Beyond Intermediates: The Role of Consumption and Commuting in the Construction of Local Input–Output Tables

Estimating intermediate trade using conventional non-survey methods produces biased results. This problem has led to a methodological recommendation that emphasises the accurate estimation of intermediate trade flows. This paper argues for a qualification of the consensus view: when simulating input-output (IO) tables, analysts need also to consider spill-over effects driven by wage and consumption flows. In particular, for metropolitan economies, capturing wage and consumption flows is essential to obtain accurate Type II multipliers. This is demonstrated by constructing an interregional IO table, which captures the interdependence between a city and its commuter belt, nested within the wider regional economy

Social origin and the financial feasibility of going to university: the role of wage penalties and availability of funding

The evidence on why students from lower social origin are persistently underrepresented in higher education (HE) suggests social, educational and economic factors all play a role. We concentrate on the influence of monetary costs/benefits and how these are influenced by social origin. In particular, we consider the effect of a class-based wage penalty in the labour market and, using evidence from a large-scale survey of Scottish students, we show how the greater financial constraints facing working-class students affects the incentive to participate in HE. Using a simple model of human capital investment, the low rate of working-class participation in HE is shown to be consistent with rational behaviour, i.e. weighing the monetary costs and benefits, participating in HE is a less attractive investment proposition for some students. We conduct simulations which suggest this could be mitigated by generous income-contingent support

A critique of neo-mercantilist analyses of Icelandic political economy and crisis

Iceland’s journey from rags to riches in the 20th century is related, in the dominant discourse, to its gaining independence in 1944. This discourse played a significant role in both the legitimation of the finance-dominated growth model in the 1990s and 2000s and in the latter’s defence as it came under scrutiny before its collapse in October 2008. It is therefore ironic – or perhaps, in some sense, logical – to find dominant analyses of the crisis arising from the neo-mercantilist tradition. Drawing on Marxist critiques of neo-mercantilism, we challenge these interventions and thus seek to redress the neglect of social struggle in the dominant discourse

The expenditure impacts of London's higher education institutions : the role of diverse income sources

This paper analyses the impact of London-based higher education institutions (HEIs) on the English economy. When we treat each of the HEIs as separate sectors in conventional input-output analysis, their expenditure impacts appear rather homogenous, with the apparent heterogeneity of their overall impacts being primarily driven by scale. However, a disaggregation of income by source reveals considerable variation in their dependence upon public funding and ability to draw in income/funding from external sources. Acknowledging the possible alternative uses of the public funding and deriving balanced expenditure multipliers reveals large differences in the net-expenditure impact with the source of variation being the origin of income. The institutional multiplier is driven by the ability to attract external funding, which would typically favour research-intensive institutions. However, the impacts of students’ consumption expenditures are also significant. In terms of ranking of multipliers the overall results are mixed

The impact of polytechnic institutes on the local economy

Higher education institutions and, particularly, polytechnic institutes in Portugal are, generally speaking, recognized as the key stakeholders in regional development. However, due to the economic recession of recent years and the consequent budget constraints, higher education institutions more than ever need to demonstrate the social and cultural impact of their activities within their communities and their contribution to its economic development. The aim of this paper is to estimate the economic impact of a group of polytechnic institutes located in regions with diverse socio-economic characteristics using a common methodology. This common framework enables a comparative study and a better identification of the variables that differentiate the different regions, the respective polytechnics and their impacts.The authors of this work would like to thank the support provided by the Portuguese Polytechnics Coordinating Council (CCISP) and by the representatives of all polytechnic institutes involved in the study.info:eu-repo/semantics/publishedVersio