Irving Fisher and his compensated dollar plan

Prices ; Dollar, American

O que os países desenvolvidos podem aprender com a indexação

Quando ouvi o discurso de abertura desta conferencia, proferido por Affonso Pastore, tive a impressão de que tínhamos vindo dos quatro cantos do mundo para ouvir o Evangelho da Indexação, segundo São Paulo. Sendo este o caso, entendi ser necessário lembrar que, historicamente, o Evangelho de São Paulo se originou de sermões ministrados em Jerusalém. Da mesma forma, como Ephraim Kleiman explicou em seu trabalho, a indexação vem sendo um fenômeno familiar em Israel há mais de três décadas, remontando ao período da Segunda Guerra Mundial. Consequentemente, o que gostaria de fazer nestas observagoes finais e tirar proveito da experiencia com a indexagao de ambos os países — o que aprendi sobre o Brasil nesta conferência, aliado ao que sei sobre meu proprio país — para verificar que ligoes as economias mais avangadas podem aprender. Somente lastimo que, devido a falta de conhecimenlo, eu não possa basear minha discussão também na experiência finlandesa

Penerapan Emotion-Focused Therapy dalam Menurunkan Depresi Lansia yang tinggal di Panti Wreda

Penelitian ini memiliki tujuan untuk mengetahui pengaruh pemberian Emotion-Focused Therapy (EFT) pada penurunan gejala depresi pada lansia di panti wreda. Metode yang digunakan dalam penelitian ini adalah single subject experiment atau single case experiment. Pada penelitian ini, terdapat tiga orang lansia yang menjadi partisipan (L1: 78 tahun, L2: 73 tahun, dan L4: 82 tahun). Ketiga partisipan telah mengikuti rangkaian eksperimen berupa delapan sesi EFT. Penelitian ini menggunakan sejumlah teknik pengumpulan data, seperti observasi, wawancara, dan dua buah skala. Skala yang pertama adalah Beck Depression Inventory-II (BDI-II) sebagai instrumen seleksi partisipan dan instrumen kedua adalah Geriatric Depression Scale-15 (GDS-15) yang akan diberikan kepada partisipan sepanjang proses eksperimen. Hasil perolehan data GDS-15 dianalisis menggunakan analisis visual dengan aplikasi statistik R. Hasil dari penelitian ini menunjukkan bahwa pemberian EFT dapat menurunkan depresi pada partisipan lansia. Turunnya depresi pada partisipan dapat dicermati lebih saksama pada penurunan gejala-gejala depresi setiap partisipan

An archival case study : revisiting the life and political economy of Lauchlin Currie

This paper forms part of a wider project to show the significance of archival material on distinguished economists, in this case Lauchlin Currie (1902-93), who studied and taught at Harvard before entering government service at the US Treasury and Federal Reserve Board as the intellectual leader of Roosevelt's New Deal, 1934-39, as FDR's White House economic adviser in peace and war, 1939-45, and as a post-war development economist. It discusses the uses made of the written and oral material available when the author was writing his intellectual biography of Currie (Duke University Press 1990) while Currie was still alive, and the significance of the material that has come to light after Currie's death

A hyperbolic model of optimal cash balances

We develop a hyperbolic cash management model based on the Pearson Type IV probability density which minimises extreme variations in firm cash balances. Since the moments for the Type IV probability density are in general undefined and maximum likelihood estimation is compromised by the non-algebraic nature of the Type IV normalising constant, parameter estimation is implemented using the minimum method. Empirical analysis shows that the Type IV density is highly compatible with the quarterly cash flow data of a randomly selected sample of 100 large U.S. corporations. In contrast, around 60% of the 100 corporations return Jarque–Bera test statistics which are incompatible with the Gaussian probability density

Hawtreyan 'credit deadlock' or Keynesian 'liquidity trap'? Lessons for Japan from the great depression

This paper outlines the ideas of Ralph Hawtrey and Lauchlin Currie on the need for monetised fiscal deficit spending in 1930s USA to combat the deep depression into which the economy had been allowed to sink. In such exceptional circumstances of 'credit deadlock' in which banks were afraid to lend and households and business afraid to borrow, the deadlock could best be broken through the spending of new money into circulation via large fiscal deficits. This complementarity of fiscal and monetary policy was shown to be essential, and as such indicates the potential power of monetary policy - in contrast to the Keynesian "liquidity trap" view that it is powerless This lesson was not learned by the Japanese authorities in their response to the asset price collapse of 1991-92, resulting in a lost decade as ballooning fiscal deficits were neutralised throughout the 1990s by unhelpfully tight monetary policy with the Bank of Japan refusing to monetise the deficits