- Industry: Education
- Number of terms: 31274
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1. In exchange markets, this is a simultaneous sale of a currency on the spot market together with a purchase of the same amount on the forward market. By combining these two transactions into a single one, transactions costs may be reduced. 2. An arrangement between central banks whereby they each agree to lend their currency to the other.
Industry:Economy
A manufacturing workplace that treats its workers inhumanely, paying low wages, imposing harsh and unsafe working conditions, and demanding levels of performance that are harmful to the workers.
Industry:Economy
A formula devised during the Tokyo Round for reducing tariffs in a manner that would harmonize them. The formula is ''t<sub>new</sub>''=(''t<sub>old</sub>M'')/(''t<sub>old</sub>+M''), where the ''t'''s are the new and old tariffs, in percent, and ''M'' is a number that turns out to be the maximum possible new tariff. Somebody, presumably Swiss, was very clever!
Industry:Economy
1. Any objective of economic policy. 2. The value of an economic variable that policy makers regard as ideal and use as the basis for setting policy. Contrasts with instrument. 3. The level of an exchange rate that guides exchange market intervention by a central bank or exchange stabilization fund.
Industry:Economy
A tax on trade, usually an import tariff but sometimes used to denote an export tax. Tariffs may be ad valorem or specific.
Industry:Economy
A commitment, under the GATT, by a country not to raise the tariff on an item above a specified level, called the bound rate or bound tariff.
Industry:Economy
A production facility established by a foreign firm through FDI in a country in spite of its higher production costs, in order to serve its market without paying a tariff.
Industry:Economy
A lower (or zero) tariff on a product from one country than is applied to imports from most countries. This violation of the MFN principle is permitted in special cases, including some preferential trade arrangements and the GSP.
Industry:Economy
A combination of an import tariff and an import quota in which imports below a specified quantity enter at a low (or zero) tariff and imports above that quantity enter at a higher tariff. Also called a tariff quota.
Industry:Economy
