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 ...

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 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...

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 ...

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 ...

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 ...

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 ...

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.................

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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 ...