196 research outputs found

    The evolution of inequality in productivity and wages: panel data evidence

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    There has been a remarkable increase in wage inequality in the US, UK and many other countries over the past three decades. A significant part of this appears to be within observable groups (such as age-gender-skill cells). A generally untested implication of many theories rationalizing the growth of within-group inequality is that firm-level productivity dispersion should also have increased. Since the relevant data do not exist in the US we utilize a UK longitudinal panel dataset covering the manufacturing and non-manufacturing sectors since the early 1980s. We find evidence that productivity inequality has increased. Existing studies have underestimated this increased dispersion because they use data from the manufacturing sector which has been in rapid decline. Most of the increase in individual wage inequality has occurred because of an increase in inequality between firms (and within industries). Increased productivity dispersion appears to be linked with new technologies as suggested by models such as Caselli (1999) and is not primarily due to an increase in transitory shocks, greater sorting or entry/exit dynamics

    Estimating the Value of Discounted Rental Accommodation for London’s ‘Squeezed’ Key Workers

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    This new research shows: 1 The economic value of providing discounted rental housing to key workers is, on average, £27,000 per household. From this we have deducted the cost of providing it of c.£14,000. The net benefit to London’s economy per household is at least £12,500 per annum. 2 Although it is marginally cheaper to provide key worker housing in outer boroughs, there are significant costs to be offset – transport, time, etc, and these almost negate the benefits of doing so. And because costs of housing in outer boroughs are rising so quickly, the differential is disappearing. Wherever we look across London there is a problem of ‘affordable’ living. If we wish to avoid the ‘doughnut’ effect – evident in Paris – where the workforce is ‘ghettoised’ in an outer suburban ring, we need to make provision for key workers across London. Failure to do this will have serious implications for the London economy. 3 The approach to fixing rents in S106 agreements typically over-subsidises a percentage of tenants who could afford to pay more. A personalised rent model, which we have applied at the New Era Estate would be more cost effective and allow more key worker housing to be created

    Inequality of individual wages and the dispersion of firm productivity.

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    Many blame globalisation for growing wage inequality in the UK. But according to research by Giulia Faggio, Kjell Salvanes and John Van Reenen, the rise in inequality is better explained by increasing dispersion in the productivity of firms related to their use of new technology. Their study finds that much of the rise in wage inequality is driven by increasing differences in wages among firms in the same industry. A major driver of such differences is firms’ varying ability to make use of new technology. This is particularly felt in the service sector.

    MicroRNA-mediated stress response in bivalve species.

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    Bivalve mollusks are important aquatic organisms, which are used for biological monitoring because of their abundance, ubiquitous nature, and abilities to adapt to different environments. MicroRNAs (miRNAs) are small noncoding RNAs, which typically silence the expression of target genes; however, certain miRNAs directly or indirectly upregulate their target genes. They are rapidly modulated and play an essential role in shaping the response of organisms to stresses. Based on the regulatory function and rapid alteration of miRNAs, they could act as biomarkers for biotic and abiotic stress, including environmental stresses and contaminations. Moreover, mollusk, particularly hemocytes, rapidly respond to environmental changes, such as pollution, salinity changes, and desiccation, which makes them an attractive model for this purpose. Thus, bivalve mollusks could be considered a good animal model to examine a system's response to different environmental conditions and stressors. miRNAs have been reported to adjust the adaptation and physiological functions of bivalves during endogenous and environmental stressors. In this review, we aimed to discuss the potential mechanisms underlying the response of bivalves to stressors and how miRNAs orchestrate this process; however, if necessary, other organisms' response is included to explain specific processes
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