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STICERD Research by Xavier Jaravel
Gains to U.S. consumers from Chinese imports could help compensate job losses

According to research by Xavier Jaravel from STICERD and Erick Sager from the Federal Reserve Board, the gains from falling U.S. consumer prices due to increased trade with China could be used to compensate those in the U.S. effected by job losses. Their study finds the price effects of trade with China were substantial and largely beneficial to U.S. consumers, and could help mitigate the effects of the "China shock", where the impact of rising Chinese exports to the U.S. has negative consequences for U.S. employment levels, particularly in manufacturing.

Xavier Jaravel said: "In practice, compensating the exact individuals who lost their jobs because of trade may be challenging as it requires policy makers to find and implement the proper policies to redistribute the gains from the winners to the losers. But our results indicate that there is much room to organise such transfers, because the consumer gains are large."

Find out more about the research on the LSE News website.


News Posted: 08 August 2019      [Back to the Top]

Launch of the Multidimensional Inequality Framework

Today we are delighted to inform you that we have launched the Multidimensional Inequality Framework (MIF). The MIF and dedicated websites are the results of a collaboration between academics in the Centre for Analysis of Social Exclusion (CASE) at the London School of Economics and the School of Oriental and African Studies (SOAS) (Abigail McKnight as the academic lead), and practitioners in Oxfam (led by Alex Prats).
The initial project was funded through grant from the Atlantic Fellows for Social and Economic Equity (AFSEE) programme at the LSE's International Inequalities Institute and further funding for the development of the CASE website was provided by the LSE's Knowledge Exchange and Impact Fund.


For too long inequality has been conceptualised and measured within single dimensions. This has limited our understanding of inequality and restricted our ability to tackle it. The Multidimensional Inequality Framework provides a systematic, theoretically grounded approach to measuring and analysing inequality. Amartya Sen's capability approach, informs the theoretical foundation of the MIF, and leads us to look beyond simple measures of economic outcomes or subjective assessments of well-being to assess the quality of people's lives. Instead, we assess inequalities in the capability of individuals to live a life they have reason to value and one that they would choose for themselves. The MIF is structured around seven key life domains, within which we provide a selection of inequality indicators and inequality measures.

The dedicated website contains a toolkit with advice on how to apply the MIF, lots of resources to help you identify inequality drivers, candidate policies and how to take action.

Visit the LSE MIF website.

News Posted: 15 July 2019      [Back to the Top]

STICERD News
What economists really do? A brief guide to Economics by Oriana Bandiera and Fraser Clark

Professor Oriana Bandiera and Fraser Clark have produced a video on what economists really do. Oriana talks to other economists at LSE: Swati Dhingra (who studies the economic effects of Brexit), Dr Daniel Reck (who studies behaviour economics and policy), Rachael Meager (who studies econometrics) and Ricardo Reis (who studies macroeconomics). Their fields of study relate to the core of economics, which is the study of how people and firms make choices on nearly everything - what to consume, what to buy, what to produce, how much to work, which job to do - to even lifestyle choices such as whom to marry or whether to have children. What brings economists together is the method they use to analyse these choices. The tools of economics help us to understand behaviour in many settings, and understanding behaviour allows us to tell whether policies will have the desired effect.



News Posted: 09 July 2019      [Back to the Top]

STICERD Award
First Atkinson MRes/PhD Scholarship awarded to Agnes Varga

In memory of our much-missed colleague, Tony Atkinson, the School has established a new PhD scholarship, funded jointly by STICERD and the Economics Department.

Agnes Varga is the first recipient of the Atkinson MRes/ PhD Scholarship and she joined LSE in 2018 after completing a BSc in Political Economy at King's College London. Her research is planned to centre around the relationship between inequality and economic efficiency, particularly focusing on the role of redistributive policies, ie, how lower inequality induced by such policies might differ from ex-ante equality in its implications for economic performance.

She intends to explore this through the framework of heterogenous agent models in the presence of incomplete markets. With a particular interest in the inextricable role of social and political elements in economic questions, as both evidenced and fostered by her background in political economy, she wishes to incorporate the crucial aspect of how inequality affects the degree of redistribution pursued politically, and how this alters the overall relationship examined in a political vacuum.

News Posted: 02 July 2019      [Back to the Top]