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"But the two risks we faced were that the current-account deficit is relatively inelastic in the short run: do the markets have the patience to wait for it to narrow?
In an extreme case, demand for goods on which tariffs are raised might be completely inelastic , so the rise may not matter (except as a matter of principle).An estimate of this sort does exist; World Bank economists have used existing estimates of the elasticity of demand to tease out the effect of everything countries did, tariff and anti-dumping-wise, last year.
Monetary policy now looks confused.In this section The temptations of yield Name theory Trouble at home Banks beaten Black ink Unhappy returns Bad habits Inelastic bands Germany's euro test Reprints Related items Poland and the European Union: Back into the foldJun 12th 2003 Economics focus: Germany's euro testJun 12th 2003 Britain and the euro: What a pity.
That means to increase access to microfinance, lowering interest rates is preferable.Others disagree: they argue that demand for loans is rather inelastic.
Although investment-grade spreads have moved little since then, those of junk issuers have continued to tighten, from 1,100 bps in October to 730 now.In this section The temptations of yield Name theory Trouble at home Banks beaten Black ink Unhappy returns Bad habits Inelastic bands Germany's euro test ReprintsThe same pattern can be seen in emerging markets.
Even if twins are more cost effective, making the IVF fee worth it, a credit crunch may ultimately decrease the demand for IVF and lower the incidence of multiple births.While the demand for multiple births may have increased, the price for them (as opposed to a single birth) will remain the same because supply is fairly inelastic.
The great debate Reprints Related items Central European currencies: Inelastic bandsJun 12th 2003 Poland's EU referendum: Come on, try getting excitedJun 5th 2003It has done so already in the five-year-long accession negotiations, talking at times as though it was doing the EU a favour by joining.
Energy markets are inelastic and inefficient; even relatively high taxes on fossil fuels have had only small effects on energy use.
What's more, in the event that demand for the undesirable good is highly inelastic , a Pigovian tax on that good will raise a lot of revenue which can in turn fund a great deal of research into the development of alternatives or of anything else you'd like to spend money on.This is what I ultimately don't understand about Mr Manzi's argument.
If demand for carbon or oil is relatively inelastic , then a tax on carbon or oil is a great way to generate revenue.
Because of inelastic and arguably inefficient energy markets, even relatively high taxes on fossil fuels may have only small effects on energy usage.
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The term "inelastic" primarily functions as an adjective , modifying nouns to describe a lack of elasticity or responsiveness. As Ludwig AI illustrates, it's commonly used to characterize the demand or supply of goods in economics, or the physical properties of materials.
Expression frequency: Very common
