Journal Article Patterns of Trade and Investment in a Dynamic Model of International Trade Get access H. Oniki, H. Oniki The University of Chicago Search for other works by this author on: Oxford Academic Google Scholar H. Uzawa H. Uzawa The University of Chicago Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 32, Issue 1, January 1965, Pages 15–37, https://doi.org/10.2307/2296328 Published: 01 January 1965

Valuation, Partial obsolescence

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Journal Article Linear Decision Rules for Economic Stabilization and Growth: Comment Get access John H. Wood John H. Wood Board of Governors, Federal Reserve System, Washington, D.C. Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 79, Issue 2, May 1965, Pages 310–316, https://doi.org/10.2307/1880635 Published: 01 May 1965

Journal Article The Expectations Hypothesis, the Yield Curve, and Monetary Policy: Reply Get access John H. Wood John H. Wood University of Birmingham Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 79, Issue 4, November 1965, Pages 669–670, https://doi.org/10.2307/1880660 Published: 01 November 1965

I. Introduction, 291. — II. The issues, 292. — III. The definition of money, 293. — IV. The role of interest rates, 296. — V. Cyclical variations, 297. — VI. Summary, 299. — Appendix, 300.

This essay provides the kind of concise and incisive survey that we have learned to await with anticipation from the ever-active pen of Professor Johnson. This time he is discussing the role of monetary policy as a stabilization device. The paper, originally prepared for the Canadian Royal Commission on Banking and Finance, deals mainly with Canadian problems. But the author ranges over the pros and cons of a number of issues of general interest, and there are useful comments on a variety of open questions.

IT IS GRATIFYING that my paper on Additive Preferences has been the occasion for the preceding note by Samuelson, and also for an independent comment by W. M. Gorman which with characteristic modesty he has withdrawn from publication because its results were similar to Samuelson's. These admirable contributions do not call for extended comment on my part.' I take the opportunity, however, to answer an open question raised by Samuelson.2 This question concerns the existence of a nontrivial self-dual preference ordering, that is a preference ordering with a direct utility function that can be written in the same mathematical form as the corresponding indirect utility function. Writing x for the vector of quantities and y for the vector of prices (each divided by income),3 while 4 and ,G, denote a direct and indirect utility function respectively, a preference ordering is self-dual if it has a +(x) that is the same kind of function of x as at least one jGr(y) is of y. If so, the demand functions x=f(y) and the inverse demand functions y=g(x) must also have the same form. More precisely, there must be a function F such that x=F(y, A) and y=F(x, B), where A and B are sets of m parameters;4 note that Fis a single function, not a class of functions involving arbitrary parameters. Substituting the expression for y into that for x we get the functional equation