Journal Article Whose Cost of Living? Get access S. J. Prais S. J. Prais London and Jerusalem Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 26, Issue 2, February 1959, Pages 126–134, https://doi.org/10.2307/2296170 Published: 01 February 1959

Journal Article A Problem Encountered in the Comparison of Technical Coefficients Get access Zivia S. Wurtele Zivia S. Wurtele Cambridge, Mass. Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 26, Issue 2, February 1959, Pages 148–152, https://doi.org/10.2307/2296172 Published: 01 February 1959

I. Introduction, 116. — II. Cost and uncertain demand, 117. — III. Alternative specifications, 118. — IV. Single period horizon: equilibrium conditions, 119. — V. The fundamental theorem, 122. — VI. Example: constant marginal cost, linear riskless demand, and rectangular distribution, 124. — VII. Rising marginal cost, 126. — VIII. Falling marginal cost, 127. — IX. Multi-period horizon, 128.— X. Conclusion, 129.

Journal Article Accelerated Investment as a Force in Economic Development: Reply Get access Howard S. Ellis Howard S. Ellis University of California, Berkeley Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 73, Issue 3, August 1959, Pages 502–503, https://doi.org/10.2307/1880619 Published: 01 August 1959

IN the current debate on the financing of education, estimates of the money benefits which school attendance confers on ex-students are occasionally invoked. In an effort to shed some further light on this subject, this note presents some crude and limited calculations on the relation between education and income. The approach to the estimation of life-time income chosen here is the so-called crosssectional one, which involves the analysis of incomes received by people of different ages and educational histories during a single year. Relevant data are available from the I950 Census of Population,' which tabulates total money incomes received in I949 by a 3 /3 per cent sample of the population aged I4 and over. Only males, irrespective of color, are considered in this paper.la The principal difficulty raised by this source of information 2 is that mean incomes are not stated; the table only gives the frequency distribution and the median for each educationage group. The median is clearly not the appropriate type of average for the present purpose; since the distributions are all positively skew, it is uniformly less than the (estimated) mean. Moreover the ratio of mean to median is larger at higher levels of education, indicating that the distribution is more unequal there than at lower levels. Hence a calculation based on medians would not even give the right proportions between life-time incomes for varying school attendance. It was consequently necessary to estimate the mean incomes. For every income group (irrespective of age and education) a representative income was selected by inspection of the income distribution.3 The figures used were as follows:

intensive goods to countries other than the United States. This may be considered as supporting the generally held opinion that Japan's foreign trade is two-sided.10 We suspect that foreign trade might have a similar nature. If data were available on the capital-labor ratios for United States exports broken down by countries, then more conclusive findings might be expected about the position of the United States in the international division of labor.11 Another interesting fact is that the capital-labor ratio for United States exports to Japan is not only larger than that for the United States total exports but also exceeds that for competitive imports. This means that United States exports to Japan are more capital-intensive than United States domestic production for replacing its competitive imports from the rest of the world. This would seem also to demand more careful investigation into the so-called Leontief paradox. We would like to refrain from drawing any sweeping conclusions here. 10 Cf. Economic Planning Board, Survey of Japanese Economy (I956-57). ' According to A. Daniere, relative foreign inefficiency is less in the production of B than in the production of A, where A denotes manufactured goods and B raw materials (ores, oils, rubber, and other important United States imports), due to differences in material resource endowment. Since these raw material products, on the whole, require a high capital-labor ratio, the large raw material component of United States imports suggests, in agreement with the authors' view, that the Leontief capital intensiveness situation holds better in the trade with raw material areas than with industrial countries. See Andre Daniere, American Trade Structure and Comparative Cost Theory, Economia Internazionale, Ix (August, I956), 426.