Knowledge that Transforms

1. An Outline of the System2. The Relation Between Foreign Factors and National Income(1) The Foreign Trade Multiplier(2) The Effect of Changes in Import and Export Prices on Real Income(3) Imports for Consumption and Imports for Investment(4) Induced Investment(5) The Treatment of Lags(6) Why Lags May Not Appear In The Multiplier Relationship(7) The Treatment of Autonomous Investment(8) Capital Imports and Autonomous Investment(9) Autonomous Imports3. Explanation of the Volume of Imports of Individual Countries(1) Expanded Import Equation: Relative Prices(2) Import Restrictions(3) Import Restrictions and Relative Prices(4) The International Reflection Ratio(5) Further Discussion of the International Reflection Ratio(6) The Total Effect of Changes in Relative Prices on Imports(7) Direct Determination of the International Reflection Ratio4. Explanation of the Volume of Imports of Individual Countries(1) Exports as the Main Foreign Factor(2) The Problem of Aggregation: Use of World Trade(3) Alternative Aggregation: Use of World Income(4) Expanded Export Equation: Relative Prices5. The International Economic System(1) The Endogenous System(2) Two Categories of Shocks(3) Autonomous Investment(4) Import Restrictions(5) Changes in Relative Prices6. General Statistical Observations(1) Introduction(2) The Correlation Technique(3) The Need for Short Cuts(4) Reliability of Coefficients(5) The Indeterminacy of Propensities(6) Separation of World in its Two Main Components(7) The Treatment of Individuals(8) The Combination of Instantaneous and Lagged Coefficients7. Statistical Results For Individual Countries(1) Introduction(2) Europe* Czechoslovakia* Denmark* Finland* Germany* Hungary* Ireland* Italy* Netherlands* Norway* Sweden* Switzerland* United Kingdom(3) British Dominions* Australia* Canada* New Zealand* Union of South Africa(4) Far East* China* India* Indonesia* Japan(5) Latin America* Argentina* Chile(6) United States8. Summary of Results(1) Summary Table(2) The Export Explanation(3) The Multipliers(4) The Import Explanation(5) International Reflection Ratios(6) The World Multiplier(7) Application to the 1929-32 Depression