We investigate the use of various job search strategies and their impact on the probability of subsequent employment and the re-employment wage among working age men in Britain. We find that replying to advertisements and using Job Centres are the two most common methods of job search and that...

We describe the dynamics of second job holding in Britain during the 1990s using panel data from the British Household Panel Survey. Our results show that second job holding is surprisingly persistent over time - about 10% of workers have a second job at any point in time while two thirds of...

We examine persistence in work hour constraints using subjective data from the British Household Panel Survey, and investigate the role of job and employer changes in alleviating these constraints. Evidence suggests that 40 per cent of employees prefer to work a different number of hours at...

How can international monetary stability be promoted? This study looks at ways to bolster economic policies and coordination among the industrial countries serving as nominal anchors for the world economy. It also assesses the operation of monetary unions and common currency areas. The authors...

This paper replies to Ahking’s (1990) re-examination of Taylor and McMahon’s (1988) analysis of long-run purchasing power parity in the 1920s. We demonstrate that Ahking’s conclusions are only partially correct and reestablish our conclusion that, a form of long-run purchasing-power parity...

This paper contains essays on sterilized intervention, on covered interest rate parity, and on chartist analysis in financial markets. Each essay contains a definition, brief survey of the empirical evidence and overall assessment of each topic

We test and estimate a variety of alternative models of the yield curve, using weekly, high-quality U.K. data. We extend the Campbell-Shiller technique to the overlapping data case and apply it to reject the pure expectations hypothesis under rational expectations. We also find that risk...

We survey the literature on the two main views of exchange rate determination that have evolved since the early 1970s: the monetary approach to the exchange rate (in flex-price, sticky-price and real interest differential formulations) and the portfolio balance approach. We then go on to discuss...

This paper deals with hysteresis in the desired equilibrium exchange rate (DEER) arising from misalignment. When the actual real exchange rate departs from its DEER value, current account realizations--and consequently, debt service obligations--will differ from those assumed in the initial DEER...