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In statistics, a proxy or proxy variable is a variable that is not in itself directly relevant, but that serves in place of an unobservable or immeasurable variable. [1] In order for a variable to be a good proxy, it must have a close correlation, not necessarily linear, with the variable of interest. This correlation might be either positive ...
The concept is often encountered in the context of a government's approach to spending and taxation. A 'procyclical fiscal policy' can be summarised simply as governments choosing to increase government spending and reduce taxes during an economic expansion, but reduce spending and increase taxes during a recession.
Proxy methods are of particular use in the study of the past climate, beyond times when direct measurements of temperatures are available. Most proxy records have to be calibrated against independent temperature measurements, or against a more directly calibrated proxy, during their period of overlap to estimate the relationship between ...
Goodhart's law is an adage often stated as, "When a measure becomes a target, it ceases to be a good measure". [1] It is named after British economist Charles Goodhart, who is credited with expressing the core idea of the adage in a 1975 article on monetary policy in the United Kingdom: [2]
One of the most common statistical indicators used in the literature [citation needed] as a proxy for central bank independence is the "turn-over-rate" of central bank governors. If a government is in the habit of appointing and replacing the governor frequently, it clearly has the capacity to micro-manage the central bank through its choice of ...
Research into tax havens suggests a high GDP-per-capita score, in the absence of material natural resources, as an important proxy indicator of a tax haven. [47] At the core of the FSF-IMF definition of an offshore financial centre is a country where the financial BEPS flows are out of proportion to the size of the indigenous economy. [47]
These indicators can help investors decide when to buy or sell investments. For example, if the stock market is at its … Continue reading ->The post Economic Indicators: Definition, Types and ...
Global paleoclimate indicators are the proxies sensitive to global paleoclimatic environment changes. They are mostly derived from marine sediments.Paleoclimate indicators derived from terrestrial sediments, on the other hand, are commonly influenced by local tectonic movements and paleogeographic variations.