New theory revolutionizes time-series models, paving way for accurate predictions.
The article presents a new theory for estimating time-series models. The researchers show that certain estimators are reliable and accurate for analyzing different types of data, like long-memory models and GARCH models. They prove that these estimators are consistent, converge quickly, and follow a normal pattern in the long run. This theory can help in understanding and predicting various time-series patterns in economics and other fields.