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  2. International economics - Wikipedia

    en.wikipedia.org/wiki/International_economics

    International economics is concerned with the effects upon economic activity from international differences in productive resources and consumer preferences and the international institutions that affect them. It seeks to explain the patterns and consequences of transactions and interactions between the inhabitants of different countries ...

  3. International trade theory - Wikipedia

    en.wikipedia.org/wiki/International_trade_theory

    International trade theory is a sub-field of economics which analyzes the patterns of international trade, its origins, and its welfare implications. International trade policy has been highly controversial since the 18th century. International trade theory and economics itself have developed as means to evaluate the effects of trade policies.

  4. Balance of payments - Wikipedia

    en.wikipedia.org/wiki/Balance_of_payments

    Country foreign exchange reserves minus external debt. In international economics, the balance of payments (also known as balance of international payments and abbreviated BOP or BoP) of a country is the difference between all money flowing into the country in a particular period of time (e.g., a quarter or a year) and the outflow of money to the rest of the world.

  5. Kennedy Round - Wikipedia

    en.wikipedia.org/wiki/Kennedy_Round

    The Kennedy Round officially opened on May 4, 1964, at the Palais des Nations.It was the last GATT round to have tariff reduction as its primary focus. [8] However, it was the first GATT round to deal with non-tariff issues, such as dumping, a practice whereby a company exports a product at a price lower than the price it charges in its home market. [9]

  6. Iceberg transport cost model - Wikipedia

    en.wikipedia.org/wiki/Iceberg_Transport_Cost_Model

    It relates transport costs linearly with distance, and pays these costs by extracting from the arriving volume. The model is attributed to Paul Samuelson's 1954 article in Deardorffs' Glossary of International Economics. [1] Paul Krugman's 1991 paper on Economic Geography [2] is one of the more widely cited papers employing the model.

  7. Redundancy problem - Wikipedia

    en.wikipedia.org/wiki/Redundancy_problem

    In international finance, the redundancy problem, also known as the n − 1 problem, is a problem of inequality of the number of policy instruments and the number of targets at the international level, [1] suggested by Robert Mundell in Robert Mundell (1969). [2] [3] This problem does not occur at the one-country level. [2]

  8. Heckscher–Ohlin theorem - Wikipedia

    en.wikipedia.org/wiki/Heckscher–Ohlin_theorem

    The Leontief paradox, presented by Wassily Leontief in 1951, [1] found that the U.S. (the most capital-abundant country in the world by any criterion) exported labor-intensive commodities and imported capital-intensive commodities, in apparent contradiction with the Heckscher–Ohlin theorem. However, if labor is separated into two distinct ...

  9. Gains from trade - Wikipedia

    en.wikipedia.org/wiki/Gains_from_trade

    In economics, gains from trade are the net benefits to economic agents from being allowed an increase in voluntary trading with each other. In technical terms, they are the increase of consumer surplus [ 1 ] plus producer surplus [ 2 ] from lower tariffs [ 3 ] or otherwise liberalizing trade .