In little more than twenty years, it has become widely accepted that the optimal design of monetary policy should include provision for a central bank that is independent of government influence. This is a remarkably short period of time for any idea in economics to become so widely-accepted....

The global financial crisis forcefully highlighted the importance of developing mechanisms to curb the effects of large and volatile capital inflows on growth and financial stability in developing countries. It led the IMF to reconsider its long-standing rejection of capital controls. This paper...

Most empirical investigations into economic vulnerability focus on the national level. Although some recent contributions investigate vulnerability from a sub-national perspective they contribute to the literature in an aspatial manner, as they do not explicitly account for the relative...

Kosovo declared its independence from Serbia in February 2008, but substantial proportions of its population are expressing their lack of confidence by preparing to emigrate. In this paper we present evidence from a customized post-independence survey (1367 face-to face interviews) on emigration...

The emergence, in recent years, of large financing deficits in the portfolio values of UK DB pension funds, along with changes in the way such funds are valued by actuaries, has led fund managers to increase the weighting of fixed income securities, including corporate bonds, relative to...

This paper argues that an important influence on boys’ decisions to stay on into post-compulsory education is the attainment of maths grades that differ from expected.

Reducing the unemployment rate is an aim of most governing authorities. This paper presents a socio-economic analysis of area-level employment rate changes across Auckland using Census area-level data for the time period 1996 to 2006. Exploratory spatial data analyses suggest the presence of...

This paper investigates the business cycle fluctuations of the tradeable and nontradeable sectors of the US economy. Then, it evaluates whether a “New Open Economy” model having prices sticky in the producer’s currency can reproduce the observed fluctuations qualitatively. The answer is...

TSince the mid-1990s the banking sector in the Latin American emerging markets has experienced profound changes due to financial liberalisation, a significant increase in foreign investments and greater mergers activities often occurring following financial crises. The wave of consolidation and...

The notion that the quantity of money in an economy might be endogenously determined has a long history. Even so, it has never been part of mainstream economic thinking which has remained dominated by the view that the policymaker somehow controls the stock of money and that interest rates are...