Next Monday, 17th of December, Bernhard Ganglmair, researcher in Economics at the University of Mannheim is presenting a piece of his research on contract theory and industrial organization.
This Wednesday, 21st of November Dr. Caterina Gennaioli (CGR) and Dr. Sebastian Axbard (SEF) are organising a workshop on quantitative analysis of social and economic issues. Dr. Anna Raute (SEF), Dr. Georg von Graevenitz (SBM), Dr. Reinhard Weisser (SEF) and Prof. Pedro Martins (SBM) will be discussing their most recent research on maternal labour supply, R&D and IP strategies after the financial crisis, performance and human disaster, and rent sharing in Chine.
On the 19th of October, we hosted the fifth meeting on the ‘Theory and Empirics of Inequality, Poverty and Mobility’, at the QMUL premises on Charterhouse Square, London. There was a large spread of theoretical and applied issues addressed in the six papers presented. In the morning three papers discussed issues related to the measurement of mobility and poverty, with applications to the EU, Mexico and with global poverty data, while in the afternoon three papers discussed the impact of mining on individual well-being in Sub-Saharan Africa, how social connections and financial incentives affect productivity in tasks that require coordination among workers via an experiment in a garment factory in India, and a final paper evaluating the effect of aid on conflict in Indonesia.
On Friday, 9th of November the Centre for Globalisation Research (CGR) of the School of Business and Management, Queen Mary University of London is hosting the annual Globalisation Seminar and workshop on Political Economy and Economic Development organised by Dr. Caterina Gennaioli (CGR Director).
This Monday 1st of October, Dr. Ugo Troiano will be presenting his research. Dr Troiano works at the University of Michigan as an Assistant Professor of Economics. He is also a Faculty Research Fellow NBER in Political Economy and Public Economics, Research Associate at the Office of Tax Policy Research and Faculty Associate in the Institute for Social Research CPS.
This paper shows that social capital increases economic growth by raising government investment in human capital. We present a model of stochastic endogenous growth with imperfect political agency. Only some people correctly anticipate the future returns to current spending on public education. Greater social discussion of information makes this knowledge more widespread among voters. As a result, we find it alleviates myopic political incentives to underinvest in human capital, and it helps the selection of politicians that ensure high productivity in public education. Through this mechanism, we show that social capital raises the equilibrium growth rate of output and reduces its volatility. We provide evidence consistent with the predictions of our model. Individuals with higher social capital are more informed about their government. Countries with higher social capital spend a higher share of output on public education.
A previous post outlined a number of major inventions (or macro-inventions) of the eighteenth century that were the basis for the inventions of the nineteenth century that propelled productivity growth. These innovations, according to Robert Allen, would not have taken place in Britain in the absence of cheap coal deposits. Another unique factor driving the innovations was Britain’s expensive labour. Labour was expensive in Britain, and economic historians have traced the origins of the high wages back to the Black Death plague (in the 14th century) that reduced the working age population significantly. Moreover, Britain’s commercial success in the international economy played a role in the growth of wages.