Balance of payments adjustment mechanism
Balance of payments adjustment mechanismAny process, especially any automatic one, by which a country with a payments imbalance moves toward balance of payments equilibrium. Under the gold standard, this was the specie flow mechanism.
Border tax adjustmentBorder tax adjustment
Rebate of indirect taxes (taxes on other than direct income, such as a sales tax or VAT) on exported goods and levying of them on imported goods. May distort trade when tax rates differ or when adjustment does not match the tax paid.
Trade adjustment assistanceTrade adjustment assistance
A program of adjustment assistance for workers and firms in industries that have suffered from competition with imports. In the U.S., TAA began with the Trade Act of 1974, and has been renewed and expanded since then, including as part of the NAFTA.
Structural adjustment programStructural adjustment program
The list of budgetary and policy changes required by the IMF and World Bank in order for a developing country to qualify for a loan. This "conditionality" typically includes reducing barriers to trade and capital flows, tax increases, and cuts in government spending.
Marshallian adjustmentMarshallian adjustment
A market adjustment mechanism in which quantity rises when demand price exceeds supply price and falls when supply price exceeds demand price.
Walrasian adjustmentWalrasian adjustment
A market adjustment mechanism in which price rises when there is excess demand and falls when there is excess supply. Strictly speaking, these excess supplies and demands are those that would obtain without any history of disequilibrium, as with a Walrasian auctioneer.
Further SuggestionsAdjustment bond
International adjustment process
Cumulative Translation Adjustment (CTA) account
higher rate adjustment