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Optimum Currency Area
In economics, an optimum currency area (OCA) or optimal currency region (OCR) is a geographical region in which it would maximize economic efficiency to have the entire region share a single currency. The underlying theory describes the optimal characteristics for the merger of currencies or the creation of a new currency. The theory is used often to argue whether or not a certain region is ready to become a currency union, one of the final stages in economic integration. An optimal currency area is often larger than a country. For instance, part of the rationale behind the creation of the euro is that the individual countries of Europe do not each form an optimal currency area, but that Europe as a whole does. The creation of the euro is often cited because it provides the most modern and largest-scale case study of an attempt to identify an optimum currency area, and provides a comparative before-and-after model by which to test the principles of the theory. In theory, an optim ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economics
Economics () is a behavioral science that studies the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and services. Economics focuses on the behaviour and interactions of Agent (economics), economic agents and how economy, economies work. Microeconomics analyses what is viewed as basic elements within economy, economies, including individual agents and market (economics), markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyses economies as systems where production, distribution, consumption, savings, and Expenditure, investment expenditure interact; and the factors of production affecting them, such as: Labour (human activity), labour, Capital (economics), capital, Land (economics), land, and Entrepreneurship, enterprise, inflation, economic growth, and public policies that impact gloss ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pension
A pension (; ) is a fund into which amounts are paid regularly during an individual's working career, and from which periodic payments are made to support the person's retirement from work. A pension may be either a " defined benefit plan", where defined periodic payments are made in retirement and the sponsor of the scheme (e.g. the employer) must make further payments into the fund if necessary to support these defined retirement payments, or a " defined contribution plan", under which defined amounts are paid in during working life, and the retirement payments are whatever can be afforded from the fund. Pensions should not be confused with severance pay; the former is usually paid in regular amounts for life after retirement, while the latter is typically paid as a fixed amount after involuntary termination of employment before retirement. The terms " retirement plan" and " superannuation" tend to refer to a pension granted upon retirement of the individual; the terminolog ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Harvest Failure
Harvesting is the process of collecting plants, animals, or fish (as well as fungi) as food, especially the process of gathering mature crops, and "the harvest" also refers to the collected crops. Reaping is the cutting of grain or pulses for harvest, typically using a scythe, sickle, or reaper. On smaller farms with minimal mechanization, harvesting is the most labor-intensive activity of the growing season. On large mechanized farms, harvesting uses farm machinery, such as the combine harvester. Automation has increased the efficiency of both the seeding and harvesting processes. Specialized harvesting equipment, using conveyor belts for gentle gripping and mass transport, replaces the manual task of removing each seedling by hand. The term "harvesting" in general usage may include immediate postharvest handling, including cleaning, sorting, packing, and cooling. The completion of harvesting marks the end of the growing season, or the growing cycle for a particular crop ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Oxford University Press
Oxford University Press (OUP) is the publishing house of the University of Oxford. It is the largest university press in the world. Its first book was printed in Oxford in 1478, with the Press officially granted the legal right to print books by decree in 1586. It is the second-oldest university press after Cambridge University Press, which was founded in 1534. It is a department of the University of Oxford. It is governed by a group of 15 academics, the Delegates of the Press, appointed by the Vice Chancellor, vice-chancellor of the University of Oxford. The Delegates of the Press are led by the Secretary to the Delegates, who serves as OUP's chief executive and as its major representative on other university bodies. Oxford University Press has had a similar governance structure since the 17th century. The press is located on Walton Street, Oxford, Walton Street, Oxford, opposite Somerville College, Oxford, Somerville College, in the inner suburb of Jericho, Oxford, Jericho. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Equalization Payments In Canada
In Canada, the federal government makes equalization payments to provincial governments of lesser fiscal capacity so that "reasonably comparable" levels of public services can be provided at similar levels of taxation. Equalization payments are entrenched in the Constitution Act of 1982, subsection 36(2). The program is financed through the federal government's general revenues, which are largely sourced from federal taxes. In strict terms, provincial governments make no contributions. However, the provinces have ceded their legal exclusive right under the Constitution to certain fields of direct taxation (e.g. income tax), in whole or in part, to the federal government which provides the funding for equalization. Payment amounts are decided relative to a province's estimated fiscal capacity, or ability to generate tax revenues. A province that does not receive equalization payments is often referred to as a "have province", while one that does is called a "have-not province" ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Intereconomics
''Intereconomics – Review of European Economic Policy'' is a bimonthly journal covering economic and social policy issues in Europe or affecting Europe. The editor-in-chief An editor-in-chief (EIC), also known as lead editor or chief editor, is a publication's editorial leader who has final responsibility for its operations and policies. The editor-in-chief heads all departments of the organization and is held accoun ... is Dr. Nicole Waidlein. It is an official publication of the German National Library of Economics (ZBW) and the Centre for European Policy Studies. History and profile ''Intereconomics'' was established in 1966 at the Hamburg Institute of International Economics. In 2007, this institute was merged with the ZBW. In January 2009, the ZBW joined forces with the Centre for European Policy Studies, with the aim of making the magazine the leading forum for research-based discussions of major European economic policy issues. The journal consists of the editorial, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Debt
A country's gross government debt (also called public debt or sovereign debt) is the financial liabilities of the government sector. Changes in government debt over time reflect primarily borrowing due to past government deficits. A deficit occurs when a government's expenditures exceed revenues. Government debt may be owed to domestic residents, as well as to foreign residents. If owed to foreign residents, that quantity is included in the country's external debt. In 2020, the value of government debt worldwide was $87.4 US trillion, or 99% measured as a share of gross domestic product (GDP). Government debt accounted for almost 40% of all debt (which includes corporate and household debt), the highest share since the 1960s. The rise in government debt since 2007 is largely attributable to stimulus measures during the Great Recession, and the COVID-19 recession. Governments may take on debt when the government's spending desires do not match government revenue flows. Taking deb ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Eurozone Crisis
The euro area crisis, often also referred to as the eurozone crisis, European debt crisis, or European sovereign debt crisis, was a multi-year debt crisis and financial crisis in the European Union (EU) from 2009 until, in Greece, 2018. The eurozone member states of Greece, Portugal, Ireland, and Cyprus were unable to repay or refinance their government debt or to bailout fragile banks under their national supervision and needed assistance from other eurozone countries, the European Central Bank (ECB), and the International Monetary Fund (IMF). The crisis included the Greek government-debt crisis, the 2008–2014 Spanish financial crisis, the 2010–2014 Portuguese financial crisis, the post-2008 Irish banking crisis and the post-2008 Irish economic downturn, as well as the 2012–2013 Cypriot financial crisis. The crisis contributed to changes in leadership in Greece, Ireland, France, Italy, Portugal, Spain, Slovenia, Slovakia, Belgium, and the Netherlands as well as in t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stability And Growth Pact
The Stability and Growth Pact (SGP) is an agreement, among all the 27 member states of the European Union (EU), to facilitate and maintain the stability of the Economic and Monetary Union of the European Union, Economic and Monetary Union (EMU). Based primarily on :s:Consolidated version of the Treaty on the Functioning of the European Union/Title VIII: Economic and Monetary Policy#Article 121, Articles 121 and :s:Consolidated version of the Treaty on the Functioning of the European Union/Title VIII: Economic and Monetary Policy#Article 126, 126 of the Treaty on the Functioning of the European Union, it consists of fiscal monitoring of member states by the European Commission and the Council of the European Union, and the issuing of a yearly The European Semester#May, Country-Specific Recommendation for fiscal policy actions to ensure a full compliance with the SGP also in the medium-term. If a member state breaches the SGP's outlined maximum limit for government deficit and debt, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fiscal Federalism
As a subfield of public economics, fiscal federalism is concerned with "understanding which functions and instruments are best centralized and which are best placed in the sphere of decentralized levels of government" (Oates, 1999). In other words, it is the study of how competencies (expenditure side) and fiscal instruments (revenue side) are allocated across different (vertical) layers of the administration. An important part of its subject matter is the system of transfer payments or grants by which a central government shares its revenues with lower levels of government. Federal governments use this power to enforce national rules and standards. There are two primary types of transfers, conditional and unconditional. A conditional transfer from a federal body to a province, or other territory, involves a certain set of conditions. If the lower level of government is to receive this type of transfer, it must agree to the spending instructions of the federal government. An exam ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Supply And Demand
In microeconomics, supply and demand is an economic model of price determination in a Market (economics), market. It postulates that, Ceteris_paribus#Applications, holding all else equal, the unit price for a particular Good (economics), good or other traded item in a perfect competition, perfectly competitive market, will vary until it settles at the market clearing, market-clearing price, where the quantity demanded equals the quantity supplied such that an economic equilibrium is achieved for price and quantity transacted. The concept of supply and demand forms the theoretical basis of modern economics. In situations where a firm has market power, its decision on how much output to bring to market influences the market price, in violation of perfect competition. There, a more complicated model should be used; for example, an oligopoly or product differentiation, differentiated-product model. Likewise, where a buyer has market power, models such as monopsony will be more a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Market (economics)
In economics, a market is a composition of systems, institutions, procedures, social relations or infrastructures whereby parties engage in Exchange (economics), exchange. While parties may exchange goods and services by barter, most markets rely on sellers offering their goods or services (including labour power) to buyers in exchange for money. It can be said that a market is the process by which the value of goods and services are established. Markets facilitate trade and enable the distribution and allocation of resources in a society. Markets allow any tradeable item to be evaluated and priced. A market emergence, emerges more or less spontaneous order, spontaneously or may be constructed deliberately by human interaction in order to enable the exchange of rights (cf. ownership) of services and goods. Markets generally supplant Gift economy, gift economies and are often held in place through rules and customs, such as a booth fee, competitive pricing, and source of goods for ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
