the linguistic is studying the language different levels, the language is main topic  that the linguistic sisstu dying it. the linguistics has several branches,the stylistics is one of its branches that survey literary works. and stylistic phenomenon is one of the important phenomen as at linguistic studies and it study poetic language because it’s different from the common language. since the ...

Financial markets are notoriously complex environments, presenting vast amounts of noisy, yet potentially informative data. We consider the problem of forecasting financial time series from a wide range of information sources using online Gaussian Processes with Automatic Relevance Determination (ARD) kernels. We measure the performance gain, quantified in terms of Normalised Root Mean Square E...

The presence of stock market efficiency is a distinctive characteristic of the effectively functioning market economy. Investigation of the market efficiency of seven emerging East-European stock exchanges is carried out as their major stock indices (BELEX15, BET, CROBEX, ISE100, PFTS, RTSI, SOFIX) are studied in respect of long-range dependence (LRD), persistency, and forecasting possibili...

Risk is not uniformly spread across financial markets and this fact can be exploited to reduce investment risk contributing to improve global financial stability. We discuss how, by extracting the dependency structure of financial equities, a network approach can be used to build a well-diversified portfolio that effectively reduces investment risk. We find that investments in stocks that occup...

In many practical situations, we encounter heavy-tailed distributions for which the variance – and even sometimes the mean – are infinite. We propose a fractal-based approach that enables us to gauge the mean and variance of such distributions. 1 Formulation of the Problem There are many practical situations in which the probability distribution is drastically different from normal. In many suc...

Using particle system methodologies we study the propagation of financial distress in a network of firms facing credit risk. We investigate the phenomenon of a credit crisis and quantify the losses that a bank may suffer in a large credit portfolio. Applying a large deviation principle we compute the limiting distributions of the system and determine the time evolution of the credit quality ind...

In the present paper we apply the Gibbs Sampling approach to estimate the parameters of a Markov Switching Model which we use to model financial time series. In particular, we estimate the standard deviation of the time series in order to obtain an indicator similar to the VIX index. The Markov Switching technique has been chosen because of the presence of exogenous factors which can have a lar...

Using particle system methodologies we study the propagation of financial distress in a network of firms facing credit risk. We investigate the phenomenon of a credit crisis and quantify the losses that a bank may suffer in a large credit portfolio. Applying a large deviation principle we compute the limiting distributions of the system and determine the time evolution of the credit quality ind...