Journal of Political Economy

1893 - 2025

From University of Chicago Press
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Volume 80, issue 6, 1972

An Econometric Analysis of Rent Control pp. 1081-1100

Edgar Olsen

Estimates of Labor Aggregation Functions pp. 1101-19

C R S Dougherty

Specific Human Capital: An Application to Quit Rates and Layoff Rates pp. 1120-43

Donald Parsons

A Microeconometric Study of Hospital Cost Inflation pp. 1144-66

David S Salkever

Economies of Scale, Technical Progress, and the Nonhomothetic Leontief Production Function: An Application to the Japanese Petrochemical Processing Industry pp. 1167-87

Lawrence J Lau and Shuji Tamura

The Effects of Pre-Civil War Territorial Expansion on the Price of Slaves pp. 1188-1202

Peter Passell and Gavin Wright

The Risk Element in Occupational and Educational Choices pp. 1203-13

Yoram Weiss

The American Automobile Industry: Investment Demand, Capacity, and Capacity Utilization, 1921-1940 pp. 1214-31

Lloyd J Mercer and W Douglas Morgan

Consumption Possibilities, Growth, and the Optimal Commercial Policy pp. 1232-45

Philip Musgrove

Income Expectations and the Consumption of Graduate Students pp. 1246-58

Alan Gustman and Frank P Stafford

Testing a Model of the Term Structure of Interest Rates in an Error-learning Framework pp. 1259-70

Charles Nelson

Long-Run Factor Demand in a Perfectly Competitive Industry pp. 1271-79

S Charles Maurice

The Upward Bias in the Consumer Price Index due to Substitution pp. 1280-86

Nicholas N Noe and George von Furstenberg

Imperfect Knowledge and the New Theory of Demand pp. 1287-94

Douglas Auld

Criteria for Public Investment: Comment pp. 1295-1313

Daniel McFadden

Criteria for Public Investment: Reply pp. 1314-16

E J Mishan

The Effects of Price Supports on Output and Factor Prices in Agriculture: A Reply pp. 1317-19

John Floyd

Comparative Statics When the Objective Function is Concave: Old Wine in Old Bottles? pp. 1320-22

Mohamed A El-Hodiri

Why 22,31,000 for a Velazquez?: An Auction Bidding Rule pp. 1323-27

B S Yamey

Volume 80, issue 5, 1972

Friedman's Monetary Theory pp. 837-51

Karl Brunner and Allan Meltzer

Friedman's Theoretical Framework pp. 852-63

James Tobin

A Keynesian View of Friedman's Theoretical Framework for Monetary Analysis pp. 864-82

Paul Davidson

Friedman on the Quantity Theory and Keynesian Economics pp. 883-905

Don Patinkin

Comments on the Critics pp. 906-50

Milton Friedman

Money, Debt, and Economic Activity pp. 951-77

Karl Brunner and Allan Meltzer

Inflationary Finance and the Welfare Cost of Inflation pp. 978-1001

Robert Barro

Optimal Economic Stabilization Policy: An Extended Framework pp. 1002-22

Benjamin M Friedman

Human Capital Losses Resulting from U.S. Casualties of the War in Vietnam pp. 1023-30

B F Kiker and Jon Birkeli

Extinction of a Fishery by Commercial Exploitation: A Note pp. 1031-38

J R Gould

On the Possibility of a Market for Externalities pp. 1039-44

William C Wheaton

Externalities, Welfare, and the Feasibility of Corrective Taxes pp. 1045-51

Richard Dusansky and Peter J Kalman

The Heckscher-Ohlin Theorem in the Multi-Commodity Case pp. 1052-55

Jagdish N Bhagwati

Professor Stigler on Dupuit and the Development of Utility Theory: Comment pp. 1056-59

Robert Ekelund

Maintenance of Slum Housing: Optimal Policy Subject to a Political Constraint pp. 1060-66

Benton F Massell

Slum Housing: A Further Word pp. 1067-68

Stanley Lebergott

Volume 80, issue 4, 1972

Market Insurance, Self-Insurance, and Self-Protection pp. 623-48

Isaac Ehrlich and Gary Becker

The Optimal Full-Employment Surplus pp. 649-61

Martin J Bailey

Peak-Load Pricing Under Regulatory Constraint pp. 662-79

Elizabeth Bailey

The Economics of Jury Conscription pp. 680-702

Donald L Martin

An Economic Measure of Capacity in a Joint Product, Multiprocess Industry pp. 703-23

James M Griffin

Structure of Revealed Preference: Some Preliminary Evidence pp. 724-44

Anthony Y C Koo and Georg Hasenkamp

The Concept and Measurement of Permanent Industrial Concentration pp. 745-60

Irvin M Grossack

On Models of Commercial Fishing: A Defense of the Traditional Literature pp. 761-68

Richard F Fullenbaum, Ernest W Carlson and Frederick W Bell

Policy Prescriptions in Bionomic Models: The Case of the Fishery pp. 769-75

Clive Southey

On Models of Commercial Fishing: The Traditional Literature Needs No Defenders pp. 776-78

Vernon L Smith

Token Economies and Experimental Economics pp. 779-85

John Kagel

Further Evidence on the Elasticity of Substitution among Different Types of Educated Labor pp. 786-92

George Psacharopoulos and Keith Hinchliffe

Direct Income and Substitution Effects in Participation Decisions pp. 793-95

Barry Hughes

Welfare Indexes with Interindustry Flows: Comment pp. 796-800

Trent J Bertrand

Welfare Indexes with Interindustry Flows: Rejoinder and a Further Extension pp. 801-02

Jaroslav Vanek

Ramsey's Investment Criterion pp. 803-06

Peter A Frost and Lawrence D Schall

Ramsey's Investment Criterion: A Reply pp. 807-10

James B Ramsey

On the Enigma of Inflationary Gaps pp. 811-17

Barbara Henneberry and James G Witte

The Financing of Inflationary Gaps: Rejoinder pp. 818-21

George Horwich

Aerospace Profits and Renegotiation: A Comment pp. 822-26

Arthur E Burns

Aerospace Profits and Renegotiation: A Reply pp. 827-28

A M Agapos and Lowell E Gallaway

The Rational Consumer's Demand for Psychiatric Help: A Preference Function Generating a Perfectly Price-inelastic Demand Function pp. 829-32

H H Liebhafsky

Volume 80, issue 3, 1972

Optimal Investment in College Instruction: Equity and Efficiency pp. S2-S30

Theodore W Schultz

Optimal Investment in College Instruction: Equity and Efficiency: Comment pp. S31-S33

Anne O Krueger

Time-Series Changes in Personal Income Inequality in the United States from 1939, with Projections to 1985 pp. S34-S66

Barry Chiswick and Jacob Mincer

Time-Series Changes in Personal Income Inequality in the United States from 1939, with Projections to 1985: Comment pp. S67-S71

Mary Jean Bowman

Time-Series Changes in Personal Income Inequality in the United States from 1939, with Projections to 1985: Comment pp. S72-S73

Thomas Johnson

Education, Income, and Ability pp. S74-S103

Zvi Griliches and William M Mason

Education, Income, and Ability: Comment pp. S104-S07

Paul Taubman

Earnings Profile: Ability and Schooling pp. S108-S38

John C Hause

Earnings Profile: Ability and Schooling: Comment pp. S139-S41

Burton A Weisbrod

Equity Implications of State Tuition Policy and Student Loans pp. S142-S71

Robert W Hartman

Equity Implications of State Tuition Policy and Student Loans: Comment pp. S172-S74

Douglas M Windham

Equity Implications of State Tuition Policy and Student Loans: Comment pp. S175-S77

Luther Tweeten

On Tuition and the Costs of Higher Education: Prolegomena to a Conceptual Framework pp. S178-S218

Marc Nerlove

Schooling and Inequality from Generation to Generation pp. S219-S51

Samuel Bowles

Schooling and Inequality from Generation to Generation: Comment pp. S252-S55

Gary Becker

Note on the Intergenerational Transfer of Public Higher-Education Benefits pp. S256-59

Joseph A Pechman

Equity and the Finance of Higher Education pp. S260-S73

W Lee Hansen

Equity and the Finance of Higher Education: Comment pp. S274-76

Oswald H Brownlee

Equity and the Finance of Higher Education: Comment pp. S277-S79

Finis Welch

The Alternatives before Us pp. S280-S89

Harry G Johnson

Racial Discrimination and Trade Unionism pp. 435-64

Orley Ashenfelter

Economies of Scale and Customs Union Theory pp. 465-75

Warner Corden

Pareto Optimality and the Political Economy of Liberalism pp. 476-90

Alan T Peacock and Charles Rowley

Crime, Youth, and the Labor Market pp. 491-504

Llad Phillips, Votey, Harold L, and Darold Maxwell

On Marx's Scheme of Reproduction and Accumulation pp. 505-22

Donald J Harris

A Macro Model of the Endogenous Business Cycle in Marxist Analysis pp. 523-39

Robert V Eagly

Workers' Management and Interindustry Wage Differentials in Yugoslavia pp. 540-60

Howard M Wachtel

Changes in Industrial Structure in Yugoslavia, 1959-1968 pp. 561-74

Stephen R Sacks

Optimum Durability, Second-Hand Markets, and Planned Obsolescence pp. 575-85

Peter Swan

A Note on Monopolistic Competition and Excess Capacity pp. 586-91

Richard Schmalensee

The Inconsistencies in Monopolistic Competition: A Reply pp. 592-97

Harold Demsetz

Monopoly and Contrived Depreciation pp. 598-602

Robert Barro

Emigration: A Bearer of Welfare Loss? pp. 603

Donald Wellington

Comment on "Emigration: A Bearer of Welfare Loss." pp. 604-07

R Albert Berry and Ronald Soligo

Revealed Planners' Preferences Once Again: A Rebuttal to Drewnowski pp. 608-11

Paul Craig Roberts

The Portfolio Approach to Capital Movements: A Comment pp. 612-16

Peter B Clark and Richard D Haas

The Economics of Reducing Faculty Teaching Loads pp. 617-19

Richard B McKenzie

Volume 80, issue 2, 1972

On the Concept of Health Capital and the Demand for Health pp. 223-55

Michael Grossman

Testing the Assumptions of Production Theory: A Nonparametric Approach pp. 256-75

Giora Hanoch and Michael Rothschild

On Golden Rules, the "Biological Theory of Interest," and Competitive Inefficiency pp. 276-91

David A Starrett

Short-Run Flexibility in a Developing Economy pp. 292-313

Jere Behrman

Externalities and the Race for Economic Growth in the USSR: Will the Environment Ever Win? pp. 314-27

Marshall I Goldman

An Application of Cost-Benefit Analysis to Management Education pp. 328-46

Samuel Paul

Experimental Economics Revisited pp. 347-52

Thomas H Naylor

What Was Left on Viner's Desk pp. 353-64

Fritz Machlup

Inflation and Real Interest Rate: A Long-Term Analysis pp. 365-74

Edi Karni

Experimental Evidence on Price Formation in Competitive Markets pp. 375-85

Alan C Hess

Inventory Holdings, Rational Expectations, and the Law of Supply and Demand pp. 386-93

Bennett McCallum

A Note on the Nature of Equilibrium in Monopolistic Competition pp. 394-402

William C Perkins

A Test of the Permanent-Income Hypothesis of the Demand for Money Using Grouping as an Instrumental Variable pp. 403-08

Richard E Peterson

Disaggregation and Calculations of the Welfare Cost of a Tax pp. 409-17

Ronald F Hoffman

On the Net Present Value Rule for Educational Investments pp. 418-20

Elchanan Cohn

Optimal Enforcement of Laws: A Comment pp. 421

Thomas R Ireland

Volume 80, issue 1, 1972

What the World Thought of Jacob Viner pp. 1-4

Fritz Machlup

Jacob Viner, 1892-1970 pp. 5-11

Paul A Samuelson

Jacob Viner at Princeton pp. 12-15

William Baumol

Domestic Resource Costs and Effective Protection: Clarification and Synthesis pp. 16-33

Michael Bruno

Input Substitution and the Concept of the Effective Rate of Protection pp. 34-47

Wilfred Ethier

Evaluating Restrictionist Trade Regimes: Theory and Measurement pp. 48-62

Anne O Krueger

Domestic Resource Costs and Effective Protection Once Again pp. 63-69

Bela Balassa and Daniel M Schydlowsky

Research and Development Costs and Returns: The U. S. Pharmaceutical Industry pp. 70-85

Martin Neil Baily

The Effect of Urban Renewal on Municipal Service Expenditures pp. 86-101

John C Weicher

Additive Utility Functions with Double-Log Consumer Demand Functions pp. 102-24

Kazuo Sato

Demographic Effects and the Multiperiod Consumption Function pp. 125-38

Dale M Heien

Lifetime Excess Burden of a Tax pp. 139-47

David Levhari and Eytan Sheshinski

Technological Externalities and Common-Property Resources: An Empirical Study of the U. S. Northern Lobster Fishery pp. 148-58

Frederick W Bell

Monetary Reform and the Payment of Interest on Money pp. 159-70

Roger Waud

A New Program for More Monetary Stability pp. 171-75

Thomas Havrilesky

A Note on Rules, Authorities, and Information pp. 176-78

A A Walters

The Specification of the Demand for Money and the Tax Multiplier pp. 179-85

James M Holmes and David J Smyth

Unemployment in the Great Depression: Is There a Full Explanation? pp. 186-91

Robert Lucas and Leonard A Rapping

Real Wages and Inflation: Rejoinder pp. 192

Albert Rees

Differential Tax Incidence: Large versus Small Tax Changes pp. 193-97

Melvyn B Krauss

Changing Domestic Demand and Ability to Export pp. 198-202

Robert C Hsu

Why the American Tourist Abroad Is Cheated: A Price-theoretical Analysis pp. 203-07

John Adams

Aesop's Paradox: The Classical Critique of Democratic Decision Processes pp. 208-12

William Fischel