ESRC Centre for the Microeconomic Analysis of Public Policy (CPP) at IFS

The ESRC Centre for Microeconomic Analysis of Public Policy is central to the research carried out and disseminated by IFS. The IFS as a whole seeks to carry out empirical microeconomic work of the highest quality and relevance, and to impact on policy and the public debate.   CPP logo

The ESRC Centre is fundamental to the Institute’s success. It provides the long-term funding that allows IFS to carry out groundbreaking independent research in economics and microeconometrics, and to invest in developing a unique range of models and datasets. It is only through ESRC Centre funding that the IFS is able to maintain the combination of impartiality, rigour and authority which are essential if we are to continue to achieve wide-ranging impact on policy and to inform the public debate. It ensures that any evidence given at a select committee, appearance on broadcast media or briefing to ministers or industry leaders is underpinned by deep, unbiased intellectual foundations.

 

The Centre has received funding from the ESRC for five years from autumn 2015. A launch event was held on Friday 15 October.

 

Centre funding contributes to the website, Microeconomic Insights, which is a home for accessible summaries of high quality microeconomic research which informs the public about microeconomic issues that are, or should be, in the public’s eye.

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Discount rate heterogeneity among older households: a puzzle?

| Journal Articles

We put forward a method for estimating discount rates using wealth and income data. We build consumption from these data using the budget constraint. Consumption transitions yield discount rates by household groups. Applying this technique to a sample of older households, we find a similar distribution to those previously estimated using field data, though with a much lower mean than those found using experiments. Surprisingly, among this older population, patience is negatively correlated with education and numeracy. This goes against the positive correlation found for younger populations in experiments and some field studies. We discuss potential explanations for this result.

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IFS wins Prospect economic think-tank of the year

For the third year in a row, the IFS has won the Prospect award for best economics and finance think tank. The judges praised the IFS for building on its unrivalled authority on the public finances.

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Conference

IFS public economics lectures

Date:
| 09:30 - 16:30
Location: Institute for Fiscal Studies

The Institute for Fiscal Studies is holding a day of talks on issues in public economics of interest to undergraduates in economics and related disciplines. The aim will be to focus on the policy implications of research carried out at the institute.

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