What are the general characteristics of the Ho-Lee arbitrage-free interest-rate model?

What will be an ideal response?

The first arbitrage-free interest-rate model was introduced by Ho and Lee in 1986 . In the Ho-Lee model, there is no mean reversion and volatility is independent of the level of the short rate. That is, it is a normal model [i.e., constant elasticity of variance (γ) = 0].

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In confirming accounts receivable, an auditor decided to confirm customers' account balances rather than individual invoices. Which of the following most likely will be included with the client's confirmation letter?

a. An auditor-prepared letter explaining that a nonresponse may cause an interference that the account balance is correct b. A client-prepared letter reminding the customer that a nonresponse will cause a second request to be sent c. An auditor-prepared letter requesting the customer to supply missing and incorrect information directly to the client d. A client-prepared statement of account showing the details of the customer's account balance

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Nurse Nancy is likely to suffer from emotional labor because she becomes sad from dealing with so many sick and injured patients

Indicate whether the statement is true or false.

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