摘要:

SUMMARYKeynes paid no attention to the problem of distribution. Neo‐Keynesians investigated the dependency of alternative distributions on investment, but did not explain total profits. Growing accumulation of capital and constant distribution cause a decline of profitability. To preserve private investments an increase of total profits would be necessary. However wages are politically given and an increase of government expenditure is limited in its effects because of growing public supply. Distribution is in any case only a precondition for the propensity to invest. According to Keynes investments determine the economic process. A theoretical explanation of distribution is only possible by an explanation of the investment process, which depends on individual profitability and total profits. The theory of distribution has to be a profit theory. By this Keynesian Theory includes a reversal of the classical distribution theory, which starts from the wage

ISSN:0023-5962    

DOI:10.1111/j.1467-6435.1974.tb01095.x

出版商:Blackwell Publishing Ltd    

年代:1974

数据来源: WILEY

摘要:

SUMMARYA tentative unified micro‐macro model is developed to explain the persistent inflation‐unemployment morass by replacing the competitive endogenous money wage theory with the exogenous facts of collective bargaining. Inferentially, a feasible Incomes Policy would alleviate inflation while reserving monetary and fiscal policy to sustain full employment. The aggregative Keynesian macromodel developed builds on Walrasian, Marshallian, and monopoly micro‐foundations. Wage‐share constancy, which also underlies Cobb‐Douglasmacromodels, provides a simplifying hypothesis with empirical underpinning for mark‐up pricing. ‘Cost‐push’ and ‘demand‐pull’ as distinctive inflation forces appears generally spurious. Both forces have common roots in excessi

ISSN:0023-5962    

DOI:10.1111/j.1467-6435.1974.tb01096.x

出版商:Blackwell Publishing Ltd    

年代:1974

数据来源: WILEY

摘要:

SUMMARYThe existence of a quasi‐periodic cycle in growth rates of major economic indicators has become one of the more popular stylized facts in interpreting postwar macro‐dynamics. In this paper, we examine the statistical record of sixteen OECD countries over the 1950‐1970 period to determine the degree of regularity in movements of annual growth rates in both GNP and several disaggregated components. The Wallis‐Mooretest is employed to establish the significance of the deviation of growth rate fluctuations from those of a purely random series. In only 13 of the 90 series investigated were these deviations statistically significant and in only two countries, Germany and Finland, were more than one growth series significantly non‐random. These results suggest that there is little statistical significance to the growth cycle hypothesis from an annual perspective and that postwar macro‐dynamics generally fail to reflect in the growth rate domain much of the regularity observed in the more traditional business cycle of the pr

ISSN:0023-5962    

DOI:10.1111/j.1467-6435.1974.tb01097.x

出版商:Blackwell Publishing Ltd    

年代:1974

数据来源: WILEY

摘要:

SUMMARYMost macroeconomic models of open economies incorporate an algebraic misspecification when they introduce the possibility of exchange‐rate adjustments. The traditional treatment of this issue along the lines inaugurated by Laursenand Metzlerin 1950 is shown to be misleading in some important respects. In order to diagnose the nature of the international transmission of business cycles correctly, it is necessary to differentiate clearly between changes in thenominal valuesof the trade balance in domestic and in foreign currency and changes inphysical unitsof exports and imports. A correct treatment is shown to reverse even the sign of the employment effects of certain types of trade adjustments which some authors have deduced from incorrectly specified model

ISSN:0023-5962    

DOI:10.1111/j.1467-6435.1974.tb01098.x

出版商:Blackwell Publishing Ltd    

年代:1974

数据来源: WILEY

摘要:

SUMMARYCountries which have the same no‐trade techniques may still profitably enter into trade, providing that their rates of profit differ, for this implies differences in relative prices. The analysis is conducted by comparing the wage‐profit frontiers appropriate to the production activities in the autarkic and trading equilibria. The motive for trade can be said to be the pursuit of a superior rate of profit‐real wage combination. The ‘gains from trade’ are assessed by comparing the autarky and trade consumption‐growth frontiers. If countries have the same single technique, one country will always gain from trade while the other may lose. If countries have different techniques then both may lose. When each country can choose from a set of techniques then, even if the sets are the same, both may still lose. These possibilities could be avoided in planned economies, whether centralised or decentralised, by ensuring that the maximisation of consumption at a given rate of growth is the objecti

ISSN:0023-5962    

DOI:10.1111/j.1467-6435.1974.tb01099.x

出版商:Blackwell Publishing Ltd    

年代:1974

数据来源: WILEY

摘要:

SUMMARYThe article questions the advisability of using the standard shadow wage formulas to calculate labor costs for development project appraisal purposes. It is shown that such formulas apply only if a share‐alike rural ethic is responsible for the rural marginal product‐urban wage gap. Moreover even in cases where such formulas may be legitimately used, their application leads to a decrease in the accumulation rate. To improve labor allocation without sacrificing growth it is necessary to have recourse to fiscal tools. With the aid of appropriate fiscal measures it is possible to eliminate the gap between the actual wage and the social opportunity cost of labor, and to promote good use of labor throughout the economy, and not merely on projects covered by the social cost‐benefit cal

ISSN:0023-5962    

DOI:10.1111/j.1467-6435.1974.tb01100.x

出版商:Blackwell Publishing Ltd    

年代:1974

数据来源: WILEY

摘要:

SUMMARYThe paper reviews and assesses recent developments in transport planning techniques and makes suggestions on those aspects on which further research could most productively focus.Part Ideals with various traffic forecasting methods, a field in which newer microeconomic decision models appear to provide promising results.Part IIanalyzes the use and limits of various planning techniques at the project, modal network and intermodal level, with particular emphasis on multiparametric simulation models; special attention is directed at the interdependence of investment, pricing, taxes/subsidies and access control.Part IIIis concerned with some ambitious but rather unsatisfactory attempts of predicting the locational impact of changes in the transport sector on other sectors of the economy; consistency analysis, dynamic planning and further basic line data collection, necessary to formulate models of higher predictive value, are suggested.Part IVdiscusses the implications of using transport policy as an instrument for explicitly influencing the desired regional pattern of economical and social activities, an area to which priority of further research should be given.

ISSN:0023-5962    

DOI:10.1111/j.1467-6435.1974.tb01101.x

出版商:Blackwell Publishing Ltd    

年代:1974

数据来源: WILEY

ISSN:0023-5962    

DOI:10.1111/j.1467-6435.1974.tb01102.x

出版商:Blackwell Publishing Ltd    

年代:1974

数据来源: WILEY

ISSN:0023-5962    

DOI:10.1111/j.1467-6435.1974.tb01103.x

出版商:Blackwell Publishing Ltd    

年代:1974

数据来源: WILEY

ISSN:0023-5962    

DOI:10.1111/j.1467-6435.1974.tb01104.x

出版商:Blackwell Publishing Ltd    

年代:1974

数据来源: WILEY