A valuation model is presented to calculate price, hedge ratio, and implied volatility for forward starting European calls and puts. The model focuses on the numerical accuracy of the implementation.

The model calculates numbers that characterize the effect of adding an extra instrument to a portfolio of loan commitments. To be useful, these numbers should be additive with respect to the facilities making up the portfolio, so that their total would have the same meaning for the portfolio as each individual number has for the respective…[Read more]

In modern understanding, a crisis can be an event or a period of (or leading to) an unstable or dangerous situation. It can affect an individual, a group or the whole society. However, a crisis is not only a threat, it also implies the need for (and the chance for) change and improvement. Historically, the term was borrowed from Greek…[Read more]

In modern understanding, a crisis can be an event or a period of (or leading to) an unstable or dangerous situation. It can affect an individual, a group or the whole society. However, a crisis is not only a threat, it also implies the need for (and the chance for) change and improvement. Historically, the term was borrowed from Greek…[Read more]

In modern understanding, a crisis can be an event or a period of (or leading to) an unstable or dangerous situation. It can affect an individual, a group or the whole society. However, a crisis is not only a threat, it also implies the need for (and the chance for) change and improvement. Historically, the term was borrowed from Greek…[Read more]

Lesslie Newbigin’s insights into and example of the missional and ecumenical nature of the Church have exerted influence on Christian churches and communities across the ecumenical spectrum. While Newbigin’s ideas about the shaping effect of cultural pluralism on the Church’s mission have become common currency for many Christians in our post-…[Read more]

One of the defining features of the developing field of the Digital Humanities (DH) is its interdisciplinary character. This paper will attempt to indicate how theological insights can contribute at a more theoretical level to DH. Specifically, it will attempt to suggest a way that Marshall McLuhan can contribute positively to defining and…[Read more]

Though Charles Williams was already an established novelist before his friendship with Lewis blossomed, Lewis played a crucial role in helping to secure an honorary degree and teaching opportunities for Williams when he relocated to Oxford during the war. Their mutual appreciation is well attested to, and it is no exaggeration to say that Lewis…[Read more]

En los últimos meses se ha exponenciado el discurso fetichista de la llamada inteligencia artificial. La ausencia de crítica propicia a no ver las condiciones materiales que la propician y el trabajo detrás de ella. Además, los escenarios futuristas, distópicos impiden ver lo que ya se hace con la tecnología. Quienes mueven y fomentan las aplic…[Read more]

La “profecía de Mar” de Jung: el materialismo académico impulsado por el escapismo extremo de los psicólogos materialistas
Pregunta de un periodista a Carl Jung: ¿Cree que, dentro de veinte años, a alguien le importará el espíritu de los símbolos, de lleno en la era de los viajes interplanetarios, con los Sputniks, los Gagarin y los Shephar…[Read more]

Pourquoi un sophisme est-il important ? Bouddha dit que « nous devenons ce que nous pensons ». Hier, je parlais à un diplômé philippin (je séjourne actuellement à Gneral Santos, aux Philippines). J’ai évoqué le principal argument martérialiste tel qu’expliqué par MIller et Thompson dans un article publié sur le site Web du NIH – Pubmed – qui affir…[Read more]

As the prominent social psychologists, Baumeister and Leary, point out, “Groups can share food, provide mates, and help care for offspring (including orphans). Some survival tasks such as hunting large animals or maintaining defensive vigilance against predatory enemies, are best accomplished by group cooperation…. Competition for limited res…[Read more]

The term ‘affective politics’ is sometimes used to dismiss political strategies as being directed merely at affects at the expense of rational analysis (Massumi 2015: 65f). While such uses are meant to criticize certain politics, appeals to the affects – and consequently, forms of propaganda or populism – do not have to be bad at all. The point h…[Read more]

The term ‘affective politics’ is sometimes used to dismiss political strategies as being directed merely at affects at the expense of rational analysis (Massumi 2015: 65f). While such uses are meant to criticize certain politics, appeals to the affects – and consequently, forms of propaganda or populism – do not have to be bad at all. The point h…[Read more]

Equity value at risk (VaR) model requires implied volatilities with respect to various indices and maturities, which range from three months to five years. A model is presented for generating a term-structure of implied equity index volatilities for use in calculating VaR.

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 aims to examine models by which symbolism of light and lamp in
the Mediterranean region was manifested in the early Christian visual culture,
i.e. lamp representations from Central Balkans. Lamps with Early
Christian representations are considered in the context of transculturality
of Late Antiquity, as well as political and…[Read more]

Elements of Christian visual culture appeared in
various media in monumental and applied art during the late
antique period, from painted decoration in the catacombs,
through funerary monuments, to utilitarian objects such as
jewellery and lamps. The paper analyses the symbolic meaning
of fish and maritime motifs in the context of the late…[Read more]

On a number of pilgrimage objects from Late Antiquity, St Thecla, a highly revered saint, also known as Thecla the Protomartyr, is shown accompanied by St Menas, whose tomb in Egypt was the pilgrimage centre associated with healing miracles. The saintly couple appear in ad bestias compositions or in a simplified variant as two saints with a cross.…[Read more]