Trade, stability, and macroeconomics;: Essays in honor of Lloyd A. Metzler (Economic theory and mathematical economics)

Trade, Stability, and Macroeconomics: Essays in Honor of Lloyd A. Metzler provides information pertinent to the fundamental aspects of trade, stability, and macroeconomics. This book covers a variety of topics, including nontraded and intermediate commodities, prices, production, exchange rates, and wages. Organized into five parts encompassing 22 chapters, this book begins with an overview of the theory of international trade and the effect of a tariff or export tax on domestic prices. This text then defines the supply of the international commodities as a function of their prices and of the output of the domestic commodity. Other chapters consider the Stolper–Samuelson analysis of the effects of protection of the distribution of income. This book discusses as well the theory of external–internal balance or the assignment problem as related to macroeconomic policy in an open economy. The final chapter deals with the dynamic allocation of scarce resources. This book is a valuable resource for economists. Content: ECONOMIC THEORY, ECONOMETRICS, AND MATHEMATICAL ECONOMICS, Pages i-ii Front Matter, Page iii Copyright, Page iv LIST OF CONTRIBUTORS, Pages xiii-xiv INTRODUCTION, Pages xv-xviii, GEORGE HORWICH, PAUL A. SAMUELSON THE METZLER TARIFF PARADOX: Extensions to Nontraded and Intermediate Commodities, Pages 3-18, Ronald W. Jones THE TRANSFER PROBLEM ONCE AGAIN, Pages 19-78, John S. Chipman THE WELFARE ECONOMICS OF REVERSED INTERNATIONAL TRANSFERS, Pages 79-110, Harry G. Johnson SOME PROBLEMS OF STABILIZATION POLICY UNDER FLOATING EXCHANGE RATES, Pages 111-127, M. June Flanders DEVALUATION AND THE BALANCE OF TRADE UNDER FLEXIBLE WAGES, Pages 129-151, Joanne Salop ON THE ANALYTICAL FRAMEWORK OF TARIFFS AND TRADE POLICY, Pages 153-178, Akira Takayama STABILITY INDEPENDENT OF ADJUSTMENT SPEED, Pages 181-202, Kenneth J. Arrow A CLASS OF GENERALIZED METZLERIAN MATRICES, Pages 203-220, James P. Quirk HYSTERESIS OF LONG-RUN EQUILIBRIUM FROM REALISTIC ADJUSTMENT COSTS, Pages 221-242, Murray C. Kemp, Henry Y. Wan Jr. STABILITY IN AN ECONOMY WITH PRODUCTION, Pages 243-258, Anjan Mukherji STABILITY OF MARKETS WITH PUBLIC GOODS: A Case of Gross Substitutability, Pages 259-268, Takashi Negishi MARX AS MATHEMATICAL ECONOMIST: Steady-State and Exponential Growth Equilibrium, Pages 269-307, Paul A. Samuelson AGGREGATE INVENTORY BEHAVIOR: A Critical Study of a Class of Models, Pages 311-332, John A. Carlson, William E. Wehrs INVENTORIES AND THE GENERALIZED ACCELERATOR, Pages 333-354, Gerald L. Childs MONETARY POLICY AND THE INVENTORY CYCLE, Pages 355-371, Michael C. Lovell IS–LM AS A DYNAMIC FRAMEWORK, Pages 375-399, Patric H. Hendershott, George Horwich THE DYNAMICS OF INTEREST RATE ADJUSTMENT IN A KEYNESIAN MACROECONOMIC MODEL, Pages 401-425, Wayne F. Perg THE THEORY OF MONEY AND INCOME CONSISTENT WITH ORTHODOX VALUE THEORY, Pages 427-453, Earl A. Thompson MONETARY THEORY AND ECONOMIC CONSOLIDATIONS, Pages 455-484, Gerrit Bilkes, Edward Ames MONEY, GROWTH, AND THE PROPENSITY TO SAVE: An Iconoclastic View, Pages 487-502, Ronald I. McKinnon ECONOMIC GROWTH AND STAGES OF THE BALANCE OF PAYMENTS: A Theoretical Model, Pages 503-521, Stanley Fischer, Jacob A. Frenkel ON THE DYNAMIC STABILITY OF ECONOMIC GROWTH: The Neoclassical versus Keynesian Approaches, Pages 523-553, Hirofumi Uzawa Author Index, Pages 554-558