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News for Growth

Press coverage involving Growth staff or research is listed below.

Allmediascotland.com

Media Release: SCDI Forum – Exporting key to resilient growth during Brexit and second independence referendum

The SCDI Forum – ‘Brave New Worlds? Economic Growth & Wealth Creation’ – will today (Thursday 16 March) consider the challenges and changes facing our economy, with presentations and discussions on the new industrial strategy and inclusive growth, as well as the particularly pressing topic of how we raise our sights to grow the value of our exports.

The agenda for day two of the SCDI Forum 2017 on Friday 17 March includes: …

  • Richard Davies - Chief of staff at the LSE Growth Commission; and former chair of the Council of Economic Advisers at HM Treasury and economics dditor at The Economist will discuss the Commission’s major new report, ‘UK Growth, A New Chapter’, on a post-Brexit strategy for modern labour markets, industrial strategy, ‘openness’ to trade and talent, and business finance and growth.

Related publications

'UK Growth: A New Chapter', LSE Growth Commission Report, February 2017.


Related Links:
Allmediascotland.com - Media Release: SCDI Forum – Exporting key to resilient growth during Brexit and second independence referendum

CEP Growth

Richard Davies webpage


News Posted: 17/03/2017      [Back to the Top]

Business Insider (Italy)

Brexit, l'appello della London School of Economics: ''Immigrati fondamentali per l'economia''/Brexit, the appeal of the London School of Economics: ''Immigrants are fundamental to the economy''

Brexit constringerà the United Kingdom to rethink all its economic policies: from the labour market to industrial policy, from immigration to foreign trade. A commitment is certainly not trivial for the Government by Theresa May that still waits for the green light from Parliament to invoke article 50 of the European treaties setting in motion the process that will lead Britain out of the borders of the European Union within the next two years. "For Britain, it is the hardest undertaking by the defeat of Nazism in World War II" admits election campaign manager Dominic Cummings, in support of Brexit. Of course, the outcome of the referendum has undermined even analysts and researchers engaged in studies in support of government policies. As in the case of the London School of economics that in 2013 has created the first "growth commission" a kind of white paper of the economy: "Brexit", so nobody imagined the result pushed the London School has rilancare a second Board for growth, "says Novella Bottini, a consultant for the London Institute.

Related publications

'UK Growth: A New Chapter', LSE Growth Commission Report, February 2017.


Related Links:
Business Insider (Italy) - Brexit, l'appello della London School of Economics: ''Immigrati fondamentali per l'economia''/Brexit, the appeal of the London School of Economics: ''Immigrants are fundamental to the economy''

CEP Growth

CEP Trade

Philippe Aghion webpage

Tim Besley webpage

Stephen Machin webpage

Isabelle Roland webpage

Anna Valero webpage


News Posted: 12/03/2017      [Back to the Top]

The New York Times

‘Superstar firms' may have shrunk workers' share of income

From manufacturing to retailing, giant companies have managed to gobble up a larger and larger share of the market. While such concentration has resulted in enormous profits for investors and owners of behemoths like Facebook, Google and Amazon, this type of “winner take most” competition may not be so good for workers as a whole. Over the last 30 years, their share of the total income kitty has been eroding. And the industries where concentration is the greatest is where labor’s share has dropped the most, according to research that analyzed confidential financial data from hundreds of companies. Think about the retail sector, where mom-and-pop stores once crowded the landscape. Now it is dominated by a handful of giants like Walmart, Target and Costco. “They’re very sophisticated and efficient and they don’t use as much labor,” said Mr. Autor, who worked on the research with a team of economists that included David Dorn, Lawrence F. Katz, Christina Patterson and John Van Reenen.

See also

Pagina (Italy)

Chi più innova meno paga/Who pays most

http://www.pagina99.it/2017/03/07/innovazione-stipendi-profitti-imprese-mit-u-s-economic-census/


Related Links:
The New York Times - ‘Superstar firms' may have shrunk workers' share of income

CEP Growth

John Van reenen webpage


News Posted: 08/03/2017      [Back to the Top]

Jakarta Globe

Britain Seeks to Plug Skills Shortages Sapping Productivity

While skills shortages are a crucial element, they are not the only factor behind Britain's weak productivity, said London School of Economics researcher Anna Valero. Low business investment, a lack of focus on exports, limited public spending on infrastructure, and greater difficulty commercializing scientific research than in the United States, have all played a part, she added. Another difference is that Britain's easy-hire, easy-fire jobs market and low labor costs for many roles have made it viable to rely on low-skilled workers – boosting employment levels compared with other countries but discouraging investment in less labor-intensive working methods. This may be starting to change, with Britain's minimum wage now rising more steeply, in addition to new pension charges and the incoming apprenticeship levy for many employers.

 

Related publications

‘UK Growth: A New Chapter’, LSE Growth Commission Report, February 2017

http://www.lse.ac.uk/researchAndExpertise/units/growthCommission/documents/pdf/2017LSEGCReport.pdf


Related Links:
Jakarta Globe - Britain Seeks to Plug Skills Shortages Sapping Productivity

CEP Growth

Anna Valero webpage


News Posted: 08/03/2017      [Back to the Top]

Reuters

RPT-Britain seeks to plug skills shortages sapping productivity

While skills shortages are a crucial element, they are not the only factor behind Britain's weak productivity, said London School of Economics researcher Anna Valero. Low business investment, a lack of focus on exports, limited public spending on infrastructure, and greater difficulty commercialising scientific research than in the United States, have all played a part, she added.

 

Related publications

‘UK Growth: A New Chapter’, LSE Growth Commission Report, February 2017

http://www.lse.ac.uk/researchAndExpertise/units/growthCommission/documents/pdf/2017LSEGCReport.pdf

 


Related Links:
Reuters - RPT-Britain seeks to plug skills shortages sapping productivity

CEP Growth

Anna Valero webpage


News Posted: 07/03/2017      [Back to the Top]

The Wall Street Journal

Three ways to value gold. Three conclusions

Then three economics and finance professors—Scott Baker of Northwestern University, Nick Bloom of Stanford University and Steven Davis of the University of Chicago—created a series of Economic Policy Uncertainty, or EPU, indexes. And sure enough, according to Prof. Harvey, gold shows a modest historical correlation with the global version of the EPU.

 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

http://bit.ly/2n6M3oa


Related Links:
The Wall Street Journal - Three ways to value gold. Three conclusions

Measuring Economic Policy Uncertainty

CEP Growth

Nick Bloom webpage


News Posted: 05/03/2017      [Back to the Top]

The Telegraph

How a rise in Britons being their own boss risks a borrowing crisis

Getting the balance right

A recent report by the LSE Growth Commission also warned that a world where everyone is their own boss could lead to less training, with consequences for UK living standards. 

"In the longer term, the gig economy may erode employers' incentives to invest in their workers' skills," it said.

"It is unlikely that short-term workers will receive extensive on-the-job training, and thus in the long run this may have an impact on the make-up of the skill set of the UK workforce."

Related publications

'UK Growth: A New Chapter', LSE Growth Commission Report, February 2017.


Related Links:
The Telegraph - How a rise in Britons being their own boss risks a borrowing crisis

CEP Growth

CEP Trade

Philippe Aghion webpage

Tim Besley webpage

Stephen Machin webpage

Isabelle Roland webpage

Anna Valero webpage


News Posted: 05/03/2017      [Back to the Top]

LSE Business Review

LSE Growth Commission: invest more in people, not only buildings and machines

The LSE Growth Commission sets out a new blueprint for inclusive and sustainable growth that deals with the challenges facing the UK, old and new. Based on the latest research, analysis and evidence from leading practitioners and scholars, the Commission – drawn from leading business, policy-making and academic figures – outlines the top priorities in four key areas: jobs and skills; industrial strategy; openness and finance and growth.

Related publications

'UK Growth: A New Chapter', LSE Growth Commission Report, February 2017.


Related Links:
LSE Business Review - LSE Growth Commission: invest more in people, not only buildings and machines

CEP Growth

CEP Trade

Philippe Aghion webpage

Tim Besley webpage

Stephen Machin webpage

Isabelle Roland webpage

Anna Valero webpage


News Posted: 03/03/2017      [Back to the Top]

Independent

Hard Brexit will ‘open Pandora's box' for UK businesses says CBI president

Economists from the London School of Economics have estimated that the WTO route would cause an almost 10 per cent hit to UK GDP by 2030.

Also in:

The i Paper

Failure to secure trade deal 'would open Pandora's Box'

(no link available)


Related Links:
Independent - Hard Brexit will ‘open Pandora's box' for UK businesses says CBI president

The consequences of Brexit for UK trade and living standards

CEP Trade

CEP Growth

Swati Dhingra webpage

Hanwei Huang webpage

Gianmarco Ottaviano webpage

Thomas Sampson webpage

John Van reenen webpage


News Posted: 02/03/2017      [Back to the Top]

LSE Staff News

New report from LSE Growth Commission

Last Friday, the LSE Growth Commission released a new report setting out a blueprint for inclusive and sustainable growth in the UK, which deals with both old and new challenges.

Related publications

'UK Growth: A New Chapter', LSE Growth Commission Report, February 2017.


Related Links:
LSE Staff News - New report from LSE Growth Commission

CEP Growth

CEP Trade

Philippe Aghion webpage

Tim Besley webpage

Stephen Machin webpage

Isabelle Roland webpage

Anna Valero webpage


News Posted: 02/03/2017      [Back to the Top]

The Daily Telegraph

Britain is damning itself to a low wage, low productivity economy

As the London School of Economics’ “Growth Commission” noted in a recent update on the UK economy, growing self-employment is eroding the incentives for companies to invest in training and skills. I don’t want to demonise the so-called “gig economy”, which for many of those who work in it is a positive and liberating choice. It has also greatly contributed to Britain’s superior employment performance

Related publications

'UK Growth: A New Chapter', LSE Growth Commission Report, February 2017.


Related Links:
The Daily Telegraph - Britain is damning itself to a low wage, low productivity economy

CEP Growth

CEP Trade

Philippe Aghion webpage

Tim Besley webpage

Stephen Machin webpage

Isabelle Roland webpage

Anna Valero webpage


News Posted: 01/03/2017      [Back to the Top]

Indiana University Bloomington

IU College of Arts and Sciences announces 2017 alumni and faculty honorees

The recipient of this year’s Outstanding Young Alumni Award is Rebecca Homkes (B.A./B.S. ’05) of London. Homkes is a teaching fellow/adjunct professor in the London Business School, the director of the London-based Ashridge Strategic Management Centre, co-founder of Next Wave Innovation, and the founder and director of 21st Century Strategy, a boutique consultancy firm.

Rebecca Homkes is the director of 21st Century Strategy, a boutique consultancy firm, where she works with CEOs and executive teams of top global companies and fast-growing enterprises on developing and executing strategies for growth, especially when facing extreme uncertainty. Homkes is also a teaching fellow at the London Business School’s Department of Strategy and Entrepreneurship.

A fellow at the London School of Economics’ Centre for Economic Performance and a director at the Ashridge Strategic Management Centre, Homkes is also a co-founder of corporate innovation consultancy Next Wave Innovation and a board member and mentor at GrowthX and the Silicon Valley Growth Syndicate. A 2005 graduate of IU, Homkes earned her Bachelor of Arts degree in political science and her Bachelor of Science degree in business administration with majors in finance, accounting and international studies. A Marshall Scholar, Homkes earned her Ph.D. and M.Sc. in international economy from the London School of Economics and was an Indiana University Herman B Wells Scholar in 2005.

Related links

CEP Alumni - Rebecca Homkes : http://cep.lse.ac.uk/_new/staff/alumni.asp

Rebecca Homkes CEP publications webpage:  http://cep.lse.ac.uk/_new/publications/author.asp?author=homkes


Related Links:
Indiana University Bloomington - IU College of Arts and Sciences announces 2017 alumni and faculty honorees

CEP Growth


News Posted: 28/02/2017      [Back to the Top]

The Irish Times

Theresa May's Nasty Party dons UKIP's Brexit clothes at a heavy price

Immigration has now been extensively studied: there is lots of excellent data that reveals robust conclusions over many different pieces of research. According to, for example, the London School of Economics Centre for Economic Performance, EU immigrants are more likely to be in work and less likely to claim benefits than their UK-born counterparts.


Related Links:
The Irish Times - Theresa May's Nasty Party dons UKIP's Brexit clothes at a heavy price

Brexit and the Impact of Immigration on the UK

CEP Trade

CEP Labour Markets

CEP Growth

Jonathan Wadsworth webpage

Swati Dhingra webpage

Gianmarco Ottaviano webpage

John Van reenen webpage


News Posted: 27/02/2017      [Back to the Top]

The Sunday Times

Our nation of shoppers needs a new growth model

…"more coherent and comprehensive than anything the government has yet come up with" Article on the LSE Growth Commission Report.

Related publications

'UK Growth: A New Chapter', LSE Growth Commission Report, February 2017.


Related Links:
The Sunday Times - Our nation of shoppers needs a new growth model

CEP Growth

CEP Trade

Philippe Aghion webpage

Tim Besley webpage

Stephen Machin webpage

Isabelle Roland webpage

Anna Valero webpage


News Posted: 26/02/2017      [Back to the Top]

BBC III – video

What would the UK look like without immigrants?

On #OneDayWithoutUs people are encouraged to show how much immigrants contribute to the country.

So how much of a difference do immigrants make to the UK economy?

At1:12 mins CEP (LSE) research flashes up.

Related links

Jonathan Wadsworth webpage:  http://cep.lse.ac.uk/_new/staff/person.asp?id=787

Swati Dhingra webpage:  http://cep.lse.ac.uk/_new/staff/person.asp?id=7558

Gianmarco Ottaviano webpage:  http://cep.lse.ac.uk/_new/staff/person.asp?id=7598

John Van Reenen webpage:  http://cep.lse.ac.uk/_new/staff/person.asp?id=1358

CEP Growth Programme webpage:  http://cep.lse.ac.uk/_new/research/growth/default.asp

CEP Trade Programme webpage:  http://cep.lse.ac.uk/_new/research/trade/default.asp


Related Links:
BBC III – video - What would the UK look like without immigrants?

Brexit and the Impact of Immigration on the UK

CEP Labour Markets

CEP Growth

CEP Trade

Philippe Aghion webpage

Tim Besley webpage

Stephen Machin webpage

Isabelle Roland webpage

Anna Valero webpage


News Posted: 24/02/2017      [Back to the Top]

Bloomberg

Brexit Bulletin: Team May hits back

Brexit is expected to spell the end of passporting, where firms seamlessly service the rest of the single market from their London hubs. That could herald a loss of more than 25 percent of the U.K.’s total financial services trade, a London School of Economics study said on Thursday. 

Related publications

'UK Growth: A New Chapter', LSE Growth Commission Report, February 2017.


Related Links:
Bloomberg - Brexit Bulletin: Team May hits back

CEP Growth

CEP Trade

Stephen Machin webpage

Anna Valero webpage

Philippe Aghion webpage

Tim Besley webpage

Isabelle Roland webpage


News Posted: 24/02/2017      [Back to the Top]

Bloomberg News

UK banks' loss of EU passport a ‘major threat', LSE study says

The U.K. government must ensure British financial-services companies don’t lose their ease of access to the European Union after Brexit as a “matter of urgency,” according to a report backed by high-profile British economists including former Bank of England Deputy Governor Charlie Bean. The study, compiled by the London School of Economics with input from business leaders, ex-policy makers and academics, says the U.K. needs to retain near-equivalent European Union passporting rights and warned that alternatives are “costly and time-consuming.”  It sets out a list of recommendations for Prime Minister Theresa May’s administration to bolster growth, including prioritizing free-trade deals with the U.S. and EU. It also encourages the government to boost skills, develop an industrial strategy, and increase competition in finance.

https://www.bloomberg.com/news/articles/2017-02-23/u-k-banks-loss-of-eu-passport-a-major-threat-lse-study-says

 

Related publications

'UK Growth: A New Chapter', LSE Growth Commission Report, February 2017.


Related Links:
Bloomberg News - UK banks' loss of EU passport a ‘major threat', LSE study says

CEP Growth

CEP Trade

Philippe Aghion webpage

Tim Besley webpage

Stephen Machin webpage

Isabelle Roland webpage

Anna Valero webpage


News Posted: 23/02/2017      [Back to the Top]

Channel 4

FactCheckQandA: Why isn't immigration falling more quickly?

Why has net migration continued to rise and successive government’s failed to hit their targets?

According to the Centre for Economic Performance (CEP), the majority of those who come from the EU, do so for work related reasons, whilst the majority of those who come from non-EU countries do so for study-related reasons. Both positively contribute to the UK economy with the CEP suggesting both groups have had no negative effect on jobs or wages. This is one of the main reasons the government has found it difficult to reduce immigration.

Related publications

'UK Growth: A New Chapter', LSE Growth Commission Report, February 2017.

Related Links:

 

Jonathan Wadsworth webpage:  http://cep.lse.ac.uk/_new/staff/person.asp?id=787

Swati Dhingra webpage:  http://cep.lse.ac.uk/_new/staff/person.asp?id=7558

Gianmarco Ottaviano webpage:  http://cep.lse.ac.uk/_new/staff/person.asp?id=7598

John Van Reenen webpage:  http://cep.lse.ac.uk/_new/staff/person.asp?id=1358

 

 


Related Links:
Channel 4 - FactCheckQandA: Why isn't immigration falling more quickly?

Brexit and the Impact of Immigration on the UK

CEP Growth

CEP Trade

CEP Labour Markets

Philippe Aghion webpage

Tim Besley webpage

Stephen Machin webpage

Isabelle Roland webpage

Anna Valero webpage


News Posted: 23/02/2017      [Back to the Top]

Public Finance

LSE growth commission sets out economic reform proposals

Britain’s tax laws are biased in favour of the self-employed and should be reformed to enable greater investment in people instead of buildings and machines, the LSE Growth Commission has said. This was one of the findings of a report released by the commission today on how the UK can achieve inclusive and sustainable growth after Brexit. In the study, authors identify four key priority areas: jobs and skills, industrial strategy, economic openness, and finance and growth. The commission consists of senior figures from business, politics and academia and was formed in 2013 to provide authoritative and evidence-based policy recommendations. UK Growth: A New Chapter was based on the input of senior policymakers, business people and academics, including two former chancellors, George Osborne and Alastair Darling.

Related publications

'UK Growth: A New Chapter', LSE Growth Commission Report, February 2017.


Related Links:
Public Finance - LSE growth commission sets out economic reform proposals

CEP Growth

CEP Trade

Philippe Aghion webpage

Tim Besley webpage

Stephen Machin webpage

Isabelle Roland webpage

Anna Valero webpage


News Posted: 23/02/2017      [Back to the Top]

Bloomberg News

UK banks' loss of EU passport a ‘major threat', LSE study says

The U.K. government must ensure British financial-services companies don’t lose their ease of access to the European Union after Brexit as a “matter of urgency,” according to a report backed by high-profile British economists including former Bank of England Deputy Governor Charlie Bean. The study, compiled by the London School of Economics with input from business leaders, ex-policy makers and academics, says the U.K. needs to retain near-equivalent European Union passporting rights and warned that alternatives are “costly and time-consuming.”  It sets out a list of recommendations for Prime Minister Theresa May’s administration to bolster growth, including prioritizing free-trade deals with the U.S. and EU. It also encourages the government to boost skills, develop an industrial strategy, and increase competition in finance.

Related publications

'UK Growth: A New Chapter', LSE Growth Commission Report, February 2017

 


Related Links:
Bloomberg News - UK banks' loss of EU passport a ‘major threat', LSE study says

CEP Growth

CEP Trade

Anna Valero webpage

Philippe Aghion webpage

Stephen Machin webpage

Richard Davies webpage

Isabelle Roland webpage

Tim Besley webpage


News Posted: 23/02/2017      [Back to the Top]

Bloomberg News online

Brexit Bulletin: What Can By-Elections Tell Us About Brexit?

Snippet: ... Due today: latest migration figures from the ONS, and a report on the economy from the LSE Growth Commission.


Related Links:
Bloomberg News online - Brexit Bulletin: What Can By-Elections Tell Us About Brexit?

CEP Growth

CEP Trade

Anna Valero webpage

Richard Davies webpage

Isabelle Roland webpage

Stephen Machin webpage

Philippe Aghion webpage

Tim Besley webpage


News Posted: 23/02/2017      [Back to the Top]

Australian Economic Review

Observations on Uncertainty (pages 79–84)

© The University of Melbourne, Melbourne Institute of Applied Economic and Social Research

Volume 50, Issue 1 Pages 1 - 132, March 2017

Observations on Uncertainty (pages 79–84)

Nicholas Bloom

Version of Record online: 28 FEB 2017 | DOI: 10.1111/1467-8462.12203

Related links

Nick Bloom CEP publications webpage:  http://cep.lse.ac.uk/_new/publications/author.asp?author=bloom


Related Links:
Australian Economic Review - Observations on Uncertainty (pages 79–84)

CEP Growth

Nick Bloom webpage


News Posted: 21/02/2017      [Back to the Top]

House of Lords Hansard – www.parliament.uk

LSE research mentioned in Lords debate on the Article 50 Bill

During Lords debate on the Article 50 Bill, Lord McKenzie of Luton (Lab) mentioned LSE/CEP research:

 

"One of the most profound choices that the Government are seeking to make is to eschew membership of the single market and the customs union. They are prepared to sacrifice these at the altar of reducing immigration, notwithstanding research, most recently from the Centre for Economic Performance at the LSE, again showing the benefits to national income, taxes and the budget ​deficit from immigration, and notwithstanding a report from the think tank Global Future that suggests that the Government’s approach could mean a fall in current net levels of immigration of no more than 15%, and that might be reduced further by the terms of new free trade agreements, which typically come with a demand for liberalisation on free movement."

 

Related publications

'UK Growth: A New Chapter', LSE Growth Commission Report, February 2017.

Related links

Jonathan Wadsworth webpage:  http://cep.lse.ac.uk/_new/staff/person.asp?id=787

Swati Dhingra webpage:  http://cep.lse.ac.uk/_new/staff/person.asp?id=7558

Gianmarco Ottaviano webpage:  http://cep.lse.ac.uk/_new/staff/person.asp?id=7598

John Van Reenen webpage:  http://cep.lse.ac.uk/_new/staff/person.asp?id=1358


Related Links:
House of Lords Hansard – www.parliament.uk - LSE research mentioned in Lords debate on the Article 50 Bill

Brexit and the Impact of Immigration on the UK

CEP Growth

CEP Trade

CEP Labour Markets

Philippe Aghion webpage

Tim Besley webpage

Stephen Machin webpage

Isabelle Roland webpage

Anna Valero webpage


News Posted: 21/02/2017      [Back to the Top]

Dien dan (Vietnam)

The index of real economic policy of China in record level 672.82 points

Index of uncertainty in the economic policy of China and Hong Kong (China-Hong Kong Economic Policy Uncertainty Index-CHEPUI) are at record levels 672.82 points after soaring up fivefold higher than the average rate in 22 years.  This index tracks the frequency of mention of economic uncertainties related to the policy of South China Morning Post (SCMP), the most prestigious English newspaper of Hong Kong. It is part of the tracking system developed by Scott Baker in Northwestern University, Nick Bloom of Stanford University and Steven Davis from the University of Chicago.

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

http://bit.ly/2m481r4

 


Related Links:
Dien dan (Vietnam) - The index of real economic policy of China in record level 672.82 points

Measuring Economic Policy Uncertainty

CEP Growth

Nick Bloom webpage


News Posted: 20/02/2017      [Back to the Top]

Bloomberg

China economic policy has never been more uncertain. Sort of.

Economic policy is always challenging to decipher in China, where Communist Party leaders steer one of the world's most opaque central banks. Indeed, one measure of uncertainty has never been higher amid complications from Hong Kong's politics to Donald Trump's protectionism. The China-Hong Kong Economic Policy Uncertainty Index stands at a record 672.82 after soaring to more than five times its average in data stretching back 22 years. The gauge tracks mentions of policy-related economic uncertainty in Hong Kong's main English-language newspaper, the South China Morning Post. It's part of a suite of trackers developed by Northwestern University’s Scott Baker, Stanford University’s Nick Bloom and Steven Davis from the University of Chicago.

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 http://bit.ly/2m481r4


Related Links:
Bloomberg - China economic policy has never been more uncertain. Sort of.

Measuring Economic Policy Uncertainty

CEP Growth

Nick Bloom webpage


News Posted: 20/02/2017      [Back to the Top]

Bloomberg

Monopolies are worse than we thought

A recent paper by David Autor, David Dorn, Lawrence Katz, Christina Patterson and John Van Reenen speculates that tech might have enabled the rise of a few “superstar” companies in each industry. The fact that leaders in more concentrated industries also tend to have higher productivity supports this hypothesis. Technology might have simply changed the nature of markets so that the winners take most of the profits.

 


Related Links:
Bloomberg - Monopolies are worse than we thought

CEP Growth

John Van reenen webpage


News Posted: 15/02/2017      [Back to the Top]

Huffington Post Deutschland

US-Top-and#336;konom erwartet unter Trump ''wirtschaftliche Blüte ungekannten Ausmaßes''/US top economist expected to trump ''economic boom of unprecedented proportions

Von anderen Star-Ökonomen waren eher pessimistische Stimmen zur Wirtschaftsentwicklung unter Trump zu hören. So sagt Stanford-Ökonom Nicholas Bloom, ...

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

http://bit.ly/2m481r4


Related Links:
Huffington Post Deutschland - US-Top-and#336;konom erwartet unter Trump ''wirtschaftliche Blüte ungekannten Ausmaßes''/US top economist expected to trump ''economic boom of unprecedented proportions

Measuring Economic Policy Uncertainty

CEP Growth

Nick Bloom webpage


News Posted: 14/02/2017      [Back to the Top]

Blasting News

Brexit could swiftly become a steep exit

The economic cost of Britain's exit from Europe could be quadruple original estimates according to MIT Economist, Professor John Van Reenen.

Given all of the political flailing of arms and rhetorical sniping that has been going on, this has prevented many from seeing the bigger economic picture in terms of Brexit. The anticipated costs of Brexit seem to be increasing as more is known about Britain's plans and intentions on that score - four times the original estimate.

#professor john van Reenen made these assertions from research he had been taking out over the last few years in a separate report.


Related Links:
Blasting News - Brexit could swiftly become a steep exit

BREXIT 2016: Policy Analysis from the Centre for Economic Performance

CEP Growth

John Van reenen webpage


News Posted: 10/02/2017      [Back to the Top]

Independent

Brexit four times worse for UK economy than previously believed, say MIT economists

New research claims leaving the EU will have bigger impact on UK productivity than had been thought

Britain’s departure from the European Union could cause output losses of as much as 9.5 per cent, according to new research. Calculations using models that incorporate productivity measures show a negative impact on gross domestic product per capita of almost four times that of previous estimates, according to John Van Reenen, a professor of applied economics at the MIT Sloan School of Management who supported the campaign for the UK to remain in the EU.


Related Links:
Independent - Brexit four times worse for UK economy than previously believed, say MIT economists

Brexit: the final assessment

CEP Growth

John Van reenen webpage


News Posted: 09/02/2017      [Back to the Top]

CNBC

Brexit will leave Britons more than $4,000 poorer, says MIT professor

Britons' incomes could be slashed by as much as 9.5 percent once the U.K. formally leaves the European Union, a new study released today by MIT economics professor John Van Reenen has claimed.

The report points to a 6.3 to 9.5 percent reduction in GDP per capita with the U.K. outside of the EU's single market on the basis that a one percent decline in trade reduces income per capita by between 0.5 and 0.75 percent.


Related Links:
CNBC - Brexit will leave Britons more than $4,000 poorer, says MIT professor

BREXIT 2016: Policy Analysis from the Centre for Economic Performance

CEP Growth

John Van reenen webpage


News Posted: 08/02/2017      [Back to the Top]

Finansgundem.com (Turkey)

Brexit, national income per capita in the UK to drop

Brexit, national income per capita in the UK to drop

On June 23, a referendum MIT faculty member, Professor John Van Reenen advocated keeping Britain in the EU.


Related Links:
Finansgundem.com (Turkey) - Brexit, national income per capita in the UK to drop

BREXIT 2016: Policy Analysis from the Centre for Economic Performance

CEP Growth

John Van reenen webpage


News Posted: 08/02/2017      [Back to the Top]

Delo (Slovenia)

Trump(izem) - return to the future

Nicholas Bloom (Stanford University) explores the political uncertainty in the world, and from 1900 on, he found out that after his election Trump increased uncertainty by at least twice and is comparable to that during the great economic crisis, the end of the twenties of the last century.


Related Links:
Delo (Slovenia) - Trump(izem) - return to the future

Measuring Economic Policy Uncertainty

Economic Recovery and Policy Uncertainty

The Impact of Uncertainty Shocks: Firm Level Estimation and a 9/11 Simulation

CEP Growth

Nick Bloom webpage


News Posted: 31/01/2017      [Back to the Top]

Cash (Germany)

Verunsicherte medien, zuversichtliche unternehmen – wer behalt recht?

A study of three researchers Scott R. Baker, Nicholas Bloom and Steven j. Davis has revealed that the current economic uncertainty is still higher than during times of 9 / 11 or the Lehman collapse. The experts at Swiss life asset managers analyze the situation.

Have, the Brexit and the US insecure you elections? Then, you're not alone. Researchers Scott R. Baker, Nicholas Bloom and Steven j. Davis attempting to measure the economic insecurity and to depict in an index. It is collected for 12 countries, captured how often words with reference to uncertainty and instability in the media. Currently, index is higher than to times of crisis like 9/11, the Lehman collapse, or Europe's debt crisis the "economic policy uncertainty".


Related Links:
Cash (Germany) - Verunsicherte medien, zuversichtliche unternehmen – wer behalt recht?

Measuring Economic Policy Uncertainty

Economic Recovery and Policy Uncertainty

The Impact of Uncertainty Shocks: Firm Level Estimation and a 9/11 Simulation

CEP Growth

Nick Bloom webpage


News Posted: 31/01/2017      [Back to the Top]

NZZ.at (Germany)

Ignorant and irresponsible

Not surprisingly, when an index for global political uncertainty, compiled records so unsafe level, inter alia by the Stanford economist Nicholas Bloom, on a high, (Stanford). And Austria's foreign trade must prepare for uncertain times (the press).


Related Links:
NZZ.at (Germany) - Ignorant and irresponsible

Measuring Economic Policy Uncertainty

Economic Recovery and Policy Uncertainty

CEP Growth

Nick Bloom webpage


News Posted: 27/01/2017      [Back to the Top]

Bloomberg Quint

Blame monopolies for short-changing U.S. workers

There are several worrying trends in the global economy, such as rising inequality within countries and slowing productivity growth. But perhaps the most troubling of them is the fall in labor’s share of national income. … Two new papers suggest that the rise might be due to an increase in market concentration. If industries are slowly inching toward monopoly, a few superstar companies in each sector could be squeezing profits out of the rest of the economy. The first of these new papers is by a large, star-studded team from the U.S. and Europe -- David Autor, David Dorn, Lawrence Katz, Christina Patterson and John Van Reenen. Titled “Concentrating on the Fall of the Labor Share,” it is short, clear and relies on relatively simple theories and general observations.

 

Related publications

Autor D, Dorn D, Katz LF, Patterson C, Reenen JV. Concentrating on the Fall of the Labor Share. American Economic Review Papers and Proceedings. Forthcoming;107 (5).

 


Related Links:
Bloomberg Quint - Blame monopolies for short-changing U.S. workers

CEP Growth

John Van reenen webpage


News Posted: 27/01/2017      [Back to the Top]

Bloomberg Businessweek

Trump's uncertainty principle

The cloud of uncertainty Trump has kicked up may be a big deal for the economy, or not. … For one thing, uncertainty isn’t necessarily bad. It simply means the distribution of possible outcomes—both upward and downward—has widened. Investors in the stock market seem to be betting on the upside of the distribution, judging from the 6.5 percent rise in the S&P 500 since the election. It’s also possible that what looks like economic uncertainty is really just scary reports in the news media. Stanford economist Nicholas Bloom, an originator of the Economic Policy Uncertainty Index, joked (I think) in an e-mail, “It may simply be the news has no connection to reality—as you know from Trump, you guys are the biggest liars.”


Related Links:
Bloomberg Businessweek - Trump's uncertainty principle

Measuring Economic Policy Uncertainty

Economic Recovery and Policy Uncertainty

CEP Growth

Nick Bloom webpage


News Posted: 26/01/2017      [Back to the Top]

New Statesman

If you want to fix Britain's economy, there's one word you need to remember

And it isn't "infrastructure"

Improving our management skills is part of this. John van Reenen at the London School of Economics has written about how the quality of management in different countries can explain as much as a third of their differences in productivity.


Related Links:
New Statesman - If you want to fix Britain's economy, there's one word you need to remember

CEP Growth

John Van reenen webpage


News Posted: 25/01/2017      [Back to the Top]

Wall Street Journal Americas (Spanish)

Hechos alternativos para Trump y el Mercado de acciones

"It genuinely feels that the political uncertainty is very high," said Nicholas Bloom, Professor of Stanford and co-developer of the index of uncertainty.


Related Links:
Wall Street Journal Americas (Spanish) - Hechos alternativos para Trump y el Mercado de acciones

Measuring Economic Policy Uncertainty

Economic Recovery and Policy Uncertainty

CEP Growth

Nick Bloom webpage


News Posted: 24/01/2017      [Back to the Top]

The Daily Star

Britain 'faces imminent GENERAL ELECTION' after Brexit blocked in bombshell ruling

Speaking to Daily Star Online, John Van Reenen, Professor of Economics at LSE, said Mrs May might be tempted to strengthen her hand in parliament. He said an election could boost her authority in both Houses, giving her a strong mandate to push through a “hard Brexit” agenda. But he added that she may “just stick to the current course” because she is “cautious by nature”.


Related Links:
The Daily Star - Britain 'faces imminent GENERAL ELECTION' after Brexit blocked in bombshell ruling

CEP Growth

John Van reenen webpage


News Posted: 24/01/2017      [Back to the Top]

BBC Radio 4

13:24

Snippet: ...Mention of  LSE research on productivity in UK compared to productivity in France and Germany
... that LSE researchers suggest that by Thursday lunchtime the other countries have produced as much as it takes us to produce by Friday afternoon ...

 

Related article

BBC News - 21 May 2015

Why the productivity gap?

Professor John Van Reenen, head of the Centre for Economic Performance at the LSE, makes the point rather graphically: "By Thursday lunchtime the other countries have produced as much as it takes us to produce by Friday afternoon when we knock off work. "So basically we could take every Friday off if we could be as productive as those other countries and earn the same amount of money."

 

 


Related Links:
BBC Radio 4 - 13:24

CEP Growth

John Van reenen webpage


News Posted: 23/01/2017      [Back to the Top]

El Pais

Opinion: Microempresa y productividad: lecciones francesas

El predominio de las firmas de menos de 10 empeados es in obstaculo para la productividad e internacionalizacion

Article by Luis Garicano, Claire LeLarge and John Van Reenen

The prevalence of firms of less than 10 employees is a barrier to the internationalization.

In contrast to the more advanced economies, almost one in every two Spanish workers is employed in a micro-enterprise of less than ten people. In Germany, for example, this proportion is reduced to one of five workers. There is no doubt that this predominance of microenterprise in Spain is an obstacle to productivity and the internationalization of Spanish companies: invest in international trade or Automation is practically impossible for a firm of such small size.


Related Links:
El Pais - Opinion: Microempresa y productividad: lecciones francesas

CEP Growth

Luis Garicano webpage

John Van reenen webpage


News Posted: 22/01/2017      [Back to the Top]

The Canary

At PMQs, the 'Irony Lady' revealed exactly what she's been hiding from the British public

May’s speech suggests the UK is on course to aim for a bilateral agreement. Currently, countries like Switzerland pay around 40% as much as the UK’s contribution for EU membership for access on those terms, according to the Centre for Economic Performance (CEP). And that does not include free trade in services.


Related Links:
The Canary - At PMQs, the 'Irony Lady' revealed exactly what she's been hiding from the British public

BREXIT 2016: Policy Analysis from the Centre for Economic Performance

Life after Brexit : What are the UK’s options outside the European Union?

CEP Growth

CEP Trade

CEP Labour Markets

Holger Breinlich webpage

Swati Dhingra webpage

Hanwei Huang webpage

Saul Estrin webpage

Gianmarco Ottaviano webpage

Thomas Sampson webpage

John Van reenen webpage

Jonathan Wadsworth webpage


News Posted: 18/01/2017      [Back to the Top]

Investors Chronicle

More profit warnings

Investors should brace themselves for more profit warnings in 2017.

This isn't simply because economic growth will slow this year: economists expect an expansion of only 1.2 per cent this year after 2 per cent growth last. Nor is it just because there's danger of a squeeze upon the profit margins of firms that don't export much. It's also because economic slowdowns affect the distribution of growth rates across companies. As the macroeconomy weakens, corporate growth becomes more negatively skewed, so that a disproportionate number of firms do badly. This was first pointed out by Paul Geroski and Paul Gregg in a study of the 1990-91 recession in the UK. They showed that just 10 per cent of firms accounted for 84 per cent of the drop in profits then. However, a recent paper by Nick Bloom of Stanford University and Fatih Guvenen and Sergio Salgado at the University of Minnesota shows that much the same is true around the world. They studied corporate sales growth in 44 countries between 1986 and 2013 and found that "periods of low economic activity are characterised by an increase in the probability of very large negative shocks at the firm level".


Related Links:
Investors Chronicle - More profit warnings

CEP Growth

Nick Bloom webpage


News Posted: 04/01/2017      [Back to the Top]

Mail Online

Gloomy economists forecast Brexit trouble ahead for the UK…despite getting it wrong last year

Four in ten leading economists are more pessimistic about Britain's future after Brexit, despite the buoyant economy since the vote, according to a new FT poll. While many are looking to 2017 for a spot of better luck than 2016, UK economists are less optimistic about what the coming year will bring, the annual survey found. The Financial Times asked 122 industry experts to give their predictions for the next 12 months, with the vast majority foreseeing the British economy losing steam in the wake of higher inflation and Brexit uncertainty.


Related Links:
Mail Online - Gloomy economists forecast Brexit trouble ahead for the UK…despite getting it wrong last year

CEP Labour Markets

CEP Growth

Stephen Machin webpage

John Van reenen webpage


News Posted: 03/01/2017      [Back to the Top]

Financial Times

Brexit: 5 questions for 2017

Further reading

A derided expert speaks John Van Reenen, the outgoing director of the LSE’s Centre for Economic Performance takes no prisoners in a hard-hitting review of Brexit. Among other topics he examines the ‘lump of labour fallacy’ behind immigration concerns, the media’s Euroscepticism and Britain’s politicians, who are surely the “worst in living memory”. (LSE blog).

 

Related article

The aftermath of the Brexit vote – the verdict from a derided expert’, John Van Reenen, LSE British Politics and Policy blog, August 2, 2016

 


Related Links:
Financial Times - Brexit: 5 questions for 2017

CEP Growth

John Van reenen webpage


News Posted: 03/01/2017      [Back to the Top]

The Financial Times

Weaker pound expected to reduce immigration

Slower economic growth also predicted to deter new migrants

Question:  ‘What do you think will happen to immigration?’

Stephen Machin, professor of economics, London School of Economics

It does not seems likely to change much and therefore not much impact to follow. A worry is that high skill immigration is slowed down by current events and attitudes.

 

John Van Reenen, professor of economics, MIT

Since negotiations will be still be going on after Article 50 triggered, there will not be much effect. Levels will probably remain high (net migration above 300k) until we exit in 2018 and more controls are then introduced. More EU immigrants will come in 2017 to avoid the 2018 controls. The reduction in immigration will reduce overall growth significantly and reduce GDP per capita a bit. The loss of deep access to Single Market due to ending free movement will be the main negative effect over long-run. Lower immigration will do nothing to help UK workers — see http://cep.lse.ac.uk/pubs/download/brexit05.pdf

See Also:

Financial Times

  1. Trump’s presidency could have ‘mildly positive’ effect for the UK

    ...signals regarding a future US-UK free-trade agreement. Stephen Machin, professor of economics, London School of...

    ...will rattle investors” said John Van Reenen, a professor at the Massachusetts Institute of...

  2. Bank of England expected to keep its options open

    ...monetary discipline in the UK too. Stephen Machin, professor of economics, London School of Economics...

    ...that the approach will be very cautious. On the whole upside risk for higher interest rates but slowly. John Van Reenen

  3. Inflation predicted to rise above 2 per cent target in 2017

    ..., falling below it at the start of 2018. Stephen Machin, professor of economics, London School of Economics It seems...

    ...business cycle, wage increases and especially the weak pound are adding to inflationary pressures in 2017. John Van Reenen


Related Links:
The Financial Times - Weaker pound expected to reduce immigration

CEP Growth

CEP Labour Markets

Stephen Machin webpage

John Van reenen webpage


News Posted: 02/01/2017      [Back to the Top]

The Financial Times

Chancellor likely to overshoot borrowing forecast, economists say

Contributing factors include weaker tax revenues and pressure to rein in cuts

Question:  ‘Do you think the government will need to borrow more than it has forecast in 2017?’

Stephen Machin, professor of economics, London School of Economics

Government borrowing, if it is for areas that increase long-term growth, is not a bad thing. Indeed, while borrowing to fund infrastructure and innovation may increase the deficit in the short run it will probably decrease debt/GDP in the long run due to the effects on productivity and GDP growth (this is why countries like Italy that have not invested in these areas have low deficits but high debt/GDP). I believe, however, that UK borrowing will increase for the following good and bad reasons: (1) GOOD: because it seems that May’s government wants to bet on an active industrial and innovation policy: this requires an active investment strategy which in the short-run may increase the deficit. (2) BAD because Brexit will continue to be a major drain on the economy, causing government to waste a large amount of resources in managing the process (with evidence that they are already paying KPMG and other consultants exorbitant rates for the ‘outsourced’ part of this management), and also to make up for the lost (eventual) EU investment (Horizon, ERC, EIB etc). And (3) BAD because the fall in corporate income tax will increase the deficit, without having any effect on real investment. It will, I believe, only fuel inequality, which in the long run also raises the deficit, both due to the welfare payments that rise with inequality, and the lower tax receipts.

 

John Van Reenen, professor of economics, MIT

The current plans remain too optimistic. He will correctly use more flexibility to expand investment from current plans. Will not cur current deficit as much as planned.


Related Links:
The Financial Times - Chancellor likely to overshoot borrowing forecast, economists say

CEP Labour Markets

CEP Growth

Stephen Machin webpage

John Van reenen webpage


News Posted: 02/01/2017      [Back to the Top]

The Financial Times

Economists gloomy on UK prospects for 2017

Growth will slow, incomes will be squeezed and investment delayed, FT survey finds

Question: ‘How much, if at all, do you expect UK economic growth to slow in 2017?’

Stephen Machin, professor of economics, London School of Economics

It seems likely to that growth will be a fair bit slower than pre-Brexit referendum forecasts, mostly because the prospects of productivity and/or real wage growth do not look very promising.

 

John Van Reenen, professor of economics, MIT

Slow to about 1.4%. Greater policy uncertainty over Trump, Brexit & elections in France and Germany will harm investment and hiring

.


Related Links:
The Financial Times - Economists gloomy on UK prospects for 2017

CEP Growth

CEP Labour Markets

Stephen Machin webpage

John Van reenen webpage


News Posted: 02/01/2017      [Back to the Top]

Daily Mirror

New Year's Honours 2017: Full list of great and good awarded for services to Britain

Professor Paul Charles Cheshire. Economist. For services to Economics and Housing. (London)

Professor John Van Reenen. Economist. For services to Economics and Public Policy Making. (Abroad)


Related Links:
Daily Mirror - New Year's Honours 2017: Full list of great and good awarded for services to Britain

CEP Urban and Spatial Programme

CEP Growth

Paul Cheshire webpage

John Van reenen webpage


News Posted: 31/12/2016      [Back to the Top]

LSE British Politics and Policy blog

The year in review: Brexit and then some

In our 2015 end-of-year review, John Van Reenen predicted that Britain was heading towards Brexit. The causes of the vote, the failures of the polls, and the “Brexit-Trump syndrome” were the topics of some of our most popular articles of 2016. 

The aftermath of the Brexit vote – the verdict from a derided expert Article by John Van Reenen


Related Links:
LSE British Politics and Policy blog - The year in review: Brexit and then some

CEP Growth

John Van reenen webpage


News Posted: 31/12/2016      [Back to the Top]

LSE News

New Year Honours at LSE

Paul Cheshire, Emeritus Professor of Economic Geography, was awarded a CBE for Services to Economics and Housing.

In 2004 Professor Cheshire won the Royal Economic Society's Prize for the best paper in the Economic Journal and won the European Regional Science Association/European investment Banks prize for lifetime contribution to regional science research in 2009. He is an elected Fellow of the Academy of the Social Sciences and of the Weimer School.

Aside from his academic work he has spent time as an advisor and as a consultant for the European Commission, the World Bank, the OECD, the UN and other international organisations as well as the UK government, including being a member of the Expert Panel for the Barker Review of the Planning system.

Also receiving an honour was long-serving former member of LSE staff, Professor John Van Reenen, awarded an OBE for services to economics and pubic policy making. Until summer 2016 Professor Van Renen was Director of LSE’s Centre for Economic Performance (CEP). He is currently Professor of Applied Economics at MIT and remains an associate at CEP.


Related Links:
LSE News - New Year Honours at LSE

Brexit: the final assessment

Turning houses into gold: the failure of British planning

CEP Urban and Spatial Programme

CEP Growth

Paul Cheshire webpage

John Van reenen webpage


News Posted: 31/12/2016      [Back to the Top]

The Daily Telegraph

Former PWC boss knighted in New Year's Honours

Professor John Van Reenen, who predicted ahead of the referendum that Brexit would cost up to £1,700 per household per year, has been given an OBE for services to economics and public policy making. Other academics to receive honours include Professor Paul Cheshire, who has argued that the green belt should be opened up to ease the housing crisis. He will receive a CBE in the honours, which are recognising 1,197 people in total.


Related Links:
The Daily Telegraph - Former PWC boss knighted in New Year's Honours

BREXIT 2016: Policy Analysis from the Centre for Economic Performance

Turning houses into gold: the failure of British planning

CEP Urban and Spatial Programme

CEP Growth

Paul Cheshire webpage

John Van reenen webpage


News Posted: 30/12/2016      [Back to the Top]

Bloomberg

Tennis No. 1 Murray, Kinks frontman knighted in UK Honors List

A total of 1,197 people, representing “the very best of our nation,” were granted awards, according to a statement from the Cabinet Office. Just over half are women, 9.3 percent are from ethnic minorities, and 8.5 percent have some form of disability, making the list “the most diverse ever,” it said.

Other notable awards include:

CBE for London School of Economics professor Paul Cheshire.

OBE for and MIT economics professor John Van Reenen


Related Links:
Bloomberg - Tennis No. 1 Murray, Kinks frontman knighted in UK Honors List

CEP Urban and Spatial Programme

CEP Growth

Paul Cheshire webpage

John Van reenen webpage


News Posted: 30/12/2016      [Back to the Top]

Harvard Business Review

Why the best hospitals are managed by doctors

A study published in 2011 examined CEOs in the top-100 best hospitals in USNWR in three key medical specialties: cancer, digestive disorders, and cardiovascular care. A simple question was asked: are hospitals ranked more highly when they are led by medically trained doctors or non-MD professional managers?  The analysis showed that hospital quality scores are approximately 25% higher in physician-run hospitals than in manager-run hospitals.  The findings of course do not prove that doctors make better leaders, though the results are surely consistent with that claim.  Other studies also find this correlation. Research by Nick Bloom, Raffaella Sadun, and John Van Reenen revealed how important good management practices are to hospital performance.  But they also found that it is the proportion of managers with a clinical degree that had the largest positive effect; in other words, the separation of clinical and managerial knowledge inside hospitals was associated with worse management.


Related Links:
Harvard Business Review - Why the best hospitals are managed by doctors

In brief: Hospital performance: the impact of good management

CEP Growth

Nick Bloom webpage

Raffaella Sadun webpage

John Van reenen webpage


News Posted: 27/12/2016      [Back to the Top]

Bloomberg view

Little improvements crowd out world-changing innovation

Economists Nicholas Bloom of Stanford and John Van Reenen of the Massachusetts Institute of Technology (along with several co-authors) have been compiling evidence for a while now that companies that follow management best practices outperform their peers. In a similar vein, the University of Chicago’s Luigi Zingales recently offered this explanation for the rise in corporate profits’ share of U.S. gross domestic product:


Related Links:
Bloomberg view - Little improvements crowd out world-changing innovation

CEP Growth

Nick Bloom webpage

John Van reenen webpage


News Posted: 21/12/2016      [Back to the Top]

Sport (English version)

Ciudadanos harsh attack on Messi which forgot about Ronaldo

An economist claimed Messi would be in prison now in the United States

Economist Luis Garicano was recently elected by the Ciudadanos to take over one of the vice presidencies of the Party of the Alliance of Liberals and Democrats for Europe (ALDE) and in an interview with 'El Espanol' he did not hesitate when it came to  shifting the focus on to Leo Messi, despite the fact that the Argentine star has already been convicted of irregularities with the tax authorities. “In the world of football we’ve found there is a huge fraud situation and [in Spain] we no-one ends up in prison,” said Garicano. “In the US, Messi would be in jail right now. In Spain it is practically impossible to end up in jail for a tax offence. In the end, having effective sanctions is very important for ensuring compliance with the law.”


Related Links:
Sport (English version) - Ciudadanos harsh attack on Messi which forgot about Ronaldo

CEP Growth

Luis Garicano webpage


News Posted: 20/12/2016      [Back to the Top]

How we get to next - blog by Matt Locke

Young inventors need role models, not tax breaks

A conversation with MIT’s John Van Reenen

When we talk about innovators, we normally talk about how someone becomes one—not when. We talk about the success or failure of their experiments, products, and companies, and the gradual accrual of hard-earned experience that led to their breakthrough. We define innovators by the things they make, but rarely talk about the things that made them.  That might be because doing so brings up some uncomfortable truths: In the United States, “If your parents are the top one percent of the income distribution, then you’re 10 times more likely to grow up to be an innovator than if you’re born in the bottom 50 percent. That’s a huge difference,” says John Van Reenen, a professor in MIT Economics & Sloan.  Van Reenen is leading “The Lifecycle of Inventors,” a data-based research project looking at how the early lives of innovators affected their careers. Working with a team from Harvard, Stanford, and the U.S. Treasury, he’s looked at 1.2 million people who applied for or were granted a U.S. Patent between 1994 and 2014, and correlated this data with their education and family financial records.


Related Links:
How we get to next - blog by Matt Locke - Young inventors need role models, not tax breaks

CEP Growth

John Van reenen webpage


News Posted: 16/12/2016      [Back to the Top]

Bloomberg - politics

Rajoy gives up control of Spain market regulator in Brexit push

Prime Minister Mariano Rajoy’s decision to replace a party loyalist with an independent expert at the head of the markets regulator will help Spain lure companies seeking a new base after Britain leaves the European Union, according to Luis Garicano, head of economic policy at the Spanish liberal party, Ciudadanos. The new regulatory chief, Sebastian Albella, will burnish Madrid’s credentials as a stable legal environment, said Garicano, who proposed Albella as a candidate for the post to Economy Minister Luis de Guindos. Albella was appointed by the government last month.


Related Links:
Bloomberg - politics - Rajoy gives up control of Spain market regulator in Brexit push

CEP Growth

Luis Garicano webpage


News Posted: 16/12/2016      [Back to the Top]

LSE Business Review blog

Autumn Statement does little to dampen fears for the economic health of the UK

Brexit and the uncertainties surrounding it present an unprecedented challenge, writes Anna Valero

In his first Autumn Statement (and last – since he has decided to abolish them in favour of an annual November budget), the Chancellor presented the key forecasts from the Office for Budet Responsibility’s economic and fiscal outlook, the first since the June referendum. While there is still major uncertainty around the likely form of Brexit, the consensus is that it will inflict damage on the economy. The Chancellor highlights the UK’s weak productivity performance and outlines some policies to address it. However, given the scale of the challenge, now heightened by Brexit, the current package of government policies does little to dampen fears for the economic health of the UK.


Related Links:
LSE Business Review blog - Autumn Statement does little to dampen fears for the economic health of the UK

CEP Growth

Anna Valero webpage


News Posted: 24/11/2016      [Back to the Top]

Financial Times

May seeks solution to productivity conundrum

Skills policies would ideally be co-ordinated with the government’s proposed new industrial strategy. “In the long-run, skills are really important for growth,” said Stephen Machin, co-chair of the new LSE growth commission, which is collecting evidence on how economic growth can be enhanced.

... One area where British companies lag behind foreign competitors is the quality of management practices, according to John Van Reenan, a professor at the Massachusetts Institute of Technology. Better managers are better able to adopt new technologies and use existing ones most efficiently.

 


Related Links:
Financial Times - May seeks solution to productivity conundrum

Management Practices Across Firms and Countries

CEP Labour Markets

CEP Growth

Stephen Machin webpage

John Van reenen webpage


News Posted: 21/11/2016      [Back to the Top]

Watertown Daily Times

Displaced workers vow to hold Trump to his economic promises

“I’m pretty skeptical Trump’s policies will reverse this process,” said John Van Reenen, a professor of economics at MIT who studies how technology and innovation affect profits and wages at companies. “These are fundamental forces that have more to do with technology than trade.” In particular, he said, across developed economies more national income is going to capital, that is, owners and shareholders, rather than labor. “We’ve seen this in many countries with different political systems,” he said. “It’s a winner-take-all world.”

Also in:  Aftenposten (Norway)

 

 


Related Links:
Watertown Daily Times - Displaced workers vow to hold Trump to his economic promises

CEP Growth

John Van reenen webpage


News Posted: 20/11/2016      [Back to the Top]

SNP Helensburgh

HARD BREXIT: 'the elephant in the room' at autumn statement

HUGE THREAT TO ECONOMY TO OVERSHADOW TORY BUDGET

The Scottish National Party has said that the threat of a hard Brexit will be the ‘elephant in the room’ at the Autumn Statement.

“The Treasury have carried out an assessment and its conclusions make for pretty grim reading.  “Tax receipts down between £38 and £66 billion a year after 15 years and GDP down as much as 9.5% if the UK reverts to WTO rules.  “The impact on productivity is as bad. The LSE (Centre for Economic Performance) suggest reduced trade will reduce productivity amounting to between 6.3% and 9.5% of GDP. That is the equivalent of up to £6,400 per household


Related Links:
SNP Helensburgh - HARD BREXIT: 'the elephant in the room' at autumn statement

BREXIT 2016: Policy Analysis from the Centre for Economic Performance

CEP Growth

CEP Trade

Swati Dhingra webpage

Thomas Sampson webpage

Gianmarco Ottaviano webpage

John Van reenen webpage

Hanwei Huang webpage

Holger Breinlich webpage


News Posted: 20/11/2016      [Back to the Top]

Sunday Herald (Scotland)

'Tory austerity crippled the economy, and Brexit is going to ruin it - yet Theresa May still has no plan'

The impact on productivity is as bad. The LSE (Centre for Economic Performance) suggests reduced trade will reduce productivity amounting to between 6.3 per cent and 9.5 per cent of GDP.

This article was published online by the Sunday Herald (Scotland) on November 20, 2016

Link to article here

 


Related Links:
Sunday Herald (Scotland) - 'Tory austerity crippled the economy, and Brexit is going to ruin it - yet Theresa May still has no plan'

Brexit: the impact on UK trade and living standards

BREXIT 2016: Policy Analysis from the Centre for Economic Performance

The UK Treasury analysis of 'The long-term economic impact of EU membership and the alternatives': CEP Commentary

The consequences of Brexit for UK trade and living standards

CEP Growth

CEP Trade

Swati Dhingra webpage

Thomas Sampson webpage

Gianmarco Ottaviano webpage

John Van reenen webpage

Hanwei Huang webpage

Holger Breinlich webpage


News Posted: 20/11/2016      [Back to the Top]

Napi.hu (Hungary)

Szeretne 24 százalékos hozamot? - Akkor irány az iskola!/24 percent to yield? – you can head to the school!

Anna Valero, the London School of Economics, and John Van Reenen of MIT assessed exactly how much universities contributed to GDP. A total of 78 countries were examined over six decades, looking at 15 thousand Universities (from 1950 to 2010).


Related Links:
Napi.hu (Hungary) - Szeretne 24 százalékos hozamot? - Akkor irány az iskola!/24 percent to yield? – you can head to the school!

The Economic Impact of Universities: Evidence from Across the Globe

CEP Growth

Anna Valero webpage

John Van reenen webpage


News Posted: 18/11/2016      [Back to the Top]

Daily Journal (Illinois, USA)

Robert Samuelson: Trump's mission impossible?

… "Uncertainty is a real risk," said economist Michael Strain, of the American Enterprise, a right-of-center think tank. "I'd be reluctant to start a business now, and if I had one, I'd be reluctant to increase payroll by 15 percent until I saw how things shake out." There's more to this than an educated hunch. Three academic economists recently created an index of "policy uncertainty" to see whether greater uncertainty harmed economic growth. They found it did. (The index is based on a review of newspaper articles, reports from the Congressional Budget Office and the forecasts of economists.) Greater U.S. uncertainty "foreshadow[s] declines in investment, output and employment," wrote economists Scott R. Baker, of Northwestern University; Nicholas Bloom, of Stanford University; and Steven J. Davis, of the University of Chicago, in The Quarterly Journal of Economics.

Also in:
La Estrella De Panama
La mission imposible de Trump?

This article was published online by the Daily Journal (Illinois, USA) on November 15, 2016
Link to article here


Related Links:
Daily Journal (Illinois, USA) - Robert Samuelson: Trump's mission impossible?

Measuring Economic Policy Uncertainty

CEP Growth

Nick Bloom webpage


News Posted: 15/11/2016      [Back to the Top]

FXStreet

What will Brexit do to Britain's growth rate?

We have gone back to the post-Brexit growth forecasts made earlier this year by six organisations – the NIESR, the Treasury, the OECD, the London School of Economics, the Confederation for British Industry and Open Europe – in the run up to the referendum. Their methodologies and assumptions varied enormously, as did their results.

This article was published online by FXStreet on November 7, 2016.
Link to article here


Related Links:
FXStreet - What will Brexit do to Britain's growth rate?

‘ECONOMISTS FOR BREXIT’: A critique

CEP Trade

CEP Growth

Swati Dhingra webpage

Holger Breinlich webpage

Hanwei Huang webpage

Gianmarco Ottaviano webpage

Thomas Sampson webpage

John Van reenen webpage


News Posted: 07/11/2016      [Back to the Top]

The Herald Scotland

Panic! We're led by a Dad's Army of Brexiter buffoons

It's beginning to dawn on Brexit voters that leaving the EU will be a disaster for working people. Inflation is back as a direct result of the 18 per cent devaluation of the pound since June 23. The forecast for price rises next year is three to four per cent, which doesn't sound like much but most of this is going to be on essentials such as food, clothing, energy and transport, which will disproportionately hit those on already tight family budgets. Meanwhile, the Guardian reported yesterday that the UK Cabinet has been presented with three independent reports (from the Treasury, the National Institute of Economic and Social Research and the London School of Economics) forecasting an average loss of 4.5 per cent of GDP by 2030. That is equivalent to a major economic recession spread over 15 years. We are talking about losing hundreds of billions of pounds in economic output if Britain is forced out of the EU customs union, the destination of half of Britain's exports. We know who will pay the price of the public spending cuts that will ride on the back of this fall in national wealth. Brexit ministers pooh-pooh this as pessimism and negativity from Bremoaners and Eurowhingers. But they've demonstrably failed to come up with any alternative forecasts, or indeed any coherent plan for dealing with the consequences of isolation. Intoxicated by their referendum victory, Brexiters seem to be more interested in fantasising about new Royal Yachts and inspecting the teeth of migrant children.

This article was published online by The Herald Scotland on October 20, 2016
Link to article here

Related publications
June 20, 2016
CEP, NIESR and IFS blog
Leaving the EU would almost certainly damage our economic prospects
Economists for Brexit: A Critique, Thomas Sampson, Swati Dhingra, Gianmarco Ottaviano and John Van Reenen, CEP Brexit Analysis Series, Paper No.6, May 2016
See the complete set of CEP Brexit Analysis research papers here

Related links
Holger Breinlich webpage
Swati Dhingra webpage
Hanwei Huang webpage
Gianmarco Ottaviano webpage
Thomas Sampson webpage
John Van Reenen webpage
Trade Programme webpage
Growth Programme webpage


News Posted: 20/10/2016      [Back to the Top]

International Business Times

Latest twists as the Cabinet clashes over Brexit, Single Markets and customs unions

Prime Minister Theresa May is in Brussels for her first EU summit as UK leader, in the same week as cabinet ministers were presented with a paper warning that Britain pulling out of the EU customs union could lead to a 4.5% fall in GDP by 2030. The paper presented to ministers - a mixture of studies by the Treasury, the think tank NIESR and the Centre for Economic Performance and London School of Economics - also said ports such as Dover and Holyhead, which handle a lot of road freight, could become log-jammed if customs checks on vehicles transporting goods were introduced.

This article was published online by the International Business Times on October 20, 2016
Link to article here

Related publications
June 20, 2016
CEP, NIESR and IFS blog
Leaving the EU would almost certainly damage our economic prospects
Economists for Brexit: A Critique, Thomas Sampson, Swati Dhingra, Gianmarco Ottaviano and John Van Reenen, CEP Brexit Analysis Series, Paper No.6, May 2016
See the complete set of CEP Brexit Analysis research papers here

Related links
Holger Breinlich webpage
Swati Dhingra webpage
Hanwei Huang webpage
Gianmarco Ottaviano webpage
Thomas Sampson webpage
John Van Reenen webpage
Trade Programme webpage
Growth Programme webpage


News Posted: 20/10/2016      [Back to the Top]

City A.M.

Leaked government documents reveal £75bn cost of hard Brexit

The calculations, sent to May's close-knit team of Brexit advisers, which includes Hammond, David Davis, Liam Fox and Boris Johnson, claim the UK economy would be 4.5 percent smaller by 2030 if it leaves the Customs Union as part of any Brexit deal.
... the claims which are arrived at by taking the average assessment obtained from the controversial work undertaken by the Treasury before the vote, along with pre-23 June studies from the NIESR and the London School of Economics, werer dismissed by several experts.

This article was published online by City A.M. on October 19, 2016,br> Link to article here

Related publications
June 20, 2016
CEP, NIESR and IFS blog
Leaving the EU would almost certainly damage our economic prospects
Economists for Brexit: A Critique, Thomas Sampson, Swati Dhingra, Gianmarco Ottaviano and John Van Reenen, CEP Brexit Analysis Series, Paper No.6, May 2016
See the complete set of CEP Brexit Analysis research papers here

Related links
Holger Breinlich webpage
Swati Dhingra webpage
Hanwei Huang webpage
Gianmarco Ottaviano webpage
Thomas Sampson webpage
John Van Reenen webpage
Trade Programme webpage
Growth Programme webpage


News Posted: 19/10/2016      [Back to the Top]

Guardian

Philip Hammond to be pressed on risks of UK leaving EU customs union

Chancellor to appear before Treasury select committee after Whitehall estimates show economy could shrink by 4.5%
Trade flows and foreign investment would also be hit hard by leaving the customs union, according to figures calculated for the Guardian on the same basis as those prepared by civil servants for the government's Brexit committee. The pro-EU thinktank Open Britain used the same studies - by the National Institute for Economic and Social Research, the Treasury and the London School of Economics - to suggest trade could decline by almost 12% and foreign investment by 10%, or more than £4bn, if Britain left the customs union.

This article was published by The Guardian on October 19, 2016
Link to article here

Related publications
June 20, 2016
CEP, NIESR and IFS blog
Leaving the EU would almost certainly damage our economic prospects
Economists for Brexit: A Critique, Thomas Sampson, Swati Dhingra, Gianmarco Ottaviano and John Van Reenen, CEP Brexit Analysis Series, Paper No.6, May 2016
See the complete set of CEP Brexit Analysis research papers here

Related links
Holger Breinlich webpage
Swati Dhingra webpage
Hanwei Huang webpage
Gianmarco Ottaviano webpage
Thomas Sampson webpage
John Van Reenen webpage
Trade Programme webpage
Growth Programme webpage


News Posted: 19/10/2016      [Back to the Top]

The Independent

Brexit: Theresa May warned Britain could lose 4.5% of its GDP if it leaves EU customs union

Cabinet ministers receive stark economic warnings against adopting a 'Norway-style' model
The UK could suffer a fall in GDP of 4.5% by 2030 if it leaves the EU customs union. Cabinet ministers were given stark warnings from multiple sources of the effect of adopting a Norway-style model, in a paper that was circulated at a meeting of Theresa May's Brexit cabinet committee, according to the Guardian. Studies by the Treasury, think tank NIESR and London School of Economics' Centre for Economic Performance, made pre-Brexit predictions of the impact of the UK remaining in the single market but leaving the customs union.

This article was published by The Independent on October 19, 2016
Link to article here

Related publications
June 20, 2016
CEP, NIESR and IFS blog
Leaving the EU would almost certainly damage our economic prospects
Economists for Brexit: A Critique, Thomas Sampson, Swati Dhingra, Gianmarco Ottaviano and John Van Reenen, CEP Brexit Analysis Series, Paper No.6, May 2016
See the complete set of CEP Brexit Analysis research papers here

Related links
Holger Breinlich webpage
Swati Dhingra webpage
Hanwei Huang webpage
Gianmarco Ottaviano webpage
Thomas Sampson webpage
John Van Reenen webpage
Trade Programme webpage
Growth Programme webpage


News Posted: 19/10/2016      [Back to the Top]

The Daily Mail

Ministers do battle over whether Britain should stay in the European customs union amid warnings quitting could mean a 4.5% hit to economy

Ministers are at loggerheads over whether to quit the European customs union amid warnings it could mean a 4.5 per cent hit to GDP.
Papers circulated at a meeting of the Brexit Cabinet committee apparently suggested that leaving could clog up trade through Britain's ports.
The research, by the Treasury, the thinktank NIESR, the Centre for Economic Performance and London School of Economics focus on a Norway-style model where the UK exits the single market but stays inside the customs union.

This article was published by The Daily Mail on October 19, 2016
Link to article here

Related publications
June 20, 2016
CEP, NIESR and IFS blog
Leaving the EU would almost certainly damage our economic prospects
Economists for Brexit: A Critique, Thomas Sampson, Swati Dhingra, Gianmarco Ottaviano and John Van Reenen, CEP Brexit Analysis Series, Paper No.6, May 2016
See the complete set of CEP Brexit Analysis research papers here

Related links
Holger Breinlich webpage
Swati Dhingra webpage
Hanwei Huang webpage
Gianmarco Ottaviano webpage
Thomas Sampson webpage
John Van Reenen webpage
Trade Programme webpage
Growth Programme webpage


News Posted: 19/10/2016      [Back to the Top]

The Independent

Britain, these are the five realistic choices for Brexit - take your pick

The Economists for Brexit group claim Brexit 5 would deliver a UK growth boom by 2020. But economists at the London School of Economics say this is ideologically driven pseudoscience and that unilateral free trade would, in fact, reduce UK GDP by between 6.3 per cent and 9.5 per cent by 2030, equivalent to between £4,200 and £6,300 per household.

This article was published by The Independent on October 19, 2016
Link to article here

Related Publications
Economists for Brexit: A Critique, Thomas Sampson, Swati Dhingra, Gianmarco Ottaviano and John Van Reenen, CEP Brexit Analysis Series, Paper No.6, May 2016

Related links
Swati Dhingra webpage
Gianmarco Ottaviano webpage
Thomas Sampson webpage
John Van Reenen webpage
Trade Programme webpage
Growth Programme webpage


News Posted: 19/10/2016      [Back to the Top]

The Guardian

Theresa May given stark warning about leaving customs union

The studies, by the Treasury, the thinktank NIESR and the Centre for Economic Performance and London School of Economics, predicted the effect on the British economy if the UK was to opt for a Norway-style model. That would involve remaining inside the single market but outside the customs union, within which countries set common external tariffs and so do not require customs checks.

This article was published by the Guardian on October 18, 2016
Link to article here

Related publications
June 20, 2016
CEP, NIESR and IFS blog
Leaving the EU would almost certainly damage our economic prospects
See the complete set of CEP Brexit Analysis research papers here

Related links
Holger Breinlich webpage
Swati Dhingra webpage
Hanwei Huang webpage
Gianmarco Ottaviano webpage
Thomas Sampson webpage
John Van Reenen webpage
Trade Programme webpage
Growth Programme webpage


News Posted: 18/10/2016      [Back to the Top]

Yahoo! Canada Finance

Why income inequality among white collar workers is growing

This article was based on the research of Luis Garicano and Thomas N. Hubbard.
Rising income inequality in the U.S. may seem like a 21st-century preoccupation, as workers agitate to ''occupy Wall Street'' from the left and to ''make America great again'' from the right. But the wage gap separating high-income Americans from everyone else has actually been growing since the late 1970s, even as nationwide productivity and overall wages have risen. Traditionally, economic explanations of this trend have fallen into two categories. Some assign responsibility to policies - for example, claiming that changes in tax policy in the 1980s and early 2000s increased earnings inequality. Others assign responsibility to changes in the supply and demand for labor - for example, arguing that the long shift in the U.S. economy from manufacturing to services may have boosted the demand for skilled workers relative to unskilled workers.
Thomas Hubbard, a professor of strategy at the Kellogg School, has a different idea. In two research papers coauthored with Luis Garicano of the London School of Economics, Hubbard makes a case that in addition to tax policy and labor-market shifts, organizational efficiencies have played a role in widening the income gap.

This article was published online by Yahoo! Canada Finance on October 16, 2016
Link to article here

Related links
Luis Garicano webpage
Growth Programme webpage
Luis Garicano CEP publications webpage


News Posted: 16/10/2016      [Back to the Top]

The Independent

Brexit: UK faces £350m-a-week ‘divorce bill' as result of leaving the EU

Economist Thomas Sampson told The Independent: ''It's important to remember that the exit bill would be a one-off payment and in the longer run it is likely to be dwarfed by the broader economic costs resulting from reduced integration with EU markets, particularly if the government pursues a hard Brexit.''

This article was published by The Independent on October 14, 2016
Link to article here

Related publications
Brexit: the impact on UK trade and living standards, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen. Article in CentrePiece Volume 21, Issue 1, Summer 2016
The Consequences of Brexit for UK Trade and Living Standards, CEP Brexit Analysis No. 2 by Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, March 2016

Related links
Thomas Sampson webpage
Trade Programme webpage


News Posted: 14/10/2016      [Back to the Top]

The Independent

Brexit: UK faces £350m-a-week ‘divorce bill' as result of leaving the EU

Economist Thomas Sampson told The Independent: ''It's important to remember that the exit bill would be a one-off payment and in the longer run it is likely to be dwarfed by the broader economic costs resulting from reduced integration with EU markets, particularly if the government pursues a hard Brexit.''

This article was published by The Independent on October 14, 2016
Link to article here

Related publications
Brexit: the impact on UK trade and living standards, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen. Article in CentrePiece Volume 21, Issue 1, Summer 2016
The Consequences of Brexit for UK Trade and Living Standards, CEP Brexit Analysis No. 2 by Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, March 2016

Related links
Thomas Sampson webpage
Trade Programme webpage


News Posted: 14/10/2016      [Back to the Top]

The Independent

Brexit: UK faces £350m-a-week ‘divorce bill' as result of leaving the EU

Economist Thomas Sampson told The Independent: ''It's important to remember that the exit bill would be a one-off payment and in the longer run it is likely to be dwarfed by the broader economic costs resulting from reduced integration with EU markets, particularly if the government pursues a hard Brexit.''

This article was published by The Independent on October 14, 2016
Link to article here

Related publications
Brexit: the impact on UK trade and living standards, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen. Article in CentrePiece Volume 21, Issue 1, Summer 2016
The Consequences of Brexit for UK Trade and Living Standards, CEP Brexit Analysis No. 2 by Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, March 2016

Related links
Thomas Sampson webpage
Trade Programme webpage


News Posted: 14/10/2016      [Back to the Top]

The Independent

Brexit: UK faces £350m-a-week ‘divorce bill' as result of leaving the EU

Economist Thomas Sampson told The Independent: ''It's important to remember that the exit bill would be a one-off payment and in the longer run it is likely to be dwarfed by the broader economic costs resulting from reduced integration with EU markets, particularly if the government pursues a hard Brexit.''

This article was published by The Independent on October 14, 2016
Link to article here

Related publications
Brexit: the impact on UK trade and living standards, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen. Article in CentrePiece Volume 21, Issue 1, Summer 2016
The Consequences of Brexit for UK Trade and Living Standards, CEP Brexit Analysis No. 2 by Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, March 2016

Related links
Thomas Sampson webpage
Trade Programme webpage


News Posted: 14/10/2016      [Back to the Top]

The Independent

Brexit: UK faces £350m-a-week ‘divorce bill' as result of leaving the EU

Economist Thomas Sampson told The Independent: ''It's important to remember that the exit bill would be a one-off payment and in the longer run it is likely to be dwarfed by the broader economic costs resulting from reduced integration with EU markets, particularly if the government pursues a hard Brexit.''

This article was published by The Independent on October 14, 2016
Link to article here

Related publications
Brexit: the impact on UK trade and living standards, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen. Article in CentrePiece Volume 21, Issue 1, Summer 2016
The Consequences of Brexit for UK Trade and Living Standards, CEP Brexit Analysis No. 2 by Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, March 2016

Related links
Thomas Sampson webpage
Trade Programme webpage


News Posted: 14/10/2016      [Back to the Top]

The Independent

Brexit: UK faces £350m-a-week ‘divorce bill' as result of leaving the EU

Economist Thomas Sampson told The Independent: ''It's important to remember that the exit bill would be a one-off payment and in the longer run it is likely to be dwarfed by the broader economic costs resulting from reduced integration with EU markets, particularly if the government pursues a hard Brexit.''

This article was published by The Independent on October 14, 2016
Link to article here

Related publications
Brexit: the impact on UK trade and living standards, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen. Article in CentrePiece Volume 21, Issue 1, Summer 2016
The Consequences of Brexit for UK Trade and Living Standards, CEP Brexit Analysis No. 2 by Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, March 2016

Related links
Thomas Sampson webpage
Trade Programme webpage


News Posted: 14/10/2016      [Back to the Top]

BBC Three Counties Radio

Jasmeen Khan

Caller mentions research by the Centre for Economic Performance at around 01:11:05
Caller: ... not in many cases a cynical attempt on the part of employers to simply cheat workers by paying them the lowest wages that they can. It's a competitive market that they are operating in and unless they are able to manage their costs then they go out of business.
Interviewer: ... language around the EU was people that felt workers from outside the country were taking jobs that they had a right to.
Caller: There is no evidence of that really.
Interviewer: you can't deny the strength of the sentiment
Caller: ... it's a great shame that that was allowed to take root. I can't remember any really effective methods on the part of any politicians, certainly from the mainstream parties, to do that. The only - in the FT this week there was a long article that refuted all these allegations about low wages - about migrant workers driving down wages - the London School of Economics, their Economic Performance Centre [sic] looked at all of this and refuted all of those arguments as well but there was nobody amongst the politicians who took up these arguments and ... [caller lost]

The radio programme was broadcast on BBC Three Counties Radio's Yasmeen Khan talk show on October 9, 2016
Link to the broadcast here

Related publications
Immigration and the UK Labour Market, Jonathan Wadsworth, Centre for Economic Performance 2015 Election Analysis No 19, February 2015
Brexit and the Impact of Immigration on the UK, Swati Dhingra, Gianmarco Ottaviano, John Van Reenen and Jonathan Wadsworth, CEP Brexit Analysis Series Paper No.05, May 2016
Technical Appendix to 'Brexit and the impact of immigration on the UK'
See the whole series of CEP Brexit Analysis papers here

Related links
Jonathan Wadsworth webpage
Swati Dhingra webpage
Gianmarco Ottaviano webpage
John Van Reenen webpage
Labour Markets Programme webpage
Trade Programme webpage
Growth Programme webpage


News Posted: 09/10/2016      [Back to the Top]

The Independent

Jeremy Corbyn's reaction to what Theresa May said about immigration was the last thing Labour needed

[Jeremy] Corbyn too is proposing a solution ''which would reduce numbers'', despite the fact in its 2015 General Election briefing, the Centre for Economic Performance at the London School of Economics observed: ''There is still no evidence of an overall negative impact of immigration on jobs, wages, housing or the crowding out of public services.''

This article was published online by the Independent on October 6, 2016
Link to article here

Related publications
Immigration and the UK Labour Market, Jonathan Wadsworth, Centre for Economic Performance 2015 Election Analysis No 19, February 2015
Brexit and the Impact of Immigration on the UK, Swati Dhingra, Gianmarco Ottaviano, John Van Reenen and Jonathan Wadsworth, CEP Brexit Analysis Series Paper No.05, May 2016
Technical Appendix to 'Brexit and the impact of immigration on the UK'
See the whole series of CEP Brexit Analysis papers here

Related links
Jonathan Wadsworth webpage
Swati Dhingra webpage
Gianmarco Ottaviano webpage
John Van Reenen webpage
Labour Markets Programme webpage
Trade Programme webpage
Growth Programme webpage


News Posted: 06/10/2016      [Back to the Top]

Financial Times

Proposals on lines of foreign workers cause outcry

Academic studies also find little link between migration and unemployment. Economists from the Centre for Economic Performance at the London School of Economics say that when they look at the areas with the largest increases in EU immigration, these have not had the sharpest falls in employment or wages since 2008.

This article was published by the Financial Times on October 5, 2016
Link to article here

Related publications
Immigration and the UK Labour Market, Jonathan Wadsworth, Centre for Economic Performance 2015 Election Analysis No 19, February 2015
Brexit and the Impact of Immigration on the UK, Swati Dhingra, Gianmarco Ottaviano, John Van Reenen and Jonathan Wadsworth, CEP Brexit Analysis Series Paper No.05, May 2016
Technical Appendix to 'Brexit and the impact of immigration on the UK'
See the whole series of CEP Brexit Analysis papers here

Related links
Jonathan Wadsworth webpage
Swati Dhingra webpage
Gianmarco Ottaviano webpage
John Van Reenen webpage
Labour Markets Programme webpage
Trade Programme webpage
Growth Programme webpage


News Posted: 05/10/2016      [Back to the Top]

The Telegraph (online)

On immigration and jobs, Theresa May employs the post-truth politics of Donald Trump

I am one of those people who, as she anticipated, have a bit of a problem with something Mrs May said about immigration:

If you're one of those people who lost their job, who stayed in work but on reduced hours, took a pay cut as household bills rocketed, or - and I know a lot of people don't like to admit this - someone who finds themselves out of work or on lower wages because of low-skilled immigration, life simply doesn't seem fair.

... it may be worth looking at another paper by the the Centre for Economic Performance at the London School of Economics.

It concludes thus:

There is still no evidence of an overall negative impact of immigration on jobs, wages, housing or the crowding out of public services. Any negative impacts on wages of less skilled groups are small. One of the largest impacts of immigration seems to be on public perceptions.

This article was published online by The Telegraph on October 5, 2016
Link to article here

Also in
MSN.com
On immigration and jobs, Theresa May employs the post-truth politics of Donald Trump

Related publications
Brexit and the Impact of Immigration on the UK, Swati Dhingra, Gianmarco Ottaviano, John Van Reenen and Jonathan Wadsworth, CEP Brexit Analysis Series Paper No.05, May 2016
Technical Appendix to 'Brexit and the impact of immigration on the UK'
See the whole series of CEP Brexit Analysis papers here

Related links
Jonathan Wadsworth webpage
Swati Dhingra webpage
Gianmarco Ottaviano webpage
John Van Reenen webpage
Labour Markets Programme webpage
Trade Programme webpage
Growth Programme webpage


News Posted: 05/10/2016      [Back to the Top]

The Financial Times

Proposals on lists of foreign workers cause outcry

Economists see little to link migration and unemployment
There is little evidence that migrants have displaced British workers from jobs. Indeed, the employment rate for UK nationals is now 74.6 per cent, the highest since records began in 1997. Academic studies also find little link between migration and unemployment. Economists from the Centre for Economic Performance at the London School of Economics say that when they look at the areas with the largest increases in EU immigration, these have not had the sharpest falls in employment or wages since 2008.

This article was published by The Financial Times on October 6, 2016
Link to article here

Related publications
Brexit and the Impact of Immigration on the UK, Swati Dhingra, Gianmarco Ottaviano, John Van Reenen and Jonathan Wadsworth, CEP Brexit Analysis Series Paper No.05, May 2016
Technical Appendix to 'Brexit and the impact of immigration on the UK'
See the whole series of CEP Brexit Analysis papers here

Related links
Jonathan Wadsworth webpage
Swati Dhingra webpage
Gianmarco Ottaviano webpage
John Van Reenen webpage
Labour Markets Programme webpage
Trade Programme webpage
Growth Programme webpage


News Posted: 05/10/2016      [Back to the Top]

The Independent

Immigrants who 'consume' Britain's wealth are not welcome, Liam Fox says

A study by the London School of Economics published earlier this year found that EU immigration had no negative impact on British wages, jobs or public services. That research echoed the findings of countless other studies on the issue. The Government has yet to set out any particular vision for what immigration policy might look like after Brexit, though it has said it wants to end the status quo of freedom of movement.

This article was published by The Independent on October 5, 2016
Link to article here

Related publications
Brexit and the Impact of Immigration on the UK, Swati Dhingra, Gianmarco Ottaviano, John Van Reenen and Jonathan Wadsworth, CEP Brexit Analysis Series Paper No.05, May 2016
Technical Appendix to 'Brexit and the impact of immigration on the UK'
See the whole series of CEP Brexit Analysis papers here

Related links
Jonathan Wadsworth webpage
Swati Dhingra webpage
Gianmarco Ottaviano webpage
John Van Reenen webpage
Labour Markets Programme webpage
Trade Programme webpage
Growth Programme webpage


News Posted: 05/10/2016      [Back to the Top]

The Economist

Free exchange: Down to earth

Brexiteers need to respect gravity models of international trade
Furthermore, according to Swati Dhingra of the London School of Economics, gravity models do a good job of predicting actual trading relationships today.

This article was published in The Economist on October 1, 2016
Link to article here

Related links
Swati Dhingra webpage
Trade Programme webpage
Swati Dhingra CEP publications webpage


News Posted: 01/10/2016      [Back to the Top]

The Economist

Free exchange: Down to earth

Brexiteers need to respect gravity models of international trade
Furthermore, according to Swati Dhingra of the London School of Economics, gravity models do a good job of predicting actual trading relationships today.

This article was published in The Economist on October 1, 2016
Link to article here

Related links
Swati Dhingra webpage
Trade Programme webpage
Swati Dhingra CEP publications webpage


News Posted: 01/10/2016      [Back to the Top]

The Economist

Free exchange: Down to earth

Brexiteers need to respect gravity models of international trade
Furthermore, according to Swati Dhingra of the London School of Economics, gravity models do a good job of predicting actual trading relationships today.

This article was published in The Economist on October 1, 2016
Link to article here

Related links
Swati Dhingra webpage
Trade Programme webpage
Swati Dhingra CEP publications webpage


News Posted: 01/10/2016      [Back to the Top]

The Economist

Free Trade: Coming and going

Truth and myth about the effects of openness to trade
In other rich countries, regions or industries with heavy exposure to Chinese imports also suffered material losses in factory jobs. A study of Spain's jobs market by Vicente Donoso, of the Complutense University of Madrid, and others found that provinces with the greatest exposure to Chinese imports saw the largest falls in the share of manufacturing employment between 1999 and 2007, but this was compensated for by an increase in non-factory jobs. Research in Norway, though, found that the main effect was to raise unemployment. Joao Paulo Pessoa of the London School of Economics found that British workers in industries exposed to high levels of import competition from China spent more time out of work than those in other industries. A wide-ranging study of the effect on Germany of more trade with China and eastern Europe in the two decades after 1988 concluded that industries competing with imports suffered job losses, but these were outweighed by job gains in regions focused on export industries. Those gains were due almost entirely to trade with eastern Europe, not China.

This article was published in The Economist on October 1, 2016
Link to article here

Related publications
China shock: the impact on trade and incomes, Joao Paulo Pessoa. Article in CentrePiece Volume 21, Volume 2, Summer 2016
This article summarises International Competition and Labor Market Adjustment, Joao Paulo Pessoa, Centre for Economic Performance Discussion Paper No. 1411, March 2016

Related links
Joao Paulo Pessoa is a research associate in CEP's growth programme
Growth Programme webpage


News Posted: 01/10/2016      [Back to the Top]

indy100 Independent

Jeremy Corbyn is absolutely right about immigration. Here's why

3. Immigrants have not depressed the wages of UK workers
A report by the London School of Economics this year showed that there was no correlation between an increase in immigration and the recent dip in wages. While wages have fallen in recent years and immigration continued to rise, wages were also rising while immigration was rising.
Includes a figure from research published by the Centre for Economic Performance

This article was published online by indy100 Independent on September 28, 2016
Link to article here

Related publications
Brexit and the Impact of Immigration on the UK, Swati Dhingra, Gianmarco Ottaviano, John Van Reenen and Jonathan Wadsworth, CEP Brexit Analysis Series Paper No.05, May 2016
Technical Appendix to 'Brexit and the impact of immigration on the UK'
See the whole series of CEP Brexit Analysis papers here

Related links
Jonathan Wadsworth webpage
Swati Dhingra webpage
Gianmarco Ottaviano webpage
John Van Reenen webpage
Labour Markets Programme webpage
Trade Programme webpage
Growth Programme webpage


News Posted: 28/09/2016      [Back to the Top]

Sputnik News

Soft Power: This is how Chinese companies conquer Britain

According to estimates by the London School of Economics, Brexit will result in a 22 percent drop in direct investment into the British economy and a 3.4 percent drop in revenues.

This article was published online by Sputnik News on September 27, 2016
Link to article here

Related publications
See the complete set of CEP Brexit Analysis research papers here

Related links
Swati Dhingra webpage
Hanwei Huang webpage
Gianmarco Ottaviano webpage
Thomas Sampson webpage
John Van Reenen webpage
Trade Programme webpage
Growth Programme webpage


News Posted: 27/09/2016      [Back to the Top]

Washington Center for Equitable Growth

Must-Read: Anna Valero and John Van Reenen: The Economic Impact of Universities: Evidence from Across the Globe

Must-Read: Anna Valero and John Van Reenen: 'The Economic Impact of Universities: Evidence from Across the Globe'

This article was published online by the Washington Center for Equitable Growth on September 22, 2016
Link to article here

Related articles
Growth multiplier: how university expansion increases national income, Anna Valero and John Van Reenen, LSE British Politics and Policy blog, March 24, 2016
The Economic Impact of Universities: Evidence from Across the Globe, Anna Valero and John Van Reenen, Centre for Economic Performance Discussion Paper No.1444, August 2016

Related links
Anna Valero webpage
John Van Reenen webpage
Growth Programme webpage


News Posted: 22/09/2016      [Back to the Top]

La Croix.com (France)

Brexit, l'économie britannique fait de la résistance

With a major question mark: foreign groups continue to invest in the country? The Centre for Economic Performance at the London School of Economics estimated that membership of the EU has indeed increased foreign direct investment in the country to 28%.

This article was published online by La Croix.com on September 21, 2016
Link to article here

Related publications
See the complete set of CEP Brexit Analysis research papers here

Related links
Swati Dhingra webpage
Hanwei Huang webpage
Gianmarco Ottaviano webpage
Thomas Sampson webpage
John Van Reenen webpage
Trade Programme webpage
Growth Programme webpage


News Posted: 21/09/2016      [Back to the Top]

The Age (Australia)

For faster growth, companies need better chief executives

A paper by Nicholas Bloom and others, from Stanford University, finds that well-managed firms perform better than their peers and make a greater contribution to a nation's total-factor productivity. ... Bloom and colleagues estimate that, across all countries, 29 per cent of the difference in productivity between the US - which has the highest management effectiveness scores - and other nations can be explained by how well businesses are run.

This article was published online by the Age (Australia) on September 18, 2016
Link to article here

Also in:
Canberra Times
For faster growth, companies need better chief executives
[No link available]

Related publications
Management Practices Across Firms and Countries, Nicholas Bloom, Christos Genakos, Raffaella Sadun and John Van Reenen, Centre for Economic Performance Discussion Paper No.1109, December 2011
Management Practices: the impact on company performance, Nicholas Bloom, Stephen Dorgan, John Dowdy, Tom Rippin and John Van Reenen. Article in CentrePiece Volume 10, Issue 2, Summer 2005

Related links
Nicholas Bloom webpage
Christos Genakos webpage
Raffaella Sadun webpage
John Van Reenen webpage
Growth Programme webpage


News Posted: 18/09/2016      [Back to the Top]

The Sydney Morning Herald

Faster growth demands better chief executives

A paper by Nicholas Bloom and others, from Stanford University, finds that well-managed firms perform better than their peers and make a greater contribution to a nation's total-factor productivity. ... Bloom and colleagues estimate that, across all countries, 29 per cent of the difference in productivity between the US - which has the highest management effectiveness scores - and other nations can be explained by how well businesses are run.

This article was published online by The Sydney Morning Herald (Australia) on September 18, 2016
Link to article here

Related publications
Management Practices Across Firms and Countries, Nicholas Bloom, Christos Genakos, Raffaella Sadun and John Van Reenen, Centre for Economic Performance Discussion Paper No.1109, December 2011
Management Practices: the impact on company performance, Nicholas Bloom, Stephen Dorgan, John Dowdy, Tom Rippin and John Van Reenen. Article in CentrePiece Volume 10, Issue 2, Summer 2005

Related links
Nicholas Bloom webpage
Christos Genakos webpage
Raffaella Sadun webpage
John Van Reenen webpage
Growth Programme webpage


News Posted: 18/09/2016      [Back to the Top]

The Conversation

How universities boost economic growth

Article by Anna Valero
In 1900, just 1% of young people in the world were enrolled at university. Over the course of the next century this exploded to 20%, as recognition of the value of such an education became widespread. And it turns out that the expansion of higher education from 1950 onwards was not just the product of growing wealth, it has also helped fuel economic growth around the world. These were the findings of my recent paper with colleague John Van Reenen, which analysed new data from UNESCO's World Higher Education Database of 15,000 universities across 78 countries. We examined the relationship between new universities and regional growth between 1950 and 2010.

This article was published online by The Conversation on September 15, 2016
Link to article here

Related publications
The Economic Impact of Universities: Evidence from Across the Globe, Anna Valero and John Van Reenen, Centre for Economic Performance Discussion Paper No.1444, August 2016

Related links
Anna Valero webpage
Growth Programme webpage


News Posted: 15/09/2016      [Back to the Top]

Bloomberg Gadfly

So long, pay rise

See this study by Joao Paulo Pessoa and John Van Reenen.

This article was published online by the Bloomberg Gadfly blog on September 2, 2016
Link to article here

Related Publications
Decoupling of Wage Growth and Productivity Growth? Myth and Reality Joao Paulo Pessoa, John Van Reenen, Centre for Economic Performance Discussion Paper No.1246, October 2013
Wage growth and productivity growth: the myth and reality of 'decoupling', Joao Paulo Pessoa and John Van Reenen. Artice in CentrePiece Volume 18, Issue 2, Autumn 2013

Related Links
John Van Reenen webpage
Growth Programme webpage


News Posted: 02/09/2016      [Back to the Top]

Tim Harford - The Undercover Economist blog

Are universities worth it?

A recent research paper by Anna Valero and John Van Reenen of the LSE takes a statistical look at universities around the world, asking whether they seem to boost their regional economies. (Examples of a ''region'' include Quebec, Illinois, Wales, and New Zealand's North Island.)

This blog was published by Tim Harford - Undercover Economist on August 31, 2016
Link to article here

Related articles
Growth multiplier: how university expansion increases national income Anna Valero and John Van Reenen, LSE British Politics and Policy blog, March 24, 2016
The Economic Impact of Universities: Evidence from Across the Globe Anna Valero and John Van Reenen, Centre for Economic Performance Discussion Paper No.1444, August 2016

Related links
Anna Valero webpage
John Van Reenen webpage
Growth Programme webpage

News Posted: 31/08/2016      [Back to the Top]

Cronista.com

La Universidad a veces solo sirve para perder el tiempo

 Una reciente investigacion de Anna Valero y John Van Reenen de la LSE analiza estadisticamente a las casas de altos estudios de todo el mundo

Por lo tanto, el argumento a favor de construir mas universidades debe fundamentarse en aspectos mas prosaicos. Una reciente investigacion de Anna Valero y John Van Reenen de la LSE analiza estadisticamente a las casas de altos estudios de todo el mundo, preguntandoles si ellas creian que impulsaban sus economias regionales. (Ejemplos de una "region" son Quebec, Illinois y Gales)

This article appeared in Cronista.com on 29 August 2016 Link to article

See Also
Wednesday 24 August Insider.gr (Greece) Worth the battle for a place at the University?

Related articles
Growth multiplier: how university expansion increases national income Anna Valero and John Van Reenen, LSE British Politics and Policy blog, March 24, 2016
The Economic Impact of Universities: Evidence from Across the Globe Anna Valero and John Van Reenen, Centre for Economic Performance Discussion Paper No.1444, August 2016

Related links
Anna Valero webpage
John Van Reenen webpage
Growth Programme webpage

News Posted: 29/08/2016      [Back to the Top]

Daily Republic

The age of the never-ending performance review: Justin Fox

There’s also a pretty good chance that these new performance-management practices will have the desired effect, at some companies at least. For the past decade, Stanford economist Nicholas Bloom and a rotating crew of co-authors (most consistently MIT’s John van Reenen) have been documenting that the management best practices developed at high-performing companies and consulting firms and taught at business schools really do make companies more productive and profitable – and that HR practices that effectively identify and reward the most-productive workers are a big part of what separates successful companies from the rest.

This article appeared in the Daily Republic on 28 August 2016 Link to article

Related publications
Management Practices Across Firms and Countries, Nicholas Bloom, Christos Genakos, Raffaella Sadun and John Van Reenen, Centre for Economic Performance Discussion Paper No.1109, December 2011
Management Practices: the impact on company performance, Nicholas Bloom, Stephen Dorgan, John Dowdy, Tom Rippin and John Van Reenen. Article in CentrePiece Volume 10, Issue 2, Summer 2005

Related links
Nicholas Bloom webpage
Christos Genakos webpage
Raffaella Sadun webpage
John Van Reenen webpage
Growth Programme webpage

News Posted: 28/08/2016      [Back to the Top]

Dagsavisen - Nyemeninger (Norway)

Do we need more goals for society than economic growth?

Therefore, among others, economics professor Richard Layard of the London School of Economics urged to measure citizens' quality of life. OECD har i den såkalte «Bedre liv-indeksen» utarbeidet indikatorer på en rekke områder fra sysselsetting og bolig til frivillig aktivitetsliv og miljø, for å forsøke å måle livskvalitet i ulike land. OECD in the so-called "better life index" compiled indicators on a range of areas from employment and housing to volunteer aktivitetsliv and environment, in an attempt to measure quality of life in different countries. KrF fremmet forslag i Stortinget i 2009 om at også Norge burde gjøre dette. KrF proposed in Parliament in 2009 that also Norway should do this. Dette har resultert i en omtale av livskvalitetsindikatorer i Nasjonalbudsjettet. This has resulted in a review of quality of life indicators in the National Budget.

This article appeared on Dagsavisen - Nyemeninger (Norway) on 26 August 2016 Link to article

Related links
Richard Layard webpage
Wellbeing Programme webpage
News Posted: 26/08/2016      [Back to the Top]

Dagsavisen - Nyemeninger (Norway)

Do we need more goals for society than economic growth?

Therefore, among others, economics professor Richard Layard of the London School of Economics urged to measure citizens' quality of life. OECD har i den såkalte «Bedre liv-indeksen» utarbeidet indikatorer på en rekke områder fra sysselsetting og bolig til frivillig aktivitetsliv og miljø, for å forsøke å måle livskvalitet i ulike land. OECD in the so-called "better life index" compiled indicators on a range of areas from employment and housing to volunteer aktivitetsliv and environment, in an attempt to measure quality of life in different countries. KrF fremmet forslag i Stortinget i 2009 om at også Norge burde gjøre dette. KrF proposed in Parliament in 2009 that also Norway should do this. Dette har resultert i en omtale av livskvalitetsindikatorer i Nasjonalbudsjettet. This has resulted in a review of quality of life indicators in the National Budget.

This article appeared on Dagsavisen - Nyemeninger (Norway) on 26 August 2016 Link to article

Related links
Richard Layard webpage
Wellbeing Programme webpage
News Posted: 26/08/2016      [Back to the Top]

Dagsavisen - Nyemeninger (Norway)

Do we need more goals for society than economic growth?

Therefore, among others, economics professor Richard Layard of the London School of Economics urged to measure citizens' quality of life. OECD har i den såkalte «Bedre liv-indeksen» utarbeidet indikatorer på en rekke områder fra sysselsetting og bolig til frivillig aktivitetsliv og miljø, for å forsøke å måle livskvalitet i ulike land. OECD in the so-called "better life index" compiled indicators on a range of areas from employment and housing to volunteer aktivitetsliv and environment, in an attempt to measure quality of life in different countries. KrF fremmet forslag i Stortinget i 2009 om at også Norge burde gjøre dette. KrF proposed in Parliament in 2009 that also Norway should do this. Dette har resultert i en omtale av livskvalitetsindikatorer i Nasjonalbudsjettet. This has resulted in a review of quality of life indicators in the National Budget.

This article appeared on Dagsavisen - Nyemeninger (Norway) on 26 August 2016 Link to article

Related links
Richard Layard webpage
Wellbeing Programme webpage
News Posted: 26/08/2016      [Back to the Top]

Dagsavisen - Nyemeninger (Norway)

Do we need more goals for society than economic growth?

Therefore, among others, economics professor Richard Layard of the London School of Economics urged to measure citizens' quality of life. OECD har i den såkalte «Bedre liv-indeksen» utarbeidet indikatorer på en rekke områder fra sysselsetting og bolig til frivillig aktivitetsliv og miljø, for å forsøke å måle livskvalitet i ulike land. OECD in the so-called "better life index" compiled indicators on a range of areas from employment and housing to volunteer aktivitetsliv and environment, in an attempt to measure quality of life in different countries. KrF fremmet forslag i Stortinget i 2009 om at også Norge burde gjøre dette. KrF proposed in Parliament in 2009 that also Norway should do this. Dette har resultert i en omtale av livskvalitetsindikatorer i Nasjonalbudsjettet. This has resulted in a review of quality of life indicators in the National Budget.

This article appeared on Dagsavisen - Nyemeninger (Norway) on 26 August 2016 Link to article

Related links
Richard Layard webpage
Wellbeing Programme webpage
News Posted: 26/08/2016      [Back to the Top]

Dagsavisen - Nyemeninger (Norway)

Do we need more goals for society than economic growth?

Therefore, among others, economics professor Richard Layard of the London School of Economics urged to measure citizens' quality of life. OECD har i den såkalte «Bedre liv-indeksen» utarbeidet indikatorer på en rekke områder fra sysselsetting og bolig til frivillig aktivitetsliv og miljø, for å forsøke å måle livskvalitet i ulike land. OECD in the so-called "better life index" compiled indicators on a range of areas from employment and housing to volunteer aktivitetsliv and environment, in an attempt to measure quality of life in different countries. KrF fremmet forslag i Stortinget i 2009 om at også Norge burde gjøre dette. KrF proposed in Parliament in 2009 that also Norway should do this. Dette har resultert i en omtale av livskvalitetsindikatorer i Nasjonalbudsjettet. This has resulted in a review of quality of life indicators in the National Budget.

This article appeared on Dagsavisen - Nyemeninger (Norway) on 26 August 2016 Link to article

Related links
Richard Layard webpage
Wellbeing Programme webpage
News Posted: 26/08/2016      [Back to the Top]

The Scottish Daily Record

Scottish Government warns on Brexit cost

The Scottish Government estimates the impact of Brexit would be the equivalent of reducing the Scottish Government budget by between six and 13 per cent. The briefing paper figures are drawn from studies previously published by the London School of Economics' Centre for Economic Performance, HM Treasury, the National Institute of Economic and Social Research, PwC and the Organisation for Economic Co-operation and Development.

This article appeared in the Scottish Daily Record on 24 August 2016. Link to article

Related publications
See the complete set of CEP Brexit Analysis research papers here .

Related links
Swati Dhingra webpage
Hanwei Huang webpage
Gianmarco Ottaviano webpage
Thomas Sampson webpage
John Van Reenen webpage
Trade Programme webpage
Growth Programme webpage

News Posted: 24/08/2016      [Back to the Top]

The Financial Times.com

Are universities worth it?

So the case for building more universities needs to rest on more prosaic grounds. A recent research paper by Anna Valero and John Van Reenen of the LSE takes a statistical look at universities around the world, asking whether they seem to boost their regional economies.

This article appeared in the Financial Times.com on 24 August 2016. Link to article

Related article
Growth multiplier: how university expansion increases national income, Anna Valero and John Van Reenen, LSE British Politics and Policy blog, March 24, 2016

Related publications
The Economic Impact of Universities: Evidence from Across the Globe, Anna Valero and John Van Reenen, Centre for Economic Performance Discussion Paper No.1444, August 2016

Related links
Anna Valero webpage
John Van Reenen webpage
Growth Programme webpage


News Posted: 24/08/2016      [Back to the Top]

Accuracy in Academia

Do colleges + universities = economic growth?

''We estimate fixed effects models at the sub-national level between 1950 and 2010 and find that increases in the number of universities are positively associated with future growth of GDP per capita (and this relationship is robust to controlling for a host of observables, as well as unobserved regional trends),'' Anna Valero and John Van Reenen, of the London School of Economics, write in a working paper that they published this month at the National Bureau of Economic Research (NBER). NBER is housed at Harvard

This article was published online by Accuracy in Academia on August 23, 2016
Link to article here

Related article
Growth multiplier: how university expansion increases national income, Anna Valero and John Van Reenen, LSE British Politics and Policy blog, March 24, 2016
The Economic Impact of Universities: Evidence from Across the Globe, Anna Valero and John Van Reenen, Centre for Economic Performance Discussion Paper No.1444, August 2016

Related links
Anna Valero webpage
John Van Reenen webpage
Growth Programme webpage


News Posted: 23/08/2016      [Back to the Top]

The Australian

Unis pay off with GDP lift: study

“We estimate the economic benefits of university expansion are likely to exceed their costs,” said the study’s authors, Anna Valero and John Van Reenen. The researchers developed a new dataset on the location of universities in 1500 regions and found higher university density was associated with higher GDP per capita. The “university effect” on economic growth worked through key channels including increased supply of human capital and raising innovation, the study says.

This article appeared in The Australian on 23 August 2016 Link to article

Related article
Growth multiplier: how university expansion increases national income, Anna Valero and John Van Reenen, LSE British Politics and Policy blog, March 24, 2016

Related links
Anna Valero webpage
John Van Reenen webpage
Growth Programme webpage
News Posted: 23/08/2016      [Back to the Top]

Financial Times

Scotland warns of £11bn cost of Brexit by 2030

Brexit will be deeply damanging to Scotland's economy, warns Nicola Sturgeon.
...by the Treasury, the National Institute of Economic and Social Research and the London School of Economics' Centre for Economic Performance.

This article was published by the Financial Times on August 23, 2016
Link to article here

Also in
August 23, 2016
South Wales Argus
Brexit 'to cost Scottish economy £11.2bn a year'

Related publications
See the complete CEP Brexit Analysis Series here

Related links
John Van Reenen webpage
Growth Programme webpage

News Posted: 23/08/2016      [Back to the Top]

Bloomberg View

The age of the never-ending performance review

For the past decade, Stanford economist Nicholas Bloom and a rotating crew of co-authors (most consistently MIT's John Van Reenen) have been documenting that the management best practices developed at high-performing companies and consulting firms and taught at business schools really do make companies more productive and profitable - and that HR practices that effectively identify and reward the most-productive workers are a big part of what separates successful companies from the rest.

This article was published by Bloomberg View on August 22, 2016
Link to article here

Related publications
Management Practices Across Firms and Countries, Nicholas Bloom, Christos Genakos, Raffaella Sadun and John Van Reenen, Centre for Economic Performance Discussion Paper No.1109, December 2011
Management Practices: the impact on company performance, Nicholas Bloom, Stephen Dorgan, John Dowdy, Tom Rippin and John Van Reenen. Article in CentrePiece Volume 10, Issue 2, Summer 2005

Related links
Nicholas Bloom webpage
Christos Genakos webpage
Raffaella Sadun webpage
John Van Reenen webpage
Growth Programme webpage


News Posted: 22/08/2016      [Back to the Top]

Bloomberg View

Another reason to cheer for local U

Most of the work on the value of college has focused on whether the return is worth the student's considerable investment. (Thus far, the yeas still have it.) But more and more research lately has asked whether colleges and universities, by their very existence, add value to society. It now seems clear that the answer is yes. They add value, and the value they add is quantifiable. That is the conclusion of a working paper released this week. The assessment, by Anna Valero and John Van Reenen of the London School of Economics, used a dataset of 15,000 universities in 1,500 regions across 78 countries to study what they call ''the university effect.''

This article was published online by Bloomberg View on August 19, 2016
Link to article here

Related article
Growth multiplier: how university expansion increases national income, Anna Valero and John Van Reenen, LSE British Politics and Policy blog, March 24, 2016

Related publications
The Economic Impact of Universities: Evidence from Across the Globe, Anna Valero and John Van Reenen, Centre for Economic Performance Discussion Paper No.1444, August 2016

Related links
Anna Valero webpage
John Van Reenen webpage
Growth Programme webpage


News Posted: 19/08/2016      [Back to the Top]

The Financial Times

Graduates still benefit from 'wage premium'

John Van Reenen, professor of economics at Massachusetts Institute of Technology, agreed. ''The natural explanation of the stable college premium is that the rise in the supply of graduates has been balanced by an increase in demand,'' he said.

This article was published by The Financial Times on August 18, 2016
Link to article here

Related Links
John Van Reenen webpage
Growth Programme webpage


News Posted: 18/08/2016      [Back to the Top]

The Times

The migration system isn't broken, so there's no need for a brake

More jobs but lower living standards: that's been how most people have experienced Britain's economic performance since the financial crisis. ... The London School of Economics' Centre for Economic Performance has referred to it as the longest sustained fall in average pay since the 1930s. Average real wages fell by 10 per cent between 2007 and 2015.

This comment article was published online by The Times on August 18, 2016
Link to article here

Related article
The aftermath of the Brexit vote - the verdict from a derided expert, John Van Reenen, LSE British Politics and Policy blog, August 2, 2016

Related links
John Van Reenen webpage
Growth Programme webpage


News Posted: 18/08/2016      [Back to the Top]

Viet Q.vn (Vietnam)

Tang nang suat lao dong len 800% voi robot naha kho cua My

The likely Locus of search robots and packaging of 25 thousand square meter warehouse helps to increase the productivity of the warehouse up to 800 percent.
A previous study of Georg Graetz scientists and Guy Michaels (UK) shows, the robot had much contribution to the increase in labour productivity. Conducted survey of 14 production-mainly in the industrial sector-in 17 countries (including the United States, 14 countries in Europe, South Korea and Australia) in the years 1993-2007, the research team discovered the density using the robot for the hours of work of all of these countries have increased 150 percent.

This article was published online by VietQ.vn on August 16, 2016
Link to article here

Related publications
Robots at work: the impact on productivity and jobs, Georg Graetz and Guy Michaels. Article in CentrePiece, Volume 20, Issue 1 Summer 2015
Robots at Work, Georg Graetz and Guy Michaels, Centre for Economic Performance Discussion Paper No.1335, March 2015

Related Links
Georg Graetz webpage
Guy Michaels webpage
Labour Markets Programme webpage


News Posted: 16/08/2016      [Back to the Top]

Viet Q.vn (Vietnam)

Tang nang suat lao dong len 800% voi robot naha kho cua My

The likely Locus of search robots and packaging of 25 thousand square meter warehouse helps to increase the productivity of the warehouse up to 800 percent.
A previous study of Georg Graetz scientists and Guy Michaels (UK) shows, the robot had much contribution to the increase in labour productivity. Conducted survey of 14 production-mainly in the industrial sector-in 17 countries (including the United States, 14 countries in Europe, South Korea and Australia) in the years 1993-2007, the research team discovered the density using the robot for the hours of work of all of these countries have increased 150 percent.

This article was published online by VietQ.vn on August 16, 2016
Link to article here

Related publications
Robots at work: the impact on productivity and jobs, Georg Graetz and Guy Michaels. Article in CentrePiece, Volume 20, Issue 1 Summer 2015
Robots at Work, Georg Graetz and Guy Michaels, Centre for Economic Performance Discussion Paper No.1335, March 2015

Related Links
Georg Graetz webpage
Guy Michaels webpage
Labour Markets Programme webpage


News Posted: 16/08/2016      [Back to the Top]

Viet Q.vn (Vietnam)

Tang nang suat lao dong len 800% voi robot naha kho cua My

The likely Locus of search robots and packaging of 25 thousand square meter warehouse helps to increase the productivity of the warehouse up to 800 percent.
A previous study of Georg Graetz scientists and Guy Michaels (UK) shows, the robot had much contribution to the increase in labour productivity. Conducted survey of 14 production-mainly in the industrial sector-in 17 countries (including the United States, 14 countries in Europe, South Korea and Australia) in the years 1993-2007, the research team discovered the density using the robot for the hours of work of all of these countries have increased 150 percent.

This article was published online by VietQ.vn on August 16, 2016
Link to article here

Related publications
Robots at work: the impact on productivity and jobs, Georg Graetz and Guy Michaels. Article in CentrePiece, Volume 20, Issue 1 Summer 2015
Robots at Work, Georg Graetz and Guy Michaels, Centre for Economic Performance Discussion Paper No.1335, March 2015

Related Links
Georg Graetz webpage
Guy Michaels webpage
Labour Markets Programme webpage


News Posted: 16/08/2016      [Back to the Top]

Viet Q.vn (Vietnam)

Tang nang suat lao dong len 800% voi robot naha kho cua My

The likely Locus of search robots and packaging of 25 thousand square meter warehouse helps to increase the productivity of the warehouse up to 800 percent.
A previous study of Georg Graetz scientists and Guy Michaels (UK) shows, the robot had much contribution to the increase in labour productivity. Conducted survey of 14 production-mainly in the industrial sector-in 17 countries (including the United States, 14 countries in Europe, South Korea and Australia) in the years 1993-2007, the research team discovered the density using the robot for the hours of work of all of these countries have increased 150 percent.

This article was published online by VietQ.vn on August 16, 2016
Link to article here

Related publications
Robots at work: the impact on productivity and jobs, Georg Graetz and Guy Michaels. Article in CentrePiece, Volume 20, Issue 1 Summer 2015
Robots at Work, Georg Graetz and Guy Michaels, Centre for Economic Performance Discussion Paper No.1335, March 2015

Related Links
Georg Graetz webpage
Guy Michaels webpage
Labour Markets Programme webpage


News Posted: 16/08/2016      [Back to the Top]

Money Marketing

Gregg McClymont: What does Brexit mean for UK pensions?

Beyond the territorial politics, Brexit has brought to the boil a long simmering tension between the UK's economic and political imperatives. The importance to the UK economy of the single European market in goods and services is clear. Economists do not agree about much, so the extent of their unanimity about the benefits of free trade is striking. The LSE's Centre for Economic Performance is typical, calculating that loss of the benefits of comparative advantage and competitive pressures via the single market have a direct cost amounting to 1.37 per cent to 2.92 per cent of UK living standards. Less trade means lower productivity, and weak productivity growth has been the UK's great macro weakness for half a century (the much reviled French economy's productivity is 30 per cent higher).

This article was published online by Money Marketing on August 15, 2016
Link to article here

Related publications
The complete series of Brexit Papers are available online here

Related links
Swati Dhingra webpage
Gianmarco Ottaviano webpage
Thomas Sampson webpage
John Van Reenen webpage
Trade Programme webpage
Growth Programme webpage


News Posted: 15/08/2016      [Back to the Top]

In Facts

Brexiteers try to wriggle out of blame for economic slowdown

Throughout the referendum campaign, experts raised serious, well-founded concerns about the potential for Brexit to cause serious economic harm. These went unanswered, because the Leave camp had no answers to offer. Instead, they were met with smears. This tactic won the Brexiteers the campaign, but Professor John Van Reenen - director of the Centre for Economic Performance at the LSE - says that silencing economists won't fix a thing now:
''The Telegraph's absurd claim is the Bank is totally wrong and that all will be simply spiffing if only all those pesky economists stopped telling the truth about how high uncertainty, less trade and lower foreign investment are bad for the national wealth.< As predicted, things are getting worse. And also as predicted, Brexiteers will blame the Remain campaign for causing the harm they themselves have inflicted on the British people.''

This article was published online by the InFacts blog on August 10, 2016
Link to article here

Related publications
See the complete set of CEP Brexit Analysis research papers here

Related links
John Van Reenen webpage
Growth Programme webpage


News Posted: 10/08/2016      [Back to the Top]

Independent

Brexit: Economists put cost of UK losing European Union single market membership at £75bn

The IFS estimate that single market membership could be worth 4 per cent of GDP by 2030 - or £75bn in today's money
But the IFS estimates that retaining single market membership could be potentially worth 4 per cent of GDP permanently to the UK economy relative to WTO terms by 2030 - equal to two full years of trend growth. They based this figure on long-term estimates from other forecasting organisations such as the London School of Economic's Centre for Economic Performance and the National Institute for Economic and Social Research (NIESR) of the long-term negative impact of Brexit on UK growth.

This article was published online by the Independent on August 9, 2016
Link to article here

Also in
August 10, 2016
The Times of India
Brexit: Economists put cost of UK losing European Union singe market membership at £75bn

Related publications
The complete series of Brexit Papers are available online here

Related links
Swati Dhingra webpage
Hanwei Huang webpage
Gianmarco Ottaviano webpage
Thomas Sampson webpage
John Van Reenen webpage
Trade Programme webpage
Growth Programme webpage


News Posted: 09/08/2016      [Back to the Top]

Naked Capitalism

How CEOs get paid for luck

By Brian Bell, Associate Professor, Department of Economics, and John Van Reenen Director of the Centre for Economic Performance and Professor of Economics at the London School of Economics. Originally published at VoxEU
Lacklustre growth seems to be the new normal almost everywhere in the world except for one area - the pay of chief executive officers (CEOs). For S&P500 firms, the average CEO made 31 times the wage of the average production worker in 1970, but this rose to 325 by 2008 (Conyon et al. 2011) and 335 by 2015. This has not gone unnoticed by politicians and the media. CEO pay could have risen purely through market forces. For example, globalisation and technological change enables a CEO to leverage his ability (it is rarely ''her'') over a larger scale. As the size of firms increases, so does CEO pay (e.g. Gabaix and Landier 2008). But other factors may also play an important role, as attested by many corporate governance scandals. And why does CEO pay rise when firm performance does not, or when firms do well for reasons unrelated to the talent or effort of the CEO (for example, in a stock market bubble or oil price boom)?

This article was published online by Naked Capitalism on August 8, 2016
Link to article here

Related article
August 5, 2016
Vox
CEO pay and the rise of relative performance contracts: The role of governance, Brian Bell and John Van Reenen.

Related publications
CEO Pay and the Rise of Relative Performance: A question of governance?, Brian Bell and John Van Reenen, Centre for Economic Performance Discussion Paper No. 1439, July 2016.

Related links
Brian Bell webpage
John Van Reenen webpage
Growth Programme webpage


News Posted: 08/08/2016      [Back to the Top]

Vox

CEO pay and the rise of relative performance contracts: the role of governance

Article by Brian Bell and John Van Reenen
Lacklustre growth seems to be the new normal almost everywhere in the world except for one area - CEO pay. This column uses data on UK publicly listed firms to examine whether weak governance leads to pay rises for CEOs that are not justified by performance. CEO pay asymmetry - pay responding more to increases in firm performance than to decreases - appears to occur mainly in firms with a low share of institutional owners able to exert external control. CEOs at such firms are also more likely to be paid for 'luck', with pay rises rewarding random positive shocks unrelated to performance.

This article was published online by the Vox blog on August 5, 2016
Link to article here

Related publications
CEO Pay and the Rise of Relative Performance: A question of governance?, Brian Bell and John Van Reenen, Centre for Economic Performance Discussion Paper No. 1439, July 2016

Related links
Brian Bell webpage
John Van Reenen webpage
Growth Programme webpage

News Posted: 05/08/2016      [Back to the Top]

Geopolitical Monitor

Flash: Brexit in more concrete economic terms

The reputed Centre for Economic Performance at LSE has long been studying the potential impact of the United Kingdom leaving the European Union, and just this last week it published its latest report. This report focuses on the impacts of Brexit via its disruption of trade flows, and it contains some hard numbers that will make even the most determined Leaver's blood run cold.

This article was published online by Geopolitical Monitor on August 5, 2016
Link to article here. Subscription needed for full access.

Related publications
The complete set of CEP Brexit Analysis papers is available in one publication. Download from here.

Related links
Swati Dhingra webpage
Thomas Sampson webpage
Gianmarco Ottaviano webpage
John Van Reenen webpage
Growth Programme webpage
Trade Programme webpage


News Posted: 05/08/2016      [Back to the Top]

Simon Radford blog

Three to read

Three short paragraphs to explain the Brexit vote:
The British people have suffered tremendously since the financial crisis. The real wages of the average person fell by about 10 per cent between 2007 and 2015. This is not about inequality - poor, middle and rich have all lost out. It has been the longest sustained fall in average pay since the Great Depression and it has made people very angry with the establishment - and rightly so. As LSE's Professor Stephen Machin, the new Director of the Centre for Economic Performance has shown, the areas with the biggest falls in average wages were the places most likely to vote for Brexit.

This article was published online on the Simon Radford blog on August 4, 2016
Link to article here

Related articles
Financial Times on June 23, 2016
UK areas with stagnant wages are most anti-EU

Related publications
Brexit and Wage Inequality, Brian Bell and Stephen Machin, CEP Brexit Blog, July 2016

Related links
Brian Bell webpage
Stephen Machin webpage
Growth Programme webpage
Labour Markets Programme webpage


News Posted: 04/08/2016      [Back to the Top]

The Independent

Brexit: Top economist reveals what he thinks will happen next after the EU referendum vote

John Van Reenen of the London School of Econimics forecast costs of Brexit before vote was held
One of the UK's top economists has issued a stark warning about the possible economic and social implications of Brexit for Europe. Work from before the referendum by Professor John Van Reenen, professor of economics at LSE and director of the university's Centre for Economic Performance, laid out the likely long-term economic costs of Britain leaving the European Union.

This article was published by the Independent on August 4, 2016
Link to article here

Related publications
The complete series of Brexit Papers are available online here

Related links
John Van Reenen webpage
Growth Programme webpage


News Posted: 04/08/2016      [Back to the Top]

LSE European Politics and Policy blog

The aftermath of the Brexit vote – the verdict from a derided expert

John Van Reenen was disappointed but not surprised by the UK's vote to Leave the EU. Whilst his own research predicts serious economic and political damage in the case of Brexit, he thought a Leave vote was a real possibility ever since David Cameron committed to a vote in 2013. In his last post as Director of LSE's Centre for Economic Performance, he gives his verdict on the campaigns, the media, politicians, and being a derided expert.

This article was published online by the LSE European Politics and Policy (EUROPP) blog on August 3, 2016
Link to article here

Related publications
The complete set of CEP Brexit Analysis papers is available in one publication. Download from here.

Related links
John Van Reenen webpage
Growth Programme webpage


News Posted: 03/08/2016      [Back to the Top]

LSE Business Review

Are academic economists out of touch with voters and politicians?

A new CFM survey discusses the implications of Brexit for the economics profession, write Wouter Den Haan, Ethan Ilzetzki, Martin Ellison and Michael McMahon
Before the referendum, there was near unanimity in the profession on the negative economic consequences of a vote for Brexit. There are obviously many aspects that matter besides economic arguments and the outcomes of elections and referenda are typically not easy to understand. But some have argued that neither the economic arguments nor the sureness of economists' views reached voters and policy-makers. Paul Johnson, who is director of the Institute for Fiscal Studies (IFS), argues that the profession itself is responsible for these failings. He gives three reasons:
  • First, the profession has failed to communicate basic economic concepts. In terms of arguments relevant to the Brexit referendum, he mentions the mistaken beliefs that a fall in the exchange rate will make UK citizens richer and that there is a fixed number of jobs in the economy.
  • Second, he points out that there is a 'collective lack of speed, agility and focus on issues of overwhelming importance.'
  • Third, there is a lack of leadership. In particular, the communication of economists' views is left to individuals and institutes such as the IFS, the Centre for Economic Performance (CEP), the Centre for Macroeconomics (CFM) and the National Institute of Economic and Social Research (NIESR).

This article was published online by the LSE Business Review on August 3, 2016
Link to article here

Related links
The Centre for Economic Performance website
CEP Brexit Analysis Series can be seen here
News Posted: 03/08/2016      [Back to the Top]

InDaily.com.au (Australia)

Unions should evolve to reflect enterprise

Professor Saul Estrin of the London School of Economics has shown, for example, that an increase in the level of employee participation in the running of an enterprise from zero to full participation increases output by 12 per cent, on average. His review of the evidence suggests that increased employee participation in profits, in shares or in decision-making is typically associated with improved industrial relations and organisational efficiency, higher productivity and greater profitability. His own research finds that employment (holding wages constant) is 13 per cent greater in profit-sharing firms because of productivity improvements.

This article was published online by InDaily.com.au (Australia) on August 2, 2016
Link to article here

Related links
Saul Estrin webpage
Growth Programme webpage


News Posted: 02/08/2016      [Back to the Top]

LSE British Politics and Policy blog

The aftermath of the Brexit vote - the verdict from a derided expert

John Van Reenen was disappointed but not surprised by the UK's vote to Leave the EU. Whilst his own research predicts serious economic and political damage in the case of Brexit, he thought a Leave vote was a real possibility ever since David Cameron committed to a vote in 2013. In his last post as Director of LSE's Centre for Economic Performance, he gives his verdict on the campaigns, the media, politicians, and being a derided expert.

There are multiple reasons for the Brexit vote, but by far the most important one can be summarised in a single word: immigration. In the last few weeks before the vote, the Leave campaign was ruthless in focusing on our fears of foreigners. Sadly, with the exception of London, this has been shown time and time again to be a great vote winner all over the world. The British people have suffered tremendously since the financial crisis. The real wages of the average person fell by about 10 per cent between 2007 and 2015. This is not about inequality - poor, middle and rich have all lost out. It has been the longest sustained fall in average pay since the Great Depression and it has made people very angry with the establishment - and rightly so. As LSE's Professor Stephen Machin, the new Director of the Centre for Economic Performance has shown, the areas with the biggest falls in average wages were the places most likely to vote for Brexit.

This article was published by the LSE British Politics and Policy blog on August 2, 2016
Link to article here

Related publications
The complete set of CEP Brexit Analysis papers is available in one publication. Download from here.

Related links
John Van Reenen webpage
Growth Programme webpage


News Posted: 02/08/2016      [Back to the Top]

Vox

A new eBook: Brexit beckons

The 23 June 2016 Brexit vote saw British voters reject membership in the European Union. This column introduces a new VoxEU eBook containing 19 essays written by leading economists on a wide array of topics and from a broad range of perspectives.

Trade Policy
The challenges can be useful slotted into three categories:

  • Reconstructing UK-EU trade relations;
  • Disentangling the UK's and the EU's WTO memberships; and
  • Reconstituting the EU's trade agreements with third nations.

  • The first is by far the most important economically, since something over half of the UK's trade in goods and services is with the EU, and the same is true of the UK's foreign investments.
    The chapters by Angus Armstrong, Swati Dhingra and Thomas Sampson, Jim Rollo and Alan Winter, Nicolas Crafts, and Simon Evenett all address various aspects of these three challenges.

    Labour Issues
    The chapters by Jonathan Portes, Brian Bell and Stephen Machin, and Barbara Petrongolo take a look at labour market issues raised by Brexit. ... Bell and Machin show that areas with relatively low median wages were substantially more likely to vote Leave, and discuss the likely implications of Brexit for wage inequality in the future. Petrongolo argues that immigration has had a positive impact on net fiscal receipts without hurting the labour market prospects of UK-born workers, who are therefore unlikely to benefit from any restrictions imposed on immigration from the EU.

    This article was published online by the Vox on August 1, 2016
    Link to article here

    Related publications
    Life after Brexit : What are the UK's options outside the European Union?, Swati Dhingra and Thomas Sampson, CEP Brexit Analysis Series Paper No.01, February 2016
    The complete set of CEP Brexit Analysis papers is available in one publication. Download from here.
    Brexit and Wage Inequality, Brian Bell and Stephen Machin, CEP Brexit Blog, July 2016

    Related links
    Swati Dhingra webpage
    Thomas Sampson webpage
    Trade Programme webpage

    Brian Bell webpage
    Growth Programme webpage

    Stephen Machin webpage
    Barbara Petrongolo webpage
    Labour Markets Programme webpage


    News Posted: 01/08/2016      [Back to the Top]

    The Economist

    The impact of free trade: Collateral damage

    However, mounting evidence suggests that the gains from free trade are not shared equally. A body of research on the American economy shows that import competition from poor countries can depress the incomes of the low skilled, at least in the short run, says John Van Reenen of the London School of Economics (LSE). One paper concluded that competition from Chinese imports explains 44% of the decline in employment in manufacturing in America between 1990 and 2007. Britain's economy is about twice as exposed to foreign trade as America's. After averaging around 1% of GDP for half a century, Britain's trade deficit in goods soared from the year 2000 and is now about 7% of GDP. China's accession to the World Trade Organisation in 2001 played an important part in this. Britain's growing appetite for imported goods coincided with a collapse in manufacturing employment. Formal studies back up the circumstantial evidence. Joao Paulo Pessoa of the LSE looked at the period 2000-07 and found that British workers in industries that suffered from high levels of import exposure to Chinese products earned less and spent more time out of employment than those in other industries. As people fare badly in the labour market, social problems arise: another study found that a one standard-deviation increase in import competition worsened rates of mental illness by 1.2 percentage points.

    This article was published in The Economist on July 30, 2016
    Link to article here

    Related publications
    China shock: the impact on trade and incomes, Joao Paulo Pessoa. Article in CentrePiece Volume 21, Issue 1, Summer 2016
    International Competition and Labor Market Adjustment, Joao Paulo Pessoa, Centre for Economic Performance Discussion Paper No. 1411, March 2016

    Related links
    Joao Paulo Pessoa webpage
    John Van Reenen webpage
    Growth Programme webpage


    News Posted: 30/07/2016      [Back to the Top]

    La Tribune

    Le poids des émotions dans l'économie

    What is contraction that leads to uncertainty, or the opposite?
    Last year, as part of a working paper, the economists Scott R. Baker, Nicholas Bloom and Steven J. Davis built a rate of economic uncertainty (UPR, Economic Policy Uncertainty) from the digital archives of newspapers from twelve countries (Canada, China, France, Germany, India, Italy, Japan, Russia, South Korea, Spain, United Kingdom and USA).

    This article was published online by La Tribune (France) on July 29, 2016
    Link to article here

    Related Publications
    Measuring Economic Policy Uncertainty, Scott R. Baker, Nicholas Bloom and Steven J. Davis, Centre for Economic Performance Discussion Paper No.1379, October 2015
    Fluctuations in Uncertainty, Nicholas Bloom, Journal of Economic Perspectives, Volume 28, No.2, Spring 2014
    Fluctuations in Uncertainty, Nicholas Bloom, Centre for Economic Performance Occasional Paper No.38, December 2013

    Related links
    Nicholas Bloom webpage
    Growth Programme webpage


    News Posted: 29/07/2016      [Back to the Top]

    VideoVox

    A 'Norway Temp' Deal

    What will the arrangement with the EU be? In this video, Swati Dhingra discusses introducing a temporary Norway-like deal. This video is part of the ''Econ after Brexit'' series organised by CEPR and was recorded on 14 July 2016.

    The interview was uploaded to view via CEPR Video Vox on July 29, 2016
    View video here

    Related publications
    Life after Brexit : What are the UK's options outside the European Union?, Swati Dhingra and Thomas Sampson, CEP Brexit Analysis Series Paper No.01, February 2016

    Related links
    Swati Dhingra webpage
    Trade Programme webpage


    News Posted: 29/07/2016      [Back to the Top]

    Farming UK

    Will Brexit hit Northern Ireland farmers hardest?

    Professor Curran said said non-tariff barriers could raise costs for NI farmers by between 2% and 4% and a recent study by the Centre for Economic Performance (CEP) found that a 2% increase in non-tariff barriers could actually reduce the North's GDP by 1.4% in the long-run. That is if border and custom controls are re-introduced.

    This article was published online by UK Farming on July 27, 2016
    Link to article here

    Related publications
    See the complete set of CEP Brexit Analysis research papers here

    Related links
    Swati Dhingra webpage
    Holger Breinlich webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 27/07/2016      [Back to the Top]

    The Irish Examiner

    Northern farmers 'hardest hit' by Brexit fallout

    Professor Michael Curran, an economist at Villanova University in Pennsylvania, said that while the UK's decision to leave the EU was ''unambiguously bad'' for Ireland and the UK as a whole, Northern Ireland would be hardest hit. ... Prof Curran also warned that the potential reintroduction of border and custom controls would significantly dent Northern Ireland's GDP: ''Some research has shown... that just these non-tariff barriers could raise costs for NI farmers by between 2% and 4% and a recent study by the Centre for Economic Performance (CEP) found that a 2% increase in non-tariff barriers could actually reduce [the North's] GDP by 1.4% in the long-run.''

    This article was published online by The Irish Examiner on July 27, 2016
    Link to article here

    Related publications
    The complete series of Brexit Papers are available online here

    Related links
    Holger Breinlich webpage
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 27/07/2016      [Back to the Top]

    Independent

    It turns out that companies don't do better when bosses have very high pay - but this will have to change after Brexit

    Brian Bell and John Van Reenen of the London School of Economics' Centre for Economic Performance have carried out a similar exercise looking at top bosses' pay at 500 large listed UK companies between 1999 and 2014. Unlike in the MSCI study, the two researchers did find that executive pay was correlated with stock market performance over the period.

    This article was published online by the Independent on July 27, 2016
    Link to article here

    Related publications
    Bankers and their bonuses, Brian Bell and John Van Reenen, Centre for Economic Performance Occasional Paper No.35, February 2013
    Extreme Wage Inequality: Pay at the Very Top, Brian Bell and John Van Reenen, Centre for Economic Performance Occasional Paper No.34, February 2013

    Related links
    Brian Bell webpage
    John Van Reenen webpage
    Growth Programme webpage


    News Posted: 27/07/2016      [Back to the Top]

    The Independent

    European migrants are not just paying their way, they're paying our way too

    When politicians speak of a need to 'control' EU immigration, we should be asking why. The evidence shows that free movement of people is working for all of us.
    But the available evidence suggests the overall impact of EU migration is beneficial to the UK. EU migrants are more likely to be in work than UK nationals. And, according tot he UCL Centre for REsearch and Analysis of Migration, EU migrants provide a net economic benefit of £22bn. As the LSE Centre for Economic Performance notes, ''this effects may seem small, [but] in the longer-run impact could be substantial''.

    This article was published by The Independent on July 24, 2016
    Link to article here

    Related publications
    Brexit and the Impact of Immigration on the UK, Swati Dhingra, Gianmarco Ottaviano, John Van Reenen and Jonathan Wadsworth, CEP Brexit Analysis Series Paper No.05, May 2016
    Technical Appendix to 'Brexit and the impact of immigration on the UK'

    Related links
    Jonathan Wadsworth webpage
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Labour Markets Programme webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 24/07/2016      [Back to the Top]

    MarketWatch.com

    Opinion: What's behind the global economy's 'hesitation blues'?

    A feedback cycle has businesses cautious on investment and consumers unwilling to spend
    In a 2015 working paper, the economists Scott R. Baker, Nicholas Bloom, and Steven J. Davis constructed Economic Policy Uncertainty (EPU) indices for a dozen countries using digital news archives. The indices (covering Canada, China, France, Germany, India, Italy, Japan, Russia, South Korea, Spain, the United Kingdom, and the United States) were created by counting the number of newspaper articles in each country and each month that had the trifecta of terms ''economy'' (E), ''policy'' (P) and ''uncertainty'' (U).

    This article was published online by MarketWatch on July 21, 2016
    Link to article here

    Related publications
    Measuring Economic Policy Uncertainty, Scott R. Baker, Nicholas Bloom and Steven J. Davis, Centre for Economic Performance Discussion Paper No.1379, October 2015

    Related links
    Nicholas Bloom webpage
    Growth Programme webpage


    News Posted: 21/07/2016      [Back to the Top]

    slugger o'toole blog

    Remain campaign a victim of its own left liberal conceits?

    A couple of thoughtful pieces to throw into the melee post-referendum. First Tim Harford in today's FT
    And to the idea that economists don't know what they are talking about (a new broadly held myth scaled up by the fact no one saw the crash coming), he has this to note: The Institute for Fiscal Studies is full of experts on tax and household income; the Centre for Economic Performance studies globalisation, technology and education. Blaming these people for not foreseeing the collapse of Lehman Brothers is like blaming a brain surgeon for the spread of obesity.

    This article was published online by slugger o'toole on July 20, 2016
    Link to article here

    Related publications
    See the whole series of CEP Brexit Analysis papers here

    Related links
    Swati Dhingra webpage
    Holger Breinlich webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 20/07/2016      [Back to the Top]

    The Economist

    Fear and favour

    The evidence is that foreign managers improve the companies they acquire
    A paper by Nick Bloom of Stanford University and others shows that the David Brents can learn from the Jack Welches: when they take over British firms, American multinationals bring better technology and practices, lifting productivity by up to 10%.

    This article was published by The Economist on July 20, 2016
    Link to article here

    Related publications
    Management Practices Across Firms and Countries, Nicholas Bloom, Christos Genakos, Raffaella Sadun and John Van Reenen, Centre for Economic Performance Discussion Paper No.1109, December 2011
    Management Practices: the impact on company performance, Nicholas Bloom, Stephen Dorgan, John Dowdy, Tom Rippin and John Van Reenen. Article in CentrePiece Volume 10, Issue 2, Summer 2005

    Related links
    Nicholas Bloom webpage
    Christos Genakos webpage
    Raffaella Sadun webpage
    John Van Reenen webpage
    Growth Programme webpage


    News Posted: 20/07/2016      [Back to the Top]

    TradingFloor.com

    From the floor: sterling on the ropes

    Ahead of the Brexit vote, the great transnational institutions that have come to, if not govern, then certainly guide the post-World War Two order were all out talking apocalypse. Britain will ''almost certainly'' be worse off post-Brexit, said the Institute for Fiscal Studies, the National Institute of Economic and Social Research, and the Centre for Economic Performance in a joint statement. ''A dark star, whose name is Wormwood, will fall to the rivers making the water bitter,'' said another institution whose exact name and acronym we can't recall. In any sense, the official line was Brexit=bad. But in the wake of the vote, it would appear that markets have been able to sustain the impact and are generally keeping calm and carrying on. Did the UK, financial reporters began to wonder in hushed terms, get away with it?

    This article was published online by Trading Floor on July 20, 2016
    Link to article here

    Related publications
    June 20, 2016
    CEP, NIESR and IFS blog
    Leaving the EU would almost certainly damage our economic prospects
    See the complete set of CEP Brexit Analysis research papers here

    Related links
    Swati Dhingra webpage
    Holger Breinlich webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 20/07/2016      [Back to the Top]

    The Financial Times

    Metropolitan myths that led to Brexit

    Finally, there is the low reputation of economists, the result of a global financial crisis that only a few in the profession warned us against. But the institutes that analysed the risks and rewards of Brexit can hardly be blamed for that. The Institute for Fiscal Studies is full of experts on tax and household income; the Centre for Economic Performance studies globalisation, technology and education. Blaming these people for not foreseeing the collapse of Lehman Brothers is like blaming a brain surgeon for the spread of obesity.

    This article was published by the Financial Times on July 20, 2016
    Link to article here

    Related publications
    See the complete set of CEP Brexit Analysis research papers here

    Related links
    Swati Dhingra webpage
    Holger Breinlich webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 20/07/2016      [Back to the Top]

    HIS Fairplay.com

    Uk Chamber of Shipping hears Brexit warning

    The UK Chamber needs to know the details because member shipowners gain their revenue from trade; however, Dr Swati Dhingra, lecturer at the Centre for Economic Performance at the London School of Economics, brought little good cheer. The overwhelming sentiment from economists, she observed, is that Brexit is negative for the country's economy, with forecasts of a decline in the UK's GDP of an optimistic 2% and a pessimistic 8% from current levels by 2030. There will also be a divergence of regulatory policy between the EU and UK, increased levels of border checks, and other unspecified administrative burdens.

    This article was published online by IHS Fairplay.com on July 19, 2016
    Link to article here

    Related publications
    Brexit: the impact on UK trade and living standards, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen. Article in CentrePiece Volume 21, Issue 1, Summer 2016
    The consequences of Brexit for UK trade and living standards, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis Series Paper No.02, March 2016
    See Technical Appendix to CEP Brexit Analysis Series Paper No.2 here

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 19/07/2016      [Back to the Top]

    Vox

    Wage inequality: The spatial dimension

    Article by Erling Barth, Alex Bryson, James Davis and Richard Freeman
    Income inequality has risen throughout the advanced world. Various explanations have been suggested for this, but these tend to focus on who you are. This column shifts the focus to where you work. Data from the US reveal that over the period 1992-2007, two-thirds of the rise in earnings dispersion was due to increased variation across establishments. Moreover, almost 80% of the increase in earnings dispersion among workers who remained at the same establishment from year to year was due to a widening of wages across establishments rather than within establishments.

    This article was published online by the Vox on July 18, 2016
    Link to article here

    Related publications
    It's Where You Work: Increases in Earnings Dispersion across Establishments and Individuals in the US, Erling Barth, Alex Bryson, James C. Davis and Richard Freeman, Centre for Economic Performance Discussion Paper No.1311, November 2014

    Related links
    Alex Bryson webpage
    Richard Freeman webpage
    Labour Markets Programme webpage


    News Posted: 18/07/2016      [Back to the Top]

    Oregon Business

    Merger Mania

    The largest analysis of hospital rates, published in December by Yale University and the London School of Economics, found that in cities with a single hospital chain, private insurance pays 15% more than in cities where at least four hospitals compete, after adjusting for differences between communities.

    This article appeared in Oregon Business on Merger Mania on 18 July 2016. Link to article

    Related publications
    The Price Ain't Right? Hospital Prices and Health Spending on the Privately Insured, Zack Cooper, Stuart Craig, Martin Gaynor and John Van Reenen, Centre for Economic Performance Discussion Paper No.1395, December 2015

    Related links
    Zack Cooper webpage
    John Van Reenen webpage
    Growth Programme webpage

    News Posted: 18/07/2016      [Back to the Top]

    Admin5.com (China)

    Artificial intelligence is bound to exacerbate inequalities but why are economists still for it platforms

    Artificial intelligence is bound to exacerbate inequalities but why are economists still for it platforms
    That is to say, technical parts of the economy made great contribution to productivity growth. In 2015 a 17-country study found that between 1993 and 2007, average annual GDP growth rate of the robot industry for these countries has contributed 0.4%, this time the national GDP growth rate of more than one-tenth (Graetz and Michaels 2015).

    This article was published online by Admin5.com (China) on July 16, 2016
    Link to article here

    Related publications
    Robots at work: the impact on productivity and jobs, Georg Graetz and Guy Michaels. Article in CentrePiece, Volume 20, Issue 1 Summer 2015
    Robots at Work, Georg Graetz and Guy Michaels, Centre for Economic Performance Discussion Paper No.1335, March 2015

    Related Links
    Georg Graetz webpage
    Guy Michaels webpage
    Labour Markets Programme webpage


    News Posted: 16/07/2016      [Back to the Top]

    Admin5.com (China)

    Artificial intelligence is bound to exacerbate inequalities but why are economists still for it platforms

    Artificial intelligence is bound to exacerbate inequalities but why are economists still for it platforms
    That is to say, technical parts of the economy made great contribution to productivity growth. In 2015 a 17-country study found that between 1993 and 2007, average annual GDP growth rate of the robot industry for these countries has contributed 0.4%, this time the national GDP growth rate of more than one-tenth (Graetz and Michaels 2015).

    This article was published online by Admin5.com (China) on July 16, 2016
    Link to article here

    Related publications
    Robots at work: the impact on productivity and jobs, Georg Graetz and Guy Michaels. Article in CentrePiece, Volume 20, Issue 1 Summer 2015
    Robots at Work, Georg Graetz and Guy Michaels, Centre for Economic Performance Discussion Paper No.1335, March 2015

    Related Links
    Georg Graetz webpage
    Guy Michaels webpage
    Labour Markets Programme webpage


    News Posted: 16/07/2016      [Back to the Top]

    Macro Business

    Company tax debate rages… in UK

    “I think there is this kind of confusion between wanting a competitive economy and saying the way we get it is reducing the rate of corporation tax. I think that is just a mistake” said John Van Reenen of the London School of Economics’ Centre for Economic Performance.

    This article appeared in Macro Business on 15 July 2016 Link to article

    Related Links
    John Van Reenen webpage
    Growth webpage

    News Posted: 15/07/2016      [Back to the Top]

    Vox

    Distribution and Inequality

    Wage inequality was partly behind the vote for Brexit. In this video, Brian Bell argues that the consequences of Brexit should be evaluated across the income distribution. This video is part of the ''Econ after Brexit'' series organised by CEPR and was recorded on 14 July 2016.

    This video was posted online by Vox on July 14, 2016
    Link to video here

    Related publications
    CEO Pay and the Rise of Relative Performance Contracts: A Question of Governance, Brian Bell and John Van Reenen, Centre for Economic Performance Discussion Paper No.1439, July 2016
    Minimum Wages and Firm Value, Brian Bell and Stephen Machin, Centre for Economic Performance Discussion Paper No.1404, January 2016

    Related links
    Brian Bell webpage
    Growth Programme webpage


    News Posted: 14/07/2016      [Back to the Top]

    IOL

    Brexit economists say Britain can still benefit

    The economic model used by Professor Minford to deliver his forecasts has been severely criticised by other analysts at the London School of Economics as being built on ideology, rather than facts. They argued, before the referendum result, that it ignored “basic facts” about international trade, such as that countries tend to trade more with geographically close countries and that the EU has created trade, rather than merely diverting it from elsewhere

    This article appeared on IOL on 14 July. Link to article

    Related publications
    See the complete set of CEP Brexit Analysis research papers here.

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage
    News Posted: 14/07/2016      [Back to the Top]

    IOL

    Brexit economists say Britain can still benefit

    The economic model used by Professor Minford to deliver his forecasts has been severely criticised by other analysts at the London School of Economics as being built on ideology, rather than facts. They argued, before the referendum result, that it ignored “basic facts” about international trade, such as that countries tend to trade more with geographically close countries and that the EU has created trade, rather than merely diverting it from elsewhere

    This article appeared on IOL on 14 July. Link to article

    Related publications
    See the complete set of CEP Brexit Analysis research papers here.

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage
    News Posted: 14/07/2016      [Back to the Top]

    Debuque Telegraph Herald (USA)

    Company that listed Dubuque as drunkest city now ranks it among healthiest

    ... University and the London-based Centre for Economic Performance. ''Health insurance coverage and ...

    This article was published by Dubuque Telegraph Herald (USA) on July 13, 2016
    Link to article here [Subscription needed for full access to article.]

    Related publications
    The Price Ain't Right? Hospital Prices and Health Spending on the Privately Insured, Zack Cooper, Stuart Craig, Martin Gaynor and John Van Reenen, Centre for Economic Performance Discussion Paper No.1395, December 2015

    Related links
    Zack Cooper webpage
    John Van Reenen webpage
    Growth Programme webpage


    News Posted: 13/07/2016      [Back to the Top]

    Business Day Live

    Are economists at fault for Brexit?

    John van Reenen, the outgoing director of the London School of Economics’s Centre for Economic Performance, doesn’t think the profession should be too down on itself. Had economists engaged more "in my frank view, it would not have made a jot of difference".

    This article appeared in Business Day Live on 13 July. Link to article

    Related Links
    John Van Reenen webpage
    Growth webpage
    News Posted: 13/07/2016      [Back to the Top]

    Huffington Post Canada

    Brexit demonstrates perils of unchecked globalisation

    Various analysis have shown that Brexit will adversely affect Britain's economy. According to the Centre for Economic Performance, LSE, Britain's economy will decrease by 1.3 per cent to 2.6 per cent without considering foreign investment, migration and reduced trade. When the long-run effects of Brexit on productivity are considered, the decline in income is forecast to be between 6.3 per cent and 9.5 per cent. PwC estimates that the decrease will be between 3.0 to 5.5 per cent in 2020. Also, Oxford Economics predicts that it will decrease by 0.1 per cent to 3.9 per cent.

    This article was published online by the Huffington Post Canada on July 12, 2016
    Link to article here

    Related publications
    Brexit: the impact on UK trade and living standards, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen. Article in CentrePiece Volume 21, Issue 1, Summer 2016
    The consequences of Brexit for UK trade and living standards, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis Series Paper No.02, March 2016
    See Technical Appendix to CEP Brexit Analysis Series Paper No.2 here

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 12/07/2016      [Back to the Top]

    Vox

    Gender gaps in performance among high-skilled professionals

    Article by Ghazala Azmat and Rosa Ferrer
    Gender gaps in earnings exist in high-skill industries despite male and female workers having similar educational backgrounds. This column uses evidence from the legal industry to assess how performance affects career outcomes across genders. Performance gaps, defined by hours billed and new revenue raised, explain a substantial share of the gender gaps in earnings, as women's working hours are affected by having young children while those of men are not. An important implication is that gender-based inequality in earnings and career outcomes might not decrease in the near future as more high-skilled workers are explicitly compensated based on performance.

    This article was published online by Vox (blog) on July 12, 2016
    Link to article here

    Related publications
    Gender gaps in performance, Ghazala Azmat and Rosa Ferrer. Article in CentrePiece Volume 17, Issue 2, Autumn 2012
    Gender Gaps in Performance: Evidence from Young Lawyers, Ghazala Azmat and Rosa Ferrer, Centre for Economic Performance Discussion Paper No.1136, October 2015 (revised from 2012)

    Related links
    Ghazala Azmat webpage
    Growth Programme webpage


    News Posted: 12/07/2016      [Back to the Top]

    Tim Harford - The Undercover Economist blog

    Did economists fail us over Brexit?

    You may have heard the jokes about economists equivocating and squabbling. Ronald Reagan had the best one, about an edition of Trivial Pursuit designed for economists: ''There are 100 questions, 3,000 answers.''

    John Van Reenen, the outgoing director of the LSE's Centre for Economic Performance, doesn't think the profession should be too down on itself. ''I'm proud of what we did'', he says, and had economists engaged more ''in my frank view, it would not have made a jot of difference.'' Van Reenen has a point; there is a limit to how much experts can achieve by simply presenting the facts.

    This article was published online via Tim Harford - The Undercover Economist blog on July 12, 2016
    Link to article here

    Related publications
    The complete set of papers published in the CEP Brexit Analysis Series can be seen herer

    Related links
    John Van Reenen webpage
    Growth Programme webpage


    News Posted: 12/07/2016      [Back to the Top]

    VOX

    The economics of Brexit: Pre-referendum videos and columns on VoxEU.org

    Two weeks ago, UK voters took the most important economic decision in a generation. The factual basis for this decision was - to say the least - not quite up to the nation's highest standards of evidence. ... The fragmented nature of this ''factual basis'' arose despite an impressive, if uncoordinated, effort by the economics profession to study the question. Particularly noteworthy were the various studies by the LSE's Centre for Economic Performance (e.g. Breinlich et al. 2016), the National Institute of Economic and Social Research (e.g. Baker et al. 2016), and the Centre for European Reform (e.g. Springford et al. 2016). And of course the Treasury produced several economic studies of the short- and long-run effects, the impact on public finances and on pensions.

    This article was published by the VOX blog on July 12, 2016
    Link to article here

    Related publications
    BREXIT 2016: Policy Analysis from the Centre for Economic Performance, CEP Brexit Analysis Series Paper No.08, June 2016
    Who Bears the Pain? How the costs of Brexit would be distributed across income groups, Holger Breinlich, Swati Dhingra, Thomas Sampson and John Van Reenen, CEP Brexit Analysis Series Paper No.07, June 2016
    The complete set of papers published in the CEP Brexit Analysis Series can be seen herer

    Related links
    Holger Breinlich webpage
    Swati Dhingra webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 12/07/2016      [Back to the Top]

    Washington Post

    When it comes to saving energy, it's really not all about the money

    A recent psychological study has provided suggestive evidence that when people decide to take steps to use less energy at home, and so to protect the environment, they don’t merely do so because they want to save a little bit of cash on their electricity bills. If anything, it suggests, some forms of materialistic or competitive thinking may inhibit deep or long-lasting conservation attitudes

    This article appeared in the Washington Post on 12 July 2016. Link to article

    Related Links
    Ralph Martin webpage
    Mirabelle Muuls webpage
    Growth webpage
    News Posted: 12/07/2016      [Back to the Top]

    Belfast Telegraph

    Economists oppose George Osborne's corporation tax cuts crusade

    “I think there is this kind of confusion between wanting a competitive economy and saying the way we get it is reducing the rate of corporation tax. I think that is just a mistake” said John Van Reenen of the London School of Economics’ Centre for Economic Performance.

    This article appeared in the Belfast Telegraph on 12 July 2016. Link to article

    Related Links
    John Van Reenen webpage
    Growth webpage
    News Posted: 12/07/2016      [Back to the Top]

    The Independent

    Economists say George Osborne has got it wrong on corporation tax cuts

    “I think there is this kind of confusion between wanting a competitive economy and saying the way we get it is reducing the rate of corporation tax. I think that is just a mistake” said John Van Reenen of the London School of Economics’ Centre for Economic Performance.

    This article appeared in the Independent on 12 July 2016. Link to article

    Related Links
    John Van Reenen webpage
    Growth webpage

    News Posted: 12/07/2016      [Back to the Top]

    The Scotsman

    Bill Jamieson: Secret report makes you choke on the canapes

    For example, I have obtained an internal Scottish Enterprise document circulated last week among senior managers declaring the consequences of Brexit for the Scottish manufacturing sector ''to be overwhelmingly negative''. The 15-page analysis, which is not intended for publication, sets out a wide range of political outcomes. It is a deeply depressing document. ...
    The SE paper carries an estimate from the Centre for Economic Performance that under the ''optimistic'' Norway model and the ''pessimistic'' WTO, ''trade will be negatively impacted by Brexit in both the short and long term''. It also quotes from a PwC study commissioned by the CBI projecting a decline in GDP per capita of up to 2.7 per cent by 2030.

    This article was published by The Scotsman on July 9, 2016
    Link to article here

    Related publications
    The UK Treasury analysis of 'The long-term economic impact of EU membership and the alternatives': CEP Commentary, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis Series No.4, April 2016
    See the complete set of CEP Brexit Analysis research papers here

    Related links
    Swati Dhingra webpage
    Holger Breinlich webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 09/07/2016      [Back to the Top]

    Money Control.com

    A job in UK that no man wants, but two women do

    As John Van Reenen, the Director of the Centre for Economic Performance at the London School of Economics told CNBC, "You get a rabbit-in-the-headlights phenomenon where businesses don't want to make new decisions, or new investments, because they are uncertain about the future. The immediate effect will be lowering of investment activity, a lowering of hiring. There will be an immediate slowdown of growth."

    This article appeared on Money Control.com on 9 July 2016. Link to article

    Related links
    John Van Reenen webpage
    Growth Programme webpage
    News Posted: 09/07/2016      [Back to the Top]

    The Sydney Morning Herald

    We've hit peak panic – but the economy is still ticking over

    But how worried should we be that political and financial uncertainty will feed through into the real economy? Stanford University economist Nicholas Bloom has been studying the impact of uncertainty on economies over the past decade and believes there is a link. He and colleagues have produced a neat set of "uncertainty trackers" for several countries that track mentions in articles of "uncertainty" or "uncertain" combined with references to the economy. The uncertainty index in Britain hit a record high during the Brexit debate and is at double the level of the Global Financial Crisis.

    This article appeared in The Sydney Morning Herald on 8 July 2016. Link to article

    Related Publications
    Measuring Economic Policy Uncertainty Scott R. Baker, Nicholas Bloom and Steven J. Davis, Centre for Economic Performance Discussion Paper No.1379, October 2015
    Fluctuations in Uncertainty Nicholas Bloom, Journal of Economic Perspectives, Volume 28, No.2, Spring 2014
    Fluctuations in Uncertainty , Nicholas Bloom, Centre for Economic Performance Occasional Paper No.38, December 2013


    Related links
    Nicholas Bloom webpage
    Growth Programme webpage
    News Posted: 08/07/2016      [Back to the Top]

    greenreport.it (Italy)

    Brexit, cause e conseguenze demografiche viste dall'Italia

    Confusion reigns
    ... belonging to Europe forced Britain to accept internal migratory movements, students, workers, entrepreneurs, family. Between 1995 and 2015, the number of foreigners from other EU countries increased from 0.9 to 3.3 million; at the latter date, 29 percent were Polish, 13 percent Irish, and then with decreasing rates from 7 to 5 percent, Lithuanians, Romanians, Italians, Portuguese, French, German and Spanish. ... the educational level is higher on average. The immigration of Europeans has made a leap in 2004 (with the arrival in Europe of 10 new countries, including Poland), followed by a decline with the onset of the crisis in 2007.

    This article published by greenreport.it (Italy) on July 6, 2016 cites research by the Centre for Economic Performance
    Link to article here

    Related publications
    Brexit and the Impact of Immigration on the UK, Jonathan Wadsworth, Swati Dhingra, Gianmarco Ottaviano and John Van Reenen, CEP Brexit Analysis Series Paper No.05, June 2016
    Technical Appendix to CEP Brexit Analysis Series Paper No.05

    Related links
    Jonathan Wadsworth webpage
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    John Van Reenen webpage
    Labour Markets Programme webpage
    Growth Programme webpage
    Trade Programme webpage
    News Posted: 06/07/2016      [Back to the Top]

    Financial Times

    Did economists fail us over Brexit?

    John van Reenen, the outgoing director of the LSE’s Centre for Economic Performance, doesn’t think the profession should be too down on itself. “I’m proud of what we did,” he says, and had economists engaged more “in my frank view, it would not have made a jot of difference.”

    This article appeared in the Financial Times on 6 July 2016. Link to article

    Related publications
    See the complete set of CEP Brexit Analysis research papers here

    Related links
    John Van Reenen webpage
    Growth Programme webpage

    News Posted: 06/07/2016      [Back to the Top]

    City A.M.

    George Osborne and the government share some of the blame for post-Brexit uncertainty

    "Businesses and markets hate uncertainty." How many times have we heard that recently? In the aftermath of the referendum result, when the value of the pound fell and the FTSE 100 and 250 indices contracted, "uncertainty" was the buzzword. This suggests that the market reaction was a manifestation of investors asking the question: "what is the plan?" Yet much business activity is by its nature uncertain. New products or expansion can be researched, but firms constantly take risks. Likewise in investments. No, business and markets do not hate uncertainty per se. What they do not like is policy uncertainty, as the work of the economist Nicholas Bloom has shown. His index of uncertainty for the UK, tracking the use of the words "economic", "policy" and "uncertainty"  in newspaper articles, increased significantly before the referendum.

    This article appeared in City AM on 5 July 2016. Link to article

    Related Publications
    Measuring Economic Policy Uncertainty Scott R. Baker, Nicholas Bloom and Steven J. Davis, Centre for Economic Performance Discussion Paper No.1379, October 2015
    Fluctuations in Uncertainty Nicholas Bloom, Journal of Economic Perspectives, Volume 28, No.2, Spring 2014
    Fluctuations in Uncertainty , Nicholas Bloom, Centre for Economic Performance Occasional Paper No.38, December 2013

    Related links
    Nicholas Bloom webpage
    Growth Programme webpage
    News Posted: 05/07/2016      [Back to the Top]

    Kellog Insight

    Why income inequality among white collar workers is growing

    Rising income inequality in the U.S. may seem like a 21st-century preoccupation, as workers agitate to ''occupy Wall Street'' from the left and to ''make America great again'' from the right. But the wage gap separating high-income Americans from everyone else has actually been growing since the late 1970s, even as nationwide productivity and overall wages have risen.

    Traditionally, economic explanations of this trend have fallen into two categories. Some assign responsibility to policies - for example, claiming that changes in tax policy in the 1980s and early 2000s increased earnings inequality. Others assign responsibility to changes in the supply and demand for labor - for example, arguing that the long shift in the U.S. economy from manufacturing to services may have boosted the demand for skilled workers relative to unskilled workers.

    Thomas Hubbard, a professor of strategy at the Kellogg School, has a different idea. In two research papers coauthored with Luis Garicano of the London School of Economics, Hubbard makes a case that in addition to tax policy and labor-market shifts, organizational efficiencies have played a role in widening the income gap.

    This article was published online by Kellog Insight (USA) on July 5, 2016
    Link to article here

    Related publications
    Organization and Inequality in a Knowledge Economy, Luis Garicano and Esteban Rossi-Hansberg, The Quarterly Journal of Economics (2006) 121 (4): 1383-1435 doi: 10.1093/qje/121.4.1383
    Knowledge-based Hierarchies: Using Organizations to Understand the Economy, Luis Garicano and Esteban Rossi-Hansberg, Centre for Economic Performance Occasional Paper No.43, October 2014

    Related links
    Luis Garicano webpage
    Growth Programme webpage


    News Posted: 05/07/2016      [Back to the Top]

    CMI (Chartered Management Institute)

    Apprenticeships: The industrious revolution

    A new breed of apprenticeship is offering employers a way to accelerate and keep top talent
    Petra Wilton, CMI's director of strategy and external affairs, says the degree apprenticeships will help to meet expected demand for one million more managers by 2020 and raise professional skills. CMI says four out of five UK bosses are 'accidental managers', who are promoted on the basis of their expertise in their job, but have little training in managing a team or a department. ''This programme is, for the first time, giving funding and legitimacy to driving high-level skills and linking it to professional registration and recognition,'' Wilton says. ''It's a transformational step for the government to recognise this across a broader range of disciplines.'' CMI also hopes to introduce a Masters Degree Apprenticeship (level 7) and programmes at level 3 (team leader) and level 5 (operations manager). Wilton sees weaknesses in leadership and management as a factor behind the UK's poor productivity performance. A team of academics including John Van Reenen, director of the Centre for Economic Performance at the London School of Economics, interviewed 14,000 employees around the world and found that British workers rated their supervisors lower than those in countries such as the US, Germany and Japan.

    This article was published by CMI (Chartered Management Institute) on July 5, 2016
    Link to article here

    Related links
    John Van Reenen webpage
    Growth Programme webpage
    Management Practices and Organisational Structures Research webpage


    News Posted: 05/07/2016      [Back to the Top]

    World Folio Blog

    BREXIT: Regional integration and preventing the next Italeave and Fradieu

    International organizations like IMF and the OECD along local English institutions such as the Bank of England, the British Treasury, and the Center for Economic Performance have issued separate reports on the downside of separation, agreeing on the fact that leaving the EU would be an economic net negative for the UK and would immerse the country in an immediate recession.

    This article appeared in World Folio Blog on 5 July 2016. Link to article

    Related publications
    See the complete set of CEP Brexit Analysis research papers here

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage

    News Posted: 05/07/2016      [Back to the Top]

    The Interpreter (Australia)

    Will a hung parliament bring economic uncertainty, and how damaging is that?

    After the Australian election, and after Brexit, learned authorities in dark suits are shaking their heads. 'Times are especially uncertain', is their grave assessment. It begs the question: when are times especially certain? But I digress. That financial markets hate uncertainty seems quite plain. You just need to look at the reaction after Brexit. But what about the wider economy? The last decade has seen an explosion in research on the effects of uncertainty. Nicholas Bloom of Stanford University has been one of the most important drivers of this research agenda. In a series of papers, Bloom has thrown the gamut of statistical and modelling machinery at the topic. The verdict? Uncertainty shocks can be important. In response to uncertainty shocks, firms delay investment and hiring decisions. It is relatively costless for firms to delay these decisions until the uncertainty resolves itself. What is good for the firm, however, is bad for the economy. Less investment and fewer jobs is the result; the economy enters a downturn

    This article appeared in the Interpreter (Australia) on 4 July 2016. Link to article

    Related Publications
    Measuring Economic Policy Uncertainty Scott R. Baker, Nicholas Bloom and Steven J. Davis, Centre for Economic Performance Discussion Paper No.1379, October 2015
    Fluctuations in Uncertainty Nicholas Bloom, Journal of Economic Perspectives, Volume 28, No.2, Spring 2014
    Fluctuations in Uncertainty , Nicholas Bloom, Centre for Economic Performance Occasional Paper No.38, December 2013

    Related links
    Nicholas Bloom webpage
    Growth Programme webpage
    News Posted: 04/07/2016      [Back to the Top]

    The Sunday Leader (Sri Lanka)

    The good, the bad and the ugly of Brexit

    Overall, Brexit is likely to have a negative impact on inward FDI. New empirical analysis by Center for Economic Performance implies that leaving the EU will reduce FDI inflows to the UK by around 22 per cent. Such losses of investment will damage UK productivity and could lower real incomes by 3.4 per cent. This is larger than our estimates of the static income losses from trade, which are 2.6 per cent even under our 'pessimistic scenario' (Dhingra et al, 2016). Case studies of cars and finance also show that Brexit would lower EU-related output of goods and services, and erode the UK's ability to negotiate concessions from regulations on EU related transactions.

    This article was published online by The Sunday Leader (Sri Lanka) on July 3, 2016
    Link to article here

    Related publications
    The consequences of Brexit for UK trade and living standards, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis Series Paper No.02, March 2016
    See Technical Appendix to CEP Brexit Analysis Series Paper No.2 here

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 03/07/2016      [Back to the Top]

    Royal Economic Society Newsletter

    Conference Report 2016

    The Society's Annual Conference was held at the University of Sussex, 21-23 March. This report was prepared by Ferdinando Giugliano, focusing on four fields of economic research: development economics; political economy; labour economics and macroeconomics.
    Development Economics
    In a separate session, there was one other interesting piece of work on development economics. A paper by Marco Manacorda and Andrea Tesei (both Queen Mary, University of London) looked at the role played by mobile phones in protests in Africa. It tests the widely-held hypothesis that mobile phones have acted as 'liberation technology', helping citizens who are dissatisfied with their governments to mobilise against them. The two authors find that on average mobile phone coverage does not lead to more protests. However, during a downturn, the spread of mobile phones is associated with more episodes of organised political discontent. One hypothesis is that portable devices make individuals better informed about the state of the economy. Technology may therefore allow the channelling of discontent when this is caused by some external factor, such as a recession.
    Political Economy
    John Van Reenen and Swati Dhingra (both LSE) presented a study from the Centre for Economic Performance looking at the costs of Brexit. They found that this could be between 1.3 per cent and 2.6 per cent of gross domestic product just from a simple static model that only looks at trade. However, the cost could rise to between 6.3 per cent and 9.5 per cent of GDP if the dynamic, long-term losses are included. While these estimates are obviously imperfect, their central finding that Britain would suffer non-trivial losses in case of exit appears hard to rebut.
    Labour Economics
    Stephen Machin (UCL, LSE) showed that in the UK the minimum wage has gone up since its introduction in 1999 by more than the average wage. Still, this increase has had no significant detrimental effects on employment. However, the introduction of the new 'living wage' announced by George Osborne this year poses significant challenges. The new minimum wage will be set at £7.20 an hour this year and will rise to £9 an hour by 2020, lifting the coverage of the living wage substantially. The question is therefore whether this new, higher, floor will have significant effects on employment and profits. The Office for Budget Responsibility only forecasts a reduction of around 60,000 jobs. Conversely, the value of shares of low-wage companies fell rather significantly on the day of Osborne's announcement, offering provisional evidence that profits may fall in the future. Machin has looked at the company accounts published since the announcement finding that, indeed, most companies plan to take a hit on profits. However, there may still be an adjustment in terms of employment for those companies that earn little or no profits at all, for example, care homes.

    This Conference Report was published by The Royal Economic Society in its July Newsletter
    Link to the Report here

    Related publications
    Liberation Technology: Mobile Phones and Political Mobilization in Africa, Marco Manacorda and Andrea Tesei, Centre for Economic Performance Discussion Paper No.1419, March 2016
    BREXIT 2016: Policy Analysis from the Centre for Economic Performance, Holger Breinlich, Swati Dhingra, Saul Estrin, Hanwei Huang, Gianmarco Ottaviano, Thomas Sampson, John Van Reenen and Jonathan Wadsworth, CEP Brexit Analysis Series Paper No.08, June 2016

    Related links
    Swati Dhingra webpage
    Stephen Machin webpage
    Marco Manacorda webpage
    John Van Reenen webpage
    Growth Programme webpage
    Labour Markets Programme webpage
    Trade Programme webpage


    News Posted: 01/07/2016      [Back to the Top]

    Internazionale

    Come cambiano le regole per gli immigrati dopo la Brexit

    For many it is a windfall: according to the research of the Centre for Economic Performance, a research centre, EU migrants are more likely, compared to the local population, to have received a university education or to have a job, and you are less likely to require public subsidies.

    This article was published online by Internazionale (Italy) on July 1, 2016
    Link to article here

    Related publications
    Why immigration is no reason to leave the EU, Swati Dhingra, Gianmarco Ottaviano, John Van Reenen and Jonathan Wadsworth. Article in CentrePiece Volume 21, Issue 1, Summer 2016
    Brexit and the Impact of Immigration on the UK, Swati Dhingra, Gianmarco Ottaviano, John Van Reenen and Jonathan Wadsworth, CEP Brexit Analysis Paper No.05, May 2016

    Related links
    Jonathan Wadsworth webpage
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    John Van Reenen webpage
    Labour Markets Programme webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 01/07/2016      [Back to the Top]

    Time

    The worst of the Brexit fallout is still to hit the UK

    John Van Reenen, head of the Centre for Economic Performance at the London School of Economics, said that Britain's Brexit decision will have both short-term and long-term consequences. ''There is a lot of uncertainty about the new arrangements, which will lead to less investment, slower growth, lower pay and higher unemployment. In the long run, we will not have the same access to the European single market, which will mean lower exports, less foreign investments. It will mean that we are all poorer.''

    This article was published by Time magazine online on July 1, 2016
    Link to article here

    Related publications
    See the complete set of CEP Brexit Analysis research papers here

    Related links
    John Van Reenen webpage
    Growth Programme webpage


    News Posted: 01/07/2016      [Back to the Top]

    LSE Business Review

    Taking a bit longer to do your shopping can save you money

    Big data shows you can save up to $11 per shopping trip, argue Fabio Pinna and Stephan Seiler
    Most of us are familiar with the experience of scouring supermarket shelves to find the items we want at the right price - but how effective are we at converting the time spent looking for a particular product into monetary savings? Our research seeks to measure the benefits of consumer search by studying the behavior of around 12,000 shoppers visiting a large supermarket in Northern California. Our results show that shoppers who search for longer find cheaper products, and are thus rewarded with cost savings.

    This article was published by LSE Business Review on July 1, 2016
    Link to article here

    Related publications
    In brief... Bargain hunters: calculating the benefits of consumer search, Fabio Pinna and Stephan Seiler. Article in CentrePiece Volume 21, Issue 1, Summer 2016
    Consumer Search: Evidence from Path-tracking Data, Fabio Pinna and Stephan Seiler, Centre for Economic Performance Discussion Paper No. 1296, September 2014

    Related links
    Stephan Seiler is a CEP Alumni. He is now Assistant Professor of Marketing at Stanford GSB
    Growth Programme webpage


    News Posted: 01/07/2016      [Back to the Top]

    World Politics Journal

    To Brexit or not to Brexit? That's not the question!

    Economists and political analysts have debated over the long-term effects of the vote on the future of the British economy. Prior to the referendum many warned that Brexit could have dire consequences for Britain, including losing access to European markets, which account for 48% of British exports, eventually leading to a drop in exports and ultimately, a recession. Many have discussed the economic turmoil and have suggested that investments would drop due to uncertainty. Leading up to the referendum, the Center for Economic Performance at the London School of Economics put out a research brief suggesting that exiting the EU would cause the British economy to suffer. The New York Times argued that the Brexit would make Britain poorer and Britain would become less productive. Others predicted a financial crisis.

    This article was published online by the World Politics Journal on June 30, 2016
    Link to article here

    Related publications
    See the complete set of CEP Brexit Analysis research papers here

    Related links
    Swati Dhingra webpage
    Holger Breinlich webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 30/06/2016      [Back to the Top]

    The Raconteur

    How to solve UK's productivity puzzle

    UK productivity languishes at the bottom of the G7 league table, 20 per cent lower than average, and falls behind many other Western countries. “The gap has always been there, but it’s worse since the financial crisis,” says Anna Valero, research economist in growth at the London School of Economics. “We are about 30 percentage points behind France, Germany and the US.”

    This article appeared in the Raconteur on 30 June 2016. Link to article

    Related links
    Anna Valero webpage
    Growth Programme webpage
    Anna Valero CEP publications webpage
    News Posted: 30/06/2016      [Back to the Top]

    Finyear (France)

    Brexit: quelles consequences pour les entreprises francaises?

    Customs return seems unlikely, according to a recent study (November 2015) of the Center for Economic Performance at the London School of Economics who bet on the establishment of a free trade agreement. ''However, an increase in the costs of at least 2 per cent trade appears inevitable, due to non-tariff barriers. However, if tariffs were to be reinstated, some French, but few companies could be tempted to settle locally in order to propose the ''Made in Britain'' and thus circumvent these fees. But the main consequence of the Brexit in the longer term, will be the weakening of the local market, ''estimated at 6 per cent by 2030 by the British Treasury''. Consequence: the French companies could revise downward their inclinations to anchor in this market. ''The final impact will depend on the decision of whether to maintain trade preferences between the continent and the United Kingdom, despite an exit from the EU'' concluded the study.

    This article was published online by Finyear (France) on June 29, 2016
    Link to article here

    Related publications
    See the complete set of CEP Brexit Analysis research papers here

    Related links
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 29/06/2016      [Back to the Top]

    Canadian Press (French Edition) online

    Un vote pour la sortie du Royaume-Uni de l'UE aurait plusieurs conséquences

    But the Centre for Economic Performance at the London School of Economics sees lasting consequences: the separation of the United Kingdom would without a doubt have a negative impact on foreign direct investment, who themselves have effects on wages and productivity of the country. ''The United Kingdom would be permanently poorer if we were to leave the European Union'', says the report of the British Treasury.

    This article was published online by the Canadian Press (French edition) online, on June 29, 2016
    Link to article here

    Related publications
    See the whole series of CEP Brexit Analysis papers here

    Related links
    Holger Breinlich webpage
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 29/06/2016      [Back to the Top]

    Quartz

    Charts: Half of the UK's foreign investment comes from the countries it just snubbed

    In the meantime, things look pretty bleak. Earlier this year a team from the London School of Economics estimated that leaving the EU will lead to a 22% decline in investment from abroad. (Other studies have projected both better and worse outcomes.) The supporting research focuses on the impact of leaving on the automobile manufacturing and financial industries.

    This article appeared on quartz on 29 June 2016. Link to article

    Related publications
    See the complete set of CEP Brexit Analysis research papers here

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage
    News Posted: 29/06/2016      [Back to the Top]

    GeVestor (Germany)

    Brexit: Top-Ökonomen sehen höhere Rezessionsgefahr

    Top-Okonomen wie John Van Reenen (London School of Economics) erwarten allein durch die Unsicherheit eine sofortige Abkuhlung des Wachstums.
    Top economists such as John van Reenen (London School of Economics) expect an immediate cooling of growth alone by the uncertainty.

    This article was published online by GeVestor (Germany) on June 28, 2016
    Link to article here

    Related Links
    John Van Reenen webpage
    Growth Programme webpage


    News Posted: 28/06/2016      [Back to the Top]

    The Times

    We economists must face the plain truth that the referendum showed our failings

    ... We could look at the superb work of John Van Reenen and colleagues at the London School of Economics(LSE), of Nick ...

    This article was published online by The Times on June 28, 2016
    Link to article here

    Related publications
    See the complete set of CEP Brexit Analysis research papers here.

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 28/06/2016      [Back to the Top]

    Newsweek

    Don't Believe the Brexit Prophecies of Economic Doom

    We were told that the consensus of economic experts were overwhelmingly opposed to a Brexit. Lauded institutions—from the IMF, OECD to the Treasury and London School of Economics—produced damning forecasts that ranged from economic hardship to total disaster if the U.K

    This article appeared in Newsweek on 28 June 2016. Link to article

    Related publications See the complete set of CEP Brexit Analysis research papers here

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage
    News Posted: 28/06/2016      [Back to the Top]

    9 News

    'Brexit' is here: What happens next

    The United Kingdom voted Thursday for a British exit — or "Brexit" — from the European Union. What happens now is "a leap into the unknown," according to a report on "Life After Brexit" by the London School of Economics

    This article appeared on 9 News on 28 June 2016. Link to article

    Related publications
    See the complete set of CEP Brexit Analysis research papers here.

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage
    News Posted: 28/06/2016      [Back to the Top]

    Yahoo! Finance

    This is why Brexit will be a nightmare for the UK

    This arrangement “would not generate substantial fiscal savings for the UK government,” according to a recent analysis by the London School of Economics and Political Science.

    This article appeared on Yahoo! Finance on 28 June 2016. Link to article

    Related publications
    See the complete set of CEP Brexit Analysis research papers here

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage

    News Posted: 28/06/2016      [Back to the Top]

    Eurasia Review

    What now for Britain and EU? - Analysis

    The Prime Minister must now be regretting including the in/out referendum in his earlier election manifesto pledges to win over the far-right votes. Not taking lessons from the close call in the Scottish referendum, he gambled with the future of the country and lost, announcing he will step down. The public in the meantime were bombarded with polls and predictions of varying degrees of reliability. In a final attempt to highlight the economic dangers of Brexit, three top institutions - the National Institute of Economic and Social Research, Institute for Fiscal Studies and Centre for Economic Performance - released a joint statement on 21 June warning: ''A vote to leave the EU would almost certainly make us financially worse off compared with staying in the EU, quite possibly by a substantial amount.'' It seems that the majority of the British public chose to ignore the almost unanimous expert advice, with the belief that the UK can go it alone successfully, in a vote that truly went against the establishment.

    This article was published online by Eurasia Review on June 28, 2016
    Link to article here

    Related publications
    June 20, 2016
    CEP, NIESR and IFS blog
    Leaving the EU would almost certainly damage our economic prospects
    See the complete set of CEP Brexit Analysis research papers here

    Related links
    Swati Dhingra webpage
    Holger Breinlich webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 28/06/2016      [Back to the Top]

    Daily News Egypt

    LuxLeaks, law and justice all part of tax scandal trial in Luxembourg

    The LuxLeaks papers clearly illustrate that Luxembourg’s most important export product is tax avoidance. That is why French economics researcher Gabriel Zucman says that Luxembourg is “the center of European tax evasion.” Zucman, who has lectured at the London School of Economics since 2014, describes the grand duchy as an “economic colony of the international financial industry.”

    This article appeared in Daily News Egypt on 28 June 2016. Link to article

    Related links
    Gabriel Zucman webpage
    Growth Programme webpage
    News Posted: 28/06/2016      [Back to the Top]

    Daily News Egypt

    LuxLeaks, law and justice all part of tax scandal trial in Luxembourg

    The LuxLeaks papers clearly illustrate that Luxembourg’s most important export product is tax avoidance. That is why French economics researcher Gabriel Zucman says that Luxembourg is “the center of European tax evasion.” Zucman, who has lectured at the London School of Economics since 2014, describes the grand duchy as an “economic colony of the international financial industry.”

    This article appeared in Daily News Egypt on 28 June 2016. Link to article

    Related links
    Gabriel Zucman webpage
    Growth Programme webpage
    News Posted: 28/06/2016      [Back to the Top]

    BBC Parliament

    Live House of Commons

    Reference to Gabriel Zucman’s research on tax havens

    This programme appeared on BBC Parliament on 28 June 2016. Link

    Related links
    Gabriel Zucman webpage
    Growth Programme webpage
    News Posted: 28/06/2016      [Back to the Top]

    The Huffinton Post - Korea

    Brexit will show what we have on the sheet

    British unemployment shows the transition graph of the influx immigrants. 2005-2010 immigrant unemployment rate is rapidly increased rather than fell. ©Jonathan Wadsworth, Center for Economic Performance. [Text with Figure 4: Unemployment of UK-born and EU immigration, 1975-2015, from CEP Brexit Analysis, Paper No.5, May 2016.]

    This article was published online by The Huffington Post - Korea on June 27, 2016
    Link to article here

    Related publications
    Brexit and the Impact of Immigration on the UK, Swati Dhingra, Gianmarco Ottaviano, John Van Reenen and Jonathan Wadsworth, CEP Brexit Analysis Series Paper No.05, May 2016
    Technical Appendix to 'Brexit and the impact of immigration on the UK'
    See the whole series of CEP Brexit Analysis papers here

    Related links
    Jonathan Wadsworth webpage
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Labour Markets Programme webpage
    Growth Programme webpage
    Trade Programme webpage


    News Posted: 27/06/2016      [Back to the Top]

    Money Talk 1010AM

    How bad will Brexit get? Here's what top economists are saying

    In the months leading up to Britain's referendum on whether to leave the European Union, many economists warned over and over again that a ''Brexit'' could have awful ripple effects: Britain could lose its favorable access to European markets if it left; uncertainty could dry up business investment; the country could tumble into recession. On Thursday, British voters decided to vote ''Leave'' anyway. And now they're left to grapple with the consequences - including any economic turmoil that may follow. So how bad will leaving the EU be? Already on Friday, markets were plunging sharply around the world, suggesting major economic risks on the horizon. But economists have differing views on just what Brexit will mean - and exactly how dire it could get. Here's a running roundup from around the internet. John Van Reenen: ''There will be an immediate slowdown of growth''.

    This article was published online by Money Talk 1010AM on June 27, 2016
    Link to article here

    Related publications
    The complete set of CEP Brexit Analysis papers is available in one publication. Download from here.

    Related links
    John Van Reenen webpage
    Growth Programme webpage


    News Posted: 27/06/2016      [Back to the Top]

    Sinarharian (Indonesia)

    Brexit bakal cetus kesan domino

    Meanwhile, Director of the Center for Economic Performance at the London School of Economics, John Van Reenen tell Brexit will give a significant impact in the short-term period. ''Impending situation where business refuses to make a decision or new investment because future is still ambiguous. It will give immediate effects of investment activities, thus causing slow growth,'' he said.

    This article was published online by Sinarharian (Indonesia) on June 27, 2016
    Link to article here

    Related publications
    The complete set of CEP Brexit Analysis papers is available in one publication. Download from here.

    Related links
    John Van Reenen webpage
    Growth Programme webpage


    News Posted: 27/06/2016      [Back to the Top]

    The Economist - Buttonwood's notebook blog

    Britain faces Project Reality

    FRIDAY was the day when international markets absorbed the shock of the British vote to leave the European Union; a vote that few investors had anticipated. But today, market focus shifted back to the places where the vote is likely to have the biggest impact; on Britain and its European neighbours. ... And they are certainly right; it's not the moves in the markets, by themselves, that is important but what they signify for the economic outlook. Here is John Van Reenen of the LSE, writing for Vox:
    The reasons to expect lower national income when the UK leaves the EU are well-established: prolonged uncertainty, reduced access to the single market, and reduced investment from overseas. Each of these would be highly likely, and the overwhelming weight of evidence is that each would be damaging for the living standards of UK households. As a result of the decision to leave, we should expect to see:
    ''Lower real wages; a lower value of the pound - and hence higher prices for goods and services; higher borrowing, lower public spending, or higher taxes; in the short run, higher unemployment''.

    This article was published by The Economist - Buttonwood's notebook blog on June 27, 2016
    Link to article here

    Related publications
    The complete set of CEP Brexit Analysis papers is available in one publication. Download from here.

    Related links
    John Van Reenen webpage
    Growth Programme webpage


    News Posted: 27/06/2016      [Back to the Top]

    El Correo Gallego.es (Spain)

    No hay prisa para salir

    Parecidos resultados obtiene para los mismos escenarios el informe del Centre for Economic Performance de la London School of Economics
    In the three cases the fall of GDP in per cent, following the same order, would be 3.8, 6.2 and 7.5. Similar results obtained for the same scenarios the report of the Centre for Economic Performance of the London School of Economics.

    This article was published online by El Correo Gallego (Spain) on June 27, 2016
    Link to article here

    Related publications
    The complete series of Brexit Papers are available online here

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 27/06/2016      [Back to the Top]

    SVT (Sweden)

    Brexit-oron slår hårt mot banktunga Sverige

    - Lehman-kraschen kom fran ingenstans, sager John Van Reenen, London School of Economics till New York Times. Det har ar som en tagolycka dar du kan se tagen komma mot varandra pa avstand men hoppas att de ska kunna styra undan.
    - the Lehman crash came from nowhere,'' said John Van Reenen, London School of Economics for the New York Times. This is like a train accident where you can see trains coming at each other from a distance but hope they will be able to steer clear.

    This article was published online by SVT (Sweden) on June 27, 2016
    Link to article here

    Related Links
    John Van Reenen webpage
    Growth Programme webpage


    News Posted: 27/06/2016      [Back to the Top]

    OECD Insights

    Did the OECD composite leading indicators see it coming?

    To some Professor Luis Garicano of the London School of Economics is a leading expert in the fields of productivity and industrial organisation, but to many he's the man Queen Elizabeth asked: ''Why did no one see it coming?'' ''it'' being the crisis. In retelling the story, Pr. Garicano pointed out that he welcomed the question as it provided an opportunity to cite many that did see it coming, including Messrs, Krugman and Volcker. Was the OECD among them?

    This article was published by OECD Insights on June 27, 2016
    Link to article here

    Related Links
    Luis Garicano webpage
    Growth Programme webpage


    News Posted: 27/06/2016      [Back to the Top]

    The Conversation

    Don't believe the Brexit prophecies of economic doom

    We were told that the consensus of economic experts were overwhelmingly opposed to a Brexit. Lauded institutions - from the IMF, OECD to the Treasury and London School of Economics - produced damning forecasts that ranged from economic hardship to total disaster if the UK leaves the EU.

    This article was published online by The Conversation on June 27, 2016
    Link to article here

    Related publications
    The complete series of Brexit Papers are available online here

    Related links
    Holger Breinlich webpage
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 27/06/2016      [Back to the Top]

    Politico.eu

    ‘A midsummer night's nightmare' for European trade

    Swati Dhingra, assistant professor of economics at the London School of Economics, said such fears are not unwarranted. “During a trade negotiation, when a smaller country negotiates with a bigger one, in this case the largest in the world, it often ends up conceding much more than it wants in order to be granted market access.”

    This article appeared in Politico.eu on 27 June 2016. Link to article

    Related publications
    See the complete set of CEP Brexit Analysis research papers here .

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage
    News Posted: 27/06/2016      [Back to the Top]

    News GD.com

    China least affected by Brexit fallout

    Bai's opinion was echoed by Gianmarco Ottaviano, a professor at the London School of Economics and Political Science, who expects Chinese enterprises to transfer some of their investments from the UK to EU countries in the wake of the UK vote, according to domestic news portal hexun.com, citing the BBC.

    This article appeared on News GD.com on 27 June 2016. Link to article

    Related publications
    See the complete set of CEP Brexit Analysis research papers here .

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage

    News Posted: 27/06/2016      [Back to the Top]

    FT.com

    UK Economy: Brexit in seven charts - the economic impact

    Millions of words on the topic - including economists' majority view that leaving the bloc will slow growth and the Leave campaign's counterarguments that Britain will prosper - could be replaced by seven charts. These sum up the arguments over what breaking up with Brussels will really mean for jobs, growth and public finances.

    Do migrants reduce UK wages?
    The chart [chart sourced from the CEP Brexit Analysis Paper No.05] shows the change in the share of EU immigrants for every local area in the UK (left to right) and the change in local wage levels (up and down). There is no correlation, indicating that areas with high levels of immigration do not have lower wage growth. There is no indication that immigration reduces wages.

    This article was published by FT.com on June 27, 2016
    Link to article here

    Related publications
    Brexit and the Impact of Immigration on the UK, Swati Dhingra, Gianmarco Ottaviano, John Van Reenen and Jonathan Wadsworth, CEP Brexit Analysis Paper No.05, May 2016
    See Figure 9 on page 10 for sourced chart.

    Related links
    Jonathan Wadsworth webpage
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    John Van Reenen webpage
    Labour Markets Programme webpage
    Trade Programme webpage
    Growth Programme webpage

    News Posted: 27/06/2016      [Back to the Top]

    The Economist

    What happens to EU migrants in Britain

    ''IMMIGRATION, immigration, immigration'', shouted a headline in the Sun, a right-wing tabloid newspaper, the week that Britain voted to leave the European Union. It followed weeks of campaigning from the Leave side assuring voters that they would ''take back control'' and restrict EU migration if Britain left the club. Now that the referendum has just been won in favour of Brexit, what will happen to the EU migrants currently in Britain - and to British nationals living in the EU? Some 3m EU nationals live in Britain, compared with 1.2m Britons who live on the continent. The volume of EU migrants coming to Britain has increased since the club was expanded in 2004. Last year net migration from the EU was at a historic high, mostly because fewer Brits were moving abroad. Many consider this a boon: according to research from the Centre for Economic Performance, a think-tank, EU migrants are more likely to be university-educated, less likely to claim benefits and more likely to be in a job than the native-born population.

    This article was published online by the Economist on June 27, 2016
    Link to article here

    Related publications
    Why immigration is no reason to leave the EU, Swati Dhingra, Gianmarco Ottaviano, John Van Reenen and Jonathan Wadsworth. Article in CentrePiece Volume 21, Issue 1, Summer 2016
    Brexit and the Impact of Immigration on the UK, Swati Dhingra, Gianmarco Ottaviano, John Van Reenen and Jonathan Wadsworth, CEP Brexit Analysis Paper No.05, May 2016

    Related links
    Jonathan Wadsworth webpage
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    John Van Reenen webpage
    Labour Markets Programme webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 27/06/2016      [Back to the Top]

    Forbes Online

    Which Management Practices Are Most Beneficial To Firm Performance?

    Along with colleagues Nicholas Bloom, Stanford University, and John Van Reenen, London School of Economics, Sadun challenges this view in a new National Bureau of Economic Research working paper, Management as a Technology?

    This article appeared in Forbes on 27 June 2016. Link to article

    Related Publications
    Management as a Technology? Nicholas Bloom, Raffaella Sadun, John Van Reenen, June 2016 Paper No' CEPDP1433

    Related Links
    Nicholas Bloom webpage
    Raffaella Sadun webpage
    John Van Reenen webpage
    Growth webpage

    News Posted: 27/06/2016      [Back to the Top]

    Forbes Online

    Which Management Practices Are Most Beneficial To Firm Performance?

    Along with colleagues Nicholas Bloom, Stanford University, and John Van Reenen, London School of Economics, Sadun challenges this view in a new National Bureau of Economic Research working paper, Management as a Technology?

    This article appeared in Forbes on 27 June 2016. Link to article

    Related Publications
    Management as a Technology? Nicholas Bloom, Raffaella Sadun, John Van Reenen, June 2016 Paper No' CEPDP1433

    Related Links
    Nicholas Bloom webpage
    Raffaella Sadun webpage
    John Van Reenen webpage
    Growth webpage

    News Posted: 27/06/2016      [Back to the Top]

    Forbes Online

    Which Management Practices Are Most Beneficial To Firm Performance?

    Along with colleagues Nicholas Bloom, Stanford University, and John Van Reenen, London School of Economics, Sadun challenges this view in a new National Bureau of Economic Research working paper, Management as a Technology?

    This article appeared in Forbes on 27 June 2016. Link to article

    Related Publications
    Management as a Technology? Nicholas Bloom, Raffaella Sadun, John Van Reenen, June 2016 Paper No' CEPDP1433

    Related Links
    Nicholas Bloom webpage
    Raffaella Sadun webpage
    John Van Reenen webpage
    Growth webpage

    News Posted: 27/06/2016      [Back to the Top]

    Forbes Online

    Which Management Practices Are Most Beneficial To Firm Performance?

    Along with colleagues Nicholas Bloom, Stanford University, and John Van Reenen, London School of Economics, Sadun challenges this view in a new National Bureau of Economic Research working paper, Management as a Technology?

    This article appeared in Forbes on 27 June 2016. Link to article

    Related Publications
    Management as a Technology? Nicholas Bloom, Raffaella Sadun, John Van Reenen, June 2016 Paper No' CEPDP1433

    Related Links
    Nicholas Bloom webpage
    Raffaella Sadun webpage
    John Van Reenen webpage
    Growth webpage

    News Posted: 27/06/2016      [Back to the Top]

    El Tiempo (Spain)

    El incierto panorama para un reino que no esta unido

    John Van Reenen, Professor at the London School of Economics, said on Friday in an interview issued by the American channel CNBC that the companies ''will not want to take investment decisions because they have uncertainty about the future. The effect immediately will be a descent inverter and less employment. Those sectors more affected would be transport and IT industry manufacturing''.

    This article was published by El Tiempo (Spain) on June 26, 2016
    Link to article here

    Related publications
    The complete set of CEP Brexit Analysis papers is available in one publication. Download from here.

    Related links
    John Van Reenen webpage
    Growth Programme webpage


    News Posted: 26/06/2016      [Back to the Top]

    Seeking Alpha

    The Consequences Of Brexit

    These numbers all point to a significant deterioration in the economy. In fact, it is a disaster for the U.K. as inflation will skyrocket (note that the British pound dropped 15% against gold in one day) and incomes could drop 2.3% according to a report issued by the Centre for Economic Performance at the London School of Economics.

    This article appeared on Seeking Alpha on 26 June 2016. Link to article

    Related publications
    See the complete set of CEP Brexit Analysis research papers here.

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage

    News Posted: 26/06/2016      [Back to the Top]

    Belfast Telegraph

    EU Referendum: Northern Ireland household budgets likely to be hit by rise in food prices and higher taxation

    However, the London School of Economics expects the economy to be smaller by between 6.3% and 9.5% than if we stayed a member of the EU.

    This article appeared in the Belfast Telegraph on 26 June 2016. Link to article

    Related publications
    See the complete set of CEP Brexit Analysis research papers here

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage

    News Posted: 26/06/2016      [Back to the Top]

    Tuoi Tre (Vietnam)

    Britain will lose thousands of financial industry jobs

    According to John Van Reenen, Director of the Center for Economic Performance who said: "the same phenomenon will occur as being ''dubious'' in a period when businesses don't like to take new decisions or new investments because they feel uncertain about the future. The immediate impact will slow investment, slow recruitment activities. There will also be a reduction in the growth of the UK''.

    This article was published by Tuoi Tre (Vietnam) online on June 25, 2016
    Link to article here

    Related publications
    The complete set of CEP Brexit Analysis papers is available in one publication. Download from here.

    Related links
    John Van Reenen webpage
    Growth Programme webpage


    News Posted: 25/06/2016      [Back to the Top]

    The STAT Media Blog

    Brexit leaves global markets in jitters

    In an interview to CNBC, John Van Reenen, director of the Centre for Economic Performance at the London School of Economics said the short-term impacts would be painful: ''You get a rabbit-in-the-headlights phenomenon where businesses don't want to make new decisions, or new investments, because they are uncertain about the future. The immediate effect will be a lowering of investment activity, a lowering of hiring. There will an immediate slowdown of growth,'' Reenen told the channel.

    This article was published online by The STAT Media blog on June 25, 2016
    Link to article here

    Related publications
    The complete set of CEP Brexit Analysis papers is available in one publication. Download from here.

    Related links
    John Van Reenen webpage
    Growth Programme webpage


    News Posted: 25/06/2016      [Back to the Top]

    politics.co.uk

    No more excuses: stand up for immigrants

    Labour MPs now walk around saying that immigration reduces domestic wages, that the rich man has got a cheaper plumber, but the indigenous plumber has had to reduce his fees. Usually this argument is framed as an assault on the 'white working class', as if we don't have any black or Indian or Pakistani or Bangladeshi working class people in this country. Well that's a lie too. We have no idea if immigration reduces wages and in fact many studies show it does the precise opposite. PwC research suggests it raises the median income by 0.7%. LSE found areas with high immigration did not have lower wage growth.

    This article was published online by politics.co.uk on June 25, 2016
    Link to article here

    Related news article
    EU migrants have no negative effect on UK wages, says LSE’, The Guardian, 11 May 2016

    Related publications
    Brexit and the Impact of Immigration on the UK, Jonathan Wadsworth, Swati Dhingra, Gianmarco Ottaviano and John Van Reenen, CEP Brexit Analysis Paper No.05, May 2016

    Related links
    Jonathan Wadsworth webpage
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    John Van Reenen webpage
    Labour Markets Programme webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 25/06/2016      [Back to the Top]

    The Daily Dot

    Brits are Googling 'what happens if we leave the EU?' one day after voting to do exactly that

    Last night, as it became clear that Britain had voted to exit the European Union, Google Trends reported a 250 percent spike in searches for ''what happens if we leave the EU?''
    Markets are crashing around the world, Prime Minister David Cameron has resigned, and things have become uncertain for immigrants to the U.K. and U.K. citizens living abroad in the EU. And Scotland will likely take this opportunity to reconsider that whole independence question. How come nobody predicted this?
    Oh, wait, everybody predicted this.
    ''It's likely that Brexit (and what an ugly neologism it is) would lead to plummeting stock markets and an economic recession, with losses to GDP calculated by the Centre for Economic Performance at up to 9.5% - worse than the 2008 financial crisis,'' wrote Alex Preston in Guardian, more than a year ago. The article was headlined ''What would happen if Britain left the EU?'' and is one of the top Google results for the question.

    This article was published online by the Daily Dot on June 24, 2016
    Link to article here

    Related publications
    The complete set of CEP Brexit Analysis papers is available in one publication. Download from here.

    Related links
    Holger Breinlich webpage
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Jonathan Wadsworth webpage
    Labour Markets Programme webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 24/06/2016      [Back to the Top]

    LiveMint.com

    Time to clear Brexit's poisonous air

    According to an analysis, Brexit and the impact on immigration, published by the Centre for Economic Performance at the London School of Economics, EU immigrants are ''more educated, younger, more likely to be in work and less likely to claim benefits than the UK-born. About 44% have some form of higher education, compared with only 23% of the UK-born. About one-third of EU immigrants live in London, compared with only 11% of the UK-born''.

    This article was published online by LiveMint.com on June 24, 2016
    Link to article here

    Related publications
    Brexit and the Impact of Immigration on the UK, Swati Dhingra, Gianmarco Ottaviano, John Van Reenen and Jonathan Wadsworth, CEP Brexit Analysis Series Paper No.05, May 2016
    Technical Appendix to 'Brexit and the impact of immigration on the UK'

    Related links
    Jonathan Wadsworth webpage
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    John Van Reenen webpage
    Labour Markets Programme webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 24/06/2016      [Back to the Top]

    Katadata (Indonesia)

    Inggris Tinggalkan Uni Eropa, Pasar Keuangan Dunia Guncang

    The decision left the United Kingdom society of the European Union does indeed have fueled new uncertainty. ''Businessmen reluctant to take new decisions or affect investments, because of the uncertainty for the future,'' said the Director of the Centre for Economic Performance at the London School of Economics, John Van Reenen, as reported by the New York Times, Friday (24/6).

    This article was published online by Katadata News (Indonesia) on June 24, 2016
    Link to article here

    Related publications
    The complete set of CEP Brexit Analysis papers is available in one publication. Download from here.

    Related links
    John Van Reenen webpage
    Growth Programme webpage


    News Posted: 24/06/2016      [Back to the Top]

    La Izquierda Diario (Spanish)

    El Brexit, mala noticia para el segundo semestre

    First views on the global economic impact of such episode refer to one (even minor) world growth rate. Thus for example claimed John Van Reenen of the London School of Economics, who said the effect ''disincentive'' to investment by the immediate context of uncertainty generated by the Brexit.

    This article was published online by La Izquierda Diario (Spain) on June 24, 2016
    Link to article here

    Related publications
    The complete set of CEP Brexit Analysis papers is available in one publication. Download from here.

    Related links
    John Van Reenen webpage
    Growth Programme webpage


    News Posted: 24/06/2016      [Back to the Top]

    La Izquierda Diario (Spanish)

    El Brexit, mala noticia para el segundo semestre

    First views on the global economic impact of such episode refer to one (even minor) world growth rate. Thus for example claimed John Van Reenen of the London School of Economics, who said the effect ''disincentive'' to investment by the immediate context of uncertainty generated by the Brexit.

    This article was published online by La Izquierda Diario (Spain) on June 24, 2016
    Link to article here

    Related publications
    The complete set of CEP Brexit Analysis papers is available in one publication. Download from here.

    Related links
    John Van Reenen webpage
    Growth Programme webpage


    News Posted: 24/06/2016      [Back to the Top]

    New York Times

    After 'Brexit' vote, investors are gripped by a panic last seen in 2008

    In crudest outlines, the panic that followed Britain's vote to quit the European Union traced the 2008 collapse of Lehman Brothers, an event that turned an unfolding financial crisis into the bleakest economic downturn since the Great Depression. The similarities hung uneasily over markets on Friday, presenting a grim question: How ugly might things get? ... ''Lehman came out of the blue,'' said John Van Reenen, director of the Center for Economic Performance at the London School of Economics. ''This is like a train wreck where you can see the trains coming together for a long distance and you're hoping the trains will swerve away.''

    This article was published by the New York Times on June 24, 2016
    Link to article here

    Related publications
    The complete set of CEP Brexit Analysis papers is available in one publication. Download from here.

    Related links
    John Van Reenen webpage
    Growth Programme webpage


    News Posted: 24/06/2016      [Back to the Top]

    Forbes Online

    The UK ditches the Establishment and come November we might too

    The parallels between Brexit backers and Trumps supporters is clear. Trump's campaign targets manufacturing towns across America, frequently expressing the need to reject globalism and put ''America first''. In Britain, there has been similar talk of finally putting the UK ahead of Europe from the Leave campaign. Both Trump's campaign and the Leave campaign promote economic protectionism and rile up fears of an immigrant invasion that would take away jobs and lead to freeloading off the social services system. It follows that it looks like citizens in the UK were willing to damage their economic stability in exchange for protectionist policies and more sovereignty. The Centre for Economic Performance analysis of Brexit predicts a 1.3%-2.6% fall in the average UK income, with the overall GDP dropping £26 to 55 billion.

    This article was published online by Forbes on June 24, 2016
    Link to article here

    Related publications
    See the complete set of CEP Brexit Analysis research papers here

    Related links
    Swati Dhingra webpage
    Holger Breinlich webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 24/06/2016      [Back to the Top]

    Investors Chronicle

    Equities after Brexit

    Whenever share prices fall significantly investors should ask: is this because future dividends will be lower, or is it because risk aversion has increased?
    ... So, which of these explanations applies to the post-Brexit drop in UK shares? We have two reasons to hope the fall is temporary. One is simply that prices have fallen so far. As I write, the FTSE 250 is down by ten per cent since Thursday: this is a better gauge of domestically-oriented share prices than the FTSE 100, which is dominated by multinationals some of which have little exposure to the UK economy. This is greater than even the most pessimistic economists' assessment of the long-term impact of Brexit upon GDP - the Centre for Economic Performance's estimate of a nine per cent hit. (Most economists estimate the impact will be only around half this: the NIESR, for example, puts this cost at 2.7-3.7 per cent.)

    This article was published online by Investors Chronicle on June 24, 2016
    Link to article here

    Related publications
    See the complete set of CEP Brexit Analysis research papers here

    Related links
    Swati Dhingra webpage
    Holger Breinlich webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 24/06/2016      [Back to the Top]

    CNBC (USA)

    Turbulence and uncertainty for the market after 'Brexit'

    The world map has been redrawn with the rules of commerce across Europe, the largest marketplace on earth. Britain's vote on Thursday to leave the European Union has set in motion an unprecedented and unpredictable process that threatens turbulence and potential crisis - for Britain, for Europe and for the global economy. ... ''You get a rabbit-in-the-headlights phenomenon where businesses don't want to make new decisions, or new investments, because they are uncertain about the future,'' said John Van Reenen, director of the Centre for Economic Performance at the London School of Economics. ''The immediate effect will be a lowering of investment activity, a lowering of hiring. There will an immediate slowdown of growth.''

    This article was published online by CNBC (USA) on June 24, 2016
    Link to article here

    Also in
    The New York Times
    Turbulence and Uncertainty for the Market After 'Brexit'

    Related publications
    Full series of CEP Brexit Analyses can be seen here

    Related links
    John Van Reenen webpage
    Growth Programme webpage

    News Posted: 24/06/2016      [Back to the Top]

    Versus

    Brexit: comunque vada, l'incertezza e l'unica certezza

    Brexit: whatever happens, uncertainty is the only certainty
    Il LSE Centre for Economic Performance ha esaminato l'analisi economica del prof. Patrick Minford, celebre economista pro-Brexit, e l'ha bocciata senza appello. Riporto qui due commenti ben poco lusinghieri tratti dalla critica al lavoro di Minford pubblicata dal LSE Centre.
    The LSE Centre for Economic Performance, examined the economic analysis of prof. Patrick Minford, famous economist pro-Brexit, and he rejected without appeal.

    This article was published online by Versus on June 14, 2016
    Link to article here

    Related publications
    See the whole series of CEP Brexit Analysis papers here

    Related links
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Growth Programme webpage
    Trade Programme webpage


    News Posted: 23/06/2016      [Back to the Top]

    The New York Times

    Turbulence and uncertainty for the market after 'Brexit'

    Few expect that Britain's departure from Europe will set off a full financial crisis like the one seen after the collapse of the investment banking giant Lehman Brothers in 2008. ... If no deal is struck, the rules of the World Trade Organization could apply. They give member nations the rights to impose potentially steep tariffs on imports, raising the possibility of a tit-for-tat trade skirmish between Britain and the Continent. In the meantime, the lack of clarity is likely to damage economic growth in Britain and beyond. ''You get a rabbit-in-the-headlights phenomenon where businesses don't want to make new decisions, or new investments, because they are uncertain about the future,'' said John Van Reenen, director of the Center for Economic Performance at the London School of Economics. ''The immediate effect will be a lowering of investment activity, a lowering of hiring. There will an immediate slowdown of growth.''

    This article was published by The New York Times on June 23, 2016
    Link to article here

    Related publications
    Life after Brexit : What are the UK's options outside the European Union?, Swati Dhingra and Thomas Sampson, CEP Brexit Analysis Series Paper No.01, February 2016
    The complete set of CEP Brexit Analysis papers is available in one publication. Download from here.

    Related links
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 23/06/2016      [Back to the Top]

    FT.com

    EU Referendum: economic message lost on voters

    By the end of the campaign, the heads of Britain's most respected economic think-tanks issued a joint statement, so worried were they that the message had failed to connect. Paul Johnson, head of the Institute for Fiscal Studies, Jagjit Chadha, director of the National Institute of Economic and Social Research and John van Reenen, head of the Centre for Economic Performance at the London School of Economics, said Brexit would ''almost certainly make us financially worse off compared with staying in the EU, quite possibly by a substantial amount''.

    This article was published online by FT.com on June 23, 2016
    Link to article here

    Related publications
    June 20, 2016
    CEP, NIESR and IFS blog
    Leaving the EU would almost certainly damage our economic prospects
    See the complete set of CEP Brexit Analysis research papers here

    Related links
    Swati Dhingra webpage
    Holger Breinlich webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 23/06/2016      [Back to the Top]

    Financial Buzz

    What are Brexit's real impacts?

    The whole world is eager to know the result of Brexit poll on Thursday. The result could have far economic consequences for the EU and the rest of the world. The greater consequences are more subtle, gradual, and global. Brexit would be the postwar of decades against global integration. This consensus is boosting protectionism and anti-immigrant world-wide. The uncertainties would slow down global growth clouded by aging populations and inefficient productivity. Although the supporters on Brexit say EU integration improves the incomes only for elites, every skilled worker is also a consumer and, therefore, benefits the whole British economy by making products better and cheaper to compete in the world market. As for the immigration policy, it's probably a plus as well. EU immigrants to Britain are better educated and diligent compared to UK-born workers, and immigrants normally pay more in taxes than they receive in benefits, according to The Center for Economic Performance at the London School of Economics.

    This article was published online by Financial Buzz on June 23, 2016
    Link to article here

    Related publications
    Brexit and the Impact of Immigration on the UK, Swati Dhingra, Gianmarco Ottaviano, John Van Reenen and Jonathan Wadsworth, CEP Brexit Analysis No.05, May 2016
    Full series of CEP Brexit Analyses can be seen here

    Related links
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    John Van Reenen webpage
    Jonathan Wadsworth webpage
    Labour Markets Programme webpage
    Growth Programme webpage
    Trade Programme webpage


    News Posted: 23/06/2016      [Back to the Top]

    The Morning Star

    Brexit Watch: Cameron Pleads With Older Voters In Final Remain Push

    Meanwhile, the Institute for Fiscal Studies, the National Institute of Economic and Social Research and the Centre for Economic Performance issued a final joint warning that Britain will ''almost certainly'' be worse off outside the EU. The group said no economic question in their respective lifetimes had ever been subject to such blanket agreement among experts. The trio said ''almost all of those who have looked seriously at this issue'' were forecasting lower real wages, high prices for goods and services, higher borrowing costs and higher unemployment under a Brexit scenario.

    This article was published online by The Morning Star on June 22, 2016
    Link to article here

    Related publications
    June 20, 2016
    CEP, NIESR and IFS blog
    Leaving the EU would almost certainly damage our economic prospects
    See the complete set of CEP Brexit Analysis research papers here

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 22/06/2016      [Back to the Top]

    LSE British Politics and Policy blog

    Foreign investors love Britain - but Brexit would end the affair

    Foreign investment brings many benefits to the UK, including higher pay and productivity. But a Brexit vote could end it all, write Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen. First, not being in the single market will make the UK a less attractive export platform; second, multinationals have complex supply chains and costs which would be more difficult to manage if the UK left the EU; third, the uncertainty over the UK's trade arrangements after a Brexit will decrease its appeal.

    This article was published online by the LSE British Politics and Policy blog on June 22, 2016
    Link to article here

    Related publications
    The impact of Brexit on foreign investment in the UK, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis Series Paper No.03, April 2016
    Technical Appendix to CEP Brexit Analysis Series Paper No.03
    See the complete series of CEP Brexit Analysis papers here

    Related links
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 22/06/2016      [Back to the Top]

    Quartz

    A London without immigrants would not be London

    There is little evidence to support the former. Roughly 2.2 million EU nationals work in the UK, comprising 6.6% of the workforce, according to the FT report. Another report from the London School of Economics and Centre for Economic Performance found that while EU migration has increased and a third of EU migrants live in London, ''areas of the UK with large increases in EU immigration did not suffer greater falls in the jobs and pay of UK-born workers.'' Indeed, the authors noted that ''immigrants consume goods and services and this increased demand helps to create more employment opportunities.'' To assume otherwise is ''lump of labour fallacy'', the idea that the number of jobs in an area is fixed and immigrants push other job seekers out.

    This article was published online by Quartz on June 22, 2016
    Link to article here

    Related publications
    Brexit and the Impact of Immigration on the UK, Jonathan Wadsworth, Swati Dhingra, Gianmarco Ottaviano and John Van Reenen, CEP Brexit Analysis Series Paper No.05, May 2016
    Technical Appendix to CEP Brexit Analysis Series Paper No.05
    See the complete set of CEP Brexit Analysis research papers here

    Related links
    Jonathan Wadsworth webpage
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Labour Markets Programme webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 22/06/2016      [Back to the Top]

    TXFNews (Trade and Export Finance)

    How would Brexit affect UK trade?

    The UK Treasury's estimate forecasts trade volumes declining by between 14% and 19% by 2030 in comparison to their current trajectory, on the assumption that the UK agrees a bilateral trade deal with the EU similar to that recently agreed by Canada. Although, some believe this forecast a tad severe: Oxford Economics modelled the same scenario and came up with a 7% fall in volumes. The London School of Economics' Centre for Economic Performance predicts that, in the long term, lower trade with the EU could cost the UK as much as 9.5% of GDP.

    This article was published online by TXFNews on June 22, 2016
    Link to article here

    Related publications
    See the complete set of CEP Brexit Analysis research papers here

    Related links
    Swati Dhingra webpage
    Holger Breinlich webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 22/06/2016      [Back to the Top]

    Consultancy.uk

    Charles-Edouard Bouée reflects on the impact of a Brexit

    And while some experts argue that FDI is high in the UK due to a favourable business environment, others, such as the Centre for Economic Performance at the London School of Economics, suggest that ''being fully in the single market'' is what ''makes the UK an attractive export platform for multinationals as they do not face the potentially large costs from tariff and non-tariff barriers when exporting to the rest of the EU.''

    This article was published online by Consultancy.uk on June 22, 2016
    Link to article here

    Related publications
    See the complete set of CEP Brexit Analysis research papers here

    Related links
    Swati Dhingra webpage
    Holger Breinlich webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 22/06/2016      [Back to the Top]

    ProActiveInvestors

    10 ways Brexit will impact UK business

    The Institute for Fiscal Studies, the National Institute of Economic and Social Research and the Centre for Economic Performance have all predicted lower real wages in the event of Brexit, higher prices for goods and services, higher unemployment and higher borrowing costs. ''In our lifetimes we have never seen such a degree of unanimity among economists on a major policy issue'', the directors of the three institutions said in a joint statement released today.

    This article was published online by ProActiveInvestor on June 22, 2016
    Link to article here

    Related publications
    June 20, 2016
    CEP, NIESR and IFS blog
    Leaving the EU would almost certainly damage our economic prospects
    See the complete set of CEP Brexit Analysis research papers here

    Related links
    Swati Dhingra webpage
    Holger Breinlich webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 22/06/2016      [Back to the Top]

    Belfast Telegraph

    EU referendum: Think tanks unite to warn Brexit would damage UK

    A Leave vote in tomorrow's referendum would ''almost certainly make us financially worse off'' and could cut the UKs GDP by up to 8% - equivalent to £5,760 for every household in the country - a group of respected economic think tanks has warned.
    In a joint statement, the Institute for Fiscal Studies, National Institute of Economic and Social Research, and the Centre for Economic Performance said ''almost all those who have looked seriously'' at the consequences of Brexit agreed it would be highly likely to harm the UK's living standards.

    This article was published online by the Belfast Telegraph on June 22, 2016
    Link to article here

    Related publications
    June 20, 2016
    CEP, NIESR and IFS blog
    Leaving the EU would almost certainly damage our economic prospects
    See the complete set of CEP Brexit Analysis research papers here

    Related links
    Swati Dhingra webpage
    Holger Breinlich webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 22/06/2016      [Back to the Top]

    The Mail Online

    Michael Gove makes grovelling apology for comparing pro-EU experts to Nazi propagandists after Cameron accuses him of having 'lost it' during referendum battle

    In a dramatic escalation of Tory infighting earlier, Mr Cameron told Sky News: 'To hear the Leave campaign today sort of comparing independent experts and economists to Nazi sympathisers - I think they have rather lost it. 'These people are independent - economists who have won Nobel prizes, business leaders responsible for creating thousands of jobs, institutions that were set up after the war to try to provide independent advice. It is right to listen.' In a joint statement, three respected economic think-tanks have said 'almost all those who have looked seriously' at the consequences of Brexit agreed it would be highly likely to harm the living standards of UK households. The Institute for Fiscal Studies (IFS), National Institute of Economic and Social Research (NIESR) and Centre for Economic Performance (CEP) said: 'In our lifetimes we have never seen such a degree of unanimity among economists on a major policy issue.'

    This article was published by The Mail Online on June 22, 2016
    Link to article here

    Related publications
    June 20, 2016
    CEP, NIESR and IFS blog
    Leaving the EU would almost certainly damage our economic prospects
    See the complete set of CEP Brexit Analysis research papers here

    Related links
    Swati Dhingra webpage
    Holger Breinlich webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 22/06/2016      [Back to the Top]

    Sky News

    News at 10pm - EU: In or Out?

    Professor John Van Reenen, Director of the Centre for Economic Performance on panel discussing the economics of Brexit.

    The discussion was broadcast by Sky News at 10pm on June 22, 2016
    Link to broadcast here

    Related publications
    See the complete set of CEP Brexit Analysis research papers here

    Related links
    John Van Reenen webpage
    Growth Programme webpage


    News Posted: 22/06/2016      [Back to the Top]

    Juice Brighton (Radio) - News P.M.

    Gove has 'lost it' over Nazi comparisons

    The Institute for Fiscal Studies (IFS), National Institute of Economic and Social Research (NIESR) and Centre for Economic Performance (CEP) ...

    This article was published online by Juice Brighton (Radio) on June 22, 2016
    Link to broadcast here

    Related publications

    Related publications
    Full series of CEP Brexit Analyses can be seen here

    Related links
    Holger Breinlich webpage
    Swati Dhingra webpage
    Saul Estrin webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Jonathan Wadsworth webpage
    Labour Markets Programme webpage
    Growth Programme webpage
    Trade Programme webpage


    News Posted: 22/06/2016      [Back to the Top]

    New Statesman

    Never mind a Brexit recession, Leave voters don't believe in climate change

    Facts appear not to be a major priority for many Leave voters. That is clear when you look at science. In a ComRes poll of 1,616 prospective voters, Leave supporters were revealed to be much more likely to question science, climate change and evolution. ... Drawing the line directly from science to the uncomfortable referendum debate we find ourselves in may not be clear cut. But the case of NHS statistics show the way people choose to judge - or not to judge - facts has everything to do with the referendum debate. After all, there is overwhelming consensus of the damage Britain could do to its economy by leaving the EU. There is evidence from the Bank of England, HM Treasury, the International Monetary Fund, the OECD, the National Institute of Economic and Social Research, PwC, Oxford Economics, the Centre for Economic Performance and others.

    This article was published online by the New Statesman on June 22, 2016
    Link to article here

    Related publications
    Full series of CEP Brexit Analyses can be seen here

    Related links
    Holger Breinlich webpage
    Swati Dhingra webpage
    Saul Estrin webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Jonathan Wadsworth webpage
    Labour Markets Programme webpage
    Growth Programme webpage
    Trade Programme webpage


    News Posted: 22/06/2016      [Back to the Top]

    The Wall Street Journal

    Brexit's real impact would be gradual and global

    The Center for Economic Performance at the London School of Economics finds that EU immigrants to Britain are better educated and more likely to ...

    This article was published online by The Wall Street Journal on June 22, 2016
    Link to article here [Subscription needed to access full article.]

    Also in
    The Australian
    Brexit's real impact would be gradual and global

    Related publications
    Brexit and the Impact of Immigration on the UK, Swati Dhingra, Gianmarco Ottaviano, John Van Reenen and Jonathan Wadsworth, CEP Brexit Analysis No.05, May 2016
    Full series of CEP Brexit Analyses can be seen here

    Related links
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    John Van Reenen webpage
    Jonathan Wadsworth webpage
    Labour Markets Programme webpage
    Growth Programme webpage
    Trade Programme webpage


    News Posted: 22/06/2016      [Back to the Top]

    The Week

    The EU isn't snookering Britain. Britain is hoodwinking the EU

    Britain never joined the euro currency union, freeing it of all sorts of complicated policy commitments that the rest of the EU is obliged to abide by. But despite staying on the pound, Britain still has full access to Europe's ''single market''. Essentially, this single market allows all EU member countries to move goods, services, capital, and people between each other without barrier, tax, or tariff. ''That single market is about half a billion people,'' [John] Van Reenen said. It's an open question just how much benefit national economies derive from being able to participate in this sort of free trade. But they clearly derive some benefit. And Van Reenen's group thinks it's a lot.

    This article was published online by The Week on June 22, 2016
    Link to article here

    Related publications
    Brexit: the final assessment, John Van Reenen. Article in CentrePiece Volume 21, Issue 1, Summer 2016
    BREXIT 2016: Policy Analysis from the Centre for Economic Performance, Holger Breinlich, Swati Dhingra, Saul Estrin, Hanwei Huang, Gianmarco Ottaviano, Thomas Sampson, John Van Reenen and Jonathan Wadsworth, June 2016

    Related links
    John Van Reenen webpage
    Growth Programme webpage


    News Posted: 22/06/2016      [Back to the Top]

    Full Fact

    The economic consequences of leaving the EU - statement from IFS, NIESR, and CEP

    Three leading economic institutes have made a joint statement about what they think will happen if we leave the EU. We have published what they said below.

    Here's what the IFS, NIESR, and the Centre for Economic Performance said, in their own words:

    John van Reenen, director of the CEP said: “Research at both CEP and NIESR shows that the UK economy would do worse outside the EU than in it. Trade as an engine of growth would stall. Indeed virtually all the economic work of which we are aware tells the same story – there really is no serious doubt that leaving would be taking a big risk with the economy.”


    News Posted: 21/06/2016      [Back to the Top]

    The Daily Mirror

    Brexit 'would cost Brits £580 a year as price of food, drink, petrol and clothing rocket'

    The heads of three leading economic think-tanks warned of the dire consequences of leaving the EU. The analysis by National Institute of Economic and Social Research, Institute for Fiscal Studies and Centre for Economic Performance said Brexit would shrink the economy by between 1% and 3% by 2020 and between 2% and 8% smaller by 2030.

    This article was published online by The Daily Mirror on June 21, 2016
    Link to article here

    Related articles
    June 20, 2016
    CEP, NIESR and IFS blog
    Leaving the EU would almost certainly damage our economic prospects
    The complete set of CEP Brexit Analysis papers is available in one publication. Download from here.

    Related links
    Holger Breinlich webpage
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Jonathan Wadsworth webpage
    Labour Markets Programme webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 21/06/2016      [Back to the Top]

    Sputnik News

    Three UK economic think tanks issue final warning against Brexit

    Three UK economic think tanks issued their final warning about the countrys post-Brexit future just days before the referendum on EU membership, local media reported Tuesday. MOSCOW (Sputnik) - The think tanks include the Institute for Fiscal Studies (IFS), the National Institute of Economic and Social Research (NIESR) and the Centre for Economic Performance (CEP).

    This article was published online by Sputnik News on June 21, 2016
    Link to article here

    Related publications
    June 20, 2016
    CEP, NIESR and IFS blog
    Leaving the EU would almost certainly damage our economic prospects
    See the complete set of CEP Brexit Analysis research papers here

    Related links
    Swati Dhingra webpage
    Holger Breinlich webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 21/06/2016      [Back to the Top]

    The Independent

    EU referendum: polls suggest Brexit chances are split 50-50, says expert

    As the rival campaigns entered the final straight, independent economists from three of Britain's leading institutions issued a final warning that a vote for Brexit would hit wages and lead to higher retail prices and borrowing costs. In a joint statement, the directors of Institute for Fiscal Studies (IFS), the National Institute of Economic and Social Research (NIESR) and the Centre for Economic Performance (CEP) said there had never ''in our lifetimes'' been such agreement among economists on a major policy issue.

    This article was published online by the Independent on June 21, 2016
    Link to article here

    Related publications
    June 20, 2016
    CEP, NIESR and IFS blog
    Leaving the EU would almost certainly damage our economic prospects
    See the complete set of CEP Brexit Analysis research papers here

    Related links
    Swati Dhingra webpage
    Holger Breinlich webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 21/06/2016      [Back to the Top]

    Al Jazeera

    Transcript: Norman Lamont on the Brexit and the EU

    A study by the London School of Economics found that BREXIT could lead to a fall in national income equivalent to that of the financial crash of 2008. Facts?

    This article appeared on Al Jazeera on 21 June 2016. Link to article

    Related publications
    See the complete set of CEP Brexit Analysis research papers here

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage
    News Posted: 21/06/2016      [Back to the Top]

    The Indian Express

    Brexit: Beckham says remain

    Leading economic institutions in Britain – the Institute for Fiscal Studies, NIESR, and the London School of Economics’ Centre for Economic Performance – have warned quitting the EU’s single market would make the UK “financially worse off"

    This article appeared in The Indian Express on 21 June 2016. Link to article

    Related publications
    See the complete set of CEP Brexit Analysis research papers here

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage
    News Posted: 21/06/2016      [Back to the Top]

    Daily Mirror

    How does Europe add up in numbers as Britain prepares for EU Referendum

    £350 - the amount the London School of Economics says you save every year from lower prices thanks to EU membership

    This article appeared in the Daily Mirror on 21 June 2016. Link to article

    Related publications
    See the complete set of CEP Brexit Analysis research papers here

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage
    News Posted: 21/06/2016      [Back to the Top]

    New York Online

    How Donald Trump Explains ‘Brexit'

    In the most pessimistic scenario modeled by researchers for the London School of Economics, output would ultimately take a 9.5 percent hit, “a loss of a similar size to that resulting from the global financial crisis of 2008-09.”

    This article appeared in New York Online on 21 June 2016. Link to article

    Related publications
    See the complete set of CEP Brexit Analysis research papers here

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage
    News Posted: 21/06/2016      [Back to the Top]

    The Independent

    EU referendum: UK's top economic experts issue joint warning against Brexit

    Challenging Leave campaign claims that Britain’s economy would not suffer from Brexit, the Institute for Fiscal Studies (IFS), the National Institute of Economic and Social Research (NIESR) and the Centre for Economic Performance (CEP) said that “almost all of those who have looked seriously at this issue” were predicting lower real wages in event of Brexit, higher prices for goods and services, higher borrowing costs and higher unemployment.

    This article appeared in the Independnent on 21 June 2016. Link to article

    Related publications
    See the complete set of CEP Brexit Analysis research papers here

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage
    News Posted: 21/06/2016      [Back to the Top]

    Parliament Magazine

    Brexit would 'almost certainly' harm UK's economy, say economic trio

    The trio, Jagjit Chadha, the director of the National Institute of Economic and Social Research, Paul Johnson, the director of the Institute for Fiscal Studies and John Van Reenen, the director of the Centre for Economic Performance at the London School of Economics, published a joint statement today (20 June), outlining their collective conclusions on the likely consequences of a Brexit. Leaving the EU, they argue, would, relative to staying in, likely result in lower real wages, a reduction in the value of the pound resulting in price hikes, as well as higher borrowing and lower public spending or higher taxes. The UK would also see unemployment rise in the short term.

    This article appeared in Parliament Magazine on 21 June 2016. Link to article

    Related publications
    See the complete set of CEP Brexit Analysis research papers here

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage
    News Posted: 21/06/2016      [Back to the Top]

    The Independent

    Brexit: Will it improve living standards in the UK?

    The second part of the argument is that in the longer term – over the next 15 or so years - not being in the European Union would mean the economy does not grow as much as it otherwise would. This is the analysis that has been made by independent organisations such as the London School of Economics and The National Institute of Economic and Social Research (NIESR).

    This article appeared in the Independent on 21 June 2016. Link to article

    Related publications
    See the complete set of CEP Brexit Analysis research papers here

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage
    News Posted: 21/06/2016      [Back to the Top]

    The Independent

    EU referendum: How would leaving the EU work – and how would it affect you in the long term?

    They do not say we would be poorer than we are now, but that we would be poorer than we would otherwise be. Estimates of the long-term effect range from 3 per cent of national income (Oxford Economics) to 8 per cent (London School of Economics).

    This article appeared in the Independent on 21 June 2016. Link to article

    Related publications
    See the complete set of CEP Brexit Analysis research papers here

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage
    News Posted: 21/06/2016      [Back to the Top]

    Evening Standard

    Leaving the EU single market would be a disaster for London

    The evidence from independent, respected experts is overwhelming. They share the view that the UK will face a severe economic blow in the event of leaving the EU, leading to fewer jobs and lower public spending. The IMF, the Bank of England, the Treasury and the London School of Economics are united in their views: the UK economy will shrink if we leave.

    This article appeared in the Evening Standard on 21 June 2016. Link to article

    Related publications
    See the complete set of CEP Brexit Analysis research papers here.

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage

    News Posted: 21/06/2016      [Back to the Top]

    LSE British Politics and Policy blog

    Why leaving the EU would almost certainly damage our economic prospects

    The economic consequences of leaving the EU have been a central focus of the referendum campaign. As June 23 draws near, Jagjit Chadha, Paul Johnson and John Van Reenen bring together the conclusions from their research on the likely consequences, and reflect on some of the claims made.

    This article was published online by the LSE British Politics and Policy blog on June 21, 2016
    Link to article here

    Related links
    John Van Reenen webpage
    Growth Programme webpage

    Link to the press release here


    News Posted: 21/06/2016      [Back to the Top]

    Britain more prosperous ''IN''

    The Telegraph

    We are economists who care about Britain and its future. We feel compelled to speak out on the risks of Leaving and opportunities from Remaining in the EU. If Britain votes to Leave we believe that:

    • A recession causing job losses will become significantly more likely due to the shock and uncertainty of Brexit. With interest rates near zero and debt still high, the Bank of England and Government would have limited ability to prevent such a recession.

    • A drop in the pound and increased tariffs on imports will cause the costs of everyday goods to go up increasing inflation.

    • Investment in the UK will drop harming innovation and future job growth.

    • These impacts will fall most heavily on households with middle and low incomes.

    • Less growth means less government revenue which means higher taxes and less to spend on services like the NHS.

    Leave will say these points are 'Project Fear'. We say they are 'Project Reality'.

    This open letter was published by The Telegraph on June 21, 2016
    Link to the letter here

    Related links
    Holger Breinlich webpage
    Richard Layard webpage
    Stephen Machin webpage
    Sandra McNally webpage
    John Van Reenen webpage
    Education and Skills Programme webpage
    Growth Programme webpage
    Labour Markets Programme webpage
    Trade Programme webpage
    Wellbeing Programme webpage


    News Posted: 21/06/2016      [Back to the Top]

    FT.com

    Asian leaders urge UK to stay in EU

    The UK is also the top destination for foreign direct investment in Europe and ranked as one of the most attractive FDI markets in the world. But investment would tumble at least 22 per cent over the next decade in the event of Brexit, according to a recent study by the Centre for Economic Performance at the London School of Economics and Political Science.

    This article was published by FT.com on June 20, 2016
    Link to article here

    Related publications
    The impact of Brexit on foreign investment in the UK, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis Series Paper No.03, April 2016
    See Technical Appendix to CEP Brexit Analysis Series Paper No.3 here
    The consequences of Brexit for UK trade and living standards, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis Series Paper No.02, March 2016
    See Technical Appendix to CEP Brexit Analysis Series Paper No.2 here

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 20/06/2016      [Back to the Top]

    Western Daily Press

    Being in the UK works better for jobs and business

    The IMF, the Bank of England, the Treasury, the OECD, the London School of Economics and many more are...
    (no link available)

    This article was published by the Western Daily Press on June 20, 2016
    [No link available]

    Related publications
    See the complete set of CEP Brexit Analysis research papers here.

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Labour Markets Programme webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 20/06/2016      [Back to the Top]

    The Parliament Magazine

    Brexit would 'almost certainly' harm UK's economy, say economic trio

    Three leading British economists have warned that leaving the EU would 'almost certainly' damage the UK's economic prospects.
    The trio, Jagjit Chadha, the director of the National Institute of Economic and Social Research, Paul Johnson, the director of the Institute for Fiscal Studies and John Van Reenen, the director of the Centre for Economic Performance at the London School of Economics, published a joint statement today (20 June), outlining their collective conclusions on the likely consequences of a Brexit. Leaving the EU, they argue, would, relative to staying in, likely result in lower real wages, a reduction in the value of the pound resulting in price hikes, as well as higher borrowing and lower public spending or higher taxes. The UK would also see unemployment rise in the short term. The three economists added that their conviction that British citizens would be worse off financially if the UK opted to leave the EU, wasn't just based on research from their own institutes, ''but the work of almost all those who have looked seriously at this issue''.

    This article was published online by The Parliament Magazine on June 20, 2016
    Link to article here

    Related publications
    Leaving the EU would almost certainly damage our economic prospects, Jagjit Chadha, Paul Johnson and John Van Reenen. Statement from NIESR, the IFS and the Centre for Economic Performance, 21 June 2016.

    Related links
    John Van Reenen webpage
    Growth Programme webpage


    News Posted: 20/06/2016      [Back to the Top]

    Herald Scotland

    Forget project fear

    The most serious problem of staying outside any EU trade agreement is the serious impact this might have on foreign direct investment into the UK. Being in the single market makes the UK attractive as a base for exporters. A Centre for Economic Performance report estimates that the UK has around £1 trillion of foreign direct investment, of which half is from other EU countries, and much of the rest uses the UK as a platform to the single market.

    This article was published by the Herald Scotland on June 19, 2016
    Link to article here

    Related publications
    The impact of Brexit on foreign investment in the UK, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis Paper No.03, April 2016
    The consequences of Brexit for UK trade and living standards, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis Paper No.02, March 2016
    See all of the Brexit Analysis Series here

    Related links
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 19/06/2016      [Back to the Top]

    The Economist

    Brexit: What if?

    All or nothing at all
    What sort of deal might that new leader try to get? Some want no deal at all. A group called Economists for Brexit (EFB) suggests simply abolishing all import tariffs. The ensuing rise in trade, it says, would boost GDP by 4%. Yet this prediction relies on small changes in trade costs having implausibly large effects on how much trade goes on, say researchers at the London School of Economics. Besides, the EFB assumptions are politically implausible.

    This article was published online by The Economist on June 18, 2016
    Link to article here

    Related publications
    See the complete set of CEP Brexit Analysis research papers here.

    Related links
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 18/06/2016      [Back to the Top]

    The Economist

    The Battle of Evermore

    But on Brexit they do not. A host of studies in Britain—by his own institute, the Treasury, the Institute of Fiscal Studies, Oxford Economics, PricewaterhouseCoopers, the Centre for European Reform and the Centre for Economic Performance at the London School of Economics—agree with international bodies—the IMF and the OECD rich-country think-tank—that Brexit would mean less trade, lower foreign direct investment and slower productivity growth.

    This article appeared in the Economist on 18 June 2016 Link to article

    Related publications
    See the complete set of CEP Brexit Analysis research papers here .

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage

    News Posted: 18/06/2016      [Back to the Top]

    New Zealand Herald online - Business

    Brian Fallow: Nostalgia no basis for policy

    Then there is the question of the effect on Britain's trade with other regions if it is no longer governed by agreements negotiated by the European Union. Eurosceptics assume those agreements dilute Britain's interests but research by the London School of Economics found that the EU's trade deals tended to benefit Britain more than other European countries.

    This article was published by the New Zealand Herald online on June 17, 2016
    Link to article here

    Related publications
    The consequences of Brexit for UK trade and living standards, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis Series Paper No.02, March 2016
    See Technical Appendix to CEP Brexit Analysis Series Paper No.2 here

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 17/06/2016      [Back to the Top]

    Oye! Times (Canada)

    Oye! News from Europe: Brexit does anyone win?

    As June 23 looms closer and closer and Britain makes the ultimate decision whether it should stay in the European Union or go it alone, a recent thorough analysis by Holger Breinlich, Swati Dhingra, Thomas Sampson and John Van Reenen at the Centre for Economic Performance (CEP) at the London School of Economics looks at what various changes in income various income groups in the United Kingdom will experience if the UK decides to cast its membership in the European Union aside on June 23, 2016.

    This article was published online by Oye! Times (Canada) on June 17, 2016
    Link to article here

    Related publications
    BREXIT 2016: Policy Analysis from the Centre for Economic Performance, Holger Breinlich, Swati Dhingra, Saul Estrin, Hanwei Huang, Gianmarco Ottaviano, Thomas Sampson, John Van Reenen and Jonathan Wadsworth, CEP Brexit Analysis Paper No.08, June 2016
    Who Bears the Pain? How the costs of Brexit would be distributed across income groups, Holger Breinlich, Swati Dhingra, Thomas Sampson and John Van Reenen, CEP Brexit Analysis Paper No.07, June 2016

    Related links
    Holger Breinlich webpage
    Swati Dhingra webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 17/06/2016      [Back to the Top]

    Full Fact

    The EU referendum, the economy and you

    A different approach is to estimate how prices for different things would be affected, and then compare this to spending patterns across different income brackets and household types. Using this approach, the Centre for Economic Performance have suggested that the costs of leaving the EU would be distributed fairly equally across different types of household.


    News Posted: 16/06/2016      [Back to the Top]

    The Daily Mail online

    Things you need to read about Brexit: Best articles to help you decide

    Things to read about Brexit

    Below is a selection of informative things to read about Brexit that can help you decide. Please suggest your own in comments, but you cannot post links there. You can send links to editor@thisismoney.co.uk with Brexit articles in the headline and we will see if they are worth adding.
    LSE professor: Why I will vote Remain in the referendum
    London School of Economics Nicholas Barr runs through his thoughts with some good facts and explanations that weigh up key issues.

    This article was published by The Daily Mail online on June 16, 2016
    Link to article here

    Related articles
    Letter to friends: this is why I will vote Remain in the referendum, Nicholas Barr, LSE BrexitVote blog on May 27, 2016 cites CEP Brexit research.

    Related publications
    See the complete set of CEP Brexit Analysis research papers here.

    Related links
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 16/06/2016      [Back to the Top]

    The New Yorker

    Murder of British M.P. heightens uncertainty over Brexit vote

    The failure to make a case for the E.U. had left a big opportunity for Johnson and Nigel Farage, the head of the U.K. Independence Party, to argue that Britain doesn't get anything out of its membership except bureaucratic diktats from Brussels, and boatloads of immigrants from Poland and other countries in Eastern Europe, who fill the welfare rolls and depress wages. These claims are largely false: a recent paper by three economists at the London School of Economics concluded, ''EU immigrants are more educated, younger, more likely to be in work and less likely to claim benefits than the UK-born.'' But, as the polls indicate, the anti-E.U. fabrications are widely believed.

    This article was published online by the New Yorker on June 16, 2016
    Link to article here

    Related publications
    Brexit and the Impact of Immigration on the UK, Swati Dhingra, Gianmarco Ottaviano, John Van Reenen and Jonathan Wadsworth, CEP Brexit Analysis Paper No.05, May 2016

    Related links
    Jonathan Wadsworth webpage
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    John Van Reenen webpage
    Labour Markets Programme webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 16/06/2016      [Back to the Top]

    The Independent

    Leave to exit: how your money might be affected by Brexit

    Last year, a report from the Bank of England supported his comment, suggesting that the wages of low-paid employees in catering, hospitality and care have been driven down by increased competition from EU workers.
    However, the Centre for Economic Performance at the London School of Economics, claimed that areas of the UK with large recent increases in EU immigration did not suffer greater falls in pay as a result, but that wages fell as a result of the global financial crisis. It added: ''Immigrants consume goods and services and this increased demand helps to create more employment opportunities.''

    This article was published by The Independent on June 15, 2016
    Link to article here

    Related publications
    Brexit and the Impact of Immigration on the UK, Jonathan Wadsworth, Swati Dhingra, Gianmarco Ottaviano and John Van Reenen, CEP Brexit Analysis Series No.5, May 2016
    See the complete set of CEP Brexit Analysis research papers here.

    Related links
    Jonathan Wadsworth webpage
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    John Van Reenen webpage
    Labour Markets Programme webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 15/06/2016      [Back to the Top]

    FT.com

    Brexit: what is in store for the economy

    The thinking behind the predictions about Britain's future outside the EU
    Very costly in all scenarios: Centre for Economic Performance
    The prediction: A hit to trade in all likely scenarios will bring GDP 6.3-9.5 per cent lower by 2030 than if the UK stayed in.
    The reasoning Even if the UK strikes a free-trade agreement with the EU, non-tariff barriers - such as rules of origin regulations - would hamper growth. The worst estimates assume the economy will become less efficient over the long term due to less competition from EU nations.
    Criticism Does not assume any impact due to change in migration or a reduction in regulations.

    This article was published by the FT.com on June 15, 2016
    Link to article here

    Related publications
    See the complete set of CEP Brexit Analysis research papers here

    Related links
    Swati Dhingra webpage
    Holger Breinlich webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 15/06/2016      [Back to the Top]

    Neue Zurcher Zeitung

    Brexit-Szenarien: Was der Brexit fur die EU-Wirtschaft bedeuten wurde

    Relevant studies, among other things by the Bertelsmann Foundation in collaboration with the Ifo Institute, the Center for economic performance at the London School of Economics and the rating agency Standard & Poor's, come in the tendency to similar results: the economic consequences would be for the EU-27 is less severe than for Britain itself, but on balance but negative.

    This article was published online by Neue Zurcher Zeitung (Germany) on June 14, 2016
    Link to article here

    Related publications
    See the whole series of CEP Brexit Analysis papers here

    Related links
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Growth Programme webpage
    Trade Programme webpage


    News Posted: 14/06/2016      [Back to the Top]

    The Telegraph

    UK voters back Norway-style Brexit, poll reveals

    Experts at the Treasury, the National Institute of Economic and Social Research (NIESR), and the London School of Economics have all found that remaining a part of the EEA would pose the least severe economic risk to the UK after a decision to split from the EU.

    This article was published online by The Telegraph on June 11, 2016
    Link to article here

    Related publications
    Life after Brexit : What are the UK's options outside the European Union?, Swati Dhingra and Thomas Sampson, CEP Brexit Analysis Series Paper No.01, February 2016
    The complete set of CEP Brexit Analysis papers is available in one publication. Download from here.

    Related links
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 11/06/2016      [Back to the Top]

    The Times

    Making pots of money for yourself does not make you a wealth creator

    Financial engineering has created a rentier class, a modern feudal system, and the biggest beneficiaries of all that extra debt have been the bankers. John Van Reenen and Brian Bell, of the Centre for Economic Performance, have estimated that 60 per cent of the rise in wage inequality in the decade to 2008 was ''due to the financial sector''.

    The article was published by The Times on June 11, 2016
    Link to article here

    Related publications
    Bankers and their bonuses, Brian Bell and John Van Reenen, Centre for Economic Performance Occasional Paper No.35, February 2013
    Extreme Wage Inequality: Pay at the Very Top, Brian Bell and John Van Reenen, Centre for Economic Performance Occasional Paper No.34, Feburary 2013

    Related links
    Brian Bell webpage
    John Van Reenen webpage
    Growth Programme webpage


    News Posted: 11/06/2016      [Back to the Top]

    The Economist

    Shocking shopping

    A bad few days for the image of Britain's retail sector
    PARLIAMENTARY committees are normally sleepy affairs. Backbench MPs get the chance to grill the occasional bigwig. By replying to questions succinctly witnesses typically escape without letting slip anything too revealing. Those in front of the business select committee this week took a different approach. On June 6th Mike Ashley, the boss of the Sports Direct sportswear chain, provided evidence about working conditions in his shops. He admitted that his company was under government investigation over allegations he had paid workers less than the minimum wage, ... Next up, on June 8th, were former executives of BHS, a chain of fusty department stores that filed for administration in April ... The overall impression in both cases was of a company out of control. Indeed, Mr Ashley hinted as much, admitting he may have struggled to keep on top of things as his firm grew from ''an inflatable [dinghy]'' to an ''oil tanker''. Founders who stay in charge for too long are a common problem for British firms, says John Van Reenen of the London School of Economics Centre for Economic Performance, and poor management partly explains low British productivity.

    This article was published by The Economist on June 11, 2016
    Link to article here

    Related links
    John Van Reenen webpage
    Growth Programme webpage
    See all publications from CEP's Growth Programme here


    News Posted: 11/06/2016      [Back to the Top]

    LSE British Politics and Policy blog

    Vote Leave's anti-immigration system is deeply flawed

    Study after study confirms that EU migrants have an overwhelmingly positive effect on the British economy. They have a higher employment rate (78.2%) than people born in the UK (72.5%), those from Poland and other A8 accession economies especially so (81.9%). Their hard work neither deprives British workers of jobs nor depresses local wages, as a new study by the London School of Economics' Centre for Economic Performance (CEP) shows. On the contrary, EU migrants tend to enhance the productivity of British workers, and hence their pay.

    This article was published online by the LSE British Politics and Policy blog on June 10, 2016
    Link to article here

    Related publications
    Brexit and the Impact of Immigration on the UK, Jonathan Wadsworth, Swati Dhingra, Gianmarco Ottaviano and John Van Reenen, CEP Brexit Analysis Paper No.05, May 2016
    Why immigration is no reason to leave the EU, Swati Dhingra, Gianmarco Ottaviano, John Van Reenen and Jonathan Wadsworth. Article in CentrePiece Volume 21, Issue 1, Summer 2016

    Related links
    Jonathan Wadsworth webpage
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Labour Markets Programme webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 10/06/2016      [Back to the Top]

    BBC News - Business

    Using jelly beans to explain productivity

    Comedian Colm O'Regan takes a look at productivity and its decline in the UK since the financial crisis in 2008. He speaks to Anna Valero from the London School of Economics and Richard Cullen, managing director of The Jelly Bean Factory.

    The interview was broadcast on BBC News Business on June 10, 2016
    Link to programme here

    Related links
    Anna Valero webpage
    Growth Programme webpage
    Anna Valero CEP publications webpage


    News Posted: 10/06/2016      [Back to the Top]

    The Independent

    Brexit job losses are already impacting, recruiters say

    The slowdown in hiring during the months of uncertainty before the poll will “come up in the GDP numbers,” said Swati Dhingra, an assistant professor at the London School of Economics.

    This article appeared in the Independent on 10 June 2016. Link to article

    Related publications
    See the complete set of CEP Brexit Analysis research papers here

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage
    News Posted: 10/06/2016      [Back to the Top]

    LSE EUROPP - European Politics and Policy blog

    Scenarios of a new UK-EU relationship: A 'soft' Brexit

    What consequences will Britain's EU referendum have for both the UK and the rest of Europe? In a series of papers published as a collaboration between EUROPP and CIDOB (the Barcelona Centre for International Affairs), LSE authors analyse the prospects for three scenarios - a Bremain, a 'soft' Brexit and a 'harsh' Brexit. Swati Dhingra discusses what would happen in the case of a 'soft' Brexit, which is defined as the UK exiting the EU without a significant deterioration in relations between Britain and other EU countries. The full papers are available here.

    This article was published online by LSE's EUROPP - European Politics and Policy - blog on June 9, 2016
    Link to article here

    Related publications
    BREXIT 2016: Policy Analysis from the Centre for Economic Performance, Holger Breinlich, Swati Dhingra, Saul Estrin, Hanwei Huang, Gianmarco Ottaviano, Thomas Sampson, John Van Reenen and Jonathan Wadsworth, CEP Brexit Analysis Paper No.08, June 2016
    Life after Brexit : What are the UK’s options outside the European Union?, Swati Dhingra and Thomas Sampson, CEP Brexit Analysis Paper No.01, February 2016

    Related links
    Swati Dhingra webpage
    Trade Programme webpage


    News Posted: 09/06/2016      [Back to the Top]

    The Financial Times

    Brexiters' idea of unilateral free trade is a dangerous fantasy

    Economists for Brexit, argues that such an alternative exists. It rejects post-exit deals with the EU and instead recommends unilateral free trade and reliance for market access on the rules of the World Trade Organisation. Does this make sense? The short answer is: no. The longer one is that unilateral free trade would not be economically superior to EU membership, would be less simple than imagined and would also be politically unacceptable. ...

    Start with the economics. Patrick Minford of Cardiff University suggests that, under this option, UK economic welfare would rise by 4 per cent after Brexit. The economy would also end up specialising in services and lose manufacturing. In analysing the same option, economists at the London School of Economics reach a quite different conclusion: a reduction of 2.3 per cent in welfare, only marginally less than the 2.6 per cent reduction they believe would follow a Brexit without such unilateral reductions in tariffs.

    This article was published by The Financial Times on June 9, 2016
    Link to article here

    Related publications
    Economists for Brexit: A Critique, Thomas Sampson, Swati Dhingra, Gianmarco Ottaviano and John Van Reenen, CEP Brexit Analysis Paper No.6, May 2016
    The complete CEP Brexit Analysis Series is available online here

    Related links
    Thomas Sampson webpage
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    John Van Reenen webpage
    Growth Programme webpage
    Trade Programme webpage


    News Posted: 09/06/2016      [Back to the Top]

    Chronicle Live (Newcastle)

    EU referendum: Are we really goingto rip up all our trade deals and start again?

    The London School of Economics' Centre for Economic Performance calculates long-term costs to Britain of lower trade with the EU could be as high as 9.5% of GDP. Leave campaign-supporting economists have as yet not done detailed analyses.

    This article was published by the Chronicle Live (Newcastle) on June 9, 2016
    Link to article here

    Related publications
    The consequences of Brexit for UK trade and living standards, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis No.02, March 2016.
    Download the accompanying Technical Paper here

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Growth Programme webpage
    Trade Programme webpage


    News Posted: 09/06/2016      [Back to the Top]

    The Washington Post

    A quick Brexit or a delayed departure? Here's where it gets tricky for businesses

    Perhaps even more convincing is the growing body of macroeconomic research — much of it conducted by economist Nicholas Bloom with co-authors — that concludes that firms and consumers overall are less responsive to economic incentives in the face of high levels of uncertainty. This reflects research on how levels of policy uncertainty in many major high-income economies have risen over time, including in the period since the onset of the Great Recession in 2008-2009. Thus the Brexit uncertainty — which may continue until the U.K. formally strikes a new regulatory and trade deal with the E.U. — means that even U.K. monetary and fiscal policy will be less than 100 percent effective, just when such policies might be most needed to ward off what could turn out to be a severe recession.

    This article appeared in the Washington Post on 7 July 2016. Link to article

    Related Publications
    Measuring Economic Policy Uncertainty Scott R. Baker, Nicholas Bloom and Steven J. Davis, Centre for Economic Performance Discussion Paper No.1379, October 2015
    Fluctuations in Uncertainty Nicholas Bloom, Journal of Economic Perspectives, Volume 28, No.2, Spring 2014
    Fluctuations in Uncertainty , Nicholas Bloom, Centre for Economic Performance Occasional Paper No.38, December 2013

    Related links
    Nicholas Bloom webpage
    Growth Programme webpage
    News Posted: 07/06/2016      [Back to the Top]

    Guardian

    Guardian Small Business Network, EU referendum panel: Would Brexit make UK businesses less competitive?

    In this week's EU referendum Q&A our panel discuss how a Brexit could affect the costs facing UK businesses:
    Would UK businesses be more or less competitive in the global market if we choose to leave?

    Swati Dhingra
    Assistant professor at the department of economics at the London School of Economics, researching international economics, globalisation and industrial policy, she is co-author of Life after Brexit, a report by LSE's centre for economic performance
    After Brexit UK businesses would be less competitive within the EU market because they would face higher non-tariff barriers such as rules of origin and the costs of divergence in regulations. Potentially, UK businesses would also face tariffs when exporting to the EU and to countries with which the EU has negotiated trade agreements. If the business relies heavily on imports from the EU or the EU's trade agreement partners, then it would have to pay higher costs for its inputs. The EU is the UK's biggest trade and investment partner, so these higher trade barriers would make UK businesses less competitive. ...

    John Van Reenen
    Director of the Centre for Economic Performance, London School of Economics.
    In the short run, it is likely there would be negative shocks as uncertainty spikes while we negotiate new trading arrangements with the EU and the rest of the world. This has potential to hurt investment and hiring. In the longer run, there would be an increase in trade costs as we would have a looser relationship with the EU single market. This could potentially cause a fall in overall trade and in foreign investment, which could in turn depress productivity. Second, access to EU migrants, who provide a valuable source of skills to EU businesses, would be restricted. ...

    This article was published online by the Guardian on June 7, 2016
    Link to article here

    Related publications
    See the complete set of CEP Brexit Analysis research papers here

    Related links
    Swati Dhingra webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 07/06/2016      [Back to the Top]

    BBC Radio Cambridgeshire

    Brian Bell interview

    Brian Bell from CEP discusses report that shows foreigners do not commit any more crimes than the rest of the population.

    This programme was broadcast on BBC Radio Cambridgeshire on 7 June 2016. Link

    Related Links
    Brian Bell webpage
    Growth webpage

    News Posted: 07/06/2016      [Back to the Top]

    Gulf Times

    A British test of reason at June 23 referendum

    But lately, as John Van Reenen of the London School of Economics recently put it, the economic case for Brexit has been largely missing in action. Its advocates are at pains to explain what kind of trade and partnership agreements, if any, Britain could enter into with the EU, much less how those agreements would be superior to the current arrangement.

    This article appeared in the Gulf Times on 6 June 2016. Link to article

    Related publications
    See the complete set of CEP Brexit Analysis research papers here

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage
    News Posted: 06/06/2016      [Back to the Top]

    London Loves Business

    5 reasons the UK leaving the EU would be a DISASTER

    A report by the Centre for Economic Performance (CEP) at the London School of Economics released last week published similar findings. The report said that in an “optimistic” scenario, the UK leaving the EU would knock off £850 per household. In a “pessimistic” scenario with larger increases in trade costs, Brexit will lower average incomes by £1,700 per household.

    This article appeared in London Loves Business on 6 June 2016. Link to article

    Related publications
    See the complete set of CEP Brexit Analysis research papers here

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage

    News Posted: 06/06/2016      [Back to the Top]

    The Daily Mirror

    The 6 experts saying Brexit will cost you - and the 1 that disagrees

    Numbers are being thrown around by the Vote Leave and Vote Remain campaigns like they're going out of fashion - but what do the experts say and can we trust them?
    Six out of seven reports predict a Brexit will hurt us for years to come. Six out of seven reports say families will lose thousands of pounds a year. Hang on, we hear the Brexiteers say. Who wrote these reports? How are these economists funded? We decided to find out: ...

    2. LSE: We'll lose £850 a year

    What is it?
    The Centre for Economic Performance at the London School of Economics is a group of academic researchers.

    What does it say?
    If the UK gets a free trade agreement, it will still take a 1.3% hit to GDP by 2020 - or £850 less for each family. But if the UK doesn't get an agreement, the cost to families could be £1,700 a year. Whatever the trade deal, the CEP is gloomy about the longterm prospects for going it alone. By 2030, in the best case scenario, it predicts we'll be £4,200 poorer, and in the worst that rises to £6,400.

    This article was published by The Daily Mirror on June 6, 2016
    Link to article here

    Related publications
    The complete series of Brexit Papers are available online here

    Related links
    Holger Breinlich webpage
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    John Van Reenen webpage
    Thomas Sampson webpage
    Jonathan Wadsworth webpage
    Labour Markets Programme webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 06/06/2016      [Back to the Top]

    Le Monde

    « Brexit » : la bataille des chiffres au cœur de la campagne

    Leur salaire baisserait de 48 euros par semaine d’ici la même date, renchérit le Trade Union Congress, la principale confédération syndicale. Les prix des transports augmenteraient de 7,5 % et ceux de l’alcool de 7 %, estime la London School of Economics.

    This article appeared in Le Monde on 5 June 2016. Link to article

    Related publications
    See the complete set of CEP Brexit Analysis research papers here

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage
    News Posted: 05/06/2016      [Back to the Top]

    The Ledbury Reporter

    Polish residents who have made Herefordshire home speak out about what Brexit would mean for them

    Recent research by the London School of Economics found that migrants have had no negative effect on UK wages. The research blamed the 2008 recession for lower real salaries rather than a rise in foreign workers, who paid more into UK economy than they took out.

    This article appeared in the Ledbury Reporter on 5 June 2016.Link to article

    Related publications
    ‘Immigration and the UK Labour Market’ Jonathan Wadsworth, CEP Election Analysis No.19, May 2015

    Related links
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    John Van Reenen webpage
    Jonathan Wadsworth webpage
    Labour Markets Programme webpage
    Trade Programme webpage
    Growth Programme webpage

    News Posted: 05/06/2016      [Back to the Top]

    LSE British Politics and Policy blog

    No one would be spared: how the costs of Brexit would be distributed across households

    That leaving the EU would damage the overall economy is now being treated as more of a fact than a speculation. But those for Brexit argue that the rich will be negatively affected while the poor will benefit. This is not the case, write Holger Breinlich, Swati Dhingra, Thomas Sampson and John Van Reenen. Middle and low income households will be negatively affected as well the rich.

    This article was published online by LSE British Politics and Policy blog on June 3, 2016
    Link to article here

    Related publications
    Who Bears the Pain? How the costs of Brexit would be distributed across income groups, Holger Breinlich, Swati Dhingra, Thomas Sampson and John Van Reenen, CEP Brexit Analysis Series Paper No.07, June 2016
    See the complete set of CEP Brexit Analysis Papers here

    Related links
    Holger Breinlich webpage
    Swati Dhingra webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 03/06/2016      [Back to the Top]

    The Economist

    The fatal contradictions in the Remain and Leave camps

    Even aside from the economic consequences of a Leave vote (and read this LSE demolition of the Brexit case), the immediate future for Britain could be very ugly indeed.

    This article was published by The Economist on June 3, 2016
    Link to article here

    Related publications
    Economists for Brexit: A Critique, Thomas Sampson, Swati Dhingra, Gianmarco Ottaviano and John Van Reenen, CEP Brexit Analysis Paper No. 6, May 2016
    The complete series of Brexit Papers are available online here

    Related links
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 03/06/2016      [Back to the Top]

    Wall Street Journal

    This Week's Brexit Briefing

    Here, economists at the Centre for Economic Performance from the same university seek to explain why the economic forecasts of Patrick Minford, one of a minority of economists favoring Brexit, differ from a majority of economists and suggest the U.K. could grow after leaving the EU. In summary, they say that Mr. Minford’s idea to unilaterally reduce import tariffs to zero after leaving the EU would have some economic benefits but nowhere near what Mr. Minford calculates.

    This article appeared in the Wall Street Journal on 3 June 2016. Link to article

    Related publications
    See the complete set of CEP Brexit Analysis research papers here.

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage

    News Posted: 03/06/2016      [Back to the Top]

    LSE Business Review

    The distributional effects of Brexit: who bears the pain?

    Middle and low income households will be poorer because of Brexit - not just the rich, write Holger Breinlich, Swati Dhingra, Thomas Sampson and John Van Reenen.

    This article was published online by the LSE Business Review blog on June 2, 2016
    Link to article here

    Related publications
    Who Bears the Pain? How the costs of Brexit would be distributed across income groups, Holger Breinlich, Swati Dhingra, Thomas Sampson and John Van Reenen, CEP Brexit Analysis Paper No.07, June 2016

    Related links
    Holger Breinlich webpage
    Swati Dhingra webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Growth Programme webpage
    Trade Programme webpage


    News Posted: 02/06/2016      [Back to the Top]

    BBC World Service

    Business Matters

    John Van Reenen interviewed about Brexit

    This programme was broadcast on BBC World Service on 2 June 2016. Link

    Related publications
    See the complete set of CEP Brexit Analysis research papers here

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage

    News Posted: 02/06/2016      [Back to the Top]

    The Guardian

    Predictions of recession if UK leaves EU based on 'bizarre assumptions'

    Economists for Brexit group claims that downturn would be avoided if Britain removed all trade barriers after leaving EU
    Economists campaigning for Britain to leave the European Union have accused the Treasury and international institutions of ''groupthink'' in a report that says growth would be boosted if all trade barriers were removed after a leave vote in this month's referendum. ... Prof Patrick Minford said all the studies showing that leaving the EU would have detrimental consequences for the economy were based on the ''same flawed model'' and the ''same damaging assumptions''. ... ''In recent weeks, there has been a relentless stream of output from modelling groups on the topic of Brexit - all of it negative. This has included long-term and short-term reports from not merely the Treasury but also the Centre for Economic Performance at the LSE, PWC, Oxford Economics, the National Institute for Economic and Social Research, the OECD and the IMF,'' Minford said.

    This article was published by The Guardian on June 2, 2016
    Link to article here

    Related publications
    The complete series of Brexit Papers are available online here

    Related links
    Holger Breinlich webpage
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    John Van Reenen webpage
    Thomas Sampson webpage
    Jonathan Wadsworth webpage
    Labour Markets Programme webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 02/06/2016      [Back to the Top]

    IN Facts

    EU immigrants aren't taking Brits' jobs

    Myth: EU immigrants are taking Brits' jobs
    InFact: Researchers at Oxford, the LSE and NIESR agree; immigration doesn't affect British employment. Meanwhile, Brexit would hit jobs.

    Intuitively, if immigrants are taking jobs from British workers, it would seem odd that we're seeing a record high employment rate of 74.2% at a time when immigration is high. This intuition is borne out by a string of academic studies - from the Centre for Economic Policy[sic] at the London School of Economics, the Institute for the Study of Labour, and the Migration Observatory at the University of Oxford - that show EU migrants aren't putting Brits out of work.
    ...''even in the short term EU migration does not appear to have had a negative impact on the employment outcomes of UK natives''. This view is shared by the Centre for Economic Policy [sic], which concluded that ''we can confidently say that the empirical evidence shows that EU immigration has not had significantly negative effects on average employment, wages, inequality or public services at the local level for the UK-born.''

    This article was published online by IN Facts on June 1, 2016
    Link to article here

    Related publications
    Brexit and the Impact of Immigration on the UK, Swati Dhingra, Gianmarco Ottaviano, John Van Reenen and Jonathan Wadsworth, CEP Brexit Analysis Series Paper No.05, May 2016
    Technical Appendix to 'Brexit and the impact of immigration on the UK'
    See the whole series of CEP Brexit Analysis papers here

    Related links
    Jonathan Wadsworth webpage
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    John Van Reenen webpage
    Labour Markets Programme webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 01/06/2016      [Back to the Top]

    Les Echos (France)

    Incalculable Brexit

    Stop everything! According to the OECD, the forum of economic reflection of developed countries, the United Kingdom would lose 5% of its GDP in the 15 years to come slamming the door of the European Union. Treasury, British, evaluates the fall to 6.2% of GDP, equivalent to 5,500 euros per household. This central forecast is part of a range of 3.8 to 7.8%. But the experts of the Center for Economic Performance, the famous London School of Economics, found it too timid. They believe that the impact of the Brexit could be half higher!

    This article was published by Les Echos (France) on June 1, 2016
    Link to article here

    Related publications
    The UK Treasury analysis of 'The long-term economic impact of EU membership and the alternatives': CEP Commentary, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis Series No.4, April 2016
    The consequences of Brexit for UK trade and living standards, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis Series Paper No.02, March 2016
    See Technical Appendix to CEP Brexit Analysis Series Paper No.2 here
    See the complete set of CEP Brexit Analysis research papers here

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 01/06/2016      [Back to the Top]

    BBC World Service

    Brazil's economy shrinks for fifth consecutive quarter

    Also in the programme, just three weeks from the British referendum on leaving the European Union, we bring together two leading economists, Roger Bootle of Capital Economics, and Professor John Van Reenan from the London School of Economics, to discuss the arguments for and against.

    The interview was broadcast by the BBC World Service on June 1, 2016
    Link to the broadcast here [3 mins in]

    Related links
    John Van Reenen webpage
    Growth Programme webpage
    The complete series of CEP Brexit Papers are available online here


    News Posted: 01/06/2016      [Back to the Top]

    BBC News

    EU Referendum Reality Check: Would Brexit cut wages by £38 per week?

    The claim: Trade union umbrella body the TUC says leaving the EU would cut average earnings by £38 per week by 2030.
    Reality Check verdict: The TUC has taken other bodies' forecasts that leaving the EU would lead to slower growth in the economy and used them to predict lower wages. While the precise figures are highly uncertain, if you believe the forecasts for the economy you can also believe that wages would be lower. TUC general secretary Frances O'Grady says: ''Working people will be £38 a week worse off if we leave''. Where has that figure come from? In its report, the TUC has taken the average of the falls in GDP (that's what you get when you add up the value of everything produced in the economy) for 2030, predicted by the OECD, the Treasury and the Centre for Economic Performance at the London School of Economics, as well as the fall in wages expected by the National Institute for Economic and Social Research (NIESR).

    This article was published online by BBC News Reality Check on June 1, 2016
    Link to article here

    Related reports
    Better off in. Working people and the case from remaining in the UK, TUC Report, June 1, 2016.
    [See Table 5.]

    Related publications
    The complete series of Brexit Papers are available online here

    Related links
    Holger Breinlich webpage
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    John Van Reenen webpage
    Thomas Sampson webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 01/06/2016      [Back to the Top]

    Belfast News Letter

    Brexit campaign falls on poor grasp 'basic facts' says report

    Economics experts have blasted key assumptions underpinning the Brexit campaign's financial arguments in favour of leaving the EU. The report by the London School of Economics and Political Science's Centre for Economic Performance (CEP) has been seized on by the Remain campaign to back their warnings that exiting the EU is too dangerous.

    This article was published online by Belfast News Letter on June 1, 2016
    Read more: ...

    Related publications
    Economists for Brexit: A Critique, Thomas Sampson, Swati Dhingra, Gianmarco Ottaviano and John Van Reenen, CEP Brexit Analysis No.06, May 2016
    The complete series of Brexit Papers are available online here

    Related links
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 01/06/2016      [Back to the Top]

    Belfast News Letter

    Brexit campaign falls on poor grasp 'basic facts' says report

    Economics experts have blasted key assumptions underpinning the Brexit campaign's financial arguments in favour of leaving the EU. The report by the London School of Economics and Political Science's Centre for Economic Performance (CEP) has been seized on by the Remain campaign to back their warnings that exiting the EU is too dangerous.

    This article was published online by Belfast News Letter on June 1, 2016
    Read more: ...

    Related publications
    Economists for Brexit: A Critique, Thomas Sampson, Swati Dhingra, Gianmarco Ottaviano and John Van Reenen, CEP Brexit Analysis No.06, May 2016
    The complete series of Brexit Papers are available online here

    Related links
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 01/06/2016      [Back to the Top]

    Belfast News Letter

    Brexit campaign falls on poor grasp 'basic facts' says report

    Economics experts have blasted key assumptions underpinning the Brexit campaign's financial arguments in favour of leaving the EU. The report by the London School of Economics and Political Science's Centre for Economic Performance (CEP) has been seized on by the Remain campaign to back their warnings that exiting the EU is too dangerous.

    This article was published online by Belfast News Letter on June 1, 2016
    Read more: ...

    Related publications
    Economists for Brexit: A Critique, Thomas Sampson, Swati Dhingra, Gianmarco Ottaviano and John Van Reenen, CEP Brexit Analysis No.06, May 2016
    The complete series of Brexit Papers are available online here

    Related links
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 01/06/2016      [Back to the Top]

    Belfast News Letter

    Brexit campaign falls on poor grasp 'basic facts' says report

    Economics experts have blasted key assumptions underpinning the Brexit campaign's financial arguments in favour of leaving the EU. The report by the London School of Economics and Political Science's Centre for Economic Performance (CEP) has been seized on by the Remain campaign to back their warnings that exiting the EU is too dangerous.

    This article was published online by Belfast News Letter on June 1, 2016
    Read more: ...

    Related publications
    Economists for Brexit: A Critique, Thomas Sampson, Swati Dhingra, Gianmarco Ottaviano and John Van Reenen, CEP Brexit Analysis No.06, May 2016
    The complete series of Brexit Papers are available online here

    Related links
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 01/06/2016      [Back to the Top]

    Bloomberg News

    Some cold, hard facts for Brexiteers: Europe's richest nations have a high concentration of foreigners

    The LSE's Centre for Economic Performance said earlier this month that a reduction in immigration into the U.K. if the country votes for a Brexit wouldn't lead to any improvement in living standards for those born in Britain.

    This article was published by Bloomberg News online on May 31, 2016
    Link to article here

    Associated Article
    May 11, 2016
    Bloomberg News online
    'Post-Brexit Immigration Cut 'Wouldn't Boost Living Standards'
    Read full article here

    Related publications
    Brexit and the Impact of Immigration on the UK, Swati Dhingra, Gianmarco Ottaviano, John Van Reenen and Jonathan Wadsworth, CEP Brexit Analysis Paper No.05, May 2016
    See the complete CEP Brexit Analysis Series here

    Related links
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    John Van Reenen webpage
    Jonathan Wadsworth webpage
    Labour Markets Programme webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 31/05/2016      [Back to the Top]

    Investment Adviser

    Fallout forecasts polarise opinion

    The EU referendum debate has started to focus on the economic fallout of a leave vote for the UK - and also for Europe. Research from the Organisation for Economic Co-operation and Development (OECD) released in April suggests a Brexit vote could see UK GDP growth contract by 3.3 per cent by 2020, and by 2030 the central base-case scenario means a GDP contraction of 5.1 per cent. It adds the economic consequences of a leave vote could also spread beyond the UK, with European GDP growth contracting around 1 per cent by 2020. In a speech presenting the findings, however, Angel Gurria, secretary-general of the OECD, said the estimates - not just from the OECD but also the London School of Economics and HM Treasury - ''are too cautious''.

    This article was published online by the FT Investment Adviser on May 30, 2016
    Link to article here

    Related publications
    The UK Treasury analysis of 'The long-term economic impact of EU membership and the alternatives': CEP Commentary, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis Series Paper No.04, April 2016 See the complete set of CEP Brexit Analysis research papers here

    Related links
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 30/05/2016      [Back to the Top]

    Lancashire Evening Post

    Pro-Brexit claims are rubbished

    ...financial arguments in favour of leaving the EU. The report by the London School of Economics and Political...

    This article was published by the Lancashire Evening Post on May 30, 2016
    (no link available)

    Related publications
    The UK Treasury analysis of 'The long-term economic impact of EU membership and the alternatives': CEP Commentary, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis Series Paper No.04, April 2016 See the complete set of CEP Brexit Analysis research papers here

    Related links
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 30/05/2016      [Back to the Top]

    bdaily.co.uk

    What do UK SME's really think about Brexit?

    What issues have the greatest negative impact on UK businesses?
    Both sides of the debate have argued that there is either too much or very little EU red tape. These confusing arguments haven't helped to clarify the debate. Last month The Treasury cited the LSE Centre for Economic Performance report which stated, ''It is unclear whether there are substantial regulatory benefits from Brexit''. Businesses that took part in the Loc8 Commercial survey however, think red tape is the biggest issue affecting their ability to do business easily with 58%. In addition, the regularity of new EU regulations is the second biggest issue with 35% citing this as a concern, well ahead of immigration, which had a zero score from the businesses that took part in the survey.

    This article was published online by bdaily.co.uk on May 30, 2016
    Link to article here

    Related publications
    The UK Treasury analysis of 'The long-term economic impact of EU membership and the alternatives': CEP Commentary, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis Series, Paper No.04, April 2016
    The complete series of Brexit Papers are available online here

    Related links
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    John Van Reenen webpage
    Thomas Sampson webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 30/05/2016      [Back to the Top]

    lenabellina blog

    That'll do, chimps

    The second programme I heard and was inspired by was this week's Radio 4 'All in the Mind'. The key messages here also chimed with much of my own thinking about the purpose of education, the pressures created by assessment in schools and the need to focus on wellbeing in schools. The programme included a discussion around tests and exams and the mental health of children which involved Lord Layard from The London School of Economics, Dr Berry Billingsley, Associate Professor of Science Education and Reading University and her colleague Tim Williams who is a clinical and educational psychologist. ... Lord Richard Layard who directs the Wellbeing Programme at the London School of Economics then spoke about a project called 'Healthy Mind' which is working with 30 schools around London to try and get data in relation to this issue. Hs opening statement: ''We are trying to help people learn how to live and not just how to pass exams.''

    This article was published online on the lenabellina blog on May 29, 2016
    Link to article here

    Related broadcast
    The full BBC Radio 4 'All in the Mind' Episode can be found here

    Related links
    Richard Layard webpage
    Wellbeing Programme webpage


    News Posted: 29/05/2016      [Back to the Top]

    lenabellina blog

    That'll do, chimps

    The second programme I heard and was inspired by was this week's Radio 4 'All in the Mind'. The key messages here also chimed with much of my own thinking about the purpose of education, the pressures created by assessment in schools and the need to focus on wellbeing in schools. The programme included a discussion around tests and exams and the mental health of children which involved Lord Layard from The London School of Economics, Dr Berry Billingsley, Associate Professor of Science Education and Reading University and her colleague Tim Williams who is a clinical and educational psychologist. ... Lord Richard Layard who directs the Wellbeing Programme at the London School of Economics then spoke about a project called 'Healthy Mind' which is working with 30 schools around London to try and get data in relation to this issue. Hs opening statement: ''We are trying to help people learn how to live and not just how to pass exams.''

    This article was published online on the lenabellina blog on May 29, 2016
    Link to article here

    Related broadcast
    The full BBC Radio 4 'All in the Mind' Episode can be found here

    Related links
    Richard Layard webpage
    Wellbeing Programme webpage


    News Posted: 29/05/2016      [Back to the Top]

    lenabellina blog

    That'll do, chimps

    The second programme I heard and was inspired by was this week's Radio 4 'All in the Mind'. The key messages here also chimed with much of my own thinking about the purpose of education, the pressures created by assessment in schools and the need to focus on wellbeing in schools. The programme included a discussion around tests and exams and the mental health of children which involved Lord Layard from The London School of Economics, Dr Berry Billingsley, Associate Professor of Science Education and Reading University and her colleague Tim Williams who is a clinical and educational psychologist. ... Lord Richard Layard who directs the Wellbeing Programme at the London School of Economics then spoke about a project called 'Healthy Mind' which is working with 30 schools around London to try and get data in relation to this issue. Hs opening statement: ''We are trying to help people learn how to live and not just how to pass exams.''

    This article was published online on the lenabellina blog on May 29, 2016
    Link to article here

    Related broadcast
    The full BBC Radio 4 'All in the Mind' Episode can be found here

    Related links
    Richard Layard webpage
    Wellbeing Programme webpage


    News Posted: 29/05/2016      [Back to the Top]

    lenabellina blog

    That'll do, chimps

    The second programme I heard and was inspired by was this week's Radio 4 'All in the Mind'. The key messages here also chimed with much of my own thinking about the purpose of education, the pressures created by assessment in schools and the need to focus on wellbeing in schools. The programme included a discussion around tests and exams and the mental health of children which involved Lord Layard from The London School of Economics, Dr Berry Billingsley, Associate Professor of Science Education and Reading University and her colleague Tim Williams who is a clinical and educational psychologist. ... Lord Richard Layard who directs the Wellbeing Programme at the London School of Economics then spoke about a project called 'Healthy Mind' which is working with 30 schools around London to try and get data in relation to this issue. Hs opening statement: ''We are trying to help people learn how to live and not just how to pass exams.''

    This article was published online on the lenabellina blog on May 29, 2016
    Link to article here

    Related broadcast
    The full BBC Radio 4 'All in the Mind' Episode can be found here

    Related links
    Richard Layard webpage
    Wellbeing Programme webpage


    News Posted: 29/05/2016      [Back to the Top]

    lenabellina blog

    That'll do, chimps

    The second programme I heard and was inspired by was this week's Radio 4 'All in the Mind'. The key messages here also chimed with much of my own thinking about the purpose of education, the pressures created by assessment in schools and the need to focus on wellbeing in schools. The programme included a discussion around tests and exams and the mental health of children which involved Lord Layard from The London School of Economics, Dr Berry Billingsley, Associate Professor of Science Education and Reading University and her colleague Tim Williams who is a clinical and educational psychologist. ... Lord Richard Layard who directs the Wellbeing Programme at the London School of Economics then spoke about a project called 'Healthy Mind' which is working with 30 schools around London to try and get data in relation to this issue. Hs opening statement: ''We are trying to help people learn how to live and not just how to pass exams.''

    This article was published online on the lenabellina blog on May 29, 2016
    Link to article here

    Related broadcast
    The full BBC Radio 4 'All in the Mind' Episode can be found here

    Related links
    Richard Layard webpage
    Wellbeing Programme webpage


    News Posted: 29/05/2016      [Back to the Top]

    CEP Brexit Analyses

    ‘ECONOMISTS FOR BREXIT': A critique

    The latest in a series of #CEPBrexit reports, published by the Centre for Economic Performance (CEP) at the London School of Economics, explains how the 'Economists for Brexit' fail to grasp basic facts about the nature of regulation, product standards and international trade.

    This article appeared in CEP Brexit Analyses on 27 May 2016. Link to article

    Related publications
    ‘Economists for Brexit: A Critique’ Thomas Sampson, Swati Dhingra, Gianmarco Ottaviano and John Van Reenen, CEP Brexit Analysis No.06, May 2016 The complete series of Brexit Papers are available online here

    Related links
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage

    News Posted: 27/05/2016      [Back to the Top]

    Full Fact

    Stronger In 'facts' leaflet: leaving

    Claim Leaving the EU would cost the average UK household at least £850 a year, and potentially as much as £1,700, according to research released by the London School of Economics.

    Conclusion These figures don’t tell you how much you or your family would lose, but they point in the same direction as most other economic analysis seems to.

    "Leaving the EU would cost the average UK household at least £850 a year, and potentially as much as £1,700, according to research released by the London School of Economics."

    London School of Economics’ Centre for Economic Performance

     


    News Posted: 23/05/2016      [Back to the Top]

    CEPS

    Brexit - A last testament

    There has been an impressive wealth of serious studies on the macroeconomic consequences of secession in the short, medium and long term (UK Treasury, Bank of England, London School of Economics, OECD, IMF), all of which point to significant damage to the UK economy.

    This article appeared on CEPS on 23 May 2016. Link to article

    Related Publications
    See the complete set of CEP Brexit Analysis research papers here.

    Related Links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage

    News Posted: 23/05/2016      [Back to the Top]

    International Business Times

    'Does Britain really want DIY recession?' asks George Osborne one month before EU referendum

    'Does Britain really want DIY recession?' asks George Osborne one month before EU referendum "When this is being backed up by the International Monetary Fund, the OECD, the London School of Economics, eight former US Treasury secretaries, the President of the United States of America, businesses big and small, every one of our allies and trading partners and the Governor of the Bank of England, it isn't a conspiracy but a consensus."

    This article appeared in the International Business Times on 23 May 2016 Link to article

    Related Publications
    See the complete set of CEP Brexit Analysis research papers here

    Related Links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage

    News Posted: 23/05/2016      [Back to the Top]

    City AM

    Sajid Javid: Brexit warnings are ''not a conspiracy'' - it will cost 500,000 UK jobs

    Responding to Hilton’s article, Javid said: “Steve is entitled to his view … the central issue here is that economically, we are far better off being part of this single market … Now you have the Bank of England, the IMF [International Monetary Fund], the OECD [Organisation for Economic Co-operation and Development], the London School of Economics, the OBR [Office for Budget Responsibility], the IFS [Institute for Fiscal Studies], every one of our allies, every one of our trading partners and that is not a conspiracy, that’s a consensus about what would happen if we left the EU.”

    This article appeared in City AM on 23 May 2016. Link to article

    Related Links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage

    News Posted: 23/05/2016      [Back to the Top]

    Daily Mail

    Tories at war: Iain Duncan Smith accuses former Cabinet colleague of being two-faced over the EU as tensions escalate with a month to go before

    Responding to Hilton’s article, Javid said: “Steve is entitled to his view … the central issue here is that economically, we are far better off being part of this single market … Now you have the Bank of England, the IMF [International Monetary Fund], the OECD [Organisation for Economic Co-operation and Development], the London School of Economics, the OBR [Office for Budget Responsibility], the IFS [Institute for Fiscal Studies], every one of our allies, every one of our trading partners and that is not a conspiracy, that’s a consensus about what would happen if we left the EU.”

    This article was published by the Daily Mail on May 23, 2016
    Link to article here

    Related publications
    See the complete set of CEP Brexit Analysis research papers here

    Related Links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage

    News Posted: 23/05/2016      [Back to the Top]

    The Guardian

    Duncan Smith's claim that Sajid Javid backs Brexit 'simply not true'

    Responding to Hilton’s article, Javid said: “Steve is entitled to his view … the central issue here is that economically, we are far better off being part of this single market … Now you have the Bank of England, the IMF [International Monetary Fund], the OECD [Organisation for Economic Co-operation and Development], the London School of Economics, the OBR [Office for Budget Responsibility], the IFS [Institute for Fiscal Studies], every one of our allies, every one of our trading partners and that is not a conspiracy, that’s a consensus about what would happen if we left the EU.”

    This article appeared in the Guardian on 23 May 2016. Link to article

    Related publications
    See the complete set of CEP Brexit Analysis research papers here

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage

    News Posted: 23/05/2016      [Back to the Top]

    BBC News Online

    Brexit forecasts can be wrong, it doesn't mean they are pointless

    Brexit forecasts can be wrong, it doesn't mean they are pointless In that assessment, it finds allies in the IMF, the Bank of England, the London School of Economics and the National Institute of Economic and Social Research.

    This article appeared on BBC News Online on 23 May 2016 Link to article

    Related publications
    See the complete set of CEP Brexit Analysis research papers here

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage

    News Posted: 23/05/2016      [Back to the Top]

    Times of Malta Online

    What's at stake in the UK's EU vote

    The claim, however, that migration is a drain on the welfare state is false. EU migrants for the most part move to Britain to work, and a study by the London School of Economics has shown that they are net contribu¬tors to the economy as a result of the taxes they pay.

    This article appeared in the Times of Malta Online on 23 May 2016. Link to article

    Related publications
    Brexit and the Impact of Immigration on the UK, Swati Dhingra, Gianmarco Ottaviano, John Van Reenen and Jonathan Wadsworth, CEP Brexit Analysis Paper No.05, May 2016
    See the complete CEP Brexit Analysis Series here

    Related links
    Jonathan Wadsworth webpage
    Labour Markets Programme webpage
    News Posted: 23/05/2016      [Back to the Top]

    The Daily Telegraph

    'Turn our backs on the EU and risk losing hundreds of thousands of jobs'

    When this is being backed up by the International Monetary Fund, the OECD, the London School of Economics, eight former US Treasury secretaries, the President of the United States of America, businesses big and small, every one of our allies and trading partners and the Governor of the Bank of England, it isn’t a conspiracy but a consensus.

    This article appeared in the Daily Telegraph on 23 May 2016. Link to article

    Related publications
    See the complete set of CEP Brexit Analysis research papers here.

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage
    News Posted: 23/05/2016      [Back to the Top]

    Daily Mail

    Osborne warns Brexit will force us into 'DIY' recession

    The Chancellor and the PM have also rejected claims they are scaremongering [about Brexit]. They wrote in the Daily Telegraph: ‘When this is being backed up by the International Monetary Fund, the OECD, the London School of Economics…it isn’t a conspiracy but a consensus. We are clear, as is the vast majority of the Conservative Cabinet: this is simply a price that is not worth paying.’

    This article appeared in The Daily Mail on 23 May 2016. Link to article

    Related publications
    See the complete set of CEP Brexit Analysis research papers here.

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage
    News Posted: 23/05/2016      [Back to the Top]

    China Daily

    Brexit would entail huge economic costs for UK

    The London School of Economics' Centre for Economic Performance calculates that the long-term costs to the UK of lower trade with the EU could be as high as 9.5 percent of its GDP, while the fall in foreign investment could cost 3.4 percent of its GDP or more. Those costs alone dwarf the potential gains. The UK's net contribution to the EU budget amounted to only 0.35 percent of its GDP last year, and scrapping EU regulation would bring limited benefits, because the UK's labor and product markets are already among the freest in the world.

    This article appeared in China Daily on 20 May 2016. Link to article

    Related publications
    See the complete set of CEP Brexit Analysis research papers here

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage
    News Posted: 20/05/2016      [Back to the Top]

    The New York Times

    'Brexit,' a Feel-Good Vote That Could Sink Britain's Economy

    ''The pro-Brexit argument that Britain will be free of lots of regulations, that there will be a bonfire of red tape that will cause us to grow rapidly and we'll strike lots of new trade deals as this buccaneering new England - there's just no credible scenario to any of that,'' said John Van Reenen, director of the Center for Economic Performance at the London School of Economics. ''There aren't anything like the game-changing propositions that the pro-Brexit camp is putting forward.''

    This article was published by The New York Times on May 20, 2016
    Link to article here

    Related publications
    See the complete set of CEP Brexit Analysis research papers here

    Related links
    John Van Reenen webpage
    Growth Programme webpage

    News Posted: 20/05/2016      [Back to the Top]

    The Guardian

    Are EU migrants really taking British jobs and pushing down wages?

    The most recent research from the centre for economic performance at the London School of Economics says ''the areas of the UK with large increases in EU immigration did not suffer greater falls in the jobs and pay of UK-born workers. The big falls in wages after 2008 are due to the global financial crisis and a weak economic recovery, not to immigration.'' ... The LSE's Jonathan Wadsworth said: ''The bottom line, which may surprise many people, is that EU immigration has not harmed the pay, jobs or public services enjoyed by Britons. In fact, for the most part it has likely made us better off. So, far from EU immigration being a ''necessary evil'' that we pay to get access to the greater trade and foreign investment generated by the EU single market, immigration is at worse neutral, and at best, another economic benefit.''

    This article was published in The Guardian on May 20, 2016
    Link to article here

    Related publications
    Brexit and the Impact of Immigration on the UK, Swati Dhingra, Gianmarco Ottaviano, John Van Reenen and Jonathan Wadsworth, CEP Brexit Analysis Paper No.05, May 2016
    See the complete CEP Brexit Analysis Series here

    Related links
    Jonathan Wadsworth webpage
    Labour Markets Programme webpage

    News Posted: 20/05/2016      [Back to the Top]

    BBC 6 o'clock News

    BBC 1

    John Van Reenen interviewed about migration figures

    This programme was broadcast on 19 May 2016 (no link available)

    Related publications
    See the complete set of CEP Brexit Analysis research papers here.

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage

    News Posted: 19/05/2016      [Back to the Top]

    LSE British Politics and Policy blog

    What is Brexit-related uncertainty doing to UK growth?

    The UK will soon vote on whether to end its 43-year membership in the European Union. Opinion polls suggest the vote is too close to call, with the ''stay'' and ''leave'' side switching leads on a regular basis, and this uncertainty is reflected in swings in the stock market, explains Nicholas Bloom. Using data from the Economic Policy Uncertainty Index, he explains why the uncertainty could be having a material negative impact on the UK's economic performance.

    This article was published by the LSE British Politics and Policy blog on May 19, 2016
    Link to article here

    Related links
    Nicholas Bloom webpage
    Growth Programme webpage


    News Posted: 19/05/2016      [Back to the Top]

    BBC News

    Number 10 downplays EU migrant figures

    Prof John Van Reenen, director at the Centre for Economic Performance at the London School of Economics, says that while it may be tempting to assume that Europeans are taking jobs that might otherwise go to British workers, the overall picture is far more complex.

    This article was published online by the BBC News on May 19, 2016
    Link to article here

    Related publications
    See the complete CEP Brexit Analysis Series here

    Related links
    John Van Reenen webpage
    Growth Programme webpage


    News Posted: 19/05/2016      [Back to the Top]

    The Financial Times

    Number of EU nationals working in UK reaches record level

    Jane Collins, employment spokesman for the pro-Brexit United Kingdom Independence party, said the 2.1m EU nationals working in Britain were ''a huge boon to multinational companies who can exploit the oversupply of labour to keep their wages low.'' However, John Van Reenen, director of the Centre for Economic Performance at the London School of Economics, rebuffed that argument and said workers would suffer badly in the event of Brexit. ''There is no evidence that EU immigration does much harm to the jobs or pay of British people. By contrast, Brexit will inflict major damage on the real wages of ordinary workers by damaging trade, investment and productivity.''

    This article was published by The Financial Times on May 18, 2016
    Link to article here

    Related publications
    Brexit and the Impact of Immigration on the UK, Swati Dhingra, Gianmarco Ottaviano, John Van Reenen and Jonathan Wadsworth, CEP Brexit Analysis Paper No.05, May 2016
    See the complete CEP Brexit Analysis Series here

    Related links
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    John Van Reenen webpage
    Jonathan Wadsworth webpage
    Labour Markets Programme webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 18/05/2016      [Back to the Top]

    The Financial Times

    Number of EU nationals working in UK reaches record level

    Jane Collins, employment spokesman for the pro-Brexit United Kingdom Independence party, said the 2.1m EU nationals working in Britain were ''a huge boon to multinational companies who can exploit the oversupply of labour to keep their wages low.'' However, John Van Reenen, director of the Centre for Economic Performance at the London School of Economics, rebuffed that argument and said workers would suffer badly in the event of Brexit. ''There is no evidence that EU immigration does much harm to the jobs or pay of British people. By contrast, Brexit will inflict major damage on the real wages of ordinary workers by damaging trade, investment and productivity.''

    This article was published by The Financial Times on May 18, 2016
    Link to article here

    Related publications
    Brexit and the Impact of Immigration on the UK, Swati Dhingra, Gianmarco Ottaviano, John Van Reenen and Jonathan Wadsworth, CEP Brexit Analysis Paper No.05, May 2016
    See the complete CEP Brexit Analysis Series here

    Related links
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    John Van Reenen webpage
    Jonathan Wadsworth webpage
    Labour Markets Programme webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 18/05/2016      [Back to the Top]

    The Financial Times

    Brexit would hit UK growth and impede foreign investment

    However, if there is one thing we as investors don’t like, it is economic uncertainty. As several important bodies have said — the International Monetary Fund, Bank of England, London School of Economics, the Treasury and others — leaving the EU would mean a shock to the UK economy, hurting growth, job creation and foreign investment.

    This article appered in the Financial Times on 18 May 2016. Link to article

    Related publications
    See the complete set of CEP Brexit Analysis research papers here

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage

    News Posted: 18/05/2016      [Back to the Top]

    The Conversation

    Why is the academic consensus on the cost of Brexit being ignored?

    Two issues dominate the EU referendum debate: economics and immigration. When it comes to my field of economics, polling evidence suggests that if people became convinced that they would be worse off by leaving, even if it was by quite modest amounts such as £100 a year, the majority voting to remain would be pretty large. Studies by economists at the highly respected London School of Economics, National Institute of Economic and Social Research, the Organisation for Economic Co-operation and Development and the Treasury all suggest that on average we would be worse off by an amount that is more than ten times that £100 figure.

    This article was published online by The Conversation on May 17, 2016
    Link to article here

    Related publications
    See the complete CEP Brexit Analysis Series here

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Jonathan Wadsworth webpage
    Labour Markets Programme webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 17/05/2016      [Back to the Top]

    The Jordan Times

    The economic consequences of Brexit

    The London School of Economics' Centre for Economic Performance calculates the long-term costs to Britain of lower trade with the EU could be as high as 9.5 per cent of GDP, while the fall in foreign investment could cost 3.4 per cent of GDP or more.

    This article was published online by The Jordan Times on May 17, 2016
    Link to article here

    Related publications
    Life after Brexit: What are the UK's options outside the European Union?, Swati Dhingra and Thomas Sampson, CEP Brexit Analysis No.01, February 2016
    The consequences of Brexit for UK trade and living standards, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis No.02, March 2016.
    Download the accompanying Technical Paper here
    The impact of Brexit on foreign investment in the UK, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis No.03, April 2016
    See the complete CEP Brexit Analysis Series here

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 17/05/2016      [Back to the Top]

    Mail and Guardian (South Africa)

    Governments and business must do more to combat Africa's biggest threat

    Recently Gabriel Zucman, of the London School of Economics, estimated that $7.6-trillion of global cross-border wealth is being held in tax havens. This figure includes only financial assets. If it also accounted for assets such as art, jewellery and property, it could be two or three times that amount.

    This article was published by the Mail and Guardian (South Africa) on May 16, 2016
    Link to article here

    Related publications
    Wealth Inequality in the United States since 1913: Evidence from Capitalized Income Tax Data, Emmanuel Saez, Gabriel Zucman, PEP Paper No.26, August 2015
    Inequality: Are we really 'all in this together'?, Gabriel Zucman, Centre for Economic Performance Election Analysis No.30, April 2015

    Related links
    Gabriel Zucman webpage
    Growth Programme webpage


    News Posted: 16/05/2016      [Back to the Top]

    Herald Scotland

    Chancellor George Osborne warns on Brexit conspiracy theories as Ed Balls and Sir Vince Cable join EU debate

    "They join a line of observers that range from the OECD to the London School of Economics to the eight former US treasury secretaries to the president of the United States of America, to the prime minister of Japan, to the leaders of Australia and New Zealand," said the Chancellor. "Indeed every member of the G20, every one of our major trading partners and every major international financial institution has been unequivocal that leaving the EU would come at an economic cost."

    This article appeared in the Herald Scotland on 16 May 2016. Link to article

    Related publications

    See the complete set of CEP Brexit Analysis research papers here.

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage
    News Posted: 16/05/2016      [Back to the Top]

    Bloomberg

    Leaving the EU's Single Market would be a 'one way ticket to a poorer Britain', warns Chancellor

    With major interventions from both the Bank of England and the International Monetary Fund (IMF) joining a line of observers ranging from the Institute of Fiscal Studies (IFS) to the Organisation for Economic Cooperation and Development (OECD) to the London School of Economics (LSE), to the leaders of every member of the G20, their unequivocal message has been the same: Britain and its people will be poorer if the UK left the EU.

    This article appeared on Bloomberg on 16 May 2016. Link to article

    Related publications
    See the complete set of CEP Brexit Analysis research papers here.

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage
    News Posted: 16/05/2016      [Back to the Top]

    Economia

    The economic consequences of a UK exit from the EU

    The London School of Economics' Centre for Economic Performance calculates that the long-term costs to Britain of lower trade with the EU could be as high as 9.5% of GDP, while the fall in foreign investment could cost 3.4% of GDP or more. Those costs alone dwarf the potential gains from a British exit. The UK's net contribution to the EU budget amounted to only 0.35% of GDP last year, and scrapping EU regulation would bring limited benefits, because the UK's labour and product markets are already among the freest in the world.

    This article was published by Economia on May 16, 2016
    Link to article here

    Related publications
    The consequences of Brexit for UK trade and living standards, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis No.02, March 2016.
    Download the accompanying Technical Paper here
    See the complete CEP Brexit Analysis Series here

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 16/05/2016      [Back to the Top]

    Mainly Macro blog

    Brexit, immigration and £100

    With so many heavyweights, from Barack Obama to Mark Carney, saying that we will be worse off with Brexit, why are the polls still neck and neck? There seem to me two reasonable explanations: that the tabloid media have a strong influence, and that immigration is a big issue among voters. But perhaps the two are connected, for reasons that will become clear. ... For a very good and simple explanation of the facts about recent EU immigration, see this LSE analysis.

    This article was published online in the Mainly Macro blog on May 16, 2016
    Link to article here

    Associated CEP articles
    Immigration from the EU is not a 'necessary evil' and does not drag down wages, Jonathan Wadsworth, Swati Dhingra, Gianmarco Ottaviano and John Van Reenen, LSE BrexitVote blog, May 11, 2016

    Related publications
    Brexit and the Impact of Immigration on the UK, Swati Dhingra, Gianmarco Ottaviano, John Van Reenen and Jonathan Wadsworth, CEP Brexit Analysis Paper No.05, May 2016
    See the complete CEP Brexit Analysis Series here

    Related links
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    John Van Reenen webpage
    Jonathan Wadsworth webpage
    Labour Markets Programme webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 16/05/2016      [Back to the Top]

    Project Syndicate

    The economic consequences of Brexit

    The London School of Economics' Centre for Economic Performance calculates that the long-term costs to Britain of lower trade with the EU could be as high as 9.5% of GDP, while the fall in foreign investment could cost 3.4% of GDP or more. Those costs alone dwarf the potential gains from Brexit. Britain's net contribution to the EU budget amounted to only 0.35% of GDP last year, and scrapping EU regulation would bring limited benefits, because the UK's labor and product markets are already among the freest in the world.

    This article was published online by Project Syndicate on May 16, 2016
    Link to article here

    Related publications
    See the complete set of CEP Brexit Analysis research papers here.

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 16/05/2016      [Back to the Top]

    Wessex FM

    Brexit 'last thing economy needs', warns PM

    ...of England, the Organisation for Economic Co-operation and Development, London School of Economics and Confederation of ...

    This broadcast was made by Wessex FM on May 14, 2016
    (no link available)

    Related publications
    Brexit and the Impact of Immigration on the UK, Jonathan Wadsworth, Swati Dhingra, Gianmarco Ottaviano and John Van Reenen, CEP Brexit Analysis Series No.5, May 2016
    See the complete set of CEP Brexit Analysis research papers here.

    Related links
    Jonathan Wadsworth webpage
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    John Van Reenen webpage
    Labour Markets Programme webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 14/05/2016      [Back to the Top]

    Guardian

    Every household told: sign up now to vote in 'historic' EU poll

    The prime minister, campaigning in his Oxfordshire constituency, said people had 40 days to make up their minds about which side to take in what would be ''the choice of a generation''. Urging people to take on board warnings from the IMF, the OECD, the Bank of England, the London School of Economics and the Treasury about the potential economic damage from Brexit, Cameron said leaving the EU and its single market ''would be a terrible thing for our economy''.

    This article was published online by the Guardian on May 14, 2016
    Link to article here

    Related publications
    See the complete CEP Brexit Analysis Series here

    Related links
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 14/05/2016      [Back to the Top]

    LSE British Politics and Policy blog

    Immigration from the EU is not a 'necessary evil' and does not drag down wages

    A major argument of the Leave campaign is that Brexit would give the UK more control over the flow of EU immigrants, who have supposedly hurt the jobs and pay of British workers. Research by Jonathan Wadsworth, Swati Dhingra, Gianmarco Ottaviano and John Van Reenen shows that far from EU immigration being a 'necessary evi'l of being in the EU Single Market, immigration is at worst neutral and at best, an economic benefit of EU membership.

    This article was published online by the LSE British Politics and Policy blog on May 13, 2016
    Link to article here

    Related publications
    Brexit and the Impact of Immigration on the UK, Jonathan Wadsworth, Swati Dhingra, Gianmarco Ottaviano and John Van Reenen, CEP Brexit Analysis Series Paper No.05, May 2016
    Technical Appendix to 'Brexit and the impact of immigration on the UK'
    See the whole series of CEP Brexit Analysis papers here

    Related links
    Jonathan Wadsworth webpage
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    John Van Reenen webpage
    Labour Markets Programme webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 13/05/2016      [Back to the Top]

    Morning Star

    Brexit does reduce the fiscal deficit

    According to various studies at the Centre for Economic Performance (CEP) of the London School of Economics, Brexit does reduce the fiscal deficit. That would be, according to CEP, the main benefit. The principal cost would be less trade with the European Union. A big uncertainty in these studies is what it means to be outside the EU, since there is no exit agreement. How high would tariffs and other trade barriers be? In a static model, with no changes, for example, in productivity, the CEP analyses predict a cost between 1.3% and 2.6% of GDP.

    Besides trade and fiscal costs, a big factor in the long term is immigration. The UK has historically been a magnet for migrants. The educated ones are attracted by The City; the unskilled ones find jobs at the low end of the services industry. This would remain true, at least in the medium term, inside or outside the EU, but Brexit would presumably reduce entry of EU citizens. European immigrants contribute positively to UK's finances and, perhaps, productivity as well. After immigration and foreign direct investment, and their effect on productivity, are baked in, the cost estimated by CEP rises to 6%-9% of GDP.

    This article was published by the Morning Star on May 13, 2016
    Link to article here

    Related publications
    See the complete CEP Brexit Analysis Series here

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Jonathan Wadsworth webpage
    Labour Markets Programme webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 13/05/2016      [Back to the Top]

    The Independent

    EU immigration has no negative impact on British wages, jobs or public services, research finds

    EU immigration to the UK has not harmed British peoples' access to jobs, public services or incomes, a major study has concluded. The report, by the London School of Economics, has dispelled a number of 'myths' or misconceptions about the impact of immigration on the UK. It has been published as part of a series of research publications to be released between now and the EU referendum on 23 June. ... Report author Jonathan Wadsworth said: ''The bottom line, which may surprise many people, is that EU immigration has not harmed the pay, jobs or public services enjoyed by Britons. EU immigrants pay more in taxes than they use in public services and therefore they help to reduce the budget deficit.''

    This article was published by the Independent on May 12, 2016
    Link to article here

    See also
    May 13, 2016
    Press Reader.com (USA)
    Major new study debunks immigration 'myths'

    Related publications
    Brexit and the Impact of Immigration on the UK, Jonathan Wadsworth, Swati Dhingra, Gianmarco Ottaviano and John Van Reenen, CEP Brexit Analysis Series No.5, May 2016
    See the complete set of CEP Brexit Analysis research papers here.

    Related links
    Jonathan Wadsworth webpage
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    John Van Reenen webpage
    Labour Markets Programme webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 12/05/2016      [Back to the Top]

    In Facts - Why Britain Should Stay in the EU

    Bank of England governor: Brexit could trigger recession

    Brexit uncertainty ''would tend to push up risk premia'', as InFacts has already pointed out. Funding costs for banks could go up, as would borrowing costs for homeowners and consumers. The UK's current account deficit is high, and a weaker outlook for the British economy ''could call into question'' our ability to finance it by attracting savings from abroad, with further consequences for growth. In giving this warning, the Bank of England joins the National Institute for Economic and Social Research, the Treasury, the OECD, the IMF, and the London School of Economics in saying leaving the EU would be bad for the economy.

    This article was published online by In Facts on May 12, 2016
    Link to article here

    Related publications
    See the complete set of CEP Brexit Analysis research papers here.

    Related links
    Jonathan Wadsworth webpage
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Labour Markets Programme webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 12/05/2016      [Back to the Top]

    The Financial Times

    EU migration - the effects on UK jobs and wages

    There is little evidence that more migrants push wages down or unemployment up. Economists from the Centre for Economic Performance at the London School of Economics say that when they look at the areas with the largest increase in EU immigration, these have not seen the sharpest falls in employment or wages since 2008. Jonathan Wadsworth, one of the authors of the CEP report and a former member of the government's Migration Advisory Committee, says: ''There is still no evidence of an overall negative impact of immigration on jobs, or wages.''

    This article was published by The Financial Times on May 12, 2016
    Link to article here

    Related publications
    Brexit and the Impact of Immigration on the UK, Jonathan Wadsworth, Swati Dhingra, Gianmarco Ottaviano and John Van Reenen, CEP Brexit Analysis Series No.5, May 2016
    See the complete set of CEP Brexit Analysis research papers here.

    Related links
    Jonathan Wadsworth webpage
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    John Van Reenen webpage
    Labour Markets Programme webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 12/05/2016      [Back to the Top]

    Adam Smith Institute blog

    Immigration is no reason to leave the EU

    I've become extremely pessimistic about the Leave campaign lately as it has latched on to Faragist arguments about immigration as a major reason to get out of the EU. This is not just naive liberalism - on virtually every count, the critics of EU immigration are wrong.

    A new paper from the LSE's John Van Reenen and others summarises the existing research.

    This article was published by the Adam Smith Institute blog on May 12, 2016
    Link to article here

    Related publications
    Brexit and the Impact of Immigration on the UK, Jonathan Wadsworth, Swati Dhingra, Gianmarco Ottaviano and John Van Reenen, CEP Brexit Analysis Series No.5, May 2016
    See the complete set of CEP Brexit Analysis research papers here.

    Related links
    Jonathan Wadsworth webpage
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    John Van Reenen webpage
    Labour Markets Programme webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 12/05/2016      [Back to the Top]

    The Spectator - 'Coffee House' blog

    EU immigration hasn't hurt jobs or wages. Here's why:

    Article by Jonathan Wadsworth, Swati Dhingra, Gianmarco Ottaviano and John Van Reenen
    This morning's national insurance figures have further stoked the debate about immigration, and the extent to which leaving the EU would make a difference. Many British people are concerned that high levels of immigration have hurt their jobs, wages and quality of life. ... So it does make sense that many people believe this immigration wave has hurt UK workers and think that leaving the EU would make things better. To investigate this we crunched the most recent data and scoured the evidence in our new report. The bottom line is that EU immigration has not significantly harmed the pay, jobs or public services enjoyed by Britons. In fact, for the most part it has made us better off. Far from EU immigration being a 'necessary evil' that we must bear in order to gain access to the greater trade and foreign investment generated by the EU Single Market, immigration is at worst neutral and at best another economic benefit of membership.

    This article was published online by The Spectator 'Coffee House' blog on May 12, 2016
    Link to article here

    Related publications
    Brexit and the Impact of Immigration on the UK, Jonathan Wadsworth, Swati Dhingra, Gianmarco Ottaviano and John Van Reenen, CEP Brexit Analysis Series No.5, May 2016
    See the complete set of CEP Brexit Analysis research papers here.

    Related links
    Jonathan Wadsworth webpage
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    John Van Reenen webpage
    Labour Markets Programme webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 12/05/2016      [Back to the Top]

    LSE Business Review

    Why immigration is no reason to leave the EU

    Article by Jonathan Wadsworth, Swati Dhingra, Gianmarco Ottaviano and John Van Reenen
    Many people believe immigration wave has hurt UK workers and think that leaving the EU would make things better. To investigate this we crunched the most recent data and scoured the evidence in our new report. The bottom line is that EU immigration has not significantly harmed the pay, jobs or public services enjoyed by Britons. In fact, for the most part it has made us better off. Far from EU immigration being a 'necessary evil' that we must bear in order to gain access to the greater trade and foreign investment generated by the EU Single Market, immigration is at worst neutral and at best another economic benefit of membership.

    This article was published online by the LSE Business Review blog on May 11, 2016
    Link to article here

    Related publications
    Brexit and the Impact of Immigration on the UK, Jonathan Wadsworth, Swati Dhingra, Gianmarco Ottaviano and John Van Reenen, CEP Brexit Analysis Series Paper No.05, May 2016
    Technical Appendix to 'Brexit and the impact of immigration on the UK'
    See the whole series of CEP Brexit Analysis papers here

    Related links
    Jonathan Wadsworth webpage
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    John Van Reenen webpage
    Labour Markets Programme webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 11/05/2016      [Back to the Top]

    Harvard Business Review

    Corporate inequality is the defining fact of business today

    Perhaps the most overlooked aspect of economic inequality has been the role that firms play in it.
    It's safe to say that a significant part of the growing gap in how well different firms pay can be attributed to the latter ''talent sorting effect'' - but exactly how much continues to be debated. ... Work by Nicholas Bloom of Stanford finds an even larger role: His analysis suggests that this worker sorting effect can explain the bulk of the increase of inequality in the U.S., with the exception of the rise of the 1%. ...
    Evidence of this trend toward greater corporate inequality has been trickling in for a while now. ... in 2007 Giulia Faggio and John Van Reenen of the London School of Economics and Kjell G. Salvanes of the Norwegian School of Economics and Business Administration reported that the productivity gap between firms had risen in the UK between 1984 and 2001, and that this phenomenon was linked to income inequality. ...
    But there's a pessimistic synthesis between the competition and concentration stories. Perhaps the gap between firms starts out as the inevitable result of competition. Firms concentrate on what they're good at, adopt new technology, and deliver products and services more efficiently. Having reached those heights, they then cement their status through lobbying or M&A. ''Once those firms get there, it may be that they can actually draw up the drawbridge,'' said [John] Van Reenen. Maybe competition creates corporate inequality. But maybe it's lack of competition that preserves it.

    This article was published by the Harvard Business Review on May 11, 2016
    Link to article here

    Related publications
    The Evolution of Inequality in Productivity and Wages: Panel Data Evidence, Giulia Faggio, Kjell G. Salvanes and John Van Reenen, Centre for Economic Performance Discussion Paper No.821, August 2007
    Nicholas Bloom CEP publications can be seen here

    Related links
    Nicholas Bloom webpage
    Giulia Faggio webpage
    John Van Reenen webpage
    Growth Programme webpage


    News Posted: 11/05/2016      [Back to the Top]

    Bloomberg

    Osborne says post-Brexit precautions against instability planned

    In another development, the London School of Economic said a reduction in immigration if the country votes to leave wouldn't lead to any improvement in living standards for those born in Britain. ''Cuts in EU immigration would not offset the big fall in U.K. living standards caused by the reduction in trade and investment that would result from Brexit,'' the school's Centre for Economic Performance said in a report.

    This article was published online by Bloomberg News on May 11, 2016
    Link to article here

    Related publications
    Brexit and the Impact of Immigration on the UK, Jonathan Wadsworth, Swati Dhingra, Gianmarco Ottaviano and John Van Reenen, CEP Brexit Analysis Series No.5, May 2016
    See the complete set of CEP Brexit Analysis research papers here.

    Related links
    Jonathan Wadsworth webpage
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    John Van Reenen webpage
    Labour Markets Programme webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 11/05/2016      [Back to the Top]

    RT.com

    2008 financial crash drove fall in real wages, not wave of EU migration - LSE study

    Contrary to what some believe, inequality, wages and job opportunities for British-born citizens have not been negatively impacted by the recent surge in migrants from the EU, a new study suggests. Published by the London School of Economics' (LSE) Centre for Economic Performance this week, the research forms part of a broader series of papers due for release ahead of Britain's EU referendum on June 23. This latest study found that regions in Britain that have attracted the biggest spike in workers from other European states have not been hit by sharper drops in pay or eroded job opportunities any more than other UK districts.

    This article was published online by RT.com on May 11, 2016
    Link to article here

    Related publications
    Brexit and the Impact of Immigration on the UK, Jonathan Wadsworth, Swati Dhingra, Gianmarco Ottaviano and John Van Reenen, CEP Brexit Analysis Series No.5, May 2016
    See the complete set of CEP Brexit Analysis research papers here.

    Related links
    Jonathan Wadsworth webpage
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    John Van Reenen webpage
    Labour Markets Programme webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 11/05/2016      [Back to the Top]

    LSE BrexitVote blog

    Immigration from the EU is not a 'necessary evil' and does not drag down wages

    Article by Jonathan Wadsworth, Swati Dhingra, Gianmarco Ottaviano and John Van Reenen
    A major argument of the campaign to leave the EU is that Brexit would give the UK more control over the flow of immigrants from across Europe, who have supposedly hurt the jobs and pay of British workers. Research by Jonathan Wadsworth, Swati Dhingra, Gianmarco Ottaviano and John van Reenen shows that far from EU immigration being a 'necessary evil' to gain access to the greater trade and foreign investment that comes from being in the EU Single Market, immigration is at worst neutral and at best, an economic benefit of EU membership.

    This article was published by the LSE BrexitVote blog on May 11, 2016
    Link to article here

    Related publications
    Brexit and the Impact of Immigration on the UK, Jonathan Wadsworth, Swati Dhingra, Gianmarco Ottaviano and John Van Reenen, CEP Brexit Analysis Series No.5, May 2016
    See the complete set of CEP Brexit Analysis research papers here.

    Related links
    Jonathan Wadsworth webpage
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    John Van Reenen webpage
    Labour Markets Programme webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 11/05/2016      [Back to the Top]

    Bloomberg

    Post-Brexit immigration cut 'wouldn't boost living standards'

    A reduction in immigration into the U.K. if the country votes to leave the European Union next month wouldn't lead to any improvement in living standards for those born in Britain, according to research from the London School of Economics.
    ''Cuts in EU immigration would not offset the big fall in U.K. living standards caused by the reduction in trade and investment that would result from Brexit,'' the LSE's Centre for Economic Performance said in a report released Wednesday.

    This article was published online by Bloomberg on May 11, 2016
    Link to article here

    Related publications
    Brexit and the Impact of Immigration on the UK, Jonathan Wadsworth, Swati Dhingra, Gianmarco Ottaviano and John Van Reenen, CEP Brexit Analysis Series No.5, May 2016
    See the complete set of CEP Brexit Analysis research papers here.

    Related links
    Jonathan Wadsworth webpage
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    John Van Reenen webpage
    Labour Markets Programme webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 11/05/2016      [Back to the Top]

    Bloomberg

    Speech: PM speech on the UK's strength and security in the EU: 9 May 2016

    The overwhelming weight of independent opinion - from the International Monetary Fund to the OECD, from the London School of Economics to the Institute for Fiscal Studies - also supports the fact that Britain will suffer an immediate economic shock, and then be permanently poorer for the long-term.

    This article appeared on Bloomberg on 9 May 2016. Link to article

    Related publications
    The BREXIT 2016 Policy Analysis Series from the Centre for Economic Performance can be found here

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Growth Programme webpage
    Trade Programme webpage


    News Posted: 09/05/2016      [Back to the Top]

    LSE Research Impact

    Putting a price on the value of Washington political connections

    Article by Dr Jordi Blanes i Vidal
    LSE research on 'insider' relationships provided concrete evidence for curbing the influence of lobbyists in the US political system.
    The influence of money in politics is widely regarded as one of the most important factors reducing public confidence in the democratic system. The so-called 'Revolving Door' in Washington DC, the movement of US public sector employees into the lobbying sector, is considered one of the most blatant examples of such influence. Despite decades of contention around this issue, until recently there was only anecdotal evidence suggesting how much such political connections might actually be worth.

    This article was published by LSE Research Impact on May 3, 2016
    Link to article here

    Related publications
    The returns to lobbying, Jordi Blanes i Vidal, Mirko Draca and Christian Fons-Rosen. Article in CentrePiece Volume 16, Issue 3, Winter 2012
    In brief: 'Revolving door' lobbyists, Jordi Blanes i Vidal, Mirko Draca and Christian Fons-Rosen. Article in CentrePiece Volume 15, Issue 2, Autumn 2010
    'Revolving Door Lobbyists', Jordi Blanes I Vidal, Mirko Draca and Christian Fons-Rosen, Centre for Economic Performance Discussion Paper No.993, August 2010

    Related links
    Jordi Blanes i Vidal webpage
    Growth Programme webpage


    News Posted: 03/05/2016      [Back to the Top]

    BBC News online

    Reality Check: Would Brexit be good for the UK economy?

    A group of eight well known economists have released a report under the banner of Economists for Brexit, explaining how they think leaving the EU would be good for the UK economy. They predict that, in 2020, the UK economy would grow 3.4% if the UK left the EU, while it would grow only 2.5% if the UK remained. Their conclusions are outside the current economic mainstream on Europe, with most models assuming that free trade, free movement and open economies are automatically a good thing.

    While we have previously warned about the uncertainties involved in economic modelling, that is why it is no surprise organisations such as the IMF, the Organisation for Economic Co-operation and Development (OECD), the Treasury and the Centre for Economic Performance (CEP) have all predicted considerable losses to the economy following a Brexit.

    The analysis from the CEP, an influential group based at the London School of Economics, considered what would happen if the UK unilaterally removed all tariffs. It still predicted a negative effect on the economy from leaving the EU, but said going tariff-free improved the outcome by 0.3 percentage points.

    This article was published by BBC News online on April 28, 2016
    Link to article here

    Related publications
    The impact of Brexit on foreign investment in the UK, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis Paper No.03, April 2016
    The consequences of Brexit for UK trade and living standards, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis Paper No.02, March 2016
    Life after Brexit : What are the UK’s options outside the European Union?, Swati Dhingra and Thomas Sampson, CEP Brexit Analysis Paper No.01, February 2016

    Related links
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 28/04/2016      [Back to the Top]

    BBC News online

    The economy and Brexit - a tangled tale

    Today eight economists have struck out against much mainstream economic thinking and suggested that the UK economy would flourish outside the European Union.

    They are up against formidable opposition - what those who support Britain remaining in the EU call the ''consensus view'' that the UK would be poorer if Brexit were to happen. The group that make this argument includes the Bank of England, the Treasury, the International Monetary Fund, the Institute for Fiscal Studies and the London School of Economics.

    This article was published by BBC News online on April 28, 2016
    Link to article here

    Related publications
    The impact of Brexit on foreign investment in the UK, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis Paper No.03, April 2016
    The consequences of Brexit for UK trade and living standards, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis Paper No.02, March 2016
    Life after Brexit : What are the UK’s options outside the European Union?, Swati Dhingra and Thomas Sampson, CEP Brexit Analysis Paper No.01, February 2016

    Related links
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 28/04/2016      [Back to the Top]

    InFacts.org

    Why Britain should stay in the EU: Brexit economists' barrage of blather

    The Brexiteers' economic case has taken a real kicking in the last few weeks. The International Monetary Fund, the Treasury, the OECD, the London School of Economics and President Barack Obama have all put the boot in.

    This article was published online by InFacts.org on April 28, 2016
    Link to article here

    Related publications
    'The consequences of Brexit for UK trade and living standards', Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Series No.02, March 2016

    Related links
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 28/04/2016      [Back to the Top]

    InFacts.org

    Why Britain should stay in the EU: Brexit economists' barrage of blather

    The Brexiteers' economic case has taken a real kicking in the last few weeks. The International Monetary Fund, the Treasury, the OECD, the London School of Economics and President Barack Obama have all put the boot in.

    This article was published online by InFacts.org on April 28, 2016
    Link to article here

    Related publications
    'The consequences of Brexit for UK trade and living standards', Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Series No.02, March 2016

    Related links
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 28/04/2016      [Back to the Top]

    Daily Telegraph

    Cost of Brexit: Migration to fall by 84,000 a year, but will cost UK taxpayer up to £5000 - EU referendum latest

    The Organisation for Economic Co-Operation and Development (OECD) said that the impact of a Brexit would leave households £2,200 worse off than if Britain voted to stay in the EU. It claimed that a vote to leave the EU would be like imposing a tax on Britain's national income and become a "persistent and rising cost" on the economy.

    This article appeared in the Daily Telegraph on 27 April 2016. Link to article

    CEP Event details
    CEP Public Lecture on April 27, 2016: 'To Brexit or not to Brexit: a taxing question' given by Angel Gurria, Secretary-General of the Organisation for Economic Co-operation and Development (OECD). Moderator: Dr Thomas Sampson; Chair: Professor Lord Stern.
    Download the speech here

    Related publications
    The BREXIT 2016 Policy Analysis Series from the Centre for Economic Performance can be found here

    Related links
    Thomas Sampson webpage
    Growth Programme webpage
    Trade Programme webpage


    News Posted: 27/04/2016      [Back to the Top]

    The World Weekly

    OECD unveils damning Brexit verdict

    The UK will pay a heavy price if it votes to leave the EU on June 23, the OECD, an economic forum of mainly rich countries, said on Wednesday. ''Our conclusion is unequivocal. The UK is much stronger as a part of Europe, and Europe is much stronger with the UK as a driving force,'' Secretary General Angel Gurria said at the London School of Economics, where he presented his organisation's assessment of the consequences of Brexit.

    The report is marginally more optimistic about the long-term economic impact of Brexit than the UK's finance ministry and the LSE's Centre for Economic Performance. It is slightly more pessimistic than papers by Oxford Economics, a consultancy, and Open Europe, a think-tank.

    This article was published online by The World Weekly on April 27, 2016
    Link to article here

    CEP Event details
    CEP Public Lecture on April 27, 2016: 'To Brexit or not to Brexit: a taxing question' given by Angel Gurria, Secretary-General of the Organisation for Economic Co-operation and Development (OECD). Moderator: Dr Thomas Sampson; Chair: Professor Lord Stern.
    Download the speech here

    Related publications
    The BREXIT 2016 Policy Analysis Series from the Centre for Economic Performance can be found here

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Growth Programme webpage
    Trade Programme webpage


    News Posted: 27/04/2016      [Back to the Top]

    The Washington Post

    Leaving the European Union could cost every British family a month's pay, new report says

    Less than two months before Britain's historic vote over whether to remain in the European Union, voters remain deeply divided over the decision. But among economists, there is little question that a so-called Brexit would be costly. The latest analysis was released Wednesday morning by the influential Organization for Economic Cooperation and Development. It estimated the United Kingdom's economy would be 3 percent smaller in 2020 if Britain leaves the E.U., damaging consumer confidence, discouraging business investment and unleashing a new era of uncertainty in the financial center of Europe. The OECD's estimates echo recent analysis by the U.K. Treasury and the London School of Economics on the cost of Brexit. Even the think tank Open Europe, which has been more skeptical of the benefits of the E.U., has forecast a 2.2 percent hit to the U.K. economy by 2030 in its worst-case scenario.

    This article was published by The Washington Post on April 27, 2016
    Link to article here

    CEP Event details
    CEP Public Lecture on April 27, 2016: 'To Brexit or not to Brexit: a taxing question' given by Angel Gurria, Secretary-General of the Organisation for Economic Co-operation and Development (OECD). Moderator: Dr Thomas Sampson; Chair: Professor Lord Stern.
    Download the speech here

    Related publications
    The BREXIT 2016 Policy Analysis Series from the Centre for Economic Performance can be found here

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Growth Programme webpage
    Trade Programme webpage


    News Posted: 27/04/2016      [Back to the Top]

    The New York Times

    OECD's Gurria-No Economic Upside for UK from Brexit

    The head of the Organisation for Economic Co-operation and Development said on Wednesday that he saw no potential benefits for the British economy if voters decide to leave the European Union at a referendum in June. Angel Gurria said a new OECD report showed a hit to British economic growth under all scenarios if the country left the EU compared with a decision to stay in the bloc. ''The best outcome is still worse than remaining and the worst outcomes are very bad indeed,'' he said in a speech at the London School of Economics as the OECD published its report on the impact of a so-called Brexit.

    This article was published online by The New York Times on April 27, 2016
    Link to article here

    CEP Event details
    CEP Public Lecture on April 27, 2016: 'To Brexit or not to Brexit: a taxing question' given by Angel Gurria, Secretary-General of the Organisation for Economic Co-operation and Development (OECD). Moderator: Dr Thomas Sampson; Chair: Professor Lord Stern.
    Download the speech here

    Related publications
    The BREXIT 2016 Policy Analysis Series from the Centre for Economic Performance can be found here

    Related links
    Thomas Sampson webpage
    Growth Programme webpage
    Trade Programme webpage


    News Posted: 27/04/2016      [Back to the Top]

    The Guardian

    Brexit would cost UK households £2,200 by 2020, says OECD

    Thinktank predicts leaving EU would lead to damaging trade barriers and immigration slowdown, with limited economic benefits
    Angel Gurria, secretary-general of the Organisation for Economic Cooperation and Development, said future generations would pay the price of Brexit as he launched a report showing that departure would impose a ''persistent and rising shock'' on the economy. ''The UK is much stronger as a part of Europe, and Europe is much stronger with the UK as a driving force'', Gurria said in a speech at the London School of Economics. ''There is no upside for the UK in Brexit. Only costs that can be avoided and advantages to be seized by remaining in Europe. No one should have to pay the Brexit tax.''

    This article was published by the Guardian on April 27, 2016
    Link to article here

    CEP Event details
    CEP Public Lecture on April 27, 2016: 'To Brexit or not to Brexit: a taxing question' given by Angel Gurria, Secretary-General of the Organisation for Economic Co-operation and Development (OECD). Moderator: Dr Thomas Sampson; Chair: Professor Lord Stern.
    Download the speech here

    Related publications
    The BREXIT 2016 Policy Analysis Series from the Centre for Economic Performance can be found here

    Related links
    Thomas Sampson webpage
    Growth Programme webpage
    Trade Programme webpage


    News Posted: 27/04/2016      [Back to the Top]

    The Financial Times

    Brexit sparks outbreak of agreement among economists

    There is a long-running joke that if you laid all the world's economists end to end they would never reach a conclusion. But the debate over whether the UK should leave the EU is generating more consensus in the dismal science than almost any other recent issue.

    Economists believe it would probably hurt Britain's economy. They differ on their modelling techniques and their estimates of the extent of the cost to UK households, but those are small differences relative to the normal level of disagreement in the profession.

    The OECD's central assessment is that Brexit would cause immediate damage to confidence and longer-term structural harm because of the benefits Britain derives from trade with the EU, foreign direct investment, managerial competence and access to skilled workers. Its central estimate is that gross domestic product would be 5 per cent lower than if Britain remained in the EU, with a range of a 2.7 to a 7.5 per cent hit to GDP. All of these are significant. These figures put the organisation very close to the Treasury's estimate of a 6.2 per cent GDP reduction. They are higher than the forecasts from the CBI business lobby, and Oxford Economics and lower than the London School of Economics estimate of up to 9.5 per cent.

    This article was published by The Financial Times on April 27, 2016
    Link to article here

    Related publications
    The BREXIT 2016 Policy Analysis Series from the Centre for Economic Performance can be found here

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Growth Programme webpage
    Trade Programme webpage


    News Posted: 27/04/2016      [Back to the Top]

    The Daily Mail

    Teaching children to read using phonics has 'significant benefits' in helping those from disadvantaged backgrounds or who have English as a second language

    An assessment of more than 270,000 children by LSE's Centre for Economic Performance (CEP) discovered that those who were learning phonetically had developed far better by age seven than those using traditional methods.

    This article was published online by The Daily Mail on April 25, 2016
    Link to article here

    Related publications
    '"Teaching to Teach" Literacy', Stephen Machin, Sandra McNally and Martina Viarengo, Centre for Economic Performance Discussion Paper No.1425, April 2016

    Related links
    Stephen Machin webpage
    Sandra McNally webpage
    Education and Skills Programme webpage


    News Posted: 25/04/2016      [Back to the Top]

    The Daily Mail

    Teaching children to read using phonics has 'significant benefits' in helping those from disadvantaged backgrounds or who have English as a second language

    An assessment of more than 270,000 children by LSE's Centre for Economic Performance (CEP) discovered that those who were learning phonetically had developed far better by age seven than those using traditional methods.

    This article was published online by The Daily Mail on April 25, 2016
    Link to article here

    Related publications
    '"Teaching to Teach" Literacy', Stephen Machin, Sandra McNally and Martina Viarengo, Centre for Economic Performance Discussion Paper No.1425, April 2016

    Related links
    Stephen Machin webpage
    Sandra McNally webpage
    Education and Skills Programme webpage


    News Posted: 25/04/2016      [Back to the Top]

    The Yorkshire Post

    Obama's arrival in UK brings a boost for the Remain campaign

    US PRESIDENT Barack Obama is expected to give a major boost to the Remain campaign tomorrow by backing David Cameron's call for Britain to stay in the European Union.
    Earlier this week the Treasury published analysis suggesting Britain's departure from the European Union would cost households on average £4,300 a year. ... The Treasury forecast suggests Britain's GDP would be cut by 6.2 per cent but economists at the LSEs Centre for Economic Performance put the figure at between 6.3 and 9.5 per cent. Swati Dhingra, from the LSE, said: "The Treasury Report looks at the realistic options the UK will face after Brexit - and the cost of each. It takes a conservative approach to the potential costs."

    This article was published online by The Yorkshire Post on April 21, 2016
    Link to article here

    Related publications
    The BREXIT 2016 Policy Analysis Series from the Centre for Economic Performance can be found here

    Related links
    Swati Dhingra webpage
    Trade Programme webpage


    News Posted: 21/04/2016      [Back to the Top]

    The Timies

    In or out of the EU, we need to find ways to boost productivity

    Britain's postwar record on productivity can be split into two periods: pre and post Margaret Thatcher. Prior to Thatcher, output per hour in Britain was growing more slowly than France, Germany and the US, according to John Van Reenen, of the Centre for Economic Performance, and Tim Besley, of the London School of Economics. After Thatcher, UK productivity outpaced the others. There is no question that Thatcher opened up the UK, but she also presided over the rise of North Sea oil and ushered in big banking, both of which distorted the picture. North Sea production began in earnest in the late 1970s. The 1979 oil shock then drove prices through the roof. As a result, measured productivity of the sector, in terms of economic output per hour, was enormous. In 2008, according to the OBR, the North Sea was still 12 times more productive than the whole UK economy.

    This article was published in The Times on April 20, 2016
    Link to article here

    Related publications
    Investing for Prosperity: Skills, Infrastructure and Innovation. Report of the LSE Growth Commission, Philippe Aghion, Tim Besley, John Browne, Francesco Caselli, Richard Lambert, Rachel Lomax, Chris Pissarides, Nick Stern and John Van Reenen, January 2013

    Related links
    John Van Reenen webpage
    Growth Programme webpage
    LSE Growth Commission Research Programme webpage


    News Posted: 20/04/2016      [Back to the Top]

    The Edge Market

    Brexit job risk threatens more than just bankers

    A report from the London School of Economics on April 15 estimated that foreign investment in the UK could fall 22% over the next decade. It is of course feasible that business and investment will later return to Britain.

    This article was published online by the Edge Markets on April 19, 2016
    Link to article here

    Related Links
    The impact of Brexit on foreign investment in the UK, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis Paper No.03, April 2016
    The consequences of Brexit for UK trade and living standards, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis Paper No.02, March 2016
    Life after Brexit: What are the UK's options outside the European Union?, Swati Dhingra and Thomas Sampson, CEP Brexit Analysis No.01, February 2016

    Related links
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    John Van Reenen webpage
    Thomas Sampson webpage
    Trade Programme webpage
    Growth Programme webpage

    News Posted: 19/04/2016      [Back to the Top]

    The Gazette (Blackpool)

    Politically correct by Ken Cridland

    The Panama Papers have helped expose just how big the problems of offshore tax havens are. Professor Gabriel Zucman, from the London School of Economics, had already estimated the amount of offshore money by measuring discrepancies between global financial assets and liabilities. He came up with about seven trillion dollars. That treasure trove is about eight per cent of all global wealth.

    This article was published online by the Blackpool Gazette on April 19, 2016
    Link to article here

    Related publications
    Wealth Inequality in the United States since 1913: Evidence from Capitalized Income Tax Data, Emmanuel Saez, Gabriel Zucman, PEP Paper No.26, August 2015
    Inequality: Are we really 'all in this together'?, Gabriel Zucman, Centre for Economic Performance Election Analysis No.30, April 2015

    Related links
    Gabriel Zucman webpage
    Growth Programme webpage


    News Posted: 19/04/2016      [Back to the Top]

    Straits Times (Singapore)

    The numbers show Britain should stay in the EU

    A very awkward fact for the Brexit campaign is that in the last quarter of 2015, Britain's current-account deficit hit a record 7 per cent of GDP. That needs to be financed. But the risk of Brexit is already acting like a flashing red light to foreign investors. According to the Centre for Economic Performance at the London School of Economics, leaving the EU could reduce foreign direct investment in the UK by 22 per cent and real income by 3.4 per cent.

    This article was published online by the Straits Times (Singapore) on April 19, 2016
    Link to article here

    Related publications
    The Impact of Brexit on Foreign Investment in the UK, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis No.3, April 2016
    See the complete set of CEP Brexit Analysis research papers here.

    Related links
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 19/04/2016      [Back to the Top]

    CAPX

    The Brexit fantasy would lead to a messy divorce

    You can quibble with the numbers. You always can. But the impact of leaving the European Union is clear: it would make Britain poorer.
    You don't need to take the Treasury's word for it. (And no, they didn't support joining the euro, so Vote Leave can't tar them with that brush.) It's the conclusion of study after study, by highly respected independent economists such as those at the London School of Economics' Centre for Economic Performance, as well as by expert international organisations, notably the International Monetary Fund (IMF) and the Organisation for Economic Co-operation and Development (OECD).

    This article was published online by CAPX on April 19, 2016
    Link to article here

    Related publications
    'The consequences of Brexit for UK trade and living standards', Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Series No.02, March 2016

    Related links
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 19/04/2016      [Back to the Top]

    Financial Times

    Free Lunch: Sizing up Little England

    This is well illustrated by the excellent Brexit study from the LSE’s Centre for Economic Performance, which we reported last month.

    This article appeared in the Financial Times on 18 April 2016. Link to article

    Related publications
    The impact of Brexit on foreign investment in the UK, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis No.03, April 2016
    Life after Brexit : What are the UK's options outside the European Union?, Swati Dhingra and Thomas Sampson, CEP Brexit Analysis No.02, February 2016
    The consequences of Brexit for UK trade and living standards, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis No.01, March 2016

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Growth Programme webpage
    Trade Programme webpage


    News Posted: 19/04/2016      [Back to the Top]

    BBC World Service

    World Business Review

    John Van Reenen interviewed about Brexit.

    This programme was broadcast on 19 April 2016. Link

    Related publications
    The impact of Brexit on foreign investment in the UK, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis No.03, April 2016
    Life after Brexit : What are the UK's options outside the European Union?, Swati Dhingra and Thomas Sampson, CEP Brexit Analysis No.02, February 2016
    The consequences of Brexit for UK trade and living standards, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis No.01, March 2016

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Growth Programme webpage
    Trade Programme webpage


    News Posted: 19/04/2016      [Back to the Top]

    The Telegraph

    EU Facts: George Osborne's 'Brexit costs you £4,300' dossier decoded

    How does the Treasury estimate for “losses” compare with other economists’?

    Many independent economists have suggests some reduction in GDP growth from Brexit, and a few have suggested possible gains. The Treasury’s predicted “loss” of 6.2 per cent is much higher than most of those studies. 

    The Centre for Economic Performance at the London School of Economics, whose work is cited by the Treasury, put the figure between 1.3 and 2.6 per cent.   Oxford Economics, a consultancy whose work the Treasury used, says 3.9 per cent, and suggested at least one of the figures the Treasury used to reach its conclusion was unusually high.


    News Posted: 18/04/2016      [Back to the Top]

    BBC 1 News

    News at 6pm and News at 10pm

    John Van Reenen interviewed about Brexit.

    The interview was broadcast by BBC 1 News at 6pm and again at 10pm on April 18, 2016
    (no link available)

    Related publications
    See the complete set of CEP Brexit Analysis research papers here.

    Related links
    John Van Reenen webpage
    Growth Programme webpage


    News Posted: 18/04/2016      [Back to the Top]

    The Telegraph

    Economists blast 'one-sided' Treasury warning on Brexit

    John Van Reenen, director of the Centre for Economic Performance at the London School of Economics, defended the Treasury analysis as a ''serious piece of work'', which was in line with other independent studies. ''The Treasury has taken quite a conservative estimate of the impact,'' he said.

    This article was published by The Telegraph on April 18, 2016
    Link to article here

    Related publications
    The UK Treasury analysis of 'The long-term economic impact of EU membership and the alternatives': CEP Commentary, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis Series, Paper No.04, April 2016
    The complete series of Brexit Papers are available online here

    Related links
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    John Van Reenen webpage
    Thomas Sampson webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 18/04/2016      [Back to the Top]

    The Irish Times

    Treasury report says Brexit would cost British families £4,300 a year

    Leaving the EU would cause Britain's economy to shrink and tax receipts to plummet, and cost the average household thousands of pounds a year, an official analysis from the UK treasury has warned.
    The treasury assessment is broadly in line with independent analyses from the London School of Economics, Oxford Economics and others.

    This article was published by The Irish Times on April 18, 2016
    Link to article here

    Related publications
    The impact of Brexit on foreign investment in the UK, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis No.3, April 2016
    The UK Treasury analysis of 'The long-term economic impact of EU membership and the alternatives': CEP Commentary, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis No.4, April 2016
    See the complete set of CEP Brexit Analysis research papers here.

    Related links
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 18/04/2016      [Back to the Top]

    The New York Times

    Factbox: How did Osborne calculate his 'Brexit hit' for households?

    British finance minister George Osborne said on Monday that a vote to leave the European Union could cost each household 4,300 pounds ($6,100) a year by the early 2030s.

    Following is a look at how he reached this conclusion:
    Few studies have looked at the long-term impact on productivity caused by a loss of trade. One, by the London School of Economics, suggested that if Britain reached a trade deal with the EU similar to Norway's, GDP would be 6.3 percent to 9.5 percent lower after 10 years, twice the hit assumed by the finance ministry.

    This article was published online by The New York Times on April 18, 2016
    Link to article here

    Related publications
    The BREXIT 2016 Policy Analysis Series from the Centre for Economic Performance can be found here

    Related links
    John Van Reenen webpage
    Growth Programme webpage
    Trade Programme webpage


    News Posted: 18/04/2016      [Back to the Top]

    The Economist

    A Treasury analysis suggests the costs of Brexit would be high

    THERE is much dispute in the Brexit debate over the economic effects of leaving the EU. Even Brexiteers accept that there would be some short-term costs from uncertainty, but they claim that in the long run Britain could still be better off. Most objective economic studies disagree, finding that there would be long-term costs as well. On April 18th the Treasury weighed in with a 200-page analysis. Its conclusion is that they will be high: the central estimate touted by George Osborne, the chancellor, is that GDP may be 6.2% lower than it would otherwise have been by 2030, an annual cost that he reckons works out at some £4,300 ($6,000) per household. ... The Treasury's numbers are bigger than those in some other recent studies, but that is mainly because they include the dynamic effects on productivity. A similar dynamic study by researchers at the Centre for Economic Performance, London School of Economics (LSE), came up with even bigger losses. To the disgust of Brexiteers, the Treasury agrees with the Bank of England that the benefits of EU membership considerably outweigh the costs. And it dismisses the possibility of a boost from less regulation in a post-Brexit world by pointing out that Britain is relatively lightly regulated already.

    This article was published by The Economist on April 18, 2016
    Link to article here

    Related publications
    The impact of Brexit on foreign investment in the UK, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis No.03, April 2016
    Life after Brexit : What are the UK's options outside the European Union?, Swati Dhingra and Thomas Sampson, CEP Brexit Analysis No.02, February 2016
    The consequences of Brexit for UK trade and living standards, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis No.01, March 2016

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Growth Programme webpage
    Trade Programme webpage


    News Posted: 18/04/2016      [Back to the Top]

    The Independent

    My research proves that Brexit would cut foreign investment in the UK – and that really does matter, article by John Van Reenen

    Foreign investors love Britain, but Brexit would kill the vibe. According to new research colleagues and I have conducted at the Centre for Economic Performance, leaving the European Union could lead to a fall in inward foreign direct investment into the UK of close to a quarter. This would damage productivity and could lower people’s real incomes by more than 3 per cent.

    This article apperaed in the Independent on 18 April 2016. Link to article

    Related publications
    The impact of Brexit on foreign investment in the UK, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis No.03, April 2016
    Life after Brexit : What are the UK's options outside the European Union?, Swati Dhingra and Thomas Sampson, CEP Brexit Analysis No.02, February 2016
    The consequences of Brexit for UK trade and living standards, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis No.01, March 2016

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Growth Programme webpage
    Trade Programme webpage


    News Posted: 18/04/2016      [Back to the Top]

    The Telegraph

    EU referendum: George Osborne says tax hike needed to cover £36bn Brexit black hole

    And secondly, actually the precise costs are difficult to estimate. But if you look at the range of things that have come out of places like the London School of Economics this is broadly in that range, perhaps a little bit above the average, but it’s not out of line with what many independent forecasters are suggesting.

    This article appeared in The Telegraph on 18 April 2016. Link to article

    Related publications
    The impact of Brexit on foreign investment in the UK, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis No.03, April 2016
    Life after Brexit : What are the UK's options outside the European Union?, Swati Dhingra and Thomas Sampson, CEP Brexit Analysis No.02, February 2016
    The consequences of Brexit for UK trade and living standards, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis No.01, March 2016

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Growth Programme webpage
    Trade Programme webpage


    News Posted: 18/04/2016      [Back to the Top]

    HM Government

    HM Treasury analysis: the long-term economic impact of EU membership and the alternatives

    The Treasury's 200-page Brexit analysis was published on April 17, 2016. The analysis referred to the Centre for Economic Performance's Brexit Analysis Series.
      A recent study by the London School of Economics (LSE) Centre for Economic Performance (CEP) finds that, controlling for many other factors, FDI to the UK would be about 22% lower following the UK leaving the EU.
      The LSE's Centre for Economic Performance has noted: ''It is unclear whether there are substantial regulatory benefits from Brexit. The UK already has one of the OECD's least regulated product and labour markets. 'Big ticket' savings are supposedly from abolition of the Renewable Energy Strategy and the Working Time Directive (WTD)145 - both of which receive considerable domestic political support in the UK''.
      Given the weight of the evidence, including the recent study by the LSE's Centre for Economic Performance (CEP), a modelling assumption for an effect on non-EU FDI flows has been made to ensure the impact on total FDI inflows into the UK is captured as a result of leaving the EU in all the alternatives. In terms of the modelling, the analysis has made an assumption that the impact of EU membership on non-EU FDI flows is the same as for EU FDI flows.
      Recent empirical evidence from the LSE's Centre for Economic Performance (CEP) (2016) also finds that EU membership has a significant impact on both EU and non-EU FDI flows.

    Link to the Treasury Report here

    Related publications
    The impact of Brexit on foreign investment in the UK, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis No.03, April 2016
    Life after Brexit : What are the UK's options outside the European Union?, Swati Dhingra and Thomas Sampson, CEP Brexit Analysis No.02, February 2016
    The consequences of Brexit for UK trade and living standards, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis No.01, March 2016

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Growth Programme webpage
    Trade Programme webpage


    News Posted: 18/04/2016      [Back to the Top]

    Public Finance

    The price of Brexit for individuals

    Article by John Van Reenen
    Many people are considering the personal financial impact of EU membership, and LSE academics have crunched the vital numbers
    By referendum day on 23 June, all voters will have to weigh up whether to leave the European Union. One factor that matters is the economic impact - whether people are likely to be richer or poorer after a Brexit. An obvious benefit of Brexit is that the UK will not have to send so much money to Brussels. The net amount of this is around 0.31% of our national income. An equally obvious cost of Brexit is that there will be less trade between the UK and EU if the UK leaves than if it stays.

    This article was published by Public Finance on April 18, 2016
    Link to article here

    Related publications
    The impact of Brexit on foreign investment in the UK, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis No.03, April 2016
    Life after Brexit : What are the UK's options outside the European Union?, Swati Dhingra and Thomas Sampson, CEP Brexit Analysis No.02, February 2016
    The consequences of Brexit for UK trade and living standards, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis No.01, March 2016

    Related links
    John Van Reenen webpage
    Growth Programme webpage


    News Posted: 18/04/2016      [Back to the Top]

    BBC News Online

    Reality Check: Would Brexit cost your family £4,300?

    If what you care about is economic modelling, then this is a perfectly respectable piece of modelling, following broadly similar methodology to the one from the Centre for Economic Performance, although headlining the figure taking into account dynamic effects rather than static ones (dynamic models include changes that happen over time such as trade increasing competition or efficiency).

    This article appeared in BBC News Online on 18 April 2016. Link to article

    Related Links
    The impact of Brexit on foreign investment in the UK Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen April 2016
    The consequences of Brexit for UK trade and living standards Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen March 2016
    Life after Brexit: What are the UK's options outside the European Union? Swati Dhingra and Thomas Sampson, CEP Brexit Analysis No.01, February 2016

    Related links
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    John Van Reenen webpage
    Thomas Sampson webpage
    Trade Programme webpage
    Growth Programme webpage
    News Posted: 18/04/2016      [Back to the Top]

    Bloomberg

    World's Biggest Miner Says Brexit Would Harm China View of U.K.

    Foreign direct investment in Britain could decline by 22 percent if voters choose to leave the EU, reducing incomes by about 3.4 percent, according to research for the London School of Economics Centre for Economic Performance published on Friday.

    This article appeared on Bloomberg on 17 April 2016. Link to article

    Related publications
    The impact of Brexit on foreign investment in the UK, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis No.03, April 2016
    Life after Brexit : What are the UK's options outside the European Union?, Swati Dhingra and Thomas Sampson, CEP Brexit Analysis No.02, February 2016
    The consequences of Brexit for UK trade and living standards, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis No.01, March 2016

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Growth Programme webpage
    Trade Programme webpage


    News Posted: 17/04/2016      [Back to the Top]

    The Financial Times

    UK Economy: Nuts and bolts of Treasury's view of Brexit

    The Treasury will publish details of its long-term economic assessment of EU membership on Britain's economy and prosperity on Monday, but the approach the Treasury has taken is clear from a George Osborne article in the Times. ... The Treasury's work is similar to the dynamic model of the Centre for Economic Performance at the London School of Economics, the most complete academic analysis of Brexit to date.

    This article was published by The Financial Times on April 17, 2016
    Link to article here

    Related publications
    The impact of Brexit on foreign investment in the UK, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis No.03, April 2016
    Life after Brexit : What are the UK's options outside the European Union?, Swati Dhingra and Thomas Sampson, CEP Brexit Analysis No.02, February 2016
    The consequences of Brexit for UK trade and living standards, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis No.01, March 2016

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Growth Programme webpage
    Trade Programme webpage


    News Posted: 17/04/2016      [Back to the Top]

    The Conversation

    How Brexit would reduce foreign investment in the UK - and why that matters

    Article by John Van Reenen
    Foreign investors love Britain, but Brexit would kill the vibe. According to new research colleagues and I have conducted at the Centre for Economic Performance, leaving the European Union could lead to a fall in inward foreign direct investment into the UK of close to a quarter. This would damage productivity and could lower people's real incomes by more than 3%. Case studies of cars and financial services - two UK success stories - show, that Brexit would also lower EU-related output of goods and services, and erode the UK's ability to negotiate concessions from regulations on EU-related transactions.

    This article was published online by The Conversation blog on April 15, 2016
    Link to article here

    Related publications
    The impact of Brexit on foreign investment in the UK, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis Series Paper No.03, April 2016
    See Technical Appendix to CEP Brexit Analysis Series Paper No.3 here

    Related links
    John Van Reenen webpage
    Growth Programme webpage


    News Posted: 15/04/2016      [Back to the Top]

    Morning Star

    Brexit would result in UK GDP hit similar to financial crisis - report

    The loss of income per household from reduced trade and lower productivity that would result from the UK voting to leave the European Union could be similar to the decline in UK GDP during the global financial crisis, according to new research. The Centre for Economic Performance at the London School of Economics, in a new report studying the potential implications of a Brexit, said the economic consequences of the UK leaving will be dependent on the policies the country adopts following its exit.

    This article was published by the Morning Star on April 15, 2016,br> Link to article here

    Related publications
    The consequences of Brexit for UK trade and living standards, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis Paper No.2, March 2016
    CEP Brexit Analysis Paper No.2 - Technical Paper The Costs and Benefits of Leaving the EU: Trade Effects, Swati Dhingra, Hanwei Huang, Gianmarco Ottaviano, Joao Paulo Pessoa, Thomas Sampson and John Van Reenen, March 2016
    See the complete set of CEP Brexit Analysis research papers here.

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 15/04/2016      [Back to the Top]

    Benefits Canada

    How would Brexit impact the financial industry?

    Whether Britain loses access to the single market depends on the terms of any exit. Under the optimistic scenario, Britain would join the European Economic Area as non-member countries like Norway and Switzerland have done, says Thomas Sampson, assistant professor of economics at the London School of Economics. Membership in that area provides full single-market access. Under the pessimistic scenario, Britain wouldn't join the European Economic Area. ''Then there would be bilateral negotiations between Britain and the EU over what kind of access Britain has,'' says Sampson.

    This article was published online by Benefits Canada on April 15, 2016
    Link to article here

    Related publications
    The Impact of Brexit on Foreign Investment in the UK, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis No.3, April 2016
    See the complete set of CEP Brexit Analysis research papers here.

    Related links
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 15/04/2016      [Back to the Top]

    Business Insider India

    Britain's doomsday Brexit scenario could wipe £173 billion off the economy

    The report from LSE's Centre for Economic Performance argues that in the longer term the impact of Brexit on foreign direct investment into the UK, and international trade could end up costing British households around £6,400 per year. The report says "that leaving the EU and joining EEA would reduce UK income per capita by between 6.3% and 9.5% (£4,200 to £6,400 per household per year)."

    This article appeared in Business Insider India on 15 April 2016. Link to article

    Related publications
    The impact of Brexit on foreign investment in the UK, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis No.03, April 2016
    Life after Brexit : What are the UK's options outside the European Union?, Swati Dhingra and Thomas Sampson, CEP Brexit Analysis No.02, February 2016
    The consequences of Brexit for UK trade and living standards, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis No.01, March 2016

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Growth Programme webpage
    Trade Programme webpage


    News Posted: 15/04/2016      [Back to the Top]

    Chicago Tribune Online

    Osborne warns of Brexit cost as leading economies raise concerns

    Research for the London School of Economics Centre for Economic Performance, published on Friday, estimated that foreign direct investment in Britain could decline by 22 percent if voters choose to leave the EU, reducing incomes by about 3.4 percent. The analysis, carried out by Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, found that reduced access to the single market, complexities in coordination between headquarters and local branch offices and uncertainty over trade agreements with the EU would deter investors.

    This article appeared in the Chicago Tribune on 15 April 2016. Link to article

    Related publications
    The impact of Brexit on foreign investment in the UK, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis No.03, April 2016
    Life after Brexit : What are the UK's options outside the European Union?, Swati Dhingra and Thomas Sampson, CEP Brexit Analysis No.02, February 2016
    The consequences of Brexit for UK trade and living standards, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis No.01, March 2016

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Growth Programme webpage
    Trade Programme webpage


    News Posted: 15/04/2016      [Back to the Top]

    Chicago Tribune Online

    Osborne warns of Brexit cost as leading economies raise concerns

    Research for the London School of Economics Centre for Economic Performance, published on Friday, estimated that foreign direct investment in Britain could decline by 22 percent if voters choose to leave the EU, reducing incomes by about 3.4 percent. The analysis, carried out by Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, found that reduced access to the single market, complexities in coordination between headquarters and local branch offices and uncertainty over trade agreements with the EU would deter investors.

    This article appeared in the Chicago Tribune on 15 April 2016. Link to article

    Related publications
    The impact of Brexit on foreign investment in the UK, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis No.03, April 2016
    Life after Brexit : What are the UK's options outside the European Union?, Swati Dhingra and Thomas Sampson, CEP Brexit Analysis No.02, February 2016
    The consequences of Brexit for UK trade and living standards, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis No.01, March 2016

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Growth Programme webpage
    Trade Programme webpage


    News Posted: 15/04/2016      [Back to the Top]

    Chicago Tribune Online

    Osborne warns of Brexit cost as leading economies raise concerns

    Research for the London School of Economics Centre for Economic Performance, published on Friday, estimated that foreign direct investment in Britain could decline by 22 percent if voters choose to leave the EU, reducing incomes by about 3.4 percent. The analysis, carried out by Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, found that reduced access to the single market, complexities in coordination between headquarters and local branch offices and uncertainty over trade agreements with the EU would deter investors.

    This article appeared in the Chicago Tribune on 15 April 2016. Link to article

    Related publications
    The impact of Brexit on foreign investment in the UK, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis No.03, April 2016
    Life after Brexit : What are the UK's options outside the European Union?, Swati Dhingra and Thomas Sampson, CEP Brexit Analysis No.02, February 2016
    The consequences of Brexit for UK trade and living standards, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis No.01, March 2016

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Growth Programme webpage
    Trade Programme webpage


    News Posted: 15/04/2016      [Back to the Top]

    LSE Press Office

    The impact of Brexit on foreign investment in the UK

    Leaving the European Union would reduce flows of foreign direct investment (FDI) into the UK by more than a fifth, damaging productivity and lowering people's incomes, according to new research released today by LSE's Centre for Economic Performance(CEP).

    This press release was published by LSE's Press Office on April 15, 2016
    Link to article here

    Related publications
    The impact of Brexit on foreign investment in the UK, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis No.03, April 2016
    See the complete CEP Brexit Analysis Series here

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Growth Programme webpage
    Trade Programme webpage


    News Posted: 15/04/2016      [Back to the Top]

    Financial Times

    Brexit would cut foreign direct investment by fifth, report says

    Economists at the Centre for Economic Performance, based at the London School of Economics, calculate that reduced new foreign direct investment would have a much larger impact on UK national income than its earlier estimation of losses due to lower trade, writes Emily Cadman. Thomas Sampson, one of the authors, said that it was “‘pie in the sky” to think that a free trade deal with the EU like the Swiss or Canadian arrangements – which have been cited by proponents of Brexit as possible options – would resolve the FDI problem.

    This article appeared in The Financial Times on 15 April 2016.
    Link to article here

    Related publications
    The consequences of Brexit for UK trade and living standards Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis No.02, March 2016
    Life after Brexit: What are the UK's options outside the European Union?, Swati Dhingra and Thomas Sampson, CEP Brexit Analysis No.01, February 2016

    Related links
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    John Van Reenen webpage
    Thomas Sampson webpage
    Trade Programme webpage
    Growth Programme webpage
    News Posted: 15/04/2016      [Back to the Top]

    Full Fact

    EU facts behind the claims: economic costs and benefits

    …but economists think that leaving would come at some economic cost

    The FT also reviewed three recently published studies, by the Centre for Economic Performance at the London School of Economics, Price Waterhouse Coopers for the CBI, and the consultancy Oxford Economics, which support this view.

    All three use credible methodologies generally accepted by economists and researchers, in contrast to the estimates used by the campaigns, according to Mr Portes.


    News Posted: 13/04/2016      [Back to the Top]

    BBC News

    EU Referendum – Reality Check: Would Brexit cost your family £850 a year?

    A leaflet being sent out by Britain Stronger in Europe says: ''Jobs at risk, higher prices and your family worse off by at least £850 a year if we leave Europe.'' Is that figure true?
    The £850 per household figure is the optimistic end of a forecast from the well-respected Centre for Economic Performance (CEP) at the London School of Economics. The CEP is predicting a 1.3% to 2.6% fall in GDP, which is the value of everything produced in the economy, currently about £1.8tn a year. Take 1.3% of that and divide by the 27 million households in the UK and you have your answer.

    This article was published online by BBC News on April 13, 2016
    Link to article here

    Related publications
    The consequences of Brexit for UK trade and living standards, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis No.2, March 2016.
    Download the accompanying Technical Paper here
    See the complete CEP Brexit Analysis Series here

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 13/04/2016      [Back to the Top]

    Obserwator Financsowy (Poland)

    Brexit wplynie na brytyjski handel i poziom zycia

    Brexit will affect British trade and living standards
    Article by Swati Dhingra, Hanwei Huang, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen
    Smaller turnover in foreign trade in the wake of weaker integration with EU countries will cost the British economy far more than the United Kingdom would gain as a result of paying smaller sums into the EU budget. What economic impact will result in an instance of the EU? This question belongs among the most important issues raised in the debate about Brexit. The authors of some of the publications answer by analyzing what changed in EU countries after joining the Federation.

    This article was published by Obserwator Financwowy (Poland) on April 12, 2016
    Link to article here

    Related articles
    This article was originally published online by VOX on April 4, 2016. Link to article here

    Related publications
    The consequences of Brexit for UK trade and living standards, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis No.2, March 2016.
    Download the accompanying Technical Paper here
    See the complete CEP Brexit Analysis Series here

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 12/04/2016      [Back to the Top]

    The Huffington Post

    Why phones don't belong in schools

    There's no doubt that smartphones have remarkable capabilities which, in theory, could promote student learning. But the truth is that kids - in spite of the best efforts of parents and teachers - use their phones primarily to access digital amusements. ... It's therefore not surprising that a recent London School of Economics study found that schools which ban the use of phones experienced a substantial improvement in student test scores, with the researchers concluding that phones ''can have a negative impact on productivity through distraction''. Researchers found that phones hurt vulnerable students the most. Study co-author Dr. Richard Murphy, an assistant professor of economics at the University of Texas, reports: ''Allowing phones into schools would be the most damaging to low-achieving and low-income students, exacerbating any existing learning inequalities.''

    This article was published online by The Huffington Post on April 12, 2016
    Link to article here

    Related publications
    'Ill communication: technology, distraction and student performance', Louis-Philippe Beland and Richard Murphy, Centre for Economic Performance Discussion Paper No.1350, May 2015
    In brief... Phone home: should mobiles be banned in schools?, Louis-Philippe Beland and Richard Murphy. Article in CentrePiece Volume 20, Issue 1, Summer 2015

    Related links
    Richard Murphywebpage
    Education and Skills Programme webpage


    News Posted: 12/04/2016      [Back to the Top]

    The Huffington Post

    Why phones don't belong in schools

    There's no doubt that smartphones have remarkable capabilities which, in theory, could promote student learning. But the truth is that kids - in spite of the best efforts of parents and teachers - use their phones primarily to access digital amusements. ... It's therefore not surprising that a recent London School of Economics study found that schools which ban the use of phones experienced a substantial improvement in student test scores, with the researchers concluding that phones ''can have a negative impact on productivity through distraction''. Researchers found that phones hurt vulnerable students the most. Study co-author Dr. Richard Murphy, an assistant professor of economics at the University of Texas, reports: ''Allowing phones into schools would be the most damaging to low-achieving and low-income students, exacerbating any existing learning inequalities.''

    This article was published online by The Huffington Post on April 12, 2016
    Link to article here

    Related publications
    'Ill communication: technology, distraction and student performance', Louis-Philippe Beland and Richard Murphy, Centre for Economic Performance Discussion Paper No.1350, May 2015
    In brief... Phone home: should mobiles be banned in schools?, Louis-Philippe Beland and Richard Murphy. Article in CentrePiece Volume 20, Issue 1, Summer 2015

    Related links
    Richard Murphywebpage
    Education and Skills Programme webpage


    News Posted: 12/04/2016      [Back to the Top]

    Harvard Business Review

    Proof that good managers really do make a difference

    If you're reading this you probably don't need convincing, but one of the most significant milestones in economic research over the last several years was documenting empirically that it really is true. A new paper builds on this work and takes it one step further. Its main finding is that the difference between well-managed and poorly managed firms depends in large part on the quality of the people they hire as managers. In 2012, Nicholas Bloom, Raffaella Sadun, and John Van Reenen wrote about their landmark work on management in these pages. In a survey, they asked businesses whether they employed management essentials such as targets, incentives, and monitoring. Firms that did do these things, they found, were more productive and more likely to endure.

    This article was published by the Harvard Business Review on April 11, 2016
    Link to article here

    Related articles
    Does management really work?, Nicholas Bloom, Raffaella Sadun and John Van Reenen, Harvard Business Review, November 2012 Related publications
    'Measuring and Explaining Management Practices Across Firms and Countries', Nick Bloom and John Van Reenen, Centre for Economic Performance Discussion Paper No.716, March 2006

    Related links
    Nicholas Bloom webpage
    Raffaella Sadun webpage
    John Van Reenen webpage
    World Management Survey (WMS) webpage
    Growth Programme webpage


    News Posted: 11/04/2016      [Back to the Top]

    ITV News

    ITV Report: Finding the facts: the truth behind the referendum claims on the UK economy

    There is a wide consensus that leaving the EU would come at some economic cost. For example, every year the Financial Times surveys a group of over 100 economists. Similarly, a recent gathering of economists at the Royal Economic Society also expressed support for staying in the EU. The FT also reviewed three recently published studies, by the Centre for Economic Performance at the London School of Economics, Price Waterhouse Coopers for the CBI, and the consultancy Oxford Economics, which support this view.

    This article was published by ITV News as an ITV Report on April 11, 2016
    Link to article here

    Related publications
    The Consequences of Brexit for UK Trade and Living Standards, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis No.02, March 2016
    Life after Brexit: What are the UK's options outside the European Union?, Swati Dhingra and Thomas Sampson, CEP Brexit Analysis No.01, February 2016

    Related links
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 11/04/2016      [Back to the Top]

    Ocnus.net

    It is not just foreign investors, African wealthiest are not paying taxes either

    Gabriel Zucman, from the London School of Economics, estimates that 30% of all African financial wealth is held offshore, amounting to about $500 billion. This means African governments are losing out on roughly $15 billion in taxes from individuals annually, and this does not take into account non-financial wealth.

    This article appeared in Ocnus.net on 10 April 2016. Link to article

    Related links
    Gabriel Zucman webpage
    Growth Programme webpage
    News Posted: 10/04/2016      [Back to the Top]

    OPEA Business

    Ten conclusions based on Nicholas Bloom and John Van Reenen's management data

    The article is an in depth summary of Nicholas Bloom and John Van Reenen's research on the difference in management practices. Ideally, this summary highlights the key points of focus as established by the authors.

    This article was published online by OPEA Business blog on April 7, 2016
    Link to article here

    Related publications
    'Measuring and Explaining Management Practices Across Firms and Countries', Nick Bloom and John Van Reenen, Centre for Economic Performance Discussion Paper No.716, March 2006
    Measuring and Explaining Management Practices Across Firms and Nations, Nick Bloom and John Van Reenen, Quarterly Journal of Economics, Volume 122 (4), November 2007, 1351-1408.

    Related links
    Nicholas Bloom webpage
    John Van Reenen webpage
    Growth Programme webpage


    News Posted: 07/04/2016      [Back to the Top]

    Daily Mail

    You'll be hardest hit if we quit the EU, PM will warn young voters: David Cameron to tell 18 to 34-year-olds that opportunities for work, study and travel will suffer if Britain decides to leave

    He will add that a broad range of experts, including the Bank of England and the London School of Economics, agree that the country's economy would suffer as a direct consequence of leaving the EU.

    This article appeared in the Daily Mail on 7 April 2016 Link to article

    Related publications
    The Consequences of Brexit for UK Trade and Living Standards, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis No.02, March 2016
    Life after Brexit: What are the UK's options outside the European Union?, Swati Dhingra and Thomas Sampson, CEP Brexit Analysis No.01, February 2016

    Related links
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage
    News Posted: 07/04/2016      [Back to the Top]

    The Conversation

    Why claims that Scotland would save £1.5bn out of EU are disingenuous

    Estimating the wider economic costs of Brexit on the UK and Scotland is subject to significant uncertainty, of course. It requires assumptions about how the UK’s relationship with the EU would evolve -– what sort of tariff or non-tariff barriers to trade might exist, for example – as well as how Britain’s trading relationship with non-EU countries might change. Three reports have recently tried to do this, produced by the London School of Economics, Oxford Economics and the CBI. They use different methodologies and each run a number of scenarios using different assumptions. Although there is a lot of uncertainty around the results, all three estimate that Brexit would impose economic costs on the UK.

    This article appeared on The Conversation on 6 April 2016. Link to article

    Related publications
    The consequences of Brexit for UK trade and living standards Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen March 2016
    Life after Brexit: What are the UK's options outside the European Union?, Swati Dhingra and Thomas Sampson, CEP Brexit Analysis No.01, February 2016

    Related links
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    John Van Reenen webpage
    Thomas Sampson webpage
    Trade Programme webpage
    Growth Programme webpage
    News Posted: 06/04/2016      [Back to the Top]

    The Guardian

    How would Brexit affect finance for SMEs?

    Swati Dhingra
    Assistant professor at the department of economics at the London School of Economics and co-author of Life after Brexit: what are the UK’s options outside the European Union?
    One of the four basic freedoms of the EU is free movement of capital, which enables firms to invest in other European companies and to raise money in EU member countries. But the option of raising capital abroad is typically beyond the capacity of most SMEs, who instead rely on banks and government bodies for external finance

    This article appeared in the Guardian on 5 April 2016 Link to article

    Related publications
    The consequences of Brexit for UK trade and living standards Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen March 2016
    Life after Brexit: What are the UK's options outside the European Union? Swati Dhingra and Thomas Sampson, CEP Brexit Analysis No.01, February 2016

    Related links
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    John Van Reenen webpage
    Thomas Sampson webpage
    Trade Programme webpage
    Growth Programme webpage
    News Posted: 05/04/2016      [Back to the Top]

    RISE - Research on Improving Systems of Education

    New research into developing management tools could aid education reform

    A new RISE working paper, describing the development of an expanded survey tool, presents research findings that could be used to help systematically measure management practices in schools in developing countries, and pinpoint where they can be improved. Authors Renata Lemos and Daniela Scur (both with the Centre for Economic Performance at London School of Economics) have taken an existing tool used by the World Management Survey (WMS) and expanded its model in order to better consider the strength of measurement practices in the public sector of developing countries.

    This article was published online by RISE (Research on Improving Systems of Education) on April 5, 2016
    Link to article here

    Related publications
    'International Data on Measuring Management Practices', Nicholas Bloom, Renata Lemos, Raffaella Sadun, Daniela Scur and John Van Reenen, Centre for Economic Performance Occasional Paper No.46, January 2016.
    Bad management: a constraint on economic development?, Renata Lemos and Daniela Scur. Article in CentrePiece, Volume 18, Issue 1, Summer 2013.

    Related links
    Renata Lemos webpage
    Daniela Scur webpage
    Growth Programme webpage
    Management Practices and Organisational Structures research webpage


    News Posted: 05/04/2016      [Back to the Top]

    Bloomberg Radio Network

    LSE mention

    Reference to John van Reenen supporting Lord Browne’s work to bring trust back in relation to big business.

    This programme was broadcast on Bloomberg Radio Network on 4 April 2016 Link

    Related Links
    John Van Reenen webpage
    Growth Programme webpage
    News Posted: 04/04/2016      [Back to the Top]

    The Irish Times

    Irish food industry knows how to survive a Brexit

    When it comes to the idea of a British exit from the European Union (Brexit), there seems to be widespread fear among food industry leaders here. A recently published study by the London School of Economics concludes that Ireland will “suffer the largest proportional losses” of any country after Britain, due to the interdependency of our economies, if Brexit happens.

    This article appeared in the Irish Times on 4 April 2016. Link to article

    Related publications
    The consequences of Brexit for UK trade and living standards, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis No.02, March 2016
    Life after Brexit: What are the UK's options outside the European Union?, Swati Dhingra and Thomas Sampson, CEP Brexit Analysis No.01, February 2016

    Related links
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    John Van Reenen webpage
    Thomas Sampson webpage
    Trade Programme webpage
    Growth Programme webpage

    News Posted: 04/04/2016      [Back to the Top]

    VOX

    The consequences of Brexit for UK trade and living standards

    Article by Swati, Dhingra, Hanwei Huang, Gianmarco I.P. Ottaviano, Thomas Sampson and John Van Reenen
    The economic consequences of leaving the EU are at the heart of the Brexit debate. This column studies how changes in trade and fiscal transfers to the EU following Brexit would affect living standards in the UK. Across a range of scenarios, Brexit leads to lower income per capita, but the magnitude of the loss depends on what trade policies the UK adopts post-Brexit. To minimise the economic costs of Brexit, the UK would have to remain closely integrated into the Single Market.

    This article was published online by the VOX on April 4, 2016
    Link to article here

    Related publications
    The consequences of Brexit for UK trade and living standards, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis No.2, March 2016.
    Download the accompanying Technical Paper here
    See the complete CEP Brexit Analysis Series here

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 04/04/2016      [Back to the Top]

    The World Post

    African Governments Aren't Taxing the Rich. Here's Why They Should

    It is also hard for African governments to tax the rich because they hide their wealth using the offshore financial system. Gabriel Zucman, from the London School of Economics, estimates that 30% of all African financial wealth is held offshore, amounting to about $500 billion.

    This article appeared in the World Post on 3 April 2016 Link to article

    Related links
    Gabriel Zucman webpage
    Growth Programme webpage
    News Posted: 03/04/2016      [Back to the Top]

    The Conversation

    African governments aren't taxing the rich. Why they should

    It is also hard for African governments to tax the rich because they hide their wealth using the offshore financial system. Gabriel Zucman, from the London School of Economics, estimates that 30% of all African financial wealth is held offshore, amounting to about $500 billion.

    This article appeared on The Conversation on 3 April 2016. Link to article

    Related links
    Gabriel Zucman webpage
    Growth Programme webpage
    News Posted: 03/04/2016      [Back to the Top]

    The New York Times

    Uncertain economics influence 'Brexit' talk

    The Center for Economic Performance, at the London School of Economics, which sees itself neutral, says the worst-case scenario in the event of a vote to leave the bloc is a 6.3 percent to 9.5 percent reduction in G.D.P., ''a loss of a similar size to that resulting from the global financial crisis of 2008/09.'' The best case, it suggests, is a loss of 2.2 percent of G.D.P., with the European Union imposing costs on Britain for leaving, and to discourage others from doing so.

    This article was published by The New York Times on April 2, 2016
    Link to article here

    Related publications
    See the complete CEP Brexit Analysis Series here

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 02/04/2016      [Back to the Top]

    Gulf Times

    Minimum wage raised, critics downplay effect

    The new increased amount compares with an 8.50 euro minimum wage rate in Germany and almost 9.70 euros in France. In Britain, where unemployment is relatively low at around 5%, large wage inequalities persist and London School of Economics professor Alan Manning described the NLW as “more symbolic” than anything else. “It’s significant but I don’t think one should exaggerate its significance,” he said.

    This article appeared in The Gulf Times on 2 April 2016. Link to article

    Also in:
    The Gulf Today
    Jamaica Observer

    Related Publications
    Minimum wages: the economics and the politics, Alan Manning. Article in CentrePiece, Volume 19, Issue 1, Spring 2014

    Related Links
    Alan Manning webpage
    Community Programme webpage
    Labour Markets Programme webpage
    News Posted: 02/04/2016      [Back to the Top]

    The Boston Globe

    Uncertain economics influence 'Brexit' talk

    The Center for Economic Performance, at the London School of Economics, which sees itself neutral, says the worst-case scenario in the event of a vote to leave the bloc is a 6.3 percent to 9.5 percent reduction in GDP, ''a loss of a similar size to that resulting from the global financial crisis of 2008/09.'' The best case, it suggests, is a loss of 2.2 percent of GDP, with the European Union imposing costs on Britain for leaving, and to discourage others from doing so.

    This article was published by The Boston Globe (USA) on April 2, 2016
    Link to article here

    Related publications
    See the complete CEP Brexit Analysis Series here

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 02/04/2016      [Back to the Top]

    Times Higher Education

    The GDP-Higher Ed link

    Expansion of higher education systems around the world is likely to continue, according to a study that found a strong correlation between opening universities and significantly increased economic growth. An analysis of data on 14,870 higher education institutions in 78 countries over six decades, presented at the annual conference of the Royal Economic Society, reveals that doubling the number of universities in a region results in a 4.7 percent increase in gross domestic product per capita in that region within five years, on average. John Van Reenen, professor of economics at the London School of Economics and Political Science, and Anna Valero, a research economist at LSE's Center for Economic Performance, found that opening universities had a positive impact not only in the ''home'' region but also in neighboring areas.

    This article was published online by the Times Higher Education on March 31, 2016
    Link to article here

    Related article
    Growth multiplier: how university expansion increases national income, Anna Valero and John Van Reenen, LSE British Politics and Policy blog, March 24, 2016

    Related links
    Anna Valero webpage
    John Van Reenen webpage
    Growth Programme webpage


    News Posted: 31/03/2016      [Back to the Top]

    Times Higher Education

    The GDP-Higher Ed link

    Expansion of higher education systems around the world is likely to continue, according to a study that found a strong correlation between opening universities and significantly increased economic growth. An analysis of data on 14,870 higher education institutions in 78 countries over six decades, presented at the annual conference of the Royal Economic Society, reveals that doubling the number of universities in a region results in a 4.7 percent increase in gross domestic product per capita in that region within five years, on average. John Van Reenen, professor of economics at the London School of Economics and Political Science, and Anna Valero, a research economist at LSE's Center for Economic Performance, found that opening universities had a positive impact not only in the ''home'' region but also in neighboring areas.

    This article was published online by the Times Higher Education on March 31, 2016
    Link to article here

    Related article
    Growth multiplier: how university expansion increases national income, Anna Valero and John Van Reenen, LSE British Politics and Policy blog, March 24, 2016

    Related links
    Anna Valero webpage
    John Van Reenen webpage
    Growth Programme webpage


    News Posted: 31/03/2016      [Back to the Top]

    Caledonian Trust PLC

    Half yearly Report

    In phase three, after the negotiated settlement, the economic effects are the subject of wide and varying analysis and speculation, based largely on the eventual outcome of the settlement. Put simply, there are two main variables: what will the settlement be and what are the effects of such a settlement? Most economic studies report that Brexit would damage the UK economy. Three recent reports from Centre for Economic Performance, the CBI/PWC and Oxford Economics all consider that in the worst case scenario the long-term effects would average about minus £4,000 per annum per household, while the best outcome would vary from minus £680 to plus £70. Martin Wolf, associate editor and chief economic commentator of the FT, forthright as usual, says: ''A vote for Brexit is a leap into the abyss''. UK Industry and Financial ''establishment'' figures are prominent amongst those predicting an unfavourable outcome for Brexit.

    This Report was published by the Caledonian Trust PLC on March 31, 2016
    Link to the Report here

    Related publications
    The complete series of Brexit Papers are available online here

    Related links
    Holger Breinlich webpage
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    John Van Reenen webpage
    Thomas Sampson webpage
    Growth Programme webpage
    Trade Programme webpage


    News Posted: 31/03/2016      [Back to the Top]

    The Telegraph

    David Cameron: only thing that unites eurosceptics is 'inability' to spell out vision for Brexit

    David Cameron has mocked eurosceptics for failing to work together as a new report claims each British family pays £200 a year less thanks to the European Union. ... Meanwhile a report produced by the Centre for Economic Performance at the London School of Economics has found that families across the country benefit from the EU's free trade agreements. It says consumer prices fell by 0.5 per cent for UK consumers as a result of the agreements, equating to a saving of £5.3bn every year or £199 per British household.

    This article was published by the Telegraph on March 31, 2016
    Link to article here

    Related publications
    'The consequences of Brexit for UK trade and living standards', Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Series No.02, March 2016

    Related links
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 31/03/2016      [Back to the Top]

    Times Higher Education

    Universities and economic growth go together

    Some say of newer institutions that more means less, but that's not true - more universities mean a larger economy. ... A study from the London School of Economics, ''The economic impact of universities: evidence from across the globe'', aims to do just this, assessing the link between growth in university numbers and gross domestic product per capita between 1950 and 2010, using data on 15,000 universities in 78 countries. The conclusion of authors Anna Valero and John Van Reenen is that doubling the number of universities per capita is associated with over 4 per cent higher GDP per capita within the region, and that this also ''spills over'' to neighbouring regions.

    This article was published online by The Times Higher Education on March 31, 2016
    Link to article here

    Related links
    Anna Valero webpage
    John Van Reenen webpage
    Growth Programme webpage


    News Posted: 31/03/2016      [Back to the Top]

    City AM

    EU referendum: British households save £200 per year thanks to EU free trade agreements - new London School of Economics (LSE) study

    British households save £200 per year thanks to European Union free trade agreements, according to a new report out today from the London School of Economics. The study from the LSE’s Centre for Economic Performance says British families will benefit from more savings from planned EU trade agreements with the US and Japan, worth an additional £238 for each UK household.

    This article appeared in City AM on 31 March 2016. Link to article

    Related publications
    The consequences of Brexit for UK trade and living standards Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen March 2016
    Life after Brexit: What are the UK's options outside the European Union?, Swati Dhingra and Thomas Sampson, CEP Brexit Analysis No.01, February 2016

    Related links
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    John Van Reenen webpage
    Thomas Sampson webpage
    Trade Programme webpage
    Growth Programme webpage

    News Posted: 31/03/2016      [Back to the Top]

    VOX

    Royal Economic Society's panel on Brexit

    On 23 June, the UK will decide whether or not to leave the EU. While the general population is divided on the issue, the overall consensus among economists at a session on Brexit at the Royal Economic Society's annual conference was that Britons should vote to stay in the EU. This column presents the views of the four panellists at the session on the trade implications and the economic and political economy costs of Brexit.

    The four panellists at the session, titled ''Brexit?'', offered reasons for the apparent consensus (aside from the number of European economists in the room). Brexiteers argue that by leaving the EU, the UK could regain control over its economic policy, and negotiate a new, better trade deal with Europe.

    John Van Reenen (London School of Economics) outlined just how much he thought Brexit would hurt the British economy. Although it would bring some economic gains, in the form of a lower fiscal contribution to the EU (around 0.3% of GDP) and slightly boosted growth from stripping away some regulations, these would not outweigh the economic costs. After accounting for the loss of trade with the EU, lower foreign direct investment and lower immigration, he reckoned that GDP would be between 1.3% and 2.6% of GDP lower (£850 - £1,700 per household in Britain, per year), rising to between 6.3% and 9.5% after accounting for the dynamic effects of Brexit on productivity (Dhingra et al. 2016).

    Next, Swati Dhingra (London School of Economics) delved into the detail of the economic costs associated with Brexit. Immigration boosts productivity by allowing workers to sort efficiently into the right jobs (Di Giovanni et al. 2014), and 3 immigrants from the EEA make a positive contribution to the UK public finances (Dustmann and Frattini 2014), so curbs on immigration would be costly. Fears that immigration hurts employment among natives also seem misplaced (Wadsworth 2015). Bruno et al. (2016) found that joining the EU boosted inward flows of FDI by around 20% once a country joined the EU. On the assumption that leaving the EU would reduce them by as much, and combined with estimates from a cross-country growth regression, Dhingra calculated that households would lose out by at least £453 per year on average from the loss of FDI. Dhingra also explored whether Britain would be able to negotiate better trade deals with non-EU trade blocs outside of the EU.

    This article was published by VOX on March 30, 2016
    Link to article here

    Related publications
    The Consequences of Brexit for UK Trade and Living Standards, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis No.02, March 2016
    Life after Brexit: What are the UK's options outside the European Union?, Swati Dhingra and Thomas Sampson, CEP Brexit Analysis No.01, February 2016

    Related links
    Swati Dhingra webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 30/03/2016      [Back to the Top]

    LSE Business Review blog

    Crowdfunding solves market failures in new venture financing

    Susanna Khavul and Saul Estrin of the Centre for Economic Performance argue that crowdfunding engages a wider pool of entrepreneurs and investors than traditional venture capital markets did.

    This article was published by the LSE Business Review blog on March 30, 2016
    Link to article here

    Related publications
    Equity crowdfunding: a new model for financing entrepreneurship?, Susanna Khavul and Saul Estrin. Article in CentrePiece, Volume 20, Issue 3, Winter 2015/16.

    Related links
    Susanna Khavul webpage
    Saul Estrin webpage
    Growth Programme webpage


    News Posted: 30/03/2016      [Back to the Top]

    cYceon.com

    Brexit fears triggered an avalanche of reports

    UK's exit from the European Union (EU) - the Brexit - could cost the UK economy £100 billion and 950,000 jobs by 2020, pointed out a PwC-made report commissioned by the Confederation of British Industry (CBI) whose 4 in 5 of its members, who employ ... Another report delivered by the London School of Economics (LSE)'s Centre for Economic Performance (CEP) explained that the Brexit would cause a ...

    This article was published online by cYceon.com on March 29, 2016
    Link to article here

    Related publications
    'The consequences of Brexit for UK trade and living standards', Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Series No.02, March 2016

    Related links
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 29/03/2016      [Back to the Top]

    Economic Calendar

    UK Budget encourages more saving with higher ISA Allowance

    The Centre for Economic Performance estimates that Brexit would reduce UK gross domestic product (GDP) by up to 3.1%. However, this doesn't factor in losses associated with lower foreign direct investment (FDI), fewer skilled immigrants and reduced trade. A recession will likely impede Britons' ability to save, making the latest ISA allowance increase obsolete for a large swathe of the British population.

    This article was published online by Economic Calendar on March 26, 2016
    Link to article here

    Related publications
    Life after Brexit : What are the UK's options outside the European Union?, Swati Dhingra and Thomas Sampson, CEP Brexit Analysis No.2, March 2016
    The consequences of Brexit for UK trade and living standards, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis No.01, March 2016

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 26/03/2016      [Back to the Top]

    The Guardian

    NHS would be put under threat by Brexit, says Jeremy Hunt

    Hunt argues that, with the NHS budget already under huge pressure, funding levels can only be maintained if the British economy remains strong. He cites a series of economic surveys, including from the CBI, the London School of Economics and Oxford Economics, as evidence of the adverse impact of an exit on the UK economy and the government's ability to stick to high levels of funding for public services.

    This article was published by the Guardian online on March 26, 2016
    Link to article here

    Related publications
    The consequences of Brexit for UK trade and living standards, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis No.02, March 2016
    Life after Brexit: What are the UK's options outside the European Union?, Swati Dhingra and Thomas Sampson, CEP Brexit Analysis No.01, February 2016

    Related links
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    John Van Reenen webpage
    Thomas Sampson webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 26/03/2016      [Back to the Top]

    European Politics and Policy blog (EUROPP)

    Growth multiplier: How university expansion increases national income

    What impact do universities have on a country's economy? Outlining the results of a study of universities across 78 countries, Anna Valero and John Van Reenen find that doubling the number of universities in a region increases that region's income. They note that if the UK were to add one university to each region, national income would increase by about 0.7 per cent.

    This article was published online by the LSE's European Politics and Policy blog (EUROPP) on March 25, 2016
    Link to article here

    Related publications
    The Economic Impact of Universities: Evidence from Across the Globe, Anna Valero and John Van Reenen, CEP mimeo, March 23, 2016

    Related Links
    Anna Valero webpage
    John Van Reenen webpage
    Growth Programme webpage


    News Posted: 25/03/2016      [Back to the Top]

    LSE Communications blog

    Ten years on, how are universities using twitter to engage with their communities? #LoveTwitter LSE Round-Up

    Amy Mollett, Social Media Manager, rounds up how LSE currently uses Twitter for sharing research, interacting with students and alumni, and promoting events. She also looks at what the future of academic social media might look like. For #LoveTwitter day she digs into the altmetrics and shares the most tweeted about pieces of LSE research.

    Research and Twitter at LSE
    We also have Department feeds and our own official @LSENews and @LSEalumni accounts that keep students and our community up to date about achievements and new research. Research is proving to be an area around which we're seeing increased engagement; we know there are lots of conversations going on all around the world about LSE-authored research and we get involved with those when it makes sense. A recent example is the interest in the CEP report on the consequences of Brexit for UK trade and living standards.

    This article was published online in the LSE Communications blog on March 24, 2016
    Link to article here

    Related links
    CEP BREXIT Analysis Series webpage
    See CEP on Twitter @CEP_LSE and use #CEPbrexit
    News Posted: 24/03/2016      [Back to the Top]

    British Politics and Policy Blog

    Growth multiplier: how university expansion increases national income, article By Anna Valero and John Van Reenen

    Looking at universities across 78 countries, Anna Valero and John Van Reenen find that doubling the number of universities in a region increases that region’s income. So if the UK were to add one university to each region, national income would increase by about 0.7 per cent

    This article appeared on the LSE British Politics and Policy Blog on 24 March 2016
    Link to article here

    Related publications
    The Economic Impact of Universities: Evidence from Across the Globe, Anna Valero and John Van Reenen, CEP mimeo, March 23, 2016

    Related Links
    Anna Valero webpage
    John Van Reenen webpage
    Growth Programme webpage
    News Posted: 24/03/2016      [Back to the Top]

    Times Higher Education

    Opening universities linked to increased GDP

    Expansion of higher education systems around the world is likely to continue, according to a study that found a strong correlation between opening universities and significantly increased economic growth. An analysis of data on 14,870 higher education institutions in 78 countries over six decades, presented at the annual conference of the Royal Economic Society, reveals that doubling the number of universities in a region results in a 4.7 per cent increase in gross domestic product per capita in that region within five years, on average. John Van Reenen, professor of economics at the London School of Economics and Political Science, and Anna Valero, a research economist at LSE's Centre for Economic Performance, found that opening universities had a positive impact not only in the ''home'' region but also in neighbouring areas.

    This article was published by the Times Higher Education on March 23, 2016
    Link to article here

    Related publications
    The Economic Impact of Universities: Evidence from Across the Globe, Ann Valero and John Van Reenen, CEP mimeo, March 23, 2016.

    Related links
    Anna Valero webpage
    John Van Reenen webpage
    Growth Programme webpage


    News Posted: 23/03/2016      [Back to the Top]

    LSE Business Review blog

    The more universities in a country, the faster its economic growth

    If the UK added 1 university to each region, national income would grow 0.7%, write Anna Valaero and John Van Reenen.

    This article was published by the LSE Business Review blog on March 23, 2016
    Link to article here

    Related publications
    The Economic Impact of Universities: Evidence from Across the Globe, Anna Valero and John Van Reenen, CEP mimeo, March 23, 2016

    Related links
    Anna Valero webpage
    John Van Reenen webpage
    Growth Programme webpage


    News Posted: 23/03/2016      [Back to the Top]

    City A.M

    The economic case against Brexit is stacking up fast

    Over the last week alone, there have been two further studies – from Oxford and London School of Economics –which show that a vote to leave is a vote for a less prosperous UK.

    This article appeared in City A.M. on 23 March 2016. Link to article

    Related publications
    The consequences of Brexit for UK trade and living standards Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen March 2016
    Life after Brexit: What are the UK's options outside the European Union?, Swati Dhingra and Thomas Sampson, CEP Brexit Analysis No.01, February 2016

    Related links
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    John Van Reenen webpage
    Thomas Sampson webpage
    Trade Programme webpage
    Growth Programme webpage
    News Posted: 23/03/2016      [Back to the Top]

    moneyexpert

    CBI: EU exit could cost £100bn and 1m jobs

    The Centre for Economic Performance at LSE released a report last week that also states that British living standards and trade will be damaged if an ''out'' vote wins the referendum. In their research, the body states that the best case scenario would still see household incomes hit by around £850 per year. The organisation went on to say that this figure could rise to as much as £6,400 per household if trade and productivity are more severely impacted; this represents a fall not seen since the peak of the financial crisis in 2008-09.

    This article was published online by moneyexpert on March 22, 2016
    Link to article here

    Related publications
    Life after Brexit: What are the UK's options outside the European Union?, Swati Dhingra and Thomas Sampson, CEP Brexit Analysis No.01, February 2016
    The consequences of Brexit for UK trade and living standards, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis No.02, March 2016.
    Download the accompanying Technical Paper here
    See the complete CEP Brexit Analysis Series here

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 22/03/2016      [Back to the Top]

    The Financial Times

    Is Britain better off outside the EU?

    Is Britain better off outside the EU? Over the past four days, three economic research groups have attempted to answer that question. All recognise the question is difficult because no one knows what relationship the UK will be able to strike with the rest of the EU if it votes to leave, or whether links to other countries will change. Economists do not generally claim these models provide a clear answer, but they do claim to offer insight into the magnitude of the issue and the importance of the assumptions. All of the three groups - the Centre for Economic Performance at the London School of Economics, CBI/PwC and Oxford Economics - provide a range of likely outcomes depending on the relationship Britain strikes with the EU if it leaves. None are estimated using the same techniques. All suggest that leaving the bloc will have a significant cost for British households, although under certain assumptions, those costs can be contained, they suggest.

    This article was published by the Financial Times on March 22, 2016
    Link to article here

    Related publications
    Life after Brexit: What are the UK's options outside the European Union?, Swati Dhingra and Thomas Sampson, CEP Brexit Analysis No.01, February 2016
    The consequences of Brexit for UK trade and living standards, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis No.02, March 2016.
    Download the accompanying Technical Paper here
    See the complete CEP Brexit Analysis Series here

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 22/03/2016      [Back to the Top]

    LSE Business Review

    The question is not 'if' but 'how much' Brexit would cost the UK

    National income may fall between 1.3% and 2.6%, writes a Centre for Economic Performance team
    Those who say that leaving the EU is a win-win because Britons will both feel more free and become a lot richer are not being candid about the evidence. The standard trade models given here, calculations from trade and income differences of being in and out of the EU and also historical assessments show a consistent picture - Brexit will cost. The only question is 'exactly how much'?

    This article was published by the LSE Business Review blog on March 22, 2016
    Link to article here

    Related publications
    The consequences of Brexit for UK trade and living standards, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis No.2, March 2016.
    Download the accompanying Technical Paper here
    See the complete CEP Brexit Analysis Series here

    Related links
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme here


    News Posted: 22/03/2016      [Back to the Top]

    The Financial Times

    Free Lunch: Brexitonomics

    How do we tally the economic consequences of Brexit? ... What matters is the quality of the jobs that Britons will work in outside versus inside the EU. For material well-being, that depends largely on whether the UK's trade with the outside world will be changed by Brexit. On this, the analysis by economists at the LSE's Centre for Economic Performance, a serious piece of research, is as good an estimate as is possible to make.

    This article was published in the Financial Times on March 22, 2016
    Link to article here

    Related publications
    The consequences of Brexit for UK trade and living standards, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis No.2, March 2016.
    Download the accompanying Technical Paper here
    See the complete CEP Brexit Analysis Series here

    Related links
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 22/03/2016      [Back to the Top]

    LSE British Politics and Policy Blog

    The question is not whether Brexit will cost the UK in economic terms but how much

    For over two years, a research team at the Centre for Economic Performance (CEP) has been studying the likely impact of the UK leaving the European Union. Their latest report focuses on the impact of 'Brexit' through changing trade patterns. Under 'optimistic' assumptions, there is a fall in national income of 1.3 per cent (about £850 per household). Under 'pessimistic' assumptions, this doubles to 2.6 per cent. When the dynamic effects of higher trade costs on productivity are included, the cost may rise to between 6.3 per cent and 9.5 per cent in the long run

    This article was published by the LSE British Politics and Policy blog on March 21, 2016
    Link to article here

    Related publications
    The consequences of Brexit for UK trade and living standards,Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis Paper No.02, March 2016
    Life after Brexit: What are the UK's options outside the European Union?, Swati Dhingra and Thomas Sampson, CEP Brexit Analysis Paper No.01, February 2016

    Related links
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    John Van Reenen webpage
    Thomas Sampson webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 21/03/2016      [Back to the Top]

    RTE News (Ireland)

    Brexit would cause 'serious economic shock' - Confederation of British Industry

    The CBI also said savings from reduced contributions to the EU's budget and regulation would be greatly outweighed by the negative impact on trade and investment. Last week a report by the Centre for Economic Performance at the London School of Economics said that Ireland would be the worst affected by any British exit from the EU. Commenting on the report, CBI Director-General Carolyn Fairbairn said: ''This analysis shows very clearly why leaving the European Union would be a real blow for living standards, jobs and growth''.

    This article was published by RTE News (Ireland) on March 21, 2016
    Link to article here

    Related publications
    Life after Brexit: What are the UK's options outside the European Union?, Swati Dhingra and Thomas Sampson, CEP Brexit Analysis No.01, February 2016
    The consequences of Brexit for UK trade and living standards, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis No.02, March 2016.
    Download the accompanying Technical Paper here
    See the complete CEP Brexit Analysis Series here

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 21/03/2016      [Back to the Top]

    The Guardian

    Brexit could cost £100bn and nearly 1m jobs, CBI warns

    Last week a new report from the Centre for Economic Performance (CEP) at the London School of Economics also warned that UK trade and living standards would suffer. Average incomes would fall by £850 a household in the most optimistic post-Brexit scenario for UK trade, in which Britain adopts Norway’s model and remains part of the EU’s single market. But the CEP estimated that the impact from reduced trade and lower productivity could be as high as £6,400 per household, similar to the decline seen at the height of the financial crisis in 2008-09.

    This article appeared in the Guardian on 21 March 2016 Link to article

    Related publications
    The consequences of Brexit for UK trade and living standards Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen March 2016
    Life after Brexit: What are the UK's options outside the European Union?, Swati Dhingra and Thomas Sampson, CEP Brexit Analysis No.01, February 2016

    Related links
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    John Van Reenen webpage
    Thomas Sampson webpage
    Trade Programme webpage
    Growth Programme webpage
    News Posted: 21/03/2016      [Back to the Top]

    LSE BrexitVote blog

    The cost of Brexit to trade? At least £850 per household, per year

    In this extract from the LSE Centre for Economic Performance's second briefing paper on Brexit, Swati Dhingra, John van Reenen, Thomas Sampson and Gianmarco Ottaviano conclude that - in the most optimistic scenario - UK income would drop by 1.3% (or £850 per household each year) if we left the EU. In a more pessimistic scenario, the drop would be 2.6%; it could even be up to 9.6%.

    This article was published by the LSE BrexitVote blog on March 19, 2016
    Link to blog here

    Related publications
    The consequences of Brexit for UK trade and living standards, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis No.2, March 2016.
    Download the accompanying Technical Paper here
    See the complete CEP Brexit Analysis Series here

    Related links
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 19/03/2016      [Back to the Top]

    Bloomberg

    'Brexit' May Wipe $9,300 From U.K. Households, CEP Report Says

    A British exit from the European Union would wipe as much as 6,400 pounds ($9,300) from average household incomes in the U.K. as trade deals sour, according to research by the London School of Economics. “We consistently find that by reducing trade, ‘Brexit’ would lower U.K. living standards,” wrote Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen at the LSE’s Centre for Economic Performance. “The fall in income per capita resulting from lower trade more than offsets any savings that the U.K. obtains from reduced fiscal contributions to the EU budget.”


    News Posted: 18/03/2016      [Back to the Top]

    The World Bank blog - Development Impact

    Weekly links March 18: RandD credits, Indian internal migration, Accra's slums, and more...

    Weekly recommendations include:
    On the LSE Business Review blog, work by Nguyen and Van Reenen using an RDD to show that tax credits increased R&D spending and innovation among SMEs in the UK.

    The item was published by The World Bank on March 18, 2016
    Link to article here

    Related articles
    UK business R&D would be 10 percent lower in the absence of tax breaks, write Kieu-Trang Nguyen and John Van Reenen. Article on the LSE Business Review blog, published 11 March 2016.

    Related publications
    'Do Fiscal Incentives Increase Innovation? An RD Design for R&D', Antoine Dechezlepretre, Elias Einio, Ralf Martin, Kieu-Trang Nguyen and John Van Reenen, Centre for Economic Performance Discussion Paper No.1413, March 2016.

    Related links
    Kieu-Trang Nguyen webpage
    John Van Reenen webpage
    Growth Programme webpage


    News Posted: 18/03/2016      [Back to the Top]

    The Financial Times

    LSE says Brexit cost for households £850 a year

    Leaving the EU would cost UK households at least £850 a year each, according to research that prompted a furious response from Brexit supporters on Friday. The economists at the Centre for Economic Performance at the London School of Economics, which receives core funding from the UK taxpayer-funded Economic and Social Research Council, said losses could be much higher if they assumed a bigger hit to trade and competition.

    This article was published by the Financial Times on March 18, 2016
    Link to article here

    Related publications
    Life after Brexit: What are the UK's options outside the European Union?, Swati Dhingra and Thomas Sampson, CEP Brexit Analysis No.01, February 2016
    The consequences of Brexit for UK trade and living standards, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis No.02, March 2016.
    Download the accompanying Technical Paper here
    See the complete CEP Brexit Analysis Series here

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 18/03/2016      [Back to the Top]

    The Independent

    EU referendum: Brexit would spark 'constitutional crisis' for UK, warns Welsh First Minister Carwyn Jones

    A vote to leave the European Union would spark a 'constitutional crisis' that could put the future of the UK at risk, according to the Welsh First Minister. In an exclusive interview with The Independent, Welsh leader Carwyn Jones used the strongest language of the referendum campaign so far to warn of the disastrous political consequences if the separate nations of the UK vote different ways in June.

    A financial shock to rival the 2008 crash - or 'An inspiration'? Quitting the EU could cost every UK family £6,400, delivering a shock to incomes equivalent to the 2008 banking crash, says a study published yesterday. In the most optimistic scenario, average incomes would fall by £850 per household, said the Centre for Economic Performance at the London School of Economics. Britain's GDP would fall by £26bn-£55bn due to lower trade and productivity, a bigger hit than the other 27 EU states combined, it said.

    This article was published by The Independent on March 18, 2016
    Link to article here

    Related publications
    The consequences of Brexit for UK trade and living standards, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis No.2, March 2016.
    Download the accompanying Technical Paper here
    See the complete CEP Brexit Analysis Series here

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 18/03/2016      [Back to the Top]

    BBC News

    EU Referendum - Reality check: would Brexit cost every household £850?

    The UK leaving the European Union would knock £850 off the average UK household's income, according to a report from the Centre for Economic Performance (CEP) at the London School of Economics. And that's its conclusion taking an ''optimistic'' view. The pessimistic conclusion from the report is £1,700 per household.

    This article was published online by BBC News on March 18, 2016
    Link to article here

    Related publications
    The consequences of Brexit for UK trade and living standards, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis No.02, March 2016
    Download the accompanying Technical Paper here
    Life after Brexit: What are the UK's options outside the European Union?, Swati Dhingra and Thomas Sampson, CEP Brexit Analysis No.01, February 2016
    See the complete CEP Brexit Analysis Series here

    Related links
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    Hanwei Huang webpage
    John Van Reenen webpage
    Thomas Sampson webpage
    Trade Programme webpage
    Growth Programme webpage

    News Posted: 18/03/2016      [Back to the Top]

    The i Paper

    Six things you need to know about George Osborne's Budget

    ''The fiscal target should be on balancing the books on current spending over the business cycle - just as it was when the Office for Budget Responsibility was first set up in 2010. Otherwise there will always be too much pressure to under-fund public investment,'' said John Van Reenen of the London School of Economics.

    This article was published by The i Paper on March 17, 2016
    Link to article here

    Related links
    John Van Reenen webpage
    Growth Programme webpage


    News Posted: 17/03/2016      [Back to the Top]

    LSE British Politics and Policy blog

    Budget 2016: Osborne rolls with the blows, but the politics tramples good economics

    John Van Reenen, Director of the Centre for Economic Performance, gives his reaction to the 2016 Budget. The austerity approach continues, despite it having little economic sense. Fuel duty is frozen as a sweetener to his backbenchers. And in terms of the future, Osborne may have spent time outlining the global uncertainties on the long-term economic horizon, but it's the closer possibility of Brexit which has the potential to be the biggest disruption to his plans.

    This article was posted by the LSE British Politics and Policy blog on March 16, 2016
    Link to article here

    Related links
    John Van Reenen webpage
    Growth Programme webpage


    News Posted: 16/03/2016      [Back to the Top]

    De Tijd (Belgium)

    'We zijn verplicht vluchtelingen te helpen ondanks kosten'

    'We are required to help refugees despite costs'
    De opvang van de vluchtelingen zal de Europese welvaartsstaten niet onder druk zetten. Dat stellen twee topprofessoren in het onderzoek naar migratie, Klaus Zimmermann en Alan Manning, in een lezing in Antwerpen.
    The refugees will not put pressure on the European welfare States. Two top-level professors in research into migration, Klaus Zimmermann and Alan Manning, in a lecture in Antwerp. The professors advocate legal access to the EU.

    This article was published online by De Tijd (Belgium)
    Link to article here

    Related links
    Alan Manning webpage
    Community Programme webpage


    News Posted: 15/03/2016      [Back to the Top]

    MIT News

    Power play: study shows how more RandD funding can accelerate the world energy revolution

    Scholars who have read the paper say it makes a valuable contribution to the field. The model ''is stylized but rich enough, I think, to capture some of the main features of the sector,'' explains John Van Reenan, an economist at the London School of Economics. As such, the model uncovers ''some of the complexities of the dynamics in an elegant way,'' he states.

    This article was published by MIT News on March 15, 2016
    Link to article here

    Related links
    John Van Reenen webpage
    Growth Programme webpage


    News Posted: 15/03/2016      [Back to the Top]

    BandFT Business and Financial Times

    President Obama to have his say on Brexit

    Looking into FDI (foreign direct investment), the London School of Economics' Centre for Economic Performance determined that if the UK could reach favorable free trade agreements with the EU after a Brexit, it will lose FDI equal to 2.2 percent of gross domestic product. However, if such agreements are not reached, that same loss could be closer to 6.3-9.5 percent, which would be disastrous.

    This article was published by B&FT Business & Financial Times on March 15, 2016
    Link to article here

    Related article
    FXCM
    What would a 'Brexit' mean for the UK and Europe?
    Aside from being concerned about trade, many are worried about how a Brexit would affect foreign investment in the nation's businesses. The London School of Economics' Centre for Economic Performance has done some analysis in this area, estimating that if Great Britain manages to establish a free trade agreement with the EU after leaving the partnership, it will lose foreign direct investment equal to 2.2% of gross domestic product.
    Link to article here

    Related publications
    Brexit of Fixit? The Trade and Welfare Effects of Leaving the European Union, G. I. P. Ottaviano, Joao Paulo Pessoa, Thomas Sampson and John Van Reenen, CEP Policy Analysis No 16, May 2014

    Related links
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 15/03/2016      [Back to the Top]

    Perspectiva (Guatemala)

    Por qué los salarios son tan bajos?

    And it is a global problem: wage growth has been weak throughout the world for almost a decade. ''In the last seven to eight years, wage growth has been very disappointing in the world,'' says John Van Reenen, director of the Center for economic performance of the London School of Economics (LSE).

    This article was published online by Perspectiva (Guatemala) on March 15, 2016
    Link to article here

    Related links
    John Van Reenen webpage
    Growth Programme webpage


    News Posted: 15/03/2016      [Back to the Top]

    BBC Radio 4

    News

    John Van Reenen discusses why wages aren't growing.

    The interview was broadcast by BBC Radio 4 News on March 13, 2016
    Link to interview here

    Also ran on
    BBC World Service
    Linda Yueh interview
    John Van Reenen discusses why wages aren't growing.

    Related links
    John Van Reenen webpage
    Growth Programme webpage


    News Posted: 13/03/2016      [Back to the Top]

    Opinion Online

    Por que los salarios son tan bajos?

    ''In the last seven to eight years, wage growth has been very disappointing in the world,'' says John Van Reenen, director of the Center for Economic Performance of the London School of Economics (LSE).

    This article was published online by Opinion Online on March 12, 2016
    Link to article here

    Also in
    La Raza
    Rumbo

    Related links
    John Van Reenen webpage
    Growth Programme webpage


    News Posted: 12/03/2016      [Back to the Top]

    Global Finance Online

    Global Finance Magazine - Can Boosting Business Productivity Unleash New Gains?

    According to studies conducted by John Van Reenen, director at the Centre for Economic Performance at the London School of Economics and Political Science, differences in productivity between other countries and the US can be explained, on average, by a better quality of management. ''I grew up in Britain in the 1970s, and there was British Leyland, a state-run company with terrible management practices,'' says Van Reenen. ''In the 1980s, Japanese companies came in setting up new car factories in Britain, famously Nissan in Sunderland, and people did not believe at the time they could have done something different. But they did, bringing a different management style.''

    This article was published by Global Finance Online on March 11, 2016
    Link to article here

    Related Publications
    'The New Empirical Economics of Management', Nicholas Bloom, Renata Lemos, Raffaella Sadun, Daniela Scur and John Van Reenen, Centre for Economic Performance Occasional Paper No.41, April 2014

    Related Links
    Nick Bloom webpage
    Renata Lemos webpage
    Raffaella Sadun webpage
    Daniela Scur webpage
    John Van Reenen webpage
    Growth Programme webpage
    Management Practices and Organisational Structure research webpage


    News Posted: 11/03/2016      [Back to the Top]

    LSE Business Review blog

    Tax relief for Research and Development is a rare example of an innovation policy that actually works

    UK business R&D would be 10 percent lower in the absence of tax breaks, write Kieu-Trang Nguyen and John Van Reenen.

    This article was published by the LSE Business Review blog on March 11, 2016
    Link to article here

    Related publications
    'Do Tax Incentives for Research Increase Firm Innovation? An RD Design for R&D', Antoine Dechezleprêtre, Elias Einiö, Ralf Martin, Kieu-Trang Nguyen and John Van Reenen, Centre for Economic Performance Discussion Paper No.1413, March 2016

    Related links
    John Van Reenen webpage
    Growth Programme webpage


    News Posted: 11/03/2016      [Back to the Top]

    Health Affairs Blog

    The Consequences Of Gobeille v. Liberty Mutual For Health Care Cost Control

    Recently, Zack Cooper, Stuart Craig, Martin Gaynor, and John Van Reenen released a landmark study on national private health care price variation that was completely at odds with Medicare data on health care spending.

    This article was published by the Health Affairs Blog on March 10, 2016
    Link to article here

    Related publications
    The Price Ain't Right? Hospital Prices and Health Spending on the Privately Insured, Zack Cooper, Stuart Craig, Martin Gaynor and John Van Reenen, Centre for Economic Performance Discussion Paper No.1395, December 2015

    Related links
    Zack Cooper webpage
    John Van Reenen webpage
    Growth Programme webpage


    News Posted: 10/03/2016      [Back to the Top]

    BBC News Online

    Why aren't salaries growing more?

    John Van Reenen is director of the Centre for Economic Performance at the London School of Economics.
    ''Over the last seven or eight years, wage growth has been very disappointing all over the world. After the Second World War, times were really good. ''Ever since the global financial crisis wage growth, which was doing pretty well over the past 50-60 years - something like 2% a year - fell a lot in richer countries and also fell or stagnated in poorer countries.''

    This article was published online by BBC News on March 9, 2016
    Link to article here

    Related Links
    John Van Reenen webpage
    Growth Programme webpage


    News Posted: 09/03/2016      [Back to the Top]

    BBC World Service

    John Van Reenen interviewed

    John Van Reenen discusses a decade of weak wage growth worldwide and its consequences

    This interview was broadcast by BBC World News on March 8, 2016
    Link to interview here

    Also on
    WUWM-FM , WUNC-FM, WBFO-FM, NPR/National Public Radio

    Related Links
    John Van Reenen webpage
    Growth Programme webpage


    News Posted: 08/03/2016      [Back to the Top]

    BBC World Service Radio - The Inquiry

    Why are wages so low?

    John Van Reenen interviewed, giving his expert opinion on falling income levels.

    This interview was broadcast by the BBC World Service programme 'The Inquiry' on March 8, 2016
    Link to interview here

    Related links
    John Van Reenen webpage
    Growth Programme webpage


    News Posted: 08/03/2016      [Back to the Top]

    U.S. News and World Report

    Arguments and allegations are flying as Britons grapple with how to vote in a June 23 referendum on whether to stay in the European Union or walk away

    The London School of Economics' Center for Economic Policy[sic] has calculated that, even if trade barriers with other European countries do not significantly increase, per capita income in Britain will fall by between 1.1 percent and 3.1 percent after a Brexit. ''The possibility of trading more with the rest of the world can't offset the loss of trade with the EU,'' said the center's Thomas Sampson.

    This article was published by U.S. News & World Report on March 5, 2016
    Link to article here

    Related publications
    Life after Brexit: What are the UK's options outside the European Union?, Swati Dhingra and Thomas Sampson, CEP Brexit Analysis No.01, February 2016
    Should We Stay or Should We Go? The economic consequences of leaving the EU, Swati Dhingra, Gianmarco I. P. Ottaviano and Thomas Sampson, CEP 2015 Election Analysis No.22, March 2015

    Related links
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    Trade Programme webpage


    News Posted: 05/03/2016      [Back to the Top]

    The Economist

    Transport infrastructure: Life in the slow lane

    Sometimes there is no option but to build big. On many London Underground lines—which already run as many as 30 trains an hour—it is hard to make incremental improvements; the only sensible way to create new capacity is to build a new line, as the government is doing now with Crossrail, an east-to-west London link. Still, it has mostly ignored the recommendations of the Eddington review, says John Van Reenen of the Centre for Economic Performance at the London School of Economics, instead focusing its energy on larger, shinier projects.

    This article appeared in the Economist on 5 March 2016. Link to article

    Related Links
    John Van Reenen webpage
    Growth Programme webpage
    News Posted: 05/03/2016      [Back to the Top]

    BusinessAdvice.co.uk

    Small UK firms not investing in management training despite poor productivity

    Management is thought to play a key role in explaining this gap. In 2012, the results of a decade-long worldwide study carried out by academics at Stanford, Harvard and the LSE found the UK had more badly managed firms than better-performing competitors - and that good management skills were important drivers of high productivity.

    This article was published online by BusinessAdvice.co.uk on March 3, 2016
    Link to article here

    Related Publications
    The New Empirical Economics of Management, Nicholas Bloom, Renata Lemos, Raffaella Sadun, Daniela Scur and John Van Reenen, Centre for Economic Performance Occasional Paper No.41, April 2014

    Related Links
    Nicholas Bloom webpage
    Renata Lemos webpage
    Raffaella Sadun webpage
    Daniela Scur webpage
    John Van Reenen webpage
    Growth Programme webpage


    News Posted: 03/03/2016      [Back to the Top]

    LSE News and Media

    Equity crowdfunding: a new model for financing entrepreneurship

    According to CEP's researchers writing in the latest issue of CentrePiece, its departmental magazine, crowdfunding ''serves as a robust source of alternative entrepreneurial finance which has operated in a stable and predictable manner'' in its infancy.

    This press release was published online by LSE's News and Media on February 18, 2016
    Link to the release here

    See also:
    Equity Crowdfunding News
    Equity crowdfunding: a new model for financing entrepreneurship - 02-2016 - News archive - News - News and Media - Home
    lse.ac.uk - Researchers from LSE.s Centre for Economic Performance (CEP) have demonstrated the benefits of equity crowdfunding as a robust alternative for investors and entrepreneurs. CEP has analysed invest ...
    Link to article here

    Related publications
    Equity crowdfunding: a new model for financing entrepreneurship?, Saul Estrin and Susanna Khavul. Article in CentrePiece Volume 20, Issue 3, Winter 2015/16

    Related links
    Saul Estrin webpage
    Susanna Khavul webpage
    Growth Programme webpage


    News Posted: 18/02/2016      [Back to the Top]

    freshbusinessthinking.com

    UK productivity still lagging behind G7

    The UK is still some way off solving the productivity puzzle after final estimates for 2014 from the Office for National Statistics (ONS) showed that productivity was 18 percentage points lower than the average for the rest of the G7. The figures showed that the UK's productivity gap - the difference between in output per worker between two countries - is roughly 14%, twice that of other nations in the G7. Last year, the Centre for Economic Performance said UK workers could have Fridays off if they worked as productively as other G7 countries.

    This article was published online by freshbusinessthinking.com on February 18, 2016
    Link to article here

    Related publications
    Investing for Prosperity: Skills, Infrastructure and Innovation, Report of the LSE Growth Commission, January 2013

    Related links
    Philippe Aghion webpage
    John Van Reenen webpage
    Growth Programme webpage
    Management Practices and Organisational Structures Research webpage


    News Posted: 18/02/2016      [Back to the Top]

    PS News Online

    Promoted to manager? Here are three things you should never forget