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News Archive 2014

Politiken.dk

Skype slap for skat i Luxembourg

Skype lax tax in Luxembourg
Luxembourg signed that Janus Friis' booming IT giant worth nothing, shortly before it was sold for 19 billion kr. According to a new leak of secret treasures agreements.
The French economist Gabriel Zucman examined the leaked tax documents, and he says Skype tax agreement is a striking example of the international tax system being ''fundamentally broken''. ''Skype utilizes the simply absurdity of the tax system'', said Gabriel Zucman from the London School of Economics.

This article was published by Politiken.dk on December 9, 2014
Link to article here

Related links
Gabriel Zucman webpage
Productivity and Innovation webpage

News Posted: 09/12/2014      [Back to the Top]

IEco

El dinero en paraísos fiscales equivale al 10% del PBI mundial

Los calculos, del economista frances de la London School of Economics Gabriel Zucman, basados principalmente en datos del Banco Central Suizo, del Tesoro estadounidense y de estimaciones a partir de fuentes y calculos indirectos, dicen que el 9 percent de la capitalizacion de las empresas cotizadas en Wall Street es propiedad de inversores con sede en paraisos fiscales. En el ano 2000 este porcentaje era de 3 percent.

Zucman: ''The money stashed in tax havens equals 10 percent of world GDP''
The calculations, the French economist at the London School of Economics Gabriel Zucman based primarily on data from the Swiss Central Bank, US Treasury and estimates from indirect sources and calculations say that 9 percent of the capitalization of listed companies Wall Street is owned by investors based in tax havens. In 2000 this percentage was 3 percent.

This article was published by IEco on December 8, 2014
Link to article here

Related links
Gabriel Zucman webpage
Productivity and Innovation webpage

News Posted: 08/12/2014      [Back to the Top]

Vox

We don't need no (management) education?

Article by Nicholas Bloom, Raffaella Sadun and John Van Reenen
Schools with greater autonomy often perform well, but there is disagreement over whether this is due to better management or cherry-picking of students. Based on interviews with over 1,800 head teachers, this column finds that management quality is strongly correlated with pupil performance. Autonomous schools have better management, and this result does not appear to be driven by pupil composition or other observable factors. However, autonomy for head teachers is not enough - accountability to school governors is also needed.

This article was published online by Vox on December 7, 2014
Link to article here

Related publications
'Does Management Matter in Schools?', Nicholas Bloom, Renata Lemos, Raffaella Sadun, and John Van Reenen, Centre for Economic Performance Discussion Paper No.1312, November 2014

Related links
Nicholas Bloom webpage
Raffaella Sadun webpage
John Van Reenen webpage
Productivity and Innovation Programme webpage

News Posted: 07/12/2014      [Back to the Top]

Londonist

Things to do in London: Monday 8 December 2014

LONDON GREENBELT: The London Society was instrumental in formulating London's Green Belt in the 20th century. Tonight, near Farringdon, it hosts a debate about the future of London's Green Belt with Jonathan Manns on behalf of the Society, Paul Cheshire from London School of Economics and David Knight from Royal College of Art.

This article was published by the Londonist on December 7, 2014
Link to article here

Related Publications
Turning houses into gold: the failure of British planning, Paul Cheshire. Article in CentrePiece Volume 19, Issue 1, Summer 2014

Related links
Paul Cheshire webpage
Spatial Economic Research Centre (SERC) website

News Posted: 07/12/2014      [Back to the Top]

elPeriódico.com

En directo | Envejecimiento: ¿Es sostenible el sistema de pensiones?

Aging: is the pension system sustainable?

23:14 hours JL Conde Ruiz, Professor of Economics, co-editor and author of the blog NadaesGratis.es book.. What will happen to my pension?: ''Pensions will be lower and will need to work harder In 2050 some will complement his pension with work.'' Garicano clarifies: ''Not that pensions are to be minor, is that they will lower compared to last salary, but higher because the economy will improve.''

Garicano 23:11 hours. "The pension system is a pact between the young and old (...) No savings (...) As there are few young and many older, the covenant is difficult to maintain (...) Except for those who believe in Santa Claus and believe that we can retire earlier (...) endure pensions, the system will be sustainable but will be lower pensions. The pensions will depart from the basic wage.''

This article was published online by El Periodical on December 7, 2014
Link to article here

Luis Garicano webpage
Productitivy and Innovation Programme webpage

News Posted: 07/12/2014      [Back to the Top]

Le Point - Actualite

La 'Google tax' du Royaume-Uni laisse circonspect

Pour Gabriel Zucman, professeur a la London School of Economics et specialiste des paradis fiscaux, la decision britannique de taxer les profits realises au Royaume-Uni va d'ailleurs dans le bon sens. ''Dans le principe, c'est possible. On sait quels sont les profits mondiaux de ces multinationales, on sait quelle portion de leurs ventes ils font au Royaume-Uni, il suffit de dire: on vous taxe a ce niveau'', explique-t-il a l'AFP, jugeant meme un systeme de taxation des profits au niveau national comme etant le plus simple a mettre en place.
The ''Google tax'' announced by the UK spells trouble
Gabriel Zucman, professor at the London School of Economics and a specialist in tax havens, says the British decision to tax the profits made in the UK is in the right direction. ''In principle, it is possible toknow the global profits of these companies, we know what portion of their sales they make in the UK'', he told AFP, ''holding a profits tax system at the national level as the easiest to implement''.

This article was published by Le Point - Actualite on December 4, 2014
Link to article here

Related links
Gabriel Zucman webpage
Productivity and Innovation webpage

News Posted: 04/12/2014      [Back to the Top]

Financial

Young people who argue with their fathers are less resilient when faced with unemployment as adults

Adolescents who have poor relationships with their fathers are more likely to fare worse psychologically if they become unemployed as adults says new research from the Centre for Economic Performance, at the London School of Economics and Political Science (LSE). ... ''We know that unemployment is a massively distressing event that many people do not completely recover from psychologically even after their income has returned to pre-unemployment levels. What we know a lot less about is why some people are more or less affected by unemployment than others,'' Professor Nick Powdthavee, author of the research, said.

This article was published online by the Financial on December 4, 2014
Link to article here

Related publications
What childhood characteristics predict psychological resilience to economic shocks in adulthood?, Nattavudh Powdthavee. Article forthcoming in Journal of Economic Psychology.
'Resilience to Economic Shocks and the Long Reach of Childhood Bullying', Nattavudh Powdthavee, Centre for Economic Performance Discussion Paper No.1173, October 2012

Related links
Nick Powdthavee webpage
Wellbeing Programme webpage

News Posted: 04/12/2014      [Back to the Top]

LSE's British Politics and Policy blog

The Chancellor's 2014 Autumn Statement: Missed targets and missed opportunities

Blog article posted by John Van Reenen
George Osborne's Autumn Statement was a reminder of the government's missed targets and missed opportunities, writes John Van Reenen. The Chancellor's promise to eliminate the structural deficit has failed spectacularly and the UK economy is barely above its pre-crisis level, a major cause of which was the the decision to launch a premature austerity programme in 2010. Crucially, Osborne's plans fall short in addressing Britain's chronic problem of low productivity.

This blog was published by the LSE's British Politics and Policy blog on December 3, 2014
Link to article here

Related links
John Van Reenen webpage
Productivity and Innovation Programme webpage

News Posted: 03/12/2014      [Back to the Top]

Financial Times

Autumn Statement 2014: 1m more public sector jobs to go

Another 1m public sector jobs are expected to be lost over the next five years as part of the latest squeeze on the public finances. ... Adjusted for inflation, wages have fallen by about a 10th since the financial crisis, something that has not been experienced in Britain since the early 1920s. ... The OBR expects rising employment in the private sector to cushion the impact of the loss of state jobs, as proved to be the case for the first round of losses, where despite warnings of spiralling unemployment the private sector picked up the slack. Professor John van Reenen, director of the Centre for Economic Performance at the London School of Economics, said the fall in real wages had been one of the main reasons why unemployment had not risen by more in the aftermath of the crisis. ''That has been very tough on people but it has essentially priced people back into jobs'', he said.

This article was published by The Financial Times on December 3, 2014
Link to article here

Related links
John Van Reenen webpage
Productivity and Innovation Programme webpage

News Posted: 03/12/2014      [Back to the Top]

The Conversation

Chancellor's Autumn Statement: the experts respond

The chancellor of the exchequer, George Osborne, has delivered the financial package he hopes will convince voters to deliver a Conservative majority in May 2015. Here, a team of academic experts [that includes the Centre for Economic Performance's Director Professor John Van Reenen and Research Associate Dr Jo Blanden] responds to the contents of the Autumn Statement.

This article was published online by The Conversation on December 3, 2014
Link to article here

Related links
Jo Blanden webpage
John Van Reenen webpage
Education and Skills Programme webpage
Productivity and Innovation Programme webpage

News Posted: 03/12/2014      [Back to the Top]

World Economic Forum

How to conduct social science

[Joshua] Angrist, the Ford Professor of Economics, has long been one of the leading advocates of research that uses ''ceteris paribus'' [other things being equal] principles. Now, along with Jorn-Steffen Pischke of the London School of Economics, Angrist has written a book on the subject for a general audience, Mastering Metrics: The Path from Cause to Effect, published later this month by Princeton University Press.

This article was published online by the World Economic Forum blog on December 1, 2014
Link to article here.

Related publications
Mastering Metrics: The Path from Cause to Effect by Joshua Angrist and Jörn-Steffen Pischke, Princeton University Press, December 2014
Details

Related links
Jörn-Steffen Pischke webpage
Labour Markets Programme webpage
Wellbeing Programme webpage

News Posted: 01/12/2014      [Back to the Top]

MIT News Press Release

Economist's new book teaches how to conduct cause-and-effect studies on complex social questions

MIT News announced the publication later this month of Mastering Metrics: The Path from Cause to Effect by Joshua Angrist and Jörn-Steffen Pischke.
Economists' new book teaches how to conduct cause-and-effect studies on complex social questions.

The release was published online by MIT News on December 1, 2014
Link to the article here

Related publications
Mastering Metrics: The Path from Cause to Effect by Joshua Angrist and Jörn-Steffen Pischke, Princeton University Press, December 2014
Details

Related links
Jörn-Steffen Pischke webpage
Labour Markets Programme webpage
Wellbeing Programme webpage

News Posted: 01/12/2014      [Back to the Top]

SpyGhana

There are over 70,000 hidden ICT companies in UK

The United Kingdom has discovered that its Information Economy industries could be 42 per cent larger than current estimates, with at least 70,000 extra ICT-producing companies recently captured in a recent data find operating in hotspots across the country. This was contained in new research published by Dr Max Nathan and Dr Anna Rosso at NIESR, alongside Francois Bouet at Growth Intelligence and funded by Nesta. Using 'big data' the report sets out alternative counts of firms in the Government's 'Information Economy' industries, and compares these to estimates using conventional industry codes.

This article was published by SpyGhana on November 28, 2014
Link to article here

Related publications
'Mapping Information Economy Businesses with Big Data: Findings for the UK', Max Nathan and Anna Rosso, Centre for Economic Performance Occasional Paper No.44, December 2014

Related links
Max Nathan webpage
Spatial Economics Research Centre website

News Posted: 28/11/2014      [Back to the Top]

Noticias de Navarra

Vura Music Project

In an item about the cooperative Vura Music Project in Uganda and its long-term future, Professor Luis Garicano mentioned:
As shown in the Economist, Professor Luis Garicano advises that to emerge from the crisis human capital must be invested in. He refers, of course, to education.

This article was published by Noticias de Navarra on November 27, 2014
Link to article here

Related links
Luis Garicano webpage
Productivity and Innovation Programme webpage

News Posted: 27/11/2014      [Back to the Top]

Eurasia Review

Patents and the global diffusion of new drugs - analysis

Article by Iain M. Cockburn, Jean O. Lanjouw and Mark Schankerman
Patented pharmaceuticals diffuse across international borders slowly, and sometimes not at all. This column analyses the effect of patent protection and price regulation on the speed of and extent to which drugs enter new markets. There is a fundamental tradeoff between affordability - taking the form of low patent protection and strong price regulation - and rate of entry into a national market.

This article was posted online by Eurasia Review on November 26, 2014
Link to article here

Related publications
'Patents and the Global Diffusion of New Drugs', Iain Cockburn, Jean O. Lanjouw and Mark Schankerman, Centre for Economic Performance Discussion Paper No.1298, September 2014

Related links
Mark Schankerman webpage
Productivity and Innovation Programme webpage

News Posted: 26/11/2014      [Back to the Top]

BBC World

Global With Matthew Amroliwala

Professor Paul Dolan was interviewed about happiness.

The interview was broadcast by BBC World on November 25, 2014
[No link available]

Related links
Paul Dolan webpage
Wellbeing Programme webpage

News Posted: 25/11/2014      [Back to the Top]

Vox

Patents and the global diffusion of new drugs

Article by Iain M. Cockburn, Jean O. Lanjouw and Mark Schankerman
Patented pharmaceuticals diffuse across international borders slowly, and sometimes not at all. This column analyses the effect of patent protection and price regulation on the speed of and extent to which drugs enter new markets. There is a fundamental tradeoff between affordability - taking the form of low patent protection and strong price regulation - and rate of entry into a national market.

This article was posted online by Vox on November 22, 2014
Link to article here

Related publications
'Patents and the Global Diffusion of New Drugs', Iain Cockburn, Jean O. Lanjouw and Mark Schankerman, Centre for Economic Performance Discussion Paper No.1298, September 2014

Related links
Mark Schankerman webpage
Productivity and Innovation Programme webpage

News Posted: 22/11/2014      [Back to the Top]

Guardian

Happiness expert Paul Dolan: what makes me happy

Article by Paul Dolan
Paul Dolan explains how happiness should be defined and measured in terms of experiences of pleasure and purpose over time.

This article was published by the Guardian on November 22, 2014
Link to article here

Related Links
Paul Dolan webpage
Wellbeing Programme webpage
Paul Dolan CEP publications webpage

News Posted: 22/11/2014      [Back to the Top]

Workplace Savings and Benefits

National wellbeing survey vital for employers - ONS

Everett was supported by Lord Richard Layard and Lord Gus O'Donnell who were also speaking at the launch of the index. Lord O'Donnell said: ''One of the biggest, clearest conclusions from wellbeing analysis is that we should be reallocating wellbeing budgets around the world towards solving mental health problems and away from physical problems. ''Obviously we'd all like more of everything, but as an ex-head of the Treasury I know we're dealing with re-allocations here.'' Lord Layard added that it was interesting that many companies, particularly those in the City where stress levels were high, were having stress reduction courses. ''Some are more cognitive, some are more physical or more mindful based,'' he said. ''But stress reduction courses have been used all over the USA to very good effect - and you can see effects on blood pressure, immune system and so on.''

This article was published online by Workplace Savings and Benefits on November 21, 2014
Link to article here

Related publications
Happiness: Lessons from a New Science, Richard Layard. Penguin 2nd Edition, 2011
Details here
Thrive: the Power of Evidence Based Psychological Therapies, Richard Layard and David M Clark, Penguin, July 2014
Details here

Related links
Richard Layard webpage
Gus O'Donnell webpage
Wellbeing Programme webpage
Happiness and Public Policy Research webpage


News Posted: 21/11/2014      [Back to the Top]

Investors Chronicle

The QE problem

QE so that it has the desirable effects of stimulating economic activity and averting horrible debt dynamics, while not creating a moral hazard problem? Yes, say Luis Garicano at the LSE and Lucrezia Reichlin at the London Business School. They propose the creation of a synthetic bond, comprised of risk-free portions of governments' debt, weighted by GDP.

This article was published by the Investors Chronicle on November 21, 2014
Link to article here

Related links
Luis Garicano webpage
Productivity and Innovation Programme webpage

News Posted: 21/11/2014      [Back to the Top]

Financial Times

Economists raise doubts on tax levers for Holyrood

Poll respondent Sir Christopher Pissarides, professor at the London School of Economics, said the prospect that governments in London and Edinburgh would compete to attract taxpayers would far outweigh any gains; and administration would be complicated.

This article was published by the Financial Times on November 21, 2014
Link to article here

Related links
Christopher Pissarides webpage
Macro Programme webpage

News Posted: 21/11/2014      [Back to the Top]

EUROPP - European Politics and Policy blog

Why the views of middle class citizens help explain increased choice in European healthcare systems

Article by Joan Costa-i-Font and Valentina Zigante
Several countries across Europe have attempted to reform their health systems by allowing patients more choice over their healthcare provider. The typical rationale for this strategy is that by creating competition between providers, there will be an increased incentive to improve the efficiency and quality of healthcare. Joan Costa-i-Font and Valentina Zigante assess the underlying factors that have led to European countries adopting this 'choice agenda' in their healthcare systems. They find that one of the key drivers for this type of reform has been the role of middle class citizens in demanding greater choice over health providers.

This article was published by the LSE's EUROPP (European Politics and Policy) blog on November 21, 2014
Link to article here

Related links
Joan Costa-i-Font webpage
Wellbeing Programme webpage

News Posted: 21/11/2014      [Back to the Top]

Hindustan Times

Does living in a democracy make you tall?

New research linking democracy and wellbeing suggests that men growing up in a democracy are likely to be taller than those who spend the first 20 years of their lives in a communist regime. The link is related to good nutrition, high disposable income and a life free of social and political constraints, according to findings by experts from the London School of Economics and Political Science (LSE). In their study of Czech Republic and Slovakian residents since the dissolution of the communist regime in 1989, political economist Joan Costa-i-Font and colleague Lucia Kossarova found clear height differences between the two regimes.

This article was published online by the Hindustani Times on November 21, 2014
Link to article here

Also in
MSN Nieuws
Indian Monitor
radiosarajevo.ba


Related publications and videos
'Anthropometric Dividends of Czechoslovakia's break up' by Dr Joan Costa-i-Font and Dr Lucia Kossarova, is available here
'Joan Costa-i-Font: The Link between Democracy and Height'. Video link here

Related links
Joan Costa-i-Font webpage
Wellbeing Programme webpage

News Posted: 21/11/2014      [Back to the Top]

O Globo Online - blog

Homens ficam mais altos em democracia do que em regime comunista

Men are taller in a democracy than if grown up in a communist regime
''Men who grow up in a democracy tend to be taller than those who have lived their first 20 years of life under a Communist regime.'' The assertion may seem strange to those who read. But this is one of the findings of a survey conducted by political economists at the London School of Economics (LSE), Joan Costa-Font and Lucia Kossarova.

This article was published by the blog O Globo online on November 20, 2014
Link to article here

Related publications and videos
'Anthropometric Dividends of Czechoslovakia's break up' by Dr Joan Costa-i-Font and Dr Lucia Kossarova, is available here
'Joan Costa-i-Font: The Link between Democracy and Height'. Video link here

Related links
Joan Costa-i-Font webpage
Wellbeing Programme webpage

News Posted: 20/11/2014      [Back to the Top]

Psychology Today

Being happy at work matters for you - and your boss

Article by Paul Dolan
Being happy at work is important. Studies suggest that if you're not happy at work, you're less productive, more likely to take days off sick, and a poor problem solver. Still, some people maintain being happy at work isn't important - that happiness is just one possible by-product of a good working environment, and not worth being goal in and it itself. I think, however, this comes from a fundamental misunderstanding of what happiness can mean. In order to discuss whether it's worth being happy at work - or anywhere else - we should first understand what sort of happiness we are talking about.

This article was published by Psychology Today on November 20, 2014
Link to article here

Related Links
Paul Dolan webpage
Wellbeing Programme webpage
Paul Dolan CEP publications webpage

News Posted: 20/11/2014      [Back to the Top]

Diario Vasco

'Europa afronta un problema de estancamiento a largo plazo'

Europe is facing a problem of long-term stagnation
Europe and Spain within it, has ''a problem of long-term economic stagnation'' because of their limited level of labor productivity to the aging demographic prospects, their debt and some technological advances that serve to reduce the need for labor but do not generate radical changes that encourage society as in the past. This was said today by the economist Luis Garicano, professor and head of department at the London School of Economics, who this morning has been in San Sebastian to participate in a breakfast organized by the mutual guarantee Elkargi, with a large representation of the business Gipuzkoa and civil society.

This article was published by Diario Vasco on November 20, 2014
Link to article here

Related links
Luis Garicano webpage
Productivity and Innovation Programme webpage

News Posted: 20/11/2014      [Back to the Top]

Chicago Daily Herald

How do you solve a problem like Mario's?

Lucrezia Reichlin, the ECB's former head of research, and Luis Garicano of the London School of Economics say that with the right signal from the central bank, markets could create an instrument that mimics a collection of euro-zone government securities, what they term ''safe-market bonds''.

This article was published in the Chicago Daily Herald on November 20, 2014
Link to article here

See also:
Bloomberg Business week
How Do You Solve a Problem Like Mario's? Getting to QE

Washington Post
Answers to Draghi's $1.3 Trillion Quantitative Easing Conundrum

La Repubblica (Italy)
Answers to Draghi's $1.3 Trillion Quantitative Easing Conundrum

Related publications
Vox - 14/11/2014
A safe asset for Eurozone QE: A proposal
Article by Luis Garicano and Lucrecia Reichlin

Related links
Luis Garicano webpage
Productivity and Innovation Programme webpage

News Posted: 20/11/2014      [Back to the Top]

Aftenposten (Norway)

Gir leger bonus for å stille riktig diagnose

Give doctors bonuses for asking the right diagnosis
Professor of Social Policy at the London School of Economics, Martin Knapp, says such incentive schemes tend to have an effect. He thinks this controversial measure will cause some more attention will be given to dementia-diagnosis for the next six months, and he considers the risk of a possible incorrect overdiagnosing to be small.

This article was published by Aftenposten (Norway) on November 20, 2014
Link to article here

Related links
Martin Knapp webpage
Wellbeing Programme webpage

News Posted: 20/11/2014      [Back to the Top]

LSE Press Release

Stand tall if you are living in a democracy

Men growing up in a democracy are likely to be taller than those who spend the first 20 years of their lives in a communist regime. The link between democracy and stature is related to good nutrition, high disposable income and a life free of social and political constraints, according to new findings from the London School of Economics and Political Science. In a study of Czech Republic and Slovakian residents since the dissolution of the communist regime in 1989, LSE political economist Dr Joan Costa-i-Font and colleague Dr Lucia Kossarova found clear height differences between the two regimes.

This press release was published by the London School of Economics on November 20, 2014
The release is available to download here

Related publications and videos
'Anthropometric Dividends of Czechoslovakia's break up' by Dr Joan Costa-i-Font and Dr Lucia Kossarova, is available here
'Joan Costa-i-Font: The Link between Democracy and Height'. Video link here

Related links
Joan Costa-i-Font webpage
Wellbeing Programme webpage

News Posted: 20/11/2014      [Back to the Top]

BBC Radio 3

Free thinking

Paul Dolan on a panel discussion show about happiness.

The programme 'Free Thinking' was broadcast by BBC Radio 3 on November 19, 2014
No link to the broadcast is available.

Related links
Paul Dolan webpage
Wellbeing Programme webpage

News Posted: 19/11/2014      [Back to the Top]

The Independent

Forget Facebook: One man's quest to see his nearest and dearest in person

''Happiness is caused by what we pay attention to'', says [Paul] Dolan, a professor of behavioural science at the London School of Economics, who devised the questions being used in large surveys on happiness in the UK, as well as being asked to advise multinational companies, charities and governments about how they can improve happiness. ''A large part of how you feel is determined by what you do, what you do is largely motivated by the expected impact on your happiness, and happiness is the feedback you receive about the impact of what you do. You can see how it's all very cyclical. Your happiness is determined by how you allocate your attention.''

This article was published by The Independent on November 18, 2014
Link to article here

Related Links
Paul Dolan webpage
Wellbeing Programme webpage
Paul Dolan CEP publications webpage

News Posted: 18/11/2014      [Back to the Top]

The Atlantic

The real roots of midlife crisis

What a growing body of research reveals about the biology of human happiness - and how to navigate the (temporary) slump in middle age Oswald, Terence Cheng, and Nattavudh Powdthavee have found the U-curve in four longitudinal data sets from three countries: an important kind of evidence, because it traces the lived experiences of individuals over time, rather than comparing people of various ages in a statistical snapshot. ...
The idea that the expectations gap closes with age has recently received some empirical backing, in the form of fascinating findings by Hannes Schwandt, a young economist at Princeton University's Center for Health and Wellbeing. He used a German longitudinal survey, with data from 1991 to 2004, that, unusually, asked people about both their current life satisfaction and their expected satisfaction five years hence. That allowed him to compare expectations with subsequent reality for the same individuals over time.

This article was published by The Atlantic on November 17, 2014
Link to article here

Related publications
'Unmet Aspirations as an Explanation for the Age U-Shape in Human Wellbeing', Hannes Schwandt, Centre for Economic Performance Discussion Paper No.1229, July 2013
Longitudinal Evidence for a Midlife Nadir in Human Well-being: Results from Four Data Sets, Terence C. Cheng, Nattavudh Powdthavee and Andrew Oswald, mimeo, February 2014

Related links
Nattavudh Powdthavee webpage
Hannes Schwandt webpage
Wellbeing Programme webpage

News Posted: 17/11/2014      [Back to the Top]

Vox

Does it pay for firms to invest in their workers' wellbeing?

It is generally agreed that firms can improve their employees' wellbeing through improvements in job quality - but is it in their economic interests to do so? This column reports research showing that satisfied employees and higher productivity go together. Analysis of the British Workplace Employment Relations Survey finds that employee job satisfaction is positively associated with workplace financial performance, labour productivity, and the quality of output and service.

This article was published by Vox on November 17, 2014
Link to article here

Related links
Alex Bryson webpage
Labour Markets Programme webpage
Alex Bryson CEP publications webpage

News Posted: 17/11/2014      [Back to the Top]

Financial Times

Easing...quantitative easing - ECB version

Last week, Luis Garicano, a professor at the London School of Economics, and Lucrezia Reichlin, a former head of research at the European Central Bank and now a professor at the London Business School, published a proposal to deal with the ECB's quandary of how to buy sovereign debt without looking as though it is letting reform-shy economies off the hook.

This article was published online by the Financial Times on November 17, 2014
Link to article here

Related links
Luis Garicano webpage
Productivity and Innovation Programme webpage

News Posted: 17/11/2014      [Back to the Top]

The Sunday Telegraph

How to be happy: expert advice

Experts including comedian Ruby Wax, author Gretchen Rubin, and LSE professor Paul Dolan tell you how to find happiness in everyday life.
Paul Dolan provides 5 suggestions for gaining happiness.

This article was published in The Sunday Telegraph on November 16, 2014
Link to article here

Related links
Paul Dolan webpage
Wellbeing Programme webpage

News Posted: 16/11/2014      [Back to the Top]

Eurasia Review

A safe asset for Eurozone QE: A proposal

Article by Luis Garicano with Lucrezia Reichlin
The ECB seems to be edging towards QE, but faces a quandary on what to buy. This proposal suggests that the ECB buy 'Safe Market Bonds'. These would be synthetic bonds formed by the senior tranches of EZ national bonds combined in GDP-weighted proportions. The ECB would merely announce the features of the synthetic bonds it will purchase. The market would create the bonds in response to this announcement, thus avoiding new EZ-level institutions or funds.

This article was published online by Eurasia Review on November 15, 2014
Link to article here

Related links
Luis Garicano webpage

Productivity and Innovation Programme webpage
Luis Garicano CEP publications webpage

News Posted: 15/11/2014      [Back to the Top]

ACQ Magazine

Welfare in Europe: Benefits tourism not OK

How common is benefits tourism? Numbers of migrants and recipients of non-contributory benefits have both risen. ... there seems to be a (weak) correlation between generous non-contributory benefits and numbers of inactive migrants (see chart). ''Migrants are systematically over-represented in the population of recipients of non-contributory transfers,'' says Tito Boeri of Bocconi University in Milan and the London School of Economics. Even when controlling for socioeconomic characteristics, he notes that a disproportionate share of migrants depend on such transfers in France, Sweden and, to a lesser extent, Belgium and Germany.

This article was published by ACQ Magazine on November 14, 2014
Link to article here

Related links
Tito Boeri webpage
Labour Markets Programme webpage

News Posted: 14/11/2014      [Back to the Top]

Stumbling and Mumbling

Bondage

To see my point, consider this paper by Alex Bryson and George MacKerron. They show that I'm not unusual. They asked people at random times of the day how happy they were and what they were doing. They found that people were much less happy when they were working. In fact, of the 40 activities considered, only being ill in bed made folk more miserable than work.

This article was published online by Stumbling and Mumbling blog on November 14, 2014
Link to article here

Related Publications
'Are you happy while you work?', Alex Bryson and George MacKerron, Centre for Economic Performance Discussion Paper No.1187, February 2013
Are you happy while you work?, Alex Bryson and George MacKerron. Article in CentrePiece, Volume 18, Issue 1, Summer 2013

Related links
Alex Bryson webpage
Labour Markets Programme webpage

News Posted: 14/11/2014      [Back to the Top]

Prospect Magazine

Will Britain get a payrise?

What if in our relatively deregulated flexible labour market-where the balance of workplace power favours bosses, many people are engaged on flexible performance-based contracts, and new technology is sweeping away jobs that once paid well-there will never be a return to the days when workers of every type could always rely on a pay rise? Economists such as David Blanchflower, one-time member of the Bank of England's Monetary Policy Committee, and Stephen Machin, who currently sits on the Low Pay Commission which makes recommendations on the level of the hourly minimum wage, point to the experience of the United States, which gave us the blueprint for labour market de-regulation. The real median weekly wage for full-time US employees has more or less flatlined since the 1970s, proving that pay stagnation is not beyond the realm of possibility. ...

As two of Britain's leading labour market economists Paul Gregg and Stephen Machin outlined in a report published by the Resolution Foundation, a think tank, far less unemployment is now needed to bear down on inflationary wage and price pressures. ...

A flexible labour market that favours jobs over pay during tough times is clearly preferable to one that results in the economic and social pain of mass unemployment. Better still, if the economic recovery is sustained long enough to combine a continued fall in unemployment with strengthening productivity growth, we could be on the verge of the kind of labour market scenario George Osborne must dream of: full employment and rising real living standards. However, this positive picture doesn't necessarily translate into an equally rosy outlook for pay. One reason, as research by John van Reenan, Director of the Centre for Economic Performance at the London School of Economics, has shown, is that even when productivity rises employers are nowadays more likely to improve non-wage elements of reward packages-which include contributions to staff pensions and health insurance, plus employers' national insurance contributions-at the expense of pay increases.



This article was published by Prospect Magazine on November 13, 2014
Link to article here

Related publications
What a drag: the chilling impact of unemployment on real wages, Paul Gregg and Stephen Machin, Resolution Foundation Report, September 2012
'Decoupling of wage growth and productivity growth? Myth and reality', Joao Paulo Pessoa and 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. Article in CentrePiece Magazine, Volume 18, Issue 2, Autumn 2013

Related links
Stephen Machin webpage
Labour Markets Programme webpage
John Van Reenen webpage
Productivity and Innovation Programme webpage

News Posted: 13/11/2014      [Back to the Top]

The Evening Standard

Letters to the Editor: Traders given free rein by banks

In a letter to the Editor, Professor John Van Reenen, director of the Centre for Economic Performance says traders have been given free rein by banks - that there has been a a failure of banking regulation and governance.

The letter was published in The Evening Standard on November 13, 2014
Link to article here

Related links
John Van Reenen webpage
Productivity and Innovation Programme webpage

News Posted: 13/11/2014      [Back to the Top]

Le Monde

Les entreprises françaises sont peu compétitives parce que mal gérées

Depuis plus d'une dizaine d'annees, une equipe de chercheurs reunie autour de Nicholas Bloom (professeur a Stanford) et John Van Reenen (professeur a la London School of Economics) etudie l'influence des techniques de management sur la performance des entreprises. Leurs recherches initiales portaient sur quelques centaines d'entreprises dans quatre pays. Les plus recentes se fondent sur plus de 10 000 entreprises dans vingt pays. Elles sont riches d'enseignements pour les entreprises francaises.

This article was published by Le Monde (France) on November 12, 2014
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
Productivity and Innovation webpage

News Posted: 12/11/2014      [Back to the Top]

Centre for Economic Policy Research

Barbara Petrongolo appointed future Director of the Labour Economics Programme

Barbara Petrongolo will take over from Joseph Zweimuller as Director of the Labour Economics Programme from 1 August 2015. Barbara is Professor of Economics at Queen Mary University and Research Associate at the Centre for Economic Performance of the London School of Economics. She has also taught at the Paris School of Economics, the London School of Economics and the University of Carlos III, and studied at the Universita di Pisa and LSE.

This news item was posted by the Centre for Economic Policy Research on November 11, 2014
Link to article here

Related Links
Barbara Petrongolo webpage
Labour Markets Programme webpage


News Posted: 11/11/2014      [Back to the Top]

Camden Review

British Academy Debates. Immigration and the UK economy

During the second series of British Academy Debates, it will be possible for the public to discuss immigration and the UK economy with leading academics in the humanities and social sciences. The public discussion will draw on academic research to help the public gain a better understanding into some of the biggest challenges the country faces. Confirmed speakers will include Professor Ian Goldin from Oxford University, Professor Sir David Metcalf from the London School of Economics, Nazek Ramadan, the founder of Migrant Voice who was named Migrant and Refugee woman of the year and many more.

This article was published by the Camden Review on November 11, 2014
Link to article here


Related links
David Metcalf webpage
Labour Markets webpage
David Metcalf CEP publications webpage

News Posted: 11/11/2014      [Back to the Top]

Herald Scotland

We need to plan better for precious years of childhood

The new understanding that childhood emotional wellbeing is key to a fulfilled adulthood comes from the Wellbeing research programme at the London School of Economics' Centre for Economic Performance. Its study analysed data from around 9,000 people over 40 years.

This article was published by the Herald Scotland on November 11, 2014
Link to article here

Related publications
'What Predicts a Successful Life? A Life-Course Model of Well-Being', Andrew E. Clark, Francesca Cornaglia, Richard Layard, Nattavudh Powdthavee and James Vernoit, Centre for Economic Performance Discussion Paper No.1245, October 2013
What Predicts a Successful Life? A Life-Course Model of Well-Being, Richard Layard, Andrew Clark, Francesca Cornaglia, Nattavudh Powdthavee and James Vernoit, Economic Journal, Feature Issue, Vol. 124, Issue 580, pp. F720-F738, November 2014

Related links
Richard Layard webpage
Andrew Clark webpage
Francesca Cornaglia webpage
Nattavudh Powdthavee webpage
Wellbeing Programme webpage


News Posted: 11/11/2014      [Back to the Top]

Tapei Times online

Emotional health in childhood is key to adult happiness

[Richard] Layard and his colleagues at the Wellbeing research program at the London School of Economics' Centre for Economic Performance concluded that a child's emotional health is far more important to their satisfaction levels as an adult than other factors, such as if they achieve academic success when young, or wealth when older.

This article was published by the Taipei Times online on November 10, 2014
Link to article here

Related publications
'What Predicts a Successful Life? A Life-Course Model of Well-Being', Andrew E. Clark, Francesca Cornaglia, Richard Layard, Nattavudh Powdthavee and James Vernoit, Centre for Economic Performance Discussion Paper No.1245, October 2013
What Predicts a Successful Life? A Life-Course Model of Well-Being, Richard Layard, Andrew Clark, Francesca Cornaglia, Nattavudh Powdthavee and James Vernoit, Economic Journal, Feature Issue, Vol. 124, Issue 580, pp. F720-F738, November 2014

Related links
Richard Layard webpage
Andrew Clark webpage
Francesca Cornaglia webpage
Nattavudh Powdthavee webpage
Wellbeing Programme webpage


News Posted: 10/11/2014      [Back to the Top]

Gulf Times

WISH partners with WISE to conduct health study

The World Innovation Summit for Health (WISH) has held a special debate on education and wellbeing in partnership with the World Innovation Summit for Education (WISE) at the Qatar National Convention Centre. ... WISH has also established the Mental Health and Wellbeing in Children and Young People Forum, chaired by Prof the Lord Richard Layard, wellbeing programme director at the Centre for Economic Performance at the London School of Economics. The forum will further explore the role of education in wellbeing as part of its remit to produce evidence-based reports and provide recommendations for policymakers at the second WISH Summit taking place in February 2015 in Qatar.

This article was published online by Gulf News on November 8, 2014
Link to article here

Related links
Richard Layard webpage
Wellbeing Programme webpage


News Posted: 08/11/2014      [Back to the Top]

The Guardian

Emotional health in childhood 'is the key to future happiness'

Richard Layard and his colleagues at the Wellbeing research programme at the London School of Economics' Centre for Economic Performance conclude that a child's emotional health is far more important to their satisfaction levels as an adult than other factors, such as if they achieve academic success when young, or wealth when older.

This article was published by the Guardian on November 8, 2014
Link to article here

Related publications
'What Predicts a Successful Life? A Life-Course Model of Well-Being', Andrew E. Clark, Francesca Cornaglia, Richard Layard, Nattavudh Powdthavee and James Vernoit, Centre for Economic Performance Discussion Paper No.1245, October 2013
What Predicts a Successful Life? A Life-Course Model of Well-Being, Richard Layard, Andrew Clark, Francesca Cornaglia, Nattavudh Powdthavee and James Vernoit, Economic Journal, Feature Issue, Vol. 124, Issue 580, pp. F720-F738, November 2014

Related links
Richard Layard webpage
Andrew Clark webpage
Francesca Cornaglia webpage
Nattavudh Powdthavee webpage
Wellbeing Programme webpage


News Posted: 08/11/2014      [Back to the Top]

Public Radio International

Would health care reform stifle innovation?

Zack Cooper discusses whether US efforts to reform health care could mean a loss of medical innovation for the rest of the world.

This interview was broadcast on Public Radio International on November 7, 2014
Link to interview here

Related Links
Zack Cooper webpage
Productivity and Innovation webpage
Zack Cooper CEP publications webpage

News Posted: 07/11/2014      [Back to the Top]

BBC South

News

Paul Cheshire discusses housing affordability and need to build new housing.

This interview was broadcast by BBC South on November 6, 2014
(no link available)

Also on:
BBC Radio Oxford

Related links
Paul Cheshire webpage
Spatial Economics Research Centre (SERC) website
Paul Cheshire CEP publications webpage

News Posted: 06/11/2014      [Back to the Top]

The Journal of Turkish Weekly

The effect of immigration on public finances

Much attention of researchers and policy-makers has been directed at the effects of immigration on the wages and employment of natives in the host country (for example, Friedberg and Hunt 1995; Manacorda et al 2012; Dustmann et al 2013). But most empirical studies have failed to find any convincing evidence of substantial negative impact. ... Research in several countries suggests that immigrants are typically healthier than natives when arriving (unsurprisingly if the economic gains from migrating for work are greater for the more healthy), but they assimilate to native health levels over time. It would therefore be odd if burdens on health spending were very much different to those from comparable UK-born. Wadsworth (2013), for example, shows no difference, which is compatible with what has been found for other countries. The potential impact of immigration on crime rates is sometimes cited as an issue. But again, empirical work across several countries offers little to confirm such fears. Bell et al (2013) and Jaitman and Machin (2013), for example, show that the most recent wave of UK immigration has had no evident impact on crime rates.

This article was published by The Journal of Turkish Weekly on November 5, 2014
Link to article here

Related publications
Bell, B, F Fasani and S Machin (2013) Crime and Immigration: Evidence from Large Immigrant Waves, Review of Economics and Statistics 95: 1278-1290.
'Crime and Immigration: Evidence from Large Immigrant Waves', Brian Bell, Francesco Fasani and Stephen Machin, Centre for Economic Performance Discussion Paper No.984, June 2010
Geay, C, S McNally and S Telhaj (2013) Non-native Speakers of English in the Classroom: What are the Effects on Pupil Performance?, Economic Journal 123: F281-307.
In brief: Language barriers: The impact of non-native English speakers in the classroom, Charlotte Geay, Sandra McNally and Shqiponja Telhaj. Article in CentrePiece Volume 17, Issue 1, Spring 2012
'Non-native Speakers of English in the Classroom: What are the Effects on Pupil Performance?' by Charlotte Geay, Sandra McNally and Shqiponja Telhaj, Centre for the Economics of Education Discussion Paper No.137, March 2012
Jaitman, L and S Machin (2013) Crime and Immigration: New Evidence from England and Wales, IZA Journal of Migration 2(19).
'Crime and Immigration: New Evidence from England and Wales', Laura Jaitman, Stephen Machin, Centre for Economic Performance Discussion Paper No.1238, September 2013
Machin, S and R Murphy (2014) 'Paying Out and Crowding Out: The Globalisation of Higher Education', Centre for Economic Performance Discussion Paper No 1299, September 2014.
Manacorda, M, A Manning and J Wadsworth (2012) The Impact of Immigration on the Structure of Wages: Theory and Evidence from Britain, Journal of the European Economic Association 10: 120-51.
'The Impact of Immigration on the Structure of Male Wages: Theory and Evidence from Britain', Marco Manacorda, Alan Manning and Jonathan Wadsworth, Centre for Economic Performance Discussion Paper No.754, October 2006
Wadsworth, J (2013) Musn't Grumble: Immigration, Health and Health Service Use in the UK and Germany, Fiscal Studies 34: 55-82.
'Musn't Grumble. Immigration, Health and Health Service Use in the UK and German', Jonathan Wadsworth, Centre for Economic Performance Discussion Paper No.1166, September 2012

Related links
Brian Bell webpage
Stephen Machin webpage
Marco Manacorda webpage
Alan Manning webpage
Sandra McNally webpage
Richard Murphy webpage
Shqiponja Telhaj webpage
Jonathan Wadsworth webpage
Education and Skills Programme webpage
Labour Markets Programme webpage



News Posted: 05/11/2014      [Back to the Top]

Financial Times

Rajoy must go if Spain is to confront the threats it faces

Article by Luis Garicano
A stable two-party political system has been among Spain's greatest strengths in the post-Franco era. But since 2008 the brutal economic crisis - together with growing evidence that large sections of both parties have operated as engines of patronage, graft and influence peddling - has undermined the legitimacy of the system and allowed two existential threats to the constitutional order to flourish.

This article was published by the Financial Times on November 5, 2014
Link to article here

Related links
Luis Garicano webpage
Productivity and Innovation Programme webpage

News Posted: 05/11/2014      [Back to the Top]

British Politics and Policy blog

The 'investor route' to UK citizenship should be reformed

Blog article by David Metcalf
Wealthy foreigners looking for a quick way to get permanent residence in the UK can take the 'investor route'. David Metcalf explains how simple reforms to the system, including visa auctions, would benefit UK residents.

This blog article was posted online by LSE's British Politics and Policy blog on November 3, 2014
Link to the article here

Related publications
The 'investor route' to UK citizenship, David Metcalf. Article in CentrePiece Volume 19, Issue 2, Autumn 2014

Related links
David Metcalf webpage
Labour Markets Programme webpage

News Posted: 03/11/2014      [Back to the Top]

Elite Daily

20 reasons friends are worth more than money - $133,000 to be exact

In Nattavudh Powdthavee's research paper, ''Putting a Price Tag on Friends, Relatives, and Neighbours'', he discusses the monetary values we can put on social interactions.

This article was published online by Elite Daily on October 30, 2014
Link to article here

Related publications
Putting a price tag on friends, relatives, and neighbours: Using surveys of life satisfaction to value social relationships, Nattavudh Powdthavee, The Journal of Socio-Economics, Volume 37, Issue 4, August 2008

Related links
Nattavudh Powdthavee webpage
Wellbeing Programme webpage

News Posted: 30/10/2014      [Back to the Top]

Washington Post

A company that profits as it pampers workers

Nick Bloom and his colleagues studied 700 firms around the world. ''We find more productive, faster growing and better managed firms offer their employees a more attractive work-life balance package'', Bloom said in an email. Many companies don't, he said, because they're simply not aware of that connection. ''Managing large companies is complex and hard. ... Getting worklife balance practices right is particularly hard, as this is a fast moving area, facilitated by modern IT, and a lot of firms are operating with outdated practices.''

This article was published by The Washington Post on October 23, 2014
Link to article here

Related Publications
Measuring and Explaining Management Practices Across Firms and Countries, Nicholas Bloom and John Van Reenen, Quarterly Journal of Economics Volume 122, Issue 4, November 2007
'Human Resource Management and Productivity', Nicholas Bloom and John Van Reenen, Centre for Economic Performance Discussion Paper No.982, May 2010
'Why Do Management Practices Differ Across Firms and Countries?', Nicholas Bloom and John Van Reenen, Centre for Economic Performance Occasional Paper No.26, August 2010

Related Links
Nick Bloom webpage
John Van Reenen webpage
Productivity and Innovation Programme webpage

News Posted: 23/10/2014      [Back to the Top]

The Guardian

Low pay is breaking Britain's public finances: the evidence can't be denied

Permanent low pay threatens to overtake us, with the Treasury, hit by lower tax receipts, facing an ever-rising benefits bill.
On Wednesday Steve Machin, research director at the LSE's centre for economic performance, laid out to a meeting of economists the collected evidence on the nature of falling pay - and warned that this is beginning to look not like a slow recovery in wages, but a permanent, structural feature of the UK economy. He showed how the group-think of economic forecasters has consistently and wildly over-estimated an expected increase in wages: the OBR forecast for March this year was a wage rise of 4.3 percent. What happened has been a continuing real fall.

This article was published by the Guardian on October 23, 2014
Link to article here

Related publications
Real wages continue to fall in the UK, David Blanchflower and Stephen Machin, CEP Real Wages Updates No.001, September 2014
Falling real wages, David Blanchflower and Stephen Machin. Article in CentrePiece Volume 19, Issue 1, Summer 2014

Related links
Stephen Machin webpage
Labour Markets Programme webpage

News Posted: 23/10/2014      [Back to the Top]

The Daily Telegraph

X factor over evidence: the failure of early years education

Article by Jo Blanden
As free nursery places for three year olds fail to deliver lasting educational benefits, Dr Jo Blanden argues we need to see a sensible approach to early years policy.

This article was published by The Daily Telegraph on October 22, 2014
Link to article here

Related links
Jo Blanden webpage
Education and Skills Programme webpage
Jo Blanden CEP Publications webpage

News Posted: 22/10/2014      [Back to the Top]

City Growth Commission

John Van Reenen joins other Commissioners in launch of Final report: Unleashing Metro Growth

CEP Director, John Van Reenen, joins other City Growth Commissioners in launch of Final report, Unleashing Metro Growth. Commission Chair Jim O'Neill presents findings at 11am, Wednesday 22 October, 2014.

Unleashing Growth is the final report of the City Growth Commission, containing a full set of recommendations for national and local government.

The report makes the case for, and explain how, cities can take a new role in our political economy, creating stronger, more inclusive and sustainable growth in the UK.

The final report considers evidence heard by the Commission in the form of written submissions and evidence hearings, and discussions hosted by the Commission at seminars, roundtables and other stakeholder engagement.

Key recommendations outline a significant shift - from the centre to metros - in policy and finance.

For more information, please visit the City Growth Commission website.



News Posted: 22/10/2014      [Back to the Top]

American Politics and Policy blog - LSE

Fiat Chrysler's story shows that manufacturing can be viable and successful in mature western economies

Is there a future for industry in Europe and North America? Giorgio Barba Navaretti and Gianmarco Ottaviano use the example of the newly merged transatlantic car-maker Fiat Chrysler to debunk a number of myths about the nature of manufacturing and its viability in the mature economies of the West.

This article was published by the LSE's American Politics and Policy blog on October 20, 2014
Link to article here

Related publications
Fiat Chrysler and the future of industry, Giorgio Barba Navaretti, Gianmarco I.P. Ottaviano and Maria Teresa Trentinaglia. Article in CentrePiece Volume 19, Issue 2, Autumn 2014

Related links
Gianmarco Ottaviano webpage
Globalisation Programme webpage

News Posted: 20/10/2014      [Back to the Top]

British Politics and Policy Blog - LSE

Gone with the wind: house prices are negatively affected where turbines are visible

Wind turbines are generally popular as a source of green energy but face considerable opposition from the people who have to live near them. Steve Gibbons uses local property markets as a way to value the visual impact of wind farms and finds significant negative effects on house prices in postcodes where the turbines are visible.

This article was posted online by the LSE's British Politics and Policy blog on October 20, 2014
Link to article here

Related publications
'Gone with the Wind: Valuing the Visual Impacts of Wind Turbines through House Prices', Stephen Gibbons, SERC Discussion Paper No.159, April 2014
Gone with the Wind, Stephen Gibbons. Article in CentrePiece Volume 19, Issue 2, Autumn 2014

Related links
Stephen Gibbons webpage
SERC website

News Posted: 20/10/2014      [Back to the Top]

Patria online

What life satisfaction do we lose during a recession or gain during a boom

Similar considerations are linked with the far more important question: does more money give greater satisfaction? Jan-Emmanuel De Neve and Michael Norton, professors from the London School of Economics and Harvard University examined data for the past 40 years from more than 150 countries. Specifically, they were about the possible relationship between the mental health and the economic cycle.

This article was published online by Patria online (Czechoslovakia) on October 19, 2014
Link to article here


Related Publications and films
'Individual Experience of Positive and Negative Growth is Asymmetric: Evidence from Subjective Well-being Data', Femke De Keulenaer, Jan-Emmanuel De Neve, Georgios Kavetsos, Michael I. Norton, Bert Van Landeghem and George W. Ward, Centre for Economic Performance Discussion Paper No.1304,October 2014
The untold story of the recession: the psychological cost
The psychological cost of a few years of recession can wipe out the benefits of many years of growth. Jan-Emmanuel De Neve of the Centre for Economic Performance explains his latest research on the effect of the recent recession on people's wellbeing.
View film here.

Related Links
Jan-Emmanuel De Neve webpage
Wellbeing webpage

News Posted: 19/10/2014      [Back to the Top]

The Observer

Is it time to rethink Britain's green belt?

Professor Paul Cheshire of the London School of Economics, has written that ''the unstoppable damage they do to societal fairness, housing affordability, the economic efficiency of our cities, even the environment, is devastating''. He argues that new houses in Britain are 40 percent more expensive than the Netherlands, which is more densely populated, and that the green belt is at least partly to blame.

This article was published in The Observer on October 19, 2014
Link to article here

Related publications and films
Gearty Grilling: Paul Cheshire on Planning and the Housing Crisis, LSE film. Also available to view on You Tube - Gearty Grilling: Paul Cheshire on Planning and the Housing Crisis
Turning houses into gold: the failure of British planning, Paul Cheshire. Article in CentrePiece Volume 19, Issue 1, Summer 2014

Related links
Paul Cheshire webpage
Spatial Economic Research Centre (SERC) website


News Posted: 19/10/2014      [Back to the Top]

El Pais

El mercado se topa con la realidad

Luis Garicano, Professor at the London School of Economics, says that ''Investors are waiting for a long time for the three things proposed by Mario Draghi (President of the European Central Bank) to happen: Germany to loosen up fiscal austerity, countries such as France and Italy to boost their reforms and that the ECB will adopt aggressive measures such as direct purchases of public debt''.

This article was published by El Pais (Spain) on October 18, 2014
Link to article here

Related links
Luis Garicano webpage
Productivity and Innovation Programme webpage

News Posted: 18/10/2014      [Back to the Top]

Small Business

Small business and flexibility: friend or foe?

Studies show that fears about remote workers being 'untrustworthy' and less productive are unfounded; a 2013 study by the London School of Economics and Political Science found that employees able to work from home are more productive than their office-bound colleagues because they are less distracted, grateful for flexibility and save time on commuting.

This article was published by Small Business on October 16, 2014
Link to article here

Related Publications
'Does Working from Home Work? Evidence from a Chinese Experiment', Nicholas Bloom, James Liang, John Roberts and Zhichun Jenny Ying, Centre for Economic Performance Discussion Paper No.1194, March 2013

Related Links
Nick Bloom webpage
Productivity and Innovation Programme webpage


News Posted: 16/10/2014      [Back to the Top]

Britain News.Net

Vince Cables golf course plan fails to hook critics

Alluding to research from the London School of Economics, which showed more of Surrey if devoted to golf courses than housing, Dr Cable said if he was in a middle-income family struggling to find a home in the county, he would ask ''is a golf course sacred or are there better uses of the land?''

This article was published online by Britain News.Net on October 16, 2014
Link to article here

Related publications and films
Gearty Grilling: Paul Cheshire on Planning and the Housing Crisis, LSE film. Also available to view on You Tube - Gearty Grilling: Paul Cheshire on Planning and the Housing Crisis
Turning houses into gold: the failure of British planning, Paul Cheshire. Article in CentrePiece Volume 19, Issue 1, Summer 2014

Related links
Paul Cheshire webpage
Spatial Economic Research Centre (SERC) website


News Posted: 16/10/2014      [Back to the Top]

DiarioLibre.com

Es la 'crisis de la mediana edad' solo una excusa?

Is the mid-life crisis just an excuse?
However, a study published earlier this year found that an average decrease of subjective happiness, or welfare as described by economists in middle age, between 40 and 42 years occurs. Professor Nattavudh Powdthavee, coauthor of the longitudinal research conducted in three countries, said that this confirms previous studies showing a relationship between age and the use of antidepressants. ...
Dr. Hannes Schwandt, Princeton University, believes midlife, unlike childhood and old age, has not been investigated. Last year, he published the research focused on the ''unfulfilled expectations''. It was found that young people are optimistic perhaps even ''too optimistic'' - while those in their forties and fifties feel repentance before they feel at peace with themselves in older age. ''Maybe people of middle age can learn from the elderly, who are less regretful and more accepting'' he suggests. ...
Paul Dolan, professor of behavioral science at the London School of Economics and author of Happiness by Design believes we need a mix of purpose and pleasure to feel truly happy. In a future article, argues that much of the economic literature on midlife crisis centers on our assessments of what makes us happy rather than our actual experiences. In other words, the stories we tell ourselves about what makes us happy, which a prestigious job is good- even depress us our daily experience of this work.

This article was published online by DiarioLibre.com on October 14, 2014
Link to article here

Related Publications
'Unmet Aspirations as an Explanation for the Age U-Shape in Human Wellbeing', Hannes Schwandt, Centre for Economic Performance Discussion Paper No.1229, July 2013
Happiness by Design: Finding pleasure and purpose in everyday life, Paul Dolan, Allen Lane, August 2014, ISBN 9780241003107 Details

Related Links
Paul Dolan webpage
Nattavudh Powdthavee webpage
Hannes Schwandt webpage
Wellbeing Programme webpage

News Posted: 14/10/2014      [Back to the Top]

hacked by Rizgar halshoy kurdish hacker

hacked by Rizgar halshoy kurdish hacker

Vince Cable's in trouble for suggesting we build on golf courses. The business secretary was referring to research by the London School of Economics showing that more of Surrey is devoted to golf than housing.

This article appeared in the Times on 14 October 2014 link to article

Related publications
Turning houses into gold: the failure of British planning Paul Cheshire. Article in CentrePiece Volume 19, Issue 1, Spring 2014

Related links
Paul Cheshire webpage
Spatial Economics Research Centre (SERC) website

News Posted: 14/10/2014      [Back to the Top]

El Pais

El futuro de la innovación: dos visiones

The future of innovation: two visions
Article by Luis Garicano
Luis Garicano says that productivity growth is the key to economic growth.

This article was published by El Pais on October 12, 2014
Link to article here (in translation)

Related publications
El Dilema De Espana, Luis Garicano. Published by Grup 62, January 2014, ISBN: 8499422829
Details

Related links
Luis Garicano webpage
Productivity and Innovation Programme webpage

News Posted: 12/10/2014      [Back to the Top]

The Boston Globe

The Berlin Wall's great human experiment

When the Berlin Wall went up in 1961, it created what London School of Economics associate professor Daniel Sturm calls a ''perfect experiment''. While people in West Germany voted in free elections, read independent newspapers, and protested if they felt dissatisfied with their government, their Eastern counterparts lived inside a surveillance state ruled by a zealously doctrinaire communist party. Where ''Ossis'' - an unofficial term for those who lived in East Germany - drove famously shoddy Trabant cars, wore drab clothing, and drank off-brand soda, their ''Wessi'' counterparts enjoyed Pepsi and regularly saw BMWs in the street. The two halves of the country were like a pair of identical twins separated at birth and raised by two very different sets of parents.

This article was published by The Boston Globe (U.S.A.) on October 12, 2014
Link to article here

Related links
Daniel Sturm webpage
Globalisation Programme webpage
Daniel Sturm CEP publications webpage

News Posted: 12/10/2014      [Back to the Top]

The Economist

The new school rules

The academies programme has transformed England's educational landscape. ... A separate study by Professor Machin and Andrew Eyles at the London School of Economics identified ''beneficial effects'' in schools becoming academies.

This article was published in The Economist on October 11, 2014
Link to article here

Related links
Andrew Eyles webpage
Stephen Machin webpage
Education and Skills Programme webpage

News Posted: 11/10/2014      [Back to the Top]

Clarin

No va mas...quien ganara el Nobel de Economia?

Veronica Rappoport of the Centre for Economic Performance comments on her choice to be recipient(s) of this year's Nobel Prize for Economics:
''At some point should touch the area of economic growth: Romer, Aghion and perhaps Barro I would love a prize for. Holmstrom and Tirole.''

This article was published online by Clarin on October 10, 2014
Link to article here

Related links
Veronica Rappoport webpage
Globalisation Programme webpage

News Posted: 10/10/2014      [Back to the Top]

The Atlantic

Why don't boom-times make people happier?

New research from Jan-Emmanuel De Neve and Michael Norton, professors at the London School of Economics and Harvard respectively, looks at four decades of data (collected from more than 150 countries, including one dataset from the Centers for Disease Control and covers 2.5 million U.S. respondents) to investigate the relationship between life satisfaction and the business cycle. What they found was that well-being is two to eight times more sensitive to negative economic times: Psychologically, a recession hurts a lot more than a boom helps.

This article was published by The Atlantic on October 9, 2014
Link to article here

Related publications and films
The untold story of the recession: the psychological cost
The psychological cost of a few years of recession can wipe out the benefits of many years of growth. Jan-Emmanuel De Neve of the Centre for Economic Performance explains his latest research on the effect of the recent recession on people's wellbeing.
View here.

'Individual Experience of Positive and Negative Growth is Asymmetric: Evidence from Subjective Well-being Data', Femke De Keulenaer, Jan-Emmanuel De Neve, Georgios Kavetsos, Michael I. Norton, Bert Van Landeghem and George W. Ward, Centre for Economic Performance Discussion Paper No. 1304, October 2014

Related links
Jan-Emmanuel De Neve webpage
Wellbeing Programme webpage

News Posted: 09/10/2014      [Back to the Top]

The Daily Mirror

It's the biggest disease in Britain, so why is it only now a priority?

In an article sourced from the Centre for Economic Performance's Mental Health Policy Group, the Health and Social Care Information Centre, the Mental Health Foundation, Young Minds and the Guardian the Mirror explains why mental health needs to be a government priority.

The article was published in The Daily Mirror on October 9, 2014
Link to article here

Related publications
Thrive: the Power of Evidence Based Psychological Therapies, Richard Layard, David M Clark, Penguin, July 2014

Further links
Recent films: Let's Make Mental Health a Priority
Treating mental illness is the right thing to do morally but also economically - Richard Layard of the Centre for Economic Performance explains why treating mental illness should be high on the public agenda. The costs of treatment for mental illness are far less than the costs of doing nothing.

Related links
Richard Layard webpage
Wellbeing Programme webpage
Happiness and Public Policy Research webpage

News Posted: 09/10/2014      [Back to the Top]

World Economic Forum

Why busts hurt more than booms help

Article by Jan-Emmanuel De Neve and Michael I. Norton
We find evidence that the life satisfaction of individuals is between two and eight times more sensitive to negative growth as compared to positive economic growth. People do not psychologically benefit from expansions nearly as much as they suffer from recessions. These results suggest that policymakers seeking to raise wellbeing should focus more on preventing busts than inculcating booms. Our results also offer an explanation for why increases in GDP do not always pay off in increases in happiness - the modest happiness gains accrued over years of growth can be wiped out by just a single year of contraction.

This article was published online by the World Economic Forum on October 9, 2014
Link to article here

Related publications and films
The untold story of the recession: the psychological cost
The psychological cost of a few years of recession can wipe out the benefits of many years of growth. Jan-Emmanuel De Neve of the Centre for Economic Performance explains his latest research on the effect of the recent recession on people's wellbeing.
View here.

'Individual Experience of Positive and Negative Growth is Asymmetric: Evidence from Subjective Well-being Data', Femke De Keulenaer, Jan-Emmanuel De Neve, Georgios Kavetsos, Michael I. Norton, Bert Van Landeghem and George W. Ward, Centre for Economic Performance Discussion Paper No. 1304, October 2014


Related links
Jan-Emmanuel De Neve webpage
Wellbeing Programme webpage

News Posted: 09/10/2014      [Back to the Top]

Le Plus

Des ados partent faire le djihad en Syrie : comme le suicide, un comportement de fuite

Some researchers have studied the characteristics of happy people. They identified six factors which only concern the economy (unemployment), the others being: divorce rate, the level of trust between the people, the number of participants in non-religious organizations, the number of believers and the quality of government. (Reference: Happiness: Lessons from a New Science, Richard Layard, 2005).

This article was published by Le Plus on October 8, 2014
Link to article here

Related publications
Happiness: Lessons from a New Science, Richard Layard. Penguin 2nd Edition, 2011
Details here

Related links
Richard Layard webpage
Wellbeing Programme webpage
Happiness and Public Policy Research webpage

News Posted: 08/10/2014      [Back to the Top]

The Times

Build homes on golf courses, suggests Cable

New homes should be built on golf courses in an attempt to solve the housing crisis, Vince Cable has suggested. ... Dr Cable was responding to a study by the London School of Economics which suggested that more of Surrey was used for golf courses than housing.

This article was published by The Times on October 8, 2014
Link to article here

Related articles
Turning houses into gold: the failure of British planning, Paul Cheshire. Article in CentrePiece Volume 19, Issue 1, Spring 2014

Related links
Paul Cheshire webpage
Spatial Economics Research Centre website

News Posted: 08/10/2014      [Back to the Top]

The Conversation

Attention David Cameron: time to stop the scaremongers from strangling TTIP

Article by Dennis Novy
If you have been following the TTIP negotiations in the press over the past year, you might have been under the impression that TTIP is a corporate sell-out and nothing but a threat for the average person in the street. There has been a lot of hype and scaremongering, which has not only taken some issues completely out of context but has often hopelessly exaggerated reality. ... The reality is that UK business is in line to do well out of TTIP.

This article was published online by The Conversation on October 5, 2014
Link to article here

Related links
Dennis Novy webpage
Globalisation Programme webpage
Dennis Novy CEP publications webpage

News Posted: 05/10/2014      [Back to the Top]

Times Higher Education

Domestic postgraduate places 'aided by overseas expansion'

Fees paid by growing numbers of overseas postgraduates studying in the UK have helped to subsidise additional places for domestic learners. That is among the findings of a new paper by Stephen Machin, professor of economics at University College London, and Richard Murphy, assistant professor of economics at the University of Texas at Austin, which analyses correlations between the increases in the numbers of British-born and overseas students in UK higher education institutions. ...The full research is detailed in a discussion paper from the Centre for Economic Performance at the London School of Economics, and is summarised in article published today in CentrePiece, the Centre's quarterly magazine.

This article was published by Times Higher Education on October 3, 2014
Link to article here

Related publications
Overseas students: the impact on domestic student numbers, Stephen Machin and Richard Murphy. Article in CentrePiece Volume 19, Issue 2, Autumn 2014
'Paying Out and Crowding Out? The Globalisation of Higher Education', Stephen Machin and Richard Murphy, Centre for Economic Performance Discussion Paper No. 1299, September 2014

Related links
Stephen Machin webpage
Richard Murphy webpage
Education and Skills Programme webpage

News Posted: 03/10/2014      [Back to the Top]

The McKinsey Quarterly

Why management matters for productivity

Article by John Dowdy and John Van Reenen
While government policy will play a key role, the actions of managers and their organizations will decisively influence the realization of global productivity potential in the years ahead.

This article was published online by the McKinsey Quarterly on September 30, 2014
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 Practice and Productivity: Why they Matter, Nicholas Bloom, Stephen Dorgan, John Dowdy, Christos Genakos, Raffaella Sadun and John Van Reenen, July 2007

Related links
John Van Reenen webpage
Productivity and Innovation Programme webpage
Management Practices and Organisational Structures research webpage

News Posted: 30/09/2014      [Back to the Top]

The Daily Telegraph

Competition, not politicians, will push up living standards

There is no question that real wages have been squeezed to an unprecedented extent over the past five years and living standards are under pressure. A report from the Centre for Economic Performance this week found the real wages of the typical median worker had fallen by 8-10pc since 2008, or around 2pc a year. The reason is simple. Wages have stagnated, while prices have carried on rising.

This article was published by the daily Telegraph on September 30, 2014
Link to article here

Related Publications
Real wages continue to fall in the UK, David Blanchflower and Stephen Machin, CEP Real Wage Update, September 2014
Falling real wages, David Blanchflower and Stephen Machin. Article in CentrePiece Volume 19, Issue 1, Spring 2014

Related links
Stephen Machin webpage
Labour Markets Programme webpage


News Posted: 30/09/2014      [Back to the Top]

Vox

Real wages continue to fall in the UK

Article by David Blanchflower and Stephen Machin
Real wages continue to fall in the UK and elsewhere, yet despite this striking feature of the labour market, some commentators anticipate resurgent pay growth in the near future. This column argues that the absence of any improvement in the UK's productivity performance - together with evidence that nominal wage growth is flatlining and real wage growth is falling - make it highly unlikely that wage growth is about to explode upwards.

This article was published online by Vox on September 29, 2014
Link to article here

Related publications
Falling real wages, David Blanchflower and Stephen Machin. Article in CentrePiece Volume 19, Issue 1, Spring 2014

Related links
Stephen Machin webpage
Labour Markets Programme webpage

News Posted: 29/09/2014      [Back to the Top]

The International New York Times

Looking at Productivity as a State of Mind

Of course with newer forms of technology, showing up for work on time need not mean being physically at a given workplace. A study by the economists Nicholas Bloom, John Roberts and Zhichun Ying of Stanford and James Liang of Peking University looked at call center workers in China. In their experiment, some workers were randomly assigned to work at home, others worked in group call centers. The work habits of both groups were carefully monitored electronically, and the workers knew it. The researchers found that those working at home were 13 percent more productive than those in call centers.

This article was published by the International New York Times - The Upshot on September 27, 2014
Link to article here

Related publications
'Does Working from Home Work? Evidence from a Chinese Experiment', Nicholas Bloom, James Liang, John Roberts and Zhichun Ying, Centre for Economic Performance Discussion Paper No.1194, March 2013
Working or shirking?, Nicholas Bloom, James Liang, John Roberts and Zhichun Jenny Ying. Article in CentrePiece Volume 17, Issue 3, Winter 2012

Related links
Nicholas Bloom webpage
Productivity and Innovation Programme webpage


News Posted: 27/09/2014      [Back to the Top]

Huffington Post - The Blog

So it turns out Londoners aren't all that happy - what can we do about it?

The ONS' data showed that whilst, on average, Londoners have the highest disposable incomes in the country they are also the most anxious and have the lowest levels of life satisfaction. None of this will come as any surprise to anyone who has read their Spirit Level or the works of economists like Richard Layard or philosophers such as Peter Singer who have argued that money can't buy us happiness. In fact, there appears to exist a ''happiness paradox'': once personal income rises above subsistence level, happiness does not increase. Instead, it is more likely to decrease because a focus on money-making creates harsher social comparisons and ultimately encourages greed and materialism. Far from bringing contentment, such behaviours distract us from those aspects of our lives (friends, family, and communities) that hold their own intrinsic and life-satisfying values. Instead we seek to compare our fortunes with those of our neighbours - keeping up appearances with Hyacinth Bucket next door.

This article was published online by The Huffington Post - The Blog on September 24, 2014
Link to article here

Related publications
Happiness: Lessons from a New Science, Richard Layard. Penguin 2nd Edition, 2011
Details here

Related links
Richard Layard webpage
Wellbeing Programme webpage
Happiness and Public Policy Research webpage

News Posted: 24/09/2014      [Back to the Top]

Centre for Economic Performance Press Release

Let's make mental health a national priority: new short film from the Centre for Economic Performance

In a short online film, Professor Richard Layard of the Centre for Economic Performance (CEP) explains why treating mental illness should be high on the public agenda, especially as proven psychological therapies effectively cost nothing.

The film - made by Econ Films - was launched on September 23, 2014
View here

Related links
CEP press release webpage
Richard Layard webpage
Wellbeing Programme webpage

News Posted: 23/09/2014      [Back to the Top]

The Financial Times

Scottish separation represents a gamble with very poor odds

In a letter to the Financial Times, academics from Scotland and England warn that separation is a gamble with very poor odds. Professor John Van Reenen, Director of the Centre for Economic Performance; Professor Mike Elsby, Mr Nick Oulton and Dr Kevin Sheedy, Associates of CEP plus Felix Koenig, an Occasional Research Assistant with CEP were co-signees.

The letter was printed in the Financial Times on September 17, 2014
Link to article here

Related links
Mike Elsby webpage
Felix Koenig webpage
Nick Oulton webpage
Kevin Sheedy webpage
John Van Reenen webpage
Labour Markets Programme webpage
Macro Programme webpage
Productivity and Innovation Programme webpage


News Posted: 17/09/2014      [Back to the Top]

City A.M.

Planning liberalisation is the closest thing there is to an economic silver bullet

Liberalisation of planning could therefore lower house prices and rents directly, and there would be a direct boost to building growth. But the real gains would come through a fall in the cost burden associated with property. For sectors like childcare, social care, restaurants and even many office-based industries, high rents and property prices raise prices for consumers, with a dynamic strain on our growth prospects brought about by a reduction in competition and innovation. This is especially true in the retail sector, where planning laws, supplemented with ''town centre first'' policies, have led to much smaller stores than in countries like the US. On conservative assumptions, Paul Cheshire from the LSE has estimated that the effects of these self-induced policies may have lowered productivity in the retail sector by as much as 20 per cent - raising the cost of our shopping directly, while depressing the wages of the often low-skilled employees in the sector.

This article was published by City A.M. on September 16, 2014
Link to article here

Related links
Paul Cheshire webpage
Spatial Economics Research Centre (SERC) website
Paul Cheshire CEP publications webpage

News Posted: 16/09/2014      [Back to the Top]

British Science Festival

CEP Session on Economics of Inequality

On Monday 8 September 2014, CEP hosted the only economics session in the British Science Festival. Presenting their work on the "Economics of Inquality" were John Van Reenen on the 99%; Brian Bell on Top Pay of the 1% and Barbara Petrongolo on Gender. Members of the public listened and discussed the findings with the presenters at the University of Birmingham.

Link to British Science Festival website

 



News Posted: 08/09/2014      [Back to the Top]

The Conversation

Why Finland, Korea and Czech Republic get the most bang for their educational buck

Article by Peter Dolton
There are around 1.3 billion children enrolled in primary and secondary schools worldwide. Each year, governments spend trillions of dollars on their education systems with the objective of educating children to the highest possible standard. Some governments use available budgets more efficiently than others. A new report which I co-authored called the Efficiency Index, published by London-based education consultancy GEMS Education Solutions, has highlighted which countries are using these most effectively to produce the best educational outcomes for their young people. Finland, Korea and the Czech Republic come out on top of the 30-country list.

This article was published online by The Conversation on September 5, 2014
Link to article here

Related publications
The Efficiency Index: Which Education Systems Deliver the Best Value for Money? by Peter Dolton, Oscar Marcenaro-Gutierrez and Adam Still, published by GEMS Education Solutions, September 2014.

Related links
Peter Dolton webpage
Education and Skills Programme webpage

News Posted: 05/09/2014      [Back to the Top]

El Pais

Escocia y Cataluña marcan la agenda en Bruselas

En el otro lado, el economista Luis Garicano, tambien de la London School of Economics, advirtio de los ''brutales costes de un divorcio a las bravas'', pero dejo tambien un duro ataque a la actitud del Ejecutivo de Mariano Rajoy: ''El PP es en este momento en mayor enemigo de la unidad de Espana por el increible debilitamiento de las instituciones en sus dos anos y medio de Gobierno, desde el Constitucional a los tribunales de Competencia''.
Scotland and Catalonia set the agenda in Brussels
On the other hand, the economist Luis Garicano, also from the London School of Economics, warned of the ''brutal costs of divorce to the brave'', but also made a scathing attack on the attitude of the executive Mariano Rajoy: ''The PP it is at this time the greatest enemy of unity of Spain by the incredible weakness of the institutions in their two and half years of government, from the Constitutional courts Competition''.

This article was published by El Pais on September 2, 2014
Link to article here

Related links
Luis Garicano webpage
Productivity and Innovation Programme webpage

News Posted: 02/09/2014      [Back to the Top]

El Pais

Draghi: una oferta que no debemos rechazar, Article by Luis Garicano

Draghi: an offer you should not refuse
Article by Luis Garicano
The Spanish and European economic course opens with the bad news of growth in real GDP and prices in the euro area in the second quarter and the response in an important (and excellent) speech on August 22 at Jackson Hole by the President of the European Central Bank, Mario Draghi. Recent news show that Germany, Italy and France and the eurozone economy as a whole, has stagnated, hindering the Spanish recovery (as shown by the recent national indicators of industrial activity). The prices in the euro area are also stagnant, while in Spain they have fallen. Interest rates show that investors do not believe the ECB is able to keep prices at their target of 2 percent growth. Unfortunately, as shown even by the Japanese experience, once the economy settles into deflation and expectations of economic agents are ''anchored'' in the fall of prices, it is difficult to get out.

This article was published by El Pais on August 30, 2014
Link to translated article here
Link to original article here

Related links
Luis Garicano webpage
Productivity and Innovation Programme webpage

News Posted: 30/08/2014      [Back to the Top]

Yahoo! Mexico

Llaman a establecer políticas más efectivas en lucha antidrogas

Professor Christopher Pissarides among those calling for establishing more effective policies in fighting drug use.

This article was published online by Yahoo! Mexico on August 25, 2014
Link to article here

See also
Rumbo Marihuana: La prohibicion casi es historia pero, se legalizara inteligentemente?
IeLa opinion Los Anges
Marihuana: La prohibicion casi es historia pero, se legalizara inteligentemente?
CNN Mexico
Seguridad y drogas, oportunidades y retos para Pena
El Zocalo
Urgen expertos a legalizar uso de algunas drogas
Het Laatste Nieuws
Patrick Janssens: Geloof puzzelstukje te zijn dat op dit moment ontbreekt
El Financiero Mexico
Politica antidrogas, mas costosa que efectiva: CIDE

Related publications
Ending the Drug Wars, Report of the LSE Expert Group on the Economics of Drug Policy, May 2014

Related links
Christopher Pissarides webpage
Macro Programme webpage

News Posted: 25/08/2014      [Back to the Top]

The Daily Telegraph

Happiness by Design, review: 'occasionally jargon-heavy'

Rowan Pelling enjoys a new approach to the old problem of happiness
I bet politicians hanker for the days when they only had to worry whether the population was fed and plague-free, rather than fretting about their well-being. Now happiness is a matter of national anxiety and Paul Dolan, a professor at the LSE and self-described ''sentimental hedonist'', is at the forefront of the debate. Dolan's new book, Happiness by Design, aims to combine lessons from economics and behavioural science to improve our lot. Chiefly, Dolan wants to refocus our attention: ''What you attend to drives your behaviour and it determines your happiness. Attention is the glue that holds your life together.'' But, he points out, attention is a limited resource, so we tend to squander it on social media, petty worries and unprofitable goals. He wants us to refocus it on objectives and activities that yield ''experiences of pleasure and purpose over time'' (Dolan's definition of happiness).

This article was published by The Daily Telegraph on August 25, 2014
Link to article here

Related Links
Paul Dolan webpage
Wellbeing Programme webpage

News Posted: 25/08/2014      [Back to the Top]

The Sunday Times

The secret to happiness starts with a D

''Lost happiness is lost for ever'' could be a slogan emblazoned on the favourite T-shirt of a pseudo-intellectual teenage poet, or the tag line of a deep-house club night in Dalston, east London. In fact, it's the life maxim of the prestigious behavioural scientist Professor Paul Dolan. Thanks to Dolan, it is a principle that reaches well beyond angsty teenagers: as a London School of Economics (LSE)academic, a former member of the Cabinet Office's ''nudge unit'' and part of the Office for National Statistics wellbeing team, Dolan guides public policy and the government's approach to happiness research. Now - happy news for the individual - Dolan, with his two diamante earrings in his left ear and trendy helping of stubble, has written a book, Happiness by Design, in which he explains why most of us are not as happy as we could be ... and how we can transform ourselves.

This article was published by the Sunday Times on August 24, 2014
Link to article here

Related Links
Paul Dolan webpage
Wellbeing Programme webpage

News Posted: 24/08/2014      [Back to the Top]

Finchannel

Psychology of parenting: Mother's personality measured during pregnancy predicts how well children perform in GCSEs

Babies born to mothers who hold a stronger belief that their fate is in their own hands and not down to luck tend to perform better in their GCSE exams 16 years later. That is the central finding of research by the Centre for Economic Performance (CEP) published by the London School of Economics and Political Science (LSE).

This article was published onlinie by Finchannel on August 23, 2014
Link to article here

Related Publications
'Locus of Control and Its Intergenerational Implications for Early Childhood Skill formation', Francesca Cornaglia, Warn N. Lekfuangfu, Nattavudh Powdthavee and Nele Warrinnier, Centre for Economic Performance Discussion Paper No.1293, August 2014

Related Links
Francesca Cornaglia webpage
Warn N. Lekfuangfu webpage
Nattavudh Powdthavee webpage
Nele Warrinner webpage
Wellbeing Programme webpage

News Posted: 23/08/2014      [Back to the Top]

Bristol Post

Bristol's chance to learn the happiness habit

The project cites Thrive: The Power of Evidence-Based Psychological Therapies – the latest work by Richard Layard, co-authored with David Clark, professor of psychology at Oxford University. Mr Layard is credited as one of the leading figures who wants the campaign for happiness and wellbeing to be put centre-stage in policy-making.

This article was published by the Bristol Post on August 22, 2014
Link to article here

Related Publications
Thrive: the Power of Evidence Based Psychological Therapies Richard Layard, David M Clark, Penguin, July 2014
Details here

Related Links
Richard Layard webpage
David Clark webpage
Wellbeing Programme webpage


News Posted: 22/08/2014      [Back to the Top]

Press TV

'Youths face gloomy future in Cameron's Britain'

The more persistent problems are stagnant pay and insecure employment terms. But these problems, too, are heavily concentrated on the young. British labor market experts Paul Gregg and Stephen Machin calculate that whereas the workforce as a whole has endured a lost decade for pay, the real drop in earnings for the youngest age bracket is now a breathtaking 14 percent, setting them back a full 16 years to 1998 wage rates.

This article was published online by Press TV on August 21, 2014
Link to article here

Related Publications
What a drag: The chilling impact of unemployment on real wages, Paul Gregg, Stephen Machin, 2012
Stephen Machin's CEP Publications

Related Links
Stephen Machin webpage
Labour Markets webpage

News Posted: 21/08/2014      [Back to the Top]

Huffington Post Deutschland

Warum ein EU-Austritt der Briten Irrsinn wäre

Eine Analyse des Centre for Economic Performance (CEP) an der London School of Economics kommt zu dem Ergebnis: Die Isolation von Europa konnte GroBbritannien harter treffen als die Finanzkrise 2007.
An analysis of the Centre for Economic Performance (CEP) at the London School of Economics concludes: Isolation from Europe could hit Britain harder than the financial crisis of 2007.

This article was published in The Huffington Post Deutschland on August 19, 2014
Link to article here

Related publications
The Costs and Benefits of Leaving the EU, Gianmarco Ottaviano, Joao Paulo Pessoa, Thomas Sampson and John Van Reenen, Centre for Economic Performance Technical Paper, May 2014
Brexit or Fixit? The Trade and Welfare Effects of Leaving the European Union, Gianmarco Ottaviano, Joao Paulo Pessoa, Thomas Sampson and John Van Reenen, Centre for Economic Performance Policy Paper No.16, May 2014

Related links
Gianmarco Ottaviano webpage
Joao Paulo Pessoa webpage
Thomas Sampson webpage
John Van Reenen webpage
Globalisation Programme webpage
Productivity and Innovation Programme webpage

News Posted: 19/08/2014      [Back to the Top]

The Psychologist

Call for access to psychological therapies to double

Two of the key figures behind government reform in mental health care have spoken of the success of the Improving Access to Psychological Therapies (IAPT) initiative. Professor Lord Richard Layard, Emeritus Professor of Economics at the London School of Economics and Political Science (LSE), and clinical psychologist Professor David Clark (University of Oxford), were talking at the LSE to mark the launch of their new book Thrive: The Power of Evidence-Based Psychological Therapies.

This article was published in The Psychologist Volume 27, Issue 9 September 2014 on August 19, 2014
Link to article here

Related Publications
Thrive: the Power of Evidence Based Psychological Therapies Richard Layard, David M Clark, Penguin, July 2014
Details here

Related Links
Richard Layard webpage
David Clark webpage
Wellbeing Programme webpage


News Posted: 19/08/2014      [Back to the Top]

The Times

Tiger moths lift children's exam results before birth

Tiger mothers predestine their children to do well at school even before they are born, research has suggested. Babies born to highly competitive women who believe that they have the power to shape their children's prospects go on to achieve better GCSE results, academics found. The research, by academics at the London School of Economics, was based on a study that tracks more than 10,000 children born in and around Bristol from 1991. Early in their pregnancy mothers were asked questions such as ''Do you believe things happen no matter what you try to do to stop them?'', and ''Does planning ahead make things turn out better?'' They were then interviewed annually until their children were five. Using their answers, the women were grouped by a psychological measure known as locus of control, which reflects whether people think outcomes are influenced by their own actions. The research plotted the GCSE results of teenagers whose mothers had shown high internal control tendencies in their twelfth week of pregnancy. Francesca Cornaglia, an economist at Queen Mary University, London, said: ''Other things constant, children whose mothers ranked in the top 25 per cent of the internal locus of control scale tended to obtain GCSE scores about 17 per cent higher than children of mothers in the bottom 25 per cent.''

This article was published in The Times on August 19, 2014
Link to article here

Related Publications
'Locus of Control and Its Intergenerational Implications for Early Childhood Skill formation', Francesca Cornaglia, Warn N. Lekfuangfu, Nattavudh Powdthavee and Nele Warrinnier, Centre for Economic Performance Discussion Paper No.1293, August 2014

Related Links
Francesca Cornaglia webpage
Warn N. Lekfuangfu webpage
Nattavudh Powdthavee webpage
Nele Warrinner webpage
Wellbeing Programme webpage

News Posted: 19/08/2014      [Back to the Top]

Psychology Today

Now, where was I?

Article by Paul Dolan

There are two main sources of evidence that technology is creating distracted mindsets amongst us. The first is from neuroscience: Technology physically alters the way our brains work. The brains of heavy Internet users - people who report symptoms of addiction - actually shrink, just as they do in people who are addicted to drugs like heroin. Consider also the medical condition 'digital dementia', which refers to irreversible deficits in brain development and memory loss among children who spend a lot of time on electronic devices.

This article was published by Psychology Today on August 18, 2014
Link to article here

Related Links
Paul Dolan webpage
Paul Dolan CEP Publications webpage
Wellbeing Programme webpage

News Posted: 18/08/2014      [Back to the Top]

Tech Republic

AI destroys more jobs than it creates: What that means and how to stop it

History teaches us that labour markets are able to recover from the changes wrought upon them by technological change, said Alan Manning, professor of economics at the London School of Economics. ''If I take an historical perspective then technical change has always destroyed some jobs and created others, and this would in some sense be no different from that'', Manning said. ''There will be some people who have spent 20 or 30 years specialised in a job and suddenly there is no demand for that. They suffer big losses but in the long run that washes out, no young people go into those jobs and they go into something else and there is always something else to go into.''

This article was published by Tech Republic on August 18, 2014
Link to article here

Related Publications
Lovely and lousy jobs, Alan Manning. Article in CentrePiece, Volume 18, Issue 3, Autumn 2013
'Lousy and Lovely Jobs: the Rising Polarization of Work in Britain', Maarten Goos and Alan Manning, Centre for Economic Performance Discussion Paper No.604, December 2013
Lousy and Lovely Jobs: The Rising Polarization of Work in Britain, Maarten Goos and Alan Manning, The Review of Economics and Statistics, 89(1), February 2007

Related Links
Alan Manning webpage
Labour Markets webpage
Communities Programme webpage

News Posted: 18/08/2014      [Back to the Top]

Finanzen.net

Europas Jugend hängt finanziell am Tropf

Indem sie ihren Kindern finanziell unter die Arme greifen, haben die Eltern auch unabsichtlich den offentlichen Druck entscharft, die Beschäftigungs-und Renten so zu andern, dass ihre Kinder einen leichteren Start ins Berufsleben bekommen, sagt Luis Garicano, spanischer Wirtschaftsprofessor an der London School of Economics.
By helping their children financially, the parents have also unwittingly also blunted public pressure for changes to labour rules and pension rights that could make it easier for their children to get a start, says Luis Garicano, a prominent Spanish economist at the London School of Economics.

This article was published online by Finanzen.net on August 18, 2014
Link to article here

Related Links
Luis Garicano webpage
Productivity and Innovation webpage

News Posted: 18/08/2014      [Back to the Top]

EurAsia Review

Is there a 'taste for discrimination'? - Analysis

Article by Alex Bryson and Arnaud Chevalier
This column presents evidence from a new test of taste-based discrimination. Examining hiring decisions in the English Fantasy Premier League, the authors do not find that employers discriminate based on race. One explanation for this is that good productivity measures minimise the opportunities for statistical discrimination, which according to studies drives the racial difference in market outcomes.

This article was published online by the EurAsian Review on August 18, 2014
Link to article here

Related publications
'What happens when employers are free to discriminate? Evidence from the English Barclays Premier Fantasy Football League', Alex Bryson and Arnaud Chevalier, Centre for Economic Performance Discussion Paper No.1283, July 2014

Related links
Alex Bryson webpage
Labour Markets Programme webpage

News Posted: 18/08/2014      [Back to the Top]

LSE News

Psychology of parenting: mother's personality measured during pregnancy predicts how well children perform in GCSEs

Babies born to mothers who hold a stronger belief that their fate is in their own hands and not down to luck tend to perform better in their GCSE exams 16 years later. That is the central finding of new research by the Centre for Economic Performance (CEP).

This article was published by LSE News online on August 18, 2014
Link to article here

Related Publications
'Locus of Control and Its Intergenerational Implications for Early Childhood Skill', Francesca Cornaglia, Warn N. Lekfuangfu, Nattavudh Powdthavee and Nele Warrinnier, Centre for Economic Performance Discussion Paper No.1293, August 2014

Related Links
Francesca Cornaglia webpage
Warn N. Lekfuangfu webpage
Nattavudh Powdthavee webpage
Nele Warrinner webpage
Wellbeing Programme webpage


News Posted: 18/08/2014      [Back to the Top]

The Globe and Mail (Canada)

Mental illness: A depressing failure of public policy

The lost productivity and direct health expenses have an economic cost; in a recent analysis for the Mental Health Commission of Canada, the value was pegged at $50-billion a year. Labour economist Richard Layard argues that such estimates are inherently conservative: Mental illness casts a long shadow, over our jails and emergency departments, with total costs of more than 8 per cent of a country's GDP.

This article was published by The Globe and Mail (Canada) on August 15, 2014
Link to article here

Related Publications
Thrive: the Power of Evidence Based Psychological Therapies Richard Layard, David M Clark, Penguin, July 2014
Details here

Related Links
Richard Layard webpage
David Clark webpage
Wellbeing Programme webpage


News Posted: 15/08/2014      [Back to the Top]

Financial Chronicle

The weight of weariness

The economist Richard Layard, after advocating that the goal of public policy should be to maximise happiness, set out to learn what the greatest impediment to happiness was today. His conclusion: depression. Depression causes nearly half of all disability, affects one in six, and explains more current unhappiness than poverty. And (important for public policy) cognitive behavioural therapy has a short-term success rate of 50 per cent.

This article was published in the Financial Chronicle on August 15, 2014
Link to article here

Related Publications
Thrive: the Power of Evidence Based Psychological Therapies Richard Layard, David M Clark, Penguin, July 2014
Details here

Related Links
Richard Layard webpage
David Clark webpage
Wellbeing Programme webpage


News Posted: 15/08/2014      [Back to the Top]

Xataka

Si quieres que tu casa se revalorice, instala fibra óptica

In translation:

The London School of Economics and Political Science (LSE) along with the Imperial College Business School have conducted a curious study that analyzed the evolution of the price of more than one million homes in the United Kingdom over 15 years.
What conclusions have been obtained? Because that apart from housing bubbles, homes with better Internet connection is put on sale for a higher price. For the study they have compared homes in the same area with similar features but with different qualities and speed access to Internet.

This article was published by Xataka on August 5, 2014
Link to article here

Related publications
'Speed 2.0. Evaluating Access to Universal Digital Highways', Gabriel M. Ahfeldt, Pantelis Koutroumpis and Tommaso Valletti, SERC Discussion Paper No.161, July 2014

Related links
Gabriel Ahlfeldt webpage
SERC website


News Posted: 05/08/2014      [Back to the Top]

Individual.com

'London home owners pay premium for fast internet - study'

Home owners in London are willing to pay up to 8 percent above the market price for properties in areas offering very fast internet speeds, according to new research from the London School of Economics (LSE) and Imperial College Business School. The researchers argue that this willingness to pay a premium for good internet coverage strengthens the case for roll-out of high speed broadband in densely populated areas. Data compiled over a 15-year period, from 1995-2010, show that property prices across the UK increase on average by about 3 percent when internet speed doubles. Londoners show a greater willingness than the rest of the country to pay for broadband, reflecting very high usage in the capital city for both work and personal reasons.

This article was published online by Individual.com on August 5, 2014
Link to article here

Related publications
'Speed 2.0. Evaluating Access to Universal Digital Highways', Gabriel M. Ahfeldt, Pantelis Koutroumpis and Tommaso Valletti, SERC Discussion Paper No.161, July 2014

Related links
Gabriel Ahlfeldt webpage
SERC website


News Posted: 05/08/2014      [Back to the Top]

Broadband Communities - News and Views

Internet speed closely linked to property values

Londoners show a greater willingness than the rest of the country to pay for broadband, reflecting very high usage in the capital city for both work and personal reasons. ''Speed matters,'' says Gabriel Ahlfeldt, associate professor of urban economics and land development at the London School of Economics and Political Science. ''The European Commission has set a target by 2020 that every European citizen will need access to at least 30 Mbps and at least 50 percent of households should subscribe to Internet connections above 100 Mbps.''

This article was published online by Broadband Communities - News and Views on August 5, 2014
Link to article here

Related publications
'Speed 2.0. Evaluating Access to Universal Digital Highways', Gabriel M. Ahfeldt, Pantelis Koutroumpis and Tommaso Valletti, SERC Discussion Paper No.161, July 2014

Related links
Gabriel Ahlfeldt webpage
SERC website


News Posted: 05/08/2014      [Back to the Top]

The Telegraph

Why UK house prices have grown faster than anywhere else

House prices have grown faster in England since late 1973 than almost all other European countries. So what is going on? The problem is clearly that there is too little supply, given the demand and the growing population. But why? There are two possible kinds of constraints. The first are regulatory: ... The second kind are natural and physical: a scarcity of land, for example, or an uneven topography that makes it very hard to build. So which of the two factors are most important in the case of the UK? And what would happen to prices in their absence? Christian A. L. Hilber of the London School of Economics and Wouter Vermeulen of the CPB Netherlands Bureau for Economic Policy Analysis have just produced a dispassionate analysis of the problem, which will be published shortly in the Economic Journal.

This article was published by The Telegraph on August 5, 2014
Link to article here

Related publications
'The Impact of Supply Constraints on House Prices in England', Christian A.L. Hilber and Wouter Vermeulen, SERC Discussion Paper No.119, September 2012 (revised 2014).

Related links
Christian Hilber webpage
SERC website


News Posted: 05/08/2014      [Back to the Top]

The Financial Times

When crime stops paying

Were the severe sentences to participants in the 2011 riots an essential crisis response or a draconian overreaction? To an economist, they are something else: a fascinating natural experiment. With the news full of crushing punishments, it must have seemed plausible that the risks of committing a crime had soared. So did the threat of harsh punishments deter crime? The usual statistical problem is that sentencing policy might influence crime rates but crime rates might equally influence sentencing policy. Cause and effect are hard to disentangle. In the case of the riots, however, the surge in crime that provoked the crackdown was sudden, unexpected, highly localised and brief. The sentencing response was drawn-out and stories of harsh sentences appeared in the national and London press for months. As a result, a mugger or burglar in an area of London entirely unaffected by the riots might still feel conscious that the mood of the judiciary had changed. Three economists, Brian Bell, Laura Jaitman and Stephen Machin, used this sudden change in the judicial wind to measure the impact of tough sentences on crime. Across London, they found a significant drop in ''riot crimes'' - burglary, criminal damage and violence against the person - over the six months following the riots. Meanwhile, other crimes showed a tendency to increase, as though criminals were substituting away from the ''expensive'' crimes and towards the ''cheaper'' ones.

This article was published in the Financial Times on August 1, 2014
Link to article here

Related publications
Crime Deterrence: Evidence from the London 2011 Riots, Brian Bell, Laura Jaitman and Stephen Machin, LSE mimeo, Revised October 2013.

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

News Posted: 01/08/2014      [Back to the Top]

LSE News online

Internet speed closely linked to property values

Londoners show a greater willingness than the rest of the country to pay for broadband, reflecting very high usage in the capital city for both work and personal reasons. ''Speed matters,'' says Gabriel Ahlfeldt, Associate Professor of Urban Economics and Land Development at the London School of Economics and Political Science. ''The European Commission has set a target by 2020 that every European citizen will need access to at least 30 megabits per second and at least 50 per cent of households should subscribe to internet connections above 100 megabits per second.''

This press release was posted online on July 31, 2014
Link to press release here

Related publications
'Speed 2.0. Evaluating Access to Universal Digital Highways', Gabriel M. Ahfeldt, Pantelis Koutroumpis and Tommaso Valletti, SERC Discussion Paper no.161, July 2014

Related links
Gabriel Ahlfeldt webpage
SERC website


News Posted: 31/07/2014      [Back to the Top]

LSE News and Media - Around LSE

Professor John Van Reenen jointly awarded the 2014 EIB Prize for Excellence in Economic and Social Research

Professor John Van Reenen, Department of Economics and Centre for Economic Performance, has been awarded the European Investment Bank Institute's 2014 'Outstanding Contribution Award'. The accolade, jointly awarded to Professor Nicholas Bloom of Stanford University, recognises academics whose research is related to innovation, market structure and competitiveness.

This article was posted online by LSE News and Media - Around LSE on July 28, 2014
Link to article here

See also
European Union News - July 28, 2014
The 2014 EIB Prize for Excellence in Economic and Social Research Awarded to the Economists Nicholas Bloom and John Van Reenen

Related links
Nicholas Bloom webpage
John Van Reenen webpage
Productivity and Innovation Programme webpage
Management Practices and Organisational Structures Research webpage

News Posted: 28/07/2014      [Back to the Top]

lanacion.com.ar (Argentina)

Plan Terapia para Todos: la salud mental de los economistas y las series policiales de Film and Arts

''En los paises ricos, las enfermedades mentales son el 38 percent de todas las enfermedades; y el porcentaje trepa a 50 percent en la poblacion trabajadora'', dice Richard Layard, economista de la London School of Economics, que promueve en Inglaterra algo asi como un plan de Terapia para Todos. Layard cuenta, en un libro escrito junto al psicologo David Clark, que los costos de un programa a gran escala de terapias cognitivo-conductuales cortas - 16 sesiones - ''basadas en evidencia con resultados reales'' son mucho menores a los costos que implican las dolencias emocionales en terminos de dias no trabajados, desmotivacion, etcetera.

This article was published by lanacion.com.ar (Argentina) on July 27, 2014
Link to article here

Related Publications
Thrive: the Power of Evidence Based Psychological Therapies, Richard Layard and David M Clark, Penguin, July 2014
Details

Related Links
Richard Layard webpage
David Clark webpage
Wellbeing Programme webpage

News Posted: 27/07/2014      [Back to the Top]

The Sunday Times (Scotland)

Freedom fighters offer a pig in a poke for the neediest of Scots

The SNP has been in government in a devolved Scotland for more than seven years. During that time it has had control over most of the levers of social justice, from education to healthcare, from local authority spending to housing. The fact that the party has chosen to concentrate on constitutional reform rather than, to take one example, school reform, is their decision and not Westminster's. If anything is instrumental in turning around people's lives it is education - proof of which is now being seen in England's inner cities. Here, there are no plans for the revolution that is rescuing failing schools south of the border, and there remain ''deep levels of inequality... particularly between pupils from different socio-economic groups'', claims the LSE study 'Education in a Devolved Scotland'.

This article was published in The Sunday Times (Scotland) on July 27, 2014
Link to article here

Related Publications
'Education in a Devolved Scotland: A Quantitative Analysis', Stephen Machin, Sandra McNally and Gill Wyness, Centre for Economic Performance Special Paper No.30, May 2013.
Education in Scotland: performance in a devolved policy area, Stephen Machin, Sandra McNally and Gill Wyness. Article in CentrePiece Volume 18, Issue 1, Summer 2013

Related Links
Stephen Machin webpage
Sandra McNally webpage
Gill Wyness webpage
Education and Skills webpage

News Posted: 27/07/2014      [Back to the Top]

The Observer

Thrive: the Power of Evidence-Based Psychological Therapies review - 'a punchy polemic on mental health'

One in three families contains someone who suffers mental illness, with one in 10 children having diagnosable mental disorders - yet fewer than one-third of these people receive treatment. Such shocking statistics litter the pages of Thrive, the latest blast by former ''happiness tsar'' Richard Layard in conjunction with David Clark, professor of psychology at Oxford University. Lord Layard is a celebrated labour economist who deserves plaudits for promoting the concept of placing wellbeing alongside wealth as a government goal - an idea promoted by David Cameron in opposition, then sadly shunted aside in office after coming under fire from critics who failed to understand the issues. The book's central point is that the failure to place mental illness on a par with physical illness costs the country dearly.

This article was published in The Observer on July 27, 2014
Link to article here

Related Publications
Thrive: the Power of Evidence Based Psychological Therapies, Richard Layard and David M Clark, Penguin, July 2014
Details

Related Links
Richard Layard webpage
David Clark webpage
Wellbeing Programme webpage

News Posted: 27/07/2014      [Back to the Top]

The Independent

If Hadza nomads get by on 14 hours' work a week, why can't we?

A substantial literature already surrounds the UK ''productivity puzzle'', whereby post-recession output and employment have risen while national productivity markedly drops: $42.1 contribution to GDP per hour worked in 2013, compared with a eurozone average of $43.7 and a G7 rate of $48.4. Explanations for the plunge range from the misallocation of resources and the post-crash investment famine to, in several studies, the long-term fall in real wages. Professor John Van Reenen of the London School of Economics argues in a paper that ''low wages and weak investment mean a big fall in the amount of effective capital per worker and this accounts for most of the fall in labour productivity''.

This article was published in The Independent on July 26, 2014
Link to article here

Related Publications
The UK Productivity and Jobs Puzzle: Does the Answer Lie in Labour Market Flexibility?, Joao Paulo Pessoa and John Van Reenen, Centre for Economic Performance Special Paper No.31, June 2013

Related Links
Joao Paulo Pessoa webpage
John Van Reenen webpage
Productivity and Innovation webpage

News Posted: 26/07/2014      [Back to the Top]

The Financial Times

The slow lane: the cruel cost of the crisis

The true scale of the neglect of mental health in Britain is laid bare in Thrive, a remarkable and passionately argued new book by economics professor Lord Richard Layard and the clinical psychologist David Clark, which my colleague Martin Wolf wrote about earlier this month. ''While nearly everyone who is physically ill gets treatment,'' write Layard and Clark, ''two in three of those who are mentally ill do not.'' This sounds shocking enough but it is made more indefensible by the fact that effective and relatively inexpensive treatments exist. These are various kinds of therapy, including cognitive behavioural therapy - the favourite of Layard and Clark - and, in some cases, drugs.

This article was published in The Financial Times on July 25, 2014
Link to article here

Related Publications
Thrive: the Power of Evidence Based Psychological Therapies, Richard Layard and David M Clark, Penguin, July 2014
Details

Related Links
Richard Layard webpage
David Clark webpage
Wellbeing Programme webpage

News Posted: 25/07/2014      [Back to the Top]

Sky News (web)

Concern over mental health 'funding crisis'

Mental health is receiving just 10% of NHS spending across England, with some areas dedicating more like 6 percent of their budgets to it, Sky News can reveal. Charities say the figures ''paint a profoundly worrying picture'' and fly in the face of a Coalition promise to give mental health ''parity of esteem'' with physical health. They point to a London School of Economics (LSE) study that says the ''burden of disease'' of mental health is 23 percent.

The item was broadcast by Sky News on July 25, 2014
Link to news item here

Related Publications
Thrive: the Power of Evidence Based Psychological Therapies, Richard Layard and David M Clark, Penguin, July 2014
Details

Related Links
Richard Layard webpage
David Clark webpage
Wellbeing Programme webpage

News Posted: 25/07/2014      [Back to the Top]

Sott.net

Health providers in UK severely underfund mental health care despite high rates of mental illness

On average, local health authorities across England spent 10 percent of their annual budgets on mental health services during 2013/14, despite research from the London School of Economics that shows that it accounted for 23 percent of the burden of disease.

This article was published online by Sott.net on July 25, 2014
Link to article here

Related Publications
Thrive: the Power of Evidence Based Psychological Therapies, Richard Layard and David M Clark, Penguin, July 2014
Details

Related Links
Richard Layard webpage
David Clark webpage
Wellbeing Programme webpage

News Posted: 25/07/2014      [Back to the Top]

Yahoo! Argentina

Plan Terapia para Todos: la salud mental de los economistas y las series policiales de Film and Arts

''En los paises ricos, las enfermedades mentales son el 38 percent de todas las enfermedades; y el porcentaje trepa a 50 percent en la poblacion trabajadora'', dice Richard Layard, economista de la London School of Economics, que promueve en Inglaterra algo asi como un plan de Terapia para Todos. Layard cuenta, en un libro escrito junto al psicologo David Clark, que los costos de un programa a gran escala de terapias cognitivo-conductuales cortas - 16 sesiones - ''basadas en evidencia con resultados reales'' son mucho menores a los costos que implican las dolencias emocionales en terminos de dias no trabajados, desmotivacion, etcetera.

This article was published online by Yahoo! Argentina on July 25, 2014
Link to article here

See also
Yahoo! En Espanol
Yahoo! Colombia
La Nacion
Yahoo! Mexico

Related Publications
Thrive: the Power of Evidence Based Psychological Therapies, Richard Layard and David M Clark, Penguin, July 2014
Details

Related Links
Richard Layard webpage
David Clark webpage
Wellbeing Programme webpage

News Posted: 25/07/2014      [Back to the Top]

Russia Today

Mental health care severely underfunded

On average, local health authorities across England spent 10 percent of their annual budgets on mental health services during 2013/14, despite research from the London School of Economics that shows that it accounted for 23 percent of the burden of disease.

This article was published online by Russia Today on July 25, 2014
Link to article here

Related Publications
Thrive: the Power of Evidence Based Psychological Therapies, Richard Layard and David M Clark, Penguin, July 2014
Details

Related Links
Richard Layard webpage
David Clark webpage
Wellbeing Programme webpage

News Posted: 25/07/2014      [Back to the Top]

The Economist

Intellectual Property: Im-patent to innovate

The process of invention has long been a cumulative one, in which incremental advances are made on previous innovations. Cites CEP Discussion Paper No1205 (updated June 2014) by Alberto Galasso and Mark Schankerman on cumulative innovation.

This article was published in The Economist on July 25, 2014
Link to article here

Related publications
'Patents and Cumulative Innovation: Causal Evidence from the Courts', Alberto Galasso and Mark Schankerman, Centre for Economic Performance Discussion Paper No.1205, updated June 2014.

Related links
Mark Shankerman webpage
Productivity and Innovation Programme webpage

News Posted: 25/07/2014      [Back to the Top]

ENP Newswire

Jens Weidmann: Speech at the German-British Chamber of Industry and Commerce Annual Dinner 2014

Speech by Dr Jens Weidmann, President of the Deutsche Bundesbank, to the German-British Chamber of Commerce Annual Dinner 2014, London, 23 July 2014.

2. The benefits of European integration
And it seems that Britain, too, has gained. Half of its trade is with the European Union, and studies suggest that EU membership has boosted Britain's trade in goods with other EU countries by more than 50 percent. The Center for Economic Performance at the London School of Economics has found that the immediate benefits of increased trade amount to 1 1/4 percent to 3 percent of GDP. And if the longer-term effects of strengthened competition and increased productivity are taken into account as well, EU membership is estimated to have provided a boost of up to 10.5 percent of GDP.

This article was published online by ENP Newswire on July 24, 2014
Link to article here

Related publications
'The Costs and Benefits of Leaving the EU', Gianmarco Ottaviano, Joao Paulo Pessoa, Thomas Sampson and John Van Reenen, Centre for Economic Performance Technical Paper, May 2014
Download here
'Brexit or Fixit? The Trade and Welfare Effects of Leaving the European Union', Gianmarco Ottaviano, Joao Paulo Pessoa, Thomas Sampson and John Van Reenen, Centre for Economic Performance Policy Paper No.16, May 2014
Download here

Related links
Gianmarco Ottaviano webpage
Joao Paulo Pessoa webpage
Thomas Sampson webpage
John Van Reenen webpage
Globalisation Programme webpage
Productivity and Innovation Programme webpage

News Posted: 24/07/2014      [Back to the Top]

The Economist

More data, less gumption

THE Federal Reserve is ''the most transparent central bank to my knowledge in the world,'' claims its chairwoman, Janet Yellen. Transparency is a commonly prescribed remedy for all manner of governmental failings. But is it always beneficial?
Article cites Centre for Economic Performance Discussion Paper No.1276 (June 2014) by Michael McMahon and co-authors.

The article was published in The Economist on July 24, 2014
Link to article here

Related publications
'Transparency and Deliberation within the FOMC: A Computational Linguistics Approach', Stephen Hansen, Michael McMahon and Andrea Prat, Centre for Economic Performance Discussion Paper No.1276, June 2014

Related links
Michael McMahon webpage
Macro Programme webpage

News Posted: 24/07/2014      [Back to the Top]

Times Higher Education

Paying for the privileges: MBA student fees also fund research

In the UK, the Economic and Social Research Council does fund management and business research (such as the Centre for Economic Performance at the London School of Economics). In 2013-14, it funded two projects in this area, far fewer that in economics (six), sociology (thirteen) or psychology (26).

This article was published in the Times Higher Education on July 24, 2014
[No link available.]

Related links
Centre for Economic Performance Research Programmes webpage

News Posted: 24/07/2014      [Back to the Top]

Centre for Economic Performance Press Release

The 2014 EIB Prize for Excellence in Economic and Social Research awarded to the economists Nicholas Bloom and John Van Reenen

The EIB Institute announces that this year's 'Outstanding Contribution Award' - with a prize of EUR 40,000 - will go jointly to Professors Nicholas Bloom (Department of Economics, Stanford University) and John Van Reenen (Centre for Economic Performance and Department of Economics, London School of Economics and Political Science) in acknowledgement of the academic excellence, work published and impact on public policy of their research on this year's prize topic ''Innovation, Market Structure and Competitiveness''.

The press notice was released by the Centre for Economic Performance on July 22, 2014
Link to the press release here

Related links
Nicholas Bloom webpage
John Van Reenen webpage
Productivity and Innovation Programme webpage
Management Practices and Organisational Structures Research webpage

News Posted: 22/07/2014      [Back to the Top]

BBC Radio 4

News

Martin Knapp discusses cost of autism to the UK.

The interview was broadcast on BBC Radio 4 News on July 20, 2014
[No link available.]

Related links
Martin Knapp webpage
Wellbeing Programme webpage

News Posted: 20/07/2014      [Back to the Top]

This is local London

Town hall responds to omission of Highams Park from promo material

Highams Park was not mentioned in material promoting business in Waltham Forest on the advice of London School of Economics (LSE) research, the council has said. There has been outcry after the area, long recognised as a neighbourhood in its own right, was not included in a logo, magazine or website for the launch of the 'Waltham Forest London' campaign. Residents, councillors and business in the area claim it is the latest example of the town hall ignoring Highams Park, where many businesses have closed in recent years. A council spokeswoman said the areas of Leytonstone, Leyton, Chingford and Walthamstow were chosen on the advice of the LSE Growth Commission report commissioned to recommend how the borough could raise its profile and attract inward investment.

This article was published online by This is Local London on July 20, 2014
Link to article here

Related links
Francesco Caselli webpage
Christopher Pissarides webpage
John Van Reenen webpage
LSE Growth Commission website

News Posted: 20/07/2014      [Back to the Top]

The Economist

Bridges to somewhere

An assumption underpinning China's investment policy is that connecting the hinterland to transport should support its development. But the construction of an early phase of China's national trunk highway system - 35,000km of highways, built from 1992 to 2007 at a cost of $120 billion - suggests that is not always the case. In a new article, Benjamin Faber of the University of California, Berkeley, finds that GDP growth was reduced by about 18 percent over time in smaller counties that were connected to the highway system relative to ones that were not. Industrial output shrank when goods streamed in from more advanced areas, displacing local products. In other words, better infrastructure sometimes saps, rather than invigorates, poorer regions.

This article was published by The Economist - Free Exchange on July 19, 2014
Link to article here

Related publications
'Trade Integration, Market Size and Industrialization: Evidence from China's National Trunk Highway System', Benjamin Faber, Centre for Economic Performance Discussion Paper No.1244, October 2013

Related links
Benjamin Faber webpage
Globalisation Programme webpage

News Posted: 19/07/2014      [Back to the Top]

Salon

Why our brains love the ocean: Science explains what draws humans to the sea

In the twenty-first century, however, the pursuit of happiness has become one of the most important means of judging our quality of life. ''Happiness is an aspiration of every human being,'' write John F. Helliwell, Richard Layard, and Jeffrey D. Sachs in the United Nations' World Happiness Report 2013, which ranks 156 countries by the level of happiness of their citizens. It's a vital goal: ''People who are emotionally happier, who have more satisfying lives, and who live in happier communities, are more likely both now and later to be healthy, productive, and socially connected. These benefits in turn flow more broadly to their families, workplaces, and communities, to the advantage of all.''

This article was published online by Salon on July 19, 2014
Link to article here

Related Publications
'World Happiness Report 2013', John F. Helliwell, Richard Layard and Jeffrey D. Sachs (Eds), 2nd Report from the Earth Institute, Columbia University, September 2013 Details

Related Links
Richard Layard webpage
Wellbeing Programme webpage
Happiness Research webpage

News Posted: 19/07/2014      [Back to the Top]

El Pais

Lecturas de verano: el nuevo regeneracionismo

Article by Jesus Fernandez-Villaverde and Luis Garicano
Summer reading: the new regeneration
Our normally apathetic civil society mobilizes periodically to demand institutional changes that bring us closer to Europe (we do not speak here of those who seek to emulate our cousins ruined Venezuelans). One of the few good things about the brutal economic crisis has been the revival of these desires in a new regeneration. The members of this movement, each with its own nuances, share a common idea: to regenerate our nation to build a more democratic, more modern, more prosperous and more just Spain. Unlike previous movements, new regeneracionistas enjoy a new tool, the Internet, which allows them to reach many Spanish and hope to not end up like his predecessors.

This article was published by El Pais on July 19, 2014
Link to article here

Related links
Luis Garicano webpage
Productivity and Innovation Programme webpage

News Posted: 19/07/2014      [Back to the Top]

SmartWeek

L'Ultimo Pezzo del Puzzle per una 'Crescita Sana', I Costi Nulli della Terapia Psicologica

Stavolta il pezzo mancante non sembra tuttavia nascondersi sotto il divano - come nelle piu consuete scenette ricreative familiari - ma trovarsi tra le pagine di Thrive: The Power of Evidence-Based Psychological Therapies, libro redatto a quattro mani da Richard Layard, professore emerito di Economia alla London School of Economics e fondatore del Centre for Economic Performance e David M. Clark, professore di psicologia a Oxford.
The last piece of the Puzzle for a ''healthy growth'', zero costs of Psychological Therapy
This time the missing piece however does not seem to be hiding under the couch - as in most popular recreational family skits - but between the pages of Thrive: The Power of Evidence-Based Psychological Therapies, book written for four hands by Richard Layard, Professor Emeritus of Economics at the London School of Economics and founder of the Centre for Economic Performance with a Professor of psychology at Oxford, David m. Clark.

The article was published online by SmartWeek on July 18, 2014
Link to article here

Related Publications
Thrive: the Power of Evidence Based Psychological Therapies, Richard Layard and David M Clark, Penguin, July 2014
Details

Related Links
Richard Layard webpage
David Clark webpage
Wellbeing Programme webpage

News Posted: 18/07/2014      [Back to the Top]

Ely Standard

Campaigners say thousands will be wiped off of property prices if turbine plans go ahead in Haddenham

Campaigners fighting against plans to erect three wind turbines in Haddenham say thousands of pounds could be wiped off the value of every home in the village if the scheme goes ahead. The Stop Berry Fen Wind Farm group cite a report published in the spring by Professor Stephen Gibbons, of the London School of Economics, which covered more than a million homes in close proximity to large wind farms over a 12-year period.

This article was published by the Ely Standard on July 18, 2014
Link to article here

Related publications
'Gone with the Wind: Valuing the Visual Impacts of Wind Turbines through House Prices', Stephen Gibbons, SERC Discussion Paper No.159, April 2014

Related links
Stephen Gibbons webpage
SERC website

News Posted: 18/07/2014      [Back to the Top]

Financial Times

Autism also deserves attention

Letter page
Sir, In his very timely commentary, Martin Wolf addressed the increasingly urgent issue of personal misery and its social impact caused by our failure to treat depression and crippling anxiety, now affecting one in six adults (''Mental illness is our most pressing health problem'', July 11). ... In short, the human impact is enormous and not understood. Conversely the economic impact of autism is better understood, estimated in a London School of Economics 2009 report at £27bn per annum.

This article was published by the Financial Times on July 18, 2014
Link to article here

Related Links
Martin Knapp webpage
Wellbeing webpage

News Posted: 18/07/2014      [Back to the Top]

Vox

Why more psychological therapy would cost nothing

Article by David M. Clark and Richard Layard
Mental illness is the main sickness of the working age population with economic costs around 8% of GDP. This column, based on the authors' recent book, discusses the effectiveness of a large programme of psychological therapy, launched in England in 2008. The savings due to welfare benefits, extra taxes, and physical healthcare outweigh the costs of the programme. In this case, psychological therapy costs nothing.

This article was published online by Vox on July 17, 2014
Link to article here

Related Publications
Thrive: the Power of Evidence Based Psychological Therapies, Richard Layard and David M Clark, Penguin, July 2014

Related Links
Richard Layard webpage
David Clark webpage
Wellbeing Programme webpage

News Posted: 17/07/2014      [Back to the Top]

What Works Centre for Local Economic Growth – blog

If you build it will they come?

Article by Henry Overman
Our latest evidence review on the economic impact of cultural and sport projects might make for uncomfortable reading for some local decision makers. We looked at these programmes' effects on wages and employment and found that these tended to be small and more likely zero. How might we reconcile this with reports that tend to suggest large benefits for the local economy?

This blog post was uploaded to the What Works Centre for Local Economic Growth blog on July 16, 2014
Link to blog here

Related links
Henry Overman webpage
SERC website
Henry Overman CEP publications webpage

News Posted: 16/07/2014      [Back to the Top]

The Wall Street Journal

Here's another way to look at youth unemployment in Europe

What's the best way to measure Europe's youth unemployment problem? ''Long-term unemployment and youth unemployment are the two [issues] that need more targeting, but we should especially try to avoid the combination of both'', says Christopher Pissarides, professor at London School of Economics and Nobel Price laureate.

This article was published by The Wall Street Journal on July 16, 2014
Link to article here

Related links
Christopher Pissarides webpage
Macro Programme webpage

News Posted: 16/07/2014      [Back to the Top]

Financial Times

Target the planning laws not the one per cent

Only 10 per cent of the value of land in expensive cities is due to its natural scarcity. The rest is planning restrictions. Paul Cheshire and Christian Hilber at the London School of Economics applied the same trick to British and European offices in 2006, with terrifying results.

This article was published by the Financial Times on July 16, 2014
Link to article here

Related publications
The cost of regulatory constraints on the British office market, Christian A. L. Hilber and Paul Cheshire. Report for the H.M. Treasury in preparation of ‘Barker Review 2’, (2006) H.M. Treasury, London, UK.
Office Space Supply Restrictions in Britain: The Political Economy of Market Revenge, Paul Cheshire and Christian A. L. Hilber, The Economic Journal, 118 (June, 2008).

Related links
Paul Cheshire webpage
Christian Hilber webpage
SERC website

News Posted: 16/07/2014      [Back to the Top]

LSE You Tube video

Thrive: the power of evidence-based psychological therapies

Film of the July 10 book launch for Thrive: the power of evidence-based psychological therapies. David Clark, Richard Layard in conversation with the BBC's Andrew Marr.

The video was posted online to the LSE You Tube channel on July 16, 2014
Link to video here

Related Publications
Thrive: the Power of Evidence Based Psychological Therapies, Richard Layard and David M Clark, Penguin, July 2014

Related Links
Richard Layard webpage
David Clark webpage
Wellbeing Programme webpage

News Posted: 16/07/2014      [Back to the Top]

BBC Four

World News Today

Richard Layard interviewed, speaking about the issues highlighted in new book Thrive, around the need for better treatment of mental health and providing psychological therapies more widely.

This interview was broadcast by BBC Four World News Today at 7pm on July 15, 2014
Link to broadcast here. [The interview starts at 16:50.]


Related Publications
Thrive: the Power of Evidence Based Psychological Therapies, Richard Layard and David M Clark, Penguin, July 2014

Related Links
Richard Layard webpage
David Clark webpage
Wellbeing Programme webpage

News Posted: 15/07/2014      [Back to the Top]

libcom.org

Authoritarianism, work and therapy

Yesterday the Independent featured an interview with British economist Richard Layard. The article's headline features Layard proclaiming ''that money is not the only thing affecting peoples happiness''. Layard has written two books in which he claims that not enough is done for the mental wellbeing of citizens despite the massive costs to the economy. Layard is one of the champions of the happiness index that David Cameron has previously voiced support for.

This article was posted online by libcom.org on July 14, 2014
Link to article here

Related links
Richard Layard webpage
Happiness and Public Policy research webpage
Wellbeing Programme webpage

News Posted: 14/07/2014      [Back to the Top]

The British Psychological Society

Lord Layard praises work of David Clark

''I've been hugely influenced by my co-author David Clark, one of the world's leading clinical psychologists. He always stressed to me that the aim of therapy is not to help people manage their condition but to recover and be free of it. This is a very important and different way of thinking which these therapies have brought to the situation.''

This article was published online by The British Psychological Society on July 14, 2014
Link to article here

Related Publications
Thrive: the Power of Evidence Based Psychological Therapies, Richard Layard and David M Clark, Penguin, July 2014

Related Links
Richard Layard webpage
David Clark webpage
Wellbeing Programme webpage

News Posted: 14/07/2014      [Back to the Top]

The Independent

Richard Layard: 'Money is not the only thing affecting people's happiness'

The Chris Blackhurst Interview: With one in six adults in the UK suffering from mental illness, Professor Lord Richard Layard is convinced it's time for a serious response from Government - which would save the NHS money too.
How could we become a happier nation? One pioneering economist has spent the best part of a decade arguing that we simply must find an answer to this question - gaining the support of David Cameron, who backed the notion of happiness as ''the new GDP''. That economist won't let it drop. He wants to reignite the whole debate and go further still. This is why the shocking facts come thick and fast in Professor Lord Richard Layard's new book, and in conversation when we meet.

This article was published in The Independent on Sunday 13 July, 2014
Link to article here

Related Publications
Thrive: the Power of Evidence Based Psychological Therapies, Richard Layard, David M Clark, Penguin, July 2014
Further details here

Related Links
Richard Layard webpage
David Clark webpage
Wellbeing Programme webpage

News Posted: 13/07/2014      [Back to the Top]

VB News

Study: Patents hurt tech and startups, help pharmaceuticals

A new study adds some empirical firepower to the idea that poor patent laws are crushing innovation in the technology industry. Researchers from the London School of Economics studied citations from patents that were invalidated by U.S. judges and found that invalidation increased the number of subsequent innovations in technology, but not in pharmaceuticals.

This article was published online by VB.com on July 12, 2014
Link to article here

See also:
FiveThirtyEight - DataLab
In the Papers: Long-Term Unemployment, Education and Marriage, and Patent Trolls
Pharmaceutical Industry Today
Study: Patents hurt tech and startups, help pharmaceuticals
All Voices
Study: Patents hurt tech and startups, help pharmaceuticals
MedCity News
Study: Patent law is good for big pharma because it has no innovators

Related publications
'Patents and Cumulative Innovation: Causal Evidence from the Courts', Alberto Galasso and Mark Schankerman, Centre for Economic Performance Discussion Paper No.1205, April 2013

Related links
Mark Schankerman webpage
Productivity and Innovation Programme webpage

News Posted: 12/07/2014      [Back to the Top]

The Age (Australia)

Minimum wage rises don't lift unemployment, analysts agree

And over the past 20 years, academic economists have done many empirical studies showing that's not how minimum wages work in practice. They've also developed more sophisticated theories that better fit the empirical facts. It's all explained in the June issue of the ACTU's Economic Bulletin. ... Monopsonistic models don't have an unambiguous prediction for the employment effect of a minimum wage. A paper by Bhaskar, Manning and To, published in the 'Journal of Economic Perspectives' in 2002, concluded that ''a minimum wage set moderately above the market wage may have a positive effect or a negative effect on employment, but the size of this effect will generally be small''.

This article was published online by The Age (Australia) on July 11, 2014
Link to article here

Related publications
Monopsony in Motion: Imperfect Competition in Labor Markets (2005) Alan Manning, Princeton University Press
Details

Related links
Alan Manning webpage
Labour Markets Programme webpage
Community Programme webpage

News Posted: 11/07/2014      [Back to the Top]

BBC Radio Bristol

News

Presenter quotes an earlier appearance by Paul Cheshire on the BBC's 'Sunday Politics Show' discussing the use of the green belt for new housing sites.

This mention was on the BBC Radio Bristol News on July 11, 2014
[No link available]

Related publications
Turning houses into gold: the failure of British planning, Paul Cheshire. Article in CentrePiece Volume 19, Issue 1, Spring 2014
Turning houses into gold: the failure of British planning, Paul Cheshire. LSE British Politics and Policy blog, posted May 7, 2014.

Related links
Paul Cheshire webpage
Spatial Economics Research Centre (SERC) website

News Posted: 11/07/2014      [Back to the Top]

The Huffington Post (UK) - the Blog

Are the treatments costly?

Article by Richard Layard and David M. Clark, 3rd instalment in a series of excerpts from 'Thrive'
A standard course of cognitive behavioural therapy involves up to 16 one-hour sessions, one-on-one - with the average number of sessions nearer to ten. The total cost is about £1,000 (or $2,000). With a 50 percent success rate for a serious condition, this is good value for money. And that is why it is recommended for almost all mental health conditions in the official guidelines for the British National Health Service. But actually the economics is even better than that. There are some striking lessons here for those who finance the healthcare system. It turns out that mental health has a huge effect on physical health, and thus on healthcare costs.

This article was published online by The Huffington Post (UK) Blog on July 11, 2014
Link to article here

Related Publications
Thrive: the Power of Evidence Based Psychological Therapies, Richard Layard and David M Clark, Penguin, July 2014

Related Links
Richard Layard webpage
David Clark webpage
Wellbeing Programme webpage

News Posted: 11/07/2014      [Back to the Top]

Policy Network

The right partnership between government and the dynamic and creative potential of private enterprise is needed to deliver on an inclusive growth agenda

Article by Tim Besley and John Van Reenen
In 2013 the LSE Growth Commission published a report into future UK growth. The aim of the Commission was to identify institutions and policies that could generate more growth in an inclusive way, guaranteeing that the fruits of future prosperity are widely shared. The report recommended that progress should be measured beyond GDP per head, especially by median household income.

This article was published online by the Policy Network on July 10, 2014
Link to article here

Related publications
Investing for Prosperity: Skills, Infrastructure and Innovation, Report of the LSE Growth Commission in partnership with the Institute for Government, Philippe Aghion, Tim Besley, John Browne, Francesco Caselli, Richard Lambert, Rachel Lomax, Chris Pissarides, Nick Stern and John Van Reenen, 31 January 2013
Investing for Prosperity: A Manifesto for Growth, Tim Besley and John Van Reenen (Eds), LSE Academic Publishing, London Publishing Partnership, September 2013
Book details here

Related links
John Van Reenen webpage
Productivity and Innovation Programme webpage
LSE Growth Commission webpage

News Posted: 10/07/2014      [Back to the Top]

LSE British Politics and Policy Blog

Five minutes with Richard Layard: 'Mental illness is the biggest single cause of misery in our society'

In an interview with Joel Suss, editor of the British Politics and Policy blog, Richard Layard discusses the importance of combating mental illness and his new book, Thrive: The Power of Evidence-Based Psychological Therapies, which he co-authored with David Clark. Both authors will be presenting the findings and arguments of their new book tonight at a public event at the LSE with Andrew Marr.

This article was published online by the LSE British Politics and Policy Blog on July 10, 2014
Link to blog post here

Related Publications
Thrive: the Power of Evidence Based Psychological Therapies, Richard Layard and David M Clark, Penguin, July 2014

Related Links
Richard Layard webpage
David Clark webpage
Wellbeing Programme webpage

News Posted: 10/07/2014      [Back to the Top]

Financial Times

Mental illness is our most pressing health problem

Depression and anxiety cause more misery than physical illness, poverty or unemployment. They also impose huge economic costs. Yet they are amenable to effective and relatively cheap treatments. In the UK, however, fewer than a third of adult sufferers are treated, compared with 90 per cent of those with diabetes. Only a quarter of children with these mental illnesses receive effective treatment. This undertreatment is unjust and hugely inefficient. It is largely due to continued prejudice and a lack of awareness of the existence of effective treatments. This terrible failure must end now. This, in sum, is the argument of a compelling new book, Thrive: The Power of Evidence-Based Psychological Therapies, by Professor Richard Layard of the London School of Economics and Professor David Clark of Oxford.

This article was published by the Financial Times on July 10, 2014
Link to article here

Also in
Pulso
Los costos de las enfermedades mentales

Related Publications
Thrive: the Power of Evidence Based Psychological Therapies, Richard Layard and David M Clark, Penguin, July 2014

Related Links
Richard Layard webpage
David Clark webpage
Wellbeing Programme webpage

News Posted: 10/07/2014      [Back to the Top]

The Telegraph

Does Germany rule your world?

This article was first published on January 28, 2013 and has been republished after Germany beat Brazil 7-1 in the World Cup semi-final
Second, it is the view of most economists that Germany has been the biggest winner out the euro, and that being part of the euro - rather than keeping its old currency the Deutschmark - has been an enormous advantage. When it joined, the exchange rate was set at EURO 1 = DM1.96, which most people at the time thought was a fair rate. But it is estimated by the European Commission itself that since then, Germany's real exchange rate has fallen by nearly 20 per cent. In other words, if Germany had kept the Deutschmark, the value of its goods would have been 20 per cent more expensive to any potential customer. Being part of the shared euro, kept weak by struggling neighbours, has helped it drag down the cost of its goods. As a result, German cars, kettles and shoelaces suddenly became far cheaper to buy. This argument has long been pushed by Nobel prize-winning economist Paul Krugman, no less, who has emerged one of the chief Germany-bashers. But a number of other Nobel prize-winning economists, such as Joseph Stiglitz and Christopher Pissarides, have recently joined him in voicing criticisms of the inherent problems of a powerful northern Europe, led by Germany, and a weak southern Europe all using the same currency. Germany, they say, urgently has to readdress its serious imbalances. The most obvious method would be to make its goods more expensive, by pushing up its workers' wages.

This article was published online by The Telegraph on July 9, 2014
Link to article here

Related links
Christopher Pissarides webpage
Macro Programme webpage

News Posted: 09/07/2014      [Back to the Top]

PressTV

Mentally ill hounded in Britain

Once upon a time, David Cameron said that general wellbeing matters as much GDP. What's it all for if a country grows richer but its people feel no better? A genuine attempt at prioritizing wellbeing would be revolutionary, because the happiest people live in more equal societies, are less ridden by anxiety, enjoy good employment, are well housed and more trusting. Yet in Britain all those fundamentals indices of wellbeing are in retreat. Professors Richard Layard, an economist, and David Clark, a clinical psychologist, ratchet up their campaign for better mental treatment with their new book, Thrive. These champions of cognitive behavioral therapy have done more to turn mental health into practical politics than anyone before, though progress is slow.

This article was published online by PressTV on July 9, 2014
Link to article here

Related Publications
Thrive: the Power of Evidence Based Psychological Therapies, Richard Layard, David M Clark, Penguin, July 2014
Further details here

Related Links
Richard Layard webpage
David Clark webpage
Wellbeing Programme webpage

News Posted: 09/07/2014      [Back to the Top]

The Australian

Everything's looking rosy, but it pays to watch for an X-factor

Low volatility doesn't cause markets to turn down; but it leaves them vulnerable to unexpected bad news. Nicholas Bloom, professor of finance at Stanford University puts it well: ''The fact that volatility is well below its long-run average right now suggests that there is not much downside risk and a lot of upside risk for volatility''.

This article was published online by The Australian on July 8, 2014
Link to article here

Related links
Nicholas Bloom webpage
Productivity and Innovation Programme webpage

News Posted: 08/07/2014      [Back to the Top]

Vox

Macroprudential policy: A survey of UK-based macroeconomists

Article by Francesco Caselli, Angus Armstrong, Jaghit Chadha and Wouter den Haan
How should UK policy-makers respond to potential dangers to the economy from the housing market? As this column reports, a majority of respondents think that house price dynamics do pose a risk to the UK's recovery; and that macroprudential tools rather than traditional interest rate policy should be deployed to deal with this risk.

This article was published online by Vox on July 8, 2014
Link to article here

Related links
Francesco Caselli webpage
Macro Programme webpage
Francesco Caselli CEP publications webpage

News Posted: 08/07/2014      [Back to the Top]

Corriere della Sera

In Italia il lavoro paga di più, ma la differenza con gli uomini aumenterà (translate)

...di due ricercatrici di origine italiana che lavorano all'estero, Barbara Petrongolo (London School of Economics) e Claudia Olivetti (Boston University). Sulla stessa lunghezza d'onda anche Daniela...
In Italy, the job pays more, but the difference with men increase
Not only that, by analyzing the data that experts call ''raw'', it turns out that the pay gap in Italy, rather than diminished with the passing of years increases. In the tables, Eurostat was 4.9 per cent in 2008, then rose in 2009 (5.5 per cent) and in the following years up to 6.7 per cent in 2014. Risk that the worst situation analysis is Roberta Zizza in line with the work of two researchers of Italian origin working overseas, Barbara Petrongolo (London School of Economics) and Claudia Olivetti (Boston University).

This article was published by Corriere della Sera (Italy) on July 8, 2014
Link to article here

Related publications
'Gender Gaps Across Countries and Skills: Supply, Demand and the Industry Structure', Claudia Olivetti and Barbara Petrongolo, Centre for Economic Performance Discussion Paper No.1093, November 2011
'Unequal Pay or Unequal employment? A Cross-Country Analysis of Gender Gaps', Claudia Olivetti and Barbara Petrongolo, Centre for Economic Performance Discussion Paper No.711, December 2005


Related links
Barbara Petrongolo webpage
Labour Markets Programme webpage

News Posted: 08/07/2014      [Back to the Top]

Dagen

Debattinnlegget er skrevet av Kåre Eriksen, kommunikasjonsrådgiver i Digni

Men det finnes grenser. Professor Richard Layard ved London School of Economics har funnet ut at tilfredshet og lykke stiger dramatisk med okt kjopekraft - inntil man nar en arsinntekt pa rundt 20.000 dollar, eller rundt 120.000 kroner. Etter dette gir ikke okte inntekter saerlig utslag pa lykkeskalaen.
But there are limits. Professor Richard Layard at the London School of Economics has found that contentment and happiness rises dramatically with increased purchasing power-until one reaches an annual income of around 20,000 dollars, or around 120,000 dollars. After this, it does not provide any increased revenues, in particular, reflected on the happiness index.

This article was published online by Dagen on July 7, 2014
Link to article here

Related Publications
Happiness: Lessons from a New Science, Richard Layard, Penguin, 2nd Edition, 2011
Details

Related Links
Richard Layard webpage
Wellbeing Programme webpage

News Posted: 07/07/2014      [Back to the Top]

The Stoke Sentinel

Tristram Hunt: 'Financial cuts to NHS have had a severe impact on mental health treatment'

Ultimately the biggest task remains ensuring our creaking health service is more responsive to the needs of mental health outpatients. And here there may be cause for cautious optimism. Because new research by Professors Richard Layard and David Clark, from the London School of Economics, has suggested that treating mental health through the most effective cognitive behaviour therapies could bring about enormous savings to the public purse when compared to some existing treatments, such as medication. And the knock-on boost to the economy through better health could be enormous.

This article was published in The Stoke Sentinel on July 7, 2014
Link to article here

Related Publications
Thrive: the Power of Evidence Based Psychological Therapies, Richard Layard and David M Clark, Penguin, July 2014
Details

Related Links
Richard Layard webpage
David Clark webpage
Wellbeing Programme webpage

News Posted: 07/07/2014      [Back to the Top]

HRMAsia

Beating the blues

''According to the World Health Organisation, depression has become the leading cause of disability worldwide and has significant economic consequences,'' said LSE's Professor Martin Knapp. ''Despite a lot of publicity surrounding mental illness, it is worrying to see that there is still a major stigma associated with depression and many employers are not dealing with it adequately.''

This article was published by HRM Asia online on July 7, 2014
Link to article here

Related publications
Importance of social and cultural factors for attitudes, disclosure and time off work for depression: findings from a seven country European study on depression in the workplace, Martin Knapp and Sara Evans-Lacko, March 2014, PLOS ONE.

Related links
Martin Knapp webpage
Wellbeing Programme webpage


News Posted: 07/07/2014      [Back to the Top]

The Sunday Express

'Use green belt to fix housing land shortage'

The Government's Help to Buy scheme was also helping first time buyers move into the market, she added but Prof. Cheshire rejected the measures as ''putting fingers in dykes''. ''The help to buy scheme is simply a recipe for increasing house prices. It has no other effect because supply is so inelastic,'' he said. ''The crisis in our housing market is absolutely and undeniably about lack of supply. The most important single factor to this is the planning system and the restriction on development for 60 years. There is no alternative but to reconsider greenbelt land. We have to increase supply of housing land and that cannot be done on brownfield sites alone because there is surprisingly few of them and they are not in the right places were the demand for housing is.''

This article was published in The Sunday Express on July 6, 2014
Link to article here

Related publications
Turning houses into gold: the failure of British planning, Paul Cheshire. Article in CentrePiece Volume 19, Issue 1, Spring 2014.
Turning houses into gold: the failure of British planning, Paul Cheshire. LSE British Politics and Policy blog, posted May 7, 2014.

Related links
Paul Cheshire webpage
Spatial Economics Research Centre (SERC) website


News Posted: 06/07/2014      [Back to the Top]

Hispanic Business.com

United Kingdom: Deputy Prime Minister announces Northern Futures project

The Northern Futures project is a new approach to policymaking which means that rather than decisions being made by politicians and civil servants in Whitehall, the power is given to the people who live and work there. ... The call for ideas is open to people from all walks of life - businesses, civic leaders, experts in housing, transport and science, academics, students. The following people are already on board: Tom Riordan, Leeds City Council, John Mothersole, Sheffield City Council, Sir Richard Lease and Sir Howard Bernstein, Manchester City Council, Alexandra Jones, Centre for Cities, Hakim Yadi, Northern Health Sciences Alliance, Tom Bloxham MBE, Urban Splash, Henry Overman, London School of Economics, Jim O'Neill, RSA City Growth Commission, Julia Unwin, Joseph Rowntree Foundation.

This article was published by Hispanicbusiness.com on July 4, 2014
Link to article here

Related links
Henry Overman webpage
SERC website
Globalisation Programme webpage
Henry Overman CEP publications webpage

News Posted: 04/07/2014      [Back to the Top]

The Independent (web)

Legalising cannabis has been a success in Colorado, so why not the UK?

Another report, published by the London School of Economics and backed by Nick Clegg, stated that our strategy for dealing with drugs ''can no longer be justified''. It's not just statistics that point towards the need for change.

This article was published online by The Independent on July 4, 2014 Link to article here

Related links
Ending the Drug Wars, Report of the LSE Expert Group on the Economics of Drug Policy, May 2014
Christopher Pissarides webpage
Macro Programme webpage

News Posted: 04/07/2014      [Back to the Top]

Guardian

Lord Victor Adebowale reviews the week's healthcare news

If there is one area of the NHS in desperate need of change, it is mental healthcare provision. Professors Richard Layard and David Clark highlight in Thrive: The Power of Evidence-Based Psychological Therapies that it is a false economy when people in need of help do not get treatment. Billed as ''the dream team'' of British social science, they urged MPs this week to double the provision of psychological therapy on the NHS.

This article was published in guardian.com on July 4, 2014
Link to article here

Related Publications
Thrive: the Power of Evidence Based Psychological Therapies, Richard Layard, David M Clark, Penguin, July 2014
Book details here

Related Links
Richard Layard webpage
David Clark webpage
Wellbeing Programme webpage

News Posted: 04/07/2014      [Back to the Top]

David Nicholsons Blob

Ambitious about autism employment summit speech 3rd of July 2014

According to research from the London School of Economics published in June of this year in the Journal of American Medical Association of Paediatrics the cost of autism to the UK economy is £32 billion.

This article was published online in the David Nicholsons Blog on July 3, 2014
Link to blog piece here

Related Links
Martin Knapp webpage
Wellbeing webpage

News Posted: 03/07/2014      [Back to the Top]

Centre for Mental Health blog

Mental health care for all stages of life must be improved for all to thrive

This week, a new book by Lord Layard and Professor David Clark sets out a call for a transformation in the way we think about mental health and the priority mental health care is given. Thrive: the power of evidence-based psychological therapies, argues that mental ill health causes far greater suffering than has ever been realised by policymakers and that through investment in cost-effective interventions much of that distress can be prevented or treated successfully.

This article was published online by the Centre for Mental Health blog on July 2, 2014
Link to article here

Related Publications
Thrive: the Power of Evidence Based Psychological Therapies, Richard Layard, David M Clark, Penguin, July 2014
Further details here

Related Links
Richard Layard webpage
David Clark webpage
Wellbeing Programme webpage

News Posted: 02/07/2014      [Back to the Top]

Cornish Guardian

Complaint about turbine booklet

A wind farm developer has agreed to stop distributing a booklet which was given to residents in the parish of St Enoder after a complaint was made to the Advertising Standard Authority (ASA). The complaint to ASA argued whether a claim in the booklet that the impact of turbines on house prices diminishes as time goes on was misleading, and whether it could be substantiated. The claims were made despite the publication of a nationwide study in January by the London School of Economics (LSE), which reviewed more than a million homes located near large wind farms over a 12-year period, and found property values fell by 11 per cent.

This article was published in the Cornish Guardian on July 2, 2014
Link to article here

Related publications
'Gone with the Wind: Valuing the Visual Impacts of Wind Turbines through House Prices', Stephen Gibbons, SERC Discussion Paper No.159, April 2014

Related Links
Steve Gibbons webpage
SERC website

News Posted: 02/07/2014      [Back to the Top]

SERC Book Published

Urban Economics and Urban Policy

Urban Economics and Urban Policy

A new book by Paul Cheshire, Max Nathan and Henry Overman

Endorsements:

'A tour de force' Michael Storper, LSE

'Bold, exciting and eminently readable' Ed Glaeser, Harvard

In many countries across the world, cities are experiencing an economic and social resurgence. But this resurgence hides profoundly uneven development, and spatial disparities have proved resistant to policymakers' attempts to reduce them. Urban Economics and Urban Policy sets out the insights that recent economic research brings to our understanding of cities, and the lessons for urban policymaking. The book helps explain why economic development has emerged so unevenly across space, and why these patterns tend to persist. The authors argue that future urban policies need to take better account of the economic forces that drive unevenness, and that their success should be judged by their impact on people, not places.

The book draws on the growing global body of literature on spatial economics and economic geography, and in particular the urban research programmes at SERC and LSE. It should prove to be an invaluable resource and a rewarding read for academics, practitioners and policymakers interested in the economics of urban policy, urban planning and development, as well as international studies and innovation.

To download the first chapter or to order the full book online, please visit the following SERC publications page.



News Posted: 01/07/2014      [Back to the Top]

The Guardian

Mental illness treatment needs massive investment. The case is overwhelming

Article by Richard Layard
Nearly 40 percent of all illness in this country is mental illness, but most of it is untreated. It is the greatest injustice in our society and every party's manifesto needs a plan to redress it. The good news is that both depression and chronic anxiety conditions are highly treatable by modern evidence-based psychological therapies such as cognitive behavioural therapy (CBT). Half of the people treated recover fully, and many others improve substantially.

This article was published by the Guardian on July 1, 2014
Link to article here

Related publications
Thrive: the Power of Evidence Based Psychological Therapies Richard Layard and David M Clark, Penguin, July 2014

Related Links
Richard Layard webpage
David Clark webpage
Wellbeing Programme webpage

News Posted: 01/07/2014      [Back to the Top]

Antena 3

En Espana debemos evitar las duplicidades administrativas

Luis Garicano interviewed regarding Spanish finance system.

This programme was broadcast by Antena 3 on July 1, 2014
Link to broadcast here

Related links
Luis Garicano webpage
Productivity and Innovation Programme webpage

News Posted: 01/07/2014      [Back to the Top]

Conversation UK

Drop the negative spin on kids who start school bilingual - they are a rich resource for the future

There are now more than 1.1 million children in our schools whose first language ''is known or believed to be other than English'' according to the latest government figures. ... Chinese students are our highest performing group and the presence of so many Polish students has helped improve the position of many of our Catholic schools in the league tables, as shown by a study carried out by the LSE in 2012.

This article was published online by the Conversation on July 1, 2014
Link to article here

Also in
Thursday 3 July
Epoch Times
Drop the negative spin on kids who start school bilingual - they are a rich resource for the future

Related publications
CentrePiece Magazine Article In brief: Language barriers? The impact of non-native English speakers in the classroom, Charlotte Geay, Sandra McNally and Shqiponja Telhaj. Article in CentrePiece Volume 17, Issue 1, Spring 2012
'Non-Native Speakers of English in the Classroom: What are the Effects on Pupil Performance?', Charlotte Geay, Sandra McNally and Shqiponja Telhaj, Centre for the Economics of Education Discussion Paper No.137, March 2012

Related links
Sandra McNally webpage
Shqiponja Telhaj webpage
Education and Skills Programme webpage
Centre for the Economics of Education website

News Posted: 01/07/2014      [Back to the Top]

BBC Radio 4

Today Programme

David Clark was interviewed, discussing pscyhcological treatments for depression and anxiety.

The interview was broadcast on BBC Radio 4's Today programme on July 1, 2014
Link to programme here [Starts at 2:46:30]

Related Publications
Thrive: the Power of Evidence Based Psychological Therapies Richard Layard and David M Clark, Penguin, July 2014

Related Links
Richard Layard webpage
David Clark webpage
Wellbeing Programme webpage

News Posted: 01/07/2014      [Back to the Top]

Huffington Post - The Blog

'What's the problem?'

Article by Richard Layard and David M. Clark
Treating mental health problems produces extraordinary savings - fewer people on welfare benefits, and fewer people being treated for physical illnesses made worse by mental illness. So on any reasonable estimates the treatments pay for themselves. They cost society nothing. And yet they are provided to under a third of those who need them. That is a great injustice and a gross inefficiency. And it is the main reason we have written this book - the pain of untreated mental health problems, and the fact that they can be treated at little or no cost. ... the second reason we have written this book: the huge social cost of mental illness.

This article was published online in The Huffington Post - The Blog on July 1, 2014
Link to article here

Related Publications
Thrive: the Power of Evidence Based Psychological Therapies Richard Layard and David M Clark, Penguin, July 2014

Related Links
Richard Layard webpage
David Clark webpage
Wellbeing Programme webpage

News Posted: 01/07/2014      [Back to the Top]

Vox

Minimum prices for alcohol should work

Article by Joan Costa-i-Font
Setting a binding minimum alcohol price raises prices, which should lower consumption. The consumption responsiveness - i.e. the elasticity of demand - is not the same for all groups. In particular, younger adults tend to be more price-sensitive. Evidence suggests that raising alcohol prices can be an effective intervention to reduce access of the younger populations (Anderson and Baumberg 2006). However, for this sort of policy to make a difference, and to avoid the 'law of unintended consequences', one needs to identify the target group and consider substitutes. For example, it would be important to prevent a shift by youngsters to lower quality alcohol. This suggests a minimum price across the board - applying the policy to every type of alcohol - if one is to discourage substitution and hence achieve lower consumption by younger people.

This article was published online by Vox on June 30, 2014
Link to article here

Related Links
Joan Costa-i-Font webpage
Wellbeing Programme webpage

News Posted: 30/06/2014      [Back to the Top]

Social Europe Journal

The great British jobs and productivity mystery by João Paulo Pessoa, John Van Reenen

The upshot of this is that the price of labour (wages) has fallen and the price of capital has increased, so firms have had incentives to substitute cheaper workers for more expensive machinery and buildings. And while this means employment is much higher than we would have otherwise have expected, it means that productivity has been depressed as a result of less investment per worker. In our recent study at the Centre for Economic Performance (CEP), we argue that once this is taken into account, productivity changes in the UK since 2008 are not so different to the picture in the 1980s and 1990s recessions (Pessoa and Van Reenen 2014).

This article was published in Social Europe Journal on June 30, 2014
Link to article here

Also in:
Business Spectator

Related Publications
The UK Productivity and Jobs Puzzle: Does the Answer Lie in Wage Flexibility?, Joao Paulo Pessoa and John Van Reenen, The Economic Journal, Volume 124, Issue 576, 433-452, May 2014
'The UK Productivity and Jobs Puzzle: Does the Answer Lie in Labour Market Flexibility?', Joao Paulo Pessoa and John Van Reenen, Centre for Economic Performance Special Paper No.31, June 2013

Related Links
Joao Paulo Pessoa webpage
John Van Reenen webpage
Productivity and Innovation Programme webpage

News Posted: 30/06/2014      [Back to the Top]

BBC Parliament

Communities and Local Government Questions

Barry Sheerman MP mentioned LSE report which highlighted percentage of greenbelt land which could be used for housing.

The broadcast was made by BBC Parliament on June 30, 2014

Related publications
Turning houses into gold: the failure of British planning, Paul Cheshire. Article in CentrePiece Volume 19, Issue 1, Spring 2014
Turning houses into gold: the failure of British planning, Paul Cheshire. LSE British Politics and Policy blog, posted May 7, 2014.

Related links
Paul Cheshire webpage
Spatial Economics Research Centre (SERC) website

News Posted: 30/06/2014      [Back to the Top]

Vox

The great British jobs and productivity mystery

Article by Joao Paulo Pessoa and John Van Reenen
The fall in productivity in the UK following the Great Recession was particularly bad, whereas the hit to jobs was less severe. This column discusses recent research exploring this puzzle. Although the mystery has not been fully solved, an important part of the explanation lies in the flexibility of wages combined with very low investment.

This article was published online by Vox on June 28, 2014
Link to article here

Also in
Business Spectator on June 30, 2014
Productivity pains and labour gains in the UK

Related publications
The UK Productivity and Jobs Puzzle: Does the Answer Lie in Wage Flexibility?, Joao Paulo Pessoa and John Van Reenen, Economic Journal 124: 433-452, May 2014.
The UK Productivity and Jobs Puzzle: Does the Answer Lie in Labour Market Flexibility?, Joao Paulo Pessoa and John Van Reenen, Centre for Economic Performance Special Paper No.31, June 2013,

Related links
Joao Paulo Pessoa webpage
John Van Reenen webpage
Productivity and Innovation Programme webpage

News Posted: 28/06/2014      [Back to the Top]

The Enlightened Economist - blog

The dog ate my homework

Blog by Diane Coyle
The new book by Richard Layard and co-author David Clark arrived in the post yesterday, Thrive: The Power of Evidence Based Psychological Therapies. It continues Professor Layard's campaign for greater provision of mental health treatment - David Clark is a Professor of Psychology. The first half of the book covers the human and economic cost of mental illness, the second half is about which therapies are effective.

The Enlightened Economist blog was posted online on June 27, 2014
Link to article here

Related Publications
Thrive: the Power of Evidence Based Psychological Therapies, Richard Layard, David M Clark, Penguin, July 2014
Further details here

Related Links
Richard Layard webpage
David Clark webpage
Wellbeing Programme webpage

News Posted: 27/06/2014      [Back to the Top]

HSJ - Health Service Journal

HSJ Live 27.06.2014: University Hospitals Birmingham 'partners' with trust 150 miles away

4.50pm MPs will be urged to double the provision of psychological therapy in the health service at a meeting in Parliament next Tuesday.
Professors Richard Layard and David Clark from the Centre for Economic Performance will present data to try and prove the economic case for increased access to psychological therapy in the NHS, arguing that the savings to the taxpayer of providing treatment outweigh the cost of the treatments themselves.

This article was published online by HSJ - Health Service Journal - on June 27, 2014
Link to article here

Related publications
Thrive: The power of evidence-based psychological therapies, Richard Layard and David M. Clark, Allen Lane, July 2014 Book details

Related links
David Clark webpage
Richard Layard webpage
Wellbeing Programme webpage

News Posted: 27/06/2014      [Back to the Top]

Times Higher Education

If you create a Soviet-style planning system, you will get tractors

Progress means putting the old out of business. Mention of LSE researchers in 1993 who ran the world's first conference on a new topic - an economic explanation for happiness.

This article was published by the Times Higher Education on June 26, 2014
Link to article here

Related links
Andrew Clark webpage
Wellbeing Programme webpage
Happiness and Public Policy webpage

News Posted: 26/06/2014      [Back to the Top]

Vox.Eu

Through the looking glass: CEO pay in China's listed companies

Publicly traded companies are the engine behind China's growth, which raises the question of how CEO compensation works under an interventionist state. This column presents an analysis of executive compensation in China and a comparison to the West. Chinese listed firms have incentive structures similar to those of the US; in this case, effective compensation policies seem to transcend political boundaries.

This article was published online by Vox.Eu on June 24, 2014
Link to article here

Related Publications
'CEO Incentive Contracts in China: Why Does City Location Matter?', Alex Bryson, John Forth and Minghai Zhou, Centre for Economic Performance Discussion Paper No.1192, February 2013

Related Links
Alex Bryson webpage
Labour Markets Programme webpage

News Posted: 24/06/2014      [Back to the Top]

Social Europe.eu

Social Europe in a climate of austerity

Article by Christopher Pissarides

The Need For Social Dialogue To Improve Distribution
Eurofound stands for Improvement of Living and Working Conditions through social dialogue. Currently, in the midst of high unemployment and increasing inequality, living and working conditions for ordinary people are worse than in 2007. But recession is not the only problem. Even when countries are recovering, the gains go mainly to the wealthier classes, which did not suffer much in the recession. Why? The reasons are fundamental and long standing. Capitalism, say of the unregulated US type, is good for giving incentives for invention and growth, but it is not good for the distribution of the rewards. Especially after the digital revolution and globalisation, distribution has become worse. A few individuals become very wealthy but global competition for those with less education and skills keeps their earnings low.

This article was published online by Social Europe.eu on June 23, 2014
Link to article here

Related links
Christopher Pissarides webpage
Macro Programme webpage

News Posted: 23/06/2014      [Back to the Top]

FT.com

'Crossrail of the North' suggested to boost economic integration

Henry Overman, a London School of Economics professor who authored the report, has continued to lobby for ''agglomeration'' of big northern cities. Prof Overman said recently that reducing travel time between Leeds and Manchester would boost wages by attracting better quality workers. ''Our largest estimate - for a 20-minute reduction in train journey times between Leeds and Manchester - has average wages increasing by between 1.06 per cent and 2.7 per cent,'' he said. ''The composition of the workforce is different in larger, better-connected places.'' He has argued against the HS2 north-south high-speed rail line, pointing out that the impact of knocking 20 minutes off the Manchester-Leeds journey is estimated to be three times that of a 40-minute reduction for travel from Leeds to London.

This article was published in the FT.com on June 23, 2014
Link to article here

Related Publications
The economic future of British cities, Henry Overman. Article in CentrePiece Volume 18, Issue 1, Summer 2013
HS2: assessing the costs and benefits, Henry Overman. Article in CentrePiece Volume 16, Issue 3, Winter 2012

Related Links
Henry Overman webpage
SERC website


News Posted: 23/06/2014      [Back to the Top]

The Guardian

Britain needs its trade unions more than ever

US-style flexibility has also been marked by a relentless squeeze on wages and the capture of the proceeds of growth by those at the top. A recent article by David Blanchflower and Stephen Machin says that in 2013, median real weekly wages (pay adjusted for inflation for someone smack in the middle of the income distribution) were about the same in 2013 as they were in 1979. ''This is probably of concern for the UK's prospects since the United States went through a number of labour market changes some time before similar shifts in the UK. These include greater ''flexibility'' and a massive reduction in the extent of union bargaining over wages,'' they wrote.

This article was published by The Guardian on June 23, 2014
Link to article here

Also in:
Kitco.com

Related Publications
Falling real wages David Blanchflower, Stephen Machin, May 2014. Article in CentrePiece - Volume 19, Issue 1, Spring 2014

Related links
Stephen Machin webpage
Labour Markets Programme webpage

News Posted: 23/06/2014      [Back to the Top]

Economico

A Economia da Felicidade em quatro licoes

Nattavudh ''Nick'' Powdthavee, economista e autor do livro 'The Happiness Equation', diz que temos de tentar ver ''alem do que e vidente em cada vivencia''. Nao pense apenas naquilo que e obvio quando tem de tomar uma decisao. Pense antes de que forma isso podera afectar o seu quotidiano - se e que vai afectar.
Nattavudh ''Nick'' Powdthavee, economist and author of 'The Happiness Equation', says we have to try to see ''beyond what is evident in every experience.'' Do not just think about what is obvious when you have to make a decision. Think about how it may affect your everyday life.

This article was published by Economico on June 22, 2014
Link to article here

Related Links
Nattavudh Powdthavee webpage
Richard Layard webpage
Paul Dolan webpage
Wellbeing Programme webpage

News Posted: 22/06/2014      [Back to the Top]

BBC Radio 4

News

Mention of LSE's research on dementia.

The research was mentioned on BBC Radio 4 News on June 19, 2014

Related Links
Martin Knapp webpage
Wellbeing webpage

News Posted: 19/06/2014      [Back to the Top]

TalkTalk (web)

PM demands action on dementia drugs

"We owe it to the 44 million people living with dementia across the world to find new treatments for this cruel condition. But with the latest research from the London School of Economics now showing that a treatment to delay onset by three years could save the UK as much as £5 billion a year, we must redouble our efforts to respond to this moral and economic imperative. I hope today will help give dementia research in this country and around the world the important boost that's needed."

This article was published online by TalkTalk on June 19, 2014
Link to article here

Also in:
MSN UK (Web)
Sunday Post (Carlisle)
Evening Telegraph (Dundee)
Tayside and Fife Courier
Jersey Evening Post [No link available]

Related Links
Martin Knapp webpage
Wellbeing Programme webpage

News Posted: 19/06/2014      [Back to the Top]

Kurzy.cz (Czechoslovakia)

(Ne)konecna krize: Zajímave názory na soucasné i budoucí turbulence

... te pristi. Co ji zpusobi? Albrecht Ritschl, profesor ekonomie na London School of Economics Pristi velka krize muze byt o cenach nerostnych surovin, o spekulacich s nimi. Nebo muze ...
(Not) the final crisis: interesting views on the present and future of turbulence
... the next one. What causes it? Albrecht Ritschl, Professor of Economics at the London School of Economics the next big crisis may be on prices of raw materials, about the speculation. Or may ...

This article was published by Kurzy.cz (Czechoslovakia) on June 19, 2014
Link to article here

Related links
Albrecht Ritschl webpage
Macro Programme webpage
Albrecht Ritschl CEP publications webpage

News Posted: 19/06/2014      [Back to the Top]

MSN UK (web)

'UK must be more dementia friendly'

But globally we desperately need to see new investment flowing into dementia research. ''We know from detailed analysis done by the London School of Economics that there is an impelling case both for economic and social viewpoints. That research shows that if treatment were available to delay the onset of dementia by just 36 months, it would save us here in the region of £5 billion per annum.''

This article was published online by MSN UK (web) on June 19, 2014
Link to article here

Also in:
Evening Standard

Related Links
Martin Knapp webpage
Wellbeing Programme webpage

News Posted: 19/06/2014      [Back to the Top]

Daily Mail

Cameron pledges to fight UK's dementia timebomb

Professor Martin Knapp, from the London School of Economics, said discovering a treatment to delay the onset of dementia by just 36 months would save the country as much as £5billion a year. Mr Cameron will claim there is a 'market failure', with scientists and drug companies having no incentive to prioritise dementia research.

This article was published in the Daily Mail on June 19, 2014
Link to article here

Related Links
Martin Knapp webpage
Wellbeing Programme webpage

News Posted: 19/06/2014      [Back to the Top]

Financial Times

Sacrifice the greenbelt to fix the broken property market

As Prof Paul Cheshire points out in London School of Economics journal Centrepiece, more of the county of Surrey is devoted to golf courses than houses. Just 10 per cent of England is built up, and gardens cover nearly half of that area. Meanwhile a child in inner London derives no benefit from the existence of greenbelt land several miles away.

This article was published in the Financial Times on June 19, 2014
Link to article here

Related publications
Turning Houses into Gold: the Failure of British Planning, Paul Cheshire. Article from CentrePiece - Volume 19, Issue 1, Spring 2014
Turning Houses into Gold: the Failure of the British Planning, Paul Cheshire, LSE British Politics and Policy Blog, posted May 7, 2014

Related links
Paul Cheshire webpage
SERC website

News Posted: 19/06/2014      [Back to the Top]

Policy Network

The skills mismatch

For the market to maintain the flexibility that is needed, the matching of workers to jobs should be as efficient as possible. Government, business and the education sector need to do more to make this happen. It is facile to contend that, with the unemployment rate falling rapidly, the labour market is functioning well - in some respects it is, but in others it is not. For the market to maintain the flexibility that is needed, the matching of workers to jobs should be as efficient as possible. While long term unemployment rates remain high, this will not happen. There is work for government, business and the education sector to do to bring these rates down. Just as in the 1980s - when Richard Layard and others argued in favour of helping the long term unemployed back to work because doing so would not add to inflationary pressure - helping these workers now is an imperative.

This article was published online by Policy Network on June 17, 2014
Link to article here

Related publications
Tackling Unemployment: Europe's Successes and Failures, Richard Jackman, Richard Layard and Stephen Nickell. Article in CentrePiece Volume 10, Issue 1, Spring 2005
Unemployment: Macroeconomic Performance and the Labour Market by Richard Layard, Stephen Nickell and Richard Jackman is published by Oxford University Press (second edition, 2005; first edition, 1991).
Book details here

Related links
Richard Layard webpage
Labour Market Programme webpage

News Posted: 17/06/2014      [Back to the Top]

Bloomberg BusinessWeek

Crest Nicholson CEO says housing policy 'tinkering'

Stephen Stone, chief executive officer of Crest Nicholson Holdings Plc and Paul Cheshire, professor of economic geography at London School of Economics, discuss U.K. property prices, planning laws and building on green-belt land. They speak with Anna Edwards and Mark Barton on Bloomberg Television's ''Countdown''.

This article was published by Bloomberg BusinessWeek on June 17, 2014
Link to article here

Related publications
Turning houses into gold: the failure of British planning, Paul Cheshire. Article in CentrePiece Volume 19, Issue 1, Spring 2014.
Turning houses into gold: the failure of British planning, Paul Cheshire. LSE British Politics and Policy blog, posted May 7, 2014.

Related links
Paul Cheshire webpage
Spatial Economics Research Centre (SERC) website


News Posted: 17/06/2014      [Back to the Top]

El Economista.es

Espana y el riesgo de los inversores

...errores Uno de los analistas economicos mas acreditados, el catedratico de la London School of Economics, Luis Garicano, autor de un certero diagnostico reciente sobre la coyuntura de este pais...
Spain and the risk of investors
...errores one of the most economic analysts, Professor of the London School of Economics, Luis Garicano, author of an accurate diagnosis recently on the situation in this country...

This article was published online by El Economista.es (Spain) on June 17, 2014
Link to article here

Related publications
El Dilema De Espana, Luis Garicano. Published by Grup 62, January 2014
Details here

Related links
Luis Garicano webpage
Productivity and Innovation Programme webpage

News Posted: 17/06/2014      [Back to the Top]

Huffington Post (Deutschland)

Er job im Ausland - das Streben nach Wohlstand macht viele Wirtschaftsmigranten unglucklich

Abgesehen davon gibt es generelle MaBnahmen, die sowohl den Einwanderern, als auch den Einheimischen selbst zugute kommen. Richard Layard wirbt beispielsweise für eine fortschrittliche Steuerpolitik, um die wirtschaftliche Ungleichheit zu lindern. Benjamin Radcliff geht noch weiter und vertritt eine aktivere Herangehensweise an Sozialpolitik, um so die Kommodifikation von Arbeit zu senken.
The job abroad - the pursuit of wealth makes unhappy many economic migrants
Apart from that, there are general measures that benefit both immigrants and locals. Richard Layard advertises for a progressive tax policy to alleviate the economic inequality. Benjamin Radcliff goes further and represents a more active approach to social policy, to reduce as the commodification of work.

This article was published by the Huffington Post (Deutschland) on June 16, 2014
Link to article here

Related publications
Tackling Unemployment: Europe's Successes and Failures, Richard Jackman, Richard Layard and Stephen Nickell. Article in CentrePiece Volume 10, Issue 1, Spring 2005
Unemployment: Macroeconomic Performance and the Labour Market by Richard Layard, Stephen Nickell and Richard Jackman is published by Oxford University Press (second edition, 2005; first edition, 1991).
Book details here

Related links
Richard Layard webpage
Labour Market Programme webpage

News Posted: 16/06/2014      [Back to the Top]

Guardian online - Dave Hill's London Blog

Boris Johnson: brown fields and green elephants

According to Professor Paul Cheshire, you could build 1.6 million homes at average densities if just a fraction of that greenbelt space, much of it riding schools and golf courses, were reclassified.

This article was published in the guardian.co.uk Dave Hill's London Blog on June 16, 2014
Link to article here

Related publications
Turning houses into gold: the failure of British planning, Paul Cheshire. Article in CentrePiece Volume 19, Issue 1, Spring 2014.
Turning houses into gold: the failure of British planning, Paul Cheshire. LSE British Politics and Policy blog, posted May 7, 2014.

Related links
Paul Cheshire webpage
Spatial Economics Research Centre (SERC) website


News Posted: 16/06/2014      [Back to the Top]

International New York Times

Finally, a national team

Every team is simply trying to score goals while preventing its opponent from doing the same. But they all seem to go about it in distinct ways, don't they? To understand what is happening on the fields in Brazil at the World Cup, one must learn a bit about each country's history, and literature, and music, and regionalism, and economy - not to mention bicycles and pottery. If you look closely enough at the X's and O's, you just might find a national poem.

Luis Garicano on the Spanish team: Spain's recent run of success, fueled by an extraordinary generation of players, took place amid a staggering economic crisis that has only increased separatist fervor. The success has served as a challenge to soccer regionalism, but it also owes a debt to a remarkable human story that has kept regional tensions from dividing the team.
Luis Garicano is a professor of economics and strategy at the London School of Economics and the author of ''El Dilema de Espana''.

This article was published by the International New York Times on June 15, 2014
Link to article here

Related publications
El Dilema De Espana, Luis Garicano. Published by Grup 62, January 2014
Details here

Related links
Luis Garicano webpage
Productivity and Innovation Programme webpage

News Posted: 15/06/2014      [Back to the Top]

TransportXtra

Transport debate 'damaged by dubious job creation claims'

In a keynote paper to last week's Modelling World conference, Henry Overman said much greater discipline needed to be imposed on the claims made by policy-makers about transport investment's impact on the economy.

This article was published online by TransportXtra on June 13, 2014
Link to article here

Related links
Henry Overman webpage
SERC website
Henry Overman CEP Publications webpage

News Posted: 13/06/2014      [Back to the Top]

Wirtschaftswoche

Der britische Alptraum

Fur die britische Wirtschaft ware das ein Alptraum. In der aktuellen Studie ''Brexit or Fixit?'' uber die wirtschaftlichen Auswirkungen eines britischen EU-Austritts warnen hochrangige Okonomen vom Center for Economic Performance (CEP) der London School of Economics vor den enormen Kosten einer solchen Entscheidung.

This article was published in Wirtschaftswoche on June 12, 2014
Link to article webpage

Also in:
Handelsblatt
EU-Austritt?: Der britische Alptraum

Related publications
'Brexit or Fixit? The Trade and Welfare Effects of Leaving the European Union', Gianmarco I.P. Ottaviano, Joao Paulo Pessoa, Thomas Sampson and John Van Reenen, CEP Policy Analysis No. 16, May 2014
The Costs and Benefits of Leaving the EU, Gianmarco Ottaviano, Joao Paulo Pessoa, Thomas Sampson and John Van Reenen, CEP mimeo/technical paper, May 2014

Related links
Gianmarco Ottaviano webpage
Joao Paulo Pessoa webpage
Thomas Sampson webpage
John Van Reenen webpage
Globalisation Programme webpage
Productivity and Innovation Programme webpage

News Posted: 12/06/2014      [Back to the Top]

E Science News

Lifetime costs for autism spectrum disorder may reach $2.4 million per patient, Penn study finds

The team, which included investigators from Penn and the London School of Economics, analyzed existing literature in both countries, updating and supplementing as needed to estimate the cost of accommodation, medical and non-medical services, special education, employment support and productivity loss. Differences in how education, health care and other systems are organized and financed between the two countries made this somewhat of a challenge.

This article was published in E Science News on June 11, 2014
Link to article here

See also
Xinhua News Agency: Lifetime costs for autism may reach 2.4m dollars in US: study
MedicalXpress: Lifetime costs for autism spectrum disorder may reach $2.4 million per patient
Science 2.0: What is the lifetime cost of autism?
EMax Health: Lifetime cost of autism highlights need for better resources
Guernsey Press [No link available]: Call for more autism research fund
EurekAlert! [No link available]: Study puts price tag on lifetime support for individuals with autism

Related Links
Martin Knapp webpage
Wellbeing webpage

News Posted: 11/06/2014      [Back to the Top]

BBC Radio 4

Housing: Where will we all live?

A debate on why Britain is failing to build enough homes and how best to fix the problem which was held at LSE. Speakers included Paul Cheshire.

This programme was first broadcast on BBC Radio 4 on June 11, 2014
Link to broadcast here

Related publications
Turning houses into gold: the failure of British planning, Paul Cheshire. Article in CentrePiece Volume 19, Issue 1, Spring 2014

Related links
Paul Cheshire webpage
Spatial Economics Research Centre (SERC) website

News Posted: 11/06/2014      [Back to the Top]

City AM

Autism lags in research investment, new report claims

Professor Martin Knapp, lead researcher of the study, believes that the discrepancy is caused mainly by a lack of awareness about how the money is spent. ''It's partly because the prevalence and impacts of the disease have only recently started to be appreciated,'' he says. ''Also, a lot of the costs get picked up by families who carry the strain of having to look after someone with autism, so it is hidden from public view.''

This article was published by City AM on June 10, 2014
Link to article here

Related Links
Martin Knapp webpage
Wellbeing webpage

News Posted: 10/06/2014      [Back to the Top]

China.org.cn

Lifetime costs for autism may reach 2.4 mln dollars in U.S.: study

The team, which also included investigators from the London School of Economics, analyzed existing literature in both countries, updating and supplementing as needed to estimate the cost of accommodation, medical and non-medical services, special education, employment support and productivity loss. According to the researchers, the number of people with ASD is estimated at 3.54 million in the U.S. and about 600,000 in the U.K.

This article was published online by China.org.cn on June 10, 2014
Link to article here

See also:
Individual.com

Related links
Martin Knapp webpage
Wellbeing Programme webpage

News Posted: 10/06/2014      [Back to the Top]

Daily Mail

£32billion bill for autism, UK's costliest condition

Autism is the most costly medical condition in Britain, say researchers. It costs the UK £32 billion a year - more than heart disease, cancer and stroke combined. Researchers at the London School of Economics and Political Science (LSE) have produced the most comprehensive estimate yet of treatment, lost earnings, care and support costs for children and adults with autism.

This article was published in the Daily Mail on June 10, 2014
Link to article here

Also in: Daily Mail (Scotland)

See also
Disability Scoop
Autism Costs May Top $2 Million Per Person
Capital Bay
32billion bill for autism, Britain costliest condition: Total cost of treatment, care and support is more than heart disease, cancer and strokes combined
EMax Health
Lifetime cost of autism highlights need for resources
ScienceNewsline
Study Puts Price Tag on Lifetime Support for Individuals with Autism
Global Times
Lifetime costs for autism may reach $2.4 mln in US: study
Interaksyon
What is the lifetime cost for autism in US, UK?
CNBC
The most expensive medical condition to treat is...

Related links
Martin Knapp webpage
Wellbeing Programme webpage

News Posted: 10/06/2014      [Back to the Top]

The Scotsman

How lifetime of autism care costs £1.31 million

THE lifetime cost of caring for a person with autism is around £1.31 million, research has revealed. Researchers at London School of Economics and Political Science assessed the care cost to families both in the US and the UK in 2013. The research, published online at JAMA Pediatrics, said: ''There is an urgent need for a better understanding of the effectiveness and cost-effectiveness of interventions and support arrangements that address the needs and respond to the preferences of individuals with ASDs and their families.''

This article was published by The Scotsman on June 10, 2014
Link to article here

Related links
Martin Knapp webpage
Wellbeing Programme webpage

News Posted: 10/06/2014      [Back to the Top]

Bloomberg

Autism Costs May Top $2 Million Over Patient's Life, Study Finds

Today's findings, by researchers from the University of Pennsylvania and the London School of Economics and Political Science, look beyond age 18 to include the costs of a potential lifelong disability.

This article was published online by Bloomberg on June 9, 2014
Link to article here

See also:
Columbus
Newswise
Jersey Evening Post
Benefits Pro

Related links
Martin Knapp webpage
Wellbeing Programme webpage

News Posted: 09/06/2014      [Back to the Top]

BBC (Web)

Autism costs '£32bn per year' in UK

The figures showed a clear need for more effective interventions to treat autism, ideally in early life, to make the best use of scarce resources, said lead researcher Prof Martin Knapp, of the London School of Economics and Political Science, in London. ''We need to use our resources earlier, identify people earlier and try to provide therapies and support that makes it easier to manage the condition,'' he told BBC News. He said new government policies were also needed to address ''the enormous impact on families''.

This article was published online by BBC News on June 9, 2014
Link to article here

See also
RocketNews

Related links
Martin Knapp webpage
Wellbeing Programme webpage

News Posted: 09/06/2014      [Back to the Top]

The Daily Telegraph

Caring for a child with autism costs parents up to £1.3m

Researchers at the London School of Economics and Political Science assessed the care costs for families in the United States and Britain.

The article was published in The Daily Telegraph on June 9, 2014
(no link available)

Also in: Daily Telegraph (Scotland)

Related links
Martin Knapp webpage
Wellbeing Programme webpage

News Posted: 09/06/2014      [Back to the Top]

The Guardian

Autism costs UK £32bn a year, analysis shows

Autism costs the US and UK economies $175bn (£104bn) and £32bn a year respectively, more than any other medical condition and greater than the cost of cancer, strokes and heart disease combined, according to an economic analysis of the condition's impact. Professor Martin Knapp, from the London School of Economics who co-authored the study, said: ''Autism is more common than perhaps people realise - it's more than 1 percent of the population. Also the impact that it has is across the lifespan, particularly for people with autism and learning difficulties, also known as low-functioning autism. Those individuals would need quite a lot of care and support from a pretty early age. You're talking about 60 to 70 years of support for people with this level of need.''

This article was published by The Guardian on June 9, 2014
Link to article here

Related links
Martin Knapp webpage
Wellbeing Programme webpage

News Posted: 09/06/2014      [Back to the Top]

BBC Radio 4

World at One

Paul Cheshire talks about the housing crisis.

The interview was broadcast by BBC Radio 4 on the World at One show on June 6, 2014
Link to programme here

Also on:
Heart Northampton
BBC Radio 2
BBC Cornwall
BBC Leicester
BBC Manchester
BBC Merseyside
BBC Cambridgeshire
Downtown Radio Belfast
BBC London 94.9
BBC Wales
BBC Radio 5 Live
BBC Radio Scotland

Related publications
Turning Houses into Gold: the Failure of British Planning, Paul Cheshire. Article from CentrePiece, Volume 19, Issue 1, Spring 2014

Related links
Paul Cheshire webpage
SERC website

News Posted: 06/06/2014      [Back to the Top]

The Financial Times

Why homeworking is bad for your career

In 2013, Nicholas Bloom and his colleagues published a study they ran with Ctrip, a Chinese travel agency. Bloom et al conducted a randomised controlled trial with employees from the company's call centres. One group of workers stayed in the centres while the other answered customer calls from their own homes.

This article was published in The Financial Times on June 6, 2014
Link to article here

Related publications
'Does Working from Home Work? Evidence from a Chinese Experiment', Nicholas Bloom, James Liang, John Roberts and Zhichun Jenny Ying, Centre for Economic Performance Discussion Paper No.1194, March 2013

Related links
Nicholas Bloom webpage
Productivity and Innovation Programme webpage

News Posted: 06/06/2014      [Back to the Top]

El Pais

La Monarquía no es el problema, by Luis Garicano

La Monarquia parece una afrenta a los principios democraticos. Como puede nacer una persona con mas privilegios que los demas? No debemos ser meritocraticos y democraticos en todo? Tal razonamiento parece conducir a la Republica como unica forma de Estado justificable. Por ello, en estos ultimos dias muchos ciudadanos se preguntan: por que; no cambiar nuestra forma de Estado? De forma paralela, la autodeterminacion de Cataluna o el Pais Vasco tiene una apelacion emocional y logica obvia: ''Queremos elegir nuestro destino''. Muchos ciudadanos, especialmente en Cataluna, se preguntan: por que; no?
The Monarchy seems an affront to democratic principles. How can a person be born with more privileges than others? Should we not be meritocratic and democratic at all? Such reasoning seems to lead to the Republic as the only justifiable form of State. Therefore, in these last days many people are wondering: why not change our form of government? In parallel, the determination of Catalonia and the Basque Country has an obvious emotional and logical appeal: ''We choose our destiny.'' Many citizens, especially in Catalonia, they ask: why not ?

This article was published by El Pais on June 4, 2014
Link to article here

Also in:
Tribuna Libre

Related links
Luis Garicano webpage
Productivity and Innovation Programme webpage

News Posted: 04/06/2014      [Back to the Top]

Corriere della Sera

Il giorno-tipo del capoazienda? Passato a preparare riunioni

Com'è la giornata tipo di un manager nel mondo? Quante ore lavora e cosa fa in quelle ore? Uno studio su amministratori delegati europei, americani, indiani e brasiliani condotto da Raffaella Sadun (che insegna Business Administration alla Harvard Business School) ha messo in evidenza come le differenze tra chief executive officer siano notevoli e si riflettano sulla performance delle aziende.
What is the typical day of a manager in the world? How many hours do they work and what do they do in those hours? A study of Europeans, Americans, Indians and Brazilians CEOs led by Raffaella Sadun (who teaches Business Administration at Harvard Business School) has shown that the differences between chief executive officers are remarkable and are reflected on the performance of companies.

This article was published by Carriere della Sera on June 3, 2014
Link to article here

Related Publications
'What Do CEOs Do?', Oriana Bandiera, Luigi Guiso, Andrea Prat and Raffaella Sadun, Centre for Economic Performance Discussion Paper No.1145, May 2012

Related Links
Raffaella Sadun webpage
Productivity and Innovation webpage

News Posted: 03/06/2014      [Back to the Top]

Huffington Post Politics (UK)

Are immigrants really undermining the wages of low-paid Britons?

A London School of Economics study in 2009 concluded that ''migrants have a significant, small, negative impact on average wages'', adding that it tended to have the biggest impact on the semi/unskilled services sector.

This article was printed online by Huffington Post Politics (UK) on May 30, 2014
Link to article here

Related publications
'The Impact of Immigration on Occupational Wages: Evidence from Britain', Stephen Nickell and Jumana Saleheen, SERC Discussion Paper No.34, October 2009

Related links
Stephen Nickell CEP publications webpage
SERC (Spatial Economics Research Centre) website

News Posted: 30/05/2014      [Back to the Top]

VOX

Can giving taxpayers a voice increase tax compliance?

Article by Jan-Emmanuel De Neve, Cait Lamberton and Michael Norton
Non-compliance with tax costs governments billions, in part because people really don't like paying taxes. This column reports two experiments designed to see if it's possible to make people hate taxes a little less and raise tax compliance. The results indicate that if people are given the opportunity to express a preference (though not actually make the final decisions) on how their taxes are spent, they are much less likely to cheat. Simply by making the tax form more interactive, governments could increase tax compliance, while empowering citizens and improving their attitudes towards taxation.

This article was published online by VOX on May 30, 2014
Link to article here

Related publications
'Eliciting Taxpayer Preferences Increases Tax Compliance', Cait Lamberton, Jan-Emmanuel De Neve and Michael L. Norton, Centre for Economic Performance Discussion Paper No.1270, May 2014

Related links
Jan-Emmanuel De Neve webpage
Wellbeing Programme webpage

News Posted: 30/05/2014      [Back to the Top]

Centre for Economic Performance Press Release

Give taxpayers a voice: New experimental research shows how to make people feel better about paying taxes and cheat less

Research by Professors Cait Lamberton, Jan-Emmanuel De Neve and Michael Norton suggests that the annual tax filing process offers an unexploited opportunity for governments to engage with taxpayers - and one that could be a low-cost way to help address the estimated annual UK 'tax gap' of £42 billion due to non-compliance.

The CEP press release was published online on May 29, 2014
Link to the release here

Related publications
'Eliciting Taxpayer Preferences Increases Tax Compliance', Cait Lamberton, Jan-Emmanuel De Neve and Michael L. Norton, Centre for Economic Performance Discussion Paper No.1270, May 2014

Related links
Jan-Emmanuel De Neve webpage
Wellbeing Programme webpage

News Posted: 29/05/2014      [Back to the Top]

The Guardian

Talking therapies are better than pills, but you have to find the right one

When the Depression Report was published by the Centre for Economic Performance's mental health policy group in 2006, it quantified the effects of that over-medicalisation for the first time. Talking therapies, particularly CBT, could be shown to be more effective than medication in cases of mild to moderate depression, both in getting people back to work and preventing recurrence.

This article was published in The Guardian on May 28, 2014
Link to article here

Related publications
The Depression Report: A New Deal for Depression and Anxiety Disorders by Richard Layard. Published 2006 by the Mental Health Policy Group.

Related links
Richard Layard webpage
Wellbeing Programme webpage
Mental Health Policy Group webpage

News Posted: 28/05/2014      [Back to the Top]

Die Welt

EU-Austritt würde Briten extrem hart treffen

''Der Ausstieg wurde der britischen Wirtschaft betrachtliche Kosten aufburden'', sagt Joao Paulo Pessoa vom Centre for Economic Performance an der London School of Economics, einer der Verfasser der Studie ''Brexit or Fixit?'', die kurzlich in London vorgestellt wurde. ''Es ware ein sehr riskantes Spiel. Der Traum von der 'splendid isolation' konnte sich als ein sehr teurer Traum herausstellen'', sagt Pessoa.
Withdrawal from the EU would hit British extremely hard
''The withdrawal of the British economy would impose considerable costs,'' said Joao Paulo Pessoa from the Centre for Economic Performance at the London School of Economics, one of the authors of the study ''Brexit or Fixit?'', which was recently presented in London. ''It would be a very risky game. Dreaming of the 'splendid isolation' could turn out to be a very expensive dream,'' said Pessoa.

This article was published in Die Welt (Germany) on May 27, 2014
Link to article here

Also in
hamburger Abendblatt (Germany)
EU-Austritt wrde Briten extrem hart treffen

Related publications
'Brexit or Fixit? The Trade and Welfare Effects of Leaving the European Union', G.I.P. Ottaviano, João Paulo Pessoa, Thomas Sampson and John Van Reenen, Centre for Economic Performance Policy Analysis No.16, May 2014
The Costs and Benefits of Leaving the EU, Gianmarco Ottaviano, João Paulo Pessoa, Thomas Sampson and John Van Reenen, CEP mimeo/technical paper, May 2014

Related links
Gianmarco Ottaviano webpage
João Paulo Pessoa webpage
Thomas Sampson webpage
John Van Reenen webpage
Globalisation Programme webpage
Productivity and Innovation Programme webpage

News Posted: 27/05/2014      [Back to the Top]

The Economist

Fiscal blackmail

Lessons from behavioural economics can boost tax compliance
In another new paper researchers [from the Centre for Economic Performance and Harvard Business School] investigate whether these receipts work as intended. They also add a twist, testing whether those who might be less likely to pay on learning how their money is spent can nonetheless be cajoled to comply if given the chance to air their views.

This article was published in The Economist on May 24, 2014
Link to article here

Related publications
'Eliciting Taxpayer Preferences Increases Tax Compliance', Cait Lamberton, Jan-Emmanuel De Neve and Michael L. Norton, Centre for Economic Performance Discussion Paper No.1270, May 2014

Related links
Jan-Emmanuel De Neve webpage
Wellbeing Programme webpage

News Posted: 24/05/2014      [Back to the Top]

Taloussanomat

Mitä hyötyä johtajista oikein onkaan?

Johtajuus voi selittaa neljanneksen tai jopa kolmanneksen eroista kokonaistuottavuudessa maiden ja yritysten valilla. Taloustieteilijoiden Nicholas Bloom, Renata Lemos, Raffaella Sadun, Daniela Scur ja John Van Reenen tulokset julkaistiin artikkelissa The New Empirical Economics of Management.
What is the advantage of the leaders of the right?
Leadership can explain the differences between the countries in the third quarter, or even kokonaistuottavuudessa and between companies. Economists Nicholas Bloom, Raffaella Sadun, Renata Lemos, Daniela Scur and John Van Reenen results were published in an article in the The New Empirical Economics of Management

This article was published online by Taloussanomat (Finland) on May 22, 2014
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
Producitivity and Innovation Programme webpage

News Posted: 22/05/2014      [Back to the Top]

CNN

Opinion: Does minimum wage make sense? Yes, but...

Article by Alan Manning
Why this widespread enthusiasm for the minimum wage? There is both economics and politics at play.

This article was published online by CNN on May 22, 2014
Link to article here

Also in
KSPRabc33 - broadcaster's online news
Does minimum wage make sense? Yes, but...

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: 22/05/2014      [Back to the Top]

LSE USA Politics and Policy Blog

Firms with more structured management practices are more productive, innovative and have faster employment growth

In 2010, the US Census Bureau conducted the first large-scale survey of management practices in America, gathering data on more than 30,000 manufacturing plants. Nicholas Bloom and colleagues find strong links between establishments performance and the quality of their systems of monitoring, targets and incentives.

This article was published by the LSE USA Politics and Policy blog on May 21, 2014
Link to article here

Related Publications
In brief: Management in America, Nicholas Bloom, Erik Brynjolfsson, Lucia Foster, Ron Jarmin, Megha Patnaik, Itay Saporta-Eksten and John Van Reenen. Article in CentrePiece, 19 (1) Spring 2014
'IT and Management in America', Nicholas Bloom, Erik Brynjolfsson, Lucia Foster, Ron Jarmin, Megha Patnaik, Itay Saporta-Eksten and John Van Reenen, Centre for Economic Performance Discussion Paper No.1258, February 2014.

Related Links
Nick Bloom webpage
John Van Reenen webpage
Productivity and Innovation Programme webpage

News Posted: 21/05/2014      [Back to the Top]

City A.M.

The UK housing market needs Help to Supply - not Help to Buy

THE UK housing market needs Help to Supply, not Help to Buy. The government's housing scheme has helped first-time buyers get a leg-up onto the property ladder, but that privilege has come at a price - with house prices higher than otherwise, as the subsidy became capitalised in prices. Paul Cheshire, emeritus professor at the LSE, has shown how building on greenbelt would only have to be very modest in order to provide more than enough land for housing for generations to come.

This article was published in City A.M. on May 21, 2014
Link to article here

Related publications
Turning houses into gold: the failure of British planning, Paul Cheshire. Article in CentrePiece Volume 19, Issue 1, Spring 2014
Turning houses into gold: the failure of British planning, Paul Cheshire. LSE British Politics and Policy blog, posted May 7, 2014.

Related links
Paul Cheshire webpage
Spatial Economics Research Centre (SERC) webpage

News Posted: 21/05/2014      [Back to the Top]

LSE British Politics and Policy blog

Leaving the European Union is likely to have a significant negative economic impact

In a new report on the economic consequences of a 'Brexit', Gianmarco Ottaviano, João Paulo Pessoa, Thomas Sampson and John Van Reenen find that if the UK left the European Union there would be a significant negative impact. The most important cost would be as a result of lower trade with the EU as a result of higher barriers.

This article was posted on the LSE British Politics and Policy blog on May 21, 2014
Link to article here

Related publications
'Brexit or Fixit? The Trade and Welfare Effects of Leaving the European Union', G.I.P. Ottaviano, João Paulo Pessoa, Thomas Sampson and John Van Reenen, Centre for Economic Performance Policy Analysis No.16, May 2014
The Costs and Benefits of Leaving the EU, Gianmarco Ottaviano, João Paulo Pessoa, Thomas Sampson and John Van Reenen, CEP mimeo/technical paper, May 2014

Related links
Gianmarco Ottaviano webpage
João Paulo Pessoa webpage
Thomas Sampson webpage
John Van Reenen webpage
Globalisation Programme webpage
Productivity and Innovation Programme webpage

News Posted: 21/05/2014      [Back to the Top]

Policy Review

Leaving the EU could cost UK more than 2008 financial crisis

The Conservative party is committed to holding a referendum on the UK's membership of the European Union (EU) in 2017 - and many voters seem keen on having the opportunity to express their opinion. So what would be the consequences of a majority vote in favour of leaving? 'Brexit' is likely to have a significant negative impact on the UK economy, writes Joao Paulo Pessoa.

This article was published online by the Policy Review on May 21, 2014
Link to article here

Related publications
'Brexit or Fixit? The Trade and Welfare Effects of Leaving the European Union', G.I.P. Ottaviano, Joao Paulo Pessoa, Thomas Sampson and John Van Reenen, Centre for Economic Performance Policy Analysis No.16, May 2014
The Costs and Benefits of Leaving the EU, Gianmarco Ottaviano, Joao Paulo Pessoa, Thomas Sampson and John Van Reenen, CEP mimeo/technical paper, May 2014

Related links
Gianmarco Ottaviano webpage
Joao Paulo Pessoa webpage
Thomas Sampson webpage
John Van Reenen webpage
Globalisation Programme webpage
Productivity and Innovation Programme webpage

News Posted: 21/05/2014      [Back to the Top]

i (the paper for today)

The right choice: pros and cons of further study

A higher qualification comes with lots of benefits, but weigh up the costs first to make sure it will be worth the investment. A Bachelors degree is no longer a passport to a career in some employment sectors. As an increasing number of graduates chase a limited number of jobs, a higher qualification is often expected or demanded by employers at entry level. The Postgraduate Premium, based on research by the Sutton Trust - led by the London School of Economics and University of Surrey - shows that 11 per cent of the UK workforce aged 26-60, hold a postgraduate qualification.

This article was published in i (independent) on May 21, 2014
Link to pdf of the article here.

Related publications
The Postgraduate Premium: Revisiting Trends in Social Mobility and Educational Inequalities in Britain and America, Joanne Lindley and Stephen Machin, Sutton Trust Report, February 2013

Related links
Stephen Machin
webpage
Education and Skills Programme webpage

News Posted: 21/05/2014      [Back to the Top]

The Guardian

Six reasons why we should build on the green belt

The fourth reason given for building on the green belt:

It encourages inequality
The green belt increases social inequality by acting as a wall that confines urban dwellers at increasingly higher densities. Prof Paul Cheshire of the London School of Economics described it as ''a very British form of discriminatory zoning, keeping the urban unwashed out of the home counties - and, of course, helping to turn houses into investment assets instead of places to live''.

This article was published in The Guardian on May 21, 2014
Link to article here

Related publications
Turning houses into gold: the failure of British planning, Paul Cheshire. Article in CentrePiece Volume 19, Issue 1, Spring 2014
Turning houses into gold: the failure of British planning, Paul Cheshire. LSE British Politics and Policy blog, posted May 7, 2014.

Related links
Paul Cheshire webpage
Spatial Economics Research Centre (SERC) webpage

News Posted: 21/05/2014      [Back to the Top]

The Guardian - teachers' blog

Why school management matters even more than we thought

In their blog, Renata Lemos and John Van Reenen say that good management in schools has a stronger effect than class sizes or quality teaching.

This blog was posted in the guardian.com teachers' blog on May 20, 2014
Link to article here

Related publications
In brief: Does management matter in schools?, Renata Lemos. Article in CentrePiece 19 (1) Spring 2014


Related links
Renata Lemos webpage
John Van Reenen webpage
Productivity and Innovation Programme webpage

News Posted: 20/05/2014      [Back to the Top]

Derstandard.at

Der Telegraf als Vorbote von Big Data

Wien - Was bringt Kommunikation? Wenn neue Technologien zu einer Flut und Schnelligkeit von Information fuhren, was haben Unternehmen und Konsumenten davon? Die Frage ist in Zeiten von Internet und Big Data aktueller denn je. Die osterreichische Okonomin Claudia Steinwender, die ab 2015 als Assistant-Professor an der Harvard Business School forschen wird, hat in einer Studie die Auswirkung von Information auf den Handel analysiert. Dafur hat sie sich die Einfuhrung des transatlantischen Telegrafen angesehen, der ab dem 28. Juli 1866 die USA und Großbritannien fast in Echtzeit miteinander verband.
The telegraph as a harbinger of big data
Vienna - what is communication? If new technologies lead to a flood and speed of information, what businesses and consumers of it? The question is timelier than ever in times of Internet and big data. The Austrian economist Claudia Steinwender, who is conducting research in 2015 as Assistant Professor at the Harvard Business School, has analyzed the impact of information on the trade in a study. For that she viewed the introduction of the transatlantic Telegraph, connected the United States and the United Kingdom from July 28, 1866 almost in real time.

This article was published online by Derstandard.at on May 18, 2014
Link to article here

Related Publications
Victorian internet: the trade impact of the transatlantic telegraph, Claudia Steinwender. Article in CentrePiece 19(1) Spring 2014
Information Frictions and the Law of One Price: When the States and the Kingdom became United, Claudia Steinwender. London School of Economics and Political Science mimeo, April 2014

Related Links Claudia Steinwender webpage
Labour Markets Programme webpage

News Posted: 18/05/2014      [Back to the Top]

The Daily Telegraph

UK could be plunged into another crisis if it left EU

Economists at the Centre for Economic Performance (CEP), which is part of the London School of Economics, described a British exit as a ''very risky gamble''. It said the move would cost jobs, reduce investment and push up the price of goods, even if the Government managed to a strike Swiss-style agreement to keep trade channels open.

This article was published in The Daily Telegraph on May 17, 2014
Link to article here

Related publications
'Brexit or Fixit? The Trade and Welfare Effects of Leaving the European Union', G.I.P. Ottaviano, Joao Paulo Pessoa, Thomas Sampson and John Van Reenen, Centre for Economic Performance Policy Analysis No.16, May 2014
The Costs and Benefits of Leaving the EU, Gianmarco Ottaviano, Joao Paulo Pessoa, Thomas Sampson and John Van Reenen, CEP mimeo/technical paper, May 2014

Related links
Gianmarco Ottaviano webpage
Joao Paulo Pessoa webpage
Thomas Sampson webpage
John Van Reenen webpage
Globalisation Programme webpage
Productivity and Innovation Programme webpage

News Posted: 17/05/2014      [Back to the Top]

The Times

Exit from EU 'could hit UK harder than financial crisis'

In a fresh analysis of the effects of a so-called Brexit, the Centre for Economic Performance (CEP) said that in the worst-case scenario Britain could suffer a fall of between 6.3 per cent and 9.5 per cent of GDP because of increased trade and regulatory costs. This compares with a 7 per cent drop in output after the global financial crisis struck.

This article was published in The Times on May 17, 2014
Link to article here.
Complete pdf of the article can be downloaded from here.

Related publications
'Brexit or Fixit? The Trade and Welfare Effects of Leaving the European Union', G.I.P. Ottaviano, Joao Paulo Pessoa, Thomas Sampson and John Van Reenen, Centre for Economic Performance Policy Analysis No.16, May 2014
The Costs and Benefits of Leaving the EU, Gianmarco Ottaviano, Joao Paulo Pessoa, Thomas Sampson and John Van Reenen, CEP mimeo/technical paper, May 2014

Related links
Gianmarco Ottaviano webpage
Joao Paulo Pessoa webpage
Thomas Sampson webpage
John Van Reenen webpage
Globalisation Programme webpage
Productivity and Innovation Programme webpage

News Posted: 17/05/2014      [Back to the Top]

EU Observer.com

Brexit would be 'very costly gamble'

Increased trade and regulatory costs would cost the UK economy up to 9.5 percent of its output if the UK left the European Union, according to new research by the London School of Economics. The findings are contained in the 'Brexit or Fixit?' report by researchers at the Centre for Economic Performance, which forms part of the university. ''Our current assessment is that leaving the EU would be likely to impose substantial costs on the UK economy and would be a very risky gamble,'' the paper states.

This article was published online by EU Observer.com on May 16, 2014
Link to article here

Related publications
'Brexit or Fixit? The Trade and Welfare Effects of Leaving the European Union', G.I.P. Ottaviano, Joao Paulo Pessoa, Thomas Sampson and John Van Reenen, Centre for Economic Performance Policy Analysis No.16, May 2014
The Costs and Benefits of Leaving the EU, Gianmarco Ottaviano, Joao Paulo Pessoa, Thomas Sampson and John Van Reenen, CEP mimeo/technical paper, May 2014

Related links
Gianmarco Ottaviano webpage
Joao Paulo Pessoa webpage
Thomas Sampson webpage
John Van Reenen webpage
Globalisation Programme webpage
Productivity and Innovation Programme webpage

News Posted: 16/05/2014      [Back to the Top]

Cyprus Mail

Initiative looks at how to overcome cuts in education

THE Cyprus Volunteer Team of Supporters of the European Citizens' Initiative ''Invest in Education'' is organising an open event tomorrow regarding a campaign to put an end to cuts in education due to austerity measures. Sir Christopher Pissarides, the Cypriot Nobel Prize Winner for Economics, will be delivering the key-note speech. He is one of the supporters of the initiative.

This article was published by Cyprus Mail on May 15, 2014
Link to article here

Related links
Christopher Pissarides webpage
Macro Programme webpage


News Posted: 15/05/2014      [Back to the Top]

BBC Berkshire

News

Paul Cheshire discusses need for more housing on greenbelts.

This interview was broadcast by BBC Berkshire on May 14, 2014
No link available.

Related publications
Turning houses into gold: the failure of British planning, Paul Cheshire. Article in CentrePiece Volume 19, Issue 1, Spring 2014.
Turning houses into gold: the failure of British planning, Paul Cheshire. LSE British Politics and Policy blog, posted May 7, 2014.

Related links
Paul Cheshire webpage
Spatial Economics Research Centre (SERC) website


News Posted: 14/05/2014      [Back to the Top]

The Conversation

‘4,000 down, 20,000 to go' – the academies drive gathers pace

Meanwhile, justification for rapid academisation is scant. A 2009 report by LSE academics Stephen Machin and Joan Wilson signals there was little proof that New Labour's academies raised the attainment of poorer students more than similar schools.

This article was published online by the Conversation on May 14, 2014
Link to article here

Related Publications
Academy schools and pupil performance, Stephen Machin and Joan Wilson. Article in CentrePiece 14 (1) Spring 2009
This article summarises 'Public and Private Schooling Initiatives in England' by Stephen Machin and Joan Wilson, a chapter in School Choice International: Exploring Public-Private Partnerships edited by Rajashri Chakrabarti and Paul E. Peterson, MIT Press, 2008. Details

Related Links
Steve Machin webpage
Labour Markets webpage

News Posted: 14/05/2014      [Back to the Top]

TheJournal.ie

Opinion: Anxiety and depression are key in keeping the long-term unemployed out of work

When the London School of Economics looked at the issues that hold people in long-term unemployment, common mental health difficulties like anxiety and depression were the largest cause. This operates as feedback loop. The longer someone is out of work, the more likely they are to become depressed and the longer someone is depressed, the harder they find it to get back to work. This can cause long-term unemployment, independently of the economic situation. Initially this is an economic problem causing a mental health problem but, relatively quickly, it becomes a mental health problem causing an economic problem.

This article was published online by TheJournal.ie on May 13, 2014
Link to article here

Related Publications
'Mental Health: The New Frontier for Labour Economics', Centre for Economic Performance Discussion Paper No.1213, May 2013

Related Links
Richard Layard webpage
Wellbeing Programmewebpage

News Posted: 13/05/2014      [Back to the Top]

Gaston Gazette

7 keys to happiness that money can't buy

Since 1956, the average American's disposable income (in today's dollars) has tripled from $9,431 to $27,792, according to data from the Bureau of Economic Analysis. However, as reported in the book, Happiness, by Richard Layard, people's level of happiness hasn't increased at all during that time.

This article was published online by the Gaston Gazette on May 13, 2014
Link to article here

Related Publications
Happiness: Lessons from a New Science (2nd Edition) Richard Layard, Penguin (April 2011)
Details

Related Links
Richard Layard webpage
Wellbeing Programmewebpage

News Posted: 13/05/2014      [Back to the Top]

Daily Mail

Australia is the most expensive G20 country to live in: Economists say mining boom is behind local price increases

The high prices reflect that people want to live in Australia, according to John Van Reenen, the director of the centre for economic performance at the London School of Economics. 'However, as the commodity boom and China's growth slows, Australia will face a more challenging time ahead,' Professor Van Reenen said.

This article was published in the Daily Mail on May 12, 2014
Link to article here

Related Links
John Van Reenen webpage
Productivity and Innovation Programme webpage

News Posted: 12/05/2014      [Back to the Top]

Guardian.co.uk

UK property market - what will the Bank of England do next?

In the long run, the answer to Britain's out-of-kilter housing market is an increase in the supply of homes. Paul Cheshire, an academic at the London School of Economics, says there has been a slowdown in the number of new homes built: from 4.3m in the two decades covering the 1970s and 1980s to 2.7m.

This article was published online by guardian.co.uk on May 11, 2014
Link to article here

Related publications
Turning houses into gold: the failure of British planning, Paul Cheshire. Article in CentrePiece Volume 19, Issue 1, Spring 2014
Turning houses into gold: the failure of British planning, Paul Cheshire. LSE British Politics and Policy blog, posted May 7, 2014.

Related links
Paul Cheshire webpage
Spatial Economics Research Centre (SERC) website


News Posted: 11/05/2014      [Back to the Top]

The Sunday Times Online

Economic Outlook: House price hysteria is not justified — for now

Nipping it in the bud too soon, despite justifiable concerns about house prices in some areas, could backfire. Professor Paul Cheshire, in a spirited piece for the London School of Economics' CentrePiece magazine, estimates that from 1994 to 2012 between 1.6m and 2.3m fewer houses were built than were needed.

This article was published in The Sunday Times on May 11, 2014
Link to article here

Related publications
Turning houses into gold: the failure of British planning, Paul Cheshire. Article in CentrePiece Volume 19, Issue 1, Spring 2014

Related links
Paul Cheshire webpage
Spatial Economics Research Centre (SERC) website

News Posted: 11/05/2014      [Back to the Top]

Centre for Economic Performance Press Release

New research findings from CEP

New research reports from the Centre for Economic Performance (CEP) at the London School of Economics are highlighted in the Spring 2014 issue of CentrePiece magazine.

  • Social housing: Natives and immigrants both suffer from failure to increase stock

  • Big data: Lessons from the economic impact of the transatlantic telegraph cable

  • Minimum wages: Growing popularity with voters as a way of tackling inequality

  • New technology: Gains for nurses, teaching assistants and medical technicians

  • American management: More intensive use of ICT linked to better practices

  • Gender gaps: Lab experiments find differences in attitudes to risk and competition

  • Planning: Don't blame the foreigners: it's we Brits who turned houses into gold

  • Pay: The prospects of significant wage increases for typical UK workers are bleak

  • Education: Better school management is associated with better pupil achievement


  • The CEP press release was published online on May 8, 2014
    Link to press release here.


News Posted: 08/05/2014      [Back to the Top]

Reuters

Nobel economists, others urge end to 'war on drugs'

Christopher Pissarides and other Nobel prize winners among signatories of a new academic report on global anti-drugs policies urging the UN to adopt different policies.

This article was published online by Reuters on May 6, 2014
Link to article here

Related links
Christopher Pissarides webpage
Macro Programme webpage

News Posted: 06/05/2014      [Back to the Top]

Economica Digital

El problema de Espana: 'Sin penas de prision no se disuade el delito fiscal'

The problem of Spain: No deterrent for fiscal offences without imprisonment for perpetrators
... Luis Garicano, con su libro El dilema de Espana. Si los gobernantes no interiorizan que deben reformar las instituciones del estado, Espana no sera un pais moderno, que pueda competir en el mundo globalizado
... Economist Luis Garicano, with his book The Dilemma of Spain. If the rulers don't realize that they must reform the institutions of the State, Spain will not be a modern country, that can compete in a globalized world

This article was published online by Economica Digital on May 3, 2014
Link to article here

Related publications
El Dilema De Espana, Luis Garicano. Published by Grup 62, January 2014 Details here

Related Links
Luis Garicano webpage
Productivity and Innovation Programme webpage

News Posted: 03/05/2014      [Back to the Top]

Planning resource

Housing affordability crisis blamed on green belt policy

Green belt polices that aim to keep ''the urban unwashed out of the Home Counties'' are causing a housing affordability crisis, according to a London School of Economics (LSE) professor. Britain's booming house prices have been caused by ''decades of planning policies that constrain the supply of houses and land'', according to a study by Paul Cheshire, professor emeritus of economic geography at the LSE's Centre for Economic Performance.

This article was published by Planningresource online on May 2, 2014
Link to article here

Related publications
Turning Houses into Gold: the Failure of British Planning, Paul Cheshire. Article in CentrePiece Volume 19, Issue 1, Spring 2014.

Related links
Paul Cheshire webpage
SERC website

News Posted: 02/05/2014      [Back to the Top]

Wall Street Journal blog - Real Time Economics

BOE may have long wait for real wage rise

Bank of England Gov. Mark Carney this week stressed that the U.K.'s economic recovery will only become sustainable when there are ''substantial'' increases in real wages. But in research published by the London School of Economics, two leading British economists say there are good reasons to doubt that real wages will pick up any time soon. One of the authors, David Blanchflower, is a professor of economics at Dartmouth College in Hanover, N.H., and a former member of the Bank of England's Monetary Policy Committee. The other, Stephen Machin. is a professor of economics at University College London and a member of the Low Pay Commission.

This article was published in the Wall Street Journal blog - Real Time Economics on May 1, 2014
Link to article here

Related publications
Falling Real Wages, David Blanchflower and Stephen Machin. Article forthcoming in CentrePiece Vol 19, Issue 1, Spring 2014

Related links
Stephen Machin webpage
Labour Markets Programme webpage

News Posted: 01/05/2014      [Back to the Top]

Wall Street Journal (US)

British household lending highest since financial crisis

Research by the London School of Economics suggests wages won't grow substantially for some time, suggesting debt will grow further in order for consumer spending to continue to rise. ''It is quite clear that the economy is still well below full employment and there is a large amount of slack in the labor market,'' former Bank of England member David Blanchflower, currently a professor of economics at Dartmouth College in Hannover, N.H., and Stephen Machin, professor of economics at University College London and a member of the Low Pay Commission, said in the LSE research. ''We see little evidence of widespread skill shortages, which would push up wages; and public sector pay freezes with continuing redundancies continue to push down on workers' bargaining power.''

This article was published in the Wall Street Journal (US) on May 1, 2014
Link to article here

Related publications
Falling Real Wages, David Blanchflower and Stephen Machin. Article forthcoming in CentrePiece Vol 19, Issue 1, Spring 2014

Related links
Stephen Machin webpage
Labour Markets Programme webpage

News Posted: 01/05/2014      [Back to the Top]

Macleans.ca

Italy's stay-at-home kids

48 per cent of European adults between 18 and 30 now live with their parents, an increase from 44 per cent at the onset of the economic crisis in 2007. But the highest number is in Italy, with 79 per cent. That's up from about 60 per cent a few years ago, according to a separate report. ... In a 2005 paper written for the Centre for Economic Policy Research [sic] in the UK, economists Marco Manacorda and Enrico Moretti wrote that while high youth unemployment (now at 42 per cent) plays a role in these living arrangements, the main factor is that Italian parents want their children to live with them. The parents essentially bribe their children to stay home by feeding them, doing their laundry and giving them money in exchange for care and companionship.

This article was published online by Macleans.ca (Canada) on April 27, 2014
Link to article here

Related publications
Intergenerational Transfers and Household Structure. Why Do Most Italian Youths Live With Their Parents?, Marco Manacorda and Enrico Moretti, Centre for Economic Performance Discussion Paper No.536, June 2002
Mamma's boys? Why most young Italian men live with their parents, Marco Manacorda and Enrico Moretti. Article in CentrePiece Volume 10, Issue 3, Winter 2005
Why Do Most Italian Youths Live with their Parents? Intergenerational Transfers and Household Structure, Marco Manacorda and Enrico Moretti, Journal of the European Economic Association, 4: 800-829, June 2006

Related links
Marco Manacorda webpage
Labour Markets Programme webpage


News Posted: 27/04/2014      [Back to the Top]

Western Daily Press

Wind farms 'slashing house prices by half' in Devon

''Recently there have been reports published by the LSE (London School of Economics) concluding that house values within close proximity of a wind farm are reduced by up to 11 per cent - however, here on the ground in Devon when houses are near a single wind turbine, estate agents are recommending huge discounts of between 40 and 50 per cent in some cases - if they're saleable at all,'' said Mrs Mills.

This article was published in the Western Daily Press on April 23, 2014
Link to article here

Related publications
'Gone with the Wind: Valuing the Visual Impacts of Wind Turbines through House Prices', Stephen Gibbons, SERC Discussion Paper No.159, April 2014 Related Links
Steve Gibbons webpage
SERC website


News Posted: 23/04/2014      [Back to the Top]

Radio Times

How to be happy

The Labour government recognised the devastating effect mental illness has on millions of people and did something about it. Lord Richard Layard was commissioned to oversee a plan to train 10,000 new counsellors offering basic psychological therapy to all who ask for it.

This article was published by the Radio Times on April 15, 2014
Link to pdf of the article here

Related publications
Wellbeing and Policy, Gus O'Donnell, Angus Deaton, Martine Durand, David Halpern and Richard Layard, Legatum Institute Report, March 2014
For more CEP publications by Richard Layard, click here.

Related links
Richard Layard webpage
Wellbeing Programme webpage

News Posted: 15/04/2014      [Back to the Top]

Wirtschaft Glück

Das Bruttoinlandproduktistnur Mittel zum Zweck

Der Ökonom Richard Layard gilt als Vordenker mehrerer britischer Regierungen. Jetzt fordert er einen radikalen Kurswechsel in der Wirtschaftspolitik: Staaten sollten nicht versuchen, das Wachstum zu steigern, sondern das Glück ihrer Bürger.
The means to an end
The economist Richard Layard is regarded as pioneer of several British Governments. Now he calls for a radical change of course in economic policy: States should not try increasing the growth, but the happiness of its citizens.

This article was published by Wirtschaft Glück on April 13, 2014
Link to pdf copy of the article here

Related publications
Wellbeing and Policy, Gus O'Donnell, Angus Deaton, Martine Durand, David Halpern and Richard Layard, Legatum Institute Report, March 2014

Related links
Richard Layard webpage
Wellbeing Programme webpage

News Posted: 13/04/2014      [Back to the Top]

Guernsey News

Early mental treatment 'saves £50m'

A new report by the charity and the London School of Economics claims that over two to five years, investment in early detection services could save the NHS £50 million a year. ''Too much'' of the current budget to treat psychosis is being spent on costly inpatient care, rather than community care which can prevent people from becoming seriously unwell in the first place, the report states.

This article was published in the Guernsey News on April 10, 2014
Link to article here

Related publications
Investing in Recovery: Making the Business Case for Effective Interventions for People with Schizophrenia and Psychosis, Martin Knapp, Alison Andrew, David McDaid, Valentina Iemmi, Paul McCrone, A-La Park, Michael Parsonage, Jed Boardman and Geoff Shepherd

Related Links
Martin Knapp webpage
Wellbeing webpage


News Posted: 10/04/2014      [Back to the Top]

guardian.co.uk

Windfarms can reduce house prices by up to 12%, says LSE

Large windfarms can knock as much as 12 percent off the values of homes within a 2km radius, and reduce property prices as far as 14km away, according to research by the London School of Economics. The findings contrast sharply with a report by the Centre for Economics and Business Research in March, which found no negative impact on property prices within a 5km radius of a turbine.

This article was published online by guardian.co.uk on April 8, 2014
Link to article here

Related publications
'Gone with the Wind: Valuing the Visual Impacts of Wind Turbines through House Prices', Stephen Gibbons, SERC Discussion Paper No.159, April 2014 Related Links
Steve Gibbons webpage
SERC website


News Posted: 08/04/2014      [Back to the Top]

BBC News - Business

Move over, GDP: How should you measure a country's value?

There have been several other attempts at complementing or replacing GDP. Sir Gus O'Donnell explains the impact wellbeing research is having on policy. The UN implemented the human development index, the OECD has a ''better life index'' and even the UK's own Office for National Statistics measures national wellbeing. Recently, Sir Gus O'Donnell, a former senior civil servant in the UK, published a wellbeing and policy report, which investigated the main economic, social and personal drivers of happiness. ... But there are those who resist the idea that GDP cannot map welfare. Nick Oulton, of the London School of Economics, argues that economic growth can be a good measure of a country's wellbeing. ''It won't solve all problems, but a rise in wealth can lead to declines in infant mortality, increased life expectancy, and people getting healthier because they can afford to eat more food,'' he says.

This article was published online by BBC News - Business on April 3, 2014
Link to article here

Also in
UK Wired News

Related publications
'Wellbeing and Policy', Gus O'Donnell, Angus Deaton, Martine Durand, David Halpern and Richard Layard, Legatum Institute Report, March 2014
Link to report here
Nicholas Oulton's CEP publications

Related links
Richard Layard webpage
Wellbeing Programme webpage
Nicholas Oulton webpage
Productivity and Innovation Programme webpage

News Posted: 03/04/2014      [Back to the Top]

Canberra Times

ECB to blame for eurozone

Professor Luis Garicano, from the London School of Economics, said the economic models used to predict inflation seem to be breaking down, leading to serial misjudgments. ''They need to take very serious action,'' he told the Financial Times.

This article was published online by the Canberra Times (Australia) on April 3, 2014
Link to article here

Also in:
Sydney Morning Herald Link to article here
Melbourne Age Link to article here
Republica.com Link to article here

Related publications
El dilema de Espana, Luis Garicano. Book published in January 2014.
Details.

Related links
Luis Garicano webpage
Productivity and Innovation Programme webpage

News Posted: 03/04/2014      [Back to the Top]

The Daily Telegraph

Europe is incubating an even bigger debt crisis by letting deflation take root

Professor Luis Garicano, from the London School of Economics, said the economic models used to predict inflation seem to be breaking down, leading to serial misjudgments. ''They need to take very serious action,'' he told the Financial Times.

This article was published in The Daily Telegraph on April 3, 2014
Link to article here

Related publications
El dilema de Espana, Luis Garicano. Book published in January 2014.
Details.

Related links
Luis Garicano webpage
Productivity and Innovation Programme webpage

News Posted: 03/04/2014      [Back to the Top]

Financial Times

Spain looks to the ECB to help it escape deflation trap

''I think they [the ECB] need to take very serious action'', says Luis Garicano, a professor of economics at the London School of Economics. ''The thing is that inflation has been consistently surprising us on the downside. We are in a territory where the models and analysis used by policy makers don't seem to be working. And that is very worrying.''

This article was published in the Financial Times on April 3, 2014
Link to article here

Related publications
El dilema de Espana, Luis Garicano. Book published in January 2014.
Details.

Related links
Luis Garicano webpage
Productivity and Innovation Programme webpage

News Posted: 03/04/2014      [Back to the Top]

Fox Business

The pay gap is alive and well — and hurting women

Economist Alan Manning of the London School of Economics also found that the pace of the declines in the pay gap has slowed down, and that working women could make less than men for the next 150 years due to discrimination.

This article was published online by Fox Business on April 2, 2014
Link to article here

Related Publications
Alan Manning CEP publications webpage

Related Links
Alan Manning webpage
Labour Markets webpage

News Posted: 02/04/2014      [Back to the Top]

El Economista

El economista Luis Garicano presentará un libro y ofrecerá dos conferencias en la UVA este miércoles y jueves

El catedrático de Economía y Estrategia en la London School of Economics Luis Garicano presenta este miércoles, 2 de abril, en el Aula Magna Fuentes Quintana de la Facultad de Ciencias Económicas y Empresariales de la Universidad de Valladolid (UVA) su libro 'El dilema de España. Ser más productivos para vivir mejor'.
Professor of Economics and Strategy at the London School of Economics Luis Garicano presents this Wednesday, April 2, at the Aula Magna Fuentes Quintana, Faculty of Economics and Business Administration from the University of Valladolid (UVA) his book 'El dilema de España. Ser más productivos para vivir mejor'.

This article was published by El Economista on April 2, 2014
Link to article here

Also in:
La Vanguardia
Lainformacion.com

Related publications
El dilema de España, Luis Garicano, January 2014 – more details

Related Links
Luis Garicano webpage
Productivity and Innovation webpage

News Posted: 02/04/2014      [Back to the Top]

Japan Times

Calculating a nation's well-being instead of GDP

And such a target can be established. Indeed, a group of economists (including me) concluded in a report commissioned by the Legatum Institute that, despite its apparent subjectivity, ''wellbeing'' - or life satisfaction - can be measured robustly, compared internationally, and used to set policies and judge their success. The task for governments is to commit to putting this focus on well-being into practice.

This article was published in The Japan Times on April 1, 2014
Link to article here

Related publications
'Wellbeing and Policy', Gus O'Donnell, Angus Deaton, Martine Durand, David Halpern and Richard Layard, Legatum Institute Report, March 2014
Link to report here

Related links
Richard Layard webpage
Gus O'Donnell webpage
Wellbeing Programme webpage

News Posted: 01/04/2014      [Back to the Top]

The Economist

Happy now?

The commission's authors (who include Richard Layard, an academic who has long supported more use of well-being indices in policy), favour the second measure of general satisfaction with life. More comprehensive cross-country measurements, they suggest, might help governments adopt useful innovations from other countries. Many considerations turn out to be widely shared across cultures. Work matters more for psychological reasons than pecuniary ones. Trust in one's local community figures highly as a source of mental ease. Physical environments and good urban planning also figure highly . Emotional health might be enhanced by inculcating virtues like resilience more energetically at school.

This article was published by the Economist online on March 27, 2014
Link to article here

Related Publication
'Wellbeing and Policy', Gus O'Donnell, Angus Deaton, Martine Durand, David Halpern and Richard Layard, Legatum Institute Report, March 2014
Link to report here

Related Links
Richard Layard webpage
Gus O'Donnell webpage
Wellbeing Programme webpage

News Posted: 27/03/2014      [Back to the Top]

The Wall Street Journal (Europe)

Do CEOs of family-owned businesses work less?

Professors at Harvard Business School, the London School of Economics and Columbia University's business school examined the schedules of 356 chief executives in India and found that family CEOs worked 8 percent fewer hours than managers without genetic ties to their companies. The researchers found similar disparities in Brazil, Britain, France, Germany, Italy and the U.S. The incentives and risks that motivate professional CEOs to burn the midnight oil just might not be a factor for family CEOs, said Raffaella Sadun, a Harvard strategy professor and one of the study's authors.

This article was published by The Wall Street Journal (Europe) on March 7, 2014
Link to article here

Related publications
'Managing the Family Firm: Evidence from CEOs at Work', Oriana Bandiera, Andrea Prat and Raffaella Sadun, Centre for Economic Performance Discussion Paper No.1250, December 2013

Related links
Raffaella Sadun webpage
Productivity and Innovation Programme webpage

News Posted: 07/03/2014      [Back to the Top]

LesEchos.fr

Des villes médiévales aux blocages actuels de la France

Au Moyen Age, les Anglais batissent leurs villes au bord des fleuves ; les Francais, sur les ruines des cites romaines. La centralisation du pouvoir debouche sur une aberration economique. Comme aujourd'hui.
L'article qu'ils ont le plus consulte le mois dernier compare l'implantation des villes en France et en Angleterre ... sous l'Empire romain et au Moyen Age. Il peut evidemment paraitre farfelu de s'interesser a un tel sujet en ces temps d'activite asthenique, de drames sociaux et de tentations populistes. C'est pourtant sans doute necessaire pour mieux comprendre l'economie. ...

This article was published by LesEchos.fr on January 28, 2014
Link to article here

See also
Article refers to Vox piece by Guy Michaels and Ferdinand Rauch - Can history leave towns struck in places with bad locational fundamentals?, December 2013

Related publications
'Resetting the Urban Network: 117-2012', Guy Michaels and Ferdinand Rauch, Centre for Economic Performance Discussion Paper No.1248, November 2013

Related links
Guy Michaels webpage
Ferdinand Rauch webpage
Labour Markets Programme webpage

News Posted: 28/01/2014      [Back to the Top]

Social Europe Journal

Why increasing the minimum wage does not necessarily reduce employment

Article by Alan Manning
Alan Manning takes a close look at the economics and the evidence of these claims, finding that one of their basic assumptions, that labor markets are highly competitive, does not hold.

The article was published by the Social Europe Journal on January 27, 2014
Link to article here

Related Publications
'Minimum Wages and Wage Inequality: Some Theory and an Application to the UK', Tim Butcher, Richard Dickens and Alan Manning, Centre for Economic Performance Discussion Paper No.1177, November 2012

Related Links
Alan Manning webpage
Labour Markets webpage

News Posted: 27/01/2014      [Back to the Top]

The Washington Post

Minimum wage hike gets broad support in Britain

An increase in the minimum wage is not yet a done deal in Britain, with an independent panel that plays a critical role in the process expected to weigh in next month. But analysts say it's overwhelmingly likely now that all the major parties have lined up in favor. In Osborne's comments this month, he suggested that he wants to see the wage rise to seven pounds by next year, or about a 10 percent hike. Experts say such a significant increase could have a big impact on the labor market in Britain - and not just for the 1.4 million workers who earn the minimum. Millions more workers could also see their wages rise as employers seek to keep pace with a rising pay floor.

''That would be a very large increase at a time when average incomes aren't going up much at all'', said Alan Manning, a professor at the London School of Economics who studies the minimum wage. ''It really would be a leap into the unknown.''

This article was published by The Washington Post on January 27, 2014
Link to article here

Related Publications
'Minimum Wages and Wage Inequality: Some Theory and an Application to the UK', Tim Butcher, Richard Dickens and Alan Manning, Centre for Economic Performance Discussion Paper No.1177, November 2012

Related Links
Alan Manning webpage
Labour Markets webpage

News Posted: 27/01/2014      [Back to the Top]

FirstPost.business

Good management: US cos retain global crown, Indian firms poorly run

New York: When it comes to good management the US is on the top of the world followed by Germany, Japan, Sweden and Canada, while China's tail of poorly run firms is shorter than India's, says a study by Stanford University professor Nicholas Bloom and John Van Reenen of the London School of Economics.

Bloom and Van Reenen have focused on three boilerplate management techniques - setting targets, rewarding performance and measuring results - and weighed the performance of over 10,000 firms in 20 countries against these three metrics. The Economist reported that 150 researchers have been employed to ''guarantee the robustness'' of the ongoing study's results.


This article was published online on FirstPost.Business on January 23, 2014
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
'Why Do Management Practices Differ Across Firms and Countries?', Nicholas Bloom and John Van Reenen, Centre for Economic Performance Occasional Paper No.26, August 2010

Related links
Nicholas Bloom webpage
John Van Reenen webpage
Productivity and Innovation Programme webpage
Management research webpage

News Posted: 23/01/2014      [Back to the Top]

The Economist

Measuring management

For the past decade a group of economists, including Nicholas Bloom of Stanford University and John Van Reenen of the London School of Economics, have been trying to bring some rigour to the argument. They have focused on three commonly accepted management techniques - setting targets, rewarding performance and measuring results - and studied the performance of more than 10,000 organisations in 20 countries in the light of how well they implement these techniques. They have employed about 150 researchers and rigorous econometric methods to guarantee the robustness of their results. Their study is still a work in progress. But it nevertheless promises to be nothing less than the Domesday Book of the management age.

This article was published in The Economist on January 17, 2014
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
'Why Do Management Practices Differ Across Firms and Countries?', Nicholas Bloom and John Van Reenen, Centre for Economic Performance Occasional Paper No.26, August 2010

Related links
Nicholas Bloom webpage
John Van Reenen webpage
Productivity and Innovation Programme webpage
Management research webpage

News Posted: 17/01/2014      [Back to the Top]

The Conversation

The happiness agenda makes for miserable policy

According to Richard Layard, perhaps the leading advocate of happiness, well-being should be the new ''frontier of the welfare state''.

This article was published online by The Conversation on January 9, 2014
Link to article here

Related publications
Wellbeing and mental health need to be the new frontier for the welfare state, Richard Layard, LSE British Politics and Policy blog, March 7, 2012

Related Links
Richard Layard webpage
Wellbeing Programme webpage

News Posted: 09/01/2014      [Back to the Top]

FT.com

Pros and cons of raising the UK minimum wage

In a recent research paper, Professor Alan Manning of the London School of Economics, who supports a higher minimum wage, wrote that the evidence suggests ''substantial increases, even if pursued over a few years, would need to be made incrementally and with a great deal of caution''.

This article was published online by FT.com on January 7, 2014
Link to article here

Related publications
'Minimum Wages and Wage Inequality: Some Theory and an Application to the UK', Tim Butcher, Richard Dickens and Alan Manning, Centre for Economic Performance Discussion Paper No.1177, November 2012

Related links
Alan Manning webpage
Labour Markets Programme webpage



News Posted: 07/01/2014      [Back to the Top]

The Telegraph (web)

HS2: Government ministers sat on critical report by Department for Transport

The report, by the accountants KPMG, has been repeatedly quoted by ministers - including the Chancellor, George Osborne - to defend their £43 billion scheme... The KPMG research has already been substantially discredited, with one former member of the Government's HS2 advisory panel, Prof Henry Overman, saying it was ''technically wrong'' and ''essentially made up''.

This article was published online by the Telegraph on January 4, 2014
Link to article here

Related publications
HS2: assessing the costs and benefits, Henry Overman. Article in CentrePiece 16 (3) Winter 2012


Related links
Henry Overman webpage
SERC Programme website

News Posted: 04/01/2014      [Back to the Top]

Conservative Home

The artificial stupidity of our politics is no match for the rise of artificial intelligence

Perhaps we simply assume that technological progress will always create more jobs than it destroys. It would seem reasonable to do so - after all, 2013 was the year when the number of people in work reached thirty million for the first time in our history. Despite the overall rise in employment, the warning signs are clear: ''What is sobering is that we have already seen convincing evidence of the impact of technology on the job market. Alan Manning of the London School of Economics coined the term 'job polarisation' a decade ago, when he discovered that employment in the UK had been rising for people at the top and the bottom of the income scale. There was more demand for lawyers and burger flippers. It was middle-skill jobs that were disappearing.''

This article was posted on Conservative Home online on January 2, 2014
Link to article here

Related links
Alan Manning webpage
Labour Markets Programme webpage
Community Programme webpage

News Posted: 02/01/2014      [Back to the Top]