econlife on ‘International Trade and Finance’

First explained by David Ricardo through comparative advantage, international trade and finance expands worldwide efficiency and productivity. Econlife looks at international trade to see its impact through goods and services, trade balances, trade barriers like tariffs and quotas and subsidies.

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    Outsourcing and Immigration

    Nov 4, 10 • 107 Views • Businesses, Demand, Supply, and Markets, Developing Economies, International Trade and Finance, LaborNo Comments

    A recent economics paper provides a surprising solution to those who believe outsourcing is a problem. The story, as explained by George Mason economist Tyler Cowen, involves the connection between offshore jobs and immigration. Traditionally, economists say...

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    The PIIG’s Progress

    Nov 3, 10 • 108 Views • Economic Debates, Government, International Trade and Finance, Macroeconomic MeasurementNo Comments

    Almost everyone seems to be debating the same issues. Spend less, tax more, or both? Now perhaps Portugal has made some progress. Hoping to bring its budget deficit down to 4.6% of GDP in 2011, their VAT will ascend to 23%. But will they cut public sector pay...

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    Chinese Big Macs

    Oct 21, 10 • 114 Views • International Trade and FinanceNo Comments

    At 14.5 yuan or $2.18, a Beijing Big Mac is cheap. In the U.S. the price is closer to $3.71. As explained by The Economist, we just need to know about the Big Mac to know what the yuan should really buy. Dividing $3.71 (a US Mac) by 14.5 yuan (Chinese Macs)...

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    Nobel Cash

    Oct 15, 10 • 103 Views • Economic History, Economic Thinkers, Financial Markets, International Trade and FinanceNo Comments

    If you win a Nobel Prize, you get a cash prize of approximately $1.5 million. The size of that prize relates to how well the foundation that manages Alfred Nobel’s endowment has fared.  According to the Financial Times, during the 1990s the payout...

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    China’s Market

    Oct 13, 10 • 127 Views • Developing Economies, Economic Debates, International Trade and FinanceNo Comments

    Sort of like jumbo shrimp and a working vacation, we could say that an authoritarian market is an oxymoron.The chief economist of the World Bank, Justin Yifu Lin, would disagree. As described in a recent New Yorker Magazine profile, Dr. Lin has an unusual...