Find out about latest publications, news and current events.

Forthcoming Events

Research Webinar: A dataset of workforce job counts for British local authority districts, 1981-2018

Speaker
Dr Rob Calvert Jump

Abstract
This paper presents workforce job counts for British local authority districts between the years 1981 and 2018. The estimates are produced by adjusting local authority job counts drawn from the Census of Employment, Annual Employment Survey, Annual Business Inquiry, and Business Register and Employment Survey to match regional job counts drawn from the Workforce Jobs dataset. The result is a measure of sub-regional workforce jobs which is consistent with publicly available national statistics, and can be motivated as a maximum entropy estimator. To illustrate the use of the dataset, the employment effects of European Union Objective 1 funding are examined using a synthetic control method.

Wednesday 3rd February 14:00-16:00 (GMT)
Click here to join the seminar (No sign up needed)


Research Webinar: Central Bank Power versus the tyranny of financial markets: liquidity preference in a world of endogenous money

Speakers
Dr Alberto Botta and Professor Marco Missaglia

Abstract
In this paper we present a simple Keynesian model about the role of liquidity preference in the determination of economic performance. We assume a world of endogenous money, where the banking system is able to fix the interest rate at a level of its own willing. Even in this framework, we show that the Keynesian theory of liquidity preference, while obviously not constituting anymore a theory for the determination of the interest rate, continues to be a fundamental piece of theory for the determination of the level and evolution of aggregate income over time, both in the short and in the medium run. However powerful, the banking system and monetary authorities are not the deus ex machina of our economies and financial markets are likely to exert a permanent influence on our economic destiny.

Tuesday 9th February  14:00-16:00 (GMT)
Click here to join the meeting (no sign up needed)


Research Webinar: Does intellectual property protection deliver economic benefits? A multi-outcome meta-regression analysis of the evidence

Speaker
Professor Mehmet Ugur

Abstract
Both theoretical and empirical research on intellectual property protection (IPP) report contingent and conflicting findings on how IPP affects related outcomes such as innovation, technology diffusion, productivity, or growth. To establish where the balance of the evidence lies and identify the sources of heterogeneity in the evidence base, we conduct a multi-outcome meta-regression analysis that takes account of dependence, unobserved heterogeneity, and publication selection at the same time. Drawing on 91 primary studies that report 1,626 effect-size estimates for one or more outcomes, we find that IPP does not spur innovation, technology diffusion, productivity, or economic growth. The effects remain statistically or practically insignificant under different scenarios concerning model specification, effect-size standardisation, and ‘best practice’ scenarios for research. Our work offers two contributions to existing knowledge: (i) we extend the application of the multi-outcome meta-regression analysis into evidence synthesis in economics; and (ii) we provide verifiable/replicable evidence indicating that the sanguine claims about the IPP’s economic benefits encountered in some legal studies and the advocacy literature are misleading.


Tuesday 16th February 14:00 – 16:00 (GMT)
Click here to join the meeting (no sign in required)


Online Conference: Inequalities and policy implications after Covid-19

Whether we look at wealth, race, gender, health, or income, the pandemic has exposed, and in some cases exacerbated, pre-existing inequalities. From Black Lives Matter to new wealth taxes, the visibility of inequality has generated a strong response from social movements and policy makers. This raises many questions that have long been at the heart of policy - what causes inequality? What policies stop it rising? And does it ultimately lead to instability?  Inequalities and policy implications after Covid-19 is an online conference exploring these questions.
Keynote speakers: Diane Elson, Emeritus Professor University of Essex and Jayati Ghosh, Professor of Economics, University of Massachusetts, Amherst

Tuesday 23rd March 2021 12:30-18:45 (GMT)
Free sign up and programme via this link.


Past Events

Webinar: A Sub-national Resource Curse? A synthetic-control approach to the case of hydrocarbons in Basilicata, Italy

Speaker

Dr Luca Tasciotti

Abstract
Basilicata is a region of Southern Italy where the expansion of oil operations in the 1990s was promoted as an opportunity to foster economic development. In 2020, Basilicata is one of the poorest regions in Europe despite the exploitation of the largest onshore hydrocarbon reserves of the continent. The coincidence of high poverty rates with abundant natural resources suggests that the region is experiencing a 'resource curse'; however, socio-economic problems predate the oil boom, complicating any causality claim. To disentangle and estimate the effects of oil exploitation, we employ the synthetic control method that compares the actual trends of development indicators of Basilicata with a counterfactual that is created by taking a weighted average of trends of other Italian regions --a 'synthetic' Basilicata.
The analysis finds that the development of oil operations has generated no detectable improvement to employment, nor to a range of social indicators, nor educational attainment. The absence of quantifiable beneficial effects is coupled with negative impacts on other dimensions of development that are more difficult to estimate --the environment and human health. Taken together the evidence offers a sobering prospect over the potential of resource-based development for disadvantaged regions in developed countries.

Time: 26th January, 4pm
Sign up link to be uploaded soon


Webinar: 3000 Years of Discrimination and Counting: How Caste Still Matters in the Indian Credit Sector

Speaker

Dr Navjot Sangwan

Abstract

The caste system has dominated the social, political and economic lives of Indian people for over three thousand years. Since independence, the Indian government has introduced a flood of quotas, schemes and affirmative action to tackle caste discrimination. Can seventy years of government policy reverse three thousand years of oppression? Taking a close look at the country's credit system reveals that a new, more subtle, and less overt form of discrimination appears to be emerging, and becoming more widespread. This paper examines whether caste-based differences influence the amount of credit sanctioned to borrowers in India utilising data from the India Human Development Survey collected in 2005 and 2011-12. Using the Blinder–Oaxaca decomposition method, along with the Heckman procedure and the instrumental variable approach to correct for selection and simultaneity bias, I find substantial credit differentials between the general caste and other lower castes. I also show evidence of caste discrimination against the lower castes. The results of this research have been complemented by qualitative data gathered from interviewing lower caste borrowers in North India to understand the nature of discrimination and obstacles faced by them in the credit sector.

Time: Tuesday 8th December, 3.30pm
Click here to join the meeting [no need to sign up]

Working paper: PDF
Further details: here


Webinar: COVID-19, ecological, economic, social and financial sustainability

The scale of the COVID-19 crisis and its economic impact is unprecedented. Yet, even before the public health crisis struck, there were serious questions about the ecological, financial and social sustainability of our economy.

As economists from the Greenwich Political Economy Research Centre and the Institute of Political Economy, Governance, Finance and Accountability (PEGFA), we are hosting a series of webinars exploring the economic challenges of our time: from COVID-19 to the ecological, financial and social sustainability of modern capitalism.

Every Thursday at 3pm, a leading researcher from our research centre will run a free online seminar on their area of expertise, to help us make sense of these tumultuous times.

May 21: Fighting the COVID-19 emergency and relaunching the European economy: debt monetization and recovery bonds. Presentation slides | Video

May 28: Investing in social infrastructure and equality: lessons for macroeconomic policy from the pandemic Presentation slides | Video

June 4: COVID-19 and the public finances: Another ten years of austerity? Presentation slides |  Video

June 11: Class in the time of COVID-19: how the crisis has exposed class divides Presentation slides | Video

June 18: Greening the Bank of England COVID-19 QE programme Presentation slides

June 22: Cooperatives: democracy, equality, and efficiency

July 2: Reflections on innovation policy after Covid-19: What does the microeconometric evidence tell us?

July 9: The political economy of income distribution – why is income inequality increasing and what can we do about it?

July 14: Is the European Green Deal ambitious enough?

July 16: Covid-19: is this the end of financialization?

To see a more information on each event and to register please follow the link here.

Download Full Programme here.


European Green Deal: From ambitions to reality

PEGFA researcher Dr Rafael Wildauer is presenting a policy paper on the European Green Deal. This is the first output from a larger project together with the Foundation for European Progressive Studies, the Karl Renner Institute and the Chamber of Labour Vienna. The policy paper analyses the current proposals around the European Green Deal and compares them with the current scientific evidence coming out of climate science. Julia Herr, member of the Austrian Parliament and Niels Fuglsang, member of the European Parliament will provide a political assessment.

Please find the full programme here and register here.

  • Monday 15th June
  • 12:30 - 14:00
  • Registration link here
  • Full Programme here

International Cooperative Webinar

The Institute of Political Economy, Governance, Finance and Accountability (PEGFA), in association with the African Cooperative union, is hosting an International Cooperative Webinar on Saturday 20th June.

The conference will take the form of four plenaries: The first will feature presentations from leading academics on cooperative economics and African peoples' empowerment. In the second, practitioner organisations involved in promoting African peoples' economic empowerment in the UK will speak about what they do. The third plenary will be devoted to institutions that provide technical of financial support to cooperatives. In the final plenary, which will be a 'meeting of the whole' those present will be invited to explore strategies to raise the level of cooperation among African people's cooperatives in the UK.

Speakers

Keynote: Professor Jessica Gordon-Nembhard | "The African American Cooperative Empowerment Experience"

Professor Esther Gicheru | Cooperative University of Keyna | "The Keynan Cooperative Experience"

Professor Gibril Faal | LSE | "The African Diaspora Experience in the UK and Continental Connections"

Professor Kehinde Andrews | Birmingham City University and author of Black to Black: Retelling Black radicalism for the 21st Century |  "The Social and Economic Circumstances of People of African Descent"

  • Saturday 20th June | 15:00 BST to 18:30 BST
  • For tickets and more information please see here

9th PKES Summer School – Introduction to Post Keynesian Economics and Political Economy

This event will now be hosted online.

This four-day summer school introduces Post Keynesian Economics as an alternative to mainstream neoclassical economic theory and neo-liberal economic policy. Key assumptions in Post Keynesian Economics are that individuals face fundamental uncertainty about the future; there is a central role for 'animal spirits' in the determination of investment decisions; inflation is the result of unresolved distributional conflicts; money is an endogenous creation of the private banking system; unemployment is determined by effective demand on the goods markets; financial markets are prone to periodic boom-bust cycles.

The summer school is aimed at students of economics and social sciences. As the aim of Post Keynesian Economics and Political Economy ultimately is to provide the foundation for progressive economic policies, it may be of interest for a broader audience.

  • Tuesday 23 June to Friday 26 June
  • For tickets and more information please see here

Postponed: Rethinking Economics 2020: salvage the future


The future is uncertain. From ecological breakdown to precarious work, many people feel that business as usual is leading us towards a dead end. However, despite all the pessimism and fear, young people across the globe are demanding change - on the streets and in the classroom.

While dissenting students in economics have raised an unlimited number of questions about the future, answers from the mainstream remain scarce. Is our economics education fit to meet the challenges of the coming decade? What economic issues are behind this sense of decline? And do we need systemic change to salvage the future? On March 28 2020, Rethinking Economics Greenwich (REG) will host a festival of ideas to tackle these questions.

Speakers include Grace Blakeley, Jonathan Aldred, Daniela Gabor, Özlem Onaran, Nick Srnieck and many more...
  • Time: Saturday 28 March 10am to 6pm
  • Location: Room QA080, Queen Anne Court, Greenwich Campus, University of Greenwich
  • Tickets: Tickets are free but please sign up here, where you will find more information about speakers, location and details.

Past Events

Click here to see past events.

News

GPERC
CGRA Deprivation and the electoral geography of Brexit