Prices are of great importance in macroeconomics as indeed they are in microeconomics. However, in
microeconomics we are more interested in prices of individual goods and services and such prices are
rarely important for the economy as a whole although there are exceptions (for example, the price of
oil). In macroeconomics we are more interested in how prices change on average. We define the price
level as a weighted average of several different prices.
Prices are of great importance in macroeconomics as indeed they are in microeconomics. However, in microeconomics we are more interested in prices of individual goods and services and such prices are rarely important for the economy as a whole although there are exceptions (for example, the price of oil). In macroeconomics we are more interested in how prices change on average. We define the pricelevel as a weighted average of several different prices.
Price changes and the surpluses or shortages of specific products are often first noted in
wholesale channels. The wholesaler to a certain extent determines the market price. If more
pork is offered through trade channels than consumers will take at a given price the wholesaler
promptly reduces his price bid to packing houses; prices paid for live hogs on the one hand, and
for wholesale cuts of pork on the other, will decline. Reduced prices to consumers are thus made
possible, and a larger supply of pork will be absorbed. An opposite action will occur,...
The Review uses the results from one particular model, PAGE2002, to illustrate how
the estimates derived from these integrated assessment models change in response
to updated scientific evidence on the probabilities attached to degrees of temperature
rise. The choice of model was guided by our desire to analyse risks explicitly - this is
one of the very few models that would allow that exercise. Further, its underlying
assumptions span the range of previous studies.
In this paper we propose a new, information-based approach for
modelling the dynamic evolution of a portfolio of credit risky securities. In our
setup market prices of traded credit derivatives are given by the solution of a
nonlinear filtering problem. The innovations approach to nonlinear filtering is
used to solve this problem and to derive the dynamics of market prices. Moreover,
the practical application of the model is discussed: we analyse calibration,
the pricing of exotic credit derivatives and the computation of risk-minimizing
The scientific evidence is now overwhelming: climate change presents very serious
global risks, and it demands an urgent global response.
This independent Review was commissioned by the Chancellor of the Exchequer,
reporting to both the Chancellor and to the Prime Minister, as a contribution to
assessing the evidence and building understanding of the economics of climate
The Review first examines the evidence on the economic impacts of climate change
itself, and explores the economics of stabilising greenhouse gases in the
Using the panel-data approach of Kónya (2006), which is based on SUR systems and Wald
tests with country-specific bootstrap critical values, and two different (weekly and monthly)
datasets covering respectively the periods from 7 June 2005 to 21October 2008, and from
January 1996 to December 2007, we show strong statistical evidence that the causal
relationship is consistently bi-directional for Saudi Arabia. In the other GCC countries, stock
market price changes do not Granger cause oil price changes, whereas oil price shocks
Granger cause stock price changes.
Lectures "Marketing management - Chapter 14: Developing pricing strategies and programs" provides students with the knowledge: Understanding pricing, setting the price, price adaptation strategies, initiating and responding to price changes. Invite you to refer to the disclosures.
Chapter 14 - Developing pricing strategies and programs. In this chapter, we will address the following questions: How do consumers process and evaluate prices? How should a company set prices initially for products or services? How should a company adapt prices to meet varying circumstances and opportunities? When should a company initiate a price change? How should a company respond to a competitor’s price change?
Some works have more recently focused on major European, Asian and Latin American
emerging markets. In general, these studies show significant short- and long-term
relationships between oil price changes and emerging stock market returns. Using a VAR
model, Papapetrou (2001) shows a significant relationship between oil price changes and
stock markets in Greece. Basher and Sadorsky (2006) use an international multifactor model
and reach the same conclusion for other emerging stock markets. ...
However, less attention has
been paid to smaller emerging markets, especially in the GCC countries where share dealing
is a relatively recent phenomenon. Using VAR models and cointegration tests, Hammoudeh
and Eleisa (2004) show that there is a bidirectional relationship between Saudi stock returns
and oil price changes. The findings also suggest that the other GCC markets are not directly
linked to oil prices and are less dependent on oil exports and are more influenced by domestic
factors. Bashar (2006) uses VAR analysis to study the effect of oil price changes on GCC....
List of Figures List of Boxes Graphs List of Tables List of Contributors Preface Acronyms Chapter 1 Infrastructure Mandates for Reconstruction MESHACK KHOSA Chapter 2 Transformation in Infrastructure Policy from Apartheid to Democracy: Mandates for Change, Continuities in Ideology, Fractions in Delivery Patrick Bond, George Dor and Greg Ruiters Chapter 3 Gender, Development and Infrastructure Debbie Budlender Chapter 4 The Role of the Construction Industry in the Delivery of Infrastructure in South Africa Andrew Merrifield Chapter 5 Financing of Public Infrastructure Investment in South Afr...
When information is costly, a seller may wish to prevent prospective buyers from acquiring
information, for the cost of information acquisition is ultimately borne by the seller. A seller
can achieve the desired prevention of information acquisition through posted-price selling, by
offering prospective buyers a discount that is such as to deter them from gathering information.
No such prevention is possible in the case of an auction. Clearly, a discount is costly to the seller.
This chapter include objectives: Explain how the Consumer Price Index is constructed and use it to calculate the inflation rate; show how the CPI is used to adjust economic data to eliminate the effects of inflation; discuss the two most important biases in the CPI; distinguish between inflation and relative price changes to find the true cost of inflation; summarize the connections among inflation, nominal interest rates, and real interest rates.
Chapter 13 - Dimensions of marketing strategy. Learning objectives of this chapter include: Describe the role of product in the marketing mix, including how products are developed, classified, and identified; define price and discuss its importance in the marketing mix, including various pricing strategies a firm might employ; identify factors affecting distribution decisions, such as marketing channels and intensity of market coverage;...
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Technical analysis is a financial market research activities. Technical analysts to track price changes daily or weekly based on any constant time is shown on the graph, called the graph. Since it appears the name charting.
In the 1950s and 1960s airports were seen as just another, fairly inconsequential arm of government. Over the past 20 years, however, it has become obvious that airports can actually be run as highly successful and profitable businesses. Despite this success the industry has, until now, had no defined economic theory to base itself on. The aim of The Airport Business is to change this.
A derivative is a contract that is used to transfer risk. There are many
different underlying risks, ranging from fluctuations in energy prices to
weather risks. Most derivatives, however, are based on financial securities
such as common stocks, bonds and foreign exchange instruments.