Jin-yan Hu

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The study of various living complex systems by system identification method is important, and the identification of the problem is even more challenging when dealing with a dynamic nonlinear system of discrete time. A well-established model based on kernel functions for input of the maximum length sequence (m-sequence) can be used to estimate nonlinear(More)
Derived from the present-value model of stock prices, our model implies that the log stock price is a linear function of expected log dividends and the expected rate of growth of dividends where expectations are formed adaptively. The model explains very well the prices of 47 stocks traded on the Shanghai Stock Exchange observed at the beginning of 1996,(More)
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