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ACTION LAG: In the context of economic policies, a part of the implementation lag involving the time it takes for appropriate policies to be launched once they have been agreed to by policy makers. Another part of the implementation lag is the decision lag. For fiscal policy, this involves appropriating funds to government agencies (for government spending) or changing the tax code (for taxes) For monetary policy, this involves the buying and selling government securities in the open market. The action lag is usually shorter for monetary policy than fiscal policy.
Visit the GLOSS*arama
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BLUE PLACIDOLA
Your compete MICRO*scope for today
You are the type of person who needs a quart of coffee in the morning just to register a pulse. Family and friends occasionally check to see if you have a pulse. Today, you are likely to spend a great deal of time looking for the new strip mall out on the highway seeking to buy either a remote controlled train set or a genuine down-filled snow parka. Be on the lookout for the last item on a shelf. You should consider shopping at stores or businesses beginning with the letter R, but do not buy any products with a serial number or product code containing the number 879507. Your preferred shopping venue is department stores. Your special symbol is the at sign (@).
Is this You?
As a Blue Placidola, you are easy-going and even-tempered, calm and composed. For you, the hectic pace of a crowded shopping mall during the holiday rush is nothing, it's little more than a tranquil stroll in the park. Life is good. Life goes on. Why worry. You are a happy shopper and you seldom fret over trivial details of a market exchange, in part because you are astute enough to get moderately low prices and relatively good deals.
This isn't me! What am I?
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ADVERSE SELECTION An inefficient, bad, or adverse outcome of a market exchange that results because buyers and/or sellers make decisions based on asymmetric information. This commonly results in a market that exchanges a lesser quality good, what is termed the market for lemons. Two related problems resulting from asymmetric information are moral hazard and the principal-agent problem. Two methods of lessoning the problem of adverse selection are signalling and screening.
Complete Entry | Visit the WEB*pedia |
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Trading Some Ideas On EXCHANGE RATESOne potential problem with any far and wide ambling tour of the economy is ambling too far or too wide. Such is the case as we find ourselves in the quaint and courteous Republic of Northwest Queoldiola. While we're here, let's take the opportunity to explore the quaint and courteous economy of the Northwest Queoldiola. Our impromptu economic expedition is faced with an immediate roadblock. I have a pocket filled with good old U. S. dollar bills, but the quaint and courteous people of Northwest Queoldiola don't trade their wares for good old U. S. dollar bills. They prefer the quaint and courteous Northwest Queoldiolan currency, the queold. All we need to do is trade my good old U. S. dollar bills for quaint and courteous queolds.
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Visit the PEDestrian's Guide
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The wealthy industrialist, Andrew Carnegie, was once removed from a London tram because he lacked the money needed for the fare.
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"Posterity: you will never know how much it has cost my generation to preserve your freedom. I hope you will make good use of it. " -- John Quincy Adams, 6th U. S. president
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CRA
Community Reinvestment Act, Contemporaneous Reserve Accounting
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