Value-at-risk measures the worst loss to be expected of a portfolio over a given time horizon at a given confidence level. Calculation of VaR frequently involves estimating the volatility of return processes and quantiles of standardized returns. In this paper, several semiparametric techniques are introduced to estimate the volatilities. In addition, both parametric and nonparametric techniques are proposed to estimate the quantiles of standardized return processes. The newly proposed techniques also have the flexibility to adapt automatically to the changes in the dynamics of market prices over time. The combination of newly proposed techniques for estimating volatility and standardized quantiles yields several new techniques for evaluating multiple period VaR. The performance of the newly proposed VaR estimators is evaluated and compared with some of existing methods. Our simulation results and empirical

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We analyze bound states of Robin Laplacian in infinite planar domains with a smooth boundary, in particular, their relations to the geometry of the latter. The domains considered have locally straight boundary being, for instance, locally deformed halfplanes or wedges, or infinite strips, alternatively they are the exterior of a bounded obstacle. In the situation when the Robin condition is strongly attractive, we derive a two-term asymptotic formula in which the next-to-leading term is determined by the extremum of the boundary curvature. We also discuss the non-asymptotic case of attractive boundary interaction and show that the discrete spectrum is nonempty if the domain is a local deformation of a halfplane or a wedge of angle less than , and it is void if the domain is concave.