Public-private partnership (PPP) contracts are frequently used in the provision of public services. One of the key points to consider in these contracts (and from which much of its convenience derives) is the allocation of risks to the party that has the best capacity to avoid them or, if they...

Public-private partnership (PPP) contracts are frequently used in the provision of public services. One of the key points to consider in these contracts (and from which much of its convenience derives) is the allocation of risks to the party that has the best capacity to avoid them or, if they...

The group of duration models has grown rapidly during last years, offering manynew approaches for interest rate risk management in delta or delta-gamma frameworks.This paper attempts to make up for the lack of empirical evidence concerning theperformance of some of the most realistic duration...

Although traditional immunization offers protection against parallel movements of theterm structure of interest rates (TSIR) exclusively, numerous studies have shown that thisstrategy offers near perfect immunization at an empirical level. This work reveals some of thefactors that justify this...