Showing 1 - 10 of 16
This paper surveys some of the major writings of Harry Johnson on trade theory and attempts at least a partial assessment of his contribution to the field. The coverage is not exhaustive but is instead illustrative of Johnson's view on (i) the emptiness of qualitative economics, (ii) the...
Persistent link: https://www.econbiz.de/10005787721
This paper discusses the origin of the Phillips curve and its place in macro models; its theoretical underpinnings; the logic of the natural rate hypothesis; and the view that macro models can be closed by the expectations-augmented Phillips curve.
Persistent link: https://www.econbiz.de/10005787746
We ask if pure profits obtained in our earlier model might be dissipated by forces excluded. We consider the possibility that the profits will be converted into land rents and usurped by landlords and conclude this will not happen. Second, we consider new firms entering to drive existing firms...
Persistent link: https://www.econbiz.de/10005787867
We consider Gee's model of industrial location and prove analytically that, given Gee's assumption of price discrimination, firms always wish to locate in the centres of their markets. This contrasts the result for mill-price-plus-transport-cost pricing where firm locate in the centres of...
Persistent link: https://www.econbiz.de/10005787868
Persistent link: https://www.econbiz.de/10005653005
Persistent link: https://www.econbiz.de/10005653013
The paper is divided into two parts: one-dimensional markets and two-dimensional markets. Also, we develop both one and two-dimensional models. Within each, we distinguish (a) bounded, (b) unbounded but finite, and (c) unbounded, infinite spaces. Among other things, we show: in one dimension,...
Persistent link: https://www.econbiz.de/10005653083
On an infinitely-extensible plane (with uniform customer-density) the socially-optimal configuration of firms is a regular hexagonal lattice. Will the free market necessarily produce this configuration? We argue that the currently-accepted, affirmative answer has been erroneously derived from...
Persistent link: https://www.econbiz.de/10005653115
Persistent link: https://www.econbiz.de/10005653139
Persistent link: https://www.econbiz.de/10005653194