This paper provides benchmark estimates of the impact that trade unions have on the wage rates paid to workers in Great Britain using data from the Labour Force Survey. This is done for a number of gender and occupational subgroups of the population using information on both union membership and...

This paper is critical of studies that assume the rate of depreciation of technological knowledge is exogenously given and constant. It argues that the development of rival inventions and/or the existence of a pool of inventions from which spillovers take place impact directly on the size and...

The currency stabilisation process of the 1920s - going back to gold - has been much maligned by scholars past and present. That it had defects and eventually collapsed in the 1930s should not obscure our view of the motives for the return. Given the chaotic currency and financial situation...

This short reply responds to Dunns comment in the current issue of this journal challenging the transmutable credentials and axiomatic base of Austrian economics. It is argued contra Dunn (and Davidson) that the Austrians are transmutable theorists too with the economic calculation debate as...

This paper examines the impact of corporate layoffs on firm efficiency levels. The methodology used provides fresh insights into the effects of layoffs on firm and labour-force performance. This paper uses a data envelopment analysis (DEA) approach to provide a benchmark measure for the...

The familiar partial equilibrium analysis of an individual industry's use of a particular input involves changing only one price (that of the particular input in question), even when long period equilibrium is considered. But this is incoherent, other than in fluke cases, since such a price...

In this paper a re-examination of the original time-series data sets used by Professor Douglas and associated researchers to establish the existence of an aggregate production function is undertaken. Particular attention is paid to the issue of whether the data provide deductive support for the...

The article presents a classroom-suited version of the equilibrium exchange rate model of Stockman (1987) that features Cobb-Douglas functional forms for both production and utility, and considers foreign exchange intervention explicitly.

The intention to continue on to further study by students in full-time education is investigated with particular focus on the role of peer groups and educational experience. Using random effects nominal logit regression analysis and data from the Bradford Youth Cohort surveys, it is found that...

This paper gives an overview of subsidy reductions in the privatised passenger rail industry in Britain before focusing on productivity performance across the first four years under the privatised structure. Subsidy reductions are analysed in terms of the average annual percentage increase in...