国际经济学、国际贸易及国际金融常用英文专业词汇表.doc

Glossary Gnomes of Zurich Epithet coined by Britains chancellor of the Exchequor for the speculators he thought were abandoning the British pound and making it increasingly difficult to defend a pegged exchanged rate in the mid-1960s. The Snake in the Tunnel A scheme set up by members of the EEC in 1971 whereby each currency would float inside a specified band against every other member currency (the snake), and a maximum limit was set on the difference between the most appreciating and most depreciating currencies (the tunnel). This was a predecessor to the EMS. (Foreign) Exchange Rate The price of one countrys currency expressed in terms of another countrys currency. (Note that in this text, the exchange rate is expressed in terms of domestic currency units required to purchase one unit of foreign currency.) Absolute Advantage A nation has an absolute advantage in a commodity it produces more efficiently (with higher productivity) than the rest of the world. Adjustable Peg A system in which a country tries to keep its exchange rate fixed for long periods of time and only changes the pegged rate when there is a substantial disequilibrium at that rate. Adjustment assistance Government financial assistance to relocate and retrain workers (and firms) for re-employment in expanding sectors and away from sectors that are declining as a result of import competition. Ad Valorem Tariff A tariff is set as a percentage of the value of the goods when they reach the importing country. Aggregate Demand Policy Dilemma Refers to the difficulty of improving the levels of both national income and balance of payments by manipulating only the level of aggregate demand. Agricultural Policy Government tends to tax exportable-good agriculture and to subsidize (protect) importable-good agriculture. Antidumping Duty Tariffs sanctioned under the International Anti-Dumping Code (signed by most members of the WTO) to counteract or prevent dumping. Appreciation/Deprec