Knowledge that Transforms

Journal Article The Multiplier Concept and Monetary Restraint: A Response Get access Jack Vernon Jack Vernon University of Florida Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 90, Issue 3, August 1976, Pages 518–520, https://doi.org/10.2307/1886051 Published: 01 August 1976

I. Classical demand analysis and cross-sectional price elasticities, 509.—II. Price discrimination and the new theory of demand, 510.—III. Conclusion, 512.

In his recent paper entitled The Structure of Exchange in Barter and Monetary Economies,' R. M. Starr examined the structure of exchange in barter and monetary economies on the assumption of the classical dichotomy to demonstrate the superiority of the latter to the former in some appropriate sense. In particular, in Corollary 2 to Theorem 3 he proved that the class of all barter exchanges that are monotonically-excess-demand-diminishing, excess-demand-fulfilling, and price-consistent at prices p, is smaller, in set-theoretic sense, than the family of the real counterpart of a monetary exchange having those properties at PM. Though this is clearly the comparison of the structure of exchange at equilibrium prices, the greater flexibility of monetary trade is not confined to trade at equilibrium prices. That is, we can further prove that the class of all barter exchanges that are monotonically-excess-demand-diminishing and price-consistent at an arbitrary price system p is smaller, again in set-theoretic sense, than the family of the real counterpart of a monetary exchange having those two properties at an arbitrary pM; that is, the following:

Journal Article The Multiplier Concept and Monetary Restraint: A Comment Get access Charles F. Peake Charles F. Peake University of Maryland, Baltimore County (UMBC) Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 90, Issue 3, August 1976, Pages 515–517, https://doi.org/10.2307/1886050 Published: 01 August 1976

Journal Article Stock Market Optimality: Comment Get access Stephen F. LeRoy Stephen F. LeRoy Federal Reserve Board Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 90, Issue 1, February 1976, Pages 150–155, https://doi.org/10.2307/1886091 Published: 01 February 1976

Journal Article A Model of Location and Industrial Efficiency with Free Entry Get access J. M. A. Gee J. M. A. Gee The University, Dundee Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 90, Issue 4, November 1976, Pages 557–574, https://doi.org/10.2307/1885321 Published: 01 November 1976

I. Introduction, 138. — II. The model, 139. — III. Effect of a change in the tax schedule, 142. — IV. Example: A linear savings function, 145. — V. The optimum tax according to the maximin criterion, 148. — VI. Final comment, 149.

Introduction, 445.—Summary of findings, 446.—Conclusions, 457.