The zero lower bound on nominal interest rates has constrained the Federal Reserve's setting of the overnight federal funds rate for over three years running. According to many macroeconomic models, such an extended period of being stuck at the zero bound has important implications for the...

This article examines the size and significance of labour costs in modern manufacturing industry. Labour costs are doubly salient because wages are both part of the input costs of production and a way of distributing net output. The evidence on British manufacturing shows that labour accounts...

This article questions the stereotypes of Fordism and mass production. It does so by demonstrating that there is a contradiction between the stereotypes and the reality of Henry Ford's manufacturing practice in production of the Model T at the Highland Park factory between 1909 and 1919....

Using alternative measures of term lending rates and counterparty risk and a wide variety of econometric specifications, we find that counterparty risk has a robust significant effect on interest rate spreads in the term inter-bank loan markets. In contrast, we do not find comparably robust...

Empirical applications of structural equation modeling (SEM) typically rest on the assumption that the analysed sample is homogenous with respect to the underlying structural model or that homogenous subsamples have been formed based on a priori knowledge. However, researchers often are ignorant...

Over 95 per cent of Australian cotton producers have attempted to manage price risk at some time, using a range of management strategies. Nearly 60 per cent of Australian cotton producers surveyed in this study stated that price risk management had a positive effect on their farm business....

The article looks at Mervyn Frost's `constitutive' theory of international ethics. Following Hegel, Frost shows how individuals are constituted with moral worth through their position within a society, which Frost extends to include the society of states. He uses this method to tie together a...