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DISCOUNT WINDOW: The means by which the central bank (the Federal Reserve in the United States) makes discount loans to banks. It is through the discount window that banks can obtain the reserves that the might meet their liquidity needs and satisfy reserve requirements. The criteria to manage the discount window are dictated by the discount policy, which includes setting the discount rate and the terms of discount lending. This policy is a way to influence money supply since it can change the volume of the discount loans throughout the banking system.
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SIMPLE TAX MULTIPLIER A measure of the change in aggregate production caused by changes in a government taxes that shocks the macroeconomy, when consumption is the ONLY induced expenditure. The simple tax multiplier is the negative marginal propensity to consume times the inverse of one minus the marginal propensity to consume. A related multiplier is the simple expenditures multiplier, which measures the change in aggregate production caused by changes in an autonomous expenditure.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time visiting every yard sale in a 30-mile radius hoping to buy either a large, stuffed giraffe or a birthday greeting card for your aunt. Be on the lookout for telephone calls from long-lost relatives.
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Only 1% of the U.S. population paid income taxes when the income tax was established in 1914.
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"The past cannot be changed. The future is yet in your power. " -- Hugh White, U.S. Senator
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QML
Quasi-Maximum Likelihood
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