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Bias |
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Bias1. Bias of technology, either change or difference, refers to a shift towards or away from use of a factor. The exact meaning depends on the definition of neutral used to define absence of bias. Factor bias matters for the effects of technological progress on trade and welfare. 2. Bias of a trade regime refers to whether the structure of protection favors importables or exportables, based on comparing their effective rates of protection. If these are equal, the trade regime is said to be neutral. 3. Bias of growth refers to economic growth through factor accumulation and/or technological progress and whether if favors one sector or another. Growth is said to be export biased if the export sector expands faster than the rest of the economy, import biased if the import-competing sector does so.Similar MatchesHome biasHome biasA preference, by consumers or other demanders, for products produced in their own country compared to otherwise identical imports. This was proposed by Trefler (1995) as a possible explanation for the mystery of the missing trade. Unbiased expectations hypothesisUnbiased expectations hypothesisTheory that forward exchange rates are unbiased predictors of future spot rates. See Forward parity. Skill-biasedSkill-biasedA technological change or technological difference that is biased in favor of using more skilled labor, compared to some definition of neutrality. Attribute biasAttribute biasThe tendency of stocks preferred by the dividend discount model to share certain equity attributes such as low price-earnings ratios, high dividend yield, high book value ratio, or membership in a particular industry sector. Short BiasShort BiasIn the context of hedge funds, a style of management where part or all of the fund consists of short sales. Further SuggestionsTrade biasBiased growth Export bias Import bias Factor bias |
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