The payoff of many credit derivatives depends on the level of credit spreads. In particular, credit derivatives with a leverage component are subject to gap risk, a risk associated with the occurrence of jumps in the underlying credit default swaps. In the framework of first passage time models,...

The payoff of many credit derivatives depends on the level of credit spreads. In particular, the payoff of credit derivatives with a leverage component is sensitive to jumps in the underlying credit spreads. In the framework of first passage time models we extend the model introduced in...

In some circumstances a decision maker, expert, in a group decision making problem cannot express his/her preferences with a unique linguistic fuzzy preference because he/she is dubious into some preferences. In this paper, we present a consensus model for group decision making problems with...

In this paper, we apply SAM linear models to the economy in a Spanish region, Extremadura, from the usual household disaggregation of these matrices. The analysis aims to some issues related to income distribution. To achieve these goals, some relative multipliers are computed and we propose...

We consider a simple dynamic model of environmental taxation that exhibits time inconsistency. There are two categories of firms, Believers, who take the tax announcements made by the Regulator to face value, and Non-Believers, who perfectly anticipate the Regulator's decisions, albeit at a...

The Netherlands have been a pivotal supplier in Western European natural gas markets in the last decades. Recent analyses show that the Netherlands would play an important role in replacing Russian supplies in Germany and France in case of Russian export disruption (Richter & Holz, 2015)....

Die vermehrt auftretenden Erdbeben im Nordosten der Niederlande werden auf die Förderung von Erdgas im Groningen-Feld zurückgeführt. Dadurch entstand erheblicher Widerstand gegen die Erdgasförderung in der niederländischen Bevölkerung, der über die Lokal- und Provinzpolitik hinaus...

The rising number of earthquakes in the northeastern part of the Netherlands has been attributed to the extraction of natural gas from the Groningen field. This has led tostrong opposition to natural gas production from the Dutch population, a matter that is increasingly preoccupying not only...

In der WTO-Agrarhandelsrunde von Doha geht es neben dem Abbau von Exportsubventionen und der Abschaffung von Marktzugangsbeschränkungen auch um die weitere Reduktion von internen Subventionen, die als produktions- und damit handelsverzerrend eingestuft sind. Eine Gruppe von Ländern, darunter...

This paper suggests spatial models as an alternative to the Armington approach to model bilateral trade. While the use of spatial models has been accepted for decades, they are rarely chosen for such analyses. However, problems inherent in the application of the Armington approach can be...