The European Monetary System experienced pressure on exchange rates, which led toa devaluation or a subsequent widening of bands of EMS currencies. In this paper the source(s) of pressure on the exchange rate are identified. Currency crises were caused by fundamentals in 1992; however, they were...

This paper explores the use of the dichotomous choice question with follow-up to examine intertemporal preferences for non-fatal changes in own health. Maximum likelihood estimation by censored logistic regression is used to analyse the data collected from the general public. The results show...

The international variation in road death rates is investigated using cross-sectional data for 19 countries. It is proposed that road fatality rates are influenced by modal substitution between relatively vulnerable trips by foot and bicycle, and motorized journeys which have a smaller exposure...

This paper explores whether predictable autocorrelation structures exist in returns data on Australian stock indices. We explore the data using the power transformations of Ding, Granger and Engle (1993) and Hentschel (1995). We find that for a large number of different market indices there...

This paper incorporates unmeasured heterogeneity into the econometric specification to estimate the determinants of the unemployment duration for college graduates in Taiwan. Empirical results indicate that personal characteristics and job search variables are significant determinants while...

The paper examines the extent to which occupational-injury-induced permanent impairment translates into work-related disability. While most permanently impaired workers return to their time-of-accident employer, job and wage, these workers then experience high initial rates of turnover. This...

This paper seeks to explore the possible long-run causal connection between the excess US bank reserves and the short-term interest rate differentials (differences between the federal funds rates and discount rates) within the well-known bivariate cointegration framework. It uses monthly data...

In this paper we show that whilst there appear to be substantial private earnings gains to be had from a university education, these are greater for women than they are for men. Due to substantial asymmetries in post-graduation earnings performance, choice of subject is more important for men.

This letter provides empiricial evidence on the impact of market movements in odds between opening and closing prices on relative tote and bookmaker returns when explicit allowence is made for insider trading. The results support an asymetric impact and are not readily reconcilable with market...

This paper examines the extent to which foreign entry and exit in the UK is related to domestic industry characteristics. The units of analysis are firm numbers, and thus entry and exit at the industry level are treated as being generated by Poisson processes. This therefore uses quasimaximum...