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40 relations: Balassa–Samuelson effect, Big Mac Index, Bretton Woods system, Cairo, Central bank, Ceteris paribus, Cliometrics, Consumer price index, Econometrics, Economic efficiency, Economy, Egypt, Exchange rate, First World, Floating exchange rate, General equilibrium theory, Gold, Gross domestic product, Income, India, Japanese yen, Law of one price, Neoclassical economics, New York City, Norway, Open economy, Oslo, Paul Samuelson, Penn World Table, Purchasing power parity, Standard of living, Subsistence economy, The Economist, Third World, Tokyo, Tradability, United States dollar, University of Houston, University of Pennsylvania, World War II.
Balassa–Samuelson effect
The Balassa–Samuelson effect, also known as Harrod–Balassa–Samuelson effect (Kravis and Lipsey 1983), the Ricardo–Viner–Harrod–Balassa–Samuelson–Penn–Bhagwati effect (Samuelson 1994, p. 201), or productivity biased purchasing power parity (PPP) (Officer 1976) is the tendency for consumer prices to be systematically higher in more developed countries than in less developed countries.
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Big Mac Index
The Big Mac Index is published by The Economist as an informal way of measuring the purchasing power parity (PPP) between two currencies and provides a test of the extent to which market exchange rates result in goods costing the same in different countries.
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Bretton Woods system
The Bretton Woods system of monetary management established the rules for commercial and financial relations among the United States, Canada, Western Europe, Australia, and Japan after the 1944 Bretton-Woods Agreement.
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Cairo
Cairo (القاهرة) is the capital of Egypt.
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Central bank
A central bank, reserve bank, or monetary authority is an institution that manages a state's currency, money supply, and interest rates.
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Ceteris paribus
Ceteris paribus or caeteris paribus is a Latin phrase meaning "other things equal".
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Cliometrics
Cliometrics, sometimes called new economic history, or econometric history, is the systematic application of economic theory, econometric techniques, and other formal or mathematical methods to the study of history (especially social and economic history).
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Consumer price index
A consumer price index (CPI) measures changes in the price level of of and purchased by households.
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Econometrics
Econometrics is the application of statistical methods to economic data and is described as the branch of economics that aims to give empirical content to economic relations.
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Economic efficiency
Economic efficiency is, roughly speaking, a situation in which nothing can be improved without something else being hurt.
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Economy
An economy (from Greek οίκος – "household" and νέμoμαι – "manage") is an area of the production, distribution, or trade, and consumption of goods and services by different agents.
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Egypt
Egypt (مِصر, مَصر, Khēmi), officially the Arab Republic of Egypt, is a transcontinental country spanning the northeast corner of Africa and southwest corner of Asia by a land bridge formed by the Sinai Peninsula.
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Exchange rate
In finance, an exchange rate is the rate at which one currency will be exchanged for another.
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First World
The concept of First World originated during the Cold War and included countries that were generally aligned with NATO and opposed to the Soviet Union during the Cold War.
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Floating exchange rate
A floating exchange rate (also called a fluctuating or flexible exchange rate) is a type of exchange-rate regime in which a currency's value is allowed to fluctuate in response to foreign-exchange market mechanisms.
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General equilibrium theory
In economics, general equilibrium theory attempts to explain the behavior of supply, demand, and prices in a whole economy with several or many interacting markets, by seeking to prove that the interaction of demand and supply will result in an overall general equilibrium.
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Gold
Gold is a chemical element with symbol Au (from aurum) and atomic number 79, making it one of the higher atomic number elements that occur naturally.
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Gross domestic product
Gross domestic product (GDP) is a monetary measure of the market value of all final goods and services produced in a period (quarterly or yearly) of time.
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Income
Income is the consumption and savings opportunity gained by an entity within a specified timeframe, which is generally expressed in monetary terms.
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India
India (IAST), also called the Republic of India (IAST), is a country in South Asia.
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Japanese yen
The is the official currency of Japan.
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Law of one price
"The law of one price (LOOP) states that in the absence of trade frictions (such as transport costs and tariffs), and under conditions of free competition and price flexibility (where no individual sellers or buyers have power to manipulate prices and prices can freely adjust), identical goods sold in different locations must sell for the same price when prices are expressed in a common currency.
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Neoclassical economics
Neoclassical economics is an approach to economics focusing on the determination of goods, outputs, and income distributions in markets through supply and demand.
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New York City
The City of New York, often called New York City (NYC) or simply New York, is the most populous city in the United States.
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Norway
Norway (Norwegian: (Bokmål) or (Nynorsk); Norga), officially the Kingdom of Norway, is a unitary sovereign state whose territory comprises the western portion of the Scandinavian Peninsula plus the remote island of Jan Mayen and the archipelago of Svalbard.
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Open economy
An open economy is an economy in which there are economic activities between the domestic community and outside.
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Oslo
Oslo (rarely) is the capital and most populous city of Norway.
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Paul Samuelson
Paul Anthony Samuelson (15 May 1915 – 13 December 2009) was an American economist and the first American to win the Nobel Memorial Prize in Economic Sciences.
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Penn World Table
The Penn World Table (PWT) is a set of national-accounts data developed and maintained by scholars at the University of California, Davis and the of the University of Groningen to measure real GDP across countries and over time.
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Purchasing power parity
Purchasing power parity (PPP) is a neoclassical economic theory that states that the exchange rate between two countries is equal to the ratio of the currencies' respective purchasing power.
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Standard of living
Standard of living refers to the level of wealth, comfort, material goods, and necessities available to a certain socioeconomic class in a certain geographic area, usually a country.
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Subsistence economy
A subsistence economy is a non-monetary economy which relies on natural resources to provide for basic needs, through hunting, gathering, and subsistence agriculture.
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The Economist
The Economist is an English-language weekly magazine-format newspaper owned by the Economist Group and edited at offices in London.
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Third World
The term "Third World" arose during the Cold War to define countries that remained non-aligned with either NATO or the Communist Bloc.
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Tokyo
, officially, is one of the 47 prefectures of Japan and has been the capital since 1869.
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Tradability
Tradability is the property of a good or service that can be sold in another location distant from where it was produced.
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United States dollar
The United States dollar (sign: $; code: USD; also abbreviated US$ and referred to as the dollar, U.S. dollar, or American dollar) is the official currency of the United States and its insular territories per the United States Constitution since 1792.
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University of Houston
The University of Houston (UH) is a state research university and the flagship institution of the University of Houston System.
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University of Pennsylvania
The University of Pennsylvania (commonly known as Penn or UPenn) is a private Ivy League research university located in University City section of West Philadelphia.
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World War II
World War II (often abbreviated to WWII or WW2), also known as the Second World War, was a global war that lasted from 1939 to 1945, although conflicts reflecting the ideological clash between what would become the Allied and Axis blocs began earlier.
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High wage economy, High-wage economy, Low wage economy, Low-wage economies, Low-wage economy.
References
[1] https://en.wikipedia.org/wiki/Penn_effect
