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  • Blackwell Publishing Ltd  (6,725)
  • 1975-1979  (6,725)
  • 1960-1964
  • 1979  (3,512)
  • 1977  (3,213)
  • 1
    Electronic Resource
    Electronic Resource
    THE TREATMENT OF “HOME OWNERSHIP” IN THE CPI (1979)
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 25 (1979), S. 0 
    Details
    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper explores the imputed service price approach to the pricing of the services of consumer-owned-and-used durables in the construction of the consumer price index, using the services of owner-occupied housing as an illustration. A theoretical framework for analyzing this question is first developed. Certain practical problems are then discussed. The conceptual difficulty of constructing an appropriate rate of return on the basis of available data on interest rates and house prices, in the context of inflation, is explored. Two arguments are advanced that statistical agencies ought not to follow the imputed service price approach in pricing the services of owner-occupied dwellings and other consumer durables. On the one hand, nominal interest rates will, in any short period, reflect monetary policy and not any change in the money “rental” of owner-occupied houses. Second, movements in nominal interest rates will also reflect changes in the money price of pure consumption goods, as well as changes in the money price of houses. The argument is extended to other consumer durables and, in the limiting case, to monetary balances, and it is concluded that in all but trivial cases the application of the service price approach leads to price movements of little or no meaning.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1475-4991.1979.tb00115.x
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  • 2
    Electronic Resource
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    THE WORLDWIDE INCOME DISTRIBUTION: SOME SPECULATIVE CALCULATIONS (1979)
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 25 (1979), S. 0 
    Details
    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper uses a variety of assumptions to produce calculations of worldwide income distributions from recent international data compilations. The variable quality of the source materials in these compilations along with the arbitrariness in the assumptions required are emphasized. A number of working hypotheses for the worldwide income distribution are offered until data and methods improve. It is suggested the top 1 percent of world population may receive 10–15 percent of world income, the top 10 percent from 45–65 percent, and the bottom 20 percent from 1–4 percent. These figures seem more unequal than those for domestic distributions even for more inegalitarian countries.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1475-4991.1979.tb00099.x
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  • 3
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    THE BROADENING OF INCOME TO INCLUDE CAPITAL GAINS: RESULTS FOR BELGIUM (1979)
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 25 (1979), S. 0 
    Details
    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1475-4991.1979.tb00103.x
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  • 4
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    ON GOODS AND SERVICES (1977)
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 23 (1977), S. 0 
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    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The paper is concerned with the concept, definition and measurement of a service. Although services are often dismissed as immaterial goods, they are not special kinds of goods and belong in a quite different logical category from goods. The search for appropriate units of quantity in which to measure services is not an idle metaphysical pursuit. Without quantity units there can be no prices, and most economic theory becomes irrelevant. Indeed, large parts of economic theory may be irrelevant to the analysis of services anyway, precisely because they are not goods which can be exchanged among economic units. Services are as important as goods in modern developed economies and they need to be identified and quantified properly if the measurement of economic growth and inflation is to have any meaning for the economy as a whole. The concept of a service is explained in some detail in the paper, and various ways in which services can be classified for purposes of economic analysis are elaborated. The distinction between private and public goods, or rather between private and collective services, is re-examined in the light of the general concept of a service proposed in the paper. Externalities are shown to be simply special kinds of services.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1475-4991.1977.tb00021.x
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  • 5
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    STOCHASTIC PROCESS MODELS AND THE DISTRIBUTION OF EARNINGS (1977)
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 23 (1977), S. 0 
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    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This article examines several hypotheses concerning the stochastic nature of year to year variations in individual incomes in light of newly available microdata on individual earnings. In particular, the models of Solow (1951), Champernowne (1953), and Rutherford (1955) are examined in some detail, and their predictions as to changes to be expected in the distribution of individual incomes are tested. The author concludes that the distributions arrived at using these models are not very similar either to each other or to the actual distribution of earnings. Thus, he believes that as an “explanation” of earnings dynamics stochastic process models are unsatisfactory. He further criticizes these models on the grounds that they foster a bias toward the belief in the inevitability, and perhaps desirability, of the current distribution of earnings.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1475-4991.1977.tb00014.x
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  • 6
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    SCHOOLING AND OCCUPATIONAL EARNINGS (1977)
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 23 (1977), S. 0 
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    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper investigates the relation between schooling and earnings across and within occupations. Across occupations earnings are positively related to mean education. Within occupations the variance in schooling levels is generally substantial, but within two thirds of the occupations no relation between schooling and earnings is observed, while in the remaining third the pattern of sensitivity varies considerably. The sensitivity of earnings to education is greater for white males than white females and substantially greater for whites than blacks. When the white sample is divided into age cohorts, the degree of sensitivity of earnings to schooling is found to be greater for younger cohorts than older ones, except for the youngest cohort in 1970. In the conclusion, a structural interpretation of the distribution of earnings is proposed to account for the findings.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1475-4991.1977.tb00017.x
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  • 7
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    ON THE MEASUREMENT OF INHERITED WEALTH (1977)
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 23 (1977), S. 0 
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    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1475-4991.1977.tb00020.x
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  • 8
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    DEVELOPMENT OF ESTIMATES OF THE STOCK OF FIXED CAPITAL IN THE UNITED KINGDOM (1977)
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 23 (1977), S. 0 
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    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The historical background and present methodology used in compiling the U.K. official estimates of the stock of fixed capital are described. Mention is made of the possibility that with the development of commercial accounting direct estimates of capital stock may be derived from enterprise accounts at some future time. For the present, however, an indirect perpetual inventory approach is followed. Some of the deficiencies of the present estimates are discussed including the effects of possible biases in the life-length assumptions, price indices and the treatment of secondhand assets. Estimates of gross capital stock are given analysed by industry group of ownership and by type of asset.Some conceptual issues are discussed in relation to user requirements, including the distinction between the stock of capital and the flow of services from it.The authors conclude that little can be done to improve the perpetual inventory estimate of fixed capital in the U.K. without devoting more resources to the collection and analysis of new information, particularly on the service lives of fixed assets, the extent of leasing and the transfer of assets between industries.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1475-4991.1977.tb00007.x
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  • 9
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    THE MEASUREMENT OF CHANGES IN QUALITY (1977)
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 23 (1977), S. 0 
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    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper is concerned with the theoretical problems of devising indexes of quality change and with some of the practical problems of constructing such indexes from market data, relating these to the various attempts to construct such indexes in the past. The general conclusion is that, while quality is inherently ordinal, there are three different indexes which might be taken as “measures” of quality change. If changes are sufficiently small, the values of all three indexes will coincide and then, only, can we consider any one of them to be an unambiguous measure of the change.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1475-4991.1977.tb00009.x
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  • 10
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    COMMENTS ON DAN USHER'S “THE MEASUREMENT OF REAL INCOME” (1977)
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 23 (1977), S. 0 
    Details
    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1475-4991.1977.tb00011.x
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  • 11
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    THE EFFECT ON POVERTY STATUS IN ISRAEL OF CONSIDERING WEALTH AND VARIABILITY OF INCOME (1977)
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 23 (1977), S. 0 
    Details
    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper assesses the effects of including wealth and the variability of income on the incidence of poverty and the degree of income inequality in Israel. A special survey, which includes data on the wealth and income of a national sample of Israeli families in 1963–64 and 1964–65, allows us to go beyond measures based on current income alone.The first section reviews earlier studies of poverty in Israel. The next section looks at poverty and inequality in terms of current income, current wealth, and a combined measure of income and wealth. The combined measure is the Hansen-Weisbrod measure (HW), which equals income plus the annuity value of wealth, assuming all wealth is just consumed at the time of death. It is interesting that, in spite of the much higher wealth inequality than income inequality, the HW measure was slightly more equally distributed than income. This result occurred because the annuity component made up a low share of the total HW measure and the correlation between income and wealth was well under 1. Although overall inequality and poverty were similar for income and HW measures, the incidence of poverty by subgroup depended on the measure used.The final section presents a dynamic view of poverty and inequality. Year-to-year changes in poverty were substantial. Because of the use of a relative poverty concept and the rise in real incomes, the real income poverty line rose by 15 percent between 1963 and 1964. Still, of those in income poverty in 1963, 37 percent managed to escape poverty in 1964. The paper shows how the degree to which poverty was stable or transitory varied substantially by age and country of origin.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1475-4991.1977.tb00002.x
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  • 12
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    INCOME INEQUALITY IN URBAN COLOMBIA: A DECOMPOSITION ANALYSIS (1979)
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 25 (1979), S. 0 
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    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The persistence of poverty and income inequality in less developed countries (LDCs) is a source of serious concern to development economists. To understand the structure of inequality, several researchers using a variety of methodologies have measured the importance of various contributory factors to overall income variability. The available literature—which now includes studies of Brazil, Mexico, Iran, the Philippines, Taiwan, Thailand, Pakistan, and Colombia-has been reviewed elsewhere (Fields, forthcoming). This paper presents additional evidence for urban Colombia, in the process raising some important methodological issues which bear on the design of future research studies.The data set used in this paper is described in Section I. The decomposition of Colombian inequality by functional income source is presented in Section 11 for micro data. Section I11 examines the robustness of source decomposition procedures to data aggregation. Section IV presents inequality decompositions by city, and Section V by other income-determining characteristics. Conclusions appear in Section VI.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1475-4991.1979.tb00102.x
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  • 13
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    THE DISTRIBUTIONAL EFFECTS OF THE 1969–75 INFLATION ON HOLDINGS OF HOUSEHOLD WEALTH IN THE UNITED STATES (1979)
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 25 (1979), S. 0 
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    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Using a simple simulation model, this paper assesses the impact of relative movements in asset prices on the distribution of wealth during the 1969–75 period. Because of the strong negative correlation between wealth level and the ratio of debt to wealth, this particular inflation induced a substantial drop in the overall level of wealth inequality. Moreover, comparing the portfolios of different demographic groups, we found that middle-aged households gained relatively to younger and older ones, married couples gained relatively to singles, whites gained relatively to non-whites, and home-owners gained relatively to renters. The biggest gainers from this inflation were home-owners with large mortgages and the biggest losers the large stock holders.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1475-4991.1979.tb00093.x
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  • 14
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    STOCKS AND DEPRECIATION OF HUMAN CAPITAL: NEW EVIDENCE FROM A PRESENT-VALUE PERSPECTIVE (1979)
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 25 (1979), S. 0 
    Details
    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Responding to a perceived growing interest in human wealth estimates, this paper offers a framework for measuring the aggregate stock of human capital and then implements the procedure for the United States male population age 14 to 75. Unlike previous estimates of human wealth that are based upon historical or resource costs, these estimates measure the capital stock as the discounted resent-value of expected lifetime returns. In the estimation, returns are equated with earnings data from the 1970 U.S. Census 15 percent Public Use Sample for out-of-school males, adjusted for employment and survival probabilities, adjusted for an assumed exogenous growth in future earnings, and discounted at 7.5 percent.We provide cross-sectional estimates of individual stocks of human capital by age and educational attainment, as well as expected lifetime wealth profiles for individuals by level of education. These individual profiles can be used to obtain direct estimates of age-specific depreciation which suggest human capital is subject to significant and prolonged appreciation before nearly straight-line depreciation begins around middle age. This finding is all the more significant since resource-cost estimates of human capital which must assume a depreciation pattern to obtain stocks have always imposed a much faster rate much sooner.Finally, an aggregate estimate of the stock of human capital for all males is supplied and its sensitivity to the choice of the discount rate, tax laws, and expected exogenous growth is analyzed. This seemingly-conservative stock estimate is then compared to a much lower resource-cost estimate offered recently by John Kendrick. A discount rate over 20 percent would be needed to equate the two measures. In trying to reconcile the two figures, we raise some new questions about the validity of both approaches for human capital accounting.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1475-4991.1979.tb00094.x
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  • 15
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    TRACING PRICE CHANGES THROUGH STAGES OF PRODUCTION: AUSTRALIA, 1968 TO 1977 (1979)
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 25 (1979), S. 0 
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    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This study is concerned with an effort to analyze changes in costs and prices in the Australian economy by tracing the effects of changes in wages and import prices through the stages of production, using a disaggregated input-output model with lags. The object of constructing the model was to improve, by introducing lags, the accuracy of predictions of the effect of cost changes on prices, and to show the lag structures. Data problems encountered are discussed, and the need for integration of price statistics to enhance their usefulness for analyses such as this is emphasized. Concepts and sources of data are discussed in some detail in an appendix.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1475-4991.1979.tb00074.x
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  • 16
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    PRICE ANALYSIS AND A SYSTEM OF PRICE STATISTICS (1979)
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 25 (1979), S. 0 
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    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: For some considerable time the interest in price statistics has mainly been focused on their use as “intermediate goods”. The requirements of a system of price index numbers which have to be established in this connection are largely in the field of statistical coordination (integration of statistics on quantities, values and prices).Recently the inflation problem has given rise to an increased interest in price statistics as “final goods”. A meaningful analysis of inflation will devote attention to the relation between input prices and output prices. In this article several versions of an analysis of prices of final demand categories based on an ordinary Leontief input-output scheme are presented and the needs for price statistics are discussed. In fact a self-contained system of price statistics emerges from the price analysis.There is a difference in the nature of the price index numbers required in compiling input-output tables in constant prices (Paasche) and that in the case of price analysis (Laspeyres). However the need for price observation runs largely parallel because in both cases the same detailed information on price developments will probably be used.Price analysis gives the possibility of a step-by-step approach in building up a system of price index numbers.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1475-4991.1979.tb00076.x
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  • 17
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    Announcement (1979)
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 25 (1979), S. 0 
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    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1475-4991.1979.tb00080.x
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  • 18
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    INTERNATIONAL ASSOCIATION FOR RESEARCH IN INCOME AND WEALTH (1977)
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 23 (1977), S. 0 
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    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1475-4991.1977.tb00012.x
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  • 19
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    ESTIMATES OF CAPITAL STOCK BY INDUSTRIES IN THE FEDERAL REPUBLIC OF GERMANY (1977)
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 23 (1977), S. 0 
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    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The main purpose of this paper is to discuss some of the measurement problems in connection with the perpetual inventory method applied for estimates of capital stock. In the Federal Republic of Germany, highly aggregated capital stock data by business sector are compiled by the Federal Statistical Office within its national accounts calculations, while more detailed capital stock estimates by industrial sectors are published by the German Institute of Economic Research (DIW) in Berlin. Because of various gaps in the statistical sources, the accuracy of the capital stock calculations is not yet entirely satisfactory. Aside from the problem of establishing long time series for gross fixed capital formation in constant prices for all sectors, it is difficult to obtain reliable data on the inter-sectoral transactions in secondhand capital goods. In addition, there are problems of determining price indices and service life distributions of the fixed assets in the various parts of the economy. This paper shows a way to arrive at a reasonably close approximation to the latter problem.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1475-4991.1977.tb00004.x
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  • 20
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    TOWARDS A DEFINITION OF NON-MARKET ACTIVITIES (1977)
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 23 (1977), S. 0 
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    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Recent attempts to measure value of household work and other non-market activities have been based on a simplistic interpretation of Opportunity Cost of Time Theory; this paper attempts to refine this and develop practical definitions from basic Utility Theory. First a distinction is made between economic and other activities, the former being the only ones subject to dollar-measurement; we recognize economic activities can occur outside the market and focus our analysis upon these latter. In the framework of Becker-Lancaster a Household-Production Function is posited which produces jointly such non-market economic activities-called indirect utility-and welfare or satisfaction- called utility. A criterion for identifying the indirect utility activities (Third-Person Criterion) is outlined, and related to time-use survey data.Finally, four practical estimation methods are outlined: simple opportunity cost of time; gross replacement cost; individual function replacement cost; and the full production function approach. This latter, which includes evaluation of capital contributions, is deemed theoretically most valid but for present purposes least practical because of lack of data on domestic capital stock. The paper concludes that there exists both a theoretical basis for valuing non-market activities, and the necessary data to apply the formulas developed.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1475-4991.1977.tb00005.x
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  • 21
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    NOTES AND MEMORANDA PARETO AND THE DISTRIBUTION OF INCOME (1977)
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 23 (1977), S. 0 
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    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1475-4991.1977.tb00026.x
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  • 22
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    ON THE BIASES IN FOREIGN TRADE INDICES (1977)
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 23 (1977), S. 0 
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    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Starting out from the observation that both imports and exports may be viewed as the difference between domestic consumption (use) and production, static standard theory of biases in consumption and production indices is brought to bear upon trade indices: Laspeyres tends to overrate when applied to imports and to underrate when applied to exports; for Paasche, the opposite holds true. Hence, terms of trade tend to be underrated (exaggerated) when based upon Laspeyres (Paasche) price indices. The problem of extending these conclusions to the case of changes in production frontiers and preference maps is discussed. When homotheticity is absent, correlation between price and quantity relatives may upset the simple conclusions. This is of special importance in the large-country situation. Dynamics further complicate the situation. A cobweb mechanism in exports may thus reverse the static results.
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    URL: http://dx.doi.org/10.1111/j.1475-4991.1977.tb00025.x
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  • 23
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    LABOR INCOME DIFFERENTIALS WITHIN THE LATIN AMERICAN FREE TRADE AREA (LAFTA) (1977)
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 23 (1977), S. 0 
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    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This article considers the major results of a study of relative wage structures in the LAFTA region. It first discusses the nature and methodology of the study, which was undertaken for ECIEL. Data on the size of labor income differences are introduced, and an attempt is made to determine the causes of such differences, and to relate them to various wage differentials. The main findings of the study are then summarized, with discussions of inter-country, intra-country, and occupational labor income differentials and their causes. Finally, the results of the study are updated to the end of 1970, and some conclusions are derived regarding the inter-temporal behavior of wages in LAFTA.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1475-4991.1977.tb00015.x
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  • 24
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    WELFARE ECONOMICS AND THE MEASUREMENT OF NNP (1977)
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 23 (1977), S. 0 
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    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Some relationships between NNP and economic welfare are explored in the confines of a simple, static welfare maximization model. Various assumptions concerning both the measurement of NNP and the economic system underlying this model are dropped seriatem and the implications for the correspondence between NNP and economic welfare are examined.The following conclusions emerge. There are several classes of resource reorganization in which NNP and welfare move in the same direction, so that NNP can serve as an ordinal proxy for welfare. These include changes in taxes or competitive imperfections which result in product substitution and movements along the transformation function.With a general qualification, NNP-welfare correspondence is preserved for allocative changes which affect the real costs and prices of goods included in NNP or of non-included goods in inelastic demand; changes in involuntary unemployment; and changes in technological externalities affecting producers. There are other cases where changes in NNP and welfare are not positively correlated. Included here are changes in real costs of non-included goods for which demand is elastic and changes in technological externalities imposed on consumers.
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    URL: http://dx.doi.org/10.1111/j.1475-4991.1977.tb00018.x
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  • 25
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    CONCEPTUAL AMD STATISTICAL ISSUES IN DEVELOPING ENVIRONMENTAL MEASURES-RECENT U.S. EXPERIENCE (1977)
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 23 (1977), S. 0 
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    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The purpose of this paper is to describe the conceptual and statistical basis of the estimates of United States public and private spending for pollution abatement and control (PAC) prepared by the Bureau of Economic Analysis, U.S. Department of Commerce. The concepts and definitions were designed to ensure comparability with the national economic accounts since much of the analysis of the effects of environmental programs on the economy is conducted with the aid of the accounts. The work to date has been limited to pollution associated with harmful “foreign” substances and forms of energy discharged in the course of production, distribution and consumption. The conceptual base includes evaluation of benefits, but estimates completed thus far are limited to the cost of pollution abatement and control.Definitions are given for pollution, pollution abatement, direct pollution abatement cost, indirect pollution abatement cost and indirect benefits. A framework for the estimation and presentation of PAC expenditures is developed and the estimate of U.S. PAC expenditures for 1972 and 1973 is presented. A brief chronological summary of the BEA project is also provided.
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    ASSESSING THE QUALITY ERROR IN OUTPUT MEASURES: THE CASE OF REFRIGERATORS (1977)
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 23 (1977), S. 0 
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    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper computes new indexes of output for refrigerators, using hedonic methods to adjust for quality change. The hedonic technique is applied in a new way (it is used to make quality adjustments to prices before they are used in the index), and the results are compared with those from methods used in previous hedonic investigations.There are three major findings. (1) Overall (1960–1972), our hedonic deflated output series rise more rapidly than conventional measures, because the price indexes used for deflation rise more slowly. (2) The output measures fluctuate more than do output measures produced by conventional methods, because adding hedonic quality adjustments to WPI indexes moves them up in some years and down in others, and the resulting adjustments to the output series were positively correlated with changes in output. (3) Applying methods used in previous studies produces larger adjustments to the published indexes, suggesting that some of the differences noted in previous studies between hedonic indexes and official published indexes are related to computational methods, not to quality adjustment.
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    THE INCOME UNIT AND THE ANATOMY OF INCOME DISTRIBUTION (1979)
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 25 (1979), S. 0 
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    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper focuses on a neglected aspect of the treatment of the income unit in the construction of size distributions of income. If the size distribution is to be an indicator of the distribution of economic welfare, and if the economic welfare of each individual in society is to count equally, then conventional distributions are inconsistent with individualistic welfare functions. We estimate size distributions with each person's welfare weighted equally, and contrast these results with those weighting each household unit's welfare equally. The choice of weights is shown to affect both the level and the trend in income inequality.
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    EXPANDING IMPUTED VALUES IN THE NATIONAL INCOME AND PRODUCT ACCOUNTS (1979)
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 25 (1979), S. 0 
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    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: After defining economic activity the author lists the chief types of non–market economic activities for which he has prepared estimates for the United States 1929–1973, and briefly describes his methodology and data sources. Some major findings are:(1) As of 1973 GNP adjusted to include the additional imputations was 63.5 percent larger than the official estimate.(2) At least since 1929 imputed values have grown faster than official GNP, especially when both are measured in terms of real factor costs.(3) The personal sector comprises a far larger portion of the national economy-almost one-third—when account is taken of imputed labor and property compensation, and its relative importance has grown.(4) Gross government product is more than 60 percent higher when the imputed rental value of public property is added to the compensation of general government employees.(5) Reflecting the relative growth of non-business wealth, imputed property income has risen much faster than monetized property income. This has mitigated the decline in the property share of expanded gross national income compared with its share in the official estimates.
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    ON MEASURING POVERTY (1979)
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 25 (1979), S. 0 
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    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper investigates the properties of various measures of poverty and of the “difficulty of alleviation of poverty”. It is found that the ranking properties of both kinds of indices can be quite counter-intuitive and that they could be misleading if used for policy evaluation. An alternative index is proposed; it is compared to the other indices and seems to fare rather well. To illustrate, a special reference is made to S. Anand's recent article on poverty in Malaysia.
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    ON THE SIZE DISTRIBUTION OF WEALTH IN CANADA (1979)
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 25 (1979), S. 0 
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    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper is concerned with measurement of the size distribution of personal wealth in Canada. The only available estimates of this distribution are those provided on the occasions when Statistics Canada's Survey of Consumer Finance has surveyed assets and debts. Results of the latest “SCF” to do this, that of 1977, are not yet available. The paper shows that the previous study, conducted in 1970, indicated wealth-inequality as viewed by top quantile shares roughly of the same order as estimated by others for the U.S. and U.K. A comparison of asset and debt aggregates implied by the survey, however, with independent totals indicates that for almost all items the SCF likely under-estimated true holdings. The possible relative importance of sampling and non-sampling errors in explaining this distortion is considered, drawing on Monte Carlo evidence and American validation studies of survey response. It is concluded that sampling error is unlikely to provide the explanation for SCF discrepancies in aggregates, but that non-sampling error is capable of doing so. Finally the 1970 SCF distribution of wealth is re-estimated. First a correction is made for hypothetical differential response according to true net worth. Second an attempt is made to remove the effects of under-reporting by respondents. The “best-guess” re-estimated distribution exhibits mean net worth considerably greater than shown by the SCF but only a slightly greater degree of concentration. Under certain fundamental assumptions this result is surprisingly robust. The appropriate conclusion is not that survey estimates of the distribution of wealth are reliable, but that the strong non-sampling errors affecting the 1970 Canadian SCF wealth estimates may have been composed of almost completely offsetting sources of bias.
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    POTENTIAL GNP IN THE UNITED STATES, 1948–80 (1979)
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 25 (1979), S. 0 
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    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Potential gross national product (GNP) is a measure of the aggregate supply capability of an economy, or the amount of output that could be expected at full employment. Such a measure of output at constant rates of labor and capital utilization is useful as a benchmark for economic performance, calculation of the full employment surplus as an indicator of fiscal policy, and in the projection of unemployment rates. Potential GNP for the United States is estimated for the years 1948–77, and projected for 1978–80. The calculations use a variable benchmark for the full-employment unemployment rate, based on the changing age-sex composition of the labor force, and a constant benchmark for the utilization of fixed capital. A framework for separation of productivity into trend, cycle, and irregular components is developed, and then estimated for the 1948–77 period, using quarterly data. The relationships between various age- and sex-specific unemployment rates are also estimated in construction of the variable unemployment benchmark.
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    A REVIEW OF SELECTED ASPECTS OF THE UNITED NATIONS SYSTEM OF NATIONAL ACCOUNTS IN THE LIGHT OF COUNTRIES’ EXPERIENCES (1979)
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 25 (1979), S. 0 
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    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: A review of the United Nations System of National Accounts and its implementation by countries is presently being conducted at the United Nations Statistical Office. This article presents a personal and selective account by the author of the results of that review and its consequences for the present structure of the SNA.Information is included on the level of response by countries for the tables of the SNA national accounts questionnaire. It shows that this response is at present sparce, except for the tables on GDP by end use, cost structure and kind of economic activity.On the more detailed level the feasibility of introducing integrated sector accounts into the system has been examined and different approaches compared. Country practices suggest that one way of facilitating the introduction of such accounts would be to eliminate one essential feature of the dual classification of the SNA, i.e., the distinction between quasi-corporate and other unincorporated enterprises. Other modifications of the SNA structure implied below are the introduction on a limited scale of articulation of transactions, the inclusion of additional aggregate income and balancing items, a reallocation of data between the main accounts and the supporting tables, and a better integration of the SNA matrix with the accounts and tables of the system. A reduction of the present number of independent classifications in the SNA is suggested, based on links between categories of different classifications that are assumed in country responses to the questionnaire. A suggestion is made for a uniform valuation of goods and services and income flows, to replace the present complex valuation guidelines on approximate basic and factor values and producers’ prices.
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    A NOTE ON THE MEASUREMENT OF INCOME INEQUALITY WITH INTERVAL DATA (1979)
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 25 (1979), S. 0 
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    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1475-4991.1979.tb00096.x
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    THE ESTIMATION OF PRICE EFFECTS IN A SOCIAL ACCOUNTING MATRIX (1979)
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 25 (1979), S. 0 
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    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The estimation of true basic prices in a Social Accounting Matrix (SAM) has long been recognized as necessary in order to achieve uniform valuation of inputs for meaningful manipulation of the input-output table contained in a SAM, in order to assess the real effects of changes in demand, etc. In practice, approximate basic prices only have normally been calculated in order to avoid matrix inversion among other things. It is equally the case that true basic prices are required if one wishes to assess the price-raising effects of commodity taxes. It is shown through an example that approximate basic prices, as conventionally calculated, are inadequate and potentially misleading for this as indeed they are for achieving uniformity of valuation. There are also problems with the present procedure for calculating true basic prices.An alternative method of calculating true basic prices is given, which has various advantages over the existing method, and a new approximate method is also derived which appears to represent a definite improvement on the present method. For the main purpose of the paper, however, the prices of concern are those charged by producers to which the methodology equally applies.
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    ON THE EFFECTS OF DIFFERENT PATTERNS OF PUBLIC CONSUMPTION EXPENDITURES (1977)
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 23 (1977), S. 0 
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    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The multiplier effects resulting from an isolated increase in the level of public consumption within different public branches are investigated and the policy implications are discussed. The article begins with a theorethical analysis which shows why and in which ways these multipliers can be expected to differ between public branches. Thereafter, an empirical investigation is given, based on simulations with an econometric model of the Swedish economy. In this model the public activities are divided into 13 different public branches. The effects of an increase in public consumption on employment, imports and private consumption are found to differ considerably depending on which branch of the public sector is expanded. Some implications for short run stabilization policy are discussed. The article ends with a special analysis of the implications for a medium term planning problem: the trade off between private and public consumption growth. This analysis throws new light on the old topic “private or public consumption”. In an economy with highly differentiated production in the public sector the trade-off is shown not to be unique. The sacrifice of private consumption growth corresponding to a given growth of public consumption expenditures will vary considerably according to the distribution of the public consumption growth within the different branches of the public sector.
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    INTERNATIONAL ASSOCIATION FOR RESEARCH IN INCOME AND WEALTH (1977)
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 23 (1977), S. 0 
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    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
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    URL: http://dx.doi.org/10.1111/j.1475-4991.1977.tb00028.x
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    Announcement (1979)
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 25 (1979), S. 0 
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    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
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    NEW MEASURES OF PRICES AND PRODUCTIVITY FOR TRADABLE AND NONTRADABLE GOODS (1979)
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 25 (1979), S. 0 
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    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Empirical work on the division of real output and prices into tradable and nontradable components has not kept pace with theoretical developments. The conventional proxies of prices and productivity by tradable and nontradable sector are examined and found deficient in several important respects. It is demonstrated that an approach that relies on the long–standing data on gross domestic product by industry of origin can overcome some of these deficiencies. These data are used to construct new annual measures of prices and productivity for tradable and nontradable output for 12 industrial countries over the period 1950–73. While far from precise, the new measures are consistent with the following criteria for distinguishing between tradables and nontradables: the degree of foreign trade participation should be higher for tradables than for nontradables; the degree of international commodity arbitrage, as measured by cross-country correlations of price changes, should be higher for tradables than nontradables; and tradables should be closer substitutes than nontradables for traded goods from other countries (imports).Despite the considerable conceptual advantages of the new measures of prices and productivity over the conventional proxies, correlation analysis indicates that the new and old measures usually move together rather closely in our 12 subject countries. The correlations are higher across the alternative relative productivity measures than for the alternative relative price measures.
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    THE REDISTRIBUTION OF PUBLIC FUNDS IN FRANCE IN 1965 AND 1970 (1979)
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 25 (1979), S. 0 
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    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The analysis of the redistribution processes via taxation, transfers and collective services raises several methodological problems among which tax incidence is not the least important. Through two hypotheses of incidence of employers’ social contribution the results of the redistribution of public funds lead to four types of conclusions. Despite the fact that about one third of the French national income is involved in the processes there is no clearcut evidence of any redistribution, except for the nonactive population in so far pensions are considered as redistributed. The positive effects which certain mechanisms may have (e.g. income tax…) are to a certain extent offset, or neutralized, by the anti-redistributive effects of indirect taxation and social contributions. It appears that the results of the redistribution not only depend on the institution network, on the evolution of demographic structures and the rate of growth for the various types of income but also on lack of adaptation between the evolution of the three groups of factors. In last analysis, the reason why redistribution does not appear to have more far-reaching consequences is that social policy amalgamates mechanisms often set up in isolation, whereas any reduction in inequalities must be based on a conscious awareness of the inter-dependence of the situations which create and foster these same inequalities.
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    WEALTH AND THE DISTRIBUTION OF INCOME, CANADA 1969–70 (1979)
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 25 (1979), S. 0 
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    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper explores the sensitivity of the size distribution of family income in Canada to alternative definitions of income. These alternative definitions examine both wealth generally in the form of an annuity equivalent, and home ownership in the form of imputed rent. An adjustment for family size differences is also made. The impact of these adjustments is assessed for average incomes, inequality, and the incidence of low income for different age groups. The adjustments do have significant effects that vary by age; in particular, the economic position of the elderly seems understated by the usual data. Also, methodological considerations, such as the direct use of micro data and the choice of inequality indicator are shown to be significant.
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    INDEX NUMBERS AND THE COMPUTATION OF FACTOR PRODUCTIVITY: A FURTHER APPRAISAL (1979)
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 25 (1979), S. 0 
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    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
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    Announcements (1979)
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 25 (1979), S. 0 
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    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
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    DO-IT-YOURSELF AND GDP (1979)
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 25 (1979), S. 0 
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    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Do-it-yourself activities are, by definition, those for which a choice must exist between doing it oneself or hiring someone else. This means they typically involve the own account production of services, but whereas it is customary to include most goods produced on own account in GDP services are conventionally excluded. In principle, however, it is possible to envisage a comprehensive and unique measure of the total final output of all the goods and services produced within an economy whether for sale or own use. Such a measure would be better than GDP as an indicator of long term changes in economic welfare, being independent of any shifts in the ratio of market to non-market production. Moreover, it would be a homogeneous measure with clearly defined limits in contrast to improvised indices of welfare which mix economic and non-economic variables in arbitrary and subjective ways. However, the need for a measure of market output, or something very close to it such as GDP, is still as strong as ever as soon as attention is switched from measurement of long term growth to problems associated with market disequilibria, such as unemployment and inflation.
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    EMPIRICAL RESULTS CONCERNING VERTICAL AND HORIZONTAL REDISTRIBUTION IN FINLAND (1979)
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 25 (1979), S. 0 
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    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Redistributional effects of income transfers, taxation and social goods in Finland have been studied making use of household surveys for 1966 and 1971 and the input-output study for 1970. According to the study the selection of income to be used as the criterion in carrying out the decile grouping substantially influences the picture that is obtained of the magnitude of redistribution. If factor income is used as the criterion in carrying out the decile grouping, the redistribution appears substantially greater than when disposable income is used as the criterion. On the other hand, whether income is calculated per capita or per household does not substantially influence the overall picture of redistribution obtained. The breakdown of factor income seems to have remained practically the same in Finland in the interval between the study years, while redistribution seems to have levelled income differences more in 1971 than in 1966.
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    INTER-OCCUPATION DIFFERENCES IN THE PATTERN OF MONETIZED AND NON-MONETIZED CONSUMER EXPENDITURE IN RURAL INDIA (1979)
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 25 (1979), S. 0 
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    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This study attempts to examine the inter-occupational differences in the patterns of cash and in-kind expenditure in rural India on the basis of a special tabulation of The National Sample Survey (NSS), 18th round (February 1963-January 1964) consumer expenditure data. The occupational groups considered here are (i) cultivators, (ii) agricultural labourers, (iii) other agriculture, and (iv) non-agricultural occupations.The analysis is carried out primarily in terms of curves relating item-specific cash/kind expenditure to total cash/total kind expenditure for fifteen selected item-groups of expenditure. For each item-occupation combination, four two-parameter forms of Engel curve together with the log-log-inverse form are estimated and the comparisons across occupation groups are made separately on the basis of each of the two-parameter curve forms which were found to give the best fit for at least one occupation group as well as the log-log-inverse form, using analysis of covariance technique.The results indicate that so far as the cash components of item expenditures are concerned, the pattern of expenditure is considerably influenced by occupational factors. It is observed that cultivators have a cash expenditure pattern different from those of agrictural labourers and of households with non-agricultural activities. The comparison of the kind expenditure patterns does not, however, reflect any clear picture primarily because in most cases the itemwise kind expenditure functions could not be estimated satisfactorily. This analysis also suggests that the specification of itemwise cash and kind expenditure functions employed here may not be the most satisfactory ones in an economy with a high degree of non-monetization and therefore alternative specifications need be examined.
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    SOCIAL ACCOUNTING MATRICES FOR DEVELOPMENT PLANNING (1977)
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 23 (1977), S. 0 
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    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The paper reports experience in constructing social accounting matrices (SAMs) for three national economies, viz. Iran, Sri Lanka and Swaziland. The SAMs focus particularly on the distribution of income through disaggregation of household sector income and outlay accounts consistent with more conventional disaggregation of production, factors, etc. The SAMs were conceived as an initial step towards understanding income distribution as an integral part of the development process and have been developed in parallel with work on planning models. Both the Iran and Sri Lanka SAMs were constructed within the context of the International Labour Office, World Employment Programme: that for Iran was intended as a contribution to the work of the Comprehensive Employment Strategy Mission to Iran under WEP auspices; while the Sri Lanka SAM was more specifically a research oriented study. The Swaziland study was financed by the Overseas Development Ministry, London as a research activity.Some learning-by-doing was involved in the sequence of SAMs and the problems encountered, solutions adopted and lessons learned provide the main substance of the paper.
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    THE STRUCTURE OF HOUSEHOLD SPENDING IN SOUTH AMERICAN CITIES: INDEXES OF DISSIMILARITY AND CAUSES OF INTER-CITY DIFFERENCES (1977)
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 23 (1977), S. 0 
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    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Household budget data collected in 1966–1971 in eleven cities in six South American countries are used to define individual mean budget structures (means of budget shares across households). These structures are then compared by indexes of dissimilarity, calculated for the entire budget and also for major components: food, animal protein foods, nonfood, and housing and clothing. Differences among cities in real income account for much of the difference in the share of the consumer budget devoted to food, which in turn is a principal source of overall budget dissimilarity. Within the food and nonfood budgets separately, income is of somewhat less importance; prices and preferences become more significant. Budget structures tend for this reason to be similar for cities in the same country. The structure of nonfood spending also varies markedly between coastal and interior cities, largely because of differences in housing costs. The available price data account for dissimilarities which depend on the price of a single large category of spending, but they do not help explain structural differences involving many categories: prices seem more important for nonfood than for food expenditures. Regression analysis is used to weigh the importance of each variable contributing to dissimilarity.
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    INTERNATIONAL ASSOCIATION FOR RESEARCH IN INCOME AND WEALTH (1977)
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 23 (1977), S. 0 
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    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1475-4991.1977.tb00027.x
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    LIFE EXPECTANCY AS AN INTEGRATING CONCEPT IN SOCIAL AND DEMOGRAPHIC ANALYSIS AND PLANNING (1977)
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 23 (1977), S. 0 
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    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper considers the need for a more integrated system of social and demographic statistics than SSDS and discusses the advantages of building it on the concept of life expectancy. The system would include a network of additive tables which would (as SNA does for economic variables) bring together leading social variables in a way that would permit the effects of exogenous changes to be quantified and compared. The author proposes as the base of such a system a table giving the expected duration of various life states (education, employment, retirement, etc.). This would be supplemented by a family of social co-efficients and fixed-weight index numbers that slot into it, allowing inter-temporal and international comparisons. The system would facilitate analysis of inequalities (regional, ethnic, etc.) and social change, and government planning of such change. It would also provide a framework for the development of national systems of social statistics.
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    THE EXTENSION OF THE UN SNA SUPPLY—DISPOSITION TABLE FOR DEVELOPMENT POLICY ANALYSIS (1977)
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 23 (1977), S. 0 
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    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The relevance of national accounts data to the broad development planning process which spans varying time horizons is considered. Undue emphasis on aggregated conventional macro-economic variables and recorded monetary values may have distorted the real vision and objectives of development. At the same time, other important and measurable problems like regional and distributive imbalances have often remained unquantified in traditional planning models. The UN “Supply-Disposition” table permits a summary description of the basic structure of an economy which can be easily extended within the context of the complete SNA to embrace significant social features without resort to complex inter-industry relationships. The table, however, loses few of the important dynamic economic properties of a full I–O system. It retains the means of checking the consistency of both overall policy objectives as well as basic data and it enables governments to ensure the necessary equilibrium between physical resource flows and financing capacity in formulating their development plans. The system's internal logic, combined with its potential for greater relevance and flexibility and capacity for fairly rapid and regular up-dating, makes it a most useful tool for practical planning purposes. Case studies of Zambia, Fiji and Oman are used to illustrate the fundamental concepts and underlying schematic framework of the system and its flexibility.
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    THE SIZE DISTRIBUTION OF INCOME: AN INTERNATIONAL COMPARISON (1977)
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 23 (1977), S. 0 
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    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper collects and extends the available data on size distribution of income by country, and then uses these data to develop an hypothesis about the relation of stage and mode of development to the distribution of income. In particular, the author attributes the increase in income inequality which often occurs in the early stages of economic development to the uneven spread of capitalist modes of production, which leads to a dualism which separates the capitalist sector from the rest of the economy. The author goes on to discuss the role of this dualism in increasing the inequalities existing in the society. Finally, the author contrasts the income distributions found in socialist countries with those of capitalist ones, and concludes that it is not economic growth per se, but rather the capitalist mode of production, which creates income inequalities in developing countries.
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    PROBLEMS IN WELFARE MEASUREMENT (1977)
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 23 (1977), S. 0 
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    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: In its first part, this note is a summary of the French version of the discussion paper submitted to the present IARIW Conference./〉 The second part is devoted to theoretical aspects of aggregation, as regards preference aggregation, and gives necessary and sufficient conditions which are useful for our purposes.
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    ASPECTS OF POVERTY IN MALAYSIA (1977)
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 23 (1977), S. 0 
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    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper is concerned with the definition and measurement of poverty in Malaysia. A poverty line is estimated after considering both the absolute and relative approaches to the definition. Various indices of poverty are discussed, ranging from the simple “incidence of poverty” measure to others which take account of the “poverty gap”. There is a derivation of a new index due to Sen, and alternative normalizations are suggested for it. Estimates of all these measures are presented for Malaysia. Finally, the simple “incidence of poverty” measure, which is decomposable, is adopted to construct a “profile” of the poor in Malaysia.
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    LOW INCOME IN CANADA (1977)
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 23 (1977), S. 0 
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    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper is divided into two sections-the first section discusses the history and development of Canadian low income cut-offs developed by Statistics Canada and the second examines problems relating to the adequacy of one year's income and the treatment of wealth in the low income data.The first section summarizes the conceptual basis of the Statistics Canada low income cut-offs that were first introduced for an analysis of 1961 Census data; a description of the data sources for specifying the cut-offs and examining the low income population is presented; a recently incorporated revision is described; and uses and abuses of the Canadian low income cut-offs are described.The second section discusses two main issues. The first issue relates to the adequacy of one year's income as a poverty criterion. Between years there is a significant amount of movement in and out of low income status which varies by socio-demographic characteristics.The second issue relates to the effect of ignoring wealth in the derivation of the low income population.The two concerns are examined empirically with data from the Canadian Survey of Consumer Finances.
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    THE SIZE DISTRIBUTION OF INCOME DURING INFLATION (1979)
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 25 (1979), S. 0 
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    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper analyzes the effects of inflation on the size distribution of income, making use of a microsimulation model. It goes beyond earlier analyses not only in the use of microdata but also in the types of inflation modeled. Two different income concepts are used, one the money income concept of the U.S. Census Bureau and the second, called Accrued Comprehensive Income, based on the concept of income as consumption plus the change in net worth. The results of the simulation inflations are presented graphically, as the ratio of real income with inflation to real income without, by income class. The analysis concludes that the income concept chosen is crucially important. While low income households suffer modest losses and middle income households are largely unaffected, whatever income concept is used, the effects on upper income households are extremely sensitive. With a simple money income concept, the well-to-do appear to benefit from inflation but a broader concept reverses this effect. A policy to negate the distributional effect of inflation would benefit primarily the upper income households. Similarly, macroeconomic policies designed to reduce inflation at the price of slower growth and greater unemployment would not aid lower income groups to a significant degree.
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    CHANGES IN INCOME INEQUALITY: AUSTRALIA, 1968–69 TO 1973–74 (1979)
    Oxford, UK : Blackwell Publishing Ltd
    Review of income and wealth 25 (1979), S. 0 
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    ISSN: 1475-4991
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The period 1968–69 to 1973–74 saw a redistribution of incomes in Australia. This is evidenced first by declining differentials between dissimilar persons and secondly by changes in two measures of income inequality, the Gini and Theil coefficients.The inequality coefficients are decomposed into components which distinguish between that part of total inequality due to income differences between dissimilar persons and that part due to inequality between similar persons. It is found that the reduction in inequality was due to the reduction in differentials between dissimilar persons and that inequality between similar persons probably did not change over the period.
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    THE ECONOMIC THEORY OF FERTILITY. AN ALTERNATIVE APPROACH FOR AN ECONOMIC DETERMINATION OF PROCREATION (1) (1979)
    Oxford, UK : Blackwell Publishing Ltd
    Metroeconomica 31 (1979), S. 0 
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    ISSN: 1467-999X
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
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    URL: http://dx.doi.org/10.1111/j.1467-999X.1979.tb00249.x
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    AN ECONOMETRIC MODEL OF THE WORLD NATURAL RUBBER ECONOMY (1979)
    Oxford, UK : Blackwell Publishing Ltd
    Metroeconomica 31 (1979), S. 0 
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    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
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    DE-INDUSTRIALISATION: A REVIEW ARTICLE (1979)
    Oxford, UK : Blackwell Publishing Ltd
    Metroeconomica 31 (1979), S. 0 
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    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
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    URL: http://dx.doi.org/10.1111/j.1467-999X.1979.tb00255.x
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    A MODEL OF THE FIRM'S DEMAND FOR MONEY UNDER UNCERTAINTY (1979)
    Oxford, UK : Blackwell Publishing Ltd
    Metroeconomica 31 (1979), S. 0 
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    ISSN: 1467-999X
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Recently, economists have centered their explanation of the demand for money balances on the transactions motive. The roles of precautionary and speculative motives remain ambiguous. The purpose of this paper is to fill this void. We develop a static model of the individual firm's demand for money in which prices and the interest rate are assumed to be random variables. In this model, the entrepreneur must decide his money holdings ex ante, and both capital and labor inputs are determined ex post. The demand for money corresponding to the various motives is a consequence of analyzing the ex ante profit function. Implications for monetary policy are derived from this analysis.
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    THE PHILLIPS CURVE RELATION IN ITALY AND THE UNITED STATES: AN EMPIRICAL NOTE ON THE KLEIN HYPOTHESIS (1979)
    Oxford, UK : Blackwell Publishing Ltd
    Metroeconomica 31 (1979), S. 0 
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    ISSN: 1467-999X
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
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    URL: http://dx.doi.org/10.1111/j.1467-999X.1979.tb00247.x
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    A MACRO ANALYSIS ON THE WAGE-PUSH EFFECT OF DEVALUATION (1979)
    Oxford, UK : Blackwell Publishing Ltd
    Metroeconomica 31 (1979), S. 0 
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    ISSN: 1467-999X
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-999X.1979.tb00248.x
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    THE EXPLORATION AND PRODUCTION OF A LONG-LIVED NATURAL RESOURCE (1979)
    Oxford, UK : Blackwell Publishing Ltd
    Metroeconomica 31 (1979), S. 0 
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    ISSN: 1467-999X
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper, a synthesis of previous work by the author, examines both the exploration and the production decisions of a firm in a durable natural resource industry, and finds that monopoly power leads to a slowing in the rate of extraction and a reduction in the exploration rate. Thus in a durable resource industry such as gold, the effect of monopoly is multi-plied: less of the resource will be « discovered », and the stock of the re-source will be extracted more slowly so that early-period prices may be kept above the competitive level.
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    THE WORLD TIN ECONOMY: AN ECONOMETRIC ANALYSIS (1979)
    Oxford, UK : Blackwell Publishing Ltd
    Metroeconomica 31 (1979), S. 0 
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    ISSN: 1467-999X
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
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    DEPLETION OF NATURAL RESOURCES AND ACCUMULATION OF CAPITAL WHEN POPULATION IS ENDOGENOUS AN ACTIVITY ANALYSIS (1979)
    Oxford, UK : Blackwell Publishing Ltd
    Metroeconomica 31 (1979), S. 0 
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    ISSN: 1467-999X
    Source: Blackwell Publishing Journal Backfiles 1879-2005
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    BASIC AND NON-BASIC COMMODITIES IN Mr. SRAFFA'S PRICE SYSTEM (1979)
    Oxford, UK : Blackwell Publishing Ltd
    Metroeconomica 31 (1979), S. 0 
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    ISSN: 1467-999X
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
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    AN AGGREGATE ANALYSIS OF THE EFFECTS OF TAXES IN A GROWTH MODEL WITH ENDOGENOUS SUPPLY OF SKILLED LABOUR (1979)
    Oxford, UK : Blackwell Publishing Ltd
    Metroeconomica 31 (1979), S. 0 
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    ISSN: 1467-999X
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
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    PORTFOLIOS WITH RESERVE COEFFICIENT (1979)
    Oxford, UK : Blackwell Publishing Ltd
    Metroeconomica 31 (1979), S. 0 
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    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This article offers an attempt at defining and computing the coherence of, and substitution among, the standard instruments of monetary policy, viz. open market policy, rate of interest, and reserve coefficient.A number of separation theorems are proved and a unit-elasticity rule derived for the tradeoff between the reserve coefficient and the premium on risky assets.Finally, for any given interest rate we select an optimal portfolio by the maximal-caution criterion, which minimizes the probability of failure.
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    UNEMPLOYMENT, UNANTICIPATED INFLATION AND UNEMPLOYMENT BENEFITS: SOME EMPIRICAL RESULTS FOR THE U.K. AND CANADA (1979)
    Oxford, UK : Blackwell Publishing Ltd
    Metroeconomica 31 (1979), S. 0 
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    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
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    DEMAND UNCERTAINTY, MONOPOLY WITH TWO-STAGE INPUT DECISIONS, AND CORPORATION TAXES (1979)
    Oxford, UK : Blackwell Publishing Ltd
    Metroeconomica 31 (1979), S. 0 
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    ISSN: 1467-999X
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper attempts to investigate the effects of changes in the lump sum tax and the profit tax rate on the input, output and price decisions of the risk averse monopoly under demand uncertainty. It is assumed that, while the monopoly must determine its capital ex ante, it may modify the output and price determinations through adjusting its labor ex post.As the results of its analysis, the paper presents the new propositions with respect to the corporation taxes which have never been shown in both the deterministic models and the models which exclude the possibility of two-stage input decisions, even under demand uncertainty.
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    SENSITIVITY ANALYSIS IN ECONOMIC THEORY (1977)
    Oxford, UK : Blackwell Publishing Ltd
    Metroeconomica 29 (1977), S. 0 
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    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
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    URL: http://dx.doi.org/10.1111/j.1467-999X.1977.tb00561.x
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    THE RATCHET EFFECT IN MONEY DEMAND (1977)
    Oxford, UK : Blackwell Publishing Ltd
    Metroeconomica 29 (1977), S. 0 
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    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper explores the response of money demand to relative changes in income using U.S. quarterly data for the period 1948–1970. We find that exchange media and time deposits differ in their response to relative changes in income with implications for the inclusion of time deposits in the definition of money.
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    SRAFFA AND CLASSICAL ECONOMICS: FUNDAMENTAL EQUILIBRIUM RELATIONSHIPS (1977)
    Oxford, UK : Blackwell Publishing Ltd
    Metroeconomica 29 (1977), S. 0 
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    ISSN: 1467-999X
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    EMPLOYMENT GROWTH AND SPATIAL ALLOCATION OF LABOR IN GREECE (1977)
    Oxford, UK : Blackwell Publishing Ltd
    Metroeconomica 29 (1977), S. 0 
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    LANGIAN PRICING AND INFLATION CONTROL (1977)
    Oxford, UK : Blackwell Publishing Ltd
    Metroeconomica 29 (1977), S. 0 
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    THE CONCEPT OF GENERAL EQUILIBRIUM IN A MARKET ECONOMY WITH IMPERFECTLY COMPETITIVE PRODUCERS (1977)
    Oxford, UK : Blackwell Publishing Ltd
    Metroeconomica 29 (1977), S. 0 
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    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper formulates a general equilibrium market economy where consumers are « perfect competitors » but producers take advantage of their ability to influence prices. It is shown that in such a model it is not reasonable for producers to attempt to maximize profits. Conditions are presented under which there exists a solution for such an economy which is Pareto-efficient for the owners of the firms. Finally, it is shown that a pecuniary externality makes the core a very weak solution concept to use in analysing rivalry among producers.
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    A BAYESIAN APPROACH USED TO INCREASE THE POWER IN A TEST OF HYPOTHESIS IN LINEAR REGRESSION (1977)
    Oxford, UK : Blackwell Publishing Ltd
    Metroeconomica 29 (1977), S. 0 
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    ISSN: 1467-999X
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: In regression problems, we often test a null hypothesis which, according to prior knowledge, is likely to be wrong. In order to decrease the error of the second kind, we then raise the power function and thus, also increase the significance level. In this paper, we will represent our prior knowledge by certain prior probility functions and will apply Bayesian methods to test the null hypothesis. We will show that the results obtained by the Bayesian method are equivalent to the sampling methods with a raised power function.
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    A CLASS OF BINARY VARIABLE REGRESSION MODELS (1977)
    Oxford, UK : Blackwell Publishing Ltd
    Metroeconomica 29 (1977), S. 0 
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    ISSN: 1467-999X
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
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    FUNDAMENTAL MARXIAN THEOREM IN CASE OF MULTIPLE ACTIVITIES (1977)
    Oxford, UK : Blackwell Publishing Ltd
    Metroeconomica 29 (1977), S. 0 
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    ISSN: 1467-999X
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: It is proved in this paper that in a non-joint production system of Leontief type which allows the simultaneous operation of multiple activities for each commodity production there exist unique labour values of commodities defined as the best minimal labour contents and the so-called fundamental Marxian theorem can be verified and extended. An appendix studies a generalization of Hawkins-Simon conditions in our framework.
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    RESOURCE ALLOCATION IN A SMALL OPEN ECONOMY AND AN ENVELOPE PROPERTY (1977)
    Oxford, UK : Blackwell Publishing Ltd
    Metroeconomica 29 (1977), S. 0 
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    ISSN: 1467-999X
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The first part of this paper shows in the Stolper-Samuelson box diagram that (a) how the increased factor in the theorem will be absorbed and how the existing resources will be transferred between industries; (b) If both factors increase simultanously, there may or may not have transference of the existing resources; (c) Jone's magnification effect can be illustrated in the same box diagram. The second part of this paper relates the corollary. We have shown that (d) if diversification of production occurs, the corollary holds percentagewise only if less of the total supply of the increased factor is employed in the industry which uses this factor intensively. (e) Our proposition may also be explained by deriving the effect of factor expansion on the marginal rate of transformation; and lastly, (f) a type of envelope theorem for factor expansion may be established. The mathematical derivations are collected in the Appendix.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-999X.1977.tb00568.x
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    SOME REMARKS ON SETS UNBOUNDED NON-CONVEXITIES (1977)
    Oxford, UK : Blackwell Publishing Ltd
    Metroeconomica 29 (1977), S. 0 
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    ISSN: 1467-999X
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-999X.1977.tb00570.x
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  • 82
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    A STOCHASTIC MODEL OF SALES RESPONSE TO ADVERTISING (1977)
    Oxford, UK : Blackwell Publishing Ltd
    Metroeconomica 29 (1977), S. 0 
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    ISSN: 1467-999X
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: A stochastic model of advertising response is developed. It is shown that the evolution of mean sales is equivalent to Vidale-Wolfe type advertising models and to Stigler's diffusion model. A stochastic framework for advertising is found here to be ideally suited for the estimation of market parameters, for hypothesis testing of advertising models, and for studying the risk implications of an adversiting policy.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-999X.1977.tb00571.x
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  • 83
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    USE OF THE DURBIN-WATSON STATISTIC WITH LAGGED DEPENDENT VARIABLES (1977)
    Oxford, UK : Blackwell Publishing Ltd
    Metroeconomica 29 (1977), S. 0 
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    ISSN: 1467-999X
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: It has been argued that the Durbin-Watson Statistic “d” is biased towards 2 when lagged endogenous variables are included in an equation estimated by Ordinary Least-Squares.We show that the Durbin Statistics “h” does not generally contradict the D.-W. test, and we conjecture that the inclusion of lagged dependent variables produces a real diminution of the dependence of the residuals over time.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-999X.1977.tb00572.x
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    ON NON-ECONOMIC OBJECTIVES AND OPTIMAL INTERVENTION (1) (1977)
    Oxford, UK : Blackwell Publishing Ltd
    Metroeconomica 29 (1977), S. 0 
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    ISSN: 1467-999X
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-999X.1977.tb00573.x
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  • 85
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    AGGREGATION THEORY AND THE IDEAL PRICE DEFLATOR: A NOTE (1977)
    Oxford, UK : Blackwell Publishing Ltd
    Metroeconomica 29 (1977), S. 0 
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    ISSN: 1467-999X
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: In this paper, a proof is provided for the proposition that collapsing a three period model into a two period model with the use of aggregation theory does not permit the analysis of price changes in the two periods that are aggregated. An unknown implication of this proposition is also brought forth by our analysis. The main instrument in the proof is the differentiation of a little known result from aggregation theory. Since the analysis is equally applicable to three commodities and easily extended to n periods or commodities, it casts doubt on the usefulness of aggregation theory in a variety of economic contexts.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-999X.1977.tb00574.x
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  • 86
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    TECHNOLOGICAL CHANGE AND AGGREGATE SUPPLY FUNCTION (1977)
    Oxford, UK : Blackwell Publishing Ltd
    Metroeconomica 29 (1977), S. 0 
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    ISSN: 1467-999X
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: Aggregate economic activity is determined by the point of intersection between the aggregate demand function and the aggregate supply function. Recently, economists pay little attention to the determinants of aggregate supply function. Therefore, a gap remains between the quite well-advanced theories of the aggregate supply. In this paper I construct a model that describes the supply side of a macroeconomy. Within the framework of the Keynesian system and the classical system, the relationship between technological change and aggregate supply function is examined. It is shown that technological change will shift the aggregate supply function to the right.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-999X.1977.tb00575.x
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    OUTPUT PRICE AND FACTOR USE; AN ANALYSYS OF DIRECT, CROSS AND REENFORCING EFFECTS (1977)
    Oxford, UK : Blackwell Publishing Ltd
    Metroeconomica 29 (1977), S. 0 
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    ISSN: 1467-999X
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-999X.1977.tb00576.x
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  • 88
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    PARTIAL EQUILIBRIUM ANALYSIS OF FOREIGN EXCHANGE MARKET (1977)
    Oxford, UK : Blackwell Publishing Ltd
    Metroeconomica 29 (1977), S. 0 
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    ISSN: 1467-999X
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-999X.1977.tb00577.x
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  • 89
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    ADAPTIVE CONTROL AND DUOPOLISTIC GAMES: A SIMULATION APPROACH (1977)
    Oxford, UK : Blackwell Publishing Ltd
    Metroeconomica 29 (1977), S. 0 
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    ISSN: 1467-999X
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-999X.1977.tb00578.x
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    FINANCIAL INTERMEDIATION, RISK BEARING, AND THE SUPPLY OF ARROW CERTIFICATES (1977)
    Oxford, UK : Blackwell Publishing Ltd
    Metroeconomica 29 (1977), S. 0 
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    ISSN: 1467-999X
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-999X.1977.tb00579.x
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  • 91
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    A NOTE ON THE UNDERSIZED SAMPLE PROBLEM IN ECONOMETRICS (1977)
    Oxford, UK : Blackwell Publishing Ltd
    Metroeconomica 29 (1977), S. 0 
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    ISSN: 1467-999X
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-999X.1977.tb00580.x
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    NON STEADY GROWTH AT THE MAXIMAL RATE OF PROFIT (1979)
    Oxford, UK : Blackwell Publishing Ltd
    Metroeconomica 31 (1979), S. 0 
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    ISSN: 1467-999X
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-999X.1979.tb00253.x
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  • 93
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    THE WAGE-PROFIT RELATION WITHOUT CONSTANT RETURNS (1979)
    Oxford, UK : Blackwell Publishing Ltd
    Metroeconomica 31 (1979), S. 0 
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    ISSN: 1467-999X
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: It is shown that well-known propositions of Sraffa concerning the relation between the wage and the rate of profits are not valid without the assumption of constant returns or some other restrictive assumption. The paper recognises a distinction between classical and marginalist methods of analysis but disputes the view that the pursuit of the classical method in value theory obviates the need to assume constant returns. It is argued, on the contrary, that the assumption of constant returns is necessary to the fruitful application of the classical method.
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    AN ENTREPRENEURIAL THEORY OF GAMES (1979)
    Oxford, UK : Blackwell Publishing Ltd
    Metroeconomica 31 (1979), S. 0 
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    ISSN: 1467-999X
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-999X.1979.tb00241.x
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    RELIABILITY AND REGULATION IN PRICING PUBLIC UTILITY SERVICE (1979)
    Oxford, UK : Blackwell Publishing Ltd
    Metroeconomica 31 (1979), S. 0 
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    ISSN: 1467-999X
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The principal question addressed in this paper concerns the optimal price profile for a regulated public utility where demand is stochastic. Through the introduction of rationing costs and a rate-of-return constraint, marginal revenue will be approximately equated to the cost associated with satisfying the last unit of consumers’demand. This has significant implications for capacity expansion. Namely, capacity is added to keep the risk of failure minimal. As a result, to the extent that the associated costs are higher for the last unit of capacity, a higher marginal revenue and hence price will result. That is, if the marginal unit of capacity has a high operating and delivery cost and low capital cost with high reliability and consequent high total cost (e.g., an internal combustion peaking unit), the indicated result follows.Consequently, there is a direct trade off between the level of risk of failure and marginal revenue. This provides a rationalization for the existence of the price differential between firm and interruptible customers. Finally, if the firm is contrained to earn a fair return on its capital investment, it will set prices to favor the consumers generating the expansion in capacity.
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    ADJUSTMENT OF REAL AND FINANCIAL MARKETS IN AN OPEN ECONOMY: A DISEQUILIBRIUM MODEL OF THE ITALIAN ECONOMY (1979)
    Oxford, UK : Blackwell Publishing Ltd
    Metroeconomica 31 (1979), S. 0 
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    ISSN: 1467-999X
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-999X.1979.tb00242.x
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    U.S. INDUSTRIAL, EMPLOYMENT PATTERNS BY RACE AND SEX: 1960–1970 (1979)
    Oxford, UK : Blackwell Publishing Ltd
    Metroeconomica 31 (1979), S. 0 
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    ISSN: 1467-999X
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-999X.1979.tb00243.x
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    SOME MORE NOTES ON THE SURROGATE PRODUCTION FUNCTION (1979)
    Oxford, UK : Blackwell Publishing Ltd
    Metroeconomica 31 (1979), S. 0 
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    ISSN: 1467-999X
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-999X.1979.tb00244.x
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    BOUNDED RATIONALITY AND INTERTEMPORAL DECISION-MAKING (1979)
    Oxford, UK : Blackwell Publishing Ltd
    Metroeconomica 31 (1979), S. 0 
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    ISSN: 1467-999X
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-999X.1979.tb00252.x
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    Editorial (1979)
    Oxford, UK : Blackwell Publishing Ltd
    Teaching statistics 1 (1979), S. 0 
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    ISSN: 1467-9639
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Mathematics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1467-9639.1979.tb00738.x
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