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Long-run PPP under the presence of near-to-unit roots: The case of the British Pound-US dollar rate
Empirical tests typically provide evidence that the British pound-US dollar exchange rate and the relative wholesale price index contain exact unit roots and exhibit cointegration. However, the cointegrating vector is ...
Employment Outcomes in the Welfare State
We examine the implications of tax and subsidy policies for employment in the "three worlds of welfare", Anglo-Saxon, Continental European and Scandinavian. We argue that home production is key to a proper evaluation of ...
Tenure, wage profiles and monitoring
We undertake the first empirical investigation of the relationship between the slope of the wagetenure profile and the level of monitoring. On the assumption that firms strive for the optimal trade-off between these various ...
The impact of TFP growth on steady-state unemployement
(Centre for Economic Policy Research, 2005)