Questions tagged [definition]

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

29 questions with no upvoted or accepted answers
Filter by
Sorted by
Tagged with
5
votes
1answer
63 views

What does the adjective “structural” mean in “structural reforms” or “structural effects”?

Economists frequently speak of structural reforms and structural effects. For example, Manmohan Singh (1992): The economic crisis was used as an opportunity to implement basic structural reforms ...
3
votes
1answer
60 views

Definiton of information sets in rational expecations models

I am struggling with the notion of 'information sets' in the context of rational expectation models in economics. I found interesting notes on the web (http://www2.econ.iastate.edu/tesfatsi/reintro....
3
votes
0answers
39 views

Meaning of “let him take Money at Interest, and not buy at Time”

Dudley North (1691): let him take Money at Interest, and not buy at Time What does the above statement mean? I think "take Money at Interest" simply means "borrow at some interest rate". But I ...
3
votes
1answer
135 views

Definition: Extractive Goods (Comtrades HS-Categorization)

I'm currently writing a paper on China in Africa and I'd like to compare Africas Exports to China with its exports to Europe and the USA. More specifically I'd like to find out if the Exports to China ...
3
votes
0answers
49 views

Terminology and formalization for “anonymous” game forms

I have an intuitive notion of what an "anonymous" (extensive) game form $\Gamma$ is. In my mind an "anonymous" game is a game in which the players' identity does not matter. This includes the (again ...
2
votes
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
0answers
16 views

Lifeboat vs bailout

I have encountered the term lifeboat in these two contexts: Floating a “lifeboat”: The Banque de France and the crisis of 1889 The 1974 rescue in the UK's secondary-banking crisis. Is the term ...
2
votes
0answers
24 views

What's the difference (if any) between “fixed assets” and “fixed capital” in the UN SNA?

From my reading of the UN System of National Accounts (2008 update), "fixed assets" and "fixed capital" seem to be completely synonymous. Yet strangely there seem to be these two different terms. So ...
2
votes
1answer
191 views

What is the correct economic term for beneficial “transaction frequency”?

I am not an economist but I am trying to track down and understand an economic principal (and/or theory) that I think is called "transaction frequency" but when I go searching on that term I find only ...
1
vote
0answers
21 views

How do you call systems in which the more you have, the more you make?

I am looking for a term for systems or dynamics in which the ability to earn a particular resource requires having a minimum of that resource available, and grows progressively or exponentially with ...
1
vote
0answers
15 views

Is rent on a relocation — an example of unfunded liability?

I'm not too sure if the question makes much sense, but let's assume that you get a job offer in SF, and in order to accept, you basically have to sign a 6- or 12-month contract for rent in order to be ...
1
vote
0answers
203 views

What is the opposite of debt?

In trade, the opposite of trade deficit is trade surplus. In other words, the negative deficit is called surplus. And then, what is the term for negative debt? Say for example Bank A owes 5 million ...
1
vote
0answers
25 views

What are the definitions of the terms value, wealth, and utility in economics?

Are there any definitions for the following three terms that are widely agreed upon in economics? Value Wealth Utility In particular, are these terms identical? If not, what differentiates them? I ...
1
vote
0answers
39 views

What is the difference between personal consumption expenditure price and PCE quantity?

What is the difference between these two things? How is PCE price different from PCE quantity? Also, I am confused about the difference between PCE quantity and measure of real output. For example, ...
1
vote
0answers
46 views

Terminology for separability in price and value

Take an agent with mean-variance utility over something that is uncertain: $$ U(x) = \mu_x^\theta - \sigma_x^\lambda $$ $A\in \{0,1\}$ happens if $U(x)>0$, and $x$ is a random variable $$ A = \...
1
vote
0answers
33 views

Formal terminology for positive and negative correlation between ability of workers for different jobs?

Say there are two occupations - A and B, and plenty of workers. Let's pick occupation A, and order workers from lowest to highest ability/productivity. Which is the formal term to describe the ...
0
votes
0answers
22 views

What is the proper academic term for “realizing sales from online traffic”?

Realizing sales form traffic is one of the major concerns for firms in a digital economy. To my knowledge, online marketing methods (such as SEO) usually generate traffic but not necessarily profits. ...
0
votes
0answers
20 views

In economics what is “total of pre-tax income of all citizens” called?

What terminology is used in economics/finance to refer to the total of pre-tax income of all citizens of a country? And where to find that information
0
votes
1answer
21 views

How is the defintion of the mean preserving spread (MPS) not too general?

The mean preserving spread is defined as follows: Consider two lotteries g and h. Let $x_g$ und $x_h$ denote the corresponding random variables. Then h is a mean preserving spread (MPS) of g, if: $...
0
votes
1answer
35 views

Which single letter abbreviations are typically used for the production factors Land, Labour and Capital?

I often see "L" for Labour and "K" for Capital, as well as "M" for natural resources (i.e. Land) but they don't seem to be applied consistently.
0
votes
0answers
23 views

Leader-follower-leader games

I am trying to find some literature on a variation of a Stackelberg game in which two players, P1 and P2, interact in the following order: P1 plays P2 plays P1 plays The best guess I have for the ...
0
votes
1answer
57 views

Difference(s) between Rational Expectations Equilibrium and Nash equilibium

What is the major difference between the notion of rational expectations equilibrium and Nash equilibium? And why do we, only, have a rational expectation about the first moment (the price) in the ...
0
votes
0answers
14 views

Is there a specific term to define costs “internal” & “external” to an industry?

I'm not referring to the typical definitions of industry (internal) & societal (external) costs but rather the costs that can be reduced by a member within an industry (to be competitive) and the ...
0
votes
0answers
18 views

Is there a term for revenue related to total accumulated revenue?

In a quarterly/annual report, revenue is measured per reporting period, and often there's a comparison to the previous quarter or year-over-year. Is there a more specific term for a) the total ...
0
votes
0answers
23 views

Term for a policy that focuses on minimizing risk

What is the correct economics term for a policy that is focused on containing the spread of risks in the financial sector? I was thinking: risk-targeted policy?
0
votes
1answer
48 views

What is “industrial capitalism”?

What's the difference between "industrial capitalism" and "agrarian capitalism" and "mercantilism" and the "industrial revolution" and the 20th century ideas of "Keynesianism"? Is agrarian capitalism-...
0
votes
0answers
24 views

Synonyms for One-to-One Matching Mechanisms

I am trying to find a more elegant usage of wording for one-to-one matching and I am need of some thoughts from others. Bilateral matching? Any help would be respected.
0
votes
1answer
3k views

Quarterly GDP growth terminology: YoY vs QoQ

Quarterly GDP growth can be calculated either in terms of YoY change or — in the case of seasonally adjusted data — in terms of QoQ change. (A third option would be to annualize the QoQ rate.) To ...