Now showing items 1-10 of 96
Keynes' Employment Function
(History of Political Economy, 1974-05)
A note on extraneous information in regression
The Theil-Goldberger ( 196 1) exposition of combining sample and prior information is well known and appears now in standard textbooks for graduate econometrics courses. Diminishing the value of the prior relative to the ...
Microfoundations of Macroeconomics: A Critical Survey
(Journal of Economic Literature, 1977-03)
Maximin paths of heterogeneous capital accumulation and the instability of paradoxical steady states
If there exist heterogeneous capital goods, a steady state may be "paradoxical" in the sense that increasing the rate of interest above the Golden Rule level may lead to an increase in consumption or utility, rather than ...
The ranking of alternative tariff and quota policies in the presence of domestic monopoly
(Journal of International Economics, 1977-01-01)
Bhagwati demonstrated the nonequivalence between tariffs and quotas in the presence of monopoly. This paper also assumes domestic production to be monopolized and shows that giving import licenses or tariff revenues to the ...
Mill and Cairnes and the Emergence of Marginalism in England
It is well known that marginalist concepts appeared in economic literature before 1871. As far as England is concerned, the notion of diminishing marginal utility, for example, was spelt out in the 1830’s and again in the ...
"Estimation of Structure Profit Relationships: Comment"
(American Economic Review, 1973-09)
Commercial Policy under Fixed and Flexible Exchange Rates
(Quarterly Journal of Economics, 1973-08)
On the functional relationship between tariffs and welfare
(Journal of International Economics, 1975-01-01)
This paper uses a model of trade in two commodities between two countries to establish the following proposition. If the foreign offer curve has no points of inflection and if for each home rate of duty the equilibrium most ...
Capital deepening response in an economy with heterogeneous capital goods
Capital deepening is an important con- cept in traditional capital theory. In a one-sector model it has an unambiguous definition, describing an increase in the physical capital-labor ratio...