Domestic action on climate change requires a combination of solutions, in terms of institutions and policy instruments. One way of achieving government carbon policy goals may be the creation of an independent body to advise on, or set, monitor policy. This paper critically assesses the...

The private market benefits of education, i.e. the wage premia of graduates, are widely studied at the micro level, although the magnitude of their macroeconomic impact is disputed. However, there are additional benefits of education, which are less well understood but could potentially drive...

We present a stylized intertemporal forward-looking model able that accommodates key regional economic features, an area where the literature is not well developed. The main difference, from the standard applications, is the role of saving and its implication for the balance of payments. Though...

type="main" <title type="main">ABSTRACT</title> <p>This paper explores the impact on aggregate economic activity in a small, open region of an income tax funded expansion in public consumption that has no direct supply-side effects. The conventional balanced budget multiplier produces an unambiguously positive macroeconomic...</p>

This study attempts to provide a systematic theoretical analysis of the portfolio selection approach to the determination of inter‐regional and international capital flows, and to identify the implications of this analysis for the appropriate specification of short‐run econometric models of...

Professor Shackle has long maintained both the originality of the liquidity preference theory of interest rates and its paramount importance for macroeconomics. He has argued, for example, that:

Considers the treatment of openness and imperfect competition in the influential analysis of Layard, Nickell and Jackman′s (LNJ′s) Unemployment: Macroeconomic Performance and the Labour Market . Clarifies and completes LNJ′s treatment of openness through the provision of explicit...