This paper contains the text of a series of public lectures given by Professor Williamson at the LSE on February 24 and 25 1992. Professor Williamson is the first holder of the British Petroleum Professorship, awarded annually to a visiting academic of the highest standing. The lecture covers...

Discussions about international capital movements raise extremely important and controversial questions. Why should countries open up their capital accounts, especially considering that unrestricted international capital movement is a relatively new phenomenon?For example, many OECD countries...

Discussions about international capital movements raise extremely important and controversial questions. Why should countries open up their capital accounts, especially considering that unrestricted international capital movement is a relatively new phenomenon?For example, many OECD countries...

The large-scale roll-out of so-called 'smart' electricity meters that record electricity consumption at frequent intervals gives electricity retailers the opportunity to vary price over the course of a day potentially better matching price to production cost. Of interest to both retailers and...

It is argued in this paper that, since economic welfare is influenced by the payments objectives pursued by countries, economists should explore the objectives that are indicated as being appropriate by welfare economics, rather than accepting objectives that have been arbitrarily specified and...