This paper presents a discrete random-field model for forward prices driven by the multivariate normal inverse Gaussian distribution. The model captures the idiosyncratic risk and adequately addresses ...

The idea of this paper is to use the multivariate normal inverse Gaussian (MNIG) distribution as the conditional distribution for a multivariate GARCH model. The MNIG distribution belongs to a very ...

Advantages and Disadvantages of Multivariate Modeling . The advantage of multivariate modeling is that it provides more detailed “what if” scenarios for decision-makers to consider.

Monte Carlo analysis is a kind of multivariate modeling technique. All multivariate models can be thought of as complex illustrations of "what if?" ... Normal Distribution and Standard Deviation .