The goal of this paper is to investigate and estimate long- run relationships among M1, prices, output and interest rates, with a view to determining if there is a stable relationship that can be interpreted as long-run money demand. The paper uses a maximum-likelihood multiple-equation...

Two problems exist in standard limited-participation models: (1) the liquidity effect is not as persistent as in the data; and (2) some nominal variables are unrealistically volatile. To address these problems, we introduce nominal wage, price, and portfolio adjustment costs, to better understand...

This paper provides estimates of the impact of higher education qualifications on the earnings of graduates in the UK by subject studied. We use data from the recent UK Labour Force Surveys which provide a sufficiently large sample to consider the effects of the subject studied, class of first...

The increasing use of online labour platforms as intermediaries for finding work - known as crowdwork or gig work - is a new form of 'hybrid' (solo)self-employment that hinges on the borders of dependent and self-employment. In this study we use a novel international dataset of online platform...

This paper uses a particular school exit rule previously in effect in England and Wales that allowed students born within the first five months of the academic year to leave school one term earlier than those born later in the year. Focusing on women, we show that those who were required to stay...