[...]In this paper, I examine two methods of measuringthe value of better schools. One involves following individualsover time to determine how the quality of theirschooling affects outcomes later in their lives; the otherinvolves calculating parental valuation of better schoolstoday. I review...

[...]In this article, we explore the relationship betweenfranchise value and risk taking over the 1986-94 period.We extend Keeley’s empirical analysis by estimating theeffect of franchise value on a variety of measures of bankrisk. We find an inverse relationship between franchisevalue and an...

[...]The analysis of competitive markets culminated in the fundamental theorems of welfare economics which elucidated the (restrictive) conditions under which resource allocation by markets would achieve Pareto efficiency. The first fundamental theorem says that all perfectly competitive...

It has long been accepted that lack of social participation in wider society is oneaspect or one definition of poverty. Current concerns with the extent anddistribution of social capital as both a measure of a good society and as meansto upward mobility also emphasise the importance of social...

We exploit a universe dataset of state school students in England with linkedtest score records to document the evolution of attainment through school fordifferent ethnic groups. The analysis yields a number of striking findings. First,we show that, controlling for personal characteristics, all...

We document ethnic segregation in secondary schools in England in 2001 inorder to contribute to the debate on the degree of ethnic group social integration.We use indices of dissimilarity and isolation to compare the patterns ofsegregation across nine ethnic groups. We find that levels of ethnic...

This article, based on two books (Barr and Diamond 2008, forthcoming), sets out a series of principles for pension design rooted in economic theory: pension systems have multiple objectives, analysis should consider the pension system as a whole, analysis should be framed in a second-best...

This report is the first policy study of the China Economic Research and AdvisoryProgramme, in which eminent economists from China and abroad have participated. Thereport focuses on the problems faced by China in the reform of its social security system.On the basis of economic principles and...