Publications
Extreme comovements and downside/upside risk spillovers between oil prices and exchange rates , (with Cathy Ning), Forthcoming in Macroeconomic Dynamics, 2024+.
"Good" and "Bad" Volatilities: A Realized Semivariance GARCH Approach , Applied Economics, Pages 1–21. https://doi.org/10.1080/00036846.2023.2273242, 2023.
"Canadian Stock Market Volatility under COVID-19" , International Review of Economics & Finance, Volume 77, Pages 159-169, 2022.
"Modelling Asset Returns in the Presence of Price Limits with Markov-Switching Mixture of Truncated Normal GARCH Distribution: Evidence from China", (with Donghua Wang, Jin Ding, Guoqing Chu, Tony Wirjanto), Applied Economics, Volume, 53 (7), 781 - 804. 2022.
"Combining a Self-Exciting Point Process with the Truncated Generalized Pareto Distribution: An Extreme Risk Analysis under Price Limits", (with Donghua Wang, Jingru Ji and Chi Xu), Journal of Empirical Finance, Volume 57, Pages 52-70, 2021.
"A Study on Volatility Spurious Almost Integration Effect: A Threshold Realized GARCH Approach", International Journal of Finance and Economics, Volume 26 (3), 4104 - 4126, 2021.
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"Modelling Asset Returns under Price Limits with Mixture of Truncated Gaussian Distribution", Applied Economics, Volume 52 (52), 5706 - 5725, 2020.
"Modelling the Spreading Process of Extreme Risks Via a Simple Agent-Based Model: Evidence From the China Stock
Market", (with Jingru Ji and Donghua Wang), Economic Modelling, Vol 80, 383-391, 2019.
"GMM Estimation of a Stochastic Volatility Model with Realized Volatility: A Monte Carlo Study", (with Pierre Chausse), Econometric Reviews, Vol 37 (7), 719-743, 2018.
"Random Matrix Application to Correlations Among Volatility of Assets", (with Ajay Singh), Quantitative Finance, Vol 16 (1), 69--83, 2016.
"Is Volatility Clustering of Asset Returns Asymmetric?", (with Cathy Ning and Tony Wirjanto), Journal of Banking and Finance, Vol 52, 62--76, 2015.
"Examining Realized Volatility Regimes under a Threshold Stochastic Volatility Model ", International Journal of Finance & Economics, Vol 17(4). 373--389, 2013.
"Stochastic Volatility Model under a Discrete Mixture-of-Normal Specification", (with John Knight), Journal of Economics and Finance, Vol 37, 216--239, 2013.
"Empirical Evidence of Leverage Effect In A Stochastic Volatility Model: A Realized Volatility Approach ", (with Yuying Li), Invited Contribution, Frontiers of Economics in China, Vol 7 (1), 22 -- 43, 2012.
"Asymmetric Stochastic Conditional Duration Model -- A Mixture-of-Normal Approach", (with John Knight and Tony Wirjanto), Journal of Financial Econometrics, Vol 9 (3), 469--488, 2011.
"Continuous Empirical Characteristic Function Estimation of Mixtures of Normal Parameters", (with John Knight), Econometric Reviews, Vol 30 (1), 25--50, 2011.
"An Efficient Estimation on Switching Regression Models: A Monte Carlo Study", Communication in Statistics: Simulation and Computation, Vol 39 (7), 1403--1421, 2010.
"An Empirical Characteristic Function Approach to VaR under a Mixture of Normal Distribution with Time-Varying Volarility", (with Tony Wirjanto), Journal of Derivatives, Vol 18 (1), 39--58, 2010.
"Modelling Leverage Effect With Copulas and Realized Volatility", (with Cathy Ning and Tony Wirjanto), Finance Research Letters, Vol 5 (4),221--227, 2008.
Working Papers:
"The applications of Machine Learnings to housing and mortgage industries: A Literature Review", 2021.
"COVID-19 Infodemic: Evidence from Global Financial Markets", (with Xiaojia Hu), 2021.
"Modelling Stylized Features of Stock Returns with a Vine Copula", (with Cathy Ning and Wanling Huang), R & R , 2021.
"On Persistence of Implied Volatility: Evidence from SP500", (with Ajay Singh), 2018.
"Truncated/Censored financial modelling: Applications to stock markets with price limits", (with Lisa Lin), 2017.
"An ISE Approach to Gaussian GARCH Models", 2017..
"A Mixture-of-Normals Distribution Modeling Approach in Financial Econometrics: A Selected Review", (with Tony Wirjanto), 2015.
"Computation of Portfolio VaRs with GARCH Models Using Independent Component Analysis", (with Tony Wirjanto), 2012.
"Value at Risk with Bivariate Mixture of Normals Stochastic Volatility Models and Independent Component Analysis", (with Tony Wirjanto), TD-UW Computational Research Partnership Project, 2008.