From Citizendium, the Citizens' Compendium
- See also changes related to Macroeconomics, or pages that link to Macroeconomics or to this page or whose text .
See the economics index for an index to topics referred to in the economics articles.
Five other glossaries are available:
- the economics glossary
- the banking glossary
- the finance glossary
- the international economics glossary
- the monetary policy glossary
- Automatic stabilisers : the tendency in times of falling economic activity for the government spending to rise, and for tax receipts to fall - and the reverse tendency in times of rising economic activity
- Credit crunch : the failure of the banking system to satisfy the economy's need for credit.
- Crowding out : A fall in private sector investment resulting from an increase in government borrowing.
- Deflation : a persistent sequence of reductions in the general level of prices.
- Fiscal stimulus : a reduction in taxation for the purpose of raising economic output, or an increase in government spending for that purpose.
- General equilibrium : A hypothetical state of a set of inter-related markets such that there is no excess supply nor excess demand in any market (see Equilibrium and disequilibrium).
- : a model of simultaneous equilibrium in the product and money markets - shown graphically as two intersecting interest rate/spending graphs, one depicting the investment/savings (I/S) relation and the other the liquidity/money (L/M) supply relation (also known as the IS-LM model).
- Inventory cycle : The contribution to the fluctuation of GDP brought about by the running-down of inventories when demand falls and their rebuilding when it recovers. Also known as the stock cycle.
- IS-LM model : Model of simultaneous equilibrium in the product and money markets - shown graphically as two intersecting interest rate/spending graphs, one depicting the investment/savings (I/S) relation and the other the liquidity/money (L/M) supply relation (also known as the Hicks-Hansen model).
- Liquidity preference : A desire to hold money in preference to other financial assets that is attributable to the transactions motive, the speculative motive or the precautionary motive.
- Liquidity trap : a state of the economy in which an expansionary monetary policy has no effect upon output.
- Phillips curve : A proposed inverse relationship between the inflation rate and the unemployment rate (that was found to lack empirical support and was replaced in the economics consensus by the expectations-augmented Phillips curve).
- Non-accelerating-inflation rate of unemployment : The unemployment rate at which the expected inflation rate is the same as the actual inflation rate
- Precautionary motive : A wish to hold money to meet unforeseen demands for monetary payments.
- Output gap : the percentage difference between the current value of the output of an economy, and that economy's normal output trend.
- Quantitative easing : An increase in the central bank's monetary liabilities as a result of its purchases of corporate or government securities.
- Shock (economics) : An event that causes a change of expectations, as a result of which there are changes of economic activity that displace the economy from its previous path.
- Stockbuilding cycle : Inventory cycle
- Supply shock : A sudden change in the price or availability of goods or services - such as might result from an earthquake or an increase in the oil price.
- Supply-side measures : measures taken with the purpose of increasing a country's economic efficiency, e.g. by removing barriers to competition or counter market failures.