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System analysis of discounting function properties in stationary and non-stationary economies
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System analysis of discounting function properties in stationary and non-stationary economies
Annotation
PII
S042473880000006-5-1
Publication type
Article
Status
Published
Authors
Sataney Kurmanova 
Affiliation: Federal Research Center
Address: Russian Federation, Moscow
Edition
Volume 54 Issue 1
Pages
110-119
Abstract
The article is devoted to the system analysis of discounting methods in economic and financial systems under various macroeconomic environments. Appropriate definitions of stationarity and non-stationarity are given. For the first time the immanent properties and corresponding models of the time factor influence on financial flows in stationary and nonstationary conditions are considered. The most common methods of time factor accounting for simple and complex percentages are analyzed; the correctness of the compound interest and the mismatch of the simple percentage method to a number of specified required properties is proved. Mathematical formalization models of the indicated properties of weighting (discounting) functions are given. Theorems on the invariance, ranking of stationary financial systems on a discounting time base are proved. A number of statements (theorems) are developed; they are useful for analyzing the dynamics of financial flows distributed over time and may be used in assessing the comparative effectiveness of alternative investment projects with different immanent dynamics of financial flows.
Keywords
stationary and non-stationary economies, financial systems, time factor, weighting function, discounting function
Received
13.11.2018
Date of publication
14.11.2018
Number of purchasers
14
Views
2016
Readers community rating
0.0 (0 votes)
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References

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