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It is well-known that Bayesian approaches can avoid the discontinuity problem of the classical frequent unit root testing statistics. In this paper, the main object is to develop a new fully Bayesian unit root approach based on Kullback-Leibler divergence function and the mixed prior specification. The finite sample behavior of the proposed test statistic is illustrated using Monte Carlo simulation...
Principal component analysis (PCA) is a technique that is widely used for applications such as dimensionality reduction, image compression, feature extraction and data visualization. One of the key issues in the use of PCA for modelling is that it is very sensitive to outliers since its formulation is based on Gaussian density model. Lately, more heavy-tailed distribution (i.e., Student's t-distribution)...
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