In 1996 and 1997, approximately 1 in 10 British workers thought that it was either likely or very likely that they would lose their job within 12 months. Increased job insecurity has been touted as a possible cause for the decline of equilibrium unemployment in Britain and the United States...

In the 1997 and 1998 waves of the British Household Panel Survey, workers are asked to assess their level of job security in terms of the probability of becoming unemployed within the next year. We examine whether these perceptions of insecurity are purely subjective or are systematically...

This paper focuses on the determinants of aggregate investment spending in the UK, for the industrial and commercial company (ICC) sector. Important focal points of our analysis are the role for real profits and the impact of irreversibility and uncertainty in determining aggregate investment...

The failure of models of aggregate consumption to predict the consumer expenditure boom in the late 1980s is well- documented. This has generated a large theoretical and empirical literature in an attempt to refine our understanding of aggregate consumer spending behaviour. In this paper we...

We assess the stability of the wage structure in an economy experiencing substantial economic changes. We find that the structure of inter-industry wage differentials remained remarkably stable in Brazil in the face of major shocks.

Using data from the first six waves of the British Household Panel Survey, we estimate the impact of working longer hours over 1991 to 1995 on 1996 wages. We find that there are positive but diminishing long-term returns, with the returns becoming negative beyond 47 hours for women and 59 hours...

The answer to the question posed in the title of the paper may have some bearing on whether consumer spending will respond in similar ways to common shocks across the European Union. The DHSY model is implemented, its robustness and its commonality assessed for the 15 EU countries. The model...

This paper investigates a demand for money relationship for the dominican Republic. The financial system of the Dominican Republic is underdeveloped, and there are no suitable domestic data on the opportunity cost of holding money. Economic links with the US suggest a possible role for a foreign...

Recent theoretical developments relating to investment under uncertainty have highlighted the importance of irreversibility for the timing of investment expenditures and their expected returns. This has subsequently stimulated a growing empirical literature which examines uncertainty and...

There are two findings that are conspicuous in almost all studies of individual wage determination. First, standard cross-section wage equations rarely account for more than half of the total variance in earnings between individuals. Second, there are large and persistent inter-industry wage...