A theory stating that the exchange rate equalizes the price of a market basket of goods in the two countries. Since the composition of market baskets and price indexes varies substantially across coun [..]

A model of price behavior in which expectations of the future spot price are formed from a weighted average of the current spot price and lagged expected prices.

A regional development bank for Africa established in 1964 and located Abidjan, Ivory Coast.

A theory of firms that deals with the conflict of interest between managers and stockholders.

A bank appointed in a syndicated credit to oversee the loan.

A state in which resource allocation is optimal and further rearrangement of resources would not improve economic welfare.

Certificates, traded in the United States, that represent the ownership of foreign stocks.

An option that can be exercised at any time prior to the contract's expiration date.

An increase in the market value of a currency with respect to a second currency or a real asset. The term is used in reference to a market price as opposed to an official price or par value.

The simultaneous purchase and sale or lending and borrowing of two assets in order to profit from a price disparity.