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output gap (E1)<br />The difference between the actual level of output of an economy and its potential or capacity output level, usually based on econometric modelling. A positive output gap reflects labour and other shortages threatening inflation; a negative gap restrains inflation.<br /><em>See also:</em> inflationary gap
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ex post variables (EO)<br />Variables which show actual econom1c outcomes, e.g. the amount of fixed investment which has been undertaken. In the 1930s there was much discussion in macroeconomics of how ex ante savings and investment that were different in amount became equal ex post. One possibility was for there to be saving at each round of income generated from an ex ante investment excess over ex ante saving.<br /><em>See also:</em> ex ante variables
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internal debt (H6)<br />The debt a government owes to the firms and households of the country it rules. This is the result of a government spending more than it taxes.<br /><em>See also:</em> external debt
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