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History of Political Economy (2011) 43 (2): 347–352.
Published: 01 June 2011
... Christine . 2010 . Can Weak Substitution Be Rehabilitated? Environmental and Resource Economics 45 ( February ): 203 – 21 . Smith Vernon L. 1985 . Comment on Property Rights: Developing the Characteristics of Interests in Natural Resources . In Progress in Natural Resource Economics...
History of Political Economy (2017) 49 (1): 137–159.
Published: 01 March 2017
... introduced Lucas to his island model, which would be eventually adopted by Lucas (1972). I also argue that Prescott helped Lucas in the substitution of the adaptive expectations with the criticized regressive effect hypothesis by the rational expectations hypothesis, by working on its mathematical definition...
History of Political Economy (2009) 41 (Suppl_1): 182–199.
Published: 01 December 2009
...Robert W. Dimand; Steven N. Durlauf Although Tobin 1955 was one of the founding papers of the neoclassical one-sector growth model with smooth substitution between capital and labor, James Tobin's contributions to long-run growth theory throughout his career stood apart from other neoclassical...
History of Political Economy (2014) 46 (suppl_1): 252–271.
Published: 01 December 2014
... at that controversy from the perspective of MIT, trying to establish why Samuelson and Solow became so involved. It is argued that Robinson was challenging propositions about linear models and their relationship to models with smooth substitution, on which they had been working, in Samuelson’s case, since the 1940s...
History of Political Economy (2020) 52 (4): 621–652.
Published: 01 August 2020
...Jeff Biddle The CES production function was introduced to economics in the 1961 paper “Capital-Labor Substitution and Economic Efficiency,” by Kenneth Arrow, Hollis Chenery, Bagicha Minhas, and Robert Solow. The paper had an immediate and substantial impact on economic research, and the CES...
History of Political Economy (2009) 41 (Suppl_1): 67–87.
Published: 01 December 2009
... for this “knife-edge” problem in the absence of any adjustment mechanism and based his alternative model on substitution between capital and labor in production and flexibility of factor prices. This article focuses on Solow's motivation and the main content of his approach in reaction to Harrod and Domar's...
History of Political Economy (2017) 49 (Supplement): 213–239.
Published: 01 December 2017
...H. Spencer Banzhaf As economists took up the task of measuring the “demand” for environmental services not traded in markets, some chose to substitute survey-based methods known as contingent valuation (CV). Doing so, they could not help but find themselves in the uncomfortable position of self...
History of Political Economy (2018) 50 (S1): 152–171.
Published: 01 December 2018
.... The crisis of structuralism in the latter 1960s, following the exhaustion of “easy” import substitution, ultimately resulted in “neostructuralism” in 1990, a reformed version of the doctrine that emphasized greater equity in income distribution, expansion of export markets, aggressive pursuit...
History of Political Economy (2006) 38 (Suppl_1): 48–85.
Published: 01 December 2006
.... Ezekiel, Mordecai. 1927 . A Statistical Examination of Factors Related to Lamb Prices. Journal of Political Economy 35 : 233 -60. ____. 1933 . Some Considerations on the Analysis of the Prices of Competing or Substitute Commodities. Econometrica 1 : 172 -80. Fanno, Marco. 1926...
History of Political Economy (1972) 4 (1): 89–112.
Published: 01 March 1972
.... In line with the bi- metallist notion, we make three assumptions : (i) Gold and silver are useful for both monetary and nonmon- etary purposes. (ii) They are perfect substitutes for monetary purposes but im- perfect substitutes for nonmonetary purposes.* (iii...
History of Political Economy (2005) 37 (2): 293–307.
Published: 01 June 2005
...- neered the classic distinction between complements and substitutes that is based on the signs of the second-order cross partial derivatives of the utility function. According to this distinction, we begin by assuming the existence of a utility function deﬁned over n goods, x1xn: U = f (x1xn...
History of Political Economy (2006) 38 (Suppl_1): 32–47.
Published: 01 December 2006
... . A Reconsideration of the Theory of Value. Pts. 1 and 2. Economica , n.s., 1.1 : 52 -76; 1.2:196-219. Johnson, W. E. 1913 . The Pure Theory of Utility Curves. Economic Journal 23 : 483 -513. Lerner, A. P. 1933 . The Elasticity of Substitution: II—the Diagrammatical Representation. Review of Economic...
History of Political Economy (2012) 44 (4): 643–661.
Published: 01 November 2012
... A. 2010 . “ The Lerner Diagram .” In Famous Figures and Diagrams in Economics , edited by Blaug M. Lloyd P. . Cheltenham : Edward Elgar . Dixon R. 2010 . “ The Elasticity of Substitution .” In Famous Figures and Diagrams in Economics , edited by Blaug M. Lloyd P...
History of Political Economy (1989) 21 (1): 43–56.
Published: 01 March 1989
... a substantial part of total income and consumption. Mill’s analysis of the effect of price on quantity demanded relies on the income efect of price changes ,25 although he clearly recognized substitut- ability among commodities. Hollander shows that Mill’s 1864-65 corre- spondence...
History of Political Economy (1999) 31 (2): 393–416.
Published: 01 June 1999
..., including the concepts of income and substitution effects, the negativity of the own substitution effect, and the symmetry of compensated cross-price effects, were originally 6. Jiirg Niehans (1990) presents Slutsky’s success within the Soviet establishment as one of several pieces...
History of Political Economy (1973) 5 (1): 001–013.
Published: 01 March 1973
.... Before commenting directly upon this, it might be well to note that most neoclassical writers do not accept the theory of factor-price induced bias in inventions.8 One reason for rejection has been well expressed by Salter, and it helps to point up the confusion between factor substitution...
History of Political Economy (2002) 34 (3): 553–597.
Published: 01 September 2002
... . Elasticity of Substitution Again:Substitutes and Complements. Oxford Economic Papers ,n.s., 22 (November): 289 -96. Revised version, “ Elasticity of Substitution Reconsidered ,” in Hicks 1983 , 312 -26. ____. 1979 . The Formation of an Economist. Banca Nazionale del Lavoro Quarterly Review...
History of Political Economy (1997) 29 (3): 523–548.
Published: 01 September 1997
.... Economica 11 (November): 64-73. Reprinted in Lavoie 1994, 107 -23. Lachmann , L. M. . 1947 . Complementarity and Substitution in the Theory of Capital. Economica 14 :108-19. Reprinted in Grinder 1977, 197 -213. Lachmann , L. M. . 1948 . Investment Repercussions. Quarterly Journal...
History of Political Economy (1983) 15 (4): 513–517.
Published: 01 November 1983
... dtconomie po- litique (1896-1897), in which Pareto substituted the term ophtlimiti for utility in order to avoid any philosophical or psychological connotation. In the Manual (Pareto 1971) he began his Mathematical Appendix with a discussion of ordinal utility-an extension of the work by P...
History of Political Economy (1986) 18 (3): 485–495.
Published: 01 September 1986
... in this area are impres- sive. They include: his early recognition of the potential for substitution among inputs; his realization that this potential implies that firms must choose among alternative production techniques; and his insight that the firm’s optimal decision with regard to production...