Heavy drinkers have a higher social cost than other drinkers and are more responsive to changes in alcohol prices, say the Institute for Fiscal Studies. So why not raise taxes on the high-strength drinks they most often consume?
This paper examine the link between wage and consumption inequality using a life-cycle model incorporating consumption and family labor supply decisions.
‘Retirement Incentives and Labor Supply’ in A. Woodland and J. Piggott (eds) Handbook of the Economics of Population Aging, Chapter 1, Vol 1B, Elsevier.
We derive conditions under which a demand function with nonseparable unobserved heterogeneity in tastes can be estimated consistently by nonparametric quantile regression subject to the shape restriction from the Slutsky inequality.
Economics was front and centre during the run-up to the June 2016 referendum on the UK’s membership of the EU. Paul Johnson and Ian Mitchell discuss the economics of Brexit and lessons for the economics profession.
Public sector pay has been squeezed since public spending cuts began to take effect from 2011, and it looks set to be squeezed even further up to 2020. However, this comes on the back of an increase in public sector wages relative to those in the private sector during the Great Recession. There is currently significant policy interest in the extent to which continued stagnation in public sector wages will affect the ability of the public sector to recruit and retain high-quality workers, although to date little is known about the potential effects.
