The role of financial factors as constraints to innovation in the UK is explored using data on individual returns to the second and third Community Innovation Surveys. It is found that financial factors do impact upon innovative activity and that impact is more severe in higher tech sectors and...

This paper considers computer intensive methods for inference on cointegrating vectors in maximum likelihood analysis. It investigates the robustness of LR , Wald tests and an F-type test for linear restrictions on cointegrating space to misspecification on the number of cointegrating relations....

In this article, we employ a time-varying GARCH-type specification to model inflation and investigate the behaviour of its persistence. Specifically, by modelling the inflation series as AR(1)-APGARCH(1,1)-in-mean-level process with breaks, we show that persistence is transmitted from the...