In 1992 the Federal Reserve Bank of Boston conducted an analysis that examined the effects of race on mortgage lending in the Boston Metropolitan Statistical Area. Collecting data on all the possibly relevant information used in the lending process, they find when controlling for a subset of...

Empirical findings and theoretical studies suggest that firms adjust toward time-varying target leverage ratios. This paper studies the performances of the default probabilities generated from two structural credit risk models (one with time-dependent leverage ratios and one with constant target...

In this paper we calibrate the Vasicek interest rate model under the risk neutral measure by learning the model parameters using Gaussian processes for machine learning regression. The calibration is done by maximizing the likelihood of zero coupon bond log prices, using mean and covariance...