This paper examines the impact of demographic change on the housing market. More specifically, a difference-in-differences methodology is used to explore the effect of population decline and population ageing on house prices in Scotland and England/Wales. The analysis suggests that population...

The current practice of central banks lending gold to gold producers allows the gold leasing rate to be derived from published data. Gold leasing rates, a potential measure of real world interest rates, are calculated and compared with real interest rates derived from U.K. index-linked gilts....

A theoretical model is developed of house market disequilibrium. Price and quantity adjustments occur as the consequence of inventory adjustment in the absence of a market-maker. This approach reveals a process of dynamic adjustment whereby sellers alter their reservation prices in response to...