The interactions of financial securities are crucial to determine possible portfolio losses. Although this fact is well understood, two questions remain: What causes changes in the dependence structure of financial assets? How can fluctuating dependencies be measured? The most common approach to identify the amplitude of financial assets' interactions are linear correlation coefficients. However, they fail to comprise shifts in the dependence structure. Alternatively, Copulas are a more flexible dependence measurement. This book focuses on the development of Dynamic Copula frameworks by implementing stochastic parameters into Archimedian and Elliptical Copula functions. In contrast to static correlation measures, the Dynamic Copulas are able to replicate unstable financial market interactions. Various Dynamic Copulas are applied to global stock, bond, commodity and exchange rate data to calculate the correlation time paths, which explain financial market reactions to economic shocks. Furthermore, the interactions of dependencies, volatility and returns are analyzed, to determine the efficiency of portfolio diversification in regards to wealth protection. Portfolio risks are estimated through Dynamic Copulas to demonstrate their abilities to replicate financial market interactions accurately. Additionally, this analysis reveals the impact of changing dependence intensities on the magnitude of possible portfolio losses. Finally, the Dynamic Copulas are utilized to allocate higher moment optimal portfolios. This examination emphasizes the effect of inaccurate correlation estimates on the portfolio choice.
Rarely in the history of international tax law have there been so many evolutions in such a short space of time: In a dizzying array of reports, work programmes, consultations and announcements, the OECD, with the active support of the EU, has created a framework for a global minimum tax (Pillar Two or GloBE). In the meanwhile, jurisdictions are faced with the practical difficulties of incorporating an incredibly complex set of rules into their domestic legal systems. This book aims to shed light on the fundamental and technical issues surrounding the global minimum tax. It seeks to unravel the complex ramifications of GloBE’s technical framework and aims to explore the relationship between the OECD’s soft law materials, including the OECD’s GloBE Model Rules and the GloBE Commentary, tax treaties and the EU’s recently adopted GloBE-Directive. The author not only analyses Pillar Two from a technical and a policy perspective but also provides for a comprehensive examination of the compatibility of Pillar Two with tax treaties and EU law. To this end, the analysis also includes practical examples and illustrates solutions to numerous technical and policy issues of Pillar Two. Among the seminal matters covered are the following: History and Background of the global minimum tax discussion. Detailed technical considerations on the design of Pillar Two, including its scope, the determination of both the ‘GloBE Income’ as well as the ‘Adjusted Covered Taxes’ and the computation of the effective tax rate as well as the computation and collection of the final ‘Top-up Tax’ liability, including the application of the QDMTT, IIR, and UTPR. Tax policy implications and deficiencies of the final design of Pillar Two. The relation of Pillar Two to the current distribution of taxing rights under bilateral tax treaties. The analysis includes the compatibility of the QDMTT, IIR, and UTPR with existing tax treaties and the resolution of potential normative conflicts, both between tax treaties and domestic implementations of Pillar Two as well as between tax treaties concluded by EU Member States and the EU’s GloBE-Directive. The role of the GloBE-Directive within the EU’s legal order, including the issue of EU internal and external competence as well as the substantive compatibility of Pillar Two with primary law, such as the fundamental freedoms. Detailed comparisons between the OECD’s GloBE Model Rules and the EU’s GloBE-Directive elucidate common points and deviations. In addition to comprehensive technical considerations, the book also provides a comprehensive tax policy perspective on the global minimum tax. For its unparalleled clarification of the issues alone, this book will prove invaluable to practitioners, tax authorities, policymakers, and academics concerned with the implementation and application of Pillar Two. ‘Valentin Bendlinger’s book is an outstandingly remarkable work on a highly complex topic. The structure, clarity of thinking, and legal argumentation are excellent, and the legal and policy results throughout are profoundly argued. The book successfully ties together broad concepts of international and European (tax) law with highly complex and novel issues of the taxation of multinational enterprises. It should be highlighted that Valentin Bendlinger succeeded in leading the reader from the history and policy through a “jungle” of unprecedented rules to overarching fundamental issues of how the new taxation framework is to be placed in the international and European legal order.’ – Prof. DDr Georg Kofler, LLM (NYU), Vienna University of Economics and Business.
The Singer's Guide to German Diction is the essential foundation for a complete course in German diction for singers, vocal coaches, choral conductors, and anyone wishing to learn the proper pronunciation of High German. Written by Valentin Lanzrein and Richard Cross, who each have years of experience on stage, in the voice studio, and in the diction classroom, it provides an all-encompassing and versatile reference for the rules of German diction and their exceptions. Featuring an easily navigable format that uses tables and charts to support a visual understanding of the text, this guide allows the reader to find information on diction rules and quick help with the formation of each sound. It also places an emphasis on exceptions to the rules, which are crucial in learning the proper pronunciation of any language. Exceptions are not only provided with the diction rules, but are also gathered in a specific section for ease of reference. A glossary of difficult words, names, and exceptions is provided in the appendix, along with a section on Latin pronounced in the German manner. Extensive pronunciation exercises, as well as IPA transcription worksheets and short examples from the vocal literature, are used for practical application of the diction rules, and feature musical exercises drawn from art song, opera, and oratorio. The book's companion website supplements these musical exercises with high-quality audio clips recorded by leading professional singers, providing an invaluable resource for independent study. A comprehensive companion for teachers, students, and singers alike, The Singer's Guide to German Diction brings German diction to life through its well-structured system of practice and reference materials.
Exploring and highlighting the new horizons in the studies of reaction mechanisms that open joint application of experimental studies and theoretical calculations is the goal of this book. The latest insights and developments in the mechanistic studies of organometallic reactions and catalytic processes are presented and reviewed. The book adopts a unique approach, exemplifying how to use experiments, spectroscopy measurements, and computational methods to reveal reaction pathways and molecular structures of catalysts, rather than concentrating solely on one discipline. The result is a deeper understanding of the underlying reaction mechanism and correlation between molecular structure and reactivity. The contributions represent a wealth of first-hand information from renowned experts working in these disciplines, covering such topics as activation of small molecules, C-C and C-Heteroatom bonds formation, cross-coupling reactions, carbon dioxide converison, homogeneous and heterogeneous transition metal catalysis and metal-graphene systems. With the knowledge gained, the reader will be able to improve existing reaction protocols and rationally design more efficient catalysts or selective reactions. An indispensable source of information for synthetic, analytical, and theoretical chemists in academia and industry.
Paleontologists just recently opened their eyes to the wealth of fossil documents relevant to plant – arthropod interaction and are busy now accumulating raw data. Perhaps the richest regional collection of interaction traces came from the mid-Cretaceous deposits of the Negev Desert, Israel, encompassing the time interval of the rise and basal radiation of angiosperms – the flowering plants. The arthropods (insects and mites) inserting their eggs in the leaves and making leaf mines and galls were discovering new possibilities for endophytic life that the flowering plants provided. Their morphological disparity suggests a diversification race, in which the angiosperms failed to override their leaf parasites. Only a small fraction of insect diversity is represented by body fossils that belong to one extinct and nine extant families of beetles and cockroaches mostly. Because similar structures are produced on leaves by parasitic arthropods of different systematic alliances, a purely morphological classification is worked out for the trace fossils, with but tentative assignments to natural taxa, referring to distinct types of parasitic behavior. It is the Evolution of behavior that is documented by the trace fossils. The body fossils and parasitic traces represent morphologies and behavioral traits fairly advanced for their geological age. The expression, abundance, co-occurrence, and host specialization of parasitic structures, as well as the marks of predation on mines and galls betray regulatory mechanisms of plant – arthropod interaction, analyzed in the broad context of ecosystem evolution, paleogeography and climate change. Co-published by Pensoft Publishers & Brill Academic Publishers
The Handbook of Ordinary Differential Equations: Exact Solutions, Methods, and Problems, is an exceptional and complete reference for scientists and engineers as it contains over 7,000 ordinary differential equations with solutions. This book contains more equations and methods used in the field than any other book currently available. Included in the handbook are exact, asymptotic, approximate analytical, numerical symbolic and qualitative methods that are used for solving and analyzing linear and nonlinear equations. The authors also present formulas for effective construction of solutions and many different equations arising in various applications like heat transfer, elasticity, hydrodynamics and more. This extensive handbook is the perfect resource for engineers and scientists searching for an exhaustive reservoir of information on ordinary differential equations.
In this book Valentin Groebner addresses the notions and practices of gift giving in late medieval and early modern Europe between 1400 and 1550. Focusing on the prosperous cities of the Upper Rhine, it explores the uses of gifts in political ritual and the different functions of these donations. Contemporaries spoke of these gifts—sometimes wine, sometimes coins or other precious metals—as liquid; indeed, the same German word was used for giving a present or pouring a fluid. These gifts were integral parts of an economy of information marking complex differences and dependencies in social status and hierarchy. The gifts were meticulously recorded and governed by strict social codes, yet the terminology and traditions of gift exchange in this period betray deep-seated ambivalence and anxieties about the practice. When, asks the author, does the distribution of gifts to public officials shift from an openly noted, routinely accepted practice to something clandestine, suspect, and off the record? Already by the end of the fourteenth century, the public gifts had their darker counterparts. References appear to more dangerous gifts, usually associated with the male body: from the hands of the corrupt scribe, to the skin of the venal judge, to the private parts of the body politic. A new vocabulary appears in law books, oath formulas, and polemical writing to refer to simony and usury, to Judas's reward, and to the sin of sodomy—in short, to underhanded and invisible relationships in which liquid gifts and bodily fluids mingled in unspeakable ways. The metaphors coined in the later Middle Ages and early modern period for designating illegal offerings are still with us, from "greasing hands" to the sexualized imagery of corruption. Liquid Assets, Dangerous Gifts explores the late medieval archaeologies of these notions and examines uses of political gifts as highly flexible instruments of control, manipulation, and coercion. Groebner sheds new light upon a phenomenon that to this day possesses the capacity to transform social circumstances.
Offered here for the first time in English is a selection of the most important and characteristic works of Valentin Weigel (1533-88). Readers will find in this volume an introduction to the life, times, and writings of Weigel, a German teacher and theologian who articulated a variant of the Protestant Reformation known as Spiritualism: a form of dissent emphasizing spiritual or inner independence from rules, ceremonies, and the visible or organized church. Together, these works present the heart of this reformer's thought, which championed tolerance and individual conscience in an age of confessional hatred and religious war. Weigel's writings are Spiritualist theory at its most accurate. They complete a missing chapter in the history of mystical literature. Book jacket.
The present book is a collection of open-access papers describing the foundations and applications of the Method of Dimensionality Reduction (MDR), first published in the Journal “Facta Universitatis. Series Mechanical Enginerring” in the years 2014-2018. The Method of Dimensionality Reduction (MDR) is a method of calculation and simulation of contacts of elastic and viscoelastic bodies. It consists essentially of two simple steps: (a) substitution of the three-dimensional continuum by a uniquely defined one-dimensional linearly elastic or viscoelastic foundation (Winkler foundation) and (b) transformation of the three-dimensional profile of the contacting bodies by means of the MDR-transformation. As soon as these two steps are done, the contact problem can be considered to be solved. For axial symmetric contacts, only a small calculation by hand is required which does not exceed elementary calculus and will not be a barrier for any practically-oriented engineer. Alternatively, the MDR can be implemented numerically, which is almost trivial due to the independence of the foundation elements. In spite of its simplicity, all results are exact. The present book brings together papers covering the most important aspects of the MDR and providing a practical guide for its use.
This thesis discusses in detail the measurement of the polarizations of all S-wave vector quarkonium states in LHC proton-proton collisions with the CMS detector. Heavy quarkonium states constitute an ideal laboratory to study non-perturbative effects of quantum chromodynamics and to understand how quarks bind into hadrons. The experimental results are interpreted through an original phenomenological approach, which leads to a coherent picture of quarkonium production cross sections and polarizations within a simple model, dominated by one single color-octet production mechanism. These findings provide new insights into the dynamics of heavy quarkonium production at the LHC, an important step towards a satisfactory understanding of hadron formation within the standard model of particle physics.
Presents powerful methods to measure liabilities and assets in the same way. The mathematical framework that leads to market-consistent values for insurance liabilities is explained in detail by the authors.
This volume is devoted to the synthesis, application, structure, and physicochemical properties of nitroazoles (five-membered aromatic compounds). The book is unique in providing the first comprehensive treatment of nitroazoles.
The landmark text that belongs in the hands of every cardiologist―fully updated and reorganized to make it more patient-centric than ever A Doody's Core Title for 2023! World-famous for its authority and clinical relevance, Fuster and Hurst’s The Heart is cardiology’s longest continuously published reference book. Written to meet the ever-changing needs of cardiologists, fellows, and interns, this trusted classic offers a solid foundation in cardiovascular medicine and complete coverage of all major cardiovascular topics. This fifteenth edition presents a greater focus on the practicalities of patient care. Additionally, the content is ordered in a more methodical pattern, from mechanism to management. Reflecting the latest technical, therapeutic, and clinical advances, Fuster and Hurst’s The Heart provides invaluable concise summaries of major new trials and guidelines. Authoritative Coverage and Unmatched Utility: Central Illustrations New section on cardiovascular critical care New chapter "Cardiovascular Disease and COVID-19" Chapter summaries ACC/AHA/ESC guidelines in all chapters 1,200+ photos and illustrations Sections Include: Risk Factors for Cardiovascular Disease Atherosclerosis and Coronary Heart Disease Diseases of the Great Vessels and Peripheral Vessels Valvular Heart Disease Rhythm and Conduction Abnormalities Heart Failure Diseases of the Pericardium Cardiopulmonary Disease Critical Cardiovascular Care Adult Congenital Heart Disease Special Populations and Topics in Cardiovascular Disease
Four years ago when we had finished our work on the first edition of our Handbook we didn't even suppose that three years later it would become necessary to greatly revise and update the material. It happened because of the following developments. 1. The invention and tremendous development of modern nonlinear optical crystals such as BBO, LBO, KTP, ZnGeP , etc. 2 2. Rapid progress in laser techniques (femtosecond CPM laser, Ti: sapphire laser, diode-pumped solid-state lasers, etc.). 3. The appearence of numerous organic crystals which can be synthesized with predictable properties. 4. Progress in the theory of nonlinear frequency conversion utilizing biaxial crystals, femtosecond pulses, etc. 5. Accumulation of new data on the properties of nonlinear optical crystals. In accordance with the above, we have made many changes in the text. The first chapter was revised by D.N. Nikogosyan, the second one by V.G. Dmitriev and D.N. Nikogosyan, and the fourth one by G.G. Gurzadyan. The third chapter, containing the main reference material on 77 nonlinear optical crystals was completely rewritten and updated by D.N. Nikogosyan. The Appendix containing the list of most commonly used laser wavelengths was compiled by D.N. Nikogosyan. We would appreciate any valuable comments and recommendations that will allow us to further improve the Handbook. We would like to thank H.K.V. Lotsch for fruitful and long-lasting cooperation.
The trusted landmark cardiology resource—thoroughly updated to reflect the latest clinical perspectives Includes DVD with image bank A Doody's Core Title ESSENTIAL PURCHASE for 2011! 5 STAR DOODY'S REVIEW! "This is an outstanding choice for those who strive for a firm foundation in cardiovascular medicine, as well as an up-to-date and user-friendly source that addresses every discipline in the field. The updates and enhancements to this edition have made the book easier to use."--Doody's Review Service Through thirteen editions, Hurst’s the Heart has always represented the cornerstone of current scholarship in the discipline. Cardiologists, cardiology fellows, and internists from across the globe have relied on its unmatched authority, breadth of coverage, and clinical relevance to help optimize patient outcomes. The thirteenth edition of Hurst’s the Heart continues this standard-setting tradition with 19 new chapters and 59 new authors, each of whom are internationally recognized as experts in their respective content areas. Featuring an enhanced, reader-friendly design, the new edition covers need-to-know clinical advances, as well as issues that are becoming increasingly vital to cardiologists worldwide. As in previous editions, you will find the most complete overview of cardiology topics available—plus a timely new focus on evidence-based medicine, health outcomes, and health quality. New Features 1548 full-color illustrations and 578 tables Companion DVD with image bank includes key figures and tables from the text The Cardiovascular Disease: Past, Present, and Future section includes a new chapter on assessing and improving quality of care in cardiovascular medicine The section on the scientific foundations of cardiovascular medicine has been thoroughly revised 2 new chapters in the section on the evaluation of the patient detail the process of effective diagnostic decision making based on technology, clinical trials, and practice guidelines A new chapter in the section on heart failure details cardiac transplantation The sections on primary heart disease include new chapters on topics such as preventive strategies for coronary artery disease and updated pharmacologic strategies for acute coronary syndromes The section on cardiopulmonary disease features new chapters on chronic cor pulmonale and sleep disorder breathing and its relationship to cardiovascular disease The section on valvular heart disease has four of the six chapter completely rewritten by new authors who are authorities in the field The final six sections feature new chapters on the environment and heart disease, surgical treatment of carotid and peripheral vascular disease and cost effective strategies in cardiology
An all-inclusive overview of cardiology in a trusted landmark reference A Doody's Core Title ESSENTIAL PURCHASE! 5 STAR DOODY'S REVIEW! "This well-organized textbook begins with a thoughtful discussion of cardiology's past and future. It presents readers with the foundations of cardiovascular medicine and the basics of cardiovascular evaluation. These initial chapters provide an excellent overview of topics in general cardiology from guidelines to newer diagnostic modalities such as MRI, CT, and PET. Subsequently, the book is organized to provide readers with a focused approach to other areas of cardiology from heart failure to electrophysiology and interventional cardiology." This is a very useful reference that compiles a vast amount of information on the diagnosis and management of cardiovascular diseases in one book. It continues to be one of best overall references in this field. -- Doody's Review Service Developed by a team of internationally renowned editors and authors, Hurst's The Heart is synonymous with the most comprehensive and current perspectives on treating the full range of heart problems. Inside, you'll get an incisive look at all the global advances in the diagnosis and management of cardiovascular disease, including the translation of basic science research into clinical applications. And integrated throughout are the latest treatment protocols, ACC/AHA and ESC treatment guidelines, as well as quick-reference tables and algorithms. NEW to this Edition: Stunning full-color illustrations Information from the COURAGE trial, covering the use and misuse of drug eluting stents Vital coverage of advances in the treatment of pulmonary hypertension and new information on hypertrophic cardiomyopathy Expert-authored chapters on coronary blood flow, stunning, and hibernation; race and ethnicity in cardiovascular disease; and cardiovascular physiology Up-to-date information on the diagnosis and management of heart failure Latest guidelines for the management of atrial fibrillation New advances in curative catheter ablation of arrhythmias Increased number of international contributors Expanded chapters on epidemiology, diagnosis, and treatment of hypertension
Cardiology’s cornerstone text – thoroughly updated to reflect the latest clinical perspectives and cutting-edge topics Hailed for its authority, currency, and ability to translate the latest technical and clinical advances into clinical application, Hurst’s The Heart is the field’s landmark text and cardiology’s longest continuously published reference text. A previous edition of this trusted classic was described by Doody’s as “an outstanding choice for those who strive for a firm foundation in cardiovascular medicine, as well as an up-to-date and user-friendly source that addresses every discipline in the field.” Readers will find succinct, visually appealing summaries of all the major new trials, and guidelines, along with tips for optimizing outcomes and health quality. The Fourteenth Edition has been completely updated to reflect the latest technical, therapeutic, and clinical advances, while still maintaining a strong focus on patient care. Other enhancements include the addition of textual features such as Practice Points, Common Clinical Questions, and an increased number of the acclaimed Hurst’s diagrams. • NEW TO THIS EDITION: Section on Metabolic Disorders and Cardiovascular Disease, Cigarette Smoking and Cardiovascular Disease • Enhanced by more than 1,500 full-color illustrations and more than 500 tables • Brand new chapters include: Arrythmogenic Cardiomyopathy, Ischemic Mitral Regurgitation, Degenerative Mitral Valve Disease, Left Ventricular Noncompaction, Evaluation and Management of Acute Heart Failure, Carotid Artery Stenting, Race, Ethnicity, and Cardiovascular disease • The only comprehensive cardiology reference to publish every 2.5 years to allow for reporting of the latest trials and guidelines
The interactions of financial securities are crucial to determine possible portfolio losses. Although this fact is well understood, two questions remain: What causes changes in the dependence structure of financial assets? How can fluctuating dependencies be measured? The most common approach to identify the amplitude of financial assets' interactions are linear correlation coefficients. However, they fail to comprise shifts in the dependence structure. Alternatively, Copulas are a more flexible dependence measurement. This book focuses on the development of Dynamic Copula frameworks by implementing stochastic parameters into Archimedian and Elliptical Copula functions. In contrast to static correlation measures, the Dynamic Copulas are able to replicate unstable financial market interactions. Various Dynamic Copulas are applied to global stock, bond, commodity and exchange rate data to calculate the correlation time paths, which explain financial market reactions to economic shocks. Furthermore, the interactions of dependencies, volatility and returns are analyzed, to determine the efficiency of portfolio diversification in regards to wealth protection. Portfolio risks are estimated through Dynamic Copulas to demonstrate their abilities to replicate financial market interactions accurately. Additionally, this analysis reveals the impact of changing dependence intensities on the magnitude of possible portfolio losses. Finally, the Dynamic Copulas are utilized to allocate higher moment optimal portfolios. This examination emphasizes the effect of inaccurate correlation estimates on the portfolio choice.
This will help us customize your experience to showcase the most relevant content to your age group
Please select from below
Login
Not registered?
Sign up
Already registered?
Success – Your message will goes here
We'd love to hear from you!
Thank you for visiting our website. Would you like to provide feedback on how we could improve your experience?
This site does not use any third party cookies with one exception — it uses cookies from Google to deliver its services and to analyze traffic.Learn More.