Salvatore
bgloss.tex
V1 - 10/03/2012
7:25 P.M.
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Glossary of Key Terms
Super gold tranche
The amount by which the IMF’s holdings
of a nation’s currency are below 75 percent of the nation’s
quota, which the nation could borrow from the Fund without
the need to repay.
Supply of money
The nation’s total money supply is equal to
the nation’s monetary base times the money multiplier.
Surplus in the balance of payments
The excess of credits over
debits in the current and capital accounts, or autonomous trans-
actions; equal to the net
debit balance in the official reserve
account, or accommodating transactions.
Swap arrangements
The arrangements under which national
central banks negotiate to exchange each other’s currency to
be used to intervene in foreign exchange markets to combat
international hot money flows.
Synthesis of automatic adjustments
The attempt to integrate
the automatic price, income, and monetary adjustments to cor-
rect balance-of-payments disequilibria.
T
Tariff factories
Direct investments made in a nation or other
economic unit (such as a customs union) to avoid import tar-
iffs.
Technical, administrative, and other regulations
Nontariff
trade barriers such as safety, health, and labeling requirements,
and border taxes.
Technological gap model
The hypothesis that a portion of
international trade is based on the introduction of new products
or processes.
Terms of trade
The ratio of the index price of a nation’s export
to its import commodities.
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