Journal Article A Note on Gold Movements in the Present International Monetary System Get access F. Lutz F. Lutz Chicago Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 5, Issue 1, October 1937, Pages 66–71, https://doi.org/10.2307/2967581 Published: 01 October 1937

Three logical possibilities as to what an entrepreneur should maximize: the internal rate of return, total profits, rate of profit over cost, 56. — I. The use of these criteria in the literature on the theory of capital and interest, 57. — II. The case of tree-growing: the internal rate of return, 63; total profits, 66; choice between them when a market rate of interest exists, 68; when no market rate exists, 70. — III. Total profits vs. rate of profit over cost, 71. — Where entrepreneur's funds are not limited, 75. — Financing by stock and by debts, 76.

I. Assumptions, 36. — Five propositions concerning the relationship between short and long rates, 37. — II. Influence of the costs of investment, 41. — Shiftability on the lenders' side, 43. — Two complications: many maturities, 44; the function of banks as changers of maturities, 45. — III. The influence of risk, 46. — IV. Expectations: the rational investor's decisions, 48; possible inconsistencies, 49. Effect of divergent expectations among members of the market, when the majority expect rising interest rates, 51; when "the market" expects rates to fall, 54. — V. Verification: movement of interest rates over time, 55; structure of yields on different maturities, 56. — VI. Bearing of this analysis on: influence of the discount rate on investment, 60; interest and the marginal efficiency of capital, 60; influence of wide gaps between short and long rates, 61; the "liquidity theory of interest, " 62.

Journal Article Final Comment Get access F. A. Lutz F. A. Lutz Princeton University Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 53, Issue 4, August 1939, Pages 627–631, https://doi.org/10.2307/1883283 Published: 01 August 1939

Keynes I. Saving and investment may differ, 589.— Significance of the concepts as used here, 591.— Valueless for monetary policy, 594.— Robertson. The “day,” 595.— Consequences of this change, 597.— Applicable only under certain conditions, 598.— Similar concepts, 600.— The ex ante and ex post concepts. Myrdal, 602.— Usefulness of these concepts, 604.— Comparison with Robertson, 604.— Active and passive investment and saving, 607.— Keynes II. Saving always equals investment, 608.— Association with the multiplier, 608.— Comparison with classical view, 611.— Conclusions, 613.

This paper examines the residential location and school choice responses to the desegregation of large urban public school districts. We decompose the well documented decline in white public enrollment following desegregation into migration to suburban districts and increased private school enrollment, and find that migration was the more prevalent response. Desegregation caused black public enrollment to increase significantly outside of the South, mostly by slowing decentralization of black households to the suburbs, and large black private school enrollment declines in southern districts. Central district school desegregation generated only a small portion of overall urban population decentralization between 1960 and 1990.