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Finance P
P/E ratio
Paasche index
Package of policies
Paid-up policies
Panchayati Raj
Panel data
Paper money
Par rate of exchange
Par value
Paradox of thrift
'Paradox of value' - see Marginal utility
Paradox of voting
Parallel money markets
Pareto efficiency
Pareto efficient
Pareto law
Pareto, Vilfredo Federico Damaso (1848-1923)
Pareto-optimal - see Economic efficiency
Pari passu
Paris Club - see Group of Ten
Parkinson’s Law
Part payment
Partial adjustment
Partial correlation
Partial equilibrium
Partial equilibrium analysis
Partial loss
Participation rate
Particular average loss
Passing a name
Path dependence
Pay As You Earn (P.A.Y.E.) - UK
Pay-as-you-go pension
Pay-off matrix
Pay pause
Payable to bearer
Payable to order
Paying-in book
Payment for honour supra protest
Payment on account
Payments, balance of
Payments union
P/E ratio - see Price-earnings ratio
Peace dividend
Pecuniary externality
Peg - see Exchange rate
Pegging the exchanges
Pendulum arbitration
Pension crisis
Pension funds
Pension insurance contract
Pension rights
Pension schemes
People’s Bank of China
Per capita income
Per capita real GDP
Perfect capital mobility
Perfect foresight
Perfect market
Perfect substitute
Performance bond
Period bill
Permanent income
Permanent income hypothesis
Permanent Interest Bearing Shares (PIBS)
Permission to deal
Permit to pollute
Perpetual bond
Perpetual debentures
Perpetual inventory method
Personal accounts - see Current account
Personal disposable income
Personal equity plan (PEP)
Personal income distribution
Personal Investment Authority (PIA)
Personal loan
Personal preferences
Personal sector
Peso crisis
Peso problem
Petty, Sir William (1623-87)
Petty's law
Phased retirement
Phillips, Alban William Housego (1914-75)
Phillips curve - see Phillips, Alban W. H
Physical controls
Picking winners
Pigou, Arthur Cecil (1877-1959)
Pigou effect
Pigouvian tax
Pink Book
Planned economy
Planned savings
Planning (land-use)
Planning permission
Plate glass insurance
Plaza Accord
Point elasticity - see Elasticity
Points (change in index)
Poison pill tactics
Policy coordination
Policy instrument
Policy proof of interest
Political business cycle
Political economy
Poll tax
Polluter pays principle
Pollution control
Pollution rights
Pollution standards
Ponzi scheme
Pooled least squares
Pooling equilibrium
Population trap
Portable pensions
Portfolio selection
Portfolio theory
Position - see Long position
Positional good
Positive economics
Post-dated cheque
Post-war credits
Poverty line
Poverty Reduction and Growth Facility
Poverty trap
Power of a test
Power of attorney
Prebisch, Raul D.
Prebisch thesis
Precautionary motive
Predatory pricing
Predetermined variable
Preference revelation
Preference shares
Preferential Trade Area for East and Southern Africa
Premium savings bonds
Prescriptive statement
Pressure group
Price-earnings ratio
Price effect
Price elasticity of demand
Price elasticity of supply
Price freeze - see Price control
Price index - see Index number
Price mechanism
Price reform
Price stability
Price-sensitive information
Price stickiness
Price system
Price theory
Price volatility
Prices and incomes policy
Primary dealer
Primary market - see New issue market
Primary sector
Prime lending rate
Prime rate (U.S.)
Principal-agent problem
Principal components analysis
Prior charges
Private banks
Private cost
Private benefit
Private enterprise - see Private sector
Private good
Private internal rate of return
Private net product
Private network
Private property
Private sector
Private sector balance
Probability distribution (of a random variable)
Probabilistic sample - see Random sample
Probit model
Produce exchange - see Commodity exchange
Production externality
Productive efficiency - see Economic efficiency
Professional indemnity insurance
Profit, falling rate of
Profit maximization
Profit policy - see Assurance
Profit taking
Profits tax
Programme, planning, budgeting system (P.P.B.S.)
Progressive tax
Prohibitive tariff
Promissory note
Propensity score matching
Propensity to consume
Propensity to import
Propensity to save
Property bond - see Bond
Property income
Property income from abroad
Property market
Property portfolio
Proportional tax
Proprietary insurance company
Prosecution, agreements to stifle
Prospect theory
Protest - see Nothing and protest
Proxy variable
Prudential Regulation Authority (PRA)
Public choice
Public debt - see National debt
Public economics
Public enterprise
Public expenditure
Public Expenditure Survey Committee (PESC)
Public finance
Public goods
Public interest
Public liability insurance
Public network
Public procurement
Public sector
Public sector borrowing requirement (P.S.B.R.)
Public Sector Debt Repayment
Public Sector Net Cash Requirement (PSNCR)
Public trustee
Public works
Public Works Loan Board
Puisne mortgage
Pump priming - see Deficit financing
Punishment strategy
Purchasing power
Purchasing power parity theory
Pure competition - see Perfect competition
Pure floating exchange rate
Pure monopoly - see Monopoly
Put option - see Option
Pyramiding - see Holding company
Pyramid scheme
Pyramid selling

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The attitude favouring laws and policies which seek to control people’s actions, overriding their preferences for their own good. An example is a variables of the individual agents, rather than on their utility levels. In the overlapping generations economy the paternalistic altruism of a parent is modelled, for example, by including in their utility function the lifetime consumption or income of their offspring, rather than the offspring’s utility level; the latter approach is non-patemalistic altruism.

Reference: Oxford Press Dictonary of Economics, 5th edt.