Geoffrey Wood Research Articles

THE ‘PRODUCTIVITY PUZZLE’ AND THE COST OF CAPITAL

Economic AffairsVolume 38, Issue 2 p. 265-272 Discussion THE ‘PRODUCTIVITY PUZZLE’ AND THE COST OF CAPITAL J. R. Sargent, J. R. Sargent sargent341@btinternet.com Honorary Professor of Economics, University of Warwick. Email: sargent341@btinternet.com. For comments on an earlier version of this paper, the author is indebted to Geoffrey Wood (of the City University Cass Business School), to Geoffrey Renshaw and Nicholas Crafts (of the Economics Department at the University of Warwick), and to two referees.Search for more papers by this author J. R. Sargent, J. R. Sargent sargent341@btinternet.com Honorary Professor of Economics, University of Warwick. Email: sargent341@btinternet.com. For comments on an earlier version of this paper, the author is indebted to Geoffrey Wood (of the City University Cass Business School), to Geoffrey Renshaw and Nicholas Crafts (of the Economics Department at the University of Warwick), and to two referees.Search for more papers by this author First published: 19 June 2018 https://doi.org/10.1111/ecaf.12286 Read the full textAboutPDF ToolsRequest permissionExport citationAdd to favoritesTrack citation ShareShare Give accessShare full text accessShare full-text accessPlease review our Terms and Conditions of Use and check box below to share full-text version of article.I have read and accept the Wiley Online Library Terms and Conditions of UseShareable LinkUse the link below to share a full-text version of this article with your friends and colleagues. Learn more.Copy URL Share a linkShare onFacebookTwitterLinkedInRedditWechat Volume38, Issue2June 2018Pages 265-272 RelatedInformation

Research Methods in HRM

Human Resource ManagementVolume 53, Issue 6 Call for Papers Research Methods in HRM First published: 21 November 2014 https://doi.org/10.1002/hrm.21698Read the full textAboutPDF ToolsRequest permissionExport citationAdd to favoritesTrack citation ShareShare Give accessShare full text accessShare full-text accessPlease review our Terms and Conditions of Use and check box below to share full-text version of article.I have read and accept the Wiley Online Library Terms and Conditions of UseShareable LinkUse the link below to share a full-text version of this article with your friends and colleagues. Learn more.Copy URL Share a linkShare onFacebookTwitterLinkedInRedditWechat No abstract is available for this article. Volume53, Issue6Special Issue: Emerging Markets. Guest Editors Adrian Wilkinson, Geoffrey Wood, and Mehmet DemirbagNovember/December 2014 RelatedInformation

Human Resource Management

Human Resource ManagementVolume 53, Issue 6 Volume Contents Human Resource Management Volume 53 First published: 21 November 2014 https://doi.org/10.1002/hrm.21696Read the full textAboutPDF ToolsRequest permissionExport citationAdd to favoritesTrack citation ShareShare Give accessShare full text accessShare full-text accessPlease review our Terms and Conditions of Use and check box below to share full-text version of article.I have read and accept the Wiley Online Library Terms and Conditions of UseShareable LinkUse the link below to share a full-text version of this article with your friends and colleagues. Learn more.Copy URL Share a linkShare onFacebookTwitterLinkedInRedditWechat Volume53, Issue6Special Issue: Emerging Markets. Guest Editors Adrian Wilkinson, Geoffrey Wood, and Mehmet DemirbagNovember/December 2014 RelatedInformation

Author Index

Human Resource ManagementVolume 53, Issue 6 Author Index Author Index Volume 53 First published: 21 November 2014 https://doi.org/10.1002/hrm.21697Read the full textAboutPDF ToolsRequest permissionExport citationAdd to favoritesTrack citation ShareShare Give accessShare full text accessShare full-text accessPlease review our Terms and Conditions of Use and check box below to share full-text version of article.I have read and accept the Wiley Online Library Terms and Conditions of UseShareable LinkUse the link below to share a full-text version of this article with your friends and colleagues. Learn more.Copy URL Share a linkShare onFacebookTwitterLinkedInRedditWechat Volume53, Issue6Special Issue: Emerging Markets. Guest Editors Adrian Wilkinson, Geoffrey Wood, and Mehmet DemirbagNovember/December 2014 RelatedInformation

Fifty Economic Fallacies Exposed: Second Edition

Whilst it is impossible to argue that the earth is flat without fearing ridicule, fallacies in economics are widespread. Such fallacies pervade the intellectual sphere and even influence policy. Professor Geoffrey Wood of the University of Buckingham exposes such popular economic fallacies in this revised edition of Fifty Economic Fallacies Exposed. Professor Wood looks at, for example, the supposed dangers of free trade, the abilities of governments to control the economy, the effects of government regulation and whether millions of jobs depend on our continued membership of the European Union. These lucid and stimulating articles are invaluable to students struggling to master some of the complexities of economic theory and its applications, who often find that the most effective way to learn economic analysis is to see such fallacies exposed. It is a text particularly suitable for first-year economic students, complementing existing textbooks as it does, and clarifying basic concepts in economics while demonstrating the practical uses of economic theory. Contents: 1. Regulation and markets 2. International trade and finance 3. Inflation 4. Fiscal policy: taxation 5. Fiscal policy: government spending 6. Monetary policy: theory 7. Monetary policy: practice 8. Cost, price and value 9. Labour markets

HaroldJames, Making the European Monetary Union: the role of the Committee of Central Bank Governors and the origins of the European Central Bank (Cambridge, MA: Belknap Press of Harvard University Press, 2012. Pp. xiv + 567. 18 figs. ISBN 9780674066830 Hbk. £25)

The Economic History ReviewVolume 66, Issue 4 p. 1225-1227 Book Review James, Harold, Making the European Monetary Union: the role of the Committee of Central Bank Governors and the origins of the European Central Bank ( Cambridge, MA: Belknap Press of Harvard University Press, 2012. Pp. xiv + 567. 18 figs. ISBN 9780674066830 Hbk. £25) Geoffrey Wood, Geoffrey Wood Cass Business School University of BuckinghamSearch for more papers by this author Geoffrey Wood, Geoffrey Wood Cass Business School University of BuckinghamSearch for more papers by this author First published: 09 October 2013 https://doi.org/10.1111/1468-0289.12034_32Read the full textAboutPDF ToolsRequest permissionExport citationAdd to favoritesTrack citation ShareShare Give accessShare full text accessShare full-text accessPlease review our Terms and Conditions of Use and check box below to share full-text version of article.I have read and accept the Wiley Online Library Terms and Conditions of UseShareable LinkUse the link below to share a full-text version of this article with your friends and colleagues. Learn more.Copy URL Share a linkShare onFacebookTwitterLinked InRedditWechat Volume66, Issue4November 2013Pages 1225-1227 RelatedInformation

Monetary and banking history: essays in honour of Forrest Capie – Edited by Geoffrey Wood, Terence C. Mills, and Nicholas Crafts

Monetary and banking history: essays in honour of Forrest Capie – Edited by Geoffrey Wood, Terence C. Mills, and Nicholas Crafts

HRM in emergent market economies: evidence and implications from Europe

Fang Lee Cooke Professor of HRM and Chinese Studies Department of Management Monash University 26 Sir John Monash Drive Caulfield East Melbourne, VIC 3145 Australia Fang.cooke@monash.edu Geoffrey Wood Professor of HRM School of Management University of Sheffield 9 Mappin St Sheffield, S1 4DT United Kingdom g.t.wood@sheffield.ac.uk Alexandros G. Psychogios Senior Lecturer CITY College, An International Faculty of the University of Sheffield 3 Leontos Sofou St. Thessaloniki 546-26 Greece a.psychogios@city.academic.gr Leslie T. Szamosi Senior Lecturer CITY College, An International Faculty of the University of Sheffield 3 Leontos Sofou St. Thessaloniki 546-26 Greece szamsoi@city.academic.gr

Industrial Relations in Africa - Edited by Geoffrey Wood and Chris Brewster

Industrial Relations in Africa - Edited by Geoffrey Wood and Chris Brewster

Book Reviews

Texts providing a general overview of employment and industrial relations in the UK public sector are relatively irregular occurrences, despite the increasing pace of change in the subject. This edited volume finds a useful and welcome place among this rare genre. It is perhaps ironic that the publication of several of the better-known recent texts has barely predated further tranches of innovation, causing the books concerned to date relatively rapidly. This observation seems again likely to hold good: Susan Corby and Geoff White's text appeared when the 'New Labour' public service 'moderization' project had barely left the starting blocks; now the advent of the Brown Labour administration, confronted by a resurgent Conservative Party, has begun to render the pattern of future developments again uncertain. Pauline Dibben, Phil James, Ian Roper and Geoffrey Wood (eds) (Palgrave Macmillan: 2007), xii + 216pp., ISBN 9781403998590

Modernising Work in Public Services — Redefining Roles and Relationships in Britain's Changing Workplace – Edited by Pauline Dibben, Phil James, Ian Roper and Geoffrey Wood

British Journal of Industrial RelationsVolume 46, Issue 1 p. 207-208 Modernising Work in Public Services — Redefining Roles and Relationships in Britain's Changing Workplace – Edited by Pauline Dibben, Phil James, Ian Roper and Geoffrey Wood Philip Morgan, Philip Morgan Cardiff UniversitySearch for more papers by this author Philip Morgan, Philip Morgan Cardiff UniversitySearch for more papers by this author First published: 05 February 2008 https://doi.org/10.1111/j.1467-8543.2007.00672_5.xRead the full textAboutPDF ToolsExport citationAdd to favoritesTrack citation ShareShare Give accessShare full text accessShare full-text accessPlease review our Terms and Conditions of Use and check box below to share full-text version of article.I have read and accept the Wiley Online Library Terms and Conditions of UseShareable LinkUse the link below to share a full-text version of this article with your friends and colleagues. Learn more.Copy URL Volume46, Issue1March 2008Pages 207-208 RelatedInformation

The Importance of Legislated Employment Mark Harcourt, Protection for Worker Commitment in Geoffrey Wood Coordinated Market Economies

(2007). The Importance of Legislated Employment Mark Harcourt, Protection for Worker Commitment in Geoffrey Wood Coordinated Market Economies. Journal of Economic Issues: Vol. 41, No. 4, pp. 961-980.

Institutions, Production and Working Life – Edited by Geoffrey Wood and Phil James

British Journal of Industrial RelationsVolume 45, Issue 4 p. 865-867 Institutions, Production and Working Life – Edited by Geoffrey Wood and Phil James Peter Scott, Peter Scott University of PortsmouthSearch for more papers by this author Peter Scott, Peter Scott University of PortsmouthSearch for more papers by this author First published: 06 November 2007 https://doi.org/10.1111/j.1467-8543.2007.00655.xRead the full textAboutPDF ToolsExport citationAdd to favoritesTrack citation ShareShare Give accessShare full text accessShare full-text accessPlease review our Terms and Conditions of Use and check box below to share full-text version of article.I have read and accept the Wiley Online Library Terms and Conditions of UseShareable LinkUse the link below to share a full-text version of this article with your friends and colleagues. Learn more.Copy URL Share a linkShare onFacebookTwitterLinked InRedditWechat Volume45, Issue4December 2007Pages 865-867 RelatedInformation

Should We Have Faith in Central Banks?

Central bank independence is now in vogue because of previous experience of politicisation of monetary policy. But can the central bankers be trusted more than the politicians? In this Occasional Paper, Professor Otmar Issing, the leading monetary economist and one of Europe's most influential central bankers, argues that price stability is a 'common good' and that it is better in the hands of an independent central bank with a clear price stability mandate. The independent central bank with such a manadate, in effect, represents a set of rules which impose constraints on the abuse of power either by politicians or by central bankers. Central bankers operate best in institutions which have a clear objective and are held accountable to the public. Professor Geoffrey Wood adds a commentary which puts Issing's paper in the context of the 'rules versus discretion' debate and deals with three related issues: the meaning of 'price stability', the importance of stable money to the functioning of a market economy and the central bank's role in maintaining financial stability.

Fifty Economic Fallacies Exposed

Since 1988, Professor Geoffrey Wood of the Sir John Cass Business School, has written a regular column in the IEA's journal, Economic Affairs, in which he exposes popular economic fallacies. Fifty Economic Fallacies Exposed collects fifty of these columns and exposes numerous common fallacies. These lucid and stimulating columns are invaluable to students struggling to master some of the complexities of economic theory and its applications, who often find the most effective way to learn economic analysis is to see such fallacies exposed. It is a text particularly suitable for first year economics students, complementing existing textbooks as it does, and clarifying basic concepts in economics while demonstrating the practical uses of economic theory.

Business and politics in a criminal state: the case of Equatorial Guinea

This article assesses the changing nature of the contemporary political economy of Equatorial Guinea. It provides an overview of the complex and dynamic web of elite rent-generation and explores the extent to which the development of an oil industry has contributed to a monoculture of accumulation. It is concluded that, despite the oil windfall, other, 'illicit', modes of elite rent-generation persist and have even intensified. DUBBED THE KUWAIT OF WEST AFRICA, the former Spanish colony of Equatorial Guinea has experienced extremely rapid growth as a result of the discovery and exploitation of major offshore oil reserves.1 Less enviably, the country has a well-deserved reputation for gross human rights abuses and corruption. Whilst accumulation centring on a tiny elite is widespread on the African continent, the concentration and nature of the activity have had particularly adverse consequences in Equatorial Guinea. Indeed, in his classic account, Small is notAlways Beautiful, Max Liniger-Goumaz suggests that the closest comparable examples can be found in the former clan dictatorships of Latin America, including the Duvaliers' Haiti, the Somozas' Nicaragua, Porfirio Diaz's Mexico and Batista's Cuba.2 Equatorial Guinea's 'family caudillismo' Nguemist regime matches or exceeds earlier Latin American manifestations both in rapacity and brutality; President Obiang Nguema Mbasago is regularly named as one of the worst despots in the world.3 This article analyses the political economy of Equatorial Guinea, which has been largely neglected in recent Africa-related research.4 It provides an Geoffrey Wood is Professor, Middlesex University Business School, Middlesex University, London. The fieldwork for this article was conducted with George Frynas, whose insights and depth of knowledge of the West African oil industry proved invaluable. The conclusions reached are, however, the author's own. 1. Max Liniger-Goumaz, Small is Not Always Beautiful: The story of Equatorial Guinea (Rowman and Littlefield, Savage, MD, 1989). 2. Ibid. 3. Ibid.; 'Afrol Country Report'. America Online News (Oslo, 2003). (www.afrol.com). 4. Liniger-Goumaz's classic account, Small is Not Always Beautiful, represents a standard albeit dated reference work on the subject. Other published studies include the similarly dated work by Randall Fegley, Equatorial Guinea: An African tragedy (P. Lang, New York, 1989). Robert Klitgaard's Tropical Gangsters: One man's experience with debt and decadence in

Keynes and Economic Policy: The Relevance of The General Theory after Fifty Years

Part 1 The adequacy of market forces for the achievement of high employment: are market forces adequate to maintain full employement - if not, can demand management policies be relied upon to fill the gap, Jo Artis the role of demand management in the maintenance of full employment, Bennett McCallum. Part 2 Money, wages and employment: wages and unemployment half a century on Patrick Minford wages and economic activity, Stephen Nickell. Part 3 The effect of fiscal reflation upon employment: the effect of fiscal reflation upon employment, Francis Breddon, Alan Budd et al aspects of the theory of fiscal policy, Maurice Preston. Part 4 The inflationary impact of fiscal policy : inflation and fiscal expansion, Christopher Taylor is fiscal expansion inflationary, Peter Sinclair Part 5 The significance of public sector borrowing: government deficits and debts - the necessity and cost of adjustment - the case of Italy, Giampaolo Galli and Rainer Masera measures of fiscal stance and rules for stabilizing the economy - the case for separating measurement from policy, Marcus Miller and Alan Sutherland. Part 6 Policy to control interest rates: interest rates and macroeconomic policy, J. Flemming interest rates and the conduct of monetary policy, Geoffrey Wood. Part 7 Should reflationary fiscal policy have priority over monetary policy: Monetary and fiscal policy in the UK, Alan A.Walters Should fiscal policy rule the roost - the coordination of monetary and fiscal policy, David Currie. Part 8 Keynesian policy in a historical context: Keynes on interwar economic policy, N.H.Dimsdale Keynes and the TUC in the 1930s and the 1980s, Bill Callaghan Keynesian and other explanations of post-war macro-economic trends, R.C.O.Matthews and A.Bowen. Part 9 The international dimension : how valid is international Keynesianism, Max Corden. Part 10 Keynes and UK and German economic policy: the irrelevance of Keynes to German economic policy and to international economic cooperation in the 1980s, Ernst Helmstadter the UK government's financial strategy , Sir Terence Burns. Conclusion: The continuing relevance of Keynes to economic policy, Walter Eltis.

The Right Road to Monetary Union

How should European monetary coordination develop? John Chown and Geoffrey Wood argue that the European central banks should be forced to compete in providing the best monetary services.

Public Sector Debt Repayment, the Gilts Market, and the Economy

What is the significance of the budget surplus? Professor Geoffrey Wood, of the City University Business School, claims the Public Sector Debt Repayment and the repayment of the National Debt have advantages for the economy.

The Crash and Ricardo: Does the US Budget Deficit Matter?

How important was the American budget deficit as a cause of the crash? Geoffrey Wood and Mahmoud Pradham of the City University Business School argue that the deficit was not even a contributory cause. A modern version of the‘Ricardian Equivalence Theorem’suggests that the effect of government borrowing on the economy can be greatly exaggerated.