It removes some unreasonable hypothesizes of structural model and reduced form model and considers that companies have default trend at all times which depends on default rate, not only on the maturity.
它摒弃了在此之前的结构模型和简约模型的一些不完全合理的假设条件,认为公司并非只有在债券到期日才会发生违约,而是认为公司在任何时候都存在违约的倾向,这个倾向取决于违约概率的大小。
参考来源 - 企业债券违约风险研究 （研究生论文）·2,447,543篇论文数据，部分数据来源于NoteExpress
Based on analyzing the main characters of the revolver loan and reduced form models, the modeling idea about pricing the revolver loan is presented by applying reduced form model.
在分析循环贷款和简化模型主要特征的基础上，提出了应用简化模型解决循环贷款定价问题的建模思想。
The credit default swap pricing model is the core of the credit default swap research, and particularly the pricing model based on a reduced form model is the mainstream in current studies.
构建有效的信用违约互换定价模型是信用违约互换研究的核心，而基于强度模型的信用违约互换定价模型研究是目前研究方向的主流。
After that, the paper introduces two kinds of credit risk pricing models which adopt stochastic interest rate and credit risk: structural model and reduced-form model.
在此基础上，探讨了将随机利率与信用风险相结合的信用风险定价模型——结构模型和简约模型。
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