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AMERICAN ECONOMIC ASSOCIATION: An organization of over 25,000 professional economists. Founded in 1885, this premier top-of-the-economic-association-list publishes the prestigious American Economic Review, arguably THE number one scholarly U.S. economic journal and the Journal of Economic Literature, arguably THE number one index of economic journal publications. The AEA, as acronymically inclined economists call it, also sponsors an annual conference where professional economists present scholarly papers on their latest scholarly research.
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PUBLIC FINANCE: The study of how the government (or public) sector pays for (or finances) expenditures through taxes and borrowing. Governments produce or provide valuable goods and services, such as education, security, and transportation. They pay for these goods by collecting taxes or, if taxes fall short, by borrowing through the financial markets. Public finance adapts and applies the fundamental microeconomic theory of markets to the public sector and government activity. In particular, this area of study analyzes the efficiency of taxes and the market failure of public goods. Public finance is also key to the study of government stabilization policies that address the inflation and unemployment problems of business cycles. In particular, fiscal policy is the manipulation of government expenditures and taxes to stabilize the business cycle. See also | government | government sector | public sector | government purchases | taxes | fiscal policy | market failures | government functions | inflation | unemployment | business cycles |
Recommended Citation:PUBLIC FINANCE, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: July 18, 2025].
AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: public finance
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CONTRACTIONARY MONETARY POLICY A form of monetary policy in which a decrease in the money supply and a increase in interest rates are used to correct the inflationary problems of a business-cycle expansion. In theory, contractionary monetary policy can include selling U.S. Treasury securities through open market operations, an increase in the discount rate, and an increase in reserve requirements. In theory, open market operations are the primary tool of contractionary monetary policy. Contractionary monetary policy is often supported by contractionary fiscal policy. An alternative is expansionary monetary policy.
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PURPLE SMARPHIN
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Today, you are likely to spend a great deal of time flipping through mail order catalogs trying to buy either a flower arrangement for your aunt or a birthday greeting card for your uncle. Be on the lookout for rusty deck screws.
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Only 1% of the U.S. population paid income taxes when the income tax was established in 1914.
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"A winner is someone who recognizes his God-given talents, works his tail off to develop them into skills, and uses those skills to accomplish his goals. " -- Larry Bird, basketball player
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NEDO
National Economic Development Office
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