We study a dynamic economy where credit is limited by insu¢ cient collateral and, as a result, investment and output are too low. In this environment, changes in investor sentiment or market expectations can give rise to credit bubbles, that is, expansions in credit that are backed not by expectations of future pro…ts (i.e. fundamental collateral), but instead by expectations of future credit (...

the present paper aimed at studying the current models of credit portfolio management. there are currently three types of models which consider the risk of credit portfolio: the structural models (moody's kmv model, and credit- metrics model), the intensity models (the actuarial models) and the econometric models (the macro-factors model). the development of these three types of models is based...

credit allocation through the usage of portfolio optimization mainly seeks tomaximize return and minimize the risk of the portfolio; but there are other importantissues including sustainable development which is important for government/publicsectors. this paper presents a novel credit allocation approach based on portfoliooptimization and investigates the effects of selected indicators of sust...

The supply and demand of credit are not always well aligned and matched, as is reflected in the countercyclical excess reserve-to-deposit ratio and interest spread between the lending rate and the deposit rate. We develop a search-based theory of credit allocation to explain the cyclical fluctuations in bank reserves, the interest spread, as well as credit rationing. We show that search frictio...

ion The hiding operator P n A makes the events in the set A internal to the process, thus removing them from the control of the environment. The only participants will then be the components of P. From the maximal progress assumption, the internal events will occur as soon as P is ready to perform them. In general, internal events occur as soon as they are ready, unless they are pre-empted beca...

Even when needed, having a security camera system may sometimes be impossible due to the extensive costs for installation. The Raspberry Pi is a credit card sized computer that has the capability to become a camera security system when its own camera board is used. It contains the software motion which enables the Pi’s camera to detect motion and save the image as well as view live streaming fr...

enders in the United States have voluntarily shared information about their customers — through credit bureaus — for nearly a century. In this article, Bob Hunt explains how sharing information about consumers’ indebtedness and payment histories can benefit both consumers and lenders. These benefits depend, however, on the accuracy of the information reported and the care taken to ensure that i...