Evidence is presented on the Real Interest Parity Hypothesis for a set of emerging and developed countries. This is done by carrying out a set of unit-root tests on the real interest differentials with respect to Germany and the US. Our results support the hypothesis of a rapid reversion towards...

The variance of real interest rate differentials (rids) is decomposed between ex post deviations from relative purchasing power parity and uncovered interest rate parity (UIRP) for a set of emerging markets from 1995M5 to 2004M3. The results point out to nominal interest rate differentials and...

Past research on European Union (EU) enlargement has tended to neglect the effects on trade with non-preferred trading partners. This paper examines the consequences of EU enlargement on trade between Spain and the Latin American countries with which it has traditional economic and cultural...

This paper presents an extended model of cumulative growth in which the effects of innovation and catching-up are considered. The effect of innovation adds another source of cumulative growth to that of the traditional models and allows for the consideration of the importance of non-price...

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...

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 health markets, government policies tend to subsidise poorer groups. The purpose of this paper is to analyse the implications of an income-based subsidy policy on the incentives of countries to implement price arbitrage and of firms to provide market access to poorer groups.

We investigate the relationship between training and the likelihood of commercial survival over a 7-year period, using a survey of British establishments. We find that in establishments of 200 or more employees, increased training of those in Professional, Sales, and Clerical and Secretarial...

This paper surveys the latest developments in the literature on the impact of inward foreign direct investment (FDI) on growth in developing countries. In general, FDI is thought of as a composite bundle of capital stocks, know-how, and technology, and hence its impact on growth is expected to...

The paper investigates the impact of different types of training on the mobility expectations of workers, using two new data sets, one of individuals the other of firms. The innovation is that the data incorporate measures of the degree of transferability of training, improved information on the...