bias formula Thomas Noe Balliol College/SBS 21st October‚ 2013 This note relates to the derivation of the “quick and dirty” formula for estimating the bias generated by using the YTM as an approximation of the expected return on debt. The assumptions: 1. Debt is perpetual 2. probability of default is δ in each period. The probability is the same in every period 3. If default occurs‚ bondholders receive ρ fraction of the face (principal) value of the bond plus accrued interest. 4. Bond is
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University of Toronto ECO 349 Money‚ Banking and Financial Markets G. Georgopoulos Student name: Kaiji Lin Student number: 997800535 Assignment 1. Find a recent (August 2011‐ present) money and banking related article in the media (the Economist‚ Globe and Mail‚ National Post‚ New York Times‚ etc.‚)‚ and attempt to explain parts or all of it using the tools we learned in class. Highlight the sentences that you analyze‚ and hand in the article along with your work. Use written and graphical
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Meeting new people can be a complicated procedure. The reason many people find it difficult to meet total strangers is because not one single person is the same. Many people find it easy to start up a conversation with total strangers while others have a fear of rejection. Some people are outgoing‚ some shy‚ some talkative‚ while some cannot even talk to themselves. Meeting new people can be difficult because there are so many different types of people and many places in which to find these different
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Television and Video Games have or haven’t had an influence in our lives My opinion on this topic argues both sides‚ I have opinions for either side of the debate. I think that games are good to keep peoples mind working and a lot of them improve the way people think. Games can stimulate your mind and thought process. As long as games do not take over your life they are perfectly fine. Young children have to be guided no matter what it is that they do. Teaching children to manage time wisely will
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Hospitals‚ prisons and other community service agencies‚ in addition to being landing pads for those with mental illness‚ also contribute to the problem of homelessness through mounting debt and inadequate discharge planning. Medical debt is the leading cause of bankruptcy and contributes to housing instability in 27% of people struggling with medical bills (Pollitz et al. n.p.). Even among individuals with private health insurance‚ those with “out-of-pocket medical expenses that exceed five percent of their
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emerged as one of the party’s leaders. Gandhi preached passive resistance‚ believing that acts of violence against the British only provoked a negative reaction whereas passive resistance provoked the British into doing something which pushed more people into supporting the Indian National Congress movement. Gandhi was imprisoned in 1922‚ 1930‚ 1933 and in 1942. While in prison‚ he went on hunger strike. When in India‚ Gandhi took on the British where possible. He famous walk to the sea to produce
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The 2001 documentary Life and Debt examines the impact of IMF and World Bank’s ‘structural adjustment policies’ (also called ‘conditionalities’) on Jamaica. The IMF started lending to Jamaica in 1973‚ after years of extreme poverty were followed by the ‘oil shock’ that created a global economic catastrophe‚ eventually leaving the country about $4.6 million in debt. The loans were front-loaded with conditions‚ requiring Jamaica to “enact major economic reforms‚ including trade liberalization (The
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DRIVE PROGRAM SEMESTER SUBJECT CODE & NAME BK ID CREDITS MARKS ASSIGNMENT WINTER 2013 MBADS/ MBAFLEX/ MBAHCSN3/ MBAN2/ PGDBAN2 1 MB0041 FINANCIAL AND MANAGEMENT ACCOUNTING B1624 4 60 Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme. Q.No Questions Marks Total Marks 1 Give the classification of Accounts according to accounting equation approach with
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In recent years‚ the way people perceive others has been increasingly affected by appearance. Individuals may face future consequences because of the decision to get a tattoo or piercing. Although a tattoo may be regarded as art to one individual‚ it could be seen as a thoughtless mistake to someone else. The problem is that many people judge others before getting to know them on a deeper level. In this decade‚ appearance means everything; it can affect a person’s job security‚ personal treatment
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In any Society‚ through interaction amongs differents individuals‚ people identify themselves in a certain group. For instance‚ in a classroom‚ usually each student has an unique student number‚ by accepting such a number‚ every student has a valid identification in the class and thus can conduct daily learning activities.However‚ that doesn’t mean we at the same time define ourselves or find our existence through identificaition with social groups‚ on the contrary‚ we can easily lose ourselves when
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