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In economics, a trough is a low turning point or a local minimum of a business cycle. The time evolution of many economics variables exhibits a wave-like behavior with local maxima (peaks) followed by local minima (troughs). A business cycle may be defined as the period between two consecutive peaks. [1] [2]
The Foster–Greer–Thorbecke indices are a family of poverty metrics.The most commonly used index from the family, FGT 2, puts higher weight on the poverty of the poorest individuals, making it a combined measure of poverty and income inequality and a popular choice within development economics.
A Robinson Crusoe economy is a simple framework used to study some fundamental issues in economics. [1] It assumes an economy with one consumer, one producer and two goods. The title "Robinson Crusoe" is a reference to the 1719 novel of the same name authored by Daniel Defo
Hamelink, F. and M. Hoesli, "The Maximum Drawdown as a Risk Measure: The Role of Real Estate in the Optimal Portfolio Revisited", working paper (June 24), 2003. Hayes, B. T., "Maximum Drawdowns of Hedge Funds with Serial Correlation", Journal of Alternative Investments (vol 8, no 4) (Spring), pp. 26–38, 2006.
In addition to the absolute pass-through that uses incremental values (i.e., $2 cost shock causing $1 increase in price yields a 50% pass-through rate), some researchers use pass-through elasticity, where the ratio is calculated based on percentage change of price and cost (for example, with elasticity of 0.5, a 2% increase in cost yields a 1% increase in price).
In the discrete case, an economic inequality index may be represented by a function I(x), where x is a set of n economic values (e.g. wealth or income) x={x 1,x 2,...,x n} with x i being the economic value associated with "economic agent" i.
In economics, a cost curve is a graph of the costs of production as a function of total quantity produced. In a free market economy, productively efficient firms optimize their production process by minimizing cost consistent with each possible level of production, and the result is a cost curve.
Usually, that share doesn't change much; e.g. food expenditures across a million households might be 20% of income in one period and 20.1% the next period. In practice, Törnqvist indexes are often computed using an equation that results from taking logs of both sides, as in the expression below which computes the same P t {\displaystyle P_{t ...