Investment structure index

The performance of the Schumpeter Clock will be demonstrated by observing the non-equilibrium motion of the investment structure index Z t), or better of its fluctuating part z t), for the industrial sector in the Federal Republic of Germany over the period 1956-1979 which will be then explained by using micro-economically determined and supply side factor reinforced shifts of bias in the overall investment activities (Sect. 5.5). 

The relation between the investors configuration index (5.15) and the investment structure index (5.6) characterizing strategic investment now follows unambiguously by combining the postulated equations. The total expansionary investment E (t) and the total rationalizing investment R (t) at time t are given by... 

The result (5.21) shows that the fluctuating part z (0 of the investment structure index Z (t) is proportional to the investors configuration index x (t). Thus oscillations of the investors configuration will show up in oscillations of the investment structure index. 

During the late sixties after the neo-liberal incumbant government fell on the issue of a mere 3% inflation rate, the newly formed Grand Coalition in the Federal Republic of Germany resorted to a massive expansionary policy programme. Its effect on the investment structure index is clearly visible as an all-time peak in 1969/1970 ca lled the Schiller Effect after Schiller, the accomplished Keynesian economist, who became both minister of finance and of... 

Fig. 5.11. Path of the short term component z (r) of the investment structure index (—) and of the...

The model is not designed to predict the investment structure index. But it can be used for diagnostic purposes If the data are meaningful and the model is reasonable, which the authors believe, then industry in the Federal Republic is... 

The examples from SciFinder and the Merck Index are not intended to question the quality of these products, which we consider to be outstanding. They are invaluable resources to many chemists worldwide, and the error rate in these two databases is insignificant if one takes into account the enormous volume of indexed data. One of us has published a structure-activity paper on HIV-protease inhibitors [31] where a modified peptide was present in both the training set and the test set. Al Leo of Pomona College has recently [32] detected 100 chemical and name errors in the printed version of the sixth edition of Burger s Medicinal Chemistry [33], errors that will be corrected in the on-line edition [34]. One can never be too careful in verifying the available information, in particular if one is to invest a significant amount of resources in that area. 

Finally, there are a number of structured derivative products often marketed as new asset classes. Such products are usually perturbations of existing assets. For example, enhanced index products are typictdly a weighted combination of exposure to a specific equities or bond class, augmented with exposure to a particular hedge fund strategy. Similarly, yield-enhanced cash substitutes with principal guarantee features are composed of zero coupon Treasuries with the residual cash invested in options or other derivatives. Such products are part hedge fund and part primary asset from an allocation perspective and are better viewed as implementation vehicles rather than incorporated exphcitly in the asset allocation. 

Interest rate or term structure risk stems from movements in the benchmark interest rate curve. Excluding exchange rate risk, it is the main source of risk for most investment-grade bonds. Any reasonable model will include markets that are stable and actively traded. A typical coverage, taken from JP Morgan GBI Broad Index, is shown in Exhibit 23.1. Note the presence of two emerging markets. 

Fortunately for the investment community, there are alternatives to calculating tracking error that give an accurate idea of where a portfolio s risks lie. These methods start with understanding the exposures of a portfolio relative to its benchmark, along several dimensions such as duration, term structure, rating, sector, and issuer. They then create interest rate and credit spread scenarios for different future time periods and perform a what-if analysis on the portfolio and the benchmark for these scenarios. These scenarios should encompass both expected and extreme conditions (best and worst case) in order to generate a return profile, both absolute and relative to the index, as well as to identify key thresholds. 

This article collected eight engineering construction progress, quality, safety, investment performance evaluation index system of data, and the method of SPSS 16.0 was used in the fourth round of the evaluation index of reliability analysis. Then the evaluation system of overall and various indicators of a coefficient, namely the a is 0.842 in the overall project, the a is 0.828 before construction, the a is 0.833 in the construction period, and the a is 0.834 after the construction. Therefore, the evaluation system of the internal structure is the basic consistent, which could achieve the basic requirements of evaluation theory. 

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