We believe this is the first-ever attempt to chart the full extent of cycling’s contribution to the British economy. Previous studies have focused on particular sectors such as the bicycle retail trade, but never before has a study been conducted into the true ‘Gross Cycling Product’ (GCP)...

Telecommunications policy issues rarely make news, much less mobilize thousands of people. Yet this has been occurring in the United States around efforts to introduce "Net neutrality" regulation. A similar grassroots mobilization has not developed in the United Kingdom or elsewhere in Europe....

We show that Treasury security prices in the secondary market decrease significantly before subsequent auctions and recover shortly after. This price pattern implies a large issuance cost for the Treasury Department, which is estimated to be between 9 and 18 basis points of the auction size. For...

The paper discusses community enforcement in infinitely repeated two-action games with local monitoring. Each player interacts with and observes only a fixed set of partners, of whom he is privately informed. The main result shows that for generic beliefs efficiency can be sustained in a...

This study attempts to give the reader an understanding of social stratification in the Gulf Cooperation Council (GCC) states – Kuwait, Saudi Arabia, Bahrain, Qatar, the United Arab Emirates and Oman. Using the principal–agent theoretical framework for examining both the socio-economic...

This note is concerned with the role of cities and urban policy in growth. Decentralisation from central to local government may help city leaders raise economic performance. It also generates new policy choices for central government – especially in policy areas where local leaders are...

Europe's numerous fiscal crises – 2003 Stability and Growth Pact (SGP) crisis, its subsequent 2005 reforms, and the recent sovereign debt woes – draw attention to a shift in the management of EMU; namely the inclusion of more uncertainty-based governance. Understood as modalities of...

This paper looks at the current state of relations between Iran and the states of the Gulf Cooperation Council (GCC) and places these relations in their recent historical context, aiming to tease out their underlying dynamics and likely future evolution. In particular, the paper examines the...

This policy paper is concerned with rural policy. It spells out the lessons for rural policy that emerge from recent SERC research.