We show that if the increment distribution of a renewal process has some convolution non-singular with respect to Lebesgue measure, then the skeletons of the forward recurrence time process are ...

This is a preview. Log in through your library . Abstract In an irreducible Markov renewal process either all states are periodic or none are. In the former case they all have the same period.

Semi-Markov processes extend traditional Markov models by explicitly accounting for the time spent in each state before transitioning. This added temporal dimension is particularly valuable in credit ...