Deskription und Bewertung strukturierter Produkte unter besonderer Berücksichtigung verschiedener Marktszenarien

Due to a fast market development in volume and innovation on the structured products (certificates) side, critics are finding fault regarding a lack in transparency and comparability. However, certificates can provide characteristics for every market scenario as its explicit strength. The aim of the following working paper is to provide transparency and an analysis in the most common certificates. The analysis consists of a description, valuation and scenario analysis which then leads to a substantial overview and should provide knowledge which certificate can be used in specific market scenarios. --Financial engineering,strukturierte Produkte,Zertifikate,evaluation by duplication,Discountzertifikate,Aktienanleihe,Doppel-Aktienanleihe,Cheapest-to-deliver-Zertifikat,Bonus-Zertifikat,Sprint-Zertifikat,Outperformance-Zertifikat,Reverse Sprint-Zertifikat,Reverse Outperformance-Zertifikat

The gap between Gromov-vague and Gromov-Hausdorff-vague topology

In Athreya, L\"ohr, Winter (2016), an invariance principle is stated for a class of strong Markov processes on tree-like metric measure spaces. It is shown that if the underlying spaces converge Gromov vaguely, then the processes converge in the sense of finite dimensional distributions. Further, if the underlying spaces converge Gromov-Hausdorff vaguely, then the processes converge weakly in path space. In this paper we systematically introduce and study the Gromov-vague and the Gromov-Hausdorff-vague topology on the space of equivalence classes of metric boundedly finite measure spaces. The latter topology is closely related to the Gromov-Hausdorff-Prohorov metric which is defined on different equivalence classes of metric measure spaces. We explain the necessity of these two topologies via several examples, and close the gap between them. That is, we show that convergence in Gromov-vague topology implies convergence in Gromov-Hausdorff-vague topology if and only if the so-called lower mass-bound property is satisfied. Furthermore, we prove and disprove Polishness of several spaces of metric measure spaces in the topologies mentioned above (summarized in Figure~1). As an application, we consider the Galton-Watson tree with critical offspring distribution of finite variance conditioned to not get extinct, and construct the so-called Kallenberg-Kesten tree as the weak limit in Gromov-Hausdorff-vague topology when the edge length are scaled down to go to zero

Adaptation and delimitation: some thoughts about the Kanurization of the Gamergu

The area around the Lake Chad is characterized as an example for a region where ethnic changes abundantly took place and still do. For example some Kanuri districts, or the leaders of those districts, are (unofficially) named after other ethnic names (e.g. Margi, Shuwa) or Kanuri clan names are identical with ethnic names of other groups, eg. Tera, Bade. Both people speak a Chadic language and live in the south and west of the Kanuri respectively. These are indications that the Kanuri formerly absorbed and integrated these peoples. These processes are not only a phenomenon of the past. In the case of the neighbouring Gamergu people an ongoing process of ethnic change towards a Kanuri identity is observed until present. The research projects1 have revealed that the concept of "ethnic units" is far from being static which the term may suggest. This especially applies to the German Stamm, which implies a static concept of ethnicity. However, in Borno the dynamics of ethnic and linguistic change are prevailing. Therefore Ronald Cohen rejected the term "ethnic unit", or even "tribe" for the Kanuri and preferred "nation" instead. Umara Bulakarima argued along the same line but used "ethnic group" for Kanuri subunits, e.g. Manga, Mowar, Suwurti. There is no doubt that the Kanuri played a dominant part in the history of the Lake Chad area during the past centuries. Therefore the "Kanurization" process may not surprise. However, in the following it will be revealed that the processes of contact and resulting adaptations and delimitations are not necessarily unidirectional from Kanuri to other groups. At least in some cases they may go into the opposite direction, e.g. from Gamergu to Kanuri

Kanuri-Lehnwörter im geographischen Vokabular des Gamergu

Lehnwörter dienen als wichtiges linguistisches Indiz für Sprachkontakt, d.h. der Koexistenz mehrerer Sprachen innerhalb einer bestimmten Region, deren Sprecher diese Sprachen alternativ verwenden. Sprachkontakte können im politischen, historischen, geographischen und/oder kulturgeschichtlichen Kontext betrachtet werden. Der folgende Artikel beschäftigt sich mit linguistischen Einflüssen des Kanuri, einer nilosaharanischen Sprache, auf das Gamergu, das zur afroasiatischen Sprachfamilie gehört. Beide Sprachen werden in Nordost-nigeria gesprochen. Anhand von Beispielen aus dem Bereich der Lexik soll ein Zusammenhang von Geschichte und Linguistik deutlich werden. Lehnwörter im Gamergu finden sich in allen Bereichen des Kulturwortschatzes. Die hier aufgeführten Beispiele können dem semantischen Feld "Naturraum" im weiteren Sinne zugeordnet werden, wie z.B. Pflanzen, Bäume, Tiere, Himmelsrichtungen, Mineralien und Körperteile