The first financial model to use a Markov chain was from Prasad et al. in 1974. Another was the regime-switching model of James D. Hamilton (1989), in which a Markov chain is used to model switches between periods of high volatility and low volatility of asset returns.
A molecule is a particle containing two or more atoms. If it contains only one type of atom it is called an element.
A molecule containing a very large number of atoms, such as a protein, nucleic acid, or synthetic polymer. Example sentences. 1  During these reactions, they are chemically linked forming macromolecules, or polymers, which have large molecular weights. molecule containing a very large number of atoms, such as a protein, nucleic acid, or synthetic polymer. Example sentences. 1  During these reactions, they are chemically linked forming macromolecules, or polymers, which have large molecular weights.