Analysis of delinquent firms using multi-state transitions

This paper analyzes the behavior of firms with defaulted credits in terms of recovery or extinction. By defining classes for the severity of default, survival models for the multiple transitions from each class are estimated. The models are used to simulate the evolution of a firm’s credit conditional on its characteristics. Estimates for the expected recovery or extinction rates are constructed from these simulations. They show that (i) the severity of default strongly influences the probability of extinction; (ii) for less severe default episodes, recovery is faster than extinction, and the opposite is true for more severe defaults; (iii) larger firms tend to display better outcomes; (iv) and the number of employees is the single most important determinant of the time profile of the extinction/recovery process. Estimates of a loss given default measure suggest that the supervision recommendations found in the literature are appropriate.

Numerical minimization of dirichlet laplacian eigenvalues of four-dimensional geometries

We develop the first numerical study in four dimensions of optimal eigenmodes associated with the Dirichlet Laplacian. We describe an extension of the method of fundamental solutions adapted to the four-dimensional context. Based on our numerical simulation and a postprocessing adapted to the identification of relevant symmetries, we provide and discuss the numerical description of the eighth first optimal domains.The work of the first author was partially supported by FCT, Portugal, through the program “Investigador FCT” with reference IF/00177/2013 and the scientific project PTDC/MATCAL/4334/2014. The work of the second author was supported by the ANR, through the projects COMEDIC, PGMO, and OPTIFORMinfo:eu-repo/semantics/publishedVersio

Do labor market policies affect employment composition? Lessons from European countries

We study the effects of different labor market policies on employment composition in a matching model with salaried work and self-employment. We empirically assess some of the model’s predictions using micro data from the European Union Household Panel. Policies such as employment protection legislation and compulsory social security contributions of the self-employed, and their interactions, are relevant to explain the composition of employment in the European labor market. One major policy implication of this result is the need for a convenient policy mix definition.

Analysis of a class of boundary value problems depending on left and right Caputo fractional derivatives

In this work we study boundary value problems associated to a nonlinear fractional ordinary differential equation involving left and right Caputo derivatives. We discuss the regularity of the solutions of such problems and, in particular, give precise necessary conditions so that the solutions are C1([0, 1]). Taking into account our analytical results, we address the numerical solution of those problems by the augmented-RBF method. Several examples illustrate the good performance of the numerical method.P.A. is partially supported by FCT, Portugal, through the program “Investigador FCT” with reference IF/00177/2013 and the scientific projects PEstOE/MAT/UI0208/2013 and PTDC/MAT-CAL/4334/2014. R.F. was supported by the “Fundação para a Ciência e a Tecnologia (FCT)” through the program “Investigador FCT” with reference IF/01345/2014.info:eu-repo/semantics/publishedVersio

Bounds and extremal domains for Robin eigenvalues with negative boundary parameter

We present some new bounds for the first Robin eigenvalue with a negative boundary parameter. These include the constant volume problem, where the bounds are based on the shrinking coordinate method, and a proof that in the fixed perimeter case the disk maximises the first eigenvalue for all values of the parameter. This is in contrast with what happens in the constant area problem, where the disk is the maximiser only for small values of the boundary parameter. We also present sharp upper and lower bounds for the first eigenvalue of the ball and spherical shells. These results are complemented by the numerical optimisation of the first four and two eigenvalues in 2 and 3 dimensions, respectively, and an evaluation of the quality of the upper bounds obtained. We also study the bifurcations from the ball as the boundary parameter becomes large (negative).Comment: 26 pages, 20 figure

On the behavior of clamped plates under large compression

We determine the asymptotic behavior of eigenvalues of clamped plates under large compression by relating this problem to eigenvalues of the Laplacian with Robin boundary conditions. Using the method of fundamental solutions, we then carry out a numerical study of the extremal domains for the first eigenvalue, from which we see that these depend on the value of the compression, and start developing a boundary structure as this parameter is increased. The corresponding number of nodal domains of the first eigenfunction of the extremal domain also increases with the compression.This work was partially supported by the Funda ̧c ̃ao para a Ciˆencia e a Tecnologia(Portugal) through the program “Investigador FCT” with reference IF/00177/2013 and the projectExtremal spectral quantities and related problems(PTDC/MAT-CAL/4334/2014).info:eu-repo/semantics/publishedVersio

Asymptotic behaviour and numerical approximation of optimal eigenvalues of the Robin Laplacian

We consider the problem of minimising the $n^{th}-$eigenvalue of the Robin Laplacian in $\mathbb{R}^{N}$. Although for $n=1,2$ and a positive boundary parameter $\alpha$ it is known that the minimisers do not depend on $\alpha$, we demonstrate numerically that this will not always be the case and illustrate how the optimiser will depend on $\alpha$. We derive a Wolf-Keller type result for this problem and show that optimal eigenvalues grow at most with $n^{1/N}$, which is in sharp contrast with the Weyl asymptotics for a fixed domain. We further show that the gap between consecutive eigenvalues does go to zero as $n$ goes to infinity. Numerical results then support the conjecture that for each $n$ there exists a positive value of $\alpha_{n}$ such that the $n^{\rm th}$ eigenvalue is minimised by $n$ disks for all $0<\alpha<\alpha_{n}$ and, combined with analytic estimates, that this value is expected to grow with $n^{1/N}$

Detection of holes in an elastic body based on eigenvalues and traces of eigenmodes

We consider the numerical solution of an inverse problem of finding the shape and location of holes in an elastic body. The problem is solved by minimizing a functional depending on the eigenvalues and traces of corresponding eigenmodes. We use the adjoint method to calculate the shape derivative of this functional. The optimization is performed by BFGS, using a genetic algorithm as a preprocessor and the Method of Fundamental Solutions as a solver for the direct problem. We address several numerical simulations that illustrate the good performance of the method.info:eu-repo/semantics/publishedVersio