By Nelson Brian
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Extra info for A Comprehensive Dictionary of Economics
Time-varying quantity. Usually, ~ that other quantity is the price •" DependenclI Theorv I of some other asset such as bonds, stocks, currencies or '-. Blami"« Ille sYSlem ,110. • Glullal cconomv la~ors rIch COUlilfles commodities. It could also be ... "" • G10hal economu cKPloils 11001 natIOns I an index or the temperature. ~ ~ • RIch nahons mlclillonalfy keep lIoor SOote SOote I " .. ~. ~ .. 113110ns llOor . RIch lIallOlIS eKlllolfS natural resources and labor to tloor coUnltteS .. - . Core· SeIDl pentl/wry·· Periphery ~ ~ derived demand the demand that arises or I • IS ActIvIty • dependent variable the variable to be 'explained' with the help of 'independent variables'.
1'0' • dual labour market a segmented labour market in ~vhich one part is, usually and I~ broa~ terms, characterised by high skills and wages, job security and desirable working and car~er development conditions, WhIle the other part has low wages, no or inferior benefits, a temporary or unstable nature, no or little chance of advancement and otherwise poorer working conditions. • dummy variables In an econometric model a variable which marks or ~ncodes a particular attribute. g. 1 for pass and 0 for fail .
A 'scale reliability coefficient'. , some attribute of the test-taker). A score is computed from each test item and the overall rating called a 'scale' is defined by the sum of these scores over all the test items. Then reliability is defined to be the square of the correlation between the measured scale and the underlying factor that the scale was supposed to measure. • cross-section data is the parallel data on many units such as individuals, households, firms or governments. • cross-validation a way of choosing the window width for a kernel estimation.