The effect of an economy's growth on its balance of payments has been a subject which has received a good deal of attention in the recent literature in international economics. Much of this attention derives from general dissatisfaction with the theoretical and empirical aspects of the standard...

The well-known factor price equalization theorem is often invoked to provide trade theorists with justification for the conventional assumption of complete international immobility of factors of production. If conditions of the theorem are satisfied, and free trade does in fact give rise to the...

The neoclassical theory of the firm has developed along two distinct lines. The static theory develops the implications of profit maximization for the determination of factor demands, output, and equilibrium firm size. The dynamic theory uses intertemporal optimization to analyze the investment...

Keynes-Wicksell models are one of the approaches to monetary growth theory. The essential features of the KW models are independent investment savings decisions, and the explicit representation of a price equation in which prices rise only in response to excess demand in the goods market. Then,...

This paper argues that a key difference between the monetarists and the neo-Keynesians is their respective views about how monetary policy works. Both views are shown to be special cases of the integrated model developed. The model is presented in such a form that it is a relatively...