In an analysis of the relative income, or relative consumption, hypothesis, it is shown that if the ratio of agent i's consumption to agent j's consumption enters into the utility function, a tax on labor income may increase welfare for all agents. If pretax wage inequality is low, all agents...

This paper surveys the history of The Scandinavian Journal of Economics and the early contributions of Davidson, Wicksell, Cassel, Heckscher, Ohlin, Myrdal, and Lindahl. It also analyzes the population dynamics of economics journals. Finally, it addresses some issues concerning the publishing...

This paper analyzes the "chain" of transmission mechanisms of economic policy actions to financial markets, output and employment, and, finally, unemployment--in an attempt to identify "remaining puzzles" and "neglected issues" in macroeconomics. The paper emphasizes the consequences of fiscal...