Terms of Trade, the Trade Balance, and Stability

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Publisher :
ISBN 13 :
Total Pages : 36 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis Terms of Trade, the Trade Balance, and Stability by : Michael Gavin

Download or read book Terms of Trade, the Trade Balance, and Stability written by Michael Gavin and published by . This book was released on 1991 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Balanced Trade

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Publisher : Lexington Books
ISBN 13 : 073918881X
Total Pages : 145 pages
Book Rating : 4.7/5 (391 download)

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Book Synopsis Balanced Trade by : Jesse Richman

Download or read book Balanced Trade written by Jesse Richman and published by Lexington Books. This book was released on 2014-04-24 with total page 145 pages. Available in PDF, EPUB and Kindle. Book excerpt: How should a principled nation which believes in the benefits of mutually beneficial trade respond to the predations of mercantilist trading partners and imbalanced trade? Many argue that the response should be to do little or nothing. Balanced Trade argues that achieving the full benefits of international trade requires an effective response. Although trade deficits provide short-term gains in consumption, these are combined with long-term losses in consumption, innovation, investment, employment and power. Furthermore, market mechanisms do not correct trade imbalances that result from mercantilism, nor do they compensate for the long term shift in production and consumption towards the mercantilist. Balancing trade can make important short run and long run contributions to economic stability and prosperity. In America today, despite the growing evidence that imbalanced free trade is not working, many American economists remain adamant in their promotion of free trade. They are also quick to label actions taken to balance trade as protectionism. The political system has also failed to effectively address the problem of imbalanced trade, and the Federal Reserve has often exacerbated rather than addressed the challenge. We show that the classical economic arguments against mercantilism do not justify doing nothing. Effectively responding to imbalanced trade and mercantilism requires careful selection of strategy in order to achieve multiple objectives: balancing trade while maintaining the benefits of international trade, avoiding unnecessary inefficiencies, and maintaining compliance with international law. One of the best options is the Scaled Tariff. By targeting countries with which the United States has a large current account deficit, the Scaled Tariff would efficiently, legally, and effectively balance trade. It would be applied to all imported goods from trade surplus countries that have had a sizable trade surplus with the United States over the most recent four economic quarters.The tariff rate would be designed to take in a portion (e.g. 50%) of the bilateral trade deficit (goods plus services) as revenue. No particular product is protected; the scaled tariff simply changes the terms of trade between the two countries, much as currency devaluation would change the terms of trade with all countries.

Terms of Trade

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Publisher : World Scientific
ISBN 13 : 9814518603
Total Pages : 616 pages
Book Rating : 4.8/5 (145 download)

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Book Synopsis Terms of Trade by : Alan V. Deardorff

Download or read book Terms of Trade written by Alan V. Deardorff and published by World Scientific. This book was released on 2014 with total page 616 pages. Available in PDF, EPUB and Kindle. Book excerpt: Have you ever wondered what a term in international economics means? This useful reference book offers a glossary of terms in both international trade and international finance, with emphasis on economic issues. It is intended for students getting their first exposure to international economics, although advanced students will also find it useful for some of the more obscure terms that they have forgotten or never encountered. Besides an extensive glossary of terms that has been expanded about 50% from the first edition, there is a picture gallery of diagrams used to explain key concepts such as the Edgeworth Production Box and the Offer Curve Diagram in international economics. This section is followed by over 30 lists of terms that occur a lot in international economics, grouped by subject to help users find terms that they cannot recall. Prior to an enlarged bibliography is an expanded section on the origins of terms in international economics, which records what the author has been able to learn about the origins of some of the terms used in international economics. This is a must-have portable glossary in international trade and international economics!. Sample Chapter(s). Glossary of Terms in International Economics (1,370 KB). Contents: Glossary of Terms in International Economics: A-Z; 0OCo9; Picture Gallery: Edgeworth Production Box; Integrated World Economy Diagram; IS-LM-BP Diagram; Lerner Diagram; Offer Curve Diagram; Specific-Factors Model; Tariff in Partial Equilibrium; Trade and Transformation Curve Diagram; Lists of Terms in International Economics by Subject: Arguments for Protection; Central Banks; Countertrade; Country Groups; Crises; Development Banks; Effects; Empirical Findings; Exchange Regimes; Fragmentation: Terms and Types; GATT and WTO Ministerials; GATT Articles; Indexes; International Classification Systems; International Commodity Agreements and Organizations; Memberships; Models; Nontariff Barriers; Other Nontariff Measures; Paradoxes and Puzzles; Preferential Trading Arrangements; Product-Specific Agreements, Institutions, and Conflicts; Regional Commissions for Economic and Social Development; Spanish Acronyms in International Economics; Techniques of Analysis; Terms of Trade Definitions; Theoretical Propositions; Trade Disputes; Trade Ministries; Trade Rounds; UNCTAD Meetings; United Nations Organizations; United States Government Units (Dealing with International Economic Matters); Origins of Certain Key Terms in International Economics. Readership: Undergraduates and graduate students in international economics; government and industry personnel related to international economics and finance."

Devaluation and the Stability of the Trade Balance

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Publisher :
ISBN 13 :
Total Pages : 88 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Devaluation and the Stability of the Trade Balance by : Evangelos A. Devletoglou

Download or read book Devaluation and the Stability of the Trade Balance written by Evangelos A. Devletoglou and published by . This book was released on 1966 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Terms of Trade and Economic Fluctuations

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Publisher : International Monetary Fund
ISBN 13 : 1451852061
Total Pages : 61 pages
Book Rating : 4.4/5 (518 download)

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Book Synopsis The Terms of Trade and Economic Fluctuations by : Mr.Enrique G. Mendoza

Download or read book The Terms of Trade and Economic Fluctuations written by Mr.Enrique G. Mendoza and published by International Monetary Fund. This book was released on 1992-11-01 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: A three-good, stochastic intertemporal equilibrium model of a small open economy is used to examine the link between terms of trade and business cycles. Equilibrium co-movements of model economies representing industrial and developing countries are computed and compared with the stylized facts of 30 countries. The results show that terms-of-trade shocks account for half of observed output variability and that the model mimics the Harberger-Laursen-Metzler effect and produces large deviations from purchasing power parity. The elasticity of substitution between tradable and nontradable goods and the persistence of the shocks play a key role in producing these results.

Changing Patterns of Global Trade

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Publisher : International Monetary Fund
ISBN 13 : 1463973101
Total Pages : 87 pages
Book Rating : 4.4/5 (639 download)

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Book Synopsis Changing Patterns of Global Trade by : Nagwa Riad

Download or read book Changing Patterns of Global Trade written by Nagwa Riad and published by International Monetary Fund. This book was released on 2012-01-15 with total page 87 pages. Available in PDF, EPUB and Kindle. Book excerpt: Changing Patterns of Global Trade outlines the factors underlying important shifts in global trade that have occurred in recent decades. The emergence of global supply chains and their increasing role in trade patterns allowed emerging market economies to boost their inputs in high-technology exports and is associated with increased trade interconnectedness.The analysis points to one important trend taking place over the last decade: the emergence of China as a major systemically important trading hub, reflecting not only the size of trade but also the increase in number of its significant trading partners.

Principles of International Finance and Open Economy Macroeconomics

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Publisher : Academic Press
ISBN 13 : 0128025387
Total Pages : 363 pages
Book Rating : 4.1/5 (28 download)

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Book Synopsis Principles of International Finance and Open Economy Macroeconomics by : Cristina Terra

Download or read book Principles of International Finance and Open Economy Macroeconomics written by Cristina Terra and published by Academic Press. This book was released on 2015-06-09 with total page 363 pages. Available in PDF, EPUB and Kindle. Book excerpt: Principles of International Finance and Open Economy Macroeconomics: Theories, Applications, and Policies presents a macroeconomic framework for understanding and analyzing the global economy from the perspectives of emerging economies and developing countries. Unlike most macroeconomic textbooks, which typically emphasize issues about developed countries while downplaying issues related to developing countries, this book emphasizes problems in emerging economies, including those in Latin American countries. It also explains recent developments in international finance that are essential to a thorough understanding of the effects and implications of the recent financial crisis. - Concentrates on developing country perspectives on International Finance and the Economy, including those in Latin American countries - Provides case studies and publicly available data allowing readers to explore theories and their applications - Explains recent developments in international finance that are essential to a thorough understanding of the effects and implications of the recent financial crisis - Proposes a unified mathematical model accessible to those with basic mathematical skills

International Economic Interdependence, Patterns of Trade Balances and Economic Policy Coordination

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Publisher : Springer
ISBN 13 : 1349222569
Total Pages : 437 pages
Book Rating : 4.3/5 (492 download)

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Book Synopsis International Economic Interdependence, Patterns of Trade Balances and Economic Policy Coordination by : Mario Baldassarri

Download or read book International Economic Interdependence, Patterns of Trade Balances and Economic Policy Coordination written by Mario Baldassarri and published by Springer. This book was released on 2016-07-27 with total page 437 pages. Available in PDF, EPUB and Kindle. Book excerpt: The subject of this book is the kind of economic interaction and interdependence that has arisen among nations in the contemporary world economy, the nature and significance of the pattern of trade balances that have resulted from them, and the question of what, if anything, should be done by national governments about that pattern. The need for international coordination of economic policies is also investigated.

A Practical Guide to Trade Policy Analysis

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Publisher :
ISBN 13 : 9789287038128
Total Pages : 0 pages
Book Rating : 4.0/5 (381 download)

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Book Synopsis A Practical Guide to Trade Policy Analysis by : Marc Bacchetta

Download or read book A Practical Guide to Trade Policy Analysis written by Marc Bacchetta and published by . This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Trade flows and trade policies need to be properly quantified to describe, compare, or follow the evolution of policies between sectors or countries or over time. This is essential to ensure that policy choices are made with an appropriate knowledge of the real conditions. This practical guide introduces the main techniques of trade and trade policy data analysis. It shows how to develop the main indexes used to analyze trade flows, tariff structures, and non-tariff measures. It presents the databases needed to construct these indexes as well as the challenges faced in collecting and processing these data, such as measurement errors or aggregation bias. Written by experts with practical experience in the field, A Practical Guide to Trade Policy Analysis has been developed to contribute to enhance developing countries' capacity to analyze and implement trade policy. It offers a hands-on introduction on how to estimate the distributional effects of trade policies on welfare, in particular on inequality and poverty. The guide is aimed at government experts engaged in trade negotiations, as well as students and researchers involved in trade-related study or research. An accompanying DVD contains data sets and program command files required for the exercises. Copublished by the WTO and the United Nations Conference on Trade and Development

Handbook of Commercial Policy

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Publisher : Elsevier
ISBN 13 : 0444639268
Total Pages : 600 pages
Book Rating : 4.4/5 (446 download)

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Book Synopsis Handbook of Commercial Policy by :

Download or read book Handbook of Commercial Policy written by and published by Elsevier. This book was released on 2016-11-02 with total page 600 pages. Available in PDF, EPUB and Kindle. Book excerpt: Handbook of Commercial Policy explores three main topics that permeate the study of commercial policy. The first section presents a broad set of basic empirical facts regarding the pattern and evolution of commercial policy, with the second section investigating the crosscutting legal issues relating to the purpose and design of agreements. Final sections cover key issues of commercial policy in the modern global economy. Every chapter in the book provides coverage from the perspectives of multilateral, and where appropriate, preferential trade agreements. While most other volumes are policy-oriented, this comprehensive guide explores the ways that intellectual thinking and rigor organize research, further making frontier-level synthesis and current theoretical, and empirical, research accessible to all. - Covers the research areas that are critical for understanding how the world of commercial policy has changed, especially over the last 20 years - Presents the way in which research on the topic has evolved - Scrutinizes the economic modeling of bargaining and legal issues - Useful for examining the theory and empirics of commercial policy

Commodity Terms of Trade

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Publisher : International Monetary Fund
ISBN 13 : 1484393856
Total Pages : 38 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis Commodity Terms of Trade by : Bertrand Gruss

Download or read book Commodity Terms of Trade written by Bertrand Gruss and published by International Monetary Fund. This book was released on 2019-01-24 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents a comprehensive database of country-specific commodity price indices for 182 economies covering the period 1962-2018. For each country, the change in the international price of up to 45 individual commodities is weighted using commodity-level trade data. The database includes a commodity terms-of-trade index—which proxies the windfall gains and losses of income associated with changes in world prices—as well as additional country-specific series, including commodity export and import price indices. We provide indices that are constructed using, alternatively, fixed weights (based on average trade flows over several decades) and time-varying weights (which can account for time variation in the mix of commodities traded and the overall importance of commodities in economic activity). The paper also discusses the dynamics of commodity terms of trade across country groups and their influence on key macroeconomic aggregates.

Trade, Stability, and Macroeconomics

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Publisher : Academic Press
ISBN 13 : 1483267482
Total Pages : 577 pages
Book Rating : 4.4/5 (832 download)

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Book Synopsis Trade, Stability, and Macroeconomics by : George Horwich

Download or read book Trade, Stability, and Macroeconomics written by George Horwich and published by Academic Press. This book was released on 2014-05-10 with total page 577 pages. Available in PDF, EPUB and Kindle. Book excerpt: Trade, Stability, and Macroeconomics: Essays in Honor of Lloyd A. Metzler provides information pertinent to the fundamental aspects of trade, stability, and macroeconomics. This book covers a variety of topics, including nontraded and intermediate commodities, prices, production, exchange rates, and wages. Organized into five parts encompassing 22 chapters, this book begins with an overview of the theory of international trade and the effect of a tariff or export tax on domestic prices. This text then defines the supply of the international commodities as a function of their prices and of the output of the domestic commodity. Other chapters consider the Stolper–Samuelson analysis of the effects of protection of the distribution of income. This book discusses as well the theory of external–internal balance or the assignment problem as related to macroeconomic policy in an open economy. The final chapter deals with the dynamic allocation of scarce resources. This book is a valuable resource for economists.

IMF Staff Papers

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Publisher : International Monetary Fund
ISBN 13 : 1451949391
Total Pages : 170 pages
Book Rating : 4.4/5 (519 download)

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Book Synopsis IMF Staff Papers by : International Monetary Fund. Research Dept.

Download or read book IMF Staff Papers written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 1952-01-01 with total page 170 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses various foreign payments practices in the United States. Most foreign payments in the United States are, therefore, done along traditional lines in whatever manner. Several nontraditional practices, however, have developed in recent years as the result of trade and payments restrictions established by foreign Governments. The amount and type of exchange sold by the US banks to their customers are limited only, if at all, by regulations abroad or by the banks' own limitations. In making or receiving foreign payments, the US banks deal generally with three types of customers which are, in the order of their importance: exporters and importers, individuals or corporations desiring to make or receive nontrade financial payments, and speculators. Foreign payments for account of individuals are usually small individually however, in the aggregate, they represent an important function of the banks located in the larger cities with a considerable foreign-born population.

Trade, Growth, and the Balance of Payments

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Publisher :
ISBN 13 :
Total Pages : 284 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Trade, Growth, and the Balance of Payments by : Robert E. Baldwin

Download or read book Trade, Growth, and the Balance of Payments written by Robert E. Baldwin and published by . This book was released on 1965 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bibliographical footnotes. Optimal trade intervention in the presence of domestic distortions, by H.G. Johnson.--Equalization by trade of the interest rate along with the real wage, by P.A. Samuelson.--On the equivalence of tariffs and quotas, by J. Bhagwati.--Tariff-cutting techniques in the Kennedy round, by R.E. Baldwin.--Some aspects of policies for freer trade, by B. Ohlin.--"Vent for surplus" models of trade and growth, by R.E. Caves.--International, National, regional, and local industries, by J. Tinbergen.--The multiplier if imports are for investments, by W.F. Stolper.--Trade, speculation, and the forward exchange rate, by P.B. Kenen.--Monetary stability as a precondition for economic integration, by R. Kamitz.--Adjustment, compensatory correction, and financing of imbalances in international payments, by F. Machlup.--Interest rates and the balance of payments: an analysis of the Swiss experience, by J. Niehans. Germany's persistent balance-of-payments disequilibrium, by C.P. Kindleberger.--Competition and growth: the lesson of the United States balance of payments, by E. Sohmen.

Economic Disturbances and Equilibrium in an Integrated Global Economy

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Publisher : Academic Press
ISBN 13 : 0128139943
Total Pages : 448 pages
Book Rating : 4.1/5 (281 download)

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Book Synopsis Economic Disturbances and Equilibrium in an Integrated Global Economy by : Victor A. Canto

Download or read book Economic Disturbances and Equilibrium in an Integrated Global Economy written by Victor A. Canto and published by Academic Press. This book was released on 2018-04-19 with total page 448 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic Disturbances and Equilibrium in an Integrated Global Economy: Investment Insights and Policy Analysis helps readers develop a framework for analyzing economic events and make better, more consistent decisions. Victor Canto presents the theoretical building blocks that make up the overall framework, then expands the framework to tackle more complex problems, applying additional considerations to actual policy or investment issues. Drawing upon the most recent trends in monetary policy and international economics, the book offers sustained direct engagement with the main research question and makes innovative use of the simple concepts of supply and demand to illuminate modern finance literature. The book succeeds by highlighting the often-forgotten interconnectedness of different economic processes. How do we respond to a change in policy or an economic shock? Are all the expected changes to the general equilibrium consistent with each other? Helps readers build an intellectual framework that enables them to interpret articles in the financial press and policy decisions in a logical and consistent manner Differs from other books by eschewing partial equilibria analyses and instead providing a general equilibrium perspective useful for investors and policy makers Provides supporting data on a freely-accessible website so readers can test and replicate results

Balance of Payments Textbook

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Publisher : International Monetary Fund
ISBN 13 : 1557755701
Total Pages : 159 pages
Book Rating : 4.5/5 (577 download)

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Book Synopsis Balance of Payments Textbook by : International Monetary Fund

Download or read book Balance of Payments Textbook written by International Monetary Fund and published by International Monetary Fund. This book was released on 1996-04-15 with total page 159 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Balance of Payments Textbook, like the Balance of Payments Compilation Guide, is a companion document to the fifth edition of the Balance of Payments Manual. The Textbook provides illustrative examples and applications of concepts, definitions, classifications, and conventions contained in the Manual and affords compilers with opportunities for enhancing their understanding of the relevant parts of the Manual. The Textbook is one of the main reference materials for training courses in balance of payments methodology.

Does What You Export Matter?

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Publisher : World Bank Publications
ISBN 13 : 0821384910
Total Pages : 153 pages
Book Rating : 4.8/5 (213 download)

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Book Synopsis Does What You Export Matter? by : Daniel Lederman

Download or read book Does What You Export Matter? written by Daniel Lederman and published by World Bank Publications. This book was released on 2012-06-18 with total page 153 pages. Available in PDF, EPUB and Kindle. Book excerpt: Does what economies export matter for development? If so, can industrial policies improve on the export basket generated by the market? This book approaches these questions from a variety of conceptual and policy viewpoints. Reviewing the theoretical arguments in favor of industrial policies, the authors first ask whether existing indicators allow policy makers to identify growth-promoting sectors with confidence. To this end, they assess, and ultimately cast doubt upon, the reliability of many popular indicators advocated by proponents of industrial policy. Second, and central to their critique, the authors document extraordinary differences in the performance of countries exporting seemingly identical products, be they natural resources or 'high-tech' goods. Further, they argue that globalization has so fragmented the production process that even talking about exported goods as opposed to tasks may be misleading. Reviewing evidence from history and from around the world, the authors conclude that policy makers should focus less on what is produced, and more on how it is produced. They analyze alternative approaches to picking winners but conclude by favoring 'horizontal-ish' policies--for instance, those that build human capital or foment innovation in existing and future products—that only incidentally favor some sectors over others.