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An account in a bank or other financial institution that pays interest to the depositor.
Industry:Economy
A tax levied between 1963 and 1974 by the United States of 15% on interest received from foreign borrowers, intended to discourage capital outflows.
Industry:Economy
A target level for domestic aggregate economic activity, such as a level of GDP that minimizes unemployment without being inflationary. See the assignment problem. Contrasts with external balance.
Industry:Economy
A way of quantifying the stream over time of returns on an investment relative to its cost. Defined as the interest rate at which the present value of the returns equals the cost.
Industry:Economy
1. Any mechanism for change in international markets. 2. The mechanism by which payments imbalances diminish under pegged exchange rates and nonsterilization. Similar to the specie flow mechanism, exchange-market intervention causes money supplies of surplus countries to expand and vice versa, leading to price and interest rate changes that correct the current and capital account imbalances.
Industry:Economy
An agreement among producing and consuming countries to improve the functioning of the global market for a commodity. May be administrative, providing information, or economic, influencing world price, usually using a buffer stock to stabilize it. ICAs are overseen by UNCTAD.
Industry:Economy
A program currently coordinated by the World Bank to gather extensive information about prices in many countries so as to ascertain the purchasing power of their currencies and thus permit international comparisons of real incomes.
Industry:Economy
A network for cooperation among the antitrust agencies of a large number of both developed and developing countries.
Industry:Economy
An association of governments dealing with cotton. It grew out of an International Cotton Meeting in 1939. See international commodity agreement.
Industry:Economy
A set of accounting standards set by the International Accounting Standards Board and required for use throughout Europe and parts of Asia, Africa and Latin America. Other countries have committed to adopt or converge toward these standards, and the United States permits non-US companies to report under them, although US companies use the Generally Accepted Accounting Priciples.
Industry:Economy
