Data Mining, Arbitraged Away, or Here to Stay?
... Given smart beta’s popularity among investors and asset managers, people ask me about this strategy (also known as alternative beta, exotic beta, risk factor, style premia, risk premia investing) all the time. The number one question I receive is: what should an investor expect regarding returns gen ...
... Given smart beta’s popularity among investors and asset managers, people ask me about this strategy (also known as alternative beta, exotic beta, risk factor, style premia, risk premia investing) all the time. The number one question I receive is: what should an investor expect regarding returns gen ...
High_Pay_Centre_6.3.2014
... • This should be no surprise; it is due to the rise in the cost of capital as perceived by managers. • So companies prefer to employ more labour rather than more capital. (Technically this changes the “coefficient of substitution”). • “Diminishing returns to scale” lowers productivity. ...
... • This should be no surprise; it is due to the rise in the cost of capital as perceived by managers. • So companies prefer to employ more labour rather than more capital. (Technically this changes the “coefficient of substitution”). • “Diminishing returns to scale” lowers productivity. ...
the report - Brookings Institution
... baseline (CBO 2017) and making a series of adjustments. These adjustments are admittedly judgmental. In our view, they provide a better picture of what constitutes current policy than do the CBO current-law projections, which in many instances reflect budget conventions or assumptions that CBO is re ...
... baseline (CBO 2017) and making a series of adjustments. These adjustments are admittedly judgmental. In our view, they provide a better picture of what constitutes current policy than do the CBO current-law projections, which in many instances reflect budget conventions or assumptions that CBO is re ...
Free Slides from Ed Dolan’s Econ Blog http://dolanecon
... of real GDP growth is that for any given level of inflation and unemployment, people would feel better if the economy is growing rather than stagnant As this chart shows, the trend in GDP growth has been down over time, offsetting some of the feel-good effect of lower inflation and unemployment co ...
... of real GDP growth is that for any given level of inflation and unemployment, people would feel better if the economy is growing rather than stagnant As this chart shows, the trend in GDP growth has been down over time, offsetting some of the feel-good effect of lower inflation and unemployment co ...
The Workings of the “Open” Multiple Employer 401(k) Plan
... A “Multiple Employer” 401(k) plan (“MEP”), where a single 401(k) plan is jointly sponsored by a number of unrelated employers, can often provide a cost effective way for some employers to manage their risks related to sponsoring a 401(k) plan, while enjoying advantageous pricing on investments and a ...
... A “Multiple Employer” 401(k) plan (“MEP”), where a single 401(k) plan is jointly sponsored by a number of unrelated employers, can often provide a cost effective way for some employers to manage their risks related to sponsoring a 401(k) plan, while enjoying advantageous pricing on investments and a ...
chapter 8. the natural rate of unemployment and the phillips curve
... the Phillips curve may break down when inflation is very low (or negative). In this case, high unemployment may not lead to much reduction in inflation. This point is relevant today because many countries have low inflation. Japan actually has negative inflation. In addition, this reasoning may help ...
... the Phillips curve may break down when inflation is very low (or negative). In this case, high unemployment may not lead to much reduction in inflation. This point is relevant today because many countries have low inflation. Japan actually has negative inflation. In addition, this reasoning may help ...
Key Investor Information
... change over time. A fund in the lowest category does not mean a risk-free investment. The fund is in this category because it can take higher risks in search of higher rewards and its price may rise and fall accordingly. Risk factors The following risks may affect fund performance. Capital risk / di ...
... change over time. A fund in the lowest category does not mean a risk-free investment. The fund is in this category because it can take higher risks in search of higher rewards and its price may rise and fall accordingly. Risk factors The following risks may affect fund performance. Capital risk / di ...
Document
... Step 1. Use the percentage formula, Rate = Portion / Base, to find the percentage of each item on the balance sheet. Use each individual item as the portion and the total asset as the base. Step 2. Round each answer to the nearest tenth percent. Step 3. List the percent of each balance sheet item in ...
... Step 1. Use the percentage formula, Rate = Portion / Base, to find the percentage of each item on the balance sheet. Use each individual item as the portion and the total asset as the base. Step 2. Round each answer to the nearest tenth percent. Step 3. List the percent of each balance sheet item in ...
Mr. Woodford and the Challenge of Finance
... central banks to exert relatively direct control over overnight nominal interest rates, and so they generally formulate their short-run objectives (their operating target) in terms of the effect that they seek to bring about in this variable rather than in one of the others. Woodford (2003, p. 34) W ...
... central banks to exert relatively direct control over overnight nominal interest rates, and so they generally formulate their short-run objectives (their operating target) in terms of the effect that they seek to bring about in this variable rather than in one of the others. Woodford (2003, p. 34) W ...
Chapter 3
... company's cost of capital is profitable (and will have positive NPV). • Companies set "hurdle rates" for IRR. A hurdle rate is an arbitrary minimum IRR that the company will accept for implementing projects. Hurdle rates are normally higher than a company's cost of capital, so only higher profit pro ...
... company's cost of capital is profitable (and will have positive NPV). • Companies set "hurdle rates" for IRR. A hurdle rate is an arbitrary minimum IRR that the company will accept for implementing projects. Hurdle rates are normally higher than a company's cost of capital, so only higher profit pro ...
Russia: Issues in Public Expenditure Policy
... can be a potent force for restructuring the economy. In the longer run, however, this scope is bounded by the constraints that political and economic freedom in an increasingly integrated global economy place on any government. Attempts to maintain too large a public sector could encourage flight of ...
... can be a potent force for restructuring the economy. In the longer run, however, this scope is bounded by the constraints that political and economic freedom in an increasingly integrated global economy place on any government. Attempts to maintain too large a public sector could encourage flight of ...
The Monetary Policy Transmission Process: What Do We Know
... it is not only the cost of capital and cash flow that matter. Central to the investment decision is a forecast of the general economic climate in which the project will operate (‘business sentiment’ or ‘animal spirits’). This climate is influenced, not just via interest rates, but by perceptions abo ...
... it is not only the cost of capital and cash flow that matter. Central to the investment decision is a forecast of the general economic climate in which the project will operate (‘business sentiment’ or ‘animal spirits’). This climate is influenced, not just via interest rates, but by perceptions abo ...
Inflation and growth: Explaining a negative effect
... not explicitly deal with the balanced-growth rate of output.1 Sidrauski’s (1967) money-in-the-utility function model and Ireland’s (1994) AK model derive only a transitional effect of inflation on the growth rate. Dotsey and Sarte (2000) use an AK–type model, apply the Clower constraint to investment ...
... not explicitly deal with the balanced-growth rate of output.1 Sidrauski’s (1967) money-in-the-utility function model and Ireland’s (1994) AK model derive only a transitional effect of inflation on the growth rate. Dotsey and Sarte (2000) use an AK–type model, apply the Clower constraint to investment ...
Impact Assessment (IA)
... A small proportion of loans are assumed to be written off in due course where there is inadequate equity to recover the loan, but no write-offs are assumed in the period covered by this IA. We assume that 5% of working age claimants (those claiming through JSA, ESA or IS) and 8% of those of pension ...
... A small proportion of loans are assumed to be written off in due course where there is inadequate equity to recover the loan, but no write-offs are assumed in the period covered by this IA. We assume that 5% of working age claimants (those claiming through JSA, ESA or IS) and 8% of those of pension ...
CFIN
... Computron’s debt ratio is above the industry average, and the trend is up Creditors have supplied over one-half the firm’s total financing Computron probably would find it difficult to borrow additional funds at a reasonable cost without first raising more equity capital ...
... Computron’s debt ratio is above the industry average, and the trend is up Creditors have supplied over one-half the firm’s total financing Computron probably would find it difficult to borrow additional funds at a reasonable cost without first raising more equity capital ...
KW2_Ch08_FINAL
... nation as a whole, the U.S. government also estimates unemployment rates for each state. In July 2007 the unemployment rate in Montana, like that in other mountain states, was very low: just 2.7%. Meanwhile, Michigan had a 7.2% unemployment rate. Montana was doing well mainly because the state’s boo ...
... nation as a whole, the U.S. government also estimates unemployment rates for each state. In July 2007 the unemployment rate in Montana, like that in other mountain states, was very low: just 2.7%. Meanwhile, Michigan had a 7.2% unemployment rate. Montana was doing well mainly because the state’s boo ...
final review macro - Open Computing Facility
... 65. An increase in AD when the economy is operating at low levels of output is likely to result in an increase in output with little or no increase in the overall price level because at low levels of output, resources or inputs are underutilized. Therefore, an increase in AD would not push prices ve ...
... 65. An increase in AD when the economy is operating at low levels of output is likely to result in an increase in output with little or no increase in the overall price level because at low levels of output, resources or inputs are underutilized. Therefore, an increase in AD would not push prices ve ...
Pay settlements and average earnings outline
... revealed that two thirds of housing associations pay the living wage, with a third accredited by the Living Wage Foundation and a third paying the wage without official accreditation. Only a minority of employers that adopt the Living Wage have gone down the route of seeking official accreditation a ...
... revealed that two thirds of housing associations pay the living wage, with a third accredited by the Living Wage Foundation and a third paying the wage without official accreditation. Only a minority of employers that adopt the Living Wage have gone down the route of seeking official accreditation a ...
Chapter 6 Long-run aspects of fiscal policy and
... national government and a central bank. In economics the term “government” does not generally refer to the particular administration in o¢ ce at a point in time. The term is rather used in a broad sense, encompassing both legislation and administration. The aspects of legislation and administration ...
... national government and a central bank. In economics the term “government” does not generally refer to the particular administration in o¢ ce at a point in time. The term is rather used in a broad sense, encompassing both legislation and administration. The aspects of legislation and administration ...
PowerPoint-Präsentation
... Much harder to create value through financial activities Changes in asset price respond only to new information. This implies that asset prices move almost randomly. Berlin, 04.01.2006 ...
... Much harder to create value through financial activities Changes in asset price respond only to new information. This implies that asset prices move almost randomly. Berlin, 04.01.2006 ...
Practice Set 1
... demand for loanable funds to the: A. left and increase the interest rate. B. left and decrease the interest rate. C. right and increase the interest rate. D. right and decrease the interest rate. E. right and have no impact on the interest rate. ____ 13. Use the “Market for Loanable Funds II” Figure ...
... demand for loanable funds to the: A. left and increase the interest rate. B. left and decrease the interest rate. C. right and increase the interest rate. D. right and decrease the interest rate. E. right and have no impact on the interest rate. ____ 13. Use the “Market for Loanable Funds II” Figure ...
Unit 5 Test …may the force be with you…….
... The wealth effect is not very important because it operates through changes in the real value of money, and money is only a small fraction of household wealth. So it is unlikely that changes in the price level will lead to large changes in consumption spending through this channel. The exchange-rate ...
... The wealth effect is not very important because it operates through changes in the real value of money, and money is only a small fraction of household wealth. So it is unlikely that changes in the price level will lead to large changes in consumption spending through this channel. The exchange-rate ...
The Great Recession of 2008-2009: Causes, Consequences
... the course of events’. Yet, there were economists and other professional analysts, albeit small in numbers, who were prescient enough to issue a warning about a gathering storm. One paper (Bezemer 2009a: table 1, p.9) claims that 12 economists and professional analysts predicted (between 2005 and 20 ...
... the course of events’. Yet, there were economists and other professional analysts, albeit small in numbers, who were prescient enough to issue a warning about a gathering storm. One paper (Bezemer 2009a: table 1, p.9) claims that 12 economists and professional analysts predicted (between 2005 and 20 ...
Nigeria - World Economic Forum
... A country can reap a demographic dividend if the size of its working age population increases while the number outside that range declines due to sustained lower fertility (average number of children per woman). A workforce with fewer dependents relative to the working age population has the potenti ...
... A country can reap a demographic dividend if the size of its working age population increases while the number outside that range declines due to sustained lower fertility (average number of children per woman). A workforce with fewer dependents relative to the working age population has the potenti ...
