Given essentially perfect capital mobility, Australian interest rates and the expected exchange rate change should satisify international arbitrage conditions. We examine an arbitrage condition for a US investor, with a view to explaining the large short-term real interest differential between...

This article introduces a new source of survey data, namely the Bank of England Survey of External Forecasters. The survey collects point and density forecasts of inflation and GDP growth and, hence, offers the opportunity of constructing direct measures of uncertainty. We present a simple...

In the context of the UK Government’s ambitious programme of medical school expansion, it is important to have an understanding of how the medical school admissions process works, and with what effects. The issue is also relevant for the Schwartz Review (2004) into higher education admissions....