Description: Feature article discussing numerical short cuts, rules of thumb, estimators, modeling tips, etc. The featured problem is fitting the intermediate points for a real-world stochastic model of interest rates.

Description: In this article about interest rate models, the author develops an empirical description of the term “interest rate regime,” and looks at the relationship between changes in yield curves and moving to a new interest rate regime.

Description: What is going on with the exchange rate, anyway? In 2002, $1 U.S. bought $C 1.60, and now in May 2005 you only get $C 1.25—that’s 20 percent less! Where’s it going next? One way to answer that question is with a time series model.