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The Elasticity of Substitution: Evidence from a UK Firm-Level Data Set
Using a panel of UK firms spanning three decades, we provide estimates of the long-run elasticity of substitution between capital and other factors of production, the (negative of the) elasticity ofExpand
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Political Instability and Economic Growth: UK Time Series Evidence
This paper tests for the influence of political instability on UK economic growth between 1961 and 1997. We construct six variables that quantify political instability and examine the effect onExpand
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The Dynamics of Consumers' Expenditure: The UK Consumption Ecm Redux
For solid waste disposal including large bulk items such as crushed car bodies, chesterfields, etc., an incinerator in the form of a rotatable open ended horizontal drum with substantially one-halfExpand
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Aggregate uncertainty, capacity utilization and manufacturing investment
Theory suggests that the level of uncertainty affects the investment decision for firms, although the sigh of the effect is ambiguous. A GARCH-M estimator is used to model the conditional variance ofExpand
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Forecasting Using Bayesian and Information Theoretic Model Averaging: An Application to UK Inflation
In recent years there has been increasing interest in forecasting methods that utilise large data sets, driven partly by the recognition that policymaking institutions need to process largeExpand
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Uncertainty, Investment and Economic Growth: Evidence from a Dynamic Panel
This paper studies the interactions between uncertainty, investment and economic growth. Utilizing panel data for a sample of 59 industrial and developing countries between 1966 and 1992, we estimateExpand
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UK Business Investment and the User Cost of Capital
Theory tells us that output, the capital stock and the user cost of capital are related. From the capital accumulation identity, it also follows that the capital stock and investment have a long-runExpand
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Volatility in the transition markets of Central Europe
This study adds evidence from the four emerging markets of Central Europe relevant to the econometric modelling of financial time series by modelling volatility in these markets. The sample has allExpand
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Adaptive forecasting in the presence of recent and ongoing structural change
TLDR
We consider time series forecasting in the presence of ongoing structural change where both the time series dependence and the nature of the structural change are unknown. Expand
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The Impact of the Financial Crisis on Supply
Output fell sharply in the United Kingdom during the recent global financial crisis, some of which is likely to have reflected a contraction in the economy’s supply capacity. This article considersExpand
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