A rational expectations model estimated for the UK is used to simulate macroeconomic policy under fixed and floating exchange rates. Under fixed rates inflation and interest rates are effectively set internationally; monetary policy only affects the reserves even in the short run and cyclical...

I have given this review article its provocative title, not because the book with which it is associated is bad or should be buried. On the contrary, the book, as one would expect from the authors, is an extremely intelligent and well‐argued application of available techniques to the problem...

This article considers the impact of minimum wage legislation on wages, employment and gross domestic product. Using the Liverpool quarterly model of the UK to calculate the total effects in the economy, the authors suggest that unemployment would increase along with the real wages of low paid...