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Of Assumptions (of + assumption)

Distribution by Scientific Domains
Business, Economics, Finance and Accounting75%

Kinds of Of Assumptions

  • variety of assumption
    		•

    Selected Abstracts

    Exchange rate and foreign price effects on UK inflation

    ECONOMIC OUTLOOK, Issue 2 2002
    Graeme Chamberlin
    The issue of incomplete pass-through from exchange rate changes to domestic inflation has received considerable attention. Most models try to account for this by using a variety of assumptions about the costs of changing prices. These suggest complete pass-through, but only after the possible elapse of a considerable delay. In contrast, in this article Graeme Chamberlin and Brian Henry provide evidence that exchange rate effects on inflation may be non-linear and, more specifically, subject to thresholds. Their tentative results suggest this may be important in describing price-setting behaviour in the UK. [source]

    What if the UK or Sweden had joined the euro in 1999?

    INTERNATIONAL JOURNAL OF FINANCE & ECONOMICS, Issue 1 2007
    An empirical evaluation using a Global VAR
    Abstract This paper attempts to provide a conceptual framework for the analysis of counterfactual scenarios using macroeconometric models. As an application we consider UK entry to the euro. Entry involves a long-term commitment to restrict UK nominal exchange rates and interest rates to be the same as those of the euro area. We derive conditional probability distributions for the difference between the future realizations of variables of interest (e.g. UK and euro area output and prices) subject to UK entry restrictions being fully met over a given period and the alternative realizations without the restrictions. The robustness of the results can be evaluated by also conditioning on variables deemed to be invariant to UK entry, such as oil or US equity prices. Economic interdependence means that such policy evaluation must take account of international linkages and common factors that drive fluctuations across economies. In this paper this is accomplished using the Global VAR recently developed by Dees et al. (J. Appl. Econometrics, 2007, forthcoming). The paper briefly describes the GVAR which has been estimated for 25 countries and the euro area over the period 1979,2003. It reports probability estimates that output will be higher and prices lower in the UK and the euro area as a result of entry. It examines the sensitivity of these results to a variety of assumptions about when and how the UK entered and the observed global shocks and compares them with the effects of Swedish entry. Copyright © 2007 John Wiley & Sons, Ltd. [source]

    Materials and Energy Flow Analysis of Paper Consumption in the United Kingdom, 1987-2010

    JOURNAL OF INDUSTRIAL ECOLOGY, Issue 3 2001
    Erik Sundin
    Summary This article presents the results of a life-cycle materials and energy flow analysis for the pulp and paper cycle in the United Kingdom. Material flows are reconstructed for the period be-tween 1987 and 1996 for all major processes associated with the paper cycle, and system energy requirements are calculated over this period using the best available data. Attention is drawn to the import dependence of U.K. paper demand, and the significant energy requirements associated with upstream forestry processes. The historical trend analysis is then used to model possible future developments in materials and energy consumption until 2010 under a variety of assumptions about process technology improvements, wastepaper utilization rates, and changing demand trends. The results indicate that policy options to increase recycling yield some energy benefits, but these are small by comparison with the benefits to be gained by reducing consumption of paper and improving process technology. The structure of the electricity supply industry in the United Kingdom means that global energy benefits could also be achieved by increasing the contribution from imported pulp. [source]

    Strip Bonds and Arbitrage Bounds

    CANADIAN JOURNAL OF ADMINISTRATIVE SCIENCES, Issue 2 2000
    Paul Halpern
    If the price of a coupon bond is sufficiently different from the sum of the prices of its stripped components, arbitrage trades between the two will be profitable. We estimate the size of the price difference between the prices of a coupon bond and a replicating package of strip bonds. When the price of a coupon bond exceeds the value of the replicating package of strips, the difference between the coupon bond price and the price of the package of strips is much greater than when the price of the coupon bond is below the price of the package of replicating strip bonds. This difference persists under a variety of assumptions about taxation and transaction costs, and appears to indicate market inefficiency. Résumé Si le prix d'une obligation à coupons est suffisamment différent de la somme de ses éléments détachés, un échange à l'arbitrage entre les deux sera profitable. Nous estimons l'importance de la différence de prix entre le coǒt d'une obligation à coupons et celui d'un bloc reproductif d'obligations coupons détachés. Quand le prix d'une obligation à coupons dépasse la valeur du bloc reproductif de coupures, la différence entre le prix de l'obligation à coupons et celui du bloc de coupures est beaucoup plus importante que lorsque le prix de l'obligation à coupons est sous le prix du bloc reproductif d'obligations coupons détachés. Cette différence persiste sous une variété de suppositions basées sur les coǒts d'imposition et de transaction, et semble indiquer un manque de rendement du marché. [source]