Richmond Fed's Economic Quarterly, Fall 2004

The Federal Reserve Bank of Richmond has published its Economic Quarterly for Fall 2004. The paper "Ricardo versus Wicksell on job losses and technological change" looks at Knut Wicksell's revisions of Ricardo's classical model with modern concepts and assumptions to show that the opposite of Ricardo's original conclusions is true: Technological progress boosts gross product while preserving jobs.

Click here to read the Fall 2004 issue of the Economic Quarterly on the Richmond Fed's website

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