Search results
Results from the WOW.Com Content Network
To obtain the precise value, use the exact formulation = / / = =, which implies a USD depreciation of = % relative to the EUR. As the linear approximation to the logarithm deteriorates in the size of the change in the exchange rate or the price level, the exact formulation should be preferred for large deviations.
It is widely used in mathematics and, to a lesser extent, in business, economics, and some engineering problems. There is a close connection between linear programs, eigenequations, John von Neumann's general equilibrium model, and structural equilibrium models (see dual linear program for details).
The economic lot scheduling problem (ELSP) is a problem in operations management and inventory theory that has been studied by many researchers for more than 50 years. The term was first used in 1958 by professor Jack D. Rogers of Berkeley, [1] who extended the economic order quantity model to the case where there are several products to be produced on the same machine, so that one must decide ...
An economic model is a theoretical construct representing economic processes by a set of variables and a set of logical and/or quantitative relationships between them. The economic model is a simplified, often mathematical, framework designed to illustrate complex processes. Frequently, economic models posit structural parameters. [1]
where the economic meanings of and are the equilibrium prices of various goods and the equilibrium activity levels of various economic agents, respectively. The von Neumann's equilibrium model can be further extended to the following structural equilibrium model with A {\displaystyle \mathbf {A} } and B {\displaystyle \mathbf {B} } as matrix ...
The IS/LM model is a Keynesian macroeconomic model designed to make predictions about the intersection of "real" economic activity (e.g. spending, income, savings rates) and decisions made in the financial markets (Money supply and Liquidity preference). The model is no longer widely taught at the graduate level but is common in undergraduate ...
Driven by the rapid growth of computing capacities from the mid-1980s on, the application of Markov chain Monte Carlo simulation to statistical and econometric models, first performed in the early 1990s, enabled Bayesian analysis to drastically increase its influence in economics and econometrics.
Purchasing power parity (PPP) [1] is a measure of the price of specific goods in different countries and is used to compare the absolute purchasing power of the countries' currencies.