This paper investigates the empirical performance of a system of investment and employment equations for the U.K. and West German manufacturing sectors. The distinguishing feature of the model is the assumption that firms face adjustment costs in changing the stock of capital and labor and that...

The objective of this paper is to examine the impact of interest rate changes on the common stock returns of portfolios of financial institutions in the UK. The five groups of financial institutions examined are banks, insurance companies, investment trusts, property investment companies and...

U.K. pension funds account for 38 percent of personal sector net financial wealth and are a major investor in U.K. domestic asset markets. This paper analyzes the investment behavior of the U.K. pension fund industry between 1980 and 1988. The authors provide a stable explanation for this...