相关论文: Life after (Soft) Default
We explore the interplay between sovereign debt default/renegotiation and environmental factors (e.g., pollution from land use, natural resource exploitation). Pollution contributes to the likelihood of natural disasters and influences…
Technical debt is a metaphor used to convey the idea that doing things in a "quick and dirty" way when designing and constructing a software leads to a situation where one incurs more and more deferred future expenses. Similarly to…
The existence of asymmetric information has always been a major concern for financial institutions. Financial intermediaries such as commercial banks need to study the quality of potential borrowers in order to make their decision on…
This essay suggests that a proper assessment of the presently unfolding financial crisis, and its cure, requires going back at least to the late 1990s, accounting for the cumulative effect of the ITC, real-estate and financial derivative…
Cloud computing is the backbone of the digital society. Digital banking, media, communication, gaming, and many others depend on cloud services. Unfortunately, cloud services may fail, leading to damaged services, unhappy users, and perhaps…
In a dynamic economy, we characterize the fiscal policy of the government when it levies distortionary taxes and issues defaultable bonds to finance its stochastic expenditure. Default may occur in equilibrium as it prevents the government…
We introduce a dynamic and stochastic interbank model with an endogenous notion of distress contagion, arising from rational worries about future defaults and ensuing losses. This entails a mark-to-market valuation adjustment for interbank…
Software is a field of rapid changes: the best technology today becomes obsolete in the near future. If we review the graduate attributes of any of the software engineering programs across the world, life-long learning is one of them. The…
The European Credit Research Institute Research Report 2013 identifies Households debt "rapid increase and abrupt retrenchment" among the causes of macroeconomic instability in the European Union after 2008. In our research: i) we accessed…
What causes house prices to rise and fall? Economists identify household access to credit as a crucial factor. "Loan-to-Value" and "Debt-to-GDP" ratios are the standard measures for credit access. However, these measures fail to explain the…
Architectural debt is a form of technical debt that derives from the gap between the architectural design of the system as it "should be" compared to "as it is". We measured architecture debt in two ways: 1) in terms of system-wide coupling…
Predicting changes in consumer attention for cultural products, such as books, movies, and songs, is notoriously difficult. Past research suggests intrinsic limits for predicting consumer attention towards individual products. However,…
Technical Debt management decisions always imply a trade-off among outcomes at different points in time. In such intertemporal choices, distant outcomes are often valued lower than close ones, a phenomenon known as temporal discounting.…
Background: Technical debt (TD) has been widely discussed in software engineering research, and there is an emerging literature linking it to developer characteristics. However, developer personality has not yet been studied in this…
The use of mobile payment services is an essential contributor to financial inclusion in emerging markets. Unfortunately, the service has become a platform for fraud. Mobile payment users need to be digitally resilient to continue using the…
We consider a dynamic model of interconnected banks. New banks can emerge, and existing banks can default, creating a birth-and-death setup. Microscopically, banks evolve as independent geometric Brownian motions. Systemic effects are…
Uncertainty quantification is a set of techniques that measure confidence in language models. They can be used, for example, to detect hallucinations or alert users to review uncertain predictions. To be useful, these confidence scores must…
When it comes to studying the impacts of decision making, the research has been largely focused on examining the fairness of the decisions, the long-term effects of the decision pipelines, and utility-based perspectives considering both the…
Decentralized Finance (DeFi) offers a whole new investment experience and has quickly emerged as an enticing alternative to Centralized Finance (CeFi). Rapidly growing market size and active users, however, have also made DeFi a lucrative…
This study examines how the fate of a perpetrator in a public mass shooting influences the fate of subsequent perpetrators. Using data from 1966 to 2024, we classify incidents according to whether the perpetrator died at the scene or…