- Industry: Education
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A principle of monetary policy that the rate of inflation should be kept within a pre-specified range, using expansionary policy when the rate is below that range and contractionary policy above it.
Industry:Economy
1. Anything that is used in a production process, including both the services of primary factors and intermediate inputs. 2. Sometimes input refers only to intermediate inputs, as distinct from primary factors.
Industry:Economy
A table of all inputs and outputs of an economy's industries, including intermediate transactions, primary inputs, and sales to final users. As developed by Wassily Leontief, the table can be used to calculate gross outputs and primary factor inputs needed to produce specified net outputs. Leontief (1954) used this to find the factor content of U. S. Trade, generating the Leontief Paradox.
Industry:Economy
1. Too small to matter, usually meaning that the size of a variable or effect is small enough that it will not be noticed in comparison to whatever else is going on. 2. Not statistically significant.
Industry:Economy
A web-based network of research economists in Europe and North America focusing on the global economy, trade and financial integration, and international development.
Industry:Economy
1. An economic variable that is controlled by policy makers and can be used to influence other variables, called targets. Examples are monetary and fiscal policies used to achieve external and internal balance. 2. See financial instrument.
Industry:Economy
A financial arrangement to reduce risk. The purchaser of insurance pays a fixed amount, in return for which the seller agrees to pay some larger amount if an unlikely adverse event occurs.
Industry:Economy
A hypothetical, theoretical benchmark in which both goods and factors move costlessly between countries. The IWE is associated with a rectangular diagram depicting allocation of factors to countries, showing conditions for FPE. The name was coined by Dixit and Norman (1980), but the concept and technique was introduced by Travis (1964).
Industry:Economy
A box diagram, somewhat analogous to an Edgeworth box, depicting alternative allocations of world endowments of two factors between two countries. It is used to illustrate the conditions for factor price equalization. See figure.
Industry:Economy
A development bank for the countries of Latin America and the Caribbean.
Industry:Economy
