The Quarterly Journal of Economics

1886 - 2025

Current editor(s): Robert J. Barro, Lawrence F. Katz, Nathan Nunn, Andrei Shleifer and Stefanie Stantcheva

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Volume 82, issue 4, 1968

Output, Employment, and Wages in the Short Run pp. 537-560

Robert Solow and Joseph Stiglitz

Centralized Versus Decentralized Resource Allocation: The Yugoslav "Laboratory" pp. 561-587

Thomas Marschak

Substitution and Supply Elasticities in Calculating the Effective Protective Rate pp. 588-601

James Leith

The Impact of the Labor Market upon the Design and Selection of Productive Techniques within the Manufacturing Plant pp. 602-620

Michael J. Piore

A Model of the Enlistment Decision under Draft Uncertainty pp. 621-638

David Bradford

Economic Theory and the Meaning of Competition pp. 639-656

Paul J. McNulty

A Note on the Global Stability of a Simple Growth Model with Many Capital Goods pp. 657-665

Edwin Burmeister, Rodney Dobell and Kiyoshi Kuga

Stochastic Stability of Short-Run Market Equilibrium under Variations in Supply pp. 666-681

Stephen J Turnovsky

The Opportunity Costs of Public Investment: Comment pp. 682-688

Peter Diamond

Volume 82, issue 3, 1968

The American Council of Economic Advisers and the German Sachverstaendigenrat: A Study in the Economics of Advice pp. 349-379

Henry C. Wallich

The Turning Point in the Japanese Economy pp. 380-402

Ryoshin Minami

The Acceleration Principle and the Nature of Business Cycles pp. 403-418

Gregory C. Chow

The Interest Rate, Taxation, and the Personal Savings Incentive pp. 419-434

Martin Feldstein and S. C. Tsiang

The Effect of Separation of Ownership and Control on the Performance of the Large Firm pp. 435-451

R. Joseph Monsen, John S. Chitj and David E. Cooley

Towards a Better Understanding of the Incremental Capital-Output Ratio pp. 452-464

J. Vanek and A. H. Studenmund

Saving and Uncertainty: The Precautionary Demand for Saving pp. 465-473

Hayne Leland

International Development Policy: Two Recent Studies pp. 474-497

Peter T. Bauer

The Reserve Base, Reserve Requirements, and the Equilibrium Rate of Interest: Comment pp. 498-504

Paul A. Meyer

The Reserve Base, Reserve Requirements, and the Equilibrium Rate of Interest: Reply pp. 504-507

Herschel Grossman

The Impact of Alternative Government Policies under Varying Exchange Systems: Comment pp. 508-510

Michael Michaely

The Impact of Alternative Government Policies under Varying Exchange Systems: Reply pp. 511-513

Anne O. Krueger

Linear Decision Rules for Economic Stabilization and Growth: Comment pp. 514-518

W. Lynn Holmes

The Solution of Qualitative Comparative Static Problems: Comment pp. 519-523

Lowell Bassbtt

The Badly Behaved Production Function: Comment pp. 524-525

Michael Bruno, Edwin Burmeister and Eytan Sheshinski

Regional Allocation of Investment: Corrigendum pp. 526-527

Akira Takayama

Volume 82, issue 2, 1968

Housing Segregation, Negro Employment, and Metropolitan Decentralization pp. 175-197

John Kain

The Effects of Specific and Ad Valorem Taxes pp. 198-218

Robert L. Bishop

Capacity Utilization and Production Function Estimation in Postwar American Manufacturing pp. 219-239

C. Lovell

Collusion in Oligopoly: An Experiment on the Effect of Numbers and Information pp. 240-259

F. T. Dolbear, Lester Lave, G. Bowman, A. Lieberman, Edward Prescott, F. Rueter and R. Sherman

Performance Criteria for Evaluating Economic Development Potential: An Operational Approach pp. 260-280

Irma Adelman and Cynthia Taft Mobeis

Productivity Change in British Pig Iron, 1870–1939 pp. 281-296

Donald N. McCloskey

Israel and the European Economic Community pp. 297-312

Mordechai Kreinin

Monetary and Fiscal Policy: Goals and the Choice of Instruments pp. 313-325

David J. Ott and Attiat F. Ott

Stability Conditions in the Pure Theory of International Trade: A Rehabilitation of the Marshallian Approach pp. 326-339

Akihiro Amano

Indirect Taxes and Relative Prices: Comment pp. 340-343

John F. Due

Indirect Taxes and Relative Prices: Reply pp. 344-345

Ann F. Friedlaender

Volume 82, issue 1, 1968

The Political Economy of Import-Substituting Industrialization in Latin America pp. 1-32

Albert Hirschman

The Cost of Transacting pp. 33-53

Harold Demsetz

Credit Rationing, Interest Rate Lags, and Monetary Policy Speed pp. 54-84

Donald P. Tucker

Wage Rates as a Barrier to Entry: The Pennington Case in Perspective pp. 85-116

Oliver Williamson

Wage-Determination Process in U.S. Manufacturing pp. 117-142

Sara Behman

Upward Labor Mobility: Opportunity or Incentive? pp. 143-151

Alan K. Severn

Factor Proportions, Human Capital and Foreign Trade: The Case of West Germany Reconsidered pp. 152-160

Karl W. Roskamp and Gordon C. McMeekin

A Model of the Demand for Money by Firms: Comment pp. 161-164

Martin Weitzman

Per Capita Consumption and Growth: Comment pp. 165-167

Trent J. Bertband

Volume 81, issue 4, 1967

The Firm's Optimal Debt-Equity Combination and the Cost of Capital pp. 547-578

William Baumol and Burton G. Malkiel

The Badly Behaved Production Function pp. 579-591

Joan Robinson and K. A. Naqvi

The Allocation of Investment in a Dynamic Economy pp. 592-609

Karl Shell and Joseph Stiglitz

The Effect of the Competitive Structure upon Expenditures for Advertising pp. 610-627

Julian L. Simon

Gresham's Law, Asset Preferences, and the Demand for International Reserves pp. 628-638

Robert Z. Aliber

Market Structure, Product Differentiation, and Industrial Research pp. 639-657

William S. Comanor

Tradeoff Between Aggregate Efficiency and Interregional Equity: A Static Analysis pp. 658-674

Koichi Mera

An Optimal Unemployment Rate pp. 675-683

A. R. Dobell and Y. C. Ho

The Determination of Money Wages in American Industry: Comment pp. 684-689

Timothy W. McGuire and Leonard A. Rapping

The Determination of Money Wages in American Industry: Reply pp. 690-694

Otto Eckstein and Thomas A. Wilson

Benefit-Cost Analysis: Its Relevance to Public Investment Decisions: Comment pp. 695-699

Robert H. Haveman

Benefit-Cost Analysis: Its Relevance to Public Investment Decisions: Reply pp. 700-702

Arthur Maass

The Optimality of Pure Competition in the Capacity Problem: Comment pp. 703-705

James Buchanan

The Optimality of Pure Competition in the Capacity Problem: Reply pp. 705-706

Lawrence H. Officer

Volume 81, issue 3, 1967

Research and Development Resource Allocation Under Rivalry pp. 359-394

F. M. Scherer

Economics of the Military Draft pp. 395-421

W. Lee Hansen and Burton A. Weisbrod

Economies of Scale in Cash Balances Reconsidered pp. 422-436

Karl Brunner and Allan Meltzer

A Peek at the Tradeoff Relationship Between Expected Return and Risk pp. 437-456

Robert Summers

Big Steel, Invention, and Innovation, Reconsidered pp. 457-474

Alan K. McAdams

Big Steel, Invention, and Innovation: Reply pp. 475-482

Walter Adams and Joel B. Dirlam

The Law of Demand — The Roles of Gregory King and Charles Davenant pp. 483-492

G. Heberton Evans

Financial Intermediary Lending Behavior in the Postwar Canadian Mortgage Market pp. 493-514

Lawrence B. Smith

Fiscal and Monetary Policies Under Alternative Exchange-Rate Systems pp. 515-523

Egon Sohmen

On the Sensitivity of the Level of Output to Savings: Embodiment and Disembodiment pp. 524-528

David Levhari and Eytan Sheshinski

Large Economic Units, Banks, and the Transactions Demand for Money: Comment pp. 529-531

Myeon H. Ross

Employment and Industrialization: Reply pp. 532-533

Werner Baer and Michel E. A. Hervé

The Friedman-Savage Hypothesis and Convex Acceptance Sets: A Reconciliation pp. 534-535

Richard N. Rosett

Volume 81, issue 2, 1967

An Index-Number Tournament pp. 169-188

Evsey D. Domar

The Efficient Allocation of Resources in Education pp. 189-219

Samuel Bowles

Earnings and Employment in Eastern Europe, 1957 to 1963 pp. 220-240

Walter Galenson and Alan Fox

The Path to Equilibrium pp. 241-255

John Burr Williams

The General Irrelevance of the General Impossibility Theorem pp. 256-270

Gordon Tullock

The Pricing of Food in India pp. 271-285

Ali M. Khusro

Export Stagnation and Autarkic Development in Brazil, 1947–1962 pp. 286-301

Nathaniel H. Leff

Profits, Learning and the Convergence of Satisficing to Marginalism pp. 302-311

Richard H. Day

The Reserve Base, Reserve Requirements, and the Equilibrium Rate of Interst pp. 312-320

Herschel Grossman

Multi-Period Expectations and the Term Structure of Interest Rates pp. 321-329

Dudley G. Luckett

Regional Allocation of Investment: A Further Analysis pp. 330-337

Akira Takayama

Employment and Industrialization in Developing Countries: Comment pp. 338-342

David F. Ross

Minimum Wages, Factor Substitution and the Marginal Producer: Comment pp. 343-346

Cornelia Little Motheral

Price Changes and the Rate of Change of Money Wage Earnings in the Light of American Data pp. 347-350

Charles C. Holt and Kyu Sik Lee

Collective-Consumption Services of Individual-Consumption Goods: Comment pp. 351-352

Millard F. Long

Volume 81, issue 1, 1967

International Capital Movements and the Theory of Tariffs and Trade pp. 1-38

Ronald Jones

The Causes of Poverty pp. 39-57

Lester Thurow

The Firm Decision Process: An Econometric Investigation pp. 58-87

Dennis C. Mueller

Ownership and the Production Function pp. 88-111

L. S. Shapley and Martin Shubik

Isolation, Assurance and the Social Rate of Discount pp. 112-124

Amartya K. Sen

Indirect Taxes and Relative Prices pp. 125-139

Ann F. Friedlaender

Marginal Versus Average Input Coefficients in Input-Output Forecasting pp. 140-145

C. B. Tilanus

The Existence of Golden Ages and Stability in the Two-Sector Model pp. 146-154

Edwin Burmeister

The Relationship Between Nationalism and Per Capita Gross National Product: Comment pp. 155-157

Morris Silver

The Effects of Ad Valorem and Specific Taxes on Prices: Comment pp. 158-160

Alice John Vandermeulen

The Effects of Ad Valorem and Specific Taxes on Prices: Reply pp. 160-161

Paul J. Taubman

Employment and Industrialization: Comment pp. 162-164

Benjamin I. Cohen and Nathaniel H. Leff