Pensions in Crisis: Europe and Central Asia Regional
... Most countries in this region have a “first pillar” or “unfunded pension system,” where contributions paid by current workers finance pensions for current retirees, and pensions for today’s workers will be paid by contributions from future workers. This system is typically called a Pay As You Go (PA ...
... Most countries in this region have a “first pillar” or “unfunded pension system,” where contributions paid by current workers finance pensions for current retirees, and pensions for today’s workers will be paid by contributions from future workers. This system is typically called a Pay As You Go (PA ...
Inflation-Indexed Securities: Description and Market Experience
... inflation) and the “nominal” (not adjusted) dollar values of a particular basket of goods and services. Even if the quality and quantity of goods and services remain the same (that is, the real value of the basket stays the same), inflation causes the total amount of dollars needed to buy the same b ...
... inflation) and the “nominal” (not adjusted) dollar values of a particular basket of goods and services. Even if the quality and quantity of goods and services remain the same (that is, the real value of the basket stays the same), inflation causes the total amount of dollars needed to buy the same b ...
Firm Life Cycle and Corporate Financing Choices
... There is ongoing debate about the empirical performance of the pecking order theory of financing proposed by Myers (1984) and Myers and Majluf (1984). The theory is based on asymmetric information between the firm’s investors and its managers. Due to the valuation discount that less-informed investo ...
... There is ongoing debate about the empirical performance of the pecking order theory of financing proposed by Myers (1984) and Myers and Majluf (1984). The theory is based on asymmetric information between the firm’s investors and its managers. Due to the valuation discount that less-informed investo ...
SAN DIEGO CITY EMPLOYEES` RETIREMENT SYSTEM
... In 2012, the City’s plan was closed for all new members except sworn police officers as a result of the voterapproved Proposition B. SDCERS works with its actuarial and investment consultants to review system risk and to determine if any modifications to the risk profile of the portfolio are needed ...
... In 2012, the City’s plan was closed for all new members except sworn police officers as a result of the voterapproved Proposition B. SDCERS works with its actuarial and investment consultants to review system risk and to determine if any modifications to the risk profile of the portfolio are needed ...
Word
... of part-time employment. Nonfinancial corporations – composing nearly two thirds of value added as well as investment in the Czech economy and providing jobs nearly to three fifths of employed persons – developed between years 2010-2012 more favourably than other institutional sectors of the CR ec ...
... of part-time employment. Nonfinancial corporations – composing nearly two thirds of value added as well as investment in the Czech economy and providing jobs nearly to three fifths of employed persons – developed between years 2010-2012 more favourably than other institutional sectors of the CR ec ...
Phase I Report - Task Force on Climate
... In most G20 jurisdictions, issuers have a legal obligation to disclose any material risk in their financial reports—which includes climate-related risks. The absence of a standardized framework for disclosing climate-related risks makes it difficult for preparers to determine what information should ...
... In most G20 jurisdictions, issuers have a legal obligation to disclose any material risk in their financial reports—which includes climate-related risks. The absence of a standardized framework for disclosing climate-related risks makes it difficult for preparers to determine what information should ...
The effect of capital market characteristics on the value
... boom and bust of the Internet correspond to an increase and decrease, respectively, in the perceived return to venture capital investments. We also examine the equilibrium effects of changes in entry costs and capital market transparency. Such changes affect outside options either directly or via th ...
... boom and bust of the Internet correspond to an increase and decrease, respectively, in the perceived return to venture capital investments. We also examine the equilibrium effects of changes in entry costs and capital market transparency. Such changes affect outside options either directly or via th ...
Monetary Policy Statement Contents
... period, and so on. Moreover, it is recognised that even if the 2:1 ratio is reasonable on average, the correct ratio may well vary over the course of a business cycle. Concerns have been expressed that the use of the TWI measure of the exchange rate in the MCI may be misleading insofar as it does no ...
... period, and so on. Moreover, it is recognised that even if the 2:1 ratio is reasonable on average, the correct ratio may well vary over the course of a business cycle. Concerns have been expressed that the use of the TWI measure of the exchange rate in the MCI may be misleading insofar as it does no ...
OSHKOSH CORP (Form: 10-K, Received: 11/22
... Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to su ...
... Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to su ...
Joint Dynamics of House Prices and Foreclosures
... long term features of the US housing market such as average default rate, wealth-to-income ratio, average moving rate of homeowners, and average homeownership rate. As our first exercise, we feed the economy with an unexpected and permanent interest rate shock where the risk-free interest rate incr ...
... long term features of the US housing market such as average default rate, wealth-to-income ratio, average moving rate of homeowners, and average homeownership rate. As our first exercise, we feed the economy with an unexpected and permanent interest rate shock where the risk-free interest rate incr ...
Certainty Equivalents and Risk-Adjusted Discount Rates
... should be used for “average” projects—that is, for projects that have the same risk as the firm’s existing assets. Lower rates should be used for less risky projects, and higher rates should be used for riskier projects. To facilitate the decision process, corporate headquarters generally prescribes ...
... should be used for “average” projects—that is, for projects that have the same risk as the firm’s existing assets. Lower rates should be used for less risky projects, and higher rates should be used for riskier projects. To facilitate the decision process, corporate headquarters generally prescribes ...
Rebalancing the housing and mortgage markets – critical issues
... report setting out its primary concerns and suggesting how government and industry might structure the dialogue. IMLA recognises the considerable contributions government is now making in terms of support to the housing and mortgage markets. The question now is building the longer term strategy that ...
... report setting out its primary concerns and suggesting how government and industry might structure the dialogue. IMLA recognises the considerable contributions government is now making in terms of support to the housing and mortgage markets. The question now is building the longer term strategy that ...
Impact of Dividend Policy on Market Capitalization of Firms Listed in
... firms’ dividend policy on its market capitalization. For this purpose 10 years data beginning from 2005 to 2014 of companies listed in automobile assembler sector of Karachi stock exchange was gathered. Sample size of the study was determined by randomly selecting five companies from the respective ...
... firms’ dividend policy on its market capitalization. For this purpose 10 years data beginning from 2005 to 2014 of companies listed in automobile assembler sector of Karachi stock exchange was gathered. Sample size of the study was determined by randomly selecting five companies from the respective ...
test reasonableness - LifeCycle Returns, Inc.
... consistent rate. The Gordon Growth Model11 represents one commonly accepted Capitalization Model, a single-state discounted economic income method.12 Theoretically, both the capitalization and the multi period discount models should return the same value. Often, however, obtaining a reliable estima ...
... consistent rate. The Gordon Growth Model11 represents one commonly accepted Capitalization Model, a single-state discounted economic income method.12 Theoretically, both the capitalization and the multi period discount models should return the same value. Often, however, obtaining a reliable estima ...
Pason Systems Inc PSI
... responsible for overseeing the methodology that supports the quantitative equity ratings used in this report. As an employee of Morningstar, Inc., Mr. Davidson is guided by Morningstar, Inc.’s Code of Ethics and Personal Securities Trading Policy in carrying out his responsibilities. Quantitative Eq ...
... responsible for overseeing the methodology that supports the quantitative equity ratings used in this report. As an employee of Morningstar, Inc., Mr. Davidson is guided by Morningstar, Inc.’s Code of Ethics and Personal Securities Trading Policy in carrying out his responsibilities. Quantitative Eq ...
Information Regarding Optional Dividend
... in a custody account with a bank or stockbroker, then the bank or stockbroker in question generally reports the dividend in shares, unless you choose differently. Payment of the dividend on the common shares and delivery of new common shares, with settlement of fractions in cash, if required, will t ...
... in a custody account with a bank or stockbroker, then the bank or stockbroker in question generally reports the dividend in shares, unless you choose differently. Payment of the dividend on the common shares and delivery of new common shares, with settlement of fractions in cash, if required, will t ...
Dividends and Interest Rate Sensitivity
... better downside protection and reduced volatility. The portfolio is naturally geared towards dividend growth – instead of dividend yield -- where the certainty and visibility of cash flows is paramount. Dividend bearing securities have been the target of much discussion, but as we are all aware not ...
... better downside protection and reduced volatility. The portfolio is naturally geared towards dividend growth – instead of dividend yield -- where the certainty and visibility of cash flows is paramount. Dividend bearing securities have been the target of much discussion, but as we are all aware not ...
Understanding the Profitability of Pairs Trading
... We hypothesize that uninformed trading shocks help explain the returns of relative value trading strategies. As in traditional asset pricing models, assume that stock returns are determined by loadings on risk factors plus an idiosyncratic component. Given a long enough observation period, two stock ...
... We hypothesize that uninformed trading shocks help explain the returns of relative value trading strategies. As in traditional asset pricing models, assume that stock returns are determined by loadings on risk factors plus an idiosyncratic component. Given a long enough observation period, two stock ...
Max`s Group Inc MAXS
... responsible for overseeing the methodology that supports the quantitative equity ratings used in this report. As an employee of Morningstar, Inc., Mr. Davidson is guided by Morningstar, Inc.’s Code of Ethics and Personal Securities Trading Policy in carrying out his responsibilities. Quantitative Eq ...
... responsible for overseeing the methodology that supports the quantitative equity ratings used in this report. As an employee of Morningstar, Inc., Mr. Davidson is guided by Morningstar, Inc.’s Code of Ethics and Personal Securities Trading Policy in carrying out his responsibilities. Quantitative Eq ...
Slovenian Industrial Policy (SIP)
... In order to maintain and improve economic competitiveness in this period of financial and economic crisis, which has hit Slovenia harder than most other European Union member states, it is important to strengthen the healthy core, represented by industry as the generator of innovation, growth and jo ...
... In order to maintain and improve economic competitiveness in this period of financial and economic crisis, which has hit Slovenia harder than most other European Union member states, it is important to strengthen the healthy core, represented by industry as the generator of innovation, growth and jo ...
Financialization
Financialization is a term sometimes used in discussions of the financial capitalism that has developed over the decades between 1980 and 2010, in which financial leverage tended to override capital (equity), and financial markets tended to dominate over the traditional industrial economy and agricultural economics.Financialization describes an economic system or process that attempts to reduce all value that is exchanged (whether tangible or intangible, future or present promises, etc.) into a financial instrument. The intent of financialization is to be able to reduce any work product or service to an exchangeable financial instrument, like currency, and thus make it easier for people to trade these financial instruments.Workers, through a financial instrument such as a mortgage, may trade their promise of future work or wages for a home. The financialization of risk sharing is what makes possible all insurance. The financialization of a government's promises (e.g., US government bonds) is what makes possible all government deficit spending. Financialization also makes economic rents possible.