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  1. The Term Structure of Defaultable Bond Prices: In this paper we present a new methodology for modelling the development of the prices of defaultable zero coupon bonds that is inspired by the Heath-Jarrow-M orton (HJM) [19] approach to risk-free interest rate modelling. Instead of precisely specifying the mechanism that triggers the default we concentrate on modelling the development of the term structure of the defaultable bonds and give conditions under which these dynamics are arbitrage-free . These conditions are a drift restriction ...

  2. Model for empowering rural poor through renewable energy technologies in Bangladesh: Environmental Science & Policy, Vol. 4, No. 6. (December 2001), pp. 333-344.This paper proposes an integrated ecological, economic and social model to assist sustainable rural development in villages in Bangladesh. In the model, renewable energy technologies (RETs) create income-generat ing activities for male landless and marginal farmers and for women from such households, while reducing environmental problems, like deforestation and indoor air pollution from cooking with poor-quality fuels. Because of the high capital costs of RETs, the model proposes an extension of the well-known micro-credit approach developed by such NGOs as the Grameen Bank and BRAC. With the assistance of an External Agency composed of NGO, business, government and university representative s, such groups of villagers would form Village Organizations, comprising cooperatives or other forms of business, borrow money from a bank or large NGO, and purchase a RET based on biogas, solar or wind, depending upon location. By selling energy to wealthier members of the village, the Village Organizations would repay their loans, thus gaining direct ownership and control over the technology and its applications.

    Source: Environmental Science & Policy, Vol. 4, No. 6. (December 2001), pp. 333-344.

  3. Credit risk assessment: a challenge for financial institutions: IMA Journal of Management Mathematics, Vol. 17, No. 1. (January 2006), pp. 25-46.

    Source: IMA Journal of Management Mathematics, Vol. 17, No. 1. (January 2006), pp. 25-46.

  4. Credit Rationing in Markets with Imperfect Information: The American Economic Review, Vol. 71, No. 3. (1981), pp. 393-410.

    Source: The American Economic Review, Vol. 71, No. 3. (1981), pp. 393-410.

  5. Strategic Actions and Credit Spreads: An Empirical Investigation: The Journal of Finance, Vol. 62, No. 6. (December 2007), pp. 2633-2671.

    Source: The Journal of Finance, Vol. 62, No. 6. (December 2007), pp. 2633-2671.

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