We collect data on operations, targets and human resources management practices in over 1,800 schools educating 15-year-olds in eight countries. Overall, we show that higher management quality is strongly associated with better educational outcomes. The UK, Sweden, Canada and the US obtain the...

A contingent claims valuation model which allows to highlight the implications of program trading in spot markets for the pricing of European-style foreign currency options and for the volatility strike structure implicit in these contracts is devoloped. The curvature of the volatility strike...

This article uses the Luxembourg Income Study datasets from circa 2004 to analyse the contribution child maintenance makes to the reduction of child poverty. The countries compared are Canada, UK, USA, Germany, Norway, Denmark, Sweden and Finland representing countries with different child...

We identify pertinent institutions governing the structure of payoffs with regard to female career progression. Drawing on recent insights in behavioral economics, we hypothesize that interactions between psychological mechanisms and the institutional setup may be important determinants of...

In 2009, the Australian, Brazilian and UK parliaments faced strong criticism - to say the least - over the issue of parliamentarians' expenses. The uncovering of widespread misuses of public resources by parliamentarians in each of these three countries was the subject of intense media and...

This study explores a new modelling approach that bridges the gap between multilateral country-level data and the bilateral-model based, goods-market specific purchasing power parity (PPP) hypothesis. Under this approach, PPP is embedded in latent common factors, extractable from a large set of...

This paper re-investigates the implications of monetary policy rules on changes in exchange rate, in a risk-adjusted, uncovered interest parity model with unrestricted parameters, emphasizing the importance of modeling market expectations of monetary policy. I use consensus forecasts as a proxy...