Economic Shock
An exploration into the concept of economic shock, a term describing unexpected events that impact the economy, differentiating between permanent and transitory shocks.
Sacking
An exploration into the term 'sacking' in the context of labor economics, its definition, implications, and comparative analysis with related concepts.
Sacrifice Ratio
Exploring the economic measure known as the Sacrifice Ratio, its definitions, concepts, frameworks, and implications.
Saddle Point
Definition and in-depth explanation of the concept of a saddle point in economics.
Safety at Work
Analysis of workplace safety, its historical context, and implications within various economic frameworks.
Salary
A fixed compensation for the supply of labor services paid on a regular basis, usually annually quoted and paid monthly or semi-monthly.
Sales Tax
A tax imposed on the sale of goods and services, typically as a percentage of the sales price.
Sample
A detailed exploration of the term 'sample' in economic studies, its significance, and various analytical frameworks.
Sample Selectivity Bias
Understanding sample selectivity bias and its implications in econometric analysis
Sampling Distribution
An in-depth exploration of the term 'Sampling Distribution'—a fundamental concept in statistics and econometrics.
Samuelson Rule
A fundamental principle in welfare economics that describes Pareto-efficient allocations in an economy with public goods.
Satisficing
A decision-making strategy that aims at reaching an adequate outcome rather than an optimal outcome
Saving Ratio
An overview of the saving ratio, a crucial economic metric that represents household savings as a proportion of gross disposable income.
Saving(s)
Explanation of the economic concept: saving(s) and its components
Savings and Loan Association
A US institution borrowing from the general public to provide housing finance.
Savings Function
A function that relates saving to its various determinants, both at the individual and aggregate levels.
Say’s law
An economic theory proposing that supply creates its own demand.
Scarce Currency Clause
A provision in the original rules of the International Monetary Fund (IMF) to address potential scarcity in its currency stocks.
Scarcity
The property of being in excess demand at a zero price, leading to a positive equilibrium price.
Scatter Diagram
A diagram depicting the relation between two characteristics of a set of observations.
Scenario
A set of assumptions on policy choices and the values of exogenous variables to determine future economic developments.
Scenario Analysis
An assessment method for risky investment projects based on varying macroeconomic and project-specific factors.
Schedule A Tax
Schedule A tax was a former section of the UK income tax, levied on the imputed rent of owner-occupied land and houses.
Score Function
The gradient, or the vector of partial derivatives, of the log-likelihood function with respect to the parameters of the distribution.
Screening
A process by which an uninformed party elicits information from parties with private information, often in the context of economic interactions involving asymmetrical information distribution.
scrip issue
An entry defining scrip issue, also known as bonus issue.
Search
An exploration of the search model in economics, focusing on the optimal decision-making of agents facing choices with random pay-offs and costly delays.
Search Unemployment
An examination of search unemployment, a form of unemployment characterized by workers seeking a job that meets their standards of acceptability.
Seasonal Adjustment
Adjustment to correct for seasonal patterns in time-series data by estimating and removing seasonal effects in economic activity caused by natural factors, administrative measures, and social or religious traditions.
Seasonal Component
A component of time series describing the periodic changes in a variable within a year due to various factors.
Seasonal Unemployment
A comprehensive overview of seasonal unemployment, highlighting its causes, impacts, and variations across different economic frameworks.
Second-Best
A situation in which a policy-maker is subject to one or more constraints in addition to those relating to technology and endowments.
Second-Degree Price Discrimination
A form of price discrimination where different units of a product are sold at different prices, typically through bulk discounts and commodity-bundling.
Second-Order Approximation
An in-depth exploration of second-order approximation, highlighting its theoretical foundations and applications in various economic models.
Second-Price Auction
An auction type where the highest bidder wins but pays the price bid by the second-highest bidder
Secondary Market
An in-depth exploration of the secondary market where the resale of shares occurs
Sector
A comprehensive examination of the term 'sector' within the domain of economics, covering various delineations and their implications.
Secured Loan
A loan where the creditor has a claim on some particular part of the debtor’s assets in the event of default.
Securities and Exchange Commission
The main government agency responsible for supervising trade in securities and takeovers in the US.
Securities and Investment Board (SIB)
The former UK financial regulator that supervised self-regulating bodies before the modern UK framework.
Securities Market
Detailed analysis and explanation of the term 'securities market,' also known as the stock exchange.
Securitization
The economic process of bundling non-marketable assets into marketable securities.
Security (Economic)
A comprehensive understanding of financial securities, their types, and implications in economics.
Security of Tenure
The right of tenants to continue renting as long as they meet tenancy conditions
Segmented Market
A market characterized by restricted contact between different customers or suppliers, facilitating price discrimination and service differentiation.
Seigniorage
Definition of seigniorage, the profits made from issuing money, commonly referred to as the inflation tax.
Self-Assessment (Tax)
A comprehensive look at self-assessment in the context of tax systems.
Self-Correcting System
A system that autonomously returns to equilibrium after deviations.
Self-Employment
An exploration of self-employment, its implications for taxation, insurance, and the mixture of income components involved.
Self-financing
Financing a business without recourse to borrowing or share issues.
Self-Fulfilling Expectations
Expectations which induce actions that bring about the anticipated situation.
Self-Regulation
A strategy for sectoral control where rules are devised and enforced by industry insiders.
Seller Concentration
An exploration of seller concentration, its definition, and implications in economics.
Seller’s Market
A market condition where sellers have an advantage due to high demand and limited supply.
Selling Costs
Costs incurred in the process of selling products, such as advertisements, trade fairs, and sales personnel.
Sensitive Sectors
An exploration of sectors particularly concerned about market and job loss through import competition.
Sensitivity Analysis
A method for the assessment of the robustness of predictions of a model to variations in the model assumptions.
Separable Utility Function
A dictionary entry describing the concept and implications of a separable utility function in economics.
Separating Equilibrium
An equilibrium in which agents with different characteristics choose different actions.
Separation of Ownership and Control
The distinction between those who own a company (shareholders) and those who control its operations (managers)
Sequestration
A UK procedure by which assets can be temporarily frozen by court order.
Serial Correlation
Comprehensive entry on Serial Correlation, its meanings, context, and analytical frameworks in economics.
Service Contract
A contractual agreement for the provision of specified services.
Service Flows
The concept of service flows elaborating on how services rendered by consumer durables are treated in the national income accounts.
Service Industry
The parts of the economy providing services to individuals and businesses, encompassing sectors such as healthcare, entertainment, and professional services.
Service Life
The duration of time during which a product or an asset remains functional and can be used.
Services
Economic goods which do not take a tangible and storable form, requiring varying degrees of customer presence.
Set-aside
Removal of land from agricultural production, including policies and implications.
Settlement
The act of completing the trade required in a contract to pay for or deliver goods, securities, or currency.
Settlement Risk
The risk that other parties may fail to fulfill their side of bargains causing potential losses.
Shadow Bank
An exploration of shadow banks—financial intermediaries that operate outside traditional banking regulations to provide credit-facilitating services.
Shadow Economy
An exploration of the Shadow Economy, an unregulated portion of the economy usually involving income and operations outside official oversight.
Shadow Price
Definition and meaning of shadow price in economics.
Shadow Prices
Definition and meaning of shadow prices in economics.
Shake-out
The process of removing resources from some sector of the economy.
Shanghai Stock Exchange
A stock exchange founded in 1990 and based in Shanghai, providing a market for trade in equities, bonds, funds, and derivatives.
Shapley Value
A process for determining a fair allocation in a cooperative game, using the Shapley value concept.
Share
A comprehensive entry on the ownership units of a company, detailing types, rights, and regulations.
Share Buybacks
An explanation of share buybacks, including their purposes, benefits, and theoretical motivations.
Share Capital
The authorized or nominal value of a company’s shares as established in the memorandum of association.
Share Option
A comprehensive definition and exploration of 'Share Option,' its significance, historical context, and comparative analysis across various schools of economic thought.
Share Price
The price at which a share can be traded, including the offer price, bid price, and mid-market price.
Share Price Index
An index of the prices of shares of specific types in stock exchanges
Share Register
The register kept by a limited company recording the names and addresses of shareholders, and the type and number of shares held.
Sharecropper
Definition and meaning of the term 'sharecropper' in economics and its historical and analytical contexts.
Shareholder
A person or company holding shares in a company.
Shark Repellent
Contracts designed to make a company unattractive to potential takeover bidders
Shell Company
A company that exists legally and possibly has non-trading assets but does not engage in active trading.
Sheltered Monopoly
A monopoly protected from competition through legal restrictions or trade barriers.
Shenzhen Stock Exchange
A stock exchange in Shenzhen, China, serving as a platform for trading equities, bonds, mutual funds, and derivatives.
Sherman Act
An overview of the Sherman Act, the original US federal antitrust legislation.
Shift Work
Detailed analysis and context of shift work in economics and labor market.
Shoe-Leather Costs of Inflation
An analysis of the transactional costs associated with expected inflation, commonly referred to as shoe-leather costs.
Shogun Bond
A bond issued in Japan by a non-resident firm and denominated in a currency other than Japanese yen.
Shop Steward
A worker elected at shop-floor level to represent fellow workers in discussions with management.
Short Position
A detailed analysis of the concept of a short position in economics, particularly in the context of securities and futures markets.
Short Run
A timescale over which some economic variables relevant for decision-making cannot be changed.
Short Selling
Definition and meaning of short selling in financial and commodity markets
Short-Dated Security
A concise guide to understanding short-dated securities - financial instruments with maturities of under 5 years
Short-Run Capital Movements
Movements of capital between countries that can be quickly reversed, driven by various economic factors.