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JUGLAR CYCLE: A cycle of economic activity lasting between 8 and 10 years that acquired the name of the first economist to study it, Clement Juglar. The Juglar cycles is attributed to investment in equipment and machinery. This is one of four separate cycles of macroeconomic activity that have been documented or hypothesized. The other three are Kitchin cycle, Kuznets cycle, and Kondratieff cycle.
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FISCAL POLICY Control over government spending and taxes by a central government which is used to stabilize business cycles, reduce unemployment and inflation, and promote economic growth. In the United States fiscal policy is primarily undertaken at the federal level through acts of Congress and actions by the President. However, state and local governments also undertake fiscal policy to stabilize their local macroeconomies. The government sector has three alternative tools in the use of fiscal policy--government purchases, taxes, and transfer payments. An alternative to fiscal policy is monetary policy.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time browsing about a thrift store wanting to buy either a remote controlled World War I bi-plane or a wall poster commemorating Thor Heyerdahl's Pacific crossing aboard the Kon-Tiki. Be on the lookout for telephone calls from former employers.
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Okun's Law posits that the unemployment rate increases by 1% for every 2% gap between real GDP and full-employment real GDP.
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"If you wouldn't write it and sign it, don't say it." -- Earl Wilson, Columnist
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FHLBB
Federal Home Loan Bank Board
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