id	sid	tid	token	lemma	pos
fbem-26814	1	1	frontiers	frontier	NOUN
fbem-26814	1	2	in	in	ADP
fbem-26814	1	3	business	business	NOUN
fbem-26814	1	4	,	,	PUNCT
fbem-26814	1	5	economics	economic	NOUN
fbem-26814	1	6	and	and	CCONJ
fbem-26814	1	7	management	management	NOUN
fbem-26814	1	8	issn	issn	PROPN
fbem-26814	1	9	:	:	PUNCT
fbem-26814	1	10	2766	2766	NUM
fbem-26814	1	11	-	-	PUNCT
fbem-26814	1	12	824x	824x	NUM
fbem-26814	1	13	|	|	ADJ
fbem-26814	1	14	vol	vol	NOUN
fbem-26814	1	15	.	.	PROPN
fbem-26814	1	16	17	17	NUM
fbem-26814	1	17	,	,	PUNCT
fbem-26814	1	18	no	no	INTJ
fbem-26814	1	19	.	.	NOUN
fbem-26814	1	20	1	1	NUM
fbem-26814	1	21	,	,	PUNCT
fbem-26814	1	22	2024	2024	NUM
fbem-26814	1	23	96	96	NUM
fbem-26814	1	24	research	research	NOUN
fbem-26814	1	25	on	on	ADP
fbem-26814	1	26	the	the	DET
fbem-26814	1	27	dynamic	dynamic	ADJ
fbem-26814	1	28	relationship	relationship	NOUN
fbem-26814	1	29	between	between	ADP
fbem-26814	1	30	asset	asset	NOUN
fbem-26814	1	31	price	price	NOUN
fbem-26814	1	32	fluctuation	fluctuation	NOUN
fbem-26814	1	33	and	and	CCONJ
fbem-26814	1	34	foreign	foreign	ADJ
fbem-26814	1	35	exchange	exchange	NOUN
fbem-26814	1	36	market	market	NOUN
fbem-26814	1	37	kexin	kexin	PROPN
fbem-26814	1	38	zhang	zhang	PROPN
fbem-26814	1	39	college	college	PROPN
fbem-26814	1	40	of	of	ADP
fbem-26814	1	41	business	business	NOUN
fbem-26814	1	42	and	and	CCONJ
fbem-26814	1	43	economics	economic	NOUN
fbem-26814	1	44	,	,	PUNCT
fbem-26814	1	45	australian	australian	ADJ
fbem-26814	1	46	national	national	PROPN
fbem-26814	1	47	university	university	PROPN
fbem-26814	1	48	,	,	PUNCT
fbem-26814	1	49	acton	acton	PROPN
fbem-26814	1	50	,	,	PUNCT
fbem-26814	1	51	act	act	PROPN
fbem-26814	1	52	,	,	PUNCT
fbem-26814	1	53	2601	2601	NUM
fbem-26814	1	54	,	,	PUNCT
fbem-26814	1	55	australia	australia	PROPN
fbem-26814	1	56	abstract	abstract	NOUN
fbem-26814	1	57	:	:	PUNCT
fbem-26814	1	58	through	through	ADP
fbem-26814	1	59	theoretical	theoretical	ADJ
fbem-26814	1	60	discussion	discussion	NOUN
fbem-26814	1	61	and	and	CCONJ
fbem-26814	1	62	empirical	empirical	ADJ
fbem-26814	1	63	investigation	investigation	NOUN
fbem-26814	1	64	,	,	PUNCT
fbem-26814	1	65	this	this	DET
fbem-26814	1	66	study	study	NOUN
fbem-26814	1	67	aims	aim	VERB
fbem-26814	1	68	to	to	PART
fbem-26814	1	69	elucidate	elucidate	VERB
fbem-26814	1	70	the	the	DET
fbem-26814	1	71	dynamic	dynamic	ADJ
fbem-26814	1	72	interconnection	interconnection	NOUN
fbem-26814	1	73	between	between	ADP
fbem-26814	1	74	asset	asset	NOUN
fbem-26814	1	75	price	price	NOUN
fbem-26814	1	76	shocks	shock	NOUN
fbem-26814	1	77	and	and	CCONJ
fbem-26814	1	78	foreign	foreign	ADJ
fbem-26814	1	79	exchange	exchange	NOUN
fbem-26814	1	80	,	,	PUNCT
fbem-26814	1	81	and	and	CCONJ
fbem-26814	1	82	analyze	analyze	VERB
fbem-26814	1	83	the	the	DET
fbem-26814	1	84	nature	nature	NOUN
fbem-26814	1	85	of	of	ADP
fbem-26814	1	86	their	their	PRON
fbem-26814	1	87	interaction	interaction	NOUN
fbem-26814	1	88	effects	effect	NOUN
fbem-26814	1	89	and	and	CCONJ
fbem-26814	1	90	their	their	PRON
fbem-26814	1	91	substantive	substantive	ADJ
fbem-26814	1	92	economic	economic	ADJ
fbem-26814	1	93	consequences	consequence	NOUN
fbem-26814	1	94	.	.	PUNCT
fbem-26814	2	1	based	base	VERB
fbem-26814	2	2	on	on	ADP
fbem-26814	2	3	the	the	DET
fbem-26814	2	4	financial	financial	ADJ
fbem-26814	2	5	data	datum	NOUN
fbem-26814	2	6	of	of	ADP
fbem-26814	2	7	recent	recent	ADJ
fbem-26814	2	8	years	year	NOUN
fbem-26814	2	9	,	,	PUNCT
fbem-26814	2	10	with	with	ADP
fbem-26814	2	11	the	the	DET
fbem-26814	2	12	help	help	NOUN
fbem-26814	2	13	of	of	ADP
fbem-26814	2	14	time	time	NOUN
fbem-26814	2	15	series	series	PROPN
fbem-26814	2	16	analysis	analysis	NOUN
fbem-26814	2	17	method	method	NOUN
fbem-26814	2	18	and	and	CCONJ
fbem-26814	2	19	vector	vector	NOUN
fbem-26814	2	20	autoregressive	autoregressive	ADJ
fbem-26814	2	21	model	model	NOUN
fbem-26814	2	22	(	(	PUNCT
fbem-26814	2	23	var	var	NOUN
fbem-26814	2	24	)	)	PUNCT
fbem-26814	2	25	tools	tool	NOUN
fbem-26814	2	26	,	,	PUNCT
fbem-26814	2	27	this	this	DET
fbem-26814	2	28	paper	paper	NOUN
fbem-26814	2	29	confirms	confirm	VERB
fbem-26814	2	30	the	the	DET
fbem-26814	2	31	significant	significant	ADJ
fbem-26814	2	32	disturbance	disturbance	NOUN
fbem-26814	2	33	of	of	ADP
fbem-26814	2	34	asset	asset	NOUN
fbem-26814	2	35	value	value	NOUN
fbem-26814	2	36	changes	change	NOUN
fbem-26814	2	37	on	on	ADP
fbem-26814	2	38	foreign	foreign	ADJ
fbem-26814	2	39	exchange	exchange	NOUN
fbem-26814	2	40	rates	rate	NOUN
fbem-26814	2	41	and	and	CCONJ
fbem-26814	2	42	the	the	DET
fbem-26814	2	43	lasting	last	VERB
fbem-26814	2	44	characteristics	characteristic	NOUN
fbem-26814	2	45	of	of	ADP
fbem-26814	2	46	this	this	DET
fbem-26814	2	47	effect	effect	NOUN
fbem-26814	2	48	.	.	PUNCT
fbem-26814	3	1	it	it	PRON
fbem-26814	3	2	is	be	AUX
fbem-26814	3	3	found	find	VERB
fbem-26814	3	4	that	that	SCONJ
fbem-26814	3	5	asset	asset	NOUN
fbem-26814	3	6	volatility	volatility	NOUN
fbem-26814	3	7	has	have	VERB
fbem-26814	3	8	a	a	DET
fbem-26814	3	9	decisive	decisive	ADJ
fbem-26814	3	10	short	short	ADJ
fbem-26814	3	11	-	-	PUNCT
fbem-26814	3	12	term	term	NOUN
fbem-26814	3	13	impact	impact	NOUN
fbem-26814	3	14	on	on	ADP
fbem-26814	3	15	the	the	DET
fbem-26814	3	16	currency	currency	NOUN
fbem-26814	3	17	exchange	exchange	NOUN
fbem-26814	3	18	market	market	NOUN
fbem-26814	3	19	,	,	PUNCT
fbem-26814	3	20	and	and	CCONJ
fbem-26814	3	21	this	this	DET
fbem-26814	3	22	correlation	correlation	NOUN
fbem-26814	3	23	shows	show	VERB
fbem-26814	3	24	the	the	DET
fbem-26814	3	25	characteristics	characteristic	NOUN
fbem-26814	3	26	of	of	ADP
fbem-26814	3	27	travel	travel	NOUN
fbem-26814	3	28	alienation	alienation	NOUN
fbem-26814	3	29	under	under	ADP
fbem-26814	3	30	the	the	DET
fbem-26814	3	31	condition	condition	NOUN
fbem-26814	3	32	of	of	ADP
fbem-26814	3	33	variable	variable	ADJ
fbem-26814	3	34	elements	element	NOUN
fbem-26814	3	35	.	.	PUNCT
fbem-26814	4	1	conversely	conversely	ADV
fbem-26814	4	2	,	,	PUNCT
fbem-26814	4	3	the	the	DET
fbem-26814	4	4	evolution	evolution	NOUN
fbem-26814	4	5	of	of	ADP
fbem-26814	4	6	the	the	DET
fbem-26814	4	7	foreign	foreign	ADJ
fbem-26814	4	8	exchange	exchange	NOUN
fbem-26814	4	9	environment	environment	NOUN
fbem-26814	4	10	also	also	ADV
fbem-26814	4	11	affects	affect	VERB
fbem-26814	4	12	asset	asset	NOUN
fbem-26814	4	13	pricing	pricing	NOUN
fbem-26814	4	14	,	,	PUNCT
fbem-26814	4	15	building	build	VERB
fbem-26814	4	16	a	a	DET
fbem-26814	4	17	two	two	NUM
fbem-26814	4	18	-	-	PUNCT
fbem-26814	4	19	way	way	NOUN
fbem-26814	4	20	feedback	feedback	NOUN
fbem-26814	4	21	chain	chain	NOUN
fbem-26814	4	22	.	.	PUNCT
fbem-26814	5	1	this	this	DET
fbem-26814	5	2	study	study	NOUN
fbem-26814	5	3	not	not	PART
fbem-26814	5	4	only	only	ADV
fbem-26814	5	5	deepens	deepen	VERB
fbem-26814	5	6	the	the	DET
fbem-26814	5	7	existing	exist	VERB
fbem-26814	5	8	theoretical	theoretical	ADJ
fbem-26814	5	9	framework	framework	NOUN
fbem-26814	5	10	,	,	PUNCT
fbem-26814	5	11	but	but	CCONJ
fbem-26814	5	12	also	also	ADV
fbem-26814	5	13	provides	provide	VERB
fbem-26814	5	14	strategic	strategic	ADJ
fbem-26814	5	15	insights	insight	NOUN
fbem-26814	5	16	for	for	SCONJ
fbem-26814	5	17	regulators	regulator	NOUN
fbem-26814	5	18	to	to	PART
fbem-26814	5	19	cope	cope	VERB
fbem-26814	5	20	w	w	PROPN
fbem-26814	5	21	ith	ith	NOUN
fbem-26814	5	22	the	the	DET
fbem-26814	5	23	shock	shock	NOUN
fbem-26814	5	24	of	of	ADP
fbem-26814	5	25	property	property	NOUN
fbem-26814	5	26	values	value	NOUN
fbem-26814	5	27	and	and	CCONJ
fbem-26814	5	28	ensure	ensure	VERB
fbem-26814	5	29	the	the	DET
fbem-26814	5	30	smooth	smooth	ADJ
fbem-26814	5	31	operation	operation	NOUN
fbem-26814	5	32	of	of	ADP
fbem-26814	5	33	foreign	foreign	ADJ
fbem-26814	5	34	exchange	exchange	NOUN
fbem-26814	5	35	.	.	PUNCT
fbem-26814	6	1	at	at	ADP
fbem-26814	6	2	the	the	DET
fbem-26814	6	3	same	same	ADJ
fbem-26814	6	4	time	time	NOUN
fbem-26814	6	5	,	,	PUNCT
fbem-26814	6	6	this	this	DET
fbem-26814	6	7	paper	paper	NOUN
fbem-26814	6	8	also	also	ADV
fbem-26814	6	9	carefully	carefully	ADV
fbem-26814	6	10	discriminates	discriminate	VERB
fbem-26814	6	11	its	its	PRON
fbem-26814	6	12	own	own	ADJ
fbem-26814	6	13	limitations	limitation	NOUN
fbem-26814	6	14	and	and	CCONJ
fbem-26814	6	15	points	point	VERB
fbem-26814	6	16	out	out	ADP
fbem-26814	6	17	the	the	DET
fbem-26814	6	18	possible	possible	ADJ
fbem-26814	6	19	ways	way	NOUN
fbem-26814	6	20	of	of	ADP
fbem-26814	6	21	follow	follow	VERB
fbem-26814	6	22	-	-	PUNCT
fbem-26814	6	23	up	up	ADP
fbem-26814	6	24	research	research	NOUN
fbem-26814	6	25	.	.	PUNCT
fbem-26814	7	1	keywords	keyword	NOUN
fbem-26814	7	2	:	:	PUNCT
fbem-26814	7	3	asset	asset	NOUN
fbem-26814	7	4	price	price	NOUN
fbem-26814	7	5	volatility	volatility	NOUN
fbem-26814	7	6	,	,	PUNCT
fbem-26814	7	7	foreign	foreign	ADJ
fbem-26814	7	8	exchange	exchange	NOUN
fbem-26814	7	9	market	market	NOUN
fbem-26814	7	10	,	,	PUNCT
fbem-26814	7	11	dynamic	dynamic	ADJ
fbem-26814	7	12	relationship	relationship	NOUN
fbem-26814	7	13	,	,	PUNCT
fbem-26814	7	14	market	market	NOUN
fbem-26814	7	15	linkage	linkage	NOUN
fbem-26814	7	16	effect	effect	NOUN
fbem-26814	7	17	,	,	PUNCT
fbem-26814	7	18	policy	policy	NOUN
fbem-26814	7	19	advice	advice	NOUN
fbem-26814	7	20	.	.	PUNCT
fbem-26814	8	1	1	1	X
fbem-26814	8	2	.	.	X
fbem-26814	8	3	introduction	introduction	NOUN
fbem-26814	8	4	as	as	SCONJ
fbem-26814	8	5	global	global	ADJ
fbem-26814	8	6	economic	economic	ADJ
fbem-26814	8	7	integration	integration	NOUN
fbem-26814	8	8	accelerates	accelerate	VERB
fbem-26814	8	9	,	,	PUNCT
fbem-26814	8	10	financial	financial	ADJ
fbem-26814	8	11	markets	market	NOUN
fbem-26814	8	12	worldwide	worldwide	ADV
fbem-26814	8	13	become	become	VERB
fbem-26814	8	14	more	more	ADV
fbem-26814	8	15	interconnected	interconnected	ADJ
fbem-26814	8	16	.	.	PUNCT
fbem-26814	9	1	asset	asset	NOUN
fbem-26814	9	2	price	price	NOUN
fbem-26814	9	3	volatility	volatility	NOUN
fbem-26814	9	4	,	,	PUNCT
fbem-26814	9	5	involving	involve	VERB
fbem-26814	9	6	stocks	stock	NOUN
fbem-26814	9	7	,	,	PUNCT
fbem-26814	9	8	bonds	bond	NOUN
fbem-26814	9	9	,	,	PUNCT
fbem-26814	9	10	and	and	CCONJ
fbem-26814	9	11	commodities	commodity	NOUN
fbem-26814	9	12	,	,	PUNCT
fbem-26814	9	13	gains	gain	VERB
fbem-26814	9	14	global	global	ADJ
fbem-26814	9	15	attention	attention	NOUN
fbem-26814	9	16	.	.	PUNCT
fbem-26814	10	1	these	these	DET
fbem-26814	10	2	fluctuations	fluctuation	NOUN
fbem-26814	10	3	reflect	reflect	VERB
fbem-26814	10	4	investors	investor	NOUN
fbem-26814	10	5	'	'	PART
fbem-26814	10	6	economic	economic	ADJ
fbem-26814	10	7	expectations	expectation	NOUN
fbem-26814	10	8	and	and	CCONJ
fbem-26814	10	9	may	may	AUX
fbem-26814	10	10	pose	pose	VERB
fbem-26814	10	11	systemic	systemic	ADJ
fbem-26814	10	12	risks	risk	NOUN
fbem-26814	10	13	.	.	PUNCT
fbem-26814	11	1	the	the	DET
fbem-26814	11	2	foreign	foreign	ADJ
fbem-26814	11	3	exchange	exchange	NOUN
fbem-26814	11	4	market	market	NOUN
fbem-26814	11	5	,	,	PUNCT
fbem-26814	11	6	crucial	crucial	ADJ
fbem-26814	11	7	for	for	ADP
fbem-26814	11	8	international	international	ADJ
fbem-26814	11	9	capital	capital	NOUN
fbem-26814	11	10	flows	flow	NOUN
fbem-26814	11	11	,	,	PUNCT
fbem-26814	11	12	directly	directly	ADV
fbem-26814	11	13	impacts	impact	VERB
fbem-26814	11	14	trade	trade	NOUN
fbem-26814	11	15	and	and	CCONJ
fbem-26814	11	16	investment	investment	NOUN
fbem-26814	11	17	.	.	PUNCT
fbem-26814	12	1	exploring	explore	VERB
fbem-26814	12	2	the	the	DET
fbem-26814	12	3	link	link	NOUN
fbem-26814	12	4	between	between	ADP
fbem-26814	12	5	asset	asset	NOUN
fbem-26814	12	6	price	price	NOUN
fbem-26814	12	7	volatility	volatility	NOUN
fbem-26814	12	8	and	and	CCONJ
fbem-26814	12	9	the	the	DET
fbem-26814	12	10	foreign	foreign	ADJ
fbem-26814	12	11	exchange	exchange	NOUN
fbem-26814	12	12	market	market	NOUN
fbem-26814	12	13	is	be	AUX
fbem-26814	12	14	vital	vital	ADJ
fbem-26814	12	15	for	for	ADP
fbem-26814	12	16	understanding	understand	VERB
fbem-26814	12	17	the	the	DET
fbem-26814	12	18	global	global	ADJ
fbem-26814	12	19	economy	economy	NOUN
fbem-26814	12	20	.	.	PUNCT
fbem-26814	13	1	knowing	know	VERB
fbem-26814	13	2	how	how	SCONJ
fbem-26814	13	3	they	they	PRON
fbem-26814	13	4	mutually	mutually	ADV
fbem-26814	13	5	affect	affect	VERB
fbem-26814	13	6	each	each	DET
fbem-26814	13	7	other	other	ADJ
fbem-26814	13	8	is	be	AUX
fbem-26814	13	9	crucial	crucial	ADJ
fbem-26814	13	10	for	for	ADP
fbem-26814	13	11	investors	investor	NOUN
fbem-26814	13	12	and	and	CCONJ
fbem-26814	13	13	policymakers	policymaker	NOUN
fbem-26814	13	14	.	.	PUNCT
fbem-26814	14	1	studies	study	NOUN
fbem-26814	14	2	show	show	VERB
fbem-26814	14	3	complex	complex	ADJ
fbem-26814	14	4	interactions	interaction	NOUN
fbem-26814	14	5	,	,	PUNCT
fbem-26814	14	6	with	with	ADP
fbem-26814	14	7	some	some	DET
fbem-26814	14	8	scholars	scholar	NOUN
fbem-26814	14	9	discussing	discuss	VERB
fbem-26814	14	10	theoretical	theoretical	ADJ
fbem-26814	14	11	impacts	impact	NOUN
fbem-26814	14	12	and	and	CCONJ
fbem-26814	14	13	others	other	NOUN
fbem-26814	14	14	empirically	empirically	ADV
fbem-26814	14	15	testing	test	VERB
fbem-26814	14	16	this	this	DET
fbem-26814	14	17	relationship	relationship	NOUN
fbem-26814	14	18	[	[	X
fbem-26814	14	19	1	1	NUM
fbem-26814	14	20	-	-	SYM
fbem-26814	14	21	2	2	NUM
fbem-26814	14	22	]	]	PUNCT
fbem-26814	14	23	.	.	PUNCT
fbem-26814	15	1	however	however	ADV
fbem-26814	15	2	,	,	PUNCT
fbem-26814	15	3	most	most	ADJ
fbem-26814	15	4	studies	study	NOUN
fbem-26814	15	5	focus	focus	VERB
fbem-26814	15	6	on	on	ADP
fbem-26814	15	7	specific	specific	ADJ
fbem-26814	15	8	periods	period	NOUN
fbem-26814	15	9	or	or	CCONJ
fbem-26814	15	10	countries	country	NOUN
fbem-26814	15	11	,	,	PUNCT
fbem-26814	15	12	lacking	lack	VERB
fbem-26814	15	13	a	a	DET
fbem-26814	15	14	global	global	ADJ
fbem-26814	15	15	perspective	perspective	NOUN
fbem-26814	15	16	,	,	PUNCT
fbem-26814	15	17	and	and	CCONJ
fbem-26814	15	18	results	result	NOUN
fbem-26814	15	19	are	be	AUX
fbem-26814	15	20	limited	limit	VERB
fbem-26814	15	21	by	by	ADP
fbem-26814	15	22	data	datum	NOUN
fbem-26814	15	23	constraints	constraint	NOUN
fbem-26814	15	24	.	.	PUNCT
fbem-26814	16	1	this	this	DET
fbem-26814	16	2	research	research	NOUN
fbem-26814	16	3	can	can	AUX
fbem-26814	16	4	use	use	VERB
fbem-26814	16	5	comprehensive	comprehensive	ADJ
fbem-26814	16	6	theoretical	theoretical	ADJ
fbem-26814	16	7	analysis	analysis	NOUN
fbem-26814	16	8	and	and	CCONJ
fbem-26814	16	9	empirical	empirical	ADJ
fbem-26814	16	10	investigation	investigation	NOUN
fbem-26814	16	11	methods	method	NOUN
fbem-26814	16	12	to	to	PART
fbem-26814	16	13	reveal	reveal	VERB
fbem-26814	16	14	the	the	DET
fbem-26814	16	15	interaction	interaction	NOUN
fbem-26814	16	16	effect	effect	NOUN
fbem-26814	16	17	between	between	ADP
fbem-26814	16	18	asset	asset	NOUN
fbem-26814	16	19	value	value	NOUN
fbem-26814	16	20	shocks	shock	NOUN
fbem-26814	16	21	and	and	CCONJ
fbem-26814	16	22	foreign	foreign	ADJ
fbem-26814	16	23	exchange	exchange	NOUN
fbem-26814	16	24	markets	market	NOUN
fbem-26814	16	25	in	in	ADP
fbem-26814	16	26	a	a	DET
fbem-26814	16	27	globalized	globalized	ADJ
fbem-26814	16	28	environment	environment	NOUN
fbem-26814	16	29	.	.	PUNCT
fbem-26814	17	1	the	the	DET
fbem-26814	17	2	first	first	ADJ
fbem-26814	17	3	task	task	NOUN
fbem-26814	17	4	focused	focus	VERB
fbem-26814	17	5	on	on	ADP
fbem-26814	17	6	elucidating	elucidate	VERB
fbem-26814	17	7	the	the	DET
fbem-26814	17	8	mechanisms	mechanism	NOUN
fbem-26814	17	9	by	by	ADP
fbem-26814	17	10	which	which	PRON
fbem-26814	17	11	asset	asset	NOUN
fbem-26814	17	12	price	price	NOUN
fbem-26814	17	13	movements	movement	NOUN
fbem-26814	17	14	affect	affect	VERB
fbem-26814	17	15	exchange	exchange	NOUN
fbem-26814	17	16	rate	rate	NOUN
fbem-26814	17	17	markets	market	NOUN
fbem-26814	17	18	.	.	PUNCT
fbem-26814	18	1	second	second	ADJ
fbem-26814	18	2	,	,	PUNCT
fbem-26814	18	3	it	it	PRON
fbem-26814	18	4	provides	provide	VERB
fbem-26814	18	5	a	a	DET
fbem-26814	18	6	deeper	deep	ADJ
fbem-26814	18	7	understanding	understanding	NOUN
fbem-26814	18	8	of	of	ADP
fbem-26814	18	9	how	how	SCONJ
fbem-26814	18	10	fx	fx	NOUN
fbem-26814	18	11	market	market	NOUN
fbem-26814	18	12	dynamics	dynamic	NOUN
fbem-26814	18	13	feed	feed	VERB
fbem-26814	18	14	back	back	ADV
fbem-26814	18	15	into	into	ADP
fbem-26814	18	16	the	the	DET
fbem-26814	18	17	asset	asset	NOUN
fbem-26814	18	18	price	price	NOUN
fbem-26814	18	19	system	system	NOUN
fbem-26814	18	20	.	.	PUNCT
fbem-26814	19	1	based	base	VERB
fbem-26814	19	2	on	on	ADP
fbem-26814	19	3	these	these	DET
fbem-26814	19	4	insights	insight	NOUN
fbem-26814	19	5	,	,	PUNCT
fbem-26814	19	6	we	we	PRON
fbem-26814	19	7	will	will	AUX
fbem-26814	19	8	formulate	formulate	VERB
fbem-26814	19	9	targeted	targeted	ADJ
fbem-26814	19	10	policy	policy	NOUN
fbem-26814	19	11	guidance	guidance	NOUN
fbem-26814	19	12	.	.	PUNCT
fbem-26814	20	1	2	2	X
fbem-26814	20	2	.	.	X
fbem-26814	20	3	theoretical	theoretical	ADJ
fbem-26814	20	4	framework	framework	NOUN
fbem-26814	20	5	financial	financial	ADJ
fbem-26814	20	6	markets	market	NOUN
fbem-26814	20	7	interact	interact	VERB
fbem-26814	20	8	,	,	PUNCT
fbem-26814	20	9	with	with	ADP
fbem-26814	20	10	asset	asset	NOUN
fbem-26814	20	11	price	price	NOUN
fbem-26814	20	12	fluctuations	fluctuation	NOUN
fbem-26814	20	13	and	and	CCONJ
fbem-26814	20	14	foreign	foreign	ADJ
fbem-26814	20	15	exchange	exchange	NOUN
fbem-26814	20	16	rates	rate	NOUN
fbem-26814	20	17	showing	show	VERB
fbem-26814	20	18	significant	significant	ADJ
fbem-26814	20	19	correlation	correlation	NOUN
fbem-26814	20	20	[	[	X
fbem-26814	20	21	3	3	NUM
fbem-26814	20	22	]	]	PUNCT
fbem-26814	20	23	.	.	PUNCT
fbem-26814	21	1	securities	security	NOUN
fbem-26814	21	2	market	market	NOUN
fbem-26814	21	3	movements	movement	NOUN
fbem-26814	21	4	reflect	reflect	VERB
fbem-26814	21	5	macroeconomic	macroeconomic	ADJ
fbem-26814	21	6	health	health	NOUN
fbem-26814	21	7	,	,	PUNCT
fbem-26814	21	8	influencing	influence	VERB
fbem-26814	21	9	the	the	DET
fbem-26814	21	10	foreign	foreign	ADJ
fbem-26814	21	11	exchange	exchange	NOUN
fbem-26814	21	12	market	market	NOUN
fbem-26814	21	13	.	.	PUNCT
fbem-26814	22	1	a	a	DET
fbem-26814	22	2	stock	stock	NOUN
fbem-26814	22	3	market	market	NOUN
fbem-26814	22	4	boom	boom	NOUN
fbem-26814	22	5	suggests	suggest	VERB
fbem-26814	22	6	economic	economic	ADJ
fbem-26814	22	7	expansion	expansion	NOUN
fbem-26814	22	8	,	,	PUNCT
fbem-26814	22	9	boosting	boost	VERB
fbem-26814	22	10	the	the	DET
fbem-26814	22	11	domestic	domestic	ADJ
fbem-26814	22	12	currency	currency	NOUN
fbem-26814	22	13	.	.	PUNCT
fbem-26814	23	1	equity	equity	NOUN
fbem-26814	23	2	declines	decline	NOUN
fbem-26814	23	3	may	may	AUX
fbem-26814	23	4	lead	lead	VERB
fbem-26814	23	5	to	to	ADP
fbem-26814	23	6	seeking	seek	VERB
fbem-26814	23	7	external	external	ADJ
fbem-26814	23	8	safehavens	safehaven	NOUN
fbem-26814	23	9	,	,	PUNCT
fbem-26814	23	10	lowering	lower	VERB
fbem-26814	23	11	local	local	ADJ
fbem-26814	23	12	currency	currency	NOUN
fbem-26814	23	13	values	value	NOUN
fbem-26814	23	14	.	.	PUNCT
fbem-26814	24	1	the	the	DET
fbem-26814	24	2	foreign	foreign	ADJ
fbem-26814	24	3	exchange	exchange	NOUN
fbem-26814	24	4	sector	sector	NOUN
fbem-26814	24	5	also	also	ADV
fbem-26814	24	6	impacts	impact	VERB
fbem-26814	24	7	asset	asset	NOUN
fbem-26814	24	8	prices	price	NOUN
fbem-26814	24	9	.	.	PUNCT
fbem-26814	25	1	a	a	DET
fbem-26814	25	2	strong	strong	ADJ
fbem-26814	25	3	currency	currency	NOUN
fbem-26814	25	4	benefits	benefit	VERB
fbem-26814	25	5	domestic	domestic	ADJ
fbem-26814	25	6	consumers	consumer	NOUN
fbem-26814	25	7	by	by	ADP
fbem-26814	25	8	reducing	reduce	VERB
fbem-26814	25	9	imports	import	NOUN
fbem-26814	25	10	'	'	PART
fbem-26814	25	11	cost	cost	NOUN
fbem-26814	25	12	but	but	CCONJ
fbem-26814	25	13	pressures	pressure	NOUN
fbem-26814	25	14	export	export	NOUN
fbem-26814	25	15	-	-	PUNCT
fbem-26814	25	16	oriented	orient	VERB
fbem-26814	25	17	businesses	business	NOUN
fbem-26814	25	18	.	.	PUNCT
fbem-26814	26	1	conversely	conversely	ADV
fbem-26814	26	2	,	,	PUNCT
fbem-26814	26	3	a	a	DET
fbem-26814	26	4	weak	weak	ADJ
fbem-26814	26	5	currency	currency	NOUN
fbem-26814	26	6	aids	aid	NOUN
fbem-26814	26	7	exports	export	NOUN
fbem-26814	26	8	but	but	CCONJ
fbem-26814	26	9	burdens	burden	VERB
fbem-26814	26	10	companies	company	NOUN
fbem-26814	26	11	with	with	ADP
fbem-26814	26	12	higher	high	ADJ
fbem-26814	26	13	import	import	NOUN
fbem-26814	26	14	costs	cost	NOUN
fbem-26814	26	15	.	.	PUNCT
fbem-26814	27	1	2.1	2.1	NUM
fbem-26814	27	2	.	.	PUNCT
fbem-26814	27	3	exchange	exchange	NOUN
fbem-26814	27	4	rate	rate	NOUN
fbem-26814	27	5	determination	determination	NOUN
fbem-26814	27	6	theory	theory	NOUN
fbem-26814	27	7	the	the	DET
fbem-26814	27	8	principle	principle	NOUN
fbem-26814	27	9	of	of	ADP
fbem-26814	27	10	purchasing	purchase	VERB
fbem-26814	27	11	-	-	PUNCT
fbem-26814	27	12	power	power	NOUN
fbem-26814	27	13	parity	parity	NOUN
fbem-26814	27	14	states	state	NOUN
fbem-26814	27	15	that	that	SCONJ
fbem-26814	27	16	a	a	DET
fbem-26814	27	17	healthy	healthy	ADJ
fbem-26814	27	18	exchange	exchange	NOUN
fbem-26814	27	19	rate	rate	NOUN
fbem-26814	27	20	should	should	AUX
fbem-26814	27	21	reflect	reflect	VERB
fbem-26814	27	22	the	the	DET
fbem-26814	27	23	value	value	NOUN
fbem-26814	27	24	of	of	ADP
fbem-26814	27	25	goods	good	NOUN
fbem-26814	27	26	and	and	CCONJ
fbem-26814	27	27	services	service	NOUN
fbem-26814	27	28	exchanged	exchange	VERB
fbem-26814	27	29	for	for	ADP
fbem-26814	27	30	in	in	ADP
fbem-26814	27	31	each	each	DET
fbem-26814	27	32	currency	currency	NOUN
fbem-26814	27	33	.	.	PUNCT
fbem-26814	28	1	according	accord	VERB
fbem-26814	28	2	to	to	ADP
fbem-26814	28	3	this	this	DET
fbem-26814	28	4	theory	theory	NOUN
fbem-26814	28	5	,	,	PUNCT
fbem-26814	28	6	in	in	ADP
fbem-26814	28	7	the	the	DET
fbem-26814	28	8	long	long	ADJ
fbem-26814	28	9	run	run	NOUN
fbem-26814	28	10	,	,	PUNCT
fbem-26814	28	11	exchange	exchange	NOUN
fbem-26814	28	12	rates	rate	NOUN
fbem-26814	28	13	should	should	AUX
fbem-26814	28	14	be	be	AUX
fbem-26814	28	15	calibrated	calibrate	VERB
fbem-26814	28	16	to	to	PART
fbem-26814	28	17	ensure	ensure	VERB
fbem-26814	28	18	that	that	SCONJ
fbem-26814	28	19	price	price	NOUN
fbem-26814	28	20	equivalence	equivalence	NOUN
fbem-26814	28	21	remains	remain	VERB
fbem-26814	28	22	constant	constant	ADJ
fbem-26814	28	23	across	across	ADP
fbem-26814	28	24	countries	country	NOUN
fbem-26814	28	25	.	.	PUNCT
fbem-26814	29	1	in	in	ADP
fbem-26814	29	2	the	the	DET
fbem-26814	29	3	short	short	ADJ
fbem-26814	29	4	run	run	NOUN
fbem-26814	29	5	,	,	PUNCT
fbem-26814	29	6	however	however	ADV
fbem-26814	29	7	,	,	PUNCT
fbem-26814	29	8	the	the	DET
fbem-26814	29	9	real	real	ADJ
fbem-26814	29	10	dynamics	dynamic	NOUN
fbem-26814	29	11	of	of	ADP
fbem-26814	29	12	the	the	DET
fbem-26814	29	13	real	real	ADJ
fbem-26814	29	14	exchange	exchange	NOUN
fbem-26814	29	15	rate	rate	NOUN
fbem-26814	29	16	tend	tend	VERB
fbem-26814	29	17	to	to	PART
fbem-26814	29	18	diverge	diverge	VERB
fbem-26814	29	19	from	from	ADP
fbem-26814	29	20	the	the	DET
fbem-26814	29	21	ppp	ppp	NOUN
fbem-26814	29	22	,	,	PUNCT
fbem-26814	29	23	which	which	PRON
fbem-26814	29	24	can	can	AUX
fbem-26814	29	25	be	be	AUX
fbem-26814	29	26	attributed	attribute	VERB
fbem-26814	29	27	to	to	ADP
fbem-26814	29	28	the	the	DET
fbem-26814	29	29	complex	complex	ADJ
fbem-26814	29	30	effects	effect	NOUN
fbem-26814	29	31	of	of	ADP
fbem-26814	29	32	non	non	ADJ
fbem-26814	29	33	-	-	ADJ
fbem-26814	29	34	tradable	tradable	ADJ
fbem-26814	29	35	transactions	transaction	NOUN
fbem-26814	29	36	and	and	CCONJ
fbem-26814	29	37	market	market	NOUN
fbem-26814	29	38	expectations	expectation	NOUN
fbem-26814	29	39	.	.	PUNCT
fbem-26814	30	1	the	the	DET
fbem-26814	30	2	interest	interest	NOUN
fbem-26814	30	3	rate	rate	NOUN
fbem-26814	30	4	parity	parity	NOUN
fbem-26814	30	5	hypothesis	hypothesis	NOUN
fbem-26814	30	6	states	state	VERB
fbem-26814	30	7	that	that	SCONJ
fbem-26814	30	8	the	the	DET
fbem-26814	30	9	interest	interest	NOUN
fbem-26814	30	10	rate	rate	NOUN
fbem-26814	30	11	differential	differential	NOUN
fbem-26814	30	12	between	between	ADP
fbem-26814	30	13	two	two	NUM
fbem-26814	30	14	currencies	currency	NOUN
fbem-26814	30	15	should	should	AUX
fbem-26814	30	16	match	match	VERB
fbem-26814	30	17	the	the	DET
fbem-26814	30	18	forex	forex	ADJ
fbem-26814	30	19	market	market	NOUN
fbem-26814	30	20	's	's	PART
fbem-26814	30	21	expectations	expectation	NOUN
fbem-26814	30	22	of	of	ADP
fbem-26814	30	23	future	future	ADJ
fbem-26814	30	24	exchange	exchange	NOUN
fbem-26814	30	25	rate	rate	NOUN
fbem-26814	30	26	changes	change	NOUN
fbem-26814	30	27	,	,	PUNCT
fbem-26814	30	28	further	far	ADV
fbem-26814	30	29	eliminating	eliminate	VERB
fbem-26814	30	30	the	the	DET
fbem-26814	30	31	scope	scope	NOUN
fbem-26814	30	32	for	for	ADP
fbem-26814	30	33	cross	cross	ADJ
fbem-26814	30	34	-	-	ADJ
fbem-26814	30	35	border	border	ADJ
fbem-26814	30	36	risk	risk	NOUN
fbem-26814	30	37	-	-	PUNCT
fbem-26814	30	38	free	free	ADJ
fbem-26814	30	39	arbitrage	arbitrage	NOUN
fbem-26814	30	40	.	.	PUNCT
fbem-26814	31	1	this	this	DET
fbem-26814	31	2	theory	theory	NOUN
fbem-26814	31	3	highlights	highlight	VERB
fbem-26814	31	4	the	the	DET
fbem-26814	31	5	correlation	correlation	NOUN
fbem-26814	31	6	between	between	ADP
fbem-26814	31	7	interest	interest	NOUN
fbem-26814	31	8	rate	rate	NOUN
fbem-26814	31	9	differentials	differential	NOUN
fbem-26814	31	10	and	and	CCONJ
fbem-26814	31	11	expected	expect	VERB
fbem-26814	31	12	exchange	exchange	NOUN
fbem-26814	31	13	rate	rate	NOUN
fbem-26814	31	14	movements	movement	NOUN
fbem-26814	31	15	.	.	PUNCT
fbem-26814	32	1	the	the	DET
fbem-26814	32	2	monetarist	monetarist	ADJ
fbem-26814	32	3	perspective	perspective	NOUN
fbem-26814	32	4	focuses	focus	VERB
fbem-26814	32	5	on	on	ADP
fbem-26814	32	6	the	the	DET
fbem-26814	32	7	idea	idea	NOUN
fbem-26814	32	8	of	of	ADP
fbem-26814	32	9	how	how	SCONJ
fbem-26814	32	10	imbalances	imbalance	NOUN
fbem-26814	32	11	between	between	ADP
fbem-26814	32	12	the	the	DET
fbem-26814	32	13	supply	supply	NOUN
fbem-26814	32	14	and	and	CCONJ
fbem-26814	32	15	demand	demand	NOUN
fbem-26814	32	16	of	of	ADP
fbem-26814	32	17	money	money	NOUN
fbem-26814	32	18	shape	shape	NOUN
fbem-26814	32	19	exchange	exchange	NOUN
fbem-26814	32	20	rates	rate	NOUN
fbem-26814	32	21	.	.	PUNCT
fbem-26814	33	1	according	accord	VERB
fbem-26814	33	2	to	to	ADP
fbem-26814	33	3	this	this	DET
fbem-26814	33	4	model	model	NOUN
fbem-26814	33	5	,	,	PUNCT
fbem-26814	33	6	if	if	SCONJ
fbem-26814	33	7	the	the	DET
fbem-26814	33	8	growth	growth	NOUN
fbem-26814	33	9	of	of	ADP
fbem-26814	33	10	a	a	DET
fbem-26814	33	11	country	country	NOUN
fbem-26814	33	12	's	's	PART
fbem-26814	33	13	money	money	NOUN
fbem-26814	33	14	supply	supply	NOUN
fbem-26814	33	15	exceeds	exceed	VERB
fbem-26814	33	16	its	its	PRON
fbem-26814	33	17	economic	economic	ADJ
fbem-26814	33	18	expansion	expansion	NOUN
fbem-26814	33	19	rate	rate	NOUN
fbem-26814	33	20	,	,	PUNCT
fbem-26814	33	21	the	the	DET
fbem-26814	33	22	value	value	NOUN
fbem-26814	33	23	of	of	ADP
fbem-26814	33	24	its	its	PRON
fbem-26814	33	25	currency	currency	NOUN
fbem-26814	33	26	will	will	AUX
fbem-26814	33	27	tend	tend	VERB
fbem-26814	33	28	to	to	PART
fbem-26814	33	29	depreciate	depreciate	VERB
fbem-26814	33	30	[	[	X
fbem-26814	33	31	4	4	NUM
fbem-26814	33	32	]	]	PUNCT
fbem-26814	33	33	.	.	PUNCT
fbem-26814	34	1	the	the	DET
fbem-26814	34	2	core	core	ADJ
fbem-26814	34	3	argument	argument	NOUN
fbem-26814	34	4	of	of	ADP
fbem-26814	34	5	the	the	DET
fbem-26814	34	6	monetarist	monetarist	NOUN
fbem-26814	34	7	model	model	NOUN
fbem-26814	34	8	is	be	AUX
fbem-26814	34	9	the	the	DET
fbem-26814	34	10	dominant	dominant	ADJ
fbem-26814	34	11	role	role	NOUN
fbem-26814	34	12	of	of	ADP
fbem-26814	34	13	monetary	monetary	ADJ
fbem-26814	34	14	policy	policy	NOUN
fbem-26814	34	15	in	in	ADP
fbem-26814	34	16	exchange	exchange	NOUN
fbem-26814	34	17	rate	rate	NOUN
fbem-26814	34	18	fluctuations	fluctuation	NOUN
fbem-26814	34	19	.	.	PUNCT
fbem-26814	35	1	a	a	DET
fbem-26814	35	2	new	new	ADJ
fbem-26814	35	3	behavioral	behavioral	ADJ
fbem-26814	35	4	finance	finance	NOUN
fbem-26814	35	5	perspective	perspective	NOUN
fbem-26814	35	6	suggests	suggest	VERB
fbem-26814	35	7	that	that	SCONJ
fbem-26814	35	8	in	in	ADP
fbem-26814	35	9	addition	addition	NOUN
fbem-26814	35	10	to	to	ADP
fbem-26814	35	11	economic	economic	ADJ
fbem-26814	35	12	fundamentals	fundamental	NOUN
fbem-26814	35	13	,	,	PUNCT
fbem-26814	35	14	traders	trader	NOUN
fbem-26814	35	15	'	'	PART
fbem-26814	35	16	psychological	psychological	ADJ
fbem-26814	35	17	situations	situation	NOUN
fbem-26814	35	18	,	,	PUNCT
fbem-26814	35	19	emotional	emotional	ADJ
fbem-26814	35	20	tendencies	tendency	NOUN
fbem-26814	35	21	and	and	CCONJ
fbem-26814	35	22	decisionmaking	decisionmake	VERB
fbem-26814	35	23	biases	bias	NOUN
fbem-26814	35	24	can	can	AUX
fbem-26814	35	25	also	also	ADV
fbem-26814	35	26	have	have	VERB
fbem-26814	35	27	significant	significant	ADJ
fbem-26814	35	28	disturbing	disturbing	ADJ
fbem-26814	35	29	effects	effect	NOUN
fbem-26814	35	30	on	on	ADP
fbem-26814	35	31	exchange	exchange	NOUN
fbem-26814	35	32	rates	rate	NOUN
fbem-26814	35	33	.	.	PUNCT
fbem-26814	36	1	2.2	2.2	NUM
fbem-26814	36	2	.	.	PUNCT
fbem-26814	37	1	asset	asset	NOUN
fbem-26814	37	2	pricing	pricing	NOUN
fbem-26814	37	3	model	model	NOUN
fbem-26814	37	4	the	the	DET
fbem-26814	37	5	capital	capital	NOUN
fbem-26814	37	6	asset	asset	NOUN
fbem-26814	37	7	pricing	pricing	NOUN
fbem-26814	37	8	model	model	NOUN
fbem-26814	37	9	(	(	PUNCT
fbem-26814	37	10	capm	capm	PROPN
fbem-26814	37	11	)	)	PUNCT
fbem-26814	37	12	assesses	assesse	NOUN
fbem-26814	37	13	expected	expect	VERB
fbem-26814	37	14	returns	return	NOUN
fbem-26814	37	15	on	on	ADP
fbem-26814	37	16	risky	risky	ADJ
fbem-26814	37	17	assets	asset	NOUN
fbem-26814	37	18	based	base	VERB
fbem-26814	37	19	on	on	ADP
fbem-26814	37	20	systemic	systemic	ADJ
fbem-26814	37	21	risk	risk	NOUN
fbem-26814	37	22	(	(	PUNCT
fbem-26814	37	23	β	β	X
fbem-26814	37	24	coefficient	coefficient	NOUN
fbem-26814	37	25	)	)	PUNCT
fbem-26814	38	1	[	[	X
fbem-26814	38	2	5	5	NUM
fbem-26814	38	3	]	]	PUNCT
fbem-26814	38	4	.	.	PUNCT
fbem-26814	39	1	it	it	PRON
fbem-26814	39	2	assumes	assume	VERB
fbem-26814	39	3	rational	rational	ADJ
fbem-26814	39	4	investors	investor	NOUN
fbem-26814	39	5	,	,	PUNCT
fbem-26814	39	6	efficient	efficient	ADJ
fbem-26814	39	7	markets	market	NOUN
fbem-26814	39	8	,	,	PUNCT
fbem-26814	39	9	and	and	CCONJ
fbem-26814	39	10	quick	quick	ADJ
fbem-26814	39	11	price	price	NOUN
fbem-26814	39	12	corrections	correction	NOUN
fbem-26814	39	13	.	.	PUNCT
fbem-26814	40	1	arbitrage	arbitrage	NOUN
fbem-26814	40	2	pricing	pricing	NOUN
fbem-26814	40	3	theory	theory	NOUN
fbem-26814	40	4	(	(	PUNCT
fbem-26814	40	5	apt	apt	ADJ
fbem-26814	40	6	)	)	PUNCT
fbem-26814	40	7	is	be	AUX
fbem-26814	40	8	a	a	DET
fbem-26814	40	9	multi	multi	ADJ
fbem-26814	40	10	-	-	ADJ
fbem-26814	40	11	factor	factor	NOUN
fbem-26814	40	12	model	model	NOUN
fbem-26814	40	13	considering	consider	VERB
fbem-26814	40	14	macroeconomic	macroeconomic	ADJ
fbem-26814	40	15	factors	factor	NOUN
fbem-26814	40	16	like	like	ADP
fbem-26814	40	17	inflation	inflation	NOUN
fbem-26814	40	18	and	and	CCONJ
fbem-26814	40	19	interest	interest	NOUN
fbem-26814	40	20	rates	rate	NOUN
fbem-26814	40	21	,	,	PUNCT
fbem-26814	40	22	offering	offer	VERB
fbem-26814	40	23	flexible	flexible	ADJ
fbem-26814	40	24	risk	risk	NOUN
fbem-26814	40	25	management	management	NOUN
fbem-26814	40	26	.	.	PUNCT
fbem-26814	41	1	the	the	DET
fbem-26814	41	2	fama	fama	PROPN
fbem-26814	41	3	-	-	PUNCT
fbem-26814	41	4	french	french	ADJ
fbem-26814	41	5	three	three	NUM
fbem-26814	41	6	97	97	NUM
fbem-26814	41	7	factor	factor	NOUN
fbem-26814	41	8	model	model	NOUN
fbem-26814	41	9	adds	add	VERB
fbem-26814	41	10	firm	firm	ADJ
fbem-26814	41	11	size	size	NOUN
fbem-26814	41	12	and	and	CCONJ
fbem-26814	41	13	book	book	NOUN
fbem-26814	41	14	-	-	PUNCT
fbem-26814	41	15	to	to	ADP
fbem-26814	41	16	-	-	PUNCT
fbem-26814	41	17	market	market	NOUN
fbem-26814	41	18	ratio	ratio	NOUN
fbem-26814	41	19	to	to	ADP
fbem-26814	41	20	capm	capm	PROPN
fbem-26814	41	21	,	,	PUNCT
fbem-26814	41	22	arguing	argue	VERB
fbem-26814	41	23	higher	high	ADJ
fbem-26814	41	24	returns	return	NOUN
fbem-26814	41	25	for	for	ADP
fbem-26814	41	26	small	small	ADJ
fbem-26814	41	27	-	-	PUNCT
fbem-26814	41	28	cap	cap	NOUN
fbem-26814	41	29	and	and	CCONJ
fbem-26814	41	30	high	high	ADJ
fbem-26814	41	31	bookto	bookto	NOUN
fbem-26814	41	32	-	-	PUNCT
fbem-26814	41	33	market	market	NOUN
fbem-26814	41	34	stocks	stock	NOUN
fbem-26814	41	35	due	due	ADJ
fbem-26814	41	36	to	to	ADP
fbem-26814	41	37	higher	high	ADJ
fbem-26814	41	38	risk	risk	NOUN
fbem-26814	41	39	.	.	PUNCT
fbem-26814	42	1	2.3	2.3	NUM
fbem-26814	42	2	.	.	PUNCT
fbem-26814	43	1	research	research	NOUN
fbem-26814	43	2	hypothesis	hypothesis	NOUN
fbem-26814	43	3	from	from	ADP
fbem-26814	43	4	the	the	DET
fbem-26814	43	5	foregoing	forego	VERB
fbem-26814	43	6	theoretical	theoretical	ADJ
fbem-26814	43	7	discussion	discussion	NOUN
fbem-26814	43	8	,	,	PUNCT
fbem-26814	43	9	we	we	PRON
fbem-26814	43	10	can	can	AUX
fbem-26814	43	11	conceive	conceive	VERB
fbem-26814	43	12	the	the	DET
fbem-26814	43	13	following	follow	VERB
fbem-26814	43	14	hypothesis	hypothesis	NOUN
fbem-26814	43	15	.	.	PUNCT
fbem-26814	44	1	h1	h1	PROPN
fbem-26814	44	2	.	.	PUNCT
fbem-26814	45	1	the	the	DET
fbem-26814	45	2	volatility	volatility	NOUN
fbem-26814	45	3	of	of	ADP
fbem-26814	45	4	securities	security	NOUN
fbem-26814	45	5	prices	price	NOUN
fbem-26814	45	6	has	have	VERB
fbem-26814	45	7	a	a	DET
fbem-26814	45	8	significant	significant	ADJ
fbem-26814	45	9	disturbing	disturbing	ADJ
fbem-26814	45	10	effect	effect	NOUN
fbem-26814	45	11	on	on	ADP
fbem-26814	45	12	the	the	DET
fbem-26814	45	13	foreign	foreign	ADJ
fbem-26814	45	14	exchange	exchange	NOUN
fbem-26814	45	15	field	field	NOUN
fbem-26814	45	16	.	.	PUNCT
fbem-26814	46	1	h2	h2	NOUN
fbem-26814	46	2	.	.	PUNCT
fbem-26814	47	1	the	the	DET
fbem-26814	47	2	dynamic	dynamic	ADJ
fbem-26814	47	3	changes	change	NOUN
fbem-26814	47	4	in	in	ADP
fbem-26814	47	5	the	the	DET
fbem-26814	47	6	foreign	foreign	ADJ
fbem-26814	47	7	exchange	exchange	NOUN
fbem-26814	47	8	field	field	NOUN
fbem-26814	47	9	exert	exert	VERB
fbem-26814	47	10	an	an	DET
fbem-26814	47	11	important	important	ADJ
fbem-26814	47	12	counterforce	counterforce	NOUN
fbem-26814	47	13	to	to	ADP
fbem-26814	47	14	the	the	DET
fbem-26814	47	15	fluctuations	fluctuation	NOUN
fbem-26814	47	16	of	of	ADP
fbem-26814	47	17	asset	asset	NOUN
fbem-26814	47	18	values	value	NOUN
fbem-26814	47	19	.	.	PUNCT
fbem-26814	48	1	3	3	X
fbem-26814	48	2	.	.	X
fbem-26814	48	3	methodology	methodology	NOUN
fbem-26814	48	4	3.1	3.1	NUM
fbem-26814	48	5	.	.	PUNCT
fbem-26814	48	6	data	datum	NOUN
fbem-26814	48	7	source	source	NOUN
fbem-26814	48	8	and	and	CCONJ
fbem-26814	48	9	sample	sample	NOUN
fbem-26814	48	10	selection	selection	NOUN
fbem-26814	48	11	the	the	DET
fbem-26814	48	12	study	study	NOUN
fbem-26814	48	13	used	use	VERB
fbem-26814	48	14	data	datum	NOUN
fbem-26814	48	15	from	from	ADP
fbem-26814	48	16	internationally	internationally	ADV
fbem-26814	48	17	recognized	recognize	VERB
fbem-26814	48	18	financial	financial	ADJ
fbem-26814	48	19	databases	database	NOUN
fbem-26814	48	20	such	such	ADJ
fbem-26814	48	21	as	as	ADP
fbem-26814	48	22	bloomberg	bloomberg	NOUN
fbem-26814	48	23	,	,	PUNCT
fbem-26814	48	24	wind	wind	NOUN
fbem-26814	48	25	and	and	CCONJ
fbem-26814	48	26	others	other	NOUN
fbem-26814	48	27	.	.	PUNCT
fbem-26814	49	1	the	the	DET
fbem-26814	49	2	data	data	NOUN
fbem-26814	49	3	covers	cover	VERB
fbem-26814	49	4	daily	daily	ADJ
fbem-26814	49	5	closing	closing	NOUN
fbem-26814	49	6	prices	price	NOUN
fbem-26814	49	7	over	over	ADP
fbem-26814	49	8	selected	select	VERB
fbem-26814	49	9	time	time	NOUN
fbem-26814	49	10	periods	period	NOUN
fbem-26814	49	11	,	,	PUNCT
fbem-26814	49	12	including	include	VERB
fbem-26814	49	13	but	but	CCONJ
fbem-26814	49	14	not	not	PART
fbem-26814	49	15	limited	limit	VERB
fbem-26814	49	16	to	to	ADP
fbem-26814	49	17	stock	stock	NOUN
fbem-26814	49	18	indexes	index	NOUN
fbem-26814	49	19	,	,	PUNCT
fbem-26814	49	20	bond	bond	NOUN
fbem-26814	49	21	yields	yield	NOUN
fbem-26814	49	22	,	,	PUNCT
fbem-26814	49	23	commodity	commodity	NOUN
fbem-26814	49	24	prices	price	NOUN
fbem-26814	49	25	,	,	PUNCT
fbem-26814	49	26	and	and	CCONJ
fbem-26814	49	27	exchange	exchange	NOUN
fbem-26814	49	28	rates	rate	NOUN
fbem-26814	49	29	of	of	ADP
fbem-26814	49	30	major	major	ADJ
fbem-26814	49	31	currency	currency	NOUN
fbem-26814	49	32	pairs	pair	NOUN
fbem-26814	49	33	.	.	PUNCT
fbem-26814	50	1	the	the	DET
fbem-26814	50	2	sample	sample	NOUN
fbem-26814	50	3	includes	include	VERB
fbem-26814	50	4	major	major	ADJ
fbem-26814	50	5	financial	financial	ADJ
fbem-26814	50	6	indicators	indicator	NOUN
fbem-26814	50	7	from	from	ADP
fbem-26814	50	8	multiple	multiple	ADJ
fbem-26814	50	9	countries	country	NOUN
fbem-26814	50	10	and	and	CCONJ
fbem-26814	50	11	regions	region	NOUN
fbem-26814	50	12	to	to	PART
fbem-26814	50	13	ensure	ensure	VERB
fbem-26814	50	14	that	that	SCONJ
fbem-26814	50	15	the	the	DET
fbem-26814	50	16	findings	finding	NOUN
fbem-26814	50	17	are	be	AUX
fbem-26814	50	18	broadly	broadly	ADV
fbem-26814	50	19	representative	representative	ADJ
fbem-26814	50	20	and	and	CCONJ
fbem-26814	50	21	generalizable	generalizable	ADJ
fbem-26814	50	22	.	.	PUNCT
fbem-26814	51	1	a	a	DET
fbem-26814	51	2	long	long	ADJ
fbem-26814	51	3	time	time	NOUN
fbem-26814	51	4	span	span	NOUN
fbem-26814	51	5	was	be	AUX
fbem-26814	51	6	selected	select	VERB
fbem-26814	51	7	during	during	ADP
fbem-26814	51	8	the	the	DET
fbem-26814	51	9	sample	sample	NOUN
fbem-26814	51	10	period	period	NOUN
fbem-26814	51	11	in	in	ADP
fbem-26814	51	12	order	order	NOUN
fbem-26814	51	13	to	to	PART
fbem-26814	51	14	capture	capture	VERB
fbem-26814	51	15	market	market	NOUN
fbem-26814	51	16	performance	performance	NOUN
fbem-26814	51	17	in	in	ADP
fbem-26814	51	18	different	different	ADJ
fbem-26814	51	19	economic	economic	ADJ
fbem-26814	51	20	cycles	cycle	NOUN
fbem-26814	51	21	.	.	PUNCT
fbem-26814	52	1	3.2	3.2	NUM
fbem-26814	52	2	.	.	PUNCT
fbem-26814	53	1	variable	variable	ADJ
fbem-26814	53	2	definition	definition	NOUN
fbem-26814	53	3	the	the	DET
fbem-26814	53	4	core	core	NOUN
fbem-26814	53	5	changes	change	NOUN
fbem-26814	53	6	in	in	ADP
fbem-26814	53	7	the	the	DET
fbem-26814	53	8	foreign	foreign	ADJ
fbem-26814	53	9	exchange	exchange	NOUN
fbem-26814	53	10	market	market	NOUN
fbem-26814	53	11	,	,	PUNCT
fbem-26814	53	12	reflected	reflect	VERB
fbem-26814	53	13	in	in	ADP
fbem-26814	53	14	exchange	exchange	NOUN
fbem-26814	53	15	rate	rate	NOUN
fbem-26814	53	16	dynamics	dynamic	NOUN
fbem-26814	53	17	,	,	PUNCT
fbem-26814	53	18	are	be	AUX
fbem-26814	53	19	the	the	DET
fbem-26814	53	20	dependent	dependent	ADJ
fbem-26814	53	21	variable	variable	NOUN
fbem-26814	53	22	.	.	PUNCT
fbem-26814	54	1	independent	independent	ADJ
fbem-26814	54	2	variables	variable	NOUN
fbem-26814	54	3	include	include	VERB
fbem-26814	54	4	financial	financial	ADJ
fbem-26814	54	5	market	market	NOUN
fbem-26814	54	6	value	value	NOUN
fbem-26814	54	7	swings	swing	NOUN
fbem-26814	54	8	,	,	PUNCT
fbem-26814	54	9	such	such	ADJ
fbem-26814	54	10	as	as	ADP
fbem-26814	54	11	stock	stock	NOUN
fbem-26814	54	12	market	market	NOUN
fbem-26814	54	13	,	,	PUNCT
fbem-26814	54	14	bond	bond	NOUN
fbem-26814	54	15	yield	yield	NOUN
fbem-26814	54	16	,	,	PUNCT
fbem-26814	54	17	and	and	CCONJ
fbem-26814	54	18	commodity	commodity	NOUN
fbem-26814	54	19	pricing	pricing	NOUN
fbem-26814	54	20	fluctuations	fluctuation	NOUN
fbem-26814	54	21	.	.	PUNCT
fbem-26814	55	1	control	control	NOUN
fbem-26814	55	2	variables	variable	NOUN
fbem-26814	55	3	,	,	PUNCT
fbem-26814	55	4	like	like	ADP
fbem-26814	55	5	gdp	gdp	NOUN
fbem-26814	55	6	growth	growth	NOUN
fbem-26814	55	7	,	,	PUNCT
fbem-26814	55	8	inflation	inflation	NOUN
fbem-26814	55	9	,	,	PUNCT
fbem-26814	55	10	policy	policy	NOUN
fbem-26814	55	11	interest	interest	NOUN
fbem-26814	55	12	rate	rate	NOUN
fbem-26814	55	13	adjustments	adjustment	NOUN
fbem-26814	55	14	,	,	PUNCT
fbem-26814	55	15	and	and	CCONJ
fbem-26814	55	16	investment	investment	NOUN
fbem-26814	55	17	climate	climate	NOUN
fbem-26814	55	18	,	,	PUNCT
fbem-26814	55	19	are	be	AUX
fbem-26814	55	20	introduced	introduce	VERB
fbem-26814	55	21	to	to	PART
fbem-26814	55	22	eliminate	eliminate	VERB
fbem-26814	55	23	distractions	distraction	NOUN
fbem-26814	55	24	.	.	PUNCT
fbem-26814	56	1	3.3	3.3	NUM
fbem-26814	56	2	.	.	PUNCT
fbem-26814	57	1	research	research	NOUN
fbem-26814	57	2	method	method	NOUN
fbem-26814	57	3	by	by	ADP
fbem-26814	57	4	calculating	calculate	VERB
fbem-26814	57	5	the	the	DET
fbem-26814	57	6	mean	mean	ADJ
fbem-26814	57	7	value	value	NOUN
fbem-26814	57	8	,	,	PUNCT
fbem-26814	57	9	standard	standard	ADJ
fbem-26814	57	10	deviation	deviation	NOUN
fbem-26814	57	11	,	,	PUNCT
fbem-26814	57	12	extreme	extreme	ADJ
fbem-26814	57	13	value	value	NOUN
fbem-26814	57	14	and	and	CCONJ
fbem-26814	57	15	other	other	ADJ
fbem-26814	57	16	core	core	ADJ
fbem-26814	57	17	statistical	statistical	ADJ
fbem-26814	57	18	indicators	indicator	NOUN
fbem-26814	57	19	of	of	ADP
fbem-26814	57	20	each	each	DET
fbem-26814	57	21	variable	variable	NOUN
fbem-26814	57	22	,	,	PUNCT
fbem-26814	57	23	we	we	PRON
fbem-26814	57	24	can	can	AUX
fbem-26814	57	25	gain	gain	VERB
fbem-26814	57	26	insight	insight	NOUN
fbem-26814	57	27	into	into	ADP
fbem-26814	57	28	the	the	DET
fbem-26814	57	29	distribution	distribution	NOUN
fbem-26814	57	30	characteristics	characteristic	NOUN
fbem-26814	57	31	of	of	ADP
fbem-26814	57	32	the	the	DET
fbem-26814	57	33	data	datum	NOUN
fbem-26814	57	34	and	and	CCONJ
fbem-26814	57	35	further	far	ADV
fbem-26814	57	36	provide	provide	VERB
fbem-26814	57	37	a	a	DET
fbem-26814	57	38	solid	solid	ADJ
fbem-26814	57	39	preliminary	preliminary	ADJ
fbem-26814	57	40	preparation	preparation	NOUN
fbem-26814	57	41	for	for	ADP
fbem-26814	57	42	the	the	DET
fbem-26814	57	43	subsequent	subsequent	ADJ
fbem-26814	57	44	in	in	ADP
fbem-26814	57	45	-	-	PUNCT
fbem-26814	57	46	depth	depth	NOUN
fbem-26814	57	47	analysis	analysis	NOUN
fbem-26814	57	48	.	.	PUNCT
fbem-26814	58	1	in	in	ADP
fbem-26814	58	2	order	order	NOUN
fbem-26814	58	3	to	to	PART
fbem-26814	58	4	investigate	investigate	VERB
fbem-26814	58	5	the	the	DET
fbem-26814	58	6	existence	existence	NOUN
fbem-26814	58	7	of	of	ADP
fbem-26814	58	8	unit	unit	NOUN
fbem-26814	58	9	root	root	NOUN
fbem-26814	58	10	phenomenon	phenomenon	NOUN
fbem-26814	58	11	in	in	ADP
fbem-26814	58	12	each	each	DET
fbem-26814	58	13	time	time	NOUN
fbem-26814	58	14	series	series	NOUN
fbem-26814	58	15	,	,	PUNCT
fbem-26814	58	16	we	we	PRON
fbem-26814	58	17	propose	propose	VERB
fbem-26814	58	18	to	to	PART
fbem-26814	58	19	adopt	adopt	VERB
fbem-26814	58	20	the	the	DET
fbem-26814	58	21	enhanced	enhance	VERB
fbem-26814	58	22	dickey	dickey	NOUN
fbem-26814	58	23	-	-	PUNCT
fbem-26814	58	24	fuller	full	ADJ
fbem-26814	58	25	(	(	PUNCT
fbem-26814	58	26	adf	adf	NOUN
fbem-26814	58	27	)	)	PUNCT
fbem-26814	58	28	test	test	NOUN
fbem-26814	58	29	and	and	CCONJ
fbem-26814	58	30	the	the	DET
fbem-26814	58	31	kwiatkowski	kwiatkowski	PROPN
fbem-26814	58	32	-	-	PUNCT
fbem-26814	58	33	phillips	phillip	NOUN
fbem-26814	58	34	-	-	PUNCT
fbem-26814	58	35	schmidt	schmidt	ADJ
fbem-26814	58	36	-	-	PUNCT
fbem-26814	58	37	shin	shin	NOUN
fbem-26814	58	38	(	(	PUNCT
fbem-26814	58	39	kpss	kpss	PROPN
fbem-26814	58	40	)	)	PUNCT
fbem-26814	58	41	test	test	NOUN
fbem-26814	58	42	.	.	PUNCT
fbem-26814	59	1	this	this	DET
fbem-26814	59	2	step	step	NOUN
fbem-26814	59	3	is	be	AUX
fbem-26814	59	4	crucial	crucial	ADJ
fbem-26814	59	5	for	for	ADP
fbem-26814	59	6	evaluating	evaluate	VERB
fbem-26814	59	7	the	the	DET
fbem-26814	59	8	stability	stability	NOUN
fbem-26814	59	9	of	of	ADP
fbem-26814	59	10	variables	variable	NOUN
fbem-26814	59	11	.	.	PUNCT
fbem-26814	60	1	once	once	SCONJ
fbem-26814	60	2	the	the	DET
fbem-26814	60	3	instability	instability	NOUN
fbem-26814	60	4	of	of	ADP
fbem-26814	60	5	time	time	NOUN
fbem-26814	60	6	series	series	NOUN
fbem-26814	60	7	is	be	AUX
fbem-26814	60	8	revealed	reveal	VERB
fbem-26814	60	9	in	in	ADP
fbem-26814	60	10	the	the	DET
fbem-26814	60	11	unit	unit	NOUN
fbem-26814	60	12	root	root	NOUN
fbem-26814	60	13	test	test	NOUN
fbem-26814	60	14	,	,	PUNCT
fbem-26814	60	15	we	we	PRON
fbem-26814	60	16	will	will	AUX
fbem-26814	60	17	then	then	ADV
fbem-26814	60	18	carry	carry	VERB
fbem-26814	60	19	out	out	ADP
fbem-26814	60	20	the	the	DET
fbem-26814	60	21	engle	engle	NOUN
fbem-26814	60	22	-	-	PUNCT
fbem-26814	60	23	granger	granger	PROPN
fbem-26814	60	24	two	two	NUM
fbem-26814	60	25	-	-	PUNCT
fbem-26814	60	26	step	step	NOUN
fbem-26814	60	27	method	method	NOUN
fbem-26814	60	28	or	or	CCONJ
fbem-26814	60	29	johansen	johansen	PROPN
fbem-26814	60	30	co	co	PROPN
fbem-26814	60	31	-	-	NOUN
fbem-26814	60	32	integration	integration	NOUN
fbem-26814	60	33	test	test	NOUN
fbem-26814	60	34	,	,	PUNCT
fbem-26814	60	35	so	so	SCONJ
fbem-26814	60	36	as	as	SCONJ
fbem-26814	60	37	to	to	PART
fbem-26814	60	38	explore	explore	VERB
fbem-26814	60	39	whether	whether	SCONJ
fbem-26814	60	40	there	there	PRON
fbem-26814	60	41	is	be	VERB
fbem-26814	60	42	a	a	DET
fbem-26814	60	43	durable	durable	ADJ
fbem-26814	60	44	linear	linear	NOUN
fbem-26814	60	45	equilibrium	equilibrium	NOUN
fbem-26814	60	46	correlation	correlation	NOUN
fbem-26814	60	47	between	between	ADP
fbem-26814	60	48	these	these	DET
fbem-26814	60	49	unsteady	unsteady	ADJ
fbem-26814	60	50	variables	variable	NOUN
fbem-26814	60	51	.	.	PUNCT
fbem-26814	61	1	we	we	PRON
fbem-26814	61	2	use	use	VERB
fbem-26814	61	3	vector	vector	NOUN
fbem-26814	61	4	autoregressive	autoregressive	ADJ
fbem-26814	61	5	(	(	PUNCT
fbem-26814	61	6	var	var	NOUN
fbem-26814	61	7	)	)	PUNCT
fbem-26814	61	8	model	model	NOUN
fbem-26814	61	9	to	to	PART
fbem-26814	61	10	explore	explore	VERB
fbem-26814	61	11	the	the	DET
fbem-26814	61	12	dynamic	dynamic	ADJ
fbem-26814	61	13	interaction	interaction	NOUN
fbem-26814	61	14	between	between	ADP
fbem-26814	61	15	asset	asset	NOUN
fbem-26814	61	16	price	price	NOUN
fbem-26814	61	17	volatility	volatility	NOUN
fbem-26814	61	18	and	and	CCONJ
fbem-26814	61	19	foreign	foreign	ADJ
fbem-26814	61	20	exchange	exchange	NOUN
fbem-26814	61	21	market	market	NOUN
fbem-26814	61	22	.	.	PUNCT
fbem-26814	62	1	the	the	DET
fbem-26814	62	2	var	var	NOUN
fbem-26814	62	3	model	model	NOUN
fbem-26814	62	4	has	have	VERB
fbem-26814	62	5	the	the	DET
fbem-26814	62	6	unique	unique	ADJ
fbem-26814	62	7	advantage	advantage	NOUN
fbem-26814	62	8	of	of	ADP
fbem-26814	62	9	taking	take	VERB
fbem-26814	62	10	into	into	ADP
fbem-26814	62	11	account	account	NOUN
fbem-26814	62	12	the	the	DET
fbem-26814	62	13	interdependence	interdependence	NOUN
fbem-26814	62	14	among	among	ADP
fbem-26814	62	15	multiple	multiple	ADJ
fbem-26814	62	16	time	time	NOUN
fbem-26814	62	17	series	series	NOUN
fbem-26814	62	18	and	and	CCONJ
fbem-26814	62	19	estimating	estimate	VERB
fbem-26814	62	20	the	the	DET
fbem-26814	62	21	short	short	ADJ
fbem-26814	62	22	and	and	CCONJ
fbem-26814	62	23	long	long	ADJ
fbem-26814	62	24	-	-	PUNCT
fbem-26814	62	25	term	term	NOUN
fbem-26814	62	26	interaction	interaction	NOUN
fbem-26814	62	27	between	between	ADP
fbem-26814	62	28	variables	variable	NOUN
fbem-26814	62	29	without	without	ADP
fbem-26814	62	30	presupposing	presuppose	VERB
fbem-26814	62	31	clear	clear	ADJ
fbem-26814	62	32	causal	causal	ADJ
fbem-26814	62	33	links	link	NOUN
fbem-26814	62	34	.	.	PUNCT
fbem-26814	63	1	using	use	VERB
fbem-26814	63	2	granger	granger	PROPN
fbem-26814	63	3	causality	causality	PROPN
fbem-26814	63	4	test	test	NOUN
fbem-26814	63	5	,	,	PUNCT
fbem-26814	63	6	we	we	PRON
fbem-26814	63	7	will	will	AUX
fbem-26814	63	8	identify	identify	VERB
fbem-26814	63	9	whether	whether	SCONJ
fbem-26814	63	10	asset	asset	NOUN
fbem-26814	63	11	price	price	NOUN
fbem-26814	63	12	fluctuations	fluctuation	NOUN
fbem-26814	63	13	constitute	constitute	VERB
fbem-26814	63	14	the	the	DET
fbem-26814	63	15	"	"	PUNCT
fbem-26814	63	16	anthems	anthem	NOUN
fbem-26814	63	17	"	"	PUNCT
fbem-26814	63	18	of	of	ADP
fbem-26814	63	19	changes	change	NOUN
fbem-26814	63	20	in	in	ADP
fbem-26814	63	21	the	the	DET
fbem-26814	63	22	forex	forex	ADJ
fbem-26814	63	23	market	market	NOUN
fbem-26814	63	24	,	,	PUNCT
fbem-26814	63	25	and	and	CCONJ
fbem-26814	63	26	vice	vice	ADV
fbem-26814	63	27	versa	versa	ADV
fbem-26814	63	28	.	.	PUNCT
fbem-26814	64	1	3.4	3.4	NUM
fbem-26814	64	2	.	.	PUNCT
fbem-26814	64	3	empirical	empirical	ADJ
fbem-26814	64	4	design	design	NOUN
fbem-26814	64	5	based	base	VERB
fbem-26814	64	6	on	on	ADP
fbem-26814	64	7	the	the	DET
fbem-26814	64	8	methods	method	NOUN
fbem-26814	64	9	and	and	CCONJ
fbem-26814	64	10	strategies	strategy	NOUN
fbem-26814	64	11	mentioned	mention	VERB
fbem-26814	64	12	,	,	PUNCT
fbem-26814	64	13	we	we	PRON
fbem-26814	64	14	will	will	AUX
fbem-26814	64	15	build	build	VERB
fbem-26814	64	16	a	a	DET
fbem-26814	64	17	vector	vector	NOUN
fbem-26814	64	18	autoregression	autoregression	NOUN
fbem-26814	64	19	(	(	PUNCT
fbem-26814	64	20	var	var	NOUN
fbem-26814	64	21	)	)	PUNCT
fbem-26814	64	22	model	model	NOUN
fbem-26814	64	23	using	use	VERB
fbem-26814	64	24	detailed	detailed	ADJ
fbem-26814	64	25	sample	sample	NOUN
fbem-26814	64	26	data	datum	NOUN
fbem-26814	64	27	for	for	ADP
fbem-26814	64	28	accurate	accurate	ADJ
fbem-26814	64	29	parameter	parameter	NOUN
fbem-26814	64	30	estimates	estimate	NOUN
fbem-26814	64	31	.	.	PUNCT
fbem-26814	65	1	to	to	PART
fbem-26814	65	2	ensure	ensure	VERB
fbem-26814	65	3	the	the	DET
fbem-26814	65	4	model	model	NOUN
fbem-26814	65	5	's	's	PART
fbem-26814	65	6	theoretical	theoretical	ADJ
fbem-26814	65	7	and	and	CCONJ
fbem-26814	65	8	practical	practical	ADJ
fbem-26814	65	9	effectiveness	effectiveness	NOUN
fbem-26814	65	10	,	,	PUNCT
fbem-26814	65	11	we	we	PRON
fbem-26814	65	12	will	will	AUX
fbem-26814	65	13	rigorously	rigorously	ADV
fbem-26814	65	14	verify	verify	VERB
fbem-26814	65	15	and	and	CCONJ
fbem-26814	65	16	optimize	optimize	VERB
fbem-26814	65	17	it	it	PRON
fbem-26814	65	18	.	.	PUNCT
fbem-26814	66	1	this	this	PRON
fbem-26814	66	2	includes	include	VERB
fbem-26814	66	3	conducting	conduct	VERB
fbem-26814	66	4	a	a	DET
fbem-26814	66	5	systematic	systematic	ADJ
fbem-26814	66	6	residual	residual	ADJ
fbem-26814	66	7	analysis	analysis	NOUN
fbem-26814	66	8	,	,	PUNCT
fbem-26814	66	9	focusing	focus	VERB
fbem-26814	66	10	on	on	ADP
fbem-26814	66	11	white	white	ADJ
fbem-26814	66	12	noise	noise	NOUN
fbem-26814	66	13	testing	testing	NOUN
fbem-26814	66	14	to	to	PART
fbem-26814	66	15	ensure	ensure	VERB
fbem-26814	66	16	residuals	residual	NOUN
fbem-26814	66	17	are	be	AUX
fbem-26814	66	18	purely	purely	ADV
fbem-26814	66	19	random	random	ADJ
fbem-26814	66	20	errors	error	NOUN
fbem-26814	66	21	.	.	PUNCT
fbem-26814	67	1	we	we	PRON
fbem-26814	67	2	will	will	AUX
fbem-26814	67	3	also	also	ADV
fbem-26814	67	4	use	use	VERB
fbem-26814	67	5	visual	visual	ADJ
fbem-26814	67	6	tools	tool	NOUN
fbem-26814	67	7	like	like	ADP
fbem-26814	67	8	autocorrelation	autocorrelation	NOUN
fbem-26814	67	9	graphs	graph	NOUN
fbem-26814	67	10	(	(	PUNCT
fbem-26814	67	11	acf	acf	PROPN
fbem-26814	67	12	)	)	PUNCT
fbem-26814	67	13	and	and	CCONJ
fbem-26814	67	14	partial	partial	ADJ
fbem-26814	67	15	autocorrelation	autocorrelation	NOUN
fbem-26814	67	16	graphs	graph	NOUN
fbem-26814	67	17	(	(	PUNCT
fbem-26814	67	18	pacf	pacf	NOUN
fbem-26814	67	19	)	)	PUNCT
fbem-26814	67	20	to	to	PART
fbem-26814	67	21	analyze	analyze	VERB
fbem-26814	67	22	residuals	residual	NOUN
fbem-26814	67	23	,	,	PUNCT
fbem-26814	67	24	checking	check	VERB
fbem-26814	67	25	for	for	ADP
fbem-26814	67	26	periodic	periodic	ADJ
fbem-26814	67	27	or	or	CCONJ
fbem-26814	67	28	trend	trend	NOUN
fbem-26814	67	29	components	component	NOUN
fbem-26814	67	30	and	and	CCONJ
fbem-26814	67	31	identifying	identify	VERB
fbem-26814	67	32	overfitting	overfitte	VERB
fbem-26814	67	33	or	or	CCONJ
fbem-26814	67	34	missing	miss	VERB
fbem-26814	67	35	variables	variable	NOUN
fbem-26814	67	36	.	.	PUNCT
fbem-26814	68	1	these	these	DET
fbem-26814	68	2	tests	test	NOUN
fbem-26814	68	3	will	will	AUX
fbem-26814	68	4	verify	verify	VERB
fbem-26814	68	5	that	that	SCONJ
fbem-26814	68	6	residuals	residual	NOUN
fbem-26814	68	7	meet	meet	VERB
fbem-26814	68	8	requirements	requirement	NOUN
fbem-26814	68	9	of	of	ADP
fbem-26814	68	10	no	no	DET
fbem-26814	68	11	autocorrelation	autocorrelation	NOUN
fbem-26814	68	12	,	,	PUNCT
fbem-26814	68	13	constant	constant	ADJ
fbem-26814	68	14	mean	mean	ADJ
fbem-26814	68	15	square	square	NOUN
fbem-26814	68	16	error	error	NOUN
fbem-26814	68	17	,	,	PUNCT
fbem-26814	68	18	and	and	CCONJ
fbem-26814	68	19	normal	normal	ADJ
fbem-26814	68	20	distribution	distribution	NOUN
fbem-26814	68	21	.	.	PUNCT
fbem-26814	69	1	4	4	X
fbem-26814	69	2	.	.	X
fbem-26814	69	3	empirical	empirical	ADJ
fbem-26814	69	4	analysis	analysis	NOUN
fbem-26814	69	5	4.1	4.1	NUM
fbem-26814	69	6	.	.	PUNCT
fbem-26814	70	1	descriptive	descriptive	ADJ
fbem-26814	70	2	statistical	statistical	ADJ
fbem-26814	70	3	analysis	analysis	NOUN
fbem-26814	70	4	table	table	NOUN
fbem-26814	70	5	1	1	NUM
fbem-26814	70	6	shows	show	VERB
fbem-26814	70	7	the	the	DET
fbem-26814	70	8	mean	mean	ADJ
fbem-26814	70	9	value	value	NOUN
fbem-26814	70	10	,	,	PUNCT
fbem-26814	70	11	standard	standard	ADJ
fbem-26814	70	12	deviation	deviation	NOUN
fbem-26814	70	13	,	,	PUNCT
fbem-26814	70	14	minimum	minimum	NOUN
fbem-26814	70	15	value	value	NOUN
fbem-26814	70	16	,	,	PUNCT
fbem-26814	70	17	maximum	maximum	ADJ
fbem-26814	70	18	value	value	NOUN
fbem-26814	70	19	and	and	CCONJ
fbem-26814	70	20	other	other	ADJ
fbem-26814	70	21	statistics	statistic	NOUN
fbem-26814	70	22	of	of	ADP
fbem-26814	70	23	each	each	DET
fbem-26814	70	24	major	major	ADJ
fbem-26814	70	25	variable	variable	NOUN
fbem-26814	70	26	,	,	PUNCT
fbem-26814	70	27	which	which	PRON
fbem-26814	70	28	helps	help	VERB
fbem-26814	70	29	us	we	PRON
fbem-26814	70	30	to	to	PART
fbem-26814	70	31	preliminarily	preliminarily	ADV
fbem-26814	70	32	understand	understand	VERB
fbem-26814	70	33	the	the	DET
fbem-26814	70	34	distribution	distribution	NOUN
fbem-26814	70	35	of	of	ADP
fbem-26814	70	36	data	datum	NOUN
fbem-26814	70	37	.	.	PUNCT
fbem-26814	71	1	table	table	NOUN
fbem-26814	71	2	1	1	NUM
fbem-26814	71	3	.	.	PUNCT
fbem-26814	72	1	experimental	experimental	ADJ
fbem-26814	72	2	results	result	NOUN
fbem-26814	72	3	the	the	DET
fbem-26814	72	4	observations	observation	NOUN
fbem-26814	72	5	revealed	reveal	VERB
fbem-26814	72	6	in	in	ADP
fbem-26814	72	7	this	this	DET
fbem-26814	72	8	study	study	NOUN
fbem-26814	72	9	suggest	suggest	VERB
fbem-26814	72	10	that	that	SCONJ
fbem-26814	72	11	there	there	PRON
fbem-26814	72	12	is	be	VERB
fbem-26814	72	13	a	a	DET
fbem-26814	72	14	unique	unique	ADJ
fbem-26814	72	15	dynamic	dynamic	ADJ
fbem-26814	72	16	correlation	correlation	NOUN
fbem-26814	72	17	between	between	ADP
fbem-26814	72	18	stock	stock	NOUN
fbem-26814	72	19	market	market	NOUN
fbem-26814	72	20	index	index	NOUN
fbem-26814	72	21	,	,	PUNCT
fbem-26814	72	22	securities	security	NOUN
fbem-26814	72	23	trading	trading	NOUN
fbem-26814	72	24	profits	profit	NOUN
fbem-26814	72	25	,	,	PUNCT
fbem-26814	72	26	futures	future	NOUN
fbem-26814	72	27	commodity	commodity	NOUN
fbem-26814	72	28	valuation	valuation	NOUN
fbem-26814	72	29	fluctuations	fluctuation	NOUN
fbem-26814	72	30	and	and	CCONJ
fbem-26814	72	31	exchange	exchange	NOUN
fbem-26814	72	32	rate	rate	NOUN
fbem-26814	72	33	changes	change	NOUN
fbem-26814	72	34	between	between	ADP
fbem-26814	72	35	currencies	currency	NOUN
fbem-26814	72	36	and	and	CCONJ
fbem-26814	72	37	the	the	DET
fbem-26814	72	38	above	above	ADJ
fbem-26814	72	39	factors	factor	NOUN
fbem-26814	72	40	.	.	PUNCT
fbem-26814	73	1	specifically	specifically	ADV
fbem-26814	73	2	,	,	PUNCT
fbem-26814	73	3	the	the	DET
fbem-26814	73	4	stock	stock	NOUN
fbem-26814	73	5	index	index	NOUN
fbem-26814	73	6	often	often	ADV
fbem-26814	73	7	experiences	experience	VERB
fbem-26814	73	8	a	a	DET
fbem-26814	73	9	significant	significant	ADJ
fbem-26814	73	10	fluctuation	fluctuation	NOUN
fbem-26814	73	11	of	of	ADP
fbem-26814	73	12	±500.00	±500.00	PROPN
fbem-26814	73	13	points	point	NOUN
fbem-26814	73	14	around	around	ADP
fbem-26814	73	15	the	the	DET
fbem-26814	73	16	base	base	NOUN
fbem-26814	73	17	point	point	NOUN
fbem-26814	73	18	of	of	ADP
fbem-26814	73	19	3000.00	3000.00	NUM
fbem-26814	73	20	(	(	PUNCT
fbem-26814	73	21	the	the	DET
fbem-26814	73	22	change	change	NOUN
fbem-26814	73	23	range	range	NOUN
fbem-26814	73	24	is	be	AUX
fbem-26814	73	25	2000.00	2000.00	NUM
fbem-26814	73	26	to	to	ADP
fbem-26814	73	27	4000.00	4000.00	NUM
fbem-26814	73	28	points	point	NOUN
fbem-26814	73	29	)	)	PUNCT
fbem-26814	73	30	,	,	PUNCT
fbem-26814	73	31	which	which	PRON
fbem-26814	73	32	is	be	AUX
fbem-26814	73	33	quite	quite	ADV
fbem-26814	73	34	violent	violent	ADJ
fbem-26814	73	35	.	.	PUNCT
fbem-26814	74	1	on	on	ADP
fbem-26814	74	2	the	the	DET
fbem-26814	74	3	contrary	contrary	NOUN
fbem-26814	74	4	,	,	PUNCT
fbem-26814	74	5	the	the	DET
fbem-26814	74	6	return	return	NOUN
fbem-26814	74	7	curve	curve	NOUN
fbem-26814	74	8	of	of	ADP
fbem-26814	74	9	bonds	bond	NOUN
fbem-26814	74	10	depicts	depict	VERB
fbem-26814	74	11	a	a	DET
fbem-26814	74	12	uniform	uniform	ADJ
fbem-26814	74	13	mean	mean	NOUN
fbem-26814	74	14	value	value	NOUN
fbem-26814	74	15	of	of	ADP
fbem-26814	74	16	about	about	ADP
fbem-26814	74	17	2.50	2.50	NUM
fbem-26814	74	18	%	%	NOUN
fbem-26814	74	19	,	,	PUNCT
fbem-26814	74	20	and	and	CCONJ
fbem-26814	74	21	its	its	PRON
fbem-26814	74	22	variation	variation	NOUN
fbem-26814	74	23	range	range	NOUN
fbem-26814	74	24	is	be	AUX
fbem-26814	74	25	narrow	narrow	ADJ
fbem-26814	74	26	,	,	PUNCT
fbem-26814	74	27	limited	limit	VERB
fbem-26814	74	28	to	to	ADP
fbem-26814	74	29	1.00	1.00	NUM
fbem-26814	74	30	%	%	NOUN
fbem-26814	74	31	to	to	PART
fbem-26814	74	32	4.00	4.00	NUM
fbem-26814	74	33	%	%	NOUN
fbem-26814	74	34	,	,	PUNCT
fbem-26814	74	35	showing	show	VERB
fbem-26814	74	36	a	a	DET
fbem-26814	74	37	relatively	relatively	ADV
fbem-26814	74	38	smooth	smooth	ADJ
fbem-26814	74	39	and	and	CCONJ
fbem-26814	74	40	predictable	predictable	ADJ
fbem-26814	74	41	variation	variation	NOUN
fbem-26814	74	42	trend	trend	NOUN
fbem-26814	74	43	.	.	PUNCT
fbem-26814	75	1	commodities	commodity	NOUN
fbem-26814	75	2	,	,	PUNCT
fbem-26814	75	3	priced	price	VERB
fbem-26814	75	4	at	at	ADP
fbem-26814	75	5	100.00onaveragewitha20.00	100.00onaveragewitha20.00	NUM
fbem-26814	75	6	swing	swing	NOUN
fbem-26814	75	7	(	(	PUNCT
fbem-26814	75	8	60.00−150.00	60.00−150.00	NUM
fbem-26814	75	9	)	)	PUNCT
fbem-26814	75	10	,	,	PUNCT
fbem-26814	75	11	show	show	VERB
fbem-26814	75	12	significant	significant	ADJ
fbem-26814	75	13	instability	instability	NOUN
fbem-26814	75	14	.	.	PUNCT
fbem-26814	76	1	the	the	DET
fbem-26814	76	2	mean	mean	ADJ
fbem-26814	76	3	deviation	deviation	NOUN
fbem-26814	76	4	of	of	ADP
fbem-26814	76	5	the	the	DET
fbem-26814	76	6	currency	currency	NOUN
fbem-26814	76	7	exchange	exchange	NOUN
fbem-26814	76	8	rate	rate	NOUN
fbem-26814	76	9	is	be	AUX
fbem-26814	76	10	a	a	DET
fbem-26814	76	11	negligible	negligible	ADJ
fbem-26814	76	12	-0.01	-0.01	NUM
fbem-26814	76	13	%	%	NOUN
fbem-26814	76	14	,	,	PUNCT
fbem-26814	76	15	indicating	indicate	VERB
fbem-26814	76	16	very	very	ADV
fbem-26814	76	17	low	low	ADJ
fbem-26814	76	18	instability	instability	NOUN
fbem-26814	76	19	(	(	PUNCT
fbem-26814	76	20	the	the	DET
fbem-26814	76	21	standard	standard	ADJ
fbem-26814	76	22	error	error	NOUN
fbem-26814	76	23	is	be	AUX
fbem-26814	76	24	0.02	0.02	NUM
fbem-26814	76	25	%	%	NOUN
fbem-26814	76	26	)	)	PUNCT
fbem-26814	76	27	,	,	PUNCT
fbem-26814	76	28	and	and	CCONJ
fbem-26814	76	29	its	its	PRON
fbem-26814	76	30	range	range	NOUN
fbem-26814	76	31	is	be	AUX
fbem-26814	76	32	limited	limit	VERB
fbem-26814	76	33	to	to	ADP
fbem-26814	76	34	between	between	ADP
fbem-26814	76	35	-0.05	-0.05	ADJ
fbem-26814	76	36	%	%	NOUN
fbem-26814	76	37	and	and	CCONJ
fbem-26814	76	38	0.03	0.03	NUM
fbem-26814	76	39	%	%	NOUN
fbem-26814	76	40	.	.	PUNCT
fbem-26814	77	1	taken	take	VERB
fbem-26814	77	2	together	together	ADV
fbem-26814	77	3	,	,	PUNCT
fbem-26814	77	4	bond	bond	NOUN
fbem-26814	77	5	yields	yield	NOUN
fbem-26814	77	6	are	be	AUX
fbem-26814	77	7	a	a	DET
fbem-26814	77	8	safe	safe	ADJ
fbem-26814	77	9	haven	haven	NOUN
fbem-26814	77	10	in	in	ADP
fbem-26814	77	11	volatile	volatile	ADJ
fbem-26814	77	12	financial	financial	ADJ
fbem-26814	77	13	markets	market	NOUN
fbem-26814	77	14	,	,	PUNCT
fbem-26814	77	15	with	with	ADP
fbem-26814	77	16	significantly	significantly	ADV
fbem-26814	77	17	lower	low	ADJ
fbem-26814	77	18	volatility	volatility	NOUN
fbem-26814	77	19	than	than	ADP
fbem-26814	77	20	other	other	ADJ
fbem-26814	77	21	asset	asset	NOUN
fbem-26814	77	22	classes	class	NOUN
fbem-26814	77	23	such	such	ADJ
fbem-26814	77	24	as	as	ADP
fbem-26814	77	25	equities	equity	NOUN
fbem-26814	77	26	and	and	CCONJ
fbem-26814	77	27	commodities	commodity	NOUN
fbem-26814	77	28	,	,	PUNCT
fbem-26814	77	29	while	while	SCONJ
fbem-26814	77	30	currencies	currency	NOUN
fbem-26814	77	31	exhibit	exhibit	VERB
fbem-26814	77	32	a	a	DET
fbem-26814	77	33	moderately	moderately	ADV
fbem-26814	77	34	choppy	choppy	ADJ
fbem-26814	77	35	nature	nature	NOUN
fbem-26814	77	36	.	.	PUNCT
fbem-26814	78	1	4.2	4.2	NUM
fbem-26814	78	2	.	.	PUNCT
fbem-26814	78	3	unit	unit	NOUN
fbem-26814	78	4	root	root	PROPN
fbem-26814	78	5	test	test	NOUN
fbem-26814	78	6	using	use	VERB
fbem-26814	78	7	the	the	DET
fbem-26814	78	8	extended	extended	ADJ
fbem-26814	78	9	dickey	dickey	NOUN
fbem-26814	78	10	-	-	PUNCT
fbem-26814	78	11	fuller	full	ADJ
fbem-26814	78	12	(	(	PUNCT
fbem-26814	78	13	adf	adf	NOUN
fbem-26814	78	14	)	)	PUNCT
fbem-26814	78	15	test	test	NOUN
fbem-26814	78	16	and	and	CCONJ
fbem-26814	78	17	kpss	kpss	PROPN
fbem-26814	78	18	(	(	PUNCT
fbem-26814	78	19	kwiatkowski	kwiatkowski	PROPN
fbem-26814	78	20	-	-	PUNCT
fbem-26814	78	21	phillips	phillip	NOUN
fbem-26814	78	22	-	-	PUNCT
fbem-26814	78	23	schmidt	schmidt	ADJ
fbem-26814	78	24	-	-	PUNCT
fbem-26814	78	25	shin	shin	NOUN
fbem-26814	78	26	)	)	PUNCT
fbem-26814	78	27	test	test	NOUN
fbem-26814	78	28	,	,	PUNCT
fbem-26814	78	29	we	we	PRON
fbem-26814	78	30	evaluate	evaluate	VERB
fbem-26814	78	31	the	the	DET
fbem-26814	78	32	stability	stability	NOUN
fbem-26814	78	33	properties	property	NOUN
fbem-26814	78	34	of	of	ADP
fbem-26814	78	35	the	the	DET
fbem-26814	78	36	time	time	NOUN
fbem-26814	78	37	series	series	PROPN
fbem-26814	78	38	data	data	PROPN
fbem-26814	78	39	.	.	PUNCT
fbem-26814	79	1	it	it	PRON
fbem-26814	79	2	is	be	AUX
fbem-26814	79	3	found	find	VERB
fbem-26814	79	4	that	that	SCONJ
fbem-26814	79	5	the	the	DET
fbem-26814	79	6	original	original	ADJ
fbem-26814	79	7	sequence	sequence	NOUN
fbem-26814	79	8	fails	fail	VERB
fbem-26814	79	9	to	to	PART
fbem-26814	79	10	achieve	achieve	VERB
fbem-26814	79	11	significance	significance	NOUN
fbem-26814	79	12	in	in	ADP
fbem-26814	79	13	negating	negate	VERB
fbem-26814	79	14	the	the	DET
fbem-26814	79	15	null	null	ADJ
fbem-26814	79	16	hypothesis	hypothesis	NOUN
fbem-26814	79	17	of	of	ADP
fbem-26814	79	18	unit	unit	NOUN
fbem-26814	79	19	root	root	NOUN
fbem-26814	79	20	,	,	PUNCT
fbem-26814	79	21	but	but	CCONJ
fbem-26814	79	22	after	after	ADP
fbem-26814	79	23	the	the	DET
fbem-26814	79	24	first	first	ADJ
fbem-26814	79	25	difference	difference	NOUN
fbem-26814	79	26	,	,	PUNCT
fbem-26814	79	27	the	the	DET
fbem-26814	79	28	sequence	sequence	NOUN
fbem-26814	79	29	shows	show	VERB
fbem-26814	79	30	obvious	obvious	ADJ
fbem-26814	79	31	stationarity	stationarity	NOUN
fbem-26814	79	32	.	.	PUNCT
fbem-26814	80	1	this	this	DET
fbem-26814	80	2	observation	observation	NOUN
fbem-26814	80	3	suggests	suggest	VERB
fbem-26814	80	4	that	that	SCONJ
fbem-26814	80	5	subsequent	subsequent	ADJ
fbem-26814	80	6	analyses	analysis	NOUN
fbem-26814	80	7	should	should	AUX
fbem-26814	80	8	be	be	AUX
fbem-26814	80	9	conducted	conduct	VERB
fbem-26814	80	10	on	on	ADP
fbem-26814	80	11	the	the	DET
fbem-26814	80	12	differentially	differentially	ADV
fbem-26814	80	13	corrected	correct	VERB
fbem-26814	80	14	series	series	NOUN
fbem-26814	80	15	to	to	PART
fbem-26814	80	16	reveal	reveal	VERB
fbem-26814	80	17	more	more	ADJ
fbem-26814	80	18	about	about	ADP
fbem-26814	80	19	the	the	DET
fbem-26814	80	20	deep	deep	ADJ
fbem-26814	80	21	structure	structure	NOUN
fbem-26814	80	22	.	.	PUNCT
fbem-26814	81	1	the	the	DET
fbem-26814	81	2	engle	engle	PROPN
fbem-26814	81	3	-	-	PUNCT
fbem-26814	81	4	granger	granger	PROPN
fbem-26814	81	5	two	two	NUM
fbem-26814	81	6	-	-	PUNCT
fbem-26814	81	7	stage	stage	NOUN
fbem-26814	81	8	method	method	NOUN
fbem-26814	81	9	and	and	CCONJ
fbem-26814	81	10	johansen	johansen	PROPN
fbem-26814	81	11	co	co	PROPN
fbem-26814	81	12	-	-	NOUN
fbem-26814	81	13	integration	integration	NOUN
fbem-26814	81	14	test	test	NOUN
fbem-26814	81	15	are	be	AUX
fbem-26814	81	16	used	use	VERB
fbem-26814	81	17	to	to	PART
fbem-26814	81	18	investigate	investigate	VERB
fbem-26814	81	19	the	the	DET
fbem-26814	81	20	potential	potential	ADJ
fbem-26814	81	21	persistent	persistent	ADJ
fbem-26814	81	22	equilibrium	equilibrium	NOUN
fbem-26814	81	23	relationship	relationship	NOUN
fbem-26814	81	24	between	between	ADP
fbem-26814	81	25	non	non	ADJ
fbem-26814	81	26	-	-	ADJ
fbem-26814	81	27	stationary	stationary	ADJ
fbem-26814	81	28	sequences	sequence	NOUN
fbem-26814	81	29	.	.	PUNCT
fbem-26814	82	1	the	the	DET
fbem-26814	82	2	results	result	NOUN
fbem-26814	82	3	of	of	ADP
fbem-26814	82	4	such	such	ADJ
fbem-26814	82	5	tests	test	NOUN
fbem-26814	82	6	show	show	VERB
fbem-26814	82	7	that	that	SCONJ
fbem-26814	82	8	several	several	ADJ
fbem-26814	82	9	variable	variable	ADJ
fbem-26814	82	10	mean	mean	NOUN
fbem-26814	82	11	value	value	NOUN
fbem-26814	82	12	standard	standard	ADJ
fbem-26814	82	13	deviation	deviation	NOUN
fbem-26814	82	14	minimum	minimum	NOUN
fbem-26814	82	15	value	value	NOUN
fbem-26814	82	16	maximum	maximum	ADJ
fbem-26814	82	17	value	value	NOUN
fbem-26814	82	18	stock	stock	NOUN
fbem-26814	82	19	index	index	NOUN
fbem-26814	82	20	3000.00	3000.00	NUM
fbem-26814	82	21	500.00	500.00	NUM
fbem-26814	82	22	2000.00	2000.00	NUM
fbem-26814	82	23	4000.00	4000.00	NUM
fbem-26814	82	24	bond	bond	NOUN
fbem-26814	82	25	yield	yield	NOUN
fbem-26814	82	26	2.50	2.50	NUM
fbem-26814	82	27	%	%	NOUN
fbem-26814	82	28	0.50	0.50	NUM
fbem-26814	82	29	%	%	NOUN
fbem-26814	82	30	1.00	1.00	NUM
fbem-26814	82	31	%	%	NOUN
fbem-26814	82	32	4.00	4.00	NUM
fbem-26814	82	33	%	%	NOUN
fbem-26814	82	34	commodity	commodity	NOUN
fbem-26814	82	35	price	price	NOUN
fbem-26814	82	36	100.00	100.00	NUM
fbem-26814	82	37	20.00	20.00	NUM
fbem-26814	82	38	60.00	60.00	NUM
fbem-26814	82	39	150.00	150.00	NUM
fbem-26814	82	40	exchange	exchange	NOUN
fbem-26814	82	41	rate	rate	NOUN
fbem-26814	82	42	movement	movement	NOUN
fbem-26814	82	43	-0.01	-0.01	NUM
fbem-26814	82	44	%	%	NOUN
fbem-26814	82	45	0.02	0.02	NUM
fbem-26814	82	46	%	%	NOUN
fbem-26814	82	47	-0.05	-0.05	NUM
fbem-26814	82	48	%	%	NOUN
fbem-26814	82	49	0.03	0.03	NUM
fbem-26814	82	50	%	%	NOUN
fbem-26814	82	51	98	98	NUM
fbem-26814	82	52	combinations	combination	NOUN
fbem-26814	82	53	of	of	ADP
fbem-26814	82	54	variables	variable	NOUN
fbem-26814	82	55	exhibit	exhibit	VERB
fbem-26814	82	56	a	a	DET
fbem-26814	82	57	long	long	ADJ
fbem-26814	82	58	-	-	PUNCT
fbem-26814	82	59	term	term	NOUN
fbem-26814	82	60	co	co	NOUN
fbem-26814	82	61	-	-	NOUN
fbem-26814	82	62	integration	integration	NOUN
fbem-26814	82	63	effect	effect	NOUN
fbem-26814	82	64	,	,	PUNCT
fbem-26814	82	65	and	and	CCONJ
fbem-26814	82	66	thus	thus	ADV
fbem-26814	82	67	a	a	DET
fbem-26814	82	68	long	long	ADJ
fbem-26814	82	69	-	-	PUNCT
fbem-26814	82	70	term	term	NOUN
fbem-26814	82	71	and	and	CCONJ
fbem-26814	82	72	stable	stable	ADJ
fbem-26814	82	73	interaction	interaction	NOUN
fbem-26814	82	74	exists	exist	VERB
fbem-26814	82	75	between	between	ADP
fbem-26814	82	76	these	these	DET
fbem-26814	82	77	sequences	sequence	NOUN
fbem-26814	82	78	.	.	PUNCT
fbem-26814	83	1	4.3	4.3	NUM
fbem-26814	83	2	.	.	PUNCT
fbem-26814	83	3	vector	vector	NOUN
fbem-26814	83	4	autoregressive	autoregressive	ADJ
fbem-26814	83	5	model	model	NOUN
fbem-26814	83	6	(	(	PUNCT
fbem-26814	83	7	var	var	NOUN
fbem-26814	83	8	)	)	PUNCT
fbem-26814	83	9	using	use	VERB
fbem-26814	83	10	cointegration	cointegration	NOUN
fbem-26814	83	11	test	test	NOUN
fbem-26814	83	12	results	result	NOUN
fbem-26814	83	13	,	,	PUNCT
fbem-26814	83	14	we	we	PRON
fbem-26814	83	15	built	build	VERB
fbem-26814	83	16	a	a	DET
fbem-26814	83	17	var	var	NOUN
fbem-26814	83	18	framework	framework	NOUN
fbem-26814	83	19	to	to	PART
fbem-26814	83	20	analyze	analyze	VERB
fbem-26814	83	21	asset	asset	NOUN
fbem-26814	83	22	price	price	NOUN
fbem-26814	83	23	fluctuations	fluctuation	NOUN
fbem-26814	83	24	and	and	CCONJ
fbem-26814	83	25	the	the	DET
fbem-26814	83	26	foreign	foreign	ADJ
fbem-26814	83	27	exchange	exchange	NOUN
fbem-26814	83	28	market	market	NOUN
fbem-26814	83	29	's	's	PART
fbem-26814	83	30	interaction	interaction	NOUN
fbem-26814	83	31	.	.	PUNCT
fbem-26814	84	1	the	the	DET
fbem-26814	84	2	model	model	NOUN
fbem-26814	84	3	includes	include	VERB
fbem-26814	84	4	stock	stock	NOUN
fbem-26814	84	5	indices	index	NOUN
fbem-26814	84	6	,	,	PUNCT
fbem-26814	84	7	bond	bond	NOUN
fbem-26814	84	8	yields	yield	NOUN
fbem-26814	84	9	,	,	PUNCT
fbem-26814	84	10	commodity	commodity	NOUN
fbem-26814	84	11	prices	price	NOUN
fbem-26814	84	12	,	,	PUNCT
fbem-26814	84	13	and	and	CCONJ
fbem-26814	84	14	exchange	exchange	NOUN
fbem-26814	84	15	rates	rate	NOUN
fbem-26814	84	16	.	.	PUNCT
fbem-26814	85	1	table	table	NOUN
fbem-26814	85	2	2	2	NUM
fbem-26814	85	3	details	detail	NOUN
fbem-26814	85	4	the	the	DET
fbem-26814	85	5	processes	process	NOUN
fbem-26814	85	6	and	and	CCONJ
fbem-26814	85	7	outputs	output	NOUN
fbem-26814	85	8	for	for	ADP
fbem-26814	85	9	determining	determine	VERB
fbem-26814	85	10	the	the	DET
fbem-26814	85	11	optimal	optimal	ADJ
fbem-26814	85	12	lag	lag	NOUN
fbem-26814	85	13	order	order	NOUN
fbem-26814	85	14	,	,	PUNCT
fbem-26814	85	15	crucial	crucial	ADJ
fbem-26814	85	16	for	for	ADP
fbem-26814	85	17	explaining	explain	VERB
fbem-26814	85	18	variable	variable	ADJ
fbem-26814	85	19	endogeneity	endogeneity	NOUN
fbem-26814	85	20	and	and	CCONJ
fbem-26814	85	21	time	time	NOUN
fbem-26814	85	22	series	series	PROPN
fbem-26814	85	23	lag	lag	NOUN
fbem-26814	85	24	effects	effect	NOUN
fbem-26814	85	25	.	.	PUNCT
fbem-26814	86	1	table	table	NOUN
fbem-26814	86	2	2	2	NUM
fbem-26814	86	3	.	.	NOUN
fbem-26814	86	4	var	var	PROPN
fbem-26814	86	5	model	model	PROPN
fbem-26814	86	6	estimation	estimation	NOUN
fbem-26814	86	7	results	result	VERB
fbem-26814	86	8	variable	variable	ADJ
fbem-26814	86	9	estimation	estimation	NOUN
fbem-26814	86	10	coefficient	coefficient	NOUN
fbem-26814	86	11	standard	standard	ADJ
fbem-26814	86	12	error	error	NOUN
fbem-26814	86	13	tvalue	tvalue	NOUN
fbem-26814	86	14	p	p	NOUN
fbem-26814	86	15	-	-	PUNCT
fbem-26814	86	16	value	value	NOUN
fbem-26814	86	17	stock	stock	NOUN
fbem-26814	86	18	index	index	NOUN
fbem-26814	86	19	0.50	0.50	NUM
fbem-26814	86	20	0.10	0.10	NUM
fbem-26814	86	21	5.00	5.00	NUM
fbem-26814	86	22	0.0001	0.0001	NUM
fbem-26814	86	23	bond	bond	NOUN
fbem-26814	86	24	yield	yield	NOUN
fbem-26814	86	25	-0.20	-0.20	NUM
fbem-26814	86	26	0.05	0.05	NUM
fbem-26814	86	27	-4.00	-4.00	NUM
fbem-26814	86	28	0.0005	0.0005	NUM
fbem-26814	86	29	commodity	commodity	NOUN
fbem-26814	86	30	price	price	NOUN
fbem-26814	86	31	0.30	0.30	NUM
fbem-26814	86	32	0.07	0.07	NUM
fbem-26814	86	33	4.29	4.29	NUM
fbem-26814	86	34	0.0008	0.0008	NUM
fbem-26814	86	35	exchange	exchange	NOUN
fbem-26814	86	36	rate	rate	NOUN
fbem-26814	86	37	movement	movement	NOUN
fbem-26814	86	38	0.15	0.15	NUM
fbem-26814	86	39	0.03	0.03	NUM
fbem-26814	86	40	5.00	5.00	NUM
fbem-26814	86	41	0.0001	0.0001	NUM
fbem-26814	86	42	in	in	ADP
fbem-26814	86	43	the	the	DET
fbem-26814	86	44	odel	odel	ADJ
fbem-26814	86	45	framework	framework	NOUN
fbem-26814	86	46	of	of	ADP
fbem-26814	86	47	vector	vector	NOUN
fbem-26814	86	48	autoregression	autoregression	NOUN
fbem-26814	86	49	(	(	PUNCT
fbem-26814	86	50	var	var	NOUN
fbem-26814	86	51	)	)	PUNCT
fbem-26814	86	52	model	model	NOUN
fbem-26814	86	53	of	of	ADP
fbem-26814	86	54	variability	variability	NOUN
fbem-26814	86	55	cointegration	cointegration	NOUN
fbem-26814	86	56	analysis	analysis	NOUN
fbem-26814	86	57	,	,	PUNCT
fbem-26814	86	58	the	the	DET
fbem-26814	86	59	stock	stock	NOUN
fbem-26814	86	60	market	market	NOUN
fbem-26814	86	61	index	index	NOUN
fbem-26814	86	62	shows	show	VERB
fbem-26814	86	63	an	an	DET
fbem-26814	86	64	estimated	estimate	VERB
fbem-26814	86	65	correlation	correlation	NOUN
fbem-26814	86	66	factor	factor	NOUN
fbem-26814	86	67	of	of	ADP
fbem-26814	86	68	0.50	0.50	NUM
fbem-26814	86	69	and	and	CCONJ
fbem-26814	86	70	a	a	DET
fbem-26814	86	71	stable	stable	ADJ
fbem-26814	86	72	positive	positive	ADJ
fbem-26814	86	73	correlation	correlation	NOUN
fbem-26814	86	74	with	with	ADP
fbem-26814	86	75	other	other	ADJ
fbem-26814	86	76	factors	factor	NOUN
fbem-26814	86	77	in	in	ADP
fbem-26814	86	78	the	the	DET
fbem-26814	86	79	system	system	NOUN
fbem-26814	86	80	.	.	PUNCT
fbem-26814	87	1	within	within	ADP
fbem-26814	87	2	the	the	DET
fbem-26814	87	3	estimation	estimation	NOUN
fbem-26814	87	4	error	error	NOUN
fbem-26814	87	5	boundary	boundary	NOUN
fbem-26814	87	6	of	of	ADP
fbem-26814	87	7	0.10	0.10	NUM
fbem-26814	87	8	,	,	PUNCT
fbem-26814	87	9	the	the	DET
fbem-26814	87	10	t	t	NOUN
fbem-26814	87	11	ratio	ratio	NOUN
fbem-26814	87	12	is	be	AUX
fbem-26814	87	13	stable	stable	ADJ
fbem-26814	87	14	at	at	ADP
fbem-26814	87	15	the	the	DET
fbem-26814	87	16	peak	peak	NOUN
fbem-26814	87	17	of	of	ADP
fbem-26814	87	18	5.00	5.00	NUM
fbem-26814	87	19	,	,	PUNCT
fbem-26814	87	20	accompanied	accompany	VERB
fbem-26814	87	21	by	by	ADP
fbem-26814	87	22	a	a	DET
fbem-26814	87	23	negligible	negligible	ADJ
fbem-26814	87	24	pvalue	pvalue	NOUN
fbem-26814	87	25	(	(	PUNCT
fbem-26814	87	26	0.0001	0.0001	NUM
fbem-26814	87	27	)	)	PUNCT
fbem-26814	87	28	.	.	PUNCT
fbem-26814	88	1	this	this	PRON
fbem-26814	88	2	is	be	AUX
fbem-26814	88	3	statistically	statistically	ADV
fbem-26814	88	4	significant	significant	ADJ
fbem-26814	88	5	within	within	ADP
fbem-26814	88	6	the	the	DET
fbem-26814	88	7	99.99	99.99	NUM
fbem-26814	88	8	%	%	NOUN
fbem-26814	88	9	confidence	confidence	NOUN
fbem-26814	88	10	interval	interval	NOUN
fbem-26814	88	11	.	.	PUNCT
fbem-26814	89	1	the	the	DET
fbem-26814	89	2	bond	bond	NOUN
fbem-26814	89	3	yield	yield	NOUN
fbem-26814	89	4	stream	stream	NOUN
fbem-26814	89	5	,	,	PUNCT
fbem-26814	89	6	however	however	ADV
fbem-26814	89	7	,	,	PUNCT
fbem-26814	89	8	exhibits	exhibit	VERB
fbem-26814	89	9	a	a	DET
fbem-26814	89	10	negative	negative	ADJ
fbem-26814	89	11	correlation	correlation	NOUN
fbem-26814	89	12	characteristic	characteristic	NOUN
fbem-26814	89	13	,	,	PUNCT
fbem-26814	89	14	with	with	ADP
fbem-26814	89	15	a	a	DET
fbem-26814	89	16	negative	negative	ADJ
fbem-26814	89	17	correlation	correlation	NOUN
fbem-26814	89	18	parameter	parameter	NOUN
fbem-26814	89	19	estimated	estimate	VERB
fbem-26814	89	20	at	at	ADP
fbem-26814	89	21	-0.20	-0.20	NUM
fbem-26814	89	22	,	,	PUNCT
fbem-26814	89	23	with	with	ADP
fbem-26814	89	24	a	a	DET
fbem-26814	89	25	small	small	ADJ
fbem-26814	89	26	standard	standard	ADJ
fbem-26814	89	27	error	error	NOUN
fbem-26814	89	28	margin	margin	NOUN
fbem-26814	89	29	of	of	ADP
fbem-26814	89	30	0.05	0.05	NUM
fbem-26814	89	31	,	,	PUNCT
fbem-26814	89	32	resulting	result	VERB
fbem-26814	89	33	in	in	ADP
fbem-26814	89	34	a	a	DET
fbem-26814	89	35	t	t	NOUN
fbem-26814	89	36	-	-	PUNCT
fbem-26814	89	37	statistic	statistic	NOUN
fbem-26814	89	38	reading	reading	NOUN
fbem-26814	89	39	of	of	ADP
fbem-26814	89	40	-4.00	-4.00	NUM
fbem-26814	89	41	,	,	PUNCT
fbem-26814	89	42	further	far	ADV
fbem-26814	89	43	confirming	confirm	VERB
fbem-26814	89	44	its	its	PRON
fbem-26814	89	45	significance	significance	NOUN
fbem-26814	89	46	at	at	ADP
fbem-26814	89	47	the	the	DET
fbem-26814	89	48	99.95	99.95	NUM
fbem-26814	89	49	%	%	NOUN
fbem-26814	89	50	certainty	certainty	NOUN
fbem-26814	89	51	level	level	NOUN
fbem-26814	89	52	.	.	PUNCT
fbem-26814	90	1	commodity	commodity	NOUN
fbem-26814	90	2	pricing	pricing	NOUN
fbem-26814	90	3	trends	trend	NOUN
fbem-26814	90	4	show	show	VERB
fbem-26814	90	5	a	a	DET
fbem-26814	90	6	positive	positive	ADJ
fbem-26814	90	7	alliance	alliance	NOUN
fbem-26814	90	8	,	,	PUNCT
fbem-26814	90	9	marked	mark	VERB
fbem-26814	90	10	by	by	ADP
fbem-26814	90	11	an	an	DET
fbem-26814	90	12	estimated	estimate	VERB
fbem-26814	90	13	coefficient	coefficient	NOUN
fbem-26814	90	14	of	of	ADP
fbem-26814	90	15	0.30	0.30	NUM
fbem-26814	90	16	,	,	PUNCT
fbem-26814	90	17	a	a	DET
fbem-26814	90	18	t	t	NOUN
fbem-26814	90	19	evaluation	evaluation	NOUN
fbem-26814	90	20	of	of	ADP
fbem-26814	90	21	4.29	4.29	NUM
fbem-26814	90	22	within	within	ADP
fbem-26814	90	23	a	a	DET
fbem-26814	90	24	standard	standard	ADJ
fbem-26814	90	25	deviation	deviation	NOUN
fbem-26814	90	26	of	of	ADP
fbem-26814	90	27	0.07	0.07	NUM
fbem-26814	90	28	error	error	NOUN
fbem-26814	90	29	,	,	PUNCT
fbem-26814	90	30	and	and	CCONJ
fbem-26814	90	31	a	a	DET
fbem-26814	90	32	slight	slight	ADJ
fbem-26814	90	33	improvement	improvement	NOUN
fbem-26814	90	34	in	in	ADP
fbem-26814	90	35	the	the	DET
fbem-26814	90	36	p	p	NOUN
fbem-26814	90	37	value	value	NOUN
fbem-26814	90	38	to	to	ADP
fbem-26814	90	39	0.0008	0.0008	NUM
fbem-26814	90	40	,	,	PUNCT
fbem-26814	90	41	further	far	ADV
fbem-26814	90	42	cementing	cement	VERB
fbem-26814	90	43	its	its	PRON
fbem-26814	90	44	significant	significant	ADJ
fbem-26814	90	45	position	position	NOUN
fbem-26814	90	46	in	in	ADP
fbem-26814	90	47	the	the	DET
fbem-26814	90	48	99.92	99.92	NUM
fbem-26814	90	49	%	%	NOUN
fbem-26814	90	50	confidence	confidence	NOUN
fbem-26814	90	51	phase	phase	NOUN
fbem-26814	90	52	.	.	PUNCT
fbem-26814	91	1	finally	finally	ADV
fbem-26814	91	2	,	,	PUNCT
fbem-26814	91	3	the	the	DET
fbem-26814	91	4	positive	positive	ADJ
fbem-26814	91	5	coefficient	coefficient	NOUN
fbem-26814	91	6	of	of	ADP
fbem-26814	91	7	the	the	DET
fbem-26814	91	8	currency	currency	NOUN
fbem-26814	91	9	exchange	exchange	NOUN
fbem-26814	91	10	ratio	ratio	NOUN
fbem-26814	91	11	behaves	behave	VERB
fbem-26814	91	12	as	as	ADP
fbem-26814	91	13	0.15	0.15	NUM
fbem-26814	91	14	,	,	PUNCT
fbem-26814	91	15	wrapped	wrap	VERB
fbem-26814	91	16	within	within	ADP
fbem-26814	91	17	a	a	DET
fbem-26814	91	18	0.03	0.03	NUM
fbem-26814	91	19	margin	margin	NOUN
fbem-26814	91	20	of	of	ADP
fbem-26814	91	21	error	error	NOUN
fbem-26814	91	22	,	,	PUNCT
fbem-26814	91	23	and	and	CCONJ
fbem-26814	91	24	its	its	PRON
fbem-26814	91	25	t	t	NOUN
fbem-26814	91	26	ratio	ratio	NOUN
fbem-26814	91	27	surges	surge	VERB
fbem-26814	91	28	to	to	ADP
fbem-26814	91	29	5.00	5.00	NUM
fbem-26814	91	30	,	,	PUNCT
fbem-26814	91	31	accompanied	accompany	VERB
fbem-26814	91	32	by	by	ADP
fbem-26814	91	33	an	an	DET
fbem-26814	91	34	irrefutable	irrefutable	ADJ
fbem-26814	91	35	p	p	NOUN
fbem-26814	91	36	-	-	PUNCT
fbem-26814	91	37	value	value	NOUN
fbem-26814	91	38	(	(	PUNCT
fbem-26814	91	39	0.0001	0.0001	NUM
fbem-26814	91	40	)	)	PUNCT
fbem-26814	91	41	,	,	PUNCT
fbem-26814	91	42	symbolizing	symbolize	VERB
fbem-26814	91	43	an	an	DET
fbem-26814	91	44	undisputed	undisputed	ADJ
fbem-26814	91	45	99.99	99.99	NUM
fbem-26814	91	46	%	%	NOUN
fbem-26814	91	47	significance	significance	NOUN
fbem-26814	91	48	level	level	NOUN
fbem-26814	91	49	.	.	PUNCT
fbem-26814	92	1	the	the	DET
fbem-26814	92	2	insights	insight	NOUN
fbem-26814	92	3	from	from	ADP
fbem-26814	92	4	these	these	DET
fbem-26814	92	5	multivariate	multivariate	NOUN
fbem-26814	92	6	analyses	analysis	NOUN
fbem-26814	92	7	reveal	reveal	VERB
fbem-26814	92	8	the	the	DET
fbem-26814	92	9	heterogeneity	heterogeneity	NOUN
fbem-26814	92	10	of	of	ADP
fbem-26814	92	11	financial	financial	ADJ
fbem-26814	92	12	variables	variable	NOUN
fbem-26814	92	13	and	and	CCONJ
fbem-26814	92	14	their	their	PRON
fbem-26814	92	15	different	different	ADJ
fbem-26814	92	16	levels	level	NOUN
fbem-26814	92	17	of	of	ADP
fbem-26814	92	18	significance	significance	NOUN
fbem-26814	92	19	.	.	PUNCT
fbem-26814	93	1	4.4	4.4	NUM
fbem-26814	93	2	.	.	PUNCT
fbem-26814	94	1	granger	granger	PROPN
fbem-26814	94	2	causality	causality	PROPN
fbem-26814	94	3	test	test	NOUN
fbem-26814	94	4	granger	granger	PROPN
fbem-26814	94	5	causality	causality	PROPN
fbem-26814	94	6	test	test	NOUN
fbem-26814	94	7	method	method	NOUN
fbem-26814	94	8	,	,	PUNCT
fbem-26814	94	9	as	as	ADP
fbem-26814	94	10	a	a	DET
fbem-26814	94	11	sharp	sharp	ADJ
fbem-26814	94	12	tool	tool	NOUN
fbem-26814	94	13	for	for	ADP
fbem-26814	94	14	temporal	temporal	ADJ
fbem-26814	94	15	correlation	correlation	NOUN
fbem-26814	94	16	assessment	assessment	NOUN
fbem-26814	94	17	,	,	PUNCT
fbem-26814	94	18	is	be	AUX
fbem-26814	94	19	adopted	adopt	VERB
fbem-26814	94	20	here	here	ADV
fbem-26814	94	21	to	to	PART
fbem-26814	94	22	study	study	VERB
fbem-26814	94	23	the	the	DET
fbem-26814	94	24	impact	impact	NOUN
fbem-26814	94	25	of	of	ADP
fbem-26814	94	26	asset	asset	NOUN
fbem-26814	94	27	value	value	NOUN
fbem-26814	94	28	fluctuations	fluctuation	NOUN
fbem-26814	94	29	in	in	ADP
fbem-26814	94	30	a	a	DET
fbem-26814	94	31	country	country	NOUN
fbem-26814	94	32	's	's	PART
fbem-26814	94	33	financial	financial	ADJ
fbem-26814	94	34	market	market	NOUN
fbem-26814	94	35	on	on	ADP
fbem-26814	94	36	the	the	DET
fbem-26814	94	37	forecasting	forecasting	NOUN
fbem-26814	94	38	efficiency	efficiency	NOUN
fbem-26814	94	39	of	of	ADP
fbem-26814	94	40	its	its	PRON
fbem-26814	94	41	exchange	exchange	NOUN
fbem-26814	94	42	rate	rate	NOUN
fbem-26814	94	43	system	system	NOUN
fbem-26814	94	44	.	.	PUNCT
fbem-26814	95	1	at	at	ADP
fbem-26814	95	2	the	the	DET
fbem-26814	95	3	same	same	ADJ
fbem-26814	95	4	time	time	NOUN
fbem-26814	95	5	,	,	PUNCT
fbem-26814	95	6	it	it	PRON
fbem-26814	95	7	also	also	ADV
fbem-26814	95	8	explores	explore	VERB
fbem-26814	95	9	the	the	DET
fbem-26814	95	10	predictive	predictive	ADJ
fbem-26814	95	11	function	function	NOUN
fbem-26814	95	12	of	of	ADP
fbem-26814	95	13	changes	change	NOUN
fbem-26814	95	14	in	in	ADP
fbem-26814	95	15	exchange	exchange	NOUN
fbem-26814	95	16	rate	rate	NOUN
fbem-26814	95	17	market	market	NOUN
fbem-26814	95	18	conditions	condition	NOUN
fbem-26814	95	19	on	on	ADP
fbem-26814	95	20	capital	capital	NOUN
fbem-26814	95	21	value	value	NOUN
fbem-26814	95	22	fluctuations	fluctuation	NOUN
fbem-26814	95	23	,	,	PUNCT
fbem-26814	95	24	and	and	CCONJ
fbem-26814	95	25	further	far	ADV
fbem-26814	95	26	explores	explore	NOUN
fbem-26814	95	27	the	the	DET
fbem-26814	95	28	causal	causal	NOUN
fbem-26814	95	29	chain	chain	NOUN
fbem-26814	95	30	reaction	reaction	NOUN
fbem-26814	95	31	between	between	ADP
fbem-26814	95	32	each	each	DET
fbem-26814	95	33	other	other	ADJ
fbem-26814	95	34	.	.	PUNCT
fbem-26814	96	1	first	first	ADV
fbem-26814	96	2	,	,	PUNCT
fbem-26814	96	3	we	we	PRON
fbem-26814	96	4	need	need	VERB
fbem-26814	96	5	to	to	PART
fbem-26814	96	6	prepare	prepare	VERB
fbem-26814	96	7	the	the	DET
fbem-26814	96	8	time	time	NOUN
fbem-26814	96	9	series	series	PROPN
fbem-26814	96	10	data	datum	NOUN
fbem-26814	96	11	that	that	PRON
fbem-26814	96	12	has	have	AUX
fbem-26814	96	13	been	be	AUX
fbem-26814	96	14	preprocessed	preprocesse	VERB
fbem-26814	96	15	.	.	PUNCT
fbem-26814	97	1	these	these	PRON
fbem-26814	97	2	include	include	VERB
fbem-26814	97	3	variables	variable	NOUN
fbem-26814	97	4	such	such	ADJ
fbem-26814	97	5	as	as	ADP
fbem-26814	97	6	stock	stock	NOUN
fbem-26814	97	7	indices	index	NOUN
fbem-26814	97	8	,	,	PUNCT
fbem-26814	97	9	bond	bond	NOUN
fbem-26814	97	10	yields	yield	NOUN
fbem-26814	97	11	,	,	PUNCT
fbem-26814	97	12	commodity	commodity	NOUN
fbem-26814	97	13	prices	price	NOUN
fbem-26814	97	14	and	and	CCONJ
fbem-26814	97	15	exchange	exchange	NOUN
fbem-26814	97	16	rate	rate	NOUN
fbem-26814	97	17	movements	movement	NOUN
fbem-26814	97	18	.	.	PUNCT
fbem-26814	98	1	the	the	DET
fbem-26814	98	2	causality	causality	NOUN
fbem-26814	98	3	test	test	NOUN
fbem-26814	98	4	model	model	NOUN
fbem-26814	98	5	is	be	AUX
fbem-26814	98	6	set	set	VERB
fbem-26814	98	7	up	up	ADP
fbem-26814	98	8	in	in	ADP
fbem-26814	98	9	two	two	NUM
fbem-26814	98	10	directions	direction	NOUN
fbem-26814	98	11	:	:	PUNCT
fbem-26814	98	12	1	1	X
fbem-26814	98	13	)	)	PUNCT
fbem-26814	98	14	model	model	NOUN
fbem-26814	98	15	a	a	PRON
fbem-26814	98	16	:	:	PUNCT
fbem-26814	98	17	tests	test	NOUN
fbem-26814	98	18	whether	whether	SCONJ
fbem-26814	98	19	asset	asset	NOUN
fbem-26814	98	20	price	price	NOUN
fbem-26814	98	21	fluctuations	fluctuation	NOUN
fbem-26814	98	22	have	have	AUX
fbem-26814	98	23	predictive	predictive	ADJ
fbem-26814	98	24	power	power	NOUN
fbem-26814	98	25	to	to	PART
fbem-26814	98	26	exchange	exchange	VERB
fbem-26814	98	27	rate	rate	NOUN
fbem-26814	98	28	fluctuations	fluctuation	NOUN
fbem-26814	98	29	.	.	PUNCT
fbem-26814	99	1	2	2	X
fbem-26814	99	2	)	)	PUNCT
fbem-26814	99	3	model	model	NOUN
fbem-26814	99	4	b	b	NOUN
fbem-26814	99	5	:	:	PUNCT
fbem-26814	99	6	test	test	VERB
fbem-26814	99	7	whether	whether	SCONJ
fbem-26814	99	8	exchange	exchange	NOUN
fbem-26814	99	9	rate	rate	NOUN
fbem-26814	99	10	changes	change	NOUN
fbem-26814	99	11	have	have	VERB
fbem-26814	99	12	the	the	DET
fbem-26814	99	13	ability	ability	NOUN
fbem-26814	99	14	to	to	PART
fbem-26814	99	15	predict	predict	VERB
fbem-26814	99	16	asset	asset	NOUN
fbem-26814	99	17	price	price	NOUN
fbem-26814	99	18	fluctuations	fluctuation	NOUN
fbem-26814	99	19	.	.	PUNCT
fbem-26814	100	1	both	both	DET
fbem-26814	100	2	models	model	NOUN
fbem-26814	100	3	can	can	AUX
fbem-26814	100	4	be	be	AUX
fbem-26814	100	5	represented	represent	VERB
fbem-26814	100	6	as	as	ADP
fbem-26814	100	7	vector	vector	NOUN
fbem-26814	100	8	autoregressive	autoregressive	ADJ
fbem-26814	100	9	models	model	NOUN
fbem-26814	100	10	(	(	PUNCT
fbem-26814	100	11	var	var	NOUN
fbem-26814	100	12	)	)	PUNCT
fbem-26814	100	13	.	.	PUNCT
fbem-26814	101	1	for	for	ADP
fbem-26814	101	2	example	example	NOUN
fbem-26814	101	3	,	,	PUNCT
fbem-26814	101	4	for	for	ADP
fbem-26814	101	5	model	model	NOUN
fbem-26814	101	6	a	a	X
fbem-26814	101	7	,	,	PUNCT
fbem-26814	101	8	we	we	PRON
fbem-26814	101	9	set	set	VERB
fbem-26814	101	10	up	up	ADP
fbem-26814	101	11	a	a	DET
fbem-26814	101	12	var(p	var(p	NOUN
fbem-26814	101	13	)	)	PUNCT
fbem-26814	101	14	model	model	NOUN
fbem-26814	101	15	of	of	ADP
fbem-26814	101	16	the	the	DET
fbem-26814	101	17	following	follow	VERB
fbem-26814	101	18	form	form	NOUN
fbem-26814	101	19	:	:	PUNCT
fbem-26814	101	20	𝑦𝑡	𝑦𝑡	PROPN
fbem-26814	101	21	=	=	SYM
fbem-26814	101	22	𝛼0	𝛼0	PROPN
fbem-26814	102	1	+	+	CCONJ
fbem-26814	102	2	∑	∑	PROPN
fbem-26814	102	3	𝛼𝑖	𝛼𝑖	PROPN
fbem-26814	102	4	𝑝	𝑝	PROPN
fbem-26814	102	5	𝑖=1	𝑖=1	PUNCT
fbem-26814	102	6	𝑦𝑡−𝑖	𝑦𝑡−𝑖	PROPN
fbem-26814	102	7	+	+	CCONJ
fbem-26814	102	8	∑	∑	PROPN
fbem-26814	102	9	𝛽𝑗𝑥𝑡−𝑗	𝛽𝑗𝑥𝑡−𝑗	PROPN
fbem-26814	102	10	𝑝	𝑝	NOUN
fbem-26814	102	11	𝑗=1	𝑗=1	PROPN
fbem-26814	102	12	+	+	CCONJ
fbem-26814	102	13	𝜖𝑡	𝜖𝑡	NOUN
fbem-26814	102	14	(	(	PUNCT
fbem-26814	102	15	1	1	NUM
fbem-26814	102	16	)	)	PUNCT
fbem-26814	102	17	where	where	SCONJ
fbem-26814	102	18	𝑦𝑡	𝑦𝑡	PROPN
fbem-26814	102	19	represents	represent	VERB
fbem-26814	102	20	exchange	exchange	NOUN
fbem-26814	102	21	rate	rate	NOUN
fbem-26814	102	22	movements	movement	NOUN
fbem-26814	102	23	,	,	PUNCT
fbem-26814	102	24	𝑥𝑡	𝑥𝑡	ADV
fbem-26814	102	25	represents	represent	VERB
fbem-26814	102	26	asset	asset	NOUN
fbem-26814	102	27	price	price	NOUN
fbem-26814	102	28	fluctuations	fluctuation	NOUN
fbem-26814	102	29	,	,	PUNCT
fbem-26814	102	30	and	and	CCONJ
fbem-26814	102	31	p	p	NOUN
fbem-26814	102	32	is	be	AUX
fbem-26814	102	33	the	the	DET
fbem-26814	102	34	optimal	optimal	ADJ
fbem-26814	102	35	lag	lag	NOUN
fbem-26814	102	36	order	order	NOUN
fbem-26814	102	37	,	,	PUNCT
fbem-26814	102	38	determined	determine	VERB
fbem-26814	102	39	by	by	ADP
fbem-26814	102	40	information	information	NOUN
fbem-26814	102	41	criteria	criterion	NOUN
fbem-26814	102	42	such	such	ADJ
fbem-26814	102	43	as	as	ADP
fbem-26814	102	44	aic	aic	PROPN
fbem-26814	102	45	or	or	CCONJ
fbem-26814	102	46	bic	bic	PROPN
fbem-26814	102	47	.	.	PUNCT
fbem-26814	103	1	for	for	ADP
fbem-26814	103	2	model	model	NOUN
fbem-26814	103	3	b	b	PROPN
fbem-26814	103	4	,	,	PUNCT
fbem-26814	103	5	similarly	similarly	ADV
fbem-26814	103	6	,	,	PUNCT
fbem-26814	103	7	we	we	PRON
fbem-26814	103	8	set	set	VERB
fbem-26814	103	9	:	:	PUNCT
fbem-26814	103	10	𝑥𝑡	𝑥𝑡	ADP
fbem-26814	103	11	=	=	PROPN
fbem-26814	103	12	𝛾0	𝛾0	PROPN
fbem-26814	103	13	+	+	CCONJ
fbem-26814	103	14	∑	∑	PUNCT
fbem-26814	103	15	𝛾𝑖	𝛾𝑖	ADV
fbem-26814	103	16	𝑝	𝑝	NOUN
fbem-26814	103	17	𝑖=1	𝑖=1	PROPN
fbem-26814	104	1	𝑥𝑖−𝑖	𝑥𝑖−𝑖	NOUN
fbem-26814	104	2	+	+	CCONJ
fbem-26814	104	3	∑	∑	ADV
fbem-26814	104	4	𝛿𝑗	𝛿𝑗	PROPN
fbem-26814	104	5	𝑝	𝑝	PROPN
fbem-26814	104	6	𝑗=1	𝑗=1	PROPN
fbem-26814	104	7	𝑦𝑡−𝑗	𝑦𝑡−𝑗	NOUN
fbem-26814	104	8	+	+	CCONJ
fbem-26814	104	9	𝜇𝑡	𝜇𝑡	VERB
fbem-26814	104	10	]	]	X
fbem-26814	104	11	(	(	PUNCT
fbem-26814	104	12	2	2	X
fbem-26814	104	13	)	)	PUNCT
fbem-26814	104	14	hypothesis	hypothesis	NOUN
fbem-26814	104	15	setting	set	VERB
fbem-26814	104	16	null	null	ADJ
fbem-26814	104	17	hypothesis	hypothesis	NOUN
fbem-26814	104	18	(	(	PUNCT
fbem-26814	104	19	h0	h0	PROPN
fbem-26814	104	20	):	):	PUNCT
fbem-26814	104	21	the	the	DET
fbem-26814	104	22	asset	asset	NOUN
fbem-26814	104	23	price	price	NOUN
fbem-26814	104	24	fluctuation	fluctuation	NOUN
fbem-26814	104	25	(	(	PUNCT
fbem-26814	104	26	𝑥	𝑥	NOUN
fbem-26814	104	27	)	)	PUNCT
fbem-26814	104	28	can	can	AUX
fbem-26814	104	29	not	not	PART
fbem-26814	104	30	be	be	AUX
fbem-26814	104	31	granger	granger	PROPN
fbem-26814	104	32	causal	causal	PROPN
fbem-26814	104	33	exchange	exchange	PROPN
fbem-26814	104	34	rate	rate	NOUN
fbem-26814	104	35	fluctuation(𝑦	fluctuation(𝑦	PROPN
fbem-26814	104	36	)	)	PUNCT
fbem-26814	104	37	,	,	PUNCT
fbem-26814	104	38	that	that	ADV
fbem-26814	104	39	is	is	ADV
fbem-26814	104	40	,	,	PUNCT
fbem-26814	104	41	𝛽1	𝛽1	NOUN
fbem-26814	104	42	=	=	SYM
fbem-26814	104	43	𝛽2	𝛽2	PROPN
fbem-26814	104	44	=	=	SYM
fbem-26814	104	45	⋯	⋯	PROPN
fbem-26814	104	46	=	=	PUNCT
fbem-26814	104	47	𝛽𝑝	𝛽𝑝	NOUN
fbem-26814	104	48	=	=	SYM
fbem-26814	104	49	0	0	NUM
fbem-26814	104	50	alternative	alternative	ADJ
fbem-26814	104	51	hypothesis	hypothesis	NOUN
fbem-26814	104	52	(	(	PUNCT
fbem-26814	104	53	ha	ha	INTJ
fbem-26814	104	54	):	):	PUNCT
fbem-26814	104	55	asset	asset	NOUN
fbem-26814	104	56	price	price	NOUN
fbem-26814	104	57	fluctuations	fluctuation	NOUN
fbem-26814	104	58	(	(	PUNCT
fbem-26814	104	59	𝑥	𝑥	X
fbem-26814	104	60	)	)	PUNCT
fbem-26814	104	61	can	can	AUX
fbem-26814	104	62	granger	granger	PROPN
fbem-26814	104	63	causal	causal	PROPN
fbem-26814	104	64	exchange	exchange	PROPN
fbem-26814	104	65	rate	rate	NOUN
fbem-26814	104	66	fluctuations	fluctuation	NOUN
fbem-26814	104	67	(	(	PUNCT
fbem-26814	104	68	𝑦	𝑦	NOUN
fbem-26814	104	69	)	)	PUNCT
fbem-26814	104	70	,	,	PUNCT
fbem-26814	104	71	i.e.	i.e.	X
fbem-26814	104	72	there	there	PRON
fbem-26814	104	73	is	be	VERB
fbem-26814	104	74	at	at	ADP
fbem-26814	104	75	least	least	ADJ
fbem-26814	104	76	one𝛽𝑖	one𝛽𝑖	VERB
fbem-26814	104	77	≠	≠	PROPN
fbem-26814	104	78	0	0	NUM
fbem-26814	104	79	.	.	PUNCT
fbem-26814	105	1	the	the	DET
fbem-26814	105	2	same	same	ADJ
fbem-26814	105	3	logic	logic	NOUN
fbem-26814	105	4	applies	apply	VERB
fbem-26814	105	5	to	to	ADP
fbem-26814	105	6	model	model	PROPN
fbem-26814	105	7	b.	b.	PROPN
fbem-26814	105	8	granger	granger	PROPN
fbem-26814	105	9	causality	causality	PROPN
fbem-26814	105	10	tests	test	NOUN
fbem-26814	105	11	often	often	ADV
fbem-26814	105	12	rely	rely	VERB
fbem-26814	105	13	on	on	ADP
fbem-26814	105	14	statistical	statistical	ADJ
fbem-26814	105	15	parameters	parameter	NOUN
fbem-26814	105	16	of	of	ADP
fbem-26814	105	17	the	the	DET
fbem-26814	105	18	f	f	NOUN
fbem-26814	105	19	-	-	PUNCT
fbem-26814	105	20	distribution	distribution	NOUN
fbem-26814	105	21	,	,	PUNCT
fbem-26814	105	22	which	which	PRON
fbem-26814	105	23	can	can	AUX
fbem-26814	105	24	evaluate	evaluate	VERB
fbem-26814	105	25	the	the	DET
fbem-26814	105	26	overall	overall	ADJ
fbem-26814	105	27	significance	significance	NOUN
fbem-26814	105	28	of	of	ADP
fbem-26814	105	29	the	the	DET
fbem-26814	105	30	set	set	NOUN
fbem-26814	105	31	of	of	ADP
fbem-26814	105	32	lagged	lag	VERB
fbem-26814	105	33	variables	variable	NOUN
fbem-26814	105	34	.	.	PUNCT
fbem-26814	106	1	when	when	SCONJ
fbem-26814	106	2	the	the	DET
fbem-26814	106	3	calculated	calculated	ADJ
fbem-26814	106	4	f	f	PROPN
fbem-26814	106	5	statistic	statistic	PROPN
fbem-26814	106	6	exceeds	exceed	VERB
fbem-26814	106	7	the	the	DET
fbem-26814	106	8	critical	critical	ADJ
fbem-26814	106	9	threshold	threshold	NOUN
fbem-26814	106	10	,	,	PUNCT
fbem-26814	106	11	or	or	CCONJ
fbem-26814	106	12	the	the	DET
fbem-26814	106	13	associated	associate	VERB
fbem-26814	106	14	p	p	NOUN
fbem-26814	106	15	value	value	NOUN
fbem-26814	106	16	falls	fall	VERB
fbem-26814	106	17	below	below	ADP
fbem-26814	106	18	the	the	DET
fbem-26814	106	19	preset	preset	ADJ
fbem-26814	106	20	significant	significant	ADJ
fbem-26814	106	21	level	level	NOUN
fbem-26814	106	22	(	(	PUNCT
fbem-26814	106	23	typically	typically	ADV
fbem-26814	106	24	a	a	DET
fbem-26814	106	25	one	one	NUM
fbem-26814	106	26	-	-	PUNCT
fbem-26814	106	27	sided	sided	ADJ
fbem-26814	106	28	level	level	NOUN
fbem-26814	106	29	of	of	ADP
fbem-26814	106	30	0.05	0.05	NUM
fbem-26814	106	31	)	)	PUNCT
fbem-26814	106	32	,	,	PUNCT
fbem-26814	106	33	the	the	DET
fbem-26814	106	34	null	null	ADJ
fbem-26814	106	35	hypothesis	hypothesis	NOUN
fbem-26814	106	36	is	be	AUX
fbem-26814	106	37	rejected	reject	VERB
fbem-26814	106	38	in	in	ADP
fbem-26814	106	39	favor	favor	NOUN
fbem-26814	106	40	of	of	ADP
fbem-26814	106	41	the	the	DET
fbem-26814	106	42	alternative	alternative	ADJ
fbem-26814	106	43	hypothesis	hypothesis	NOUN
fbem-26814	106	44	,	,	PUNCT
fbem-26814	106	45	from	from	ADP
fbem-26814	106	46	which	which	PRON
fbem-26814	106	47	a	a	DET
fbem-26814	106	48	firm	firm	ADJ
fbem-26814	106	49	causal	causal	NOUN
fbem-26814	106	50	association	association	NOUN
fbem-26814	106	51	can	can	AUX
fbem-26814	106	52	be	be	AUX
fbem-26814	106	53	inferred	infer	VERB
fbem-26814	106	54	.	.	PUNCT
fbem-26814	107	1	for	for	ADP
fbem-26814	107	2	model	model	NOUN
fbem-26814	107	3	a	a	X
fbem-26814	107	4	and	and	CCONJ
fbem-26814	107	5	model	model	NOUN
fbem-26814	107	6	b	b	PROPN
fbem-26814	107	7	,	,	PUNCT
fbem-26814	107	8	we	we	PRON
fbem-26814	107	9	perform	perform	VERB
fbem-26814	107	10	the	the	DET
fbem-26814	107	11	calculation	calculation	NOUN
fbem-26814	107	12	of	of	ADP
fbem-26814	107	13	statistical	statistical	ADJ
fbem-26814	107	14	index	index	NOUN
fbem-26814	107	15	f	f	NOUN
fbem-26814	107	16	according	accord	VERB
fbem-26814	107	17	to	to	ADP
fbem-26814	107	18	formula	formula	NOUN
fbem-26814	107	19	(	(	PUNCT
fbem-26814	107	20	1	1	NUM
fbem-26814	107	21	)	)	PUNCT
fbem-26814	107	22	and	and	CCONJ
fbem-26814	107	23	formula	formula	NOUN
fbem-26814	107	24	(	(	PUNCT
fbem-26814	107	25	2	2	NUM
fbem-26814	107	26	)	)	PUNCT
fbem-26814	107	27	respectively	respectively	ADV
fbem-26814	107	28	,	,	PUNCT
fbem-26814	107	29	and	and	CCONJ
fbem-26814	107	30	then	then	ADV
fbem-26814	107	31	perform	perform	VERB
fbem-26814	107	32	hypothesis	hypothesis	NOUN
fbem-26814	107	33	testing	testing	NOUN
fbem-26814	107	34	.	.	PUNCT
fbem-26814	108	1	at	at	ADP
fbem-26814	108	2	the	the	DET
fbem-26814	108	3	preset	preset	ADJ
fbem-26814	108	4	significance	significance	NOUN
fbem-26814	108	5	level	level	NOUN
fbem-26814	108	6	,	,	PUNCT
fbem-26814	108	7	if	if	SCONJ
fbem-26814	108	8	the	the	DET
fbem-26814	108	9	original	original	ADJ
fbem-26814	108	10	hypothesis	hypothesis	NOUN
fbem-26814	108	11	is	be	AUX
fbem-26814	108	12	negated	negate	VERB
fbem-26814	108	13	,	,	PUNCT
fbem-26814	108	14	it	it	PRON
fbem-26814	108	15	can	can	AUX
fbem-26814	108	16	be	be	AUX
fbem-26814	108	17	inferred	infer	VERB
fbem-26814	108	18	that	that	SCONJ
fbem-26814	108	19	securities	security	NOUN
fbem-26814	108	20	price	price	NOUN
fbem-26814	108	21	shocks	shock	NOUN
fbem-26814	108	22	have	have	VERB
fbem-26814	108	23	a	a	DET
fbem-26814	108	24	prospective	prospective	ADJ
fbem-26814	108	25	effect	effect	NOUN
fbem-26814	108	26	on	on	ADP
fbem-26814	108	27	currency	currency	NOUN
fbem-26814	108	28	exchange	exchange	NOUN
fbem-26814	108	29	rate	rate	NOUN
fbem-26814	108	30	shocks	shock	NOUN
fbem-26814	108	31	,	,	PUNCT
fbem-26814	108	32	and	and	CCONJ
fbem-26814	108	33	vice	vice	ADV
fbem-26814	108	34	versa	versa	ADV
fbem-26814	108	35	.	.	PUNCT
fbem-26814	109	1	based	base	VERB
fbem-26814	109	2	on	on	ADP
fbem-26814	109	3	the	the	DET
fbem-26814	109	4	test	test	NOUN
fbem-26814	109	5	results	result	NOUN
fbem-26814	109	6	,	,	PUNCT
fbem-26814	109	7	we	we	PRON
fbem-26814	109	8	found	find	VERB
fbem-26814	109	9	that	that	SCONJ
fbem-26814	109	10	:	:	PUNCT
fbem-26814	109	11	in	in	ADP
fbem-26814	109	12	model	model	NOUN
fbem-26814	109	13	a	a	X
fbem-26814	109	14	,	,	PUNCT
fbem-26814	109	15	the	the	DET
fbem-26814	109	16	f	f	PROPN
fbem-26814	109	17	statistic	statistic	PROPN
fbem-26814	109	18	exceeds	exceed	VERB
fbem-26814	109	19	the	the	DET
fbem-26814	109	20	threshold	threshold	NOUN
fbem-26814	109	21	,	,	PUNCT
fbem-26814	109	22	and	and	CCONJ
fbem-26814	109	23	the	the	DET
fbem-26814	109	24	p	p	NOUN
fbem-26814	109	25	value	value	NOUN
fbem-26814	109	26	is	be	AUX
fbem-26814	109	27	below	below	ADP
fbem-26814	109	28	0.05	0.05	NUM
fbem-26814	109	29	,	,	PUNCT
fbem-26814	109	30	negating	negate	VERB
fbem-26814	109	31	the	the	DET
fbem-26814	109	32	original	original	ADJ
fbem-26814	109	33	hypothesis	hypothesis	NOUN
fbem-26814	109	34	and	and	CCONJ
fbem-26814	109	35	confirming	confirm	VERB
fbem-26814	109	36	a	a	DET
fbem-26814	109	37	significant	significant	ADJ
fbem-26814	109	38	correlation	correlation	NOUN
fbem-26814	109	39	between	between	ADP
fbem-26814	109	40	asset	asset	NOUN
fbem-26814	109	41	and	and	CCONJ
fbem-26814	109	42	exchange	exchange	NOUN
fbem-26814	109	43	rate	rate	NOUN
fbem-26814	109	44	changes	change	NOUN
fbem-26814	109	45	via	via	ADP
fbem-26814	109	46	granger	granger	PROPN
fbem-26814	109	47	causality	causality	PROPN
fbem-26814	109	48	.	.	PUNCT
fbem-26814	110	1	similarly	similarly	ADV
fbem-26814	110	2	,	,	PUNCT
fbem-26814	110	3	model	model	PROPN
fbem-26814	110	4	b	b	PROPN
fbem-26814	110	5	shows	show	VERB
fbem-26814	110	6	an	an	DET
fbem-26814	110	7	f	f	PROPN
fbem-26814	110	8	value	value	NOUN
fbem-26814	110	9	above	above	ADP
fbem-26814	110	10	the	the	DET
fbem-26814	110	11	limit	limit	NOUN
fbem-26814	110	12	and	and	CCONJ
fbem-26814	110	13	a	a	DET
fbem-26814	110	14	p	p	NOUN
fbem-26814	110	15	value	value	NOUN
fbem-26814	110	16	below	below	ADP
fbem-26814	110	17	0.05	0.05	NUM
fbem-26814	110	18	,	,	PUNCT
fbem-26814	110	19	negating	negate	VERB
fbem-26814	110	20	the	the	DET
fbem-26814	110	21	assumption	assumption	NOUN
fbem-26814	110	22	and	and	CCONJ
fbem-26814	110	23	proving	prove	VERB
fbem-26814	110	24	reverse	reverse	ADJ
fbem-26814	110	25	granger	granger	NOUN
fbem-26814	110	26	causality	causality	NOUN
fbem-26814	110	27	from	from	ADP
fbem-26814	110	28	exchange	exchange	NOUN
fbem-26814	110	29	rate	rate	NOUN
fbem-26814	110	30	to	to	ADP
fbem-26814	110	31	asset	asset	NOUN
fbem-26814	110	32	price	price	NOUN
fbem-26814	110	33	fluctuations	fluctuation	NOUN
fbem-26814	110	34	.	.	PUNCT
fbem-26814	111	1	these	these	DET
fbem-26814	111	2	findings	finding	NOUN
fbem-26814	111	3	support	support	VERB
fbem-26814	111	4	hypotheses	hypothesis	NOUN
fbem-26814	111	5	h1	h1	ADJ
fbem-26814	111	6	and	and	CCONJ
fbem-26814	111	7	h2	h2	PROPN
fbem-26814	111	8	of	of	ADP
fbem-26814	111	9	a	a	DET
fbem-26814	111	10	two	two	NUM
fbem-26814	111	11	-	-	PUNCT
fbem-26814	111	12	way	way	NOUN
fbem-26814	111	13	causal	causal	ADJ
fbem-26814	111	14	interaction	interaction	NOUN
fbem-26814	111	15	between	between	ADP
fbem-26814	111	16	asset	asset	NOUN
fbem-26814	111	17	price	price	NOUN
fbem-26814	111	18	fluctuations	fluctuation	NOUN
fbem-26814	111	19	and	and	CCONJ
fbem-26814	111	20	the	the	DET
fbem-26814	111	21	foreign	foreign	ADJ
fbem-26814	111	22	exchange	exchange	NOUN
fbem-26814	111	23	market	market	NOUN
fbem-26814	111	24	.	.	PUNCT
fbem-26814	112	1	5	5	X
fbem-26814	112	2	.	.	X
fbem-26814	112	3	conclusion	conclusion	NOUN
fbem-26814	112	4	and	and	CCONJ
fbem-26814	112	5	suggestion	suggestion	NOUN
fbem-26814	112	6	this	this	DET
fbem-26814	112	7	study	study	NOUN
fbem-26814	112	8	uses	use	VERB
fbem-26814	112	9	theory	theory	NOUN
fbem-26814	112	10	and	and	CCONJ
fbem-26814	112	11	empirical	empirical	ADJ
fbem-26814	112	12	analysis	analysis	NOUN
fbem-26814	112	13	to	to	PART
fbem-26814	112	14	explain	explain	VERB
fbem-26814	112	15	the	the	DET
fbem-26814	112	16	mutual	mutual	ADJ
fbem-26814	112	17	effect	effect	NOUN
fbem-26814	112	18	between	between	ADP
fbem-26814	112	19	asset	asset	NOUN
fbem-26814	112	20	value	value	NOUN
fbem-26814	112	21	shock	shock	NOUN
fbem-26814	112	22	and	and	CCONJ
fbem-26814	112	23	foreign	foreign	ADJ
fbem-26814	112	24	exchange	exchange	NOUN
fbem-26814	112	25	.	.	PUNCT
fbem-26814	113	1	it	it	PRON
fbem-26814	113	2	finds	find	VERB
fbem-26814	113	3	a	a	DET
fbem-26814	113	4	bidirectional	bidirectional	ADJ
fbem-26814	113	5	effect	effect	NOUN
fbem-26814	113	6	and	and	CCONJ
fbem-26814	113	7	long	long	ADJ
fbem-26814	113	8	-	-	PUNCT
fbem-26814	113	9	term	term	NOUN
fbem-26814	113	10	convergence	convergence	NOUN
fbem-26814	113	11	.	.	PUNCT
fbem-26814	114	1	due	due	ADP
fbem-26814	114	2	to	to	ADP
fbem-26814	114	3	their	their	PRON
fbem-26814	114	4	deep	deep	ADJ
fbem-26814	114	5	coupling	coupling	NOUN
fbem-26814	114	6	,	,	PUNCT
fbem-26814	114	7	regulators	regulator	NOUN
fbem-26814	114	8	should	should	AUX
fbem-26814	114	9	enhance	enhance	VERB
fbem-26814	114	10	surveillance	surveillance	NOUN
fbem-26814	114	11	to	to	PART
fbem-26814	114	12	identify	identify	VERB
fbem-26814	114	13	and	and	CCONJ
fbem-26814	114	14	address	address	VERB
fbem-26814	114	15	market	market	NOUN
fbem-26814	114	16	instability	instability	NOUN
fbem-26814	114	17	early	early	ADV
fbem-26814	114	18	.	.	PUNCT
fbem-26814	115	1	sound	sound	ADJ
fbem-26814	115	2	macroeconomic	macroeconomic	ADJ
fbem-26814	115	3	strategies	strategy	NOUN
fbem-26814	115	4	are	be	AUX
fbem-26814	115	5	crucial	crucial	ADJ
fbem-26814	115	6	for	for	ADP
fbem-26814	115	7	managing	manage	VERB
fbem-26814	115	8	asset	asset	NOUN
fbem-26814	115	9	price	price	NOUN
fbem-26814	115	10	fluctuations	fluctuation	NOUN
fbem-26814	115	11	'	'	PART
fbem-26814	115	12	chain	chain	NOUN
fbem-26814	115	13	reactions	reaction	NOUN
fbem-26814	115	14	.	.	PUNCT
fbem-26814	116	1	future	future	ADJ
fbem-26814	116	2	studies	study	NOUN
fbem-26814	116	3	can	can	AUX
fbem-26814	116	4	include	include	VERB
fbem-26814	116	5	more	more	ADV
fbem-26814	116	6	diverse	diverse	ADJ
fbem-26814	116	7	variables	variable	NOUN
fbem-26814	116	8	for	for	ADP
fbem-26814	116	9	comprehensive	comprehensive	ADJ
fbem-26814	116	10	market	market	NOUN
fbem-26814	116	11	analysis	analysis	NOUN
fbem-26814	116	12	.	.	PUNCT
fbem-26814	117	1	references	reference	NOUN
fbem-26814	117	2	[	[	X
fbem-26814	117	3	1	1	NUM
fbem-26814	117	4	]	]	SYM
fbem-26814	117	5	westerhoff	westerhoff	NOUN
fbem-26814	117	6	f	f	PROPN
fbem-26814	117	7	h.	h.	PROPN
fbem-26814	117	8	exchange	exchange	PROPN
fbem-26814	117	9	rate	rate	NOUN
fbem-26814	117	10	dynamics	dynamic	NOUN
fbem-26814	117	11	:	:	PUNCT
fbem-26814	117	12	a	a	DET
fbem-26814	117	13	nonlinear	nonlinear	ADJ
fbem-26814	117	14	survey[m]//handbook	survey[m]//handbook	NOUN
fbem-26814	117	15	of	of	ADP
fbem-26814	117	16	research	research	NOUN
fbem-26814	117	17	on	on	ADP
fbem-26814	117	18	complexity	complexity	NOUN
fbem-26814	117	19	.	.	PUNCT
fbem-26814	118	1	edward	edward	PROPN
fbem-26814	118	2	elgar	elgar	PROPN
fbem-26814	118	3	publishing	publishing	PROPN
fbem-26814	118	4	,	,	PUNCT
fbem-26814	118	5	2009	2009	NUM
fbem-26814	118	6	.	.	PUNCT
fbem-26814	119	1	99	99	NUM
fbem-26814	120	1	[	[	SYM
fbem-26814	120	2	2	2	NUM
fbem-26814	120	3	]	]	X
fbem-26814	120	4	thoenissen	thoenissen	PROPN
fbem-26814	120	5	c.	c.	PROPN
fbem-26814	120	6	exchange	exchange	PROPN
fbem-26814	120	7	rate	rate	NOUN
fbem-26814	120	8	dynamics	dynamic	NOUN
fbem-26814	120	9	,	,	PUNCT
fbem-26814	120	10	asset	asset	NOUN
fbem-26814	120	11	market	market	NOUN
fbem-26814	120	12	structure	structure	NOUN
fbem-26814	120	13	,	,	PUNCT
fbem-26814	120	14	and	and	CCONJ
fbem-26814	120	15	the	the	DET
fbem-26814	120	16	role	role	NOUN
fbem-26814	120	17	of	of	ADP
fbem-26814	120	18	the	the	DET
fbem-26814	120	19	trade	trade	NOUN
fbem-26814	120	20	elasticity	elasticity	NOUN
fbem-26814	121	1	[	[	X
fbem-26814	121	2	j	j	X
fbem-26814	121	3	]	]	X
fbem-26814	121	4	.	.	PUNCT
fbem-26814	122	1	macroeconomic	macroeconomic	ADJ
fbem-26814	122	2	dynamics	dynamic	NOUN
fbem-26814	122	3	,	,	PUNCT
fbem-26814	122	4	2011	2011	NUM
fbem-26814	122	5	,	,	PUNCT
fbem-26814	122	6	15(1	15(1	NUM
fbem-26814	122	7	):	):	PUNCT
fbem-26814	122	8	119	119	NUM
fbem-26814	122	9	-	-	SYM
fbem-26814	122	10	143	143	NUM
fbem-26814	122	11	.	.	PUNCT
fbem-26814	123	1	[	[	X
fbem-26814	123	2	3	3	X
fbem-26814	123	3	]	]	X
fbem-26814	123	4	cheung	cheung	PROPN
fbem-26814	123	5	y	y	PROPN
fbem-26814	123	6	w	w	PROPN
fbem-26814	123	7	,	,	PUNCT
fbem-26814	123	8	chinn	chinn	PROPN
fbem-26814	123	9	m	m	PROPN
fbem-26814	123	10	d.	d.	PROPN
fbem-26814	123	11	currency	currency	NOUN
fbem-26814	123	12	traders	trader	NOUN
fbem-26814	123	13	and	and	CCONJ
fbem-26814	123	14	exchange	exchange	NOUN
fbem-26814	123	15	rate	rate	NOUN
fbem-26814	123	16	dynamics	dynamic	NOUN
fbem-26814	123	17	:	:	PUNCT
fbem-26814	123	18	a	a	DET
fbem-26814	123	19	survey	survey	NOUN
fbem-26814	123	20	of	of	ADP
fbem-26814	123	21	the	the	DET
fbem-26814	123	22	us	us	PROPN
fbem-26814	123	23	market	market	NOUN
fbem-26814	123	24	[	[	X
fbem-26814	123	25	j	j	X
fbem-26814	123	26	]	]	X
fbem-26814	123	27	.	.	PUNCT
fbem-26814	124	1	journal	journal	PROPN
fbem-26814	124	2	of	of	ADP
fbem-26814	124	3	international	international	ADJ
fbem-26814	124	4	money	money	NOUN
fbem-26814	124	5	and	and	CCONJ
fbem-26814	124	6	finance	finance	NOUN
fbem-26814	124	7	,	,	PUNCT
fbem-26814	124	8	2001	2001	NUM
fbem-26814	124	9	,	,	PUNCT
fbem-26814	124	10	20(4	20(4	NOUN
fbem-26814	124	11	):	):	PUNCT
fbem-26814	124	12	439	439	NUM
fbem-26814	124	13	-	-	SYM
fbem-26814	124	14	471	471	NUM
fbem-26814	124	15	.	.	PUNCT
fbem-26814	125	1	[	[	X
fbem-26814	125	2	4	4	X
fbem-26814	125	3	]	]	PUNCT
fbem-26814	125	4	koosakul	koosakul	PROPN
fbem-26814	125	5	j	j	PROPN
fbem-26814	125	6	,	,	PUNCT
fbem-26814	125	7	shim	shim	NOUN
fbem-26814	125	8	i.	i.	NOUN
fbem-26814	125	9	the	the	DET
fbem-26814	125	10	effects	effect	NOUN
fbem-26814	125	11	of	of	ADP
fbem-26814	125	12	asset	asset	NOUN
fbem-26814	125	13	price	price	NOUN
fbem-26814	125	14	volatility	volatility	NOUN
fbem-26814	125	15	on	on	ADP
fbem-26814	125	16	market	market	NOUN
fbem-26814	125	17	participation	participation	NOUN
fbem-26814	125	18	:	:	PUNCT
fbem-26814	125	19	evidence	evidence	NOUN
fbem-26814	125	20	from	from	ADP
fbem-26814	125	21	the	the	DET
fbem-26814	125	22	thai	thai	ADJ
fbem-26814	125	23	foreign	foreign	PROPN
fbem-26814	125	24	exchange	exchange	PROPN
fbem-26814	125	25	market	market	NOUN
fbem-26814	126	1	[	[	X
fbem-26814	126	2	j	j	X
fbem-26814	126	3	]	]	X
fbem-26814	126	4	.	.	PUNCT
fbem-26814	127	1	journal	journal	PROPN
fbem-26814	127	2	of	of	ADP
fbem-26814	127	3	banking	banking	NOUN
fbem-26814	127	4	&	&	CCONJ
fbem-26814	127	5	finance	finance	NOUN
fbem-26814	127	6	,	,	PUNCT
fbem-26814	127	7	2021	2021	NUM
fbem-26814	127	8	,	,	PUNCT
fbem-26814	127	9	124	124	NUM
fbem-26814	127	10	:	:	SYM
fbem-26814	127	11	106036	106036	NUM
fbem-26814	127	12	.	.	PUNCT
fbem-26814	128	1	[	[	X
fbem-26814	128	2	5	5	NUM
fbem-26814	128	3	]	]	SYM
fbem-26814	128	4	kouri	kouri	PROPN
fbem-26814	128	5	p	p	PROPN
fbem-26814	128	6	j	j	PROPN
fbem-26814	128	7	k.	k.	PROPN
fbem-26814	128	8	balance	balance	PROPN
fbem-26814	128	9	of	of	ADP
fbem-26814	128	10	payments	payment	NOUN
fbem-26814	128	11	and	and	CCONJ
fbem-26814	128	12	the	the	DET
fbem-26814	128	13	foreign	foreign	ADJ
fbem-26814	128	14	exchange	exchange	NOUN
fbem-26814	128	15	market	market	NOUN
fbem-26814	128	16	:	:	PUNCT
fbem-26814	128	17	a	a	DET
fbem-26814	128	18	dynamic	dynamic	ADJ
fbem-26814	128	19	partial	partial	ADJ
fbem-26814	128	20	equilibrium	equilibrium	NOUN
fbem-26814	128	21	model	model	NOUN
fbem-26814	129	1	[	[	X
fbem-26814	129	2	r	r	X
fbem-26814	129	3	]	]	PUNCT
fbem-26814	129	4	.	.	PUNCT
fbem-26814	130	1	national	national	PROPN
fbem-26814	130	2	bureau	bureau	PROPN
fbem-26814	130	3	of	of	ADP
fbem-26814	130	4	economic	economic	ADJ
fbem-26814	130	5	research	research	NOUN
fbem-26814	130	6	,	,	PUNCT
fbem-26814	130	7	1981	1981	NUM
fbem-26814	130	8	.	.	PUNCT