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 ...

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 ...

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 ...

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 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...