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City A.M.

DEBATE: Is the Economists for Free Trade £135bn figure realistic?

“NO – Thomas Sampson, assistant professor of economics at the London School of Economics.

Economists for Free Trade’s estimate is misleading nonsense. It is based on an economic model that bears no relation to the facts of the global economy and, consequently, is contradicted by the data on international trade. Most importantly, the Economists for Free Trade fail to take into account that trade costs are higher when the UK trades with more distant countries and that consumers care about where goods are made …”


Related Links:
City A.M. - DEBATE: Is the Economists for Free Trade £135bn figure realistic?

CEP Trade

Thomas Sampson webpage


News Posted: 22/08/2017      [Back to the Top]

Yahoo! Finance

Leading economists say £135bn hard Brexit boost claim 'defies gravity'

The LSE quartet – professors Thomas Sampson, Swati Dhingra, Gianmarco Ottaviano and John Van Reenen – do concede that there is, potentially, a very minor boost to going it alone.

Their own models suggest that should the UK leave the bloc and trade under WTO rules, maintaining import tariffs, income per person falls by 2.6%. Under the ‘Britain alone’ scenario of unilateral liberalisation after Brexit, UK real incomes still fall by 2.3%....


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Yahoo! Finance - Leading economists say £135bn hard Brexit boost claim 'defies gravity'

BREXIT 2016: Policy Analysis from the Centre for Economic Performance

CEP Growth

CEP Trade

Holger Breinlich webpage

Swati Dhingra webpage

Hanwei Huang webpage

Gianmarco Ottaviano webpage

Thomas Sampson webpage

John Van reenen webpage


News Posted: 21/08/2017      [Back to the Top]

HR Dive

Minimum-wage boosts only encourage more bots, researchers say

Two economists said they've found new evidence that minimum-wage hikes force employers to automate low-skilled workers' jobs, reports CNBC. According to David Neumark of UC Irvine and Grace Lordan of the London School of Economics, the low-skilled workers hit hardest by unemployment are young, old, black and female. The research defined low-skilled workers as those with a high school education or less.

Related publications

People Versus Machines: The Impact of Minimum Wages on Automatable Jobs

Published August 2017. Available on the NBER website


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HR Dive - Minimum-wage boosts only encourage more bots, researchers say

CEP Wellbeing

Grace Lordan webpage


News Posted: 21/08/2017      [Back to the Top]

FTChinese.com

How do technology companies contribute to alleviating inequality?

More importantly, most of the wealth control of US companies is not one of the few top industries, but a few top companies. 10% of the most profitable US companies are 8 times the average profit of the average company. In the nineties of last century, this value is only three times. Those companies that are financially profitable pay high salaries to their employees, but their competitors are not able to provide the same treatment. In fact, the research results at the Institute of Labor Economics, based in Bonn, show that the pay gap between individual workers has not been due to the company since the 1970s, The pay gap between companies. Another study of the Center for Economic Performance at the London School of Economics and Political Science (LSE) shows that the pay gap between top companies and other companies is the cause of most of the pay inequality in American society.

Related publications

'Measuring Economic Policy Uncertainty', Scott R. Baker, Nicholas Bloom, Steven J. Davis, The Quarterly Journal of Economics, Vol 131, Issue 4, November 2016


Related Links:
FTChinese.com - How do technology companies contribute to alleviating inequality?

Fluctuations in Uncertainty

Economic Recovery and Policy Uncertainty

Policy uncertainty: a new indicator

CEP Growth

Nick Bloom webpage

John Van reenen webpage


News Posted: 21/08/2017      [Back to the Top]