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The reverse of Gresham's law, that good money drives out bad money whenever the bad money becomes nearly worthless, has been named "Thiers' law" by economist Peter Bernholz in honor of French politician and historian Adolphe Thiers. [26] "Thiers' Law will only operate later [in the inflation] when the increase of the new flexible exchange rate ...
Loss aversion coupled with myopia has been shown to explain macroeconomic phenomena, such as the equity premium puzzle. [17] Loss aversion to kinship is an explanation for aversion to inheritance tax. [18]
Goodhart's law is an adage often stated as, "When a measure becomes a target, it ceases to be a good measure". [1] It is named after British economist Charles Goodhart, who is credited with expressing the core idea of the adage in a 1975 article on monetary policy in the United Kingdom: [2]
The constant pressure to spend can create bad money habits and derail your financial future. While “living in the moment,” is a noble intent, doing so can damage all the future moments that ...
Similarly, the word “budget” is a turnoff because it describes the drudgery of money management — tallying coffee purchases and scouring bank statements for overlapping streaming services.
Your App Addiction. In the list of things to waste money on, smartphone apps are a big one. Those $1.99 purchases seem inexpensive enough, but they can snowball -- especially if you have kids who ...
In econometrics, the estimate of the effect of one thing on another (say, the estimate of the effect of the minimum wage upon employment decisions) is said to be "biased" if the technique that was used to obtain the estimate has the effect that, a priori, the expected value of the estimated effect differs from the true effect, whatever the ...
Slang terms for money often derive from the appearance and features of banknotes or coins, their values, historical associations or the units of currency concerned. Within a language community, some of the slang terms vary in social, ethnic, economic, and geographic strata but others have become the dominant way of referring to the currency and are regarded as mainstream, acceptable language ...