This study uses the first twelve waves of the British Household Panel Survey covering the period 1991-2002 to investigate the extent of constraints on desired hours of work within jobs and the degree of flexibility of the labour market for a sample of women. Our main findings are as follows....

The UK's Labour Government has expanded means-testing of social security but attempted to do so while minimising the disincentive effects typically associated with such an approach. We test whether it has succeeded by reviewing the effect of 5 years of reforms on a range of incentives across the...

The current Labour Government was elected in 1997 with few specific social security proposals. This paper argues that after five years, consistent trends in social security policy have emerged: there is a willingness to increase benefits; a “work-first” focus; increasing centrality for...

Over the past 20 years the incidence of relative poverty among Britain's children has tripled. These changes are related to increased earnings inequality, growth in the number of single (lone) parent households, and an increased share of households with children with no working adult. The Labour...

This paper presents a tour of welfare reform in the UK since the last change of government, summarising the most important changes in active labour market policies, and in measures intended to strengthen financial incentives to work. It argues that developments in the UK’s active labour market...

The principal of horizontal equity can be interpreted as requiring that households with the same pre-transfer incomes and the same consumption needs should receive the same post-transfer incomes. We argue the generosity of government financial support to families with children should be analysed...

This paper uses the first twelve waves of the British Household Panel Survey covering the period 1991-2002 to investigate single women's labour supply changes in response to three tax and benefit policy reforms that occurred in the 1990s. We find evidence of small labour supply effects for two...

We use the method of indirect inference to test a full open economy model of the UK that has been in forecasting use for three decades. The test establishes, using a Wald statistic, whether the parameters of a time-series representation estimated on the actual data lie within some confidence...

A model of profits switches between four regimes with fixed probabilities; the rationally expected profits stream implies the stock market value. This efficient market model is not rejected by UK post-war time-series behaviour of either profits or the FTSE index.

The goals of income transfer systems in the US and the UK for low-income families are to reduce poverty and welfare dependency and encourage work. Both the US and UK have made in-work benefits a key part of their strategy through the Earned Income Tax Credit (EITC) and Working Families' Tax...