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05/02/2016 - One should not rule out interest rate rises yet

Dr Andrew Lilico has appeared on BBC Radio 4 Today to discuss the UK's growth rate and interest rates (Andrew's segment begins at 15:50).

28/01/2016 - Europe Economics January newsletter issued

Our January newsletter has been issued. If you would like to be added to our mailing list please sign up on the newsletter page of our website.

27/01/2016 - Working Paper: The Relevance of Fairness in Decision Making and Policy Design

Our Analyst, Marika Hegg, has wirtten a working paper on the relevance of fairness in decision making and policy design. International climate policy is one of the today’s inevitable examples of the importance of voluntary cooperation. Differences in size, perception of damages, political structures and beliefs about the impact of climate change makes fairness a central discussion in climate negotiations. In the run-up to the latest meeting of the Parties to the Kyoto Protocol, the UN’s special envoy on climate change said these talks are too dominated by men, to the detriment of effective action on saving people from the ravages of global warming. There is indeed a clear distinction in the world today in the division between female and male leaders both in politics and in businesses; but more women aim for leading positions in politics today. It is therefore of interest to evaluate the differences in preferences between the genders, and how the increase of female leaders could alter the decisions made in politics.  

27/01/2016 - Working Paper: Cost of Regulatory Error when Establishing a Price Cap

One of our Anaylsts, Dr Nadia Chernenko, has written a working paper on the cost of regulatory error when establishing a price cap. Regulators often motivate their wish to impose a price cap by care for consumers. We use a simple model to demonstrate that a price cap maximising consumer surplus can be non-optimal from the perspective of total social welfare. Further, the regulators might obtain incorrect evaluation of price dynamics or incomplete information on producer cost which is likely to aggravate the negative impact of a mis-specified price cap on both consumer surplus and social welfare.

26/01/2016 - Three things everyone knows about the Sharing Economy that are probably wrong

Matthew Sinclair has written a blog piece for the Institute of Economic Affairs dispelling some of the theories that are associated with the sharing economy.