This paper investigates the simulation of common policy reforms across different countries. Changes to the equivalence scales of social assistance systems in favour of pensions and children in Germany, Ireland and the UK were modelled. Unlike a number of previous studies of this kind such as...

This paper provides new perspective on the poor performance of exchange rate models by focusing on the information structure of FX trading. I present a new theoretical model of FX trading that emphasizes the role of incomplete and heterogeneous information. The model shows how an equilibrium...

This paper develops and estimates a general equilibrium model for the term structures of nominal and real interest rates that incorporates regime-switching into the dynamics ofthe state variables. The model generates time-varying risk premia via changes in the covariance structure of the state...

In 2005, the Ministry of Social Development (MSD) commissioned research to review international evaluation methodology and literature to help in the preparation of evaluation of the Working for Families (WFF) policy, introduced in 2004 to assist working low- and middle-income families in New...

This study aims to outline the vision for the Vietnamese social protection system. It provides discussion of the issues of implementation and performance of the current programme design, especially the issues of budget allocation, implementation and monitoring are explored using qualitative...

This paper studies how changing expectations concerning future trade and financial con- ditions are reflected in international external positions. In the absence of Ponzi schemes and arbitrage opportunities, the net foreign asset position of any country must, as a matter of theory, equal the...

This paper describes a new analytical framework for the quantitative assessment of international external positions. The framework links each country’s current net foreign asset position to its current trade flows, forecasts of future trade flows, and expectations concerning future returns on...

Since 2013 regulators have been investigating the activities of some of the world’s largest banks around the setting of daily benchmarks for forex prices. These benchmarks are a key linchpin of world financial markets, providing standardize prices used to value global equity and bond...

This CASEbrief summarises the responses to 'The pensions Green Paper - A new contract for welfare: partnership in pensions' made by members of CASE in CASEpaper 23, 'Tightropes and tripwires: New Labour's proposals and means-testing in old age' by Katherine Rake, Jane Falkingham and Martin...