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Top Incomes and the Glass Ceiling

14 Jul 2014

Prof. Sir Tony Atkinson and colleagues present new research on the representation of women at top levels of income.   In the debate about top incomes, one aspect has been strikingly missing: gender. When we talk about the top 1%, how many of it are women? Is there a glass ceiling that prevents women from reaching the very top of the income distribution? These are important questions. Whatever one thinks about the share of income accruing to the top 1%, if women are seriously under-represented, then this raises questions ...

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Thumbnail for Debating climate and capitalism at the Aspen Ideas Festival

Debating climate and capitalism at the Aspen Ideas Festival

14 Jul 2014

Eric Beinhocker brings INET Oxford thinking to Aspen's annual high-powered gathering.   Each summer for the past 9 years the Aspen Institute  in partnership with the Atlantic magazine, has gathered leading figures from politics, business, technology, academia, and the arts in the beautiful mountain town of Aspen, Colorado for its annual Ideas Festival.   This year 350 presenters and over 3,000 attendees engaged in 200 sessions on topics ranging from the future of the Middle East, to deve...

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Thumbnail for Mathematical model illustrates our online 'copycat' behaviour

Mathematical model illustrates our online 'copycat' behaviour

09 Jul 2014

Researchers have developed a model to examine our behaviour on online social networks, particularly the balance between copying friends and relying on provided 'best-seller' information. The researchers, including Associate Professor Felix Reed-Tsochas, Director of Complexity Economics at the Institute for New Economic Thinking at the University of Oxford, examined how users are influenced in the choice of apps that they install on their Facebook pages by creating a mathematic...

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Thumbnail for Globalisation and risk addressed in 'The Butterfly Defect'

Globalisation and risk addressed in 'The Butterfly Defect'

23 Jun 2014

The systemic risks brought about by globalisation are tackled by the Oxford Martin School's Director, Professor Ian Goldin, in his new book, 'The Butterfly Defect: How Globalisation Creates Systemic Risks, and What to Do about It', co-authored with Mike Mariathasan. Global hyperconnectivity and increased system integration have led to vast benefits, including worldwide growth in incomes, education, innovation, and technology. But rapid globalisation has also created concerns because the repercussions of local ev...

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Thumbnail for Why Standard Macro Models Fail During Crises

Why Standard Macro Models Fail During Crises

18 Jun 2014

David Hendry and Grayham Mizon show why the models used by many policymakers perform so poorly in the face of uncertainty   The standard macroeconomic model used by most central banks and other policymakers are "dynamic stochastic general equilibrium models" or "DSGE" as they are known (economists have a knack for catchy branding).  There has been much discussion and debate about why these models performed so poorly during the 2008 financial crisis.  Not only did these models fail to anticip...

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The Nature of Invention

18 Jun 2014

INET Oxford researchers and collaborators data mine 200 years of US Patent Office records to uncover the true nature of innovation.   Hyejin Youn, a senior research fellow at INET Oxford, and her collaborators Luis Bettencourt of the Santa Fe Institute, Deborah Strumsky of the University of North Carolina, and Jose Lobo of Arizona State University have been analysing 220 years of US patent data to better understand how the process of technological innovation works.  As they describe it, this data is like a "fos...

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Cameron Hepburn at Oxford Energy Event

13 Jun 2014

Economics of Sustainability director, Prof Cameron Hepburn, has recently spoken at an Oxford Energy event held under Chatham House rule at the House of Lords with senior people from government and business. He has also joined a panel discussing the role of the state in the energy markets. The Conference brought together high profile alumni from the energy sector, invited friends of Oxford Energy and senior researchers from the University. It addressed transformative technology, market, and policy changes to the global ...

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Thumbnail for Rt. Hon. Liam Byrne Speaks on Inclusive Growth

Rt. Hon. Liam Byrne Speaks on Inclusive Growth

09 Jun 2014

The Rt. Hon. Liam Byrne, MP spoke on June 5th at an Oxford Martin School/INET Oxford lecture.  Mr. Byrne is the MP for Birmingham Hodge Hill and is the Shadow Minister for Universities, Science and Skills.  Byrne has a background in business prior to entering politics and served in the Home Office and HM Treasury in the previous Labour Government. In his speech, Mr. Byrne noted on the hundredth anniversary of the Great War that it is important to recall the alliance between business and government that helped win t...

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Thumbnail for Lifetime Achievement Award for Prof. Sir David Hendry

Lifetime Achievement Award for Prof. Sir David Hendry

09 Jun 2014

One of the world's leading economists, INET Oxford's Prof. Sir David Hendry received a unique award from the Economic and Social Research Council (ESRC) At a ceremony June 6th he was given the Celebrating Impact Lifetime Achievement Award. Sir David is Professor of Economics at the University of Oxford and Director of the Programme in Economic Modelling in the Institute for New Economic Thinking at the Oxford Martin School (INET Oxford). Professor Paul Boyle, Chief Executive of the ESRC, said: 'This is o...

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OECD Discusses "Capitalism Re-Defined"

20 May 2014

The Organisation for Economic Cooperation and Development (OECD) has been a leader in developing new ways to measure the economy that go beyond GDP and other traditional metrics.  In particular they have been integrating ideas from research on inequality, green growth, and their Better Life Index to develop new ways of thinking about inclusive growth   In that context they invited INET Executive Director Eric Beinhocker to give a talk to OECD staff on his recent article with Nick Hanauer in Democr...

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Thumbnail for Financial Times: We Need a New Economics Curriculum

Financial Times: We Need a New Economics Curriculum

19 May 2014

INET Oxford Executive Director Eric Beinhocker and Prof. Wendy Carlin, head of the INET CORE curriculum effort are both mentioned in a Financial Times piece on the need for change in the teaching of economics.   Link to the story:  http://www.ft.com/cms/s/0/dfd84240-dcd5-11e3-ba13-00144feabdc0.html?siteedition=uk#axzz3268gVrly

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Thumbnail for Tony Atkinson letter to Guardian re Piketty

Tony Atkinson letter to Guardian re Piketty

09 May 2014

Prof. Sir Tony Atkinson of INET Oxford's Economic Modelling (EMoD) group and Nuffield College published a letter in the Guardian today noting the important role that INET and EMoD played in supporting the development of the datasets that were used in Thomas Piketty's bestselling book Capital in the 21st Century.  He notes "Without their support over the years for what was then an unfashionable area of economic research, and the encouragement it gave promising young scholars, the current debate would...

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