This project was conducted in 2010 by Arun Jacob, Soumaya Keynes, Promit S. Anwar, George F. Barton, Philipp Heller, Mahima Khanna, Piotr J. Krupa, James Wan, Jasmine Xiao, Michelle Wenchao Jin, and Xiling Zhou, but is still up-to-date since the crisis is yet not over.
Hopefully MERG will produce a new edition of Cambridge Perspectives on the Financial Crisis in 2012-2013. I am definitely looking forward to reading it!
Abstract: The Cambridge Perspectives on the Financial Crisis presents a useful opportunity to reflect upon both quantitative methods of modelling and the preaching of different schools of economic thought. This collection articles and interviews by members of the Economics Faculty draws together some of the most important and widely-discussed issues related to the recent economic turmoil. It is remarkable for the scope of the topics researched and the range of approaches used, as it includes macroeconomic, microeconomic, political, and historical perspectives.
Friday, October 12, 2012
Saturday, October 6, 2012
Charitable Giving and Religion
This project was carried out by Maria Balgova last year under the direction of Dr. J. Fruehwirth.
Here is a Presentation and a Literature Review
Friday, October 5, 2012
What is the Effect of Public Sector Pay-Regionalisation on Local Economies?
Paper:
Authors: Christopher Belfield, Ksenija Osmjana, Joyce Ong Pei Wen, and Christian Wolf
Date: May 2012
Abstract: This paper looks at the Chancellor's proposition to regionalise public sector pay. Using private sector as a benchmark for regionalisation, we carried out quantitaive and qualitative analysis of this plicy. Using 1.5 multiplier, annual savings to the government were calculated as 0.22%, while annual fall in national GDP 0.33%. Some regions (Wales, Scotland and North West) are likely to face considerably large falls in annual GDP due to the policy implementation. If correctly implemented, pay regionalisation may solve problems of labour shortages and poor public service provision, as well as promote entrepreneurship. We propose that pay regionalisation is introduced, but a new payment system should be developed since zonal system would be ineffective due to the pay variation within regions. Additionally, savings form the policy introduction should be used for infrasctructure investment in order to prevent negative effects on the aggregate demand. Finally, effects of the pay regioanlisation are likely to be greater in the short-run and fade away over time.
There is also a Powerpoint presentation.
What is the Effect of Public Sector Pay-Regionalisation on Local Economies?
Authors: Christopher Belfield, Ksenija Osmjana, Joyce Ong Pei Wen, and Christian Wolf
Date: May 2012
Abstract: This paper looks at the Chancellor's proposition to regionalise public sector pay. Using private sector as a benchmark for regionalisation, we carried out quantitaive and qualitative analysis of this plicy. Using 1.5 multiplier, annual savings to the government were calculated as 0.22%, while annual fall in national GDP 0.33%. Some regions (Wales, Scotland and North West) are likely to face considerably large falls in annual GDP due to the policy implementation. If correctly implemented, pay regionalisation may solve problems of labour shortages and poor public service provision, as well as promote entrepreneurship. We propose that pay regionalisation is introduced, but a new payment system should be developed since zonal system would be ineffective due to the pay variation within regions. Additionally, savings form the policy introduction should be used for infrasctructure investment in order to prevent negative effects on the aggregate demand. Finally, effects of the pay regioanlisation are likely to be greater in the short-run and fade away over time.
There is also a Powerpoint presentation.
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