Showing papers by "London School of Economics and Political Science published in 2013"
TL;DR: The authors used latent class analysis on these variables to derive seven classes of social class in the UK, and demonstrate the existence of an elite class whose wealth separates them from an established middle class, as well as a class of technical experts.
Abstract: The social scientific analysis of social class is attracting renewed interest given the accentuation of economic and social inequalities throughout the world. The most widely validated measure of social class, the Nuffield class schema, developed in the 1970s, was codified in the UK’s National Statistics Socio-Economic Classification (NS-SEC) and places people in one of seven main classes according to their occupation and employment status. This principally distinguishes between people working in routine or semi-routine occupations employed on a ‘labour contract’ on the one hand, and those working in professional or managerial occupations employed on a ‘service contract’ on the other. However, this occupationally based class schema does not effectively capture the role of social and cultural processes in generating class divisions. We analyse the largest survey of social class ever conducted in the UK, the BBC’s 2011 Great British Class Survey, with 161,400 web respondents, as well as a nationally representative sample survey, which includes unusually detailed questions asked on social, cultural and economic capital. Using latent class analysis on these variables, we derive seven classes. We demonstrate the existence of an ‘elite’, whose wealth separates them from an established middle class, as well as a class of technical experts and a class of ‘new affluent’ workers. We also show that at the lower levels of the class structure, alongside an ageing traditional working class, there is a ‘precariat’ characterised by very low levels of capital, and a group of emergent service workers. We think that this new seven class model recognises both social polarisation in British society and class fragmentation in its middle layers, and will attract enormous interest from a wide social scientific community in offering an up-to-date multi-dimensional model of social class.
877 citations
TL;DR: In this article, the authors show that corporate social responsibility and firm value are positively related for firms with high customer awareness, as proxied by advertising expenditures, and that the effect of awareness on the CSR-value relation is reversed for companies with a poor prior reputation as corporate citizens.
Abstract: This paper shows that corporate social responsibility (CSR) and firm value are positively related for firms with high customer awareness, as proxied by advertising expenditures. For firms with low customer awareness, the relation is either negative or insignificant. In addition, we find that the effect of awareness on the CSR–value relation is reversed for firms with a poor prior reputation as corporate citizens. This evidence is consistent with the view that CSR activities can add value to the firm but only under certain conditions. This paper was accepted by Bruno Cassiman, business strategy.
868 citations
TL;DR: Rodriguez-Pose et al. as discussed by the authors discussed whether institutions matter for regional development and how to integrate them in regional development strategies, and found that while institutions are crucial for economic development, generating an institution-based regional development strategy is likely to be undermined by the lack of definition of what are efficient institutions.
Abstract: Rodriguez-Pose A. Do institutions matter for regional development?, Regional Studies. This paper discusses whether institutions matter for regional development and how to integrate them in regional development strategies. It is found that while institutions are crucial for economic development, generating an institution-based regional development strategy is likely to be undermined by the lack of definition of what are efficient institutions. Problems related to the measurement of institutions, to their space and time variability, to the difficulties in establishing the right mix of formal and informal institutions, and to the endogeneity between institutions and economic development make one-size-fits-all approaches to operationalizing institutions difficult. The paper posits that, in order to overcome these problems, it is crucial to distinguish between the ‘institutional environment’ and ‘institutional arrangements’, that is, to target not the institutions which shape the unique character of any territ...
792 citations
TL;DR: In this article, a genome-wide association study of educational attainment was conducted in a discovery sample of 101,069 individuals and a replication sample of 25,490 individuals, and three independent SNPs are genome wide significant (rs9320913, rs11584700, rs4851266).
Abstract: A genome-wide association study of educational attainment was conducted in a discovery sample of 101,069 individuals and a replication sample of 25,490. Three independent SNPs are genome-wide significant (rs9320913, rs11584700, rs4851266), and all three replicate. Estimated effects sizes are small (R2 ≈ 0.02%), approximately 1 month of schooling per allele. A linear polygenic score from all measured SNPs accounts for ≈ 2% of the variance in both educational attainment and cognitive function. Genes in the region of the loci have previously been associated with health, cognitive, and central nervous system phenotypes, and bioinformatics analyses suggest the involvement of the anterior caudate nucleus. These findings provide promising candidate SNPs for follow-up work, and our effect size estimates can anchor power analyses in social-science genetics.
791 citations
Abstract: World Top Incomes Database at http://topincomes.parisschoolofeconomics.eu/) and has represented a challenge to the economics profession. Stories based on the and has represented a challenge to the economics profession. Stories based on the supply and demand for skills are not enough to explain the extreme top tail of supply and demand for skills are not enough to explain the extreme top tail of the earnings distribution; nor is it enough to look only at earned incomes. Different the earnings distribution; nor is it enough to look only at earned incomes. Different approaches are necessary to explain what has happened in the United States over approaches are necessary to explain what has happened in the United States over the past century and also to explain the differing experience in other high-income the past century and also to explain the differing experience in other high-income countries over recent decades. We begin with the international comparison in the countries over recent decades. We begin with the international comparison in the fi rst section and then turn to the causes and implications of the evolution of top fi rst section and then turn to the causes and implications of the evolution of top income shares. income shares.
698 citations
TL;DR: In this paper, the relationship between momentary subjective wellbeing (SWB) and individuals' immediate environment within the UK was explored, finding that on average, participants are significantly happier outdoors in all green or natural habitat types than they are in urban environments.
Abstract: Links between wellbeing and environmental factors are of growing interest in psychology, health, conservation, economics, and more widely. There is limited evidence that green or natural environments are positive for physical and mental health and wellbeing. We present a new and unique primary research study exploring the relationship between momentary subjective wellbeing (SWB) and individuals’ immediate environment within the UK. We developed and applied an innovative data collection tool: a smartphone app that signals participants at random moments, presenting a brief questionnaire while using satellite positioning (GPS) to determine geographical coordinates. We used this to collect over one million responses from more than 20,000 participants. Associating GPS response locations with objective spatial data, we estimate a model relating land cover to SWB using only the within-individual variation, while controlling for weather, daylight, activity, companionship, location type, time, day, and any response trend. On average, study participants are significantly and substantially happier outdoors in all green or natural habitat types than they are in urban environments. These findings are robust to a number of alternative models and model specifications. This study provides a new line of evidence on links between nature and wellbeing, strengthening existing evidence of a positive relationship between SWB and exposure to green or natural environments in daily life. Our results have informed the UK National Ecosystem Assessment (NEA), and the novel geo-located experience sampling methodology we describe has great potential to provide new insights in a range of areas of interest to policymakers.
629 citations
TL;DR: The authors showed that the impact of government expenditure shocks depends crucially on key country characteristics, such as the level of development, exchange rate regime, openness to trade, and public indebtedness.
600 citations
TL;DR: In this article, the authors develop entrepreneurship and institutional theory to explain entrepreneurial growth aspirations across individuals and institutional contexts, and find that the relationship between growth aspiring entrepreneurs and institutions is complex; they benefit simultaneously from strong government (in the sense of property rights enforcement), and smaller government, but are constrained by corruption.
560 citations
TL;DR: In this paper, the authors developed and tested a moderated mediation model linking perceived human resource management practices to organisational citizenship behaviour and turnover intentions, and found that the effect of perceived HRM practices on both outcome variables is mediated by levels of employee engagement, while the relationship between employee engagement and both outcomes is moderated by perceived organisational support and leader-member exchange.
Abstract: This study contributes to our understanding of the mediating and moderating processes through which human resource management (HRM) practices are linked with behavioural outcomes. We developed and tested a moderated mediation model linking perceived HRM practices to organisational citizenship behaviour and turnover intentions. Drawing on social exchange theory, our model posits that the effect of perceived HRM practices on both outcome variables is mediated by levels of employee engagement, while the relationship between employee engagement and both outcome variables is moderated by perceived organisational support and leader–member exchange. Overall, data from 297 employees in a service sector organisation in the UK support this model. This suggests that the enactment of positive behavioural outcomes, as a consequence of engagement, largely depends on the wider organisational climate and employees' relationship with their line manager. Implications for practice and directions for future research are discussed.
555 citations
TL;DR: Existing randomised trial evidence on exercise interventions suggests that exercise and many drug interventions are often potentially similar in terms of their mortality benefits in the secondary prevention of coronary heart disease, rehabilitation after stroke, treatment of heart failure, and prevention of diabetes.
Abstract: Objective To determine the comparative effectiveness of exercise versus drug interventions on mortality outcomes. Design Metaepidemiological study. Eligibility criteria Meta-analyses of randomised controlled trials with mortality outcomes comparing the effectiveness of exercise and drug interventions with each other or with control (placebo or usual care). Data sources Medline and Cochrane Database of Systematic Reviews, May 2013. Main outcome measure Mortality. Data synthesis We combined study level death outcomes from exercise and drug trials using random effects network meta-analysis. Results We included 16 (four exercise and 12 drug) meta-analyses. Incorporating an additional three recent exercise trials, our review collectively included 305 randomised controlled trials with 339 274 participants. Across all four conditions with evidence on the effectiveness of exercise on mortality outcomes (secondary prevention of coronary heart disease, rehabilitation of stroke, treatment of heart failure, prevention of diabetes), 14 716 participants were randomised to physical activity interventions in 57 trials. No statistically detectable differences were evident between exercise and drug interventions in the secondary prevention of coronary heart disease and prediabetes. Physical activity interventions were more effective than drug treatment among patients with stroke (odds ratios, exercise v anticoagulants 0.09, 95% credible intervals 0.01 to 0.70 and exercise v antiplatelets 0.10, 0.01 to 0.62). Diuretics were more effective than exercise in heart failure (exercise v diuretics 4.11, 1.17 to 24.76). Inconsistency between direct and indirect comparisons was not significant. Conclusions Although limited in quantity, existing randomised trial evidence on exercise interventions suggests that exercise and many drug interventions are often potentially similar in terms of their mortality benefits in the secondary prevention of coronary heart disease, rehabilitation after stroke, treatment of heart failure, and prevention of diabetes.
553 citations
TL;DR: It is concluded that the steady change and transfiguration of digital artifacts signal a shift of epochal dimensions that calls for rethinking some of the inherited wisdom in IS research and practice.
Abstract: Digital artifacts are embedded in wider and constantly shifting ecosystems such that they become increasingly editable, interactive, reprogrammable, and distributable. This state of flux and constant transfiguration renders the value and utility of these artifacts contingent on shifting webs of functional relations with other artifacts across specific contexts and organizations. By the same token, it apportions control over the development and use of these artifacts over a range of dispersed stakeholders and makes their management a complex technical and social undertaking. These ideas are illustrated with reference to (1) provenance and authenticity of digital documents within the overall context of archiving and social memory and (2) the content dynamics occasioned by the findability of content mediated by Internet search engines. We conclude that the steady change and transfiguration of digital artifacts signal a shift of epochal dimensions that calls for rethinking some of the inherited wisdom in IS research and practice.
TL;DR: In this article, the authors use variation in oil output among Brazilian municipalities to investigate the effects of resource windfalls on government behavior, finding that social transfers, public good provision, infrastructures, and household income increase less than one might expect given the higher reported spending.
Abstract: We use variation in oil output among Brazilian municipalities to investigate the effects of resource windfalls on government behavior. Oil-rich municipalities experience increases in revenues and report corresponding increases in spending on public goods and services. However, survey data and administrative records indicate that social transfers, public good provision,infrastructure, and household income increase less (if at all) than one might expect given the higher reported spending.
TL;DR: The authors developed a general framework showing that technology and product market spillovers have testable implications for a range of performance indicators, and exploited these using distinct measures of a firm's position in the technology space and the product market space.
Abstract: Government policies to support R&D are predicated on empirical evidence of R&D "spillovers" between firms. But there are two countervailing R&D spillovers: positive effects from technology spillovers and negative effects from business stealing by product market rivals. We develop a general framework showing that technology and product market spillovers have testable implications for a range of performance indicators, and exploit these using distinct measures of a firm’s position in technology space and product market space. We show using panel data on U.S. firms between 1981 and 2001 that both technology and product market spillovers operate, but that net social returns are several times larger than private returns. The spillover effects are also revealed when we analyze three high-tech sectors in detail - pharmaceuticals, computer hardware and telecommunication equipment. Using the model we evaluate three R&D subsidy policies and show that the typical focus of support for small and medium firms may be misplaced.
TL;DR: In this article, the authors provide some context for the emergence of "mediatization" as a key theoretical concept for contemporary media and communications research, and offer some reasons why it now deserves the full attention of scholars of communication theory.
Abstract: Why ‘mediatization’ as a topic for communication theory now? This rather ungainly word has been rising in prominence for the past decade, but many readers of this journal may still want to ask: What does it mean? What does it add to communications theory? And is it necessary at all? The purpose of this introduction to the special issue – apart from introducing and summarizing the articles that follow – is to provide some context for the emergence of ‘mediatization’ as a key theoretical concept for contemporary media and communications research, and to offer some reasons why it now deserves the full attention of scholars of communication theory.
TL;DR: This paper explored gender inequities and sexual double standards in teens' digital image exchange, drawing on a UK qualitative research project on youth "sexting" and developed a critique of post-feminist media cultures.
Abstract: This article explores gender inequities and sexual double standards in teens’ digital image exchange, drawing on a UK qualitative research project on youth ‘sexting’ We develop a critique of ‘postfeminist’ media cultures, suggesting teen ‘sexting’ presents specific age and gender related contradictions: teen girls are called upon to produce particular forms of ‘sexy’ self display, yet face legal repercussions, moral condemnation and ‘slut shaming’ when they do so We examine the production/circulation of gendered value and sexual morality via teens’ discussions of activities on Facebook and Blackberry For instance, some boys accumulated ‘ratings’ by possessing and exchanging images of girls’ breasts, which operated as a form of currency and value Girls, in contrast, largely discussed the taking, sharing or posting of such images as risky, potentially inciting blame and shame around sexual reputation (eg being called ‘slut’, ‘slag’ or ‘sket’) The daily negotiations of these new digitally mediated, heterosexualised, classed and raced norms of performing teen feminine and masculine desirability are considered
TL;DR: In this article, the authors develop a framework for nonparametrically identifying optimization frictions and structural elasticities using notches, and apply their framework to tax notches in Pakistan using rich administrative data.
Abstract: We develop a framework for nonparametrically identifying optimization frictions and structural elasticities using notches?discontinuities in the choice sets of agents?introduced by tax and transfer policies Notches create excess bunching on the low-tax side and missing mass on the high-tax side of a cutoff, and they are often associated with a region of strictly dominated choice that would have zero mass in a frictionless world By combining excess bunching (observed response attenuated by frictions) with missing mass in the dominated region (frictions), it is possible to uncover the structural elasticity that would govern behavior in the absence of frictions and arguably capture long-run behavior We apply our framework to tax notches in Pakistan using rich administrative data While observed bunching is large and sharp, optimization frictions are also very large as the majority of taxpayers in dominated ranges are unresponsive to tax incentives The combination of large observed bunching and large frictions implies that the frictionless behavioral response to notches is extremely large, but the underlying structural elasticity driving this response is nevertheless modest This highlights the inefficiency of notches: by creating extremely strong price distortions, they induce large behavioral responses even when structural elasticities are small
TL;DR: A new generation of models is needed in all three of climate science, impact and economics with a still stronger focus on lives and livelihoods, including the risks of large-scale migration and conflicts as mentioned in this paper.
Abstract: Scientists describe the scale of the risks from unmanaged climate change as potentially immense. However, the scientific models, because they omit key factors that are hard to capture precisely, appear to substantially underestimate these risks. Many economic models add further gross underassessment of risk because the assumptions built into the economic modeling on growth, damages and risks, come close to assuming directly that the impacts and costs will be modest and close to excluding the possibility of catastrophic outcomes. A new generation of models is needed in all three of climate science, impact and economics with a still stronger focus on lives and livelihoods, including the risks of large-scale migration and conflicts.
TL;DR: In this paper, the authors model and test the relationship between social and commercial entrepreneurship drawing on social capital theory, and propose that the country prevalence rate of social entrepreneurship is an indicator of constructible nation-level social capital and enhances the likelihood of individual commercial entry.
Abstract: We model and test the relationship between social and commercial entrepreneurship drawing on social capital theory. We propose that the country prevalence rate of social entrepreneurship is an indicator of constructible nation-level social capital and enhances the likelihood of individual commercial entry. We further posit that both social and commercial entrepreneurial entry is facilitated by certain formal institutions, namely strong property rights and (low) government activism, albeit the latter impacts each of these types of entrepreneurship differently. We apply bivariate discrete choice multilevel modeling to population-representative samples in 47 countries and find support for these hypotheses.
TL;DR: This paper found evidence that a significant part of the surge in the spreads of the peripheral Eurozone countries during 2010-11 was disconnected from underlying increases in the debt to GDP ratios and fiscal space variables and was associated with negative self-fulfilling market sentiments that became very strong since the end of 2010.
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TL;DR: In this article, the authors argue that three key institutional factors are female labor market and gendered welfare state provisions, left-leaning political government coalitions, and path dependent policy initiatives for gender equality, both in the public realm as well as in the corporate domain.
Abstract: Ten countries have established quotas for female representation on publicly traded corporate and/or state-owned enterprise boards of directors, ranging from 33-50%, with various sanctions. Fifteen other countries have introduced non-binding gender quotas in their corporate governance codes enforcing a "comply or explain" principle. Countless other countries’ leaders and policy groups are in the process of debating, developing, and approving legislation around gender quotas in boards. Taken together, gender quota legislation significantly impacts the composition of boards of directors and thus the strategic direction of these publicly traded and state-owned enterprises. This article outlines an integrated model of three institutional factors that explain the establishment of board of directors gender quota legislation based on the premise that the country’s institutional environment co-evolves with gender corporate policies. We argue that these three key institutional factors are female labor market and gendered welfare state provisions, left-leaning political government coalitions, and path dependent policy initiatives for gender equality, both in the public realm as well as in the corporate domain. We discuss implications of our conceptual model and empirical findings for theory, practice, policy, and future research. These include the adoption and penalty design of board diversity practices into corporate practices, bottom-up approaches from firm to country-level gender board initiatives, hard versus soft regulation, the leading role of Norway and its isomorphic effects, the likelihood of engaging in decoupling, the role of business leaders, and the transnational and international reaction to board diversity initiatives.
TL;DR: In this paper, the authors focus on the primary role of effect modifiers, which are study and patient characteristics associated with treatment effects, and provide a basic explanation when network meta-analysis is as valid as pairwise meta analysis.
Abstract: In the last decade, network meta-analysis of randomized controlled trials has been introduced as an extension of pairwise meta-analysis. The advantage of network meta-analysis over standard pairwise meta-analysis is that it facilitates indirect comparisons of multiple interventions that have not been studied in a head-to-head fashion. Although assumptions underlying pairwise meta-analyses are well understood, those concerning network meta-analyses are perceived to be more complex and prone to misinterpretation. In this paper, we aim to provide a basic explanation when network meta-analysis is as valid as pairwise meta-analysis. We focus on the primary role of effect modifiers, which are study and patient characteristics associated with treatment effects. Because network meta-analysis includes different trials comparing different interventions, the distribution of effect modifiers cannot only vary across studies for a particular comparison (as with standard pairwise meta-analysis, causing heterogeneity), but also between comparisons (causing inconsistency). If there is an imbalance in the distribution of effect modifiers between different types of direct comparisons, the related indirect comparisons will be biased. If it can be assumed that this is not the case, network meta-analysis is as valid as pairwise meta-analysis. The validity of network meta-analysis is based on the underlying assumption that there is no imbalance in the distribution of effect modifiers across the different types of direct treatment comparisons, regardless of the structure of the evidence network.
Xishuangbanna Tropical Botanical Garden1, Columbia University2, National Institute of Amazonian Research3, Universidade Federal do Acre4, Philadelphia Zoo5, Empresa Brasileira de Pesquisa Agropecuária6, Wageningen University and Research Centre7, Duke University8, Zoological Society of London9, London School of Economics and Political Science10, Université libre de Bruxelles11, Gembloux Agro-Bio Tech12, Museu Paraense Emílio Goeldi13, World Wide Fund for Nature14, University of Amsterdam15, Royal Botanic Garden Edinburgh16, Wildlife Conservation Society17, Center for International Forestry Research18, University of Oxford19, Universiti Sains Malaysia20, Universidad Autónoma Gabriel René Moreno21, Kyoto University22, University of Bangka Belitung23, University of North Sumatra24, University of Zurich25, University of Los Andes26, Indonesian Institute of Sciences27, Southern Cross University28, Naturalis29, Missouri Botanical Garden30, Universidad Nacional de la Amazonía Peruana31, Kagoshima University32, University of Copenhagen33, Smithsonian Tropical Research Institute34, University of Wisconsin–Milwaukee35, Liverpool John Moores University36, Chinese Academy of Sciences37
TL;DR: In this paper, the importance of large trees for tropical forest biomass storage and explore which intrinsic (species trait) and extrinsic (environment) variables are associated with the density of trees and forest biomass at continental and pan-tropical scales.
Abstract: Aim Large trees (d.b.h. 70 cm) store large amounts of biomass. Several studies suggest that large trees may be vulnerable to changing climate, poten- tially leading to declining forest biomass storage. Here we determine the importance of large trees for tropical forest biomass storage and explore which intrinsic (species trait) and extrinsic (environment) variables are associated with the density of large trees and forest biomass at continental and pan-tropical scales. Location Pan-tropical.
TL;DR: It is found that, in general, many different clearing vectors can arise, among which there is a greatest clearing vector, arrived at by letting banks fail in succession until only solvent banks remain, and such a collapse should be prevented if at all possible.
Abstract: This paper is concerned with systemic risk in an interbank market, modelled as a directed graph of interbank obligations. This builds on the modelling paradigm of Eisenberg and Noe [Eisenberg L, Noe TH 2001 Systemic risk in financial systems. Management Sci. 472:236--249] by introducing costs of default if loans have to be called in by a failing bank. This immediately introduces novel and realistic effects. We find that, in general, many different clearing vectors can arise, among which there is a greatest clearing vector, arrived at by letting banks fail in succession until only solvent banks remain. Such a collapse should be prevented if at all possible. We then study situations in which consortia of banks may have the means and incentives to rescue failing banks. This again departs from the conclusions of the earlier work of Eisenberg and Noe, where in the absence of default losses there would be no incentive for solvent banks to rescue failing banks. We conclude with some remarks about how a rescue consortium might be constructed.
This paper was accepted by Wei Xiong, finance.
TL;DR: The mutually constitutive nature of accounting, organizing, and economizing has been emphasized by as discussed by the authors, who encourage scholars of management to pay attention to the mutually-constitutional nature of their work.
Abstract: This paper encourages scholars of management to pay attention to the mutually constitutive nature of accounting, organizing, and economizing. This means viewing accounting as much more than an inst...
TL;DR: The core ontological assumptions of CR are examined in order to gain some perspective on key epistemological issues such as causation and validity, and how these shape the logic of inference in the research process through what is known as retroduction are illustrated.
Abstract: Building on recent developments in mixed methods, we discuss the methodological implications of critical realism and explore how these can guide dynamic mixed-methods research design in information systems. Specifically, we examine the core ontological assumptions of CR in order to gain some perspective on key epistemological issues such as causation and validity, and illustrate how these shape our logic of inference in the research process through what is known as retroduction. We demonstrate the value of a CR-led mixed-methods research approach by drawing on a study that examines the impact of ICT adoption in the financial services sector. In doing so, we provide insight into the interplay between qualitative and quantitative methods and the particular value of applying mixed methods guided by CR methodological principles. Our positioning of demi-regularities within the process of retroduction contributes a distinctive development in this regard. We argue that such a research design enables us to better address issues of validity and the development of more robust meta-inferences.
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TL;DR: The validity of network meta-analysis is based on the underlying assumption that there is no imbalance in the distribution of effect modifiers across the different types of direct treatment comparisons, regardless of the structure of the evidence network.
Abstract: Background In the last decade, network meta-analysis of randomized controlled trials has been introduced as an extension of pairwise meta-analysis. The advantage of network meta-analysis over standard pairwise meta-analysis is that it facilitates indirect comparisons of multiple interventions that have not been studied in a head-to-head fashion. Although assumptions underlying pairwise meta-analyses are well understood, those concerning network meta-analyses are perceived to be more complex and prone to misinterpretation. Discussion In this paper, we aim to provide a basic explanation when network meta-analysis is as valid as pairwise meta-analysis. We focus on the primary role of effect modifiers, which are study and patient characteristics associated with treatment effects. Because network meta-analysis includes different trials comparing different interventions, the distribution of effect modifiers cannot only vary across studies for a particular comparison (as with standard pairwise meta-analysis, causing heterogeneity), but also between comparisons (causing inconsistency). If there is an imbalance in the distribution of effect modifiers between different types of direct comparisons, the related indirect comparisons will be biased. If it can be assumed that this is not the case, network meta-analysis is as valid as pairwise meta-analysis. Summary The validity of network meta-analysis is based on the underlying assumption that there is no imbalance in the distribution of effect modifiers across the different types of direct treatment comparisons, regardless of the structure of the evidence network.
TL;DR: In this article, the relative level of intergenerational mobility, whether classified by income, education, or social class, is summarized and explanations for the differences in earnings and education persistence are presented.
Abstract: This paper summarizes research on the relative level of intergenerational mobility - whether classified by income, education or social class. The literatures on education and income mobility reveal a similar ranking with South America, other developing nations, southern European countries and France tending to have rather limited mobility although the Nordic countries exhibit strong mobility. Estimates of mobility based on social class point to rather different patterns, and we demonstrate that these differences are most likely generated by intergenerational earnings persistence within social classes. The second part of the paper looks for explanations for the differences in earnings and education persistence and finds that mobility is negatively correlated with inequality and the return to education but positively correlated with a nation's education spending.
TL;DR: In this paper, the authors disentangle some of the conditions under which different kinds of proximity contribute to the formation of U-I research collaborations, focussing in particular on clustering and technological complementarity among the firms participating in such partnerships.
Abstract: Research collaborations between universities and industry (U-I) are considered to be one important channel of potential localized knowledge spillovers (LKS). These collaborations favour both intended and unintended flows of knowledge and facilitate learning processes between partners from different organizations. Despite the copious literature on LKS, still little is known about the factors driving the formation of U-I research collaborations and, in particular, about the role that geographical proximity plays in the establishment of such relationships. Using collaborative research grants between universities and business firms awarded by the UK Engineering and Physical Sciences Research Council (EPSRC), in this article we disentangle some of the conditions under which different kinds of proximity contribute to the formation of U-I research collaborations, focussing in particular on clustering and technological complementarity among the firms participating in such partnerships.
Stanford University1, University of Maryland, College Park2, University of Toulouse3, London School of Economics and Political Science4, Columbia University5, National Bureau of Economic Research6, Duke University7, Cowles Foundation8, Massachusetts Institute of Technology9, University of Arizona10, University of Gothenburg11, VU University Amsterdam12, Harvard University13
TL;DR: The United States and others should consider adopting a different approach to estimating costs and benefits in light of uncertainty, especially for projects with long time horizons, such as those to reduce greenhouse gas emissions.
Abstract: In economic project analysis, the rate at which future benefits and costs are discounted relative to current values often determines whether a project passes the benefit-cost test. This is especially true of projects with long time horizons, such as those to reduce greenhouse gas (GHG) emissions. Whether the benefits of climate policies, which can last for centuries, outweigh the costs, many of which are borne today, is especially sensitive to the rate at which future benefits are discounted. This is also true of other policies, e.g., affecting nuclear waste disposal or the construction of long-lived infrastructure.
TL;DR: This paper found that the urban-rural gap accounts for 40% of mean country inequality and much of its cross-country variation, and that one out of every four or five individuals raised in rural areas moves to urban areas as a young adult, where they earn much higher incomes than nonmigrant rural permanent residents.
Abstract: Using population and product consumption data from the Demographic and Health Surveys, I construct comparable measures of inequality and migration for 65 countries, including some of the poorest countries in the world. I find that the urban-rural gap accounts for 40% of mean country inequality and much of its cross-country variation. One out of every four or five individuals raised in rural areas moves to urban areas as a young adult, where they earn much higher incomes than nonmigrant rural permanent residents. Equally, one out of every four or five individuals raised in urban areas moves to rural areas as a young adult, where they earn much lower incomes than their nonmigrant urban cousins. These flows and relative incomes are suggestive of a world where the population sorts itself geographically on the basis of its human capital and skill. I show that a simple model of this sort explains the urban-rural gap in living standards.