Academic literature on the topic 'Spread Risk Adjusted'
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Journal articles on the topic "Spread Risk Adjusted"
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Boliari, Natalia, and Kudret Topyan. "Credit Risk in G20 Nations: A Comparative Analysis in International Finance Using Option-Adjusted-Spreads." Journal of Risk and Financial Management 15, no. 1 (January 10, 2022): 25. http://dx.doi.org/10.3390/jrfm15010025.
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Corporate bond yields are the manifestation of the cost of financing for private firms, and if properly evaluated, they provide researchers with valuable risk information. Within this context, this work is the first study producing corporate yield spreads for all S&P-rated bonds of G20 nations to explain their comparative riskiness. The option-adjusted spread analysis is an advanced method that enables us to compare the bonds with embedded options and different cash flow characteristics. For securities with embedded options, the volatility in the interest rates plays a role in ascertaining whether the option is going to be invoked or not. Therefore, researchers need a spread that, when added to all the forward rates on the tree, will make the theoretical value equal to the market price. The spread that satisfies this condition is called the option-adjusted spread, since it considers the option embedded into the issue. Ultimately, this work investigates the credit risk differentials of S&P rated outstanding bonds issued by the G20 nations to provide international finance professionals with option-adjusted corporate yield spreads showing the credit risk attributable to debt instruments. Detailed results computed using OAS methodology are presented in tables and used to answer the six vital credit-risk-related questions introduced in the introduction.
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Niblock, Scott James. "Flight of the Condors: Evidence on the Performance of Condor Option Spreads in Australia." Applied Finance Letters 6, no. 01 (December 6, 2017): 38–53. http://dx.doi.org/10.24135/afl.v6i01.69.
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This paper examines whether superior nominal and risk-adjusted returns can be generated using condor option spread strategies on a large capitalized Australian stock. Monthly Commonwealth Bank of Australia Ltd (CBA) condor option spreads are constructed from 2012 to 2015 and their returns established. Standard and alternative measures are used to determine the nominal and risk-adjusted performance of the spreads. The results show that the short put condor spread produces superior nominal and risk-adjusted returns, but seemingly underperformed when the upside potential ratio was taken into consideration. The long iron condor spread also offers reasonable returns across both performance metrics. On the other hand, the short call condor, long call condor, short iron condor and long put condor spreads did not perform as well on a nominal and risk-adjusted return basis. The results suggest that constructing spreads on the foundation of volatility preferences could be a driver of performance for condor option spreads strategies. For instance, short volatility condor spreads with negatively skewed return distribution shapes appear to add value, while long volatility condor spreads with positively skewed return distribution shapes seem to be less attractive over the sample period. Overall, condor option spreads demonstrate high risk-return profiles, offer versatility in their construction and intended pay-off outcomes, create value in some instances and can be executed across varying market conditions. It is suggested that risk averse investors best avoid condor option spreads, while those with above average risk tolerances may be well suited to the strategies, particularly short volatility-driven condor spreads.
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Shine, Daniel. "Risk-Adjusted Mortality: Problems and Possibilities." Computational and Mathematical Methods in Medicine 2012 (2012): 1–5. http://dx.doi.org/10.1155/2012/829465.
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The ratio of observed-to-expected deaths is considered a measure of hospital quality and for this reason will soon become a basis for payment. However, there are drivers of that metric more potent than quality: most important are medical documentation and patient acuity. If hositals underdocument and therefore do not capture the full “expected mortality” they may be tempted to lower their observed/expected ratio by reducing “observed mortality” through limiting access to the very ill. Underdocumentation occurs because hospitals do not recognize, and therefore cannot seek to confirm, specific comorbidities conferring high mortality risk. To help hospitals identify these comorbidities, this paper describes an easily implemented spread-sheet for evaluating comorbid conditions associated, in any particular hospital, with each discharge. This method identifies comorbidities that increase in frequency as mortality risk increases within each diagnostic grouping. The method is inductive and therefore independent of any particular risk-adjustment technique.
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Cavallo, Eduardo A., and Patricio Valenzuela. "The Determinants of Corporate Risk in Emerging Markets: An Option-Adjusted Spread Analysis." IMF Working Papers 07, no. 228 (2007): 1. http://dx.doi.org/10.5089/9781451867923.001.
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Boliari, Natalia, and Kudret Topyan. "Holding Companies and Debt Financing: A Comparative Analysis Using Option-Adjusted Spreads." Journal of Risk and Financial Management 15, no. 12 (December 1, 2022): 569. http://dx.doi.org/10.3390/jrfm15120569.
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This work investigates and compares the total risk attributable to holding and operating companies, using data from the United States. By proxying overall risk by the option-adjusted spread on corporate bonds, we hypothesize that operating companies face a higher risk. Our data were obtained from Bloomberg and comprise 17,800 corporate bonds. Our methodology entails stratified univariate comparisons of the means of the option-adjusted spreads of sub-samples of operating companies versus holding companies. The principal bases of stratification are issue size, bond maturity, and creditworthiness proxied by the Standard and Poor ratings. With very few exceptions, our results report insignificant t-statistics, thus making us unable to reject the null hypothesis that the operating companies have the same business risk as holding companies. When bond rating, maturity, and size are controlled, there is no consistent cost reduction attributable to holding companies, and contrary to common belief, this is more visible for smaller firms. Our work suggests that there is no evidence consistently favoring holding-company financing compared to operating ones.
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Angelidis, Timotheos, and Alexandros Benos. "Liquidity adjusted value-at-risk based on the components of the bid-ask spread." Applied Financial Economics 16, no. 11 (July 2006): 835–51. http://dx.doi.org/10.1080/09603100500426440.
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Guender, Alfred, and Bernard Tolan. "The predictive ability of a risk-adjusted yield spread for economic activity in Europe." Empirica 44, no. 1 (October 1, 2015): 1–27. http://dx.doi.org/10.1007/s10663-015-9309-z.
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Ortolano, Alessandra, and Eugenia Nissi. "The Volatility of the “Green” Option-Adjusted Spread: Evidence before and during the Pandemic Period." Risks 10, no. 3 (February 22, 2022): 45. http://dx.doi.org/10.3390/risks10030045.
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The paper is an investigation on the impact of financial markets on the volatility of the green bonds credit risk component, measured by the option-adjusted spread/swap curve (OAS) before and during the pandemic period. To this purpose, after observing the dynamic joint correlations between all the variables, we adopt Exponential and Generalized AutoRegressive Conditional Heteroskedasticity models, putting the OAS as dependent variable. Our main results show that the conditional variance parameters are significant and persistent in both times, testifying the overall impact of the other markets on the OAS. In more detail, we highlight that the gamma in the two Exponential models is positive: so, the “green” credit risk volatility is more sensitive to positive shocks than to negative ones. With reference to the conditional mean, we note that if during the non-pandemic period only the stock market is significant, during the pandemic also conventional bonds and gold are impacting. To the best of our knowledge this is the first study that analyzes the specific credit risk component of the green bond yields: we deem our findings useful to observe the change of green bonds creditworthiness in a complex market context and interesting in terms of policy implications.
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Russell, Tara A., Hallie Chung, Christina Riad, Sarah Reardon, Kevork Kazanjian, Robert Cherry, O. Joe Hines, and Anne Lin. "Sustaining Improvement: Implementation and Spread of a Surgical Site Infection Bundle." American Surgeon 84, no. 10 (October 2018): 1665–69. http://dx.doi.org/10.1177/000313481808401026.
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Surgical site infections (SSIs) are considered a quality metric across surgical specialties and are a major cause of increased readmissions and overall costs to surgical patients. Bundled interventions have demonstrated efficacy in reducing SSIs in various surgical fields, yet the ability to sustain and spread interventions while continuing to reduce infection rates is a significant challenge. This study assessed the implementation and sustainability of an SSI bundle, which was initially piloted within the colorectal surgery division and then spread to additional general surgery services. Outcomes (risk-adjusted ACS-NSQIP odds ratio and observed to expected (O:E) SSI rates) and process measures were monitored on run charts throughout the course of the intervention. By the end of the study period, ACS-NSQIP risk-adjusted odds ratios for SSIs decreased from 1.22 to 0.95 for colorectal procedure targeted and 1.32 to 1.04 for all general surgery procedures ( P < 0.05). O:E ratios showed similar reductions. SSI reductions were associated with process measure compliance. This study demonstrates that effective implementation within a single surgical division provides the foundation for spread of a SSI bundle, which results in continued and sustained reductions in SSI rates.
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Yang, Yurun, Ahmet Goncu, and Athanasios Pantelous. "Pairs trading with commodity futures: evidence from the Chinese market." China Finance Review International 7, no. 3 (August 21, 2017): 274–94. http://dx.doi.org/10.1108/cfri-09-2016-0109.
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Purpose The purpose of this paper is to compare the profitability of different pairs selection and spread trading methods using the complete data set of commodity futures from Dalian Commodity Exchange, Shanghai Futures Exchange and Zhengzhou Commodity Exchange. Design/methodology/approach Paris trading methods that are proposed in the literature are compared in terms of the risk-adjusted returns visa in-sample and out-of-sample backtesting and bootstrapping for robustness. Findings The empirical results show that pairs trading in the Chinese commodity futures market offers high returns, whereas, the profitability of these strategies primarily depends on the identification of suitable pairs. The observed high returns are a compensation for the spread divergence risk during the potentially longer holding periods, which implies that the maximum drawdown is more crucial compared to other risk-adjusted return measures such as the Sharpe ratio. Originality/value Complementary to the existing literature, for the Chinese commodity futures market, it is shown that if shorter maximum holding periods are introduced for the spread positions, then the pairs trading profits decreases. Therefore, the returns do not necessarily imply market inefficiency when the higher maximum drawdown associated with the holding period of the spread position is taken into account.
Dissertations / Theses on the topic "Spread Risk Adjusted"
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Galasso, Concetta. "Le determinanti del rating e del pricing risk adjusted nelle operazioni di project finance." Doctoral thesis, Luiss Guido Carli, 2008. http://hdl.handle.net/11385/200749.
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Il processo di identificazione e gestione dei rischi nelle operazioni di project financing. Il rischio di credito nelle operazioni di project financing e il nuovo accordo di Basilea. La definizione di un modello di valutazione del rischio di credito secondo i Rating Grade Slotting Criteria di Basilea. Evidenze empiriche dell'applicazione delle nuove regole di Basilea in materia di project financing.
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Silva, Paulo José Martins Jorge da. "Determinants of corporate risk using option-adjusted spreads : the case of Portugal." Master's thesis, Instituto Superior de Economia e Gestão, 2011. http://hdl.handle.net/10400.5/10215.
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Mestrado em FinançasEste estudo analisa os determinantes dos spreads de taxas de juro das obrigações de empresas no mercado obrigacionista português. A utilização da abordagem Option-Adjusted Spread ultrapassa as dificuldades na definição das emissões de dívida pública de referência para o cálculo dos spreads de taxa de juro e permite a comparação de obrigações com diferentes características. Os resultados do estudo sugerem que os indicadores das empresas que reflectem a gestão realizada, as características das obrigações, o risco soberano, as condições macroeconómicas do país e os efeitos externos, concorrem para a determinação dos níveis dos prémios de risco requeridos pelos investidores em obrigações de empresas. Os resultados obtidos apontam, também, para uma elevada dependência dos custos de financiamento do sector bancário local relativamente ao risco soberano e ao nível de endividamento público na economia.
This study analyses the determinants of corporate bond spreads in Portugal. Using an Option-Adjusted Spread (OAS) approach we overcome the difficulties of comparing bonds with different cash-flow characteristics. OAS considers credit risk and contingent cash-flow risks, which allows the determination of a contingent premium analysis based on the bond?s characteristics. Our findings suggest that corporate bond risk spreads are determined by firm specific factors, bond characteristics, sovereign risk, macroeconomic conditions and external variables. We also find evidence of high dependency of the banking industry implicit funding costs on the sovereign risk proxy variable and the ratio of Public Debt to GDP.
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Lee, Chien-Cheng, and 李建成. "Bank Spread Management and Hedging Behavior Under Risk-Adjusted Deposit Insurance Pricing." Thesis, 2002. http://ndltd.ncl.edu.tw/handle/40524915193379201711.
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碩士淡江大學
國際貿易學系
90
A potential reform of risk-adjusted deposit insurance pricing with forward contracts is presented. We demonstrate that bank spread management itself may provide the Federal Deposit Insurance Corporation’s (FDIC’s) protection from credit and interest rate risks even though the bank’s spread decisions are made prior to the realization of those two risks. But if the bank’s spread decisions are made subsequent to the realization of the credit and/or interest rate risks, the forward contracts may serve the FDIC for microhedging and/or macrohedging purposes. Further, a decrease in the capital-to-deposits ratio decreases the FDIC’s going-concern insurance premium market value. This paper suggests that capital regulation and bank spread management can also be important in influencing the FDIC’s hedging decisions.The conclusions of this article as follow:1. When the government controls the capital-to-deposits ratio rigorously, the FDIC can increase its deposit insurance premium.2. When the banks increase its rate of deposit, the FDIC can increase its deposit insurance premium.3. When the banks can control the loan with rigorous, the FDIC can decrease its deposit insurance premium.
Books on the topic "Spread Risk Adjusted"
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Cavallo, Eduardo A. The determinants of corporate risk in emerging markets: An option-adjusted spread analysis. [Washington, D.C.]: International Monetary Fund, Research Dept., 2007.
Find full textBook chapters on the topic "Spread Risk Adjusted"
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Bendimerad, Fouad. "The Role of Earthquake Insurance in Earthquake Risk Reduction and Resilience Building." In Springer Tracts in Civil Engineering, 277–86. Cham: Springer International Publishing, 2021. http://dx.doi.org/10.1007/978-3-030-68813-4_12.
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AbstractResilience is defined as “The ability to prepare and plan for, absorb, recover from and more successfully adapt to adverse events” (US National Academies). Resilience has four pillars: • Anticipate: the ability to anticipate and reduce the impact of shocks through preparedness and planning, • Absorb the ability to absorb and cope with the impacts of shocks and stresses. • Adapt: the ability to change in response to multiple, long-term and future risks, and to learn and adjust after a shock materializes. • Transform: the ability to take deliberate steps to change the systems that create risk, vulnerability and or inequality. How does insurance intervene in building resilience? The outcome of insurance is to restore property and livelihoods in case of an adverse effect. It does that by providing a cash infusion into the socio-economic system of the affected communities immediately after the event. The cash is used to restore property and avoid interruption of commercial and industrial activity. Insurance also intervenes in terms of reducing impact of stresses (which are the more extensive types of risk) since it enables a system of “maintenance” by providing funds for recovery under minor but more frequent events. For most developing countries, governments have been the insurer of last resort when it comes to catastrophe risk (referred to as Cat Risk in the insurance industry). The reason is that level of cat insurance penetration in most developing countries is very low, sometimes lower than 1%. The assurance of government intervention coupled with the lack of effectiveness of the financial transaction associated with a traditional insurance policy negate any incentive for individuals to acquire a cat insurance policy. The Turkish Compulsory Insurance Program or TCIP is one of the early experiment to change that paradigm and to provide a meaningful role for cat insurance in emerging economies. After a slow start, TCIP has now developed the financial capacity and the spread of coverage to play a significant role both in the financing of risk but also in supporting earthquake risk reduction in Turkey. New cat insurance products based on parametric indexing have since emerged. These insurance products could further improve the efficiency of TCIP and other cat insurance pools by making them more attractive to individuals, thereby scaling up their contribution to building resilience.
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Abraham, Aby, John Casares, and Jibran Ali Shah. "Floating Rate Notes." In Debt Markets and Investments, 265–82. Oxford University Press, 2019. http://dx.doi.org/10.1093/oso/9780190877439.003.0015.
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This chapter provides an overview of floating rate notes (FRNs). Although FRNs originated in Europe, their first introduction in the United States came in 1974 when Citicorp sold $650 million worth of its 15-year notes. Since that time, FRNs have evolved into a variety of types. FRN types covered in the chapter include the plain, capped, floored, collared, reverse, super, deleveraged, perpetual, and flip-flop. An FRN can have a maturity of up to 30 years and include periodic interest rate adjustments throughout its life. An FRN uses a reference rate, such as London Interbank Offer Rate (LIBOR), Treasury bill (T-bill) rate, prime rate, or domestic certificate of deposit rate plus a spread to determine its coupon rate. The chapter provides a discussion of such risk factors as interest rate risk, credit risk, call/reinvestment risk, liquidity risk, and market risk. Additionally, it covers FRN valuation using spread for life, effective margin, total adjusted margin, discount margin, and option-adjusted spread methods.
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Cheng, Yiying. "Valuing and Analyzing Bonds with Embedded Options." In Debt Markets and Investments, 453–76. Oxford University Press, 2019. http://dx.doi.org/10.1093/oso/9780190877439.003.0025.
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This chapter introduces the analysis and valuation of bonds with embedded options. For callable bonds, it discusses their unique reinvestment risk and negative convexity. For both callable bonds and puttable bonds, the chapter introduces two additional measures to gauge their risk: yield-to-call and yield-to-put, respectively. The chapter reviews the application of the spot rate curve in bond valuation and introduces the Z-spread to measure bond-specific risk more accurately. To model interest rate risk, the chapter builds a binomial interest rate model and calibrates it with on-the-run Treasury issues. The option-adjusted-spread (OAS) is introduced to measure the bond-specific risk excluding the option effect. The difference between Z-spread and OAS represents the option effect. Common measures of convertible bond risk and value are discussed including the possibility of valuating a convertible bond using option-pricing models and its drawbacks.
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Dunis, Christian L., Jason Laws, and Ben Evans. "Modelling and Trading the Soybean-Oil Crush Spread with Recurrent and Higher Order Networks." In Artificial Higher Order Neural Networks for Economics and Business, 348–66. IGI Global, 2009. http://dx.doi.org/10.4018/978-1-59904-897-0.ch016.
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This chapter investigates the soybean-oil “crush” spread, that is the profit margin gained by processing soybeans into soyoil. Soybeans form a large proportion (over 1/5th) of the agricultural output of US farmers and the profit margins gained will therefore have a wide impact on the US economy in general. The chapter uses a number of techniques to forecast and trade the soybean crush spread. A traditional regression analysis is used as a benchmark against more sophisticated models such as a MultiLayer Perceptron (MLP), Recurrent Neural Networks and Higher Order Neural Networks. These are then used to trade the spread, the implementation of a number of filtering techniques as used in the literature are utilised to further refine the trading statistics of the models. The results show that the best model before transactions costs both in- and out-of-sample is the Recurrent Network generating a superior risk adjusted return to all other models investigated. However in the case of most of the models investigated the cost of trading the spread all but eliminates any profit potential.
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Xanthopoulos, Gavriil, Miltiadis Athanasiou, Vassiliki Varela, Konstantinos Kaoukis, and Panagiotis Xanthopoulos. "Simple firefighting demand modelling and its use for estimation of the potential influence of fuel treatment scenarios on the number of required firetrucks on the island of Kythira, Greece." In Advances in Forest Fire Research 2022, 361–66. Imprensa da Universidade de Coimbra, 2022. http://dx.doi.org/10.14195/978-989-26-2298-9_57.
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The island of Kythira, in Greece, suffered a devastating forest fire that started on August 4, 2017. After that, it became evident that the location of the island, away from aerial fire suppression resources bases and with limited capacity for quick arrival of significant ground firefighting reinforcements, necessitates careful fire prevention and presuppression planning to avoid repetition of the disaster. The study presented here aimed to examine the adequacy of the available 13 firetrucks on the island to successfully carry out initial attack under similar conditions to those of 2017 and to evaluate what could be the effect of four alternative fuel treatment scenarios on reducing the potential of a future disaster. A map of the forest fuels on the island, a weather scenario similar to the conditions at the start of the 2017 fire, and the Digital Elevation Model (DEM) of the island were used with a fire spread simulator (G-FMIS) first to simulate the actual fire and to examine if it matches the observed fire spread in 2017. Once good agreement was verified, four fuel treatment scenarios were applied on the fuels. The accordingly adjusted fuel map was used for further simulations. The resulting fire perimeter growth, taking flame length into consideration, was examined against the capacity of ground forces (firetrucks) to control lengths of the perimeter using a simple but effective fire suppression model, that is based on an equation developed earlier for assessment of the effectiveness of such forces in Greece. The results showed that under broadcast grazing on the island the risk of escaped fires can be minimized, reducing the need for heavy aerial support in case of a fire.
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Dyer, Matthew. "Valuing and Analyzing Mortgage-Backed and Asset-Backed Securities." In Debt Markets and Investments, 477–98. Oxford University Press, 2019. http://dx.doi.org/10.1093/oso/9780190877439.003.0026.
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This chapter discusses how to value and analyze asset-backed securities (ABSs) with an emphasis on mortgage-backed securities (MBSs). Valuation differs fundamentally from traditional fixed-income securities due to the risks presented by fluctuations in the securities’ monthly cash flows derived from unscheduled principal repayments. For an MBS, prepayments, which are largely a function of interest rates, housing turnover, refinancing sensitivity, burnout, and a host of borrower inefficiencies, can cause drastic fluctuations in the security’s theoretical or intrinsic value. Once an estimate of forecasted prepayment rates and default rates, if applicable, has been calculated, monthly cash flows are determined and discounted at the appropriate discount rate. Spread measures such as the zero-volatility spread (Z-spread) and the option-adjusted spread can be used to approximate the necessary discount rates applicable to monthly cash flows, the latter of which can be calculated via the Monte Carlo simulation method.
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Wickramasinghe, Amila, Nazmul Khan, Alexander Filkov, and Khalid Moinuddin. "Physics-Based Modelling for Mapping Firebrand Flux and Heat Load on Structures in the Wildland-Urban Interface’." In Advances in Forest Fire Research 2022, 746–50. Imprensa da Universidade de Coimbra, 2022. http://dx.doi.org/10.14195/978-989-26-2298-9_114.
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The mechanisms of structure ignition by wildfires are classified into direct flame contact, radiant heat, firebrand attack and a combination of two or all of them. Arguably, airborne firebrands play a vital role as the main cause for structure ignition and fire propagation by forming spot fires far from the fire front. Firebrand flux and the heat load are important parameters to calculate the wildfire risk on structures. Australian Building Standard AS3959 is developed based on radiation heat flux and it does not quantify the effects of firebrand landing flux on structures to assess the wildfire risk completely. To improve the assessment of the Bushfire Attack Level (BAL) in AS3959, there is a need for firebrand flux quantification at different scales of wildfires. Lacking information about firebrand generation from various vegetation species at different environmental conditions creates a gap to estimate the firebrand flux accurately. In this study, we aim to use a physics-based model to quantify the firebrand generation rate of Eucalyptus dominant forest vegetation at different severities of wildfires expressed by the Fire danger indices (FDI) of 100, 80, 50. The wind speed is adjusted while keeping the temperature, relative humidity, and drought factor as constants to obtain the focused FDIs. A 40 m height Eucalyptus forest is modelled with 25 t/ha understorey and 10 t/ha canopy fuel loads as per AS3959 forest vegetation classification. The forest fires are prescribed with the intensities of 53.4, 43.1, and 27 MW/m with 100 m length to replicate the fire events explained by FDIs. The depth of the fireline is approximated according to the fire residence time and the spread rate. The firebrand size, shape, and quantity are taken from our previous firebrand generation study (Wickramasinghe et al. 2022) and the particles are injected randomly through the forest volume which is engulfed by the fire. The distances between the modelled structure that follows an Australian standard house design and the vegetation are maintained according to the BALs. We obtained the radiative heat flux on the houses close to the algorithm provided in AS3959 for each BAL. In this study, both firebrand and heat flux are quantified at strategic locations of the house. We find a logarithmic relationship exists between firebrand flux and radiative heat flux in the range of R2 0.96 to 0.99. Hence, for a certain BAL, the firebrand flux increases with the FDI similar to radiative heat flux. Results from this study can be used to quantify the firebrand flux on houses from different vegetation fires, which may improve the design standards and construction requirements of buildings to mitigate the vulnerability of wildfires at the wildland-urban interface (WUI).
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Baumann, Jonas S., and Nazreen Ismail. "Legal uncertainty under the Protection of Personal Information Act during the pandemic." In The Impact of Covid-19 on the Future of Law, 71–96. UJ Press, 2022. http://dx.doi.org/10.36615/9781776405657-04.
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In early 2020, the COVID-19 virus rapidly spread around world and forced people to significantly adjust their lives. Lockdowns compelled society to digitalise, thereby substantially increasing the processing of personal information. On 17 June 2020, when South Africa faced the pandemic’s “first wave”, key provisions of the Protection of Personal Information Act 4 of 2013 (POPIA) were enacted from 1 July 2020, further enabling full enforcement from 1 July 2021. This first South African omnibus data protection act unleashes legal uncertainty due to the highly abstract formulation of its provisions. Considering the recent increase of processing of personal information, the “young” POPIA is under pressure to evolve quickly to mitigate liability risks for responsible parties and at the same time provide a reliable and predictable framework ensuring the protection of protection of personal information.
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Lytle, Mark H. "In Debt We Trust." In The All-Consuming Nation, 330–60. Oxford University Press, 2021. http://dx.doi.org/10.1093/oso/9780197568255.003.0015.
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The chapter first looks at the Great Inflation that wreaked havoc on the American economy and especially the working and middle classes. The economy shifted away from consumer goods manufacturing to services, dominated by jobs in government, healthcare, recreation and leisure, education, and the professions. Workers, for example, were more likely to drive cabs than to build them. All the same, American consumers continued their spendthrift ways in the 1980s, despite their lower purchasing power. They adjusted their consumer habits in three significant ways: where they shopped, how they paid for goods and services, and what they bought. The first section thus looks at the rise of the “big-box” stores, led by Wal-Mart and Sam Walton, that traded amenities for low prices and in that way extended purchasing power. A number of financial instruments—credit cards, ATMs, mutual money funds—allowed consumers easier access to consumer loans and savings. Finally, technological innovation transformed home and personal entertainment in the form of cable television, tape cassette players, the VCR, and other electronics that also empowered grassroots styles such as punk, rap, and independent films to go mainstream. That cultural upheaval triggered a moral backlash led by evangelical Christians and televangelists such as Oral Roberts, Pat Robertson, and Jerry Falwell. Ironically, they employed the same media technologies to reach mass audiences in order to spread the word that included the ultimate consumer faith: prosperity theology.
Conference papers on the topic "Spread Risk Adjusted"
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Fam, Mei Ling, Dimitrios Konovessis, Xuhong He, Lin Seng Ong, and Hoon Kiang Tan. "Analysing Dependent Failures in a Bayesian Belief Network." In ASME 2019 38th International Conference on Ocean, Offshore and Arctic Engineering. American Society of Mechanical Engineers, 2019. http://dx.doi.org/10.1115/omae2019-95853.
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Abstract Fault trees (FT) and event trees (ET) have been used thoroughly in risk analysis and there have been a few published articles outlining how to map FTs and ETs to Bayesian Belief Networks (BBN). There have been documented benefits of a BBN being able to consider Common Cause Failures (CCF) and conditional dependencies. With modelling CCFs in a BBN, there is a possibility to increase the level of analysis of a CCF by breaking down the analysis to the respective CCF Categories, such as Environment, Maintenance or Design. This allows a better understanding of the contributing events given a defined accident scenario. Also, in the decommissioning industry, there is no established database yet for CCF of components, as decommissioning projects are sparse and spread out across different operating conditions. Hence it may be practical to adjust generic CCFs to obtain facility-specific parameters for common cause failures. The paper thus highlights how to express CCFs with a Beta-Factor Model in a BBN and by extension, undertake an extended level of analysis according to CCF categories and adjust generic database common cause factors to a facility-specific factor based on a checklist. The technique is applied to a risk analysis of a well plugging and abandonment event.
Reports on the topic "Spread Risk Adjusted"
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Kinnan, Cynthia, Krislert Samphantharak, Robert Townsend, and Diego A. Vera-Cossio. Research Insights: How Do Economic Networks Contribute to the Spread and Mitigation of Health Shocks? Inter-American Development Bank, August 2022. http://dx.doi.org/10.18235/0004420.
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Small firm owners facing idiosyncratic shocks adjust production by cutting spending and reducing their demand for external workers. These shocks propagate to other local households with whom shocked firms trade inputs and labor through local supply-chain and labor market networks, leading to declines in transactions, income, and consumption. The total indirect effects are larger than the direct effects: a US$1 decline in a shocked households business spending reduces aggregate consumption by US$1.7. Both the direct and indirect effects are mitigated by incoming transfers to shocked households with access to risk-sharing networks. Therefore, having access to health insurance protects both directly affected households as well as those who conduct transactions with them.