... Did the global economic crisis stress out the need to think about new economic
theory, new understanding of economics? Did the global economic crisis point out
the fact that national governments have limited possibilities to solve many problems
in their economy and their society? Why is the number o ...
... flow of $2.0 billion. Through share repurchases and dividends, we
returned $3.2 billion in cash to our shareholders, or approximately
160 percent of 2014 reported free cash flow.
...
... The Formation of Expectations
If inflation is persistently positive, agents will
include this variable in their calculations.
There are many ways to model this idea:
– “Agents know how the economy works and all the
incentives that the Fed has. They make a good guess
of the Fed’s next move and d ...
... Table 2.3: Investment Targets for the Sixth Plan...................................................................... 29
Table 2.4: Export Performance in the Sixth Plan, FY10-FY13 ................................................... 36
Table 2.5: Estimated Job Creation in the Sixth Plan (million wor ...
... of being more environmentally responsible. The second R concept, Reuse, has also
been deemed as a challenge A&F has been willing taken on. The company has not
only begun to reuse and redistribute, but have also made additional efforts to start
their own Free-Cycle board on campus to continue their e ...
... overestimated the size of automatic stabilisers in
Sweden. The OECD does not take into account that
local governments in Sweden now operate under a
balanced budget requirement (see Section 4.3.2),
which they also seem to respect. This means that local
government expenditure is not independent of GDP ...
... This paper builds on the influential paper of Thomas and Worrall (1994), who introduce a
model of foreign direct investment in an environment of limited commitment. Alburquerque
and Hopenhayn (2004) develop a related model. Our analysis differs from these papers in
several important respects. The fi ...
... policy has become an increasingly important issue which is the premise to not only help precisely evaluate policy
impacts but keep the economy in the line with objectives. As indicated by Blinder (1998), a “tight”, “neutral” or
“loose” relative to a country’s objectives could be quantitatively measu ...
... supports a market equilibrium model that includes skewness. Friend and Westerfield
(1980) find less evidence in support of the three-moment model, but Lim (1989) verifies
the Kraus and Litzenberger (1976) result. More recently, Harvey and Siddique (1998)
find that conditional skewness is priced in ...
... that enter household consumption, such as food, clothing, housing, care services and entertainment (known as
the induced employment effect). In short, the injection of
demand into the economy by government investment will
generate employment directly and indirectly and have an
expansionary impact on ...
... Fees are based on the Net Worth* at the time of the engagement and may be adjusted at the end of
three years and every three years thereafter based on Advisor’s formula at those times.
Fees are due quarterly in advance and a pro-rata refund will be paid to Client if canceled within any
quarter. This ...
... beginnings of an upswing in non-oil exports to the United States are the main positive impulses
coming from the international economy. The stronger domestic positions achieved by the
countries of the region are also significant, however. After six years of turbulence, most of the
countries are emerg ...
... r, which you can think of as a representative short-term interest rate such as the
rate on one-month CDs. (As we discussed in Chapter 10, it is the nominal interest
rate, not the real interest rate, that influences people’s money allocation decisions.
Hence, r in Figure 15-1 and all subsequent figur ...
... (ii) Accept-reject decisions: The accept-reject decisions occur when proposals are
independent and do not compete with each other. The firm may accept or reject a
proposal on the basis of a minimum return on the required investment. All those
proposals which give a higher return than certain desired ...
... oshore provision of relevant R&D services or entire research projects, or it may alter the
incentives for this activity for domestic individuals and, thus, also the equilibrium allocation
of domestic resources between such investment on the one hand, and the production of goods
and services on the ...
... Nevada, Oregon, Utah, and Washington. We hope that they may also help to inform your work.
Each report is divided into two sections: one covering the overall “Community Development Environment” in the state, and the
other covering the “Community Development Needs and Resources” in the state. These e ...
... Van Soest (2012)) For instance, List (2006) finds that sports cards traders behave
substantially different in gift exchange in the lab and in the field. Stoop, Noussair and
Van Soest (2012) find that fishermen cooperate in a standard monetary voluntary
contribution mechanism, but fish more than the ...
... In , we note that, until 1994, a certain portion of the firms in our
database does not have access to financial intermediaries for their corporate financing.
...
... increases, was not in line with its mandate. In contrast, the Federal Reserve kept the policy rate at its lower
bound, soon started to communicate possible policy easing, and later launched QE2, the second round of
quantitative easing. That the Swedish economy nevertheless grew faster than expected ...
... the possibility of increasing domestic resources by reducing foreign investment. Suppose that foreign investment grows at rate g, and let r denote the rate of return earned
by investments abroad after payment of foreign taxes. For illustrative purposes assume
that foreign earnings are immediately re ...
... there is a positive increase in G1t and an unchanged level of G2t . Then, there is a
negative wealth effect because government increase the usage of private resource. In
response to this negative wealth effect, households increase Nt . Because G2t is fixed,
N2t is constant. Therefore, the increase i ...
... classification, the Budget documents in 2017-18 Central funds, while at the same time it keeps up the
include a separate document on consolidated pressure on pushing up this component of revenue
Outcome Budget of Ministries/Departments of the expenditure for creation of tangible physical assets.
Cen ...
... remain no better than low-skilled over the long run – there is just a 0.14 percentage point
increase in the aggregate unemployment rate because labour demand is raised by supplydriven cuts in real wages as well as shifts in demand towards employees with different
qualifications. In this worst-case s ...
... ROA is 10.12%, then the firm grows at 7.24% (without external
financing).
– Note that growth can be improved if ROA is improved
– How can ROA be improved? Increase Sales or Decrease Expenses
– Which parts of sales or expenses are best suited for improvement?
How do you breakdown sales and expenses i ...
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.
