A model of labour productivity that distinguishes between permanent and transient shocks on productivity is proposed. We show that this model is a type of unobserved components model -- a random walk with drift plus noise model. The advantage of this approach is that it provides a coherent...

The purpose of this paper is to use a large data set comprising individual’s responses to survey questions about future economic conditions, unemployment and prices to explore lay people’s models of the economy and specifically their understanding of the relationship between unemployment and...

Purpose – Most research on share repurchases is based on the USA. Recently, the rate of share repurchases by UK companies has increased significantly; such a marked increase in activity would suggest a change in strategic factors generating this activity. This paper aims to focus on UK...

Abstract: Purpose – Investors and financial statement users may have differing beliefs about the responsibility of an independent accounting firm performing an audit of a client's financial statements. This study aims to investigate the existence of an audit expectation gap between auditors...

The business community faces many pressures from the green consumer, environmental groups, employees and investors to accept its environmental accountabilities and to provide information about its environmental performance. This information is becoming increasingly important to a broad range of...

Generations of students and the reading public have been taught: (a) that it was Thomas Carlyle who called economics (political economy as it was known) "the dismal science" and (b) that he did so as a reaction to the pessimistic predictions of Malthus in relation to population growth and its...