Abstract. The evaluation of structured credit products like baskets and collateralized debt obligations (CDOs) most often relies on the simulation of correlated default times for the underlying pool of credit instruments. Given the distribution of a default time vector one can find the distribution of the corresponding (cumulative) default quote path for a portfolio. In this note we show that t...

The increased need for social services and infrastructure by the citizenry has put a lot of pressure in Governments to raise additional taxes finance public expenditure. This expenditure is best financed through tax rather than debt. As at 30 th September 2017, Kenya’s gross debt level stood Ksh 4,486.8 billion. 51% estimated domestic product Ksh. 8,805 billion 2017. already above World Bank In...

Agents need to be able to adapt to changes in their environment. One way to achieve this, is to service agents when needed. A separate servicing facility, an agent factory, is capable of automatically modifying agents. This paper discusses the feasibility of automated servicing.

The war waged by the Russian Federation against Ukraine led to a sharp rise in risks of revenue mobilization and increase expenditures. need attract significant amounts additional resources, particular, expanding borrowing has arisen. A debt financing was not foreseen medium-term plans, which complicates management decision making during war. At same time, from internal sources is carried out w...

A large number of products are now being sold with long-term warranty policies. This is mainly due to fierce competition in the market and customer demand. Offering long term warranty results in additional complexities in estimating costs associated with warranty servicing due to the uncertainties associated with usage, preventive maintenance and warranty servicing strategies. This paper review...

abstract the global economy faces crisis every so often. in recent years, the financial crisis has affected the global economy; all countries, directly or indirectly, are involved. the purpose of this research is to study the impact of the global economic crisis on the capital structure of listed companies in tehran stock exchange. to test this effect, 87 companies listed in tehran stock exchan...

one of the economic problems in the developing countries is the debt problem. external debt occurs in the developing countries due to the elimination of the restrictions on the savings gap, the foreign exchange gap, and the fiscal gap in order to form the capital to accelerate the economic growth (karakoy et al., 2012, p. 491). in contrast, borrowing and rising the external debt could be little...