In a labour market characterised by linear turnover costs in employment, the hold-up issue may arise and firms may invest inefficiently. This paper introduces hiring and firing costs in a dynamic general equilibrium, and analyses the effects of two different contractual arrangements, employment...

Currently governments worldwide are embarking on some of the largest fiscal expenditure programmes witnessed in peacetime history. The fiscal expenditure is considered necessary to support the economy and prevent a serious recession. Fiscal expenditure will be used to purchase equity in banks...

This paper examines several problems involved in modelling the structure of consumer behaviour. A new model of consumer demand is presented which encompasses the indirect translog, the CES and the LES as special cases, enabling nested comparisons to be made. Within this framework we show that...

This article reviews models for the treatment of coronary heart disease (CHD). Whereas most of the models described were developed to assess the cost effectiveness of different treatment strategies, other models have also been used to extrapolate clinical trials, for capacity and resource...

Presents a framework and methodology of accounting for the sustainable corporation which has the familiar accounting objectives of assessing and reporting corporate performance but that is where the similarities end. Instead of conceiving of the corporation in economic terms, this account is...

Introduction: the impact of IT on basic accounting concepts and accounting education - an overview, Bernard Williams. Part 1 Economics: the impact of IT on "the economy", Peter Monk; information economics, Martin Walker; economic theories of information - a critique, Shaun Hargreaves Heap. Part...

This short paper offers a critical appraisal of a recent contribution to the debate on efficiency in the particular context of horserace betting markets. A number of specific criticisms are detailed. These include the failure of the authors to capture inefficiency signals which relate to...

In the field of economics, a distinct ‘new’ subdiscipline called "Business Economics" is steadily evolving where the aim of its contributors is to produce useful insights into the nature of the firm and its competitive environment, which in turn inform the practice of Strategic Management....

We develop tests for seasonal unit roots for daily data by extending the methodology of Hylleberg et al. ('Seasonal Integration and Cointegration', Journal of Econometrics, Vol. 44 (1990), No. 1–2, pp. 215–238) and apply our tests to UK and US daily stock market indices. We also investigate...

The core of this proposal is to study the relationship between accounting, governance structures and accountability in local government. Prior research in private and public sector organisations suggests the interrelationship is complex. This complexity has been increased over the past few years...