DefinitionA pension fund, also known as a superannuation fund in some countries, is any plan, fund, or scheme which provides retirement income. Pension Fund A pension fund is a fund that is established by an employer and consists of...
DefinitionThe Palisades Water Index is a modified equal-dollar weighted stock market index. It is designed to track the performance of companies engaged in the global water industry such as pump and filter manufacturers, water utilities, and irrigation equipment manufacturers....
DefinitionThe paradox of thrift is a paradox of economics. The paradox states that an increase in autonomous saving leads to a decrease in aggregate demand and thus a decrease in gross output which will in turn lower total saving....
DefinitionThe term patent cliff refers to the phenomenon of patent expiration dates and an abrupt drop in sales that follows for a group of products capturing high percentage of a market. Usually, these phenomena are noticed when they affect...
What is 'Passbook Loan' A personal loan extended to a savings-account holder by the custodial bank. Passbook loans use the balance of the savings account as collateral for the loan. The amount of the loan therefore cannot...
DefinitionA participation mortgage or participating mortgage is a mortgage loan, or sometimes a group of them, in which two or more persons have fractional equitable interests. In this arrangement the lender, or mortgagee, is entitled to share in the...
What is Pareto Improvement
Pareto Improvement is defined as a change to a situation which results in one person becoming better off without anyone else becoming worse off. The term was first coined by economist Vilfredo Pareto, who observed that...
What is 'Pairoff' 1. A purchase of securities to offset a previously transacted sale of the same security. 2. A transaction in securities markets where off-setting buy and sell trades are settled in cash, based...
DefinitionA with-profits policy or participating policy is an insurance contract that participates in the profits of a life insurance company. The company is often a mutual life insurance company, or had been one when it began its with-profits product...
What is 'Partially Convertible Debenture - PCD' A type of convertible debenture, part of which will be redeemed by the issuing company after a specified period of time and part of which is convertible into equity or...