题目
Fat-tailed asset return distributions are most likely the result of time-varying:
选项
A.Volatility for the unconditional distribution
B.Means for the unconditional distribution
C.Volatility for the conditional distribution
D.Means for the conditional distribution
答案
A
解析
The most likely explanation for "fat tails" is that the second moment or volatility is time varying for the unconditional distribution.对于“肥尾”最可能的解释是，对非无条件分布，第二时刻或波动性随时间而变化