Archives: Terms

Definition of Juglar Cycle The Juglar Cycle, named after the French economist Clément Juglar who identified it, is a concept in economics that describes a pattern of economic expansion and contraction lasting approximately 7 to 11 years. This cycle reflects fluctuations in economic activity, particularly in investment and business sectors, […]

Definition of the Jones Model The Jones model is a conceptual framework used in the field of economics to explain how technological advancements can lead to economic growth through innovation and capital accumulation. Named after Charles I. Jones, an influential economist, the model emphasizes the importance of ideas and innovations […]

Definition of Joint Product Pricing Joint product pricing involves setting prices for products that are produced together in a single production process but can be sold separately. This strategy addresses how to allocate costs and set prices for each product to maximize profitability. Joint products are common in industries where […]

Definition of Job Hunting Job hunting, also known as job searching, is the process by which individuals seek to find new employment, be it out of necessity or desire for change. This process involves various strategies, including network building, resume submission, attending job fairs, utilizing online job boards, and leveraging […]

Definition of the Job Demands-Resources Model The Job Demands-Resources (JD-R) model is a conceptual framework that aims to understand the psychological process affecting employee well-being within the workplace. It identifies specific job demands and resources that play a critical role in leading to either job strain or enhanced work motivation. […]

Definition of Jevons Paradox Jevons Paradox occurs when technological progress or policy measures increase the efficiency with which a resource is used (reducing the amount needed for any one use), but the rate of consumption of that resource rises due to increasing demand. This counterintuitive phenomenon is named after the […]

Introduction to JEL Classification Codes The Journal of Economic Literature (JEL) classification codes are a standardized system used by economists and scholars to categorize their works according to specific economic subjects. This system facilitates the organization, retrieval, and analysis of economic literature, contributing to a structured and efficient way of […]

Definition of Jaimovich–Rebelo preferences Jaimovich–Rebelo preferences represent a set of preferences in economic modeling that deviate from traditional utility functions by introducing non-separable preferences in consumption and leisure. This theoretical construct allows for a more nuanced analysis of the effects of technological progress and policy changes on labor supply, consumption, […]

Definition of Isoquant An isoquant is a concept from economics, specifically the field of production theory, which represents all the different combinations of factors of production that result in the production of a certain level of output. The term “isoquant” is derived from the words “iso,” meaning equal, and “quant,” […]

Definition of IS/MP Model The IS/MP model represents an analytical framework in economics that combines the IS (Investment-Saving) curve with the MP (Monetary Policy) curve to analyze and predict the effects of fiscal and monetary policy on the economy’s equilibrium output and interest rates. The IS curve illustrates the relationship […]