docs: Update news.md to include changes up to 28.07.2024

Updated the news.md file to document all recent changes made to the package up to 28.07.2024.

Ensured that the news.md file accurately describes the latest modifications for user reference.

NEWS.md

@@ -1,46 +1,81 @@
-# NEWS - PINstimation Package
+# PINstimation 0.1.3.9000 (28.07.2024)
 
-## Version 0.1.2 [20.03.2023]
-----
+## New Features
+- **`adjpin()`**: The function now includes the time spent on generating initial
+ parameter sets in the total time displayed in the output. This enhancement
+ provides a more comprehensive view of the time taken for the entire process.
 
+## Updates
+- **`initials_adjpin_rnd()`**: Updated the implementation for generating random
+ initial parameter sets to align with the algorithm described in Ersan and
+ Ghachem (2024).
+- **`initials_adjpin()`**: Aligned the function, which generates initial parameter
+ sets for the adjusted PIN model, with the algorithm outlined in Ersan and
+ Ghachem (2024).
+- **`solve_eqx`**: Enhanced the format and performance of polynomial root
+ calculations within the conditional-maximization steps of the ECM algorithm.
+
+## Bugfixes
+- **`initials_adjpin_cl()`**: Fixed an issue with the calculation of the
+ likelihood value according to the algorithm of Cheng and Lai (2021).
+- **`detectlayers_eg()`**: Corrected the return value to a single number when
+ the number of information days is equal to 1. Previously, it incorrectly
+ returned a vector.
+- **`mpin_ecm()`**: Rectified an issue where observations with zero probability
+ in the E-step of the ECM algorithm were assigned a fixed number of clusters
+ (`6`). Now, the function assigns a uniform probability of `1/cls`, where `cls`
+ is the total number of clusters, to each cluster.
+
+## Dependency Management
+- **Future Package**: Addressed two concerns related to the `future` package.
+ The updated code now uses lexical scoping with the `local()` function to manage
+ the variable `.lwbound` between parallel function calls, preventing unexpected
+ results. Additionally, the maximum size of futures is no longer set to `+Inf`
+ upon package loading, leaving this option adjustable by the user.
+
+## Documentation
+- Replaced the deprecated '@doctype package' tag with '_Package' to ensure
+ proper generation of package documentation.
+
+# PINstimation 0.1.2
+
+## New Features
 
-### New Features
-----
 * We introduce a new function called `classify_trades()` that enables users to
 classify high-frequency (HF) trades individually, without aggregating them. 
 For each HF trade, the function assigns a variable that is set to `TRUE` if the
 trade is buyer-initiated, or `FALSE` if it is seller-initiated.
 
 * The `aggregate_trades()` function enables users to aggregate high-frequency
-(HF) trades at different frequencies. In the previous version, HF trades were 
-automatically aggregated into daily trade data. However, with the updated 
+(HF) trades at different frequencies. In the previous version, HF trades were
+automatically aggregated into daily trade data. However, with the updated
 version, users can now specify the desired frequency, such as every 15 minutes.
 
-### New Bugfixes
-----
+## Bugfixes
+
 * We identified and corrected an error in the `mpin_ecm()` function. Previously,
-the function would sometimes produce inconsistent results as the posterior 
+the function would sometimes produce inconsistent results as the posterior
 distribution allowed for the existence of information layers with a probability
 of zero. We have now fixed this issue and the function produces correct results.
 
-* We have made some updates to the `mpin_ml()` function to better handle cases 
-where the MPIN estimation fails for all initial parameter sets. Specifically, 
+* We have made some updates to the `mpin_ml()` function to better handle cases
+where the MPIN estimation fails for all initial parameter sets. Specifically,
 we have fixed an error in the display of the estimation results when such failure
-occurs. With these updates, the function should now be able to handle such 
+occurs. With these updates, the function should now be able to handle such
 failures more robustly and provide appropriate feedback.
 
 * We have simplified the ECM estimation functions, with a particular focus on
-the adjpin() function. We have improved the convergence condition of the 
+the adjpin() function. We have improved the convergence condition of the
 iterative process used in the ECM estimation. Moreover, we rounded the values
 of the parameters at each iteration to a relevant number of decimals. This
-shall result in a faster convergence and prevent issues with decreasing 
+shall result in a faster convergence and prevent issues with decreasing
 likelihood values.
 
 
-## Version 0.1.1 [18.10.2022]
-----
-### New Features
-----
+# PINstimation 0.1.1
+
+## New Features
+
 * The functions `pin()`, `pin_*()`, `mpin_ml()`, `mpin_ecm()`, `adjpin()`,
 `vpin()`, and `aggregate_trades()` accept now, for their arguments `data`,
 datasets of type `matrix`. In the previous version, it only accepted
@@ -50,8 +85,8 @@ the package `zoo`.
 * Introduction of the function `pin_bayes()` that estimates the original pin
 model using a bayesian approach as described in Griffin et al.(2021).
 
-### Bugfixes
-----
+## Bugfixes
+
 * Fixed an error in the function `initials_pin_ea()` as it used to produce
 some parameter sets with negative values for trade intensity rates. The negative
 trade intensity rates are set to zero.
@@ -62,6 +97,6 @@ of vpin (2) The argument `verbose` does not work properly.
 * Fixed an issue with resetting the plan for the future (`future::plan`)
 used for parallel processing.
 
-## Version 0.1.0 [26.05.2022]
-----
+# PINstimation 0.1.0
+
 * Added a `NEWS.md` file to track changes to the package.