This paper evaluates whether immigration can mitigate the Dutch disease effects associated with booms in natural resource sectors.  We derive predicted changes in the size of the non-tradable sector from a small general-equilibrium model a la Obstfeld-Rogoff.  Using data for Canadian...

This paper shows that the behaviour of inventories is not symmetrical and that their modelling requires more than just a linear regression. Models of inventory behaviour are described and symmetric and non-symmetric-error-correction models are formulated which divide the changes in production...

We identify anthropogenic contributions to atmospheric CO2 measured at Mauna Loa using a statistical automatic model selection algorithm (Autometrics).  We find that vegetation, temperature and other natural factors alone cannot explain the trend or the variation in CO2 growth.  Industrial...

Here we assume that the logarithmic asset price is given by a semimartingale. Jacod (2006) has derived an infeasible central limit theorem for the realised variance in such a general framework. However, here we focus on constructing a feasible limit theorem. We propose a new estimator for the...

We analyse intertemporal poverty in two important dimensions - income and nutrition - in less developed northwest China during 2000-2004.  A generalised recursive selection model is proposed which enables simultaneous estimation of the causes of intertemporal poverty within and between...

Turning Europe into a leading `global knowledge-based` economy has become something of an obsession for policy-makers in the EU. From the integrated guidelines of the Lisbon Agenda to the July 2005 announcement of a new scientific European Research Council, considerable effort has been directed...

This paper attempts to establish the trend of market development in Europe in the centuries before the industrial revolution, by applying three different measures of market integration to a compilation of monthly and annual price data. In contrast to much of the existing work, which suggests...

The paper reviews the macroeconomic data describing the British economy during the industrial revolution and shows that they contain a story of dramatically increasing inequality between 1800 and 1840: GDP per worker rose 37%, real wages stagnated, and the profit rate doubled. The share of...

The decline in the importance of tradeable goods production in providing employment has continued in the past decade; distribution, public services and business and financial services all provide more jobs than tradeable goods. Manufacturing output has stagnated under New Labour despite rapid growth...

The paper reviews the macroeconomic data describing the British economy from 1760 to 1913 and shows that it passed through a two stage evolution of inequality. In the first half of the nineteenth century, the real wage stagnated while output per worker expanded. The profit rate doubled and the...