Bond Implied CDS Spread and CDS-Bond Basis Richard Zhou†‡ August 15‚ 2008 Abstract We derive a simple formula for calculating the CDS spread implied by the bond market price. Using no-arbitrage argument‚ the formula expresses the bond implied CDS spread as the sum of bond price‚ bond coupon and Libor zero curve weighted by risky annuities. We show that the bond implied CDS spread is consistent with the standard CDS pricing model if the survival probabilities and recovery are consistent
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Literature Search To identity relevant literature for this report I searched three criminology databases (AGIS‚ CINCH and Criminal Justice Abstracts)‚ two criminology journals (British Journal of Criminology and the Australian and New Zealand Journal of Criminology)‚ two social work journals (Australian Social Work and The British Journal of Social Work) and one general database (ProQuest) using a combination of the following key terms: recidivism‚ meta-analysis‚ criminology‚ community‚ systematic
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way to do this.During poetry cafe‚ our group sang a song called “Life is Worth Living”‚ it’s originally song by Justin Bieber. This song can inspire me‚ because I can sing the song to let others remember me and have a good impression. I will discuss three figurative languages in this essay‚ which is Smile‚ Hyperbole and Rhyme‚ and they all can show the essence of this song. When the song sings that "It’s like you’re stuck on a treadmill.”‚ the author uses a simile. Simile means to compare two things
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is a very unique law that borrowing its name from baseball. Which is the three strikes law‚ it imposed mandatory minimum sentences for individuals who have been convicted of three felony crimes that were committed on three separate occasions. According to Bazelon‚ the ideology behind the three strikes law is that individuals who commit more than two felonies are chronically criminal and therefore pose a threat to society. Three strikes law advocates‚ as a fair punishment and a benefit to society‚ thus
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the power bestowed upon them. In order to prevent this potential exploitation from occurring the framers were certain to build a systems of checks and balances. Within this system rests the three branches of government. They are the executive‚ the legislative and the judicial branches. Each of the three branches is responsible for its own functions and each are responsible for providing necessary oversight to the other. The first branch of government is called the legislative branch. The
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The three types of theories I chose are Behaviorism‚ Psychodynamic‚ and Humanistic. I chose these three because they intrigue me the most. Psychodynamic psychology was one of the first types of theories created. The first studies were published by Sigmund Freud in 1895. The next one out of these three created was Behaviorism. In 1913 John Watson presents behavioristic views. Last was Humanistic psychology created in 1943 when Abraham Maslow publishes "A Theory of Human Motivation." (Coon‚ 2006‚ pg
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With this type of parenting‚ when children try to challenge the rules‚ there is no debating or discussing the situation‚ it’s a strict “because I said so” answer. (Morin‚ n.d.) The way they discipline their children is very different from the other three types of parenting. Discipline is training one to obey the rules or doing something to correct the bad behavior. (Discipline‚ 2011) Strict parents like these believe that when they discipline their child‚ this means to punish them. Consequences are
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The three stages of Cubism with examples It is very clear when you look at these three images‚ how Cubism developed toward Abstraction. Carefully look at the first image‚ then follow on to the next and then look at the last one. See how the picture space opens out completely in the last one and there seems to be no substance to the subject (it’s mainly linear). This information is good for all of the achievement standards but especially 3.1 (Style). Facet (Early) Cubism Girl with
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1. What are three economic stances that a government may have? Describe each of these stances. The three economic stances that a government is one neutral which is a neutral stance indicate a balance economy leads to more tax revenue for the government. Second one is expansionary which is describing by spending more money than it collect. The last one is Contractionary which means the government is collecting more money than spending it or uses it. 2. What are the four different types of economic
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Stakeholders are all those who need to be considered in achieving project goals and whose participation and support are crucial to its success. Stakeholder analysis identifies all primary and secondary stakeholders who have a vested interest in the issues with which the project or policy is concerned. This information is used to assess how the interests of those stakeholders should be addressed in a project plan‚ policy‚ program‚ or other action. The goal of a stakeholder is to develop a strategic
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