Journal Article Indifference Maps for Indispensable Goods Get access J. A. Galbraith J. A. Galbraith Ottawa, Canada Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 20, Issue 2, 1952, Pages 152–155, https://doi.org/10.2307/2295849 Published: 01 January 1952

Journal Article Non-Linear Estimates of the Engel Curves Get access S. J. Prais S. J. Prais Cambridge Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 20, Issue 2, 1952, Pages 87–104, https://doi.org/10.2307/2295843 Published: 01 January 1952

Stimulated by Fleming's study on a related subject, the author compares four methods to eliminate balance of payments disequilibria between high-employment countries forming a closed group: (i) "discriminatory" import duties and subsidies, (ii) "discriminatory" duties only or the corresponding quantitative restrictions, (iii) nondiscriminatory duties, and (iv) devaluation or income adaptation. For each an "optimum version" is defined and chosen; they are compared as to (a) the loss in international trade and (b) the distribution of the "direct burden" between the countries (defined as the short-run loss in real expenditure). A number of rather specific simplifications are introduced, all tending to make the case as symmetric as possible with regard to countries and commodities. As a consequence of the high-employment hypothesis and of absence of production substitution, problems of optimum allocation of resources are ruled out; the approach is a short-run one. Only policies (i) and (iv) show no loss of trade, whereas the others do; but in the case of devaluation the "direct burden" is relatively heavier for the deficit countries than in the other three cases.

I. Introduction, 557. — II. Formulation, 560. — III. General comments, 568. — IV. Numerical example, 570.

Journal Article Long-Range Cost Estimates for Old-Age Insurance: Comment Get access Robert J. Myers Robert J. Myers Social Security Administration, Washington, D. C. Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 66, Issue 2, May 1952, Pages 286–293, https://doi.org/10.2307/1882946 Published: 01 May 1952

Introduction, 545. — I. A simple model, 545. — II. Some consequences of the analysis, 549. — III. The simple model and reality, 552.