maccalm

Publications

How long does economic injustice last?

By David Miles Published in National Institute Economic Review Abstract This article assesses whether economic injustices that took place in the past still have significant implications for the material welfare of...

Currency Areas and Voluntary Transfers

Currency Areas and Voluntary Transfers By Tim Worrall and Pierre M. Picard Published in the Journal of International Economics Abstract: Fiscal integration is recognized as an important issue in determining whether...

House Prices and Growth with Fixed Land Supply

House Prices and Growth with Fixed Land Supply By David Miles and James Sefton Published in The Economics Journal Abstract: We analyse housing costs and patterns of residential development over the long term in a...

Occupational Mobility and the Returns to Training

Occupational Mobility and the Returns to Training By Iourii Manovski, Gueorgui Kambourov, and Miana Plesca. Published in the Canadian Journal of Economics Abstract: The literature on the returns to training has pointed...

A global CO2 price – Necessary and sufficient

A global CO2 price – Necessary and sufficient By John Hassler Published in the Journal of the Finnish Economic Association Abstract: During the last 10 years, I have spent most of my research time on the economics...

Liquidity, Business Cycles, and Monetary Policy

Liquidity, Business Cycles, and Monetary Policy By John Moore and Nobuhiro Kiyotaki Abstract This paper presents a model of a monetary economy where there are differences in liquidity across assets. Money circulates...

Working Papers

Summaries

Liquidity, Business Cycles, and Monetary Policy

Summary This paper derives a model economy in which money and other assets carry different liquidity. The aim of the model is to investigate how economic activity and asset prices depend on changes in productivity and...

Background Papers