By Sidney Homer, Richard Sylla
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A heritage of rates of interest offers a truly readable account of rate of interest tendencies and lending practices over 4 millennia of monetary background. regardless of the paucity of knowledge sooner than the commercial Revolution, authors Homer and Sylla supply a hugely specified research of cash markets and borrowing practices in significant economies. Underlying the research is their statement that "the loose industry long term interest rates for any business state, thoroughly charted, offer a type of fever chart of the commercial and political future health of that nation." Given the large volatility of charges within the twentieth century, this means we're dwelling in age of political and financial excesses which are mirrored in titanic rate of interest swings. achieve extra perception into this statement via ordering a duplicate of this booklet this day.
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Extra info for A History of Interest Rates (4th Edition)
Also, a commission usually has its own staff and this staff can become bogged down in administrative detail, embroiling commissions in matters of procedure rather than in regulating the industry. " This means that many times commissioners "industry-mindedness. 1I ( ' ~'\ either start out with or gradually acquire the attitudes of the \ -41- industries they regulate. occuring. - electric utility industry as the people who work for it. when commissioners commi s s i oners want information i nf ormat i on on a technical techn i ca 1 Thus or non-technical aspect of the industry they customarily call upon members of the industry.
But when demand continued to increase a larger plant, plant size 3, had to be built and cost per unit increased. "- If this argument is correct, it means that greater efficiency would occur if the industry had more firms operating with plant size 2. That is, this argument leads to a breakdown in the idea that a natural monopoly exists in electricity generation. FIGURE 3-A Long Run Cost Per KWH u Output or Quantity Demanded The second possibility decreasing cost industry, absolute cost. is that the industry remains a but has experienced an increase in This means that the price of its inputs have increased and caused the cost curve to shift upward.
ATloo Es~IAI.. TO WEu=. FOR'IS SuBsTITUTES, CAses l. , ~ PlsLIC iNTEREST If'PLIED PoERS AND GoALS OF REGULATION ~J RATES &EARNINGS S~ SAFE' TYJ SeRvICE SERvICE AND EFFICIENCY PHD CoRP. FINANCE & INlERCORP. FIN. fcmLM'S & REPORTS GoALS INVESTORJ Cooslft:RJ CoosltERJ END IN VIEW 6a£RAL. l'\'lELFAREJ 6a£RAL APPENDIX The long run average cost curve is a composite of the cost of operating various sizes of plants. If the cost per unit decreases over the entire curve it looks like the one in FIGURE I-Abelow, and is said to reflect economies of scale* and hence decreasing cost, over its entire length.
A History of Interest Rates (4th Edition) by Sidney Homer, Richard Sylla