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Theory Of Fructification
In economics, the theory of fructification is a theory of the interest rate which was proposed by French economist and finance minister Anne Robert Jacques Turgot. The term ''theory of fructification'' is due to Eugen von Böhm-Bawerk who considered Turgot as the first economist who tried to develop a scientific explanation of the interest rate. According to Turgot, a capitalist can either lend his money, or employ it in the purchase of a plot of land. Because fruitful land yields an annual rent forever, its price is given by the formula of a perpetual annuity: If ''A'' denotes the land's annual rent and ''r'' denotes the interest rate, the land price is simply ''A''/''r''. From this formula, Turgot concluded that "the lower the interest rate, the more valuable is the land." Specifically, if the interest rate approached zero, the land price would become infinite. Because land prices must be finite, it follows that the interest rate is strictly positive. Turgot argued also that the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economics
Economics () is the social science that studies the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and services. Economics focuses on the behaviour and interactions of Agent (economics), economic agents and how economy, economies work. Microeconomics analyzes what's viewed as basic elements in the economy, including individual agents and market (economics), markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyzes the economy as a system where production, consumption, saving, and investment interact, and factors affecting it: employment of the resources of labour, capital, and land, currency inflation, economic growth, and public policies that have impact on glossary of economics, these elements. Other broad distinctions within economics include those between positive economics, desc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Edmond Malinvaud
Edmond Malinvaud (25 April 1923 – 7 March 2015) was a French economist. He was the first president of the Pontifical Academy of Social Sciences. Trained at the École Polytechnique and at the École Nationale de la Statistique et de l'Administration Économique ( ENSAE) in Paris, Malinvaud was a student of Maurice Allais. In 1950, Malinvaud left Allais to join the Cowles Commission in the United States. At Cowles, Malinvaud produced work in many directions. His famous article, "Capital Accumulation and the Efficient Allocation of Resources" (1953), provided an intertemporal theory of capital for general equilibrium theory and introduced the concept of dynamic efficiency. He became director of the ENSAE (1962–1966), director of the forecast department of French Treasury (1972–1974), director of the INSEE (1974–1987) and Professor at the Collège de France (1988–1993). He also worked on uncertainty theory, notably the theory of "first order certainty equivalence" (1969) ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mathematical Finance
Mathematical finance, also known as quantitative finance and financial mathematics, is a field of applied mathematics, concerned with mathematical modeling of financial markets. In general, there exist two separate branches of finance that require advanced quantitative techniques: derivatives pricing on the one hand, and risk and portfolio management on the other. Mathematical finance overlaps heavily with the fields of computational finance and financial engineering. The latter focuses on applications and modeling, often by help of stochastic asset models, while the former focuses, in addition to analysis, on building tools of implementation for the models. Also related is quantitative investing, which relies on statistical and numerical models (and lately machine learning) as opposed to traditional fundamental analysis when managing portfolios. French mathematician Louis Bachelier's doctoral thesis, defended in 1900, is considered the first scholarly work on mathematical fina ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Exponentials
Exponential may refer to any of several mathematical topics related to exponentiation, including: *Exponential function, also: **Matrix exponential, the matrix analogue to the above * Exponential decay, decrease at a rate proportional to value *Exponential discounting, a specific form of the discount function, used in the analysis of choice over time *Exponential growth, where the growth rate of a mathematical function is proportional to the function's current value *Exponential map (Riemannian geometry), in Riemannian geometry * Exponential map (Lie theory), in Lie theory * Exponential notation, also known as scientific notation, or standard form *Exponential object, in category theory *Exponential time, in complexity theory *in probability and statistics: ** Exponential distribution, a family of continuous probability distributions **Exponentially modified Gaussian distribution, describes the sum of independent normal and exponential random variables **Exponential family, a paramet ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Finance Theories
Finance is the study and discipline of money, currency and capital assets. It is related to, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services (the discipline of financial economics bridges the two). Finance activities take place in financial systems at various scopes, thus the field can be roughly divided into personal, corporate, and public finance. In a financial system, assets are bought, sold, or traded as financial instruments, such as currencies, loans, bonds, shares, stocks, options, futures, etc. Assets can also be banked, invested, and insured to maximize value and minimize loss. In practice, risks are always present in any financial action and entities. A broad range of subfields within finance exist due to its wide scope. Asset, money, risk and investment management aim to maximize value and minimize volatility. Financial analysis is viability, stability, and profitability assessmen ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Interest
In finance and economics, interest is payment from a borrower or deposit-taking financial institution to a lender or depositor of an amount above repayment of the principal sum (that is, the amount borrowed), at a particular rate. It is distinct from a fee which the borrower may pay the lender or some third party. It is also distinct from dividend which is paid by a company to its shareholders (owners) from its profit or reserve, but not at a particular rate decided beforehand, rather on a pro rata basis as a share in the reward gained by risk taking entrepreneurs when the revenue earned exceeds the total costs. For example, a customer would usually pay interest to borrow from a bank, so they pay the bank an amount which is more than the amount they borrowed; or a customer may earn interest on their savings, and so they may withdraw more than they originally deposited. In the case of savings, the customer is the lender, and the bank plays the role of the borrower. Interest diff ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dynamic Efficiency
In economics, dynamic efficiency is a situation where it is impossible to make one generation better off without making any other generation worse off. It is closely related to the notion of "golden rule of saving". Are modern economies dynamically efficient? Abel, Mankiw, Summers, and Zeckhauser (1989) develop a criterion for addressing dynamic efficiency and apply this model to the United States and other OECD countries, suggesting that these countries are indeed dynamically efficient. In the Solow growth model An economy in the Solow growth model is dynamically inefficient if the savings rate exceeds the Golden Rule savings rate. If the savings rate is greater than the Golden Rule savings rate, a decrease in savings rate will increase consumption per effective unit of labor. A savings rate higher than the Golden Rule savings rate implies that an economy could be better off today and tomorrow by saving less. In other models The Ramsey-Cass-Koopmans model does not have dy ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stefan Homburg
Stefan Homburg (born March 10, 1961) is a German professor of economics. He was the director of the Institute of Public Finance at the University of Hannover, Lower Saxony, Germany until 2021. Outside academia he is best known for his controversial statements regarding the COVID-19 pandemic. Homburg studied economics, philosophy, and mathematics at the Cologne University, where he graduated with a degree in economics in 1985, followed by a doctoral degree in 1987. Subsequently, he was Professor of Economics at University of Bonn and University of Magdeburg, before he moved to Hannover. Homburg's research focuses on macroeconomics and public finance. He has co-authored a textbook in macroeconomics. Other publications address topics in monetary policy, social security, tax law, and business taxation. Homburg served as a member of several policy committees, including the Advisory Council at the Federal Ministry of Finance, the Federal Constitutional Commission (''Bundesstaatskommis ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
General Equilibrium Theory
In economics, general equilibrium theory attempts to explain the behavior of supply, demand, and prices in a whole economy with several or many interacting markets, by seeking to prove that the interaction of demand and supply will result in an overall general equilibrium. General equilibrium theory contrasts to the theory of ''partial'' equilibrium, which analyzes a specific part of an economy while its other factors are held constant. In general equilibrium, constant influences are considered to be noneconomic, therefore, resulting beyond the natural scope of economic analysis. The noneconomic influences is possible to be non-constant when the economic variables change, and the prediction accuracy may depend on the independence of the economic factors. General equilibrium theory both studies economies using the model of equilibrium pricing and seeks to determine in which circumstances the assumptions of general equilibrium will hold. The theory dates to the 1870s, particularly t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Interest
In finance and economics, interest is payment from a borrower or deposit-taking financial institution to a lender or depositor of an amount above repayment of the principal sum (that is, the amount borrowed), at a particular rate. It is distinct from a fee which the borrower may pay the lender or some third party. It is also distinct from dividend which is paid by a company to its shareholders (owners) from its profit or reserve, but not at a particular rate decided beforehand, rather on a pro rata basis as a share in the reward gained by risk taking entrepreneurs when the revenue earned exceeds the total costs. For example, a customer would usually pay interest to borrow from a bank, so they pay the bank an amount which is more than the amount they borrowed; or a customer may earn interest on their savings, and so they may withdraw more than they originally deposited. In the case of savings, the customer is the lender, and the bank plays the role of the borrower. Interest diff ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Joseph A
Joseph is a common male given name, derived from the Hebrew Yosef (יוֹסֵף). "Joseph" is used, along with "Josef", mostly in English, French and partially German languages. This spelling is also found as a variant in the languages of the modern-day Nordic countries. In Portuguese and Spanish, the name is "José". In Arabic, including in the Quran, the name is spelled '' Yūsuf''. In Persian, the name is "Yousef". The name has enjoyed significant popularity in its many forms in numerous countries, and ''Joseph'' was one of the two names, along with ''Robert'', to have remained in the top 10 boys' names list in the US from 1925 to 1972. It is especially common in contemporary Israel, as either "Yossi" or "Yossef", and in Italy, where the name "Giuseppe" was the most common male name in the 20th century. In the first century CE, Joseph was the second most popular male name for Palestine Jews. In the Book of Genesis Joseph is Jacob's eleventh son and Rachel's first son, and k ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Joseph Schumpeter
Joseph Alois Schumpeter (; February 8, 1883 – January 8, 1950) was an Austrian-born political economist. He served briefly as Finance Minister of German-Austria in 1919. In 1932, he emigrated to the United States to become a professor at Harvard University, where he remained until the end of his career, and in 1939 obtained American citizenship. Schumpeter was one of the most influential economists of the early 20th century, and popularized the term "creative destruction", which was coined by Werner Sombart. Early life and education Schumpeter was born in Triesch, Habsburg Moravia (now Třešť in the Czech Republic, then part of Austria-Hungary) in 1883 to German-speaking Catholic parents. Both of his grandmothers were Czech. Schumpeter did not acknowledge his Czech ancestry; he considered himself an ethnic German. His father owned a factory, but he died when Joseph was only four years old. In 1893, Joseph and his mother moved to Vienna. Schumpeter was a loyal supporter of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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