This paper investigates why the U.K. has experienced steadily higher unemployment at cyclical peaks since 1965 using a structural model of the U.K. labor market. The mo del emphasizes the differences in experience and structure of the man ufacturing and nonmanufacturing private sectors using a...

In a number of countries where health care is publicly funded, policies to introduce greater patient choice are being implemented. In most cases patient choice is seen as an instrument to reduce waiting times for elective (non-emergency) hospital services. An important issue is whether...

This paper is concerned with two related features of the labor market-the ratio of long-term to total unemployment, R, and the relat ionship between unemployment and vacancies (the "U-V curve"). A model is developed to explain R in terms of the average probability that an unemployed person will...

An error-correction model is used to estimate the fraction of consumers who are liquidity-constrained in 10 Asian developing countries. Our estimates of the fraction of consumers who are liquidity-constrained range between 0.25 and 0.98. We further investigate whether financial liberalization...

Although there are no traditional markets and money prices in the public sector, consumers and providers may respond to signals of organisational performance. We present a simple dynamic model of the demand and supply for elective surgery in the UK National Health Service in which waiting time...

As a result of the system of central government grants-in-aid, local authorities in England have until recently faced piecewise linear budget constraints. A two-error estimation technique is used to analyze local authority expenditure decisions given these nonlinear budget constraints, and...