUN
ejpam-803	318	5	and	and	CCONJ
ejpam-803	318	6	3	3	NUM
ejpam-803	318	7	forecast	forecast	NOUN
ejpam-803	318	8	horizons	horizon	NOUN
ejpam-803	318	9	(	(	PUNCT
ejpam-803	318	10	i.e.	i.e.	X
ejpam-803	318	11	,	,	PUNCT
ejpam-803	318	12	9	9	NUM
ejpam-803	318	13	variable	variable	ADJ
ejpam-803	318	14	/	/	SYM
ejpam-803	318	15	horizon	horizon	NOUN
ejpam-803	318	16	combinations	combination	NOUN
ejpam-803	318	17	)	)	PUNCT
ejpam-803	318	18	,	,	PUNCT
ejpam-803	318	19	it	it	PRON
ejpam-803	318	20	is	be	AUX
ejpam-803	318	21	interesting	interesting	ADJ
ejpam-803	318	22	to	to	PART
ejpam-803	318	23	note	note	VERB
ejpam-803	318	24	that	that	SCONJ
ejpam-803	318	25	one	one	NUM
ejpam-803	318	26	or	or	CCONJ
ejpam-803	318	27	many	many	ADJ
ejpam-803	318	28	of	of	ADP
ejpam-803	318	29	models	model	NOUN
ejpam-803	318	30	12	12	NUM
ejpam-803	318	31	-	-	SYM
ejpam-803	318	32	15	15	NUM
ejpam-803	318	33	are	be	AUX
ejpam-803	318	34	“	"	PUNCT
ejpam-803	318	35	msfe	msfe	ADJ
ejpam-803	318	36	-	-	PUNCT
ejpam-803	318	37	best	good	ADJ
ejpam-803	318	38	”	"	PUNCT
ejpam-803	318	39	7	7	NUM
ejpam-803	318	40	times	time	NOUN
ejpam-803	318	41	.	.	PUNCT
ejpam-803	319	1	furthermore	furthermore	ADV
ejpam-803	319	2	,	,	PUNCT
ejpam-803	319	3	of	of	ADP
ejpam-803	319	4	these	these	DET
ejpam-803	319	5	7	7	NUM
ejpam-803	319	6	“	"	PUNCT
ejpam-803	319	7	wins	win	NOUN
ejpam-803	319	8	”	"	PUNCT
ejpam-803	319	9	it	it	PRON
ejpam-803	319	10	is	be	AUX
ejpam-803	319	11	model	model	NOUN
ejpam-803	319	12	12	12	NUM
ejpam-803	319	13	that	that	PRON
ejpam-803	319	14	yields	yield	VERB
ejpam-803	319	15	the	the	DET
ejpam-803	319	16	lowest	low	ADJ
ejpam-803	319	17	msfe	msfe	NOUN
ejpam-803	319	18	in	in	ADP
ejpam-803	319	19	4	4	NUM
ejpam-803	319	20	instances	instance	NOUN
ejpam-803	319	21	.	.	PUNCT
ejpam-803	320	1	thus	thus	ADV
ejpam-803	320	2	,	,	PUNCT
ejpam-803	320	3	we	we	PRON
ejpam-803	320	4	have	have	VERB
ejpam-803	320	5	direct	direct	ADJ
ejpam-803	320	6	evidence	evidence	NOUN
ejpam-803	320	7	that	that	SCONJ
ejpam-803	320	8	the	the	DET
ejpam-803	320	9	parsimonious	parsimonious	ADJ
ejpam-803	320	10	single	single	ADJ
ejpam-803	320	11	proxy	proxy	NOUN
ejpam-803	320	12	smoothed	smooth	VERB
ejpam-803	320	13	a	a	DET
ejpam-803	320	14	(	(	PUNCT
ejpam-803	320	15	j)model	j)model	ADJ
ejpam-803	320	16	fares	fare	NOUN
ejpam-803	320	17	very	very	ADV
ejpam-803	320	18	well	well	ADV
ejpam-803	320	19	when	when	SCONJ
ejpam-803	320	20	compared	compare	VERB
ejpam-803	320	21	not	not	PART
ejpam-803	320	22	only	only	ADV
ejpam-803	320	23	to	to	ADP
ejpam-803	320	24	the	the	DET
ejpam-803	320	25	benchmark	benchmark	NOUN
ejpam-803	320	26	,	,	PUNCT
ejpam-803	320	27	but	but	CCONJ
ejpam-803	320	28	also	also	ADV
ejpam-803	320	29	to	to	ADP
ejpam-803	320	30	other	other	ADJ
ejpam-803	320	31	models	model	NOUN
ejpam-803	320	32	which	which	PRON
ejpam-803	320	33	yield	yield	VERB
ejpam-803	320	34	lower	low	ADJ
ejpam-803	320	35	msfes	msfe	NOUN
ejpam-803	320	36	than	than	ADP
ejpam-803	320	37	the	the	DET
ejpam-803	320	38	benchmark	benchmark	NOUN
ejpam-803	320	39	.	.	PUNCT
ejpam-803	321	1	this	this	PRON
ejpam-803	321	2	suggests	suggest	VERB
ejpam-803	321	3	that	that	SCONJ
ejpam-803	321	4	while	while	SCONJ
ejpam-803	321	5	the	the	DET
ejpam-803	321	6	factor	factor	NOUN
ejpam-803	321	7	approach	approach	NOUN
ejpam-803	321	8	is	be	AUX
ejpam-803	321	9	very	very	ADV
ejpam-803	321	10	useful	useful	ADJ
ejpam-803	321	11	,	,	PUNCT
ejpam-803	321	12	often	often	ADV
ejpam-803	321	13	beating	beat	VERB
ejpam-803	321	14	the	the	DET
ejpam-803	321	15	pure	pure	ADJ
ejpam-803	321	16	autoregressive	autoregressive	ADJ
ejpam-803	321	17	and	and	CCONJ
ejpam-803	321	18	other	other	ADJ
ejpam-803	321	19	linear	linear	ADJ
ejpam-803	321	20	models	model	NOUN
ejpam-803	321	21	when	when	SCONJ
ejpam-803	321	22	used	use	VERB
ejpam-803	321	23	for	for	ADP
ejpam-803	321	24	predicting	predict	VERB
ejpam-803	321	25	price	price	NOUN
ejpam-803	321	26	variables	variable	NOUN
ejpam-803	321	27	,	,	PUNCT
ejpam-803	321	28	a	a	DET
ejpam-803	321	29	parsimonious	parsimonious	ADJ
ejpam-803	321	30	version	version	NOUN
ejpam-803	321	31	of	of	ADP
ejpam-803	321	32	the	the	DET
ejpam-803	321	33	smoothed	smoothed	ADJ
ejpam-803	321	34	a	a	PRON
ejpam-803	321	35	(	(	PUNCT
ejpam-803	321	36	j	j	NOUN
ejpam-803	321	37	)	)	PUNCT
ejpam-803	321	38	factor	factor	NOUN
ejpam-803	321	39	proxy	proxy	NOUN
ejpam-803	321	40	approach	approach	NOUN
ejpam-803	321	41	performs	perform	VERB
ejpam-803	321	42	the	the	DET
ejpam-803	321	43	best	good	ADJ
ejpam-803	321	44	,	,	PUNCT
ejpam-803	321	45	overall	overall	ADJ
ejpam-803	321	46	.	.	PUNCT
ejpam-803	322	1	thus	thus	ADV
ejpam-803	322	2	,	,	PUNCT
ejpam-803	322	3	as	as	SCONJ
ejpam-803	322	4	pointed	point	VERB
ejpam-803	322	5	out	out	ADP
ejpam-803	322	6	by	by	ADP
ejpam-803	322	7	[	[	X
ejpam-803	322	8	6	6	NUM
ejpam-803	322	9	]	]	PUNCT
ejpam-803	322	10	,	,	PUNCT
ejpam-803	322	11	parsimony	parsimony	NOUN
ejpam-803	322	12	is	be	AUX
ejpam-803	322	13	still	still	ADV
ejpam-803	322	14	important	important	ADJ
ejpam-803	322	15	.	.	PUNCT
ejpam-803	323	1	this	this	PRON
ejpam-803	323	2	is	be	AUX
ejpam-803	323	3	even	even	ADV
ejpam-803	323	4	true	true	ADJ
ejpam-803	323	5	in	in	ADP
ejpam-803	323	6	the	the	DET
ejpam-803	323	7	context	context	NOUN
ejpam-803	323	8	of	of	ADP
ejpam-803	323	9	ordinary	ordinary	ADJ
ejpam-803	323	10	proxy	proxy	NOUN
ejpam-803	323	11	models	model	NOUN
ejpam-803	323	12	(	(	PUNCT
ejpam-803	323	13	models	model	NOUN
ejpam-803	323	14	4	4	NUM
ejpam-803	323	15	-	-	SYM
ejpam-803	323	16	7	7	NUM
ejpam-803	323	17	)	)	PUNCT
ejpam-803	323	18	,	,	PUNCT
ejpam-803	323	19	as	as	ADP
ejpam-803	323	20	choosing	choose	VERB
ejpam-803	323	21	one	one	NUM
ejpam-803	323	22	proxy	proxy	NOUN
ejpam-803	323	23	rather	rather	ADV
ejpam-803	323	24	than	than	ADP
ejpam-803	323	25	bk	bk	VERB
ejpam-803	323	26	proxies	proxy	NOUN
ejpam-803	323	27	often	often	ADV
ejpam-803	323	28	yields	yield	VERB
ejpam-803	323	29	the	the	DET
ejpam-803	323	30	lowest	low	ADJ
ejpam-803	323	31	msfe	msfe	NOUN
ejpam-803	323	32	model	model	NOUN
ejpam-803	323	33	.	.	PUNCT
ejpam-803	324	1	turning	turn	VERB
ejpam-803	324	2	now	now	ADV
ejpam-803	324	3	to	to	PART
ejpam-803	324	4	table	table	VERB
ejpam-803	324	5	3	3	NUM
ejpam-803	324	6	,	,	PUNCT
ejpam-803	324	7	the	the	DET
ejpam-803	324	8	above	above	ADJ
ejpam-803	324	9	conclusions	conclusion	NOUN
ejpam-803	324	10	still	still	ADV
ejpam-803	324	11	hold	hold	VERB
ejpam-803	324	12	,	,	PUNCT
ejpam-803	324	13	with	with	ADP
ejpam-803	324	14	the	the	DET
ejpam-803	324	15	exception	exception	NOUN
ejpam-803	324	16	that	that	PRON
ejpam-803	324	17	many	many	ADJ
ejpam-803	324	18	other	other	ADJ
ejpam-803	324	19	alternative	alternative	ADJ
ejpam-803	324	20	models	model	NOUN
ejpam-803	324	21	,	,	PUNCT
ejpam-803	324	22	and	and	CCONJ
ejpam-803	324	23	not	not	PART
ejpam-803	324	24	just	just	ADV
ejpam-803	324	25	models	model	NOUN
ejpam-803	324	26	12	12	NUM
ejpam-803	324	27	-	-	SYM
ejpam-803	324	28	15	15	NUM
ejpam-803	324	29	,	,	PUNCT
ejpam-803	324	30	are	be	AUX
ejpam-803	324	31	point	point	NOUN
ejpam-803	324	32	msfe	msfe	NOUN
ejpam-803	324	33	“	"	PUNCT
ejpam-803	324	34	better	well	ADJ
ejpam-803	324	35	”	"	PUNCT
ejpam-803	324	36	than	than	ADP
ejpam-803	324	37	the	the	DET
ejpam-803	324	38	benchmark	benchmark	NOUN
ejpam-803	324	39	.	.	PUNCT
ejpam-803	325	1	summarizing	summarize	VERB
ejpam-803	325	2	the	the	DET
ejpam-803	325	3	results	result	NOUN
ejpam-803	325	4	in	in	ADP
ejpam-803	325	5	table	table	NOUN
ejpam-803	325	6	3	3	NUM
ejpam-803	325	7	,	,	PUNCT
ejpam-803	325	8	the	the	DET
ejpam-803	325	9	benchmark	benchmark	NOUN
ejpam-803	325	10	model	model	NOUN
ejpam-803	325	11	does	do	AUX
ejpam-803	325	12	yield	yield	VERB
ejpam-803	325	13	the	the	DET
ejpam-803	325	14	lowest	low	ADJ
ejpam-803	325	15	msfe	msfe	NOUN
ejpam-803	325	16	for	for	ADP
ejpam-803	325	17	3	3	NUM
ejpam-803	325	18	of	of	ADP
ejpam-803	325	19	the	the	DET
ejpam-803	325	20	4	4	NUM
ejpam-803	325	21	variables	variable	NOUN
ejpam-803	325	22	when	when	SCONJ
ejpam-803	325	23	h	h	NOUN
ejpam-803	325	24	=	=	NOUN
ejpam-803	325	25	1	1	NUM
ejpam-803	325	26	and	and	CCONJ
ejpam-803	325	27	for	for	ADP
ejpam-803	325	28	1	1	NUM
ejpam-803	325	29	variable	variable	NOUN
ejpam-803	325	30	when	when	SCONJ
ejpam-803	325	31	h	h	NOUN
ejpam-803	325	32	=	=	NOUN
ejpam-803	325	33	3	3	NUM
ejpam-803	325	34	,	,	PUNCT
ejpam-803	325	35	although	although	SCONJ
ejpam-803	325	36	the	the	DET
ejpam-803	325	37	dm	dm	PROPN
ejpam-803	325	38	test	test	NOUN
ejpam-803	325	39	null	null	NOUN
ejpam-803	325	40	is	be	AUX
ejpam-803	325	41	not	not	PART
ejpam-803	325	42	rejected	reject	VERB
ejpam-803	325	43	in	in	ADP
ejpam-803	325	44	any	any	PRON
ejpam-803	325	45	of	of	ADP
ejpam-803	325	46	these	these	DET
ejpam-803	325	47	cases	case	NOUN
ejpam-803	325	48	.	.	PUNCT
ejpam-803	326	1	furthermore	furthermore	ADV
ejpam-803	326	2	,	,	PUNCT
ejpam-803	326	3	for	for	ADP
ejpam-803	326	4	all	all	DET
ejpam-803	326	5	remaining	remain	VERB
ejpam-803	326	6	horizon	horizon	NOUN
ejpam-803	326	7	/	/	SYM
ejpam-803	326	8	variable	variable	NOUN
ejpam-803	326	9	combinations	combination	NOUN
ejpam-803	326	10	,	,	PUNCT
ejpam-803	326	11	the	the	DET
ejpam-803	326	12	benchmark	benchmark	NOUN
ejpam-803	326	13	does	do	AUX
ejpam-803	326	14	not	not	PART
ejpam-803	326	15	yield	yield	VERB
ejpam-803	326	16	the	the	DET
ejpam-803	326	17	lowest	low	ADJ
ejpam-803	326	18	msfe	msfe	NOUN
ejpam-803	326	19	.	.	PUNCT
ejpam-803	327	1	indeed	indeed	ADV
ejpam-803	327	2	,	,	PUNCT
ejpam-803	327	3	in	in	ADP
ejpam-803	327	4	all	all	PRON
ejpam-803	327	5	but	but	SCONJ
ejpam-803	327	6	one	one	NUM
ejpam-803	327	7	of	of	ADP
ejpam-803	327	8	these	these	DET
ejpam-803	327	9	other	other	ADJ
ejpam-803	327	10	cases	case	NOUN
ejpam-803	327	11	,	,	PUNCT
ejpam-803	327	12	factor	factor	NOUN
ejpam-803	327	13	proxy	proxy	NOUN
ejpam-803	327	14	approaches	approach	NOUN
ejpam-803	327	15	yield	yield	VERB
ejpam-803	327	16	the	the	DET
ejpam-803	327	17	lowest	low	ADJ
ejpam-803	327	18	msfe	msfe	NOUN
ejpam-803	327	19	(	(	PUNCT
ejpam-803	327	20	the	the	DET
ejpam-803	327	21	sole	sole	ADJ
ejpam-803	327	22	exception	exception	NOUN
ejpam-803	327	23	is	be	AUX
ejpam-803	327	24	a	a	DET
ejpam-803	327	25	random	random	ADJ
ejpam-803	327	26	walk	walk	NOUN
ejpam-803	327	27	“	"	PUNCT
ejpam-803	327	28	win	win	NOUN
ejpam-803	327	29	”	"	PUNCT
ejpam-803	327	30	for	for	ADP
ejpam-803	327	31	manufacturing	manufacturing	NOUN
ejpam-803	327	32	and	and	CCONJ
ejpam-803	327	33	trade	trade	NOUN
ejpam-803	327	34	sales	sale	NOUN
ejpam-803	327	35	when	when	SCONJ
ejpam-803	327	36	h=	h=	X
ejpam-803	327	37	3	3	NUM
ejpam-803	327	38	)	)	PUNCT
ejpam-803	327	39	.	.	PUNCT
ejpam-803	328	1	given	give	VERB
ejpam-803	328	2	the	the	DET
ejpam-803	328	3	above	above	ADJ
ejpam-803	328	4	results	result	NOUN
ejpam-803	328	5	,	,	PUNCT
ejpam-803	328	6	it	it	PRON
ejpam-803	328	7	is	be	AUX
ejpam-803	328	8	of	of	ADP
ejpam-803	328	9	interest	interest	NOUN
ejpam-803	328	10	to	to	PART
ejpam-803	328	11	tabulate	tabulate	VERB
ejpam-803	328	12	which	which	DET
ejpam-803	328	13	factor	factor	NOUN
ejpam-803	328	14	proxies	proxy	NOUN
ejpam-803	328	15	were	be	AUX
ejpam-803	328	16	used	use	VERB
ejpam-803	328	17	in	in	ADP
ejpam-803	328	18	n.	n.	PROPN
ejpam-803	328	19	armah	armah	PROPN
ejpam-803	328	20	and	and	CCONJ
ejpam-803	328	21	n.	n.	PROPN
ejpam-803	328	22	swanson	swanson	PROPN
ejpam-803	328	23	/	/	SYM
ejpam-803	328	24	eur	eur	PROPN
ejpam-803	328	25	.	.	PUNCT
ejpam-803	329	1	j.	j.	PROPN
ejpam-803	329	2	pure	pure	PROPN
ejpam-803	329	3	appl	appl	PROPN
ejpam-803	329	4	.	.	PROPN
ejpam-803	329	5	math	math	PROPN
ejpam-803	329	6	,	,	PUNCT
ejpam-803	329	7	3	3	NUM
ejpam-803	329	8	(	(	PUNCT
ejpam-803	329	9	2010	2010	NUM
ejpam-803	329	10	)	)	PUNCT
ejpam-803	329	11	,	,	PUNCT
ejpam-803	329	12	478	478	NUM
ejpam-803	329	13	-	-	SYM
ejpam-803	329	14	501	501	NUM
ejpam-803	329	15	489	489	NUM
ejpam-803	329	16	our	our	PRON
ejpam-803	329	17	prediction	prediction	NOUN
ejpam-803	329	18	experiments	experiment	NOUN
ejpam-803	329	19	.	.	PUNCT
ejpam-803	330	1	this	this	PRON
ejpam-803	330	2	is	be	AUX
ejpam-803	330	3	done	do	VERB
ejpam-803	330	4	in	in	ADP
ejpam-803	330	5	table	table	NOUN
ejpam-803	330	6	1	1	NUM
ejpam-803	330	7	,	,	PUNCT
ejpam-803	330	8	where	where	SCONJ
ejpam-803	330	9	factor	factor	NOUN
ejpam-803	330	10	proxies	proxy	NOUN
ejpam-803	330	11	that	that	PRON
ejpam-803	330	12	are	be	AUX
ejpam-803	330	13	(	(	PUNCT
ejpam-803	330	14	most	most	ADV
ejpam-803	330	15	frequently	frequently	ADV
ejpam-803	330	16	)	)	PUNCT
ejpam-803	330	17	selected	select	VERB
ejpam-803	330	18	using	use	VERB
ejpam-803	330	19	the	the	DET
ejpam-803	330	20	a	a	PROPN
ejpam-803	330	21	(	(	PUNCT
ejpam-803	330	22	j	j	NOUN
ejpam-803	330	23	)	)	PUNCT
ejpam-803	330	24	and	and	CCONJ
ejpam-803	330	25	m	m	PROPN
ejpam-803	330	26	(	(	PUNCT
ejpam-803	330	27	j	j	NOUN
ejpam-803	330	28	)	)	PUNCT
ejpam-803	330	29	test	test	NOUN
ejpam-803	330	30	and	and	CCONJ
ejpam-803	330	31	the	the	DET
ejpam-803	330	32	frequencies	frequency	NOUN
ejpam-803	330	33	with	with	ADP
ejpam-803	330	34	which	which	PRON
ejpam-803	330	35	they	they	PRON
ejpam-803	330	36	are	be	AUX
ejpam-803	330	37	selected	select	VERB
ejpam-803	330	38	are	be	AUX
ejpam-803	330	39	reported	report	VERB
ejpam-803	330	40	.	.	PUNCT
ejpam-803	331	1	the	the	DET
ejpam-803	331	2	second	second	ADJ
ejpam-803	331	3	column	column	NOUN
ejpam-803	331	4	under	under	ADP
ejpam-803	331	5	“	"	PUNCT
ejpam-803	331	6	trans	tran	NOUN
ejpam-803	331	7	”	"	PUNCT
ejpam-803	331	8	indicates	indicate	VERB
ejpam-803	331	9	the	the	DET
ejpam-803	331	10	data	data	NOUN
ejpam-803	331	11	transformation	transformation	NOUN
ejpam-803	331	12	that	that	PRON
ejpam-803	331	13	was	be	AUX
ejpam-803	331	14	performed	perform	VERB
ejpam-803	331	15	to	to	PART
ejpam-803	331	16	induce	induce	VERB
ejpam-803	331	17	data	datum	NOUN
ejpam-803	331	18	stationarity	stationarity	NOUN
ejpam-803	331	19	.	.	PUNCT
ejpam-803	332	1	as	as	SCONJ
ejpam-803	332	2	is	be	AUX
ejpam-803	332	3	evident	evident	ADJ
ejpam-803	332	4	,	,	PUNCT
ejpam-803	332	5	s&p	s&p	PROPN
ejpam-803	332	6	’s	’s	PART
ejpam-803	332	7	common	common	ADJ
ejpam-803	332	8	stock	stock	NOUN
ejpam-803	332	9	price	price	NOUN
ejpam-803	332	10	index	index	NOUN
ejpam-803	332	11	,	,	PUNCT
ejpam-803	332	12	industrials	industrial	NOUN
ejpam-803	332	13	;	;	PUNCT
ejpam-803	332	14	s&p	s&p	PROPN
ejpam-803	332	15	’s	’s	PART
ejpam-803	332	16	common	common	ADJ
ejpam-803	332	17	stock	stock	NOUN
ejpam-803	332	18	price	price	NOUN
ejpam-803	332	19	index	index	NOUN
ejpam-803	332	20	,	,	PUNCT
ejpam-803	332	21	composite	composite	NOUN
ejpam-803	332	22	;	;	PUNCT
ejpam-803	332	23	dividend	dividend	NOUN
ejpam-803	332	24	yields	yield	NOUN
ejpam-803	332	25	,	,	PUNCT
ejpam-803	332	26	a	a	DET
ejpam-803	332	27	1	1	NUM
ejpam-803	332	28	-	-	PUNCT
ejpam-803	332	29	year	year	NOUN
ejpam-803	332	30	bond	bond	NOUN
ejpam-803	332	31	rate	rate	NOUN
ejpam-803	332	32	;	;	PUNCT
ejpam-803	332	33	and	and	CCONJ
ejpam-803	332	34	housing	housing	NOUN
ejpam-803	332	35	starts	start	NOUN
ejpam-803	332	36	are	be	AUX
ejpam-803	332	37	the	the	DET
ejpam-803	332	38	five	five	NUM
ejpam-803	332	39	most	most	ADV
ejpam-803	332	40	common	common	ADJ
ejpam-803	332	41	proxies	proxy	NOUN
ejpam-803	332	42	selected	select	VERB
ejpam-803	332	43	by	by	ADP
ejpam-803	332	44	both	both	PRON
ejpam-803	332	45	a	a	DET
ejpam-803	332	46	(	(	PUNCT
ejpam-803	332	47	j	j	NOUN
ejpam-803	332	48	)	)	PUNCT
ejpam-803	332	49	and	and	CCONJ
ejpam-803	332	50	m	m	PROPN
ejpam-803	332	51	(	(	PUNCT
ejpam-803	332	52	j	j	PROPN
ejpam-803	332	53	)	)	PUNCT
ejpam-803	332	54	.	.	PUNCT
ejpam-803	333	1	structural	structural	ADJ
ejpam-803	333	2	change	change	NOUN
ejpam-803	333	3	could	could	AUX
ejpam-803	333	4	account	account	VERB
ejpam-803	333	5	for	for	ADP
ejpam-803	333	6	some	some	PRON
ejpam-803	333	7	of	of	ADP
ejpam-803	333	8	the	the	DET
ejpam-803	333	9	proxies	proxy	NOUN
ejpam-803	333	10	being	be	AUX
ejpam-803	333	11	selected	select	VERB
ejpam-803	333	12	less	less	ADV
ejpam-803	333	13	frequently	frequently	ADV
ejpam-803	333	14	than	than	ADP
ejpam-803	333	15	the	the	DET
ejpam-803	333	16	five	five	NUM
ejpam-803	333	17	above	above	ADP
ejpam-803	333	18	proxies	proxy	NOUN
ejpam-803	333	19	.	.	PUNCT
ejpam-803	334	1	clearly	clearly	ADV
ejpam-803	334	2	,	,	PUNCT
ejpam-803	334	3	the	the	DET
ejpam-803	334	4	importance	importance	NOUN
ejpam-803	334	5	of	of	ADP
ejpam-803	334	6	proxies	proxy	NOUN
ejpam-803	334	7	may	may	AUX
ejpam-803	334	8	in	in	ADP
ejpam-803	334	9	some	some	DET
ejpam-803	334	10	cases	case	NOUN
ejpam-803	334	11	depend	depend	VERB
ejpam-803	334	12	on	on	ADP
ejpam-803	334	13	the	the	DET
ejpam-803	334	14	period	period	NOUN
ejpam-803	334	15	in	in	ADP
ejpam-803	334	16	history	history	NOUN
ejpam-803	334	17	represented	represent	VERB
ejpam-803	334	18	by	by	ADP
ejpam-803	334	19	the	the	DET
ejpam-803	334	20	data	datum	NOUN
ejpam-803	334	21	.	.	PUNCT
ejpam-803	335	1	however	however	ADV
ejpam-803	335	2	,	,	PUNCT
ejpam-803	335	3	it	it	PRON
ejpam-803	335	4	is	be	AUX
ejpam-803	335	5	interesting	interesting	ADJ
ejpam-803	335	6	that	that	SCONJ
ejpam-803	335	7	a	a	DET
ejpam-803	335	8	variety	variety	NOUN
ejpam-803	335	9	of	of	ADP
ejpam-803	335	10	factor	factor	NOUN
ejpam-803	335	11	proxies	proxy	NOUN
ejpam-803	335	12	are	be	AUX
ejpam-803	335	13	“	"	PUNCT
ejpam-803	335	14	picked	pick	VERB
ejpam-803	335	15	”	"	PUNCT
ejpam-803	335	16	across	across	ADP
ejpam-803	335	17	our	our	PRON
ejpam-803	335	18	entire	entire	ADJ
ejpam-803	335	19	ex	ex	ADJ
ejpam-803	335	20	-	-	ADJ
ejpam-803	335	21	ante	ante	ADJ
ejpam-803	335	22	prediction	prediction	NOUN
ejpam-803	335	23	period	period	NOUN
ejpam-803	335	24	.	.	PUNCT
ejpam-803	336	1	these	these	DET
ejpam-803	336	2	results	result	NOUN
ejpam-803	336	3	,	,	PUNCT
ejpam-803	336	4	as	as	SCONJ
ejpam-803	336	5	was	be	AUX
ejpam-803	336	6	originally	originally	ADV
ejpam-803	336	7	reported	report	VERB
ejpam-803	336	8	in	in	ADP
ejpam-803	336	9	[	[	X
ejpam-803	336	10	1	1	NUM
ejpam-803	336	11	]	]	PUNCT
ejpam-803	336	12	,	,	PUNCT
ejpam-803	336	13	suggest	suggest	VERB
ejpam-803	336	14	that	that	SCONJ
ejpam-803	336	15	factor	factor	NOUN
ejpam-803	336	16	proxies	proxy	NOUN
ejpam-803	336	17	are	be	AUX
ejpam-803	336	18	useful	useful	ADJ
ejpam-803	336	19	for	for	ADP
ejpam-803	336	20	prediction	prediction	NOUN
ejpam-803	336	21	.	.	PUNCT
ejpam-803	337	1	5	5	X
ejpam-803	337	2	.	.	X
ejpam-803	337	3	new	new	ADJ
ejpam-803	337	4	directions	direction	NOUN
ejpam-803	337	5	many	many	ADJ
ejpam-803	337	6	issues	issue	NOUN
ejpam-803	337	7	remain	remain	VERB
ejpam-803	337	8	open	open	ADJ
ejpam-803	337	9	in	in	ADP
ejpam-803	337	10	the	the	DET
ejpam-803	337	11	area	area	NOUN
ejpam-803	337	12	of	of	ADP
ejpam-803	337	13	diffusion	diffusion	NOUN
ejpam-803	337	14	modeling	modeling	NOUN
ejpam-803	337	15	.	.	PUNCT
ejpam-803	338	1	for	for	ADP
ejpam-803	338	2	example	example	NOUN
ejpam-803	338	3	,	,	PUNCT
ejpam-803	338	4	while	while	SCONJ
ejpam-803	338	5	latent	latent	NOUN
ejpam-803	338	6	variables	variable	NOUN
ejpam-803	338	7	may	may	AUX
ejpam-803	338	8	underlie	underlie	VERB
ejpam-803	338	9	much	much	ADJ
ejpam-803	338	10	of	of	ADP
ejpam-803	338	11	the	the	DET
ejpam-803	338	12	systematic	systematic	ADJ
ejpam-803	338	13	movements	movement	NOUN
ejpam-803	338	14	in	in	ADP
ejpam-803	338	15	economic	economic	ADJ
ejpam-803	338	16	variables	variable	NOUN
ejpam-803	338	17	,	,	PUNCT
ejpam-803	338	18	the	the	DET
ejpam-803	338	19	relevance	relevance	NOUN
ejpam-803	338	20	of	of	ADP
ejpam-803	338	21	particular	particular	ADJ
ejpam-803	338	22	latent	latent	NOUN
ejpam-803	338	23	variables	variable	NOUN
ejpam-803	338	24	may	may	AUX
ejpam-803	338	25	differ	differ	VERB
ejpam-803	338	26	markedly	markedly	ADV
ejpam-803	338	27	across	across	ADP
ejpam-803	338	28	different	different	ADJ
ejpam-803	338	29	market	market	NOUN
ejpam-803	338	30	sectors	sector	NOUN
ejpam-803	338	31	.	.	PUNCT
ejpam-803	339	1	also	also	ADV
ejpam-803	339	2	,	,	PUNCT
ejpam-803	339	3	there	there	PRON
ejpam-803	339	4	is	be	VERB
ejpam-803	339	5	clearly	clearly	ADV
ejpam-803	339	6	a	a	DET
ejpam-803	339	7	large	large	ADJ
ejpam-803	339	8	amount	amount	NOUN
ejpam-803	339	9	of	of	ADP
ejpam-803	339	10	excess	excess	ADJ
ejpam-803	339	11	information	information	NOUN
ejpam-803	339	12	in	in	ADP
ejpam-803	339	13	large	large	ADJ
ejpam-803	339	14	-	-	PUNCT
ejpam-803	339	15	scale	scale	NOUN
ejpam-803	339	16	macroeconomic	macroeconomic	ADJ
ejpam-803	339	17	datasets	dataset	NOUN
ejpam-803	339	18	,	,	PUNCT
ejpam-803	339	19	and	and	CCONJ
ejpam-803	339	20	this	this	PRON
ejpam-803	339	21	may	may	AUX
ejpam-803	339	22	cause	cause	VERB
ejpam-803	339	23	factor	factor	NOUN
ejpam-803	339	24	estimates	estimate	NOUN
ejpam-803	339	25	to	to	PART
ejpam-803	339	26	be	be	AUX
ejpam-803	339	27	very	very	ADV
ejpam-803	339	28	noisy	noisy	ADJ
ejpam-803	339	29	.	.	PUNCT
ejpam-803	340	1	it	it	PRON
ejpam-803	340	2	remains	remain	VERB
ejpam-803	340	3	to	to	PART
ejpam-803	340	4	assess	assess	VERB
ejpam-803	340	5	whether	whether	SCONJ
ejpam-803	340	6	other	other	ADJ
ejpam-803	340	7	data	data	NOUN
ejpam-803	340	8	reduction	reduction	NOUN
ejpam-803	340	9	techniques	technique	NOUN
ejpam-803	340	10	such	such	ADJ
ejpam-803	340	11	as	as	ADP
ejpam-803	340	12	boosting	boost	VERB
ejpam-803	340	13	,	,	PUNCT
ejpam-803	340	14	bagging	bagging	NOUN
ejpam-803	340	15	,	,	PUNCT
ejpam-803	340	16	and	and	CCONJ
ejpam-803	340	17	application	application	NOUN
ejpam-803	340	18	of	of	ADP
ejpam-803	340	19	the	the	DET
ejpam-803	340	20	garrotte	garrotte	NOUN
ejpam-803	340	21	or	or	CCONJ
ejpam-803	340	22	various	various	ADJ
ejpam-803	340	23	ridge	ridge	NOUN
ejpam-803	340	24	regression	regression	NOUN
ejpam-803	340	25	techniques	technique	NOUN
ejpam-803	340	26	may	may	AUX
ejpam-803	340	27	prove	prove	VERB
ejpam-803	340	28	useful	useful	ADJ
ejpam-803	340	29	for	for	ADP
ejpam-803	340	30	data	data	NOUN
ejpam-803	340	31	reduction	reduction	NOUN
ejpam-803	340	32	when	when	SCONJ
ejpam-803	340	33	used	use	VERB
ejpam-803	340	34	in	in	ADP
ejpam-803	340	35	conjunction	conjunction	NOUN
ejpam-803	340	36	with	with	ADP
ejpam-803	340	37	diffusion	diffusion	NOUN
ejpam-803	340	38	indices	index	NOUN
ejpam-803	340	39	.	.	PUNCT
ejpam-803	341	1	more	more	ADV
ejpam-803	341	2	flexible	flexible	ADJ
ejpam-803	341	3	nonlinear	nonlinear	ADJ
ejpam-803	341	4	methods	method	NOUN
ejpam-803	341	5	for	for	ADP
ejpam-803	341	6	incorporating	incorporate	VERB
ejpam-803	341	7	factors	factor	NOUN
ejpam-803	341	8	into	into	ADP
ejpam-803	341	9	prediction	prediction	NOUN
ejpam-803	341	10	models	model	NOUN
ejpam-803	341	11	also	also	ADV
ejpam-803	341	12	remains	remain	VERB
ejpam-803	341	13	to	to	PART
ejpam-803	341	14	be	be	AUX
ejpam-803	341	15	explored	explore	VERB
ejpam-803	341	16	in	in	ADP
ejpam-803	341	17	detail	detail	NOUN
ejpam-803	341	18	,	,	PUNCT
ejpam-803	341	19	although	although	SCONJ
ejpam-803	341	20	[	[	X
ejpam-803	341	21	6	6	NUM
ejpam-803	341	22	]	]	PUNCT
ejpam-803	341	23	propose	propose	VERB
ejpam-803	341	24	a	a	DET
ejpam-803	341	25	more	more	ADV
ejpam-803	341	26	flexible	flexible	ADJ
ejpam-803	341	27	structure	structure	NOUN
ejpam-803	341	28	that	that	PRON
ejpam-803	341	29	allows	allow	VERB
ejpam-803	341	30	the	the	DET
ejpam-803	341	31	relationship	relationship	NOUN
ejpam-803	341	32	between	between	ADP
ejpam-803	341	33	the	the	DET
ejpam-803	341	34	predictors	predictor	NOUN
ejpam-803	341	35	and	and	CCONJ
ejpam-803	341	36	factors	factor	NOUN
ejpam-803	341	37	to	to	PART
ejpam-803	341	38	be	be	AUX
ejpam-803	341	39	non	non	ADJ
ejpam-803	341	40	-	-	ADJ
ejpam-803	341	41	linear	linear	ADJ
ejpam-803	341	42	.	.	PUNCT
ejpam-803	342	1	they	they	PRON
ejpam-803	342	2	use	use	VERB
ejpam-803	342	3	a	a	DET
ejpam-803	342	4	non	non	ADJ
ejpam-803	342	5	-	-	ADJ
ejpam-803	342	6	linear	linear	ADJ
ejpam-803	342	7	“	"	PUNCT
ejpam-803	342	8	link	link	NOUN
ejpam-803	342	9	”	"	PUNCT
ejpam-803	342	10	function	function	NOUN
ejpam-803	342	11	that	that	PRON
ejpam-803	342	12	involves	involve	VERB
ejpam-803	342	13	expanding	expand	VERB
ejpam-803	342	14	the	the	DET
ejpam-803	342	15	set	set	NOUN
ejpam-803	342	16	of	of	ADP
ejpam-803	342	17	predictors	predictor	NOUN
ejpam-803	342	18	to	to	PART
ejpam-803	342	19	include	include	VERB
ejpam-803	342	20	non	non	ADJ
ejpam-803	342	21	-	-	ADJ
ejpam-803	342	22	linear	linear	ADJ
ejpam-803	342	23	functions	function	NOUN
ejpam-803	342	24	of	of	ADP
ejpam-803	342	25	the	the	DET
ejpam-803	342	26	observed	observed	ADJ
ejpam-803	342	27	variables	variable	NOUN
ejpam-803	342	28	.	.	PUNCT
ejpam-803	343	1	in	in	ADP
ejpam-803	343	2	general	general	ADJ
ejpam-803	343	3	,	,	PUNCT
ejpam-803	343	4	though	though	ADV
ejpam-803	343	5	,	,	PUNCT
ejpam-803	343	6	little	little	ADJ
ejpam-803	343	7	is	be	AUX
ejpam-803	343	8	known	know	VERB
ejpam-803	343	9	about	about	ADP
ejpam-803	343	10	the	the	DET
ejpam-803	343	11	usefulness	usefulness	NOUN
ejpam-803	343	12	or	or	CCONJ
ejpam-803	343	13	relevance	relevance	NOUN
ejpam-803	343	14	of	of	ADP
ejpam-803	343	15	implementing	implement	VERB
ejpam-803	343	16	diffusion	diffusion	NOUN
ejpam-803	343	17	methodology	methodology	NOUN
ejpam-803	343	18	in	in	ADP
ejpam-803	343	19	generic	generic	ADJ
ejpam-803	343	20	nonlinear	nonlinear	ADJ
ejpam-803	343	21	settings	setting	NOUN
ejpam-803	343	22	,	,	PUNCT
ejpam-803	343	23	such	such	ADJ
ejpam-803	343	24	as	as	ADP
ejpam-803	343	25	when	when	SCONJ
ejpam-803	343	26	specifying	specify	VERB
ejpam-803	343	27	artificial	artificial	ADJ
ejpam-803	343	28	neural	neural	ADJ
ejpam-803	343	29	networks	network	NOUN
ejpam-803	343	30	.	.	PUNCT
ejpam-803	344	1	moreover	moreover	ADV
ejpam-803	344	2	,	,	PUNCT
ejpam-803	344	3	issues	issue	NOUN
ejpam-803	344	4	of	of	ADP
ejpam-803	344	5	over	over	ADV
ejpam-803	344	6	-	-	PUNCT
ejpam-803	344	7	fitting	fit	VERB
ejpam-803	344	8	associated	associate	VERB
ejpam-803	344	9	with	with	ADP
ejpam-803	344	10	the	the	DET
ejpam-803	344	11	use	use	NOUN
ejpam-803	344	12	of	of	ADP
ejpam-803	344	13	largescale	largescale	ADJ
ejpam-803	344	14	datasets	dataset	NOUN
ejpam-803	344	15	that	that	PRON
ejpam-803	344	16	are	be	AUX
ejpam-803	344	17	ever	ever	ADV
ejpam-803	344	18	growing	grow	VERB
ejpam-803	344	19	as	as	SCONJ
ejpam-803	344	20	new	new	ADJ
ejpam-803	344	21	information	information	NOUN
ejpam-803	344	22	is	be	AUX
ejpam-803	344	23	accumulated	accumulate	VERB
ejpam-803	344	24	and	and	CCONJ
ejpam-803	344	25	new	new	ADJ
ejpam-803	344	26	variables	variable	NOUN
ejpam-803	344	27	are	be	AUX
ejpam-803	344	28	measured	measure	VERB
ejpam-803	344	29	are	be	AUX
ejpam-803	344	30	of	of	ADP
ejpam-803	344	31	some	some	DET
ejpam-803	344	32	import	import	NOUN
ejpam-803	344	33	.	.	PUNCT
ejpam-803	345	1	for	for	ADP
ejpam-803	345	2	example	example	NOUN
ejpam-803	345	3	,	,	PUNCT
ejpam-803	345	4	when	when	SCONJ
ejpam-803	345	5	applying	apply	VERB
ejpam-803	345	6	classical	classical	ADJ
ejpam-803	345	7	tests	test	NOUN
ejpam-803	345	8	with	with	ADP
ejpam-803	345	9	fixed	fix	VERB
ejpam-803	345	10	significance	significance	NOUN
ejpam-803	345	11	levels	level	NOUN
ejpam-803	345	12	in	in	ADP
ejpam-803	345	13	diffusion	diffusion	NOUN
ejpam-803	345	14	index	index	NOUN
ejpam-803	345	15	modeling	modeling	NOUN
ejpam-803	345	16	,	,	PUNCT
ejpam-803	345	17	sequential	sequential	ADJ
ejpam-803	345	18	test	test	NOUN
ejpam-803	345	19	biases	bias	NOUN
ejpam-803	345	20	such	such	ADJ
ejpam-803	345	21	as	as	ADP
ejpam-803	345	22	those	those	PRON
ejpam-803	345	23	that	that	PRON
ejpam-803	345	24	arise	arise	VERB
ejpam-803	345	25	when	when	SCONJ
ejpam-803	345	26	comparing	compare	VERB
ejpam-803	345	27	numerous	numerous	ADJ
ejpam-803	345	28	different	different	ADJ
ejpam-803	345	29	prediction	prediction	NOUN
ejpam-803	345	30	models	model	NOUN
ejpam-803	345	31	become	become	VERB
ejpam-803	345	32	relevant	relevant	ADJ
ejpam-803	345	33	.	.	PUNCT
ejpam-803	346	1	other	other	ADJ
ejpam-803	346	2	issues	issue	NOUN
ejpam-803	346	3	related	relate	VERB
ejpam-803	346	4	to	to	ADP
ejpam-803	346	5	nonstationarity	nonstationarity	NOUN
ejpam-803	346	6	considerations	consideration	NOUN
ejpam-803	346	7	also	also	ADV
ejpam-803	346	8	remain	remain	VERB
ejpam-803	346	9	open	open	ADJ
ejpam-803	346	10	.	.	PUNCT
ejpam-803	347	1	for	for	ADP
ejpam-803	347	2	example	example	NOUN
ejpam-803	347	3	,	,	PUNCT
ejpam-803	347	4	are	be	AUX
ejpam-803	347	5	subsets	subset	NOUN
ejpam-803	347	6	of	of	ADP
ejpam-803	347	7	the	the	DET
ejpam-803	347	8	latent	latent	NOUN
ejpam-803	347	9	variables	variable	NOUN
ejpam-803	347	10	estimated	estimate	VERB
ejpam-803	347	11	using	use	VERB
ejpam-803	347	12	factors	factor	NOUN
ejpam-803	347	13	cointegrated	cointegrate	VERB
ejpam-803	347	14	,	,	PUNCT
ejpam-803	347	15	and	and	CCONJ
ejpam-803	347	16	if	if	SCONJ
ejpam-803	347	17	so	so	ADV
ejpam-803	347	18	what	what	PRON
ejpam-803	347	19	are	be	AUX
ejpam-803	347	20	the	the	DET
ejpam-803	347	21	implications	implication	NOUN
ejpam-803	347	22	for	for	ADP
ejpam-803	347	23	prediction	prediction	NOUN
ejpam-803	347	24	?	?	PUNCT
ejpam-803	348	1	does	do	AUX
ejpam-803	348	2	the	the	DET
ejpam-803	348	3	data	data	NOUN
ejpam-803	348	4	transformation	transformation	NOUN
ejpam-803	348	5	undertaken	undertake	VERB
ejpam-803	348	6	to	to	PART
ejpam-803	348	7	impose	impose	VERB
ejpam-803	348	8	stationarity	stationarity	NOUN
ejpam-803	348	9	on	on	ADP
ejpam-803	348	10	variables	variable	NOUN
ejpam-803	348	11	in	in	ADP
ejpam-803	348	12	large	large	ADJ
ejpam-803	348	13	-	-	PUNCT
ejpam-803	348	14	scale	scale	NOUN
ejpam-803	348	15	datasets	dataset	NOUN
ejpam-803	348	16	have	have	VERB
ejpam-803	348	17	an	an	DET
ejpam-803	348	18	impact	impact	NOUN
ejpam-803	348	19	on	on	ADP
ejpam-803	348	20	findings	finding	NOUN
ejpam-803	348	21	of	of	ADP
ejpam-803	348	22	stationarity	stationarity	NOUN
ejpam-803	348	23	and	and	CCONJ
ejpam-803	348	24	cointegration	cointegration	NOUN
ejpam-803	348	25	,	,	PUNCT
ejpam-803	348	26	and	and	CCONJ
ejpam-803	348	27	more	more	ADV
ejpam-803	348	28	generally	generally	ADV
ejpam-803	348	29	on	on	ADP
ejpam-803	348	30	the	the	DET
ejpam-803	348	31	extraction	extraction	NOUN
ejpam-803	348	32	of	of	ADP
ejpam-803	348	33	factors	factor	NOUN
ejpam-803	348	34	?	?	PUNCT
ejpam-803	349	1	references	reference	NOUN
ejpam-803	349	2	490	490	NUM
ejpam-803	349	3	6	6	NUM
ejpam-803	349	4	.	.	PUNCT
ejpam-803	349	5	concluding	conclude	VERB
ejpam-803	349	6	remarks	remark	NOUN
ejpam-803	349	7	in	in	ADP
ejpam-803	349	8	this	this	DET
ejpam-803	349	9	paper	paper	NOUN
ejpam-803	349	10	,	,	PUNCT
ejpam-803	349	11	we	we	PRON
ejpam-803	349	12	review	review	VERB
ejpam-803	349	13	some	some	DET
ejpam-803	349	14	recent	recent	ADJ
ejpam-803	349	15	results	result	NOUN
ejpam-803	349	16	on	on	ADP
ejpam-803	349	17	diffusion	diffusion	NOUN
ejpam-803	349	18	index	index	NOUN
ejpam-803	349	19	modeling	modeling	NOUN
ejpam-803	349	20	and	and	CCONJ
ejpam-803	349	21	suggest	suggest	VERB
ejpam-803	349	22	that	that	SCONJ
ejpam-803	349	23	these	these	DET
ejpam-803	349	24	new	new	ADJ
ejpam-803	349	25	methods	method	NOUN
ejpam-803	349	26	appear	appear	VERB
ejpam-803	349	27	promising	promise	VERB
ejpam-803	349	28	,	,	PUNCT
ejpam-803	349	29	although	although	SCONJ
ejpam-803	349	30	many	many	ADJ
ejpam-803	349	31	issues	issue	NOUN
ejpam-803	349	32	remain	remain	VERB
ejpam-803	349	33	open	open	ADJ
ejpam-803	349	34	when	when	SCONJ
ejpam-803	349	35	using	use	VERB
ejpam-803	349	36	diffusion	diffusion	NOUN
ejpam-803	349	37	indices	index	NOUN
ejpam-803	349	38	in	in	ADP
ejpam-803	349	39	the	the	DET
ejpam-803	349	40	specification	specification	NOUN
ejpam-803	349	41	of	of	ADP
ejpam-803	349	42	prediction	prediction	NOUN
ejpam-803	349	43	models	model	NOUN
ejpam-803	349	44	.	.	PUNCT
ejpam-803	350	1	acknowledgements	acknowledgement	NOUN
ejpam-803	350	2	thanks	thank	NOUN
ejpam-803	350	3	are	be	AUX
ejpam-803	350	4	owed	owe	VERB
ejpam-803	350	5	to	to	ADP
ejpam-803	350	6	roberto	roberto	PROPN
ejpam-803	350	7	chang	chang	PROPN
ejpam-803	350	8	,	,	PUNCT
ejpam-803	350	9	valentina	valentina	PROPN
ejpam-803	350	10	corradi	corradi	PROPN
ejpam-803	350	11	,	,	PUNCT
ejpam-803	350	12	roger	roger	PROPN
ejpam-803	350	13	klein	klein	PROPN
ejpam-803	350	14	,	,	PUNCT
ejpam-803	350	15	esfandia	esfandia	NOUN
ejpam-803	350	16	maasoumi	maasoumi	PROPN
ejpam-803	350	17	,	,	PUNCT
ejpam-803	350	18	marcelo	marcelo	PROPN
ejpam-803	350	19	medeiros	medeiros	PROPN
ejpam-803	350	20	,	,	PUNCT
ejpam-803	350	21	serena	serena	PROPN
ejpam-803	350	22	ng	ng	PROPN
ejpam-803	350	23	,	,	PUNCT
ejpam-803	350	24	greg	greg	PROPN
ejpam-803	350	25	tkacz	tkacz	NOUN
ejpam-803	350	26	,	,	PUNCT
ejpam-803	350	27	as	as	ADV
ejpam-803	350	28	well	well	ADV
ejpam-803	350	29	as	as	ADP
ejpam-803	350	30	to	to	ADP
ejpam-803	350	31	participants	participant	NOUN
ejpam-803	350	32	of	of	ADP
ejpam-803	350	33	the	the	DET
ejpam-803	350	34	conference	conference	NOUN
ejpam-803	350	35	on	on	ADP
ejpam-803	350	36	“	"	PUNCT
ejpam-803	350	37	real	real	ADJ
ejpam-803	350	38	-	-	PUNCT
ejpam-803	350	39	time	time	NOUN
ejpam-803	350	40	data	datum	NOUN
ejpam-803	350	41	”	"	PUNCT
ejpam-803	350	42	at	at	ADP
ejpam-803	350	43	the	the	DET
ejpam-803	350	44	philadelphia	philadelphia	PROPN
ejpam-803	350	45	federal	federal	PROPN
ejpam-803	350	46	reserve	reserve	PROPN
ejpam-803	350	47	bank	bank	PROPN
ejpam-803	350	48	in	in	ADP
ejpam-803	350	49	2009	2009	NUM
ejpam-803	350	50	and	and	CCONJ
ejpam-803	350	51	seminar	seminar	NOUN
ejpam-803	350	52	participants	participant	NOUN
ejpam-803	350	53	at	at	ADP
ejpam-803	350	54	the	the	DET
ejpam-803	350	55	bank	bank	PROPN
ejpam-803	350	56	of	of	ADP
ejpam-803	350	57	canada	canada	PROPN
ejpam-803	350	58	.	.	PUNCT
ejpam-803	351	1	all	all	PRON
ejpam-803	351	2	provided	provide	VERB
ejpam-803	351	3	many	many	ADJ
ejpam-803	351	4	useful	useful	ADJ
ejpam-803	351	5	comments	comment	NOUN
ejpam-803	351	6	on	on	ADP
ejpam-803	351	7	the	the	DET
ejpam-803	351	8	research	research	NOUN
ejpam-803	351	9	agenda	agenda	NOUN
ejpam-803	351	10	that	that	PRON
ejpam-803	351	11	led	lead	VERB
ejpam-803	351	12	to	to	ADP
ejpam-803	351	13	the	the	DET
ejpam-803	351	14	writing	writing	NOUN
ejpam-803	351	15	of	of	ADP
ejpam-803	351	16	this	this	DET
ejpam-803	351	17	paper	paper	NOUN
ejpam-803	351	18	.	.	PUNCT
ejpam-803	352	1	the	the	DET
ejpam-803	352	2	authors	author	NOUN
ejpam-803	352	3	also	also	ADV
ejpam-803	352	4	wish	wish	VERB
ejpam-803	352	5	to	to	PART
ejpam-803	352	6	thank	thank	VERB
ejpam-803	352	7	the	the	DET
ejpam-803	352	8	editor	editor	NOUN
ejpam-803	352	9	of	of	ADP
ejpam-803	352	10	the	the	DET
ejpam-803	352	11	european	european	PROPN
ejpam-803	352	12	journal	journal	PROPN
ejpam-803	352	13	of	of	ADP
ejpam-803	352	14	pure	pure	ADJ
ejpam-803	352	15	and	and	CCONJ
ejpam-803	352	16	applied	applied	ADJ
ejpam-803	352	17	mathematics	mathematic	NOUN
ejpam-803	352	18	,	,	PUNCT
ejpam-803	352	19	eyup	eyup	NOUN
ejpam-803	352	20	cetin	cetin	PROPN
ejpam-803	352	21	,	,	PUNCT
ejpam-803	352	22	for	for	ADP
ejpam-803	352	23	inviting	invite	VERB
ejpam-803	352	24	our	our	PRON
ejpam-803	352	25	contribution	contribution	NOUN
ejpam-803	352	26	to	to	ADP
ejpam-803	352	27	this	this	DET
ejpam-803	352	28	special	special	ADJ
ejpam-803	352	29	issue	issue	NOUN
ejpam-803	352	30	honoring	honor	VERB
ejpam-803	352	31	the	the	DET
ejpam-803	352	32	academic	academic	ADJ
ejpam-803	352	33	achievements	achievement	NOUN
ejpam-803	352	34	of	of	ADP
ejpam-803	352	35	sir	sir	PROPN
ejpam-803	352	36	clive	clive	PROPN
ejpam-803	352	37	w.j	w.j	PROPN
ejpam-803	353	1	.	.	PROPN
ejpam-803	353	2	granger	granger	PROPN
ejpam-803	353	3	,	,	PUNCT
ejpam-803	353	4	whose	whose	DET
ejpam-803	353	5	untimely	untimely	ADJ
ejpam-803	353	6	recent	recent	ADJ
ejpam-803	353	7	passing	passing	NOUN
ejpam-803	353	8	has	have	AUX
ejpam-803	353	9	saddened	sadden	VERB
ejpam-803	353	10	the	the	DET
ejpam-803	353	11	entire	entire	ADJ
ejpam-803	353	12	academic	academic	ADJ
ejpam-803	353	13	community	community	NOUN
ejpam-803	353	14	.	.	PUNCT
ejpam-803	354	1	references	reference	NOUN
ejpam-803	354	2	[	[	X
ejpam-803	354	3	1	1	NUM
ejpam-803	354	4	]	]	PUNCT
ejpam-803	354	5	n	n	PRON
ejpam-803	354	6	armah	armah	NOUN
ejpam-803	354	7	and	and	CCONJ
ejpam-803	354	8	n	n	DET
ejpam-803	354	9	swanson	swanson	NOUN
ejpam-803	354	10	.	.	PUNCT
ejpam-803	355	1	seeing	see	VERB
ejpam-803	355	2	inside	inside	ADP
ejpam-803	355	3	the	the	DET
ejpam-803	355	4	black	black	ADJ
ejpam-803	355	5	box	box	NOUN
ejpam-803	355	6	:	:	PUNCT
ejpam-803	355	7	using	use	VERB
ejpam-803	355	8	diffusion	diffusion	NOUN
ejpam-803	355	9	index	index	NOUN
ejpam-803	355	10	methodology	methodology	NOUN
ejpam-803	355	11	to	to	PART
ejpam-803	355	12	construct	construct	VERB
ejpam-803	355	13	factor	factor	NOUN
ejpam-803	355	14	proxies	proxy	NOUN
ejpam-803	355	15	in	in	ADP
ejpam-803	355	16	largescale	largescale	ADJ
ejpam-803	355	17	macroeconomic	macroeconomic	ADJ
ejpam-803	355	18	time	time	NOUN
ejpam-803	355	19	series	series	PROPN
ejpam-803	355	20	environments	environment	NOUN
ejpam-803	355	21	.	.	PUNCT
ejpam-803	356	1	economic	economic	ADJ
ejpam-803	356	2	reviews	review	NOUN
ejpam-803	356	3	,	,	PUNCT
ejpam-803	356	4	forthcoming	forthcoming	ADJ
ejpam-803	356	5	,	,	PUNCT
ejpam-803	356	6	2010	2010	NUM
ejpam-803	356	7	.	.	PUNCT
ejpam-803	357	1	[	[	X
ejpam-803	357	2	2	2	NUM
ejpam-803	357	3	]	]	X
ejpam-803	357	4	j	j	PROPN
ejpam-803	357	5	bai	bai	PROPN
ejpam-803	357	6	.	.	PUNCT
ejpam-803	358	1	inferential	inferential	ADJ
ejpam-803	358	2	theory	theory	NOUN
ejpam-803	358	3	for	for	ADP
ejpam-803	358	4	factor	factor	NOUN
ejpam-803	358	5	models	model	NOUN
ejpam-803	358	6	of	of	ADP
ejpam-803	358	7	large	large	ADJ
ejpam-803	358	8	dimensions	dimension	NOUN
ejpam-803	358	9	.	.	PUNCT
ejpam-803	359	1	econometrica	econometrica	PROPN
ejpam-803	359	2	,	,	PUNCT
ejpam-803	359	3	71(1):135	71(1):135	NOUN
ejpam-803	359	4	–	–	PUNCT
ejpam-803	359	5	172	172	NUM
ejpam-803	359	6	,	,	PUNCT
ejpam-803	359	7	2003	2003	NUM
ejpam-803	359	8	.	.	PUNCT
ejpam-803	360	1	[	[	X
ejpam-803	360	2	3	3	X
ejpam-803	360	3	]	]	X
ejpam-803	360	4	j	j	PROPN
ejpam-803	360	5	bai	bai	PROPN
ejpam-803	360	6	and	and	CCONJ
ejpam-803	360	7	s	s	PROPN
ejpam-803	360	8	ng	ng	PROPN
ejpam-803	360	9	.	.	PUNCT
ejpam-803	360	10	determining	determine	VERB
ejpam-803	360	11	the	the	DET
ejpam-803	360	12	number	number	NOUN
ejpam-803	360	13	of	of	ADP
ejpam-803	360	14	factors	factor	NOUN
ejpam-803	360	15	in	in	ADP
ejpam-803	360	16	approximate	approximate	ADJ
ejpam-803	360	17	factor	factor	NOUN
ejpam-803	360	18	models	model	NOUN
ejpam-803	360	19	.	.	PUNCT
ejpam-803	361	1	econometrica	econometrica	PROPN
ejpam-803	361	2	,	,	PUNCT
ejpam-803	361	3	70:192–221	70:192–221	PROPN
ejpam-803	361	4	,	,	PUNCT
ejpam-803	361	5	2002	2002	NUM
ejpam-803	361	6	.	.	PUNCT
ejpam-803	362	1	[	[	X
ejpam-803	362	2	4	4	X
ejpam-803	362	3	]	]	X
ejpam-803	362	4	j	j	PROPN
ejpam-803	362	5	bai	bai	PROPN
ejpam-803	362	6	and	and	CCONJ
ejpam-803	362	7	s	s	PROPN
ejpam-803	362	8	ng	ng	PROPN
ejpam-803	362	9	.	.	PUNCT
ejpam-803	362	10	confidence	confidence	NOUN
ejpam-803	362	11	intervals	interval	NOUN
ejpam-803	362	12	for	for	ADP
ejpam-803	362	13	diffusion	diffusion	NOUN
ejpam-803	362	14	index	index	NOUN
ejpam-803	362	15	forecasts	forecast	NOUN
ejpam-803	362	16	and	and	CCONJ
ejpam-803	362	17	inference	inference	NOUN
ejpam-803	362	18	for	for	ADP
ejpam-803	362	19	factor	factor	NOUN
ejpam-803	362	20	-	-	PUNCT
ejpam-803	362	21	augmented	augment	VERB
ejpam-803	362	22	regressions	regression	NOUN
ejpam-803	362	23	.	.	PUNCT
ejpam-803	363	1	econometrica	econometrica	PROPN
ejpam-803	363	2	,	,	PUNCT
ejpam-803	363	3	74(4):1133–1150	74(4):1133–1150	NOUN
ejpam-803	363	4	,	,	PUNCT
ejpam-803	363	5	2006	2006	NUM
ejpam-803	363	6	.	.	PUNCT
ejpam-803	364	1	[	[	X
ejpam-803	364	2	5	5	NUM
ejpam-803	364	3	]	]	X
ejpam-803	364	4	j	j	PROPN
ejpam-803	364	5	bai	bai	PROPN
ejpam-803	364	6	and	and	CCONJ
ejpam-803	364	7	s	s	PROPN
ejpam-803	364	8	ng	ng	PROPN
ejpam-803	364	9	.	.	PUNCT
ejpam-803	364	10	evaluating	evaluate	VERB
ejpam-803	364	11	latent	latent	NOUN
ejpam-803	364	12	and	and	CCONJ
ejpam-803	364	13	observed	observed	ADJ
ejpam-803	364	14	factors	factor	NOUN
ejpam-803	364	15	in	in	ADP
ejpam-803	364	16	macroeconomics	macroeconomic	NOUN
ejpam-803	364	17	and	and	CCONJ
ejpam-803	364	18	finance	finance	NOUN
ejpam-803	364	19	.	.	PUNCT
ejpam-803	365	1	journal	journal	PROPN
ejpam-803	365	2	of	of	ADP
ejpam-803	365	3	econometrics	econometric	NOUN
ejpam-803	365	4	,	,	PUNCT
ejpam-803	365	5	113:507–537	113:507–537	NUM
ejpam-803	365	6	,	,	PUNCT
ejpam-803	365	7	2006	2006	NUM
ejpam-803	365	8	.	.	PUNCT
ejpam-803	366	1	[	[	X
ejpam-803	366	2	6	6	NUM
ejpam-803	366	3	]	]	X
ejpam-803	366	4	j	j	PROPN
ejpam-803	366	5	bai	bai	PROPN
ejpam-803	366	6	and	and	CCONJ
ejpam-803	366	7	s	s	PROPN
ejpam-803	366	8	ng	ng	PROPN
ejpam-803	366	9	.	.	PUNCT
ejpam-803	366	10	forecasting	forecast	VERB
ejpam-803	366	11	economic	economic	ADJ
ejpam-803	366	12	time	time	NOUN
ejpam-803	366	13	series	series	PROPN
ejpam-803	366	14	using	use	VERB
ejpam-803	366	15	targeted	target	VERB
ejpam-803	366	16	predictors	predictor	NOUN
ejpam-803	366	17	.	.	PUNCT
ejpam-803	367	1	working	work	VERB
ejpam-803	367	2	paper	paper	NOUN
ejpam-803	367	3	,	,	PUNCT
ejpam-803	367	4	university	university	PROPN
ejpam-803	367	5	of	of	ADP
ejpam-803	367	6	michigan	michigan	PROPN
ejpam-803	367	7	,	,	PUNCT
ejpam-803	367	8	ann	ann	PROPN
ejpam-803	367	9	-	-	PUNCT
ejpam-803	367	10	arbor	arbor	PROPN
ejpam-803	367	11	,	,	PUNCT
ejpam-803	367	12	2006	2006	NUM
ejpam-803	367	13	.	.	PUNCT
ejpam-803	368	1	[	[	X
ejpam-803	368	2	7	7	X
ejpam-803	368	3	]	]	X
ejpam-803	368	4	j	j	PROPN
ejpam-803	368	5	bai	bai	PROPN
ejpam-803	368	6	and	and	CCONJ
ejpam-803	368	7	s	s	PROPN
ejpam-803	368	8	ng	ng	PROPN
ejpam-803	368	9	.	.	PUNCT
ejpam-803	368	10	determining	determine	VERB
ejpam-803	368	11	the	the	DET
ejpam-803	368	12	number	number	NOUN
ejpam-803	368	13	of	of	ADP
ejpam-803	368	14	primitive	primitive	ADJ
ejpam-803	368	15	shocks	shock	NOUN
ejpam-803	368	16	in	in	ADP
ejpam-803	368	17	factor	factor	NOUN
ejpam-803	368	18	models	model	NOUN
ejpam-803	368	19	.	.	PUNCT
ejpam-803	369	1	journal	journal	NOUN
ejpam-803	369	2	of	of	ADP
ejpam-803	369	3	business	business	NOUN
ejpam-803	369	4	and	and	CCONJ
ejpam-803	369	5	economic	economic	ADJ
ejpam-803	369	6	statistics	statistic	NOUN
ejpam-803	369	7	,	,	PUNCT
ejpam-803	369	8	25:52–60	25:52–60	PROPN
ejpam-803	369	9	,	,	PUNCT
ejpam-803	369	10	2007	2007	NUM
ejpam-803	369	11	.	.	PUNCT
ejpam-803	370	1	[	[	X
ejpam-803	370	2	8	8	NUM
ejpam-803	370	3	]	]	X
ejpam-803	370	4	j	j	PROPN
ejpam-803	370	5	boivin	boivin	PROPN
ejpam-803	370	6	and	and	CCONJ
ejpam-803	370	7	s	s	PROPN
ejpam-803	370	8	ng	ng	PROPN
ejpam-803	370	9	.	.	PUNCT
ejpam-803	370	10	understanding	understanding	NOUN
ejpam-803	370	11	and	and	CCONJ
ejpam-803	370	12	comparing	compare	VERB
ejpam-803	370	13	factor	factor	NOUN
ejpam-803	370	14	based	base	VERB
ejpam-803	370	15	macroeconomic	macroeconomic	ADJ
ejpam-803	370	16	forecasts	forecast	NOUN
ejpam-803	370	17	.	.	PUNCT
ejpam-803	371	1	international	international	ADJ
ejpam-803	371	2	journal	journal	PROPN
ejpam-803	371	3	of	of	ADP
ejpam-803	371	4	central	central	ADJ
ejpam-803	371	5	banking	banking	NOUN
ejpam-803	371	6	,	,	PUNCT
ejpam-803	371	7	1(3):117–152	1(3):117–152	NUM
ejpam-803	371	8	,	,	PUNCT
ejpam-803	371	9	2005	2005	NUM
ejpam-803	371	10	.	.	PUNCT
ejpam-803	372	1	[	[	X
ejpam-803	372	2	9	9	NUM
ejpam-803	372	3	]	]	X
ejpam-803	372	4	f	f	X
ejpam-803	372	5	diebold	diebold	VERB
ejpam-803	372	6	and	and	CCONJ
ejpam-803	372	7	r	r	NOUN
ejpam-803	372	8	mariano	mariano	ADJ
ejpam-803	372	9	.	.	PUNCT
ejpam-803	373	1	comparing	compare	VERB
ejpam-803	373	2	predictive	predictive	ADJ
ejpam-803	373	3	accuracy	accuracy	NOUN
ejpam-803	373	4	.	.	PUNCT
ejpam-803	374	1	journal	journal	NOUN
ejpam-803	374	2	of	of	ADP
ejpam-803	374	3	business	business	NOUN
ejpam-803	374	4	and	and	CCONJ
ejpam-803	374	5	economic	economic	ADJ
ejpam-803	374	6	statistics	statistic	NOUN
ejpam-803	374	7	,	,	PUNCT
ejpam-803	374	8	13:253–263	13:253–263	NUM
ejpam-803	374	9	,	,	PUNCT
ejpam-803	374	10	1995	1995	NUM
ejpam-803	374	11	.	.	PUNCT
ejpam-803	375	1	references	reference	NOUN
ejpam-803	375	2	491	491	NUM
ejpam-803	375	3	[	[	X
ejpam-803	375	4	10	10	NUM
ejpam-803	375	5	]	]	X
ejpam-803	375	6	a	a	DET
ejpam-803	375	7	ding	ding	NOUN
ejpam-803	375	8	and	and	CCONJ
ejpam-803	375	9	j	j	PROPN
ejpam-803	375	10	hwang	hwang	PROPN
ejpam-803	375	11	.	.	PUNCT
ejpam-803	376	1	prediction	prediction	NOUN
ejpam-803	376	2	intervals	interval	NOUN
ejpam-803	376	3	,	,	PUNCT
ejpam-803	376	4	factor	factor	NOUN
ejpam-803	376	5	analysis	analysis	NOUN
ejpam-803	376	6	models	model	NOUN
ejpam-803	376	7	,	,	PUNCT
ejpam-803	376	8	and	and	CCONJ
ejpam-803	376	9	high	high	ADV
ejpam-803	376	10	-	-	PUNCT
ejpam-803	376	11	dimensional	dimensional	ADJ
ejpam-803	376	12	empirical	empirical	ADJ
ejpam-803	376	13	linear	linear	NOUN
ejpam-803	376	14	prediction	prediction	NOUN
ejpam-803	376	15	.	.	PUNCT
ejpam-803	377	1	journal	journal	NOUN
ejpam-803	377	2	of	of	ADP
ejpam-803	377	3	the	the	DET
ejpam-803	377	4	american	american	PROPN
ejpam-803	377	5	statistical	statistical	PROPN
ejpam-803	377	6	association	association	NOUN
ejpam-803	377	7	,	,	PUNCT
ejpam-803	377	8	95:446–455	95:446–455	PROPN
ejpam-803	377	9	,	,	PUNCT
ejpam-803	377	10	1999	1999	NUM
ejpam-803	377	11	.	.	PUNCT
ejpam-803	378	1	[	[	X
ejpam-803	378	2	11	11	NUM
ejpam-803	378	3	]	]	X
ejpam-803	378	4	m	m	VERB
ejpam-803	378	5	forni	forni	PROPN
ejpam-803	378	6	,	,	PUNCT
ejpam-803	378	7	m	m	VERB
ejpam-803	378	8	hallin	hallin	ADJ
ejpam-803	378	9	,	,	PUNCT
ejpam-803	378	10	m	m	PROPN
ejpam-803	378	11	lippi	lippi	PROPN
ejpam-803	378	12	,	,	PUNCT
ejpam-803	378	13	and	and	CCONJ
ejpam-803	378	14	l	l	PROPN
ejpam-803	378	15	reichlin	reichlin	PROPN
ejpam-803	378	16	.	.	PUNCT
ejpam-803	379	1	the	the	DET
ejpam-803	379	2	generalized	generalized	ADJ
ejpam-803	379	3	dynamic	dynamic	ADJ
ejpam-803	379	4	factor	factor	NOUN
ejpam-803	379	5	model	model	NOUN
ejpam-803	379	6	:	:	PUNCT
ejpam-803	379	7	identification	identification	NOUN
ejpam-803	379	8	and	and	CCONJ
ejpam-803	379	9	estimation	estimation	NOUN
ejpam-803	379	10	.	.	PUNCT
ejpam-803	380	1	the	the	DET
ejpam-803	380	2	review	review	NOUN
ejpam-803	380	3	of	of	ADP
ejpam-803	380	4	economics	economic	NOUN
ejpam-803	380	5	and	and	CCONJ
ejpam-803	380	6	statistics	statistic	NOUN
ejpam-803	380	7	,	,	PUNCT
ejpam-803	380	8	82(4):540–552	82(4):540–552	NUM
ejpam-803	380	9	,	,	PUNCT
ejpam-803	380	10	2000	2000	NUM
ejpam-803	380	11	.	.	PUNCT
ejpam-803	381	1	[	[	X
ejpam-803	381	2	12	12	NUM
ejpam-803	381	3	]	]	X
ejpam-803	381	4	m	m	VERB
ejpam-803	381	5	forni	forni	ADJ
ejpam-803	381	6	and	and	CCONJ
ejpam-803	381	7	l	l	PROPN
ejpam-803	381	8	reichlin	reichlin	PROPN
ejpam-803	381	9	.	.	PUNCT
ejpam-803	382	1	dynamic	dynamic	ADJ
ejpam-803	382	2	common	common	ADJ
ejpam-803	382	3	factors	factor	NOUN
ejpam-803	382	4	in	in	ADP
ejpam-803	382	5	large	large	ADJ
ejpam-803	382	6	cross	cros	NOUN
ejpam-803	382	7	-	-	NOUN
ejpam-803	382	8	sections	section	NOUN
ejpam-803	382	9	.	.	PUNCT
ejpam-803	383	1	empirical	empirical	ADJ
ejpam-803	383	2	economics	economic	NOUN
ejpam-803	383	3	,	,	PUNCT
ejpam-803	383	4	21:27–42	21:27–42	NUM
ejpam-803	383	5	,	,	PUNCT
ejpam-803	383	6	1996	1996	NUM
ejpam-803	383	7	.	.	PUNCT
ejpam-803	384	1	[	[	X
ejpam-803	384	2	13	13	NUM
ejpam-803	384	3	]	]	PUNCT
ejpam-803	384	4	m	m	AUX
ejpam-803	384	5	forni	forni	ADJ
ejpam-803	384	6	and	and	CCONJ
ejpam-803	384	7	l	l	PROPN
ejpam-803	384	8	reichlin	reichlin	PROPN
ejpam-803	384	9	.	.	PUNCT
ejpam-803	385	1	lets	lets	AUX
ejpam-803	385	2	get	get	VERB
ejpam-803	385	3	real	real	ADJ
ejpam-803	385	4	:	:	PUNCT
ejpam-803	385	5	a	a	DET
ejpam-803	385	6	dynamic	dynamic	ADJ
ejpam-803	385	7	factor	factor	NOUN
ejpam-803	385	8	analytical	analytical	ADJ
ejpam-803	385	9	approach	approach	NOUN
ejpam-803	385	10	to	to	ADP
ejpam-803	385	11	disaggregated	disaggregate	VERB
ejpam-803	385	12	business	business	NOUN
ejpam-803	385	13	cycle	cycle	NOUN
ejpam-803	385	14	.	.	PUNCT
ejpam-803	386	1	review	review	NOUN
ejpam-803	386	2	of	of	ADP
ejpam-803	386	3	economic	economic	ADJ
ejpam-803	386	4	studies	study	NOUN
ejpam-803	386	5	,	,	PUNCT
ejpam-803	386	6	65:453–474	65:453–474	PROPN
ejpam-803	386	7	,	,	PUNCT
ejpam-803	386	8	1998	1998	NUM
ejpam-803	386	9	.	.	PUNCT
ejpam-803	387	1	[	[	X
ejpam-803	387	2	14	14	NUM
ejpam-803	387	3	]	]	X
ejpam-803	387	4	g	g	PROPN
ejpam-803	387	5	korajczyk	korajczyk	NOUN
ejpam-803	387	6	and	and	CCONJ
ejpam-803	387	7	r	r	NOUN
ejpam-803	387	8	korajczyk	korajczyk	NOUN
ejpam-803	387	9	.	.	PUNCT
ejpam-803	388	1	performance	performance	NOUN
ejpam-803	388	2	measurement	measurement	NOUN
ejpam-803	388	3	with	with	ADP
ejpam-803	388	4	the	the	DET
ejpam-803	388	5	arbitrage	arbitrage	NOUN
ejpam-803	388	6	pricing	pricing	NOUN
ejpam-803	388	7	theory	theory	NOUN
ejpam-803	388	8	.	.	PUNCT
ejpam-803	389	1	journal	journal	NOUN
ejpam-803	389	2	of	of	ADP
ejpam-803	389	3	financial	financial	ADJ
ejpam-803	389	4	economics	economic	NOUN
ejpam-803	389	5	,	,	PUNCT
ejpam-803	389	6	15:373–394	15:373–394	NUM
ejpam-803	389	7	,	,	PUNCT
ejpam-803	389	8	1986	1986	NUM
ejpam-803	389	9	.	.	PUNCT
ejpam-803	390	1	[	[	X
ejpam-803	390	2	15	15	NUM
ejpam-803	390	3	]	]	X
ejpam-803	390	4	g	g	NOUN
ejpam-803	390	5	korajczyk	korajczyk	NOUN
ejpam-803	390	6	and	and	CCONJ
ejpam-803	390	7	r	r	NOUN
ejpam-803	390	8	korajczyk	korajczyk	NOUN
ejpam-803	390	9	.	.	PUNCT
ejpam-803	391	1	risk	risk	NOUN
ejpam-803	391	2	and	and	CCONJ
ejpam-803	391	3	return	return	VERB
ejpam-803	391	4	in	in	ADP
ejpam-803	391	5	an	an	DET
ejpam-803	391	6	equilibrium	equilibrium	NOUN
ejpam-803	391	7	apt	apt	ADJ
ejpam-803	391	8	:	:	PUNCT
ejpam-803	391	9	application	application	NOUN
ejpam-803	391	10	of	of	ADP
ejpam-803	391	11	a	a	DET
ejpam-803	391	12	new	new	ADJ
ejpam-803	391	13	test	test	NOUN
ejpam-803	391	14	methodology	methodology	NOUN
ejpam-803	391	15	.	.	PUNCT
ejpam-803	392	1	journal	journal	PROPN
ejpam-803	392	2	of	of	ADP
ejpam-803	392	3	financial	financial	ADJ
ejpam-803	392	4	economics	economic	NOUN
ejpam-803	392	5	,	,	PUNCT
ejpam-803	392	6	21:255–289	21:255–289	NUM
ejpam-803	392	7	,	,	PUNCT
ejpam-803	392	8	1988	1988	NUM
ejpam-803	392	9	.	.	PUNCT
ejpam-803	393	1	[	[	X
ejpam-803	393	2	16	16	NUM
ejpam-803	393	3	]	]	X
ejpam-803	393	4	g	g	PROPN
ejpam-803	393	5	korajczyk	korajczyk	NOUN
ejpam-803	393	6	and	and	CCONJ
ejpam-803	393	7	r	r	NOUN
ejpam-803	393	8	korajczyk	korajczyk	NOUN
ejpam-803	393	9	.	.	PUNCT
ejpam-803	394	1	a	a	DET
ejpam-803	394	2	test	test	NOUN
ejpam-803	394	3	for	for	ADP
ejpam-803	394	4	the	the	DET
ejpam-803	394	5	number	number	NOUN
ejpam-803	394	6	of	of	ADP
ejpam-803	394	7	factors	factor	NOUN
ejpam-803	394	8	in	in	ADP
ejpam-803	394	9	an	an	DET
ejpam-803	394	10	approximate	approximate	ADJ
ejpam-803	394	11	factor	factor	NOUN
ejpam-803	394	12	model	model	NOUN
ejpam-803	394	13	.	.	PUNCT
ejpam-803	395	1	journal	journal	PROPN
ejpam-803	395	2	of	of	ADP
ejpam-803	395	3	finance	finance	NOUN
ejpam-803	395	4	,	,	PUNCT
ejpam-803	395	5	48(4	48(4	PROPN
ejpam-803	395	6	)	)	PUNCT
ejpam-803	395	7	,	,	PUNCT
ejpam-803	395	8	1993	1993	NUM
ejpam-803	395	9	.	.	PUNCT
ejpam-803	396	1	[	[	X
ejpam-803	396	2	17	17	NUM
ejpam-803	396	3	]	]	X
ejpam-803	396	4	j	j	PROPN
ejpam-803	396	5	stock	stock	PROPN
ejpam-803	396	6	and	and	CCONJ
ejpam-803	396	7	m	m	PROPN
ejpam-803	396	8	watson	watson	PROPN
ejpam-803	396	9	.	.	PUNCT
ejpam-803	397	1	diffusion	diffusion	NOUN
ejpam-803	397	2	indexes	index	NOUN
ejpam-803	397	3	.	.	PUNCT
ejpam-803	398	1	working	work	VERB
ejpam-803	398	2	paper	paper	NOUN
ejpam-803	398	3	6702	6702	NUM
ejpam-803	398	4	,	,	PUNCT
ejpam-803	398	5	national	national	ADJ
ejpam-803	398	6	bureau	bureau	NOUN
ejpam-803	398	7	of	of	ADP
ejpam-803	398	8	economic	economic	ADJ
ejpam-803	398	9	research	research	NOUN
ejpam-803	398	10	,	,	PUNCT
ejpam-803	398	11	1998	1998	NUM
ejpam-803	398	12	.	.	PUNCT
ejpam-803	399	1	[	[	X
ejpam-803	399	2	18	18	NUM
ejpam-803	399	3	]	]	X
ejpam-803	399	4	j	j	PROPN
ejpam-803	399	5	stock	stock	PROPN
ejpam-803	399	6	and	and	CCONJ
ejpam-803	399	7	m	m	PROPN
ejpam-803	399	8	watson	watson	PROPN
ejpam-803	399	9	.	.	PUNCT
ejpam-803	400	1	forecasting	forecasting	NOUN
ejpam-803	400	2	using	use	VERB
ejpam-803	400	3	principal	principal	ADJ
ejpam-803	400	4	components	component	NOUN
ejpam-803	400	5	from	from	ADP
ejpam-803	400	6	a	a	DET
ejpam-803	400	7	large	large	ADJ
ejpam-803	400	8	number	number	NOUN
ejpam-803	400	9	of	of	ADP
ejpam-803	400	10	predictors	predictor	NOUN
ejpam-803	400	11	.	.	PUNCT
ejpam-803	401	1	journal	journal	NOUN
ejpam-803	401	2	of	of	ADP
ejpam-803	401	3	american	american	PROPN
ejpam-803	401	4	statistical	statistical	ADJ
ejpam-803	401	5	association	association	NOUN
ejpam-803	401	6	,	,	PUNCT
ejpam-803	401	7	97:1167–1179	97:1167–1179	PROPN
ejpam-803	401	8	,	,	PUNCT
ejpam-803	401	9	2002	2002	NUM
ejpam-803	401	10	.	.	PUNCT
ejpam-803	402	1	[	[	X
ejpam-803	402	2	19	19	NUM
ejpam-803	402	3	]	]	X
ejpam-803	402	4	j	j	PROPN
ejpam-803	402	5	stock	stock	PROPN
ejpam-803	402	6	and	and	CCONJ
ejpam-803	402	7	m	m	PROPN
ejpam-803	402	8	watson	watson	PROPN
ejpam-803	402	9	.	.	PUNCT
ejpam-803	403	1	macroeconomic	macroeconomic	ADJ
ejpam-803	403	2	forecasting	forecasting	NOUN
ejpam-803	403	3	using	use	VERB
ejpam-803	403	4	diffusion	diffusion	NOUN
ejpam-803	403	5	indexes	index	NOUN
ejpam-803	403	6	.	.	PUNCT
ejpam-803	404	1	journal	journal	NOUN
ejpam-803	404	2	of	of	ADP
ejpam-803	404	3	business	business	NOUN
ejpam-803	404	4	and	and	CCONJ
ejpam-803	404	5	economic	economic	ADJ
ejpam-803	404	6	statistics	statistic	NOUN
ejpam-803	404	7	,	,	PUNCT
ejpam-803	404	8	20:147–161	20:147–161	PROPN
ejpam-803	404	9	,	,	PUNCT
ejpam-803	404	10	2002	2002	NUM
ejpam-803	404	11	.	.	PUNCT
ejpam-803	405	1	[	[	X
ejpam-803	405	2	20	20	NUM
ejpam-803	405	3	]	]	SYM
ejpam-803	405	4	j	j	PROPN
ejpam-803	405	5	stock	stock	PROPN
ejpam-803	405	6	and	and	CCONJ
ejpam-803	405	7	m	m	PROPN
ejpam-803	405	8	watson	watson	PROPN
ejpam-803	405	9	.	.	PUNCT
ejpam-803	406	1	an	an	DET
ejpam-803	406	2	empirical	empirical	ADJ
ejpam-803	406	3	comparison	comparison	NOUN
ejpam-803	406	4	of	of	ADP
ejpam-803	406	5	methods	method	NOUN
ejpam-803	406	6	for	for	ADP
ejpam-803	406	7	forecasting	forecasting	NOUN
ejpam-803	406	8	using	use	VERB
ejpam-803	406	9	many	many	ADJ
ejpam-803	406	10	predictors	predictor	NOUN
ejpam-803	406	11	.	.	PUNCT
ejpam-803	407	1	working	work	VERB
ejpam-803	407	2	paper	paper	PROPN
ejpam-803	407	3	princeton	princeton	PROPN
ejpam-803	407	4	university	university	PROPN
ejpam-803	407	5	,	,	PUNCT
ejpam-803	407	6	2004	2004	NUM
ejpam-803	407	7	.	.	PUNCT
ejpam-803	408	1	[	[	X
ejpam-803	408	2	21	21	NUM
ejpam-803	408	3	]	]	X
ejpam-803	408	4	j	j	PROPN
ejpam-803	408	5	stock	stock	PROPN
ejpam-803	408	6	and	and	CCONJ
ejpam-803	408	7	m	m	PROPN
ejpam-803	408	8	watson	watson	PROPN
ejpam-803	408	9	.	.	PUNCT
ejpam-803	409	1	forecasting	forecast	VERB
ejpam-803	409	2	with	with	ADP
ejpam-803	409	3	many	many	ADJ
ejpam-803	409	4	predictors	predictor	NOUN
ejpam-803	409	5	.	.	PUNCT
ejpam-803	410	1	handbook	handbook	NOUN
ejpam-803	410	2	of	of	ADP
ejpam-803	410	3	forecasting	forecasting	NOUN
ejpam-803	410	4	:	:	PUNCT
ejpam-803	410	5	a	a	DET
ejpam-803	410	6	forthcoming	forthcoming	ADJ
ejpam-803	410	7	book	book	NOUN
ejpam-803	410	8	,	,	PUNCT
ejpam-803	410	9	2004	2004	NUM
ejpam-803	410	10	.	.	PUNCT
ejpam-803	411	1	[	[	X
ejpam-803	411	2	22	22	NUM
ejpam-803	411	3	]	]	X
ejpam-803	411	4	j	j	PROPN
ejpam-803	411	5	stock	stock	PROPN
ejpam-803	411	6	and	and	CCONJ
ejpam-803	411	7	m	m	PROPN
ejpam-803	411	8	watson	watson	PROPN
ejpam-803	411	9	.	.	PUNCT
ejpam-803	412	1	implications	implication	NOUN
ejpam-803	412	2	of	of	ADP
ejpam-803	412	3	dynamic	dynamic	ADJ
ejpam-803	412	4	factor	factor	NOUN
ejpam-803	412	5	models	model	NOUN
ejpam-803	412	6	for	for	ADP
ejpam-803	412	7	var	var	NOUN
ejpam-803	412	8	analysis	analysis	NOUN
ejpam-803	412	9	.	.	PUNCT
ejpam-803	413	1	working	work	VERB
ejpam-803	413	2	paper	paper	NOUN
ejpam-803	413	3	11467	11467	NUM
ejpam-803	413	4	national	national	ADJ
ejpam-803	413	5	bureau	bureau	NOUN
ejpam-803	413	6	of	of	ADP
ejpam-803	413	7	economic	economic	ADJ
ejpam-803	413	8	research	research	NOUN
ejpam-803	413	9	,	,	PUNCT
ejpam-803	413	10	2004	2004	NUM
ejpam-803	413	11	.	.	PUNCT
ejpam-803	414	1	references	reference	NOUN
ejpam-803	414	2	492	492	NUM
ejpam-803	414	3	appendix	appendix	ADJ
ejpam-803	414	4	prediction	prediction	NOUN
ejpam-803	414	5	models	model	NOUN
ejpam-803	414	6	used	use	VERB
ejpam-803	414	7	in	in	ADP
ejpam-803	414	8	empirical	empirical	ADJ
ejpam-803	414	9	experiments§	experiments§	ADJ
ejpam-803	414	10	•	•	NOUN
ejpam-803	414	11	model	model	NOUN
ejpam-803	414	12	1	1	NUM
ejpam-803	414	13	(	(	PUNCT
ejpam-803	414	14	factor	factor	NOUN
ejpam-803	414	15	model	model	NOUN
ejpam-803	414	16	):	):	PUNCT
ejpam-803	414	17	this	this	PRON
ejpam-803	414	18	is	be	AUX
ejpam-803	414	19	the	the	DET
ejpam-803	414	20	standard	standard	ADJ
ejpam-803	414	21	factor	factor	NOUN
ejpam-803	414	22	forecast	forecast	NOUN
ejpam-803	414	23	model	model	NOUN
ejpam-803	414	24	:	:	PUNCT
ejpam-803	414	25	byt+h|t	byt+h|t	PROPN
ejpam-803	414	26	=	=	PUNCT
ejpam-803	415	1	ba0	ba0	PROPN
ejpam-803	416	1	+	+	NUM
ejpam-803	416	2	bα′eft	bα′eft	NOUN
ejpam-803	416	3	+	+	CCONJ
ejpam-803	416	4	bβ	bβ	NOUN
ejpam-803	416	5	yt	yt	NOUN
ejpam-803	416	6	•	•	NUM
ejpam-803	416	7	model	model	NOUN
ejpam-803	416	8	2	2	NUM
ejpam-803	416	9	(	(	PUNCT
ejpam-803	416	10	autoregressive	autoregressive	ADJ
ejpam-803	416	11	model	model	NOUN
ejpam-803	416	12	):	):	PUNCT
ejpam-803	416	13	this	this	PRON
ejpam-803	416	14	is	be	AUX
ejpam-803	416	15	an	an	DET
ejpam-803	416	16	ar(p	ar(p	NOUN
ejpam-803	416	17	)	)	PUNCT
ejpam-803	416	18	forecast	forecast	NOUN
ejpam-803	416	19	model	model	NOUN
ejpam-803	416	20	,	,	PUNCT
ejpam-803	416	21	with	with	ADP
ejpam-803	416	22	lags	lag	NOUN
ejpam-803	416	23	selected	select	VERB
ejpam-803	416	24	by	by	ADP
ejpam-803	416	25	the	the	DET
ejpam-803	416	26	sic	sic	ADJ
ejpam-803	416	27	:	:	PUNCT
ejpam-803	416	28	byt+h|t	byt+h|t	PROPN
ejpam-803	416	29	=	=	PUNCT
ejpam-803	417	1	ba0	ba0	PROPN
ejpam-803	418	1	+	+	CCONJ
ejpam-803	418	2	p∑	p∑	NOUN
ejpam-803	419	1	j=1	j=1	ADJ
ejpam-803	419	2	bα	bα	PROPN
ejpam-803	419	3	j	j	PROPN
ejpam-803	419	4	yt−	yt−	PRON
ejpam-803	419	5	j+1	j+1	ADJ
ejpam-803	419	6	•	•	NUM
ejpam-803	419	7	model	model	NOUN
ejpam-803	419	8	3	3	NUM
ejpam-803	419	9	(	(	PUNCT
ejpam-803	419	10	random	random	ADJ
ejpam-803	419	11	walk	walk	NOUN
ejpam-803	419	12	model	model	NOUN
ejpam-803	419	13	):	):	PUNCT
ejpam-803	419	14	this	this	PRON
ejpam-803	419	15	is	be	AUX
ejpam-803	419	16	a	a	DET
ejpam-803	419	17	random	random	ADJ
ejpam-803	419	18	walk	walk	NOUN
ejpam-803	419	19	forecast	forecast	NOUN
ejpam-803	419	20	model	model	NOUN
ejpam-803	419	21	:	:	PUNCT
ejpam-803	419	22	byt+h|t	byt+h|t	PROPN
ejpam-803	419	23	=	=	PRON
ejpam-803	419	24	yt	yt	VERB
ejpam-803	419	25	•	•	NUM
ejpam-803	419	26	model	model	NOUN
ejpam-803	419	27	4	4	NUM
ejpam-803	419	28	(	(	PUNCT
ejpam-803	419	29	ordinary	ordinary	ADJ
ejpam-803	419	30	a	a	DET
ejpam-803	419	31	(	(	PUNCT
ejpam-803	419	32	j	j	NOUN
ejpam-803	419	33	)	)	PUNCT
ejpam-803	419	34	1	1	NUM
ejpam-803	419	35	proxy	proxy	NOUN
ejpam-803	419	36	model	model	NOUN
ejpam-803	419	37	):	):	PUNCT
ejpam-803	419	38	in	in	ADP
ejpam-803	419	39	this	this	DET
ejpam-803	419	40	forecast	forecast	NOUN
ejpam-803	419	41	model	model	NOUN
ejpam-803	419	42	,	,	PUNCT
ejpam-803	419	43	the	the	DET
ejpam-803	419	44	single	single	ADJ
ejpam-803	419	45	“	"	PUNCT
ejpam-803	419	46	best	good	ADJ
ejpam-803	419	47	”	"	PUNCT
ejpam-803	419	48	proxy	proxy	NOUN
ejpam-803	419	49	selected	select	VERB
ejpam-803	419	50	by	by	ADP
ejpam-803	419	51	the	the	DET
ejpam-803	419	52	a	a	PROPN
ejpam-803	419	53	(	(	PUNCT
ejpam-803	419	54	j	j	NOUN
ejpam-803	419	55	)	)	PUNCT
ejpam-803	419	56	test	test	NOUN
ejpam-803	419	57	(	(	PUNCT
ejpam-803	419	58	i.e.	i.e.	X
ejpam-803	419	59	,	,	PUNCT
ejpam-803	419	60	the	the	DET
ejpam-803	419	61	proxy	proxy	NOUN
ejpam-803	419	62	associated	associate	VERB
ejpam-803	419	63	with	with	ADP
ejpam-803	419	64	the	the	DET
ejpam-803	419	65	a	a	PROPN
ejpam-803	419	66	(	(	PUNCT
ejpam-803	419	67	j	j	NOUN
ejpam-803	419	68	)	)	PUNCT
ejpam-803	419	69	statistic	statistic	NOUN
ejpam-803	419	70	value	value	NOUN
ejpam-803	419	71	closest	close	ADJ
ejpam-803	419	72	to	to	ADP
ejpam-803	419	73	2ξ	2ξ	NUM
ejpam-803	419	74	in	in	ADP
ejpam-803	419	75	absolute	absolute	ADJ
ejpam-803	419	76	value	value	NOUN
ejpam-803	419	77	)	)	PUNCT
ejpam-803	419	78	is	be	AUX
ejpam-803	419	79	used	use	VERB
ejpam-803	419	80	as	as	ADP
ejpam-803	419	81	the	the	DET
ejpam-803	419	82	only	only	ADJ
ejpam-803	419	83	proxy	proxy	ADJ
ejpam-803	419	84	regressor	regressor	NOUN
ejpam-803	419	85	in	in	ADP
ejpam-803	419	86	the	the	DET
ejpam-803	419	87	forecast	forecast	NOUN
ejpam-803	419	88	model	model	NOUN
ejpam-803	419	89	:	:	PUNCT
ejpam-803	419	90	byt+h|t	byt+h|t	PROPN
ejpam-803	419	91	=	=	PUNCT
ejpam-803	420	1	ba0	ba0	PROPN
ejpam-803	421	1	+	+	CCONJ
ejpam-803	421	2	bαga	bαga	ADJ
ejpam-803	421	3	j1	j1	PROPN
ejpam-803	421	4	t	t	PROPN
ejpam-803	421	5	+	+	CCONJ
ejpam-803	421	6	bβ	bβ	NOUN
ejpam-803	421	7	yt	yt	NOUN
ejpam-803	421	8	•	•	ADJ
ejpam-803	421	9	model	model	NOUN
ejpam-803	421	10	5	5	NUM
ejpam-803	421	11	(	(	PUNCT
ejpam-803	421	12	ordinary	ordinary	ADJ
ejpam-803	421	13	a	a	DET
ejpam-803	421	14	(	(	PUNCT
ejpam-803	421	15	j	j	NOUN
ejpam-803	421	16	)	)	PUNCT
ejpam-803	421	17	bk	bk	VERB
ejpam-803	421	18	proxies	proxy	NOUN
ejpam-803	421	19	model	model	NOUN
ejpam-803	421	20	):	):	PUNCT
ejpam-803	421	21	the	the	DET
ejpam-803	421	22	“	"	PUNCT
ejpam-803	421	23	best	good	ADJ
ejpam-803	421	24	”	"	PUNCT
ejpam-803	421	25	bk	bk	NOUN
ejpam-803	421	26	factor	factor	NOUN
ejpam-803	421	27	proxies	proxy	NOUN
ejpam-803	421	28	selected	select	VERB
ejpam-803	421	29	by	by	ADP
ejpam-803	421	30	the	the	DET
ejpam-803	421	31	a	a	PROPN
ejpam-803	421	32	(	(	PUNCT
ejpam-803	421	33	j	j	NOUN
ejpam-803	421	34	)	)	PUNCT
ejpam-803	421	35	test	test	NOUN
ejpam-803	421	36	are	be	AUX
ejpam-803	421	37	used	use	VERB
ejpam-803	421	38	:	:	PUNCT
ejpam-803	422	1	byt+h|t	byt+h|t	PROPN
ejpam-803	422	2	=	=	PUNCT
ejpam-803	423	1	ba0	ba0	PROPN
ejpam-803	423	2	+	+	NUM
ejpam-803	423	3	bα′sa	bα′sa	PROPN
ejpam-803	423	4	t	t	NOUN
ejpam-803	423	5	+	+	CCONJ
ejpam-803	423	6	bβ	bβ	NOUN
ejpam-803	423	7	yt	yt	NOUN
ejpam-803	423	8	,	,	PUNCT
ejpam-803	423	9	where	where	SCONJ
ejpam-803	423	10	sa	sa	PROPN
ejpam-803	423	11	t	t	PROPN
ejpam-803	423	12	=	=	SYM
ejpam-803	423	13	{	{	PUNCT
ejpam-803	423	14	ga	ga	PROPN
ejpam-803	423	15	j1	j1	PROPN
ejpam-803	423	16	t	t	PROPN
ejpam-803	423	17	,	,	PUNCT
ejpam-803	423	18	.	.	PUNCT
ejpam-803	423	19	.	.	PUNCT
ejpam-803	424	1	.	.	PUNCT
ejpam-803	425	1	,	,	PUNCT
ejpam-803	425	2	ga	ga	PROPN
ejpam-803	425	3	jbk	jbk	PROPN
ejpam-803	425	4	t	t	PROPN
ejpam-803	425	5	}	}	PUNCT
ejpam-803	425	6	.	.	PUNCT
ejpam-803	426	1	•	•	NUM
ejpam-803	426	2	model	model	NOUN
ejpam-803	426	3	6	6	NUM
ejpam-803	426	4	(	(	PUNCT
ejpam-803	426	5	ordinary	ordinary	ADJ
ejpam-803	426	6	m	m	PROPN
ejpam-803	426	7	(	(	PUNCT
ejpam-803	426	8	j	j	NOUN
ejpam-803	426	9	)	)	PUNCT
ejpam-803	426	10	1	1	NUM
ejpam-803	426	11	proxy	proxy	NOUN
ejpam-803	426	12	model	model	NOUN
ejpam-803	426	13	):	):	PUNCT
ejpam-803	426	14	in	in	ADP
ejpam-803	426	15	this	this	DET
ejpam-803	426	16	forecast	forecast	NOUN
ejpam-803	426	17	model	model	NOUN
ejpam-803	426	18	,	,	PUNCT
ejpam-803	426	19	the	the	DET
ejpam-803	426	20	single	single	ADJ
ejpam-803	426	21	“	"	PUNCT
ejpam-803	426	22	best	good	ADJ
ejpam-803	426	23	”	"	PUNCT
ejpam-803	426	24	factor	factor	NOUN
ejpam-803	426	25	proxy	proxy	NOUN
ejpam-803	426	26	selected	select	VERB
ejpam-803	426	27	by	by	ADP
ejpam-803	426	28	the	the	DET
ejpam-803	426	29	m	m	PROPN
ejpam-803	426	30	(	(	PUNCT
ejpam-803	426	31	j	j	NOUN
ejpam-803	426	32	)	)	PUNCT
ejpam-803	426	33	test	test	NOUN
ejpam-803	426	34	(	(	PUNCT
ejpam-803	426	35	i.e.	i.e.	X
ejpam-803	426	36	,	,	PUNCT
ejpam-803	426	37	the	the	DET
ejpam-803	426	38	proxy	proxy	NOUN
ejpam-803	426	39	associated	associate	VERB
ejpam-803	426	40	with	with	ADP
ejpam-803	426	41	the	the	DET
ejpam-803	426	42	lowest	low	ADJ
ejpam-803	426	43	m	m	PROPN
ejpam-803	426	44	(	(	PUNCT
ejpam-803	426	45	j	j	PROPN
ejpam-803	426	46	)	)	PUNCT
ejpam-803	426	47	-statistic	-statistic	PROPN
ejpam-803	426	48	)	)	PUNCT
ejpam-803	426	49	is	be	AUX
ejpam-803	426	50	used	use	VERB
ejpam-803	426	51	as	as	ADP
ejpam-803	426	52	the	the	DET
ejpam-803	426	53	only	only	ADJ
ejpam-803	426	54	proxy	proxy	ADJ
ejpam-803	426	55	regressor	regressor	NOUN
ejpam-803	426	56	in	in	ADP
ejpam-803	426	57	the	the	DET
ejpam-803	426	58	forecast	forecast	NOUN
ejpam-803	426	59	model	model	NOUN
ejpam-803	426	60	:	:	PUNCT
ejpam-803	426	61	byt+h|t	byt+h|t	PROPN
ejpam-803	426	62	=	=	PUNCT
ejpam-803	427	1	ba0	ba0	PROPN
ejpam-803	428	1	+	+	CCONJ
ejpam-803	428	2	bαgm	bαgm	ADJ
ejpam-803	428	3	jt	jt	PROPN
ejpam-803	428	4	+	+	CCONJ
ejpam-803	428	5	bβ	bβ	NOUN
ejpam-803	428	6	yt	yt	NOUN
ejpam-803	428	7	.	.	PUNCT
ejpam-803	429	1	since	since	SCONJ
ejpam-803	429	2	it	it	PRON
ejpam-803	429	3	is	be	AUX
ejpam-803	429	4	possible	possible	ADJ
ejpam-803	429	5	for	for	SCONJ
ejpam-803	429	6	the	the	DET
ejpam-803	429	7	m	m	PROPN
ejpam-803	429	8	(	(	PUNCT
ejpam-803	429	9	j	j	NOUN
ejpam-803	429	10	)	)	PUNCT
ejpam-803	429	11	test	test	NOUN
ejpam-803	429	12	to	to	PART
ejpam-803	429	13	select	select	VERB
ejpam-803	429	14	no	no	DET
ejpam-803	429	15	proxies	proxy	NOUN
ejpam-803	429	16	at	at	ADV
ejpam-803	429	17	all	all	ADV
ejpam-803	429	18	,	,	PUNCT
ejpam-803	429	19	should	should	AUX
ejpam-803	429	20	that	that	DET
ejpam-803	429	21	scenario	scenario	NOUN
ejpam-803	429	22	occur	occur	VERB
ejpam-803	429	23	,	,	PUNCT
ejpam-803	429	24	the	the	DET
ejpam-803	429	25	model	model	NOUN
ejpam-803	429	26	degenerates	degenerate	VERB
ejpam-803	429	27	to	to	PART
ejpam-803	429	28	:	:	PUNCT
ejpam-803	429	29	byt+h|t	byt+h|t	PROPN
ejpam-803	429	30	=	=	PUNCT
ejpam-803	430	1	ba0	ba0	PROPN
ejpam-803	430	2	+	+	CCONJ
ejpam-803	430	3	bβ	bβ	NOUN
ejpam-803	430	4	yt	yt	NOUN
ejpam-803	430	5	.	.	PUNCT
ejpam-803	431	1	•	•	NUM
ejpam-803	431	2	model	model	NOUN
ejpam-803	431	3	7	7	NUM
ejpam-803	431	4	(	(	PUNCT
ejpam-803	431	5	ordinary	ordinary	ADJ
ejpam-803	431	6	m	m	PROPN
ejpam-803	431	7	(	(	PUNCT
ejpam-803	431	8	j	j	NOUN
ejpam-803	431	9	)	)	PUNCT
ejpam-803	431	10	bk	bk	VERB
ejpam-803	431	11	proxies	proxy	NOUN
ejpam-803	431	12	model	model	NOUN
ejpam-803	431	13	):	):	PUNCT
ejpam-803	431	14	this	this	DET
ejpam-803	431	15	forecast	forecast	NOUN
ejpam-803	431	16	model	model	NOUN
ejpam-803	431	17	is	be	AUX
ejpam-803	431	18	the	the	DET
ejpam-803	431	19	same	same	ADJ
ejpam-803	431	20	as	as	ADP
ejpam-803	431	21	model	model	NOUN
ejpam-803	431	22	6	6	NUM
ejpam-803	431	23	,	,	PUNCT
ejpam-803	431	24	but	but	CCONJ
ejpam-803	431	25	bk	bk	PRON
ejpam-803	431	26	factor	factor	NOUN
ejpam-803	431	27	proxies	proxy	NOUN
ejpam-803	431	28	selected	select	VERB
ejpam-803	431	29	by	by	ADP
ejpam-803	431	30	the	the	DET
ejpam-803	431	31	m	m	PROPN
ejpam-803	431	32	(	(	PUNCT
ejpam-803	431	33	j	j	NOUN
ejpam-803	431	34	)	)	PUNCT
ejpam-803	431	35	test	test	NOUN
ejpam-803	431	36	are	be	AUX
ejpam-803	431	37	used	use	VERB
ejpam-803	431	38	:	:	PUNCT
ejpam-803	431	39	byt+h|t	byt+h|t	PROPN
ejpam-803	431	40	=	=	PUNCT
ejpam-803	432	1	ba0	ba0	PROPN
ejpam-803	432	2	+	+	CCONJ
ejpam-803	432	3	bα′sm	bα′sm	ADJ
ejpam-803	432	4	t	t	NOUN
ejpam-803	432	5	+	+	CCONJ
ejpam-803	432	6	bβ	bβ	NOUN
ejpam-803	432	7	yt	yt	NOUN
ejpam-803	432	8	.	.	PUNCT
ejpam-803	433	1	•	•	NUM
ejpam-803	433	2	model	model	NOUN
ejpam-803	433	3	8	8	NUM
ejpam-803	433	4	(	(	PUNCT
ejpam-803	433	5	smoothed	smooth	VERB
ejpam-803	433	6	a	a	DET
ejpam-803	433	7	(	(	PUNCT
ejpam-803	433	8	j	j	NOUN
ejpam-803	433	9	)	)	PUNCT
ejpam-803	433	10	1	1	NUM
ejpam-803	433	11	proxy	proxy	NOUN
ejpam-803	433	12	model	model	NOUN
ejpam-803	433	13	):	):	PUNCT
ejpam-803	433	14	this	this	DET
ejpam-803	433	15	forecast	forecast	NOUN
ejpam-803	433	16	model	model	NOUN
ejpam-803	433	17	is	be	AUX
ejpam-803	433	18	the	the	DET
ejpam-803	433	19	same	same	ADJ
ejpam-803	433	20	as	as	ADP
ejpam-803	433	21	model	model	NOUN
ejpam-803	433	22	4	4	NUM
ejpam-803	433	23	,	,	PUNCT
ejpam-803	433	24	except	except	SCONJ
ejpam-803	433	25	that	that	SCONJ
ejpam-803	433	26	the	the	DET
ejpam-803	433	27	smoothed	smoothed	ADJ
ejpam-803	433	28	version	version	NOUN
ejpam-803	433	29	of	of	ADP
ejpam-803	433	30	the	the	DET
ejpam-803	433	31	a	a	PROPN
ejpam-803	433	32	(	(	PUNCT
ejpam-803	433	33	j	j	NOUN
ejpam-803	433	34	)	)	PUNCT
ejpam-803	433	35	test	test	NOUN
ejpam-803	433	36	is	be	AUX
ejpam-803	433	37	used	use	VERB
ejpam-803	433	38	(	(	PUNCT
ejpam-803	433	39	see	see	VERB
ejpam-803	433	40	section	section	NOUN
ejpam-803	433	41	3.3	3.3	NUM
ejpam-803	433	42	for	for	ADP
ejpam-803	433	43	further	further	ADJ
ejpam-803	433	44	discussion	discussion	NOUN
ejpam-803	433	45	)	)	PUNCT
ejpam-803	433	46	.	.	PUNCT
ejpam-803	434	1	•	•	NUM
ejpam-803	434	2	model	model	NOUN
ejpam-803	434	3	9	9	NUM
ejpam-803	434	4	(	(	PUNCT
ejpam-803	434	5	smoothed	smooth	VERB
ejpam-803	434	6	a	a	DET
ejpam-803	434	7	(	(	PUNCT
ejpam-803	434	8	j	j	NOUN
ejpam-803	434	9	)	)	PUNCT
ejpam-803	434	10	bk	bk	VERB
ejpam-803	434	11	proxies	proxy	NOUN
ejpam-803	434	12	model	model	NOUN
ejpam-803	434	13	):	):	PUNCT
ejpam-803	434	14	this	this	DET
ejpam-803	434	15	forecast	forecast	NOUN
ejpam-803	434	16	model	model	NOUN
ejpam-803	434	17	is	be	AUX
ejpam-803	434	18	the	the	DET
ejpam-803	434	19	same	same	ADJ
ejpam-803	434	20	as	as	ADP
ejpam-803	434	21	model	model	NOUN
ejpam-803	434	22	5	5	NUM
ejpam-803	434	23	,	,	PUNCT
ejpam-803	434	24	except	except	SCONJ
ejpam-803	434	25	that	that	SCONJ
ejpam-803	434	26	the	the	DET
ejpam-803	434	27	smoothed	smoothed	ADJ
ejpam-803	434	28	version	version	NOUN
ejpam-803	434	29	of	of	ADP
ejpam-803	434	30	the	the	DET
ejpam-803	434	31	a	a	PROPN
ejpam-803	434	32	(	(	PUNCT
ejpam-803	434	33	j	j	NOUN
ejpam-803	434	34	)	)	PUNCT
ejpam-803	434	35	test	test	NOUN
ejpam-803	434	36	is	be	AUX
ejpam-803	434	37	used	use	VERB
ejpam-803	434	38	(	(	PUNCT
ejpam-803	434	39	see	see	VERB
ejpam-803	434	40	section	section	NOUN
ejpam-803	434	41	3.3	3.3	NUM
ejpam-803	434	42	for	for	ADP
ejpam-803	434	43	further	further	ADJ
ejpam-803	434	44	discussion	discussion	NOUN
ejpam-803	434	45	)	)	PUNCT
ejpam-803	434	46	.	.	PUNCT
ejpam-803	435	1	•	•	NUM
ejpam-803	435	2	model	model	NOUN
ejpam-803	435	3	10	10	NUM
ejpam-803	435	4	(	(	PUNCT
ejpam-803	435	5	smoothed	smooth	VERB
ejpam-803	435	6	m	m	PROPN
ejpam-803	435	7	(	(	PUNCT
ejpam-803	435	8	j	j	NOUN
ejpam-803	435	9	)	)	PUNCT
ejpam-803	435	10	1	1	NUM
ejpam-803	435	11	proxy	proxy	NOUN
ejpam-803	435	12	model	model	NOUN
ejpam-803	435	13	):	):	PUNCT
ejpam-803	435	14	this	this	DET
ejpam-803	435	15	forecast	forecast	NOUN
ejpam-803	435	16	model	model	NOUN
ejpam-803	435	17	is	be	AUX
ejpam-803	435	18	the	the	DET
ejpam-803	435	19	same	same	ADJ
ejpam-803	435	20	as	as	ADP
ejpam-803	435	21	model	model	NOUN
ejpam-803	435	22	6	6	NUM
ejpam-803	435	23	,	,	PUNCT
ejpam-803	435	24	except	except	SCONJ
ejpam-803	435	25	that	that	SCONJ
ejpam-803	435	26	the	the	DET
ejpam-803	435	27	smoothed	smoothed	ADJ
ejpam-803	435	28	version	version	NOUN
ejpam-803	435	29	of	of	ADP
ejpam-803	435	30	the	the	DET
ejpam-803	435	31	m	m	PROPN
ejpam-803	435	32	(	(	PUNCT
ejpam-803	435	33	j	j	PROPN
ejpam-803	435	34	)	)	PUNCT
ejpam-803	435	35	test	test	NOUN
ejpam-803	435	36	is	be	AUX
ejpam-803	435	37	used	use	VERB
ejpam-803	435	38	(	(	PUNCT
ejpam-803	435	39	see	see	VERB
ejpam-803	435	40	section	section	NOUN
ejpam-803	435	41	3.3	3.3	NUM
ejpam-803	435	42	for	for	ADP
ejpam-803	435	43	further	further	ADJ
ejpam-803	435	44	discussion	discussion	NOUN
ejpam-803	435	45	)	)	PUNCT
ejpam-803	435	46	.	.	PUNCT
ejpam-803	436	1	§	§	PROPN
ejpam-803	436	2	see	see	ADJ
ejpam-803	436	3	sections	section	NOUN
ejpam-803	436	4	3.3	3.3	NUM
ejpam-803	436	5	and	and	CCONJ
ejpam-803	436	6	4	4	NUM
ejpam-803	436	7	for	for	ADP
ejpam-803	436	8	further	further	ADJ
ejpam-803	436	9	discussion	discussion	NOUN
ejpam-803	436	10	of	of	ADP
ejpam-803	436	11	the	the	DET
ejpam-803	436	12	factor	factor	NOUN
ejpam-803	436	13	proxy	proxy	NOUN
ejpam-803	436	14	selection	selection	NOUN
ejpam-803	436	15	methodology	methodology	NOUN
ejpam-803	436	16	used	use	VERB
ejpam-803	436	17	in	in	ADP
ejpam-803	436	18	the	the	DET
ejpam-803	436	19	construction	construction	NOUN
ejpam-803	436	20	of	of	ADP
ejpam-803	436	21	the	the	DET
ejpam-803	436	22	above	above	ADJ
ejpam-803	436	23	models	model	NOUN
ejpam-803	436	24	.	.	PUNCT
ejpam-803	437	1	references	reference	NOUN
ejpam-803	437	2	493	493	NUM
ejpam-803	437	3	•	•	NUM
ejpam-803	437	4	model	model	NOUN
ejpam-803	437	5	11	11	NUM
ejpam-803	437	6	(	(	PUNCT
ejpam-803	437	7	smoothed	smooth	VERB
ejpam-803	437	8	m	m	PROPN
ejpam-803	437	9	(	(	PUNCT
ejpam-803	437	10	j	j	NOUN
ejpam-803	437	11	)	)	PUNCT
ejpam-803	437	12	bk	bk	VERB
ejpam-803	437	13	proxies	proxy	NOUN
ejpam-803	437	14	model	model	NOUN
ejpam-803	437	15	):	):	PUNCT
ejpam-803	437	16	this	this	DET
ejpam-803	437	17	forecast	forecast	NOUN
ejpam-803	437	18	model	model	NOUN
ejpam-803	437	19	is	be	AUX
ejpam-803	437	20	the	the	DET
ejpam-803	437	21	same	same	ADJ
ejpam-803	437	22	as	as	ADP
ejpam-803	437	23	model	model	NOUN
ejpam-803	437	24	7	7	NUM
ejpam-803	437	25	,	,	PUNCT
ejpam-803	437	26	except	except	SCONJ
ejpam-803	437	27	that	that	SCONJ
ejpam-803	437	28	the	the	DET
ejpam-803	437	29	smoothed	smoothed	ADJ
ejpam-803	437	30	version	version	NOUN
ejpam-803	437	31	of	of	ADP
ejpam-803	437	32	the	the	DET
ejpam-803	437	33	m	m	PROPN
ejpam-803	437	34	(	(	PUNCT
ejpam-803	437	35	j	j	PROPN
ejpam-803	437	36	)	)	PUNCT
ejpam-803	437	37	test	test	NOUN
ejpam-803	437	38	is	be	AUX
ejpam-803	437	39	used	use	VERB
ejpam-803	437	40	(	(	PUNCT
ejpam-803	437	41	see	see	VERB
ejpam-803	437	42	section	section	NOUN
ejpam-803	437	43	3.3	3.3	NUM
ejpam-803	437	44	for	for	ADP
ejpam-803	437	45	further	further	ADJ
ejpam-803	437	46	discussion	discussion	NOUN
ejpam-803	437	47	)	)	PUNCT
ejpam-803	437	48	.	.	PUNCT
ejpam-803	438	1	•	•	NUM
ejpam-803	438	2	model	model	NOUN
ejpam-803	438	3	12	12	NUM
ejpam-803	438	4	(	(	PUNCT
ejpam-803	438	5	autoregressive	autoregressive	ADJ
ejpam-803	438	6	plus	plus	CCONJ
ejpam-803	438	7	smoothed	smooth	VERB
ejpam-803	438	8	a	a	DET
ejpam-803	438	9	(	(	PUNCT
ejpam-803	438	10	j	j	NOUN
ejpam-803	438	11	)	)	PUNCT
ejpam-803	438	12	1	1	NUM
ejpam-803	438	13	proxy	proxy	NOUN
ejpam-803	438	14	model	model	NOUN
ejpam-803	438	15	):	):	PUNCT
ejpam-803	438	16	this	this	DET
ejpam-803	438	17	forecast	forecast	NOUN
ejpam-803	438	18	model	model	NOUN
ejpam-803	438	19	is	be	AUX
ejpam-803	438	20	the	the	DET
ejpam-803	438	21	same	same	ADJ
ejpam-803	438	22	as	as	ADP
ejpam-803	438	23	model	model	NOUN
ejpam-803	438	24	8	8	NUM
ejpam-803	438	25	,	,	PUNCT
ejpam-803	438	26	except	except	SCONJ
ejpam-803	438	27	that	that	SCONJ
ejpam-803	438	28	the	the	DET
ejpam-803	438	29	lag	lag	NOUN
ejpam-803	438	30	of	of	ADP
ejpam-803	438	31	the	the	DET
ejpam-803	438	32	autoregressive	autoregressive	ADJ
ejpam-803	438	33	component	component	NOUN
ejpam-803	438	34	is	be	AUX
ejpam-803	438	35	selected	select	VERB
ejpam-803	438	36	by	by	ADP
ejpam-803	438	37	the	the	DET
ejpam-803	438	38	sic	sic	NOUN
ejpam-803	438	39	rather	rather	ADV
ejpam-803	438	40	than	than	ADP
ejpam-803	438	41	restricted	restrict	VERB
ejpam-803	438	42	to	to	ADP
ejpam-803	438	43	1	1	NUM
ejpam-803	438	44	:	:	PUNCT
ejpam-803	438	45	byt+h|t	byt+h|t	PROPN
ejpam-803	438	46	=	=	PUNCT
ejpam-803	439	1	ba0	ba0	PROPN
ejpam-803	439	2	+	+	NUM
ejpam-803	439	3	bαga∗	bαga∗	PROPN
ejpam-803	439	4	j1	j1	PROPN
ejpam-803	439	5	t	t	PROPN
ejpam-803	439	6	+	+	CCONJ
ejpam-803	439	7	px∑	px∑	VERB
ejpam-803	439	8	j=1	j=1	PROPN
ejpam-803	439	9	bβ	bβ	NOUN
ejpam-803	439	10	j	j	NOUN
ejpam-803	439	11	yt−	yt−	PROPN
ejpam-803	439	12	j+1	j+1	PROPN
ejpam-803	439	13	.	.	PUNCT
ejpam-803	439	14	•	•	NUM
ejpam-803	439	15	model	model	NOUN
ejpam-803	439	16	13	13	NUM
ejpam-803	439	17	(	(	PUNCT
ejpam-803	439	18	autoregressive	autoregressive	ADJ
ejpam-803	439	19	plus	plus	CCONJ
ejpam-803	439	20	smoothed	smooth	VERB
ejpam-803	439	21	a	a	DET
ejpam-803	439	22	(	(	PUNCT
ejpam-803	439	23	j	j	NOUN
ejpam-803	439	24	)	)	PUNCT
ejpam-803	439	25	bk	bk	VERB
ejpam-803	439	26	proxies	proxy	NOUN
ejpam-803	439	27	model	model	NOUN
ejpam-803	439	28	):	):	PUNCT
ejpam-803	439	29	this	this	DET
ejpam-803	439	30	forecast	forecast	NOUN
ejpam-803	439	31	model	model	NOUN
ejpam-803	439	32	is	be	AUX
ejpam-803	439	33	the	the	DET
ejpam-803	439	34	same	same	ADJ
ejpam-803	439	35	as	as	ADP
ejpam-803	439	36	model	model	NOUN
ejpam-803	439	37	9	9	NUM
ejpam-803	439	38	,	,	PUNCT
ejpam-803	439	39	except	except	SCONJ
ejpam-803	439	40	that	that	SCONJ
ejpam-803	439	41	the	the	DET
ejpam-803	439	42	lag	lag	NOUN
ejpam-803	439	43	of	of	ADP
ejpam-803	439	44	the	the	DET
ejpam-803	439	45	autoregressive	autoregressive	ADJ
ejpam-803	439	46	component	component	NOUN
ejpam-803	439	47	is	be	AUX
ejpam-803	439	48	selected	select	VERB
ejpam-803	439	49	by	by	ADP
ejpam-803	439	50	the	the	DET
ejpam-803	439	51	sic	sic	NOUN
ejpam-803	439	52	rather	rather	ADV
ejpam-803	439	53	than	than	ADP
ejpam-803	439	54	restricted	restrict	VERB
ejpam-803	439	55	to	to	ADP
ejpam-803	439	56	1	1	NUM
ejpam-803	439	57	.	.	NOUN
ejpam-803	439	58	•	•	NUM
ejpam-803	439	59	model	model	NOUN
ejpam-803	439	60	14	14	NUM
ejpam-803	439	61	(	(	PUNCT
ejpam-803	439	62	autoregressive	autoregressive	ADJ
ejpam-803	439	63	plus	plus	CCONJ
ejpam-803	439	64	smoothed	smoothed	ADJ
ejpam-803	439	65	m	m	PROPN
ejpam-803	439	66	(	(	PUNCT
ejpam-803	439	67	j	j	NOUN
ejpam-803	439	68	)	)	PUNCT
ejpam-803	439	69	1	1	NUM
ejpam-803	439	70	proxy	proxy	NOUN
ejpam-803	439	71	model	model	NOUN
ejpam-803	439	72	)	)	PUNCT
ejpam-803	439	73	:	:	PUNCT
ejpam-803	439	74	this	this	DET
ejpam-803	439	75	forecast	forecast	NOUN
ejpam-803	439	76	model	model	NOUN
ejpam-803	439	77	is	be	AUX
ejpam-803	439	78	the	the	DET
ejpam-803	439	79	same	same	ADJ
ejpam-803	439	80	as	as	ADP
ejpam-803	439	81	model	model	NOUN
ejpam-803	439	82	10	10	NUM
ejpam-803	439	83	,	,	PUNCT
ejpam-803	439	84	except	except	SCONJ
ejpam-803	439	85	that	that	SCONJ
ejpam-803	439	86	the	the	DET
ejpam-803	439	87	lag	lag	NOUN
ejpam-803	439	88	of	of	ADP
ejpam-803	439	89	the	the	DET
ejpam-803	439	90	autoregressive	autoregressive	ADJ
ejpam-803	439	91	component	component	NOUN
ejpam-803	439	92	is	be	AUX
ejpam-803	439	93	selected	select	VERB
ejpam-803	439	94	by	by	ADP
ejpam-803	439	95	the	the	DET
ejpam-803	439	96	sic	sic	NOUN
ejpam-803	439	97	rather	rather	ADV
ejpam-803	439	98	than	than	ADP
ejpam-803	439	99	restricted	restrict	VERB
ejpam-803	439	100	to	to	ADP
ejpam-803	439	101	1	1	NUM
ejpam-803	439	102	.	.	NOUN
ejpam-803	440	1	•	•	NUM
ejpam-803	440	2	model	model	NOUN
ejpam-803	440	3	15	15	NUM
ejpam-803	440	4	(	(	PUNCT
ejpam-803	440	5	autoregressive	autoregressive	ADJ
ejpam-803	440	6	plus	plus	CCONJ
ejpam-803	440	7	smoothed	smoothed	ADJ
ejpam-803	440	8	m	m	PROPN
ejpam-803	440	9	(	(	PUNCT
ejpam-803	440	10	j	j	NOUN
ejpam-803	440	11	)	)	PUNCT
ejpam-803	440	12	bk	bk	VERB
ejpam-803	440	13	proxies	proxy	NOUN
ejpam-803	440	14	model	model	NOUN
ejpam-803	440	15	):	):	PUNCT
ejpam-803	440	16	this	this	DET
ejpam-803	440	17	forecast	forecast	NOUN
ejpam-803	440	18	model	model	NOUN
ejpam-803	440	19	is	be	AUX
ejpam-803	440	20	the	the	DET
ejpam-803	440	21	same	same	ADJ
ejpam-803	440	22	as	as	ADP
ejpam-803	440	23	model	model	NOUN
ejpam-803	440	24	8	8	NUM
ejpam-803	440	25	,	,	PUNCT
ejpam-803	440	26	except	except	SCONJ
ejpam-803	440	27	that	that	SCONJ
ejpam-803	440	28	the	the	DET
ejpam-803	440	29	lag	lag	NOUN
ejpam-803	440	30	of	of	ADP
ejpam-803	440	31	the	the	DET
ejpam-803	440	32	autoregressive	autoregressive	ADJ
ejpam-803	440	33	component	component	NOUN
ejpam-803	440	34	is	be	AUX
ejpam-803	440	35	selected	select	VERB
ejpam-803	440	36	by	by	ADP
ejpam-803	440	37	the	the	DET
ejpam-803	440	38	sic	sic	NOUN
ejpam-803	440	39	rather	rather	ADV
ejpam-803	440	40	than	than	ADP
ejpam-803	440	41	restricted	restrict	VERB
ejpam-803	440	42	to	to	ADP
ejpam-803	440	43	1	1	NUM
ejpam-803	440	44	.	.	PUNCT
ejpam-803	441	1	results	result	NOUN
ejpam-803	441	2	table	table	VERB
ejpam-803	441	3	1	1	NUM
ejpam-803	441	4	:	:	PUNCT
ejpam-803	441	5	frequency	frequency	NOUN
ejpam-803	441	6	of	of	ADP
ejpam-803	441	7	selected	select	VERB
ejpam-803	441	8	factor	factor	NOUN
ejpam-803	441	9	proxies1	proxies1	NOUN
ejpam-803	441	10	selected	select	VERB
ejpam-803	441	11	factor	factor	NOUN
ejpam-803	441	12	proxy	proxy	NOUN
ejpam-803	441	13	trans	trans	PROPN
ejpam-803	441	14	a(j	a(j	PROPN
ejpam-803	441	15	)	)	PUNCT
ejpam-803	441	16	m(j	m(j	PROPN
ejpam-803	441	17	)	)	PUNCT
ejpam-803	441	18	fspin	fspin	NOUN
ejpam-803	441	19	:	:	PUNCT
ejpam-803	441	20	s&p	s&p	PROPN
ejpam-803	441	21	’s	’s	PART
ejpam-803	441	22	common	common	ADJ
ejpam-803	441	23	stock	stock	NOUN
ejpam-803	441	24	price	price	NOUN
ejpam-803	441	25	index	index	NOUN
ejpam-803	441	26	,	,	PUNCT
ejpam-803	441	27	industrials	industrial	NOUN
ejpam-803	441	28	∆	∆	PROPN
ejpam-803	441	29	log	log	VERB
ejpam-803	441	30	1.000	1.000	NUM
ejpam-803	441	31	1.000	1.000	NUM
ejpam-803	441	32	fspcom	fspcom	NOUN
ejpam-803	441	33	:	:	PUNCT
ejpam-803	441	34	s&p	s&p	PROPN
ejpam-803	441	35	’s	’s	PART
ejpam-803	441	36	common	common	ADJ
ejpam-803	441	37	stock	stock	NOUN
ejpam-803	441	38	price	price	NOUN
ejpam-803	441	39	index	index	NOUN
ejpam-803	441	40	,	,	PUNCT
ejpam-803	441	41	composite	composite	ADJ
ejpam-803	441	42	∆	∆	PROPN
ejpam-803	441	43	log	log	VERB
ejpam-803	441	44	1.000	1.000	NUM
ejpam-803	441	45	1.000	1.000	NUM
ejpam-803	441	46	fsdxp	fsdxp	NOUN
ejpam-803	441	47	:	:	PUNCT
ejpam-803	441	48	s&p	s&p	PROPN
ejpam-803	441	49	’s	’s	PART
ejpam-803	441	50	composite	composite	ADJ
ejpam-803	441	51	common	common	ADJ
ejpam-803	441	52	stock	stock	NOUN
ejpam-803	441	53	:	:	PUNCT
ejpam-803	441	54	dividend	dividend	NOUN
ejpam-803	441	55	yield	yield	NOUN
ejpam-803	441	56	∆lv	∆lv	PROPN
ejpam-803	441	57	1.000	1.000	NUM
ejpam-803	441	58	fygt1	fygt1	NOUN
ejpam-803	441	59	:	:	PUNCT
ejpam-803	441	60	interest	interest	NOUN
ejpam-803	441	61	rate	rate	NOUN
ejpam-803	441	62	:	:	PUNCT
ejpam-803	441	63	u.s	u.s	PROPN
ejpam-803	441	64	.	.	PROPN
ejpam-803	441	65	treasury	treasury	PROPN
ejpam-803	441	66	const	const	PROPN
ejpam-803	441	67	maturities	maturity	NOUN
ejpam-803	441	68	,	,	PUNCT
ejpam-803	441	69	1	1	NUM
ejpam-803	441	70	-	-	SYM
ejpam-803	441	71	yr	yr	NOUN
ejpam-803	441	72	∆lv	∆lv	NOUN
ejpam-803	441	73	1.000	1.000	NUM
ejpam-803	441	74	hsfr	hsfr	NOUN
ejpam-803	441	75	:	:	PUNCT
ejpam-803	441	76	housing	housing	NOUN
ejpam-803	441	77	starts	start	NOUN
ejpam-803	441	78	,	,	PUNCT
ejpam-803	441	79	nonfarm	nonfarm	PROPN
ejpam-803	441	80	log	log	VERB
ejpam-803	441	81	1.000	1.000	NUM
ejpam-803	441	82	0.949	0.949	NUM
ejpam-803	441	83	hsbr	hsbr	NOUN
ejpam-803	441	84	:	:	PUNCT
ejpam-803	441	85	housing	housing	NOUN
ejpam-803	441	86	authorized	authorize	VERB
ejpam-803	441	87	,	,	PUNCT
ejpam-803	441	88	total	total	ADJ
ejpam-803	441	89	new	new	ADJ
ejpam-803	441	90	private	private	ADJ
ejpam-803	441	91	housing	housing	NOUN
ejpam-803	441	92	units	unit	NOUN
ejpam-803	441	93	log	log	VERB
ejpam-803	441	94	0.989	0.989	NUM
ejpam-803	441	95	0.455	0.455	NUM
ejpam-803	441	96	ips10	ips10	NOUN
ejpam-803	441	97	:	:	PUNCT
ejpam-803	441	98	industrial	industrial	ADJ
ejpam-803	441	99	production	production	NOUN
ejpam-803	441	100	index	index	NOUN
ejpam-803	441	101	,	,	PUNCT
ejpam-803	441	102	total	total	ADJ
ejpam-803	441	103	index	index	NOUN
ejpam-803	441	104	∆	∆	PROPN
ejpam-803	441	105	log	log	VERB
ejpam-803	441	106	0.909	0.909	NUM
ejpam-803	441	107	exrus	exrus	NOUN
ejpam-803	441	108	:	:	PUNCT
ejpam-803	442	1	united	united	PROPN
ejpam-803	442	2	states	states	PROPN
ejpam-803	442	3	,	,	PUNCT
ejpam-803	442	4	effective	effective	ADJ
ejpam-803	442	5	exchange	exchange	NOUN
ejpam-803	442	6	rate	rate	NOUN
ejpam-803	442	7	∆	∆	PROPN
ejpam-803	442	8	log	log	VERB
ejpam-803	442	9	0.835	0.835	NUM
ejpam-803	442	10	0.370	0.370	NUM
ejpam-803	442	11	sfygm6	sfygm6	NOUN
ejpam-803	442	12	:	:	PUNCT
ejpam-803	442	13	6	6	NUM
ejpam-803	442	14	month	month	NOUN
ejpam-803	442	15	treasury	treasury	PROPN
ejpam-803	442	16	bills	bill	NOUN
ejpam-803	442	17	federal	federal	ADJ
ejpam-803	442	18	funds	fund	NOUN
ejpam-803	442	19	,	,	PUNCT
ejpam-803	442	20	spread	spread	VERB
ejpam-803	442	21	lv	lv	PROPN
ejpam-803	442	22	0.813	0.813	NUM
ejpam-803	442	23	sfygt5	sfygt5	ADJ
ejpam-803	442	24	:	:	PUNCT
ejpam-803	442	25	5	5	NUM
ejpam-803	442	26	yr	yr	NOUN
ejpam-803	442	27	treasury	treasury	NOUN
ejpam-803	442	28	bond	bond	NOUN
ejpam-803	442	29	const	const	NOUN
ejpam-803	442	30	.	.	PUNCT
ejpam-803	443	1	maturities	maturity	NOUN
ejpam-803	443	2	federal	federal	ADJ
ejpam-803	443	3	funds	fund	NOUN
ejpam-803	443	4	,	,	PUNCT
ejpam-803	443	5	spread	spread	VERB
ejpam-803	443	6	lv	lv	PROPN
ejpam-803	443	7	0.750	0.750	NUM
ejpam-803	443	8	sfygt10	sfygt10	NOUN
ejpam-803	443	9	:	:	PUNCT
ejpam-803	443	10	10	10	NUM
ejpam-803	443	11	yr	yr	NOUN
ejpam-803	443	12	treasury	treasury	NOUN
ejpam-803	443	13	bond	bond	NOUN
ejpam-803	443	14	const	const	NOUN
ejpam-803	443	15	.	.	PUNCT
ejpam-803	444	1	maturities	maturity	NOUN
ejpam-803	444	2	federal	federal	ADJ
ejpam-803	444	3	funds	fund	NOUN
ejpam-803	444	4	,	,	PUNCT
ejpam-803	444	5	spread	spread	VERB
ejpam-803	444	6	lv	lv	PROPN
ejpam-803	444	7	0.659	0.659	NUM
ejpam-803	444	8	0.420	0.420	NUM
ejpam-803	444	9	fygm6	fygm6	NOUN
ejpam-803	444	10	:	:	PUNCT
ejpam-803	444	11	interest	interest	NOUN
ejpam-803	444	12	rate	rate	NOUN
ejpam-803	444	13	,	,	PUNCT
ejpam-803	444	14	u.s	u.s	PROPN
ejpam-803	444	15	.	.	PROPN
ejpam-803	444	16	treasury	treasury	PROPN
ejpam-803	444	17	bills	bill	NOUN
ejpam-803	444	18	,	,	PUNCT
ejpam-803	444	19	sec	sec	PROPN
ejpam-803	444	20	mkt	mkt	PROPN
ejpam-803	444	21	,	,	PUNCT
ejpam-803	444	22	6	6	NUM
ejpam-803	444	23	-	-	PUNCT
ejpam-803	444	24	mo	mo	NOUN
ejpam-803	444	25	.	.	PROPN
ejpam-803	445	1	∆lv	∆lv	PROPN
ejpam-803	445	2	0.460	0.460	NUM
ejpam-803	445	3	a0m077	a0m077	PROPN
ejpam-803	445	4	:	:	PUNCT
ejpam-803	445	5	ratio	ratio	NOUN
ejpam-803	445	6	,	,	PUNCT
ejpam-803	445	7	mfg	mfg	NOUN
ejpam-803	445	8	.	.	PROPN
ejpam-803	445	9	and	and	CCONJ
ejpam-803	445	10	trade	trade	NOUN
ejpam-803	445	11	inventories	inventory	NOUN
ejpam-803	445	12	to	to	ADP
ejpam-803	445	13	sales	sale	NOUN
ejpam-803	445	14	∆lv	∆lv	PROPN
ejpam-803	445	15	0.341	0.341	NUM
ejpam-803	445	16	0.261	0.261	NUM
ejpam-803	445	17	references	reference	NOUN
ejpam-803	445	18	494	494	NUM
ejpam-803	445	19	table	table	NOUN
ejpam-803	445	20	2	2	NUM
ejpam-803	445	21	:	:	PUNCT
ejpam-803	445	22	predictive	predictive	ADJ
ejpam-803	445	23	performance	performance	NOUN
ejpam-803	445	24	of	of	ADP
ejpam-803	445	25	various	various	ADJ
ejpam-803	445	26	models	model	NOUN
ejpam-803	445	27	for	for	ADP
ejpam-803	445	28	price	price	NOUN
ejpam-803	445	29	variables2	variables2	PROPN
ejpam-803	445	30	forecast	forecast	NOUN
ejpam-803	445	31	horizon	horizon	NOUN
ejpam-803	445	32	(	(	PUNCT
ejpam-803	445	33	h	h	NOUN
ejpam-803	445	34	)	)	PUNCT
ejpam-803	445	35	1	1	NUM
ejpam-803	445	36	3	3	NUM
ejpam-803	445	37	12	12	NUM
ejpam-803	445	38	24	24	NUM
ejpam-803	445	39	panel	panel	NOUN
ejpam-803	445	40	a	a	DET
ejpam-803	445	41	:	:	PUNCT
ejpam-803	445	42	cpi	cpi	PROPN
ejpam-803	445	43	model	model	NOUN
ejpam-803	445	44	1	1	NUM
ejpam-803	445	45	3.496	3.496	NUM
ejpam-803	445	46	3.464	3.464	NUM
ejpam-803	445	47	4.299	4.299	NUM
ejpam-803	445	48	4.089	4.089	NUM
ejpam-803	445	49	model	model	NOUN
ejpam-803	445	50	2	2	NUM
ejpam-803	445	51	3.457	3.457	NUM
ejpam-803	445	52	3.330	3.330	NUM
ejpam-803	445	53	4.357	4.357	NUM
ejpam-803	445	54	5.069	5.069	NUM
ejpam-803	445	55	(	(	PUNCT
ejpam-803	445	56	0.136	0.136	NUM
ejpam-803	445	57	)	)	PUNCT
ejpam-803	445	58	(	(	PUNCT
ejpam-803	445	59	0.375	0.375	NUM
ejpam-803	445	60	)	)	PUNCT
ejpam-803	445	61	(	(	PUNCT
ejpam-803	445	62	-0.155	-0.155	X
ejpam-803	445	63	)	)	PUNCT
ejpam-803	445	64	(	(	PUNCT
ejpam-803	445	65	-2.270)†	-2.270)†	PUNCT
ejpam-803	445	66	model	model	NOUN
ejpam-803	445	67	3	3	NUM
ejpam-803	445	68	4.785	4.785	NUM
ejpam-803	445	69	5.270	5.270	NUM
ejpam-803	445	70	6.347	6.347	NUM
ejpam-803	445	71	6.129	6.129	NUM
ejpam-803	445	72	(	(	PUNCT
ejpam-803	445	73	-3.788)†	-3.788)†	PROPN
ejpam-803	445	74	(	(	PUNCT
ejpam-803	445	75	-3.795)†	-3.795)†	PROPN
ejpam-803	445	76	(	(	PUNCT
ejpam-803	445	77	-3.768)†	-3.768)†	INTJ
ejpam-803	445	78	(	(	PUNCT
ejpam-803	445	79	-3.087)†	-3.087)†	PROPN
ejpam-803	445	80	model	model	NOUN
ejpam-803	445	81	4	4	NUM
ejpam-803	445	82	3.809	3.809	NUM
ejpam-803	445	83	4.075	4.075	NUM
ejpam-803	445	84	4.792	4.792	NUM
ejpam-803	445	85	5.305	5.305	NUM
ejpam-803	445	86	(	(	PUNCT
ejpam-803	445	87	-1.164	-1.164	NOUN
ejpam-803	445	88	)	)	PUNCT
ejpam-803	445	89	(	(	PUNCT
ejpam-803	445	90	-1.873)†	-1.873)†	PROPN
ejpam-803	445	91	(	(	PUNCT
ejpam-803	445	92	-1.336	-1.336	NOUN
ejpam-803	445	93	)	)	PUNCT
ejpam-803	445	94	(	(	PUNCT
ejpam-803	445	95	-2.737)†	-2.737)†	ADJ
ejpam-803	445	96	model	model	NOUN
ejpam-803	445	97	5	5	NUM
ejpam-803	445	98	4.079	4.079	NUM
ejpam-803	445	99	4.592	4.592	NUM
ejpam-803	445	100	5.255	5.255	NUM
ejpam-803	445	101	5.337	5.337	NUM
ejpam-803	445	102	(	(	PUNCT
ejpam-803	445	103	-1.125	-1.125	NUM
ejpam-803	445	104	)	)	PUNCT
ejpam-803	445	105	(	(	PUNCT
ejpam-803	446	1	-1.775)†	-1.775)†	NOUN
ejpam-803	446	2	(	(	PUNCT
ejpam-803	446	3	-1.650)†	-1.650)†	PROPN
ejpam-803	446	4	(	(	PUNCT
ejpam-803	446	5	-1.878)†	-1.878)†	NOUN
ejpam-803	446	6	model	model	NOUN
ejpam-803	446	7	6	6	NUM
ejpam-803	446	8	3.802	3.802	NUM
ejpam-803	446	9	4.107	4.107	NUM
ejpam-803	446	10	4.757	4.757	NUM
ejpam-803	446	11	4.891	4.891	NUM
ejpam-803	446	12	(	(	PUNCT
ejpam-803	446	13	-1.139	-1.139	ADJ
ejpam-803	446	14	)	)	PUNCT
ejpam-803	446	15	(	(	PUNCT
ejpam-803	446	16	-2.011)†	-2.011)†	PROPN
ejpam-803	446	17	(	(	PUNCT
ejpam-803	446	18	-1.347	-1.347	ADJ
ejpam-803	446	19	)	)	PUNCT
ejpam-803	446	20	(	(	PUNCT
ejpam-803	446	21	-1.770)†	-1.770)†	NOUN
ejpam-803	446	22	model	model	VERB
ejpam-803	446	23	7	7	NUM
ejpam-803	446	24	4.516	4.516	NUM
ejpam-803	446	25	4.747	4.747	NUM
ejpam-803	446	26	5.095	5.095	NUM
ejpam-803	446	27	5.103	5.103	NUM
ejpam-803	446	28	(	(	PUNCT
ejpam-803	446	29	-1.479	-1.479	PROPN
ejpam-803	446	30	)	)	PUNCT
ejpam-803	446	31	(	(	PUNCT
ejpam-803	446	32	-2.223)†	-2.223)†	X
ejpam-803	446	33	(	(	PUNCT
ejpam-803	446	34	-1.480	-1.480	NOUN
ejpam-803	446	35	)	)	PUNCT
ejpam-803	446	36	(	(	PUNCT
ejpam-803	446	37	-1.600	-1.600	NOUN
ejpam-803	446	38	)	)	PUNCT
ejpam-803	446	39	model	model	NOUN
ejpam-803	446	40	8	8	NUM
ejpam-803	446	41	3.810	3.810	NUM
ejpam-803	446	42	4.111	4.111	NUM
ejpam-803	446	43	4.759	4.759	NUM
ejpam-803	446	44	4.960	4.960	NUM
ejpam-803	446	45	(	(	PUNCT
ejpam-803	446	46	-1.169	-1.169	NOUN
ejpam-803	446	47	)	)	PUNCT
ejpam-803	446	48	(	(	PUNCT
ejpam-803	446	49	-2.048)†	-2.048)†	INTJ
ejpam-803	446	50	(	(	PUNCT
ejpam-803	446	51	-1.382	-1.382	PROPN
ejpam-803	446	52	)	)	PUNCT
ejpam-803	446	53	(	(	PUNCT
ejpam-803	446	54	-2.014)†	-2.014)†	ADP
ejpam-803	446	55	model	model	NOUN
ejpam-803	446	56	9	9	NUM
ejpam-803	446	57	3.677	3.677	NUM
ejpam-803	446	58	3.921	3.921	NUM
ejpam-803	446	59	4.472	4.472	NUM
ejpam-803	446	60	4.665	4.665	NUM
ejpam-803	446	61	(	(	PUNCT
ejpam-803	446	62	-0.775	-0.775	PROPN
ejpam-803	446	63	)	)	PUNCT
ejpam-803	446	64	(	(	PUNCT
ejpam-803	446	65	-1.798)†	-1.798)†	INTJ
ejpam-803	446	66	(	(	PUNCT
ejpam-803	446	67	-0.618	-0.618	NOUN
ejpam-803	446	68	)	)	PUNCT
ejpam-803	446	69	(	(	PUNCT
ejpam-803	446	70	-1.645)†	-1.645)†	NOUN
ejpam-803	446	71	model	model	NOUN
ejpam-803	446	72	10	10	NUM
ejpam-803	446	73	3.819	3.819	NUM
ejpam-803	446	74	4.101	4.101	NUM
ejpam-803	446	75	4.769	4.769	NUM
ejpam-803	446	76	5.208	5.208	NUM
ejpam-803	446	77	(	(	PUNCT
ejpam-803	446	78	-1.212	-1.212	NUM
ejpam-803	446	79	)	)	PUNCT
ejpam-803	446	80	(	(	PUNCT
ejpam-803	446	81	-2.040)†	-2.040)†	X
ejpam-803	446	82	(	(	PUNCT
ejpam-803	446	83	-1.304	-1.304	NOUN
ejpam-803	446	84	)	)	PUNCT
ejpam-803	446	85	(	(	PUNCT
ejpam-803	446	86	-2.576)†	-2.576)†	ADJ
ejpam-803	446	87	model	model	NOUN
ejpam-803	446	88	11	11	NUM
ejpam-803	446	89	3.720	3.720	NUM
ejpam-803	446	90	4.050	4.050	NUM
ejpam-803	446	91	4.563	4.563	NUM
ejpam-803	446	92	4.740	4.740	NUM
ejpam-803	446	93	(	(	PUNCT
ejpam-803	446	94	-0.935	-0.935	PROPN
ejpam-803	446	95	)	)	PUNCT
ejpam-803	446	96	(	(	PUNCT
ejpam-803	446	97	-2.022)†	-2.022)†	X
ejpam-803	446	98	(	(	PUNCT
ejpam-803	446	99	-0.881	-0.881	PROPN
ejpam-803	446	100	)	)	PUNCT
ejpam-803	446	101	(	(	PUNCT
ejpam-803	446	102	-1.659)†	-1.659)†	NOUN
ejpam-803	446	103	model	model	NOUN
ejpam-803	446	104	12	12	NUM
ejpam-803	446	105	3.340	3.340	NUM
ejpam-803	446	106	3.158	3.158	NUM
ejpam-803	446	107	4.020	4.020	NUM
ejpam-803	446	108	4.448	4.448	NUM
ejpam-803	446	109	(	(	PUNCT
ejpam-803	446	110	0.549	0.549	NUM
ejpam-803	446	111	)	)	PUNCT
ejpam-803	446	112	(	(	PUNCT
ejpam-803	446	113	0.995	0.995	NUM
ejpam-803	446	114	)	)	PUNCT
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ejpam-803	446	117	)	)	PUNCT
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ejpam-803	446	120	)	)	PUNCT
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ejpam-803	446	129	)	)	PUNCT
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ejpam-803	446	132	)	)	PUNCT
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ejpam-803	446	135	)	)	PUNCT
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ejpam-803	446	147	)	)	PUNCT
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ejpam-803	446	150	)	)	PUNCT
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ejpam-803	446	167	)	)	PUNCT
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ejpam-803	446	170	)	)	PUNCT
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ejpam-803	446	173	)	)	PUNCT
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ejpam-803	446	181	:	:	PUNCT
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ejpam-803	446	186	)	)	PUNCT
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ejpam-803	446	204	)	)	PUNCT
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ejpam-803	446	247	)	)	PUNCT
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ejpam-803	447	119	)	)	PUNCT
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ejpam-803	447	122	)	)	PUNCT
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ejpam-803	447	126	)	)	PUNCT
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ejpam-803	447	129	)	)	PUNCT
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ejpam-803	447	138	)	)	PUNCT
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ejpam-803	447	141	)	)	PUNCT
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ejpam-803	447	144	)	)	PUNCT
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ejpam-803	447	155	)	)	PUNCT
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ejpam-803	447	158	)	)	PUNCT
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ejpam-803	447	173	:	:	PUNCT
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ejpam-803	447	202	)	)	PUNCT
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ejpam-803	447	249	)	)	PUNCT
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ejpam-803	447	252	)	)	PUNCT
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ejpam-803	447	267	)	)	PUNCT
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ejpam-803	447	270	)	)	PUNCT
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ejpam-803	447	279	)	)	PUNCT
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ejpam-803	447	284	)	)	PUNCT
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ejpam-803	447	287	)	)	PUNCT
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ejpam-803	447	296	)	)	PUNCT
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ejpam-803	447	299	)	)	PUNCT
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ejpam-803	447	302	)	)	PUNCT
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ejpam-803	447	305	)	)	PUNCT
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ejpam-803	448	8	)	)	PUNCT
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ejpam-803	448	11	)	)	PUNCT
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ejpam-803	448	14	)	)	PUNCT
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ejpam-803	448	17	)	)	PUNCT
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ejpam-803	448	26	)	)	PUNCT
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ejpam-803	448	31	)	)	PUNCT
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ejpam-803	448	34	)	)	PUNCT
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ejpam-803	448	43	)	)	PUNCT
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ejpam-803	448	46	)	)	PUNCT
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ejpam-803	448	49	)	)	PUNCT
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ejpam-803	448	52	)	)	PUNCT
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ejpam-803	448	63	)	)	PUNCT
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ejpam-803	448	66	)	)	PUNCT
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ejpam-803	448	69	)	)	PUNCT
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ejpam-803	448	76	(	(	PUNCT
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ejpam-803	448	78	)	)	PUNCT
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ejpam-803	448	81	)	)	PUNCT
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ejpam-803	448	84	)	)	PUNCT
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ejpam-803	448	87	)	)	PUNCT
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ejpam-803	448	92	2.465	2.465	NUM
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ejpam-803	448	95	-1.784)†	-1.784)†	PROPN
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ejpam-803	448	98	)	)	PUNCT
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ejpam-803	448	101	)	)	PUNCT
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ejpam-803	448	104	)	)	PUNCT
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ejpam-803	448	115	)	)	PUNCT
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ejpam-803	448	117	-0.327	-0.327	PROPN
ejpam-803	448	118	)	)	PUNCT
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ejpam-803	448	121	)	)	PUNCT
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ejpam-803	448	125	3	3	NUM
ejpam-803	448	126	:	:	PUNCT
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ejpam-803	448	130	various	various	ADJ
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ejpam-803	448	133	output	output	NOUN
ejpam-803	448	134	,	,	PUNCT
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ejpam-803	448	143	)	)	PUNCT
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ejpam-803	448	145	3	3	NUM
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ejpam-803	448	147	24	24	NUM
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ejpam-803	448	149	a	a	DET
ejpam-803	448	150	:	:	PUNCT
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ejpam-803	448	152	production	production	NOUN
ejpam-803	448	153	model	model	NOUN
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ejpam-803	449	5	model	model	NOUN
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ejpam-803	449	8	2.490	2.490	NUM
ejpam-803	449	9	2.811	2.811	NUM
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ejpam-803	449	13	)	)	PUNCT
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ejpam-803	449	16	)	)	PUNCT
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ejpam-803	449	19	)	)	PUNCT
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ejpam-803	449	22	)	)	PUNCT
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ejpam-803	449	43	(	(	PUNCT
ejpam-803	449	44	-3.270)†	-3.270)†	X
ejpam-803	449	45	(	(	PUNCT
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ejpam-803	449	47	)	)	PUNCT
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ejpam-803	449	50	)	)	PUNCT
ejpam-803	449	51	(	(	PUNCT
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ejpam-803	449	53	)	)	PUNCT
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ejpam-803	449	60	(	(	PUNCT
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ejpam-803	449	62	)	)	PUNCT
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ejpam-803	449	65	)	)	PUNCT
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ejpam-803	449	68	)	)	PUNCT
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ejpam-803	449	71	)	)	PUNCT
ejpam-803	449	72	model	model	NOUN
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ejpam-803	449	82	)	)	PUNCT
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ejpam-803	449	85	)	)	PUNCT
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ejpam-803	449	88	)	)	PUNCT
ejpam-803	449	89	model	model	NOUN
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ejpam-803	449	99	)	)	PUNCT
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ejpam-803	449	102	)	)	PUNCT
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ejpam-803	449	118	)	)	PUNCT
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ejpam-803	449	121	)	)	PUNCT
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ejpam-803	449	124	)	)	PUNCT
ejpam-803	449	125	*	*	PUNCT
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ejpam-803	449	130	2.912	2.912	NUM
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ejpam-803	449	134	)	)	PUNCT
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ejpam-803	449	137	)	)	PUNCT
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ejpam-803	449	140	)	)	PUNCT
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ejpam-803	449	143	)	)	PUNCT
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ejpam-803	449	154	)	)	PUNCT
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ejpam-803	449	158	)	)	PUNCT
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ejpam-803	449	161	)	)	PUNCT
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ejpam-803	449	172	)	)	PUNCT
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ejpam-803	449	175	)	)	PUNCT
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ejpam-803	449	179	)	)	PUNCT
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ejpam-803	449	191	)	)	PUNCT
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ejpam-803	449	194	)	)	PUNCT
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ejpam-803	449	197	)	)	PUNCT
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ejpam-803	449	203	2.912	2.912	NUM
ejpam-803	449	204	2.681	2.681	NUM
ejpam-803	449	205	(	(	PUNCT
ejpam-803	449	206	-1.542	-1.542	NOUN
ejpam-803	449	207	)	)	PUNCT
ejpam-803	449	208	(	(	PUNCT
ejpam-803	449	209	0.490	0.490	NUM
ejpam-803	449	210	)	)	PUNCT
ejpam-803	449	211	(	(	PUNCT
ejpam-803	449	212	0.803	0.803	NUM
ejpam-803	449	213	)	)	PUNCT
ejpam-803	449	214	(	(	PUNCT
ejpam-803	449	215	1.504	1.504	NUM
ejpam-803	449	216	)	)	PUNCT
ejpam-803	449	217	model	model	NOUN
ejpam-803	449	218	14	14	NUM
ejpam-803	449	219	2.453	2.453	NUM
ejpam-803	449	220	2.123	2.123	NUM
ejpam-803	449	221	2.758	2.758	NUM
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ejpam-803	449	225	)	)	PUNCT
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ejpam-803	449	228	)	)	PUNCT
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ejpam-803	449	230	(	(	PUNCT
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ejpam-803	449	232	)	)	PUNCT
ejpam-803	449	233	(	(	PUNCT
ejpam-803	449	234	0.232	0.232	NUM
ejpam-803	449	235	)	)	PUNCT
ejpam-803	449	236	model	model	NOUN
ejpam-803	449	237	15	15	NUM
ejpam-803	449	238	2.502	2.502	NUM
ejpam-803	449	239	2.240	2.240	NUM
ejpam-803	449	240	2.654	2.654	NUM
ejpam-803	449	241	2.609	2.609	NUM
ejpam-803	449	242	(	(	PUNCT
ejpam-803	449	243	-1.840)†	-1.840)†	PROPN
ejpam-803	449	244	(	(	PUNCT
ejpam-803	449	245	1.608	1.608	NUM
ejpam-803	449	246	)	)	PUNCT
ejpam-803	449	247	(	(	PUNCT
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ejpam-803	449	249	)	)	PUNCT
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ejpam-803	449	251	(	(	PUNCT
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ejpam-803	449	253	)	)	PUNCT
ejpam-803	449	254	*	*	NOUN
ejpam-803	449	255	references	reference	NOUN
ejpam-803	449	256	498	498	NUM
ejpam-803	449	257	table	table	NOUN
ejpam-803	449	258	3	3	NUM
ejpam-803	449	259	continued	continue	VERB
ejpam-803	449	260	panel	panel	NOUN
ejpam-803	449	261	b	b	NOUN
ejpam-803	449	262	:	:	PUNCT
ejpam-803	449	263	personal	personal	ADJ
ejpam-803	449	264	income	income	NOUN
ejpam-803	449	265	less	less	ADJ
ejpam-803	449	266	transfers	transfer	NOUN
ejpam-803	449	267	model	model	VERB
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ejpam-803	449	269	5.919	5.919	NUM
ejpam-803	449	270	5.841	5.841	NUM
ejpam-803	449	271	5.660	5.660	NUM
ejpam-803	449	272	6.235	6.235	NUM
ejpam-803	449	273	model	model	NOUN
ejpam-803	449	274	2	2	NUM
ejpam-803	449	275	7.167	7.167	NUM
ejpam-803	449	276	6.811	6.811	NUM
ejpam-803	449	277	5.576	5.576	NUM
ejpam-803	449	278	5.994	5.994	NUM
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ejpam-803	449	280	-1.444	-1.444	NOUN
ejpam-803	449	281	)	)	PUNCT
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ejpam-803	449	283	-1.522	-1.522	NOUN
ejpam-803	449	284	)	)	PUNCT
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ejpam-803	449	287	)	)	PUNCT
ejpam-803	449	288	(	(	PUNCT
ejpam-803	449	289	1.841	1.841	NUM
ejpam-803	449	290	)	)	PUNCT
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ejpam-803	449	292	model	model	NOUN
ejpam-803	449	293	3	3	NUM
ejpam-803	449	294	15.316	15.316	NUM
ejpam-803	449	295	12.858	12.858	NUM
ejpam-803	449	296	6.533	6.533	NUM
ejpam-803	449	297	10.327	10.327	NUM
ejpam-803	449	298	(	(	PUNCT
ejpam-803	449	299	-2.046)†	-2.046)†	PROPN
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ejpam-803	449	304	)	)	PUNCT
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ejpam-803	449	307	)	)	PUNCT
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ejpam-803	449	310	6.408	6.408	NUM
ejpam-803	450	1	6.028	6.028	NUM
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ejpam-803	450	9	)	)	PUNCT
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ejpam-803	450	12	)	)	PUNCT
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ejpam-803	450	15	)	)	PUNCT
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ejpam-803	450	24	)	)	PUNCT
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ejpam-803	450	27	)	)	PUNCT
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ejpam-803	450	30	)	)	PUNCT
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ejpam-803	450	33	)	)	PUNCT
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ejpam-803	450	41	-0.674	-0.674	NOUN
ejpam-803	450	42	)	)	PUNCT
ejpam-803	450	43	(	(	PUNCT
ejpam-803	450	44	-0.790	-0.790	NOUN
ejpam-803	450	45	)	)	PUNCT
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ejpam-803	450	48	)	)	PUNCT
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ejpam-803	450	51	)	)	PUNCT
ejpam-803	450	52	*	*	PUNCT
ejpam-803	450	53	model	model	NOUN
ejpam-803	450	54	7	7	NUM
ejpam-803	450	55	6.570	6.570	NUM
ejpam-803	450	56	6.249	6.249	NUM
ejpam-803	450	57	5.518	5.518	NUM
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ejpam-803	450	59	(	(	PUNCT
ejpam-803	450	60	-0.941	-0.941	PROPN
ejpam-803	450	61	)	)	PUNCT
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ejpam-803	450	63	-1.328	-1.328	X
ejpam-803	450	64	)	)	PUNCT
ejpam-803	450	65	(	(	PUNCT
ejpam-803	450	66	0.418	0.418	NUM
ejpam-803	450	67	)	)	PUNCT
ejpam-803	450	68	(	(	PUNCT
ejpam-803	450	69	2.272	2.272	NUM
ejpam-803	450	70	)	)	PUNCT
ejpam-803	450	71	*	*	PUNCT
ejpam-803	450	72	model	model	NOUN
ejpam-803	450	73	8	8	NUM
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ejpam-803	450	77	6.075	6.075	NUM
ejpam-803	450	78	(	(	PUNCT
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ejpam-803	450	80	)	)	PUNCT
ejpam-803	450	81	(	(	PUNCT
ejpam-803	450	82	-0.764	-0.764	NOUN
ejpam-803	450	83	)	)	PUNCT
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ejpam-803	450	86	)	)	PUNCT
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ejpam-803	450	89	)	)	PUNCT
ejpam-803	450	90	*	*	PUNCT
ejpam-803	450	91	model	model	NOUN
ejpam-803	450	92	9	9	NUM
ejpam-803	450	93	6.334	6.334	NUM
ejpam-803	450	94	6.147	6.147	NUM
ejpam-803	450	95	5.690	5.690	NUM
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ejpam-803	450	97	(	(	PUNCT
ejpam-803	450	98	-0.741	-0.741	ADV
ejpam-803	450	99	)	)	PUNCT
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ejpam-803	450	101	-2.102)†	-2.102)†	PROPN
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ejpam-803	450	103	-0.074	-0.074	PROPN
ejpam-803	450	104	)	)	PUNCT
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ejpam-803	450	106	0.969	0.969	NUM
ejpam-803	450	107	)	)	PUNCT
ejpam-803	450	108	model	model	NOUN
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ejpam-803	450	116	)	)	PUNCT
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ejpam-803	450	118	-0.834	-0.834	NUM
ejpam-803	450	119	)	)	PUNCT
ejpam-803	450	120	(	(	PUNCT
ejpam-803	450	121	0.940	0.940	NUM
ejpam-803	450	122	)	)	PUNCT
ejpam-803	450	123	(	(	PUNCT
ejpam-803	450	124	1.581	1.581	NUM
ejpam-803	450	125	)	)	PUNCT
ejpam-803	450	126	model	model	NOUN
ejpam-803	450	127	11	11	NUM
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ejpam-803	450	129	6.057	6.057	NUM
ejpam-803	450	130	5.358	5.358	NUM
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ejpam-803	450	132	(	(	PUNCT
ejpam-803	450	133	-0.610	-0.610	PROPN
ejpam-803	450	134	)	)	PUNCT
ejpam-803	450	135	(	(	PUNCT
ejpam-803	450	136	-0.782	-0.782	NUM
ejpam-803	450	137	)	)	PUNCT
ejpam-803	450	138	(	(	PUNCT
ejpam-803	450	139	1.347	1.347	NUM
ejpam-803	450	140	)	)	PUNCT
ejpam-803	450	141	(	(	PUNCT
ejpam-803	450	142	1.887	1.887	NUM
ejpam-803	450	143	)	)	PUNCT
ejpam-803	450	144	*	*	PUNCT
ejpam-803	450	145	model	model	NOUN
ejpam-803	450	146	12	12	NUM
ejpam-803	450	147	6.766	6.766	NUM
ejpam-803	450	148	6.674	6.674	NUM
ejpam-803	450	149	5.490	5.490	NUM
ejpam-803	450	150	6.075	6.075	NUM
ejpam-803	450	151	(	(	PUNCT
ejpam-803	450	152	-1.268	-1.268	NOUN
ejpam-803	450	153	)	)	PUNCT
ejpam-803	450	154	(	(	PUNCT
ejpam-803	450	155	-1.327	-1.327	NOUN
ejpam-803	450	156	)	)	PUNCT
ejpam-803	450	157	(	(	PUNCT
ejpam-803	450	158	0.767	0.767	NUM
ejpam-803	450	159	)	)	PUNCT
ejpam-803	450	160	(	(	PUNCT
ejpam-803	450	161	1.840	1.840	NUM
ejpam-803	450	162	)	)	PUNCT
ejpam-803	450	163	*	*	PUNCT
ejpam-803	450	164	model	model	NOUN
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ejpam-803	450	167	6.791	6.791	NUM
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ejpam-803	450	171	-1.220	-1.220	NOUN
ejpam-803	450	172	)	)	PUNCT
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ejpam-803	450	174	-1.589	-1.589	NOUN
ejpam-803	450	175	)	)	PUNCT
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ejpam-803	450	177	-0.676	-0.676	PUNCT
ejpam-803	450	178	)	)	PUNCT
ejpam-803	450	179	(	(	PUNCT
ejpam-803	450	180	1.004	1.004	NUM
ejpam-803	450	181	)	)	PUNCT
ejpam-803	450	182	model	model	NOUN
ejpam-803	450	183	14	14	NUM
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ejpam-803	450	190	)	)	PUNCT
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ejpam-803	450	193	)	)	PUNCT
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ejpam-803	450	195	0.269	0.269	NUM
ejpam-803	450	196	)	)	PUNCT
ejpam-803	450	197	(	(	PUNCT
ejpam-803	450	198	1.548	1.548	NUM
ejpam-803	450	199	)	)	PUNCT
ejpam-803	450	200	model	model	NOUN
ejpam-803	450	201	15	15	NUM
ejpam-803	450	202	6.649	6.649	NUM
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ejpam-803	450	205	6.042	6.042	NUM
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ejpam-803	450	207	-1.022	-1.022	NOUN
ejpam-803	450	208	)	)	PUNCT
ejpam-803	450	209	(	(	PUNCT
ejpam-803	450	210	-1.417	-1.417	PUNCT
ejpam-803	450	211	)	)	PUNCT
ejpam-803	450	212	(	(	PUNCT
ejpam-803	450	213	0.936	0.936	NUM
ejpam-803	450	214	)	)	PUNCT
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ejpam-803	450	217	)	)	PUNCT
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ejpam-803	450	220	499	499	NUM
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ejpam-803	450	222	3	3	NUM
ejpam-803	450	223	continued	continue	VERB
ejpam-803	450	224	panel	panel	NOUN
ejpam-803	450	225	c	c	NOUN
ejpam-803	450	226	:	:	PUNCT
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ejpam-803	450	235	model	model	NOUN
ejpam-803	450	236	2	2	NUM
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ejpam-803	450	243	)	)	PUNCT
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ejpam-803	450	247	)	)	PUNCT
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ejpam-803	450	249	0.561	0.561	NUM
ejpam-803	450	250	)	)	PUNCT
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ejpam-803	450	253	model	model	NOUN
ejpam-803	450	254	3	3	NUM
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ejpam-803	450	261	)	)	PUNCT
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ejpam-803	450	264	)	)	PUNCT
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ejpam-803	450	267	)	)	PUNCT
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ejpam-803	450	278	)	)	PUNCT
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ejpam-803	450	286	)	)	PUNCT
ejpam-803	450	287	model	model	NOUN
ejpam-803	450	288	5	5	NUM
ejpam-803	450	289	2.360	2.360	NUM
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ejpam-803	450	291	3.345	3.345	NUM
ejpam-803	450	292	2.726	2.726	NUM
ejpam-803	450	293	(	(	PUNCT
ejpam-803	450	294	-2.191)†	-2.191)†	PROPN
ejpam-803	450	295	(	(	PUNCT
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ejpam-803	450	299	)	)	PUNCT
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ejpam-803	450	302	)	)	PUNCT
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ejpam-803	450	308	3.566	3.566	NUM
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ejpam-803	450	312	)	)	PUNCT
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ejpam-803	450	329	)	)	PUNCT
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ejpam-803	450	334	)	)	PUNCT
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ejpam-803	450	337	)	)	PUNCT
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ejpam-803	451	4	)	)	PUNCT
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ejpam-803	451	7	)	)	PUNCT
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ejpam-803	451	16	)	)	PUNCT
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ejpam-803	451	21	)	)	PUNCT
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ejpam-803	451	24	)	)	PUNCT
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ejpam-803	451	37	)	)	PUNCT
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ejpam-803	451	40	)	)	PUNCT
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ejpam-803	451	51	)	)	PUNCT
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ejpam-803	451	56	)	)	PUNCT
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ejpam-803	451	60	)	)	PUNCT
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ejpam-803	451	68	(	(	PUNCT
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ejpam-803	451	70	)	)	PUNCT
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ejpam-803	451	74	)	)	PUNCT
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ejpam-803	451	77	)	)	PUNCT
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ejpam-803	451	80	)	)	PUNCT
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ejpam-803	451	89	)	)	PUNCT
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ejpam-803	451	93	)	)	PUNCT
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ejpam-803	451	95	0.786	0.786	NUM
ejpam-803	451	96	)	)	PUNCT
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ejpam-803	451	99	)	)	PUNCT
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ejpam-803	451	109	)	)	PUNCT
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ejpam-803	451	113	)	)	PUNCT
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ejpam-803	451	116	)	)	PUNCT
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ejpam-803	451	119	model	model	VERB
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ejpam-803	451	121	1.257	1.257	NUM
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ejpam-803	451	125	(	(	PUNCT
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ejpam-803	451	127	)	)	PUNCT
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ejpam-803	451	131	)	)	PUNCT
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ejpam-803	451	134	)	)	PUNCT
ejpam-803	451	135	*	*	PUNCT
ejpam-803	451	136	(	(	PUNCT
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ejpam-803	451	138	)	)	PUNCT
ejpam-803	451	139	*	*	PUNCT
ejpam-803	451	140	references	reference	NOUN
ejpam-803	451	141	500	500	NUM
ejpam-803	451	142	table	table	NOUN
ejpam-803	451	143	3	3	NUM
ejpam-803	451	144	continued	continue	VERB
ejpam-803	451	145	panel	panel	NOUN
ejpam-803	451	146	d	d	NOUN
ejpam-803	451	147	:	:	PUNCT
ejpam-803	451	148	manufacturing	manufacturing	NOUN
ejpam-803	451	149	and	and	CCONJ
ejpam-803	451	150	trade	trade	NOUN
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ejpam-803	451	158	model	model	NOUN
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ejpam-803	451	161	7.729	7.729	NUM
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ejpam-803	451	166	)	)	PUNCT
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ejpam-803	451	169	)	)	PUNCT
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ejpam-803	451	173	)	)	PUNCT
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ejpam-803	451	175	0.912	0.912	NUM
ejpam-803	451	176	)	)	PUNCT
ejpam-803	451	177	model	model	NOUN
ejpam-803	451	178	3	3	NUM
ejpam-803	451	179	21.172	21.172	NUM
ejpam-803	451	180	12.915	12.915	NUM
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ejpam-803	451	183	(	(	PUNCT
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ejpam-803	451	191	model	model	NOUN
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ejpam-803	451	201	)	)	PUNCT
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ejpam-803	451	204	)	)	PUNCT
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ejpam-803	451	207	)	)	PUNCT
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ejpam-803	451	216	)	)	PUNCT
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ejpam-803	451	219	)	)	PUNCT
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ejpam-803	451	226	)	)	PUNCT
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ejpam-803	451	235	)	)	PUNCT
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ejpam-803	451	245	)	)	PUNCT
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ejpam-803	451	254	)	)	PUNCT
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ejpam-803	451	257	)	)	PUNCT
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ejpam-803	451	260	)	)	PUNCT
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ejpam-803	451	275	)	)	PUNCT
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ejpam-803	451	315	)	)	PUNCT
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ejpam-803	451	318	)	)	PUNCT
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ejpam-803	452	13	)	)	PUNCT
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ejpam-803	452	16	)	)	PUNCT
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ejpam-803	452	25	)	)	PUNCT
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ejpam-803	452	28	)	)	PUNCT
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ejpam-803	452	30	(	(	PUNCT
ejpam-803	452	31	1.447	1.447	NUM
ejpam-803	452	32	)	)	PUNCT
ejpam-803	452	33	(	(	PUNCT
ejpam-803	452	34	0.910	0.910	NUM
ejpam-803	452	35	)	)	PUNCT
ejpam-803	452	36	model	model	NOUN
ejpam-803	452	37	13	13	NUM
ejpam-803	452	38	7.199	7.199	NUM
ejpam-803	452	39	7.836	7.836	NUM
ejpam-803	452	40	8.013	8.013	NUM
ejpam-803	452	41	8.033	8.033	NUM
ejpam-803	452	42	(	(	PUNCT
ejpam-803	452	43	-0.458	-0.458	NOUN
ejpam-803	452	44	)	)	PUNCT
ejpam-803	452	45	(	(	PUNCT
ejpam-803	452	46	1.589	1.589	NUM
ejpam-803	452	47	)	)	PUNCT
ejpam-803	452	48	(	(	PUNCT
ejpam-803	452	49	1.422	1.422	NUM
ejpam-803	452	50	)	)	PUNCT
ejpam-803	452	51	(	(	PUNCT
ejpam-803	452	52	0.602	0.602	NUM
ejpam-803	452	53	)	)	PUNCT
ejpam-803	452	54	model	model	NOUN
ejpam-803	452	55	14	14	NUM
ejpam-803	452	56	7.195	7.195	NUM
ejpam-803	452	57	7.895	7.895	NUM
ejpam-803	452	58	8.091	8.091	NUM
ejpam-803	452	59	7.964	7.964	NUM
ejpam-803	452	60	(	(	PUNCT
ejpam-803	452	61	-0.398	-0.398	NUM
ejpam-803	452	62	)	)	PUNCT
ejpam-803	452	63	(	(	PUNCT
ejpam-803	452	64	1.546	1.546	NUM
ejpam-803	452	65	)	)	PUNCT
ejpam-803	452	66	(	(	PUNCT
ejpam-803	452	67	1.424	1.424	NUM
ejpam-803	452	68	)	)	PUNCT
ejpam-803	452	69	(	(	PUNCT
ejpam-803	452	70	0.763	0.763	NUM
ejpam-803	452	71	)	)	PUNCT
ejpam-803	452	72	model	model	NOUN
ejpam-803	452	73	15	15	NUM
ejpam-803	453	1	7.465	7.465	NUM
ejpam-803	453	2	7.917	7.917	NUM
ejpam-803	453	3	8.092	8.092	NUM
ejpam-803	453	4	7.984	7.984	NUM
ejpam-803	453	5	(	(	PUNCT
ejpam-803	453	6	-1.019	-1.019	PROPN
ejpam-803	453	7	)	)	PUNCT
ejpam-803	453	8	(	(	PUNCT
ejpam-803	453	9	1.585	1.585	NUM
ejpam-803	453	10	)	)	PUNCT
ejpam-803	453	11	(	(	PUNCT
ejpam-803	453	12	1.237	1.237	NUM
ejpam-803	453	13	)	)	PUNCT
ejpam-803	453	14	(	(	PUNCT
ejpam-803	453	15	0.687	0.687	NUM
ejpam-803	453	16	)	)	PUNCT
ejpam-803	453	17	1proxies	1proxies	PROPN
ejpam-803	453	18	that	that	PRON
ejpam-803	453	19	were	be	AUX
ejpam-803	453	20	frequently	frequently	ADV
ejpam-803	453	21	selected	select	VERB
ejpam-803	453	22	using	use	VERB
ejpam-803	453	23	the	the	DET
ejpam-803	453	24	a	a	PROPN
ejpam-803	453	25	(	(	PUNCT
ejpam-803	453	26	j	j	NOUN
ejpam-803	453	27	)	)	PUNCT
ejpam-803	453	28	and	and	CCONJ
ejpam-803	453	29	m	m	PROPN
ejpam-803	453	30	(	(	PUNCT
ejpam-803	453	31	j	j	NOUN
ejpam-803	453	32	)	)	PUNCT
ejpam-803	453	33	tests	test	NOUN
ejpam-803	453	34	,	,	PUNCT
ejpam-803	453	35	and	and	CCONJ
ejpam-803	453	36	the	the	DET
ejpam-803	453	37	frequencies	frequency	NOUN
ejpam-803	453	38	with	with	ADP
ejpam-803	453	39	which	which	PRON
ejpam-803	453	40	they	they	PRON
ejpam-803	453	41	were	be	AUX
ejpam-803	453	42	selected	select	VERB
ejpam-803	453	43	,	,	PUNCT
ejpam-803	453	44	are	be	AUX
ejpam-803	453	45	given	give	VERB
ejpam-803	453	46	in	in	ADP
ejpam-803	453	47	this	this	DET
ejpam-803	453	48	table	table	NOUN
ejpam-803	453	49	.	.	PUNCT
ejpam-803	454	1	the	the	DET
ejpam-803	454	2	second	second	ADJ
ejpam-803	454	3	column	column	NOUN
ejpam-803	454	4	under	under	ADP
ejpam-803	454	5	“	"	PUNCT
ejpam-803	454	6	trans	tran	NOUN
ejpam-803	454	7	”	"	PUNCT
ejpam-803	454	8	indicates	indicate	VERB
ejpam-803	454	9	the	the	DET
ejpam-803	454	10	data	data	NOUN
ejpam-803	454	11	transformation	transformation	NOUN
ejpam-803	454	12	that	that	PRON
ejpam-803	454	13	was	be	AUX
ejpam-803	454	14	performed	perform	VERB
ejpam-803	454	15	to	to	PART
ejpam-803	454	16	induce	induce	VERB
ejpam-803	454	17	stationarity	stationarity	NOUN
ejpam-803	454	18	,	,	PUNCT
ejpam-803	454	19	lv	lv	PROPN
ejpam-803	454	20	means	mean	VERB
ejpam-803	454	21	no	no	DET
ejpam-803	454	22	transformation	transformation	NOUN
ejpam-803	454	23	;	;	PUNCT
ejpam-803	454	24	the	the	DET
ejpam-803	454	25	series	series	NOUN
ejpam-803	454	26	was	be	AUX
ejpam-803	454	27	left	leave	VERB
ejpam-803	454	28	at	at	ADP
ejpam-803	454	29	level	level	NOUN
ejpam-803	454	30	.	.	PUNCT
ejpam-803	455	1	∆lv	∆lv	PROPN
ejpam-803	455	2	means	mean	VERB
ejpam-803	455	3	first	first	ADJ
ejpam-803	455	4	difference	difference	NOUN
ejpam-803	455	5	of	of	ADP
ejpam-803	455	6	the	the	DET
ejpam-803	455	7	level	level	NOUN
ejpam-803	455	8	.	.	PUNCT
ejpam-803	456	1	log	log	NOUN
ejpam-803	456	2	means	mean	VERB
ejpam-803	456	3	the	the	DET
ejpam-803	456	4	natural	natural	ADJ
ejpam-803	456	5	log	log	NOUN
ejpam-803	456	6	function	function	NOUN
ejpam-803	456	7	was	be	AUX
ejpam-803	456	8	applied	apply	VERB
ejpam-803	456	9	to	to	ADP
ejpam-803	456	10	the	the	DET
ejpam-803	456	11	data	datum	NOUN
ejpam-803	456	12	.	.	PUNCT
ejpam-803	457	1	∆	∆	PROPN
ejpam-803	457	2	log	log	NOUN
ejpam-803	457	3	means	mean	VERB
ejpam-803	457	4	the	the	DET
ejpam-803	457	5	series	series	NOUN
ejpam-803	457	6	was	be	AUX
ejpam-803	457	7	first	first	ADV
ejpam-803	457	8	differenced	difference	VERB
ejpam-803	457	9	after	after	SCONJ
ejpam-803	457	10	the	the	DET
ejpam-803	457	11	natural	natural	ADJ
ejpam-803	457	12	log	log	NOUN
ejpam-803	457	13	function	function	NOUN
ejpam-803	457	14	was	be	AUX
ejpam-803	457	15	applied	apply	VERB
ejpam-803	457	16	.	.	PUNCT
ejpam-803	458	1	empty	empty	ADJ
ejpam-803	458	2	entries	entry	NOUN
ejpam-803	458	3	in	in	ADP
ejpam-803	458	4	the	the	DET
ejpam-803	458	5	fourth	fourth	ADJ
ejpam-803	458	6	column	column	NOUN
ejpam-803	458	7	under	under	ADP
ejpam-803	458	8	m	m	PROPN
ejpam-803	458	9	(	(	PUNCT
ejpam-803	458	10	j	j	NOUN
ejpam-803	458	11	)	)	PUNCT
ejpam-803	458	12	indicate	indicate	VERB
ejpam-803	458	13	that	that	SCONJ
ejpam-803	458	14	the	the	DET
ejpam-803	458	15	respective	respective	ADJ
ejpam-803	458	16	variables	variable	NOUN
ejpam-803	458	17	were	be	AUX
ejpam-803	458	18	not	not	PART
ejpam-803	458	19	selected	select	VERB
ejpam-803	458	20	at	at	ADV
ejpam-803	458	21	all	all	ADV
ejpam-803	458	22	by	by	ADP
ejpam-803	458	23	the	the	DET
ejpam-803	458	24	m	m	PROPN
ejpam-803	458	25	(	(	PUNCT
ejpam-803	458	26	j	j	NOUN
ejpam-803	458	27	)	)	PUNCT
ejpam-803	458	28	test	test	NOUN
ejpam-803	458	29	.	.	PUNCT
ejpam-803	459	1	2primary	2primary	NUM
ejpam-803	459	2	entries	entry	NOUN
ejpam-803	459	3	in	in	ADP
ejpam-803	459	4	this	this	DET
ejpam-803	459	5	table	table	NOUN
ejpam-803	459	6	are	be	AUX
ejpam-803	459	7	mean	mean	ADJ
ejpam-803	459	8	square	square	ADJ
ejpam-803	459	9	forecast	forecast	NOUN
ejpam-803	459	10	errors	error	NOUN
ejpam-803	459	11	(	(	PUNCT
ejpam-803	459	12	msfes	msfe	NOUN
ejpam-803	459	13	)	)	PUNCT
ejpam-803	459	14	based	base	VERB
ejpam-803	459	15	upon	upon	SCONJ
ejpam-803	459	16	recurreferences	recurreference	NOUN
ejpam-803	459	17	501	501	NUM
ejpam-803	459	18	sively	sively	ADV
ejpam-803	459	19	constructed	construct	VERB
ejpam-803	459	20	ex	ex	PRON
ejpam-803	459	21	ante	ante	NOUN
ejpam-803	459	22	predictions	prediction	NOUN
ejpam-803	459	23	for	for	ADP
ejpam-803	459	24	the	the	DET
ejpam-803	459	25	period	period	NOUN
ejpam-803	459	26	1960:01	1960:01	NUM
ejpam-803	459	27	-	-	SYM
ejpam-803	459	28	2003:12	2003:12	NUM
ejpam-803	459	29	,	,	PUNCT
ejpam-803	459	30	using	use	VERB
ejpam-803	459	31	models	model	NOUN
ejpam-803	459	32	1	1	NUM
ejpam-803	459	33	-	-	SYM
ejpam-803	459	34	15	15	NUM
ejpam-803	459	35	(	(	PUNCT
ejpam-803	459	36	see	see	VERB
ejpam-803	459	37	table	table	NOUN
ejpam-803	459	38	1	1	NUM
ejpam-803	459	39	for	for	ADP
ejpam-803	459	40	an	an	DET
ejpam-803	459	41	explanation	explanation	NOUN
ejpam-803	459	42	of	of	ADP
ejpam-803	459	43	the	the	DET
ejpam-803	459	44	different	different	ADJ
ejpam-803	459	45	models	model	NOUN
ejpam-803	459	46	)	)	PUNCT
ejpam-803	459	47	.	.	PUNCT
ejpam-803	460	1	bracketed	bracketed	ADJ
ejpam-803	460	2	entries	entry	NOUN
ejpam-803	460	3	are	be	AUX
ejpam-803	460	4	msfe	msfe	NOUN
ejpam-803	460	5	type	type	NOUN
ejpam-803	460	6	diebold	diebold	VERB
ejpam-803	460	7	and	and	CCONJ
ejpam-803	460	8	mariano	mariano	PROPN
ejpam-803	460	9	(	(	PUNCT
ejpam-803	460	10	dm	dm	NOUN
ejpam-803	460	11	:	:	PUNCT
ejpam-803	460	12	1995	1995	NUM
ejpam-803	460	13	)	)	PUNCT
ejpam-803	460	14	predictive	predictive	ADJ
ejpam-803	460	15	accuracy	accuracy	NOUN
ejpam-803	460	16	test	test	NOUN
ejpam-803	460	17	statistics	statistic	NOUN
ejpam-803	460	18	,	,	PUNCT
ejpam-803	460	19	where	where	SCONJ
ejpam-803	460	20	model	model	NOUN
ejpam-803	460	21	1	1	NUM
ejpam-803	460	22	is	be	AUX
ejpam-803	460	23	compared	compare	VERB
ejpam-803	460	24	with	with	ADP
ejpam-803	460	25	each	each	PRON
ejpam-803	460	26	of	of	ADP
ejpam-803	460	27	the	the	DET
ejpam-803	460	28	other	other	ADJ
ejpam-803	460	29	models	model	NOUN
ejpam-803	460	30	)	)	PUNCT
ejpam-803	460	31	.	.	PUNCT
ejpam-803	461	1	entries	entry	NOUN
ejpam-803	461	2	in	in	ADP
ejpam-803	461	3	bold	bold	ADJ
ejpam-803	461	4	indicate	indicate	VERB
ejpam-803	461	5	instances	instance	NOUN
ejpam-803	461	6	where	where	SCONJ
ejpam-803	461	7	the	the	DET
ejpam-803	461	8	alternative	alternative	ADJ
ejpam-803	461	9	model	model	NOUN
ejpam-803	461	10	(	(	PUNCT
ejpam-803	461	11	i.e.	i.e.	X
ejpam-803	461	12	each	each	PRON
ejpam-803	461	13	of	of	ADP
ejpam-803	461	14	models	model	NOUN
ejpam-803	461	15	2	2	NUM
ejpam-803	461	16	-	-	SYM
ejpam-803	461	17	15	15	NUM
ejpam-803	461	18	)	)	PUNCT
ejpam-803	461	19	outperforms	outperform	VERB
ejpam-803	461	20	the	the	DET
ejpam-803	461	21	factor	factor	NOUN
ejpam-803	461	22	model	model	NOUN
ejpam-803	461	23	(	(	PUNCT
ejpam-803	461	24	i.e.	i.e.	X
ejpam-803	461	25	model	model	NOUN
ejpam-803	461	26	1	1	NUM
ejpam-803	461	27	)	)	PUNCT
ejpam-803	461	28	,	,	PUNCT
ejpam-803	461	29	as	as	SCONJ
ejpam-803	461	30	indicated	indicate	VERB
ejpam-803	461	31	by	by	ADP
ejpam-803	461	32	both	both	CCONJ
ejpam-803	461	33	a	a	DET
ejpam-803	461	34	lower	low	ADJ
ejpam-803	461	35	msfe	msfe	NOUN
ejpam-803	461	36	and	and	CCONJ
ejpam-803	461	37	a	a	DET
ejpam-803	461	38	positive	positive	ADJ
ejpam-803	461	39	dm	dm	NOUN
ejpam-803	461	40	test	test	NOUN
ejpam-803	461	41	statistic	statistic	NOUN
ejpam-803	461	42	.	.	PUNCT
ejpam-803	462	1	boxed	box	VERB
ejpam-803	462	2	msfe	msfe	PROPN
ejpam-803	462	3	entries	entry	NOUN
ejpam-803	462	4	represent	represent	VERB
ejpam-803	462	5	the	the	DET
ejpam-803	462	6	lowest	low	ADJ
ejpam-803	462	7	msfe	msfe	NOUN
ejpam-803	462	8	value	value	NOUN
ejpam-803	462	9	among	among	ADP
ejpam-803	462	10	all	all	DET
ejpam-803	462	11	models	model	NOUN
ejpam-803	462	12	,	,	PUNCT
ejpam-803	462	13	for	for	ADP
ejpam-803	462	14	a	a	DET
ejpam-803	462	15	particular	particular	ADJ
ejpam-803	462	16	forecast	forecast	NOUN
ejpam-803	462	17	horizon	horizon	NOUN
ejpam-803	462	18	,	,	PUNCT
ejpam-803	462	19	h.	h.	PROPN
ejpam-803	462	20	dm	dm	AUX
ejpam-803	462	21	statistic	statistic	ADJ
ejpam-803	462	22	entries	entry	NOUN
ejpam-803	462	23	with	with	ADP
ejpam-803	462	24	a	a	DET
ejpam-803	462	25	∗	∗	NOUN
ejpam-803	462	26	sign	sign	NOUN
ejpam-803	462	27	indicate	indicate	VERB
ejpam-803	462	28	instances	instance	NOUN
ejpam-803	462	29	where	where	SCONJ
ejpam-803	462	30	the	the	DET
ejpam-803	462	31	respective	respective	ADJ
ejpam-803	462	32	alternative	alternative	ADJ
ejpam-803	462	33	model	model	NOUN
ejpam-803	462	34	significantly	significantly	ADV
ejpam-803	462	35	outperforms	outperform	VERB
ejpam-803	462	36	the	the	DET
ejpam-803	462	37	factor	factor	NOUN
ejpam-803	462	38	model	model	NOUN
ejpam-803	462	39	at	at	ADP
ejpam-803	462	40	a	a	DET
ejpam-803	462	41	10	10	NUM
ejpam-803	462	42	%	%	NOUN
ejpam-803	462	43	significance	significance	NOUN
ejpam-803	462	44	level	level	NOUN
ejpam-803	462	45	,	,	PUNCT
ejpam-803	462	46	whereas	whereas	SCONJ
ejpam-803	462	47	for	for	ADP
ejpam-803	462	48	entries	entry	NOUN
ejpam-803	462	49	with	with	ADP
ejpam-803	462	50	a	a	DET
ejpam-803	462	51	†	†	PROPN
ejpam-803	462	52	sign	sign	NOUN
ejpam-803	462	53	,	,	PUNCT
ejpam-803	462	54	the	the	DET
ejpam-803	462	55	factor	factor	NOUN
ejpam-803	462	56	model	model	NOUN
ejpam-803	462	57	significantly	significantly	ADV
ejpam-803	462	58	outperforms	outperform	VERB
ejpam-803	462	59	the	the	DET
ejpam-803	462	60	alternative	alternative	ADJ
ejpam-803	462	61	model	model	NOUN
ejpam-803	462	62	at	at	ADP
ejpam-803	462	63	a	a	DET
ejpam-803	462	64	10	10	NUM
ejpam-803	462	65	%	%	NOUN
ejpam-803	462	66	significance	significance	NOUN
ejpam-803	462	67	level	level	NOUN
ejpam-803	462	68	,	,	PUNCT
ejpam-803	462	69	under	under	ADP
ejpam-803	462	70	the	the	DET
ejpam-803	462	71	assumption	assumption	NOUN
ejpam-803	462	72	that	that	SCONJ
ejpam-803	462	73	the	the	DET
ejpam-803	462	74	dm	dm	PROPN
ejpam-803	462	75	test	test	NOUN
ejpam-803	462	76	statistic	statistic	NOUN
ejpam-803	462	77	has	have	AUX
ejpam-803	462	78	a	a	DET
ejpam-803	462	79	standard	standard	ADJ
ejpam-803	462	80	normal	normal	ADJ
ejpam-803	462	81	limiting	limit	VERB
ejpam-803	462	82	distribution	distribution	NOUN
ejpam-803	462	83	(	(	PUNCT
ejpam-803	462	84	see	see	VERB
ejpam-803	462	85	above	above	ADV
ejpam-803	462	86	for	for	ADP
ejpam-803	462	87	further	further	ADJ
ejpam-803	462	88	discussion	discussion	NOUN
ejpam-803	462	89	)	)	PUNCT
ejpam-803	462	90	.	.	PUNCT
ejpam-803	463	1	3see	3see	NUM
ejpam-803	463	2	notes	note	NOUN
ejpam-803	463	3	to	to	ADP
ejpam-803	463	4	table	table	NOUN
ejpam-803	463	5	2	2	NUM
ejpam-803	463	6	.	.	PUNCT