The bullionist controversy: an empirical reappraisal

Article Abstract:

Modern econometric methods are applied to several 'important propositions central to the Bullionist controversy' in the UK during the period of inflation from 1793 to 1816 and the period of depression between 1816 and 1850. The controversy, which concerns the depression that followed the return to the gold standard in May 1821, refers to two opposing views on the relationship of currency, prices and exchange rates that were articulated by leading economists of the time. According to cointegration, exogeneity and causality tests on time-series data, the anti-Bullionist position is the valid one for the economic conditions of the 19th century.

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Modelling the demand for M4 in the U.K

Article Abstract:

Effects of interest rates and inflation on the behavior of broad money (M4) are more significant than the effects of financial innovation. The study finds M4 has a single identifiable long-run demand function. It supports the previous studies which found importance of wealth in long-term M4 demand. An interest rate effect on M4 demand was also found.

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Public-private sector wage differential in the U.K

Article Abstract:

Analysis of General Household Survey samples for 1983, 1985 and 1987 reveals that male public sector employees earned 10% more average hourly wages than their private sector counterparts. Female employees in the public sector received 25% more wages than those in the private sector.

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