Financial Structure: An Investigation of Sectoral Balance Sheets in the G-7

Joseph P. Byrne graduated with a PhD from the University of Strathclyde in 2000 and since then has been employed by NIESR, where he is at present a Senior Research Officer. His research is mainly concerned with applied economics and he has forthcoming publications in Economic Modelling. In addition to balance sheets and financial structure, he has recently worked on consumption, investment, exchange rates and price determination. E. Phillip Davis is Professor of Economics and Finance, Brunel University, West London and a Visiting Fellow at NIESR. He is also an Associate Member of the Financial Markets Group at LSE, Associate Fellow of the Royal Institute of International Affairs and Research Fellow of the Pensions Institute at Birkbeck College, London. Prior to taking up his Chair at Brunel, Davis studied at Oxford during 1975-80, before spending the period from 1980-2000 as a central banker at the Bank of England, BIS and European Monetary Institute. Davis's research interests cover the broad field of applied economic analysis of financial institutions and markets. Besides numerous articles, he has published the following books: Debt, Financial Fragility, and Systemic Risk (Oxford, 1995), Pension Funds (Oxford, 1995) and Institutional Investors (MIT Press, with Benn Steil, 2001).