leptokurtic distribution


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Related to leptokurtic distribution: Mesokurtic, skewness, Excess kurtosis

leptokurtic distribution

[¦lep·tə¦kərd·ik ‚di·strə′byü·shən]
(statistics)
A distribution in which the ratio of the fourth moment to the square of the second moment is greater than 3, which is the value for a normal distribution; it appears to be more heavily concentrated about the mean, or more peaked, than a normal distribution.
References in periodicals archive ?
Hence, the underlying leptokurtic distribution of key monetary and financial variables seems to be in line with Minsky's financial fragility hypothesis (Minsky, 1982a, b), and Rindleberger's (1988, 2005) history of 'manias and crashes', and it is consistent with the origin and the course of the United States housing market implosion that initiated the 2007-2009 global financial crisis (Orlowski, 2008b).
Stocks with leptokurtic distributions of returns are conventionally considered to be inherently more risky than stocks with normal pdfs.
54 which reflects a highly leptokurtic distribution.
Notable exceptions to this were the original Z-variance test and Fmax test for leptokurtic distributions.
Leptokurtic distributions severely restrict the appropriateness of using the standard deviation of a distribution as the sole means of identification of risk.
1, respectively) and had unusually leptokurtic distributions (kurtosis = 6.
1996, Turchin 1998); a species following our population heterogeneity model, which is the weighted sum of normal distributions, would have ex ponentially bounded tails and should not exhibit the unbounded invasion speeds that some other leptokurtic distributions can generate (Kot et al.
In fact, it is easy to demonstrate that the sample median is more efficient than the sample mean when the data are drawn from leptokurtic distributions (i.
In many empirical studies, the standard Student-t distribution has been found to be quite successful in modeling highly leptokurtic distributions (e.