Intergenerational equity has become a major policy issue: there is a widespread perception that the younger generations have been relatively disadvantaged by economic and demographic changes over the last 30 years and are now finding it harder to finance their education, enter well-paid employment, purchase their first house and save for retirement than their parents did. The principal aim of this proposal is to inform the current discussion of how generational well-being has changed over this period, and to assist policymakers in assessing the inter-generational effect of different policy initiatives going forward. We will achieve this by preparing Generational Wealth Accounts (GWA's), which generalise the system of National Transfer Accounts (NTA's), in order to investigate intergenerational transfers over the whole life course and not just within a chosen year. GWA's link annual NTA accounts by adjusting for expected births and deaths and including a lifetime resource constraint to measure expected public and private transfers to and from the unborn. GWA's can be regarded as an extension of Generational Accounting (GA), developed by Auerbach et al (1991), to include private transfers, human capital and market wealth in addition to public transfers. They thus present a comprehensive measure of generational resources, as well as the uses to which such resources are put. Sub-aims of the project are: 1. To calculate a set of NTA's for the UK going back to 1975. 2. To use these to build Generational Wealth Accounts (GWA) for the UK and the US over the same period 1975-2014. 3. To use GWA to look at key questions. Firstly, whether current consumption profiles by age are sustainable, and secondly, the relative economic advantage of the different cohorts in terms of lifetime resources. We will develop a set of indicators that summarise these findings. 4. To look at the impact of two economic events on generational resources and on generational risk sharing. Firstly, we will examine how the impact of the financial crisis was shared across the generations. In particular, we will focus on whether the greater proportional fall in labour income experienced by the younger generations was partly offset by greater transfers from older generations. Secondly, we will investigate whether there is any evidence that any part of the huge transfer in resources to older generations as a result of the capital appreciation of fixed property value has been distributed back down to the younger generations through private transfers. 5. To compare the trends we observe in generational transfers in the UK to those in the US, and attempt to link these to institutional differences between the two countries. 6. To compare current GWA of the UK to those constructed for European countries, using NTA results from European teams.

This study attempts to answer the following questions: 1. How do things like truancy, coming from a less affluent background, family breakdown and a range of other factors that pupils experience at school; lead to poor educational and labour market (employment and earnings) outcomes? 2. Do we see different impacts (for instance on the likelihood of securing good wages) when similar students attend different post-16 educational institutions, such as Further Education, Sixth Form College or School Sixth Form? Does it make any difference to a young person's prospects if they achieve the same level of qualification in these different institutions; and do we see children from rich and poor backgrounds making very different decisions from age 16 and above? 3. How accurately are we able to predict the employment and earnings outcomes for different students, using all the information on their background, learning and achievement in schools and colleges? At its heart the project seeks to analyse and assess the educational and labour market pathways followed by the half of young people who do not pursue university level education, and therefore contributes to the government's social mobility agenda; emphasised by David Cameron as a key priority for government in his Oct 2015 conference speech. The research proposed here will be of key interest to government and the Social Mobility Commission charged by the government to address Britain's poor record on social mobility. When we talk of social mobility, we are interested in the extent to which children born to poorer families can make the journey to high paid jobs and professional careers. More generally, a lack of social mobility is a situation where being born to poverty, riches or somewhere in between, means that you are likely to find yourself in the same position as your parents, no matter how hard you try and whatever your talents. Unfortunately, the evidence over recent decades has been that there is less social mobility in the UK than in other similar countries. The administrative data we will use to carry out this study is routinely collected by the parts of government that collect taxes (HMRC), deal with unemployment support (DWP), are responsible for Further Education (BIS) and learning in schools (DfE). This is a very important and useful resource, as it has the potential to overcome some of the limitations we face when using surveys (not least that we observe all people in the relevant populations, not just a relatively small sample). However, it is a complicated process to link these datasets and a large part of this project will be taken up with this process of linking. As well as finding out what impact truancy has on a young person's performance at school, up to the age of 15 when they get their GCSE results (and results from other equivalent qualifications); we will try to find out if this truancy continues to have an impact even when they leave school. Consider another example: we will shed new light on the extent to which disadvantaged young people, with a good set of educational choices facing them at age 15, are seen to make 'bad' choices; when compared to their more advantaged peers, facing the same choice sets. Similarly, the study will shed light on the choices made by young people from age 16+ who are from more advantaged backgrounds, who we see facing a more limited set of educational choices at 15; and how these differ to young people from disadvantaged backgrounds facing the same limited choices.

HealthMod is a large research programme that brings together scientists, policymakers, and charities interested in using economic policies to improve people's health. We particularly want to improve the health of people who experience disadvantage or discrimination in their lives, as they tend to spend much more of their lives in poor health and also die younger, and the situation has got worse over the past decade. Local and national governments make decisions on various economic policies, such as changes to taxes, welfare, job creation, and social housing. These policies have long-term effects on people's health, as they influence important aspects of healthy living, like having enough money, good work, decent housing, safe neighbourhoods, and supportive communities. In HealthMod, we want to help policymakers, charity organisations and communities themselves understand how these policies affect people differently, based on characteristics like gender, income, and where they live. Our research would show whether planned new policies are likely to support long and healthy lives for everyone, or whether they would make inequalities worse. Our programme has three work areas: Computer modelling for Health: We will develop computer models to show how different kinds of policies might affect the economic situation and long-term health of each person in Britain. These models help policymakers understand the impact of policies on people in their area, especially whether they narrow or widen unfair health inequalities, so they can make informed decisions. All models we develop will be freely available for researchers and policymakers to use. Policy and Advocacy Engagement: Government organisations and charities seeking to promote healthier policy decisions are partners in our programme. Together we will decide on the most urgent questions that our modelling can help answer. This will ensure that the models we build can inform real decisions. We will create websites, videos, and training courses to explain how our models work and how to use them effectively. Citizen's Engagement and Democratisation of Modelling: We believe it is vital to involve people who may be affected by economic policies. We will host workshops where individuals experiencing issues such as poverty or poor health can share their thoughts and experiences. These insights will shape our models, making them more relevant and inclusive. We will also work with a broader group of citizens to understand which policy outcomes are most important for society. Our goal is to create high-quality, trustworthy computer models that incorporate policymaker and community perspectives. This research will guide the best way to design, explain and use computer modelling for policy decisions that seek to improve health and reduce health inequalities.