Introduction Residential mortgage loans are the major instrument of housing finance. A mortgage arrangement is equivalent to an exchange of a loan today for a stream of future payments. In general, a household or investor will borrow whenever the marginal cost of borrowing is less than the marginal utility or benefit derived from the asset. Mortgage loans are secured by the real property, and p...

Multi-agent systems (MAS) open new modelling and analysis perspectives in ecological and social sciences. An original characteristic of the Companion Modelling (ComMod) approach adopted in this case study is the co-construction and use of a MAS model with and for local stakeholders such as farmers and local administrators. Alternating iteratively field and modelling activities, this approach fa...

Knowing which sector credit facilities can contribute to increasing economic growth in the long term Indonesia, is main objective of research. This research uses secondary data as quarterly from 2010Q1 2019Q4. Using VECM approach identify long-term effects, equipped with structural analysis determine response shocks well resulting contribution. Overall sectoral bank have a significant impact on...

Throughout the 1950s the British government practised demand management through the banking system by issuing a series of requests that they should control the levels of credit in the economy. Such an approach to economic management can be justified on two grounds [17, pp. 157-60]. From a macroeconomic point of view, the restraints on lending can be seen as a way of controlling monetary expansi...

In a general equilibrium model we examine the optimal allocation of equity and debt across banks and industrial rms when both are plagued by incentive problems and rms can borrow from banks. Increasing bank equity mitigates bank-level moral hazard but may exacerbate rm-level moral hazard due to dilution of rm equity. Competition of banks will not result in a socially e cient level of equity. Im...

We construct a dynamic heterogeneous-agent model with random uninsurable endowments. Two allocation mechanisms are considered, one with longterm complete credit arrangements under private information, and one with incomplete competitive markets. A role for money arises due to random limited participation. A Friedman rule is optimal in the ...rst economy, and replicates a pure credit arrangement...

A significant portion of the world’s text is tagged by readers on social bookmarking websites. Credit attribution is an inherent problem in these corpora because most pages have multiple tags, but the tags do not always apply with equal specificity across the whole document. Solving the credit attribution problem requires associating each word in a document with the most appropriate tags and vi...

a r t i c l e i n f o Keywords: Supplier–retailer inventory system Trade credit Defective items Variable production This paper investigates an integrated inventory model with variable production rate and price-sensitive demand rate under two-level trade credit. The model considers two-level trade credit policy in which the retailer receives a full trade credit from its supplier, and offers part...

Many factors innuence the performance of a learned classiier. In this paper we study diier-ent methods of measuring performance based on a uniied set of cost models and the eeects of training class distribution with respect to these models. Observations from these eeects help us devise a distributed multi-classiier meta-learning approach to learn in domains with skewed class distributions, non-...

approved: Bechir Hamdaoui In this paper, we propose a credit-based resource allocation technique for dynamic spectrum access (DSA) systems that is robust against malicious and sel sh behaviors and ensures good overall system fairness performance while also allowing spectrum users to achieve high amounts of service. We also propose a new objective function that, when combined with the proposed c...