Editorial: 2026, Volume 5
This year’s Annual Undergraduate Research Journal in Economics at the University of Kent showcases the impressive breadth, originality and ambition of undergraduate research across empirical macroeconomics, microeconomics and finance. We are all extremely proud of our students’ achievements, with the selection of papers highlighting their diverse strengths, research interests and approaches to current economic questions. From monetary policy and its effects on the real economy in Japan to the determinants of housing prices in Manhattan, the research demonstrates the wide range and high quality of work undertaken by our students. the focus shifts to individual behaviour and labour markets. Research using the Understanding Society survey explores the factors influencing car use, including workplace parking, income and location. Another paper examines a labour economics question: the motherhood penalty, investigating how childbearing affects women's wages and wage growth in the UK. The journal remains an important tradition in Economics at Kent, providing a valuable opportunity to celebrate and showcase our students’ research achievements.
The journal also features exciting research in empirical finance. One study asks whether newspaper-based measures of uncertainty can improve forecasts of S&P 500 returns, providing a test of the Efficient Market Hypothesis. Other research explores how the rise of artificial intelligence and passive investing is changing U.S. equity markets, while another examines whether the value premium survives when broader measures of firm quality are considered.
What makes this collection particularly exciting is its variety. From housing markets and monetary policy to car use, gender differences in earnings, AI and asset pricing, the research demonstrates how economics can be applied to a remarkably wide range of real-world questions.
These papers also showcase the strong analytical and empirical skills of our undergraduate students. We hope this journal provides an opportunity to celebrate their work, stimulate discussion and inspire further research into the economic questions that shape our world.
Professor Alastair Bailey and Dr. Maria Kyriacou
Editors