Arranging one’s affairs to reduce the amount of tax that has to be paid. Provides a contrast between legal tax avoidance and illegal tax evasion, and discusses related concepts such as the General Anti-Avoidance Rule.
A comprehensive federal statute of 1986 that aimed to simplify the U.S. income tax code, broaden the tax base, and eliminate many tax shelters and preferences.
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.
The Tennessee Valley Authority (TVA) is a US public corporation established in 1933 as part of the New Deal, focusing on power supply, flood control, natural resource development, tourism, and training.
A funding facility introduced by the US Federal Reserve System in 2008 aimed at encouraging lending to households and small businesses through support of asset-backed securities issuance.
A dictionary entry exploring the economic concept of time-inconsistency, which occurs when a policy-maker acts counter to previous commitments due to changing incentives.
A proposed excise duty on cross-border currency transactions aimed at reducing exchange rate fluctuations and generating substantial revenue for social causes.
An essential term in macroeconomics that aggregates consumer expenditure, government final consumption, and gross domestic capital formation without deductions for imports or capital consumption.