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The paper addresses parametric inequality systems described by polynomial functions in finite dimensions, where state-dependent infinite parameter sets are given by finitely many polynomial inequalities and equalities. Such systems can be viewed, in particular, as solution sets to problems of generalized semi-infinite programming with polynomial data. Exploiting the imposed polynomial structure together with powerful tools of variational analysis and semialgebraic geometry, we establish a far-going extension of the Łojasiewicz gradient inequality to the general nonsmooth class of supremum marginal functions as well as higher-order (Hölder type) local error bounds results with explicitly calculated exponents. The obtained results are applied to higher-order quantitative stability analysis for various classes of optimization problems including generalized semi-infinite programming with polynomial data, optimization of real polynomials under polynomial matrix inequality constraints, and polynomial second-order cone programming. Other applications provide explicit convergence rate estimates for the cyclic projection algorithm to find common points of convex sets described by matrix polynomial inequalities and for the asymptotic convergence of trajectories of subgradient dynamical systems in semialgebraic settings.

The availability of high-frequency intraday data allows us to accurately estimate stock volatility. This paper employs a bivariate diffusion to model the price and volatility of an asset and investigates kernel type estimators of spot volatility based on high-frequency return data. We establish both pointwise and global asymptotic distributions for the estimators.

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We introduce the concept of boundary degeneracy of topologically ordered states on a compact orientable spatial manifold with boundaries, and emphasize that the boundary degeneracy provides richer information than the bulk degeneracy. Beyond the bulk-edge correspondence, we find the ground state degeneracy of the fully gapped edge modes depends on boundary gapping conditions. By associating different types of boundary gapping conditions as different ways of particle or quasiparticle condensations on the boundary, we develop an analytic theory of gapped boundaries. By Chern-Simons theory, this allows us to derive the ground state degeneracy formula in terms of boundary gapping conditions, which encodes more than the fusion algebra of fractionalized quasiparticles. We apply our theory to Kitaev's toric code and Levin-Wen string-net models. We predict that the Z2 toric code and Z2 double-semion model (more generally, the Zk gauge theory and the U(1)k×U(1)−k non-chiral fractional quantum Hall state at even integer k) can be numerically and experimentally distinguished, by measuring their boundary degeneracy on an annulus or a cylinder.