... . London : Macmillan . Taussig F. W. 1894 . “The Wages-Fund Doctrine at the Hands of German Economists.” Quarterly Journal of Economics 9 ( 1 ): 1 – 25 . forced saving The General Theory A Treatise on Money John Maynard Keynes Fundamental Equations production time lag...

... . Estimation of Production Function Parameters and Testing for Efficiency . Econometrica 23 : 325 – 26 . ———. 1957 . Estimation of Agricultural Resource Productivities Combining Time Series and Cross-Section Data . PhD diss. , University of Chicago . ———. 1958 . Simultaneous Equations Bias...

.... 254 History of Political Economy 28:2 (1996) 2. Attempts to construct a dynamic theory have recently been proceed- ing upon another line, namely by the study of time lags between certain adjustments. By the introduction of an appropriate lag the tendency of a system to oscillate can...

... technical feasibility had been established and the time it was introduced, and call that interval a “lag,” the term would be grossly misleading. For what is ultimately of interest in introducing a new product is its economic feasibility. So long as natural rubber was available at low cost...

... (from A to B) along the initial short-run Phillips curve.) The higher nominal wages paid to a larger number of workers exert upward pressure on the prices of final products; increases in output exert downward pressure on final-product prices. And with the passage of time, workers begin to get...

... economic life.” At a minimum, dynamics must exist as “a qualitative analysis of the phenomena of change.” With respect to wages, Clark suggested that dynamic analysis must center on the time lags in adjustment between the standard of marginal product and actual pay (407). In addition he admitted...

... consideration of the business cycle (with the addi- tion, of course, of government expenditure and taxation). A closed economy is assumed, in which money-wage rates are given, and there is no workers’ saving. The time lag between investment decisions and the resulting investment is at least as long...

... point in time-series model specification, that is, whether the relations were dynamic, as lagged variables were included in the regressions. They complained that existing studies did not seriously take lagged variables into account. They argued that, first, numerous experiments were required...

... of correspondence with Robertson. Yet another similarity between Robertson (1926) and Bernácer (1922) can be found in the assumption of the existence of a lag in the production process. The Robertsonian lag in Banking Policy depended partly upon the length of time which elapses between the date at which...

... to the analysis of economic time series. In the 1920’s, several advances on the statistical front-including new techniques of time-series decom- position, trend and cycle analysis, distributed-lag analysis, and price- index construction-grew out of or were employed in tests of the quantity theory...

... to the allocation of resources over time; this because the banking system’s activities would interfere with the interest rate’s capacity to induce a time structure of production compatible with households’ plans for future consumption. Those Swedish economists known as the “Stockholm school” focused on how ex...

... linking the behav- ior of prices to the supply of money, but as a theory of the demand for money. After an unfortunately long time-lag, Don Patinkin (1969) would dispute this claim, arguing that the 1930s Chicago tradition as evidenced Laidler and Sandilands / Reply to James Ahiakpor...

... Market Borrowing to Finance the Production of Goods Sold for Future Delivery (February) and Expansion of Fixed and Working Capital by Open Market Borrowing (April). Reflecting Mints s specialization at that time in the area of financial organization, neither of these articles had anything to do...

... of capital” (Observations, p. 100; also Rent, p. 216). Also: “Corn and labour rarely march quite abreast” (Rent, p. 215, n. 17). But even if they were to keep pace-that is, change in the same direction at the same time-money wages would still tend to lag behind the money price of corn...

...- ably representative index of prices of final products [1966, p. 3781. Warburton saw no reason to adopt 100 percent banking as part of the monetary rule. A 100 percent banking structure would produce only marginal benefits in implementing the growth rule while at the same time...

... . Garrison, R. 1995 . Linking the Keynesian Cross and the Production Possibilities Frontier. Journal of Economic Education 26.2 : 122 -30. ____. 2001 . Time and Money: The Macroeconomics of Capital Structure . London:Routledge. ____. 2002 . Business Cycles: Austrian Approach. An Encyclopedia...

... of demanding higher wages.” Their wages are spent on goods and ser- vices, stimulating additional production: ‘‘The farmer and gardener, finding that all their commodities are taken off, apply themselves with alacrity to the raising more; and at the same time can afford to take better and more...

... analog of the economic system. K represents Keynes s propensity to consume; F1(t) is the time-lag between the decision to invest and the purchase of capital goods; N1(t) and N. stand for nonlinear functions that diminish increases in production as unemployment approaches zero. Shotgun Weddings in Control...

... coincides with the rise ofcentral banking, for that epoch produced the statisti- cal indicators that central bankers employ in conducting monetary and credit policy. So plentiful did the indicators become that officials were often forced to choose among them. At other times, however, choice was hardly...

... York Times in connection with his evidence and advocated that the president organize a national conference of business and labor leaders in order to obtain their agreement to refrain from wage increases beyond what was compatible with labor productivity growth.13 The other Senate committee...