This paper documents futures innovation on LIFFE by empirically analyzing the individual growth profiles of its futures contracts and the factors that determine contract success or failure. The paper documents considerable heterogeneity across contracts, and finds that contract success can not...

The Bund (10 year German Government Bond) futures contract is the most actively traded bond contract in Europe; it is traded in both London (LIFFE) and Frankfurt (DTB) on open outcry and electronic trading platforms respectively. In an attempt to reconcile the conflicting results of earlier...

This paper considers the ultimate causes of post-war UK business cycles. Using an extended stochastic growth model the authors construct estimates of productivity and preference shocks both of which are highly persistent, volatile and potentially capable of explaining UK business cycles. They...