Exploring the methods to internalize external costs and benefits in decision-making, including historical context, key events, mathematical models, practical examples, and comparisons.
Explore the intricate dynamics of international trade, factor movements, capital flows, and the policies shaping global economic relations. Delve into key concepts, historical contexts, and significant events that define International Economics.
A comprehensive examination of involuntary unemployment, exploring its causes, types, key events, implications, models, and solutions.
A detailed exploration of Laissez-Faire, its principles, history, impact, and related concepts in economic theory.
An in-depth exploration of the Least Developed Countries (LDCs), their characteristics, historical context, key events, and importance in the global economy.
A comprehensive overview of Liberal Trade Policy, emphasizing its historical context, principles, implementation, benefits, and real-world examples.
Liberalization refers to the relaxation of government restrictions in economic policies, often accompanying privatization, to foster a more open and competitive market environment.
Liberalization refers to a programme of changes aiming to transition towards a free-market economy by reducing direct controls on transactions and relying more on the price mechanism to coordinate economic activities.
LISHU refers to the affiliation of a firm in China with the government at various administrative levels, encompassing both private and state-owned enterprises.
An in-depth exploration of the Louvre Accord, an agreement reached in February 1987 among the G6 industrial countries to stabilize exchange rates and foster economic cooperation.
Deep dive into Macroeconomic Policy, including its Definition, Types, Examples, Historical Context, and Related Terms.
An in-depth exploration of macroeconomic policy, including its objectives, types, tools, and significance in improving economic performance.
An in-depth exploration of the Macroeconomic Trilemma, its historical context, key events, and applicability in modern economics.
Make-Work Jobs: Jobs created solely to provide employment opportunities, without regard to the necessity or productivity of the work involved.
An in-depth look into managed currencies, where governments and central banks intervene in foreign exchange markets to influence the value of their national currency.
Market liberalization involves removing or loosening restrictions on businesses to promote competition and efficiency. Understanding the principles, types, and implications of market liberalization is essential for comprehending modern economic policies.
An in-depth look at how government-imposed laws control or supervise market practices, including definitions, types, historical context, applicability, and related terms.
An in-depth exploration of the Meade Review, a pivotal examination of the UK tax system chaired by Nobel Laureate James Meade, and its significant recommendations published in the 1978 Meade Report.
The Medium-Term Financial Strategy (MTFS) represents a policy framework implemented by the UK government in 1980 to control inflation through reductions in government borrowing and money supply growth.
Microeconomics analyses the choices of consumers and firms in various market situations. It explores how choices should be made and explains decisions, studying economic equilibrium and the impact of government policies on consumers and firms.
An in-depth look at minimum wage laws, historical context, variations by regions, and their economic and social implications.
An exchange rate inconsistent with a satisfactory balance of payments, resulting in economic imbalances such as unsustainable current account deficits or surpluses.
The Ministry of International Trade and Industry (MITI) was a significant entity in Japan’s economic planning and industrial policy from 1949 to 2001.
A comprehensive overview of monetary overhang, including its causes, effects, historical context, and implications in an economy with repressed inflation.
Monopoly Policy focuses on regulating firms with significant market power to ensure fair competition and efficient resource allocation.
An exploration of the concept of a moratorium, detailing its history, types, key events, importance, applicability, examples, related terms, and more.
Most Favoured Nation (MFN) is a status granting equal treatment to imports from the partner country, ensuring no less favourable treatment than that given to similar goods from other countries. This article delves into the historical context, key features, and significance of the MFN clause in international trade agreements.
An in-depth exploration of multilateralism, covering its historical context, types, key events, importance, applicability, and more.
An in-depth look at multilateralism, its historical context, key events, importance in international trade and capital movements, and its broad impact on global relations.
An in-depth look at the system by which a country's currency can have more than one exchange rate with any foreign currency, including historical context, types, key events, explanations, and practical implications.
A comprehensive guide on the National Bureau of Economic Research (NBER), a leading provider of high-quality economic analysis. Learn about its history, key research contributions, and its importance in shaping economic policies and business cycle theory.
An in-depth look at the National Economic Council in the United States and the United Kingdom, their historical contexts, functions, importance, and differences.
Comprehensive coverage on the concept of nationalization, its historical context, types, key events, detailed explanations, importance, applicability, examples, and more.
Understanding the Natural Rate of Unemployment within Keynesian Economics, including its historical context, types, key events, formulas, importance, applicability, examples, and much more.
An in-depth examination of Negative Income Tax, a proposal to combine income tax payments and social security benefits into a single, integrated system.
An in-depth look at the concept of the neutrality of money, its historical context, key theories, and implications in both the short and long run.
A comprehensive overview of the New International Economic Order (NIEO), its historical context, proposals, key events, importance, examples, considerations, and related terms.
An in-depth exploration of the revival of protectionism in economics, incorporating strategic considerations and the effects of increasing returns to scale in industry.
An exploration of Negative Income Tax (NIT), its historical context, principles, models, implications, and applications in economic policies.
Explore the concept of Nominal Protection, the proportional price increase in imported goods due to tariffs, in contrast with effective protection. This comprehensive article provides detailed explanations, historical context, types, key events, models, examples, related terms, and more.
The Non-Accelerating Inflation Rate of Unemployment (NAIRU) refers to the specific level of unemployment that stabilizes inflation. It is crucial in economic policy-making, influencing decisions on interest rates and fiscal policies.
Comprehensive overview of non-tariff barriers, including types, key events, regulations, and examples, along with charts, famous quotes, and FAQs.
Normative Economics concerns how the economy ought to be run, emphasizing efficiency and equity. This article explores historical context, types, key events, models, importance, and applicability.
An in-depth exploration of the North American Free Trade Agreement (NAFTA), its historical context, key events, impact, and more.
Official Financing refers to the adjustments made by a nation's authorities to address imbalances in the balance of payments, using measures like foreign exchange reserves or borrowing from international institutions.
Optimal Taxation refers to the structure of taxation that maximizes social welfare while meeting revenue targets and maintaining informational and incentive-compatibility constraints.
An examination of overfull employment in Keynesian economics, its causes, effects, and implications for inflation and economic policy.
An in-depth analysis of the use of multiple policy instruments by governments to minimize side-effects and mitigate uncertainties.
Control over wage rates as part of a prices and incomes policy, focusing on limiting increases or implementing a pay freeze.
An in-depth exploration of the Pension Crisis, its causes, consequences, and potential solutions within developed economies.
A comprehensive guide on physical nexus, its historical context, types, key events, importance, applicability, examples, and related terms.
A comprehensive exploration of policy instruments as mechanisms used by monetary or fiscal authorities to influence economic conditions. Covers historical context, types, key events, mathematical models, and real-world applicability.
Pork Barrel refers to government spending for localized projects secured primarily to bring money to a representative's district, often criticized for being motivated by political gain rather than public need.
Prescriptive Economics is a subfield of economics focused on determining and prescribing the objectives and outcomes that economic policy should aim to achieve.
An in-depth examination of price floors, their purpose in economic policy, applications, examples, and impacts on the market.
An objective of economic policy aimed at avoiding both prolonged inflation and deflation, maintaining a stable rate of increase or decrease in an aggregate price index within tolerable limits.
An in-depth exploration of the price-wage spiral, its historical context, key events, economic models, importance, applicability, examples, and related concepts.
The process of transferring ownership of a business, enterprise, agency, or public service from the public sector to the private sector.
A comprehensive exploration of pro-cyclical policies, their types, historical context, impact on economic fluctuations, and considerations.
Explores the concept of Procyclical Policy, its impact, types, examples, and historical context.
A comprehensive overview of the Progressive Tax System, including its historical context, types, key events, mathematical formulas, importance, applicability, examples, considerations, related terms, comparisons, interesting facts, famous quotes, FAQs, and references.
Proportional tax is a tax system where the tax rate remains consistent, regardless of the amount subject to taxation, ensuring that revenue collected rises proportionally with the taxable amount.
Public Choice theory emphasizes the motivations of bureaucrats and politicians in the analysis of economic policy, assuming they are economically rational and self-interested.
An in-depth exploration of the Public Sector Borrowing Requirement (PSBR), covering its definition, historical context, types, key events, explanations, formulas, importance, applicability, examples, related terms, comparisons, facts, quotes, FAQs, and more.
Government-funded projects aimed at improving public infrastructure.
A comprehensive guide to understanding Rate of Return Regulation, its historical context, methodologies, significance, and implications.
Rationing involves the controlled allocation of scarce resources and commodities, typically by government intervention, to ensure equity and efficiency. Common during wartime, rationing aims to prevent shortages but can lead to inefficiencies and increased consumption.
The policy combination of tight monetary policy to discourage inflation, and lax public finance to encourage real growth, implemented during Ronald Reagan's presidency.
A comprehensive exploration of reciprocal trade agreements, historical context, types, key events, importance, examples, related terms, comparisons, and more.
A regressive tax is a type of tax where the tax rate decreases as the taxpayer's income increases. This form of tax places a larger burden on low-income earners compared to high-income earners.
A comprehensive exploration of regressive taxes, their types, implications, and examples, including detailed explanations, historical context, and mathematical models.
An in-depth examination of rent regulation, its types, historical context, key events, and implications in the rental market.
A detailed explanation of Repressed Inflation, including its historical context, types, key events, mathematical models, and more.
HM Revenue and Customs (HMRC) is the UK government department responsible for the collection of taxes, National Insurance contributions, and customs duties, and for managing tax credits and child benefits. Formed in 2005 from a merger of the Board of Inland Revenue and the Board of Customs and Excise, HMRC plays a crucial role in ensuring the financial health of the nation.
A comprehensive look at revenue tariffs, their significance, historical context, types, and their role in government finance and economics.
A scenario is a set of assumptions on policy choices and the values of exogenous variables used to predict future developments in an economy. By varying these assumptions, alternative scenarios can be created to evaluate the effects of different policies and the robustness of conclusions to alternative values of exogenous variables.
Self-Regulation is a governance system where industries manage their own regulatory practices, balancing professional autonomy with accountability and public interests.
An in-depth exploration of the use of quantitative models to simulate economic behaviors and policy impacts.
A comprehensive overview of the Single European Act, a treaty aimed at establishing a single market within the European Union by 1992, including its historical context, key provisions, and impact.
An in-depth examination of the European Union's Single Market, covering its historical context, key events, legislative measures, and practical implications.
A Social Planner is a theoretical construct in economics, representing a benevolent decision-maker who aims to maximize social welfare or achieve Pareto efficiency.
An in-depth look at Sovereign Debt, its historical context, types, key events, models, importance, applicability, and more.
Special Economic Zones (SEZs) are designated areas within a country where economic regulations differ from those in other regions. They aim to attract business and investment by offering favorable conditions.
A specific tax is a tax levied as a fixed sum on each physical unit of the good taxed, regardless of its price. Unlike ad valorem taxes, specific taxes provide administrative ease but are subject to inflation erosion.
Stagflation is an economic condition marked by persistently high inflation coupled with high unemployment, posing a unique challenge to policymakers.
A detailed examination of State-Owned Companies, including their history, types, key events, importance, and applicability, along with examples, considerations, and related terms.
A comprehensive exploration of the stop--go cycle in Keynesian economics, focusing on its historical context, key events, and implications for economic stability.
A strategic trade policy is designed to affect the trade policies of other countries for mutual or national benefits.
Structural Unemployment occurs when changes in the economy create a mismatch between the skills workers have and the skills needed for available jobs.
Subsidization refers to financial assistance provided by the government or other organizations to reduce the cost of goods and services for the public, aiming to support economic stability, encourage consumption, and achieve various policy goals.
A comprehensive guide to understanding subsidized prices, their application, impact, and key distinctions from administered prices.
A detailed exploration of subsidies, including their historical context, types, key events, and applicability in modern economics.
A comprehensive guide to understanding subventions, their historical context, types, key events, importance, applicability, and related terminologies.
A comprehensive overview of supply-side policy, its historical context, types, key events, explanations, importance, applicability, examples, and related terms.
The attempt to bring down the value of an economic variable through persuasion by the authorities.
An in-depth exploration of TARGET as an objective in economic policy, its significance, types, and applications in achieving economic stability.
A comprehensive exploration of the concept of tax, its historical context, types, key events, mathematical models, importance, and applicability in modern economies.
An in-depth exploration of tax holidays, their historical context, types, importance, applications, and examples with references to key events, and detailed explanations.
Detailed exploration of government guidelines and regulations concerning taxation, including types, special considerations, historical context, and related terms.
A detailed exploration of the 1986 Tax Reform Act that reformed the US federal tax system, aiming to simplify the income tax code, broaden the tax base, and eliminate numerous tax shelters and preferences.
