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Over the past few years, the Value at Risk indicator (VaR) has evolved, without doubt, into the most frequently used … the total risk. This paper focuses on the importance of market liquidity and describes ways to integrate it into the VaR …
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The paper points to some new aspects in the evolution of the world's economy, where mainly the use of so far unknown or disregarded financial tools leads to brand new situations on various markets and to qualities generally called deformation of the markets. The paper also defines new,...
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