abu yahya's definitions
(ECONOMICS) ratio between a country's foreign exchange rate and the real purchasing power of its local currency.
The actual exchange rate between (say) the yen and the US dollar tells you nothing about the relative strength of the two currencies. The US dollar buys 92.57 yen (17 May 2010) right now, which sounds like a lot. But $100, converted into ¥9,257, only buys $71 worth of actual goods & services. In order for the yen:dollar exchange rate to reflect real purchasing power of the two currencies, the US dollar should be able to buy ¥130.
The real exchange rate for the US dollar against the Japanese yen is 1.41 (meaning the yen is costlier than the dollar in real terms).
The actual exchange rate between (say) the yen and the US dollar tells you nothing about the relative strength of the two currencies. The US dollar buys 92.57 yen (17 May 2010) right now, which sounds like a lot. But $100, converted into ¥9,257, only buys $71 worth of actual goods & services. In order for the yen:dollar exchange rate to reflect real purchasing power of the two currencies, the US dollar should be able to buy ¥130.
The real exchange rate for the US dollar against the Japanese yen is 1.41 (meaning the yen is costlier than the dollar in real terms).
The recent (March-May) fall of the euro against the US dollar has brought the real exchange rate of the two currencies into approximate parity.
by Abu Yahya May 18, 2010
Get the real exchange ratemug. (ECONOMICS) the central bank of the United States; often called "the Fed" for short. Sole bank of issue for the US dollar since 1971*; issuer of nearly all US currency since 1914.
Created in December 1913 through the Federal Reserve Act; while signed into law by Pres. Wilson, the basic outline of the FRB was developed by the Aldrich-Vreeland Committee (see Aldrich-Vreeland Act) during the Taft Administration (1909-1913).
In addition to issuing currency, the Fed is responsible for some (but not all) oversight of banks; management of the nation's money supply (using purchases and sales of US Treasury securities; see monetary policy); and management of a national check clearing system.
The Fed includes two central managing committees, the Federal Reserve Board and the Federal Open Market Committee (FOMC). It also has 12 district banks; each is known as a Federal Reserve Bank.
The Federal Reserve System is a member of the International Monetary Fund (IMF) and the Bank of International Settlements (BIS).
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*Until 1971, the US Treasury issued a small share of bank notes, or "national notes." They were almost identical in appearance to Federal Reserve notes.
Between 1863 and 1935, federally chartered banks national banks were allowed to issue currency equal to 90% of US treasury securities deposited with the US Treasury. After 1914, when the Fed commenced operations, it nearly stopped entirely.
Created in December 1913 through the Federal Reserve Act; while signed into law by Pres. Wilson, the basic outline of the FRB was developed by the Aldrich-Vreeland Committee (see Aldrich-Vreeland Act) during the Taft Administration (1909-1913).
In addition to issuing currency, the Fed is responsible for some (but not all) oversight of banks; management of the nation's money supply (using purchases and sales of US Treasury securities; see monetary policy); and management of a national check clearing system.
The Fed includes two central managing committees, the Federal Reserve Board and the Federal Open Market Committee (FOMC). It also has 12 district banks; each is known as a Federal Reserve Bank.
The Federal Reserve System is a member of the International Monetary Fund (IMF) and the Bank of International Settlements (BIS).
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*Until 1971, the US Treasury issued a small share of bank notes, or "national notes." They were almost identical in appearance to Federal Reserve notes.
Between 1863 and 1935, federally chartered banks national banks were allowed to issue currency equal to 90% of US treasury securities deposited with the US Treasury. After 1914, when the Fed commenced operations, it nearly stopped entirely.
The Federal Reserve System has twelve district banks, whose management is chose by bank holding companies. The president of each district bank is himself likely to have been an officer of a bank holding company. Hence, regulatory capture was built into the system from the beginning.
by Abu Yahya May 5, 2010
Get the Federal Reserve Systemmug. (US HISTORY) federally chartered bank. In 1863, the US Congress passed the National Bank Act that empowered banks with federal charters to issue currency backed by US Treasury securities.
National bank notes were issued until 1935; after 1928, they looked exactly the same as "national notes," or paper money circulated by the US Treasury.
(The US Treasury stopped issuing banknotes in 1971. Such notes were distinguished from federal reserve notes by a red seal and the absence of the legend, "federal reserve note" at the top of the bill).
National bank notes were issued until 1935; after 1928, they looked exactly the same as "national notes," or paper money circulated by the US Treasury.
(The US Treasury stopped issuing banknotes in 1971. Such notes were distinguished from federal reserve notes by a red seal and the absence of the legend, "federal reserve note" at the top of the bill).
Any national bank could issue currency equal in value to 90% of US treasury securities that it had on deposity with the Treasury. National bank notes initially had their own distinctive engraving, but after 1928 were visually almost indistinguishable from federal reserve notes.
by Abu Yahya May 5, 2010
Get the national bankmug. (ECONOMICS) Total unemployed, plus discouraged workers, plus all other persons marginally attached to the labor force, as a percent of the civilian labor force plus all persons marginally attached to the labor force. This includes workers who are not counted as "discouraged workers" for minor technical reasons. Therefore, if one wants to cite the percentage of discouraged unemployed, the true figure is U-5, not U-4.
The US Bureau of Labor Statistics regularly publishes six estimates of unemployment. The others are U-1, U-2, U-3, U-4, and U-6. Eurostat publishes one monthly estimate of unemployment for the European Union, which is approximately midway between U-3 and U-4.
The unemployment statistics for the USA are collected through a monthly Current Population Survey (CPS) (also known as the household survey) and an establishment survey.
The US Bureau of Labor Statistics regularly publishes six estimates of unemployment. The others are U-1, U-2, U-3, U-4, and U-6. Eurostat publishes one monthly estimate of unemployment for the European Union, which is approximately midway between U-3 and U-4.
The unemployment statistics for the USA are collected through a monthly Current Population Survey (CPS) (also known as the household survey) and an establishment survey.
For economists, U-5 and U-6 can help provide some insight into labor market movements. In particular, the spread between U-5 and U-6 can show how quickly businesses are returning to normality after a recession, because it offers a way to gauge changes in the number of hours worked as well as in the number of workers hired.
by Abu Yahya July 15, 2010
Get the U-5mug. (ACCOUNTING) the total amount of money paid to a company during the period covered by a statement. For example, during a quarterly statement of cash flow, "cash flow" means the firm received payments or realized capital gains of that much money.
During the same period, the firm may have billed out (accounts receivable) a certain amount for which it has not received payment, and received payment on account for bills it made before the quarter began.
This is not the same as operating cash flow, which is revenue minus operating expenses.
During the same period, the firm may have billed out (accounts receivable) a certain amount for which it has not received payment, and received payment on account for bills it made before the quarter began.
This is not the same as operating cash flow, which is revenue minus operating expenses.
Over the course of a few months, the cash flow for a business is about the same as revenue, as payments will generally come in at about the same rate as the firm bills customers.
This NOT true for operating cash flow or net cash flow.
This NOT true for operating cash flow or net cash flow.
by Abu Yahya September 20, 2010
Get the cash flowmug. (STATISTICS) a range of values for which you are x percent confident contains the correct answer. Answers to a statistical question which are ranged from the lowest likely value to the highest; answers outside of this range are highly unlikely.
Presupposes that you are estimating a value based on sample data, and the sample data has a genuinely random variance.
Usually the confidence interval is for a 95% confidence, meaning there is only a 5% probability that the true value is OUTSIDE the interval.
Presupposes that you are estimating a value based on sample data, and the sample data has a genuinely random variance.
Usually the confidence interval is for a 95% confidence, meaning there is only a 5% probability that the true value is OUTSIDE the interval.
ANNA: I've been driving your car for about a month.
JAMES: And what you think is the MPG?
ANNA: It's probably about 25 MPG, with a 95% confidence interval of 19.5 to 32 MPG.
JAMES: Holy cow! Any Prussians in your family tree?
JAMES: And what you think is the MPG?
ANNA: It's probably about 25 MPG, with a 95% confidence interval of 19.5 to 32 MPG.
JAMES: Holy cow! Any Prussians in your family tree?
by Abu Yahya April 23, 2010
Get the confidence intervalmug. German, *noun*: "foundation"; a type of business organization dating from the late 19th century in which one or more companies are owned by a foundation. The foundation, in turn, is governed not by shareholders, but by whomever is chartered as a stakeholder in the firm, such as workers, financial planners, local residents of the town where the firm operates, and so on.
The biggest company owned by a foundation is Robert Bosch GmBH, which is 92% owned by Robert Bosch Stiftung (Stuttgart, Germany). Bertelsmann AG (Guetersloh, Germany) is owned by the Bertelsmann-Stiftung, which appears to possess the largest endowment of any German foundation; the affiliated company owns an enormous media empire.
Plural: Stiftungen
The biggest company owned by a foundation is Robert Bosch GmBH, which is 92% owned by Robert Bosch Stiftung (Stuttgart, Germany). Bertelsmann AG (Guetersloh, Germany) is owned by the Bertelsmann-Stiftung, which appears to possess the largest endowment of any German foundation; the affiliated company owns an enormous media empire.
Plural: Stiftungen
The prevalence of the *Stiftung* in German industry probably contributed to the excellence of German manufactures, since the affiliated companies were managed by engineers.
by Abu Yahya February 23, 2009
Get the Stiftungmug.