It is often the case that the key stumbling block for policy formation is limited knowledge of the way the macroeconomy works. Along with the introduction of a common currency, the interest and need for business cycle analysis at the Euro area level has increased. For this reason, at the...

This paper compares the role of macroeconomic and sector-specific factors in price movements for China and India, taking into account the features unique to developing economies. We find that fluctuations in the aggregated prices in China are more persistent than the underlying disaggregated...

This paper presents a generalised framework to understand mixed-strategy sales behaviour with informative advertising. By introducing competition in the utility space into a clearinghouse sales model, we oer a highly tractable framework that can i) provide a novel welfare analysis of...

Globalisation is associated with long periods of sustained economic growth and credit expansion, whereas major recessions tend to lead to falling trade and protectionism. I investigate this, using a model where an important component of trade is search by rms trying out new trade part- ners. To...

We investigate the theoretical relationship between wage concentration and international market integration. Access to imported varieties lowers the cost of intermediate inputs (“machines”) used to carry out production tasks, causing workers with different comparative abilities to be sorted...

This paper analyses the behaviour, influence and role of third parties in tradable permits markets. Following the literature, it focuses on a framework in order to understand how society and third parties react against the firms’ emissions due to their participation in the tradable permits...

Potentially one of the most important determinants of regional economic growth and convergence is human capital, although due to a lack of data this factor is frequently omitted from econometric studies. In contrast, this paper constructs three measures of human capital at the NUTS III regional...

We examine the geo-political and international spatial aspects of human rights (HR), using a purpose designed data-set. Applying tools from the spatial economics literature, we analyse the impact on a country’s HR performance of geographical proximity to its neighbours. Unlike previous...

Human capital is believed to be an important conditioning factor in explaining the convergence and the speed of convergence of regional economies, although it is usually excluded from the estimated models due to a lack of consistent data. In contrast this paper, using a newly constructed series...

This paper uses a relatively new quantitative model for estimating UK banks' liquidity risk. The model is called the Exposure-Based Cash-Flow-at-Risk (CFaR) model, which not only measures a bank's liquidity risk tolerance, but also helps to improve liquidity risk management through the provision...