In credit risk modelling, jump processes are widely used to describe both default and rating migration events. This work is mainly a review of some basic definitions and properties of the jump processes intended for a preliminary step before more ad vanced lectures on credit risk modelling. We...

We use a unique dataset of bond downgrades from a niche rating company that has been found to be reacting faster to publicly available information than its competitors. Using regime-switching models we propose risk measures to quantify stock return disturbances (distress costs) associated with...

The first three factors resulting from a principal components analysis of term structure data are in the literature typically interpreted as driving the level, slope and curvature of the term structure. Using slight generalisations of theorems from total positivity, we present sufficient...

Structure of the economy refers to the shares of the broad sectors agriculture, industry, and services in gross domestic income (GDP) and employment. On the other hand, structural transformation refers the change in these shares over time. The purpose of this study is to enhance our...

In order to understand the sources of profits or monetary profits of capitalists and firms, the author examines the phrase of Marx: 'Die Gesamtklasse der Kapitalisten kann nichts aus der Zirkulation herausziehen, was nicht vorher hineingeworfen war.' (The class of capitalists cannot extract from...

In order to understand from where the profits or monetary profits of capitalists and firms emerge the author examined the phrase of Marx, 'Die Gesamtklasse der Kapitalisten kann nichts aus der Zirkulation herausziehen, was nicht vorher hineingeworfen war.' (The class of capitalists cannot...

This paper aims to examine two products used in kitchen, a centrifugal juicer for fruits and vegetables and another masticating juicer. In order to choose the optimal variant of juicer (fruit and vegetable), it will analyze the characteristics of each juicer, so finally using the STEM method to...

The formation of the European Union (EU) is the one of the biggest political – economic events of the last 50 years. The aim of this study is to develop EU economy functioning system dynamic model. Main research method is system dynamics. General scheme of EU economy system dynamic model is...

The paper discusses implementation of a research that is aimed at development of a simulation model which would allow analyzing different development strategies of the third generation university. Small countries’ universities have limits of growth. The problem can be solved with a new...

The first three factors resulting from a principal components analysis of term structure data are in the literature typically interpreted as driving the level, slope and curvature of the term structure. Using slight generalisations of theorems from total positivity, we present sufficient...