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IDENTIFICATION LAG: In the context of economic policies, the time between a shock to the economy and realization that the shock has occurred. 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 an implementation lag. Also termed recognition lag, the identification lag emerges due to the time needed to measure economic activity. While the lag is generally positive, it actually can be negative through accurate forecasting techniques. When negative policies can be undertaken to correct a problem before it occurs.
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AVERAGE PROPENSITY TO SAVE The proportion of household income that is used for saving. The average propensity to save (abbreviated APS) is really nothing more than average saving. Together with the average propensity to consume, it indicates how a given level of income is divided between consumption and saving. A related saving measure is the marginal propensity to save.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time at an auction hoping to buy either a dozen high trajectory optic orange golf balls or a large red and white striped beach towel. Be on the lookout for the happiest person in the room.
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This isn't me! What am I?
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More money is spent on gardening than on any other hobby.
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"In the long run men hit only what they aim at. " -- Henry David Thoreau, philosopher
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LAD
Least Absolute Deviations
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