Default logic (DL) (Reiter 1980) is one of the most prominent approaches to nonmonotonic reasoning. One of the main problems with its applicability is that it is computationally harder than classical logic (Gottlob 1992). (Cholewinski 1994,1995) introduced and studied stratification of default theories to increase the efficiency of default reasoning. The idea is to to split the knowledge into s...

considering significant influence of financial crisis on the economy as a whole, policymakers spend remarkable resources on supervision and methods to ensure about sustainable financial system . a non-performing loan, or npl, is a loan that is in default or close to being in default. many loans become non-performing after being in default for 90 days, but this can depend on the contract termsan...

The present paper aimed at studying the current models of credit portfolio management. There are currently three types of models which consider the risk of credit portfolio: the structural models (Moody's KMV model, and Credit- Metrics model), the intensity models (the actuarial models) and the econometric models (the Macro-factors model). The development of these three types of models is based...

The Basel II Accord pointed out benefits of credit risk management through internal models to estimate Probability of Default (PD). Banks use default predictions to estimate the loan applicants’ PD. However, in practice, PD is not useful and banks applied credit scorecards for their decision making process. Also the competitive pressures in lending industry forced banks to use profit scorecards...

v:* {behavior:url(#default#vml);} o:* {behavior:url(#default#vml);} w:* {behavior:url(#default#vml);} .shape {behavior:url(#default#vml);} introduction: sleeping is one of the important biological needs of human beings which has an important role in maintaining health and quality of life. driving is one of the occupational groups in which the quality of sleep is of a great importance for job pe...

This paper develops a tractable macroeconomic model with production and limited commitment (limited enforceability of contracts). The paper provides a characterization of recursive equilibria that is independent of the (endogenous) wealth distribution, which implies that recursive equilibria can be computed solving a finite-dimensional fixed-point problem. The paper also shows that a calibrated...