Production controls, 232-233 Production gains from specialization, 35 Production possibilities schedule, 33 Production sharing, 108-11 0 Protection-biased sector, 133
Protective effect, 115
Protective tariff, 102
Purchasing-power-parity approach, 376-377, 379-381 Put option, 349
Q
Quantity theory of money, 401-402
Quota licenses, 143
Quotas versus tariffs, 144-147, 172-173
R
Real exchange rate, 354-355
Real exchange rate index, 355-356
Real interest rate, 383
Reciprocal Trade Agreements Act, 176-177 Redistributive effect, 114-115
Region of mutually beneficial trade, 38 Regional trading arrangement, 253-259 Regression analysis of exchange rates, 398-399 Revaluation, 447-448
Revenue effect, 114
Revenue tariff, 102
Ricardo, D., 30
Rules of the game, 403
Russia, 284
s
Safe havens, 386
Safeguards, 190-191
Scientific tariff, 131
Sea transport and freight restrictions, 166-167 Section 301 of the Trade Act of 1974, 197 Seigniorage, 467
Index 529
Selective quota, 141
Short position, 371
Small nation, 112
Smith, A., 29-30
Smoot-Hawley Act, 175-176
Smuggling steel, 104-105
Social dumping, 238
Social regulation, 165
Sources of comparative advantage, 63
Special drawing rights (SDRs), 444, 497-498
Specific tariff, 103
Specific-factors theory, 98-100
Speculation, 364-365, 370-371
Speculative attack, 458-462
Sporadic dumping, 157
Spot market, 342
Spread,344
Stabilizing commodity prices, 232-235
Stabilizing speculation, 366
Static effects of economic integration, 256-259
Statistical discrepancy, 325-326
Steel tariffs, 121-123
Steel-using industries, 120
Strategic trade policy, 206
Strike price, 349
Subsidies, 154-157
Sugar import quota, 144
Supply of international reserves, 494
Swap arrangements, 499
Sweatshop labor, 78-79
T
Target exchange rates, 453
Tariff,102
Tariff escalation, 107
Tariff welfare effects, 112-121
Tariff-rate quota, 147-148
Technical analysis, 392-393
