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Ricardo and Thornton on the Transfer Mechanism

Herbert Grubel ()

The Quarterly Journal of Economics, 1961, vol. 75, issue 2, 292-301

Abstract: I. Scope of paper, 292. — II. Basic gold standard model introduced by Hume, 293. — III. Extension of basic model by Ricardo, 294. — IV. Thornton's refinements of theory, 297. — V. Working of models under paper standard, 298. — VI. Analysis of subsidy payments in both models, 300. — VII. Conclusion, 301.

Date: 1961
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