Liquidity traps and the credit crunch | Economists' Forum: economics blog | FT.com. Weltwirtschaftliches Archiv, Bd. 81 (1958), pp. 220-241. The Libertarian Case for Free Trade And Restricted Immigration. Download this Backgrounder as a pdf It is frequently maintained that "free trade" belongs to "free immigration" as "protectionism" does to "restricted immigration. " That is, the claim is made that while it is not impossible that someone might combine protectionism with free immigration, or free trade with restricted immigration, these positions are intellectually inconsistent, and thus erroneous.
Hence, insofar as people seek to avoid errors, they should be the exception rather than the rule. The facts, to the extent that they have a bearing on the issue, appear to be consistent with this claim. As the 1996 Republican presidential primaries indicated, for instance, most professed free traders are advocates of relatively (even if not totally) free and non-discriminatory immigration policies, while most protectionists are proponents of highly restrictive and selective immigration policies. The Case for Free Trade Trade and Immigration Similarly, as the foreign trade policy of the U. Encyclopedia of taxation and tax policy. Are.berkeley.edu/courses/EEP141/fall2007/lecture_notes/Linear-Marginal-Cost.pdf. On The Principles of Political Economy and Taxation, by David Ricardo, 1817. David Ricardo (1817) FROM the account which has been. given of the profits of stock, it will appear, that no accumulation of capital will permanently lower profits, unless there be some permanent cause for the rise of wages.
If the funds for the maintenance of labour were doubled, trebled, or quadrupled, there would not long be any difficulty in procuring the requisite number of hands, to be employed by those funds; but owing to the increasing difficulty of making constant additions to the food of the country, funds of the same value would probably not maintain the same quantity of labour. If the necessaries of the workman could be constantly increased with the same facility, there could be no permanent alteration in the rate of profits or wages, to whatever amount capital might be accumulated.
Productions are always bought by productions, or by services; money is only the medium by which the exchange is effected. Again. Contents | Notes | Political Economy Archive. Liquidity preference as rational behaviour under uncertainty. Abstract An important concern of macroeconomic analysis is how interest rates affect the cash balance demanded at a certain level of nominal income. In fact, the interest-rate- elasticity of the liquidity demand determines the effectiveness of monetary policy, which is useless under absolute liquidity preference, i.e. when the money demand is perfectly elastic.
An actuarial approach is developed in this paper for dealing with random income. Assuming investors face liquidity constraints, a level of surplus exists which maximises expected value. Moreover, the optimal liquidity demand is expressed as a Value at Risk and the comonotonic dependence structure determines the amount of money demanded by the economy. As a consequence, the interest-rate-elasticity depends on the kind of risks and expectations. Download Info If you experience problems downloading a file, check if you have the proper application to view it first.
Bibliographic Info Related research References Citations Lists Statistics. Princeton-Educated Blacks and the Black Community. The Collected Essays of Patrick J. Dubbs. EDUCATION AND RURAL DEVELOPMENT IN ALASKA The Collected Essays of Patrick J. Dubbs Arctic Atolls © Patrick J. Dubbs This brief, exploratory paper addresses the threatened future of the small, rural, primarily Native communities of Village Alaska.
Viability of Village Alaska There are approximately 144 small rural Native communities in what I refer to as Village Alaska---an arbitrary area that encompasses seven rural ANCSA corporate regions of mainland Alaska (see Figure One). The concern with the viability of these remote communities is not just a recent phenomenon. More recently, three reasonably well known efforts issued in 1989 have once again raised questions about the future of rural villages. The second report, , attempts to document " . . . a social, cultural and economic crisis in Native villages . . .
" The cash dimension is an insidious one that has grown, virtually unabated, since its inception. Small State Theory and Rural Alaska. Measuring Potential Output. Measuring potential GDP is inherently difficult. As we have demonstrated in class, in the short run, the outcomes we observe in the economy are based on short-run supply and aggregate demand, and these variables may move in ways that are counter to the long run ability of the economy to generate output (i.e. potential GDP).
But all is not lost. There are a number of variables that are helpful in working out what is happening to potential output: - the labour market. In general, we have a better idea of potential output after the fact. We normally think of potential output as changing relatively smoothly over time (at least more smoothly than actual output), and moving towards potential output, as firms and workers adjust wages/prices/expectations in response to shocks. If we want to construct a smooth line over some data to work out the level of potential output today, we only have the data up to today to use.