It is standard in the literature on training to use wages as a sufficient statistic for productivity. This paper examines the effects of work-related training on direct measures of productivity. Using a new panel of British industries 1983-96 and a variety of estimation techniques we find that...

We show that the minimal forward (reverse) recursive unit tests of Banerjee, Lumsdaine and Stock ["Journal of Business and Economics Statistics" (1992) Vol. 10, pp. 271-288] are consistent against the alternative of a change in persistence from "I"(0) to "I"(1) ["I"(1) to "I"(0)]. However, these...

This paper contributes to the econometric literature on structural breaks by proposing a test for parameter stability in vector autoregressive (VAR) models at a particular frequency "ω", where "ω"  is an element of  [0, "π"]. When a dynamic model is affected by a structural break, the...

This note presents some properties of the stochastic unit-root processes developed in Granger and Swanson ["Journal of Econometrics" (1997) Vol. 80, pp. 35-62] and Leybourne, McCabe and Tremayne ["Journal of Business & Economic Statistics" (1996) Vol. 14, pp. 435-446] that have not been or only...

In this paper, we use Monte Carlo (MC) testing techniques for testing linearity against smooth transition models. The MC approach allows us to introduce a new test that differs in two respects from the tests existing in the literature. First, the test is exact in the sense that the probability...

This paper uses data from the Labour Force Survey over the period 1996-2002 to investigate the returns to a detailed list of academic and vocational qualifications. In particular, the analysis focuses on how these returns have varied over the time period considered, how the returns vary over an...