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search unemployment (J6)<br />FRICTIONAL UNEMPLOYMENT; being without a job during a period of looking for another one. Many workers will endure lower incomes during periods of unemployment in the hope of increasing lifetime earnings. See also: unemployment spell <br /><em>Reference</em><br />Fitzgerald, T.J. (1998) 'An introduction to the search theory of unemployment', Federal Reserve Bank of Cleveland Economic Review, 34: 2-15.
Nash equilibrium (C7)<br />In a game with two players an equilibrium occurs when each strategy of a pair is the best response to the other. Each player uses the highest possible pay-off, given the other player's strategy. This was invented in 1950.
commercial bank (G2)<br />A bank providing a wide range of banking services, including receiving deposits from the public and the making of loans. As a consequence of more competition in the financial sector, these banks have diversified into insurance, mortgage finance and a wide range of business finance, previously the concern of investment/merchant banks alone.<br /> See also: clearing bank; retail bank; wholesale bank <br /><em>Reference</em><br />Ballarin, E. (1987) Commercial Banks amid the Financial Revolution: Developing a Competitive Strategy, London: Harper & Row; Cambridge, MA: Ballinger.
<strong>Nelnet</strong> – A for-profit FFEL Program secondary market and servicer that originates, disburses, services, and purchases FFEL Program loans.
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