There is much debate, but surprisingly little evidence, concerning the impact of primarily supply side Welfare to Work programmes in labour markets characterised by weak labour demand. The usual argument is that we might expect Welfare to Work measures to have greater impacts in tight labour...

One view of Active Labour Market Programmes (ALMPs) is that they are 'most needed in slack labour markets, where more unemployed workers require help finding jobs. But ALMPs might be less effective in such labour markets because there are fewer vacancies with which programme participants can...

We show how to obtain the exact power envelope of tests for a unit root against trend-stationary alternatives, under normality. This is in contrast to the asymptotic power envelope derived by Elliott, Rothenberg and Stock (1996), and is used to indicate the lack of power of unit root tests in...

<title>Abstract</title> This paper proposes a study on the contribution of external debt to the expansion of economic growth for 31 developing countries. Over a period of 36 years, by using dynamic panel data econometrics estimation GMM-system, the results reveal that the accumulation of external debt is...

<title>Abstract</title> The main analytical contribution of this paper is to analyze the cost of the decision to jointly hold reserves and sovereign debt. By analyzing the impact of holding reserves and sovereign debt on sovereign credit ratings will provide the evidence of the costs of holding reserves and...

A long-standing issue in industrial economics is the understanding of the relative prevalence of labor-managed firms (LMFs) and capitalist firms across industries. In proportionate terms, LMF entry tends to be highly concentrated in particular industries. We provide empirical evidence on this by...

This paper investigates the effect of exchange rate volatility on US-UK bilateral trade flows. As part of econometric problems arising from a generated variable, we consider a special case when an ARCH type auxiliary model is used to measure uncertainty in the exchange rate and discuss a...