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The economics of peer to peer lending

With the UK Financial Conduct Authority (FCA) commencing its post-implementation review of the crowdfunding market, including both peer-to-peer (P2P) lending and equity-based crowdfunding, the Peer-to-Peer Finance Association (P2PFA) asked Oxera to conduct an independent economic assessment of P2P lending.

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The contribution of asset management to the UK economy

Asset managers are responsible for managing assets for pensions, insurance and other long-term savings products. With over £5trn of assets under management in the UK, asset management makes up a large part of the capital markets. [1]  Asset managers also generate significant net exports for the UK, as some £2.2trn of these assets are managed for overseas investors. [2]

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Behavioural insights into Australian retail energy markets

The Australian Energy Market Commission (AEMC) commissioned Oxera to consider how behavioural insights can be applied to retail energy markets in Australia, and in particular the competitive market indicators tracked by the AEMC. To that extent, this report provides recommendations for how behavioural economics could be incorporated into the AEMC’s analysis, although the specific analysis would require additional primary research, which is beyond the scope of this report.

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Brexit: implications for state aid rules

As the UK steel industry continues to struggle, trade unions and other interested parties have called on the UK government to offer state support to the Port Talbot steelworks. This has not yet materialised, however, largely due to concerns over a potential breach of state aid rules. 

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Brexit: what do prediction markets tell us about its likelihood?

In the run-up to the EU referendum—and all significant political events—the results of opinion polls are closely followed by those seeking to track the likely direction of the vote. However, polls are far from being the only way to estimate the probability of an uncertain event; analysis of bookmakers’ odds suggest that there is currently a 23% chance 1 of the UK public voting to leave the EU, suggesting that Brexit is perceived as more likely than Scotland voting for independence was at a comparable moment in the campaign. How can such prediction markets be used to draw inference about how their participants expect these events to unfold.

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Brexit: implications for the GB electricity market

Despite the UK being part of the EU Single Market, trade in electricity between Great Britain and connected markets is significantly affected by differences in CO2 taxes, as well as in transmission and balancing charges. Brexit may give the UK the opportunity to adjust for this effect through import tariffs. If this happens, what would be the impact on the GB electricity market and trade in electricity? To answer this question, Oxera has estimated the likely changes using its electricity market dispatch model.

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