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Read e-book online Variations in Economic Analysis: Essays in Honor of Eli PDF

By J. Richard Aronson, Harriet L. Parmet, Robert Thornton

ISBN-10: 1441911812

ISBN-13: 9781441911810

For over fifty years, Eli Schwartz has encouraged generations of scholars and economists via his many courses and commitment to instructing. In 2008, the Martindale heart for the examine of non-public company at Lehigh college invited in demand lecturers and practitioners—including Nobel Prize recipients Robert Solow and Harry Markowitz, and previous Chairman of the Council of monetary Advisers below Ronald Reagan, Murray Weidenbaum—to give a contribution items that mirror their ways to concerns lots of which Schwartz has explored over the span of his lengthy occupation. The twelve unique essays disguise a number of subject matters, together with tax reform, company finance, monetary coverage, banking, financial progress, and globalization, they usually signify various methodologies, together with fiscal idea, econometrics, and case research. the gathering emphasizes the underlying connections between likely disparate aspects of monetary task, and underscores the enormous impression of Schwartz on fiscal research and coverage at the present time.

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Extra resources for Variations in Economic Analysis: Essays in Honor of Eli Schwartz

Example text

PSS also has major weaknesses. First there is the need to find financing to carry out the transition from the present pay-as-you-go system. The financing gap occurs because privatization requires diversion of current Social Security tax contributions from their original role of paying pensions to their new role of accumulating wealth in the accounts of presently employed workers. The money to support current retirees will have to come from new tax revenues or from the sale of new federal debt. Note that there is one special condition under which it would be sufficient to finance the transition from the sale of new debt to the PSS Trust Fund.

Thus, in the investment equation dividends may be expected to have a negative impact, while external finance will have a positive one. The External Finance Equation. Enough has been said in connection with the other two equations to make the hypothesized form of the external finance equation clear. One would expect to have this variable depend positively on investment, negatively on the market interest rate, and negatively on depreciation and profits. The relationship of external finance to dividends, however, is not very clear-cut.

S. Department of Housing and Urban Development (2006). American Housing Survey. The Corporate Sector as a Net Exporter of Funds: Additional Evidence John B. Guerard, Jr. Using aggregate data, Schwartz and Aronson (1966) documented the role of the corporate sector in generating more funds than it can profitability use over 40 years from 1924–1964. One of the primary issues behind the corporate sector exporting funds was the controversy of dividends. Schwartz and Aronson noted that aggregate dividends far exceeded net new external financing.

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Variations in Economic Analysis: Essays in Honor of Eli Schwartz by J. Richard Aronson, Harriet L. Parmet, Robert Thornton


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