The invited tender-bid procurement auction used by oil companies to procure intermediate inputs into oil gathering has to find solutions to several problems. Assesses the nature of these problems and the peculiarities of the operating rules designed to solve them. Develops an economic rationale...

Sample-survey information is used to assess aspects of the predictive competence of the transaction-cost paradigm. The extent of vertical disintegration by oil companies in offshore oil gathering is shown to be consistent with the revealed efficacy of the markets in intermediate goods and...

Examines the behaviour of UK employment in manufacturing over the period 1964 to 1986. The use of cointegration techniques allows the separation of a long‐run equilibrium relationship for employment from its short‐run dynamics. The estimated model demonstrates a high degree of parameter...

Examines the behaviour of UK employment in manufacturing over the period 1964 to 1986. The use of cointegration techniques allows the separation of a long-run equilibrium relationship for employment from its short-run dynamics. The estimated model demonstrates a high degree of parameter...

In this article the monetary approach to the exchange rate is tested for the franc‐pound, dollar‐pound and franc‐dollar exchange rates over the period February 1921 to August 1925. It is shown that the estimation technique utilised is very important. Some out of sample forecasts from a...

This article formulates, estimates and simulates a structural model of the sterling‐dollar exchange rate over the floating rate period. A critique of existing empirical implementations of the asset‐market approach is followed by formulating a small structural model which augments a carefully...

Purpose – The purpose of this paper is to empirically investigate the role of real effective exchange rate (REER) volatility on export volume and also to address the impact of the international financial crisis of 2008. Design/methodology/approach – The empirical methodology is based on...

Sample‐survey information is used to assess aspects of the predictive competence of the transaction‐cost paradigm. The extent of vertical disintegration by oil companies in offshore oil gathering is shown to be consistent with the revealed efficacy of the markets in intermediate goods and...

The invited tender‐bid procurement auction used by oil companies to procure intermediate inputs into oil gathering has to find solutions to several problems. Assesses the nature of these problems and the peculiarities of the operating rules designed to solve them. Develops an economic...