abu yahya's definitions
(US GOVERNMENT) bureau within the federal government of the United States; part of the Department of Labor. Measures unemployment, hours worked, hourly wages, inflation, productivity, and so on.
The Department of Labor was created as a result of the NLRA (1935), which gave workers the right to organize.
The Department of Labor was created as a result of the NLRA (1935), which gave workers the right to organize.
Yesterday the Bureau of Labor Statistics (BLS) published its monthly report of hours worked. This revealed that, while employees are working more hours, unemployment has not declined and wages continue to decline.
by Abu Yahya July 15, 2010
Get the Bureau of Labor Statistics mug.(FINANCE) the widely-held belief by most traders or speculators that Federal Reserve Chairman Alan Greenspan (s.1987 to 2006) would use monetary policy to ensure that asset prices would not fall below a certain level.
A "put" here refers to the put option, a financial derivative that allows the owner the guaranteed right to sell a fixed amount of the underlying asset for a fixed strike price. A person who has a put for the assets she owns therefore is immune from the risk of those assets falling below a particular floor.
In the case of the Greenspan put, it was widely observed that Greenspan intervened in order to protect gains in asset values; this tended to guarantee that purchases of financial assets during Greenspan's tenure were very unlikely to be mistakes. This, of course, created conditions of moral hazard in the asset markets. particularly in financial stocks and in housing prices.
A "put" here refers to the put option, a financial derivative that allows the owner the guaranteed right to sell a fixed amount of the underlying asset for a fixed strike price. A person who has a put for the assets she owns therefore is immune from the risk of those assets falling below a particular floor.
In the case of the Greenspan put, it was widely observed that Greenspan intervened in order to protect gains in asset values; this tended to guarantee that purchases of financial assets during Greenspan's tenure were very unlikely to be mistakes. This, of course, created conditions of moral hazard in the asset markets. particularly in financial stocks and in housing prices.
The outcome of that (October 1994) rate cut turned out to be far worse, as the committee's actions came to be viewed as the Greenspan Put, meaning speculators could take enormous amounts of risk trusting that Greenspan would do anything to stop the market from a serious decline.
William A. Fleckenstein & Frederick Sheehan, *Greenspan's bubbles* (2008), p.61
William A. Fleckenstein & Frederick Sheehan, *Greenspan's bubbles* (2008), p.61
by Abu Yahya April 15, 2010
Get the Greenspan put mug.(FINANCE) a financial derivative that consists of a contract to buy a fixed amount of a thing at a fixed price at a fixed time in the future,. For example, a commodity future may specify 1000 British barrels (bbl) of West Texas Intermediate (WTI) crude oil for $85.75/bbl, for delivery at Cushing, OK, on 31 November 2010.
Futures are "written" by the person with the commodity to sell, and sold to either a financial speculator or else to someone who wants the product--in this case, an oil refinery. Sellers/owners do this because they want to be assured of a fixed price for the thing they're selling. The official reason for buying a future is to get a fixed price for something. This allows businesses to plan ahead.
However, since futures contracts are traded on secondary markets, it's possible to make (or lose) a lot of money trading them.
Futures are "written" by the person with the commodity to sell, and sold to either a financial speculator or else to someone who wants the product--in this case, an oil refinery. Sellers/owners do this because they want to be assured of a fixed price for the thing they're selling. The official reason for buying a future is to get a fixed price for something. This allows businesses to plan ahead.
However, since futures contracts are traded on secondary markets, it's possible to make (or lose) a lot of money trading them.
SOMEBODY: A futures contract can be extremely valuable for doing business. One of the best examples was Southwest Airlines, which weathered the oil crisis of 2007-2008 with futures for aviation fuel. When the market price of fuel doubled, Southwest was able pay a low, low contract price.
SOMEBODY ELSE: Doesn't it ever backfire?
SOMEBODY: Yes, the market price could fall through the floor and you'd be stuck paying THAT instead of the new, lower price. But at least you know what your cash flow will be.
SOMEBODY ELSE: Doesn't it ever backfire?
SOMEBODY: Yes, the market price could fall through the floor and you'd be stuck paying THAT instead of the new, lower price. But at least you know what your cash flow will be.
by Abu Yahya April 5, 2010
Get the futures contract mug.national income and product accounting; refers to the formal system of measuring capital accounts, current accounts, and gross domestic product.
National income and product accounting is the centerpiece of national economic
accounting in the United States. The NIPA's show the real and nominal value of output, the composition of output, and the distribution across types of income generated in its production.
Abraham & Mackie, *Beyond the Market,* p.40
accounting in the United States. The NIPA's show the real and nominal value of output, the composition of output, and the distribution across types of income generated in its production.
Abraham & Mackie, *Beyond the Market,* p.40
by Abu Yahya February 14, 2009
Get the NIPA mug.(US GOVERNMENT) one of two governing boards of the US Federal Reserve System (the Usonian Central Bank). The FRB consists of seven governors appointed by the White House to staggered terms of 14 years.
Governor appointments are subject to Senate confirmation.
The FRB sets monetary policy. Its seven members also serve on the other governing board of the Fed, the FOMC. However, the FRB has sole responsibility for discount rates and reserve requirements, and it is also responsible for enforcement of banking regulation.
Governor appointments are subject to Senate confirmation.
The FRB sets monetary policy. Its seven members also serve on the other governing board of the Fed, the FOMC. However, the FRB has sole responsibility for discount rates and reserve requirements, and it is also responsible for enforcement of banking regulation.
Despite the fact that the Chairman of the Federal Reserve Board has the same power as the other six governors, most people have only heard of Alan Greenspan (1987-2006) or Ben Bernanke (2006-present). About the same time, Susan M. Phillips (1991-1998) held approximately equal power on the Board; so did Roger W. Ferguson, Jr. (1997-2006).
Because governors almost never serve their full terms, there are currently only five governors on the board. The two longest-serving members, Bernanke and Vice Chair Donald Kohn, have only been there since August 2002.
Because governors almost never serve their full terms, there are currently only five governors on the board. The two longest-serving members, Bernanke and Vice Chair Donald Kohn, have only been there since August 2002.
by Abu Yahya June 17, 2010
Get the Federal Reserve Board mug.a type of shantytown whose buildings are made with mud brick, mortar, or found materials.
Prior to the 1950's, a "hutment" could mean any sort of temporary barracks.
Prior to the 1950's, a "hutment" could mean any sort of temporary barracks.
These hutment colonies consist of hovels made of a variety of hard and soft materials like pieces of wood, rags, tin sheets, mud, bricks and any such thing that comes in handy.
Pushpa Agnihotri, *Poverty amidst prosperity: survey of slums* (1994), p.44
Pushpa Agnihotri, *Poverty amidst prosperity: survey of slums* (1994), p.44
by Abu Yahya April 10, 2010
Get the hutment mug.the net purchase of financial assets in a country by foreigners. Put another way, the capital account balance is the net influx of money from overseas investors. It includes net purchases of domestic financial assets by foreigners minus net purchases of foreign financial assets by domestic citizens.
The capital account balance over short periods of time (e.g., a fortnight) is extremely volatile; over a period of a year, however, it usually offsets the current account balance. For example, in all years since 1980, the USA has run a large-to-huge current account deficit, but in most years it has run a capital account surplus that is almost as big as the current account deficit.
The capital account balance over short periods of time (e.g., a fortnight) is extremely volatile; over a period of a year, however, it usually offsets the current account balance. For example, in all years since 1980, the USA has run a large-to-huge current account deficit, but in most years it has run a capital account surplus that is almost as big as the current account deficit.
The capital account balance often permits a huge trade deficit to persist over several decades without a significant fall in the exchange rate of a nation's currency.
by Abu Yahya February 14, 2009
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