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Substitution swap |
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Substitution swapA swap in which a money manager exchanges one bond for another bond that is similar in terms of coupon, maturity, and credit quality, but that offers a higher yield.Substitution swap Similar MatchesConstant elasticity of substitution functionConstant elasticity of substitution functionSee CES function Import substitution development strategyImport substitution development strategyA development strategy followed by many Latin American countries and other LDCs that emphasize import substitution-accomplished through protectionism-as the route to economic growth. Substitution effectSubstitution effectThat portion of the effect of price on quantity demanded that reflects the changed tradeoff between the good and other alternatives. Contrasts with income effect. Elasticity of substitutionElasticity of substitutionThe elasticity of the ratio of two inputs to a production (or utility) function with respect to the ratio of their marginal products (or utilities). With competitive demands, this is also the elasticity with respect to their price ratio. For example, with factors L,K and factor prices w,r, the elasticity of substitution of a production function F(K,L) is s = (wL/rK)d(K/L)/d(w/r). Same day substitutionSame day substitutionOffsetting changes in a margin account during the day that result in no overall change in the balance of the account. Further SuggestionsImport substitutionMarginal rate of substitution Asset substitution No Substitution |
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