Hostname: page-component-cd9895bd7-mkpzs Total loading time: 0 Render date: 2024-12-27T12:32:43.215Z Has data issue: false hasContentIssue false
  • English
  • Français

The Quantity Theory and the Income Expenditure theory in an Open Economy, 1926-1958: a Comment

Published online by Cambridge University Press:  07 November 2014

Clarence L. Barber
Clarence L. Barber*
Affiliation:
University of Manitoba
Get access

Abstract

An abstract is not available for this content so a preview has been provided. Please use the Get access link above for information on how to access this content.
Image of the first page of this content. For PDF version, please use the ‘Save PDF’ preceeding this image.'
Type
Notes
Information
Canadian Journal of Economics and Political Science/Revue canadienne de economiques et science politique , Volume 32 , Issue 3 , August 1966 , pp. 375 - 377
Copyright
Copyright © Canadian Political Science Association 1966

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

1 “The Quantity Theory and the Income Expenditure Theory in an Open Economy: Canada, 1926-1958,” this Journal, XXX (08 1964), 368-90.Google Scholar

2 Ibid., 376.

3 Ibid., 375.

4 Friedman, Milton and Meiselman, David, “The Relative Stability of Monetary Velocity and the Investment Multiplier in the United States, 1897 to 1958,” Brown, E. C. et al., Stabilization Policies (Englewood Cliffs, NJ, 1963), 184.Google Scholar

5 See National Accounts: Income and Expenditure, 1964 (Ottawa, 1965), 26-7.Google Scholar

6 The residual error of estimate appears both in Macesich's estimate of autonomous expenditures and as part of the difference between these two versions of this estimate because of the fact that in Canadian estimates the residual error as originally derived is divided by two, with one-half being added to the smaller side of the accounts and the other half subtracted from the larger side.

7 “The Quantity Theory … in Canada,” 368.

8 “The original statement of Mundell's thesis appeared in an earlier issue. See Mundell, R. A., “Capital Mobility and Stabilization Policy under Fixed and Flexible Exchange Rates,” this Journal, XXIX (11 1963), 475-85.Google Scholar

9 The percentage given for Canada is the decline from 1928 to 1933. Use of 1929 as a base would be misleading because of the rather large inventory reduction in agriculture in that year, a reduction that reflected the large grain crop of 1928 and the much smaller crop of 1929.