size. The strong approximation is first proved for heterogeneous martingale difference arrays and then extended to general … mixingales via martingale approximation, readily accommodating a majority of applications in applied econometrics. We use these …–Pissarides search and matching model for equilibrium unemployment, and shed new light on the unemployment volatility puzzle from an …

We provide a set of probabilistic laws for range-based estimation of integrated variance of a continuous semi-martingale …