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Archive for November 2017

Monday, November 27th, 2017

16/11/2017 - Economistjobs: Regional Economic Performance for a selected sample of EU countries. posted by Dr Stefano Ficco

 1.1      Introduction
GDP per capita is a commonly used measure of the affluence of a country. However, it is a coarse-grained aggregate measure (it is simply the value of goods and services produced within a country divided by the population of that country) which does not provide information on how income is distributed across the different regions of a country.  By considering, instead, regional GDP per capita we can obtain a more fine-grained picture of the geographic distribution of income within countries.  For example, we can gain insights into:
The proportion of a country’s population that lives in regions with a GDP per capital level higher or lower than a given threshold.
The degree of geographic inequality within a country.
Much popular discussion of inequality focuses upon differences in income across a country as a whole. Such discussions run the risk of conflating differences between high-income and low income groups within a region with differences in the incomes of regions as whole (whereby both richer and poorer citizens within one region might have materially lower incomes than those in other regions).
At the other end of the spectrum, when regional analysis is conducted, it is often done at a fairly crude level of considering only the incomes of richer and poorer regions but without considering what proportion of the total population lives in those regions.
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05:01 PM | Permalink

31/10/2017 - EconomistJobs blog:Trade in value added: how Global Value Chains affect competitiveness posted by Simona Castellini

 1.1  Measuring external competitiveness
The issue of external competitiveness has always been an important topic in the economic and political discourse of the European Union.[1] In this respect, in 2010 the European Commission launched the Europe 2020 strategy aiming at transforming the EU into “a smart, sustainable and inclusive economy, delivering high levels of employment, productivity and social cohesion.” Similar to the Lisbon Strategy which ended in 2010, the Europe 2020 strategy is driven by international competitiveness concerns and the promotion of productivity, growth and sustainability.
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04:41 PM | Permalink

29/09/2017 - EconomistJobs blog: The future of Initial Coin Offerings posted by Sida Yin

 Initial Coin Offerings (ICOs) have recently received a lot of attention due to the ban imposed by Chinese regulators. China is not the only country that is concerned about ICOs. On 12th September, the UK’s Financial Conduct Authority (FCA) issued a warning to consumers about the risks of ICOs.[1] Regulators from the USA, Canada, Japan, Hong Kong and Singapore have also alerted “investors” about the risks associated with ICOs, albeit not implementing bans.[2] In this article, we discuss the questions regulators need to consider in regulating ICOs. We begin by describing what an ICO is.

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04:35 PM | Permalink

21/08/2017 - EconomistJobs blog: Does it still pay to be green on Britain’s roads? posted by Sam Winward

 What’s changed?

On April 1st 2017, the UK government introduced changes to Vehicle Excise Duty (VED).
VED has undergone several evolutions in recent years. In 2001, VED was reformed to reflect CO2 emissions rates per kilometre, with 13 bands of increasing CO2 emissions incurring increasing VED costs. The scheme was further reformed in 2013, to introduce separate first year rates which further penalised purchasers of high CO2 emitting vehicles.
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04:32 PM | Permalink

19/07/2017 - EconomistJobs blog: E-commerce Parcel Delivery: Problems and Possible Solutions posted by Dr Nadia Chernenko

 Online shopping and parcel delivery

The quality of parcel delivery has become extremely important as more and more people shop online. In the UK, 3 in every 4 adults made an online purchase in 2016, receiving in total over 1 billion parcels. By 2018, the e-commerce market is expected to grow by about one third, to reach 1.3 billion parcels annually. Cross-border shopping is also gaining pace as (in particular) younger consumers search and order goods online from other countries.
This growth in e-commerce means it’s not surprising that consumers are more likely to experience problems with the delivery of their order than before. The near-collapse of the parcel delivery market around Christmas 2014 may have faded from public memory but it definitely spoilt that festive season for many customers when parcel companies seemed to lack enough vans and drivers to deliver all items on time.
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04:31 PM | Permalink

28/02/2017 - EconomistJobs blog: Self-employment disentangled posted by Ada Kinvzyk

 There has been a major shift in the labour market towards self-employment with 4.8 million self-employed workers in the last quarter of 2016 — almost a 50% increase compared to 2000.

Self-employed profile
The trend has been particularly strong for part-time self-employment, which increased by 88% between 2001 and 2015 (compared to only 25% increase in part-time employment in the same period). The number of full-time self-employed workers increased by 25%.[1] While still a majority of self-employed workers are men (mostly due to their dominance in the full-time self-employed group) the propensity of women to become self-employed is rising (women already account for 60% of part-time self-employed group). These numbers indicate that — while the unstable post-crisis market could have contributed to the shift — the trend has its origin much earlier.
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04:29 PM | Permalink

31/01/2017 - EconomistJobs blog: Universal Basic Income posted by Europe Economics

 Earlier this month, Finland became the first European country to offer its unemployed citizens a monthly unconditional income of €560 as part of a two-year pilot program aiming to reduce poverty and unemployment.[1] Similarly, the councils of Fife and Glasgow in Scotland[2] piloted analogous programs this year, while similar universal basic income (UBI) schemes can also be found in Canada[3] and Silicon Valley.[4]

The UBI concept works on the premise that individuals are guaranteed a minimum regular payment unconditionally. Although not new in its inception, the recent resurface of UBI is underpinned by significant advancements in the automation of the production process, which, according to UBI proponents, are likely to severely impede labour market security and stability. To this end, advocates of UBI schemes point to the fact that in 2014 alone, robotics sales rose by 29 per cent, the highest year-on-year increase ever, being mainly driven by automotive parts suppliers and the electrical/electronics industry. Similarly, annual robotics patent filings have tripled over the last decade.[5]
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04:26 PM | Permalink

17/11/2016 - EconomistJobs blog: Employment post-Brexit posted by Europe Economics

 On July 13, Business insider posted an article based on Credit Suisse report headlined “’Mayday! Mayday!’ — Britain’s impending recession will kill nearly 500,000 jobs”. Similar predictions by other economists suggested an increase in unemployment post-Brexit, a labour market reaction similar to the financial crisis of 2008.

However, data revealed by the ONS suggested that post-Brexit, employment remained stable. In fact, the number of people in Britain claiming jobless benefits fell in July. The ONS publication in October further revealed that UK employment rate is an all-time high at 74.5 per cent. The most recent figure for November 2016 shows unemployment rate being at 11 years low at 4.8 per cent. The labour market is not showing any signs of a post-Brexit downturn. However, this may be due to the economy being close to full employment level as data shows a decline in wage growth and a decline in employment growth which suggests that the labour market might face troubles in next few years.
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04:23 PM | Permalink

29/09/2016 - EconomistJobs blog: How might the sharing economy affect the world of work? posted by Europe Economics

What is the Sharing Economy?
New technologies and innovations have encouraged the rise of novel business models, collectively known as the sharing economy. Although definitions of the sharing economy may differ, the term is predominantly used to describe technology driven market places (platforms) enabling a wide variety of exchanges.[1]
The appearance of such platforms has created a new world of business that capitalises on the influence of social environments and where technology breakthroughs are the norm. It is natural to wonder how the sharing economy might affect the world of work in the future.
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04:21 PM | Permalink

30/08/2016 - EconomistJobs blog: Some potential impacts of Brexit on real wages posted by Europe Economics

 On 23 June 2016, the UK voted, in its referendum on EU membership, to leave the EU. British exit from the EU is commonly referred to as “Brexit”. In this note we shall consider five ways Brexit might be expected to effect real wages: GDP; the share of wages in GDP; immigration; regulation; and prices.

First, other things being equal, one would expect real wages to be higher if real GDP is higher and lower if it is lower. Almost all economists (including pro-Brexit economists) expect GDP growth to be slower in the short-term in the run-up to Brexit and period immediately following. We should therefore expect real wage growth to be slower in that period than it would have been had the UK voted to Remain. Impacts over the longer-term are slightly more disputed, with around 30 per cent of economists expecting the short-term losses at around the time of Brexit to be recovered over the longer term, with the considerable majority (about 70 per cent) expecting there to be long-term losses, also. If the minority view is correct, that would tend to imply faster real wage growth in the period after the initial Brexit disturbance (say, from two or three years after Brexit on), whilst if the majority of economists are correct, one should expect wage growth to be slower later, also.
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04:17 PM | Permalink