Term

Definition of terminology

§ 149. The term terminology in modern linguistics is used in different meanings. In accordance with the structure of this term (it is a combination of the word the term and the Greek logos — the word, the doctrine), it denotes the doctrine of terms, the section of linguistics (lexicology) dealing with the study of terms , or the corresponding scientific (scientific and applied) discipline. However, in this sense, the term is rarely used.


In recent times, some linguists have used the term «terminology» to describe this concept.

Terminology in linguistics is often called a set of terms used in a particular language or in a certain sphere of people’s activities.

In the latter meaning, i.e. to denote the concepts of a particular area of ​​knowledge or any field of activity, it is often used a composite term «terminological system» or the complex formation of the «terminology-based system» created on its base.

Why Does the Term Structure of Interest Rates Matter?

In general, when the term structure of interest rates curve is positive, this indicates that investors desire a higher rate of return for taking the increased risk of lending their money for a longer time period.

Many economists also believe that a steep positive curve means that investors expect strong future economic growth with higher future inflation (and thus higher interest rates), and that a sharply inverted curve means that investors expect sluggish economic growth with lower future inflation (and thus lower interest rates). A flat curve generally indicates that investors are unsure about future economic growth and inflation.

There are three central theories that attempt to explain why yield curves are shaped the way they are.

1. The «expectations theory» says that expectations of increasing short-term interest rates are what create a normal curve (and vice versa).

2. The «liquidity preference hypothesis» says that investors always prefer the higher liquidity of short-term debt and therefore any deviance from a normal curve will only prove to be a temporary phenomenon.

3. The «segmented market hypothesis» says that different investors adhere to specific maturity segments. This means that the term structure of interest rates is a reflection of prevailing investment policies.

Because the term structure of interest rates is generally indicative of future interest rates, which are indicative of an economy’s expansion or contraction, yield curves and changes in these curves can provide a great deal of information. In the 1990s, Duke University professor Campbell Harvey found that inverted yield curves have preceded the last five U.S. recessions.


Changes in the shape of the term structure of interest rates can also have an impact on portfolio returns by making some bonds relatively more or less valuable compared to other bonds. These concepts are part of what motivate analysts and investors to study the term structure of interest rates carefully.

How Does the Term Structure of Interest Rates Work?

The term structure of interest rates shows the various yields that are currently being offered on bonds of different maturities. It enables investors to quickly compare the yields offered on short-term, medium-term and long-term bonds.

Note that the chart does not plot coupon rates against a range of maturities — that graph is called the spot curve.

The term structure of interest rates takes three primary shapes. If short-term yields are lower than long-term yields, the curve slopes upwards and the curve is called a positive (or «normal») yield curve. Below is an example of a normal yield curve:

If short-term yields are higher than long-term yields, the curve slopes downwards and the curve is called a negative (or «inverted») yield curve. Below is example of an inverted yield curve:

Finally, a flat term structure of interest rates exists when there is little or no variation between short and long-term yield rates. Below is an example of a flat yield curve:

It is important that only bonds of similar risk are plotted on the same yield curve. The most common type of yield curve plots Treasury securities because they are considered risk-free and are thus a benchmark for determining the yield on other types of debt.

The shape of the curve changes over time. Investors who are able to predict how term structure of interest rates will change can invest accordingly and take advantage of the corresponding changes in bond prices.

Term structure of interest rates are calculated and published by The Wall Street Journal, the Federal Reserve, and a variety of other financial institutions.

The U.S. Treasury Yield Curve

This yield curve is considered the benchmark for the credit market, as it reports the yields of risk-free fixed income investments across a range of maturities. In the credit market, banks and lenders use this benchmark as a gauge for determining lending and savings rates. Yields along the U.S. Treasury yield curve are primarily influenced by the Federal Reserve’s federal funds rate. Other yield curves can also be developed based upon a comparison of credit investments with similar risk characteristics.

Most often, the Treasury yield curve is upward-sloping. One basic explanation for this phenomenon is that investors demand higher interest rates for longer-term investments as compensation for investing their money in longer-duration investments. Occasionally, long-term yields may fall below short-term yields, creating an inverted yield curve that is generally regarded as a harbinger of recession.

Description #Description

The usage of the get_term function is to apply filters to a term object. It is possible to get a term object from the database before applying the filters.


$term ID must be part of $taxonomy, to get from the database. Failure, might be able to be captured by the hooks. Failure would be the same value as $wpdb returns for the get_row method.

There are two hooks, one is specifically for each term, named ‘get_term’, and the second is for the taxonomy name, ‘term_$taxonomy’. Both hooks gets the term object, and the taxonomy name as parameters. Both hooks are expected to return a Term object.

‘get_term’ hook – Takes two parameters the term Object and the taxonomy name. Must return term object. Used in get_term() as a catch-all filter for every $term.

‘get_$taxonomy’ hook – Takes two parameters the term Object and the taxonomy name. Must return term object. $taxonomy will be the taxonomy name, so for example, if ‘category’, it would be ‘get_category’ as the filter name. Useful for custom taxonomies or plugging into default taxonomies.

Error Term Use in a Formula

An error term essentially means that the model is not completely accurate and results in differing results during real-world applications. For example, assume there is a multiple linear regression function that takes the following form: 

Y=αX+βρ+ϵwhere:α,β=Constant parametersX,ρ=Independent variablesϵ=Error term\begin{aligned} &Y = \alpha X + \beta \rho + \epsilon \\ &\textbf{where:} \\ &\alpha, \beta = \text{Constant parameters} \\ &X, \rho = \text{Independent variables} \\ &\epsilon = \text{Error term} \\ \end{aligned}​Y=αX+βρ+ϵwhere:α,β=Constant parametersX,ρ=Independent variablesϵ=Error term​

When the actual Y differs from the expected or predicted Y in the model during an empirical test, then the error term does not equal 0, which means there are other factors that influence Y.

Noun[change]

Singularterm

Plural

  1. (countable) A term is a word or group of words, usually one with a special meaning in a particular field or area.
    They didn’t know the meaning of the technical terms the doctor was using.
    What is the definition of this term?
    At age 10, she only knew that it was a term of abuse, a swear word.
    She spoke in glowing terms about the progress they had made.
  2. (plural) You use «in terms of» to introduce a topic or subject.
    Simply spending more money is not useful in terms of getting people back to work.
    In terms of both numbers of people and size, California is one of the largest States in America.
  3. (plural) If you talk about something in general/economic/human, etc. terms, you talk about it from that point of view.
    The changes are great in dollar terms, but the human cost is too high.
  4. (countable) A term is a period of time.
    The President of Mexico is limited to serving a single term of six years.
    He faces a maximum prison term of 15 years and $8.5 million in fines
    The price may be up and down, but over the long term it will certainly rise.
    The period of employment comes to term in three years.
    She carried the baby to term.
  5. (countable) A term is one of the times of year when school classes are held, usually September to December and January to April or June, also June to August.
  6. (countable) (mathematics) A term is a number or symbol in a formula.
    The equation only worked when we included an extra constant term.
  7. (plural) If you compare money or numbers in real terms, you compare the value on an equal basis.
    Today we are paying less for gasoline in real terms than we have at any time since 1918.
    Although the absolute number of trucking accidents is up slightly, they are down 10 percent in the decade in real terms .
  8. (plural) If you come to terms with something that is not nice, you accept it.
    He hasn’t come to terms with the fact that she’s not coming back.
  9. (usually plural) (law) The terms of a contract or purchase are its rules, conditions and limits.
    The company has announced generally agreement on a new contract though the exact terms still have to be worked out.
    Under the terms of the purchase, we get the house on July 14th.
  10. (plural) If two or more people or groups are on good/equal/bad etc. terms, they have a relationship that is good/equal/bad etc.
  11. (plural) If two or more people or groups are on speaking terms, they are not close but do speak to each other.

The Outlook for the Overall Credit Market

The term structure of interest rates and the direction of the yield curve can be used to judge the overall credit market environment. A flattening of the yield curve means longer-term rates are falling in comparison to short-term rates, which could have implications for a recession. When short-term rates begin to exceed long-term rates, the yield curve is inverted, and a recession is likely occurring or approaching.

When longer-term rates fall below shorter-term rates, the outlook for credit over the long term is weak. This is often consistent with a weak or recessionary economy, which is defined by two consecutive periods of negative growth in the gross domestic product (GDP). While other factors, including foreign demand for U.S. Treasuries, can also result in an inverted yield curve, historically, an inverted yield curve has been an indicator of an impending recession in the United States.

Предложения

Tom is on good terms with John.Том в хороших отношениях с Джоном.

Apnoea is a medical term which comes from Greek; it literally means «without breath».Апноэ — это медицинский термин, происходящий из греческого языка, он буквально означает «без дыхания».

The president’s term of office is four years.Президентский срок длится четыре года.

The second term came to an end.Второй семестр подошёл к концу.

Global warming, the term is so outdated, it’s called climate change now.Глобальное потепление — термин столь устаревший, это теперь называется изменение климата.


It is impossible for me to finish my term paper by tomorrow.Просто невозможно закончить курсовую работу к завтрашнему дню!

I want to come to terms with him.Я хочу с ним договориться.

I’m on good terms with him.Я в хороших отношениях с ним.

Which is closer to Arabic in terms of sound, Spanish or Portuguese?Какой язык в плане звучания ближе к арабскому, испанский или португальский?

What are the terms of the contract?Каковы условия контракта?

According to the terms of the contract, your payment was due on May 31st.Согласно условиям контракта, вы должны были внести оплату до 31 мая.

You see everything in terms of money.Ты на всё смотришь через призму денег.

They settled on the terms of the contract.Они договорились обо всех пунктах контракта.

He thinks of everything in terms of profit.Он думает обо всём с точки зрения прибыли.

I am on good terms with him.Я с ним в хороших отношениях.

What Is an Error Term?

An error term is a residual variable produced by a statistical or mathematical model, which is created when the model does not fully represent the actual relationship between the independent variables and the dependent variables. As a result of this incomplete relationship, the error term is the amount at which the equation may differ during empirical analysis.

The error term is also known as the residual, disturbance, or remainder term, and is variously represented in models by the letters e, ε, or u.

Key Takeaways

  • An error term appears in a statistical model, like a regression model, to indicate the uncertainty in the model.
  • The error term is a residual variable that accounts for a lack of perfect goodness of fit.
  • Heteroskedastic refers to a condition in which the variance of the residual term, or error term, in a regression model varies widely.

Source #Source

File: wp-includes/taxonomy.php

function get_term( $term, $taxonomy = '', $output = OBJECT, $filter = 'raw' ) {
	if ( empty( $term ) ) {
		return new WP_Error( 'invalid_term', __( 'Empty Term.' ) );
	}

	if ( $taxonomy && ! taxonomy_exists( $taxonomy ) ) {
		return new WP_Error( 'invalid_taxonomy', __( 'Invalid taxonomy.' ) );
	}

	if ( $term instanceof WP_Term ) {
		$_term = $term;
	} elseif ( is_object( $term ) ) {
		if ( empty( $term->filter ) || 'raw' === $term->filter ) {
			$_term = sanitize_term( $term, $taxonomy, 'raw' );
			$_term = new WP_Term( $_term );
		} else {
			$_term = WP_Term::get_instance( $term->term_id );
		}
	} else {
		$_term = WP_Term::get_instance( $term, $taxonomy );
	}

	if ( is_wp_error( $_term ) ) {
		return $_term;
	} elseif ( ! $_term ) {
		return null;
	}

	// Ensure for filters that this is not empty.
	$taxonomy = $_term->taxonomy;

	/**
	 * Filters a taxonomy term object.
	 *
	 * @since 2.3.0
	 * @since 4.4.0 `$_term` is now a `WP_Term` object.
	 *
	 * @param WP_Term $_term    Term object.
	 * @param string  $taxonomy The taxonomy slug.
	 */
	$_term = apply_filters( 'get_term', $_term, $taxonomy );

	/**
	 * Filters a taxonomy term object.
	 *
	 * The dynamic portion of the filter name, `$taxonomy`, refers
	 * to the slug of the term's taxonomy.
	 *
	 * @since 2.3.0
	 * @since 4.4.0 `$_term` is now a `WP_Term` object.
	 *
	 * @param WP_Term $_term    Term object.
	 * @param string  $taxonomy The taxonomy slug.
	 */
	$_term = apply_filters( "get_{$taxonomy}", $_term, $taxonomy );

	// Bail if a filter callback has changed the type of the `$_term` object.
	if ( ! ( $_term instanceof WP_Term ) ) {
		return $_term;
	}

	// Sanitize term, according to the specified filter.
	$_term->filter( $filter );

	if ( ARRAY_A === $output ) {
		return $_term->to_array();
	} elseif ( ARRAY_N === $output ) {
		return array_values( $_term->to_array() );
	}

	return $_term;
}

Linear Regression, Error Term, and Stock Analysis

Linear regression is a form of analysis that relates to current trends experienced by a particular security or index by providing a relationship between a dependent and independent variables, such as the price of a security and the passage of time, resulting in a trend line that can be used as a predictive model.

A linear regression exhibits less delay than that experienced with a moving average, as the line is fit to the data points instead of based on the averages within the data. This allows the line to change more quickly and dramatically than a line based on numerical averaging of the available data points.

Understanding Term Structure Of Interest Rates

Essentially, term structure of interest rates is the relationship between interest rates or bond yields and different terms or maturities. When graphed, the term structure of interest rates is known as a yield curve, and it plays a crucial role in identifying the current state of an economy. The term structure of interest rates reflects expectations of market participants about future changes in interest rates and their assessment of monetary policy conditions.

In general terms, yields increase in line with maturity, giving rise to an upward-sloping, or normal, yield curve. The yield curve is primarily used to illustrate the term structure of interest rates for standard U.S. government-issued securities. This is important as it is a gauge of the debt market’s feeling about risk. The most frequently reported yield curve compares the three-month, two-year, five-year, 10-year, and 30-year U.S. Treasury debt. (Yield curve rates are usually available at the Treasury’s interest rate web sites by 6:00 p.m. ET each trading day),

The term of the structure of interest rates has three primary shapes.

  1. Upward sloping—long term yields are higher than short term yields. This is considered to be the «normal» slope of the yield curve and signals that the economy is in an expansionary mode.
  2. Downward sloping—short term yields are higher than long term yields. Dubbed as an «inverted» yield curve and signifies that the economy is in, or about to enter, a recessive period.
  3. Flat—very little variation between short and long term yields. Signals that the market is unsure about the future direction of the economy.

Key Takeaways

  • Term structure of interest rates, commonly known as the yield curve, depicts the interest rates of similar quality bonds at different maturities.
  • The term structure of interest rates reflects expectations of market participants about future changes in interest rates and their assessment of monetary policy conditions.
  • The most frequently reported yield curve compares the three-month, two-year, five-year, 10-year and 30-year U.S. Treasury debt.

What Do Error Terms Tell Us?

Within a linear regression model tracking a stock’s price over time, the error term is the difference between the expected price at a particular time and the price that was actually observed. In instances where the price is exactly what was anticipated at a particular time, the price will fall on the trend line and the error term will be zero.

Points that do not fall directly on the trend line exhibit the fact that the dependent variable, in this case, the price, is influenced by more than just the independent variable, representing the passage of time. The error term stands for any influence being exerted on the price variable, such as changes in market sentiment.

The two data points with the greatest distance from the trend line should be an equal distance from the trend line, representing the largest margin of error.

If a model is heteroskedastic, a common problem in interpreting statistical models correctly, it refers to a condition in which the variance of the error term in a regression model varies widely.


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