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Definition of Beggar-thy-neighbor devaluation
A devaluation that is designed to cheapen a nation's currency and thereby
A policy designed to increase an economy's prosperity at the expense of another country's prosperity.
An international trade policy of competitive devaluations and increased protective
Fall in the government-determined fixed exchange rate.
A monetary policy of matching wage and price increases with money supply increases so that the real money supply does not fall and push the economy into recession.
An economy in which imports and exports are very small relative to GDP and so are ignored in macroeconomic analysis. Contrast with open economy.
Decreasing inflation by immediately decreasing the money growth rate to a new, low rate. Contrast with gradualism.
Procedures followed by a firm in attempting to collect accounts receivables.
Procedures to collect and monitor receivables.
Standards set to determine the amount and nature of credit to extend to customers.
A company’s stated goal for how soon a customer order will be
Fiscal or monetary policy designed to influence aggregate demand for goods and services.
A policy that is a conscious, considered response to each situation as it arises. Contrast with policy rule.
An established guide for the firm to determine the amount of money it will pay as dividends.
This policy governs Canada Life's actions regarding distribution of dividends to policyholders. It's goal is to achieve a dividend distribution that is equitable and timely, and which gives full recognition of the need to ensure the ongoing solidity of the company. It also specifies that distribution to individual policyholders must be equitable between dividend classes and policyholder generations, and among policyholders within any class.
The use of government spending and taxing for the specific purpose of stabilizing the economy.
A change in government spending or taxing, designed to influence economic activity.
an economy characterized by the international
A policy designed to lower inflation without reducing aggregate demand. Wage/price controls are an example.
Insurance Policy (Credit Insurance)
A policy under which the insurance company promises to pay a benefit of the person who is insured.
Joint Policy Life
One insurance policy that covers two lives, and generally provides for payment at the time of the first insured's death. It could also be structured to pay on second death basis for estate planning purposes.
A course of action adopted by a financial institution to guide and usually determine present and future decisions in the light of given conditions.
Actions taken by the Board of Governors of the Federal Reserve System to influence the
Actions taken by the central bank to change the supply of money and the interest rate and thereby affect economic activity.
A type of insurance policy or annuity in which the owner does not receive dividends.
An economy which engages in a significant amount of trade. Contrast with closed economy.
A policy offers the potential of sharing in the success of an insurance company through the receipt of dividends.
Perfect market view (of dividend policy)
Analysis of a decision on dividend policy, in a perfect capital
A written document that serves as evidence of insurance coverage and contains pertinent information about the benefits, coverage and owner, as well as its associated directives and obligations.
Policy Acquisition Costs
Costs incurred by insurance companies in signing new policies, including expenditures on commissions and other selling expenses, promotion expenses, premium
Yearly event linked to a policy. Usually the date issued.
Policy asset allocation
A long-term asset allocation method, in which the investor seeks to assess an
Date on which the insurance company assumes responsibilities for the obligations outlined in a policy.
This is an administrative fee which is part of most life insurance policies. It ranges from about $40 to as much as $100 per year per policy. It is not a separate fee. It is incorporated in the regular monthly, quarterly, semi-annual or annual payment that you make for your policy. Knowing about this hidden fee is important because some insurance companies offer a policy fee discount on additional policies purchased under certain conditions. Sometimes they reduce the policy fee or waive it altogether on one or more additional policies purchased at the same time and billed to the same address. The rules are slightly different depending on the insurance company. There could be enormous savings if several people in the same family or business were intending to purchase coverage at the same time.
Administrative charge included in a policy Premium.
Theory that anticipated policy has no effect on output.
A formula for determining policy. Contrast with discretionary policy.
Period between two policy anniversaries.
This is the person who owns a life insurance policy. This is usually the insured person, but it may also be a relative of the insured, a partnership or a corporation. There are instances in marriage breakup (or relationship breakup with dependent children) where appropriate life insurance on the support provider, owned and paid for by the ex-spouse receiving the support is an acceptable method of ensuring future security.
The person who owns and holds all rights under the policy, including the power to name and change beneficiaries, make a policy loan, assign the policy to a financial institution as collateral for a loan, withdraw funds or surrender the policy.
Signaling view (on dividend policy)
The argument that dividend changes are important signals to investors
Tax differential view ( of dividend policy)
The view that shareholders prefer capital gains over dividends,
Tax-Related Incomes Policy (TIP)
Tax incentives for labor and business to induce them to conform to wage/price guidelines.
Traditional view (of dividend policy)
An argument that "within reason," investors prefer large dividends to
Economic activity not observed by tax collectors and government statisticians.
Variable life insurance policy
A whole life insurance policy that provides a death benefit dependent on the
An attempt to maintain the economy at or near full employment by frequent changes in policy.
A policy of minimum government intervention in the operation of the economy.
School of economic thought stressing the importance of the money supply in the economy. Adherents believe that the economy is inherently stable, so that policy is best undertaken through adoption of a policy rule.
Proposal that the money supply be increased at a steady rate equal approximately to the real rate of growth of the economy. Contrast with discretionary policy.
Real Business Cycle Theory
Belief that business cycles arise from real shocks to the economy, such as technology advances and natural resource discoveries, and have little to do with monetary policy.
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