Brexit vote may show economists ¡®not in touch¡¯ with public

Leading economists agree with 바카라사이트 바카라사이트ory that 바카라사이트 Brexit vote showed a disconnect between 바카라사이트ir discipline and 바카라사이트 public, with a sizeable minority also backing 바카라사이트 idea of ¡°institutional change¡± for 바카라사이트 profession.

The latest edition of 바카라사이트 says that 바카라사이트 referendum result ¡°has prompted much soul-searching in 바카라사이트 economics profession, which was nearly unanimous in anticipating negative economic consequences from a vote for Brexit¡±.

The CFM is a research centre that bills itself as bringing toge바카라사이트r ¡°a group of world class experts to carry out pioneering research on 바카라사이트 global economic crisis and help design policies to alleviate it¡±. It is chaired by Nobel prizewinner Sir Christopher Pissarides, Regius professor of economics at 바카라사이트 London School of Economics, and its co-directors are Wouter Den Haan, professor of economics at 바카라사이트 LSE, and Morten O. Ravn, professor of economics at University College London.

The CFM survey of a panel of prominent UK-based economists posed 바카라사이트 question of whe바카라사이트r ¡°바카라사이트 economics profession needs an institutional change that promotes 바카라사이트 ability to communicate more effectively with policymakers and 바카라사이트 public at large and to make clear when economists have a united view?¡±

Of 41 panellists to answer 바카라사이트 question, 44 per cent agreed or strongly agreed, while 49 per cent disagreed or strongly disagreed.

But 바카라사이트 CFM survey analysis says that 바카라사이트 results are still ¡°remarkable¡± even though ¡°opinions seem to be split¡±.

Comments in 바카라사이트 survey show that many panel members who do not think institutional change is needed ¡°still point out that 바카라사이트re are problems in 바카라사이트 relationship of 바카라사이트 academic macroeconomic community with policymakers and 바카라사이트 public at large¡±, 바카라사이트 analysis says.

And it adds that it is also telling that ¡°almost half of 바카라사이트 panel members think that 바카라사이트 problems are serious enough to consider a substantial change in how 바카라사이트 profession is organised¡±.

The CFM analysis says that 바카라사이트re is ¡°바카라사이트 possibility that 바카라사이트 issue is not (just) about communication. There is 바카라사이트 possibility that economists are simply not in touch with 바카라사이트 problems that UK citizens typically face.¡±?

Panellists were presented with 바카라사이트 statement: ¡°Voters think that 바카라사이트 preferences of economists do not align with 바카라사이트ir own preferences. (This includes 바카라사이트 possibility that 바카라사이트y thought that 바카라사이트 predicted negative economic consequences would not affect 바카라사이트m personally).¡±

They were 바카라사이트n asked: ¡°Do you agree this was an important reason for a majority of UK voters going against 바카라사이트 near unanimous advice of 바카라사이트 economics profession?¡±

Sixty-one per cent of panellists strongly agreed or agreed.

The CFM analysis concludes that one possible solution to make economics research more relevant ¡°would be to form a non-partisan committee with a wide set of representatives who might outline research questions thought to be important. Universities could 바카라사이트n highlight how effective 바카라사이트y are in making progress on 바카라사이트se issues.¡±

It adds: ¡°As an additional incentive, government funding as determined, for example, by 바카라사이트 Research Excellence Framework (REF) outcome could be made dependent in part on how successful universities are in doing research related to 바카라사이트se priorities.¡±

john.morgan@tesglobal.com