In Search of a theory of debt management (2008)
Marcet, Albert, Faraglia, Elisa, Scott, Andrew
A growing literature integrates theories of debt management into models of optimal fiscal policy. One promising theory argues that the composition of government debt should be chosen so that...
Fiscal insurance and debt management in OECD economies (2007)
Marcet, Albert, Faraglia, Elisa, Scott, Andrew
Assuming the role of debt management is to provide hedging against fiscal shocks we consider three questions: i) what indicators can be used to assess the performance of debt management? ii) how well...
Debt and deficit fluctuations and the structure of bond markets (2007)
We analyse the implications of optimal taxation for the stochastic behaviour of debt. We show that when a government pursues an optimal fiscal policy under complete markets, the value of debt has the...
An access control architecture for microcellular wireless IPv6 networks (2001)
Schmid, Stefan, Finney, Joe, Wu, Maomao, Friday, Adrian, Scott, Andrew, Shepherd, D.
This document introduces a novel access control architecture for publicly accessible wireless overlay networks. The architecture is designed to address the problems of ubiquitous Internet service...
Does tax smoothing imply smooth taxes? (1999)
Using a stochastic growth model subject to shocks to productivity, government expenditure and tastes we derive analytical expressions for optimal labour and capital tax rates. We find labour taxes...
Does tax smoothing imply smooth taxes? (1999)
Using a stochastic growth model subject to shocks to productivity, government expenditure and tastes we derive analytical expressions for optimal labour and capital tax rates. We find labour taxes...
Fickle investors: an impediment to growth (1999)
The aim of this paper is to construct theoretical models which help to shed light on the recent criticisms of volatile investment flows. We do not make any empirical attempt to establish the...
Fickle investors: an impediment to growth (1999)
The aim of this paper is to construct theoretical models which help to shed light on the recent criticisms of volatile investment flows. We do not make any empirical attempt to establish the...
Sticky prices and volatile output: or when is a Phillips curve not a Phillips curve? (1998)
We examine the effect of introducing price stickiness into a stochastic growth model subject to a cash in advance constraint. As has been previously documented the introduction of price rigidities...
Sticky prices and volatile output: or when is a Phillips curve not a Phillips curve? (1998)
We examine the effect of introducing price stickiness into a stochastic growth model subject to a cash in advance constraint. As has been previously documented the introduction of price rigidities...
Supporting Adaptive Video Applications in Mobile Environments (1998)
Davies, Nigel, Finney, Joe, Friday, Adrian, Scott, Andrew
The transmission of digital video over wireless networks is becoming a reality: it is now possible to construct working prototype systems which illustrate the benefits to be accrued from the...
The labour market over the business cycle: can theory fit the facts? (1997)
Millard, S., Scott, Andrew, Sensier, M.
We examine the ability of six labour market models to account for the business cycle behaviour of UK labour markets when embedded in a stochastic growth model. WE assess the models in terms of : (i)...
The labour market over the business cycle: can theory fit the facts? (1997)
Millard, S., Scott, Andrew, Sensier, M.
We examine the ability of six labour market models to account for the business cycle behaviour of UK labour markets when embedded in a stochastic growth model. WE assess the models in terms of : (i)...
Why is consumption so seasonal? (1995)
UK and US data suggest that consumption seasonality is both stochastic and characterised by permanent changes, that is there are seasonal unit roots in consumption. This paper explains the changes in...
Why is consumption so seasonal? (1995)
UK and US data suggest that consumption seasonality is both stochastic and characterised by permanent changes, that is there are seasonal unit roots in consumption. This paper explains the changes in...
Seasonality in dynamic regression models (1994)
Harvey, Andrew C., Scott, Andrew
This paper examines the implications of treating seasonality as an unobserved component which changes slowly over time. This approach simplifies the specification of dynamic relationships by...
Seasonality in dynamic regression models (1994)
Harvey, Andrew C., Scott, Andrew
This paper examines the implications of treating seasonality as an unobserved component which changes slowly over time. This approach simplifies the specification of dynamic relationships by...
A theory of economic fluctuations: increasing returns and temporal agglomerations (1993)
Acemoglu, Daron, Scott, Andrew
A competitive business cycle model is developed in which internal increasing returns translate a white noise random shock into temporarily agglomerated economic activity. Te qualitative nature of the...
A theory of economic fluctuations: increasing returns and temporal agglomerations (1993)
Acemoglu, Daron, Scott, Andrew
A competitive business cycle model is developed in which internal increasing returns translate a white noise random shock into temporarily agglomerated economic activity. Te qualitative nature of the...
Asymmetries in the cyclical behaviour of UK markets (1993)
Acemoglu, Daron, Scott, Andrew
Using a simple state-space approach, this paper documents widespread non-linearities in the UK labour market and shows that these non-linearities can be successfully modeled using the notion of...
Asymmetries in the cyclical behaviour of UK markets (1993)
Acemoglu, Daron, Scott, Andrew
Using a simple state-space approach, this paper documents widespread non-linearities in the UK labour market and shows that these non-linearities can be successfully modeled using the notion of...
Acemoglu, Daron, Scott, Andrew
Consumer confidence is found to have predictive content for a wide range of macroeconomic variables including consumption growth, contrary to standard REPIH. We find that on UK data the REPIH is...
Acemoglu, Daron, Scott, Andrew
Consumer confidence is found to have predictive content for a wide range of macroeconomic variables including consumption growth, contrary to standard REPIH. We find that on UK data the REPIH is...
Inflation Implications of Rising Government Debt
Chryssi Giannitsarou, Andrew Scott
The intertemporal budget constraint of the government implies a relationship between a ratio of current liabilities to the primary deficit with future values of inflation, interest rates, GDP and...
In Search of a Theory of Debt Management
Faraglia, Elisa, Marcet, Albert, Scott, Andrew
A growing literature integrates theories of debt management into models of optimal fiscal policy. One promising theory argues that the composition of government debt should be chosen so that...
Duriez, Patrick, Zhang, Yun, Lu, Zexun, Scott, Andrew, Topp, Edward
Confined livestock production farms typically store their wastes prior to land application. Here, we employed three complementary approaches to evaluate changes in the population structure and...