Pick your moment - Journalism.co.za
... However, it is useful to test a valuation using more optimistic assumptions. For instance, using the current 15,6 p:e, the high end of earnings and dividend growth forecasts 15%/year - and applying a discount of 12,7% (the low-end 4% risk premium plus the R150's 8,7% yield) puts the Findi's PV at 23 ...
... However, it is useful to test a valuation using more optimistic assumptions. For instance, using the current 15,6 p:e, the high end of earnings and dividend growth forecasts 15%/year - and applying a discount of 12,7% (the low-end 4% risk premium plus the R150's 8,7% yield) puts the Findi's PV at 23 ...
Fixed Income Municipal Bonds
... Municipal bonds are debt obligations issued by states, cities, counties and other governmental entities to raise money for schools, highways, hospitals and sewer systems, as well as many other public projects. There are two basic types of municipal securities: • General Obligation Bonds – Principal ...
... Municipal bonds are debt obligations issued by states, cities, counties and other governmental entities to raise money for schools, highways, hospitals and sewer systems, as well as many other public projects. There are two basic types of municipal securities: • General Obligation Bonds – Principal ...
How it`s Rigged - The Economy
... The past few years Americans have spent more money on Health Care, Food, regulations, bombs, and taxes just to name a few. I’d argue that the average American is not better off for having the cost of their: Children’s college go up, their health care costs going up, funding more bombings of brown pe ...
... The past few years Americans have spent more money on Health Care, Food, regulations, bombs, and taxes just to name a few. I’d argue that the average American is not better off for having the cost of their: Children’s college go up, their health care costs going up, funding more bombings of brown pe ...
Lecture Presentation to accompany Investment Analysis & Portfolio
... Borrowing requires fixed payments which must be paid ahead of payments to stockholders. The use of debt increases uncertainty of stockholder income and causes an increase in the stock’s risk premium. ...
... Borrowing requires fixed payments which must be paid ahead of payments to stockholders. The use of debt increases uncertainty of stockholder income and causes an increase in the stock’s risk premium. ...
PDF - Lazard Asset Management
... in developed markets. Given the importance of exports to emerging markets economic growth, a threat such as trade barriers can have an outsized impact on emerging markets. We find it notable that protectionist sentiment—note Trump’s slogan: “America First”—has risen steadily over the past several ye ...
... in developed markets. Given the importance of exports to emerging markets economic growth, a threat such as trade barriers can have an outsized impact on emerging markets. We find it notable that protectionist sentiment—note Trump’s slogan: “America First”—has risen steadily over the past several ye ...
Ready - Personal.psu.edu
... S2 c) (4 points) Now find the long run real interest rate consistent with general equilibrium. Please show all work. S2 d) (4 points) Find the new price level associated with the long run equilibrium. Please show all work Label this long run equilibrium as point C in all four of your diagrams. S2 e) ...
... S2 c) (4 points) Now find the long run real interest rate consistent with general equilibrium. Please show all work. S2 d) (4 points) Find the new price level associated with the long run equilibrium. Please show all work Label this long run equilibrium as point C in all four of your diagrams. S2 e) ...
Forum for the Free Flow of Information Organizational Launch Meeting
... GDP per capita at purchasing power parity Economic growth rates Index for legal rights of borrowers and lenders* ...
... GDP per capita at purchasing power parity Economic growth rates Index for legal rights of borrowers and lenders* ...
reserve management: sense and nonesense 190606
... why must we shortchange ourselves for the sake of having Nigerian custodians for our reserves? Furthermore, what would stop the Nigerian banks from round tripping to Nigeria the reserves which are in their custody? The collapse and demise of several industries and employment and income generating co ...
... why must we shortchange ourselves for the sake of having Nigerian custodians for our reserves? Furthermore, what would stop the Nigerian banks from round tripping to Nigeria the reserves which are in their custody? The collapse and demise of several industries and employment and income generating co ...
Chapter 1
... 3. The real interest rate is determined by the supply of and demand for loanable funds. The real interest rate will remain constant when saving and investment (plus any budget deficit/surplus) do not change. The nominal interest rate would fall as a result of any event that causes in this model a r ...
... 3. The real interest rate is determined by the supply of and demand for loanable funds. The real interest rate will remain constant when saving and investment (plus any budget deficit/surplus) do not change. The nominal interest rate would fall as a result of any event that causes in this model a r ...
Copy of cogecon-osak.. - personal homepage server for the
... – Begins with a separate sample of 1200 persons age 50+ who will receive about three hours of cognitive testing of their fluid and crystallized intelligence plus parts of the HRS questionnaire on demographics, health and cognition – Followed a month later by administration of an internet or mail sur ...
... – Begins with a separate sample of 1200 persons age 50+ who will receive about three hours of cognitive testing of their fluid and crystallized intelligence plus parts of the HRS questionnaire on demographics, health and cognition – Followed a month later by administration of an internet or mail sur ...
What if China revalues its currency?
... the economy. Real GDP grows by 9.5 per cent in 2004 above baseline (making growth 14 per cent in absolute terms). With additional growth that means output in the economy could be 20 per cent above what it otherwise would have been a decade out. With higher productivity and lower country risk there i ...
... the economy. Real GDP grows by 9.5 per cent in 2004 above baseline (making growth 14 per cent in absolute terms). With additional growth that means output in the economy could be 20 per cent above what it otherwise would have been a decade out. With higher productivity and lower country risk there i ...
Unemployed
... be less than the inflation rate, so borrowers receive “dear” money and are paying back “cheap” dollars that have less purchasing power for the lender. • If inflation is anticipated, the effects of inflation may be less severe, since wage and pension contracts may have inflation clauses built in, and ...
... be less than the inflation rate, so borrowers receive “dear” money and are paying back “cheap” dollars that have less purchasing power for the lender. • If inflation is anticipated, the effects of inflation may be less severe, since wage and pension contracts may have inflation clauses built in, and ...
II. Measurement of Economic Performance (12
... short period of time, maybe two years, real estate prices increase exponentially. Now your house, on paper, is worth $200,000, but it’s the very same house. It’s not a better house. Florida reassesses property taxes and now claims that you owe $2000 every year. Assuming your income didn’t double as ...
... short period of time, maybe two years, real estate prices increase exponentially. Now your house, on paper, is worth $200,000, but it’s the very same house. It’s not a better house. Florida reassesses property taxes and now claims that you owe $2000 every year. Assuming your income didn’t double as ...
Ch. 12: US Inflation, Unemployment and Business Cycles
... In the long run, according to equation of exchange: • inflation = %ch in M + % ch in V - %ch in y ...
... In the long run, according to equation of exchange: • inflation = %ch in M + % ch in V - %ch in y ...
13.1 money and the interest rate
... The Real Economy Real factors that are independent of the price level determine potential GDP and the natural unemployment rate. Investment demand and saving supply determine the amount of investment, the real interest rate and, along with population growth, human capital growth, and technological ...
... The Real Economy Real factors that are independent of the price level determine potential GDP and the natural unemployment rate. Investment demand and saving supply determine the amount of investment, the real interest rate and, along with population growth, human capital growth, and technological ...
E 2
... If there exists an BP surplus, the supply of foreign currencies is greater than the demand for them. Foreign currencies are likely to depreciate, while the domestic currency tends to appreciate. If there exists an BP deficit, the demand for foreign currencies is greater than the supply. Foreign cu ...
... If there exists an BP surplus, the supply of foreign currencies is greater than the demand for them. Foreign currencies are likely to depreciate, while the domestic currency tends to appreciate. If there exists an BP deficit, the demand for foreign currencies is greater than the supply. Foreign cu ...
Value of Money
... • The same applies to employment of capital and other resources. • Since employment of all resources is unchanged, total output is also unchanged by the money supply. ...
... • The same applies to employment of capital and other resources. • Since employment of all resources is unchanged, total output is also unchanged by the money supply. ...
NBER WORKING PAPER SERIES EXCHANGE RATE RULES AND MACROECONOMIC STABILITY Rudiger Dornbusch
... In Figure 1 we show the static model. The schedule LL shows combinations of real wages and real money such that the demand determined level of employment is equal to the existing labor force. •Along LL we thus have fullemployment. Above and to the left there is unemployment and below and to the righ ...
... In Figure 1 we show the static model. The schedule LL shows combinations of real wages and real money such that the demand determined level of employment is equal to the existing labor force. •Along LL we thus have fullemployment. Above and to the left there is unemployment and below and to the righ ...
Interest rate
An interest rate is the rate at which interest is paid by borrowers (debtors) for the use of money that they borrow from lenders (creditors). Specifically, the interest rate is a percentage of principal paid a certain number of times per period for all periods during the total term of the loan or credit. Interest rates are normally expressed as a percentage of the principal for a period of one year, sometimes they are expressed for different periods such as a month or a day. Different interest rates exist parallelly for the same or comparable time periods, depending on the default probability of the borrower, the residual term, the payback currency, and many more determinants of a loan or credit. For example, a company borrows capital from a bank to buy new assets for its business, and in return the lender receives rights on the new assets as collateral and interest at a predetermined interest rate for deferring the use of funds and instead lending it to the borrower.Interest-rate targets are a vital tool of monetary policy and are taken into account when dealing with variables like investment, inflation, and unemployment. The central banks of countries generally tend to reduce interest rates when they wish to increase investment and consumption in the country's economy. However, a low interest rate as a macro-economic policy can be risky and may lead to the creation of an economic bubble, in which large amounts of investments are poured into the real-estate market and stock market. In developed economies, interest-rate adjustments are thus made to keep inflation within a target range for the health of economic activities or cap the interest rate concurrently with economic growth to safeguard economic momentum.