A. Asimakopulos, The Role of Finance in Keynes’s General Theory, p. 5 L.S. Davidson, M. Fratianni, Economic Growth in the 1970s and Beyond, p. 17 P. Ferri, Wage Dynamics and Instability Processes, p. 35 U. Sacchetti, What Can Be Learned from the 1981-84 U.S. Experience, p. 49 G.P. Rossini, Price Uncertainty and International Specialization, p. 89 M. Villani, Productivity and Purchasing Power Parity, p. 101 F. Del Bono, On the Determination of Effective Demands in Benassy’s Model, p. 115 G. Ferri, S. Jafarey, Banking Crises and Welfare Implications of Foreign Lending under Informationally Limited Spatial Horizons, p. 121 C.D. DeLorme, D.A. Elliott, D.R. Kamerschen, The S. Louis Federal Reserve Bank, 1960-1985, p. 134 Reviews of Books, p. 165 Bibliographical Notes, p. 175

G. Marini, Built-in Flexibility of Taxation, Publc Spending Rules and Stabilisation Policy, p. 5 M. Krüger, A Reconsideration of the Stability Properties of Goodwin’s Model of the Growth Cycle, p. 22 A. Wörgötter, Supply Shocks, Stagflation and Wage Restraint, p. 38 O.O. Chisaru, Growth, Inflation and Rules of Active and Passive Mark-up Factor, p. 57 M. Pugno, Are Long Waves Relevant in Economic Life? A Note, p. 68 J.M. Barata, A Global Model of Bank Profitability, A Non-Competitive Market Case With Restrictive Monetary Policy, p. 78 C. Bianchi, G. Calzolari, p. Corsi, L. Panattoni: Asymptotic Properties of Dynamic Multipliers in Nonlinear Econometric Models, p. 97 D.J. Roddy – E.O. Simos – J.E. Triantis, A Two-Output, Multi-Input Model of Exogenous and Endogenous Technological Change of the US Economy, p. 118 J. Winiecki, Central Planning and Export Orientation in Manufactures. Theoretical Considerations on the Impact of System-Specific Features on Specialization, p. 132 R. Rinaldi, Interrelationships Between the Floating Exchange Rate, Money and Price. A Test of Causality Applied to the Italian Experience: Some Comments, p. 154 J. Pippenger, Stock Flow Versus Efficient Commodity Markets: A Test of Alternative Theories, p. 167 S. Rashid, Envy Stimulates Competition, p. 171 V. Tanzi, G. Iden, The Impact of Taxes on Wages: Reply, p. 175 Reviews of Books, p. 179 Bibliographical Notes, p. 185

T. Ozawa, On New Trends in Internationalization: A Synthesis toward a General Model, p. 5 M.L. Petit, Path Controllability of Dynamic Economic Systems, p. 26 G.M. Bartoli, E. Lecaldano Sasso Laterza, Microeconomic Foundations of Aggregate Behaviour of Firms in Kalecki and Some of His Followers, p. 43 R. Mac Donald, Do Deviations of the Real Effective Exchange Rate Follow a Random Walk?, p. 63 A.Tramontana, The Wealth Effect of the Public Debt: A Macroeconomic Approach, p. 71 J.A. Boquist, M.S. Long, Capital Equilibrium for the Energy Industry, 1977-2000, p. 104 G. Giovannetti, The International Transmission of Price Level and Output Disturbances Between Raw Material Producer Countries and Industrial Countries: A Theoretical Analysis, p. 148 M. Wallace, Fiscal Expansion and Falling Interest Rates? Another Case Against Crowding Out, p. 162 J.N. Smithin, The Market Mechanism Versus the Historical Process as the Source of Economic Controversy, p. 169 S.M. Renas, What Role Do Lagged Values of Target Variables Play Monetary Policy?, p. 177 Reviews of Books, p. 184 Bibliographical Notes, p. 189

U. Pagano, Welfare, Productivity and Self-Management, p. 5 G. Gronchi, On Karmel’s Criterion for Optimal Truncation, p. 21 NOTES AND COMMENTS P.C. Afxentiou, The Envelope Curve and Market Structure: A Pedagocical Note, p. 31 W.J. Frazer Jr, “The Economics of Supply and Demand” and Friedman, p. 47 P. Praet, J. Vulchen, The Integration of Consumer Survey Results in the Modelling of Privata Consumption in Italy, p. 74 P.K. Mitra, A Note on the New International Economic Order, p. 86 L.M. Tommasini, A Game Theoretic Approach to the Marschak Optimal Incentivies Problem, p. 104 M. Galeotti, On the Micro-foundations of the Lucas Supply Function, p. 115 A. Boitani, Two Views on Oligopoly and Stagnation, p. 128 M.T. Sumner, R. Ward, The impact of Taxes on Wages: A Further Analysis, p. 155 A. Grimes, The Impact of Taxes on Wages: A Comment, p. 163 J.N. Smithin, Medio and Musu’s Keynesian Analysis of Money Wage Changes: A Comment, p. 167 Reviews of Books, p. 172 Bibliographical Notes, p. 177

M. Baldassarri, Optimal Mix of Government Expenditure and Optimal Growth Path for an Open Economy Within a Three Targets-Three Guns Framework, p. 5 F. Farina, Inefficient Equilibrium in V. Lutz’s Two-Sector Model: a Critique, p. 25 NOTES AND COMMENTS S.A. Chapman, The Foreign Debt of the CMEA Nations: A Move towards Adjustment?, p. 51 C. DeLorme Jr, J. Terza, N.J. Wood, Inflation and Political Unrest in Developing Nations, p. 76 D. Bowles, M. Wallace, L. Wang, Crowding Out: A New Perspective, p. 85 M. Ricottilli, The Investment Performance in Three Industrialized Economies: The USA, West Germany and France, p. 90 F. Mattesini, The Wicksell Connection: A Variation an the Theme, p. 121 A. Rizzi, Some Mathematical Properties of Cluster Methods, p. 139 Reviews of Books, p. 156 Bibliographical Notes, p. 167

A. Graziani, The Debate on Keynes’ Finance Motive, p. 5 A. Petretto, A. Viviani, An Econometric Model for Cross-Section Analysis of the Production of Urban Transport Service, p. 35 NOTES AND COMMENTS G. Giovannetti, The Role of the Rate of Interest: From Wicksell to Keynes’ Treatise on Money, p. 66 P. Piacentini, The Real Wage Employment Relationship in the Short-Run in Flex-Price and Fix-Price Markets, p. 87 R. Fiorito, Multisectoral Inventory Cycles Under Different Expectations and Technologies, p. 109 D. Cecchi, Some Notes Regarding Goodwin’s Model “A Growth Cycle”, p. 121 J. O’Connel, Stock Adjustment and the Balance of Payments, p. 136 G.M. Giorgi, A Methodological Survey of Recent Studies for the Measurement of Inequality of Economic Welfare Carried out by Some Italian Statisticians, p. 146 Reviews of Books, p. 159 Bibliographical Notes, p. 165

G. Galli, R.S. Masera, Real Rates of Interest and public Sector Deficits: an Empirical Investigation, p. 5 F. Momigliano, G. Balcet, New Trends in Internationalization: Processes and Theories. Diversified Patterns of Multinational Enterprise and Old and New Forms of Foreign Involvement of the Firm, p. 42 P. De Grauwe, M. Fratianni, U.S. Economic Policies: Are They a Burden on the Rest of the World?, p. 69 NOTES AND COMMENTS N. Keyfitz, Age Effects in Work and Consumption, p. 86 G. Pala, Money, Course of Exchanges and Rate of Exploitation, An lntroductory Marxian Reading, p. 122 D. Schilirò, On Some Aspects of Inflationary Process in Post-Keynesian Macro-Theory, p. 152 A. Rustichini, Equilibrium Points and “Strange Trajectories” in Keynesian Dynamic Models, p. 161 L.F.S. Wang, Input Price Uncertainty and the Optimal Input Demand of the Imperfectly Competitive Firm, p. 180 E. De Nicola, Early Signals of Economic Change Coming from a Group of International Business Climate Indicators, p. 184 G.M. Giorgi, An Analysis of Some Methodological Aspects of a Recent Research Regarding the Classification of Italian Communes, p. 199 Reviews of Books, p. 207 Bibliographical Notes, p. 218 Index, p. 225

G. Bird, Low Income Countries as a Special Case in the International Financial System: An Analysis of Some Proposals for Reform, p. 5 P. Ranuzzi, Some Evidence for European Monetary Union from Eurolink Simulations, p. 23 G. Magnifico, Problems of the World Economy today, p. 49 P. Puccinelli, A Cyclical Model of Large Firms, p. 65 M. Grassini, A System of Demand Equations for Medium to-Long-Term Forecasting with Input-Output Econonometric Models, p. 84 NOTES AND COMMENTS N. Beerchesi, Internal Economic Policies and International Cooperation to Attain International Monetary Stability, p. 99 U. Sacchetti, Conditionality in International Finance and the Crisis of the International Monetary System, p. 120 A. Salanti, Sraffa’s Views About Non-Basics and Ricardo’s “Corn-Model”, p. 145 P.S. Laumas, J. Bausch, On the Proper Specification of the Permanent Income Hypothesis, p. 152 E.O. Simos, J.E. Triantis, Human Wealth and Price Variability in the Demand for Money: U.S. Post-War Evidence, p. 161 Reviews of Books, p. 175 Bibliographical Notes, p. 180 Economic Survey, p. 184

A. Medio, I. Musu, Changes in Money Wages and Employment in a Keynesian Analsis, p. 5 Su Shaozhi, Socialism. China’s Conditons. Modern Science and Technology. Democratization. Development Strategies. A Tentative Discourse on the Chinese Road to Modernization, p. 24 F. Casparini, Productivity Changes and Employment in Small Open Economies, p. 42 M.C. Bicchieri, Economic Welfare and the Distribution of Economic Advantages: Individual Rights Versus Common Goals, p. 59 NOTES AND COMMENTS G. Brosio, G. Pola, The Role of Public Enployment in a Dualistic Economy: The Italian Case, p. 80 P.C. Afxentiou, Economic Development and Goverinment Revenue and Expenditure Theorizing: A Critical Appraisal, p. 98 O.W. Ditz, Demand-Side, Supply-Side, Marketing Philosophy and Beyond, p. 112 I. M. Dean, Public Good Benefits and Interdependence, p. 130 M.S. Izenson, A Brief Note on the Relationship Between Investment and the Interest Rate in the United States, 1970-1979, p. 135 C.L. Lackman, Gallaway’s Labor Force Participation Studies Revisited, p. 140 G. Cucinotta, Bank Corporale Lending in Italy, Germany, United Kingdom During the Decade 1968-1978: A Comparative Study, p. 153 S. Biffignandi, S. Stefani, On Testing the Impact of Inflation on Stock Market: An Approach Through Alternative Methodologies, p. 173 ML. Ruiz, Price Rigidities and the Effects of Revaluation, p. 191 Reviews of Books, p. 196 Bibliographical Notes, p. 213 Economic Survey, p. 217

V. Tanzi, G. Iden, The Impact of Taxes on Wages in the Unitet States: An Example of Supply-Side Economics?, p. 5 G. Magnifico, The Official Role of Gold, p. 20 E. Croci Angelini, p. L. Rizzi, S. Tarditi, Price Discrimination and income Redistribution: A Market Policy Model in the Citrus Sector, p. 31 L.M. Tomasini, A Markovian Decision Process Approach to the Stochastic Cash Balance Problem, p. 49 R.L. King, A.J. Strachan, L. Di Comite, Retun Migration in Southern Italy: A Research Framework, p. 54 NOTES AND COMMENTS Proceedings of the Seminar “Non-Linear Theory of Fluctuating Growth” A. Vercelli, Editor’s Note, p. 69 R. Goodwin, Foreword, p. 71 K. Velupillai, Linear and Nonlinear Dynamics in Economics: The Contributions of Richard Goodwin, p. 73 F. Cugno, L. Montrucchio, Cyclical Growth and Inflation: A Qualitative Approach to Goodwin’s Model with Money Prices, p. 93 B. Balducci, G. Candela, A Model of Growth Cycle with its Application to the Italian Case, p. 108 J. Gombowski, M. Krugher, On Instability Principles in the Context og Growth Cycle Theory, p. 130 A. Medio, New Techniques of Analysis of Business Cyles, p. 148 M. Di Matteo, Two Variations on a Theme by Goodwin, p. 165 A. Vercelli, Is Instability Enough to Discredit a Model?, p. 173 Reviews of Books, p. 191 Bibliographical Notes, p. 195 Economic Survey, p. 199

G. Coda Nunziante, Foreword, p. III F. Caffè, Introduction: A Continuing Cultural Link, p. IX R. Triffin, The World Monetary Scandal: Sources …. and Cures?, p. 1 G. Haberler, Inflation and Incomes Policy, p. 20 C.P. Kindleberger, Assets anid Liabilities of International Economics: The Postwar Bankruptcy of Theory and Policy, p. 47 Lord N. Kaldor, Economic Prospects of the 1980s, p. 67 O. Emminger, The Economic Challenges of the Eighties, p. 87 N. Thygesen, From Stabilization Policy to Structural Policy Some Lessons of the 1970s and Prospects for the 1980s, p. 104 P.W. Kuznets, Response to External Shocks: The Exper-ience of Four Countries in 1973-80, p. 123 M.L. Weidenbaum, The United States in the International Economic System, p. 143 A.B. Laffer, Reinstatement of the Dollar: The Blueprint, p. 158 H. König, W. Gaab, Smoothing Exchange Rates by Central Bank Interventions?, p. 177 A. Bergson, Soviet Consumption in Western Perspective, p. 199 J. Fekete, The Problems of East-West Trade and Finance: A Hungarian View, p. 219 Decennial Index 19721982, p. 243 Statistical Appendix, p. 301

J. Rosenberg, Wage Indexation and Balance of Payments Policy, p. 5 A.G. Malliaris, A Solvable General Equilibrium Growth Model With Money, p. 28 A. Vanzetto, Implicit Contracts and the Theory of Unemployment: Some Refleclions, p. 46 C. Mastropasqua, Was There a Structural Change in the Italian Demand for Aggregate Imports? The Evidence from Quarterly Data 1960-79, p. 65 NOTES AND COMMENTS L.F.S. Wang, Walras’ Law, Government Budget Constraint and Keynesian Balance-of-Payiments Analysis: A Clarification, p. 75 G. Sobbrio, Some Notes on Economic Reforms and Fiscal Policy in Socialist Countries, p. 85 M. Loseby, Public Expenditure in the Agricultural Sector and Reform of the CAP, p. 94 F. Gagliardi, Interrelationship Between the Floating Exchange Rate – Money and Price. A Test of Causality Applied at the Italian Experience, p. 116 W. Frazer, The Velocity-Interest Rate Association: Inflation, Accelerated inflation and Uncertainty, p. 144 G.S. Laumas, Trade Credit and the Stability of the Demand for Money, p. 157 Reviews of Books, p. 164 Bibliographical Notes, p. 175 Economic Survey, p. 179

R.H. Day, Unstable Economic Systems, p. 3 S. Shaozhi, Some Questions in China’s Socialist Economic Construction, p. 18 G. Tullio, Fiscal Deficits, Monetary Growth and Inflation Under Flexible Exchange Rates: the Italian Experience, p. 37 V. Termini, Logical, Mechanical and Historical Time in Economics, p. 58 NOTES AND COMMENTS K.P. Gilliam, W.C. Nunter, Some Normative Aspects of Bank Loan Commitment Pricing, p. 105 E. Katz, On Destabilizing Profitable Speculation, p. 114 M. Tronzano, Exchange-Rate Dynamics in a Stock-Flow Model: The Lira/Dollar Case (1972-1980), p. 118 S. Tarditi, A More Effective Role of Public Finance in Agricultural Policy, p. 128 M. Di Matteo, Capital Theory and Investment Theory: Some Reflections on a Book by C.J. Bliss, p. 138 Reviews of Book, p. 146 Bibliographical Notes, p. 155 Statistical Section, p. 159

G.M.R. Marbach, Conditions and Problems of the Scientific Study of the Future, p. 3 D. Fausto, The Market for Government Securities in Italy, 1961-1971, p. 14 D. PiccoLo, G. Tunnicliffe Wilson, Time Series Models of Wholesale Retail Price Relationships in Italy, p. 35 NOTES AND COMMENTS AL. Ostrosky, Reflation: Recession and Inflation in the United States. A Comment, p. 57 R.J. Cebula, L.K. Smith, An Empirical Note on the Determinants of Welfare Levels in the United States, 1961 and 1971, p. 59 L. Costabile, Keynesian Unemployment in Patinkin and in the “Rationing Models”, p. 64 D. Schilirò, An Econometric Study of Lags in the Cost – Price Relation: The Textiles Case in the U.K., p. 81 G. Cifarelli, Some Econometric Implications of the Natural Rate of Unemployment with Rational Expectations Model, p. 92 N. Galloni, Towards a Post – Keynesian Equilibrium, p. 116 Reviews of Book, p. 120 Bibliographical Notes, p. 123 Statistical Section, p. 127

M. Sarcinelli, Policy-Making and Macro – Economic Models: a Symbiosis?, p. 3 G. Magnifico, Oil Deficits,Inflation and Exchange Rates, p. 13 G. Bird, On Using International Monetary Reform for the Benefit of Developing Countries, p. 29 M.L. Ruxz, Trade Flows Under Oligopolistic Conditione: a Supply Oriented Approach, p. 46 NOTES AND COMMENTS S. Biffignandi, S. Stefani, Stochastic Analysis on Share Prices in Italy, p. 67 A. Aquilanti, Defining Poverty. A Survey of American and English Economic Literature of the Sixties and Seventies, p. 83 G. Barbiroli, V. Ballini, G. Savio, The Effect of Technological Development on Renewable Raw Materials. A Look at the International Situation, p. 104 U.G. Florio, Optimization of Economic Targets in an Open Economy, p. 122 Reviews of Book, p. 132 Bibliographical Notes, p. 135 Statistical Section, p. 138