This paper reviews the roles of gamma type kernels in the theory and modelling for Brownian and Lévy semistationary processes. Applications to financial econometrics and the physics of turbulence are pointed out.

In the third article, I examine the effects of credit rationing on corporate cash holdings by modeling the precautionary demand for cash. In the model firms can pledge part of the future cash-flows to creditors when current cashflows are insufficient to finance investment. The discrete time...