An objective of economic policy aimed at maintaining steady prices by avoiding prolonged inflation and deflation.
An entry defining and outlining the concept of real GDP in economic terms
A monetary policy rule that postulates how a central bank determines interest rates based on deviations in inflation and output gap from their target values.
Moderate and persistent inflation observed over long periods.
A rise in the price of a country’s currency in terms of foreign currency, and its economic implications.
The effect of inflation on the real value of money and government debt denominated in money terms
Overview and analysis of the economic concept of over-stimulation
The tendency in countries with a history of high inflation for interest rates to remain higher than abroad
Real income refers to income of an individual or group after taking into consideration the effects of inflation on purchasing power.
Difficulty in reducing real wages due to opposition of trade unions and employer reluctance.
A comprehensive overview of indexation, detailing its conceptual framework, historical background, and its application within various economic schools.
An overview of the concept of monetary control within economics, elucidating its definition, frameworks, and implications.
Understanding the concept of overfull employment and its implications in economics
Understanding the phenomenon where high inflation causes people to abandon their country's currency.
An overview and analysis of the Consumer Price Index (CPI), its historical context, definitions, and major frameworks.
A phenomenon in which aggregate demand in an economy outpaces aggregate supply, causing prices to increase.
An examination of overheating in economic terms, primarily from a Keynesian perspective.
An economic concept where rising wages lead to higher prices, and higher prices lead to further wage increases.
A policy of allowing the supply of money to expand in line with the demand for it, balancing economic growth and inflation.
An overview of anticipated inflation within the broader concept of expected inflation, including definitions, historical context, and major analytical frameworks in economics.
The incentive to hold money as a store of value based on economic conditions.
An economics concept that enhances the original Phillips curve by incorporating expectations and other variables.
Definition and meaning of Consumer Price Index (CPI)
Definition and implications of the Consumer Price Index (CPI) in economics.
A measure of inflation of consumer prices excluding certain volatile items.
A comprehensive analysis of cost inflation in economics.
An economic concept where the general price levels in an economy rise due to increased costs of production, often leading to declines in the purchasing power of money.
Replacement of a currency by a new one to address various economic issues such as inflation or financial regulation.
Explanation of the economic term 'dear money,' involving high interest rates and their impacts on borrowing.
An index used to adjust nominal data to real data by removing or accounting for inflation effects, typically in the context of GDP calculations.
An in-depth look into demand inflation, its causes, concepts, and impact on the economy.
An aim of economic policy encompassing objectives such as high employment levels, sustainable growth, and stable inflation rates.
An unweighted price index that does not account for the relative importance of different goods in a consumer's basket of purchases.
Definition and meaning of an escalator clause in economic terms.
A version of the Phillips curve that includes the influence of expected inflation on wage increases and demand pressure.
The anticipated rate of inflation projected by individuals or institutions for different future time periods.
An explanation of fiscal drag and its implications in progressive tax systems.
A phenomenon describing a one-for-one change in the nominal interest rate in response to the change in the inflation rate
An in-depth examination of borrowing denominated in a foreign currency, its motivations, implications, and effects on economic stability.
The policy of using the foreign exchange rate as an inflation anchor, primarily focusing on the experience of France and Belgium in the 1980s and early 1990s.
Understanding the economic significance and multifaceted role of gold.
An exploration of the term 'historical cost' in economics, detailing its definition, implications, and significance within various economic frameworks.
A comprehensive look at hyperinflation, its definition, historical context, and its implications on the economy.
Examining the phenomenon of imported inflation and its impact on domestic price levels.
An economic variable whose value is tied to an index number, commonly used to adjust interest, wages, or pensions to shield against inflation.
Inflation is a persistent increase in nominal prices, measured by price indices such as the consumer price index or GDP deflator.
An overview of the concept, significance, and challenges of inflation accounting in economic theory and practice.
The rate of increase of a specified price index, measured typically on an annual basis.
The economics term 'inflationary gap' refers to the excess of the actual level of economic activity over the level corresponding to the non-accelerating inflation rate of unemployment, leading to increased inflation.
An economic phenomenon where prices and wages continuously escalate, leading to persistent inflation.
A situation where the level of economic activity is consistent with a stable rate of inflation.
A curve depicting the long-term relationship between inflation and unemployment.
An exploration of the concept, causes, and economic implications of the menu costs of inflation.
An index of overall economic performance, formed by adding the unemployment rate and the inflation rate.
An in-depth exploration of monetary overhang and its impact on the economy.
An economic concept where nominal changes are mistaken for real changes.
The rate of interest which would be compatible with a stable level of economic activity in an economy with a constant price level.
Understanding the non-accelerating inflation rate of unemployment and its implications in economic models.
Growth of economic activity without any tendency to inflation of prices
The dynamics and implications of the price of bulk oil, typically quoted in US dollars per barrel.
An in-depth exploration of the Phillips Curve, illustrating the inverse relationship between inflation and unemployment, differences in short-run and long-run analyses, and the role of expectations.
An index number representing the average of prices of goods in a given category.
A comprehensive overview of price reform in transition economies, its impacts, frameworks, and historical significance.
The amount of real goods and services each unit of money will buy.
The theory that the price level is proportional to the quantity of money
Understanding the tendency for a variable to be influenced by its largest previous value and its implications in economics
The effect on spending of changes in the real value of money balances, influencing inflation and savings behavior.
An examination of the term 'real balances' in economics, including its definition, historical context, and analytical frameworks.
Understanding the Real Interest Rate in Economics
Exploration of the term 'real wages', its definition, meanings, historical context, and relevance in various economics frameworks.
An examination of rent control policies, their implications, and their historical context in economics.
A situation in which price and wage increases are restrained by official controls.
A comprehensive overview of revaluation in economics, detailing its definition, historical development, and relevance within various economic frameworks.
Understanding the reverse yield gap, where government bond returns exceed those on equities during certain economic conditions.
A retail price index excluding mortgage interest payments, contrasted with the UK's retail price index (RPI) which includes mortgage interest.
Exploring the economic measure known as the Sacrifice Ratio, its definitions, concepts, frameworks, and implications.
Definition of seigniorage, the profits made from issuing money, commonly referred to as the inflation tax.
An analysis of the transactional costs associated with expected inflation, commonly referred to as shoe-leather costs.
A concept in macroeconomics highlighting the short-term trade-off between inflation and unemployment
A successful stabilization programme that achieves price stability without causing a recession.
Definition and meaning of sound money, preserving stable purchasing power through diligent monetary policy.
The situation where a country persistently suffers from both high inflation and high unemployment.
Understanding Stock Appreciation in Economics
The attempt to bring down the value of an economic variable through persuasion by the authorities.
An overview of the underlying rate of inflation, particularly in the UK context, distinguishing it from the headline rate of inflation.
Inflation at a higher or lower rate than had been expected, affecting wage agreements, loan contracts, and purchasing power distribution.
A standard monetary unit used to measure the value of goods and services, pivotal for the expression of contracts and the assessment of incomes and profits.
Tendency for the average level of wages actually paid to rise faster than wage rates
Examination of the difficulty in reducing wages, either in real or nominal terms.
A type of inflation triggered by increases in wages.
Understanding the wage–price spiral, a phenomenon where wage and price increases perpetuate each other, contributing to ongoing inflation.
