We model the yield curve in any given country as an object lying in an infinite-dimensional Hilbert space, the evolution of which is driven by what is known as a cylindrical Brownian motion. We assume that volatilities and correlations do not depend on rates (which hence are Gaussian). We prove...

In this paper, we prove that the random measure of the one-dimensional jump-type Fleming–Viot process is absolutely continuous with respect to the Lebesgue measure in R, provided the mutation operator satisfies certain regularity conditions. This result is an important step towards the...