This is a preview. Log in through your library . Abstract By using some quasi-renewal-like equations and functional differential equations, we explicitly compute the Laplace transforms of some random ...

Rating-transition-probability models, under the asymptotic single-risk-factor model framework, are widely used in the industry for stress testing and multi-period scenario loss projection. For a ...

A model for the transition probability matrices (t.p.m.'s) of finite discrete Markov chains is suggested which may help those who wish to use a larger number of states than would seem reasonable with ...

Fortunately, computers and probability modeling software can play a pivotal role in helping business owners better project the outcome of their decisions.

Traders in bonds and credit default swaps are bombarded with information on the default probabilities implied by credit spreads using a simple ratio.

In late December 2019, the severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) emerged in Wuhan, China, with human respiratory problems resulting from the likely transmission of an animal ...