The use of formulae has become widespread in recent years across most developed countries. In the UK, a conservative estimate is that annually £150 billion of public service expenditure is distributed using formulae, in services such as health care, local government, social security and higher...

Empirical studies of wage-determination, within the general framework of the Phillips curve and its variants, demonstrate remarkable consistency with respect to two particular specifications. They usually involve explanatory variables in the form of simple fourth-order moving averages and a...