Questions tagged [definition]

Questions about how economic terms, quantities, or ideas can be defined.

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2answers
99 views

Is the use/consumption of natural resources considered an externality per se?

On a finite planet natural resources are rival goods by definition, i.e. if one agent uses/consumes a natural resource it becomes unavailableĀ for other agents. Mankiw defines an externality as "the ...
7
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1answer
5k views

“Competitive equilibrium” vs. “General equilibrium”

What is the difference between the term "competitive equilibrium" and the term "general equilibrium"? Here in econ.SE, they are two different tags, so there is probably a difference between them, but ...
9
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4answers
292 views

Definition of capitalism

Does the discipline of economics have an accepted rigorous definition of capitalism? I.e. not something like "some economists would quote Hayek and say that so and so constitutes capitalism" but an ...
5
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2answers
362 views

What is an econometrician?

According to Wikipedia, Econometrics is the application of mathematics, statistical methods, and computer science to economic data and is described as the branch of economics that aims to give ...
2
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0answers
13 views

Is there a clear timeline of ECB/Eurosystem's changes to the defintion of M3 (with regard to repos)?

I found that circa 2012 the ECB/Eurosystem changed their definition of M3 to exclude at least some repos, which previously were included. According to a 2014 Bundesbank publication, the change ...
2
votes
0answers
22 views

Is there a widely accepted definition of “asset [price] inflation”?

A bit of googling found some conflicting ones... Capel and Houben (BIS) Asset inflation occurs when the prices of financial assets are rising even though they are already above their intrinsic or ...
2
votes
2answers
62 views

What's the term for consumers not being able to pay their mortgage?

Is there a term for not being able to pay your mortgage(s)? Like "personal bankruptcy", "consumer default" or something like that?