economics

A stock may look cheap relative to comparable companies today, but that assessment can shift dramatically over the next few months.

They occur instead for two other, related, reasons. First, emerging market borrowers and investors have consistently underestimated the source and magnitude of volatility in emerging financial markets. Second, perhaps as a consequence, borrowers and investors have permitted and even encouraged sovereigns to put into place capital structures that

Hence, just as a value network is characterized by a specific rank-ordering of product attributes valued by customers, it is also characterized by a specific cost structure required to provide the valued products and services.

economy. China is an investment-driven economy. The trade surplus is a residual result of investment-related policies that force up the savings rate to levels above the investment rate.

At that time the short U.S. swap spread, the European cross-swap trade, and the short volatility trade were by far LTCM’s largest trades.

All subsidies must be paid for, of course, and it is usually, although not always, the household sector that pays.

Rents would rise first, with grain prices lagging behind rents, the price of industrial goods lagging behind grain prices, and workers’ wages bringing up the rear.