Research Subject Area: Economics

REF impact found 558 Case Studies

Currently displayed text from case study:

Accurate statistical methods for detecting the source of human campylobacteriosis cases in New Zealand leads to an annual reduction of around 90,000 cases per year.

Summary of the impact

Research at Lancaster led to a novel approach to detect the source of cases of campylobacteriosis (a bacterial foodborne disease). The application of this method to data from New Zealand pin- pointed that New-Zealand's high rate of cases was linked to the eating of contaminated poultry. These results were a key part of the evidence used by New Zealand's Food Safety Authority to introduce a new code of practice for the poultry industry. The impact of this code of practice has been a halving of the number of reported cases of campylobacteriosis in New Zealand (from around 16,000 cases in 2006 to less than 7,000 in 2008). With notification rates estimated as 1 in 10, this corresponds to around 90,000 fewer actual cases per year. The saving for the New Zealand economy during the REF census period has been independently estimated as between £100M and £150M.

Submitting Institution

Lancaster University

Unit of Assessment

Mathematical Sciences

Summary Impact Type

Political

Research Subject Area(s)

Mathematical Sciences: Statistics
Economics: Applied Economics

Speech technology

Summary of the impact

Nearly every large-vocabulary speech recognition system in current use employs outputs from fundamental research carried out in the University of Cambridge Department of Engineering (DoEng) on adaptation of Hidden Markov Models (HMMs). One example of the commercial application of these outputs is their use on the Microsoft Windows desktop for both the command and control functions and the dictation functions. Approximately one billion copies of Windows have been shipped since 2008. Other examples show the outputs used in the automatic transcription of a wide range of types of data. [text removed for publication]

Submitting Institution

University of Cambridge

Unit of Assessment

General Engineering

Summary Impact Type

Technological

Research Subject Area(s)

Mathematical Sciences: Statistics
Economics: Applied Economics
Psychology and Cognitive Sciences: Cognitive Sciences

UOA10-02: Adjoint sensitivities in computational finance bring orders-of-magnitude runtime improvements

Summary of the impact

The largest investment banks in London each have thousands of servers largely devoted to Monte Carlo simulations, and to quantify their risks and satisfy regulatory demands they need to be able to calculate huge numbers of sensitivities (defined below) known collectively as "Greeks". An adjoint technique developed by Professor Mike Giles in 2006 greatly reduced the computational complexity of these calculations. The technique is used extensively by Credit Suisse and other major banks, reducing their computing costs and energy consumption. It has also led to the Numerical Algorithms Group developing new software to support the banks in exploiting this new adjoint approach to computing sensitivities.

Submitting Institution

University of Oxford

Unit of Assessment

Mathematical Sciences

Summary Impact Type

Economic

Research Subject Area(s)

Mathematical Sciences: Statistics
Economics: Econometrics
Commerce, Management, Tourism and Services: Banking, Finance and Investment

Advising on the design, development and implementation of the UK Office for Budgetary Responsibility

Summary of the impact

In 2010, the new Conservative government established the Office for Budgetary Responsibility (OBR) to provide independent and authoritative analysis of the UK's public finances. The economic case for an independent body to monitor fiscal policy was based on research by Professor Simon Wren-Lewis and his co-authors into fiscal policy rules and optimal debt policy. This research has provided important inputs to policymakers' thinking about fiscal councils, both in the UK and overseas. Work by Professor Wren-Lewis has strongly influenced and shaped the design and subsequent development of the UK's Office for Budgetary Responsibility.

Submitting Institution

University of Oxford

Unit of Assessment

Economics and Econometrics

Summary Impact Type

Economic

Research Subject Area(s)

Economics: Economic Theory, Applied Economics, Econometrics

A dynamic development route-map that enhances sustainable construction, improves project efficiencies, and reduces environmental impact in developing countries.

Summary of the impact

This case study presents a dynamic development framework route-map (the Precinct Planning Design Standard, PPDS) that enhances sustainability and the delivery of a development's goals, aims, and objectives for medium-large mixed-use precinct developments and tourist resorts in developing countries. The standard shortens pre-planning timescales, achieves greater certainty in actual performance delivery and reduces environmental impact for developers, developments, and their infrastructure.

Through Earthcheck Pty PPDS is now commercially available and has been used to benchmark and certify ecological performance improvements of 30 Asia Pacific projects (US$ 25 billion development value). These range from 8,000 person community projects to medium sized tourism resorts and island developments. Our research has challenged existing standards and consequently influenced practitioners to rethink and improve the efficacy of their development processes.

Submitting Institution

Anglia Ruskin University

Unit of Assessment

Architecture, Built Environment and Planning

Summary Impact Type

Societal

Research Subject Area(s)

Economics: Applied Economics
Studies In Human Society: Policy and Administration

Affecting private delivery of public services for households and businesses across the UK

Summary of the impact

Professor Paul Grout has had a significant impact on national policy on the delivery of public services by the private sector in the last five years. His research undertaken at the University of Bristol on private provision by regulated utility companies and public private partnerships, using both economic theory and empirical studies, paved the way for his central involvement in, and directly informed, key regulatory decisions. These decisions impact materially on almost every individual and organisation in the UK. His research also directly led to his appointment in 2012 to the Board of Ofgem (the Gas and Electricity Markets Authority), the UK energy regulator.

Submitting Institution

University of Bristol

Unit of Assessment

Economics and Econometrics

Summary Impact Type

Political

Research Subject Area(s)

Economics: Applied Economics
Commerce, Management, Tourism and Services: Banking, Finance and Investment
Studies In Human Society: Policy and Administration

CHE01 - Resources in the National Health Service (NHS)

Summary of the impact

York research has, continuously since the early 1990's, underpinned the methods by which a substantial proportion of the total NHS budget is allocated by the Department of Health to the organisations providing or arranging healthcare. Despite numerous NHS reforms, our research has produced formulae appropriate to each new system. These formulae have driven NHS policy on allocations across geographical areas and health care administrative entities in England, thereby ensuring that the population of approximately 55 million people receives a share of over £90 billion of healthcare resources that is fair and better reflects relative health care needs.

Submitting Institution

University of York

Unit of Assessment

Public Health, Health Services and Primary Care

Summary Impact Type

Economic

Research Subject Area(s)

Medical and Health Sciences: Public Health and Health Services
Economics: Applied Economics

A new measure for assessing the cost-effectiveness of health care interventions: the SF-6D

Summary of the impact

The decision about whether to fund new health care interventions is increasingly being informed by evidence of cost-effectiveness in terms of the cost per Quality Adjusted Life Years (QALY). The SF-6D health index is widely used internationally for calculating QALYs from patient reported health outcomes collected in clinical trials and other surveys. It contributes to health system efficiency from being used by health technology agencies around the world (including Australia, Canada, England, Scotland, Ireland and Norway) to calculate QALYs to facilitate decisions about the most efficient use of limited health care resources. The SF-6D is freely available to non-commercial bodies, including researchers and policy makers. Commercial benefits come from the licensing of the measure to pharmaceutical companies, health insurers and others to assess the cost-effectiveness of their products with 460 licenses being sold since 2008. A further 521 licenses are distributed on a non-commercial basis to academic researchers, public sector and charitable organisations.

Submitting Institution

University of Sheffield

Unit of Assessment

Public Health, Health Services and Primary Care

Summary Impact Type

Health

Research Subject Area(s)

Medical and Health Sciences: Public Health and Health Services
Economics: Applied Economics

A Numbers Game: Revamping Official Statistics on Migration and Population

Summary of the impact

In the UK and the rest of Europe, public bodies and policymakers have struggled to quantify migration and make accurate population forecasts because of inconsistent data from a variety of disparate sources. The University of Southampton has demonstrated how, via the use of statistical modelling, conceptual frameworks and migration modelling, policymakers can radically improve the information they glean from the data sources at their disposal. The team successfully guided the Office for National Statistics (ONS) in overhauling their methodologies, finally making them compliant with European Union (EU) regulations. The wider impact of accurate numbers is significant for public service provision, planning, and the UK economy. Furthermore, ONS data feeds into numerous areas of public policy, hence the provision of accurate estimates by Southampton researchers has significant reach and impact on such policies.

Submitting Institution

University of Southampton

Unit of Assessment

Social Work and Social Policy

Summary Impact Type

Societal

Research Subject Area(s)

Mathematical Sciences: Statistics
Medical and Health Sciences: Public Health and Health Services
Economics: Applied Economics

A Solution for Assessing Value for Money (V-F-M) During the Operational Stage of Long Term Public Private Partnerships

Summary of the impact

Research undertaken at Royal Holloway developed a theoretical Performance Audit (PA) model for evaluating the value for money (v-f-m) of the post-decision operational stage of Private Finance Initiatives (PFIs) and Public Private Partnerships (PPPs). Performance Audits (PAs) undertaken by national audit offices encountered difficulties in evaluating v-f-m, given their lifespan of 25 years or more. The model has impact in the UK and Australia, influencing national auditors in their development of PA of PPP/PFI, initially in the UK National Audit Office and directly during the REF 2014 period on the PAs in the Victorian Auditor General's Office (VAGO), Australia.

Submitting Institution

Royal Holloway, University of London

Unit of Assessment

Business and Management Studies

Summary Impact Type

Economic

Research Subject Area(s)

Economics: Applied Economics
Commerce, Management, Tourism and Services: Accounting, Auditing and Accountability
Studies In Human Society: Policy and Administration

Filter Impact Case Studies

Download Impact Case Studies