DYNAMIC CONDITIONAL CORRELATION – A SIMPLE CLASS …
1 This research has been supported by NSF grant SBR-9730062 and NBER AP group. The author wishes to thank Kevin Sheppard for research assistance, and Pat Burns and John Geweke for insightful comments. Thanks also go to seminar participants at New York University, UCSD, Academica Sinica, Taiwan, CNRS Montreal, University of Iowa, Journal of
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