By Van-Nam Huynh, Vladik Kreinovich, Songsak Sriboonchitta (eds.)
In economics, many amounts are with regards to one another. Such financial relatives are usually even more advanced than kin in technology and engineering, the place a few amounts are independence and the relation among others will be good approximated by means of linear
functions. because of this complexity, after we practice conventional statistical strategies - built for technology and engineering - to strategy financial info, the insufficient remedy of dependence ends up in deceptive versions and faulty predictions. a few economists even blamed such insufficient remedy of dependence for the 2008 monetary crisis.
To make financial versions extra enough, we want extra exact ideas for describing dependence. Such options are at present being built. This publication includes description of cutting-edge strategies for modeling dependence and fiscal functions of
these recommendations. almost all these study advancements are situated round the suggestion of a copula - a common means of describing dependence in chance thought and statistics. To be much more enough, many papers transcend conventional copula recommendations and
take into consideration, e.g., the dynamical (changing) personality of the dependence in economics.
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Modeling Dependence in Econometrics: Selected Papers of the Seventh International Conference of the Thailand Econometric Society, Faculty of Economics, Chiang Mai University, Thailand, January 8-10, 2014
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Additional resources for Modeling Dependence in Econometrics: Selected Papers of the Seventh International Conference of the Thailand Econometric Society, Faculty of Economics, Chiang Mai University, Thailand, January 8-10, 2014
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Let us finally remark that the value of account A can decrease and even become smaller than the initial value A0 , or negative. Therefore, the 15 HF can fail before the contractual reset time T . We will consider in the theoretical analysis that the fund fails if At becomes negative before reset time. 6), we see that the portfolio return is necessarily larger than −1 before the potential failure time, and account B is positive. From this theoretical point of view, fund failure arises as the consequence of an abnormal negative return.