{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,6,3]],"date-time":"2026-06-03T14:34:50Z","timestamp":1780497290794,"version":"3.54.1"},"reference-count":42,"publisher":"MDPI AG","issue":"7","license":[{"start":{"date-parts":[[2023,6,21]],"date-time":"2023-06-21T00:00:00Z","timestamp":1687305600000},"content-version":"vor","delay-in-days":0,"URL":"https:\/\/creativecommons.org\/licenses\/by\/4.0\/"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["Axioms"],"abstract":"<jats:p>This manuscript deals with a novel, nonlinear, and non-stationary stochastic model with symmetric, Laplacian distributed innovations. The obtained model, named Laplacian Split-BREAK (LSB) process, is intended for dynamic analysis of time series with pronounced and permanent fluctuations. By using the method of characteristic functions (CFs), the basic stochastic properties of the LSB process are proven, with a special emphasis on its asymptotic behaviour. The different procedures for estimating its parameters are also given, along with numerical simulations of the obtained estimators. Finally, it has been shown that the LSB process, as an adequate stochastic model, can be applied in the analysis of dynamics in the world market of crude oil and natural gas.<\/jats:p>","DOI":"10.3390\/axioms12070622","type":"journal-article","created":{"date-parts":[[2023,6,22]],"date-time":"2023-06-22T02:29:18Z","timestamp":1687400958000},"page":"622","update-policy":"https:\/\/doi.org\/10.3390\/mdpi_crossmark_policy","source":"Crossref","is-referenced-by-count":5,"title":["Laplacian Split-BREAK Process with Application in Dynamic Analysis of the World Oil and Gas Market"],"prefix":"10.3390","volume":"12","author":[{"ORCID":"https:\/\/orcid.org\/0000-0002-3819-4387","authenticated-orcid":false,"given":"Vladica S.","family":"Stojanovi\u0107","sequence":"first","affiliation":[{"name":"Department of Informatics & Computer Sciences, University of Criminal Investigation and Police Studies, 11060 Belgrade, Serbia"}],"role":[{"vocabulary":"crossref","role":"author"}]},{"ORCID":"https:\/\/orcid.org\/0000-0002-3189-0670","authenticated-orcid":false,"given":"Hassan S.","family":"Bakouch","sequence":"additional","affiliation":[{"name":"Department of Mathematics, College of Science, Qassim University, Buraydah 51452, Saudi Arabia"},{"name":"Department of Mathematics, Faculty of Science, Tanta University, Tanta 31111, Egypt"}],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Eugen","family":"Ljajko","sequence":"additional","affiliation":[{"name":"Department of Mathematics, Faculty of Sciences & Mathematics, University of Kosovska Mitrovica, 38220 Kosovska Mitrovica, Serbia"}],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Ivan","family":"Bo\u017eovi\u0107","sequence":"additional","affiliation":[{"name":"Department of Macroeconomics, Faculty of Economics, University of Kosovska Mitrovica, 38220 Kosovska Mitrovica, Serbia"}],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"1968","published-online":{"date-parts":[[2023,6,21]]},"reference":[{"key":"ref_1","doi-asserted-by":"crossref","first-page":"659","DOI":"10.2307\/2077741","article-title":"Margin Requirements, Price Fluctuations, and Market Participation in Metal Futures","volume":"27","author":"Hardouvelis","year":"1995","journal-title":"J. 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