Veraart, Almut E. D.; Veraart, Luitgard A. M. - School of Economics and Management, University of Aarhus - 2009
School of Economics and Management
Aarhus University
Bartholins Allé 10, Building 1322, DK-8000 Aarhus C
Denmark … Black (1976) and was further
∗CREATES, School of Economics and Management, Aarhus University, DK-8000 Aarhus C, DENMARK … between the asset returns and the volatility as a
stochastic process. To the best of our knowledge this is the first paper …