Bounded Rationality
An examination of the concept of bounded rationality and its significance in economic theory.
Box–Cox Transformation
An overview and analysis of the Box–Cox transformation, its definition, application, and relevance in economics.
Box–Jenkins Approach
A method for identification, estimation, and diagnostic checking of autoregressive integrated moving average (ARIMA) models in time series analysis.
Boycott
An examination of the term 'boycott' in economic contexts, its origins, applications, and significance
BP Curve
The set of income–interest rate combinations where the balance of payments is in equilibrium within the IS–LM–BP framework.
Brady Plan
A 1989 agreement for restructuring Mexico’s external debt, proposed by the US Secretary of the Treasury.
Brain Drain
A pejorative description of the tendency for talented individuals to migrate from poorer countries to richer countries in search of better employment opportunities and living standards.
Branch Banking
The banking system under which banks are allowed to have branches. Branch banking in some countries, including the United States, has sometimes been restricted to reduce the monopoly power of banks.
Brand
A term used to identify the maker or distributor of a good, with historical roots and significant economic implications.
Brand Loyalty
An exploration of brand loyalty, its economic implications, and its impact on consumer behavior and market dynamics.
Brand Recognition
Understanding the concept of Brand Recognition in Economics and Marketing.
Brandt Report
The report of the Independent Commission on International Development Issues aimed at fostering North-South cooperation, chaired by Willy Brandt, and published in 1980.
Break-Even
Understanding the Break-Even Point in Economics
Break-up Value
The sum a business could realize by ceasing operation entirely and selling off its assets.
Breitung test
A statistical test for unit root or stationarity in panel data.
Bretton Woods
Discussion of the Bretton Woods conference and the resulting international monetary arrangements established in 1944
Breusch-Pagan Test
A test in the context of linear regression models for examining homoscedasticity against specific forms of heteroscedasticity.
BRICS
An overview of the economic coalition comprising Brazil, Russia, India, China, and South Africa focused on their global impact and developmental strategies.
British Household Panel Survey
A comprehensive survey conducted in the UK from 1991 to 2009, collecting extensive demographic, economic, and social data.
Broad Money
A relatively inclusive definition of money, encompassing measures such as M2 and M3.
Broker
A person or company who facilitates transactions between buyers and sellers in various markets for a commission.
Brokerage
The fee charged by a broker for facilitating a transaction between a buyer and a seller.
Brownian Motion
An examination of Brownian motion, its definition, historical context, and significance in various fields of economics.
Bubble
Definition and Meaning of Economic Bubbles
Budget
A comprehensive examination of the term 'budget' with a specific focus on its meaning, usage, and theoretical implications in economics.
Budget Constraint
The limit to expenditure for an economic agent based on the ability to finance it.
Budget Deficit
Understanding the concept of budget deficit, its implications, measurement, and analytical frameworks.
Budget Line
A comprehensive look at the concept of the budget line in economics, its implications, and its role in consumer theory.
budget surplus
The excess of a government’s total income over its expenditure.
Budget Year
The fiscal year used by the US federal government, running from October 1 to September 30 in the following year.
Buffer Stock
A detailed explanation of buffer stock, its functioning, and its implications on price stabilization.
Building and Loan Association
A US cooperative institution providing mortgage finance for homeowners, equivalent to a UK building society.
Building Society
A comprehensive entry on building societies in the UK, focusing on their role in the financial system, historical development, and evolution.
Built-in Stabilizers
Features of the economy that limit economic fluctuations through routine behaviour, such as tax revenues and unemployment benefits.
Bull
A trader who expects prices to rise on the stock or commodity market.
Bull Market
A comprehensive overview of the bull market, including its definition and economic implications.
bullion
Gold held in bulk, usually in the form of gold bars, largely held by central banks as part of foreign exchange reserves.
Bundesbank
The German central bank renowned for its financial caution and monetary stability, now part of the European System of Central Banks.
Bundle of Goods
A comprehensive look at the term 'bundle of goods,' its implications in economics, and how it is applied in constructing price indices.
Bundling
The marketing of related products as a single unit with a price typically less than the sum of the prices of the separate items.
Burden in Economics
Detailed examination of the concept of burden in economic contexts, specifically debt burden and tax burden.
Bureau of Economic Analysis
Explanation of the Bureau of Economic Analysis, its role, and significant contributions to US economic data.
Business
An exploration of the term 'business' encompassing all forms of industrial and commercial profit-seeking activity, including its cycle, lobby, and broader economic significance.
Business Cycle
The fluctuation of economic activity around the long-term growth path, involving periods of growth and decline.
Business Ethics
The standards and principles businesses observe in their dealings beyond compliance with the law.
Business Expansion Scheme (BES)
A UK tax incentive (1983–1994) that encouraged individuals to invest equity in qualifying unlisted companies.
Business Rate
A UK tax on business premises used to finance local authorities, now levied at a uniform national rate.
Buy-out
Change in control of a company through its previous shareholders being bought out by new owners.
Buyer
Definition and meaning of the term 'buyer' within an economic context.
Buyer Concentration
A measure of market power on the demand side of a market, indicating the proportion of total market purchases by the largest buyers.
Buyer's Market
A comprehensive look at the term 'buyer's market' in economics, its implications, and its contextual significance.
By-Product
A comprehensive overview of the term 'by-product' in the context of economics, detailing its definition, relevance, and implications.
bygones
Past events which play no part in rational present decision-making in the context of economics.
c.i.f. - Cost, Insurance, and Freight
An overview of the commercial term 'c.i.f.' which stands for Cost, Insurance, and Freight, indicating the seller's responsibility in international shipping.
Cabotage
The transport of goods within a country, typically subject to regulation requiring the use of domestic carriers.
Cairns Group
The Cairns Group, a coalition of twenty agricultural exporting countries formed to advocate for the liberalization of agricultural trade.
Calendar Effects in Economics and Finance
Understanding the phenomenon of calendar effects and their implications in economics and finance
Calibration
Identification of the numerical values of the parameters in an economic model by various informed methods.
Call Money
Call money refers to money lent in the London money market that is repayable at very short notice.
Call Option
A comprehensive explanation of the call option, its types, valuation methods, and context in economics and finance.
Calvo Contract
An explanation of nominal rigidity in New Keynesian economics, introduced by Guillermo Calvo, based on staggered price setting by firms.
Cambridge Equation
An exploration of the Cambridge equation, a modern formulation of the quantity theory of money.
Cannibalization
The process where one part of a company grows by taking sales from another part of the same company.
Capacity
The maximum output of goods and services a firm or an economy is capable of producing.
Capacity Utilization
An overview of the term capacity utilization, its definition, historical context, and analytical frameworks.
Capital
A formal definition and detailed exploration of the economic term 'capital,' including its various forms and implications.
Capital Account
A record of transactions which do not involve income or expenditure, but change the form in which assets are held
Capital Accumulation
The process of increasing the stock of capital, and its role in economic growth.
Capital Adequacy
Overview of capital adequacy and its significance in financial regulation and economic stability
Capital Allowances
Deductions of investment expenditure from a firm’s taxable profits to encourage investment.
Capital Appreciation
An increase in the prices of the assets owned by an enterprise.
Capital Asset Pricing Model
A model of equilibrium in financial markets that generates precise predictions about the structure of returns on risky assets.
Capital Asset Pricing Model (CAPM)
A model that links an asset's expected return to its market beta and the market risk premium.
Capital Consumption
Understanding capital consumption within the scope of national accounts and its impact due to usage, ageing, or obsolescence.
Capital Deepening
An increase in capital intensity in production, characterized by capital input growing faster than labor input.
Capital Expenditure
A comprehensive exploration of capital expenditure in economics, including its definition, historical context, and various analytical frameworks.
Capital Flight
A comprehensive overview and analysis of large-scale and sudden movements of capital from a country.
Capital Formation
Capital formation refers to the process of adding to the stock of real productive equipment by constructing it or purchasing it from outside suppliers.
Capital Gain
An overview of capital gains, their definitions, and implications across different economic frameworks.
Capital Gains Tax
A tax on increases in the value of assets, typically collected upon the realization of gains through sale or bequest.
Capital Gains Tax (CGT)
Definition and analysis of Capital Gains Tax (CGT) and its impact on economic activities.
Capital Gearing
Understanding Capital Gearing in Finance and Economics
Capital Goods
Goods intended for use in the production of other goods or services.
Capital Inflow
An introduction to capital inflow, its meanings, and its relation to capital movements within the context of economics.
Capital Injections
An investment of capital into a company or institution.
Capital Intensity
Understanding Capital Intensity in Economics
Capital Issues
Capital issues: The primary method through which new shares are created to fund companies.
Capital Levy
An in-depth look at the definition, context, and implications of capital levy commonly referred to as capital tax.
Capital Loss
An economics term that refers to a fall in the price of an asset resulting in its sale for less than the purchase price.
Capital Market
Institutions where securities with an expected maturity of a year or more are bought and sold.
Capital Mobility
An exploration of capital mobility, its definitions, constraints, and implications.
Capital Movements
The movement of capital between countries, either as outflows of domestically owned capital to foreign countries or inflows of foreign-owned capital into a country.
Capital Outflow
An analysis of capital outflow, including its meaning, historical context, and various economic frameworks.
Capital Ratio
An overview of capital ratio and its significance in banking and regulatory standards.
Capital Reserves
The part of a company's net assets that exceed the share capital contributed by shareholders, typically arising from various sources and generally retained rather than distributed as dividends.
Capital Stock
The total value of the physical capital of an enterprise or country, including inventories and fixed equipment, measured in various ways.
Capital Stock Adjustment
An economic theory of investment based on the capital-output ratio.
Capital Tax
A tax on the value of capital owned by individuals or businesses.
Capital Transfer Tax
A detailed examination of Capital Transfer Tax, its meaning, implications, and associated economic concepts.
Capital Transfer Tax (CTT)
An examination of the Capital Transfer Tax, its definition, history, and analytical frameworks.