The RiskMetrics Group Working Paper Number 99-07 On Default Correlation: A Copula Function Approach David X. Li This draft: April 2000 First draft: September 1999 44 Wall St. New York‚ NY 10005 david.li@riskmetrics.com www.riskmetrics.com On Default Correlation: A Copula Function Approach David X. Li April 2000 Abstract This paper studies the problem of default correlation. We first introduce a random variable called “timeuntil-default” to denote the survival time of each
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WEEK 10: TITLE: BINOMIAL THEOREM‚ COUNTING PRINCIPLE‚ PERMUTATION‚ AND COMBINATION Christina Bryant Define Binomial Coefficient. Give an example. Write the steps of a Graphing Utility to evaluate your Binomial Coefficient and the final answer. Binomial coefficients are a family of positive integers that occurs as coefficients in the binomial theorem. (10¦10) (10¦10)=10!/(10-10)!10! =10!/0!10! =10!/(1)(10!) =10!/10! =1 Final answer is 1. Explain the fundamental counting principle
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Pc / Er (1) Where Pc = energy consumption (kW) Er = heat removed (ton) Coefficient of Performance - COP The Coefficient of Performance - COP - is the basic parameter used to report efficiency of refrigerant based systems. The Coefficient of Performance - COP - is the ratio between useful energy acquired and energy applied and can be expressed as COP = Eu / Ea (2) Where COP = coefficient of performance Eu = useful energy acquired (btu in imperial units) Ea = energy applied
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ERD WORKING PAPER SERIES NO. 8 ECONOMICS AND RESEARCHDEPARTMENT Anil B. Deolalikar April 2002 Asian Development Bank ERD Working Paper No. 8 POVERTY‚ GROWTH‚ AND INEQUALITY IN THAILAND Anil B. Deolalikar April 2002 Anil Deolalikar is Professor of Economics and of International Studies at the University of Washington. This paper stems from RETA 5923: Pro-poor Growth and Institutional Constraints to Poverty Reduction in DMCs. The views expressed in the paper are those of the
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economic gap within a country’s wealthiest and poorest citizens. Over the last ten years‚ economic inequality has been growing‚ particularly in developed countries where‚ historically‚ it had been more contained According to the World Bank‚ the GINI coefficient "measures the extent to which the distribution of income or consumption expenditure among individuals households within an economy deviates from a perfectly equal distribution." Therefore it is used as an indication of income inequality within countries
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invented the binomial coefficients which are now known as Pascal’s Triangle. Pascal’s major input to the philosophy of mathematics came with his “Of the Geometric Spirit””.1 Blaise Pascal was also a major contributor to the founding of Statistics. Blaise Pascal contributed to mathematics in many ways‚ but one of the most important contributions he made was the creation of Binomial Coefficients; now known as Pascal’s Triangle. “Pascal’s triangle determines the coefficients which arise in binomial
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while‚ the further away it is from the straight line‚ the more unequal the distribution of income. In the diagram above‚ the ratio of the area between the diagonal and the Lorenz curve‚ to the total area under the diagonal is known as the Gini Coefficient. However‚ despite its simplicity there are numerous limitations to this curve. Firstly‚ the Lorenz curve is based on the data relating to money income rather than disposable income. It does not take into consideration personal income taxes‚ social
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Property crime reduces investment‚ because individuals resist investment‚ if criminals reap the returns. The time of criminals‚ which could otherwise be spent productively‚ is also a social loss. These significant social costs imply that research on crime is among the most important areas in economics. Furthermore‚ as economics addresses issues beyond its conventional topics‚ work on economics and crime has indeed been among the most productive areas for research. Over the past 30 years since
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Correlation and Causation in the Civil Rights Movement: The Court’s Causal Influence on the Passage of the Civil Rights Act of 1964 The Civil Rights movement was a collaborative effort towards equal rights for African Americans. In 1954‚ the Supreme Court deemed “separate but equal” unconstitutional in the case‚ Brown v. Board of Education. Some scholars of the Supreme Court argue that the Court had direct‚ causal influence on the Civil Rights movement‚ while some argue that the Court had little
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COMMENTARY Corruption in India A Quantitative Analysis Vani K Borooah This article represents one of the first attempts at quantifying the level of corruption in India. This has been made possible by the unique website ipaidabribe.com which invites people who paid a bribe to record their experience. By choosing a specific issue – identity verification by a police officer prior to issuing a passport – it was able to focus on a “harassment” bribe‚ that is a bribe paid for something a person was
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