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Markov Functional Market Model nd Standard Market Model

Abstract:

The introduction of so called Market Models (BGM) in 1990s has developed the world of interest rate modelling into a fresh period. The obvious advantages of the market model have generated a vast amount of research on the market model and recently a new model, called Markov functional market model, has been developed and is becoming increasingly popular. To be clearer between them, the former is called standard market model in this paper. Both standard market models and Markov functional mar...

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Publisher:
University of Oxford;Mathematics
Publication date:
2008-06-01
UUID:
uuid:09eb62a6-4a35-4db3-bca3-d5c5b69e5226
Local pid:
oai:eprints.maths.ox.ac.uk:704
Deposit date:
2011-05-19

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