Economica
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Interest Rate Pass‐Through and Monetary Transmission: Evidence from Individual Financial Institutions' Retail Rates
Economica - Tập 71 Số 281 - Trang 99-123 - 2004
Official interest rate changes should influence short rates on money market
instruments and retail products, such as deposit accounts and mortgages, but
complete pass‐through is often taken for granted. This paper provides a
theoretical and econometric framework for assessing the evidence for this
assumption using seventeen years of monthly data for rates on thirteen deposit
and mortgage products ...
Modelling British Interest Rate Adjustment: An Error Correction Approach
Economica - Tập 64 Số 254 - Trang 211-231 - 1997
An error correction model is used to capture the dynamics of British retail
deposit and loan rate responses to changes in the central bank’s base rate. The
test is conducted using a monthly series of interest rates for four generic
retail banking products over the period 1986–93. The adjustment process is found
to vary considerably between and within banks and products. The results suggest
that th...
Investment and Uncertainty: Precipitating the Great Depression in the United States
Economica - Tập 73 Số 291 - Trang 393-412 - 2006
A severe collapse of fixed capital formation distinguished the onset of the
Great Depression from other investment downturns between the world wars. Using a
model estimated for the years 1890–2000, we show that the expected profitability
of capital measured by Tobin's q, and the uncertainty surrounding expected
profits indicated by share price volatility, were the chief influences on
investment le...
Being Independent is a Great Thing: Subjective Evaluations of Self‐Employment and Hierarchy
Economica - Tập 75 Số 298 - Trang 362-383 - 2008
One can be independent, or one can be subject to decisions made by others. This
paper argues that this difference, embodied in the institutional distinction
between the decision‐making procedures ‘market’ and ‘hierarchy’, affects
individual wellbeing beyond outcomes. Taking self‐employment as an important
case of independence, it is shown that the self‐employed derive higher
satisfaction from work...
The Race to the Bottom, from the Bottom
Economica - Tập 73 Số 290 - Trang 193-228 - 2006
The dominant perspective in discussions of labour and environmental standards
and globalization is that of North–South competition and its impact on Northern
standards. This paper presents an alternative perspective, that of South–South
competition to export to the North and its impact on Southern standards. It
develops a simple model of Southern competition, and demonstrates that whether a
Southe...
Beef Wholesale-Retail Marketing Margins and Concentration
Economica - Tập 46 Số 183 - Trang 295 - 1979
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