Mark P Taylor
Dados Biográficos
| ID | 3594196 |
|---|---|
| NOME | Mark P Taylor |
| PRENOMES | Mark P |
| SOBRENOME | Taylor |
| ASSINATURA | TAYLOR M P |
| AFILIAÇÕES | University of Essex |
| ORCID | 0000-0002-4158-0983 |
| VERIFICADO | Sim |
| TOTAL DE OBRAS | 53 |
| TOTAL DE CITAÇÕES | 270 |
| TOTAL COMO AUTOR | 53 |
| TOTAL COMO EDITOR | 0 |
| PRIMEIRO ANO DE PUBLICAÇÃO | 1933 |
| ANO MAIS RECENTE DE PUBLICAÇÃO | 2025 |
| ÍNDICE H | 10 |
Divergences and convergences across European musical preferences
When investigating relational structures in culture, research in Europe has often either mapped the relationship between cultural tastes in a particular context, or mapped differences in cultural tastes (measured consistently) in different countries, without assessing how these differences can vary across them. Indeed, the idea of national homology (namely that the structures of cultural capital would be fairly similar in nations across Europe) h…
Literature in the Bush
This essay considers the relationship between settler colonialism and style in the work of Samuel Butler. Butler became an important influence on Anglophone modernism primarily through his semi-autobiographical novel The Way of All Flesh (1903). I argue that this text's innovations were rooted in Butler's time as a sheep farmer in New Zealand from 1859-64. Placing Butler in a theoretical tradition that insists on style's essential tie to authoria…
Grundzüge der Volkswirtschaftslehre
Grundzüge der Volkswirtschaftslehre
Hilft die Mietpreisbremse, erschwingliche Wohnungen zu finden? Welche Auswirkungen hat der Corona-Lockdown auf die Wirtschaft? Was bedeutet der Brexit für Großbritannien und die Europäische Union? Warum sinkt das Produktivitätswachstum
Olaf Stapledon and Telepathy in Literature of Cosmic Exploration
The literature of cosmic exploration has long had a close relationship with telepathy: in such fiction, apparent new discoveries in the human mind often accompany new discoveries in the cosmos. This article suggests that Olaf Stapledon is a key progenitor of this association. His Last and First Men , Last Men in London , and Star Maker each cover billions of years of human development, and each spans vast expanses of space. In these novels, telep…
Educational Aspirations and Attitudes over the Business Cycle
UK policy debate has recently focused on the role of young people's aspirations and attitudes in raising educational attainment. We use the youth component of the British Household Panel Survey to examine how educational attitudes and aspirations among 11‐ to 15‐year‐olds vary with the local unemployment rate. We find that children who have highly educated parents with positive educational attitudes react more positively to low labour demand than…
Occupational Change and Mobility Among Employed and Unemployed Job Seekers
We use data from the Labour Force Survey to show that employed and unemployed job seekers in Great Britain originate from different occupations and find jobs in different occupations. We find substantial differences in occupational mobility between job seekers: employed job seekers are most likely to move to occupations paying higher average wages relative to their previous occupation, while unemployed job seekers are most likely to move to lower…
Large Datasets, Factor‐augmented and Factor‐only Vector Autoregressive Models, and the Economic Consequences of Mrs Thatcher
We investigate methods of capturing the salient characteristics of very large datasets in an investigation of UK and US macroeconomic policy, using factor‐augmented VAR (FAVAR) models. We also estimate structural factor‐only VAR (FOVAR) models and examine the impact of aggregate demand and aggregate supply. In a further empirical application, we find that while there is some evidence of increased macroeconomic flexibility in the USA as well as th…
Financial capability and psychological health
Measuring Financial Capability and its Determinants Using Survey Data
Residential Mobility, Quality of Neighbourhood and Life Course Events
Neighbourhood characteristics affect the social and economic opportunities of their residents. Although various studies have analysed housing adjustments at different life stages, little is known about neighbourhood quality adjustments, or movements into ‘better’ or ‘worse’ neighbourhoods. On the basis of a model of optimal housing consumption we analyse the determinants of residential mobility and the associated neighbourhood quality adjustments…
The Dynamics of Unhealthy Housing in the UK
There is an abundance of evidence supporting a cross-sectional association between poor housing and poor health, but relatively few studies have examined the relationship between housing and health over time. Using contemporary longitudinal data from seven yearly waves (1996–2002) of the British Household Panel Survey, summary statistics and multivariate first-differences regression models, this study provides robust evidence of a dynamic relatio…
Marriage and Wages
We investigate the relationship between marriage and wages among men in Britain using panel data. Our econometric specifications allow for observed and unobserved heterogeneity and explicitly test the role of intra‐household specialization in explaining the observed relationship. Our estimates provide evidence for the existence of large selection effects into marriage based on observable and unobservable characteristics that are positively correl…
Real Exchange Rates Over the Past Two Centuries
Using data since 1820 for the US, the UK and France, we test for the presence of real effects on the equilibrium real exchange rate (the Harrod-Balassa-Samuelson, HBS effect) in an explicitly nonlinear framework and allowing for shifts in real exchange rate volatility across nominal regimes. A statistically significant HBS effect for sterling-dollar captures its long-run trend and explains a proportion of variation in changes in the real rate tha…
The Prettier Doll
This book examines political rhetoric at the grassroots level. Starting from a position that Democracy depends on details, or else remains a formal abstraction, editors Karen Tracy, James P. McDaniel, and Bruce Gronbeck argue that a true understanding of the democratic body politic becomes most intelligible through a close study of its parts. An academic preference for grandiose, abstract political theory, the editors contend, undervalues and mas…
Is Official Exchange Rate Intervention Effective
I examine the effectiveness of exchange rate intervention within the context of a Markov‐switching model for the real exchange rate. The probability of switching between stable and unstable regimes depends nonlinearly upon the amount of intervention, the degree of misalignment and the duration of the regime. Applying this to dollar–mark data for the period 1985–98, I find that intervention increases the probability of stability when the rate is m…
The Purchasing Power Parity Debate
Originally propounded by the sixteenth-century scholars of the University of Salamanca, the concept of purchasing power parity (PPP) was revived in the interwar period in the context of the debate concerning the appropriate level at which to re-establish international exchange rate parities. Broadly accepted as a long-run equilibrium condition in the post-war period, it was first advocated as a short-run equilibrium by many international economis…
Nonlinear permanent – temporary decompositions in macroeconomics and finance
Journal Article Nonlinear permanent – temporary decompositions in macroeconomics and finance Get access Richard H. Clarida, Richard H. Clarida Columbia University and NBER University of Warwick and CEPR Search for other works by this author on: Oxford Academic Google Scholar Mark P. Taylor Mark P. Taylor Columbia University and NBER University of Warwick and CEPR Search for other works by this author on: Oxford Academic Google Scholar The Economi…
Tied Down Or Room To Move? Investigating The Relationships Between Housing Tenure, Employment Status And Residential Mobility In Britain
Using data from the British Household Panel Survey, we investigate the relationships between labour market dynamics, housing tenure and residential mobility. Panel data allow the study of the sequence of household moves and individual labour market status changes, enabling unique analysis of the relationship between job and residential mobility. Our findings suggest that the unemployed are more likely to move than employees. A desire to move moti…
Entrepreneurial Women and Men
Hot money, accounting labels and the permanence of capital flows to developing countries
Survival of the Fittest? An Analysis of Self‐Employment Duration in Britain
This paper uses data from the British Household Panel Survey to investigate the duration of self‐employment spells in Britain. The results suggest that 40% of self‐employment ventures started since 1991 have not survived their first year in business. Evidence is produced showing that a substantial proportion of self‐employment spells are not terminated through bankruptcy, but through moves to alternative employment. The fittest, in terms of self‐…
The Target Zone Model, Non‐Linearity and Mean Reversion
Journal Article The Target Zone Model, Non‐Linearity and Mean Reversion: is the Honeymoon Really Over? Get access Matteo Iannizzotto, Matteo Iannizzotto University College, Oxford and Bank of Italy Search for other works by this author on: Oxford Academic Google Scholar Mark P. Taylor Mark P. Taylor University College, Oxford and Centre for Economic Policy Research Search for other works by this author on: Oxford Academic Google Scholar The Econo…
The Effects of Regulation and Regulatory Risk in the UK Electricity Distribution Industry
This paper examines the impact of regulation of the UK electricity industry on expectations of investors in the shares of regional electricity companies (RECs). This is done using event‐study methodology where the movements of RECs’ returns are compared to movements in the stock market as a whole. We then test for the presence of regulatory risk by modelling the conditional volatility of equity returns before and after 30 significant regulatory e…
The Term Structure of Forward Exchange Premiums and the Forecastability of Spot Exchange Rates
We develop a framework to extract information regarding subsequent spot rate movements from the term structure of forward exchange premiums while admitting possible deviations from rationality and the presence of risk premiums. Using weekly dollar–sterling, dollar– mark, and dollar–yen data, the restrictions implied by our framework are not rejected, and spot and forward exchange rates together are well represented by a vector error correction mo…
Regional House Prices in Britain
Tied Down Or Room To Move? Investigating The Relationships Between Housing Tenure, Employment Status And Residential Mobility In Britain
Using data from the British Household Panel Survey, we investigate the relationships between labour market dynamics, housing tenure and residential mobility. Panel data allow the study of the sequence of household moves and individual labour market status changes, enabling unique analysis of the relationship between job and residential mobility. Our findings suggest that the unemployed are more likely to move than employees. A desire to move moti…
Survival of the Fittest? An Analysis of Self‐Employment Duration in Britain
This paper uses data from the British Household Panel Survey to investigate the duration of self‐employment spells in Britain. The results suggest that 40% of self‐employment ventures started since 1991 have not survived their first year in business. Evidence is produced showing that a substantial proportion of self‐employment spells are not terminated through bankruptcy, but through moves to alternative employment. The fittest, in terms of self‐…
The Dynamics of Unhealthy Housing in the UK
There is an abundance of evidence supporting a cross-sectional association between poor housing and poor health, but relatively few studies have examined the relationship between housing and health over time. Using contemporary longitudinal data from seven yearly waves (1996–2002) of the British Household Panel Survey, summary statistics and multivariate first-differences regression models, this study provides robust evidence of a dynamic relatio…
Measuring Financial Capability and its Determinants Using Survey Data
Marriage and Wages
We investigate the relationship between marriage and wages among men in Britain using panel data. Our econometric specifications allow for observed and unobserved heterogeneity and explicitly test the role of intra‐household specialization in explaining the observed relationship. Our estimates provide evidence for the existence of large selection effects into marriage based on observable and unobservable characteristics that are positively correl…
The Purchasing Power Parity Debate
Originally propounded by the sixteenth-century scholars of the University of Salamanca, the concept of purchasing power parity (PPP) was revived in the interwar period in the context of the debate concerning the appropriate level at which to re-establish international exchange rate parities. Broadly accepted as a long-run equilibrium condition in the post-war period, it was first advocated as a short-run equilibrium by many international economis…
Applied Econometric Techniques
Journal Article Applied Econometric Techniques Get access Applied Econometric Techniques. By Keith Cuthbertson, Stephen G. Hall and Mark P. Taylor. (New York and London: Philip Allan, 1991. Pp. xiii + 274. £45.00 hardback. ISBN 0 86003 084 9.) Carlo A. Favero Carlo A. Favero Queen Mary and Westfield CollegeUniversity of london Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 102, Issue 415, 1 N…
Financial capability and psychological health
Real Exchange Rate Behavior
Using annual data spanning two centuries for dollar-sterling and franc-sterling real exchange rates, the authors find strong evidence of mean-reverting real exchange rate behavior. Using simple, stationary, autoregressive models estimated on prefloat data, they easily outperform nonstationary real exchange rate models in dynamic forecasting exercises over the recent float. Such stationary univariate equations explain 60-80 percent of the in-sampl…
Sand in the Wheels of Foreign Exchange Markets
Journal Article Sand in the Wheels of Foreign Exchange Markets: A Sceptical Note Get access Peter Garber, Peter Garber Brown University Search for other works by this author on: Oxford Academic Google Scholar Mark P. Taylor Mark P. Taylor University of Liverpool and CEPR Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 105, Issue 428, 1 January 1995, Pages 173–180, https://doi.org/10.2307/22353…
The Demand for Money
Journal Article The Demand for Money: A Dynamic Rational Expectations Model Get access Keith Cuthbertson, Keith Cuthbertson University of Newcastle upon Tyne, Economics Division, Bank of England, University of Newcastle upon Tyne Search for other works by this author on: Oxford Academic Google Scholar Mark P. Taylor Mark P. Taylor University of Newcastle upon Tyne, Economics Division, Bank of England, University of Newcastle upon Tyne Search for …
Charts, Noise and Fundamentals in the London Foreign Exchange Market
Journal Article Charts, Noise and Fundamentals in the London Foreign Exchange Market Get access Helen Allen, Helen Allen Bank of England and City University Search for other works by this author on: Oxford Academic Google Scholar Mark P. Taylor Mark P. Taylor City University, Bank of England and Centre for Economic Policy Research Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 100, Issue 400,…
Occupational Change and Mobility Among Employed and Unemployed Job Seekers
We use data from the Labour Force Survey to show that employed and unemployed job seekers in Great Britain originate from different occupations and find jobs in different occupations. We find substantial differences in occupational mobility between job seekers: employed job seekers are most likely to move to occupations paying higher average wages relative to their previous occupation, while unemployed job seekers are most likely to move to lower…
Real Exchange Rates Over the Past Two Centuries
Using data since 1820 for the US, the UK and France, we test for the presence of real effects on the equilibrium real exchange rate (the Harrod-Balassa-Samuelson, HBS effect) in an explicitly nonlinear framework and allowing for shifts in real exchange rate volatility across nominal regimes. A statistically significant HBS effect for sterling-dollar captures its long-run trend and explains a proportion of variation in changes in the real rate tha…
Hot money, accounting labels and the permanence of capital flows to developing countries
Covered Interest Arbitrage and Market Turbulence
Journal Article Covered Interest Arbitrage and Market Turbulence Get access Mark P. Taylor Mark P. Taylor City University Business School, Bank of England and Centre for Economic Policy Research, London Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 99, Issue 396, 1 June 1989, Pages 376–391, https://doi.org/10.2307/2234031 Published: 01 June 1989
Is Official Exchange Rate Intervention Effective
I examine the effectiveness of exchange rate intervention within the context of a Markov‐switching model for the real exchange rate. The probability of switching between stable and unstable regimes depends nonlinearly upon the amount of intervention, the degree of misalignment and the duration of the regime. Applying this to dollar–mark data for the period 1985–98, I find that intervention increases the probability of stability when the rate is m…
Fiscal Policy within Common Currency Areas
Divergences and convergences across European musical preferences
When investigating relational structures in culture, research in Europe has often either mapped the relationship between cultural tastes in a particular context, or mapped differences in cultural tastes (measured consistently) in different countries, without assessing how these differences can vary across them. Indeed, the idea of national homology (namely that the structures of cultural capital would be fairly similar in nations across Europe) h…
Educational Aspirations and Attitudes over the Business Cycle
UK policy debate has recently focused on the role of young people's aspirations and attitudes in raising educational attainment. We use the youth component of the British Household Panel Survey to examine how educational attitudes and aspirations among 11‐ to 15‐year‐olds vary with the local unemployment rate. We find that children who have highly educated parents with positive educational attitudes react more positively to low labour demand than…
The Effects of Regulation and Regulatory Risk in the UK Electricity Distribution Industry
This paper examines the impact of regulation of the UK electricity industry on expectations of investors in the shares of regional electricity companies (RECs). This is done using event‐study methodology where the movements of RECs’ returns are compared to movements in the stock market as a whole. We then test for the presence of regulatory risk by modelling the conditional volatility of equity returns before and after 30 significant regulatory e…
Analysing Credibility in High-Inflation Countries
Journal Article Analysing Credibility in High-Inflation Countries: A New Approach Get access Pierre-Richard Agénor, Pierre-Richard Agénor International Monetary Fund Search for other works by this author on: Oxford Academic Google Scholar Mark P. Taylor Mark P. Taylor International Monetary Fund Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 103, Issue 417, 1 March 1993, Pages 329–336, https:…
Modelling Risk in the Interwar Foreign Exchange Market
There is now evidence to reject the speculative efficiency hypothesis for the 1920s float. This paper investigates whether the rejection may be due to risk aversion. Two models of the risk premium are fitted: the ARCH-in-mean model and the DYMIMIC (kalman filter) model. Some support is found for the reichsmark, but the results are not otherwise supportive of either model. Copyright 1990 by Scottish Economic Society
Exchange Rates and Open Economy Macroeconomics
Journal Article Exchange Rates and Open Economy Macroeconomics Get access Exchange Rates and Open Economy Macroeconomics. Edited by RONALD MACDONALD and MARK P. TAYLOR. (Oxford: Basil Blackwell, 1989. Pp. xx+371. £35.00 hardback. ISBN 0631 162380.) Paul De Grauwe Paul De Grauwe Katholieke Universiteit, Leuven Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 100, Issue 402, 1 September 1990, Pag…
Evil Eye
Covered Interest Parity
Profitable deviations from covered interest parity (CIP) represent riskless arbitrage opportunities and so indicate market ineffic iency. Previous empirical work on CIP uses noncontemporaneously sampl ed data and reports mixed results. This paper uses high-frequency (te n-minute), high-quality data, gathered personally by the author in th e London foreign-exchange market, to test the CIP condition. The resu lts overwhelmingly support the market-e…
The Demand for Money
Journal Article The Demand for Money: A Dynamic Rational Expectations Model Get access Keith Cuthbertson, Keith Cuthbertson University of Newcastle upon Tyne, Economics Division, Bank of England, University of Newcastle upon Tyne Search for other works by this author on: Oxford Academic Google Scholar Mark P. Taylor Mark P. Taylor University of Newcastle upon Tyne, Economics Division, Bank of England, University of Newcastle upon Tyne Search for …
On Long-Run Solutions to Dynamic Econometric Equations Under Rational Expectations
Journal Article On Long-Run Solutions to Dynamic Econometric Equations Under Rational Expectations Get access Mark P. Taylor Mark P. Taylor Economics Division, Bank of England and University of Newcastle upon Tyne Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 97, Issue 385, 1 March 1987, Pages 215–218, https://doi.org/10.2307/2233332 Published: 01 March 1987
What Do Investment Managers Know? An Empirical Study of Practioners' Predictions
The rationality of investment managers' expectations is tested using quantified survey data. The variables examined include expectations of the annual percentage chan ge in the U.K. FTA All Share and U.S. Standard and Poor's composite s tock market indices, and the expected rates of U.K. price and wage in flation. Tests for the orthogonality of forecast errors to both small and large information sets known at the time of the forecast are car ried…
The Internationalisation of Stock Markets and the Abolition of U.K. Exchange Control
This paper aims to assess the impact of the abolition of U.K. exchange control on the degre of integration of U.K. and overseas stock markets. Using cointegration techniques, we find that although there is no significant increase in the correlation of short-run stock market returns for the United Kingdom and certain overseas markets post 1979, there does appear to be a marked increase in the degree to which these markets move together in the long…
Vector Autogressive Tests of Uncovered Interest Rate Parity With Allowance for Conditional Heteroscedasticity
Covered Interest Arbitrage and Market Turbulence
Journal Article Covered Interest Arbitrage and Market Turbulence Get access Mark P. Taylor Mark P. Taylor City University Business School, Bank of England and Centre for Economic Policy Research, London Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 99, Issue 396, 1 June 1989, Pages 376–391, https://doi.org/10.2307/2234031 Published: 01 June 1989
Modelling Risk in the Interwar Foreign Exchange Market
There is now evidence to reject the speculative efficiency hypothesis for the 1920s float. This paper investigates whether the rejection may be due to risk aversion. Two models of the risk premium are fitted: the ARCH-in-mean model and the DYMIMIC (kalman filter) model. Some support is found for the reichsmark, but the results are not otherwise supportive of either model. Copyright 1990 by Scottish Economic Society
Exchange Rates and Open Economy Macroeconomics
Journal Article Exchange Rates and Open Economy Macroeconomics Get access Exchange Rates and Open Economy Macroeconomics. Edited by RONALD MACDONALD and MARK P. TAYLOR. (Oxford: Basil Blackwell, 1989. Pp. xx+371. £35.00 hardback. ISBN 0631 162380.) Paul De Grauwe Paul De Grauwe Katholieke Universiteit, Leuven Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 100, Issue 402, 1 September 1990, Pag…
Charts, Noise and Fundamentals in the London Foreign Exchange Market
Journal Article Charts, Noise and Fundamentals in the London Foreign Exchange Market Get access Helen Allen, Helen Allen Bank of England and City University Search for other works by this author on: Oxford Academic Google Scholar Mark P. Taylor Mark P. Taylor City University, Bank of England and Centre for Economic Policy Research Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 100, Issue 400,…
Modelling the Yield Curve
Exchange Rates, Policy Convergence, and the European Monetary System
We analyze the degree of policy convergence of \nEMS member countries relative to that of some non-EMS \ncountries. Interestingly, we find convergence for the nominal \nand real exchange rates and money supplies of the EMS \nmembers but not for the non-EMS countries. We also provide \nsome evidence to support the "German leadership hypothesis" \nin the context of intra-EMS monetary policy convergence
Modelling the Yield Curve
We test and estimate a variety of alternative models of the yield curve, using weekly, high-quality U.K. data. We extend the Campbell-Shiller technique to the overlapping data case and apply it to reject the pure expectations hypothesis under rational expectations. We also find that risk measures, in the form of conditional interest rate volatility, are unable to explain the term premium. A simple, market segmentation approach is, however, modera…
Voyeurism and Aposiopesis in Renaissance Poetry
Why Don't Individuals Speculate in the Forward Foreign Exchange Market
It is shown, using institutional evidence, economic theory, and empirical evidence, that, given reasonable estimates of individuals' coefficients of relative risk aversion, the combination of riskiness, minimal size of contract, and transactions costs will deter all but the wealthiest individuals from seeking to speculate in the forward foreign exchange market. Copyright 1992 by Scottish Economic Society
Applied Econometric Techniques
Journal Article Applied Econometric Techniques Get access Applied Econometric Techniques. By Keith Cuthbertson, Stephen G. Hall and Mark P. Taylor. (New York and London: Philip Allan, 1991. Pp. xiii + 274. £45.00 hardback. ISBN 0 86003 084 9.) Carlo A. Favero Carlo A. Favero Queen Mary and Westfield CollegeUniversity of london Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 102, Issue 415, 1 N…
Money Demand, the Cagan Model and the Inflation Tax
This paper examines the demand for money under conditions of very high inflation in Argentina, Bolivia, Brazil, Chi le, and Peru during the 1970s and 1980s. The authors test whether the monetary and inflationary experiences of these countries can be adequately characterized by the Cagan (1956) model, using an econometric procedure that is not reliant on any particular assumpti on concerning expectations formation except that forecasting errors ar…
Modeling the Demand for U.K. Broad Money, 1871-1913
In this paper, the author obtains and interprets estimates of short- and long-run demand for money in the United King dom in the period 1871-1913 utilizing high-quality data on broad money and its determinants and applying recent econometric techniques. A unique, theoretically consistent long-run function is estimated as well as a short-run dynamic demand function that is formally superio r to a number of previous estimates. Copyright 1993 by MIT…
Regional House Prices in Britain
Fiscal Policy within Common Currency Areas
Analysing Credibility in High-Inflation Countries
Journal Article Analysing Credibility in High-Inflation Countries: A New Approach Get access Pierre-Richard Agénor, Pierre-Richard Agénor International Monetary Fund Search for other works by this author on: Oxford Academic Google Scholar Mark P. Taylor Mark P. Taylor International Monetary Fund Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 103, Issue 417, 1 March 1993, Pages 329–336, https:…
Macro-Economic Shocks, the ERM, and Tri-Polarity
The authors use the comparative behavior of real output growth and inflation behavior of members and nonmembers of the exchange rate mechanism (ERM) to analyze the importance of ERM membership on macroeconomic performance. An econometric procedure for identifying temporary and permanent shocks to output is proposed and executed. The results confirm that the ERM has acted as a vehicle for macropolicy coordination between members. The authors also …
Sand in the Wheels of Foreign Exchange Markets
Journal Article Sand in the Wheels of Foreign Exchange Markets: A Sceptical Note Get access Peter Garber, Peter Garber Brown University Search for other works by this author on: Oxford Academic Google Scholar Mark P. Taylor Mark P. Taylor University of Liverpool and CEPR Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 105, Issue 428, 1 January 1995, Pages 173–180, https://doi.org/10.2307/22353…
Earnings, Independence or Unemployment
This paper attempts to estimate the role played by three key variables (namely expected earnings, the desire for independence and the ability to find paid employment) on the paid employee/self‐employment decision using a simple three stage utility maximization model. The empirical results suggest that individuals are attracted to self‐employment because of higher expected earnings relative to paid employment and by the freedom from managerial con…
Economics (44 obras) · Monetary Policy and Economic Impact (25 obras) · Econometrics (21 obras) · Monetary economics (18 obras) · Political science (15 obras) · Demographic economics (11 obras) · Exchange rate (9 obras) · Finance (9 obras) · Macroeconomics (9 obras) · Business (8 obras)