Calibration of CDO tranches with the dynamical GPL model

We consider a dynamical model for the loss distribution of a pool of names. Our model focuses on three points: tractability - the loss distribution should be known analytically; the calibration of market information, currently quoted index collateralised debt obligation (CDO) tranches and tranchelets for several maturities should be possible, and realistic numerical examples should be given; and the pricing of correlation products depending on the loss distribution dynamics should be feasible