The answer depends on two key variables the discount rate and future earnings growth. A lower discount rate and or a higher rate of expected earnings growth would justify higher equity valuations.

On the contrary, the real question is why the increase in stock prices has not outpaced growth in corporate earnings. After all, in the 1990 s, the US stock market surge (as in many countries) was fueled by record high price earnings ratios.

Yet another reason for the correction is that valuations in stock markets are stretched price earnings ratios are now high, while growth in earnings per share is slackening, and will be subject to further negative surprises as growth and inflation remain low. With uncertainty, volatility, and tail risks on the rise again, the correction could accelerate quickly.

Family earnings

Earnings related

52. Consequently, in order to achieve economic growth in the developing countries, their commodities must have access to international markets so as to bring about an increase in export earnings.

While expectations of faster earnings growth may well be contributing to elevated P E levels, the current situation is complicated, to say the least. What is certain is that expectations of high earnings growth would have a more durable positive effect on P E levels than the suppression of the equity risk premium.

In China, for example, rapid economic growth after the late 1970s was associated with a significant rise in inequality. Roughly half of the increase was the result of urban rural earnings gaps, which also acted as the engine of growth.

By contrast, many emerging economies, highly dependent on commodity export earnings, have been stressed by the commodity price reset, sluggish growth in developed economies, and slower growth in China. Capital flight would materially add to their plight in some cases disastrously so.

Additional earnings limit

Instability of earnings

Corporate earnings in the first quarter improved sharply.

And with your earnings...

The main culprit behind the languishing fortunes of America s middle class is slow wage growth. After peaking in the early 1970s, real (inflation adjusted) median earnings of full time workers aged 25 64 stagnated, partly owing to a slowdown in productivity growth and partly because of a yawning gap between productivity and wage growth.

In Bangladesh, remittances were equivalent to 40 per cent of export earnings in Pakistan and Sri Lanka, they were equivalent to more than 25 per cent of export earnings and in the Philippines, they were equivalent to 25 per cent of export earnings.

Five year real earnings growth on the S P 500 set an all time record in the period ending in the first quarter of 2007, at 192 . Before that, between the third quarter of 2000 and the first quarter of 2002, real S P 500 earnings fell 55 the biggest ever decline since the index was created in 1957.

No limit to additional earnings.

Therefore their earnings did not in the least benefit them.

Therefore their earnings did not in the least benefit them.

That said, some trends may be having the opposite effect on expectations for earnings growth. More than two fifths of the S amp P 500 s earnings come from external markets, some of which, like Europe and Japan, are barely growing, while others, like China, are slowing.

The compensatory allowance is payable in the amount of the difference between earnings received before the lowering of capacity for work and earnings received afterwards.

The consequent instability in export earnings has adverse effects on domestic savings and government budgets, as well as on the import supply of intermediate and capital goods and hence on investment and growth.

Five year real earnings growth on the S amp P 500 set an all time record in the period ending in the first quarter of 2007, at 192 . Before that, between the third quarter of 2000 and the first quarter of 2002, real S amp P 500 earnings fell 55 the biggest ever decline since the index was created in 1957.

It starts off with much smaller differences in earnings before tax.

Intel's fourth quarter earnings 10.8 billion.

They worked long hours in stifling conditions, lived in overcrowded and unsanitary housing, and experienced little growth in earnings. Some indicators, such as workers average height, suggest that standards of living may have even declined for a while.

In my view, it is difficult to make a strong case for a significant sustained increase in earnings growth in this environment, meaning that growth alone would not justify current equity valuations. But the lower discount rate argument is more persuasive, and is consistent with underlying economic conditions and central banks mandates.

The appreciation of the dollar exacerbates the situation for US markets, because it creates headwinds for exporters and causes companies foreign earnings, reported in dollars, to decline. And a slowdown in productivity growth, together with excessive leverage and persistent public sector underinvestment, may be undermining medium term potential economic growth.

Such rent creating corruption is quite expensive and corrosive of growth. By contrast, in China, the corruption has largely been of the profit sharing variety, whereby family members are given a stake in the enterprise so that their earnings increase as profits increase a type of corruption that promotes growth.

To improve and sustain the real income of individual developing countries through increased export earnings and to protect them from fluctuations in export earnings, especially from commodities

In 1995 multilateral debt had represented 38.3 per cent of export earnings.

Similarly, in almost half the countries, imports fell despite higher export earnings.

God give you good earnings, good man.

The individual higher additional earnings limit (only in case of partial pensions) depends on the earnings points achieved in the last calendar year preceding the first old age pension if these exceed 0.5.

This, combined with excess supply in electronics commodities, led to considerable declines in export earnings.

22. In 1996, average weekly earnings in the Territory were 231.88, compared to 233.32 in 1995.

Official earnings average 1.5 to 2 per day.

The pension is, however, earnings related (see below).

Least developed countries export earnings are also small.

Couldn t earnings collapse? Couldn t the market undergo another 40 decline in the near future?

In 2004, the wage gap in New Brunswick was 15.5 percent based on average hourly earnings.

(b) The pension based on minimum earnings is maintained.

The disability benefit is neither earnings related nor taxable.

The agricultural sector, which accounts for 50 per cent of gross domestic product and provides over 80 per cent of export earnings, is likely to remain the primary source of medium term economic growth.

Since many African countries depend on import and export taxes, fiscal earnings as well as their ability to finance social expenditures are highly vulnerable to changes in the value of commodity export earnings.