A model is used to price a derivative whose payoff depends on returns over N periods on a shrinking basket of originally N assets. Each period, the worst return is added to the cumulative sum after being capped and floored, and the corresponding asset removed from the basket (hence a shrinking basket). The cap and floor rates are given for each…[Read more]

Credit value at risk (VaR) is used for measuring and analyzing credit risk of a portfolio. The basic methodology of the Credit VaR employs the credit migration approach spearheaded by RiskMetrics. It assumes that obligor’s credit quality is determined by the obligor’s asset value, which in turn is approximated by its standardized equity return.

This paper presented at the Fourth International Conference and Industrial Exhibitoion on Dairy Science Park IV, Nov 1-5, 2017, Konya, Turkey, has reviewed the philosophy of Mevlana Jalal ud Din Rumi regarding love, tolerance, respect and spiritualism; appreciating each others and knowing the value of each other. Rumi (1230) told Iqbal (1930)…[Read more]

En la era digital actual, donde la cantidad de información generada y almacenada es abrumadora, surge el desafío de preservar y acceder a esta de manera eficiente y duradera. Los identificadores persistentes se presentan como una solución prometedora para abordar este desafío, al proporcionar una forma única y perdurable de identificar y acce…[Read more]

The following is a collection of identified fictional and non–fictional writing by Thomas Richards (1800-1877). Originally from Dolgellau, the young medical practitioner Richards published a considerable number of antiquarian and critical essays, editorials, travel writing, short stories and poetry in literary periodicals in England, Scotland a…[Read more]

In spite of a burgeoning recognition of the Welsh language as part of a wider appreciation of Welsh culture at the beginning of the nineteenth century (see Constantine 2014: 124), Home Tour writing about Wales remained largely Anglocentric (Borm, quoted in Colbert 2012: 85). The journals written by lady’s companions, Eliza and Millicent Bant, in 1…[Read more]

We present a model for pricing a credit derivative product where party A has sold default put protection on a Euro denominated bond. Specifically, upon bond issuer default, party A must pay to party B a notional amount of 10 million USD (excluding accrued interest). In exchange, party B must pay a fixed rate to party A, on a quarterly basis,…[Read more]

This dissertation explores metamodernism in contemporary culture, focusing on its manifestation in literature and its intersections with vaporwave and the music of Radiohead. It considers the novel Taipei by Tao Lin as a representation of metamodern sensibility, analysing its portrayal of a human subjectivity navigating a world shaped by…[Read more]

The purpose of this paper is to submit a project proposal regarding the publication of the Valencian Parliamentary papers in which we want to achieve three main goals: to digitize and transcribe the parliamentary sessions for later publication on the web, which will facilitate access to these texts for both the public and the scientific community;…[Read more]

We present a valuation model for pricing a gold derivatives trade. The trade can be structured to synthesize a typical gold-miner’s hedge, specifically, a swap in which one party receives long-term interest rates and pays a blend of short-term interest rates and short-term gold lease rates.

We present a model for pricing a path-dependent, equity-linked payoff. Here a bounded price return is calculated from an underlying index at certain pre-specified dates. The total return at maturity is given by the sum of the bounded price returns above, but where a specified number of the highest of these returns are set to a cap value.

A model is presented for pricing an American call option on stock. The option tenor is n years, and its strike price is increased every anniversary. It has also the following feature: if the stock price stays in excess of 200% of the current strike price during 10 consecutive trading days. The seller can issue a notice to the buyer that one half…[Read more]

This introduction to the MLO special issue “Minoritised Languages and Travel” provides an overview of the pieces in this collection in context with historical travel accounts in German about nineteenth-century Wales.

The contributions in this collection lay bare frictions between traveller and travelee as well as the inherent instability of soc…[Read more]

1. Motivation: Spiritual beliefs as a Drive or Motivation.
When you talk to “spiritual people” – spiritual beliefs are not just a motivation but a very profound source of inspiration and a powerful drive. In contrast spirituality as a motivation is conspicuously absent from much of academia proper. Beginning in 2017, I did substantial research.…[Read more]

Los procesos de enseñanza e investigación científica requieren fuentes y servicios de información actualizados. La Dirección de Información y Documentación Científico Técnica de la Universidad Central “Marta Abreu” de Las Villas, Cuba; ha identificado como problemática la existencia de escasos servicios de información que satisfagan las necesidade…[Read more]

Logic as a philosophical discipline underwent a radical change from the argumentative perspective of the new rhetoric. This approach, although it had already been approached theoretically and epistemologically, did not take off until the publication of the text Perelman and Lucie Olbrechts-Tyteca. This led to the division of logic into two areas:…[Read more]