This book can serve as the text for a one-semester course on Monte Carlo simulation. The intended audience is advanced undergraduate students or students on master's programs who wish to learn the basics of this exciting topic and its applications to finance. The book is largely self-contained....

This paper provides a comprehensive analysis of machine learning methods applied in short-term exchange rate forecast and portfolio evaluation. The models we used include: random forest, gradient boosting decision tree (GBDT) and extreme gradient boosting (XGBoost). We provide evidence that...

Prior research on the demand for life insurance in household portfolio holdings has not made a clear distinction between portfolio shifts resulting from active allocation decisions and those resulting from passive acceptance. Our study examines the relationship between household portfolio...