base period

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Base period

A particular period of time used for comparative purposes when measuring economic data.
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Base Period

The period of time against which an index is measured. For example, suppose the base period is 2001 and the initial value of an index is 100. If the index is 150 in 2009, it means that the value of the index is 50% higher in 2009 than it was in 2001. It is also called the reference period.
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base period

The time or period of time on which an index is based. Usually, the index is established at a value of 10 or 100 in the base year. The consumer price index of 177 in early 2002 indicated that consumer prices were 77% higher than during the base period of 1982-84. The Standard & Poor's 500 Stock Index of 1300 in early March 2002 indicated that, on average, a portfolio of blue chip stocks with a market value of $10 during the period 1941-43 (the base period) had a market value of $1,300 in early 2002. The portfolio of stocks making up the S&P 500 underwent substantial changes during the intervening years.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.

base period

The point in time that serves as a reference for calculating financial and economic data.The base period value is usually set at 1.0 or 100, called the benchmark, for purposes of comparison,and then all other periods are either greater or less than the benchmark.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
Figure 6 shows how [DELTA][W.sub.diff] changes during the historical simulations for various CMIP5 models using rolling 30-yr reference periods. It is clear that different models behave in very different ways, warming more or less than the observations at different times.
This is partly because optimal reference periods are typically much longer, as the variability is larger relative to forced changes (see appendix D).
The number of years (in the 1861-2005 period) that the median of HadCRUT4.3 fails outside the specified CMIP5 confidence interval for different reference periods. Reference period >95% >75% <25% <5% Number expected 7 36 36 7 1861-2005 3 35 37 4 1861-90 1 10 50 8 1911-30 13 68 10 0 1961-90 1 27 31 2 1980-99 0 21 27 1 1976-2005 1 35 19 0 1986-2005 1 25 18 1
When comparing simulations with each other and with observations, it is standard practice to compare temperature anomalies with respect to a reference period. It is not always appreciated that the choice of reference period can affect conclusions, both about the skill of simulations of past climate and about the magnitude of expected future changes in climate.
Careful consideration of sensitivities to the choice of climate reference period is required to reliably compare climate models with observations and to produce robust projections of future climate.
For five of the six reference periods the difference is statistically significant with a market capitalization loss for the stock buyback portfolio (SBP) and a market capitalization gain for all other stocks.
Panel A of Table 4, representing large capitalization stocks, shows t-statistics of market capitalization differences (from the beginning to the end of the reference periods) predominately significant in relation to the t-statistics in Panel B representing small capitalization stocks.
The market capitalization change (from the beginning to the end of the reference period) for the large capitalization stock buyback portfolio (MCDSBP) stocks in Panel A is negative for all reference periods except the 2003 to 2012 reference period.
This study focuses on shareholder wealth changes for three, five-year and three, ten-year reference periods. The evidence shows market capitalization declines for most of the reference periods for the stock buyback portfolio relative to the portfolio of all other stocks.
Many companies might do a spin-off during a long reference period and these firms might be merger and acquisition activities.
One-year reference period in certain sectors (processing industry, tourism) established in law whereas it is only authorised under collective agreements.
The reference period can be raised under legislation to 12 months.

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