发布求助
文献互助 智能选刊 最新文献

The Manchester school of economic and social studies最新文献

筛选
英文 中文
Company Liquidations, Interest Rates and Debt 公司清算，利率和债务
The Manchester school of economic and social studies Pub Date : 2010-09-21 DOI: 10.1111/J.1467-9957.1995.TB01448.X
G. Young
{"title":"Company Liquidations, Interest Rates and Debt","authors":"G. Young","doi":"10.1111/J.1467-9957.1995.TB01448.X","DOIUrl":"https://doi.org/10.1111/J.1467-9957.1995.TB01448.X","url":null,"abstract":"This paper examines the relationship between interest rates and company failure. It argues that the response of insolvencies to changes in interest rates depends on the composition of company debt and whether the change in interest rates is expected or unexpected, real or nominal. It shows that when company debt is at variable interest rates, companies are especially vulnerable to unanticipated changes in real interest rates. Evidence is presented which shows that such changes are a major factor in explaining the aggregate company liquidation rate in England and Wales. Copyright 1995 by Blackwell Publishers Ltd and The Victoria University of Manchester","PeriodicalId":83172,"journal":{"name":"The Manchester school of economic and social studies","volume":"26 1","pages":"57-69"},"PeriodicalIF":0.0,"publicationDate":"2010-09-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84674896","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 27
Credit Quality Spreads, Bond Market Efficiency and Financial Fragility 信用质量价差、债券市场效率和金融脆弱性
The Manchester school of economic and social studies Pub Date : 2010-09-21 DOI: 10.1111/J.1467-9957.1992.TB01459.X
E. Davis
{"title":"Credit Quality Spreads, Bond Market Efficiency and Financial Fragility","authors":"E. Davis","doi":"10.1111/J.1467-9957.1992.TB01459.X","DOIUrl":"https://doi.org/10.1111/J.1467-9957.1992.TB01459.X","url":null,"abstract":"The current usefulness in U.K. monetary policy formulation of corporate-government bond yield differentials is assessed. A large U.S. literature stresses a direct link with expected default risk and, hence, the economic cycle but also notes that such a relationship may be distorted by variations in market segmentation or liquidity. The econometric results show a deterioration in U.K. market performance over time, which may be related to changes in liquidity and market segmentation. These imply that spreads may not be a useful monetary indicator and that risk may be inaccurately priced in the U.K. domestic bond markets. Copyright 1992 by Blackwell Publishers Ltd and The Victoria University of Manchester","PeriodicalId":83172,"journal":{"name":"The Manchester school of economic and social studies","volume":"144 1","pages":"21-46"},"PeriodicalIF":0.0,"publicationDate":"2010-09-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88467421","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 4
Econometric Models of Company Dividends Can Be Used to Identify Underpriced Shares 公司股息的计量经济模型可以用来识别被低估的股票
The Manchester school of economic and social studies Pub Date : 2010-09-21 DOI: 10.1111/J.1467-9957.1995.TB01451.X
G. Bulkley, N. Taylor
{"title":"Econometric Models of Company Dividends Can Be Used to Identify Underpriced Shares","authors":"G. Bulkley, N. Taylor","doi":"10.1111/J.1467-9957.1995.TB01451.X","DOIUrl":"https://doi.org/10.1111/J.1467-9957.1995.TB01451.X","url":null,"abstract":"The authors estimate a price-conditional vector autoregression for individual company dividends and this is used to forecast future dividends. Stocks are then ranked by the ratio of their current price relative to future dividend forecasts. This ranking is shown to forecast returns, using cross-section return regressions, even after controlling for conventional measures of risk. Copyright 1995 by Blackwell Publishers Ltd and The Victoria University of Manchester","PeriodicalId":83172,"journal":{"name":"The Manchester school of economic and social studies","volume":"95 1","pages":"103-111"},"PeriodicalIF":0.0,"publicationDate":"2010-09-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78178918","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
POLICY INTERACTIONS BETWEEN THE OECD COUNTRIES AND LATIN AMERICA IN THE 1980s 经济合作与发展组织国家与拉丁美洲在1980年代的政策互动
The Manchester school of economic and social studies Pub Date : 2010-09-21 DOI: 10.1111/J.1467-9957.1992.TB01458.X
C. Allen, D. Currie, T. G. Srinivasan, D. Vines
{"title":"POLICY INTERACTIONS BETWEEN THE OECD COUNTRIES AND LATIN AMERICA IN THE 1980s","authors":"C. Allen, D. Currie, T. G. Srinivasan, D. Vines","doi":"10.1111/J.1467-9957.1992.TB01458.X","DOIUrl":"https://doi.org/10.1111/J.1467-9957.1992.TB01458.X","url":null,"abstract":"This paper describes a new empirical model of Latin America built to study North-South macroeconomic interactions. Special attention is paid to the supply-side determination of the natural rate of output and to asset accumulation. The model's properties are presented both empirically and by means of analytical representation. The model is used to examine the effects of global shocks on Latin America as simulated by the LBS/NIESR Global Econometric Model (GEM). In particular, the authors assess the relative impact of OECD monetary contraction and lack of fiscal policy coordination on the continent in the 1980s. Coauthors are David Currie, T. G. Srinivasan and David Vines. Copyright 1992 by Blackwell Publishers Ltd and The Victoria University of Manchester","PeriodicalId":83172,"journal":{"name":"The Manchester school of economic and social studies","volume":"32 1","pages":"1-20"},"PeriodicalIF":0.0,"publicationDate":"2010-09-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76003576","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
U.K. STOCK RETURNS: PREDICTABILITY AND BUSINESS CONDITIONS 英国股票回报:可预测性和商业环境
The Manchester school of economic and social studies Pub Date : 2010-09-21 DOI: 10.1111/J.1467-9957.1995.TB01450.X
Angela J. Black, P. Fraser
{"title":"U.K. STOCK RETURNS: PREDICTABILITY AND BUSINESS CONDITIONS","authors":"Angela J. Black, P. Fraser","doi":"10.1111/J.1467-9957.1995.TB01450.X","DOIUrl":"https://doi.org/10.1111/J.1467-9957.1995.TB01450.X","url":null,"abstract":"This paper examines the hypothesis that predictable variation in excess returns can be explained by future business conditions. Using GARCH-M methodology and data on U.K. share returns over the period 1965-92, the authors find that excess returns are able to capture expectations regarding the future state of the economy. Futher, 'news' on future business conditions in the economy would appear to be related to the observed persistence in the conditional variance of excess returns. Copyright 1995 by Blackwell Publishers Ltd and The Victoria University of Manchester","PeriodicalId":83172,"journal":{"name":"The Manchester school of economic and social studies","volume":"1 1","pages":"85-102"},"PeriodicalIF":0.0,"publicationDate":"2010-09-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76340635","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 28
THRESHOLDS IN FINANCIAL DEVELOPMENT AND ECONOMIC GROWTH 金融发展和经济增长的门槛
The Manchester school of economic and social studies Pub Date : 2010-09-21 DOI: 10.1111/J.1467-9957.1995.TB01449.X
J. Berthelemy, Aristomène Varoudakis
{"title":"THRESHOLDS IN FINANCIAL DEVELOPMENT AND ECONOMIC GROWTH","authors":"J. Berthelemy, Aristomène Varoudakis","doi":"10.1111/J.1467-9957.1995.TB01449.X","DOIUrl":"https://doi.org/10.1111/J.1467-9957.1995.TB01449.X","url":null,"abstract":"The purpose of this paper is to assess the existence of threshold effects in economic growth, linked to the development of the banking sector. We, first, discuss the possibility of multiple steady state equilibria doe to reciprocal externalities between the banking sector and the real sector. To check the existence of multiple steady states, associated with both financial development and educational development, we perform stability tests on a 'Barro-type' conditional [beta]-convergence equation. Optimal splits of our ninety-one-country sample are then estimated through a maximum likelihood method. We thus define 'convergence clubs', characterized by educational and banking sector development indicators, which exhibit specific behavior as regards the factors determining long-run growth. Copyright 1995 by Blackwell Publishers Ltd and The Victoria University of Manchester","PeriodicalId":83172,"journal":{"name":"The Manchester school of economic and social studies","volume":"51 3","pages":"70-84"},"PeriodicalIF":0.0,"publicationDate":"2010-09-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72608833","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 25
How To Make Money in the Bond Market: International Evidence of Inefficiency and What It Suggests about the Way Markets View Monetary Policy 如何在债券市场上赚钱:无效率的国际证据及其对市场看待货币政策的方式的启示
The Manchester school of economic and social studies Pub Date : 2010-09-21 DOI: 10.1111/J.1467-9957.1995.TB01446.X
Stephen Wright
{"title":"How To Make Money in the Bond Market: International Evidence of Inefficiency and What It Suggests about the Way Markets View Monetary Policy","authors":"Stephen Wright","doi":"10.1111/J.1467-9957.1995.TB01446.X","DOIUrl":"https://doi.org/10.1111/J.1467-9957.1995.TB01446.X","url":null,"abstract":"M. C. Jensen (1978) describes a market as efficient if it is impossible to make economic profits by trading on the basis of available information. On this criterion, the bond markets of the United States, the United Kingdom, and Germany are all inefficient. Trading rules that switch between bonds and cash on the basis of recursive econometric forecasts of bond price changes are shown to earn rates of return higher than bonds, and comparable to the return on equities, with lower volatility of returns than either. Underlying this inefficiency is an apparent tendency to understate the stabilizing impact of monetary policy. Copyright 1995 by Blackwell Publishers Ltd and The Victoria University of Manchester","PeriodicalId":83172,"journal":{"name":"The Manchester school of economic and social studies","volume":"24 1","pages":"22-39"},"PeriodicalIF":0.0,"publicationDate":"2010-09-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78042712","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
RELIGION AND CAPITALISM 宗教与资本主义
The Manchester school of economic and social studies Pub Date : 2008-07-18 DOI: 10.1111/J.1467-9957.1934.TB01141.X
A. Redford
{"title":"RELIGION AND CAPITALISM","authors":"A. Redford","doi":"10.1111/J.1467-9957.1934.TB01141.X","DOIUrl":"https://doi.org/10.1111/J.1467-9957.1934.TB01141.X","url":null,"abstract":"","PeriodicalId":83172,"journal":{"name":"The Manchester school of economic and social studies","volume":"20 1","pages":"130-134"},"PeriodicalIF":0.0,"publicationDate":"2008-07-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83498122","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The Gender Earnings Gap in Britain: Including the Workplace 英国性别收入差距:包括工作场所
The Manchester school of economic and social studies Pub Date : 2007-10-22 DOI: 10.1111/J.1467-9957.2007.01040.X
K. Mumford, Peter N. Smith
{"title":"The Gender Earnings Gap in Britain: Including the Workplace","authors":"K. Mumford, Peter N. Smith","doi":"10.1111/J.1467-9957.2007.01040.X","DOIUrl":"https://doi.org/10.1111/J.1467-9957.2007.01040.X","url":null,"abstract":"The earnings gap between male and female employees is substantial and lingering. Using linked data for Britain, in this paper we show that an important contribution to this gap is made by the workplace in which the employee works. Evidence for workplace and occupational segregation as partial explanations of the earnings gap is presented. Having allowed also for individual worker characteristics there remains a substantial within-workplace and within-occupation gender gap. The contribution of these factors, as well as the earnings gap itself, differ significantly across sectors of the labour market. The relative unimportance of occupational segregation and the large remaining gender gap suggest that stronger enforcement of equal pay legislation is likely to be the most appropriate policy response. Copyright © 2007 The Authors; Journal compilation © 2007 Blackwell Publishing Ltd and The University of Manchester.","PeriodicalId":83172,"journal":{"name":"The Manchester school of economic and social studies","volume":"26 1 1","pages":"653-672"},"PeriodicalIF":0.0,"publicationDate":"2007-10-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85663722","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 46
SPECIAL ISSUE ON EFFICIENCY ANALYSIS IN FINANCE AND MACROECONOMICS: EDITORS’ INTRODUCTION 金融与宏观经济学效率分析专题:编者简介
The Manchester school of economic and social studies Pub Date : 2006-07-01 DOI: 10.1111/J.1467-9957.2006.00501.X
P. Arestis, G. Chortareas
{"title":"SPECIAL ISSUE ON EFFICIENCY ANALYSIS IN FINANCE AND MACROECONOMICS: EDITORS’ INTRODUCTION","authors":"P. Arestis, G. Chortareas","doi":"10.1111/J.1467-9957.2006.00501.X","DOIUrl":"https://doi.org/10.1111/J.1467-9957.2006.00501.X","url":null,"abstract":"","PeriodicalId":83172,"journal":{"name":"The Manchester school of economic and social studies","volume":"10 1","pages":"415-416"},"PeriodicalIF":0.0,"publicationDate":"2006-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75249975","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
首页 上一页 下一页 尾页
0
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
提示
您的信息不完整，为了账户安全，请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
现在去查看 取消
×
提示
确定
请完成安全验证×
相关产品
×
本文献相关产品
联系我们：info@booksci.cn Book学术提供免费学术资源搜索服务，方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。 Copyright © 2023 布克学术 All rights reserved.
京ICP备2023020795号-1
ghs 京公网安备 11010802042870号
Book学术文献互助
Book学术文献互助群
群 号：481959085
Book学术官方微信