This paper focuses on the determinants of aggregate investment spending in the UK for the industrial and commercial companies (ICC) sector. It complements recent work by Cuthbertson and Gasparro, who study an augmented Tobin's q model of investment in the manufacturing sector. Important focal...

This paper examines the impact of housing equity and occupational pension scheme membership on job tenure. Using job duration data from the 1985 General Household Survey, appropriate hazard functions are constructed and estimated. Housing equity data is constructed from the General Household...

The recent failure to predict the strong growth in consumer spending and decline in the savings ratio in the United Kingdom has prompted a number of economic forecasters to reassess the basis of their consumer expenditure relationships. This paper assesses the failure of the traditional...

This paper focuses on the determinants of aggregate investment spending in the UK, for the industrial and commercial company (ICC) sector. Important focal points of our analysis are the role for real profits and the impact of irreversibility and uncertainty in determining aggregate investment...

This paper provides estimates of the effect of activity in the housing market on aggregate consumer spending and indirectly on personal saving behaviour. During the last three years consumer spending has grown very rapidly, and the dramatic fall in the savings rate has been given widespread...

Recent work on the econometric specification of the consumption function by London Business School (LBS) forecasters has argued that the inclusion of a variable capturing movements in demographic structure is essential to the explanation of the recent sharp drop in the UK personal savings ratio....