摘要:

Controversy about the Quantity Theory has been marked by common themes since the 18th century. These include the definition of money, the relationship between correlation and causation, and the transmission mechanism. Controversy has continued because of the technical difficulty of sorting out the direction of causation running between money and prices, and, on a deeper level, because ideological concerns about the viability of market mechanisms are at stake in the controversy.

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1991.tb02559.x

出版商:Blackwell Publishing Ltd    

年代:1991

数据来源: WILEY

摘要:

This paper clarifies the literature on shadow pricing foreign exchange by distinguishing between two different concepts of ‘the social opportunity cost’ of foreign exchange: (a) the increase in utility (divided by the marginal utility of income) due to the availability of an extra dollar of foreign aid receipts; and (b) the maximum amount of some numeraire good which can be used up by the public sector to produce an extra dollar of foreign exchange, without reducing welfare. Both these concepts can be measured by appropriate, but different, versions of the traditional ‘Harberger’ formula The difference disappears entirely under the assumptions which justify partial equilibrium analysis. All these points can be clarified using a single

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1991.tb02560.x

出版商:Blackwell Publishing Ltd    

年代:1991

数据来源: WILEY

摘要:

This paper uses provisional monthly data to predict the one‐month‐ahead and one‐year‐ahead current account balance. Single‐equation methods are compared to an eight‐equation VAR model that utilizes the Box‐Tiao (1977) modifications. It is found that the single‐equation model of the current account out‐performs the system method for the short‐ term but the positions are reversed for

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1991.tb02561.x

出版商:Blackwell Publishing Ltd    

年代:1991

数据来源: WILEY

摘要:

The 1988 Committee to Advise on Australia's Immigration Policies uses ORANI projections of increasing GDP per head as indicators of the economic benefits of immigration. We show that the projections imply that immigration reduces incumbents' pre‐tax real incomes, leaving their post‐tax incomes unchanged The rise in GDP per head is due to immigrants' relatively high participation rates. We argue that distributional information is important in assessing the effects of immigrat

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1991.tb02562.x

出版商:Blackwell Publishing Ltd    

年代:1991

数据来源: WILEY

摘要:

This paper uses consumption data for eight commodity groups to present a system‐wide analysis of consumption patterns in the six States of Australia. We test the hypotheses of demand homogeneity, Slutsky symmetry and preference independence using Monte Carlo simulation techniques and find general acceptance of these hypotheses for the six States. The paper also presents demand elasticities for the eight commodity groups in each State. We find, overall, food, clothing and housing commodity groups are necessities while durables, medical care, transport and miscellaneous groups are luxuries. We also find evidence in support of similarity of consumption patterns across the six Australian State

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1991.tb02563.x

出版商:Blackwell Publishing Ltd    

年代:1991

数据来源: WILEY

摘要:

In this paper, the following four models of wage determination by trade unions, namely simple monopoly, wage‐bargaining (or ‘right to manage’), efficient bargains and insider‐dominated, are placed within a single framework. It is shown that the pattern of wage behaviour is the same in each of the four models. It is also shown that when taxation is introduced the impact on wages of changes in marginal and average rates of tax is similar across the

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1991.tb02564.x

出版商:Blackwell Publishing Ltd    

年代:1991

数据来源: WILEY

摘要:

Book reviewed in this article:Selling Hope. State Lotteries in America, by Charles T. Clotfelter and Philip J. CookHandbook of Public Economics, Volume 2, edited by A. J. Auerbach and M. FeldsteinFundamentals of Public Economics, by J. J. LaffontEthical Social Index Numbers, by Satya R. ChakravartyKeynes and India: A Study in Economics and Biography, by Anand ChandavarkarAn Essay on the Principle of Population, by T. R. MalthusPrinciples of Political Economy, by T. R. MalthusChampions of Enterprise, Australian Entrepreneurship 1788–1990, by Max Hartwell and Jacqui LaneIndustrial Organization, by O.E. WilliamsonThe Keynesian Revolution in the Making 1924–1936, by Peter ClarkeBlack hole tariffs and endogenous policy theory: Political economy in general equilibrium, by S.P. Magee, W.A. Brock and L. YoungHunger and Public Action, by Jean Drèze and Amartya SenGovernment and Economies in the Postwar World, Economic Policies and Comparative Performance, 1945–85, edited by Andrew GrahamA History of Australian Economic Thought, by Peter Groenewegen and Bruce McFarlaneThe Economic Problem in Biblical and Patristic Thought, by Barry

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1991.tb02565.x

出版商:Blackwell Publishing Ltd    

年代:1991

数据来源: WILEY

摘要:

Balassa. B. Comparative Advantage Trade Policy and Economic DevelopmentBlack, F. Business Cycles and EquilibriumBurgenmeier, B. and Mucchielli, J.L. (eds). Multi‐nationals and Europe 1992: Strategies for theFutureCarlin, W. and Soskice. D. Macroeconomics and the Wage Bargain: A Modern Approach to Employment Inflation and the Exchange RateDemsetz, H. The Organisation of Economic Activity, Volume I: Ownership Control and the FirmDorn, J. and Niskanen, W.A. (eds). Dollars Deficits&TradeFitoussi, J. and Phelps, E.S. The Slump in EuropeGoodwin, R.M. Chaoric Economic DynamicsJüttner, D. Johannes. International finance and global financial marketsMcAfee, R.P. and McMillan, J. Incentives in Government ContractingMcKenzie, L.W. and Zamagni, S. (eds). Value and Capital Fifty Years Later. International Economic Association conference volume no. 94Schotter, A. Free Market Economics. Second EditionSoesastro, H. and Pangestu, M. (ed.) Technological Challenge in the Asia‐Pacific EconomyVan Brabant, J. Remaking Eastern Europe‐On the political economy of transtion. International Studies in Economics and Econo

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1991.tb02566.x

出版商:Blackwell Publishing Ltd    

年代:1991

数据来源: WILEY

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1991.tb02567.x

出版商:Blackwell Publishing Ltd    

年代:1991

数据来源: WILEY

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1991.tb02568.x

出版商:Blackwell Publishing Ltd    

年代:1991

数据来源: WILEY