We provide a historical perspective focusing on Ziemba's experiences and research on the bond-stock earnings yield differential model (BSEYD) starting from when he first used it in Japan in 1988 through to the present in 2014. The model has called many but not all crashes. Those called have high...

The Great Aid Debate pits those who are radically opposed to foreign aid against those who champion its reform to achieve greater aid effectiveness. This paper offers an analysis of this debate by introducing a heuristic distinction between aid 'radicals' and aid 'reformers'. The radical...

The ability of the next US president to rein in spending on healthcare and improve the productivity of the healthcare system is largely going to determine the country’s fiscal future. That is one of the conclusions of the latest in a series of US Election Analyses , published by the Centre for...

Following the evolution towards media-saturated societies, this article presents practice theory as an alternative framework for mediatization studies. We discuss how it can help us grasp the diversity of social and cultural changes related to the highly integrated media. This is demonstrated by...

This article explores the contradictory and contested but closely interlocking efforts of NGOs and the state in planning for land reform in South Africa. As government policy has come increasingly to favor the better-off who are potential commercial farmers, so NGO efforts have been directed,...

Can the structure of asset markets change the way monetary policy should be conducted? Following a linear-quadratic approach, the present paper addresses this question in a New Keynesian small open economy framework. Our results reveal that the configuration of asset markets significantly...

This paper shows that in a non-representative agent model in which households face short selling constraints and labor income risk, in the form of both uninsurable shocks and a common aggregate component, small differences in the correlation between aggregate labor income shocks and domestic and...

We analyze a dual currency search model in which agents are allowed to hold multiple units of both currencies. Hence, agents hold portfolios of currency. We study equilibria in which the two currencies are identical and equilibria in which the two currencies differ according to the magnitude of...

The purpose of this article, and of its earlier companion article (Part (1) Rule-making, 12 European Business Organization Law Review (2011) p. 41), is to examine the implications of the new European Securities and Markets Authority which was established in January 2011. In the wake of the...