Wealth and inheritance in Britain from 1896 to the present

Personal wealth has grown since the 1970s twice as fast in real terms as national income. Has this rise in the wealth-income ratio led to a corresponding increase in the wealth being passed on from one generation to the next? Are we returning to the levels of inheritance found in the 19th century? The aim of this paper is to construct UK evidence on the extent of the transmission of wealth in the form of estates and gifts inter vivos. It takes a long-run view of inheritance, starting from 1896, when the modern Estate Duty was introduced, and exploits the extensive estate data published over the years. Construction of a long-run time series for more than a century is challenging, and there are important limitations. The resulting time-series demonstrates the major importance of inheritance in the UK before the First World War, when the total transmitted wealth represented some 20 per cent of net national income. In the inter-war period, the total was around 15 per cent, falling to some 10 per cent after the Second World War, and then falling further to below 5 per cent in the late 1970s. Since then, there has indeed been an upturn: a rise from 4.8 per cent in 1977 to 8.2 per cent in 2006. This increase was more or less in line with the increase in personal wealth, and has to be interpreted in the light of the changing net worth of the corporate and public sectors of the economy.     

From classes to copulas: wages,capital, and top incomes

Public debates about the rise in top income shares often focus on the growing dispersion in earnings, and the soaring pay for top executives and financial-sector employees. But can the change in the marginal distribution of earnings on its own explain the rise in top income shares? Are top executives replacing capital owners in the group of top-income earners, or are we rather witnessing a fusion of top capital and top earnings? This paper proposes an extension of the copula framework and uses it for exploring the changing composition of top incomes. It illustrates that changes in top income shares can easily be decomposed into respective changes in the marginal distributions of labour and capital income and the changing association between the two types of income. An application using tax record data from Norway shows that the association between top labour and capital incomes grew stronger between 1995 and 2005 in the top half of the wage and capital income distribution, though it declined for the top 1% of capital income receivers. A gender decomposition demonstrates that the association of wage and capital incomes at the top is particularly striking for men, whilst women are largely under-represented in the top halves of the two marginal distributions.     

Reducing poverty and inequality through tax-benefit reform and the minimum wage: the UK as a case-study

Atkinson’s book Inequality: What Can Be Done? (Harvard University Press, 2015) sets out a range of concrete proposals aimed at reducing income inequality, which cover a very broad span but include major changes to the income tax and social transfers system and the minimum wage. These are framed with specific reference to the UK but have much broader relevance in demonstrating how substantial the impact on inequality of such measures could be. This paper assesses the first-round effects of these tax, transfer and minimum wage reforms on income inequality and poverty based on a microsimulation approach using EUROMOD. The reforms involve a significantly more progressive income tax structure, a major increase in the minimum wage to the level which is estimated to represent the ‘Living Wage’, and alternative routes to reforming social transfers – either to strengthen the social insurance element or to restructure the entire system as a Participation Income (a variant of Basic/Citizen’s Income). The results show how the first-round effects of either set of tax and transfer proposals would be to substantially reduce the extent of income inequality and relative income poverty and the paper draws out how the two approaches differ in their effects. The additional impact of raising the minimum wage to the Living Wage is modest, reflecting in particular the position of beneficiaries in the household income distribution and the offsetting effects on household income of the withdrawal of means-tested cash transfers.     

Insights from the Evaluation of Past Local Area Population Forecasts

Local area population forecasts have a wide variety of uses in the public and private sectors. But not enough is known about the errors of such forecasts, particularly over the longer term (20 years or more). Understanding past errors is valuable for both forecast producers and users. This paper (i) evaluates the forecast accuracy of past local area population forecasts published by Australian State and Territory Governments over the last 30 years and (ii) illustrates the ways in which past error distributions can be employed to quantify the uncertainty of current forecasts. Population forecasts from the past 30 years were sourced from State and Territory Governments. Estimated resident populations to which the projections were compared were created for the geographical regions of the past projections. The key features of past forecast error patterns are described. Forecast errors mostly confirm earlier findings with regard to the relationship between error and length of projection horizon and population size. The paper then introduces the concept of a forecast ‘shelf life’, which indicates how far into the future a forecast is likely to remain reliable. It also illustrates how past error distributions can be used to create empirical prediction intervals for current forecasts. These two complementary measures provide a simple way of communicating the likely magnitude of error that can be expected with current local area population forecasts.     

Threatened plant species in the river ports of Central Europe: a potential for nature conservation

Industrialized areas represent a special group of urbanized areas, but sufficient attention has not been given to them concerning plant species richness and its importance for biodiversity conservation. These sites are considered the main drivers of biological invasions and biotic homogenization on a global scale, but the question of how and to what degree they contribute to biodiversity has yet to be raised. Data for 62 river ports (16 German, 26 Czech, 7 Hungarian, 4 Slovak, and 9 Austrian) on two important Central European waterways (the Elbe-Vltava and Danube waterways) were gathered for 40 years. In total, 1 240 plant species were found. Of these, 371 were classified as threatened and protected, nearly one third of the total number of species found in all of the studied Elbe, Vltava, and Danube ports. Significant differences in the proportion of threatened species in ports and cities were not found. More threatened species were found in the Danube ports than in the other ports, but their numbers fluctuated depending on the size of the port and the region (country). The results showed that the ports must be regarded as special types of species-rich industrial areas; thus, they should not be considered to be only sources of spreading invasive alien species. When planning port development, uniformity and vegetation management that is too intensive should be avoided. Extensively managed open areas and habitat diversity should be maintained.

     

The history of public relations in Greece from 1950 to 1980: Professionalization of the “art”

The early development of public relations in Greece is explored through a focus on the period between 1950 and 1980. Specifically, the, article considers the origins and early developments, important actors, international influences, professional bodies and the field of practice. It is found that Greek business public relations were greatly influenced by American practices and through influential practitioners’ contact with the International Public Relations Association (IPRA).     

Norms,status and the dynamics of advice networks: A case study

The issue of the influence of norms on behavior is as old as sociology itself. This paper explores the effect of normative homophily (i.e. “sharing the same normative choices”) on the evolution of the advice network among lay judges in a courthouse. 0020 and 0025 social exchange theory suggests that members select advisors based on the status of the advisor. Additional research shows that members of an organization use similarities with others in ascribed, achieved or inherited characteristics, as well as other kinds of ties, to mitigate the potentially negative effects of this strong status rule. We elaborate and test these theories using data on advisor choice in the Commercial Court of Paris. We use a jurisprudential case about unfair competition (material and “moral” damages), a case that we submitted to all the judges of this court, to test the effect of normative homophily on the selection of advisors, controlling for status effects. Normative homophily is measured by the extent to which two judges are equally “punitive” in awarding damages to plaintiffs. Statistical analyses combine longitudinal advice network data collected among the judges with their normative dispositions. Contrary to what could be expected from conventional sociological theories, we find no pure effect of normative homophily on the choice of advisors. In this case, therefore, sharing the same norms and values does not have, by itself, a mitigating effect and does not contribute to the evolution of the network. We argue that status effects, conformity and alignments on positions of opinion leaders in controversies still provide the best insights into the relationship between norms, structure and behavior.     

Univariate and multivariate models of positive and negative networks: Liking,disliking, and bully–victim relationships

Three relations between elementary school children were investigated: networks of general dislike and bullying were related to networks of general like. These were modeled using multivariate cross-sectional (statistical) network models. Exponential random graph models for a sample of 18 classrooms, numbering 393 students, were summarized using meta-analyses. Results showed (balanced) network structures with positive ties between those who were structurally equivalent in the negative network. Moreover, essential structural parameters for the univariate network structure of positive (general like) and negative (general dislike and bullying) tie networks were identified. Different structures emerged in positive and negative networks. The results provide a starting point for further theoretical and (multiplex) empirical research about negative ties and their interplay with positive ties.     

Portuguese Scientists’ Migration: a study on the 2008 crisis aftermath

In the economic and social aftermath of the 2008 crisis there has been an important and growing new wave of highly qualified Portuguese emigration comprising scientists. No or very few public policies have been designed to reverse this phenomenon, risking the consequences of brain drain. International literature argues that professional reasons are central to scientists’ decision to migrate, even after the 2008 crisis. Spending some time in a foreign country to study, research, or teach, is perceived as a common step in an individual academic trajectory and an advantage for a successful professional career in academia. It is also encouraged by European Union policies. Twelve individual portraits of Portuguese scientists living in central Europe reveal how important other factors are to the migration decision‐making process. These factors include the economic crisis, student mobility programmes, and the current Portuguese scientific system revision.