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This set of three volumes argues that the mind – human consciousness – may be measured by considering mathematically the aggregate of that consciousness, i.e. social history. From this beginning theme of discussion three questions must arise. 1. How might this measurement be made? 2. Of what...
Persistent link: https://www.econbiz.de/10011259509
boom the potential GDP growth in Romania was around 6.5 %. The severe economic crisis that started in the last quarter of ….8 % during the steep contraction of the economy in 2009 and at 1 % in 2010, according to the model estimates. The economic crisis … well as capital accumulation negatively affected the potential output during the crisis. As regarding the crisis effects on …
Persistent link: https://www.econbiz.de/10010632126
Risk, Balanced Funds, Managed Accounts and Monte Carlo Simulation) can provide Plan Participants with nearly enough money …
Persistent link: https://www.econbiz.de/10012725738
A generalized (nonminimum or shadow) cost function is used to evaluate the response of Chinese state-owned construction enterprises to economic reforms from 1985 to 1991. Generalized cost function estimates are used to calculate the variances of the shadow factor price ratios that characterize...
Persistent link: https://www.econbiz.de/10012775188
This study investigates the cross-sectional variation in equity real estate investment trusts (EREITs) returns. A pooled cross-sectional, time-series approach is used as an alternative to the two-step Fama-MacBeth regression. With pooling, more powerful tests can be obtained from the limited...
Persistent link: https://www.econbiz.de/10012788310
Chicago Board of Trade, identifying characteristics of the international market in 2015 and perspectives for 2016. Also, the …
Persistent link: https://www.econbiz.de/10012930249
We revisit the conventional wisdom that high market P/E ratios forecast negative future stock returns. We identify a significant break in the stock return-P/E relationship at high levels of the market P/E. Starting from market P/E ratios of 21 or greater, 10-year real returns are in line with...
Persistent link: https://www.econbiz.de/10012755701
Hyman Minsky's research emphasized the central role of finance in modern economies at a time when finance was not important in most mainstream macroeconomic research. But in the 1980s, mainstream research began to explore the role of finance in firm and consumer behavior. This paper examines the...
Persistent link: https://www.econbiz.de/10012743707
Empirical evidence suggests that real exchange rates (RER) behave differently in developed and developing countries. We develop an exogenous 2-sector growth model in which RER determination depends on the country's capacity to borrow from international capital markets. The country faces a...
Persistent link: https://www.econbiz.de/10012719918
In this paper, we aim to understand residential electricity demand responses to changes in income, in order to assist policymakers in managing demand for electricity and evaluating tariff increases associated with proposed projects for increasing supply, while minimizing the impact on poverty.
Persistent link: https://www.econbiz.de/10010905694