scholarly journals The long-term impact of trade with firm heterogeneity

2020 ◽  
Vol 156 (4) ◽  
pp. 887-919
Author(s):  
Guzmán Ourens
Keyword(s):  
Firm Heterogeneity ◽  
Welfare Effects ◽  
Empirical Literature ◽  
Average Efficiency ◽  
Welfare Losses ◽  
Long Term Impact ◽  
The Uk ◽  
Firm Selection ◽  
Future Growth

Abstract This paper explores the welfare effects of openness in a setting with firm heterogeneity and country asymmetry and presents results in terms of the well-known formula from Arkolakis et al. (Am Econ Rev 102(1):94–130, 2012). By allowing agents to save and the economy to grow, new channels for the welfare effects of openness appear, since firm selection affects the value of accumulated savings and the average efficiency of the economy, and therefore its future growth rate. Country asymmetry yields differentiated, and in some cases opposite, results between countries. In line with the empirical literature, net welfare effects in each region depend on countries’ specific conditions and losses may occur. A numerical exercise fits the model to the UK and EU economies to show the magnitude and direction that each effect can take if trade barriers increase between them. It is shown that welfare losses for UK consumers can be greatly underestimated if asymmetries and dynamics are removed from the analysis.

scholarly journals ABCD position statement on risk stratification of adult patients with diabetes during COVID-19 pandemic

2021 ◽  
Author(s):  
Dinesh Nagi ◽  
Emma Wilmot ◽  
Karissa Owen ◽  
Dipesh Patel ◽  
Lesley Mills ◽  
...  
Keyword(s):  
Diabetes Care ◽  
Clinical Care ◽  
Position Statement ◽  
Specialist Care ◽  
Long Term Conditions ◽  
Use Of Technology ◽  
Patients With Diabetes ◽  
Long Term Impact ◽  
The Uk

At the time of submission of this manuscript, the COVID-19 pandemic had cost nearly 60,000 lives in the UK. This number currently stands at over 120,000 deaths. A high proportion (one third) of these lived with diabetes. The huge acute and emergency medicine effort to support people with COVID-19 has had a major knock-on impact on the delivery of routine clinical care, especially for long-term conditions like diabetes.Challenges to the delivery of diabetes services during this period include a reduction in medical and nursing staff, limitations placed by social distancing on physical clinical space, and balancing virtual vs face-to-face care. There is a need to re-group and re-organise how we deliver routine out-patient adult diabetes services during the ongoing COVID-19 pandemic. We offer some suggestions for how patients can be stratified into red (urgent), amber (priority) and green (routine) follow up with suggestions of how often people should be seen. We also offer recommendation on how we can identify those at highest risk and try and minimise the long- term impact of COVID on diabetes careDuring the COVID pandemic we have seen things happen in days that previously took years. The restart of diabetes services has triggered a more widespread use of virtual consultations and data management systems, but also offers an opportunity for more joined-up and cohesive working between primary and specialist care. While we do our best to keep our patients and colleagues safe, this pandemic is already proving to be a catalyst for change, accelerating the appropriate use of technology in diabetes care and implementing innovative solutions. To achieve this aspiration, further work – currently led by the Association of British Clinical Diabetologists in collaboration with Diabetes UK and the Primary Care Diabetes Society – to make recommendations on future proofing diabetes care in UK is in progress.

Lucky or privileged? Working with memory and reflexivity

2018 ◽  
Vol 47 (2) ◽  
pp. 208-216 ◽  
Author(s):  
Christine Trimingham Jack
Keyword(s):  
Teacher Educator ◽  
Boarding School ◽  
School Experience ◽  
Unique Contribution ◽  
Content Type ◽  
Educational History ◽  
Secondary Sources ◽  
Long Term Impact ◽  
The Uk

Purpose Through a case study of the decision making that led to the writer becoming a teacher educator, the purpose of this paper is to contribute to historiography by exploring the complex process of surfacing and interpreting memory. Design/methodology/approach The methodology draws on the concepts of autobiographical memory and reflexivity, together with documentary and archival sources including newspapers and secondary sources. Findings The outcome reveals that the process of memory is complex. It illustrates that allowing the participant a wide scope to work with pivotal memories, which may include those referring to material objects, may lead to unexpected and compelling explanations that have the power to change thinking in regards to related aspects of educational history. In this particular case, the findings reveal the long-term impact of boarding school experience. Originality/value The paper expands the way in which educational historians may think about undertaking interviews by illustrating the need for investment of time and close attention to all memories, some of which may at first seem to be irrelevant. Additionally, while a significant amount of research had been published on the long-term impact of boarding school experience on students in the UK, a little critical historical work has been undertaken in regards to the Australian experience – this paper offers a unique contribution to the undertaking of that project.

scholarly journals The Safe Standing movement in English football: Mobilizing across the political and discursive fields of contention

2021 ◽  
pp. 001139212110176
Author(s):  
Mark Turner
Keyword(s):  
Social Movement ◽  
Critical Mass ◽  
The Political ◽  
Cultural Consumption ◽  
Relational Sociology ◽  
Relational Networks ◽  
Football Fans ◽  
Long Term Impact ◽  
The Uk

Twenty-eight years after the Taylor Report into the Hillsborough disaster recommended that all football grounds in the top two divisions in England and Wales should become all-seated, the UK government, in 2018, announced a review into the safety of modern standing areas and whether developments in stadium safety might justify changing the all-seating legislation to permit Safe Standing. These events are the outcome of a 30-year social movement in which a critical mass of supporters, through the relational networks they formed, have built collective action. Drawing upon both archival and fieldwork research to analyse the longer-term impact which all-seated stadia have had on football supporters’ consumption of the game in England, the article uses relational sociology to tell the story of the movement, and studies the working tactics and structure of a small network mobilizing across the political and discursive fields of contention post-Hillsborough. It argues that whilst now a more effective movement with technological and political capital, Safe Standing continues to raise important questions around the historical views on football fans as somehow deviant and reinforces the long-term impact and legacy of Hillsborough on supporters’ modern cultural consumption of the game by moving within the parameters of the all-seating legislation.

Post-pandemic challenges for all ages in an ageing society

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Stephen Burke
Keyword(s):  
Life Expectancy ◽  
Older People ◽  
Scenario Planning ◽  
Ageing Society ◽  
Content Type ◽  
The Future ◽  
Long Term Impact ◽  
The Uk ◽  
The Way

Purpose This paper aims to highlight lessons from the COVID-19 pandemic for planning for the future of our ageing society. It looks at trends, changes in our society and implications for people of all ages. It focusses on the importance of planning and whether COVID-19 will lead to long-term changes. Design/methodology/approach This paper draws on the author’s experiences running an intergenerational organisation during the pandemic and other work associated with ageing well. Findings This paper highlights some of the risks and unknowns we face going forwards and points to lessons and opportunities for “building back better”. Research limitations/implications This paper is based on a review of published articles and viewpoints. Practical implications The COVID-19 pandemic has challenged people of all ages in different ways, some of which have tested intergenerational solidarity. At the same time, the pandemic has raised issues which we must all address going forward: planning for future pandemics, planning for an ageing society and ensuring that future planning works for all generations. This paper explores all these themes in the light of lessons from COVID-19. Firstly, despite much risk assessment and scenario planning, we were not well placed in the UK or across the world to respond to the multiple challenges of COVID-19. Have we learned the lessons to be able to deal better with the inevitable pandemics that will follow in the future? It is also well documented that the pandemic has exacerbated existing inequalities in our society. What will the long-term impact be for longevity and will less healthy lives reverse the trend of increasing life expectancy? Secondly, what are the lessons for our ageing society? As life expectancy rises, what will the quality of life be like in those added years? Many of today’s babies can expect to have a 100-year life. What does that mean for the way we lead our lives and can we ensure that everyone can age well? Third, these are not just issues for older people, but for people of all ages and generations. The Covid-19 experience has been different for younger and older people – whether it has been health or job security, income, taxation or housing. Questions of intergenerational fairness have again raised their heads, alongside the longer term impact for future generations. Social implications Firstly, despite much risk assessment and scenario planning, we were not well placed in the UK or across the world to respond to the multiple challenges of COVID-19. Have we learned the lessons to be able to deal better with the inevitable pandemics that will follow in the future? It is also well documented that the pandemic has exacerbated existing inequalities in our society. What will the long-term impact be for longevity and will less healthy lives reverse the trend of increasing life expectancy? Secondly, what are the lessons for our ageing society? As life expectancy rises, what will the quality of life be like in those added years? Many of today’s babies can expect to have a 100-year life. What does that mean for the way we lead our lives and can we ensure that everyone can age well? Thirdly, these are not just issues for older people, but for people of all ages and generations. Measures that bring older and younger people together and encourage meaningful mixing will help increase understanding and awareness between generations. This has huge implications for our society and communities. Originality/value This paper reaches two main conclusions. Firstly, the well-known saying: “failing to plan is planning to fail”. This applies to all the issues discussed in this paper re future pandemics, our ageing society and future generations. Secondly, the experience of the COVID-19 pandemic should be the catalyst for changing the way we live and lead to new beginnings. We cannot just carry on as before.

Acquisitions and the shareholder base

2019 ◽  
Vol 45 (10/11) ◽  
pp. 1416-1432
Author(s):  
Nicholas Wonder ◽  
Claire Lending
Keyword(s):  
Design Methodology ◽  
Market Value ◽  
Empirical Literature ◽  
Content Type ◽  
Short And Long Term ◽  
Long Term Impact ◽  
The Impact ◽  
Instrumental Variables Approach ◽  
Practical Implications

Purpose The purpose of this paper is to study the impact of acquisitions on the number of shareholders of the acquirer (the shareholder base) and relate that effect to the method of payment and the ratio between the target’s and acquirer’s shareholder bases prior to the acquisition. Design/methodology/approach Using 348 acquisitions from 1993 to 2013 for which both parties are public, American firms, the paper measures changes in the acquirer’s shareholder base from before announcement through to four years after completion. OLS regressions, together with an instrumental variables approach addressing the endogeneity of acquisition payment, indicate the determinants of those changes. Findings Acquisitions completed partly or entirely in stock lead to large increases in the shareholder base, and the increases mostly endure over the four-year window examined in the study. Regression results indicate that the target to acquirer shareholder ratio has a much greater impact on the acquirer’s base for stock acquisitions than for cash acquisitions. The ratio is also associated with changes in beta. Practical implications Because existing theoretical and empirical literature shows that the shareholder base impacts the risk, liquidity, and market value of stock, managers evaluating potential targets and modes of payment may wish to consider the likely impact on their firms’ shareholder bases, as may investors contemplating the effects of an acquisition announcement. Originality/value This is the first work documenting both a short- and long-term impact of acquisitions on the shareholder base and the first to investigate the determinants of the change in the base.

What does Brexit mean for UK cultural and creative cities?

2020 ◽  
pp. 096977642097063
Author(s):  
Valentina Montalto ◽  
Francesco Panella ◽  
Pier Luigi Sacco
Keyword(s):  
Soft Power ◽  
Creative Economy ◽  
Creative Potential ◽  
Growth Cycles ◽  
Creative Cities ◽  
Urban Level ◽  
Policy Measures ◽  
The Uk ◽  
Future Growth

Cultural and creative sectors (CCS) are increasingly recognized as a driving economic force. In addition to their undisputed soft power, creative jobs are expected to prove more resilient to automation, and may therefore play an important role in the future growth cycles of advanced global economies. But how is Brexit going to affect the UK’s flourishing creative economy at an urban level? Pre-Brexit evidence from the European Commission’s Cultural and Creative Cities Monitor (CCCM) clearly shows that UK cultural and creative cities excel in Europe in their capacity to attract and integrate foreign creative professionals. Creative non-nationals represent a diverse, crucial human capital pool for CCS, as 22% of CCS employers hire at least one non-UK worker. The effect of Brexit on the cultural and creative potential of UK cities can be devastating for CCS competitiveness if not properly addressed. As CCSs are widely regarded as leading sectors of the UK economy and major drivers of innovation and growth in the UK’s long-term developmental vision, suitable policy measures should be taken to prevent this possibility.

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