South African monetary policy in the last 30 years has experienced major regime shifts. This paper finds that Taylor rules, augmented for foreign interest rate influences, and based either on forecast, or actual, inflation and output gap measures, poorly describe the behaviour of the discount...

This paper models regional earnings and unemployment in the ten regions of Great Britain between 1972 and 1995, paying particular attention to their interaction and to the important influence of the housing market. In contrast to Blanchard and Katz (1992, 1997) for the United States, we find...