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Indexed Unit Of Account
A daily indexed unit of account or Daily Consumer Price Index (Daily CPI) can be used in contracts or in the Capital Maintenance in Units of Constant Purchasing Power accounting model, to ensure that deferred payments and constant real value non-monetary items are indexed to the general price level in terms of a Daily Index. This is done so that the real value of these items is not affected by changes in the inflation rate (in the case of monetary items) or by the stable measuring unit assumption (in the case of constant real value non-monetary items). Non-indexed units, such as contracts written in nominal currency units and nominal monetary items, incur inflation or deflation risk in the case of monetary items. During all periods of inflation, the debtor pays less in real terms than what both the debtor and creditor agreed at the original time of the contract or sale. On the other hand, in periods of deflation, the debtor pays more in real terms than the original agreed value. Th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Consumer Price Index
A consumer price index (CPI) is a statistical estimate of the level of prices of goods and services bought for consumption purposes by households. It is calculated as the weighted average price of a market basket of Goods, consumer goods and Service (economics), services. Changes in CPI track changes in prices over time. The items in the basket are updated periodically to reflect changes in consumer spending habits. The prices of the goods and services in the basket are collected (often monthly) from a sample of retail and service establishments. The prices are then adjusted for changes in quality or features. Changes in the CPI can be used to track inflation over time and to compare inflation rates between different countries. While the CPI is not a perfect measure of inflation or the cost of living, it is a useful tool for tracking these economic indicators. It is one of several Price index, price indices calculated by many national statistical agencies. Overview A CPI is ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
William Stanley Jevons
William Stanley Jevons (; 1 September 1835 – 13 August 1882) was an English economist and logician. Irving Fisher described Jevons's book ''A General Mathematical Theory of Political Economy'' (1862) as the start of the mathematical method in economics. It made the case that economics, as a science concerned with Real versus nominal value (economics), quantities, is necessarily mathematical. In so doing, it expounded upon the "final" (marginal) utility theory of value. Jevons' work, along with similar discoveries made by Carl Menger in Vienna (1871) and by Léon Walras in Switzerland (1874), marked the opening of a new period in the history of economic thought. Jevons's contribution to the Marginal utility#Marginal Revolution, marginal revolution in economics in the late 19th century established his reputation as a leading political economist and logician of the time. Jevons broke off his studies of the natural sciences in London in 1854 to work as an metallurgical assay, ass ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Unidad De Valor Constante
The Unidad de Valor Constante (UVC) was a currency created by the " Ley de Valores" of Ecuador in 1993, and abolished with dollarization in the presidency of Jamil Mahuad on January 9, 2000. It was meant to help deal with the high levels of inflation experienced under the sucre. The 1 UVC was specified at its introduction (May 28, 1993) to equal 10,000 sucres. Its value was adjusted daily by the "Instituto Nacional de Estadísticas y Censos" (INEC) in line with the rate of inflation. It had the ISO 4217 currency code ISO 4217 is a standard published by the International Organization for Standardization (ISO) that defines alpha codes and numeric codes for the representation of currencies and provides information about the relationships between individ ... ECV. References Currencies of Ecuador Modern obsolete currencies {{Ecuador-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mexican Unidad De Inversion
Mexican may refer to: Mexico and its culture *Being related to, from, or connected to the country of Mexico, in North America ** People *** Mexicans, inhabitants of the country Mexico and their descendants *** Mexica, ancient indigenous people of the Valley of Mexico ** Being related to the State of Mexico, one of the 32 federal entities of Mexico ** Culture of Mexico *** Mexican cuisine *** historical synonym of Nahuatl, language of the Nahua people (including the Mexica) Arts and entertainment * "The Mexican" (short story), by Jack London * "The Mexican" (song), by the band Babe Ruth * Regional Mexican, a Latin music radio format Films * ''The Mexican'' (1918 film), a German silent film * ''The Mexican'' (1955 film), a Soviet film by Vladimir Kaplunovsky based on the Jack London story, starring Georgy Vitsin * ''The Mexican'', a 2001 American comedy film directed by Gore Verbinski, starring Brad Pitt and Julia Roberts Other uses * USS ''Mexican'' (ID-1655), United State ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
WCU – World Currency Unit
There are two different types of world currency unit in use today that have different origins and usages. History The WCU was proposed by Lok Sang Ho of Lingnan University, Hong Kong. The WCU was first intended to be the basis for denominating global bonds, a debt instrument that is issued globally and is subscribable by people and institutions around the world. Simply put, it is a GDP-weighted basket of key currencies each of which is indexed against inflation for the relevant countries. The WCU is defined with respect to a base year, so that each unit represents the same global purchasing power as at that base year, when it is equal to US$1. If there is inflation, the WCU will be worth more than $1 after the base year, but will represent the same purchasing power. The unindexed basket, called the benchmark basket of key currencies, is the basis for the derivation of effective exchange rate indices that has been demonstrated to be both easy to compile and superior to most o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Constant Item Purchasing Power Accounting
Constant purchasing power accounting (CPPA) is an accounting model that is an alternative to model historical cost accounting under high inflation and hyper-inflationary environments. It has been approved for use by the International Accounting Standards Board ( IASB) and the US Financial Accounting Standards Board ( FASB). Under this IFRS and US GAAP authorized system, financial capital maintenance is always measured in units of constant purchasing power (CPP) in terms of a Daily CPI (consumer price index) during low inflation, high inflation, hyperinflation and deflation; i.e., during all possible economic environments. During all economic environments it can also be measured in a monetized daily indexed unit of account (e.g. the Unidad de Fomento in Chile) or in terms of a daily relatively stable foreign currency parallel rate, particularly during hyperinflation when a government refuses to publish CPI data. Authorized by the IASB during low inflation In the IASB's original F ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Robert Shiller
Robert James Shiller (born March 29, 1946) is an American economist, academic, and author. As of 2022, he served as a Sterling Professor of Economics at Yale University and is a fellow at the Yale School of Management's International Center for Finance. Shiller has been a research associate of the National Bureau of Economic Research (NBER) since 1980, was vice president of the American Economic Association in 2005, its president for 2016, and president of the Eastern Economic Association for 2006–2007. He is also the co‑founder and chief economist of the investment management firm MacroMarkets LLC. Shiller is known for four major intellectual contributions: 1) he co-developed the Case-Shiller housing price index, which uses a statistical technique to value a house based upon recent sales prices of other houses; 2) he challenged the Efficient Market Hypothesis (EFM), using a statistical model that showed that the U.S. stock market was more volatile than it should be if the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Alfred Marshall
Alfred Marshall (26 July 1842 – 13 July 1924) was an English economist and one of the most influential economists of his time. His book ''Principles of Economics (Marshall), Principles of Economics'' (1890) was the dominant economic textbook in England for many years, and brought the ideas of supply and demand, marginal utility, and costs of production into a coherent whole, popularizing the modern Neoclassical economics, neoclassical approach which dominates microeconomics to this day. As a result, he is known as the father of scientific economics. Life and career Marshall was born at Bermondsey in London, the second son of William Marshall (1812–1901), a clerk and cashier at the Bank of England, and Rebecca (1817–1878), daughter of butcher Thomas Oliver, from whom, on her mother's death, she inherited property. Marshall had two brothers and two sisters; a cousin was the economist Ralph George Hawtrey, Ralph Hawtrey. The Marshalls were a West Country clergy, clerical f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
John Stuart Mill
John Stuart Mill (20 May 1806 – 7 May 1873) was an English philosopher, political economist, politician and civil servant. One of the most influential thinkers in the history of liberalism and social liberalism, he contributed widely to social theory, political theory, and political economy. Dubbed "the most influential English-speaking philosopher of the nineteenth century" by the ''Stanford Encyclopedia of Philosophy'', he conceived of liberty as justifying the freedom of the individual in opposition to unlimited state and social control. He advocated political and social reforms such as proportional representation, the emancipation of women, and the development of labour organisations and farm cooperatives. The ''Columbia Encyclopedia'' describes Mill as occasionally coming "close to socialism, a theory repugnant to his predecessors". He was a proponent of utilitarianism, an ethical theory developed by his predecessor Jeremy Bentham. He contributed to the investigation ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Purchasing Power
Purchasing power refers to the amount of products and services available for purchase with a certain currency unit. For example, if you took one unit of cash to a store in the 1950s, you could buy more products than you could now, showing that the currency had more purchasing power back then. If one's income remains constant but prices rise, their purchasing power decreases. Inflation does not always result in decreased purchasing power, especially if income exceeds price levels. A larger real income means more purchasing power, as it corresponds to the income itself. Traditionally, the purchasing power of money depended heavily upon the local value of gold and silver, but was also made subject to the availability and demand of certain goods on the market. Most modern fiat currencies, like US dollars, are traded against each other and commodity money in the secondary market for the purpose of international Balance transfer, transfer of payment for goods and services. Scottish ec ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Journal Of Policy Reform
A journal, from the Old French ''journal'' (meaning "daily"), may refer to: *Bullet journal, a method of personal organization *Diary, a record of personal secretive thoughts and as open book to personal therapy or used to feel connected to oneself. A record of what happened over the course of a day or other period *Daybook, also known as a general journal, a daily record of financial transactions *Logbook, a record of events important to the operation of a vehicle, facility, or otherwise * Transaction log, a chronological record of data processing * Travel journal, a record of the traveller's experience during the course of their journey In publishing, ''journal'' can refer to various periodicals or serials: *Academic journal, an academic or scholarly periodical **Scientific journal, an academic journal focusing on science ** Medical journal, an academic journal focusing on medicine ** Law review, a professional journal focusing on legal interpretation *Magazine, non-academic or ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Unidad De Fomento
The Unidades de Fomento (UF) is a unit of account. It is a non-circulating currency; the exchange rate between the UF and the Unidades de Fomento is constantly adjusted for inflation so that the purchasing power of the Unidad de Fomento remains almost constant on a daily basis during low inflation. It was created on 20 January 1967, for the use in determining the principal and interest in international secured loans for development, subject to revaluation according to the variations of inflation. Afterwards it was extended to all types of bank loans, private or special financing, purchases and investments on instalments, contracts, and some special situations. It is also used in legal standards such as the par value of stock and capitalization of companies, and fines. It has become the preferred and predominant measure to determine the cost of real estate, values of housing and any secured loan, either private or of the Chilean government. Individual payments are made in Chilean ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
