wanyu/IteraTeR_full_sent huggingface dataset:
Original: The paper models foreign capital inflow from the developed to the developing countries in a stochastic dynamic programming framework. The model is solved by numerical technique because of the non-linearity of the  functions.
Revised: The paper models foreign capital inflow from the developed to the developing countries in a stochastic dynamic programming (SDP) framework. Under some regularity conditions, the existence of the solutions to the SDP problem is proved and they are then obtained by numerical technique because of the non-linearity of the functions.
Edit intent: meaning-changed
Original:  A number of comparative dynamic analyses explore the impact of parameters of the model on dynamic paths of capital inflow, interest rate in the international loan market and the exchange rate . The model also explores the possibility of financial crisis originating either in the developed country or in the developing country. The explanation of crisis in this structure is based on trade theoretic terms in a dynamic terms of trade framework rather than due to informational imperfections .
Revised:  A number of comparative dynamic analyses explore the impact of parameters of the model on dynamic paths of capital inflow, interest rate in the international loan market and the exchange rate .
Edit intent: coherence
Original: The estimation of risk measured in terms of a risk measure is typically done in two steps: in the first step, the distribution is estimated by statistical methods, either parametric or non-parametric. In the second step, the estimated distribution is considered as true distribution and the targeted risk-measure is computed. In the parametric case this is achieved by using the formula for the risk-measure in the model and inserting the estimated parameters. It is well-known that this procedure is not efficient because the highly nonlinear mapping from model parameters to the risk-measure introduces an additional biases. Statistical experiments show that this bias leads to a systematic underestimation of risk.
Revised: The estimation of risk measures recently gained a lot of attention, partly because of the backtesting issues of expected shortfall related to elicitability. In this work we shed a new and fundamental light on optimal estimation procedures in terms of bias. We show that once the parameters of a model need to be estimated, one has to take additional care when estimating risks. The typical plug-in approach, for example, introduces a bias which leads to a systematic underestimation of risk.
Edit intent: coherence
Original:  In the special case of normal distributions, closed-formed solutions for unbiased estimators are given. For the general case we propose a bootstrapping algorithm and illustrate the outcomes by several data experiments .
Revised:  In the special case of normal distributions, closed-formed solutions for unbiased estimators can be obtained. We present a number of motivating examples which show the outperformance of unbiased estimators in many circumstances. The unbiasedness has a direct impact on backtesting and therefore adds a further viewpoint to established statistical properties .
Edit intent: meaning-changed
Original: We compute a sharp small-time estimate for the price of a basket call under a bi-variate SABR model with both \beta parameters equal to 1 and three correlation parameters, which extends the work of Bayer,Friz&Laurence [BFL14] for the multivariate Black-Scholes flat vol model , and we show that the BFL14%DIFDELCMD < ] %%% result has to be adjusted for strikes above a certain critical value K^* where the convolution density admits a higher order saddlepoint .
Revised: We compute a sharp small-time estimate for the price of a basket call under a bi-variate SABR model with both \beta parameters equal to 1 and three correlation parameters, which extends the work of Bayer,Friz&Laurence [BFL14] for the multivariate Black-Scholes flat vol model BFL14%DIFDELCMD < ] %%% result has to be adjusted for strikes above a certain critical value K^* where the convolution density admits a higher order saddlepoint .
Edit intent: coherence
Original: We compute a sharp small-time estimate for the price of a basket call under a bi-variate SABR model with both \beta parameters equal to 1 and three correlation parameters, which extends the work of Bayer,Friz&Laurence [BFL14] for the multivariate Black-Scholes flat vol model , and we show that the BFL14%DIFDELCMD < ] %%% result has to be adjusted for strikes above a certain critical value K^* where the convolution density admits a higher order saddlepoint .
Revised: We compute a sharp small-time estimate for the price of a basket call under a bi-variate SABR model with both \beta parameters equal to 1 and three correlation parameters, which extends the work of Bayer,Friz&Laurence [BFL14] for the multivariate Black-Scholes flat vol model , and we show that the %DIFDELCMD < ] %%% result has to be adjusted for strikes above a certain critical value K^* where the convolution density admits a higher order saddlepoint .
Edit intent: clarity
Original: We compute a sharp small-time estimate for the price of a basket call under a bi-variate SABR model with both \beta parameters equal to 1 and three correlation parameters, which extends the work of Bayer,Friz&Laurence [BFL14] for the multivariate Black-Scholes flat vol model , and we show that the BFL14%DIFDELCMD < ] %%% result has to be adjusted for strikes above a certain critical value K^* where the convolution density admits a higher order saddlepoint .
Revised: We compute a sharp small-time estimate for the price of a basket call under a bi-variate SABR model with both \beta parameters equal to 1 and three correlation parameters, which extends the work of Bayer,Friz&Laurence [BFL14] for the multivariate Black-Scholes flat vol model , and we show that the BFL14%DIFDELCMD < ] %%% .
Edit intent: meaning-changed
Original:  In this framework, we derive necessary and sufficient conditions for a reference probability measure to be a local martingale measure for the large financial market of credit risky bonds, also considering general recovery schemes . To this end, we establish a new Fubini theorem with respect to a random measure by means of enlargement of filtrations techniques .
Revised:  In this framework, we derive necessary and sufficient conditions for a reference probability measure to be a local martingale measure for the large financial market of credit risky bonds, also considering general recovery schemes .
Edit intent: coherence
Original:  Beyond simply gating diffusion, this system is able to generate substantial concentration gradients, at the energetic expense of guanosine triphosphate (GTP) hydrolysis.
Revised:  Beyond simply gating diffusion, the system of nuclear pores and associated transport receptors is able to generate substantial concentration gradients, at the energetic expense of guanosine triphosphate (GTP) hydrolysis.
Edit intent: meaning-changed
Original:   Abstracting the biological paradigm, we examine this transport system as a thermodynamic machine of solution demixing.
Revised:  In contrast to conventional approaches to demixing such as reverse osmosis or dialysis, the biological system operates continuously, without application of cyclic changes in pressure or solution exchange. Abstracting the biological paradigm, we examine this transport system as a thermodynamic machine of solution demixing.
Edit intent: meaning-changed
Original:  Building on the construct of free energy transduction and biochemical kinetics, we find conditions for stable operation and optimization of the concentration gradients as a function of dissipation in the form of entropy production . In contrast to conventional engineering approaches to demixing such as reverse osmosis, the biological system operates continuously, without application of cyclic changes in pressure or other intrinsic thermodynamic parameters .
Revised:  Building on the construct of free energy transduction and biochemical kinetics, we find conditions for stable operation and optimization of the concentration gradients as a function of dissipation in the form of entropy production .
Edit intent: coherence
Original:  We consider two free-energy models where the contributions of base pairs are additive and independent: the purely combinatorial Watson-Crick model, which only allows equally-contributing A -- U and C -- G base pairs, and the real-valued Nussinov-Jacobson model, which associates arbitrary energies to A--U , C -- G and G -- U base pairs.
Revised:  We consider two free-energy models where the contributions of base pairs are additive and independent: the purely combinatorial Watson-Crick model, which only allows equally-contributing A -- U and C -- G base pairs, and the real-valued Nussinov-Jacobson model, which associates arbitrary energies to A -- U , C -- G and G -- U base pairs.
Edit intent: fluency
Original:  Finally, we consider a structure-approximating relaxation of the design, and provide a \Theta(n) algorithm which, given a structure S that avoids two trivially non-designable motifs, transforms S into a designable structure constructively by adding at most one base-pair to each of its stems . Acknowledgements The authors would like to thank C\'edric Chauve (Simon Fraser University) for fruitful discussions and constructive criticisms. YP is greatly indebted to the French Centre National de la Recherche Scientifique and the Pacific Institute for the Mathematical Sciences for funding an extended visit at the Simon Fraser University .
Revised:  Finally, we consider a structure-approximating relaxation of the design, and provide a \Theta(n) algorithm which, given a structure S that avoids two trivially non-designable motifs, transforms S into a designable structure constructively by adding at most one base-pair to each of its stems .
Edit intent: coherence
Original:  We  apply our results to the case of empirical correlation matrices, that allow us to estimate reliably the width of the spectrum of the 'true ' underlying correlation matrix, even when the latter is very close to the identity matrix .
Revised:  We find that the overlaps only depend on measurable quantities, and do not require the knowledge of the underlying "true" (noiseless) matrices. We apply our results to the case of empirical correlation matrices, that allow us to estimate reliably the width of the spectrum of the 'true ' underlying correlation matrix, even when the latter is very close to the identity matrix .
Edit intent: meaning-changed
Original:  We  apply our results to the case of empirical correlation matrices, that allow us to estimate reliably the width of the spectrum of the 'true ' underlying correlation matrix, even when the latter is very close to the identity matrix .
Revised:  We apply our results to the case of empirical correlation matrices, that allow us to estimate reliably the width of the spectrum of the true correlation matrix, even when the latter is very close to the identity matrix .
Edit intent: clarity
Original:  We  apply our results to the case of empirical correlation matrices, that allow us to estimate reliably the width of the spectrum of the 'true ' underlying correlation matrix, even when the latter is very close to the identity matrix .
Revised:  We apply our results to the case of empirical correlation matrices, that allow us to estimate reliably the width of the spectrum of the 'true ' underlying correlation matrix, even when the latter is very close to the identity .
Edit intent: coherence
Original:  We further show that the transition rate exponentially decreases with the number of gene circuits when the transition path does not bifurcate, while a bifurcation softens this decrease. Finally we show that multiplicative noises facilitate the bifurcation of transition paths .
Revised:  We further show that the transition rate exponentially decreases with the number of gene circuits when the transition path does not bifurcate, while a bifurcation facilitates the transition by lowering the quasi-potential energy barrier .
Edit intent: meaning-changed
Original:  We provide a local parametric estimator  of \Theta based on the original (non time-varying) parametric model estimator and conditions under which we can show consistency and the corresponding limit distribution.
Revised:  We provide a local parametric estimator (LPE) of \Theta based on the original (non time-varying) parametric model estimator and conditions under which we can show consistency and the corresponding limit distribution.
Edit intent: meaning-changed
Original:  We provide a local parametric estimator  of \Theta based on the original (non time-varying) parametric model estimator and conditions under which we can show consistency and the corresponding limit distribution. We show that the LPM class contains some models that come from popular problems in the high-frequency financial econometrics literature (estimating volatility, high-frequency covariance, integrated betas, leverage effect, volatility of volatility), as well as a new general asset-price diffusion model which allows for endogenous observations and time-varying noise which can be auto-correlated and correlated with the efficient price and the sampling times. Finally, as an example of how to apply the limit theory provided in this paper, we build a time-varying friction parameter extension of the (semiparametric) model with uncertainty zones (Robert and Rosenbaum (2012)) , which is noisy and endogenous, and we show that we can verify the conditions for the estimation of integrated volatility  .
Revised:  We provide a local parametric estimator of \Theta based on the original (non time-varying) parametric model estimator and conditions under which we can show the central limit theorem. As an example of how to apply the limit theory provided in this paper, we build a time-varying friction parameter extension of the (semiparametric) model with uncertainty zones (Robert and Rosenbaum (2012)) , which is noisy and endogenous, and we show that we can verify the conditions for the estimation of integrated volatility .
Edit intent: clarity
Original:  Finally, as an example of how to apply the limit theory provided in this paper, we build a time-varying friction parameter extension of the (semiparametric) model with uncertainty zones (Robert and Rosenbaum (2012)) , which is noisy and endogenous, and we show that we can verify the conditions for the estimation of integrated volatility  .
Revised:  Finally, as an example of how to apply the limit theory provided in this paper, we build a time-varying friction parameter extension of the (semiparametric) model with uncertainty zones (Robert and Rosenbaum (2012)) and we show that we can verify the conditions for the estimation of integrated volatility .
Edit intent: coherence
Original:  Finally, as an example of how to apply the limit theory provided in this paper, we build a time-varying friction parameter extension of the (semiparametric) model with uncertainty zones (Robert and Rosenbaum (2012)) , which is noisy and endogenous, and we show that we can verify the conditions for the estimation of integrated volatility  .
Revised:  Finally, as an example of how to apply the limit theory provided in this paper, we build a time-varying friction parameter extension of the (semiparametric) model with uncertainty zones (Robert and Rosenbaum (2012)) , which is noisy and endogenous, and we show that we can verify the conditions for the estimation of integrated volatility . Moreover, practical applications in time series, such as the optimal block length and local bias-correction, are discussed and numerical simulations are carried on the local MLE of a time-varying parameter MA(1) model to illustrate them .
Edit intent: meaning-changed
Original:  As an example of how to apply the limit theory provided in this paper, we build a time-varying friction parameter extension of the (semiparametric) model with uncertainty zones (Robert and Rosenbaum (2012)) and we show that we can verify the conditions for the estimation of integrated volatility.
Revised:  The framework is restricted to the (semiparametric) model with uncertainty zones (Robert and Rosenbaum (2012)) and we show that we can verify the conditions for the estimation of integrated volatility.
Edit intent: clarity
Original:  As an example of how to apply the limit theory provided in this paper, we build a time-varying friction parameter extension of the (semiparametric) model with uncertainty zones (Robert and Rosenbaum (2012)) and we show that we can verify the conditions for the estimation of integrated volatility. Moreover, practical applications in time series, such as the optimal block length and local bias-correction, are discussed and numerical simulations are carried on the local MLE of a time-varying parameter MA(1) model to illustrate them .
Revised:  As an example of how to apply the limit theory provided in this paper, we build a time-varying friction parameter extension of the specific convergence rate n^{1/2 time-varying parameter MA(1) model to illustrate them .
Edit intent: meaning-changed
Original:  Moreover, practical applications in time series, such as the optimal block length and local bias-correction, are discussed and numerical simulations are carried on the local MLE of a time-varying parameter MA(1) model to illustrate them .
Revised:  Moreover, practical applications in time series, such as the optimal block length and local bias-correction, are discussed and numerical simulations are carried on the local MLE of a time-varying model with uncertainty zones and the time-varying MA(1) model to illustrate them .
Edit intent: meaning-changed
Original:  Moreover, practical applications in time series, such as the optimal block length and local bias-correction, are discussed and numerical simulations are carried on the local MLE of a time-varying parameter MA(1) model to illustrate them .
Revised:  Moreover, practical applications in time series, such as the optimal block length and local bias-correction, are discussed and numerical simulations are carried on the local MLE of a time-varying parameter MA(1) .
Edit intent: clarity
Original:  Several examples of LPE , in which the conditions are shown to be satisfied assuming that the microstructure noise is O_p(1/\sqrt{n : estimation of volatility, powers of volatility, high-frequency covariance and volatility when incorporating trading information .
Revised:  Several examples of LPE are studied : estimation of volatility, powers of volatility, high-frequency covariance and volatility when incorporating trading information .
Edit intent: clarity
Original:  Several examples of LPE , in which the conditions are shown to be satisfied assuming that the microstructure noise is O_p(1/\sqrt{n : estimation of volatility, powers of volatility, high-frequency covariance and volatility when incorporating trading information .
Revised:  Several examples of LPE , in which the conditions are shown to be satisfied assuming that the microstructure noise is O_p(1/\sqrt{n : estimation of volatility, powers of volatility, volatility when incorporating trading information .
Edit intent: clarity
Original:  Several examples of LPE , in which the conditions are shown to be satisfied assuming that the microstructure noise is O_p(1/\sqrt{n : estimation of volatility, powers of volatility, high-frequency covariance and volatility when incorporating trading information . The LPE considered in those cases are variations of the maximum likelihood estimator. We also treat the case of time-varying model with uncertainty zones and the time-varying MA(1).
Revised:  Several examples of LPE , in which the conditions are shown to be satisfied assuming that the microstructure noise is O_p(1/\sqrt{n : estimation of volatility, powers of volatility, high-frequency covariance and volatility when incorporating trading information and time-varying MA(1).
Edit intent: clarity
Original: We propose a similarity measure between portfolios with possibly very different numbers of assets and apply it to a historical database of institutional holdings ranging from 1999 to the end of 2013.
Revised: Common asset holding by financial institutions, namely portfolio overlap, is nowadays regarded as an important channel for financial contagion with the potential to trigger fire sales and thus severe losses at the systemic level. In this paper we propose a method to assess the statistical significance of the overlap between pairs of heterogeneously diversified portfolios, which then allows us to build a validated network of financial institutions where links indicate potential contagion channels due to realized portfolio overlaps. The method is implemented on a historical database of institutional holdings ranging from 1999 to the end of 2013.
Edit intent: meaning-changed
Original: We propose a similarity measure between portfolios with possibly very different numbers of assets and apply it to a historical database of institutional holdings ranging from 1999 to the end of 2013. The resulting portfolio similarity measure increased steadily before the  global financial crisis , and reached a maximum when the crisis occurred.
Revised: We propose a similarity measure between portfolios with possibly very different numbers of assets and apply it to a historical database of institutional holdings ranging from 1999 to the end of 2013, but can be in general applied to any bipartite network where the presence of similar sets of neighbors is of interest. We find that the proportion of validated network links (i.e., of statistically significant overlaps) increased steadily before the global financial crisis , and reached a maximum when the crisis occurred.
Edit intent: meaning-changed
Original:  After a sharp drop in 2008, portfolio similarity resumed its growth in 2009, with a notable acceleration in 2013, reaching levels not seen since 2007. 
Revised:  After a sharp drop in 2008, portfolio similarity resumed its growth in 2009, with a notable acceleration in 2013, reaching levels not seen since 2007. We finally show that market trends tend to be amplified in the portfolios identified by the algorithm, such that it is possible to have an informative signal about financial institutions that are about to suffer (enjoy) the most significant losses (gains).
Edit intent: meaning-changed
Original: Over the past half century, portfolio managers have carefully documented the advantages of the equally weighted S\&P 500 portfolio as well as the often overlooked disadvantages of the market capitalization weighted  S\&P 500  portfolio (see Bloom, Uppal, Jacobs, Treynor).
Revised: Over the past half-century, the empirical finance community has produced vast literature on the advantages of the equally weighted S\&P 500 portfolio as well as the often overlooked disadvantages of the market capitalization weighted S\&P 500 portfolio (see Bloom, Uppal, Jacobs, Treynor).
Edit intent: meaning-changed
Original: Over the past half century, portfolio managers have carefully documented the advantages of the equally weighted S\&P 500 portfolio as well as the often overlooked disadvantages of the market capitalization weighted  S\&P 500  portfolio (see Bloom, Uppal, Jacobs, Treynor).
Revised: Over the past half century, portfolio managers have carefully documented the advantages of the equally weighted S\&P 500 portfolio as well as the often overlooked disadvantages of the market capitalization weighted Standard and Poor's ( S\&P 500 portfolio (see Bloom, Uppal, Jacobs, Treynor).
Edit intent: meaning-changed
Original: Over the past half century, portfolio managers have carefully documented the advantages of the equally weighted S\&P 500 portfolio as well as the often overlooked disadvantages of the market capitalization weighted  S\&P 500  portfolio (see Bloom, Uppal, Jacobs, Treynor).
Revised: Over the past half century, portfolio managers have carefully documented the advantages of the equally weighted S\&P 500 portfolio as well as the often overlooked disadvantages of the market capitalization weighted S\&P 500 ) portfolio (see Bloom, Uppal, Jacobs, Treynor).
Edit intent: fluency