Geneva Report: Fiscal Policies Must Work Together
The 2020 Geneva Report has been published. Co-authored by Professor Giancarlo Corsetti from the Faculty of Economics at the University of Cambridge, the 23rd report looks at macroeconomic and financial instability and disruptive crises such as the COVID-19 pandemic.
Published on - Tuesday 15th December 2020
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The Faculty Addresses Brexit, post-COVID Challenges and Diversity
As incoming chair of the Faculty of Economics Professor Leonardo Felli has faced unprecedented challenges, and his first year would be unusual year in every possible way.
Published on - Monday 14th December 2020
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Professor Carvalho Awarded European Research Council Funding
Professor Vasco Carvalho has won a consolidator grant from the European Research Council, Europe’s premiere funding organisation for frontier research.
Published on - Monday 14th December 2020
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2020 Geneva Report Quoted
A report co-authored by Prof. Giancarlo Corsetti from the Faculty of Economics has been mentioned by Reuters. The 2020 Geneva Report looks at macroeconomic and financial instability and disruptive crises such as the COVID-19 pandemic.
Published on - Wednesday 16th December 2020
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Global Perspectives: Challenges for the 21st Century Entrepreneur
Dr. Kamiar Mohaddes discussed the economic consequences of COVID-19 and the implications for entrepreneurs, at the King's College special ‘Global Perspectives’ webinar.
Published on - Tuesday 15th December 2020
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Biodiversity and Ecosystems
Professor Sir Partha Dasgupta gave an interview to the House of Commons, Environment Audit Committee about the findings of his forthcoming independent report into the Economics of Biodiversity. Professor Dasgupta's report will be published early in 2021.
Published on - Monday 14th December 2020
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Testing Times: Assessments and Teaching in the Time of COVID-19
2020 has been a year like no other. Lectures are being delivered remotely, Zoom has become a familiar fixture in supervisions, and the most recent round of gruelling Economics Tripos examinations was held online. Dr. Aytek Erdil, Director of Teaching, looks back on tough calls and thoughtful adaptations made by the Faculty as the Covid-19 crisis unfolded.
Published on - Monday 14th December 2020
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Did the Office for National Statistics Really Produce ‘False Data’ on Coronavirus Infections?
Dr. Flavio Toxvaerd was quoted in The Independent newspaper. The article looks at the suggestion that data revisions on new coronavirus cases by the official statistics body indicate that the UK might have gone into lockdown in November unnecessarily.
Published on - Thursday 10th December 2020
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How Do Countries Effectively Come Out of Lockdown?
Dr. Flavio Toxvaerd was interviewed by China Central Television where he spoke about the Chinese Health Codes and how other countries are realising that to effectively come out of lockdown, there must be an effective method of tracing contacts of the virus. Further more an electronic tracking method is a must-have for home isolation and travel.
Published on - Wednesday 9th December 2020
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Good Health Policy Is Good Economic Policy
Dr. Flavio Toxvaerd has published a new blog for ProMarket (the online publication for The Stigler Center, University of Chicago Booth). Dr Toxvaerd's article "Managing the Covid-19 Pandemic: Good Health Policy Is Good Economic Policy" looks at the unavoidable link between health protection and wealth creation when choosing a response to the COVID-19 pandemic.
Published on - Wednesday 9th December 2020
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Cost & Benefit of Buying COVID-19 Vaccine
Dr. Kamiar Mohaddes was interviewed by Iranian newspaper, Donya-e Eqtesad, about the implications of COVID-19 for the Iranian economy and the difficulty for Iran to obtain a potential vaccine due to sanctions imposed on the country by US President Donald Trump.
Published on - Monday 7th December 2020
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Brexit - As Consumers, Britons have the Most to Lose
Dr. Meredith Crowley was interviewed about Brexit and it's effect on the UK economy, by the daily French newspaper La Croix. Dr Crowley answered questions on the proposed post-Brexit trade deals that Prime Minister Boris Johnson is negotiating with countries such as Japan, China and the US.
Published on - Tuesday 15th December 2020
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What COVID-19 Shows is That the Global Economy is Not Very Resilient
Dr. Kamiar Mohaddes was interviewed by the Times of India about his recent study on the economic consequences of Covid-19. Dr Mohaddes spoke about the direct and indirect effects of this, within the interconnected global economy and how climate change could also be hit severely by it.
Published on - Friday 4th December 2020
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No Country ‘immune’ to COVID-19 Economic Shock
Dr. Kamiar Mohaddes's research "A Counterfactual Economic Analysis of Covid-19 Using a Threshold Augmented Multi-Country Model" has been featured in an article for the University of Cambridge Research News. Dr Mohaddes suggests a lengthy global recession looms as a result of COVID-19, with no country "immune". However, economies such as China will fare better than much of the West.
Published on - Thursday 3rd December 2020
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Government Won’t Say How Much Tiered Restrictions Will Cost Economy
Dr. Flavio Toxvaerd was interviewed for the Channel 4 News website, where he commented that the key difficulty in analysing the effects of the lockdown is to assess what would happen with the disease and the economy in the absence of restrictions.
Published on - Wednesday 2nd December 2020
Tags:Government Paper Offers no Assessment of Economic Impact of Tier Restrictions
Dr. Flavio Toxvaerd was quoted in the Independent article "Government Paper Offers no Assessment of Economic Impact of Tier Restrictions". Dr Toxvaerd says the government's COVID analysis falls well short of a full impact study and will be of limited use to justify either lockdown2 or a return to a tiered system of regional restrictions.
Published on - Tuesday 1st December 2020
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European Economic Review Editorial Board
Dr. Chryssi Giannitsarou has joined the European Economic Review Journal Editorial Board. Dr Giannitsarou has agreed to be an Associate Editor for the journal, with immediate effect.
Published on - Friday 27th November 2020
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The Global Economic Consequences of COVID-19: A Multi-Country Analysis
Dr. Kamiar Mohaddes was a panellists at the World Council of Credit Union's Global Financial Symposium on the The Economic Impacts of Covid-19 on Credit Unions. Dr Kamiar Mohaddes presented his recent study entitled "A Counterfactual Economic Analysis of COVID-19 Using a Threshold Augmented Multi-Country Model" (joint with Alexander Chudik, M. Hashem Pesaran, Mehdi Raissi, and Alessandro Rebucci).
Published on - Thursday 26th November 2020
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Economics and the Epidemic: Models, Behaviour and Policy
Dr. Flavio Toxvaerd gave a virtual talk for Clare College on Tuesday 24 November 2020. His talk was on "Economics and the Epidemic: Models, Behaviour and Policy", which looked at how economists think about disease control and contrast it with the traditional approach adopted in epidemiology and public health.
Published on - Thursday 26th November 2020
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Managing COVID-19 Vaccines Rationally
Flavio Toxvaerd and Miltos Makris (University of Kent) have published an article for VOXeu titled "Vaccines against COVID-19 are on the horizon; now is the time to manage the transition rationally". This column examines how the prospect of a vaccine alters individuals’ incentives to self-protect and how the social planner would prefer the individual to behave, between now and the arrival of the vaccine.
Published on - Tuesday 24th November 2020
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Economic Consequences of Covid-19 - Iran and Global
Dr. Kamiar Mohaddes was interviewed for the Iranian newspaper, Donya-e-Eqtesad. The article looks at the impact of Covid-19 on the Iranian economy as well as the global economy. Dr Mohaddes's research into the economic consequences of Covid-19 (joint with Alexander Chudik (Dallas Fed), Hashem Pesaran (USC), Mehdi Raissi (International Monetary Fund), and Alessandro Rebucci (JHU)) was also featured as the front cover story on Iran's major weekly magazine, Tejarat-e-Farda.
Published on - Monday 23rd November 2020
Tags:Economics and the Epidemic
Dr. Flavio Toxvaerd will give a virtual talk for Clare College about "Economics and the Epidemic: Models, Behaviour and Policy", on Tuesday 24 November 2020 at 6.00pm. His talk will look at how economists think about disease control and contrast it with the traditional approach adopted in epidemiology and public health.
Published on - Thursday 19th November 2020
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Bristol Festival of Economics Ideas - Why Diversifying and Decolonising Economics Matters to Everyone
Dr Carolina Alves is curating two panels at the Bristol Festival of Economics Ideas. One on how the discipline of economics has been challenged about its Eurocentric nature. And a second on the extent to which the project of economic development has its basis in colonial power structures. See the event pages "Why Diversifying and Decolonising Economics Matters to Everyone" and "Decolonising Economics: What does it mean and how is it done?" for details.
Published on - Monday 16th November 2020
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Climate Change and the Economics of Biodiversity
Professor Sir Partha Dasgupta was among the panel of leading scientists, academics, businesspeople and activists for the BBC World Service - World Questions programme. The panel discussed the environment and what we can do to help it. Professor Dasgupta's interim report of his independent global review on the Economics of Biodiversity was published by the HM Treasury in April 2020.
Published on - Monday 16th November 2020
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Costs and Benefits of Circuit Breakers and Lockdowns
Dr. Flavio Toxvaerd was interviewed on BBC Radio Ulster for their weekly business and economy round up. Dr. Toxvaerd discussed the costs and benefits on the economy, of using circuit breakers and lockdowns to combat the spread of COVID-19.
Published on - Monday 16th November 2020
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Impact of a COVID Vaccine: Why we can’t cash in early
New research by Dr. Flavio Toxvaerd indicates when a Covid vaccine starts to become available to the public, it will change our behaviour, and people may have a strong incentives to increase social distancing.
Published on - Tuesday 24th November 2020
Curbing the Covid-19 Pandemic to Save the Economy
Dr. Flavio Toxvaerd is one of the economists featured in the Wall Street Journal article "Research Ties Curbing the Covid-19 Pandemic to Saving the Economy", which looks at the economists currently working on the economics of the pandemic and how the academic discipline combining economics and epidemiology is attracting new specialists.
Published on - Thursday 12th November 2020
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The Freeport Con
Dr. Meredith Crowley was quoted in the New Statesman article "The Freeport Con", which looks at the setting up of freeports as a post-Brexit trade policy. The UK government is championing these free economic zones, but experts are not convinced they will work.
Published on - Thursday 12th November 2020
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Costs and Benefits of Suppressing COVID-19
Dr. Flavio Toxvaerd was interviewed on BBC Scotland's Drivetime programme, where he talked about the costs and benefits of suppressing COVID-19 and made the point that perhaps rather than looking at the negative impact caused by the UK's second lockdown, we should be looking at it as an investment in the future.
Published on - Wednesday 11th November 2020
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How High is US-UK Trade on Joe Biden's Agenda?
Dr. Meredith Crowley gave a pre-recorded interview to Victoria Craig for the Marketplace Morning Report podcast. In the interview, Dr. Crowley talks about what a Joe Biden administration means for future UK-US trade relations and for Brexit. The Marketplace Morning Report is a BBC programme that broadcasts in the US on National Public Radio.
Published on - Tuesday 10th November 2020
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Lives Vs Livelihoods? The Economics of Controlling COVID-19
Dr. Flavio Toxvaerd took part in a roundtable discussion "The Economics of Covid-19 Suppression Measures", which looked at the economic costs and benefits of the UK's second nation lockdown. This online event was organised by the Tony Blair Institute For Global Change and took place on Friday 6th November 2020.
Published on - Tuesday 10th November 2020
Tags:Lockdowns Are Just One Tool
Dr. Flavio Toxvaerd was interviewed on BBC Scotland's Drivetime programme, where he talked about the UK's second lockdown being just one of the tools available to control COVID-19. He added that it does have a significant economic impact and is one of the most extreme of so called non-pharmaceutical interventions.
Published on - Monday 9th November 2020
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Do Lockdowns Simply Postpone The Pain Of Covid-19?
Dr. Flavio Toxvaerd and Dr. Chryssi Giannitsarou (with Ben Moll - LSE), have written a new entry for the Economics Observatory asking The Pound-of-Flesh Fallacy: Do Lockdowns Simply Postpone The Pain Of Covid-19?. This blog looks at the possibility that whatever measures are taken to reduce the spread of coronavirus, they are unlikely to reduce the ultimate death toll.
Published on - Monday 2nd November 2020
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Free School Meal Vouchers: An Opportunity to Level Nutritional Inequality?
In her recent working paper "Nutritional Inequality: The Role of Prices, Income, and Preferences", Dr Noriko Amano-Patiño suggests that the Government should look at the options for free school meals for children in the holidays, as an initiative to level nutritional inequalities.
Published on - Thursday 29th October 2020
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Indirect Costs of the UK’s Furlough Scheme
Dr. Christopher Rauh was interviewed on "Wake up to Money" on "BBC Radio 5 Live" where he discussed the indirect costs to the economy of the furlough scheme from people staying at home and preventing the economy from adapting to the new normal. He also compared job retention schemes in other countries to the UK's furlough scheme. Starts at 42.20.
Published on - Thursday 29th October 2020
Tags:European Economic Review Special Section
Dr. Flavio Toxvaerd will guest edit (co-edited with Cecile Aubert, University of Bordeaux and TSE) the European Economic Review Journal's Special Section on economics of infectious diseases and epidemics. This Section will collect accepted articles at the European Economic Review that pertain to Covid-19 and similar epidemics, and will allow for a faster average handling of submissions on this topic.
Published on - Wednesday 28th October 2020
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Professor Chris Abell FRS, FMedSci (1957 – 2020)
The Faculty of Economics and the University of Cambridge are saddened to announce that Professor Chris Abell, Pro-Vice-Chancellor for Research, one of the Managers of the Keynes Fund, Professor of Biological Chemistry and Todd-Hamied Fellow of Christ’s College, has died suddenly at the age of 62.
Published on - Wednesday 28th October 2020
US Elections - How a Biden Win Could Impact Brexit
Dr. Meredith Crowley was quoted the Le Soir newspaper article, "Brexit: does a “no deal” depend on the American election?", which looks at how a Joe Biden victory in the US Election could impact Brexit. The article is in Belgian.
Published on - Wednesday 28th October 2020
Tags:European Commission and De Nederlandsche Bank Conference Keynotes
Professor Giancarlo Corsetti has been invited to give two keynote speeches. The first is at the 23rd Annual Research Conference of De Nederlandsche Bank, "Monetary Non-Neutrality: The Real Effects of Monetary Policy in the Short and Long Run", on the 29th October 2020 and the second is the 2nd European Commission-JEDC conference "Secular Stagnation, Low Interest Rates and Low Inflation: Causes and Implications for Policy", on the 5th-6th November 2020.
Published on - Tuesday 27th October 2020
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Impact of COVID-19 Means Global Recession will be Long Lasting
New research by Dr. Kamiar Mohaddes suggests the global recession is likely to be long lasting, with no country escaping the impact of COVID-19 regardless of their mitigation strategy, or the effects of a new vaccine.
Published on - Wednesday 11th November 2020
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Tight Race in US Election 2020 Forecast
A new method of forecasting the US presidential race appears to show the Democrats will win the popular vote. The forecast is tight, but indicates voters have a short memory of seismic economic events over the past few years. Emeritus Professor Hashem Pesaran explains why his model would have also forecast the U.S. Presidential election of 2016 which caught many by surprise.
Published on - Friday 23rd October 2020
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Effect on Global Economy of Reimposed EU Lockdowns
Dr. Flavio Toxvaerd was interviewed for Cheddar News Network on Friday 23rd October 2020, where he discussed the reimplementation of lockdowns across Europe, due to the rise in COVID-19 cases and the global economic impact of this.
Published on - Tuesday 20th October 2020
Tags:Economic Consequences of Covid-19
Dr. Kamiar Mohaddes, with Alexander Chudik (Federal Reserve Bank of Dallas), M. Hashem Pesaran (University of Southern California), Mehdi Raissi (IMF) and Alessandro Rebucci (Johns Hopkins Carey Business School) have published an article for VOXeu titled "Economic Consequences of Covid-19: A Counterfactual Multi-Country Analysis".
Published on - Tuesday 20th October 2020
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Nobel Prize for Economist Who Gave Marshall Lecture
Paul Milgrom and Robert Wilson have been honoured with the Nobel prize for economics for their work on auction theory. Professor Milgrom visited the Faculty of Economics to give the Marshall Lecture in 2019, when he explained how the tools of game theory were applied to auctions. Dr Matthew Elliott looks at his work, that was instrumental in getting governments to use auctions instead of procurement, and how those auctions have enabled governments to raise revenue around the world.
Published on - Monday 19th October 2020
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Economic Impact From Covid
New research appears to indicate women on average have taken a larger economic impact than men as a result of Covid. Dr Christopher Rauh has examined the characteristics of workers furloughed in the UK during the coronavirus pandemic, and has found that women were much more likely to be furloughed. The prohibition on working whilst furloughed has also been routinely ignored, especially by men.
Published on - Tuesday 13th October 2020
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China's Economic Recovery Gains Momentum
China's economy is picking up steam as the country continues to steadily recover from the economic turmoil caused by the coronavirus pandemic. The world's second largest economy expanded 4.9% in the July-to-September quarter compared to a year ago, according to new Chinese government statistics. It's a V shaped recovery, according to Dr. Meredith Crowley. She was interviewed on BBC Radio 4's Today programme, and said retails sales are up, but only by 3.2%. However, the worry is that the virus could come back, and that would slow down China's economy again.
Published on - Monday 19th October 2020
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The Economics of a Green Recovery
Dr. Kamiar Mohaddes took part in the second of Centre for Science and Policy's (CSaP) Science, Policy & a Green Recovery Podcasts. Dr Mohaddes spoke about his two papers "A Counterfactual Economic Analysis of COVID-19 Using a Threshold Augmented Multi-Country Model" and "Long-Term Macroeconomic Effects of Climate Change: A Cross-Country Analysis".
Published on - Monday 19th October 2020
Tags:Public Investment for the Recovery Seminar
The Centre for Economic Policy Research, the Graduate Institute, Geneva and the International Monetary Fund are hosting an online seminar with Professor Giancarlo Corsetti Raphael Espinoza (IMF) and Beatrice Weder di Mauro (CEPR) on Wendesday 21st October 2020, from 1.30pm. The panel will be discussing the October 2020 chapter of the IMF's Fiscal Monitor Report. Register your interest on CEPR event page.
Published on - Wednesday 14th October 2020
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Deep Trade Agreements - World Bank Webinar
Dr. Meredith Crowley will be presenting new research on trade agreements at the World Bank's "The Economics of Deep Trade Agreements Seminar Series". Dr. Crowley's new paper is "The Value of Deep Trade Agreements in the Presence of Pricing to Market", and is joint with Lu Han (Cambridge-INET affiliate and Lecturer at Liverpool University) and Thomas Prayer (Faculty of Economics, PhD student).
Published on - Friday 16th October 2020
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Economics of Covid-19 and Brexit
Dr. Meredith Crowley was a panelist at the UK in a Changing Europe Isolation Insight Webinar, "Economics of Covid-19 and Brexit, revisited", where the panelists discussed the economics of the Covid-19 pandemic and the UK's exit from the EU. This online event took place on 15th October 2020.
Published on - Friday 16th October 2020
Tags:Pandemic Fears and Reactions
Dr. Flavio Toxvaerd was quoted in The Telegraph article "Fears Wet Weather Could Fuel Covid 19 Spread." and also commented on a recent No. 10 briefing where Boris Johnson shifted emphasis from blanket lockdowns to the use of regional and local measures for Science Media Centre "Expert Reaction to No. 10 Press Briefing on 30th September "
Published on - Tuesday 6th October 2020
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Election Shock: Social Networks and Confirmation Bias
The prominent role of social media in elections exacerbates the tendency of voters to disregard information contrary to their beliefs, according to two University of Cambridge researchers. Dr Edoardo Gallo and Alastair Langtry in the new working paper 'Social networks, Confirmation Bias and Shock Elections' suggest this behaviour risks shock election outcomes, and pushes fringe media organisations to take even more extreme standpoints.
Published on - Monday 2nd November 2020
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Teaching, Learning & Innovation Fund Award
Dr. Toke Aidt, Mr. Oleg Kitov and Dr. Vasileios Kotsidis have been awarded a grant by the Teaching, Learning & Innovation Fund (TLIF). Their project is titled "Learning By Doing: Introducing Practice Tests and Sustainable Feedback in the Economics Tripos".
Published on - Monday 5th October 2020
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Lessons from the Financial Crisis, Debt Crisis and Coronavirus Crisis
Dr. Petra Geraats gave an invited presentation on "The ECB's Monetary Strategy: Lessons from the Financial Crisis, Debt Crisis and Coronavirus Crisis" at the conference "The ECB and Its Watchers" at Goethe University in Frankfurt on 30th September 2020. The conference forms part of the monetary policy strategy review that the European Central Bank (ECB) launched on 23rd January 2020.
Published on - Friday 2nd October 2020
Tags:What To Do If COVID-19 Is Here To Stay
Dr. Chryssi Giannitsarou and Flavio Toxvaerd's VOXeu "What To Do If COVID-19 Is Here To Stay" was quoted in Jeffrey Sparshott's Wall Street Journal Economics Blog "Newsletter: Expiration Date".
Published on - Tuesday 6th October 2020
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Welcome to Professor Eric French
The Faculty of Economics is delighted to welcome Professor Eric French to his position as the Montague Burton Professor of Industrial Relations and Labour Economics. Professor French joins us from University College London. His areas of expertise are labour economics, public finance and applied econometrics.
Published on - Thursday 1st October 2020
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Ideas of India Podcast
Dr Sriya Iyer was interviewed by Dr Shruti Rajagopalan for the Ideas of India podcast (Mercatus Center, Washington DC). They spoke about Dr Iyer's "The Economics of Religion" book and the links between economics and religion in India and the rise of Hindu nationalism. You can read and listen to the interview on the Mercatus Discourse website.
Published on - Thursday 1st October 2020
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The Master And The Prodigy
There is little doubt that John Maynard Keynes fundamentally shaped economics and policymaking in the twentieth century. Less appreciated is that he owes some of his central insights to a brilliant Cambridge polymath who died in 1930 at age 26. Want to know more? Read Dr. Bill Janeway’s essay.
Published on - Wednesday 30th September 2020
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The Economics of Infection
Dr. Flavio Toxvaerd was quoted in the following news outlets; the New Scientist, Medscape, The Sun and the Huffington Post, about his ongoing research into "The Economics of Infection". Dr Toxvaerd has also published a new blog for Economics Observatory, "Externalities: Why Do We Need Coordinated Public Action In The Pandemic?".
Published on - Tuesday 29th September 2020
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IMF Publishes New Central Bank Transparency Code
As part of a High-Level Advisory Panel, Dr. Petra Geraats helped shape a new Central Bank Transparency Code, which has been published by The International Monetary Fund (IMF). The new Code, which has been approved by the IMF's Executive Board, replaces the IMF's Monetary and Financial Policies Transparency Code from 1999.
Published on - Tuesday 29th September 2020
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Covid-19 Policy Response Open Letter
Dr. Flavio Toxvaerd was asked by the Science Media Centre to comment on this open letter to the Prime Minister and his team from a group across medicine, academia and other areas "Covid-19 policy response Open Letter" and Dr. Toxvaerd’s responses were published on the "Science Media Centre site.
Published on - Friday 25th September 2020
Tags:What Data is Driving the UK’s New COVID-19 Restrictions?
Dr. Flavio Toxvaerd was quoted in the Independant "What is the Data Driving the UK’s New Coronavirus Restrictions?" and Daily Mail "Projection versus Reality – Experts say Britain Falls Short." in which Dr Toxvaerd claims that projections often rely ‘on behavioural assumptions that are unlikely to be borne out in practice and so the projections often look too gloomy in retrospect'.
Published on - Wednesday 23rd September 2020
Tags:Testing Meritocracy in University Admissions
Dr. Debopam Bhattacharya and Renata Rabovic (former Postdoctoral Researcher, Faculty of Economics) have published an article for VOXeu titled "Testing Meritocracy in University Admissions". This column uses a novel, outcome-based test of merit-based admissions at Cambridge University, to look at the controversial issue of the balance between merit and diversity in university admissions.
Published on - Monday 21st September 2020
Female Researchers and Publications During COVID-19 Podcast
Dr Noriko Amano Patino was interviewed for the Cambridge Centre for International Research’s Ideas & Innovation Talk Series about her joint paper with Elisa Faraglia, Chryssi Giannitsarou and Zeina Hasna titled "The Unequal Effects of Covid-19 on Economists' Research Productivity" which looks at the unequal effects of COVID-19 on research productivity.
Published on - Friday 18th September 2020
Tags:Post-Pandemic Debt Sustainability in the EU/Euro Area
Professor Giancarlo Corsetti and Lorenzo Codogno (Visiting Professor in Practice, LSE) have published an article for VOXeu titled "Post-Pandemic Debt Sustainability in the EU/Euro Area: This Time May (and should) Be Different". This column suggests that the implementation of The EU Recovery Plan could give a substantial boost to the economy and fiscal revenues under very conservative assumptions on multipliers.
Published on - Friday 18th September 2020
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Citigroup Names Jane Fraser as New CEO
On 10 September, Citigroup named Cambridge Economics Alumna Jane Fraser as their new chief executive. This is the first time that a woman has been appointed as CEO of a large Wall Street bank. Jane Fraser attended Girton College between 1985 and 1988 and graduated with a BA from the Economics Tripos in 1988. The Faculty of Economics would like to congratulate her on this historic and prestigious appointment.
Published on - Tuesday 15th September 2020
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Appointed to Board of Economists, São Paulo
We are pleased to announce that Dr Tiago Cavalcanti has been appointed to join the Board of Economics of the State of São Paulo in Brazil. The group will provide external expert economic analysis, current and future financial outlooks, and advice to the governor of São Paulo and state secretaries.
Published on - Wednesday 16th September 2020
Tags:Working From Home: The Polarising Workplace
Dr Christopher Rauh, with Abi Adams-Prassl (University of Oxford), Teodora Boneva (University of Zurich) and Marta Golin (University of Oxford) have published an article for VOXeu titled "Working From Home: The Polarising Workplace". This column uses survey data from the US and the UK to demonstrate systematic variation in individuals’ ability to work from home both across and within occupations and industries.
Published on - Wednesday 9th September 2020
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COVID-19 Symposium of the EEA
Dr. Flavio Toxvaerd spoke recently about ‘Future Challenges for Economic Epidemiology’ at the COVID-19 Symposium of the European Economic Association. A video of Dr. Toxvaerd's talk is available to watch on the EEA youtube channel.
Published on - Monday 7th September 2020
Tags:D-DebtCon Webinar
Prof. Giancarlo Corsetti will be speaking at the D-DebtCon Webinar entitled ‘Sovereign Debt in the European Union’ on 8 September 2020 at 3.30PM CEST on ‘Debt Crises Fast and Slow’. See the Programme and Registration details.
Published on - Tuesday 1st September 2020
Tags:Behaviour and Mandatory Face Masks
Dr. Flavio Toxvaerd has written a new entry for the Economics Observatory asking Do people change their behaviour when face masks are mandatory?
Published on - Tuesday 1st September 2020
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European Parliament and Future EU-UK Trade Relations Webinar
Dr. Meredith Crowley will be a panellist on the live webinar "The European Parliament and Future EU-UK Trade Relations", organised by the European Parliament Liaison Office in the United Kingdom. The webinar will take place on Thursday 3rd September 2020, between 12:30-2:00pm. It is open to all and registration is free.
Published on - Thursday 23rd July 2020
Tags:EEA Congress Covid 19 Symposium
Dr. Flavio Toxvaerd will be speaking at the Covid 19 Symposium on August 28th 2020 at 15.30 CEST organised by the EEA Congress and will look at future challenges for the epi-economics literature. Prof. Oriana Bandiera Prof. Oriana Bandiera will discuss the impact on lower-income countries and appropriate policy responses while Prof. Daron Acemoglu Prof. Daron Acemoglu looks at the political ramifications of the crisis.
Published on - Friday 28th August 2020
Tags:Production Network Analysis and COVID-19 Policy
Professor Vasco Carvalho and Professor Andrea Galeotti (London Business School) have published an article for Economics Observatory on "How Can Production Network Analysis Inform Policy on COVID-19?". This article looks at how production network analysis can provide insights into the effects of imposing and lifting lockdowns, which in turn can lead to policies to support recovery.
Published on - Tuesday 25th August 2020
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Herd Immunity – Crucial Yet Irrelevant
Dr. Flavio Toxvaerd has published a new Bennett Institute for Public Policy blog "Herd Immunity – Crucial Yet Irrelevant" and working paper "On the Management of Population Immunity" (joint with Prof. Robert Rowthorn). Both the paper and blog look at the use of costly treatments or vaccinations on infectious diseases and the idea that once immune, individuals indirectly protect the remaining susceptibles, who benefit from a measure of herd immunity.
Published on - Tuesday 18th August 2020
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Economic Aspects of the COVID-19 Crisis in the UK
Professor Vasco Carvalho and Dr Flavio Toxvaerd are among the authors of a Royal Society DELVE Initiative Report which looks at the new challenges for the economy and public health that the COVID-19 Pandemic will bring over the coming years.
Published on - Friday 14th August 2020
Tags:Economics of Brexit Conference For Early Career Researchers - Call for Papers
The UK in a Changing Europe, supported by Cambridge-INET, is organising a one-day virtual conference on the Economics of Brexit for Early Career Researchers (untenured assistant professors, postdocs, and PhD students) to take place on the 22nd September 2020, via Zoom. The deadline for submissions is 4th September 2020.
Published on - Thursday 13th August 2020
Tags:The Heterogeneous Transmission of ECB Policies in a Post-COVID Europe
Professor Giancarlo Corsetti, Joao B. Duarte (Nova School of Business and Economics) and Samuel Mann (IMF) have published an article for VOXeu titled "The Heterogeneous Transmission of ECB Policies: Lessons for a Post-COVID Europe". This column suggests that the disruption to market integration brought about by the COVID-19 crisis may create further challenges to conducting monetary policy in the euro area.
Published on - Friday 7th August 2020
Tags:Can Social Distancing Improve the Trade-off Between Health and the Economy?
Professor Giancarlo Corsetti will give the Cambridge Institute of Therapeutic Immunology and Infectious Disease's COVID-19 Weekly Webinar on "Can Social Distancing Improve the Trade-off Between Health and the Economy?". The webinar will take place online on Thursday 6th August 2020 at 2.00pm and will be hosted by Dr. Nicholas Matheson (CITIID PI and consultant in Infectious Diseases).
Published on - Wednesday 5th August 2020
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Ellen McArthur Prize for Best Dissertation in Economic History
The Faculty is delighted to announce that Emma Taylor from Pembroke College has won the Ellen McArthur prize for best dissertation in Economic History. Emma’s dissertation on ‘Spatial autocorrelation and its impact on the validity of persistence studies’ was selected as the best contribution to economic history submitted this year, in either the Faculty of Economics or the Faculty of History.
Published on - Monday 27th July 2020
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Adam Smith Prize Winners 2020
The Faculty is proud to announce the winners of the Adam Smith Prize for 2020. The prize for best overall performance was shared by Liam Grant (St John’s College), David Lee (Christ’s College) and Neal Patel (Homerton College). The prize for the best dissertation was awarded to Andrew Koh (Hughes Hall) and Michael Bennett (St John’s College).
Published on - Monday 27th July 2020
Tags:Fellowship of the British Academy
The Faculty would like to congratulate Professor Giancarlo Corsetti, who has been elected a Fellow of the British Academy. A Fellowship of the British Academy (FBA) is an award granted by the British Academy to leading academics for their distinction in the humanities and social sciences.
Published on - Friday 24th July 2020
What to do if COVID-19 is Here to Stay
Dr. Chryssi Giannitsarou and Flavio Toxvaerd have published an article for VOXeu titled "What To Do If COVID-19 Is Here To Stay". This column considers the possibility that immunity is only temporary, which in practice, means that partial lockdowns and social distancing measures may be the norm for years to come.
Published on - Monday 20th July 2020
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Keynes Fund 17th Call for Projects
The Keynes Fund has announced it's 17th Call for Projects. The deadline for project proposals is 30th September 2020. Please see the Keynes Fund site for the criteria and details of the project applications process.
Published on - Monday 20th July 2020
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ASREC 24 hour Conference Event - Call for Papers
The Association for the Study of Religion, Economics, And Culture (ASREC) will hold a 24 hour virtual conference on the 20th November 2020. Ahead of this event, they have just released a Call for Papers. The deadline to submissions is the 18th September 2020. Dr Sriya Iyer is part of the Organizing Committee for the Europe/Africa/MENA regions.
Published on - Thursday 2nd July 2020
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Amartya Sen Lecture, HDCA Conference - Video
Dr. José Gabriel Palma, who retired from his Senior Lectureship in the Faculty in 2014, delivered the "Amartya Sen Lecture" at this years Human Development and Capability Association Conference in New Zealand (Online). The title of his lecture was "What Went Wrong With European Social Democracy: On Building a Debilitating Capitalism, Where Even the Welfare State Subsidises Greater Market Inequality".
Published on - Tuesday 30th June 2020
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How Do People React To Lockdown?
Dr. Weilong Zhang and Xiaomeng Li (MPhil Student) have just published a Special Feature on The COVID-19 Economic Research website about "Pandemic Personalities: How do People React to Lockdown?", which explores whether a persons personality traits have an effect on their response to the COVID-19 crisis.
Published on - Friday 26th June 2020
Tags:Faculty Academic Promotions 2020
The Faculty of Economics is very pleased to announce that Dr. Aytek Erdil has been promoted to a University Readership. This promotion will come into effect from 1st October 2020.
Published on - Thursday 25th June 2020
Emerging Market Currency Risk Around ‘Global Disasters’
Professor Giancarlo Corsetti has had a chapter published in CEPR's ebook "COVID-19 in Developing Economies". The chapter "Emerging Market Currency Risk Around ‘global disasters’: Evidence from the Global Financial Crisis and the COVID-19 Crisis" (joint with Simon Lloyd (Bank of England) and Emile Marin (PhD Candidate))
Published on - Wednesday 24th June 2020
Tags:UK-US Trade Deal Negotiations
Dr. Meredith Crowley gave testimony to the House of Commons International Trade Committee, via Zoom, on the 17th June 2020. You can watch a video of the meeting on the parliamentlive.tv website.
Published on - Monday 22nd June 2020
Tags:The Brexit Negotiations: A Stocktake
Dr. Meredith Crowley is one of the authors of a new report called "The Brexit Negotiations: A Stocktake", published by academic think tank UK in a Changing Europe. This report finds that it is hard to see how the sort of comprehensive deal the UK and EU say they want can be agreed without an extension.
Published on - Thursday 18th June 2020
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CERF Best Student Paper Award
The Faculty and Cambridge-INET Institute would like to congratulate PhD candidate and Cambridge Trust Cambridge-INET Scholarship student, Seung Hyun Maeng, who was one of just three students to win the CERF best student paper award for his paper "Debt Crises, Fast and Slow" (joint with Giancarlo Corsetti).
Published on - Friday 12th June 2020
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Can Social Distancing Improve the Trade Off between Health and Economy?
Professor Giancarlo Corsetti's article entitled "Can Social Distancing Improve the Trade Off between Health and Economy?", which discusses how public health measures such as social distancing can reduce deaths by keeping the number of infected individuals from exceeding the capacity of the health care system has been featured by CNN and Trends (in Dutch).
Published on - Thursday 4th June 2020
Tags:Will ‘level playing field’ Issues Derail the UK-EU Negotiations?
UK in a Changing Europe have published a blog by Dr. Meredith Crowley and Dr. Lu Han on "Will ‘level playing field’ Issues Derail the UK-EU Negotiations?" The blog poses that key question now is whether the two sides will be able to bridge the gap in a way that facilitates continued negotiation and, ultimately, a free trade deal.
Published on - Tuesday 2nd June 2020
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Monetary Networks - Project
Dr Edoardo Gallo has been awarded a grant by the International Foundation for Research in Experimental Economics (IFREE) for a project on "Monetary networks". The project is led by Dr. Gallo as principal investigator (PI) in collaboration with Professor Maria Bigoni (University of Bologna) and Professor Gabriele Camera (Chapman University).
Published on - Sunday 24th May 2020
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Are Women Publishing Less During the Pandemic?
Dr Noriko Amano Patino's VOXeu article and paper (joint with Elisa Faraglia, Chryssi Giannitsarou and Zeina Hasna), entitled "Who is doing new research in the time of COVID-19? Not the female economists" was quoted in the Nature article "Are Women Publishing Less During the Pandemic?" which looks at the unequal effects of COVID-19 on research productivity.
Published on - Friday 29th May 2020
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Is this the End of Globalisation?
Dr. Ha-Joon Chang was interviewed by Matthew Taylor (Royal Society of Arts, Chief Executive) as part of the RSA special interview series "Bridges to the Future - Response to Covid-19". This series aims to assess the scale of the COVID-19 response and consider how we build effective bridges to our new future.
Published on - Tuesday 19th May 2020
Tags:Perpetual Bonds are not the Best Way to Finance the European Recovery Fund
Professor Giancarlo Corsetti, Aitor Erce and Antonio Garcia Pascual's article "Perpetual bonds are not the best way to finance the European Recovery Fund" has been featured by VoxEU CEPR Policy Portal. This column looks at the potential gains of using European borrowing and lending as two separate policy levers, instead of financing the ERF using joint perpetual debt.
Published on - Monday 18th May 2020
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Athena SWAN Bronze Award 2020
The Faculty of Economics is pleased to announce that it has been formally recognised for its commitment to equality by achieving the Athena SWAN Bronze award for the first time.
Published on - Monday 18th May 2020
Will the UK’s Free Ports Project Survive Covid-19?
Dr. Meredith Crowley was quoted in the New Statesman article "Will the UK’s free ports project survive Covid-19?" which looks at the delays and possible cancellation of UK free ports project after the COVID-19 crisis.
Published on - Wednesday 13th May 2020
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Lindau Meeting on Economic Sciences
The Faculty would like to congratulate PhD candidates Keith Chan and Lukas Freund, who have been selected to attend the Lindau Meeting on Economic Sciences. This event gathers young economists from around the globe and Laureates in Economic Sciences, for an in-depth exchange of knowledge and ideas.
Published on - Thursday 7th May 2020
The Economics of Biodiversity
Professor Sir Partha Dasgupta will be talking to Minouche Shafik (LSE Director) about his research into "The Economics of Biodiversity". The virtual event will take place on Thursday 7th May 2020 1.00pm to 2.00pm and is hosted by the Grantham Research Institute on Climate Change and the Environment. Please see the LSE event page for details and to register your interest.
Published on - Wednesday 6th May 2020
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Transatlantic Trade and Economic Cooperation through the Pandemic
Dr. Meredith Crowley will join Ed Balls, Nick Macpherson, and George Osbourne to discuss Covid-19 and the next round of the UK-US Free Trade Agreement at a webinar organised by The Strand Group. Please register to watch the webinar.
Published on - Tuesday 5th May 2020
Tags:Who is Doing New Research in the Time of COVID-19?
Dr. Noriko Amano-Patiño, Dr. Elisa Faraglia, Dr. Chryssi Giannitsarou and PhD candidate Zeina Hasna have published an article for VOXeu titled "Who is doing new research in the time of COVID-19? Not the female economists". This column suggests that the effects of lockdowns on the division of labour at home have been particularly detrimental to the research activity of women.
Published on - Monday 4th May 2020
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Can Social Distancing Improve Trade Between Health And Economy?
Professor Giancarlo Corsetti's research entitled "Can Social Distancing Improve Trade Between Health And Economy?" has been featured by CNBC and University of Cambridge Research News.
Published on - Friday 1st May 2020
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Economics of Biodiversity
Professor Sir Partha Dasgupta's interim report of his independant global review on the Economics of Biodiversity has been published by the HM Treasury. The Review was commissioned last year by HM Treasury and is supported by an Advisory Panel drawn from public policy, science, economics, finance and business.
Published on - Friday 1st May 2020
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COVID-19: Beyond the Virus
Dr. Christopher Rauh has been interviewed about his research in a Naked Scientists podcast entitled "COVID-19: Beyond the Virus" which looks at the impacts of coronavirus beyond the virus: how is it hitting economies, universities and our mental wellbeing plus, researchers come up with a way out of the lockdown.
Published on - Thursday 30th April 2020
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Mark Hayes 1956-2019
The Faculty is saddened to announce that Mark Hayes passed away on 15th December 2019. He was the Director of Studies in Economics at Robinson College from 2009-2014 and an Affiliated Lecturer in the Faculty from 2013-2015.
Published on - Wednesday 29th April 2020
Is The ESM’s Pandemic Crisis Support Fit For Purpose?
Professor Giancarlo Corsetti, and Aitor Erce have published an article for VOXeu titled "Maturity, Seniority and Size: Make sure the ESM’s pandemic crisis support is fit for purpose!". This column looks at the discussions around the European Stability Mechanism (ESM) credit line and if the ESM should consider waiving its seniority and engaging with countries using longer maturity structures.
Published on - Wednesday 29th April 2020
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COVID-19 is Not World War II - William H. Janeway
Dr. William H. Janeway's article titled "Covid 19 is not World War II" which discusses how the COVID-19 era has little in common with the US mobilization for war in the 1940s has appeared in Project Syndicate.
Published on - Tuesday 28th April 2020
Tags:Are COVID-19 Lockdowns Distorting Inflation?
Professor Vasco Carvalho's research on the “real time evolution” of economic activity during the COVID-19 pandemic has been featured in The Economist. His research has also appeared in the University of Cambridge Research News, the El Pais Newspaper and a number of other Spanish media outlets,
Published on - Friday 24th April 2020
Tags:COVID-19 and the Effect on Workers
Dr. Christopher Rauh's research into The Economic Impact of COVID-19 on Workers has been featured in by number of media outlets, including The Economist, The Telegraph, The Independent, The Times, The Guardian, The Washington Post, Wired, Vice, Mirage News, BBC Newsnight and University of Cambridge Research News.
Published on - Thursday 23rd April 2020
Tags:The COVID-19 Crisis Through the Lens of 1.4 Billion Transactions
Professor Vasco Carvalho working with economists at University of Edinburgh, Imperial College and at the Spanish bank BBVA, one of the largest financial institutions in the world, studies the “real time evolution” of economic activity during the COVID-19 pandemic.
Published on - Wednesday 15th April 2020
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Professor Jane Humphries awarded RES Prize
Jane Humphries, who was Lecturer and then Reader in the Faculty (and a Fellow of Newnham College) from 1979 to 1999, has with Jacob Weisdorf been awarded the Royal Economic Society Prize for their ground breaking work on `Unreal Wages? Real Income and Economic Growth in England, 1260-1850,’ in which they argue that that modern economic growth started not in the 19th century, as is typically argued, but in the late 16th Century, some 200 years earlier than previously thought.
Published on - Tuesday 14th April 2020
The Dollar and International Capital Flows in the COVID-19 Crisis
Professor Giancarlo Corsetti, and Emile Marin have published an article for VOXeu titled "The dollar and international capital flows in the COVID-19 crisis". This column shows that in crises, the dollar tends to appreciate – especially against emerging market currencies – and dollar liquidity becomes scarce.
Published on - Friday 3rd April 2020
Tags:The Economic Impact of COVID-19 on Workers
Dr. Christopher Rauh (joint with former PhD student Teodora Boneva, Abi Adams-Prassl and Marta Golin) has just published two working papers looking at the economic impacts of COVID-19 on workers in the UK and US.
Published on - Thursday 2nd April 2020
Tags:Covid Economics: A Real-Time Journal
Professor Giancarlo Corsetti joins the editorial board promoting, "Covid Economics: A Real-Time Journal (CEJ)". The Centre for Economic Policy Research (CEPR) has decided to launch this new online peer-reviewed review to disseminate emerging scholarly work on the Covid-19 epidemic. CEPR have just published Covid Economics: Vetted and Real-Time Papers Issue 1.
Published on - Saturday 28th March 2020
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Is Panic Buying Irrational?
Dr. Juan Block was interviewed by Lizzy Burden of The Telegraph, for the article "Is Panic Buying Irrational? Here's Why It Can Seem To Make Economic Sense", which discusses different theoretical rationale behind panic buying.
Published on - Monday 23rd March 2020
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Iran Faces Fourth Crisis in Oil Crash
Dr. Kamiar Mohaddes was interviewed by Newsweek in the article "Iran Faces Fourth Crisis in Oil Crash Amid U.S. Sanctions, Coronavirus and Protests", which looks at the role of the corona virus, U.S. sanctions, and the slow down in oil markets on the Iranian economy.
Published on - Thursday 12th March 2020
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Economics of Religion in India - DFID Video
Dr. Sriya Iyer was invited by the Chief Economist's Office at the UK Department for International Development (DFID) to give a talk on her research on the economics of religion in India. The talk took place on the 9th March 2020 in London and before the talk Anna Rudge (a Senior Economic Adviser to the Chief Economist), conducted a 3-minute interview with Dr. Iyer on her main research findings.
Published on - Wednesday 11th March 2020
Tags:Brexit Breakdown - Podcast
Dr. Meredith Crowley and Raoul Ruparel (former special advisor to Theresa May) took part in a Brexit Breakdown podcast, for The UK in a Changing Europe. This episode looks at the UK-EU trade talks, the possibility of a deal by the end of December and the likelihood of a UK-US trade deal.
Published on - Friday 6th March 2020
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Women in Economics - CEPR eBook 
Professor Sanjeev Goyal, Dr. Anja Prummer (former Cambridge-INET Postdoctoral Research Fellow, Queen Mary University of London) and Dr. Lorenzo Ductor (University of Granada) have written a chapter "Gender and Collaboration" for the new CEPR eBook Women in Economics.
Published on - Friday 6th March 2020
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Call for Papers - Deadline 15th May 2020
Paper proposals are invited for the 51st Annual Conference of the Money Macro and Finance Society, from academic, government and business economists in any area of monetary, macro and financial economics. The conference will be held at Clare College, Cambridge, on 1st-3rd September 2020. The deadline for this call is 15th May 2020.
Published on - Tuesday 25th February 2020
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Putting a Dollar Value on Biodiversity
Professor Sir Partha Dasgupta was interviewed by Radio New Zealand about his research into biodiversity, particularly his Review of the Economics of Biodiversity and his pioneering work into Inclusive Wealth Index, that aims to puts a monetary value on natural resources.
Published on - Tuesday 18th February 2020
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Royal Economic Society Annual Conference 2020
Registration for the Royal Economic Society Annual Conference 2020 in Belfast from April 6th-8th is now open HERE. The Annual Conference brings together hundreds of academic and professional economists to present the latest developments in economics. Dr. Sriya Iyer is Deputy Chair for the RES Annual Conference 2020.
Published on - Tuesday 11th February 2020
Brexit Day - UK and EU Trade Deal
Dr. Meredith Crowley was interviewed by BBC World Service's World Update programme about the prospect for the UK and EU negotiating a trade deal modelled on the EU's deal with Canada. You can listen to the programme on the BBC website (story starts at 6mins).
Published on - Friday 31st January 2020
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Hopes for Economics in the 2020s – British Academy Blog
The British Academy blog has published an essay by nine Fellows of the Academy on how the humanities and social sciences could shape the 2020s. Professor Sheilagh Ogilvie writes of her hopes for economics and economic history.
Published on - Wednesday 29th January 2020
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The Value of International Electricity Trading
Professor David Newbery was the lead author on the Ofgem commissioned report "The Value of International Electricity Trading". The report written by researchers from University of Cambridge and University College London (UCL), looked into cross-border electricity trading between Great Britain and connected European Union markets, and is intended to inform Ofgem’s State of the Energy Market report.
Published on - Monday 27th January 2020
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Is the UK headed for a trade war with the US?
Dr. Meredith Crowley was interviewed by BBC Radio Scotland about the UK's proposed digital sales tax and whether it will lead to a trade war with the US. You can listen to the programme on the BBC website (starts at 1h 06m).
Published on - Monday 27th January 2020
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Growth: Cautionary Tales from History - Cabinet Office Blog
The Cabinet Office blog has published an essay by Professor Sheilagh Ogilvie on her 2019 Thought Experiment Lecture at the Treasury. Prof. Ogilvie's Open Innovation essay presents highlights of her lecture, with accompanying video interview on working with policymakers, and a link to a full-length summary of her lecture.
Published on - Friday 24th January 2020
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UK and US Battle Over Digital Services Tax
Dr. Meredith Crowley was interviewed on BBC Radio 4's Today Programme, discussing the US-UK spat over a proposed digital services tax on. You can listen to the programme on the BBC website (starts at 1h 25m).
Published on - Thursday 23rd January 2020
Tags:Keynes Fund 16th Call for Projects
The Keynes Fund has announced it's 16th Call for Projects. The deadline for project proposals is 27th March 2020. Please see the Keynes Fund site for the criteria and details of the project applications process.
Published on - Wednesday 15th January 2020
Tags:Banks Do Not Create Money Out Of Thin Air
In recent years, some have claimed that banks create money ‘ex nihilo’. In the most read column this month for VoXEU "Banks Do Not Create Money Out Of Thin Air", Dr. Pontus Rendahl and (PhD Student) Lukas B. Freund explain that banks do not create money out of thin air, that there are no magic money trees.
Published on - Tuesday 7th January 2020
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How Do Central Banks Communicate Effectively?
Dr. Petra Geraats was a speaker at the High-Level Peer-to-Peer Forum "Central Bank Communications in ASEAN-5 Countries: From Principles to Practice" organized by the International Monetary Fund (IMF) in Singapore on 4th-5th December 2019.
Published on - Thursday 2nd January 2020
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