International economics

International economics

International trade theories, policies, finances and their effects on economic activities.

Industry: Economy

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International economics

Negative externality

Economy; International economics

A harmful externality; that is, a harmful effect of one economic agent's actions on another. Considered a distortion because the first agent has inadequate incentive to curtail the action. Examples ...

Negative growth

Economy; International economics

A decline in size over time, said of an economy's GDP in recession or of the size of a declining firm or industry. Seems like a euphemism, except that no obvious alternative term suggests itself. ...

Neighbourhood production structure

Economy; International economics

A structure of technology for a general equilibrium model due to Jones and Kierzkowski (1986). With an arbitrary but equal number of goods and factors, each factor produces two (different) goods, ...

Monetary approach

Economy; International economics

A framework for analysing 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 ...

Monetary transmission mechanism

Economy; International economics

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, ...

Monetize

Economy; International economics

1. To turn anything into money. 2. To convert government debt into currency.

Money

Economy; International economics

1. Anything that serves the three basic purposes of money: medium of exchange; store of value; unit of account. 2. In modern economies, a currency issued by an agency of government. 3. As an ...