Belgian business investment in the context of the crisis
... evidently caused by the marked deterioration in demand combined with an initially rather inelastic total wage bill. It was only after firms were able to reduce their demand for labour (aided by recourse to the system of temporary lay-offs) that they gradually managed to restore their profitability. ...
... evidently caused by the marked deterioration in demand combined with an initially rather inelastic total wage bill. It was only after firms were able to reduce their demand for labour (aided by recourse to the system of temporary lay-offs) that they gradually managed to restore their profitability. ...
IMF Country Report No. 15/80, March 2015.
... Absorption of SCF for the 2007–13 programming period has suffered largely due to domestic governance and capacity issues. Romania’s difficulties in absorbing SCF are well documented (Lungu, 2012; Romania, 2011; KPMG, 2014). These deficiencies have resulted in the suspension or interruption of some o ...
... Absorption of SCF for the 2007–13 programming period has suffered largely due to domestic governance and capacity issues. Romania’s difficulties in absorbing SCF are well documented (Lungu, 2012; Romania, 2011; KPMG, 2014). These deficiencies have resulted in the suspension or interruption of some o ...
Prospective Interest Rate Differential and Currency Returns
... we will suffer the well-known “Hurwicz bias” that occurs when the sample size is small. This issue constitutes another difficulty: that our point estimates will be severely downward biased in the early sample period, thereby contaminating the return predictability results. We overcome these two diff ...
... we will suffer the well-known “Hurwicz bias” that occurs when the sample size is small. This issue constitutes another difficulty: that our point estimates will be severely downward biased in the early sample period, thereby contaminating the return predictability results. We overcome these two diff ...
The 1 Percent Solution
... countries over the course of 200 years. They found that as debt-to-GDP ratios go from 30 to 90 percent, growth rates tend to halve.10 The long-term budget problem cannot be addressed without spending reductions. For one thing, any approach that involves tax increases alone would be prohibitively cos ...
... countries over the course of 200 years. They found that as debt-to-GDP ratios go from 30 to 90 percent, growth rates tend to halve.10 The long-term budget problem cannot be addressed without spending reductions. For one thing, any approach that involves tax increases alone would be prohibitively cos ...
Chapter 4: Theories of Economic Growth
... the first instinct of an economist is to look for an equilibrium: some economic quantity or group of quantities for which there are stable values. These equilibrium values need to be stable in two senses. First, if the economy is in a state in which these quantities are not at their equilibrium valu ...
... the first instinct of an economist is to look for an equilibrium: some economic quantity or group of quantities for which there are stable values. These equilibrium values need to be stable in two senses. First, if the economy is in a state in which these quantities are not at their equilibrium valu ...
CHAPTER 8 THE ANATOMY OF INFLATION AND
... attracting new funds increases, while the real rate of return on existing long-term assets decreases. Since a significant part of the assets of Banks were in mortgages, profitability declined. Therefore, financial institutions tried to shift the interest rate risk onto the homeowners by offering ad ...
... attracting new funds increases, while the real rate of return on existing long-term assets decreases. Since a significant part of the assets of Banks were in mortgages, profitability declined. Therefore, financial institutions tried to shift the interest rate risk onto the homeowners by offering ad ...
CHAPTER 10
... flows discounted at some discount rate reflecting risk. Anticipated economic conditions are already incorporated in returns. Unanticipated economic conditions affect returns. Industrial production. Industrial production is related to cash flows in the traditional discounted cash flow formula. The re ...
... flows discounted at some discount rate reflecting risk. Anticipated economic conditions are already incorporated in returns. Unanticipated economic conditions affect returns. Industrial production. Industrial production is related to cash flows in the traditional discounted cash flow formula. The re ...
economic and fiscal outlook
... reflective of increasing asset prices, transactions in the property market and share disposals. Taking account of the performance in the year-to-date, it is now expected that tax revenues will finish the year some €2.3 billion, or 5.5 per cent, above the Budget 2015 target. Most, though not all, of ...
... reflective of increasing asset prices, transactions in the property market and share disposals. Taking account of the performance in the year-to-date, it is now expected that tax revenues will finish the year some €2.3 billion, or 5.5 per cent, above the Budget 2015 target. Most, though not all, of ...
workers compensation - Casualty Actuarial Society
... Based on data through 12/31/2003 for the states where NCCI provides ratemaking services NCCI benchmark level includes no provision for profit and contingency Dividend ratios are based on calendar year statistics ...
... Based on data through 12/31/2003 for the states where NCCI provides ratemaking services NCCI benchmark level includes no provision for profit and contingency Dividend ratios are based on calendar year statistics ...
Costly Financial Intermediation in Neoclassical Growth Theory
... average household lending rate. Relative to the level of the observed average rates of return on debt and equity securities this spread is far from being insignificant. Since our model abstracts from aggregate risk, by construction there is no premium for bearing aggregate risk. As explained later, ...
... average household lending rate. Relative to the level of the observed average rates of return on debt and equity securities this spread is far from being insignificant. Since our model abstracts from aggregate risk, by construction there is no premium for bearing aggregate risk. As explained later, ...
Endogenous Interest rate Wedge and Productivity Growth in an
... India...), however, have lower capital-effective-labor ratio than advanced economy (United States, United Kingdoms...) even when the financial markets integrate together for last decades (Figure 2). This second fact contradicts to free mobility of capital and convergence of lending interest rate acr ...
... India...), however, have lower capital-effective-labor ratio than advanced economy (United States, United Kingdoms...) even when the financial markets integrate together for last decades (Figure 2). This second fact contradicts to free mobility of capital and convergence of lending interest rate acr ...
The two period production economy
... The reason is that the increase in productivity makes the household richer, and accordingly she decides to spend more in current consumption. Thus, everything else constant, the aggregate demand shifts to the right, as described in Figure 1. Note that the impact is only 4 to 1: since the consumer va ...
... The reason is that the increase in productivity makes the household richer, and accordingly she decides to spend more in current consumption. Thus, everything else constant, the aggregate demand shifts to the right, as described in Figure 1. Note that the impact is only 4 to 1: since the consumer va ...
the gender implications of macroeconomic policy and performance
... Prior to the Asian crisis, Malaysia was one of the fastest growing economies in the world and was on track to achieving developed country status by the year 2020. Since Independence in 1957, the Malaysian economy has grown by an average of seven percent per year. Over this period the Malaysian econo ...
... Prior to the Asian crisis, Malaysia was one of the fastest growing economies in the world and was on track to achieving developed country status by the year 2020. Since Independence in 1957, the Malaysian economy has grown by an average of seven percent per year. Over this period the Malaysian econo ...
Diapositiva 1 - National Transfer Accounts
... intergenerational family transfers (IFT) using NTA estimates • Why is ageing a problem for the welfare state?:.. Besides the traditional constraints on public policy • Tax schedules that are as neutral as possible • A new difficulty emerges: most of the social programs (pensions, health care, educat ...
... intergenerational family transfers (IFT) using NTA estimates • Why is ageing a problem for the welfare state?:.. Besides the traditional constraints on public policy • Tax schedules that are as neutral as possible • A new difficulty emerges: most of the social programs (pensions, health care, educat ...
LCcarG561_en.pdf
... The export trade is highly concentrated with bananas accounting for over 40 per cent of domestic exports in Dominica, Saint Lucia and Saint Vincent and the Grenadines and sugar for about 30 per cent of Saint Kitts-Nevis’. Bananas, cocoa and nutmegs dominate Grenada’s merchandise trade. In the OECS o ...
... The export trade is highly concentrated with bananas accounting for over 40 per cent of domestic exports in Dominica, Saint Lucia and Saint Vincent and the Grenadines and sugar for about 30 per cent of Saint Kitts-Nevis’. Bananas, cocoa and nutmegs dominate Grenada’s merchandise trade. In the OECS o ...
PRESENTATION TO HE DARWISH ISMA`EEL ALI AL BALUSHI
... THE GOAL (10 yrs.) 1. Achieve profitability from year 2 2. Target 500,0001 students over 10 yrs. 3. Multiplier difficult to estimate - ‘goal’: ...
... THE GOAL (10 yrs.) 1. Achieve profitability from year 2 2. Target 500,0001 students over 10 yrs. 3. Multiplier difficult to estimate - ‘goal’: ...
EUROPEAN COMMISSION Brussels, 26.2.2015 SWD(2015) 46 final
... expands due to higher spending on integration of migrants, education and elderly care. Sweden's level of investment is high compared to its peer countries. Further investments in research and development and education could help to reverse the declining R&D investment trend and to boost the long-ter ...
... expands due to higher spending on integration of migrants, education and elderly care. Sweden's level of investment is high compared to its peer countries. Further investments in research and development and education could help to reverse the declining R&D investment trend and to boost the long-ter ...
Getting Back to Full Employment - Center for Economic and Policy
... percent fewer hours and cut back their work accordingly, then employers would have to create roughly 20 percent more jobs. The real world is more complicated, but the basic logic holds, other things being equal: If the typical worker puts in less time on the job, more people will have jobs. We shoul ...
... percent fewer hours and cut back their work accordingly, then employers would have to create roughly 20 percent more jobs. The real world is more complicated, but the basic logic holds, other things being equal: If the typical worker puts in less time on the job, more people will have jobs. We shoul ...
Plenty of Room? Fiscal Space in a Resource Abundant
... PPP-adjusted dollar a day World Bank thresholds. As these numbers show, there is little signal of a substantial improvement of poverty trends of the magnitude that would be necessary for meeting the millennium development goal of reducing extreme poverty to one-half of its 1990 level. Although the p ...
... PPP-adjusted dollar a day World Bank thresholds. As these numbers show, there is little signal of a substantial improvement of poverty trends of the magnitude that would be necessary for meeting the millennium development goal of reducing extreme poverty to one-half of its 1990 level. Although the p ...
The long term equilibrium interest rate and risk premiums under
... Fund”, now termed the ”Norwegian Government Pension Fund Global”. 3 This fund owns close to 1% of the world’s available stocks, and by the end of 2008 had investments of 150 billion US dollars in 55 countries spread over 7366 companies. The rationale for doing so that has been put forward is (a) the ...
... Fund”, now termed the ”Norwegian Government Pension Fund Global”. 3 This fund owns close to 1% of the world’s available stocks, and by the end of 2008 had investments of 150 billion US dollars in 55 countries spread over 7366 companies. The rationale for doing so that has been put forward is (a) the ...
Consumption, inflation risk and dynamic hedging
... of futures markets and derive optimal hedge ratios and welfare in cases where an asset price and the price of a composite commodity are uncertain. The existence of risk-sharing markets and risk-reducing institutions in open economies significantly modifies the impact of price and return risk. The pr ...
... of futures markets and derive optimal hedge ratios and welfare in cases where an asset price and the price of a composite commodity are uncertain. The existence of risk-sharing markets and risk-reducing institutions in open economies significantly modifies the impact of price and return risk. The pr ...
Prudent Practices for Investment Managers
... written investment policy statements Practice No. 1.2 Fiduciaries are aware of their duties and responsibilities Practice No. 1.3 Fiduciaries and parties in interest are not involved in self-dealing Practice No. 1.4 Service agreements and contracts are in writing, and do not contain provisions that ...
... written investment policy statements Practice No. 1.2 Fiduciaries are aware of their duties and responsibilities Practice No. 1.3 Fiduciaries and parties in interest are not involved in self-dealing Practice No. 1.4 Service agreements and contracts are in writing, and do not contain provisions that ...
IPR-intensive industries: contribution to economic performance and
... Comparison with the USA Comparing the results for the EU with those of a USA study* reveals that the contributions of IPR-intensive industries are similar. *undertaken by the US Patent and Trademark Office ...
... Comparison with the USA Comparing the results for the EU with those of a USA study* reveals that the contributions of IPR-intensive industries are similar. *undertaken by the US Patent and Trademark Office ...
National Budget
... The 2012 Budget, which is the fourth for the current administration, seeks to answer these questions focusing on infrastructure development as the take off point. It is estimated that meeting Ghana’s infrastructure needs over the next ten years would cost approximately US$1.6 billion per year. For 2 ...
... The 2012 Budget, which is the fourth for the current administration, seeks to answer these questions focusing on infrastructure development as the take off point. It is estimated that meeting Ghana’s infrastructure needs over the next ten years would cost approximately US$1.6 billion per year. For 2 ...
MODULE 11 Guidance to completing the Leverage Ratio module of
... between a bank and its counterparty to deliver a given currency on a given value date is automatically amalgamated with all other obligations for the same currency and value date, legally substituting one single amount for the previous gross obligations. b) Banks may also net transactions subject to ...
... between a bank and its counterparty to deliver a given currency on a given value date is automatically amalgamated with all other obligations for the same currency and value date, legally substituting one single amount for the previous gross obligations. b) Banks may also net transactions subject to ...