The multi-state life insurance contract is reconsidered in a framework of securitization where insurance claims may be priced by the principle of no arbitrage. This way a generalized version of Thiele’s differential equation (TDE) is obtained for insurance contracts linked to indices, possibly marketed securities. The equation is exemplified by a traditional policy, a simple unit-linked policy ...

This paper studies a new class of boundary value problems of nonlinear differential inclusions with Riemann-Liouville integral boundary conditions arising from real estate asset securitization and HIV models. Some new existence results are obtained by using standard fixed point theorems when the right-hand side of the inclusion has convex as well as non-convex values. Some illustrative examples...

Güvenlikleştirme Kuramı uluslararası yazında olduğu gibi Türkçe da sık kullanılan bir kuramsal yaklaşımdır. Bu araştırmanın ortaya koyduğu üzere, özellikle 2010 yılından itibaren yıllık ortalama üç güvenlikleştirme makalesi yayınlanmakta, her dört ayda konulu yeni makale literatürde yerini almaktadır. kurama yönelik bu rağbetin artışını tartışan makale, Türkiye’de yayınlanmış olan çalışmalarına...

We show that (i) different collateral requirements across countries in securitized markets lead to net international capital flows, and (ii) the ability to tranche asset-backed securities in one country leads to offsetting portfolio flows, creating gross financial flows. We use a general equilibrium model with two countries, collateralized borrowing, and securitized markets. Financial systems d...