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grey belt (Jl)<br />An area with a high proportion of retired people in its population. In many countries, the grey belt is situated on the coastline with the best climate.<br /><em>See also:</em> ageing population
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shadow price (DO)<br />An imputed price used where a market price does not exist. These prices are used by large firms for their internal transactions, by central planners for accounting purposes and in COST BENEFIT ANALYSIS to measure the effects of a particular investment. There are shadow rates of interest, shadow exchange rates and shadow wage rates. The purpose of such pricing is to correct distortions introduced by monopoly, taxes and unemployment. The concept has many applications in both developed and less developed countries (because they tend to overvalue their labour and undervalue their foreign exchange).<br /><em>Reference</em><br />Little, !.M.D. and Scott, M.P.G. (eds) (1976) Using Shadow Prices, London: Heinemann Educational.
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