Inertial Inflation
Inertial inflation is a situation in which all prices in an Economics, economy are continuously adjusted with relation to a price index by force of contracts. Changes in price indices trigger changes in prices of goods. Contracts are made to accommodate the price-changing scenario by means of indexation. Indexation in a high-inflation Economic system, economy is evident when, for instance, a given price must be recalculated later to incorporate inflation accumulated over the period to "correct" the price. In other cases, local currency prices can be expressed in terms of a foreign currency. At some point in the future, prices are converted back from the foreign currency equivalent into local currency. The conversion from a "stronger" currency equivalent value, the foreign currency, is intended to protect the real vs. nominal in economics, real value of goods, as the real vs. nominal in economics, nominal value depreciates. In the medium and long terms, economic agents begin to forec ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Price
A price is the (usually not negative) quantity of payment or compensation given by one party to another in return for goods or services. In some situations, the price of production has a different name. If the product is a "good" in the commercial exchange, the payment for this product will likely be called its "price". However, if the product is "service", there will be other possible names for this product's name. For example, the graph on the bottom will show some situations A good's price is influenced by production costs, supply of the desired item, and demand for the product. A price may be determined by a monopolist or may be imposed on the firm by market conditions. Price can be quoted to currency, quantities of goods or vouchers. * In modern economies, prices are generally expressed in units of some form of currency. (More specifically, for raw materials they are expressed as currency per unit weight, e.g. euros per kilogram or Rands per KG.) * Although prices ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Economic History Of Chile
The economy of Chile has shifted substantially over time from the heterogeneous economies of the diverse indigenous peoples to an early husbandry-oriented economy and finally to one of raw material export and a large service sector. Chile's recent economic history (since 1973) has been the focus of an extensive debate from which neoliberalism acquired its modern meaning. Chile emerged into independence as a rural economy on what was the periphery of the Spanish Empire. A period of relative free trade that began with independence in the 1810s brought a modernizing development of certain sectors of the Chilean economy. This was accompanied by formation of a local business class, a novelty in Chile. Chile experienced its first modern economic crisis with the Long depression in the 1870s. The exploitation of lucrative nitrate deposits of the north conquered in the War of the Pacific (1879–1884) marked a whole epoch in the history of Chile and the economic legacy of nitrate has been w ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Plano Cruzado
Plano may refer to: Native Americans * Plano cultures, the Late Paleo-Indian hunter-gatherer societies of the Great Plains of North America ** Plano point, the chipped stone tools of the Plano cultures Places in the United States * Plano, California, former name of Sanborn * Plano, Illinois ** Plano (Amtrak station), train station in Plano, Illinois * Plano, Indiana * Plano, Iowa * Plano, Missouri * Plano, Ohio * Plano, Texas Education in the United States * Plano High School (Illinois), a high school in Plano, Illinois * Plano Senior High School, a senior high school in Plano, Texas * Plano Independent School District, the school district serving Plano, Texas, and surrounding cities * University of Plano, a former liberal arts college in Plano, Texas People * Lorenzo de Plano (born 1994), American businessman * Óscar Plano (born 1991), Spanish footballer Other uses * Plano, California, fictitious home town near San Jose, of the protagonist of Donna Tartt's novel ''The Secre ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Luiz Carlos Bresser-Pereira
Luiz Carlos Bresser-Pereira (born 30 June 1934) is a Brazilian economist and social scientist. He teaches at the Getulio Vargas Foundation, in São Paulo. Since 1981, he has edited the ''Brazilian Journal of Political Economy''. Bresser-Pereira served as finance minister in the late 1980s, and in this capacity he proposed what would be eventually the Plan Brady (Brady Bond) which solved the 1980s’ major foreign debt crisis. He was minister of public administration (1995–1998) and of science and technology (1999). His work as economist is currently focused, on the theoretical side, on new developmentalism, development macroeconomics, the methodological critique of neoclassical economics, the theory of the democratic, social, and developmental state, and on the critique of neoliberalism; and, on the applied side, the Economy of Brazil and its society. Career Luiz Carlos Bresser-Pereira was born in 1934 in São Paulo. His bachelor's degree was in Law by the University of Sà ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Brazil
Brazil ( pt, Brasil; ), officially the Federative Republic of Brazil (Portuguese: ), is the largest country in both South America and Latin America. At and with over 217 million people, Brazil is the world's fifth-largest country by area and the seventh most populous. Its capital is BrasÃlia, and its most populous city is São Paulo. The federation is composed of the union of the 26 States of Brazil, states and the Federal District (Brazil), Federal District. It is the largest country to have Portuguese language, Portuguese as an List of territorial entities where Portuguese is an official language, official language and the only one in the Americas; one of the most Multiculturalism, multicultural and ethnically diverse nations, due to over a century of mass Immigration to Brazil, immigration from around the world; and the most populous Catholic Church by country, Roman Catholic-majority country. Bounded by the Atlantic Ocean on the east, Brazil has a Coastline of Brazi ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Federal Reserve
The Federal Reserve System (often shortened to the Federal Reserve, or simply the Fed) is the central banking system of the United States of America. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a series of financial panics (particularly the panic of 1907) led to the desire for central control of the monetary system in order to alleviate financial crises. Over the years, events such as the Great Depression in the 1930s and the Great Recession during the 2000s have led to the expansion of the roles and responsibilities of the Federal Reserve System. Congress established three key objectives for monetary policy in the Federal Reserve Act: maximizing employment, stabilizing prices, and moderating long-term interest rates. The first two objectives are sometimes referred to as the Federal Reserve's dual mandate. Its duties have expanded over the years, and currently also include supervising and regulating banks, maintaining the stabili ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Hyperinflation
In economics, hyperinflation is a very high and typically accelerating inflation. It quickly erodes the real value of the local currency, as the prices of all goods increase. This causes people to minimize their holdings in that currency as they usually switch to more stable foreign currencies. When measured in stable foreign currencies, prices typically remain stable. Unlike low inflation, where the process of rising prices is protracted and not generally noticeable except by studying past market prices, hyperinflation sees a rapid and continuing increase in nominal prices, the nominal cost of goods, and in the supply of currency. Typically, however, the general price level rises even more rapidly than the money supply as people try ridding themselves of the devaluing currency as quickly as possible. As this happens, the real stock of money (i.e., the amount of circulating money divided by the price level) decreases considerably.Bernholz, Peter 2003, chapter 5.3 Almost all ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Black Economy
A black market, underground economy, or shadow economy is a clandestine market or series of transactions that has some aspect of illegality or is characterized by noncompliance with an institutional set of rules. If the rule defines the set of goods and services whose production and distribution is prohibited by law, non-compliance with the rule constitutes a black market trade since the transaction itself is illegal. Parties engaging in the production or distribution of prohibited goods and services are members of the . Examples include the illegal drug trade, prostitution (where prohibited), illegal currency transactions, and human trafficking. Violations of the tax code involving income tax evasion in the . Because tax evasion or participation in a black market activity is illegal, participants attempt to hide their behavior from the government or regulatory authority. Cash is the preferred medium of exchange in illegal transactions since cash transactions are less-easi ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Fiscal Deficit
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 cy ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Positive Feedback
Positive feedback (exacerbating feedback, self-reinforcing feedback) is a process that occurs in a feedback loop which exacerbates the effects of a small disturbance. That is, the effects of a perturbation on a system include an increase in the magnitude of the perturbation. That is, ''A produces more of B which in turn produces more of A''.Keesing, R.M. (1981). Cultural anthropology: A contemporary perspective (2nd ed.) p.149. Sydney: Holt, Rinehard & Winston, Inc. In contrast, a system in which the results of a change act to reduce or counteract it has negative feedback. Both concepts play an important role in science and engineering, including biology, chemistry, and cybernetics. Mathematically, positive feedback is defined as a positive loop gain around a closed loop of cause and effect. That is, positive feedback is Phase (waves), in phase with the input, in the sense that it adds to make the input larger. Positive feedback tends to cause Control theory#Stability, system i ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Hyperinflation
In economics, hyperinflation is a very high and typically accelerating inflation. It quickly erodes the real value of the local currency, as the prices of all goods increase. This causes people to minimize their holdings in that currency as they usually switch to more stable foreign currencies. When measured in stable foreign currencies, prices typically remain stable. Unlike low inflation, where the process of rising prices is protracted and not generally noticeable except by studying past market prices, hyperinflation sees a rapid and continuing increase in nominal prices, the nominal cost of goods, and in the supply of currency. Typically, however, the general price level rises even more rapidly than the money supply as people try ridding themselves of the devaluing currency as quickly as possible. As this happens, the real stock of money (i.e., the amount of circulating money divided by the price level) decreases considerably.Bernholz, Peter 2003, chapter 5.3 Almost all ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Economics
Economics () is the social science that studies the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and services. Economics focuses on the behaviour and interactions of Agent (economics), economic agents and how economy, economies work. Microeconomics analyzes what's viewed as basic elements in the economy, including individual agents and market (economics), markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyzes the economy as a system where production, consumption, saving, and investment interact, and factors affecting it: employment of the resources of labour, capital, and land, currency inflation, economic growth, and public policies that have impact on glossary of economics, these elements. Other broad distinctions within economics include those between positive economics, desc ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |