This paper investigates two aspects of China's pollution levy system that has been implemented for about 20 years in China. First, the determinants of differences in enforcement of the pollution levy across urban areas are analyzed. The results show that actual collections of the uniformly designed pollution levy are sensitive to differences in economic development and environmental quality, wh...

We propose a simple model based on the Gnedenko limit theorem for simulation and studies of the ordinary Levy motion, that is, a random process, whose increments are independent and distributed with a stable probability law. We use the generalized structure function for characterizing anomalous diffusion rate and propose to explore the modified Hurst method for empirical rescaled range analysis...

The scaling of the probability distribution of the Sao Paulo Stock Exchange index is shown to be described by a Levy stable stochastic process for the modal region of the distribution. Data refer to daily records for the 30−year period 1968−1998. The truncated Levy process is characterized by a scaling index of 1.66. Scaling power laws are also shown to be present in the mean and standard devia...

A is a continuous-time, real-valued stochastic process which has independent and Levy jump process stationary increments, with no Brownian component. We study some of the fundamental properties of Levy jump processes and develop inventory models for them. Of particular interest to us is the gamma-distributed Levy process, in which the demand that occurs in a fixed period of time has a gamma dis...

Mikolov et al. (2013) introduced the skip-gram formulation for neural word embeddings, wherein one tries to predict the context of a given word. Their negative-sampling algorithm improved the computational feasibility of training the embeddings. Due to their state-of-the-art performance on a number of tasks, there has been much research aimed at better understanding it. Goldberg and Levy (2014)...

We develop Bayesian Markov chain Monte Carlo methods for inferences of continuoustime models with stochastic volatility and infinite-activity Levy jumps using discretely sampled data. Simulation studies show that (i) our methods provide accurate joint identification of diffusion, stochastic volatility, and Levy jumps, and (ii) affine jumpdiffusion models fail to adequately approximate the behav...