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Outright Monetary Transactions
Outright Monetary Transactions ("OMT") is a program of the European Central Bank under which the bank makes purchases ("outright transactions") in secondary, sovereign bond markets, under certain conditions, of bonds issued by Eurozone member-states. The program was presented by its supporters as a principal manifestation of Mario Draghi's (July 2012) commitment to do "whatever it takes" to preserve the euro. OMT is considered by the European Central Bank once a Eurozone government asks for financial assistance. The Eurozone has established the European Stability Mechanism and the European Financial Stability Facility bailout funds in order to meet the challenges of the European debt crisis. From these funds and through OMT, the Eurozone's central bank can, henceforth, buy government-issued bonds that mature in 1 to 3 years, provided the bond-issuing countries agree to certain domestic economic measures – the latter being the so-called term of "conditionality". The aim of t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Secondary Market
The secondary market, also called the aftermarket and follow on public offering, is the financial market in which previously issued financial instruments such as stock, bonds, options, and futures are bought and sold. The initial sale of the security by the issuer to a purchaser, who pays proceeds to the issuer, is the primary market. All sales after the initial sale of the security are sales in the secondary market. Whereas the term primary market refers to the market for new issues of securities, and " market is primary if the proceeds of sales go to the issuer of the securities sold," the secondary market in contrast is the market created by the later trading of such securities. With primary issuances of securities or financial instruments (the primary market), often an underwriter purchases these securities directly from issuers, such as corporations issuing shares in an IPO or private placement. Then the underwriter re-sells the securities to other buyers, in what is ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Redenomination
In monetary economics, redenomination is the process of changing the face value of banknotes and coins in circulation. It may be done because inflation has made the currency unit so small that only large denominations of the currency are in circulation. In such cases the name of the currency may change or the original name may be used with a temporary qualifier such as "new". Redenomination may be done for other reasons such as changing over to a new currency such as the Euro or during decimalisation. Redenomination itself is considered symbolic as it does not have any impact on a country's exchange rate in relation to other currencies. It may, however, have a psychological impact on the population by suggesting that a period of hyperinflation is over, and is not a reminder of how much inflation has impacted them. The reduction in the number of zeros also improves the image of the country abroad. Inflation over time is the main cause for the purchasing power of the monetar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bundesbank
The Deutsche Bundesbank (), literally "German Federal Bank", is the central bank of the Federal Republic of Germany and as such part of the European System of Central Banks (ESCB). Due to its strength and former size, the Bundesbank is the most influential member of the ESCB. Both the Bundesbank and the European Central Bank (ECB) are located in Frankfurt, Germany. It is sometimes referred to as "Buba" for Bundesbank, while its usual abbreviation is BBk in Germany and internationally DBB. The Bundesbank was established in 1957 and succeeded the Bank deutscher Länder, which introduced the Deutsche Mark on 20 June 1948. Until the euro was physically introduced in 2002, the Bundesbank was the central bank of the former Deutsche Mark ("German Mark", sometimes known in English as the "Deutschmark"). The Bundesbank was the first central bank to be given full independence, leading this form of central bank to be referred to as the ''Bundesbank model'', as opposed, for instance, to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jim Boulden
Jim or JIM may refer to: * Jim (given name), a given name * Jim, a diminutive form of the given name James * Jim, a short form of the given name Jimmy * OPCW-UN Joint Investigative Mechanism * ''Jim'' (comics), a series by Jim Woodring * ''Jim'' (album), by soul artist Jamie Lidell * Jim (''Huckleberry Finn''), a character in Mark Twain's novel * Jim (TV channel), in Finland * JIM (Flemish TV channel) * JIM suit, for atmospheric diving * Jim River, in North and South Dakota, United States * Jim, the nickname of Yelkanum Seclamatan (died April 1911), Native American chief * '' Journal of Internal Medicine'' * Juan Ignacio Martínez (born 1964), Spanish footballer, commonly known as JIM * Jim (horse), milk wagon horse used to produce serum containing diphtheria antitoxin * "Jim" (song), a 1941 song. * JIM, Jiangxi Isuzu Motors, a joint venture between Isuzu and Jiangling Motors Corporation Group (JMCG). * Jim (Medal of Honor recipient) See also * * Gym * Jjim * Ǧī ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bill Mitchell (economist)
William Francis Mitchell (born 7 March 1952) is a professor of economics at the University of Newcastle, New South Wales, Australia and Docent Professor of Global Political Economy at the University of Helsinki, Finland. He is one of the founding developers of Modern Monetary Theory. Early life Mitchell was born to working class parents in Glen Huntly, a suburb of Melbourne, in March 1952. The family moved to Ashwood, a new Housing Commission suburb soon after. He attended Ashwood Primary School (1957–1963) and Ashwood High School (1964–1969). Education Mitchell holds the following degrees: PhD in Economics, University of Newcastle, 1998; Bachelor of Commerce, Deakin University, 1977; and Master of Economics Monash University, 1982. He completed a Master's Preliminary at the University of Melbourne in 1978 (with first-class honours). [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Budget Deficits
The government budget balance, also alternatively referred to as general government balance, public budget balance, or public fiscal balance, is the overall difference between government revenues and spending. A positive balance is called a ''government budget surplus'', and a negative balance is a ''government budget deficit''. A government budget is a financial statement presenting the government's proposed revenues and spending for a financial year. A budget is prepared for each level of government (from national to local) and takes into account public social security obligations. The government budget balance can be broken down into the ''primary balance'' and interest payments on accumulated government debt; the two together give the budget balance. Furthermore, the budget balance can be broken down into the ''structural balance'' (also known as ''cyclically-adjusted balance'') and the cyclical component: the structural budget balance attempts to adjust for the impact of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Depression (economics)
An economic depression is a period of carried long-term economical downturn that is result of lowered economic activity in one major or more national economies. Economic depression maybe related to one specific country were there is some economic crisis that has worsened but most often reflexes historically the American Great Depression and similar economic status that may be recognized as existing at some country, several countries or even in many countries. It is often understood in economics that economic crisis and the following recession that maybe named economic depression are part of economic cycles where slowdown of economy follows the economic growth and vice versa. It is a result of more severe economic problems or a ''downturn'' than the recession itself, which is a slowdown in economic activity over the course of the normal business cycle of growing economy. Economic depressions maybe also characterized by their length or duration, and maybe showing increases in unemplo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Post-Keynesian
Post-Keynesian economics is a school of economic thought with its origins in '' The General Theory'' of John Maynard Keynes, with subsequent development influenced to a large degree by Michał Kalecki, Joan Robinson, Nicholas Kaldor, Sidney Weintraub, Paul Davidson, Piero Sraffa and Jan Kregel. Historian Robert Skidelsky argues that the post-Keynesian school has remained closest to the spirit of Keynes' original work. It is a heterodox approach to economics. Introduction The term "post-Keynesian" was first used to refer to a distinct school of economic thought by Eichner and Kregel (1975) and by the establishment of the ''Journal of Post Keynesian Economics'' in 1978. Prior to 1975, and occasionally in more recent work, ''post-Keynesian'' could simply mean economics carried out after 1936, the date of Keynes's ''General Theory''. Post-Keynesian economists are united in maintaining that Keynes' theory is seriously misrepresented by the two other principal Keynesian sc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Paul Krugman
Paul Robin Krugman ( ; born February 28, 1953) is an American economist, who is Distinguished Professor of Economics at the Graduate Center of the City University of New York, and a columnist for ''The New York Times''. In 2008, Krugman was the winner of the Nobel Memorial Prize in Economic Sciences for his contributions to New Trade Theory and New Economic Geography. The Prize Committee cited Krugman's work explaining the patterns of international trade and the geographic distribution of economic activity, by examining the effects of economies of scale and of consumer preferences for diverse goods and services. Krugman was previously a professor of economics at MIT, and later at Princeton University. He retired from Princeton in June 2015, and holds the title of professor emeritus there. He also holds the title of Centennial Professor at the London School of Economics. Krugman was President of the Eastern Economic Association in 2010, and is among the most influential ec ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cass Business School
Bayes Business School, formerly known as Cass Business School, is the business school of City, University of London, located in St Luke's, just to the north of the City of London. It was established in 1966, and it is consistently ranked as one of the leading business schools in the United Kingdom. Bayes Business School is divided into the three faculties of actuarial science and insurance, finance, and management. It awards BSc (Hons), MSc, MBA and PhD degrees and is one of around 100 schools globally to be triple accredited by the AMBA in the United Kingdom, EQUIS in Europe, and the AACSB in the United States. History The City University Business School was founded in 1966 as part of City University, London. Its MSc in Administrative Sciences began in 1967 and became the MBA in 1979. In 2002, following a donation from the Sir John Cass Foundation, the school moved to new premises in the London Borough of Islington, and changed its name to Cass Business School. This ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Paul De Grauwe
Paul De Grauwe (; born 18 July 1946) is a Belgian economist and John Paulson Professor in European Political Economy at the London School of Economics and Political Science as head of the European Institute. He is also professor emeritus in international economics at KU Leuven and former member of the Belgian Federal Parliament. Education and career De Grauwe studied economics at the Catholic University of Leuven from 1964 until 1969. Having received a scholarship from the Belgian Fulbright Commission, De Grauwe obtained his PhD degree at Johns Hopkins University in 1973. He started to work as an intern at the European Economic Community in 1969 and later went on to become a research assistant, and subsequently a professor at the Center for Economic Studies of the Katholieke Universiteit Leuven. In 1973 De Grauwe began to work as an economist at the International Monetary Fund and accepted positions at the Centre for European Policy Studies and the European Central Ba ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2012–13 Cypriot Financial Crisis
1 (one, unit, unity) is a number representing a single or the only entity. 1 is also a numerical digit and represents a single unit of counting or measurement. For example, a line segment of ''unit length'' is a line segment of length 1. In conventions of sign where zero is considered neither positive nor negative, 1 is the first and smallest positive integer. It is also sometimes considered the first of the infinite sequence of natural numbers, followed by 2, although by other definitions 1 is the second natural number, following 0. The fundamental mathematical property of 1 is to be a multiplicative identity, meaning that any number multiplied by 1 equals the same number. Most if not all properties of 1 can be deduced from this. In advanced mathematics, a multiplicative identity is often denoted 1, even if it is not a number. 1 is by convention not considered a prime number; this was not universally accepted until the mid-20th century. Additionally, 1 is ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
