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June 22, 2018 

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EUROPEAN SYSTEM OF CENTRAL BANKS: The consolidation of the central banks of the member nations of the European Union, together with the European Central Bank, to oversee monetary policy. A major aspect of the Economic and Monetary Union has been coordinate the actions of distinct, independent nations under a single authority, which could probably not be achieved without the European System of Central Banks. The European System of Central Banks is comparable to the Federal Reserve System of the United States.

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Lesson 9: Macro Basics | Unit 5: Issues Page: 14 of 16

Topic: Politics <=PAGE BACK | PAGE NEXT=>

Policy perspectives are filled with differing politics and political philosophies.

Reasons for differing views of the 'best' economic policies:

  • First: Human beings are different, with different likes, dislikes, tastes, preferences, values, beliefs, ideologies and opinions. This is the source of differences on what is considered the 'best' for the economy.
  • Second: Human beings often have vested interests in the consequences of the policies. They personally benefit from a policy. While self-interest is okay, the question is whether self-interests of the few prevent greater welfare of the many.

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L

A broad monetary measure that combines M3 plus several liquid assets, including commercial paper, U.S. Treasury bills, savings bonds, and bankers' acceptances. L used to be tracked and reported by the Federal Reserve System along with M1, M2, and M3. However, L is no longer reported.

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APLS

BEIGE MUNDORTLE
[What's This?]

Today, you are likely to spend a great deal of time at a crowded estate auction wanting to buy either a replacement remote control for your television or a replacement nozzle for your shower. Be on the lookout for florescent light bulbs that hum folk songs from the sixties.
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This isn't me! What am I?

A lump of pure gold the size of a matchbox can be flattened into a sheet the size of a tennis court!
"Whenever you fall, pick up something. "

-- Oswald Avery, scientist

IGARCH
Integrated Generalized Autoregressive Conditional Heteroskedasticity
A PEDestrian's Guide
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