Manchester School

1930 - 2025

Continuation of The Manchester School of Economic & Social Studies.

Current editor(s): Keith Blackburn

From University of Manchester
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2014, volume 82, articles S1

Liquidity Traps: an Interest-rate-based Exit Strategy pp. 1-14

Stephanie Schmitt-Grohe and Martín Uribe

The Future of the Eurozone pp. 15-34

Paul De Grauwe and Yuemei Ji

Financial Stability and the Role of the Financial Policy Committee pp. 35-43

Roger Farmer

Monetary Policy and Forward Guidance in the UK pp. 44-59

David Miles

Has Weak Lending and Activity in the UK been Driven by Credit Supply Shocks? pp. 60-89

Alina Barnett and Ryland Thomas

Equilibrium Unemployment in a General Equilibrium Model with Taxes pp. 90-128

Keshab Bhattarai and Huw Dixon

2014, volume 82, articles 6

Decentralization, Incentive Contracts and the Effect of Distortions in Performance Measures pp. 631-652

Tigran Melkonyan

Licensing to a More Efficient Rival pp. 653-676

Fridtjof Anderson

Firm Size and Wages in Italy: Evidence from Exogenous Job Displacements pp. 677-700

Vincenzo Scoppa

Third-degree Price Discrimination with Fairness-concerned Consumers pp. 701-715

Tomohisa Okada

Transparency and Risk Sharing in International Trade pp. 716-731

Udo Broll, Bernhard Eckwert and Kit Pong Wong

Sectoral Money Demand Behaviour and the Welfare Cost of Inflation in the UK pp. 732-750

John Ashworth, David Barlow and Lynne Evans

2014, volume 82, articles 5

The Efficiency of Multivariate Macroeconomic Forecasts pp. 509-523

Bruno Deschamps and Christos Ioannidis

Labour Market Effects of Eastern European Migration in Wales pp. 524-548

Sara Lemos

Financial Frictions and Inflation Differentials in a Monetary Union pp. 549-595

Nikolay Hristov, Oliver Hülsewig and Timo Wollmershäuser

Vertically Differentiated Mixed Oligopoly with Quality-dependent Fixed Costs pp. 596-619

Stefan Lutz and Mario Pezzino

Cyclical Activity and Gestation Lags in Investment pp. 620-630

Joanne S. Ercolani

2014, volume 82, articles 4

New Model Introductions, Cannibalization and Market Stealing: Evidence from Shopbot Data pp. 385-408

Michelle Haynes, Steve Thompson and Peter Wright

Exchange Rate and Interest Rate Exposure of UK Industries Using First-order Autoregressive Exponential GARCH-in-mean (EGARCH-M) Approach pp. 409-464

Mojisola Olugbode, Ahmed El-Masry and John Pointon

Efficiency and Mergers in English Higher Education 1996/97 to 2008/9: Parametric and Non-parametric Estimation of the Multi-input Multi-output Distance Function pp. 465-487

Jill Johnes

A Generalized Goodness-of-functional Form Test for Binary and Fractional Regression Models pp. 488-507

Esmeralda Ramalho, Joaquim Ramalho and José M. R. Murteira

2014, volume 82, articles 3

Group Inequality and Conflict pp. 257-283

Indranil Dutta, Paul Madden and Ajit Mishra

Entry, Profit and Welfare under Asymmetric R&D Costs pp. 284-295

Arijit Mukherjee and Achintya Ray

Licensing of a Drastic Innovation with Product Differentiation pp. 296-321

Toker Doganoglu and Firat Inceoglu

Public Sector Capital and the Transition from Dictatorship to Democracy pp. 322-346

Christopher J. Ellis and John Fender

What can we Learn from Bargaining Models about Union Power? The Decline in Union Power in Germany, 1992–2009 pp. 347-362

Boris Hirsch and Claus Schnabel

The Short-term Effectiveness of a Remedial Mathematics Course: Evidence from a UK University pp. 363-384

Giorgio Di Pietro

2014, volume 82, articles 2

Giffen Goods and their Reflexion Property pp. 129-142

P. G. Moffatt and H. K. Moffatt

Network Effects, Spillovers and Market Structure pp. 143-159

Stefan Behringer

Keep your Word: Time-varying Inflation Targets and Inflation Targeting Performance pp. 160-182

Bedri Tas and İshak Demir

Post-secondary School Type and Academic Achievement pp. 183-201

Elena Meschi, Anna Vignoles and Robert Cassen

The Optimal Licensing Policy pp. 202-217

Shuai Niu

Options in Agency with Binary Uncertainty pp. 218-236

Óscar Gutiérrez and Vicente Salas-Fumás

Monetary Policy Reaction Functions in Small Open Economies: a Quantile Regression Approach pp. 237-256

Thanaset Chevapatrakul and Juan Paez-Farrell

2014, volume 82, articles 1

Households' Forming Subjective Expectations Using Perceived News: Do Shocks to ‘Good’ News Matter More Than ‘Bad’ News? pp. 1-16

Joshy Easaw, Atanu Ghoshray and Saeed Heravi

The Influence of Central Bank Transparency on Labor Market Regulation pp. 17-32

Carsten Hefeker and Michael Neugart

Complementary Alliances in Composite Good Markets with Network Structure pp. 33-51

Keisuke Hattori and Ming Hsin Lin

R&D Cooperation with Entry pp. 52-70

Siddhartha Bandyopadhyay and Arijit Mukherjee

A Monte Carlo Simulation Approach to Forecasting Multi-period Value-at-Risk and Expected Shortfall Using the FIGARCH-skT Specification pp. 71-102

Stavros Degiannakis, Pamela Dent and Christos Floros

The Impact of Truancy on Educational Attainment during Compulsory Schooling: a Bivariate Ordered Probit Estimator with Mixed Effects pp. 103-127

Franz Buscha and Anna Conte

2014, volume 82

Increasing Returns to Schooling by Ability? A Comparison between the USA and Sweden pp. 1-20

Martin Nordin and Dan-Olof Rooth

Inflation Targeting and the Consistency of Monetary Policy Decisions in Mexico: an Empirical Analysis with Discrete Choice Models pp. 21-46

Rebeca I. Muñoz Torres and David Shepherd

Breaks in the UK Household Sector Money Demand Function pp. 47-68

Rakesh Bissoondeeal, Michail Karoglou and Andy Mullineux

The Gender Composition of Establishments' Workforces and Gender Gaps in Wages and Leadership Positions pp. 69-81

Christian Pfeifer

Emissions Trading with Non-signatories in a Climate Agreement—an Analysis of Coalition Stability pp. 82-109

Kai Lessmann, Robert Marschinski, Michael Finus, Ulrike Kornek and Ottmar Edenhofer

Peer Group and Distance: When Widening University Participation is Better pp. 110-132

Berardino Cesi and Dimitri Paolini

2013, volume 81, articles 6

JOB CUTS, JOB GUARANTEES AND UNIONS pp. 855-875

Michael White and Alex Bryson

HUMAN CAPITAL, SOCIAL CAPITAL AND SCIENTIFIC RESEARCH IN EUROPE: AN APPLICATION OF LINEAR HIERARCHICAL MODELS pp. 876-903

Mathieu Goudard and Michel Lubrano

ROBUST ESTIMATION FOR THE ORTHOGONAL GARCH MODEL pp. 904-924

Farhat Iqbal

LIQUIDITY RISK, CREDIT RISK AND THE OVERNIGHT INTEREST RATE SPREAD: A STOCHASTIC VOLATILITY MODELLING APPROACH pp. 925-940

John Beirne, Guglielmo Maria Caporale and Nicola Spagnolo

A NOTE ON INFRASTRUCTURE EXPENDITURE, UNCERTAINTY AND GROWTH pp. 941-960

Cruz A. Echevarria

UK FISCAL POLICY SUSTAINABILITY, 1955–2006 pp. 961-991

Jingwen Fan and Michael Arghyrou

MONETARY POLICY RULES AND MACROECONOMIC STABILIZATION IN SMALL OPEN ECONOMIES UNDER BEHAVIORAL FX TRADING: INSIGHTS FROM NUMERICAL SIMULATIONS pp. 992-1011

Christian Proaño

BUSINESS CYCLE PHASES AND COHERENCE—A SPECTRAL ANALYSIS OF UK SECTORAL OUTPUT pp. 1012-1026

Peijie Wang

2013, volume 81, articles 5

Technology Diffusion with Learning Spillovers: Patent Versus Free Access pp. 683-711

Matthieu Glachant and Yann Ménière

PRODUCTIVITY DIFFERENCES AND STRATEGIC PLANT LOCATION pp. 712-729

Alessandra Guariglia, Arijit Mukherjee and Kullapat Suetrong

MIXED DUOPOLY, PRODUCT DIFFERENTIATION AND COMPETITION pp. 730-744

Minoru Kitahara and Toshihiro Matsumura

ON ‘NICE’ AND ‘VERY NICE’ AUTARKIC EQUILIBRIA IN STRATEGIC MARKET GAMES pp. 745-762

Alex Dickson and Roger Hartley

COMPETITIVE PRIVATIZATION AND TARIFF POLICIES IN AN INTERNATIONAL MIXED DUOPOLY pp. 763-779

Sang-Ho Lee, Lili Xu and Zhao Chen

EMISSION PERMITS TRADING AND DOWNSTREAM STRATEGIC MARKET INTERACTION pp. 780-802

Giuseppe De Feo, Joana Resende and María Eugenia Sanin Vázquez

OPTIMAL TWO-PART TARIFF LICENSING CONTRACTS WITH DIFFERENTIATED GOODS AND ENDOGENOUS R&D pp. 803-827

Ramon Faulí-Oller, Xulia González and Joel Sandonis

TACIT COLLUSION WITH LOW-PRICE GUARANTEES pp. 828-854

Qihong Liu

2013, volume 81, articles 4

PRODUCTIVE GOVERNMENT PURCHASES AND THE REAL EXCHANGE RATE pp. 461-469

Parantap Basu and Robert Kollmann

QUANTIFYING THE EUROPEAN CENTRAL BANK'S INTEREST RATE SMOOTHING BEHAVIOR pp. 470-492

Nicolas Pinkwart

PRIVATE AND SOCIAL GAINS IN DELEGATION AND SEQUENTIAL GAMES WITH HETEROGENEOUS FIRMS pp. 493-517

Marcella Scrimitore

ECONOMIC FORECAST QUALITY AND PUBLICATION LAGS pp. 518-549

Nick Taylor

TACIT COLLUSION WITH QUANTITY-MATCHING PUNISHMENTS IN A HOMOGENEOUS MARKET pp. 550-561

Yuanzhu Lu

THE EFFECT OF FINANCIAL DEVELOPMENT ON POVERTY AND INEQUALITY IN AFRICAN COUNTRIES pp. 562-585

Babajide Fowowe and Babatunde Abidoye

TESTING FOR PARAMETER CONSTANCY USING CHEBYSHEV TIME POLYNOMIALS pp. 586-598

Luis Martins

TO MERGE OR TO LICENSE: IMPLICATIONS OF INFORMATION SHARING FOR OPTIMAL MERGER POLICY pp. 599-619

Shiou Shieh, Chi-Fei Huang and Hsiao-Chi Chen

NON-LINEAR PREDICTABILITY IN G7 STOCK INDEX RETURNS pp. 620-637

Kian-Ping Lim and Chee-Wooi Hooy

THE RELATIONSHIP BETWEEN FORMAL EDUCATION AND SKILL ACQUISITION IN YOUNG WORKERS' FIRST JOBS pp. 638-659

Dieter Verhaest and Eddy Omey

DOES BANNING PRICE DISCRIMINATION PROMOTE ENTRY AND INCREASE WELFARE? A MODEL OF DIFFERENTIATED-PRODUCT DUOPOLY WITH ASYMMETRIC MARKETS pp. 660-681

Sílvia Jorge and Cesaltina Pires

2013, volume 81, articles 3

NEGATIVE DEMAND SHOCKS, KNOCK-ON EFFECTS AND EMERGENCY GOVERNMENT BAILOUTS pp. 243-257

Dapeng Cai and Jie Li

BASIC RESEARCH AND DEVELOPMENT IN VERTICAL MARKETS pp. 258-275

Miguel González-Maestre and Luis M. Granero

R&D PRODUCTIVITY AND INTELLECTUAL PROPERTY RIGHTS pp. 276-292

Joanna Poyago-Theotoky and Khemarat Talerngsri Teerasuwannajak

THE DETERMINANTS OF INNOVATION: WHAT IS THE ROLE OF RISK? pp. 293-323

Pierluigi Murro

ON THE SUPERIORITY OF FIXED FEE OVER AUCTION IN TECHNOLOGY LICENSING pp. 324-331

Chun-Hui Miao

PATENT LICENSING IN A LEADERSHIP STRUCTURE: COMMENT pp. 332-339

Hong-Ren Din and Wen-Jung Liang

ENDOGENOUS TIMING OF INCENTIVE CONTRACTS IN MIXED MARKETS UNDER BERTRAND COMPETITION pp. 340-355

Juan Bárcena-Ruiz

THE EXCHANGE RATE, DIVERSIFICATION AND DISTRIBUTION IN A MODIFIED RICARDIAN MODEL WITH A CONTINUUM OF GOODS pp. 356-385

Arslan Razmi

A PANEL ANALYSIS OF THE STOCK RETURN–DIVIDEND YIELD RELATION: PREDICTING RETURNS AND DIVIDEND GROWTH pp. 386-400

David G. McMillan and Mark Wohar

RESALE PRICE MAINTENANCE VERSUS DELEGATION, UNDER ASYMMETRIC INFORMATION pp. 401-419

Tatsuhiko Nariu and Dongjoon Lee

A METHODOLOGICAL CONTRIBUTION TO MEASURING SKILL (MIS)MATCH pp. 420-437

Francesca Sgobbi and Fátima Suleman

GESTATIONAL SURROGACY CONTRACTS: ALTRUISTIC OR COMMERCIAL? A CONTRACT THEORETIC APPROACH pp. 438-460

Swapnendu Banerjee (Bandyopadhyay)

2013, volume 81, articles 2

LOCATION CHOICE AND PATENT LICENSING pp. 121-142

Yan-Shu Lin, Jin-Li Hu and Peng-Chiao Xia

THE IMPACT OF HIGHER EDUCATION INSTITUTION–FIRM KNOWLEDGE LINKS ON ESTABLISHMENT-LEVEL PRODUCTIVITY IN BRITISH REGIONS pp. 143-162

Richard Harris, Qian Li and John Moffat

USING DEMOGRAPHIC CHANGES TO REVISIT THE CONSUMPTION–REAL EXCHANGE RATE ANOMALY pp. 163-175

Shiu-Sheng Chen

COMPETITION AND STABILITY IN EUROPEAN BANKING: A REGIONAL ANALYSIS pp. 176-201

Hong Liu, Philip Molyneux and John Wilson

THE ROLE OF UNCERTAINTY IN THE TRANSMISSION OF MONETARY POLICY EFFECTS ON BANK LENDING pp. 202-225

Christopher Baum, Mustafa Caglayan and Neslihan Ozkan

DECLINE IN US OUTPUT GROWTH VOLATILITY: A WAVELET ANALYSIS pp. 226-242

Iolanda Lo Cascio

2013, volume 81, articles 1

ASSET PRICING WITH INVESTOR SENTIMENT: EVIDENCE FROM CHINESE STOCK MARKETS pp. 1-32

Yihan Xu and Christopher Green

EVALUATING CURRENCY CRISES: A MULTIVARIATE MARKOV REGIME SWITCHING APPROACH pp. 33-57

Kostas Mouratidis, Dimitris Kenourgios, Aris Samitas and Dimitrios Vougas

CAPITAL-ENHANCED EQUILIBRIUM EXCHANGE RATE IN THE PRESENCE OF STRUCTURAL BREAKS: EVIDENCE FROM THE VISEGRAD COUNTRIES pp. 58-79

Minoas Koukouritakis

THE MICRO-FOUNDATIONS OF DUAL ECONOMY MODELS pp. 80-101

Xiaobing Wang and Jenifer Piesse

IS THE CONSUMPTION–INCOME RATIO STATIONARY? EVIDENCE FROM LINEAR AND NON-LINEAR PANEL UNIT ROOT TESTS FOR OECD AND NON-OECD COUNTRIES pp. 102-120

Mario Cerrato, Christian de Peretti and Chris Stewart

2013, volume 81

Editors' Introduction to Special Issue of the Manchester School on Structural Breaks and Monetary Policy pp. 1-2

Alastair Hall, Denise Osborn and Chris Orme

Recapitalization of Failed Banks: Some Lessons from the Irish Experience pp. 1-15

Patrick Honohan

Robust Forecast Methods and Monitoring during Structural Change pp. 3-27

Jana Eklund, George Kapetanios and Simon Price

Monetary Policy after the Crisis pp. 16-34

Stefan Gerlach

EMPLOYMENT AND THE BUSINESS CYCLE pp. 16-42

Marcelle Chauvet and Jeremy Piger

Meta Taylor Rules for the UK and Australia; Accommodating Regime Uncertainty in Monetary Policy Analysis Using Model Averaging Methods pp. 28-53

Kevin Lee, Nilss Olekalns and Kalvinder Shields

Limits of Monetary Policy pp. 35-47

Spencer Dale

ACCOUNTING FOR THE GREAT RECESSION IN THE UK: REAL BUSINESS CYCLES AND FINANCIAL FRICTIONS pp. 43-64

Jagjit Chadha and James Warren

Identification and Inference Using Event Studies pp. 48-65

Refet Gürkaynak and Jonathan Wright

Inference on Structural Breaks using Information Criteria pp. 54-81

Alastair Hall, Denise Osborn and Nikolaos Sakkas

STATUS IN A CANONICAL MACRO MODEL: LABOUR SUPPLY, GROWTH AND INEQUALITY pp. 65-92

Christopher Tsoukis and Frederic Tournemaine

Wage Rigidities in an Estimated Dynamic, Stochastic, General Equilibrium Model of the UK Labour Market pp. 66-99

Renato Faccini, Stephen Millard and Francesco Zanetti

Determinants of the EONIA Spread and the Financial Crisis pp. 82-110

Carla Soares and Paulo Rodrigues

THE CONFLATING EFFECTS OF EDUCATION AND FINANCIAL COMPETITION IN AN OVERLAPPING GENERATIONS-GROWTH MODEL WITH NELSON–PHELPS HUMAN CAPITAL pp. 93-113

Mark A. Roberts

Equity Returns and the Business Cycle: the Role of Supply and Demand Shocks pp. 100-124

Alfonso Mendoza-Velázquez and Peter Smith