This paper gives an overview of quantitative work on the interwar labour market, a topic which has received growing attention in recent years. Much of this has been stimulated by the application of simple models to measure the impact of unemployment insurance on labour supply. A review of the...

In a closed competitive general equilibrium constant returns economy, consumer taxes separate consumer and producer prices of goods. Shadow prices appropriate for the evaluation of public sector projects are derived on alternative assumptions about what happens to taxes as public production...

In this paper, we examine a new survey of 6,010 United States households and estimate a model for the allocation of total net worth among different assets. The paper has three main aims. The first is to investigate the extent to which a conventional portfolio choice model can explain the...

This paper shows how previous fluctuations in births affect the educational system, relative earnings and unemployment rates in the labour market, the number and composition of households, patterns of housing consumption, pressures in health services and personal social services, and finally...

An important drawback of single equation migration models is that in effect they assume wages and employment to be independent of the level of migration. Williamson has proposed instead a simple general equilibrium model with labour supply and demand equations for sending and receiving countries...

This note re-examines the results of tests of the hypothesis that the forward exchange rate is an unbiased and efficient predictor of the future spot exchange rate. As an alternative hypothesis we posit the existence of a time-varying risk premium. We show that it is possible to place a...

How migration affects economic welfare in sending and receiving countries is an important issue. This paper deals mainly with one aspect, the relation between immigration and the real wage in the host country. Theory is ambivalent on the outcome. While it is plausible to see immigration...

This paper examines the implications for health policy of recent demographic trends. It examines the remarkable succession of a 'baby boom' generation followed by a 'baby bust' generation in most Western countries. After reviewing the explanatory literature, and rejecting the likelihood of any...

This essay presents a rigorous theory of involuntary unemployment in less developed countries based on the observation that at low consumption levels a person's overall ability to work is impaired. The theory links the incidence of involuntary unemployment in a market economy to the incidence of...

Were cash benefits and welfare services available to the unemployed sufficient to protect them from ill-health? Recent reappraisals have tended to magnify the influence of welfare provision. The present review draws on hitherto unexploited, confidential reports of the Ministry of Health and...