Certificate for Twenty Shares of Capital Stock in The Tait Storage Battery Company, Limited

Certificate for 20 shares of capital stock in The Tait Storage Battery Company Limited to the estate of Hamilton K Woodruff, March 2, 1934.

Letter to Isabel from Phil [Phil Ingram Price]

Letter to Isabel from Phil [Phil Ingram Price] in which he expresses a desire to divide the estate with as little delay as possible. He has divided the books into 4 lots, but he asks if Isabel has some of the books as they are missing, March 28, 1900.

Letter to Isabel from someone whose last name is Price [the first name is illegible]

Letter to Isabel from someone whose last name is Price [the first name is illegible] in which the writer says that the row with Phil regarding the bonds is settled (1 ½ pages). This person does not anticipate any more trouble with Phil. They are sending the personal effects to Isabel as well as a cheque for $3000 as her share of the estate, and more next month, July 15, 1901.

Estimate of road price from Port Robinson to Beaverdams Road

Estimate of road price from Port Robinson to Beaverdams Road, n.d.

Letter to P.I. Price asking him to make out a cheque in favour of German and Pettit for looking after certain petitions in Willoughby and Bertie Townships and in Welland

Letter to P.I. Price asking him to make out a cheque in favour of German and Pettit for looking after certain petitions in Willoughby and Bertie Townships and in Welland. This is signed by H.H. Collier, March 5, 1906.

Letter to Mr. Price from E.J. McIntryre regarding a cheque for the assessment on a railway

Letter to Mr. Price from E.J. McIntryre regarding a cheque for the assessment on a railway, Dec. 25, 1910.

Letter to Mr. W.D. Woodruff of Lincoln Paper Mills, Merritton from P.J. Price of the United Gas Companies

Letter to Mr. W.D. Woodruff of Lincoln Paper Mills, Merritton from P.J. Price of the United Gas Companies, St. Catharines regarding a cheque received from E.J. McIntyre for $200. Included with this letter is an envelope addressed to W.D. Woodruff, Dec. 27, 1910.

Receipt from Collier and Burson, Barristers and Solicitors, St. Catharines to P. J. Price

Receipt from Collier and Burson, Barristers and Solicitors, St. Catharines to P. J. Price on account of railway legislation, Jan. 27, 1906.

Bill from Geoghegan and Co. Importers of Table Linen and Shirt and Stock Makers

Bill from Geoghegan and Co. Importers of Table Linen and Shirt and Stock Makers for clothing including cravats and hosiery, June 23, 1847 attached to receipt for Receipt from Family Linen Drapery, Shirt and Stock Warehouse, London England for payment on account, July 7, 1847.

Probate (vellum) of Last Will and Testament of Hervey William Price of Welland who died Jan. 27, 1875

Probate (vellum) of Last Will and Testament of Hervey William Price of Welland who died Jan. 27, 1875. It is proven that the administration of the estate was granted to Joseph Augustus Woodruff, Aug. 19, 1880.

Habit Formation and the Persistence of Monetary Shocks

This paper studies the persistent effects of monetary shocks on output. Previous empirical literature documents this persistence, but standard general equilibrium models with sticky prices fail to generate output responses beyond the duration of nominal contracts. This paper constructs and estimates a general equilibrium model with price rigidities, habit formation, and costly capital adjustment. The model is estimated via Maximum Likelihood using US data on output, the real money stock, and the nominal interest rate. Econometric results suggest that habit formation and adjustment costs to capital play an important role in explaining the output effects of monetary policy. In particular, impulse response analysis indicates that the model generates persistent, hump-shaped output responses to monetary shocks.

The Wage Rate and the Profit Rate in the Price of Production Equation: a New Solution to an Old Problem

The aim of this paper is to demonstrate that, even if Marx's solution to the transformation problem can be modified, his basic concusions remain valid.

Explaining the Persistence of Commodity Prices

This paper extends the Competitive Storage Model by incorporating prominent features of the production process and financial markets. A major limitation of this basic model is that it cannot successfully explain the degree of serial correlation observed in actual data. The proposed extensions build on the observation that in order to generate a high degree of price persistence, a model must incorporate features such that agents are willing to hold stocks more often than predicted by the basic model. We therefore allow unique characteristics of the production and trading mechanisms to provide the required incentives. Specifically, the proposed models introduce (i) gestation lags in production with heteroskedastic supply shocks, (ii) multiperiod forward contracts, and (iii) a convenience return to inventory holding. The rational expectations solutions for twelve commodities are numerically solved. Simulations are then employed to assess the effects of the above extensions on the time series properties of commodity prices. Results indicate that each of the features above partially account for the persistence and occasional spikes observed in actual data. Evidence is presented that the precautionary demand for stocks might play a substantial role in the dynamics of commodity prices.

Credibility and Signaling in Disinflation- a Cross Country Examination

This paper develops a model of money demand where the opportunity cost of holding money is subject to regime changes. The regimes are fully characterized by the mean and variance of inflation and are assumed to be the result of alternative government policies. Agents are unable to directly observe whether government actions are indeed consistent with the inflation rate targeted as part of a stabilization program but can construct probability inferences on the basis of available observations of inflation and money growth. Government announcements are assumed to provide agents with additional, possibly truthful information regarding the regime. This specification is estimated and tested using data from the Israeli and Argentine high inflation periods. Results indicate the successful stabilization program implemented in Israel in July 1985 was more credible than either the earlier Israeli attempt in November 1984 or the Argentine programs. Government’s signaling might substantially simplify the inference problem and increase the speed of learning on the part of the agents. However, under certain conditions, it might increase the volatility of inflation. After the introduction of an inflation stabilization plan, the welfare gains from a temporary increase in real balances might be high enough to induce agents to raise their real balances in the short-term, even if they are uncertain about the nature of government policy and the eventual outcome of the stabilization attempt. Statistically, the model restrictions cannot be rejected at the 1% significance level.