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Samuelson kept optimization-based problems separated from macroeconomic dynamics in his Foundations, where dynamics were defined in terms of difference and differential equations. Despite some criticism of his "correspondence principle" of stability analysis by D.F. Gordon, D. Patinkin and...
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The paper investigates the role played by Friedman’s interpretation of the Brazilian inflation in his 1967 formulation of the natural rate hypothesis and in his 1976 discussion of indexation and other institutional arrangements in the face of chronic inflation. It is argued that, as an...
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Paul Samuelson's famous 1948 "factor price equalization theorem" was his main contribution to international trade … theory. He demonstrated conditions under which trade in goods only would lead to full equalization of the remuneration of … investigates how development economists reacted mostly (but not always) critically to that theorem, with attention to the …
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adapted the growth formula to their agenda in order to calculate "capital requirements". Development economists at the time …
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