This paper revisits Levy sections theorem, which generalizes the central limit theorem to encompass autocorrelated variables. Levy sections theorem’s approach is extended to time series and applied to historical daily returns of selected dollar exchange rates. We explain the elevated kurtosis usually observed in such series by their volatilities. In particular, the high kurtosis of emerging mar...

There has been recent interest in applying the Heath-JarrowMorton interest rate framework to other areas of financial modelling. Unfortunately, there are serious technical challenges in implementing the approach for modelling the dynamics of the implied volatility surface of a given stock. By a suitable change of parametrisation, we derive an HJMstyle SPDE and discuss its existence theory. We s...

Azriel Levy (1934–) did fundamental work in set theory when it was transmuting into a modern, sophisticated field of mathematics, a formative period of over a decade straddling Cohen’s 1963 founding of forcing. The terms “Levy collapse”, “Levy hierarchy”, and “Levy absoluteness” will live on in set theory, and his technique of relative constructibility and connections established between forcin...

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In this paper we present a parametric estimation method for certain multi-parameter heavy-tailed Levy-driven moving averages. The theory relies on recent multivariate central limit theorems obtained in [3] via Malliavin calculus Poisson spaces. Our minimal contrast approach is related to the papers [14, 15], which propose use marginal empirical characteristic function estimate one-dimensional p...

OBJECTIVE To examine the effect of the application, and removal, in the Northern Territory of a levy on the sale of cask wine--a beverage shown to contribute disproportionately to alcohol-related harm. METHOD Using data on licensee purchases of alcoholic beverages and ABS population data, estimates were made of per capita consumption of pure alcohol by beverage type. Time series variables wer...

ly and blurring social distinctions: Implications for perceiv-ing homogeneity among, but also empathizing with and helping, others. Journal of Personality and Social Psychology, 83, 1224–1238. Levy, S. R., Stroessner, S. J., & Dweck, C. S. (1998). Stereotype formation and endorsement: The role of implicit theories. Journal of Personality and Social Psychology, 74, 1421–1436.Levy, S. R.,...

A t the Museum of Sex in New York City, artifi cial-intelligence researcher David Levy projected a mock image on a screen of a smiling bride in a wedding dress holding hands with a short robot groom. " Why not marry a robot? Look at this happy couple, " he said to a chuckling crowd. When Levy was then asked whether anyone who would want to marry a robot was deluded, his face grew serious. " If ...