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Record W2162460645 · doi:10.1080/07474930701220576

Bayesian Clustering of Many Garch Models

2007· article· en· W2162460645 on OpenAlexaff
Luc Bauwens, Jeroen V.K. Rombouts

Bibliographic record

VenueEconometric Reviews · 2007
Typearticle
Languageen
FieldEconomics, Econometrics and Finance
TopicFinancial Risk and Volatility Modeling
Canadian institutionsHEC MontréalCenter for Interuniversity Research and Analysis on Organizations
Fundersnot available
KeywordsAutoregressive conditional heteroskedasticityEconometricsCluster analysisBayesian probabilityVolatility clusteringComputer scienceMathematicsStatisticsVolatility (finance)

Abstract

fetched live from OpenAlex

We consider the estimation of a large number of GARCH models, of the order of several hundreds. Our interest lies in the identification of common structures in the volatility dynamics of the univariate time series. To do so, we classify the series in an unknown number of clusters. Within a cluster, the series share the same model and the same parameters. Each cluster contains therefore similar series. We do not know a priori which series belongs to which cluster. The model is a finite mixture of distributions, where the component weights are unknown parameters and each component distribution has its own conditional mean and variance. Inference is done by the Bayesian approach, using data augmentation techniques. Simulations and an illustration using data on U.S. stocks are provided.

Fetched live from OpenAlex and de-inverted. Abstracts are not stored in this database: the inverted indexes are 8.6 GB of the frame’s 9.3 GB of text, and the host has 13 GB free.

How this classification was reachedexpand

Full frame machine prediction

Teacher imitation

Not calibrated prevalence, not ground truth. Human validation pending. The Gemma side is a direct model label for every work in the frame, read from the title-only record. The Codex side is a classifier learned from the 10,348 direct Codex labels and calibrated to design-weighted sample rates; fields without enough sample support carry no Codex call. Candidate is the union of the two sides; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels.

metaresearch head score (Codex)0.006
metaresearch head score (Gemma)0.019
Version: metacan-v3-hybrid-931329e0061cValidation status: machine_predicted_unvalidated
Candidate categoriesnone
Consensus categoriesnone
DomainCandidate signal: none · Consensus signal: none
Study designCandidate signal: Simulation or modeling · Consensus signal: Simulation or modeling
GenreCandidate signal: Methods · Consensus signal: Methods
Teacher disagreement score0.006
Threshold uncertainty score0.032

Distilled classifier scores by category (both heads)

CategoryCodexGemma
Metaresearch0.0060.019
Meta-epidemiology (narrow)0.0010.001
Meta-epidemiology (broad)0.0030.002
Bibliometrics0.0030.003
Science and technology studies0.0010.002
Scholarly communication0.0030.004
Open science0.0030.002
Research integrity0.0030.002
Insufficient payload (model declined to judge)0.0030.001

Machine scores (provisional)

The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.

Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.

Opus teacher head0.112
GPT teacher head0.281
Teacher spread0.169 · how far apart the two teachers sit on this one work
Validation statusscore_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from it

Classification

machine, unvalidated

Machine predicted; a candidate call from one source (direct Gemma or distilled Codex), not a consensus.

The models applied no category: nothing in the taxonomy fit this work.
Study designSimulation or modeling
Domainnot available
GenreMethods

How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".

Quick stats

Citations50
Published2007
Admission routes1
Has abstractyes

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