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INJECTION-LEAKAGE MODEL: A model used in Keynesian economics based on the equality of non-consumption expenditures (or injections) and non-consumption uses of income (leakages). On one side of the equality is saving, taxes, and imports -- the non-consumption leakages. On the other side of the equality is investment, government purchases, and exports -- the non-consumption injections. The injection-leakage model provides an alternative to the Keynesian cross for identifying equilibrium aggregate output.
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BANK RESERVES Assets used by banks to back up deposits and to conduct daily transactions, including withdrawing funds, "cashing" checks, and transferring funds between banks to "clear" checks. Reserves, also termed bank reserves or legal reserves, includes two types of assets: vault cash and Federal Reserve deposits. These legal reserves are then divided between require reserves and excess reserves. Required reserves are used to back up deposits and excess reserves are used for loans.
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ORANGE REBELOON
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Today, you are likely to spend a great deal of time at a garage sale trying to buy either a microwave over that won't burn your popcorn or a T-shirt commemorating the first day of winter. Be on the lookout for high interest rates.
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Okun's Law posits that the unemployment rate increases by 1% for every 2% gap between real GDP and full-employment real GDP.
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"Nothing is a waste of time if you use the experience wisely. " -- Auguste Rodin, Sculptor
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FIML
Full Information Maximum Likelihood
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