Chapter 3 A R :
... expenditure during the current year was less than its budget estimates of Rs. 62537 crore which itself was fixed at much below the level projected by TFC for 2005-06 to move ahead to attain the targeted level of 3.5 per cent of GDP by the terminal year (2009-10) of its award period. Revenue expendit ...
... expenditure during the current year was less than its budget estimates of Rs. 62537 crore which itself was fixed at much below the level projected by TFC for 2005-06 to move ahead to attain the targeted level of 3.5 per cent of GDP by the terminal year (2009-10) of its award period. Revenue expendit ...
Fiscal sustainability report
... and liabilities that it has accumulated on its balance sheet; and second, we look at the potential impact of future public sector activity, by projecting how spending and revenues may evolve over the next 50 years – and the impact this would have on public sector net debt. Broadly speaking, the fisc ...
... and liabilities that it has accumulated on its balance sheet; and second, we look at the potential impact of future public sector activity, by projecting how spending and revenues may evolve over the next 50 years – and the impact this would have on public sector net debt. Broadly speaking, the fisc ...
Government Spending Multiplier in Turkey June 2015
... innovations. The last category, ‘the recursive approach’represented by Fatas and Mihov (2001), and Favero (2003), achieves the identi…cation of …scal policy shocks by relying on Cholesky ordering. All these studies mentioned above are based on a linear VAR model, which have been criticized recently ...
... innovations. The last category, ‘the recursive approach’represented by Fatas and Mihov (2001), and Favero (2003), achieves the identi…cation of …scal policy shocks by relying on Cholesky ordering. All these studies mentioned above are based on a linear VAR model, which have been criticized recently ...
ESRB/2014/1 - European Systemic Risk Board
... when risks materialise. This can mitigate the pro-cyclical behaviour of credit institutions by helping them absorb losses, while still maintaining lending to the real economy and complying with solvency requirements. When risks do not materialise but are judged to recede, a gradual release of the bu ...
... when risks materialise. This can mitigate the pro-cyclical behaviour of credit institutions by helping them absorb losses, while still maintaining lending to the real economy and complying with solvency requirements. When risks do not materialise but are judged to recede, a gradual release of the bu ...
research paper series Research Paper 2007/16
... more than the amount of FDI. In contrast, crowding-out implies that total investment increases by less than the FDI, as other (private) investment is reduced. In terms of access to finance and skilled labour, the presence of foreign firms raises costs to local firms of obtaining finance or employing ...
... more than the amount of FDI. In contrast, crowding-out implies that total investment increases by less than the FDI, as other (private) investment is reduced. In terms of access to finance and skilled labour, the presence of foreign firms raises costs to local firms of obtaining finance or employing ...
- Arcadis
... centres have offered the best return, with Frankfurt, Hamburg, Milan and London offering the greatest improvement in income with the fastest payback period. All of these European cities are in the early stages of the property cycle of increasing rental and capital growth. Crucially, these locations ...
... centres have offered the best return, with Frankfurt, Hamburg, Milan and London offering the greatest improvement in income with the fastest payback period. All of these European cities are in the early stages of the property cycle of increasing rental and capital growth. Crucially, these locations ...
The Effects of Unconventional and Conventional U.S. Monetary
... coefficients indicate that a one standard deviation surprise unconventional policy easing leads to a 5 to 6 bp depreciation in the dollar, magnitudes that are comparable to those for federal funds rate surprises in the pre-crisis period. This suggests that monetary policy has the same bang-perunit ...
... coefficients indicate that a one standard deviation surprise unconventional policy easing leads to a 5 to 6 bp depreciation in the dollar, magnitudes that are comparable to those for federal funds rate surprises in the pre-crisis period. This suggests that monetary policy has the same bang-perunit ...
physical savings - Editorial Express
... real interest rate. What is the effect of real interest rate (IR) on savings? The effect of an increase in real interest rate on saving could be either positive or negative. An increase in real interest rate increases the relative price of current consumption. Hence, it encourages people to substitu ...
... real interest rate. What is the effect of real interest rate (IR) on savings? The effect of an increase in real interest rate on saving could be either positive or negative. An increase in real interest rate increases the relative price of current consumption. Hence, it encourages people to substitu ...
PDF - Urban Institute
... Over the past two years, the long-term budget outlook has deteriorated markedly. Although many policymakers and economists have expressed concern that this fiscal deterioration will reduce future national income and raise interest rates, Bush administration officials and others have publicly denied ...
... Over the past two years, the long-term budget outlook has deteriorated markedly. Although many policymakers and economists have expressed concern that this fiscal deterioration will reduce future national income and raise interest rates, Bush administration officials and others have publicly denied ...
Liquidity provision, banking, and the allocation of interest rate risk*
... investments k, I and long-term investments k,,. - At date 1, the liquidation Ls k,, of date 0 long-term investments must be determined; this may depend on the observed realization of 8,. - At date 1, the available returns from date 0 short-term investments and possibly from liquidated date 0 long-te ...
... investments k, I and long-term investments k,,. - At date 1, the liquidation Ls k,, of date 0 long-term investments must be determined; this may depend on the observed realization of 8,. - At date 1, the available returns from date 0 short-term investments and possibly from liquidated date 0 long-te ...
Developing Annuities Markets The Experience of Chile
... This study of the Chilean annuities market consists of seven chapters, two technical annexes, and one statistical annex. It is part of a broader project on annuities coordinated by the Operations Policy Department (OPD) of the World Bank and designed to identify best regulatory practices and institu ...
... This study of the Chilean annuities market consists of seven chapters, two technical annexes, and one statistical annex. It is part of a broader project on annuities coordinated by the Operations Policy Department (OPD) of the World Bank and designed to identify best regulatory practices and institu ...
Ratio Analysis
... like to see debt on a company’s balance sheet because if it is reinvested well, it will provide more of a return on the money they have invested. Conversely, lenders and creditors generally do not like to see too much debt on a company’s balance sheet because the more debt a company has, the less ...
... like to see debt on a company’s balance sheet because if it is reinvested well, it will provide more of a return on the money they have invested. Conversely, lenders and creditors generally do not like to see too much debt on a company’s balance sheet because the more debt a company has, the less ...
Fiscal Expansions and Adjustments in OECD Countries by Alberto
... with Okun's law, to adjust the value of several expenditures sensitive to the cycle, like unemployment benefits? Addressing the second problem presents difficulties that are more practical in nature. For instance, to adjust unemployment benefits one would ideally need rather detailed information on ...
... with Okun's law, to adjust the value of several expenditures sensitive to the cycle, like unemployment benefits? Addressing the second problem presents difficulties that are more practical in nature. For instance, to adjust unemployment benefits one would ideally need rather detailed information on ...
Public real estate and the term structure of interest rates
... 1. Introduction The events of the last decade have brought into sharp focus the importance of the credit markets and how interest rates dynamics can feed through and impact asset classes such as equities. In a general context, Bernanke & Kuttner (2005) argue that changes in interest rates can affect ...
... 1. Introduction The events of the last decade have brought into sharp focus the importance of the credit markets and how interest rates dynamics can feed through and impact asset classes such as equities. In a general context, Bernanke & Kuttner (2005) argue that changes in interest rates can affect ...
Working Paper Series Is fiscal consolidation self-defeating? A panel-VAR analysis for the euro
... their sovereign creditworthiness. Nonetheless, in most cases, fiscal consolidation did not result, at least in the short run, in a reduction in the debt-to-GDP ratio whereas economic growth turned out weaker than expected. Against this background, calls for a more temperate approach to fiscal consol ...
... their sovereign creditworthiness. Nonetheless, in most cases, fiscal consolidation did not result, at least in the short run, in a reduction in the debt-to-GDP ratio whereas economic growth turned out weaker than expected. Against this background, calls for a more temperate approach to fiscal consol ...
the elusive recovery
... Juncker plan was that a stimulus was needed at the euro area level and that an investment stimulus would achieve simultaneously a short-term macro boost to escape the secular stagnation trap, and a longer-term effect through higher productivity levels and assets build-up, that ensure the sustainabil ...
... Juncker plan was that a stimulus was needed at the euro area level and that an investment stimulus would achieve simultaneously a short-term macro boost to escape the secular stagnation trap, and a longer-term effect through higher productivity levels and assets build-up, that ensure the sustainabil ...
Investment Analysis and Portfolio Management
... Willingness. The Maclins have a below-average willingness to take risk, based on their unhappiness with the portfolio volatility they have experienced in recent years and their desire not to experience a loss in portfolio value in excess of 12 percent in any one year. Ability. The Maclins have an av ...
... Willingness. The Maclins have a below-average willingness to take risk, based on their unhappiness with the portfolio volatility they have experienced in recent years and their desire not to experience a loss in portfolio value in excess of 12 percent in any one year. Ability. The Maclins have an av ...
Wespath`s Hedge Fund Strategy— The Path Not Followed
... returns. After conducting thorough due diligence, we are willing to be early adopters of an investment strategy—if justified by our analysis. In 1991, Wespath was an early investor in positive social purpose loans and in 1998 we invested in U.S. Treasury Inflation Protected Securities—approximately ...
... returns. After conducting thorough due diligence, we are willing to be early adopters of an investment strategy—if justified by our analysis. In 1991, Wespath was an early investor in positive social purpose loans and in 1998 we invested in U.S. Treasury Inflation Protected Securities—approximately ...
A Review of Crisis Management Programs Supported by IMF Stand
... financial meltdown. While the average GDP growth of SBA countries in 2009 was lower by 2.7 percentage points than that of their non-program peers, the difference narrowed in 2010 to 1.6 percentage points. Though attribution is difficult, especially given the substantial and contemporaneous global ea ...
... financial meltdown. While the average GDP growth of SBA countries in 2009 was lower by 2.7 percentage points than that of their non-program peers, the difference narrowed in 2010 to 1.6 percentage points. Though attribution is difficult, especially given the substantial and contemporaneous global ea ...
bondch11s
... incentive increases during periods of falling interest rates, with the greatest increases occurring when borrowers determine that rates have bottomed out. The refinancing incentive can be measured by the difference between the mortgage portfolio's weighted average rate, referred to as the weighted ...
... incentive increases during periods of falling interest rates, with the greatest increases occurring when borrowers determine that rates have bottomed out. The refinancing incentive can be measured by the difference between the mortgage portfolio's weighted average rate, referred to as the weighted ...
2013 Annual Report - Investor Relations Solutions
... Our strategic rationale is clear. We’re focusing our investments, resources and talent on iconic brands that we believe we can grow around the world, brands such as Campbell’s, Goldfish, Pepperidge Farm, Arnott’s and V8, and on new businesses in faster-growing spaces, like Bolthouse Farms, Plum Organ ...
... Our strategic rationale is clear. We’re focusing our investments, resources and talent on iconic brands that we believe we can grow around the world, brands such as Campbell’s, Goldfish, Pepperidge Farm, Arnott’s and V8, and on new businesses in faster-growing spaces, like Bolthouse Farms, Plum Organ ...
estimating terminal value
... reasonable assumption to make. Note that the growth rate of an economy reflects the contributions of both young, higher-growth firms and mature, stable growth firms. If the former grow at a rate much higher than the growth rate of the economy, the latter have to grow at a rate that is lower. Setting ...
... reasonable assumption to make. Note that the growth rate of an economy reflects the contributions of both young, higher-growth firms and mature, stable growth firms. If the former grow at a rate much higher than the growth rate of the economy, the latter have to grow at a rate that is lower. Setting ...
Beyond Full Employment: The Employer of Last Resort as an
... them go when they find private sector employment, without major disruptions to the public sector projects (Forstater 1999a). A careful program design will produce a database of such tasks that can be easily shelved when there is little demand for ELR work. But it will also permit some level of exper ...
... them go when they find private sector employment, without major disruptions to the public sector projects (Forstater 1999a). A careful program design will produce a database of such tasks that can be easily shelved when there is little demand for ELR work. But it will also permit some level of exper ...
(AWE) QMI - Office for National Statistics
... of rates of pay and can be affected by changes in the composition of an enterprise’s workforce. AWE estimates are usually expressed as a level, in pounds per employee per week, which represents the month as a whole. AWE is calculated from returns to the Monthly Wages and Salaries Survey (MWSS), and ...
... of rates of pay and can be affected by changes in the composition of an enterprise’s workforce. AWE estimates are usually expressed as a level, in pounds per employee per week, which represents the month as a whole. AWE is calculated from returns to the Monthly Wages and Salaries Survey (MWSS), and ...