Previous studies indicate that the volatilityprocess of financial market has a distinctive long memory.
已有研究结果表明金融市场波动过程具有显著的长期记忆性。
2
In particular, it has been demonstrated that the conventional GARCH model can exaggerate volatility persistence compared to the (true) volatilityprocess perceived by the market.
特别是,相对于被市场所发现的真实波动过程来说,传统的GARCH模型夸大了波动的持续性。
3
A process undergoes a certain amount of volatility as it moves from start to finish.