{"bundle_type":"pith_open_graph_bundle","bundle_version":"1.0","pith_number":"pith:2011:B54LLJ64UGXLTWTFG5KBZRF46G","short_pith_number":"pith:B54LLJ64","canonical_record":{"source":{"id":"1110.5789","kind":"arxiv","version":2},"metadata":{"license":"http://arxiv.org/licenses/nonexclusive-distrib/1.0/","primary_cat":"q-fin.ST","submitted_at":"2011-10-26T13:43:59Z","cross_cats_sorted":["stat.AP"],"title_canon_sha256":"361987d77fa72f4dae163097651bfe60b06975e42506c1c55a597a1783440b99","abstract_canon_sha256":"dced4df2637c70ea140f23f7484a5b5bd97fe333ff445c292c7b72fb1a0031a5"},"schema_version":"1.0"},"canonical_sha256":"0f78b5a7dca1aeb9da6537541cc4bcf18a85a8d96b264f7ebe4596f2118acfbf","source":{"kind":"arxiv","id":"1110.5789","version":2},"source_aliases":[{"alias_kind":"arxiv","alias_value":"1110.5789","created_at":"2026-05-18T03:59:13Z"},{"alias_kind":"arxiv_version","alias_value":"1110.5789v2","created_at":"2026-05-18T03:59:13Z"},{"alias_kind":"doi","alias_value":"10.48550/arxiv.1110.5789","created_at":"2026-05-18T03:59:13Z"},{"alias_kind":"pith_short_12","alias_value":"B54LLJ64UGXL","created_at":"2026-05-18T12:26:24Z"},{"alias_kind":"pith_short_16","alias_value":"B54LLJ64UGXLTWTF","created_at":"2026-05-18T12:26:24Z"},{"alias_kind":"pith_short_8","alias_value":"B54LLJ64","created_at":"2026-05-18T12:26:24Z"}],"events":[{"event_type":"record_created","subject_pith_number":"pith:2011:B54LLJ64UGXLTWTFG5KBZRF46G","target":"record","payload":{"canonical_record":{"source":{"id":"1110.5789","kind":"arxiv","version":2},"metadata":{"license":"http://arxiv.org/licenses/nonexclusive-distrib/1.0/","primary_cat":"q-fin.ST","submitted_at":"2011-10-26T13:43:59Z","cross_cats_sorted":["stat.AP"],"title_canon_sha256":"361987d77fa72f4dae163097651bfe60b06975e42506c1c55a597a1783440b99","abstract_canon_sha256":"dced4df2637c70ea140f23f7484a5b5bd97fe333ff445c292c7b72fb1a0031a5"},"schema_version":"1.0"},"canonical_sha256":"0f78b5a7dca1aeb9da6537541cc4bcf18a85a8d96b264f7ebe4596f2118acfbf","receipt":{"kind":"pith_receipt","key_id":"pith-v1-2026-05","algorithm":"ed25519","signed_at":"2026-05-18T03:59:13.711742Z","signature_b64":"tuWTEqvAgqefwU5l4DqWEQifbSNDULkKS0eKrIrN7aaPWMKACk38m1CAPqUNCBJQuD57Ngy7DQEw/ppJm9qvBg==","signed_message":"canonical_sha256_bytes","builder_version":"pith-number-builder-2026-05-17-v1","receipt_version":"0.3","canonical_sha256":"0f78b5a7dca1aeb9da6537541cc4bcf18a85a8d96b264f7ebe4596f2118acfbf","last_reissued_at":"2026-05-18T03:59:13.710885Z","signature_status":"signed_v1","first_computed_at":"2026-05-18T03:59:13.710885Z","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54"},"source_kind":"arxiv","source_id":"1110.5789","source_version":2,"attestation_state":"computed"},"signer":{"signer_id":"pith.science","signer_type":"pith_registry","key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54"},"created_at":"2026-05-18T03:59:13Z","supersedes":[],"prev_event":null,"signature":{"signature_status":"signed_v1","algorithm":"ed25519","key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","signature_b64":"K3TxZhepwSfVtzkn0lcSc+yggqOYYqRXgNnxGL5qoDK8kHsoNqzzLah7g9lptCkOyk7kkUOlaJfHJCxufxPtAw==","signed_message":"open_graph_event_sha256_bytes","signed_at":"2026-06-09T23:10:45.371051Z"},"content_sha256":"6a6775061a6a1f7c6a6fd6d47712cf1f438bbb9e6253e5faa01b8a84c0141809","schema_version":"1.0","event_id":"sha256:6a6775061a6a1f7c6a6fd6d47712cf1f438bbb9e6253e5faa01b8a84c0141809"},{"event_type":"graph_snapshot","subject_pith_number":"pith:2011:B54LLJ64UGXLTWTFG5KBZRF46G","target":"graph","payload":{"graph_snapshot":{"paper":{"title":"An empirical test for Eurozone contagion using an asset-pricing model with heavy-tailed stochastic volatility","license":"http://arxiv.org/licenses/nonexclusive-distrib/1.0/","headline":"","cross_cats":["stat.AP"],"primary_cat":"q-fin.ST","authors_text":"James G. Scott, Nicholas G. Polson","submitted_at":"2011-10-26T13:43:59Z","abstract_excerpt":"This paper proposes an empirical test of financial contagion in European equity markets during the tumultuous period of 2008-2011. Our analysis shows that traditional GARCH and Gaussian stochastic-volatility models are unable to explain two key stylized features of global markets during presumptive contagion periods: shocks to aggregate market volatility can be sudden and explosive, and they are associated with specific directional biases in the cross-section of country-level returns. Our model repairs this deficit by assuming that the random shocks to volatility are heavy-tailed and correlate"},"claims":{"count":0,"items":[],"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"source":{"id":"1110.5789","kind":"arxiv","version":2},"verdict":{"id":null,"model_set":{},"created_at":null,"strongest_claim":"","one_line_summary":"","pipeline_version":null,"weakest_assumption":"","pith_extraction_headline":""},"references":{"count":0,"sample":[],"resolved_work":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57","internal_anchors":0},"formal_canon":{"evidence_count":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"author_claims":{"count":0,"strong_count":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"builder_version":"pith-number-builder-2026-05-17-v1"},"verdict_id":null},"signer":{"signer_id":"pith.science","signer_type":"pith_registry","key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54"},"created_at":"2026-05-18T03:59:13Z","supersedes":[],"prev_event":null,"signature":{"signature_status":"signed_v1","algorithm":"ed25519","key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","signature_b64":"eAax7Hp3gdsSNu0x2cof02ZraDW6Ud6Ljswx5CEpVeKCd0lrEF3/hQ/+mptaTszTyGK0UsIeXKvt1s+5alcNBQ==","signed_message":"open_graph_event_sha256_bytes","signed_at":"2026-06-09T23:10:45.371713Z"},"content_sha256":"5d466c691411db033a85e33220388553bb6c11e7d350c9f62ac3337567a45627","schema_version":"1.0","event_id":"sha256:5d466c691411db033a85e33220388553bb6c11e7d350c9f62ac3337567a45627"}],"timestamp_proofs":[],"mirror_hints":[{"mirror_type":"https","name":"Pith Resolver","base_url":"https://pith.science","bundle_url":"https://pith.science/pith/B54LLJ64UGXLTWTFG5KBZRF46G/bundle.json","state_url":"https://pith.science/pith/B54LLJ64UGXLTWTFG5KBZRF46G/state.json","well_known_bundle_url":"https://pith.science/.well-known/pith/B54LLJ64UGXLTWTFG5KBZRF46G/bundle.json","status":"primary"}],"public_keys":[{"key_id":"pith-v1-2026-05","algorithm":"ed25519","format":"raw","public_key_b64":"stVStoiQhXFxp4s2pdzPNoqVNBMojDU/fJ2db5S3CbM=","public_key_hex":"b2d552b68890857171a78b36a5dccf368a953413288c353f7c9d9d6f94b709b3","fingerprint_sha256_b32_first128bits":"RVFV5Z2OI2J3ZUO7ERDEBCYNKS","fingerprint_sha256_hex":"8d4b5ee74e4693bcd1df2446408b0d54","rotates_at":null,"url":"https://pith.science/pith-signing-key.json","notes":"Pith uses this Ed25519 key to sign canonical record SHA-256 digests. Verify with: ed25519_verify(public_key, message=canonical_sha256_bytes, signature=base64decode(signature_b64))."}],"merge_version":"pith-open-graph-merge-v1","built_at":"2026-06-09T23:10:45Z","links":{"resolver":"https://pith.science/pith/B54LLJ64UGXLTWTFG5KBZRF46G","bundle":"https://pith.science/pith/B54LLJ64UGXLTWTFG5KBZRF46G/bundle.json","state":"https://pith.science/pith/B54LLJ64UGXLTWTFG5KBZRF46G/state.json","well_known_bundle":"https://pith.science/.well-known/pith/B54LLJ64UGXLTWTFG5KBZRF46G/bundle.json"},"state":{"state_type":"pith_open_graph_state","state_version":"1.0","pith_number":"pith:2011:B54LLJ64UGXLTWTFG5KBZRF46G","merge_version":"pith-open-graph-merge-v1","event_count":2,"valid_event_count":2,"invalid_event_count":0,"equivocation_count":0,"current":{"canonical_record":{"metadata":{"abstract_canon_sha256":"dced4df2637c70ea140f23f7484a5b5bd97fe333ff445c292c7b72fb1a0031a5","cross_cats_sorted":["stat.AP"],"license":"http://arxiv.org/licenses/nonexclusive-distrib/1.0/","primary_cat":"q-fin.ST","submitted_at":"2011-10-26T13:43:59Z","title_canon_sha256":"361987d77fa72f4dae163097651bfe60b06975e42506c1c55a597a1783440b99"},"schema_version":"1.0","source":{"id":"1110.5789","kind":"arxiv","version":2}},"source_aliases":[{"alias_kind":"arxiv","alias_value":"1110.5789","created_at":"2026-05-18T03:59:13Z"},{"alias_kind":"arxiv_version","alias_value":"1110.5789v2","created_at":"2026-05-18T03:59:13Z"},{"alias_kind":"doi","alias_value":"10.48550/arxiv.1110.5789","created_at":"2026-05-18T03:59:13Z"},{"alias_kind":"pith_short_12","alias_value":"B54LLJ64UGXL","created_at":"2026-05-18T12:26:24Z"},{"alias_kind":"pith_short_16","alias_value":"B54LLJ64UGXLTWTF","created_at":"2026-05-18T12:26:24Z"},{"alias_kind":"pith_short_8","alias_value":"B54LLJ64","created_at":"2026-05-18T12:26:24Z"}],"graph_snapshots":[{"event_id":"sha256:5d466c691411db033a85e33220388553bb6c11e7d350c9f62ac3337567a45627","target":"graph","created_at":"2026-05-18T03:59:13Z","signer":{"key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","signer_id":"pith.science","signer_type":"pith_registry"},"payload":{"graph_snapshot":{"author_claims":{"count":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57","strong_count":0},"builder_version":"pith-number-builder-2026-05-17-v1","claims":{"count":0,"items":[],"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"formal_canon":{"evidence_count":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"paper":{"abstract_excerpt":"This paper proposes an empirical test of financial contagion in European equity markets during the tumultuous period of 2008-2011. Our analysis shows that traditional GARCH and Gaussian stochastic-volatility models are unable to explain two key stylized features of global markets during presumptive contagion periods: shocks to aggregate market volatility can be sudden and explosive, and they are associated with specific directional biases in the cross-section of country-level returns. Our model repairs this deficit by assuming that the random shocks to volatility are heavy-tailed and correlate","authors_text":"James G. Scott, Nicholas G. Polson","cross_cats":["stat.AP"],"headline":"","license":"http://arxiv.org/licenses/nonexclusive-distrib/1.0/","primary_cat":"q-fin.ST","submitted_at":"2011-10-26T13:43:59Z","title":"An empirical test for Eurozone contagion using an asset-pricing model with heavy-tailed stochastic volatility"},"references":{"count":0,"internal_anchors":0,"resolved_work":0,"sample":[],"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"source":{"id":"1110.5789","kind":"arxiv","version":2},"verdict":{"created_at":null,"id":null,"model_set":{},"one_line_summary":"","pipeline_version":null,"pith_extraction_headline":"","strongest_claim":"","weakest_assumption":""}},"verdict_id":null}}],"author_attestations":[],"timestamp_anchors":[],"storage_attestations":[],"citation_signatures":[],"replication_records":[],"corrections":[],"mirror_hints":[],"record_created":{"event_id":"sha256:6a6775061a6a1f7c6a6fd6d47712cf1f438bbb9e6253e5faa01b8a84c0141809","target":"record","created_at":"2026-05-18T03:59:13Z","signer":{"key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","signer_id":"pith.science","signer_type":"pith_registry"},"payload":{"attestation_state":"computed","canonical_record":{"metadata":{"abstract_canon_sha256":"dced4df2637c70ea140f23f7484a5b5bd97fe333ff445c292c7b72fb1a0031a5","cross_cats_sorted":["stat.AP"],"license":"http://arxiv.org/licenses/nonexclusive-distrib/1.0/","primary_cat":"q-fin.ST","submitted_at":"2011-10-26T13:43:59Z","title_canon_sha256":"361987d77fa72f4dae163097651bfe60b06975e42506c1c55a597a1783440b99"},"schema_version":"1.0","source":{"id":"1110.5789","kind":"arxiv","version":2}},"canonical_sha256":"0f78b5a7dca1aeb9da6537541cc4bcf18a85a8d96b264f7ebe4596f2118acfbf","receipt":{"algorithm":"ed25519","builder_version":"pith-number-builder-2026-05-17-v1","canonical_sha256":"0f78b5a7dca1aeb9da6537541cc4bcf18a85a8d96b264f7ebe4596f2118acfbf","first_computed_at":"2026-05-18T03:59:13.710885Z","key_id":"pith-v1-2026-05","kind":"pith_receipt","last_reissued_at":"2026-05-18T03:59:13.710885Z","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","receipt_version":"0.3","signature_b64":"tuWTEqvAgqefwU5l4DqWEQifbSNDULkKS0eKrIrN7aaPWMKACk38m1CAPqUNCBJQuD57Ngy7DQEw/ppJm9qvBg==","signature_status":"signed_v1","signed_at":"2026-05-18T03:59:13.711742Z","signed_message":"canonical_sha256_bytes"},"source_id":"1110.5789","source_kind":"arxiv","source_version":2}}},"equivocations":[],"invalid_events":[],"applied_event_ids":["sha256:6a6775061a6a1f7c6a6fd6d47712cf1f438bbb9e6253e5faa01b8a84c0141809","sha256:5d466c691411db033a85e33220388553bb6c11e7d350c9f62ac3337567a45627"],"state_sha256":"51d98393ef7630cbf7f52cd5dd31c42ae2e341d24e66c7e7342cc63d030cbbdc"},"bundle_signature":{"signature_status":"signed_v1","algorithm":"ed25519","key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","signature_b64":"5wRzb7XM5pPFvFwR+yZofV6gnHAGgFFo0MLZn2lvc7fW3t9ZuQLNCF0P2rqtX9Q8MDYStld+axNKSQ6mxjSlCA==","signed_message":"bundle_sha256_bytes","signed_at":"2026-06-09T23:10:45.375586Z","bundle_sha256":"4928e107899352f82f5bb7ca9cd3303dbb451c86f997ddcd8a5f03cec6912eb3"}}