Prior to the global financial crisis of 2008, the UK had the largest banking sector asset to GDP ratio among large countries, and had experienced rapid real property price increases as well as a persistent current account deficit in the preceding decade. These factors, together with its role as...

Financial capability is receiving increasing interest among policy makers, who wish to reduce problem debt and welfare dependency and increase savings and general skills. We examine whether financial capability has impacts on psychological health independent of income and financial resources...

Two main views of exchange rate determination have evolved since the early 1970s: the monetary approach to the exchange rate (in flexible-price, sticky-price, and real interest differential formulations); and the portfolio balance approach. The literature on these views is surveyed, followed by...

Recent techniques designed to draw inferences about the credibility of changes in macroeconomic policy regimes are examined. An alternative two-step approach, based on the decomposition between permanent and transitory components of a "credibility variable," is proposed. The methodology is then...

We reexamine the monetary approach to the exchange rate from several perspectives, using monthly data on the deutsche mark-U.S. dollar exchange rate. Using the Campbell-Shiller technique, we reject the restrictions imposed on the data by the forward-looking rational expectations monetary model....

This paper uses nonparametric procedures to test for a shift in the volatility of nominal and real exchange rates for members and nonmembers of the ERM. The results imply a reduction in volatility for ERM members, especially during the latter half of its operation. We also demonstrate that this...

[fre] Ajustement non linéaire vers le taux de change d'équilibre à long terme. Le modèle monétaire revisité. . Nous réexaminons la famille des modèles monétaires à travers l'examen d'un ajustement non linéaire vers un modèle monétaire d'équilibre à long terme. En uti­lisant des...

We use individual data for Great Britain over the period 1992-2009 to compare the probability that employed and unemployed job seekers find a job, and the quality of the job they find. The job finding rate of unemployed job seekers is 50 percent higher than that of employed job seekers, and this...

This paper analyses and describes the distribution of earnings at the time of the Wave 1 interview of the British Household Panel Study (BHPS), and provides a breakdown of gross weekly and gross hourly earnings by individual, job and regional labour market characteristics.

This analysis provides information on the employment and household circumstances of homeworkers in Britain in 1991. The extent of homeworking in Britain is reported with those working at home being distinguished from those working from home. For the purposes of this report it is the former group...