Economics Observatory | Questions and answers about coronavirus and the UK economy

Three centuries of UK business cycles: what lessons for today?

Evidence from 300 years of peaks and troughs in UK economic activity reveals that while the frequency of recessions has declined to a historical low, the duration and amplitude have not. A recession may result from a variety of causes, with a typical cost to the economy of 4% of initial GDP.

Data Hub

Live and interactive charts and visualisations, making sense of the latest numbers

Energy & climate change

How can carbon tagging digital payments help to tackle climate change?

The majority of the goods and services that we purchase each day generate greenhouse gas emissions. Linking the digital data on these transactions to their carbon footprint could help households and businesses to make more informed decisions, and enable better targeted policy interventions.

Schools, universities & training

Teacher strikes: what consequences for pupils?

Many schools in England and Wales will close this week as teachers go on strike for better pay and working conditions. Research shows that pupils may suffer consequences that can last a lifetime. The costs of industrial action reveal the large value that teachers bring to the economy.

Banks & financial markets

What can happen when economic policy-makers lose credibility?

Fears that central banks’ commitment to low inflation is weakening or that a government’s fiscal plans are uncosted, unchecked and unfunded can be highly damaging for households, businesses and the public authorities themselves. A lack of credibility is a disaster for policy-makers.

Attitudes, media & governance

The US mid-term elections of 2022: what influenced the outcomes?

Predictions of a sweeping victory for the Republicans in the US mid-term elections were unfounded. This was largely a result of the party nominating some extreme candidates, high voter turnout, particularly among younger people, and divisive issues such as abortion rights and gun control.

Schools, universities & training

How might changes in student visa provision affect UK immigration levels?

Net migration to the UK has reached record highs. International students are included in the immigration statistics and the government has implied it may seek to limit their future numbers. More research is needed to design effective policies on student visas and post-study work rights.

Crime & policing

How did levels of UK hate crime change during and after Covid-19?

Levels of ethnic, racial and sexual harassment in the UK declined during the pandemic. This was largely driven by the reduction of time that people spent in public places due to lockdowns and other social restrictions.

Schools, universities & training

Generation Covid: how is the pandemic affecting the young?

The past year has been one of the most volatile periods of education policy in history. It is proving costly for every age group of young people: from pre-school through to further and higher education, and those starting out in their careers.

Banks & financial markets

Will the Edinburgh Reforms help to boost UK consumer spending?

In late 2022, the Chancellor announced a package of regulatory initiatives for the UK’s financial sector. How the so-called Edinburgh Reforms will affect consumer spending – and the country’s economic performance more broadly – is uncertain. But a ‘turbocharging’ of economic growth seems unlikely.

News

The next chapter

The Economics Observatory has been awarded funding for a further two years. Plans are already in place for new collaborations with colleagues from central government, the devolved nations, and the regions of the UK. The Data Hub is going to grow, and there are plenty of events in the diary already.

Schools, universities & training

How has Covid-19 affected inequalities between state and private schools?

Covid-19 caused significant and widespread disruption to young people’s education. But the effects were not the same for everyone. Many pre-existing inequalities have been exacerbated, including those between state schools and independent schools.

Schools, universities & training

How can education and skills contribute to levelling up?

Education and skills contribute to differences in earnings and opportunities across generations, both at the national level and between local authorities in England. Targeted policies can help to reduce the gaps between individuals and contribute to efforts to level up the UK economy.

Schools, universities & training

How might teacher shortages be reduced?

Shortages of school teachers – caused by a long-term decline in the competitiveness of their pay as well as challenging working conditions – are a global concern. Effective policy interventions could include targeted pay supplements and encouraging more supportive leadership practices in education.

Communicating economics

What’s worth reading over the holidays?

Some of the lead editors of the Economics Observatory have shared their book recommendations for the holiday season. From history to big tech and economic models to immigration, there’s plenty to keep you busy until we start back in the new year.

All Answers