Most previous empirical studies of individual migration choice analyze the reasons associated with out-migration from an origin location. In contrast, we model the migration decision within the context of potential destinations, using British panel data over the period 1991-2003. Contrary to...

This paper replies to Ahking’s (1990) re-examination of Taylor and McMahon’s (1988) analysis of long-run purchasing power parity in the 1920s. We demonstrate that Ahking’s conclusions are only partially correct and reestablish our conclusion that, a form of long-run purchasing-power parity...

We test and estimate a variety of alternative models of the yield curve, using weekly, high-quality U.K. data. We extend the Campbell-Shiller technique to the overlapping data case and apply it to reject the pure expectations hypothesis under rational expectations. We also find that risk...

This paper deals with hysteresis in the desired equilibrium exchange rate (DEER) arising from misalignment. When the actual real exchange rate departs from its DEER value, current account realizations--and consequently, debt service obligations--will differ from those assumed in the initial DEER...

Most empirical studies of individual migration choice analyse factors associated with out-migration from an origin location. In contrast, we model the migration decision within the context of potential destinations, combining British panel data over the period 1992-2007 with other data sources....

We explore the relative influence of family and neighbourhood on educational attainment and how this varies by sibling type. Using English register data we find sibling correlations in exam scores of 0.563 at the end of primary school and of 0.621 at the end of compulsory schooling. The...

We explore the relative influence of family and neighbourhood on educational attainment and how this varies by sibling type. Using English register data we find sibling correlations in exam scores of 0.563 at the end of primary school and of 0.621 at the end of compulsory schooling. The...