The External Relationships

  • Ajit K. Dasgupta
  • A. J. Hagger


The short-run macro-dynamic model formulated at the end of the previous chapter represents an advance on the simple expository model set out in section 2.2 in that it introduces a considerably more refined consumption function. However, the revised model still retains certain of the defects of the basic model and we must now begin the task of eliminating these further defects.


Machine Tool Aggregate Demand Internal Balance External Relationship Consumption Demand 
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Reading List

  1. Adler, J. H., ‘United States Import Demand during the Inter-War Period’, American Economic Review (June 1945).Google Scholar
  2. Ball, R. J., and Marwah, K., ‘The U.S. Demand for Imports, 1948–1958’, Review of Economics and Statistics (Nov 1962).Google Scholar
  3. Chang, T. C., ‘The British Demand for Imports in the Inter-War Period’, Economic Journal (June 1946).Google Scholar
  4. Chang, T. C., ‘International Comparison of Demand for Imports’, Review of Economic Studies (1945–6).Google Scholar
  5. Godley, W. A. H., and Shepherd, J. R., ‘Forecasting Imports’, National Institute Economic Review (Aug 1965).Google Scholar
  6. Goldberger, A. S., Impact Multipliers and Dynamic Properties of the Klein-Goldberger Model ( Amsterdam: North-Holland Publishing Company, 1959 ).Google Scholar
  7. Harberger, A. C. ‘A Structural Approach to the Problem of Import Demand’, American Economic Association, Papers and Proceedings of the Sixty-Fifth Annual Meeting, American Economic Review XLIII (1953), and comments on above by Adler, J. H.Google Scholar
  8. Kemp, M. C., The Demand for Canadian Imports,1926–55 (University of Toronto Press, 1962 ).Google Scholar
  9. Krause, L. B., ‘United States Imports, 1947–1958’ Econometrica (Apr 1962)Google Scholar
  10. Scott, M. F., A Study of United Kingdom Imports (Cambridge University Press. 1963 ).Google Scholar
  11. Steuer, M. D., Ball, R. J., and Eaton, J. R., ‘The Effect of Waiting Times on Foreign Orders for Machine Tools’, Economica (Nov 1966).Google Scholar

Copyright information

© Ajit K. Dasgupta and A. J. Hagger 1971

Authors and Affiliations

  • Ajit K. Dasgupta
    • 1
  • A. J. Hagger
    • 2
  1. 1.Sir George Williams UniversityMontrealCanada
  2. 2.University of TasmaniaAustralia

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