Deardorff's Glossary of International Economics

- J -

J-curve The dynamic path followed by the balance of trade in response to a devaluation, which typically causes the trade balance to worsen before it improves, tracing a path that looks like a letter "J".
Jobless rate Same as unemployment rate.
Jobless recovery After a recession, an expansion of real GDP that is not accompanied by a significant expansion of employment. This is possible, for example, if labor productivity expands.
Jobs argument for protection Employment argument for protection.
Joint venture An undertaking by two parties for a specific purpose and duration, taking any of several legal forms. Two corporations, for example, perhaps from two different countries, may undertake to provide a product or service that is distinct, in kind or location, from what the companies do on their own.
Jones Act A U.S. law that prohibits foreign ships from transporting goods or people between one U.S. location and another. Such a restriction on cabotage is an example of a barrier to trade in a service.
Jones' hat algebra See hat algebra.
Jubilee 2000 A movement advocating the cancellation of debts that burden developing countries, intended to occur in the year 2000.
Juridical person An entity other than a natural person, such as a partnership or a corporation, that is given some of the same rights as persons under the law.
JV Joint venture