Inflation and Real Estate Investments
... also differ, a topic that will be investigated empirically later in the paper. Another conceptual issue, which we briefly consider here relates to the debt structure of real estate investments. It is plausible to assume that, if an asset were financed with long-term fixed-rate debt, higher inflation ...
... also differ, a topic that will be investigated empirically later in the paper. Another conceptual issue, which we briefly consider here relates to the debt structure of real estate investments. It is plausible to assume that, if an asset were financed with long-term fixed-rate debt, higher inflation ...
Lies, Damned Lies and the 2015 Intergenerational Report
... and demographic outlook and the challenges that they present. This illustration of the long-term consequences of current and potential fiscal decisions can help inform the public debate on critical issues such as sustainability of the superannuation and tax systems, fiscal policy, and intergeneratio ...
... and demographic outlook and the challenges that they present. This illustration of the long-term consequences of current and potential fiscal decisions can help inform the public debate on critical issues such as sustainability of the superannuation and tax systems, fiscal policy, and intergeneratio ...
Direct Investing in Private Equity
... investments can be shared, thereby enhancing investors’ returns. The second explanation highlights the information advantages of financial intermediaries. Notably, Leland and Pyle (1977) argue that intermediaries invest in assets where they have special knowledge, while Diamond (1984) suggests that ...
... investments can be shared, thereby enhancing investors’ returns. The second explanation highlights the information advantages of financial intermediaries. Notably, Leland and Pyle (1977) argue that intermediaries invest in assets where they have special knowledge, while Diamond (1984) suggests that ...
PDF Basics of Fannie Mae Single
... loans and the issuance of MBS. Fannie Mae issues MBS and typically assumes the default risk on the mortgages underlying the security, while guaranteeing to an MBS trust that Fannie Mae will supplement amounts received by the MBS trust as required to permit timely payments of principal and interest o ...
... loans and the issuance of MBS. Fannie Mae issues MBS and typically assumes the default risk on the mortgages underlying the security, while guaranteeing to an MBS trust that Fannie Mae will supplement amounts received by the MBS trust as required to permit timely payments of principal and interest o ...
Equilibrium interest rate and liquidity premium under
... a decreasing stream of lal)or income over their lifetimes. In addition they can invest in long-term assets ...
... a decreasing stream of lal)or income over their lifetimes. In addition they can invest in long-term assets ...
Download File
... attempt to improve its position by partnering with a single large advertising mailer places at risk at least $1 billion of newspaper durable and semi-durable goods insert advertising. In addition to substantial and long-lasting market disruption, the NSA will damage the Postal Service’s own interest ...
... attempt to improve its position by partnering with a single large advertising mailer places at risk at least $1 billion of newspaper durable and semi-durable goods insert advertising. In addition to substantial and long-lasting market disruption, the NSA will damage the Postal Service’s own interest ...
Medicaid’s Soaring Cost Time to Step on the Brakes Executive Summary
... Social Security and Medicare the main sources of long-term budgetary concern.1 But Medicaid, as projected under current policies, will also impose tremendous additional pressures on federal and state budgets. Allowing Medicaid spending to grow as in the past would either significantly crowd out spen ...
... Social Security and Medicare the main sources of long-term budgetary concern.1 But Medicaid, as projected under current policies, will also impose tremendous additional pressures on federal and state budgets. Allowing Medicaid spending to grow as in the past would either significantly crowd out spen ...
LIBBEY INC - cloudfront.net
... product categories that include glass as a component such as candles, decorated beverageware and floral applications. This initiative extends beyond our global presence as a supplier of glassware that is decorated for promotions and our Latin American role as an OEM supplier to U.S. appliance manufa ...
... product categories that include glass as a component such as candles, decorated beverageware and floral applications. This initiative extends beyond our global presence as a supplier of glassware that is decorated for promotions and our Latin American role as an OEM supplier to U.S. appliance manufa ...
pdf
... As a result of the strategic steps we have taken since the global recession, Ontario offers a competitive tax environment for businesses, a highly skilled workforce and world‐class research institutions. Investors from around the world continue to view Ontario as one of the most attractive place ...
... As a result of the strategic steps we have taken since the global recession, Ontario offers a competitive tax environment for businesses, a highly skilled workforce and world‐class research institutions. Investors from around the world continue to view Ontario as one of the most attractive place ...
tactical timing of low volatility equity strategies
... the low volatility strategy was still above 9%. Moreover, in terms of risk-adjusted returns as measured by the Sharpe Ratio the two were even closer (0.09 difference). Though the expectation of interest rates increasing further might be widespread, generally central banks have indicated that this wi ...
... the low volatility strategy was still above 9%. Moreover, in terms of risk-adjusted returns as measured by the Sharpe Ratio the two were even closer (0.09 difference). Though the expectation of interest rates increasing further might be widespread, generally central banks have indicated that this wi ...
NBER WORKING PAPER SERIES Sergey Iskoz Jiang Wang
... to determine, but is always positive.5 Short of being arbitrage profits, money manager’s returns are difficult to value. The main difficulty comes from the risky nature of these returns. The traditional approach relies on a specific risk model to overcome this difficulty. But it has long been recognized tha ...
... to determine, but is always positive.5 Short of being arbitrage profits, money manager’s returns are difficult to value. The main difficulty comes from the risky nature of these returns. The traditional approach relies on a specific risk model to overcome this difficulty. But it has long been recognized tha ...
June 2014 | No. 90 A TAYLOR RULE FOR FISCAL POLICY IN A
... actual monetary policy.1 As an example, Taylor [2007] used such a comparison to argue that interest rates in the US were ’too low for too long’in the pre-crisis years. In the case of Denmark, however, given the …xed exchange rate, monetary policy can not be conducted through a Taylorrule. Instead, ...
... actual monetary policy.1 As an example, Taylor [2007] used such a comparison to argue that interest rates in the US were ’too low for too long’in the pre-crisis years. In the case of Denmark, however, given the …xed exchange rate, monetary policy can not be conducted through a Taylorrule. Instead, ...
RPM by the Numbers
... years, a record shared by less than 50 companies out of 19,000 publicly traded U.S. businesses, according to the Mergent Handbook of Dividend Achievers. Fiscal 2014 was our fifth consecutive year of double‑digit growth in net income, excluding one‑time charges in prior years. Considering that the un ...
... years, a record shared by less than 50 companies out of 19,000 publicly traded U.S. businesses, according to the Mergent Handbook of Dividend Achievers. Fiscal 2014 was our fifth consecutive year of double‑digit growth in net income, excluding one‑time charges in prior years. Considering that the un ...
The Leverage Effect on Stock Returns-EFMA
... competitive industries returns will be lower due to pressures from competition. In those industries higher tax rates will further lower the cash flows and returns. However tax shields are still important as sources of additional cash flows. Therefore we would expect corporate taxes to increase the ...
... competitive industries returns will be lower due to pressures from competition. In those industries higher tax rates will further lower the cash flows and returns. However tax shields are still important as sources of additional cash flows. Therefore we would expect corporate taxes to increase the ...
Essays on Trading Strategies and Long Memory
... submitted and approved for the award of a degree by this or any other University. Signature: ...
... submitted and approved for the award of a degree by this or any other University. Signature: ...
UK Equities for income and total return
... Source: Morningstar Workstation, as at 31 March 2017. Basis: Bid-Bid net income reinvested at UK basic rate of tax in GBP. Each bar represents the maximum drawdown since launch of Fidelity Enhanced Income. i.e. largest peak to trough based on month end performance. Source: Morningstar Direct. Basis: ...
... Source: Morningstar Workstation, as at 31 March 2017. Basis: Bid-Bid net income reinvested at UK basic rate of tax in GBP. Each bar represents the maximum drawdown since launch of Fidelity Enhanced Income. i.e. largest peak to trough based on month end performance. Source: Morningstar Direct. Basis: ...
Implied Expected Returns and the Choice of a Mean–Variance
... provides a better insight in the conclusion of Lee [2011] that, if risk-based allocation approaches outperform the market portfolio, it must be that the implied expected returns are a better set of return forecasts than the market’s implied expected returns. The analysis is done for a sample of larg ...
... provides a better insight in the conclusion of Lee [2011] that, if risk-based allocation approaches outperform the market portfolio, it must be that the implied expected returns are a better set of return forecasts than the market’s implied expected returns. The analysis is done for a sample of larg ...
Expected Returns on Major Asset Classes
... one could calculate such a premium by subtracting the bond yield from the DDM-based expected return on stocks. According to this way of thinking, the equity risk premium is an artifact, a derived quantity that depends on the time and place for which it is being estimated. Other premia, or difference ...
... one could calculate such a premium by subtracting the bond yield from the DDM-based expected return on stocks. According to this way of thinking, the equity risk premium is an artifact, a derived quantity that depends on the time and place for which it is being estimated. Other premia, or difference ...
This PDF is a selection from an out-of-print volume from... of Economic Research Volume Title: Fiscal Institutions and Fiscal Performance
... to use the deficit as a tool for smoothing consumption. For example, governments that during recessions provide many public services and distribute transfers generously, but tax moderately, may find it hard to reverse this pattern in booms due to institutional rigidities or political pressure. It is ...
... to use the deficit as a tool for smoothing consumption. For example, governments that during recessions provide many public services and distribute transfers generously, but tax moderately, may find it hard to reverse this pattern in booms due to institutional rigidities or political pressure. It is ...
The fiscal space in emerging market economies
... limit is not defined, which means that the paths of the debt ratio are explosive. Other authors such as Zandi et al (2011), Fournier and Fall (2015) and Pommier (2015) have used this methodology to estimate the debt limit for other samples of advanced economies. In the second approach, a threshold o ...
... limit is not defined, which means that the paths of the debt ratio are explosive. Other authors such as Zandi et al (2011), Fournier and Fall (2015) and Pommier (2015) have used this methodology to estimate the debt limit for other samples of advanced economies. In the second approach, a threshold o ...
2014 IBM Annual Report 2 0 14 IB M A n n u a l R e p o rt
... is extending the expertise of leading professionals — wealth managers, researchers, retailers and more — to their peers around the world. For example, doctors at Bumrungrad International Hospital in Bangkok treat 1.1 million patients from 190 countries each year, and will be using IBM Watson for Onc ...
... is extending the expertise of leading professionals — wealth managers, researchers, retailers and more — to their peers around the world. For example, doctors at Bumrungrad International Hospital in Bangkok treat 1.1 million patients from 190 countries each year, and will be using IBM Watson for Onc ...
EQUIFAX INC
... Online Information Solutions. Online Information Solutions’ products are derived from multiple large and comprehensive databases of consumer and commercial information that we maintain about individual consumers and businesses, including credit history, current credit status, payment history and ad ...
... Online Information Solutions. Online Information Solutions’ products are derived from multiple large and comprehensive databases of consumer and commercial information that we maintain about individual consumers and businesses, including credit history, current credit status, payment history and ad ...
DIME COMMUNITY BANCSHARES INC
... and placed them in a suspense account for release and allocation to participants' accounts in annual installments. As of March 30, 2015, 2,244,304 shares held by the ESOP Trust were allocated. The terms of the ESOP provide that, subject to the ESOP Trustee's fiduciary responsibilities under the Empl ...
... and placed them in a suspense account for release and allocation to participants' accounts in annual installments. As of March 30, 2015, 2,244,304 shares held by the ESOP Trust were allocated. The terms of the ESOP provide that, subject to the ESOP Trustee's fiduciary responsibilities under the Empl ...
Financial reporting developments: Asset Retirement Obligations
... at the time the obligation is incurred (provided that a reasonable estimate of fair value can be made). For example, certain obligations, such as nuclear decommissioning costs, generally are incurred as the asset is operated. Other obligations, like the obligation to remove an offshore drilling plat ...
... at the time the obligation is incurred (provided that a reasonable estimate of fair value can be made). For example, certain obligations, such as nuclear decommissioning costs, generally are incurred as the asset is operated. Other obligations, like the obligation to remove an offshore drilling plat ...