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1 - Whitman People
1 - Whitman People

... output. This in turn increases the amount of money demand. This in turn may cause interest rates to fall by less than they otherwise would had there been no feedback effect from the increased demand for money. Difficulty: E ...
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... indeed, this is not a variable that captures the effect of real economic costs, but only the redistributive transfers. For this reason, a most recent literature has focused attention on the loss of output, throughout it is possible to estimate the real effect of crises on economy. A first estimate ...
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II. Private Debt - University of Sussex

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Learning by failing. The origins of the Norwegian oil fund Abstract

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國 立 高 雄 第 一 科 技 大 學 管 理 學 院 暨 財 金 學 院 1 0 4 學 年 度
國 立 高 雄 第 一 科 技 大 學 管 理 學 院 暨 財 金 學 院 1 0 4 學 年 度

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Uncertainty, Economic Reforms and Private Investment in the Middle

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Student_Chapter 20 Lecture Notes
Student_Chapter 20 Lecture Notes

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Measures of Retirement Benefit Adequacy: Which, Why, for Whom

... risks, and special circumstances into account. They need to produce a plan that will work for one person or family. The best approach for individuals is a detailed income needs forecast and conservative drawdown period plan that can be adjusted with changing circumstances. Planners also need to be a ...
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... the SWAP at the beginning of the transition. For instance, Congo started its transition with a SWAP of about 51 percent. The transition is still in its infancy in cases where the rectangle is missing (Angola, Mali, Niger). (b) The top of the rectangle shows the country’s SWAP in 2012. For instance, ...
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Chapter 15 - Vanderbilt University

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Chapter 26. Fiscal Policy: A Summing Up

... The theory underlying the concept of cyclically adjusted deficit is simple; the practice of it has proven tricky. First, establish how much lower the deficit would be if output were, say, 1% higher. Second, assess how far output is from its natural level:  A reliable rule of thumb is that a 1% decr ...
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Loanable Funds

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Chapter 24
Chapter 24

... We need to distinguish between market timing and security selection abilities. The intercept of the scatter diagram is a measure of stock selection ability. If the manager tends to have a positive excess return even when the market’s performance is merely “neutral” (i.e., has zero excess return), th ...
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Pensions crisis

The pensions crisis is a predicted difficulty in paying for corporate, state, and federal pensions in the United States and Europe, due to a difference between pension obligations and the resources set aside to fund them. Shifting demographics are causing a lower ratio of workers per retiree; contributing factors include retirees living longer (increasing the relative number of retirees), and lower birth rates (decreasing the relative number of workers, especially relative to the Post-WW2 Baby Boom). There is significant debate regarding the magnitude and importance of the problem, as well as the solutions.For example, as of 2008, the estimates for the underfunding of U.S. states' pension programs range from $1 trillion using the discount rate of 8% to $3.23 trillion using U.S. Treasury bond yields as the discount rate. The present value of unfunded obligations under Social Security as of August 2010 was approximately $5.4 trillion. In other words, this amount would have to be set aside today such that the principal and interest would cover the program's shortfall between tax revenues and payouts over the next 75 years.Some economists question the concept of funding, and, therefore underfunding. Storing funds by governments, in the form of fiat currencies, is the functional equivalent of storing a collection of their own IOUs. They will be equally inflationary to newly written ones when they do come to be used.Reform ideas are in three primary categories: a) Addressing the worker-retiree ratio, via raising the retirement age, employment policy and immigration policy; b) Reducing obligations via shifting from defined benefit to defined contribution pension types and reducing future payment amounts (by, for example, adjusting the formula that determines the level of benefits); and c) Increasing resources to fund pensions via increasing contribution rates and raising taxes.
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