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Malliavin Calculus in Finance: Theory and Practice aims to
introduce the study of stochastic volatility (SV) models via
Malliavin Calculus. Malliavin calculus has had a profound impact on
stochastic analysis. Originally motivated by the study of the
existence of smooth densities of certain random variables, it has
proved to be a useful tool in many other problems. In particular,
it has found applications in quantitative finance, as in the
computation of hedging strategies or the efficient estimation of
the Greeks. The objective of this book is to offer a bridge between
theory and practice. It shows that Malliavin calculus is an
easy-to-apply tool that allows us to recover, unify, and generalize
several previous results in the literature on stochastic volatility
modeling related to the vanilla, the forward, and the VIX implied
volatility surfaces. It can be applied to local, stochastic, and
also to rough volatilities (driven by a fractional Brownian motion)
leading to simple and explicit results. Features
Intermediate-advanced level text on quantitative finance, oriented
to practitioners with a basic background in stochastic analysis,
which could also be useful for researchers and students in
quantitative finance Includes examples on concrete models such as
the Heston, the SABR and rough volatilities, as well as several
numerical experiments and the corresponding Python scripts Covers
applications on vanillas, forward start options, and options on the
VIX. The book also has a Github repository with the Python library
corresponding to the numerical examples in the text. The library
has been implemented so that the users can re-use the numerical
code for building their examples. The repository can be accessed
here: https://bit.ly/2KNex2Y.
NATO and the Greater Maghreb offers a distinctive focus and study
of NATO's future policy in North Africa and the Sahel after the new
2022 Strategic Concept, expected to be published during the next
NATO Summit in Madrid. The book will use three main axes to frame
the contributors' analysis, which are not usually used together for
analyzing NATO policy: Geopolitics, Great Power Competition, and
Threats. These lenses create a distinctive approach to reviewing a
Greater Mahgreb Regional Security Complex confronted with the
necessities of a distinctive approach by NATO. The idea of MENA
(Middle East and North Africa), still used by the EU and NATO is
already obsolete for several reasons: first, it is no more possible
to split West Africa geopolitically from North Africa and Sahel.
Second, the action of terrorist groups such as Al Qaida in the
Islamic Maghreb, ISIS, and Boko Haram are not related to Middle
East problems, nor strategies and policies necessaries to tackle
them. Second, the difficulties in cooperation between these
countries, the corruption fed by organized crime (above all cocaine
trafficking) and the impact of desertization, makes it very
difficult to establish sound strategies and policies for the area.
Third, there is an increasing presence of Great Powers in the area,
including Russia and China, Turkey, and some Gulf states with
different goals and policies.
Malliavin Calculus in Finance: Theory and Practice aims to
introduce the study of stochastic volatility (SV) models via
Malliavin Calculus. Malliavin calculus has had a profound impact on
stochastic analysis. Originally motivated by the study of the
existence of smooth densities of certain random variables, it has
proved to be a useful tool in many other problems. In particular,
it has found applications in quantitative finance, as in the
computation of hedging strategies or the efficient estimation of
the Greeks. The objective of this book is to offer a bridge between
theory and practice. It shows that Malliavin calculus is an
easy-to-apply tool that allows us to recover, unify, and generalize
several previous results in the literature on stochastic volatility
modeling related to the vanilla, the forward, and the VIX implied
volatility surfaces. It can be applied to local, stochastic, and
also to rough volatilities (driven by a fractional Brownian motion)
leading to simple and explicit results. Features
Intermediate-advanced level text on quantitative finance, oriented
to practitioners with a basic background in stochastic analysis,
which could also be useful for researchers and students in
quantitative finance Includes examples on concrete models such as
the Heston, the SABR and rough volatilities, as well as several
numerical experiments and the corresponding Python scripts Covers
applications on vanillas, forward start options, and options on the
VIX. The book also has a Github repository with the Python library
corresponding to the numerical examples in the text. The library
has been implemented so that the users can re-use the numerical
code for building their examples. The repository can be accessed
here: https://bit.ly/2KNex2Y.
This book examines the evolution of Spanish foreign policy since
1975, through five different presidencies, spanning its
transformation from a dictatorial political system and backward
economy to a modern European state, fully democratic and with a
well-functioning market economy, under strain from the Eurozone
Sovereign Debt crisis. It explains how domestic developments and
external factors have combined to shape Spain's international
relations, assessing the impact of EU membership and providing an
example of how middle powers can pursue their foreign policy
objectives in the international system. The authors explore a range
of topics including: Defence and security Economy and development
Soft power Spanish policy towards the EU, the United States, Latin
America, the Mediterranean, Sub-Saharan Africa and Asia. This book
will be of interest to students and scholars of Spanish politics
and history, European Union studies, foreign policy, international
relations and security studies.
This book examines the evolution of Spanish foreign policy since
1975, through five different presidencies, spanning its
transformation from a dictatorial political system and backward
economy to a modern European state, fully democratic and with a
well-functioning market economy, under strain from the Eurozone
Sovereign Debt crisis. It explains how domestic developments and
external factors have combined to shape Spain's international
relations, assessing the impact of EU membership and providing an
example of how middle powers can pursue their foreign policy
objectives in the international system. The authors explore a range
of topics including: Defence and security Economy and development
Soft power Spanish policy towards the EU, the United States, Latin
America, the Mediterranean, Sub-Saharan Africa and Asia. This book
will be of interest to students and scholars of Spanish politics
and history, European Union studies, foreign policy, international
relations and security studies.
This book represents a different approach in the study of the Sahel
region in North Africa. Due to the hybrid security threats sweeping
across the area, the whole region becomes a new security complex
different from Middle East and more related to Western and Central
Africa developments, including the impact of drug-trafficking
coming from Latin America. This book discusses how the
Transnational Organized Crime-Terrorism Nexus has created a very
different dynamics from Middle East’s, hitting hard to people,
societies and states there. The contributors argue that the
countries in the area and the European Union should recognize this
new complex and respond properly and differently to this situation.
This open access book represents a comprehensive review of
available land-use cover data and techniques to validate and
analyze this type of spatial information. The book provides the
basic theory needed to understand the progress of LUCC
mapping/modeling validation practice. It makes accessible to any
interested user most of the research community's methods and
techniques to validate LUC maps and models. Besides, this book is
enriched with practical exercises to be applied with QGIS. The book
includes a description of relevant global and supra-national LUC
datasets currently available. Finally, the book provides the user
with all the information required to manage and download these
datasets.
Arsenio Rodr\u00edguez was one of the most important Cuban
musicians of the twentieth century. In this first scholarly study,
ethnomusicologist David F. Garc\u00eda examines Rodr\u00edguez's
life, including the conjunto musical combo he led and the highly
influential son montuno style of music he created in the 1940s.
Garc\u00eda recounts Rodr\u00edguez's battle for recognition at the
height of \u0022mambo mania\u0022 in New York City and the
significance of his music in the development of salsa. With
firsthand accounts from relatives and fellow musicians, Arsenio
Rodr\u00edguez and the Transnational Flows of Latin Popular Music
follows Rodr\u00edguez's fortunes on several continents,
speculating on why he never enjoyed wide commercial success despite
the importance of his music. Garc\u00eda focuses on the roles that
race, identity, and politics played in shaping Rodr\u00edguez's
music and the trajectory of his musical career. His transnational
perspective has important implications for Latin American and
popular music studies.
Cipriano Frederico Vigil is the most important performer of
traditional Nuevomexicano folk music in the late twentieth and
early twenty-first centuries. This bilingual panoramic book
presents the songs that are his life's work, spanning half a
century of listening, playing, composing, and singing ritual,
social, and dance music.
New Mexican Folk Music includes much traditional material that
has never been seen before or studied by scholars or students.
Renowned as a composer, Vigil works in traditional genres such as
the romance, the decima, the cuando, and corrido. Like the Mexican
group Los Folkloristas with which he apprenticed in the late 1970s,
his goal has been to research and master local styles, to introduce
new listeners to traditional music, and to build on tradition by
creating new compositions that address contemporary social
themes.
An audio CD accompanies this comprehensive study on the work and
music of Cipriano Frederico Vigil."
Bubbly Doo pals, Max and Petey, bob merrily inside the safety of
their pop bottles, missing the adventures of the bold beautiful
world outside, until one serendipiddy-doo moment ...
Who Killed The Rowboat Man? Leisure times on the famous California
Delta come to sudden halt for two young lovers at the sight of a
dead body in a small cove alongside the San Joaquin. With some of
their boating friends, they set out to ascertain whether it was an
accident or murder that did the poor fellow in. During their search
for answers they accidentally stumble onto a multitude of criminal
activities running roughshod throughout the area. In what started
out as an intriguing adventure, they quickly become targets of
cutthroats and hit men as the vicious crime boss responsible for
all this illegality learns of their interference and sends his
henchmen out to quiet their ways. Armed with nothing but small
boats and flare guns, the young, amateur detectives have no
alternative but to outrun, outwit and out maneuver the killers in
big boats with big guns as they fight for their very lives.
Overcome with rage, the antagonists ram, sink and destroy each
other and their boats during a never ending series of death-dealing
confrontations that roar throughout the winding waterways of the
startled river. To maintain the secrecy of their homicidal reign of
kidnapping, torture, rape and murder, the criminals pursue their
prey all the way across this otherwise pristine paradise right into
the waiting arms of an action-packed finale. But now, let us go
back and see how all this got started in the first place...
Complete collection of The Eclectic magazine.
The Dodd-Frank Wall Street Reform and Consumer Protection Act
requires the Financial Stability Oversight Council to submit a
report to Congress regarding the implementation of prompt
corrective action (PCA) by the Federal banking agencies. This book
discusses the existing PCA framework and the findings and
recommendations of the Government Accountability Office study. It
also highlights lessons learned from the financial crisis and
outlines actions taken that could affect PCA, as well as additional
steps to modify the PCA framework that could be considered.
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