The Manchester School VOLUME 67 1999 Managing Editor: Chris Orme Editors: Martyn Andrews, Keith Blackburn and Eyal Winter Associate Editors: Mike Artis, Robin Bladen-Hovell, Richard Cornes, David Greenaway, Hans Haller, Paul Madden, Keith McLaren, Frederick Nixson, Denise Osborn, Christian Schultz, Alan Sutherland, David Young Book Review Editor: Terry Peach Editorial Assistant: Marcia Wall CONTENTS Page No.1 January 1999 UNEMPLOYMENT AMONG BRITAIN’S ETHNIC Davip BLACKABY MINORITIES DEREK LESLIE PHILIP MURPHY NiGet O’ LEARY EUROPEAN CAPITAL FLOWS AND REGIONAL TAMIM BAYOUMI RISK Oe Lucio SARNO MarK P. TAYLOR TESTS FOR STOCHASTIC SEASONALITY APPLIED I. C. ANDRADE TO DAILY FINANCIAL TIME SERIES A. D. CLARE R. J. O'BRIEN S. H. THomas MODELLING TRADED, NON-TRADED AND AG- GREGATE INFLATION IN A SMALL OPEN GEOFF KENNY ECONOMY: THE CASE OF IRELAND : DoONAL MCGETTIGAN THE ROLE OF FINANCIAL SPREADS IN MACRO- ECONOMIC FORECASTING: EVIDENCE FOR NICHOLAS SARANTIS THE UK Sarat SHARON X. LIN GROWTH AND STABILITY IN A MODEIL WITH PASINETTIAN SAVING BEHAVIOUR AND JOAO RICARDO FARIA NEOCLASSICAL TECHNOLOGY JOANILIO R. TEIXEIRA BOOK REVIEWS OTHER BOOKS RECEIVED .. © Blackwell Publishers Ltd and The Victoria University of Manchester, 1999 Published by Blackwell Publishers Lid, 108 Cowley Road, Oxf ord OX4 LIF, UK, and 350 Main Street Malden, MA 02148, USA 738 The Manchester School VOLUME 67 1999 Managing Editor: Chris Orme Editors: Martyn Andrews, Keith Blackburn and Eyal Winter Associate Editors: Mike Artis, Robin Bladen-Hovell, Richard Cornes, David Greenaway, Hans Haller, Paul Madden, Keith McLaren, Frederick Nixson, Denise Osborn, Christian Schultz, Alan Sutherland, David Young Book Review Editor: Terry Peach Editorial Assistant: Marcia Wall CONTENTS Page No.1 January 1999 UNEMPLOYMENT AMONG BRITAIN’S ETHNIC Davip BLACKABY MINORITIES DEREK LESLIE PHILIP MURPHY NiGet O’ LEARY EUROPEAN CAPITAL FLOWS AND REGIONAL TAMIM BAYOUMI RISK Oe Lucio SARNO MarK P. TAYLOR TESTS FOR STOCHASTIC SEASONALITY APPLIED I. C. ANDRADE TO DAILY FINANCIAL TIME SERIES A. D. CLARE R. J. O'BRIEN S. H. THomas MODELLING TRADED, NON-TRADED AND AG- GREGATE INFLATION IN A SMALL OPEN GEOFF KENNY ECONOMY: THE CASE OF IRELAND : DoONAL MCGETTIGAN THE ROLE OF FINANCIAL SPREADS IN MACRO- ECONOMIC FORECASTING: EVIDENCE FOR NICHOLAS SARANTIS THE UK Sarat SHARON X. LIN GROWTH AND STABILITY IN A MODEIL WITH PASINETTIAN SAVING BEHAVIOUR AND JOAO RICARDO FARIA NEOCLASSICAL TECHNOLOGY JOANILIO R. TEIXEIRA BOOK REVIEWS OTHER BOOKS RECEIVED .. © Blackwell Publishers Ltd and The Victoria University of Manchester, 1999 Published by Blackwell Publishers Lid, 108 Cowley Road, Oxf ord OX4 LIF, UK, and 350 Main Street Malden, MA 02148, USA 738 No.2 March 1999 CURRENCY SUBSTITUTION: A THEORETICAL AND EMPIRICAL ANALYSIS FOR GERMANY FRANZ SEITZ AND EUROPE HANS-EGGERT REIMERS THE DEMAND FOR MONEY IN MEXICO KEITH CUTHBERTSON Luis GALINDO TESTS OF NON-LINEARITY USING LIFFE O. AP GwiLym FUTURES TRANSACTIONS PRICE DATA C. Brooks A. CLARE S. THOMAS THE GEOMETRY OF LIFE ANNUITIES GEOFFREY KINGSTON JOHN PIGGOTT THE RISE AND FALL OF WALRAS’S DEMAND AND SUPPLY CURVES ... JOHN CREEDY SCHOOL PERFORMANCE AND STAYING ON: A MICRO ANALYSIS FOR NORTHERN IRE- LAND . . : eer ae : Davip M. ARMSTRONG 2 MEASURING TECHNICAL EFFICIENCY IN AUS- TRALIAN CREDIT UNIONS . ANDREW C. WoRTHINGTON BOOK REVIEWS OTHER BOOKS RECEIVED . No.3 June 1999 DETECTING SEASONAL UNIT ROOTS: AN AP- PROACH BASED ON THE SAMPLE AUTOCOR- A. M. Ropert TAYLOR RELATION FUNCTION STEPHEN J. LEYBOURNE 2 TESTING FOR PURCHASING POWER PARITY: ECONOMETRIC ISSUES AND AN APPLICA- Derick Boyp TION TO DEVELOPING COUNTRIES RON SMITH IDENTIFYING THE EFFECTS OF NOMINAL AND REAL SHOCKS ON THE S&P 500 STOCK PRICE INDEX DIMITRIOS MALLIAROPULOS THE ITALIAN FINANCIAL SYSTEM: NEITHER Davip COBHAM BANK BASED NOR MARKET BASED STEFANIA COSCI FABRIZIO MATTESINI REDUNDANCY PAY, UNIONS AND EMPLOY- ALISON L. BooTH MENT ANDREW MCCULLOCH : STABILITY OF PRODUCTION PRICES: A MODIFI- CATION TO THE FULL-COST APPROACH KIRILL BorRISSOV BOOK REVIEWS © Blackwell Publishers Ltd and The Victoria University of Manchester, 1999 740 No.4 September 1999 CONSUMPTION AND WEALTH AN INTER- J. A. SEFTON NATIONAL COMPARISON J. W. In’T VELD TRADE POLICIES AND EQUILIBRIUM UNEM- RAVI BATRA PLOYMENT HAMID BELADI COMMON TRENDS AND CYCLES IN EUROPEAN INDUSTRIAL PRODUCTION: EXCHANGE RATE REGIMES AND ECONOMIC CONVER- TERENCE C. MILLS GENCE . MarkK J. HOLMES ON THE ROLE OF SECTOR SIZE IN DETERMINING GIANLUCA FEMMINIS THE TRANSITION PATH LuIGt RUGGERONE A MEMOIR ON THE LIFE OF HAROLD THAYER DAVIS (1892-1974) . RICHARD W. FAREBROTHER BOOK REVIEWS No.5 Special Issue 1999 INTRODUCTION FREDERICK I. NIxsON BERNARD WALTERS RESPONDING TO ECONOMIC CRISES: POLICY ALTERNATIVES FOR EQUITABLE RECOVERY AND DEVELOPMENT JOSEPH STIGLITZ THE MACROECONOMICS OF THE EAST ASIAN CRISIS AND THE IMPLICATIONS OF THE CRISIS FOR MACROECONOMIC THEORY JosePpH Y. Lim CONTAGION AND THE ASIAN CURRENCY RENATO E. REsIDE JR CRISIS M. S. Gocuoco-BAUTISTA THE EAST ASIAN MODEL AND THE CURRENCY CRISIS: CREDIT POLICY AND MUNDELL FLEMING FLOWS RAUL V. FABELLA THE ASIAN_ CRISIS: CAUSES AND _ CONSE- FREDERICK I. NIxsON QUENCES BERNARD WALTERS No.6 December 1999 DOES INTEREST RATE VOLATILITY AFFECT THE US Ml DEMAND FUNCTION? EVIDENCE FROM COINTEGRATION TAUFIQ CHOUDHRY COMMON STOCHASTIC TRENDS IN EMERGING IAN GARRETT MARKETS Spyros SPYROU OWNER-OCCUPATION AT THE MARGIN? TENURE CHOICE AMONG PUBLIC SECTOR ROBERT MCNABB TENANTS SINCE 1980 Victoria Wass BEING KEYNESIAN IN THE SHORT TERM AND CLASSICAL IN THE LONG TERM: THE TRAVERSE TO CLASSICAL LONG-TERM EQUI- GERARD DUMENIL LIBRIUM DOMINIQUE LEVY BOOK REVIEWS OTHER BOOKS RECEIVED ... INDEX > Blackwell Publishers Ltd and The Victoria University of Manchester, 1999