Guglielmo D'Amico is Associate Professor of Applied Mathematics at "G. D'Annunzio" University of Chieti-Pescara in Italy. He has published 69 papers in peer-reviewed international journals.Giuseppe Di Biase is Associate Professor of Applied Mathematics for Economics and Finance in the Department of Pharmacy at the "G. D'Annunzio" University of Chieti-Pescara in Italy.Jacques Janssen is Honorary Professor at the Solvay Brussels School of Economics and Management in Brussels, Belgium. He is founding editor of the Wiley journal Applied Stochastic Models for Business and Industry, and manages book series and open journals for ISTE.Raimondo Manca is Full Professor of Mathematics for Economics, Finance and Insurance at University of Rome "La Sapienza" in Italy. He has written 220 papers and 11 scientific books and is associate editor of Methodology and Computing in Applied Probability.

• Chapter 1. Credit risk problem  Chapter 2. Semi-Markov processes credit risk modelsChapter 3. Recurrence time HSMP and NHSMP: credit risk applicationsChapter 4. Backward and recurrence time HSMP and NHSMP credit risk modelsChapter 5. 5 Initial and Final Backward time HSMP and NHSMP credit risk modelsChapter 6. Mono-unireducible Markov and semi-Markov processesChapter 7. Non-homogeneous reward semi-Markov credit spread modelChapter 8. NHSMP model for the evaluation of credit default swapChapter 9. Bivariate semi-Markov processes and related reward processesChapter 10. Semi-Markov credit risk simulation models

Guglielmo D'Amico is Associate Professor of Applied Mathematics at "G. D'Annunzio" University of Chieti-Pescara in Italy. He has published 69 papers in peer-reviewed international journals.Giuseppe Di Biase is Associate Professor of Applied Mathematics for Economics and Finance in the Department of Pharmacy at the "G. D'Annunzio" University of Chieti-Pescara in Italy.Jacques Janssen is Honorary Professor at the Solvay Brussels School of Economics and Management in Brussels, Belgium. He is founding editor of the Wiley journal Applied Stochastic Models for Business and Industry, and manages book series and open journals for ISTE.Raimondo Manca is Full Professor of Mathematics for Economics, Finance and Insurance at University of Rome "La Sapienza" in Italy. He has written 220 papers and 11 scientific books and is associate editor of Methodology and Computing in Applied Probability.

• Chapter 1. Credit risk problem  Chapter 2. Semi-Markov processes credit risk modelsChapter 3. Recurrence time HSMP and NHSMP: credit risk applicationsChapter 4. Backward and recurrence time HSMP and NHSMP credit risk modelsChapter 5. 5 Initial and Final Backward time HSMP and NHSMP credit risk modelsChapter 6. Mono-unireducible Markov and semi-Markov processesChapter 7. Non-homogeneous reward semi-Markov credit spread modelChapter 8. NHSMP model for the evaluation of credit default swapChapter 9. Bivariate semi-Markov processes and related reward processesChapter 10. Semi-Markov credit risk simulation models

Guglielmo D'Amico is Associate Professor of Applied Mathematics at "G. D'Annunzio" University of Chieti-Pescara in Italy. He has published 69 papers in peer-reviewed international journals.Giuseppe Di Biase is Associate Professor of Applied Mathematics for Economics and Finance in the Department of Pharmacy at the "G. D'Annunzio" University of Chieti-Pescara in Italy.Jacques Janssen is Honorary Professor at the Solvay Brussels School of Economics and Management in Brussels, Belgium. He is founding editor of the Wiley journal Applied Stochastic Models for Business and Industry, and manages book series and open journals for ISTE.Raimondo Manca is Full Professor of Mathematics for Economics, Finance and Insurance at University of Rome "La Sapienza" in Italy. He has written 220 papers and 11 scientific books and is associate editor of Methodology and Computing in Applied Probability.

• Chapter 1. Credit risk problem  Chapter 2. Semi-Markov processes credit risk modelsChapter 3. Recurrence time HSMP and NHSMP: credit risk applicationsChapter 4. Backward and recurrence time HSMP and NHSMP credit risk modelsChapter 5. 5 Initial and Final Backward time HSMP and NHSMP credit risk modelsChapter 6. Mono-unireducible Markov and semi-Markov processesChapter 7. Non-homogeneous reward semi-Markov credit spread modelChapter 8. NHSMP model for the evaluation of credit default swapChapter 9. Bivariate semi-Markov processes and related reward processesChapter 10. Semi-Markov credit risk simulation models