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An index number is an economic data figure reflecting price or quantity compared with a standard or base value. [5] [6] The base usually equals 100 and the index number is usually expressed as 100 times the ratio to the base value. For example, if a commodity costs
Leading Credit Index - a composite index developed by the Conference Board consisting of six financial indicators such as yield spreads, loan survey information and investor sentiment [5] Interest rate spread (10-year Treasury vs. Federal Funds target) — The interest rate spread is often referred to as the yield curve and implies the expected ...
In economics, an input–output model is a quantitative economic model that represents the interdependencies between different sectors of a national economy or different regional economies. [1] Wassily Leontief (1906–1999) is credited with developing this type of analysis and earned the Nobel Prize in Economics for his development of this model.
In statistics and research design, an index is a composite statistic – a measure of changes in a representative group of individual data points, or in other words, a compound measure that aggregates multiple indicators. [1] [2] Indices – also known as indexes and composite indicators – summarize and rank specific observations. [2]
A macroeconomic model is an analytical tool designed to describe the operation of the problems of economy of a country or a region. These models are usually designed to examine the comparative statics and dynamics of aggregate quantities such as the total amount of goods and services produced, total income earned, the level of employment of productive resources, and the level of prices.
The Big Mac Index is a simple implementation of PPP where the basket contains a single good: a Big Mac burger from McDonald's restaurants. The index was created and popularized by The Economist in 1986 as a way to teach economics and to identify over- and under-valued currencies. [24]
For societies with a resource distribution which entropywise is similar to the resource distribution of a reference society with a 73:27 split (73% of the resources belong to 27% of the population and vice versa), [Note 3] the point where the Hoover index and the Theil index are equal, is at a value of around 46% (0.46) for the Hoover index and ...
Econometrics is an application of statistical methods to economic data in order to give empirical content to economic relationships. [1] More precisely, it is "the quantitative analysis of actual economic phenomena based on the concurrent development of theory and observation, related by appropriate methods of inference."