The paper addresses Kliman`s criticisms of the observed correlations between prices and labour values. It argues that the notion of spurious correlation is not relevant in this case. It examines Kliman`s own simulations and shows that his statistical correction techniques involve dividing...

The results of recent analyses of interest rate pegging, in the context of macromodels incorporating rational expectations, stand in marked contrast to the classic Wicksellian conclusions. This paper examines this discrepancy. It is argued that the contrast is by no means wholly to the...