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Samenvatting Woordenlijst begrippen Macro-Economie
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Woordenlijst begrippen Macro-Economie
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Macro-Economie WoordenlijstCase-Shiller index = US house prices Hysterese = vraag blijft na een crisis zwak
Northern Rock = Britse bank die in 2007 failliet ging
Lehmann Brothers = Amerikaanse zakenbank die in 2008 failliet ging
NINJA-lening = No Income, No Job, Assets
Subrimes = rommelhypotheken met hoog risico dat deze niet worden terugbetaald
CDO = Collateralized Debt Obligation (Tsjernobyl Debt Obligation)
FED = Federal Reserve System (Amerikaanse Centrale Bank)
Jerome Powell = voorzitter van de FED
Christine Lagarde = voorzitter van de ECB
Overheidsbestedingen = overheidsconsumptie + overheidsinvesteringen
Overheidsuitgaven = overheidsbestedingen + sociale uitkeringen + rente op schuld
LFS = EU Labour Force Survey
HICP = Harmonised Index of Consumer Price (measure of the cost of living)
Pure inflatie = lonen en prijzen stijgen in dezelfde mate
Okun’s Law = hoe meer groei, hoe minder werkloosheid
Phillips curve = meer werkloosheid zorgt voor daling van inflatie
Trade surplus = exports > imports
Trade deficit = exports < imports
Inventory investment = difference between production and sales
Begrotingstekort = wanneer overheid in één jaar meer uitgeeft dan binnenkrijgt (-deficit)
Begrotingssurplus = wanneer overheid in één jaar meer binnenkrijgt dan uitgeeft
Gezamenlijke overheid = federaal/nationaal niveau + sociale zekerheid + gemeenschappen en
gewesten + steden, gemeentes, provincies
IMF = Internationaal Monetair Fonds
Structureel begrotingstekort = zonder rekening te houden met eenmalige correcties (verkoop
gebouwen) of economische groei
Primair begrotingstekort = zonder rekening te houden met rentebetalingen
Overheidsschuld = opeengestapelde begrotingstekorten van afgelopen jaren
Schuldgraad of schuldpeil = overheidsschuld in verhouding tot BBP
, Crowding In effect (omgekeerde koekoekseffect) = begrotingsoverschotten
Crowding Out effect (verdringingseffect) = begrotingstekorten
Expansionary open market operation = centrale bank vergoot het aanbod van geld door obligaties
op te kopen
Contractionary open market operation = centrale bank verkleint aanbod van geld door obligaties te
verkopen
QE = Quantitative Easing = Kwantitatieve Verruiming (centrale bank koop obligaties op)
T-Bills = Treasury Bills = kortlopend schuldpapier (3-12 maanden)
Financial intermediaries = financiële tussenpersonen (banken)
Ø = kasreserveringscoëfficiënt (reserve ratio)
High-Power money = geld van de ECB (basisgeld)
Liquiditeitsval (Keynes) = wanneer mensen hun geld niet meer uitgeven (expansief budgettair beleid)
Defaulting = kans op niet terugbetalen van obligatie
Capital ratio = capital / assets
Leverage ratio = assets / capital
Liabilities = a thing for which someone is responsible, especially an amount of money owed
Insolventie = te hoge leverage kan voor een te laag of zelfs negatief EV leiden
ROE = return on equity (winst / EV)
Fire Sale prices = iets verkopen aan een prijs onder de werkelijke waarde
Demand deposit = a deposit of money that can be withdrawn without prior notice
Narrow Banking = commerciële banken mogen enkel nog beleggen in veilige obligaties en mogen
geen risicovolle leningen meer verstrekken
Federal Deposit Insurance = €100.000 beschermd per persoon per bank (deposito
beschermingsregeling)
Borrowing rate = (r + x)
SIV’s = structured investment vehicles = A structured investment vehicle (SIV) is a pool of investment
assets that attempts to profit from credit spreads between short-term debt and long-term structured
finance products such as asset-backed securities (ABS).
Securisation = the creation of securities based on a bubble of assets (effectisering)
MBS = mortgage-based securities = an investment similar to a bond that is made up of a bundle of
home loans bought from the banks that issued them.
Wholesale Funding = a process in which banks rely on borrowing from other banks or investors to
finance the purchase of their assets.
Toxic assets = risicovolle activa (Buffet: Financiële massavernietigingswapens)
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