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p
Programmability
Characteristic of IT protocols developed on distributed ledgers that enable instructions to be executed automatically when certain pre-defined conditions are met (smart contracts).
r
Real wages
These measure the purchasing power of nominal wages by adjusting the latter for the change in the general price level.
s
Securitisation
Financial technique consisting in selling financial assets such as bank loans to a special purpose vehicle and issuing financial securities backed by these assets.
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