The Euler equation model is used to determine the fraction of consumers who are liquidity constrained in ten Asian developing countries. Our estimates of the fraction of liquidity constrained consumers range between 0.5 and 0.9. We further investigate whether financial liberalization has...

The mean variance efficiency (MVE) of a portfolio of international bonds and equities is tested using a CAPM model of excess returns. The conditional variances and covariances of the portfolio returns are allowed to time-vary according to shocks in up to three global macro-economic variables...

This article shows that little of the gender earnings gap in the public and private sectors in Britain are explained by differences in employee characteristics. The differences in workplace characteristics, however, make a significant, sizeable contribution. It is shown that performance related...

Traces the origins of the poll tax, describes how it was intended to operate, documents the implementation difficulties, and analyzes the reasons for its failure. Concludes that the notion of accountability underlying the poll tax is flawed, and that mistakes were made in implementation.

We test the relationship between alliance scope and firm performance in the context of the biotechnology industry by means of a meta-analysis. Meta-analysis is a statistical technique that allows a systematic review of the existing research that is more rigorously systematic compared to...