What will I find in this section?
Technical terms, unfortunately, cannot always be avoided – particularly when it comes to complex topics such as monetary policy. This is why we have compiled a glossary with a wide range of terms, arranged in alphabetical order and each with a short explanation.
- ABCP (Asset-backed commercial paper)
- ABS (Asset-backed security)
- ABSPP (Asset-Backed Securities Purchase Programme)
- Act to Modernise Accounting Law (BilMoG)
- Annuity loan
- APP (Asset purchase programme)
- Asset-backed commercial paper (ABCP)
- Asset-Backed Securities Purchase Programme (ABSPP)
- Asset-backed security (ABS)
- Asset purchase programme (APP)
- Autonomous factors
Automatic stabilisers are countercyclical revenue and expenditure items by general government that serve to dampen or stimulate the economy. Their impact is "automatic" because they do not need to be triggered by parliamentary or government decisions. One example is unemployment insurance: payouts increase in a recession because there are more people out of work. This tends to boost macroeconomic demand, counteracting the recession and stabilising the economy.