Journal of Economic Studies: Volume 10 Issue 3

Capital Utilisation, Capital Intensity and Factor Productivity: A Comparison of Factories in Developing and Industrialised Countries

J. Stuart Wabe, José Gutierrez‐Camara

Data on shift‐working, annual hours and employment are used to derive alternative measures of capital utilisation in seven countries. There is a positive relationship between…

Diversifying Mergers and Risk: Some Empirical Tests

R.S. Thompson

This article examines the impact of substantial mergers on systematic risk — market model beta — estimates for a sample of large UK companies. Unlike the previous US studies in…

Functional and Structural Breaks in the UK Demand for Money Function: 1963–1979

Leslie T. Oxley

Estimates of the UK demand for money function are obtained utilising the Box‐Cox family of power transformations based on a Bank of England adjusted data set for the period 1963I…

The “Multiplier” in Economic Literature

Lauchlin Currie

From time to time various economists have been attracted to the idea of a multiplier. Probably the most noted and most discussed has been the Keynesian Multiplier — the relation…

Wicksell's Critique of Ricardo's Chapter “On Machinery”

Bjorn Hansson

The purpose of this article is to look at Wicksell's critique of Ricardo's analysis of the effects of the introduction of machinery in the third edition of The Principles. It is…

Review Article: Decisions, Process and the Market

G.L.S. Shackle

This work of imaginative splendour is the product, in the first place, of Israel Kirzner's magnificient effort in designing, directing and editing a symposium in honour of Ludwig…