Now showing items 1-9 of 9
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 ...
The behaviour of stock returns and interest rates over the business cycle in the US and UK
The paper studies the dynamic behaviour of the conditional mean and volatility of weekly financial variables in relation to the business cycle for the USA and UK economies. The mean US S&P stock returns steadily increases ...
R&D depreciation, stocks, user costs and productivity growth for US R&D intensive industries
This paper estimates R&D depreciation rates for U.S. R&D intensive industries. R&D annually depreciates at
Financial variables and real activity in Canada
In this paper we utilize Canadian and U.S. data to investigate the relationship between financial market variables (Canadian and U.S.) and Canadian output growth, using a non-parametric technique. The financial variables ...
National Sentiment and Consumer Choice: The Iraq War and Sales of US Products in Arab Countries
Did the rise in anti-American sentiment caused by the Iraq war affect sales of US goods abroad? We address this question using data on soft drinks and fabric detergents sales in nine Arab countries. We find a statistically ...
Performance pay and ethnic earnings differences in Britain
In the first British study, we show that the ethnic earnings gap amongst performance pay jobs is smaller than that amongst time rate jobs. This partially reflects sorting but persists with diminished magnitude in fixed ...
Unemployment in the Great Recession
This paper studies the responses of unemployment in Germany, the USA and the UK to the Great Recession of 2008-9 using Beveridge curve analysis, and in the entire OECD using other techniques. It is shown that the UK suffered ...
Unemployment responses to 'skill-biased' technology shocks: The role of labour market policy
Do skill-biased shocks that increase the spread of labour productivities, interacting with different policy regimes, explain the rise in unemployment in Europe relative to the United States in the 1980s and 1990s? The ...
R&D, innovation, and technological progress: A test of the Schumpeterian framework without scale effects
I use U.S. manufacturing industry data to estimate a system of three equations implied by a model of R&D-induced growth in steady state. These equations relate R&D intensity to patenting, patenting to technological progress, ...