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Lerner Symmetry Theorem
The Lerner symmetry theorem is a result used in international trade theory, which states that an ad valorem import tariff (a percentage of value or an amount per unit) will have the same effects as an export tax. The theorem is based on the observation that the effect on relative prices is the same regardless of which policy (ad valorem tariffs or export taxes) is applied. The theorem was developed by economist Abba P. Lerner in 1936.Jagdish N. Bhagwati, Arvind Panagariya, and T. N. Srinivasan T. N. Srinivasan, in full Thirukodikaval Nilakanta Srinivasan (27 March 1933 – 11 November 2018), was an Indian economist who had taught and worked in the United States. He was the Professor#Retired faculty 2, Emeritus Samuel C. Park, Jr. Prof ..., 1998 ''Lectures On International Trade'', 2nd Edition, MIT PressDescriptionand ch. 12, sect. 12-6, Lerner Symmetry Theorem, scrollable preview, pp215-19./ref> Notes References Economics theorems {{econ-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Trade
International trade is the exchange of capital, goods, and services across international borders or territories because there is a need or want of goods or services. (see: World economy) In most countries, such trade represents a significant share of gross domestic product (GDP). While international trade has existed throughout history (for example Uttarapatha, Silk Road, Amber Road, scramble for Africa, Atlantic slave trade, salt roads), its economic, social, and political importance has been on the rise in recent centuries. Carrying out trade at an international level is a complex process when compared to domestic trade. When trade takes place between two or more states factors like currency, government policies, economy, judicial system, laws, and markets influence trade. To ease and justify the process of trade between countries of different economic standing in the modern era, some international economic organizations were formed, such as the World Trade Organization ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ad Valorem Tax
An ''ad valorem'' tax (Latin for "according to value") is a tax whose amount is based on the value of a transaction or of property. It is typically imposed at the time of a transaction, as in the case of a sales tax or value-added tax (VAT). An ''ad valorem'' tax may also be imposed annually, as in the case of a real or personal property tax, or in connection with another significant event (e.g. inheritance tax, expatriation tax, or tariff). In some countries, a stamp duty is imposed as an ''ad valorem'' tax. Operation All ad valorem taxes are collected according to the determined value of the taxed item. In the most common application of ad valorem taxes, namely municipal property taxes, public tax assessors regularly assess the property owner's real estate in order to determine its current value. The determined value of the property is used to calculate the annual tax collected by the municipality or any other government entity upon the property owner. Ad valorem taxes are ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Import Tariff
A tariff is a tax imposed by the government of a country or by a supranational union on imports or exports of goods. Besides being a source of revenue for the government, import duties can also be a form of regulation of foreign trade and policy that taxes foreign products to encourage or safeguard domestic industry. ''Protective tariffs'' are among the most widely used instruments of protectionism, along with import quotas and export quotas and other non-tariff barriers to trade. Tariffs can be fixed (a constant sum per unit of imported goods or a percentage of the price) or variable (the amount varies according to the price). Taxing imports means people are less likely to buy them as they become more expensive. The intention is that they buy local products instead, boosting their country's economy. Tariffs therefore provide an incentive to develop production and replace imports with domestic products. Tariffs are meant to reduce pressure from foreign competition and reduce the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Abba P
ABBA ( , , formerly named Björn & Benny, Agnetha & Anni-Frid or Björn & Benny, Agnetha & Frida) are a Swedish supergroup formed in Stockholm in 1972 by Agnetha Fältskog, Björn Ulvaeus, Benny Andersson, and Anni-Frid Lyngstad. The group's name is an acronym of the first letters of their first names arranged as a palindrome. One of the most popular and successful musical groups of all time, they became one of the best-selling music acts in the history of popular music, topping the charts worldwide from 1974 to 1982, and in 2022. In 1974, ABBA were Sweden's first winner of the Eurovision Song Contest with the song " Waterloo," which in 2005 was chosen as the best song in the competition's history as part of the 50th anniversary celebration of the contest. During the band's main active years, it consisted of two married couples: Fältskog and Ulvaeus, and Lyngstad and Andersson. With the increase of their popularity, their personal lives suffered, which eventually resulted i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jagdish N
Jagdish is a given name. Notable people with the given name include: *Jagdish Bishnoi Rotoo, Raj.India (dob-20-07-1993) *Jagdish Bhagwati (born 1934), Indian-born American economist * Jagdish Bhola, Indian wrestler * Jagdish Bishnoi (born 1972), Indian javelin thrower *Jagdish Capoor, Indian banker *Jagdish Chandra Mahindra (c. 1892–1951), Indian industrialist *Jagdish Chandra Jain (1909–1993), Indian scholar * Jagdish Chaturvedi (born 1984), Indian stand-up comedian *Jagdish Gupt (1924–2001), Indian poet * Jagdish Joshi (1937-2016), Indian children's book illustrator * Jagdish Khattar, Indian businessman *Jagdish Khebudkar (1932–2011), Indian musician * Jagdish Khubchandani Indian-born American researcher *Jagdish Koonjul, Mauritian diplomat * Jagdish Lal (1920–1997), Indian cricketer *Jagdish Mali (1954–2013), Indian fashion and film photographer *Jagdish Mukhi (born 1942), Indian politician *Jagdish Nehra, Indian politician *Jagdish Patel, Indian politician *Jagdish Pi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Arvind Panagariya
Arvind Panagariya (born 30 September 1952) is an Indian-American economist who is the Jagdish Bhagwati Professor of Indian Political Economy at Columbia University and is also the Director of Deepak and Neera Raj Center on Indian Economic Policies at School of International and Public Affairs at Columbia University in New York City. He served as first vice-chairman of the government of India think-tank NITI Aayog between January 2015 and August 2017. He is a former Chief Economist of the Asian Development Bank. He was awarded the Padma Bhushan by the President of India in 2012 for his contributions in the field of economics and Public Policy. He is an authority on free trade and widely regarded as the foremost expert in the world on Indian economy. He is the brother of noted neurologist and medical researcher Dr. Ashok Panagariya. Career He holds a Ph.D in economics from Princeton University under the doctoral supervision of Peter Kenen and William Hoban Branson He was the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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