Recent Statistics on Wages Get access T. T. Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 13, Issue 1, October 1898, Pages 105–110, https://doi.org/10.2307/1882986 Published: 01 October 1898

This paper tests a necessary condition for the neutrality of money in a framework that imposes only weak restrictions on the money supply process. It extends Bernanke's [1986] work by weakening the set of just-identifying restrictions and by providing a statistical test of the overidentifying restrictions. Instead of specifying a structural model to identify primitive shocks, I deduce the impact effects of structural money shocks under the neutrality hypothesis and then test whether the system maintains neutrality as it propagates these impact effects. The tests reject neutrality for both the M1 and the monetary base.

Journal Article European Unification and the Dollar Problem Get access T. Balogh T. Balogh Balliol College, Oxford, Oxford University Institute of Statistics Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 65, Issue 1, February 1951, Pages 110–119, https://doi.org/10.2307/1879502 Published: 01 February 1951

I. The causes of the British crisis, 32. — II. Pent-up demand and inflation 33. — III. Decontrol, military commitments and the crisis, 37. — IV. The elements of a solution, 50. — V. Conclusions, 60.

Using geographic differences in the availability of payday loans, I estimate the real effects of credit access among low-income households. Payday loans are small, high interest rate loans that constitute the marginal source of credit for many high risk borrowers. I find no evidence that payday loans alleviate economic hardship. To the contrary, loan access leads to increased difficulty paying mortgage, rent and utilities bills. The empirical design isolates variation in loan access that is uninfluenced by lenders' location decisions and state regulatory decisions, two factors that might otherwise correlate with economic hardship measures. Further analysis of differences in loan availability—over time and across income groups—rules out a number of alternative explanations for the estimated effects. Counter to the view that improving credit access facilitates important expenditures, the results suggest that for some low-income households the debt service burden imposed by borrowing inhibits their ability to pay important bills.

This paper investigates the extent to which equilibrium and disequilibrium explanations can account for unemployment rate differentials between cities. It shows that shocks that disturb the steady-state relationship among the unemployment rates of metropolitan areas tend to be eliminated by mobility within a single year. It also shows that high unemployment areas tend to be those with attractive climates and amenities, high wages, and high unemployment insurance. It argues that the main effect of government programs that create jobs in high unemployment areas will be to lure additional job seekers to those areas.

Journal Article The Marginalist Principle in a Discrete Production Model Under Uncertain Demand: Comment Get access T. M. Whitin T. M. Whitin Wesleyan University Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 88, Issue 1, February 1974, Pages 139–140, https://doi.org/10.2307/1881801 Published: 01 February 1974

Journal Article Symposium: Time in Economic Life: Foreword Get access T. C. Schelling T. C. Schelling Guest Editor for the Symposium Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 87, Issue 4, November 1973, Pages 627–628, https://doi.org/10.2307/1882029 Published: 01 November 1973

I. Introduction, 712. — II. The deterministic model, 712. — III. The stochastic model, 714.

Variables and their scores, 648. — Validation procedures, 649. — Conclusions, 650.