Seven InstEAD researchers and research affiliates presented at the Royal Economic Society (RES) Annual Conference in Bristol 10-12 April 2017.
Dr Philip Powell presented a research paper ‘Social Media Use and Young People’s Wellbeing’ co-authored with Dr Emily McDool, Professor Jennifer Roberts and Profesor Karl Taylor.
Dr Emily McDool presented her research ‘The Effect of Primary Converter Academies on Pupil Performance’.
Dr Daniel Gray presented research with Professor Sarah Brown, Professor Pulak Ghosh and Dr Bhuvanesh Pareek (Indian Institute of Management) and Professor Jennifer Roberts ‘Saving Behaviour and Biomarkers: A High-Dimensional Bayesian Analysis of British Panel Data’.
InstEAD Director of Research Dr Gurleen Popli presented a paper ‘A Dynamic Analysis of Skill Formation and NEET Status’.
Dr Anita Ratcliffe presented her research ‘The Impact of the London Bombings on the Well-being of Adolescent Muslims’.
InstEAD co-director Professor Sarah Brown presented her research with Dr Daniel Gray, Professor Mark Harris (Curtin University) and Dr Christopher Spencer (Loughborough University) ‘Portfolio Allocation, Background Risk and Households’ Flight to Safety’
Dr Alberto Montagnoli presented research with Dr Daniel Gray and Dr Mirko Moro (University of Stirling) ‘Does Education improve Financial Outcomes? Quasi-experimental Evidence from Britain’.
Professor Diane Coyle gave a fascinating InstEAD Annual Lecture on how current definitions of Gross Domestic Product (GDP) are inadequately accounting for the digital economy.
Diane’s lecture addressed how historically economics has dealt with new technological developments and how the current measure of GDP accounts for the buying and selling of goods and services but excludes non-financial activities such as caring for children and open source innovation that has emerged online.
Diane argued that the digital consumption of goods has had a wider impact on the economy. For example, movie rental and music shops common on our high streets 20 years ago have been replaced by Netflix and Spotify consumed digitally in our homes or mobiles. The impact has been that investment in buildings by retail companies has declined and a further drop can be seen in capital investment by the banking and finance industry.
A correlation can be observed between the productivity problem of the UK – where real GDP has not increased significantly since 2007 – and the sharp increase in smartphone sales around the same time. Diane argued that many of the goods we would buy such as games, books, maps, watches, diaries and calculators are replaced by smartphones and their apps.
Finally, Diane discussed moving away from GDP to a new measure of our economy that uses metrics such as living standards and wellbeing rather than simply transactional goods and services. An example of such a measure is the Social Progress Index.
Diane outlined an initial cost to countries that adopted this new measure. But if there were sufficient early adopters who switched, there could be collective benefits.
InstEAD’s Director of Research, Dr Gurleen Popli, gave a seminar presentation to the Industrial Economics and Finance group at the Nottingham University Business School on 15th March 2017. Gurleen presented the paper ‘A dynamic analysis of skill formation and NEET status’, co-authored with Daniel Gladwell and Aki Tsuchiya.
This seminar will consider the determinants of saving on a regular monthly basis and private pension contributions over a period of nearly two decades. Moreover, we explore the relationship between both types of saving and expectations as measured by being pessimistic about future finances. We also focus on the influence of the prevailing macroeconomic environment and household which are in low pay. We exploit UK panel data covering 1996 to 2014 drawn from the British Household Panel Survey and Understanding Society. Hence, importantly our period of analysis covers the recent financial crisis. We then explore the effects of saving on a regular basis for future financial hardship in order to shed light on whether regular savings act as safety net for future financial difficulties. The results suggest that being pessimistic about future finances is positively associated with saving on a regular basis, which accords with precautionary saving motives. Our findings also indicate that saving on a regular basis is inversely associated with future financial hardship.
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