arXiv subjects

Bin Peng

Publications and source records attributed to Bin Peng.

At least 19 recordsLinked to original sources

arXiv2026

Identification, Estimation and Inference Based on Structural Error Projection

This paper proposes to project and expand the conditional mean function of the structural error given the regressors in an endogenous regression under consideration. As the projection process is semiparametric, we define this procedure as a semiparametric projection (SP) method to address endogeneity in regression models by internally constructed instrumental variables. The SP method is applicable to many classes of regression models associated with endogeneity, such as linear, nonlinear, and non- and semi-parametric models, and provides a simple and computationally tractable alternative to conventional instrumental variable approaches available from the existing literature. This paper establishes identification conditions and derives the asymptotic properties of the resulting estimators. It then proposes a simple LASSO selection method to examine the finite-sample performance of both the proposed method and the established theory by simulated and real data examples.

econ.EM↗

arXiv2026

SkyReels-V4: Multi-modal Video-Audio Generation, Inpainting and Editing model

SkyReels V4 is a unified multi modal video foundation model for joint video audio generation, inpainting, and editing. The model adopts a dual stream Multimodal Diffusion Transformer (MMDiT) architecture, where one branch synthesizes video and the other generates temporally aligned audio, while sharing a powerful text encoder based on the Multimodal Large Language Models (MLLM). SkyReels V4 accepts rich multi modal instructions, including text, images, video clips, masks, and audio references. By combining the MLLMs multi modal instruction following capability with in context learning in the video branch MMDiT, the model can inject fine grained visual guidance under complex conditioning, while the audio branch MMDiT simultaneously leverages audio references to guide sound generation. On the video side, we adopt a channel concatenation formulation that unifies a wide range of inpainting style tasks, such as image to video, video extension, and video editing under a single interface, and naturally extends to vision referenced inpainting and editing via multi modal prompts. SkyReels V4 supports up to 1080p resolution, 32 FPS, and 15 second duration, enabling high fidelity, multi shot, cinema level video generation with synchronized audio. To make such high resolution, long-duration generation computationally feasible, we introduce an efficiency strategy: Joint generation of low resolution full sequences and high-resolution keyframes, followed by dedicated super-resolution and frame interpolation models. To our knowledge, SkyReels V4 is the first video foundation model that simultaneously supports multi-modal input, joint video audio generation, and a unified treatment of generation, inpainting, and editing, while maintaining strong efficiency and quality at cinematic resolutions and durations.

cs.CV↗

arXiv2026

Inference for High-Dimensional Local Projection

This paper rigorously analyzes the properties of the local projection (LP) methodology within a high-dimensional (HD) framework, with a central focus on achieving robust long-horizon inference. We integrate a general dependence structure into h-step ahead forecasting models via a flexible specification of the residual terms. Additionally, we study the corresponding HD covariance matrix estimation, explicitly addressing the complexity arising from the long-horizon setting. Extensive Monte Carlo simulations are conducted to substantiate the derived theoretical findings. In the empirical study, we utilize the proposed HD LP framework to study the impact of business news attention on U.S. industry-level stock volatility.

econ.EM↗

arXiv2025

Optical modulation of Gate-Induced Electron Trapping via Persistent Photoconductivity in STO/AlOx Heterostructures

The dynamic interplay between light and electric field control of charge states lies at the heart of developing multifunctional optoelectronic devices. While persistent photoconductivity (PPC) and gate-voltage (VG)-induced electron trapping are well-known phenomena in oxide heterostructures, their mutual coupling remains poorly explored. Here, we report that the non-equilibrium state established by PPC can effectively modulate the efficacy of VG-induced electron trapping in a STO/Al heterostructure. The PPC, characterized by a slow relaxation (8.5 hours at 4 K) after sub-illumination, originates from the re-trapping of photoexcited carriers into deep-level states. In contrast, VG-induced trapping, governed by shallow states, exhibits much faster dynamics ({100 - 400 s). Crucially, we discover that the strength of VG-induced trapping is not constant but is dynamically modulated by the PPC relaxation process. The trapping amplitude is strongly amplified after illumination and recovers only after the deep-level states are substantially refilled, precisely following the PPC relaxation time constant. Furthermore, the electron trapping effect diminishes with increasing temperature and vanishes near the ferroelastic phase transition of STO (110 K), confirming that ferroelastic twin walls and associated oxygen vacancy clusters are the physical origin of the traps. Our findings reveal a novel optical gating mechanism for electron trapping, paving the way for designing non-volatile, optically programmable electronic devices.

physics.app-ph↗

arXiv2025

Panel Data Estimation and Inference: Homogeneity versus Heterogeneity

In this paper, we define an underlying data generating process that allows for different magnitudes of cross-sectional dependence, along with time series autocorrelation. This is achieved via high-dimensional moving average processes of infinite order (HDMA($\infty$)). Our setup and investigation integrates and enhances homogenous and heterogeneous panel data estimation and testing in a unified way. To study HDMA($\infty$), we extend the Beveridge-Nelson decomposition to a high-dimensional time series setting, and derive a complete toolkit set. We exam homogeneity versus heterogeneity using Gaussian approximation, a prevalent technique for establishing uniform inference. For post-testing inference, we derive central limit theorems through Edgeworth expansions for both homogenous and heterogeneous settings. Additionally, we showcase the practical relevance of the established asymptotic theory by (1). connecting our results with the literature on grouping structure analysis, (2). examining a nonstationary panel data generating process, and (3). revisiting the common correlated effects (CCE) estimators. Finally, we verify our theoretical findings via extensive numerical studies using both simulated and real datasets.

econ.EM↗

arXiv2024

Microwave field vector detector based on the nonresonant spin rectification effect

Normal microwave (MW) electromagnetic field detectors convert microwave power into voltages, which results in the loss of the vector characteristics of the microwave field. In this work, we developed a MW magnetic field (h-field) vector detector based on the nonresonant spin rectification effect. By measuring and analyzing the angle dependence of the rectification voltages under nonresonant conditions, we can extract the three components of the h-field. As an initial test of this method, we obtained the h-field distributions at 5.4 GHz generated by a coplanar waveguide with sub-wavelength resolution. Compared to methods using ferromagnetic resonance, this technique offers a faster and more convenient way to determine the spatial distribution of the h-field, which can be used for MW integrated circuit optimization and fault diagnosis.

physics.app-ph↗

arXiv2024

A Robust Residual-Based Test for Structural Changes in Factor Models

In this paper, we propose an easy-to-implement residual-based specification testing procedure for detecting structural changes in factor models, which is powerful against both smooth and abrupt structural changes with unknown break dates. The proposed test is robust against the over-specified number of factors, and serially and crosssectionally correlated error processes. A new central limit theorem is given for the quadratic forms of panel data with dependence over both dimensions, thereby filling a gap in the literature. We establish the asymptotic properties of the proposed test statistic, and accordingly develop a simulation-based scheme to select critical value in order to improve finite sample performance. Through extensive simulations and a real-world application, we confirm our theoretical results and demonstrate that the proposed test exhibits desirable size and power in practice.

econ.EM↗

arXiv2024

Robust Estimation and Inference for High-Dimensional Panel Data Models

This paper provides the relevant literature with a complete toolkit for conducting robust estimation and inference about the parameters of interest involved in a high-dimensional panel data framework. Specifically, (1) we allow for non-Gaussian, serially and cross-sectionally correlated and heteroskedastic error processes, (2) we develop an estimation method for high-dimensional long-run covariance matrix using a thresholded estimator, (3) we also allow for the number of regressors to grow faster than the sample size. Methodologically and technically, we develop two Nagaev--types of concentration inequalities: one for a partial sum and the other for a quadratic form, subject to a set of easily verifiable conditions. Leveraging these two inequalities, we derive a non-asymptotic bound for the LASSO estimator, achieve asymptotic normality via the node-wise LASSO regression, and establish a sharp convergence rate for the thresholded heteroskedasticity and autocorrelation consistent (HAC) estimator. We demonstrate the practical relevance of these theoretical results by investigating a high-dimensional panel data model with interactive effects. Moreover, we conduct extensive numerical studies using simulated and real data examples.

econ.EM↗

arXiv2024

Estimation and Inference for Three-Dimensional Panel Data Models

Hierarchical panel data models have recently garnered significant attention. This study contributes to the relevant literature by introducing a novel three-dimensional (3D) hierarchical panel data model, which integrates panel regression with three sets of latent factor structures: one set of global factors and two sets of local factors. Instead of aggregating latent factors from various nodes, as seen in the literature of distributed principal component analysis (PCA), we propose an estimation approach capable of recovering the parameters of interest and disentangling latent factors at different levels and across different dimensions. We establish an asymptotic theory and provide a bootstrap procedure to obtain inference for the parameters of interest while accommodating various types of cross-sectional dependence and time series autocorrelation. Finally, we demonstrate the applicability of our framework by examining productivity convergence in manufacturing industries worldwide.

econ.EM↗

arXiv2023

Estimation and Inference for a Class of Generalized Hierarchical Models

In this paper, we consider estimation and inference for the unknown parameters and function involved in a class of generalized hierarchical models. Such models are of great interest in the literature of neural networks (such as Bauer and Kohler, 2019). We propose a rectified linear unit (ReLU) based deep neural network (DNN) approach, and contribute to the design of DNN by i) providing more transparency for practical implementation, ii) defining different types of sparsity, iii) showing the differentiability, iv) pointing out the set of effective parameters, and v) offering a new variant of rectified linear activation function (ReLU), etc. Asymptotic properties are established accordingly, and a feasible procedure for the purpose of inference is also proposed. We conduct extensive numerical studies to examine the finite-sample performance of the estimation methods, and we also evaluate the empirical relevance and applicability of the proposed models and estimation methods to real data.

econ.EM↗

arXiv2023

Smoothing the Nonsmoothness

To tackle difficulties for theoretical studies in situations involving nonsmooth functions, we propose a sequence of infinitely differentiable functions to approximate the nonsmooth function under consideration. A rate of approximation is established and an illustration of its application is then provided.

econ.EM↗

arXiv2023

Localized Neural Network Modelling of Time Series: A Case Study on US Monetary Policy

In this paper, we investigate a semiparametric regression model under the context of treatment effects via a localized neural network (LNN) approach. Due to a vast number of parameters involved, we reduce the number of effective parameters by (i) exploring the use of identification restrictions; and (ii) adopting a variable selection method based on the group-LASSO technique. Subsequently, we derive the corresponding estimation theory and propose a dependent wild bootstrap procedure to construct valid inferences accounting for the dependence of data. Finally, we validate our theoretical findings through extensive numerical studies. In an empirical study, we revisit the impacts of a tightening monetary policy action on a variety of economic variables, including short-/long-term interest rate, inflation, unemployment rate, industrial price and equity return via the newly proposed framework using a monthly dataset of the US.

econ.EM↗

arXiv2023

Time-Varying Vector Error-Correction Models: Estimation and Inference

This paper considers a time-varying vector error-correction model that allows for different time series behaviours (e.g., unit-root and locally stationary processes) to interact with each other to co-exist. From practical perspectives, this framework can be used to estimate shifts in the predictability of non-stationary variables, test whether economic theories hold periodically, etc. We first develop a time-varying Granger Representation Theorem, which facilitates the establishment of asymptotic properties for the model, and then propose estimation and inferential methods and theory for both short-run and long-run coefficients. We also propose an information criterion to estimate the lag length, a singular-value ratio test to determine the cointegration rank, and a hypothesis test to examine the parameter stability. To validate the theoretical findings, we conduct extensive simulations. Finally, we demonstrate the empirical relevance by applying the framework to investigate the rational expectations hypothesis of the U.S. term structure.

econ.EM↗

arXiv2023

Effect of atomic anti-site disorder on the AMR in FeCo alloys

In order to understand the anti-site disorder effect on the anisotropic magnetoresistance (AMR) effect in alloys, $\rm{Fe}_{50}Co_{50}$ alloys were studied in this work using the fully relativistic spin-polarized screened (KKR) method. The anti-site effect was modeled by interchanging Fe and Co atoms and treated by the coherent potential approximation (CPA). We find that the anti-site disorder broadens the spectral function and decreases the conductivity. Our work emphasizes that the absolute variations of resistivity under magnetic moment rotation are less affected by atomic disorders. The annealing procedure improves the AMR by reduction of the total resistivity. At the same time, we also find that the fourth-order term in the angular dependent resistivity becomes weaker when the disorder increases, resulting from increased scattering of the states around the band-crossing.

cond-mat.mtrl-sci↗

arXiv2023

Estimation of Grouped Time-Varying Network Vector Autoregression Models

This paper introduces a flexible time-varying network vector autoregressive model framework for large-scale time series. A latent group structure is imposed on the heterogeneous and node-specific time-varying momentum and network spillover effects so that the number of unknown time-varying coefficients to be estimated can be reduced considerably. A classic agglomerative clustering algorithm with nonparametrically estimated distance matrix is combined with a ratio criterion to consistently estimate the latent group number and membership. A post-grouping local linear smoothing method is proposed to estimate the group-specific time-varying momentum and network effects, substantially improving the convergence rates of the preliminary estimates which ignore the latent structure. We further modify the methodology and theory to allow for structural breaks in either the group membership, group number or group-specific coefficient functions. Numerical studies including Monte-Carlo simulation and an empirical application are presented to examine the finite-sample performance of the developed model and methodology.

stat.ME↗

arXiv2023

Robust M-Estimation for Additive Single-Index Cointegrating Time Series Models

Robust M-estimation uses loss functions, such as least absolute deviation (LAD), quantile loss and Huber's loss, to construct its objective function, in order to for example eschew the impact of outliers, whereas the difficulty in analysing the resultant estimators rests on the nonsmoothness of these losses. Generalized functions have advantages over ordinary functions in several aspects, especially generalized functions possess derivatives of any order. Generalized functions incorporate local integrable functions, the so-called regular generalized functions, while the so-called singular generalized functions (e.g. Dirac delta function) can be obtained as the limits of a sequence of sufficient smooth functions, so-called regular sequence in generalized function context. This makes it possible to use these singular generalized functions through approximation. Nevertheless, a significant contribution of this paper is to establish the convergence rate of regular sequence to nonsmooth loss that answers a call from the relevant literature. For parameter estimation where objective function may be nonsmooth, this paper first shows as a general paradigm that how generalized function approach can be used to tackle the nonsmooth loss functions in Section two using a very simple model. This approach is of general interest and applicability. We further use the approach in robust M-estimation for additive single-index cointegrating time series models; the asymptotic theory is established for the proposed estimators. We evaluate the finite-sample performance of the proposed estimation method and theory by both simulated data and an empirical analysis of predictive regression of stock returns.

econ.EM↗

arXiv2022

Retrieval Based Time Series Forecasting

Time series data appears in a variety of applications such as smart transportation and environmental monitoring. One of the fundamental problems for time series analysis is time series forecasting. Despite the success of recent deep time series forecasting methods, they require sufficient observation of historical values to make accurate forecasting. In other words, the ratio of the output length (or forecasting horizon) to the sum of the input and output lengths should be low enough (e.g., 0.3). As the ratio increases (e.g., to 0.8), the uncertainty for the forecasting accuracy increases significantly. In this paper, we show both theoretically and empirically that the uncertainty could be effectively reduced by retrieving relevant time series as references. In the theoretical analysis, we first quantify the uncertainty and show its connections to the Mean Squared Error (MSE). Then we prove that models with references are easier to learn than models without references since the retrieved references could reduce the uncertainty. To empirically demonstrate the effectiveness of the retrieval based time series forecasting models, we introduce a simple yet effective two-stage method, called ReTime consisting of a relational retrieval and a content synthesis. We also show that ReTime can be easily adapted to the spatial-temporal time series and time series imputation settings. Finally, we evaluate ReTime on real-world datasets to demonstrate its effectiveness.

cs.AI↗

arXiv2022

Time-Varying Multivariate Causal Processes

In this paper, we consider a wide class of time-varying multivariate causal processes which nests many classic and new examples as special cases. We first prove the existence of a weakly dependent stationary approximation for our model which is the foundation to initiate the theoretical development. Afterwards, we consider the QMLE estimation approach, and provide both point-wise and simultaneous inferences on the coefficient functions. In addition, we demonstrate the theoretical findings through both simulated and real data examples. In particular, we show the empirical relevance of our study using an application to evaluate the conditional correlations between the stock markets of China and U.S. We find that the interdependence between the two stock markets is increasing over time.

econ.EM↗