Working papers

The principal purpose of this paper is to adapt to the conditional moment context the GEL unconditional moment methods described in Smith(1997, 2001) and Newey and Smith(2004).

This paper shows that a power utility specification of preferences over total expenditure (ie. CRRA preferences) implies that intratemporal demands are in the PIGL/PIGLOG class.

This paper finds that the relationship between house prices and consumption is stronger for younger than older households, which appears to contradict the wealth channel.

Initially this discussion briefly reviews the contributions of Andrews and Stock and Kitamura.

This paper develops a class of first order equivalent semi-parametric efficient estimators and tests for conditional moment restrictions models based on a local or kernel-weighted version of the Cressie-Read power divergence family of discrepancies.

This paper investigates co-operative research activity by firms using data from the 3rd Community Innovation Survey for four countries, France, Germany, Spain and the UK.

This paper uses the first twelve waves of the British Household Panel Survey covering the period 1991-2002 to investigate single women's labour supply changes in response to three tax and benefit policy reforms that occurred in the 1990s.

This paper considers the impact that technology has on firms' choices over organisational form, in particular whether to produce inhouse or outsource and offshore services, and firms' decision over the location of activity.

This paper uses revealed preference inequalities to provide tight nonparametric bounds on consumer responses to price changes.

This paper examines the empirical analysis of treatment effects on duration outcomes from data that contain instrumental variation.

This paper uses revealed preference inequalities to provide tight nonparametric bounds on consumer responses to price changes.

Current labour force counting relies on general guidelines set by the International Labour Office(ILO) to classify individuals into three labour force states: employment, unemployment and in activity. However, the resulting statistics areknown to be sensitive to slight variations of operational definitions prima facie consistent with the general guidelines. In this paper two alternative classification criteria are considered.

We present empirical evidence which suggests that a big increase in dividend taxation for UK pension funds in July 1997 affected the form in which some UK companies chose to make dividend payments, but otherwise had limited effects on both the level of dividend payments and the level of investment.

This paper presents results from a Monte Carlo study concerning inference with spatially dependent data. It investigates the impact of location/distance measurement errors upon the accuracy of parametric and nonparametric estimators of asymptotic variances.

This paper presents a new estimator for the mixed proportional hazard model that allows for a nonparametric baseline hazard and time-varying regressors. In particular, this paper allows for discrete measurement of the durations as happens often in practice.

This paper examines the effects of work-related training on direct measures of productivity.

Recent theoretical contributions have suggested consumption externalities, or peergroup effects, as a potential explanation for some of the puzzles in macroeconomics and finance.

This paper estimates the marginal efficiency cost of redistribution (MECR) associated with a demogrant and an in-work benefit for the UK since 1979, taking account of extensive as well as intensive labour supply responses.

This paper considers structural nonparametric random utility models for continuous choice variables.

This paper provides a detailed analysis of individuals in households in England aged between 50 and the State Pension Age in terms of their private pension arrangements and current non-pension assets alongside their expectations of future economic circumstances.