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    Calculating default probabilities given average hazard rates

    Thanks a lot!
  2. H

    Calculating default probabilities given average hazard rates

    Hi @David Harper CFA FRM , this question is w.r.t. Hull Chapter 24: Credit Risk. Can you please help me understand why the calculation for PD between year 2 and 3 (PD2,3) uses the euler's number e whereas the calculation for PD between year 1 and 2 (PD1,2) just uses the difference between...
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