This paper proposes a model of wealth distribution dynamics with a capital market imperfection and a production function where public capital is complementary to private capital. A unique invariant steady-state distribution is derived, with three social classes: subsistence workers, 'government...

Under which circumstances do oligopolists have an incentive to share private information about a stochastic demand or stochastic costs? We present a general model which includes virtually all models of the existing literature on information sharing as special cases. The analysis reveals that in...

This paper represents the results of a small-scale qualitative study, exploring public perceptions of the redistributive effects of taxation and public spending in the UK. Redistribution is not at the top of people's minds when they consider these issues and it is a complex subject on which they...

Recent government pronouncements in the UK and above all the recent Conservative Party (2008) policy document on welfare reform suggest that US welfare reform is increasingly being taken as a model for the UK. What lessons should the UK draw from US experience? The long established means tested...

In this paper we explore the association between family income and children's cognitive ability (IQ and school performance), socio-emotional outcomes (self esteem, locus of control and behavioural problems) and physical health (risk of obesity). We develop a decomposition technique that allows...

Children's lives have been transformed over the past century. Family incomes have increased, children lead more solitary lives, attitudes to childhood have changed, new products have been developed and commercial pressures on children have increased. The importance of these commercial pressures...

This paper examines whether and how socio-economic status is associated with children's behavioural development in today's children. Using a large cohort of English children born in the early 1990s we find significant social inequalities in several dimensions of child behaviour at age 7. We...

The arguments for refinancing the European Union's (EU) higher education via higher tuition fees largely rest on preserving the profitability of the educational investment and offering deferred and income-contingent payments. Using income survey datasets on Belgium, Germany and the United...

There is plenty of evidence across the EU to suggest that young people from poorer backgrounds are less likely to attend tertiary education than their better-off peers. This correlation is often used to justify monetary transfers to families with students. It is not clear, however, that these...

UK government policy encourages mothers of young children in low-income families to enter or return to work, via tax credit subsidies and support for childcare. Maternal employment is seen a central plank in the campaign against child poverty, both because it raises income immediately and...