This paper shows that previous analyses of IRA-type plans that seek to encourage household saving have miscalculated their effect on tax revenue and therefore on national saving by ignoring their favorable impact on corporate tax payments. Recognizing the important effects of IRA plans on corporate tax revenue changes previous conclusions about the revenue loss in a fundamental way. The revenue loss associated with IRAs either is much smaller than has generally been estimated or is actually a revenue gain.

Starting from a micro model of consumer behavior under rationing by queuing that utilizes Gary Becker's "Allocation of Time" framework, we develop a simple macroeconomic model of a socialist economy. The "length of the queue" is the key endogenous variable that equilibrates aggregate supply and aggregate demand. Comparative statics analysis shows that an increase in wages over money prices brings about longer queues that reduce labor supply, output, and welfare. When shortages grow beyond a certain critical level, queues fail to sustain aggregate equilibrium in the economy.

Journal Article Dynamic Edgeworth-Bertrand Competition Get access Marc Dudey Marc Dudey Board of Governors of the Federal Reserve System and Rice University Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 107, Issue 4, November 1992, Pages 1461–1477, https://doi.org/10.2307/2118397 Published: 01 November 1992

Journal Article Consistent Wage Offer and Reservation Wage Distributions Get access Michael Sattinger Michael Sattinger State University of New York at Albany Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 106, Issue 1, February 1991, Pages 277–288, https://doi.org/10.2307/2937916 Published: 01 February 1991

I test for the importance of wage rigidities from long-term contracts by observing how employment responds when firms and workers recontract. If rigidities are important, then employment should adjust after recontracting to partially undo its movements during the past contract. I examine twelve manufacturing industries that display a strong bargaining pattern. I find employment does rebound after recontracting, particularly in motor vehicles. This implies that contract rigidities are important. I also find responses in wage growth at the beginning of new contracts; but these responses are not related to the pattern of employment responses across industries.

Preliminary definitions, 405. — Liquidity and the monetary concept, 406. — Liquidity preference, 410. — Definition of money, 411. — The utility of money, 414. — Answers to objections, 414. — The specifications of monetary neutrality, 418. — Three model sequences, 420. — Conclusions for policy, 425.

Purpose and scope of the study; reasons for excluding Scottish data, 624. — The four composite areas, 627.— The averages used, 628.— Conclusions apparent when data are graphed, 628.— Implications of these characteristics, 634.— The significance of underassessment, 636.— Revaluation in 1929 left much to be done, 638.— Organization employed, 641.— Distribution of government grants, 642.— Revaluation in 1934 brought some improvement, 646. — Derating of industrial properties, 648.— Opposition to derating, 651.— seq="a" General conclusions concerning the significance of underassessment, 653.

Atomistic competition, 535. — Wage-fixing activity: no employer discrimination. The open shop, 538; the closed shop, 543. — Employer discrimination: quantity discrimination, 545; price discrimination, 548; discrimination of both types, 550. — Recapitulation, 550. — Plural price of labor: demand and supply curves independent, 551; demand curves dependent, 556; demand and supply curves inter-related, 559.

The Bank-Note System of Switzerland Get access M. Sandoz M. Sandoz Inspektorat der Schweizerischen, Emissionsbanken, Bern Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 12, Issue 3, April 1898, Pages 280–306, https://doi.org/10.2307/1881896 Published: 01 April 1898

This paper examines shares of fixed capital formation in GDP and rates of economic growth for more than 100 countries over successive five-year periods between 1965 and 1985 to determine the direction of causality between them. Simple regressions and multiple regressions including several standard determinants of growth, as well as a simple causality test, provide more evidence that increases in growth precede rises in rates of capital formation than that increases in capital formation precede increases in growth. High rates of fixed capital formation accompany rapid growth in per capita income, but we find no evidence that fixed investment is the only or main source of ignition for economic growth.