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A group of countries that share a common currency. Originally defined by Mundell (1961) as a group that have fixed exchange rates among their national currencies.
Industry:Economy
A group of two or more currencies that may be used as a unit of account, or to which another currency may be pegged.
Industry:Economy
1. A group of countries that share a common currency; a currency area. 2. A group of countries that peg their different national currencies to a single currency.
Industry:Economy
A country's international transactions arising from current flows, as opposed to changes in stocks which are part of the capital account. Includes trade in goods and services (including payments of interest and dividends on capital) plus inflows and outflows of transfers.
Industry:Economy
A geographic area that is responsible for levying its own customs duties at its border.
Industry:Economy
1. The category defining the tariff to be applied to an imported good. 2. The act of determining this category, which may be subject to various rules and/or to the discretion of the customs officer.
Industry:Economy
A written statement by an importer or traveler of the dutiable imports that they are bringing into a country.
Industry:Economy
A group of countries that adopt free trade (zero tariffs and no other restrictions on trade) on trade among themselves, and that also, on each product, agree to levy the same tariff on imports from outside the group. Equivalent to an FTA plus a common external tariff.
Industry:Economy
A legal term for an amount that is small enough to be ignored, too small to be taken seriously. Used to restrict legal provisions, including laws regarding international trade, to amounts of activity or trade that are not trivially small.
Industry:Economy
