This study uses both parametric and nonparametric techniques to analyse scale economies and relative efficiency levels in policing in England and Wales. Both techniques suggest the presence of significant scale effects in policing and considerable divergence in relative efficiency levels across...

It is recognized that the effectiveness of monetary policy in the control of inflation depends critically on the relationship between inflation and the output gap. During booms, inflation is highly sensitive to monetary influences, but during recessions this influence is considerably muted....