I should like to correct an error which slipped into my article, “The German Bank Act of 1934,” in Vol. II, No. 3, of this Review, p. 217. The phrase, “This ratio also implies a limit, but in contrast to the cash ratio, it is a maximum limit” should read: “This ratio is imposed by the law as a minimum, as in the case of the cash ratio; but in reality it will figure as a maximum as long as the cash ratio is. far from being reached, and the assets forming this second line of defence will be the only means to fill up the first.” The remainder of the paragraph shows the reasons for this assumption.

Journal Article Commodity Stocks and Equilibrium Get access L. M. Lachmann L. M. Lachmann London Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 3, Issue 3, June 1936, Pages 230–234, https://doi.org/10.2307/2967631 Published: 01 June 1936

Journal Article Further Notes on Index Numbers: II. Mr. Lerner's Supplementary Limits for Price Index Numbers Get access M. F. W. Joseph M. F. W. Joseph Geneva Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 3, Issue 2, February 1936, Pages 155–157, https://doi.org/10.2307/2967511 Published: 01 February 1936

CERTAIN questions have arisen' concerning my macrodynamic theory of business cycles2 which I consider of sufficient importance to warrant a detailed answer. I also wish to complete some parts of my original study which I think were presented too briefly. 1. Tinbergen makes the statement concerning my original article that, remarkably enough, prices do not appear at all in the theory.3 It can be easily shown that in reality my basic equation implies the dependence of investment activity on the ratio of prices to wages. My basic equation was4

I. General Marketing Channels, 659. — Graphic Summary, 663. — II. Wholesale Marketing, 664. — Relative Importance of Different Types, 665. — Expenses, Credit, Wages, 668. — Organization, 570. — Size, 670. — Chains, 671. — Geographic Distribution, 671. — III. Retail Marketing, 672. — Expenses, Stocks on Hand, Credit, 672. — Organization, 674. — Size, 675. — Chains, 676. — Geographic Distribution, 677. — Conclusion, 677.

Introduction, 275.— I. Economic and historical background, 276.— II. Relative effects on producers, consumers and distributors, 280.— III. Relative gains of different producer groups, 284.— IV. Problems of production control, 287.— V. Consumption and marketing, 292.— VI. Comparison with the A.A.A. dairy program, 294.