Évaluation du prix et de la variance de produits dérivés de taux d'intérêt dans un modèle de Vasiček

Mémoire numérisé par la Division de la gestion de documents et des archives de l'Université de Montréal

$80,000,000 State of Illinois general obligation college savings bonds : series of October 2002 (zero coupon bonds)

"Due: August 1, as shown below."

$101,855,028.75 State of Illinois general obligation college savings bonds : series of October 2000 (zero coupon bonds)

"New issue."

$80,000,000 State of Illinois general obligation college savings bonds : series of October 2000 (zero coupon bonds).

"Due: August 1, as shown below."

Local atomic structure in tetragonal pure ZrO(2) nanopowders

The local atomic structures around the Zr atom of pure (undoped) ZrO(2) nanopowders with different average crystallite sizes, ranging from 7 to 40 nm, have been investigated. The nanopowders were synthesized by different wet-chemical routes, but all exhibit the high-temperature tetragonal phase stabilized at room temperature, as established by synchrotron radiation X-ray diffraction. The extended X-ray absorption fine structure (EXAFS) technique was applied to analyze the local structure around the Zr atoms. Several authors have studied this system using the EXAFS technique without obtaining a good agreement between crystallographic and EXAFS data. In this work, it is shown that the local structure of ZrO(2) nanopowders can be described by a model consisting of two oxygen subshells (4 + 4 atoms) with different Zr-O distances, in agreement with those independently determined by X-ray diffraction. However, the EXAFS study shows that the second oxygen subshell exhibits a Debye-Waller (DW) parameter much higher than that of the first oxygen subshell, a result that cannot be explained by the crystallographic model accepted for the tetragonal phase of zirconia-based materials. However, as proposed by other authors, the difference in the DW parameters between the two oxygen subshells around the Zr atoms can be explained by the existence of oxygen displacements perpendicular to the z direction; these mainly affect the second oxygen subshell because of the directional character of the EXAFS DW parameter, in contradiction to the crystallographic value. It is also established that this model is similar to another model having three oxygen subshells, with a 4 + 2 + 2 distribution of atoms, with only one DW parameter for all oxygen subshells. Both models are in good agreement with the crystal structure determined by X-ray diffraction experiments.

Crystallite size-dependent phases in nanocrystalline ZrO(2)-Sc(2)O(3)

ZrO(2)-10, 12 and 14 mol% Sc(2)O(3) nanopowders were prepared by using a nitrate-lysine gel-combustion synthesis. These materials were studied by synchrotron X-ray powder diffraction (SXPD) and Raman spectroscopy after calcination at different temperatures from 650 to 1200 degrees C, which led to samples with different average crystallite sizes, up to about 100 nm. The results from SXPD and Raman analyses indicate that, depending on Sc(2)O(3) content, the metastable t ''-form of the tetragonal phase or the cubic phase are fully retained at room temperature in nanocrystalline powders, provided an average crystallite sizes lower than similar to 30 nm. By contrast, powders with larger average crystallite sizes exhibit the stable rhombohedral, beta and gamma, phases and do not retain or very partially retain the metastable t '' and cubic ones.

Synchrotron X-ray powder diffraction and extended X-ray absorption fine structure spectroscopy studies on nanocrystalline ZrO(2)-CaO solid solutions

The crystal structure and the local atomic order of a series of nanocrystalline ZrO(2)-CaO solid solutions with varying CaO content were studied by synchrotron radiation X-ray powder diffraction and extended X-ray absorption fine structure (EXAFS) spectroscopy. These samples were synthesized by a pH-controlled nitrate-glycine gel-combustion process. For CaO contents up to 8 mol%, the t' form of the tetragonal phase (c/a > 1) was identified, whereas for 10 and 12 mol% CaO, the t '' form (c/a=1; oxygen anions displaced from their ideal positions in the cubic phase) was detected. Finally, the cubic phase was observed for solid solutions with CaO content of 14 mol% CaO or higher. The t'/t '' and t ''/cubic compositional boundaries were determined to be at 9 (1) and 13 (1) mol% CaO, respectively. The EXAFS study demonstrated that this transition is related to a tetragonal-to-cubic symmetry change of the first oxygen coordination shell around the Zr atoms.

Electrophoretic deposition of ZrO(2)-Y(2)O(3): a bi-component study concerning self-assemblies

There are many industrial advantages of using mechanical multi-oxides mixtures to obtain ceramic parts by electrophoretic deposition (EPD). This is mainly because one could avoid complex chemical synthesis routes to achieve a desirable composition. However, EPD of these suspensions is not an easy task as well since many different surfaces are present, leading to unexpected suspension behavior. The particles surface potentials and interactions can, however, be predicted by an extension of the DLVO theory. Using this theory, one can control the suspension properties and particles distribution. The objective of this work was to apply the colloidal chemistry theories to promote the formation of a heterocoagulation between ZrO(2) and Y(2)O(3) particles in ethanol suspension to achieve a suitable condition for EPD. After identifying a condition where those particles had opposite surface charges and adequate relative sizes, heterocoagulation was observed at operational pH 7.5, generating an organized agglomerate with ZrO(2) particles surrounding Y(2)O(3), with a net zeta potential of -16.6 mV. Since the agglomerates were stable, EPD could be carried out and homogeneous deposits were obtained. The deposited bodies were sintered at 1600 A degrees C for 4 h and partially stabilized ZrO(2) could be obtained without traces of Y(2)O(3) second phases.

Swaps de taxa de câmbio: precificação do coupon

O objetivo deste artigo é demonstrar como se determina o coupon em operações de swaps de taxa de câmbio. A fim de atingir um público mais amplo e de traçar um pano de fundo para que melhor se compreendam essas operações em específico, será apresentada uma introdução à mecânica operacional do mercado de swaps. Discutiremos também quais os interesses das empresas que participam do mercado, os riscos de crédito envolvidos nessas operações e algumas considerações do ponto de vista legal e fiscal.

The problem of estimating the volatility of zero coupon bond interest rate

Financial literature and financial industry use often zero coupon yield curves as input for testing hypotheses, pricing assets or managing risk. They assume this provided data as accurate. We analyse implications of the methodology and of the sample selection criteria used to estimate the zero coupon bond yield term structure on the resulting volatility of spot rates with different maturities. We obtain the volatility term structure using historical volatilities and Egarch volatilities. As input for these volatilities we consider our own spot rates estimation from GovPX bond data and three popular interest rates data sets: from the Federal Reserve Board, from the US Department of the Treasury (H15), and from Bloomberg. We find strong evidence that the resulting zero coupon bond yield volatility estimates as well as the correlation coefficients among spot and forward rates depend significantly on the data set. We observe relevant differences in economic terms when volatilities are used to price derivatives.

Alice's anima or the obligation of a reading transliteracy

This paper suggests an analysis of "Inanimate Alice" by Kate Pullinger, Chris Joseph and Ian Harper as an example of a transmedia narrative that triggers a new reading experience whilst proposing a literary alterity between reading and performance. Narrative experiences that elect the visual plasticity, interchanging games and tactility as drivers of the creative process are not new. Yet, narrative experiences, which have been created in the gap between reality and fiction, have found on the digital realm the perfect environment to multiple hybrid experiences. Bearing in mind Walter Benjamin’s concept of Erlebnis and Erfahrung, a critical analysis of this digital fiction tries to illustrate how literary art finds its space and time in a metamorphosed continuum only activated by the “patient reader”. All the multimedia hybrids, which this digital literary work may have, challenge readers to interpret different signals and poetic structures that most of readers might not be accustomed to; however even among a cognitive dissonance, meaning is found and reading happens only if time, space and attention are available. All possible transmedia literacies can only respond to this experience of online reading, if they are able to focus and draw attention not to a simple new behaviour or a single new practice, but to a demanding state of affairs that assemble different objective and subjective value forms.

L'obligation d'usage en droit des marques

Introduction Les marques occupent une place centrale dans le monde économique moderne. Indispensables pour distinguer les produits ou services d'une entreprise sur le marché et guider le consommateur vers l'article de son choix, elles constituent un instrument de marketing et de publicité essentiel. Les investissements souvent considérables liés à la création et au lancement d'une marque méritent une protection adéquate. C'est pourquoi la loi fédérale sur la protection des marques et des indications de provenance (LPM) accorde au titulaire d'un enregistrement de marque le droit exclusif de faire usage de cette marque et d'en disposer. Cette protection est ce¬pendant assortie d'une condition: passé un délai de grâce de cinq ans, la marque doit être utilisée en relation avec les produits ou les services enre-gistrés. C'est le principe de l'obligation d'usage. Ce principe, qui soulève de nombreux problèmes juridiques, n'a pas encore fait l'objet d'une étude systématique approfondie depuis l'entrée en vigueur de la LPM. La présente monographie vise à combler cette lacune. L'étude de l'obligation d'usage implique de se pencher sur deux problèmes principaux: d'une part, l'usage en tant que condition légale au maintien du droit (art. 11 LPM) et, d'autre part, les conséquences du défaut d'usage (art. 12 LPM). Nous avons donc divisé notre recherche en deux parties. La première partie comporte quatre titres. Le titre premier est consacré à la présentation générale de l'obligation d'usage; le deuxième à la notion d'usage de la marque. Le troisième concerne l'usage sous une forme divergeant de la marque enregistrée et la question des produits ou services pour lesquels la marque doit être utilisée. Enfin, le titre quatrième traite des problèmes relatifs au lieu et à l'auteur de l'usage. La seconde partie est divisée en trois titres. Le titre cinquième a pour objet les mécanismes de la déchéance et de la restitution du droit. Le sixième porte sur les justes motifs pour le non-usage et le septième sur les voies de droit permettant d'invoquer la déchéance. Le principe de l'obligation d'usage existait déjà avant l'entrée en vigueur de la loi sur la protection des marques, raison pour laquelle nous commencerons généralement par exposer les principes développés sous l'ancien droit avant d'analyser chaque question. Afin de tenir compte des développements intervenus sur le plan européen, notamment suite à l'adoption de la directive d'harmonisation de 1988, nous examinerons également les solutions retenues en droit français, en droit allemand et en droit communautaire.