No.PZ2019070101000001 (选择题)
来源: 品职出题
Which of the following is an explanation of fat-tailed distributions of an asset return?
正确答案是: B
A
Conditional volatility is time varing.
B
Unconditional volatility is time varing.
C
Conditional mean is time varing.
D
Unconditional mean is time varing.
答案选B
讲义P368说：another possible explanation for the fat tails is that the conditional volatility is time-varying
那讲义这里该怎么理解
