Estimating and forecasting generalized fractional Long memory stochastic volatility models

In recent years fractionally differenced processes have received a great deal of attention due to its flexibility in financial applications with long memory. This paper considers a class of models generated by Gegenbauer polynomials, incorporating the long memory in stochastic volatility (SV) components in order to develop the General Long Memory SV (GLMSV) model. We examine the statistical properties of the new model, suggest using the spectral likelihood estimation for long memory processes, and investigate the finite sample properties via Monte Carlo experiments. We apply the model to three exchange rate return series. Overall, the results of the out-of-sample forecasts show the adequacy of the new GLMSV model.

Constructing topological models by symmetrization: A projected entangled pair states study

Symmetrization of topologically ordered wave functions is a powerful method for constructing new topological models. Here we study wave functions obtained by symmetrizing quantum double models of a group G in the projected entangled pair states (PEPS) formalism. We show that symmetrization naturally gives rise to a larger symmetry group G˜ which is always non-Abelian. We prove that by symmetrizing on sufficiently large blocks, one can always construct wave functions in the same phase as the double model of G˜. In order to understand the effect of symmetrization on smaller patches, we carry out numerical studies for the toric code model, where we find strong evidence that symmetrizing on individual spins gives rise to a critical model which is at the phase transitions of two inequivalent toric codes, obtained by anyon condensation from the double model of G˜.

Exoplanet atmospheres Characterization Observatory payload short-wave infrared channel: EChO SWiR

EChO (Exoplanet atmospheres Characterization Observatory), a proposal for exoplanets exploration space mission, is considered the next step for planetary atmospheres characterization. It would be a dedicated observatory to uncover a large selected sample of planets spanning a wide range of masses (from gas giants to super-Earths) and orbital temperatures (from hot to habitable). All targets move around stars of spectral types F, G, K, and M. EChO would provide an unprecedented view of the atmospheres of planets in the solar neighbourhood. The consortium formed by various institutions of different countries proposed as ESA M3 an integrated spectrometer payload for EChO covering the wavelength interval 0.4 to 16 µm. This instrument is subdivided into 4 channels: a visible channel, which includes a fine guidance system (FGS) and a VIS spectrometer, a near infrared channel (SWiR), a middle infrared channel (MWiR), and a long wave infrared module (LWiR). In addition, it contains a common set of optics spectrally dividing the wavelength coverage and injecting the combined light of parent stars and their exoplanets into the different channels. The proposed payload meets all of the key performance requirements detailed in the ESA call for proposals as well as all scientific goals. EChO payload is based on different spectrometers covering the spectral range mentioned above. Among them, SWiR spectrometer would work from 2.45 microns to 5.45 microns. In this paper, the optical and mechanical designs of the SWiR channel instrument are reported on.