| 词汇 | example_english_liability |
| 释义 | Examples of liabilityThese examples are from corpora and from sources on the web. Any opinions in the examples do not represent the opinion of the Cambridge Dictionary editors or of Cambridge University Press or its licensors. Note, the figures zero out in each year as financial assets and liabilities are opposite sides in the creation of a financial claim. We can see from this that there has been a rise in the reliance on current liabilities in 1988 compared to 1984. Specifically, this means provided they are prepared to work with a smaller ratio of balances/ liabilities. As with other intermediaries, the nature of these liabilities influences the composition of the asset portfolio. In fact, their balance sheets are now smaller by the loss of securities on the asset side and of deposit liabilities. The bias deserves attention and correction, but in ways that do not exaggerate its liabilities or overlook its virtues. Life insurance funds invest more in fixed interest securities because a large part of their liabilities is in nominal terms. Both the assets and the liabilities of the personal sector have been rising rapidly over the past ten years. Apparently challengers who are disadvantaged in terms of resources and name recognition offer moderate positions in an attempt to compensate for their non-policy liabilities. He is not unmindful of their shortcomings but is at great pains to explain that these liabilities can be overcome. Decisions about subject and institution might reflect an assessment of one's biographical liabilities rather than one's academic interests. If it accepted that the asset allocation of a pension fund should match the liabilities, the derivation of the entire efficiency frontier is unnecessary. However, pension liabilities can also increase as a result of a decrease in the discount rate. His article shows the implications for government finance of introducing consistent accounting for unfunded public sector and private sector liabilities. The matching portfolio for nominal liabilities is an appropriate mix of (zero-coupon) nominal bonds. When assets fall below liabilities a 'balancing mechanism ' is activated and the growth rate of the average covered wage is multiplied by the funding ratio. Pareto-ranked multiple equilibria exist with the extent of the market and circulation of private liabilities endogenously determined. Shortfall was measured relative to the real (indexed) value of the liabilities. As regards investment strategies, nominal liabilities could be matched or immunised, usually using long-term bonds. Also, taxes and transfers are equal to zero, so, in particular, they do not depend on the monetary authority's liabilities. If the value of plan assets reaches the sum of liabilities plus normal cost, the amortization base automatically resets to zero. The debate concerning hedging instruments for pension liabilities has been largely conducted in terms of correlations. The unbacked government liabilities can be interpreted as unbacked government debt paying zero nominal return, combined with the monetary base. The temporal direction of explanation involves explaining present events (present exercises of powers or liabilities) by past events (past exercises of powers or liabilities). Commercial banks, in turn, advance short-term credits, matching the shortest term of their liabilities. The assessment of the liabilities of the system is straightforward. When assets are equal or above pension liabilities, contributions/pensions are revalorized/indexed by the growth rate of the covered average wage. The ratio between liabilities and total wages is expected to rise from approximately 2.5 now to 4.5 in 2030. To assess solvency, assets are compared with the random present value of liabilities. The value of liabilities can be determined by looking at the price at which a reference portfolio is traded in a liquid market. As a result, one might find that high returns are correlated with even higher liabilities, producing a total negative return. Managing for returns might not be optimal from the point of view of the sponsoring firm, as common factors drive assets and liabilities. Talk about states of the universe can be translated into talk about things, their powers and liabilities, and the exercise of these powers and liabilities. Unfunded liabilities are eliminated under these parameter settings. The reason is that the government now collects lots of revenue in the good states of the world (negative liabilities). They would prefer to develop their own plans, with funds that they controlled, rather than entering a public system whose liabilities may exceed its assets. The size of the surplus has an independent effect on investment from the nature of liabilities. The cover ratio is the ratio between the assets and the present value of all future liabilities. Both cover ratios and reserves declined between 2000 and 2002, reflecting adverse market conditions and the relatively stable or even increasing liabilities of pension funds. However, stocks also should be viewed as a hedge against a potential increase in pension liabilities. The larger the projected returns on assets, the lower the liabilities and the higher the funded ratio. As there is movement towards more ' fair value ' accounting of insurance liabilities, this article suggests there will be potential effects on private pension annuities markets. Recently, due to changes in the supervisory and accounting rules, pension funds are required to value their liabilities at market prices. Such a strategy will lead to an explosive behavior of financial liabilities, which is actually the basis of the fiscal theory of the price level. With net foreign currency liabilities, devaluations erode net worth. If is greater than 1, this actually corresponds to an expansion of government liabilities. Therefore, a larger fraction of government liabilities is subject to the interest payments. In the light of these results, the government's fiscal policy is sustainable even when the ' traditional ' debt stock is adjusted for other public liabilities. A typical characteristic of these average-salary schemes is that indexation of all accrued liabilities is made dependent on the solvency position of the pension fund. In all cases, the managers of the pension plan should have access to up-to-date financial information, including the evaluation of the liabilities of the plan. In the long term, this strategy has advantages in terms of containing public sector liabilities, but involves further downgrading the contributory principle. Typically, this is done by discounting the liabilities with a market interest rate for loans with the same maturity and risk characteristics. The book opens with a presentation of the fundamentals of actuarial mathematics and the valuation of pension assets and liabilities. While friendly princes were assets, however, uncooperative ones could be liabilities; they might obstruct attempts to exploit their resources or to modernize their governments. False self-behavior is associated with liabilities including devaluation of false self-attributes, low self-esteem, and depressive reactions. Assuming that theism is true, these circumstances necessarily include certain rather severe ' liabilities ' with respect to knowledge. He also says an ultimate explanation is an explanation of ' things now ' and of the present powers and liabilities of things (p. 42). Of course, it made external debt more onerous over time as it diluted domestic liabilities on paper. Another measure to protect users and other counterparties against possible liabilities would be to establish a compulsory insurance regime for agent-related activities. As the investment banks' liabilities became shorter, a similar trend was observable on the asset side. Actually, if satisfies (25), then from (24) the ratio of financial liabilities to income will be explosive. Unfortunately, pension funds that have outsourced investments but not reinsured their liabilities are not captured by this variable. A pension fund is deemed underfunded if the present value of all future liabilities is higher than the value of its assets. The analysis also indicates an influence of age and liabilities on other asset holdings. The funds' balance sheet liabilities, in turn, reflect the age profile of the funds' membership and expected benefits payouts. If the credit of the institution deteriorates, this affects the pricing of its liabilities, even if the institution itself does not collapse. The computation begins by discretizing the continuous-state variables (assets and liabilities). Pension fund liabilities are linked explicitly or implicitly to average earnings, which grow in real terms. Finally, more emphasis should be placed on the ' value ' of pension liabilities. There are some empirical studies that have considered the salary, inflation, discount rate and other risks together by looking at total liabilities. In valuing the liabilities of the pension scheme, the actuary has to select a discount rate. Indeed, many firms appear to increase their pension liabilities through such conversions. One view states that bonds are the only way to match assets with liabilities, while the contradicting view recommends equity exposures. Practical issues in immunising pension liabilities against interest rate changes - notably the lack of suitable long-term assets to match pension liabilities - are well covered. Generally, the employer is responsible for the liabilities of the plan in its role as residual payer. Each agent j decides his optimal portfolio of financial assets and liabilities in order to satisfy the conditions set out in (7) and (8). There are no such relations as bailment or carrier creates - and no such liabilities imposed. In addition, we assume a record-keeping technology in the organized markets so that issuance and redemption of private liabilities by merchants is possible. An increase in the inflation rate (due to a positive aggregate-demand shock and a negative aggregate-supply shock) decreases the real value of nominal government liabilities. Large companies reduce liabilities, generally in the income tax category, by relying on sophisticated tax avoidance procedures. Notably, we should entertain the possibility that technological and contractual innovation also affects the liquidity services and costs for financial liabilities. Particular models differ according to who incurs the liabilities and why. We see that the government should engineer a minimal rate of expansion of its financial liabilities. Nevertheless, they found ways of overcoming these liabilities. Both political economists and policymakers during the antebellum period recognized the potential dangers of this sort of mismatch between bank assets and liabilities. First, the liabilities to a disorder as assessed by selfreport and by family history may differ. If we did know these things with absolute certainty, then these abilities would be liabilities for us. The third reason concerns the legal liabilities taken on by private sector suppliers. We also and apply these methods to the specific case of pension liabilities, which have unhedgeable wage-indexation risk. We should be using these rather than the discount rate to value today's liabilities. Proposition 2 says that when used with or without the standardization approach, the state-contingent tax (6e) reduces unfunded liabilities even more. What are the best ways for pension funds to match assets and liabilities ? At the same time, funded pensions create capital market issues in that pension liabilities remain largely unmarketable. The best that standardization can do is to reduce liabilities by 100 % by guaranteeing a portfolio with enough bonds. Life insurers are better able to control the duration of liabilities via the mix of policies sold. Defined contribution liabilities resemble more closely those of a mutual fund, having no guarantee element. We show how considerations differ between life insurance companies and pension funds, depending largely on differences in liabilities. In effect, their liabilities are typically denominated in real terms and are not fixed in nominal terms. Since the liabilities arise at various dates in the future, they must be discounted back to the present. These examples are from corpora and from sources on the web. Any opinions in the examples do not represent the opinion of the Cambridge Dictionary editors or of Cambridge University Press or its licensors. |
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