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factor price equalization theorem diagram

Release time:2018-12-12
Теорема Лернера — Самуэльсона

Теорема Лернера — Самуэльсона


Теорема Лернера — СамуэльсонаМатериал из Википедии — свободной энциклопедииПерейти к навигацииПерейти к поискуТеорема Лернера — Самуэльсона (теорема выравнивания цен факторов производства[1]) — составная часть модели внешней торговли Хекшера — Олина — Самуэльсона. Сформулирована в 1948 году Полом Самуэльсоном, независимо от работ Аббы Лернера1933 года. Согласно теореме Лернера — Самуэльсона, при одинаковых производственных технологиях с постоянной отдачей от масштаба свободная торговля товарами будет обеспечивать полное выравнивание факторных цен производства через выравнивание товарных цен до тех пор, пока оба региона производят оба товара даже в условиях, когда внешняя миграция этих факторов производства отсутствует[1]. Содержание1 История создания2 Допущения3 Определение теоремы4 Графическая иллюстрация теоремы5 Следствие теоремы6 Критика7 См. также8 ПримечанияИстория создания[править| править код]Работы Эли Хекшера1919 года «Влияние внешней торговли на распределение дохода» (переиздана на английском языке в 1949 году[2]) и Бертиля Олина«Межрегиональная и международная торговля» в 1924 году (переиздана на английском языке в 1933 году[3]), сформулировавшие основы модели Хекшера — Олина — Самуэльсона, получили дальнейшее развитие. Так Абба Лернерв 1933 году написал статью «Цены на факторы производства и международная торговля»[4](переиздана на английском в 1952 году), где сформулировал теорему выравнивания цен и дал графическую иллюстрацию теоремы с помощью диаграммы Лернера. Параллельно и независимо от него данную теорему сформулировал и дал полное математическое описание Пол Самуэльсон, опубликовав ряд статей: «Международная торговля и выравнивание цен факторов производства» 1948 года[5], «Еще раз о международном выравнивании цен факторов производства» 1949 года[6]и «Цены факторов производства и товаров в состоянии общественного равновесия» 1953 года[7]. Впоследствии теорема о выравнивании цен на факторы производства в модели внешней торговли Хекшера — Олина — Самуэльсона была названа в честь создателей. Допущения[править| править код]Требуется принять ряд предпосылок[8]: имеется исходная модель «2х2х2» — два фактора производства, два товара, два региона;факторы производстваявляются совершенно мобильными внутри региона и немобильными между регионами;все рынки конкуренты;предложение факторов производства фиксировано;полное использование факторов производства;транспортные и информационные расходы отсутствуют;торговля является свободной;производственные функцииидентичны, линейно однородны, постоянная отдача от масштаба;не обладают свойством обратимости факторной интенсивности;оба региона после установления торговли продолжают производить оба товара[6].Определение теоремы[править| править код]Теорема о выравнивании цен на факторы производства: при выполнении всех допущений торговля между регионами приводит к выравниванию цен на товары и на факторы производства, так что в регионах сравняются ставки заработной и арендной платы вне зависимости от существующей структуры спроса или обеспеченности факторами производства[8]. Графическая иллюстрация теоремы[править| править код]Диаграмма ЛернераМодель Хекшера — Олина — Самуэльсона демонстрирует возникновение сравнительных преимуществ межрегиональной торговли из-за различий регионов в наделенности факторами производства, а раз регион вывозит избыточные факторы, то возникает увеличение спроса на этот фактор и повышение его цены[9]. На графике «Диаграмма Лернера» в связи с допущением постоянной отдачи от масштаба изоквантыединичной стоимости имеют вид:


Международная экономика

Международная экономика


Международная экономикаМатериал из Википедии — свободной энциклопедииПерейти к навигацииПерейти к поискуМеждународная экономика — это дисциплина, изучающая закономерности взаимодействия хозяйственных субъектов разных государств в области международного обмена товарами, услугами, трудом, капиталом и другими факторами производства. Содержание1 Предмет международной экономики2 Объект международной экономики3 Структура курса международной экономики4 См. такжеПредмет международной экономики[править| править код]Предметом международной экономики являются экономические отношения, которые складываются между её субъектами в связи с торговой, производственно-инвестиционной и валютно-финансовой деятельностью.. Объект международной экономики[править| править код]Объектом изучения международной экономики является всемирное или мировое хозяйство. Мировое хозяйство — это совокупность отдельных стран, участвующих в международном разделении труда и связанных системой международных экономических отношений. В качестве объектов международной экономики выступают также товары и услуги, обращающиеся в международной торговле, объем которой сегодня составляет около 9 трлн долларов США. Обмен товарами и услугами в международной экономике отличается крупными объемами, широтой ассортимента, дифференциацией по качеству. Структура курса международной экономики[править| править код]Курс теории международной экономики состоит из 2 частей: Международная микроэкономикаизучает закономерности поведения участников мирового рынка, определяемые их интересами и возможностями.Международная макроэкономикапосвящена исследованию процессов согласования внутреннего равновесия с состоянием платежного баланса. В ней показывается:Как платёжный баланссоотносится с бюджетно-налоговой и кредитно-денежной политикой;Как действия правительстваи центробанкапо корректировке внутреннего рынка могут изменить её позиции во внешнем мире.См. также[править| править код]Международные экономические отношенияМировая экономикаПредставители международной экономики(категория)Экономическая наукаЭкономическая теорияПолитическая экономияПрикладная экономика[en]МетодологияЭкономические системыМатематическая экономикаЭконометрикаЭкспериментальная экономикаМикрооснования макроэкономики[en]Вычислительная экономика[en]МикроэкономикаБюджетное множествоЗаработная платаКривая безразличияНеопределённостьНеприятие рискаНорма прибылиОбщественные благаПолезностьОжидаемаяПредельнаяТеория потребленияПрибыльПроцентРавновесиеОбщееРаспределениеРационированиеРедкость ресурсовРентаРынокСпрос и предложениеСтоимостьСтруктура рынкаКонкуренцияМонополистическаяСовершеннаяМонополияДвухсторонняяМонопсонияОлигополияОлигопсонияТоварный дефицитФиаско рынкаЦенаЭкстерналияЭластичностьЭффект доходаЭффект замещенияЭффект масштабаЭффективность по ПаретоИздержки[en]АльтернативныеНевозвратныеОбщественныеПредельныеСредниеТрансакционныеАнализ затрат и выгод[en]Излишек[en]Межвременной выбор[en]Социальный выбор[en]Теория фирмы[en]МакроэкономикаБезработицаВалютаДеньгиДенежная массаДенежно-кредитная политикаДефляцияИнфляцияГиперинфляцияКейнсианский крестКривая ФиллипсаКризисВеликая депрессияМодель AD-ASМодель IS-LMНоминальная жёсткость«Общая теория» КейнсаОжиданияАдаптивныеРациональныеПаритет покупательной способностиПлатёжный балансПроцентная ставкаРецессияТеория ростаСбереженияСистема национальных счетовСовокупный спросСтагфляцияФискальная политикаЦентральный банкТеория цикловШринкфляцияДСОР[en]Измерители национального дохода и производства[en]Инвестиции[en]Спрос на деньги[en]Уровень цен (англ.)Шок предложения[en]Шок спроса[en]Эффективный спрос[en]NAIRU[en]Математическая экономикаИсследование операцийТеория принятия решенийТеория игрДизайн механизмовМодель «затраты – выпуск»Финансовая математикаЭконометрикаАнализ временных рядовПанельный анализРегрессионный анализПриложения[en]БлагосостоянияЭкономическая географияГородаЭкономическая демографияТеория денегЗнанийЭкономическая историяМеждународнаяи мироваяОбщественный выборОкружающей средыОрганизация отраслиЭкономическая политикаРазвитияРегиональнаяРелигииСемьиСоциоэкономикаЭкономическая социологияТрудаОбщественного сектора[en]Экономическое планирование[en]Экономический анализ права[en]Природных ресурсов[en]Сельского хозяйства (англ.)Экономическая статистика[en]Финансовая[en]Школы[en]экономической мыслиЭкономическая мысль Древнего ВостокаЭкономическая мысль АнтичностиАвстрийскаяБлумингтонскаяБуддийскаяГарвардскаяДжорджизмИнституционализмИсторическаяКатедер-социализмКейнсианствоНеокейнсианствоНовоеПосткейнсианство[en]КлассическаяКонституционнаяМальтузианствоМанчестерскаяМарксистскаяНеомарксистская[en]МеркантилизмМир-системный анализМонетаризмНеоклассическаяЛозаннскаяМаржинализмНеортодоксальнаяНовая институциональнаяПоведенческаяЭкономика предложенияСаламанкскаяСтокгольмскаяФизиократияЧикагскаяЭкологическаяЭкономическая мысль Средневековья[en]Анархическая[en]МютюэлизмНовая классическая[en]Теория реального делового циклаЭкономический мейнстрим[en]Социалистическая[en]Термоэкономика[en]Феминистическая[en]Эволюционная[en]См. такжеМезоэкономикаКлассификация экономической литературы JEL Важнейшие публикации в области экономики[en]Эту статью следует викифицировать.Пожалуйста, оформите её согласно правилам оформления статей.


International Economics Glossary: C

Cabotage1. Navigation and trade by ship along a coast, especially between ports within a country. Since the 1920 Jones Act, this has been restricted in the U.S. to domestic shipping companies.2. Air transportation within a country. Often restricted to domestic carriers, in an example of barriers to trade in services.


Glossary of research economics

Glossary of research economics


.First proposed by Zellner and Theil, Econometrica, 1962, pp54-78.Contexts: econometrics; estimationa fortiori:Latin for "even stronger". Can be used to compare two theorems orproofs. Could be interpreted to mean "in the same way."Contexts: phrasesa priori:It is always used in the phrase "a priori" often shown in italics becauseit is not English, but comes from Latin.In the economics context "a priori" means "it is assumed in advance".It means: "we think it is logical that . . . " or "we had to assumesomething, and we assumed this, without evidence."The writer is also implying "I do not cite evidence here because I do notknow it or do not wish to discuss it."I do not know why they do not say this in English. It may come from theformal logic of proof in mathematics, developed over hundreds of years bypeople who knew Latin. It may have also a more precise meaning than Isaid there but I am sure this is clear enough to help. Or maybe they like"a priori" because it is so short.Contexts: phrasesA-D equilibrium:abbreviation for Arrow-Debreu equilibrium.AAEA:American Agricultural Economics Association.See their web site at http://www.aaea.org.abnormal returns:Used in the context of stock returns; means the return to a portfolio inexcess of the return to a market portfolio. Contrast excess returnswhich means something else. Note that abnormal returns can be negative.Example: Suppose average market return to a stock was 10% for some calendaryear, meaning stocks overall were 10% higher at the end of the year than atthe beginning, and suppose that stock S had risen 12% in that period. Thenstock S's abnormal return was 2%.Contexts: financeabsolute risk aversion:An attribute of a utility function. See Arrow-Pratt measure.Contexts: micro theory; financeabsorptive capacity:A limit to the rate or quantity of scientific or technological informationthat a firm can absorb. If such limits exist they provide one explanation forfirms to develop internal R&D capacities. R&D departments can not onlyconduct development along lines they are already familiar with, but they haveformal training and external professional connections that make it possiblefor them to evaluate and incorporate externally generated technical knowledgeinto the firm better than others in the firm can. In other words a partialexplanation for R&D investments by firms is to work around the absorptivecapacity constraint.This term comes from Cohen and Levinthal (1990).Source: Cohen W., and D. Levinthal. 1990. "Absorptive capacity: a newperspective on learning and innovation." Administrative ScienceQuarterly 35(1) pp 128-152.Contexts: IO; organizations; theory of the firmabstracting from:a phrase that generally means "leaving out". A model abstracts fromsome elements of the real world in its demonstration of some specificforce.Contexts: phrasesaccelerator principle:That it is the growth of output that induces continuing net investment. Thatis, net investment is a function of the change in output not itslevel.Source: BransonContexts: macroacceptance region:Occurs in the context of hypothesis testing. Let T be a test statistic.Possible values of T can be divided into two regions, the acceptance regionand the rejection region. If the value of T comes out to be in theacceptance region, the null hypothesisbeing tested is not rejected.If T falls in the rejection region, the null hypothesis is rejected.The terms 'acceptance region' and 'rejection region' may also refer to thesubsets of the sample spacethat would produce statistics T in theacceptance region or rejection region as defined above.Source: Davidson and MacKinnon, 1993, p 78-79Contexts: econometrics; statistics; estimationACIR:Advisory Council on Intergovernmental Relations, in the U.S.Contexts: organizationsactive measures:In the context of combating unemployment: policies designed to improve theaccess of the unemployed to the labor market and jobs, job-related skills,and the functioning of the labor market. Contrast passivemeasures.Source: John P. Martin, D16 readings bookContexts: labor; macroadapted:The stochastic process {Xt} and information sets {Yt}are adapted if {Xt} is a martingale difference sequencewithrespect to {Yt}.Contexts: statistics; econometricsAEA:American Economics AssociationAER:An abbreviation for the American Economic Review.Contexts: journalsaffiliated:From Milgrom and Weber (Econometrica, 1982, page 1096): Bidders' valuationsof a good being auctioned are affiliated if, roughly: "a high value of onebidder's estimate makes high values of the others' estimates morelikely."There may well be good reasons not to use the wordcorrelatedin place of affiliated. This editor isadvised that there is some mathematical difference.Source: Milgrom and Weber, Econometrica, 1982, p 1096.Contexts: auctions; micro theory; modellingaffine:adjective, describing a function with a constant slope. Distinguished fromlinearwhich sometimes is meant to imply that the function has noconstant term; that it is zero when the independent variables are zero. Anaffine function may have a nonzero value when the independent variables arezero.Examples: y = 2x is linear in x, whereas y = 2x + 7 is an affine function ofx. And y = 2x + z2 is affine in x but not in z.Contexts: real analysisaffine pricing:A pricing schedule where there is a fixed cost or benefit to the consumer forbuying more than zero, and a constant per-unit cost per unit beyond that.Formally, the mapping from quantity purchased to total price is an affinefunction of quantity.Using, mostly, Tirole's notation, let q be the quantity in units purchased,T(q) be the total price paid, p be a constant price per unit, and k be thefixed cost, an example of an affine price schedule is T(q)=k+pq.For alternative ways of pricing see linear pricing scheduleandnonlinear pricing.Source: Tirole, p 136Contexts: IOAFQT:Armed Forces Qualifications(?) Test -- a test given to new recruits in theU.S. armed forces. Results from this test are used in regressions of labormarket outcomeson possible causes of those outcomes, to control for othercauses.Contexts: data; laborAGI:An abbreviation for Adjusted Gross Income, a line item which appears on theU.S. taxpayer's tax return and is sometimes used as a measure of income whichis consistent across taxpayers. AGI does not include any accounting fordeductions from income that reduce the tax due, e.g. for family size.Contexts: public finance; laboragricultural economics:"Agricultural Economics is an applied social science that deals with howproducers, consumers, and societies use scarce resources in the production,processing, marketing, and consumption of food and fiber products." (fromPenson, Capps, and Rosson (1996), as cited by Hallam 1998).Source: Penson, Capps, and Rosson, 1996; Hallam,1998Contexts: agricultural economics; fieldsAIC:abbreviation for Akaike's Information CriterionContexts: econometrics; time series; estimationAJS:An abbreviation for the American Journal of Sociology.Contexts: journalsAkaike's Information Criterion:A criterion for selecting among nested econometric models. The AIC isa number associated with each model:AIC=ln (sm2) + 2m/Twhere m is the number of parameters in the model, andsm2 is (in an AR(m) example) the estimated residualvariance: sm2 = (sum of squared residuals for modelm)/T. That is, the average squared residual for model m.The criterion may be minimized over choices of m to form a tradeoff betweenthe fit of the model (which lowers the sum of squared residuals) and themodel's complexity, which is measured by m. Thus an AR(m) model versus anAR(m+1) can be compared by this criterion for a given batch of data.An equivalent formulation is this one: AIC=T ln(RSS) + 2Kwhere K is the number of regressors, T the number of obserations, and RSS theresidual sum of squares; minimize over K to pick K.Source: Watson's compressed notes, p. 23; RATS maual pg. 5-18Contexts: econometrics; time seriesalienation:A Marxist term. Alienation is the subjugation of people by the artificialcreations of people "which have assumed the guise of independent things."Because products are thought of as commodities with money prices, the socialprocess of trade and exchange becomes driven by forces operating independentlyof human will like natural laws.almost surely:With probability one. In particular, the statement that a series{Wn} limits to W as n goes to infinity, means thatPr{Wn-<W}=1.Contexts: probability; statistics; econometricsalternative hypothesis:"The hypothesis that the restriction or set of restrictions to be testeddoes NOT hold." Often denoted H1. Synonym for 'maintainedhypothesis.'Source: Davidson and MacKinnon, 1993, p 78-79Contexts: econometrics; statistics; estimationAmericanist:A member of a certain subfield of political science.Contexts: political scienceAMEX:American Stock Exchange, which is in New York CityContexts: organizationsaML:A programming language/environment for maximum likelihood estimation, allowingcomplicated error specifications.Their web site.Contexts: estimationAmos:A statistical data analysis program, discussed athttp://www.smallwaters.com/amos.Contexts: dataanalytic:Often means 'algebraic', as opposed to 'numeric'. E.g., in the context oftaking a derivative, which could sometimes be calculated numerically on acomputer, but is usually done analytically by finding an algebraic expressionfor the derivative.Contexts: phrasesannihilator operator:Denoted []+ with a lag operatorpolynomial in the brackets.Has the effect of removing the terms with an L to a negative power; that is,future values in the expression. Their expected value is assumed to be zeroby whoever applies the operator.Contexts: modelsAnnuity formula:If annuity payments over time are (0,P,P,...P) for n periods, and the constantinterest rate r<0, then the net present value to the recipient of theannuity can be calculated this way:NPV(A) = (1-(1+r)-n)P/rContexts: financeANOVA:Stands for analysis-of-variance, a statistical model meant to analyzedata. Generally the variables in an ANOVA analysis are categorical, notcontinuous. The term main effect is used in the ANOVA context. Themain effect of x seems to mean the result of an F test to see if thedifferent categories of x have any detectable effect on the dependent variableon average.ANOVA is used often in sociology, but rarely in economics as far as thiseditor can tell. The terms ANCOVA and ANOCOVA meananalysis-of-covariance.From Kennedy, 3rd edition, pp226-227:"Analysis of variance is a statistical technique designed to determinewhether or not a particular classification of the data is meaningful. Thetotal variation of the dependent variable (the sum of squared differencesbetween each observation and the overall mean) can be expressed as the sumof the variation between classes (the sum of the squared differencesbetween the mean of each class and the overall mean, each times the numberof observations in that class) and the variation within each class (thesum of the squared difference between each observation and its classmean). This decomposition is used to structure an F test to test thehypothesis that the between-class variation is large relative to thewithin-class variation, which implies that the classification ismeaningful, i.e., that there is a significant variation in the dependentvariable between classes. If dummy variables are used the capture theseclassifications and a regression is run, the dummy variable coefficientsturn out to be the class means, the between-class variation is theregression's "explained" variation, the within-class variation is theregression's "unexplained" variation, and the analysis of variance F testis equivalent to testing whether or not the dummy variable coefficientsare significantly different from one another. The main advantage of thedummy variable regression is that it provides estimates of he magnitudesof class variation influences on the dependent variables (as well astesting whether or not the classification is meaningful)."Analysis of covariance is an extension of analysis of variance to handlecases in which there are some uncontrolled variables that could not bestandardized between classes. These cases can be analyzed by using dummyvariables to capture the classifications and regressing the dependentvariable on these dummies and the uncontrollable variables. The analysisof covariance F tests are equivalent to testing whether the coefficient ofthe dummies are significantly different from one another. These tests canbe interpreted in terms of changes in the residual sums of squares causedby adding the dummy variables. Johnston (1972, pp 192-207) has a gooddiscussion."Kennedy also says: "In light of the above, it can be concluded that anyonecomfortable with regression analysis and dummy variables can eschewanalysis of variance and covariance techniques." [But one needs to understandthe academic work out there, not just write one's own. -ed.]Source: Stata manuals; Kennedy, 1992Contexts: statistics; sociologyAPT:Arbitrage Pricing Theory; from Stephen Ross, 1976-78. Quoting Sargent,"Ross posited a particular statistical process for asset returns, thenderived the restrictions on the process that are implied by the hypothesisthat there exist no arbitrage possibilities."The APT includes multiple risk factors, unlike the CAPM.Source: Sargent, 1987, p 112; Ross,1976Contexts: finance; modelsAR:Stands for "autoregressive." Describes a stochastic process(denote here, et) that can be described by a weighted sum of itsprevious values and a white noiseerror. An AR(1) process is afirst-order one, meaning that only the immediately previous value has a directeffect on the current value:et = ret-1 +utwhere r is a constant that has absolute value lessthan one, and ut is drawn from a distribution with mean zero andfinite variance, often a normal distribution.An AR(2) would have the form:et = r1et-1 +r2et-2 + utand so on. In theory a process might be represented by anAR(infinity).Contexts: time series; econometrics; statisticsAR(1):A first-order autoregressive process. See ARfordetails.Contexts: statisticsARCH:Stands for Autoregressive Conditional Heteroskedasticity. It's a techniqueused in finance to model asset price volatility over time.It is observed in much time series data on asset prices that there areperiods when variance is high and periods where variance is low. The ARCHeconometric model for this (introduced by Engle (1982)) is that the varianceof the series itself is an AR (autoregressive) time series, often a linearone.Formally, per Bollerslev et al 1992 and Engle (1982):An ARCH model is a discrete time stochastic process {et} of theform:et = ztstwhere the zt's are iid over time, E(zt)=0,var(zt)=1, and st is positive and time-varying. Usuallyst is further modeled to be an autoregressive process.According to Andersen and Bollerslev 1995/6/7, "ARCH models are usuallyestimated by maximum likelihood techniques." They almost always give aleptokurticdistrbution of asset returns even if one assumes that eachperiod's returns are normal, because the variance is not the same each period.Even ARCH models, however, do not usually generate enough kurtosis in equityreturns to match U.S. stock data.Source: Engle, 1982Contexts: finance; statistics; time seriesARIMA:Describes a stochastic process or a model of one. Stands for"autoregressive integrated moving-average". An ARIMA process ismade up of sums of autoregressiveand moving-averagecomponents, and may not be stationary.Source: Enders, 1996, p 23Contexts: time series; econometricsARMA:Describes a stochastic process or a model of one. Stands for"autoregressive moving-average". An ARMA process is astationaryone made up of sums of autoregressiveandmoving-averagecomponents.Source: Enders, 1996, p 23Contexts: time series; econometricsArrovian uncertainty:Measurable risk, that is, measurable variation in possible outcomes, onthe basis of knowledge or believed assumptions in advance. ContrastKnightian uncertainty.Source: Used in Rosenberg (1996) in Mosaic of Economic Growth.Arrow-Debreu equilibrium:Means, in practice, competitive equilibrium of the kind shown in Debreu'sTheory of Value.The Arrow-Debreu reference may be to a particular paper: "Existence of anEquilibrium for a Competitive Economy", Econometrica. Vol 22 July1954, pp 265-290. I haven't checked that out.Source: Debreu; Arrow and Debreu, 1954Arrow-Pratt measure:An attribute of a utility function.Denote a utility function by u(c). The Arrow-Pratt measure of absolute riskaversion is defined by:RA=-u''(c)/u'(c)This is a measure of the curvature of the utility function. This measure isinvariant to affine transformation of the utility function, which is a usefulattributed because such transformation do not affect the preferences expressedby u().If RA() is decreasing in c, then u() displays decreasingabsolute risk aversion. If RA() is increasing in c, then u()displays increasing absolute risk aversion. If RA() isconstant with respect to changes in c, then u() displays constant absoluterisk aversion.Source: Huang and Litzenberger, 1988, p 21; for Arrow (1970)and Pratt (1964).Contexts: finance; micro theoryASQ:An abbreviation for the journal Administrative Science Quarterly whichtends to be closer to sociology than to economics.Contexts: journalsASR:An abbreviation for the journal American Sociological Review.Contexts: journalsasset pricing models:A way of mapping from abstract states of the world into the prices offinancial assets like stocks and bonds. The prices are always conceived of asendogenous; that is, the states of the world cause them, not the other wayaround, in an asset pricing model.Several general types are discussed in the research literature. TheCAPMis one, distinguished from three that Fama (1991) identifies: (a)the Sharpe-Lintner-Black class of models, (b) the multifactor models like theAPTof Ross (1976), and (c) the consumption based models such as Lucas(1978).An asset pricing model might or might not include the possibility offadsor bubbles.Source: Fama, 1991, p 1590-1599Contexts: financeasset-pricing function:maps the state of the economy at time t into the price of a capital asset attime t.Source: Sargent, 1987, Ch 3Contexts: macro; finance; modelsasymptotic:An adjective meaning 'of a probability distribution as some variable orparameter of it (usually, the size of the sample from another distribution)goes to infinity.'In particular, see asymptotic distribution.Contexts: econometricsasymptotic normality:A limiting distribution of an estimator is usually normal. (details!)This is usually proven with a mean value expansion of the score at theestimated parameter value? (details)asymptotic variance:Definition of the asymptotic variance of an estimator may vary from author toauthor or situation to situation. One standard definition is given in Greene,p 109, equation (4-39) and is described there as "sufficient for nearlyall applications." It'sasy var(t_hat) = (1/n) * limn-<infinity E[ {t_hat -limn-<infinity E[t_hat] }2 ]Source: Greene, 1993, p 109Contexts: econometricsasymptotically equivalent:Estimators are asymptotically equivalent if they have the same asymptoticdistribution.Contexts: econometricsasymptotically unbiased:"There are at least three possible definitions of asymptoticunbiasedness:1. The mean of the limiting distribution of n.5(t_hat - t) iszero.2. limn-<infinity E[t_hat] = t.3. plim t_hat = t."Usually an estimator will have all three of these or none of them. Casesexist however in which left hand sides of those three are different."There is no general agreement among authors as to the precise meaning ofasymptotic unbiasedness, perhaps because the term is misleading at the outset;asymptotic refers to an approximation, while unbiasedness is anexact result. Nonetheless the majority view seems to be that (2) is theproper definition of asymptotic unbiasedness. Note, though, that thisdefinition relies upon quantities that are generally unknown and that may notexist." -- Greene, p 107Source: Greene, 1993, p 107Contexts: econometricsattractor:a kind of steady state in a dynamical system. There are three types ofattractor: stable steady states, cyclical attractors, andchaotic attractors.Source: J. Montgomery, social networks paperContexts: macro; modelsaugmented Dickey-Fuller test:A test for a unit rootin a time series sample. An augmentedDickey-Fuller test is a version of the Dickey-Fuller testfor a largerand more complicated set of time series models.(Ed.: what follows is only my best understanding.) The augmentedDickey-Fuller (ADF) statistic, used in the test, is a negative number. Themore negative it is, the stronger the rejection of the hypothesis that thereis a unit rootat some level of confidence. In one example, with threelags, a value of -3.17 constituted rejection at the p-valueof.10.Source: Greene, 1997With thanks to: Don Watson (as of 1999/03/31: drw@matilda.vm.edu.au)Contexts: econometrics; time seriesAustrian economics:A school of thought which "takes as its central concern the problem ofhuman coordination, through which order emerges not from a dictator, but fromthe decisions and judgments of numerous individuals in a world of highlydisperced and sometimes only tacit knowledge." -- Cass R. Sunstein,"The Road from Serfdom" The New Republic Oct 20, 1997, p42.Well-known authors along this line include Carl Menger, Ludwig von Mises, andFriedrich von Hayek. SeeDeborah L. Walker's essayfor a clear account.Source:Walker's essay athttp://econlib.org/library/Enc/AustrianEconomics.htmlContexts: politicalautarky:The state of an individual who does not trade with anyone.Contexts: modellingautocorrelation:the jth autocorrelation of a covariance-stationary process is defined as itsjth autocovariancedivided by its variance.In a sample, the kth autocorrelation is the OLS estimate that results from theregression of the data on the kth lags of the data.Below is Gauss code to calculate autocorrelations from a sample./* This functions calculates autocorrelation estimates for lag k */proc autocor(series, k);local rowz,y,x,rho;rowz = rows(series);y = series[k+1:rowz];x = series[1:rowz-k];rho = inv(x'x)*x'y; /* compute autocorrelation by OLS */retp(rho);endp;Contexts: econometrics; time seriesautocovariance:The jth autocovariance of a stochastic processyt is thecovariancebetween its time t value and the value at time t-j. It isdenoted g below, and E[] means expectation,or mean:gjt = E[(yt -Ey)(yt-j-Ey)]In that equation the process is assumed to be covariance stationary.If there is a trend, then the second Ey should be E(yt-j).Contexts: econometrics; time seriesautocovariance matrix:Defined for a vector random process, denoted yt here. Theij'th element of the autocovariance matrix is cov(yit,yj,t-k).Contexts: econometrics; time seriesautoregressive process:See AR.Contexts: econometrics; statistics; time seriesavar:abbreviation or symbol for the operation of taking the asymptoticvarianceof an expression, thus: avar().Contexts: econometricsaverage treatment effect:In a treatment model where some observations receive the treatment (forexample, a training program) and some do not, the average treatment effect isthe difference between the conditional expectation of the dependent variablewith the treatment effect and the conditional expectation of the dependentvariable without the treatment effect. This is the average benefit from thetreatment.Often this term is abbreviated ATE.Source: source: John Pencavel, lecture notes for Econ 247, StanfordUniversity, circa 2000-2005.Contexts: estimation; laborb:b(n,q) is notation for a binomialdistributionwith parameters n and q, where nis the number of draws and q is the probabilitythat each is a one; the value of X~b(n,q) is acount of the number of ones drawn.Contexts: statisticsB1:B1 denotes the Borel sigma-algebraof the real line. Itwill contain every open interval by definition, which implies that it containsevery closed interval and every countable union of open, half-open, and closedintervals.What won't it contain? In practice, only obscure sets. Here's an example:Define the equivalence class ~ on the real line such that x~y (read: x is inthe same equivalence class as y) if x-y is a rational number. Now considerthe set of all numbers in [0,1] such that none of them are in the sameequivalence class. How many members of that set are there? Well, it's not acountable number. This set is not in B1.Contexts: math; measure theory; real analysisbalance of payments:A country's balance of payments is the quantity of its own currency flowingout of of the country (for purchases, for example, but also for gifts andintrafirm transfers) minus the amount flowing in.[Ed: this next part is partly speculation; feel free to correct it.] For somepurposes this term refers to a stock value and for others a flow value. It iswell defined over a period in the sense that it has changed from time A totime B.Source: AmosWorld EconomicGlossaryContexts: trade; international; macrobalanced growth:A macro model exhibits balanced growth if consumption, investment, and capitalgrow at at a constant rate while hours of work per time period staysconstant.Source: Cooley, 1995, p 16Contexts: macro; modellingBanach space:Any complete normed vector space is a Banach space.Contexts: real analysisbandwidth:In kernel estimation, a scalar argument to the kernel function that determineswhat range of the nearby data points will be heavily weightedin making an estimate. The choice of bandwidth represents a tradeoff betweenbias (which is intrinsic to a kernel estimator, and which increases withbandwidth), and variance of the estimates from the data (which decreases withbandwidth).Cross-validationis one way to choose the bandwidth as a function ofthe data.Has a variety of similar definitions in spectral analysis. Generally, abandwidth is some way of defining the range of frequencies that will beincluded by the estimation process. In some estimations it is an argument tothe estimation process.Source: Hardle, 1990, especially p 148Contexts: econometrics; statisticsbank note:In periods of free banking, such as most states in the U.S. from1839-1863, banks could issue their own money, called bank notes. A bank notewas a risky, perpetual debt claim on a bank which paid no interest, and couldbe redeemed on demand at the original bank, usually in gold. There was a riskthat the bank would not be able or willing to redeem it.Contexts: money; historybarter economy:An economy that does not have a medium of exchange, or money, and wheretrade occurs instead by exchanging useful goods for useful goods.Source: McCallum, 1983Contexts: money; modelsbase point pricing:The practice of firms setting prices as if their transportation costs to alllocations were the same, even if all the vendors are distant from one anotherand have substantially different costs of transportation to each location.One might interpret this as a form of monitored collusion between the vendorfirms.Contexts: IObasin of attraction:the region of states, in a dynamical system, around a particular stable steadystate, that lead to trajectories going to the stable steady state. (E.g. theregion inside the event horizon around a black hole.)Source: James Montgomery, social networks paperContexts: macro; modelsbasis point:One-hundredth of a percentage point. Used in the context of interestrates.Contexts: finance; businessbasket:A known set of fixed quantites of known goods, needed for defining a priceindex.Contexts: macro; price indexesBayesian analysis:"In Bayesian analysis all quantities, including the parameters, arerandom variables. Thus, a model is said to be identified in probability ifthe posterior distribution for [the parameter to be estimated] isproper."Source: Hsiao, The New Palgrave: Econometrics, p 98Contexts: econometrics; statisticsBellman equation:Any value or flow value equation. For a discrete problem it can generally beof the form:v(k) = max over k' of { u(k,k') + b*v(k') }where:u() is the one-period return function (e.g., a utility function) andv() is the value function andk is the current state andk' is the state to be chosen andb is a scalar real parameter, the discount rate,generally slightly less than one.Contexts: dynamic optimization; macro; modelsBertrand competition:A bidding war in which the bidders end up at a zero-profit price. SeeBertrand game.Contexts: game theory; IOBertrand duopoly:The two firms producing in a market modeled as a Bertrand game.Contexts: IOBertrand game:Model of a bidding war between firms each of which can offer to sell a certaingood (say, widgets), but no other firms can. Each firm may choose a price tosell widgets at, and must then supply as many as are demanded. Consumers areassumed to buy the cheaper one, or to purchase half from each if the pricesare the same.Best for the firms (both collectively and individually) is to cooperate,charge monopoly price, and split the profits. Each firm could seize the wholemarket by lowering price slightly, however, and the noncooperative Nashequilibriumoutcome of a Bertrand game is that both charge a zero-profitprice.Contexts: game theory; IOBeveridge curve:The graph of the inverse relation of unemployment to job vacancies.Contexts: labor; macroBHHH:A numerical optimization method from Berndt, Hall, Hall, and Hausman (1974).Used in Gauss, for example.The following discussion of BHHH was posted to the newsgroup sci.econ.researchby Paul L. Schumann, Ph.D., Professor of Management atMinnesota State University, Mankato (formerly Mankato State University).It is included here without any explicit permission whatsoever.BHHH usually refers to the procedure explained in Berndt, E., Hall, B.,Hall, R., & Hausman, J. (1974), "Estimation and Inference in NonlinearStructural Models," Annals of Economic and Social Measurement, 3/4: 653-665.BHHH provides a method of estimating the asymptotic covariance matrix of aMaximum Likelihood Estimator. In particular, the covariance matrix for a MLEdepends on the second derivatives of the log-likelihood function. However,the second derivatives tend to be complicated nonlinear functions. BHHHestimates the asymptotic covariance matrix using first derivatives insteadof analytic second derivatives. Thus, BHHH is usually easier to compute thanother methods.In addition to the original BHHH article referenced above, BHHH is alsodiscussed in Greene, W.H., Econometric Analysis, 3rd Edition, Prentice-Hall,1997. Greene's econometric software program, LIMDEP, uses BHHH for some ofthe estimation routines.Someone (perhaps BHHH themselves?) wrote a Fortran subroutine in the 1970'sto do BHHH. I do not have a copy of this subroutine at the present time. Youmay want to check out Green's econometric software, LIMDEP, to see if itwill do what you require, rather than writing your own program to use anexisting BHHH subroutine. The Web address for LIMDEP is:http://www.limdep.com/index.htmCheers,Paul.--Paul L. Schumann, Ph.D., Professor of ManagementMinnesota State University, Mankato (formerly Mankato State University)Mankato, MN 56002mailto:paul.schumann@mankato.msus.eduhttp://krypton.mankato.msus.edu/~schumann/www/welcome.htmlSource: Gauss Applications: Maximum Likelihood;Berndt, Hall, Hall, and Hausman (1974)With thanks to: Paul L. Schumann, Ph.D., Professor of ManagementMinnesota State University, Mankato (formerly Mankato State University)Mankato, MN 56002mailto:paul.schumann@mankato.msus.eduhttp://krypton.mankato.msus.edu/~schumann/www/welcome.htmlContexts: numerical methods; estimationBHPS:British Household Panel Survey.A British government database going back to 1990.Web page:http://www.iser.essex.ac.uk/bhps/index.phpContexts: data; laborbias:the difference between the parameter and the expected value of the estimatorof the parameter.Contexts: econometrics; estimationbidding function:In an auction analysis, a bidding function (often denoted b()) is a functionwhose value is the bid that a particular player should make. Often it is afunction of the player's value, v, of the good being auctioned. Thus thecommon notation b(v).Contexts: micro theory; IObill of exchange:From the late Middle Ages. A contract entitling an exporter to receiveimmediate payment in the local currency for goods that would be shippedelsewhere. Time would elapse between payment in one currency and repayment inanother, so the interest rate would also be brought into thetransaction.Source: Glasner, p. 23Contexts: history; moneybillon:A mixture of silver and copper, from which small coins were made in medievalEurope. Larger coins were made of silver or gold.Source: Thomas J Sargent and Francois R Velde, 1997, "The Evolution of SmallChange", unpublished paper, p. 6bimetallism:A commodity money regime in which there is concurrent circulation of coinsmade from each of two metals and a fixed exchange rate between them.Historically the metals have almost always been gold and silver. Bimetallismwas tried many times with varying success but since about 1873 the practicehas been generally abandoned.Source: Velde, Francois R., and Warren E. Weber. 1998. "A Model ofBimetallism." Working paper, Federal Reserve Bank of Chicago, FederalReserve Bank of Minneapolis, and University of Minnesota. page 2.Contexts: moneyBJE:Bell Journal of Economics, the previous name of the RAND Journal ofEconomics or RJE.Contexts: journalsBlack-Scholes equation:An equation for optionsecurities prices on the basis of an assumedstochastic processfor stock prices.The Black-Scholes algorithm can produce an estimate the value of a call on astock, using as input:-- an estimate of the risk-free interest rate now and in the near future-- current price of the stock-- exercise price of the option (strike price)-- expiration date of the option-- an estimate of the volatility of the stock's priceClick here for a derivation of Black-Scholesequation.From the Black-Scholes equation one can derive the price of an option.Click here fora simplified derivation which assumes risk-neutrality.Contexts: finance; businessBLS:Abbrevation for the U.S. government's Bureau ofLabor Statistics, in the Labor Department.Contexts: dataBonferroni criterion:Suppose a certain treatment of a patient has no effect. If one runs a test ofstatistical significance on enough randomly selected subsets of the patientbase, one would find some subsets in which statistically significantdifferences were apparently distinguished by the treatment.The Bonferroni criterion is a redefinition of the statistical signficancecriterion for the testing of many subgroups: e.g. if there are five subgroupsand one of them shows an effect of the treatment at the .01 significancelevel, the overall finding is significant at the .05 level.This is discussed in more detail (and probably more correctly) in Bland andAltman (1995) in the statistics notes of the British Medical Journal. Eitherof these links should go there:Llink 1.Link 2; search for Bonferroni.Source: British Medical Journal, statistics notes by Bland and Altman.Contexts: statistics; epidemiologybootstrapping:The activity of applying estimators to each of many subsamples of a datasample, in the hope that the distribution of the estimator applied to thesesubsamples is similar to the distribution of the estimator when applied to thedistribution that generated the sample.It is a method that gives a sense of the sampling variability of an estimator."After the set of coefficients b0 is computed, M randomly drawn samplesof T observations are drawn from the original data set withreplacement. T may be less than or equal to n, the sample size. Witheach such sample the ... estimator is recomputed." -- Greene, p658-9.The properties of this distribution of estimates of b0 can then becharacterized, e.g. its variance. If the estimates are highly variable, theinvestigator knows not to think of the estimate of b0 as precise.Bootstrapping could also be used to estimate by simulation, or empirically,the variance of an estimation procedure for which no algebraic expression forthe variance exists.Source: Greene, 1993, p 658-9Contexts: econometrics; estimation; statisticsBorel set:Any element of a Borel sigma-algebra.Contexts: math; measure theory; real analysisBorel sigma-algebra:The Borel sigma-algebra of a set S is the smallest sigma-algebraof Sthat contains all of the open balls in S. Any element of a Borelsigma-algebra is a Borel set.Example: The set B1 is the Borel sigma-algebra of the real line,and thus contains every open interval.Example: Consider a filled circle in the unit square. It can be constructedby a countable number of non-overlapping open rectangles (since a series ofsuch rectangles can be defined that would cover every point in the circle butno point outside of it. Therefore it is in the smallest sigma-algebra of opensubsets of the unit square.Contexts: math; measure theory; real analysisbounded rationality:Models of bounded rationality are defined in a recent book by Ariel Rubinsteinas those in which some aspect of the process of choice is explicitlymodeled.Source: Rubinstein, Ariel. 1998. Modeling Bounded Rationality.Contexts: game theory; micro theoryBox-Cox transformation:The Box-Cox transformation, below, can be applied to a regressor, acombination of regressors, and/or to the dependent variable in a regression.The objective of doing so is usually to make the residuals of the regressionmore homoskedasticand closer to a normal distribution:{y(l) = ((y^l) - 1) / lfor l not equal to zeroy(l)=log(y)l=0Box and Cox (1964) developed the transformation.Estimation of any Box-Cox parameters is by maximum likelihood.Box and Cox (1964) offered an example in which the data had the form ofsurvival times but the underlying biological structure was of hazard rates,and the transformation identified this.Source: Box and Cox, 1964; Stata 7 manual entry forboxcox;Davidson and Mackinnon, 1993, pp 481-488.Contexts: econometrics; statisticsBox-Jenkins:A "methodology for identifying, estimating, and forecasting"ARMAmodels. (Enders, 1996, p 23). The referencein the name is to Box and Jenkins, 1976.Source: Enders, 1996, p 23Contexts: time series; econometricsBox-Pierce statistic:Defined on a time series sample for each natural number k by the sum of thesquares of the first k sample autocorrelations. The kth sampleautocorrelation is denoted r:BP(k)=Ss=1k[rs2]Used to tell if a time series is nonstationary.Below is Gauss code with a procedure that calculates the Box-Pierce statisticfor a set of residuals./* A series of residuals eps_hat[] is generated from a regression, e.g.: */eps_hat = y - X*betaols;/* Then the Box-Pierce statistic for each k can be calculated this way: */print "Box-Pierce statistic for k=1 is" BP(eps_hat,1);print "Box-Pierce statistic for k=2 is" BP(eps_hat,2);print "Box-Pierce statistic for k=3 is" BP(eps_hat,3);proc BP(series, k);local beep, rho;beep = 0;do until kContexts: finance, time seriesBPEA:An abbreviation for the Brookings Papers on Economic Activity.Brent method:An algorithm for choosing the step lengths when numerically calculatingmaximum likelihood estimates.Source: Gauss Applications: Maximum Likelihood;Brent, 1972Contexts: numerical methods; estimationBretton Woods system:The international monetary framework of fixed exchange rates after World WarII. Drawn up by the U.S. and Britain in 1944. Keynes was one of thearchitects. The meetings occurred at Bretton Wood, New Hampshire, in theU.S., in July 1944. The International Bank for Reconstruction andDevelopment, now called the World Bank, was planned at the meetings.So was the International Monetary Fund or IMF.The system ended on August 15, 1971, when President Richard Nixon endedtrading of gold at the fixed price of $35/ounce. At that point for the firsttime in history, formal links between the major world currencies and realcommodities were severed.Source: Glasner, p 157-160;The International Forum on Globalization. Alternatives to EconomicGlobalization. 2002. p.18Contexts: money; historyBreusch-Pagan statistic:A diagnostic test of a regression. It is a statistic for testing whetherdependent variable y is heteroskedasticas a function of regressors X.If it is, that suggests use of GLSor SURestimation in place ofOLS. The test statistic is always nonnegative. Large values of teststatistic reject the hypothesis that y is homoskedasticin X. Themeaning of 'large' varies with the number of variables in X.Quoting almost directly from the Statamanual: The Breusch and Pagan(1980) chi-squared statistic -- a Lagrange multiplier statistic -- is givenbyl =T * [Sm=1m=M[Sn=1n=m-1[rmn2 ]]where rmn2 is the estimated correlation between theresiduals of the M equations and T is the number of observations. It has achi-squared distribution with M(M-1)/2 degrees of freedom.Source: Breusch, T. and A. Pagan. 1980. "The LM test and itsapplications to model specification in econometrics." Review ofEconomic Studies. 47: 239-254.StataCorp. 1999. Stata statistical software release 6.0 manual, vol4., page 14.Contexts: estimation; econometricsbubble:A substantial movement in market price away from a price determined byfundamental value. In practice, "bubble" always refers to asituation where the market price is higher than the conjectured fundamentallysupported price. The idea of a fundamental value requires some model oroutside knowledge of what the security (or other good) is worth.Bubbles are often described as speculative and it is conjectured that bubblescould be risky ventures for speculators who earn a fair rate of return onthem. [ed: I believe these are "rational" bubbles.]There exist statistical models of a bubbles. For example, stochasticcollapsing bubbles are cited to Blanchard and Watson (1982) -- in this form,"the bubble continues with a certain conditional probability andcollapses otherwise."Source: Bollerslev and Hodrick (1992), p 15;For more discussion of the definition and a history of examples, see:Garber, Peter M. 2000. Famous First Bubbles. MIT Press.especially its introduction. And academic articles by Garber too.Contexts: financebudget:A budget is a description of a financial plan. It is a list of estimates ofrevenues to and expenditures by an agent for a stated period of time.Normally a budget describes a period in the future not the past.budget line:A consumer's budget line characterizes on a graph the maximum amounts of goodsthat the consumer can afford. In a two good case, we can think of quantitiesof good X on the horizontal axis and quantities of good Y on the verticalaxis. The term is often used when there are many goods, and without referenceto any actual graph.Contexts: micro theory; phrasesbudget set:The set of bundles of goods an agent can afford. This set is a function ofthe prices of goods and the agents endownment.Assuming the agent cannot have a negative quantity of any good, the budget setcan be characterized this way. Let e be a vector representing thequantities of the agent's endowment of each possible good, and p be avector of prices for those goods. Let B(p,e) be the budget set.Let x be an element of R+L; thatis, the space of nonnegative reals of dimension L, the number of possiblegoods. Then:B(p,e) = {x: px >= pe}Contexts: general equilibrium; modelsbureaucracy:A form of organization in which officeholders have defined positions and(usually) titles. Formal rules specify the duties of the officeholders.Personalistic distinctions are usually discouraged by the rules.Burr distribution:Has density function(pdf):f(x) = ckxc-1(1+xc)k+1 for constantsc<0, k<0, and for x<0.Has distribution function (cdf):F(x) = 1 - (1+xc)-k.Source: Maddala, 1983/96, p 10-11; Burr,1942Contexts: econometricsbusiness:Relevant terms: basis point,Black-Scholes equation,call option,conglomerate,coupon strip,EBITDA,ex dividend date,NASDAQ,NYSE,option,principal strip,pro forma,put option,reinsurance.Contexts: fieldsbusiness cycle frequency:Three to five years. Called the business cycle frequency by Burns andMitchell (1946), and this became standard language.Source: Cooley, 1995, p 28Contexts: macroBVAR:Bayesian VAR(Vector Autoregression)Contexts: time series; econometrics; estimationCAGR:Cumulative Average Growth Ratecalculus of voting:A model of political voting behavior in which a citizen chooses to vote if thecosts of doing so are outweighed by the strength of the citizen's preferencefor one candidate weighted by the anticipated probability that the citizen'svote will be decisive in the election.Source: Downs, 1957; Riker and Ordeshook,1968Contexts: political sciencecalibration:NOT SURE WHICH OF THESE (IF EITHER) IS RIGHT:1. The estimationof some parameters of a model, under the assumptionthat the model is correct, as a middle step in the study of other parameters.Use of this word suggests that the investigator wishes to give those otherparameters of the model a 'fair chance' to describe the data, not to get stuckin a side discussion about whether the calibrated parameters are ideallymodeled or estimated.2. Taking parameters that have been estimated for a similar model into one'sown model, solving one's own model numerically, and simulating. Attributed toEdward Prescott.Contexts: econometrics; estimationcall option:A call option conveys the right to buy a specified quantity of an underlyingsecurity.Contexts: finance; businesscapital:Something owned which provides ongoing services. In the nationalaccounts, or to firms, capital is made up of durable investment goods,normally summed in units of money. Broadly: land plus physical structuresplus equipment. The idea is used in models and in the nationalaccounts.See also human capitaland social capital.Contexts: macro; IOcapital consumption:In national accounts, this is the amount by which gross investment exceeds netinvestment. It is the same as replacement investment.-- Oulton (2002, p. 13)Source: Oulton, Nicholas. 2002. "Productivity versus welfare: or GDP versusWeitzman's NDP." Bank of England. On the web.Contexts: macro; measurement; governmentcapital deepening:Increase in capital intensity, normally in a macro context where it ismeasured by something analogous to the capital stock available per labor hourspent. In a micro context, it could mean the amount of capital available fora worker to use, but this use is rare.Capital deepening is a macroeconomic concept, of a faster-growingmagnitude of capital in production than in labor. Industrializationinvolved capital deepening - that is, more and more expensive equipmentwith a lesser corresponding rise in wage expenses.Capital deepening has been measured by a rising ratio of some kind of capitalin production, or services provided by capital to production, to total output.Capital may include land, structures, equipment, or the relevant capital maybe a more narrowly defined input (e.g. a computer equipment).Source: Oulton, Nicholas. 2002. "Productivity versus welfare: or GDP versusWeitzman's NDP." Bank of England. page 31. On the Web.Margo, Atack, and others on US national growth 1850-1880. ~2003 NBERpaper.Contexts: macrocapital intensity:Amount of capitalper unit of labor input.capital ratio:A measure of a bank's capital strength used by U.S. regulatoryagencies.Contexts: money; bankingcapital structure:The capital structure of a firm is broadly made up of its amounts ofequityand debt.Contexts: financecapital-augmenting:One of the ways in which an effectiveness variable could be included in aproduction function in a Solow model. If effectiveness A is multipliedby capital K but not by labor L, then we say the effectiveness variable iscapital-augmenting.For example, in the model of output Y where Y=(AK)aL1-athe effectiveness variable A is capital-augmenting but in the modelY=AKaL1-a it is not.Another example would be a capital utilization variable as measured say byelectricity usage. (E.g., as in Eichenbaum).-----------------An example: in the context of a railroad, automatic railroad signaling,track-switching, and car-coupling devices are capital-augmenting.From Moses Abramovitz and Paul A. David, 1996. "Convergence and DeferredCatch-up: productivity leadership and the waning of American exceptionalism."In Mosaic of Economic Growth, edited by Ralph Landau, Timothy Taylor,and Gavin Wright.Source: Romer, 1996, p 7Contexts: macrocapitation:The system of payment for each customer served, rather than by serviceperformed. Both are used in various ways in U.S. medical care.Source: Weisbrod's class circa 5/21/97Contexts: publicCAPM:Capital Asset Pricing ModelContexts: finance; modelsCAR:stands for Cumulative Average Return.A portfolio's abnormal return(AR) at each time is ARt=Sumfrom i=1 to N of each arit/N. Here arit is the abnormalreturn at time t of security i.Over a window from t=1 to T, the CAR is the sum of all the ARs.Contexts: financeCARA utility:A class of utility functions. Also called exponential utility. Has the form,for some positive constant a:u(c)=-(1/a)e-ac"Under this specification the elasticity of marginal utility is equal to-ac, and the instantaneous elasticity of substitution is equal to1/ac."The coefficient of absolute risk aversion is a; thus the abbreviation CARA forConstant Absolute Risk Aversion. "Constant absolute risk aversion isusually thought of as a less plausible description of risk aversion thanconstant relative risk aversion" (that's the CRRA, which see), butit can be more analytically convenient.Source: Blanchard and Fischer, p. 44Contexts: modelsCARs:cumulative average adjusted returnsContexts: financecash-in-advance constraint:A modeling idea. In a basic Arrow-Debreu general equilibrium there is no needfor money because exchanges are automatic, through a Walrasianauctioneer. To study monetary phenomena, a class of models was made inwhich money was required to make purchases of other goods. In such a modelthe budget constraint is written so that the agent must have enough cash onhand to make any consumption purchase. Using this mechanism money can have apositive price in equilibrium and monetary effects can be seen in such models.Contrast money-in-the-utility functionfor an alternative modelingapproach.Source: Ostroy and Starr, 1990, pp 6-7Contexts: money; modelscatch-up:"'Catch-up' refers to the long-run process by which productivity laggardsclose the proportional gaps that separate them from the productivity leader.... 'Convergence,' in our usage, refers to a reduction of a measure ofdispersion in the relative productivity levels of the array of countries underexamination." Like Barro and Sala-i-Martin (92)'s "sigma-convergence", anarrowing of the dispersion of country productivity levels over time.Source: From Moses Abramovitz and Paul A. David, 1996. "Convergence andDeferred Catch-up: productivity leadership and the waning of Americanexceptionalism." In Mosaic of Economic Growth, edited by Ralph Landau,Timothy Taylor, and Gavin Wright.Contexts: international; macroCauchy distribution:Has thicker tails than a normal distribution.density function(pdf): f(x) = 1/[pi*(1+x2)].distribution function(cdf): F(x) = .5 + (tan-1x)/pi.Source: Maddala, p. 9Contexts: econometrics; statisticsCauchy sequence:A sequence satisfies the Cauchy criterion iff for each positive real epsilonthere exists a natural number N such that the distance between any twoelements of the sequence past the Nth element is less than epsilon.'Distance' must be defined in context by the user of the term.One sometimes hears the construction: 'The sequence is Cauchy' if the sequencesatisfies the definition.Source: Stokey and Lucas, 1989Contexts: real analysisCCAPM:Stands for Consumption-based Capital Asset Pricing Model.A theory of asset prices. Formulated in Lucas, 1978, and Breeden,1979.Source: Lucas, 1978; Breeden, 1979Contexts: finance; macroCDE:Stands for Corporate Data Exchange, an organization which has data on theshareholdings of large U.S. companies.Source: Weisbach, 1988, p 448Contexts: financecdf:cumulative distribution function. This function describes a statisticaldistribution. It has the value, at each possible outcome, of the probabilityof receiving that outcome or a lower one. A cdf is usually denoted in capitalletters.Consider for example some F(x), with x a real number is the probability ofreceiving a draw less than or equal to x. A particular form of F(x) willdescribe the normal distribution, or any other unidimensionaldistribution.Contexts: econometrics; statisticsCDFC:Stands for Concavity of distribution function condition.Contexts: micro theorycensored dependent variable:A dependent variable in a model is censored if observations of it cannot beseen when it takes on vales in some range. That is, the independentvariables are observed for such observations but the dependent variable isnot.A natural example is that if we have data on consumers and prices paid forcars, if a consumer's willingness-to-pay for a car is negative, we will seeobservations with consumer information but no car price, no matter how low carprices go in the data. Price observations are then censored at zero.Contrast truncated dependent variables.Contexts: econometrics; estimationcentral bank:A government bank; a bank for banks.Source: Mark Witte, (mwitte@nwu.edu).Contexts: money; macrocertainty equivalence principle:Imagine that a stochastic objective function is a function only of output andoutput-squared. Then the solution to the optimization problem of choosingoutput will have the special characteristic that only the conditional means ofthe future forcing variablesappear in the first orderconditions. (By conditional means is meant the set of means for eachstate of the world.) Then the solution has the "certaintyequivalence" property. "That is, the problem can be separated intotwo stages: first, get minimum mean squared error forecasts of the exogenous[variables], which are the conditional expectations...; second, at time t,solve the nonstochastic optimization problem," using the mean in place ofthe random variable. "This separation of forecasting fromoptimization.... is computationally very convenient and explains why quadraticobjective functions are assumed in much applied work. For general [functions]the certainty equivalence principle does not hold, so that the forecasting andopt problems do not 'separate.'"Source: Sargent, 1979, Ch 14, p 396Contexts: macro; finance; modelscertainty equivalent:The amount of payoff (e.g. money or utility) that an agent would have toreceive to be indifferent between that payoff and a given gamble is calledthat gamble's 'certainty equivalent'. For a risk averse agent (as most areassumed to be) the certainty equivalent is less than the expected value of thegamble because the agent prefers to reduce uncertainty.Contexts: micro theory; financeCES production function:CES stands for constant elasticity of substitution. This is a functiondescribing production, usually at a macroeconomic level, with two inputs whichare usually capital and labor. As defined by Arrow, Chenery, Minhas, andSolow, 1961 (p. 230), it is written this way:V = (bK-r+ aL-r)-(1/r)where V = value-added, (though y for output is more common),K is a measure of capitalinput,L is a measure of laborinput,and the Greek letters are constants. Normally a<0 and b<0 and r<-1. For more details see the sourcearticle.In this function the elasticity of substitutionbetween capital andlabor is constant for any value of K and L. It is (1+r)-1.Source: Defined and discussed in Arrow, Chenery, Minhas, and Solow,1961.Contexts: macro; modelsCES technology:Example, adapted from Caselli and Ventura:For capital k, labor input n, and constant b>? (?less that what?)f(k,n) = (kb + nb)1/bHere the elasticity of substitution between capital and labor is less thanone, i.e. 1/(1-b)>1.Source: "A Representative Consumer Theory of Distribution" by FrancescoCaselli and Jaume Ventura, working paper dated April, 1996 presented at SummerMacro Conference at Northwestern University circa July 28, 1996Contexts: modelsCES utility:Stands for Constant Elasticity of Substitution, a kind of utility function. Asynonym for CRRA or isoelastic utility function. Often written this way,presuming a constant g not equal to one:u(c)=c1-g/(1-g)This limits to u(c)=ln(c) as g goes to one.The elasticity of substitution between consumption at any two points in timeis constant, equal to 1/g. "The elasticity of marginal utility is equalto" -g. g can also be said to be the coefficient of relative riskaversion, defined as -u"(c)c/u'(c), which is why this function is alsocalled the CRRA (constant relative risk aversion) utility function.Source: Blanchard and Fischer, p. 44Contexts: macro; finance; modelsceteris paribus:means "assuming all else is held constant". The author isattempting to distinguish an effect of one kind of change from anyothers.Contexts: phrasesCEX:Abbreviation for the U.S. government'sConsumer Expenditure SurveyContexts: dataCFTC:The U.S. government's Commodities and Futures Trading Commission.CGE:An occasional abbreviation for "computable general equilibrium"models.Contexts: modelschained:Describes an indexnumber that is frequently reweighted. An example isan inflation index made up of prices weighted by frequency with which they arepaid, and frequent recomputation of weights makes it a chained inded.Source: Hulten, 2000Contexts: index numberschaotic:A description of a dynamic system that is very sensitive to initial conditionsand may evolve in wildly different ways from slightly different initialconditions.Source: Devaney, 1992, p 1-2Contexts: mathematics; dynamic optimizationcharacteristic equation:polynomial whose roots are eigenvaluesContexts: linear algebracharacteristic function:Denoted here PSI(t) or PSIX(t). Is defined for any random variableX with a pdf f(x). PSI(t) is defined to be E[eitX], which is theintegral from minus infinity to infinity of eitXf(x).This is also the cgf, or cumulant generating function."Every distribution has a unique characteristic function; and to eachcharacteristic function there corresponds a unique distribution ofprobability." -- Hogg and Craig, p 64Source: Hogg and Craig, 1995, p 64Contexts: econometrics; statisticscharacteristic root:Synonym for eigenvalue.Contexts: linear algebrachartalism:or "state theory of money" -- 19th century monetary theory, basedmore on the idea that legal restrictions or customs can or should maintain thevalue of money, not intrinsic content of valuable metal.Source: Thomas J Sargent and Francois R Velde, 1997, "The Evolution of SmallChange", unpublished paper, p. 27chi-square distribution:A continuous distribution, with natural number parameter r. Is thedistribution of sums of squares of r standard normalvariables.Mean is r, variance is 2r, pdfand cdfis difficult to expressin html, and moment-generating function (mgf) is (1-2t)-r/2.From older definition in this same database:If n random values z1, z2, ..., zn are drawnfrom a standard normaldistribution, squared, and summed, the resultingstatistic is said to have a chi-squared distribution with n degrees offreedom:z12 + z22 + ... +zn2) ~ X2(n)This is a one-parameter family of distributions, and the parameter, n, isconventionally labeled the degrees of freedom of the distribution.-- quoted and paraphrased from JohnstonSee also noncentral chi-squared distributionSource: Hogg and Craig; Johnston (p. 530 in older edition?)Contexts: statisticsChicago School:Refers to an perspective on economics of the University of Chicago circa 1970.Variously interpreted to imply:1) A preference for models in which information is perfect, and an associatedsearch for empirical evidence that choices, not institutional limitations, arewhat result in outcomes for people. (E.g., that committing crime is a careerchoice; that smoking represents an informed tradeoff between health risk andimmediate gratification.)2) That antitrust law is rarely necessary, because potential competition willlimit monopolist abuses.Contexts: phraseschoke price:The lowest price at which the quantity demanded is zero.Cholesky decomposition:Given a symmetric positive definite square matrix X, the Choleskydecomposition of X is the factorization X=U'U, where U is the square rootmatrix of X, and satisfies:(1) U'U = X(2) U is upper triangular (that is, it has all zeros below the diagonal)Once U has been computed, one can calculate the inverse of X more easily,because X-1 = U-1(U')-1, and the inverses ofU and U' are easier to compute.Source: Greene, 1993, p 36; Gauss help system, underCHOL(), which finds U given XContexts: econometrics; linear algebraCholesky factorization:Same as Cholesky decomposition.Source: Greene, 1993, p 36Contexts: econometricsChow test:A particular test for structural change; an econometric test to determinewhether the coefficients in a regression model are the same in separatesubsamples. In reference to a paper of G.C. Chow (1960), "the standard Ftest for the equality of two sets of coefficients in linear regressionmodels" is called a Chow test. See derivation and explanation inDavidson and MacKinnon, p. 375-376. More info in Greene, 2nd edition, p211-2.Homoskedasticity of errors is assumed although this can be dubious since weare open to the possibility that the parameter vector (b) has changed.RSSR = the sum of squared residuals from a linear regression in which b1 and b2 are assumed to be the sameSSR1 = the sum of squared residuals from a linear regression ofsample 1SSR2 = the sum of squared residuals from a linear regression ofsample 2b has dimension k, and there are n observations intotalThen the F statistic is:((RSSR-SSR1-SSR2)/k ) /((SSR1+SSR2)/(n-2k).That test statistic is the Chow test.Source: Davidson and MacKinnon, 1993, p 375Contexts: econometrics; estimationcirculating capital:flows of value within a production organization. Includes stocks of rawmaterial, work in process, finished goods inventories, and cash on hand neededto pay workers and suppliers before products are sold.Source: unpublished dissertation, Thomas Geraghty, at Northwestern Univ,1998With thanks to: Thomas M. Geraghty, (t-geraghty@nwu.edu)Contexts: IOCJE:An abbreviation for the Canadian Journal of Economics.CLAD:Stands for the "Censored Least Absolute Deviations" estimator. Iferrors are symmetric (with median of zero), this estimator is unbiased andconsistent though not efficient. The errors need not be homoskedastic ornormally distributed to have those attributes.CLAD may have been defined for the first time in Powell,1984.Source: statalist [email discussion list for Stata] and other unpublishedsourcesContexts: econometricsclassical:According to Lucas (1998), a classical theory would have no explicit referenceto preferences. Contrast neoclassical.Source: Lucas (1998)Contexts: phrases; macro theoryClayton Act:A 1914 U.S. law on the subject of antitrust and price discrimination.Section two prohibits price discrimination.Section three prohibits sales based on an exclusive dealingcontractrequirement that may have the effect of lessening competition.Section seven prohibits mergers where "the effect of such acquisition maybe substantially to lessen competition, or tend to create a monopoly" inany line of commerce.Source: lectures and handouts of Michael Whinston at Northwestern U inEconomics D50, Winter 1998Contexts: IO; antitrust; regulationclears:A verb. A market clears if the vector of prices for goods is such that theexcess demand at those prices is zero. That is, the quantity demanded ofevery good at those prices is met.Contexts: general equilibrium; modellingclimacteric:Critical stage, period, or turning point, usually away from an upward,expansive, or optimistic path into a downward or quiescent direction. Hasbeen used in the context of declining British economic success after1890.Source: dictionaryContexts: economic history; phrasescliometrics:the study of economic history; the 'metrics' at the end was put to emphasize(possibly humorously) the frequent use of regression estimation."The cliometric contribution was the application of a systematic body oftheory -- neoclassical theory -- to history and the application ofsophisticated, quantitative techniques to the specification and testing ofhistorical models." -- North (1990/1993) p 131.Source: North, 1990Contexts: history; fieldsclustered data:Data whose observations are not iidbut rather come in clusters thatare correlated together -- e.g. a data set of individuals some of whom aresiblings of others, and are therefore similar demographically.Contexts: dataCoase theorem:Informally: that in presence of complete competitive markets and the absenceof transactions costs, an efficient set of inputs to production and outputsfrom production will be chosen by agents regardless of how property rightsover the inputs were assigned to the agents.A detailed discussion is in the Encyclopedia of Law andEconomics, online.Contexts: public economicsCobb-Douglas production function:A standard production functionwhich is applied to describe much outputtwo inputs into a production process make. It is used commonly in both macroand micro examples.For capital K, labor input L, and constants a, b, and c, the Cobb-Douglasproduction function isf(k,n) = bkancIf a+c=1 this production function has constant returns to scale.(Equivalently, in mathematical language, it would then be linearlyhomogenous.) This is a standard case and one often writes (1-a) in placeof c.Log-linearizationsimplifies the function, meaning just that takinglogs of both sides of a Cobb-Douglass function gives one better separation ofthe components.In the Cobb-Douglass function the elasticity of substitutionbetweencapital and labor is 1 for all values of capital and labor.With thanks to: Nelson NoyaContexts: modelscobweb model:A theoretical model of an adjustment process that on a price/quantity orsupply/demand graph spirals toward equilibrium.Example, from Ehrenberg and Smith: Suppose the equilibrium labor market wagefor engineers is stable over a ten-year period, but at the beginning of thatperiod the wage is above equilibrium for some reason. Operating on theassumption, let's say, that engineering wages will remain that high, too manystudents then go into engineering. The wage falls suddenly from oversupplywhen that population graduates. Too few students then choose engineering.Then there is a shortage following their graduation. Adjustment toequilibrium could be slow."Critical to cobweb models is the assumption that workers form myopicexpectations about the future behavior of wages." "Also critical tocobweb models is that the demand curve be flatter than the supply curve; if itis not, the cobweb 'explodes' when demand shifts and an equilibrium wage isnever reached."Source: Ehrenberg and Smith, 1994, p 292-3Contexts: labor; modelsCochrane-Orcutt estimation:An algorithm for estimating a time series linear regression in the presence ofautocorrelated errors. The implicit citation is to Cochrane-Orcutt (1949).The procedure is nicely explained in the SHAZAMmanual section onlineat the SHAZAM website. Their procedure includes an improvement to include the firstobservation attributed to the Prais-Winsten transformation. A summaryof their excellent description is below. This version of the algorithm canhandle only first-order autocorrelation but the Cochrane-Orcutt method couldhandle more.Suppose we wish to regress y[t] on X[t] in the presence of autocorrelatederrors. Run an OLSregression of y on X and construct a series ofresiduals e[t]. Regress e[t] on e[t-1] to estimate the autocorrelationcoefficient, denoted p here. Then construct seriesy* and X* by:y*1 = sqrt(1-p2)y1,X*1 = sqrt(1-p2)X1,andy*t = yt - pyt-1,X*t = Xt - pXt-1One estimates b in y=bX+u by applying this procedure iteratively -- renamingy* to y and X* to X at each step, until estimates of phave converged satisfactorily.Using the final estimate of p, one can construct an estimate of the covariancematrix of the errors, and apply GLSto get an efficient estimate of b.Transformed residuals, the covariance matrix of the estimate of b,R2, and so forth can be calculated; see source.Source: SHAZAMmanualContexts: estimation; time series; econometricscoefficient of absolute risk aversion:This is a measure of the responsiveness to risk implied by a utility functionof consumption, for each consumption level. Thus it is an attribute of amodel, not an empirical measure usually.It is defined by RA(c) = -u''(c) / u'(c).If RA(c) is constant for all c, and there are only two possibleinvestments, a risky one and a risk-free one, the amount of investmentin the one risky asset is constant for all c.See also coefficient of relative risk aversion, which iscRA(c).Source: Huang and Litzenberger, p. 20Contexts: finance; models; utilitycoefficient of determination:Same as R-squared.Source: Greene, 1993, p 72Contexts: econometricscoefficient of relative risk aversion:This is a measure of the responsiveness to risk implied by a utility functionof consumption, for each consumption level. Thus it is an attribute of amodel, not an empirical measure usually.It is defined by RA(c) = -cu''(c) / u'(c).If RR(c) is constant for all c, and there are only two possibleinvestments, a risky one and a risk-free one, the proportion ofinvestment in the one risky asset is constant for all c.See also coefficient of absolute risk aversion, which isRR(c)/c.Source: Huang and Litzenberger, p. 20Contexts: finance; models; utilitycoefficient of variation:An attribute of a distribution: its standard deviation divided by its mean.Example: In a series of wage distributions over time, the standard deviationmay rise over time with inflation, but the coefficient of variation may not,and thus the fundamental inequality may not.Source: Atkinson, 1970, p 252Contexts: statisticscohort:A sub-population going through some specified stage in a process. The term isoften applied to describe a population of persons going through some lifestage, like a first year in a new school.Contexts: data; laborcointegration:"An (n x 1) vector time series yt is said to becointegrated if each of the series taken individually is ... nonstationarywith a unit root, while some linear combination of the seriesa'y is stationary... for some nonzero (n x 1) vectora."Hamilton uses the phrasing that yt is cointegrated witha', and offers a couple of examples. One was that although consumptionand income time series have unit roots, consumption tends to be a roughlyconstant proportion of income over the long term, so (ln income) minus (lnconsumption) looks stationary.Source: Hamilton, p. 571Contexts: econometrics; time series; datacommercial paper:commoditized short-term corporate debt.Contexts: financecommon pool resource:A common pool resource is one which can be used by many users at once, and useby each one reduces the benefits available to the others. Examples are theradio spectrum, ocean fisheries, public roads and parks.Common pool resources are different from public goodssuch asinformation, for which use by one user does not reduce its availability toothers. (Kruse, 2002, p. 664.)Source: Kruse, Elizabeth F. "From free privilege to regulation: Wirelessfirms and the competition for spectrum rights before World War I"Business History Review, Winter 2002, 76:4.Contexts: public economicscompact:A set is compact if it is closed and bounded.The concept comes up most often in economics in the context of a theory inwhich a function must be maximized. Continuous functions that are welldefined on a compact domain have a maximum and minimum; this is theWeierstrauss Theorem. Noncontinuous functions, or functions on anoncompact domain, may not.Contexts: real analysis; micro theorycomparative advantage:To illustrate the concept of comparative advantage requires at least two goodsand at least two places where each good could be produced with scarceresources in each place. The example drawn here is from Ehrenberg and Smith(1997), page 136. Suppose the two goods are food and clothing, and that "theprice of food within the United States is 0.50 units of clothing and the priceof clothing is 2 units of food. [Suppose also that] the price of food inChina is 1.67 units of clothing and the price of clothing is 0.60 units offood." Then we can say that "the United States has a comparative advantage inproducing food and China has a comparative advantage in producing clothing.It follows that in a trading relationship the U.S. should allocate at leastsome of its scarce resources to producing food and China should allocate atleast some of its scarce resources to producing clothing, because this is themost efficient allocation of the scarce resources and allows the price of foodand clothing to be as low as possible.Famous economist David Ricardo illustrated this in the 1800s using wool inBritain and wine from Portugal as examples. The comparative advantage conceptseems to be one of the really challenging, novel, and useful abstractions ineconomics.Source: Ehrenberg and Smith, Modern Labor Economics, sixth editionContexts: tradecompensating variation:The price a consumer would need to be paid, or the price the consumer wouldneed to pay, to be just as well off after (a) a change in prices of productsthe consumer might buy, and (b) time to adapt to that change.It is assumed the consumer does not benefit or lose from producing theproduct.Source: Hicks, John R. 1942. "Consumers' Surplus and Index Numbers."Review of Economic Studies 9(2). pp 126-137.as cited in:Brynjolfsson, Erik, Michael D. Smith, Yu (Jeffrey) Hu. "Consumer Surplus inthe Digital Economy: Estimating the Value of Increased Product Variety." p.6.On the net as of Jan 7, 2003.Contexts: IOcompetency trap:The position of an organization which uses a suboptimal procedure because itis good enough in the short run and so does not switch to a better one.Becker (2004, p. 653) quotes Levitt and March (1988, p. 322) thus:"favorable performance with an inferior procedure leads an organizationto accumulate more experience with it, thus keeping experience with a superiorprocedure inadequate to make it rewarding to use".Source: Becker, Markus C. "Organizational routines: a review of theliterature." Industrial and Corporate Change. Vol 13, no. 4 (August2004), pp. 643-677.Levitt, B., and J. March. 1988. "Organizational learning,"Annual Review of Sociology, vol. 14, pp. 319-340.Contexts: management; sociology; organizationscomplete:(economics theory definition) A model's markets are complete if agents canbuy insurance contracts to protect them against any future time and state ofthe world.(statistics definition) In a context where a distribution is known except fora parameter q, a minimal sufficient statistic iscomplete if there is only one unbiased estimator of q using that statistic.Contexts: modelling; statisticscomplete market:One in which the complete set of possible gambles on futurestates-of-the-world can be constructed with existing assets.This is a theoretical ideal against which reality can be found more or lesswanting. It is a common assumption in finance or macro models, where the setof states-of-the-world is formally defined.Another phrasing: "a complete set of state contingent claim markets." (HL, p.124).Source: Huang and Litzenberger, 1988, p. 124Contexts: finance; modelsCompustat:a data set used in financeContexts: finance; dataconcavity of distribution function condition:A property of a distribution function-utility functionpair.(At least, it MAY require specification of the utility function; this editorcan't tell well.) It is assumed to hold in some principal-agentmodelsso as to make certain conclusions possible.Contexts: micro theoryconcentration ratio:A way of measuring the concentration of market share held by particularsuppliers in a market. "It is the percentage of total market salesaccounted for by a given number of leading firms." Thus a four-firmconcentration ratio is the total market share of the four firms with thelargest market shares. (Sometimes this particular statistic is called theCR4.)Source: Greer, 1992, p. 176Contexts: IOcondition number:A measure of how close a matrix is to being singular. Relevant in estimationif the matrix of regressors is nearly singular the data are nearly collinearand (a) it will be hard to make an accurate or precise inverse, (b) a linearregression will have large standard errors.The condition number is computed from the characteristic roots oreigenvalues of the matrix. If the largest characteristic root isdenoted L and the smallest characteristic root is S (both being presumed to bepositive here, that is, the matrix being diagnosed is presumed to be positivedefinite), then the condition number is:g = (L/S).5Values larger than 20, according to Greene (93), are observed if andonly if the matrix is 'nearly singular'.Greene cites Belsley et al (1980) for this term and the number 20.Source: Greene, 1993, p 33; cites Belsley et al 1980.Contexts: estimation; econometricsconditional:has a special use in finance when used without other modifiers; often means'conditional on time and previous asset returns'. In that context, one mightread 'returns are conditionally normally distributed.'Contexts: financeconditional factor demands:a collection of functions that give the optimal demands for each of severalinputs as a function of the output expected, and the prices of inputs. Oftenthe prices are taken as given, and incorporated into the functions, and sothey are only functions of the output.Usual forms:x1(w1, w2, y) is a conditional factordemand for input 1, given input prices w1 and w2, andoutput quantity ySource: Varian, 1992Contexts: models; microconditional variance:Shorthand often used in finance to mean, roughly, "variance at time tgiven that many events up through time t-1 are known."For example, it has been useful in studying aggregate stock prices, which gothrough periods of high volatility and periods of low volatility, to modelthem econometrically as having the variance at time t as coming from anARprocess. This is the ARCHidea. In such a statisticalmodel, the conditional variance is generally different from the unconditionalvariance. That is, the unconditional variance is the variance of the wholeprocess, whereas the 'conditional variance' can be better estimated since inthis phrasing it is assumed that we can estimate the immediately previousvalues of variance.Contexts: financeconformable:A matrix may not have the right dimension or shape to fit into some particularoperaton with another matrix. Take matrix addition -- the matrices aresupposed to have the same dimensions to be summed. If they don't, we can saythat they are not conformable for addition. The most common application ofthe term comes in the context of multiplication. Multiplying an M x N matrixA by an R x S matrix B directly can only be done if N=R. Otherwise thematrices are not conformable for this purpose. If instead M=R, then theintended operation may be to take the transpose of A and multiply it by B.This operation would properly be denoted A'B, where the prime denotes thetranspose of A.Contexts: econometrics; linear algebraconglomerate:A firm operating in several industries.Contexts: business; financeconsistent:An estimator for a parameter is consistent iff the estimator converges inprobability to the true value of the parameter; that is, the plim of theestimator, as the sample size goes to infinity, is the parameter itself.Another phrasing: an estimator is consistent if it has asymptoticpowerof one."Consistency", without a modifier, is synonymous with weakconsistency.From Davidson and Mackinnon, p. 79: If for any possible value of theparameter q in a region of a parameter space thepowerof a test goes to one as sample size n goes to infinity, thattest is said to be consistent against alternatives in that region of theparameter space. That is, if as the sample size increases we can in the limitreject every false hypothesis about the parameter, the test is consistent.How does one prove that an estimator is consistent? Here are two ways.(1) Prove directly that if the model is correct, the estimator haspowerone in the limit to reject any alternative but the trueparameter.(2) Sufficient conditions for proving that an estimator is consistent are (i)that the estimator is asymptotically unbiased and (ii) that its variancecollapses to zero as the sample size goes to infinity. This method of proofis usually easier than (1) and is commonly used.The existence of a consistent estimator for a parameter is proof thatthe parameter is identified. But a parameter could be identifiedwithout there being a consistent estimator. For more on this see comment on consistency and identification.Contexts: econometrics; statistics; estimationconstant returns to scale:An attribute of a production function. A production function exhibitsconstant returns to scale if changing all inputs by a positive proportionalfactor has the effect of increasing outputs by that factor. This may be trueonly over some range, in which case one might say that the production functionhas constant returns over that range.Contexts: modelsConsumer Expenditure Survey:Conducted by the U.S. government. See itsWeb site.Contexts: dataconsumption beta:"A security's consumption beta is the slope in the regression of itsreturn on per capita consumption."Source: Fama 1991 p 1596Contexts: financeconsumption set:The set of affordable consumption bundles. One way to define a consumptionset is by a set of prices, one for each possible good, and a budget. Or aconsumption set could be defined in a model by some other set of restrictionson the set of possible consumption bundles.E.g. if consumer i can consume nonnegative quantities of all goods, it isstandard to define xi as i's consumption set, a member ofR+L where L is the number of goods. Normally ifthe agent is endowed with a set of goods, the endowment is in the consumptionset.Contexts: general equilibrium; modelscontingent valuation:The use of questionnaires about valuation to estimate the willingness ofrespondents to pay for public projects or programs.Often the question is framed, "Would you accept a tax of x to pay for theprogram?" Any such survey must be carefully done, and even so there isdispute about the value of the basic method, as is discussed in the issue ofthe JEPwith the Portney (1994) article.Source: Portney, 1994Contexts: public financecontract curve:Same as Pareto set, with the implication that it is drawn in anEdgeworth box.Source: Varian, 1992, p 324Contexts: micro theory; general equilibrium; modelscontraction mapping:Given a metric spaceS with distance measure d(), and T:S-<S mappingS into itself, T is a contraction mapping if for some b ('b') in the range (0,1), d(Tx,Ty) is less than or equal tob*d(x,y) for all x and y in S.One often abbreviates the phrase 'contraction mapping' by saying simply that Tis a contraction.The function resulting from the applications of a contraction could slope theopposite way of the original function as long as it is less steeply sloped.A standard way to prove that an operator T is a contraction is to prove thatit satisfies Blackwell's conditions.Source: Stokey and Lucas, 1989Contexts: macro; modelscontractionary fiscal policy:A government policy of reducing spending and raising taxes.In the language of some first courses in macroneconomics, it shifts the IScurve (investment/saving curve) to the left.Contexts: macrocontractionary monetary policy:A government policy of raising interest rates charged by the centralbank.In the language of some first courses in macroeconomics, it shifts the LMcurve (liquidity/money curve) to the left.Contexts: macrocontrol for:As used in the following way: "The effect of X on Y disappears when wecontrol for Z", the phrase means to regress Y on both X and Z, together,and to interpret the direct effect of X as the only effect. Here the effectof Z on X has been "controlled for". It is implied that X is notcausing changes in Z.Contexts: phrases; econometricscontrol variable:A variable in a model controlled by an agent in order to optimizesomething.Contexts: modelsconvergence:Multiple meanings: (1) a mathematical property of a sequence or series thatapproaches a value;In macro:"'Catch-up' refers to the long-run process by which productivity laggardsclose the proportional gaps that separate them from the productivity leader.... 'Convergence,' in our usage, refers to a reduction of a measure ofdispersion in the relative productivity levels of the array of countries underexamination." Like Barro and Sala-i-Martin (92)'s "sigma-convergence", anarrowing of the dispersion of country productivity levels over time.Source: From Moses Abramovitz and Paul A. David, 1996. "Convergence andDeferred Catch-up: productivity leadership and the waning of Americanexceptionalism." In Mosaic of Economic Growth, edited by Ralph Landau,Timothy Taylor, and Gavin Wright.convergence in quadratic mean:A kind of convergence of random variables. If xt converges inquadratic mean it converges in probability but it does not necessarilyconverge almost surely.The following is a best guess, not known to be correct.Let et be a stochastic process and Ft be an informationset at time t uncorrelated with et:E[et|Ft-m] converges in quadratic mean to zero as m goesto infinity IFF:E[E[et|Ft-m]2] converges to zero as m goes toinfinity.Contexts: probability; econometricsconvolution:The convolution of two functions U(x) and V(x) is the function:U*V(x) = (integral from 0 to x of) U(t)V(x-t) dtSource: Derrick, 1984Contexts: calculus; complex analysis; real analysis; time seriesCook's distance:A metric for deciding whether a particular point alone affects regressionestimates much. After a regression is run one can consider for each datapoint how far it is from the means of the independent variables and thedependent variable. If it is far from the means of the independent variablesit may be very influential and one can consider whether the regression resultsare similar without it.[Need to add the equation defining the Cook's d here.]Source: Stephen Brown (stephenb@nwu.edu as of Aug 25, 1999)With thanks to: Stephen Brown (stephenb@nwu.edu as of Aug 25, 1999)Contexts: estimationcooperative game:A game structure in which the players have the option of planning as a groupin advance of choosing their actions. Contrast noncooperativegame.Contexts: game theorycore:Defined in terms of an original allocations of goods among agents withspecified utility functions. The core is the set of possible reallocationssuch that no subset of agents could break off from the others and all dobetter just by trading among themselves.Equivalently: The intersection of individually rational allocations with thePareto efficientallocations. Individually rational, here, means theallocations such that no agent is worse off than with his endowment in theoriginal allocation.Contexts: general equilibrium; modelscorner solution:A choice made by an agent that is at a constraint, and not at the tangency oftwo classical curves on a graph, one characterizing what the agent couldobtain and the other characterizing the imaginable choices that would attainthe highest reachable value of the agents' objective.A classic example is the intersection between a consumer's budget line(characterizing the maximum amounts of good X and good Y that the consumer canafford) and the highest feasible indifference curve. If the agent's bestavailable choice is at a constraint -- e.g. among affordable bundles of good Xand good Y the agent prefers quantity zero of good X -- that choice is oftennot at a tangency of the indifference curve and the budget line, but at a"corner"Contrast interior solution.Contexts: micro theory; phrasescorrelation:Two random variables are positively correlated if high values of one arelikely to be associated with high values of the other. They are negativelycorrelated if high values of one are likely to be associated with low valuesof the other.Formally, a correlation coefficient is defined between the two randomvariables (x and y, here). Let sx and xy denote thestandard devationsof x and y. Let sxy denote thecovarianceof x and y. The correlation coefficent between x and y,denoted sometimes rxy, is defined by:rxy = sxy / sxsyCorrelation coefficients are between -1 and 1, inclusive, by definition. Theyare greater than zero for positive correlation and less than zero for negativecorrelations.Source: Greene, 1997, page 102-3Contexts: statistics; econometricscost curve:A graph of total costs of production as a function of total quantityproduced.Contexts: IO; microcost function:is a function of input prices and output quantity. Its value is the cost ofmaking that output given those input prices.A common form:c(w1, w2, y) is the cost of making output quantity yusing inputs that cost w1 and w2 per unit.Source: Varian, 1992Contexts: modelscost-benefit analysis:An approach to public decisionmaking. Quotes below from Sugden andWilliams, 1978p. 236, with some reordering:"Cost-benefit analysis is a 'scientific' technique, or a way of organizingthought, which is used to compare alternative social states or courses ofaction." "Cost-benefit analysis shows how choices should be made so as topursue some given objective as efficiently as possible." "It has twoessential characteristics, consistency and explicitness. Consistency is theprinciple that decisions between alternatives should be consistent withobjectives....Cost-benefit analysis is explicit in that it seeks toshow that particular decisions are the logical implications ofparticular, stated, objectives.""The analyst's skill is his ability to use this technique. He is hired touse this skill on behalf of his client, the decision-maker..... [Theanalyst] has the right to refuse offers of employment that would require himto use his skills in ways that he believes to be wrong. But to accept therole of analyst is to agree to work with the client's objectives."p. 241: Two functions of cost-benefit analysis: It "assists thedecision-maker to pursue objectives that are, by virtue of the community'sassent to the decision-making process, social objectives. And by makingexplicit what these objectives are, it makes the decision-maker moreaccountable to the community.""This view of cost-benefit analysis, unlike the narrower value-freeinterpretation of the decision-making approach, provides a justification forcost-benefit analysis that is independent of the preferences of theanalyst's immediate client. An important consequence of this is that therole of the analyst is not completely subservient to that of thedecision-maker. Because the analyst has some responsibility of principlesover and above those held by the decision-maker, he may have to askquestions that the decision-maker would prefer not to answer, and whichexpose to debate conflicts of judgement and of interest that might otherwisecomfortably have been concealed."Source: Sugden and Williams, 1978Contexts: publiccost-of-living index:A cost-of-living price index measures the changing cost of a constant standardof living. The index is a scalar measure for each time period. Usually it isa positive number which rises over time to indicate that there was inflation.Two incomes can be compared across time by seeing whether the incomes changedas much as the index did.Contexts: macro; pricescostate:A costate variable is, in practice, a Lagrangian multiplier, orHamiltonian multiplier.Contexts: modelscountable additivity property:the third of the properties of a measure.Contexts: math; probability; measure theorycoupon strip:A bond can be resold into two parts that can be thought of as components: (1)a principal component that is the right to receive the principal at the enddate, and (2) the right to receive the coupon payments. The components arecalled strips. The right to receive coupon payments is the couponstrip.Contexts: finance; businessCournot duopoly:A pair of firms who split a market, modeled as in the Cournotgame.Contexts: IO; modelsCournot game:A game between two firms. Both produce a certain good, say, widgets. Noother firms do. The price they receive is a decreasing function of the totalquantity of widgets that the firms produce. That function is known to bothfirms. Each chooses a quantity to produce without knowing how much the otherwill produce.Contexts: game theory; IOCournot model:A generalization of the Cournot gameto describe industry structure.Each of N firms will choose a quantity of output. Price is a commonly-knowndecreasing functions of total output. All firms know N and take the output ofthe others as given. Each firm has a cost functionci(qi). Usually the cost functions are treated ascommon knowledge. Often the cost functions are assumed to be the same for allfirms.The prediction of the model is that the firms will choose Nashequilibriumoutput levels.Formally, from notes given by Michael Whinston to the Economics D50-1 class atNorthwestern U. on Sept 23, 1997:Denote xi as a quantity that firm i considers,X as the total quantity (the sum of the xi's),xi* and X* as the Nash equilibrium levels of those quantities,X-i as the total quantity chosen by all firms other than firmi,and p(X) as the function mapping total quantity to price in the market.Each firm i solves:maxxip(xi+X-i)-ci(xi)The first order conditions are, for i from 1 to N:p'(xi*+X-i)+p(X*)-ci'(xi*)=0Assuming xi* is greater than 0 for all i, then the Nash equilibriumoutput levels are characterized by the N equations:p'(X*)xi* + p(X*) = ci'(xi*) for eachi.Source: handout of Michael Whinston, 9/23/97.Contexts: IOcovariance stationary:A stochastic processis covariance stationary if neither itsmeannor its autocovariancesdepend on the time or spatialindex. For an empirical purpose, one might formally make the assumption thata time series was covariance stationary, then use the data to estimate themean, variance, and autocovariances.Formally the definition can be written this way. A stochastic process{yt} is covariance stationary if there exists a constant mean m, a constant variance s2, and a series of constantautocovariances gs such that(using E as the mean or expectations operator):(1) E[yt] = m for all integers t(2) E[(yt-m)2)] =s2 for all integers t and(3) E[(yt-m)(yt+j-m)] =E[(ys-m)(ys+j-m)] for all integers s, t,and j.Contrast strict stationaritywhich is usually stricter but includesprocess which do not have finite variances. Covariance stationary means thesame as weakly stationaryand generally the same as juststationary.Source: Enders, 1995, p. 69Contexts: econometrics; time seriescovered:Covered employment is that set of U.S. jobs which pay into the stateunemployment insurance systems and therefore the holders of the jobs willreceive insurance payments if they are laid off.Contexts: governmentCowles Commission:A 1950s, probably British, panel on econometrics which focussed attention onthe problem of simultaneous equations. In some tellings of the history thishad an impact on the field -- other problems such as errors-in-variables(measurement errors in the independent variables), were set aside or givenlower priority elsewhere too because of the prestige and influence of theCowles Commission.Source: The New Palgrave: Econometrics (e.g. p.82)Contexts: econometricsCPI:The Consumer Price Index, which is a measure of the cost of goods purchased byaverage U.S. household. It is calculated by the U.S. government's Bureau of Labor Statistics.As a pure measure of inflation, the CPI has some flaws:1) new product bias (new products are not counted for a while after theappear)2) discount store bias (consumers who care won't pay full price)3) substitution bias (variations in price can cause consumers to respond bysubstituting on the spot, but the basic measure holds their consumption ofvarious goods constant)4) quality bias (product improvements are under-counted)5) formula bias (overweighting of sale items in sample rotation)Source: Message from Louis Crandall of Wrightson Associates onsci.econ.research circa 10/24/96.Contexts: macro; labor; dataCPI-U:The U.S.'s government's "Consumer Price Index for All UrbanConsumers.Contexts: dataCPI-W:The U.S.'s government's "Consumer Price Index for Urban Wage Earners andClerical Workers.Contexts: dataCPS:The Current Population Survey (of the U.S.) is compiled by the U.S. Bureau ofthe Census, which is in the Dept of Commerce. The CPS is the source ofofficial government statistics on employment and unemployment in the U.S.Each month 56,500-59,500 households are interviewed about their average weeklyearnings and average hours worked. The households are selected by area torepresent the states and the nation. "Each household is interviewed oncea month for four consecutive months in one year and again for thecorresponding time period a year later" to make month-to-month andyear-to-year comparisons possible.The March CPS is special. For one thing the respondents are asked aboutinsurance then.Source: Blanchflower and Oswald, Ch 4, p. 171; Freeman,1991Contexts: dataCramer-Rao lower bound:Whenever the Fisher informationI(b) is a well-defined matrix ornumber, the varianceof an unbiased estimatorB for b is atleast as large as [I(B)]-1.Source: Greene, 1993, p 96Contexts: econometrics; statistics; estimationcreative destruction:The phenomenon of old industries being wiped out and new ones arising throughthe process of changing opportunities (like new technology) under capitalism.The term is attributed by Mancusi, 2004, p. 272 to Schumpeter, 1912.Source: Mancusi, Maria Luisa. "Georgraphical concentration and the dynamicsof countries' specialization in technologies" Economics of Innovation andNew Technology 2003, vol 12:3, pp. 269-291.Schumpeter, Joseph. 1912. The Theory of Economic Development.Contexts: phrasescriterion function:Synonym for loss function. Used in reference to econometrics.Contexts: econometrics; estimationcritical region:synonym for rejection region. This describes the subset of the samplespace which would cause rejection of the hypothesis being tested.Source: Davidson and MacKinnon, 1993, p 78-79; Hogg and Craig,5th edition, p. 282Contexts: econometrics; estimationCronbach's alpha:A test for a model or survey's internal consistency. Called a 'scalereliability coefficient' sometimes. The remainder of this definition ispartial and unconfirmed.Cronbach's alpha assesses the reliability of a rating summarizing a group oftest or survey answers which measure some underlying factor (e.g., someattribute of the test-taker). A score is computed from each test item and theoverall rating, called a 'scale' is defined by the sum of these scores overall the test items. Then reliability a is definedto be the square of the correlation between the measured scale and theunderlying factor the scale was supposed to measure. (Which implies that onehas another measure in test cases of that underlying factor, or that it'simputed from the test results.)(In Stata's examples it remains unclear what the scale is, and how it'smeasured; apparently alpha can be generated without having a measure of theunderlying factor.)Source: StataCorp. 1999 Stata Statistical Software: Release 6.0.College Station, TX: Stata Corporation. pages 20-24 of Reference Volume1.Contexts: surveyscross-section data:Parallel data on many units, such as individuals, households, firms, orgovernments. Contrast panel dataor time seriesdata.Contexts: econometrics; estimationcross-validation:A way of choosing the window widthfor a kernel estimation. Themethod is to select, from a set of possible window widths, one that minimizesthe sum of errors made in predicting each data point by using kernelregression on the others.Formally, let J be the number of data points, j an index to each one, from oneto J, yj the dependent variable for each j, Xj theindependent variables for that j, Yj the dependent variable forthat j, and {hi} for i=1 to n the set of candidate window widths.The hi's might be a set of equally spaced values on a grid. Thealgorithm for choosing one of the hi's is:For each candidate window width hi{..For each j from 1 to J..{....Drop the data point (Xj, Yj) from the sampletemporarily....Run a kernel regression to estimate Yj using the remaining X'sand Y's....Keep track of the square of the error made in that prediction..}..Sum the squares of the errors for every j to get a score for candidatewindow width hi..Record that in a list as the score for hi}Select as the outcome h of this algorithm the hi with the lowestscoreThe grid approach is necessary because the problem is not concave. Otherwiseone might try a simpler maximization e.g., with the first orderconditions.Note however that a complete execution of the cross-validation method can bevery slow because it requires as many kernel regressions as there are datapoints. E.g. in this author's experience, the cross-validation computationfor one window width on 500 data points on a Pentium-90 in Gauss took aboutfive seconds, 1000 data points took circa seventeen seconds, but for 15000data points it took an hour. (Then it takes another hour to check anotherwindow width; so even the very simplest choice, between two window widths,takes two hours.)Source: Hardle, 1990Contexts: nonparametrics; estimation; econometrics; statisticsCRRA:Stands for Constant Relative Risk Aversion, a property of some utilityfunctions, also said to have isoelastic form. CRRA is a synonym forCES.Example 1: for any real aa/a is a CRRA utility function.It is a vNMutility function.Source: Blanchard and Fischer, pp 43-44.Contexts: models; financeCRS:Stands for Constant Returns to Scale.CRSP:Center for Research in Security Prices, a standard database of financeinformation at the University of Chicago. Has daily returns on NYSE, AMEX,and NASDAQ stocks.Started in early 1970s by Eugene Fama among others. The data there was somuch more convenient than alternatives that it drove the study of securityprices for decades afterward. It did not have volume data which meant thatvolume/volatility tests were rarely done.Contexts: finance; datacubic spline:A particular nonparametric estimator of a function. Given a data set{Xi, Yi} it estimates values of Y for X's other thanthose in the sample. The process is to construct a function that balances thetwin needs of (1) proximity to the actual sample points, (2) smoothness. So a'roughness penalty' is defined. See Hardle's equation 3.4.1 near p. 56 forexact equation. The cubic spline seems to be the most common kind of splinesmoother.Source: Hardle, 1990Contexts: econometrics; nonparametrics; estimationcurrent account balance:The difference between a country's savings and its investment. "[If]positive, it measures the portion of a country's saving invested abroad; ifnegative, the portion of domestic investment financed by foreigners'savings."Defined by the sum of the value of imports of goods and services plus netreturns on investments abroad, minus the value of exports of goods andservices, where all these elements are measured in the domesticcurrency.Source: Maurice Obstfeld, "The global capital market: benefactor ormenace?", Journal of Economic Perspectives, vol 12, no. 4, Fall1998, page 11.Contexts: trade; international; macroDARA:decreasing absolute risk aversiondata:Relevant terms: AFQT,Amos,BHPS,BLS,CEX,clustered data,cohort,cointegration,Compustat,Consumer Expenditure Survey,CPI,CPI-U,CPI-W,CPS,CRSP,DataDesk,EconLit,ExecuComp,FASB,filter,FIPS,Freddie Mac,Gauss,GDP deflator,GSOEP,High School and Beyond,HSB,INSEE,IPUMS,Limdep,longitudinal data,M1,March CPS,Matlab,Minitab,MSA,natural experiment,NELS,NIPA,NLREG,NLS,NLSY,NLSYW,NORC,OES,poverty,PSID,RATS,ridit scoring,S-Plus,SAS,SHAZAM,SIC,SIPP,SLID,SMSA,Solas,SPSS,SSEP,SSRN,Stata,Statistica,SUDAAN,top-coded,tutorial,unemployment,urban ghetto,WesVar,X-11 ARIMA.Contexts: fieldsDataDesk:Data analysis software, discussed at http://www.datadesk.com.Contexts: data; softwaredecision rule:Either (1) a function that maps from the current state to the agent's decisionor choice or (2) a mapping from the expressed preferences of each of a groupof agents to a group decision. The first is more relevant to decision theoryand dynamic optimization; the second is relevant to game theory.The phrase allocation rule is sometimes used to mean the same thing asdecision rule. The term strategy-proofhas been defined in bothcontexts.Contexts: macro; models; game theorydecomposition theorem:Synonym for FWL theoremor Frisch-Waugh-Lovell theorem.Contexts: econometricsdeductive:Characterizing a reasoning process of logical reasoning from statedpropositions. Contrast inductive.Contexts: philosophydeep:A capital market may be said to be deep if it has great depth(whichsee).May less formally be used to describe a market with large total marketcapitalization.Contexts: financedelta:As used with respect to options: The rate of change of a financialderivative's price with respect to changes in the price of the underlyingasset. Formally this is a partial derivative.A derivative is perfectly delta-hedged if it is in a portfolio with a delta ofzero. Financial firms make some effort to construct delta-hedgedportfolios.Source: Hull, 1997, p 312Contexts: financedelta method:Gives the distribution of a function of random variablesfor which onehas a distribution. In particular, for the function g(b,l), where b and l areestimatorsfor true values b0 and l0:g(b,l) ~ N(g(b0,l0), g'(b,l)var(b,l)g'(b,l)')Contexts: statistics; econometricsdemand:A relation between each possible price and the quantity demanded at thatprice.[Aspects of the population doing the demanding are often left implicit. Anactual supply is not necessary to conceive of demand because demand involveshypothetical quantities.]Source: macro; micro theorydemand curve:For a given good, the demand curve is a relation between each possible priceof the good and the quantity that would be bought at market sale at thatprice.Drawn in introductory classes with this arrangement of the axes, althoughprice is thought of as the independent variable:Price | \| \| \| \ Demand|________________________QuantityContexts: microdemand deposits:The money stored in the form of checking accounts at banks.Contexts: macro; moneydemand set:In a model, the set of the most-preferred bundles of goods an agent canafford. This set is a function of the preference relation for this agent, theprices of goods, and the agent's endowment.Assuming the agent cannot have a negative quantity of any good, the demand setcan be characterized this way:Define L as the number of goods the agent might receive an allocation of. Anallocation to the agent is an element of the spaceR+l; that is, the space of nonnegative realvectors of dimension L.Define <p as a weak preference relation over goods; that is,x<px' states that the allocation vector xis weakly preferred to x' .Let e be a vector representing the quantities of the agent's endowmentof each possible good, and p be a vector of prices for those goods.Let D(<p,p,e) denote the demand set. Then:D(<p,p,e) = {x: px pe andx <p x' for all affordable bundlesx'}.Contexts: general equilibrium; modelsdemocracy:Literally "rule by the people". This is a dictionary definition andis not considered sharp enough for academic use. Schumpeter (1942) contraststhese two definitions below and regards only the second one as useful andplausible enough to work with:"The eighteenth-century philosophy of democracy may be couched in thefollowing definition: the democratic method is that institutional arrangementfor arriving at political decisions which realizes the common good by makingthe people itself decide issues through the election of individuals who are toassemble in order to carry out its will." (p 250)This "classical" definition has the problem that the will of thepeople is not clearly defined here (e.g. consider voting paradoxes) or known(perhaps even to the people at the time), and this can lead to ambiguity aboutwhether a given political system is democratic. The following definition ispreferred for its clarity but has a modern feel that is at some distance fromthe original dictionary definition. Political representation is assumed to benecessary here."[T]he democratic method is that institutional arrangement for arrivingat political decisions in which individuals acquire the power to decide bymeans of a competitive struggle for the people's vote." (p 269) Moreclearly: the democratic method is one in which people campaign competitivelyfor the people's votes to achieve the power to make public decisions. Thisdefinition is the sharpest.Source: Schumpeter, Joseph R. 1950. Capitalism, Socialism, andDemocracy, third edition. (First edition 1942.) Harper & Row. NewYork.Contexts: political economydemography:The study of the size, growth, and age and geographical distribution of humanpopulations, and births, deaths, marriages, and migrations.density function:A synonym for pdf.Contexts: econometrics; statisticsdepreciation:The decline in price of an asset over time attributable todeterioration, obsolescence, and impending retirement. Appliesparticularly to physical assets like equipment and structures.Source: Hulten, 2000, p. 8Contexts: macro; accountingdepth:An attribute of a market.In securities markets, depth is measured by "the size of an order flowinnovation required to change prices a given amount." (Kyle, 1985, p1316).Source: Kyle, 1985, p 1316Contexts: financederivatives:securities whose value is derived from the some other time-varying quantity.Usually that other quantity is the price of some other asset such as bonds,stocks, currencies, or commodities. It could also be an index, or thetemperature. Derivatives were created to support an insurance market againstfluctuations.Contexts: financedeterioration:The process or occurrence of an asset's declining productivity as it ages.This is a component of depreciation.determinant:An operator defined on square matrices or the value of that operator. For amatrix B the determinant is denoted |B|. Its value is a unique scalar.Calculation of the value of the determinant is discussed in linear algebrabooks.Source: Chiang, 1984, p 93Contexts: linear algebradeterministic:Not random. A deterministic function or variable often means one that is notrandom, in the context of other variables available.That is, those other variables determine the variable in question unerringly,by a function that would give the same value every time those other variableswere given to it as arguments, unlike a random one which with some probabilitywould give different answers.Contexts: phrasesdevelopment:The study of industrialization.Relevant terms: Kuznets curve.Contexts: fieldsDickey-Fuller test:A Dickey-Fuller test is an econometric test for whether a certain kind of timeseries data has an autoregressive unit root.In particular in the time series econometric modely[t] =by[t-1] + e[t], wheret is an integer greater than zero indexing time, andb=1, letbOLSdenote the OLSestimate ofb from a particular sample.Let T be the sample size.Then the test statistic T*(bOLS-1) has a known, documented distribution. Its value in a particular samplecan be compared to that distribution to determine a probability that theoriginal sample came from a unit rootautoregressive process; that is,one in whichb=1.Source: Greene, 1997, Dickey and Fuller (1979) and (1981)(which are cited by Greene).Contexts: econometrics; time seriesdictator game:A formal game with two players: Allocator A and Recipient R. They havereceived a windfall of, say, $1. The allocator, moving first, proposes asplit so that A would receive x and R would receive 1-x. The recipient thenaccepts, no matter what A proposed. In a subgame perfect equilibrium, A wouldoffer R nothing. In experiments with human subjects, however, in which A andR do not know one another, A offers relatively large shares to R (often50-50). See also Ultimatum Game.Contexts: game theory; modelsdiffuse prior:In Bayesian statistics the investigator has to specify a prior distributionfor a parameter, before the experiment or regression that is to update thatdistribution. A diffuse prior is a distribution of the parameter with equalprobability for each possible value, coming as close as possible torepresenting the notion that the analyst hasn't a clue about the value of theparameter being estimated.Source: Posts to the newsgroup sci.econ.research by moderator AK andezivot@u.washington.edu, responding to a question by Herbert M Gintis circaFeb 5, 1999.Contexts: statisticsdiscount factor:In a multi-period model, agents may have different utility functions forconsumption (or other experiences) in different time periods. Usually in suchmodels they value future experiences, but to a lesser degree than presentones. For simplicity the factor by which they discount next period's utilitymay be a constant between zero and one, and if so it is called a discountfactor. One might interpret the discount factor not as a reduction in theappreciation of future events but as a subjective probability that the agentwill die before the next period, and so discounts the future experiences notbecause they aren't valued, but because they may not occur.A present-oriented agents discounts the future heavily and so has a LOWdiscount factor. Contrast discount rateandfuture-oriented.In a discrete time model where agents discount the future by a factor of b,one usually lets b=1/(1+r) where r is the discount rate.Contexts: modelsdiscount rate:At least two meanings:(1) The interest rate at which an agent discounts future events inpreferences in a multi-period model. Often denoted r.A present-oriented agent discounts the future heavily and so has a HIGHdiscount rate. Contrast 'discount factor'. See also 'future-oriented'.In a discrete time model where agents discount the future by a factor of b,one finds r=(1-b)/b, following from b=1/(1+r).(2) The Discount Rate is the name of the rate at which U.S. banks can borrowfrom the U.S. Federal Reserve.Contexts: finance; models; institutionsdiscrete choice linear model:An econometric model: Pr(yi=1) = F(Xi'b) =Xi'bContexts: econometrics; estimationdiscrete choice model:An econometric model in which the actors are presumed to have made a choicefrom a discrete set. Their decision is modeled as endogenous. Often thechoice is denoted yi.Contexts: econometrics; estimationdiscrete regression models:Econometrics models in which the dependent variables assumes discretevalues.Source: Maddala, p. 13Contexts: econometricsdiseconomies of scale:Like economies of scalebut with the implication that they arenegative, so larger scale would increase cost per unit.disintermediation:prevention of banks from flowing money from savers to borrowers as an effectof regulations; e..g the U.S. home mortgage market is partly blocked frombanks and left to savings and loan institutions.Source: BransonContexts: macrodismal science:Refers to the field of economics. The term continues to be used perhapsbecause economics is so often about tradeoffs and is therefore said to bedepressing to study.This pejorative term was coined in the 1800s partly because of the assumptionby economists such as J.S. Mill that persons are similar and their differencesin behavior can often be traced to institutions and incentives. This wasthought to be a dismal attitude by a person who believed that races of peoplehad very different inborn capabilities and attitudes. Seehttp://www.econlib.org/library/Columns/LevyPeartdismal.htmlfor more ofthe history.Contexts: phrasesdistribution function:A synonym for cdf.Contexts: econometrics; statisticsDivisia index:A continuous-time index number. "The Divisia index is a weighted sum ofgrowth rates, where the weights are the components' shares in totalvalue." -- Hulten (1973, p. 1017)See alsohttp://www.geocities.com/jeab_cu/paper2/paper2.htm.Source: Hulten, 1973;Hulten, 2000;Richter, 1966Contexts: index numbers; macroDOJ:Abbreviaton for the U.S. national Department of Justice, which does amongother things investigations into violations of antitrust law. See alsoFTC.Contexts: IO; regulation; antitrustdollarization:Widespread use, or routine official government use, of US dollars in a countryin place of that country's own currency.Source: Officer, Lawrence H., "Reviewof Kurt Schuler Currency Boards andDollarization" Economic History Services, Nov 14, 2003, URL:http://www.eh.net/bookreviews/library/0705.shtml;http://www.dollarization.org;Domar aggregation:This seems to be the principle that the growth rate of an aggregate is theweighted average of the growth rates of its components, where each componentis weighted by the share of the aggregate it makes up. The idea comes up inthe context of national accountsand national statistics.Contexts: macro; measurement; governmentdominant design:After a technological innovcation and a subsequent era of ferment in anindustry, a basic architecture of product or process that becomes the acceptedmarket standard. From Abernathy& Utterback 1978, cited by A&T 1991. Dominantdesigns may not be better than alternatives nor innovative. They have thebenchmark features to which subsequent designs are compared. Examples includethe IBM 360 computer series and Ford's Model T automobile, and the IBMPC.Source: Abernathy. 1978.;Philip Anderson and Michael L. Tushman, Research-Technology Management,May/June 1991, pp 26-31.Contexts: IO; business history; technology; managementDonsker's theorem:Synonymous with Functional Central Limit Theorem (FCLT).Source: Richardson and Stock (1989)Contexts: time seriesdouble coincidence of wants:phrasing from Jevons (1893). "[T]he first difficulty in barter is tofind two persons whose disposable possessions mutually suit each other'swants. There may be many people wanting, and many possessing those thingswanted; but to allow of an act of barter there must be a double coincidence,which will rarely happen." That is, paraphrasing Ostroy and Starr, 1990,p 26, the double coincidence is the situation where the supplier of good Awants good B and the supplier of good B wants good A.The point is that the institution of money gives us a more flexible approachto trade than barter, which has the double coincidence of wantsproblem.Source: Ostroy and Starr, 1990, p 26Contexts: money; modelsdummy variable:In an econometric model, a variable that marks or encodes a particularattribute. A dummy variable has the value zero or one for each observation,e.g. 1 for male and 0 for female. Same as indicator variables or binaryvariables.Contexts: econometricsdumping:An informal name for the practice of selling a product in a foreign countryfor less than either (a) the price in the domestic country, or (b) the cost ofmaking the product. It is illegal in some countries to dump certain productsinto them, because they want to protect their own industries from suchcompetition.Contexts: tradeDurbin's h test:An algorithm for detecting autocorrelation in the errors of a time seriesregression. The implicit citation is to Durbin (1970). The h statistic isasymptotically distributed normally if the hypothesis that there is noautocorrelation.Source: SHAZAMmanualContexts: estimation; time series; econometricsDurbin-Watson statistic:A test for first-order serial correlation in the residuals of a time seriesregression. A value of 2.0 for the statistic indicates that there is noserial correlation. For tables to interpret the statistic see Greene pgs738-743, and context discussing them is on pages 424-425.This result is biased toward the finding that there is no serialcorrelation if lagged values of the regressors are in the regression.Formally, the statistic is:d=(sum from t=2 to t=T of: (et-et-1)2/(sumfrom t=1 to t=T of: et2)where the series of et are the residuals from a regression.Source: Greene, 1993, p 423-4Contexts: time series; estimation; econometricsdyadic map:synonym for dyadic transformation.Source: Domowitz and Muus, 1992, p 2849Contexts: dynamical systems; chaosdyadic transformation:For whole numbers t and initial value x0 in [0,1], consider themapping:xt+1 = (2xt) mod 1"This law of motion is a standard example of chaoticdynamics. It is commonly known as the dyadic transformation. It ismixing(and hence also ergodic)."-- Domowitz and Muus, 1992, p 2849All the xt's will be in [0,1]. Their distribution will depend onthe initial value x0. If x0 is rational, the mappingwill eventually become periodic (for large enough values of t). Ifx0 is irrational, the mapping is never periodic.Source: Domowitz and Muus, 1992, p 2849Contexts: dynamical systems; chaosdynamic:means "changing over time".dynamic inconsistency:A possible attribute of a player's strategy in a dynamic decision-makingenvironment (such as a game).When the best plan that a player can make for some future period will not beoptimal when that future period arrives, the plan is dynamically inconsistent.In one stylized example, addicted smokers face this problem -- each day, theirbest plan is to smoke today, and to quit (and suffer) tomorrow in order to gethealth benefits subesquently. But the next day, that is once again the bestplan, so they do not quit then either. (In a model this can come about if theplanner values the present much more than the near future, -- that is, has alow short-run discount factor -- but has a higher discount factor between twofuture periods.)Monetary policy is sometimes said to suffer from a dynamic inconsistencyproblem. Government policymakers are best off to promise that there will beno inflation tomorrow. But once agents and firms in the economy have fixednominal contracts, the government would get seignioragerevenues fromraising the level of inflation.Source: Cukierman, 1992; Kydland and Prescott,1977Contexts: macro; money; game theory; dynamic optimizationdynamic multipliers:The impulse responses in a distributed lag model.Source: M.W. Watson, Ch 47, Handbook of Econometrics, p, 2899.Contexts: econometrics; macrodynamic optimization:Relevant terms: Bellman equation,chaotic,dynamic inconsistency,dynamic optimizations,dynamic programming,dynamical systems,hyperbolic discounting,quasi-hyperbolic discounting,time inconsistency.Contexts: fieldsdynamic optimizations:maximization problems to which the solution is a function; equivalently,optimization problems in infinite-dimensional spaces.Source: Stokey and Lucas, 1989Contexts: macro; models; dynamic optimizationdynamic programming:The study of dynamic optimization problems through the analysis offunctional equationslike value equations.This phrase is normally used, analogously to linear programmingtodescribe the study of discrete problems; e.g. those for which a decision mustbe made at times t for t=1,2,3,...Source: Stokey and Lucas, 1989, p 14Contexts: macro; models; dynamic optimizationdynamical systems:The branch of mathematics describing processes in motion. Some arepredictable and others are not. Two reasons a process might be unpredictableare that it might be random, and it might be chaotic.Source: Devaney, 1992, p 1-2Contexts: mathematics; dynamic optimizationEBIT:Stands for "earnings before interest and taxes" which is used as ameasure of earnings performance of firms that is not clouded by changes indebt or equity types, or tax rules.Contexts: accounting; financeEBITDA:An accounting measure of a private company's overall financial performance ina period of time. Used in the U.S. but may not be used elsewhere [ed.: Idon't know]. Stands for Earnings (or loss) before Interest, Taxes,Depreciation, and Amortization. The figure is in currency units.Source: balance sheetsContexts: accounting; businessEconLit:An electronic bibliography of economics literature organized by the AmericanEconomics Association, derived partly from the Journal of Economic Literature.EconLit is made available through libraries and universities.See http://www.econlit.orgfor moreinformation.Source: http://www.econlib.orgContexts: data; journalseconometric model:An economic model formulated so that its parameters can be estimated if onemakes the assumption that the model is correct.Contexts: estimation; econometricsEconometrica:A journal whose web site is athttp://www.econometricsociety.org/es/journal.html.Contexts: journalseconometrics:Relevant terms: 2SLS,3SLS,acceptance region,adapted,AIC,Akaike's Information Criterion,almost surely,alternative hypothesis,AR,ARIMA,ARMA,asymptotic,asymptotic variance,asymptotically equivalent,asymptotically unbiased,augmented Dickey-Fuller test,autocorrelation,autocovariance,autocovariance matrix,autoregressive process,avar,bandwidth,Bayesian analysis,bias,bootstrapping,Box-Cox transformation,Box-Jenkins,Breusch-Pagan statistic,Burr distribution,BVAR,calibration,Cauchy distribution,cdf,censored dependent variable,characteristic function,Cholesky decomposition,Cholesky factorization,Chow test,CLAD,Cochrane-Orcutt estimation,coefficient of determination,cointegration,condition number,conformable,consistent,control for,convergence in quadratic mean,correlation,covariance stationary,Cowles Commission,Cramer-Rao lower bound,criterion function,critical region,cross-section data,cross-validation,cubic spline,decomposition theorem,delta method,density function,Dickey-Fuller test,discrete choice linear model,discrete choice model,discrete regression models,distribution function,dummy variable,Durbin's h test,Durbin-Watson statistic,dynamic multipliers,econometric model,efficiency,eigenvalue decomposition,Epanechnikov kernel,ergodic,error-correction model,essentially stationary,estimator,exclusion restrictions,expectation,expected value,exponential family,F distribution,F test,FGLS,FIML,Fisher consistency,Fisher information,Fisher transformation,fixed effects estimation,FWL theorem,Gaussian,Gaussian kernel,Gaussian white noise process,generalized linear model,GEV,Gibbs sampler,GLS,GMM,Granger causality,Grenander conditions,Hansen's J test,Hausman test,hedonic,heterogeneous process,heteroscedastic,heteroskedastic,homoscedastic,homoskedastic,Huber standard errors,Huber-White standard errors,idempotent,identification,IIA,iid,ILS,impulse response function,inadmissible,incidental parameters,independent,indicator variable,information matrix,information number,instrumental variables,instruments,integrated,inverse Mills ratio,invertibility,is consistent for,IV,J statistic,jackknife estimator,k-nearest-neighbor estimator,Kalman filter,Kalman gain,kernel estimation,kernel function,kitchen sink regression,KLIC,knots,Kolmogorov's Second Law of Large Numbers,Kronecker product,Kruskal's theorem,kurtosis,LAD,LAN,large sample,likelihood function,limited dependent variable,LIML,Lindeberg-Levy Central Limit Theorem,linear model,linear probability models,linear regression,link function,locally identified,log-concave,log-convex,logistic distribution,logit model,lognormal distribution,loss function,m-estimators,MA,MA(1),main effect,maintained hypothesis,MAR,marginal significance level,martingale,martingale difference sequence,maximum score estimator,mean square error,mean squared error,method of moments,MGF,mixing,MLE,moment-generating function,Monte Carlo simulations,Moore-Penrose inverse,MSE,multinomial,multinomial logit,multinomial probit,multivariate,Nadaraya-Watson estimator,NLLS,noncentral chi-squared distribution,nonergodic,nonparametric estimation,normal distribution,null hypothesis,ocular regression,OLS,omitted variable bias,Op(1),order condition,order of a kernel,order of a sequence,Ox,p value,panel data,parametric,Pareto chart,Pareto distribution,partially linear model,partition,pdf,Phillips-Perron test,polychotomous choice,power,Prais-Winsten transformation,precision,predetermined variables,probability function,probit model,pseudoinverse,Q-statistic,QLR,QML,quartic kernel,quasi-differencing,quasi-maximum likelihood,R-squared,random,random effects estimation,random process,random walk,Rao-Cramer inequality,reduced form,regression function,rejection region,restricted estimate,restriction,Riemann-Stieltjes integral,robust smoother,roughness penalty,Sargan test,scatter diagram,scedastic function,Schwarz Criterion,score,second moment,semi-nonparametric,semilog,sieve estimators,significance,significance level,simultaneous equation system,size,SLLN,SMA,smoothers,smoothing,SNP,sparse,spatial autocorrelation,spectral decomposition,spectrum,spline function,spline regression,spline smoothing,statistic,stochastic,strict stationarity,strictly stationary,strong law of large numbers,strongly consistent,strongly dependent,strongly ergodic,structural break,structural change,structural moving average model,structural parameters,structure,SUR,SURE,survival function,SVAR,symmetric,t distribution,t statistic,test for structural change,test of identifying restrictions,test statistic,time-varying covariates,tobit model,trace,translog,transpose,treatment effects,triangular kernel,truncated dependent variable,Tukey boxplot,two stage least squares,type I error,type I extreme value distribution,type II error,unbalanced data,unbiased,uncorrelated,under the null,uniform kernel,uniform weak law of large numbers,unit root,unit root test,univariate,univariate binary model,unrestricted estimate,UVAR,UWLLN,VAR,variance,variance decomposition,vec,Wallis statistic,wavelet,weak law of large numbers,weak stationarity,weakly consistent,weakly dependent,weakly ergodic,weighted least squares,white noise process,White standard errors,within estimator,WLLN,Wold decomposition,Wold's theorem.Contexts: fieldseconomic discrimination:in labor markets: the presence of different pay for workers of the sameability but who are in different groups, e.g. black, white; male,female.Source: Aigner and Cain, editor's comments, p 175economic environment:In a model, a specification of preferences, technology, and the stochasticprocesses underlying the forcing variables.Source: Hansen and Singleton, 1982Contexts: modelseconomic growth:Paraphrasing directly from Mokyr, 1990: Economic growth has four basiccauses:1) Investment, meaning increases in the capital stock (Solovian growth)2) Increases in trade (Smithian growth)3) Size or scale effects, e.g. by overcoming fixed costs, or achievingspecialization4) Increases in knowledge, most of which is called technological progress(Schumpeterian growth).Further elaboration is in Mokyr's book.Source: Mokyr, 1990, p. 4-6.Contexts: history; macroeconomic sociology:Piore (1996) writes of two definitions of economics, a narrow one organizedaround optimization and a broad one organized around scarcity, and suggeststhat the subjects included by the larger one but not in the smaller one arethe subjects of economic sociology discussed in the Handbook(1994).More specifically, the broad definition of economics is "the study of howpeople employ scarce resources and distribute them over time and amongcompeting demands" paraphrasing Paul Samuelson (1961). The narrowerdefinition is from Gary Becker (1976): "The combined assumptions ofmaximizing behavior, market equilibrium, and stable preferences, usedrelentlessly and unflinchingly . . . [B]ehavior [of] participants who maximizetheir utility from a stable set of preferences and accumulate an optimalamount of information and other inputs in a variety of markets."A bit more specifically -- optimization and formal equilibrium are not naturalsubjects or methods of economic sociology, but the general subjects ofeconomics are. Economic sociology is more likely than economics to use groupsor organizations rather than individuals as units of analysis. The practicaldefinition seems to be evolving over time.Source: Piore, Michael J. "Review of The Handbook of EconomicSociology," Journal of Economic Literature XXXIV (June 1996),pp. 741-754, esp. p 741-2.Samuelson, Paul A. 1961. Economics, an introductory analysis. 5thedition. New York: McGraw-Hill. p. 5.Becker, Gary. 1976. The economic approach to human behavior.Chicago: U. of Chicago Press.Contexts: sociology; fieldseconomies of scale:Usually one says there are economies of scale in production of cost per unitmade declines with the number of units produced. It is a descriptive,quantitative term. One measure of the economies of scale is the cost per unitmade. There can be analosous economies of scale in marketing or distributionof a product or service too. The term may apply only to certain ranges ofoutput quantity.Contexts: production theoryECU:European Currency UnitEditor's comment on time series:A frequent and dangerous mistake for those not familiar with this language isto think that discussion of 'time series' are about data values in a sample.Actually, they are about probability distributions. It has taken this authoryears to get used to that, which may just be normal.An example of the error is to think that a discussion about E[Xt]is testable or measurable. Usually it's not. It's assumed in the discussion.A sample has a computable mean, but whether a time series has a trend,or a unit root, or heteroskedasticity are statements about a conjecturedprocess, not statements about data.With thanks to: P B Meyer, pbmeyer@nwu.edueducation production function:Usually a function mapping quantities of measured inputs to a school andstudent characteristics to some measure of school output, like the test scoresof students from the school.For empirical purposes one might assume this function is linear and generatethe linear regression:Y = X'b + S'c + ewhere Y is a measure of school outputs like a vector of student test scores, Xis a set of measures of student attributes (collectively or individually), Sis vector of measures of schools those students attend, b and c arecoefficients, and e is a disturbanceterm.Source: I am advised that one should look for a survey in the JEL around 1985by Eric Hanushek.Contexts: education; laborEEH:An abbreviation for the journal Explorations in EconomicHistory.Contexts: journalsEER:An abbreviation for European Economic Review.Contexts: journalseffective labor:In the context of a Solow model, if labor time is denoted L and labor'seffectiveness, or knowledge, is A, then by effective labor we mean AL. Ingeneral means 'efficiency units' of labor or 'productive effort' as opposed totime spent.Source: Romer, 1996, p 7Contexts: macroefficiency:Has several meanings. Sometimes used in a theoretical context as a synonymfor Pareto efficiency. Below is the econometric/statisticaldefinition.Efficiency is a criterion by which to compare unbiased estimators. For scalarparameters, one estimator is said to be more efficient than another if thefirst has smaller variance. For multivariate estimators, one estimator issaid to be more efficient than another if the covariance matrix of the secondminus the covariance matrix of the first is a positive semidefinite matrix.Sometimes properties of the most efficient estimator can be computed; seeefficiency bound.Computation of efficiency is defined on the basis of assumed distributions oferrors ('disturbance terms'). It is not calculated directly on the basis ofsample information unless the sample information come from a simulation wherethe actual error distribution was known.Source: Davidson and MacKinnon, 1993, p 95; Greene,1993, p 93Contexts: econometrics; estimation; statisticsefficiency bound:The minimum possible variance for an estimatorgiven the statisticalmodel in which it applies. An estimator which achieves this variance iscalled efficient.Source: Tripathi, 1996, p 4Contexts: econometrics, statisticsefficiency units:Usually interpretable as "output per worker per hour."More generally: An abstract measure of the amount produced for a constantproduction technology by a worker in some time period. Often the context istheoretical and the time period and production technology do not have to bespecified.But efficiency units can be conceived of (and theorized about) as a functionof each worker's characteristics, of the vintage of equipment, of the date inhistory, of the production technology, and so forth.Contexts: labor; macroefficiency wage hypothesis:The hypothesis that workers' productivity depends positively on their wages.(For reasons this might be the case see the entry on efficiencywages.)This could explain why employers in some industries pay workers more thanemployers in other industries do, even if the workers have apparentlycomparable qualifications and jobs. A contrasting explanation is that ofhedonicmodels in which these differentials are explained by qualitydifferences in the jobs.Source: Lawrence F. Katz, "Efficiency Wage Theories: A PartialEvaluation", NBER Macroeconomic Annual 1986, p 235.Contexts: labor; modelsefficiency wages:A higher than market-clearing wage set by employers to, for example:-- discourage shirking by raising the cost of being fired-- encourage worker loyalty-- raise group output norms-- improve the applicant pool-- raise moraleLabor productivity in efficiency wage models is positively related towage.By contrast, consider models in which the wage is equal to labor productivityin equilibrium, or models in which wages are set to reduce the likelihood ofunionization (union threat models). In these, productivity is not a functionof the wage.Contexts: labor; modelsefficient:A description of either:-- an allocation that is Pareto efficientor-- an estimatorthat has the minimum possible variance given thestatistical model; see efficiency bound.Source: Tripathi, 1996, p 4Contexts: econometrics, statisticsefficient markets hypothesis:"A market in which prices always 'fully reflect' available information iscalled 'efficient.'" -- Fama, p. 383Source: "Efficient Capital Markets: a review of theory and empiricalwork" Journal of Finance, 1970, p. 384-417Contexts: financeEGARCH:Exponential GARCH. The EGARCH(p,q) model is attributed to Nelson,(1991).Source: Nelson, 1991Contexts: finance; statisticseigenvalue:An eigenvalue or characteristic root of a square matrix A is a scalar L thatsatisfies the equation:det [ A - LI ] = 0where "det" is the operator that takes a determinantof itsargument, and I is the identity matrixwith the same dimensions asA.Contexts: linear algebraeigenvalue decomposition:Same as spectral decomposition.Source: Greene, 1993, p 34Contexts: econometricseigenvector:For each eigenvalueL of a square matrix A there is an associated righteigenvector, denoted b that has the dimension of the number of rows of A. Theright eigenvector satisfies:Ab = LbContexts: linear algebraEJ:An occasional abbreviation for the British academic journal EconomicJournal.Contexts: journalselasticity:A measure of responsiveness. The responsiveness of behavior measured byvariable Z to a change in environment variable Y is the change in Z observedin response to a change in Y. Specifically, this approximation iscommon:elasticity = (percentage change in Z) / (percentage change in Y)The smaller the percentage change in Y is practical, the better the measure isand the closer it is to the intended theoretically perfect measure.Elasticities are often negative, but are sometimes reported in absolute value(perhaps for brevity) in which case the author is depending on the readerknowing, or quickly applying, some theory. Usually the theory is the theoryof supply and demand.Among the elasticities that show up in the economics literature are:elasticity of quantity demanded of some product in response to a change inprice of that product-- I think this is "elasticity of demand" or "priceelasticityof demand". These are ordinarily negative, and when authorreports a positive figure it is usually just an absolute value. A reader hasto decide whether the true value is negative; hopefully this is obvious.elasticity of supply, which is analogouselasticity of quantity demanded in response to a change in the potentialconsumer's income -- called "income elasticityof demand". These arenormally positive.Inventing another kind of elasticity is plausible. Doing so implies a partialtheory of behavior -- e.g. that Y creates a reason for the agent to changebehavior Z.An elasticity can sometimes be measured in a regression. Dunn (2004)discusses a regression of the log of a son's lifetime earnings on the log ofhis father's lifetime income in a regression:y[son i] = beta*y[father i] + epsilonHere the beta can be called an estimate of the elasticity of the sons'earnings to the fathers' earnings, in the population. Dunn writes, "Viewedacross individuals [beta] is the fraction of the earnings difference betweenfathers that is typically observed between their sons." One might or mightnot want to view this relationship as causal.Source: Dunn, Christopher. Jan 2004. "Intergenerational Transmission ofLifetime Earnings: New Evidence from Brazil". Working paper from Universityof Michigan Departiment of Economics and Population Studies Center.Contexts: micro; macro; measurementelasticity of substitution:As measured in Broda and Weinstein (2005):An elasticity of substitution is a scalar equal to or greater than one whichmeasures the effect on consumption of each of two goods if the price of theother changes. (See elasticityfor a definition of itsmeasurement.)If an elasticity is much larger than one, it suggests the two goods are nearlyinterchangeable; they are close substitutes. If it is near one, they are notclose substitutes, perhaps because they are substantively different, or differgreatly in quality, or (empirically) because goods have been not been actuallyclassified as the econometrician has assumed.Sometimes an elasticity of substitution is assumed in a demand functionwithout being measured, but for purposes of building a theory.Source: Broda and Weinstein. 2005. Globalization and the gains from variety.Aug 2005 working paper. especially circa p.14Contexts: demand; estimationEMA:An occasional abbreviation for the journal Econometrica.Contexts: journalsembedding effect:The tendency of some contingent valuationsurvey responses to besimilar across different survey questions in conflict with theories about whatis valued in the utility function.An example from Diamond and Hausman (1994): A survey might come up with awillingness-to-pay amount that was the same for either (a) one lake or (b)five lakes which include the one that was asked about individually. If lakeshave some utility value to the respondent, one would have expected that fivelakes would be worth more than one. Possibly the difference arises becausethe respondent was not expressing a specific preference for the first lake,and/or was not taking a budget constraint into account. Diamond and Hausmanargue that for this reason among others contingent valuation surveys cannotarrive at good estimates for values of public goods.Source: Kahneman and Knetsch, 1992; Diamond and Hausman,1994Contexts: public financeembodied:An attribute of the way technological progress affects productivity. In Solow(1956), any improvement in technology instantaneously affects the productivityof all factors of production. In Solow (1960) however productivityimprovements were a property of only of new capital investment. In the secondcase we say the technologies are embodied in the new equipment, but in thefirst case they are disembodied.Source: Mortensen, Job Reallocation paper, Feb 1997Contexts: macroemployment-at-will:Describes an employment contract which gives the employer theauthority to end the employment relationship at any time without specificjustification.EMS:European Monetary System -- founded in 1979, its purpose was to reducecurrency fluctuations, and evolved toward offering a common currency.Contexts: organizations; moneyEMU:European Monetary Union.endogenous:A variable is endogenous in a model if it is at least partly function of otherparameters and variables in a model. Contrast exogenous.Contexts: phrasesendogenous growth model:An endogenous growth macro model is one in which the long-run growth rate ofoutput per worker is determined by variables within the model, not anexogenous rate of technological progress as in a neoclassical growthmodellike those following from Ramsey (1928), Solow (1956), Swan (1956),Cass (1965), Koopmans (1965).Influential early endogenous growth models are Romer (1986), Lucas (1988), andRebelo (1991). See the sources for this entry for more information.Hulten (2000) says "What is new in endogenous growth theory is the assumptionthat the marginal product of (generalized) capital is constant, rather thandiminishing as in classical theories." Generalized capital includes theresult of investments in research and development (R&D).Source: Barro and Sala-i-Martin, 1995, pp. 10-12;Romer, 1996, p 100;Hulten, 2000, p 37Contexts: macro; growthendowment:In a general equilibrium model, an individual's endowment is a vector made upof quantities of every possible good that the individual starts outwith.Contexts: general equilibrium; modelsenergy intensity:energy consumption relative to total output (GDP or GNP).Source: Rosenberg, Nathan. 1994. Exploring the Black Box. p 167-8.Engel curve:On a graph with good 1 on the horizontal axis and good 2 on the vertical axis,envision a convex indifference curve, and a diagonal budget constraint thatmeets it at one point. Now move the budget constraint in and out and mark thepoints where the tangencies with indifference curves are. The locus of suchpoints is the Engel curve -- it's the mapping from wealth into the space ofthe two goods. That is, the Engel curve is (x(w), y(w)) where w is wealth andx() and y() are the amounts of each of the goods purchased at those levels ofwealth.Hardle (1990) p 18 defines the Engel curve as the graph of average expenditure(e.g. on food) as a function of income. And on p 118, defines foodexpenditure as a function of total expenditure.The name refers to 19th century Prussian statistician Ernst Engel, accordingto Fogel (1979).Source: Hardle, 1990, p 18, 118R.w. Fogel, "Notes on the social saving controversy," Journal ofEconomic History vol XXXIX, No. 1 (March 1979) page 2.Contexts: modelsEngel effects:Changes in commodity demands by people because their incomes are rising. Ageneralization of Engel's law.Source: Williamson and Lindert, 1980, p 179Contexts: labor; macro; microEngel's law:The observation that "the proportion of a family's budget devoted to fooddeclines as the family's income increases."See also Engel effects.Source: Timmer, Falcon, and Pearson, 1983/1985, p 56Contexts: micro; stylized factsentrenchment:A possible description of the actions of managers of firms. Managers can makeinvestments that are more valuable under themselves than under alternativemanagers. Those investments might not maximize shareholder value. Soshareholders have a moral hazard in contracting with managers.Or, in the phrasing of Weisbach (1988): "Managerial entrenchment occurswhen managers gain so much power that they are able to use the firm to furthertheir own interests rather than the interests of shareholders."The abstract to Shleifer and Vishny, 1989, p 123, is nicelyexplicit: "By making manager-specific investments, managers can reducethe probability of being replaced, extract higher wages and largerperquisities from shareholders, and obtain more latitude in determiningcorporate strategy."Source: Shleifer and Vishny, 1989, p 123; Weisbach,1988; Demsetz, 1983Contexts: corporate finance; theory of the firmEOE:European Options ExchangeContexts: organizationsEpanechnikov kernel:The Epanechnikov kernel is this function: (3/4)(1-u2) for-1>u>1 and zero for u outside that range. Here u=(x-xi)/h,where h is the window width and xi are the values of theindependent variable in the data, and x is the value of the scalar independentvariable for which one seeks an estimate.For kernel estimation.Source: Hardle, 1990Contexts: econometrics; nonparametrics; estimationepistemic:"Of, relating to; or involving knowledge or the act of knowing." Aneconomic theory might take aspects of human understanding or belief asfundamental to economic processes or outcomes.Source: American Heritage Dictionary, 1982, p 460Contexts: micro theory; philosophyepistemology:"1. The division of philosophy that investigates the nature and originof knowledge. 2. A theory of the nature of knowledge."Source: American Heritage Dictionary, 1982, p 460Contexts: philosophyepsilon-equilibrium:(Usually written with a true epsilon character.)In a noncooperative game, for any small positive number epsilon, anepsilon-equilibrium is a profile of totally mixed strategiessuch thateach player gives more probability weight than epsilon only to strategies thatare best responses to the profile of strategies the others are playing.For a more formal definition see sources. This is a rough paraphrase.Source: Pearce, 1984, p 1037Contexts: game theoryepsilon-proper equilibrium:In a noncooperative game, a profile of strategies is an epsilon-properequilibrium if "every player is giving his better responses much moreprobability weight than his worse responses (by a factor 1/epsilon), whetheror not those 'better' responses are 'best'."-- Myerson (1978), p 78.For a more formal definition see sources. This is a rough paraphrase.Source: Myerson, 1978, p 78, as cited by Pearce,1984, p 1037Contexts: game theoryequilibrium:Some balance that can occur in a model, which can represent a prediction ifthe model has a real-world analogue. The standard case is the price-quantitybalance found in a supply and demand model. If the term is not otherwisequalified it often refers to the supply and demand balance.But there also exist Nash equilibriain games, search equilibria insearch models, and so forth.Contexts: modelsequity premium puzzle:Real returns to investors from the purchases of U.S. government bonds havebeen estimated at one percent per year, while real returns from stock("equity") in U.S. companies have been estimated at seven percentper year (Kocherlakota, 1996). General utility-based theories of asset priceshave difficulty explaining (or fitting, empirically) why the first rate is solow and the second rate so high, not only in the U.S. but in other countriestoo. The phrase equity premium puzzle comes from the framing of thisproblem (why is the difference so great?) and the attention focused on it byMehra and Prescott (1985); sometimes the phrase risk free rate puzzleis used to describe the closely related question: why is the bonds rate solow? The problem can be inverted to ask: why do investors not reject thelow-returning bonds in order to buy stocks, which would then raise the priceof stocks and lower their subsequent returns?The above is drawn from the excellent review by Kocherlakota (1996) whichsurveys the substantial literature on this subject. Abbreviating further fromit: the theories against which the evidence constitute a "puzzle"(or paradox, which see) tend to have these aspects in common: (1)standard preferences described by standard utility functions, (2)contractually complete asset markets (against possible time- andstate-of-the-world contingencies), and (3) costless asset trading (in terms oftaxes, trading fees, and presumably information).Overwhelmingly the discussion in the economics literature has focused onexpansions to the formal theory and on refinements and expansions of datasources, rather than survey evidence. A survey of U.S. households wouldanswer (has answered?) the question of why they invest so little instocks.[Editorial comment follows.] It is likely (but this is conjecture) that largefractions of the population do not seriously consider investing in stocks, andare thus not rejecting stocks because their returns are low, but ratherbecause they do not know how and think there are some barriers to learninghow; and/or they perceive the risks of stocks to be higher than they havehistorically been; and/or they believe their savings are insufficient toinvest. These explanations suggest that as stock trading becomes easier (e.g.over the Web, with heavy marketing and easy interfaces) the theories will fitbetter because more of the population will buy stocks. Indeed, this has beenobserved over the last few years. Another class of likely explanations isthat people are highly impatient to spend their income (which would conflictwith standard constant-discount-rate utility functions, but agree with theevidence; see hyperbolic discounting). Seen this way, the puzzle isnot why the evidence looks the way it does, but the hard theoretical problemof getting these factors into the asset pricing models.Source: Kocherlakota, Narayana R. "The equity premium: it's still apuzzle," Journal of Economic Literature vol XXXIV (March 1996), pp42-71.Mehra, Rajnish and Edward C. Prescott. "The equity premium: apuzzle," Journal of Monetary Economics 15(2) (March 1985), pp145-161.Contexts: finance; macro; phrasesergodic:Informally: a stochastic process is ergodic if no sample helps meaningfully topredict values that are very far away in time from that sample. Another wayto say that is that the time path of the stochastic process is not sensitiveto initial conditions.Two events A and B (e.g. possible sets of states of the process) are ergodiciff, taking the limit as h goes to infinity:lim (1/h)SUMfrom i=1to i=h |Pr(A intersection withL-iB)-Pr(A)Pr(B)| = 0Here L is the lag operator. This definition is like that of 'mixingonaverage'. A stochastic process is ergodic, I believe, if all possible eventsin it are ergodic by this definition.If a random process is mixing, it is ergodic.Priestly, p 340: A process is ergodic iff 'time averages' over a singlerealization of the process converge in mean square to the corresponding'ensemble averages' over many realizations.Example 1: Let xt (for integer t=0 to infinity) is known to bedrawn iidfrom a standard normal distribution. Then knowing the valueof x1 doesn't help predict the value of x2, because theyare independently drawn. This time series process is ergodic.Example 2: Suppose the process is xt=k+sin(t)+et wherek is unknown and et is a white noise error. Then any sample ofxt for a known t gives information about k and that is enoughinformation to make predictions at remote times in the future that are just asgood as predictions at nearby times. This process is not ergodic.Contexts: time series; econometricsergodic properties:means persistent propertiesergodic set:In the context of a stochastic processes {xt}, set E is an ergodicset if:(i) it is a subset of the state space S of possible values ofxt,(ii) if xt is in E, then Pr(xt+1 is in E}=1, and(iii) no proper subset of E has the property in (ii).Source: Stokey and Lucas, 1989, p 321Contexts: macro; stochastic processesERISA:The Employee Retirement Income Security Act of 1974, a major U.S. law whichguaranteed certain categories of employees a pension after some period attheir employer; there had been more ambiguity before about what rules anemployer could put on which employees could get a pension. Also ERISA changedthe perceived rules about whether pensions could be invested in venturecapital.Contexts: instititutionserror-correction model:A dynamic model in which "the movement of the variables in any periods isrelated to the previous period's gap from long-runequilibrium."Source: Enders, 1995Contexts: time series; econometrics; modellingessentially stationary:A time series process {xt} is essentially stationary iffE[xt2] is uniformly bounded. (from Wooldridge)This definition may not be standard or widely used.I believe this means that even if the variance wanders around and is differentfor different t, there is a finite bound to those variances. The variance ofthe distribution of xt is never infinite for any t and indeed neverexceeds that finite bound. Thus an ARCH-type process might be essentiallystationary even though its variance is not constant for all t.Note that there are strictly stationaryprocesses that have infinitesecond moments; such processes are not essentially stationary.Source: Wooldridge, 1995, p 2643Contexts: time series; econometrics; statisticsestimation:Relevant terms: 2SLS,3SLS,acceptance region,AIC,alternative hypothesis,aML,average treatment effect,BHHH,bias,bootstrapping,Brent method,Breusch-Pagan statistic,BVAR,calibration,censored dependent variable,Chow test,Cochrane-Orcutt estimation,condition number,consistent,Cook's distance,Cramer-Rao lower bound,criterion function,critical region,cross-section data,cross-validation,cubic spline,discrete choice linear model,discrete choice model,Durbin's h test,Durbin-Watson statistic,econometric model,efficiency,elasticity of substitution,Epanechnikov kernel,estimator,F distribution,F test,FE,FGLS,FIML,Fisher transformation,fixed effects estimation,Gaussian kernel,Granger causality,Hausman test,heteroscedastic,heteroskedastic,Hodrick-Prescott filter,homoscedastic,homoskedastic,Huber standard errors,Huber-White standard errors,ideal,ILS,impulse response function,incidental parameters,indicator variable,instrumental variables,instruments,integrated,IV,jackknife estimator,k-nearest-neighbor estimator,Kalman filter,kernel estimation,kernel function,kitchen sink regression,likelihood function,limited dependent variable,LIML,linear probability models,linear regression,locally identified,logit model,loss function,m-estimators,maintained hypothesis,marginal significance level,maximum score estimator,mean squared error,method of moments,MLE,MSE,Nadaraya-Watson estimator,NLLS,NLREG,noncentral chi-squared distribution,nonparametric estimation,null hypothesis,output elasticity,p value,panel data,parametric,partially linear model,piecewise linear,power,Prais-Winsten transformation,probit model,Q-statistic,QML,quartic kernel,quasi-differencing,quasi-maximum likelihood,random effects estimation,Rao-Cramer inequality,RATS,reduced form,regression function,rejection region,restricted estimate,restriction,ridit scoring,robust smoother,roughness penalty,S-Plus,SAS,scatter diagram,score,SHAZAM,significance,significance level,simulated annealing,simultaneous equation system,size,smoothers,smoothing,Solas,spatial autocorrelation,spline smoothing,Stata,statistic,Statistica,structural parameters,SUDAAN,SUR,SURE,survival function,t distribution,t statistic,test for structural change,test of identifying restrictions,test statistic,time-varying covariates,tobit model,triangular kernel,truncated dependent variable,TSP,two stage least squares,type I error,type II error,unbalanced data,uniform kernel,univariate binary model,unrestricted estimate,UVAR,VAR,variance decomposition,VARs,Wallis statistic,White standard errors,X-11 ARIMA.Contexts: fieldsestimator:A function of data that produces an estimate for an unknown parameter of thedistribution that produced the data.The way estimators are often discussed, they can be thought of as chosenbefore the data are seen. This can be hard to understand for the person newto the term. Properties of estimators (such as unbiasedness in finitesamples, asymptotic unbiasedness, efficiency, and consistency) are discussedwithout considering any particular sample, by making assumptions about thedistribution of the data, and considering the estimator in the context of thedistributions.Contexts: econometrics; estimation; statisticsEuler equation:A first order condition that is across a time or state boundary. (Across astate boundary means a tradeoff between uncertain events.)That is, a first order condition that is a relation between a variable thathas different values in different periods or different states.E.g.kt = b(1+r)kt+1is an Euler equation, but2nt2 - 3kt = 0is not.Contexts: macro; modelsEuler's constant:May refer to either the natural logarithm base e, approximately2.71828, or to the Euler-Mascheroni (sp) constant, which is approximately.57721566.Contexts: mathematicsEurodollar:"Originally, it was a dollar-denominated deposit created either in aEuropean bank or in the European subsidiary of an American bank, usuallylocated in London." Here's why: (1) Americans overseas might want theirdeposits in dollars; (2) the dollar being the most common internationalcurrency, borrowers and lenders internationally may want to make theiraccounts in it; (3) the Eurodollar market was "exempt from reserverequirements and other regulatory costs imposed on domestic American banks.Superior terms in the Eurodollar market attracted American borrowers anddepositors who would have otherwise patronized domestic institutions."An example of such regulation was the US Regulation Q which limited interestbanks could pay.Source: Glasner, p. 162Contexts: money; history; financeEurosclerosis:a name for the 'disease' of rigid, slow-moving labor markets in Europe incontrast to fast-moving markets, e.g. in North America.Contexts: labor; macroeven function:A function f() is even iff f(x)=f(-x).Contexts: real analysisevent studies:Empirical study of prices of an asset just before and after some event, likean announcement, merger, or dividend. Can be used to discuss whether themarket priced the information efficiently, whether there was privateinformation, etc.This method was developed by Fama, Fisher, Jensen, and Roll(1969) according to Weisbach, 1988, p455Contexts: financeevolutionary game theory:Describes game models in which players choose their strategies through atrial-and-error process in which they learn over time that some strategieswork better than others.Source: Attributed to Samuelson, Larry. 1997. Evolutionary Games andEquilibrium Selection.Contexts: game theory; micro theoryex ante:Latin for "beforehand". In models where there is uncertainty thatis resolved during the course of events, the ex antes values (e.g. of expectedgain) are those that are calculated in advance of the resolution ofuncertainty.Contexts: theory; modelsex dividend date:Firms pay dividends to those who are shareholders on a certain date. The nextday is called the ex dividend date. People who own no shares until the exdividend date do not receive the dividend. The price of the stocks is oftenadjusted downward before the start of trading on the ex dividend date becauseto compensate for this.Contexts: finance; businessex post:Latin for "after the fact". In models where there is uncertaintythat is resolved during the course of events, the ex post values (e.g. ofexpected gain) are those that are calculated after the uncertainty has beenresolved.Contexts: theory; modelsexact:excess kurtosis:Sample kurtosis minus 3, which means when 'excess kurtosis' is positive, thereis greater kurtosis than in the normal distribution.Source: Campbell, Lo, and MacKinlay, p 17Contexts: finance; statisticsexcess returns:Asset returns in excess of the risk-free rate. Used especially in the contextof the CAPM. Excess returns are negative in those periods in whichreturns are less than the risk-free rate. Contrast abnormalreturns.Contexts: financeexclusion restrictions:In a simultaneous equation system -- that some of the exogenous variables arenot in some of the equations; often this idea is expressed by saying thecoefficient next to that exogenous variable is zero. This way of putting itmay make this restriction (hypothesis) testable, and may make a simultaneousequation system identified.Contexts: econometricsexclusive dealing:A requirement in a contract that the buyer will only buy goods of a certaintype from the stated seller.Source: lectures and handouts of Michael Whinston at Northwestern U inEconomics D50, Winter 1998Contexts: IO; antitrust; regulationExecuComp:data set from Standard and Poors on compensation to American corporateexecutives, including stock and options ownership.Contexts: data; financeexistence value:The value that individuals may attach to the mere knowledge of the existenceof something, as opposed to having direct use of that thing. Synonymous withnonuse value.For example, knowledge of the existence of rare and diverse species and uniquenatural environments may have value to environmentalists who do not actuallysee them.Source: Portney, 1994; Krutilla,1967Contexts: public financeexogenous:A variable is exogenous to a model if it is not determined by other parametersand variables in the model, but is set externally and any changes to it comefrom external forces. Contrast endogenous.Contexts: phrasesexpectation:There are several, overlapping definitions:1) The mean of a probability distribution. If the probability distributionfunction is F(x) then the mean would be calculated by integrating dF(x) overthe domain of the probability distribution function. The expectationoperator, E[], is a linear operatorper Hogg and Craig,1995, page 55.2) In a model, the agents may have to anticipate the value of variables whoserealizations may occur in the future. The values they anticipate are oftencalled their expectations. The agents may generalize only from pastrealizations in a way that we can call "adaptive expectations" orthey may have other information from which they hypothesize a distributionfrom which the realization will be drawn. From such a distribution they cancalculate the mean value, and variance, and so forth. This process is one of"rational expectations."---Note: the notation Ex[] means the expectation of the expressiontaken over the random variable X. The result of the expression could still bea random variable if there are other random variables in theexpression.Contexts: probability; econometrics; macroexpected utility hypothesis:That the utility of an agent facing uncertainty is calculated by consideringutility in each possible state and constructing a weighted average, where theweights are the agent's estimate of the probability of each state.Arrow, 1963 attributes to Daniel Bernoulli (1738) theearliest known written statement of this hypothesis.Source: Arrow, 1963Contexts: modelling; utility theoryexpected value:The expected value of a random variable is the mean of its distribution.In its technical use this word does not have exactly the same meaning as inordinary English. For example, people buying a lottery ticket that has a1/10,000 chance of paying $10,000 can expect to get zero since that isoverwhelmingly the likely outcome. They can be certain they won't get $1.But the expected value of their winnings is $1.Having said this, it is a standard implementation of 'rational expectations'to assume that agents behave in response to the expected values of thedistributions they face.Contexts: econometrics; statisticsexpenditure function:e(p,u) -- the minimum income necessary for a consumer to achieve utility levelu given a vector of prices for goods p. (The consumer is presumed to getutility from the goods.)Source: Varian, 1992experience:In the context of studies of employees, length of time employed anywhere.Sometimes narrowed to include only length of time employed in relevant jobs.Contrast tenure.Contexts: labor; corporate financeexponential distribution:A particular function form for a continuous distribution with parameter k, ascalar real greater than zero. Has pdf f(x)=ke-kx.The mean is E[x]=1/k, and variance var(x)=1/k2. Moment-generatingfunction is (1-kt)-1.Contexts: statisticsexponential family:A distribution is a member of the exponential family of distributions if itslog-likelihood function can be written in the form below.ln L(q | X) = a(X) + b(q) + c1(X)s1(q)+ c2(X)s2(q) + . . .+ cK(X)sK(q)where a(), b(), and cj() and sj() for each j=1 to K arefunctions; q is the vector of all parameters; X isthe matrix of observable data; and L() is the likelihood function as definedby the maximum likelihoodprocedure.The members of the exponential family vary from each other in a(), b(), andthe cj()s and sj()s. Most common named distributionsare members of the exponential family.Quoting from Greene, 1997, page 149: "If thelog-likelihood function is of this form, then the functions cj()are called sufficient statistics[and] the method ofmomentsestimators(s) will be functions of them," Those estimatorswill be the maximum likelihood estimators which are asymptotically efficienthere.Source: Greene, 1997Contexts: statistics; econometricsexponential utility:A particular functional form for the utility function. Some versions of itare used often in finance.Here is the simplest version. Define U() as the utility function and w aswealth. a is a positive scalar parameter.U(w) = -e-awis the exponential utility function.Now consider events over time. An agent might have a utility functionmapping possible streams of consumption into utility values. Here is one waythis is often parameterized:Define (b) as a constant discount rate known to theagent. It's a scalar that is between zero and one, and usually thought of asnear one.Define t as a time subscript that starts at zero and increases over theintegers, either to some fixed T or to infinity.Define c(t) as the amount the agent gets to consume at each t, and {c(t)} asthe series of consumptions for all relevant t. c(t) is random here. its valueis not known but its distribution is assumed known to the agent.Let E[] be the expectations operator that takes means ofdistributions.Using this notation a common dynamic version of exponential utility is:u({ct} = the sum over all t of (b)tE[-e-ac(t)]Whether this utility function describes observed investment decisions isdiscussable and testable. It is not often discussed, however. If clearinformation on that becomes known to this author, it will be added here.Most uses of the exponential utility function in finance are driven by theseaspects: (a) its analytic tractability; e.g. that it can be differentiatedwith respect to choice variables that affect future wealth w or consumptionc(t); (b) for some applications it aggregates usefully, meaning that if everyagent has this exact utility function and they can buy securities then arepresentative agent can be defined which also has this analyticallyconvenient form and for whom the securities prices would be the same. It'sconvenient for computing securities prices in some abstract economies to usethat representative agent. There are "no wealth effects" -- that is, theamount of risky securities that the agent wants to hold is not a function ofhis own wealth, as long as he can borrow infinitely (which is often assumedfor tractability in these models.)Source: Huang and Litzenberger, 1988Contexts: modelling; financeextended reals:Or, extendend real numbers, or extended real line. The set of reals plus theelements (infinity) and (minus infinity). Addition and multiplication cangenerally be extended to this set; see Royden, p. 36Source: Royden, p. 36Contexts: real analysisextensive margin:Refers to the range to which a class of resources is allocated to a productionprocess.Example: the number of employees an employer has.Contrast intensive margin.Contexts: micro; laborexternality:An effect of a purchase or use decision by one set of parties on others whodid not have a choice and whose interests were not taken into account.Classic example of a negative externality: pollution, generated by someproductive enterprise, and affecting others who had no choice and wereprobably not taken nto account.Example of a positive externality: Purchase a car of a certain model increasesdemand and thus availability for mechanics who know that kind of car, whichimproves the situation for others owning that model.F distribution:The F distribution is defined in terms of two independent chi-squaredvariables. Let u and v be independently distributed chi-squared variableswith u1 and v1 degrees of freedom, respectively.Then the statistic: F=(u/u1)/(v/v1) has an Fdistribution with (u1,v1) degrees of freedom.As can be computed from the definition of the t distribution, the square of at statistic may be written:t2=(z2/1)/(v/v1), where z2, beingthe square of a standard normal variable, has a chi-squared distribution.Thus the square of a t variable with v1 degrees of freedom is an F variablewith (1,v1) degrees of freedom, that is:t2=F(1,v1).Source: Johnston, p 530-1Contexts: econometrics; statistics; estimationF test:Normally a test for the joint hypothesis that a number of coefficients arezero. Large values (greater than two?) generally reject the hypothesis,depending on the level of significance required.Contexts: estimation; econometricsf.o.b.:Indicates which services come with a price. Stands for "free on board."Describes a price which includes goods plus the services of loading thosegoods onto some vehicle or vessel at a named location, sometimes put inparentheses after the f.o.b.Source: William P. Rogers. 1978. The Coal Primer.factor analysis:An approach to finding what mixture of underlying variables produces most ofthe variation in the dependent variable.For a more complete discussion seehttp://www.statsoftinc.com/textbook/stfacan.htmlfactor loadings:"A security's factor loadings are the slopes in a multiple regression ofits return on the factors."Source: Fama 1991 p 1594Contexts: financefactor price equalization:An effect observed in models of international trade -- that the prices ofinputs to ("factors of") production in different countries, likewages, are driven towards equality in the absence of barriers to trade. Thishappens among other reasons because price incentives cause countries to chooseto specialize in the production of goods whose factors of production areabundant there, which raises the prices of the factors towards equality withthe prices in countries where those factors are not abundant. Shocks tofactor availability in a country would cause only a temporary departure fromfactor price equality.The basic theorem of this kind is attributed to Samuelson (1948) by Hanson andSlaughter (1999) who also cite Blackorby, Schworm, and Venables (1993).The context of the theorem is a Heckscher-Ohlin model.Source: Hanson, Gordon H., and Matthew J. Slaughter, "The Rybczinskitheorem,factor-price equalization, and immigration: evidence from U.S. states,"NBER working paper 7074, April 1999. On Web at http://www.nber.org/papers/w7074Samuelson, Paul A. 1948. "International trade and the equalization offactor prices." Economic Journal 48: 163-184.Blackorby, Charles, William Schworm, and Anthony Venables. 1993."Necessary and sufficient conditions for factor price-equalization."Review of Economic Studies 60: 413-434.Contexts: trade; internationalfactory system:The production process of having many manufacturing steps done together in aebig building, not spread out in many places.Background: The making of manufactured articles like clothing in Britainbefore 1800 was done in a distributed way, with goods shipped around a lotbetween houses and other places for the next step in the processing to getdone. Increasingly it became more common to have building with all theworkers together, not at home, but rather a workplace where the many stepscould be done in the same space. This had several effects that raisedefficiency, meaning it produced more output per a given set of inputs:(a) it reduced transportation costs, and(b) it made hierarchical or mutual monitoring of the workers easier, and(c) it allowed quicker responsive adaptation when the situation changed (e.g.someone was sick or a machine broke down or a new machine came in).Among the effects of the rise of the factory system was that more peoplecommuted from home to work. They had a separate workplace.Contexts: history; productionfads:The conjecture that market prices for securities take long swings away fromtheir fundamental values and tend to return to them.In a time series of data this suggests that "the market price differsfrom the fundamental price by a highly serially correlated fad.".This formulation attributed to Shiller(1981, 1994), Summers (1986) and Poterbaand Summers (1988) by Bollerslev and Hodrick (1992) p. 13.Source: Bollerslev and Hodrick (1992), p 13-14.Contexts: financefair trader:Contrasted with free trader, a holder of the the point of view thatone's country's government must prevent foreign companies from havingartificial advantages over domestic ones.The term dates at least as far back as 1886 Britain, where tariffs wererecommended by one point of view expressed in a Royal Commission report "notto countervail any natural and legitimate advantage which foreignmanufacturers may possess, but simply to prevent our own industries beingplaced at an artificial disadvantage by the interference of either home orforeign legislation...." (Carr and Taplin, p 122)Source: Carr, J.C., and W. Taplin, assisted by A.E.G. Wright. 1962.History of the British Steel Industry. Oxford: Basil Blackwell.Contexts: political economy; tradeFama-MacBeth regression:A panel study of stocks to estimate CAPM or APT parametersContexts: financefamily:two or more persons related by blood, marriage, or adoption, and residingtogether.Source: Census Bureau, cited in Glen Cain's 1976 Handbook articleContexts: labor; sociologyFASB:Financial Accounting Standards Board, which sets accounting rules for the US.(public? private?)Contexts: accounting; corporate finance; datafat-tailed:describes a distribution with excess kurtosis.Contexts: finance; statisticsFatou's lemma:Let {Xn} for n=1,2,3,... be a sequence of nonnegative real randomvariables.Then lim infn-<infinity E[Xn] ≥ E[liminfn-<infinity Xn].Source: Durrett, 1996, p 16Contexts: probabilityFCLT:stands for 'functional central limit theorem', and is synonymous withDonsker's theorem.Briefly: if {et} is a series of independent and mean zero randomvariables, partial sums (from 1 to T) of the e's converge to a standardBrownian motion process on [0,1] as T goes to infinity. See other sources fora proper formal statement.Source: Richardson and Stock (1989)Contexts: time seriesFDI:Foreign Direct Investment, a component of a country's national financialaccounts. Foreign direct investment is investment of foreign assets intodomestic structures, equipment, and organizations. It does not includeforeign investment into the stock markets. Foreign direct investment isthought to be more useful to a country than investments in the equity of itscompanies because equity investments are potentially "hot money"which can leave at the first sign of trouble, whereas FDI is durable andgenerally useful whether things go well or badly.Contexts: accounting; macroFE:stands for Fixed Effects estimator. That is, a linear regression in whichcertain kinds of differences are subtracted out so that one can estimate theeffects of another kind of difference.Contexts: estimationFed Funds Rate:The interest rate at which U.S. banks lend to one another their excessreserves held on deposit at the U.S. Federal Reserve.Contexts: money; banking; institutionsFGLS:Feasible GLS. That is, the generalized least squares estimation procedure(see GLS), but with an estimated covariance matrix, not an assumedone.Contexts: econometrics; estimationfiat money:is intrinsically useless; is used only as a medium of exchange.Contexts: money; macrofields:Most terms are in one of these categories. You can click on one to see a listof terms relevant to it.Relevant terms: agricultural economics,business,cliometrics,data,development,dynamic optimization,econometrics,economic sociology,estimation,finance,game theory,general equilibrium,history,information,IO,journals,labor,linear algebra,macro,measure theory,models,organizations,phrases,probability,public finance,real analysis,statistics,stylized facts,time series,transition economics.filter:A filter is a way of treating or adjusting data before it is analyzed.Examples are the Hodrick-Prescott filteror Kalman filter.More exactly, a filter is an algorithm or mathematical operation that isapplied to a time series sample to get another sample, often called the'filtered' data. For example a filter might remove some high-frequencyeffects from the data; or detrend it; or remove seasonal frequencies but leavemonthly frequencies in.Contexts: time series; dataFIML:Full Information Maximum Likelihood, an approach to the estimation ofsimultaneous equations.As portrayed in Johnston's book: Define A as the matrix of coefficients inthe multiple-equation model, u as the vector of residuals for each choice ofA, and s as the covariance matrix E(uu'). FIMLconsists of maximizing ln(L(A, s)) with respect tothe elements of A and s.Source: Johnston p 490-492Contexts: econometrics; estimationfinance:The study of securities, borrowing, and ownership.Relevant terms: abnormal returns,absolute risk aversion,AGI,Annuity formula,APT,ARCH,Arrow-Pratt measure,asset pricing models,asset-pricing function,basis point,Black-Scholes equation,bubble,call option,capital structure,CAPM,CAR,CARs,CCAPM,CDE,certainty equivalence principle,certainty equivalent,CES utility,coefficient of absolute risk aversion,coefficient of relative risk aversion,commercial paper,complete market,Compustat,conditional,conditional variance,conglomerate,consumption beta,contingent valuation,coupon strip,CRRA,CRSP,deep,delta,depth,derivatives,discount rate,EBIT,efficient markets hypothesis,EGARCH,embedding effect,entrenchment,equity premium puzzle,Eurodollar,event studies,ex dividend date,excess kurtosis,excess returns,ExecuComp,existence value,experience,exponential utility,factor loadings,fads,Fama-MacBeth regression,FASB,fat-tailed,firm,Fisherian criterion,Freddie Mac,free cash flow,gamma (of options),GARCH,generalized Wiener process,GMM,Gordon model,hold-up problem,ICAPM,IGARCH,Ito process,Jensen's inequality,JF,JFE,LBO,Lerman ratio,leverage ratio,liquid,Ljung-Box test,log utility,Lucas critique,market capitalization,market for corporate control,market price of risk,MBO,Modigliani-Miller theorem,NASDAQ,no-arbitrage bounds,noise trader,nonuse value,NPV,NYSE,option,par,PDV,portmanteau test,precautionary savings,principal strip,pro forma,put option,put-call parity,Q ratio,quasi rents,rents,residual claimant,resiliency,risk free rate puzzle,Roll critique,SCF,semi-strong form,senior,Sharpe ratio,short rate,stable distributions,state price,state price vector,straddle,strip financing,strips,strong form,submartingale,subordinated,Survey of Consumer Finances,team production,tenure,term spreads,theta,tightness,Tobin tax,variance ratio statistic,vega,volatility clustering,weak form,white noise process.Contexts: fieldsFIPS:Federal Information Processing Standards. These are encodings defined by theU.S. government and used to encode some data (like states and counties) inU.S. data sets. Listings can be found at the NIST FIPS site.Source: NIST FIPS web siteContexts: data; organizationsfirm:Defined by Alchian and Demsetz (1972) this way: "The essence of theclassical firm is identified here as a contractual structure with: 1) jointinput production [see team production]; 2) several input owners [e.g.the workers]; 3) one party [the firm or its owners] who is common to all thecontracts of the joint inputs; 4) who has rights to renegotiate anyinput's contract independently of contracts with other input owners; 5) whoholds the residual claim; and 6) who has the right to sell his centralcontractual residual status. The central agent is call the firm's owner andthe employer. No authoritarian control is involved; the arrangement issimply a contractual structure subject to continuous renegotiation withthe central agent. The contractual structure arises as a means of enhancingefficient organization of team production."----------a firm is a hierarchical organization attempting to make profits.Source: Alchian and Demsetz, 1972, p 794Contexts: theory of the firm; IO; corporate financeFirst Welfare Theorem:The statement that a Walrasian equilibriumis weakly Paretooptimal. Such a theorem is true in a large and important class of generalequilibrium models (usually staticones). The standard case is ifevery agent has a positive quantity of every good, and every agent has autility function that is convex, continuous, and strictly increasing, the thenthe First Welfare Theorem holds.Contexts: general equilibrium; modelsfirst-order stochastic dominance:Usually means stochastic dominance.fiscalist view:An extreme Keynesian view, that money doesn't matter at all as aggregatedemand policy. Assumes that investment demand does not respond to interestrate changes. Relevant only in depression conditions (Branson, p386).Source: BransonContexts: macroFisher consistency:This is a necessary condition for maximum likelihood estimation to beconsistent. Maximizing the likelihood function L gives an estimate forparameter b that is Fisher-consistent if:E[d(ln L)/db]=0 at b=b0, where b0 is the true value ofb.Another interpretation or phrasing: "An estimation procedure is Fisherconsistent if the parameters of interest solve the population analog of theestimation problem." (Wooldridge).Source: Wooldridge, 1995, p 2648.Contexts: econometricsFisher effect:That in a model where inflation is expected to be steady, the nominal interestrate changes one-for-one with the inflation rate; see Fisher equation.The empirical analogy is the Fisher hypothesis.Contexts: macro; moneyFisher equation:nominal rate of interest = real rate of interest + inflationContexts: macro; moneyFisher hypothesis:That the real rate of interest is constant. So the nominal rate moves withinflation.The real rate of interest would be determined by the time preferences of thepublic and technological constraints determining the return on realinvestment.Source: G. Thomas Woodward, Review of Economics and Statistics, 1992, p315Contexts: macro; moneyFisher Ideal Index:The "geometric mean of the fixed-weighted Paascheand Laspeyresindexes." Proposed as a price index by Irving Fisher in 1922. This is asuperlativeindex number formula. -- Triplett, 1992.Source: Triplett, 1992, p. 50Contexts: index theory; macro; pricesFisher index:A price index, computed for a given period by taking the square root ofthe product of the the Paasche indexvalue and the Laspeyresindexvalue.Source:http://www.geocities.com/jeab_cu/paper2/paper2.htm;Gordon, 1990, p. 5Contexts: index numbersFisher information:The Fisher information is an attribute or property of a distribution withknown form but uncertain parameter values. It is only well-defined fordistributions satisfying certain assumptions. It is a (k x k) matrix, where kis the number of elements in a vector of parameters b. Thus, forparameter b of pdf f(x):I(b)=E{ [f'(x)/f(x)]2 | b}That's from DeGroot. I think this is the same as in Greene p 96:I(b)=E[{d/db(ln L(b))}2]=-E[d2/db2(ln L(b))]If the Fisher information is 'large' then the estimated distribution willchange radically as new data (x) are incorporated into the estimate of thedistribution by maximum likelihood.The Fisher information is the main ingredient in the Cramer-Rao lowerbound, and in some maximum likelihood estimators.Source: DeGroot; Greene, 1993, p 96Contexts: econometricsFisher transformation:Hypotheses about the value of r, the correlationcoefficient between variables x and y of the underlying population, can betested using the Fisher transformation of a sample's correlation coefficientr. Let N be the sample's size.This transformation is defined by:z = 0.5 * ln ( (1+r)/(1-r) )z is approximately normally distributed with mean r, and standard error 1/((N-3)^0.5).This is a common way of testing whether a correlation coefficient issignificantly different from 0, and hence ascribing a p-value.------[Editor: We suspect that for x and y bivariate normal the distribution worksexactly in all sample sizes, otherwise only asymptotically.][See Kennedy, p 369. Bickel and Dobson, "Mathematical Statistics: Basic Ideasand selected topics" page 221 also gives derivation, but makes no mention ofany distribution requirements.]Source: stephenb@nwu.eduWith thanks to: Stephen Brown (as of 4/25/99: stephenb@nwu.edu)Contexts: estimation; econometricsFisherian criterion:for optimal investment by a firm -- that it should invest in real assets untiltheir marginal internal rate of return equals the appropriately risk-adjustedrate of return on securitiesSource: Miller and Rock, Journal of Finance Sept 1985, p. 1032Contexts: models; financefixed effects estimation:A method of estimating parameters from a panel dataset. The fixedeffects estimator is obtained by OLS on the deviations from the means of eachunit or time period. This approach is relevant when one expects that theaverages of the dependent variable will be different for each cross-sectionunit, or each time period, but the variance of the errors will not. In such acase random effects estimation would give inconsistent estimates of b in themodel: y = Xb + eThe fixed effects estimator is: (X'QX)-1X'Qywhere Q is the matrix that "partials out" the averages from thegroups that have different variances.Example: Define L as IN x 1T, where x is the Kroneckercross product operator, T is the number of time periods, and N is the numberof cross-section units (individuals, say). Now individual effects can bescreened out by premultiplying the model's equation by Q and running OLS, orequivalently using the estimator equation above. Thus estimating b.Contexts: econometrics; estimationflexible-accelerator model:A macro model in which there is a variable relationship between the growthrate of out put and the level of net investment. The relation between thechange in output and the level of net investment is the acceleratorprinciple.Source: Branson, Ch 13Contexts: macrofob:An occasional compressed form of f.o.b..Folk theorem:The theorem is that a Nash equilibrium exists in repeated gamesinwhich sufficiently patient players to reach Pareto optimalpayoffs in aNash equilibrium.(Fudenberg and Tirole, p 150, describes the achievable payoffs as theindividually rational ones, not the Pareto optimal ones.)The strategies that achieve this often have the pattern that they 'punish'the other player at length for any defection from the Pareto optimal choice.In equilibrium that encourages the other player not to defect for a shortterm gain.Source: Fudenberg and Tirole, _Game Theory_Contexts: game theoryFrechet derivative:Informally: A derivative (slope) defined for mappings from one vector spaceto another.The first e in Frechet should have an accent aigu.Formally (this taken more or less directly from Tripathi, 1996):Let T be a transformation defined on an open domain U in anormed space X and mapping to a range in a normed space Y.(Does normed space mean normed vector space? Or might it not?)Holding fixed an x in U and for each h in X, if alinear and continuous operator L (mapping from X to Y)exists such that:lim||h|| falls to 0(1/||h||) * (||T(x+h)-T(x)-L(h)||) = 0Then the operator L, often denoted T'(x), is the Frechetderivative of T() and we can say T is Frechetdifferentiableat x.(Ed.: I believe any such L is unique.)Source: Tripathi, 1996, p 7Contexts: mathematics; real analysisFrechet differentiable:Informally: A possible property of mappings from one space to another. Forsuch a transformation, a Frechet derivativemay exist at each point andif so we say the transformation is Frechet differentiable at thatpoint.Properly the first e in Frechet should have an accent aigu.See the entry at Frechet derivativefor a formal definition.Source: Tripathi, 1996, p 7Contexts: mathematics; real analysisFreddie Mac:Shorthand for U.S. Federal Home Loan Mortgage Corporation.Contexts: data; financefree cash flow:cash flow to a firm in excess of that required to fund all projects that havepositive net present values when discounted at the relevant cost ofcapital.Free cash flow can be a source of principal-agent conflict betweenshareholders and managers, since shareholders would probably want it paid outin some form to them, and managers might want to control it, e.g. to use itfor unprofitable projects, for perquisites, to make acquisitions, to createjobs for friends and allies, and so forth. A possible partial solution to theconflict for the shareholders is for the company to have heavy debts on whichfrequent, heavy payments are due. Those payments keep the managers focused ondelivering consistent revenues and clear out the extra cash.Source: Jensen (86)Contexts: micro; financefree entry condition:An assumption posited in a search and matching model of a market. Theassumption is that there is no institutional constraint on firms entering themarket (e.g. to hire workers). There is no fixed number of firms. The numberof firms is determined in equilibrium, by the costs of starting up.Contexts: macro; laborfree reserves:excess reserves minus borrowed reserves (Branson, p 353).Source: Branson, p 353Contexts: moneyfree trader:Holder of the political point of view that the best policy is to allow freetrade into one's own country.Contexts: political economy; tradefrequency function:The frequency function is the probability of drawing each particular valuefrom a discrete distribution: p(x) = Pr(X=x).Here X is the random variable and x is one of its possible values.Contexts: statisticsfrictional unemployment:Unemployment that comes from people moving between jobs, careers, andlocations. Contrast structural unemployment.Source: Baumol & BlinderContexts: labor; macroFriedman rule:In a cash-in-advancemodel of a monetary system, the Friedman rule formonetary policy is to deflate so that it is not costly to those who have moneyto continue to hold it. Then the cash-in-advance constraint isn't binding onthem.Contexts: moneyFTC:Abbreviaton for the U.S. national Federal Trade Commission, which rules insome circumstances on some antitrust regulations. See alsoFTC.Contexts: IO; regulation; antitrustFTC Act:A 1914 U.S. law creating a regulatory body for antitrust, pricediscrimination, and regulation. Section five says "Unfair methods ofcompetition in or affecting commerce, and unfair or deceptive acts orpractices in or affecting commerce, are hereby declaredunlawful."Source: lectures and handouts of Michael Whinston at Northwestern U inEconomics D50, Winter 1998Contexts: IO; antitrust; regulationfunctional:a mapping from paths of functions to the reals (e.g. a value function definedby a mapping from possible paths of choices)Contexts: real analysisfunctional equation:an equation where the unknown is a function. Example: a value function is thesolution to the equation that sets the value function equal to the presentdiscounted value of the current period's utility and the discounted valuefunction of next period's state.Source: Stokey and Lucas, 1989, p 14Contexts: macro; modelsfungible:"Being of such a nature or kind that one unit or part may be exchanged orsubstituted for another unit or equal part to discharge anobligation."Examples: money or grain. Not examples: works of art.Source: American Heritage Dictionary, 1982Contexts: moneyfuture-oriented:A future-oriented agent discounts the future lightly and so has a LOW discountrate, or equivalently a HIGh discount factor. See alsopresent-oriented, discount rate, and discountfactor.Contexts: modelsFWL theorem:Given a statistical model y = X1b1 +X2b2+ ewherey is a vector of values of a dependent variable,the X's arelinearly independent matrices of predetermined variables, and the e's areerrors, we could premultiply the equation byM1=I-X1(X1'X1)-1X'which projects vectors in the space spanned by X1 to zero, and runOLS on the resulting equation M1y =M1X2b2+ M1eand (the theorem says) would get exactly the same estimate of b2that OLS on the first equation would have given.This use of premultiplying is used in the derivation of many estimators:notably IV estimators and FE estimators.Contexts: econometricsgame:A game is a model with (1) players who make (2) strategy (or action)choices in a (3) predefined time order, and then (4) receive payoffs, whichare usually conceived of in money or utility terms. Classic games are thePrisoner's Dilemma,Matching Pennies,the Battle of the Sexes,the dictator game,the ultimatum game,the Bertrand game,and the Cournot game.Contexts: game theory; modelsgame theory:Relevant terms: Bertrand competition,Bertrand game,bounded rationality,cooperative game,Cournot game,decision rule,dictator game,dynamic inconsistency,epsilon-equilibrium,epsilon-proper equilibrium,evolutionary game theory,Folk theorem,game,implementable,implicit contract,interim efficient,Markov perfect,Markov strategy,Matching Pennies,mechanism design,Nash equilibrium,Nash product,Nash strategy,NBS,NE,noncooperative game,normal form,payoff matrix,PBE,perfect Bayesian equilibrium,perfect equilibrium,principal-agent,principal-agent problem,Prisoner's Dilemma,proper equilibrium,rationalizable,screening game,sharing rule,signaling game,solution concept,SPE,strategic form,strategy-proof,subgame perfect equilibrium,tit-for-tat,totally mixed strategy,trembling hand perfect equilibrium,ultimatum game,winner's curse,zero-sum game.Contexts: fieldsgamma (of options):As used with respect to options: The rate of change of the portfolio'sdeltawith respect to the price of the underlying asset. Formally thisis a partial derivative.A portfolio is gamma-neutral if it has zero gamma.Source: Hull, 1997, p 323Contexts: financegamma distribution:A distribution relevant to, for example, waiting times. Expression of its pdfrequires reference to the gamma functionwhich will be called GAMMA(a)here.(When HTML supports math a better display will be possible.)The gamma distribution's pdfhas parameters a<0 and b<0, andGAMMA(a) is also greater than zero. The support is on x<0:f(x)=[xa-1e-x/b]/[GAMMA(a)ba]Source: Hogg and Craig, 1995, p 132Contexts: statisticsgamma function:A function of a real a<0. It is the integral over y from zero toinfinity of ya-1e-y dy. This integral is the gammafunction of a, GAMMA(a). (When HTML supports math a better display will bepossible.) The gamma distributionis a function that includes thegamma function.Source: Hogg and Craig, 1995, p 131Contexts: statisticsGARCH:Generalized ARCH. First paper may have been Bollerslev, 1986, Journal ofEconometricsSource: Bollerslev, 1986, Journal of EconometricsContexts: finance; statisticsGARP:abbreviation for the Generalized Axioms of Revealed Preference.Source: Varian, 1992Contexts: modelsGauss:A matrix programming language and programming environment. Made by Aptech.Contexts: data; simulationGaussian:an adjective that describes a random variable, meaning it has anormal distribution.Contexts: statistics; econometricsGaussian kernel:The Gaussian kernel is this function:(2PI)-.5exp(-u2/2). Here u=(x-xi)/h, where his the window width and xi are the values of the independentvariable in the data, and x is the value of the independent variable for whichone seeks an estimate. Unlike most kernel functions this one is unbounded onx; so every data point will be brought into every estimate in theory, althoughoutside three standard deviations they make hardly any difference.For kernel estimation.Source: Hardle, 1990Contexts: econometrics; nonparametrics; estimationGaussian white noise process:A white noiseprocess with a normal distribution.Contexts: models; statistics; econometrics; time seriesGDP:Gross domestic product. For a region, the GDP is "the market value ofall the goods and services produced by labor and property located in" theregion, usually a country. It equals GNPminus the net inflow of laborand property incomes from broad. -- Survey of Current BusinessA key example helps. A Japanese-owned automobile factory in the US counts inUS GDP but in Japanese GNP."GDP can be calculated from output statistics, income statistics or as the sumof private expenditures, public expenditures and net exports." (Bohlin,2003). Measured output from one sector that immediately became an input intoanother productive sector is not supposed to count; one subtracts them out, toget only the value-added by each productive sector.Source: Survey of Current Business;Bohlin, Jan. "Swedish historical national accounts: The fifthgeneration." European Review of Economic History, 7:1 (April, 2003):73-97.Contexts: macro; governmentGDP deflator:A measure of the cost of goods purchased by U.S. households, government, andindustry. Differs conceptually from the CPImeasure of inflation, butnot by much in practice.Contexts: macro; labor; dataGEB:An abbreviation for the journal Games and Economic Behavior.Contexts: journalsgeneral equilibrium:Relevant terms: budget set,clears,consumption set,contract curve,core,demand set,endowment,First Welfare Theorem,government failure,individually rational,locally nonsatiated,market failure,netput,offer curve,Pareto set,production set,real externality,Second Welfare Theorem,social planner,SPO,strongly Pareto Optimal,subdifferential,Walrasian equilibrium,Walrasian model,WE,weakly Pareto Optimal,WPO.Contexts: fieldsgeneralized linear model:A model of the form y=g(b'x) where y is a vectorof dependent variables, x is a column vector of independent variables,b' is a row vector of parameters (that is, b is not a function of x)and g() is a possibly random function called a link function.Examples: linear regression (y=b'x+errs) and logistic regressiony=1/(1+e-x)+errs.An example that is not in the class of generalized linear models is:y=x1*x2.Source: Rabe-Hesketh, Sophia, and Brian Everitt. 1999. A Handbook ofStatistical Analyses using Stata. Chapman & Hall / CRC. pp 91-93.Contexts: econometricsGeneralized Method of Moments:See GMM.generalized Ozaki cost function:This is a very general form of cost function defined by Nakamura (1990), p.650, citing earlier work by Ozaki. Nakamura's article details itsmany virtues, one of which is that homotheticityis not imposed --that is, if the optimal use of inputs is not the same at different scalesof output, this function can express that. (The mainline case of this iswhen there is a fixed input requirement at the beginning, or the inputcomes in indivisible chunks.)Equation (3) in that article defines the cost function which is displayedhere as best this editor can do it. The Generalized-Ozaki cost function'sexpression for the cost of producing output y, at date t, given a vector ofm input prices p[] which are indexed by i=1 to m, is:c(p,y,t) = Si biiybyiexp(btit)pi +Sij bij(pipj).5ybyexp(btt)[your editor's comments, clarifications, and interpretations follow,with imperfectly suppressed frustration.]The notation is murderously difficult here. I do not fully understandit but can clarify some things. First, any element with a 'b' in it is aparameter that could be estimated. In particular:(a) 'byi' is meant to look like byi, but neither html (apparently)nor even the 1990 Review of Economics and Statistics could putsubscripts in a superscript. (TeX can, so one might be wise to use that,if jumping off this particular ledge.)One worries, though: how many parameters does byi represent? m, I think.The y is hard-coded, doesn't index. And I goes from 1 to m. In Nakamura'sexample, m=3, by the way. So perhaps m is never meant to be big.(b) Analogously, 'by' represents by, which is probably a scalarparameter. Probably bt is also a scalar.bti is probably an m-vector collectively calledbt.And bij and bii could be combined in a m x m matrix.(c) exp(z) means the constant e taken to the power of z. Expressing thisas ez would have been nice but the typeface is already crackingunder the strain.(d) The notation Sij is not obvious.( means not-equal here; the original article has a nice not-equals sign.)I'd guess it means the same asSi=1m{Sj=1,ijm (expression)}I grasp that's not transparent either. But the index variable is ambiguousin the original expression. It's possible that we were supposed to thinkthe second S was part of the first (thoughparentheses would have been required to make that clear) and that theindex variable on the second S wasj.Source: Nakamura, Shinichiro. 1990. "A nonhomothetic generalizedLeontief cost function based on pooled data". Review of Economics andStatistics 72:4 (Nov, 1990), 649-656.http://links.jstor.org/sici?sici=0034-6535%28199011%2972%3A4%3C649%3AANGLCF%3E2.0.CO%3B2-0Ozaki, Iwao, "Economics of Scale and Input Output Coefficients," in A. Carterand A. Brody (eds.) Applications of Input Output Analysis (Amsterdam:1969), North-Holland, 280-302.Ozaki, Iwao, "The Effects of Technological Change on the Economic Growth ofJapan," in K. Polenske and J. Skolka (eds.) Advances in Input OutputAnalysis (Cambridge, MA: 1976), Ballinger, 93-111.Contexts: production theorygeneralized Tobit:Synonym for Heckit.generalized Wiener process:A continuous-time random walkwith a drift and random jumps at everypoint in time (roughly speaking). Algebraically:a(x,t)dt + b(x,t)c(dt).5describes a generalized Wiener process, where:a and b are deterministic functionst is a continuous index for timex is a set of exogenous variables that may change with timedt is a differential in timec is a random draw from a standard normal distribution at eachinstantSource: Hull, 1997Contexts: time series; finance; statistics; modelsgenerator function:in a dynamical system, the generator function maps the old state Ntinto new state Nt+1E.g. Nt+1 = F(Nt).A steady state would be an N* such that F(N*) =N*.Source: J. Montgomery, social networks paperContexts: macrogeometric mean:Geometric mean is a kind of average of a set of numbers that is different fromthe arithmetic average. The geometric mean is well defined only for sets ofpositive real numbers.Geometric mean of A and B is the square root of (A*B).The geometric mean of A, B, and C is the cube root of (A*B*C).And so forth.Contrast this to the arithmetic means, which are .5*(A+B) and.333*(A+B+C).GEV:abbrevation for Generalized Extreme Value distribution. The differencebetween two draws of GEV type 1 variables has a logistic distribution, whichis why a GEV distribution for errors gets assumed in certain binaryeconometric models.Contexts: statistics; econometricsGGH preferences:Refers to a paper by Greenwood, Hercowitz, and Huffman (1988) with utilityfunctions across agents and across time by:u(Cit, Nit) = Cit -Nitbwhere a<0 and b<1 are constants, and Cit and Nitstand for consumption and hours worked by each agent i at date t.-- this utility function has Gorman form and so it aggregates-- it has been successful at matching cross-section data relative to otherfunctions that do.Source: Greenwood, J., Z. Hercowitz, and G. Huffman, (1988), "Investment,Capacity Utilization, and the Real Business Cycles", AER, 78402-417.Contexts: models; macroGibbs sampler:A way to generate empirical distributions of two variables from a model. Saythe model defines probability distributions F(X|Y) and G(Y|X). Then startwith a random set of possible X's, draw Y's from G(), then use those Y's todraw X's, and so on indefinitely. Keep track of the X's and Y's seen, andthis will give samples enough to find the unconditional distributions of X andY.Source: talk by Moshe Buchinsky at Northwestern 10/29/1996 regarding researchof his with Phillip LeslieContexts: econometrics; simulationGibrat's law:A descriptive relationship between size and growth -- that the size of unitsand their growth percentage statistics are statistically independent.Sometimes Gibrat's law is thought to apply to large firms, and sometimes tocities (Gabaix, May 1999 American Economic Review, page 130).Gini coefficient:This is another name for the Gini index. This editor prefers"Gini index" because the word "coefficient" implies thatthe number's meaning depends on multiplying it by something, or that it cameout of a regression.Gini index:A number between zero and one that is a measure of inequality. An example isthe concentration of suppliers in a market or industry.The Gini index is the ratio of the area under the Lorenz curve to the areaunder the diagonal on a graph of the Lorenz curve, which is 5000 if both axeshave percentage units. The meaning of the Gini index: if the suppliers in amarket have near-equal market share, the Gini index is near zero. If most ofthe suppliers have very low market share but there exist one or a few suppliesproviding most of the market share then the Gini index is near one.In labor economics, inequality of the wage distribution can be discussed interms of a Gini index, where the wages of subgroups are fractions of the totalwage bill.The Gini index is sometimes called the Gini coefficient.Source: Greer, 1992, p 174Contexts: IO; laborGlass-Steagall Act:A 1933 United States national law separating investment banking and commercialbanking firms. Also prohibited banks from owning corporate stock. It wasdesigned to confront the problem that banks in the Great Depression collapsedbecause they held a lot of stock.Source: Glasner, p 198Contexts: history; IOGLS:Generalized Least Squares. A generalization of the OLS procedure to make anefficient linear regression estimate of a parameter from a sample in which thedisturbances are heteroskedastic. That is, iny = Xb + e (equation 1)that the e's vary in magnitude with the X's.The estimator of b is: (X'O-1X)-1X'O-1y(equation 2)where O, standing for omega, is the covariance matrix. (As you see in theestimator, the covariance matrix is assumed to be invertible.)The procedure to derive this is to multiply through the first equation by thesquare root of the inverse of the covariance matrix (which assumed to beknown; if it estimated, one calls this procedure FGLS, for feasible GLS.)Then take OLS of the resulting equation.Contexts: econometricsGMM:Stands for Generalized Method of Moments, an econometric framework of Hansen,1982. It is an approach to estimating parameters in an economic model fromdata. Used often to figure out what standard errors on parameter estimatesshould be.Source: Hansen, 1982Contexts: econometrics; macro; financeGNP:Gross national product. The GDP is "the market value of all the goodsand services producted by labor and property belonging to the region, usuallya country. It equals GDPplus the net inflow of labor and propertyincomes from broad. A Japanese-owned automobile factory in the US counts inUS GDP but in Japanese GNP.Source: Survey of Current BusinessContexts: macroGolden Rule capital rate:f'(k*)=(1+n) where k* is optimal capital stock, f() isthe aggregate production function, and n is population growth rate. f(k)-k isconsumed by the population. 'Golden Rule' may refer to a Solow fairytale.Contexts: macrogood:A good is a desired commodity.goodwill:The accounting term to describe the premium that acquiring companies pay overthe book value of the firm being acquired. Goodwill can include value for R&Dand trademarks.Contexts: accountingGordon model:Of a stock price. From M. R. Gordon (1962). This model is sometimes used asa baseline for comparison or for intuition.Assume a constant rate of return r, and a constant dividend growth rate g.Define Pt to be the price of the stock in period t, andDt to be its dividend in period t. Implication is that price ofstock Pt = Dt/(r-g).Source: Bollerslev-Hodrick 1992; Gordon 1962 ref'd directly thereContexts: financeGorman form:A utility function or indirect utility function is in Gorman form if it isaffinewith respect to some argument. Which argument should be clearfrom context. E.g.:Ui(xi, z) = A(z)xi + Bi(z)Here the utility Ui for individual i is is affine in argumentxi.A critical implication is that the sum of Gorman form utility functions forindividuals is a well-defined aggregate utility function under someconditions.Source: Varian, 1992Contexts: models; utilitygovernment failure:A situation, usually discussed in a model not in the real world, in which thebehavior of optimizing agents in a market with a government would not producea Pareto optimalallocation. The point is not that a particulargovernment had, or would have, failed at something, but that the problemabstractly put cannot be perfectly solved by the government. The most commonsource of government failures in models is private information among theagents.Contexts: general equilibrium; publicGranger causality:Informally, if one time series helps predict another, we can say it Grangercauses the other. The original definition, for linear predictors, is inGranger, 1980.From Sargent: A stochastic process zt is said NOT to Granger-causea random process xt if E(xt+1 |xt,xt-1,...,zt,zt-1,...) =E(xt+1 | xt,xt-1,...)*** NOTE in J Pehkonen, Applied Economics, 1991, 23, 1559-1568, p.1560.*** Expert treatment of this subject and more formal, less ambiguousdefinitions are in Chamberlain, Econometrica, May 82Source: Sargent, 1987, Ch 3Contexts: econometrics; time series; estimationGrenander conditions:Conditions on the regressors under which the OLSestimator will beconsistent.The Grenander conditions are weaker than the assumption on the regressor Xthat limn-<infinity(X'X)/n is a fixed positive definite matrix,which is a common starting assumption.See Greene, 2nd ed, 1993, p 295.Source: Greene, 1993Contexts: econometricsGresham's Law:Some version of "Bad money will drive out good."I think the context is that if there are two suppliers of the same money (e.g.if one of them is a counterfeiter) or of two monies with a fixed exchange ratebetween them (per Hayek, Denationalization of Money, 1976 p. 39), there willbe a tendency for overproduction and that the actual money stock will be madeup of the bad, or less valuable, one. (Another situation is if one suppliermakes coins that are 90% gold and the other has the option of making coinswith less gold, Bertrand competition for coins would drive the gold fractiondown over time.)Contexts: moneyGSOEP:German Socio-Economic Panel.A German government database going back to at least 1984.Contexts: data; laborH index:Stands for Herfindahl-Hirschman index, which is a way of measuring theconcentration of market share held by particular suppliers in a market. It isthe sum of squares of the percentages of the market shares held by the firmsin a market. If there is a monopoly -- one firm with all sales, the H indexis 10000. If there is perfect competition, with an infinite number of firmswith near-zero market share each, the H index is approximately zero. Otherindustry structures will have H indices between zero and 10000.Tirole's version is bounded between zero and one because each of the marketshares is between zero and one.Source: Greer, 1992, p 177; Tirole, _The Theory ofIndustrial Organization_Contexts: IOHabakkuk thesis:That high wages and labor scarcity stimulated technological progress in theU.S. in the 1800s, and in particular brought about the American system ofmanufacturing based on interchangeable parts.(This description from Mokyr, 1990; idea from Habakkuk, 1962).Source: Mokyr, 1990, p 165; Habakkuk, 1962, American andBritish Technology in the Nineteenth CenturyContexts: historyHahn problem:Hahn (1965) question: when does there exist an equilibrium in a model in whichmoney has positive value?Contexts: money; modelsHansen's J test:See J statisticSource: Ogaki, 1993Contexts: econometricsHarrod-neutral:The effect on a production function description of certain kinds of technicalchange. Harrod-neutrl is a synonym for labor-augmenting, in practice.Uzawa (1961), pp. 117-8, has perhaps the earliest use, which cites 1937 and1948 works of Harrod for the idea.Source: Romer, 1996, p 7, and in the bibliography whereHarrod's works are cited directly.Hamermesh, 1993,1996, p 349Uzawa, H. "Neutral Inventions and the Stability of Growth Equilibrium."The Review of Economic Studies 28:2 (Feb., 1961), 117-124.JSTOR link to Uzawa (1961)Contexts: macro; technology; productionHausman test:Given a model and data in which fixed effects estimation would be appropriate,a Hausman test tests whether random effects estimation would be almost asgood. In a fixed-effects kind of case, the Hausman test is a test ofH0: that random effects would be consistent and efficient, versusH1: that random effects would be inconsistent. (Note that fixedeffects would certainly be consistent.) The result of the test is a vector ofdimension k (dim(b)) which will be distributedchi-square(k). So if the Hausman test statistic is large, one must use FE.If the statistic is small, one may get away with RE.Contexts: econometrics; estimationhazard rate:escape rate; rate of transition out of current stateHeaviside function:Is a mapping from the real line to {0, 1}, denoted (at least sometimes) hv(x).hv(x) is zero for x=0.Source: Cox and Hinkley (1974, 1995), p 167Contexts: statisticsHeckit:An occasional name for generalized Tobit. This approach allows adifferent set of explanatory variables to predict the binary choice from thosewhich predict the continuous choice. (The data environment is one in whichthe continuous choice is measured only when the binary choice is nonzero --e.g., if we have data on people, whether they bought a car, and how expensiveit was, we can estimate a statistical model of how expensive a car otherpeople would buy, but only on the basis of the ones who did buy a car in thedata sample.) A regular, non-generalized Tobit constrains the two sets ofvariables to be the same, and the signs of their effects to be the same in thetwo estimated equations. 'Heck' is for James Heckman.-- Christopher Baum, Boston College economics department, 20 May 2000, in abroadcast to the statalist, the email list of people interested in thesoftware Stata.Heckman two-step estimation:A way of estimating treatment effectswhen the treated sample isself-selected and so the effects of the treatment are confounded with thepopulation that chose it because they expected it would help -- the classicexample is that college educations may be selected by those most likely tobenefit.Taking that example, we wish to advance past the following regression:wi = a + bXi + dCi + eiwhere i indexes people, wi is the wage (or other outcome variable)for agent i, Xi are variables predicting i's wage, andCi is 1 if i went to college and 0 if not. ei is theremaining error after least squares estimation of a, b, and d.Source: Greene, 1997; James Heckman, "Sampleselection bias as specification error", Econometrica, 47, 1979, pp153-161.Heckscher-Ohlin model:A model of the effects of international trade. "The Heckscher-Ohlinframework typically is presented as a two-country, two-good, two-factor model.The two countries are assumed to share identical, homothetic tastes for thetwo substitutable goods and identical, constant-returns-to-scale technologieswith some factor substitutability. Perfect competition prevails in eachmarket with zero transport costs and no artificial barriers to internationaltrade in goods, although factors are internationally immobile. In thisframework, each country will (incompletely) specialize in production andexport the good using intensively in production the factor that the countryhas in relative abundance." That effect is called factor-priceequalizationacross countries, and is used sometimes to explain how risinginternational trade would lead to greater income inequality in the mostdeveloped countries. (from Bergstrand, Cosimano, Houck, and Sheehan,1994, p 3)The reference in the name is to "Scandinavian economists Eli Heckscherand Bertil Ohlin early in [the twentieth century]" in work that is rarelycited directly. (from Bluestone, 1994, p 336).Contexts: trade; internationalhedonic:of or relating to utility. (Literally, pleasure-related.) A hedoniceconometric model is one where the independent variables measure attributes ofwhat is to be exchanged; e.g. various qualities of a product that one mightbuy or of a job one might take. The measured qualities form a bundle ofattributes which are combined in the resulting product. Each attribute can bethought of as affecting the price, either independently or in particularcombinations with other attributes, and these effects can beestimated.A hedonic model of wages might correspond to the idea that there arecompensating differentials -- that workers would get higher wages for jobsthat were more unpleasant."A product that meets several needs, or has a variety of features ...generates a number of hedonic services. Each one of these services can bethought of as generating its own demand, along with a resulting hedonic price.Although each separate component is not observable, the aggregation of all thecomponents results in the observed product demand and equilibrium price....[Q]uality improvements will appear to an observer as an outward shift of theproduct demand curve, as consumers are willing to purchase more at theprevailing price." -- William J. White, "A Hedonic Index of FarmTractor Prices: 1910-1955", Ohio State University working paper, October1998, pp. 3-4.Contexts: econometricshelp:A list of fields contained here is below. There is some other advice at thishelp page: http://econterms.com/help.htmlMost terms are in one of these categories. You can click on one to see a listof terms relevant to it.Relevant terms: agricultural economics,business,cliometrics,data,development,dynamic optimization,econometrics,economic sociology,estimation,finance,game theory,general equilibrium,history,information,IO,journals,labor,linear algebra,macro,measure theory,models,organizations,phrases,probability,public finance,real analysis,statistics,stylized facts,time series,transition economics.Herfindahl-Hirschman index:See 'H index'.Contexts: IOHermite polynomials:The Hermite polynomials are a series of polynomials defined for each naturalnumber r, used for statistical approximations I believe. Click here for the equation and graphs of the firstseveral.Contexts: statisticsHessian:The matrix of second derivatives of a multivariate function. That is, thegradient of the gradient of a function. Properties of the Hessian matrix atan optimum of differentiable function are relevant in many places ineconomics:1) In maximum likelihood estimation, the information matrix is (-1) times theHessian.Contexts: optimization; linear algebraheterogeneous process:A stochastic processis heterogeneous if it is not identicallydistributed every period.Contexts: time series; econometrics; statisticsheteroscedastic:An alternate spelling of heteroskedastic. McCulloch (1985) argues thatthe spelling with the k is preferred, on the basis of the pronunciation andetymology (Greek not French derivation) of the term.Source: J. Huston McCulloch. 1985. "On heteros*edasticity"Econometrica 53:2 (March, 1985), p 483.With thanks to: Shazamweb site which cited McCullochContexts: econometrics; estimationheteroskedastic:An adjective describing a data sample or data-generating process in which theerrors are drawn from different distributions for different values of theindependent variables.Most commonly this takes the form of changes in variance with the magnitude ofX. That is, iny = Xb + ethat the e's vary in magnitude with the X's. (An example is that variance ofincome across individuals is systematically higher for higher incomeindividuals.)If the errors are drawn from different distributions, or if higher moments ofthe error distributions vary systematically, these are also forms ofheteroskedasticity.Contexts: econometrics; estimationHicks-Kaldor criterion:For whether a cost-benefit analysis supports a public project. The criterionis that the gainers from the project could in principle compensate the losers.That is, that total gains from the project exceed the losses. The criteriondoes not go so far as the Pareto criterion, according to which the gainerswould in fact have to compensate the losers.Source: Layard and Glaister, p 6Contexts: publicHicks-neutral:An attribute of an effectiveness variable in a production function. Theattribute is that it does not affect labor differently from the way it affectscapital.The canonical example is the Solow modelproduction function Y=AF(K,L).There Y is output, L labor, K capital, F a production variable, and Arepresents some kinds of effectiveness variable. In Y=F(AK,L) theeffectiveness variable affects capital but not labor. In Y=F(K,AL) it affectslabor but not capital. These two cases can be described as Hicks-biased. InY=AF(K,L) it is Hicks-neutral.Source: Romer, 1996, p 7, Hulten,2000Contexts: macroHicks-neutral technical change:Given a production function AF(K,L) changes in A are Hicks-neutral, meaningthat they do not affect the optimal choice of K or L. The subject comes up inpractice only for aggregate production functions.Uzawa, H. "Neutral Inventions and the Stability of Growth Equilibrium,"The Review of Economic Studies 28:2 (Feb., 1961), 117-124contains the first known published use of the adjective 'Harrod neutral'According to it, the criterion of Harrod-neutrality comes fromHarrod, Roy F., "Review of Joan Robinson's Essays in the Theory ofEmployment," Economic Journal, vol. 47 (1937), 326-330.Uzawa also proves that AF(K,L) and F(K,AL) are the right functional forms tomeet Hicks and Harrod-neutrality, and that only the Cobb-Douglas formaccomplishes both.Contexts: models; macroHicksian demand function:h(p,u) -- the amount of a good that demanded by a consumer given that it costsp per unit and that the consumer will have utility u from all goods. h(p,u)is the cost-minimizing amount.Source: Varian, 1992Contexts: microHigh School and Beyond:A panel dataset on U.S. high school students.Contexts: datahigh-powered money:reserves plus currencySource: BransonContexts: moneyHilbert space:A complete normed metric space with an inner product. So the Hilbert spacesare also Banach spaces. L2 is an example of a Hilbert space. AnyRn with n finite is another.Source: Royden p. 245Contexts: real analysishistory:The subject of economic history is anything in history that is subject toeconomic explanations. Application of formal theory or statistical analysisof data may be relevant, although it is possible to make a contributionwithout either, e.g. with a case study or a contextual reinterpretation.Historians tend to be focused on what happened, how, and why, not on thequestion of whether a model fits the evidence.Relevant terms: bank note,bill of exchange,Bretton Woods system,climacteric,cliometrics,dominant design,economic growth,Eurodollar,factory system,Glass-Steagall Act,Habakkuk thesis,Industrial Revolution,industrialization,institution,mass production,modernization,morbidity,mortality,natural experiment,new institutionalism,path dependence,path dependency,real bills doctrine,Regulation Q,Robinson-Patman Act,Schumpeterian growth,shakeout,Smithian growth,Solovian growth,specie,welfare capitalism.Contexts: fieldsHLM:Statistical software for Hierarchical Linear Modeling, fromScientific SoftwareInternational.Contexts: softwareHodrick-Prescott filter:Algorithm for choosing smoothed values for a time series. The H-P filterchooses smooth values {st} for the series {xt} of Telements (t=1 to T) that solve the following minimization problem:min { {(xt-st)2 ... etc. }Parameter l<0 is the penalty on variation, wherevariation is measured by the average squared second difference. A largervalue of l makes the resulting {st}series smoother; less high-frequency noise. The commonly applied value ofl is 1600.For the study of business cycles one uses not the smoothed series, but thejagged series of residuals from it. See Cooley, 1995, p27-29. That H-P filtered data shows less fluctuation than first-differenceddata, since the H-P filter pays less attention to high frequency movements.H-P filtered data also shows more serial correlation than first-differenceddata. For l=1600: "if the series werestationary, then [this choice] would eliminate fluctuations at frequencieslower than about thirty-two quarters, or eight years."Contexts: macro; estimationhold-up problem:One of a certain class of contracting problems.Imagine a situation where there is profit to be made if agents A and B worktogether, so they consider an agreement to do so after A buys the necessaryequipment. The hold-up problem (in this context) is A might not be willing totake that agreement, even though the outcome would be Pareto efficient,because after A has made that investment, B would have the power might decideto demand a larger share of the profits than before, since A is now deeplyinvested in the project but B is not, so B has some bargaining power thatwasn't there before the investment. B could demand all of the profits, infact, since A's alternative is to lose the investment entirely.Other hold-up problems are analogous to this one.Contexts: theory of the firm; corporate financeHolder continuous:An attribute of a function g:Rd-<R. g can besaid to be Holder continuous if there exist constants C and 0>=E>=1 suchthat for all u and v in Rd:|g(u)-g(v)| >= C||u-v||ESo if g is Holder continuous for C=1 then it is Lipschitz continuous?And if g is Holder continuous then it is continuous.Source: Hardle, 1990Contexts: real analysis;nonparametricshomoscedastic:An alternate spelling of homoskedastic. McCulloch (1985) argues thatthe spelling with the k is preferred, on the basis of the pronunciation andetymology (Greek not French derivation) of the term.Source: J. Huston McCulloch. 1985. "On heteros*edasticity"Econometrica 53:2 (March, 1985), p 483.With thanks to: Shazamweb site which cited McCullochContexts: econometrics; estimationhomoskedastic:An adjective describing a statistical model in which the errors are drawn fromthe same distribution for all values of the independent variables. Contrastheteroskedastic.This is a strong assumption, and includes in particular the assumption in alinear regression, for example,y = Xb + ethat the variance of the e's is the same for all X's.(The observed variance will differ in almost any sample. But if one believesthat the data-generating process does not in principle have greater variancesfor different values of the independent variable, one would describe thesample as homoskedastic anyway.)Contexts: econometrics; estimationhomothetic:Let u(x) be a function homogeneous of degree one in x. Let g(y) be a functionof one argument that is monotonically increasing in y.Then u(g()) is a homothetic function of y.So a function is homothetic in y if it can be decomposed into an innerfunction that is monotonically increasing in y and an outer function that ishomogeneous of degree one in its argument.In consumer theory there are some useful analytic results that can come fromstuding homothetic utility functions of consumption.Contexts: micro theory.HRS:Health and Retirement Study, a longitudinal panel of older Americans studiedby the Survey Research Center at the University of Michigan. Their Web siteis athttp://www.umich.edu/~hrswww.Contexts: laborHSB:High School and Beyond, a panel dataset on U.S. high schoolstudents.Contexts: dataHuber standard errors:Same as Huber-White standard errors.Contexts: econometrics; statistics; estimationHuber-White standard errors:Standard errors which have been adjusted for specified assumed-and-estimatedcorrelations of error terms across observations.The implicit citations are to Huber, 1967, White,1980, and White, 1982.Contexts: econometrics; statistics; estimationhuman capital:The attributes of a person that are productive in some economic context.Often refers to formal educational attainment, with the implication thateducation is investmentwhose returns are in the form of wage, salary,or other compensation. These are normally measured and conceived of asprivate returns to the individual but can also be social returns."'Human capital' was invented by the economist Theodore Schultz in 1960 torefer to all those human capacities, developed by education, that can be usedproductively -- the capacity to deal in abstractions, to recognize and adhereto rules, to use language at a high level. Human capital, like other forms ofcapital, accumulates over generations; it is a thing that parents 'give' totheir children through their upbringing, and that children then successfullydeploy in school, allowing them to bequeath more human capital to their ownchildren." -- Traub (2000)Source: Traub, James. The New York Times. January 16, 2000. Sunday,Late Edition, final. Article in section 6, starting page 52, column 1,Magazine Desk.With thanks to: Isaac McFarlin for finding this definitionhyperbolic discounting:A way of accounting in a model for the difference in the preferences an agenthas over consumption now versus consumption in the future.For a and g scalar real parameters greater than zero, under hyperbolicdiscounting events t periods in the future are discounted by the factor(1+at)(-g/a).That expression describes the "class of generalized hyperbolas".This formulation comes from a 1999 working paper of C. Harris and D. Laibson,which cites Ainslie (1992) and Loewenstein and Prelec (1992).In dynamic models it is common to use the more convenient assumption thatagents have a common discount rate applying for any t-period forecast,starting now or starting in the future. Hyperbolic discounting is lessconvenient but fits the psychological evidence better, and when contrasted tothe constant-discount-rate assumption can get models to fit the noticeablefall in consumption that U.S. workers are observed to experience when theyretire. In a constant-discount-rate model the worker would usually haveforecast the fall in income and their consumption expenses would besmooth.One reason hyperbolic preferences are less convenient in a model is not onlythat there are more parameters but that the agent's decisions are nottime-consistentas they are with a constant discount rate. That is,when planning for time two (two periods ahead) the agent might prepare forwhat looks like the optimal consumption path as seen from time zero; but attime two his preferences would be different.Contrast quasi-hyperbolicdiscounting.Source: "Dynamic choices of hyperbolic consumers"", working paper byChristopher Harris and David Laibson.Contexts: models; macro; dynamic optimizationhysteresis:a hypothesized property of unemployment rates -- that there is a ratchetingeffect, so a short-term rise in unemployment rates tends to persist.Theories that would lead to hysteresis:-- an insider/outsider model of decisionmaking about employment; insiders suchas the unionized workers ratchet up wage rates beyond where it is profitableto hire the unemployed; outsiders who are unemployed don't get to be part ofthe negotiation process.-- behavioral and human capital changes among the unemployed, such asforgetting the details of work or work behavior, or losing interest or skillin getting new jobs, could lead to declining chances of becomingemployed.Source: Blank, "Changes in Inequality and unemployment over the1980s", J Population Economics, 1995 8:1-21 pg 5Contexts: macro; labor; modelsI(0):A stochastic process, say {yt}, is I(0), or "integratedof order zero"l, if it is covariance stationary. ContrastI(1).Source: HamiltonContexts: time series; stochastic processesI(1):A stochastic process, say {yt}, is I(1), or "integratedof order zero"l, if it is not covariance stationarybut theseries created by taking the first differences of yt's elements(e.g. xt = yt - yt-1) is covariancestationary.Source: HamiltonContexts: time series; stochastic processesIARA:increasing absolute risk aversionIC constraint:IC stands for "incentive compatible".When solving a principal-agent maximization problem for a contract that meetsvarious criteria, the IC constraints are those that require agents toprefer to act in accordance with the solution. If the IC constraintwere not imposed, the solution to the problem might be economicallymeaningless, insofar as it produced an outcome that met some criterion ofoptimality but which an agent would choose not to act in accord with.See also IR constraint.Contexts: principal-agent problems; micro theory; modelsICAPM:Intertemporal CAPM. From Merton, 1973.Source: Campbell, Lo, and MacKinlay 1996, pp 219-221;Merton, 1973Contexts: financeideal:Broda and Weinstein (2005) write: "As explained in Sato (1976), a price indexP that is dual to a quantum index, Q, in the sense that PQ=E and shares andidentical weighting formula with Q is defined as 'ideal'. Fischer (1922) wasthe first to use the term ideal to characterize a price index. He noted thatthe geometric mean of the Paasche and Laspayres indices is ideal."E there probably stands for expenditure.Quantum probably means quantity.Laspayres is the same as Laspeyres.[Ed: I infer that the Paasche and Laspeyres indexes are not themselvesideal.]Source: Broda and Weinstein. 2005. Globalization and the gains from variety.Aug 2005 working paper. especially circa p.14;Diewert, W. Erwin. 1976. Exact and Superlative Index Numbers. Journal ofEconometrics. pp. 115-145.Sato, Kazuo. 1976. The ideal log-change index number. Review of Economicsand Statistics. pp. 223-8.Vartia, Yrjo. 1976. Ideal log-change index numbers. Scandinavian Journal ofStatistics. pp. 121-126.Contexts: demand; estimationidempotent:A matrix M is idempotent if MM=M. (M times M equals M.)Example: the identity matrix, denoted I.Contexts: econometrics; linear algebraidentification:A parameter in a model is identified if and only if complete knowledge of thejoint distribution of the observed variables would be enough information tocalculate the parameter exactly.If the model has been written in such a way that its parameters can beconsistently estimated from the observables, then the parameters areidentified. There exist cases (mostly obscure) where parameters areidentified but consistent estimators are not possible, as shown inthis discussiondrawn from the elegant paper ofGabrielsen (1978).A model is identified if there is no observationally equivalent model. Thatis, potentially observable random variables in the model have differentdistributions for different values of the parameter.Formally:Let h* be a vector of unknown functions and distributions in aneconometric model.Let H denote a set which h* is known to belong. H is defined bythe model's restrictions.Let P(h) denote the joint distribution of observable variables of the modelfor various elements of h in H. The distribution for the actual data will beassumed to be P(h*).Now, vector h* is identified within H if for all h in H such thath><h* it is true that P(h)><P(h*).Note: Linear models are either globally identified or there are an infinitenumber of observably equivalent ones. But for models that are nonlinear inparameters, "we can only talk about local properties." Thus theidea of locally identifiedmodels, which can be distinguished in datafrom any other 'close by' model."An identification problem occurs when a specifed set of assumptionscombined with unlimited observations drawn by a specified sampling processdoes not reveal a distribution of interest." -- Manski, Charles F."Identification problems and decisions under ambiguity: empiricalanalysis of treatment response and normative analysis of treatmentchoice" Northwestern University Department of Economics and Institute forPolicy Research, September 1998, p. 2Source: The New Palgrave: Econometrics, p 96; and Gabrielsen,1978Contexts: econometricsidentity matrix:An identity matrix is a square matrix of any dimension whose elements are oneson its northwest-to-southeast diagonal and zeroes everywhere else. Any squarematrix multiplied by the identity matrix with those dimensions equals itself.One usually says 'the' identity matrix since in most contexts the dimension isunambiguous. It is standard to denote the identity matrix by I.Contexts: linear algebraidle:Sometimes used to name the state of people who are not in school but also notworking. Context is usually industrialized countries with established labormarkets, and the idle are often poor.Contexts: labor; povertyIER:An abbreviation for the journal International Economic Review.Contexts: journalsiff:abbreviation for "if and only if"Contexts: mathIGARCH:Integrated GARCH, a kind of econometric model of a stochastic processin which there is a unit root in a GARCH environment.The IGARCH(p,q) process was proposed in Engle and Bollerslev (1986).Source: EB86Contexts: financeIIA:stands for Irrelevance of Independent Alternatives, an assumption in a model.In a discrete choice setting, the multinomial logit model is appropriate onlyif the introduction or removal of a choice has no effect on the proportion ofprobability assigned to each of the other choices.This is a strong assumption; a standard example where IIA is not anappropriate assumption is if one compares a model of transportation choicesbetween a car and a red bus, then introduces a blue bus. The blue bus isfunctionally like the red bus, so presumably its introduction draws ridershipmore heavily from the red bus than from the car.Contexts: models; econometricsiid:An abbreviation for "independently and identically distributed."One would say this about two or more random variables to describe their jointdistribution. A common use is to describe ongoing disturbances to astochastic process, indicating that they are not correlated to oneanother.Contexts: statistics; econometricsIJIO:An occasional abbreviation for the academic journal International Journalof Industrial Organization.Contexts: journalsILS:Indirect Least Squares, an approach to the estimation of simultaneousequations models. Steps:1) Rearrange the structural form equations into reduced form2) Estimate the reduced form parameters3) Solve for the structural form parameters in terms of the reduced formparameters, and substitute in the estimates of the reduced form parameters toget estimates for the structural ones.Contexts: econometrics; estimationIMF:International Monetary Fund -- an international organization which makes loansto maintain financial stability. The IMF makes loans to governments not toother institutions [ed.: as far as I know]. The IMF's objectives have to dowith minimizing the damage of financial crises, not to have an effect oneconomic growth. The IMF has a substantial web site and supports its ownresearch department. See http://www.imf.org.Contexts: macro; monetary; tradeimplementable:A decision rule(a mapping from expressed preferences by each of agroup of agents to a common decision) "is implementable (in Nashequilibrium) if there exists a game form whose Nash equilibrium outcome is thedesired outcome for the true preferences."Source: Miyagawa, 1998, p 2Contexts: game theoryimplicit contract:A non-contractual agreement that corresponds to a Nash equilibrium to therepeated bilateral trading game other than the sequence of Nash equilibria tothe one-shot trading game.In the labor market -- an implicit contract is formally represented by aseries of games in which the firm pays a salary and the employee workseffectively because they expect to play the game again (continue theagreement) if it goes well, not because they have an explicit, enforceablecontract.That is, "by implicit contracts is meant nonbinding commitments fromemployers to offer ... continuity of wages, employment, and workingconditions, and from employees to forgo such temptations as shirking andquitting for better opportunities." -- Granovetter, Ch 9Source: paraphrased from Clive Bull, (1987)Contexts: labor; game theory; modelsimpossibility theorem:One of a class of theorems following Arrow (1951) showing that social welfarefunctions cannot have certain collections of desirable attributes incommon.Source: Arrow, 1951;Sen, Amartya. "Rationality and social choice". AmericanEconomic Review, Vol 85:1, March 1995, pages 1-2.Contexts: public economics; modelsimpulse response function:Consider a shock to a system. A graph of the response of the system over timeafter the shock is an impulse response function graph. One use is in modelsof monetary systems. One graphs for example the percentage deviations inoutput or consumption over time after a one-time one percent increase in themoney stock.Contexts: macro; econometrics; estimationInada conditions:A function f() satisfies the Inada conditions if: f(0) = 0, f'(0) =infinity, and f'(infinity) = 0. f() is usually a production function in thiscontext.Source: Blanchard & Fischer, p. 38Contexts: macro; modelsinadmissible:A possible action by a player in a game may be said to be inadmissible if itis dominatedby another feasible actions.The term comes the view of a game as a math problem. An action is or is notadmissible as a candidate solution to the problem of choosing autility-maximizing strategy for the game player.As used in Manski, Charles F. "Identification problems and decisionsunder ambiguity: empirical analysis of treatment response and normativeanalysis of treatment choice" Northwestern University Department ofEconomics and Institute for Policy Research, September 1998, p. 2Source: The New Palgrave: Econometrics, p 96; and Gabrielsen,1978Contexts: econometricsincidental parameters:Parameters of an estimation problem which only a limited number of dataobservations tell us about. This poses a problem for estimating the otherparameters, even if every data observation tells us something about those.To illustrate, suppose we have a statistical model that we are interested inapplying to data which is clustered in small groups and there is a parameterassociated with each small group -- classically, fixed effects. E.g.we wish to measure the effect of neighborhoods on children's education, butalso wish for each family to have a fixed effect on the educational outcome,and families have ten or fewer members each. Or we wish to measure workerpractices on safety outcomes, and to take into account that each employer hasan effect, but have (for some reason we cannot work around) fewer than twentyobservations on each employer.Consider the consistency question: if the number of observations were to growto an infinite number and there were plenty of variation in the data, would itbe possible to estimate the structural parameters perfectly? A rule of theproblem here is that the groups (families or employers, in the examples) arealways small, so when we say infinite data, we mean more and more individuals,but also more and more families or companies. These groups remain anestimation problem no matter how many observations there are. Even as ourdata grows in principle to infinite numbers of obsevations, the number ofparameters to be estimated also grows to an infinite number. In the languageof Neyman and Scott (1948, p. 2) who defined this term, the per-groupparameters, which grow infinitely, are the incidental parameters andthe parameters on which every observation sheds light, and which are theactual subject of interest, are structural parameters. The structuralparameters in the examples above are the effects of various neighborhoods onchildren, and the effect of various work practices on safety andhealth.In these models, consistent estimation of the incidental parameters is notpossible, in their language, because the data available on each of them isfinite. In some cases the structural parameters can be consistentlyestimated, and in others cases they cannot. If consistency is possible, theefficiency of estimation is sometimes impaired, and sometimes not. Maximumlikelihood estimation is sometimes biased or inconsistent (Neyman and Scott,p. 7-8, and p. 26).Source: Ed Johnson's working paper, "Ordered Logit with FixedEffects."Neyman, J., and Elizabeth L. Scott. "Consistent Estimates Based on PartiallyConsistent Observations" Econometrica, vol. 16, No. 1 (Jan. 1948), pp1-32.JSTOR copy of the articleContexts: econometrics; estimationincome elasticity:When used without another referent, appears to mean 'of consumption'. That isfor income I and consumption C:income elasticity = (I/C)*(dC/dI)In one paper estimates were shown of .2 to .6 for a random sample ofindustrialized country middle class people.For more details see elasticity.Source: labor; macroindemnity:A kind of insurance, in which payment is made (often in previously determinedamounts) for injuries suffered, not for the costs of recovery. The payment isdesigned not to be a dependent on anything the patient can control. From thepoint of view of the insurer, this mechanism avoids the moral hazard problemof victim spending too much in recovery.Source: Weisbrod's class circa 5/21/97Contexts: publicindependent:Two random variables X and Y are statistically independent if and only iftheir joint density (pdf) is the product of their marginal densities, that isif f(x,y)=fx(x)fy(y).If two random variables are independent they are alsouncorrelated.Source: Greene, 1993, p. 64Contexts: econometricsindicator variable:In a regression, a variable that is one if a condition is true, and zero if itis false. Approximately synonymous with dummy variable, binaryvariable, or flag.Contexts: econometrics; estimationindifference curve:Represented for example on a graph whose horizontal and vertical axes arequantities of goods an individual might consume, an indifference curverepresents a contour along which utility for that individual is constant. Thecurve represents a set of possible consumption bundles between which theindividual is indifferent. Normally, with desirable goods on both axes (say,income today and income tomorrow) the curve has a certain shape, further fromthe origin when both quantities are positive than when one is zero.Contexts: micro; modellingindirect utility function:Denoted v(p, m) where p is a vector of prices for goods, and m is a budget inthe same units as the prices. This function takes the value of the maximumutility that can be achieved by spending the budget m on the consumption goodswith prices p.Source: Varian, 1992, Ch 15Contexts: modelsindividually rational:An allocation is individually rational if no agent is worse off in thatallocation than with his endowment.Contexts: general equilibrium; modelsinductive:Characterizing a reasoning process of generalizing from facts, instances, orexamples. Contrast deductive.Contexts: philosophyIndustrial Revolution:A period commonly dated 1760-1830 in Britain (as in Mokyr, 1993, p 3 andAshton, 1948). Characterized by: "a complex of technological advances:the substitution of machines for human skills and strength; the development ofinanimate sources of power (fossil fuels and the steam engine); the invention,production, and use of new materials (iron for wood, vegetable for animalmatter, mineral for vegetable matter); and the introduction and spread of anew mode of production, known by contemporaries as the factory system."-- Landes (1993b) p 137.Source: Mokyr, 1993, p 3; Landes,1993b, p 137Contexts: historyindustrialization:A historical phase and experience. The overall change in circumstancesaccompanying a society's movement population and resources from farmproduction to manufacturing production and associated services.Source: Kemp, Thomas. 1985. Industrialization in Nineteenth-Century Europe.page xi.Contexts: historyinf:Stands for 'infimum'. A value is an infimum with respect to a set if allelements of the set are at least as large as that value. An infimum exists incontext where a minimum does not, because (say) the set is open; e.g. the set(0,1) has no minimum but 0 is an infimum.inf is a mathematical operator that maps from a set to a value that issyntactically like the members of that set, although the value may notactually be a member of the set.Contexts: real analysisinflation:Reduction in value of a currency. Measured often by percentage increases inthe general price level per year.Contexts: macro; moneyinformation:Relevant terms: meet,stopping rule.Contexts: fieldsinformation matrix:In maximum likelihood estimation, the variance of the score vector. It's a kx k matrix, where k is the dimension of the vector of parameters beingestimated. The vector of parameters is denoted qhere:I(q) = var S(q) =E[(S(q)-ES(q))2] = E[S(q)2]where the score is S(q) = dL(q)/d(q)The information matrix can also be calculated by multiplying the Hessian ofthe log-likelihood function by (-1).Contexts: econometricsinformation number:Synonym for Fisher information (which see).Contexts: econometrics; statisticsinformational cascade:"An informational cascade occurs when it is optimal for an individual,having observed the actions of those ahead of him, to follow [that is,imitate] the behavior of the preceding individual without regard to his owninformation."-- Bikhchandani, Hirshleifer, and Welch, 1992, p 992Source: Bikhchandani, Hirshleifer, and Welch, 1992, p 992INSEAD:An American-style business school near Paris. Operates in English.INSEE:The economic statistics agency of the French government. Stands for InstitutNational de la Statistique et des Etudes Economiques.Its web site.Contexts: datainside money:Any debt that is used as money. Is a liability to the issuer. Total amountof inside money in an economy is zero. Contrast outside money.Contexts: money; modelsinstitution:There are several definitions. Here's one: "An institution is a socialmechanism through which men work together for common or like ends. It is anecessary arrangement wherever regulated group behavior over a broad field ofactivity is found. It is opposed in sociological thought to 'face to face'grouping and to local community forms of life ..." (Ware, p. 6)For more see new institutionalism.Source: Norman J. Ware. Labor in Modern Industrial Society.1935. D.C Heath and Company.Contexts: sociology; history; organizationsinstrumental variables:Either (1) an estimation technique, often abbreviated IV, or (2) the exogenousvariables used in the estimation technique.Suppose one has a model:y = Xb + eHere y is a T x 1 vector of dependent variables and X is a T x k matrix ofindependent variables, both of which come from some data source. b is a k x 1vector of parameters to estimate, and e is a T x 1 vector of errors made bythe model in its predictions of y.Suppose in the environment being modelled that the matrix of independentvariables X may be correlated to the e's. One could run OLS, butbecause of the correlation between X and e, the OLS estimator is biased andinconsistent. However, using a T x k matrix of independent variablesZ, correlated to the X's but uncorrelated to the e's one can construct an IVestimator that will be consistent:bIV = (Z'X)-1Z'yThe two stage least squaresestimator is an important extension of thisidea.In that discussion above, the exogenous variables Z are called instrumentalvariables.With thanks to: Jonathan Meer; Masahito YoshidaContexts: econometrics; estimationinstruments:When regressors are correlated to errors in a model, one may be able toreplace the regressors by estimates for these regressors that are notcorrelated to the errors. This is the technique of instrumentalvariables, and the replacement regressors are calledinstruments.The replacement regressors are constructed by running regressions of theoriginal regressors on exogenous variables that are called the instrumentalvariables.There are two conditions for a variable to be a viable instrument. First, itmust be uncorrelated with the errors. This is the exogeneitycondition. Second, it must be correlated with the endogenous variables. Thisis the relevance condition. This second condition can be tested through thecorrelation between the instrument and the endogenous variables (or thecoefficient on the instrument in the first stage of a two stage least squaresregression). The exogeneity condition, on the other hand, cannot generally bedirectly tested, and an intuitive argument must be made. If there are moreinstruments than endogenous variables, then an overidentification test can beused to test exogeneity of the instruments.Weak instruments which do not satisfy the relevance condition well can oftencause more harm than good. (On this last point, see John Bound, David A.Jaeger and Regina Baker's "The Cure Can Be Worse than the Disease: ACautionary Tale Regarding Instrumental Variables," NBER Working PaperT0137.)Contexts: econometrics; estimationintegrated:Said in reference to a random process. A random process is said to be'integrated of order d' (sometimes denoted I(d)) for some natural number d ifthe series that would remain after one took first differences d times would becovariance stationary.Example: a random walk is I(1).Example: "Most macroeconomic flows and stocks that relate to populationsize, such as output or employment, are I(1)." They are growing.Example: "An I(2) series [might] be growing at an ever-increasingrate."Source: Greene, 1993, p 559Contexts: econometrics; time series; estimationintensive margin:Refers to the degree (intensity) to which a resource is utilized or applied.For example, the effort put in by a worker or the number of hours the workerworks. Contrast extensive margin.inter alia:"Among other things"Source: American Heritage Dictionary, 1982Contexts: phrasesinter vivos:From Latin, "between lives". Used to describe gifts beetweenpeople, usually from one generation to the next, which are likebequests except that both parties are alive. Quantities and timing of suchgifts are studied empirically in the same way that quantities and purposesof bequests are subjects of empirical study.Contexts: labor; family; taxinterim efficient:Defined, apparently, in Holmstrom and Myerson (1983) with reference toRothschild and Stiglitz (1976). In Imderst (2000) this term is used tocharacterize the set ('family') of Rothschild-Sticlitz contracts in aparticular model setting.Source: Holmstrom, Bengt, and Roger Myerson. "Efficient and durabledecision rules with incomplete information." Econometrica 51(1983), 1799-1819.Inderst, Roman. "Markets with simultaneous signaling andscreening." Jan 2000 working paper from University of Mannheim.Seehttp://www.vwl.uni-mannheim.de/modovan/roman.html.Rothschild, M., and J Stiglitz. "Equilibrium in competitive insurancemarkets: an essay on the economics of imperfect information."Quarterly Journal of Economics 90 (1976), 629-650.Contexts: game theoryinterior solution:A choice made by an agent that can be characterized as an optimum located at atangency of two curves on a graph.A classic example is the tangency between a consumer's budget line(characterizing the maximum amounts of good X and good Y that the consumer canafford) and the highest possible indifference curve. The slope of thattangency is where:(marginal utility of X)/(price of X) = (marginal utility of Y)/(price of Y)Contrast corner solution.Contexts: micro theory; phrasesinternal knowledge spillover:positive learning or knowledge externalities between programs or plants withina production organization.internal labor markets:Refers to the process of reallocating workers within an organization, asopposed to reallocating them to and from the outside, external labor market.Relevant institutions include:- hierarchical job ladders, in which promotions are orderly and routine;- limited entry points to the organization, e.g. because it hires only forthe bottom jobs, or hires only recent college graduates;- inducements to stay on the job, such as benefits earned with time likeextra vacation or stock options.(Drawn from Stone, 1973, pp 163-4.)There are others; to be added here as discovered by this editor. One reasonan employer would want to encourage internal labor markets is that workerslearn over time how to work effecively with particular technologies and inparticular organizations and losing this background to an outside employerwhen a worker leaves is costly; substitute workers from outside would not knowthe same things.Source: Stone, Katherine. 1974. "The Origin of Job Structures in theSteel Industry" Review of Radical Political Economics. pp113-173.Contexts: laborinverse demand function:A function p(q) that maps from a quantity of output to a price in the market;one might model the demand a firm faces by positing an inverse demand functionand imagining that the firm chooses a quantity of output.Contexts: IO; modelling; microinverse Mills ratio:Usually denoted l(Z), and defined by l(Z)=phi(Z)/PHI(Z), where phi() is the standard normalpdf and PHI() is the standard normal cdf.Contexts: econometricsinvertibility:In context of time series processes, represented for example by a lagpolynomial, inverting means to solve for the e's (epsilons) in terms of they's.One inverts moving average (MA) processes to get AR representations.Source: Watson's compressed time series notes, p. 32Contexts: econometrics; time series; linear algebrainvestment:Any use of resources intended to increase future production output orincome.Contexts: macroIO:stands for 'Industrial Organization', the field of industry structure,conduct, and performance. By structure we usually mean the size of the firmsin the industry -- e.g. whether firms have monopoly power.Relevant terms: absorptive capacity,affine pricing,base point pricing,Bertrand competition,Bertrand duopoly,Bertrand game,bidding function,capital,circulating capital,Clayton Act,compensating variation,concentration ratio,cost curve,Cournot duopoly,Cournot game,Cournot model,DOJ,dominant design,exclusive dealing,firm,FTC,FTC Act,Gini index,Glass-Steagall Act,H index,Herfindahl-Hirschman index,inverse demand function,Lerner index,linear pricing schedule,Lorenz curve,market power,market power theory of advertising,Markov strategy,monopoly,monopoly power,monopsony,network externalities,nonlinear pricing,oligopsony,predatory pricing,price complements,price substitutes,pricing schedule,product differentiation,Regulation Q,Robinson-Patman Act,shakeout,Sherman Act,SIC,team production,theory of the firm,tying,X-inefficiency model.Contexts: fieldsIPO:Stands for "initial public offering", the event of a firm's firstsale of stock shares.Source: financeIPUMS:Integrated Public Use Microdata Series. These are collections of U.S. Censusdata, adapted for easy use by the University of Minnestota Social HistoryResearch Laboratory, at its Web sitehttp://www.ipums.umn.edu.Contexts: dataIR constraint:IR stands for "individually rational".When solving a principal-agent maximization problem for a contract that meetsvarious criteria, the IR constraints are those that require agents to preferto sign the contract than not to. If the IR constraint were not imposed, thesolution to the problem might be economically meaningless, insofar as it was acontract that met some criterion of optimality but which an agent would refuseto sign.See also IC constraint.Contexts: models; micro theory; principal-agent problemsIRS:The United States national tax collection agency, called the Internal RevenueService.is consistent for:means "is a consistentestimatorof"Contexts: phrases; econometricsisoquant:Given a production function, an isoquant is "the locus of inputcombinations that yield the same output level." (Chiang, p. 360) There is anisoquant set for each possible output level. Mathematically the isoquant is alevel curveof the production function.Examples and discussion is at Martin Osborne's web page:http://www.chass.utoronto.ca/~osborne/2x3/tutorial/ISOQUANT.HTM.Source: Chiang, 1984Contexts: production theory; microIto process:A stochastic process: a generalized Wiener processwith normallydistributed jumps.Contexts: time series; finance; models; statisticsIV:abbrevation for Instrumental Variables, an estimation techniqueContexts: econometrics; estimationJ statistic:In a GMMcontext, when there are more moment conditions than parametersto be estimated, a chi-square test can be used to test the overidentifyingrestrictions. The test statistic can be called the J statistic.In more detail: Say there are q moment conditions and p parameters to beestimated. Let the weighting matrix be the inverse of the asymptoticcovariance matrix. Let T be the sample size. Then T times the minimizedvalue of the objective function (TJT(bT)) is asymptotically distributed with achi-square distribution with (q-p) degrees of freedom.Source: Ogaki, Handbook of Statistics, Vol 11, chapter 17, p 458;Hansen, 1982Contexts: econometricsjackknife estimator:Has multiple, overlapping definitions numbered below:(1) kind of nonparametric estimator for a regression function. A jackknifeestimator is a linear combination of kernel estimators with different windowwidths. Jackknife estimators have higher variance but less bias than kernelestimators. (Hardle, p. 145.)(2) creates a series of statistics, usually a parameter estimate, from asingle data set by generating that statistic repeatedly on the data setleaving one data value out each time. This produces a mean estimate of theparameter and a standard deviation of the estimates of the parameter.(Nick Cox, in an email broadcast to Stata users on statalist, circa7/5/2000.)Source: Hardle, 1990Contexts: econometrics; nonparametrics; estimationJE:An occasional abbreviation for the academic journal Journal ofEconometrics.Contexts: journalsJEH:An abbreviation for the Journal of Economic History.Contexts: journalsJEL:Journal of Economic Literature. See also JEL classificationcodes.Contexts: journalsJEL classification codes:These define a classification system for books and journal articles relevantto the economic researcher. The list has three levels of precision:categories A-Z, subcategories like A0-A2 (these are used to classify books),and sub-subcategories like A10-A14 (which are used to classify journalarticles). The second level is detailed here; for the complete set ofpossible JEL codes see any issue, e.g. in the Sept 1997 issue, pages1609-1620. The list below comes from that same issue, pages 1437-1439. Amore up-to-date list is online athttp://www.aeaweb.org/journal/elclasjn.htmlA. General Economics and Teaching (A0 General, A1 General Economics, A2Teaching of Economics)B. Methodology and History of Economic Thought (B0 General, B1 History ofEconomic Thought through 1925, B2 History of Economic Thought since 1925, B3History of Thought: Individuals, B4 Economic Methodology)C. Mathematical and Quantitative Methods (C0 General, C1 Econometric andStatistical Methods: General, C2 Econometric and Statistical Methods: SingleEquation Models, C3 Econometric and Statistical Methods: Multiple EquationModels, C4 Econometric and Statistical Methods: Special Topics, C5 EconometricModeling, C6 Mathematical Methods and Programming, C7 Game Theory andBargaining Theory, C8 Data Collection and Data Estimation Methodology;Computer Programs, C9 Design of Experiments)D. Microeconomics (D0 General, D1 Household Behavior and Family Economics, D2Production and Organizations, D3 Distribution, D4 Market Structure andPricing, D5 General Equilibrium and Disequilibrium, D6 Economic Welfare, D7Analysis of Collective Decision-Making, D8 Information and Uncertainty, D9Intertemporal Choice and Growth)E. Macroeconomics and Monetary Economics (E0 General, E1 General AggregativeModels, E2 Consumption, Saving, Production, Employment, and Investment, E3Prices, Business Fluctuations, and Cycles, E4 Money and Interest Rates, E5Monetary Policy, Central Banking and the Supply of Money and Credit, E6Macroeconomic Aspects of Public Finance, Macroeconomic Policy, and GeneralOutlook)F. International Economics (F0 General, F1 Trade, F2 International FactorMovements and International Business, F3 International Finance, F4Macroeconomic Aspects of International Trade and Finance)G. Financial Economics (G0 General, G1 General Financial Markets, G2 Financialand Institutions and Services, G3 Corporate Finance and Governance)H. Public Economics (H0 General, H1 Structure and Scope of Government, H2Taxation and Susidies, H3 Fiscal Policies and Behavior of EconomicAgentsSource: JELXXXV: 3 (Sept 1997), pp 1437-1439Contexts: journalsJEMS:An abbreviation for the Journal of Economics and ManagementStrategy.Contexts: journalsJensen's inequality:If X is a real-valued random variable with E(|X|) finite and the function g()is convex, then E[g(X)] <= g(E[X]).One application: By Jensen's inequality, E[X2] <=(E[X])2. Since the difference between these is the variance, wehave just shown that any random variable for which E[X2] is finitehas a variance and a mean.This is the inequality one can refer to when showing that an investor with aconcave utility function prefers a certain return to the same expected returnwith uncertainty.Contexts: probability; statistics; financeJEP:An abbreviation for the Journal of Economic Perspectives.Contexts: journalsJET:An abbreviation for the Journal of Economic Theory.Contexts: journalsJF:Journal of FinanceContexts: finance; journalsJFE:Journal of Financial EconomicsContexts: finance; journalsJFI:Journal of Financial Intermediation, athttp://www.bus.umich.edu/jfi/JHR:Journal of Human ResourcesContexts: journalsJIE:An abbreviation for theJournal of Industrial Economics.Contexts: journalsJLE:An abbreviation for the Journal of Law and Economics.Contexts: journalsJLEO:An abbreviation for the Journal of Law, Economics andOrganization.Contexts: journalsjob lock:Describes the situation of a person with a U.S. job who is not free to leavefor another job because the first job has medical benefits associated with itthat the person needs, and the second one would not, perhaps because'pre-existing conditions' are often not covered under U.S. healthinsurance.JOE:The monthly US publicationJob Openings forEconomists.Contexts: publicationsjournals:In the context of research economics these are academic periodicals, usuallywith peer-reviewed contents. An amazingly complete list of hyperlinks tojournals is at the WebEc web site.Some are also in this glossary directly, below.Relevant terms: AER,AJS,ASQ,ASR,BJE,EconLit,Econometrica,EEH,EER,EJ,EMA,GEB,IER,IJIO,JE,JEH,JEL,JEL classification codes,JEMS,JEP,JET,JF,JFE,JHR,JIE,JLE,JLEO,JPAM,JPE,JPubE,JRE,Kyklos,QJE,ReStat,ReStud,RJE.Contexts: fieldsJPAM:Journal of Policy Analysis and ManagementContexts: journalsJPE:Abbreviation for the Journal of PoliticalEconomyContexts: journalsJPubE:Journal of Public EconomicsContexts: journalsJRE:An abbreviation for the Journal of Regulatory Economics.Contexts: journalsk percent rule:A monetary policy rule of keeping the growth of money at a fixed rate of kpercent a year. This phrase is often used as stated, without specifying thepercentage.Contexts: money; macrok-nearest-neighbor estimator:A kind of nonparametric estimator of a function. Given a data set{Xi, Yi} it estimates values of Y for X's other thanthose in the sample. The process is to choose the k values of Xinearest the X for which one seeks an estimate, and average their Y values.Here k is a parameter to the estimator. The average could be weighted, e.g.with the closest neighbor having the most impact on the estimate.Source: Hardle, 1990Contexts: econometrics; estimationKalman filter:The Kalman filter is an algorithm for sequentially updating a linearprojection for a dynamic system that is in state-space representation.Application of the Kalman filter transforms a system of the followingtwo-equation kind into a more solvable form:xt+1=Axt+Cwt+1yt=Gxt+vtin which:A, C, and G are matrices known as functions of a parameter q about which inference is desired (this is the PROBLEMto be solved),t is an whole number, usually indexing time,xt is a true state variable, hidden from the econometrician,yt is a measurement of x with scalings G and measurement errorsvt,wt are innovations to the hidden xt process,Ewt+1wt'=1 by normalization,Evtvt=R, an unknown matrix, estimation of which isnecessary but ancillary to the problem of interest which is to get an estimateof q.The Kalman filter defines two matrices St and Kt suchthat the system described above can be transformed into the one below, inwhich estimation and inference about q and R ismore straightforward, possibly even by OLS:zt+1=Azt+Katyt=Gzt+atwherezt is defined to be Et-1xt,at is defined to be yt-Et-1yt,K is defined to be lim Kt as t goes to infinity.The definition of those two matrices St and Kt is itselfmost of the definition of the Kalman filter:Kt=AStG'(GStG'+R)-1St+1=(A-KtG)St(A-KtG)'+CC'+KtRKt'Kt is called the Kalman gain.It's not yet clear to me what specific examples there are of problems that theKalman filter solves.Source: Hamilton p 372; Sargent lecture 5/8/97Contexts: macro; econometrics; estimationKalman gain:One of the two equations that characterizes the application of the Kalmanfilterprocess defines an expression sometimes denoted Kt,which is called the Kalman gain.That equation, using notation from Sargent's lectures, is:Kt=AStG'(GStG'+R)-1Contexts: macro; econometricskeiretsu system:The framework of relationships in postwar Japan's big banks and big firms.Related companies organized around a big bank (like Mitsui, Mitsubishi, andSumitomo) which own a lot of equity in one another and in the bank and do muchbusiness with one another. This system has the virtue of maintaining longterm business relationships and stability in suppliers and customers. It hasthe disadvantage of reacting slowly to outside events since the players arepartly protected from the external market. (p 412)Source: Landau, Ralph. 1996. "Strategy for Economic Growth: lessons from theChemical Industry." In The Mosaic of Economics Growth, edited by RalphLandau, Timothy Taylor, and Gavin Wright. Stanford University Press.kernel estimation:Kernel estimation means the estimation of a regression function or probabilitydensity function. Such estimators are consistent and asymptotically normal ifas the number of observations n goes to infinity, the bandwidth (window width)h goes to zero, and the product nh goes to infinity. In practice, kernelestimation may mean use of the Nadaraya-Watson estimator.Source: Hardle, 1990Contexts: econometrics; nonparametrics; estimationkernel function:A weighting function used in nonparametric function estimation. It gives theweights of the nearby data points in making an estimate. In practice kernelfunctions are piecewise continuous, bounded, symmetric around zero, concave atzero, real valued, and for convenience often integrate to one. They can beprobability density functions. Often they have a bounded domain like[-1,1].Source: Hardle, 1990Contexts: econometrics; nonparametrics; estimationKeynes effect:As prices fall, a given nominal amount of money will be a larger real amount.Consequently the interest rate would fall and investment demanded rise. ThisKeynes effect disappears in the liquidity trap. Contrast thePigou effect.Another phrasing: that a change in interest rates affects expenditure spendingmore than it affects savings.Source: James Tobin. "Keynesian Models of Recession andDepression"Contexts: macro; modelskitchen sink regression:Describes a regression where the regressors are not in the opinion of thewriter thoroughly 'justified' by an argument or a theory. Often usedpejoratively; other times describes an exploratory regression.Contexts: estimation; econometricsKLIC:Kullback-Leibler Information Criterion. An unpublished paper by Kitamura(1997) describes this as a distance between probability measures. It isdefined in that paper thus. The KLIC between probability measures P and Qis:I(P||Q) = [integral of] ln(dP/dQ) dP if P >> Q........ = infinity otherwiseContexts: econometricsKnightian uncertainty:Unmeasurable risk. Contrast Knightian uncertainty.Source: Used in Rosenberg (1996) in Mosaic of Economic Growth.knots:If a regression will be run to estimates different linear slopes for differentranges of the independent variables, it's a spline regression, and theendpoints of the ranges are called knots.The spline regression is designed so that the resulting spline function,estimating the dependent variable, is continuous at the knots.Source: Greene, 1993, p 237Contexts: econometricsKolmogorov's Second Law of Large Numbers:If {wt} is a sequence of iiddraws from a distribution andEwt exists (call it mu) then the average of the wt'sgoes 'almost surely' to mu as t goes to infinity.Same as strong law of large numbers, I believe.Source: Bruce Meyer's D80-3 notesContexts: econometrics; statisticsKronecker product:This is an operator that takes two matrix arguments. It is denoted by a smallcircle with an x in it, but will be denoted here by 'o'. Let A be an M x Nmatrix, and B be an R x S matrix. Then AoB is an MR x NS matrix, formed fromA by multiplying each element of a by the entire matrix B and putting it inthe place of the element of A, e.g.:a11B a12B ... a1nB. . . . . .. . . . . .aM1B aM2B ... aMnBKronecker products have the following useful properties:(AoB)(CoD)=ACoBD(AoB)-1 = A-1oB-1(AoB)' = A'oB'(AoB)+(AoC)=Ao(B+C)AoC+BoC = (A+B)oCContexts: econometrics; linear algebraKruskal's theorem:Let X be a set of regressors, y be a vector of dependent variables, and themodel be: y=Xb+e where E[ee'] is the matrix OMEGA.The theorem is that if the column space of (OMEGA)X is the same as the columnspace of X; that is, that there is heteroskedasticity but notcross-correlation, then the GLSestimator of b is the same as theOLSestimator of b.Contexts: econometricskurtosis:An attribute of a distribution, describing 'peakedness'. Kurtosis iscalculated as E[(x-mu)4]/s4 where mu is the mean and sis the standard deviation.Source: Hogg and Craig, p 57Contexts: econometrics; statisticsKuznets curve:A graph with measures of increased economic development (presumed to correlatewith time) on the horizontal axis, and measures of income inequality on thevertical axis hypothesized by Kuznets (1955) to have an inverted-U-shape.That is, Kuznets made the proposition when an economy is primarilyagricultural it has a low level of income inequality, that during earlyindustrialization income inequality increases over time, then at some criticalpoint it starts to decrease over time. Kuznets (1955) showed evidence forthis.Source: Kuznets, 1955, p 16-17Contexts: development; macroKyklos:A journal, whose Web site is athttp://www.kyklos-review.ch/kyklos/index.html.Contexts: journalsL1:1"<The set of Lebesgue-integrable real-valued functions on [0,1].Source: Royden, p 118Contexts: real analysis; modelsL2:2"<A Hilbert space with inner product (x,y) = integral of x(t)y(t) dt.Equivalently, L2 is the space of real-valued random variables thathave variances. This is an infinite dimensional space.Source: Royden, p 118Contexts: real analysis; modelsLn:n"<is the set of continuous bounded functions with domainRnSource: Lucas (78) "Asset Pricing" paperContexts: real analysis; modelslabor:"[L]abor economics is primarily concerned with the behavior of employersand employees in response to the general incentives of wages, prices, profits,and nonpecuniary aspects of the employment relationship, such as workingconditions."Relevant terms: active measures,AFQT,AGI,average treatment effect,Beveridge curve,BHPS,cobweb model,cohort,CPI,education production function,efficiency units,efficiency wage hypothesis,efficiency wages,Engel effects,Eurosclerosis,experience,extensive margin,family,free entry condition,frictional unemployment,GDP deflator,Gini index,GSOEP,HRS,hysteresis,idle,implicit contract,inter vivos,internal labor markets,labor market outcomes,labor-leisure tradeoff,Lerman ratio,natural rate of unemployment,NLS,NLSY,NLSYW,oligopsony,passive measures (to combat unemployment),price complements,price substitutes,PSID,regrettables,reservation wage property,SCF,SES,skill,SLID,social capital,statistical discrimination,structural unemployment,Survey of Consumer Finances,tenure,tightness,treatment effects,unemployment,union threat model,wage curve,welfare capitalism,yellow-dog contract.Contexts: fieldslabor market outcomes:Shorthand for worker (never employer) variables that are often consideredendogeneous in a labor regression. Variables which are determined andwhich may appear on the right side of such regressions: wage rates, employmentindicators, or employment rates.Contexts: laborlabor productivity:Quantity of output per time spent or numbers employed. Could be measured in,for example, U.S. dollars per hour.Contexts: macrolabor theory of value:"Both Ricardo and Marx say that the value of every commodity is (inperfect equilibrium and perfect competition) proportionaly to the quantity oflabor contained in the commodity, provided this labor is in accordance withthe existing standard of efficiency of production (the 'socially necessaryquantity of labor'). Both measure this quantity in hours of work and use thesame method in order to reduce different qualities of work to a singlestandard." And neither accounts well for monopoly or imperfectcompetition. (Schumpeter, p 23)Source: Schumpeter, Joseph R. 1950. Capitalism, Socialism, andDemocracy, third edition. (First edition 1942.) Harper & Row. NewYork.labor-augmenting:One of the ways in which an effectiveness variable could be included in aproduction function in a Solow model. If effectiveness A is multipliedby labor L but not by capital K, then we say the effectiveness variable islabor-augmenting.See also Harrod-neutral, a near-synonym. It is suggested in theliterature using the term Harrod-neutral that some inventions or othertechnical changes might be measured to be labor-augmenting.Source: Romer, 1996, p 7Contexts: macrolabor-leisure tradeoff:In a model of how people spend their time and effort, a classic design is tolabel time at work 'labor' and time not at work 'leisure'.The agents being modeled may make a choice of working more time and earningmore money, or working less and earning less. If they have a desire for bothmoney and leisure, but receive diminishing returns from each, then there mightmake an interior choice in the model, to work neither zero nor 24 hours a day.If so the model has succeeded in the sense that it made a prediction whichcould be tested.In such a model one might use a utility function to describe the agent'sbehavior, u(i,e) where i is income and e is leisure time, and the mathematicsof the assumption about diminishing returns take this form: Let e and i benonnegative and e be less than 24 hours. u'(i)<0 and u'(e)<0. (Those arefirst derivatives.) Also let u''(i)Contexts: laborLAD:Stands for 'Least absolute deviations' estimation.LAD estimation can be used to estimate a smooth conditional median function;that is, an estimator for the median of the process given the data. Say thedata are stationary {xt, yt}. The dependent variable isy and the independent variable is x.The criterion function to be minimized inLAD estimation for each observation t is:q(xt,yt,q) =|yt=m(xt,q)|where m() is a guess at the conditional median function.Under conditions specified in Wooldridge, p 2657, the LAD estimator here isFisher-consistent for parameters of the estimator of the medianfunction.Source: Wooldridge 1995, p 2657Contexts: econometricslag operator:Denoted L. Operates on an expression by moving the subscripts on a timeseries back one period, so:Let = et-1Why? Well, it can help manipulability of some expressions. For example itturns out one can could write an MA(2) process (which see) to look like this,in lag polynomials (which see):et = (1 + p1L + p2L2)utand then divide both sides by the lag polynomial, and get a legal, meaningful,correct expression.Contexts: macro; time series; modelslag polynomial:A polynomial expression in lag operators (which see).Example: (1 - p1L + p2L2)where L2 = LL, or the lag operator L applied twice.These are useful for manipulating time series. For example, one can quicklyshow an AR(1) is equivalent to an MA(infinity) by dividing both sides by thelag polynomial (1-pL).Contexts: modelsLagrangian multiplier:An algebraic term that arises in the context of problems of mathematicaloptimization subject to constraints, which in economics contexts is sometimescalled a shadow price.A long example: Suppose x represents a quantity of something that anindividual might consume, u(x) is the utility (satisfaction) gained by thatindividual from the consumption of quantity x. We could model theindividual's choice of x by supposing that the consumer chooses x to maximizeu(x):x = arg maxx u(x)Suppose however that the good is not free, so the choice of x must beconstrained by the consumer's income. That leads to a constrainedoptimization problem ............[Ed.: this entry is unfinished]Contexts: micro theory; optimizationlaissez faire:A government policy posture of letting market processes proceed withoutintervention or regulation. Often implies tolerance of monopoly.LAN:stands for "locally asymptotically normal", a characteristic of many ("afamily of") distributions.Contexts: statistics; econometricslarge sample:Usually a synonym for 'asymptotic' rather than a reference to an actual samplemagnitude.Contexts: econometricsLaspeyres index:A price indexfollowing a particular algorithm.It is calculated from a set ("basket") of fixed quantities of a finite list ofgoods. We are assumed to know the prices in two different periods. Let theprice index be one in the first period, which is then the base period. Thenthe value of the index in the second period is equal to this ratio: the totalprice of the basket of goods in period two divided by the total price ofexactly the same basket in period one.As for any price index, if all prices rise the index rises, and if all pricesfall the index falls.Source:http://www.geocities.com/jeab_cu/paper2/paper2.htm.Contexts: price indices; macroLaw of iterated expectations:Often exemplified by EtEt+1(.) = Et(.) Thatis, "one cannot use limited information [at time t] to predict theforecast error one would make if one had superior information [at t+1]."-- Campbell, Lo, and MacKinlay, p 23.Source: Sargent, 1987, Ch 3Contexts: macro; modelsLBO:Leveraged buy-out. The act of taking a public company private by buying itwith revenues from bonds, and using the revenues of the company to pay off thebonds.Contexts: financeleast squares learning:The kind of learning that an agent in a model exhibits by adapting topast data by running least squares on it to estimate a hypothesizedparameter and behaving as if that parameter were correct.Contexts: macroleisure:In some models, individuals spend some time working and the rest is lumpedinto a category called leisure, the details of which are usually leftout.Contexts: modelslemons model:Describes models like that of Akerlof's 1970 paper, in which the fact that agood is available suggests that it is of low quality. For example, why areused cars for sale? In many cases because they are "lemons," thatis, they were problematic to their previous owners.Source: George A Akerlof "The Market for Lemons..." QJE 1970Contexts: modelsLeontief production function:Has the form q=min{x1,x2} where q is a quantity of output and x1 and x2 arequantities of inputs or functions of the quantities of inputs.Contexts: models; productionleptokurtic:An adjective describing a distribution with high kurtosis. 'High' means thefourth central moment is more than three times the second central moment; sucha distribution has greater kurtosis than a normal distribution. This term isused in Bollerslev-Hodrick 1992 to characterize stock price returns.Lepto- means 'slim' in Greek and refers to the central part of thedistribution.Source: Davidson and MacKinnon, 1993, p 62Contexts: statisticsLerman ratio:A government benefit to the underemployed will presumably reduce their hoursof work. The ratio of the actual increase in income to the benefit is theLerman ratio, which is ordinarily between zero and one. Moffitt (1992)estimates it in regard to the U.S. AFDC program at about .625.Source: Robert Moffitt, "Incentive Effects of the U.S. Welfare System: AReview", JEL March 1992, p. 17.Contexts: public finance; laborLerner index:A measure of the profitability of a firm that sells a good: (price - marginalcost) / price.One estimate, from Domowitz, Hubbard, and Petersen (1988) is that the averageLerner index for manufacturing firms in their data was .37.Source: Domowitz, Hubbard, and Petersen (1988), p 57-58Contexts: IOleverage ratio:Meaning differs by context. Often: the ratio of debts to total assets. Canalso be the ratio of debts (or long-term debts in particular, excluding forexample accounts payable) to equity.Normally used to describe a firm's but could describe the accounts of someother organization, or an individual, or a collection oforganizations.Contexts: finance; accountingLeviathan:The all-powerful kind of state that Hobbes thought "was necessary tosolve the problem of social order." -- Cass R. Sunstein, "The Roadfrom Serfdom" The New Republic Oct 20, 1997, p 37.Contexts: politicallikelihood function:In maximum likelihood estimation, the likelihood function (often denoted L())is the joint probability function of the sample, given the probabilitydistributions that are assumed for the errors. That function is constructedby multiplying the pdf of each of the data points together:L(q) = L(q; X) = f(X;q) = f(X0;q)f(X1;q)...f(XN;q)Contexts: econometrics; estimationLimdep:A program for the econometric study of limited dependent variables. Limdep'sweb site is at "http://www.limdep.com".Contexts: datalimited dependent variable:A dependent variable in a model is limited if it is discrete (can take on onlya countable number of values) or if it is not always observed because it istruncatedor censored.Contexts: econometrics; estimationLIML:stands for Limited Information Maximum Likelihood, an estimation ideaContexts: econometrics; estimationLindahl pricing:A theoretical pricing schedule for a public good which prices the good at alevel which would extract all the consumer surplus from each type of consumer.Consumers with different levels of demand for the good would each find thegood priced just high enough each one is indifferent to paying for it or notpaying for it.Contexts: public economics; theoryLindeberg-Levy Central Limit Theorem:Let {wt} be an iidsequence, with meanE[wt]=m, and variancevar(wt)=s2.Let W denote the average of T wt's. Then as T goes to infinity,T.5(W-m)/s will converge in distributionto a standard normaldistribution, N(0,1).Source: Bruce Meyer's D80-3 notesContexts: econometrics; statistics; time serieslinear algebra:Relevant terms: characteristic equation,characteristic root,Cholesky decomposition,conformable,determinant,eigenvalue,eigenvector,Hessian,idempotent,identity matrix,invertibility,Kronecker product,symmetric,trace,transpose.Contexts: fieldslinear model:An econometric model is linear if it is expressed in an equation which theparameters enter linearly, whether or not the data require nonlineartransformations to get to that equation.Source: Greene, 1993, p 240Contexts: econometricslinear pricing schedule:Say the number of units, or quantity, paid for is denoted q, and the totalpaid is denoted T(q), following the notation of Tirole. A linear pricingschedule is one that can be characterized by T(q)=pq for some price-per-unitp.For alternative pricing schedules see nonlinear pricing or affine pricingschedule.Source: Tirole, p 136Contexts: IOlinear probability models:Econometric models in which the dependent variable is a probability betweenzero and one. These are easier to estimate than probitor logitmodels but usually have the problem that some predictions will not be in therange of zero to one.Contexts: econometrics; estimationlinear regression:A regression in which dependent variable y could be predicted by a linearfunction of the independent variables X, and thus of the form y=Xb+e. Otherpossible forms of regression might look like this: y=f(Xb)+e, or y=f(X,b)+e,or y=f(X,b)e.Contexts: estimation; econometricslink function:Defined in the context of the generalized linear model, whichsee.Source: Rabe-Hesketh, Sophia, and Brian Everitt. 1999. A Handbook ofStatistical Analyses using Stata. Chapman & Hall / CRC. pp 91-93.Contexts: econometricsLipschitz condition:A function g:R-<R satisfies a Lipschitzcondition if|g(t1)-g(t2) >= C|t1-t2|for some constant C. For a fixed C we could say this is "the Lipschitzcondition with constant C."A function that satisfies the Lipschitz condition for a finite C is said to beLipschitz continuous, which is a stronger condition than regular continuity;it means that the slope so steep as to be outside the range (-C, C).Source: Kolmogorov and FominContexts: real analysis; nonparametricsLipschitz continuous:A function is Lipschitz continuous if it satisfies the Lipschitzconditionfor a finite constant C. Lipschitz continuity is a strongercondition than regular continuity. It means that the slope is never outsidethe range (-C, C).Contexts: real analysis; nonparametricsliquid:A liquid market is one in which it is not difficult or costly to buy orsell.More formally, Kyle (1985), following Black (1971), describes a liquid marketas "one which is almost infinitely tight, which is not infinitelydeep, and which is resilientenough so that prices eventuallytend to their underlying value."Source: Kyle, 1985, p 1317Contexts: financeliquidity:A property of a good: a good is liquid to the degree it is easily convertible,through trade, into other commodities. Liquidity is not a property of thecommodity itself but something established in trading arrangements.Source: Ostroy and Starr, 1990Contexts: moneyliquidity constraint:Many households, e.g. young ones, cannot borrow to consume or invest as muchas they would want, but are constrained to current income by imperfect capitalmarkets.Contexts: money; macroliquidity trap:A Keynesian idea. When expected returns from investments in securities orreal plant and equipment are low, investment falls, a recession begins, andcash holdings in banks rise. People and businesses then continue to hold cashbecause they expect spending and investment to be low. This is aself-fulfilling trap.See also Keynes effectand Pigou effect.Source: Hughes, Jonathan, and Louis P. Cain. 1994. American EconomicHistory, fourth edition. HarperCollins College Publishers. p 463.Contexts: macroLjung-Box test:Same as portmanteau test.Contexts: finance; time serieslocally identified:Linear models are either globally identified or there are an infinite numberof observably equivalent ones. But for models that are nonlinear inparameters, "we can only talk about local properties." Thus theidea of locally identifiedmodels, which can be distinguished in datafrom any other 'close by' model. "A sufficient condition for localidentification is that" a certain Jacobian matrix is of full columnrank.Source: Hsiao, The New Palgrave: Econometrics, p 96-98Contexts: econometrics; estimationlocally nonsatiated:An agent's preferences are locally nonsatiated if they are continuous andstrictly increasing in all goods.Contexts: general equilibrium; modelslog:In the context of economics, log usually means 'natural log', that isloge, where e is the natural constant that is approximately2.718281828. So x=log y ex=y.log utility:The logarithmic utility function, usually of consumption or wealth. Here isthe simplest version. Define U() as the utility function and w as wealth.ThenU(w) = ln(w)is the log utility function.Contexts: modelling; financelog-concave:A function f(w) is said to be log-concave if its natural log, ln(f(w)) is aconcave function; that is, assuming f is differentiable,f''(w)/f(w) - f'(w)2 >= 0Since log is a strictly concave function, any concave function is alsolog-concave.A random variableis said to be log-concave if its densityfunction is log-concave. The uniform, normal, beta, exponential, and extremevalue distributions have this property. If pdf f() is log-concave, then so isits cdf F() and 1-F(). The truncated version of a log-concave function isalso log-concave. In practice the intuitive meaning of the assumption that adistribution is log-concave is that (a) it doesn't have multiple separatemaxima (although it could be flat on top), and (b) the tails of the densityfunction are not "too thick".An equivalent definition, for vector-valued random variables, is inHeckman and Honore, 1990, p 1127. Random vector X islog-concave iff its density f() satisfies the condition thatf(ax1+(1-a)x2)≥[f(x1)]a[f(x2)](1-a) for allx1, and x2 in the support of X andall a satisfying 0≤a≤1.Source: Heckman and Honore, 1990, p 1127; BMW Ch 2, Job SearchTheoryContexts: statistics; econometrics; modelslog-convex:A random variableis said to be log-convex if its densityfunction is log-concave. Pareto distributions with finite means and varianceshave this property, and so do gamma densities with a coefficient of variationgreater than one. [Ed.: I do not know the intuitive content of thedefinition.]A log-convex random vector is one whose density f() satisfies the conditionthat f(ax1+(1-a)x2) ≤[f(x1)]a[f(x2)](1-a)for all x1, and x2 in the support ofX and all a satisfying 0≤a≤1.Source: Heckman and Honore, 1990, p 1132Contexts: statistics; econometrics; modelslogistic distribution:Has the cdf F(x) = 1/(1+e-x)This distribution is quicker to calculate than the normal distribution but isvery similar. Another advantage over the normal distribution is that it has aclosed form cdf.pdf is f(x) = ex(1+ex)-2 = F(x)F(-x)Source: Takeshi Amemiya, "Discrete Choice Models," The New Palgrave:Econometrics, and Davidson and MacKinnon, 1993, p 515Contexts: econometrics; statisticslogit model:A univariate binary model. That is, for dependent variable yi thatcan be only one or zero, and a continuous indepdendent variable xi,that:Pr(yi=1)=F(xi'b)Here b is a parameter to be estimated, and F is the logisticcdf.The probit model is the same but with a different cdf for F.Source: Takeshi Amemiya, "Discrete Choice Models," The New Palgrave:EconometricsContexts: econometrics; estimationlognormal distribution:Let X be a random variable with a standard normal distribution. Then thevariable Y=eX has a lognormal distribution.Example: Yearly incomes in the United States are roughly log-normallydistributed.If random variable X is distributed N(m, v), then the random variableY=eX has a lognormal distribution with mean em+.5v andvariance e2m+v(ev-1). A proof is shown by John Norstad;see sources for that.Source: A series of proofs relevant to this distribution is atNorstad's finance proofs.Contexts: statistics; econometricslongitudinal data:a synonym for panel dataContexts: dataLorenz curve:used to discuss concentration of suppliers (firms) in a market. Thehorizontal axis is divided into as many pieces as there are suppliers. Oftenit is given a percentage scale going from 0 to 100. The firms are in order ofdecreasing size. On the vertical axis are the market sales in percentageterms from 0 to 100. The Lorenz curve is a graph of the sales of all thefirms to the right of each point on the horizontal axis.So (0,0) and (100,100) are the endpoints on the Lorenz curve and it is weaklyconvex, and piecewise linear, between. See also Ginicoefficient.Source: Greer, 1992, p. 173Contexts: IOloss function:Or, 'criterion function.' A function that is minimized to achieve a desiredoutcome. Often econometricians minimize the sum of squared errors in makingan estimate of a function or a slope; in this case the loss function is thesum of squared errors. One might also think of agents in a model asminimizing some loss function in their actions that are predicated onestimates of things such as future prices.Contexts: econometrics; models; estimationlower hemicontinuous:No appearing pointsContexts: real analysis; modelsLRD:Longitudinal Research Database, at the U.S. Bureau of the Census. Used in thestudy of labor and productivity. The data is not publicly available withoutspecial certification from the Census. The LRD extends back to 1982.Contexts: data setsLucas critique:A criticism of econometric evaluations of U.S. government policy as theyexisted in 1973, made by Robert E. Lucas. "Keynesian models consisted ofcollections of decision rules for consumption, investment in capital,employment, and portfolio balance. In evaluating alternative policy rules forthe government,.... those private decision rules were assumed to be fixed....Lucas criticized such procedures [because optimal] decision rules of privateagents are themselves functions of the laws of motion chosen by thegovernment.... policy evaluation procedures should take into account thedependence of private decision rules on the government's ... policyrule."In Cochrane's language: "Lucas argued that policy evaluation must beperformed with models specified at the level of preferences ... and technology[like discount factor beta and permanent consumption c* andexogenous interest rate r], which presumably are policy invariant, rather thandecision rules which are not."[I believe the canonical example is: what happens if government changesmarginal tax rates? Is the response of tax revenues linear in the change, oris there a Laffer curve to the response? Thus stated, this is an empiricalquestion.]Source: Sargent, 1979, Ch 14, p. 398; Cochrane, Econ 330notesContexts: macro; public financem-estimators:Estimators that maximize a sample average. The 'm' means'maximum-likelihood-like'. (from Newey-McFadden)The term was introduced by Huber (1967). "The class of M-estimatorsincluded the maximum likelihood estimator, the quasi-maximum likelihoodestimator, multivariate nonlinear least squares" and others. (fromWooldridge, p 2649)I think all m-estimators have scores.Source: Newey-McFadden, Handbook of Econometrics, Ch 36, p 2115;Wooldridge, 1995, p 2649Contexts: econometrics; estimationM1:A measure of total money supply. M1 includes only checkable demanddeposits.Contexts: money; macro; dataM2:A measure of total money supply. M2 includes everything in M1 and alsosavings and other time deposits.Contexts: moneyMA:Stands for "moving average." Describes a stochastic process(here, et) that can be described by a weighted sum of a whitenoiseerror and the white noise error from previous periods. An MA(1)process is a first-order one, meaning that only the immediately previous valuehas a direct effect on the current value:et = ut + put-1where p is a constant (more often denoted q) thathas absolute value less than one, and ut is drawn from adistribution with mean zero and finite variance, often a normal distribution.An MA(2) would have the form:et = ut + p1ut-1 +p2ut-2and so on. In theory a process might be represented by anMA(infinity).Contexts: econometrics; statistics; time seriesMA(1):A first-order moving average process. See MA for details.Contexts: econometricsmacro:Relevant terms: accelerator principle,active measures,asset-pricing function,attractor,balance of payments,balanced growth,basin of attraction,basket,Bellman equation,Beveridge curve,business cycle frequency,capital,capital consumption,capital deepening,capital-augmenting,catch-up,CCAPM,central bank,certainty equivalence principle,CES production function,CES utility,contraction mapping,contractionary fiscal policy,contractionary monetary policy,cost-of-living index,CPI,current account balance,decision rule,demand deposits,depreciation,disintermediation,Divisia index,Domar aggregation,dynamic inconsistency,dynamic multipliers,dynamic optimizations,dynamic programming,economic growth,effective labor,efficiency units,elasticity,embodied,endogenous growth model,Engel effects,equity premium puzzle,ergodic set,Euler equation,Eurosclerosis,expectation,FDI,fiat money,fiscalist view,Fisher effect,Fisher equation,Fisher hypothesis,Fisher Ideal Index,flexible-accelerator model,free entry condition,frictional unemployment,functional equation,GDP,GDP deflator,generator function,GGH preferences,GMM,GNP,Golden Rule capital rate,Harrod-neutral,Hicks-neutral,Hicks-neutral technical change,Hodrick-Prescott filter,hyperbolic discounting,hysteresis,IMF,impulse response function,Inada conditions,inflation,investment,k percent rule,Kalman filter,Kalman gain,Keynes effect,Kuznets curve,labor productivity,labor-augmenting,lag operator,Laspeyres index,Law of iterated expectations,least squares learning,liquidity constraint,liquidity trap,Lucas critique,M1,markup,metaproduction function,monetarism,monetarist view,monetary base,monetary rule,multi-factor productivity,NAIRU,natural rate of unemployment,neoclassical growth model,neutrality,New Classical view,new growth theory,NNP,nondivisibility of labor,numeraire,passive measures (to combat unemployment),Phillips curve,physical depreciation,Pigou effect,price index,pricing kernel,productivity,productivity paradox,property income,putty-putty,Q ratio,quasi-hyperbolic discounting,Ramsey equilibrium,Ramsey outcome,rational expectations,RBC,real business cycle theory,recession,reservation wage property,Ricardian proposition,risk free rate puzzle,RMPY,saddle point,Schumpeterian growth,sink,Smithian growth,Solovian growth,Solow growth model,Solow residual,source,stabilization policy,stable steady state,state price vector,state-space approach to linearization,stochastic difference equation,Stolper-Samuelson theorem,structural unemployment,substitution bias,superneutrality,technical change,technology shocks,tertiary sector,TFP,time consistency,time deposits,Tobin's marginal q,total factor productivity,trajectory,transient,transversality condition,unemployment,value function,VARs,vintage model,Walrasian model,welfare capitalism,Wold's theorem.Contexts: fieldsmain effect:As contrasted to interaction effect.In the regressionyi = aXi + bXZi + cZi + errorsThe bXZi term measures the interaction effect. The main effect iscZi.This term is usually used in an ANOVA context, where its meaning is presumablyanalogous but this editor has not verified that.Source: Phrasing example drawn fromHamermesh, Daniel S. "The Art of Labormetrics." NBER Working paper 6927.February 1999.http://www.nber.org/papers/w6927Contexts: statistics; econometricsmaintained hypothesis:An ambiguous term. Probably it is wise to avoid it.Most common meaning: synonym for alternative hypothesis. "Themodel in which the restrictions do not hold is usually called the alternativehypothesis, or sometimes the maintained hypothesis, and may be denotedH1." (Davidson and MacKinnon, 1993, p. 78).However Greene, 1993/7, third edition, defines it to mean precisely theopposite. From p. 155: "The formal procedure involves a statement of thehypothesis, usually in terms of a 'null' or maintained hypothesis and an'alternative,' conventionally denoted H0 and H1,respectively."Source: Davidson and MacKinnon, 1993, p 78-79.Greene, 1993, 3rd edition, p 155.Contexts: econometrics; estimationMalmquist index:An index number enabling a productivity comparison between economy A andeconomy B.Imagine that we have an aggregate production functionQAA=fA(KA,LA) that describeseconomy A and an aggregate productionQBB=fB(KB,LB) that describeseconomy B. K and L stand for capital and labor inputs. We substitute theinputs of B into the production function of A to computeQAB=fA(KB,LB). We also computeQBA=fB(KA,LA) with the inputs fromcountry A.The Malmquist index of A with respect to B is the geometric meanofQAA/QAB and QBA/QBB. It will begreater than one if A's aggregate production technology is better thanB's.Source: Hulten, 2000, pp 26-27.Contexts: index numbersMANOVA:This is a generalization of the ANOVAstatistical model. It allowsmultiple dependent variables. Output is reported as one or more multivariatetest statistics which are asymptotically equivalent but differ in their smallsample properties. These tests include Wilks's lambda, Pillai's trace,Lawley-Hotelling trace, and Roy's largest root. If the test statistics aresignificantly different from zero, the hypothesis that there is no differencebetween the multidimensional mean vectors of the categories isrejected.Source: Stata manualsContexts: statistics; sociologymantissa:Fractional part of a real number.MAR:a rare abbreviation, for moving-average representationContexts: econometricsMarch CPS:Also known as the Annual Demographic File. Conducted in March of each year bythe Census Bureau in the U.S. Gets the information from the regular monthlyCPS survey, plus additional data on work experience, income, noncash benefits,and migration.Source: Blanchflower and Oswald, Ch 4, p. 171Contexts: datamarginal significance level:a synonym for 'P value'Source: Davidson and MacKinnon, 1993, p 78-79Contexts: econometrics; estimationmarket:An organized exchange between buyers and sellers of a good or service.Contexts: modelsmarket capitalization:Total number of shares times the market price of each. May be said of afirm's shares, or of all the shares on an equity market.Contexts: financemarket failure:A situation, usually discussed in a model not in the real world, in which thebehavior of optimizing agents in a market would not produce a Paretooptimalallocation. Sources of market failures:-- monopoly. Monopoly or oligopoly producers have incentives to underproduceand to price above marginal cost, which then gives consumers incentives to buyless than the Pareto optimal allocation.-- externalitiesSource: Layard and Glaister, 1972, p 15Contexts: general equilibrium; publicmarket for corporate control:Shares of public firms are traded, and in large enough blocks this meanscontrol over corporations is traded. That puts some pressure on managers toperform, otherwise their corporation can be taken over.Source: Jensen and Ruback, 1983Contexts: corporate financemarket power:Power held by a firm over price, and the power to subdue competitors.Contexts: IOmarket power theory of advertising:That established firms use advertising as a barrier to entry through productdifferentiation. Such a firm's use of advertising differentiates its brandfrom other brands to a degree that consumers see its brand is a slightlydifferent product, not perfectly substituted by existing or potentialcompetitors. This makes it hard for new competitors to gain consumeracceptance.Contexts: IOmarket price of risk:Synonym for Sharpe ratio.Contexts: financeMarkov chain:A stochastic process is a Markov chain if:(1) time is discrete, meaning that the time index t has a finite or countablyinfinite number of values;(2) the set of possible values of the process at each time is finite orcountably infinite; and(3) it has the Markov propertyof memorylessness.Source: Hoel, Port, and Stone, 1987, pg v and pg 1Contexts: time seriesMarkov perfect:A characteristic of some Nash equilibria. "A Markov perfectequilibrium (MPE) is a profile of Markov strategiesthat yields a Nashequilibrium in every proper subgame." A Markov strategy is one that doesnot depend at all on variables that are functions of the history of the gameexcept those that affect payoffs.A tiny change to payoffs can discontinuously change the set of Markov perfectequilibria, because a state variable with a tiny effect on payoffs can be partof a Markov perfect strategy, but if its effect drops to zero, it cannot beincluded in a strategy; that is, such a change makes many strategies disappearfrom the set of Markov perfect strategies.Source: Fudenberg and Tirole, 1991/1993, p 501-2; originallydefined in Maskin, E., and J. Tirole (1988), "A Theory of DynamicOligopoly: I & II," Econometrica 56:3, 549-600.Contexts: game theoryMarkov process:A stochastic process where all the values are drawn from a discrete set. In afirst-order Markov process only the most recent draw affects the distributionof the next one; all such processes can be represented by a Markov transitiondensity matrix. That is,Pr{xt+1 is in A | xt, xt-1,...} =Pr{xt+1 is in A | xt}Example 1: xt+1 = a + bxt + et is a MarkovprocessFor a=0, b=1 it is a martingale.A Markov process can be periodic only if it is of higher than firstorder.Contexts: models; statisticsMarkov property:A property that a set of stochastic processes may have. The system has theMarkov property if the present state predicts future states as well as thewhole history of past and present states does -- that is, the process ismemoryless.Source: Hoel, Port, and Stone, 1987, pg v and pg 1Contexts: time seriesMarkov strategy:In a game, a Markov strategy is one that does not depend at all onstate variables that are functions of the history of the game except thosethat affect payoffs.[Ed.: I believe random elements can be in a Markov strategy: e.g. a mixedstrategy could be a Markov strategy.]Source: Tirole, 1988/1993, p 343; Fudenberg andTirole, 1991/1993, p 502Contexts: game theory; IOMarkov transition matrix:A square matrix describing the probabilities of moving from one state toanother in a dynamic system. In each ?row? are the probabilities of movingfrom the state represented by that row, to the other states. Thus the rows ofa Markov transition matrix each add to one. Sometimes such a matrix isdenoted something like Q(x' | x) which can be understood this way: that Q is amatrix, x is the existing state, x' is a possible future state, and for any xand x' in the model, the probability of going to x' given that the existingstate is x, are in Q.(An example would be good here)Contexts: modelsMarkov's inequality:Quoting almost strictly from Goldberger, 1994, p31:If Y is a nonnegative random variable, that is, if Pr(Y>0)=0, and k is anypositive constant, then E(Y) ≥ kPr(Y ≥ k).The proof is amazingly quick. See Goldberger page 31 or Hogg and Craig page68.Source: goldberger, hogg and craigContexts: statisticsmarkup:In macro, the ratio of price to marginal cost. Can be used as a measure ofmarket power across firms, industries, or economies.Contexts: macro; modelsMarshallian demand function:x(p,m) -- the amount of a factor of production that is demanded by a producergiven that it costs p per unit and the budget limit that can be spent on allfactors is m. p and x can be vectors.Source: Varian, 1992Contexts: production theory; micromartingale:Same as martingale difference sequence.Contexts: statistics; econometricsmartingale difference sequence:** This definition is not usable as is **A stochastic process {Xt} is a martingale (or, equivalently,martingale difference sequence) with respect to information {Yt} ifand only if:(i) E|Xt|(ii) E[Xn+1 | Y0, Y1, ... , Yn] =XnE(gt+1) = gt.Martingale differences are uncorrelated but not necessarilyindependent.Contexts: statistics; econometricsmass production:"A production system characterized by mechanization, high wages, low prices,and large-volume output." (Hounshell, p.305) Usually refers to factoryprocesses on metalwork, not to textiles or agriculture. The term came intouse in the 1920s and referred to production approaches analogous to those ofthe Ford Motor Company in the US.Source: Hounshell, David. 1984. From the American System to MassProduction, 1800-1932. Johns Hopkins University Press. p. 305.Contexts: historyMatching Pennies:A zero-sum game with two players. Each shows either heads or tails from acoin. If both are heads or both are tails then player One wins, otherwise Twowins. The payoff matrix is at right.Player TwoCDPlayer OneC1,-1-1,1D-1,11,-1There is no Nash equilibrium to this game in pure strategies.Source: Varian, 1992, Ch 15Contexts: game theoryMatlab:A matrix programming language and programming environment. Used more byengineers but increasingly by economists. There's a very brief tutorial atTutorial: Matlab.The software is made by The Mathworks,Inc.Contexts: data; codemaximand:In a maximization problem, the maximand is the function to be maximized. Inthe problem being referred to, the operation is the select some parameters orchoices so as to get the highest feasible value from this maximand.Contexts: optimizationmaximin principle:A justice criterion proposed by the philosopher Rawls. A principle about thejust design of social systems -- e.g., rights and duties. According to thisprinciple the system should be designed to maximize the position of those whowill be worst off in it."The basic structure is just throughout when the advantages of the morefortunate promote the well-being of the least fortunte, that is, when adecrease in their advantages would make the least fortunate even worse offthan they are. The basic structure is perfectly just when the prospects oftheleast fortunate are as great as they can be." -- Rawls,1973, p 328Source: Rawls, 1973, p 328Contexts: publicmaximum score estimator:A nonparametric estimator of certain coefficients of a binary choice model.Avoids assumptions about the distribution of errors that would be made by aprobit or logit model in the same circumstances.In the econometric model: the dependent variable yi is either zeroor one; the regressors Xi are multiplied by a parameter vectorb. yi often represents which of twochoices was selected by a respondent. b isestimated to maximize an objective function that is given by anexpression:maxb sumi=1 to N[(yi-.5)sign(Xib)]where i indexes observations, of which there are N, and the function sign()has value one if its argument is greater than or equal to zero, and has valuezero otherwise.b chosen this way has the property that itmaximizes the correct prediction of yi given the information in X.Notice that although the maximum value of the maximand may be well defined,b is not usually uniquely estimated in a finitedata set, because values of b near betahat wouldmake the same predictions. Often, however, b isestimated within a narrow range.Source: Greene, 1993, p 658;Greene, 1997, p 902;Manski, 1975Contexts: econometrics; discrete choice models; estimationMBO:Stands for Management Buy-Out, the purchase of a company by its management.Sometimes means Management By Objectives, a goal-oriented personnel evaluationapproach.Contexts: financemean square error:A criterion for an estimator: the choice is the one that minimizes the sum ofsquared errors due to bias and due to variance.Source: Kennedy, 1992, p. 16Contexts: econometricsmean squared error:The mean squared error of an estimator b of true parameter vector B is:MSE(b) = E[(b - B)2]which is alsoMSE(b) = var(b) + (bias(b))(bias(b)')Source: Greene, 1993, p 94Contexts: econometrics; estimationmeasurable:If (S, A) is a measurable space, elements of A areA-measurable.Contexts: math; measure theory; real analysismeasurable space:(S, A) is a measurable space if S is a set and A is asigma-algebra of S.Elements of A are said to be A-measurable.Contexts: math; measure theory; real analysismeasure:A noun, in the mathematical language of measure theory: a measure is afunction from sets to the real line. Probability is a common kind of measurein economic models. Other measures are the counting measure, which is thenumber of elements in the set, the length measure, the area measure, and thevolume measure. Length, area, and volume are defined along lines, planes, andspaces just as one would expect, and they have the natural meanings.Formally: a measure is a mapping m from a sigma algebra A to theextended real line such that(i) m(null) = 0(ii) m(B) <= 0 for all B in A(iii) m(any countable union of disjoint sets in A) = the sum of m(eachof those sets)The third property is called the countable additivity property.An example: imagine probability mass distributed evenly on a unit square.Probability is then defined on any area within the square. The measure(probability, here) is the size (area) of the subset.The kinds of subsets on which measures such as probability are defined arecalled sigma-algebras (which see).Contexts: math; measure theory; real analysismeasure theory:Relevant terms: B1,Borel set,Borel sigma-algebra,countable additivity property,measurable,measurable space,measure,sigma-algebra.Contexts: fieldsmeasurement error:The data used in an econometric problem may have been measured with someerror, and if so this violates a basic condition of the abstractenvironment in which OLSis validly derived. This turns out not to beseriously problematic if the dependent variable is affected by an iidmean-zero measurement error, but if the regressors have been measured with amean-zero iid error the estimates can be biased. There are standardapproaches to this problem, notably the use of instrumental variables.Paraphrasing from Schennach, 2000, p 1: In a linear econometricspecification, a measurement error on the regressors can be viewed as aparticular type of endogeneity problem causing the disturbance to becorrelated with the regressors, which is precisely the problem addressed bystandard IV techniques.Source: Schennach, Susanne M. "Estimation of nonlinear models withmeasurement error." MIT Department of Economics working paper, dated Jan14, 2000.mechanism design:A certain class of principal-agent problems are called mechanism designproblems. In these, a principal would like to condition her own actions onthe private information of agents. The principal must offer incentives forthe agents to reveal information.Examples from the theoretical literature are auctiondesign,monopolistic price discrimination, and optimal taxation. In an auctionthe seller would like to set a price just below the highest valuation of apotential buyer, but does not know that price, and an auction is a mechanismto at least partially reveal it. In a price discrimination, the seller wouldlike to offer the product at different prices to groups with differentvaluations but may not be able to identify which group an agent is a member ofin advance.Source: Fudenberg and Tirole, 1993, p 243Contexts: game theorymedium of exchange:A distinguishing characteristic of money is that it is taken as a medium ofexchange, that is, in the language of Wicksell (1935) p. 17, that it is"habitually, and without hesitation, taken by anybody in exchange for anycommodity."Source: Bennett T. McCallum, "Comments on 'A Model of Commodity Money' byThomas J. Sargent and Neil Wallace", Journal of Monetary Economics12, July 1983, pp. 189-196.Contexts: moneymeet:Given a space of possible events, the meet is the finest common coarsening ofthe information sets of all the players. The meet is the finest partition ofthe space of possible events such that all players have beliefs about theprobabilities of the elements of the partition.Contexts: micro theory; informationmesokurtic:An adjective describing a distribution with kurtosis of 3, like the normaldistribution. See by contrast leptokurtic and platykurtic.Source: Davidson and MacKinnon, 1993, p 62Contexts: statisticsmetaproduction function:Means best-practice production function -- depending on context, either themost efficient feasible practice, or most efficient actual practice of theexisting entities converting inputs X into output y. Often in practice y isan agricultural output, and data from a sample of farms, and themeta-production function could be estimated by estimating production functionsfor the farms and choosing among the most efficient ones. In the (macro)context of the quote below, the entities are not farms but countries,producing GDP."The term 'meta-production function' is due to Hayami and Ruttan (1970, 1985).For an exposition of the meta-production function approach, see Lau andYotopoulos (1989) and Boskin and Lau (1990).... The two most importantmaintained hypotheses [of this approach] are: (1) that the aggregateproduction functions of all countries are identical in terms of'efficiency-equivalent' units of output and inputs; and (2) that technicalprogress in all countries can be represented in the commodity-augmentationform, with constant geometric augmentation factors...." The framework allows"the researcher to consider and potentially to reject the maintainedhypotheses of traditional growth accounting [such as] (1) constant returns toscale, (2) neutrality of technical progress; and (3) profit maximization."(p66) An assumption related to the second maintained hypothesis above, whichthe theory depends on (p69) is that "the measured outputs and inputs of thedifferent countries may be converted into unobservable standardized, or'efficiency-equivalent,' quantities of output and inputs by multiplicativecountry- and output- and input-specific time-varying augmentation factors...."(where "time-varying" seems to conflict with the requirement, above, that theaugmentation factors be "constant".) (p69) In this approach "countries maydiffer in the quantities of their factor inputs and intensities and possiblyin the qualities and efficiencies of their inputs and outputs, but they do notdiffer with regard to the technological opportunities .... [T]hey are assumedto have equal access to technologies."From p66, 69, 73 of Lau (1996).Source: Lau, Lawrence J. 1996. "The Sources of Long-Term Economic Growth:Observations from the Experience of Developed and Developing Countries." InMosaic of Economic Growth, edited by Ralph Landau, Timothy Taylor, andGavin Wright. Stanford University Press.With thanks to: Randal KinoshitaContexts: international; macro; agriculturalmetatheorem:An informal term for a proposition that can be proved in a class of economicmodel environments.Contexts: modelsmethod of moments:A way of generating estimators: set the distribution moments equal to thesample moments, and solve the resulting equations for the parameters of thedistribution.Contexts: econometrics; estimationMFP:Abbreviation for Multi-factor productivty.MGF:stands for 'moment generating function', which see.Contexts: econometrics; statisticsMinitab:Data analysis software, discussed at http://www.minitab.com.Contexts: data; softwaremixing:In the context of stochastic processes, events A and B (that is, subsets ofpossible outcomes of the process) "are mixing" if they areasymptotically independent in the following way.Let L be a lag operator that moves all time subscripts back by one (e.g.replacing t by t-1). Iff A and B are mixing, then taking the limit as h goesto infinity:lim Pr(A intersected with LhB) = Pr(A)Pr(B).The event Lh is the event B, but h periods ago; it's NOT some kindof stochastic ancestor of B.If two events are independent, they are mixing.If two events are mixing, they are ergodic.I *believe* that a stochastic process is mixing iff all pairs of possiblevalues it can take, taken as events, are mixing.Contexts: probability; econometrics; time seriesMLE:maximum likelihood estimatorContexts: econometrics; estimationMLRP:Abbreviation for monotone likelihood ratio propertyof a statisticaldistribution.Contexts: micro theorymodels:Generally means theoretical or structural models. Can also meaneconometric modelswhich in this glossary are listed separately.Relevant terms: annihilator operator,APT,asset-pricing function,attractor,barter economy,basin of attraction,Bellman equation,budget set,CAPM,CARA utility,cash-in-advance constraint,certainty equivalence principle,CES production function,CES technology,CES utility,CGE,Cobb-Douglas production function,cobweb model,coefficient of absolute risk aversion,coefficient of relative risk aversion,complete market,conditional factor demands,constant returns to scale,consumption set,contract curve,contraction mapping,control variable,core,cost function,costate,Cournot duopoly,CRRA,decision rule,demand set,dictator game,discount factor,discount rate,double coincidence of wants,dynamic optimizations,dynamic programming,economic environment,efficiency wage hypothesis,efficiency wages,endowment,Engel curve,equilibrium,Euler equation,ex ante,ex post,First Welfare Theorem,Fisherian criterion,functional equation,future-oriented,game,GARP,Gaussian white noise process,generalized Wiener process,GGH preferences,Gorman form,Hahn problem,Hicks-neutral technical change,hyperbolic discounting,hysteresis,IC constraint,IIA,implicit contract,impossibility theorem,Inada conditions,indirect utility function,individually rational,inside money,IR constraint,Ito process,Keynes effect,L,L,L,lag operator,lag polynomial,Law of iterated expectations,leisure,lemons model,Leontief production function,locally nonsatiated,log-concave,log-convex,loss function,lower hemicontinuous,market,Markov process,Markov transition matrix,markup,maximum score estimator,metatheorem,Modigliani-Miller theorem,monetized economy,money,money-in-the-utility-function models,Nash product,NBS,NE,netput,neutrality,numeraire,offer curve,OLG,outside money,parametric,Pareto optimal,Pareto set,payoff matrix,phase portrait,Pigou effect,PO,Poisson process,precautionary savings,present-oriented,principle of optimality,production set,putty-putty,Q ratio,quasi-hyperbolic discounting,quasilinear,random process,random walk,RBC,real business cycle theory,Ricardian proposition,risk,saddle point,Schwarz Criterion,Second Welfare Theorem,sharing rule,Shubik model,single-crossing property,sink,social planner,social welfare function,source,SPE,SPO,stable steady state,staggered contracting,state price,state price vector,state-space approach to linearization,stochastic difference equation,stochastic process,strict version of Jensen's inequality,strongly Pareto Optimal,subdifferential,subgame perfect equilibrium,superneutrality,technology shocks,total factor productivity,Townsend inefficiency,trajectory,transversality condition,uncertainty,upper hemicontinuous,utility curve,value function,WACM,Walrasian auctioneer,Walrasian equilibrium,WAPM,WE,weakly Pareto Optimal,white noise process,WPO.Contexts: fieldsmodernization:Quoting from Landes: "Modernization comprises such developments asurbanization (the concentration of the population in cities that serve asnodes of industrial production, administration, and intellectual and artisticactivity); a sharp reduction in both death rates and birth rates fromtraditional levels (the so-called demographic transition); the establishmentof an effective, fairly centralized bureaucratic government; the creation ofan educational system capable of training and socializing the children of thesociety to a level compatible with their capacities and best contemporaryknowledge; and, of course, the acquisition of the ability and means to use anup-to-date technology."Source: Landes, 1969/1993, p 6Contexts: historyModigliani-Miller theorem:that the total value of the bonds and equities issued by a firm in amodel is independent of the number of bonds outstanding or their interestrate.The theorem was shown by Modigliani and Miller, 1958 in aparticular context with no fixed costs, transactions costs, asymmetricinformation, and so forth. Analogous theorems are shown in various contexts.The assumptions made by such theorems offer a way of organizing what it wouldbe that makes corporations choose to offer various levels of bonds. Thechoice of numbers and types of bonds and stocks a corporation offers is thechoice of capital structure. Among the factors affecting the capitalstructure of a firm are taxes, bankruptcy costs, agency costs, signalling,bargaining position in litigation, and differences between firms and investorsin access to capital markets.Source: Sargent, 1987, Ch 3;Modigliani and Miller, 1958Contexts: finance; modelsmoment-generating function:Denoted M(t) or MX(t), and describes a probability distribution. Amoment-generating function is defined for any random variable X with a pdff(x).M(t) is defined to be E[etX], which is the integral from minusinfinity to infinity of etXf(x).A use for these is that the tth moment of X is M(t)(0),that is the tth derivative of M() at zero.Contexts: econometrics; statisticsmonetarism:The view that monetary policy is a prime source of the business cycle, andthat the time path of the money stock is a good index of monetary policy. Aspresented by Milton Friedman and Anna Schwartz, monetarism emphasizes therelation between the level of the money stock and the level of output withouta detailed theory of why changes in the money stock are not neutral in theshort run. Later versions posed an explicit basis for noneutrality in theform of barriers to information flow about prices.In policy terms monetarists, notably Friedman, advocated a monetaryrule, that is, a steady growth in the money supply to match economicgrowth, without allowing central banks room for discretion. If the rule iscredible, public expectations of inflation be low, and thus inflation itself,if high, would fall almost immediately.Source: Sims, "Comparison of Interwar and Postwar Business Cycles:MonetarismReconsidered"Contexts: macro; money; policymonetarist view:In extreme form: that only the quantity of money matters by way of aggregatedemand policy. Relevant only in an overheated economy (Branson p391).Source: BransonContexts: money; macromonetary base:In a modern industrialized monetary economy, the monetary base is made up of(1) the currency held by individuals and firms and (2) bank reserveskept within a bank or on deposit at the central bank.Contexts: money; macromonetary regime:"A monetary regime can be thought of as a set of rules governing theobjectives and the actions of the monetary authority."Examples: (1) "A gold standard is one example of a monetary regime --the monetary authority is obligated to maintain instant convertibility betweenits liabilities and the gold. Th monetary authority may have considerableroom to maneuver in that monetary regime, but it can do nothing that wouldcause it to violate its commitment."(2) "The same remarks would apply to a monetary regime obligating themonetary authority to maintain a fixed exchange rate between its own andanother currency."(3) "A monetary regime of a very different sort could be based on aMonetarist rule specifying the rate of growth of some monetary aggregate. Thebasic distinction is between regimes based on a convertibility or redemptionprinciple and those based on a quantity principle."Source: Glasner, p 206Contexts: moneymonetary rule:See the policy discussion in monetarism.Contexts: macro; moneymonetized economy:A model economy that has a medium of exchange: moneySource: Bennett T. McCallum, "Comments on 'A Model of Commodity Money' byThomas J. Sargent and Neil Wallace", Journal of Monetary Economics 12,July 1983, pp. 189-196.Contexts: money; modelsmoney:A good that acts as a medium of exchange in transactions. Classically it issaid that money acts as a unit of account, a store of value, anda medium of exchange. Most authors find that the first two arenonessential properties that follow from the third. In fact, other goods areoften better than money at being intertemporal stores of value, since mostmonies degrade in value over time through inflation or the overthrow ofgovernments.Theory: Ostroy and Starr, 1990, p. 25, define money in certain models"as a commodity of positive price and zero transaction cost that does notdirectly enter in production or consumption."History: See this Web site on the History of Money.Related terms: Relevant terms: bank note,barter economy,bill of exchange,bimetallism,Bretton Woods system,capital ratio,cash-in-advance constraint,central bank,demand deposits,double coincidence of wants,dynamic inconsistency,EMS,Eurodollar,Fed Funds Rate,fiat money,Fisher effect,Fisher equation,Fisher hypothesis,free reserves,Friedman rule,fungible,Gresham's Law,Hahn problem,high-powered money,inflation,inside money,k percent rule,liquidity,liquidity constraint,M1,M2,medium of exchange,monetarism,monetarist view,monetary base,monetary regime,monetary rule,monetized economy,money,money illusion,money-in-the-utility-function models,neutrality,outside money,seignorage,Shubik model,specie,speculative demand,storable,superneutrality,time deposits,Townsend inefficiency,transactions demand.Contexts: money; modelsmoney illusion:"the belief that money [that is, a particular currency] represents a constantvalue"Source: Hayek, 1978, Ch 3Contexts: moneymoney-in-the-utility-function models:A modeling idea. In a basic Arrow-Debreu general equilibrium there is no needfor money because exchanges are automatic, through a 'Walrasian auctioneer'.To study monetary phenomena, a class of models was made in which money was agood that brought direct utility to the agent holding it; e.g., a utilityfunction took the form u(x,m) where x is a vector of other commodities, and mis a scalar quantity of real money held by the agent. Using this mechanismmoney can have a positive price in equilibrium and monetary effects can beseen in such models. Contrast 'cash-in-advance constraint' for an alternativeapproach.Source: Ostroy and Starr, 1990, pp 6-7Contexts: money; modelsmonopoly:If a certain firm is the only one that can produce a certain good, it has amonopoly in the market for that good.Contexts: IOmonopoly power:The degree of power held by the seller to set the price for a good. In U.S.antitrust law monopoly power is not measured by market share.(Salonmagazine, 1998/11/11)Contexts: IOmonopsony:A state in which demand comes from one source. If there is only one customerfor a certain good, that customer has a monopsony in the marketfor that good.Analogous to monopoly, but on the demand side not the supply side.A common theoretical implication is that the price of the good is pusheddown near the cost of production. The price is not predicted to go tozero because if it went below where the suppliers are willing to produce,they won't produce.Market poweris a continuum from perfectly competitive tomonopsony and there's an extensive practice/industry/science of measuring thedegree of market power.Examples: For workers in an isolated company town, created by and dominatedby one employer, that employer is a monopsonist for some kinds of employment.For some kinds of U.S. medical care, the government program Medicare is amonopsony.Contexts: IOmonotone likelihood ratio property:A property of a set of pdfs which is assumed in theoretical models tocharacterize risk and uncertainty because it makes more conclusions feasibleand is often plausible.Example: Let e ("effort") be an input variable into a stochastic productionfunction, and y be the random variable that represent output. Let f(y | e) bethe pdf of y for each e. Then the statement that f() has the monotonelikelihood ratio property (MLRP) is the same as the statement that:for e2<e1, f(y|e2)/f(y|e1) is increasing in y.This says that output is positively related to effort, and something stronger,something like: of two outcomes or ranges of outcomes, the worse one will notbecome relatively more likely than the better one if effort were to rise. Byrelatively more likely is meant that the likelihood ratio, above,rises.The set of pdfs for which the MLRP is assumed above is the set of f()'sindexed by values of e. Each holds that specified relationship to the others.In practice the MLRP assumption tends to rule out multimodal classes ofdistributions, and this is its main effect. (By multimodal we mean those withmultiple-peaked pdfs.)Normally e is scalar, taking on either discrete or continuous sets of values.An analogous definition, for a multidimensional (vector) e, is feasible.Whether it is used in existing models is not known to this author.Source: Milgrom, 1981, p 383Contexts: micro theorymonotone operator:An operator that preserves inequalities of its arguments. That is, if T is amonotone operator, then: (i) iff x<y, then Tx<Ty, and iff x>y, thenTx>Ty.Same basic meaning as monotone transformation.The most common monotone operator is the natural log function. For example inmaximum likelihoodestimation, one usually maximizes the log of thelikelihood function, not the likelihood function itself, because this is moretractable and the log is a monotone operator so it doesn't change theanswer.monotone transformation:A transformation that preserves inequalities of its arguments. That is, if Tis a monotone transformation, then: (i) iff x<y, then Tx<Ty, and iffx>y, then Tx>Ty.Same basic meaning as monotone operator.monotonic transformation:A transformation that preserves inequalities of its arguments. That is, if Tis a monotone transformation, then: (i) iff x<y, then Tx<Ty, and iffx>y, then Tx>Ty.Same as monotone operator(which see, for more details) or monotonetransformation.Monte Carlo simulations:These are data obtained by simulating a statistical model in which allparameters are numerically specified.One might use Monte Carlo simulations to test how an estimation procedurewould behave, for example under conditions when exact analytic descriptions ofthe performance of the estimation are not algebraically feasible, or when onewants to verify that one's analytic calculation for a confidence interval iscorrect.Contexts: statistics; econometricsMoore-Penrose inverse:Same as pseudoinverse.Source: Greene, 1993, p 37Contexts: econometricsmorbidity:Incidence of ill health. It is measured in various ways, often by theprobability that a randomly selected individual in a population at some dateand location would become seriously ill in some period of time. Contrast tomortality.Contexts: demography; historymortality:Incidence of death in a population. It is measured in various ways, often bythe probability that a randomly selected individual in a population at somedate and location would die in some period of time. Contrast tomorbidity.Contexts: demography; historyMSA:Same as SMSA.Contexts: dataMSE:mean squared error (which see)Contexts: econometrics; estimationmulti-factor productivity:Same as total factor productivity, a certain type of Solowresidual.MFP = d(ln f)/dt = d(ln Y)/dt - sLd(ln L)/dt - sKd(lnK)/dtwhere f is the global production function; Y is output; t is time;sL is the share of input costs attributable to labor expenses;sK is the share of input costs attributable to capital expenses; Lis a dollar quantity of labor; K is a dollar quantity of capital.Source: paraphrased from Dean & Harper, Feb. 1998Contexts: macromultinomial:In the context of discrete choice models, multinomial means there are morethan two possible values of the dependent variable, the choice, which is ascalar.For specific constructions see multinomial logitand multinomialprobit.Contexts: econometricsmultinomial logit:Relatively easy to compute but has the problematic IIAproperty byconstruction. Multinomial probit with correlation between structuralresiduals does not suffer from the IIA problem but is computationallyexpensive. (Ed.: I don't know why the IIA problem gets sucked into this whenthe actual different between logit and probit is the functional form.)Multinomial logit is available in more software packages than is multinomialprobit.Source: Broadcast by Clint Cummins of TSP International to rec.econ.researchcirca Jun 28, 2000.Contexts: econometricsmultinomial probit:Multinomial probit with correlation between structural residuals does notsuffer from the IIA problem but is computationally expensive. Multinomiallogit which solves a similar problem is relatively easy to compute but has theproblematic IIAproperty by construction. (Ed.: I don't know why theIIA problem gets sucked into this when the actual different between logit andprobit is the functional form.) Multinomial logit is available in moresoftware packages than is multinomial probit.Source: Broadcast by Clint Cummins of TSP International to rec.econ.researchcirca Jun 28, 2000.Contexts: econometricsmultivariate:A discrete choice model in which the choice is made from a set with more thanone dimension is said to be a multivariate discrete choice model.Contexts: econometrics; statisticsMundell-Tobin effect:That nominal interest rates would rise less than one-for-one with inflationbecause in response to inflation the public would hold less in money balancesand more in other assets, which would drive interest rates down.Source: G. Thomas Woodward, The Review of Economics and Statistics, 1992, p316mutatis mutandis:"The necessary changes having been made; substituting newterms."Source: American Heritage Dictionary, 1982, p 825Contexts: phrasesMVN:An abbrevation for 'multivariate normal' distribution.Contexts: statisticsNadaraya-Watson estimator:Used to estimate regression functions based on data {Xi,Yi}. See the equation in the middle of Hardle's page 25. Theequation produces an estimate for Y at any requested value of X (not only thevalues of X in the source data), using as input (1) the data set{Xi, Yi}, and (2) a kernel functiondescribingthe weights to be put on values in the data set near X in estimating Y. Thekernel function itself can be parameterized by the choice of its functionalform and its 'bandwidth' which scales its width in the X-direction.Source: Hardle, 1990Contexts: econometrics; estimation; nonparametricsNAICS:North American Industry Classification System, a set of industry categoriesstandardized between the U.S. and Canada. In the U.S. it is taking over fromthe SICcode system.For details seehttp://www.census.gov/epcd/naics02/naicod02.htm.Source: IO; dataNAIRU:Non-Accelerating Inflation Rate of Unemployment. That is, a steady stateunemployment rate above which inflation would fall and below which inflationwould rise. By some estimates the NAIRU is 6% in the U.S.NAIRU is approximately a synonym for the natural rate of unemployment.Paraphrased from Eisner's article: The essential hypotheses of the theory thatthere is a stable NAIRU are that (1) an existing rate of inflationself-perpetuates by generating expectations of future inflation; (2)higher unemployment reduces inflation and lower unemployment raisesinflation.Source: Robert Eisner, "Nothing to Fear but Fear of Good News",Wall Street Journal, July 9, 1996.Contexts: macronarrow topology:Synonym for weak topology.Source: Christopher Harris and Patrick Bolton, 1997, "The continuous-timeprincipal-agent problem: first-best risk-sharing contacts and theirdecentralization", unpublished paper, p. 6Contexts: real analysis; micro theoryNASDAQ:National Association of Securities Dealers automatic quotation market. Amostly-electronic market of stocks in the United States. There is no 'pit' --market makers in each stock offer buy and sell prices which aredifferent.Contexts: finance; businessNash equilibrium:Sets of strategies for players in a noncooperative gamesuch that nosingle one of them would be better off switching strategies unless others did.Formally: Using the normal formdefinitions, let utility functions asfunctions of payoffs for the n players u1() ... un() andsets of possible actions A=A1 x ... x An, be commonknowledge to all the players. Also define a-i as the vector ofactions of the other players besides player i. Then a Nash equilibrium is anarray of actions a* in A such that ui(a*) <=ui(a-i* | ai) for all i and allai in Ai.In a two-player game that can be expressed in a payoff matrix, one cangenerally find Nash equilibria if there are any by, first, crossing outstrictly dominated strategiesfor each player. After crossing out anystrategy, consider again all the strategies for the other player. When donecrossing out strategies, consider which of the remaining cells fail to meetthe criteria above, and cross them out too. At the end of the process, eachplayer must be indifferent among his remaining choices, GIVEN the action ofthe others.In most noncooperatives games of interest, each player has to calculate whatthe strategies of the others will be before his own Nash equilibrium strategycan become clear. Introspection may also be needed to envision his ownpayoffs. This approach tends to presume that the payoffs are known, orknowable, and that the players are rational. An alternative line of thoughtwith its own detailed theory, is that the players can arrive at Nashequilibria by repeated experimentation, searching for an optimal strategy.Theories of learning and evolutionary game theoryare related.A Nash equilibrium represents a prediction if there is a real world analog tothe game.Source: Notes from Asher WolinskyContexts: game theoryNash product:The maximand of the Nash Bargaining Solution:(s1-d1)(s2-d2)where d1 and d2 are the threat points, and s1and s2 are the shares of the good to be divided.Contexts: game theory; modelsNash strategy:The strategy of a player in a Nash equilibrium.Contexts: game theorynational accounts:A measure of macroeconomic categories of production and purchase in a nation.The production categories are usually defined to be output in currency unitsby various industry categories, plus imports. (Output is usuallyapproximately the same as industry revenue.) The purchase categories areusually government, investment, consumption, and exports, or subsets of these.The amount produced is supposed to be approximately equal to the amountpurchased. Measures are in practice made by national governments.a different definition, by Peter Wardley:national accounts: a measure of all the income received by economic actorswithin an economy. It can be measured as expenditure (on investment andconsumption), income (wages, salaries, profits and rent) or as the value ofoutput (expenditure of all goods and services). Inevitably these threedifferent methods of estimating national accounts will produce differentresults but these discrepancies are usually relatively small.With thanks to: Peter Wardleynational innovation systems:A research topic in which it is investigated how differences in nationalinstitutions and characteristics of the economic environment produce differentkinds of innovation and adoption of technologies in differentcountries.Examples of institutions which differ between industrialized countries includeuniversities, government funding of research, and the role of militaryresearch. Structural differences can include the country's size, openness totrade, and idea flow.This framing, drawn from Mancusi (2004), p. 272 has been attributed to Nelson(1993).(Ed.: It does not seem to be acknowledged in this literature that therelation between innovations made in country X and the technology used by theeconomic actors in country X can be quite weak, since technologies diffuse somuch. The idea that the technologies used in the macroeconomy of a tinycountry are closely related to the government's sponsorship of research inthat country breaks down almost completely if the country is tiny enough andopen enough. This effect may have become more extreme in recent years inwhich international trade is so great and the Web so easy to use.)Source: Mancusi, Maria Luisa. "Georgraphical concentration and the dynamicsof countries' specialization in technologies" Economics of Innovation andNew Technology 2003, vol 12:3, pp. 269-291.Nelson, Richard R. 1993. National Innovation Systems: A ComparativeAnalysis. Oxford University Press.natural experiment:If economists could experiment they could test some theories more quickly andthoroughly than is now possible. Sometimes an isolated change occurs in oneaspect of the economic environment and economists can study the effects ofthat change as if it were an experiment; that is, by assuming that every otherexogenous input was held constant.An interesting example is that of the U.S. ban on the television and radiobroadcast of cigarette advertising which took effect on Jan 2, 1971. The banseems to have had substantial effects on industry profitability, the rate ofnew entrants, the rate of consumers switching brands and types of cigarettes,and so forth. The ban can be used as a natural experiment to test theories ofthe effects of advertising.Contexts: history; datanatural increase:population increase due to more births and less mortalitynatural rate of unemployment:"The natural rate of unemployment is the level which would be ground outby the Walrasian system of general equilibrium equations, provided that thereis [e]mbedded in them the actual structural characteristics of the labor andcommodity markets, including market imperfections, stochastic variability indemands and supplies, the cost of gathering information about job vacanciesand labor availiabilities, the costs of mobility, and so on."--Milton Friedman, "The Role of Monetary Policy" AER March 1968 1-21This is a long-run rate. Transitory shocks could move unemployment away fromthe natural rate. Real wages would increase with productivity as long asunemployment were kept at the natural rate.Source: Friedman, AER 1968Contexts: macro; laborNBER:The U.S. National Bureau of Economic Research. At 1050 Massachusetts Avenue,Cambridge, MA 02138, USA. Focuses on macroeconomics. Data source by ftp:ftp nber.harvard.edu.NBER web siteContexts: organizationsNBS:Nash Bargaining SolutionContexts: game theory; modelsNE:Nash EquilibriumContexts: game theory; modelsNELS:National Educational Longitudinal Survey, a U.S. survey administered to 24,599eighth grade students from 1052 schools in 1988, with follow-up surveys to thesame students every two years afterward. Many similar questions were asked ofthe parents of the students as well to obtain more accurateinformation.Contexts: dataneoclassical growth model:A macro model in which the long-run growth rate of output per worker isdetermined by an exogenous rate of technological progress, like thosefollowing from Ramsey (1928), Solow (1956), Swan (1956), Cass (1965), andKoopmans (1965).Source: Barri and Sala-i-Martin, 1995, pp. 10-12Contexts: macroneoclassical model:Often means Walrasiangeneral equilibrium model.Describes a model in which firms maximize profits and markets are perfectlycompetive.Contexts: phrasesneolassical:According to Lucas (1998), neoclassical theory has explicit reference topreferences. Contrast classical.Source: Lucas (1998)Contexts: phrases; macro theorynests:We say "model A nests model B" if every version of model B is aspecial case of model A. This can be said of either structural (theoretical)or estimated (econometric) models.Example: Model B is "Nominal wage is an affine function of the age ofthe worker." Model A is "Nominal wage is an affine function of theage and education of the worker." Here model A nests model B.Contexts: phrasesnetput:Stands for "net output". A quantity, in the context of production,that is positive if the quantity is output by the production process andnegative if it is an input to the production process.A technology is often be defined in a model by restrictions on the vector ofnetputs with the dimension of the number of goods.Contexts: general equilibrium; modelsnetwork externalities:The effects on a user of a product or service of others using the same orcompatible products or services. Positive network externalities exist if thebenefits are an increasing function of the number of other users. Negativenetwork externalities exist if the benefits are a decreasing function of thenumber of other users.Katz and Shapiro, 1985 consider two types of positive networkexternalities. A communication externality or direct externality describes acommunication network in which the more subscribers there are the greater theservices provided by the network (e.g. the telephone system or the Internet).An indirect externality or hardware-software externality exists if a durablegood (e.g. computer) is compatible with certain complementary goods orservices (e.g. software) and the owner of the durable good benefits if theirsystem is compatible with a large pool of such complementary goods.Liebowitz and Margolis, 1994 have an insightful commentary onthis subject, and offer among other things the following example: "if agroup of breakfat-eaters joins the network of orange juice drinkers, theirincreased demand raises the price of orange juice concentrate, and thus mostcommonly effects a transfer of wealth from their fellow network members to thenetwork of orange growers." The new group negatively affects the oldgroup without compensation, but it is through the price system and istherefore a pecuniary externality. These authors strongly make thecase that big network externalities are not often observed, and cite evidenceagainst two common examples, the QWERTY and VHS standards.Contexts: IOneutral technological change:Refers to the behavior of technological change in models. Barro andSalai-i-Martin (1995), page 33, refer to three types:A technological innovation is Hicks neutral(following Hicks (1932)) ifthe ratio of capital's marginal product to labor's marginal product isunchanged for a given capital to labor ratio. That is: Y=T(t)F(K,L).A technological innovation is Harrod neutral(following Hicks (1932))if the technology is labor-augmenting... contd, see barro p 33 ...neutrality:"Money is said to be neutral [in a model] if changes in the level ofnominal money have no effect on the real equilibrium." -- Blanchard andFisher, p. 207.Money might not be neutral in a model if changes in the level of nominal moneyinduce self-fulfilling expectations or interact with real frictions like fixednominal wages, fixed nominal prices, information asymmetries, or slowreactions by households to adjust their money holding quickly. (This listfrom a talk by Martin Eichenbaum, 11/11/1996.)Source: Blanchard and Fischer p. 207Contexts: macro; money; modelsNew Classical view:On policy -- that no systematic (that is, predictable) monetary policymatters.Source: BransonContexts: macroNew Economy:A proper noun, describing one of several aspects of the late 1990s. Lipsey(2001) has discerned these meanings:(1) An economy characterized by the absence of business cycles or inflations.(2) The industry sectors producing computers and related goods and presumablyservices such as e-commerce.(3) An economy characterized by an accelerated rate of productivity growth.(4) The "full effects on social, economic, and political systems of the[information and communications technologies] revolution" centered on thecomputer. This is Lipsey's meaning.Source: Lipsey, Richard G."The productivity paradox: a case of the emporer's new clothes."July 2001.Contexts: phrasesnew growth theory:Study of economic growth. Called 'new' because unlike previous attempts tomodel the phenomenon, the new theories treat knowledge as at least partlyendogenous. R&Dis one path. Hulten (2000) says that the new growththeories have the new assumption that the marginal product of capital isconstant rather than in diminishing as in the neoclassical theories of growth.Capital often in the new growth models includes investments in knowledge,research and development of products, and human capital.Source: Hulten (2000), p. 37Contexts: macronew institutionalism:A school of thought in economic history, linked to the work of Douglas North.New institutionalist. "This body of literature has claimed that, in history,institutions matter, and in empirical analyses of history, institutionstypically refer to those provided by the state: a currency, stock market,property rights, legal system, patents, insurance schemes, and so on." Theliterature Hopcroft cites includes: North 1990b; North 1994; North and Thomas1973; North and Weingast 1989; Bates 1990, p. 52; Campbell and Lindberg 1990;Eggertson 1990, pp 247-8; Cameron 1993, p. 11.p 35: "Using the terminology of the new institutionalizsm, field systems inpreindustrial Europe were produces of local institutions. Institutionis defined as a system of social rules, accompanied by some sort ofenforcement mechanism. Rules may be formal in nature -- for exapmle,legislation, constitutions, legal specifications of property rights, and so on(Coase 1960; Barzel 1989; North 1982: 23) -- or informal in nature -- forexample, cultural norms, customs, and mores (North 1990a: 192; Knight 1992) .. . ."All these are fromHopcroft, Rosemary L. "Local Institutions and Rural Development in EuropeanHistory" Social Science History 27:1 (spring 2003), pp 25-74.Source: Hopcroft, Rosemary L. "Local Institutions and Rural Development inEuropean History" Social Science History 27:1 (spring 2003), pp 25-74.Contexts: historyNIPA:Stands for the National Income and Product Accounts. This is a GDP accountfor the United States.Contexts: dataNLLS:Stands for Nonlinear least squares, an estimation technique.The technique is to choose the parameter, b, of assumed distribution pdf f(),to minimize this expression: sum over all i of(yi-f(xi, b))2where the xi's are the independent data, yi's are thedependent data.Contexts: econometrics; estimationNLREG:Stands for Nonlinear Statistical Regression program, discussed athttp://www.sandh.com/sherrod/nlreg.html.Contexts: data; estimationNLS:National Longitudinal Survey, done atthe U.S. Bureau of Labor Statistics.Contexts: labor; dataNLSY:"The National Longitundinal Survey of Youth is a detailed survey of morethan 12,000 young people from 1979 through 1987. The original 1979 samplecontained 12,686 youths age 14 to 21, of whom 6,111 represented the entirepopulation of youths and 5,295 represented an oversampling of civilianHispanic, black, and economically disadvantages non-Hispanic, nonblack youth.An additional 1,280 were in the military. [ed.: meaning, their parents were?]The survey had a remarkably low attrition rate -- 4.9 percent through 1984 --and thus represents the largest and best available longitudinal data set onyouths in the period under study."NLS web site.Source: Freeman, 1991, p 103-4.Contexts: labor; dataNLSYW:National Longitudinal Survey of YoungWomen, done at the U.S. Bureau of Labor Statistics.Contexts: data; laborNNP:Net National Product. "Net national product is the net market value ofthe goods and services produced by labor and property located in [a nation].Net national product equals GNP[minus] the capital consumptionallowances, which are decudted from gross private domestic fixed investment toexpress it on a net basis." -- Survey of Current BusinessSource: Survey of Current BusinessContexts: macrono-arbitrage bounds:Describes the outer limits on a price in a model where that price must meet ano-arbitrage condition.In many models a price is completely determined by a no-arbitrage condition,but if some frictions are modeled -- transactions costs or liquidityconstraints, for example -- then a no-arbitrage condition defines a range ofpossible prices, because tiny variations from the theoretical no-arbitrageprice are not large enough to make arbitrage profits feasible. The range ofpossible prices is bounded by the "no-arbitrage bounds"Source: McDonald, Robert L. 1998. "Dividend Tax Credits, the Ex-day,and Cross-Border Tax Arbitrage: The Case of Germany", Working paper,Kellogg School of Management's Finance department, Northwestern University.Page 4 has an example of this term in use.Contexts: financenoise trader:In models of asset trading, a noise trader is one who doesn't have any specialinformation but trades for exogenous reasons; e.g., to raise cash.Such trades make a market liquidfor other traders; that is, they givea given trader someone to exchange with.Contexts: financenoncentral chi-squared distribution:If n random values z1, z2, ..., zn are drawnfrom normal distributions with known nonzero means and constantvariance, then squared, and summed, the resulting statistic is said to have anoncentral chi-squared distribution with n degrees of freedom:z12 + z22 + ... +zn2) ~ X2(n, q)This is a two-parameter family of distributions. Parameter n isconventionally labeled the degrees of freedom of the distribution. Parameterq is the noncentrality parameter. It isrelated to the means mi and variances2 of the normal distributions thus:q=(sum for i=1 to n) of (mi2 / s2).The mean of a distribution that is X2(n, q) is (n+q). Thevariance of that distribution is (2n+4q).Source: Hogg and Craig, p 288-291Contexts: statistics; econometrics; estimationnoncooperative game:A game structure in which the players do not have the option of planning as agroup in advance of choosing their actions. It is not the players who areuncooperative, but the game they are in.Contexts: game theorynondivisibility of labor:If one models labor as contractible in continuous units, workers as identical,and workers' utility functions as concave in leisure and income, an optimaloutcome is often for all workers to work some fraction of the time. Then noneare unemployed. We do not observe this.If instead one presumes that labor cannot be effectively contracted incontinuous units but must be purchased in blocks (e.g. of eight hours per day,or forty per week), this aspect can generate unemployed workers in the modelwhile others work long schedules, even if the workers are otherwise identical.Labor may have to be sold in such blocks for several observed reasons: (a)because there are fixed costs to the employer of employing each worker; (b)because there are fixed costs (e.g. transportation; dressing for work) to theemployee of each job. This idea of labor as nondivisible has been used inmacro models by Gary Hansen (1985) and Richard Rogerson (1988).Contexts: macrononergodic:A time series process {xt} is nonergodic if it is so stronglydependent that it does not satisfy the law of large numbers.(Paraphrased straight from Wooldridge.)Source: Discussed in Wooldridge, 1995, p 2647Contexts: time series; econometricsnonlinear pricing:A pricing schedule where the mapping from quantity purchased to total price isnot a strictly linear function. An example is affine pricing.Source: Tirole, p 136Contexts: IOnonparametric:In the context of production theory (e,g, hulten 2000 circa p 21) anonparametric index number would not be derived from a specific functionalform of the production function.See also nonparametric estimation.nonparametric estimation:Allows the functional form of the regression function to be flexible.Parametric estimation, by contrast, makes assumptions about the functionalform of the regression function (e.g. that it is linear in the independentvariables) and the estimate is of those parameters that are free.Source: Hardle, 1990Contexts: econometrics; estimationnonprofit:A nonprofit organization is one that has committed legally not to distributeany net earnings (profits) to individuals with control over it such asmembers, officers, directors, or trustees. It may pay them for servicesrendered and goods provided.Source: Hansmann, Henry B. "The Role of Nonprofit Enterprise."The Yale Law Journal, Vol 89, No 5, April 1980.Contexts: public economics; law and economicsnonuse value:Synonym for existence value.Source: Portney, 1994; Krutilla,1967Contexts: public financeNORC:National Opinion Research Centeratthe University of Chicago.Contexts: datanormal distribution:A continuous distributionof major importance. Cdfis oftendenoted by capital F(x). Pdfis oftendenoted by little f(x).The cdf and pdf are not representable in html. The distribution has twoparameters, mean m and variance s2. Has moment-generating functionM(t)=exp(m*t + .5*s2t2).Contexts: statistics; econometricsnormal form:A way of writing out a game. Synonymous with strategic form.Formally:let n be the number of players,let Ai be the set of possible actions (or strategies) of playeri,and let ui:A1 x A2 x ... x An -<R represents the payoff function (or utility function) for player i.That is once all players have chosen that set of actions, the payoff forplayer i is the value of that function.Then the normal form of the game is characterized by G = (A1,A2, ... An, u1, ... , un)Contexts: game theorynormality:When used to describe a random variable, means that it has a normaldistribution.notation:Unusual notation, hard to put in glossary for definition, is listedhere:2A has a particular meaning. For a finite set A, the expression2A means "the set of all subsets of A.". If as isstandard we denote the number of elements in set A by |A|, the number ofelements in 2A is 2|A|.Contexts: set theory; mathematics; probabilityNPV:Net Present Value. Same as PDV (present discounted value).Contexts: financeNSF:The U.S. National Science Foundation, which funds much economicresearch.Contexts: organizationsnull hypothesis:The set of restrictions on parameters that is formally being tested."The hypothesis that the restriction or set of restrictions to be testeddoes in fact hold." (Davidson and MacKinnon, 1993, p. 78) It is standardto use the notation H0 for the null hypothesis. Thealternative hypothesis, that the restrictions do not hold is denotedH1.Often H1 is the conjecture of interest to the investigator. (Hoggand Craig, p. 281) The problem gets framed this way so that the data andstatistical methods can potentially reject H0.The term is from formal statistical language describing the test to which therestrictions are being subjected. The real hypothesis of interest to theinvestigator may not be either H0 nor H1. Even if it isH1, the statistical rejection of H0 may not be strongand specific evidence.Source: Davidson and MacKinnon, 1993, p 78-79Contexts: econometrics; estimationnumeraire:The money unit of measure within an abstract macroeconomic model in whichthere is no actual money or currency. A standard use is to define one unit ofsome kind of goods output as the money unit of measure for wages.Source: An example is in Arrow, Chenery, Minhas, and Solow,1961Contexts: macro; modelsNYSE:New York Stock Exchange, the largest physical exchange in the U.S. Is in NewYork City.Contexts: finance; businessobsolescence:An object's attribute of losing value because the outside world has changed.This is a source of price depreciation.ocular regression:A term, generally intended to be amusing, for the practice of looking at thedata to estimate by eye how data variables are related. Contrast formalstatistical regressions like OLS.Contexts: phrases; econometricsODE:Abbreviation for "ordinary differential equation".Contexts: mathOECD:Organization of Economic Cooperation and Development; includes about 25industrialized democracies.OES:The Occupational Employment Statistics survey of the United States, conductedby its Bureau of Labor Statistics. It surveys approximately 400,000establishments each year, excluding those in agriculture, forestry,fishing, and the national government.Source: Jeffrey A. Groen working paper, 2003.BLS web site.Contexts: U.S.; dataoffer curve:Consider an agent in a general equilibrium (e.g., an Edgeworth box).Assume that agent has a fixed known budget and known preferences which predictwhat set (or possible sets) of quantities that agent will demand at variousrelative prices. The offer curve is the union of those sets, for allrelative prices, and can be drawn in an Edgeworth box.Source: Varian, 1992, p 316Contexts: micro theory; general equilibrium; modelsOLG:Abbreviation for overlapping generationsmodel, in which agents live afinite length of time long enough to live one period at least with the nextgenerations of agents.Contexts: modelsoligopsony:The situation in which a few, possibly collusive, buyers are the only ones whobuy a certain good.Has the same relation to monopsony that oligopoly has to monopoly.Contexts: IO; laborOLS:Ordinary Least Squares, the standard linear regression procedure. Oneestimates a parameter from data and applying the linear modely = Xb + ewhere y is the dependent variable or vector, X is a matrix of independentvariables, b is a vector of parameters to be estimated, and e is a vector oferrors with mean zero that make the equations equal.The estimator of b is: (X'X)-1X'yA common derivation of this estimator from the model equation (1) is:y = Xb + e Multiply through by X'.X'y = X'Xb + X'e Now take expectations. Since the e's are assumed to beuncorrelated to the X's the last term is zero, so that term drops. Sonow:E[X'Xb] = E[X'y] Now multiply through by (X'X)-1E[(X'X)-1X'Xb] = E[(X'X)-1X'y]E = E[(X'X)-1X'y] Since the X's and y's are data the estimateof b can be calculated.Contexts: econometricsomitted variable bias:There is a standard expression for the biasthat appears in anestimate of a parameter if the regression run does not have the appropriateform and data for other parameters.Define: y as a vector of N dependent variable observations, X1as an (N by K1) matrix of regressors, X2 as an (N byK2 matrix of additional regressors), and e as an (N by 1) vectorof disturbance terms with sample mean zero.Suppose the true regression is:y = X1b1 + X2b2 + efor fixed values of b1 and b2. (If "true regression"seems ambiguous, imagine for the rest of the description that the values ofX1, X2, b1, and b2 were chosenin advance by the econometrician and e will be chosen by a random numbergenerator with expectation zero, and y is determined by these choices; inthis framework we can be certain what the true regression is and can studythe behavior of possible estimators.)Suppose given the data above one ran the OLSregressiony = X1c1 +errorsWould E[c1]=b1 despite the absence ofX2b2? It will turn out in the following derivationthat in most cases the answer is no and the difference between the twovalues is called the omitted variable bias.The OLS estimator for c1 will be:c1OLS =(X1'X1)-1X1'y=(X1'X1)-1X1'(X1b1 + X2b2 + e)=(X1'X1)-1X1'X1b1+(X1'X1)-1X1'X2b2+ (X1'X1)-1X1'e=b1 +(X1'X1)-1X1'X2b2+ (X1'X1)-1X1'eSo since E[X1'e] = 0, taking expectations of both sidesgives:E[c1] =b1 +(X1'X1)-1X1'X2b2In general c1OLS will be a biased estimator ofb1. The omitted variables bias is(X1'X1)-1X1'X2b2. An exception occurs if X1'X2=0. Then theestimator is unbiased.There is more to be learned from the omitted variables bias expression.Leaving off the final b2, the expression(X1'X1)-1X1'X2b2is the OLS estimator from a regression of X2 on X1.Source: Greene, 1993, p 245-246Contexts: econometricsOp(1):statistical abbreviation for "converges in distribution"or, equivalently, "the average is bounded in probability."That is Xt/n is bounded in probability.Contexts: statistics; econometricsopen:An economy is said to be open if it has trade with other economies.(Implicitly these are usually assumed to be countries.)One measure of a country's openness is the fraction of its GDPdevotedto imports and exports.option:A contract that gives the holder the right, but not the duty, to make aspecified transaction for a specified time.The most common option contracts give the holder the right buy a specificnumber of shares of the underlying security (equity or index) at a fixed price(called the exercise price or strike price) for a given period of time. Otheroption contracts allow the holder to sell.This is its most common practical business meaning, and the use in theoreticaleconomics is analogous -- e.g. that owning a plant gives a firm the option tomanufacture in it at any time or to sell it at any time.Contexts: finance; businessorder condition:In a econometric system of simultaneous equations, each equation may satisfythe order condition, or not do so. If it does not, its parameters are not allidentified.The order condition is often easy to verify. Often the econometricianverifies that the order condition is satisfied and assumes with thisjustification that the equation is identified, although formally a strongerrequirement, the rank condition, must be satisfied. For each equation theremust be enough instrumental variables available for the equation to have asmany instruments as there are parameters.The system can satisfy a form of the order condition: that there be as manyexogenous variables in the reduced form of the system as there areparameters.Contexts: econometricsorder of a kernel:The order of a kernel function is defined as the first nonzero moment.Source: Hardle and Linton paper, June 1993, "Applied NonparametricMethods"Contexts: econometrics; nonparametricsorder of a sequence:Two relevant concepts are denoted O() and o().Let cn be a random sequence. Quoting from Greene, p 110:"cn is of order 1/n, denoted O(1/n), if plim ncn isa nonzero constant."And"cn is of order less than 1/n, denoted o(1/n), if plimncn equals 0."Source: Greene, 1993, p 110Contexts: econometricsorder statistic:The first order statistic of a random sample is the smallest element of thesample. The second order statistic is the second smallest. And thenth order statistic in a sample of size n is the largest element.The pdfof the order statistics can be derived from the pdf from whichthe random sample was drawn.Source: Hogg and Craig, 1995, pp. 193-200.Contexts: statisticsorganizational capital:"whatever makes a collection of people and assets more productive togetherthan apart. Firm-specific human capital (Becker 1962), managementcapital (Prescott and Visscher 1980), physical capital (Ramey and Schapiro1996), and a cooperative disposition in the firm's workforce (Eeckhout 2000and Rb and Zemsky 1997) are examples of organizational capital."-- from Boyan Jovanovic and Peter L. Rousseau, Sept 20 2000, "Technology andthe Stock Market: 1885-1998" NYU and Vanderbilt University, workingpaperSource: Boyan Jovanovic and Peter L. Rousseau, Sept 20 2000, "Technology andthe Stock Market: 1885-1998" NYU and Vanderbilt University, working paperContexts: organizationsorganizational routines:Almost all of this is condensed from the literature review in Becker (2004).Organizational routines are recurrent sequences of behavior, or relatedcognitive patterns such as rules and recipes, in organizations. These arecontext-specific ways of coordinating multiple actors. Generally theyachieve, or enable, a systematic response to events or input by theorganization. Routines therefore store operational or tacitknowledge.Organizational routines tend:- to have path-dependent, local histories- to satisfice, that is, reach a kind of level of aspriation, and not to betested for optimality- to be triggered, perhaps by performance below that level of aspiration,which may be implicit- to exert control in the context of uncertainty, and by being standardizedacross events, to enable measurement of processes within the organization- to reduce surprises, error handling, and emergency handling of inputs- to create or tolerate some internal delays by definition- to economize on cognitive resources like the information processing anddecision capacity of agents within the organization, by defining structures ofresponse- to guide inexperienced members of the organization- to provide stability and predictability, but also to evolve with timeOrganizational routines may serve as heuristics or guidelines, notrules.Becker (2004) treats Nelson and Winter (1982), as a central source work inthis area, and cites a variety of empirical and theoretical academicliterature on organizational routines.Organizational routines are so common it's not clear whether one exampleclarifies the subject but I inferred that this was a good example. Suppose anorganization maintains software, and converts complaints and bug reports aboutthis software into records in a database (classically, a "bugbase") which willbe addressed in a substantively appropriate way by specialists. This mode ofbehavior is an organizational routine that satisfies the above description.The substance and addressee of each bug report record will vary; the substanceincludes the uncertain input from outside, plus various tacit information likethe appropriate addressee.Source: Becker, Markus C. "Organizational routines: a review of theliterature." Industrial and Corporate Change. Vol 13, no. 4 (August2004), pp. 643-677.Nelson, R.R., and S.G. Winter. 1982. An Evolutionary Theory of EconomicChange. Belknap Press/Harvard University Press: Cambridge, MA.Contexts: management; sociology; organizationsorganizations:Relevant terms: absorptive capacity,ACIR,AMEX,competency trap,EMS,EOE,FIPS,institution,NBER,NSF,organizational capital,organizational routines,SOFFEX,TRIPs,WIPO,World Bank.Contexts: fieldsoutput elasticity:"The output elasticity of an input is roughly the percentage increase inoutput for a 1 percent [increase] in that input, holding other factorsconstant. If [an] input has a 'normal' rate of return, then [its] outputelasticity should equal its share of total inputs." -- Hitt andBrynjolfsson (2002), p. 85.The output elasticity idea presumes that somebody is monitoring a productionfunction and adjusting production to maximize something, perhaps output,revenue, or profit. It also presumes the input and output are continuous sothat small changes in inputs and outputs are well-defined (e.g., we are nottalking about a slight increase over one hand-crafted violin per year; theabstraction of output elasticity of inputs applies poorly in a case likethat). For more on elasticity and concepts analogous to output elasticity,see elasticity.Source: Hitt, Lorin M., and Erik Brynjolfsson. 2002. "InformationTechnology, Organizational Transformation, and Business Performance." Chapter2 of Productivity, Inequality, and the Digital Economy, edited byNathalie Greenan, Yannick L'Horty, and Jacques Mairesse. The MIT Press.Contexts: micro; estimation; industrial organizationoutside money:monetary base. Is held in net positive amounts in an economy. Is not aliability of anyone's. E.g., gold or cash. Contrast insidemoney.Contexts: money; modelsovershooting:Describes "a situation where the initial reaction of a variable to ashock is greater than its long-run response."Source: Romer, 1996, p 7own:This word is used in a very particular way in the discussion of time seriesdata. In the context of a discussion of a particular time series it refers toprevious values of that time series. E.g. 'own temporal dependence' as inBollerslev-Hodrick 92 p 8 refers to the question of whether values of the timeseries in question were detectably a function of previous values of that sametime series.Contexts: time seriesOx:An object-oriented matrix language sometimes used for econometrics. Detailsare athttp://hicks.nuff.ox.ac.uk/Users/Doornik/doc/ox/.Contexts: econometrics; time seriesp value:A p-value is associated with a test statistic. It is "the probability,if the test statistic really were distributed as it would be under the nullhypothesis, of observing a test statistic [as extreme as, or more extremethan] the one actually observed."The smaller the P value, the morestrongly the test rejects the hypothesis being tested (the nullhypothesis).A p-value of .05 or less rejects the null hypothesis "at the 5%level" that is, the statistical assumptions used imply that only 5% ofthe time would the supposed statistical process produce a finding this extremeif the null hypothesis were true.5% and 10% are common significance levelsto which p-values arecompared and in academic seminars, a p-value of .05 is treated as strongevidence that the result is a signal, not just noise.Source: Davidson and MacKinnon, 1993, p 78-79 ; and withrelieved thanks to Ed DeMattia and Steven Hetzler for pointing out that thisdefinition was mistaken before fall 2005.With thanks to: Ed De Mattia;Contexts: econometrics; estimationPaasche index:A kind of index number. The official method for US price deflators computesthem as a Paasche index. The algorithm is just like the Laspeyresindexbut the base quantities are chosen from the second, laterperiod.See alsohttp://www.geocities.com/jeab_cu/paper2/paper2.htm.From Aizcorbe (2004), p.9: If one assumes there is a representativeconsumerthen the Paashe index can be, and has been, interpreted as alower bound for the representative consumer's cost of living increase. Thatis, it shows the change in income needed to make the representative consumerindifferent between purchasing current quantities at the base and current timeperiods.Source:http://www.geocities.com/jeab_cu/paper2/paper2.htm;Gordon, 1990, p. 5Aizcorbe, Ana. "Price Indexes for Intermittent Purchases and anApplication to Price Deflators for High Technology Goods" working paper,Bureau of Economic Analysis, U.S. Department of Commerce.Contexts: index numberspanel data:Data from a (usually small) number of observations over time on a (usuallylarge) number of cross-sectional units like individuals, households, firms, orgovernments.Contexts: econometrics; estimationpar:Can by a synonym for 'face value' as in the expression "valuing a bond atpar".Contexts: financeparadox:This word is used in a particular way within the literature of economics --not to describe a situation in which facts are apparently in conflict, but todescribe situations in which apparent facts are in conflict with models ortheories to which some class of people holds allegiance. This use of the wordimplies strong belief in the measured facts, and in the theory, and theresolution to economic paradoxes tend to be of the form that the data do notfit the model, the data are mismeasured or, (the most common case) the modelor theory does not fit the environment measured.In some ways the term paradox is awkward in economics since the dataare so poorly measured, the models so brutally simplified, and the mappingbetween environment and evidence so stochastic. So this editor avoids theterm where possible, but often it is a compact and vigorous way of telling thereader the context of the subsequent discussion.A list of these that an economist may be expected to recognize includes:Allais paradox, Ellsberg paradox, Condorcet votingparadox, Scitovsky paradox, and productivityparadox.Contexts: phrasesparametric:adjective. A function is 'parametric' in a given context if its functionalform is known to the economist.Example 1: One might say that the utility function in a given model isincreasing and concave in consumption. But it only becomes parametric onceone says that u(c)=ln(c) or u(c)=c1-A/1-A. At this point onlyparameters such as A remain to be specified or estimated.Example 2: In an econometric model one often imposes assumptions such as thatthe the relationship being estimated is linear, thence to do a linearregression. These are parametric assumptions. One might also make someestimates of the 'regression function' (the relationship) without suchparametric assumptions. This field is called nonparametricestimation.Contexts: econometrics; estimation; modelsPareto chart:The message below was posted to a Statalistserv and is reproduced herewithout any permission whatsoever.Date: Thu, 28 Jan 1999 08:59:57 -0500From: "Steichen, Thomas"Subject: RE: statalist: Re: Pareto diagrams[snip]Pareto charts are bar charts in which the bars are arranged in descendingorder, with the largest to the left. Each bar represents a problem. The chartdisplays the relative contribution of each sub-problem to the total problem.Why: This technique is based on the Pareto principle, which states that afew of the problems often account for most of the effect. The Paretochart makes clear which "vital few" problems should be addressed first.How: List all elements of interest. Measure the elements, using the sameunit of measurement for each element. Order the elements according totheir measure, not their classification. Create a cumulative distributionfor the number of items and elements measured and make a bar and linegraph. Work on the most important elements first.Reference: Wadsworth, Stephens and Godfrey. Modern Methods for QualityControl and Improvement, New York: John Wiley, 1986 and Kaoru Ishikawa,Guide To Quality Control, Asian Productivity Organization, 1982, QualityResources, 1990.(Note: above info "borrowed" from a web page)Source: Stata listservWith thanks to: Statalist and Thomas Steichen , as of4/15/1999Contexts: econometricsPareto distribution:Has cdf H(x) = 1 - x(-a) where x<=0, a<0. This distributionis unbounded above. (A slightly different version, with two parameters, isshown in Hogg and Craig on p. 207.)Contexts: econometrics; statisticsPareto optimal:In an endowment economy, an allocation of goods to agents is Pareto Optimal ifno other allocation of the same goods would be preferred by every agent.Pareto optimal is sometimes abbreviated as PO.Optimal is the descriptive adjective, whereas optimum is a noun.A Pareto optimal allocation is one that is a Pareto optimum. There may beonly one such optimum.Contexts: modelsPareto set:The set of Pareto-efficientpoints, usually in a generalequilibriumsetting.Source: Varian, 1992, p 324Contexts: micro theory; general equilibrium; modelspartially linear model:Refers to a particular econometric model which is between a linear regressionmodel and a completely nonparametricmodel:y=b'X+f(Z)+ewhere X and Z are known matrices of independent variables, y is a known vectorof the dependent variable, f() is not known but often some assumptions aremade about it, and b is a parameter vector. Assumptions are often made on esuch as that e~N(0,s2I) and that E(e|X,Z)=0.The project at hand is to estimate b and/or to estimate f() in anon-parametric way, e.g. with a kernel estimator.Source: possibly first discussed in Robinson, P., 1988,"Root-n-consistent semiparametric regression", Econometricavol 56, pp 931-954.Contexts: econometrics; estimationpartition:"[A] partition of a finite set (capital omega) is a collection ofdisjoint subsets of (capital omega) whose union is (capital omega)." --Fudenberg and Tirole p 55Source: Fudenberg and Tirole, 1991/1993, p 55Contexts: information theory; econometrics; micro theorypassive measures (to combat unemployment):unemployment and related social benefits and early retirement benefits.(contrast active)Source: John P. Martin, D16 readings bookContexts: labor; macropath dependence:Following David (97): describes allocative stochastic processes. Refers tothe way the history of the process relates to the limiting distribution of theprocess."Processes that are non-ergodic, and thus unable to shake free oftheir history, are said to yield path dependent outcomes." (p. 13)"A path-dependent stochastic process is one whose asymptotic distributionevolves as a consequence" of the history of the process. (p. 14)The term is relevant to the outcome of economic processes through history.For example, the QWERTY keyboard standard would not be the standard if it hadnot been chosen early; thus the keyboard standard evolved through apath-dependent process.Source: David, 1997, p 13-14Contexts: history; stochastic processespath dependency:The view that technological change in a society depends quantitatively and/orqualitatively on its own past. "A variety of mechanisms for theautocorrelation can be proposed. One of them, due to David (1975) is thattechnological change tends to be 'local,' that is, learning occurs primarilyaround techniques in use, and thus more advanced economies will learn moreabout advanced techniques and stay at the cutting edge of progress."(Mokyr, 1990, p 163)A noted example of technological path dependence is the QWERTY keyboard, whichwould not be in use today except that it happened to be chosen a hundred yearsago. A special interest in the research literature was taken in the questionof whether technological path dependence has been observed to lead tonoticeably Pareto-inferior outcomes later. Liebowitz and Margolis in a seriesof papers (e.g. in the JEP) have made the case that it has not -- that is thatthe QWERTY keyboard is not especially inferior to alternatives inproductivity, and that the VHS videotapes were not especially inferior to Betavideotapes at the time consumers chose between them.Source: Mokyr, 1990, p 163Contexts: stochastic processes; historypayoff matrix:In a game with two players, the payoffs to each player can be shown in amatrix. The one at right is from the classic Prisoners Dilemma game:Player TwoCDPlayer OneC3,30,4D4,01,1Here, player one's strategy choices (shown, conventionally, on the left) are Cand D, and player two's, shown on the top, are also C and D. The payoffs ofeach possible choice of strategy pairs is in each cell of the matrix. Thefirst number is the payoff to player one, and the second is the payoff toplayer two.Contexts: game theory; modelsPBE:abbreviation for perfect Bayesian equilibrium.Contexts: game theorypdf:probability distribution function. This function describes a statisticaldistribution. It has the value, at each possible outcome, of the probabilityof receiving that outcome. A pdf is usually denoted in lower case letters.Consider for example some f(x), with x a real number is the probability ofreceiving a draw of x. A particular form of f(x) will describe the normaldistribution, or any other unidimensional distribution.Contexts: econometrics; statisticsPDV:Present Discounted ValueContexts: financepecuniary externality:An effect of production or transactions on outside parties through prices butnot real allocations.perfect Bayesian equilibrium:A perfect Bayesian equilibrium is a game-theoretic concept. It is verylike a Nash equilibrium but in which each player's beliefsare alsodefined and are integrated into the definition.A perfect Bayesian equilibrium (PBE) is defined to exist in a game inwhich payoffs and players are stated and are common knowledge within thegame. It can be described by this set of things taken together:- a profileof strategies and- a profile of belief functionsTo be a PBE they also satisfy these rules:- the strategies satisfy sequential rationalityrule and- the beliefs are updated over time according to Bayes rulewhenever possible.[Ed.: Normally one also assumes that the players know with certainty thatthey are in a PBE. Without this assumption it may not be possible tolocate any PBE of the game, but with this assumption this equilibrium isless likely to describe the real world.]-- F&T 1993? pp 321-333it also describes separating and pooling equilibria as subsets of PBEThere is a thm in Kreps that all seq eqms are also subgame perfect.Contexts: game theoryperfect equilibrium:In a noncooperative game, a profile of strategies is a perfect equilibrium ifit is a limit of epsilon-equilibriaas epsilon goes to zero.There can be more than one perfect equilibrium in a game.For a more formal definition see sources. This is a rough paraphrase.Source: Pearce, 1984, p 1037Contexts: game theoryPERT:Program Evaluation and Review Technique(is this used?)Source: Hogg and Craig, 163-4phase portrait:graph of a dynamical system, depicting the system's trajectories (with arrows)and stable steady states (with dots) and unstable steady states (with circles)in a state space. The axes are of state variables.Contexts: modelsPhillips curve:A relation between inflation and unemployment. Follows from William Phillips'1958 "The relation between unemployment and the rate of change of moneywage rates in the United Kingdom, 1861-1957" in _Economica_.In the subsequent discussion the relation was thought to be a negative one --high unemployment would correlate with low inflation. That stylized fact lostempirical support with the stagflation of the U.S. in the 1970s, in which highinflation and high unemployment occurred together. More recent evidencesuggests that over the long term, across countries, there is a POSITIVEcorrelation between inflation and unemployment. Discussion continues on whichof these is more 'causal to' the other and less 'caused by' the other.In recent use, "[T]he 'Phillips curve' has become a generic term for anyrelationship between the rate of change of a nominal price or wage andthe level of a real indicator of the intensity of demand in theeconomy, such as the unemployment rate." -- Gordon, Robert G.,"Foundations of the Goldilocks Economy" for Brookings Panel onEconomic Activity, Sept 4, 1998.Contexts: macroPhillips-Perron test:A test of a unit roothypothesis on a data series.(Ed.: what follows is my best, but imperfect, understanding.) ThePhillips-Perron statistic, used in the test, is a negative number. The morenegative it is, the stronger the rejection of the hypothesis that there is aunit root at some level of confidence. In one example a value of -4.49constituted rejection at the p-valueof .10.Source: cites of Phillips, Peter C.B. and Pierre Perron. "Testing for aUnit Root in Time Series Regression." Biometrika June 1988, 75,pp 335-346.With thanks to: Don Watson (as of 1999/03/31: drw@matilda.vm.edu.au)Contexts: econometrics; time seriesphrases:Relevant terms: a fortiori,a priori,abstracting from,analytic,budget line,ceteris paribus,Chicago School,classical,climacteric,control for,corner solution,creative destruction,deterministic,dismal science,endogenous,equity premium puzzle,exogenous,inter alia,interior solution,is consistent for,mutatis mutandis,neoclassical model,neolassical,nests,New Economy,ocular regression,paradox,priori,proof,quango,rational,rational ignorance,rationalize,risk free rate puzzle,significance,solution concept,stylized facts,the standard model,transition economics,under the null,unity.Contexts: fieldsphysical depreciation:Decline in ability of assets to produce output. For example, computers, lightbulbs, and cars have low physical depreciation; they work until they expire.Could be said to be made up of deteriorationand exhaustion.Contexts: macro; capital measurementpiecewise linear:A set of line segments each of which represents a linear relationship betweentwo variables over some subset of their domains. Usually the relationshipreferred to is between what the writer is characterizing as an independentvariable and a dependent variable.Contexts: mathematics; theory; estimationPigou effect:The wealth effect on consumption as prices fall. A lower price level leads toa greater existing private wealth of nominal value, leading to a rise inconsumption. Contrast the Keynes effect.Source: James Tobin. "Keynesian Models of Recession andDepression"Contexts: macro; modelsplant:a plant is an integrated workplace, usually all in one location.platykurtic:An adjective describing a distribution with low kurtosis. 'Low' means thefourth central moment is less than three times the second central moment; sucha distribution has less kurtosis than a normal distribution.Platy- means 'fat' in Greek and refers to the central part of thedistribution. Platykurtic distributions are not as common as leptokurticones.Source: Davidson and MacKinnon, 1993, p 62-64Contexts: statisticsPO:Pareto OptimalContexts: modelsPoisson distribution:A discrete distribution. Possible values for x are the integers1,2,3,...Denoting mean as mu, the Poisson distribution has mean mu, variance mu, andpdf(e-mumu-x)/x!. Moment-generating function(mgf) is exp(mu(et-1)).Source: Hogg and CraigContexts: statisticsPoisson process:In such a process, let n be the number of events that occur in a given time.n will have a Poisson distribution.Contexts: statistics; modelspolitical science:The academic subject centering on the relations between governments and othergovernments, and between governments and peoples.polity:Group with an organized governance. Normally a politically organizedpopulation or can be a religious one.Or, form of governance.Examples needed. Use is very context-sensitive; that is, the definition isnot too informative without examples.Contexts: political sciencepolychotomous choice:Multiple choice. In the context of discrete choice econometric models, meansthat the dependent variable has more than two possible values.Source: Maddala, 1983, 1996, p 275Contexts: econometricspooling of interests:One of two ways to do the accounting for a U.S. firm after a merger. Thealternative is purchase accounting.A pooling of interests is the method usually taken for all-stockdeals.Contexts: accountingpoor:In poverty, which see.Source: Blank, ITANContexts: povertyportmanteau test:a test for serial correlation in a time series, not just of one period backbut of many. Standard reference is Ljung and Box (1978).The equation characterizing this test is given on page 18, footnote 15, ofBollerslev-Hodrick 1992 and will go in here when html has an equationformat.Source: Bollerslev-Hodrick 92 circa p 8Contexts: finance; time seriespoverty:As commonly defined by U.S. researchers: the state of living in a family withincome below the federally defined poverty line.Relevant terms: idle,poor,poverty,urban ghetto.Source: Blank, ITANContexts: data; povertypower:"The power of a test statistic T is the probability that T will rejectthe null hypothesis when the hypothesis is not true. Formally, it isthe probability that a draw of T is in the rejection regiongiven thatthe hypothesis is not true.Source: Davidson and MacKinnon, 1993, p 78-79Contexts: econometrics; statistics; estimationpower distribution:A continuous distributionwith a parameter that we will denote k.Pdfis kxk-1. Mean is k/(k+1). Variance isk/[(1+k)2(2+k)].This distribution has not been found to correspond to natural or economicphenomena, but is useful in practice problems because it is algebraicallytractable.Source: Hogg and CraigContexts: statisticsPPF:Short for Production Possibilities Frontier.PPP:Stands for purchasing power parity, a criterion for an appropriate exchangeratebetween currencies. It is a rate such that a representative basketof goods in country A costs the same as in country B if the currencies areexchanged at that rate.Actual exchange rates vary from the PPP levels for various reasons, such asthe demand for imports or investments between countries.Contexts: internationalPrais-Winsten transformation:An improvement to the original Cochrane-Orcuttalgorithm for estimatingtime series regressions in the presence of autocorrelated errors. Theimplicit reference is to Prais-Winsten (1954).The Prais-Winsten tranformation makes it possible to include the firstobservation in the estimation.Source: SHAZAMmanualContexts: estimation; time series; econometricspre-fisc:Means before taking account of the government's fiscal policy. Usually refersto personal incomes before taxes and government transfers between people. Forexample a researcher might take more interest in pre-fisc income inequalitythan in post-fisc income inequality because the effects of governmenttransfers are designed specifically to reduce inequality.Contexts: publicprecautionary savings:Savings accumulated by an agent to prepare for future periods in which theagent's income is low.Contexts: models; financeprecision:reciprocal of the varianceSource: Hamilton, p 355Contexts: econometricspredatory pricing:The practice of selling a product at low prices in order to drive competitorsout, discipline them, weaken them for possible mergers, and/or to preventfirms from entering the market. It is an expensive strategy.In the United States there is no legal (statutory) definition of predatorypricing, but pricing below marginal cost (the Areeda-Turner test) has beenused by the Supreme Court in 1993 as a criterion for pricing that ispredatory. (Salonmagazine, 1998/11/11)Contexts: IOpredetermined variables:Those that are known at the beginning of the current time period. In aneconometric model, means exogenous variables and lagged endogenousvariables.Source: Johnston, p 440Contexts: econometricspreferences:A property of the agents (individuals) in many economics models. The propertyis the ability to compare any two bundles of goods and to prefer one over theother. Usually this ability is presumed to be stable over time. The abilityis presumed to be behind the observed behavior of individuals who makechoices, and we can then make theories about their preferences.Preferences are often implicitly assumed to exist in a model by declaring thatthere is a utility functioncharacterizing the preferences of theagents in the model. A continuousutility function exists whichperfectly describes the preferences if the preferences are complete,reflexive, transitive, continuous, and strongly monotonic.[ed: yes, someday I will define those terms too.]Standard disputes about models in which perfectly defined preferences existare about whether the agent is perfectly informed about the various bundles;about whether there are risks; and how stable over time the preferencerelations (responses to comparisons) are.Contexts: utility theorypresent-oriented:A present-oriented agent discounts the future heavily and so has a HIGHdiscount rate, or equivalently a LOW discount factor. See also'future-oriented', 'discount rate', and 'discount factor'.Contexts: modelsprice ceiling:Law requiring that a price for a certain good be kept below some level. Maylead to shortage and a black market.price complements:Two inputs i and j to a production function can be "price complements inproduction". Assume the demand for the output is decreasing in itsprice. Inputs i and j are price complements if when the price of i goes downthe profit-maximizing use of both i and j go up.Contexts: IO; laborprice elasticity:A measure of responsiveness of some other variable to a change in price. Seeelasticityfor the the general equation.Contexts: micro theoryprice floor:Law requiring that a price for a certain good be kept above somelevel.price index:A single number summarizing price levels.A larger number conventionally represents higher prices. A variety ofalgorithms are possible and a precise specification (which is rare) requiresboth an algorithm (an example of which is a Laspeyres index) and a setof goods, fixed known quantities of each (the basket),Contexts: macro; price indexesprice substitutes:Inputs i and j to a production function are "price substitutes inproduction" if when the price of i goes down the use of j goesup.Contexts: IO; laborpricing kernel:same as "stochastic discount factor" in a model of assetprices.Source: Campbell, Lo, and MacKinlay p 294Contexts: finance, macropricing schedule:A mapping from quantity purchased to total price paidContexts: IOprincipal components:An approach to finding what mixture of underlying variables produces most ofthe variation in the dependent variable.For a more complete discussion seehttp://www.statsoftinc.com/textbook/stfacan.htmlprincipal strip:A bond can be resold into parts that can be thought of as components: aprincipal component that is the right to receive the principal at the enddate, and the right to receive the coupon payments. The components are calledstrips. The principal component is the principal strip.Contexts: finance; businessprincipal-agent:The general name for a class of games faced by a player, called the principal,who by the nature of the environment does not act directly but instead bygiving incentives to other players, called agents, who may have differentinterests.Contexts: phrasing; game theoryprincipal-agent problem:A particular game-theoretic description of a situation. There is a playercalled a principal, and one or more other players called agents with utilityfunctions that are in some sense different from the principal's. Theprincipal can act more effectively through the agents than directly, and mustconstruct incentive schemes to get them to behave at least partly according tothe principal's interests. The principal-agent problem is that of designingthe incentive scheme. The actions of the agents may not be observable so itis not usually sufficient for the principal just to condition payment on theactions of the agents.Contexts: game theoryprinciple of optimality:The basic principle of dynamic programming, which was developed by RichardBellman: that an optimal path has the property that whatever the initialconditions and control variables (choices) over some initial period, thecontrol (or decision variables) chosen over the remaining period must beoptimal for the remaining problem, with the state resulting from the earlydecisions taken to be the initial condition.Contexts: modelspriori:Not used separately; see phrase a priori.Contexts: phrasesPrisoner's Dilemma:A classic gamewith two players. Imagine that the two players arecriminals being interviewed separately by police. If either gives informationto the police, the other will get a long sentence. Either player canCooperate (with the other player) or Defect (by giving information to thepolice). Here is an example payoff matrix for a Prisoner's Dilemma game:Player TwoCDPlayer OneC3,30,4D4,01,1(D,D) is the Nash equilibrium, but (C,C) is the Paretooptimum. That difference has been discussed extensivelyfor various games in the research literature. Analogies to the prisoner'sdilemma or some other game can support an argument about why in the real worldsome Pareto optima are observed not to be achieved.If this same game is repeated more than once with a high enough discountfactor, there exist Nash equilibria in which (C,C) is a possible outcome ofthe early stages.Source: Varian, 1992, Ch 15Contexts: game theorypro forma:describes a presentation of data, typically financial statements, where thedata reflect the world on an 'as if' basis. That is, as if the state of theworld were different from that which is in fact the case.For example, a pro forma balance sheet might show the balance sheet as if adebt issue under consideration had already been issued. A pro forma incomestatement might report the transactions of a group on the basis that asubsidiary acquired partway through the reporting period had been a part ofthe group for the whole period. This latter approach is often adopted inorder to ensure comparability between financial statements of the year ofacquisition with those of subsequent years.Source: Stephen Brown (stephenb@nwu.edu at the time) 7/24/2000, by emailContexts: accounting; finance; businessprobability:Relevant terms: almost surely,convergence in quadratic mean,countable additivity property,expectation,Fatou's lemma,Jensen's inequality,mixing,notation,strong law of large numbers,support.Contexts: fieldsprobability function:synonym for pdf.Source: Newey-McFadden, Ch 36, Handbook of EconometricsContexts: econometrics; statisticsprobit model:An econometric model in which the dependent variable yi can be onlyone or zero, and the continuous indepdendent variable xi areestimated in:Pr(yi=1)=F(xi'b)Here b is a parameter to be estimated, and F is the normalcdf.The logitmodel is the same but with a different cdf for F.Source: Takeshi Amemiya, "Discrete Choice Models," The New Palgrave:EconometricsContexts: econometrics; estimationprocess:see "stochastic process"Contexts: statisticsproduct differentiation:This is a product market concept. Chamberlin (1933) defined it thus: "Ageneral class of product is differentiated if any significant basis exists fordistinguishing the goods of one seller from those of another."Source: Chamberlin, E. 1933. The Theory of Monopolistic Competition.Harvard University Press. Cambridge, MA. 8th edition, 1962.as cited in:Brynjolfsson, Erik, Michael D. Smith, Yu (Jeffrey) Hu. "Consumer Surplus inthe Digital Economy: Estimating the Value of Increased Product Variety." p.6.On the net as of Jan 7, 2003.Contexts: IOproduction function:Describes a mapping from quantities of inputs to quantities of an output asgenerated by a production process. Standard example is:y = f(x1, x2)Where f() is the production function, the x's are inputs, and the y is anoutput quantity.Contexts: microproduction possibilities frontier:A standard graph of the maximum amounts of two possible outputs that can bemade from a given list of input resources.A basic outline of how to draw one.production set:The set of possible input and output combinations. Often put into thenotation of netputs, so that this set can be defined by restrictions on acollection of vectors with the dimension of the number of goods, one elementfor each kind of good, and a positive or negative real quantity in eachelement.Contexts: general equilibrium; modelsproductivity:A measure relating a quantity or quality of output to the inputs required toproduce it.Often means labor productivity, which is can be measured by quantity of outputper time spent or numbers employed. Could be measured in, for example, U.S.dollars per hour.For some more detail seethis site.Contexts: macroproductivity paradox:Standard measures of labor productivityin the U.S. suggest thatcomputers, at least until 1995, were not improving productivity. The paradoxis the question: why, then, were U.S. employers investing more and moreheavily in computers?Resolving the paradox probably requires an understanding of the gap betweenwhat the productivity statistics measure and the goals of the U.S.organizations getting computers. Sichel (1990), pp 33-36 lists these six:the mismanagement hypothesis is that computers underestimate thecosts of new computer technology, such as training, and therefore buy too manyfor optimum short-run profitabilitythe redistribution hypothesis is that private rates of return oncomputers are high enough, but the effect is only to compete over businesswith other firms in the same industry, which does not overall show greaterproductivity; the analogy is to an arms race, in which both players investheavily but the overall effect is not to increase securitythe long learning-lags hypothesis is that information technologywill generate a substantial productivity effect when society is organizedaround its availability, but it is too soon for thatthe mismeasurement hypothesis is that national economic accounts donot tend to measure the services brought by information technology such asquality, variety, customization, and conveniencethe offsetting factors hypothesis is that other factors unrelatedto computers have dragged down productivity measuresthe small share of computers in the capital stock hypothesis isjust that computers are too small a share of plant and equipment to make adifference.Two other hypotheses on this subject are:the externalities hypothesis is that computers in organization Aimprove the long-run productivity of organization B but this is notattributable in the national accounts to the computers in A.the reorganization hypothesis is that computers in a firm do notraise much the quantity of capital stock but they cause a more productive longrun organization of the capital stock within that firm and a more efficientsplit of tasks between that firm and other organizations.Technophiles (such as this writer, or venture capitalists, or Silicon Valleypublications) and technology historians tend to believe in the longlearning-lags hypothesis, the mismeasurement hypothesis, theexternalities/network-effects hypothesis, and the reorganization hypothesis.The gap in beliefs and understandings between technophiles and nationalaccounts and pricing experts, such as Sichel and Robert J. Gordon (see e.g.the 1996 paper) is astonishing as of early 1999. They talk past one another.The national accounts experts tend to take the labor/capital models moreseriously, and technology history less seriously, than do the technophiles.The Federal Reserve Bank under Greenspan has piloted between these views.Note, March 2002: The national accounts experts have come now to the view ofthe technophiles and it is now commonly thought thtat the productivity measurelags the other indicators in the boom.Source: Sichel, Daniel E. 1997. The computer revolution: an economicperspective. Brookings Institution Press, Washington D.C.Paul David, May 1990, American Economic Review, p 355.Contexts: macro; technologyproof:A mathematical derivation from axioms, often in principle in the form of asequence of equations, each derived by a standard rule from the oneabove.Contexts: mathematics; phrases; modellingpropensity score:An estimate of the probability that an observed entitiy like a person wouldundergo the treatment. This probability is itself a predictor of outcomessometimes.Contexts: empiricalproper equilibrium:Any limit of epsilon-proper equilibriaas epsilon goes to zero.-- Myerson (1978), p 78Source: Myerson, 1978, p 78, as cited by Pearce,1984, p 1037Contexts: game theoryproperty income:Nominal revenues minus expenses for variable inputs including labor, purchasedmaterials, and purchased services. Property income can serve as anapproximation to the services rendered by capital.It contains the returns to national wealth. It can be thought to includetechnology and organizational components as well as 'pure' returns tocapital.Source: Harper, 1999, p. 330Contexts: macro; capital measurementpseudoinverse:Also called Moore-Penrose inverse. The pseudoinverse of any matrix exists, isunique and satisfies four conditions shown on p 37 of Greene (1993).Perhaps the most important case is when the matrix X has more rows thancolumns, and X is of full column rank. Then the pseudoinverse of X is:(X'X)-1X'. Notice how much this equation looks like the equationfor the OLS estimator.Source: Greene, 1993, p 37Contexts: econometricsPSID:Panel Study of Income Dynamics. Data set often used in labor economicsstudies. Data is from U.S. and is put together at the University ofMichigan.Since 1968 the PSID has followed and interviewed annually a national samplethat began with about 5000 families. Low-income families were over-sampled inthe original design. Interviews are usually conducted with the 'head' of eachfamily.Includes a lot of income and employment variables, and continues to trackchildren who grow up and move out.For more information see the PSID's Web site at http://www.isr.mich.edu/src/psid/index.htmlContexts: labor; datapublic economics:A subfield that includes public goodsand common pool resources,and public financemeaning taxes and public borrowing andspending.Source: fieldspublic finance:Relevant terms: AGI,contingent valuation,embedding effect,existence value,Lerman ratio,Lucas critique,nonuse value,SCF,Survey of Consumer Finances,Tobin tax.Contexts: fieldspurchase accounting:One of two ways to do the accounting for a U.S. firm after a merger. Thealternative is the pooling of interests.Contexts: accountingput option:A put option is a security which conveys the right to sell a specifiedquantity of an underlying asset at or before a fixed date.Contexts: finance; businessput-call parity:A relationship between the price of a put optionand a calloptionon a stock according to a standard model.Define:r as the risk-free interest rate, constant over time, in an environment withno liquidity constraintsS as a stock's pricet as the current dateT as the expiration date of a put option and a call optionK as the strike price of the put option and call optionC(S,t) as the price of the call option when the current stock price is S andthe current date is tP(S,t) as the price of the put option when the current stock price is S andthe current date is tThen the relationship is:P(S,t) = C(S,t) - S + Ke-r(T-t)The relationship is derived from the fact that combinations of options canmake portfolios that are equivalent to holding the stock through time T, andthat they must return exactly the same amount or an arbitragewould beavailable to traders.Contexts: financeputting-out system:"A condition for the putting-out system to exist was for labor to be paid apiece wage, since working at home made the monitoring of time impossible."-- Joel Mokyr, NU working paper: "The rise and fall of the factory system:technology, firms, and households since the industrial revolution"Carnegie-Rochester Conference on macreconomics, Nov 17-19, 2000.Source: Joel Mokyr, NU working paper: "The rise and fall of the factorysystem: technology, firms, and households since the industrial revolution"Carnegie-Rochester Conference on macreconomics, Nov 17-19, 2000.putty-putty:As in Romer, JPE, Oct 1990. This describes an attribute of capital in somemodels. Putty-putty capital can be transformed into durable goods then backinto general, flexible capital. This contrastswith putty-clay capital which if I understand correctly can be convertedinto durable goods but which cannot then be converted back intore-investable capital. The algebraic modeler chooses one of these to makean argument or arrive at a conclusion within the model. The term is notnormally interpreted empirically although empirical analogues to each kindof capital exist.Source: Romer, 1990Contexts: macro; modelsQ ratio:Or, "Tobin's Q". The ratio of the market value of a firm to thereplacement cost of everything in the firm. In Tobin's model this was thedriving force behind investment decisions.Contexts: macro; finance; modelsQ-statistic:Of Ljung-Box. A test for higher-order serial correlation in residuals from aregression.Source: RATS manual, p. 1-15Contexts: time series; estimation; econometricsQJE:Quarterly Journal of EconomicsContexts: journalsQLR:quasi-likelihood ratio statisticContexts: econometrics; time seriesQML:Stands for quasi-maximum likelihood.Contexts: econometrics; estimationquango:Stands for quasi-non-governmental organization, such as the U.S. FederalReserve. The term is British.Contexts: phrasesquantity theory of money:There are multiple versions and interpretations of quantity theories of money.A central idea is that if there is more money in an economic system, priceswill go up. Here, moneyincludes cash and various kinds of creditwhich serve as intermediaries in purchases.A core basic expression of this theory is in an equation described by Patinkin(?) in Leeson(2003) as cited by Samuels (2005). The quantity theory relatesthese variables:- the quantity of money (M)- its velocity (V) (that is the speed with which money changes hands onaverage)- thus producing the aggregate demand for goods and services (MV)- the price level (P)- and the level of output of goods and services (T)by this equation: MV=PT.An implication of this construction is that the monetary authorities have somecontrol over prices, in a way that is not direct but through a whole system ofpurchases, production, and consumption.Contexts: monetaryquartic kernel:The quartic kernel is this function: (15/16)(1-u2)2 for-1>u>1 and zero for u outside that range. Here u=(x-xi)/h,where h is the window width and xi are the values of theindependent variable in the data, and x is the value of the independentvariable for which one seeks an estimate.For kernel estimation.Source: Hardle, 1990Contexts: econometrics; nonparametrics; estimationquasi rents:returns in excess of the short-run opportunity cost of the resources devotedto the activitySource: Jensen (86)Contexts: micro; financequasi-differencing:a process that makes GLS easier, computationally, in a fixed-effects kind ofcase. One generates a (delta) with an equation [see B. Meyer's notes,installment 2, page 3] then subtracts delta times the average of eachindividual's x from the list of x's, and delta times each individual's y fromthe list of y's, and can run OLS on that. The calculation of delta requiressome estimate of the idiosyncratic (epsilon) error variance and the individualeffects (mu) error variance.Contexts: econometrics; estimationquasi-hyperbolic discounting:A way of accounting in a model for the difference in the preferences an agenthas over consumption now versus consumption in the future.Let b and d be scalar real parameters greater than zero and less than one.Events t periods in the future are discounted by the factor bdt.This formulation comes from a 1999 working paper of C. Harris and D. Laibsonwhich cites Phelps and Pollak (1968) and Zeckhauser and Fels (1968) for thisfunction.Contrast hyperbolic discounting, and see more information on discountrates at that entry.Source: "Dynamic choices of hyperbolic consumers"", working paper byChristopher Harris and David Laibson.Contexts: models; macro; dynamic optimizationquasi-maximum likelihood:Often abbreviated QML. Maximum likelihood estimation can't be applied to aeconometric model which has no assumption about error distributions, and maybe difficult if the model has assumptions about error distributions but theerrors are not normally distributed. Quasi-maximum likelihood is maximumlikelihood applied to such a model with the alteration that errors arepresumed to be drawn from a normal distribution. QML can often makeconsistent estimates.QML estimators converge to what can be called a quasi-true estimate; they havea quasi-score function which produces quasi-scores, and a quasi-informationmatrix. Each has maximum likelihood analogues.Contexts: econometrics; estimationquasiconcave:A function f(x) mapping from the reals to the reals is quasiconcave if it isnondecreasing for all values of x below some x0 and nonincreasingfor all values of x above x0. x0 can be infinity ornegative infinity: that is, a function that is everywhere nonincreasing ornondecreasing is quasiconcave.Quasiconcave functions have the property that for any two points in thedomain, say x1 and x2, the value of f(x) on all pointsbetween them satisfies:f(x) <= min{f(x1), f(x2)}.Equivalently, f() is quasiconcave iff -f() is quasiconvex.Equivalently, f() is quasiconcave iff for any constant real k, the set ofvalues x in the domain of f() for which f(x) <= k is a convex set.The most common use in economics is to say that a utility function isquasiconcave, meaning that in the relevant range it is nondecreasing.A function that is concave over some domain is also quasiconcave over thatdomain. (Proven in Chiang, p 390).A strictly quasiconcave utility function is equivalent to a strictlyconvex set of preferences, according to Brad Heim and Bruce Meyer (2001) p.17.Source: Simon and Blume, Chiang, pp 387-399Contexts: real analysisquasiconvex:A function f(x) mapping from the reals to the reals is quasiconvex if it isnonincreasing for all values of x below some x0 and nondecreasingfor all values of x above x0. x0 can be infinity ornegative infinity: that is, a function that is everywhere nonincreasing ornondecreasing is quasiconvex.Quasiconvex functions have the property that for any two points in the domain,say x1 and x2, the value of f(x) on all points betweenthem satisfies:f(x) >= max{f(x1), f(x2)}.Equivalently, f() is quasiconvex iff -f() is quasiconcave.Equivalently, f() is quasiconvex iff for any constant real k, the set ofvalues x in the domain of f() for which f(x) >= k is a convex set.A function that is convex over some domain is also quasiconvex over thatdomain. (Proven in Chiang, p 390).Source: Simon and Blume, Chiang, pp 387-399Contexts: real analysisquasilinear:A utility functionU() is quasilinear in one of its arguments, c, if amonotonic transformationof U() has this form for some v():U(c,x1,x2,...xk) = c +v(x1,x2,...xk)[ed: Your editor no longer recalls why one would care if a utility functionhas this property or not.]Contexts: models; utilityR&D intensity:Sometimes defined to be the ratio of expenditures by a firm on research anddevelopment to the firm's sales.Source: Levin, Richard C., Alvin K. Klevorick, Richard R. Nelson, Sidney G.Winter. 1987. "Appropriating the Returns from Industrial Research andDevelopment." Brookings Papers on Economic Activity, voume 1987, issue3. pp 783-820. (see p. 812 for the definition of this term.)R-squared:Usually written R2. Is the square of the correlation coefficientbetween the dependent variable and the estimate of it produced by theregressors, or equivalently defined as the ratio of regression varianceto total variance.Source: Kennedy, 1992; Greene,1993, p 72Contexts: econometricsRamsey equilibrium:Results from a government's choice in certain kinds of models. Suppose thatthe government knows how private sector producers will respond to any economicenvironment, and that the government moves first, choosing some aspect of theenvironment. Suppose further that the government makes its choice in order tomaximize a utility function for the population. Then the government's choiceis a Ramsey problem and its solution pays off with the Ramseyoutcome.Contexts: macroRamsey outcome:The payoffs from a Ramsey equilibrium.Contexts: macroRamsey problem:See Ramsey equilibrium.random:Not completely predetermined by the other variables available.Examples: Consider the function plus(x,y) which we define to have the valuex+y. Every time one applies this function to a given x and y, it would givethe same answer. Such a function is deterministic, that is,nonrandom.Consider by contrast the function N(0,1) which we define to give back a drawfrom a standard normaldistribution. This function does not return thesame value every time, even when given the same parameters, 0 and 1. Such afunction is random, or stochastic.Contexts: statistics; econometrics; time seriesrandom effects estimation:The GLSprocedure in the context of panel data.Fixed effects and random effects are forms of linear regression whoseunderstanding presupposes an understanding of OLS.In a fixed effects regression specification there is a binary variable(also called dummy or indicator variable) marking cross section unitsand/or time periods. If there is a constant in the regression, one crosssection unit must not have its own binary variable marking it.From Kennedy, 1992, p. 222:"In the random effects model there is an overall intercept and an errorterm with two components: eit + ui. The eitis the traditional error term unique to each observation. The uiis an error term representing the extent to which the intercept of theith cross-sectional unit differs from the overall intercept. . . . .This composite error term is seen to have a particular type ofnonsphericalness that can be estimated, allowing the use of EGLS forestimation. Which of the fixed effects and the random effects models isbetter? This depends on the context of the data and for what the results areto be used. If the data exhaust the population (say observations on all firmsproducing automobiles), then the fixed effects approach, which producesresults conditional on the units in the data set, is reasonable. If the dataare a drawing of observations from a large population (say a thousandindividuals in a city many times that size), and we wish to draw inferencesregarding other members of that population, the fixed effects model is nolonger reasonable; in this context, use of the random effects model has theadvantage that it saves a lot of degrees of freedom. The random effects modelhas a major drawback, however: it assumes that the random error associatedwith each cross-section unit is uncorrelated with the other regressors,something that is not likely to be the case. Suppose, for example, that wagesare being regressed on schooling for a large set of individuals, and that amissing variable, ability, is thought to affect the intercept; since schoolingand ability are likely to be correlated, modeling this as a random effect willcreate correlation between the error and the regressor schooling (whereasmodeling it as a fixed effect will not). The result is bias in thecoefficient estimates from the random effect model."[Kennedy asserts, then, that fixed and random effects often produce verydifferent slope coefficients.]The Hausman testis one way to distinguish which one makessense.Source: Kennedy, 1992Contexts: estimation; econometricsrandom process:Synonym for stochastic process.Contexts: statistics; models; econometrics; time seriesrandom variable:A nondeterministic function. See random.Contexts: statisticsrandom walk:A random walk is a random processyt like:yt=m+yt-1+etwhere m is a constant (the trend, often zero) andet is white noise.A random walk has infinite variance and a unit root.Source: Greene, 1993, p 559Contexts: econometrics; statistics; time series; modelsRao-Cramer inequality:defines the Cramer-Rao lower bound, which see.(would like to put equation from Hogg and Craig p 372 here)Source: Hogg and Craig p 372Contexts: econometrics; statistics; estimationrational:An adjective. Has several definitions.:(1) characterizing behavior that purposefully chooses means to achieve ends(as in Landes, 1969/1993, p 21).(2) characterizing preferences which are complete and transitive, andtherefore can be represented by a utility function (e.g. Mas-Coleil).(3) characterizing a thought process based on reason; sane; logical. Can beused in regard to behavior. (e.g. American HeritageDictionary, p 1028)Contexts: phrases; modellingrational expectations:An assumption in a model: that the agent under study uses a forecastingmechanism that is as good as is possible given the stochastic processes andinformation available to the agent.Often in essence the rational expectations assumption is that the agent knowsthe model, and fails to make absolutely correct forecasts only because of theinherent randomness in the economic environment.Contexts: macrorational ignorance:The option of an agent not to acquire or process information about some realm.Ordinarily used to describe a citizen's choice not to pay attention topolitical issues or information, because paying attention has costs in timeand effort, and the effect a citizen would have by voting per se is usuallyzero.Source: Downs (1957): An economic theory of democracy, according toG.Miller, "The impact of economics on contemporary politicalscience", Sept 1997 JEL.Contexts: phrases; politicalrationalizable:In a noncooperative game, a strategy of player i is rationalizable iff it is abest responseto a possible set of actions of the other players, wherethose actions are best responses given beliefs that those other players mighthave.By rationalizable we mean that i's strategy can be justified in terms of theother players choosing best responses to some beliefs (subjective probabilitydistributions) that they may be conjectured to have.Nash strategies are rationalizable.For a more formal definition see sources. This is a rough paraphrase.Source: Bernheim, 1984, p 1014Contexts: game theoryrationalize:verb, meaning: to take an observed or conjectured behavior and find a modelenvironment in which that behavior is an optimal solution to an optimizationproblem.Contexts: phrases; modellingRATS:A computer program for the statistical analysis of data, especially timeseries. Name stands for Regression Analysis of Time Series.First chapter of its manual has a nice tutorial.The software is made by EstimaCorp.Contexts: data; estimation; codeRBC:stands for Real Business Cycle (which see) -- a class of macrotheoriesContexts: models; macroreal analysis:Relevant terms: affine,B1,Banach space,Borel set,Borel sigma-algebra,Cauchy sequence,compact,convolution,even function,extended reals,Frechet derivative,Frechet differentiable,functional,Hilbert space,Holder continuous,inf,L,L,L,Lipschitz condition,Lipschitz continuous,lower hemicontinuous,measurable,measurable space,measure,narrow topology,quasiconcave,quasiconvex,Riemann-Stieltjes integral,sigma-algebra,sup,topological space,topology,upper hemicontinuous,Weierstrauss Theorem.Contexts: fieldsreal bills doctrine:In the Great Depression of the 1930s, the Federal Reserve did not providesufficient money to prevent a series of banking panics. "The Fed erred, saysMeltzer, because it followed a theory (named 'real bills') that called for itto create money only in response to higher loan demand; because loan demandhad collapsed, the Fed was too passive."from "Greenspan's Finest Hour?" by Robert J. Samuelson, published in the Dec15, 2003 Newsweek, page 39, which cites Allan Meltzer's book AHistory of the Federal Reserve.Source: from "Greenspan's Finest Hour?" by Robert J. Samuelson, published inthe Dec 15, 2003 Newsweek, page 39, which cites Allan Meltzer's book AHistory of the Federal Reserve.Contexts: monetary; economic historyreal business cycle theory:A class of theories explored first by John Muth (1961), and associated mostwith Robert Lucas. The idea is to study business cycles with the assumptionthat they were driven entirely by technology shocksrather than bymonetary shocks or changes in expectations.Shocks in government purchases are another kind of shock that can appear in apure real business cycle (RBC) model. Romer, 1996, p151Source: Among others: Romer, 1996, p 151Contexts: macro; modelsreal externality:An effect of production or transactions on outside parties that affectssomething entering their production or utility functions directly.Contexts: general equilibriumrecession:A recession is defined to be a period of two quarters of negative GDP growth.Thus: a recession is a national or world event, by definition. Andstatistical aberrations or one-time events can almost never create arecession; e.g. if there were to be movement of economic activity (measured orreal) around Jan 1, 2000, it could create the appearance of only one quarterof negative growth. For a recession to occur the real economy mustdecline.Contexts: macroreduced form:The reduced form of an econometric model has been rearranged algebraically sothat each endogenous variable is on the left side of one equation, and onlypredetermined variables (exogenous variables and lagged endogenous variables)are on the right side.Source: Johnston, p 440Contexts: econometrics; estimationregression function:A regression function describes the relationship between dependent variable Yand explanatory variable(s) X. One might estimate the regression functionm() in the econometric modelYi = m(Xi) + eiwhere the ei are the residuals or errors. As presented that is anonparametric or semiparametric model, with few assumptions about m(). If onewere to assume also that m(X) is linear in X one would get to a standardlinear regression model:Yi = (Xi)b + eiwhere the vector b could be estimated.Source: Hardle, 1990Contexts: econometrics; estimationregrettables:consumption items that to not directly produce utility, such as healthmaintenance, transportation to work, and "waiting times"Source: Glen Cain, Handbook articleContexts: laborRegulation Q:A U.S. Federal Reserve System rule limiting the interest rates that U.S. banksand savings and loan institutions could pay on deposits.Source: Glasner, p. 162Contexts: history; IOreinsurance:Insurance purchased by an insurer, often to protect against especially largerisks or risks correlated to other risks the insurer faces.Contexts: businessrejection region:In hypothesis testing. Let T be a test statistic. Possible values of T canbe divided into two regions, the acceptance region and the rejection region.If the value of T comes out to be in the acceptance region, the nullhypothesisH0 (the set of restrictions being tested) isaccepted, or at any rate not rejected. If T falls in the rejection region,the null hypothesis is rejected.The terms 'acceptance region' and 'rejection region' may also refer to thesubsets of the sample space that would produce statistics T that go into theacceptance region or rejection region as defined above.Source: Davidson and MacKinnon, 1993, p 78-79Contexts: econometrics; estimationrent-seeking:Rent-seeking means a search for extraordinary profits, beyond the normalreturns to investment. It often implies putting someone else at adisadvantage. See rentsand quasi-rents.rents:Rents are returns in excess of the opportunity cost of the resources devotedto the activity.Source: Jensen (86)Contexts: micro; financeresale price maintenance:The effect of rules imposed by a manufacturer on wholesale or retail resellersof its own products, to prevent them from competing too fiercely on price andthus driving profits down from the reselling activity. The manufacturer maydo this because it wishes to keep resellers profitable. Such contractprovisions are usually legal under US law but have not always been allowedsince they formally restrict free trade.With thanks to: Jonathan G. Powers (jgp423@northwestern.edu as of 12 July2000)Contexts: industrial organizationreservation wage property:A model has the reservation wage property if agents seeking employment in themodel accept all jobs paying wages above some fixed value and reject all jobspaying less.Contexts: labor; macroresidual claimant:The agent who receives the remainder of a random amount once predictablepayments are made.The most common example: consider a firm with revenues, suppliers, and holdersof bonds it has issued, and stockholders. The suppliers receive thepredictable amount they are owed. The bondholders receive a predictablepayout -- the debt, plus interest. The stockholders can claim the residual,that is, the amount left over. It may be a negative amount, but it may belarge. The same idea of a residual claimant can be applied in analyzing othercontracts.There is a historical link to theories about wages; seehttp://britannica.com/bcom/eb/article/9/0,5716,109009+6+106209,00.htmlContexts: corporate financeresiliency:An attribute of a market.In securities markets, depth is measured by "the speed with which pricesrecover from a random, uninformative shock." (Kyle, 1985, p1316).Source: Kyle, 1985, p 1316Contexts: financeReStat:An abbrevation for the Review of Economics and Statistics.Contexts: journalsrestricted estimate:An estimate of parameters taken with the added requirement that someparticular hypothesis about the parameters is true. Note that the variance ofa restricted estimated can never be as low as that of an unrestrictedestimate.Contexts: econometrics; estimationrestriction:assumption about parameters in a modelContexts: econometrics; estimationReStud:An abbreviation for the journalReview of Economic Studies.Contexts: journalsrevelation principle:That truth-telling, direct revelation mechanisms can generally be designed toachieve the Nash equilibriumoutcome of other mechanisms; this can beproven in a large category of mechanism design cases.Relevant to a modelling (that is, theoretical) context with:-- two players, usually firms-- a third party (usually the government) managing a mechanismtoachieve a desirable social outcome-- incomplete information -- in particular, the players have types that arehidden from the other player and from the government.Generally a direct revelation mechanism (that is, one in which the strategiesare just the types a player can reveal about himself) in which telling thetruth is a Nash equilibrium outcome can be proven to exist and be equivalentto any other mechanism available to the government. That is the revelationprinciple. It is used most often to prove something about the whole class ofmechanism equilibria, by selecting the simple direct revelation mechanism,proving a result about that, and applying the revelation principle to assertthat the result is true for all mechanisms in that context.Source: Kreps, 1990, p 691, 694Contexts: micro theoryRicardian proposition:that tax financing and bond financing of a given stream of governmentexpenditures lead to equivalent allocations. This is the Modigliani-Millertheorem applied to the government.Contexts: macro; modelsridit scoring:A way of recoding variables in a data set so that one has a measure not oftheir absolute values but their positions in the distribution of observedvalues. Defined in this broadcast to the list of Statausers:Date: Sat, 20 Feb 1999 14:13:35 +0000From: Ronan ConroySubject: Re: statalist: Standardizing VariablesPaul Turner said (19/2/99 9:54 pm)<I have two variables--X1 and X2--measured on ordinal scales. X1 ranges<from 0 to 10; X2 ranges from 0 to 12. What I want to do is to standardize<X1 and X2 to a common metric in order to explore how differences between<the two affect the dependent variable of interest. Converting values to<percentages of the maximum values (10 and 12) is the first approach that<occurs to me, but I don't know if there's something I'm forgettingThis sort of thing is possible, and called ridit scoring. You replaceeach of the original scale points with the percentage (or proportion) ofthe sample who scored at or below that value. This gives the scales acommon interpretation as percentiles of the sample, and means that theyare now expressed on an interval metric, though the data are still grainy._/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/ _/_/ _/_/_/ _/ Ronan M Conroy_/ _/ _/ _/ _/ _/ Lecturer in Biostatistics_/_/_/ _/ _/_/_/ _/ Royal College of Surgeons_/ _/ _/ _/ _/ Dublin 2, Ireland_/ _/ _/_/ _/_/_/ _/ voice +353 1 402 2431rconroy@rcsi.ie fax +353 1 402 2329_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/I'm not an outlier; I just haven't found my distribution yetSource: Ronan Conroy (rconroy@rcsi.ie)Contexts: data; estimationRiemann-Stieltjes integral:A generalization of regular Riemann integration.Let | denote the integral sign. Quoting from Priestly:"...when we have two deterministic functions g(t),F(t), theRiemann-Stieltjes integralR = |ab g(t)dF(t)is defined as the limiting value of the discrete summation"(sum from i=1 to i=n of)g(ti)[F(ti)-F(ti-1)]for t1=a and tn=b as n goes to infinity and "asmax(ti-ti-1)-<0."If F(t) is differentiable, then the above integral is the same as the regularintegral R=|ab g(t)F'(t) dt, but the Reimann-Stieltjesintegral can be defined in many cases even when F() is notdifferentiable.One of the most common uses is when F() is a cdf.Examples: The expectation of a random variable can be written:mu=| xf(x) dxif f(x) is the pdf. It can also be written:mu=| x dF(x)where F(x) is the cdf. The two are equivalent for a continuous distribution,but notice that for a discrete one (e.g. a coin flip, with X=0 for heads andX=1 for tails) the second, Riemann-Stieltjes, formulation is well defined butno pdf exists to calculate the first one.Source: Priestly, 1981, 1994, p 155Contexts: econometrics; time series; real analysis; statisticsrisk:If outcomes will occur with known or estimable probability the decisionmakerfaces a risk. Certainty is a special case of risk in which this probabilityis equal to zero or one. Contrast uncertainty.Source: J. Montgomery, social networks paperContexts: modelsrisk free rate puzzle:See equity premium puzzle.Contexts: finance; macro; phrasesRJE:An abbreviation for the RAND Journal of Economics, which was previouslycalled the Bell Journal of Economics.Contexts: journalsRMPY:Stands for a standard VAR run on standard data, with interest rates (R), moneystock (M), inflation (P), and output (Y). In Faust and Irons (1996), theseare operationalized by the three-month Treasury bill rate, M2, the CPI, andthe GNP.Source: Jon Faust and John Irons (1996), "Money, politics, and thepost-War business cycle"Contexts: macroRobinson-Patman Act:U.S. legislation of 1936 which made rules against price discrimination byfirms. Agitation by small grocers was a principal cause of the law. Theywere under competitive pressure and displaced by the arrival of chain stores.The Act is thought by many to have prevented reasonable price competition,since it made many pricing actions illegal per se. For many of itsprovisions, 'good faith' was not a permitted defense. So it can be arguedthat it was confusing, vague, unnecessarily restrictive, and designed toprevent some competitors in retailing from being driven out rather than tofurther social welfare generally, e.g. by allowing pricing decisions thatwould benefit consumers.Other causes: glitches in an earlier law, the Clayton Act.Contexts: IO; historyrobust smoother:A robust smoother is a smoother (an estimator of a regression function) thatgives lower weights to datapoints that are outliers in they-direction.Source: Hardle, 1990Contexts: econometrics; estimationRoll critique:That the CAPMmay appear to be rejected in tests not because it iswrong but because the proxies for the market return are not close enough tothe true market portfolio available to investors.Contexts: financeroughness penalty:A loss function that one might incorporate into an estimate of a function toprevent the estimated function from matching the data closely but at the costof jerkiness. See 'spline smoothing' and 'cubic spline' for example uses.An example roughness penalty would be LI[m"(u)]2du, where L isa 'smoothing parameter', I stands for the integral sign, m"() is thesecond derivative of the estimated function, and u is a dummy variable thatranges over the domain of the estimated function.Source: Hardle, 1990, circa page 56Contexts: econometrics; estimationRybczynski theorem:Paraphrasing from Hanson and Slaughter (1999): In the context of aHeckscher-Ohlin modelof international trade, open trade betweenregions means changes in relative factor supplies between regions can lead toan adjustment in quantities and types of outputs between regions that wouldreturn the system toward equality of production input prices like wages acrosscountries (the state of factor price equalization).Such theorems are named this way by analogy to Rybczynski (1955), and refer tothat part of the mechanism that has to do with output adjustments.Source: Hanson, Gordon H., and Matthew J. Slaughter, "The Rybczinskitheorem,factor-price equalization, and immigration: evidence from U.S. states,"NBER working paper 7074, April 1999. On Web at http://www.nber.org/papers/w7074Rybczynski, T.M. 1955. "Factor endowments and relative commodityprices." Economica 22: 336-341.Contexts: trade; internationalS-Plus:Statistical software published byMathsoft.Contexts: data; estimations.t.:An abbreviation meaning "subject to" or "such that", whereconstraints follow.In a common usage:maxx f(x) s.t. g(x)=0The above expression, in words, means: "The value of f(x) that isgreatest among all those for which the argument x satisfies the constraintthat g(x)=0." (Here f() and g() are fixed, possibly known, real-valuedfunctions of x.)Contexts: notationsaddle point:In a second-order [linear difference equation] system, ... if one root hasabsolute value greater than one, and the other root has absolute value lessthan one, then the steady state of the system is called a saddle point.In this case, the system is unstable for almost all initial conditions. Theexception is the set of initial conditions that begin on the eigenvectorassociated with the stable eigenvalue.Source: Farmer, p. 30Contexts: macro; dynamical systems; modelsSargan test:A test of the validity of instrumental variables. It is a test of theoveridentifying restrictions. The hypothesis being tested is that theinstrumental variables are uncorrelated to some set of residuals, andtherefore they are acceptable, healthy, instruments.If the null hypothesis is confirmed statistically (that is, not rejected), theinstruments pass the test; they are valid by this criterion.In the Shi and Svensson working paper (which shows that elected nationalgovernments in 1975-1995 had larger fiscal deficits in election years,especially in developing countries), the Sargan statistic was asymptoticallydistributed chi-squared if the null hypothesis were true.See test of identifying restrictions, which is not exactly the samething, I think.Source: Shi and Svensson; Harvard University working paper circa 2000Contexts: econometricsSAS:Statistical analysis software. SAS websiteContexts: data; estimationscale economies:Same as economies of scale.Contexts: production theoryscatter diagram:A graph of unconnected points of data. If there are many of them the resultmay be 'clouds' of data which are hard to interpret; in such a case one mightwant to use a nonparametric technique to estimate a regressionfunction.Source: Greene, 1993, p 88Contexts: econometrics; estimationscedastic function:Given an independent variable x and a dependent variable y, the scedasticfunction is the conditional variance of y given x. That variance of theconditional distribution is:var[y|x] = E[(y-E[y|x])2|x]= integral or sum of (y-E[y|x])2f(y|x) dy= E[y2|x] - (E[y|x])2.Source: Greene, 1993, pp 68-69Contexts: econometricsSCF:Stands for Survey of Consumer Finances.Contexts: public finance; laborSchumpeterian growth:Paraphrasing from Mokyr (1990): Schumpeterian growth of economic growthbrought about by increase in knowledge, most of which is called technologicalprogress.Source: Mokyr, 1990, p. 4-6Contexts: history; macroSchwarz Criterion:A criterion for selecting among formal econometric models. The SchwarzCriterion is a number:T ln (RSS) + K ln(T)The criterion is minimized over choices of K to form a tradeoff between thefit of the model (which lowers the sum of squared residuals) and the model'scomplexity, which is measured by K. Thus an AR(K) model versus an AR(K+1) canbe compared by this criterion for a given batch of data.Source: RATS maual pg. 5-18Contexts: econometrics; time series; modelsScitovsky paradox:The problem that some ways of aggregating social welfare may make it possiblethat a switch from allocation A to allocation B seems like an improvement insocial welfare, but so does a move back. (An example may be Condorcet'svoting paradox.)Scitovsky, T., 1941, "A Note on Welfare Propositions in Economics", Reviewof Economic Studies, Vol 9, Nov 1941, pp 77-88.The Scitovsky criterion (for a social welfare function?) is that the Scitovskyparadox not exist.Source: Boadway 1974; ScitovskyContexts: publicscore:In maximum likelihood estimation, the score vector is the gradient of thelikelihood function with respect to the parameters. So it has the same numberof elements as the parameter vector does (often denoted k). The score is arandom variable; it's a function of the data. It has expectation zero, and isset to zero exactly for a given sample in the maximum likelihood estimationprocess.Denoting the score as S(q), and the likelihoodfunction as L(q), where in both cases the data arealso implied arguments:S(q) = dL(q)/d(q)Example: In OLS regression of Yt=Xtb+et, the score for each possible parametervalue, b, isXt'et(b).The variance of the score is E[score2]-(E[score])2)which is E[score2] since E[score] is zero. E[score2] isalso called the information matrixand is denoted I(q).Contexts: econometrics; estimationscreening game:A gamein which an uninformed player offers a menu of choices to theplayer with private information (the informed player). The selectionof the elements of that menu (which might be, for example, employmentcontracts containing pairs of pay rates and working hours) is a choice for theuninformed player to optimize on the basis of expectations about they possibletypes of the informed player.Contexts: game theorysecond moment:The second moment of a random variable is the expected value of the square ofthe draw of the random variable. That is, the second moment isEX2. Same as 'uncentered second moment' as distinguished from thevariance which is the 'centered second moment.'Contexts: econometrics; statisticsSecond Welfare Theorem:A Pareto efficient allocation can be achieved by a Walrasian equilibrium ifevery agent has a positive quantity of every good, and preferences are convex,continuous, and strictly increasing.(My best understanding of 'convex preferences' is that it means 'concaveutility function'.)Contexts: general equilibrium; modelssecular:an adjective meaning "long term" as in the phrase "seculartrends." Outside the research context its more common meaning is 'notreligious'.seigniorage:Alternate spelling for seignorage.seignorage:"The amount of real purchasing power that [a] government can extract fromthe public by printing money."" -- Cukierman 1992Explanation: When a government prints money, it is in essence borrowinginterest-free since it receives goods in exchange for the money, and mustaccept the money in return only at some future time. It gains further ifissuing new money reduces (through inflation) the value of old money byreducing the liability that the old money represents. These gains to amoney-issuing government are called "seignorage" revenues.The original meaning of seignorage was the fee taken by a money issuer (agovernment) for the cost of minting the money. Money itself, at that time,was intrinsically valuable because it was made of metal.Source: Cukierman, 1992Contexts: moneyself-generating:Given an operator B() that operates on sets, a set W is self-generating if Wis contained in B(W).This definition is in Sargent (98) and may come from Abreu, Pearce, andStacchetti (1990).semi-nonparametric:synonym for semiparametric.Contexts: econometricssemi-strong form:Can refer to the semi-strong form of the efficient markets hypothesis, whichis that any public information about a security is fully reflected in itscurrent price.Fama (1991) says that a more common and current name for tests of thesemi-strong form hypothesis is 'event studies.'Source: Fama, 1970, p 404Contexts: financesemilog:The semilog equation is an econometric model:Y = ea+bX+eor equivalentlyln Y = a + bX + eCommonly used to describe exponential growth curves. (Greene 1993, p239)Source: Greene, 1993, p 239Contexts: econometricssemiparametric:An adjective that describes an econometric model with some components that areunknown functions, while others are specified as unknown finite dimensionalparameters.An example is the partially linear model.Source: Tripathi, 1996, p 2Contexts: econometrics, statisticssenior:Debts may vary in the order in which they must legally be paid in the event ofbankruptcy of the individual or firm that owes the debt. The debts that mustbe paid first are said to be senior debts.Contexts: financeSES:socioeconomic statusContexts: labor; sociologyshadow price:In the context of a maximization problem with a constraint, the shadow priceon the constrain is the amount that the objective function of the maximizationwould increase by if the constraint were relaxed by one unit.The value of a Lagrangian multiplier is a shadow price.This is a striking and useful fact, but takes some practice tounderstand.Source: Layard and Glaister, p 8shakeout:A period when the failure rate or exit rate of firms from an industry isunusually high.Source: Philip Anderson and Michael L. Tushman, Research-TechnologyManagement, May/June 1991, pp. 26-31.Contexts: IO; business historysharing rule:A function that defines the split of gains between a principal and agent. Thegains are usually profits, and the split is usually a linear rule that gives afraction to the agent.For example, suppose profits are x, which might be a random variable. Theprincipal and agent might agree, in advance of knowing x, on a sharing rules(x). Here s(x) is the amount given to the agent, leaving the principal withthe residual gain x-s(x).Source: very roughly taken from Holmstrom (82)Contexts: game theory; micro theory; modelsSharpe ratio:Computed in context of the Sharpe-Linter CAPM. Defined for an assetportfolio a that has mean ma, standarddeviation sa, and with risk-free raterf by:[ma-rf]/saHigher Sharpe ratios are more desirable to the investor in this model.The Sharpe ratio is a synonym for the "market price of risk."Empirically, for the NYSE, the Sharpe ratio is in the range of .30 to.40.Contexts: financeSHAZAM:Econometric software published at the University of British Columbia. Seehttp://shazam.econ.ubc.ca.Contexts: data; estimationShephard's lemma:Source: Shephard (1953) cited in Zegeye (2001)Sherman Act:1890 U.S. antitrust law. It has been described as vague, leading to ambiguousinterpretations over the years.Section one of the law forbids certain joint actions: "Every contract,combination in the form of trust or otherwise, or conspiracy, in restraint oftrade or commerce among the several states, or with foreign nations, is herebydeclared illegal...."Section two of the law forbids certain individual actions: "Every personwho shall monopolize, or attempt to monopolize, or combine or conspire withany other person or persons, to monopolize any part of the trade or commerceamong the several states, or with foreign nations, shall be deemed guilty of afelony..."The reasons for the passage of the Sherman Act:(1) To promote competition to benefit consumers,(2) Concern for injured competitors,(3) Distrust of concentration of power.Source: lectures and handouts of Michael Whinston at Northwestern U inEconomics D50, Winter 1998Contexts: IO; antitrust; regulationshort rate:Abbreviation for 'short term interest rate'; that is, the interest ratecharged (usually in some particular market) for short term loans.Contexts: financeShubik model:A theoretical model designed to study the behavior of money. There are Ngoods traded in N(N-1) markets, one for each possible combination of good iand good j that could be exchanged. One assumes that only N of these marketsare open; that good 0, acting as money, is traded for each of the othercommodities but they are not exchanged for one another. Then one can studythe behavior of the money good.Contexts: money; modelsSIC:Standard Industrial Classification code -- a four-digit number assigned toU.S. industries and their products. By "two-digit industries" wemean a coarser categorization, grouping the industries whose first two digitsare the same.Contexts: IO; datasieve estimators:flexible basis functions to approximate a function being estimated. It may bethat orthogonal series, splines, and neural networks are examples. Donald(1997) and Gallant and Nychka (1987) may have more information.Source: Chen, Xiaohong, and Timothy G. Conley, &A semiparametric spatial modelfor panel time series" Preliminary Northwestern University workingpaper, January 1999.Donald, Stephen G. 1997. "Inference concerning the number of factors ina multivariate nonparametric relationship" Econometrica65:103-132.Gallant, A.R. and Nychka, D. 1987. "Semi-non-parametric maximumlikelihood estimation" Econometrica 55:363-390.Contexts: econometricssigma-algebra:A collection of sets that satisfy certain properties with respect to theirunion. (Intuitively, the collection must include any result ofcomplementations, unions, and intersections of its elements. The effect is todefine properties of a collection of sets such that one can define probabilityon them in a consistent way.) Formally:Let S be a set and A be a collection of subsets of S.A is a sigma-algebra of S if:(i) the null set and S itself are members of A(ii) the complement of any set in A is also in A(iii) countable unions of sets in A are also in A.It follows from these that a sigma-algebra is closed under countablecomplementation, unions, and intersections.Contexts: math; measure theory; real analysissignaling game:A gamein which a player with private information (the informedplayer) sends a signal of his private type to the uninformed player beforethe uninformed player makes a choice. An example: a candidate worker mightsuggest to the potential employer what wage is appropriate for himself in anegotiation.Contexts: game theorysignificance:A finding in economics may be said to be of economic significance (orsubstantive significance) if it shows a theory to be useful or notuseful, or if has implications for scientific interpretation or policypractice (McCloskey and Ziliak, 1996). Statistical significance is propertyof the probability that a given finding was produced by a stated model but atrandom: see significance level.These meanings are different but sometimes overlap. McCloskey and Ziliak(1996) have a substantial discussion of them. Ambiguity is common inpractice, but not hard to avoid. (Editorial comment follows.) When thesecond meaning is intended, use the phrase "statisticallysignificant" and refer to a level of statistical significance or ap-value. Avoid the aggressive word "insignificant" unless itis clear whether the word is to be taken to mean substantivelyinsignificant or not statistically significant.Source: McCloskey, Deirdre N., and Stephen T. Ziliak. "The standarderror of regressions," Journal of Economic Literature vol XXXIV(March 1996), pp 97-114.Contexts: phrases; statistics; econometrics; estimationsignificance level:The significance level of a test is the probability that the test statisticwill reject the null hypothesis when the [hypothesis] is true. Significanceis a property of the distribution of a test statistic, not of any particulardraw of the statistic.Synonymous with statistical 'size' of a test.Source: Davidson and MacKinnon, 1993, p 78-79Contexts: econometrics; estimationsimulated annealing:A method of finding optimal values numerically. Simulated annealing is asearch method as opposed to a gradient based algorithm. It chooses a newpoint, and (for optimization) all uphill points are accepted while somedownhill points are accepted depending on a probabilistic criteria.Unlike the simplex search method provided by Matlab, simulated annealing mayallow "bad" moves thereby allowing for escape from a local max. Thevalue of a move is evaluated according to a temperature criteria (whichessentially determines whether the algorithm is in an "hot" area ofthe function).Source: Mark Manuszak (as of 5/25/99, mdm080@nwu.edu of Northwestern Univ);Matlab documentationContexts: optimization; estimation; numerical techniquessimultaneous equation system:By "system" is meant that there are multiple, related, estimable equations.By simultaneous is meant that two quantities are jointly determined at time tby one another's values at time t-1 and possibly at t also.Example, from Greene, (1993, p. 579), of marketequilibrium:qd=a1p+a2+ed (Demand equation)qs=b1p+es (Supply equation)qd=qs=qHere the quantity supplied is qs, quantity demanded isqd, price is p, the e's are errors or residuals, and the a's andb's are parameters to be estimated. We have data on p and q, and thequantities supplied and demanded are conjectural.Contexts: econometrics; estimationsingle-crossing property:Distributions with cdfs F and G satisfy the single-crossing property if thereis an x0 such that:F(x) <= G(x) for x>=x0andG(x) <= F(x) for x<=x0Contexts: models; statisticssink:"In a second-order [linear difference equation] system, if both roots arepositive and less than one, then the system converges monotonically to thesteady state. If the roots are complex and lie inside the unit circle thenthe system spirals into the steady state. If at least one root is negative,but both roots are less than one in absolute value, then the system will flipfrom one side of the steady state to the other as it converges. In all ofthese cases the steady state is called a sink." Contrast'source'.Source: Farmer, p. 29Contexts: macro; dynamical systems; modelsSIPP:The U.S.Survey of Income and ProgramParticipation, which is conducted by the U.S. Census Bureau.A tutorial is at:http://www.bls.census.gov/sipp/tutorial/SIPP_Tutorial_Beta_version/LAUNCHtutorial.htmlSource:http://www.sipp.census.gov/sippWith thanks to: Dan LevyContexts: datasize:A synonym for significance level.Source: Davidson and MacKinnon, 1993, p 78-79Contexts: econometrics; estimationskewness:An attribute of a distribution. A distribution that is symmetric around itsmean has skewness zero, and is 'not skewed'. Skewness is calculated asE[(x-mu)3]/s3 where mu is the mean and s is the standarddeviation.Source: Hogg and Craig, p 57Contexts: statisticsskill:In regular English usage means "proficiency". Sometimes used ineconomics papers to represent the experience and formal education. (Ed.: inthis editor's opinion that is a dangerously misleading use of the term; itinvites errors of thought and understanding.)Contexts: laborSLID:Stands for Survey of Labour and Income Dynamics. A Canadian governmentdatabase going back to 1993 at least.Web pages on this subject can be searched from:http://www.statcan.ca/english/search/index.htm.Contexts: data; laborSLLN:Stands for strong law of large numbers.Contexts: econometricsSMA:Structural Moving Average model, which seeContexts: econometricsSmithian growth:Paraphrasing directly from Mokyr, 1990: Economic growth brought about byincreases in trade.Source: Mokyr, 1990, pp 4-6Contexts: history; macrosmoothers:Smoothers are estimators that produce smooth estimates of regressionfunctions. They are nonparametric estimators. The most common andimplementable types are kernel estimators, k-nearest-neighbor estimators, andcubic spline smoothers.Source: Hardle, 1990Contexts: econometrics; nonparametrics; estimationsmoothing:Smoothing of a data set {Xi, Yi} is the act ofapproximating m() in a regression such as:Yi = m(Xi) + eiThe result of a smoothing is a smooth functional estimate of m().Source: Hardle, 1990Contexts: econometrics; estimationSMR:Standardized mortality ratioContexts: demography; epidemiologySMSA:Stands for Standard Metropolitan Statistical Area, a U.S. term for thestandard boundaries of urban regions for purpose of measurement. Defined bythe U.S. Census Bureau. There are 250-300 of these.Contexts: dataSNP:abbreviation for 'seminonparametric', which means the same thing assemiparametric.Contexts: econometricssocial capital:The relationships of a person which lead to economically productiveconsequences. E.g., they may produce something analogous to investmentreturns to that person, or socially productive consequences to a largersociety."'Social capital' refers to the benefits of strong social bonds. [SociologistJames] Coleman defined the term to take in 'the norms, the social interworks,the relationships between adults and children that are of value for thechildren's growing up.' The support of a strong community helps the childaccumulate social capital in myriad ways; in the [1990s U.S.] inner city,where institutions have disintegrated, and mothers often keep children lockedinside out of fear for their safety, social capital hardly exists." -- Traub(2000)Source: Traub, James. The New York Times. January 16, 2000. Sunday,Late Edition, final. Article in section 6, starting page 52, column 1,Magazine Desk.A World Bank publication suggests that James Coleman has a "classic 1987article" called "Social Capital in the Creation of HumanCapital" which was fundamental to the use of the term social capital inthe social sciences.With thanks to: Isaac McFarlin for finding this definitionContexts: labor; sociology; educationsocial planner:One solving a Pareto optimality problem. The problem faced by a socialplanner will have as an answer an allocation, without prices.Also, "the social planner is subject to the same information limitationsas the agents in the economy." -- Cooley and Hansen p 185That is, the social planner does not see information that is hidden by therules of the game from some of the agents. If an agent happens not to knowsomething, but it is not hidden from him by the rules of the game, then thesocial planner DOES see it.Contexts: general equilibrium; modelssocial savings:A measurement of a new technology discussed in Crafts (2002). "How much moredid [a new technology] contribute than an alternative investment might haveyielded?" and cites Fogel (1979).social welfare function:A mapping from allocations of goods or rights among people to the realnumbers.Such a social welfare function (abbreviated SWF) might describe thepreferences of an individual over social states, or might describe outcomes ofa process that made allocations, whether or not individuals had preferencesover those outcomes.Contexts: models; public economicsSOFFEX:Swiss Options and Financial Futures ExchangeContexts: organizationsSolas:Software for imputing values to missing data, published byStatistical Solutions.Contexts: data; estimationSolovian growth:Paraphrasing from Mokyr (1990): Economic growth brought about by investment,meaning increases in the capital stock.Source: Mokyr, 1990, p. 4-6.Contexts: history; macroSolow growth model:Paraphrasing pretty directly from Romer, 1996, p 7:The Solow model is meant to describe the production function of an entireeconomy, so all variables are aggregates. The date or time is denoted t.Output or production is denoted Y(t). Capital is K(t). Labor time is denotedL(t). Labor's effectiveness, or knowledge, is A(t). The production functionis denoted F() and is assumed to have constant returns to scale. Ateach time t, the production function is:Y = F(K, AL)which can be written:Y(t) = F(K(t), A(t)L(t))AL is effective labor.Note variants of the way A enters into the production function. This one iscalled labor-augmentingor Harrod-neutral. Others arecapital-augmenting, e.g. Y=F(AK,L), or , likeY=AF(K,L).--------------------From _Mosaic of Economic Growth_:DEFN of Solow-style growth models: They come from the seminal Solow (1956)."In Solow-style models, there exists a unique and globally stable growth pathto which the level of labor productivity (and per capita output) willconverge, and along which the rate of advance is fixed (exogenously) by therate of technological progress." Many subsequent models of agg growth (likeRomer 1986) have abandoned the assumption that all forms of kap accumulationrun into diminishing marginal returns, and get different global convergenceimplications. (p22)Source: Romer, 1996, p 7;Solow, 1956; that is:Solow, Robert. "A contribution to the theory of economic growth."Quarterly Journal of Economics. Feb. 1956Contexts: macroSolow residual:A measure of the change in total factor productivityin aSolow growth model. This is a way of doing growth accountingempirically either for an industry or more commonly for a macroeconomy.Formally, roughly following Hornstein and Krusell (1996):Suppose that in year t an economy produces output quantity yt withexactly two inputs: capital quantity kt and labor quantitylt. Assume perfectly competitive markets and that production hasconstant returns to scale. Let capital's share of income be fixed overtime and denoted a. Then the change in total factor productivitybetween period t and period t+1, which is the Solow residual, is definedby:Solow residual = (log TFPt+1) - (log TFPt)= (log yt+1) - (log yt)- a(log kt+1) - a(log kt)- (1-a)(log lt+1) - (1-a)(log lt)Analogous definitions exist for more complicated models (with other factorsbesides capital and labor) or on an industry-by-industry basis, or withcapital's share varying by time or by industry.The equation may look daunting but the derivations are not difficult andstudents are sometimes asked to practice them until they are routine.Hulten (2000) says about the residual that:-- it measures shifts in the implicit aggregate production function.-- it is a nonparametric index number which measures that shift in acomputation that uses prices to measure marginal products.-- the factors causing the measured shift include technical innovation,organizational and institutional changes, fluctuations in demand, changes infactor shares (where factors are capital, labor, and sometimes measures ofenergy use, materials use, and purchased services use), and measurementerrors.From an informal discussion by this editor, it looks like the residualcontains these empirical factors, among others: public goods like highways;externalities from networks like the Internet; some externalities and lossesof capital services from disasters like September 11; theft; shirking; andtechnical / technological change.Source: Hornstein, Andreas, and Per Krusell. 1996. "Can technologyimprovements cause productivity slowdowns?" NBER MacroeconomicsAnnual 1996. MIT Press. pp 214-215.Hulten, 2000Contexts: macrosolution concept:A phrase relevant to game theory. A game has a 'solution' which may representa model's prediction. The modeler often must choose one of severalsubstantively different solution methods, or solution concepts, which can leadto different game outcomes. A solution concept may be preferred to others incontext where it makes a unique prediction. Game solution conceptsinclude:iterative elimination of strictly dominated strategiesNash equilibriumsubgame perfect equilibriumperfect Bayesian equilibriumContexts: phrases; game theory; modellingsource:"In a second-order [linear difference equation] system, ... if both rootsare positive and greater than one, then the system diverges monotonicallyto plus or minus infinity. If the roots are complex and [lie] outside theunit circle then the system spirals out away from the steady state. If atleast one root is negative, but both roots are greater than one in absolutevalue, then the system will flip from one side of the steady state to theother as it diverges to infinity. In each of these cases the steady state iscalled a source." Constrast 'sink'.Source: Farmer, p. 29Contexts: macro; dynamical systems; modelssparse:A matrix is sparse if many of its values are zero. A division of sample datainto discrete bins (that is into a multinomial table) is sparse if many of thebins have no data in them.Contexts: econometricsspatial autocorrelation:Usually autocorrelation means correlation among the data from different timeperiods. Spatial autocorrelation means correlation among the data fromlocations. There could be many dimensions of spatial autocorrelation, unlikeautocorrelation between periods.Nick J. Cox () wrote, in a broadcast to a listservdiscussing the software Stata, this discussion of spatialautocorrelation. It is quoted here without any explicit permissionwhatsoever. (Parts clipped out are marked by 'snip'.) If 'Moran measure' and'Geary measure' are standard terms used in economics I'll add them to theglossary.Date: Thu, 15 Apr 1999 12:29:10 GMTFrom: "Nick Cox"Subject: statalist: Spatial autocorrelation[snip...]First, the kind of spatial data considered here is data in two-dimensionalspace, such as rainfall at a set of stations or disease incidence in a set ofareas, not three-dimensional or point pattern data (there is a tree or adisease case at coordinates x, y). Those of you who know time series mightexpect from the name `spatial autocorrelation' estimation of a function,autocorrelation as a function of distance and perhaps direction. What isgiven here are rather single-value measures that provide tests ofautocorrelation for problems where the possibility of local influences is ofmost interest, for example, disease spreading by contagion. The set-up is thatthe value for each location (point or area) is compared with values for its`neighbours', defined in some way.The names Moran and Geary are attached to these measures to honour the pioneerwork of two very fine statisticians around 1950, but the modern theory is dueto the statistical geographer Andrew Cliff and the statistician Keith Ord.For a vector of deviations from the mean z, a vector of ones 1, and a matrixdescribing the neighbourliness of each pair of locations W, the Moran measurefor example is(z' W z) / (z' z)I = -----------------(1' W 1) / (1' 1)where ' indicates transpose. This measure is for raw data, not regressionresiduals.[snip; and the remainder discusses a particular implementation of a spatialautocorrelation measuring function in Stata.]For n values of a spatial variable x defined for various locations,which might be points or areas, calculate the deviations_z = x - xand for pairs of locations i and j, define a matrixW = ( w )ijdescribing which locations are neighbours in some precise sense.For example, w might be assigned 1 if i and j are contiguous areasijand 0 otherwise; or w might be a function of the distance betweeniji and j and/or the length of boundary shared by i and j.The Moran measure of autocorrelation isn n n n n 2n ( SUM SUM z w z ) / ( 2 (SUM SUM w ) SUM z )i=1 j=1 i ij j i=1 j=1 ij i=1 iand the Geary measure of autocorrelation isn n 2 n n n 2(n -1) ( SUM SUM w (z - z ) ) / ( 4 (SUM SUM w ) SUM z )i=1 j=1 ij i j i=1 j=1 ij i=1 iand these measures may used to test the null hypothesis of no spatialautocorrelation, using both a sampling distribution assuming that xis normally distributed and a sampling distribution assuming randomisation,that is, we treat the data as one of n! assignments of the n values tothe n locations.In a toy example, area 1 neighbours 2, 3 and 4 and has value 32 1 and 4 23 1 and 4 24 1, 2 and 3 1This would be matched by the data^_n^ (obs no) ^value^ (numeric variable) ^nabors^ (string variable)- ----------- ------------------------ ------------------------1 3 "2 3 4"2 2 "1 4"3 2 "1 4"4 1 "1 2 3"That is, ^nabors^ contains the observation numbers of the neighbours ofthe location in the current observation, separated by spaces. Therefore,the data must be in precisely this sort order when ^spautoc^ is called.Note various assumptions made here:1. The neighbourhood information can be fitted into at most a ^str80^variable.2. If i neighbours j, then j also neighbours i and both facts arespecified.By default this data structure implies that those locations listedhave weights in W that are 1, while all other pairs of locations are notneighbours and have weights in W that are 0.If the weights in W are not binary (1 or 0), use the ^weights^ option.The variable specified must be another string variable.^_n^ (obs no) ^nabors^ (string variable) ^weight^ (string variable)- ----------- ------------------------ ------------------------1 "2 3 4" ".1234 .5678 .9012"etc.that is, w = 0.1234, and so forth. w need not equal w .12 ij ji[snip]References- ----------Cliff, A.D. and Ord, J.K. 1973. Spatial autocorrelation. London: Pion.Cliff, A.D. and Ord, J.K. 1981. Spatial processes: models andapplications. London: Pion.Author- ------Nicholas J. Cox, University of Durham, U.K.n.j.cox@@durham.ac.uk- ------------------------- end spautoc.hlpNickn.j.cox@durham.ac.ukSource: statalist, Nick J. Cox (N.J.Cox@durham.ac.uk, as of 4/15/99)With thanks to: Nicholas J. Cox, University of Durham, U.K.(n.j.cox@durham.ac.uk)Contexts: statistics; econometrics; estimationSPE:Abbreviation for: Subgame perfect equilibriumContexts: game theory; modelsspecie:A commodity metal backing money; historically specie was gold orsilver.Contexts: money; historyspectral decomposition:The factorization of a positive definite matrix A into A=CLC' where L is adiagonal matrix of eigenvalues, and the C matrix has the eigenvectors. Thatdecomposition can be written as a sum of outer products:A = (sum from i=1 to i=N of) Licici'where ci is the ith column of C.Source: Greene, 1993, p 34Contexts: econometricsspectrum:Summarizes the periodicity properties of a time series or time series samplext. Often represented in a graph with frequency, or period, (oftendenoted little omega) on the horizontal axis, and Sx (omega), whichis defined below, on the vertical axis. Sx is zero for frequenciesthat are not found in the time series or sample, and is increasingly positivefor frequencies that are more important in the data.Sx(omega) = (2pi)-1(sum for j from -infinity to+infinity of) gje-ijomegawhere gj is the jthautocovariance, omega is in the range [-pi, pi], and i is the squareroot of -1.Example 1: If xt is white noise, the spectrum is flat. All cyclesare equally important. If they were not, the series would beforecastable.Example 2: If xt is an AR(1) process, with coefficient in (0, 1),the spectrum has a peak at frequency zero and declines monotonically withdistance from zero. This process does not have an observable cycle.Source: Wouter J. den Haan, April 1996, "The Comovements between real activityand prices at different business cycle frequencies", as presented atNorthwestern, April 21, 1997. Possibly a UCSD or NBER working paper.Supported by NSF grant SBR-9514813. Another good reference is Priestly,1994.Contexts: time series; econometricsspeculative demand:The speculative demand for money is inversely related to the interestrate.Source: BransonContexts: moneyspline function:The kind of estimate producted by a spline regressionin which theslope varies for different ranges of the regressors. The spline function iscontinuous but usually not differentiable.Source: Greene, 1993, p 237Contexts: econometricsspline regression:A regression which estimates different linear slopes for different ranges ofthe independent variables. The endpoints of the ranges are calledknots.Source: Greene, 1993, p 237Contexts: econometricsspline smoothing:A particular nonparametric estimator of a function. Given a data set{Xi, Yi} it estimates values of Y for X's other thanthose in the sample. The process is to construct a function that balances thetwin needs of (1) proximity to the actual sample points, (2) smoothness. So a'roughness penalty' is defined. See Hardle's equation 3.4.1 near p. 56 forthe 'cubic spline' which seems to be the most common.Source: Hardle, 1990Contexts: econometrics; nonparametrics; estimationSPO:stands for Strongly Pareto Optimal, which see.Contexts: general equilibrium; modelsSPSS:Stands for 'Statistical Product and Service Solutions', a corporation at www.spss.comContexts: dataSSEP:Social Science Electronic Publishing, Inc.Contexts: dataSSRN:Social Science Research NetworkTheir web siteContexts: datastabilization policy:"Macroeconomic stabilization policy consists of all the actions taken bygovernments to (1) keep inflation low and stable; and (2) keep the short-run(business cycle) fluctuations in output and employment small." Includesmonetary and fiscal policies, international and exchange rate policy, andinternational coordination. (p129 in Taylor (1996)).Source: Taylor, John B. 1996. "Stabilization Policy and Long-Term EconomicGrowth." In The Mosaic of Economic Growth, edited by Ralph Landau,Timothy Taylor, and Gavin Wright. Stanford University Press.Contexts: macrostable distributions:See Campbell, Lo, and MacKinlay pp 17-18. Ref to French probability theoriesLevy. The normal, Cauchy, and Bernoulli distrbutions are special cases.Except for the normal distrbituion, they have infinite variance.There has been some study of whether continuously compounded asset returnscould fit a stable distribution, given that their kurtosis is too high for anormal distribution.Source: Campbell, Lo, and MacKinlay 1996, pp 17-18Contexts: finance; statisticsstable steady state:in a dynamical system with deterministic generator function F() such thatNt+1=F(Nt), a steady state is stable if, loosely, allnearby trajectories go to it.Source: J. Montgomery, social networks paperContexts: macro; dynamical systems; modelsstaggered contracting:A model can be constructed in which some agents, usually firms, cannot changetheir prices at will. They make a contract at some price for a specifiedduration, then when that time is up can change the price. If the terms of thecontracts overlap, that is they do not all end at the same time, we say thecontracts are staggered.An important paper on this topic was Taylor (1980) which showed that staggeredcontracts can have an effect of persistence -- that is, that one-time shockscan have effects that are still evolving for several periods. This is aversion of a new Keynesian, sticky-price model.Contexts: modelsstandard normal:Refers to a normal distributionwith mean of zero and variance ofone.Contexts: statisticsStata:Statistical analysis software. Stata websiteContexts: data; estimationstate price:the price at time zero of a state-contingent claim that pays one unit ofconsumption in a certain future state.Source: Huang and Litzenberger, 1988, pp 123-4Contexts: finance; modelsstate price vector:the vector of state prices for all states.Contexts: macro; finance; modelsstate-space approach to linearization:Approximating decision rules by linearizing the Euler equations of themaximization problem around the stationary steady state and finding a uniquesolution to the resulting system of dynamic equationsSource: explained in King, Plosser, Rebelo (87); ref Merz 94, p 21footnoteContexts: macro; modelsstationarity:The attribute of being covariance stationary, with reference to astochastic process. Note that strict stationarityis not asuperset or subset, but a different thing.stationary:When used to describe a stochastic process, this is usually a synonymfor covariance stationary.Source: Enders, Walter. 1995. Applied Econometric Time Series. JohnWiley & Sons, Inc.Hamilton, J. Time Series Analysis.Contexts: stochastic processesstatistic:a function of one or more random variables that does not depend upon anyunknown parameter.(The distribution of the statistic may depend on one or more unknownparameters, but the statistic can be calculated without knowing them just fromthe realizations of the random variables, e.g. the data in a sample.)In general a statistic could be a vector of values, but often it is ascalar.Source: adapted from Hogg & Craig.Contexts: statistics; econometrics; estimationStatistica:Statistical software. Seehttp://www.statsoft.com.Contexts: data; estimationstatistical discrimination:A theory of why minority groups are paid less when hired. The theory isroughly that managers, who are of one type (say, white), are more culturallyattuned to the applicants of their own type than to applicants of another type(say, black), and therefore they have a better measure of the likelyproductivity of the applicants of their own type. (There is uncertainty inthe manager's predictions about blacks and probably of whites too, but moreuncertainty for blacks.) Because the managers are risk averse they bid morefor a white applicant of a given apparent productivity than for a black one,since their measure of the white's productivity is better. This theorypredicts that white managers would offer black applicants lower starting wagesthan whites of the same apparent ability, even if the manager is notprejudiced against the blacks.Contexts: laborstatistics:Relevant terms: acceptance region,adapted,almost surely,alternative hypothesis,ANOVA,AR,AR(1),ARCH,autoregressive process,b,bandwidth,Bayesian analysis,Bonferroni criterion,bootstrapping,Box-Cox transformation,Cauchy distribution,cdf,characteristic function,chi-square distribution,coefficient of variation,complete,consistent,correlation,Cramer-Rao lower bound,cross-validation,delta method,density function,diffuse prior,distribution function,efficiency,efficiency bound,efficient,EGARCH,essentially stationary,estimator,excess kurtosis,expected value,exponential distribution,exponential family,F distribution,fat-tailed,frequency function,gamma distribution,gamma function,GARCH,Gaussian,Gaussian white noise process,generalized Wiener process,GEV,Heaviside function,Hermite polynomials,heterogeneous process,Huber standard errors,Huber-White standard errors,iid,information number,Ito process,Jensen's inequality,Kolmogorov's Second Law of Large Numbers,kurtosis,LAN,leptokurtic,Lindeberg-Levy Central Limit Theorem,log-concave,log-convex,logistic distribution,lognormal distribution,MA,main effect,MANOVA,Markov process,Markov's inequality,martingale,martingale difference sequence,mesokurtic,MGF,moment-generating function,Monte Carlo simulations,multivariate,MVN,noncentral chi-squared distribution,normal distribution,Op(1),order statistic,Pareto distribution,pdf,platykurtic,Poisson distribution,Poisson process,power,power distribution,probability function,process,random,random process,random variable,random walk,Rao-Cramer inequality,Riemann-Stieltjes integral,second moment,semiparametric,significance,single-crossing property,skewness,spatial autocorrelation,stable distributions,standard normal,statistic,stochastic,stochastic process,strict stationarity,strictly stationary,strong law of large numbers,strongly consistent,Student t,sufficient statistic,support,t distribution,t statistic,tangent cone,Tukey boxplot,type I error,type I extreme value distribution,type II error,uniform distribution,uniform weak law of large numbers,unit root,unit root test,UWLLN,variance,wavelet,weak law of large numbers,weak stationarity,weakly consistent,weakly dependent,Weibull distribution,white noise process,White standard errors,WLLN,Wold's theorem.Contexts: fieldsstochastic:synonym for random.Contexts: statistics; econometrics; time seriesstochastic difference equation:A linear difference equation with random forcing variables on the right handside. Here is a stochastic difference equation in k:kt+1 + kt = wtwhere the k's and w's are scalars, and time t goes from 0 to infinity. Thew's were exogenous forcing variables. Or:Akt+1 + Bkt + Ckt-1 = Dwt +etwhere the k's are vectors, the w's and e's are exogenous vectors, and A, B, C,and D are constant matrices.Source: Sargent, 1979Contexts: macro; modelsstochastic dominance:An abbreviation for first-order stochastic dominance. A possiblecomparison relationship between two stochastic distributions. Let thepossible returns from assets A and B be described by statistical distributionsA and B. Payoff distribution A first-order stochastically dominates payoffdistribution B if for every possible payoff, the probability of getting apayoff that high is never better in B than in A.Much more is in Huang and Litzenberger (1988), chapter 2.Source: Huang and Litzenberger, (1988), p. 40stochastic kernel:Another name for stochastic transition function.stochastic process:A stochastic process is an ordered collection of random variables. The termis synonymous with random process. Discrete ones are indexed, often bythe subscript t for time, e.g., yt, yt+1, although sucha process could be spatial instead of temporal. Continuous ones can bedescribed as continuous functions of time, e.g. y(t).A stochastic process is specified by properties of the joint distribution forthose random variables. Examples:-- the random variables are independently and identically distributed(iid).-- the process is a Markov process-- the process is a martingale-- the process is white noise-- the process is autoregressive(e.g. AR(1))-- the process has a moving average (e.g. see MA(1))Contexts: models; statisticsstochastic transition function:A generalization of the Markov transition matrixwhich describes theprobability of a transition by a system from one set of states to another setof states. A matrix may not describe the situation if the subsets arecomplicated or infinite in number.Stolper-Samuelson theorem:In some models of international trade, trade lowers the real wage of thescarce factor of production, and protection from trade raises it.That is a Stolper-Samuelson effect, by analogy to their (1941) theorem in aHeckscher-Ohlinmodel context.A notable case is when trade between a modernized economy and a developing onewould lower the wages of the unskilled in the modernized economy because thedeveloping country has so many of the unskilled.Source: MIT Dictionary of Modern Economics, edited by David WPearce;Gordon H. Hanson and Matthew J. Slaughter, "The Rybczinski theorem,factor-price equalization, and immigration: evidence from U.S. states,"NBER working paper 7074, April 1999. On Web at http://www.nber.org/papers/w7074Stolper, Wolfgang, and Paul A. Samuelson. 1941. "Protection and realwages." Review of Economics and Statistics 9(1): 58-73.Contexts: trade; macrostopping rule:A stopping rule, in the context of search theory, is a mapping from historiesof draws to one of two decisions: stop at this draw, or continuedrawing.Source: Wolinsky's D14 notes, Jan 1997Contexts: information; searchstorable:A good is storable to the degree that it does not degrade or lose its valueover time. In models of money, storable goods dominate less storable goods asmedia of exchange.Contexts: moneystraddle:An options trading strategy of buying a call optionand a putoptionon the same stock with the same strike price and expiration date.Such a strategy would result in a profitable position if the stock price isfar enough from the strike price.Source: Hull, 1997, p 187Contexts: financestrategic form:Synonym for normal formdisplay of a game.Source: Varian, 1992Contexts: game theorystrategy-proof:A decision rule(a mapping from expressed preferences by each of agroup of agents to a common decision) "is strategy-proof if in itsassociated revelation game, it is a dominant strategyfor each agent toreveal its true preferences."Source: Miyagawa, 1998, p 2Contexts: game theorystrict stationarity:Describes a stochastic process whose joint distribution of observations is nota function of time. Contrast weak stationarity.Source: Hoel, Port, and Stone, 1972, p. 122.Contexts: statistics; econometrics; time seriesstrict version of Jensen's inequality:Quoting directly from Newey-McFadden: "[I]f a(y) is a stricly concavefunction [e.g. a(y)=ln(y)] and Y is a nonconstant random variable, thena(E[Y]) < E[a(Y)]."Source: Newey-McFadden, Ch 36, Handbook of Econometrics, p. 2124Contexts: modelsstrictly stationary:A random process{xt} is strictly stationary if the jointdistribution of elements is not a function of the index t. In one sense thisis a stronger condition than covariance stationaritybecause itrequires also that the third and higher moments of the distributions bestationary. But a process can be strictly stationary without being covariancestationary if it does not have a finite variance.Contexts: time series; econometrics; statisticsstrip financing:Corporate financing by selling "stapled" packages of securitiestogether that cannot be sold separately. E.g., if a firm might sell bondsonly in a package that includes a standard proportion of senior subordinateddebt, convertible debt, preferred, and common stock. A benefit is reducedconflict. In principle bondholders and stockholders have different interestsand that can impose costs on the firm. After a strip financing, however,those groups are each made up of all the same people, so their interestscoincide.Source: Jensen (86)Contexts: financestrips:securities made up of standardized proportions of other securities from thesame firm. See strip financing.U.S. Treasury bonds can be split into principal and interest components, andthe standard name for the resulting securities is STRIPS (Separate Trading ofRegistered Interest and Principal of Securities). See coupon stripandprincipal strip.Source: Jensen (86)Contexts: financestrong form:Can refer to the strong form of the efficient markets hypothesis, which isthat any public or private information known to anyone about a security isfully reflected in its current price.Fama (1991) renames tests of the strong form of the hypothesis to be 'testsfor private information.' Roughly -- If individuals with private informationcan make trading gains with it, the strong form hypothesis does nothold.Source: Fama, 1970.Dow and Gorton (1996) cite this paper. Possibly it defined the term for thfirst time:Roberts, Harry V. 1967. "Statistical versus clinical prediction of thestock market," working paper, University of Chicago.Contexts: financestrong incentive:An incentive that encourages maximization of an objective.For example, payment per unit of output produced encourages maximumproduction. Useful in design of a contract if the buyer knows exactly what isdesired. Contrast weak incentive.Source: Weisbrod's class 5/23/97Contexts: public economicsstrong law of large numbers:If {Zt} is a sequence of n iidrandom variables drawn from adistribution with mean MU, then with probability one, the limit of sampleaverages of the Z's goes to MU as sample size n goes to infinity.I believe that strong laws of large numbers are generally, or perhaps always,proved using some version of Chebyshev's inequality. (The proof is rarelyshown; in most contexts in economics one can simply assume laws of largenumbers).Contexts: statistics; econometrics; probabilitystrongly consistent:An estimator for a parameter is strongly consistent if the estimator goes tothe true value almost surely as the sample size n goes to infinity. This is astronger condition than weak consistency; that is, all strongly consistentestimators are weakly consistent but the reverse is not true.Contexts: econometrics; statisticsstrongly dependent:A time series process {xt} is strongly dependent if it is notweakly dependent; that is, if it is strongly autocorrelated, eitherpositively or negatively.Example 1: A random walk with correlation 1 between observations is stronglydependent.Example 2: An iid process is not strongly dependent.Source: Discussed in Wooldridge, 1995, p 2646 whichcites Robinson 1991b in J of econometrics.Contexts: time series; econometricsstrongly ergodic:A stochastic process may be strongly ergodic even if it is nonstationary. Astrongly ergodic process is also weakly ergodic.Contexts: time series; econometricsstrongly Pareto Optimal:A strongly Pareto optimal allocation is one such that no other allocationwould be both (a) as good for everyone and (b) strictly preferred bysome.Contexts: general equilibrium; modelsstrongly stationary:Synonym for strictly stationary, regarding a stochasticprocess.Source: Hoel, Port, and Stone, 1972Contexts: time seriesstructural break:A structural changedetected in a time series sample.Contexts: time series; econometricsstructural change:A change in the parameters of a structuregenerating a time series.There exist tests for whether the parameters changed. One is the Chowtest.Examples: (planned)Contexts: time series; econometricsstructural moving average model:The model is a multivariate, discrete time, dynamic econometric model. Letyt be an ny x 1 vector of observable economic variables,C(L) is a ny x ne matrix of lag polynomials, andet be a vector of exogenous unobservable shocks, e.g. to laborsupply, the quantity of money, and labor productivity. Then:yt=C(L)etis a structural moving average model.Source: M.W. Watson, Ch 57, Handbook of Econometrics, p 2899.Contexts: econometricsstructural parameters:Underlying parameters in a model or class of models.If a theoretical modelexplains two effects of variable x on variabley, one of which is positive and one negative, they are structurally separate.In another model, in which only the net effect of x on y is relevant, onestructural parameter for the effect may be sufficient.So a parameter is structural if a theoretical model has a distinct structurefor its effect. The definition is not absolute, but relative to a model orclass of models which are sometimes left implicit.Contexts: estimation; econometricsstructural unemployment:Unemployment that comes from there being an absence of demand for the workersthat are available. Contrast frictional unemployment.Source: Baumol & BlinderContexts: labor; macrostructure:A model with its parameters fixed. One can discuss properties of a model withvarious parameters, but 'structural' properties are those that are fixedunless parameters change.Source: Davidson and MacKinnon, 1993, I think, but can't findthe exact page.Contexts: econometricsStudent t:Synonym for the t distribution. The name came about because theoriginal researcher who described the t distribution wrote under the pseudonym'Student'.Contexts: statisticsstylized facts:Observations that have been made in so many contexts that they are widelyunderstood to be empirical truths, to which theories must fit. Usedespecially in macroeconomic theory. Considered unhelpful in economic historywhere context is central.Relevant terms: Engel's law.Contexts: fields; phrasessubdifferential:A class of slopes. By example -- consider the top half of a stop sign as afunction graphed on the xy-plane. It has well-defined derivatives except atthe corners. The subdifferential is made up of only one slope, thederivative, at those points. At the corners there are many 'tangents' whichdefine lines that are everywhere above the stop sign except at the corner.The slopes of those lines are members of the subdifferential at those points.In general equilibrium usage, the subdifferential can be a class of prices.It's the set of prices such that expanding the total endowment constraintwould not cause buying and selling, because the agents have optimizedperfectly with respect to the prices. So if a set of prices is possible for aWalrasian equilibrium, it is in the subdifferential of that alocation.Contexts: general equilibrium; modelssubgame perfect equilibrium:An equilibrium in which the strategies are a Nash equilibrium, and, withineach subgame, the parts of the strategies relevant to the subgame make a Nashequilibrium of the subgame.Contexts: game theory; modelssubmartingale:A kind of stochastic process; one in which the expected value ofnext period's value, as projected on the basis of the current period'sinformation, is greater than or equal to the current period's value.This kind of process could be assumed for securities prices.Source: Fama, 1970, p 386Contexts: finance; time seriessubordinated:Adjective. A particular debt issue is said to be subordinated if it wassenior but because of a subsequent issue of debt by the same firm is no longersenior. One says, 'subordinated debt'.Contexts: financesubstitution bias:A possible problem with a price index. Consumers can substitute goods inresponse to price changes. For example when the price of apples rises but theprice of oranges does not, consumers are likely to switch their consumption alittle bit away from apples and toward oranges, and thereby avoid experiencingthe entire price increase. A substitution bias exists if a price index doesnot take this change in purchasing choices into account, e.g. if thecollection ("basket") of goods whose prices are compared over time is fixed."For example, when used to measure consumption prices between 1987 and 1992, afixed basket of commodities consumed in 1987 gives too much weight to theprcies that rise rapidly over the timespan and too little weight to the pricesthat have fall; as a result, using the 1987 fixed basket overstates the1987-92 cost-of-living change. Conversely, because consumers substitute, afixed basket of commodities consumed in 1992 gives too much weight to theprices that have fallen over the timespan and to little to the prices thathave risen; as a result, the 1992 fixed based understates the 1987-92cost-of-living change." (Triplett, 1992)Source: Triplett, 1992, p. 50Contexts: macro; pricesSUDAAN:A statistical software program designed especially to analyze clustereddataand data from sample surveys. The SUDAAN Web site is at http://www.rti.org/patents/sudaan/sudaan.html.Contexts: data; estimation; codesufficient statistic:Suppose one has samples from a distribution, does not know exactly what thatdistribution is, but does know that it comes from a certainset of distributions that is determined partly or wholly by a certainparameter, q. A statistic is sufficient forinference about qif and only if the values of any sample from that distribution give nomore information about q than does the value of thestatistic onthat sample.E.g. if we know that a distribution is normal with variance 1 but hasan unknown mean, the sample average is a sufficient statistic for themean.Contexts: statisticssunk costs:Unrecoverable past expenditures. These should not normally be taken intoaccount when determining whether to continue a project or abandon it, becausethey cannot be recovered either way. It is a common instinct to count them,however.sup:Stands for 'supremum'. A value is a supremum with respect to a set if it isat least as large as any element of that set. A supremum exists in contextwhere a maximum does not, because (say) the set is open; e.g. the set (0,1)has no maximum but 1 is a supremum.sup is a mathematical operator that maps from a set to a value that issyntactically like an element of that set, although it may not actually be amember of the set.Contexts: real analysissuperlative index numbers:"What Diewert called 'superlative' index numbers were those that provide agood approximation to a theoretical cost-of-living index for large classes ofconsumer demand and utility function specifications. In addition to theTornqvist index, Diewert classified Irving Fisher's 'Ideal' index as belong tothis class." -- Gordon, 1990, p. 5from harper (1999, p. 335): The term "superlative index number" was coinedby W. Erwin Diewert (1976) to describe index number formulas which generateaggregates consistent with flexible specifications of the productionfunction."Two examples of superlative index number formulas are the Fisher IdealIndexand the Tornqvist index. These indexes "accomodatesubsitution in consumer spending while holding living standards constant,something the Paasche and Laspeyres indexes do not do." (Triplett, 1992, p.50).Source: Diewert, 1976;Gordon, 1990, p. 5;Triplett, 1992, p. 50Contexts: index numberssuperneutrality:Money in a model 'is said to be superneutral if changes in [nominal] moneygrowth have no effect on the real equilibrium.' Contrast neutrality.Source: Blanchard & Fischer, p. 207Contexts: money; macro; modelssupply curve:For a given good, the supply curve is a relation between each possible priceof the good and the quantity that would be supplied for market sale at thatprice.Drawn in introductory classes with this arrangement of the axes, althoughprice is thought of as the independent variable:Price | / Supply| /| /| /|________________________QuantityContexts: microsupport:of a distribution. Informally, the domain of the probability function;includes the set of outcomes that have positive probability.A little more exactly: a set of values that a random variable may take, suchthat the probability is one that it will take one of those values. Note thata support is not unique, because it could include outcomes with zeroprobability.Source: Farmer, p. 235Contexts: probability; statisticsSUR:Stands for Seemingly Unrelated Regressions. The situation is one where theerrors across observations are thought to be correlated, and one would like touse this information to improve estimates. One makes an SUR estimate bycalculating the covariance matrix, then running GLS.The term comes from Arnold Zellner and may have been used first in Zellner(1962).Source: StataCorp. 1999. Stata statistical software release 6.0manual, vol 4., pages 8 and 14.Zellner, A. 1962. "An efficient method of estimating seeming unrelatedregressions and tests for aggregation bias." Journal of the AmericanStatistical Association 57: 348-368.Zellner, A. 1963. "Estimators for seemingly unrelated regressionequations: Some exact finite sample results." Journal of the AmericanStatistical Association 58: 977-992.Zellner, A., and D.S. Huang. 1962. "Further properties of efficientestimators for seemingly unrelated regression equations."International Economic Review 3: 300-313.Contexts: econometrics; estimationSURE:same as SURestimation.Contexts: econometrics; estimationSurvey of Consumer Finances:There is a U.S. survey and a Canadian survey by this name.The U.S. one is a survey of U.S. households by the Federal Reserve whichcollects information on their assets and debt. The survey oversamples highincome households because that's where the wealth is. The survey has beenconducted every three years since 1983.The Canadian one is an annual supplement to the Labor Force Survey thatis carried out every April.Source: For the Canadian definition, see page 297 of:Kevin M. Murphy, W. Craig Riddell, and Paul M. Romer. 1998. "Wages,skills, and technology in the United States and Canada", Chapter 11 ofGeneral purpose technologies and economic growth, edited by ElhananHelpman. MIT Press.Contexts: public finance; laborsurvival function:From a model of durations between events (which are indexed here by i).Probability that an event has not happened since event (i-1), as a function oftime.E.g. denote that probability by Si():Si(t | ti-1, ti-2, ...)Contexts: econometrics; estimationSVAR:Structured VAR (Vector Autoregression).The SVAR representation of a SMA model comes from inverting the matrix of lagpolynomials C(L) (see the SMA definition) to get:A(L)yt=etThe SVAR is useful for (1) estimating A(L), (2) reconstructing the shockset if A(L) is known.Source: M.W. Watson, Ch 47, Handbook of Econometrics, p 2901.Contexts: econometrics; time seriessymmetric:A matrix M is symmetric if for every row i and column j, element M[i,j] =M[j,i].Contexts: econometrics; linear algebrat distribution:Defined in terms of a normal variable and a chi-squared variable. Letz~N(0,1) and v~X2(n). (That is, v is drawn froma chi-squared distribution with n degrees of freedom.)Then t = z(n/v)1/2 has a t distribution with ndegrees of freedom. The t distribution is a one-parameter family ofdistributions. n is that parameter here. The t distribution is symmetricaround zero and asymptotically (as n goes to infinity) approaches the standardnormal distribution.Mean is zero, and variance is n/(n-2).Source: Johnston, p. 530Contexts: econometrics; statistics; estimationt statistic:After an estimation of a coefficient, the t-statistic for that coefficient isthe ratio of the coefficient to its standard error. That can be testedagainst a t distribution (which see) to determine how probable it is that thetrue value of the coefficient is really zero.Contexts: econometrics; statistics; estimationtangent cone:Informally: a set of vectors that is tangent to a specified point.Source: Tripathi, 1996, p 8 and onContexts: mathematics, statisticsteam production:Defined by Alchian and Demsetz (1972) this way: "Team pproductiveactivity is that in which a union, or joint use, of inputs yields a largeroutput than the sum of the products of the separately used inputs." (p.794)Source: Alchian and Demsetz, 1972, p 794Contexts: theory of the firm; IO; corporate financetechnical change:A change in the amount of output produced from the same inputs. Such a changeis not necessarily technological; it might be organizational, or the result ofa change in a constraint such as regulation, prices, or quantities ofinputs.According to Jorgenson and Stiroh (May 1999 American Economic Review p110), sometimes total factor productivity (TFP) can be a synonym for technicalchange. A possible measure is output per unit of factor input.Jorgenson and Stiroh also have an explanation of how it is definitionallypossible for how a technological revolution not to lead to technical change asmeasured in these ways.Contexts: macrotechnological change:A change in the set of feasible production possibilities.Contrast technical change.technology shocks:An event, in a macro model, that changes the production function. Commonlythis is modeled with a aggregate production function that has a scalingfactor, e.g.:F(Kt,Nt) = AtKaN(1-a)where At a time series of technology shocks whose values can beestimated or whose stochastic process (joint distribution) might beconjectured to have certain properties.By this definition the oil shocks of the 1970s were technology shocks -- thatis, for any given aggregate capital stock or labor stock, production was moreexpensive after an oil shock because energy would be more expensive. Thisinterpretation explains why real business cycle theorydrew interest ineconomics in the 1970s after the oil shocks had such a dramatic impact onWestern economies.Contexts: macro; modelstenure:In the context of studies of employees, length of time with current employerin current job. Contrast experience.Contexts: labor; corporate financeterm spreads:"long-term minus short-term interest rates"Source: Fama 1991 p 1609Contexts: financeterms of trade:An index of the price of a country's exports in terms of its imports. Theterms of trade are said to improve if that index rises. (Obstfeld andRogoff, p 25)An analogous use is when comparing relative prices. If the cost ofagricultural goods in terms of industrial goods goes up, one might say the"terms of trade ... shifted in favor of agricultural products." (North andThomas, p 108).Source: Obstfeld and Rogoff, 1996, p 25North, Douglass C. and Robert Paul Thomas. 1973/1992. The Rise of theWestern World: A New Economic History. Cambridge University Press.Contexts: trade; internationaltertiary sector:Literally, 'third sector'. Per Landes, 1969/1993, p 9,refers to the "administrative and service sector of the economy".In context of Williamson and Lindert, 1980, p 172, is definedmore specifically to be the sector of production outside of agriculture andindustry, and includes construction, trade, finance, real estate, privateservices, government, and sometimes transportation.Source: Landes, 1969/1993, p 9; Williamson andLindert, 1980, p 172Contexts: macrotest for structural change:An econometric test to determine whether the coefficients in a regressionmodel are the same in separate subsamples. Often the subsamples come fromdifferent time periods. See Chow test.Source: Davidson and MacKinnon, 1993, p 375Contexts: estimation; econometricstest of identifying restrictions:synonym for Hausman test, in practice. Only overidentifyingrestrictions (assumptions) can be tested.Contexts: econometrics; estimationtest statistic:"A random variable [T, in this example] of which the probabilitydistribution is known, either exactly or approximately, under the nullhypothesis. We then see how likely the observed value of T is to haveoccurred, according to that probability distribution. If T is a number thatcould easily have occurred by chance [under the tested hypothesis], then wehave no evidence against the null hypothesis H0. However if it isa number that would occur by chance only rarely, we do have evidence againstthe null, and may well decide to reject it."Source: Davidson and MacKinnon, 1993, p 78-79Contexts: econometrics; estimationTFP:Abbreviation for Total Factor Productivity.Contexts: macrothe standard model:Has a variety of meanings, and can be a confusing phrase to outsiders to adiscussion. Often implicitly contrasts the model at hand to a simpler,earlier one in the same literature, sometimes with the implication thatvariations from the earlier one ought, in the speaker's opinion, to bejustified explicitly.A standard model of a firm is one in which it is strictly and always profitmaximizing. Often 'profit' is interpreted in a short term way, but dependingon context it may refer to a long run present-discounted value kind of profit.A standard model of individuals seeking jobs is that they are strictlyconsumption maximizing, and therefore wage maximizing. Occasionally a longrun present discounted value of wages is the objective. If time away fromwork is relevant, the consumer maximizes some combination of consumption/ wageand time away from work, or 'leisure'.A standard model of international trade is one in which countries specializetoward their comparative advantages.A standard model of a product market is one in which (1) all producers (calledfirms) and consumers (thought of as individuals) are price takersandvariations in any one actor's production or consumption have no effect on theprice; (2) the demand curve is strictly increasing (that is the price andquantity are positively correlated); (3) the supply curve is strictlydecreasing (that is, price and quantity are negatively correlated); (4) thegood is infinitely divisible.Contexts: phrasestheory of the firm:Subject is: What are the nature, extent, and purposes of firms? Thisorganization of the answers comes from Hart's book.Categories of answers:Neoclassical theories of the firm identify it with its production technology,and usually define the driving objective of the firm as maximizing its profitsgiven its technology.Principal-agent theories of firms -- that firms are organized to divide workamong many people in ways that minimize principal agent problems.Transaction cost theories -- that comprehensive contracts with workers areunrealistic and that the structure of a firm (e.g., a hierarchical one) isuseful for efficiently doing a job. First academic paper of this kind wasCoase, 1937.Property rights theories -- that ownership is a source of power ...---------theory of the firm: firm organization substitutes forcontracts, firms reduce uncertainty and opportunisticbehavior, and set incentives to elicit efficient responsesfrom agents.-- Mokyr's rise and fall paperSource: Hart, 1995; Coase, 1937Contexts: IOtheta:As used with respect to options: The rate of change of the value of aportfolio of derivatives with respect to time with all else held constant.Formally this is a partial derivative.Source: Hull, 1997, p 321Contexts: financetightness:An attribute of a market.In securities markets, tightness is "the cost of turning around aposition over a short period of time." (Kyle, 1985, p 1316). [Does'cost' mean trading costs, alone? So does 'turning around' just mean'trading'?]A labor market is said to be tight if employers have trouble filling jobs, orif there is a long wait to fill an available job. It is not evidence that thelabor market is tight if potential employees have trouble finding jobs or mustwait to get one.Source: Kyle, 1985, p 1316Contexts: finance; labortime consistency:Opposite of time inconsistency or dynamic inconsistency.Contexts: macrotime deposits:The money stored in the form of savings accounts at banks.Contexts: macro; moneytime inconsistency:Same as dynamic inconsistency.Contexts: dynamic optimizationtime preference:A utility functionmay or may not have the property of time preference.Time preference is an intense preference to receive goods or servicesimmediately.The discount factor preference to avoid delay must be more thanmultiplictavely linear in the delay time passed, or one would not use thisterm to describe the utility function. In theory this attribute isanalytically distinct from other reasons to want something sooner, such asinterest rates; the bounded rationalityproblem of remembering how andwhen to consume the good later; or discounting of future events for reasons ofopportunity, risk, or uncertainty (e.g., the chance of surviving to a latertime).There is evidence that human behavior exhibits great impatience which might bemodeled well by time preference and perhaps can perhaps be distinguished fromthese other factors. So one may read references to empiricalobservations of time preference, though as far as this editor can tell theconcept is quite theoretical and some jump is required to leave all otherexplanations aside and link it directly to an observation.Contexts: micro theory; utilitytime series:A stochastic process where the time index takes on a finite or countablyinfinite set of values. Denoted, e.g. {Xt | for all integers t}.Relevant terms: Relevant terms: AIC,Akaike's Information Criterion,AR,ARCH,ARIMA,ARMA,augmented Dickey-Fuller test,autocorrelation,autocovariance,autocovariance matrix,autoregressive process,Box-Jenkins,Box-Pierce statistic,BVAR,Cochrane-Orcutt estimation,cointegration,convolution,covariance stationary,Dickey-Fuller test,Donsker's theorem,Durbin's h test,Durbin-Watson statistic,ergodic,error-correction model,essentially stationary,FCLT,filter,Gaussian white noise process,generalized Wiener process,Granger causality,heterogeneous process,I(0),I(1),integrated,invertibility,Ito process,lag operator,Lindeberg-Levy Central Limit Theorem,Ljung-Box test,MA,Markov chain,Markov property,mixing,nonergodic,own,Ox,Phillips-Perron test,portmanteau test,Prais-Winsten transformation,Q-statistic,QLR,random,random process,random walk,Riemann-Stieltjes integral,Schwarz Criterion,spectrum,stochastic,strict stationarity,strictly stationary,strongly dependent,strongly ergodic,strongly stationary,structural break,structural change,submartingale,SVAR,trend stationary,uniform weak law of large numbers,unit root,unit root test,UVAR,UWLLN,VAR,variance decomposition,variance ratio statistic,VARs,volatility clustering,Wallis statistic,weak law of large numbers,weak stationarity,weakly dependent,weakly ergodic,WLLN,Wold decomposition,Wold's theorem.See Editor's comment on time series.Contexts: fieldstime-varying covariates:Means the same thing as time-dependent covariates; that the covariates(regressors, probably) change over time.Source: statalist, general discussionContexts: econometrics; estimationtit-for-tat:A strategy in a repeated game (or a series of similar games). When aPrisoner's dilemmagame is repeated between the same players, thetit-for-tat strategy is to choose the 'cooperate' action unless in theprevious round, one's opponent chose to defect, in which case one responds bychoosing to defect this round. This tends to induce cooperative behavioragainst an attentive opponent.Contexts: game theoryTobin tax:A tax on foreign currency exchanges.Contexts: public financeTobin's marginal q:The ratio of the change in the value of the firm to the added capital cost fora small increment to the capital stock. If the firm is in equilibrium, it'smarginal q is one; all investments that add more to the value of the firm thantheir cost have already been undertaken, and if we knew the replacement costof capital we could look up the stock market value of a firm and calculate itsaverage q directly.Source: Branson, Ch 13Contexts: macroTobin's q:This description comes from Dow and Gorton, (1996): The ratio of the currentmarket value of a firm's assets to their cost. If q is greater than 1, thefirm should increase its capital stock. It follows that, according to"Fischer and Merton (1984), 'the stock market should be a predictor ofthe rate of corporate investment' (p 84-85)" -- that is,"risingstock prices cause higher investment [by firms]. The empirical evidence isconsistent with this view: investment in plant and eqipment increasesfollowing a rise in stock prices in all countries that have been studied. Infact, lagged stock returns outperform q in predicting investment [at both] themacroeconomic level and in cross-sections of firms. See Barro (1990),Bosworth (1975), and Welch (1994)."Source: Quoted from:James Dow and Gary Gorton. 1996. "Stock market efficiency and economicefficiency: is there a connection?" European University Institute,London Business School, the Wharton Schoo, and NBER. Working paper.Barro, Robert J. 1990. "The stock market and investment,"Review of Financial Studies 3: 115-131.Bosworth, Barry. 1975. "The stock market and the economy,"Brookings Papers on Economic Activity 2: 257-300.Fischer, Stanley, and Robert C. Merton. 1984. "Macroeconomics andfinance: the role of the stock market," Carnegie-Rochester ConferenceSeries on Public Policy 21: 57-108.Tobin, James. 1969. "A general equilibrium approach to monetarytheory" Journal of Money, Credit, and Banking 1: 15-29.Welch, Ivo. 1994. "The cross-sectional determinants of corporatecapital expenditures: a multinational comparison." UCLA workingpaper.tobit model:An econometric model in which the dependent variable is censored; in theoriginal model of Tobin (1958), for example, the dependent variable wasexpenditures on durables, and the censoring occurs because values below zeroare not observed.The model is:yi*=bxi+ui whereui~N(0,s2)But yi* (e.g., durable goods desired by the consumerdescribed by variables xi) is not observed.yi=yi* ifyi*<y0, and yi=y0otherwiseyi is observed.y0 is known. s2 is often treated as known.xi's are observed for all i.Contexts: econometrics; estimationtop-coded:For data recorded in groups, e.g. 0-20, 21-50, 50-100, 101-and-up, we do notknow the average or distribution of the top category, just its lower bound andquantity. That data is "top-coded." We may adjust for it by scaling up thetop-code and calling that the average.Contexts: datatopological space:A pair of sets (X, t) such that t is a topologyin X.See topology.Source: Kolmogorov and Fomin, p 78Contexts: real analysistopology:Is defined with respect to a set X. A 'topology in X' is a set of subsets ofX satisfying several criteria. Let t denote atopology in X. The sets in t are by definition'open sets' with respect to t, and sets outside oft are not. t satisfiesthe following:(1) X and the null set are in t.(2) Finite or infinite unions of open sets (that is, elements of t) are also in t.(3) Finite intersections of open sets are in t.Comments and related definitions:More than one topology in X may be possible for a given set X.The complement of a set in t is said to be a'closed set'.Element of X may be called 'points'.A 'neighborhood' of a point x is any open set containing x.Let M be a subset of X. A point x in X is a 'contact point' of M if everyneighborhood of x contains at least one point of M; and x would be a 'limitpoint' of M if every neighborhood of x contained infinitely many points of M.The set of all contact points of M is the 'closure' of M.A 'topological space' is a pair of sets (X, t)satisfying the above.All metric spaces are topological spaces. The sets one would call open in ametric space satisfy the criteria above; one could also label all subsets of Xas open for purpose of listing the members of the topology and they would thensatisfy the definition above.Given two topologies t1 and t2 on the same set X, we say that 't1 is stronger than t2', orequivalently that 't2 is weaker than t1' if every set in t2 is int1. A stronger topology thus has at least as manyelements as a weaker one.Source: Kolmogorov and Fomin, p 78Contexts: real analysisTornqvist index:A kind of index number which can accumulate various kinds of capital in to asingle number. Averages between periods fill in the quantities of capital andlabor.Defined in Hulten to be a discrete-time approximation to a DivisiaindexCan handle a production function as complicated as a translog, not justa Cobb-Douglas. It can handle a Cobb-Douglas production function inwhich the shares change over time.The Tornqvist index is a superlativeindex formula. It was developedin the 1930s at the Bank of Finland, according to Triplett (1992).Defined at length in Dean & Harper, 1998, pages 8-9.Source: paraphrased from Dean & Harper, Feb. 1998;Hulten, 2000;Triplett, 1992Contexts: government; measurementtotal factor productivity:Given the macro model: Yt =ZtF(Kt,Lt), Total Factor Productivity (TFP)is defined to be Yt/F(Kt,Lt)Likewise, given Yt =ZtF(Kt,Lt,Et,Mt), TFPis Yt/F(Kt,Lt,Et,Mt)The Solow residual is a measure of TFP. TFP presumably changes over time.There is disagreement in the literature over the question of whether the Solowresidual measures technology shocks. Efforts to change the inputs, likeKt, to adjust for utilization rate and so forth, have the effect ofchanging the Solow residual and thus the measure of TFP. But the idea of TFPis well defined for each model of this kind.TFP is not necessarily a measure of technology since the TFP could be afunction of other things like military spending, or monetary shocks, or thepolitical party in power."Growth in total-factor productivty (TFP) represents output growth notaccounted for by the growth in inputs." -- Hornstein and Krusell (1996).Disease, crime, and computer viruses have small negative effects on TFP usingalmost any measure of K and L, although with absolutely perfects measures of Kand L they might disappear.Reason: crime, disease, and computer viruses make people AT WORK lessproductive.Source: Conversation with Martin Eichenbaum, 8/19/96Robert E Hall. "The Relation between Price and Marginal Cost in U.S.Industry", Journal of Political Economy, April 1996.Hornstein, Andreas, and Per Krusell. 1996. "Can technology improvementscause productivity slowdowns?" NBER Macroeconomics Annual 1996.MIT Press. p 214.Contexts: macro; modelstotally mixed strategy:In a noncooperative game, a totally mixed strategy of a player is a mixedstrategygiving positive probability weight to every pure strategyavailable to the player.For a more formal definition see Pearce, 1984, p 1037.This is a rough paraphrase.Source: Pearce, 1984, p 1037Contexts: game theoryTownsend inefficiency:a possible property of monetary exchange. One of the parties is evaluatingthe value of the money he gets in the transaction not the utility he generatedin production.Contexts: money; modelstrace:The trace of a square matrix A is the sum of the elements on its diagonal.Has the property that tr(AB)=tr(BA).Source: Greene, 1993, p 33Contexts: econometrics; linear algebratract:A geographical unit of the U.S. defined by the U.S. Census Bureau, usuallyhaving between a population between 2500 and 8000. Zip codes are about fivetimes larger. Census-defined "blocks" are a smaller unit than tracts.Source: Working paper by Joel Elvery; it cites on these questions thisbook:U.S. Dept of Commerce, Bureau of the Census. Geographic Areas ReferenceManual. 1994. Washington, DC.Tragedy of the commons:A metaphor for the public goods problem that it is hard to coordinate and payfor public goods. The term comes from Hardin (1968). The commons is apasture held by a group. Each individual owns sheep and has the incentive toput more and more sheep on the pasture to gain, privately. The overall effectof many individuals do this overwhelms the carrying capacity of the pastureand the sheep cannot all survive.Source: Hardin, 1968Contexts: publictrajectory:series of states in a dynamical system {N0, N1,N2, ...}.For a deterministic generator function F() such that Nt+1 =F(Nt), then N1=F(N0),N2=F(F(N0)), etc.Source: J. Montgomery, social networks paperContexts: macro; modelstransactions costs:Made up of three types per North and Thomas (1973) p 93:-- search costs (the costs of locating information about opportunities forexchange)-- negotiation costs (costs of negotiating the terms of the exchange)-- enforcement costs (costs of enforcing the contract)Source: North, Douglass C., and Robert Paul Thomas. 1973/1992. The Riseof the Western World: A New Economic History. Cambridge UniversityPress.transactions demand:The transactions demand for money is positively related to income andnegatively related to the interest rate.Source: BransonContexts: moneytransient:In the context of stochastic processes, "A state is called transient ifthere is a positive probability of leaving and never returning." --Stokey and Lucas, p 322Source: Stokey and Lucas, 1989, p 322Contexts: macro; stochastic processestransition economics:Since about 1992 this term has come to mean the subject of the transition ofpost-Soviet economies toward a Western free market model.It almost never refers either to other kinds of transitions economies mightundergo, nor to the subject labeled development economics.Contexts: phrases; fieldstranslog:The translog production function is a generalization of theCobb-Douglasproduction function. The name stands for'transcendental logarithmic'.See Greene, 2nd edition, p 209-210. Cited to Berndt and Christensen (1972);elsewhere, said to have been introduced by Christensen, Jorgenson, andLau, 1971, p 255-6. Applied to a case like Y=f(K,L), where f()is replaced by the translog. Its use always seems to be in estimation not intheory. Avoids strong assumptions about the functional form of the productionfunction; can approximate any other production function to second degree. Theregression run is, e.g. (from Greene p 209):ln Y = b1 + b2 (ln L) + b3 (ln K) + b4 (ln L)2/2+ b5 (ln K)2/2 + b6 (ln L)(ln K) + eThe Cobb-Douglas estimation is like this but with the restriction thatb4=b5=b6=0.Greene, p 210 says that the elasticity of output with respect to capital is inthis model:(d ln Y)/(d ln K) = b3 + b5 (ln K) + b6 (ln L)--------------------From Lau (1996) in _Mosaic_:Flexible functional forms such as the translog production function allow "theproduction [function?] elasticies to change with differing relative factorproportions." (p76)Source: Christensen, L.R., D.W. Jorgenson, and L.J. Lau. 1973."Transcendental Logarithmic Production Frontiers." Review of Economics andStatistics. 55: pp 28-45.Greene, 1993Contexts: econometricstranspose:A matrix operation. The transpose of an M x N matrix A is an N x M matrix,denoted A' or AT, in which the top row of A has been made into thefirst column of A', the second row of A has been made into the second columnof A', and so forth.Contexts: econometrics; linear algebratransversality condition:Limits solutions to an infinite period dynamic optimization problem.Intuitively, it rules out those that involve accumulating, for example,infinite debt.The transversality condition (TC) can be obtained by considering a finite,T-period horizon version of the problem of maximizing present value, obtainingthe first-order condition for nt+T, and then taking the limit ofthis condition as T goes to infinity.The form is often:(TC) lim bT.... = 0Contexts: macro; modelstreatment effects:In the language of experiments, a treatment is something done to a person thatmight have an effect. In the absence of experiments, discerning the effect ofa treatment like a college education or a job training program can be cloudedby the fact that the person made the choice to be treated. The outcomes are acombined result of the person's propensity to choose the treatment, and theeffects of the treatment itself. Measuring the treatment's effect whilescreening out the effects of the person's propensity to choose it is theclassic treatment effects problem.A standard way to do this is to regress the outcome on other predictors thatdo not vary with time, as well as whether the person took the treatment ornot. An example is a regression of wages not only on years-of-education butalso on test scores meant to measure abilities or motivation. Bothyears-of-education and test scores are positively correlated with subsequentwages, and when interpreting the findings the coefficient found on years ofeducation has been partly cleansed of the factors predicting which peoplewould have chosen to have more education.A more advanced method is the Heckman two-step.Source: Greene, 1997, p 981-2Contexts: econometrics; labortrembling hand perfect equilibrium:Defined by Selten (1975). Now perfect equilibriumis considered asynonym.Source: Selten, 1975, as cited by Pearce,1984, p 1037Contexts: game theorytrend stationary:A time series process is trend stationary if after trends were removed itwould be stationary.Following Phillips and Xiao (1998): iff a time series process ytcan be decomposed into the sum of other time series as below, it is trendstationary:yt = gxt + stwhere g is a k-vector of constants, xt is a vector of deterministictrends, and st is a stationary time series.Phillips and Xiao (1998), p. 2, say that xt may be "morecomplex than a simple time polynomial. For example, time polynomials withsinusoidal factors and piecewise time polynomials may be used. The lattercorresponds to a class of models with structural breaks in the deterministictrend."Whether all researchers would include statistical models with structuralbreaks in the class of those that are trend stationary, as Phillips and Xiaodo, is not known to this writer.Note that this definition is designed to discuss the question of whether astatistical model is trend stationary. To decide if one should think of aparticular time series sample as trend stationary requires imposing astatistical model first.Source: Phillips, Peter C.B. and Zhijie Xiao, "A primer on unit roottesting" Journal of Economic Surveys Vol 12, No. 5, 1998.and/or: Cowles Foundation paper No. 972, Yale University, 1999Contexts: time seriestriangular kernel:The triangular kernel is this function: (1-|u|) for -1>u>1 and zero foru outside that range. Here u=(x-xi)/h, where h is the window widthand xi are the values of the independent variable in the data, andx is the value of the independent variable for which one seeks anestimate.For kernel estimation.Source: Hardle, 1990Contexts: econometrics; nonparametrics; estimationTRIPs:A recent international treaty on intellectual property.Contexts: intellectual property; organizationstruncated dependent variable:A dependent variable in a model is truncated if observations cannot be seenwhen it takes on vales in some range. That is, both the independent and thedependent variables are not observed when the dependent variable is in thatrange.A natural example is that if we have data on consumption purchases, if aconsumer's willingness-to-pay for a certain product is negative, we will neversee evidence of it no matter how low the price goes. Price observations aretruncated at zero, along with identifying characteristics of the consumer inthis kind of data.Contrast censored dependent variables.Contexts: econometrics; estimationTSP:Time series econometrics softwareContexts: estimationTukey boxplot:A way of showing a distribution on a line, so that distributions can becompared easily in a single diagram. Used more in statistics than ineconometrics. A thin box marks out the 25th to 75th percentiles; a dashwithin that box marks the median; a line marks the outer part of thedistribution, and outside dots or stars mark outliers. (The exact range ofthe line is also derived from the location of the quartiles; its exactdefinition I do not understand from Quah, 1997; maybe is clear in Cleveland1993.)A rough example; consider two continuous distributions that ranges from 0 to4:0 1 2 3 4|--[==+===]---| * *The first distribution has a median around 1.3, and the main part of it rangesfrom .3 to 3.0. There are some outliers at the top. The second distributionhas a median near 2.0, and is more narrowly concentrated than the first, withfew outliers.Source: Quah, 1997; Cleveland,1993Contexts: statistics; econometricstutorial: Matlab:From a Unix shell one can just type 'matlab' as a command on any computer thathas it, and start to type interactive statements such as those below. Onecould also put them in a file with the .m extension to run them from withinmatlab with 'run file.m' or from the shell with 'matlab% The percent sign begins comments.% The statements below can be typed interactively one per line to get% clear responses from Matlab. No need to type the comment part at the% end of the lines. Make sure to use upper and lower case in the% same was as in the statements shown.A=[1 2;3 4] % defines matrix A as a 2x2 with first line [1 2]B=A' % transposeB=A+A % sum, element by elementAinv=inv(A) % takes inverse of a matrixA*Ainv % calculates and prints the result of a matrix multiplicationB=[A;A] % stacked so B has twice as many rows as AB=[A A] % the A's are side by side. B has twice as many columns as A.B=A(1,1) % B is a scalar now, the upper left element of AB=A'*A % matrix multiplicationB=A(:,1) % B is set to first row of AB=A.*A % element by element multiplicationB=B./A % element by element divisionA=zeros(3,3) % special definition of a matrix of zerosB=ones(3,1) % defines a matrix of onesA=eye(5) % defines identity matrixB=A(1:2,1:3) % takes part of matrixmore on % may not be needed; prevents help screen from scrolling offhelp * % shows sample of the help availableSource: Chris Taber, Econ D83 at Northwestern 1996-7, Matlab tutorialhandoutContexts: datatwo stage least squares:An instrumental variables estimation technique. Extends the IV idea to asituation where one has more instruments than independent variables in themodel. Suppose one has a model:y = Xb + eHere y is a T x 1 vector of dependent variables, X is a T x k matrix ofindependent variables, b is a k x 1 vector of parameters to estimate, and e isa k x 1 vector of errors.But the matrix of independent variables X may be correlated to the e's. Thenusing a matrix of independent variables Z, uncorrelated to the e's, that is Tx r, where r<k:Stage 1: By OLS, regress the X's on the Z's to get Xhat =(Z'X)-1Z'yStage 2: By OLS, regress y on the Xhat's. This gives an unbiased estimate ofb.The stages can be combined into one for maximum speed:b = (X'PzX)-1X'Pzywhere Pz, the projection matrix of Z, is defined to be:Pz = Z(Z'Z)-1Z'Contexts: econometrics; estimationtwo-factor model:suggests a production model with two factors of production, labor L andcapital K.tying:Tying is the vendor practice of requiring customers of one product to buyothers.Tying can be said to impede trade in that the customer's choices arerestricted. If the customer were free to buy the product without furtherconditions, the customer would apparently be better off than if the producthas strings attached. Tying could, however, be efficiency-enhancing by (1)reducing the number of market transactions (an efficiency of scale), or by (2)enabling a work-around of a regulation, such as offering a bargain inconjunction with a price-controlled product.A historical example: years ago lessees of IBM mainframes had to agree to buypunch cards only from IBM. Those punch cards were sold at a higher price thanon the open market. So the customer would have been better off with the samecontract minus this clause. But one could argue that tying the products thisway improved competition. It could be that IBM was trying to charge heavyusers of the computer more than light users by putting a surcharge on thepunch cards. If so, IBM found a way to bill customers for one of its costs,computer maintenance. The practice would theoretically encourage customers tooptimize their use of the computer rather than use it excessively. In thiscase the practice might be pro-competitive.Contexts: IOtype I error:That is, 'type one error.' This is the error in testing a hypothesis ofrejecting a hypothesis when it is true.Source: Davidson and MacKinnon, 1993, p 78-79Contexts: econometrics; estimation; statisticstype I extreme value distribution:Has the cdf F(x)=exp(-exp(-x)).(Devine and Kiefer write F(x)=exp(-exp(-x)); the difference may be in therange of x? must write this out)Source: Amemiya, Takeshi. "Discrete Choice Models," The New Palgrave:EconometricsContexts: econometrics; statisticstype II error:That is, 'type two error.' This is the error in testing a hypothesis offailing to reject a hypothesis when it is false.Source: Davidson and MacKinnon, 1993, p 78-79Contexts: econometrics; estimation; statisticsultimatum game:An experiment. There are two players, an allocator A and a recipient R, whoin the experiment do not know one another. They have received a windfall,e.g., of $1. The allocator, moving first, proposes to split the windfall byproposing to take share x, so that A receives x and R receives 1-x. Therecipient can accept this allocation, or reject it in which case both getnothing. The subgame perfect equilibrium outcome is that A would offer thesmallest possible amount to R, e.g., the share $.99 for A and $.01 for R, andthat the recipient should accept. The experimental evidence, however, is thatA offers a relatively large share to R, often 50-50, and that R would oftenreject smaller positive amounts. We may interpret R's behavior haswillingness to pay a cost to punish "unfair" splits. With regardto A's behavior -- does A care about fairness too? Or is A income-maximizinggiven R's likely behavior? See also Dictator Game.Contexts: game theory; experimentalunbalanced data:In a panel dataset, there are observations across cross-section units(e.g. individuals or firms), and across time periods. Often such a data setcan be represented by a completely filled in matrix of N units and T periods.In the "unbalanced data" case, however, the number of observationsper time period varies. (Equivalently one might say that the number ofobservations per unit is not always the same.) One might handle this byletting T be the total number of time periods and Nt be the numberof observations in each period.Contexts: econometrics; estimationunbiased:An estimator b of a distribution's parameter B is unbiased if the mean of b'ssampling distribution is B. Formally, if: E = B.Source: Greene, 1993, p 93Contexts: econometricsuncertainty:If outcomes will occur with a probability that cannot even be estimated, thedecisionmaker faces uncertainty. Contrast risk.This meaning to uncertainty is attributed to Frank Knight, and is sometimesreferred to as Knightian uncertainty.The decisionmaker can apply game theory even in such a circumstance, e.g. thechoice of a dominant strategy.Kreps (1988), p 31, writes that three standard ways of modeling choices madeunder conditions of uncertainty are with von Neumann-Morgenstern expectedutility over objective uncertainty, the Savage axioms for modeling subjectiveuncertainty, and the Anscombe-Aumann theory which is a middle course betweenthem.A recent ad for a new book edited by Haim Levy (Stochastic Dominance:Investment Decision Making under Uncertainty) considers three ways ofmodeling investment choices under uncertainty: by tradeoffs between mean andvariance, by choices made by stochastic dominance, and non-expectedutility approaches using prospect theory.Source: J. Montgomery, social networks paper;Kreps, 1988Contexts: modelsuncorrelated:Two random variables X and Y are uncorrelated if E(XY)=E(X)E(y). Note thatthis does not guarantee they are independent.Source: Greene, 1993, p 64-65Contexts: econometricsunder the null:Means "assuming the hypothesis formally being tested is true." See.Contexts: phrases; econometrics"<null hypothesis.Contexts: phrases; econometricsover a range which we will denote [a,b].Pdfis (x-a)/(b-a). Mean is .5*(a+b). Variance is(1/12)(b-a)2.Contexts: statisticsuniform kernel:The uniform kernel function is 1/2, for -1>u>1 and zero outside thatrange. Here u=(x-xi)/h, where h is the window width andxi are the values of the independent variable in the data, and x isthe value of the independent variable for which one seeks an estimate. Unlikemost kernel functions this one is unbounded in the x direction; so every datapoint will be brought into every estimate in theory, although outside threestandard deviations they make hardly any difference.For kernel estimation.Source: Hardle, 1990Contexts: econometrics; nonparametrics; estimationuniform weak law of large numbers:See Wooldridge chapter, p 2651. The UWLLN applies to a non-random criterionfunction qt(wt,q), if thesample average of qt() for a sample {wt} from a randomtime series is a consistent estimator for E(qt()).A law like this is proved with Chebyshev's inequality.Source: Wooldridge, 1995, p 2651Contexts: econometrics; statistics; time seriesunion threat model:"Firms may find it profitable to pay wages above the market clearinglevel to try to prevent unionization." In a model this could lead to jobrationing and unemployment, just as efficiency wage models can.Source: Katz, "Efficiency Wage Theories: A Partial Evaluation" NBER MacroAnnual 1986, p 250Contexts: laborunit root:An attribute of a statistical model of a time series whose autoregressiveparameter is one. In a data series y[t] modeled by:y[t+1] = y[t] + other termsthe series y[] has a unit root.Contexts: statistics; econometrics; time seriesunit root test:A statistical test for the proposition that in a autoregressive statisticalmodel of a time series, the autoregressive parameter is one. In a data seriesy[t], where t a whole number, modeled by:y[t+1] = ay[t] + other termswhere a is an unknown constant, a unit root test would be a test of thehypothesis that a=1, usually against the alternative that |a|Contexts: statistics; econometrics; time seriesunity:A synonym for the number 'one'.Contexts: phrasesunivariate:A discrete choice model in which the choice is made from a one-dimensional setis said to be a univariate discrete choice model.Contexts: econometricsunivariate binary model:For dependent variable yi that can be only one or zero, and acontinuous indepdendent scalar variable xi, that:Pr(yi=1)=F(xi'b)Here b is a parameter to be estimated, and F is a distribution function. Seeprobit and logit models for examples.Source: Takeshi Amemiya, "Discrete Choice Models," The New Palgrave:EconometricsContexts: econometrics; estimationunrestricted estimate:An estimate of parameters taken without constraining the parameters. See"restricted estimate."Contexts: econometrics; estimationupper hemicontinuous:no disappearing points.Contexts: real analysis; modelsurban ghetto:As commonly defined by U.S. researchers: areas where 40 percent or more ofresidents are poor.Source: Blank, _ITAN_, p. 41Contexts: poverty; datautilitarianism:A moral philosophy, generally operating on the principle that the utility(happiness or satisfaction) of different people can not only be measured butalso meaningfully summed over people and that utility comparisons betweenpeople are meaningful. That makes it possible to achieve a well-definedsocietal optimum in allocations, production, and other decisions, and achievethe goal utilitarian British philosopher Jeremy Bentham described as "thegreatest good for the greatest number."This form of utilitarianism is thought of as extreme, now, partly because itis widely believed that there exists no generally acceptable way of summingutilities across people and comparing between them. Utility functions thatcan be compared and summed arithmetically are cardinal utilityfunctions; utility functions that only represent the choices that would bemade by an individual are ordinal.Contexts: philosophyutility curve:synonym for indifference curve.Contexts: modelsutility function:A function which describes an individual agent's preferences. It is amathematical relation from various quantitatively measurable goods given to anindividual, or attributes of that individual's environment, and a level ofsatisfaction that brings to the individual. We have no measure of the levelof satisfaction, or utility level, experienced by the agent but we can make ahypothesis about the individual's utility function which could then bedisproved by the individual's behavior. Because they *could* be disproved,the utility functions economists normally use have survived something of aselection process.A standard utility function is log utilitywhich can be a function of aone-dimensional measure of consumption or wealth.Contexts: utility theoryUVAR:Unstructured VAR(Vector Autoregression)Contexts: econometrics; time series; estimationUWLLN:Uniform weak law of large numbersSource: Wooldridge, 1995, p 2651Contexts: econometrics; statistics; time seriesvalue added:A measure of output. Value added by an organization or industry is, inprinciple:revenue - non-labor costs of inputswhere revenue can be imagined to be price*quantity, and costs are usuallydescribed by capital (structures, equipment, land), materials, energy,and purchased services.Treatment of taxes and subsidies can be nontrivial.Value-added is a measure of output which is potentially comparableacross countries and economic structures.value function:Often denoted v() or V(). Its value is the present discounted value, inconsumption or utility terms, of the choice represented by its arguments.The classic example, from Stokey and Lucas, is:v(k) = maxk' { u(k, k') + bv(k') }where k is current capital,k' is the choice of capital for the next (discrete time) period,u(k, k') is the utility from the consumption implied by k and k',b is the period-to-period discount factor,and the agent is presumed to have a time-separable function, in a discretetime environment, and to make the choice of k' that maximizes the givenfunction.Source: Stokey and Lucas, 1989Contexts: macro; modelsVAR:Vector Autoregression, a kind of model of related time series.In the simplest example, the vector of data points at each time t(yt) is thought of as a parameter vector (say, phi1) times aprevious value of the data vector, plus a vector of errors about which somedistribution is assumed. Such a model may have autoregression going backfurther in time than t-1 too.Contexts: econometrics; time series; estimationvar():An operator returning the varianceof its argumentContexts: notationvariance:The variance of a distribution is the average of squares of the distances fromthe values drawn from the mean of the distribution:var(x) = E[(x-Ex)2].Also called 'centered second moment.'Nick Cox attributes the term to R.A. Fisher, 1918.Contexts: econometrics; statisticsvariance decomposition:In a VAR, the variance decomposition at horizon h is the set ofR2 values associated with the dependent variable yt andeach of the shocks h periods prior.Source: M.W. Watson, Handbook of Econometrics, Ch 47, p. 2900Contexts: econometrics; estimation; time seriesvariance ratio statistic:discussed thoroughly on Bollerslev-Hodrick 1992 p. 19. Equations andestimation there.Contexts: finance; time seriesVARs:Vector Autoregressions. "Vector autoregressive models are _atheoretical_models that use only the observed time series properties of the data toforecast economic variables." Unlike structural models there are noassumptions/restrictions that theorists of different stripes would object to.But a VAR approach only test LINEAR relations among the time series.Source: Hakkio & Morris: Vector Autoregressions, a User's GuideContexts: macro; time series; estimationvec:An operator. For a matrix C, vec(C) is the vector constructed by stacking allof the columns of C, the second below the first and so on. So if C is n x k,then vec(C) is nk x 1.Contexts: econometrics; notationvega:As used with respect to options: "The vega of a portfolio of derivativesis the rate of change fo the value of the portfolio with respect to thevolatility of the underlying asset." -- Hull (1997) p 328.Formally this is a partial derivative.A portfolio is vega-neutral if it has a vega of zero.Source: Hull, 1997, p 328Contexts: financeverifiable:Observable to outsiders, in the context of a model of information.Models commonly assume that some the values of some variables are known toboth of the parties to a contract but are NOT verifiable, by which we meanthat outsiders cannot see them and so references to those variables in acontract between the two parties cannot be enforced by outside authorities.Examples: .....vintage model:One in which technological change is 'embodied' in Solow'slanguage.Source: Mortensen, Job Reallocation paper, Feb 1997Contexts: macrovNM:Abbreviation for von Neumann-Morgenstern, which describes attributes ofsome utility functions.Contexts: modelling; micro theoryvolatility clustering:In a time series of stock prices, it is observed that the variance of returnsor log-prices is high for extended periods and then low for extended periods.(E.g. the variance of daily returns can be high one month and low the next.)This occurs to a degree that makes an iidmodel of log-prices orreturns unconvincing. This property of time series of prices can be called'volatility clustering' and is usually approached by modeling the priceprocess with an ARCH-type model.Source: Bollerslev-Hodrick 92 circa p 8Contexts: finance; time seriesvon Neumann-Morgenstern utility:Describes a utility function (or perhaps a broader class of preferencerelations) that has the expected utility property: the agent is indifferentbetween receiving a given bundle or a gamble with the same expectedvalue.There may be other, or somewhat stronger or weaker assumptions in the vNMphrasing but this is a basic and important one. It does not seem to be thecase that such a utility representation is required to be increasing in allarguments or concave in all arguments, although these are also commonassumptions about utility functions.The name refers to John von Neumann and Oskar Morgenstern's Theory of Gamesand Economic Behavior. Kreps (1990), p 76, says that this kind of utilityfunction predates that work substantially, and was used in the 1700s by DanielBernoulli.Source: Kreps (1990)Contexts: micro theory; modellingWACM:abbreviation for the Weak Axiom of Cost MinimizationSource: Varian, 1992Contexts: modelswage curve:A graph of the relation between the local rate of unemployment, on thehorizontal axis, and the local wage rate, on the vertical axis. Blanchflowerand Oswald show that this relation is downward sloping.That is, locally high wages and locally low unemployment arecorrelated.Source: Blanchflower and Oswald, The Wage Curve, Ch 4Contexts: laborwage equation:An equation in which a wage is the dependent variable. Usually this is anempirical, econometric, linear regression equation. It may however benonlinear, or an abstract equation within a structural model.Contexts: labor economicsWallis statistic:A test for fourth-order serial correlationin the residuals of aregression, from Wallis (1972) Econometrica 40:617-636. Fourth-order serialcorrelation comes up in the context of quarterly data; e.g., seasonality.Formally, the statistic is:d4=(sum from t=5 to t=T of:(et-et-4)2/(sum from t=1 to t=T of:et2)where the series of et are the residuals from a regression.Tables for interpreting the statistic are in Wallis (1972).Source: Greene, 1993, p 424Contexts: time series; econometrics; estimationWalrasian auctioneer:A hypothetical market-maker who matches suppliers and demanders to get asingle price for a good. One imagines such a market-maker when modeling amarket as having a single price at which all parties can trade.Such an auctioneer makes the process of finding trading opportunities perfectand cost free; consider by contrast a "search problem" in whichthere is a stochastic cost of finding a partner to trade with and transactionscosts when one does meet such a partner.Contexts: modelsWalrasian equilibrium:An allocation vector pair (x,p), where x are the quantities held of each goodby each agent, and p is a vector of prices for each good, is a Walrasianequilibrium if (a) it is feasible, and (b) each agent is choosing optimally,given that agent's budget. In a Walrasian equilibrium, if an agent prefersanother combination of goods, the agent can't afford it.Contexts: general equilibrium; modelsWalrasian model:A competitive markets equilibrium model "'without any externalities,asymmetric information, missing markets, or other imperfections."(Romer, 1996, p 151)"In this general equilibrium model, commodities are identical, themarket isconcentrated at a single point [location] in space, and the exchange isinstantaneous. [Individuals] are fully informed about the exchange commodityand the terms of trade are known to both parties. [No] effort is required toeffect exchange other than to dispense with the appropriate amount of cash.[Prices are] a sufficient allocative device to achieve highest value uses."(North, 1990, p. 30.)Source: Romer, 1996, p 151; North, 1990Contexts: modelswavelet:A wavelet is a function which (a) maps from the real line to the real line,(b) has an average value of zero, (c) has values very near zero except over abounded domain, and (d) is used for the purpose, analogous to Fourieranalysis, implied by the following paragraphs.Unlike sine waves, wavelets tend to be irregular, asymmetric, and to havevalues that die out to zero as one approaches positive and negative infinity."Fourier analysis consists of breaking up a signal into sine waves ofvarious frequencies. Similarly, wavelet analysis is the breaking up ofa signal into shifted and scaled versions of the original (or mother)wavelet."By decomposing a signal into wavelets one hopes not to lose local features ofthe signal and information about timing. These contrast with Fourieranalysis, which tends to reproduce only repeated features of the originalfunction or series.Source: Michel Misiti, Yves Misiti, Georges Oppenheim, Jean-Michel Poggi.MATLAB Wavelet Toolbox User's Guide, version 1. March 1996. CopyrightThe Mathworks, Inc. page 1-7.Contexts: econometrics; statisticsWE:Walrasian EquilibriumContexts: general equilibrium; modelsweak form:Can refer to the weak form of the efficient markets hypothesis, whichis that any information in the past prices of a security are fully reflectedin its current price.Fama (1991) broadens the category of tests of the weak form hypothesis underthe name of 'test for return predictability.'Source: Fama, 1970Contexts: financeweak incentive:An incentive that is does not encourage maximization of an objective, becauseit is ambiguous or satisfice-able.For example, payment of weekly wages is a weak incentive since by constructionit does not encourage maximum production, but rather the minimal performanceof showing up every work day. This can be the best kind of incentive in acontract if the buyer doesn't know exactly what he wants or if output is notstraightforwardly measurable.Contrast strong incentive.Source: Weisbrod's class 5/23/97Contexts: public economicsweak law of large numbers:Quoted right from Wooldridge chapter:A sequence of random variables {zt} for t=1,2,... satisfies theweak law of large numbers if these three conditions hold:(1) E[|zt|] is finite for all t,(2) as T goes to infinity, the limit of the average of the first T elementsof {zt} 'exists' [unknown: that means it's fixed and finite,right?],(3) as T goes to infinity, the probability limit of the average of the firstT elements of the series [zt - E(zt)] is zero.The most important point (I think) is that the weak law of large numbers holdsiff the sample average is a consistent estimate for the mean of the process.Laws of large numbers are proved with Chebyshev's inequality.Source: Wooldridge, 1995, p 2651Contexts: econometrics; statistics; time seriesweak stationarity:synonym for covariance stationarity. A random process is weakly stationary ifand only if it is covariance stationary.Contexts: statistics; time series; econometricsweakly consistent:synonym for consistentin the context of evaluatingestimators.Contexts: econometrics; statisticsweakly dependent:A time series process {xt} is weakly dependent iff these fourconditions hold:(1) {xt} is essentially stationary, that is ifE[xt2] is uniformly bounded. In any such process, thefollowing 'variance of partial sums' is well defined, and it will be used inthe following conditions. Define sT2 to be the variance of the sumfrom t=1 to t=T of xt.(2) sT2 is O(T).(3) sT-2 is O(1/T).(4) The asymptotic distribution of the sum from t=1 to t=T of(xt-E(xt))/sT isN(0,1).These conditions rule out random processes which are serially correlated toopositively or negatively or whose partial sums are near zero.Example 1: An iid process IS weakly dependent. (Domowitz, in class4/14/97.)Example 2: A stable AR(1) (|r|Source: Wooldridge, 1995, p 2643-44Contexts: time series; econometrics; statisticsweakly ergodic:A stochastic process may be weakly ergodic without being stronglyergodic.Contexts: time series; econometricsweakly Pareto Optimal:An allocation is weakly Pareto optimal (WPO) if a feasible reallocation wouldbe strictly preferred by all agents.WPO >=< SPO if preferences are continuous and strictly increasing (thatis, locally nonsatiated).Contexts: general equilibrium; modelsWebEc:A Web site with indexes to World Wide Web Resources in Economics. Click here to go there.wedge:The gap between the price paid by the buyer and price received by the sellerin an exchange. Might be caused by a tax paid to a third party.Contexts: micro theoryWeibull distribution:in at least one 'standard' specification, has pdf:f(x)=TxT-1exp(-xT)where T stands for q. T=1 is the simplest case.It looks like the pdf is zero for xContexts: statisticsWeierstrauss Theorem:that a continuous function on a closed and bounded set will have a maximum anda minimum.This theorem is often used implicitly, in the assumption that some set iscompact, meaning closed and bounded. Examples that may helpclarify:Example 1: Consider a set which is unbounded, like the real line. Sayvariable x has any value on the real line, and we wish to maximize thefunction f(x)=2x. It doesn't have a maximum or minimum because values of xfurther from zero have more and more extreme values of f(x).Example 2: Consider a set which is not closed, like (0,1). Again, let f(x)be 2x. Again this function has no maximum or minimum because there is nolargest or smallest value of x in the set.Contexts: real analysisweighted least squares:A way of choosing an estimator. Makes a weighted tradeoff between the errorin an estimator due to bias and that due to variance.Putting equal weights on the two is the mean square errorcriterion.Source: Kennedy, 1992, p. 16Contexts: econometricswelfare capitalism:welfare capitalism -- the practice of employers' voluntary provision ofnonwage benefits of to their blue collar employees.Source: Moriguchi, Chiaki. 2000. TITLE?Contexts: labor; macro; history; comparative; political economy; sociologyWesVar:A software program for computing estimates and variance estimates frompotentially complicated survey data. Made byWestat.Source: Westat, Inc.Contexts: data; softwarewhite noise process:a random processof random variablesthat are uncorrelated, havemean zero, and a finite variance (which is denoted s2 below).Formally, et is a white noise process if E(et) = 0,E(et2) = s2, andE(etej) = 0 for tj, where all those expectations aretaken prior to times t and j.A common, slightly stronger condition is that they are independent from oneanother; this is an "independent white noise process."Often one assumes a normal distribution for the variables, in which case thedistribution was completely specified by the mean and variance; these are"normally distributed" or "Gaussian" white noiseprocesses.Contexts: econometrics; finance; statistics; modelsWhite standard errors:Same as Huber-White standard errors.Contexts: econometrics; statistics; estimationWiener process:A continuous-time random walkwith random jumps at every point in time(roughly speaking).window width:Synonym for bandwidthin the context of kernel estimationContexts: econometrics, nonparametricswinner's curse:That a winner of an auction may have overestimated the value of the goodauctioned."The winner's curse arises in an auction when the good being sold has acommon value to all the bidders (such as an oil field) and each bidder has aprivately known unbiased estimate of the value of the good (such as from ageologist's report): the winning bidder [may] be the one who mostoverestimated the value of the good; this bidder's estimate itself may beunbiased but the estimate conditional on the knowledge that it is the highestof n unbiased estimates is not." -- Gibbons and KatzSource: Gibbons and Katz, "Layoffs and Lemons", Journal of LaborEconomics, 1991Contexts: game theory; auctionsWIPO:World Intellectual Property Organization, a component of the WTOagreement.Contexts: intellectual property; organizationswithin estimator:synonym for fixed effects estimatorContexts: econometricsWLLN:Weak law of large numbersContexts: econometrics; statistics; time seriesWLOG:abbreviation for "without loss of generality". This phrase isrelevant in the context of a proof or derivation in which the notation becomessimpler, or there are fewer cases to demonstrate, by making an innocuousassumption, for example that the data are in a certain order.Contexts: mathematics; proofsWold decomposition:Any zero mean, covariance stationaryprocess can be represented as amoving average sum of white noise processes plus a linearly deterministiccomponent that is a function of the index t. That form of expressing theprocess is its Wold decomposition. Clear expression of this idea requires anequation or two that cannot be put here yet.Source: Hamilton, p. 109Contexts: econometrics; time seriesWold's theorem:That any covariance stationarystochastic processwith mean zerohas a moving averagerepresentation, called its Wolddecomposition. Let {xt} be that process. See Sargent,1987, p 286-288 for the complete theorem, assumptions, andproof.Source: Sargent, 1987, p 286-288Contexts: macro; time series; econometrics; statisticsWorld Bank:A collection of international organizations to aid countries in their processof economic development with loans, advice, and research. It was founded inthe 1940s to aid Western European countries after World War II withcapital.Click here to go to theWorld Bank web site.Contexts: organizationsworld systems theory:[What follows is the editor's best understanding, but not definitive.] Acategory of sociological/historical description and analysis in which aspectsof the world's history are thought of as byproducts of the world being anorganic whole. Key categories are core and periphery. Corecountries, economies, or societies are richer, have more capital-intensiveindustry, skilled labor and relatively high profits. In a way they exploitthe poorer peripheral societies but it may not be a deliberatecollusion.Source: Gray's review of O'Hearn's book at http://www.eh.net/BookReview, firstparagraph.http://eh.net/bookreviews/library/0595.shtmlWPO:stands for Weakly Pareto OptimalContexts: general equilibrium; modelsX-11 ARIMA:A nonparametric method or program for seasonal adjustment, developed at theCensus Bureau, and used by US national agencies such as the FederalReserve.Source: conversations with Ish, Jan 18, 2004; Stuart Scott, Aug 2, 2005Contexts: data; estimationX-inefficiency model:A model in which there is a best-practice technology, and a unit (firm orcountry, for example) either has that technology or one not as good. Norandom factor could make a firm's production function better than thatbest-practice one.An organization is perfectly x-efficient if it produces the maximum outputpossible from its inputs? Or is there some connection between its choiceof output levels and types and its x-efficiency?Sources of x-inefficiency discussed in the academic literature:n inertia in process; that is, doing things to minimize internal redesignfrom the way they were done last time, rather than in the most efficientway for current circumstancesIn prisoner's dilemma situations where an individual's effort isunobservable; lack of trust and lack of communication can contribute tothis. It is hard for any individual to coordinate the agreement necessaryto raise effort. (Leibenstein, Sept 1983 AER comment.)In Absence of knowledge (I haven't seen this discussed but it has to be outthere.)Source: Leibenstein and othersContexts: IOyellow-dog contract:A requirement by a firm that the worker agree not to engage in collectivelabor action. Such contracts are not enforceable in the U.S.Source: Katz, "Efficiency Wage Theories...", NBER Annual 1986, p 250Contexts: laborzero-sum game:A game in which total winnings and total losings sum to zero for each possible


What is Dominican Republic-Central America-United States Free Trade Agreement (CAFTA-DR)? definition and meaning

A regionaltradeagreementsigned in 2004, which establishes bilateral, preferential trade conditions between the signatories (US, Nicaragua, Honduras, Guatemala, Costa Rica, and El Salvador).


授業で用いた経済学用語の英語リスト

TOT (terms of trade) 交易条件PPF (Production Possibilities Frontier) 生産可能曲線、生産可能フロンティア (以下は定義) PPFis a graph that shows the combinations of output that the economy can possiblyproduce given the available factors of production and the available productiontechnologyCPF (Consumption Possibilities Frontier) 消費可能曲線、消費可能フロンティアindifference curve (indif. curve) 無差別曲線 (以下は定義)An indifference curve (or, in many dimensions, indifference surface) shows aset of consumption bundles among which the individual is indifferent. That is,the bundles all provide the same level of utility.social (community) indifference curves 社会的無差別曲線homothetic ホモセティック (相似拡大的) homotheticpreferenceとは相対価格が同じときには財の消費する比率が一定であるような消費者の選好をさす。もし所得拡張経路(IncomeExpansion Path)を描くと、それは、原点から放射状に延びる線になる。exogenous vs. endogenous variables 外生変数(モデルの外から与えられている変数)と内生変数(モデルの中で決まる変数)utility maximization 効用最大化budget constraint (line)  予算制約(線)indifference curves 無差別曲線 MRS(Marginal Rate of Substitution) 限界代替率 (indif. curveの傾きの絶対値)marginal utility 限界効用PPF (Production Possibilities Frontier) 生産可能曲線、生産可能フロンティア (以下は定義) PPFis a graph that shows the combinations of output that the economy can possiblyproduce given the available factors of production and the available productiontechnologyMRT (Marginal Rate of Transformation) 限界変形率 (PPFの傾きの絶対値)Opportunity Cost 機会費用 (PPFの傾きの絶対値)production function 生産関数inputs インプット、(生産における)投入物(生産要素と、原材料など)quantity of inputs投入量factors of production 生産要素L ... labor 労働K ... capital 資本T ... land 土地


ELECTRICAL & ELECTRONICS ENGINEERING

  # NON UNIVERSITY EXAMINATION SYSTEM   *The student will submit a synopsis at the beginningof the semester for approval from the departmental committee in a specifiedformat. The student will have to present the progress of the work throughseminars and progress reports.   ^Practical training was conducted after sixthsemester. However, Viva-Voce for evaluation of Practical Training will beconducted in this semester. BACHELOROF TECHNOLOGY (Electrical& Electronics Engineering)   EIGHTH SEMESTER EXAMINATION


AES E

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GUNSUL...

  135°hook 백삼십오도 갈고리 180°hook 반원형갈고리 3-hinged arch 3활절 아치 90°hook 구십도 갈고리 AASHO road test 아쇼 도로시험 AASHTO 아쉬토 AASHTO classification 아쉬토 분류법 abnormal climate 이상기후 abnormal weather 이상기상 abrasion 마모 abrasion loss 마모감량 abrasion of rail 레일마모 abrasion resistance 닳음저항 abrasion resistance steel 내마모강 abrasion test 닳음시험, 마모시험 ABS detergent 에이비에스세제 absolute dry condition of aggregate 골재의 절대건조상태 absolute error 절대오차 absolute maximum bending moment 절대 최대 휨모멘트 absolute maximum shear force 절대 최대 전단력 absolute pressure 절대압력 absolute roughness 절대조도 absolute signal 절대신호기 absolute surface dried specific gravity 골재의 절건비중   of aggregate absolute temperature 절대온도 absolute viscosity 절대점도 absolute volume of aggregate 골재의 절대용적 abson method 앱슨법 absorption 흡수 absorption ratio of aggregate 골재의 흡수율 absorption spectrophotometry 흡광광도법 absortion index 흡수율 abt system 치궤조식철도 abutment 교대 abutment joint surface 맞대기이음면 abutment test wall 반력벽 AC arc welding 교류아크용접 accelerated flow 가속류 accelerated weathering test 촉진내후시험 accelerate-stop distance 가속정지거리 accelerating curing 촉진양생 acceleration of gravity 중력 가속도 acceleration resistance 가속도저항 accelerator 경화촉진제, 급결제, 촉진제 accelerometer 가속도계 acceptable daily intake 일일허용섭취량 acceptance gap 수락 간격 acceptannce value 합격판정치 access control 출입제한 access hole 점검구 accessibility 접근성 access shaft 진입구 access tunnel 진입터널 accomodations for freight service 화물설비 accoustic treatment 흡음처리 accupancy of road 도로점용 accuracy 정확도 acetaldehyde 아세트알데히드 acetylene 아세틸렌 acetylene gas generator 아세틸렌 발생기 acid 산 acid dipping 산침지 acidic rock 산성암 acidity 산성도 acid rain 산성비 acid river 산성하천 acid sludge 산성슬러지 acid soil 산성토 ACN-PCN method 에이씨엔-피씨엔 방법 acoustic wave 음파 activated biofilter process 활성생물막여상 activated carbon 활성탄 activated carbon adsorption 활성탄흡착 activated carbon process 활성탄처리 activated carbon regeneration 활성탄재생 activated clay 활성백토 activated silica 활성규사 activated sludge 활성슬러지 activated sludge process 활성슬러지법 active earth pressure 주동토압 active fault 활성단층 active isolation 진동측방진 active pile  주동말뚝 activity 활동, 활성도 activity time 활동시각 actual evaporation 실증 actual evapotranspiration 실증발 actual grade 실제경사 actual head 실양정 actual velocity 실제유속 acute toxicity 급성독성 added lane 부가 차선 addition 첨가물 additional bar 가외철근, 추가철근 addition of ballast 도상보충 additive 혼화재 adhension type railway 부착식 철도 adhesion 부착력 adhesion agent 박리방지제 adhesive coefficient 점착계수 adiabatic change 단열변화 adiabatic cooling 단열냉각 adiabatic curing 단열양생 adiabatic expansion 단열팽창 adiabatic lapse rate 단열감률, 단열체감률 adit 횡갱 adjustment of joint gap 유간정정 adjustment of network 망조정 adjustment of re-alignment of track 궤도정정 adjustment of re-lining of track 궤도정정 adjustment of track lining of track 궤도정정 adjustment screw 조정나사 administration of road 도로의 관리 admixture 혼화제 adsorbed water 흡착수 adsorbed water layer 흡착수막 adsorbent 흡착제 adsorption 흡착 adsorption filtration 흡착여과 adsorption isotherm 등온흡착식, 흡착등온식 adsorption isothermal curve 흡착등온선 advanced direction sign 예고표지 advanced sign 예고표지 advanced treatment 고도처리 advance of signal 신호기외방 advancing slope grouting 경사방향주입 advancing slope method 경사방향타설방법 advection 이송 advective dispersion 이송확산 advective term 이송항 adverse slope 역경사 adverse slope 역구배 AE agent 에이이제 AE cement 에이이시멘트 AE concrete 에이이콘크리트 aeolian deposit 풍성퇴적물 aeolian deposit 풍적토 aerated concrete 공기혼입콘크리트 aerated lagoon 폭기산화지 aeration 폭기 aeration tank 폭기조 aerator 폭기장치 aerial photo surveying 항공사진측량 aerial railway 고가철도 aerial ropeway 가공삭도 aerial triangulation 항공삼각측량 aerobes 호기성균, 호기성미생물 aerobic 호기성 aerobic-anaerobic pond 호기성-혐기성 안정화지 aerobic decomposition 호기성분해 aerobic digestion 호기성소화 aerobic pond 호기성안정화지 aerobic treatment 호기성처리 aerodrome beacon 비행장 등대 aerodrome elevation 비행장 표고 aerodrome identification sign 비행장 식별 표지 aerodrome light 비행장 등화 aerodrome reference point 비행장 표점 aerodrome standard temperature 비행장 표준온도 aeronautical beacon 항공등대 aeronautical ground light 지상 항공등화 aeronautical information publication 항공정보출판물 aeronautical law 항공법 aeronautical light 항공등화 aeronautical navigation aids 항공 보안시설 aero-triangulation 항공삼각측량 aesthetic area 미관지구 afterbay 하부저수지 after burner 후연소기 after curing 후기양생 after precipitation 후침전 age 재령 age-hardening 시효경화 ageing 시효 aggradation 하상상승 aggregate 골재 aggregate abrasion test 골재마모시험 aggregate batcher 골재계량기 aggregate-cement ratio 골재-시멘트비 aggregate coating test 골재피막시험 aggregate crushing value test 파쇄 시험 aggregate drier 골재건조기 aggregate feeder 골재공급기 aggregate interlock 골재의 맞물림 aggregate plant 골재플랜트 aggregate spreader 골재살포기 aging 노화(아스팔트의), 시효 agitation 교반 agitator 애지테이터 agreement 계약 agricultural meteorology 농업기상학 ailrace tunnel 방수로터널 air base 촬영기선, 항공기지 air blow 공기불기 airborne dust 부유분진 air bucker 공기버커 air chamber 공기작업실 air cleaner 공기정화기 air compressor 공기압축기 air condenser 공기냉각기 air conditioning 공기조화 air content 공기량, 공기함유율 air content by volume 공기간극률 air content test 공기량 시험 air cooled blast furnace slag 공냉고로슬래그 air cooling 공냉조작 aircraft classification number 항공기 등급번호 aircraft delay 항공기 지체 aircraft maintenance area 항공기 정비지역 aircraft mix index 항공기 혼합 지수 air curing 공기양생, 공기중 양생 air dry 공기건조 air dry condition 기건상태 air elutriator 공기선별기 air entrained concrete 에이이콘크리트 air entraining agent 공기 연행제 airfield 비행장 airfield facilities 비행장 시설 airfield pavement condition index 비행장 포장 상태 지수 air-hardening steel 자경강 air humidity  대기수분 air in the void 간극공기 air jet 공기쏘기 air line correction 수면상부보정 air lock 공기갑(공기실), 기갑 air mass 기단 air meter 에어미터 air moisture 대기수분 air photo signal 대공표지 air photo surveying 항공사진측량 air pollution 대기오염 air pollution index 대기오염지표 air pollution standard 대기오염 환경기준 airport 공항 airport administration area 공항관리지역 airport annual service volume 공항 연간 서비스량 airport area 공항구역 airport capacity 공항 용량 airport facilities 공항 시설 airport master plan 공항개발 기본계획 airport pavement 공항 포장 airport pavement shoulder 공항포장 길어깨 airport practical capacity 공항 실용용량 airport surface detection equipment 공항면탐지레이다 airport surveillance radar 공항감시레이다 airport surveying 비행장측량 airport ultimate capacity 공항 포화용량 airport zone 공항구역 air pressure 기압 air receiver tank 에어탱크 air release valve 공기밸브 air reservoir 공기저장기 air resistance 공기저항 air riveter 공기리베터 air side 에어사이드 air spinning method 에어 스피닝 공법 airstrip classification 착륙대 등급 air target signal 대공표지 air temperature 기온 air tightness 기밀 air traffic contol facilities 항공교통관제시설 air traffic control 항공 교통관제 air truck drill 에어트럭드릴 air vent 급기관, 통기공 air void 기포 air washer 공기세정기 airway 항공로 air dried wood 기건목재 air­solid ratio 공기­고형물비 albuminoid nitrogen 알부미노이드질소 algae 조류 1) algicide 살조제 algorithm 알고리즘 alidade 알리다드 alignment 선형, 수로노선 alignment defect 줄틀림 alinement 선형 aliphatic compound 지방족화합물 alkali 알칼리 alkali aggregate reaction 알칼리골재반응 alkali content 알칼리함량 alkaline chemical 알칼리제 alkaline soil 알칼리성 흙 alkaline wastewater 알칼리폐수 alkalinity 알칼리도 alkali reactivity of aggregate 골재의 알칼리반응성 alley 소로 alligator crack 거북등균열 allowable bearing capacity of pile 말뚝의 허용지지력 allowable buckling stress 허용 좌굴 응력 allowable compressive stress 허용압축응력 allowable contact stress 허용 접촉 응력 allowable error 허용오차 allowable fatigue stress 피로허용응력 allowable gross landing weight 허용 착륙중량 allowable load 허용하중 allowable shear stress 허용전단응력 allowable stress 허용응력 allowable stress design 허용응력설계법 allowable stress for bending 허용휨응력 allowable tensile stress 허용인장응력 allowable torsional stress 허용 비틂 응력 allowance 여유틈 allowed moment 허용모멘트 alloy steel 합금강 all position 전자세 alluvial cone 충적선상지 alluvial deposit 충적토 alluvial river 충적하천 all weather farming 전천후농업 alteration index 변질지수 alternate depth 대응수심 alternate joint 상호식 이음매 alternate justifiable expenditure 대체타당지출법 alternate road 대체도로 alternate signal system 교호시스템 alternating load 교번하중 alternating plasticity 교번 소성 alternating stress 교번응력, 양진응력 alternatives 대안 altitude 고도 alumina 알루미나 alumina cement 알루미나시멘트 aluminium powder 알루미늄 분말 aluminum sulfate 황산알루미늄 AM 에이엠 ammonia 암모니아 ammonia removal 암모니아제거 amount of deleterious substances 유해물 함유량 amount of mixing 혼합량 amplitude 진폭 anaerobes 혐기성균, 혐기성미생물 anaerobic 혐기성 anaerobic decomposition 혐기성분해 anaerobic digestion 혐기성소화 anaerobic pond 혐기성안정화지 anaerobic treatment 혐기성처리 anaglyphic stereoscopy 여색입체시 analytical photogrammetry 해석사진측량 analytical plotter 해석도화기 anchor 앵커   anchorage 박지, 앵커, 정착 anchorage bond stress 정착부착응력 anchorage deformation 정착부의 변형 anchorage length 정착길이 anchorages 정착장치 anchorage slip 정착부의 활동 anchorage zone 정착영역 anchor block 앵커블록 anchor bolt 앵커볼트 anchor coat 하도장재 anchored retaining wall 정착옹벽 anchor frame 앵커 프레임 anchoring 정착 anchor pile 앵커말뚝 anchor plate 버팀판, 정착판 anchor wall 정착벽 anchor wire rope 앵커 와이어 andesite 안산암 ANFO 안포 angle brace 니 브레이스 angle condition 각조건 angled parking 사각주기 angle float 각면흙손 angle of contact 접촉각 angle of internal friction 내부마찰각 angle of intersection 교각 angle of joint rotation 절점 회전각 angle of member rotation  부재 회전각 angle of repose 식각, 안식각 angle of screw 나사각 angle of shear resistance 전단저항각 angle parking 각도주차 angle splice plate 엘형 이음매판 angle steel tower 각도철탑 angular aggregate 모난골재 angular frequency 각주파수, 각 진동수 angular sand 모난모래 angular velocity 각속도 anhydrite 경석고 anion 음이온 anionic asphalt emulsioon 아니온계 아스팔트 유제 anionic surfactant 음이온 계면활성제 anisotropic body 이방성체 anisotropic hardening 이방성 경화 anisotropic material 비등방성 재료 anisotropy 이방성 annealing 풀림 annotation 주기 2) annual benefit of hydro-electric power 수력의 연간편익 annual departrue equivalent factors 연간이륙횟수 환산계수 annual departures 연간이륙횟수 annual evaporation 연증발량 annual flood 연최대홍수량 annual ring 나이테 annual series 연극치계열 annular shed 부채형차고 anoxic 무산소성 antagonism 길항작용 antecedent moisture condition 선행함수조건 antecedent precipitation 선행강수 antecedent precipitation index 선행강수지수 antecedent river 선행성하천 antenna tower 안테나 철탑 anthracite 무연탄 anticipated discharge 예상유량 anticline 배사구조 anti-corrosion coating bar 방식피복철근 anti-corrosive current 방식전류 anti-corrosive paint 녹막이페인트 anticreeper 복진방지장치, 안티크리파 antidune 역사구 antifoaming agent 기포저지제 antifoaming agent 소포제 antifouling paint 방오도료 antinode 파복 antishocking material 완충재 antiwear of rail 마모방지레일 anti freeze process 동상방지공법 anti frost layer 동결방지층 anti wearing mixture 내마모성표층용혼합재 apparent cohesion 겉보기점착력 apparent color 겉보기색 apparent density 겉보기밀도 apparent relaxation 겉보기릴랙세이션 apparent specific gravity 겉보기비중 apparent velocity 겉보기 유속 apporach surface 진입표면 approach 접근부 approach area 진입구역 approach delay 접근지체 approach indicating lamp 열차접근 표시등 approaching sign of railroad cross 건널목예고표 approaching velocity 접근유속 approaching velocity head 접근유속수두 approach lighting system 진입등 approach nose 접근단 approach of signal 신호기내방 approach slab 어프로우치 슬래브 approximate highest high water level 약 최고 고조위 approximate lowest low water level 약 최저 저조위 appurtenant work 부대공사 apron 계류장, 에이프런 aqueduct 수로교 aquiclude 난투수층 aquifer 대수층 arc 아크 arc air gouging 아크 에어 가우징 arc cutting 아크 절단 arch 아치 arch bridge 아치교 arch dam 아치 댐 arching 아치작용 arching effect 아치작용, 아칭효과 architecture surveying 건축측량 arch rib 아치 리브 arch rise 라이즈 arc spot welding 아크 스폿 용접 arc strike 아크스트라이크 arc stud welding 아크 스터드 용접 arc welding 아크 용접 arc welding electrode 아크 용접봉 area depth curve 면적깊이곡선 area ratio of sampler 면적비(샘플러의) areawide total pollutant load control 총량규제 aridity 건조도 arid zone 건조지대 arid zone hydrology 건조대 수문학 arm of moment 모멘트의 팔 armor coat 아머코우트 armor stone 피복석 arm signal 완목식 신호기 aromatic hydrocarbon 방향족 탄화수소 arrangement of bar 배근 arrival concourse 도착 콘코스 arrival lounge 도착 대합실 arrival track 도착선 arrow diagram 화살공정도 arsenic 비소 arterial 간선도로 arterial system 간선도로 체계 artesian aquifer 피압대수층 artesian condition 피압상태 artesian head 피압수두 artesian or confined 피압지하수 artesian well 굴착정, 자분정, 피압우물 articulated bus 굴절버스 artificial channel 인공수로 artificial lightweight aggregate 인공경량골재 artificial lightweight aggregate concrete 인공경량골재콘크리트 artificial rainfall 인공강우 artificial seasoning 인공건조법 artificial stone 인조석 asbestos 석면 asbestos asphalt mortar 석면아스팔트모르터 asbestos cement pipe 석면시멘트관 asbestosis 석면병 ascending grade 압상경사 aseismic design 내진설계 asher 절석쌓기 asher masonry 마름돌쌓기 ashlar 다듬돌 aspect ratio 변장비 asperity 거칠기 asphalt 아스팔트 asphalt base course 아스팔트혼합재 asphalt binder course 아스팔트 중간층 asphalt block 아스팔트블록 asphalt cement 아스팔트시멘트 asphalt concrete 아스팔트 콘크리트 asphalt covering 아스팔트도포 asphalt curb 아스팔트연석 asphalt distributor 아스팔트디스트리뷰터, 아스팔트 살포기 asphalt emulsion 아스팔트유제 asphalt emulsion for mixing 혼합용 아스팔트 유제 asphalt emulsion for penetration 침투용 아스팔트 유제 asphalt emulsion of high asphalt content 고농도 아스팔트유제 asphaltenes 아스팔텐 asphalt finisher 아스팔트 피니셔 asphalt grouting 아스팔트그라우팅 asphalt heater 아스팔트히터 asphalt kettle 아스팔트 케틀 asphalt macadam 아스팔트머캐덤 asphalt mastic 아스팔트마스틱 asphalt mixer 아스팔트믹서 asphalt mixing plant 아스팔트 믹싱플랜트 asphalt mortar 아스팔트모르터 asphalt oil 아스팔트유지 asphalt paste 아스팔트접착제 asphalt paver 아스팔트 페이버 asphalt penetration macadam 침투식 공법 asphalt plant 아스팔트플랜트 asphalt roofing 아스팔트루핑 asphalt sprayer 아스팔트분무기 asphalt spreader 아스팔트스프레더 asphalt tank 아스팔트탱크 assembled member flexibility matrix 집합부재 유연도 행렬 assembled member stiffness matrix 집합부재 강성도 행렬 assembly 조합 assembly diagram 조립도 assembly mark 제작기호 assimilation 동화작용 assisting grade 보조구배 ASTM standards 에이 에스 티엠 규격 astronomical longitude and latitude 천문경위도 astronomical positioning 천문측량 astronomical tide 천문조 asymmetrical load 역대칭 하중 ATC 에이티씨 at-grade intersection 평면교차로 atmosphere 대기 atmosphere pressure 대기압 atmospheric corrosion resisting  내후성강 atmospheric diffusion 대기확산 atmospheric pressure 대기압 atmospheric radiation 대기복사 atmospheric refraction 기차 atmospheric stability 대기 안정도 atmospheric steam curing 상압증기양생 ATO 에이티오 atomic absorption spectrometer 원자흡수분광도계 atomic hydrogen welding 원자수소용접 attachment angle 정착 기역형강 attendant parking 안내원 주차 attenuation 감쇠 Atterberg limit 아터버그 한계 attribute information 속성정보 auger boring 오거 보링 austenite 오스테나이트 autoclave 고압솥, 오토클레이브 autoclave curing 오토클레이브양생 autoclave cycle 오토클레이브사이클 auto free zone 자동차 금지구역 automated mapping 도면자동화, 자동도면화 automatic arc welding 자동아크용접 automatic batcher 전자동식배처 automatic block 자동폐색 automatic combustion control 자동연소제어 automatic control 자동제어 automatic gas cutting 자동가스절단 automatic gate 자동차단기 automatic level 자동레벨 automatic signal 자동신호기 automatic train control device 자동열차제어장치 automatic train operation device 자동열차운행장치 automatic train stop device 자동열차정지장치 automatic welding 자동용접 auto-oxidation 자기산화 autotrophs 독립영양생물 auxiliary aerodrome beacon 보조 비행장등대 auxiliary girder 보조거더 auxiliary lane 보조차선, 부가 차선 auxiliary reinforcement 보조철근 auxiliary track 부본선 available head 가용수두 available soil moisture 가용수분, 가용토양수분 available storage 가용저수용량 avalanche 눈사태, 사태, 산사태 avalanche protecting facilities 눈사태 방호시설 average annual daily traffic 연평균 일교통량 average annual operating hours 연간표준운전시간 average annual precipitation 연평균강수량 average bond stress 평균부착응력 average daily traffic 평균일교통량 average highway speed 평균도로속도 average speed 평균속도 average stopped-time delay 평균정지지체(시간) average travel speed 평균통행속도 axial arrangement 차축배치 axial deformation 축방향 변형 axial displacement 축방향 변위 axial force 축력, 축방향력 axial force diagram 축력도 axial force meter 볼트 축력계 axial force of rail 레일축력 axial load 축방향 하중, 축하중 axial resisting force 축방향 저항력 axial rigidity 축 강성 axial strain 축변형 axial tension meter 축력계 axial vibration 종진동 axis of streambed 하심축 axis of weld 용접축 axisymmetric shell 축대칭 쉘 axisymmetry 축대칭 azimuth 방위 azimuthal angle 방위각 azimuth method 방위각법 bacillus 간균 back beach 후빈 back bead 이면비드 back chipping 뒷면따내기, 뒷면칩핑 backer 리벳홀더 backfill grouting 뒤채움그라우팅 back filling 뒤채움 back gauge 백게이지 background concentration 백그라운드 농도 backhoe loader 백호로더 backing 뒷댐재 backing log  갓돌 backing plate 뒤댈판(띠) back levee 배수제, 역류제 backle weld 뒷면용접 back plastering 뒷면플래스터 바르기 back pressure 배압 backrush 되돌림파 backshore 후빈 back sight 후시 back stay 백 스테이 back step welding 후퇴용접 back up 수위상승 backward operation 퇴행운전 backwash 되돌림파 back washing 역세척 backwater 배수 1) backwater curve 배수곡선 back welding electrode 이면용접봉 bacteria 박테리아 bacterial corrosion 세균부식 baffle 조절판 baffle(wall) 정류판 bag filter 백필터, 자루여과기 baggage claim 수하물 인도장 bailer 베일러 baking 소건 balance box 밸런스박스 balanced arch 밸런스드 아치 balanced beam 균형보 balanced cant 균형캔트 balanced earthworks 평형토공 balanced load 균형 하중 balanced reinforcement 균형철근 balanced section 균형단면, 평형단면 balanced speed 균형속도 balanced steel ratio 균형철근비, 평형철근비 balanced super levation 균형캔트 balance point 평형점 balance weight 밸런스웨이트 balancing tank 조정조 ballast 도상 ballast bed 발라스트 도상 ballast cleaner 바라스트 크리너 ballast cleaning(or screening) 자갈치기 ballast coefficiemt 도상계수 ballast compactor 바라스트 콤팩터 ballasting screening machine 도상체가름기 ballastless track 무도상궤도 ballast pressure 도상압력 ballast profile  도상단면 ballast regulator 바라스트 레규레이터 ballast renewal 도상갱환 ballast rolling 도상전압 ballast section 도상단면 ballast sinking curve 도상 침하곡선 ballast stopper 자갈막이 ballast supplement 자갈보충 ballast tank 바라스트 탱크 ballast track 유도상 궤도 ballast track line 자갈선 ballast work 도상작업 ball joint 볼조인트 ball mill 볼밀 ball penetration test 구관입시험 ball test 볼관입시험 band 밴드 banded matrix 띠 행렬 band iron 띠쇠 band plate 띠판 band steel  띠판 bandwidth 띠폭 bank 제방 bank erosion 하안침식 bankhead 돌출수제공 banking 성토 banking embankment 축제 banking section 성토부 bank protection works 호안공 banquett 소단 bar 사주, 하주 1) bar bender 철근가공기 bar chair 바체어 bar coupler 철근연결기 bar cover 철근덮개 bar electrode 심 아크용접봉 bar feeder 바피더 barge 바지선, 토운선 bar grizzly 바그리즐리 barite 바라이트 bar mat 바매트 barometric levelling 기압고저측량 barrage 보 barrel polishing 바렐연마 bar splice 철근 이음 basalt 현무암 bascule bridge 도개교, 개폐교 base course restraint 보조기층의 마찰저항 base exchange capacity 염기치환용량 base failure 비탈바닥파괴, 저부파괴 base flow 기저유출 base flow discharge 기저유량 base-height ratio 기선고도비 base length  기저폭 base line 기선 base load 기저부하 base map 기본도 basement floor 지하층 base metal 모재 base metal test 모재시험 base paver 베이스 페이버 base period  기저폭 base plate 기초판, 베이스 플레이트 base rail 기준레일 base screed 베이스 스크리드 base slab 기초 슬래브 base time 기저시간 base width 기저폭 basic capacity 기본교통용량, 기본 용량 basic design 기본설계 basic freeway section 고속도로 기본(단위)구간 basic freeway segment  고속도로 기본(단위)구간 basic operating weight 기본 운항 중량 basic relief line 지성선 basic surveying 기본측량 basic wind velocity 기본풍속 basin characteristics 유역특성 basin irrigation 수반관개 basis function 기저 함수 basket type cutter head 바스킷형 커터헤드 basket work 망태공 bat 배트 batch 배치 batch box 계량상자 batcher 배쳐 batching 계량 batch mixer 배치믹서 batch plant 배치플랜트 batch precipitation curve 회분침강곡선 batch reactor 회분식 반응조 batholis 바솔리스 batholith 저반 bathymeter 수심계, 측심계 bathymetric chart  수심도 bathymetric map 수심도 bathymetry 수심측량 batten 널 batter 배터 batter board 규준틀, 기준틀 batter pile 경사말뚝 battery locomotive 축전지기관차 Bauschinger effect 바우싱거 효과 bay 만 bay estuary 하구만 bay horbor 만항 bay lake 만호 bayou 소택지 지류 BC 비씨 beach 해변, 해빈 beach accretion 해빈 퇴적, 해안 퇴적 beach berm 단구 beach erosion 해빈 침식, 해안 침식 beach fill 사빈매축 beach maintenance 해빈 유지 beach nourishment 양빈, 해빈 조성 beach recession 해안 후퇴 beach regression 해안선 후퇴, 해안 후퇴 beach sand 해사 beacon 점멸등 bead 비드 bead crack 비드균열 beam 들보 beam bridge 들보교 beam cohesiometer 빔 코히죠메타 beam-column 보-기둥 bearing 지압 bearing area 지압면적 bearing bolt 지압볼트 bearing capacity 지지력 bearing capacity factor 지지력계수 bearing of track 궤도부담력 bearing pile 지지말뚝 bearing strength 지압강도 bearing stress 지압 응력 bearing support 받침 bearing wall type structure 벽식구조 bear trap weir 곰덫웨어, 기복웨어 bedding plane 층리면 bed load 소류사, 하상유사 bed load feeder 소류사공급기 bed load rate 소류사율 bed load sampler 소류사채취기 bed load transport 소류사운송 bed material sampler 하상물질채취기 bed materrial 하상물질 bed mortar 깔모르터 bed plate 받침판 bedrock 기반암 bed slope 하상경사 beginning of transition curve 완화곡선 시점 bell and flaser signal 건널목 경보기 bell and spigot joint 벨앤드스피것이음 bellows expansion joint 벨로우즈 신축관 이음 belt conveyor 벨트콘베이어 belt finishing 벨트 마무리 belt line 환상선 belt pressor 벨트프레서 belt truss 벨트트러스 bench 벤치 bench cut 계단식굴착, 벤치커트, 층따기 bench cut method 벤치식 굴착공법 bench mark 고저기준점, 수준점 bench mark data 수준점성과표 bench mark drop pit 수준표 bench mark post  수준표 bend flow 만곡흐름 bending 휨 bending member 휨 부재 bending moment 휨 모멘트 bending moment diagram 휨 모멘트도 bending schedule 배근도 bending strength 휨 강도 bending stress 휨 응력 bending test 굽힘시험, 휨 강도시험 bend level 밴드레벨 bend loss 만곡손실 bend pipe 굽은관 bend radius 만곡반경 benefit cost analysis 편익비용분석 benefit-cost ratio 편익비용비 benkelman beam 벤켈만 빔 Benkelman beam deflection 벤켈만빔 변형량 Benoto excavator 베노토굴착기 Benoto pile 베노토말뚝 benquette 둑턱 bent 가구 benthos 저생생물 bentonite 벤토나이트, 시추니토 bent up bar 절곡철근 berlinen 베르린넨 berm 둑턱, 소단 Bernoulli’s theorem 베르누이정리 berth 버드 Bessel spheroid 베쎌타원체 best efficient hydraulic section 수리상 유리한 단면 best hydraulic section 최적수리단면 Betti’s theorem 베티 정리 bevel 베벨 bevel angle 베벨각 bevel cut 베벨각 절단 biaxial stress 이축 응력   bicycle path 자전거도 bid 입찰서 bidder 입찰자 bidding 입찰 billet 빌렛 billet steel 빌렛강 bin 빈 binder 결합재 binder course 결합층, 중간층 binding wire 결속선, 긴결철선 bioassay 생물시험법 biochemical oxidation 생화학적 산화 Biochemical Oxygen Demand 생화학적 산소요구량 biodegradability 생분해성 biodegradable detergent 생분해성 세제 biogas 바이오가스 biological filtration 생물학적 여과 biological half-life 생물학적 반감기 biological index of pollution 생물학적 오염지표 biological oxidation 생물학적 산화 biological process 생물학적 방법 biological purification 생물학적 정화 biological slime 생물막 biological solids 생물학적 고형물질 biological treatment 생물학적 처리 biomagnification 생물학적 농축 biomass 바이오매스 biota 생물상 biotite 흑운모 bird eye view 조감도 bit 비트 bit gauge 비트게이지 bitumen 비투멘, 역청 bitumen penetration macadam method 역청침투식공법 bituminous cement 역청시멘트 bituminous material 역청재료 bituminous stabilization 역청안정처리공법, 역청안정공법 black base 블랙베이스, 아스팔트 기층 black mica 흑운모 black pipe 흑철관 blacksmith 대장공 blade 날판, 블레이드 blain apparatus 블레인장치 blain fineness 블레인분말도 blain test 블레인(공기투과)시험 blanket 블랭킷 blanket test 블랭킷 테스트 blanking die 제거금형 blast furnace 고로, 용광로 blast furnace cement 고로시멘트 blast furnace slag 고로광재, 고로슬래그 blast-furnace slag cement 고로슬래그 시멘트 blast-furnace slag coarse aggregate 고로슬래그 굵은골재 blast-furnace slag fine aggregate 고로슬래그 잔골재 blasting 발파 blasting fuse 도화선 blasting hole 발파공 blasting influence zone 발파 충격대 blasting machine 발파기 blast method 블라스트공법 blast pad 방풍패드 blast hole drill 블라스트홀드릴 bleaching powder 표백분 bleeding 블리딩 bleeding capacity 블리딩량 bleeding ratio 블리딩률 blended cement 혼합시멘트 blind drain 맹하수구 blinding 블라인딩 blind patch 가림판 blind shield 밀폐식 쉴드 blind siding 차막이선 blister 블리스터 blistering 블리스터링 block 블록, 종횡접합모형 block adjustment 블록조정, 종횡접합모형조정 blocking timber 버팀목 block out 블록아웃 block pavement 블록포장, 석괴포장 block sample 블록시료 block section 폐색구간 block sequence 블록 용접법 block signal 폐색신호기 block system 폐색장치 block tie 블록침목 block work 블록공사, 차단공사 block yard 블록야드 bloom 블룸 blower 블로워, 송풍기 blow form 블로우폼 blow hole 기공, 블로우홀 blowing 블로잉 blown asphalt 블론아스팔트 blown sand 비사 blow pipe 토치 blow up 블로우 업 blue-green algae 남조류 blueing 블루잉 blue mud 청니 blue shortness 청열취성 BM 비엠 board butt joint 보드버트조인트 bob 다림추 body force 체력 body wave 체적파 bogie 대차 bogie car 보기차 boiler 보일러 boiler cleaning compound 보일러청정제 boiler efficiency 보일러효율 boiler feed water 보일러용수 boiling of sand 분사 bolt 볼트 bolt axial force 볼트 축력 bolted connection 볼트 연결 bolted rigid 조립크로싱 bolt for steel structure 강구조용볼트 bolt joint 볼트 이음 bolt repair 볼트 보수 bolt with pitch diameter body 유효지름볼트 bond 본드 bond area 부착면적 bond breaker 부착방지제 bonded flux 본디드 플럭스 bonded joint 본드이음매 bonded tendon 부착된 텐던 bond failure 부착파괴 bonding agent 부착제 bonding layer 이음모르터층 bond plaster 본드플라스터 bond prevention 부착방지 bond strength 부착강도 bond stress 부착응력 bonzano splice plate 본자노이음매판 boom 붐 border spring 경계샘 bore 단파 bored pile 착공말뚝, 현장타설말뚝 bored precast pile 매설말뚝 borehole extensometer 지중침하계 borehole inclinometer 공내경사계 borehole load test 공내재하시험 boring 보링, 시추, 시추조사, 천공 boring log 보링주상도 boring machine 보링기 boring rod 보링로드 boring ship 보링선 boron loaded concrete 붕소콘크리트 borrow pit 취토장, 토취장 bottleneck 병목, 애로구간 bottom dump wagon 밑덤프카 bottom end 밑마구리 bottom heading 저부 선진도갱 bottom hopper barge 밑문토운선 bottom material 저질 bottom width 저폭 boulder 전석, 호박 돌 boulder foundation 호박돌기초 boundary condition 경계조건 boundary layer 경계층 boundary post of track maintenance gang 선로반 경계표 boundary Reynolds number 경계 레이놀즈수 boundary surface model 경계면 모형 bound water 결합수 bowl 보울 bowl mixer 보울믹서 bowstring truss 궁현 트러스 bow’s notation 바우 기호법 box beam 상자형 들보 box column 박스기둥 box culvert 상자형암거 box girder 박스거더 box-hopper type spreader 박스형 스프레더 boxing welding 돌림용접 box model 박스모델 box out 박스아우트 box section 상자형단면 BPN 비피엔 brace 가새, 브레이싱 braced arch 브레이스드 아치 braced column 횡방향 지지기둥 braced wall 토류판, 흙막이벽 brace strut 니 브레이스 bracing 가새, 버팀대, 브레이싱, 토류, 흙막이 bracket 브래킷 brackish lake 기수호 brackish water 기수 braided channel 망상수로 braided river 망상하천 braker 브레이커 brake truss 브레이크 트러스 braking 제동 braking load 제동하중 branching pipe line 다지관수로 branch line 지선 branch of station 분기정거장 brass 황동 Brazilian test 브라질식인장시험 brazing and soldering 납땜 breakdown rolling 초기전압 breaker 쇄파 breaker depth 쇄파 수심 breaker height 쇄파고 breaker line 쇄파선 breaker zone 쇄파대 breaking distance 제동거리 breaking joint 막힌눈줄 breaking point 파괴점 breaking stress 파괴 응력 breaking wave height 쇄파고 break point chlorination 분기점 염소주입, 파과점 염소주입 breakthrough curve 격변곡선 breakthrough point 파과점 breakwater 방파제 brearing capacity of road bed 노반부담력 breccia 각력암 brick 벽돌 brick layer 벽돌공 brick masonry 벽돌쌓기 brick pavement 벽돌포장 brick in mastic water proofing 브릭인매스틱방수공 bridge 교량 bridge crane 교량형크레인 bridge deck 교량상판 bridge-decks surfacing 교면포장 bridge floor  교량상판 bridge guard rail 교량가드레일 bridge reamer 브리지리머 bridge seat 교좌면 bridge surveying 교량측량 bridge tie 교량침목 brine 브라인 briquet 브리키트 brittle failure 취성 파괴 brittleness 취성 brittleness index 취성도 brittle stone 푸석돌 broad crested weir 광정웨어 broad gauge 광궤 broad gauge railway 광궤철도 broad leaved tree 활엽수 broken back curve 브로큰 백 커브 broken base 파저 broken stone 깬조약돌 bromine 브롬 broom 브룸 broom finish 브룸마무리, 빗자루마무리 brooming 빗자루마무리 brown coat 브라운코트 brown out 브라운아웃 Brunell hardness 브리넬경도 brunt aggregate 소성골재 brush cutter 브러시컷터 brush painting 솔칠 BTC 비티씨 bubble gauge 기포수위계 bubble tube 기포관 bucker 버커 bucket 버킷 bucking of rail 레일장출 buckling 장출, 좌굴 buckling coefficient 좌굴 계수 buckling load 좌굴 하중 buckling resistanse 좌굴방지판 buckling strength 좌굴 강도 buckling stress 좌굴 응력 buffer rail 완충레일 buffer solution 완충용액 buffer stop 차막이 buffeting 버페팅 building architecture 건축물 building area 건축면적 building construction 건축시공 building line 건축선 building lot 대지 building of railway 철도부설 building-up welding 덧살용접 buildup welding 살붙이기 용접 build-up welding(of rail end) 끝닳음용접 built-up crossing 크로싱조립 built up section 조합단면 built up type scaffolding 조립비계 built up beam 겹보, 조립보 built up crossing 조립가새 built-up(common) frog 조립크로싱 bulb angle 구슬엘형강 bulb flats  벌브평형강 bulb pile 구근말뚝 bulb plates 벌브평형강 bulidup 수위상승 bulk agecific gravity in saturated 표건비중   surface dry bulk cement 무포대시멘트, 벌크시멘트 bulk density 체적밀도 bulking 벌킹, 팽화 bulking sludge 벌킹슬러지, 팽화 슬러지 bulk modulus 체적변형계수 bulk modulus of elasticity 체적탄성계수 bulk specitic gravity 체적비중 bulk strain 체적 변형 bull head rail 우두레일 bump 감속턱 bundle adjustment 광속조정 bundled bars 다발철근 buoy 부표 buoyancy 부력 buoyant force 부력 buoyant jet 부력제트 buried conduit 매설관 burn cut 번-커트 bursting 파열 1) bus bay 버스정차대 bush 부쉬 bush hammer 도드락망치 bush hammered stone finish 도드락다듬 bush hammer finish 부시해머마무리 bush hedge 퇴사 울타리 bus lane 버스차선 bus location system 버스로케이션 시스템 bus priority lane 버스우선차선 bus priority system 버스우선체계 butterfly valve 버터플라이 밸브 buttering 버터링 butt joint 맞대기이음, 맞댄이음, 맞댄줄눈 buttress 부벽 buttress dam 부벽식댐 buttressed type retaining wall 앞부벽식 옹벽 butt seam welding 버트 심 용접 butt weld 맞대기용접 butt-welded steel tubes 단접강관 bypass channel 전환수로 by-pass highway 바이패스 bypass pipe 측관 byssiness track 전용선 cabinet system 케비넷 방식 cable 케이블 cable clip 케이블클립 cable crane 케이블크레인 cable erection 케이블식가설법 cable railway 강삭철도 cable saddle 케이블새들 cable shoe 케이블슈 cable stayed bridge 사장교 cable suspension transporter 삭도반기 cable trench 케이블트렌치 cable way 삭도 caboose car 차장차 cab signal 차내신호장치 cadastral map 지적도 cadastral supplementary control station 지적용도근점 cadastral surveying 지적측량 cadmium 카드뮴 caisson 케이슨 caisson breakwater 케이슨식 방파제 caisson disease 케이슨병 caisson foundation 케이슨기초 caisson pile 케이슨말뚝 caisson yard 케이슨야드 cake filtration 표면여과 calcite 방해석 calcium aluminate cement 칼슘알루미네이트시멘트 calcium carbonate 탄산칼슘 calcium chloride 염화칼슘 calibrated wrench 임팩트 렌치 calibration 검정, 캘리브레이션 calibration curve 검량선 calibration tank 검정수조 California kneading compactor 니딩콤팩터 calling-on signal 유도신호 callweld drill 칼웰드드릴 calmness 정온도 calorie 칼로리 calorific value 발열량 camber 솟음 camera station 촬영점 cameron effect 카메론효과 canal 수로, 운하 canal harbor 운하항 canal headwork 수로전환공 canal port 운하항 canal reach 운하구간 canal trimmer 캐널트리머 canif mixer 카니프믹서 canilever sheet pile 캔틸레버널말뚝 canopy interception 수관차단 cant 캔트 canted tie plate 경사타이플레이트 cantilever beam 외팔보 cantilever bridge 캔틸레버교 cantilever erection 캔틸레버식 가설 cantilever retaining wall 역 티형 옹벽 cantilever span 캔틸레버 스팬 cantilever wall 캔틸레버 옹벽 canting 캔트부설 canyon 계곡 capacity 용량 capacity factor 설비이용률 capacity of hump 험프의 작업능력 cap cables 캡케이블 capillary action 모세관현상 capillary fringe or capillary zone 모세관수대 capillary pressure 모관압 capillary rise 모관상승고 capillary rise height 모세관상승고 capillary water 모관수, 모세관수 capillary wave 표면장력파 capping 캡핑 capping stone 갓돌 car arrangement track 조체선 carbene 카벤 carbide 탄화물 carbohydrate 탄수화물 carbonaceous BOD 탄소성비오디 carbon arc cutting 탄소가스절단 carbon assimilation 탄소동화작용 carbonate 탄산염 carbonate hardness 탄산경도 carbonation 탄산화 carbonation of concrete 콘크리트탄산화 carbon dioxide 탄산가스 carbon dioxide laser 탄산가스레이저 carbon equivalent 탄소당량 carbon fiber 탄소섬유 carbonic acid 탄산 Carboniferous (period) 석탄기 carbonizing 침탄 carbonizing flame 탄화염 carbon monoxide 일산화탄소 carbon monoxide poisoning 일산화탄소중독 carbon steel 탄소강 carbon steel tubes for general structura 일반구조용 탄소강 강관 carcinogen 발암성 물질 car following theory 추종이론 car gauge 차량한계 cargo apron 화물계류장 cargo area 화물지역 cargo handling 하역 cargo terminal 화물 터미널 car limit 차량한계 car limit post 차량접촉한계표 car load drive way 화물통로 carpenter 목공 carpenter’s work 목공사 carpet coat 카펫 코우트 carpetcoat thin surfacing 박층포장 carpool 승용차 같이타기, 카풀 car receiving capacity of shunting yard 차량기지 수용능력 carriage area 차도부 carriageway 차도 carrier 운송자 carry all 캐리올 carrying capacity 선로용량 carry-over 캐리오버 car shed 차고 car stopper 채움재 car stop scotch block 차륜막이 cartography 지도학 car warning device 차내경보장치 cascade 계단수로 cascade aeration 다단폭기 case frame 상자틀 case hardening 표면담금질 casing 케이싱 casing tube 케이싱튜브 Castigliano’s first theorem 카스틸리아노의 제 1 정리 Castigliano’s second theorem 카스틸리아노의 제 2 정리   casting 주물, 주조 cast-in-place 현장타설말뚝 cast-in-place concrete 현장치기콘크리트 cast in place concrete pile 현장치기콘크리트말뚝 cast-in-situ 현장타설말뚝 cast iron 주철 cast iron pipe 주철관 cast steel 주강 catch basin 수사지 catch canal drain 승수로 catch drain 승수거 catching side 안전측선 catchment area 유역면적, 집수구역 catch siding safety siding 피난선 catenary 전차선 caterpillar crane 캐터필러 크레인 caterpillar gate 캐터필러 게이트 cathodic protection 음극방식 cating installation of rail 레일경좌 cation exchange resin 양이온교환수지 cation interfacial active agent 양이온계면활성제 cat walk 캣 워크 cat’s eye 캐쓰아이 caulking 코킹 caulking hammer 코킹해머 caulking set 코킹세트 caution signal 주의신호 cave-in 낙반 caving erosion  하안침식 cavitation 공동현상 cavitation index 공동지수 CBR 씨비알 ceiling stream 천정천 celestial coordinate system 천구좌표계 cellular block 셀류라블록 cellular coffer dam 셀형가물막이댐 cellular concrete 기포 콘크리트 cellular construction 속빈콘크리트제조법 cement-aggregate ratio 시멘트-골재비 cementation 고결작용 cementation process 시멘테이션공법 cement concrete pavement 시멘트 콘크리트 포장 cement content 시멘트함유량 cement dispersing agent 시멘트분산제 cement gel 시멘트겔 cement grouting 시멘트고결공법, 시멘트주입 cement gun 시멘트건 cementite 시멘타이트 cement kiln 시멘트로 cement lining pipe 시멘트 라이닝관 cement macadam-mix 시멘트 머케덤공법 cement macadam mix pavement method 시멘트 머캐덤믹스 포장공법 cement macadam pavement 시멘트 머캐덤 포장 cement mortar 시멘트모르터 cement paint 시멘트페인트 cement paste 시멘트풀 cement plaster 시멘트플라스터 cement rock 시멘트 록 cement setting test 시멘트응결시험 cement stabilization 시멘트 안정처리, 시멘트안정공법 Cenozoic(era) 신생대 center core type of rockfill dam 중앙차수벽식댐 center frog of crossing 케이자크로싱 centering 구심, 중심맞추기 center line 중심선 center line of track 궤도중심선 center line surveying 중심선측량 center of buoyancy 부심 center of flexure 전단 중심, 휨 중심 center of gravity 중심 center of moment 모멘트 중심 center of track 궤도중심 center overflow type spillway 중앙월류형여수로 centistokes 센티스토크스 central batching and on-site mixing 중앙계량 현장 혼합방식 central datum 중부원점 central heading 중앙도갱, 중앙부 선진도갱 central mixed concrete 중앙혼합콘크리트, 센트럴믹스트 콘크리트 central mixing 중앙 혼합소 방식 central mixing plant 중앙혼합플랜트 central plant mixing 중앙플랜트 혼합방식 central polygon 유심삼각망 central projection 중심투영 central traffic control system 열차운전 집중제어 장치 centrifugal cast iron pipe 원심력주철관 centrifugal concrete pile 원심력콘크리트말뚝 centrifugal force 원심력 centrifugal jiggings 원심력다지기 centrifugal load 원심 하중 centrifugally cast steel pipe 원심력주강관(원심주조강관) centrifugal pump 원심펌프 centrifugal reinforced concrete pipe 원심력철근콘크리트관 centrifuge method 원심분리법 centroid of area 단면의 도심, 단면의 중심 ceramic bond 세라믹본드 ceramic coating 세라믹 코팅 ceramic tool 세라믹 공구 cermet tool 서메트 공구 chain 사슬, 체인 chain block 체인블록 chain bridge 사슬식적교 chain cable 체인케이블 chain curtain 체인커튼 chain hoist 체인호이스트 chain intermittent fillet welding 병렬단속필렛용접 chain steel 체인용강 chain welding 병렬용접 chair 굄 chair leg crane 합장기중기 chalk 초크 chalking 초킹 chamber surge tank 수실조압수조 chamfering 면치기 chamfer strip 면따기스트립 change interval 현시 간격 change of tide 조류 반전 channel 관수로, 수로, 착수대 channel constriction 수로수축 channel contraction  수로수축 channel control 수로조절 channel cross-section 수로횡단면 channel curvature 수로곡률 channel density 수계밀도 channel detention 하도지체 channel grade 수로경사 channel improvement 하천개수 channelized intersection 도류식 교차 channelizing island 도류도 channel lining 수로피복 channel margin 수로가장자리 channel meandering 수로사행 channel precipitation 수로상강수 channel profile 수로종단도 channel revetment 수로호안 channel slope  수로경사 channel steel section 디귿형강 channel storage 하도저류량 channel transition 수로변이, 수로천이 channel width 수로폭 charge 장약 Charpy test 샬피 시험 chassis 섀시 chatter-bar 채터 바 check baseline 검기선 check bit 체크비트 check dam 사방댐 checkered steel plate 무늬강판, 줄무늬강판, 첵커드 플레이트 checking 체킹 checking survey 점검측량 check valve 역류방지밸브 chemical adsorption 화학적 흡착 chemical coagulation 화학적 응집 chemical grouting 약액 주입, 케미컬그라우팅 chemical grouting method 약액 주입공법 chemical grouting with water solubility 용액형 그라우팅 chemical insect control 화학적 방제 chemical oxidation 화학적 산화 chemical oxygen demand 화학적 산소요구량 chemical precipitation 약품침전, 화학적 침전 chemical prestressing 케미컬프레스트레싱, 화학적 프리스트레싱 chemical treatment 화학적 처리 chemical unit process 화학적 단위공정 chemical weathering 화학적풍화 chemoautotrophs 화학무기영양 미생물 chemoheterotrophs 화학유기영양 미생물 chemotrophs 화학영양 미생물 chert 규질암 chevron pattern 쉐브론 패턴 Chezy’s formula 쉐지공식 chill car 냉장차 chipping 치핑 chipping hammer 치핑해머 chip resistance 내충격성 chips 칩 chip spreader 치프 스프레더 chisel 정 chiseled work 정다듬 Chi-square test 카이 자승검정 chloramine 클로라민 chlorella 크로렐라 chlorinator 염소주입기 chlorine demand 염소요구량 chlorine ion 염소이온 chlorine poisoning 염소중독 chlorine treatment 염소처리 chlorite 녹니석 chlorophyll 클로로필 choke aggregate 채움골재 chopping bit 초핑비트 chopping sea 삼각파 chord member 현재 chromatography 크로마토그래피 chromium 크롬 chromium compounds 크롬화합물 chronic toxicity 만성독성 chuck nut 잠금너트 churn drill 천드릴 chute 급경사수로, 슈트 chute block 슈트블록 CIQ 씨아이큐 circling guidance light 선회등 circular arch 원형 아치 circular curve 원곡선 circular foundation 원형기초 circular frequency 회전 진동수 circular load 원형하중 circular tunnel 원형 터널 circulation 순환 circumferential stress 원주 방향 응력 cistern 수조 city surveying 시가지 측량 civil engineering 토목 공학 clad steel 크래드 강 clad steel pipe 크래드 강관 clamp 꺽쇠 clamp bar 크램프바 clamp of rail 레일체결장치 clamp screw 고정나사 clam shell 클램셸 clapotis 중복파 class A watch 제1종 경계 class B watch 제2종 경계 class C aircraft 씨급 항공기 class D aircraft 디급 항공기 classification by direction arrangement 방향별 분별배선   of lines track layout classification line 조차선 classification of road 도로의 분류 classifier 분급기 class of road way  선로등급 class of track 선로등급, 선로종별 clastic rock 파쇄암 clastics 쇄설물 clay 점토 clay binder 점토결합재 clay digger 점토굴착기 clay grouting 점토그라우팅 clay mineral 점토광물 cleaning 세정 clean river 청정하천 clearance 건축한계, 선로유효장, 유격, 통과높이, 틈새 clearance lost time 소거손실시간, 일소손실시간 clearance of track 차량접촉한계 clearance time 소거시간, 일소시간 clearhead 형하고, 형하공간 clearing and grubbing 벌개제근 clear signal 진행신호 clear span 순경간 clear way 정지구역 clear well 정수지 clear zone 장애물제거구역 cleat 크리트 cleavage 벽개 cleavage fracture 벽개파면 client 도급인 climate 기후 climate year 기후년 climatic change 기후변화 climatic chart 기후도 climatic forecast 기후예보 climatic observatory 기후관측소 climatic region 기후대 climatic station  기후관측소 climatology 기후학 climax vegetation 극상식생 climbing crane 클라이밍 크레인 climbing lane 등판차선, 오르막 차선 clinker 클링커 clinometer 주향경사계, 크리노미터 clinometer or clinocompass 지질콤파스 clip bolt 크립볼트 closed circuit grouting 순환식그라우팅 closed end pile 선단폐쇄말뚝 closed floor 폐도상 closed-loop traverse 폐합다각형 closed stirrup 폐합스터럽 close range photogrammetry 근거리사진측량 closure divergence 왕복차 clothoid 클로소이드 clothoid beginning 케이에이 clothoid curve 클로소이드곡선 clothoid end 케이이 clothoid ruler 클로소이드 곡선자 cloud amount 구름량 cloud seeding 구름씨뿌리기 cloverleaf interchange 클로버형 인터체인지 cnoidal wave 크노이드파 coach yard 객차조차장 coagulant 응집제 coagulant aid 응집보조제 coagulation 응집 coal 석탄 coaling facilities 급탄설비 coal tar 콜타르 coarse aggregate 굵은 골재 coarse-graded asphalt concrete 조립도 아스팔트콘크리트 coarse grained soil 사력질토, 조립토 coarse sand 굵은모래 coast 연안, 해안 coastal accretion 해안 퇴적 coastal area 해안 지대 coastal basic map 연안해역기본도 coastal climate 해안 기후 coastal engineering 해안공학 coastal erosion 해안 침식 coastal fringe 해안 지대 coastal harbor 연안항 coastal lake 해안호 coastal levee 해안 제방 coastal plain 해안 평야 coastal pollution 해안 오염 coastal protection 해안 보존 coastal recession 해안 후퇴 coastal region 해안 지대 coastal regression 해안 후퇴 coastal sand dune 해안 사구 coastal structures 해안 구조물 coastal survey 해안 측량 coastal terrace 해안 단구 coastal topography 해안 지형 coastal zone 해안 지대 coast of emergence 융기 해안 coast of submergence 침강 해안 coated macadam 혼합식머캐덤 coated type aggregate 비조립형골재 coating 코팅 coating test 부착 시험 cobble 조약돌 cocurrent line 등조류선 COD 시오디 coefficient of active earth pressure 주동토압계수 coefficient of compressibility 압축계수 coefficient of consolidation 압밀계수 coefficient of contraction 단면수축계수, 수축계수 coefficient of curvature 곡률계수 coefficient of determination 결정계수 coefficient of discharge 유량계수 coefficient of earth pressure 토압계수 coefficient of earth pressure at-rest 정지토압계수 coefficient of friction 마찰 계수, 미끄럼 마찰계수 coefficient of hydraulic conductivity 수리전도계수 coefficient of layer equivalency 등치환산계수 coefficient of linear expansion 선팽창계수 coefficient of permeability 투수계수 coefficient of river-regime 하상계수 coefficient of roughness 조도계수 coefficient of runoff 유출계수 coefficient of secondary consolidation 이차압밀계수 coefficient of skid-resistance 미끄럼저항계수 coefficient of stability 안정계수 coefficient of subgrade reaction 지반반력계수 coefficient of thermal expansion 열 팽창 계수 coefficient of uniformity 균등계수 coefficient of velocity 유속계수 coefficient of viscosity 점도계수, 점성계수 coffer dam 가물막이댐, 코퍼 댐 coffering 물막이공 COGO 코고 cohesiometer 코히쇼미터 cohesion 점착력 cohesionless soil 비점성토 cohesive soil 점성토 cold application 상온살포 cold asphalt 콜드 아스팔트 cold bin 콜드 빈 cold crack 저온균열 cold cracking 저온균열 cold current 한류 cold drawing 냉간뽑아내기 cold drawn steel 냉간압연강 cold drawn wire 냉간인발강선 cold elevator 콜드엘레베이터 cold feeder 콜드피더 cold joint 콜드 조인트 cold mixing and laying 상온 혼합식공법 cold penetration macadam 상온침투식공법 cold punched nut 상온펀칭너트, 펀칭너트 cold resistant steel 내한강 cold shortness 냉간취약성 cold-storage 냉장 cold weather concrete 한중콘크리트 cold worked deformed bar 냉간가공이형철근 cold worked steel 냉간가공강 cold working 냉간가공 cold applied road tar 상온용포장타르 cold rolled screw 전조나사 coliform group 대장균군 collapsing soils 붕괴성 흙 collar joint 칼라이음 collar plate 컬러플레이트 collector street 집산로 collimation 콜리메이션 collimation axis 시준축 collinearity condition 공선조건 collision diagram 사고현황도 colloid 콜로이드 colloidal concrete 콜로이드콘크리트 colloidal grout 콜로이드그라우트 colloidal mixer 콜로이드믹서 colluvial deposit 붕적토 color 색도 color cement 컬러시멘트 colored aggregate 유색골재 colorimetric analysis 비색분석 color index 유색광물 함유도 coloring admixture 착색제 colorless mineral 무색광물 color pavement 컬러포장 coloured concrete 착색콘크리트 coloured pavement 유색포장 colour light signal 색등식 신호기 column 기둥 columnar joint 주상절리 column capital 기둥머리 column interaction diagram 기둥상관도 column strip 주열대 comber 선류 combination column 조합기둥 combined aggregate grading 혼합골재입도 combined available residual chlorine 결합잔류염소 combined dredger 복합형준설선 combined footing 복합기초 combined gradation 합성입도 combined loads 조합하중 combined sewer 합류식하수관거 combined spread footing 연결확대기초 combined stress 조합 응력 combined traverse 결합다각형, 결합트래버스 combined type bearing support 복합판 combustion control 연소관리 combustion efficiency 연소효율 combustion gas 연소가스 combustion on low-oxygen 저산소연소 commercial speed 표정속도 comminutor 분쇄기 committee for dispute conciliation 건설업분쟁조정위원회   of construction common brick 오지벽돌 common tie 보통침목 common track 보통궤도 communication office 전신실 community area 공항 배후지원 단지 compacted layer thickness 마무리 두께 compaction 다짐 compaction by watering 물다짐 compaction curve 다짐곡선 compaction effort 다짐일 compaction energy 다짐에너지 compaction equipment 다짐기계 compaction factor 다짐계수 compaction fill 다짐흙쌓기 compaction method 다짐공법 compaction pile 다짐말뚝 compaction test 다짐시험 compactor 콤팩터 comparator 컴퍼레이터 compartment 감조구역 compass 나침반, 컴파스 compass rule 컴파스법칙 compass surveying 나반측량, 컴파스 측량 compensated footing 보상기초 compensated grade 보정구배 compensating error 상차 compensating grade 보정구배 compensation current 보류 compensator 자동보상장치 competitive bid 경쟁입찰 complementary energy 공액 에너지, 상보 에너지 complementary solution 상보해 completed part 기성부분 completely mixing activated sludge 완전혼합활성슬러지법 completely weathered rock 완전 풍화암 complete overflow 완전월류 complete penetrated welding 완전용입용접 completion date 준공일 complex truss 복잡 트러스 component current 분조류 component of force 분력 component wave 성분파 composite beam 합성보 composite beam for live load 활하중 합성보 composite breakwater 혼성식 방파제 composite column 합성기둥 composite concrete 합성콘크리트 composite construction 합성공법, 합성 구조 composite grade 합성구배 composite tie 조합침목 composition 조성 composting 퇴비화 compound cross section 복합단면 compound curve 복합곡선 compounded slip surface 복합활동면 compound rail 복합레일 compound truss 복합 트러스 compressibility 압축성 compressible fluid 압축성유체 compression 압축 compression bar 압축철근 compression curve 압축곡선 compression index 압축지수 compression member 압축부재 compression test 압축시험 compressive flange 압축플랜지 compressive force 압축력 compressive strength 압축 강도 compressor 콤프레셔 compromised rail 중계레일 compromise joint 중계이음매 computer aided design 자동설계 computer controlled signal system 컴퓨터 제어 신호체계 concentrated load 집중 하중 concentration 농도 conceptual hydrological model 개념적 수문모형 concordant tendon 컨코던트텐던 concrete 콘크리트 concrete arch dam 콘크리트아치댐 concrete block pavement 콘크리트 블록포장 concrete block pitching 콘크리트블록붙이기 concrete breaker 콘크리트파쇄기 concrete bucket 콘크리트버킷 concrete conveying pipe 콘크리트수송관 concrete dam 콘크리트댐 concrete distributing tower 콘크리트배송탑 concrete finisher 콘크리트 피니셔 concrete finishing machine 콘크리트마무리기계 concrete gun 콘크리트건 concrete mixer 콘크리트믹서 concrete of dry consistence 된비빔콘크리트 concrete pavement 콘크리트포장 concrete pavement slab 콘크리트포장슬래브 concrete paver 콘크리트페이버 concrete pile 콘크리트말뚝, 콘크리트파일 concrete placer 콘크리트타설기 concrete plant 콘크리트플랜트 concrete pump 콘크리트펌프 concrete pumpablity 콘크리트펌프성능 concrete saw joint sawing machine 콘크리트 컷터 concrete shooting 콘크리트슈팅 concrete slab with wir mesh 철망 콘크리트 포장 concrete spraying 콘크리트뿜칠 concrete spreader 콘크리트 스프레더 concrete tie 콘크리트침목 concrete tie track 콘크리트침목궤도 concrete vibrating joint cutter 콘크리트 진동 줄눈 concrete vibrating machine 콘크리트진동기계 concrete worker 콘크리트공 concreting 콘크리트치기 concreting equipment 콘크리트장비 condencer tube 응축관 conditional observation 조건부관측 condition diagram 교통시설현황도 condition equation 조건방정식 conditions of contract 계약조건 conductor car 차장차 conductor pipe 컨덕터 파이프 conductor rail 제3레일 cone bearing capacity 콘 지지력 cone bolt 콘볼트 cone crusher 원뿔형분쇄기 cone crusher 콘크러셔 cone index 콘지수 cone of depression  수위강하곡선 cone of exhaustion  수위강하곡선 cone of influence 수위강하곡선 cone penetrameter 콘 관입시험기 cone penetration test 콘 관입시험 cone resistance 콘 관입저항 confined aquifer 피압대수층 confined concrete 콘파인드콘크리트 confined ground water 압력지하수 confining pressure 구속압력 conflict 상충 confluence 합류점 conformal projection 등각투영 conglomerate 역암 conical mixer 콘믹서, 원추형믹서 conical surface 원추표면 conjugate beam 공액 들보 conjugate-beam method 공액 들보법 conjugate depth 공액수심 conjunctive use 공용 connate water 동생수 connecting bar 연결용 철근 connecting gallery 연락갱 connection 접합부 conservative system 보존계 consistency 반죽질기, 컨시스턴시 consistency factor 컨시스턴시 계수 consistency index 컨시스턴시 지수 consistency limit 컨시스턴시 한계 consistency of soil 흙의 연경도 consistency test 반죽질기실험 consistent mass 연속 질량, 집중 질량 consistometer 반죽질기미터, 컨시스토미터 consolidated drained shear test 압밀배수 전단시험 consolidated ice cover 표층결빙 consolidated quick shear test 압밀급속전단시험 consolidated undrained shear test 압밀비배수 전단시험 consolidation 압밀 consolidation factor 침하도 consolidation grout 컨솔리데이션그라우트 consolidation settlement 압밀침하 consolidation test 압밀시험 constant angle arch dam 정각아치댐 constant error 정오차 constant-head permeability test 정수위투수시험 constitutive equation 구성방정식 constitutive matrix 구성 행렬 constrained modulus 구속변형계수 constraints 구속 construction 건설 constructional preseription of korea 국유철도건설규칙   national railroad construction industry 건설산업 construction joint 시공이음, 시공줄눈 construction law 건설업법 construction load 작업하중 construction machine 시공기계 construction material 시공재료 construction of railway 철도부설 construction profile and decks 강재배치도 construction project 건설사업 construction road 공사용도로 construction surveying 공사측량 construction work 건설업 constructor 건설업자, 공사시공자 consumable electrode 용극 consumable nozzle electro slag welding 소모노즐식 일렉트로 슬래그 용접 consumption use 소비수량 consumptive use 소비수량 contact bed process 접촉여상법 contact grout 콘택트그라우트 contact load 접촉유사 contact stabilization process 접촉안정화법 contact stress 접촉 응력 contact time 접촉시간 container 컨테이너 container ship 컨테이너 전용선 containment 원자로 격납용기 continental hydrology 대륙수문학 continental shelf 대륙붕 continuous beam 연속보 continuous casting 연속주조법 continuous fillet weld 연속필렛용접 continuous flow sedimentation 상류침전 continuous foundation 연속기초 continuous grading 연속입도 continuously reinforced concrete pavement 연속철근콘크리트포장 continuous mixer 연속식믹서 continuous mixing plant 연속믹싱플랜트 continuous rail frog 가동크로싱 continuous splice plate 연속 이음매판 continuous spread foundation 연속확대기초 continuous thread bolt 전나사볼트 continuous weld 연속용접 continuous weleded rail 장대레일 continuum 연속체 contour 등심선 contour interval 등고선간격 contour line 등고선 contract 계약, 도급 contract document 계약서류 contracted weir 수축웨어 contraction crack 수축균열 contraction joint 수축이음, 수축줄눈 contraction joint grouting 수축이음그라우팅 contraction of concrete 콘크리트수축 contraction stress 수축응력 contractor 시공자 contract rail 제3레일 control area 관제구 control basin 조절지 control count 보정조사 control dam 사방댐 control joint 제어이음 control map of track 선로관리도 control marking 규제표시 control point 기준점 control point surveying 기준점측량 control section 지배단면 control sign 규제표지 control tower 관제탑 control unit 컨트롤유니트 control zone 관제권 convection 대류 convection rain 이류성 강우 convective acceleration 이류 가속도 convective current 이류, 이송류 convective precipitation 대류성 강수 conventional activated sludge process 표준활성슬러지법 convergence meter 내공 변위계 convergent photograph 수렴사진 conversion of timber 마름질 converter 전로 conveyance 통수능 conveyance loss 도수손실 conveyer 콘베어 conveying water 도수 1) conveyor 컨베이어 conveyor loader 컨베이어로더 conveyor train 컨베이어열차 conway tunnel mucking machine 콘웨이 셔블 cooker 쿠커 cooling 강제냉각, 냉각 cooling coil  냉각관 cooling pipe 냉각관 cooling plant 냉각소 cooling system 냉각장치 cooling tower 냉각탑 cooling water 냉각수 coordinate system 좌표계 coordinate transformation 좌표 변환 co-phase 등조시선 coplanarity condition 공면조건 copperas chloride 염화녹반 copper pipe 구리관 copper sulfate 황산구리 coprecipitation 공침 cordon line 조사경계선 core 코어 core barrel 코어배럴 core boring 코어보링, 코어시추 core cutter 코어커터 core cutter test 코어절삭법 core diameter 봉경 core drilling 코어보링, 코어시추 core logging 코어보링, 코어시추 core method of tunnel 중앙도갱식굴착 core moment 핵심부 모멘트 core of cross section 단면의 핵 core recovery ratio 코어채취율, 코어회수율 core test 코어시험 core tube 코어 튜브 core wall 심벽 core wire 심선 corner 우각부 corner bar 귀퉁이 철근 corner stone 초석 corner stone laying ceremony 정초식 corona discharge 코로나방전 correlation analysis 상관분석 correlation coefficient 상관계수 correlogram 계열상관도 corrosion 부식 corrosion fatigue 부식피로 corrosion inhibiting admixture 녹방지제 corrosion margin 여유두께 corrosion of tie 침목부식 corrosion of timber 목재의 부식 corrosion protection 방식 corrosion resistance 내부식성, 내식성 corrosion resistance low alloy 내식성저합금강 corrugated plate 파형판 corrugated steel pipe 골강관 corrugation 골, 코르게이션 costal drift 해안 표사 cost plus fee contract 실물도급계약 co-tidal 등조차선 co-tidal chart 등조석도 cotter 코터 cotter pin 코터핀 cotton mat 면포매트 cottrell precitator 코트렐집진장치 counter current 반류 counter forted wall 뒷부벽식옹벽 counterfort retaining wall 부벽식옹벽 countersunk head bolt 접시볼트 counter sunk rivet 접시리벳 counter weight 밸런스웨이트 couple of forces 우력   coupler 연결기, 접속구, 커플러 coupler sheath 커플러 쉬스 coupling 이음 coupling pin 커플링핀 coursed random work 바닥층막쌓기 covariance 공분산 cover 덮개 cover aggregate 틈메움골재 covered electrode 피복 아크용접봉 covered open channel 복개수로 covered river 복개하천 covered wagon 유개차 covered welding electrode 피복용접봉 covering of fascine 섶덮이공 cover of filter membrane 여과막 cover plate 커버플레이트 CPM 씨피엠 crack 균열 crack arrester 균열 정지기 crack control reinforcement 균열 제어철근 cracked section 균열단면 cracking load 균열하중 cracking ratio 균열률 crack initiation life 균열발생수명 crack of tie 침목할열 crack opening displacement 균열개구변위 crack stop hole 균열정지구멍 crane 기중기, 크레인 cranked splice 이종레일 이음매 cranked splice plate 이형 이음매판 cranker 건식 crater 크레이터 crawler 무한궤도 crawler crane 무한궤도기중기, 크로러 크레인 crawler loader 크롤러로더 crawler mounted bulldozer for swamp 습지불도저 crawl speed 최대 오르막속도 craw washer 톱니 와셔 craze crack 크레이즈균열 crazing 크레이징 creep 크리프 creeping 복진 creep limit 크리프 한계 creep ratio 크리프 비 creep strain 크리프 변형도 creosorte oil 크레오소트유 creosorting method 크레오소트주입법 cresol 크레졸 crest 정부, 정점, 크레스트 crest curve 볼록 곡선 crest hump 볼록부 Cretaceous period 백악기 crevice corrosion 틈부식 crib 크립 crib work 돌망틀 crimped wire 파형철선 critical buckling load 임계 좌굴 하중, 한계 좌굴 하중 critical capillary head 한계모관수두 critical circle 임계원 critical confining pressure 한계구속압 critical damping 임계 감쇠, 한계 감쇠 critical density 임계밀도, 한계밀도 critical depth 한계수심 critical discharge 한계유량 critical flow 임계교통량, 한계류 critical flow flume 한계류수로 critical gap 임계차간시간 critical height of slope 한계사면높이 critical hydraulic gradient 한계동수구배 critical intersection control 주요교차로 제어 critical lag 임계간격 critical lane analysis 임계차선분석, 주차선 분석 critical load 한계하중 critical movement analysis 임계이동류분석, 주이동류 분석 critical path method 주공정계획법 critical slope 한계경사 critical state 한계상태 critical state line 한계상태선 critical stress 임계 응력, 한계응력 critical tractive force 한계소류력 critical uniform flow 한계등류 critical v/c ratio 임계 v/c 비 critical velocity 한계유속 critical void ratio 한계간극비 critical water depth 이동한계수심 cross arm 크로스암 cross beam 가로보, 바닥보 cross connection 오접합 cross frame 대경구 cross grain 널결 cross hair 십자선 cross hole test 공내탄성파 시험 crossing 크로싱 crossing angle 크로싱각 crossing barrier  건널목차단기 crossing guard rail 분기가드레일 crossing number 크로싱번호 crossing point 크로싱교점 crossing signal (or warnings) 건널목 경보기 crossing station 교차정차장 crossing warning sign 건널목경표 crossing zone 우각부 cross levee 가로둑 cross level gauge 수평게이지 cross over 건늠선 cross packing 가로패킹 cross section 횡단면 cross sectioning 횡단측량 cross section of rail 레일단면 cross street 교차도로 cross tunnel 횡갱 crosswalk 횡단보도 cross wave 횡파 cross wind runway 교차활주로 crowbar 쇠지레 crown 노정 crown corrosion 관정부식 crown interception 수관차단 crown line 크라운선 crown settlement 천단침하 crude oil 원유 cruising speed 순행속도 crushed rock 부순 돌 crushed sand 부순모래 crushed stone 쇄석 crushed stone ballast 깬자갈도상, 쇄석도상 crushed stone concrete 쇄석콘크리트 crushed stone dust 쇄석 다스트 crusher 쇄석기 crusher-run 크러셔런 crusher-run stone 막부순돌 crusher run aggregate 파쇄골재 crushing 파쇄 crushing of rail head 레일두부 좌궤 crushing plant 쇄석플랜트 crystalline rock 결정편암 crystallization 결정화 CTC 씨티씨 cube mixer 큐브믹서 cubical aggregate 모난골재 cubic parabola 3차 포물선 cul-de-sac 자룻길 cultural assets surveying 문화재측량 culture 배양 culvert 구교, 암거 culvert sign 구교표 cummuter air carriers 커뮤터 항공업 cumulative error 누차 cumulative rain gauge 누가우량계 curb 연석 curb parking 노상주차 curbside 승․하차대 curbstone 연석 curb shoe 웰끝날 curing 양생 curing agent 양생제 curing blanket 양생포 curing chamber 양생실 curing delay 양생지연 curing period 양생기간 curing room 양생실 curing tank 양생탱크 curling 커링 curly grain 무늬결 current curve 조류 곡선, 해류 곡선 current diagram 조류도, 해류도 current difference 조류 시차 current direction 유향 current force 해류력 current meter 유속계 current rips 조목 current velocity 유속, 해류 유속 curtain grout 커튼그라우트 curtain wall 커튼월 curvature friction 곡률마찰 curvature meter 곡률계(노면) curve compensation 곡선보정 curved beam 곡선 들보 curved bridge 곡선교 curved channel 만곡수로 curved chord truss 곡현트러스 curved turnout 곡선 분기기 curve length 곡선장 curve lining calculator 곡선정정계산기 curve post 곡선표 curve resistance 곡선저항 curve ruler method 곡선정규법 curve setting 곡선설치법 curvilinear element 곡선 형상 요소 cuspate foreland 돌출 해안 cut and cover tunnel 개착터널 cut-back asphalt 커트백 아스팔트 cut-hole 심발공 cut-off ratio 첩수로비 cut off trench 지수구, 지수도랑 cut off wall 지수벽, 차수벽 cut section 땅깍기부 cuttability 절취난이도 cutterhead 커터헤드 cutter joint 커터조인트 cutterless pump dredger 커터없는 펌프준설선 cutting 절삭 cutting edge 땅깍기칼날 cutting oil emulsion 절삭 유유제 cutting plan 절단계획 cutting shoulder 절단연 cutting strength of cable 케이블 절단강도 cutwater 물가름 cut embankment 절성토 cut off plate 지수판 CWR track 장대레일궤도 cycle 신호주기 cycle failure 주기 부족 cycle length 주기길이 cycle time 사이클타임 cyclic collapse 교번 소성 붕괴 cyclic shear test 반복전단시험 cycloidal wave 사이클로이드파 cyclone 사이클론 cyclonic precipitation 선풍형강수, 저기압성 강수 cycropean concrete 거석콘크리트 dabbed finish 잔다듬 daily maximum sewage flow 일일최대오수량 daily maximum water supply 일일최대급수량 daily mean flow 일일평균오수량 daily mean water supply 일일평균급수량 dam 댐 dam concrete 댐콘크리트 dam foundation 댐기초 dam of horizontal crest 수평마루댐 dam of inclined crest 경사마루댐 damped frequency 감쇠 진동수 damped oscillation 감쇠 진동 damped period 감쇠 주기 damped system 감쇠계 damped wave 감쇠파 damping 감쇠 damping coefficient 감쇠 계수 damping ratio 감쇠비 dampproofing 방습공 dam surveying 댐측량 danger signal 정지신호 darby 다아비 Darcy 다시 Darcy coefficient 다시계수 Darcy’s formula 다시공식 Darcy’s law 다시법칙 dash bond coat 밑바탕칠 dashpot 대쉬폿 data 데이터 database management system 자료기반관리체계 data recorder 전자야장 datum level 기본수준면, 기준면 datum line 기준선 datum of tidal level 조위 기준면 datum rail 기본레일 day mark 낮표지 DBMS 디비엠에스 dead end 데드엔드 dead end anchorage 데드엔드정착장치 dead-end station 두단식 정거장 dead end steel tower 끝철탑 dead knot 죽은옹이 dead man(anchor) 데드맨(앵커) dead section 사구간 dead storage 사수량 dead water 사수 dead weight tonnage 무게톤수 dearth water discharge amount 갈수량 dearth water level 갈수위 debris 석편 decarbonization 탈탄 decay 감쇠 decay of rail erosion of rail 레일부식 decay rate 감쇠율 dechlorinartion 탈염소 decibel 데시벨 deciduous tree 낙엽수 decision sight distance 판단시거 decisive traverse 결합다각형, 결합트래버스 deck 데크 deck barge 데크 바지선 deck bridge 상로교 decking 데킹 decking truck 대차 deck plate 데크 플레이트, 바닥판, 상판 Declaration on the Human Environment 인간환경선언 declinating pressure 편압 declination 적위 declining growth 감소성장 decomposed granite 화강풍화토 decomposition 분해 decomposition of force 힘의 분해 decompositon 화학적풍화 decontamination factor 오염제거계수 deep beam 높은 보 deep flow 심층류 deep foundation 깊은기초 deep mixing method of soil stabilization 심층혼합공법 deep notch test 디프노치 시험 deep percolation 심층침루 deep plowing 심경 deep water irrigation 심수관개 deep water wave 심해파 deep weathering 심층풍화 deep well 깊은우물, 심정 deep well method 심정공법 defensive structure against show 방설설비 defensive structure against snow drift 눈날림 방지설비 defensive structure against wave 방파설비 deflection 처짐 deflection angle 처짐각 deflection angle method 편각법 deflection curve 처짐 곡선 deflection of plumb line 연직선편차 defoaming agent 지포제 defolicant 고엽제 deformation 변형 deformation modulus 변형계수 deformation surveying 변형측량 deformation web of rail 레일복부굴곡 deformed bar 이형철근 deformed prestressing steel bar 이형 프리스트레싱 강봉 deformed prestressing wire 이형 프리스트레싱 강선 deformed tie bar 이형연결철근 degree-day 도-일 degree of compaction 다짐도 degree of congestion 혼잡도 degree of consolidation 압밀도 degree of curve 곡률도 degree of freedom 자유도 degree of kinematic indeterminacy 운동학적 부정정도 degree of redundancy 부정정 차수 degree of saturation 포화도 delay 지체 delayed failure 지연파괴 delayed rupture 지연파괴 delay time 단차 delay action detonator 지연뇌관 delivery 송출량 delivery hose 딜리버리호스, 압송 호스 delivery ratio 수송률 delta 삼각주 delta track 델타선, 삼각선 DEM 디이엠 demolisher 디몰리셔 denitrification 탈질화 dense concrete 치밀한 콘크리트 dense grade aggregate 고밀도 입도골재 dense graded asphalt concrete 밀입도 아스팔트 콘크리트 densimeter 밀도계 density 밀도 density current 밀도류 density current in estuary 하구밀도류 density flow  밀도류 density flow with mixing 혼합형 밀도류 density gauge 밀도계 density log 밀도검층 density stratification 밀도성층 denudation 노출삭박작용 deodorant 탈취제 deodorization 탈취 deoxidation 탈산 deoxygenation 탈산소 deoxygenation coefficient 탈산소계수 departure 경거 departure and arrival track 발착선 departure concourse 출발 콘코스 departure lounge 출발 대합실 departure track 출발선 dependent parallel aopproach 종속 평행 진입 depletion 감수 depletion curve 감수곡선 depletion hydrograph 감수수문곡선 depletion rate 감수율 deposited metal 용착금속 deposited metal test specimen 용착금속시험편 deposition efficiency 용착률 deposition rate 용착속도 depot 정거장 depreciation cost 상각비 depression 패임 depression storage 요지저류(량) depth-area analysis 강우량-면적해석 depth-area curve 강우량-면적곡선 depth-area-duration analysis 강우량-면적-지속기간 분석 depth contour 등심선 depth-duration curve 강우량-지속기간곡선 depth gage 심도계 depth of ballast 도상두께 depth of flooding water 담수심 depth of flow 수심 depth of frost penetration 동결심도 depth of runoff 유출고 depth of scour 세굴심 depth ratio 깊이계수 derailing point 탈선포인트 derailing switch 탈선포인트 derailment 탈선 derailment due to complex of causes 경합탈선   often interminate derailment due to wheel dropping 낙륜탈선 derrick crane 고정식크레인, 데릭 크레인 dertated sill 톱니물받이 desalination 담수화, 탈염 desalted water 탈염수 descending grade 전주구배 design aircraft 설계 항공기 design asphalt concrete 설계아스팔트량 design bending strength 설계기준 휨강도 design capacity 설계용량 design CBR 설계 CBR design criteria 설계기준 design daily maximum consumption 계획1인1일최대급수량   per capita design daily maximum sewage flow 계획일최대오수량   of track design designation 설계지정항목 design discharge 설계유량 designed daily volume 계획교통량 designed head 설계낙차 designed horse power 설계출력 design flood 설계홍수 design flood discharge 설계홍수량 design flood hydrograph 설계홍수수문곡선 design flood level 설계홍수위 design frequency 설계빈도 design hourly maximum sewage flow 계획시간최대오수량 design hourly volume 설계시간교통량 design life period 설계내용기간 design lifetime 설계수명기간 design load in case of strong wind 강풍시하중 design mean sewage flow 계획일평균오수량 design mean water consumption 계획일평균급수량 design mixing proportion 설계배합 design moment 설계모멘트 design moment strength 설계모멘트강도 design procedure 설계순서 design rainfall 설계강우량 design rainfall hyetograph 설계우량주상도 design sewage flow 계획오수량 design shear strength 설계전단강도 design speed 설계속도 design storm  설계강우량 design strength 설계강도 design stromwater flow 계획우수량 design vehicle 설계차량 design velocity 설계유속 design wave 설계파 desorption 탈착 desulfurization 탈황 detached breakwater 이안제 detail drawing 상세도 detail estimate sheet 내역명세서 detail mapping 세부도화 details 상세 detail surveying 세부측량 detector 감지기, 검지기 detector tube method 검지관법 detention 지면체류 detention pond 유수지 detention reservoir 유수지 detention time 체류시간 deterministic runoff model 확정론적 유출모형 deterministic structural analysis 결정론적 구조 해석 detonating signal 발뢰신호 detonation flame spraying 폭발용사 detonator 뇌관 detour 우회로 deval abrasion test machine 데발마모감량시험기 development 전개도 development bond stress 정착부착응력 deviatoric plane 편차면 deviatoric strain 편차 변형도 deviatoric stress 축차응력, 편차 응력 dewatering 배수 2), 탈수, 탈수공법 dewatering method 지하수위 저하 공법 dew point 노점 dew point temperature 노점온도 dew point thermometer 노점온도계 diagenesis 속성작용 diagonal bar 경사철근 diagonal crack 사인장균열 diagonal flow water turbine 사류수차 diagonal member 사재 diagonal reinforcement 사인장철근 diagonal secondary member 대각보조재 diagonal tension 사인장 dial gauge 다이알 게이지 dialysis 투석 diamond bit 다이아몬드비트 diamond boring 다이아몬드보링 diamond crossing 다이아몬드 크로싱 diamond drill 다이아몬드드릴 diamond interchange 다이아몬드형 인터체인지 diamond mesh 다이아몬드메쉬 diamond saw 다이아몬드톱 diamond secondary member 대변보조재 diaphragm 격벽, 다이아프램 diaphragm pump 다이아프램펌프 diapositive 투명양화 diatom  규조토 diatomaceous earth 규조토 diatomaceous earth filter 규조토 여과기 diatoms 규조류 diazinon 다이아지논 dicalcium silicate 규산이석회 die burn 다이번 diesel electric locomotive 디젤전기기관차 diesel hammer 디젤해머 diesel locomotive 디젤기관차 diesel railway 내연기철도 diesel shovel 디젤셔블 diesel electric shovel 디젤전기셔블 difference of observation 관측차 differential manometer 시차액주계 differential rectification 미분편위수정 differential settlement 부등침하 differential surge tank 차동조압수조 differential thermal analysis 시차열분석 diffraction 회절 diffraction wave 회절파 diffused aeration 산기식폭기 diffuse double layer 확산이중층 diffuser 산기장치 diffusion 확산 digestion 소화 digestion gas 소화가스 digestion sludge 소화슬러지, 소화오니 digging 토사굴착 digital elevation model 수치표고모형 digital map 수치지도 digital mapping 수치도화 digital mapping system 수치지도제작체계 digital photogrammetry 수치사진측량 digital terrain model 수치지형모형 digitizing 디지타이징 dike 둑, 방조제 dilatation 팽창 dilational wave 팽창파 dilemma zone 딜레마 구간 dilution 희석 dilution discharge 희석방류 dilution factor 희석비 dilution water 희석수 dimensional analysis 차원해석 dimensional equation 차원방정식 dimensionless unit hydrograph 무차원 단위 유량도 dimension line 치수선 dimple 딤플 DIN 딘 diorite 섬록암 dioxin 다이옥신 dip 경사 dipper 디퍼 dipper dredger 디퍼준설선 dipper handle 디퍼핸들 dipper stick 디퍼스틱 dip slip fault 경사방향이동단층 direct angle method 교각법 direct current arc welder 직류아크용접기 direct current arc welding 직류아크용접 direct desulfurization process 직접탈황법 direct foundation 직접기초 directional cosine 방향 여현 directional design hourly volume 방향별 설계시간 교통량 directional interchange 직결형 인터체인지, 직결형 입체교차 direction angle 방향각 direction of principal stress 주응력 방향 direct load 직접 하중 direct observation 직접관측 direct ramp 직결램프 direct shear test 직접전단시험 direct splice 직접첨접 direct stiffness method 직접 강성도법 direct tension test 직접인장시험 direct undertaking 직영 direct Y-interchange 직결Y형 입체교차 discharge 유량 discharge for firm peak power 상시첨두 사용수량 discharge for firm power 상시사용수량 discharge for secondary power 특수사용수량 discharge frequency curve 유량빈도곡선 discharge hydrograph 유량수문곡선 discharge mass curve 누가유량곡선, 유량누가곡선 discharge rating curve 수위유량곡선 discharging slime of boring 보링슬라임 disc harrow 디스크해로우 discontinuity 불연속면 disc plough 디스크플라우 discrepancy 교차 discrete Fourier transform 이산 푸리에 변환 discrete model 이산화 모델 discrete structure 이산 구조물 discretization 이산화 disinfection 살균, 소독 dislocation 전위 dispensor 디스팬서 dispersing agent 분산제 dispersion 분산 dispersion number 분산수 displaced foundation 치환기초 displaced threshold 활주로 이설말단 displacement 변위, 치환 displacement diagram 변위도 displacement method 변위법 displacement pile 배토말뚝 disposal 처분 disposal by dilution 희석처분 dissimilation 이화작용 dissipation rate 소산율 dissociation 해리 2) dissolved acetylene 용해 아세틸렌 dissolved oxygen 용존산소 dissolved oxygen sag curve 용존산소부족곡선 dissolved solids 용존고형물 distance between center to center 궤도중심간격 distance between track centers  궤도중심간격 distance mark 거리표 distance measurement 측거 distance signal 원방신호기 distance surveying 거리측량 distant advance signal 원방신호기 distillation 증류 distillation test 증류시험 distorsion 뒤틀림 distorted model 왜곡모형 distress 포장결함 distributed moment 분배 모멘트 distributer street 집산로 distributing plate 정류판 distribution bar 배력철근 distribution factor 분배율 distribution model 분포 모형 distribution network 배수관망 distribution reservior 배수지 distributor 살수기, 살포기, 정류판 district cooling and heating 지역냉난방 disturbed sample 교란시료, 흐트러진 시료 ditch 도랑 ditching machine 도랑굴착기 dithizone method 디티존법 diurnal force 일조력 diurnal inequality 일조부등 diurnal range 일조차 diurnal rhythm 일조기 diurnal tide 일주조 diver 잠수부 divergence of earth curvature 구차, 지구곡률오차 diverging island 분류섬 diverging section 분류 구간 diversion dam 취수댐 diversion tunnel 가배수터널 diverted traffic 전환교통 divided highway 분리도로 divining 수맥점치기 dock 독, 선거 dog spike 고리못, 스파이크 dog tooth stone 깬돌 dolomite 백운암 dolphin 돌핀 dome 돔 domestic waste matter 일반폐기물 dominant wave length 주파장 doppler velocimeter 도플러 유속계 dosing chamber 약품 투여실 double acting jack 복동식잭 double acting pile hammer 복동항타기 double angle difference 배각차 double axes 복축 double circuit steel tower 이회선 철탑 double crossover 시사스 크로싱 double curve turnout 양개 분기기 double curve turnout in opposite direction 곡선외방분기기 double curve turnout in same direction 곡선내방분기기 double deck bridge 이층교 double diagonal member 복 사재 double elastic fastening 이중 탄성체결 double end bolt 양 나사볼트 double end spaner 양쪽 스파나 double formation road 복단면 차도 double groove joint 양면홈이음 double headed rail 쌍두레일 double hoist 복동윈치 double lacing 더블 레이싱, 복레이싱 double layer 이중층 double layer filtration 이층여과 double line 복선 double meridian distance method 배횡거법 double nut 이중너트 double open spanner 양구 스파나 double planking 겹부판 double pointed nail 은혈못 double reinforcement 복철근 double shear 복전단, 이면전단 double shouldered tie-plate 양턱 타이플레이트 double slip switch 더블슬립 스위치 double track  복선 double-track bridge 복선교 double track territory 복선구간 double turnout 복 분기기 double warren truss 복 와렌트러스 double row staging 쌍줄비계 double up 더블업 dowel 다우웰, 듀벨 dowel bar 다우웰바, 다우웰철근 dowel lubricant 이음윤활제 dowel reinforcement 다우웰철근 downflow column 하향류칼럼 down hole test 다운홀시험 down main track 하본선 downstream 하류부 downtown street 도심지 가로 down track 하선 dowsing 수맥점치기 draft 흘수 draft head 흡출고 draft line 흘수선 draft tube 흡출관 drag 드래그 drag classifier 드래그분급기 drag force 항력 drag head 드래그헤드 dragline 드래그라인 dragline bucket 드래그라인버킷 drag scraper 드래그스크레이퍼 drag shovel 드래그셔블 drag suction dredger 드래그석션준설선 drainage 배수 2), 배수로 drainage area 배수면적, 집수구역 drainage density 수계밀도 drainage district 배수구역 drainage facilities 배수설비 drainage hole 배수공 drainage texture 수계 drainage tunnel 배수터널 drainage work of fascine 섶다발배수공 drain condition 배수조건 drained shear test 배수전단시험 drain facilities 배수장치 drain hole 배수공 drain method 배수공법 drain pipe 배수관 draught 흘수 drawdown 수위강하 draw down curve 저하(수면)곡선 draw out track 인상선 dredger 준설선 dredger pump 준설펌프 dredging 준설 drier 건조기 2) drift 갱도 drifter 드리프터 drifting 드리프팅 drift pin 드리프트 핀 drift pole 표류간 drill 드릴, 착암기 drill bit 드릴비트 drill boat 드릴선 driller 착암공 drilling 시추, 착암 drilling investigation 시추조사 drilling log 시추주상도 drilling mud 시추니토 drilling rate 굴진율 drilling rig 굴착리그 drill jumbo 드릴점보 drill log 주상도 drill performance 천공능력 drill rod 드릴로드 drill sharpner 드릴샤프너 drill steel 드릴강 drill track 인상선 drinking water 음용수 drip 드립 drive head 드라이브헤드 driven pile 타입말뚝 drive pin 드라이브핀 drive pipe 드라이브파이프 driver information system 운전자 정보 체계 driver judgement time 판단시간 drive shoe 드라이브슈 driveway 진입로 driving test 타입시험 driving wheel 구동바퀴, 동륜 drop ball 드롭볼 drop hammer 드롭해머 drop panel 드롭패널 drop pit 수차피트 drop test 낙중시험 drop in beam 드롭인빔 drop ram compactor 낙추식콤팩터 drought 가뭄 drought flow 갈수량 drought index 가뭄지수 drought water level 갈수위 drug tolerance 약제내성 drum 드럼 drum gate 드럼수문 drum mixer 드럼믹서 drum roller 드럼롤러 drum washer 드럼워셔 dry adiabatic change 건조단열변화 dry batch weight 건조배치중량 dry density 건조밀도 dry dock 건선거 dry excavation 육상굴착 drying 건조 drying bed 건조상 drying shrinkage 건조수축 dry masonry 메쌓기 dry mix 마른혼합 dry mixing 건조혼합 dry mix shotcrete 건조배합숏크리트, 건식 숏크리트,  드라이믹스숏크리트 dry pack 드라이팩 dry packed concrete 드라이팩콘크리트 dry pitching 메붙임 dry process 건식법, 건식원료처리방식 dry riprap 메사석 dry rodded volume 건조체적 dry rodded weight 건조중량 dry rodding 골재의 마른다짐 dry season 건기 dry strength 건조강도 dry-type absorption process 건식흡수법 dry-type desulfurization process 건식탈황법 dry unit weight 건조단위중량 dry weather flow 건천후 유출 dry well 마른우물 dry year 갈수년 DTM 디티엠 dual-divided freeway 이중분리고속도로 dual fuel engine 이원연료엔진 dual-lane runway 복수 활주로 Du-boy’s formula 두보이 공식 duct 덕트 ductile cast iron 연성 주철 ductile cast iron pipe 덕틸주철관 ductile failure 연성 파괴 ductile material 연성재료 ductility 신도, 연성 dug-well 굴착정 dummy 더미 dummy joint 맹줄눈, 치기줄눈 dump car 덤프차 dumper 덤퍼 dump power 잉여전력 dump scow 덤프스카우 dump truck 덤프트럭 dump wagon 덤프왜건 dunagan analysis 두내건분석 dune 사구 dune bed 사구하상 dune fixation 해안 사방공 dune height 사구고 Dupuit’s approximation 듀피의 근사 durability 내구성 durability abration 내마모성 durability pavement 내마모포장 durability test 내구(성)시험 durability topeka 내마모성토페카 duration 지속시간 duration of rainfall 강우지속기간 dust 먼지, 분진, 진애 dust-borne infection 진애감염 dust collection 집진 dust collector 집진기, 집진장치 dust fall 강하매진 dusting 더스팅 dust laying 방진처리 Dutch cone penetration test 더치콘관입시험 dyke 다이크, 둑, 제방 dynamic coefficient of subgrade reaction 동적지반반력계수 dynamic condensation 동적 응축 dynamic consolidation 동압밀 dynamic equilibrium 동적 평형 dynamic head 동수두 dynamic hydrology 동수문학, 동역학적수문학 dynamic load 동하중 dynamic magnification factor 동적 확대 계수 dynamic meteorology 기상역학 dynamic modulus of elasticity 동탄성계수 dynamic penetration test 동적관입시험 dynamic pressure 동압 dynamics 동역학 dynamic similitude 동역학적 상사 dynamic space 동적공간 dynamic structural analysis 동적 구조 해석 dynamic vibration reducer 동흡진기 dynamic viscosity 동점성계수, 점성계수 dynamic water level 동수위 dynamic water pressure 동수압 dynamite 다이너마이트 dywidag method 디비닥공법 D cracking 디형균열 E. coli 대장균군 early-age cracking 초기 균열 early strength 초기강도 earth anchor 어스 앵커, 흙막이앵커 earth curtain wall 토질 차수벽 earth dam 흙댐 earth ellipsoid 지구타원체 earthen ware pipe 오지토관 earth excavation 토사굴착 earth mantle 맨틀 earth moving equipment 토공장비 earth pledge 지구환경서약 earth pressure 토압 earth pressure at rest 정지토압 earth pressure balancing shield 토압식 쉴드 earth pressure cell 토압계 earthquake-proof construction 내진 구조 earthquake resistant design 내진설계 earthquake resisting wall 내진벽 earthquake wave 지진파 earth reinforcement 보강토공법 earth shape surveying 지구형상측량 earth volume 토공량 earth work 토공 easement curve 완화곡선 east datum 동부원점 ebb channel 낙조 수로 ebb current 낙조류 ebb tide 낙조, 썰물 eccentrically loaded compression member 편심 압축재 eccentricity 이심률, 편심 eccentric load 편심 하중 eccentric moment 편심 모멘트 echelon stoker 계단식 스토커 echosounder 음향측심기 ecology 생태학 economic life span 경제적 내용수명 economic yield 경제적 채수량 ecosystem 생태계 eddy 와진 eddy current 와류 eddy viscosity 와점성 edge-bar reinforcement 단부보강철근 edge beam 가장자리 보 edge distance 연단 거리 edge form 단부거푸집 edge joint 연이음 edge wave 육붕파 effective absorption of aggregate 골재의 유효흡수량 effective absorption ratio of aggregate 골재의 유효흡수율 effective area 유효면적 effective cross sectional area 유효단면적 effective diameter 유효지름 effective green time 유효 녹색시간 effective head 유효낙차 effective height 유효높이 effective length of column 기둥의 유효길이 effective length of track 유효장 effective length of weld 용접유효길이 effective overburden pressure 유효 상재하중 effective perceived noise level 실효감각 소음수준 effective plastic strain 유효 소성 변형도 effective prestress 유효프리스트레스 effective rainfall 유효강우량 effective size 유효 입경 effective stress 유효응력 effective throat thickness 유효목두께 effective walkway width 유효보도폭 effective width 유효폭, 유효폭원 efflorescence 백태, 백화 effluent 방류, 방류수 effluent disposal 방류처분 effluent quality standard 배출허용기준 effluent standards 방류수 수질기준 EGR 이지알 eigenvalue 고유치 ejector type dredger 이젝트형준설선 elastic after-effect 탄성 여효 elastic bending 탄성휨 elastic buckling 탄성 좌굴 elastic curve 탄성 곡선 elastic deformation 탄성변형 elastic design 탄성 설계법 elastic fastening 탄성체결 elastic force 탄성력 elastic foundation 탄성기초 elastic ground 탄성지반 elastic half space 탄성반무한체 elasticity 탄성 elastic limit 탄성한계 elastic load 탄성 하중 elastic-load method 탄성 하중법 elastic loss 탄성손실 elastic material 탄성재료 elastic-plastic bending 탄소성휨 elastic-plastic material 탄소성 재료 elastic range 탄성 영역 elastic settlement 탄성침하 elastic shortening 탄성수축 elastic stability 탄성 안정 elastic strain energy 탄성 변형 에너지 elastic support 탄성 지지 elastic suspension 방진지지 elastic wave 탄성파 elastic wave exploration 탄성파탐사 elastic wave inspection survey 피에스검층 elastic wave velocity 탄성파속도 elasto-plastic buckling 탄소성좌굴 electrical prospecting 전기탐사 electrical signal 전기신호기 electric car line 전차선로 electric car shed 전차고 electric charge test 입자의 전하시험 electric curing 전기양생 electric detonator 전기뇌관 electric double layer 전기이중층 electric drill 전기착암기 electric heat curing 전열양생 electric impact wrench 전동임팩트렌치 electric interlocking 전기연동장치 electric lever 전기정자 electric locking 전기쇄정법 electric locomotive 전기기관차 electric locomotive line 전기열차선 electric-mechanical interlocking 전기기 연동장치 electric motor coach 전동차 electric motor vehicle 전기차 electric power system 전력계통 electric protection 전기방식 electric railway 전기철도 electric reamer 전기리머 electric relay interlocking 전기계전연동장치 electric resistance welding 전기저항용접 electric shovel 전기셔블 electric switch machine 전기전철기 electric welding 전기용접 electrification 전화 electrification work 전화공사 electrified section 전화구간 electrode 전극봉 electrode extension 전극돌출길이 electrode tip 전극 electrodialysis 전기투석 electro-gas welding 일렉트로가스 용접 electrolysis 전기분해 electrolyte 전해질 electrolytic corrosion 전기부식, 전해부식 electromagnetic feeder 전자피더 electron beam gun 전자총 electron beam welding 전자빔 용접 electro negative 마이너스 전극봉 electronic distance measurement 전파거리측량기 electronic distance measuring 전파거리측량 electronic interlocking 전자연동장치 electronic tacheometer 전자시거측량기 electron microscope 전자현미경 electro optical distance meter 광파거리측량기 electro-osmosis 전기삼투 electroplatic drill 전기드릴 electroplating 전기도금 electro pneumatic relay interlocking 전공계전연동장치 electro-pneumatic switch machine 전공전철기 electro positive 플러스전극봉 electro-slag welding 일렉트로슬래그 용접 electro-static coating 정전도장 electro-static painting 정전도장 electrostatic precipitator 전기집진장치 electro-static spraying 정전도장 elevated flume 수로교 elevated railway 고가철도 elevated tank 고가수조 elevating grader 엘리베이팅그레이더 elevation 입면도, 표고 elevation-area-capacity curve 표고별 면적-용량곡선 elevation-area curve 표고별 면적곡선 elevation-capacity curve 표고별 용량곡선 El Nino phenomenon 엘니뇨현상 elongation 신장 embankment 둑, 제방 embayment 만입 emergency bridge 응급(조립)교 emergency engine 예비동력 emergency joint bar 응급 이음매판 emergency lock 비상용기갑 emergency of hazard 재해응급 emergency parking bay 비상주차대 emergency rehabilitation 응급복구 emergency spillway 비상여수로 emergency telephone 비상전화 emergency vehicles 긴급차량 emery 에머리 emission factor 방출계수, 배출계수 emission spectroscopy 발광분광법 empirical flood formula 경험적 홍수량 공식 empty weight 자중 emulsified asphalt 석유아스팔트유제 emulsified asphalt 유화 아스팔트 emulsifier 유화제 enclosed arc welding 인크로즈드 아크용접, 전호용접 end anchorage 단부정착장치 end area formula 양단면 평균법 end charging and front discharging 수평혼합믹서 end condition 단부 조건 end-hardened rail 단부 열처리레일 end moment  재단 모멘트 end of transition curve 완화곡선 종점 end of turnout 분기기 종단 endogenous growth 내생성장 endogenous respiration 내생호흡 endorheic lake 내부배수호 end overlap 종중복도 end post 끝기둥 end shearing force 재단 전단력 end stiffener 단보강재 end tab 엔드 탭 end tie plate 끝결합판 endurance limit 내구한도 endurance period 내구년한 endurance test 내구(성)시험 energy 에너지 energy correction factor 에너지보정계수 energy dissipator 감세장치, 에너지감세공 energy equation 에너지방정식 energy grade line 에너지경사선 energy gradient 에너지경사 energy method 에너지 방법 Engesser theorem 엔게서 정리 engine 기관차 engineering geology 지질공학 engineering hydraulics 공업수리학 engineering hydrology 공업수문학 engineering surveying 건설측량 engine run-round track 기회선 engine shed 기관차고 engine sprayer 기계살포기 engine waiting track 기대선 englar viscosity 엔글라 점도 enlargement 굴넓히기 entrained air 에이이 공기, 연행공기 entrance loss 입구손실 entrapped air 갇힌공기 envelope 포락선 enveloping curve 포락선 environment 환경 environmental capacity 환경용량 environmental deterioration 환경악화 environmental engineering 환경공학 environmental impact assessment 환경영향평가 environmental pollution 환경오염 environmental protection 환경보전 environmental science 환경과학 environmental standards 환경기준 enzyme 효소 ephemeral lake 간헐호 ephemeral stream 간헐천 epicenter 진앙 epilimnion 표수층 epoxy asphalt 에폭시 아스팔트 epoxy resin 에폭시수지 equal angle 등변기역형강 equalization tank 균등조 equalizing tank 조정조 equation of continuity 연속방정식 equilibrium 평형 equilibrium cant 균형캔트 equilibrium speed 균형속도 equinoctial spring tide 분점대조 equinoctial tide 분점조 equipment cost 기계경비 equipment of boundary 경계 설비 equipment ownership cost 기계손료 equipment day 대일 equipment hour 대시 equipotential line 등수두선 equivalent annual departures 환산 연간 이륙횟수 equivalent eccentricity 등가 편심 거리 equivalent embedded length 등가묻힘길이 equivalent frame method 등가뼈대법 equivalent grade 상당경사 equivalent joint load 등가 절점 하중 equivalent kilometer 환산킬로정 equivalent-length pipe 등가길이관 equivalent pipe 등가관 equivalent rectangular stress distribution 등가사각형응력분포 equivalent roughness 등가조도 equivalent sound 등가소음 equivalent stress 등가 응력 equivalent weight 당량 erection 가설, 조립 erection bar 조립철근 erection bolt 가설볼트 erection diagram 가설도 erection drawing 가설도 erection hinge 가설힌지 erection load 가설하중 erection mark 조립이음 erection truss 가설트러스 erosion 세굴, 침식 erosion control planting on slope 비탈면보호식재 erosion control work 사방공사 erosion-corrosion 궤식 erosion protection 사방 erratic subsoil 불규칙토층 error 오차 error ellipse 오차타원 error of closure 폐합오차 error of observation 관측오차 escapage 방출수 escape 방출로 escaping distance 피주거리 estimation 견적, 적산 estuary 강어귀, 하구 estuary barrage 하구언 estuary harbor 하구항 estuary lake 하구호 estuary shoaling 하구 천수화 eternit pipe 에터니트파이프 ethanolamine 에탄올아민 ethylene 에틸렌 ethyl mercaptan 에틸메르캅탄 Euler column 오일러 기둥 Euler formula 오일러 공식 Euler load 오일러 하중 euler-spiral 클로소이드곡선 eutectic point 공석점 eutectoidal point 공석점 eutrophication 부영양화 eutrophic lake 부영양호 evaporation 증발 evaporation residue 증발잔류물 evaporite 증발잔류암 evapotranspiration 증발산 evenness 평탄성 event time 마디시각 evertopping 월파 excavated harbor 굴입항 excavation 굴착 excavator 굴착기 excess air 과잉공기, 과잉공기율 excessive precipitation 초과강수량 excessive pumping 과잉양수 excess pore water pressure 과잉간극수압 excess sludge 잉여슬러지 excitation 가진 excitation force 진동하중 exclusive bus lane 버스전용차선 exclusive railway 전용철도 exclusive transit lane 대중교통전용차선 excrement treatment plant 분뇨종말처리장 execution of work 공사실시 execution scheme 시공계획 exfoliation 박락 exfoliation corrosion 층상부식 exhaust flue gas desulfurization 배연탈황 exhaust gas 배기가스 exothermic reaction 발열반응 expanded metal 익스팬디드메탈 expanded metal reinforcement 익스팬디드메탈패브릭 expansion 팽창 expansion adjusting rail 완충레일 expansion admixture 팽창제 expansion agent 팽창제 expansion bearing 신축받침 expansion clay 팽창점토 expansion concrete 팽창 콘크리트 expansion crack 팽창균열 expansion device 신축이음매 expansion index 팽창지수 expansion joint 신축이음, 신축이음매, 팽창줄눈, 신축이음장치 expansion length 신축량 expansion sleeve 신축슬리브 expansion soil 팽창토 expansive blast furnace slag 팽창슬래그 expansive cement 팽창시멘트 expected value 기대값 experimental catchment 시험유역 experimental error 실험오차 explanation at site 현장설명 explicit method 양해법 exploder 발파기 explosion welding 폭발용접 explosive 폭약 exposed aggregate finish 골재노출마무리 exposed core 그립퍼, 익스포즈드 코어 exposure 대안거리 exposure area 노출면적 exposure station 촬영점 expressway 고속도로 extended aeration 장기폭기법 extension device 신장장치 extension limit 연장한계 extension pipe 신축관 extensometer 신축계, 변위측정계 exterior orientation 외부표정 exterior pannel 외측패널 external focussing 외부초점식 external force 외력 external indeterminacy 외적 부정정 external stability 외적 안정 external vibrator 외부진동기 external virtual work 외적 가상일 external work 외적 일 extra annotations 난외주기 extra charge 엑스트라 차지 extraction 추출 extraction test 추출시험(아스팔트) extrarapid hardening cement 초급경시멘트 extra-terrain surveying 공간측량 extra thickness H-shape 극후 에이치형강 extra train 임시열차 extreme distribution 극치분포 extreme rainfall 극치강우량 extreme series 극치계열 extreme value distribution 극치분포 extreme-value series 극치계열 extruded shape 압출형재 eye bar 아이바 eye height 눈 높이 eye protector 차광안경 eye splice 아이스프라이스 eye tracer 아이 트레이서 F/M ratio 에프엠비 FAA airport reference code 에프에이에이 공항 분류 부호 FAA method 에프에이에이 법 fabrication 제작 face brick 화장벽돌 face shield 차광보호면 facilities of station 정거장 설비 facility management 시설물관리 facility surveying 시설물측량 facing ring 와셔 facing turnout 대향 분기기 factored load 계수 하중 facultative anaerobes 통성혐기성균 facultative microbes 임의성미생물 fail-safe 이중 안전장치 fail safe structure 훼일세이프 구조 failure 파괴, 파손 failure criterion 파괴규준 failure envelope 파괴포락선 failure mechanism 파괴 메커니즘 failure plane 파괴면 failure strain 파괴 변형 falling head permeability test 변수위투수시험 falling limb 감수부 fall velocity 침강속도, 침전속도 false color photograph 위색사진 false set 위응결 false work 가설물 fan 선상지 farm surveying 농지측량 far-side stop 원측 정거장 fascia 패시어 fascine 섶 fascine bundle 섶다발 fascine mattress 섶침상 fascine mattress dyke 섶침상수제 fascine work 섶다발공 fat concrete 패트콘크리트 fathogram 수심도, 측심도 fatigue 피로 fatigue design 피로설계 fatigue limit 피로한도 fatigue limit strength 피로한계강도 fatigue notch factor 노치계수 fatigue strength 피로강도 fatigue strength reduction factor 노치계수 fatigue test 피로시험 fault 단층 fault clay 단층점토 faulting 단차 fault plane 단층면 fault scarp 단층절벽 fault spring 단층샘 feasibility study 타당성조사 feed canal 도수로 feldspar 장석 female cone 암콘 fender 방충재 fermentation 발효 ferric chloride 염화제2철 ferric sulfate 황산제이철 ferrite 페라이트 ferrous aggregate concrete 철광석골재콘크리트 ferrous sulfate 황산제일철 ferrum 철 fetch 대안거리, 취송거리 fetch length 취송거리 fiber board 파이버보드 fiber core 심망 fiber reinforced concrete 화이버 콘크리트 fiber reinforced metal 섬유보강금속 fibre 섬유 fibre ball 섬유뭉침 fibre concrete 섬유콘크리트 fiducial mark 사진지표, 지표 field check data editing 정위치편집 field concrete 현장타설콘크리트 field cured cylinder 현장양생원주형공시체 field-density 현장밀도 field instrumentation 현장계측 field load test 현장재하시험 field note 관측기록부, 야장 field pumping test 현장양수시험 field rivet 현장리벳 field splice 현장이음 field unit weight 현장단위체적중량 field welding 현장용접 field work 외업, 현장작업 fill 속채움 fill dam 필댐 filled up ground 성토지반 filler 채움재 filler bin 석분 빈 filler chip 틈막이자갈 filler material 용가재 filler metal 용가재, 첨가금속 fillet 필렛 filleting 모따기 fillet weld 필렛용접 fillet weld in normal shear 전면 필렛용접 fillet weld in parallel shear 측면필렛용접 filling 사춤치기, 성토 filling mortar 사춤모르터 filling stone 사춤돌 filling up 틈메음 fill material 성토재료 fillter course 차단층 filter 여과기, 필터 filter cake 필터케이크 filter dust collector 여과집진장치 filter gallery 집수암거 filter layer 여과층, 필터층 filter medium 여재 filter press 가압탈수기, 여과프레스, 필터프레스 filter sand 여과모래 filtrate 여액 filtration 여과 filtration spring 거름샘 filtration velocity 여과속도 fin 핀 2) final results table of triangulation 삼각점성과표 final sedimentation basin 최종침전지 final set 종결 final setting time 종결시간 final tightening 최종조임 fine aggregate 잔골재 fine fraction 세립분, 세사비율 fine graded asphalt concrete 세립도 아스팔트 콘크리트 fine graded asphalt concrete pavement 세립도아스팔트콘크리트포장 fine grained soil 세립토 fine gravel 잔 자갈 fineness 분말도 fineness modulus of aggregate 골재 조립률 fines 세립분 fine sand 가는 모래, 세사 fine sediment 세립유사 finish 마무리 finishability 마무리성, 피니셔빌리티 finish coat 마감처리, 피니시코트 finished bolt 다듬볼트 finished edge 마무리가장자리, 마무리연 finished nut 다듬너트 finishing 마무리, 표면마무리 finishing machine 마무리기계 finish mark 마무리기호 finish rolling 마무리전압 finish time 끝남시간 finite amplitude wave 유한 진폭파 finite deformation 유한 변형 finite difference method 유한 차분법 finite element 유한 요소 finite element method 유한 요소법 finite slope 유한 사면 fiord 협만 fire brick 내화벽돌 fire clay 내화점토 firecracker welding 횡치식 용접 fire demand water 소화용수 fired strength 가열강도 fired unit weight 가열단위중량 fire hydrant 소화전 fire point 연소점 fire proofing materials 내화재 fire-proofing protection 내화피복 fire resisting wall 내화벽 fire retardant paint 방화도료 fire simulated temperature curve 표준가열온도곡선 fire proof concrete 내화콘크리트 fire proof construction 내 fire proofing materials 내화재료 firing temperature 착화온도 firm discharge 상시사용수량 firm peak discharge 상시첨두 사용수량 firm peak power 상시첨두출력 firm power 상시출력 first class interlocking 제1종 연동장치 fish bellied rail 어복레일 fish eye 은점 fishing harbor 어항 fishing port 어항 fishing wharf 어양부두 fish lift 물고기 갑문 fish lock 물고기 갑문 fish plate 이음매판 fish plate bolt 이음매판 볼트 fish plate nut 이음매판 너트 fish tail 피시테일 fish way 어도 fissured clay 균열점토 fit 맞추기 fitting 맞추기, 이형관 fixed concrete ballast 고정(콘크리트)도상 fixed crane 고정기중기 fixed dam 고정웨어 fixed delay 고정지체 fixed end 고정단 fixed end force 고정단력 fixed end moment 고정단 모멘트 fixed price contract 정액도급계약 fixed roller gate 롤러게이트 fixed signal 상치신호기 fixed solid 고정성고형물, 강열잔류 고형물 fixed-time signal 고정시간 신호 fixed weir  고정웨어 fjord 협만 flag hand signal 수신호 flake ice 프레이크아이스 flame cleaning 화염청소 flame core 속불꽃 flame cutting 가스절단 flame hardening 플레임 하드닝 flame planer 플레임 플래너 flame resistibility 내염성 flame retardant material 난연성재료 flame spraying 플레임 스프레이 flange 플랜지 flange angle 플랜지 기역형강 flange coupling 플랜지 이음 flange joint 플랜지 이음 flange plate 플랜지 플레이트 flange way 윤연로, 플랜지웨이 flangeway depth 윤연로 깊이 flangeway width 윤연로 폭 flanging 플랜징 flare groove welding 플레아 용접 flash 돌기 flash butt welding 플래쉬버트용접 flash coat 플래시코트 flash drying 가열건조 flash flood 돌발홍수 flash flood warning 돌발홍수경보 flash ladder 물고기 사다리 flash mixer 급속혼합기 flash point 인화점 flash point test 인화점시험 flash set 순결 flash stream 급류하천 flash welding 플래쉬용접 flat bar 평강 flat-bottomed rail 평저레일 flat jack 플래트재크 flat land 간사지 flat position 하향자세 flat position of weld 하향용접 flat slab 플래트슬래브 flat splice bar 단책형 이음매판 flattening 편평률 flat weld 평용접 flat headed rivet 평리벳 flaw detector 탐상기 flexibility 유연도 flexibility coefficient 유연도 영향 계수 flexibility matrix 유연도 행렬 flexibility method 유연도법 flexible fastening 탄성체결 flexible foundation 연성기초 flexible mounting 방진지지 flexible pavement 가요성 포장 flexible shaft coupling 탄성축이음 flexural bond 휨 부착 flexural bond stress 휨 부착응력 flexural crack 휨 균열 flexural deformation 휨 변형 flexural displacement 휨 변위 flexural member 휨 부재 flexural rigidity 휨 강성 flexural shear crack 휨 전단균열 flight information region 비행정보구역 flight planning 촬영계획 flip bucket 플립 버킷 float 여유시간, 플로우트 floatation 부상분리법 floating 평탄마무리, 프로트마무리 floating body 부체 floating body construction 부체공법 floating boom 부유방재 floating breakwater 부유식 방파제 floating crane 부선 크레인, 플로팅크레인 floating dam 유동댐, 플로우팅 댐 floating dock 부상도크, 부양식 독, 부함선거 floating erection 부선식 가설 floating foundation 뜬기초 floating gate 부상갑문 floating mark 부표, 측표 floating mixing plant 믹싱플랜트선 floating pan 부상증발접시 floating pier 부잔교 floating pile driver 말뚝박는배 floating pile foundation 뜬말뚝기초 floating rock 뜬돌 floating type structure 부유식구조물 float-type meter 부표식 계기 floc 플록 flocculated structure 면모구조 flocculation 면모화 flood 고수 flood control 홍수조절 flood control dam 홍수조절 댐 flood control reservoir 홍수조절지 flood control storage 홍수조절용량 flooded 침수지역 flood forecasting 홍수예보 flood frequency 홍수빈도 flooding 범람 flooding area 담수면적 flooding irrigation method 저류관개 flooding periphery 범람구역 flood marks 홍수흔적 flood plain 홍수터 flood probability 홍수확률 flood profile 홍수위종단도 flood protection 홍수조절 flood protection works 고수공사 flood routing 홍수추적 flood stage 고수위 flood tide 밀물, 창조 flood tide current 창조류 flood wall 홍수벽 flood warning 홍수경보 flood wave 홍수파 floodway 홍수로 floor beam 바닥보 floor deck 바닥판, 상판 floor joist 장선 floor slab  바닥판, 상판 floor system 바닥시스템, 바닥틀 flow channel 유로 flow chart 계통도 flow cone 플로우콘 flow conveyer 플로우컨베이어 flow curve 유동곡선 flow equalization tank 유량조절조 flower pot 플라워 포트 flow index 유동지수 flowing down of ballast 도상유실 flowmeter 유량계 flow net 유선망 flow of rail head 레일두부 유괴 flow rate 교통류율 flow rule 유동 법칙 flow test 플로우 시험, 흐름시험 flow value 플로우 값 fluid 유체 fluidity 유동성 fluid wave 유체파 flume 가통 fluorescent analysis 형광분석 fluorescent X-ray analysis 형광엑스선분석 fluoridation 불소주입 flush 돌기, 플러쉬 flush valve 세정밸브 flutter 플러터 flux 플럭스 flux cored wire 플럭스 주입 와이어 fly ash 플라이애쉬 fly ash cement 플라이애쉬 시멘트 flying beam 플라잉 빔 flying passage 캣 워크 flying shore 플라잉 쇼어 FM 에프엠 foamed asphalt 폼드 아스팔트 foamed rubber 폼드러버 foam fractionation 거품분리법 foaming 거품발생 foaming agent 기포제 foehn 재넘이현상 fog 안개 fog coat 포그코트 fog curing 분무양생 fog-seal 포그 실 fold 습곡 foliation 엽리 food chain 먹이사슬 foot bridge 인도교 footbridge rope 발판용로프 foot floor or bridge 교량보판 footing 푸팅 footing beam 기초연결보 foot protection 밑다짐 foot protection dyke 밑다짐수제 force 힘 forced circulating mixer 강제혼합믹서 forced flow 강제(교통)류 forced ventilation 강제환기 forced vibration 강제진동 forced vortex 강제와 forced wave 강제파 force method 응력법 force polygon 시력도, 힘의 다각형 forebay 상부저수지 fore deep 해연 foreman 십장 fore piling 천단지지공 foreshore 전빈 foreshore slope 전빈 경사 fore sight 전시 forest for defence of track 철도방비림 forest surveying 삼림측량 forged steel 단강, 단조강 forged surface 흑피 forge weld 단접 forging 단조 forklift truck 지게차, 포크 리프트 트럭 form 거푸집 formaldehyde 포름알데히드 formalin 포르말린 form anchor 거푸집앵커 formation 층 formation level 시공기면 form factor for shear 전단 형상계수 form hanger 거푸집행거 form insulation 거푸집보온재 form lining 거푸집라이닝 form oil 거푸집도포유 form panel 거푸집패널 form resistance structure 형태저항구조 form scabbing 폼스크라빙 form stripping 폼해체 form tie 폼타이 form tie bolt 거푸집긴결볼트 form tier 긴결재 form traveller 거푸집이동장치 form vibrator 거푸집진동기 form work 거푸집공사 form work 폼워크 forward overlap 종중복도 foundation 기초 foundation failure 기초파괴 foundation ground 기초지반 foundation practice 기초공법 foundation rock 기초암반 foundation slab 기초 슬래브 foundation treatment 기초처리 foundation work 기초공사 fourth class track 4 급선 four-track line 복복선 fraass breaking point 푸라스취화점 fractional error of closure 폐합비 fractography 프랙토그래피 fractography examination 파면검사 fractography test 파면검사 fracture 균열 fractured zone 파쇄대 fracture mechanics 균열 역학 fracture surface transition temperature 파면천이온도 fracture test 파면검사 fracturing 할렬 frag 크로싱 frame coordinate system 뼈대 좌표계 framed arch 브레이스드 아치 framed structure 뼈대 구조물 frame planer 프레임플레이너 frame track span 궤광 Francis turbine 프란시스 수차 free available residual chlorine 유리잔류염소 freeboard 여유고 free body 자유 물체 free body diagram 자유 물체도 free end 자유단 free end support method 자유단지지법 free expansion 자유신축 free float 자유여유시간 free flow speed 자유류속도 free groundwater 자유지하수 free network adjustment 자유망조정 free port 자유항 free surface 자유수면 free vibration 자유 진동 free wave 자유파 freeway 고속도로, 프리웨이 freeze drying 동결건조 freezer car 냉장차 freezing 동결 freezing and thawing test 동결융해 시험 freezing index 동결지수 freezing indicator 동결심도계 freezing method 동결공법 freezing point 동결점 freezing process 냉각법, 냉동법 freight car 화차 freight handling machinery 하역기계 freight line 화물선 freight office 화물취급소 freight platform 화물적하장 freight platform retaining wall 적하장 옹벽 freight railway 화물철도 freight shed 화물지붕덮개 freight station 화물역 freight train 화물열차 frequency 주파수, 진동수 frequency ratio 진동수비 fresh-salt-water interface 담염수경계면 fresh water 담수 1) freshwater barrier 담수차단벽 freshwater head 담수수두 freshwater lake 담수호 freshwater lens 담수렌즈 fretting 프렛팅 freyssinet cone 프레시네콘 freyssinet method 프레시네공법 friction 마찰 frictional drag 마찰항력 frictional force 마찰력 friction angle 마찰각 friction circle method 마찰원법 friction factor 마찰 계수 friction head 마찰수두 friction head loss 마찰손실수두 friction joint  마찰이음 friction loss 마찰손실 friction pile 마찰말뚝 friction resistance 마찰저항 friction slope 마찰경사 friction splice 마찰이음 friction velocity 마찰속도 friction welding 마찰용접 frist class 일급선 frog rammer 프로그 래머 frontage road 부도, 측도 frontal concept 탑승구 도착 방식 frontal water depth 전면수심 front fillet weld 전면 필렛용접 front jacking method 전진 잭킹공법 front rod 전철간 frost 동결 frost action 동결작용 frost heave 동융기 frost heaving 동상 frost penetration depth 동결깊이 frost-resisting admixture 동결방지 혼화제 Froude number 프르드 수 FRP method 에프알피공법 fuel 연료 fuel conversion 연료전환 fuel filter 연료필터 fuel injection pump 연료분사펌프 fuel oil 중유 full circle method 방위각법 full-depth asphalt pavement 전 두께 아스팔트 포장 fuller’s curve 풀러곡선 full face cutting 전단면 굴착공법 full face excavator 전단면(터널)굴착기 full penetrated welding 완전용입용접 full prestressing 풀프리스트레싱 full size 현척 full trailer 풀트레일러 full-web section switch point rail 모자형첨단레일 fully actuated controller 완전 감응식 제어기 fully plastic moment 전소성모멘트 fume 퓸 fumigation 훈증 functional group 관능기 functional load 기능하중 fundamental frequency 기본 진동수 fundamental mode 기본 모드 fundamental unit 기본 단위 fungi 곰팡이 funicular polygon 연력도 furning lane 환경시설대 furrow irrigation 고랑관개 fused flux 용융플럭스 fusee signal 발염신호 fusion welding 용융용접, 융접 fusion zone 용융부, 융접부 gabbro 반려암 gable rahmen 게이블 라멘 gage datum 계기기준면 gage pressure 계기압력 gage-side of rails 레일 내측면 gage zero 계기영점 gaging section 계측단면 gaiding surface 레일 내측면 Galerkin method 갤러킨 방법 Galton distribution 갈톤분포 galvanized sheet iron 함석판 galvanizing 아연도금 gamma distribution 감마분포 gamma probe 감마탐침 gamma ray 감마선 gang 인원 gang way 도교 gantlet track 갠트렛트궤도 gantry crane 갠트리크레인 gap 차간시간 gap acceptance 간격수락 gap graded aggregate 결손골재 gap graded fine asphalt concrete 세립도 갭 아스팔트 콘크리트 gap grading 결손분포, 불연속입도 gap in frog 크로싱 결선부 gap spacing 차간거리 garage 옥내주차장 garbology 가볼로지 gas absorption 가스흡수 gas agitation method 가스교반법 gas chromatography 가스크로마토그래피 gas cutting 가스절단 gas dynamics 기체동력학 gaseous pollutant 가스상 오염물 gas foaming agent 발포제 gas forming agent 가스발생제 gasification 가스화 gasket 중공 줄눈재 gas pipe 가스관 gas pocket 블로우홀 gas pressure welding 가스압접 gas scrubber 가스세정탑 gas shielded arc-welding 가스쉴드아크용접 gas stripping 탈기 gas welding 가스용접 gate 게이트, 문비, 탑승구 gate arrival concept 탑승구 도착 방식 gate chamber  수문실 gate guide  스톱퍼 2) gate house 수문실 gate sheet 스톱퍼 2) gathering loader 개더링로더 gauge 게이지, 궤간 gauge adjusting 궤간정정 gauge block 게이지 블록 gauged form 조립거푸집 gauge irregularity 궤간틀림 gauge line 게이지라인, 궤간선 gauge measure 궤간측정 gauge strut 게이지 스트러트 gauge tie rod 게이지 타이롯 gauge widening 궤간확대 gauging well 착수정 Gauss double projection 가우스상사 이중 투영법 Gaussian distribution 가우스분포 Gaussian model 가우시안 모형 Gauss-Kruger’s projection 가우스-크뤼거 투영법 gel 겔 gelatine dynamite 젤라틴 다이나마이트 gel time 응고 시간 general aviation terminal 경 항공기 터미널 general bacteria 일반세균 general bacteria count 일반세균수 general cargo 잡화 general cargo wharf 잡화 부두 general contract 원도급계약 general corrosion 전면부식 general drawing 일반도 generalized coordinate 일반화된 좌표 general shear failure 전반전단파괴 general station without block system 운전간이역 general surveying 일반측량 general waste matter 일반폐기물 generated current 밀도류 generator 발전기 geocentric latitude 지심위도 geodesic 측지선 geodesy 측지학 geodetic datum initial point 측지원점 geodetic datum station 측지원점 geodetic latitude 측지위도 geodetic-line 측지선 geodetic longitude 측지경도 geodetic network 측지망 geodetic reference system 측지기준계 geodetic surveying 측지측량 geographic information system 지리정보체계 geographic longitude and latitude 지리경위도 geoid 지오이드 geoid height 지오이드고 geological columnar section 지질주상도 geological mapping 지질도작성 geological profile 지질단면도 geological structure 지질구조 geological survey 지질조사 geological time scale 지질연대기준 geologic hammer 지질햄머 geologic map 지질도 geology 지질학 geometrical damping 기하감쇠 geometrical moment statical moment 단면 1차 모멘트 geometrical similarity 기하학적 상사 geometric design 기하설계 geometric nonlinearity 기하학적 비선형 geometric similitude 기하학적 상사 geometric unstability 기하학적 불안정 geometry car 궤도검측차 geophysical exploration 물리탐사 geo-spatial information system 지형공간정보체계 geotechnical engineering 지반공학, 토질공학 Gerber girder 게르버 보 geyser 간헐온천 Ghyben Herzberg lens 가이벤 헬즈버그 렌즈 gibault joint 기볼트이음 gimlet 나사송곳 gin pole derrick 진폴데릭 girder 들보 girder bridge 들보교 girder connection erection 연결식거더가설법 girder staging erection 비계식거더가설법 GIS 지아이에스 given point 기지점 glacial age 빙하기 glacial deposit 빙적토 glacial epoch  빙하기 glacier flow 빙하류 glassy material 유리질재료 glaze 동우 gliding 도금 global coordinate system 전체 좌표계 global positioning system 범세계위치결정체계 glued-insulation rail 접착절연레일 gneiss 편마암 goliath crane 골리엇기중기 gondora car 무개차 goods line 화물선 goods railway 화물철도 gore area 접근돌출부 gouge 단층점토 gouging 가우징 governing speed to determine elevation 캔트설정속도 government railway 국유철도 governor 조속기 GPS 지피에스 grab 그래브 grab dredger 그래브준설선 grade 구배 grade 그레이드 grade 종단경사 grade crossing 건널목 grade crossing(level crossing) with 이종 건널목   crossing arming grade crossing(level crossing) with 일종 건널목   crossing bar grade crossing(level crossing) with 일종 건널목   crossing gate grade crossing(level crossing) with 이종 건널목   crossing signal graded crushed stone 입도조정쇄석 grade post 구배표 grader 그레이더 grade separated crossing 입체교차 grade separation 입체분리 gradient 구배 gradient current 경사류 gradient post 구배표 gradient wind 경도풍 grading 땅고르기, 입도 grading curve 입도곡선 grading equipment 정지기계 grading of aggregate 골재의 입도 gradually varied flow 점변류 graduated circle 분도원 grain 나무결 grain size analysis 입도분석 grain size distribution 입도분포 grain wharf 곡물 부두 Gram stain 그람염색 granite 화강암 granitic soil 화강풍화토 granolihtic finish 그래널리식마무리 granolithic concrete 그래널리식콘크리트 granular material 입상재료 granular slag 입상 슬래그 granular soil 입상토 granulated blast furnace slag 입상고로슬래그 graphic statics 도해 정역학 graple bucket 그래플버킷 grasshopper 그래스홉퍼 grating 그레이팅 gravel 자갈 gravel ballast 자갈도상 gravitational water 중력수 gravity 중력 gravity anomaly 중력이상 gravity arch dam 중력식아치댐 gravity dam 중력댐 gravity filtration 중력여과 gravity flow 자연유하 gravity quaywall 중력식 안벽 gravity retaining wall 중력식옹벽 gravity seperation 중력분리법 gravity settling chamber 중력침전실 gravity shunting 중력조차장 gravity surveying 중력측량 gravity wave 중력파 gravity welding 중력식용접 gravity yard 중력입환 gray water 잡배수 green algae 녹조류 green concrete 그린 콘크리트, 녹색콘크리트 green cut 그린커트 green house effect 온실효과 green time 녹색시간 Green’s function 그린 함수 grey cast iron 회색주철 greywacke 경사암 grid blast 그리드 블라스트 grid girder 격자형 거더 grid roller 그리드롤러 grid structure 격자 구조 grinding 연삭 gripper 그립퍼 grit chamber 침사지 grizzly 그리즐리 groin 돌제, 방사제, 수제 groin field 수제구역 groin head 수제머리 groin of fascine 섶돌망태공 groove 그루브, 홈 grooved rail 홈붙이 레일 groove joint 홈눈금 groover 그루버 groove welding 홈용접 gross duty of water 조용수량 gross head 총낙차 gross reservoir capacity 총저수용량 gross volume of mixer 믹서의 총용량 ground 생지 groundage 정박료 ground anchor 지반앵커 ground anchorage 그라운드앵커 ground arch 그라운드아치 ground control point 지상기준점 ground control point surveying 지상기준점측량 ground improvement 지반개량 ground loss 지반손실 ground service equipment road 지상조업장비 통행로 ground sill 바닥다짐공 groundsill works 바닥보호공 ground still 토대 ground surveying 지표면측량 groundwater 지하수 groundwater aquifer 대수층 groundwater level 지하수위 groundwater lowering 지하수위 강하 groundwater recession curve 지하수감수곡선 groundwater runoff 지하수유출 groundwater table 지하수면, 지하수위 ground breaking ceremony 기공식 group index 군지수 group of organization track 조성선군 group of point 분기군 group pile 군말뚝, 무리말뚝 group velocity 군속도 group wave 군파 grout 그라우트, 주입재 grout cement 그라우트시멘트 grouted cut off wall 주입차수벽 grouting 그라우팅, 주입 grouting method 주입공법 grouting pump 주입펌프 grout mixer 그라우트믹서 grout recess 그라우트리쎄스 grout slope 그라우트경사 grout stopper 그라우트스토퍼 grout vent 그라우트벤트 groyne 돌제, 방사제 GSIS 지에스아이에스 guard board 보호판 guard fence 방호벽, 방호울타리 guard rail 가드 레일 guard rail for railroad crossing 건널목 가드레일 guard rail to prevent derailing 탈선방지가드레일 guard timber 침목간격재, 침목계재 guide bank 도류제 guide bend test 형틀휨시험 guide cable 가이드케이블 guide rail 가이드레일 guide sign 안내표지 guide vane 안내날개 guide wall 도류벽 guideway 가이드웨이 gully 구곡 gully erosion 구곡침식 gum paste 고무접착제 gun 건 gun finish 건피니시 gunite 건나이트 gunite shooting 모르터뿜어붙이기 gun man 건맨 gunning 건닝 gunning pattern 건닝패턴 gusset plate 거세트 플레이트 gut 수로 gutter 가거  gutter tool 홈마무리공구 guy 스테이 guy derrick (crane) 가이데릭(크레인) guy line 지지로프 guy rope 지지로프 gypsum 석고 gypsum plaster 석고반죽 gyratory compactor 자이레터리 콤펙터 gyratory crusher 자이레터리 크러셔 gyro theodolite 자이로데오돌라이트 habor entrance 항 입구 hacking 해 hair crack 미세균열 hair pin 헤어핀 half interval contour line 간곡선 half-life 반감기 half space excavation 반단면 굴착 half through bridge 중로교 halogen 할로겐 halo-plankton 염생플랑크톤 hammer 해머 hammer crusher 해머크러셔 hammer drill 해머드릴 hammer grab 해머그래브 hammer head crane 망치머리 크레인 hammering 메다듬 hammering composer method 해머링콤포저공법 hand auger 핸드오거 hand car 핸드카 hand drill 핸드드릴 hand excavation 인력 굴착 hand hole 핸드홀 hand mixing 손비비기 hand operated gate 수동차단기 hand rail 난간 hand rope 핸드로프 hand sprayer 핸드스프레이어 hand tamping 봉다지기 hand turnout with contra flexional curve 외방분기기 hand welding 수용접 hand rail railing 난간공사 hangar 격납고, 행거 hanger rope 행거로프 hanging compass 걸침컴퍼스 harbor 항, 항구, 항만 harbor anchorage 투묘지 harbor district 항만 지구 harbor engineering 항만공학 harbor light 항구등대 harbor oscillation 항내 진동 harbor railway 항만 철도 harbor resonance 항내공진 harbor statistics 항만 통계 harbor survey 항만 측량 harbour railway 임항철도 hard clay 강고점토 hard detergent 경성세제 hardening 경화 hardening function 경화함수 hard facing 표면경화 hardness 경도 hardness test 경도시험 hard pan 경반 hard rock 경암 hard stone 견석 hard water 경수 hardwood 경목재 Hardy Cross method 하디크로스 방법 harmonic analysis 조화 분석 harmonic constant 조화 상수 harmonic function 조화 함수 harmonic motion 조화 운동 harsh concrete 거친콘크리트 hatchuring 영선법 hat shape light gauge steel 모자형 형강 hauling 버력 운반 hauling capacity 견인력 haunch 헌치 head 수두 headed gear type steel tower 투구형철탑 headed stud 볼트형 스터드 header pipe 해더파이프 head hardened rail 경두레일, 두부 열처리레일 heading 도갱 heading up 수위상승, 돋우기 head loss 수두손실 head pulley 헤드풀리 head race 도수로 head tank 수조 headwaters 상류수 headway 운전시격, 차두시간 heart wood 심재 heat affected zone 열영향부 heat exchanger 열교환기 heat expansion 열팽창 heating method 소결공법 heating rate 가열속도 heating treatment 가열처리 heat island effect 열섬효과 heat of hydration 수화열 heat resistance concrete 내열콘크리트 heat resistant material 내열재료 heat resisting paint 내열도료 heat resisting steel 내열강 heat transfer equation 열전달방정식 heat transfer medium 열전달매체 heat treat bolt 조질볼트 heat-treated nut 조질너트 heat-treated rail 열처리 레일 heat treatment 열처리 heaving 부풀음, 융기, 팽상, 히빙 heaving H-shape 극후 에이치형강 heavy equipment 중기 heavy load aircraft 중하중 항공기 heavy metal 중금속 heavy vehicle 대형차, 중차량 heavy water reactor 중수로 heavy weight aggregate 무게골재, 중량골재 heavy weight concrete 중량콘크리트 heel 상류단 heel of crossing 크로싱후단 heel of frog 분기기 종단 heel of frog 크로싱후단 heel of switch 포인트후단 height of dam 댐높이 height of instrument 기계고 helical auger 헤리칼오거 helical screw spreader 스크루형스프레더 heliports 헬리포트 hematite 적철석 hemoglobin 헤모글로빈 hemp core 심망, 헴프코어 Hencky’s theory of plasticity 헹키의 소성 이론 Henry’s law 헨리 법칙 herbicide 제초제 hertz 헤르쯔 heterotroph 종속영양생물 heterotrophy 종속영양, 타가영양 hexagon head bolt 육각볼트 hexagon nut 육각너트 high carbon steel 고탄소강 high-carbon steel rail 고탄소강레일 high cycle fatigue 고싸이클 피로 high density concrete 고밀도 콘크리트 high early strength cement 조강시멘트 high early strength concrete 조강콘크리트 high early strength portland cement 조강포틀랜트시멘트 higher calorific value 고위발열량 higher heating value  고위발열량 higher high water 고고조 higher low water 고저조 highest water level 최고 수위 highest wave 최대파 high fatigue strength anchor cable 고피로강도 앵커케이블 high frequency inducting welding 고주파유도용접 high frequency noise 고주파소음 high frequency resistance welding 고주파저항용접 high manganese steel crossing 고망간강 크로싱 high pressure chord tire 고압타이어 high pressure oxidation process 고압산화법 high-pressure pipe 고압관 high pressure vapored curing 고압 증기 양생 high-rate activated sludge process 고율활성슬러지법 high-rate aeration process 고율폭기법 high-rate composting 고속퇴비화 high-rate digestion process 고속소화법 high-rate trickling filter 고속살수여상 high-speed exit taxiway 고속탈출 유도로 high speed railway rapid transit railway 고속철도 high strength bolt 고력볼트 high-strength concrete 고강도콘크리트 high tensile strength steels 고장력강 high tension bolt 고장력 볼트 high tide  고조, 만조 high water 고수, 고조, 만조 high water level 고수위, 고조위 high water ordinary neap tide 소조평균고조위 high water protection works 고수공사 highway 도로 highway capacity manual 도로용량 편람 highway engineering 도로공학 highway grade separation 완전입체교차 highway operation 도로운영 highway transportation 도로 교통 highway vehicles 도로 차량 hillside work 산복공사 hindcasting 사후추정 hindered settling 간섭침강 hinge 힌지 hinged bearing 힌지받침 hinged joint 활절 hinge pier 로커교각 hinge support 회전 지점 hi split 하이 스플리트 historical data 기왕자료 HMP 에이치 엠피 hodograph 속도곡선 hodograph plane 속도평면 hoist 권양기, 호이스트 holder 홀더 holding apron 대기 계류장 holding bay 대기지역 holding power of nail 못의 보지력 holding rope 지지로프 hold track 유치선 hollow gravity dam 중공중력댐 hollow quoin 수문경첩 home signal 장내신호기 homogeneity 균질 homogeneous material 균질 재료 homogeneous turbulence 동질성 난류 homothermy 등온선 honey comb 곰보 honeycomb beam 하니컴 보 honeycomb core 하니컴 코아 honeycomb structure 벌집구조, 봉소구조 hook 갈고리 hook bolt 후크 볼트 hooked bar 갈고리철근 Hooke’s law 후크 법칙 hoop iron 띠판 hoop reinforcement  띠철근 hoop tension 후프 텐션 hoop tie 띠철근 hoop tied column 띠철근기둥 hopper 홉퍼 hopper car 홉퍼차 hopper dredger 홉퍼준설선 horizontal alignment 평면선형 horizontal angle 수평각 horizontal angle brace 귀잡이 horizontal axis 수평축 horizontal bracing 수평 브레이싱 horizontal construction joint 수평시공이음 horizontal drain 수평배수 horizontal drift 수평갱도 horizontal geodetic datum 경위도원점 horizontal joint 수평이음 horizontal load 수평 하중 horizontal(lateral) loading test 수평재하시험 horizontal longitudinal load 수평종하중 horizontal member 가로재 horizontal position 수평자세 horizontal position of welding 수평용접 horizontal reaction 수평 반력 horizontal shear reinforcement 수평전단철근 horizontal shoring 수평버팀재 horizontal split head 수평열 horizontal surface 수평표면 horizontal thrust 수평 추력 horizontal transverse load 수평횡하중 hornfels 호온펠스 horseshoe tunnel 마제형 터널 hot air seasoning 열기건조(법) hot asphalt plant 가열아스팔트플랜트 hot bin 호트빈 hot concrete 핫콘크리트 hot cracking 고온균열 hot dip coating 용융도금 hot dip plating 용융도금 hot elevater 호트엘리베이터 hot lication 가열살포 hot mixing method 가열혼합공법 hot mixture 가열혼합재 hot rolled steel bar 열간압연원형철근 hot spot 핫스폿 hot start 핫스타트 hot-wire currentmeter 열선유속계 hot applied road tar 가열포장타르 hot mixed asphalt 가열아스팔트혼합재 hot rolled deformed bar 열간압연이형철근 hot weather concrete 서중콘크리트 hourly maximum sewage flow 시간최대오수량 hourly maximum water supply 시간최대급수량 house-inlet 오수받이 Howe truss 호우 트러스 H-section 에이취 형강 Hubbard-field stability test 허버드필드안정도시험 hub-meyer truss 헙-메이어 트러스 human excrement 분뇨 hume pipe 흄관 humidity 습도 hump shunting 험프입환 hump yard 험프조차장 humus 부식토 hunting motion 사행동 hurdle 바자 hydrant system 하이드렌트 방식 hydration 수화작용 hydraulically smooth pipe 수리학적으로 매끈한 관 hydraulic bore 단파 hydraulic cement 수경성 시멘트 hydraulic characteristic curve 수리특성곡선 hydraulic conductivity 투수계수 hydraulic conductivity 투수전도율 hydraulic controlled bulldozer 유압식불도저 hydraulic depth 수리수심 hydraulic drop 수면급락 hydraulic energy dissipator 감세공 hydraulic engineering 수공학 hydraulic excavation 수력굴착 hydraulic filling method 물다짐공법 hydraulic fracturing 수압할열 hydraulic grade line  동수경사선 hydraulic gradient 동수경사, 동수경사선 hydraulic jump 도수 2) hydraulic machinery 수력기계 hydraulic mean depth  동수반경, 수리평균심 hydraulic mean radius 동수반경 hydraulic model 수리모형 hydraulic pile hammer 유압해머 hydraulic press 수압기 hydraulic radius  동수반경 hydraulic radius model 동수반경모형 hydraulic ripper 유압리퍼 hydraulic routing 수리학적 추적 hydraulics 수리학 hydraulic similitude 수리학적 상사 hydraulic structure 수리구조물 hydraulic transient 수리가변류 hydraulic turbine 수차 hydraulic wrench 유압렌치 hydrocarbon 탄화수소 hydro-electric power plant 수력발전소 hydro-electric power potential survey 수력조사 hydro-electric power station 수력발전소 hydrogen chloride 염화수소 hydrogen desulfurization process 수소탈황법 hydrogen embrittlement 수소취화 hydrogen fluoride 불화수소 hydrogen induced crack 수소유기균열 hydrogen ion concentration 수소이온농도 hydrogen sulfide 황화수소 hydrograph 수문곡선 hydrographic surveying 수로측량 hydrological cycle 물의 순환과정 hydrological investigation 수문조사 hydrological year 수문년 hydrologic forecasting 수문예보 hydrologic observation 수문관측 hydrologic processes 수문과정 hydrologic routing 수문학적 추적 hydrologic time series 수문시계열 hydrology 수문학 hydrolysis 가수분해 hydrometeor 대기응결물 hydrometeorology 수문기상학 hydrometer 비중계 hydrometer test 비중계시험 hydrophilic aggregate 친수성 골재 hydrophilic colloid 친수콜로이드 hydrophobic colloid 소수성 콜로이드 hydro-power output 수력발전출력 hydropower plant with regulating pond 조정지식발전소 hydro-power potential 포장수력 hydrosphere 수권 hydrostatic excess pressure 과잉정수압 hydrostatic head 정수두 hydrostatic pressure 정수압 hydrostatics 정수역학 hydrothermal alteration 열수변질 작용 hydroulic aggregate 소수성골재 hydro cone crusher 하이드로콘 크러셔 hygroscopic coefficient 토습계수 hygroscopic water 토습수, 흡착수 hypabyssal rock 반심성암 hypocenter 진원 hypochlorous acid  차아염소산 hypolimnion 심수층 hysteresis 이력현상 hysteresis loop 이력 곡선 I-beam 아이형강 I-beam piling method 아이빔 말뚝공법 ICAO aerodrome reference code 이카오 비행장 분류부호 ICAO Annex 14 국제 민간 항공 협약 부속서 제 14 ICD 아이씨디 ice breaker 쇄빙선 ice cover 표층결빙 ice lens 아이스렌즈 ice load 빙하중 ice pressure 빙압 ideal condition 이상적 조건 ideal fluid 이상유체 identification plate 명판 igneous rock 화성암 ignition point 자연발화점 illite 일라이트 illumination 조도 1) image coordinates 상좌표 Imhoff cone 임호프 콘 Imhoff tank 임호프탱크 immediate oxygen demand 순간산소요구량 immersed tube method 침매공법 impact 충격 impact coefficient 충격 계수 impact crusher 임팩트크러셔 impact resistance 내충격성 impact roller 충격식롤러 impact stress 충격 응력 impact test 충격시험 impedance 통행저항 impeller 날개차 impeller breaker 임펠러브레이커 impervious blanket 불투수성블랭킷 impervious core 코어 impervious layer 불투수층 implicit method 음해법 imposed displacement 강제변위 impregnated sleeper 주입침목 impregnated tie 주입침목 impulse 역적 impulse water turbine 충격수차 impulsive load 충격 하중 impulsive wave 충격파 IMT 아이엠티 incident angle 입사각 incident seismic wave input wave 입력지진파 incineration 소각 incinerator 소각로 inclined apron 경사 에이프런 inclined conduit 경사도관 inclined drilling 경사보링 inclined gauge 경사수위계 inclined pile 경사말뚝 inclined plate settler 경사판 침전지 inclined shaft 사갱 inclined stirrup 경사스터럽 inclinometer 경사계 incoming line 인입관 incomplete fusion 융합불량 incomplete truss 불완전 트러스 incompressibility 비압축성 incompressible fluid 비압축성유체 increase in train speed 속도향상 incremental launching method 압출공법 increment of width at curves 곡선부 확대 indentation 패임 indented wire 인덴티드와이어 independant model triangulation 독립입체모형법 independant obsevation 독립관측 independent float 독립여유시간 independent parallel approach 독립 평형진입 independent parallel departures 독립평행출발 independent wire strand core rope 공심로프 index contour line 계곡선 index map 표정도 index of disorder of track 궤도틀림지수 index of track irregularity 궤도틀림지수 index organism 지표생물 index property 분류특성 index of degree of fissuring 균열지수 indicator 지시약 indicator organism 지표생물 indicatory sign 지시표지 indirect joint 간접이음 indirect load 간접하중 indirect observation 간접관측 indirect splice 간접덧댐 indirect welding 간접용접 individual footing 독립기초 individual mold method 단독몰드방식, 인디비듀얼 몰드공법 indophenol method 인도페놀법 induced anisotropy 유발 이방성 industrial line 공장 인입선 industrial port 공업항 industrial track 공장선로 industrial wastes 산업폐기물 industrial wastewater 산업폐수 industry track 전용선 inelastic behavior 비탄성 거동 inelastic bending 비탄성 휨 inelastic buckling 비탄성 좌굴 inelastic region 비탄성 영역 inelastic strain energy 비탄성 변형 에너지 inert gas arc welding 불활성가스아크용접 inert gas shielded tungsten arc welding 티그용접 inertia force 관성력 inertial dust separator 관성집진장치 infiltrated water 복류수 infiltration 침투 infiltration gallery 집수매거, 집수암거 infiltrometer 침투계 infinitesimal deflections 미소 처짐 infinite slope method 무한사면법 inflammability 인화성 inflection point 변곡점 influence chart 영향 도표 influence circle chart 영향원법 influence coefficient 영향 계수 influence line 영향선 influence surface 영향면 infrared photography 적외선사진 infrared spectrophotometer 적외선분광광도계 inherent anisotropy 고유이방성 initial curing 초기양생 initial curvature 초기 곡률 initial deflection 초기 변위 initial dry shrinkage 초기건조수축 initial freezing 초기동결 initial green time 초기 녹색시간 initial prestress 초기프리스트레스 initial settlement 초기침하 initial stress 초기 응력 initial tamping 초벌마무리 ink pot 먹통 inland 제내지 inlet 수로 inlet pipe 인입관 inlet time 유입시간 inner edge 레일 내측면 inner harbor breakwater 내항 방파제 inner orientation 내부표정 inner rail 내궤 inorganic acid 무기산 inorganic mercury 무기수은 insect pests tie 침목충해 insert bit 인서트비트 inside lining 내부라이닝 inside of station 정거장내방 in-situ investigation 현장조사 in-situ load test 현장재하시험 in-situ stress 현장응력 in-situ test 원위치시험 inspection for joint gaps 유간검사 inspection for railway maintenance 궤도보수검사 inspection gallery 검사로 inspection of train vibration 열차진동 검사 inspection pit 검사피트 inspection rolling 검사롤링 inspection track 검사선 instantaneous collapse 순간 붕괴 instantaneous deflection 즉시 처짐 instantaneous loading 순간 재하 instantaneous unit hydrograph 순간단위(유량)도 instruction for track maintenance 궤도정비기준 instrument approach runway 계기 접근 활주로 instrumentation 계장 instrument flight rules 계기 비행방식 instrument height system 기고식 instrument landing system 계기 착륙시설 instrument meteorological conditions 계기비행기상상태 instrument runway 계기 활주로 insufficient cant  부족캔트 insufficient superlavation 부족캔트 insulated joint 절연이음매 insulating concrete 단열콘크리트 insulating layer 단열층 insulation material 절연재료 intact rock 원암 intake 취수시설 intake dam 취수댐 intake gate 취수문 intake pipe 취수관 intake tower 취수탑 intake weir 취수웨어 integral waterproof 인티그럴방수 intelligent robot 지능로봇 intensity of rainfall 강우강도 intercepting sewer 차집관거 interception 차단 interchange 인터체인지 interface 접합점 interfacial tension 경계면 장력 inter-granular corrosion 입자간부식 interim payment 중간불 interior orientation 내부표정 interior panel 내측패널 interior work 내부공사 interlocked points 연동전철기 interlocking installation 연동장치 interlocking sheet 연동도표 intermediate beam 중간보 intermediate coat 중간칠 intermediate contour line 주곡선 intermediate point 중간점 intermediate principal stress 중간주응력 intermediate sight 중간시 intermediate station 중간정거장 intermediate stiffener 중간보강재 intermittent weld 단속용접 internal force 내력 internal prestressing 내적프리스트레싱 internal rate of return 내부수익율 internal vibrator 내부진동기 internal virtual work 내적 가상일 internal wave 내부파 internal work 내적 일 international air transport association 국제항공운송협회 international civil aviation organization 국제민간항공기구 International Hydrological Decade 국제수문10년계획 international system of units 국제단위계 interpolation 보간 intersecting runway 교차활주로 intersection 교차로 intersection angle of railway crossing 건널목교각 interstitial velocity 공극수유속 intertrack space 궤간내 interurban railway 도시간 철도 interval 신호간격 interval distribution 간격분포 intervisibility 시통 intra airport transit system 공항내 여객 수송 시스템 intrinsic permeabililty 고유투수계수 intrusion mortar 주입모르터 intrusive rock 관입암 inundated area 침수지역 inundation 침수 inundation method 이넌데이션법 inundator 이넌데이터 inversed lining 역권법 inverse matrix 역행렬 inversion layer 역전층 invert 인버트 inverted arch 역아치, 인버트 아치 inverted filter 역필터 inverted siphon 역사이펀, 잠거 inviscid fluid 비점성 유체 ion exchange 이온교환 ion exchange resin 이온교환수지 ionization 이온화 ion-osmotic process 이온삼투법 iron 철 iron and steel 철강 iron bacteria 철박테리아 iron cement 철시멘트 iron powder cement 철분시멘트 irregalarity of track 궤도틀림 irregularity in cross level 수평틀림 irregularity in line 줄틀림 irregularity in longitudinal level 면틀림 irregular train 부정기열차 irregular wave 불규칙파 irrigated area 관개면적 irrigated rice paddy 수리안전답 irrigation 관개 irrigation area 관개면적 irrigation canal 용수로 irrigation efficiency 관개효율 irrigation farming 관개농업 irrigation requirement 관개용수량 irrigation water 관개용수 irrotational flow 비회전류 I-section fish plate 아이형 이음매판 I-section steel pile 아이형 강말뚝 island platform 섬식 승강장 island process 아일랜드공법 isobath 등심선 isocenter 등각점 isochian 등설심선 isochrone 등시곡선 isochrone map 등류하시간선도 isodepth 등심선 isohaline 등염선 isohyet 등우선 isohyetal chart 우량도 isolated footing 독립확대기초 isomorphous substitution 동형치환 isonival 등설심선 isopiezotic line 등지하수위선 isopluvial 등우선 isotherm 등온선 isotope 동위원소 isotropic consolidation 등방압밀 isotropic strain hardening 등방성 변형경화 isotropy 등방성 isovel 등속선 Italian method 이태리식굴착 iterative method 반복법 jack 잭 jack hammer 잭해머 jacking method 추진공법 jam density 혼잡 밀도 jar test 교반시험 jar tester 자 테스타 jaw hammer 조해머 jet 제트 jet cutter method 제트커터공법 jet lifrter method 제트리프터공법 jet roof 적설 예방책 jetting 제팅 jetty 도류제 jetty wharf 돌제 부두 jib crane 집 크레인 jig 지그 jim crow 짐크로 jitterburg 대형탬퍼 joasten method 조스텐공법 job mix 현장배합 job site kilotage 현장키로정 joint 이음, 절리, 절점, 접합부, 줄눈 joint bar 이음매판 joint-bar renewal 이음매판 갱환 joint bolt 이음매판 볼트 joint capacity 이음부 내력 joint classification 줄눈분류 joint cleaner 조인트클리너 joint clearance 유간 joint clearance gauge 레일 유간게이지 joint(wall) compressive strength 절리면 압축강도 joint cutter 조인트커터 joint displacement 절점 변위 joint drilling 이음매 구멍 joint efficiency 이음 효율 joint face 절리면 joint filler 성형줄눈재, 줄눈판 joint gap 유간 joint grouting 조인트그라우팅 jointing 절리작용, 줄눈마무리 joint opening 줄눈폭 joint orientation 절리방향 joint plan 줄눈나누기 joint plane 절리면 joint rolling 조인트전압 joint roughness 절리굴곡도 joint roughness coefficient 절리면 굴곡계수 joint sealer 조인트실러, 주입 줄눈재 joint sealing compound 조인트실링제, 줄눈재 joint sleeper 줄눈침판 joint spacing 줄눈간격 joint splice 이음매 구멍 joint station(with people) 민자역사 joint storage 공용용량 joint survey 절리조사 joint tie 이음매침목 joint venture 공동도급 Joule’s law 쥬울법칙 journey time 여행시간 juction station 분기정거장 jumbo drill 점보드릴 junction 접합부, 합류점 junction station 연락정차장 junction well 접합정 juvenile water 초생수 Kaplan turbine 카프란 수차 kelly ball 켈리볼 kelly’s ball test 켈리볼 시험 kerb 연석 keystone 쐐기골재 key stone macadam 쐐기석 마캐덤 keyway 키웨이 killed steel 킬드강 kiln 소성로, 킬른 kilometer post 킬로표 kind of road 도로의 종류 kinematics 운동학 kinematic strain hardening 운동학적 변형경화 kinematic viscosity 동점성계수 kinematic viscosity test 동점도 시험 kinematic wave 운동파 kinetic energy 운동 에너지 kinetic friction 동마찰, 운동마찰 kink 킹크 Kirchhoff’s hypothesis 키르히호프의 가정 kiss and ride 키스 앤드 라이드 knee brace 니 브레이스 knot 옹이 known point 기지점 knuckle 너클 knuckle joint 너클이음 Korea gedetic horizontal datum 대한민국경위도원점 Korean roof tiling 한식기와잇기 Korean wooden lath wall 한식외벽 Korea geodetic vertical datum 대한민국수준기점 Kronecker delta 크로네커 델타 KS method of examination for 공해공정시험법   pollution control K-truss 케이트러스 k value 케이 값 kwh value 킬로와트-시 가치 K_loading 케이하중 K_S loading 케이에스하중 lab joint 겹이음 labor unit 품 lacing 레이싱 lack of fusion 융합불량 lacustrine deposit 호성퇴적토, 호성토 ladder dredger 래더준설선 ladder excavation 래더굴착기 ladder foundation 사다리기초 ladder bucket 래더버킷 lagging 흙막이판 lagoon 라군, 석호 lag time 지체시간 laitance 레이턴스 lake asphalt 레이크 아스팔트 lake deposite lacustrine soil 호성토 lamellar tearing 라멜러 티어링 lamellar tear resistant steel 내 라멜라 테어 강 lamella tearing 층간박리 laminar boundary layer 층류경계층 laminar sublayer 층류저층 laminated soil 박층토 laminated structure 박층구조 lamination 라미네이션 land application 지면살포 land disposal 토지처분 land erosion 지표유실 landfill disposal 매립처분 land information system 토지정보체계 landing aids 착륙 보조시설 landing distance 착륙거리 landing edge 종이음 landing strip 착륙대 landing weight 착륙중량 land readjustment 토지구획정지 land reclamation 개간 land settlement 지반침하 land side 랜드 사이드 landslide 사태, 산사태 land treatment 토지처리 lane 차로, 차선 lane groups 차선군 lane load 차선하중 lane marking 차선표시선 lane shift 본선 이행 Langer girder 랭거 보 Langer truss 랭거 트러스 Lang’s lay 랭 꼬임 La Nina phenomenon 라니냐 현상 lanting treatment 식생공 Laplace condition 라플라스조건 Laplace point 라플라스점 Laplace station  라플라스점 lap resistance welding 겹침저항용접 lap splice length 겹이음길이 large area surveying 대지측량 large dam 대댐 large deflection 대처짐 large geodetic surveying 대지측량 LAS detergent 엘에이에스세제 laser beam cutting 레이저 절단 laser beam welding 레이저 용접 laser doppler velocity meter 레이저 도플러 유속계 laser level 레이저레벨 latent evaporation 잠재증발 latent heat of vaporization 기화열 lateral 지수로 lateral bracing 횡 보강재 lateral buckling 가로 좌굴, 횡좌굴 lateral canal 측수로 lateral clearance 측방여유 lateral drain 수평배수 lateral flow 측방유동 lateral force coefficient 가로미끄럼 저항계수 lateral inflow 횡유입류 lateral load 횡하중 laterally loaded pile 횡하중말뚝 lateral overlap 횡중복도 lateral pressure 측압, 횡압력 lateral reinforcement 횡방향 철근 lateral resistance of pile  말뚝의 수평저항력 lateral resisting force of ballast 도상횡저항력 lateral strain 횡변형도 lateral torsional buckling 횡비틀림좌굴 laterite 래터라이트, 홍토 latex 라텍스 latitude 위거 latitude 위도 lattice 래티스 lauan 나왕 launching 진수 launching erection 런칭 가설 launching girder  런칭 거더 launching nose 압출노즈 launching truss 런칭 거더 lava 용암 law of cadastre 지적법 law of similitude 상사율 law of survey 측량법 layer 레이어, 자료층, 층 laying joint gap 설정유간 laying of CWR 장대레일부설 laying of rail track 궤도부설 laying out 금긋기 laying(setting) temperature 설정온도 layout 금긋기 LC50 엘시50 LD50 엘디50 leachate 침출수 leaching 리칭, 침출 lead 리드 lead curve 리드곡선 lead equivalent 연당량 leading green 선행 녹색 lead length 리드길이 lead line 측심선 lead pipe 납관 lead pollution 납오염 leakage 누수 leakage coefficient 누수계수 leakage ratio 누수율 leak test 누출시험 leak test by filling water 누수시험 lean clay 빈점토 lean mix 빈배합 least square method 최소 자승법 left bank 좌안 left-head turnout 좌분기기 left side 좌안 leg 용착폭 leg drill 레그 드릴 legibility distance 판독거리 leg length 각장 Lehman’s rule 레만법칙 length of drain path 배수장 length of sight 시준거리 length of transition curve 완화곡선장 lens calibration 렌즈검정 Leonhardt method 레온하르트공법 L-equivalent load 엘 상당치 lethal concentration 50 반수 치사농도 lethal dose 50 반수 치사량 lethal fallout 죽음의 재 levee 둑, 제방 levee body 제체 levee protection 수방 level 둑, 레벨, 수준의 level crossing 건널목, 평면교차 level difference from zenith distance 양차 leveling 고저측량, 땅고르기, 수준측량, 정준 leveling circuit 고저측량환, 수준환 leveling course 레벨링 코오스 leveling network 고저측량망, 수준망 leveling up 수평맞추기 level lifting crane 수평기중기 level of service 계획수준, 서비스 수준 level of significance 유의수준 level surface 수준면 level terrain 평지부 level tube 수준기 levitation-type train 부상식철도 L-form curb of reinforced concrete 철근콘크리트엘형연석 Libman’s classification 리브만 분류 life rope 안전 로프 lift 리프트 lift bridge 승강교 lift force 양력 lifting construction method 기중식가설법 lifting hooks 리프팅갈고리 lifting (raising) of track track elevation 궤도들기 lift joint 리프트조인트 lift slab 리프트슬래브 lift thickness 부설두께 lift tower 리프트 타워 lift-up erection method 리프트업 공법 light colouered aggregate 명색골재 light coloured pavement 명색포장 lighter’s wharf 물양장 light gauge-ribbed channel 모자형 형강 light gauge steel construction 경량철골공사 light house 등대 light load aircraft 경하중 항공기 light load pavement 경하중 포장 light truck 경트럭 light weight aggregate 경량골재 light weight aggregate concrete 경량골재콘크리트 light weight brick 경량벽돌 light weight concrete 경량콘크리트 light weight passenger car 경량객차 lignin 리그닌 lime 석회 lime cave 석회암 동굴 lime mortar 석회모르터 lime post-treatment 후석회처리 lime-soda process 석회소다법 lime stabilization 석회안정처리 limestone 석회석, 석회암 limit design 극한설계 limit design method 한계상태설계법 limit load 한계하중 limit size 한계치수 limit speed 제한속도 limnoplankton 호수플랑크톤 linear channel 선형하도 linear elastic 선형 탄성 linear motor car 리니어 모터카 linear prestressing 직선프리스트레싱 linear reservoir 선형저수지 linear theory 선형 이론 linear transformation 직선이동 line bearing 선 받침 line net 관망 line of action of force 힘의 작용선 line of collimation 시준선 line of principal stress 주응력 곡선 line of saturation 침윤선 line open to traffic 영업선 line rail 기본레일 lines of link polygon 연력선 line source 선유원 line vortex 선와동 lining 라이닝, 복공, 줄맞춤작업 lining board 복공판 link bridge 사슬식적교 link support 링크 지점 liparite 석영조면암 lipid 지질 liquefaction  액상화 현상 liquefied natural gas 액화천연가스 liquid ammonia 액체암모니아 liquid asphalt 액체아스팔트 liquidated damages 지체보상금 liquid chlorine 액체염소 liquidity index 액성지수 liquid limit 액성한계 liquid penetrant testing 침투탐상시험 LIS 엘아이에스 littoral barrier 표사 장애물 littoral characteristics 표사 특성 littoral current 해빈류 littoral deposit 연안 퇴적, 연안 퇴적물 littoral drift 연안 표사, 표사, 해안 표사 littoral force 표사력 littoral material 표사 물질, 연안 토사 littoral movement 표사 이동 littoral process 표사 과정 littoral region 표사대, 표사역 littoral sediment transport 연안표사 이동 littoral transport 표사 이동 littoral zone 표사대, 표사역 live end 라이브엔드 live end anchorage 라이브엔드 정착장치 live knot 산옹이 live load 동하중, 활하중 living environment 생활환경 living organisms of oligosaprobien 빈부수성 생물 load 하중 load action 하중 효과 load capacity of pile 말뚝의 수평저항력 load carrying capacity 내하력 load cell 하중계 load curve 하중 곡선 load-displacement diagram 하중 변위도 loaded test 재하시험 loader 로더 load factor 부하율, 하중 계수 load inclination factor 하중경사계수 load increment 하중 증가량 loading bridge 탑승교 loading gauge 적재정규 loading plate 재하판 loading rate 재하속도 loading test 재하시험 loading track 화물적하선 load-Resistance factor design 하중-강도감소 계수 설계법 load-settlement curve 하중-침하 곡선 loam 롬 loaned stone 외돌 local bond failure 국부 부착파괴 local buckling 국부 좌굴 local controller 지역 제어기 local coordinate systerm 국부 좌표계 local failure 국부 파괴 local inflow 지천유입양 local pollution 국지오염 local road  국지도로, 지구내도로 local shear failure 국부전단파괴 local train 지방열차 lock(gate) 갑문 lock bay 갑만 lock chamber 갑실(거) locked coil wire rope 럭커드코일와이어로프 locked points 쇄정전철기 lock nut 잠금너트 lock sill 갑문턱 locomotive 기관차 locomotive kilometer 기관차주행거리 loess 로우에스 logarithmic decrement 대수 감소율, 대수적감소 logarithmic growth 대수성장 logarithmic spiral 대수나선 log-normal distribution 대수정규분포 log scaffolding 통나무비계 logway 유목로 Lohse girder 로제 보 lok nut washer 록크너트 와셔 London type smog 런던형 스모그 long and middle term airport master plan 공항개발 중장기 기본 계획 long crested wave 장파봉파 long distance railway 장거리철도 longer rail 장척레일 longitude 경도 longitudinal dispersion 종이송확산 longitudinal float finisher 세로방향플로트피니셔 longitudinal force 종방향력 longitudinal joint 세로이음, 종방향 이음 longitudinal joint 종이음 longitudinal leveling 종단측량 longitudinal packing 세로패킹 longitudinal platform 세로홈 longitudinal resisting force of ballast 도상종저항력 longitudinal skid resistance coefficient 종미끄럼 마찰계수 longitudinal sleeper 종침목 longitudinal stiffener 종보강재 longitudinal tie track 종침목궤도 longitudinal ventilation 종류식 환기 longitudinal vibration 종진동 longitudinal wave 종파 long lift 롱 리프트 long line system 롱라인 공법 long nose rail 긴노즈레일 long period constituent 장주기 분조 long period tide 장주기조 long period wave 장주기파 long rail long longitudinal load 롱레일종하중 long rail on bridge 교상장대레일 long-range aerial navigation 로오란 longshore bar 연안 사주 longshore current 연안류 long term stability problem 장기안정문제 long time deflection 장기처짐 long time loading 장기 하중 long wave 장파 loop 루프 loop bridge 루프교 loop channel 우회수로 loop detector 루프 차륜감지기 loop line 환상선 loop ramp 루프램프 loop rating curve 고리형 유량환산곡선 loop transit 근거리왕복순환대중교통 loose depth 부설두께 loose spike 뜬 스파이크 Los Angeles abrasion loss 로스엔젤레스 마모감량 Los Angeles abrasion test 로스엔젤레스 마모시험 Los Angeles type smog 로스엔젤레스형 스모그 losing stream 함양천 loss of head 손실낙차 loss of head gauge 수두손실계 loss of prestress 프리스트레스 손실 loss on heating 증발감량 loss on ignition 강열감량 lost time 손실시간 lot 로트 love wave 러브파 low alkali cement 저알칼리시멘트 low alloy steel 저합금강 low calorific value 저위발열량 low carbon steel 저탄소강 low cost pavement 간이포장 low cycle fatigue 저사이클 피로 low dam of fascine 섶댐 lower chord 하현재 lower critical velocity 하한계유속 lower head 저비실 lower high water 저고조 lower low water 저저조 lower low water datum 저저조기준면 lower of track 궤도낮추기 lower specification limit 하한규격치 lower tightening screw 하부고정나사 lowest low water level 최저저조면 low flow analysis 갈수해석 low heat cement 저열시멘트 low heat portland cement 저열포틀랜트시멘트 low hydrogen electrode 저수소계 용접봉 low magnetic steel 저자성강 low platform 저상 승강장 low pressure pipe 저압관 low pressure pneumatic tire 저압타이어 low relaxtion steel 저리랙세이션강재 low temperature brittleness 저온취성 low temperature corrosion 저온부식 low temperature stress relieving 저온응력제거 low temperature vessels 저온용기 low temperature welding 저온용접 low tide 저조 1) low tide terrace 저조 간사지 low water 간조, 저수 2), 저조 1) low water channel 저수로 low water level 저수위 low water ordinary neap tide 소조평균저조위 lozenge pattern grid 사교격자보 L-shape retaining wall 엘형옹벽 L-steel 엘형강 lubricant 감마재 Luders line 뤼더선 luer fluidity 류에르 유동성 Lugeon unit 루전 단위 lumber 목재 luminous intensity 조도 1) lump sum contract 총액도급계약 lunar tide 태음조 luster 광택 lute 류트 lysimeter 증발산량계 macadam aggregate 주골재 macadam road construction method 머캐덤 공법 macadam roller 머캐덤롤러 macconnel curve 맥코낼 커어브 Mach angle 마하각 machined edge 마무리연 machine excavation 기계굴착 machine foundation 기계기초 machine hatch 머신햇치 machine mixing 기계비비기 machine screw 비스 Mach number 마하수 Mackley’s snow plough 매클리제설차 macroclimatology 대기후학 macrometeorology 대기상학 macroscopic velocity 거시적 속도 macro-structure test 매크로 조직시험 maglev railway 자기부상식 철도 maglev(magnetic levitation) train 자기부상열차 magma 마그마, 암장 magnaflux inspection 자기탐상 magnetic blow 자기쏠림 magnetic declination 자침편차 magnetic north 자북 magnetic particle examination 자분탐상검사 magnetic surveying 지자기측량 magnetic variation 자기편차 magnetite 자철석 magnified moment 확대 모멘트 magnitude of force 힘의 크기 MAG welding 마그용접 main gear 주 기어 main girder 주형 main levee 본둑 main line 간선, 본선 main load 주하중 main post 주기둥재 main rail 주레일 main rope 주삭 main runway 주 활주로 main shock 본진 main signal 주신호기 main stud member 주각재 maintenance 보수, 보전, 유지관리 maintenance apron 정비용 계류장 maintenance cost 정비비 maintenance member  보수요원 maintenance of CWR 장대레일보수 maintenance of organization 보수조직 maintenance of railway 철도보수 maintenance of track 궤도보수 maintenance of turnout 분기기작업 maintenance of way 보선 maintenance workman 보수요원 major joint 주절리 major weaving section 다중엇갈림구간 malathion 말라치온 male cone 숫콘 malleability 전성 malleable cast iron 가단주철 maltenes 말텐 managaness crossing 망간크로싱 managaness steel rail 망간강 레일 Mandel-Cryer effect 만델-크라이어효과 manervering chain 조종체인 maneuvering area 주행구역 maneuvering winch 조종윈치 manganese 망간 manganese steel 망간강 manhole 맨홀, 인공 man-hour 인시 manifold 다지관 manipulator 매니퓰레이터 Manning’s formula 맨닝공식 manometer 마노미터, 액주계 manpower saving track 생력화 궤도 mantle 맨틀 manual rain gauge 보통우량계 manual signal 수동신호기 manual stage gauge 보통수위계 manual switch 수동식 전철기 manual welding 수용접 map 지도 map compilation 지도편집 map projection 도법, 지도투영법 map symbols 도식 maraging steel 머레이징 강 marble 대리석 marginal stripe 측대 margin load 한계하중 marigram 조후 곡선 marigraph 검조곡선 marine accident 해난 marine algae 해초 marine clay 해성점토 marine condition 해상 상태 marine deposit 해성층 marine ecosystem 해양생태계 marine pollution 해양오염 marine soil 해성토 marine structure 해양구조물 marine terrace 해안 단구 marine transport 해상 수송 maritime concrete 해양콘크리트 maritime work 해상공사 marking 표시 marking gauge 마킹게이지 marking off 금긋기 marl 이회암 marshalling work 조차작업 Marshal’s stability test 마샬안정도시험 marsh land 소택지 mashalling switching yard 조차장 mash-seam welding 매쉬심 용접 mason 석공 masonry 돌쌓기공사 masonry cement 미장용시멘트 masonry dam 석조댐 masonry mortar 돌쌓기모르터 masonry retaining wall 석축 masonry structure 조적식구조 masonry unit 조적단위 mass concrete 매스콘크리트 mass curing 매스양생 mass curve 누가곡선, 토적곡선, 토적도 mass curve method 누가곡선법 mass curve storage analysis 누가곡선 저수용량 분석 massive 괴상 mass matrix 질량 행렬 mass spectrometry 질량분석법 mass transit  대중교통(수단) mass transportation 대중교통(수단) mast crane 마스트크레인 master controller 주제어기 master plan 기본계획 mastic 매스틱 mastic asphalt 구스아스팔트, 매스틱아스팔트 match mark 매치마크 match marking 마킹, 조립부호 material damping 재료감쇠 material list 재료표 materials of construction 토목 재료 material wood 원목 mat foundation 매트기초, 전면기초 matrix structural analysis 매트릭스 구조 해석법 mature shoreline 장년기 해안 maturity 성숙도 maturity factor 성숙도계수 maturity meter 성숙도 측정기 maximum allowable deflection 최대허용처짐 maximum axial load 최대축중 maximum dry density 최대건조밀도 maximum expansion 스트로크 maximum grade 최급구배 maximum permissible concentration 최대허용농도 maximum plant discharge 최대사용수량 maximum power 최대출력 maximum probable rainfall 최대가능강우량 maximum radius of gyration 최대 회전 반지름 maximum ramp weight 최대 이동중량 maximum resistance grade 지배경사 maximum service flow 최대서비스교통량 maximum size 최대입경(골재의) maximum size of coarse aggregate 굵은골재의 최대치수 maximum specific gravity 최대비중(아스팔트 혼합물의) maximum speed 최고속도 maximum stage 최고 수위 maximum structural landing weight 최대착륙중량 maximum take-off weight 최대이륙중량 maximum temperature loading 고온기하중 maximum wave height 최대파고 maximum width to thickness ratio 최대폭두께비 Maxwell’s theorem 맥스웰 정리 MC 앰씨 mean depth 평균수심 meander amplitude 사행진폭 meander damage 사행재해 meandering 사행 meandering river 사행하천 meander length 사행길이 meander migration 사행이동 meander ratio 사행비 meander wavelength 사행파장 meander width  사행진폭 mean deviation 평균편차 mean drag coefficient 평균항력계수 mean flow 평균유량 mean higher high water 평균고고조면 mean high water 평균고조위 mean high water level 평균고수위 mean high water spring 대조평균고조위 mean hydraulic retention time 수리학적 평균체류시간 mean low water 평균저조위 mean low water level 평균저수위 mean low water spring 대조평균저조위 mean of the annual maximum  중위온도   variation temperature mean sea level 평균해면 mean section method 평균단면법 means of transportation 교통수단 mean solar time 평균태양시 mean square error 평균제곱오차 mean stress 평균 응력 mean tide level 평균조위면 mean tide range 평균조차 mean unit tractive force 평균단위소류력 mean value 평균값 mean velocity 평균유속 mean velocity formula 평균유속공식 mean water level 평균수위 mean wave height 평균 파고 measure of effectiveness 효과척도 measure to prevent rockfall 낙석방지공 mechanic 기계공 mechanical analysis 입도분석 mechanical bond 기계적부착 mechanical drying 기계건조 mechanical earth work 기계토공 mechanical execution 기계시공 mechanical float 표면마무리 mechanical joint 기계식이음 mechanical locking 기계쇄정법 mechanical shield 기계식쉴드 mechanical signal 기계신호기 mechanical stabilization 입도안정처리, 입도조정공법 mechanical tamping 기계다지기 mechanical testing screen 동력시험체 mechanism 메카니즘 mechnical switch 동력식 전환기 median 메디언, 중위수 median barrier 중앙분리대 방호책 median curbstone 중앙분리석 median lane 중앙분리대 차선 median opening 중앙분리대 개구부 median strip 중앙분리대 median water level 평수위 medium hard rock 중경암 medium load aircraft 중간 하중 항공기 medium load pavement 중간 하중 포장 melamine resin paste 멜라민수지접착제 Melan arch 멜란 아치 melilite 메리라이트 melt 용해 melting point 녹는 점 member 부재 member coordinate system 부재 좌표계 member force 부재력 member stiffness matrix 부재 강성도 행렬 membrane 막 membrane analogy 막 상사 membrane curing 피막양생 membrane process 막공정 membrane waterproof 막방수 meniscus 메니스커스 mercaptan 메르캡턴 mercury barometer 수은기압계 mercury poisoning 수은중독 merge 합류 meridian 자오선 meridian convergence 자오선수차 meridian distance 횡거 mervinite 머비나이트 mesh-cart 메쉬카트 mesh installer 메쉬인스톨러 mesh reinforcement 메시보강 mesotrophic lake 중영양호 metacenter 경심 metacentric height 경심고 metal active gas  마그용접 metal crown 메탈크라운 metal form 금속제거푸집 metal plating wastewater 도금폐수 metal touch 메탈터치 metal touch joint 메탈터치 이음 metamorphic rock 변성암 meteorological elements 기상요소 meteorological observation station 기상관측소 meteorological phenomena 기상 meteorological radar 기상레이다 meteorology 기상학 meter post 미터표 methane fermentation 메탄발효 method of characteristics 특성곡선법 method of consistent deformation 변형 일치의 방법 method of direction 방향각법 method of earth work 토공방식 method of intersection 교선법, 전방교선법 method of logarithmic spiral 대수나선법 method of member substitution 부재 치환법 method of progression 전진법 method of radiation 방사법 method of repetition 배각법 method of routine repair work 수시 수선방식 method of section 단면법 method of side intersection 측방교선법 method of single observation 단각법 method of traversing 도선법 method of undetermined coefficient 미정계수법 method of water quality examination 수질검사법 methylene blue 메틸렌 블루 methyl mercury 메틸수은 methyl parathion 메틸 파라치온 metric camera 측량용사진기 metric thread 메트릭 나사 meteorological tide 기상조 Meyer formula 메이어 공식 mica 운모 Michigan-cut 번-커트 microclimate 미기상 micrococcus 구균 micrography 마이크로조직검사 microorganism 미생물 microscopic cross inspection 마이크로조직검사 micro-streak flow 바탕흠 microtremor 상시미동 midblock 블록중간 middle area formula 중앙단면법 middle ordinate 중앙종거 middle strip 중간대 middle temperature 중위온도 mid height bridge 중로교 MIG welding 미그용접 Mil 밀 mild slope 완경사 mild steel 연강 military railway 군용철도 milk of lime 석회유 milky grass 젖빛유리 milli second detonator 밀리세컨드뇌관 mill scale 밀스케일, 흑피 mill sheet 밀쉬트 Minamata disease 미나마타병 mineral 광물 mineral composition 광물조성 mineral filler 석분, 채움재 mineral filler silo 석분 싸이로 mineralization 무기화 mineralogy 광물학 mineral spring 광천 Miner’s rule 마이너 법칙 mine surveying 광산측량 mine wastewater 광산폐수 minimum base course thickness 최소기층두께 minimum cement content 최소시멘트사용량 minimum curve length 최소곡선장 minimum grade 최소구배 minimum green time 최소녹색시간 minimum pool level 최저저수위 minimum radius of curve 최소곡선반경 minimum radius of gyration 최소 회전 반지름 minimum reinforcement ratio 최소철근비 minimum reservoir level 최저저수위 minimum shear reinforcement 최소전단철근 minimum turning radius 최소회전반경 mining railway 광산철도 mining spoil 버력 minor loss 미소손실 minor loss coefficient 미소손실계수 mirror stereoscope 거울식 입체경, 반사식 실체경, 반사식 입체경 misalignment 정합불량 miscellaneous works 잡공사 mixall 믹서올 mix design 배합설계 mixed-base crude oil 혼합기 원유 mixed flow pump 혼류펌프 mixed flow turbine 혼류수차 mixed gypsum 혼합석고 mixed-in-place construction 노상혼합방식 mixed liquor 혼합액 mixed liquor suspended solid 혼합액부유물질 mixed masonry dam 혼합 돌쌓기 댐 mixed traffic 혼합교통 mixed in place equipment 현장혼합기계 mixer 믹서 mixer efficiency 믹서효율 mixing 비비기 mixing cycle 배합주기 mixing length 혼합거리 mixing method 혼합식공법 mixing plant 믹싱플랜트, 혼합기 mixing platform 비빔대 mixing speed 혼합속도 mixing test with coarse aggregate 조립도 골재 혼합시험 mixing test with dense graded aggregate 밀입도 골재혼합시험 mixing time 배합시간, 비비는 시간, 혼합시간 mixity temperature 혼합온도(아스팔트 혼합물의) mix proportion 배합 mixture 혼합물 MLS 엠엘에스 mobile conveyance system 차량 수송 방식 mobile crane 휠기중기 mock up 실물모형 model 모델, 모형 model baseline 모형기선, 입체모형기선 model experiment 모형실험 model test 모형시험, 모형실험 mode of transportation 교통수단 moderate heat portland cement 중용열포틀랜드시멘트 modified CBR 수정CBR modified stiffness 보정 강성도 modified topeka 수정 토페카 modulation transfer function 변조전달함수 modulus of elasticity 탄성 계수 modulus of subgrade reaction 노상지지력계수 Mohorovicici’s discontinuity 모호로비치치 불연속면 Mohr-Coulomb failure criterion 모어-쿨롱의 파괴규준 Mohr’s circle 모어의 원 Mohr’s criterion 모어의 파괴규준 Mohr’s failure envelope 모어의 파괴 포락선 Mohs hardness scale 모스경도 moistening irrigation 습윤관개 moist room 습윤실 moisture content 함수비 moisture-density curve 다짐곡선 moisture equivalent 수분당량 molar concentration 몰농도 molding 성형 molding crossing 주물크로싱 mole drainage 맹암거 molton pool 용융풀 moment 모멘트 moment-area method 모멘트 면적법 moment distribution method 모멘트 분배법 moment magnification factor 모멘트 확대 계수 moment of force 힘의 모멘트 moment of inertia 관성 모멘트 moment of inertia of area 단면 2차 모멘트 moment of intermediate support 지점 모멘트 moment plate 모멘트 플레이트 momentum 운동량 momentum correction factor 운동량보정계수 momentum grade 타력구배 monitoring 감시, 계측 monitor well 감시정 monkey 몽키 monochromatic  규칙파 Monod equation 모노드식 monolith 모노리스 monolithic concerte 일체식콘크리트 monolithic surface treatment 일체식표면처리 monolithic terrazzo 일체식테라조 Mononobe formula 모노노베 공식 monorail railway 모노레일 철도 montmorillonite 몬모릴로나이트 Moody diagram 무디 도표 moored suction dredger 무어드 석션 준설선 mooring 계류 mooring basin 박지 mooring bit  계선삭 mooring bitt 계선삭 mooring buoy 계선 부표 mooring chain 계선쇄 mooring dolphin 계선 돌핀 mooring ship  계류 선박 mooring vessel 계류 선박 mooring wharf 계선안 moraine 모레인 morning glory spillway 나팔형여수로 morphology 지형학 mortar 모르터 mortar injection 모르터주입 mortar mixer 모르터 믹서 mosaic 모자이크 most efficient hydraulic section 수리상 유리한 단면 most harding steel 최경강 most probable number 최확수 most probable value 최확값 motor car 전동차 motorized grader 자주식그레이더 motor pool 모터풀 motor scraper 모터스크레이퍼, 자수식스크레이퍼 motorway 고속도로, 자동차 전용도로 moto batcher 모토배처 mould 몰드 mould plate 본뜨기판 mould plating 본뜨기 movable bearing 가동지지, 신축받침 movable bed 이동상 movable bridge 가동교 movable center frog crossing 가동 K자 크로싱 movable dam 가동댐 movable end 가동단 movable nose rail frog 가동노즈크로싱 movable rail frog 가동크로싱 movable scaffolding system 이동식비계공법 movable section 가동구간 movable stub crossing 가동둔단크로싱 movable weir 가동웨어 movement eyesight 동태시력 moving load 이동 하중 moving of track 궤도이설 MTF 엠티에프 muck 버력 mucking 버력처리 mucking car 버력차 mucking loader 버력싣는기계 mud bearer 머드베어러 mud jack 머드재크 mud jacking 머드재킹 mud pressure 퇴사압 mud pumping 분니, 펌핑 mud slab 머드슬래브 mudstone 이암 multi-annual mean 다년평균 multi-annual storage 다년저수량 multi circuit steel tower 다회선 철탑 multi-column foundation 다주식기초 multi electrode spot welding machine 다극점 용접기 multi folding plate vault 다절면 multilane highway 다차선도로 multi-layer filtration 다층여과 multi-leg intersection 다지교차 multilevel system 다층방식 multiple correlation 다중상관 multiple correlation coefficient 다중상관계수 multiple hearth incineration 다단소각로 multiple-objective planning 다목적계획 multiple operator arc welding machine 복식아크용접기 multiple-phase flow 다상흐름 multiple-purpose project 다목적사업 multiple regression 다중회귀 multiple sandwitch method 샌드위치성토공법 multiple spot welding machine 멀티플 스폿 용접기 multiple tie tamper 멀티플타이탬퍼 multiple truss 복식트러스 multiplication ratio 확대율 multiplier 승수 multipurpose dam 다목적댐 multi-spectral photo 다중파장대사진 multi element precasting 멀티엘리먼트프리케스팅 multi layer weld 다층용접 municipal waste matter 일반폐기물 muskeg 머스케그 Muskingum method 머스킹엄방법 mylonite 압쇄암, 마일로나이트 Müller-Breslau theorem 뮐러-브레스로의 정 nadir point 연직점 nail 못 nailed joint 못이음(매) nailer 네일러 nailing concrete 네일링콘크리트 name plate 명판 nappe 수맥 narrow gap welding 내로우 갭 용접, 협개선 용접 narrow gauge 협궤 narrow gauge railway 협궤철도 narrows 수로, 해협 national base map 국가기본도, 국토기본도 national control point 국가기준점 national expressway 고속국도 national expressway law 고속국도법 national railway 국유철도 native asphalt 천연 아스팔트 natural boundary condition 자연 경계 조건 natural collection 자연채집 natural drainage 자연배수 natural frequency 고유진동수 natural gas 천연가스 natural harbor 자연항 natural lightweight aggregate 천연경량골재 natural moisture content 자연함수비 natural oscillation 고유진동 natural period 고유주기 natural seasoning 자연건조 nature cement 천연시멘트 nautical chart 해도 nautical mile 해리 1) Navier-Stokes’ equations 나비에-스토크스 방정식 navigability 가항성 navigable capacity 가항용량 navigable channel 가항수로 navigable depth 가항수심 navigable river 가항하천 navigation aids 항해 표지 navigation canal 운하 navigation channel 주운 수로 navigation facility 항해 표지 navigation opening 항 입구 neap range 소조차 neap rise 소조승 neap tide 소조, 조금 nearshore 연안 nearshore circulation 연안 순환 nearshore current 연안류, 해빈류 nearshore zone 연안역 near-side stop 근측정거장 neat cement 니트시멘트 neat cement paste 니트시멘트풀 neat line 니트라인 needle leaved tree 침엽수 needle valve 니들밸브 negative bending moment 부모멘트 negative pressure 부압 negative reinforcement 부철근 negative skin friction 부마찰력 negative surge 부단파 neighboring construction 근접시공 nekton 유영생물 nephelometer 네페로 측정기 Nessler’s reagent 네슬러 시약 net duty of water 순용수량 net rainfall 초과강우량 net sectional area 순단면적 net ultimate bearing capacity 순극한지지력 network 공정도, 수송망 network equilibrium 수송망 평형 network time analysis 네트워크시간분석 neutral axis 중립축 neutral detergent 중성세제 neutral equilibrium 중립 평형 neutral flame 중성염 neutralization 중화 neutralization titration 중화적정 neutral plane 중립면 neutral shoreline 중등 해안선 neutron logging 수분검층 New Austrian Tunneling Method 신오스트리아식굴착 Newtonian fluid 뉴우톤유체 n-hexane extractable material 노말핵산 추출물 nickel steel 니켈강 Nielsen bridge 닐슨교 night soil 분뇨 NIMBY 님비 nitric monoxide 일산화질소 nitriding 질화 nitrification 질산화 nitrobacter 니트로박터 nitrogen 질소 nitrogen cycle 질소순환 nitrogen monoxide 일산화질소 nitrogenous BOD 질소비오디 nitrogen oxide 이산화질소, 질소화합물, 질소산화물 nitrosamines 니트로사민 nitrosomonas 니트로소모나스 NNSS 엔엔에스에스 nocardia 노카디아 nodal coordinates 절점 좌표 nodal equilibrium equation 절점 평형 방정식 nodal force 절점 하중 nodal point 절점 node 결절점, 노드, 절점 node diagram 마디공정도 noise 소음 noise abatement 소음방지 noise barrier 차음벽 noise control district 소음규제지역 noise control standard 소음규제기준 noise damage 소음피해 noise level 소음레벨 noise reduction coefficient 소음감소계수 noise source 소음원 noise standard 소음기준 nominal dimension 공칭치수 nominal load 공칭 하중 nominal moment strength 공칭 모멘트 강도 nominal particle diameter 공칭입경 nominal perimeter of deformed bar 공칭 둘레 nominal section area of deformed bar 공칭 단면적 nominal shear strength 공칭 전단 강도 nominal strength 공칭강도 nominal stress 공칭응력 nominated competitive bid 지명경쟁입찰 nonal tractive capacity 견인정수 noncohesive sediment 비응집성 유사 non-conservative system 비보존력계 non-consumable electrode 비용극 nondestructive inspection 비파괴 시험 non directional beacon 무지향 무선 표지시설 nonerodible channel 비침식성 수로 nonerodible velocity 비침식 유속 non-exceedance probability 비초과확률 non-frost susceptible base 동상억제층 nongas arc welding 논가스 아크용접 nongas non-flux method 논가스 논프럭스법 nonhydraulic cement 기경성시멘트 non-instrument runway 비계기 활주로 nonlinear torsion 비선형 비틂 non magnetic steel 비자성강 non-Newtonian fluid 비뉴우톤유체 nonpoint pollution source 비점오염원 non pressure welding 용융용접, 융접 nonprismatic member 변단면 부재, 비균일 단면 부재 non propeller suction dredger 비항식펌프준설선 non-skid pavement 미끄럼 방지포장 non-steady-state queueing 비안정 대기상태 non-stiffness erection method 무강성가설 nonstress erection method 무응력가설 nonsynchronous controller 비동기 제어기 non-tidal river 무조하천 non-tilting mixer 불경식 믹서 nonuniform bending 불균등 휨 non-uniform flow 부등류 non-uniform torsion 불균등 비틂 nonviscous fluid 비점성 유체 non combustible construction 불연성(구조)공사 non loaded settlement method 무하중침하공법 non pressed reinforcement 무긴장강재 no passing zone 추월금지구간 nopsae 높새 normal clean system 진행정위식 normal consolidation 정규압밀 normal danger system 정지정위식 normal depletion curve 지하수하강곡선 normal depth 등류수심, 정상수심 normal discharge 등류유량 normal distribution 정규 분포 normal fault 정단층 normal force 수직력 normal growth traffic 자연증가교통량 normality 규정농도 normalization 정규화 normalizing 소준 normal line 법선 normally consolidated clay 정규압밀점토 normal photograph 직각수평사진 normal pool level 상시만수위 normal portland cement 보통시멘트, 보통포틀랜드시멘트 normal position 정위 normal reaction 법선 반력 normal strain 수직 변형도 normal stress 수직응력 normal weight concrete 보통콘크리트 nose 노즈 nose in parking 직각주기 nose of crossing 크로싱노즈 nose of diverging end 분류단 노즈 nose offset 노즈 옵셋트 nose rail 노즈레일 no-slump concrete 노슬럼프 콘크리트 notch 노치 notch brittleness 노치취성 notched sill 톱니물받이 notch effect 노치효과 notch sensitivity 노치감도 notch sensitivity factor 노치감도계수 nozzle 노즐 no fines concrete 노파인콘크리트 nucleic acid 핵산 nugget 너게트 number of rainy days 강우일수 numerical analysis 수치 해석 numerical cadastre 수치지적 numerical control 수치제어 numerical integration 수치 적분법 nut 너트 nutrient 영양소 nut rotation method 너트회전법 N-value 엔치 object color marking 주간 장애 표지 object-free area 장애제거구역 obligate anaerobes 편성혐기성균 oblique hydraulic jump 사각도수 oblique photography 경사사진 observation 관측 observational construction control system 정보화시공 observational procedure 관측시공법 observation equation 관측방정식 observation network 관측망 observation post 관측소 observation station  관측소 observation study 관측조사 observation well 관측우물, 관측정 observatory gauging  관측소 obstacle 장애물 obstacle-free zone 장애물제거구역 obstacle lights 항공 장해등 obstacle limitation surface 장애물제한표면 obstacle of vibration 진동장해 occupation disease 직업병 ocean current 해류 ocean dumping 해양투기 ocean fairway 항로 oceanic climate 해양성 기후 ocean lane 항로 oceanography 해양학 oceanology 해양학 ocean passage 항로 octahedral plane 팔면체면   octahedral shear stress 팔면 전단 응력 odor 악취 odorant 악취발생물 odor test 취기시험 office work 내업 off-line computation 오프라인 계산 off set 오프셋, 유격 offset bend 오프셋밴드 offset keyway 톱니키 offset surveying 지거측량 offshore breakwater 이안제 off shore structure 해양구조물 offshore zone 원해역 off-street parking 노외주차 oil 기름 oil fence 오일펜스 oil filter 기름여과기 oil hydraulic actuator 유압 액튜에이터 oiling facilities 급유설비 oiling track 급유선로 oil jack 오일잭 oil paint 유성페인트(유성도료) oil pollution 기름오염 oil resistant pavement 내유성포장 oil sand 오일샌드 oil separator 기름분리조 oil storage bin 저유조 oil storage tank 저유조 oil tempered wire 오일템퍼드와이어 oil well cement 유정용시멘트 oligosaprobien 빈부수성 수역 oligotrophic lake 빈영양호 oligotrophy 빈영양화 one dimensional member 일차원 부재 one-point method 일점법 one set observation 일대회 one side welding 일면용접 one-way preference street 일방우선도로 one way street 일방통행로 on-line computation 온라인 계산 onshore current 향안류 onshore wind 향안풍 on-street parking 노상주차 open bidding 공개입찰 open caission 우물통 기초, 오픈케이슨 open channel 개수로 open channel flow 개수로 흐름 open circuit grouting 오픈서킷그라우팅 open competitive bid 공개경쟁입찰 open competitive bidding 일반경쟁입찰 open cut 개굴식공법 open cut method 개착공법, 오픈컷공법 open cut tunnelling 절개터널공사 open ditch 개거 open end pile 개단말뚝, 선단개방말뚝 open-graded asphalt concrete 개립도 아스팔트 콘크리트 open hearth furnace 평로 opening in form 일시적개구 open joint 개구절리 open levee 열린둑 open sea 공해 open section 개단면 open shield 개방식 쉴드 open spandrel arch 오픈 스팬드럴 아치 open tank process 상압주입법 open track 주행선 open traverse 개다각형, 개방트래버스 open-V runway 브이형 활주로 open wagon 무개차 open web girder 띠판조립보 open cut tunnel 개굴식터널 operating speed 운행속도 operating weight 운항자중 operation 운전 operational analysis 운영분석 operational dalay 운전지체 operational delay 운영지체 operational parking 조업주차 operation cost 운전경비 operation facilities 운전설비 opposite platform 대향 승강장 optimum asphalt content 최적아스팔트량 optimum moisture content 최적함수비 optimum structure 최적 구조물 orange peel bucket 오랜지필버킷 ordinary station 보통역 ordinary track 일반궤도 ore harbor 광석항 ore terminal 광석 부두 organic carbon 유기탄소 organic loading 유기물부하 organic nitrogen 유기질소 organic silt 유기질 실트 organic wastewater 유기폐수 organization line 조성선 organization of surveying operation 측량작업기관 organization of surveying plan 측량계획기관 organo chlorine pesticide 유기염소계농약 organo mercurious fungicide 유기수은살균제 organo phosphorus insecticide 유기인계살충제 orientation 표정 oriented structure 배향구조 orifice 오리피스 orifice meter 관오리피스, 오리피스미터 original surface 생지 original vertical datum 수준원점 origin-destination study 기종점 조사 orographic precipitation 산악형강수 orthogonal anisotropy 직교이방성 orthometric height 정표고 orthophotograph 정사사진 orthophoto map 정사사진지도 orthoprojection 정사투영 oscillating jump 진동도수 oscillation 진동 outcrop 노두 outcrop reconnaissance 지질답사 outer harbor 외항 outer orientation 외부표정 outer rail 외궤 outflow hydrograph 유출수문곡선 outlet 방류구, 방수구, 배수구 outlet loss 출구손실 outlet pipe 인출관 outlet works 방류공 out plane buckling 면외 좌굴 outside of station 정거장외방 outside plate 몸통판 outstanding leg 돌출 랙 oven 건조기 1) overall excavation 온통파기 overall(travel) speed 구간속도 overall stability 전반적인 안정성 overall tamping of ballast 총다지기 overbank flow channel 홍수터 over break 더파기, 여굴 over bridge 가도교, 과선교 overcompaction 과다짐 overconsolidated clay 과압밀점토 overconsolidation 과압밀 overconsolidation condition 과압밀상태 overconsolidation ratio 과압밀비 overdraft 과잉양수 over exploitation 과잉취수량 overflow 월류 overflow dam 무넘이댐, 월류댐 overflow load 월류부하 overflow pipe 오버플로우 파이프 overflow rate 월류율 overflow stand pipe 월류입관 overhanging beam 내민보 overhead clearance 형하고, 형하공간 overhead cost 간접비, 관리비 overhead crane 천정크레인 overhead line 가공선 overhead position of weld 상향용접 overhead railway 고가철도 overhead sign 문형표지 overhead travelling crane with crab 크래브식 천정크레인 overhead trolley line 가공전차선 overhead welding 위보기용접 overland flow 지표유하수 overlap 오버랩, 중복도 overlapping process 겹첩공정 overlay 덧씌우기, 오버레이 overlay welding 덧살용접 over-line bridge 과선교 overpass 고가교, 과선교 over-reinforced beam 과다철근 보, 과보강 보 over run 과주로 oversand 오버샌드 overstretching 오버스트레칭 over track station 선상역 overturning 전도 overturning derailment 전복탈선 overturning moment 전도 모멘트 over compaction 오버콤팩션 over vibration 오버바이브레이션 owner 발주자 oxidant 산화제, 옥시던트 oxidation ditch 옥시데이션 디치 oxidation-reduction potential 산화환원전위 oxidation smog 산화스모그 oxiding flame 산화염 oxy-acetylene welding 산소아세칠렌용접 oxy-arc cutting 산소아크절단 oxygen aeration 산소폭기 oxygen deficiency 산소결핍 oxygen demand 산소요구량 oxygen sag curve 산소부족곡선 oxygen saturation 산소포화량 oxygen transfer 산소전달 oxyhydrogen welding 산수소용접 ozon 오존 ozonation 오존처리 pacing 보측 packaged concrete 팩케이지콘크리트 packed column 충진탑 packer anchor method 파카형 앵커공법 packer grouting method 파카그라우팅 공법 packer head process 패커헤드방식 packing 패킹 pail pack 페일 팩 paint coat 페인트 코오트 paint film 도막 painting 페인팅 painting area 도장면적 p-alkalinity 피알칼리도 PAN 판 2), 피에이엔 pan coefficient 증발접시계수 pan conveyor 팬컨베이어 panel 격간, 패널 panel point 격점, 절점 panel shear 패널 전단력 panel strip 패널스트립 pan mixer 팬믹서 pantagraph 팬터그래프 panta graph slipper 팬터마모판 paper drain method 페이퍼드레인공법 paper form 종이거푸집 parabolic arch 포물선아치 paraffin-base crude oil 파라핀기 원유 parallax 시차 parallax difference 시차차 parallel chord truss 평행현 트러스 parallel joint 상대식이음매 parallelogram of force 힘의 평행사변형 parallel parking 평행주기, 평행주차 parallel runway 평행 활주로 parallel taxiway 평행 유도로 parameter of clothoid 클로소이드의 파라미터 parapet 패러핏 parapet wall 흉벽 parathion 파라티온 para-transit 준대중교통(수단) parcel surveying 일필지측량 parent rock 모암 park and ride 파크 앤드 라이드 park-and-ride system 주차환승체계 parkerizing process 파크라이징 parking 주차 parking accumulation 주차대수 parking duration 주차시간 parking load 주차부하 parking lot 주차장, 평면주차장 parking meter 주차메타 parking occupancy 주차장점유율 parking program 주차계획 parking study 주차조사 parking turnover 주차회전율 parking volume 주차량 Parshall flume 파아샬 수로 partial cloverleaf interchange 불완전 클로버형 입체교차 partial contract 분할도급 partial duration series 부분기간계열 partial grade separation 불완전 입체교차 partially irrigated rice paddy 수리불안전답 partially rigid joint 부분강성절 partial penetration 부분용입 partial prestressing 부분프리스트레싱, 파셜프리스트레싱 partial shoulder 반 길어깨 partial side wear 편마모 partial tide 조석 성분 particle 입자 particle size distribution 입경분포 parts drawing 부품도 parts list 부품표 parts number 부품번호 pass 패스 passage of passengers 여객통로 passenger car 객차, 승용차 passenger car equivalent factor 승용차환산계수 passenger car unit 승용차환산대수 passenger facilities 여객설비 passenger harbor 여객항 passenger service time 승하차시간 passenger terminal 여객 터미널 passenger train 여객열차 passing lane 추월차선 passing place 대피소 passing sight distance 추월시거 passing signal 통과신호기 passive earth pressure 수동토압 passive state 수동상태 pass point 종접합점, 패스포인트 patching 패칭 path dependent 경로 의존성 pat paper test 팻 페이퍼 시험 pattern bolt 패턴볼트 pattern crack 패턴크랙 pattern selection method 유형선택방식 pavement 포장 pavement breacker 포장파쇄기 pavement classicfication number 포장등급번호 pavement management system 포장관리체계 pavement marking 노면표시 paving 포설 paving with forms 셋트폼 공법 pay line 지불선 payload 유상탑재량 PC 피씨 PCB 피씨비 peak factor 피크율 peak flood 첨두홍수량 peak hour 첨두시간 peak hour factor 첨두시간계수 peak hourly volume 첨두시간교통량 peak load 첨두부하 peak load plant 첨두부하발전소 peak load station 첨두부하발전소 peak shear strength 최대전단강도 peak stress 최대응력 pearlite 퍼라이트 pedestal 받침대 pedestal pile 페데스탈말뚝 pedestrian bridge 보도교, 인도교 pedestrian count 보행자 조사 pedestrian crossing bridge 횡단보도교 pedestrian mall 보행자몰 pedestrian road 보행자 전용도로 pedestrian speed 보행속도 pedestrian street 보행자도로 pedestrian system 보행자교통체계 peeling 필링 pegmatite  페그마타이트 pelagic region 원양 구역 pelagic zone 원양 구역 pelletized aggregate 조립형골재 pelletizer 조립기 pelton turbine 펠톤 수차 penetrating test 침투탐상시험 penetration 용입, 침입도 penetration after heating 증발후 침입도 penetration depth 근입깊이 penetration index 침입도 지수 penetration macadam in hot 가열침투식공법 penetration ratio after heating 증발후 침입도비 penetration test 관입시험 penetrator 페네트레이터 penetrometer 관입시험기, 투과도계 penolithic 페노리틱 penstock 수압관, 팬스톡 perceived travel cost 인지통행비용 percentage air void 공극률 percentage of elongation 신장율 percent fines 미립량 percent shear 전단파면율 perception reaction time 지각 반응시간 percolated water 복류수 percolation 침루 percolation gauge 침루계 percolation loss 침루손실 percussion drilling 충격식착정 percussion test 충격시험 percussion welding 가압용접 perennial stream 항류(하)천 perfect automatic batch plant 전자동배치플랜트 perfect fluid 완전유체 perfectly plasticity 완전 소성 perfectly plastic material 완전 소성 재료 perforated beam 유공보 perforated breakwater 유공방파제 perforated drain pipe 유공관 performance service index 공용지수 performance test 성능시험 perimeter of reinforcement 철근주장 period 주기 1) periodical repair system 정기수선방식 periodic current 주기성 흐름 periodic function 주기 함수 periodic wave 주기파 period of pulsation 맥동주기 permanent bridge 영구교 permanent count 상시조사 permanent current 항류 permanent deformation 영구 변형 permanent form 퍼머넌트폼 permanent hardwater 영구경수 permanent lining 영구 라이닝 permanent monument 영구표지 permanent stream 영구하천 permanent wilting point 영구시들음점 permeability 투수능 permeability test 투수시험 permeable layer 투수층 permill 천분율 permillage 천분율 permissible deficiency of elevation 캔트부족량 permissible dose 허용선량 permissible limit 허용한도 permissible tractive force 허용소류력 permitted turns 비보호회전 permutite 퍼뮤티트 peroxide 과산화물 perpendicular anisotropy 직교이방성 personal rapid transit 개인전용로대중교통(수단) person trip survey 퍼슨 트립 조사 perspective drawing 투시도 2) PERT 퍼트 PERT/cost 퍼트코스트 PERT/man power 퍼트맨파워 PERT/time 퍼트타임 pesticide 농약 petrofabrics 구조암석학 petrography 암석 분류학 petroleum asphalt 석유아스팔트 petrology 암석학 pH 페하, 피에이치 phase 현시 phase difference 위상차 phase inequality 위상부등 phase lag 위상 지각 phase speed 전파 속도 phase velocity 위상속도 phenol 페놀, 페놀류 phenolphthalein alkalinity 페놀프탈레인알칼리도 phon 폰 phosgene 포스겐 phosphate 인산염 phosphating 인산염처리 phospher bronze 인청동 phosphoric acid 인산 phosphoric acid cleaning 인산청정 photochemical oxidants 광화학적 산화제 photochemical reaction 광화학 반응 photochemical smog 광화학 스모그 photo coordinates 사진좌표 photogrammetry 사진측정학 photographic surveying 사진측량 photo interpretation 사진판독 photolysis 광분해 photo map 사진지도 photo mosaic map 집성사진지도 photosynthesis 광합성 phreatic aquifer 자유대수층 physical treatment 물리적 처리 physical weathering 물리적풍화 phytometer 증산계 phytoplankton 식물플랑크톤, 피토플랑크톤 PIARC 피아크 picket formula 피켓트공식 pickling 산세척 pier 교각, 수문주, 잔교, 피어 pier-finger concept 교각지주방식 pier foundation 피어기초 pierhead line 부두 법선 pier lead 방파제 부두 pier-satellite concept 교각위성방식 piezometer 간극수압계, 위압수두계, 피에조메타 piggy back traffic 피기 백 수송 pigment 안료 pile 말뚝 pile breakwater 말뚝식 방파제 pile cap 말뚝캡 pile dike revetment 말뚝식 호안 pile driver 파일드라이버 pile driving 말뚝박기 pile driving boat 말뚝박는배, 항타선 pile driving formula 항타공식 pile driving test 말뚝박기시험 pile dyke 말뚝수제 pile extractor 말뚝뽑는기계, 파일 익스트랙터, 항발기 pile foundation 말뚝기초 pile group efficiency 군말뚝효과 pile hammer 말뚝해머 pile hoop 항륜 pile loading test 말뚝재하시험 pile structure 말뚝 구조물 pile-supported structure 말뚝지지 구조물 pile tip plugging effect 선단폐색효과 pilot hole 유도갱 pilot nut 파일롯 너트 pilot tunnel 시굴터널, 파일롯 터널 pilot tunnel excavation method 선진도갱공법 pilot tunnel method 도갱선진공법 pin 핀 1) pin bearing 핀받침 pin connected construction 핀구조 pin connection 핀연결 pin hole 핀구멍, 핀홀 pin joint 핀이음 pink noise 핑크노이즈 pin truss 핀 트러스 pipe 관 pipe bender 파이프 밴더 pipe connection 관거접합 pipe cooling 관로식냉각 pipe cutter 파이프 절단기, 파이프커터 pipe drain 관암거 pipe duct 배관거 pipe line 관로, 관수로, 파이프라인 pipe locator 매설관탐지기 pipe network  관망 pipe roof method 파이프 루프 공법 pipe scaffolding 파이프비계 piping 관공작용 piping drawing 배관도 piston drill 피스톤드릴 pit 피트 pitch 구배, 피치 pitch diameter 유효지름 pitching 돌붙임, 피칭 pit gravel 산자갈 Pitot-static tube 정압피토관 Pitot tube 피토관 pitting 점식, 패임, 피팅 pitting corrosion 공식 pit water 광산폐수 pivot bearing support 피봇받침 plagioclase 사장석 plain sedimentation 보통침전 plain suction dredger 플레인펌프준설선 plan 계획안 plane bearing 평면받침 planed edge 마무리연 plane frame 평면 뼈대 plane of bending 휨 평면 plane of structure 구면 plane of tops of running rail 레일면 plane-orientation 방향 맞추기 planer 대패, 플래너 plane sliding 평면파괴 plane strain 평면 변형 plane stress 평면 응력 plane structure 평면 구조물 plane-table 평판 plane-table surveying 평판측량 plane truss 평면 트러스 planimeter 구적기, 플라니미터 plankton 플랑크톤 plankton net 플랑크톤 네트 planning balance sheet method 계획 대차대조표 방식 plant 플랜트 plant discharge 사용수량 plant factor 설비이용률 plant mixing 플랜트혼합방식 plasma 프라즈마 plasma arc 플라즈마 아크 plasma arc cutting 플라즈마 아크 절단 plasma arc welding 플라즈마 용접 plasma spraying 플라즈마 스프레이 plaster 플라스터 plasterer 미장공 plaster of paris 소성석고 plaster work 미장공사 plastic 플라스틱 plastic bending 소성 휨 plastic buckling 소성 좌굴 plastic concrete 소성콘크리트 plastic crack 소성균열, 점성균열 plastic design 소성 설계법 plastic displacement 소성변위 plastic equilibrium 소성평형 plastic fire clay 점성내화점토 plastic flow 소성류, 소성유동 plastic flyash 소성플라이애쉬 plastic foam 발포수지재료 plastic hardening 소성경화 plastic hinge 소성 힌지 plasticity 성형성, 소성 plasticity index 소성지수 plasticizer 가소제 plastic limit 소성한계 plastic material 소성 재료 plastic moment 소성 모멘트 plastic mortar 소성모르터 plastic potential 소성 포텐셜 plastic region 소성 영역 plastic shringkage 소성수축 plastic shrinkage crack 플라스틱 수축 균열 plastic soil cement 플라스틱 소일 시멘트 plastic strain 소성 변형률 plastic torsion 소성 비틂 plate 널, 판 1), 평판 plate bearing test 평판재하시험 plate buckling 평판 좌굴 plate girder 판형, 플레이트 거더 plate glass 판유리 plate grab 플레이트그래브 plate tectonics 판구조론 plate vibraing compactor 평판식진동다짐기 platform 승강장 plating 도금 platoon dispersion 차량군분산 platoon movement 차량군이동 platy joint 판상절리 plotter 도화기 plotting 도화 plough 플라우 plough blade 플라우판 plug 플러그 plug weld 플러그용접 plug welding 전용접 plum 조석 1) plumb  다림추 plumber 배관공 plumbing 배관, 수직도 plumbing adjustment work 교정작업 plumb line 연직선 plutonic rock 심성암 ply 플라이 plywood 베니어합판, 합판 pneumatic applied fire-resistance covering 분무내화피복 pneumatic breakwater 공기 방파제 pneumatic caisson 공기케이슨, 잠함 pneumatic caisson foundation 공기케이슨기초, 잠함기초 pneumatic caisson method 공기케이슨공법 pneumatic concrete placing machine 뉴매틱콘크리트타설기 pneumatic conveyor 시멘트 공기수송장치 pneumatic drill 공기착암기 pneumatic dump wagon 타이어덤프카 pneumatic hammer 공기해머, 뉴매틱해머 pneumatic riveter 뉴매틱 리베터 pneumatic tie tamper 공기타이탬퍼 pneumatic tire roller 고무타이어롤러, 타이어롤러 pneumoconiosis 진폐 pocket cone penetrometer 휴대용콘관입시험기 point-anchored rock bolt 선단정착형 록볼트 point anchoring with resin 선단 레진정착 point(end) bearing pile 선단지지말뚝 pointing 시준 point load 점하중 point of intersection 교점 point of switch 분기기 시단 point rainfall 점강우량, 점우량 point resistance 분기기 저항 point selection 선점 point switch 첨단포인트, 포인트 poise 포아즈 poisonous gas 유독가스 poisonous wastewater 유독폐수 Poisson’s ratio 포아송비 polar coordinate 극좌표 polar moment of inertia of area 단면 극 2차 모멘트 polar orbit 극궤도 polar solvent 극성용매 polder 간척지 polder dike 간척 제방 pole 극점, 폴 poling method shunting 포링입환 poling yard 폴링조차장 polio virus 폴리오바이러스 pollutant 오염물질 pollutant advection dispersion 오염물이송확산 pollution 공해, 오염 pollutional load 오염부하량 pollution of electromagnetic wave 전자파공해 pollution source 오염원 polychlorinated biphenyl 폴리염화비페닐 polyelectrolyte 고분자전해질 polyethylene 폴리에틸렌 polyethylene fiber 폴리에틸렌섬유 polygon 폴리곤 polymer 중합체, 폴리머 polymer cement concrete 폴리머시멘트콘크리트 polymer coagulant 고분자응집제 polymerization 중합 polynomial adjustment 다항식조정법 polyurethane 폴리우레탄 polyvinyl chloride 폴리염화비닐 polyvinyl-chloride pipe 염화비닐관 pondage 조정지 pond environmental standard 호소환경기준 ponding 담수 2) ponding area 담수면적 pontoon 폰툰 pontoon barge 폰툰바지 pontoon bridge 부교 pontoon erection 부선식 가설 poor drainage 배수불량 poor grading 불량입도 poor mix 빈배합 poor mix concrete 빈배합콘크리트 popular sation 민자역사 pop out 팝아우트 pore air 간극공기 pore air pressure 간극공기압 pore fluid 간극유체 pore pressure 간극압 pore pressure coefficient 간극압계수 pore water 간극수 pore water head 간극수두 pore water pressure 간극수압 pore water pressure coefficient 간극수압계수 porewater pressuremeter 간극수압계 porosity 간극률, 공극률, 포로시티 porosity of aggregate 골재공극률 porous asphalt 투수성 아스팔트 porous brick 다공질벽돌 porous concrete 다공질콘크리트 porous material 다공질흡음재 porous media 다공성매질 porous pavement 투수성 포장 porous plate 다공판 porous slab 다공질슬래브 porphyrute 반암 Porro-Koppe’s principle 포로-코페의 원리 port 항, 항구, 항만 portable asphalt plant 이동식아스팔트플랜트, 포터블아스팔트플랜트 portable bridge 이동교 portable compressor 이동식공기압축기 portable cone penetrometer 휴대용콘관입시험기 portable conveyer 포터블컨베이어 portable crushing plant 이동식쇄석플랜트 portable dredger 조립식준설선 portable skid resistance tester 포터블 스키드 레지스턴스 테스터 portal 갱구, 포탈 portal bracing 교문브레이싱 portal jib crane 문형 지브 크레인 portal of tunnel 갱문 port facilities 항만 시설 portland blast furnace slag cement 포틀랜드고로시멘트 portland cement 포틀랜드 시멘트 portland cement association method 피씨에이 법 portland cement paint 포틀랜드시멘트페인트 portland pozzolan cement 포틀랜드포졸란시멘트 portland slag cement 슬래그시멘트 port railroad 항만 철도 positioner 포지셔너 position light signal 등렬식신호기 positive definite matrix 양정치 행렬 positive reinforcement 정철근 possible capacity 가능용량 possible maximum precipitation 예상최대강수량 post 지주 post chlorination 후염소처리 post erection 지주식가설 post heating 후열 post support 받침기둥 post-tensioning 포스트텐셔닝 post-tensioning system 포스트텐셔닝방법 potassium permanganate consumption 과망간산칼륨 소비량 potential energy 위치 에너지 potential evaporation 잠재증발 potential evapotranspiration 잠재증발산 potential head 위치수두 potential pollutant 잠재오염물 potential transpiration 잠재증산 potential yield 가능채수량 pot hole 포트 호울, 폿홀 powder cutting 분말 절단 powdered activated carbon 분말활성탄 power buggy 동력수레 power hammer 동력해머 power level 파우어 레벨 power shovel 동력셔블, 파워셔블 power source of electric welding 용접전원 power station 발전소 power unit 기관차 pozzolan 포졸란 pozzolan reaction 포졸란반응 PPB 피피비 PPM 피피엠 PPP 피피피 PPT 피피티 practical capacity 실용용량 Pratt truss 프래트 트러스 preaeration 전폭기 prebended wire strand 프리벤디드 와이어 스트랜드 preboring 선행보링 precast 프리캐스트 precast beam 프리캐스트 보 precast concrete 기성 콘크리트, 프리캐스트콘크리트 precast concrete pavement 프리캐스트 콘크리트포장 precast concrete pile 기성콘크리트말뚝, 프리캐스트 콘크리트말뚝 precast member 프리캐스트부재 precast pile 기성말뚝 precast segmental method 프리캐스트세그먼트공법 pre-chlorination 전염소처리 precipitable water 가능강수량 precipitation 강수 precipitation 강우량 precipitation day 강수일 precipitation excess 초과강수량 precipitation intensity 강수강도 precipitation station 우량관측소 precision 정도, 정밀도 precision approach path indicator 진입각 지시등 precision approach radar 정밀진입레이다 precision approach runway category Ⅰ 카테고리Ⅰ 정밀접근 활주로 precision approach runway category Ⅱ 카테고리Ⅱ 정밀접근 활주로 precision approach runway category Ⅲ 카테고리Ⅲ 정밀접근 활주로 precision-instrument approach runway 정밀 계기접근 활주로 precoated chippings 프리코오트 치핑 precoated macadam 프리코오트 머캐덤 precoat filtration 프리코트여과 precoat macadam method 프리코트머캐덤공법 preconsolidation 선행압밀 preconsolidation pressure 선행압밀응력 precooling 사전냉각, 예비냉각, 프리쿨링 predator 포식자 predominant frequency 탁월진동수 predominant period 탁월주기 predominant-use theory 중점사용도 이론 prefabricated bridge 조립(식)교량 prefabricated parallel wire strand 평행케이블용 스트랜드 prefabrication 지상조립 prefiring 프리파이어링 preformed foam 기성기포 preheat 예열 preliminary design 기본설계 preliminary dewatering 준비배수 preliminary investigation 예비조사 preliminary treatment 전처리 pre-loading method 선행재하공법, 프리로딩 공법 premature crack 초기 균열 prepacked concrete 프리팩트콘크리트 prepacked concrete pile 프리팩트콘크리트말뚝 prepacked soil concrete pile 프리팩트소일콘크리트말뚝 preparatory plan 예비계획 preparatory work 준비공사 present serviceability index 서비스지수 preservate 방부제 preserved thickness 여유두께 presheeting 선행널말뚝 preshrunk 프리시렁크 press 프레스 pressure aquifer 압력대수층, 피압대수층 pressure between rail and tie rail pressure 레일압력 pressure bulb 압력 구근 pressure cell 압력셀 pressure distribution 압력분포 pressure drag 압력항력 pressure energy 압력에너지 pressure filter 가압여과기 pressure floatation 가압부상법 pressure gage 압력계 pressure gradient 압력경사 pressure ground water 피압지하수 pressure head 압력수두 pressuremeter 공내재하시험기 pressure pipe 보통압관, 압력관 pressure proof test 내압시험 pressure reducing valve 감압밸브 pressure sensitive adhesion 점착 pressure tunnel 압력터널 pressure-void ratio curve 압력-간극비 곡선 pressure wave 압력파 prestress 프리스트레스 prestressed concrete 프리스트레스트 콘크리트 prestressed concrete beam 프리스트레스트 콘크리트 보 prestressed concrete pavement 프리스트레스트 콘크리트 포장 prestressed concrete pile 프리스트레스트 콘크리트 말뚝 prestressed concrete sheet pile 프리스트레스트 콘크리트 널말뚝 prestressed concrete sheet pile 피에스씨 널말뚝 prestressed concrete sleeper 피에스씨 침목 prestressed concrete tie 피에스씨 침목 prestressed dam 프리스트레스트 댐 prestressing 프리스트레싱 prestressing steel 프리스트레싱 강재 prestressing steel bar 프리스트레싱 강봉 prestressing steel strand 프리스트레싱 강연선 prestressing wire 프리스트레싱 강선 prestretching 프리스트레칭 pretensioning system 프리텐셔닝 방법 prevailing wave 탁월파 prevention against falling stone 낙석방지 prevention fence for falling stones 낙석방지울타리 prevention for land slide 사태방지 pre-wetting 프리웨팅 prey 피식자 preboring process 프리보링법 pre fabricated member 프리패브부재 pre fabrication method 프리패브리케이션공법 preload system 프리로드공법 Price(current) meter 프라이스 유속계 prick point 자침점 Priestman dredger 프리스트맨 준설선 primary air 일차공기 primary consolidation settlement 일차압밀침하 primary lining 일차 라이닝 primary member 일차부재 primary observation station  기준관측소 primary observatory 기준관측소 primary plant 일차프랜트 primary pollution 일차오염 primary rolling 일차전압 primary runway 주 활주로 primary sedimentation 일차침전 primary state of ground pressure 초기지압 primary stress 일차 응력 primary structure 기본 구조물 primary surface 기본표면 primary tension failure 초기인장파괴 prime coat 프라임코트 primer 프라이머, 하도장재 primercoating 초벌바름 principal axes for area 단면의 주축 principal axes of strain 변형도의 주축 principal axis 주축 principal curvature 주곡률 principal distance 주점거리 principal lunar semidiurnal component 주태음반일주조 principal moment of inertia 주 관성 모멘트 principal moment of inertia of area 주 단면 2차모멘트 principal of superposition 중첩의 원리 principal plane 주응력면 principal point 주점 principal solar semidiurnal component 주태양반일주조 principal strain 주변형 principal stress 주응력 principal stress ratio 주응력비율 principle main track 주본선 principle of conservation of energy 에너지 보존 법칙 principle of least work 최소일의 원리 principle of minimum potential energy 최소 포텐셜 에너지 정리 principle of superposition 겹침의 원리 principle of virtual work 가상일의 원리 prismatic member 등단면 부재 prismoidal formula 각주공식 prism storage 태형저류 private railway 사유철도 private siding 전용선 probabilitic process 확률과정 probability of exceedance 초과확률 probability of occurrence 생기확률 probability of safety 안전 확률 probability plot 확률도시 probable maximum flood 가능최대홍수량, 최대가능홍수량 probable maximum precipitation 가능최대강수량, 최대가능강수량 proceed signal 진행신호 process capability chart 공정능력도 process water 공정수 product moment of inertia of area 단면 상승 모멘트 professional engineer of land survey 측지기술사 profile 종단면도 profile guage 굴곡측정기 profile index 프로파일 인덱스 profile meter 프로파일 미터 progression 연속진행 progressive signal control system 진행식 신호체계 progressive wave 진행파 prohibited area 비행 금지구역 prohibitory sign 금지표지 project 사업 projection 투영 projection welding 프로젝션 용접 proof rolling 프루프롤링 proof-stress wall 내력벽 propagation law of error 오차전파법칙 propane 프로판 propeller fan 프로팰러팬 propeller pump 프로펠러 펌프 propeller turbine 프로펠러 수차 propeller-type current meter 프로펠러 유속계 proportional limit 비례 한도 proportional weir 프로포셔널 웨어 proportioning of section 단면 산정 proposal 제안서 propped cantilever beam 고정단 단순보 protected lowland 제내지 protection device for railway crossing 건널목방호설비 protection signal 엄호신호기 protector 방호시설 protoplasm 원형질체 prototype 원형 protozoa 원생동물 provisional contract 가계약 proxy variable 대리변수 PRT 피알티 pseudo-elastic region 의사 탄성영역 pseudoscopic vision 역입체시 PS steel 피에스강재 PS steel bar 피에스강봉 PS strand 피에스강연선 PS wire 피에스강선 public liability 공공책임 public nuisance 공해 public project 공공사업 public relation and hearing 홍보 및 공청회 public sewerage 공공하수도 public surveying 공공측량 public transportation 공공교통 public utilities 공공서비스설비 pudding 푸딩 puff model 퍼프 모형 pug mill 퍼그밀 pugmill mixer 퍼그밀 믹서 pulley 도르래 pull grader 견인식그레이더 pullout capacity of pile 말뚝의 인발저항력 pull-out resistance 인발저항 pull-out test 뽑힘시험, 인발시험 pulsating load 편진하중 pulsation welding 펄세이션용접 pulsed arc welding 펄스트 아크용접 pulsometer pump 고동펌프 pulverizer 미분쇄기 pulverulent body 미분체 pulvi mixer 펄비믹서 pumice 경석, 부석 pump 양수기, 펌프 pump characteristic curve 펌프 특성곡선 pumpcrete 펌프크리트 pumped storage 양수저수지 pumped-storage power generation 양수발전 pumped-storage power plant 양수발전소 pump efficiency 펌프 효율 pumping 펌핑 pumping drainage 펌프배수 pumping head 양정 pumping station 양수장, 펌프장 pumping test 양수시험, 현장양수시험 punch 펀치 punching 펀칭 punching machine 천공기 punching shear 펀칭전단, 펀칭전단기 punching shear failure 관입전단파괴 pure bending 순수 휨 pure oxygen activated sludge 순산소활성슬러지 pure shear 순수 전단 pure torsion 순수 비틂 push and pull shunting 돌방입환 push dozer 푸시도저 putty 퍼티 pyramidal wave 삼각파 pyridine 피리딘 pyrite 황철석 pyroclastic rock 화산쇄설암 pyroxeneaugite 휘석 QS 큐에스 quadrilateral finite element 사각형 유한요소 quadrilaterals 사변형망 quadruple line  복복선 quadruple track 복복선 qualitative analysis 정성분석 quality certification system 품질인증제도 quality control 품질관리 quantitative analysis 정량분석 quantity surveyor 책임측량사 quarry 채석장 quarrying 채석 quarry run aggregate 석산골재 quartering 사분법 quartz 석영 quartzite 규암 quartzporphyry 석영반암 quay 계선안 quay wall 안벽 queen post truss 퀸포스트 트러스 quench crack 담금질 균열 quenched and tempered steel 조질강 quenching 담금질 quenching aging 담금질시효 queue length 대기행렬 길이 queuing theory 대기행렬이론 quick absorption test 급속흡수율시험 quick clay 퀵클레이 quick lime 생석회 quicklime pile method 생석회말뚝공법 quick sand 퀵샌드 quick setting cement 급결시멘트 quick UU-test 급속삼축시험 rack 랙 rack bar 보호판 radial displacement 반경 방향 변위 radial strain 반경 방향 변형도 radial stress 방사방향응력 radian 라디안, 호도 radiation hazard 방사선 장해 radioactive contamination 방사능 오염 radioactive indicator 방사성 지시약 radioactive isotope 방사성 동위원소 radioactive logging 방사능검층 radioactive substance 방사성 물질 radioactive tracer 방사성 추적자 radioactive wastewater 방사성 폐수 radioactivity 방사능 radiograph test 방사선 투과검사 radio isotope sand 동위원소모래 radio navigational aids 항공보안 무선시설 radiosonde 라디오손데 radius of curvature 곡선 반경 radius of gyration of area 단면 회전 반지름 radius of influence 영향반경 radius of lead curve 리드반경 radius of relative stiffness 강비반경 radual-decrease distance diminishing 캔트체감거리   distance rahmen 라멘 rail 레일 rail accessories 레일부속품 rail anchor 레일앵카 rail base 레일저부 rail batter in joint 이음매처짐 rail beam 레일빔 rail bender internal rail stress 레일 내부응력 rail bending device 레일굴곡기 rail bond 레일본드 rail brace 레일 버팀쇠 rail break  레일절손 rail brealagec  레일절손 rail carrier 레일운반기 railcar shed 동차고 rail change  레일갱환기 rail creepage 레일복진, 복진 rail creeping 레일복진 railcut on sleeper 레일박힘 rail defect detector car 레일탐상차 rail detect detector  레일탐상기 rail drill  레일천공기 rail drilling machine 레일천공기 rail fastening 레일체결 rail fastening device 레일체결장치 rail flange  레일저부 rail flaw detector instrument 레일탐상기 rail foot 레일저부 rail for re-use 재용레일 rail girder 레일거더, 레일보 rail grinding corragation 파상마모 rail head 레일 두부 rail head lubricator 레일 도유기 rail joint 레일이음매 rail joint accessories 이음매 부속품 rail joint expander 유간 정정기 rail joint rectifier 유간검사 rail joint work 이음매작업 rail laying 레일부설 rail profile 레일단면 rail profile recorder 레일 단면측정기 rail renewal(or renewing) 레일갱환 rail replacer 레일갱환기 railroad 철도 railroad accident 운전사고 railroad crossing 건널목 rail rupture 레일절손 rail sawing device 레일절단기 rail section  레일단면 rail shifting 레일전환 rail track 궤도 rail tranfering 레일진체 rail transit 철도대중교통(수단) railway 철도 railway bridge 철도교 railway building charter 철도부설권 railway building concession 철도부설권 railway construction 선로건설 railway crossing 건널목 railway crossing accident 건널목사고 railway engineering 철도공학 railway improvement 철도개량 railway line 선로 railway planning 철도계획 railway post 선로제표 railway work 선로작업 rain-day 강우일 rain drain 집수거 rainfall 강우 rainfall distribution 강우분포 rainfall excess 초과강우량 rainfall hyetograph 우량주상도 rainfall intensity 강우강도 rainfall intensity-duration 강우강도-지속기간-빈도곡선 rainfall intensity-duration curve 강우강도-지속기간곡선 rainfall intensity pattern 강우강도형 rainfall intensity return period 강우강도 재현기간 rainfall mass curve 누가우량곡선 rainfall maximization 강우최대화 rain gauge 강우계, 우량계 rain gauge shield 강우계 바람막이 rain map 우량도 rain period 우기 rain print 우흔 rain recorder 자기우량계 rain simulator 강우모의장치 raised beach 융기 해안 rake 레이크, 쇠갈퀴 ram 램 rammer 달구, 래머 ramming 달구질 ramp control 램프통제 ramp metering 램프조절 random arrival 임의 도착 random bolt 랜덤볼트 random delay 임의 지체 random masonry 막쌓기 random number 난수 random process 확률과정 random sampling 임의표본추출 random wave 불규칙파 ranfall mass curve 우량누가곡선 range 교차 Rankine’s formula 랑킨의 기둥공식 Rankine’s theory 랑킨 토압이론 ranking technique 순위기법 rapid consolidation test 급속압밀시험 rapid filteration 급속여과 rapid flow 사류 rapidly varied flow 급변류 rapid rail transit 전용철도대중교통(수단) rapids 급류 rapid transit 전용로대중교통(수단) raster data 래스터 자료 rated cars 환산량수 rated horse power 정격출력 rate of paved road 포장율 rate of rainfall 강우강도 rate of salvage 잔존율 rating 검정 rating flume 검정수로 rating tank 검정수조 rational formula 합리식 ratio of coarse to fine aggregate 조세골재비 ratio of fine aggregate 절대 잔골재율 ravelling 라벨링 raw rock 원석 raw sludge 생슬러지 raw water 원수 Rayleigh-Ritz method 레일레이-리쯔 방법 Rayleigh wave 레일레이파 Raymond sampler 레이몬드 샘플러 RC 알씨 RC sleeper 알씨침목 RC tie 알씨침목 RD 알디 reaction 반력 reaction time 반응시간 reaction turbine 반동수차 reactive aggregate 반응성골재 reactor container 원자로 격납용기 reactor pressure vessel 원자로 압력용기 ready mixed concrete 레디믹스트콘크리트, 레미콘 reaeration 재폭기 real fluid 실제유체 real kilometer 환산키로정 reamer 리머 reamer bolt 리머볼트 reaming 리밍, 확공 rebound rate 반발률 recalcitrant nobiodegradable organics 난분해성 유기물 receiving body of water 방류수역 recess 유격 recession 감수 recession curve 감수곡선 recharge 함양 recharge of ground water 지하수함양 recharge well 함양정 recharging method 복수공법 reciprocal levelling 교호고저측량, 교호수준측량 reciprocating compressor 왕복동콤프레셔 reciprocating feeder 레시푸로케이팅 피이더 reciprocating pump 왕복펌프 recirculation 재순환 reclaimed land 간척지 reclamation 간척, 매립 reclamation 개간 recompression 재압축 reconstruction 개축, 재시공 reconstruction of railway 철도개량 recording coach  궤도검측차 recording current meter 자기유속계 recording evaporimeter 자기증발계 recording rain gauge 자기우량계 recording snow gauge 자기강설량계 recording stage gauge 자기수위계 recording water level gauge 자기양수표 recoverable deformation 회복가능변형 recovered rail 재용레일 recovery 수위회복 recovery test 회복시험 rectangular beam 구형 들보 rectangular plane coordinate system 평면직교좌표계 rectangular steel tower 구형철탑, 방형철탑 rectangular weir 구형웨어 rectanguler platform 장방형 홈 rectification 편위수정 recurrence interval 확률년수 recurrence period 재현기간 recycle ratio 반송률 recycling 재생과정 recycling of resources 자원재순환 redistribution of moments 모멘트의 재분배 red lead 광명단 red lead paint 광명단페인트 red shortness 적열취성 red tide 적조 reduced speed signal 감속신호 reducing flame 환원불꽃 reductant 환원제 reduction 환원 reduction factor 감소계수 redundant force 부정정력, 여용력 redundant member 여용 부재 redundant support 여용 지점 red water 적수 reef 암초 refastening-down 재설정 reference climatological station 기준기상관측소 reference ellipsoid 기준타원체, 준거타원체 refilling 되메우기 refilling of ballast 도상보충 reflected wave 반사파 reflection logging 반사검층 reflector button 반사식도로 refracted wave 굴절파 refraction 굴절 refraction diagram 굴절도 refraction method 굴절법 refractories 내화성재료 refractory 내화재 refractory aggregate 내화골재 refractory insulating concrete 내화단열콘크리트 refrigertor car 냉장차 refueler system 급유차 방식 refugee harbor 피난항 refuge siding 안전측선 regeneration 재생 regimen 평형하상 regional railway division boundary post 지방철도청경계표 registered surveying engineer 측지기사 registered surveyor 측량사 regression analysis 회귀분석 regression coefficient 회귀계수 regression curve 회귀곡선 regression line 회귀곡선 regular bolt 막볼트 regular inspection 정기검사 regular nut 막너트 regular train 정기열차 regular wave 규칙파 regulating gate 제수문 regulating reservoir 조정지 regulating valve 제수밸브 regulating well 조절정 regulation gate 조절수문 regulatory sign 규제표지 rehabilitation of hazard 재해복구 reinforced concrete 철근콘크리트 reinforced concrete pavement 철근콘크리트 포장 reinforced concrete sleeper 철근콘크리트 침목 reinforced concrete tie 철근콘크리트 침목 reinforced road bed 강화노반 reinforcement 철근 reinforcement of weld 더돋기 relative density 상대밀도 relative frequency 상대도수 relative humidity 상대습도 relative orientation 상호표정 relative roughness 상대조도 relative stiffness 강비, 상대 강성도 relaxation 릴랙세이션, 이완 relay pump 중계펌프 relay pumping station 중계펌프장 reliability analysis 신뢰도해석 relief channel 홍수로 relief displacement 기복변위 relief track 대피선 relief well 감압우물 remixing 거듭비비기 remoldability 리몰더빌리티 remolded sample 재성형시료 remolding test 리몰딩시험 remote-satellite system 원격위성방식 remote sensing 원격탐사, 원격탐측 remoulded soil 재성형토 remoulding 재성형 remoulding gain 재성형증대 remoulding loss 재성형손실 removal of surplus soil 잔토처리 removing and reconstructing 이설과 이축 rendering 초벌바르기 Rendulic’s stress path 렌둘릭의 응력경로 renewal of bridge tie 교량 침목 갱환 renewal of CWR 장대레일갱환 renewal of rail 레일갱환 renewal work of track panel 궤광갱신작업 repair 보수 repair track 수선선 repair welding 보수용접 reparting of track meterials 재료보수작업 repeated load 반복 하중 repeated stress 반복 응력 repeating signal 중계신호기 repeating variables 반복변수 replacement method 치환공법 replacement reballasting of track 도상갱환 representative basin 대표유역 reproduction curve 증식곡선 re-profilling of rail 레일삭정 required overdesign factor 할증계수 rerailling 레일갱환 reregulating reservoir 역조정지 rerolled steel bar 재생봉강 resection 후방교선법 reserve capacity 여유 용량 reserved transit lane 대중교통전용차선 reserve fuel weight 예비연료중량 reservoir 저수지 reservoir basin 수몰면적 reservoir design flood 저수지설계홍수량 reservoir operation 저수지조작 reservoir operation rule curve 저수지조작규정곡선 reservoir release 저수지방류 reservoir routing 저수지추적 reservoir surface  담수면적 reservoir trap efficiency 저수지포착효율 resetting 재설정 residence time 체류시간 resident engineer 주재기사 residual chlorine 잔류염소 residual current 잔차류 residual deformation 잔류 변형 residual pesticide 잔류농약 residual rain 종기강우 residual settlement 잔류침하 residual shear strength 잔류전단강도 residual soil 잔류, 잔적토 residual strain 잔류 변형도 residual stress 잔류 응력 residual water pressure 잔류수압 residue by distillation 증류잔물 residue by evaporation 증발잔류물 resin 레진분, 수지 resin concrete 레진 콘크리트 resinconcrete 수지콘크리트 resistance to buckling 좌굴저항 resistance welding 저항용접 resisting force against buckling 좌굴저항 resisting force of ballast 도상저항력 resisting moment 저항모멘트 resistivity method 비저항법 resistivity survey 전기저항도탐사 resonance 공진 resonant column test 공진주시험 response 응답 responsive spectrum 응답 스펙트럼 rest area 휴게소 restoring force 복원력 restoring moment 복원모멘트 restraint crack 구속균열 restraint stress 구속응력 restricted area 비행 제한구역 restricted competitive bid 제한경쟁입찰 restricted orifice surge tank 제동오리피스형조압수조 restricted speed 제한속도 restricted speed signal 경계신호 restriction of CWR maintenance work 장대레일 작업제한 resultant force 합력 resultant stress 합 응력 resurfacing 덧씌우기 re-surfacing by welding on rail end 끝닳음용접 resuspension 재부상 retained stability 잔류 안정도 retained water 보유수 retaining wall 옹벽 retaining wall for falling stones 낙석방지옹벽 retaining wall for platform 승강장 옹벽 retardance coefficient 지체계수 retardation 지연, 지체현상 retarder 완경제, 응결지연제 retempering 되비비기 retention 지면보류 retention reservoir 저류용저수지 retention time 체류시간 retrogressive wave 역행파 return flow 환원수 return period 재현기간 return sludge 반송 슬러지 return water 귀환수, 반송수 reverberation 잔향 reverse circulation 리버스서큘레이션공법 reverse circulation drill 리버스서큘레이션드릴 reverse curve 반향곡선, 배향곡선 reversed stress 양진응력 reverse fault 역 단층 reverse flow 역류 reverse operation 퇴행운전 reverse osmosis 역삼투법 reverse position 반위 reversible lane 가변차선 reversible oneway street 가변일방통행도로 reversible turbine 반전식 수차 revetment 호안 revibration 재진동다짐 review committee of surveying data 측량심의회 revolving screen 회전체 Reynolds averaging method 레이놀즈평균법 Reynolds number 레이놀즈수 Reynolds similarity law 레이놀즈 상사법칙 Reynolds stress 레이놀즈응력 rheology 레올로지 rhyolite 유문암 RI 알아이 ria type coast 리아스식 해안 rib 리브 ribbed arch 리브아치 Richardson number 리차드슨수 rich concrete 부배합콘크리트 rich mix 부배합 ride-in stage 스테이지 riffle 급여울 right-angle triangular weir 직삼각웨어 right ascension 적경 right bank 우안 right-hand thread 오른손나사 right of way 도로부지, 통행권 right of way boundary post 용지경계표 right side bank 우안 right-turn direct ramp 우직결 램프 rigid body 강체 rigid connection 강접(합) rigid crossing 고정 크로싱 rigid foundation 강성기초 rigid frame 강절 뼈대 rigid frame bridge 라멘교 rigid frame pier 라멘교각 rigid frog 고정 크로싱 rigidity 강성 rigid joint 강절 rigid pavement 강성포장 rigid pipe 강성관 rigid plastic body 강소성체 rigid-plastic material 강체-소성 재료 rigid type safety fence 강성방호책 rigid wheel base 고정축간거리, 고정축거 rigid zone 강역 rill erosion 세류침식, 릴침식 rill flow 세류 rimmed steel 림드강 ring cut 링 커트 ring dowel 바퀴형 듀벨 ring foundation 환형기초 ring girder 링 거더 ring levee 윤중제 ring road 환상도로 ring shake 눈도리 ring shear test 링전단시험, 원형전단시험 ring spring 링 스프링 rip 립, 여울 rip current 이안류 rippability 굴착난이도, 립파빌리티 riprap 사석 riprap rubble stone 사석 riprap work 사석공 rise 라이즈 rise and fall system 승강식 rising limb  상승부곡선 rising segment 상승부곡선 rising sludge 상승슬러지 risk 위험도 risk assessment 위험도 분석 Ritter’s method 리터 방법 Ritz method 리쯔 방법 river bank 하안 river barrage 하천둑 river basin 유역 river bed 하상 river bed profile 하상종단곡선 river channel 하도 river channel routing 하도추적 river course 하도 river cross-sectional area 하천횡단면적 river degradation 하상저하 river density 하천밀도 river discharge 하천유량 river diversion 유로변경 river gravel 강자갈 river improvement 하천개수 river levee 하천제방 river maintenance 하천유지 river maintenance flow 하천유지용수 river mouth 하구 river mouth bar 하구 사주 river pollution 하천오염 river reach 하천구간 river regime 안정 하상 river sand 강모래 riverside foreland 제외지 river stage 하천수위 river surveying 하천측량 river system 수계 river training 하천도류공 river width 하폭 rivet 리벳 rivet collar 리벳칼라 rivet connection 리벳접합 riveter 리베터 rivet hammer 리벳해머 rivet head 리벳머리 rivet heating 리벳가열 rivet holder 리벳홀더 rivet hole 리벳구멍 rivet length 리벳길이, 작용길이 rivet line 리벳선 rivet pitch 리벳피치 rivet shaft length 리벳길이 road 도로 road bed 노반 road bed filled up ground 노체 road bed pressure 노반압력 road cutting 노면절삭 road header 로드헤더 road inventory 도로대장 road law 도로법 road marking 도로표시 road mill 로드밀 road-mix construction 노상혼합방식 road of adjaert area 도로접도구역 road operation 도로운영 road pricing 도로사용료 책정 road rater 로드레이터 road roller 도로 롤러, 로드롤러 road side interview origin 노측오디조사   destination survey roadside interview study 노측면접조사 road sign 도로표지 road sprinkler 살수차 road stabilizer 로드 스테빌라이저 road stock coefficient 도로원단위 road structure standard 도로의 구조시설기준 road stud 도로못 road tar 포장타르 road traffic law 도로교통법 roadway 차도 roadway defence 선로방비 roadway diagraph 토공정규 rock anchor 록 앵카 rock asphalt 록크 아스팔트 rock bolt 록볼트 rock breaking hammer 쇄석해머 rock burst 암석돌출 rock cutter 쇄암선 rock description 암석기술 rocker bearing 로커지지 rocker pier 로커교각 rock fall 낙반, 낙석 rockfill dam 사력댐 rocking 로킹 rock load 암반 하중 rock mass 암반 rock mass classification system 암반 분류법 rock mass quality 암반 품질 rock mass rating 암반 등급 rock material 암석 rock pillar 암주 rock salt 암염 rock slide 암반 활동 rock structure 암석구조 rock texture 암석조직 rock tunnel 암반 터널 rock waste 버력 Rockwell hardness 록크웰경도 rodding 봉다짐, 손다짐 rolled asphalt 롤드 아스팔트 rolled concerte 전압콘크리트 rolled edge 압연연단 rolled fill 전압흙쌓기 rolled method 전압공법 rolled steel for welding structure 용접구조용 압연강재 rolled steels 압연강재 roller 롤러 roller bearing 롤러 베어링, 롤러지지 roller bend test 롤러휨시험 roller-compacted earth dam 전압식흙댐 roller electrode 롤러전극 roller mark 롤러 자국 roller spot welding 롤러 스폿용접 roller support 롤러 지점, 이동 지점 rolling 롤링, 압연, 전압 rolling friction 구름마찰 rolling gate 롤링 게이트 rolling stock vehicle gauge 차량한계 rolling terrain 구릉지 rolloing stock 차량 roofing tile 기와 room 간 root bend test 뒷면굽힘시험 root mean square error 평균제곱근오차 root of weld 용접루트 rope 로프 rope drum 로프드럼 rope railway 강삭철도 ross count method 로스카운트법 rotary 로터리 rotary boring 회전시추 rotary crane 선회크레인 rotary drilling 회전시추 rotary dryer 회전건조기 rotary float 기계쇠손 rotary frame 회전틀 rotary kiln 로터리 킬른 rotary planer 로터리 플레너 rotary snow plough 회전식제설차 rotating biological contactor 생물학적 회전원판, 회전생물막접촉기 rotational stiffness 회전 강성도 rotation irrigation 순환관개 rotten knot 썩은옹이 rough bolt 흑피볼트 rough finishing 거친면마무리 roughness  거칠기, 조도 2), 평탄성 roughness coefficient 조도계수 rough wall 거친벽 rough cut stone 깬잡석 roundabout 로터리 round bar 둥근강, 원형철근, 환강 round column 둥근기둥 round engine shed 원형 차고 round head rivet 둥근리벳, 둥근머리리벳 round strand 원형스트랜드 round washer 원형와셔 route 노선 route assignment 노선배분 route continuity 노선연속성 route kilometers  선로연장 route length 선로연장 route lever system 진로레버식 route selection system 진로선별식 route signal system 진로표시방식 route surveying 노선측량 routing 추적 routing period 추적기간 row 행 RQD 알큐디 rubbed finish 갈아내기마무리 rubber balloon method 고무풍선법 rubber bearing 고무받침 rubber belt 고무벨트 rubberized asphalt 고무 아스팔트, 고무화 아스팔트 rubber vibration isolator 방진고무 rubble aggregate 조석재 rubble aggregate concrete 조석재콘크리트 rubble base 사석기초 rubble drain 맹거 rubble masonry 막깎은 돌쌓기 rubble-mound 사석 rubble stone 잡석 rub brick 갈아내기벽돌 ruling grade 제한구배 ruling speed 제한속도 rumble strips 노면요철 run curve 운전선도 runner 런너 running in the wrong track 이선진입 running resistance 주행저항 running shed 동력차고 running speed 운전속도, 주행속도 running time 주행시간 running track 주행선 runoff 유출 runoff curve number 유출곡선번호 runoff process 유출과정 run off tab 엔드 탭 run off the rails 탈선 run-of river plant 수로식발전소 run-of-river type power station 자연유하식 발전소 runover type turnout 승월분기기 runway 런웨이, 활주로 runway basic length 활주로 기본길이 runway centerline lights 활주로 중심선등 runway declared distances 활주로 공시거리 runway designation marking 활주로 명칭 표지 runway distance marker sign 활주로거리등 runway edge lights 활주로등 runway effective gradient 활주로 유효경사 runway marking 활주로 표지 runway occupancy time 활주로 점유 시간 runway protection zone 활주로 보호구역 runway safety area 활주로 안전지역 runway threshold 활주로 말단 runway threshold lights 활주로말단등 runway visual range 활주로 가시거리 rupture 파단, 파열 1) rupture envelope 파괴포락선 rural area 지방지역 rust 녹 rustic finish 씻어내기 마무리 rust prevention 녹막이 rust resisting paint 녹막이페인트 rust proofing painting 녹막이칠 rutting 바퀴자국 패임 sacked concrete 포대콘크리트 saddle 새들 safety appliance for railway crossing 건널목안전설비 safety device 보안장치, 신호보안 장치 safety facilities 운전보안장치 safety factor 안전율 safety fence 방호울타리 safety goggle 고글 safety guard rail 안전가드 레일 safety helmet 안전모 safety rope 안전 로프 safety shoes 안전화 safety siding 안전측선 safety valve 안전밸브 safe yield 보장공급수량, 안전채수량 safty cap(for increasing lateral) resistanse 좌굴방지판 sag 새그, 오목곡선 Saint-Venant torsion 세인트 브이난트 비틂 Saint-Venant’s principle 세인트 브이난트 원리 salinity 염도 saltation 도약 saltation layer 도약운동층 saltation load 도약유사 salt damage 염해 salt flocculation structure 염기성 면모구조 saltwater intrusion 염수침입 saltwater wedge 염수쐐기 salvage value 잔존가치 sample 시료 sampler 샘플러 sample splitter 시료 분취기 sampling inspection 채취검사 sampling inspection by variables 계량발취검사 sampling tube 샘플링튜브 sand 모래 sand and gravel ballast 막자갈도상 sand asphalt 샌드아스팔트 sandbag piling 토표공 sand bar 사주 sand basin 침사지 sand bedding course 완충층 sand blanket 샌드블랭킷 sand blasting 모래뿜어붙이기, 샌드블라스팅 sand compaction pile 다짐모래말뚝, 모래다짐말뚝, 샌드콤펙션말뚝 sand cone method 모래치환법 sand cushion 완충층 sand drain method 샌드드레인공법 sanded lightweight concrete 모래경량콘크리트, 부분경량콘크리트 sand equivalent 모래당량 sander grinder 샌더그라인더 sand filter 모래여과 sand fraction 모래분 sanding facilities 급사설비 sand island 가축도 sand jack 샌드잭 sand macadam 모래다짐 머캐덤 sand mastic method 샌드매스틱공법 sand mat 샌드매트 sand patching 샌드 팻칭 sand pump 샌드펌프 sand ripple 사련 sandstone 사암 sand trap 모래받이 sand washing machine 세사기 sandwitch method 샌드위치공법 sandy clay 사질점토 sandy clay loam 사질점토롬 sandy loam 사질롬 sandy soil 사질토 sanitary engineering 위생공학 sanitary landfill 위생매립, 폐기물성토 sanitary sewer 오수관 satellite image 위성영상 satellite surveying 위성측량 saturated aliphatic hydrocarbon 포화지방족탄화수소 saturated density 포화밀도 saturated hydrocarbon 포화탄화수소 saturated soil 포화토 saturated solution 포화용액 saturated surface-dry condition 표면건조화상태 saturated unit weight 포화단위중량 saturated zone 포화대 saturation 포화 saturation flow rate 포화 교통류율 saturation line 침윤선 saturation vapor 포화증기 saturation vapor pressure 포화증기압 savbolt furol viscosity 세이볼트 퓨롤 점성 sawed joint 소드죠인트 sawed veneer 소드베니어 sawing 제재 SC 에스씨 scaffold 비계 scaffold board 가설잔교, 비계판, 잔교 scaffolder 비계공 scaffold log 비계목 scale 스케일, 축척 scale defect  스케일손상 scale denominator 축척분모수 scale effect 축척효과 scale factor 축척계수 scale pit 스케일손상 scaling 스케일링 scallop 스캘럽 scalper 스캘퍼 scalping 스캘핑 scanning 스캐닝, 주사 scarifier 흙갈퀴 scenic railway 관광철도 scheme of haul 토량배분 schist 편암 schistosity 편리 Schmidt hammer 슈미트해머 Schmidt net 슈미트네트 Schumidt hammer test 슈미트햄머시험 scissors crossing 시사스 크로싱 scoria 스코리아 scour 스카우어 scour hole 세굴공 scour limit 세굴한계 scour meter 세굴계 scour protection 세굴방지 scraper 스크레이퍼 scraper dozer 스크레이퍼도저 scrap rail 불용레일 scratch hardness 긁기경도 scratching 금긋기 scratch templet 스크레치 템프레이트 scratch test 긋기시험 screed 스크리드 screeding 스크리딩 screed vibrator 스크리드바이브레이터 screeings 스크링스 screen 검불막이, 스크린, 판체 screened ballast 친자갈 screening 스크린분리, 체질 screenings 스크리닝스 screen line 통과검사선 screw  나사 screw conveyor 스크루컨베이어 screw spike 나사못, 나사스파이크, 스크류스파이크 screw threaded stud 용접나사 스터드 scrubber 스크러버 sea cliff 해식 절벽 seacoast harbor 해안항 sea defence work 호안 공사 sea fog 바다 안개 sea grader 해중정지작업선 seal 실 sealant 실런트 seal coat 실 코우트 sea level 해수면 sea level datum 기준 해수면 sealing 실링 sealing compound 봉함제 seal welding 봉합용접 seamless steel pipe 심레스강관 seamless steel tube 이음없는 강관 seam welding 시임용접 sea sand 바다모래 seashore 해변 seasonal variation 계절별 변동 season crack 방치균열 seasoned wood 건조재 seasoning 시즈닝 seasoning of timber 목재건조법 sea state 해면 상태 sea surface roughness 해면 조도 sea surface wind velocity 해면 풍속 sea surveying 해양측량 seawall 방조제 secondary activity zone 이차생활권 secondary air 이차공기 secondary consolidation 이차압밀 secondary fastening 이차조임 secondary flow 이차흐름 secondary lining 이차 라이닝 secondary load 부하중, 종하중 secondary member 보조재, 이차부재 secondary plant 이차플랜트 secondary pollution 이차오염 secondary power 잉여전력, 특수출력 secondary rolling 이차전압 secondary speed change lane 이차 변속차선 secondary stress 이차 응력 secondary treatment 이차처리 second class interlocking 제2종 연동장치 second class track 이급선 second curve of turnout 분기부대곡선 second hand rail 재용레일 second level system 이중층 방식 second-order benefit 이차편익 section 단면, 형강 sediment 유사, 저질 sedimentary rock 퇴적암 sedimentation basin 침전지 sediment concentration 유사농도 sediment contamination 저질오염 sediment load 유사량 sediment rating curve 유량유사량곡선 sediment sampler 유사시료채취기 sediment transport 유사이송 sediment trap 이토실 seeding 식종 seepage 침윤, 침투 seepage face 침윤면 seepage failure 침투파괴 seepage flow 침투류 seepage force 침투력 seepage line 침윤선 seepage loss 침윤손실 seepage-out surface 침출면 seepage pressure 침윤수압, 침투압력 seepage velocity 침윤속도, 침투속도 seepage yield 침출률 segment 세그먼트 segregation 재료분리, 편석 seismic analysis 지진해석 seismic coefficient 진도, 진도 계수 seismic force 지진력 seismic intensity scale 진도계 seismic load 지진 하중 seismic prospecting 탄성파측량, 탄성파탐사 seismic reflection survey 지진파굴절탐사 seismic sea wave 지진 해일 seismic surveying 탄성파측량 seismograph 지진계 seismometer 지진계 seive analysis 체분석 selected material 선택재료 self-anchored suspension bridge 자정식 현수교 self-elevating platform 갑판승강식작업대 self-excited vibration 자려진동 self-hardening steel 자경강 self-leveling platform 갑판승강식작업대 self-locking nut 자동잠금너트 self parking 직접 주차 self-purification 자정작용 self-purification capacity 자정능력 self shield arc welding 셀프쉴드 아크용접 self supported stack 자립형연돌 self weight 자중 self-weight consolidation 자중압밀 self descication 셀프데시케이션 self propelling dredger 자항식준설선 self propelling hopper dredger 자항식홉퍼준설선 semaphore signal 완목식 신호기 semi-actuated signal 반감응신호 semi-arch dam 반아치댐 semi-automatic arc welding 반자동 아크용접 semi-automatic nongas shield welding 논가스 피복 반자동용접 semi-automatic signal 반자동 신호기 semi-blown asphalt 세미블론 아스팔트 semi circular arch 반원 아치 semidiurnal force 반일주조력 semidiurnal tide 반일주조 semi-finished bolt 중볼트 semi-finished nut 중 너트 semi-gravity retaining wall 반중력식 옹벽 semi-killed steel 세미킬드강 semi membrane tank 세미 멤브레인 탱크 semi-permanent mark 일시표지 semi-permeable membrane 반투막 semi chemical pulp 세미케미칼펄프 semi portal crane 외발크레인 semi steel 세미강 semi trailer 세미트레일러 sensitive clay 예민점토 sensitivity analysis 민감도 분석 sensitivity of bubble 기포관감도 sensitivity ratio 예민비 sensor 감지기, 감지단, 센서, 탐측기 sensor of asphalt finisher 피니셔의 감지기 separate platform 상대식 승강장 separate sewer 분류식 하수관 separation 박리현상 separator 분리대, 세퍼레이터 septic tank 부패조, 정화조 sericite 견운모 serpentinite 사문암 serration 세레이션 serviceability 사용성 serviceable limit state 사용한계상태 service area 서비스 에리아 service flow rate 서비스 교통류율 service kilometers 영업키로 service life 내용년수 service load 사용하중 service road 부도 service volume 서비스 교통량 service water 용수 set 세트 set-back 건축선후퇴, 건축후퇴 setback of cable saddle 케이블새들의 셋백 set screw 세트 스크류 setting 응결 setting out 측설 setting retarder 지연제 setting shrinkage 응결수축 setting time 응결시간 settlable solid 침전성고형물 settlement 저장 안정도, 침하 settlement cracking 침하균열 settlement of aggregate 골재의 침강 settletment extensometer 층별침하계 settling 침강, 침전 settling velocity 침강속도 setup 해수면 상승 setup cost 설치비 sewage 오수, 폐수 sewage disposal 폐수처분, 하수처분 sewage treatment 폐수처리, 하수처리 sewer 하수거 sewer system 하수배제방식 sextant 섹스탄트, 육분의 shading 음영법 shadow exchange rate 잠재환율 shadow price 잠재가격 shaft 수직갱 shaft spillway 나팔형여수로 shaking conveyor 세이킹컨베이어 shaking table 진동대 shale 혈암 shale concrete 혈암 콘크리트 shallow channel 얕은수로 shallow foundation 얕은 기초 shallow tunnel 얕은 터널 shallow water 천수 shallow water wave 천해파 shallow well 얕은우물, 천정, 천정호 shape factor 형상 계수 shape function 형상 함수 shaper 쉐이퍼 shape steel tower 형강철탑 shared lane 공용차선 shared right-of-way 공유통행권 sharp crested weir 칼날웨어 shear box 전단상자 shear connector 전단연결재 sheared edge 전단연 shear equation 층방정식 shear failure 전단파괴 shear force 전단력 shearing crusher 전단파쇄기 shearing test 전단시험 shear joint 전단절리 shear key 활동방지벽 shear lag 전단 뒤짐 shear legs crane 양다리 크레인 shear panel 전단패널 shear plate 전단판 shear reinforcement 전단철근 shear resistance 전단저항 shear span 전단스팬 shear stiffiness 전단강성 shear strain 전단변형 shear strength 전단강도 shear stress 전단응력 shear wave 전단파 sheath 쉬스 sheathing board 거푸집판 sheave 시브 shed 헛간 shed for inspecting cars 검차고 sheet 암상 sheet asphalt 시트아스팔트 sheet erosion 판상침식 sheet flow 면상흐름, 판상흐름 sheeting 흙막이널 sheeting joint 층상절리 sheet mastic waterproofing 시트매스틱방수공법 sheet pile 널말뚝 sheet pile cofferdam 널말뚝물막이댐 sheet pile cut off 널말뚝지수벽 sheet pile foundation 널말뚝기초 sheet pile wall 널말뚝벽 sheet separation 판의 들뜸 Sheets formula 쉬스 공식 shell 쉘 shell plate 몸통판 sheradizing 쉐러 다이징 shield arc electrode 쉴드아크 용접봉 Shields diagram 쉴즈도표 shield tunnel 쉴드터널 shield tunneling method 쉴드공법 shift 이정 shifted traffic 전환교통 shipper 하주 2) shoal 모래톱 shock absorber 완충장치(완충기) shock resistance 내충격성 shock wave 충격파 shoe 슈 shooting flow 사류 shop assembly 공장조립 shop bill 제작재료표 shop coating 공장도장 shop drawing 공작도, 제작도 shop provisional assembly 가조립 shop rivet 공장리벳 shop splice 공장이음 shop welding 공장용접 shore 해안 shore current 해안류 shore drift 해안 표사 shore erosion 해안 침식 shore hardness 쇼어경도 shore head 지주머리 shoreline 해안선 shoreline feature 해안선 형태 shoreline of submergence 침강 해안 shore protection 해안 보존, 호안 shore span 해안선 구간 shoring layout 지주배치도 shortage cost 부족비용 short circuit 단회로, 단회류 short column 단주 short crested wave 단파봉파 short cut 첩수로 shorter rail 단척레일 short nose rail 짧은 노즈레일 short take-off landing aircraft 단거리 이착륙기 short-term forecast 단기예보 short-term hydrological forecast 단기수문예보 short-term stability problem 단기안정문제 short wave 단파 shot blast 숏 블래스트 shotcrete 숏크리트 shoulder 길어깨 shovel 셔블 shovel mixing 삽비비기 shrinkage allowance 허용수축량 shrinkage crack 건조수축균열, 수축균열 shrinkage fit 수축끼워맞춤 shrinkage force 수축응력 shrinkage limit 수축한계 shrinkage-reducing agent 건조수축저감제 shrinkage reinforcement 건조수축철근, 수축철근 shrink mixed concrete 쉬링크믹스트콘크리트 shunting 입환 shunting signal 입환신호기 shunting switching yard 조차장 shunting track 입환선 shunting yard 화차조차장 shutter 셔터 shutter weir 셔터웨어 shuttle dumper 셔틀덤퍼 shuttle transit 근거리왕복순환대중교통 side bend test 옆굽힘시험 side canal 측설운하 side channel spillway 측구여수로 side condition 변조건 side ditch 측구 side drift method 측벽도갱 선진 상부 반단면 공법 side fillet weld 측면필렛용접 side friction 측면마찰, 횡방향마찰 side gutter 측구 side(door) hopper barge 옆문토운선 sidelap 횡중복도 side loading carrier 횡취기 side overflow 횡월류 side pond 갑문 보조시설 sidereal time 항성시 side roller 사이드롤러 side shaft 측벽도갱 side slope 측면경사 side span 측경간 sidesway 가로 흔들림 sidesway buckling 가로 흔들림 좌굴 side track 측선 1) sidewalk 보도, 인도 side walk bracket 보도 브래키트 side wall drift excavation 측벽도갱선진공법 side weir 측면웨어 side opening type hopper barge 옆열림식토운선 siding 측선 1) siemens martin method 평로법 sieve analysis 체가름시험 sieve machine 체진동기 sight distance 시거 sigle level system 단일층 방식 sign 전호, 표지 signal 신호 signal apparatus 신호장치 signal aspect  신호현시 signal box 신호장 signal control 신호제어 signal controller 신호제어기 signal control system 신호제어체계 signal face 신호등면 signal head 신호등두부 signal indication 신호표시, 신호현시 signalization 신호화 signalized intersection 신호교차로 signal post 신호기 signal station 신호소 signal target 측표 signal torpedo 신호뇌관 signboard for falling stone 낙석주의표 significance test 유의검정 silica 실리카 silica cement 실리카시멘트 silica sand 실리커 샌드 silica soda paste 물유리접착제 silicon caulking 실리콘코킹 silicon resin paste 실리콘 수지접착제 silicon steel 규소강 silicon steel rail 규소강레일 silo 사일로 silt 실트 silt fraction 실트분 silt pressure 퇴사압 silty clay 실트질 점토 similarity law 상사법칙 similitude 상사 simple beam 단순보 simple shear test 단순전단시험 simple slab 단순슬래브 simple station 간이역 simple surge tank 단순조압수조 simple truss 단순 트러스 simplex tableau 심플렉스표 simplified safety fence 간이식 방호책 simply supported edge 단순 지지연 Simpson’s formula 심프손 공식 simulation 모의실험 simultaneous signal control system 동시신호 제어체계 sine curve 사인 반파장 완화곡선 sine wave 정현파 single acting pile hammer 단동식항타기 single degree of freedom system 일 자유도계 single elastic fastening 일중탄성체결 single end spanner 외쪽스파나 single footing 독립기초 single gear 단일기어 single-grained structure 낱알구조 single line staging 외줄비계 single photogrammetry 단사진측량 single pile 외말뚝 single reinforcement 단철근 single row triangles 단열삼각망 single runway 단일 활주로 single sampling inspection 일회채취조사 single shear 일면전단 single shear rivet 단전단리벳 single shoulder tie-plate 외턱 타이플레이트 single sized aggregate 단립골재, 단립도 골재 single slip switch 싱글스립 스위치 single track 단분기기, 단선 single wall cofferdam 외겹 가물막이댐 singly reinforced rectangular beam 단철근 직사각형 보 sinker 싱커 sinkhole 용식 함지 sintered flux 소결플럭스 sinusoidal motion 정현운동 sinusoidal wave 정현파 siphon 사이펀 siphon culvert 잠거 siphon spillway 사이펀여수로 site investigation 현장조사 site of way line 도로용지경계 size 사이즈 size effect 크기효과 sizing 사이징 skeleton 골격(흙) skeleton length 뼈대 길이 skelton 스켈톤 skew arch 경사아치 skew bridge 사교 skew crossed beam 사교격자보 skew joint 경사줄눈 skid friction 미끄럼 마찰 skid mark 미끄럼 흔적 skid number 스키드 넘버 skid resistance 미끄럼 저항 skimmer 스키머 skimming 수면층전환 skin plate 스킨프레이트 slab 슬래브 slab bridge 슬래브교 slab-buttress dam 상판부벽댐 slab joint 슬래브 이음 slab track 슬래브 궤도 slack 스랙, 슬랙 slackline excavator 슬랙라인 엑스커베이터 slack path 슬랙 패스 slack tide  게류 slack water 게류 slag 슬래그 slag ballast 슬래그도상 slag brick 고로벽돌, 슬래그벽돌 slag hammer 슬래그해머 slag inclusion 슬래그혼입 slag welding 슬래그용접 slag wool 슬래그면 slake durability test 풍화내구시험 slaking 슬레이킹 slate 슬레이트, 점판암 slave controller 예속제어기, 종속제어기 sleeper 침목 sleeper stone 밑돌 sleet 싸락눈 sleeve nut 슬리브너트 slenderness ratio 세장비 slew 소택지 sliced veneer 슬라이스드베니어 slice method 분할법, 절편법 slickenside 단층마찰면, 슬리큰사이드 slide caliper 켈리퍼 sliding bearing 마찰지지 sliding joint 미끄럼 이음 slight(minor) accident 운전장애 slightly weathered rock 경풍화암 slime 슬라임 sling 슬링 sling rope 슬링로프 sling wire rope 슬링 와이어로프 slip form 슬립폼 slip-form paver 슬립폼 페이버 slip-form paving 슬립폼 공법 slip line 활동선 slipping 공전 slip surface 활동면 slip way 선가사로 slope 구배 slope-area method 경사-면적법 slope current 경사류 slope-deflection equation 요각 방정식, 처짐-각 방정식 slope-deflection method 요각법, 처짐-각법 sloped footing 경사확대기초 slope drainage 비탈면 배수 slope failure 사면내파괴, 사면붕괴 slope gauge 수면측정기 slope gradient 경사 slope protection 비탈면보호, 사면보호 slope stability 사면안정 slope stability analysis 사면안정해석 sloshing 슬러싱 slot 긴홈구멍, 슬롯트 slot joint 가로간극이음, 슬롯이음, 열림이음 slot welding 슬롯트용접 slough 소택지 slow banking 완속시공 slow filtration 완속여과 slowing down of train 열차서행 slow lane 완속차선 slow operation 서행운전 slow-setting cement 완결성시멘트 slow speed approach signal 서행예고 신호 slow speed release signal 서행해제 신호 slow speed signal 서행신호 sludge 슬러지 sludge age 슬러지 나이 sludge cake 슬러지 케이크 sludge density index 슬러지 밀도지수 sludge dewatering 슬러지 탈수 sludge drying bed 슬러지 건조상 sludge thickening 슬러지 농축 sludge volume index 슬러지부피지수 sluice gate 수문 sluice valve 제수밸브 sluiceway 방수관 slump 슬럼프 slump cone 슬럼프 콘 slump loss 슬럼프 손실 slump test 슬럼프 시험 slump value 슬럼프 값 slurry 슬러리 slurry blasting explosive 슬러리 폭약 slurry pipeline 액화관로 slurry pump 슬러리펌프 slurry seal 슬러리 실 slurry shield 니수식 쉴드 slurry trench 슬러리 트렌치 slurry wall 슬러리 월 slush 진눈깨비 small orifice 작은 오리피스 smear 스미어 smog 스모그, 연무 smoke 매연 smoke dust 매진 smoke treatment facility 매연처리시설 smooth blasting 스므스 블라스팅, 제어 발파 smoother 스무서 smoothing iron  스무서 smooth wall 매끈한벽 snake motion  사행동 snap-through buckling 스냅-스루 좌굴 S-N curve 에스-엔 곡선 snow density 눈밀도 snow depth 눈깊이 snow drift facilities 적설 방지시설 snow drift prevention forest 방설림 snow evaporation 설면증발 snowfall 강설 snow-fed stream 설원하천 snow fence 적설 유도책, 방설책 snow-gauge 설량계 snow line 설선 snow load 설하중 snow melter facilities 배설시설 snow melting facility 융설장치 snow meter sign 양설표 snow plough 제설판 snow plough car 제설차 snow-shed 눈막이덮개 snow stake 설척 soaking period 습윤기간 soaking pit 균열로 social cost 사회비용 social overhead capital 사회간접자본 socket 소켓 socket joint 소켓이음 socket pipe 소켓관 soda 소다 soda ash 소다회 soda pulp 소다펄프 sodding 떼붙이기, 식생공 sodium alginate 알긴산나트륨 sodium carbonate 탄산소오다 sodium hypochlorites 차아염소산나트륨 soffit 소핏 soft clay 연약점토 soft detergent 연성세제 softener 소프트너 softening 연화 softening point 연화점 soft ground 연약지반 soft ground tunnel 연약지반 터널 soft partcies in coarse aggregate 연석량 soft rock 연암 soft shoulder 보호 길어깨 soft toe 소프트토우 soft water 연수 soil amendment 토양개량제 soil cement 소일시멘트, 흙 시멘트 soil cement stabilization 소일시멘트안정처리 soil classification 토질분류, 흙의 분류 soil colloid 흙콜로이드 soil compaction 흙의 다짐 soil conditioner 토양개량제 soil contamination 토양오염 soil conversion factor 토량 변화율 soil corrosion 토양부식 soil ecosystem 토양생태계 soil engineering 토질공학 soil erosion 토양침식 soil exploration 토질조사 soil mechanics 토질역학 soil mixing plant 소일 믹싱 플랜트, 흙 혼합 플랜트 soil moisture 토양수분 soil moisture deficit 토양수분 미흡량 soil moisture field capacity 토양수분 보유능 soil moisture profile 토양수분 분포 soil moisture retention 토양수분보류 soil moisture suction 토양수분흡인력 soil parameter 토질상수 soil pollution 토양오염 soil pressure 토압 soil stabilization 토질안정처리, 흙 안정처리, 흙의 안정화 soil structure 흙의 구조 soil test 토질시험 soil water 토중수 soil water zone 토양수대 soil wedge 흙쐐기 sol 졸 solar tide 태양조 solar time 태양시 solder 땜납 soldier 솔저 soldier pile 엄지말뚝 sole plate 소울 플레이트 sole wire 소선 solid bed track 직결궤도 solid borne sound 고체전파음 solid drawn steel pipe 인발강관 solid floor 폐도상 solidification 고형화 solid retention time 고형물 체류시간 solid rib arch 리브아치, 충복아치 solids 고형물 solid track-bed 직결도상 solid volume percentage of aggregate 골재의 실적률 solid waste recycling 폐기물재순환 solid waste treatment 폐기물처리 solid waste treatment plant 쓰레기처리장 solid wire 솔리드 와이어 solitary wave 고립파 solubility 용해도 solubility in carbon tetrachloride 사염화탄소 가용분 solubility in trichloroethane 삼염화에탄 가용분 solubility product 용해도곱 solute 용질 solution 용액 solvent 용제 solvent extraction 용제추출 sonar 수중음파탐지기 sonic pulse velocity 음파속도 sonic sounder 음파측심기 sonic sounding 음파측심 sonic sounding chart 음파측심도 sonic sounding instrument 음파측심기 sonic sounding system 음파측심계 soot 검댕 sorting 선별 sorting line 조차선 sounder 측심계 sounding 사운딩, 심천측량, 측심 sounding chart 측심도 sounding depth 음측수심 sounding lead 측심레드, 측심추 sounding line 측심선, 측심줄 sounding pole 측심작대 sounding rod 사운딩로드, 측심봉 sounding stick 측심작대 sounding weight 측심추 sounding wire 측심줄 sound insulating material 차음재료 sound insulation 차음 sound insulation material 차음재 sound level 소음레벨 sound level meter 소음계 soundness test 안정성시험 sound pressure 음압 sound pressure level 음압레벨 sound proof planting 방음식목 soxhlet’s extractor 속스레 추출기 space average speed 공간평균속도 space headway 차두간격 space photogrammetry 우주사진측량 spacer 간격재, 스페이서 space structure 공간 구조물 space surveying 공간측량 spacing 차두간격, 차두거리 spacing of sleeper 침목간격 spading 스페이딩 spall drain 맹거 spalling 박리 span 경간, 스팬, 지간 spatter 스패터 special limitation on track clearance 건축한계축소표 special motor vehicle 특수 자동차 special railway 특수철도 special room 귀빈실 special signal 특수신호 special steel 특수강 special steel rail 특수강레일 special steel tower 특수철탑 special survey 정기검사 special train 임시열차 special type of high strength bolt 특수 고장력볼트 specification 시방서 specific capacity 비양수량 specific discharge 비유량 specific energy 비에너지 specific facilities 전용시설 specific force 비력 specific gravity 비중 specific gravity of aggregate 골재비중 specific gravity of light weight aggregate 경량골재비중 specific guage 비수위 specific heat 비열 specific humidity 비습도 specific retention 보유수율 specific sediment load 비유사량 specific speed 비속도, 특유속도 specific storage 비저류율 specific strength 비강도 specific surface area 비표면적 specific volume 비체적 specific weight 단위 중량 specific yield 비산출량 specified mix 시방배합 specified toxic substance 특정유해물질 specimen 공시체 spectral analysis 스펙트럼 해석 spectrum 스펙트럼 speed 속도 speed-change lane 변속차선 speed change section 변속구간 speed control post 속도제한표 speed limit 속도제한 speed trap 속도측정구간 speed up 속도향상 speed zoning and control 속도제한구역 설정 및 통제 SPF 에스피에프 spherical bearing 구면지지   spherical bearing shoe 구면슈 spherical excess 구과량 spherical roller 구면롤러 spherical triangle 구면삼각형 spheroid 스페로이드 spigot 삽구 spike 스파이크 spiked roller 스파이크 롤러 spike hammer 스파이크 해머 spilling breaker 붕괴파 spillway 여수로 spillway capacity 여수로용량 spillway tunnel 여수로 터널 spiral 완화곡선 spiral column 나선철근기둥 spiral curve 나선형 곡선 spiral reinforcement 나선철근 spiral rope 스파이럴 로프 spiral (seam welding) steel pipe 스파이럴(심용접)강관 spirillum 나선균 spirit level 수준기 splash 우격 splice 이음, 첨접 splice bar 이음매판 split spoon sampler 스플리트스푼-샘플러 split switch 첨단포인트 split tensile test 할렬인장시험 splitting tensile strength 할렬인장강도 split treatment 부분처리, 분할처리 split web at rail end 파단 spoil bank 사토장 spot speed 지점속도 spot system 점고법 spot welding 스폿용접, 점용접 spray bar 스프레이 바 spray coating 용사 sprayer 스프레이어 spraying 스프레잉 spray pond 스프레이지 spreader 포설기 spreader of reciprocationary blade 블레이드 형 스프레더 spread footing 독립기초, 확대기초 spread foundation 확대기초 spreading 펴고르기 springing 스프링깅 spring modulus 스프링 계수 spring out 용출수 spring point  스프링 포인트 spring rise 대조승 spring switch 스프링 포인트 spring tide 대조 spring tide range 대조차 spring washer 스프링 와셔 spring wood 춘재 sprinkler 살수기, 스프링클러 sprinkler irrigation 살수관개 spud rod 스퍼드 롯 spud rope 스퍼드 로프 spur dike 돌제, 수제 square bar  사각강 square butt welding 아이형 맞대기용접 square craw washer 손톱각 와셔 square engine shed 장방형 차고 square footing 정사각형기초 square foundation 사각형기초 square lumber 각재 square nail 각못 square steel 사각강 square stone 각석 square washer 정사각형와셔 squeezer 스퀴저 stability 안정도 stability number 안정수 stability test 안정도시험 stabilization 안정처리, 안정화 stabilization pond 안정화 지 stabilizer 스테빌라이저, 안정제 stabilometer 스테빌로메터 stable channel 안정 하도 stable equilibrium 안정 평형 stable structure 안정 구조물 stacker 스태커 stadia constants 시거상수 stadia hair 시거선 stadia surveying 시거측량 staff 표척 staff gauge 간이수위표 stage construction 단계건설, 단계시공 stage-discharge curve 수위유량곡선 stage guage 수위계 stage hydrograph 수위수문곡선 stage of work execution 공정 stage-sediment discharge curve 수위유사량곡선 staggered bolt fastening 엇모배치 볼트체결, 지그재그 볼트체결 staggered intermittent fillet weld 스태거드 인터미텐트 용접 staggered intermittent fillet welding 엇모필렛용접 staggered runway 엇갈림 활주로 staggered welding 지그재그용접 staggered work hour 시차제 업무시간 staging 동바리, 스테이징 stainless steel 스텐레스강 stalling torque 정동토크 standard curing 표준양생 standard density 기준밀도 standard design compressive strength 콘크리트의 설계기준강도   of concrete standard error 표준오차 standard error of estimate 표준개산오차 standard gauge 표준궤간 standard gauge railway 표준궤간철도 standardized variate 표준화 변량 standard live load 표준활하중 standard maximum grade 표준경사 standard measuring 표준계량 standard of material renewal 재료갱환기준 standard oxydation reduction potential 표준산화환원전위 standard penetration test 표준관입시험 standard project flood 표준설계홍수량 standard project storm 표준설계강우량 standard(length) rail 정척레일 standard repulation of track 궤도정규 standard ruling grade 표준경사 standard sand 표준모래 standard sieve 표준체 standard steel tower 표준철탑 standard test 기준시험 standard time 표준시 standard trickling filter 표준살수여상법 standard wind velocity 기본풍속 standed siding 둑식 차막이 standing capacity of track 궤도수용력 standing wave 중복파 stand up time 자립시간 star section 성형단면 starting milestone 도로원표 starting resistance 출발저항 starting signal 출발신호기 starting station 출발역 start time 시작시각 start-up delay 출발지연시간 state boundary surface 상태경계면 state current flow 정상류 state of elastic equilibrium 탄성 평형 상태 state railway 국유철도 statical equilibrium 정적 평형 statically determinate primary system 정정 기본계 statically determinate reaction 정정 반력 statically determinate structure 정정 구조물 statically indeterminacy 부정정 statically indeterminate structure 부정정 구조물 statical redundant 정역학적 과잉력 static condensation 정적응축 static friction 정지 마찰 static immersion test 정적 박리시험 static load 정하중 statics 정역학 station 역, 정거장 stationary wave 정상파 station boundary post 정거장 구역표 station condition 측점조건 station front 역전광장 station office 역무실 station plaza 역전광장 station sign 정거장 중심표 station square 역전광장 station yard 정거장 구내 station-year method 관측점-기록년법 statistical study 통계조사 stay 스테이 stay bolt 스테이볼트 stay plate 띠판 steady flow 정상류 steady nonuniform flow 정상부등류 steady seepage 정상침투 steady-state circulation 정상 순환 steady state vibration 정상진동 steady uniform flow 정상등류 steam curing 증기양생 steam hammer 증기해머 steam(engine) locomotive 증기기관차 steam railway 증기철도 steam seasoning 증기건조 steel 강 steel arched timbering 강아치(식)동바리 steel arch rib 강지보공 steel bar 강봉, 봉강 steel bender 철근공 steel bent 강재벤트 steel casting 주강품 steel construction 철골구조 steel cores 강재심부 steel deck plate 강상판 steel fabrication 강재가공 steel fiber 강섬유 steel flats 평강 steel forgings 단강품 steel form 강제거푸집 steel framed reinforced concrete 철골철근콘크리트 steel grid floor 그리드바닥 steel index 강재지수 steel ingot 강괴 steel lining form 강재 라이닝 거푸집 steel pier 강교각 steel pile 강말뚝 steel pipe column 강관기둥 steel pipe filled with concrete 콘크리트강관 steel pipe joint 강관이음 steel pipe pile 강관말뚝 steel pipe sheet pile 강관널말뚝 steel plate 강판 steel plate deck 강상판 steel plate floor  강상판 steel plate join 강판접착 steel plates 후강판 steel ratio 철근비 steels for low temperature service 저온용 강재 steel sheet 강판 steel sheet pile 강널말뚝 steel skeleton building 철골건축물 steel skeleton construction 철골구조 steel structure 강구조, 철골구조 steel tie 철침목 steel tower 철탑 steel tube 강관 steel-wheel roller 철륜 롤러 steel wire 강선 steel work 철골공사 steepest grade 최급구배 steep slope 급경사 step-aeration activated sludge process 계단식폭기활성슬러지법 step bolt 스텝볼트 step-by-step integration 순차 적분 step-drawdown test 단계저하시험 step joint 이종레일 이음매 step joint bar 이형 이음매판 stepped footing 계단식확대기초 stepped platform 계단형 홈 stereographic projection 스테레오 투영, 입체투영 stereo model 입체모형 stereonet 입체투영망 stereo photogrammetry 입체사진측량 stereo photography 실체사진 stereoplotter 입체도화기 stereoscope 입체경 stereoscopic photographs 입체사진 stereoscopy 실체시, 입체시 sterilization 멸균 sterilized wastewater 살균폐수 stiffener 보강재 stiffening girder 보강형 stiffening truss 보강트러스 stiff-fissured clay 굳은균열점토 stiff leg derrick 스티프 레그 데릭 stiffness 강도 2), 스티프니스(아스팔트) stiffness coefficient 강도 영향계수 stiffness matrix 강도 행렬 stiffness method 강도법 stiff leg derrick 정각데릭 stiff leg derrick crane 스티프레그크레인 stilling basin  감세지 stilling pool 감세지 still water level 정수면, 정수위 still water surface 정수면 stinger 스팅거 stinking fish 이취어 stirrup 스터럽 stitch rivet 누빔리벳 stitch welding 누빔용접 stock rail 기본레일 stock yard 골재저장소 stoke 스토크 stoker 스토커 Stokes’ law 스톡스 법칙 STOL port 스톨 포트 stone 석재 stone block pavement 소포석포장, 판석포장 stone drain 맹거 stone durax pavement 소포석포장 stone mark 표석 stone masonry 돌쌓기 stone pavement 부석 포장, 포석포장 stone paving 돌깔기 stone powder 석분 stone revetment 돌붙임호안 stone work 돌공사 stoney gate 스토니게이트 stone filled drain ditch 맹배수구 stop control 정지표지제어 stop log 물받이, 물빈지, 빈지 stopped delay 정지지체 stopped time delay 정지지체 stopper 스톱퍼 1) stopping lane 정차대 stopping sight distance 정지시거 stop sign 정지표지 stop signal 정지신호 stop valve 지수밸브 stopway 정지대, 정지로 storage 저수 1) storage capacity 저수용량 storage coefficient 저류계수 storage dam 저수댐 storage-draft curve 저류량곡선 storage efficiency 유효저수율 storage equation 저류방정식 storage house 보관창고 storage house of freight 화물보관고 storage pool track 유치선 storage tank 저수조, 저조 2) storage(pool) time 유치시간 storm duration 호우지속기간 storm sewage 우수하수 storm sewer 우수거 storm surge 폭풍해일 storm surge barrier 해일 방파제 storm transposition 호우전이 storm warning 폭풍우 경보 storm wave 폭풍파 story moment 층모멘트 story shearing force 층 전단력 stoving 소건 straddled type monorail 과좌식 모노레일 straight asphalt 스트레이트 아스팔트 straight dozer 스트레이트도저 straight grain 곧은결, 정목 straight joint 통줄눈 strain 변형도 strain control 변위제어 strain ellipse 변형도 타원 strain energy 변형 에너지 strainer 스트레이너 strain hardening 변형 경화 strain rate 변형속도 strain softening 변형연화 strain steel tower 내장형철탑 strait 해협 strand 강연선, 스트랜드 stratification 성층, 층리 stratified flow 성층류 stratified flow in estuary 하구성층류 stratified random sampling 층화 임의 표본 추출 stratified soils 층상토 stratosphere 성층권 stray current corrosion 표류전류부식 stream bifurcation 하천분기 stream flow 하천유량 stream flow plant 수로식발전소 stream function 흐름 함수 stream line 유선 stream order 하천차수 stream pollution 하천오염 stream regimen 하천상 stream tube 유관 street 가로 street car 전차 street lighting 가로조명 street railway 시가 철도 strength 강도 1) strength-age relationship 강도-재령관계 strength design method 강도설계법 strengthening of track  궤도강화 strength of figure 도형의 강도 strength parameter 강도정수 strength reduction factor 강도감소계수 strength to weight ratio 비강도 stress 응력 stress coat 응력도료 stress component 응력 성분 stress concentration 응력 집중 stress controlled test 응력제어 시험 stress corrosion crack 응력부식균열 stress diagram 응력도 stress discontinuity 응력 불연속 stress distribution 응력 분포 stress due to long time loading 장기 응력 stress ellipsoid 응력 타원체 stresses due to end restraint 단부구속응력 stress function 응력 함수 stress history 응력이력 stress intensity factor 응력 확대 계수 stress invariant 응력 불변수 stress isobar 압력 구근 stress level 응력 수준 stress measurement 응력 측정 stress path 응력 경로 stress range 응력변화폭 stress ratio 최소최대응력비 stress relief 응력제거 stress relief heat treatment 응력제거열처리 stress resultant 단면력 stress-strain curve 응력-변형도 곡선 stress tensor 응력 텐서 striding 보측 strike 주향 strike of bed 주향 strike-slip fault 주향이동단층 stringer 세로보, 스트링거 strip 스트립, 종접합모형 strip adjustment 스트립조정, 종접합모형조정 strip foundation 띠기초 strip load 띠하중 stripping 스트리핑, 표토제거 stripping test 박리시험 stroke 스트로크 structural analysis 구조 해석 structural calculation 구조 계산 structural coordinate system 구조물 좌표계 structural design 구조 설계 structural flood mitigation 구조적 홍수완화 structural mechanics 구조 역학 structural petrology 구조암석학 structural rolled steel 일반구조용 압연강재 structural steel 구조용 강재 structural stiffness matrix 구조물 강성도 행렬 structure 구조물 strut 스트러트, 버팀대 strut load 지주하중 strutted beam bridge 파이형교 stub station 두단식 정거장 stub switch 둔단 포인트 stud bolt 스터드볼트 stud dowel 스터드 다우웰 stud welding 스터드용접 sturcture in roadway 선로구조물 sub-ballast 보조도상 sub-base 보조기층 subbase drainage 보조기층배수 sub basin  소유역 subcontract 하도급계약 subcontractor 하도급시공자 subcritical flow 상류 subdivided panel truss 분격 트러스 subgrade 노반, 노상 subgrade drainage 노상배수 subgrade institution 노상시설 subgrader 서브그레이더 subgrade restraint 노상의 마찰력저항 subgrader planer 서브그레이더플래너 submarine canyon 해저 협곡 submerged arc welding 서브머지드아크용접, 잠호 용접 submerged breakwater 잠제 submerged depth 담수심 submerged orifice 수중오리피스 submerged tunnel method 침매공법 submerged unit weight 수중단위중량 submerged weir 수중웨어 subpunching and reaming 서브펀칭 리밍 subscale 아들자 subsealing 서브실링, 언더실링 subsidence of track 궤도침하 subsidiary load 종하중 subsidiary main track 부본선 subsidiary signal 종속신호기 subsoil 하층토 substrate 기질, 생지, 소지 substructure 하부 구조 substructure work 하부공사 subsurface drainage 지하배수 subsurface flow 복류수 유출 subsurface hydrology 지하수문학 subsurface settlement 지중침하 sub tie 부인장재 suburban arterial 교외간선도로 suburban railway 교외철도 sub watershed 소유역 subway 지하철 subzero treatment 서브제로 처리 successive full joint erection method 축차강결법 suction 썩션 suction conveyer 석션콘베이어 suction dredger 펌프 준설선 suction pipe 흡입관 suction pump 석션펌프 sudden drawdown 수면급강하, 수위급강하 sulfate resistance cement 내황산염시멘트 sulfer dioxide 이산화황 sulfer oxide 유황산화물 sulfer recovery 유황회수 sulfide 황화물 sulfite waste liquor 아황산펄프폐액 sulfur band 설퍼밴드 sulfur crack 설퍼 크랙 sulfur dioxide poisoning 아황산가스중독 sulfuric acid 황산 sulfuric anhydride 무수황산 sulphuric acid resistant steel 내유산성강 summer wood 추재 sump pump 섬프펌프 sump rehandler 홉퍼중계선 sunk cost 매몰비용 supercharger 과급기 super-chlorination 과잉염소처리 supercooled water 과냉수 supercritical flow 사류 superelevation 편구배 superelevation runoff 편구배 변이구간 superimposed strength method 누가강도식 superintendent 공사감독자 supernatant liquor 상징액 super saturation 과포화 super structure 상부구조 super sulfated cement 고황산염 시멘트 supplementary control surveying 도근점측량 supplementary sign 보조표지 support condition 지점 조건 supported joint 지접법 supporting point 지점 support reaction 지점 반력 support settlement 지점 침하 surcharge 초과저수량 surcharge storage 초과저수량 surface-active agent 계면활성제 surface contraction 면수축 surface course 표층 surface curtain wall 표면차수벽 surface detention 표면지체수 surface discharge 수면방류 surface drag 표면항력 surface drainage 노면배수, 표면배수, 지면배수 surface dried specific gravity of 골재의 표건비중   aggregate surface dry condition of light weight 경량골재의 표면건조상태   aggregate surface dry saturated condition of 골재의 표면건조포화상태   aggregate surface float 수면부자 surface gravity wave 표면중력파 surface heater 표면가열기 surface irregularity 평탄성 surface irrigation 지면관개 surface load 상재하중 surface loading rate 표면부하율 surface method 상치식공법 surface moisture of aggregate 골재의 표면수 surface plate 정반 surface preparation 소지조정 surface railway 지표철도 surface retention 표면보류수 surface roughness 표면거칠기 surface runoff 표면유출 surface settlement 지표침하 surface tension 표면장력 surface texturing 표면마무리 surface touch joint 표면터치 이음 surface traction 면력 surface treatment 표면처리 surface treatment material 노면처리재 surface velocity 표면유속 surface water 지표수 surface water-content ratio of aggregate 골재의 표면수율 surface wave 표면파 surfactant 계면활성제 surf beat 서프 비이트 surf zone 쇄파대 surge 단파 surge bin 서어지 빈 surge chamber 조압수조 surge tank 조압수조 surging 서어징 surging breaker 쇄기파 surveillance and control 감시통제, 관제 surveying 측량학 surveying abstracts 측량성과 surveying data 측량성과 surveying technician 측량기능사 survey line 측선 2) survey markers 측량표 suspended joint 현접법 suspended load  부유사 suspended particle 현탁입자 suspended railway 현수철도 suspended scaffold 매단발판 suspended sediment 부유토사 suspended solid contact clarifier 고속응집침전 suspended solids 부유물질 suspended-solids contact unit 부유물접촉지 suspended span 걸린 경간 suspended type monorail 현수식 모노레일 suspended water 통기대수, 현수수 suspender 행거 suspending dust 부유분진 suspension 현탁액 suspension arch 서스펜션 아치 suspension bridge 현수교 suspension dredger 서스펜션드레저 suspension structure 현수구조 suspension tower 현수형 철탑 suspension wire 조가선 sustained volume rate 지속 교통류율 swamp 소택지 swash 스워시 swash bulkhead 제수벽 swash plate 제수벽 swash zone 스워시 구간 sway bracing 대경구 Swedish sounding 스웨덴식 사운딩 sweeping 주사 sweet crude oil 스위트원유 sweetening 스위트닝 swell 너울 swelling 팽윤 swelling ground 팽창성지반 swelling index 팽창지수 swelling pressure 팽창압력 swelling soil 팽창토 swelling test 침수팽창시험 swing bridge 선개교 swing-nose crossing 가동노즈크로싱 swing wire 스윙와이어 switch angle 입사각 switch back station 절선식정거장 switching signal 입환신호기 switch lever 전철레버 switch rod 전철간 switch sleeper  분기침목 switch stand 전환기 switch stand with ratch handle 랏치전환기, 표지전철기 switch stand with weight 웨이티드 포인트, 추전환기 switch throwing device 전환기, 전환장치 switch throwing of turnout level box 분기기 전환장치 switch tie 분기침목 switch tie tamper 스위치타이탬퍼 switch with full-web section point rail 모자형포인트 syenite 섬장암 symbiosis 공생 symmetrical bending 대칭 휨 symmetrical load 대칭 하중 symmetrical turnout 양개 분기기 symmetric buckling 대칭 좌굴 symmetric clothoid 기본클로소이드 symmetric matrix 대칭 행렬 symmetric structure 대칭 구조 synchronized signal system 동기신호체계 synchronous controller 동기제어기 synchronous measurement 동기측정 syncline 향사 synergy 상승작용 synopal 시노팔 synthetic aggregate 인공골재 synthetic detergent 합성세제 synthetic organic pestcide 합성유기살충제 synthetic unit hydrograph 합성단위유량도 systematic error 계통오차 system engineering 체계공학 system planning process 체계계획과정 TA 티 에이 table of the clothoid 클로소이드 표 tabular joint 판상절리 tacheometer 타키오미터 tack coat 택코트 tack weld 가부착용접 tack welding 가용접, 태그용접 tactical air navigation system 전술 항법장치 tailrace 방수로 tail water 하류수 tailwater level 방수위 tainter gate 테인터 게이트 take-off distance 이륙거리 take-off weight 이륙 중량 talk back 토크백 tamper 탬퍼 tamping 다지기 tamping rod 다짐대, 다짐봉 tamping roller 탬핑 롤러 tandem roller 탠덤롤러 tandem scraper 탠덤스크레이퍼 tangential force 접선력 tangential modulus of elasticity 접선 탄성 계수 tangential stress 접선 응력 tangent runout 횡단면 수평화구간 tangent section 직선구간 tanker 유조선, 탱커 tank trailer 탱크트레일러 tank wagon 탱크차 tap bolt 탭 볼트 tape 권척, 줄자, 테이프 taper 테이퍼 taper bolt 테이퍼볼트 tapered aeration 점감식폭기 tapered lane 태퍼 차선 tapered liner 테이퍼 라이너 tapered pin 테이퍼 핀 tapering rate 테이퍼비, 테이퍼율 taper liner 테이퍼 라이너 tapisable 타피샤블 tapped hole 나사구멍 tap plate 탭플레이트 tap water for miscellaneous purpose 중수도 tar 타르 tar concrete 타르콘크리트 target strength 목표강도, 배합강도 tariff rate 표정운임 tar macadam pavement 타르머캐덤포장 taxi 택시 taxi-holding position 유도 정지위치 taxilane 텍시레인 taxi-sign system 유도표 방식 taxiway 유도로 taxiway marking 유도로 표지 T-beam 티형보 TBM 티비엠 TCA cycle 구연산회로 TCR 티시알 technical specification 시방 tectonic geology 구조지질학 telescopic form 텔리스코픽폼 telford base 텔포드 기초 telodrin 텔로드린 temperary hard water 일시경수 temperature bar 온도철근 temperature crack 온도균열 temperature inversion 기온역전 temperature reversion 온도역전 temperature susceptibility 감온성 tempering 뜨임 template 템플레이트 template shop 현도장 template tamper 템플레이트 템퍼 temporary bench mark 가수준점, 임시수준점 temporary bridge 가교 temporary connection member 일시적연결재 temporary dwelling 가설주택 temporary hardness 일시경도 temporary invert arch 가인버트 temporary line 임시선 temporary mark 임시설치표지 temporary material 가설재료 temporary platform 가설승강장 temporary point 가설표지 temporary removal and reconstruction  궤도임시철거 및 복구   of track temporary removal of track 궤도임시철거 temporary signal 임시신호기 temporary stage 가설잔교 temporary station 가설표지 temporary support 가지보공 temporary support of track 궤도임시받침 temporary tightening 가조임 temporary upper and reconstruction 궤도임시들기 및 복구   of track temporary work 가설공사 tendon 텐던, 긴장재 tenon joint 장부이음 tensile crack 인장균열 tensile flange 인장플랜지 tensile force 인장력, 장력 tensile load 인장 하중 tensile strain 인장 변형도 tensile strength 인장 강도 tensile stress 인장 응력 tensiometer 기체장력계 tension 인장, 장력 tension bar 인장재, 인장철근 tension bolt 인장 볼트 tension pile 인장말뚝 tension rod 인장 롯드 tension type joint 인장이음 tention joint 장력절리 terminal apron 터미널 계류장 terminal area 터미널 구역 terminal cost 터미널 비용 terminal facility 부두 terminal settling velocity 종말침강속도 terminal station 종단역, 종단정거장 terminal treatment plant 종말처리장 terra cotta 테라코타 terrestrial photogrammetry 지상사진측량 territorial jurisdiction boundary post 관할구역표 test 시험 test adit 시굴횡갱 test-car method 시험차 방법 test chute 테스트슈트 test for coagulation at low teperature 저온 안정도 시험 test for residue retained 체 잔류물 시험 test for sodium chloride content 염분 함유량시험 test hammer 시험해머, 테스트해머 testing method for drinking water 음용수수질시험법 test piece 공시체 test pile 시험말뚝 test pit 시굴, 시굴갱 tetra calcium alumina ferrite 알류민산철 사석회 tetrapod 테트라포드 texture 조직 texture depth 텍스튜어 뎁스 thalweg 유심선 thawing 융해 thematic map 주제도 theodolite 데오돌라이트 theoretical maximum density 이론 최대밀도 theorelical(mathematical) point 이론 교차점 theoretical throat thickness 이론목두께 the origin of planes 극점 theory of stationary total potential energy 정류 에너지 정리 the right to enjoy sunshine 일조권 thermal conditioning 열처리 thermal conductivity 열전도율 thermal efficiency 열효율 thermal fatigue 열피로 thermal insulatory materials 단열재료 thermal pollution 열오염 thermal refining 조질 thermal spraying 용사 thermal stress 열 응력, 온도 응력 thermit welding 테르밋용접 thermocline 수온약층 thermoelastic displacement 열 탄성 변위 thermoelasticity 열 탄성학 thermohardening 열경화성 thermophilic bacteria 고온성균 thermoplasticity 열가소성 thermoplastic resin 열가소성수지 thermosetting 열경화성 thermosetting resin 열경화성수지 thickening 농축 thick-lift method 씨크리프트 공법 thickness controller 두께조절기 thickness guage 두께지시계 thickness of ballast 도상두께 thickness of pavement 포장두께 thick-walled tube 후막관 Thiessen polygon 티센다각형 thimble 접륜 thin-layer chromatography 박층크로마토그래피법 thin surfacing test 박막가열시험 thin walled structure 박판 구조물 thin walled sampler 신월샘플러 third rail 제3레일 third railway 삼레일철도 thirth class road crossing 3종건널목 thirtieth highest hour factor 30번째 시간계수 thirtieth highest hourly volume 삼십 번째 시간교통량 thixotropy 강도회복현상, 딕소트로피 thread 나사 thread part 나사부 three-axis roller 삼축롤러 three chord bridge 삼현교 three-dimensional alignment 입체선형 three-dimensional consolidation 삼차원압밀 three dimensional stress 3차원 응력 three elements of force 힘의 3요소 three lane road 삼차선 도로 three-layer filtration 삼층여과 three-moment equation 3연 모멘트 방정식 three phases of soil 흙의 삼상 three point problem 삼점문제 three throw turmout 삼지분기기 three tie joint 삼정이음매법 three-wheel roller 삼륜롤러 threshold odor number 한계취기수, 희석배수치 throat depth 목두께 throat of frog 크로싱인후 through band 진행대 through bridge 하로교 through station 관통식 정차장, 통과역 through traffic 통과교통 through train 직통열차 throwing over the switch under the train 분기기도중전환 throw of a point rail 분기기동정 thumbler 텀블러 thunderstorm 뇌우 tidal amplitude 조석 진폭 tidal barrage 방조보 tidal bench mark 조위 기준면 tidal bore 조석 단파 tidal channel 조석 수로 tidal component 분조, 조석 성분 tidal constant 조석 상수 tidal constituent 분조, 조석 성분 tidal current 조류 2) tidal current chart 조류도 tidal current observation 조류 관측 tidal curve 조위 곡선 tidal datum 조위 기준면 tidal delta 조석 삼각주 tidal difference 조차 tidal dock 조석 선거 tidal entrance 조석 유입구 tidal epoch 지조위상 tidal excursion 조석 이동거리 tidal flushing 조석 플러싱 tidal harbor 감조항 tidal hydraulics 조석 수리학 tidal inlet 조석 유입구 tidal lag 조석 지각 tidal land 간사지 tidal land reclamation 해면간척, 해안 간척 tidal marsh 감조습지 tidal observation 검조 tidal outlet 조석 유출구 tidal portion 감조구역 tidal power plant 조력 발전소 tidal prediction 조석 예보 tidal prism 조량 tidal range 조차 tidal river 감조하천 tidal station 검조소 tidal table 조석표 tidal water 조수 tidal water level 조위 tidal wave 조석파 tide 조석 2) tide gage 검조기 tide gate 방조게이트, 방조 수문 tide generator 조석 발생기 tide guard 조수 갑문 tideless river 무조하천 tide lock 조수 갑문 tide-producing force 기조력 tide records 조석 기록 tide water 간조 tide water level 조위 tie 타이 tie addition 침목증설 tie-bar 타이바 tie beam 연결보 tied arch 타이드 아치 tie-line method 계선법, 타이라인법 tie pad 타이패드 tie plate 띠판, 타이 플레이트 tie-point 타이포인트, 횡접합점 tie rod 타이 로드 tie spacing 침목간격 tie strut 타이 스트러트 tie tamper 타력구배, 타이탬퍼 TIG arc welding 티그용접 tightening 정식조이기 tile 타일 tile roofer 기와공 tile setter 타일공 tilt dozer 틸트도저 tilting bearing 로커지지 tilting mixer 경사식믹서, 경사식혼합기 tilting of rail 레일경좌 tiltmeter 경사계, 벽면 경사계 timber 목재 timbering centring 지보공 timber pile 나무말뚝 time between trains 열차상간 time cost 시간비용 time-distance curve 주시곡선 time factor 시간계수 time mean speed 시간 평균 속도 time of arrival 유달시간 time of concentration 도달시간, 유달시간, 집중시간 time of day mode 시간제 방법 time of flow 유하시간 time schedule of works 공정표 time-settlement curve 시간-침하곡선 time space diagram 시공도 1) time split 시간분할 time utility 시간적 효용 TIN 틴 T-intersection 티형 평면교차 tip 노즐 tired dozer 타이어도저 titan crane 타이탄기중기 titanium 티타늄 titration 적정 T-joint 티이음 T-junction 티형 입체교차 TM 티엠 TOC 티오시 TOD 티오디 toe circle 선단원 toe failure 사면선단파괴, 선단파괴 toeless joint bar 아이형 이음매판 toe of crossing 크로싱전단 toe of frog 크로싱전단 toe of slope 비탈기슭 toe of switch 포인트전단 toe of weld 지단 toe stopper 비탈막기공 tolerance 공차, 허용차 tolerance class 등급 tolerance for pesticide residue 농약잔류기준 toll 통행료 toll financing 통행료 재정 toll pricing 통행료 책정 tongue rail 첨단레일, 텅레일 tool steel 공구강 toothed platform 빗형 홈 toothed railway 치궤조식철도 top cut method 역벤치식굴착공법 topeka 토페카 top end 끝마구리 top end bolt 스터드볼트 top flange 상플랜지 top form 상부거푸집 top heading method 윗도갱식굴착 top of rail level 레일면 top of slope 비탈머리 topographic control point 도근점 topographic control point surveying 도근측량 topographic line 지성선 topographic map 지형도 topographic surveying 지형측량 topography 지형 topology 위상관계 topping 토핑 toppling failure 전도파괴 top soil 표토 torch 토치 toroidal shells 환형 쉘 torque 토크 torque coefficient 토크계수 torque control method 토크조절법 torque wrench 토크렌치 torrent 급류, 폭류계곡 torshear type bolt 토르쉐어 타이프 볼트 torsion 비틂 torsional buckling 비틂 좌굴 torsional flexural buckling 비틂-휨 좌굴 torsional lateral buckling 비틂-횡 좌굴 torsional rigidity 비틂 강성 torsional shear test 비틀림전단시험 torsional strength 비틂 강도 torsional stress 비틂 응력 torsion bar[spring] 토션바 torsion constant 비틂 상수 torsion flexibility 비틂 유연도 tortional reinforcement 비틀림철근 tortuosity 굴곡비 total departure 합경거 total energy 총에너지 total float time 총여유시간 total head 전수두, 총수두 totalizer 누가우량계 total latitude 합위거 total organic carbon 총유기탄소 total oxygen demand 총산소요구량 total porosity 전간극률 total pressure 총압력 total reserve fuel 총 예비 연료 total residual solids 총증발잔류물 total solid 총고형물 Total Station 토탈스테이션 total storage capacity 총저수용량 total stress 전응력 total stress analysis 전응력해석법 total stress cell 전 응력계 total travel time 총통행시간 total vertical stress 전연직응력 total wheel base 전축거 touch-down zone lights 접지대 등 touch station 접촉정거장 toughness 인성 toughness tenacity test 타프니스 시험 tourmaline 전기석 towboat 예인선 towed scraper 견인식스크레이퍼 tower crane 타워 크레인, 탑기중기 tower excavator 탑형굴착기 towing(force) 예항(력) toxicity 독성 TP 티피 tracer 추적자 trachyte 조면암 track 궤도 track blocking 선로차단 track bolt 이음매판 볼트, 이음 볼트 track bolt hole 이음매 구멍 track burying 선로매몰 track cable 운반케이블 track capacity 선로용량 track center 궤도중심 track circuit 궤도회로, 궤도회로장치 track coefficient 궤도계수 track component 궤도재료 track construction 궤도부설 track deformation 장출 track depression track lowing 궤도낮추기 track dynamics 궤도역학 track failure 선로지장 track gauge 궤간 track improvement 선로개량 track inspection 선로검사 track inspection car 궤도검측차 track insulation 궤도절연 track irregularity  궤도틀림 track jack 트랙 재크 track length 궤도연장 track leveller 궤도용 수준기 track maintenance gang 선로반 track management 궤도관리 track material 궤도재료 track on turnout side 분기선 track panel / frame track span / skeleton 궤광 track patrol 선로순회 track renewal 궤도갱신 track scale 계중대 track slab 궤도슬래브 track strengthening 궤도강화 track stress 궤도응력 track structure 궤도구조 track tread 윤거 track without ballast 무도상궤도 traction 유사량, 표면력   tractional load 소류사 traction characteristics 견인특성 traction-free surface 자유 표면 tractive capacity determining grade 사정경사, 제한구배 tractive effect of locomotive 동력차견인효율 tractive force 견인력, 소류력 tractive power 견인력 tractive resistance 견인저항 tractor 트랙터 tractor drill 트랙터드릴 tractor shovel 트랙터셔블 tractor drawn scraper 트랙터스크레이퍼 trade off analysis 절충분석 trade-off between travel and facility cost 통행-시설비용절충 traffic 교통량 trafficability 주행성, 트래피커빌리티 traffic accident rate 교통사고율 traffic actuated signal control system 교통감응신호제어체계 traffic-adjusted signal 교통적응식 신호 traffic assignment 교통량배분, 교통배분 traffic barricade 교통차단시설 traffic barrier 교통방호책 traffic capacity 교통용량 traffic category 교통량구분 traffic composition 교통구성 traffic condition 교통조건 traffic conflict 교통상충 traffic control condition 교통통제조건 traffic control device 교통관리시설, 교통통제설비, 교통통제시설 traffic delineator 교통유도표지, 시선 유도표지 traffic demand management 교통수요관리 traffic density 교통밀도 traffic engineering 교통공학 traffic flow  교통류 traffic forecasting 교통예측 traffic generator 교통발생원 traffic island 교통섬 traffic jam 교통체증 traffic network 교통망 traffic network equilibrium 교통망 평형 traffic operation 교통운영 traffic safety facilities 교통안전시설 traffic sign 교통표지 traffic signal 교통신호 traffic signal system 교통신호체계 traffic stream 교통류 traffic volume 교통량 traffic zone 교통지구 trailer 부수차, 트레일러 trailer type roller 트레일러형롤러 trailing turnout 배향분기기 train control car 제어차 training dyke  도류제 training levee 도류제 training wall 도류벽 train interval 운전시격 train load 열차하중 train make-up track 조성선 train operating obstruction 운전장애 train protection 열차방호 train resistance 열차저항 train speed 열차속도 train vibration 열차진동 tranquil flow 상류 tranquillity 정온도 trans-dermal toxicity 경피독성 transducer 트랜스듀서 transfer bond length 도입부착길이 transfer formula 평행축의 정리 transfer length 전달길이 transfer of prestress 프리스트레스 도입 transferred benefit 전가편익 transferred point 이사점 transfer strength 도입시 강도 transfer table 천차대 transformation temperature 변태점 transformed section 환산 단면 transformed value 변환가치 transit 대중교통(수단), 트랜싯 transit industry 대중교통산업 transition part 완화구간 transition region 천이영역 transition surface 전이표면 transition tangent 완화절선 transition temperature 변이온도, 천이온도 transition zone filter zone 중간층 transit mixed concrete 트랜싯믹스트콘크리트 transiton curve 완화곡선 transit passengers 통과여객 transit rule 트랜싯법칙 translucent concrete 트랜스루센트콘크리트 transmissibility coefficient 전달계수 transmission 송수, 투과 transmission length 전달길이 transmissivity 전달계수 transparency 투시도 1) transparency meter 투시도계 transpiration 증산 transpiration ratio 증산비 transport and road research laboratory 티알알엘 transportation design 교통설계 transportation engineering 교통공학, 운송공학 transportation improvement program 단기교통개선계획 transportation of CWR 장대레일수송 transportation operation 교통운용 transportation planning 교통계획 transportation sector 교통부문, 수송부문 transportation system 교통체계 transportation systems management 교통체계관리 transportation work 운반작업 transported deposit 퇴적토 transported soil 퇴적토 trans-track carrier 도선장치 transversal wave 횡파 transverse contraction joint 가로 수축 줄눈 transverse expansion joint 가로 팽창 줄눈 transverse joints 가로줄눈 transverse member 수평부재 transverse mercator projection 티엠도법 transverse prestress 횡방향 프리스트레스 transverse stiffener 수직보강재, 횡스티프너 trap efficiency 토사 포착률 trapezoidal weir 사다리꼴 웨어, 제형웨어 travel 통행 travel benefits 주행편익 travel cost 통행비용 travel demand 통행수요 travel forecasting 통행예측 travelling crane 이동기중기, 주행식크레인 travelling distributor 주행식살수기 travelling form 이동거푸집 travelling form 트래블링폼 travelling lane 주행차선 travelling load system 연행 이동 하중 travel mode 통행수단 travel pattern 통행패턴 travel speed 통행속도 travel time 유하시간, 통행시간 travel-time delay 통행시간지체 traverse network 다각망, 트래버스망 traverse surveying 다각측량 traversing 다각측량, 트래버스측량 tread 트레드 treated sleeper 방부침목, 주약침목 treated tie 주약침목 treatment after hardening of concrete 경화후처리 treatment before hardening of concrete 경화전처리 tree dozer 트리도우저 tremie concrete 트레미콘크리트 trench 트렌치 trench excavation 줄터파기 trench hoe 트렌치호 trench method 측구식 개착공법, 침매식공법 trench roller 트렌치롤러 trench sheel pile 트렌치시트말뚝 trench cut method 트렌치컷공법 trestle bridge 트레슬교 trial batch 시험배치 trial hole 시굴공 trial mix 시험배합 trial temporary assembly 가조립 triangle net truss 삼각망트러스 triangle of error 시오삼각형 triangle steel tower 삼각철탑 triangular irregular network 불규칙삼각망 triangular shoe 삼각슈 triangular truss  삼현교 triangular weir 삼각웨어 triangulation 삼각측량 triangulation network 삼각망 triangulation point  삼각점 triangulation station 삼각점 Triassic period 삼첩기 triaxial compression test 삼축압축시험 triaxial consolidation test 삼축압밀시험 triaxial stress 3축 응력 triaxial tandem roller 삼축탠덤롤러 tributary 지류 trichlorobenzene 트리클로로벤젠 trichloroethane 트리클로로에탄 trichloroethylene 트리클로로에틸렌 trickling filter 살수여상 trigonometric leveling 삼각고저측량, 삼각수준측량 trihalomethane 트리할로메탄 trilateration 삼변측량 trim hole 주변공 trimming 다듬질 trimming die 제거금형 trimming timber preparation 바심질 trip 통행 trip assignment 통행배분 trip attraction 통행유입 trip distribution 통행분포 trip end 통행단 trip end model 통행단모형 trip generation 통행발생 trip-interchange model 통행교차모형 trip length 통행길이 trip matrix 통행행렬 trip payment 통행지불 trip production 통행유출 trip purpose 통행목적 trip time 통행시간 trip utility 통행효용성 trip value 통행가치 tri cone bit 트라이콘비트 trolley 트롤리 trolley bus 전로버스, 트롤리 버스 trolley coach 무궤도전차, 전로버스 trolley weigh batcher 트롤리배쳐 trolley wire 가공전차선, 전차선 troostite 트루우스타이트 trophic level 영양단계 tropical cyclone 열대성저기압 tropical timber 열대재 tropic tide 회귀조 trough mixer 강제혼합기 trowel finish 흙손마무리 truck 트럭 truck crane 트럭기중기 truck mixer 트럭믹서 truck scale 트럭 스케일 truck shovel 트럭셔블 truck terminal 트럭터미널 truck tractor 트럭트랙터 true bearing 진북방위각 true fungi 진균류 true stress 진응력, 참응력 true stress-strain curve 참응력-변형도 곡선 trumpet interchange 트럼펫형 입체교차로 trunk 간선 truss 트러스 trussed arch bridge 트러스 아치교 truss system temporary support 트러스식가받침 T-section 티형강 T-shore 티형지주 tsunami 지진 해일 tsunami barrier  쓰나미 방파제 tsunami breakwater 쓰나미 방파제, 해일 방파제 tube and coupler shoring 파이프 지주 tubing machine 튜빙머신 tuff 응회암 tug boat 끌배, 예인선 tumbling type hopper barge 경도식토운선 tungsten steel 텅스텐강 tunnel 터널 tunnel boring machine 터널굴착기, 터널보링머신 tunnel cleaner 터널 청소차 tunnel diesel locomotive 갱내용디젤기관차 tunnel facilities  갱내설비 tunnel for falling ston 낙석덮개 tunneling spoil 버력 tunnel kiln 터널 킬른 tunnel spillway 터널 여수로 tunnel support 지보공 tunnel support pattern 지보패턴 tunnel surveying 터널측량 tunnel work  갱내설비 turbidity 탁도 turbid matter 탁질 turbo blower 터보송풍기 turbulent diffusion 난류확산 turbulent flow 난류 turnaround taxiway 선회 유도로 turn buckle 턴버클 turnean rocker 터넌로커 turning lane 회전차선 turning point 이기점, 전환점 turning rail for turn table 전차대 회전레일 turning track 전향선 turnning of rail 레일전환 turn of the tide 조류 반전 turn of tidal current 조류 반전 turnout 분기기, 양보차선 turnout curve behind crossing 분기부대곡선 turnout number 분기기 번호 turnout on inside of a curve 곡선내방분기기 turnout on outside of a curve 곡선외방분기기 turnout renewal  분기기갱환 turnout replacement 분기기갱환 turnout track 분기선 turnover 회전율 turn table 전차대, 턴테이블 twin lock 쌍갑문 twin tunnel 병렬 터널 twin twisted bar 이연강봉 twister 트위스터 twisting angle 비틂각 two-dimensional consolidation 이차원 압밀 two-lane road 이차선 도로 two-position system 이위식 two tie joint 이정 이음매법 two-way left-turn lane 양방 좌회전차선 two way slab 이방향슬래브 two-way street 양방통행로 two stage curing 이단계양생 two stage diversion 절반물막이방식 U bolt 유볼트 U-butt welding 유형맞대기용접 U-dozer 유도저 UIC 유아이씨 ultimate bearing capacity 극한지지력 ultimate BOD 최종생화학적산소요구량 ultimate limit state 극한한계상태 ultimate load 극한하중 ultimate load design 극한강설계법 ultimate moment 극한모멘트 ultimate shear force 극한전단력 ultimate shear strength 극한전단강도 ultimate strain 극한변형도, 종국변형도 ultimate strength 극한강도, 종국강도, 파괴 강도 ultimate strength design 극한강설계법 ultimate stress 극한 응력 ultimate torsional moment 극한비틂모멘트 ultrabasic rock 초염기성암 ultrafiltration 한외여과 ultra pure water 초순수 ultrasonic cleaning 초음파 세정 ultrasonic flow detection test 초음파탐상검사 ultrasonic flow detector 초음파탐상기 ultrasonic machining 초음파가공 ultrasonic pulse test 초음파 펄스시험 ultrasonic rail tester 초음파탐상기 ultrasonic thickness detector 초음파두께측정기 ultraviolet hazard 자외선장해 unbalanced flow 불균형 교통류 unbalanced flow street 불균형 통행도로 unbalanced moment 불평형 모멘트 unbonded tendon 부착안된 텐던 unconfined acquifer 비피압 대수층 unconfined compression strength 일축압축강도 unconfined compression test 일축압축시험 unconfined groundwater 비피압지하수 unconformity 부정합 unconsolidated undrained shear test 비압밀비배수전단시험 uncontrolled intersection 비통제 교차로 undamped vibration 비감쇠 진동 under bead crack 비드밑 균열 undercoating 초벌바름 under current 잠류 undercut 언더컷 underdrainage 하부집수 underdrains 하부집수장치 underground cavern 지하공동 underground excavation 지하굴착 underground facility surveying 지중측량기, 지하시설물측량 underground line 지하선 underground station 지하역 underground surveying 지하측량 underlaying 밑채움 undermining blast 갱도발파 underpass 지하통로 underpinning 기초보강, 언더피닝 under-reinforced beam 과소철근 보 under sealing 언더실링 undertow 해향 저류 underwater blasting 수중발파 underwater concrete 수중콘크리트 underwater cutting 수중절단 underwater welding 수중용접 undisturbed sample 불교란시료, 흐트러지지 않는 시료 undrained shear strength 비배수전단강도 undrained shear test 비배수전단시험 undular hydraulic jump 파상도수 unequal angle 부등변ㄱ형강 uniaxial stress 일축 응력 uniaxial tension 일축 인장 uniaxial tension test 일축인장시험 unified soil classification system 통일분류법 unified thread 유니파이드 나사 uniform delay 균일지체 uniform flow 등류 uniformity 균등성 uniformly distributed load 등분포 하중 uniform toll 균일통행료 uniform torsion 균일 비틂 uninterrupted flow 연속교통류 union joint 유니온 이음 union melt welding 유니온멜트용접 unit cost estimation 품셈 unit cost standards 품셈 unit hydrograph 단위도, 단위유량도 unit load 단위 하중 unit load method 단위 하중법 unit vehicle extension interval 단위연장시간 unit volume change 단위 체적 변화 unit volume of coarse aggregate 단위 굵은골재 용적 unit weight 단위 중량, 단위체적중량 unit weight of cement 단위시멘트량 unit price contract 단가계약 universal coupling 유니버설 이음 universal joint 유니버설 이음 universal time 세계시 unknown point 미지점 unleaded gasoline 무연휘발유 unloading 제하 unmovable section 부동구간 U notch 유노치 unplasticied polyvinyl chloride pipe 경질염화비닐관 unreeler 언리러 unsaturated zone 통기대 unsaturation 불포화 unscreened gravel 막자갈 unsignalized intersection 비신호 교차로 unstable equilibrium 불안정 평형 unstable structure 불안정 구조물 unsteady flow 부정류 unsteady non-uniform flow 부정부등류, 비정상부등류 unsteady uniform flow 부정등류, 비정상등류 unsteady varied flow 비정상변화류 unstiffened suspension bridge 무보강현수교 unsymmetrical bending 비대칭 휨 unsymmetrical split turnout 진분분기기 unsymmetric clothoid 비대칭형 클로소이드 unsymmetric load 비대칭 하중 untreated sleeper 소재침목 up draft 상향통풍 up flow 상승류 upland channel 산지수로 uplift 업리프트 uplift pressure 양압력 up main track 상본선 upper chord 상현재 upper critical velocity 상한계유속 upper flange 상플랜지 upper of track 궤도들기 upper plate 상반 upper road bed 상부노체 upper specification limit 상한규격식 upper structure 상부구조 upper subgrade 상부노상 upper tightening screw 상부고정나사 upright laying 세워쌓기 upright panel 세로판벽 upset(butt) welding 업셋 용접 upstream control 상류조절 upstream face 상류면 upstream facing rock fill dam 표면차수벽형 댐 up track 상선 uranium 우라늄 urban area 도시지역 urban desert 도시사막 urban expressway 도시고속도로 urban facilities 도시시설 urban hydrology 도시수문학 urban information system 도시정보체계 urban rail transit 도시철도대중교통 urban sprawl 도시확산 urban surveying 시가지 측량 urban traffic control system 도시교통통제체계 urban transit 도시대중교통 urban transportation planning 도시교통계획 useful length of platform 승강장 유효장 use of heavier rails 레일중량화 user cost 사용자 비용 user tax 사용자 요금 user travel benefit 사용자 통행편익 user’s surplus 사용자 잉여 U-shaped rib of orthotropic steel deck 강상판용U형강 utility 유틸리티 utility function 효용함수 utility tunnel 공동구 UTM projection 유티엠도법 UTM system 유티엠좌표계 U trap 유트랩 U-turn 유자형 회전 vacuum capillary viscometer 감압모관식 점도계 vacuum concrete 진공 콘크리트 공법 vacuum evaporation 진공증발 vacuum filtration 감압여과, 진공여과 vacuum processed concrete 진공콘크리트 vacuum pump 진공펌프 vacuum seasoning 진공건조 vadose water 통기대수, 현수수 valet parking 안내원 주차 value of subgrade reaction 노상지지력치 value of time 시간가치 vane shear test 베인전단시험 vanish 바니시 vanpool 밴풀, 소형승합차같이타기 Van’t Hoff rule 반트호프법칙 variable center arch dam 변반경아아치댐 variable cost 가변비용 varied flow 변화류, 부등류 varied flow function 부등류함수 VB apparatus 브이비(VB)시험장치 VB test 브이비(VB)시험 vector 벡터 vee butt welding 브이(V)형맞기용접 vehicle detector 차량감지기 vehicle dispatching 배차 vehicle-kilometer 대-킬로미터 vehicle operating cost 차량운행비 vehicle ownership cost 차량보유비 velocity fluctuation 속도변동 velocity gradient 유속구배 velocity head 속도수두 velocity logging 속도검층 velocity of approach 접근유속 velocity potential 속도포텐샬 vena contracta 베나 콘트랙터, 수축단면 veneer 베니어 venous industry 정맥산업 vented foam 벤티드포움 ventilation 환기 ventilation pipe 환기관 venturi flume 벤츄리플륨 venturi meter 벤츄리 메터 venturi scrubber 벤츄리세척기 vernier 버니어, 아들자, 유표 vertical alignment 종단선형 vertical angle 수직각, 고저각, 연직각 vertical axis 연직축 vertical beam flaw detection method 수직탐상법 vertical construction joint 연직시공이음 vertical curve 종단곡선 vertical curve for smoothing pavement 완충종단곡선   edge vertical distribution concepts 터미널 수직 배치 형태 vertical down welding 수직하향용접 vertical drain 연직배수 vertical exaggeration 과고감 vertical joint 수직이음 vertical load 연직 하중 vertical member 수직재 vertical photography 수직사진 vertical position 수직자세 vertical pump 수직형펌프 vertical sand drain 연직 샌드 드레인 vertical shaft 수직갱도 vertical split 종열 vertical stiffener 수직보강재 vertical stirrup 수직스터럽 vertical take-off landing aircraft 수직이착륙기 very high-frequency omnirange radio 초단파 전방향 무선표지시설 very long baseline interferometer 초장기선간섭계 very soft ground 초연약지반 vessel 선박 vessel structure 용기구조물 vetrified-clay pipe 도관 viaduct 고가교, 육교 vibrated concrete 진동콘크리트 vibrating compaction 진동다짐 vibrating dozer 진동도저 vibrating feeder 진동피이더 vibrating joint cutter 진동식줄눈카터 vibrating plate compactor 진동판다짐기 vibrating table consistency test 진동대식 컨시스턴시 시험 vibrating tire roller 진동식고무타이어롤러 vibration 열차동요, 진동 vibration absorber 방진재료 vibration controlled blasting 진동제어발파 vibration damper 제진장치 vibration damping equipment 진동감쇠장치 vibration exciter 기진기 vibration hazard 진동장해 vibration insulation equipment 진동절연장치 vibration isolation 진동 격리, 진동방지 vibration isolation wall barrier 방진벽 vibration level 진동레벨 vibration mode 진동 모드 vibration reductive materials 제진재 vibration roller 진동롤러 vibrator 진동기 vibrator for concrete pavement 콘크리트포장진동기 vibratory roller 진동식롤러 vibrofloatation method 바이브로플로테이션 공법 vibro-isolating support 방진지지 vibro pile driver 진동식항타기 Vickers hardness 비커스경도 victoric joint 빅트릭이음 Vierendeel bridge 피렌델 교 view 일반도 viewscape surveying 경관측량 vinyl chloride 염화비닐 vinyl resin 비닐계수지 virtual displacement 가상 변위 virtual grade 가상구배 virus 바이러스 vis 비스 viscoelasticity 점탄성 viscoelastoplasticity 점탄소성 viscometer 점도계 viscoplasticity 점소성 viscosimeter 점도계 viscosity 점성 viscosity test 점도시험 viscous damping 점성 감쇠 viscous flow 점성류 viscous fluid 점성유체 viscous sublayer 점성저층 visual approach slope indicator system 진입각 지시등 visual flight rule condition 시계비행방식상태 visual inspection 외관검사 visual light rule 시계비행방식 VLBI 브이엘비아이 VMA 브이 엠 에이 V notch 브이 노치, 삼각웨어 void 간극, 패임 void cement ratio 공극시멘트비 void ratio 간극비, 공극비 voids in the mineral aggregate 골재간극률 volatile organic matter 휘발성유기물 volatile solid(VS) 휘발성고형물 volatile solid ignition loss 강열감량 volatile solids 강열감량고형물질 volatile suspended solid(VSS) 휘발성부유고형물 volcanic activity 화산활동 volcanic rock 화산암 volcano 화산 volume-capacity ratio 교통량-용량비 volume change 체적 변화 volume-density controller 교통량-밀도 제어기 volume mix 체적배합 volume studies 교통량 조사 volumetric method 체적방법 volumetric strain 체적 변형, 체적변형률 VORTAC 볼텍 V-shaped street drain 브이(V)형옆도랑 wading measurement 도섭측량 wading rod 도섭표척 wagon braking 화차제동 wagon drill 왜곤드릴 waiting room 대합실 waiting time 대기시간 wale 띠장 walking dragline 워킹드래그라인 walkway 보도, 인도 wall caisson 벽케이슨 wall footing 벽확대기초 wall friction 벽면마찰 wall wharf 계선안 warehouse 창고 warming separation 가온분리 warning lead time 경보선행시간 warning sign 경고표지, 주의표지 warning water level 경계수위 warping 뒴 warping function 뒴 함수 warping joint 비틀림 줄눈 warping rigidity 뒴 강도 warping snaking 장출 warping stress 비틀림 구속응력 warping torsion 뒴 비틂 warp of rail 레일버릇 warrant 준거 warrbit 와비트공법 warrbit mortar 와비트모르터 Warren truss 와렌트러스 wash boring 워시보링 washer 세정기, 와셔 washer based nut 와셔 너트 washer faced nut 와셔 너트 washing 세정 washing test 씻기시험 washing track 세차선 wash pipe 와시파이프 wash water 세척수 waste 잡배수, 폐기물 wastewater 잡배수, 폐수 wastewater collection system 하수배수계통 wastewater disposal 폐수처분, 하수처분 wastewater flowrate 하수량 wastewater reclamation 하수재생 wastewater reuse 하수재이용 wastewater treatment 폐수처리, 하수처리 wastewater treatment facilities 하수처리시설 wastewater treatment plant 하수처리장 water 물 water absorption 흡수량(골재) water absorption ratio 흡수율 water bearing stratum 대수층 water-binder ratio 물․결합재비 water body  수괴 waterborne disease 수인성 전염병 water-budget analysis 물수지분석 water-cement ratio law 물-시멘트비 법칙 water column 수주 water content 함수비 water content of aggregate 골재의 함수량 water content of clouds 구름물량 water content ratio of aggregate 골재의 함수율 water conveyance 도수 1) water cooling 수냉조작 water curing 수중양생 water depth 수심 water distribution 배수 3) water equivalent of snow 눈물당량 water facilities 급수설비 water for public 공공용수 water gate 수문 waterglass 물유리 water hammer 수격작용, 수충작용 water hammer pressure 수격압 water hyacinth 물옥잠, 히야신스 water intake 취수 water jet 물품기 water jetting 사수공 water law 수법 water level  수위 water mass 수괴 water meter sign 양수표 water pollutants 수질오염물질 water pollution 수질오염 water pollution control 수질오염규제 water pollution indicator 수질오염지표 water pollution source 수질오염원 water power plant 수력발전소 water power site 수력지점 water proof cloth 방수포 water proof concrete 방수 콘크리트 water-proofed agent 방수제 waterproofed cement 방수시멘트 waterproofed paper 방수지 waterproofing work 방수공사 water proof sheet 방수막 water quality 수질 water quality control 수질규제 water quenching 물담금질 water reclamation 물의 재이용 water reducing agent 감수제 water repellent cement 발수성시멘트 water resources engineering 수자원공학 water right 수리권 water seasoning 침수건조 watershed management 유역관리 waterside line 물가선, 수애선 water softener 연수기 water softening 경수연화, 연수화 water source 수원 water source conservation area 상수보호구역 water stage 수위 water stage recorder 자기수위계 water-stop 차수판 water stopping copper 지수구리판 water supply 급수 water supply management 수도사업 water supply source 상수원 water supply system 수도 water supply system for  잡용수도   nondrinking purpose water surface profile 수면곡선 water temperature 수온 water tight concrete 수밀콘크리트 water tightness 수밀성 water tower 배수탑, 저수탑 water transportation 수상교통 water treatment 수처리 water treatment plant 정수장 water turbine 수차 waterway 수로 water way tunnel 수로터널 water year 수문년 water bound macadam 물다짐머캐덤 water cement ratio 물-시멘트비 wave absorber 소파장치 wave absorbing revetment 소파호안 wave action 파랑 작용 wave age 파령 wave amplitude 파 진폭 wave attenuation 파 감쇄 wave basin 조파 수조 wave breaker 감파제 wave breaking 쇄파 wave breaking condition 쇄파 조건 wave breaking point 쇄파점 wave celerity 전파 속도, 파속 wave channel 조파 수로 wave classification 파 분류 wave climate 파후 wave convergence 파 수렴 wave crest 파봉 wave crest line 파봉선 wave crest method 파봉선법 wave-cut bench 파식대 wave-cut cliff 파식 절벽 wave-cut terrace 파식대 wave damping 파 감쇄 wave decay 파 감쇄 wave diffraction 파 회절 wave direction 파향 wave directional spectrum 파향 스펙트럼 wave direction meter 파향계 wave dissipating block 소파블록 wave divergence 파 발산 wave downrush 파 처내림 wave dynamometer 파력계 wave energy 파 에너지 wave energy coefficient 파에너지 계수 wave equation 파 방정식 wave erosion 파식 wave flume 조파 수로 wave force 파력 wave forecasting 파랑 예보 wave front method 파봉선법 wave gage 파고계 wave generation 파 발생 wave generator 조파기 wave group 파군 wave group velocity 군속도 wave height 파고 wave hindcasting 파랑 추정 wave-induced current 파랑류 wave length 파장 wavelet 잔물결 wave maker 조파기 wave mass transport 파 질량수송 wave meter 파랑계 wave motion 파동 wave number 파수 wave observation 파랑 관측 wave observation radar 파랑관측 레이다 wave of translation 이동파 wave overtopping 월파 wave paddle 조파판 wave period 파 주기 wave power generation  파력발전 wave pressure 파압 wave pressure formula 파압 공식 wave pressure gauge 파압계 wave pressure meter 파압계 wave profile 파형 wave propagation 파 전파 wave propagation line 파 전파선 wave ray 파향선 wave record 파 기록 wave recorder 자기 파랑계 wave reflection 파 반사, 파 굴절 wave roller 웨이브롤러 wave runup 파 처오름 wave setup 평균수위 상승 wave spectrum 파랑 스펙트럼 wave speed 전파 속도, 파속 wave speed parameter 파속매개변수 wave staff 파고 측정봉 wave steepness 파형경사 wave superposition 파 중첩 wave tank 조파 수조 wave train 파열 2) wave trough 파곡 wave uprush 파 처오름 wave velocity 파속 wave wall 방파벽 way side signal 지상신호방식 wear 마모 wearing course 닳음층, 마모층 wearing of rail 레일마모 wear of rail 레일마모 wear-resistant topeka 내마찰 토페카 weather ability  내후성 weathered rock 풍화암 weathering 노화(아스팔트의), 풍화, 풍화작용 weathering grade 풍화등급 weather proof 내후성 weather proof steel 내후성강 weather resistance  내후성 weaving 엇갈림, 위빙 web 복부 web buckling strength 웨브 좌굴 강도 Weber number 웨버수 weber splice plate 웨버 이음매판 web frame 복부 프레임 web member 복부재 web plate 복부판, 복부 플레이트 web reinforcement 복부철근 web rib 복부리브 wedge 쐐기 wedge action 쐐기작용 wedge anchorage 쐐기식정착장치 wedge failure 쐐기형 파괴 wedge filler 쐐기형채움재 wedge storage 쐐기형저류 weep drain 배수공 weep hole 배수공, 수발 weight 경중률 weighted equivalent continuous  가중등가평균 감각소음치   perceived noise level weighted mean 가중평균 weighted point 웨이티드 포인트 weighted point lever 추전환기 weighted residual method 가중 잔차법 weighting function 가중 함수 weight mixing 중량배합 weir 웨어 weld 용접 weldability 용접성 weldability test 용접성 시험 weld bead 용접비드 weld defect 용접결함 welded bridge 용접교 welded butt splice 용접맞댄이음 welded crossing 용접크로싱 welded joint 용접이음 welded rail track 용접레일 궤도 welded steel pipe 용접강관 welded steel tubes 용접강관 welded wire febric reinforcement 용접강선망 welder 용접작업자 weld flaw 용접결함 weld gauge 용접게이지 welding 용접 welding cable 용접케이블 welding current 용접전류 welding distortion 용접변형 welding efficiency 용접효율 welding engineer 용접기술자 welding equipment 용접장치 welding flame 용접불꽃 welding flux 용재 welding in vertical position 연직용접 welding joint 용접이음 welding leads 용접케이블 welding method 용접방법 welding operator 용접기, 용접작업자 welding position 용접자세 welding procedure test 용접시공시험 welding process 용접방법 welding robot 용접 로봇 welding rod 용접봉 welding seam 용접솔기 welding sequence 용접순서 welding set 용접장치 welding stress 용접응력 welding symbol 용접기호 welding toe 용접토우 welding torch 용접토치 welding transformer 용접변압기 welding wire 용접와이어 welding with pressure 압접 weld length 용접길이 weld line 용접선 weld metal 용접금속 weld penetration 용입 weld size 용접치수 weld zone 용접부 well 우물, 우물통 well drilling 착정 well foundation 우물통 기초 well function 우물함수 well-mixed estuary 강혼합형 하구 well point method 웰 포인트공법 well resistance 웰저항 well burned brick 상소벽돌 well graded aggregarte 적정입도골재 wet combustion 습식연소법 wet curing 습윤양생 wet masonry 찰쌓기 wet mix process 습식혼합법 wet mix shotcrete 습식뿜어붙임콘크리트 wet oxidation 습식산화법 wet process 습식법 wet rot 습식 wet sand blasting 습사 뿜어내기 wet sand curing 습사양생 wet screening 습식체가름 wet scrubber 습식 제진장치 wetted masonry dam 찰쌓기댐 wetted perimeter 윤변 wet unit weight 습윤단위중량 wharf crane 부두크레인 wheel barrow 손수레 wheel base 축거리 wheel burn 공전홈 wheel crane 휠기중기 wheel excavator 휠 엑스커베이터 wheel load 윤하중, 차륜 하중 wheel tracking test 휠 트랙킹 시험 wheel tractor 바퀴트랙터 wheel tractor shoverl 휠 트랙터셔블 wheel tread 답면 whipping 위핑 whistle post 기적표 white base 화이트 베이스 white cement 백색시멘트 white noise 화이트 노이스 white portland cement 백색포틀랜드시멘트 whiteworth screw thread 와이트워드 나사 whole tine grab 홀타인형그래브 wick drain 윅 드레인 wicket 개집표소 wide area pollution 광역오염 wide area water supply 광역수도 wide flange H-shape steel 와이드 플랜지 H형강 wide flange steel 더블류에프강 width across flats 이면폭 width of ballast shoulder 도상어깨폭 width to thickness ratio of plate 판폭두께비 Williot-Mohr displacement diagram 윌리오-모어의 변위도 Williot’s displacement diagram 윌리오 변위도 wilting point 시들음점 winch 윈치 wind baffle 불투과책 wind bracing 내풍 브레이싱 wind cable 내풍 케이블 wind coverage 풍극 범위 wind drift current 취송류, 풍송류 wind driven current 취송류, 풍송류 wind force 풍력 wind force coefficient 풍력 계수 wind generated wave 풍파 wind load 풍하중 wind pressure 풍압력 wind pressure coefficient 풍압 계수 wind rose 바람장미, 풍배도 wind storm 폭풍우 wind tunnel 풍동 wind tunnel test 풍동실험 wind velocity 풍속 wind wave 풍파 wing rail 윙레일 wing wall 날개벽 wire 와이어 wire brush 와이어 브러쉬 wire clip 와이어 클립 wire cylinder 돌망태, 철선돌망태 wire gauge 와이어 게이지 wire mesh 강선망, 철망 wire mesh concrete plate 철망콘크리트슬래브 wire plumbing 추선법 wire reel 와이어릴 wire rope 와이어 로프 wire rope socket 와이어로프소켓 wire strand 와이어 스트랜드 wire woven mesh sieve 망체 wobble coefficient 파상계수 wobble effect 파상의 영향 wobble friction 파상마찰 wooden block pavement 목괴포장 wooden construction 목구조공사 wooden fence 나무울타리 wooden pile 나무말뚝 wooden sheet pile 나무널말뚝 wooden tie 목침목 wooden tie track 목침목궤도 wood fiber 나무섬유 wood fiber board 목질섬유판 wood structure 목구조 workability 워커빌리티 work hardening 가공경화 working capacity of yard 조차능력 working cycle 작업주기 working drawing 시공도 2) working stress design 허용응력설계법 work mark of railway 선로작업표 work of track repair 궤도보수작업 work process 작업공정 work toletance 제작공차 work train 공사열차 worn out horse type deformation 등 굽힘 wrapping wire 래핑와이어 wrecking crane 트럭기중기 wrench 렌치 wrought iron 연철 xenolith 포획암 X-ray diffraction 엑스선 회절 X-ray inspection 엑스선 검사 X-ray penetrameter 엑스선 투과도계 yard track 구내 yawing 요잉 yellow phosphorus 황린 yield 수율, 항복 yield condition 항복조건 yield control 양보통제 yield criterion 항복 규준, 항복 기준 yield curvature 항복 곡률 yield hinge 항복 힌지 yield line theory 항복선 이론 yield locus 항복 궤적 yield moment 항복 모멘트 yield point 항복점 yield strength 항복 강도 yield stress 항복응력 yield surface 항복면 Young’s modulus 영 계수 Y track 델타선 zenith distance 천정각거리 zeolite 비석, 제올라이트 zero air void curve 영 공기 간극곡선 zero direction 영방향 zero fuel weight 무연료중량 zeta potential 제타전위 zigzag bolt fastening 엇모배치 볼트체결, 지그재그 볼트체결 zincking 아연도금 zincon method 진콘법 zoned earth-fill dam 구역형흙댐 zone-fill dam 구역형댐 zone of aeration 통기대 zone of saturation 포화대 zone rate 지대운임 zoning 조닝, 지구분할 zooplankton 동물플랑크톤, 주우플랑크톤 Z shape steel 제트형강 Z-steel 제트강 φ-index 파이 지표 α-iron 알파철 γ-iron 감마철 δ-iron 델타 철 공감sns신고


英語-日本語電気専門用語辞書(E/総数,1623/30612)

=e ==< オイラーの数、an irrational number, 2.7182818284 5904523536 0287471352 6624977572 4709369995 9574966967 6277240766 3035354759 4571382178 5251664274 2746639193e-ballot box ==< 電子投票箱E-bend ==< E曲がりE branch ==< E分岐e-Business ==< IBMの基幹系システムにインターネット技術を取り込んだ新しいビジネス。キーワード①EC ②セキュリティー ③コラボレーション ④カスタマサービス(インターネットを利用してサービス) ⑤スケーラビリティ(限りある予算の中で拡張性のあるシステム)E coupling ==< E結合E Java Embedded Java ==< E JavaE layer ==< E層E-Learning ==< Eラーニング,遠隔実習e-Learning system ==< eラーニングシステムE mode ==< EモードE-plane lens ==< E面レンズE-plane pattern ==< E面指向特性E-plane radiation pattern ==< E面指向特性E-plane sectoral horn ==< E面扇形ホーンE-region ==< E領域E-scope ==< EスコープE-VECTOR ==< 画面ビルダS/We-voting ==< 電子投票E wave ==< E波EAC, ethics across the curriculum ==< 科目横断授業EAGLE, coal Energy Applications for Gas, Liquid & Electricity ==< 燃料電池用石炭ガス製造技術EAI, enterprise application integration ==< エンタープライズ・アプリケーション・インテグレーションear ==< イーヤ(電鉄)ear piece ==< 受話口earliest finish time ==< 最早終了日程earliest node time ==< 最早結合点日程earliest start time ==< 最早開始日程early effect ==< アーリー効果early failure ==< 初期故障early valve actuation ==< 高速バルブ制御Earnshaw's theorem ==< アーンショーの定理earphone ==< イヤホンearth ==< アース,接地earth bar ==< 接地棒earth cable ==< 接地ケーブルearth capacity ==< 対地容量earth clamp ==< 接地金具earth conductivity ==< 大地導電率earth conductor ==< 地下導体earth connection ==< 接地earth current ==< 地電流earth drill ==< 穴掘機earth exploration satellite ==< 地球探査衛星earth fault ==< 地絡earth fault current ==< 地絡故障電流earth-fault directional relay ==< 地絡方向継電器earth-fault distance relay ==< 地絡距離継電器earth-fault overcurrent relay ==< 地絡過電流継電器earth-fault-phase selector relay ==< 地絡相選別継電器earth-fault protection circuit ==< 地絡保護回路earth-fault protection,〔ground-fault protection(USA)〕 ==< ,Protection intended to operate for power system earth faults.earth-fault protection==ground protection, earth-fault protection==earth-fault … (protection) ==< 地絡保護, Protection against faults between conductors and earth.earth-fault relay==earth-fault …==ground relay ==< 地絡継電器,Protection against faults between conductors and earth.earth-fault ○○ relay ==… ground relay ==< 地絡○○継電器earth ground ==< 接地earth indicating lamp ==< 地絡表示灯earth lamp ==< 地絡表示灯earth leakage breaker ==< 漏電遮断器earth leakage current ==< 接地漏れ電流earth load ==< 土圧earth magnetic field ==< 地磁界earth magnetism ==< 地磁気earth mat ==< アースマットearth plate ==< 接地板earth-plate resistance ==< 接地板抵抗earth potential ==< 地電位,大地電位earth potential difference variation ==< 地電位差変動earth pressure ==< 土圧earth resistance ==< 大地抵抗earth return ==< 地帰路earth return circuit ==< 接地帰路回路earth return component ==< 大地帰路成分earth return inductance ==< 大地帰路インダクタンスearth return method ==< 大地(海水)帰路方式earth return mode ==< 大地帰路モードearth return system ==< 地帰路方式,大地帰路方式earth segment ==< 地球部分earth side wire ==< 接地側電線earth simulator ==< 地球シミュレータearth station ==< 地球局earth surface charge density ==< 地表面電荷密度earth switch ==< 接地開閉器earth terminal ==< 接地端子earth voltage bus ==< 接地電圧母線earth wire ==< 接地線,地線earthed antenna ==< 接地空中線earthed circuit ==< 接地回路earthed neutral system ==< 接地中性点系統earthed system ==< 接地系統earthing ==< 接地earthing by load dispatching instruction ==< 給電用接地earthing conductor ==< 接地線earthing device ==< 接地装置earthing resistance ==< 接地抵抗earthing resistance measurement method ==< 接地抵抗値測定方法earthing resistor ==< 接地抵抗器earthing switch ==< 接地開閉器earthing terminal ==< 接地端子earthquake prediction ==< 地震予知earthquake proofing construction ==< 耐震構造earthquake-related ULF electromagnetic field changes ==< 地震電磁気現象earthquake-resistant design ==< 耐震設計earthquake wave ==< 地震波ease of learning ==< 学習容易性ease of maintenance ==< 保守の容易さease of manageability ==< 管理のやりやすさease of operation ==< 操作の容易さease of testing ==< 易しい試験方法easy direction of magnetization ==< 磁化容易方向ebonite ==< エボナイトEBR, electron beam recording ==< 電子ビーム録画EC, electronic commerce ==< エレクトロニック・コマースECA, Electro Chemical Array ==< DNA二本鎖の間に入り込むインターカレータを使って電気化学的に検出するECC, The Energy Conservation Center ==< 省エネルギーセンターeccentric load ==< 偏心荷重eccentricity ==< ロータ偏芯量eccentricity ratio ==< 偏心率Eccles-Jordan circuit ==< エクルス・ジョルダン回路ECCS, emergency core cooling system ==< 緊急炉心冷却装置ECEPDI, East China Electric Power Design Institute ==< 中国華東電力設計院echo ==< 反響,エコーecho attenuation ==< 反響減衰量echo box ==< エコー箱echo canceller ==< 反響消去装置echo function with weak infeed end ==< 弱電源端打返し機能echo loss ==< 反響損echo machine ==< エコーマシンecho room ==< エコールームecho sounder ==< 音響測深機echo sounding ==< 音響測深echo suppression circuit ==< エコー消去回路(レーダ)echo suppressor ==< 反響阻止装置ECL, emitter coupled logic circuit ==< エミッタ結合論理回路eclipse ==< 食(人工衛星)eclipse factor ==< 日陰率ECM, electrochemical machiening ==< 電気切削ECM, equipment condition monitoring ==< ECMECM, ExtraCellular Matrix ==< 細胞外マトリックスeco-community ==< 循環型社会Eco-Ice, Ice Thermal Storage Air Conditioning Systems ==< エコキュート,自然冷媒(CO2)ヒートポンプ給湯機ecocar ==< エコカーecological optimum ==< 生態的最適ecology ==< エコロジー,環境負荷ECONET ==< エコーネットeconometrics model ==< 計量経済学モデルeconomic evaluation ==< 経済性評価economic growth ==< 経済成長economic load dispatching ==< 経済負荷配分economic load dispatching control ==< 経済運用economic optimization ==< 経済的最適化economical engineering ==< 電力経済工学economical operation ==< 経済運用economizer ==< 節炭器eCos, embedded Configurable operating system ==< eCosecotechnology ==< エコテクノロジーECPE, Engineering Center for Power Electronics ==< EUパワーエレクトロニクス研究センターECS, Emergency Control System ==< 緊急系統制御装置(四国電力)ECS, energy capacitor system ==< 電力貯蔵装置ECS, European communications satellite ==< ECSECT, electronics current transformer ==< ECTECU, Electronic Control Unit ==< コントロールユニットED painting, electro-phoretic ==< 電気泳動塗装EDA, Electronic Design Automation ==< 電子回路設計自動化。EDC, Economic Dispatching Control ==< 経済負荷配分制御,ELDとほぼ同義eddy ==< 渦(うず)eddy current ==< 渦電流eddy current analysis ==< 渦電流解析eddy current brake ==< 渦電流ブレーキeddy current clutch ==< 渦電流クラッチeddy current loss ==< 渦電流損eddy current test ==< 渦流探傷検査eddy effect ==< エッジ効果,縁効果(絶縁破壊)EDF, Electricite de France ==< フランス電力公社edge diffraction ==< エッジ回折edge dislocation ==< 刃状転位edge effect ==< エッジ効果,縁効果(絶縁破壊)edge element ==< 辺要素edge-notched card ==< ノッチカードedge-punched card ==< エッジカードEdison Award, international Edison Award ==< The Edison Award is presented annually to one U.S. and one international electric company selected from members of the Edison Electric Institute (EEI). HONOLULU (June 4, 2003) - In recognition of its creation of the Transient Stability Control System, a pioneering online program to help maintain electric system reliability, the Chubu Electric Power Company today was named the 2003 winner of the international Edison Award, the electric power sector's highest honor. The prestigious prize is given annually by the Edison Electric Institute (EEI) to the U.S. shareholder-owned member and international member making the most outstanding contributions to the advancement of the industry. A committee of national industry trade publication editors and a panel of past and current EEI chairmen select the finalists and ultimate winners. This year's award, the 44th, was given to Chubu Electric Power at EEI's annual convention, "Charting the Future Course," in Honolulu.Edison dynamo ==< エジソンダイナモEdison effect ==< エジソン効果Edison screw lampholder ==< ねじ込みソケット(ランプ)Edison screw socket ==< ねじ込みソケットedit, to ==< 編集するediting ==< 編集editorial affairs ==< 編集業務EDLC, electric double layer capacitor ==< 電気二重層キャパシタEDM, electric discharge machining ==< 放電加工機EDNS, Expected Duration Not Supplied ==< 供給支障時間EDO DRAM, (RAM) Extended Data Out Dynamic RAM ==< 通常のRAMより高速なデータ転送が可能なRAM。Pentiumを使ったパソコンでは、これを使う機種が多い。EDS, ElectroDynamic Suspension ==< 超電導コイルによる電磁誘導支持方式(磁気浮上式鉄道)EDSA ==< メーカーEDSCAN, Electric Discharge SCANning ==< 放電走査法EDT, Eastern Daylight Time ==< 米国東部時間education support system ==< 教育用システムeducational equipment ==< 教育機器educational program ==< 教育プログラムEdwin Armstrong ==< エドウィン・アームストロング,FM放送の発明者EEG, electroencephalography ==< 脳波EEI, Edison Electric Institute ==< エジソン電気事業者協会,Edison Electric Institute (EEI) is the premier trade association for U.S. shareholder-owned electric companies, and serves international affiliates and industry associates worldwide.EELS, electron energy loss spectroscopy ==< 電子エネルギー損失分光法EENS, Expected Energy Not Supplied ==< 供給支障電力量EEPROM, Electrically Erasable Programmable Read Only Memory ==< 電気的消去可能読み出し専用メモリーEES-UETP, Electric Energy Systems - University Enterprise Training Partnership ==< EES-UETP is a consortium of European universities, research institutes and electric companies.EES, electricity energy storage ==< 電力エネルギー貯蔵EEX, European Energy Exchange ==< 欧州エネルギー取引所(ドイツ)EFF, Electronic Frontier Foundation ==< 電子フロンティア財団は電子ネットワークの自由を守る活動をしている。effecter ==< 効果器effective address ==< 有効アドレスeffective admittance ==< 実効アドミタンスeffective antenna noise temperature ==< 実効アンテナ雑音温度effective area ==< 実効面積effective area of picture ==< 有効画面effective attenuation ==< 実効減衰量effective collision cross-section ==< 有効衝突断面積effective constitutive parameters ==< 等価構成定数effective crossing coefficient ==< 有効交差係数effective data transfer rate ==< 有効データ転送速度effective data transmission rate ==< 実効転送速度effective distortion ==< 実効ひずみeffective figure ==< 有効数字effective grounding of neutral ==< 有効接地effective head ==< 有効落差effective height ==< 実効高(アンテナ)effective impedance ==< 実効インピーダンスeffective index ==< 実効屈折率effective inductance ==< 実効インダクタンスeffective instruction ==< 有効命令effective intensity ==< 実効光度(せん光灯)effective ionization coefficient ==< 実効電離係数effective length ==< 実効長,有効長effective length of track ==< 線路有効長effective magnetic field ==< 有効磁界effective margin ==< 実効マージュ(電信)effective mass ==< 有効質量,実効質量effective minimum antenna height ==< 実効最小アンテナ高effective permeability ==< 実効透磁率effective pixels ==< 有効画素数effective power ==< 有効電力effective precipitable water ==< 有効給水量effective radiated power ==< 有効放射電力effective radius of the earth ==< 等価地球半径effective range ==< 有効範囲,有効測定範囲(測定器)effective reactance ==< 実効リアクタンスeffective refractive index ==< 実効屈折率effective resistance ==< 実効抵抗effective selectivity ==< 実効選択度effective self-bias voltage ==< 実効自己バイアス電圧effective steepness ==< 規約しゅん度effective storage capacity ==< 有効貯水容量effective transmission ==< 実効伝送当量effective transmission equivalent ==< 実効伝送当量effective transmission rating ==< 実効伝送量effective use of system components ==< 設備の有効活用effective value ==< 実効値effectively grounded system ==< 有効接地系統,系統のいかなる地点において1線地絡事故が発生しても,健全相の電圧上昇が線間電圧の80%を超えないように中性点を低インピーダンスで接地することをいう。efficiency ==< 効率efficiency by input-output test ==< 実測効率efficiency for light utilization ==< 光利用効率efficiency test ==< 効率試験efficient operation ==< 効率運転effluent standard ==< 排出基準EFNS, Expected Frequency Not Supplied ==< 供給支障頻度EGAT ==< タイ国電力公社egg-shaped diagram ==< 卵形線図EGR, Exhaust Gas Recirculation ==< 排気再循環EHD pumping ==< EHDポンピングEHF, extremely high frequency ==< EHFEHV, Extra-High Voltage ==< 超高圧EI ==< 日本電力調査委員会EIA, Electronic Industries Alliance ==< 米国電子工業会eia, energy information administration ==< 米国・連邦エネルギー省・エネルギー情報局Eidophor ==< アイドホールeigen spot size ==< 固有スポットサイズeigen value ==< 固有値eigen vector ==< 固有ベクトルeigenfunction ==< 固有関数eigentone ==< 固有音eigenvalue analysis ==< 固有値解析eigenvalue method ==< 固有値法eighth power region ==< 八乗域eikonal ==< アイコナールEINA, Electrical Insulation News in Asia ==< EINAEinstein's equation of gravity field ==< アインシュタインの重力場方程式,R super mu nu of x minus one half R of x times g super mu nu of x equals kappa times T super mu nu of x.Einstein's formula ==< アインシュタインの公式,E equals m c squared.Einsteins A coefficient ==< アインシュタインのA係数Einsteins B coefficient ==< アインシュタインのB係数EIRP, equivalent isotropically radiated power ==< 等価等方放射電力EJB, Enterprise Java Beans ==< (トランザクション処理を含む業務ロジックを部品化)ejection ==< 取出しejector ==< エゼクターEL, electroluminescence ==< エレクトロルミネセンス,電界発光;エレクトロ・ルミネッセンス;ELはシート状の電界発光体。ノ社製のELは蛍光物質や誘電体などを積層した基材をPETやPEN(ポリエチレンナフタレート)のフィルムで覆った構造で、厚さは0・2ミリメートル。ハサミやカッターで希望の形状にカットしたあと、ELの裏面に回路基板をプリントし、電源に接続すれば発光する。発光色は白、黄、緑、青がある。elastance ==< エラスタンスelastic collision ==< 弾性衝突elastic constant ==< 弾性定数elastic DLC film ==< 柔軟性DLC膜elastic limit ==< 弾性限度elastic scattering ==< 弾性散乱elastic store ==< エラスティックストアELD, Economic Load Dispatching ==< 経済負荷配分electomagnetic energy ==< 電磁エネルギーelectret ==< エレクトレットelectric actuator ==< 電気式アクチュエータelectric anticorrosion ==< 電気防食electric apparatus ==< 電気装置electric appliance ==< 電気(消費)器具,電気機器Electric Appliance Recycling Law ==< 家電リサイクル法,特定家庭用機器再商品化法electric appliance safety law ==< 電気用品安全法electric arc ==< アークelectric-arc furnace ==< アーク炉electric bell ==< ベル,電鈴electric blanket ==< 電気毛布electric boiler ==< 電気ボイラelectric brake ==< ブレーキelectric braking ==< 電気制動electric brooder ==< 電気育すう器electric cable ==< 電気ケーブルelectric car ==< 電気自動車electric car design ==< 電気自動車設計electric charge ==< 電荷electric charge density ==< 電荷密度electric circuit ==< 電気回路electric circuit theory ==< 電気回路論electric clock ==< 電気時計electric coil ==< 電気コイルelectric conductivity ==< 導電率,電気伝導度,電気伝導性electric conductor ==< 導体electric constant ==< 電気定数electric construction ==< 電気工事electric construction law ==< 電気工事業法electric constructor ==< 電気工事業者electric contact (point) ==< 電気接点(コンタクト)electric control ==< 電気制御electric coupling ==< 電気継手electric crane ==< 電気クレーンelectric curing ==< 電気養生electric current ==< 電流electric current density ==< 電流密度electric desiccant air conditioner ==< 電気式デシカント空調機electric dipole ==< 電気双極子electric dipole moment ==< 電気双極子モーメントelectric discharge ==< 放電electric discharge in soil ==< 土中放電electric-discharge lamp ==< 放電灯electric displacement ==< 電気変位electric double layer ==< 電気二重層electric double layer capacitor ==< 電気二重層キャパシタelectric drill ==< 電気ドリルelectric dynamometer ==< 電気動力計electric energy ==< 電力量electric energy balance ==< 電力量バランスelectric energy density ==< 電力量密度electric engineering ==< 電気工学electric enterprise ==< 電気事業(広義の場合)electric equipment for cooling and heating ==< 冷熱機器electric exploration ==< 電気探査electric facility ==< 電気工作物electric fan ==< 扇風機electric fence ==< 電気さくelectric field ==< 電界electric field strength ==< 電界の強さelectric field vector ==< 電界ベクトルelectric flux ==< 電束electric flux density ==< 電束密度electric foot warmer ==< 足温器electric furnace ==< 電気炉electric fuse ==< ヒューズelectric galvanometer ==< 検流器electric grounding resistance ==< 接地抵抗electric harmonic analyzer ==< 電気的調波分析器electric heat ==< 電気加熱,電熱electric heater ==< 電気加熱器,電気ヒータelectric heating ==< 電気加熱electric heating equipment ==< 電熱機器electric hoist ==< 電気ホイストelectric hot plate ==< 電気こんろelectric hysteresis ==< 電気ヒステリシスelectric hysteresis loop ==< 電気ヒステリシスループelectric image ==< 電気影像electric industry ==< 電気事業(広義の場合)electric injection molding machine ==< 電動射出成形機electric installation ==< 電気設備electric insulating oil ==< 電気絶縁油electric interlocking machine ==< 電気連動機electric lamp ==< 電灯electric lever ==< 電気てこelectric line ==< 電線路electric line of force ==< 電気力線electric loading ==< 電気装荷electric lock ==< 電気鎖錠器electric locking ==< 電気鎖錠electric locomotive ==< 電気機関車electric machine ==< 電気機械,電気機器electric machine and appliance ==< 電気機械器具electric machinery ==< 電気機械,電磁機械electric meter ==< 電気計器electric mode ==< 電気モードelectric moment ==< 電気モーメントelectric motor ==< 電動機electric multiple unit ==< 電車electric operation ==< 電気運転electric oscillation ==< 電気振動electric parameter ==< 電気定数electric polarization ==< 電気分極electric polarization curve ==< 電気分極曲線electric potential ==< 電位electric power ==< 電力electric power apparatus and facilities ==< 電力機器・設備electric power cable ==< 電力ケーブルelectric power cluster oriented network ==< 電力クラスターを指向したネットワーク,ECOネットelectric power demand ==< 電力需要electric power deregulation ==< 電力自由化electric power distribution ==< 配電electric power facility ==< 電力設備electric power flow computer ==< 電力潮流解析装置electric power industry ==< 電気事業(広義の場合)electric power liberalization ==< 電力自由化electric power recovery operation ==< 電源復旧操作electric power router ==< 電力ルーターelectric power security communication equipment ==< 電力保安通信設備electric power system ==< 電力系統electric power transaction ==< 電力取引electric precipitation ==< 電力集塵,電気集塵electric railcar ==< 電車electric railroad ==< 電気鉄道electric railway ==< 電気鉄道electric rate ==< 電気料金率electric rate schedule ==< 電気料金規程electric refrigerator ==< 電気冷蔵庫electric reset ==< 電気復帰electric reset auxiliary relay ==< キープ継電器electric resistance ==< 電気抵抗electric resistance, electromotive force ==< 電気抵抗と起電力electric resistivity ==< 電気抵抗率,比抵抗electric rolling stock ==< 電気車electric room ==< 電気室electric shield ==< 静電遮蔽electric ship propulsion ==< 電気推進(船舶)electric shock ==< 感電electric shock hazard ==< 感電electric shock proof earth leakage breaker ==< 感電防止付漏電遮断器electric signal ==< 電気信号機electric smelting furnace ==< 電気精錬炉electric space heater ==< 電気暖房器electric supply line ==< 給電線electric-supply station ==< 電気所electric susceptibility ==< 電気分極率,電気感受率electric switch machine ==< 電気転轍機electric system ==< 電力系統electric system loss ==< 総合損失電力Electric Technology Research Association ==< 電気協同研究会electric timer ==< 電気タイマelectric traction ==< 電気運転electric transport engineering ==< 電力輸送工学electric utility ==< 電気事業electric vacuum cleaner ==< 電気掃除機electric vector ==< 電気ベクトルelectric vector potential ==< 電気ベクトルポテンシャルelectric vehicle ==< 電気自動車electric washer ==< 電気洗濯機electric water heater ==< 電気温水器electric wave ==< 電波electric welding ==< 電気溶接electric winch ==< 電気ウィンチelectric wire ==< 電線electric wiring ==< 電気配線electric work ==< 電気工事electrical and magnetic measurements ==< 電磁気測定electrical angle ==< 電気角electrical applicance and material law ==< 電気用品取締法electrical bicycle ==< 電気自転車electrical center ==< 電気的中心electrical chief engineer ==< 電気主任技術者electrical conduction ==< 電気伝導electrical conductivity ==< 導電率electrical connection diagram ==< 電気接続図electrical connection diagrams of power system ==< 電気系統図Electrical Contractor Network ==< 米国電力関係の団体electrical degradation ==< 課電劣化electrical deterioration ==< 電気劣化electrical double layer ==< 電気二重層electrical energy ==< 電気エネルギーelectrical engineering ==< 電気工学electrical engineers ==< 電気技術者electrical fault on power transmission line ==< 電力線路における故障electrical household appliance ==< 家電機器electrical indicator ==< 電気的表示器electrical insulation ==< 電気絶縁electrical isolation ==< 電気的分離electrical loss ==< 電気損electrical machinery and apparatus ==< 電気機器electrical machining tool, electrical forming tool, electrical welding tool ==< 電気的加工・成形・接着機器electrical maintenance engineer ==< 電気維持管理技術者electrical measurement of physical quantities ==< 物理量の変換原理electrical measurements ==< 電気測定electrical measuring instrument ==< 電気測定器electrical mode ==< 電気系モードelectrical modification ==< 電気的加工electrical pollution ==< 電気汚染electrical protection ==< 電気的保護electrical radian ==< 電気角electrical relay==electric relay ==< 継電器electrical reset ==< 電気復帰electrical-reset relay ==< 電気復帰リレーelectrical rolling stock traction ==< 電気車駆動electrical rotating machine ==< 回転電機electrical sensitivity, electrical hypersensitivity ==< 電磁波過敏症,高レベルの電磁波を浴びたり,低レベルでも長期間さらされたりすることで一度過敏になると,わずかな電磁波にも反応する状態electrical sheet ==< 電気鉄板electrical shutter technique ==< 電気シャッター法electrical specification ==< 電気設備仕様electrical steel sheet ==< 電磁鋼板electrical thermometer ==< 電気温度計electrical time constant ==< 電気的時定数electrical tree ==< 電気トリーelectrical twin ==< 電気的双晶electrical wire ==< 電線electrical wiring diagram ==< 電気接続図electrical zero ==< 電気的零位electrically despun antenna ==< 電気的デスパンアンテナelectrically-driven ==< 電動electrically neutral ==< 電気的中性のelectrically operation indicator ==< 電気的表示器electrically reset ==< 電気復帰electrically reset relay ==< 電気復帰リレーelectrically reset==electrically reset … ==< 電気復帰electricity ==< 電気electricity derivative ==< 電力デリバテイブelectricity driven heat pump ==< ヒートポンプ給湯器electricity industry ==< 電気事業electricity industry utility ==< 電気事業者electricity market ==< 電力市場electricity market simulators ==< 電力市場シミュレータelectricity marketing ==< 電力市場electricity price ==< 電気料金,電力価格electricity quality ==< 電気品質electricity spot price ==< 電力スポット価格electricity storage ==< 電力貯蔵electricity storage systems ==< 電力貯蔵システムelectricity technology roadmap initiative ==< 電力技術ロードマップelectricity theft ==< 電力万引きelectricity transaction ==< 電力取引electricity utilities industry law ==< 電気事業法electrificated charge ==< 帯電電荷electrification ==< 感電,電化(電鉄)electrification phenomena ==< 帯電現象electro-dynamic suspension ==< 誘導式磁気浮上electro-dynamic type ==< 電流力計形electro-geometric model ==< 電気幾何学的モデル(雷遮蔽)、A-Wモデル(Armstrong, Whitehead)electro hydraulic controller ==< 電気油圧式調速器electro-hydraulic governor ==< 電気油圧式調速機,電気ガバナelectro-hydraulic power supply unit ==< 可変速モータ駆動油圧システムelectro-hydraulic pulse motor ==< 電気-油圧パルスモータelectro-hydraulic system ==< 電気-油圧式electro-magnetic acceleration ==< 電磁加速electro-magnetic induction type ==< 誘導形electro-mechanical energy conversion ==< 電気・機械エネルギー変換electro-negativity ==< 電気陰性度electro-optic crystal ==< 電気光学結晶electro-optic effect ==< 電気光学効果electro-optical effect ==< 電気光学効果electro-osmosis ==< 電気浸透electro-osmotic coefficient ==< 電気浸透係数electroacoustic transducer ==< 電気音響変換器electroacoustics ==< 電気音響学electroanalysis ==< 電気分析electrocapillarity ==< 電池毛管現象electrocatalyst ==< 電極触媒electrochemical constant ==< 電気化学定数electrochemical equivalent ==< 電気化学当量electrochemical migration ==< 電気化学的泳動electrochemical series ==< 電気化学列electrochemical valve ==< 電解弁electrochemistry ==< 電気化学electrochemomechanical deformation ==< 電解伸縮electrocution ==< 電気死刑,感電死electrode ==< 電極,エレク,変圧器の一次側は交流電力線からエネルギーを与え,二次側は整流ダイオードの陽極に接続されている。electrode arrangement ==< 電極形状electrode bonding ==< 電極接合electrode material ==< 電極材料electrode polarization ==< 電極分極electrode potential ==< 電極電位electrode reaction ==< 電極反応electrodeless lamp ==< 無電極ランプelectrodeposition ==< 電着,電析electrodeposition method ==< 電着法electrodialysis ==< 電気透析electrodynamic force ==< 電流力electrodynamic levitation ==< 誘導反発形磁気浮上,磁気浮上electrodynamic torque ==< 同期機の電機トルクelectrodynamics ==< 電気力学electrodynamometer ==< 電流力計electrodynamometer type ==< 電流力計形electroendosmose ==< 電気浸透electroextraction ==< 電解抽出electroforming ==< 電鋳electrogalvanizing ==< 電気亜鉛めっきelectrographite brush ==< 電気黒鉛質ブラシelectrograving ==< 電気食刻electrohydrodynamics ==< 電気流体力学(EHD)electrokinetic phenomenon ==< 動電現象electrokinetic potential ==< 界面動電位electrokinetics ==< 動電学electroluminescence ==< エレクトロルミネッセンスelectroluminescence display ==< ELディスプレイelectroluminescence lamp ==< ELラップelectrolysis ==< 電気分解electrolysis cell ==< 電解そうelectrolyte ==< 電解質electrolyte solution ==< 電解液electrolytic alkali ==< 電解アルカリelectrolytic analysis ==< 電解分析electrolytic capacitor ==< 電解コンデンサelectrolytic cell ==< 電解槽electrolytic copper ==< 電気銅electrolytic corrosion ==< 電食,電蝕electrolytic dissociation ==< 電離(化学)electrolytic extraction ==< 電解抽出electrolytic iron ==< 電解鉄electrolytic lightning arrester ==< 電解形避雷器electrolytic oxidation ==< 電解酸化electrolytic polishing ==< 電解研磨electrolytic reduction ==< 電解還元electrolytic refining ==< 電解精錬electrolytic resistance ==< 電解抵抗electrolytic solution ==< 電解質水溶液electrolytic solution pressure ==< 電溶圧electrolytic solution tension ==< 電溶圧electrolyzer ==< 電解槽electromagnet ==< 電磁石electromagnetic actuator ==< 電磁アクチュエータelectromagnetic brake ==< 電磁ブレーキelectromagnetic clutch ==< 電磁クラッチelectromagnetic compatibility ==< 電磁両立性electromagnetic contactor ==< 電磁接触器electromagnetic control relay ==< 制御用電磁リレーelectromagnetic controller ==< 電磁制御器electromagnetic coupling ==< 電磁結合electromagnetic deflection ==< 電磁偏向electromagnetic discharges ==< 誘導放電electromagnetic distance measurement instrument ==< 電波測距儀electromagnetic effects in machine windings ==< 電気機器の電磁過渡現象electromagnetic emission ==< 電磁波放射,エミッションelectromagnetic energy ==< 電磁エネルギーelectromagnetic equipment ==< 電磁波装置electromagnetic field ==< 電磁界electromagnetic field analysis ==< 電磁界解析electromagnetic field computation ==< 電磁界数値解析electromagnetic flow meter ==< 電磁流量計electromagnetic focusing ==< 電磁集束electromagnetic force ==< 電磁力electromagnetic force wave ==< 電磁力波electromagnetic forming ==< 電磁成形electromagnetic friction clutch ==< 電磁摩擦クラッチelectromagnetic ground detector ==< 電磁検漏器electromagnetic horn ==< 電磁ホーンelectromagnetic induction ==< 電磁誘導electromagnetic induction phenomena ==< 電磁誘導現象electromagnetic interaction ==< 電磁相互作用electromagnetic lens ==< 磁界レンズelectromagnetic levitation ==< 吸引形磁気浮上electromagnetic log ==< 電磁ログelectromagnetic machine and apparatus ==< 電磁機器electromagnetic mechanism ==< 電磁操作機構electromagnetic noise ==< 電磁ノイズelectromagnetic object detection switch ==< 電磁近接スイッチelectromagnetic operation mechanism ==< 電磁駆動electromagnetic oscillograph ==< 電磁オシログラフelectromagnetic potential ==< 電磁ポテンシャルelectromagnetic powder clutch ==< 磁気粉体クラッチelectromagnetic pulse ==< 電磁パルスelectromagnetic pulse bomb ==< 電磁波爆弾electromagnetic pump ==< 電磁ポンプelectromagnetic radiation ==< 電磁放射electromagnetic relay ==< 電磁継電器electromagnetic repulsion ==< 電磁反発electromagnetic repulsion mechanism ==< 電磁反発機構electromagnetic shielding ==< 電磁シールド,電磁遮蔽electromagnetic shielding cable ==< 誘導遮蔽ケーブルelectromagnetic starter ==< 電磁始動器electromagnetic stirring ==< 電磁攪拌(かくはん)electromagnetic suspension ==< 電磁吸引支持,常電導吸引式磁気浮上electromagnetic switch ==< 電磁開閉器electromagnetic theory ==< 電磁界理論electromagnetic thruster ==< 電磁推進船electromagnetic transient analysis ==< 瞬時値解析electromagnetic transient analysis of the induction motor ==< 誘導モータの過渡現象解析electromagnetic transient simulations ==< 瞬時値解析electromagnetic unit ==< 電磁単位electromagnetic vibration ==< 電磁振動electromagnetic wave ==< 電磁波,電波electromagnetic wave absorber ==< 電磁波吸収材料electromagnetics ==< 電磁気学electromagnetism ==< 電磁気学electromechanical ==< 電気機械形electromechanical component ==< 電気機構部品electromechanical effects of oscillations in motors and generators ==< モータ発電機振動に関連する電磁過渡現象electromechanical filter ==< 電気機械フィルタelectromechanical interlocking device ==< 電気機連動装置electromechanical interlocking machine ==< 電気機連動機electromechanical relay ==< エレクロメカニカル継電器,電気機械形継電器electromechanical switching system ==< 電磁機械交換方式electromechanical torque ==< 励磁機の電機トルクelectromechanical transducer ==< 電気機械交換器electromechanical type ==< 電気機械形electrometallurgy ==< 電位冶金electrometer ==< 電位計electrometric titration ==< 電位滴定electromigration ==< エレクトロマイグレーションelectromotive force ==< 起電力electron ==< 電子electron attachment ==< 電子付着electron avalanche ==< 電子雪崩electron beam ==< 電子ビームelectron beam heating ==< 電子ビーム加熱electron collision cross sections ==< 電子衝突断面積electron current ==< 電子流electron cyclotron maser ==< 電子サイクロトロンメーザelectron density ==< 電子密度electron density control ==< 電子密度制御electron density profile ==< 電子密度分布electron device ==< 電子デバイスelectron emission ==< 電子放出electron gas ==< 電子ガスelectron gun ==< 電子銃electron irradiation ==< 電子線照射electron lens ==< 電子レンズelectron microscope ==< 電子顕微鏡electron multiplier ==< 電子増倍管electron optics ==< 電子光学electron oscillation ==< 電子振動electron pair ==< 電子対electron pair bonding ==< 電子対結合electron pair generation ==< 電子対生成electron pole ==< 電子極electron rays ==< 電子線electron spin ==< 電子スピンelectron spin resonance ==< 電子スピン共鳴electron swarm ==< 電子スオームelectron temperature ==< 電子温度electron transit angle ==< 電子走行角electron transit time ==< 電子走行時間electron transmission ==< 電子透過率electron transport coefficient ==< 電子輸送係数electron tube ==< 電子管electronic admittance ==< 電子アドミタンスelectronic ballast ==< 電子回路式安定器electronic book ==< 電子ブック,電子書籍electronic circuit ==< 電子回路electronic commerce ==< 電子商取引electronic contactor ==< 電子コンタクタelectronic control governor ==< 電子制御調速機electronic cooling ==< 電子冷却electronic current ==< 電子電流electronic device ==< 電子素子,電子部品electronic device simulation ==< 電子デバイスシミュレーションelectronic-flash lamp ==< 閃(せん)光ランプelectronic frequency converter ==< 静止周波数変換装置electronic image ==< エレクトロニックイメージelectronic image sensor ==< 電子的撮像感知装置electronic impedance ==< 電子インピーダンスelectronic legacy ==< 電子遺産electronic measuring apparatus ==< 電子測定器electronic navigation ==< 電子航法electronic oscillation ==< 電子振動electronic power converter ==< 静止電力変換装置electronic quantum bit ==< 電子量子ビットelectronic relay ==< 電子リレーelectronic scanning ==< 電子走査electronic sensor ==< 味覚センサelectronic standard ==< 電子品規格electronic starter ==< 電子スタータelectronic state ==< 電子状態electronic switch ==< 電子スイッチelectronic switching ==< 電子切換electronic switching system ==< 電子交換方式electronic transconductance ==< 電子変換コンダクタンスelectronic tube ==< 電子管electronic tuning ==< 電子同調electronic vehicle ==< 電気自動車electronic voltmeter ==< 電子電圧計electronics ==< 電子工学,エレクトロニクスelectronics industry ==< エレクトロニクス産業,電子工業electrooptic deflector ==< 電気光学偏向器electrooptic effect ==< 電気光学効果electrooptic modulator ==< 電気光学変調器electroosmosis ==< 電気浸透electropathy ==< 電気療法electrophonic musical instrument ==< 電気楽器electrophoresis ==< 電気泳動electrophosphorescence ==< 有機りん光発光素子electrophotographic device ==< 電子複写機electrophotography ==< 電子写真electrophysiology ==< 電気生理学electroplated contact ==< めっき接点electroplating ==< 電気めっきelectropneumatic switch machine ==< 電空転てつ機electrorefining ==< 電気精錬electroscope ==< 検電器electroscope induction ==< 静電誘導electroslag furnace ==< エレクトロスラグ炉electrostatic ==< 静電electrostatic capacitor ==< キャパシタelectrostatic capacity ==< 静電容量electrostatic charge ==< 静電荷electrostatic coupling ==< 静電結合electrostatic deflection ==< 静電偏向,電界偏向electrostatic discharge ==< 静電気放電electrostatic earphone ==< コンデンサイヤホンelectrostatic field ==< 静電界electrostatic flocking process ==< 静電植毛electrostatic fluctuation ==< 静電揺動electrostatic focusing ==< 電界集束electrostatic force ==< 静電力electrostatic generator ==< 静電発電機electrostatic ground detector ==< 静電検漏器electrostatic induction ==< 静電誘導electrostatic instrument ==< 静電形計器electrostatic lens ==< 電界レンズelectrostatic loundspeaker ==< コンデンサスピーカelectrostatic machine ==< 静電機器electrostatic microphone ==< コンデンサマイクロホンelectrostatic painting ==< 静電塗装electrostatic plotter ==< 静電作図装置electrostatic potential ==< 静電位electrostatic powder coating ==< 静電粉体塗装electrostatic precipitator ==< 電気集じん装置electrostatic probe ==< 静電プローブelectrostatic relay ==< 静電リレーelectrostatic shielding ==< 静電遮蔽,静電シールドelectrostatic storage ==< 静電記憶装置electrostatic type ==< 静電形electrostatic type meter ==< 静電型計器electrostatic unit ==< 静電単位electrostatic voltmeter ==< 静電電圧計electrostatics ==< 静電学electrostenolysis ==< 細孔電解electrostriction ==< 電気ひずみelectrostrictive relay ==< 誘導体リレーelectrothermal instrument ==< 熱電形計器electrothermal recording head ==< 熱記録ヘッドelectrothermal simulation ==< 電気・熱連成シミュレーションelectrothermic type ==< 熱電形electrothermics ==< 電熱工学electrotyping ==< 電型法electrowinning ==< 電解採取element ==< 元素,素子,要素(集合),エレメント(データ伝送)element analysis ==< 元素分析element assembly ==< 素体(電気機器)element battery ==< 乾電池element of sequential control ==< シーケンス制御要素element sensitivity ==< 素子感度elementary conduction current ==< 素伝導電流elementary frequency bands ==< 基本周波数幅elementary functions ==< 初等関数elementary Hermitian transformation ==< 鏡像変換elementary particle ==< 素粒子eletrical transmission systems ==< 送配電工学elevator ==< エレベータelevator cage ==< エレベータケージelevator equipment ==< 昇降機ELF magnetic field ==< 低周波磁界ELF non-uniform magnetic field ==< 低周波不平等磁界ELF, Extremely Low Frequency ==< 極超長波eliminate ==< 除去する,消去するelimination ==< 除去,消去eliminator ==< エリミネータelinvar ==< エリンバELITE, ELectronic Procurement by Internet Trading Environment ==< インターネット取引環境による電子調達(オムロン)Elkraft ==< メーカーElliot wave ==< エリオット波動ellipse ==< 楕円ellipse of inertia ==< 慣性楕円elliptic function ==< 楕円関数elliptical revolving field ==< だ円回転磁界elliptical waveguide ==< 楕円形導波管elongation ==< 伸び,楕円度ELT, emergency locator transmitter ==< 非常用位置送信機ELT, Enterprise-resource Linking Technology ==< ELTELT, extremely low frequency ==< 周波数帯の名称Elves ==< Emissions of Light and VLF perturbations due to EMP SourcesEM simulation software ==< 電磁界解析ソフトEM wave absorber ==< 電波吸収体EM, early make contact ==< アーリーメーク接点emanation ==< エマネーションEMB, Engineering in Medicine and Biology ==< 医用生体工学embedded conduit tube ==< 埋込配管embedded cost method ==< 埋没費用方式(電力自由化)embedded generation ==< 小型発電embedded magnet type ==< 埋込磁石型embedded system ==< 組込みシステムembedded temperature control system ==< 組み込み温度制御システムembedded temperature detector ==< 埋込温度計embosser ==< エンボッサーembryonic stem cell ==< ES細胞EMC test, electromagnetic compatibility test ==< 電磁適合試験EMC, electromagnetic compatibility ==< 電磁的両立性EMC, Requirements for each Telecommunication Network Equipment ==< 電気通信装置毎のEMC要求emergency ==< 非常emergency backup power ==< 事故時バックアップ,事故時補給電力emergency brake ==< 非常ブレーキemergency control ==< 緊急制御emergency core cooling system ==< 非常用炉心冷却装置emergency generator ==< 非常用発電機emergency interconnection ==< 非常時連系(電力)emergency lighting ==< 非常時用照明emergency operation ==< 緊急操作emergency outage power ==< 事故停止電力emergency power flow control ==< 緊急時潮流制御emergency state ==< 緊急状態emergency stop ==< 非常停止emergency stop equipment ==< 非常停止装置emergency switch ==< 非常スイッチemergency traffic ==< 非常通信emergency vehicle ==< 緊急車両EMF exposure from common appliances ==< 一般家庭用器具による電磁波の人体への影響度emf induced by cutting magnetic flux ==< 導体が磁束を切るために生じる起電力EMI noise reduction ==< EMIノイズ低減EMI, electromagnetic inductive interference ==< 電磁誘導障害EMI, electromagnetic interference ==< 電磁干渉,電磁的障害・妨害EMILAC ==< エミラックemission ==< 発射(電波),放出(電子)emission current ==< 放出電流emission intensity ==< 排出原単位emission of electron ==< 電子放出emission spectroscopy ==< 発光分光診断emission spectrum ==< 発光スペクトルemissions-trading ==< 排出権取引emissive material ==< 電子放出物質emissive power ==< 放射度emissivity ==< 放射率emittance ==< エミッタンスemitter ==< エミッタemitter efficiency ==< エミッタ効率emitter follower ==< エミッタホロワemitter follower logic circuit ==< EFLemitter junction ==< エミッタ接合emitter modulation ==< エミッタ変調emitter with light trap ==< 光トラップ付きエミッタEmpedocles, (c.490-430BC) ==< エムペドクレスemphasis ==< エンファシスemphasis circuit ==< エンファシス回路empirical ==< 経験によるempirical data ==< 実験によって得られるデータempirical orthonormal functions ==< 経験的正規直交系展開empty medium ==< 空き媒体empty set ==< 空集合EMR, electronic microphone rotator ==< EMREMS, ElectroMagnetic Suspention ==< 電磁石による電磁吸引制御方式(磁気浮上式鉄道)EMS, Energy Management System ==< 電力供給制御EMTP, Electro-Magnetic Transients Program ==< 汎用回路解析プログラム,電力系統過渡解析プログラムEMTP96 ==< EMTP96EMU, Energy Management Unit ==< エネルギー管理ユニットemulate, to ==< エミュレートするemulation ==< エミュレーションemulator ==< エミュレータenabling signal ==< 許可信号enamel ==< ほうろう,エナメル(塗料)enameled reflector ==< エナメル反射がさenameled wire ==< エナメル線enantitropic ==< 互変性ENB ==< エンジニアリングナノバイオencapaulstion ==< エンキャプスレーションencapsulated type ==< 密閉型enclosed bus-bars ==< 閉鎖母線enclosed cell ==< 密閉蓄電池enclosed fuse ==< 包装ヒューズenclosed relay ==< 閉鎖形継電器,ケース入り継電器enclosed sensitive switch ==< 封入形マイクロスイッチenclosed slot ==< 全閉スロットenclosed type ==< 閉鎖形enclosure check ==< エンクロージャ検査encode ==< エンコードencode, to ==< 符号化するencoder ==< 符号器,エンコーダencoding ==< 符号化encryption ==< 暗号化end-around borrow ==< 循環借りend-around carry ==< 循環けた上げend-around shift ==< 循環けた送りend cell ==< 端電池end coil ==< 端コイルend connection ==< 端接続end effector ==< エンドエフェクタend-fire array ==< 縦形アンテナ列end-of-file label ==< ファイル後書きラベルend of medium character ==< 媒体終端文字end of shift activities ==< シフト作業の終わりend-of tape marker ==< テープ終端マーカend of text character ==< テキスト終結文字end of transmission block character ==< 伝送ブロック終結文字end of transmission character ==< 伝送終了文字end-of-volume label ==< ボリューム後書きラベルend plate ==< 端板end ring ==< 端絡環end system ==< エンドシステムend-to-end signaling ==< エンドツーエンド信号方式end winding ==< コイル端endless solenoid ==< 端なしソレノイドendoscope ==< 内視鏡endurance ==< 耐久性endurance test ==< 耐久試験ENEL, Ente Nazionale per I'Energia Elettrica ==< イタリア電力公社energize ==< 励磁energize, to ==< 生かすenergy ==< エネルギー, エナジーenergy approach ==< エネルギー法,電力系統安定度判定手法energy band ==< エネルギー帯energy bill ==< 電力料金energy calculation ==< エネルギー計算energy charge ==< 電力量料金energy conservation ==< 省エネルギー,省エネenergy conservation law ==< エネルギー保存則energy consumption ==< エネルギー消費量energy consumption for auxiliary load ==< 所内電力量energy conversion ==< エネルギー変換energy conversion efficiency ==< エネルギー変換効率energy conversion factor of discharge ==< 電水比energy curve ==< エネルギー曲線energy demand ==< エネルギー需要energy demand of household ==< 家庭用エネルギー需要energy dispersal ==< エネルギー拡散energy dispersion ==< エネルギー拡散energy dissipation device ==< エネルギー吸収装置energy driver ==< エネルギードライバenergy efficiency ==< エネルギー効率energy-efficient ==< 省エネルギーのenergy electronics ==< エネルギーエレクトロニクスenergy exchange ==< エネルギー授受energy flow ==< エネルギーフローenergy function method ==< エネルギー関数法energy gap ==< エネルギーギャップ,禁制帯幅energy imbalance ==< 電力量偏差調整energy interchange ==< エネルギー融通energy level ==< エネルギー準位energy loss ==< エネルギー損失,エネルギー損energy market ==< エネルギー市場energy network ==< エネルギー流energy of a magnetic field ==< 磁界のエネルギーenergy of electromagnetic field ==< 電磁界のエネルギーenergy of electrostatic field ==< 静電界のエネルギーenergy price ==< エネルギー料金energy ratio ==< エネルギー収支比energy saving ==< 省エネルギー,省エネenergy security ==< エネルギー安定供給energy spectrum ==< エネルギースペクトラムenergy storage device ==< エネルギー蓄積要素energy storage system ==< エネルギー貯蔵装置,電力貯蔵装置(ESS)energy stored in electric field ==< 電界のエネルギーenergy stored in magnetic field ==< 磁界のエネルギーenergy supply center ==< エネルギー供給施設energy supply system ==< エネルギー供給システムenergy systems analysis ==< エネルギーシステム分析energy theft ==< エネルギー万引きenergy-thrifty vending machine ==< エネルギー節約形の自動販売機energy transport infrastructure ==< エネルギー輸送インフラenergy value ==< 電力量価値energy volume density ==< エネルギー体積密度energy web ==< エナジーウェブengaged test ==< 話中試験Engel's coefficient ==< エンゲル係数engine generator ==< エンジン発電機engine shed ==< 機関車庫engineer in charge ==< 担当技術者engineering education ==< 技術者教育engineering ethics ==< 技術者倫理,工学倫理engineering model ==< エンジニアリングモデルengineering note ==< 技術ノートenhancement ==< エンハンスメントenquiry character ==< 問合せ文字enriched uranium ==< 濃縮ウランensemble ==< アンサンブル,無数に多くの回路について記録した波形全体の集合ensemble average ==< 母集団平均,アンサンブル平均entering signal ==< 場内信号機entertainment expense ==< 交際費enthalpy ==< エンタルピーentrained bed integrated coal gasification combined cycle power generation ==< 噴流床石炭ガス化複合サイクル発電技術entrainment ==< エントレインメント,(飛沫)同伴entrainment filter ==< 飛沫同伴防止用フィルタentrance cable ==< 引込ケーブルentropy ==< エントロピーentropy change ==< エントロピー変化entry conditions ==< 入口条件entry of a procedure ==< 手続の入口entry point ==< 入口点enumeration method ==< 列挙法envelop ==< 包絡線envelope constant ==< 包絡定数envelope delay time ==< 包絡線遅延時間envelope detection ==< 包絡線検波envelope detector ==< 包絡線検波器environment ==< 環境,周囲environment description ==< 環境記述environment-oriented state ==< 環境立国environment tax ==< 環境税environmental accounting ==< 環境会計environmental conditions ==< 環境条件environmental conservation ==< 環境保全environmental considerations ==< 環境への取り組みenvironmental contamination ==< 環境汚染(原子力)environmental criteria ==< 環境基準environmental impact ==< 環境負荷environmental information ==< 環境情報environmental issues ==< 環境関連environmental load ==< 環境負荷environmental loss time ==< 外因損失時間environmental test ==< 環境試験environmentally-benign arc quenching medium ==< 環境低負荷消弧媒体enzyme electrode ==< 酵素電極EOL-weight, end of weight ==< 軌道上寿命末期重量EOP, End Of Pipe ==< 出口側EOS, earth observatory satellite ==< 地球観測衛星eosinY ==< エオシンYEPA, Enhanced Performance Architecture ==< EPAEPA, Environmental Protection Agency ==< 米国環境保護局EPAct, Energy Policy Act ==< 米国国家エネルギー政策法EPC, Emergency Power Control ==< 緊急潮流制御EPC, Emergency Power Controller ==< 緊急発電指令装置(中部)EPC, Engineering Procurement Construction ==< EPCコントラクターEPG, Electric Program Guide ==< 電子番組ガイドepic struggle ==< 勇壮な闘い, The annals of technology are filled with stories about inventors whose epic struggles over their inventions drive them over the edge.epicadmium ==< エピカドミウムepicycle ==< 周転円epicyclic gear ==< 遊星歯車装置epicyclic train ==< 遊星歯車装置epicycloid ==< 外転サイクロイドepidemiological investigation ==< 疫学的調査epilation ==< 脱毛(原子力)EPIRB, Emergency Position Indicating Radio Beacon ==< イパーブ, 遭難信号自動発信装置epitaxial growth ==< エピタキシアル成長epitaxial junction ==< エピタキシアル接合epitaxial planar technique ==< エピタキシアルプレーナ技術epitaxy ==< エピタキシーepithermal neutron ==< 中速中性子epoxy ==< エポキシepoxy resin ==< エポキシ樹脂EPPD, Emergency Power Preset Switch ==< 緊急電力設定スイッチEPPS, Emergency Power Preset Switch ==< 緊急応援制御方式EPR, extended producer responsibility ==< 拡大生産者責任EPRI, Electric Power Research Institute ==< 電力研究所EPRI, Electric Power Research Institute, P.R.China ==< 中国電力科学研究院EPS, electric pipe shaft ==< 電気配線シャフトEPS, Electric Power Steering ==< 電動パワステアリングepsilon ==< ε,エプシロンEQ, Emotional Quotient ==< 情緒指数equal area criteria ==< 等面積法equal area criterion ==< 等面積法,等面積則equal area method ==< 等面積法equal delay angle control ==< 各相制御equal energy white ==< 等エネルギー白色光equal incremental cost loading method ==< 等増分燃料費法equal loudness contour ==< 音の大きさの等感曲線equal-mileage rate ==< 均一料金equal pitch contour ==< 音の高さの等感曲線equal pressure method ==< 等圧法(ガス圧点検法)equalization ==< 等化equalizer ==< 等化器,均圧結線,均圧母線equalizing amplifier ==< 等化増幅器equalizing bus-bar ==< 均圧母線equalizing pulse ==< 等化パルスequation for the different generation quark mixture in Kobayashi and Maskawa's theory ==< 小林-益川理論のクォーク世代混合式equation of circle ==< 円の方程式equation of continuity ==< 連続の方程式equation of ellipse ==< 楕円の方程式equation of motion ==< 運動方程式equation of motion of a charged particle in the electromagnetic field ==< 電磁場中の荷電粒子の運動方程式equation of renormalizatin group ==< くりこみ群の方程式equation of states ==< 状態方程式equatorial oribit ==< 赤道軌道equi-energy spectrum ==< 等エネルギー白色光equi-field-strength curve ==< 等電界強度曲線equi-incremental fuel cost method ==< 等増分燃料費則equi-potential bonding ==< 等電位ボンディングequiangular spiral ==< 等角らせんequidistance firing control ==< パルス間隔一定制御equidistant firing control ==< パルス間隔一定制御equilateral triangle ==< 正3角形equilibrium composition ==< 粒子組成equilibrium electrode potential ==< 平衡電極電位equilibrium point ==< 平衡点equilibrium solution ==< 均衡解equiphase zone ==< 等位相帯equipment ==< 装置,設備equipment applied electric motive power ==< 電動力応用機器equipment cost ==< 設備経費equipment design ==< 設備設計equipment for high voltage generation ==< 高電圧発生装置equipment protective relay ==< 機器保護リレーequipment standard ==< 設備標準equipotential ==< 等電位,等ポテンシャルequipotential line ==< 等電位線equipotential surface ==< 等電位面equiry draft ==< 照会原案equisignal sector ==< 等感度帯equivalence operation ==< 等価演算equivalence theorem ==< 等価定理equivalent admittance ==< 等価アドミタンスequivalent articulation loss ==< 明りょう度等価減衰量equivalent block diagram ==< 等価ブロック線図equivalent capacity ==< (変圧器)等価容量equivalent circuit ==< 等価回路equivalent circuit model ==< 等価回路モデルequivalent circuit of three-phase induction motor ==< 三相誘導電動機の等価回路equivalent conductivity ==< 当量導電率equivalent control signal ==< 仮想的制御入力equivalent electric circuit ==< 等価電気回路equivalent equations ==< 同値な方程式equivalent evaporation ==< 相当蒸発量equivalent frequency operation circuit ==< 等頻度操作回路equivalent impedance ==< 等価インピーダンスequivalent load method ==< 等価負荷法equivalent luminance ==< 等価輝度equivalent mass ==< 等価質量equivalent network ==< 等価回路網equivalent noise bandwidth ==< 等価雑音帯域幅equivalent noise resistance ==< 等価雑音抵抗equivalent noise temperature ==< 等価雑音温度equivalent path ==< 等価路程equivalent permittivity ==< 等価誘電率equivalent reactance ==< 等価リアクタンスequivalent reflectance ==< 等価反射率equivalent refractive index ==< 等価屈折率equivalent resistance ==< 等価抵抗equivalent short circuit reactance ==< 等価短絡リアクタンスequivalent sine wave ==< 等価正弦波equivalent stiffness ==< 等価スチフネスequivalent T circuit ==< 等価T回路equivalent test ==< 等価試験equivalent transfer function method ==< 等価伝達関数法equivalent veiling luminance ==< 等価光幕輝度equivalent π circuit ==< 等価π回路equivocation ==< あいまい量equivocation and dissemination ==< あいまい度と散布度ER, emotion recognition ==< 感情認識erasable storage ==< 消去可能記憶装置erase, to ==< 消去するerasing shields ==< 消し板ERCOT, Electric Reliability Council of Texas ==< テキサス電気信頼性評議会erection ==< 据付けerg ==< エルグergodic noise, a random noise with identical time and statistical mean values. ==< エルゴード雑音, 時間平均及び統計平均の値が等しいランダム雑音.ergodicity ==< エルゴード性ergonomics ==< エルゴノミクス,人間工学Ericksen cupping test ==< エリクセン試験Ericksen value ==< エリクセン値Erlang's formula ==< アーランの式erlangs(erl) ==< アーランERM, Electromagnetic compatibility and Radio spectrum Matters ==< ERMerosion ==< 浸食,減肉,エロージョンERP, Enterprize Resource Planning ==< 統合業務。財務会計や人事管理、生産管理、在庫管理など企業の基幹業務をサポートするシステム。統合業務ソフトウェアerroneous overreaching ==< (誤)オーバリーチ ,"The operating condition of a protection, generally distance protection, where its reach, due to measuring errors, corresponds to a reach longer than its zone setting. "erroneous underreaching ==< (誤)アンダリーチ ,"The operating condition of a protection, generally distance protection, where its reach, due to measurement errors, corresponds to a reach shorter than its zone setting."error ==< 誤差,制御偏差error circle ==< 誤差円error code ==< エラーコードerror control ==< 誤り制御error control system ==< 誤り制御方式error-correcting code ==< 誤り訂正符号error correcting system ==< 誤り訂正方式error correction ==< 誤り訂正error correction code ==< ECCerror criterion ==< 誤差評価関数error curve ==< 誤差曲線error detecting code ==< 誤り検出符号error-detecting code ==< 誤り検出符号error-detecting system ==< 誤り検出方式error detection ==< 誤り検出error detection system ==< 誤り検定方式error range ==< 誤差範囲error span ==< 誤差幅error==… error ==< 誤差ERUs, Emission Reduction Units ==< 排出削減単位erythema ==< 紅はん(紫外線による)ES, Engineering Sheet ==< エンジニアリングシート(技術検討書)ES, Evolution Strategy ==< ESESA, European Space Agency ==< 欧州宇宙機関Esaki diode ==< エサキダイオードEsaki effect ==< エサキ効果ESBWR, General Electric's simplified boiling water reactor ==< 革新型単純化沸騰水型炉、140万キロワットescalator ==< エスカレータescape character ==< 拡張文字escape crank ==< エスケープクランクescape lighting ==< 避難照明ESCJ, Electric Power System Council of Japan ==< (有限責任中間法人)電力系統利用協議会ESCO, Energy Service Company ==< 省エネルギー提案型サービス事業,エネルギー・サービス・カンパニー,エネルギーサービス会社,事業者が省エネに関する包括的なサービス提供。顧客の省エネメリットの一部を報酬として受ける。escribed circle ==< 傍接円ESD, electrostatic discharge ==< 静電気放電ESE, Early Streamer Emission ==< 放射性同位元素や電子回路の搭載で結合リーダを早期に生成し避雷針の保護範囲を拡大するESKOM ==< 南アフリカの国営電力会社ESP, electrostatic precipitator ==< 電気集塵装置ESP, Energy Service Provider ==< エネルギーサービス提供者、エネルギー・サービス・プロバイダーEspritline ==< エスプリラインESR spectroscopy ==< ESR分光essential facility ==< エッセンシャル・ファシリティ,不可欠施設essential singular point ==< 真性特異点(複素関数)ESTELLE ==< Extended State-Transition Languageestimate ==< 見積もるestimated cost ==< 見積価格estimated end pressure control ==< 推定末端圧力制御estimated load curve ==< 想定されたロードカーブestimation ==< 推定値,見積もり,評価estimation of dielectric location ==< 誘電体位置推定estimation of magnetic field strength waveforms ==< 磁界強度波形推定ET, Energy Technology ==< ETETA, event tree analysis ==< ETAETAP ==< A power system analysis software.ETC, Electronics Toll Collection system ==< 自動料金支払いシステムetch ==< 腐食するetch pit ==< エッチピットetched surface ==< エッチング表面etching ==< エッチングether ==< エーテルEthernet ==< イーサネット,1976年にゼロックス社が開発したネットワーク方式(現在はIEEEによりIEEE802.3として規格化されている)。PCやWSなどで使われるネットワーク方式としては,現在もっとも広く普及している。通信速度は10Mbit/秒。接続ケーブルには,10Base-T,10Base-2,10Base-5がある。ethylene addition ==< エチレン添加ethylene-propylene rubber ==< エチレンープロピレンゴムETK, Embedded ToolKit ==< ETKETMSP, Extended Transient-Midterm Stability Program ==< 米国EPRIにより開発したプログラムETS, Educatinal Testing Service ==< メーカー名ETS, engineering test satellite ==< ETSEUC, End User Computing ==< コンピュータシステムによる情報の処理・加工を、システムを直接操作する人にゆだねるコンピュータの利用形態。Euclid, (c.300BC) ==< ユークリッドEuclidian norm ==< ユークリッドノルムEUD, End User Development ==< エンドユーザが自分自身でシステムの処理方法、操作方法などを開発するコンピュータの利用形態。EUCと同意で使われる。Euler-Lagrange equation ==< オイラー-ラグランジュ方程式Euler-Lagrange's differential equation ==< オイラー-ラグランジュの微分方程式Euler's formula ==< オイラーの公式, e to the i theta equals cosine theta plus i sine theta.Euler's method ==< オイラー法Euler's motion equation ==< オイラーの運動方式EuP, energy using product ==< エコデザイン指令,エネルギー使用製品の環境配慮設計,適応性評価euphemism ==< ユーフェミズム = 婉曲・高級表現eureka ==< ユーレッカeurope ==< 欧州連合europium ==< ユーロピウム(元素,Eu)EUROSTAG ==< EUROSTAG is a software dedicated to the dynamic simulation of large electric power systems in the field of transient and long term stabilityeutectic ==< 共晶,共融eutectic mixture ==< 共晶混合物eutectic point ==< 共融点eutectic solder ==< 共晶はんだEV, electric vehicle ==< 電気自動車EVA, Early Valve Actuation ==< 高速タービンバルブ制御EVA, economic value added ==< 経済的付加価値EVA, ethylene-vinyl acetate copolymer film ==< エチレン酢酸ビニル共重合体フィルムevacuate ==< 排気するevacuated ==< 排気したevacuated insulation ==< 真空断熱evacuation ==< 排気evaluation ==< 評価evaluation content ==< 審査内容evaluation model ==< 評価モデルevaluation of functions ==< 関数値計算法evanescent-wave ==< エバネッセント波Evans ==< エバンスevaporable ==< 蒸発できるevaporabte ==< 蒸発するevaporation ==< 蒸発,蒸発量evaporative ==< 蒸発のevaporative capacity ==< 蒸発容量(ボイラ)evaporative power ==< 蒸発力(ボイラ)evaporative radiation system ==< 蒸発冷却形evaporator ==< 蒸発器even ==< 偶数のeven-even nucleus ==< 偶偶核even fucntion ==< 偶関数even harmonics ==< 偶数調波even number ==< 偶数even-odd nucleus ==< 偶奇核even parity ==< 偶数パリティeven parity check ==< 偶数パリティチェックevent ==< イベント,事件event chain ==< 事象連鎖event control block ==< 事象制御ブロックevent counter ==< 信号計数器event counting ==< イベント計数event data ==< 事象データevent list ==< イベントリストevent of default ==< 契約不履行event of low probability ==< 低い確率事件event of moderate probability ==< 中程度確率事件event per unit time ==< 事象/単位時間event series ==< 事象系列(スパイラルベクトル理論)event synchronization ==< 事象同期event theory ==< 事象理論event tracer ==< 事象追跡プログラムevent tree ==< イベントツリーevent tree analysis ==< イベントツリー解析event trigger ==< イベントトリガーevent trigger menu ==< イベントトリガーメニューevent trigger summary ==< イベントトリガー概要eventdriven ==< イベント駆動events pending ==< 未解決事件eventual ==< 将来起るべきevidence ==< 明白evident ==< 明白なevidently ==< 明白にEVN, Electricity of Vietnam ==< ベトナム電力公社evolute ==< 縮閉線evolution ==< 発出(熱,光などの)evolution equation ==< 発展方程式evolutionary simulator ==< 進化型シミュレータevolutivity ==< 発展性evolving-fault break ==< 進展故障遮断EVT, earthing voltage transformer ==< 接地形計器用変圧器EVT, electronics voltage transformer ==< EVTEWD, elementary wiring diagram ==< 展開接続図EWG, Exempt Wholesale Genarator ==< 適用除外発電事業者(米国)EWS, Engineering Work Station ==< エンジニアリングワークステーションexact circle ==<