CEP LSE RSS Contact Us YouTube Facebook Twitter

News and Press

News Archive 2011

The Daily Telegraph

Skill shortages 'deter hirers'

A survey by the British Chambers of Commerce reveals that the majority of firms eager to create new jobs are "frustrated" by skills gaps and onerous regulation. A separate study by the LSE has warned that apprenticeship funding is "dysfunctional"

This article appeared in The Daily Telegraph on 14 December 2011 Link to article

Related publications
Apprenticeship Policy in England: Increasing Skills versus Boosting Young People's Job Prospects', Hilary Steedman, CEP Policy Analysis PA013, November 2011.
'Young People Without Qualifications: How 'Headline Numbers' Shape Policy and Aspiration', Hilary Steedman, article in CentrePiece Volume 16, Issue 2, October 2011

Related Links
Hilary Steedman webpage


News Posted: 14/12/2011      [Back to the Top]

Business Week

Cameron Can't Cut Britain Adrift From EU

Prime Minister David Cameron's decision to distance Britain from European efforts to save the euro isn't likely to make the U.K. more independent of the bloc. "Politically the U.K. has lost power and credibility, and its isolation weakens its future position almost certainly" said Joan Costa i Font, professor of political economy at the London School of Economics.

This article appeared on Bloomberg Businessweek on 14 December 2011. Link to article

Related Links
Joan Costa-i-Font webpage


News Posted: 14/12/2011      [Back to the Top]

Walesbusiness.org

Hearts + minds = more innovation

The research aims to develop a much clearer picture of what business leaders and top management teams can do to develop their organizations and become more innovative. A large-scale research project conducted by McKinsey & the London School of Economics, in 2007, suggested that the top 25% of manufacturers in Europe regularly adopted and implement contemporary management practices and processes.

Related publications
'Management Practice and Productivity: Why They Matter', Nick Bloom, Stephen Dorgan, John Dowdy and John Van Reenen, Summary Report, July 2007

Related links

Nick Bloom webpage
John Van Reenen webpage
Management Practises Project Materials
Productivity and Innovation Programme webpage



News Posted: 13/12/2011      [Back to the Top]

The New Nation

Cycling industry gives UK £3bn boost

Cycling generates nearly £3bn a year for the UK economy, a report by the London School of Economics has found. The figure takes into account factors such as bicycle manufacturing, retail and cycle-related employment....

This article appeared in The New Nation on 5th December 2011 link to article

Related publications
The British Cycling Economy: Gross Cycling Product Report by Alexander Grous, for Sky and British Cycling

Related links
Alexander Grous webpage
Productivity and Innovation Programme webpage

News Posted: 05/12/2011      [Back to the Top]

Marketplace

Super committee fails, but US investment still best option

Tim Leunig of the London School of Economics says the U.S. is simply the best of a bad lot. The American economy is growing. It's certainly growing much faster than almost everywhere in Europe. So America has the great advantage that so long as everybody else messes up, it's still the best country you can put your money in.

This article appeared in Marketplace on the 5th December 2011 link to article

Related links
Tim Leunig webpage


News Posted: 05/12/2011      [Back to the Top]

Marketplace

Eurozone leaders meet in France

Professor Albrecht Ritschl of the London School of Economics says the Germans face a stark choice.
Albrecht Ritschl:They will indeed have to be the decision between accepting a probably softer eurozone, or thinking seriously about going it alone.

This article appeared in Marketplace on the 5th December 2011 link to article

Related links
Albrecht Ritschl webpage
Macro Programme webpage

News Posted: 05/12/2011      [Back to the Top]

Marketplace

Europe weighs greater fiscal consolidation

Of course, if the eurozone turned itself into a real fiscal union with all the member states guaranteeing each other's debt, that would stop the crisis in its tracks. But Tim Leunig of the London School of Economics says that's not going to happen.
Tim Leunig: Germany is not going to want to give huge amounts other people who it sees as feckless. But equally, other people are not going to want to be bossed about by Germany and told what they can and cannot spend their money on. This article was published in Marketplace on Sunday December 4, 2011. Link to article

Link to BBC News, Foreign student visa review call by UK advisory body 4th December 2009

Related Links

Tim Leunig webpage
Globalisation Programme webpage



News Posted: 04/12/2011      [Back to the Top]

Marketplace

German bonds auction flop raises alarm

Albrecht Ritschl: Now it turns out that the whole debt burden of southern Europe combined is quite a bit too big to be shouldered by the Germans.

This article appeared in Marketplace on December 3, 2011
Link to article

Related Links
Albrecht Ritschl webpage
Macro Programme webpage

News Posted: 03/12/2011      [Back to the Top]

Radio Free Europe

What if the Eurozone collapses?

Many experts believe that if the eurozone were to break apart it would be because richer members leave it rather than continue to try to bail out poorer ones. In fact, there are already some signs that the richer countries -- the so-called "core" or northern countries of the zone -- are already considering that option."They've discussed having a treaty amongst a smaller number of countries that would have a lot more fiscal coordination and a centralized treasury even, perhaps a eurobond at the end of it all, and I think that's the direction in which they are going to move," says Peter Boone, a senior visiting fellow at the London School of Economics.

This article appeared on Radio Free Europe on Friday December 2, 2011
Link to article.

Related links
Peter Boone webpage
Effective Intervention Programme webpage



News Posted: 02/12/2011      [Back to the Top]

DCSF.gov.uk

Michael Gove speaks to the Schools Network

Speech given by Michael Gove on December 1, 2011 in Birmingham
A few months ago, academics at the London School of Economics published a landmark assessment of the academies programme. They found three things. First, that 'Academy conversion generates... a significant improvement in pupil performance.' Second, that this improvement is not the result of academies scooping up middle-class pupils from nearby schools: the fact that more middle-class parents want to send their children to their local academy is a consequence of the school's success, not a cause. And thirdly, beyond raising standards for their own pupils, academies also tend to raise pupil performance in neighbouring schools.

This article appeared on the UK Department of Education website on Friday December 2, 2011
Link to article.

Related publications
"Changing School Autonomy: Academy Schools and their Introduction to England Education" Stephen Machin and James Vernoit, Centre for the Economics of Education Discussion Paper No.123, April 2011

Related links
Stephen Machin webpage
James Vernoit webpage
Centre for the Economics of Education webpage
Education and Skills Programme webpage



News Posted: 02/12/2011      [Back to the Top]

La Opinion de Murcia

Los deberes urgentes de Rajoy

"Hace falta urgentemente una reestructuración del sistema financiero que elimine la carga de la deuda inmobiliaria del pasado", sentencia Luis Garicano, profesor de la London School of Economics y miembro del llamado "grupo de los Cien" (economistas vinculados a la Fundación Fedea). ¿Cómo puede plantear el Gobierno de Rajoy esa limpieza? ¿Con qué coste para el erario público, tan escuálido en recursos y tan vigilado por los acreedores (inversores)? Garicano apuesta por la vía de crear un "banco malo".

This article appeared in La Opinion de Murcia on Friday December 2, 2011
Link to article.

Related links
Luis Garicano webpage
Productivity and Innovation Programme webpage



News Posted: 02/12/2011      [Back to the Top]

City AM

Demand for new laws to defeat unions

Demand for new laws to defeat unions: Prof Alan Manning from the Centre for Economic Performance at the LSE, said: "There are many areas of conflict between the public sector and government. They are unlikely to be resolved very soon."

This article appeared in City AM on December 1, 2011
Link to article.

Related links
Alan Manning webpage
Labour Markets Programme webpage



News Posted: 02/12/2011      [Back to the Top]

BBC Radio 2

Jeremy Vine show

Richard Layard was interviewd by Jeremy Vine about his research findings on Happiness and Wellbeing

This show was broadcast on BBC Radio 2 on December 2, 2011
Link to programme.

Related Links
Richard Layard webpage
Wellbeing Programme webpage
Happiness Research webpage

News Posted: 02/12/2011      [Back to the Top]

PrintWeek

Family-run firms are Britain's 'weak economic link

Professor John Van Reenen, director of the LSE’s Centre for Economic Performance, told The Telegraph that management quality was "highly linked" to productivity and profits, and that second- and third-generation firms typically had weaker management than peers run by hired hands.

This article appeared in the PrintWeek on December 1, 2011
Link to article

Related Publications

Related publications
Nick Bloom and John Van Reenen (2007) ‘Measuring and Explaining Management Practices across Firms and Countries’, Quarterly Journal of Economics 122(4): 1351-1408

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
Productivity and Innovation Research Webpage
John Van Reenen webpage



News Posted: 01/12/2011      [Back to the Top]

The Daily Telegraph

Family-run firms 'holding back Britain's economy'

LSE academics surveyed 10,000 companies for the Business Department. Family firms should heed LSE's findings: many of our most successful private companies are family-run and they will be justifiably indignant at the London School of Economics' finding that ho hum management in family firms is holding the economy back.

This article appeared in the The Daily Telegraph on December 1, 2011
Link to article

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
Productivity and Innovation Research Webpage
John Van Reenen webpage
Nick Bloom webpage



News Posted: 01/12/2011      [Back to the Top]

The Guardian

Germany's hardline attitude is making the situation in Europe worse

Germany's hardline attitude is making the situation in Europe worse
Economics professor at the LSE, Albrecht Ritschl, comments on Germany's reaction to the worsening euro crisis.

This article appeared in The Guardian on 8 November 2011 link to article

Related links

Albrecht Ritschl webpage
Macro Programme webpage



News Posted: 08/11/2011      [Back to the Top]

City AM

Pay may be earned

Research carried out by Brian Bell and John Van Reenen at the LSE has found that the performance of firms could explain between one-quarter and one-half of the rise in the gap between the pay of workers and chief executives.

This article appeared in City AM on 8 November 2011 link to article

Related publications

'Firm Performance and Wages: Evidence from Across the Corporate Hierarchy’, Brian Bell and John Van Reenen, Centre for Economic Performance Discussion Paper No.1088, November 2011

Related links

Brian Bell webpage
John Van Reenen webpage
Productivity and Innovation Programme webpage
ESRC Festival of Social Science Event:  ‘Top Pay in the UK’ on Friday 4 November 2011. Event Info and papers



News Posted: 08/11/2011      [Back to the Top]

ISC Daily News Summary

University students increasingly seeking second degrees to compete for top jobs

One degree is no longer enough to secure the best-paid jobs, according to research. Growing numbers of university students are staying on after their bachelors’ degrees to complete postgraduate masters and doctorate courses, said the study by the Centre for Economic Performance at the London School of Economics. Employers are increasingly seeking more highly qualified staff and typically pay workers with postgraduate courses 13 per cent more than those with first degrees only. Workers with degrees have traditionally been paid better than those without, but the research from Prof Stephen Machin of University College London and Joanne Lindley from the University of Surrey found a significant gap opening between employees with one degree and those with higher qualifications.

This article appeared in ISC Daily News Summary on 25 October 2011 link to article

Related publications

The Boom in Postgraduate Education and its impact on Wage Inequality’, Joanne Lindley and Stephen Machin. Article in CentrePiece Volume 16, Issue 2, Autumn 2011

Related links

Stephen Machin webpage
Centre for the Economics of Education website
Education and Skills Programme webpage



News Posted: 26/10/2011      [Back to the Top]

The Telegraph

University Students increasingly seeking second degrees to compete for top jobs

Text

News Posted: 26/10/2011      [Back to the Top]

Evidence on NHS competition

Response to Allyson Pollock et al.

Recent evidence from the LSE has been widely cited as showing positive effects from choice and competition between hospitals in the NHS. A recent Lancet piece was highly critical of the LSE research (and a number of other papers that used a similar approach).

Read the authors response to these criticisms here

News Posted: 20/10/2011      [Back to the Top]

The Economist

Honey, we shrunk the hospitals

A survey by the LSE, McKinsey and American health academics has found that larger hospitals enjoy superior outcomes in key areas and tended to be better managed.

This article appeared in The Economist on October 1, 2011
Link to article

Related Publications
Management in Healthcare: Why Good Practice Really Matters, Stephen Dorgan, Dennis Layton, Nicholas Bloom, Rebecca Homkes, Raffaella Sadun and John Van Reenen. Joint McKinsey & Co, CEP and LSE Report
‘The Impact of Competition on Management Quality: Evidence from Public Hospitals’, Nicholas Bloom, Carol Propper, Stephan Seiler and John Van Reenen, Centre for Economic Performance Discussion Paper No. 983, May 2010

Related Links
Nicholas Bloom webpage
Rebecca Homkes webpage
Raffaella Sadun webpage
John Van Reenen webpage
Productivity and Innovation Programme webpage

News Posted: 01/10/2011      [Back to the Top]

LSE online

A safer way to save the eurozone proposed by European economists

A system of 'European Safe Bonds' run by a continent-wide debt agency could save the eurozone without the need for fiscal union argue two leading analysts from the London School of Economics and Political Science. Professors Luis Garicano and Dimitri Vayanos are among a group of academics from the Euro-nomics group who have today set out their proposal for the bonds which would be stable enough to survive even a debt default by one or more European countries.

This article appeared on LSE online on September 30, 2011
Link to article

Related Links
Luis Garicano webpage
Productivity and Innovation Programme webpage

News Posted: 30/09/2011      [Back to the Top]

Euromoney

China won't bail out Greece

“[As opposed to supporting Greek investment], supporting multinational investment helps China to develop global firms as well as diversity their capital outflow, predominantly away from government debt such as US Treasuries”, says Linda Yueh, a fellow of economics at the University of Oxford.

This article appeared in Euromoney on September 30, 2011
Link to article

Related Links
Linda Yueh webpage
Globalisation Programme webpage

News Posted: 30/09/2011      [Back to the Top]

A safer way to save the eurozone

Proposal by CEP Researcher Luis Garicano to save the Euro

A system of 'European Safe Bonds' run by a continent-wide debt agency could save the eurozone without the need for fiscal union argue two leading analysts from the London School of Economics and Political Science.

Professors Luis Garicano and Dimitri Vayanos are among a group of academics from the Euro-nomics group who have today set out their proposal for the bonds which would be stable enough to survive even a debt default by one or more European countries.

The group's open letter is published in today's (28 September 2011) Wall Street Journal and in El Pais in Spain.

Read more about the proposal on the LSE website

Full text of the letter and more details at the Euro-nomics site

Related links
Luis Garicano webpage
Productivity and Innovation Programme webpage



News Posted: 28/09/2011      [Back to the Top]

Irish Times

Only confidence evident in markets is that things will definitely get worse

According to Stanford economics professor Nicholas Bloom, a US recession is almost unavoidable. He studied 16 previous “uncertainty shocks” (events like the Cuban missile crisis and the 9/11 attacks) and concluded that “large short-run recessions” invariably result. “When people are uncertain about the future, they wait and do nothing,” Bloom cautioned.

This article appeared in the Irish Times on August 12, 2011
Link to article

Related Publications
In brief: The recession will be over sooner than you think, in CentrePiece 13(3) Winter 2008/9, Nick Bloom and Max Floetotto
‘Uncertainty and the Dynamics of R&D’, Nicholas Bloom, Centre for Economic Performance Discussion Paper No.792, May 2007
‘Uncertainty and Investment Dynamics’, Nicholas Bloom, Stephen Bond and John Van Reenen, Centre for Economic Performance Discussion Paper No.739, August 2006
‘The Impact of Uncertainty Shocks: Firm Level Estimation and a 9/11 Simulation’, Nicholas Bloom, Centre for Economic Performance Discussion Paper No.718, March 2006

Related Links
Nicholas Bloom webpage
Productivity and Innovation Programme webpage

News Posted: 12/08/2011      [Back to the Top]

Sound Money

Eurozone debt crisis is back with a vengeance

Tim Leunig: The question is: do Germans want to guarantee Greek, Italian and Spanish debt? I don't see any evidence of that.

This article appeared in Sound Money on August 3, 2011
Link to article

Related Links
Tim Leunig webpage
Globalisation Programme webpage

News Posted: 03/08/2011      [Back to the Top]

ABC de Sevilla

la politica como agravante

…de la primera semana de octubre», indicó Garicano en declaraciones a Ep. A juicio del profesor de la London School of Economics (LSE) y miembro de Fedea, "la situación española es extremadamente preocupante..."

This article appeared in ABC de Sevilla on August 3, 2011
Link to article

Related Links
Luis Garicano webpage
Productivity and Innovation Programme webpage

Also in
El Confidencial
Resistirá esto cuatro meses? La crisis de deuda vuelve a dejar en evidencia a Zapatero
…cuatro meses la interinidad política de un Ejecutivo ya amortizado? Para el economista Luis Garicano, profesor de la London School of Economics y director de la Cátedra Fedea-McKinsey, "las elecciones deberían...
Granada Digital
Expertos creen que las elecciones llegan tarde y prevén que la prima de riesgo siga en niveles récord



News Posted: 03/08/2011      [Back to the Top]

Ideal Digital

Un alza histórico para la prima de riesgo

…es "muy preocupante y peligrosa" porque se no está acabando el tiempo. Para Luis Garicano, profesor de la London School of Economics, la solución pasaría porque el BCE empezara a comprar deuda pública española...

This article appeared in Ideal Digital on August 2, 2011
Link to article

Related Links
Luis Garicano webpage
Productivity and Innovation Programme webpage

Also in
El Comercio Digial
La prima de riesgo se modera tras supercar lost 400 puntos
Finanzas.com
El riesgo soberano de España tumba un 2% al Ibex y enciende todas las alarmas



News Posted: 02/08/2011      [Back to the Top]

CNN

Opinion: Debt deal no cause for celebration

Article by Ethan Ilzetzki on the US debt deal. He says raising the debt ceiling should have been a "no-brainer".

This article appeared on CNN on August 1, 2011
Link to article

Related Links
Ethan Ilzetzki webpage
Macro Programme webpage

Also in
Tuesday 2 August
CNNExpansion.com (Mexico)
Opinion: El acuerdo sobra la deuda no es de celebrar
Article by Ethan Ilzetzki
…es conferencista y profesor adjunto del Departamento de Economía y Asociado al Centro de Presentaciones Económicas de la London School of Economics. Se ha desempeñado en posiciones de políticas e investigación...


News Posted: 01/08/2011      [Back to the Top]

British Medical Journal

Competition in healthcare can help to save lives, study concludes

Competition among hospitals in England led to a 7% fall in the number of deaths from acute myocardial infarction over three years, saving around 900 lives, a new study claims. Zach [sic] Cooper, a health economist working at the London School of Economics and one of the study’s authors, said, “Our study suggests that creating incentives for hospitals by introducing competition alongside providing patients with publicly available information can improve patient outcomes and save lives.

This article appeared in the British Medical Journal, August 1, 2011
Link to article

Related Publications
Does Hospital Competition Improve Efficiency? An Analysis of the Recent Market-Based Reforms to the English NHS, Zack Cooper, Steve Gibbons, Simon Jones and Alistair McGuire, The Economic Journal, 121, August 2011.

Related Links
Zack Cooper webpage
Productivity and Innovation Programme webpage
Further information on health economics and NHS policy
Summary of research papers on NHS reform

News Posted: 01/08/2011      [Back to the Top]

Financial Times

Staff at family businesses 'work longer hours'

Research has suggested that family-owned companies have the UK's most satisfied workforces. John van Reenen of the LSE recently accused family businesses of inefficiency due to poor management quality.

This article appeared in the Financial Times on July 19, 2011
Link to article

Related Publications
Are family-friendly workplace practices a valuable firm resource?, Nicholas Bloom, Tobias Kretschmer, and John Van Reenen. (April 2011). Strategic Management Journal, 32(4), pp343-367.
'Measuring and Explaining Management Practices Across Firms and Countries', Nicholas Bloom, Tobias Kretschmer and John Van Reenen, Centre for Economic Performance Discussion Paper No.716, March 2006

Related Links
Nicholas Bloom webpage
Tobias Kretschmer webpage
John Van Reenen webpage
Productivity and Innovation Programme webpage
Management Practices and Organisational Structure research webpage

News Posted: 19/07/2011      [Back to the Top]

Vox

Secular rise in economically valuable personality traits

Markus Jokela, Tuomas Pekkarinen, Matti Sarvimäki, Marko Terviö, Roope Uusitalo

There is strong empirical evidence of a secular rise in intelligence, but a lack of consistently measured data has hampered the identification of a similar increase in non-cognitive skills. Based on an analysis of half a million Finnish males, this column presents evidence that a long-term increase in scores for traits such as self-confidence, sociability, and leadership motivation has taken place. Just as with cognitive abilities, higher test scores for personality traits predict higher earnings.



News Posted: 11/07/2011      [Back to the Top]

NHS REFORMS

CEP Research Evidence and Policy Recommendations

CEP has produced rigorous research evidence on the impact of hospital competition, pay regulation and management performance on quality, productivity and equity in the NHS. Policy needs to be informed by evidence. Below is a summary of some of the key research by CEP staff, which can inform the current NHS reform debate and should influence policy development in the NHS. CEP economists are available for interviews and discussions with the media.

Summary of evidence (see summaries of key research below):
  • NHS hospital competition can improve quality, lower death rates and improve productivity.

  • Hospital competition can improve hospital management.

  • The Labour government made huge progress in improving quality, reducing waiting times and raising patient satisfaction between 2000 and 2009.

  • Pay regulation has led to higher death rates across England.
Policy Implications:
  • Andrew Lansley's proposals had five flaws:
    1. The pace was too fast.
    2. Structural changes cost money; they don't save it.
    3. They introduced price competition, when they should have preserved strictly quality competition.
    4. They ignored the value of good management.
    5. They placed too much power in the hands of untested GP commissioners.

  • The NHS requires more hospital competition, not less to improve quality and productivity (See: In brief: Competition in the public sector: good for the goose, good for the gander?, Zack Cooper, June 2011, CentrePiece, Volume 16 Issue 1, Summer 2011);

  • The NHS needs to focus on creating financial incentives for hospitals and commissioners to raise performance.

  • The NHS needs to measure performance more aggressively and benchmark hospitals' quality.
KEY CENTRE FOR ECONOMIC PERFORMANCE CONTACTS ON HEALTH ECONOMICS AND NHS POLICY:

Dr. Zack Cooper
Tel : 077 258 98597 ; email: z.cooper@lse.ac.uk
Zack Cooper's Webpage

Professor John Van Reenen
email: j.vanreenen@lse.ac.uk
John Van Reenen's Webpage

Further information
See summaries of key CEP research on NHS Policy

Related Links:
In brief: Competition in the public sector: good for the goose, good for the gander?, June 2011, CentrePiece, Volume 16 Issue 1, Summer 2011
The NHS White Paper: Evolution or Revolution, Zack Cooper
Progress Made in the NHS from 2000-2010, Zack Cooper and Alistair McGuire



News Posted: 13/06/2011      [Back to the Top]

The Times

What is going on at the top?

LSE and Harvard Business School researchers have conducted a survey to find out what chief executives do all day. 60pc of time was taken up with meetings.

This article appeared in The Times on June 2, 2011
No link available to article.

Related Links
Raffaella Sadun webpage
Raffaella Sadun CEP publications webpage
Productivity and Innovation Programme webpage

News Posted: 02/06/2011      [Back to the Top]

Bloomberg - BusinessWeek

Spanish ire against bankers spills over in city center protests

Many Spaniards, asked by the government to sacrifice living standards and years in retirement to help fix public finances, have been incensed by Spain bailing out savings banks that were crippled by bad loans linked to real estate, said Luis Garicano, a professor at the London School of Economics.

This article appeared in BusinessWeek on June 1, 2011
Link to article

Related Links
Luis Garicano webpage
Productivity and Innovation Programme webpage

News Posted: 01/06/2011      [Back to the Top]

Canadian Business

It's 1 o'clock: do you know where your CEO is?

If your company’s CEO is attending too many private lunches and golf games, he could be wasting company resources. But he also could be making valuable business connections. Determining which scenario is more likely was the goal of a group of professors at the London School of Economics and Political Science, the European University Institute and the Harvard business school.

This article appeared in Canadian Business on May 30, 2011
Link to article

Related Links
Raffaella Sadun webpage
Raffaella Sadun CEP publications webpage
Productivity and Innovation Programme webpage

News Posted: 30/05/2011      [Back to the Top]

The Guardian

Academy schools mean more competition for schools – but must dog eat dog?

The move to convert schools to academy status is underpinned by research, most recently a paper by Stephen Machin and James Vernoit of the London School of Economics, which found Labour's academies not only improved their own performance, but also raised standards in neighbouring schools.

The study found this beneficial effect happened even though high-achieving pupils started leaving neighbouring schools to attend academies.

They attribute this effect to "increased choice [and] competition and also ... the sharing of the academy school facilities and expertise with the wider community".

This article appeared in The Guardian on 23 May 2011 - link to article

Related publications:
Changing School Autonomy: Academy Schools and their Introduction to England's Education, Stephen Machin and James Vernoit, April 2011, Paper No' CEEDP0123

Academy schools: who benefits? Stephen Machin and James Vernoit, November 2010, CentrePiece Magazine : Paper No' CEPCP325

Related links:
Steve Machin's webpage
James Vernoit's webpage
Education and Skills Programme webpage



News Posted: 23/05/2011      [Back to the Top]

New Book: Combatting Unemployment

IZA Prize in Labor Economics - by Richard Layard and Stephen J. Nickell

Combatting Unemployment is a collection of key papers from seminal labour economists Richard Layard and Stephen J. Nickell.

The authors received the IZA Prize in Labor Economics in 2008 for their path-breaking work on the relationship between labor market institutions and unemployment

Why is unemployment higher in some countries than others? Why does it fluctuate between decades? Why are some people at greater risk than others?

Layard and Nickell have worked on these issues for thirty years. Their famous model, first published in 1986, is now used throughout the world. It asserts that unemployment must be high enough to reduce the real wages for which workers settle to the level justified by productivity. So what affects 'wage push'? The authors showed early on that the key factors affecting 'wage push' are how unemployed workers are treated and how wages are negotiated. If unemployed people get benefits without being required to accept jobs, vacancies go unfilled and mass unemployment results. The solution is welfare-to-work policies like those now introduced in most parts of the world.

The authors have proposed these policies for the last twenty-five years in a series of key articles reproduced in this book. Their original analysis explains the subsequent movement of unemployment over the last two decades. They conclude the book with a new chapter on what should be done in the recession: no-one, they say, should be given unemployment benefit beyond a year, after which they should be offered work.

Book details:

Combatting Unemployment
IZA Prize in Labor Economics
Richard Layard and Stephen J. Nickell.
Edited by Werner Eichhorst and Klaus F. Zimmermann
OUP (May 2011)
ISBN 978-0-19-960978-9
£35.99

Purchase this book from the publisher



News Posted: 19/05/2011      [Back to the Top]

CEP Interview

Interview with John Van Reenen on a Plan V for Growth

View Video

Professor John Van Reenen discusses the UK's prospects for economic growth, including the important role of company management and the potential of higher education as a key national industry.

News Posted: 05/05/2011      [Back to the Top]

CEP Interview

Interview with Steve Machin of CEP on wage inequality in the UK since the 1970s.

View Video

Professor Stephen Machin discusses the dramatic rise in inequality in the UK over the past 30 years, including the impact of 'skill-based technological change' and the polarisation of the labour market.

News Posted: 05/05/2011      [Back to the Top]

Guardian

How London is bouncing back from the recession

A couple of months ago, Henry Overman, professor of economic geography at the LSE, gave a lecture titled How Did London Get Away With It? His answer came down to the kind of jobs that Londoners tend to have. The capital has the lion's share of financial services, and those industries came out of the meltdown in far healthier shape than expected. It also has lots of managerial and professional workers, and they've also done better than expected.

This article appeared in the Guardian on March 22, 2011
Link to article

Related Publications
How Did London Get Away With It?, Henry Overman. Article in CentrePiece Volume 15, Issue 3, Winter 2010/2011
'Wage Disparities in Britain: People or Place?', Stephen Gibbons, Henry Overman and Panu Pelkonen, SERC Discussion Paper No.60, October 2010
Slides for SERC and LSE London lecture How Did London Get Away With It? The Recession and the North-South Divide' given on 20 January 2011

Related Links
Henry Overman webpage
Spatial Economics Research Centre (SERC) webpage
Globalisation Programme webpage


News Posted: 22/03/2011      [Back to the Top]

BBC Scotland

Good Morning Scotland

Richard Layard discusses the report on happiness.

This interview took place on BBC Radio Scotland's Good Morning Scotland programme on February 24, 2011
Link to programme (available to download until March 3, 2011).

Related Links
Richard Layard's webpage
CEP Wellbeing Programme webpage

News Posted: 24/02/2011      [Back to the Top]

The Guardian

Treating NHS hospitals with competition and closures

Treating NHS hospitals with competition and closures.
Patients in England, especiallly the poorest, have benefited from choice and competition according to LSE economist Zack Cooper.

This article appeared in The Guardian on 23 February, 2011
Link to article.

Related Publications
Does Hospital Competition Improve Efficiency? An Analysis of the Recent Market-Based Reforms to the English NHS, Zack Cooper, Steve Gibbons, Simon Jones, Alistair McGuire, June 2010, Paper No' CEPDP0988

Related Links
Zack Cooper's webpage

News Posted: 23/02/2011      [Back to the Top]

The Financial News

Little blue pill

The director of the Centre for Economic Performance, a London School of Economics-based research centre, said in a public lecture last week that with the UK economy contracting at the end of last year and more recent news that Pfizer is to shut its main research lab in the UK, the country needs not only a Plan B as an alternative to its austerity drive, but also a Plan V.

This article was published in the Financial News, 21 February 2011
Read the full article

Related links
John Van Reenen webpage Productivity and Innovation Programme webpage



News Posted: 21/02/2011      [Back to the Top]