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IMPLEMENTATION LAG: In the context of economic policies, the time between the realization that a shock to the economy has occurred and corrective government action responding to the shock. This is one of several policy lags that limit the effectiveness of stabilization policies designed to correct business-cycle fluctuations. This is also one of two inside lags. The other is a recognition lag. The implementation lag, which is often divided into decision and action lags, emerges due to the time it takes for government leaders to debate, discuss, and decide on the appropriate policy then get the appropriate government agencies to launch the policy. The implementation lag is usually shorter for monetary policy than fiscal policy.
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INFLATION PROBLEMS Two notable problems are associated with inflation--uncertainty and haphazard redistribution. Inflation, especially inflation that varies from month to month and year to year, makes long-term planning quite difficult. Prices, wages, taxes, interest rates, and other nominal values that enter into consumer, business, and government planning decisions can be significantly affected by inflation. Moreover, inflation tends to redistribute income and wealth in a haphazard manner--some people win and some people lose. This redistribution might not be that desired by society, failing to promote any of the basic economic goals of efficiency, equity, stability, growth, or full-employment.
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YELLOW CHIPPEROON [What's This?]
Today, you are likely to spend a great deal of time calling an endless list of 800 numbers looking to buy either a lighted magnifying glass or a small, foam rubber football. Be on the lookout for high interest rates. Your Complete Scope
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The average bank teller loses about $250 every year.
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"An idea is never given to you without you being given the power to make it reality." -- Richard Bach, Author
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EGARCH Exponential Generalized Autoregressive Conditional Heteroskedasticity
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