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1. Literally, a farmer who produces mostly only for the consumption of the farmer's own household. 2. The term also seems to be used for farmers who grow a crop to sell, but whose income from doing so barely allows them to survive. When trade or trade policy is said to hurt subsistence farmers, it must be under this definition.
Industry:Economy
A large negative swing in capital inflows, such as emerging markets especially may be subject to if they have financed current account deficits with short term borrowing. Term is due to Calvo (1998).
Industry:Economy
A cost that has already been incurred and cannot be reversed, which therefore cannot be avoided by current or future action. Sunk costs should therefore be irrelevant to current decisions.
Industry:Economy
A provision within a piece of legislation providing for its expiration on a specified date unless it is deliberately renewed.
Industry:Economy
A U. S. Law authorizing USTR to identify the most significant unfair trade practices confronting U. S. Exports and to seek to eliminate them. In contrast to Section 301, this does not require a private party to initiate the action.
Industry:Economy
A trading bloc among countries that are natural trading partners but that, because its tariff preferences are too extreme or transport costs with the outside world are too low, reduces world welfare. Due to Frankel (1997).
Industry:Economy
1. The act of offering a product for sale. 2. The quantity offered for sale. 3. The quantities offered for sale at various prices; the supply curve.
Industry:Economy
A shock on the supply side of a market. Thus an unexpected shift, up or down, in the supply curve.
Industry:Economy
A diagram illustrating the conflict between internal balance and external balance as they respond to its fiscal deficit and its costs relative to the world (and thus its exchange rate. ) Due to Swan (1955).
Industry:Economy
