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Since cash carries an implicit rate of interest of 0%, consumers might well respond to negative rates by withdrawing money from banks and stuffing it in their mattresses.
Forteza and Ourens (2012) show that the implicit rate of return on contributions paid to these programs is very low when individuals have short contribution histories.
Although genes can disperse remarkably fast via seed, the implicit rate of seed diffusion is well in excess of 10-fold exceedingly high by current standards.
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Well, arguably, the implicit rating of the high street part of WH Smith is so low anyway, despite its free cash flow generation, that nothing might be lost if it was demerged/or sold off.
As one blogger put it, "Just because poverty rates didn't rise doesn't mean that the government imposed a 100 percent implicit tax rate".
This distinction is the essence of the hyperbolic model, which captures the property that discount rates decline (weakly) with horizon length; therefore, events in the near future are discounted at a higher implicit discount rate than events in a distant future.
As is the case with all such benefits, the subsidies raise the implicit tax rate that their recipients face, and this can act as disincentive to work.
If the estimated requirement for 37% growth in non-EU exports, say from 2019 to 2030, is about right in order to balance the UK's books, then the implicit compound rate of growth of about 3% per annum seems rather tame.
They refer to this as the "implicit" tax rate on work.
Venture capital financing rounds suggest an implicit burn rate, typically intended to be invested in the startup over 12-24 months. 12-24 months
Indeed, in a specific vehicular channel, the implicit sample rate is twice the maximum Doppler shift of all paths.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com