In this paper, a new smooth slideshow transition effect, Sewing Photos, is proposed while considering both of smooth content transition and smooth camera motion. Comparing to the traditional photo browsing and displaying work, which all focused on presenting splendid visual effects, Sewing Photos emphasizes on the smooth transition process between photos while taking the photo contents into acc...

This study examines empirically with complete transaction records of index futures and of the index stocks, as well as the bid/ask price quotes of the latter, the impact of stock market order imbalance on the dynamic behavior of index futures and the underlying cash index. The study purges spurious correlation in the index by using an estimate of the “true” index with highly synchronous and act...

This paper proposes a new kind of asymmetric GARCH where the conditional variance obeys two diierent regimes with a smooth transition function. In one formulation, the conditional variance reacts diierently to negative and positive shocks while in a second formulation, small and big shocks have separate eeects. The introduction of a threshold allows for a mixed eeect. A Bayesian strategy, based...

Covariate dependent Markov models dealing with estimation of transition probabilities for higher orders appear to be restricted because of over-parameterization. An improvement of the previous methods for handling runs of events by expressing the conditional probabilities in terms of the transition probabilities generated from Markovian assumptions was proposed using Chapman-Kolmogorov equation...

Since the 2000s, large fluctuations in commodity prices have become a concern among policymakers regarding price stability. This paper investigates the effects of commodity price shocks on headline inflation with a monthly panel consisting of 144 countries. We find that the effects of commodity price shocks on inflation virtually disappear within about one year after the shock. While the effect...

We empirically analyze Taylor-type equations for short-term interest rates in the United Kingdom using quarterly data from 1970Q1 to 2006Q2. Starting from strong evidence against a simple linear Taylor rule, we model nonlinearities using logistic smooth transition regression (LSTR) models. The LSTR models with time varying parameters consistently track actual interest rate movements better than...

We investigate transition law between consecutive observations of Ornstein-Uhlenbeck processes of infinite variation with tempered stable stationary distribution. Thanks to the Markov autoregressive structure, the transition law can be written in the exact sense as a convolution of three random components; a compound Poisson distribution and two independent tempered stable distributions, one wi...

The smooth testing approach described in [2] has been used to develop a test of the distributional assumption for generalized linear models. Application of the test to help assess Poisson and logistic regression models is discussed. Power is compared to other common tests.

This study examines the effects of unconventional monetary policies (UMPs) by major central banks, namely Bank England (BOE), Japan (BOJ), European Central (ECB) and Federal Reserve (Fed), on international financial markets, taking global spillovers policy interaction into account. To this end, we applied Global Vector Autoregressive (GVAR) model to 35 countries/economies one region for period ...

The unit root test proposed by Ranjbar et al. (2018) was examined for an alternative of stationary asymmetric exponential smooth transition autoregressive (AESTAR) under structural breaks. situation that stands out as a deficiency in the mentioned study model does not includes zero-mean structure taken into account. On contrary, features should also had been explained. Because time-varying dete...