As maintained by J. M. Clark the amplitude of the investment cycle is larger and that of the consumption cycle smaller than that of the income cycle, provided only the consumption constant is larger than zero. On the other hand, it is true that acceleration is neither a necessary nor a sufficient condition for magnification: not a necessary condition since (4) is independent of the investment function; not a sufficient condition since, for co = o, magnification is absent regardless of the investment function and even if Baumol's equation (3) were valid and his conditions for magnification were satisfied.

Journal Article Ricardo's Transfer-Mechanism Theory Get access Will E. Mason Will E. Mason Pennsylvania State University Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 71, Issue 1, February 1957, Pages 107–115, https://doi.org/10.2307/1882298 Published: 01 February 1957

Journal Article Mr Kaldor on Taxation and Risk Bearing Get access E. Cary Brown E. Cary Brown Cambridge, Massachusetts Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 25, Issue 1, October 1957, Pages 49–52, https://doi.org/10.2307/2296121 Published: 01 October 1957

Sidney E. Rolfe, Geoffrey Furness, The Impact of Changes in Tax Rates and Method of Collection on Effort: Some Empirical Observations, The Review of Economics and Statistics, Vol. 39, No. 4 (Nov., 1957), pp. 394-401

J. Black, A. E. de Jasay; Speculation and the Rate of Interest*, The Review of Economic Studies, Volume 24, Issue 2, 1 February 1957, Pages 95–110, https:/

T HIS article is based on a milk supply adjustment study. A primary objective was to test the use of linear programming techniques on the problems of farmers: how useful it would be for telling farmers what production adjustments would pay in response to changes in technical and economic conditions. The empirical results illustrate particular extensions in the application of programming techniques, but, more important, the results are of interest from two viewpoints: first, they indicate profitable lines of change in production when facing a range of changes in conditions of factor supply, prices of labor, prices of milk, and technical possibilities. Second, they offer reasonable explanations of changes taking place in important sectors in the southern states. The data were drawn largely from dairy farms in the Piedmont areas of North Carolina, but the empirical results should also apply in general to the much larger Piedmont region of the South and, to a somewhat lesser extent, to the larger areas in which cotton and tobacco are major crops. Production of milk for fluid use increased rapidly on these farms in the North Carolina Piedmont areas between I949 and I954. Expansion of dairying was accompanied by certain changes: enlargement of smaller farms by the renting of additional land, an increase in production of pasture and hay, shifts from lower-producing breeds to the Holstein breed, elimination of cotton or tobacco on many of the dairy farms, reduction in labor supply, and an increase in use of tractors. Assumptions