Author: Chenyang Li

Inspired by the likes of Alvin Roth, Chenyang believes in the power of economics as a force for good. He is interested in development economics and game theory, particularly in the use of econometrics and machine-learning models to optimise sustainability and societal well-being.
Economics, Europe, History, UK

The Galloway Hoard: Economics of the Early Middle Ages

The Galloway Hoard is more than just buried treasure. Discovered in 2014, this Viking-age deposit offers a glimpse of life during the Early Middle Ages, a century after the first Viking raids across Scotland. The collection contains more than 100 silver, gold, glass, rock crystal, stone, and earthen objects, most of which date to roughly 900AD. Our modern stereotype of the Viking age is framed … Continue reading The Galloway Hoard: Economics of the Early Middle Ages

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Chart of the Month, UK

Chart of the Month – November 2021

UK vacancies are at a record high. November’s Chart of the Month examines the causes behind this unprecedented labour shortage and its implications on the UK’s economic recovery. During pandemic restrictions, domestic aggregate demand for consumer goods and services slumped. Businesses faced sharp falls in revenues and a loss of profitability. Without government support, many firms would have shut their doors forever. To prevent irreversible … Continue reading Chart of the Month – November 2021

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Economics, International, Long Read

Modelling Supply and Demand: An Investigation of Price Volatility

Introduction     For those who have lived through a pandemic, price volatility is no new phenomenon. In the early days of lockdown restrictions, dramatic images of empty shelves surfaced across media outlets, prompting fears of widespread shortages and price increases. Economic theory provides a standard explanation: a change in consumer preferences (as the jargon goes) results in a rightwards shift in demand. This leads to shortages, … Continue reading Modelling Supply and Demand: An Investigation of Price Volatility

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Chart of the Month, Environment, UK

Chart of the Month – October 2021

The lines show the number of publicly available electric vehicle (EV) charging points in each region of the UK, per 100,000 people. London is included as an outlier. The grey bars show the number of devices installed per month for the Electric Vehicle Homecharge Scheme. It is read off the secondary axis, on the right-hand side of the graph. October’s Chart of the Month focuses … Continue reading Chart of the Month – October 2021

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Asia, Development, Economics, Politics

The Economic Legacy of Tokyo 2020

Tokyo 2020 was a world-first in many ways. Amidst two golden weeks, the Games bore witness to sporting history, as well as heart-warming displays of camaraderie and sportsmanship. Held when Japan was in the grip of the pandemic, these Games were the first without a live audience. They were the first games for surfing, skateboarding, and karate. They saw the first golds for nations including … Continue reading The Economic Legacy of Tokyo 2020

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Economics, International, Politics, UK

Financing Think Tanks

Think tanks are defined by the Oxford English Dictionary as “a research institute or other organization providing advice and ideas on national or commercial problems.” In modern democracies, think tanks play a crucial role in economic decision-making. They help the public to understand both sides of important policy decisions whilst holding governments to account. They also help policymakers: governmental entities, such as the Low Pay … Continue reading Financing Think Tanks

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Business and Technology, Chart of the Month, UK

Chart of the Month – September 2021

This month’s Chart of the Month shows the real (inflation-adjusted) monthly value of UK fish and shellfish exports, bound for EU destinations. It reflects the short-term and potential long-term impacts of Brexit on UK businesses.  Over the last twenty years, fish exports to the EU have remained relatively stable. The spike in August 2003 is unexplained, although it may have been caused by an unexpected … Continue reading Chart of the Month – September 2021

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Chart of the Month

Chart of the Month – August 2021

August’s Chart of the Month shows the proportion of English students in state-funded and independent schools who achieved A*-As, from 2014 to 2021. It highlights the pandemic’s impacts on education in the UK. In March 2020, the government cancelled public exams. Students instead received a centre assessed grade, based on what they most likely would have achieved. Grade inflation would be mitigated by statistical methodologies … Continue reading Chart of the Month – August 2021

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Development, Keynes Society Reports, Politics

Sir Tim Besley: “State Capacity and Economic Development”

The Keynes Society was delighted to virtually host Professor Sir Timothy Besley, a world-renowned economist in the field of development economics and development policy foundations. Professor Sir Besley is a professor of development economics at the London School of Economics and a fellow of All Souls College Oxford, having served on the Monetary Policy Committee of the Bank of England and as President of the … Continue reading Sir Tim Besley: “State Capacity and Economic Development”

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Chart of the Month

Chart of the Month – July 2021

This Chart of the Month shows the price of the EU Emissions Trading Scheme (ETS). The EU ETS aims to reduce net greenhouse gas emissions within the EU. It is a market-based intervention. Greenhouse gases have made catastrophic weather events much more likely. This summer, we saw devastating floods across Europe, which killed over 300 people. In the US, wildfires torched almost 1.4 million hectares … Continue reading Chart of the Month – July 2021

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