The School's Dr Katsuyuki Shibayama (Principal Investigator), Professor Miguel León-Ledesma, and Dr Keisuke Otsu (Keio University and Honorary Lecturer at Kent) have received funding from the Murata Foundation in Japan for 2 million Yen for a project entitled: A quantitative analysis of population ageing on economic growth and income inequality.
The project aims at understanding the consequences of population ageing for the joint dynamics of growth and income distribution. Its objective is to construct a model of overlapping generations where families choose the number of children and their level of education. The model will then be used to analyse the effect of different "anti-ageing" policies on growth and income distribution, namely: female employment support, child-care support, and higher education subsidies.
Dr Penélope Pacheco-López, Associate Lecturer in Economics, has made a major contribution to a recent UNIDO publication on Structural Change for Inclusive and Sustainable Industrial Development. She wrote three chapters "Manufacturing and Economic Development: An Introduction", "Patterns of Manufacturing Development" and "Inclusive Manufacturing Development". The publication is accessible at https://www.unido.org/resources/publications/latest-publications
The pay of university vice-chancellors (VC) in the UK has caused a strong debate in the press recently leading to some VCs having to resign.
Academics protest that at a difficult time for UK academia caused by the insecurity faced in the outset of Brexit, the gap between VC and staff pay is increasing. Students claim that at a time when tuition fees are increasing and they are accumulating high levels of debt the increase in VC's pay is unacceptable. Remuneration committees of universities however, argue that the increase is justified giving the VCs outstanding performance, especially during these turbulent times.
by Nizar Allouch, University of Kent, and Maia King, University of Oxford. Discussion paper KDPE 1806, May 2018.
Voluntary contributions account for the provision of many public goods, ranging from essential infrastructure, education, to health care, while at the aggregate level charitable giving represents a significant proportion of GDP in many countries. The seminal contribution of Bergstrom, Blume, and Varian (1986), built on an earlier striking result by Warr (1981), provides a rigorous investigation of the standard model of private provision of pure public goods.
Recent work on public goods in networks, initiated by the key paper of Bramoullé and Kranton (2007), has many interesting facets and applications. The technology of network analysis allows us to generalise from the provision of pure public goods, which benefit all agents, to a more detailed model of local public goods with a heterogeneous benefit structure shaped by a network.