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WHOLESALE PRICE INDEX: An index of the prices paid by retail stores for the products they would ultimately resell to consumers. The Wholesale Price Index, abbreviated WPI, was the forerunner of the modern Producer Price Index (PPI). The WPI was first published in 1902, and was one of the more important economic indicators available to policy makers until it was replaced by the PPI in 1978. The change to Producer Price Index in 1978 reflected, as much as a name change, a change in focus of this index away from the limited wholesaler-to-retailer transaction to encompass all stages of production. While the WPI is no longer available, the family of producer price indexes provides a close counterpart in the Finished Goods Price Index.
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MONETARY POLICY CHANNELS The routes through which monetary policy by the Federal Reserve System affects aggregate production and macroeconomic activity. The six most important monetary policy channels are: interest rate, exchange rate, wealth, equities, bank lending, and balance sheet. These six channels are interdependent and mutually reinforcing. The interest rates channel is usually the most important, but all six channels generally come into play.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time driving to a factory outlet looking to buy either decorative celebrity figurines or a flower arrangement with anything but tulips for your grandfather. Be on the lookout for malfunctioning pocket calculators.
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The portion of aggregate output U.S. citizens pay in taxes (30%) is less than the other six leading industrialized nations -- Britain, Canada, France, Germany, Italy, or Japan.
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"You are never given a dream without also being given the power to make it true." -- Richard Bach, Author
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ARCH
Autoregressive Conditional Heteroskedasticity
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