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Three Monetarist models--the Netherlands Bank Model, the Polak Model and the St. Louis Model--are critically examined in this study. A structural model has been set up for the St. Louis Model, showing some missing links and variables. The reduced-form approach should not be applied recklessly, i.e. without constructing its theoretical structural equations. Furthermore, in empirical studies, the concepts of stock and flow, and time references and time dimensions should be properly specified; failure to do so can lead to difficulties in interpretation. / The Netherlands Bank Model and the St. Louis Model have been applied to the Canadian economy from 1957 to 1974. The findings from this empirical study are, in general, favourable to the Monetarist hypothesis. The application of the Netherlands Bank Model to the Canadian economy demonstrates that the monetary impulses induce greater changes in nominal income and price level than in real income. The empirical results derived from the application of the St. Louis Model on a short-term basis support a middle ground position between Monetarists and Fiscalists: the monetary and fiscal impulses exert about the same magnitude effect (about 1.5) on economic activity in a year. On a medium-term basis, however, monetary impulses have a more lasting effect on nominal income, while the effects from the fiscal impulses disappear mainly because of the crowding-out effects.

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L.LM. (International Commercial Law) / This dissertation, properly speaking, deals only with the recognition of foreign monetary judgments. In common parlance, however, the terms ‘recognition’ and ‘enforcement’ have blended, with “enforcement” being used more commonly to refer to “recognition” than the term recognition is. Throughout this paper, the terms will be used interchangeably to refer to the classic concept of recognition; that is to say the circumstances in which a court will allow a foreign party to enforce a foreign judgment. Central to this paper is the recent South African Supreme Court of Appeal (hereinafter SCA) case of Richman v Ben-Tovim. This includes a critical discussion of the submissions made by the SCA in reaching its decision. The author is of the view that the SCA in hearing a case of this nature ought to have considered a comparative study of the private international law rules applied elsewhere.

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