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Payment protection insurance |
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Payment protection insuranceA type of insurance that pays your loan for you if you become unable to work for an extended period of time, as a result of redundancy, accident, sickness or disability. Most non-mortgage PPI products are taken out for a length of time that corresponds to the life of the loan it is protecting.Payment protection insurance Similar MatchesEffective rate of protectionEffective rate of protectionA measure of the protection provided to an industry by the entire structure of tariffs, taking into account the effects of tariffs on inputs as well as on outputs. Letting bij be the share of input i in the value of output j, the ERP of industry j is ERPj = (tj-Sibijtij)/(1-Sibij). Due to Corden (1966). Patriotism argument for protectionPatriotism argument for protectionThe view that one is helping one's country by buying domestically produced goods instead of imports. In a nondistorted economy, this is not correct, since the country can do better producing where it has a comparative advantage rather than using scarce resources where it does not. Protection appliedProtection appliedA term used by the London Stock Exchange to denote that a transaction was protected at the time of reporting it. Second-best argument for protectionSecond-best argument for protection1. Any argument for protection that can be countered by pointing to a different and less distortionary policy that would achieve the same desired result at lower economic cost. 2. An argument for protection to partially correct an existing distortion in the economy when the first-best policy for that purpose is not available. For example, if domestic production generates a positive externality and a production subsidy to internalize it is not available, then a tariff may be second-best optimal. Cultural argument for protectionCultural argument for protectionThe view that imports undermine a country's culture and identity -- for example by changing consumption patterns to ones more similar to those abroad, or by reducing demands for domestically produced art and music -- and therefore that imports should be restricted. Further SuggestionsEndogenous protectionSelf-sufficiency argument for protection Environmental protection argument for a trade intervention Deposit Protection Scheme Domestic distortions argument for protection Employment argument for protection Content protection Investor Protection Scheme Political economy of protection Fairness argument for protection Contingent protection Labor standards argument for protection mortgage protection Securities Investor Protection Corporation home responsibilities protection Exchange rate protection Infant industry protection Tariff protection Nominal rate of protection Protectionism Safeguards protection National defense argument for protection Foreign investment argument for protection Balance of payments argument for protection Call protection |
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