Brotherhood of St Laurence

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Economic class and the distribution of income : a time-series analysis of the UK economy, 1955-2010 /

by Cuestats, Juan Carlos | University of Sheffield. Department of Economics | Philp, Bruse.

Publisher: Sheffield, U.K. University of Sheffield. Department of Economics 2011Description: PDF.Other title: Sheffield Economic Research paper series ; no. 2011012.Online Access: Electronic copy Notes: April 2011 Includes Bibliography and appendix INTO AND OUT OF WORKSummary: This paper contributes to our understanding of the determinants and dynamics of a Marxian surplus-value rate using quarterly UK data, 1955-2010, and the Johansen (1988, 1991) cointegration and vector error correction model (VECM). A conceptual model is introduced to define surplus-value and its component parts, before elaborating on theoretical issues which are important in estimating the rate. In the empirical analysis we seek to explain distributive conflict, paying attention to three forces which are traditionally seen as drivers of power in distributional struggle: (i) political party; (ii) the size of the 'reserve army' of the unemployed; (iii) working class militancy. Our results suggest a positive impact of unemployment on the rate of surplus-value, and that falling working class militancy tends to raise the rate. Political party also affects the rate of surplus-value with a negative impact on the rate emanating from movement to left-wing government. This analysis demonstrates the ongoing relevance of Marxian economics in providing an alternative, robust and significant explanation of distribution in the post-war UK economy.Availability: (1)

Persistent poverty and children's cognitive development : evidence from the UK Millennium Cohort Study /

by Dickerson, Andy | University of Sheffield. Department of Economics | Popli, Gurleen.

Publisher: London, U.K. Centre for Longitudinal Studies 2012Description: PDF.Other title: University of London. Institute of Education. Centre for.Online Access: Electronic copy Notes: June 2012 Bibliography : p. 40-41Summary: Data from four sweeps of the UK Millennium Cohort Study (MCS) of children born at the turn of the century were used to document the impact that poverty, and in particular persistent poverty, has on their cognitive development in their early years. Using both regression-based seemingly unrelated regressions estimation (SURE) and structural equation modelling (SEM), it was shown that children born into poverty have significantly lower test scores at ages 3, 5 and 7, and that continually living in poverty in their early years has a cumulative negative impact on their cognitive development. For children who are persistently in poverty throughout their early years, their cognitive development test scores at age 7 are more than 10 percentile ranks lower than children who have never experienced poverty, even after controlling for a wide range of background characteristics and parenting investment.Availability: (1)

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