This paper models the US dollar as a global currency and focuses on the effects of US money supply shock upon China's economy. The special roles of US dollar as a global currency and the special institutional arrangements of China are investigated. Given a positive US money supply shock, both...

In the matter of financial literacy it is often supposed that more is automatically preferable to less. This paper considers to what extent this may be true generally, and specifically focuses on the case of investment forecasting skill (a significant component of an individual's financial...

This paper presents an argument in favor of foreign lobbying. We show how foreign lobbying can help internalize cross national externalities and promote social objectives.

This paper studies the costs and benefits of foreign lobbying. We show how and when foreign lobbying can help internalize cross national externalities. We argue that this is an often overlooked benefit of foreign lobbying. We also study under what conditions a constitutional rule banning foreign...

We represent hourly, regional wind data and transmission constraints in an investment planning model calibrated to the UK and test sensitivities of least cost expansions to fuel and technology prices. Thus we can calculate the value of transmission expansions to the system. We represent limited...

Does local democracy help or hinder the solution of collective action problems? We study this question in the context of public spending on health-related urban amenities in a panel of 75 municipal boroughs in England and Wales in 1868, 1871 and 1886. We .nd evidence of a U-shaped relationship...

It is puzzling today to explain diversity and imperfection of actual transmission monopoly designs in competitive electricity markets. We argue that transmission monopoly in competitive electricity markets has to be analysed within a Wilson (2002) modular framework. Applied to the management of...

Co-ordination through collective bargaining is recognised as an influential determinant of labour market and macroeconomic performance. This paper provides a systematic review of the empirical literature on the subject. We focus on comparative studies of labour institutions in the OECD area that...

Using data over a 34-year span on UK quoted firms, this paper seeks to identify the factors that increase the likelihood of exit of firms. Firms may disappear through the mutually precluding events of bankruptcies and acquisitions. We use a competing-risks hazard model to determine...

This paper employs a dynamic multi-country framework to analyze the international macroeconomic transmission of El Niño weather shocks. This framework comprises 21 country/region-specific models, estimated over the period 1979Q2 to 2013Q1, and accounts for not only direct exposures of countries...