Would Scotland be better off in economic terms as an independent country? Not according to an overwhelming majority of respondents to the third monthly survey of the Centre for Macroeconomics (CFM), summarised in this column. As the Scottish electorate prepares to vote on independence in September, a smaller majority of the CFM experts agree that the UK would be acting in its own economic interests by ruling out a monetary union with an independent Scotland.
Angus Armstrong, Francesco Caselli, Jagjit Chadha, Wouter den Haan, 07 June 2014
Vassilis Tselios, Andrés Rodríguez-Pose, Andy Pike, John Tomaney, Gianpiero Torrisi, 15 October 2011
Devolution can have incongruous effects on equality. Decentralisation of powers and resources to lower tiers of government can either increase or reduce interpersonal inequalities, depending on characteristics of the devolved region. This column uses data from regions of Western Europe to show that greater fiscal decentralisation is associated with lower income inequality.