International economics

International economics

International trade theories, policies, finances and their effects on economic activities.

Industry: Economy

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International economics

near money

Economy; International economics

A financial asset with many of the properties of money, but not all. Savings deposits and foreign currency deposits, for example, are very liquid but cannot be used directly for transactions.

necessity test

Economy; International economics

A procedure to determine whether a trade restriction intended to serve some purpose is necessary for that purpose.

A harmful externality; that is, a harmful effect of one economic agent's actions on another. Considered a distortion because the first agent has inadequate incentive to curtail the action. Examples ...

negative growth

Economy; International economics

A decline in size over time, said of an economy's GDP in recession or of the size of a declining firm or industry. Seems like a euphemism, except that no obvious alternative term suggests itself. ...

neighborhood production structure

Economy; International economics

A structure of technology for a general equilibrium model due to Jones and Kierzkowski (1986). With an arbitrary but equal number of goods and factors, each factor produces two (different) goods, ...

Neoclassical

Economy; International economics

A collection of assumptions customarily made by mainstream economists starting in the late 19th century, including profit maximization by firms, utility maximization by consumers, and market ...

Neoclassical growth model

Economy; International economics

A model of economic growth in which income arises from neoclassical production functions in one or more sectors, displaying diminishing returns to saving and capital accumulation. Due to Solow (1956) ...