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Credit derivatives continue to grow in popularity as well as complexity. While single‐name credit default swaps are still the most popular instruments, second‐generation products have become more commonplace. Second generation products are those whose payoffs are contingent on the viability of a number of firms and include instruments such as default baskets and synthetic collateralized debt obligations. The purpose of this paper is to provide a transparent and detailed account of default basket valuation along with thorough and intuitive explanations of comparative statics and the relationship between basket values and default correlation.

The paper delineates the standard approach to valuing default baskets and with its implementation examines results for two copula functions and the input assumptions which are critical to the valuation process.

It is found that the assumptions are critical to the valuation and that the copula chosen also has an impact on pricing and comparative statics.

This paper is very practical in its orientation and takes a pedagogical approach in its explanation of default baskets, the standard model, and key assumptions.

This paper fills a gap in the literature as prior works are more focused on certain enhancements or nuances of modeling basket credit derivatives while this work centers on the standard model and provides a thorough analysis and explanation of the comparative statics as well as a discussion of model limitations. This paper is ideal reading for those that seek an understanding of the modeling and risks associated with multi‐name credit derivatives.

The purpose of this paper is to develop the analytical model of the rotary hook geometric parameters’ interconnections, which allows determining the characteristic modes of interaction of its elements. In this study, the interaction mechanism of the bobbin case, the rotary hook and the support finger was defined, which allows to reduce the unit vibro-impact activity.

As practice shows, the bobbin case sometimes turns against the rotary hook movement. This phenomenon can be used for the free passage of the needle thread. The change in the geometric parameters of the rotary assemble will allow to decrease its vibro-impact activity.

The interrelations of rotary assemble geometric parameters are established, and it is possible to determine the characteristic modes of its elements interaction and to establish a mechanism for controlling them. This allows reducing the vibro-impact activity of joint, improving friction modes and sewing technology. Criteria and values of a gap formation between the right contacting face of bobbin case and support finger protuberance are found.

In the future, it is necessary to conduct research on the behavior of the rotary assemble elements in the frequency operating modes of the sewing machine. It is necessary to show the influence of the resonance modes of operation of the rotary hook drive on the interaction of elements.

The practical use of the results of the work makes it possible to reduce the vibratory impact of the shuttle, and also to create conditions for the smooth operation of the rotary hook and the bobbin case, and ensure the formation of a gap between the contacting face of bobbin case and support finger protuberance for the free passage of the needle thread. The results of the work can be used in the design of a rotary assemble with specified characteristic parameters and modes of elements interaction.

An analytical model of interrelations of geometric parameters of a rotating hook is developed. The characteristic modes of interaction of the rotary assemble elements were studied. The reasons for the vibro-impact activity of the rotary hook are studied. Also, the conditions under which the bobbin case will move against the direction of rotary hook rotation are determined.

Explores the usefulness of capturing information about the shopper basket from computerized scanners, instead of only using data based on article numbers. Shopper baskets, as reflected by the receipt, are more akin to the consumer′s shopping problem and can be used to study shopping behaviour on a per shopper level. In this way individual shopper behaviour can be studied regarding short‐term effects of marketing share of shoppers instead of share of market in monetary units, the combination of items that shoppers put it their baskets, etc. The arguments for basket analysis are backed up by the empirical examples.

This chapter examines exchange rate options for East Asian countries, taking into account their real economic linkages as well as their international financial relations. Particular consideration is given to possible exchange rate cooperation within the region. For this purpose, the literature on the optimal peg is reconsidered and subsequently extended to include a country's international financial asset and liability situation. That is, instead of focusing solely on nominal or real effective exchange rates, the chapter proposes a blend of “real” and “financial” exchange rates for analyzing “optimal” exchange rate policy.

The renminbi (RMB) has evolved in four phases since its mid-2005 unpegging from the US dollar. After a year's transition, the RMB's effective exchange rate traded for two years within narrow bands around an appreciating trend. That is, the RMB behaved as if it were managed to strengthen gradually against trading partners’ currencies. This experiment was interrupted in mid-2008 and the RMB stabilized against a strong dollar amidst the global financial crisis. If Chinese policy were to return to effective currency stability and other East Asian countries were to pursue similar policies, regional currency stability would be enhanced. That would create more favorable conditions for an evolution towards monetary cooperation.

Facts vs Fantasies about the ECU. Advantages frequently ascribed to the ECU include the following:

The purpose of this paper is to demonstrate the complexity of prepaid mobile pricing in Indonesia and suggest tools that allow consumers to make informed decisions.

Defining a basket of services and pricing it for all prepaid mobile products available in Indonesia.

Findings suggested the importance of price transparency to ensure that consumers are well-informed concerning the range of services and prices available.

The paper provides recommendations for the Indonesian Telecommunication Regulation Agency (BRTI), which could use price baskets to create transparency and monitor price developments in the market. Another measure BRTI could undertake is to require any advertisement to include the cost for a price basket defined by BRTI.

Price transparency is likely to lead to price competition and thus lower prices and/or better services. The economic impact of lower prices is well documented.

The authors have developed a unique basket methodology to address the specific situation in Indonesia.

The purpose of this chapter is to examine the impact of the global food crisis of 2007–2008 on Tanzania’s real retail-food prices and on the cost of the typical food basket. The methodological approach is to compare real retail-food prices and food-basket costs in 20 regions of Tanzania with global food prices. The findings are that the global food crisis of 2007–2008 did not significantly cause food prices in Tanzania to increase and that domestic factors were more important drivers of food prices and food-basket costs. The social implication is that the impacts of the global food crisis on food prices and food-basket costs in developing countries may have been overestimated in previous research and the policy responses of the global community may have been inappropriate.

Constructing consumption baskets for the benchmark periods 1745–1754 and 1882–1886, and price indices, we calculate real wages for Japanese unskilled daily laborers in 1741–1913. Matching caloric content and protein contents in our Japanese consumption baskets with those for Europe, we compare Japanese and European urban real wages. Real wages in Kyoto and later Tokyo are about a third London wages but comparable to wages in major Southern and Central European cities for 1700–1900. In Japan, wages are substantially higher in the Meiji period than in the Tokugawa period. These findings have implications for the debate on conditions in Europe and Asia on the eve of the Industrial Revolution.

This paper aims to measure access to food in an inner London borough.

There were six phases, which included designing food baskets, consultation with local residents and a shop survey. Recognising the cultural make‐up of the borough food baskets and menus were developed for four key communities, namely: White British, Black Caribbean, Turkish, and Black African. Three areas were identified for the study and shopping hubs identified with a 500‐metre radius from a central parade of shops.

The findings paint an intricate web of interactions ranging from availability in shops to accessibility and affordability being key issues for some groups. It was found that in the areas studied there was availability of some key healthy items, namely fresh fruit and vegetables, but other items such as: fresh meat and poultry, fish, lower fat dairy foods, high fibre pasta and brown rice were not available. Access was found to be defined, by local people, as more extensive than just physical distance to/from shops – for many shopping was made more difficult by having to use taxis and inconvenient buses. Small shops were important in delivering healthy food options to communities in areas of deprivation and were judged to offer a better range and more appropriate food than the branches of the major supermarket chains.

The importance of monitoring the impact of shops and shop closures on healthy food availability is emphased. From a policy perspective the findings suggest that approaches based on individual agency need to be balanced with upstream public health nutrition approaches in order to influence the options available.

The paper is arguably the first to examine and dissect the issue of food availability and accessibility in the inner London borough in question, especially in the light of its proposed redevelopment for the London Olympics in 2012.