Journal Article International Propagation of Business Cycles Get access J. J. Polak J. J. Polak Geneva Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 6, Issue 2, February 1939, Pages 79–99, https://doi.org/10.2307/2967392 Published: 01 February 1939

E. J. Broster; Elasticities of Demand for Tea and Price-Fixing Policy1, The Review of Economic Studies, Volume 6, Issue 3, 1 June 1939, Pages 165–176, https://d

In the work done to obtain demand functions from market data, the influence of income changes on demand has been usually eliminated (by Professor Schultz and others) by regarding the national income per head, R, as a linear component of the demand function; sometimes a parameter supposed to characterize the distribution (such as Pareto's a or some index of concentration)' was used as another such component, e.g.:

In a recent investigation which the author has made for the League of Nations Secretariat, it was found that share prices seem to have exerted a considerable influence on the course of the American cycle beginning in 1924 and having its boom year in 1929. The chief reason for this influence may be summarized briefly as follows: (a) Share prices have an influence on the ease with which capital issues may be floated and therefore on investment activity in general; (b) the rate of increase in share prices seems to have an influence on consumption, especially by those making capital gains. These influences have been investigated in the forthcoming League of Nations publication and will not be treated in detail now, but it may be seen from this brief indication that the formation of share prices seems to be important in the explanation of some business-cycle phenomena. This is the justification for the present paper, which deals only with that price formation.

Journal Article The Propensity to Consume: A Comment Get access Acheson J. Duncan Acheson J. Duncan Princeton University Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 53, Issue 4, August 1939, Page 632, https://doi.org/10.2307/1883284 Published: 01 August 1939

Tendency to long-run unemployment and the factors which determine its amount, 103. — Proposed remedies: wage reduction, 109; credit expansion, 113; deficit financing, 114. — Different types of deficit financing: current consumption, 116; tax reduction and subsidies in favor of consumers' goods, 116; public investment, 118; reduced taxation or subsidies in favor of investment goods, 118; tax reduction or bounties to individuals, 120; public disbursements to property owners, 121; remission of taxation on, or subsidization of, property, 123. — Financing the deficit: the increasing public debt, 124; ways out of the dilemma, 125. — Balanced budget policy, 126. — Fancy remedies: taxation of saving, 127; taxation of money balances, 128. — Conclusion, 130.

I. Provisions of the Reichserbhofgesetz, 465.—Amendments and modifications, 467.—II. Motives underlying the law: improving the immediate condition of the farmer, 467.—III. Social or national objectives: checking subdivision of farm properties, 469; establishment of a rural caste, 470; protection to the rural birthrate, 471.—IV. Effects of the law, 472. — The problem of new farm financing, 473.—Destruction of property values, 474. — Check to progress of landless toward land ownership, 475.—V. General conclusions, 476.