accelerator

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Accelerator Principle

The idea that a small change in consumer behavior can have a large effect on a company's investment. For example, suppose $100 of investment in a bakery produces $100 worth of baked goods. If consumers usually buy $100 of baked goods each year but this increases to $110, the bakery must buy 10% more equipment, baking materials, and so forth, which can increase the amount it invests in its suppliers by more than 10%. The accelerator principle exacerbates advances and declines; it is used in various models of the business cycle. See also: Multiplier.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
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Fig. 2 Accelerator. The graph shows how gross national product and the level of investment vary over time.

accelerator

the relationship between the amount of net or INDUCED INVESTMENT (gross investment less REPLACEMENT INVESTMENT) and the rate of change of NATIONAL INCOME. A rapid rise in income and consumption spending will put pressure on existing capacity and encourage businesses to invest, not only to replace existing capital as it wears out but also to invest in new plant and equipment to meet the increase in demand. By way of simple illustration, let us suppose a business meets the existing demand for its product, utilizing 10 machines, one of which is replaced each year. If demand increases by 20%, it must invest in two new machines to accommodate that demand in addition to the one replacement machine.

Investment is thus, in part, a function of changes in the level of income: I = f(AY). A rise in induced investment, in turn, serves to reinforce the MULTIPLIER effect in increasing national income.

The combined effect of accelerator and multiplier forces working through an investment cycle has been offered as an explanation for changes in the level of economic activity associated with the BUSINESS CYCLE. Because the level of investment depends upon the rate of change of GNP, when GNP is rising rapidly then investment will be at a high level, as producers seek to add to their capacity (time t in Fig. 2). This high level of investment will add to AGGREGATE DEMAND and help to maintain a high level of GNP. However, as the rate of growth of GNP slows down from time t onward, businesses will no longer need to add as rapidly to capacity, and investment will decline towards replacement investment levels. This lower level of investment will reduce aggregate demand and contribute towards the eventual fall in GNP. Once GNP has persisted at a low level for some time, then machines will gradually wear out and businesses will need to replace some of these machines if they are to maintain sufficient production capacity to meet even the lower level of aggregate demand experienced. This increase in the level of investment at time t1 will increase aggregate demand and stimulate the growth of GNP Like FIXED INVESTMENT, investment in stock is also to some extent a function of the rate of change of income so that INVENTORY INVESTMENT is subject to similar accelerator effects.

Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005
References in periodicals archive ?
The partially reconfigurable design of the hardware accelerator implements the first six stages as a static portion while the defuzzification unit uses one RP and three RM modules as illustrated in Figure 7.
(2) Since the preprocessing time was based on processing a single chunk, time can be reduced if the hardware accelerator is implemented in parallel by processing 13 chunks simultaneously.
(4) The hardware accelerator performs crypto computing asynchronously and interrupts after the execution is complete.
Renesas complements the IMP-X5, a subsystem for computer vision processing that is composed of an image processor and the programmable CV engine, with a new, innovative CNN hardware accelerator developed in house, that allows the implementation of high- performance CNNs at ultra-low low power.
The company's PCoIP technology is deployed end-to-end in virtual environments, from hardware accelerators to zero clients, standalone workstations and mobile devices.
VoiceDSP operates as a custom DSP with dual MACs and a customized hardware accelerator to support multi-channel speech vocoders, real-time facsimile relay, and telephony functions including line echo and acoustic echo cancellation, DTMF, CPT and caller identification.
Features include simple setup via a Vision Program Manager graphical user interface, multiple templates within the same region of interest, and an optional hardware accelerator board.
The 3DRAM5 architecture allows each M2V40092DWG chip to incorporate 40 Mbits of embedded DRAM in four interleaved banks (accessed via a 1024-bit wide memory bus), plus a dedicated hardware accelerator and an SRAM pixel buffer.
Batelco announced in 2017 that it had teamed up with Brinc Mena, a hands-on IoT hardware accelerator, to launch the Brinc-Batelco IOT Hub.
(ii) The hardware accelerator is used to perform the most time consuming part of the algorithm.
MANAMA: Batelco, Bahrain's leading digital solutions provider, has teamed up with Brinc, an ultra-hands-on Internet of Things (IoT) hardware accelerator, to launch its new operation in the Middle East, the Brinc-Batelco IOT Hub.
Internally, the platform integrates an Intel QuickAssist crypto hardware accelerator to boost security inspection capability and secure network traffic.