From The Scotsman:

“Watching Chancellor Rachel Reeves’ maiden Budget and Mansion House speech, one thing was clear – this is a UK government focused on long-term economic growth.

Reeves’ plan to “invest, invest, invest”, and the provision of Scotland’s largest financial settlement since devolution demonstrates a clear government mandate to drive growth and boost investment both into and from Scotland.

This is a vision shared by the investment management industry, which channels some £1.4 trillion into the UK economy on behalf of households across the country. Our industry has a long heritage in Scotland. Edinburgh remains the second largest centre of investment management in the UK, managing £490 billion in assets, and the Scottish investment management industry employs about 13,000 people. Much to be proud of.”

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From a paper by Florian Huber, Massimiliano Marcellino, and Tommaso Tornese:

“We study the distributional implications of uncertainty shocks by developing a model that links macroeconomic aggregates to the US distribution of earnings and consumption. We find that: initially, the fraction of low-earning workers decreases, while the share of households reporting low consumption increases; at longer horizons, the fraction of low-income workers increases, but the consumption distribution reverts to its pre-shock shape. While the first phase reduces income inequality and increases consumption inequality, in the second stage income inequality rises, while the effects on consumption inequality dissipate. Finally, we introduce Functional Local Projections and show that they yield similar results.”

From a post by Matthew E. Kahn:

“I like Peter Coy’s new New York Times column and want to use it to discuss the climate change adaptation challenge.

Here is a direct quote from Coy;

“Knight’s thinking is as relevant now as it was in 1921, when “Risk, Uncertainty and Profit” was published. We still need tools for coping with uncertainty. Knight’s perspective can guide us to a middle course between trying to avoid uncertainty entirely, which is impossible, and plunging headlong into the darkness, which is reckless.

Knight has been forgotten or misconstrued repeatedly over the past century. A new book by the scholar Amar Bhidé brings back his original insights and dares to try to improve upon them — mostly by extending them into realms that Knight didn’t consider, such as the persuasive techniques that entrepreneurs use to overcome the uncertainty felt by investors, customers and partners.”

Peter Coy has not interviewed me about my work on Knightian Uncertainty applied to climate change adaptation. In my academic writing and in my 2021 book Adapting to Climate Change,“

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From a post by Alice Evans:

“Did you know that Indian higher education has now achieved gender parity?

Below, I visualise data from the annual web-based All India Survey on Higher Education (2021-22). This shows the gender ratio enrolled in colleges within that state. Students may have migrated from other states.

Himachal Pradesh’s gender ratio now exceeds the USA, with women in the lead.

Female tertiary enrolment has surged!

Look back at the female-to-male ratio in higher education in 2012. There has been major progress towards gender parity. In Medicine, women have actually taken the lead.”

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From a paper by Hammed Adetola Adefeso:

“The study investigates the role of governance on financial development and inequality nexus in African economies. Based on the system-Generalised Method of Moments (sys-GMM) on 41 African countries from 2001-2020. The empirical findings from the study are: (1) income inequality is highly persistent in the African countries; (2) financial development has insignificant increasing impact on inequality; (3) the interactive terms of financial development with control of corruption and rule of law have increasing impacts on income inequality implying that when there is rule of law and corruption is under controlled, given an increase in financial development will further widen inequality in the region. The study concludes by advocating for the need of good governance before income inequality can be reduced in Africa.”