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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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TAX WEDGE The difference between demand price and supply price that is created when a tax is imposed on a market. Placing a tax on a market disrupts what otherwise would be an equilibrium equality between demand price and supply price. A tax wedge results because the tax is included in the demand price paid by buyers but not in the supply price received by sellers. With standard demand (negative slope) and supply (positive slope) curves, the incidence of the tax (who pays) is divided between buyers and sellers.
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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time at a flea market seeking to buy either a combination CD player, clock radio, and telephone (with answering machine) or a revolving spice rack. Be on the lookout for infected paper cuts.
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This isn't me! What am I?
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In the late 1800s and early 1900s, almost 2 million children were employed as factory workers.
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"Doing the best at this moment puts you in the best place for the next moment. " -- Oprah Winfrey, entrepreneur
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BPEA
Brookings Papers on Economic Activity
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