The estimation of large covariance and precision matrices is fundamental in modern multivariate analysis. However, problems arise from the statistical analysis of large panel economic and financial data. The covariance matrix reveals marginal correlations between variables, while the precision matrix encodes conditional correlations between pairs of variables given the remaining variables. In this paper, we provide a selective review of several recent developments on the estimation of large covariance and precision matrices. We focus on two general approaches: a rankbased method and a factormodelbased method. Theories and applications of both approaches are presented. These methods are expected to be widely applicable to the analysis of economic and financial data.

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Let X be an algebraic variety and let S be a tropical variety associated to X. We study the tropicalization map from the moduli space of stable maps into X to the moduli space of tropical curves in S. We prove that it is a continuous map and that its image is compact and polyhedral. Loosely speaking, when we deform algebraic curves in X, the associated tropical curves in S deform continuously; moreover, the locus of realizable tropical curves inside the space of all tropical curves is compact and polyhedral. Our main tools are Berkovich spaces, formal models, balancing conditions, vanishing cycles and quantifier elimination for rigid subanalytic sets.

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Let Mp(2n) be the metaplectic covering of Sp(2n) over a local field of characteristic zero. The core of the theory of endoscopy for Mp(2n) is the geometric transfer of orbital integrals to its elliptic endoscopic groups. The dual of this map, called the spectral transfer, is expected to yield endoscopic character relations which should reveal the internal structure of L-packets. As a first step, we characterize the image of the collective geometric transfer in the non-archimedean case, then reduce the spectral transfer to the case of cuspidal test functions by using a simple stable trace formula. In the archimedean case, we establish the character relations and determine the spectral transfer factors by rephrasing the works by Adams and Renard.