What Is Old Economy? Old economy is a term used to describe the blue-chip sector that enjoyed substantial growth during the early parts of the last century as industrialization expanded around the world. These sectors do not rely heavily on technology or technological advancement, but use processes that have been around for hundreds of years. Even with
Oligopsony: An Overview An oligopsony is a market for a product or service which is dominated by a few large buyers. The concentration of demand in just a few parties gives each substantial power over the sellers and can effectively keep prices down. The opposite effect can be seen in an oligopoly. It is a
Oliver Williamson (1932 to 2020) was a U.S. economist, Nobel Prize laureate, and academic, best known as one of the leaders of New Institutional Economics (NIE) and the founder of Transaction Cost Economics (TCE), novel economic frameworks that moved traditional theory beyond an exclusive focus on markets and price theory—and permanently changed how economists, governments
What Is an Ombudsman? An ombudsman is an official, usually appointed by the government, who investigates complaints (usually lodged by private citizens) against businesses, financial institutions, universities, government departments, or other public entities, and attempts to resolve the conflicts or concerns raised, either by mediation or by making recommendations. Ombudsmen may be called by different
What Is an Order Management System (OMS)? An order management system (OMS) is an electronic system developed to execute securities orders in an efficient and cost-effective manner. Brokers and dealers use an OMS when filling orders for various types of securities and can track the progress of each order throughout the system. An OMS in
What is On-The-Run Treasury Yield Curve? The on-the-run Treasury yield curve graphically shows the current yields versus maturities of the most recently sold U.S. Treasury securities and is the primary benchmark used in pricing fixed-income securities. Key Takeaways The on-the-run Treasury yield curve graphically shows the current yields versus maturities of the most recently sold
What Is On Account? “On account” is an accounting term that denotes partial payment of an amount owed. On account is also used to denote the purchase/sale of goods or services on credit. On account can also be referred to as “on credit.” Key Takeaways “On account” is used in accounting to note partial payments
What Is On-Balance Volume (OBV)? On-balance volume (OBV) is a technical trading momentum indicator that uses volume flow to predict changes in stock price. Joseph Granville first developed the OBV metric in the 1963 book Granville’s New Key to Stock Market Profits. Granville believed that volume was the key force behind markets and designed OBV
What Is a Bank Holding Company? A bank holding company is a corporation that owns a controlling interest in one or more banks but does not itself offer banking services. Holding companies do not run the day-to-day operations of the banks they own. However, they exercise control over management and company policies. They can hire
What Is Odious Debt? Odious debt, also known as illegitimate debt, is when a country’s government changes and the successor government does not want to pay debts incurred by the previous government. Usually, successor governments argue that the previous government misappropriated money it had borrowed and that they should not be held responsible for the
