With a move away from up-front charges following the introduction of stakeholder pensions, consumers are no longer penalised for lapsing on many long-term savings policies. Nevertheless, persistency rates may still provide an (imperfect) indicator of sales quality and provide some information on...

Objective: To determine the cost utility of treating schizophrenic patients with olanzapine compared with other antipsychotics in a naturalistic outpatient setting. An Epoch analysis was used to analyze the longitudinal data. Multivariate regression analyses that adjusted for baseline...

The properties of two goodness-of-fit measures are analyzed for the instrumental variables model. One measure is based on the two-step approach to IV estimation and is equal to the coefficient of determination in the second stage equation. This measure therefore measures the fit of a...

Using many moment conditions can improve efficiency but makes the usual generalized method of moments (GMM) inferences inaccurate. Two-step GMM is biased. Generalized empirical likelihood (GEL) has smaller bias, but the usual standard errors are too small in instrumental variable settings. In...

Britain, perhaps uniquely, has experienced simultaneoud rises in both wage inequality and polarisation of eployment across households over the past twenty years. This article investigates the inter-relations of these two trends by examining the changing nature of new jobs and the characteristics...

Productivity growth in 329 companies (total employment = 1.96 million workers) is analysed for the period 1984-1989. The study breaks new ground by (i) analysing the impact of changes in union status - such as repudiation of a closed shop or derecognition - on productivity growth; (ii) examining...

The recession of 2008-2009 inflicted a larger cumulative loss of UK output than any of the other post-war recessions. Nevertheless, employment rates remained higher than might have been expected given the experience of previous recessions. The main reasons for this appear to be a combination of...