What is a Voluntary Export Restraint (VER)? A voluntary export restraint (VER) is a self-imposed trade restriction where the government of a country limits the amount of a certain good or category of goods that are allowed to be exported to a different country. The restraint could be a preset limit, a reduction in the…
What is a Sampling Distribution? A sampling distribution refers to a probability distribution of a statistic that comes from choosing random samples of a given population. Also known as a finite-sample distribution, it represents the distribution of frequencies on how spread apart various outcomes will be for a specific population. The sampling distribution depends on…
What is a European Option? A European option is a type of options contract where the buyer or seller is able to execute the option only at its expiration date. Although it includes “European” in its name, the option is not related to any geographic location. Instead, different kinds of options contracts mean that there…
What is a Safe Haven? A safe haven is a term that refers to an investment that is anticipated to maintain or increase in value during times of economic downturn. Such investments are believed to be a safe option for investors, as they are not correlated to the economy – meaning that a financial crisis…
What is the Korean Composite Stock Price Index (KOSPI)? The Korean Composite Stock Price Index (KOSPI) is a group of indexes that track the stock exchange in South Korea. It was previously named the Korea Stock Exchange. Just as the NASDAQ Composite Index and the S&P 500 Index are representative stock market indexes in the…
Who are Discouraged Workers? Discouraged workers are a group of individuals in an economy who have been actively looking for work but have given up due to feeling discouraged from consistent unemployment and failed efforts of looking for work opportunities. Also referred to as marginally attached to the labor force, discouraged workers are excluded when…
What is an Endogenous Variable? An endogenous variable is a variable that depends on other variables in a statistical and/or economic model. If the value changes for an endogenous variable, it is because there are changes to its relationships with other variables in the same model. Therefore, it is similar to a dependent variable because…
What is End-to-End? End-to-end solutions refer to the process where a system or service is carried out from beginning to end without assistance from a third-party. A solutions provider strives to deliver a fully functional system, service, or project from start to finish. For example, there will only be one vendor supplying a system’s software…
