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Summary: Macro
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1 Macro
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Aggregate demand relation
The demand for output at a given price level. Derived from equillibrium in the goods and financial markets -
Aggregate supply relation
Price level at which firms are willing to supply a given level of output. It is derived from equilibrium in the labour market -
American Recovery and Reinvestment Act
Primary goal to save and create jobs. Instated by Obama -
Business Cycle Theory
A class of macroeconomic models in which business cycle fluctuations to a large extent can be accounted for by either real or nominal shocks -
Collateralized debt obligation
Asset-backed security. Promise to pay cash flows based on the amount of money it earns from its assets -
Credit Default Swaps CDS
Financial agreement that the seller of the CDS will compensate the buyer in case of a loan default. -
Intertemporal budget constraint
Budget constraint that applies to consumption choices over subsequent periods of time -
Life cycle theory of consumption
Planning horizon of consumers is their lifetime -
Mortgage-based securities MBS
Security backed by a mortgage loan. It represents a claim on the cash flows from mortgage loans -
Panel Data Set
Data set that gives the values of one or more variables for many individuals or firms over some period of time
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