This paper develops a new theory of seigniorage suited to modern economies where the majority of money is created not by the state or central bank but by commercial banks and other monetary financial institutions via their lending activity. We identify four different forms of seigniorage that...

Economic models of housing markets have struggled to explain persistent cycles in house prices, housing supply and housing finance, in particular in major cities. Housing markets are complex systems and standard equilibrium-based models may not be well equipped to capture the role of feedback...

This paper maps the distribution of total direct and embodied emissions of greenhouse gases by households in the UK and goes on to analyse their main drivers. Previous research has studied the distribution of direct emissions by households, notably from domestic fuel and electricity, but this is...