Andrew Jackson
(1767–1845)US general and Democratic statesman, 7th President of the USA (1829–37). After waging several campaigns against American Indians, he defeated a British army at New Orleans (1815) and ...
asset-based monetary aggregate
A measure of money supply based not on notes and coins but on the price behaviour of certain assets, such as property prices, exchange rates, and other securities. The intent ...
Bank of Canada
(Canada).Founded in 1934 as a private institution it subsequently passed into government ownership in 1938. Responsibility for policy is vested in the Board of Directors under the Bank of ...
Bank of England
The central bank of the UK. It was established in 1694 as a private bank by London merchants in order to lend money to the state and to deal with the national debt. It came under public ownership in ...
Banque de France
The central bank of France. Established in 1800 and nationalized in January 1946, it was granted operational independence in 1993 as a preparation for European Monetary Union. It is now linked to the ...
Benjamin Harrison
(1833–1901)US Republican statesman, 23rd President of the USA (1889–93). He was the grandson of William Henry Harrison.
business cycle
Observed changes to economic conditions which move from prosperity through recession to depression and hence back to recovery and further prosperity. Also known as the economic cycle. See, for ...
central bank
A bank which controls a country's money supply and monetary policy. It acts as a banker to other banks, and a lender of last resort. In some countries, including the UK, the central bank is also the ...
deflation
The situation in which there is a general decrease in prices, especially when this is accompanied by falling levels of output, employment, and trade. Because of these associations, advocates of ...
directive
1 (Banking; USA) An instruction from the Federal Reserve Open Market Committee to the operating arm of the Federal Reserve, the Federal Reserve Bank of New York (aka the desk), to pursue a given ...
discount window
(Banking; USA).A facility provided by the Federal Reserve enabling banks to borrow reserves against eligible assets. Now also applied to the same activity in other countries.
divisia money
A method for calculating money supply using an aggregate of all monetary aggregates weighted by the degree of liquidity. Therefore, changes in M0, for example, would count for more in ...
Federal funds rate
The highly volatile and sensitive interest rate charged between member banks of the Federal Reserve System. As the overnight rate paid on Federal funds, it is a key indicator of money-market interest ...
Federal Open Market Committee
(FOMC) (USA).The key policy-making committee of the Board of Governors of the Federal Reserve System. It is at such meetings that decisions about the conduct of monetary policy and the level of ...
Federal Reserve System
The US system of central banking. This consists of a Board of Governors in charge of twelve District Reserve Banks (a district here means a group of states). The Governors are appointed by the ...
fiscal policy
Those instruments at the disposal of government to achieve its policy objectives relating to government expenditure, taxation, and budget deficits or surpluses (cf. monetary policy).
fractional banking
A practice that some governments and central banks impose on their banks, requiring for a fixed fraction between cash reserves and total liabilities. If the monetary authorities increase the ratio of ...
fundamental analysis
A method for valuing companies that involves examination of their financial positions and real activities. The starting point for fundamental analysis is that the value of a company is the discounted ...
gold standard
The setting of the value of a paper currency by reference to and exchangeable for gold (cf. convertibility). The USA operated a gold standard until 1971 fixed at US$35 an ounce.[...]
