A nonparametric frontier approach is utilized to calculate the efficiency of U.K. building societies. This paper extends previous work in the area in two main ways. First, the analysis focuses upon allocative and technical efficiency rather than simply decomposing the latter into its constituent...

This study uses both parametric and nonparametric techniques to analyse scale economies and relative efficiency levels in policing in England and Wales. Both techniques suggest the presence of significant scale effects in policing and considerable divergence in relative efficiency levels across...

In 1992 the EU monetary authorities adopted a 'harmonized' broad money aggregate. The EMI was subsequently established to promote monetary policy coordination. This paper considers how broad money aggregates might be used to guide EU monetary policy and whether a 'Euro-Divisia' monetary index...

Despite substantial structural change and a significant intensification of competition in the UK financial services sector in recent years, the UK banking sector remains relatively under researched. This paper uses a panel data sample covering the main UK banks over the period 1984 to 1995 to...