- Industry: Education
- Number of terms: 31274
- Number of blossaries: 0
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A heterogeneous firm model in which firms employ labor as their only input, firm productivity is chosen randomly, and firms die with some constant probability. With trade, only firms with productivity above some cutoff level are able to export. Due to Melitz (2003).
Industry:Economy
A common market among Argentina, Brazil, Paraguay and Uruguay, known as the "Common Market of the South" ("Mercado Común del Sur"). It was created by the Treaty of Asunción on March 26, 1991, and added Chile and Bolivia as associate members in 1996 and 1997.
Industry:Economy
A diagram showing the joint determination of savings, investment, and the interest rate in two countries. Invented by Metzler (1960).
Industry:Economy
A good that has undergone some processing and that requires further processing before going to final consumers; an intermediate good. Sanyal and Jones (1982) introduced the term, observing that almost all international trade is of middle products, and they provided a model based on that assumption.
Industry:Economy
A set of objectives for economic development agreed upon at a September 2000 meeting of world leaders at the United Nations, and intended to be achieved by the year 2015.
Industry:Economy
A meeting of ministers. In the context of the GATT and WTO, it is a meeting of the trade ministers from the member countries (including, from the U. S. , USTR).
Industry:Economy
1. Specification of the proportion of domestically produced content in products sold on the domestic market. 2. Specification of an amount of domestically produced product that must be bought by an importer for given quantities of imports, under a linking scheme.
Industry:Economy
A stylized simplification of reality in which behavior is represented by variables and by assumptions about how they are determined and interact. Models enable one to think consistently and logically about complex issues, to work out how changes in an economic system matter, and (sometimes) to make predictions about economic performance.
Industry:Economy
A framework for analyzing exchange rates and the balance of payments that focuses on supply and demand for money in different countries. A floating exchange rate is assumed to equate supply and demand and thus to reflect relative growth rates of money supplies and determinants of demand. Under a pegged exchange rate, the balance of payments surplus or deficit equals the excess demand or supply, respectively, for a country's money.
Industry:Economy
1. Any of several channels by which a change in the money supply of a country can cause changes in real variables. Most operate primarily within a country, but some, as through the exchange rate, operate through international transactions. 2. Any of several ways that real and monetary shocks in one economy can be transmitted to another through monetary channels involving interest rates, exchange rates, and international capital flows.
Industry:Economy
