The long-term growth rate of evolving software: Empirical results and implications

2017 ◽  
Vol 29 (5) ◽  
pp. e1847 ◽  
Author(s):  
Les Hatton ◽  
Diomidis Spinellis ◽  
Michiel van Genuchten
Keyword(s):  
Growth Rate ◽  
Empirical Results

ON THE CONSUMPTION/DISTRIBUTION THEOREM UNDER THE LONG-RUN GROWTH CRITERION SUBJECT TO A DRAWDOWN CONSTRAINT

2010 ◽  
Vol 13 (06) ◽  
pp. 931-957 ◽  
Author(s):  
MICHAEL J. KLASS ◽  
KRZYSZTOF NOWICKI
Keyword(s):  
Growth Rate ◽  
Short Term ◽  
Long Run ◽  
Time Period ◽  
Total Capital ◽  
Growth Criterion ◽  
Drawdown Constraint ◽  
Riskless Asset ◽  
Distribution Theorem

Consider any discrete time sequence of investment fortunes Fn which has a finite long-run growth rate [Formula: see text] when subject to the present value capital drawdown constraint Fne-rn ≥ λ* max 0≤k≤nFke-rk, where 0 ≤ λ* < 1, in the presence of a riskless asset affording a return of er dollars per time period per dollar invested. We show that money can be withdrawn for consumption from the invested capital without either reducing the long-run growth rate of such capital or violating the drawdown constraint for our capital sequence, while simultaneously increasing the amount of capital withdrawn for consumption at the identical long-term rate of V(r, λ*). We extend this result to an exponentially increasing number of consumption categories and discuss how additional yearly contributions can temporarily augment the total capital under management. In addition, we assess the short-term practicality of creating such an endowment/consumption/distribution program.

The Effects of Reduced Salinity on the Shell Growth of Small Mytilus Edulis

1984 ◽  
Vol 64 (1) ◽  
pp. 171-182 ◽  
Author(s):  
Patricia C. Almada-Villela
Keyword(s):  
Growth Rate ◽  
Mytilus Edulis ◽  
High Salinity ◽  
Shell Growth ◽  
Experimental Period ◽  
Gradual Decline ◽  
Poor Growth ◽  
Term Response ◽  
Better Than

The shell growth of small coastal Mytilus edulis L. was measured at three different constant low salinities over short periods of time. Growth was significantly depressed in 6·4 and 16‰ S but not in 22·4‰ S. Fluctuating salinities between 0 and 32‰ S depressed growth whether the fluctuations were of sinusoidal or abrupt form. After 1 week of preconditioning to constant 32‰ S the growth of coastal (Bangor) mussels was better than estuarine (Conwy) mussels. However, after two weeks’ preconditioning to 32‰ S the estuarine mussels displayed the best growth. In the fluctuating regime, both coastal and estuarine mussels exhibited poor growth rates. The long-term response of the shell growth of coastal M. edulis was followed over a period of 44 days. Salinities in the range 1·8–9·6‰ S were lethal to the mussels within 10 days. In 12·8 and 16‰ S growth was initially delayed but recovered eventually. There was a gradual decline in the growth rate of the mussels exposed to the higher salinities (19·2–32‰) and an improvement in the growth of the mussels living in lower salinities (12·8 and 16‰) to levels nearly matching that of the high salinity animals by day 37. This suggests that acclimation of the shell growth of M. edulis to salinities in the 12·8–28·8‰ S range was achieved by the mussels during the experimental period.

Walleye (Stizostedion vitreum vitreum) and Yellow Perch (Perca flavescens) Populations and Fisheries of the Red Lakes, Minnesota, 1930–75

1977 ◽  
Vol 34 (10) ◽  
pp. 1774-1783 ◽  
Author(s):  
Lloyd L. Smith Jr.
Keyword(s):  
Growth Rate ◽  
Yellow Perch ◽  
Climatic Factors ◽  
Perca Flavescens ◽  
Growing Season ◽  
Commercial Fishery ◽  
Class Strength ◽  
Parent Stock ◽  
Catch Statistics

In an investigation of the commercial fishery of Red Lakes, Minnesota, for the 46-yr period 1930–75, catch statistics were analyzed, and the dynamics of the perch and walleye populations were examined. Mean annual yields of walleye for two statistical periods, 1930–53 and 1954–75, were 309,900 and 245,100 kg, respectively for walleyes, and 96,400 and 109,500 kg for perch. Annual abundance (CPE based on average catches per day per 5-net units of gill nets) varied from 3.8 to 64.6 kg for walleye, and from 2.5 to 34.4 kg for perch. Causes of fluctuations in harvestable stock were directly related to strength of year-classes and to growth rate during the season of capture. Year-class strength was not related to the abundance of parent stock or of potential predators. The respective strengths of year-classes of perch and walleye in the same year were positively correlated (r = 0.859, P < 0.01), and are directly related to climatic factors. Growth rate of walleye in different calendar years varied from +30.7 to −42.2% of mean growth, and that of perch from +13.4 to −8.6% (1941–56). Growing season began in mid-June and was almost over by September 1. Walleye yield could be enhanced by starting harvest July 1 instead of early June. Perch yield could be improved by harvesting small perch. Key words: Percidae, Perca, population dynamics, Stizostedion, long-term yield

The performance of pregnant and lactating Merino ewes and their lambs fed survival rations of wheat grain and sawdust

1978 ◽  
Vol 18 (90) ◽  
pp. 34 ◽  
Author(s):  
RA Hunter
Keyword(s):  
Growth Rate ◽  
Birth Weight ◽  
Survival Rate ◽  
Wheat Grain ◽  
Term Survival ◽  
Feeding Level ◽  
Wool Growth ◽  
Eucalyptus Maculata ◽  
Maintenance Ration

Merino ewes were mated at pasture and then fed in pens either a maintenance or an 80 per cent maintenance ration of wheat grain three times a week. Half the animals at each feeding level were offered Spotted Gum (Eucalyptus maculata) sawdust. Addition of sawdust to the ration did not affect liveweight change and the wool growth rate of ewes or the birth weight and growth rate of lambs. It did, however, affect the long-term survival rate of ewes. Of the ewes that died after three months of survival feeding, four were in groups fed wheat alone and one in a group fed sawdust with the wheat. The survival rate and growth rate of lambs in all treatments were poor.

scholarly journals Assessing the Fiscal Sustainability of Government Finances in European Countries

2013 ◽  
Vol 52 (1) ◽  
pp. 87-93
Author(s):  
Yuriy Melnykov
Keyword(s):  
Growth Rate ◽  
Time Series ◽  
Interest Rate ◽  
Unit Root ◽  
Statistical Approach ◽  
Fiscal Sustainability ◽  
European Countries ◽  
Gdp Growth ◽  
Gdp Growth Rate

This paper analyses the fiscal sustainability of government finances in the 27 EU countries and Norway using an empirical, statistical approach and ADF tests for a unit root in the time series of the differences between the GDP growth rate and the long-term interest rate, and the primary balance.

scholarly journals Prospects for Vietnam’s Economy in 2013

2013 ◽  
Vol 215 ◽  
pp. 02-11
Author(s):  
NGÂN TRẦN HOÀNG
Keyword(s):  
Economic Growth ◽  
Growth Rate ◽  
World Economy ◽  
Inflation Rate ◽  
Economic Restructuring ◽  
Short Term ◽  
Economic Growth Model ◽  
The World ◽  
Global Growth

In 2012, Vietnam?s economy faced great challenges. The world economy experienced more difficulties and complicated upheavals. International trade fell drastically while global growth rate was lower than predicted target, which affected badly the Vietnamese economy because of its full integration into the world economy and large openness. In this context, principal targets set for 2013 are macroeconomic stability, lower inflation rate, higher growth rate, three strategic breakthroughs associated with restructuring of the economy, and a new economic growth model. This paper analyzes obstacles to Vietnam?s economic growth, and offers short-term solutions to bottlenecks and long-term ones to the economic restructuring.

An Evaluation of RNA–DNA Ratio as a Measure of Long-Term Growth in Fish Populations

1973 ◽  
Vol 30 (2) ◽  
pp. 195-199 ◽  
Author(s):  
Terry A. Haines
Keyword(s):  
Growth Rate ◽  
Population Growth ◽  
Growth Rates ◽  
Population Growth Rate ◽  
Environmental Changes ◽  
Age Distribution ◽  
Smallmouth Bass ◽  
Fish Populations ◽  
Population Growth Rates

The value of RNA–DNA ratio as a measure of long-term growth of fish populations under semi-natural conditions and when subjected to environmental manipulations was determined. Populations of carp and smallmouth bass of known age distribution were established in artificial ponds maintained at two fertility levels. After 15 months, population growth rates (as percent increase in weight) and RNA–DNA ratios of muscle tissue from selected fish were measured. Each species exhibited a range of population growth rates. The relation between population growth rate and individual fish RNA–DNA ratio for each species was significant. When reproduction occurred, the relation was not significant unless young-of-the-year fish were excluded from population growth rate calculations. Age of fish was also found to have an important effect on RNA–DNA ratio, with the ratio being higher in younger fish.RNA–DNA ratio can be a reliable indicator of long-term population growth in fish when population age structure is known and recruitment is controlled. The method has potential for use in detecting response to environmental changes before growth rate changes become severe.

Questioning the effect of the real exchange rate on growth: new evidence from Mexico

2021 ◽  
Vol 9 (2) ◽  
pp. 253-269
Author(s):  
Florencia Médici ◽  
Augustín Mario ◽  
Alejandro Fiorito
Keyword(s):  
Economic Growth ◽  
Exchange Rate ◽  
Real Exchange Rate ◽  
Public Expenditure ◽  
Institutional Arrangements ◽  
Relative Price ◽  
The Real ◽  
Empirical Results ◽  
New Evidence

This study provides new evidence showing that the real exchange rate (RER) does not play an important role in the growth of Mexican GDP. Economic growth is not an automatically predetermined result of relative price correction, and it is important to consider distinctive aspects of national institutional arrangements (fiscal and monetary, for example) for understanding theoretical causality of demand. The empirical results show public expenditure is an overlooked variable in regressions where the exchange rate affects product growth. After incorporating public expenditure, the RER impact on growth becomes insignificant. For its part, public expenditure has a positive and significant effect on GDP in the long term. The RER does not lead to greater GDP since exports are not stimulated through price.

Applying the Fama and French three-factor model to analyze risk/reward in the Spanish REITs: an ARDL approach

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Zhenyu Su ◽  
Paloma Taltavull
Keyword(s):  
Growth Rate ◽  
Factor Model ◽  
Explanatory Power ◽  
Gdp Growth ◽  
Size Factor ◽  
Content Type ◽  
Gdp Growth Rate ◽  
Fama And French ◽  
Three Factor

Purpose This paper aims to analyse the risk and excess returns of the Spanish real estate investment trusts (S-REITs) using various methods, though focusing primarily on the Fama-French three-factor (FF3) model, over the period from 2007Q3 to 2017Q2. Design/methodology/approach The autoregressive distributed lag model is used for the empirical analysis to test long-term stable relationships between variables. Findings The findings indicate that the FF3 model is suitable for the S-REITs market, better explaining the S-REITs’ returns variation than the traditional single-index capital asset pricing model (CAPM) and the Carhart four-factor model. The empirical evidence is reasonably consistent with the FF3 model; the values for the market, size and value are highly statistically significant over the analysis period, with 68.7% variation in S-REITs’ returns explained by the model. In the long run, the market factor has less explanatory power than the size and value factors; the positive long-term multiplier of the size factor indicates that small S-REIT companies have higher returns, along with higher risk, while the negative multiplier of the value indicator suggests that S-REITs portfolios prefer to allocate growth REITs with low book-to-market ratios. The empirical findings from a modified FF3 model, which additionally incorporates Spain’s gross domestic product (GDP) growth rate, two consumer price index (CPI) macro-factors and three dummy variables, indicates that GDP growth rate and CPI also affect S-REITs’ yields, while investment funds with capital calls have a small influence on S-REITs’ returns. Practical implications The regression results of the standard and extended FF3 model can help researchers understand S-REITs’ risk and return through a general stock pattern. Potential investors are given more information to consider the new Spanish investment vehicle before making a decision. Originality/value The paper uses standard techniques but applies them for the first time to the S-REIT market.

Data Growth Rate Problems and Problems with Long-term Data

1996 ◽  
pp. 956-993
Author(s):  
Walter Dieminger ◽  
Gerd K. Hartmann ◽  
Reinhart Leitinger
Keyword(s):  
Growth Rate ◽  
Term Data
Sign in / Sign up

Export Citation Format

Share Document