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viii

5.2.2  Iterations............................. 87

5.3 Application: Revisiting the impact of the GLB Act.......... 88

5.3.1  Basic setups............................ 88

5.3.2  Results of the tests........................ 88

5.3.3  Conclusions............................ 94

6 Conclusions and Future Work                                  97

6.1  Conclusions................................ 97

6.2  Future work................................ 98

A Plots of Copula Ftinctions                                       99

A.l Frank Copula............................... 99

A.2 Clayton Copula.............................. 99

A.3 Gumbel-Hougaard Copula........................ 99

B R Codes                                                103

B.l Generate и and v as shown in Section 3.4............... 103

B.2 Generate and tɑ as shown in Section 3.4............... 104

B.3 Calculate Sθ0∖i) as shown in Equation 3.13 .............. 104

B.4 Calculate P^mxj) as shown in Equation 3.15............. 106

B.5 Calculate S,θm^(t) as shown in Equation 3.19.............. 108

B.6 Calculate the likelihood function as shown in Equation 3.12 ..... 110

Bibliography

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