Little is known about the possible impact of an influenza pandemic on a nation's economy.  We applied the UK macroeconomic model 'COMPACT' to epidemiological data on previous UK influenza pandemics, and extrapolated a sensitivity analysis to cover more extreme disease scenarios.  Analysis...

Microfounded macromodels (SDGE models) represent the dominant approach in academic macroeconomics, and their influence now extends to the forecasting models of central banks.  These models appear to adopt a clear methodological approach, which promotes internal consistency above external...

A Layard/Nickell imperfect competition model is used to derive the long-run Phillips Curve (LRPC).

There is a growing policy interest in the role of financial structure in promoting development.  However, very little is known about how different financial structures emerge and evolve.  In this paper we empirically assess the political origins of financial structure.  Using...

Following the wave of democratization during the 1990s, elections are now common in low-income societies.  However, these elections are frequently flawed.  We investigate the Nigerian general election of 2007, which is to date the largest election held in Africa and one seriously marred by...

The paper examines the notion of a 'developmental state' and shows that China possesses the characteristics of a developmental state.  It explains the political economy which generated such a state in China and in some other economies.  It analyses the methods and mechanisms that were...

To what extent does the policy of Tony Blair`s government reflect the traditional aspirations of social democracy? In macroeconomic policy the emphasis has been on stability, an understandable response to recent UK economic history, but one which has left sterling dangerously overvalued for an...

This paper explores an oil discovery natural experiment to assess the role of natural resources in determining corruption. We argue that an anticipated oil boom may increase corruption by boosting the value attributed by an elite to being in power when the actual oil exploration begins. We test...

Can we devise mechanisms that allow voters to express the intensity of their preferences when monetary transfers are forbidden? Would we then be able to take account of how much voters wish the approval or dismissal of any particular issue? In such cases, would some minorities be able to decide...