Long-run Phillips curve
Definition: The long term relationship between unemployment and inflation.
Related glossary term: ...
Long-run industry supply curve A market supply curve showing the relationship between price and quantities forthcoming after firms have been allowed the time to enter into or exit from an industry, ...
long-run average total cost curve the curve that traces out the short-run average total cost curves, showing the lowest average total cost for each quantity produced as the firm expands in the long run. (8) ...
Long-run shut-down point - This is where the AR curve is tangential to the long-run average cost (LRAC) curve. The firm can just make normal profits.
LONG-RUN AVERAGE COST CURVE: A curve depicting the per unit cost of producing a good or service in the long run when all inputs are variable. The long-run average cost curve (usually abbreviated LRAC) can be derived in two ways.
long-run average cost curves
long-run production function and efficiency
returns to scale and isoclines
minimum efficient scale
plant capacity ...
Long-running discussion regarding limitations of the Gantt chart format, and alternatives, on Edward Tufte's website ...
the long-run (5-10 years) average production
or service volume of a firm; it takes into consideration
cyclical and seasonal fluctuations
normal cost system ...
For long-run neutrality to obtain exactly, the economy would also have to possess the 'Ricardian' property that makes bond-financed changes in government taxes inconsequential (see government debt and deficits and new classical macroeconomics).
2.
A firms long-run dividend-to-earnings ratio. The firms policy is to attempt to pay out a certain percentage of earnings, but it pays a stated dollar dividend and adjusts it to the target as base-line increases in earnings occur.
b = the long-run mean to which the interest rate reverts; the expected interest rate in the long run
a = the speed of reversion of the interest rate to its long-run mean (e.g.
The long-run pattern of economic growth and recession. According to the Centre for International Business Cycle Research at Columbia University, between 1854 and 1945 the average expansion lasted 29 months and the average contraction 21 months.
Target payout ratio A firm's long-run dividend-to-earnings ratio. The firm's policy is to attempt to pay out a certain percentage of earnings, ...
Economic growth whose long-run rate depends on behavior and/or policy.
Endogenous protection
Protection that is explained as the outcome of economic and/or political forces. See political economy of protection.
Endogenous variable ...
Testing the null hyphotesis that = 0 would imply no long-run equilibrium level for RER. A further approach proposed by Meese e Rogoff (1988) tests the alternative hypothesis .
(mnp´l), market condition in which there is only one seller of a certain commodity; by virtue of the long-run control over supply, such a seller is able to exert nearly total control over prices.
Another way to think about P/E ratios is to be aware of what the long-run sustainable or justifiable P/E is in the case where the company only earns the "required return" on its retained earnings.
Barsky and De Long (1993) stated:“… changes in current and expected future dividends can account for the bulk of long-run stock price fluctuations, although much less so for short-term price movements.
To identify dividend-paying stocks that are going to give good total return over time the investor needs to study stock total return long-run averages. Further, what the investor is not getting from yield needs to be sought in growth and vice-versa.
endogenous growth model: An endogenous growth macro model is one in which the long-run growth rate of output per worker is determined by variables within the model, ...
In addition, managers must understand the goals of business owners: What is to be optimized, short-run or long-run performance goals? How much risk is to be undertaken in pursuit of an opportunity?
Mean reversion is a tendency for a stochastic process to remain near, or tend to return over time to a long-run average value. For example, interest rates and implied volatilities tend to exhibit mean reversion.
A macroeconomic term used to describe the real gross domestic product (GDP) is currently in excess of its long-run average, or some other historical measure.
Above Full-Employment Equilibrium - A macroeconomic term used to describe the real gross domestic product (GDP) is currently in excess of its long-run average, or some other historical measure.
Derive Aggregate Demand Curve
Fiscal Policy, Short-Run and Long-Run
Monetary Policy, Short-Run and Long-Run ...
Distributions are gained from actual occurrences in long-run experience and experimentation. An example is repeated trials under a constant-cause situation.
Solvency: A company's long-run ability to meet all financial obligations.
Sole Proprietorship: A business owned by one person.
The behavior of a variable in which the values for that variable move towards the long-run average value for that variable.
mechanic's lien ...
That is, organizations need to be structured in such a way so the agent will expect that diligently serving the interests of his or her principals will also be in his or her own long-run best interests.
 See also: Tip, Feedback, Perfect competition, Stats, Aggregate supply
  
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