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LAGGING ECONOMIC INDICATOR: One of seven economic statistics that tend to move up or down a few months after the expansions and contractions of the business cycle. These statistics paint a pretty clear picture of what the economy was doing a few months back. Lagging economic indicators lag the turning points of the aggregate economy by 3-12 months. After a contraction begins, lagging indicators decline 3 to 12 months later. And 3 to 12 months after a expansion begins, lagging indicators rise.
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AGGREGATE MARKET SHOCKS Disruptions of the equilibrium in the aggregate market (or AS-AD model) caused by shifts of the aggregate demand, short-run aggregate supply, or long-run aggregate supply curves. Shocks of the aggregate market are associated with, and thus used to analyze, assorted macroeconomic phenomena such as business cycles, unemployment, inflation, stabilization policies, and economic growth. The specific analysis of aggregate market shocks identifies changes in the price level (GDP price deflator) and real production (real GDP). Changes in the price level and real production have direct implications for the unemployment rate, the inflation rate, national income, and a host of other macroeconomic measures.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time lost in your local discount super center seeking to buy either super soft, super cuddly, stuffed animals or a large stuffed brown and white teddy bear. 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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Ragnar Frisch and Jan Tinbergen were the 1st Nobel Prize winners in Economics in 1969.
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"There's only one way to succeed in anything, and that is to give everything. " -- Vince Lombardi
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JEP
Journal of Economic Perspectives
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