Discussion Papers
in Economics
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of Economics
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ISSN 1749-5075
DP 03/09 ASSESSING FISCAL SUSTAINABILITY SUBJECT TO POLICY CHANGES: A MARKOV SWITCHING COINTEGRATION APPROACH By Vasco Gabriel (University of Surrey) & Pataaree Sangduan (Bureau of the Budget, Thailand)
DP 02/09 MILITARY EXPENDITURE AND ECONOMIC GROWTH LITERATURE: A META-ANALYSIS By Aynur Alptekin (University of Surrey)
DP 01/09 CONFLICT, GROWTH AND WELFARE: CAN INCREASING PROPERTY RIGHTS REALLY BE COUNTERPRODUCTIVE? By Aynur Alptekin (University of Surrey) & Paul Levine (University of Surrey)
DP 10/08 IS THERE A TRADE-OFF BETWEEN REGIONAL GROWTH AND NATIONAL INCOME? THEORY AND EVIDENCE FROM THE EU By Young-Bae Kim (University of Surrey)
DP 09/08 HAPPINESS INERTIA: ANALYTICAL ASPECTS OF THE EASTERLIN PARADOX By Ali Choudhary (University of Surrey and State Bank of Pakistan), Paul Levine (University of Surrey), Peter McAdam (European Central Bank and University of Surrey) & Peter Welz (Sveriges Riksbank)
DP 08/08 NEURAL NETWORK MODELS FOR INFLATION FORECASTING: AN APPRAISAL By Ali Choudhary (University of Surrey and State Bank of Pakistan) & Adnan Haider (State Bank of Pakistan)
DP 07/08 ENTREPRENEURSHIP, SPILLOVERS AND PRODUCTIVITY GROWTH IN THE SMALL FIRM SECTOR OF UK MANUFACTURING By Hany El Shamy (University of Surrey) & Paul Temple (University of Surrey)
DP 06/08 TAYLOR-TYPE RULES VERSUS OPTIMAL POLICY IN A MARKOV-SWITCHING ECONOMY By Fernando Alexandre (NIPE and University of Minho) Pedro Bação (GEMF and University of Coimbra) & Vasco Gabriel (University of Surrey)
DP 05/08 HOW FORWARD-LOOKING IS THE FED? DIRECT ESTIMATES FROM A 'CALVO-TYPE' RULE By Vasco Gabriel (University of Surrey), Paul Levine (University of Surrey) & Christopher Spencer (University of Surrey)
DP 04/08 ON THE (IR)RELEVANCE OF DIRECT SUPPLY-SIDE EFFECTS OF MONETARY POLICY By Vasco Gabriel (University of Surrey), Paul Levine (University of Surrey), Christopher Spencer (University of Surrey) & Bo Yang (University of Surrey)
DP 03/08 PANIC ON THE STREETS OF LONDON: POLICE, CRIME AND THE JULY 2005 TERROR ATTACKS By Mirko Draca (University College London), Stephen Machin (University College London) & Robert Witt (University of Surrey)
DP 02/08 ROBUST INFLATION-TARGETING RULES AND THE GAINS FROM INTERNATIONAL POLICY COORDINATION By Paul Levine (University of Surrey), Joseph Pearlman (London Metropolitan University) and Peter Welz (Sveriges Riksbank)
DP 01/08 DETERMINING CONSTITUENCY MARGINALITY IN THE UK USING THE EXPENSE CLAIMS OF MPS By Tim Bale (University of Sussex), Barry Reilly (University of Sussex) & Robert Witt (University of Surrey)
DP 19/07 THE DETERMINANTS OF BASE PAY AND THE ROLE OF RACE IN MAJOR LEAGUE SOCCER: EVIDENCE FROM THE 2007 LEAGUE SEASON By Barry Reilly (University of Sussex) & Robert Witt (University of Surrey)
DP 18/07 THE CREDIBILITY PROBLEM REVISITED: THIRTY YEARS ON FROM KYDLAND AND PRESCOTT By Paul Levine (University of Surrey), Joseph Pearlman (London Metropolitan University) and Bo Yang (University of Surrey)
DP 17/07 FISCAL POLICY IN A MONETARY UNION: CAN FISCAL COOPERATION BE COUNTERPRODUCTIVE? By Luisa Lambertini (Claremont McKenna College, Ecole Polytechnique Federale de Lausanne, University of Surrey), Paul Levine (University of Surrey) and Joseph Pearlman (London Metropolitan University)
DP 16/07 ESTIMATING DSGE MODELS UNDER PARTIAL INFORMATION By Paul Levine (University of Surrey), Joseph Pearlman (London Metropolitan University) and George Perendia (London Metropolitan University)
DP 15/07 GROWTH AND WELFARE EFFECTS OF EAST-WEST EUROPEAN MIGRATION By Paul Levine (University of Surrey), Emanuela Lotti (University of Surrey), Joseph Pearlman (London Metropolitan University) and Richard Pierse (University of Surrey)
DP 14/07 WHAT MACROECONOMIC CONDIDTIONS BEST EXPLAIN SOUTHEAST ASIAN CAPITAL FLOWS? By Alex Mandilaras (University of Surrey) & Helen Popper (University of Santa Clara)
DP 13/07 FOREIGN EXCHANGE PRESSURES IN LATIN AMERICA: DOES DEBT MATTER? By Graham Bird (University of Surrey) & Alex Mandilaras (University of Surrey)
DP 12/07 REVISITING MRS. MACHLUP’S WARDROBE: THE ACCUMULATION OF INTERNATIONAL RESERVES, 1992-2001 By Graham Bird (University of Surrey) & Alex Mandilaras (University of Surrey)
DP 11/07 CHANNEL TRADING AND IMPERFECT COMPETITION: GOOD TRADES AND BAD TRADES By Paul Levine (University of Surrey) & Neil Rickman (University of Surrey and CEPR)
DP 10/07 OPTIMAL ADMINISTERED INCENTIVE PRICING OF SPECTRUM By Paul Levine (University of Surrey) & Neil Rickman (University of Surrey and CEPR)
DP 09/07 MONETARY POLICY COORDINATION REVISITED IN A TWO-BLOC DSGE MODEL By Paul Levine (University of Surrey), Joseph Pearlman (London Metropolitan University) & Richard Pierse (University of Surrey)
DP 08/07 MONETARY RULES IN EMERGING ECONOMIES WITH FINANCIAL MARKET IMPERFECTIONS By Nicoletta Batini (International Monetary Fund), Paul Levine (University of Surrey) & Joseph Pearlman (London Metropolitan University)
DP 07/07 ROBUST MONETARY RULES UNDER UNSTRUCTURED AND STRUCTURED MODEL UNCERTAINTY By Paul Levine (University of Surrey) & Joseph Pearlman (London Metropolitan University)
DP 06/07 SPECTRUM PROPERTY RIGHTS VERSUS A COMMONS MODEL: EXPLOITATION OF MESH NETWORKS By Paul Levine (University of Surrey), Klaus Moessner (University of Surrey) & Neil Rickman (University of Surrey and CEPR)
DP 05/07 ANGLO-DUTCH, SPLIT-AWARD SPECTRUM AUCTIONS WITH A DOWNSTREAM MARKET By Parimal Bag (University of Surrey), Paul Levine (University of Surrey) & Neil Rickman (University of Surrey and CEPR)
DP 04/07 THE IMF: A BIRD'S EYE VIEW OF ITS ROLE AND OPERATIONS By Graham Bird (SCIES, University of Surrey)
DP 03/07 ACCOUNTING FOR INTERGENERATIONAL INCOME PERSISTENCE: NONCOGNITIVE SKILLS, ABILITY AND EDUCATION By Jo Blanden (University of Surrey & CEP), Paul Gregg (University of Bristol & CEP) & Lindsey MacMillan (CMPO, University of Bristol)
DP 02/07 THE IMF'S ROLE IN MOBILIZING PRIVATE CAPITAL FLOWS: ARE THERE GROUNDS FOR CATALYTIC CONVERSION? By Graham Bird (SCIES, University of Surrey) & Dane Rowlands (The Norman Paterson School of International Affairs, Carleton University)
DP 01/07 THE ANALYSIS OF CATALYSIS: IMF PROGRAMS AND PRIVATE CAPITAL FLOWS By Graham Bird (SCIES, University of Surrey) & Dane Rowlands (The Norman Paterson School of International Affairs, Carleton University)
DP 20/06 LOBBIES, DELEGATION AND THE UNDER-INVESTMENT PROBLEM IN REGULATION By Joanne Evans (University of Surrey), Paul Levine (University of Surrey) and Fransesc Trillas (Universitat Autonoma de Barcelona)
DP 19/06 LABOUR MARKET AND INVESTMENT EFECTS OF REMITTANCES By Stephen Drinkwater (University of Surrey), Paul Levine (University of Surrey) and Emanuela Lotti (University of Surrey)
DP 18/06 WHAT DETERMINES THE IMPLEMENTATION OF IMF PROGRAMS? By Ozlem Arpac (SCIES, University of Surrey), Graham Bird (SCIES, University of Surrey) & Alex Mandilaras (SCIES, University of Surrey)
DP 17/06 POLES APART? EU ENLARGEMENT AND THE LABOUR MARKET OUTCOMES OF IMMIGRANTS IN THE UK By Stephen Drinkwater (University of Surrey & IZA Bonn), John Eade (CRONEM, University of Surrey) & Michal Garapich (CRONEM, University of Surrey)
DP 16/06 EXPLAINING IMF ARRANGEMENTS: WAS ASIA DIFFERENT? By Graham Bird (SCIES, University of Surrey) & Dane Rowlands (Norman Paterson School of International Affairs, Carleton University)
DP 15/06 THE IMPLEMENTATION OF IMF PROGRAMS: A CONCEPTUAL FRAMEWORK By Graham Bird (University of Surrey)
DP 14/06 MEASUREMENT, TECHNOLOGICAL CAPABILITY, AND INTRA-INDUSTRY TRADE: EVIDENCE FROM THE EU By M. Ali Choudhary (University of Surrey), Paul Temple (University of Surrey) & Lei Zhao (University of Surrey)
DP 13/06 MIND THE GAP: A COMMENT ON AGGREGATE PRODUCTIVITY AND TECHNOLOGY By M. Ali Choudhary (University of Surrey) & Vasco J. Gabriel (University of Surrey & NIPE-UM)
DP 12/06 DYNAMICS AND DIVERSITY: ETHNIC EMPLOYMENT DIFFERENCES IN ENGLAND AND WALES, 1991 - 2001 By Kenneth Clark (University of Manchester & IZA, Bonn) & Stephen Drinkwater (University of Surrey & IZA, Bonn)
DP 11/06 THE DYNAMIC WAGE BARGAINING PROBLEM By Renuka Metcalfe (University of Swansea)
DP 10/06 TERMINAL CONDITIONS IN FORWARD-LOOKING ECONOMIC MODELS By Richard G. Pierse (University of Surrey)
DP 09/06 OPTIMAL CONTROL IN NONLINEAR MODELS: A GENERALISED GAUSS-NEWTON ALGORITHM WITH ANALYTIC DERIVATIVES By Richard G. Pierse (University of Surrey)
DP 08/06 CENTRAL BANK INDEPENDENCE AND THE "FREE LUNCH PUZZLE": A NEW PERSPECTIVE By Ali al-Nowaihi (University of Leicester), Paul Levine (University of Surrey) & Alex Mandilaras (University of Surrey)
DP 07/06 NECESSARY AND SUFFICIENT CONDITIONS FOR LATENT SEPARABILITY By Ian A. Crawford (University of Surrey)
DP 06/06 REACTION FUNCTIONS OF BANK OF ENGLAND MPC MEMBERS: INSIDERS VERSUS OUTSIDERS By Christopher Spencer (University of Surrey)
DP 05/06 THE 24/7 SOCIETY AND MULTIPLE HABITS By Ali Choudhary (University of Surrey) & Paul Levine (University of Surrey)
DP 04/06 PUBLIC DEBT MATURITY AND CURRENCY CRISES By Paul Levine (University of Surrey) Alexandros Mandilaras (University of Surrey) & Jun Wang (University of Surrey)
DP 03/06 THE DISSENT VOTING BEHAVIOUR OF BANK OF ENGLAND MPC MEMBERS By Christopher Spencer (University of Surrey)
DP 02/06 ROBUST ESTIMATES OF THE NEW KEYNESIAN PHILLIPS CURVE By Luis F. Martins (Department of Quantitative Methods, ISCTE, Portugal) & Vasco J. Gabriel (University of Surrey and NIPE-UM)
DP 01/06 PRICE REGULATION AND THE COMMITMENT PROBLEM: CAN LIMITED CAPTURE BE BENEFICIAL? By Paul Levine (University of Surrey), Neil Rickman (University of Surrey) & Francesc Trillas (Universitat Autonoma de Barcelona)
DP 17/05 A NOTE ON: JURY SIZE AND THE FREE RIDER PROBLEM By Parimal Kanti Bag (University of Surrey), Paul Levine (University of Surrey) & Christopher Spencer (University of Surrey)
DP 16/05 THE HAZARD OF BEING AN ENGLISH FOOTBALL LEAGUE MANAGER: EMPIRICAL ESTIMATES FROM THE 2002/3 SEASON By Ray Bachan (University of Brighton), Barry Reilly (University of Sussex) & Robert Witt (University of Surrey)
DP 15/05 CONSENSUS FORMATION IN MONETARY POLICY COMMITTEES By Christopher Spencer (University of Surrey)
DP 14/05 ON THE STABILITY OF THE WEALTH EFFECT By Fernando Alexandre (Department of Economics and NIPE, University of Minho, Portugal) Pedro Bagco (Faculty of Economics and GEMF, University of Coimbra, Portugal) & Vasco J. Gabriel (University of Surrey and NIPE)
DP 13/05 IMF QUOTAS: CONSTRUCTING AN INTERNATIONAL ORGANIZATION USING INFERIOR BUILDING BLOCKS By Graham Bird (University of Surrey) & Dane Rowlands (The Norman Paterson School of International Affairs, Carleton University)
DP 12/05 A NONPARAMETRIC TEST OF STOCHASTIC DOMINANCE IN MULTIVARIATE DISTRIBUTIONS By Ian Crawford (University of Surrey & IFS)
DP 11/05 THE IMF AND THE MOBILIZATION OF FOREIGN AID By Graham Bird (University of Surrey) & Dane Rowlands (The Norman Paterson School of International Affairs, Carleton University)
DP 10/05 IDENTIFYING EXTERNALITIES IN UK MANUFACTURING USING DIRECT ESTIMATION OF AN AVERAGE COST FUNCTION By Ciaran Driver (Imperial College Business School, London), Paul Temple (University of Surrey) & Giovanni Urga (Cass Business School)
DP 09/05 SHOULD IT BE CURTAINS FOR SOME OF THE IMF'S LENDING WINDOWS? By Graham Bird (University of Surrey) & Dane Rowlands (Norman Paterson School of International Affairs, Carleton University)
DP 08/05 CONTRASTS BETWEEN CLASSES OF ASSETS IN FIXED INVESTMENT EQUATIONS AS A WAY OF TESTING REAL OPTION THEORY By Ciaran Driver (Tanaka Business School, Imperial College London), Paul Temple (University of Surrey) & Giovanni Urga (Cass Business School)
DP 07/05 BI-POLAR DISORDER: EXCHANGE RATE REGIMES,ECONOMIC CRISES AND THE IMF By Graham Bird (University of Surrey) & Dane Rowlands (Norman Paterson School of International Affairs,Carleton University)
DP 06/05 THE VIABILITY OF ECONOMIC REFORM PROGRAMS SUPPORTED BY THE INTERNATIONAL FINANCIAL INSTITUTIONS By Graham Bird (University of Surrey), Wolfgang Mayer (University of Cincinnati) & Alex Mourmouras (IMF)
DP 05/05 OVER-OPTIMISM AND THE IMF By Graham Bird (University of Surrey)
DP 04/05 EXPLAINING THE DIVERSITY OF INDUSTRY INVESTMENT RESPONSES TO UNCERTAINTY USING LONG RUN PANEL SURVEY DATA By Ciaran Driver (Tanaka Business School, Imperial College London), Paul Temple (University of Surrey) & Giovanni Urga (Cass Business School, London)
DP 03/05 REVEALED PREFERENCE ANALYSIS OF CHARACTERISTICS MODELS By Laura Blow (Institute for Fiscal Studies) Martin Browning (University of Copenhagen) & Ian Crawford (University of Surrey & IFS)
DP 02/05 BENEFICIAL COLLUSION IN CORRUPTION CONTROL: THE CASE OF NONMONETARY PENALTIES By Mehmet Bac (Sabanci University) & Parimal Kanti Bag (University of Surey)
DP 01/05 FAVOURITISM AND FINANCIAL INCENTIVES: A NATURAL EXPERIMENT By Neil Rickman (University of Surrey and CEPR) & Robert Witt (University of Surrey)
DP 11/04 EVERYONE'S A WINNER? UNION EFFECTS ON PERSISTENCE IN PRIVATE SECTOR WAGE SETTLEMENTS: LONGITUDINAL EVIDENCE FROM BRITAIN By Donna Brown (Royal Holloway), Peter Ingram (University of Surrey) & Jonathan Wadsworth (Royal Holloway and CEP)
DP 10/04 INSTITUTIONS AND LONG-RUN GROWTH IN THE UK: THE ROLE OF STANDARDS By Paul Temple (University of Surrey), Robert Witt (University of Surrey) & Chris Spencer (University of Surrey)
DP 09/04 STRATEGIC PROCUREMENT, OPENNESS AND MARKET STRUCTURE By Maria Garcia-Alonso (University of Kent) & Paul Levine (University of Surrey)
DP 08/04 ROBUST INFLATION-FORECAST-BASED RULES TO SHIELD AGAINST INDETERMINACY By Nicoletta Batini (International Monetary Fund), Alejandro Justiniano (International Monetary Fund), Paul Levine (University of Surrey) & Joseph Pearlman (London Metropolitan University)
DP 07/04 CAN RICK AVERSION IN FIRMS REDUCE UNEMPLOYMENT PERSISTENCE? By Ali Choudhary (University of Surrey) & Paul Levine (University of Surrey)
DP 06/04 MIGRATION AND LABOUR MARKET DIFFERENCES: THE CASE OF WALES By Stephen Drinkwater (University of Surrey) & David Blackaby (University of Swansea)
DP 05/04 THE TRANSITION FROM WELFARE TO WORK By Robert J. Lemke (Lake Forest College, Robert J. Witt (University of Surrey) & Ann Dryden Witte (Wellesley College and NBER)
DP 04/04 CONNECTING PEOPLE By M. Ali Choudhary (University of Surey)
DP 03/04 LIABILITY, INSURANCE AND DEFENSIVE MEDICINE: NEW EVIDENCE By Paul Fenn (Nottingham University Business School), Alastair Gray (Health Economics Research Centre, University of Oxford) & Neil Rickman (University of Surrey and CEPR)
DP 02/04 INDETERMINACY WITH INFLATION-FORECAST-BASED RULES IN A TWO-BLOC MODEL By Nicoletta Batini (IMF), Paul Levine (Universiy of Surrey) & Joseph Pearlman (London Metropolitan University)
DP 01/04 SHAREHOLDER VALUE OR COMPETITIVE ADVANTAGE? EVIDENCE FROM HURDLE RATES By Ciaran Driver (Tanaka Business School, Imperial College) & Paul Temple (University of Surrey)
DP 12/03 ESTIMATING THE WILLINGNESS TO MOVE WITHIN GREAT BRITAIN: IMPORTANCE AND IMPLICATIONS By Stephen Drinkwater (University of Surrey)
DP 11/03 ARE PERFORMANCE CONDITIONS ON EXECUTIVE OPTIONS DRIVEN BY FUNDAMENTALS By M. Ali Choudhary (University of Surrey) & J. Michael Orszag (Watson Wyatt)
DP 10/03 THE IMPLEMENTATION OF IMF PROGRAMMES: A CONCEPTUAL FRAMEWORK AND A POLICY AGENDA By Graham Bird (University of Surrey)
DP 09/03 HAVE INDUSTRIAL RELATIONS IN THE UK REALLY IMPROVED? By Stephen Drinkwater (University of Surrey) and Peter Ingram (University of Surrey)
DP 08/03 PAY SETTLEMENTS AND NOMINAL WAGE RIGIDITY IN BRITAIN By Donna Brown (Royal Holloway), Peter Ingram (University of Surrey) & Jonathan Wadsworth (Royal Holloway and CEP)
DP 07/03 DETERMINANTS OF EMPLOYEE CRIME IN THE UK By Neil Rickman (University of Surrey and CEPR) & Robert Witt (University of Surrey)
DP 06/03 PRICE REGULATION, INVESTMENT AND THE COMMITMENT PROBLEM By Neil Rickman (University of Surrey and CEPR) & Paul Levine (University of Surrey)
DP 05/03 GO WEST? ASSESSING THE WILLINGNESS TO MOVE FROM CENTRAL AND EASTERN EUROPEAN COUNTRIES By Stephen Drinkwater (University of Surrey)
DP 04/03 INDEPENDENT UTILITY REGULATORS: LESSONS FROM MONETARY POLICY By Paul Levine (University of Surrey and LBS), Jon Stern (LBS and NERA) & Francesc Trillas (Universitat Autonoma de Barcelona and LBS)
DP 03/03 SELF-STABILIZING FIRMS AND UNEMPLOYMENT PERSISTENCE By Ali Choudhary (University of Surrey) & Paul Levine (University of Surrey)
DP 02/03 THE IMMIGRATION SURPLUS REVISITED IN A GENERAL EQUILIBRIUM MODEL WITH ENDOGENOUS GROWTH By Paul Levine (University of Surrey), Emanuela Lotti (University of Surrey) & Joseph Pearlman (London Metropolitan University)
DP 01/03 THE ECONOMIC IMPACT OF MIGRATION: A SURVEY By Stephen Drinkwater (University of Surrey), Paul Levine (University of Surrey), Emanuela Lotti (University of Surey) & Joseph Pearlman (London Guildhall University)