Why Have House Prices Risen So High? | Marginal Babble Ep.14 with Professor David Miles CBE

Migrating in a Recession | Marginal Babble Ep.16 with Professor Toman Barsbai

Max and Professor Barsbai sit down to discuss the effects recession have for migrants moving in these time periods, as well as the economic effects of migrants across America and Europe in the current day. Professor Toman Barsbai: https://sites.google.com/view/tomanbarsbai/ Timestamps: 00:00: Introduction. 00:28: What Factors Drive the Economic Integration of Migrants? 05:55: Business Cycle Effects on Migrants. 10:58: Non-Economic Outcomes on Migrants. 11:55: Methodologies of Toman's Research. 15:31: Types of Visas/Migration Paths and Their Impact. 20:19: Why Aren't Asylum Seekers Permitted to Work? 22:10: How Many Refugees are Allowed to Move? 24:14: What is Resettlement & What is the Impact of the Scheme? 26:23: What Policies Could Help Economic Integration of Migrants? 37:22: UK VS EU Refugees. 39:11: Internationally Transferable Qualifications (Under-skilling Issue). 43:44: What Research Toman Would Like to See Conducted in the Future. 45:26: Toman's Other Research. Toman's Research Mentioned: 1) Immigrating into a recession: https://drive.google.com/file/d/1d9z6Ir4huSsI-DZ6Mr9q79Yp8WW8HgQm/view?usp=share_link 2) Pre-departure information for Filipino immigrants to the U.S.: https://drive.google.com/file/d/1K-6AJO_dl5IDCwiQlkgn4ivEx8jTyEMW/view?usp=share_link 3) Mistreatment of migrant workers: https://drive.google.com/file/d/1iu7S3qRASs2gHESaiSj08Q_uXsOIDjbj/view?usp=sharing Socials: Tiktok: https://www.tiktok.com/@marginalbabble Instagram: https://www.instagram.com/maxdorey96/ Twitter: https://twitter.com/MaxDorey1 LinkedIn: https://www.linkedin.com/in/maxwell-dorey-7958a4128/ Website: https://marginalbabble.com/

Economic Consequences of Domestic Violence | Marginal Babble Ep.15 with Professor Sid Bandyopadhyay

1 in 20 people aged 16 and over experienced some form of Domestic Violence and Abuse in 2021/2022 in the UK, per the Office of National Statistics. In light of these numbers, and the impacts of another economic recession in the UK looming large, Max and Professor Sid Bandyopadhyay sit down to discuss the impacts of Domestic Violence on the socio-economic environment. Enjoy! Professor Sidd Bandyopadhyay: https://www.birmingham.ac.uk/staff/profiles/business/bandyopadhyay-siddhartha References 1) Unemployment substantially increases domestic violence, new study finds, CAGE Research Centre, 2021 https://warwick.ac.uk/fac/soc/economics/research/centres/cage/news/05-10-21-unemployment_substantially_increases_domestic_violence_new_study_finds/ 2) Domestic abuse prevalence and trends, England and Wales: year ending March 2021, Office for National Statistics, 2021 https://www.ons.gov.uk/peoplepopulationandcommunity/crimeandjustice/articles/domesticabuseprevalenceandtrendsenglandandwales/yearendingmarch2021 3) Crime in England and Wales: year ending September 2021, Office for National Statistics, 2021 https://www.ons.gov.uk/peoplepopulationandcommunity/crimeandjustice/bulletins/crimeinenglandandwales/yearendingseptember2021 4) Coronavirus: Domestic abuse offences increased during pandemic, BBC News, 2020 https://www.bbc.co.uk/news/uk-55073229 5) The Rise of Intimate Partner Violence During the Great Recession, Mel Policicchio, 2016 https://spia.princeton.edu/news/rise-intimate-partner-violence-during-great-recession 6) About CARA, projectcara.org.uk, 2024 https://projectcara.org.uk/about/ 7) Batterer Intervention Program (BIP), Cunha & Caridade, 2023 https://link.springer.com/referenceworkentry/10.1007/978-3-030-85493-5_88-1 8) Impact evaluation and economic benefit analysis of a domestic violence and abuse UK police intervention, Karavias et al, 2023 https://www.frontiersin.org/journals/psychology/articles/10.3389/fpsyg.2023.1063701/full 9) Regional ethnic diversity, Gov.uk, 2022 https://www.ethnicity-facts-figures.service.gov.uk/uk-population-by-ethnicity/national-and-regional-populations/regional-ethnic-diversity/latest/# 10) Costs per place and costs per prisoner by individual prison, Ministry of Justice, 2023 https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1140557/costs-per-place-and-costs-per-prisoner-2021-to-2022-summary.pdf 11) How Norway turns criminals into good neighbours, BBC News, 2019 https://www.bbc.co.uk/news/stories-48885846 12) Cost of living: Why are things so hard for so many people?, BBC News, 2022 https://www.bbc.co.uk/news/uk-62128069 13) NHS backlog data analysis, British Medical Association, 2024 https://www.bma.org.uk/advice-and-support/nhs-delivery-and-workforce/pressures/nhs-backlog-data-analysis 14) Crime in England and Wales: year ending September 2021, Office for National Statistics, 2021 https://www.ons.gov.uk/peoplepopulationandcommunity/crimeandjustice/bulletins/crimeinenglandandwales/yearendingseptember2021 15) Crime in England and Wales: year ending September 2021, Office for National Statistics, 2021 https://www.ons.gov.uk/peoplepopulationandcommunity/crimeandjustice/bulletins/crimeinenglandandwales/yearendingseptember2021

Why Have House Prices Risen So High? | Marginal Babble Ep.14 with Professor David Miles CBE

In real terms, house prices in the UK have risen considerably over the past several decades, particularly when compared to average incomes. This not only affects the ability of first-time buyers to get on the property ladder, but impacts consumer spending and other aspects of the economy. In this episode of the Marginal Babble Podcast, I sit down with Professor David Miles CBE to discuss real house price inflation and the role interest rates are playing in this regard. David is a professor of financial economics at Imperial university, has held the position of Chief UK Economist at both Merrill Lynch and Morgan Stanley investment banks and was a member of the Monetary Policy Committee at the Bank of England from 2009 to 2015. As ever, referenced research material is included below. Enjoy! Professor David Miles CBE: https://www.imperial.ac.uk/people/d.miles References: 1) UK Interest Rate History / Graph & Facts, propertyinvestmentproject.co.uk, 2024 https://www.propertyinvestmentproject.co.uk/property-statistics/uk-interest-rate-history-graph/ 2) Official Bank Rate history, Bank of England, 2024 https://www.bankofengland.co.uk/boeapps/database/Bank-Rate.asp 3) United Kingdom Historical Inflation Rates, inflationtool.com, 2024 https://www.inflationtool.com/rates/uk/historical 4) Gross domestic savings (% of GDP) – China, World Bank, 2024 https://data.worldbank.org/indicator/NY.GDS.TOTL.ZS?locations=CN 5) Countries in the world by population (2024), worldometers.info, 2024 https://www.worldometers.info/world-population/population-by-country/ 6) Car parc in China from 2011 to 2022, Statista, 2024 https://www.statista.com/statistics/285306/number-of-car-owners-in-china/ 7) UK house prices and three decades of decline in the risk‑free real interest rate, David Miles & Victoria Monro, 2019 https://www.bankofengland.co.uk/working-paper/2019/uk-house-prices-and-three-decades-of-decline-in-the-risk-free-real-interest-rate 8) Countries by Population Density | Countries by Density 2024, worldpopulationreview.com, 2024 https://worldpopulationreview.com/country-rankings/countries-by-density 9) Map of London's Green Belt including sites threatened with development, London Green Belt Council, 2024 https://londongreenbeltcouncil.org.uk/ 10) urban sprawl, John Rafferty, 2024 https://www.britannica.com/topic/urban-sprawl 11) U.K. Fertility Rate 1950-2024, macrotrends.net, 2024 https://www.macrotrends.net/countries/GBR/united-kingdom/fertility-rate 12) What is RAAC concrete and why is it a safety risk?, BBC News, 2023 https://www.bbc.co.uk/news/education-66669239 13) Grenfell Tower inquiry: 9 things we now know about the cladding, Tom Symonds, 2021 https://www.bbc.co.uk/news/uk-56403431 14) 6 Crazy Facts About Tokyo's Population (2021) - Inside the World’s Top Megacity, livejapan.com, 2021 https://livejapan.com/en/in-tokyo/in-pref-tokyo/in-tokyo_suburbs/article-a0002533/ 15) HS2 explained: Why people are fighting the UK’s ‘weak’ and ‘inept’ new railway, Shannon McDonagh, 2021 https://www.euronews.com/green/2021/09/13/hs2-explained-why-people-are-fighting-uk-s-weak-and-inept-new-railway 16) HS2: What is the route and why is the Manchester link scrapped?, BBC News, 2023 https://www.bbc.co.uk/news/uk-16473296 17) UK house prices and three decades of decline in the risk‑free real interest rate, David Miles & Victoria Monro, 2019 https://www.bankofengland.co.uk/working-paper/2019/uk-house-prices-and-three-decades-of-decline-in-the-risk-free-real-interest-rate 18) House price to income ratio in United Kingdom (UK) from 1st quarter 2012 to 3rd quarter 2022, statista.com, 2024 https://www.statista.com/statistics/591728/house-price-to-income-ratio-the-uk/ 19) par excellence, Cambridge Dictionary, 2024 https://dictionary.cambridge.org/dictionary/english/par-excellence 20) First-time buyer statistics and facts: 2023, Claire Flynn, 2023 https://www.money.co.uk/mortgages/first-time-buyer-mortgages/statistics

How Abortion Policy Affects Development | Marginal Babble Ep.13 with Professor Damian Clarke

With the landmark American overturning of ‘Roe vs Wade’ on 24th June 2022, greater focus than ever is being placed on the impacts and arguments surrounding abortion policy. This is further evidenced by how over 60 countries have changed their national abortion policies in the last 30 years alone. In the midst of this controversy, Max and Professor Clarke sit down to discuss his research into the effects of more liberal abortion policies being initiated in Mexico, as well as other evidence to the effects of abortion policy on economic development indicators. Professor Clarke is an Associate Professor in the Department of Economics at the University of Exeter and University of Chille, is a Research Fellow at IZA, and an affiliate with the Millennium Institute for Research in Market Imperfections and Public Policy. As ever referenced research material is included down below. Enjoy! Professor Damian Clarke: https://business-school.exeter.ac.uk/economics/research/subject-themes/profile/index.php?web_id=Damian-Clarke http://damianclarke.net/ References: 1) US supreme court overturns abortion rights, upending Roe v Wade, Glenza et al, 2022 https://www.theguardian.com/world/2022/jun/24/roe-v-wade-overturned-abortion-summary-supreme-court#:~:text=The%20supreme%20court%20has%20ruled,fracture%20reproductive%20rights%20in%20America. 2) WHERE DO ABORTION RIGHTS STAND IN THE WORLD IN 2023?, focus2030.org, 2023 https://focus2030.org/Where-do-abortion-rights-stand-in-the-world-in-2023#:~:text=The%20vast%20majority%20of%20countries,strictly%20prohibited%20in%2024%20countries. 3) Abortion Law: Global Comparisons, Women and Foreign Policy, 2023 https://www.cfr.org/article/abortion-law-global-comparisons#:~:text=In%20the%20last%20thirty%20years,women%20can%20access%20abortion%20services. 4) Taylor Rule Definition, Adam Hayes, 2023 https://www.investopedia.com/terms/t/taylorsrule.asp 5) Nobel Prize: Claudia Goldin wins 2023 award for economics, Arthur Sullivan, 2023 https://www.dw.com/en/nobel-prize-claudia-goldin-wins-2023-award-for-economics/a-67021919 6) fertility rate, Natalie Smoak, 2023 https://www.britannica.com/topic/fertility-rate 7) Fertility rate, total (births per woman), World Bank, 2022 https://data.worldbank.org/indicator/SP.DYN.TFRT.IN?view=map 8) UK population pyramid, Office for National Statistics, 2023 https://www.ons.gov.uk/peoplepopulationandcommunity/populationandmigration/populationestimates/articles/ukpopulationpyramidinteractive/2020-01-08 9) French plan to raise retirement age by two years to 64, Williamson & Fouche, 2023 https://www.bbc.co.uk/news/world-europe-64229379 10) Romania’s abortion ban tore at society, a warning for U.S, Gail Kligman, 2022 https://www.washingtonpost.com/made-by-history/2022/09/15/romania-exposes-how-abortion-bans-kill-women-rip-society-apart/ 11) What Argentina’s ‘green handkerchief’ movement is all about, Jill Filipovic, 2020 https://edition.cnn.com/2020/12/30/opinions/argentina-abortion-legalization-significance-filipovic/index.html 12) Are Abortions Linked to an Increased Risk of Breast Cancer?, Alex Kasprak, 2017 https://www.snopes.com/fact-check/abortion-breast-cancer-link/ 13) End Poverty: Millennium Development Goals and Beyond 2015, un.org, 2023 https://www.un.org/millenniumgoals/ Socials: Tiktok: https://www.tiktok.com/@marginalbabble Instagram: https://www.instagram.com/maxdorey96/ Twitter: https://twitter.com/MaxDorey1 LinkedIn: https://www.linkedin.com/in/maxwell-dorey-7958a4128/ Website: https://marginalbabble.com/

Can you NUDGE Behaviour? | Marginal Babble Ep.12 with Dr Jingnan (Cecilia) Chen

Can we be guided to 'better' decision making? and should we... In this episode of the Marginal Babble Podcast, I sit down with Dr Jingnan (Cecilia) Chen to discuss behavioural nudges, how they can be used to guide our decision making and the ethical questions they pose. Dr Chen has a PhD in Economics from George Mason University, and her research focuses on Behavioural Economics and Game Theory. As ever referenced research material is included below. Enjoy! Timestamps: 00:00 Opening 00:30 Introduction 01:12 What is a ''Nudge"? 02:01 Examples of Nudges 03:59 Ethics of Nudge Use 08:01 "When a nudge is (not) enough" Research Discussion 16:56 What is a Prisoners Dilemma? 20:21 Prisoners Dilemma in the Research 24:35 Takeaways from the Study 29:35 Is the use of Students Compromising Scientific Research? 31:43 Governmental Use of Nudges 34:28 Are Nudges Cost-Effective? 38:39 Should Nudge Use Be Regulated? 40:24 Subscription Auto-Renewals 45:52 What Behavioural Economics Research Should Be Conducted in the Future? 48:55 Cecilia's Other Research 50:23 Outro Dr Cecilia Chen: https://business-school.exeter.ac.uk/people/profile/index.php?web_id=Cecilia_Chen References: 1) When Choice is Demotivating: Can One Desire Too Much of a Good Thing?, Iyengar & Lepper, 2000 https://faculty.washington.edu/jdb/345/345%20Articles/Iyengar%20%26%20Lepper%20(2000).pdf 2) The meaning of default options for potential organ donors, Davidai et al, 2012 https://www.pnas.org/doi/10.1073/pnas.1211695109 3) How to Spot—and Avoid—Dark Patterns on the Web, Eric Ravenscraft, 2020 https://www.wired.com/story/how-to-spot-avoid-dark-patterns/ 4) When a nudge is (not) enough: Experiments on social information and incentives, Jingnan (Cecilia) Chen et al, 2021 https://www.sciencedirect.com/science/article/abs/pii/S0014292121000647 5) Prisoner’s Dilemma, CFI, 2023 https://corporatefinanceinstitute.com/resources/economics/prisoners-dilemma/ 6) Pareto Efficiency, Game Theory 101, 2023 https://gametheory101.com/courses/game-theory-101/pareto-efficiency/ 7) Sustainable Development of the Ocean Economy! | Marginal Babble Ep.11 with Dr Ethan Addicott, Marginal Babble Podcast, 2023 https://youtu.be/hrGOEvdgOfU 8) “Nudge Unit”, Jill Rutter, 2020 https://www.instituteforgovernment.org.uk/article/explainer/nudge-unit 9) Behavioural Economics - What is Loss Aversion?, tutor2u.com, 2023 https://www.tutor2u.net/economics/reference/behavioural-economics-loss-aversion 10) How Much Choice is Too Much? Contributions to 401(k) Retirement Plans, Iyengar et al, 2004 https://academic.oup.com/book/36222/chapter-abstract/315665311?redirectedFrom=fulltext&login=false 11) Axioms of Consumer Preference and Theory of Choice, David Autor, 2010 https://dspace.mit.edu/bitstream/handle/1721.1/109484/14-03-fall-2010/contents/lecture-notes/MIT14_03F10_lec03.pdf 12) The Prize in Economic Sciences 2017, nobelprize.org, 2023 https://www.nobelprize.org/prizes/economic-sciences/2017/popular-information/ 13) Subscription Businesses Are Booming. Here’s How to Value Them, McCarthy & Fader, 2017 https://hbr.org/2017/12/subscription-businesses-are-booming-heres-how-to-value-them 14) She uncovered key drivers of gender differences in the labour market, nobelprize.org, 2023 https://www.nobelprize.org/prizes/economic-sciences/2023/press-release/ 15) How Much Will Climate Change Reduce Productivity in a High-Technology Supply Chain? Evidence from Silicon Wafer Manufacturing, Chen et al, 2023 https://link.springer.com/article/10.1007/s10640-023-00803-4 Socials: Tiktok: https://www.tiktok.com/@marginalbabble Instagram: https://www.instagram.com/maxdorey96/ Twitter: https://twitter.com/MaxDorey1 LinkedIn: https://www.linkedin.com/in/maxwell-dorey-7958a4128/