Journal of Economic Studies: Volume 25 Issue 6

Providing for the optimum quantity of money

Filippo Cesarano

The optimum quantity of money proposition, whose validity is agreed on, is actually open to criticism. The present paper argues that the weaknesses of the Friedman Rule from the…

Unemployment and the open economy wage‐price spiral

Dag Kolsrud, Ragnar Nymoen

We present a dynamic model of real wages in the open economy that encapsulates the well‐known “competing claims model” or “incomplete competition model” of real wage…

Income taxation and the accounting period: A simulation analysis

John Creedy

This paper uses a lifetime income simulation model to examine the effects on inequality and progressivity of extending the time period over which income is measured. The income…

Seigniorage and tax smoothing in developing countries

John Ashworth, Lynne Evans

This paper tests the extended tax‐smoothing model for a sample of 32 developing countries. Importantly, the testable implications employed relax the assumption of constant money…

Convergence in recent growth theories: a survey

Rosa Capolupo

This paper reviews one of the crucial issues in the recent growth literature concerning the hypothesis of cross country convergence of levels and growth rates of income per capita…

Evidence of forward discount determinants and volatility behavior

Maria Sophia Aguirre, Reza Saidi

This paper studies the components of the forward discount dynamics in Germany from 1972 to 1996. By using two different frequencies in the analysis, we find that an ARCH structure…

An alternative definition of the arc elasticity of demand

Andrés Vázquez

This paper presents a simple alternative measure for the arc elasticity of demand that comes naturally and possesses some attractive properties. In particular, it equals the point…