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RECOGNITION LAG: In the context of economic policies, the time between a shock to the economy and realization that the shock has occurred. This is one of several policy lags that limit the effectiveness of stabilization policies designed to correct business-cycle fluctuations. This is also one of two inside lags. The other is an implementation lag. Also termed identification lag, the recognition lag emerges due to the time needed to measure economic activity. While the lag is generally positive, it actually can be negative through accurate forecasting techniques. When negative policies can be undertaken to correct a problem before it occurs.
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BANK RESERVES Assets used by banks to back up deposits and to conduct daily transactions, including withdrawing funds, "cashing" checks, and transferring funds between banks to "clear" checks. Reserves, also termed bank reserves or legal reserves, includes two types of assets: vault cash and Federal Reserve deposits. These legal reserves are then divided between require reserves and excess reserves. Required reserves are used to back up deposits and excess reserves are used for loans.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time browsing about a thrift store looking to buy either a solid oak entertainment center or a remote controlled ceiling fan. Be on the lookout for the happiest person in the room.
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This isn't me! What am I?
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The portrait on the quarter is a more accurate likeness of George Washington than that on the dollar bill.
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"The time to repair the roof is when the sun is shining." -- John F. Kennedy, 35th U. S. president
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DARA
Decreasing Absolute Risk Aversion
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