Post Laspeyres
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Post Laspeyres
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Author : Mr.Paul A. Armknecht
language : en
Publisher: International Monetary Fund
Release Date : 2012-04-01
Post Laspeyres written by Mr.Paul A. Armknecht and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-04-01 with Business & Economics categories.
Consumer price indexes (CPIs) are compiled at the higher (weighted) level using Laspeyres-type arithmetic averages. This paper questions the suitability of such formulas and considers two counterpart alternatives that use geometric averaging, the Geometric Young and the (price-updated) Geometric Lowe. The paper provides a formal decomposition and understanding of the differences between the two. Empirical results are provided using United States CPI data. The findings lead to an advocacy of variants of a hybrid formula suggested by Lent and Dorfman (2009) that substantially reduces bias from Laspeyres-type indexes.
Smart Beta
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Author : Romedius Troberg
language : en
Publisher: Anchor Academic Publishing (aap_verlag)
Release Date : 2015-03-25
Smart Beta written by Romedius Troberg and has been published by Anchor Academic Publishing (aap_verlag) this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-03-25 with Business & Economics categories.
In economics, each and every rational decision made is supposed to maximize individual utility. This approach especially applies to the investor in financial goods. In accordance with neoclassical utility optimization, the individual investors are supposed to be willing to exchange investment good in order to maximize their expected future return. This approach anticipates every individual investor to try and estimate the future cash flows of the investment in order to evaluate its current value. Hence, trades at every stock exchange are to be executed at all times where you have two investors differing in their estimation of the intrinsic value of an investment product. As a consequence, every investor is supposed to create a portfolio with assets that in turn maximize his/her expected return. Every investor is supposed to make an individual and rational attempt to maximize his/her utility and to behave in a risk-averse manner. However, according to the neoclassical theory, it is not possible to gain more from an investment than the market does, as long as markets are efficient. Financial markets can be seen as the most efficient markets, if not the only efficient markets in real economy, as, in the market context, information is transferred the fastest and prices are thus adopted nearly instantly. Nevertheless, all investors at the stock exchanges try to make money by using their individual knowledge in order to gain something from investing in some assets. They have of course, at the same time, the possibility to follow the market themselves or to try to bet against the market. Every investor hence always faces the question of whether to trade on the market with his/her own individual knowledge in order to gain some additional utility, or to simply attempt to do the same as the whole market and follow the belief of the market at a whole. The question thus arises of what exactly efficient fund management looks like. This paper will discuss several possibilities which arise in literature and in the real economy when thinking about fund management, and will discuss the rather new concept of “Smart Beta” investments, in particular. The focus of this paper thus lies in the question of whether smart beta concepts serve as potential superior alternatives to the classical passive investment products.
Imf Research Bulletin June 2012
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Author : International Monetary Fund. Research Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2012-06-05
Imf Research Bulletin June 2012 written by International Monetary Fund. Research Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-06-05 with Business & Economics categories.
The research summaries in the June 2012 issue of the IMF Research Bulletin are "Public Debt in Advanced Economies and Its Spillover Effects on Long-Term Yields" (by C. Emre Alper and Lorenzo Forni) and "Expansionary Fiscal Contractions: The Empirical Evidence" (by Rina Bhattacharya and Sanchita Mukherjee). The Q&A covers "Seven Questions about Income Inequality" (by Laura Feiveson). Also included in this issue are details on visiting scholars at the IMF, a listing of recently published IMF Working Papers and Staff Discussion Notes, as well as information on IMF Economic Review.
Local Government Development In Post War Japan
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Author : Michio Muramatsu
language : en
Publisher: Oxford University Press, USA
Release Date : 2001
Local Government Development In Post War Japan written by Michio Muramatsu and has been published by Oxford University Press, USA this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with Japan categories.
This book examines the evolution of intergovernmental relations in postwar Japan. These relations are shown to be both complex and dynamic, and the Japanese model is revealed as one in which aspects of both central control and local autonomy have co-existed with the balance shifting graduallyover time towards the latter. The Japanese system has helped to maintain broad-based economic growth since it has at its core a strongly egalitarian fiscal transfer mechanism. At the same time, it has proved to be consistent, to a much greater extent than previously recognized, with politicaldevelopment, or progress in the attainment of such political values as liberty (personal rights) and equality (broad participation in public affairs) for individuals and communities. This is because the national government has proved flexible enough to accommodate, although not always with grace oralacrity, citizen concerns about the quality of life. The Japanese approach to intergovernmental relationships has also been successful in solving coordination problems which often arise between local and central government units and in building capacity to support greater and effectivedecentralization. Coordination problems have been handled through a variety of mechanisms including the practice of agency delegated functions, while local capacity issues have been addressed through such practices as the exchange of personnel across different levels of government and the use ofattractive compensation and training packages to recruit and retain local staff. The Japanese experience thus provides an example of gradual and guided decentralization based on shared responsibilities between local and central governments for mobilizing, managing, and spending public resources inthe pursuit of sustainable development.
Health Care Financing Review
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Author :
language : en
Publisher:
Release Date : 1992
Health Care Financing Review written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992 with Medical care categories.
Public Enterprise Revisited
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Author : Chrisafis H. Iordanoglou
language : en
Publisher: Edward Elgar Publishing
Release Date : 2001-01-01
Public Enterprise Revisited written by Chrisafis H. Iordanoglou and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001-01-01 with Business & Economics categories.
"The book compares the 1954-79 labour productivity record of five expanding public sector industries to that of 24 expanding, capital intensive, mass-production industries in the British private sector. The author shows that the public sector industries' labour productivity growth was significantly faster than that of the private sector industries. Strikingly, he also finds that the state-owned industries were narrowing their productivity gap with their US counterparts at a significantly faster rate than the private sector industries. Dr. Iordanoglou concludes that it is possible that public ownership had - in the historical period investigated - a long-term positive effect on these industries."--BOOK JACKET.
The Administration Of International Organizations
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Author : Michael D.V. Davies
language : en
Publisher: Taylor & Francis
Release Date : 2017-07-05
The Administration Of International Organizations written by Michael D.V. Davies and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-07-05 with Political Science categories.
Drawing on his extensive practical experience as an international civil servant in a number of organizations, Davies writes in a lively and readable manner about all aspects of administrative policy and its related implications. Divided into two parts, the first - Top down - will enable policy makers in government, academia and elsewhere who have an interest in the proper governance and management of international institutions to gain fresh insight into the topic. The second part - Bottom up - provides a substantial body of knowledge of administrations, including case studies of best and worse practice. The book includes analysis of: -The UN system -International Financial Institutions -Co-ordinated Organizations -Regional European Institutions -The Consultative Group for International Agricultural Research This is a work that fills a well-defined gap in organizational knowledge in a rigorous, but accessible way. It is essential reading for both practitioners and academics involved with international organizations.
Appgcet Commerce Pdf Andhra Pradesh Post Graduate Common Entrance Test Commerce Subject Pdf Ebook
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Author : Chandresh Agrawal
language : en
Publisher: Chandresh Agrawal
Release Date : 2024-05-15
Appgcet Commerce Pdf Andhra Pradesh Post Graduate Common Entrance Test Commerce Subject Pdf Ebook written by Chandresh Agrawal and has been published by Chandresh Agrawal this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-05-15 with Business & Economics categories.
SGN.The APPGCET Commerce PDF-Andhra Pradesh Post Graduate Common Entrance Test Commerce Subject PDF eBook Covers Objective Questions From Various Competitive Exams With Answers.
Ts Cpget Pdf Telangana State Common Post Graduate Entrance Test For M Com Commerce Subject Only Pdf Ebook
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Author : Chandresh Agrawal
language : en
Publisher: Chandresh Agrawal
Release Date : 2023-05-19
Ts Cpget Pdf Telangana State Common Post Graduate Entrance Test For M Com Commerce Subject Only Pdf Ebook written by Chandresh Agrawal and has been published by Chandresh Agrawal this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-05-19 with Business & Economics categories.
SGN.The TS CPGET PDF-Telangana State Common Post Graduate Entrance Test For M.Com-Commerce Subject Only PDF eBook Covers Objective Questions From Various Competitive Exams With Answers.
A Cyclopaedia Of Works Of Architecture
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Author : William Pitt Preble Longfellow
language : en
Publisher:
Release Date : 1895
A Cyclopaedia Of Works Of Architecture written by William Pitt Preble Longfellow and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1895 with Architecture categories.