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

Digital economy

Digital technologies play an ever-increasing role in our lives – and the pandemic has seen this trend accelerate. Effective regulation of digital platforms, resilience of the networks and equitable, universal access are among the challenges facing policy-makers.

Health, physical & mental

How is coronavirus catalysing changes in digital health?

Healthcare professionals’ use of remote consultations, electronic prescription services and other digital health systems has grown during the pandemic, as has investment in these technologies by governments and the private sector. It is unclear whether these trends will continue beyond Covid-19.

Science, technology & innovation

What are the social responsibilities of the dominant digital platforms?

Most digital platforms have emerged as big winners from the pandemic. Yet they are under regulatory pressure on both sides of the Atlantic. A fundamental question is whether and how these businesses should be held accountable for what happens on their websites.

Science, technology & innovation

Big Tech: how can we promote competition in digital platform markets?

With the growing market dominance of digital platforms like Amazon, Apple, Facebook and Google, calls for an effective policy response have become louder. New competition regulations are on the horizon, but international cooperation is needed for them to succeed.

Banks & financial markets

Dogecoin: what is it and does it have any value?

From Bitcoin to Ethereum and Litecoin to Tether, there are now over 4,000 cryptocurrencies in circulation. Dogecoin, a so-called meme cryptocurrency, began as a joke but it is now mined at a rate of 10,000 new coins every minute.

Banks & financial markets

Are we in the middle of a tech bubble?

The prices of shares in US technology companies have skyrocketed in recent months. A number of indicators suggest that these firms are overvalued, perhaps the strongest sign of a ‘tech bubble’ being the extent to which insiders are selling their shares.

Data stories

Wales at Euro 2020: are the betting markets underestimating their chances?

The transfer market value of the Welsh football team suggests a higher probability of winning than the bookmakers’ odds; and their veteran star player may be undervalued. Both factors suggest that the chances of success for Wales at Euro 2020 are understated.

Recession & recovery

Will inflation take off in the UK?

Inflation is likely to rise from its current low level due to supply shortages and increased spending. The most probable outcome is a range of 2-3% a year, but it could go higher. Any increase above 3% should be temporary as long as fiscal and monetary policy are set appropriately.

News

International rescue

A busy weekend in international affairs kicks off with G7 leaders discussing the recovery from Covid-19 at the summit in Cornwall – and the opening matches in the UEFA European Football Championship, postponed from 2020. Economists are providing some perspective on both.

Data stories

Is football coming home?

England football fans are starting to sing ‘It’s coming home’; while followers of Scotland and Wales hope their teams can cause a few shocks at Euro 2020. But the chances of these outcomes are slim, despite what’s suggested by the bookmakers’ odds.

Data stories

How does the Cornish economy compare with the rest of the UK?

Leaders of the G7 countries will descend on Cornwall this coming weekend for their 47^th summit. The meeting brings together the world’s most advanced economies, but the county hosting them lags behind the rest of the UK.

Nations, regions & cities

What are the big economic challenges facing the new Welsh Government?

As the dust settles on the Senedd election results, the scale of the economic impact of Covid-19 in Wales is becoming clearer. In the face of huge challenges, the current fiscal outlook implies tough choices and trade-offs for the new Welsh Government.

Schools, universities & training

Update: How has the crisis affected children from poorer backgrounds?

Children from lower-income households face larger learning losses than their peers. Their parents and guardians are also more likely to face reduced earnings as a result of the pandemic. These factors will exacerbate inequality unless policy-makers act now to close the education gap.

Schools, universities & training

What does it mean to decolonise the economics curriculum?

Following last summer’s Black Lives Matter protests, many university departments have been exploring what might be done to ‘decolonise’ the curriculum. Teachers of economics have the apparatus for rigorous discussion of topics like slavery, colonial exploitation and racial bias.

News

Work in progress

Uncertainty about the next stage of the pandemic and the economic recovery persists. Many people’s jobs hang in the balance – and new strains of the virus threaten the path to ‘normality’.

All Answers