We propose a fast algorithm for computing the expected tranche loss in the Gaussian factor model with arbitrary accuracy using Her-mite expansions. No assumptions about homogeneity of the portfolio are made. It is intended as an alternative to the much slower Fourier transform based methods [2]. Let us consider a portfolio of N loans. Let the notional of loan i be equal to the fraction f i of t...

Information Structure, the packaging of information to satisfy the immediate communicative needs, exerts a powerful force on all structural levels of language. We show how this concept can be defined, we argue for focus, givenness, topic, frame setting and delimitation as important subconcepts, and we illustrate the wide variety in which these information structural functions are expressed in l...

this article examines the role of security approach in challenging tehran-baku relations by analyzing political and economic factors in their bilateral relations. the article centers on finding an answer to the question that what constitutes the main cause of unfriendly approach in relations between the two states between 1991 and 2009. the main hypothesis of this article is that emphasizing se...

We propose a fast algorithm for computing the expected tranche loss in the Gaussian factor model with arbitrary accuracy using Hermite expansions. No assumptions about homogeneity of the portfolio are made. The algorithm is a generalization of the algorithm proposed in [4]. The advantage of the new algorithm is that it allows us to achieve higher accuracy in almost the same computational time. ...

National security depends on soft power, the ability of a country to generate and use its economic power and to project its national values. It also depends on long-term factors that contribute to economic growth and increase the total resources base available not only for defense but to provide economic security in the form of income and business opportunities for individuals. The economic iss...