The theoretical literature on endogenous growth and international trade suggests that comparative advantage is endogenous. Sector-specific learning by doing and technology transfer respectively provide reasons why initial patterns of international specialization may persist or exhibit mobility...

The recent financial crisis and subsequent deterioration in macroeconomic outcomes have raised question marks over the framework for monetary policy in the United Kingdom. This paper examines the performance of the UK's monetary policy framework in the light of these questions. Far from...

This paper argues that, to measure the quantity of R&D undertaken, it is necessary to deflate R&D spending by a measure of its cost. Based on Divisia weighted averages of proxy price series, price indices are constructed for R&D spending in UK manufacturing in eight sectors and as a whole for...

Economic conditions exert a strong influence on regional migration. On the one hand, strong labour market conditions, as exemplified by low unemployment rates and high earnings, draw migrants into regions. On the other hand, strong housing market conditions can prevent movement since expensive...

The Welsh economy has undergone rapid structural change in recent years. This paper uses data from the New Earnings Survey to examine how earnings in Wales changed relative to those of Great Britain between 1975 and 1994. There are five main findings. First, earnings of workers in Wales have...

This paper models regional earnings and unemployment in the ten regions of Great Britain between 1972 and 1995, paying particular attention to their interaction and to the important influence of the housing market. In contrast to Blanchard and Katz (1992, 1997) for the United States, we find...

Recently, business-university collaborations have become the subject of much interest. It is important to distinguish between 'blue-sky' research and more directly commercially applicable research. This paper provides a framework in which to think about the latter. A simple screening model is...