Verfügbarkeit: Bond portfolio optimization

Bond portfolio optimization:

Gespeichert in:

Bibliographische Detailangaben
1. Verfasser:	Puhle, Michael (VerfasserIn)
Format:	Abschlussarbeit Buch
Sprache:	English
Veröffentlicht:	Berlin [u.a.] Springer 2008
Schriftenreihe:	Lecture notes in economics and mathematical systems 605
Schlagworte:	Mathematisches Modell Bonds Mathematical optimization Portfolio management > Mathematical models Festverzinsliches Wertpapier Portfolio Selection Staatsanleihe Hochschulschrift
Online-Zugang:	Klappentext Inhaltsverzeichnis
Beschreibung:	XIV, 136 S. graph. Darst.
ISBN:	9783540765929 3540765921

Internformat

MARC


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Datensatz im Suchindex

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adam_text	Michael Puhle Bond Portfolio Optimization The book analyzes how modern portfolio theory and dynamic term structure models can be applied to government bond portfolio optimization problems. The author studies the necessary adjustments, examines the models with regard to the plausibility of their results and compares the outcomes to portfolio selection techniques used by practitioners. Both single-period and continuous-time bond portfolio optimization problems are considered. CONTENTS ACKNOWLEDGEMENTS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . V ABBREVIATIONS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . XI COMMONLY USED SYMBOLS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . XIII 1 INTRODUCTION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 2 BOND MARKET TERMINOLOGY . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 2.1 CHARACTERISTICS OF BONDS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 2.2 INTEREST RATES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 2.3 TERM STRUCTURE OF INTEREST RATES . . . . . . . . . . . . . . . . . . . . . . . . . . 8 2.4 ESTIMATING THE TERM STRUCTURE OF INTEREST RATES . . . . . . . . . . . . . 9 2.5 CLASSICAL THEORIES OF THE TERM STRUCTURE OF INTEREST RATES . . . . 10 2.6 ARBITRAGE-FREE TERM STRUCTURE THEORIES . . . . . . . . . . . . . . . . . . . . 11 2.7 EMPIRICAL PROPERTIES OF THE TERM STRUCTURE OF INTEREST RATES . . 11 3 TERM STRUCTURE MODELING IN CONTINUOUS TIME . . . . . . . . . . . . . 13 3.1 INTRODUCTION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 3.2 INTEREST RATE MODELING APPROACHES . . . . . . . . . . . . . . . . . . . . . . . . 14 3.3 HEATH/JARROW/MORTON (1992) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 3.3.1 INTRODUCTION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 3.3.2 DYNAMICS OF TRADED SECURITIES . . . . . . . . . . . . . . . . . . . . . . 18 3.3.3 ARBITRAGE-FREE PRICING . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 3.3.4 EXCURSUS: THE HJM DRIFT CONDITION . . . . . . . . . . . . . . . . . 20 3.3.5 THE SHORT RATE OF INTEREST . . . . . . . . . . . . . . . . . . . . . . . . . . 21 3.3.6 SPECIAL CASES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22 3.4 VASICEK (1977) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23 3.4.1 INTRODUCTION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23 3.4.2 DERIVATION OF ZERO-COUPON BOND PRICES . . . . . . . . . . . . . . 23 3.4.3 PROPERTIES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26 VIII CONTENTS 3.5 HULL/WHITE (1994) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30 3.5.1 INTRODUCTION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30 3.5.2 DERIVATION OF ZERO-COUPON BOND PRICES . . . . . . . . . . . . . . 31 3.5.3 PROPERTIES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35 3.6 SUMMARY AND CONCLUSION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39 4 STATIC BOND PORTFOLIO OPTIMIZATION . . . . . . . . . . . . . . . . . . . . . . . . 41 4.1 INTRODUCTION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41 4.2 STATIC BOND PORTFOLIO SELECTION IN THEORY . . . . . . . . . . . . . . . . . . . 41 4.2.1 A SHORT REVIEW OF MODERN PORTFOLIO THEORY . . . . . . . . . . 41 4.2.2 APPLICATION TO BOND PORTFOLIOS . . . . . . . . . . . . . . . . . . . . . . 43 4.2.3 OBTAINING THE PARAMETERS . . . . . . . . . . . . . . . . . . . . . . . . . . 48 4.2.4 ONE-FACTOR VASICEK (1977) MODEL . . . . . . . . . . . . . . . . . . . . 51 4.2.5 TWO-FACTOR HULL/WHITE (1994) MODEL . . . . . . . . . . . . . . . . 60 4.3 STATIC BOND PORTFOLIO SELECTION IN PRACTICE . . . . . . . . . . . . . . . . . . 66 4.3.1 INTRODUCTION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 66 4.3.2 ACTIVE BOND PORTFOLIO SELECTION STRATEGIES . . . . . . . . . . . . 67 4.3.3 PASSIVE BOND PORTFOLIO SELECTION STRATEGIES . . . . . . . . . . . 77 4.3.4 SUMMARY AND CONCLUSION . . . . . . . . . . . . . . . . . . . . . . . . . . 82 5 DYNAMIC BOND PORTFOLIO OPTIMIZATION IN CONTINUOUS TIME 85 5.1 INTRODUCTION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 85 5.2 BOND PORTFOLIO SELECTION PROBLEM IN A HJM FRAMEWORK . . . . . . 87 5.2.1 DYNAMICS OF PRICES AND WEALTH . . . . . . . . . . . . . . . . . . . . . 87 5.2.2 THE HAMILTON/JACOBI/BELLMAN EQUATION . . . . . . . . . . . . . 89 5.2.3 DERIVATION OF OPTIMUM PORTFOLIO WEIGHTS . . . . . . . . . . . . . 91 5.2.4 THE VALUE FUNCTION FOR CRRA UTILITY FUNCTIONS . . . . . . 94 5.3 SPECIAL CASES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 96 5.3.1 ONE-FACTOR VASICEK (1977) MODEL . . . . . . . . . . . . . . . . . . . . 96 5.3.2 TWO-FACTOR HULL/WHITE (1994) MODEL . . . . . . . . . . . . . . . . 100 5.4 INTERNATIONAL BOND INVESTING . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 105 5.4.1 INTRODUCTION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 105 5.4.2 MODEL SETUP . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 106 5.4.3 DERIVATION OF THE OPTIMUM PORTFOLIO WEIGHTS . . . . . . . . . 109 5.4.4 INTERPRETATION OF THE OPTIMUM PORTFOLIO WEIGHTS . . . . . . 111 5.4.5 NUMERICAL EXAMPLE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 112 5.5 SUMMARY AND CONCLUSION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 113 6 SUMMARY AND CONCLUSION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 115 A HEATH/JARROW/MORTON (1992) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 119 A.1 DYNAMICS OF ZERO-COUPON BONDS . . . . . . . . . . . . . . . . . . . . . . . . . . 119 A.2 ARBITRAGE-FREE PRICING . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 120 A.3 HJM DRIFT CONDITION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 121 A.4 SPECIAL CASE: HULL/WHITE (1994) . . . . . . . . . . . . . . . . . . . . . . . . . . 122 CONTENTS IX B DYNAMIC BOND PORTFOLIO OPTIMIZATION . . . . . . . . . . . . . . . . . . . . . 123 C DYNAMIC BOND PORTFOLIO OPTIMIZATION . . . . . . . . . . . . . . . . . . . . . 125 C.1 VASICEK (1977) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 125 C.2 HULL/WHITE (1994) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 125 C.3 INTERNATIONAL BOND PORTFOLIO SELECTION . . . . . . . . . . . . . . . . . . . . . . 126 REFERENCES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 127 LIST OF TABLES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 135 LIST OF FIGURES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 137
adam_txt	Michael Puhle Bond Portfolio Optimization The book analyzes how modern portfolio theory and dynamic term structure models can be applied to government bond portfolio optimization problems. The author studies the necessary adjustments, examines the models with regard to the plausibility of their results and compares the outcomes to portfolio selection techniques used by practitioners. Both single-period and continuous-time bond portfolio optimization problems are considered. CONTENTS ACKNOWLEDGEMENTS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . V ABBREVIATIONS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . XI COMMONLY USED SYMBOLS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . XIII 1 INTRODUCTION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 2 BOND MARKET TERMINOLOGY . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 2.1 CHARACTERISTICS OF BONDS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 2.2 INTEREST RATES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 2.3 TERM STRUCTURE OF INTEREST RATES . . . . . . . . . . . . . . . . . . . . . . . . . . 8 2.4 ESTIMATING THE TERM STRUCTURE OF INTEREST RATES . . . . . . . . . . . . . 9 2.5 CLASSICAL THEORIES OF THE TERM STRUCTURE OF INTEREST RATES . . . . 10 2.6 ARBITRAGE-FREE TERM STRUCTURE THEORIES . . . . . . . . . . . . . . . . . . . . 11 2.7 EMPIRICAL PROPERTIES OF THE TERM STRUCTURE OF INTEREST RATES . . 11 3 TERM STRUCTURE MODELING IN CONTINUOUS TIME . . . . . . . . . . . . . 13 3.1 INTRODUCTION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 3.2 INTEREST RATE MODELING APPROACHES . . . . . . . . . . . . . . . . . . . . . . . . 14 3.3 HEATH/JARROW/MORTON (1992) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 3.3.1 INTRODUCTION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 3.3.2 DYNAMICS OF TRADED SECURITIES . . . . . . . . . . . . . . . . . . . . . . 18 3.3.3 ARBITRAGE-FREE PRICING . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 3.3.4 EXCURSUS: THE HJM DRIFT CONDITION . . . . . . . . . . . . . . . . . 20 3.3.5 THE SHORT RATE OF INTEREST . . . . . . . . . . . . . . . . . . . . . . . . . . 21 3.3.6 SPECIAL CASES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22 3.4 VASICEK (1977) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23 3.4.1 INTRODUCTION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23 3.4.2 DERIVATION OF ZERO-COUPON BOND PRICES . . . . . . . . . . . . . . 23 3.4.3 PROPERTIES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26 VIII CONTENTS 3.5 HULL/WHITE (1994) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30 3.5.1 INTRODUCTION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30 3.5.2 DERIVATION OF ZERO-COUPON BOND PRICES . . . . . . . . . . . . . . 31 3.5.3 PROPERTIES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35 3.6 SUMMARY AND CONCLUSION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39 4 STATIC BOND PORTFOLIO OPTIMIZATION . . . . . . . . . . . . . . . . . . . . . . . . 41 4.1 INTRODUCTION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41 4.2 STATIC BOND PORTFOLIO SELECTION IN THEORY . . . . . . . . . . . . . . . . . . . 41 4.2.1 A SHORT REVIEW OF MODERN PORTFOLIO THEORY . . . . . . . . . . 41 4.2.2 APPLICATION TO BOND PORTFOLIOS . . . . . . . . . . . . . . . . . . . . . . 43 4.2.3 OBTAINING THE PARAMETERS . . . . . . . . . . . . . . . . . . . . . . . . . . 48 4.2.4 ONE-FACTOR VASICEK (1977) MODEL . . . . . . . . . . . . . . . . . . . . 51 4.2.5 TWO-FACTOR HULL/WHITE (1994) MODEL . . . . . . . . . . . . . . . . 60 4.3 STATIC BOND PORTFOLIO SELECTION IN PRACTICE . . . . . . . . . . . . . . . . . . 66 4.3.1 INTRODUCTION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 66 4.3.2 ACTIVE BOND PORTFOLIO SELECTION STRATEGIES . . . . . . . . . . . . 67 4.3.3 PASSIVE BOND PORTFOLIO SELECTION STRATEGIES . . . . . . . . . . . 77 4.3.4 SUMMARY AND CONCLUSION . . . . . . . . . . . . . . . . . . . . . . . . . . 82 5 DYNAMIC BOND PORTFOLIO OPTIMIZATION IN CONTINUOUS TIME 85 5.1 INTRODUCTION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 85 5.2 BOND PORTFOLIO SELECTION PROBLEM IN A HJM FRAMEWORK . . . . . . 87 5.2.1 DYNAMICS OF PRICES AND WEALTH . . . . . . . . . . . . . . . . . . . . . 87 5.2.2 THE HAMILTON/JACOBI/BELLMAN EQUATION . . . . . . . . . . . . . 89 5.2.3 DERIVATION OF OPTIMUM PORTFOLIO WEIGHTS . . . . . . . . . . . . . 91 5.2.4 THE VALUE FUNCTION FOR CRRA UTILITY FUNCTIONS . . . . . . 94 5.3 SPECIAL CASES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 96 5.3.1 ONE-FACTOR VASICEK (1977) MODEL . . . . . . . . . . . . . . . . . . . . 96 5.3.2 TWO-FACTOR HULL/WHITE (1994) MODEL . . . . . . . . . . . . . . . . 100 5.4 INTERNATIONAL BOND INVESTING . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 105 5.4.1 INTRODUCTION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 105 5.4.2 MODEL SETUP . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 106 5.4.3 DERIVATION OF THE OPTIMUM PORTFOLIO WEIGHTS . . . . . . . . . 109 5.4.4 INTERPRETATION OF THE OPTIMUM PORTFOLIO WEIGHTS . . . . . . 111 5.4.5 NUMERICAL EXAMPLE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 112 5.5 SUMMARY AND CONCLUSION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 113 6 SUMMARY AND CONCLUSION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 115 A HEATH/JARROW/MORTON (1992) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 119 A.1 DYNAMICS OF ZERO-COUPON BONDS . . . . . . . . . . . . . . . . . . . . . . . . . . 119 A.2 ARBITRAGE-FREE PRICING . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 120 A.3 HJM DRIFT CONDITION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 121 A.4 SPECIAL CASE: HULL/WHITE (1994) . . . . . . . . . . . . . . . . . . . . . . . . . . 122 CONTENTS IX B DYNAMIC BOND PORTFOLIO OPTIMIZATION . . . . . . . . . . . . . . . . . . . . . 123 C DYNAMIC BOND PORTFOLIO OPTIMIZATION . . . . . . . . . . . . . . . . . . . . . 125 C.1 VASICEK (1977) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 125 C.2 HULL/WHITE (1994) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 125 C.3 INTERNATIONAL BOND PORTFOLIO SELECTION . . . . . . . . . . . . . . . . . . . . . . 126 REFERENCES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 127 LIST OF TABLES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 135 LIST OF FIGURES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 137
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dewey-tens	330 - Economics
discipline	Mathematik Wirtschaftswissenschaften
discipline_str_mv	Mathematik Wirtschaftswissenschaften
format	Thesis Book
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genre_facet	Hochschulschrift
id	DE-604.BV023082522
illustrated	Illustrated
index_date	2024-07-02T19:37:50Z
indexdate	2024-07-09T21:10:35Z
institution	BVB
isbn	9783540765929 3540765921
language	English
oai_aleph_id	oai:aleph.bib-bvb.de:BVB01-016285528
oclc_num	180479133
open_access_boolean
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physical	XIV, 136 S. graph. Darst.
publishDate	2008
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series	Lecture notes in economics and mathematical systems
series2	Lecture notes in economics and mathematical systems
spelling	Puhle, Michael Verfasser aut Bond portfolio optimization Michael Puhle Berlin [u.a.] Springer 2008 XIV, 136 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Lecture notes in economics and mathematical systems 605 Zugl.: Passau, Univ., Diss., 2007 Mathematisches Modell Bonds Mathematical optimization Portfolio management Mathematical models Festverzinsliches Wertpapier (DE-588)4121262-9 gnd rswk-swf Portfolio Selection (DE-588)4046834-3 gnd rswk-swf Staatsanleihe (DE-588)4182638-3 gnd rswk-swf (DE-588)4113937-9 Hochschulschrift gnd-content Staatsanleihe (DE-588)4182638-3 s Portfolio Selection (DE-588)4046834-3 s DE-604 Festverzinsliches Wertpapier (DE-588)4121262-9 s 1\p DE-604 Lecture notes in economics and mathematical systems 605 (DE-604)BV000000036 605 Digitalisierung UB Regensburg application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=016285528&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Klappentext SWBplus Fremddatenuebernahme application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=016285528&sequence=000005&line_number=0002&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis 1\p cgwrk 20201028 DE-101 https://d-nb.info/provenance/plan#cgwrk
spellingShingle	Puhle, Michael Bond portfolio optimization Lecture notes in economics and mathematical systems Mathematisches Modell Bonds Mathematical optimization Portfolio management Mathematical models Festverzinsliches Wertpapier (DE-588)4121262-9 gnd Portfolio Selection (DE-588)4046834-3 gnd Staatsanleihe (DE-588)4182638-3 gnd
subject_GND	(DE-588)4121262-9 (DE-588)4046834-3 (DE-588)4182638-3 (DE-588)4113937-9
title	Bond portfolio optimization
title_auth	Bond portfolio optimization
title_exact_search	Bond portfolio optimization
title_exact_search_txtP	Bond portfolio optimization
title_full	Bond portfolio optimization Michael Puhle
title_fullStr	Bond portfolio optimization Michael Puhle
title_full_unstemmed	Bond portfolio optimization Michael Puhle
title_short	Bond portfolio optimization
title_sort	bond portfolio optimization
topic	Mathematisches Modell Bonds Mathematical optimization Portfolio management Mathematical models Festverzinsliches Wertpapier (DE-588)4121262-9 gnd Portfolio Selection (DE-588)4046834-3 gnd Staatsanleihe (DE-588)4182638-3 gnd
topic_facet	Mathematisches Modell Bonds Mathematical optimization Portfolio management Mathematical models Festverzinsliches Wertpapier Portfolio Selection Staatsanleihe Hochschulschrift
url	http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=016285528&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=016285528&sequence=000005&line_number=0002&func_code=DB_RECORDS&service_type=MEDIA
volume_link	(DE-604)BV000000036
work_keys_str_mv	AT puhlemichael bondportfoliooptimization

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