Fedspeak: Does It Matter How Central Bankers Explain Themselves?
... currencies, but rather the level of short-term interest rates that are anticipated over coming months and even years. More recently, the Fed has increased the degree to which it directly purchases longer-term assets, with a view to exerting more direct influence over longer-term interest rates. But ...
... currencies, but rather the level of short-term interest rates that are anticipated over coming months and even years. More recently, the Fed has increased the degree to which it directly purchases longer-term assets, with a view to exerting more direct influence over longer-term interest rates. But ...
Consolidated Financial Statements
... Our responsibility is to express an opinion on these consolidated financial statements based on our audits. We conducted our audits in accordance with Canadian generally accepted auditing standards. Those standards require that we comply with ethical requirements and plan and perform the audit to ob ...
... Our responsibility is to express an opinion on these consolidated financial statements based on our audits. We conducted our audits in accordance with Canadian generally accepted auditing standards. Those standards require that we comply with ethical requirements and plan and perform the audit to ob ...
Counterparty A
... To invest a maturity greater than the investor’s horizon, but then to hedge the interest rate risk in futures, forwards, or other derivatives. ...
... To invest a maturity greater than the investor’s horizon, but then to hedge the interest rate risk in futures, forwards, or other derivatives. ...
CHAPTER 24: PORTFOLIO PERFORMANCE EVALUATION
... inferior to the index. Another way to think about this conclusion is to note that, even for a portfolio with a positive alpha, if its diversifiable risk is sufficiently large, thereby reducing the correlation with the market index, this can result in a lower Sharpe ratio. ...
... inferior to the index. Another way to think about this conclusion is to note that, even for a portfolio with a positive alpha, if its diversifiable risk is sufficiently large, thereby reducing the correlation with the market index, this can result in a lower Sharpe ratio. ...
Toromont Announces Fourth Quarter 2013 Results
... Equipment Group continued to increase its revenues and earnings through strength in product support, introduction of broader product lines and capitalizing on large project opportunities. CIMCO business operations achieved best-ever project and product support revenues for 2013. Revenues and earning ...
... Equipment Group continued to increase its revenues and earnings through strength in product support, introduction of broader product lines and capitalizing on large project opportunities. CIMCO business operations achieved best-ever project and product support revenues for 2013. Revenues and earning ...
spd04 Sturm 225562 en
... reduction of the general government budget. However, revenues soon turned out to be lower than assumed and various revenue boosting measures were taken; both factors resulted in a public sector borrowing requirement of over percent of GDP. Disaccord on the allocation of unavoidable spending cuts bro ...
... reduction of the general government budget. However, revenues soon turned out to be lower than assumed and various revenue boosting measures were taken; both factors resulted in a public sector borrowing requirement of over percent of GDP. Disaccord on the allocation of unavoidable spending cuts bro ...
Uncertainty, Default and Risk
... What happens if we still have perfect markets, but we don’t have perfect forecasts and thus have plenty of uncertainty? ...
... What happens if we still have perfect markets, but we don’t have perfect forecasts and thus have plenty of uncertainty? ...
Required return Answer: c Diff: M
... Karen and her twin sister, Kathy, are celebrating their 30th birthday today. Karen has been saving for her retirement ever since their 25th birthday. On their 25th birthday, she made a $5,000 contribution to her retirement account. Every year thereafter on their birthday, she has added another $5,00 ...
... Karen and her twin sister, Kathy, are celebrating their 30th birthday today. Karen has been saving for her retirement ever since their 25th birthday. On their 25th birthday, she made a $5,000 contribution to her retirement account. Every year thereafter on their birthday, she has added another $5,00 ...
5.ThieuHutNSNN
... budget deficit places upward pressure on real interest rates. This retards private investment and Aggregate Demand. In an open economy, high interest rates attract foreign capital. As foreigners buy more dollars to buy U.S. bonds and other financial assets, the dollar appreciates. The apprec ...
... budget deficit places upward pressure on real interest rates. This retards private investment and Aggregate Demand. In an open economy, high interest rates attract foreign capital. As foreigners buy more dollars to buy U.S. bonds and other financial assets, the dollar appreciates. The apprec ...
Slides 1
... Portfolio allocations: risk-averse investors trade off tax advantages v. diversification benefits → Hypothesis: US investors switch towards T after JGTRRA Equity prices: depend on the global average of investors’ dividend tax rates, weighted by wealth → equity price effect of JGTRRA depends on t ...
... Portfolio allocations: risk-averse investors trade off tax advantages v. diversification benefits → Hypothesis: US investors switch towards T after JGTRRA Equity prices: depend on the global average of investors’ dividend tax rates, weighted by wealth → equity price effect of JGTRRA depends on t ...
Economic Development and the Role of Currency Undervaluation Surjit S. Bhalla
... “historical” evolution of per capita income in poor developing economies (Bhalla 2008b). As such economies grow, the share of the low valueadded agriculture sector declines, leading to at first a sharp improvement in average income (as the share of agriculture declines from around 50 percent to arou ...
... “historical” evolution of per capita income in poor developing economies (Bhalla 2008b). As such economies grow, the share of the low valueadded agriculture sector declines, leading to at first a sharp improvement in average income (as the share of agriculture declines from around 50 percent to arou ...
The Macroeconomics of Job
... This paper develops a theoretical macro-economic model that links social infrastructure investment, taxation, and wages to income determination and job creation. The framework incorporates productivity effects, a fiscal budget constraint, and the public good nature of social infrastructure investmen ...
... This paper develops a theoretical macro-economic model that links social infrastructure investment, taxation, and wages to income determination and job creation. The framework incorporates productivity effects, a fiscal budget constraint, and the public good nature of social infrastructure investmen ...
Macroeconomic Imbalances. Country Report – Germany 2015
... backlog in infrastructure, education and research. No measures were taken to improve the efficiency of the tax system or reduce high taxes and social contributions. The potential of the general minimum wage to foster private consumption may be limited. As regards recommendations to address other pol ...
... backlog in infrastructure, education and research. No measures were taken to improve the efficiency of the tax system or reduce high taxes and social contributions. The potential of the general minimum wage to foster private consumption may be limited. As regards recommendations to address other pol ...
Offshoring Knowledge Worker Jobs
... Typical of any job market, the current stocks of jobs are affected by the ‘annual job creation rate,’ which is influenced by various factors such as ‘interest rate,’ ‘new investment,’ and ‘automation rate.’ Similarly, the jobs are also affected by the ‘offshoring rate’ and ‘automation rate.’ The aut ...
... Typical of any job market, the current stocks of jobs are affected by the ‘annual job creation rate,’ which is influenced by various factors such as ‘interest rate,’ ‘new investment,’ and ‘automation rate.’ Similarly, the jobs are also affected by the ‘offshoring rate’ and ‘automation rate.’ The aut ...
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... is expected to rise by only 1.4 perSource: Bank of Greece, Annual Reports (2002, 2005 and 2010); own calculations. centage points until 2035 (in contrast to the 7.7 percentage points for pensions alone); the policy wage bill increased by 33 percent. The growth in pubreforms of the pension system ado ...
... is expected to rise by only 1.4 perSource: Bank of Greece, Annual Reports (2002, 2005 and 2010); own calculations. centage points until 2035 (in contrast to the 7.7 percentage points for pensions alone); the policy wage bill increased by 33 percent. The growth in pubreforms of the pension system ado ...
FM11 Ch 04 Mini
... The standard deviation gets smaller as more stocks are combined in the portfolio, while rp (the portfolio’s return) remains constant. Thus, by adding stocks to your portfolio, which initially started as a 1-stock portfolio, risk has been reduced. In the real world, stocks are positively correlated w ...
... The standard deviation gets smaller as more stocks are combined in the portfolio, while rp (the portfolio’s return) remains constant. Thus, by adding stocks to your portfolio, which initially started as a 1-stock portfolio, risk has been reduced. In the real world, stocks are positively correlated w ...
analysis of revenue and expenditure
... $2.3 billion will be for the Wage Credit Scheme and $450 million for the Productivity and Innovation Credit (PIC) Bonus. We will also be providing a further $1.5 billion to businesses through the PIC cash payout. To help employers manage the labour cost increases due to CPF changes, we will provide ...
... $2.3 billion will be for the Wage Credit Scheme and $450 million for the Productivity and Innovation Credit (PIC) Bonus. We will also be providing a further $1.5 billion to businesses through the PIC cash payout. To help employers manage the labour cost increases due to CPF changes, we will provide ...
CHAPTER OVERVIEW
... policy) is likely to move the attached object to its desired destination, pushing on a string is not. ...
... policy) is likely to move the attached object to its desired destination, pushing on a string is not. ...
Chapter 4 "Foreign Exchange Markets and Rates of Return"
... The foreign exchange market (Forex) is not a market like the New York Stock Exchange, where daily trades of stock are conducted in a central location. Instead, the Forex refers to the activities of major international banks that engage in currency trading. These banks act as intermediaries between t ...
... The foreign exchange market (Forex) is not a market like the New York Stock Exchange, where daily trades of stock are conducted in a central location. Instead, the Forex refers to the activities of major international banks that engage in currency trading. These banks act as intermediaries between t ...
Chapter 13
... Possible Offsets to Fiscal Policy Planning for the future: The Ricardian equivalence theorem – The reason for the offset • People anticipate that a larger deficit today will mean higher taxes in the future and adjust their spending accordingly ...
... Possible Offsets to Fiscal Policy Planning for the future: The Ricardian equivalence theorem – The reason for the offset • People anticipate that a larger deficit today will mean higher taxes in the future and adjust their spending accordingly ...
Development Economics
... - if too large for individual private investors - if positive externalities (public goods: no exclusion from consumption possible and marginal costs near zero (non-rivalry); example lighthouse) - if generation of economic resources > costs - if greater return than all of the other available options ...
... - if too large for individual private investors - if positive externalities (public goods: no exclusion from consumption possible and marginal costs near zero (non-rivalry); example lighthouse) - if generation of economic resources > costs - if greater return than all of the other available options ...
Metro Manila Real Estate Midyear Report | 1H 2013
... boosted by the BPO sector and the solid performance of the country’s economy. The low vacancy rates demonstrate the strong demand for office space within the central business districts. There seems to be no shortage of tenants ready to pay prime rent for high-quality small and medium offices in the ...
... boosted by the BPO sector and the solid performance of the country’s economy. The low vacancy rates demonstrate the strong demand for office space within the central business districts. There seems to be no shortage of tenants ready to pay prime rent for high-quality small and medium offices in the ...
Chapter 1
... Possible Offsets to Fiscal Policy Planning for the future: The Ricardian equivalence theorem – The reason for the offset • People anticipate that a larger deficit today will mean higher taxes in the future and adjust their spending accordingly ...
... Possible Offsets to Fiscal Policy Planning for the future: The Ricardian equivalence theorem – The reason for the offset • People anticipate that a larger deficit today will mean higher taxes in the future and adjust their spending accordingly ...