This paper shows that the findings of Chan, Christie and Schultz (Journal of Business, 68, 1995) of no intraday variation in the average bid-ask spread is not general to all competitive markets, and in particular does not apply to the London Stock Exchange during the mandatory quote period. This...

This paper briefly explains why there may be a 'tax clientele' induced bias in the observed yield curve and attempts to estimate the size of this tax clientele bias in the term structure of UK interest rates. A method is based on the econometric technique developed by Nelson and Siegel (Journal...

This paper examines the impact of demographic change on the housing market. More specifically, a difference-in-differences methodology is used to explore the effect of population decline and population ageing on house prices in Scotland and England/Wales. The analysis suggests that population...