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Open energy system models Following the optimization phase, SWITCH is used in a second phase to test the proposed investment plan against a more complete set of weather conditions and to add backstop generation capacity so that the planning reserve margin is always met. Finally, in a third phase, the costs are calculat... | https://en.wikipedia.org/wiki?curid=38803848 |
Open energy system models It is being developed by the Institute for Renewable and Sustainable Energy Systems, Technical University of Munich, Germany. The codebase is hosted on GitHub. URBS is written in Python and uses the Pyomo optimization packages. URBS classes as an energy modeling framework and attempts to minim... | https://en.wikipedia.org/wiki?curid=38803848 |
Open energy system models With the advent of emobility, other models still include aspects of the transport sector. Indeed, coupling these various sectors using power-to-X technologies is an emerging area of research. Balmorel is a market-based energy system model from Denmark. Development was originally financed by th... | https://en.wikipedia.org/wiki?curid=38803848 |
Open energy system models Given certain assumptions about the future price of oil and carbon and the uptake of hydrogen, the model shows that it is economically optimal to cover, using renewable energy, more than 95% of the primary energy consumption for electricity and district heat and 65% of the transport. A 2010 st... | https://en.wikipedia.org/wiki?curid=38803848 |
Open energy system models It can link to the open source GLPK solver and the commercial CPLEX and Gurobi solvers. PDF documentation is available. A Calliope model consists of a collection of structured text files, in YAML and CSV formats, that define the technologies, locations, and resource potentials. Calliope takes ... | https://en.wikipedia.org/wiki?curid=38803848 |
Open energy system models Up to 60% of variable renewable capacity is possible with little increase in cost, while higher shares require large-scale storage, imports, and/or dispatchable renewables such as tidal range. DESSTinEE stands for Demand for Energy Services, Supply and Transmission in EuropE. DESSTinEE is a mo... | https://en.wikipedia.org/wiki?curid=38803848 |
Open energy system models In 2050, peak loads and ramp rates rise 20–60% and system utilization falls 15–20%, in part due to the substantial uptake of heat pumps and electric vehicles. These are significant changes. The Energy Transition Model (ETM) is an interactive web-based model using a holistic description of a co... | https://en.wikipedia.org/wiki?curid=38803848 |
Open energy system models The model is demand driven, meaning that the digraph is traversed from "useful demand" (such as space heating, hot water usage, and car-kilometers) to "primary demand" (the extraction of gas, the import of coal, and so forth). EnergyPATHWAYS is a bottom-up energy sector model used to explore t... | https://en.wikipedia.org/wiki?curid=38803848 |
Open energy system models Scenarios typically run to 2050. A predecessor of the EnergyPATHWAYS software, named simply PATHWAYS, has been used to construct policy models. The California PATHWAYS model was used to inform Californian state climate targets for 2030. And the US PATHWAYS model contributed to the UN Deep Deca... | https://en.wikipedia.org/wiki?curid=38803848 |
Open energy system models Electricity and heat are both supported, as are district heating networks, household energy systems, and grid storage, including the use of plug-in hybrid electric vehicles (PHEV). ETEM-SG, a development, supports demand response, an option which would be enabled by the development of smart gr... | https://en.wikipedia.org/wiki?curid=38803848 |
Open energy system models The user can choose between the open source GLPK solver or the commercial CPLEX and Gurobi solvers. Based on URBS, ficus was originally developed for optimizing the energy systems of factories and has now been extended to include local energy systems. ficus supports multiple energy commodities... | https://en.wikipedia.org/wiki?curid=38803848 |
Open energy system models The solph library is used to represent multi-regional and multi-sectoral (electricity, heat, gas, mobility) systems and can optimize for different targets, such as financial cost or emissions. Furthermore, it is possible to switch between dispatch and investment modes. In terms of scope, oemof... | https://en.wikipedia.org/wiki?curid=38803848 |
Open energy system models It covers most energy sectors, including heat, electricity, and transport. OSeMOSYS is driven by exogenously defined energy services demands. These are then met through a set of technologies which draw on a set of resources, both characterized by their potentials and costs. These resources are... | https://en.wikipedia.org/wiki?curid=38803848 |
Open energy system models Another 2016 study uses OSeMOSYS to build a local multi-regional energy system model of the Lombardy region in Italy. One of the aims of the exercise was to encourage citizens to participate in the energy planning process. Preliminary results indicate that this was successful and that open mod... | https://en.wikipedia.org/wiki?curid=38803848 |
Open energy system models Lead by the UN Department of Economic and Social Affairs (DESA), MoManI is being trialled in selected countries. The interface can be used to construct models, visualize results, and develop better scenarios. Atlantis is the name of a fictional country case-study for training purposes. The OSe... | https://en.wikipedia.org/wiki?curid=38803848 |
Open energy system models The source code is hosted on GitHub and is also released periodically as a PyPI package. The basic functionality of PyPSA is described in a 2018 paper. PyPSA sits between traditional steady-state power flow analysis software and full multi-period energy system models. It can be invoked using e... | https://en.wikipedia.org/wiki?curid=38803848 |
Open energy system models Some research groups have independently extended the software, for instance to model integer transmission expansion. On 9January 2019, the project released an interactive web-interfaced "toy" model, using the Cbc solver, to allow the public to experiment with different future costs and technol... | https://en.wikipedia.org/wiki?curid=38803848 |
Open energy system models Statistics for the 25 open energy modeling projects listed are as follows: The GAMS language requires a proprietary environment and its significant cost effectively limits participation to those who can access an institutional copy. A number of technical component models are now also open sour... | https://en.wikipedia.org/wiki?curid=38803848 |
Equity Linked Savings Scheme Equity Linked Savings Scheme, popularly known as ELSS are close-ended, lock-in period of 3 years diversified equity schemes offered by mutual funds in India. They offer tax benefits under the new Section 80C of Income Tax Act 1961. ELSS can be invested using both SIP (Systematic Investment ... | https://en.wikipedia.org/wiki?curid=38821835 |
Female labor force in the Muslim world Female participation and advancement in majority Muslim countries, or nations in which more than 50% of the population identifies as an adherent of the Islamic faith, have traditionally been areas of controversy. Several Western nations, such as the United States and Western Europ... | https://en.wikipedia.org/wiki?curid=38847538 |
Female labor force in the Muslim world Turkey, for example, is a prominent Muslim country in which 99% of the population follows some form of Islam. However, there is no official religion. The state is secular. Nigeria is also a majority Muslim country which is officially secular. Most majority Muslim nations, however,... | https://en.wikipedia.org/wiki?curid=38847538 |
Female labor force in the Muslim world Despite a common religion, majority Muslim nations are quite disparate in terms of size, population, demographic composition, and the legal framework of religion. Table 2: Female Labor Force Participation Rate Source: Global Gender Gap Report 2012, World Economic Forum A basic ind... | https://en.wikipedia.org/wiki?curid=38847538 |
Female labor force in the Muslim world Afghanistan's female labor force participation rate, for example, was 15% in 2010 according to World Bank figures. That percentage nearly doubles to 28.9% if data from UNESCAP is cited. The same discrepancy is true for figures for Iran for which the World Bank lists its female par... | https://en.wikipedia.org/wiki?curid=38847538 |
Female labor force in the Muslim world 30) whereas Egypt's female population has twice the percentage size of formal economic workers as Syria's female labor force. These ratios are compiled and published by the World Economic Forum. The median annual income for female workers in the United States was $36,931 in 2010. ... | https://en.wikipedia.org/wiki?curid=38847538 |
Female labor force in the Muslim world Table 3: Ratio of Female-to-Male Workers Source: Global Gender Gap Report 2012, World Economic Forum Similar to the ratio of female to male workers in the labor force is the percentage of the actual labor force composed of women. This differs from the labor force participation rat... | https://en.wikipedia.org/wiki?curid=38847538 |
Female labor force in the Muslim world 87% and 38.23%, respectively. Iraq, Syria, and Turkey's labor force's female composition rates (14.30%, 15.20%, and 28.69%, respectively) are quite close to their female labor force participation rates which suggests a population parity between men and women. This is interesting a... | https://en.wikipedia.org/wiki?curid=38847538 |
Female labor force in the Muslim world While labor force participation rate sheds light on how many women work in the formal sectors of the economy, it says nothing about the type of work or the stable presence of women in the labor force. Countries such as Bangladesh and Indonesia, when female labor force participatio... | https://en.wikipedia.org/wiki?curid=38847538 |
Female labor force in the Muslim world It is unclear why several nations with few female workers have such a high percentage of salaried women. One possible explanation is that so few women are active in the labor market because the demand for female employment is restricted to a few higher-paying, low-labor-intensive ... | https://en.wikipedia.org/wiki?curid=38847538 |
Female labor force in the Muslim world According to the ILO, more than half, 53% of all female workers in Iran are self-employed. In Egypt, slightly fewer women are self-employed than are in Iran. Fifty-two percent of Egyptian female workers have their own business ventures. Bangladesh, Pakistan, and Indonesia have the... | https://en.wikipedia.org/wiki?curid=38847538 |
Female labor force in the Muslim world In Indonesia where 68% of women are self-employed and 38% of the labor force is composed of women, only 1% of these individuals are employers. One tenth of one percent of female workers in Bangladesh are employers despite the nation's sizable female labor pool. This number is one ... | https://en.wikipedia.org/wiki?curid=38847538 |
Female labor force in the Muslim world Table 4: Percentage of Female Laborers as Employer Source: International Labour Organization Unemployment rates among women in majority Muslim countries are high. When aggregated by region, North Africa, the Middle East, and Southeast Asia, the three regions with the most and high... | https://en.wikipedia.org/wiki?curid=38847538 |
Female labor force in the Muslim world Data demonstrates that a greater proportion of women are unemployed relative to men in majority Muslim countries but that trend is true of several non-Muslim majority regions as well. Structural unemployment in Muslim countries seems to be high for women and economic opportunities... | https://en.wikipedia.org/wiki?curid=38847538 |
Female labor force in the Muslim world To what extent this is true is uncertain. Table 5: Unemployment Rate Source: World Bank Turkey has a moderate level of female unemployment relative to other Muslim countries. In 2008, 11.6% of women were unemployed. By 2010, this number crept up to 13.0%. However, long-term employ... | https://en.wikipedia.org/wiki?curid=38847538 |
Female labor force in the Muslim world Services-oriented labor revolves around the provision of consumable, non-durable goods and the fulfillment of tasks by an external source for the consumer. This includes wholesale and retail trade and restaurants and hotels; transport, storage, and communications; financing, insur... | https://en.wikipedia.org/wiki?curid=38847538 |
Female labor force in the Muslim world Employment in agriculture is lower-paying and lower-skilled than so called "white collared" jobs. Agriculture is also incredibly labor-intensive. The combination of these characteristics may explain why so many women in majority Muslim countries work in agriculture. Female workers... | https://en.wikipedia.org/wiki?curid=38847538 |
Female labor force in the Muslim world For nations where data is available, Turkey, Syria, Pakistan, Iran, Indonesia, and Egypt had the highest percentage of female workers involved in agricultural labor than almost every other country. In these nations, anywhere from 20-49% of farm workers were female from 1995 to 200... | https://en.wikipedia.org/wiki?curid=38847538 |
Female labor force in the Muslim world Furthermore, if women in majority Muslim countries are funneled into agriculture and service-oriented work due to a weak skill set, then it follows that they would not be hired for industrial work as some of it, such as smelting, requires specific vocational skills. The glass ceil... | https://en.wikipedia.org/wiki?curid=38847538 |
Female labor force in the Muslim world Egypt's other largest firms by revenue, Egyptian General Petroleum Corporation, Suez Canal Authority, Orascom Construction Industries, and Telekom Egypt, do not have a single female member of their board of directors or among their senior management teams. No women occupy the top ... | https://en.wikipedia.org/wiki?curid=38847538 |
Female labor force in the Muslim world However, only Gudang Garam, a massive cigarette manufacturer, and Pertamina, the largest company in Indonesia, have 2 female members on the board of commissioners. Pertamina is owned and operated by Japanese, not Indonesian, executives, however, and none of its female leaders are ... | https://en.wikipedia.org/wiki?curid=38847538 |
Female labor force in the Muslim world In Arab countries, 82% of survey respondents believe that a man has more right to a job than a woman while 63% of respondents from the non-Arab countries felt the same way. These researchers attributed these attitudes to the strong religious identity and adherence of respondents t... | https://en.wikipedia.org/wiki?curid=38847538 |
Female labor force in the Muslim world She points at that certain views which are considered by critics of Islam to be indicative of a gender-biased theology are present in other religions. Viewing women as mothers and daughters first and foremost, for example, is also a common belief among Orthodox Jews according to M... | https://en.wikipedia.org/wiki?curid=38847538 |
Female labor force in the Muslim world According to Hosseini, theocratic Islamic regimes which conflate theocracy with democracy, such as Iran or Afghanistan under the Taliban, create a tension which reinforces fundamentalist, reactionary thinking. This in turn leads to the repression of women. She argues that it is no... | https://en.wikipedia.org/wiki?curid=38847538 |
Female labor force in the Muslim world Equal pay with men demonstrates a neutrality to gender within the workplace and may suggest functional fairness between female workers and their male counterparts. Given these two indicators, wage statistics suggest that gender equality in terms of economic participation and the q... | https://en.wikipedia.org/wiki?curid=38847538 |
Female labor force in the Muslim world Women in Pakistan don't even earn $1,000 for a year's worth of labor ($940) Egyptian, Syrian, Indonesian, Nigerian, and Bangladeshi women earn less, far less for some countries (Syria, Bangladesh, Nigeria), than $3,000 annually. The median annual income for female workers in the U... | https://en.wikipedia.org/wiki?curid=38847538 |
Female labor force in the Muslim world Furthermore, a large supply of female labor for the few jobs women do work in these various economies may be depressing wages. Low wages in absolute terms and low wages relative to men's wages in the aggregate, however, do not provide a full picture of gender economic equity. The ... | https://en.wikipedia.org/wiki?curid=38847538 |
Female labor force in the Muslim world " The index measures gender disparities in economic, political, health, and educational spheres and uses corresponding criteria. The GGGI utilizes four sub-indices to measure these four spheres of inequality and to create a composite metric of gender inequality. The four sub-indic... | https://en.wikipedia.org/wiki?curid=38847538 |
Female labor force in the Muslim world Of the 135 nations analyzed, Pakistan (134), Syria (132), and Saudi Arabia (131) are in the bottom five countries for female labor force participation and for the provision of labor opportunities for women. Table 7: Economic Participation and Opportunity Source: Global Gender Repo... | https://en.wikipedia.org/wiki?curid=38847538 |
Female labor force in the Muslim world As a consequence of this methodological construction, the GEM over estimated gender inequality in poor countries. Consequently, the GII was adopted to address these flaws and to be a true measure of inequality and not a proxy indicator. Income is not a component of the GII and the... | https://en.wikipedia.org/wiki?curid=38847538 |
Female labor force in the Muslim world According to the UN, IHDI is "based on a distribution-sensitive class of composite indices proposed by Foster, Lopez-Calva, and Szekely (2005), which draws on the Atkinson (1970) family of inequality measures. It is computed as the geometric mean of dimension indices adjusted for ... | https://en.wikipedia.org/wiki?curid=38847538 |
Female labor force in the Muslim world In Iraq, the GII score jumped by 9% from 2005 to 2008 but then leveled off in 2011. Turkey, Indonesia, Tunisia, and Pakistan have seen consistent improves to gender equality since 2005. Due to the broad, general nature of the indicators, the minimal and narrow data used to compile... | https://en.wikipedia.org/wiki?curid=38847538 |
Assume a can opener "Assume a can opener" is a catchphrase used to mock economists and other theorists who base their conclusions on unjustified or oversimplified assumptions. The phrase derives from a joke which dates to at least 1970 and possibly originated with British economists. The first book mentioning it is lik... | https://en.wikipedia.org/wiki?curid=38854960 |
Assume a can opener " It has been used in Australia to describe "a treasurer who has lost all touch with reality" and politicians "assuming away" the problem of getting a global greenhouse gas deal. It was used in India to describe American economic policy toward China. It has been extended beyond economics to describe... | https://en.wikipedia.org/wiki?curid=38854960 |
Tariq Ali Khan (; born 21 October 1943) is a British political activist, writer, journalist, historian, filmmaker, and public intellectual. He is a member of the editorial committee of the "New Left Review" and "Sin Permiso", and contributes to "The Guardian", "CounterPunch", and the "London Review of Books". He read P... | https://en.wikipedia.org/wiki?curid=38860895 |
Tariq Ali Our son Tariq was born while Mazhar was away. By the time he returned, I had joined the Communist Party. I had given away my entire trousseau, including the family jewels, to the Party." Ali first became politically active in his teens, taking part in opposition to the military dictatorship of Pakistan. An un... | https://en.wikipedia.org/wiki?curid=38860895 |
Tariq Ali Active in the New Left of the 1960s, he has long been associated with the "New Left Review". Ali inserted himself into politics through his involvement with "The Black Dwarf" newspaper, he joined the International Marxist Group (IMG) in 1968. He was recruited to the leadership of the IMG and became a member o... | https://en.wikipedia.org/wiki?curid=38860895 |
Tariq Ali His book, "Clash of Fundamentalisms", aimed to put the events of the September 11 attacks in historical perspective. He followed that with "Bush in Babylon", which criticised the 2003 invasion of Iraq by American president George W. Bush. The book uses poetry and critical essays in portraying the war in Iraq ... | https://en.wikipedia.org/wiki?curid=38860895 |
Tariq Ali Never previously produced because of a censorship controversy, it was finally premiered in New York in October 2007, the day before former Pakistani Prime Minister Benazir Bhutto returned to her home country after eight years in exile. In 2009, Ali, alongside Mark Weisbrot wrote the screenplay to the Oliver S... | https://en.wikipedia.org/wiki?curid=38860895 |
Choice of techniques The choice of techniques is an area of economics in which the question of the appropriate capital or labour-intensity of the method of production of goods is discussed. In the context of traditional development economics it was often recognised (Stewart (1972) for example) that this choice was cent... | https://en.wikipedia.org/wiki?curid=38878996 |
Motor Vehicles Tax in India is imposed by state governments. It is calculated on the basis of various factors including engine capacity, seating capacity, unladen weight and cost price. | https://en.wikipedia.org/wiki?curid=38901073 |
SIX Interbank Clearing AG (before November 2008: Swiss Interbank Clearing AG), based in Zurich, Switzerland, is a subsidiary of SIX Group. Since 1987 has operated on behalf of the Swiss National Bank a payment platform for the processing of domestic and international payments (clearing) in Swiss francs and, since the i... | https://en.wikipedia.org/wiki?curid=38917525 |
Swiss Interbank Clearing The (SIC) system is a mechanism for the clearing of domestic and international payments. The development of the SIC started in 1980. Since 1987, the SIC system has been operated by SIX Interbank Clearing AG (100% owner of the SIC) on behalf of the Swiss National Bank (SNB). 12 Swiss banks parti... | https://en.wikipedia.org/wiki?curid=38917776 |
Swiss Interbank Clearing In 2019, the Swiss National Bank launched a new service to clear digital currency transactions, and developed its own blockchain-based digital currency to make this service interoperable with the SIC. The service, which aims to incorporate virtual central bank funds into a distributed ledger te... | https://en.wikipedia.org/wiki?curid=38917776 |
Oxford model The Oxford Model or the Oxford Econometric Model was created by Lawrence Klein and Sir James Ball. It included a Phillips-type relation and led to an "explosion" of macroeconometric forecasting. | https://en.wikipedia.org/wiki?curid=38919058 |
Unorganised sector (India) The term unorganised sector when used in the Indian contexts defined by National Commission for Enterprises in the Unorganised Sector, in their Report on Conditions of Work and Promotion of Livelihoods in the Unorganised Sector as ""... consisting of all unincorporated private enterprises own... | https://en.wikipedia.org/wiki?curid=38924903 |
Principled reasoning (also known as principles-based reasoning and principle-centered reasoning) is an alternative to modern portfolio theory based on a different conception of risk. Modern portfolio theory, according to its founder, Harry Markowitz, equates risk with "variance of returns." offers a critique of modern ... | https://en.wikipedia.org/wiki?curid=38926868 |
Association for the Study of the Cuban Economy The (ASCE) is a professional association for the study of the Cuban economy. The association was incorporated on 3 August 1990 by Cuban American economists interested in the post-Cold War prospects for Cuba. | https://en.wikipedia.org/wiki?curid=38927695 |
Hotel Receipts Tax is a tax in India which is leviable in respect of the chargeable receipts accruing or arising to a hotel in which the room charges per day per individual are Rs. 75 or more. The tax was established in 1981. | https://en.wikipedia.org/wiki?curid=38935016 |
Entry Tax is a tax on the movement of goods from one state to another imposed by the state governments in India. It is levied by the recipient state to protect its tax base. The tax was introduced on 1 September 2000. The tax applies to dealers, industrial, commercial or trading undertakings, central and state governme... | https://en.wikipedia.org/wiki?curid=38943665 |
Sovereign credit risk is the risk of a government becoming unwilling or unable to meet its loan obligations, as happened to Cyprus in 2013. Many countries faced sovereign risk in the Great Recession of the late-2000s. This risk can be mitigated by creditors and stakeholders taking extra precaution when making investmen... | https://en.wikipedia.org/wiki?curid=38953877 |
Industrial Policy Resolution of 1956 (IPR 1956) is a resolution adopted by the Indian Parliament in April 1956. It was the first comprehensive statement on industrial development of India. The 1956 policy continued to constitute the basic economic policy for a long time. This fact has been confirmed in all the Five-Yea... | https://en.wikipedia.org/wiki?curid=38954120 |
Industrial Policy Resolution of 1956 Generation and distribution of electricity. Although there was a category of industries left to the private sector (Schedule C above), the sector was kept under state control through a system of licenses. In order to open new industry or to expand production, obtaining a license fro... | https://en.wikipedia.org/wiki?curid=38954120 |
Trunk show A trunk show is an event in which vendors present merchandise directly to store personnel or customers at a retail location or another venue such as a hotel room. In many cases it allows store personnel to preview and/or purchase merchandise before it is made available to the public. Typically, clients view ... | https://en.wikipedia.org/wiki?curid=3769075 |
Trunk show A may also refer to a very small theatrical performance. This may be a short skit or sketch with only a few (Or even one) actor, where the only props and costumes for the event are contained within a single trunk. | https://en.wikipedia.org/wiki?curid=3769075 |
Lateral expansion Lateral expansion, in economics, is the growth of a business enterprise through the acquisition of similar companies, in the hope of achieving economies of scale or economies of scope. Unchecked lateral expansion can lead to powerful conglomerates or monopolies. Related is vertical expansion, which is... | https://en.wikipedia.org/wiki?curid=3777675 |
Future interests (actuarial science) Future interests is the subset of actuarial math that divides enjoyment of property -- usually the right to an income stream either from an annuity, a trust, royalties, or rents -- based usually on the future survival of one or more persons (natural humans, not juridical persons suc... | https://en.wikipedia.org/wiki?curid=3783795 |
Baltic Dry Index The (BDI), is issued daily by the London-based Baltic Exchange. The BDI is a composite of the Capesize, Panamax and Supramax Timecharter Averages. It is reported around the world as a proxy for dry bulk shipping stocks as well as a general shipping market bellwether. The BDI is the successor to the Bal... | https://en.wikipedia.org/wiki?curid=3784265 |
Baltic Dry Index The BDI factors in three different sizes of oceangoing dry bulk transport vessels: The BDI is based on daily assessments of the following 20 routes: The BDI contains route assessments based only on time-charter hire rates "USD hire paid per day". The index can be accessed on a subscription basis direct... | https://en.wikipedia.org/wiki?curid=3784265 |
Baltic Dry Index The Baltic Exchange will continue to report the Handysize vessel market and in November 2017, as part of the ongoing review of its indices, launched a trial of a new Handysize Imabari 38 benchmark vessel and seven timecharter routes. Most directly, the index measures the demand for shipping capacity ve... | https://en.wikipedia.org/wiki?curid=3784265 |
Baltic Dry Index The BDI is considered by some people as a leading economic indicator because it predicts future economic activity. Other leading economic indicators—which serve as the foundation of important political and economic decisions—are often measured to serve narrow interests, and subjected to adjustments or ... | https://en.wikipedia.org/wiki?curid=3784265 |
Baltic Dry Index This, combined with the collapsing price of raw commodities created a perfect storm for the world's marine commerce. During 2009, the index recovered as high as 4661, but then bottomed out at 1043 in February, 2011, after continued deliveries of new ships and flooding in Australia. Though rebounding to... | https://en.wikipedia.org/wiki?curid=3784265 |
Mary King (economist) Mary King is a Trinidad and Tobago economist, former Senator and former Minister of Planning, Economic and Social Restructuring and Gender Affairs in the People's Partnership Government. She is also an executive member of GOPAC, the Global Organisation of Parliamentarians Against Corruption, a for... | https://en.wikipedia.org/wiki?curid=3785250 |
Real income is income of individuals or nations after adjusting for inflation. It is calculated by dividing nominal income by the price level. Real variables such as real income and real GDP are variables that are measured in physical units, while nominal variables such as nominal income and nominal GDP are measured in... | https://en.wikipedia.org/wiki?curid=3785283 |
Marginal rate of technical substitution In microeconomic theory, the Marginal Rate of Technical Substitution (MRTS)—or Technical Rate of Substitution (TRS)—is the amount by which the quantity of one input has to be reduced (formula_1) when one extra unit of another input is used (formula_2), so that output remains cons... | https://en.wikipedia.org/wiki?curid=3785733 |
Business mileage reimbursement rate The business mileage reimbursement rate is an optional standard mileage rate used in the United States for purposes of computing the allowable business deduction, for Federal income tax purposes under the Internal Revenue Code, at , for the business use of a vehicle. Under the law, t... | https://en.wikipedia.org/wiki?curid=3787694 |
Expiration (options) In finance, the expiration date of an option contract is the last date on which the holder of the option may exercise it according to its terms. In the case of options with "automatic exercise" the net value of the option is credited to the long and debited to the short position holders. Typically,... | https://en.wikipedia.org/wiki?curid=3790503 |
Kinebar A kinebar is a gold bar which contains a Kinegram to prove its authenticity. Kinegram is a trademark of OVD Kinegram Corp. (Switzerland). A kinegram is a diffractive security device embossed directly into a substrate (here gold). It is intended both as a security feature and for visual appeal. Union Bank of Swi... | https://en.wikipedia.org/wiki?curid=3799918 |
Lattice model (finance) In finance, a lattice model is a technique applied to the valuation of derivatives, where a discrete time model is required. For equity options, a typical example would be pricing an American option, where a decision as to option exercise is required at "all" times (any time) before and includin... | https://en.wikipedia.org/wiki?curid=3815666 |
Lattice model (finance) For equity and commodities the application is as follows. The first step is to trace the evolution of the option's key underlying variable(s), starting with today's spot price, such that this process is consistent with its volatility; log-normal Brownian motion with constant volatility is usuall... | https://en.wikipedia.org/wiki?curid=3815666 |
Lattice model (finance) (Although, tree-based methods have been developed) The simplest lattice model is the binomial options pricing model; the standard ("canonical") method is that proposed by Cox, Ross and Rubinstein (CRR) in 1979; see diagram for formulae. Over 20 other methods have been developed, with each "deriv... | https://en.wikipedia.org/wiki?curid=3815666 |
Lattice model (finance) For vanilla options, as the number of steps increases, the results rapidly converge, and the binomial model is then preferred due to its simpler implementation. For exotic options the trinomial model (or adaptations) is sometimes more stable and accurate, regardless of step-size. Various of the ... | https://en.wikipedia.org/wiki?curid=3815666 |
Lattice model (finance) These trees thus "ensure that all European standard options (with strikes and maturities coinciding with the tree nodes) will have theoretical values which match their market prices". Using the calibrated lattice one can then price options with strike / maturity combinations not quoted in the ma... | https://en.wikipedia.org/wiki?curid=3815666 |
Lattice model (finance) Thereafter the up-, down- and middle-probabilities are found for each node such that: these sum to 1; spot prices adjacent time-step-wise evolve risk neutrally, incorporating dividend yield; state prices similarly "grow" at the risk free rate. (The solution here is iterative per time step as opp... | https://en.wikipedia.org/wiki?curid=3815666 |
Lattice model (finance) Lattices are commonly used in valuing bond options, Swaptions, and other interest rate derivatives In these cases the valuation is largely as above, but requires an additional, zeroeth, step of constructing an interest rate tree, on which the price of the underlying is then based. The next step ... | https://en.wikipedia.org/wiki?curid=3815666 |
Lattice model (finance) In this case, the Lattice is sometimes referred to as a "bush", and the number of nodes grows exponentially as a function of number of time-steps. A recombining binomial tree methodology is also available for the Libor Market Model. As regards the short-rate models, these are, in turn, further c... | https://en.wikipedia.org/wiki?curid=3815666 |
Lattice model (finance) The volatility structure—i.e. vertical node-spacing—here reflects the volatility of rates during the quarter, or other period, corresponding to the lattice time-step. (Some analysts use "realized volatility", i.e. of the rates applicable "historically" for the time-step; to be market-consistent,... | https://en.wikipedia.org/wiki?curid=3815666 |
Lattice model (finance) For caps (and floors) step 1 and 2 are combined: at each node the value is based on the relevant nodes at the later step, plus, for any caplet (floorlet) maturing in the time-step, the difference between its reference-rate and the short-rate at the node (and reflecting the corresponding day coun... | https://en.wikipedia.org/wiki?curid=3815666 |
Lattice model (finance) Since the 2007–2012 global financial crisis, swap pricing is (generally) under a "multi-curve framework", whereas previously it was off a single, "self discounting", curve; see . Here, payoffs are set as a function of LIBOR specific to the tenor in question, while discounting is at the OIS rate.... | https://en.wikipedia.org/wiki?curid=3815666 |
Lattice model (finance) An alternate approach, originally published by Goldman Sachs (1994), does not decouple the components, rather, discounting is at a conversion-probability-weighted risk-free and risky interest rate within a single tree. See , Contingent convertible bond. More generally, equity can be viewed as a ... | https://en.wikipedia.org/wiki?curid=3815666 |
Lattice model (finance) Here, similar to rho and vega above, the interest rate tree is rebuilt for an upward and then downward parallel shift in the yield curve and these measures are calculated numerically given the corresponding changes in bond value. | https://en.wikipedia.org/wiki?curid=3815666 |
Malthusian trap The or population trap is a condition whereby excess population would stop growing due to shortage of food supply leading to starvation. It is named for Thomas Robert Malthus, who suggested that while technological advances could increase a society's supply of resources, such as food, and thereby improv... | https://en.wikipedia.org/wiki?curid=3817699 |
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