Using data for 24 OECD economies from 1961 to 1997 we investigate whether the empirical relationship between business cycle volatility and long-run growth is positive, as Blackburn (1999) suggests, or negative, the view of the UK and other governments. The existing empirical literature is...

In this paper the likely development of aggregate living standards in the United Kingdom over the course of this century are considered, and some of the risks to this outlook. It is argued that even under relatively cautious assumptions about technological progress and capital accumulation,...

Household indebtedness has risen sharply in recent years, with large increases in both secured and unsecured borrowing. In this paper, waves 5 and 10 of the British Household Panel Survey (BHPS) for 1995 and 2000 are used to examine the determinants of participation in the unsecured debt market...

This article presents the results of an investigation into the extent of loan forbearance in the SME sector and its implications for productivity and financial system resilience. Around 6% of SME borrowers were estimated to be in receipt of some form of loan forbearance in March 2013. This...