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Definitions (1434)

1.

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weak form


Can refer to the weak form of the efficient markets hypothesis, which is that any information in the past prices of a security are fully reflected in its current price. Fama (1991) broadens the category of tests of the weak form hypothesis under the name of 'test for return predictability.'
Source: econport.org

2.

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superneutrality


Money in a model 'is said to be superneutral if changes in [nominal] money growth have no effect on the real equilibrium.' Contrast neutrality.
Source: econport.org

3.

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strip financing


Corporate financing by selling "stapled" packages of securities together that cannot be sold separately. E.g., if a firm might sell bonds only in a package that includes a standard proportion of senior subordinated debt, convertible debt, preferred, and common stock. A benefit is reduced conflict. In principle bondholders and stoc [..]
Source: econport.org

4.

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quango


Stands for quasi-non-governmental organization, such as the U.S. Federal Reserve. The term is British.
Source: econport.org

5.

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OLS


Ordinary Least Squares, the standard linear regression procedure. One estimates a parameter from data and applying the linear model y = Xb + e where y is the dependent variable or vector, X is a matrix of independent variables, b is a vector of parameters to be estimated, and e is a vector of errors with mean zero that make the equations equal. The [..]
Source: econport.org

6.

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natural increase


population increase due to more births and less mortality
Source: econport.org

7.

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double coincidence of wants


phrasing from Jevons (1893). "[T]he first difficulty in barter is to find two persons whose disposable possessions mutually suit each other's wants. There may be many people wanting, and many possessing those things wanted; but to allow of an act of barter there must be a double coincidence, which will rarely happen." That is [..]
Source: econport.org

8.

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ceteris paribus


means "assuming all else is held constant". The author is attempting to distinguish an effect of one kind of change from any others.
Source: econport.org

9.

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zero-sum game


A game in which total winnings and total losings sum to zero for each possible outcome.
Source: econport.org

10.

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yellow-dog contract


A requirement by a firm that the worker agree not to engage in collective labor action. Such contracts are not enforceable in the U.S.
Source: econport.org


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