School of economic thought (named after John Maynard Keynes) which advocates government intervention and spending to manage the economy, promote growth and control prices.
Measure of the relative peakedness or flatness of a statistical distribution compared to the normal distribution (a statistical distribution often used as a fairly good approximation of reality because it is mathematically easy to manipulate). A normal distribution has kurtosis of 3. Higher kurtosis indicates a relatively peaked distribution and a higher frequency of observations in the tails of the distribution. Lower kurtosis indicates a relatively flat distribution. Equity market returns generally have a higher kurtosis than the normal distribution — in other words, they are “fat-tailed”.