This study investigates the behaviour of the components of the bid-ask spread around earnings announcements. We find that adverse selection cost component significantly increases surrounding the announcements while the inventory holding and order processing components significantly decline...

Based on information from the 1991/92 General Household Survey, we examine the effect of work and non-work related child care costs on UK mother's employment rates. We find that subsidising work-related child care costs increases mothers' probability of labour force participation. However, we...

This paper examines the distributional performance of social security provisions in the form of allowances, income related deductions and tax credits. Our analysis reveals that provisions in the form of tax credits is more progressive and redistributive relative to allowances and income related...

This paper proposes open- and closed-economy versions of an endogenous growth model to evaluate the impact of foreign direct investment (FDI) and international knowledge transfers and spillovers on the long-run growth rate of the recipient economy. In the open economy, foreign investors may...

The paper identifies the sources of indeterminacy of monetary steady states in a model of optimum supply of money in which the government maximises revenue through seignorage subject to an underlying inflationary process. We show that the determination of the monetary expansion path is sensitive...

This paper makes available a number of projections of the age-sex distribution of the Canadian population in the 45-year period 1996 to 2041 and comparisons with the previous 45-year period. The projections combine assumptions relating to fertility, mortality and immigration so as to produce...

THRILS is a computer program that embodies a model designed to generate daily and weekly electricity load profiles for 31 industries in 7 regions for each of 12 months under various user-controlled assumptions about weather conditions. The present report describes THRILS briefly but its main...

The baby boom generation is now well into middle age, and over the next few decades will reach old age. As the boom generation grows old the costs of maintaining existing social support systems will rise, and the ability or willingness to sustain those systems has been called into question. In...

In a job matching context, Bayesian learning is assumed in order to provide an optimising framework for the analysis of workers' labour turnover decisions. This framework allows workers' labour turnover behaviour to be affected not only by the wage rate but also by a vector of non-wage job...

A disaggregated model of the marginal external costs of road accidents imposed by different road users is developed. The model explicitly specifies the adjustment of road users to increases in accident risks imposed by additional road use and is used to estimate marginal external costs of road...