- Industry: Education
- Number of terms: 31274
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A weekly newsmagazine (which calls itself a newspaper), published in the United Kingdom but distributed worldwide. Since it was established in 1843, it has been a champion of free trade.
Industry:Economy
A property of an economic model that is derived (deduced) from its assumptions. It usually takes the form of a prediction about something that would be true in the world if the world conformed to the model's assumptions, and perhaps also to additional assumptions specified in the proposition.
Industry:Economy
1. The empirical regularity observed by Thirlwall (1979) that for many countries the rate of growth of output, ''g<sub>Y</sub>'', is approximated by the rate of growth of exports, ''g<sub>X</sub>'', divided by the country's elasticity of demand for imports, ''η<sub>M</sub>'': ''g<sub>Y</sub> = g<sub>X</sub>/η<sub>M</sub>''. 2. Equivalently, letting export growth be driven by foreign income growth, ''g<sub>Y*</sub>'', and the elasticity of (foreign) demand for exports, ''η<sub>X</sub>'', this equates the ratio of foreign and domestic growth rates to the ratio of the trade elasticities: ''g<sub>Y</sub>/g<sub>Y*</sub> = η<sub>X</sub>/η<sub>M</sub>''. The latter was dubbed by Krugman (1989) the "45-degree rule. "
Industry:Economy
Aid that is given under the condition that part or all of it must be used to purchase goods from the country providing the aid.
Industry:Economy
A monetary policy that is contractionary, thus with high interest rates for borrowing. Contrasts with easy money.
Industry:Economy
A small tax on international currency transactions, proposed by James Tobin in 1978 to discourage destabilizing short-term international capital movements. Advocates suggest a tax of 0. 1-0. 25% with revenue used for urgent global priorities. Others question enforceability.
Industry:Economy
A measure of the output of an industry or economy relative to the size of all of its primary factor inputs. The term, and its acronym TFP, often refers to the growth of this measure, as measured by the Solow residual. See also Hicks-neutral technical progress.
Industry:Economy
1. Capable of being traded among countries. 2. A good or service that is tradable; with tradables referring to an aggregate of such goods and services.
Industry:Economy
1. To exchange one item for another, one person or firm providing an item (good, service, asset, etc. ) to another person or firm, with the latter providing a different item to the first in return, as payment. 2. To export and/or import. 3. The quantity or value of exports and/or imports.
Industry:Economy
Actually signed on Jan. 3, 1975, this major piece of trade legislation not only renewed and revised the authority to negotiate trade agreements, it also dealt with an expanded list of issues including tariff preferences, unfair trade, the escape clause, and adjustment assistance, and it introduced fast track authority.
Industry:Economy
