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INSIDE LAG: In the context of economic policies, the time between a shock to the economy and corrective government action responding to the shock. This is one of two primary lags in the use of economic policies. The other is outside lag, the time between the government action and the affect on the economy. The inside lag can be divided into the recognition lag and the implementation lag. The recognition lag is identifying the shock or need for action and the implementation is determining the appropriate policy response. Monetary policy tends to have a shorter outside lag than fiscal policy. The length of the inside and outside lags is one argument against the use of discretionary policies to stabilize business cycles.
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MONEY SUPPLY, AGGREGATE DEMAND DETERMINANT One of several specific aggregate demand determinants assumed constant when the aggregate demand curve is constructed, and that shifts the aggregate demand curve when it changes. An increase in the money supply causes an increase (rightward shift) of the aggregate curve. A decrease in the money supply causes a decrease (leftward shift) of the aggregate curve. Other notable aggregate demand determinants include interest rates, inflationary expectations, and the federal deficit.
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BROWN PRAGMATOX
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Today, you are likely to spend a great deal of time touring the new suburban shopping complex wanting to buy either a handcrafted bird house or a weathervane with a chicken on top. Be on the lookout for spoiled cheese hiding under your bed hatching conspiracies against humanity.
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The 22.6% decline in stock prices on October 19, 1987 was larger than the infamous 12.8% decline on October 29, 1929.
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"Divide each difficulty into as many parts as is feasible and necessary to resolve it." -- Rene Descartes
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FAC
Federal Advisory Council
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