STATIONARY PROCESSES THAT LOOK LIKE RANDOM WALKS— THE BOUNDED RANDOM WALK PROCESS IN DISCRETE AND CONTINUOUS TIME
看似随机游走的平稳过程：离散与连续时间有界随机游走
Several economic and financial time series are bounded by an upper and lower finite limit (e.g., interest rates). It is not possible to say that these time series are random walks because random walks are limitless with probability one (as time goes to infinity). Yet, some of these time series behave just like random walks. In this paper we propose a new approach that takes into account these ideas. We propose a discrete-time and a continuous-time process (diffusion process)…