This paper derives a closed-form solution for pricing defaultable bonds by replacing numerical inversion of Laplace transformation proposed by Cathcart and El-Jahel (1998). Note here that in the in-between approach, the signaling variable (i.e., the default event process) and the interest rates...

To measure technical efficiency of commercial banks in Tunisia, Morocco, and Algeria we employed in this paper Data Envelopment Analysis (DEA) based on the intermediation approach of banking services, which entails banks produce financial services using inputs. On regional level our results show...