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A measure of the extent to which two economic or statistical variables move up and down together. For two variables ''x'' and ''y'' with values ''x<sub>i</sub>'', ''y<sub>i</sub>'', ''i=''1,…,''n'', the covariance is cov(''x'',''y'') = ''<sub>i''=1…''n</sub>''(''x<sub>i</sub>''-m(''x''))(''y<sub>i</sub>''-m(''y'')), where m(•) is the mean of the values in its argument.
Industry:Economy
A measure of the presence of nontariff barriers, defined as the value of imports subject to one or a group of NTBs, divided by the total value of imports. Contrasts with frequency ratio and tariff equivalent.
Industry:Economy
A combination of transactions on two countries' securities and exchange markets designed to profit from failure of covered interest parity. A typical set of transactions would include selling bonds in one market, using the proceeds to buy spot foreign currency and foreign bonds, and selling forward the return at a future date. See also one-way arbitrage.
Industry:Economy
1. Recorded as positive (+) in the balance of payments, any transaction that gives rise to a payment ''into'' the country, such as an export, the sale of an asset (including official reserves), or borrowing from abroad. Opposite of debit. 2. A loan. For example, a trade credit.
Industry:Economy
A shortage of available loans. In well-functioning markets, this would simply mean a rise in interest rates, but in practice it often means that some borrowers cannot get loans at all, a situation of credit rationing.
Industry:Economy
A country whose assets owned abroad are worth more than the assets within the country that are owned by foreigners. Contrasts with debtor nation.
Industry:Economy
1. An elasticity that has been ignored by a student in a problem set. 2. The elasticity of supply or demand for one good or service with respect to the price of another.
Industry:Economy
1. The exchange rate between two currencies as implied by their values with respect to a third currency. 2. Thus, since most currencies are commonly quoted in U. S. Dollars, the exchange rate between any two currencies other than the dollar.
Industry:Economy
1. In an anti-dumping case against imports from more than one country, the summation of these imports for the purpose of determining injury. That is, the imports are deemed to have caused injury if all of them together could have done so, even if individually they would not. 2. In overlapping free trade areas, a provision that allows inputs from one FTA to qualify as originating under another FTA's rules of origin.
Industry:Economy
1. The money used by a country; e.g., the national currency of Japan is the yen. 2. The physical embodiment of money, in the forms of paper bills or notes, and metal coins.
Industry:Economy
