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A note on extraneous information in regression
(1973)
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 ...
Maximin paths of heterogeneous capital accumulation and the instability of paradoxical steady states
(1977)
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 ...
Capital deepening response in an economy with heterogeneous capital goods
(1972)
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...
Economic Theory and Society: A Plea for Process Analysis
(1972)
That the social sciences have grown up linked with their subject matter presents a
unique challenge to historians. They have not only to unravel the complex strands
in the evolution of theory but have also to discover the ...
Price expectations, disequilibrium adjustments, and macroeconomic price stability
(1978)
In two previous papers we have discussed the formulation of a logically consistent
adaptive-type price expectations mechanism in continuous time and have applied our
results to derive sufficient conditions for dynamic price ...
Technical Change and Firm Size: The Pharmaceutical Industry
(1974)
The plan of this paper is as follows: First, we summarize and point out several problems
we found with Comanor's study. Section III presents the results from a two-equation
model that decomposes the technical change measure ...
A Comment on" This Age of Leontief... and Who?"
(1975)
Levine claims that Sraffa has been misunder- stood on issues concerning, "(1) [the]
use of pro- duction coefficients and the question of returns to scale, (2) the centerpiece
of the price-deter- mining apparatus, (3) numeraire ...
The irrelevance of Sraffa's analysis without constant returns to scale
(1977)
One fundamental result in Sraffa's production of commodities by means by commodities
is the relationship between the rate of profit for a given production tecchnique and
Sraffa;s measure of the real wage.................
Perfect Foresight, Expectational Consistency, and Macroeconomic Equilibrium
(1977)
This paper begins by introducing three alternative properties of expectations: weak
consistency, strong consistency, perfect foresight. These concepts are then used to
consider the relationship between beginnning of period ...