Banks need to keep both capital and liquidity against unforeseen events.During the early-mid nineteenth century, there were a number of banking crises. Banks responded by holding higher levels of capital.An analysis of bank capital shows that they adjusted their capital ratios according to the...

This review highlights some of the principal issues and debates surrounding age discrimination at the workplace. Essentially, the existing research in this area can be divided into three broad, although somewhat overlapping, categories. The first explores the underlying causes and consequences...

Since 1988, Professor Geoffrey Wood of the Sir John Cass Business School, has written a regular column in the IEA's journal, Economic Affairs, in which he exposes popular economic fallacies. Fifty Economic Fallacies Exposed collects fifty of these columns and exposes numerous common fallacies....

It is commonly thought that an open economy can accommodate output shocks through either exchange rate or real sector adjustments. We formalise this notion by incorporating labour market rigidities into an "escape clause" model of currency crises. We show that the absence of structural reform...

Money, Prices and the Real Economy was first published in 1998, but the analysis in the book is timeless and highly relevant today. The IEA has published a web version particularly for students and scholars. The book can still be purchased from Edward Elgar

Whilst it is impossible to argue that the earth is flat without fearing ridicule, fallacies in economics are widespread. Such fallacies pervade the intellectual sphere and even influence policy. Professor Geoffrey Wood of the University of Buckingham exposes such popular economic fallacies in...