- Industry: Education
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1. The failure of an economic variable to return to its initial equilibrium after a temporary shock. For example, an industry or trade flow might disappear due to an exchange rate change, then not reappear after the change is reversed. 2. A time lag between a cause and an effect. (Though this seems to be the more standard dictionary definition, economists seem to prefer definition 1. )
Industry:Economy
A cost of transporting a good that uses up only some fraction of the good itself, rather than using any other resources. Based on the idea of floating an iceberg, which is costless except for the amount of the iceberg itself that melts. It is a very tractable way of modeling transport costs since it impacts no other market. Due to Samuelson (1954).
Industry:Economy
1. Any departure from equality. 2. In the balance of payments, any surplus or deficit.
Industry:Economy
A broad measure of prices derived from separate estimates of real and nominal expenditures for GDP or a subcategory of GDP. Without qualification the term refers to the GDP deflator and is thus an index of prices for everything that a country produces, unlike the CPI, which is restricted to consumption and includes prices of imports.
Industry:Economy
1. Tariff revenue on a good or group of goods, divided by the corresponding value of imports. Often lower than the official or statutory tariff, due both to PTAs and to failures in customs collection. 2. The difference between the price just inside a border and the price just outside it, especially in the case of a good protected by an import quota.
Industry:Economy
1. A good that crosses into a country, across its border, for commercial purposes. 2. A product, which might be a service, that is provided to domestic residents by a foreign producer. 3. To cause a good or service to be an import under definitions 1 and/or 2.
Industry:Economy
1. Any bias in favor of importing. 2. Applied to growth, it tends to mean a bias ''against'' importing, and against trading more generally. Thus growth that is based disproportionately on accumulation of the factor used intensively in the import-competing industry and/or technological progress favoring that industry.
Industry:Economy
A requirement that importers put some amount of money in an account for some period of time. The purpose may be to assure that import duties will be paid, if they apply (as in the case of a tourist bringing in a car), or the deposit may simply be a nontariff barrier intended to discourage imports.
Industry:Economy
A practice introduced by the US, first for steel and later for textiles and apparel, whereby the Department of Commerce records the volume of imports of specified products in order to make these data publicly available earlier than would otherwise be possible. Implicitly, these procedures are intended to facilitate faster administered protection.
Industry:Economy
