MACRO GLOSSARY

Symbol Definition
A Total Factor Productivity
AD Aggregate Demand
AS Aggregate Supply
C Consumption
CA Current Account
d Depreciation
e Real Exchange Rate
enom Nominal Exchange Rate
Expenditure Identity Y=C+I+G+NX
G Public Spending
GDP Gross Domestic Product
i Nominal Interest Rate
I Investment
Id Investment Demand
K Capital
KFA Capital and Financial Account
LOE Large Open Economy
M Nominal Money Balances
M/P Real Money Balances
N Labor
NFE Long-term (Potential) Labor
NX Net Exports
π Inflation
πFOR Inflation in Foreign Country
P Price Level
πe Expected Inflation
PFOR Price Level in Foreign Country
Pop Population
Production Function Y=AK.3N.7
r Real Interest Rate
S National Savings
Sd National Savings Demand
Sg Public Savings
Sint International Savings
Sp Private Savings
SOE Small Open Economy
T Tax Revenue
u Unemployment Rate
TFP Total Factor Productivity
Y Real Output
YFE Long-term (Potential) Real Output