Macroeconomic risk assessments play an important role in the forecasts of many institutions. However, to the best of our knowledge their performance has not been investigated yet. In this work, we study the Bank of England?s risk forecasts for inflation. We find that these forecasts do not...

Valuing a change in the risk of death is a key input into the calculation of the benefits of environmental policies that save lives. Typically such risks are monetized using the Value of a Statistical Life (VSL). Because the majority of the lives saved by environmental policies are those of...

This paper tries to calculate quality of life (QOL) from subjective health evaluations in Japan following Cutler and Richardson (1997) and Groot (2000). It then extends the model in several ways. Firstly, while previous studies define the domain of QOL in an ad hoc manner, i.e. excluding...

The paper assesses the communication strategies of the Federal Reserve, the Bank of England and the European Central Bank and their effectiveness. We find that the effectiveness of communication is not independent from the decisionmaking process in the committee. The paper shows that the Federal...

Since every Safety Management System (SMS) is intended to provide a framework by which an organisation manages risk, it is inevitable that accident investigators will take a close interest. The good investigator will always want to understand how the SMS was intended to control risk and how this...

Schulinspektionen haben im Bildungssystem die Aufgabe, die Qualität von Schule zu überprüfen und Impulse für Schulentwicklung anzustoßen. Es gibt jedoch keinen Konsens darüber, was man unter Qualität versteht. Im Rahmen des Beitrags wird untersucht, inwiefern Schulinspektionen in ihren...

The paper seeks to contribute to the expanding literature on ecosystem service assessment by considering its integration with economic analyses of such services. Focussing upon analyses for future orientated policy and decision making, we initially consider a single period during which...

The paper considers methodological issues pertinent to the economic assessment of ecosystem services. It is primarily written for a natural science audience however it also proposes a methodology which is intended to be of interest to economists charged with undertaking valuation work for...

Many recent writings in health policy have proposed that health be valued directly and in monetary terms using the new well-being valuation method. Yet there is currently no clear consensus on what the best measure of individual's experience may be for the evaluation process. To shed light on...