Price variation accounting, Price-level adjusted accountings, Net income, Time value of money

Thomas R. Dyckman, Observations on Jensen's Experimental Design for Study of Effects of Accounting Variations in Decision Making, Journal of Accounting Research, Vol. 5, No. 2 (Autumn, 1967), pp. 221-229

He then interprets Walras' Law as asserting that we drop one of the two excess demand equations, and thus the remaining system contains a liquidity preference equation and a loanable funds equation.We cannot eliminate one of the markets if it is a stock-flow good.But this conclusion is quite wrong.Lloyd misinterprets Walras' Law.Let Xi = excess flow demand for the ith good and xi = the investment demand for the ith good.In this ,.context Walras' Law merely states that L p,(x,+xi) = 0 ([2], p. 29).Accordingly, if , = 1 all markets but one are in market equilibrium, so is the nth market.Similarly, if all markets but one are jn full stock equilibrium, the nth market is in either market or full stock equilibrium.Thus if n -1 markets (including money) are in any kind of equilibrium, the bond market is at least in market equilibrium.We have thus established the static equivalence of liquidity preferences and loanable funds for mixed stock-flow economics.The dynamic equivalence of these two theories has not been establishe<!,;and, indeed, under general dynamic assumptions it is impossible to do so [5,6].,-

Journal Article Efficiency Prices for Infinite Horizon Production Programmes Get access R. Radner R. Radner University of California, Berkeley Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 34, Issue 1, January 1967, Pages 51–66, https://doi.org/10.2307/2296570 Published: 01 January 1967

In a recent article in this Journal, Jacob B. Michaelson and Robert C. Goshay (hereafter M-G) argue that the rule of maximizing share values does not adequately explain the portfolio selection practices of financial intermediaries. Moreover, M-G suggest that their analysis “has ramifications that reach far beyond financial intermediaries.” In particular, they state that “the asset holdings of conglomerate firms and the rationale for mergers may not be fully explicable in terms of maximizing behavior.”

This paper presents the results of a simulation study of the dynamic characteristics of the model built by Professor Chow whose purpose was to study statistically the relevance of the multiplier, accelerator, and liquidity preference as determinants of the national income of the United States.

Journal Article Tests of a Capital-Theoretic Model of Technological Change Get access R. E. Lucas, Jr. R. E. Lucas, Jr. Carnegie Institute of Technology Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 34, Issue 2, April 1967, Pages 175–189, https://doi.org/10.2307/2296807 Published: 01 April 1967

Journal Article The Equivalence of Liquidity Preference and Loanable Funds Theories in Stock-Flow Economies: A Comment Get access R. J. Ruffin R. J. Ruffin Washington State University Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 34, Issue 4, October 1967, Pages 420–421, https://doi.org/10.2307/2296561 Published: 01 October 1967

R. Sato, K. Nagatani; The Stability of Oligopoly with Conjectural Variations, The Review of Economic Studies, Volume 34, Issue 4, 1 October 1967, Pages 409