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Independent work of students of philology in the distance learning forms the readiness for self-education, creates a basis for continuing education and the opportunity constantly improve their skills. At the present stage, the issue of organizing independent work of students is of great importance, because the budget of time allocated for classroom activities is limited, and much of the program material...
The provision of the proper functioning of the field of education is considered one of the priority government tasks consisting in the organization of an efficient educational process of professional (vocational and technical) education with the use of information technology, which is an important structural element of providing high-quality educational services. The development of the government...
The speech signal is like the black box of human beings where much information is hidden. The treatment of this signal provides us with the speaker’s identity. In a way, it is similar to an identity card. Moreover, some neurologic diseases such as Alzheimer, depression, and Parkinson are detected based on the features extraction from the speech signals. In our study, we have recourse to the evolutionary...
Objective
Parkinson disease is characterized by motor and nonmotor symptoms, reduced striatal dopamine signaling, and loss of dopamine neurons in the substantia nigra. It is now known that the pathological process in Parkinson disease may begin decades before the clinical diagnosis and include a variety of neuronal alterations in addition to the dopamine system.
Methods
This study examined...
Dysfunction of the autonomic nervous system afflicts most patients with Parkinson disease and other synucleinopathies such as dementia with Lewy bodies, multiple system atrophy, and pure autonomic failure, reducing quality of life and increasing mortality. For example, gastrointestinal dysfunction can lead to impaired drug pharmacodynamics causing a worsening in motor symptoms, and neurogenic orthostatic...
At present, additively manufactured biomedical materials find extensive applications in a wide range of avenues ranging from orthopaedics to urology. Additive manufacturing (AM) techniques based on the layerwise deposition of materials allow fabrication of complex-shaped biomedical components with a high level of accuracy. In this context, the major challenge is to obtain robust and functional engineering...
This article presents a theory for credit valuation adjustment (CVA). Based on our theory, we propose a novel cash-flow-based practical framework for calculating the bilateral risky value and bilateral CVA at the counterparty portfolio level. This framework can easily incorporate various credit mitigation techniques, such as netting agreements and margin agreements, and can capture wrong/right way...
This article presents a model for valuing a credit default swap (CDS) contract subject to counterparty credit risk. The valuation is affected by three defaultable factors of the buyer, seller and reference entity. We study the sensitivity of the price of a CDS to changes in the joint credit quality of the parties. The results shows that the effect of default dependence on CDS premia from large to...
This paper presents an analytical model for valuing interest rate swap with counterparty risk. Interest rates are modeled by the Libor Market Models, while the default time is modeled by the reduced-form model as the first jump of a time-inhomogeneous Poisson process. All quantities modeled are market-observable. The closed-form solution gives us a better understanding of the impact of the credit...
This article presents a new model for valuing financial contracts subject to credit risk and collateralization. We study credit default swap (CDS) contract subject to counterparty risk. There are three credit risk factors in CDS. They are credit risks from the buyer, seller and reference entity. We show that default dependency has a significant impact on the value of CDS. We also show that a fully...
In this paper, we present a methodology for calculating IRC. First, a Merton-type model is introduced for simulating default and migration. The model is modified to incorporate concentration. The calibration is also elaborated. Second, a simple approach to determine market data, including equity, in response to default and credit migration is presented. Next, a methodology toward constant level of...
This paper presents a new framework for valuing defaultable financial instruments with or without collateral arrangements. The framework characterizes default dependencies exogenously, and models collateral processes directly based on the fundamental principles of collateral agreements. We study the effect of collateralization on valuation, since the majority of OTC derivatives are collateralized...
This paper presents a new framework for pricing collateralized derivatives. We find that the credit valuation adjustment of a collateralized portfolio is always smaller than the one of the same portfolio without collateralization. We also find that credit risk is negatively correlated with collateralization as an increase in collateralization causes a decrease in credit risk. The findings suggest...
This article makes a theoretical and empirical contribution to the study of collateralization by addressing several essential questions concerning the posting of collateral. We find evidence that financial institutions are sprinting to comply with the Dodd-Frank Act. In the new practice, contracts are continuously negotiated over-the-counter as usual, but cleared and settled via clearinghouses, as...
This paper presents a new framework that relies on the probability distribution of a default jump rather than the default jump itself. As such, the model can back out the market prices of convertible bonds. The empirical results show that the model prices fluctuate randomly around the market prices, indicating the model is quite accurate. Our empirical evidence does not support a systematic underpricing...
This article presents a lattice approach for LIBOR Market Model by using several fast drift approximation methods. The fast convergence behavior requires fewer discretization nodes that gives better performance without losing much accuracy. Moreover, the calibration is almost automatic and it is simple and easy to implement.
This paper presents a new model for valuing convertible bonds. Empirically, we do not find evidence supporting the underpricing hypothesis. Our study shows that convertible bonds have relatively large positive gammas, implying that convertible arbitrage can make a profit on a large upside or downside movement in the underlying stock price. Since convertible bonds are issued mainly by start-up or small...
Credit valuation adjustment (CVA) is a fair value correction that take counterparty credit risk into account. This paper presents a new model for calculating CVA. The model allows us to incorporate correlated and potentially simultaneous defaults into valuation. As such, it can naturally capture wrong way risk. Empirically we find that credit spread is determined by both credit risk and collateralization...
We study the problem of removable singular set in the boundary of Neumann problem for elliptic equations with variable exponent. We consider the case when the singular set have a smooth structure, and give sufficient conditions for removability of this singularity for the equation in the variable exponent Sobolev space. https://hal.archives-ouvertes.fr/hal-03599196
Neurodegenerative diseases, the leading cause of morbidity and disability, are gaining increased attention as they impose a considerable socioeconomic impact, due in part to the ageing community. Neuronal damage is a pathological hallmark of Alzheimer's and Parkinson's diseases, amyotrophic lateral sclerosis, Huntington's disease, spinocerebellar ataxia and multiple sclerosis, although such damage...
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