CEP LSE RSS Contact Us YouTube Facebook Twitter

News and Press

News Archive 2014

Huffington Post

Managing Our Minds: The Economic Case for Investment in Mental Health

Lord Richard Layard of the LSE has campaigned heavily for increased expenditure in mental health care, having demonstrated the economic viability of taking such measures. Layard estimates that the costs of providing Cognitive Behavioural Therapy to all those who need it would be quickly recovered, and that the longer-term impact on the economy would be wholly positive.

This article appeared in the Huffington Post on 17 December 2014 link to article

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


Related links
Richard Layard webpage
Wellbeing webpage

News Posted: 17/12/2014      [Back to the Top]

Psychology Today

Thick Presence: Taking Collaboration One Step Further

Last year, a study by the Centre for Economic Performance at the London School of Economics found that participants ranked “paid work” second to last out of 39 activities.

This article appeared in Psychology Today on 17 December 2014 link to article

Related Publications
Are You Happy While You Work? Alex Bryson, George MacKerron, February 2013 Paper No' CEPDP1187 link to article

Related Links
Alex Bryson webpage
Labour Markets webpage

News Posted: 17/12/2014      [Back to the Top]

International New York Times

Along with art and jewels, the rich now collect passports

“These programs bring huge benefits to the Russian oligarchs or the various Chinese wanting to benefit from the rule of law, good educations and robust capital markets,” said David Metcalf, chairman of the British government’s Migration Advisory Committee and a professor emeritus at the London School of Economics. “But the fundamental question is, What does everyone else get out of it?”

This article appeared in the International New York Times on 15 December 2014 link to article

Also in:
CNBC
Latest rich collectible: Passports link to article

Weekly Voice
Collecting passports is the new fad for those with the money link to article

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

News Posted: 15/12/2014      [Back to the Top]

The Financial Express Bangladesh

How's life with rural people?

Richard Layard in his book 'Happiness: Lessons from a New Science' notes that as the Western societies got richer, their people have not become happier.

This article appeared in the Financial Express on 10 December 2014 link to article

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: 10/12/2014      [Back to the Top]

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]

Mail Online UK

Wind farms 'have no significant effect' on house prices, claims study

This research, which was recently published in the journal Canadian Journal of Agricultural Economics, is the first peer-reviewed study on the subject. It contradicts research earlier this year by the London School of Economics (LSE) which found that values of homes within 1.2 miles (1.9km) of large wind farms were being slashed by about 11 per cent.

This article appeared in the Mail Online on 9 December 2014 link to article

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: 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]

Reuters

Can we live the good life without economic growth?

The life of the mind encompasses a broad array of human preoccupations: values, creativity, the appreciation of beauty, intellectual curiosity and the struggle to make sense of our lives. Consuming more stuff doesn’t necessarily help us do any of this. Indeed, studies by economists such as Richard Layard suggest that, beyond a certain point, additional income does nothing to promote happiness.

This article appeared in Reuters on 8 December 2014 link to article

Also in:
The New York Times link to article
Breaking Views link to article

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: 08/12/2014      [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]

The Guardian

What should we do with private schools?

Over the last decade or so, however, it has been from economists at the London School of Economics, notably Jo Blanden and Stephen Machin, that the highest-profile and most influential findings on social mobility have come. This has been, above all, through their use of two birth cohort studies – one of them tracking the lives of all children born in Britain in one week in 1958, the other doing the same for the children of one week in 1970. In essence, they have found that the economic status of the 1970 cohort is, compared with the earlier cohort, more dependent on family background – and that accordingly, social mobility in early 21st century Britain is in decline.

This article appeared in the Guardian on 6 December 2014 link to article

Related Publications
A continuing downward trend in intergenerational mobility? Jo Blanden, Stephen Machin, October 2008 Paper No' CEPCP263
Changes in Intergenerational Mobility in Britain Jo Blanden, Alissa Goodman, Paul Gregg, Stephen Machin, January 2002 Paper No' CEPDP0517

Related Links
Jo Blanden webpage
Stephen Machin webpage
Education and Skills webpage
Labour Markets webpage

News Posted: 06/12/2014      [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]

The Daily Telegraph (Australia)

Deflation looms as Europe's bugbear

As well as conjuring up images of the 1920s hyperinflation, there are more immediate concerns - bond-buying could lead to German taxpayers being lumbered with the debts of countries like Greece, Italy and Portugal. A belief in sound finances is as German as Bavarian beer. "What Germans are worried about right now is the cancellation of southern European debt," said Albrecht Ritschl,, a professor of economic history at the London School of Economics.

This article appeared in The Daily Telegraph (Australia) on 4 December 2014 link to article

Also in: Northern Territory News
Cairns Post
The Australian
Geelong Advertiser
The Mercury

Related links
Albrecht Ritschl webpage
Macro Programme webpage

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

BBC News

News

John Van Reenen discusses the Autumn Statement and how the Chancellor might increase taxes to cut the UK deficit.
(no link available)

Also featured on:

BBC Radio 4, BBC Radio 2, BBC Devon, BBC Jersey, BBC Cornwall, BBC Radio Scotland, BBC Guernsey, BBC Leicester, BBC Nottingham, BBC Lincolnshire, BBC Bristol, BBC Gloucester, BBC Somerset, BBC Wiltshire, BBC London 94.9FM.

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]

SVD (Sweden)

Kan vi lita på vårt svenska skattesystem?

Hur kan det komma sig att de skandinaviska landerna kan ha sa starka ekonomier trots hoga skattetryck? I andra lander skulle fusket vara utbrett och folk sluta ga till jobbet. Fragan har lange intresserat ekonomer och politiker pa jakt efter den optimala samhalls - eller i vilket fall beskattningsmodellen. I det senaste numret av Journal of Economic Perspectives framhller danske Henrik Jacobsen Kleven, professor vid London School of Economics, tre aspekter av skattesystemet.
How can it be that the Scandinavian countries can have a strong economy despite high taxes? In other countries cheating would be widespread, and people would stop going to work. The issue has long interested economists and politicians in search of the optimal community or tax model. The latest issue of the Journal of Economic Perspectives highlights the Danish academic Henrik Jacobsen Kleven, Professor at the London School of Economics, on three aspects of the tax system.

This article was published online by SVD (Sweden) on November 26, 2014
Link to article here

Related publications
How can Scandinavians tax so much?, Henrik Jacobsen Kleven, Journal of Economic Perspectives. 28(4), Fall 2014


Related links
Henrik Kleven webpage
Labour Markets Programme webpage

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

The Huffington Post

Emotional health, not academic obsession

I am glad there is now an academic study by London School of Economics' Centre for Economic Performance to give credence to my deep personal beliefs. That a child's emotional health is far more important to their satisfaction levels as an adult than other factors. You can read more on Professor Lord Richard Layard's work here.

This article was published in The Huffington Post (UK edition) blog on November 26, 2014
Link to article here

Related links
Richard Layard webpage
Wellbeing Programme webpage

News Posted: 26/11/2014      [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 Guardian

We should not let universities decide how to spend money on poor students

Article by Gill Wyness
Decentralising forms of financial support may harm access and increase inequality says Gill Wyness. ... Universities are becoming more active in offering financial support to poor students, over and above what is provided by the government in maintenance loans and grants. The problem is, these decentralised forms of support - in which universities themselves decide who to support and how - may actually do more harm than good.

This article was published in the Guardian on November 19, 2014
Link to article here

Related publications
In brief...Economics of higher education, Richard Murphy and Gill Wyness. Article in CentrePiece Volume 18, Issue 3, Winter 2014

Related links
Gill Wyness webpage
Education and Skills 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]

Dinero en Imagen (Spain)

El future de los ejecutivos ante el ascenso de las maquinas

John Van Reenen de la Escuela de Economía de Londres tambien senala que muchos paises en desarrollo, particularmente India, tienen un largo rastro de companias mal administradas.

John Van Reenen from the London School of Economics also points out that many developing countries, particularly India, have a long trail of badly managed companies.

This article was published by Dinero en Imagen on November 16, 2014
Link to article here

Related publications
In brief - New technology: who wins, who loses?, John Van Reenen, Nicholas Bloom, Luis Garicano and Raffaella Sadun. Article in CentrePiece, Volume 19, Issue 1, Spring 2014

Related Links
John Van Reenen webpage
Nicholas Bloom webpage
Luis Garicano webpage
Raffaella Sadun webpage
Productivity and Innovation Programme webpage

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

El Mundo

Economia y estabilidad politica

El mismo Luis Garicano, de la London School of Economics, ha advertido sobre el doble ''peligro politico'' que supone el grupo de Pablo Iglesias y la reclamacion de independencia de Cataluna. Informes absolutamente justificados precisamente porque, a diferencia del mensaje oficial, resulta imposible afianzar una recuperacion economica sobre los endebles cimientos de un pais acosado por la debilidad institucional.

The same Luis Garicano of the London School of Economics, has warned about the double ''political danger'' posed by the Group of Pablo Iglesias and the claim of independence of Catalonia. Reports absolutely justified precisely because, unlike the official message, it is impossible to secure an economic recovery on the fragile foundations of a country beset by the institutional weakness.

This article was published by El Mundo (Spain) on November 16, 2014
Link to article here

Related links
Luis Garicano webpage
Productivity and Innovation Programme webpage

News Posted: 16/11/2014      [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]

FinanzNachrichten.de

Wissenschaftler schlagen synthetischen Euro-Bond vor

Nach den Vorstellungen A safe asset for Eurozone QE: A proposal von Luis Garicano (London School of Economics) und Lucrezia Reichlin (London Business School) soll die EZB namlich auch nicht die gesamte Euro-Anleihe kaufen, sondern nur ein daraus abgeleitetes Papier, das auf den sichersten 60 Prozent der Ursprungsanleihe beruht.

According to the ideas of Luis Garicano A safe asset for Eurozone QE: A proposal (London School of Economics) and Lucrezia Reichlin (London Business School), the ECB is namely not the entire euro buy bond issue, but only measures based on this paper, based on the most secure 60 percent of the original loan. This "safe securities" should in future be the only government bonds, in its balance sheet must hold no equity for the banks after the presentation of the authors.

This article was published by FinanzNachrichten.de on November 14, 2014
Link to article here

Also in:
Finanzen.at

Related links
Luis Garicano webpage
Productivity and Innovation Programme webpage

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

The Times

The growing love affair with a park

A team of researchers from Imperial College Business School and LSE found that property prices across the UK increase on average by about 3 per cent when internet speed doubles.

This article was published by The Times on November 14, 2014
Link to article here

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

Related Links
Gabriel Ahlfeldt webpage
Spatial Economics Research Centre (SERC) website

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]

Development Impact (World Bank)

Checking survey quality with Benford's law

Postscript - if you would like to try Benford's Law on a dataset you have, John Morrow has a web-based application that you can find here.

This article was published by Development Impact (World Bank) on November 7, 2014
Link to article here

Related Links
John Morrow webpage
Globalisation Programme webpage

News Posted: 07/11/2014      [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]

Telegiornale (Switzerland)

Merkel contro Cameron

In a Swiss TV report titled 'Merkel against Cameron', Professor John Van Reenen comments on the ultimatum handed to Prime Minister Cameron by the EU for the UK to pay out €2.1 billion, by December 1.

The report was broadcast by Telegiornale TV (Switzerland) on November 5, 2014
Link to the broadcast here

Related links
John Van Reenen webpage
Productivity and Innovation Programme webpage

News Posted: 05/11/2014      [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]

RTS (Switzerland)

Royaume-Uni: la grogne grandit parmi les employes les plus modestes

In a Swiss TV broadcast, Professor John Van Reenen speaks on austerity and salaries being frozen since 2007 - the beginning of the financial crisis.

The broadcast was made by RTS (Switzerland) on October 31, 2014
Link to broadcast here

Related links
John Van Reenen webpage
Productivity and Innovation Programme webpage

News Posted: 31/10/2014      [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]

La Nacion

Estalló el verano económico: moda y tendencias para el académico moderno y actual

Days ago, the economist Veronica Argentina Rappoport, professor at the London School of Economics, discussed in Twitter with Ivan Werning of MIT, about the reality of ''multidisciplinary'' at conferences. ''In many cases, instead of achieving communication, multidisciplinary conferences exacerbate divisions between disciplines'', Rappoport said.

This article was published by La Nacion on October 26, 2014
Link to article here

Also in
Yahoo! Mexico
Yahoo! En Espanol
Yahoo! Argentina
Yahoo! Colombia

Related links
Veronica Rappoport webpage
Globalisation Programme webpage

News Posted: 26/10/2014      [Back to the Top]

Financial Times

Why are recessions so depressing?

But perhaps we haven't taken the recession nearly seriously enough. That's the conclusion of Jan-Emmanuel De Neve, an economist at University College London and the London School of Economics. De Neve says that the "untold story" of the recession is its psychological cost. In plain language: recessions make us very sad. It might seem obvious that recessions are disheartening experiences. It’s not, for the simple reason that the link between economic growth and happiness is itself not obvious.

This article appeared in the Financial Times on 24 October 2014. Link to article here

Related Publications
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, George W. Ward, October 2014 Paper No' CEPDP1304

Related Links
Jan-Emmanuel De Neve webpage
Wellbeing webpage


News Posted: 25/10/2014      [Back to the Top]

Mail Online UK

High speed rail 'tsar' to spark fresh controversy with new HS2 route and stations recommendations

A panel of academic experts told the Treasury select committee that the report overstated the benefits by six to eight times. Henry Overman, professor of economic geography at the London School of Economics, who is to give evidence to the committee on Tuesday, said findings used a procedure that was 'essentially made up'.

This article appeared in the Daily Mail on October 24, 2014
Link to article here

Related Publications
HS2: assessing the costs and benefits Henry Overman, February 2012 Paper No' CEPCP361 in CentrePiece Vol. 16 Issue. 3 Winter

Related Links
Henry Overman webpage
SERC webpage
Globalisation webpage

News Posted: 24/10/2014      [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]

Adam Smith Institute Blog

Tired of London?

As the LSE’s Paul Cheshire points out, politicians haven’t stepped up to the plate. The coalitions’ Help to Buy policies are doing little (except pushing up prices), while Labour’s suggestion for partial controls on rents, increased security of tenure, and elimination of agent’s fees for finding housing for renters, will probably just decrease rental supply as fewer people want to become landlords.

This article appeared in the Adam Smith Blog on 14 October 2014 link to article

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

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

Golf Business News

Cable Off Line With Golf Comments Says PGA Chief

The Business Secretary’s comments came in relation to research by the London School of Economics that claimed more of Surrey is devoted to golf courses than housing with a total of 103 courses in the county.

This article appeared in 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]

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]

Correio Braziliense (Brazil)

Com sabor amargo

John Van Reenen, professor de economia da London School of Economics and Political Science (LSE), admite ao Correio que Cameron nao tem escolha a nao ser descentralizar o poder. ''Todos os principais partidos do ReinoUnido precisam delegar mais prestigio politico a Escocia; caso contrario, vao arriscar a realizacao de outro referendo'', explica aposta que havera ''substancialmente mais poderes devolvidos''

This article was published in Correio Braziliense (Brazil) on September 20, 2014
Link to article here

Related Publications
The Nays have It: Scotland IS Brave, John Van Reenen, 2014

Related Links
John Van Reenen webpage
Productivity and Innovation Programme webpage

News Posted: 20/09/2014      [Back to the Top]

Financial Times

Pay pressure

Prof John van Reenen, director of the Centre for Economic Performance at the London School of Economics, notes that average workers have been hit hardest. “Over time non-manual jobs have found their tasks taken over by computers and robots. Think of bank clerks and ATM machines,” he says. In Japan, it is the young who have been hurt worst as the traditional salaried jobs in big companies dwindled.

This article appeared in the Financial Times on 19 September 2014 link to article

Related Publications In brief - New technology: who wins, who loses? John Van Reenen, Nicholas Bloom, Luis Garicano, Raffaella Sadun, May 2014, Paper No' CEPCP418, CentrePiece 19 (1) Spring2014 pages: 6-7
The Distinct Effects of Information Technology and Communication Technology on Firm Organisation Nicholas Bloom, Luis Garicano, Raffaella Sadun and John Van Reenen, CEP Discussion Paper No. 927, May 2009, Revised June 2013

Related Links
John Van Reenen webpage
Productivity and Innovation webpage

News Posted: 19/09/2014      [Back to the Top]

Financial Times

Is the midlife crisis just an excuse?

However, research published earlier this year found an average midlife dip in happiness – or subjective wellbeing as it is described by economists – happened between 40 and 42. Professor Nattavudh Powdthavee, co-author of the longitudinal research across three countries, says this confirms previous studies that show a hill-shape relationship between age and the use of antidepressants.....
.....Dr Hannes Schwandt of Princeton University believes midlife, unlike infancy and old age, is under-researched. Last year, he published research focused on “unmet expectations”. It found the young are optimistic – perhaps even “over-optimistic” – while those in their forties and fifties feel regret, before making their peace in older age. “Perhaps people in middle age can learn from the elderly who feel less regret and have adapted,” he suggests....
.....Paul Dolan, professor of behavioural science at the London School of Economics, and author of Happiness by Design, believes we need a mix of purpose and pleasure in order to feel truly happy. In a forthcoming paper, he argues that much of the economic literature on midlife crises focuses on our evaluations of what makes us happy rather than our actual experiences.

This article appeared in the Financial Times on 18 September 2014 link to article

Related Publications
Unmet Aspirations as an Explanation for the Age U-Shape in Human Wellbeing Hannes Schwandt, July 2013, Paper No' CEPDP1229

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

News Posted: 18/09/2014      [Back to the Top]

The Economist

Paying the field

Some boosters point to studies, such as that by Gabriel Ahlfeldt of the London School of Economics, which show that house prices increase more rapidly in the vicinity of a new stadium.

This article appeared in The Economist on 18 September 2014 link to article

Related Publications
Form or function?: the impact of new football stadia on property prices in London Ahlfeldt, Gabriel M. and Kavetsos, SERC Discussion Papers , 87

Related Links
Gabriel Ahlfeldt webpage
SERC webpage

News Posted: 18/09/2014      [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]

In pursuit of happiness

Financial Times

As Richard Layard and David Clark explain in their brilliant and important book Thrive, “today one in six of all adults [in the UK, US and continental Europe] suffers from depression or a crippling anxiety disorder”. Such extreme misery, they argue, is much more debilitating than physical diseases such as angina or diabetes, which nonetheless attract many more resources.

This article appeared in the Financial Times on 12 September 2014 link to article

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

Related Links
Richard Layard webpage
David Clark webpage
Wellbeing webpage

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

Financial Times

UK's ‘happiness tsar' on the importance of mental health

Just off a hilly street in Highgate, north London, a front path leads to the 1900-era property covered in roses that is home to a man sometimes called the UK government’s “happiness tsar”. Richard Layard, a Labour peer and professor at the London School of Economics, earned the nickname after the 2005 publication of his book, Happiness: A New Science.

This article appeared in the Financial Times on 12 September 2014 link to article

Related Publications
Happiness: Lessons from a New Science (Second Edition) Richard Layard 2011

Related Links
Richard Layard webpage
Wellbeing webpage

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

The Independent

Spiralling costs of dementia 'being unfairly picked up by carers'

LSE professor of social policy Martin Knapp said many people with dementia and their families are essentially paying out £21,000 a year through the unpaid care provided by carers and covering the costs of social care.

This article appeared in the Independent on 10 September 2014 link to article

Related Links
Martin Knapp webpage
Wellbeing webpage

News Posted: 10/09/2014      [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 Sunday Times

This man wants to make us really happy

HAPPINESS BY DESIGN Finding Pleasure and Purpose in Everyday Life by PAUL DOLAN Allen Lane £20/ebook £11.99 pp235 Paul Dolan, a renowned behavioural scientist, a professor at the London School of Economics and a happiness expert, has a friend who works at a prestigious media company. At a recent lunch the friend spent the entire time talking obsessively about her unhappy working life: her diffi-cult boss, her commute, the tense environment. As lunch ended, she wrapped up by telling Dolan, without a trace of irony: "Of course, I love working there."

This article appeared in the Sunday Times on 7 September 2014 link to article

Related Links
Paul Dolan webpage
Wellbeing webpage

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

The Sunday Telegraph

Garden cities 'not housing solution

The number of homes to be created – 15,000 – will account for less than 1pc of the UK’s requirement, according to Paul Cheshire, professor of economic geography at the LSE. Mr Cheshire warned that undersupply of housing risks “more volatility in the economy”, as a more turbulent housing sector poses increased risks to the financial system.

This article appeared in the Sunday Telegraph on 7 September 2014 link to article

Also in: Remortgage.com

Related links
Paul Cheshire webpage
SERC website

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

The Independent

This man can make you……happy

His full name is Professor Paul Dolan, and he holds a chair in Behavioural Science at the LSE. He's worked with the Office for National Statistics and the government's Behavioural Insights Team – better known as the 'nudge' unit – and he counts Nassim Nicholas Taleb and the Nobel laureate Daniel Kahneman as fans.

This article appeared in The Independent on 6 September 2014 link to article

Related Links
Paul Dolan webpage
Wellbeing webpage

News Posted: 06/09/2014      [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]

The Economist

The internship: Generation i

Employees can experiment with different careers before choosing one. And for recruiters internships are a way to sift candidates, a harder process as work has become more complex. The rise of automation and outsourcing means graduate jobs now involve fewer routine tasks and more varied responsibilities, says John Van Reenen of the London School of Economics. That makes it difficult to judge candidates by their CVs.

This article appeared in the Economist on 4 September 2014 link to article

Also in: ACQ

Related Links
John Van Reenen webpage
Productivity and Innovation webpage

News Posted: 04/09/2014      [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]

Responding to Climate Change

Apollo mark two: UK climate envoy champions greentech fund

With a colleague, the economist Professor Lord Richard Layard, Sir David is working on a scheme to raise money to address this. “It’s called the Global Apollo Programme”, he explained. “We are urging all governments to form a commission to spend 0.02% of their GDP, which should raise US$10-20 billion/yr over 10 years, to fund R&D for low-carbon technology.

This article appeared in Responding to Climate Change on 2 September 2014 link to article

Related Links
Richard Layard webpage
Wellbeing webpage

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

Business Green Plus

Sir David King preps launch of $10bn global clean tech 'Apollo programme'

Sir David King has expressed hopes that ambitious plans for a global clean energy development programme modelled on the Apollo moon-landing mission could take a major step forward at this month's UN climate change meeting in New York. Speaking at a conference on mainstreaming the green economy hosted by the Green Economy Coalition, the former chief scientist and current Special Representative on Climate Change at the Foreign Office revealed a proposal he developed with economist Richard Layard for a global clean tech research, development and demonstration programme could be adopted at UN Secretary General Ban Ki-moon's imminent meeting of world leaders.

This article appeared on Business Green Plus on 2 September 2014 link to article

Related Links
Richard Layard webpage
Wellbeing webpage

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

El Pais

Draghi: una oferta que no debemos rechazar

Article by Luis Garicano
El curso economico europeo y espanol se abre con las malas noticias de crecimiento del PIB real y de los precios en la zona euro en el segundo trimestre y la respuesta ofrecida en un importante (y excelente) discurso el 22 de agosto en Jackson Hole por el presidente del Banco Central Europeo, Mario Draghi.

This article appeared in El País on 30 August 2014
Link to article here

Related links
Luis Garicano webpage
Productivity and Innovation Programme webpage

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

International Business Times

IMF lists 25 brightest young economists

CEP's Nick Bloom is one of the 25
The International Monetary Fund (IMF) has identified twenty-five young economists who it expects will shape the world's thinking about the global economy in the future - Nicholas Bloom, 41, British, Stanford University, uses quantitative research to measure and explain management practices across firms and countries. He also researches the causes and consequences of uncertainty and studies innovation and information technology.

This article was published by the International Business Times on August 30, 2014
Link to article here

Related Links
Nick Bloom webpage
Nick Bloom's CEP publications webpage
Productivity and Innovation Programme webpage
Management Practices and Organisational Structures Research webpage

News Posted: 30/08/2014      [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]

ISPreview

Estate Agent Claims Slow Broadband Can Wipe 25% off UK House Values

A recent study by LSE and the Imperial College Business School, which examined 15 years’ worth of data to identify the impact of faster Internet access on UK house prices, concluded that property prices increase by an average of around 3% when the available broadband speeds doubled.

This article appeared in ISPreview on 30 August 2014 link to article

Related Publications
Speed 2.0. Evaluating Access to Universal Digital Highways Speed Gabriel M. Ahlfeldt, Pantelis Koutroumpis, Tommaso Valletti, July 2014, Paper No' SERCDP0161

Related Links
Gabriel Ahlfeldt webpage
SERC webpage

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

Coventry Evening Telegraph

To Do List

PAUL DOLAN, a Professor of Behavioural Science at the London School of Economics, takes a cool, scientific look at how we can organise our lives to put more joy into them in Happiness By Design (Allen Lane, priced £20/ebook £8.03). Happiness, he says Dolan, lies in finding the right mix of pleasure and purpose - the feeling that what we're doing is worthwhile. For him, becoming happier is more to do with making small adjustments to what we do, rather than big changes - chatting to a stranger to liven up a boring queue, setting up out-of-office emails that make us laugh, minimising distractions - can mean more happiness.

This article appeared in the Coventry Evening Telegraph on August 30, 2014 (no link available)

Related Links
Paul Dolan webpage
Wellbeing webpage


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

The Globe and Mail (Canada)

Happiness is in the details; Behavioural scientist says it's not just a matter of adopting a sunny outlook, but taking notice of what makes one happy

Happiness is not simply a matter of adopting a sunny outlook, says Paul Dolan, a renowned happiness expert and professor of behavioural science at the London School of Economics and Political Science. It's about paying attention to the things that give you joy. In his new book, Happiness by Design: Change What You Do, Not How You Think, Dolan draws on a wealth of psychology and economics research to shed light on what causes happiness, and what prevents us from being happier. With amusing anecdotes, hard data and a delightful delivery, he explains how to engineer joy into your life by reallocating your attention to pleasurable and meaningful experiences.

This article appeared in the Globe and Mail on 29 August 2014 link to article

Related Links
Paul Dolan webpage
Wellbeing webpage


News Posted: 29/08/2014      [Back to the Top]

The Guardian

Review: NON-FICTION: Go on, make that change: Are you stuck in a rut?

Paul Dolan, an LSE economist and government well-being adviser - a man who knows his way around the Nudge Unit - has written the more businesslike of the two. The "science of happiness", he starts by pointing out, is full of bizarre and contradictory findings. Parents report that parenting makes life much more meaningful, yet seem to experience no more pleasure than non-parents; more money doesn't lead to more happiness, unless you frame the question differently, in which case it does. One problem, he argues, is that psychologists simply try to find out which "inputs" - income, work, marital status, age, religiosity and so on - are correlated with the "output" of happiness.

This article appeared in the Guardian on 27 August 2014 link to article

Related Links
Paul Dolan webpage
Wellbeing webpage

News Posted: 27/08/2014      [Back to the Top]

Evening Standard

Happiness: you can work it out

A professor of behavioural sciences at LSE, Dolan came from what he describes as a “lower working-class” family in east London to become one of the world’s leading experts in the emerging study of happiness. Daniel Kahneman, the fabled Nobel Prize-winning psychologist, views him as something of a protégé. The Office for National Statistics has employed him to help establish the framework of David Cameron’s national wellbeing survey. He is part of a wave of social scientists whose discoveries at once confound your expectations and provide an appreciable way of acting on that knowledge.

This article appeared in the Evening Standard on 23 August 2014 link to article

Related Links
Paul Dolan webpage
Wellbeing webpage

News Posted: 26/08/2014      [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]

The Economist

Treating mental illness: Body and soul

That is in part because many sufferers are ashamed to seek help, but it is also due to funding gaps and disorganisation within the NHS. The result is a system in crisis, says Sue Bailey, a former president of the Royal College of Psychiatrists. This failure is costly. Mental-health problems cause more suffering in Britain than physical illness, poverty or unemployment, according to Richard Layard, an economist and author of a book on happiness.

This article appeared in The Economist on 23 August 2014 link to article

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

Related Links
Richard Layard webpage
David Clark 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]

BBC London

News - Londoners lose out on 'happy scale'

Nick Powdthavee comments on happiness in London.

The interview was broadcast by BBC London News on August 21, 2014
Link to broadcast here

Related Links
Nattavudh Powdthavee webpage
Wellbeing Programme webpage

News Posted: 21/08/2014      [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]

The Independent

David Cameron should do some homework before sounding off about immigration and jobs

The impact of immigration on the labour market is a serious subject. And there has been some serious academic research on it. Work by Jonathan Wadsworth at the London School of Economics suggests that around 17 per cent of new hires in the economy have been going to people born outside the UK.

This article appeared in the Independent on 21 August 2014 link to article

Related Publications
Immigration, the European Union and the UK Labour Market Jonathan Wadsworth, May 2014 Paper No' CEPPA015

Related Links
Jonathan Wadsworth 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 Telegraph

Children of proactive mothers do better in exams, study finds

The study, by the Centre for Economic Performance (CEP), analysed data from more than 10,000 young people and their mothers, who have taken part in the Children of the 90s project. Data included a psychological measure of mothers’ expectations about how much of their own actions influenced their life outcomes, collected during the first trimester of pregnancy, which researchers found strongly predicted how well the children performed in exams aged 16.

This article appeared in the Telegraph on 18 August 2014 link to article

Related Publications
Locus of Control and Its Intergenerational Implications for Early Childhood Skill formation Francesca Cornaglia, Warn N. Lekfuangfu, Nattavudh Powdthavee, Nele Warrinnier, August 2014 Paper No' CEPDP1293

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

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

MSN News

The Beauty/Happiness Connection

The usual markers of happiness are colloquially known as the “Big Seven”: wealth (especially compared to those around you), family relationships, career, friends, health, freedom, and personal values, as outlined by London School of Economics professor Richard Layard in Happiness: Lessons from a New Science.

This article appeared on MSN News on 17 August 2014 link to article

Also in:
Soren Dreier link
The Atlantic link
The American Conservative link

Related Publications
Happiness: Lessons from a New Science (Second Edition) Richard Layard, 2011

Related Links
Richard Layard webpage
Wellbeing webpage

News Posted: 17/08/2014      [Back to the Top]

Daily Mail

Your fate really is in your hands - or at least, your children's GCSE results are

Research published by the London School of Economics' Centre for Economic Performance (CEP) shows that babies born to mothers who are strong believers that their fate is in their hands perform up to 17 per cent better in exams when they grow up. The study, which analysed data from the University of Bristol's Children of the 90s project – a long-term study of the attitudes and behaviour of 10,000 young people, tracked the formation of a key personality trait known as 'locus of control'.

This article appeared in the Daily Mail on 17 August 2014 link to article

Also in:
All Voices link
Capital Bay link

Related Publications
Locus of Control and Its Intergenerational Implications for Early Childhood Skill Francesca Cornaglia, Warn N. Lekfuangfu, Nattavudh Powdthavee, Nele Warrinnier, August 2014 Paper No' CEPDP1293

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


News Posted: 17/08/2014      [Back to the Top]

The Independent

David Blanchflower: The Bank now admits pay growth is going to be poor. They should have listened to me

The MPC’s forecasts on what would happen to wage growth have been poor once again. They refused to listen to commentators like my friends David Bell from the University of Stirling and Steve Machin from University College London and the Centre for Economic Performance and myself, who told them there was much more slack in the labour market than they thought and real wages weren’t set to rise any time soon. But they wouldn’t listen and now look at the fine mess they have gotten themselves into.

This article appeared in the Independent on 17 August 2014 link to article

Related Links
Steve Machin webpage
Labour Markets webpage

News Posted: 17/08/2014      [Back to the Top]

The Guardian

Mothers who believe they can shape their destinies give children a head start

Research published by the London School of Economics' Centre for Economic Performance (CEP) finds that babies born to mothers who hold a strong belief that their fates are in their hands, rather than down to luck, perform significantly better in their GCSEs 16 years later.

This article appeared in The Guardian on 17 August 2014 link to article

Also in: Gulf News

Related Publications
Locus of Control and Its Intergenerational Implications for Early Childhood Skill formation Francesca Cornaglia, Warn N. Lekfuangfu, Nattavudh Powdthavee, Nele Warrinnier, August 2014 Paper No' CEPDP1293

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


News Posted: 17/08/2014      [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]

The Wall Street Journal (Europe)

Europe's Youth Face a Dim Future

But by supporting their children financially, parents have unwittingly also blunted public pressure for changes to labor 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 appeared in the Wall Street Journal (Europe) on August 8, 2014
Link to article here

Related Links
Luis Garicano webpage
Productivity and Innovation webpage

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

City AM

Make Yourself at Home

Without the regulatory constraints imposed on our housing market, between 1974 and 2008, average house prices would have risen from £79,000 to £147,000, rather than to £226,000. That's according to a new report by Christian Hilber of the LSE and Wouter Vermeulen of UV University that looks at the impact of supply constraints on house prices in England.

This article appeared on 11 August 2014 link to article

Related Links
Christian Hilber webpage
SERC webpage

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

The Sunday Business Post (Ireland)

A call for justice for those with mental illness

Richard Layard and David M Clark insist that mental illness sufferers who do not receive treatment are the victims of marked injustice. The authors use political, intentionally provocative language to bolster their persuasive claims: they depict the treatment of mental illness as a humanitarian issue where human rights are consistently violated. To demonstrate, Thrive cites the discrepancy between how our health systems care for those with physical as opposed to mental illness: in most cases, physical illness is treated, but mental illness is not. ''Apart perhaps from global warming", they write of mental illness, ''there is no other major problem which is so neglected worldwide." So what can be done? The authors urge a substantial increase in the availability of evidence-based psychological therapies that monitor a patient's progress at each session. Cognitive Behavioural Therapy (CBT) is an example of one of these therapies. Its focus is equipping patients with the skills to manage their negative moods so that patients are less likely to get depressed when problems recur in their lives.

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

Related Links
Richard Layard webpage
David Clark webpage
Wellbeing Programme webpage

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

News

BBC Radio 4

Hilary Steedman discusses apprenticeships in Britain

This interview appeared on BBC Radio 4 on 8 August 2014 link to programme

Also on: BBC Radio Coventry and Warwickshire and BBC Northampton

Related Links
Hilary Steedman webpage
Education and Skills webpage

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

Daily Telegraph

Why UK house prices have grown faster than anywhere else

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. They find that house prices in England would have risen by about 100 percentage points fewer, after adjusting for consumer price inflation, from 1974 to 2008, in the absence of regulatory constraints to housebuilding. In other words, they would have shot up from £79,000 to £147,000, instead of £226,000. Another way of putting this is that prices would have been 35pc cheaper.

This article appeared in the Daily Telegraph on 6 August 2014 link to article

Also in: Yahoo! UK and Ireland

Related Links
Christian Hilber webpage
SERC webpage

News Posted: 06/08/2014      [Back to the Top]

Broadband Properties Magazine

Internet Speed Closely Linked to Property Values

Homeowners 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 a new study. The capital’s willingness to pay a premium for good Internet coverage strengthens the case for roll-out of high-speed broadband in densely populated areas, argue researchers from LSE and Imperial College Business School. In the first study of its kind, researchers have analyzed the value of broadband to English households, looking at the link between property prices and broadband availability. Statistics 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.

This article appeared in Broadband Properties Magazine on 5 August 2014 link to article

Also in:
Individual.com - 'London home owners pay premium for fast internet - study'
Xataka - Si quieres que tu casa se revalorice, instala fibra óptica

Related Publications
Speed 2.0. Evaluating Access to Universal Digital Highways Gabriel M. Ahlfeldt, Pantelis Koutroumpis, Tommaso Valletti, July 2014, Paper No' SERCDP0161

Related Links
Gabriel Ahlfeldt webpage
SERC webpage

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

SERC Blog by Gabriel Ahlfeldt

How to roll out high speed broadband in Britain

We find that property prices increase on average by about 3 per cent when internet speed doubles. Importantly, there are diminishing returns to speed. While the increase in value is even greater when starting from slow internet connections, an increase in nominal speed from 8 to 24 megabits per second raises the property value by no more than 1%. Another main finding is that the consumer surplus differs substantially across regions. It is highest in high income areas that are highly urbanized. As an example, the consumer surplus in London is almost twice as high as in any other of the English regions, reflecting very high usage in the capital city for both work and personal reasons.

This article appeared on the SERC Blog on 5 August 2014 link to article

Related Publications
Speed 2.0. Evaluating Access to Universal Digital Highways Gabriel M. Ahlfeldt, Pantelis Koutroumpis, Tommaso Valletti, July 2014, Paper No' SERCDP0161

Related Links
Gabriel Ahlfeldt webpage
SERC webpage

News Posted: 05/08/2014      [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]

Daily Express

Want to add three per cent to the value of house? Get better broadband

Doubling your internet speed could add around three per cent to the value of your home, says a new report out today. The London School of Economics and Political Science and the Imperial College Business School have looked at 15 years’ worth of data and discovered how broadband speeds affect house prices. Their research found that homes with fast connections were, on average, worth more than those with slower speeds.

This article appeared in the Daily Express on 4 August 2014 link to article

Related Publications
Speed 2.0. Evaluating Access to Universal Digital Highways Gabriel M. Ahlfeldt, Pantelis Koutroumpis, Tommaso Valletti, July 2014, Paper No' SERCDP0161

Related Links
Gabriel Ahlfeldt webpage
SERC webpage

Also in:
Thinkbroadband
Cable.co.uk
Telecompaper
ISPreview UK
TMC Net
USwitch.com

News Posted: 04/08/2014      [Back to the Top]

Telegraph

Europe's 'sick man' France dealt another blow as manufacturing contracts

Earlier this year, Nobel laureate Sir Christopher Pissarides told the Telegraph that France could destroy the euro if the government's gamble on supply side reforms failed to pull the economy out of stagnation.

This article appeared in the Telegraph on 1 August 2014 link to article

Related Links
Christopher Pissarides webpage
Macro Programme webpage

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

New Statesman

Does the NHS treat mental health as a ''second-class service''?

As well as the ethical concerns of these cases, such neglect of the mentally ill also has practical implications; a report by the London School of Economics found that the NHS could save over £50m a year by reversing budget cuts to preventative and early intervention therapies.

This article appeared in the New Statesman on 1 August 2014 link to article

Related Publications
Investing in recovery: making the business case for effective interventions for people with schizophrenia and psychosis Knapp, Martin, Andrew, Alison, McDaid, David, Iemmi, Valentina, McCrone, Paul, Park, A-La, Parsonage, Michael, Boardman, Jed and Shepherd, Geoff (2014)

Related Links
Martin Knapp webpage
Wellbeing webpage

News Posted: 01/08/2014      [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]

New Scientist

Know this: the latest psychotherapy transforms lives

How big a problem is the undertreatment of mental illness?
RL: In rich countries one in five people suffer a mental illness, mostly depression or anxiety disorders. Mental illness accounts for 38 per cent of all illness and even more for people of working age. Yet in most rich countries it gets under 10 per cent of healthcare expenditure.

This article appeared in the New Scientist on 15 July 2014 link to article
PDF copy to download

Related Publications
Thrive: the Power of Evidence Based Psychological Therapies Richard Layard, 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]

Conservative Home

It's not a case of whether we develop the green belt, but how we do it

It’s a question we’ve asked before on the Deep End, but let’s ask it again: if we plan on building a million new homes every five years or so, where do we stick ’em? Paul Cheshire of the Spatial Economics Research Centre, has a pretty clear idea: “Almost every reasonable person must now accept the case that we need to build on some parts of currently designated Greenbelt land.”

This article was posted online by Conservative Home on July 14, 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 LSE British Politics and Policy blog, posted May 7, 2014.

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

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]

Rochdale Online

Report challenges economic benefit argument for major sporting and cultural events

The impact evaluation and evidence review – Sports and Culture: The Impact of Major Events and Facilities –considered 36 post-event evaluations from across the UK and other OECD nations, and assessed the local economic impacts of staging major events on employment, wages and property prices. While acknowledging the many other intrinsic benefits and motivations behind hosting such events – including health, wellbeing, prestige and cultural enrichment – the review found very limited evidence to justify claims of stimulating local economic growth. “Longer-term economic benefits are an increasingly cited reason for hosting major sporting and cultural events and facilities. And yet, it appears that in many instances, there is no empirical basis for these particular claims,” said Professor Henry Overman, Director of the What Works Centre for Local Economic Growth

This article appeared in Rochdale Online on 7 July 2014 link to article

Related Links
Henry Overman webpage
Max Nathan webpage
What Works Centre for Local Economic Growth webpage

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

The Irish Examiner

The Great British/EU break-up

The London-based Centre for Economic Performance recently warned that withdrawal from the EU would be a “dangerous move for the UK”. It has predicted losses to national output, ranging from 2.2% under an optimistic scenario to between 6.3% and a staggering 9.5% under a worst-case scenario, involving the withdrawal of foreign direct investment.

This article appeared in the The Irish Examiner on 7 July 2014 link to article

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: 07/07/2014      [Back to the Top]

FT.com

Sports events no big score for local economies, study finds

London’s new Wembley Stadium lifted house prices in the area by 15 per cent, while the announcement of the Olympics coming to London pushed up values within three miles of the stadium by 5 per cent. But there is little evidence of job creation from sports events and facilities, while evidence of an uplift in wages is mixed, says the study by the What Works Centre for Local Economic Growth, a collaboration of the London School of Economics, the Centre for Cities and Arup. Any tourism or trade import benefit is likely to be short-lived, say researchers. They reviewed 36 big sports and culture events and facilities, including two Fifa World Cup tournaments, four Olympic Games, the Super Bowl, the rugby and cricket world cups and regular season basketball and American football games.

This article appeared in the FT.com on 7 July 2014 link to article

Related Links
Henry Overman webpage
Max Nathan webpage
What Works Centre for Local Economic Growth 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]

Huffington Post

Why Do Fewer Than One in Three People With Mental Illness Receive Treatment? By David Clark and Richard Layard

It is not surprising that most mental illness goes untreated. While most people with physical illness are in treatment, this is true for fewer than one in three people with mental illness. This figure applies throughout the advanced world, and even for major depressions the figure is under a half in Britain, the USA, and continental Europe. If your pancreas is not working you automatically get treatment, but if your mind has been disordered for decades you do not.

This article appeared in the Huffington Post on 4 July 2014 link to article

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

Related Links
Richard Layard webpage
David Clark webpage
Wellbeing Programme webpage

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

BBC London 94.9

News

Mention of LSE research which found that cycling contributes £3billion to the UK economy.

The research was mentioned on BBC London 94.9 News programme on July 4, 2014

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

Related links
Productivity and Innovation Programme webpage


News Posted: 04/07/2014      [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]

Daily Express

Why Prince Charles has got it right on grammar schools

“Comprehensive schools are a social experiment which went so horribly wrong that no party is quite brave enough to confess to its error. An LSE study revealed that people born in 1958, most of whom went to secondary school when grammar schools were still around, were more likely to move up the earnings ladder relative to their parents than were people born in 1970, most of whom went to comprehensives.

This article appeared in the Daily Express on 1 July 2014 link to article

Related publications
Big ideas: intergenerational mobility Jo Blanden, in CentrePiece 13 (3) Winter 2009
Social Mobility in Britain: Low and Falling Jo Blanden, Paul Gregg and Stephen Machin, Full paper here from CentrePiece 10 (1) Spring 2005
More details on the research discussed here are in Intergenerational Mobility in Europe and North America by Jo Blanden, Paul Gregg and Stephen Machin - a report supported by the Sutton Trust


Related links
Jo Blanden webpage
Stephen Machin webpage
Education and Skills Programme webpage

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

The Guardian

The scandal of common mental illnesses left untreated

The crisis in question is one of mental health, yet what our politicians propose to do about it remains unclear. If they’re in need of help, they could always start with a careful reading of a new book by the economist Richard Layard and clinical psychologist David Clark. At the heart of Thrive: The Power of Evidence-Based Psychological Therapies is a bewildering conundrum. Mental illness is extremely common: one in three people will experience a problem at some point during their lifetime; in any one year, 19% of us will suffer from an anxiety disorder, 13% from a substance problem, and 7% from depression. If personal misery on this scale isn’t sufficient to move politicians to action, an annual cost to the exchequer of approximately £28bn (not counting NHS costs) might be expected to do the trick. Yet most people receive no medical help for their conditions, and of the minority that do get treatment, very few receive the most effective form.

This article appeared in the Guardian on 1 July 2014 link to article

Related Publications
Thrive: the Power of Evidence Based Psychological Therapies Richard Layard, 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]

BBC Bristol

News

Mention of LSE study on cycling.

Mentioned on BBC Bristol on June 27, 2014
No link available.

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

Related links
Productivity and Innovation 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]

The Economist (web)

Don't hold your breath

A new paper by Joao Paulo Pessoa and John Van Reenen of the London School of Economics shows how flexible wages have made labour a cheaper input, allowing firms to substitute bargain-basement workers for costlier machines.

This article was published by The Economist online on June 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 Report No.31, June 2013
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.

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

Investicni Web

(Ne)konecná krize: 4 expertní názory na soucasné i budoucí turbulence

Albrecht Ritschl profesor ekonomie na London School of Economics Pristi velka krize muze byt o cenach nerostnych surovin, o spekulacich s nimi...
(Not) the final crisis: 4 expert views on the present and future of turbulence
Albrecht Ritschl, Professor of Economics at the London School of Economics the next big crisis may be on prices of raw materials...

This article was published by Investicni Web (Czech Republic) on June 11, 2014
Link to article here

Related Links
Albrecht Ritschl webpage
Macro Programme webpage

News Posted: 11/06/2014      [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]

Grupo Aseguranza

Los expertos ven en el copago una oportunidad para desarrollar el seguro de Salud (Experts see an opportunity to develop health insurance)

Joan Costa Font, del London School of Economics, ha asegurado en el I Congreso de Seguros Personales para el Ahorro y la Salud organizado por ICEA, que “en Espana, donde haya copago habra posibilidad de ofrecer un seguro sanitario que lo cubra”.

This article was published by Grupo Aseguranza on June 11, 2014
Link to article here

Related Links
Joan Costa Font 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]

El Pais

Ignoran los mercados el riesgo político?

Article by Luis Garicano
Asombra la extremadamente tranquila reacción de los mercados de deuda a lo que parece un fuerte incremento del riesgo político en España. En este momento, España se enfrenta a la emergencia de un partido bolivariano con un líder carismático; a un fuerte incremento de la tensión nacional con una región clave para España exigiendo un referéndum de escisión en seis meses; a una perspectiva clara de que, dentro de un año, no habrá mayoría estable para gobernar. Mientras tanto, España se financia a tipos de interés que alcanzan mínimos históricos?

This article was published by El Pais on June 8, 2014
Link to article webpage

Related links
Luis Garicano webpage
Productivity and Innovation Programme webpage

News Posted: 08/06/2014      [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]

BBC (Web)

Most teachers 'back pay by results'

However Richard Murphy, a researcher at the LSE's Centre for the Economics of Education, said evidence suggested "a teacher who is consistently raising the test scores of pupils is much more likely to be a highly effective teacher".

This article appeared in the Guardian on 6 June 2014 link to article

Related Links
Richard Murphy webpage
Education and Skills webpage

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

The Economist (Web)

Spain's monarchy: Winds of change

Luis Garicano, of the London School of Economics, says a recent surge in imports risks tipping Spain back into the sort of current-account deficit that left it so exposed before. Among the political risks facing the future king are the rise of an anti-capitalist, anti-monarchist left and of Catalan separatism. Those could hurt the economy too. The winds of change could yet blow in a less happy direction.

This article appeared in the Economist on 5 June 2014 link to article

Related links
Luis Garicano webpage
Productivity and Innovation Programme webpage

News Posted: 05/06/2014      [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]

City AM

Britain's housing crisis will morph into catastrophe if politicians don't change, by Paul Cheshire

THE HOUSING crisis – worst in London, but bad across Britain – is fundamentally driven by lack of supply. For the past five years, we have been building fewer houses than in any peacetime period since before World War One. But house building has been on a downwards trend since the 1960s. Reasonable estimates suggest the shortfall in England has been 1.6m to 2.3m houses between 1994 and 2012. Moreover, too many of those we have built have not been in locations where demand is highest. We persistently build houses where they are relatively most affordable and job prospects are relatively worst.

This article appeared in City AM on 4 June 2014 link to article

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: 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]

The Independent

The waning power of the trade unions has been an important driver behind rising wealth inequality

A new paper by Gregg, Machin and Fernández-Salgado suggests increased sensitivity of real wages to unemployment, in part driven by the sustained decline of trade union bargaining power, which has also been an important driver behind rising income (and wealth) inequality.

This article appeared in the Independent on 2 June 2014 link to article

Related Links
Stephen Machin’s CEP Publications webpage
Stephen Machin webpage
Labour Markets webpage

News Posted: 02/06/2014      [Back to the Top]

LSE Connect Magazine

Savings on sanity

It is increasingly recognised across the world that intervening early in mental illness not only spares millions from untold misery but can save millions in finances. Martin Knapp provides an overview of a field of study that could transform this century and in which LSE leads the way.

This article was published in LSE Connect Magazine Volume 26, Number 1, Summer 2014 on June 1, 2014
Link to article here

Related links
Martin Knapp webpage
Wellbeing Programme webpage
Martin Knapp CEP publications webpage

News Posted: 01/06/2014      [Back to the Top]

Santa Clarita Valley Signal

4 ways people are finding happiness

The Telegraph reported on Wednesday that days flooded with wet weather were just as rewarding as days with the sun shining. In fact, Paul Dolan, a professor at the London School of Economics, told The Telegraph that people who live in sunnier climates get too familiar with their surroundings and don’t get any happier than someone in a wetter climate. “They expected that people in California would be happier because it is more sunny, but they found that levels of happiness were exactly the same,” Dolan told The Telegraph. “If it is sunny every day, you get used to it and the sunshine doesn’t make you any happier. Most of the time the weather doesn’t affect out well-being at all. But when we think about it, and think that it does, that’s when we get miserable.”

This article appeared on Santa Clarita Valley Signal on 1 June 2014 link to article

Related Links
Paul Dolan webpage
Wellbeing webpage
Paul Dolan’s CEP publications webpage

News Posted: 01/06/2014      [Back to the Top]

Finance and Development (IMF)

Labor Rewarded

For Pissarides, a Cypriot of Greek descent, understanding unemployment has been his life’s work since the 1970s. It took 20 years of academic toil before the impact of his research started to transform the way economists think about unemployment—and then for its influence to seep through to policy. IMF chief economist Olivier Blanchard, a noted scholar of unemployment himself, says: “Chris persevered. And history has proven him right. There is an important lesson to researchers here. When you think you are right, don’t listen too much to others.”

This article appeared in Finance and Development on 1 June 2014 link to article

Related links
Christopher Pissarides webpage
Macro Programme webpage


News Posted: 01/06/2014      [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]

Gulf News

Let's not lie — racism is still alive

For women, those who work part time are more ready to admit their prejudice. Why? Dr Grace Lordan from the London School of Economics suggests it is related to the poor working conditions such women are forced to endure.

This article appeared on Gulf News on 30 May 2014 link to article

Related links
Grace Lordan webpage
Wellbeing Programme webpage
Grace Lordan’s CEP publications webpage

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]

The Guardian

Racism isn't extinct in Britain - it's alive and well

NatCen's research makes for especially interesting reading on racism and class. Old assumptions are seemingly affirmed. It is older men in manual work who are most likely to admit to being racially prejudiced. For women, those who work part time are more ready to admit their prejudice. Why? Dr Grace Lordan from the London School of Economics suggests it is related to the poor working conditions such women are forced to endure. Again, this is a formula for racial discrimination that we are happy to accept – it is primarily the problem of the poor, too unenlightened to understand that the nonexistent R-word is passé, to say the least.

This article appeared in the Guardian on 29 May 2014 link to article

Also in
ACQ Magazine (online) Racism is still with us let’s stop lying to ourselves link to article

Related links
Grace Lordan webpage
Wellbeing Programme webpage
Grace Lordan CEP publications webpage

News Posted: 29/05/2014      [Back to the Top]

Forbes.com

7 Things To Do If You're Feeling Overwhelmed

A recent study from the London School of Economics and Harvard Business School shows that most CEOs spend about a third of their time in meetings. That’s a lot of time – about 18 hours a week. It can be wasted time, or extremely valuable time.

This article appeared on Forbes.com on 29 May 2014 link to article

Related Publications
What Do CEOs Do? Oriana Bandiera, Luigi Guiso, Andrea Prat, Raffaella Sadun, May 2012 Paper No' CEPDP1145

Related Links
Raffaella Sadun webpage
Productivity and Innovation webpage

News Posted: 29/05/2014      [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]

Local Government Chronicle

Commission on country growth calls for evidence

LGA names members of panel that will assess role of non-metropolitan areas. The independent commission will be chaired by Sir John Peace, chair of Nottinghamshire's local growth board and of Standard Chartered PLC and Burberry. Other commissioners will include Lady Cobham, chair of VisitEngland, Sir Tony Hawkhead, chief executive of Action for Children and Professor Henry Overman, professor of economic geography at the London School of Economics. The commission has launched a public call for evidence and wants to hear from business leaders, voluntary and faith groups and public service leaders.

This article was published by the Local Government Chronicle on May 28, 2014
A pdf copy of the article can be downloaded from here

Related links
Henry Overman webpage
Spatial Economics Research Centre (SERC) website

News Posted: 28/05/2014      [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]

Capital Bay

Flash flood warnings across UK after non-stop torrential rain

The average rainfall for May is around 50mm (2in) but the North was told it can expect up to 40mm (1.6in) of rainfall yesterday and today alone. Meanwhile, a behaviour expert has claimed people only feel sad in bad weather because they think about it too much, reported the Daily Telegraph. Paul Dolan said that because people in Britain talk about the weather so much, it may be making us more depressed than the conditions outside. The London School of Economics professor claimed studies had shown people who live in warmer climates are not happier than those in wetter areas.

This article appeared in Capital Bay on 28 May 2014 link to article

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

News Posted: 28/05/2014      [Back to the Top]

The Daily Telegraph

Every cloud has a silver lining: why bad weather doesn't have to make you sad

RAINY days do not have to get you down, an expert in happiness has claimed. Paul Dolan, professor of behavioural science at the London School of Economics, said that people only feel miserable in bad weather because they dwell on it too much. Studies have shown that people who live in warm, sunny climates are no happier than those in chilly, wet climes, he told the Hay Festival.

This article appeared in the Daily Telegraph on 28 May 2014 link to article

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

News Posted: 28/05/2014      [Back to the Top]

The Independent (online)

Rainy weather does not make you sad, claims behavioural expert Professor Paul Dolan

As difficult as it is to believe on a particularly drizzly day, people living in sunny climates are no happier than those often exposed to cold, rainy weather, a happiness expert has claimed. During a talk at the Hay Festival, Paul Dolan Professor of Behavioural Science at the London School of Economics, said studies show the climate itself does not affect a person’s happiness.

This article appeared on the Daily Telegraph (Online) on 28 May 2014 link to article

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

News Posted: 28/05/2014      [Back to the Top]

The Guardian

Before 2001 you might have thought xenophobia was dying out. Not now

The NatCen data reveals differences stemming from age, class and gender, with older men in manual jobs most ready to admit to racial prejudice. Dr Grace Lordan, from the London School of Economics, has written a paper based on the BSA data going back to 1983 and says the figures also show a clear correlation between recession and the numbers who self-described as prejudiced.

This article appeared in the Guardian on 28 May 2014 link to article

Related links
Grace Lordan webpage
Wellbeing Programme webpage
Grace Lordan CEP publications webpage

News Posted: 28/05/2014      [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. National Institute for Health and Care Excellence (Nice) guidelines already stated that talking therapies should be offered before drugs; the problem was that there weren't enough qualified therapists. The Depression Report showed clearly that investment in making CBT and similar therapies more widely available would be better for the economy in the long run than handing out pills.

This article appeared in the Guardian on 28 May 2014 link to article

Related Publications
The Depression Report: A New Deal for Depression and Anxiety Disorders The Centre for Economic Performance's Mental Health Policy group, June 2006
Mental Illness and Unhappiness Dan Chisholm, Richard Layard, Vikram Patel, Shekhar Saxena, September 2013 Paper No' CEPDP1239

Related Links
Richard Layard webpage
Wellbeing webpage

News Posted: 28/05/2014      [Back to the Top]

The Astana Times (Kazakhstan)

Nazarbayev Calls on Countries to Follow G-Global Principles, Maximise Economic Development

ASTANA – President Nursultan Nazarbayev of Kazakhstan delivered the keynote address to the international seventh Astana Economic Forum on May 23.
On the sidelines of the forum and the second World Anti-Crisis Conference, which was an important part of the event, President Nazarbayev met with Nobel prize laureates, including Kurt Wüthrich, Finn Kydland, George Fitzgerald Smoot III, Muhammad Yunus, Svyatoslav Timashev, Christopher Pissarides and Arie Varšel.

This article was published in The Astana Times (Kazakhstan) on May 27, 2014
Link to article here

Related links
Christopher Pissarides webpage
Macro Programme webpage

News Posted: 27/05/2014      [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 würde 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]

VOX

DynEmp: New cross-country evidence on the role of young firms in job creation, growth, and innovation

New OECD work (Chiara Criscuolo et al. 2014) builds and analyses a novel database from harmonised micro-aggregated firm-level information from national business registers to provide new cross-country evidence on the contribution of firms at different ages and sizes to job creation.

The article was published online by VOX on May 26, 2014
Link to article here

Related links
Chiara Criscuolo webpage
Productivity and Innovation Programme webpage
Chiara Criscuolo CEP Publications webpage

News Posted: 26/05/2014      [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]

Huffington Post

Weekend Roundup: The World Pivots to Asia

Keyu Jin of the London School of Economics examines the Chinese economic model and argues that more income must be shifted to the household if China's growth is going to be fairly shared.

This article appeared in the Huffington Post on 23 May 2014 link to article

Related Links
Keyu Jin webpage
Macro Programme webpage

News Posted: 23/05/2014      [Back to the Top]

InToday

Finding happiness in weird things

The fourth day of the workweek delivers a little happiness bounce. So say London School of Economics researchers who tracked the moods of 45,000 people via a smartphone app called Mappiness.

This article appeared in InToday.com on 23 May 2014 link to article

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

Related links
Alex Bryson webpage
Labour Markets Programme webpage

News Posted: 23/05/2014      [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]

Forbes

It's not teacher quality or class size, it's leadership that makes schools successful

Unlocking the secrets of high-performing schools is understandably the focus of much education-oriented research, and now academics think they have found the key. Their findings conclude that it is not teacher quality or class size, it is leadership that makes schools successful. Researchers at the Centre for Economic Performance at the London School of Economics used techniques developed over the last decade to analyze management practices in schools in the U.S., Canada, the U.K., Germany, Sweden, Italy, Brazil and India.

This article was published online by Forbes on May 22, 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: 22/05/2014      [Back to the Top]

Azer News

INCU Global Conference underway in Baku

Afterwards, presentations were made by Christopher A. Pissarides and Thomas J. Sargent the laureates of the Nobel Prize in Economics.

This article appeared in Azer News link to article

Related links
Christopher Pissarides webpage
Macro 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]

Times Higher Education

UK University funding: don't copy the Australians

Doubling the monthly repayment for those likely to be struggling to save for a deposit on a home or to pay for the rise in their rail season ticket is hardly likely to be a popular policy. And creating such a ''cliff edge'' in repayments is likely to create a range of perverse incentives and distortionary effects in the labour market, suppressing wages. These seem pretty desperate measures to adopt. As London School of Economics researchers Gill Wyness and Richard Murphy stated in The Guardian last month in response to Hepi's report, if the UK government really wants to lower the RAB charge, it could do so by lowering fees, or it could reduce it to zero by abolishing fees altogether. As the Hepi report points out, a significant factor in Australia's lower RAB charge (around 25 per cent) is its lower tuition fees, which result in lower student debt.

This article was published in The Times Higher on May 22, 2014
Link to article here

Related links
Richard Murphy webpage
Gill Wyness webpage
Education and Skills Programme webpage
The Economics of Higher Education research network 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]

LSE British Politics and Policy Blog

Minimum wages: the economics and the politics, by Alan Manning

The other strand of research that has been very influential examined the UK experience, with CEP researchers playing a sizeable role, though not the only one. Some people predicted that the introduction of the National Minimum Wage in 1999 would cause hundreds of thousands of job losses, but this simply did not materialise. Any impact on employment seemed to be tiny and LPC research has reached similar conclusions for subsequent years when the minimum wage rose faster than average earnings.

This article appeared on the LSE British Politics and Policy Blog link to article

Related Publications
Big ideas: The UK's National Minimum Wage Alan Manning, October 2009 Paper No' CEPCP290 CentrePiece 14 (2) Autumn More than a Minimum: The Resolution Foundation Review of the Future of the National Minimum Wage


Related Links
Alan Manning Webpage
Labour Market Webpage
Communities Webpage

News Posted: 19/05/2014      [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]

Centre for Economic Performance Press Release

Brexit or fixit? The trade and welfare effects of leaving the European Union

The Centre for Economic Performance (CEP) today launches a new report in its series of CEP Policy Analyses: 'Brexit or Fixit? The Trade and Welfare Effects of Leaving the European Union' by Professor Gianmarco Ottaviano, Joao Paulo Pessoa, Thomas Sampson and John Van Reenen. With the promise of a 2017 referendum on the UK's membership of the European Union (EU), the authors consider what would be the likely economic effects on the UK from such a move (commonly called 'Brexit'). Their analysis focuses on the more mundane (but quantifiable) economic issues, especially trade.

The CEP press release was published online on May 16, 2014
Link to the release 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
Available to download

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]

SERC Blog

Building Reliant Robin Houses adds to our Housing Crisis, by Paul Cheshire

We all know there is a housing crisis. The latest data show that on the best measure of affordability (the price of a house mid-way in the price range relative to earnings mid-way in the range), the national position is half 1997 levels and not a lot better than at the worst point in 2007. The debate about causes is full of myths, many self-serving - such as the claim that we are in danger of concreting over England. As I showed in a recent article, the reality is that Greenbelts cover more than 1.5 times all our built- up areas put together. Surrey has more land for golf courses (2.65%) than for actual houses (2.06%).

This article appeared on the SERC Blog on 15 May 2014 link to article

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: 15/05/2014      [Back to the Top]

Centre for Economic Performance Press Release

Immigration, the European Union and the UK Labour Market

The Centre for Economic Performance (CEP) today launches a new report in its series of CEP Policy Analyses: 'Immigration, the European Union and the UK Labour Market' by Professor Jonathan Wadsworth.

Published on May 15, 2014
The press release is available to download from here.

Related publications
'Immigration, the European Union and the UK Labour Market', Jonathan Wadsworth, Centre for Economic Performance Policy Analysis No.15, May 2014
Available to download

Related links
Jonathan Wadsworth webpage
Labour Markets Programme webpage
Jonathan Wadsworth CEP Publications 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]

The Economist

Why London's house prices are soaring

As professor Paul Cheshire of the London School of Economics points out, in the five years to 2013 twice as many houses were built in Doncaster and Barnsley - two struggling northern towns - than in Oxford and Cambridge, which are thriving.

This article was published by The Economist on May 14, 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 website

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]

Fast Company

How Facebook is making us miserable

In his book, Happiness, Richard Layard shows how, paradoxically, we're less content today than we were just a few decades ago. Are today's seemingly unlimited opportunities a ticket to unhappiness?

This article appeared in Fast Company.com link to article

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

Related Links
Richard Layard webpage
Wellbeing webpage

News Posted: 13/05/2014      [Back to the Top]

Tajikistan News.net

Cost of living highest in Australia in G20

John Van Reenen director of the centre for economic performance at the London School of Economics, states that the high prices partly reflected that people want to live in economically successful Australia. "However, as the commodity boom and China's growth slows, Australia will face a more challenging time ahead,"

This article appeared in Tajikistan News on 13 May 2014 link to article

Related Links
John Van Reenen webpage
Productivity and Innovation webpage

News Posted: 13/05/2014      [Back to the Top]

Guardian.co.uk

London housing crisis: who dares to brown the greenbelt?

I liked Paul Cheshire's diagnosis of Britain's housing affordability crisis from the off: When things go wrong it is always handy to blame foreigners and currently even the liberal press are blaming them for our crisis of housing affordability. Aren't we just, especially where London is concerned? That, and complaining about the skyline while all over the city kids are sleeping on sofas because there aren't enough bedrooms in their homes.

This article appeared in The Guardian on 13 May 2014 link to article

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: 13/05/2014      [Back to the Top]

The Daily Telegraph

Enough is enough, we need higher interest rates now

In the 1970s and 80s, some 4.3m new homes were built in Britain. In the subsequent two decades, the numbers plummeted to 2.7m. To stabilise affordability in the areas of the country people have to live and work — twice as many houses were built in Doncaster and Barnsley, where prices have been falling steeply, in the five years to 2013 than in Oxford and Cambridge, where prices are rising strongly — requires return to previous levels of house building. As an economy, we’ve not been building enough housing for 30 years or more. I take these statistics from an article by Paul Cheshire, a professor of economic geography at the London School of Economics, in the LSE’s CentrePiece magazine.

This article appeared in the Daily Telegraph on 13 May 2014 link to article

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: 13/05/2014      [Back to the Top]

ONB - Osterreichische NationalBank Eurosystem Press Release

Tenth presentation of Klaus Liebscher Award

Young Economists Receive Highest OeNB Award for Outstanding Research on European Integration

At the 42nd Economics Conference of the Oesterreichische Nationalbank (OeNB), OeNB President Claus J. Raidl announced the winners of the Klaus Liebscher Award, which was conferred for the tenth time. This year's two prize-winning papers, which were selected from numerous excellent submissions, address particularly topical economic policy issues and display outstanding academic quality: ''Systemic Sovereign Risk: Macroeconomic Implications in the Euro Area'' by Saleem Abubakr Bahaj, University of Cambridge, and "Information Frictions and the Law of One Price: 'When the States and the Kingdom became United'" by Claudia Steinwender, an Austrian economist currently at the London School of Economics.

The press release from the Oesterreichische Nationalbank (OeNB) was published on May 12, 2014
Link to the release here

Related links
Claudia Steinwender webpage
Labour Markets Programme webpage
Claudia Steinwender CEP publications webpage

News Posted: 12/05/2014      [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]

WA Today

Australia the most expensive country in the G20

The director of the centre for economic performance at the London School of Economics, John Van Reenen, said high prices partly reflected that people want to live in economically successful Australia. “However, as the commodity boom and China’s growth slows, Australia will face a more challenging time ahead,” Professor Van Reenen said.

This article appeared in WA Today on 12 May 2014 link to article

Also in:
Sydney Morning Herald
Australian Financial Review

Related Links
John Van Reenen webpage
Productivity and Innovation webpage

News Posted: 12/05/2014      [Back to the Top]

The Daily Telegraph

EU elections 2014: Is immigration good for Britain?

Last year, the Centre for Economic Performance, a think-tank, found that the arrival of Polish children in British schools had helped lift their native classmates’ results. The researchers said one explanation is that Polish children’s stronger work ethic encourages their British peers.

This article appeared in the Daily Telegraph on 12 May 2014 link to article

Related Publication
'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


Related Links
Sandra McNally webpage
Shqiponja Telhaj webpage
Education and Skills webpage

News Posted: 12/05/2014      [Back to the Top]

The Guardian

Why house prices are so expensive in the UK, article by Paul Cheshire

We all know there is a housing crisis. The latest data shows that, on the best measure of affordability, a typical house is half as affordable as it was in 1997 and not a lot more affordable than at the worst point in 2007. The debate about causes is full of myths, some of them extremely self-serving, such as the claim that we are in danger of concreting over England. As I showed in a recent article, the reality is that the green belt covers more land than all our built-up areas put together, and golf courses take up more land in Surrey (2.65%) than houses do (2.06%).

This article appeared in the Guardian on 12 May 2014 link to article

Related publications
"Turning Houses into Gold: the Failure of British Planning" Paul Cheshire. Article from forthcoming CentrePiece - Volume 19, Issue 1, Spring 2014.

Related links
Paul Cheshire webpage
SERC website

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]

Yahoo! Notizie (Italy)

Romania, mobilità e capitali in Europa

La mobilita dei lavoratori in Europa e notevolmente aumentata dal 2010, dopo un brusco calo dovuto alla crisi. Sono i Paesi del sud Europa che stanno facendo registrare un vero e proprio esodo. Gran parte dei migranti in cerca di lavoro sono giovani con alti livelli d'istruzione. Un fenomeno che crea problemi nei rispettivi Paesi di provenienza. Cosi, esaminate le recenti ricerche sulla migrazione qualificata e l'impatto sui paesi di origine e di destinazione, ecco cosa ci racconta Marco Manacorda, professore di Economia alla Queen Mary Univeristy. ''Quando guardiamo gli effetti della mobilita qualificata rispetto al mercato del lavoro locale, contrariamente alle teorie economiche standard, che prevedono un danno per i nativi, cio non accade. Viene registrato invece un costo per i paesi di origine, soprattutto se questi hanno investito nell'educazione''.
Romania and Capital Mobility in Europe
The mobility of workers in Europe has significantly increased from 2010, after a sharp drop due to the crisis. Are the southern European Countries that are making a real exodus. Most of the migrants in search of work are young people with high levels of education. A phenomenon that creates problems in their countries of origin. So, you look at recent research on migration and the impact on countries of origin and destination, here's what Marco Manacorda, Professor of Economics at Queen Mary University says: "When we look at the effects of the qualified mobility compared to the local labour market, contrary to standard economic theory, involving damage to the natives, this doesn't happen. A cost is recorded for the countries of origin, especially if they have invested in education ". This article was published online on Yahoo!Notizie (Italy) on May 10, 2014
Link to article here

Related links
Marco Manacorda webpage
Labour Markets Programme webpage
Marco Manacorda CEP Publications webpage

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

VOX

Determinants of generic medicine adoption

Article by Joan Costa-i-Font, Alistair McGuire and Nebibe Varol
Generic medicines are cheaper than their branded counterparts, offering potential savings in healthcare budgets. Medicine-price regulation plays an important role in the expansion of the market for generic medicines. This column presents new evidence that higher levels of price regulation, by lowering the expected price to generic manufacturers, lead (ceteris paribus) to greater delays in generic entry.

This article was published online by VOX on May 10, 2014
Link to article here

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

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

Inquirer.net

To professionalize or not?

'Want more clients?' That is the question that Stanford University economist Nicholas Bloom, Harvard Business School professor Raffaella Sadun and London School of Economics professor John van Reenen seek to answer. In the World Management Survey in 2011, they studied thousands of medium-sized firms in 20 countries, from management practices in operations to monitoring and incentives. Scores ranged from 1 (poor) to 5 (outstanding), which were found to correlate to productivity, profitability, growth and survival of the family business.

This article was published online by Business Inquirer on May 9, 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

Related links
Nicholas Bloom webpage
Christos Genakos webpage
Raffaella Sadun webpage
John Van Reenen webpage
Productivity and Innovation Programme webpage
Management Practices and Organisational Structure webpage

News Posted: 09/05/2014      [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]

Chicago Tribune

Nobel economists, others urge end to 'war on drugs'

Signatories of the text included five Nobel-prize winning economists - among them Kenneth Arrow, Christopher Pissarides and Thomas Schelling - as well as former U.S secretary of state George Schultz, British deputy prime minister Nick Clegg and Javier Solana, a former European Union foreign policy chief.

This article appeared in the Chicago Tribune on 7 May 2014 link to article

Related links
Christopher Pissarides webpage
Macro Programme webpage

News Posted: 07/05/2014      [Back to the Top]

Yahoo News

'War on drugs' a failure, Nobel winners warn

The report was signed by George Shultz, the US secretary of state under Ronald Reagan, British Deputy Prime Minister Nick Clegg, and former NATO and EU foreign policy chief Javier Solana. It was also signed by Nobel economics prize winners Kenneth Arrow (1972), Christopher Pissarides (2010), Thomas Schelling (2005) Vernon Smith (2002) and Oliver Williamson (2009).

This article appeared on Yahoo News on 7 May 2014 link to article

Related links
Christopher Pissarides webpage
Macro Programme webpage

News Posted: 07/05/2014      [Back to the Top]

Aljazeera

Global drugs war a 'billion-dollar failure'

The report said "rigorously monitored" experiments with legalisation and a focus on public health, minimising the impact of the illegal drug trade, were key ways of tackling the problem instead. It was signed by George Shultz, the US secretary of state under Ronald Reagan, British Deputy Prime Minister Nick Clegg, and former NATO and EU foreign policy chief Javier Solana. Nobel Economics prize winners Kenneth Arrow (1972), Christopher Pissarides (2010), Thomas Schelling (2005) Vernon Smith (2002) and Oliver Williamson (2009) also signed the reports.

This article appeared on Aljazeera.com on 7 May 2014 link to article

Related links
Christopher Pissarides webpage
Macro Programme webpage


News Posted: 07/05/2014      [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]

Huffington Post

End The War On Drugs, Say Nobel Prize-Winning Economists

…….the report has been endorsed by five past winners of the Nobel Prize in Economics: Kenneth Arrow (1972), Sir Christopher Pissarides (2010), Thomas Schelling (2005), Vernon Smith (2002) and Oliver Williamson (2009).

This article appeared in the Huffington Post on 6 May 2014 link to article

Related links
Christopher Pissarides webpage
Macro Programme webpage

News Posted: 06/05/2014      [Back to the Top]

New Statesman

Why the costly, pointless war on drugs must come to an end

The London School of Economics has attempted to begin counting the costs of the war on drugs in a new report, Ending the Drug Wars: Report of the LSE Expert Group on the Economics of Drug Policy…….Signatories also include the LSE’s most recent Nobel Laureate Professor Sir Christopher Pissarides.

This articles appeared in the New Statesmen on 6 May 2014 link to article

Related links
Christopher Pissarides webpage
Macro Programme webpage

News Posted: 06/05/2014      [Back to the Top]

The Guardian

Self-employment surge across UK hides real story behind upbeat job figures

The UK now has roughly twice as much self-employment as the US. Professor Stephen Machin of University College London – a leading expert on labour markets – said: "The changing composition of jobs, and in particular the rise in low-wage self-employment, is an important and worrying recent development that underpins some of the discussions about the number of jobs hitting record levels. This is especially true in some parts of the country where this compositional change is masking what is happening in terms of jobs growth."

This article appeared in the Guardian on 5 May 2014 link to article

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: 05/05/2014      [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]

Conservativehome

Heresy of the week: Sorry George, but wages really have decoupled from growth

Once again, Ed Miliband has focused the political debate on the cost of living crisis. By promising to control rents and freeze energy prices, he hopes to persuade ordinary working people that Labour is on their side. Curiously, he has rather less to say about the other half of prices and incomes equation. Price rises hurt so much right now because wages are flat - indeed, according to the latest research, the average British worker suffered an 8 per cent decline in their wages between 2008 and 2013.

Last month, George Osborne addressed this issue - and dismissed it - in a speech to the American Enterprise Institute: Osborne believes that decoupling isn't really happening:

''Recent work by academics at the London School of Economics and our own analysis at the Treasury has found no evidence that employee compensation has become detached from GDP growth in recent decades.
''Previous results that appear to show a break disappear once you take account of rising pension contributions and payroll taxes.''
It isn't clear if this is what the speech specifically refers to, but a frequently cited source of evidence for the argument that decoupling isn't real is a paper by two LSE academics Joao Paulo Pessoa and John Van Reenen.

This article was published online by Conservativehome on May 2, 2014
Link to article here

Related publications
The Squeeze on Real Wages - And What it Might take to End it, Paul Gregg, Stephen Machin and Marina Fernandez-Salgado. Article in the National Institute Economic Review, Volume 228, No.1, May 2014.
Wage growth and productivity growth: the myth and reality of 'decoupling', Joao Paulo Pessoa and John Van Reenen. Article in CentrePiece Volume 18, Issue 2, Autumn 2013
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

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

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]

Nasdaq

British Household Lending Highest Since 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 appeared on Nasdaq.com on 1 May 2014 link to article

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: 01/05/2014      [Back to the Top]

tutor2u.net

UK Income and Wealth Inequality - a New Film

Income and wealth inequality in the UK are higher than most people think they are and higher than they think they should be. These are among the messages of a new online infographics film.

The film is produced for the Centre for Economic Performance (CEP) by Econ Films. It draws on primary CEP research, as well as data from the Office for National Statistics, British Household Survey and research from the Institute for Fiscal Studies.

This article was posted online by tutor2u.net on May 1, 2014
Link to article here.

'Inequality in the UK' infographics film can be viewed here

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

News Posted: 01/05/2014      [Back to the Top]

tutor2u.net

UK Economy: the Economics of Falling Real Wages

The prospects of significant wage increases for typical UK workers are bleak, according to Professors David Blanchflower and Stephen Machin writing in the Spring 2014 issue of CentrePiece magazine. It is quite clear that the economy is still well below full employment and there is a large amount of slack in the labour market, they say. There is 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 posted online by tutor2u.net on May 1, 2014
Link to article here

Related publications
Falling Real Wages, David Blanchflower and Stephen Machin. Article in the forthcoming CentrePiece - Volume 19, Issue 1, Spring 2014

Related links
Stephen Machin webpage
Labour Markets Programme webpage

News Posted: 01/05/2014      [Back to the Top]

tutor2u.net

UK Housing Industry: Turning Houses into Gold!

Britain's crisis of housing affordability is nothing to do with foreign speculators, according to Paul Cheshire writing in the Spring 2014 issue of CentrePiece magazine. Rather, it is a result of decades of misguided planning policies that constrain the supply of land and turn houses into something like gold or artworks. Houses have been converted from places in which to live into people's most important financial asset.

This article was posted online by tutor2u.net on May 1, 2014
Link to article here

Related publications
Turning Houses into Gold: the Failure of British Planning, Paul Cheshire. Article from forthcoming CentrePiece - Volume 19, Issue 1, Spring 2014.

Related links
Paul Cheshire webpage
SERC website

News Posted: 01/05/2014      [Back to the Top]

The Daily Telegraph

Britons suffer 'unprecedented' fall in real wages

British workers have suffered an ''unprecedented'' decline in real wages over the past six years, with the average employee £2,000 worse off since the financial crisis hit, according to new research. The average worker saw a 8pc decline in real wages between 2008 and 2013. ''The scale of the real wage falls is historically unprecedented, certainly in the past 50 years where broadly comparable records exist,'' said Paul Gregg, Stephen Machin and Marina Fernandez-Salgado, the authors of the report.

This article was published in The Daily Telegraph on May 1, 2014
Link to article here

Related publications
The Squeeze on Real Wages - And What it Might take to End it, Paul Gregg, Stephen Machin and Marina Fernandez-Salgado. Article in the National Institute Economic Review, Volume 228, No.1, May 2014.

Related links
Stephen Machin webpage
Labour Markets Programme webpage

News Posted: 01/05/2014      [Back to the Top]

Centre for Economic Performance Press Release

UK Income and Wealth Inequality: New film from the Centre for Economic Performance

Should we care about inequality? This short film shows the differences between rich and poor in the UK and how this has changed over the past 50 years.

The film is produced by Econ Films for the Centre for Economic Performance. It is funded by the Economic and Social Research Council and uses data from the Office for National Statistics, British Household Survey and Institute for Fiscal Studies.


The Centre for Economic Performance press release - published online on May 1, 2014 - is downloadable here.
View the film here.


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

News Posted: 01/05/2014      [Back to the Top]

FT Alphaville blog

Robots, jobs and TFL strikes

FT Alphaville was invited to participate in a panel debate about the implications of technological progress on jobs and labour, organised and hosted by the think-tank Resolution Foundation. Chairing the event was Channel 4 News' Faisal Islam. Joining yours truly among the panelists was economist and author Diane Coyle, of Enlightenment Economics, Alan Manning, Professor of Economics at LSE and Michael Osborne, machine learning expert and associate professor at Oxford University. ...Alan Manning erred on the side of techno optimism but warned that everything will depend on who owns the robots, and how we redistribute those capital gains.

This article was published by FT Alphaville blog on April 29, 2014
Link to article here

Related publications
Lovely and lousy jobs. Article in CentrePiece Volume 18, Issue 2, Autumn 2013
Initial research was published in 'Lousy and Lovely Jobs: The Rising Polarization of Work in Britain', Maarten Goos and Alan Manning, CEP Discussion Paper No. 604, December 2003
This paper has also been published as: Review of Economics and Statistics 89(1): 118-33, February 2007

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

News Posted: 29/04/2014      [Back to the Top]

ftalphaville

Chart of the day: US vs UK median real wage growth since 1988

Chart for the day taken from 'an essay by David Blanchflower and Stephen Machin.

Blanchflower and Machin, have a dark interpretation. They worry that the trend path for American wages shown in the chart could be a precursor to what will happen to British wages.

This article was published in the FT Alphaville blog on April 29, 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
See advanced copy here

Related links
Stephen Machin webpage
Labour Markets Programme webpage

News Posted: 29/04/2014      [Back to the Top]

The Daily Telegraph

Thomas Piketty's bestselling post-crisis manifesto is horrendously flawed

Piketty's believes that in a peacetime free-market economy, the returns on capital - dividends, interest, rents and capital gains - inevitably grow faster than the overall economy. The owners of capital will therefore end up grabbing an ever-greater slice of the pie, leaving workers with less and less. I buy neither the prediction nor the proposed solution. For a start, Joao Paulo Pessoa and John Van Reenen from the LSE have shown that the share of UK income going to labour is largely the same now as it was 40 years ago, unlike in America. And if the returns to capital do go up, more money will eventually be invested to reap the rewards - and that, in turn, will increase productivity and hence wages, and keep down capital's share of GDP.

This article was published by the Daily Telegraph on April 29, 2014
Link to article here

Related publications
Wage growth and productivity growth: the myth and reality of 'decoupling', Joao Paulo Pessoa and John Van Reenen. Article in CentrePiece Volume 18, Issue 2, Autumn 2013
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

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

News Posted: 29/04/2014      [Back to the Top]

Inside Housing.co.uk

More of Surrey devoted to golf than housing

More of Surrey is now devoted to golf courses than housing, new research branding the green belt 'discriminatory zoning' has found.

This article was published by Inside Housing.co.uk on April 28, 2014
Link to article here. [Subscription needed to access complete article.]

Related links
Paul Cheshire webpage
SERC website


News Posted: 28/04/2014      [Back to the Top]

The Guardian

Funding UK higher education: why we shouldn't copy Australia

Adopting the Australian tuition fee system could result in poorer students staying away from expensive courses say Gill Wyness and Richard Murphy in a blog article for the Guardian newspaper.

They say it is not clear why the UK would want to emulate the Australian system. Charging fee levels according to how much one might earn in the future, rather than according to the cost of actually providing the degree, could exacerbate socioeconomic inequalities if debt-averse students (usually from poorer backgrounds) choose to study low-priced subjects that will go on to deliver lower wages.

There have been murmurings of a similar system in the UK, but with fees linked to the institution attended rather than the subject studied. Such a system would suffer from the same kinds of problems, with debt-averse students potentially staying away from high-fee elite institutions.

This article was published in The Guardian on April 28, 2014
Link to blog article here

Related links
Richard Murphy webpage
Gill Wyness webpage
Education and Skills Programme webpage
The Economics of Higher Education research network webpage

News Posted: 28/04/2014      [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]

Daily Mail

Golf takes more land in Surrey than houses

More land in Surrey is dedicated to playing golf rather than housing, new research has shown. Prof Paul Cheshire, researcher at the Spatial Economics Research Centre at the LSE said green belts were driving up the price of houses and subsidising activities such as golf Prof Cheshire said in London alone there was enough green belt land to build an estimated 1.6 million new homes with average densities. He said the land bank was about 32,500 hectares and could have an impact on the cost of homes in the region.

This article appeared in the Daily Mail on 27 April 2014 link to article

Related Publications
Turning Houses Into Gold: The Failure of British Planning Paul Cheshire April 2014, in CentrePiece, volume 19 issue 1

Related Links
Paul Cheshire webpage
SERC webpage

News Posted: 27/04/2014      [Back to the Top]

The Observer

Why Surrey has more land for golf courses than for homes

A study by the Centre for Economic Performance at LSE suggests soaring house prices are not caused by an influx of foreign buyers but are down to restrictive planning policies that have ensured the country's green belt is a form of "discriminatory zoning, keeping the urban unwashed out of the home counties". Paul Cheshire, professor emeritus of economic geography at LSE and a researcher at the Spatial Economics Research Centre, has produced data showing that restrictive planning laws have turned houses in the south-east into valuable assets in an almost equivalent way to artworks. He points out that twice as many houses were built in Doncaster and Barnsley in the five years to 2013 than in Oxford and Cambridge

This article appeared in the Observer on 27 April 2014 link to article

Related Publications
Turning Houses Into Gold: The Failure of British Planning Paul Cheshire April 2014, in CentrePiece, volume 19 issue 1

Related Links
Paul Cheshire webpage
SERC webpage

News Posted: 27/04/2014      [Back to the Top]

The Times

More British women are happy to go without children

Nattavudh Powdthavee, a behavioural economist at the London School of Economics, has studied the more immediate impact of having children and concluded that it is a mixed blessing. While there is a significant increase in life satisfaction for both men and women one year before the birth of their child and during the birth year, this was generally followed by a sharp fall. Four years on, parents were no happier than they were at pre-child levels.

This article was published in the Times on 24 April 2014 link to article

Related Links
Nattavudh Powdthavee webpage
Nattavudh Powdthavee’s CEP publications webpage
Wellbeing webpage

News Posted: 24/04/2014      [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]

The Independent

The coalition deceived us that wage growth has overtaken inflation, but Labour still needs a credible plan for the cost of living crisis

Article by David Blanchflower
Professor Steve Machin and I in a new paper conjecture that real wages are not going to move strongly positive soon. Chances are the UK has simply moved close to the US experience of broadly flat real wages over decades. It is quite clear that the UK economy is still well above full employment and there is a large amount of slack in the labour market. 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 by The Independent on April 22, 2014
Link to article here

Related publications
'Falling Real Wages', David Blanchflower and Stephen Machin. Forthcoming in CentrePiece Volume 19, Issue 1, Spring 2014
CentrePiece magazine details here

Related links
Stephen Machin webpage
Labour Markets Programme webpage

News Posted: 22/04/2014      [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]

Science Magazine

Problematic permitting

An article discussing research from the Centre for Economic Performance by Ralf Martin, Mirabelle Muuls, Laure B. de Preux and Ulrich J. Wagner was featured in the ''Editor's'' choice section in the latest edition of the Science Magazine.

When faced with environmental regulations and the costs they impose, companies may relocate to a less-regulated jurisdiction, taking with them jobs and contributing to ''leakage'' in which targets of regulation, such as carbon emissions, are not reduced, just redistributed. To retain companies, jurisdictions often include exemptions and other incentives in their regulations. Yet these incentives may be seen as taxpayer-funded ''handouts'' to industry, threatening political support. Thus, the balance is critical. Martin et al. studied the European Union (EU) Emissions Trading Scheme (ETS), which offered emissions permits for free, rather than auctioning them, to many companies deemed at risk of relocating. They interviewed managers of 761 manufacturing firms across six EU countries, and combined this with economic performance data and official ETS carbon emissions data. They found that reductions in the risk of relocation under the ETS permit allocation rules could have been achieved with far fewer free permits. The mismatch was especially problematic in terms of reducing the risk of job loss. Although their initial analyses drew on information gleaned from interviews with companies, the authors developed permit allocation schemes that drew on more easily accessible information, such as firm-level employment and carbon emissions, that were still more effective in terms of minimizing leakage and job loss. Such optimization is critical as ETS considers revising its permitting process, and more emissions trading markets worldwide adopt similar exemption rules.

This article was featured in Science Magazine, Volume 344, Number 6180, Issue of 11 April 2014
Link to article here

Related publications
'Industry Compensation Under Relocation Risk: A Firm-Level Analysis of the EU Emissions Trading Scheme', Ralf Martin, Mirabelle Muuls, Laure B. de Preux and Ulrich J. Wagner, Centre for Economic Performance Discussion Paper No.1150, June 2012

Related links
Ralf Martin webpage
Mirabelle Muuls webpage
Laure B. de Preux webpage
Ulrich J. Wagner webpage
Productivity and Innovation Programme webpage
Globalisation Programme webpage

News Posted: 11/04/2014      [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]

BBC (web)

Mental health cuts cost NHS millions

More cases of psychosis and schizophrenia now end up in hospital rather than being treated in the community, it said. Rethink Mental Illness published the report with the London School of Economics. Cuts mean fewer people have access to early intervention treatment, such as talking therapy, Rethink said. It said the NHS could save more than £50m a year by shifting its focus.

This article was published online by BBC 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]

ITV.com (web)

LSE report: NHS could save millions on mental health

The National Health Service could be saving millions of pounds each year by investing in early intervention services for people with mental illnesses, according to a new report from the London School of Economics. The report by LSE and the charity Rethink Mental Illness revealed that for every £1 spent on intervention treatments for people with psychosis and schizophrenia, the NHS could save £15 on expensive hospital care later on.

This article was published online by ITV.com 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]

Quartz

One way to stop surging British house prices - build more wind farms

A new research paper highlights one way to keep property prices in check - put up some wind turbines in the neighborhood. Stephen Gibbons of the London School of Economics (LSE) looked at property sales since 2000 and found that house prices within 8 kilometers (5 miles) of visible wind farms were lower than those nearby but out of sight of the turbines. Average prices were up to 6 percent lower in areas with a visible wind farm within 2 kilometers, and the effect gets worse the more turbines dot the horizon - prices were 12 percent lower if 20 or more turbines were visible within that range.

This article was published online by Quartz on April 10, 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: 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]

Daily Telegraph

Why shouting at children will only make their behaviour worse

"In this group, externalising behavioural problems are reduced when mothers read to the child, and increased when mothers shout at the child when naughty, take treats away, or ignore the naughty child," it said. But the study, led by Dr Laure De Preux research offer at the LSE’s Centre for Economic Performance, warned that a large number of other factors also impact on children’s wellbeing which may “bias the results”.

This article appeared in the Daily Telegraph link to article

Related Links
Laure de Preux webpage
Laure de Preux CEP publications webpage


News Posted: 08/04/2014      [Back to the Top]

Daily Mail

Shouting at naughty children makes their behaviour worse

Children in less privileged households were 'more affected by their mother’s parenting style' than in wealthier families. The report, led by Dr Laure de Preux, also found that ‘participation in physical activity encouraged by the mother improves physical health but harms mental health.’

This article appeared in the Daily Mail on 7 April 2014 link to article

Related Links
Laure de Preux webpage
Laure de Preux CEP publications webpage

News Posted: 07/04/2014      [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]

The Independent

House prices, waste incinerator plants and wind farms

Preliminary findings from a report due out later this year from the LSE indicates there is a drop of up to 15 per cent in house value due to nearby wind farms.

This article was published by The Independent on April 3, 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: 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]

Yahoo! Finance

ECBs deflation paralysis drives Italy, France and Spain into debt traps

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 Yahoo! Finance on April 2, 2014
Link to article here

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]

BusinessGreen.com

Reports: Lib Dems block Conservative onshore wind farm veto

A new report commissioned by RenewableUK found wind farms have no negative impacts on house prices within a five kilometre radius and can even push up property prices in some parts of the country. The industry report pre-empts the release of a study by Professor Stephen Gibbons at the London School of Economics, which is expected to argue that operational wind farms can reduce house prices by around seven per cent if they are located up to 5km from the wind farm site.

This article was published online by BusinessGreen.com on April 1, 2014
Link to article here

Related publications
'Gone with the wind: valuing the local effects of wind turbines through house prices' by Stephen Gibbons. Draft report link

Related Links
Steve Gibbons webpage
SERC website


News Posted: 01/04/2014      [Back to the Top]

Wellesley.edu.com

Capital Ebbs and Flows blog

Blog by Joseph P. Joyce, Professor of Economics at Wellesley College and the Faculty Director of the Madeleine Korbel Albright Institute for Global Affairs.

Ukraine's track record with the IMF is not a good one. In November 2008 as the global financial crisis intensified, the IMF offered Ukraine an arrangement worth $16.4 billion. But only about a third of that amount was disbursed because of disagreements over fiscal policy. Another program for $15.3 billion was approved in 2010, but less than a quarter of those funds were given to the country.

The recidivist behavior is the product of a lack of political commitment to the measures contained in the Letters of Intent signed by the government of Ukraine. Ukraine, like other former Soviet republics, was slow to move to a market system, and therefore lagged behind East European countries such as Poland and Romania in adopting new technology. Andrew Tiffin of the IMF attributed the countr's economic underachievement to a 'market-unfriendly institutional base' that has allowed continued rent-seeking. Promises to enact reform measures have been made but not fulfilled. Are the chances of success any better now? Peter Boone of the Centre for Economic Performance at the London School of Economics and Simon Johnson of MIT are not convinced that there has been a change in attitude within the Ukrainian government, despite the overthrow of President Viktor Yanukovych. Consequently, they write: 'There is no point to bailing out Ukraine's creditors and backstopping Ukrainian banks when the core problems persist: pervasive corruption, exacerbated by the ability to play Russia and the West against each other.'

The article was posted online on the Wellesley.edu.com blog on March 31, 2014
Link to article here

Related links
Peter Boone webpage
Effective Intervention Programme webpage

News Posted: 31/03/2014      [Back to the Top]

BBC Radio Norfolk

News

Research by Professor Steve Gibbons cited in a discussion of a new report commissioned by Renewable UK which has concluded that having a wind farm nearby does not affect the value of a house - which contradicts the findings of the report from LSE.

The interview was broadcast on BBC Radio Norfolk News on March 31, 2014
No link available.

Related publications
'Gone with the wind: valuing the local effects of wind turbines through house prices' by Stephen Gibbons. Draft report link

Related Links
Steve Gibbons webpage
SERC website


News Posted: 31/03/2014      [Back to the Top]

The Guardian

Property prices unaffected by windfarms, says CEBR

The CEBR findings contradict separate research by the London School of Economics, which found that if a windfarm is visible from a house, on average it knocks 5-6% off its sale price, and as much as 15%. It suggested that a typical windfarm of 11 turbines would face a bill of £12m to compensate houses within 4km.

This article was published by the Guardian on March 29, 2014
Link to article here

Related publications
'Gone with the wind: valuing the local effects of wind turbines through house prices' by Stephen Gibbons. Draft report link.

Related Links
Steve Gibbons webpage
SERC website

News Posted: 29/03/2014      [Back to the Top]

IZA Newsroom

In the gym and on the job: creatine makes successful

Researchers show that a higher level of creatinine is correlated with a higher income and more working years.

This press release was published by IZA on March 28, 2014
Link to press release here

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

News Posted: 28/03/2014      [Back to the Top]

El Economista.es

¿Y si España adopta el modelo Florida? Atraer jubilados para generar riqueza

Que la gente de fuera venga a Espana a jubilarse. Esta es la propuesta que hace el economista y catedratico de la London School of Economics, Luis Garicano. Pide apostar por lo que llama el ''modelo Florida''...Para ello, plantea eliminar el IRPF a los mayores de 65 anos, una medida un tanto polemica dada la piramide de edad de la poblacion... People from outside should come to Spain to retire. This is the proposal made by the economist and professor at the London School of Economics, Luis Garicano. Calls to bet on what he calls the "Florida model"...To do this, is to eliminate the income tax for over 65 years, a somewhat controversial move given the age structure of the population.

This article was published by El Economista.es on March 28, 2014
Link to article here

Also in:
Actualidades.es

Related Publications
El dilema de Espana, Luis Garicano. Book published in January 2014. More details here

Related links Luis Garicano webpage
Productivity and Innovation Programme webpage

News Posted: 28/03/2014      [Back to the Top]

El Confidencial

UPyD cree que cualquier déficit por encima del 6 % del PIB es ''gigantesco''

Por su parte, Garicano ha dicho que existe ''peligro real'' de que Espana entre en una espiral de deflacion - caida continuada de precios -, en referencia a la tasa negativa del 0,2% del IPC de marzo.Ha asegurado que el mercado laboral espanol ''no tiene ni pies ni cabeza'' y ha hecho hincapie en la necesidad de que empresas y familias reduzcan su deuda. Asimismo, el catedratico de la London School of Economics ha criticado el sistema educativo de Espana y ha afirmado que la creencia de ''que tenemos a la generacion mejor formada es una patrana''. Meanwhile, Garicano said that there is ''real danger'' spiraling deflation-falling prices could continue in Spain, referring to the negative rate of 0.2% in the CPI for March. He assured that the Spanish labor market ''has neither head nor tail'' and emphasized the need for companies and households to reduce their debt. Also, the professor at the London School of Economics has criticized the education system in Spain and has stated that the belief ''that we have the best-educated generation is a hoax.''

This article was published by El Confidencial on March 28, 2014
Link to article here

Also in:
Expansion.com
Invertia

Related links
Luis Garicano webpage
Productivity and Innovation Programme webpage

News Posted: 28/03/2014      [Back to the Top]

Regeneration and Renewal blog

Apres le SEP, le deluge?

We probably learnt relatively little new from the LEP Network Annual Conference 2014, held in London this week, but perhaps we saw something(s) quite profound. The conference restated many of the major priorities for next steps in enhancing local leadership of economic growth in England. Similarly, it raised a number of fundamental issues LEPs need to address if they are to become credible principal institutions in this process. Most presentations - including Vince Cable's - were able to highlight a number of individual initiatives they think are innovative and interesting. Whether these will deliver long term sustainable positive economic impact is less clear in these early days. Henry Overman's presentation on the 'What works centre...' encouraged use of, and engagement with, evaluation evidence - with the first of their 'evidence reviews' due for publication next week.

This article was posted on the Regeneration and Renewal blog on March 27, 2014
Link to article here

Related links
Henry Overman webpage
SERC website
Henry Overman CEP publications webpage
What Works Centre for Local Economic Growthwebsite

News Posted: 27/03/2014      [Back to the Top]

The New York Times Economix blog

China's Shadow Banking Malaise

Article by Peter Boone and Simon Johnson
With the United States economy still struggling to regain full employment, the European economy becalmed in the aftermath of a serious sovereign debt crisis and many emerging markets looking increasingly vulnerable, global macroeconomic attention has become increasingly focused on China. Will China's economy slow down, and would such a development carry serious financial fallout, even some sort of crisis?

This article was posted on The New York Times Economix blog on March 27, 2014
Link to article here

Related links
Peter Boone webpage
Effective Intervention Programme webpage
Peter Boone CEP publications webpage

News Posted: 27/03/2014      [Back to the Top]

ESADE

Luis Garicano a ESADE: ''Espanya té un problema molt seriós de governança''

L'economista proposa que s'elimini l'IRPF per als mes grans de 65 anys i aposta pel “model Florida”
''Per sortir de la crisi a Europa, es necessita, com a minim, la unio bancaria i un sistema contra ciclic d'ajuda a la desocupacio, amb politiques que realment funcionin.'' Aixi s'ha expressat Luis Garicano, economista i catedratic de la London School of Economics, en una sessio a ESADE amb motiu de la presentacio del seu llibre El dilema de Espana. Ser mas productivos para vivir mejor.

The Economist proposes that eliminate the PERSONAL INCOME TAX for those older than 65 years and is committed to "Florida model"
''To overcome the crisis in Europe, it needs, at least, the Banking Union and a cyclic system helps unemployment, with policies that actually work.'' So has expressed Luis Garicano, an economist and Professor at the London School of Economics, in a session at ESADE on the occasion of the presentation of his book El dilemma de Espana. Be mas productivos para vivir mejor.


This article was published by ESADE on March 27, 2014
Link to article here

Related Publications
El dilema de Espana, Luis Garicano. Book published in January 2014. More details here.

Related links
Luis Garicano webpage
Productivity and Innovation Programme webpage

News Posted: 27/03/2014      [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 Economist (Online)

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 appeared in the Economist on 27 March 2014 link to article

Related Publications
Wellbeing and Policy, Gus O'Donnell, Angus Deaton, Martine Durand, David Halpern and Richard Layard, March 2014 Link to report

Related Links
Richard Layard webpage
Gus O'Donnell webpage
Wellbeing Programme webpage

News Posted: 27/03/2014      [Back to the Top]

Bloomberg News

Modern Rosie the Riveter a path to women's higher pay

In the UK, the majority of new apprentices in 2012 were women. Still, much of the growth for women in the UK system has been in lower-wage levels of apprenticeships, which include service occupations, said Hilary Steedman, senior research fellow at the London School of Economics and Political Science. ''It's a bit discouraging at the moment,'' she said. ''If women were moving into higher-level apprenticeships, their earnings would be much higher.''

This article was published by Bloomberg News on March 26, 2014
Link to article here

Also in
HeraldNet on March 27, 2014
Women move into trades in search of higher pay
NorthJersey.com on March 30, 2014
Modern Rosie the Riveter a Path to U.S. Women's Higher Pay

Related links
Hilary Steedman webpage
Education and Skills Programme webpage
Hilary Steedman CEP publications webpage

News Posted: 26/03/2014      [Back to the Top]

Forbes

Alan Krueger On Long Term Unemployment; Important, Correct And Definitely Not New

Alan Krueger is the co-author of a new paper pointing out that we need to think of the effects of short- and long-term unemployment differently. A third way of describing Kruger here is to say that the American unemployment problem has become much more like the European one. As my old Professor, Richard Layard, pointed out 13 years ago:

For example, Europe has a notorious unemployment problem. But if you break down unemployment into short-term (under a year) and long-term, you find that short-term unemployment is almost the same in Europe as in the U.S. - around 4 percent of the workforce. But in Europe there are another 4 percent who have been out of work for over a year, compared with almost none in the United States. The most obvious explanation for this is that in the U.S. unemployment benefits run out after 6 months, while in most of Europe they continue for many years or indefinitely.

We'll come back to Layard for he has been working on this very topic for at least 30 years.

This article was published online by Forbes on March 22, 2014
Link to article here

Related publications
The Causes of Unemployment (1984), C. Greenhalgh, A. Oswald and R. Layard (Eds), Oxford University Press.
How to Beat Unemployment (1986), Richard Layard, Oxford University Press.
The Rise in Unemployment (1987), Charlie Bean, Stephen Nickell and Richard Layard (Eds), Basil Blackwell.
Unemployment, Macroeconomic Performance and the Labour Market (1991), Richard Jackman, Richard Layard and Stephen Nickell (Eds), Oxford University Press. Reissued 2005 with a new Introduction.
The Unemployment Crisis (1994), Richard Jackman, Richard Layard and Stephen Nickell (Eds), Oxford University Press.
Tackling Unemployment (1999), Macmillan.
Combatting Unemployment, IZA Prize Volume (2011), Richard Layard and Stephen Nickell, Oxford University Press.

Related links
Richard Layard webpage
Wellbeing Programme webpage
Labour Markets Programme webpage


News Posted: 22/03/2014      [Back to the Top]

Entrepreneurindia.in

Do you have what it takes to be an entrepreneur?

Entrepreneurs exist to defy conventional wisdom. A survey last year by Ross Levine of the University of California, Berkeley, and Yona Rubinstein of the London School of Economics found that among incorporated entrepreneurs, a combination of 'smarts' and "aggresive, illicit, risk taking activities" is a characteristic mix. This often shows up in youth as rebellious behavior, such as pot-smoking. That description would certainly hold true for some of the most famous entrepreneurs of recent years.

This article appeared in Entrepreneurindia.in link to article

Related Publications
In brief...'Smart and illicit': the making of a successful entrepreneur Ross Levine, Yona Rubinstein, December 2013, Paper No' CEPCP399
'Smart and Illicit: Who Becomes an Entrepreneur and Does it Pay?' by Ross Levine and Yona Rubinstein, CEP Discussion Paper No. 1237

Related Links
Yona Rubinstein webpage
Productivity and Innovation webpage

News Posted: 21/03/2014      [Back to the Top]

Free Malaysia Today

Study: ‘Mid-life crisis' is real

The study was completed with assistance from the University of Warwick and the London School of Economics, and published as a working paper by the German-based Institute for the Study of Labor. Researchers analyzed data from “nationally representative” surveys in Australia, Britain and Germany. “What is interesting is the consistency of the results in all of the three countries we examined. Human happiness hits the lowest point around the ages of 40 to 42,” Dr Cheng said. “Indeed all the more intriguing is that the U-shape pattern has been recently observed in research on great apes. Perhaps we are more similar than we think?”

This article appeared on Free Malaysia Today on 21 March 2014 link to article

Also in:
Huffington Post Canada link to article
New York Daily News link to article
CNBC link to article

Related Publications
Nattavudh Powdthavee’s CEP Publications

Related Links
Nattavudh Powdthavee webpage
Wellbeing webpage

News Posted: 21/03/2014      [Back to the Top]

Daily Telegraph

Pensioners who do not volunteer reduce their life expectancy, says Lord O'Donnell

Pensioners who do not volunteer to help others when they retire are knocking years off their life expectancy, according to a former Cabinet Secretary. Lord O'Donnell said that people in their mid-60s should volunteer to care for people much older or younger to prolong their lives and stay out of hospital. Not volunteering was the equivalent of taking up a 15 cigarettes a day habit on the day they retire, he said. The peer is the author of a 96-page review by the Legatum Institute which recommends the Government should consider the economic cost on people's happiness from its policies. One of the key recommendations is for ministers to encourage pensioners to stay busy when they retire in order to remain healthy and stay out of hospital.

This article was published in The Daily Telegraph on March 21, 2014
Link to article here

Related Publication
'Wellbeing and Policy', Gus O'Donnell, Angus Deaton, Martine Durand, David Halpern and Richard Layard, March 2014 Link to report

Related Links
Richard Layard webpage
Gus O'Donnell webpage
Wellbeing Programme webpage

News Posted: 21/03/2014      [Back to the Top]

The Times

Volunteers 'will live for longer'

Lord O'Donnell said that not volunteering to care for the very old or very young was equivalent to starting a 15-cigarette a day habit on the day they retire. His new report for the Legatum Institute recommends that the Government stop measuring success in terms of GDP and focuses more on the happiness and wellbeing of its people. It included the key recommendation that more must be done to keep pensioners active and connected with the community. Lord O'Donnell told The Daily Telegraph: "Loneliness is the basic equivalent of smoking 15 cigarettes a day in terms of what it will do for your life expectancy. The ageing population is very expensive. Some people are basically very lonely and, if they are lonely, their health deteriorates and they end up spending more time in hospital."

This article appeared in the Times on 21 March 2014 link to article

Related Publication
Wellbeing and Policy Gus O'Donnell, Angus Deaton, Martine Durand, David Halpern and Richard Layard, March 2014 link to report

Related Links
Richard Layard webpage
Gus O'Donnell webpage
Wellbeing webpage

News Posted: 21/03/2014      [Back to the Top]

Special Broadcasting Service

Happiness levels lowest at 40: Study

"Human happiness hits the lowest point around the ages of 40-42," says Dr Cheng, who worked with colleagues from the University of Warwick and the London School of Economics."The jury's now in poeple really do experience mid-life crises."

This article appeared on Special Broadcasting Service on 20 March 2014 link to article

Related Publications
Nattavudh Powdthavee’s CEP Publications

Nattavudh Powdthavee webpage
Wellbeing webpage

News Posted: 20/03/2014      [Back to the Top]

Guardian.co.uk

Midlife crisis: it's the real thing

Study of Labour in Germany. "Human happiness hits the lowest point around the ages of 40 to 42," says Cheng, who worked with colleagues from the University of Warwick and the London School of Economics. "What is interesting is the consistency of the results in all of the three countries we examined." He said it was intriguing that the U-shape pattern had also been observed in recent research on great apes: “Perhaps we are more similar than we think.”

This article appeared in the Guardian online on 20 March 2014 link to article

Related Publications
Nattavudh Powdthavee’s CEP Publications

Related Links
Nattavudh Powdthavee webpage
Wellbeing webpage

News Posted: 20/03/2014      [Back to the Top]

Evening Standard

Anthony Hilton: Annuities applause - but a hidden hitch

This plays to the results of a survey published this week by the charity Action for Happiness, one of whose founders is Lord Richard Layard, an emeritus professor at the London School of Economics. It argues that the Budget ought to be to maximise people's well-being - "to help people to thrive not just to survive" as Layard puts it - whereas the focus of the Chancellor and the Government is entirely on increasing national wealth.

This article appeared in the Evening Standard on 20 March 2014 link to article

Related Publication
Wellbeing and Policy Gus O'Donnell, Angus Deaton, Martine Durand, David Halpern and Richard Layard, March 2014 link to report

Related Links
Richard Layard webpage
Gus O'Donnell webpage
Wellbeing webpage

News Posted: 20/03/2014      [Back to the Top]

BBC online

Vicar or publican - which jobs make you happy?

A report out on Thursday from the former head of the civil service, Sir Gus O'Donnell commissioned by the Legatum Institute, explains the impact wellbeing research is already having on policy and argues for more of it in the future.It confirms what the chancellor must know - that economic growth is indeed good for social wellbeing. But there are other areas of state activity that might be given greater priority if politicians want to improve the nation's happiness. An emphasis on improving mental health is one, ensuring towns and cities include plenty of places where residents can meet and interact is another. There is evidence that an "active" welfare system encouraging people into work is better for wellbeing than a "passive" safety-net approach.

This article appeared on BBC Online on 20 March 2014 link to article

Related Publication
Wellbeing and Policy Gus O'Donnell, Angus Deaton, Martine Durand, David Halpern and Richard Layard, March 2014 link to report

Related Links
Richard Layard webpage
Gus O'Donnell webpage
Wellbeing webpage

News Posted: 20/03/2014      [Back to the Top]

Huffington Post

Happiness Matters More Than Wealth, Say Majority of People

But today also sees the launch of a vitally important new Legatum Institute report from the Commission for Wellbeing and Policy. Chaired by former Cabinet Secretary Lord O'Donnell, the Commission's report proposes a radical reform of public policy-making to focus on wellbeing, not simply growth. It also identifies key policy areas where greater action is essential - like investment in mental health services and more support for parents.

This article appeared in the Huffington Post on 20 March 2014 link to article

Related Publication
Wellbeing and Policy Gus O'Donnell, Angus Deaton, Martine Durand, David Halpern and Richard Layard, March 2014 link to report

Related Links
Richard Layard webpage
Gus O'Donnell webpage
Wellbeing webpage

News Posted: 20/03/2014      [Back to the Top]

The Economist

Internal migration: Not on your bike

Britons are moving around less than they used to
Alan Manning, an academic at the London School of Economics, suggests low migration makes struggling towns more vulnerable to economic shocks: if they cannot move to work, people who lose their jobs will take much longer to find new ones.

This article was published by the Economist on March 20, 2014
Link to article here

Related Publications
Alan Manning's CEP Publications webpage

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

News Posted: 20/03/2014      [Back to the Top]

Financial Times

Put the pursuit of wellbeing at the heart of public policy

Article by Gus O'Donnell
Our report identifies areas to address: health, social care, and law and order. Notably, they are where the goods and services involved do not have market prices, or whose prices often do not properly reflect the broader value people ascribe to them. They are areas where it is not always possible to make a well-informed choice in a well-functioning market. They are areas where policy has to be directed at things that just happen to you, such as falling ill or being robbed; or where it is easy to make bad choices, perhaps because of a lack of information or in response to behavioural influences. So researchers are building models of how people actually behave rather than - as in traditional, "rational" models - how we assume they do.

This article appeared in the Financial Times on 20 March 2014 link to article

Related Publication
Wellbeing and Policy Gus O'Donnell, Angus Deaton, Martine Durand, David Halpern and Richard Layard, March 2014 link to report

Related Links
Richard Layard webpage
Gus O'Donnell webpage
Wellbeing webpage

News Posted: 20/03/2014      [Back to the Top]

Daily Telegraph

A happiness index makes for sound economics

But first, political leaders must be persuaded to measure success in terms of wellbeing and not just GDP. This is the main conclusion of a report published by former top civil servant Sir Gus, now Lord, O'Donnell for the Legatum Institute, a London-based think tank. It was launched yesterday in Germany, where Chancellor Angela Merkel is said to be keen on its ideas. And David Cameron signed up to the idea of a wellbeing index back in 2010.

This article appeared in the Daily Telegraph on 20 March 2014 link to article

Related Publication
Wellbeing and Policy Gus O'Donnell, Angus Deaton, Martine Durand, David Halpern and Richard Layard, March 2014 link to report

Related Links
Richard Layard webpage
Gus O'Donnell webpage
Wellbeing webpage


News Posted: 20/03/2014      [Back to the Top]

CEP Press Release

Report calls for wellbeing to be at the heart of public policy design

Professor Lord Richard Layard of the Centre for Economic Performance is part of an independent commission established by The Legatum Institute, proposing a radical reform of public policy-making, targeted at “wellbeing”, or life satisfaction, not simply economic growth.
The Commission's report, Wellbeing and Policy concludes that GDP is too narrow a measure of prosperity. Instead, policy should aim at increasing people’s satisfaction with their lives, using measures of wellbeing as an indicator of success. The report explains how to define and measure wellbeing, and demonstrates how it can be used to measure the success of different policies and different countries.

Details of the report were released on 20 March 2014

Related Publication
Wellbeing and Policy Gus O'Donnell, Angus Deaton, Martine Durand, David Halpern and Richard Layard, March 2014 link to report

Related Links
Richard Layard webpage
Gus O'Donnell webpage
Wellbeing webpage

News Posted: 20/03/2014      [Back to the Top]

The Conversation

Budget 2014: experts respond

Chancellor George Osborne has unveiled his fourth budget. As the day develops, our panel of experts here give their take on what this budget means for the economy, healthcare, education, the environment and, of course, ordinary members of the public.

Jo Blanden, Senior Lecturer in Economics and Deputy Head of School, University of Surrey and Associate of the Centre for Economic Performance
The BBC has summarised today's budget as about ''pensions, savings and bingo'' and indeed there does seem to be a strong focus on the older generation. Politically this makes sense for the Conservatives as older, wealthier groups are more likely to consider voting Tory. But economically the group which has lost out most in the aftermath of the recession is the young with 20 percent unemployment among the 18-24 year olds and average earnings reduced by 8 percent for those in their 20s.

Ironically intergenerational inequalities were eloquently identified by Conservative Minister David Willets even before the recession started in his well-received book The Pinch. The new pension arrangements are set to net the Treasury a tidy sum, the hope is it will spend it on programmes to ease the squeeze on Generation Y.

John Van Reenen, Director of the Centre for Economic Performance and Professor of Economics, London School of Economics
George Osborne boasted of Britain's economic strength with raised growth forecast of 2.7 percent this year. But the budget small print admits that this growth only gets national income up where it was in 2008. Under the Chancellor we have suffered the worst squeeze on wages and the slowest recovery for over a century. The government made a huge policy error by accelerating austerity four years ago. Slashing public investment when output was depressed derailed the recovery - it is still a third lower than before the crisis.

Measures on housing policy create a feel-good factor for homeowners that might help boost the Tory vote, but it puts the taxpayer on the hook for huge debts in the decades to come. And Budget benefits to pensioners are good for grabbing the grey vote, but they have been relatively shielded from the turmoil of the last 5 years. The increases in personal allowances are welcome, though the main beneficiaries will not be the very poor. The budget has some tinkering with taxes to stimulate investment in a desperate attempt to deal with the fact that business investment remains depressed. But the cause is again Osborne-omics: the slashing of government investment, depressed demand due to austerity and the failure to sort out the banks.

For decent growth, jobs and pay, we deserve much better than this.

This article was published online by The Conversation on March 19, 2014
Link to article here

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


News Posted: 19/03/2014      [Back to the Top]

The Economist (web)

Why French trade unions are so strong

The Economist explains:
Why are French unions so strong? ... But the works councils' remit ranges unusually wide. Managers must consult health-and-safety councils over such matters as the reorganisation of office furniture, for example, in order to prevent stress. The lay-off of more than ten employees must be negotiated with works councils under a tightly regulated ''social plan''. Unlike in Germany, the relationship in France between managers and union delegates on works councils is often testy. The upshot, as a paper by economists at the London School of Economics pointed out, is that small French firms often choose not to hire more than 49 employees, in order to avoid having to deal with a works council. This brake on growth, as much as strikes or demos, is arguably the main effect of union power in France today.

This article was published online by The Economist on March 18, 2014
Link to blog article here

Related publications
'Firm Size Distortions and the Productivity Distribution: Evidence from France', Luis Garicano, Claire Lelarge and John Van Reenen, Centre for Economic Performance Discussion Paper No.1128, March 2012

Related links
Luis Garicano webpage
John Van Reenen webpage
Productivity and Innovation Programme webpage

News Posted: 18/03/2014      [Back to the Top]

Henry Overman Blog

How Unbalanced is Infrastructure Spending?

Any one reading these reports (especially the first two) would conclude that these figures tell us how existing public expenditure on transport is hugely skewed towards London. This is simply not the case. The best figures we have for the regional distribution of existing public expenditure on transport come from the PESA tables that I quoted above. To repeat, these show "in 2010-11 London received £800 per head (compared to an English average - including London - of around £400). But the second ranked region was the North West with £337 per head.

This article appeared on Henry Overman's Blog on 17 March 2014 link to article

Related Publications
The economic future of British cities Henry Overman, June 2013, Paper No' CEPCP389 in CentrePiece Volume 18, issue 1

Henry Overman webpage
SERC webpage

News Posted: 17/03/2014      [Back to the Top]

Noticias.com

Angel de la Fuente, nuevo director de Fedea

Recientemente, Luis Garicano (London School of Economics), Jesús Fernández-Villaverde (Universidad de Pensilvania) y Tano Santos (Columbia), tres de las principales figuras en al refundación de Fedea, abandonaron sus cátedras………
Recently, Luis Garicano (London School of Economics), Jesús Fernández-Villaverde (University of Pennsylvania), and Tano Santos (Columbia), three of the main figures in the re-foundation of Fedea, they left their positions…….

This article appeared in Noticias.com on 17 March 2014 link to article

Also in:
El Mundo link to article

Related Links
Luis Garicano webpage
Productivity and Innovation webpage

News Posted: 17/03/2014      [Back to the Top]

American Thinker

Jobs numbers: The real story

Another possibility for the declining average workweek is the Affordable Care Act. That law induces businesses with fewer than 50 full-time employees—full-time defined as 30 hours per week—to keep the number of hours low to avoid having to provide health insurance. The jury is still out on this explanation, but research by Luis Garicano, Claire LeLarge and John Van Reenen (National Bureau of Economic Research, February 2013) has shown that laws that can be evaded by keeping firms small or hours low can have significant effects on employment.

This article appeared on American Thinker on 17 March 2014 link to article

Related Publications
Firm Size Distortions and the Productivity Distribution: Evidence from France, Luis Garicano, Claire Lelarge, John Van Reenen, February 2012 , Paper No' CEPDP1128
Firm Size Distortions and the Productivity Distribution: Evidence from France, Luis Garicano, Claire LeLarge, John Van Reenen, NBER Working Paper No. 18841 February 2013

Related Links
John Van Reenen webpage
Luis Garicano webpage
Productivity and Innovation webpage


News Posted: 17/03/2014      [Back to the Top]

e-fundresearch.com

Die Rückkehr des US-Konsumenten

Bereits im Jahr 2003 beschrieb Prof. Alan Manning (London School of Economics) in seinem Paper Lousy and Lovely Jobs: The Rising Polarization of Work in Britain, ein Phänomen, dass wir im Jahr 2014 als empirisch validiert betrachten dürfen. Er prägte den Begriff ''job polarisation''. Dieser bedeutet, dass Anstellungen im höchsten und niedrigsten Einkommenssegment zunehmen, während Mittelschicht Jobs abhanden kommen. In den USA sehen wir seit 2009 exakt jene Job Polarisation. Laut einer Untersuchung des National Employment Law Projects (NELP) betrafen 22 percent der Kündigungen während der Great Recession Low-Wage-Jobs (bis USD 13,83). Nun zeichnen sich eben diese für 58 percent der Recovery Jobs verantwortlich. Bei Middle-Income-Jobs verhält es sich genau umgekehrt.
Already in 2003, Professor Alan Manning (London School of Economics) described in his paper Lousy and Lovely Jobs: The Rising Polarization of Work in Britain, a phenomenon that we must consider in 2014 as empirically validated. He coined the term ''job polarization''. This means that positions in the highest and lowest income brackets take to get lost during middle-class of jobs. In the United States, we see that job since 2009 exactly polarization. According to a study of the National Employment Law project (NELP) 22 percent of the cancellations concerned during the great recession low-wage jobs (up to US $13.83). Now that 58 percent of the recovery are characterized responsible jobs. Middle income jobs it behaves exactly the opposite way.

This article was published by e-fundresearch.com on March 17, 2014
Link to article here

Related publications
Lovely and lousy jobs, Alan Manning. Article in CentrePiece Volume 18, Issue 2, 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 2003
This paper has also been published as: Review of Economics and Statistics 89(1): 118-33, February 2007

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


News Posted: 17/03/2014      [Back to the Top]

The Independent

Bankers don't deserve their bonuses. They should be taxed and the money used to help our struggling young people

A strong justification for taxing bankers' bonuses was provided in an important new paper on the subject by my old pal and director of the centre for economic performance at the London School of Economics, John Van Reenen, and Oxford's Brian Bell, published last week. They analyse the role of financial sector workers in the huge rise of the share of earnings going to those at the very top of the pay distribution in the UK.

This article was published by The Independent on March 17, 2014
Link to article here

Related publications
Bankers and their bonuses, Brian Bell and John Van Reenen, Centre for Economic Performance Occasional Paper No.35, February 2013
Bankers and their bonuses, Brian Bell and John Van Reenen. Article in The Economic Journal V124, F1-F21, February 2014

Related links
Brian Bell webpage
John Van Reenen webpage
Productivity and Innovation Programme webpage

News Posted: 17/03/2014      [Back to the Top]

Greek News online

Is there growth or is it just plain wishful thinking?

Article by Elena Panaritis and Christopher Pissarides
High-profile European officials are playing up the fact that Europe is expected to see positive growth in 2014. But what they don't like to talk about is the fact that it will be miniscule compared to the United States and much of the rest of the world. They also rarely talk about how deeper the recession in Europe has got since the global financial crisis erupted in 2008. It is so deep that Europe still needs a lot more time to get back to where it was in 2007, when advanced countries reached their prerecession peak. Today, domestic output in the Eurozone as a whole is still very low (3% below what it was in 2007), a gap that is not expected to close in 2014. The rate of unemployment in the Eurozone is 12%, compared with 7.5% in 2007.

This article was published online by Greek News on March 16, 2014
Link to article here

Related links
Christopher Pissarides webpage
Macro Programme webpage
Christopher Pissarides CEP publications webpage

News Posted: 16/03/2014      [Back to the Top]

Wall Street Journal

The Hidden Rot in the Jobs Numbers

Another possibility for the declining average workweek is the Affordable Care Act. That law induces businesses with fewer than 50 full-time employees—full-time defined as 30 hours per week—to keep the number of hours low to avoid having to provide health insurance. The jury is still out on this explanation, but research by Luis Garicano, Claire LeLarge and John Van Reenen (National Bureau of Economic Research, February 2013) has shown that laws that can be evaded by keeping firms small or hours low can have significant effects on employment.

This article appeared in the Wall Street Journal on 16 March 2014 link to article

Related Publications
Firm Size Distortions and the Productivity Distribution: Evidence from France, Luis Garicano, Claire Lelarge, John Van Reenen, February 2012, Paper No' CEPDP1128

Related Links
John Van Reenen webpage
Luis Garicano webpage

News Posted: 16/03/2014      [Back to the Top]

Diario de Avisos

Gestión y progreso económico

El enfoque anterior, no obstante, tiene sus limitaciones, pues se basa en el concepto de confianza en la gestión profesional, pero no es una prueba válida sobre el cumplimiento de criterios que avalen lo que se entiende por una buena labor de gestión. Para suplir esta carencia, tenemos la suerte de contar con un programa de investigación lanzado en 2007 por los economistas Nicholas Bloom (Universidad de Stanford) y John Van Reenen (London School of Economics).
Management and economic progress
The previous approach, however, has its limitations, as it is based on the concept of confidence in professional management, but is not a valid test of compliance with criteria that support what is meant by a good work of management. To compensate for this lack, we are fortunate to have a research program launched in 2007 by the economists Nicholas Bloom (Stanford University) and John Van Reenen (London School of Economics).

This article was published by Diario de Avisos on March 16, 2014
Link to article here

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

News Posted: 16/03/2014      [Back to the Top]

CNBC

Cyprus one year on: Russians to the rescue?

Authorities also imposed restrictions on bank transactions in an effort to avoid savers in the country's banks immediately withdrawing their money - the last of which will be removed this spring. "If you take a longer-term view and a Europe-wide view, I think that it was a disastrous thing for them to do because they undermined confidence in entire euro zone structure," Christopher Pissarides a Noble Prize winning economist and chairman of the Council of National Economy of Cyprus, told CNBC

This article appeared on CNBC on 14 March 2014 link to article

Related Links
Christopher Pissarides webpage
Macro Programme webpage

News Posted: 14/03/2014      [Back to the Top]

Huffington Post

Happiness Is More Important Than Money Say Brits In New Survey - What Do You Think?

Co-founder of Action for Happiness, Lord Richard Layard added: "Our national priorities are clearly out of touch with what really matters to people. Our top priority should be people's overall happiness and wellbeing. Above all, we should be giving much more attention to mental health, supporting positive family and community relationships and creating a more trusting society."

This article appeared in the Huffington Post on 14 March 2014 link to article

Related links
Richard Layard webpage
Wellbeing Programme webpage

News Posted: 14/03/2014      [Back to the Top]

Financial Times

Low Pay Commission should become 'powerful watchdog', says founder

The body that sets Britain's national minimum wage should be transformed into a ''powerful new watchdog'' with the aim of lifting a further 1m workers out of low pay, its founder has urged. Prof Sir George Bain, who formerly chaired the Low Pay Commission, which recommends the level for the minimum wage, said the system was in need of serious reform to tackle the pervasive problem of low-pay. In the final report of his review for the Resolution Foundation, a think-tank, Sir George, who set up the LPC in 1999, said the cautious approach of the late 1990s was right for its time, but was now too narrow and shortsighted. Professor Alan Manning of the Centre for Economic Performance was a panel member contributing to the Resolution Foundation Report.

This article was published in the Financial Times on March 14, 2014
Link to article here

Related publications
More than a Minimum: The Resolution Foundation Review of the Future of the National Minimum Wage: The Final Report. Published 13 March 2014.
The UK's National Minimum Wage, Alan Manning. Article in CentrePiece, Vol 14 issue 2, Summer 2009
'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
Community Programme webpage

News Posted: 14/03/2014      [Back to the Top]

El Pais

Por qué no trabajamos menos horas?

Why don't we work fewer hours?
Asks Luis Garicano
Se trata de ser más productivos para vivir mejor. Hacer lo contrario es malgastar el tiempo
It tries to be more productive for a better life. To do otherwise is to waste time
During the worst of the great depression the British economist John Maynard Keynes published an optimistic essay entitled economic possibilities for our grandchildren. In it he predicted that we enjoy 100 years of high economic growth rates, after which the income per capita average in Western countries would be between four and eight times greater than when the article was published in 1930. As a result of this strong increase in well-being, our economic problem, which Keynes characterized as "our basic needs satisfaction", would be resolved. This would allow that leisure time increased dramatically, to the point that suffice a workday three hours a day to achieve the desired level of life. The first part of the prediction was correct. Despite the black that looked like things in 1930, and the black as we see them now, tucked into a new and deeper crisis, there is no doubt that the eight decades that have passed since the Outlook have led to tremendous growth of material wealth. If anything, Keynes was short. By contrast, the second part of his prediction could not be more wrong. We not only do not work less, but that for many of us, maintain the standard of living we assumed daily stress and anxiety. The number of pending tasks accumulate. We arrived late at home, with children already asleep. We spent about one hour less per day per adult in household activities, but this change is not transformed at leisure, but in a substantial increase in the labor force participation of women.

This article was published by El Pais on March 14, 2014
Link to article here

Related links
Luis Garicano webpage
Productivity and Innovation Programme webpage

News Posted: 14/03/2014      [Back to the Top]

Voice of Russia

London's new high-rise homes: ''We haven't seen anything like this before''

London's skyline is set for one of its most radical changes ever, with at least 237 tall buildings set to be constructed in the next few decades, says a report for an architecture think-tank, New London Architecture. NLA says approval has already been given for almost half the new blocks most of which will be for residential use, not office space, meaning major changes to the geography of the entire city. But perhaps the most surprising thing about the new developments is that unlike previous ones, Canary Wharf for example, 80 percent of the new blocks will be residential. That's because there's been a surge in demand for housing; prices in the city are now rising by almost 11 percent a year. Professor Christine Whitehead, a housing expert at the London School of Economics says that's because successive governments failed to foresee the success of the capital as a global hub - and didn't build enough housing elsewhere in the South-East: ''We were taken by surprise but it's inherent in a city of London's type and size that unless we can build vastly in the suburbs or the areas outside London, we're going to have a massive housing problem.''

This article was published online by Voice of Russia on March 14, 2013
Link to article here

Related links
Christine Whitehead webpage
Spatial Economics Research Centre - SERC - website

News Posted: 14/03/2014      [Back to the Top]

Finchannel.com

Depressed employees cost European businesses £77 billion a year

In a recent survey of 500 UK employers, over half believed that employees suffering from stress and depression could still work effectively, contradicting new data from a study of 7000 people. LSE's Professor Martin Knapp and Dr Sara Evans-Lacko from King's College analysed a large cross-European survey which encompassed seven European countries.

This article was published online by Finchannel.com on March 13, 2014
Link to article here

Also in
EurActiv.com
Depression costs European businesses nearly €100 billion per year
Medical Xpress
Depression costs European businesses nearly $130 billion

Related publications
The Mental Health Consequences of the Recession: Economic Hardship and Employment of People with Mental Health Problems in 27 European Countries, Sara Evans-Lacko, Martin Knapp, Paul McCrone, Graham Thornicroft and Ramin Mojtabai, PlosOne, July 26, 2013, DOI: 10.1371/journal.pone.0069792

Related links
Martin Knapp webpage
Sara Evans-Lacko webpage
Wellbeing Programme webpage

News Posted: 13/03/2014      [Back to the Top]

Daily Telegraph

Low Pay Commission needs shake-up to keep up with changing world

Fundamental reform of the minimum wage is needed to keep the system that was introduced 15 years ago up to speed with the changing world of work, according to one of the policy’s key architects. Professor Sir George Bain helped formulate the scheme to tackle poor wages as founding chairman of the Low Pay Commission, the independent body which recommends pay levels to government. But he now wants the body to take on a wider remit, with greater powers. Prof Bain has worked with the Resolution Foundation think tank towards today’s(Thurs)) release of More Than A Minimum, a review of the minimum wage which recommends new ways to keep the commission relevant, now and into the future.

This article appeared in The Daily Telegraph on 12 March 2014 link to article

Related publications
More than a Minimum: The Resolution Foundation Review of the Future of the National Minimum Wage: The Final Report. Published 13 March 2014.
The UK's National Minimum Wage, Alan Manning. Article in CentrePiece, Vol 14 issue 2, Summer 2009
'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
Community Programme webpage


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

Il Sole 24 Ore

Davos, ecco i 214 giovani leader del futuro. La metà sono donne. Solo due gli italiani

Era andata meglio nel 2013, quando il Forum di Davos aveva incluso tra gli Young Leader quattro ''italians'': Fabrizio Campelli di Deutsche Bank, Silvia Console Battilana della Stanford University, l'allora vice-ministro del Lavoro e delle Politiche Sociali Michel Martone, Martina Viarengo del Graduate Institute di Ginevra ed London School of Economics. Mentre, nel 2012, tra i (due) connazionali in lista compariva un ''major of Florence'' sulla buona strada per altre cariche: Matteo Renzi.
Davos, here are the young leaders of the future 2014. Half are women. Only two Italian
Had gone better in 2013, when the Forum in Davos had included among the Young Leaders four ''italians'': Fabrizio Campelli of Deutsche Bank, Silvia Console Battilana at Stanford University, the then Deputy Minister of labour and Social Affairs Michel Martone, Martina Viarengo of the Graduate Institute in Geneva and London School of Economics. While, in 2012, of the (two) fellow in the list appeared a ''major of Florence'' on track for other offices: Matteo Renzi.

This article was published by Il Sole 24Ore on March 12, 2014
Link to article here

Related links
Martina Viarengo webpage
Education and Skills Programme webpage
Martina Viarengo CEP publications webpage

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

World Finance

Adjusting the US Poverty Line

Proponents claim a wage hike would lift millions of Americans out of poverty and close the widening income inequality gap; a sentiment that is echoed by those receiving the sum, who represent 2.8 percent of the nation’s workforce. “Evidence suggests that raising the federal minimum wage from its current level would not destroy many if any jobs and would benefit low-paid workers who are struggling to maintain their living standards” says Alan Manning Professor of labour economics at the London School of Economics.

This article appeared in World Finance on 12 March 2014, download the magazine here

Related Publications
Minimum Wages and Wage Inequality: Some Theory and an Application to the UK Tim Butcher, Richard Dickens, Alan Manning, November 2012 Paper No' CEPDP1177

Related Links
Alan Manning webpage
Labour Markets webpage

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

City AM

Letters to the Editor

Joe Valentine makes some nice noises about why mayoral targets and limited planning reform will do little to ease the housing crisis. But she doesn't go far enough. She quotes Paul Cheshire of the LSE, and his calculation that taking a 1km ring of greenbelt land inside the M25 would yield enough land for a generation of house building in London. But Valentine fails to note that Cheshire thinks the greenbelt should disappear entirely – it’s socially exclusive, has little environmental rationale, and benefits the very affluent. It should go altogether

This article appeared in City AM on 12 March 2014 link to article

Related Links
Paul Cheshire webpage
SERC webpage

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

Information Daily.com

Recessions breed racism and discrimination, says LSE

The high unemployment rates associated with a recession lead to ethnic minorities disproportionately suffering, says the London School of Economics and Political Science. People living in the middle of a recession are far more likely to report prejudiced thoughts, says public research university LSE after conducting a survey spanning 27 years... Dr Grace Lordan, the paper's co-author, said: "During a recession people who are normally in secure, well-paid jobs suddenly find their position under threat. Our study suggests that this increased insecurity may turn into an increase in prejudice towards 'others' who could be perceived as competitors.''

This article was published online by Information Daily.com on March 11, 2014
Link to article here

Related publications
'When Work Disappears: Racial Prejudice and Recession Labour Market Penalties', David W. Johnston and Grace Lordan Centre for Economic Performance Discussion Paper No.1257, February 2014

Related links
Grace Lordan webpage
Wellbeing Programme webpage

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

ABC de Sevilla

El Ministerio alemán de Economía revela su papel durante el nazismo

El estudio, coordinado por el profesor Albrecht Ritschl, de la London School of Economics entró en su fase pública con ese acto, al que seguirán una serie de sesiones en la sede del Ministerio hasta que en junio se presenten las ponencias en forma de libro.
The study, coordinated by Professor Albrecht Ritschi of the London School of Economics, entered its public phase with that act, to be followed by a series of meetings at the Ministry's headquarters until the papers are presented in book form in June

This article appeared in ABC de Sevilla on 11 March 2014 link to article

Related Links
Albrecht Ritschl webpage
Macro Programme webpage

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

Blackmore Vale Magazine

Anti-wind turbine campaigner calls meeting at Winterborne Whitechurch

in property values, which have been estimated in a study by the London School of Economics as an average of 11 per cent for homes within 1.2 miles of a giant turbine.

This article appeared in Blackmore Vale Magazine on 11 March 2014 link to article

Related Links
Draft report link
Steve Gibbons webpage

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

Reuters

Why regulation - on yogurt and more - is blocking Greece's recovery

In its report the OECD made 329 recommendations for rules that should be changed to open up competition and give a much-needed boost to the economy of Greece. John Van Reenan, director of the London School of Economics' Centre for Economic Performance, says this sort of overregulation holds back innovation and economic growth and explains, in part, the gap in material wealth between Europe and the United States. ''It's a very big issue,'' he says. ''It takes a lot longer for European business to grow and achieve scale.''

This article was published online by Reuters on March 11, 2014
Link to article here

Related links
John Van Reenen webpage
Productivity and Innovation Programme webpage

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

Materia

Los dilemas de España y propuestas casi imposibles: un gobierno de microbios?

The dilemmas of Spain and proposals almost impossible: an Government of microbes? Parte del título de este artículo está tomado en préstamo de un reciente libro del profesor Luis Garicano, que desafortunadamente no he leído aún, pero sobre el que versa el artículo de Antonio Roldán publicado el sábado 8 de marzo de 2014 en la sección de Opinión de El País bajo el atrayente y provocador título...
Part of the title of this article is taken on loan from a recent book by Professor Luis Garicano, unfortunately I have not read yet, but that is the article by Antonio Roldán posted on Saturday, March 8, 2014 in the section of Opinion in the country under the alluring and provocative title...

This article was published by Materia on March 10, 2014
Link to article here

Related publications
El Dilema De Espana (Spain's Dilemma), Luis Garicano, Published by Grup 62, January 2014
Details and purchase information.

Related links
Luis Garicano webpage
Productivity and Innovation Programme webpage

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

UK Wired News

The case for making Hebden Bridge the UK's second city

Britain has a great world city but lacks a great national one. As the eminent economic geographer from the London School of Economics, Henry Overman, puts it: ''These kind of arguments imply that the problem with Britain's urban system is not that London is too big. Instead, if anything, it's that our cities are too small.''

This article was published online by UK Wired News on March 10, 2014
Link to article here

Related publications
The economic future of British cities, Henry Overman. Article in CentrePiece Volume 18, Issue 1, Summer 2013

Related links
Henry Overman webpage
Spatial Economics Research Centre (SERC) website

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

Brunei News

Bank of England's Carney faces grilling over foreign exchange scandal

John van Reenen, director of the Centre for Economic Performance at the London School of Economics said a natural extension of Carney's push to improve transparency at the Bank would be to be to bring more clarity to its internal supervision.

This artilce appeared in Brunei News on 10 March 2014 link to article

Related Links
John Van Reenen webpage
Productivity and Innovation webpage

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

BBC News Online

The case for making Hebden Bridge the UK's second city by Evan Davis

As the eminent economic geographer from the London School of Economics, Henry Overman, puts it: "These kind of arguments imply that the problem with Britain's urban system is not that London is too big. Instead, if anything, it's that our cities are too small."

This article appeared on BBC News Online on 10 March 2014 link to article

Related Publications
The economic future of British cities Henry Overman, June 2013, Paper No' CEPCP389 in CentrePiece Volume 18, issue 1

Related Links
Henry Overman webpage
SERC webpage webpage

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

Reuters

Bank of England's Carney faces grilling over foreign exchange scandal

John van Reenen, director of the Centre for Economic Performance at the London School of Economics, said a natural extension of Carney's push to improve transparency at the Bank would be to bring more clarity to its internal supervision.

This article appeared on Reuters on 9 March 2014 link to article

Related Links
John Van Reenen webpage
Productivity and Innovation webpage

Also in:
MSN Money link
Business RSS News link

News Posted: 09/03/2014      [Back to the Top]

Guardian

Mark Carney to face grilling by parliament on plans to modernise Bank

The Bank governor, Mark Carney, will give evidence to the Treasury select committee amid escalating foreign exchange scandal. Professor John Van Reenen, Director of the Centre for Economic Performance said he hoped Carney would push to improve transparency and internal supervision. ''He's not as respectful of venerable British institutions as many people are, and from time to time you want to take a cold, hard look at whether the existing set of institutions really is fit for purpose in a modern age,'' said Van Reenen. ''He seems to be a person who is prepared to make those kind of changes.''

This article was published in the Guardian on March 9, 2014
Link to article here

Related links
John Van Reenen webpage
Productivity and Innovation Programme webpage

News Posted: 09/03/2014      [Back to the Top]

The Economist

Cyprus one year on: Injured island

As long as the country’s main lender remains stricken, it is hard to see how Cyprus can stage a sustainable recovery, says Sir Christopher Pissarides, a Nobel-prize-winning economist who heads the country’s economic council. Even though the economy has been hurt a bit less than expected, it remains in intensive care.

This article appeared in the Economist on 8 March 2014 link to article

Related Links
Christopher Pissarides webpage
Macro Programme webpage

News Posted: 08/03/2014      [Back to the Top]

Huffington Post Canada

Gross Global Happiness Has No Limit

The UN's World Happiness Report, edited by Canadian, British and American economists John Helliwell, Richard Layard and Jeffrey Sachs, makes the economics case for promoting happiness, namely that "happy people live longer, are more productive, earn more, and are also better citizens." They recommend policy goals such as addressing mental health issues, targeting high employment and good jobs, fostering communities with high levels of social trust, and supporting citizens' family life.

This article appeared in the Huffington Post Canada on 7 March 2014 link to article

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

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

Guardian

Universities benefit from recessions by recruiting more talented researchers

Article by Michael Boehm and Martin Watzinger

Between the end of 2007 and the middle of 2009, Britain and the US experienced the worst recession for more than half a century. Evidence suggests that during that time entry into high-paying and high-risk private sector jobs declined substantially while many talented graduates tried to stay on at university. But did this have an effect on academia itself? Graduates starting their career in a recession have lower wages, higher unemployment rates and worse career progression. This is even true more than a decade after the recession has ended.

This article was published by the Guardian on March 7, 2014
Link to article here

Related publications
'The Allocation of Talent over the Business Cycle and its Effect on Sectoral Productivity', Michael Boehm and Martin Watzinger, Centre for Economic Performance Discussion Paper No.1143, May 2012

Related links
Michael Boehm webpage
Labour Markets webpage

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

La Repubblica

Emerging world poses more danger than in 1990s: Cutting research

Breakthroughs in information and technology have increased demand and pay for highly skilled and university-educated workers, outpacing the need for employees with middle-range skills, according to the London School of Economics. Technical change accounted for 15 percent to 25 percent of the growth in the aggregate wage bill of highly skilled workers, the study by Guy Michaels, Ashwini Natraj and John Van Reenen found. The results were based on employment and wages in 11 countries during the past 25 years. The pay of low-skilled workers was less influenced by developments in technology, it said.

This article was published by La Repubblica on March 7, 2014
Link to article here

Related publications
Has ICT Polarized Skill Demand? Evidence from Eleven Countries over Twenty-Five Years, Guy Michaels, Ashwini Natraj and John Van Reenen. Article in The Review of Economics and Statistics Volume 96, Issue 1, March 2014
The shrinking middle, Guy Michaels, Ashwini Natraj and John Van Reenen. Article in CentrePiece Volume 15, Issue 2, Autumn 2010
'Has ICT Polarized Skill Demand? Evidence from Eleven Countries over 25 Years', Guy Michaels, Ashwini Natraj and John Van Reenen, Centre for Economic Performance Discussion Paper No.987, June 2010

Related links
Guy Michaels webpage
John Van Reenen webpage
Productivity and Innovation Programme webpage

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

Bloomberg

Emerging world poses more danger than in 1990s: cutting research

Breakthroughs in information and technology have increased demand and pay for highly skilled and university-educated workers, outpacing the need for employees with middle-range skills, according to the London School of Economics. Technical change accounted for 15 percent to 25 percent of the growth in the aggregate wage bill of highly skilled workers, the study by Guy Michaels, Ashwini Natraj and John Van Reenen found. The results were based on employment and wages in 11 countries during the past 25 years. The pay of low-skilled workers was less influenced by developments in technology, it said.

This article was published by Bloomberg news on March 7, 2014
Link to article here

Also in
Bloomberg BusinessWeek
Emerging world poses more danger than in 1990s: Cutting research

Related publications
Has ICT Polarized Skill Demand? Evidence from Eleven Countries over Twenty-Five Years, Guy Michaels, Ashwini Natraj and John Van Reenen. Article in The Review of Economics and Statistics Volume 96, Issue 1, March 2014
The shrinking middle, Guy Michaels, Ashwini Natraj and John Van Reenen. Article in CentrePiece Volume 15, Issue 2, Autumn 2010
'Has ICT Polarized Skill Demand? Evidence from Eleven Countries over 25 Years', Guy Michaels, Ashwini Natraj and John Van Reenen, Centre for Economic Performance Discussion Paper No.987, June 2010

Related links
Guy Michaels webpage
John Van Reenen webpage
Productivity and Innovation Programme webpage

News Posted: 07/03/2014      [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]

The Wall Street Journal (online)

Donald Boudreaux and Liya Palagashvili: The Myth of the Great Wages 'Decoupling'

And in a study last year, João Paulo Pessoa and John Van Reenen of the London School of Economics compared worker compensation and productivity in both the United States and the United Kingdom from 1972-2010. There was no decoupling in either country.

This article was published online by the Wall Street Journal on March 6, 2014
Link to article here

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

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

News Posted: 06/03/2014      [Back to the Top]

The Financial

New research shows how technology squeezes middle-skilled workers

The rise of information and communication technologies has increased the demand for highly-skilled, university-educated, workers at the expense of middle-skilled workers according to new research from the Centre for Economic Performance at LSE (London School of Economics and Political Science).

This article was published by The Financial on March 6, 2014
Link to article here

Also in
BizWire
New research shows how technology squeezes middle skilled workers
Pressat
New research shows how technology squeezes middle skilled workers


Related publications
Has ICT Polarized Skill Demand? Evidence from Eleven Countries over Twenty-Five Years, Guy Michaels, Ashwini Natraj and John Van Reenen. Article in The Review of Economics and Statistics Volume 96, Issue 1, March 2014
The shrinking middle, Guy Michaels, Ashwini Natraj and John Van Reenen. Article in CentrePiece Volume 15, Issue 2, Autumn 2010
'Has ICT Polarized Skill Demand? Evidence from Eleven Countries over 25 Years', Guy Michaels, Ashwini Natraj and John Van Reenen, Centre for Economic Performance Discussion Paper No.987, June 2010

Related links
Guy Michaels webpage
John Van Reenen webpage
Productivity and Innovation Programme webpage

News Posted: 06/03/2014      [Back to the Top]

LSE British Politics and Policy blog

Towns and cities can be trapped in wrong locations

When thinking about policy responses, it is worth looking at the past to see how historical events can leave cities trapped in locations that are far from ideal. We have done that in a study that compares the evolution of two initially similar urban networks following a historical calamity that wiped out one, while leaving the other largely intact.

This LSE British Politics and Policy blog was posted online on March 6, 2014
Link to blog article here

Related publications
Can cities be trapped in bad locations?, Guy Michaels and Ferdinand Rauch. Artice in CentrePiece Volume 18, Issue 3, Winter 2013/14
'Resetting the Urban Network 117-2012', Guy Michaels and Ferdinand Rauch, Centre for Economic Performance Discussion Paper No.1248, November 2013
Can history leave towns struck in places with bad locational fundamentals?, Guy Michaels and Ferdinand Rauch, Vox, 08/12/2013

Related links
Guy Michaels webpage
Ferdinand Rauch webpage
Labour Markets Programme webpage

News Posted: 06/03/2014      [Back to the Top]

Left Foot Forward

Chuka Umunna speech: more important than you think

At the time, the speech served its purpose as a signal of Labour's commitment to the reform of the long-term problems of the UK economy, and Labour's dominance of the Treasury kept the mandarins in check and resulted, according to Dan Corry and John Van Reenen, in the UK having the second highest productivity growth between 1997-2010.

This article was published online by Left Foot Forward on March 5, 2014
Link to article here

Related Publications
'UK Economic Performance Since 1997: Growth, Productivity and Jobs, Dan Corry', Anna Valero and John Van Reenen, Centre for Economic Performance Special Paper No.24, December 2011
UK Economic Performance Since 1997: Growth, Productivity and Jobs by Dan Corry, Anna Valero and John Van Reenen - Report published by the Centre for Economic Performance in November 2011

Related Links
Anna Valero webpage
John Van Reenen webpage
Productivity and Innovation webpage

News Posted: 05/03/2014      [Back to the Top]

Radio Times

Evan Davis: We love big cities because we long to be near other people

Henry Overman is a professor of economic geography at the London School of Economics. He argues that the UK is an unusual country, not so much in the large size of its capital, but in the small size of its second-tier cities.

This article appeared in the Radio Times on 3 March 2014 link to article

Related Publications
The economic future of British cities Henry Overman, June 2013, Paper No' CEPCP389 in CentrePiece Volume 18, issue 1

Related Links
Henry Overman webpage
SERC webpage

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

SERC: Spatial Economics Research Centre blog

Mind the gap

Henry Overman writes:
On the Today programme this morning talking cities with Ed Cox (IPPR North) and Evan Davis - whose two part series Mind the Gap London vs the Rest is playing on BBC 2.
The starting point - on which we all agreed - is that the geographic concentration of economic activity in London and the South East offers fantastic opportunities in terms of both work and play (as a result of 'agglomeration economies' arising from the benefits of physical proximity). The points of disagreement relate to the extent to which this is sustainable and whether it would be possible to generate similar opportunities elsewhere.

The SERC blog was published online on March 3, 2014
Link to blog page here

Related publications
The economic future of British cities, Henry Overman. Article in CentrePiece Volume 18, Issue 1, Summer 2013

Related links
Henry Overman webpage
SERC website

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

Levante El Mercantil Valenciano - Levante

El día después de la tarjeta roja

...muy leído, El dilema de España (Ed. Península, 2014), de Luis Garicano (London School of Economics): Desde el extranjero muchos no éramos conscientes de que Valencia funcionaba como una auténtica ...
widely read, The Dilemma of Spain (Ed. Peninsula, 2014), Luis Garicano (London School of Economics): ''From abroad many were not aware that Valencia worked as a real ...''

This article was published by Levante El Mercantil Valenciano - Levante on March 3, 2014
Link to article here

Related publications
El Dilema De Espana (Spain's Dilemma), Luis Garicano, Published by Grup 62, January 2014
Details

Related links
Luis Garicano webpage
Productivity and Innovation Programme webpage

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

BBC Radio 4

Today programme

8:35am Henry Overman, professor of economic geography at the London School of Economics, and Ed Cox, director of the Institute for Public Policy Research North, debate why London is such a powerful force in the UK.

The debate was aired on BBC Radio 4's Today Programme on March 3, 2014
Link to programme here

Related links
Henry Overman webpage
Spatial Economics Research Centre website
Globalisation Programme webpage

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

Al Jazeera London

Fears of erosion of the middle class in Britain

Professor Alan Manning of the Centre for Economic Performance was interviewed for a news piece on the topic of the demise of the middle class in Britain.

The news item was broadcast by Al Jazeera London on March 3, 2014
Link to recording here

Related publications
Lovely and lousy jobs, Alan Manning. Article in CentrePiece Volume 18, Issue 2, 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 2003
This paper has also been published as: Review of Economics and Statistics 89(1): 118-33, February 2007

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

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

The Observer

What's wrong with selling visas to rich immigrants at £2.5m a pop?

Article by Will Hutton
I am with Sir David Metcalf, chair of the committee, who robustly dismissed all the carping, arguing that auctioning the visas was not demeaning, and infinitely better than doing what we do at present – in effect, giving them away.

This article was published by the Observer on March 2, 2014
Link to article here

Related Links
David Metcalf webpage
Labour Market webpage

News Posted: 02/03/2014      [Back to the Top]

Burbuja Economica - Hyeronimus

Se duplica el número de herencias que se queda el Estado

Luis Garicano proposes to abolish this tax, the professor at the London School of Economics has suggested ''removing the inheritance and gift tax to people who move to Spain. The cost of this would be trivial ...

This article was published by Burbuja Economica - Hyeronimus on March 1, 2014
Link to article in translation here

Related links
Luis Garicano webpage
Productivity and Innovation Programme webpage

News Posted: 01/03/2014      [Back to the Top]

Daily Mail

TOM UTLEY: Call me loopy but there's something mystical about a UK passport. Flogging them to oligarchs just feels tawdry

But as Sir David [Metcalf] says, they would surely be prepared to pay more for the opportunity to join the ranks of the Queen's subjects. Hence his proposal that not only should we double the £100million minimum investment required, which hasn't been raised since the scheme began 20 years ago. He suggests we should also test the market by auctioning off 100 or so visas, with a reserve price of perhaps £2.500million. Under his plan, the first £200million of the proceeds would have to be invested in gilts, infrastructure bonds or venture capital, while the surplus would go into a fund for good causes.

This article was published by the Daily Mail on February 28, 2014
Link to article here

Related Links
David Metcalf webpage
Labour Market webpage

News Posted: 28/02/2014      [Back to the Top]

The New York Times

What Ukraine needs for sustained prosperity

Article by Peter Boone and Simon Johnson for the NYTimes' Economix
This is an important and hopeful moment for Ukraine. While we are optimistic that it can be seized, with greater prosperity for millions of people, Ukraine has faced similar hopeful moments, and subsequent disappointment, several times in the last 20 years. This time will not be different unless Ukraine's new rulers make a definite break with the established ways of its economic and political elite.

This article was published by the New York Times Economix on February 27, 2014
Link to article here

Also in
News.Gnom.Es
What Ukraine Needs for Sustained Prosperity

Related links
Peter Boone webpage
Effective Intervention Programme webpage
Globalisation Programme webpage

News Posted: 27/02/2014      [Back to the Top]

City AM

Bid to be British: £2.5m starting price for UK visa

Chairman of the committee Sir David Metcalf said UK citizens currently get a poor deal from international investors, who gain much more by using the fast track investor scheme. "We express some healthy scepticism regarding the value to UK residents of high net worth individuals coming to the UK," he said. Metcalf added it was important for the UK to remain open to attracting wealthy international migrants.

This article appeared in City AM on 26 February 2014 link to article

Related Links
David Metcalf webpage
Labour Market webpage

News Posted: 26/02/2014      [Back to the Top]

guardian.co.uk

Should the government hold auctions for UK

David Metcalf head to head with Julian Norman, agree that the investor route to UK migration needs reform, but not on the idea of auctioning
David Metcalf: it's one part of a wider reform to benefit UK residents
... we believe that there are some straightforward reforms which would make it much more likely that UK residents gain. These include: raising the investment threshold, encouraging alternative investments, auctioning some slots, and altering the residency requirements.

This article was published by guardian.co.uk on February 26, 2014
Link to article here

See also
February 25, 2014
Sydney Morning Herald
UK should auction off visas - with a reserve of $4.6m, says advisory panel
''We have focused our attention on how UK residents may gain from this migration route; we express some healthy scepticism regarding the value to UK residents of high net-worth individuals coming to the UK'', the panels chairman, David Metcalf, said. ''When people say: 'Isn't it awful to sell visas? it's better than giving them away, which is what we are doing now.''
RT.com
'Going once, going twice, sold': UK seeks to auction visas to wealthy bidders
In a bid to combat this rising trend, the new system is being proposed, and it has its advocates, including the chairman of the Migration Advisory Committee, Sir David Metcalf. He sees little alternative for making investor visas beneficial to the UK than for it to start ''auctioning some of those slots ... There should be a proper discussion about it. Equally it may well be that we should be letting people in if they endow a Cambridge college, a major teaching hospital or the London School of Economics with £10 million,'' he told the House of Commons Home Affairs Select Committee.

Related Links
David Metcalf webpage
Labour Market webpage

News Posted: 26/02/2014      [Back to the Top]

Daily Telegraph

Hundreds of visas 'given away' to foreign millionaires in scheme

Prof Metcalf said: "The present system, it seems, is designed to minimise the gains to UK residents and maximise the gains to the migrants. Indeed, we pay them for making the application. They get interest on their loan, the gilts."

This article appeared in the Daily Telegraph on 26 February 2014 link to article

Related Links
David Metcalf webpage
Labour Market webpage

News Posted: 26/02/2014      [Back to the Top]

Guardian

University education: at £9,000 per year, parents begin to question its value

Parents are struggling to reconcile conflicting views about the value of higher education for their children: more than half believe that fees of up to £9,000 a year represent poor value for money, yet a majority still regard a traditional university education as the best route to a chosen career, according to a YouGov poll. Dr Gill Wyness, of the Centre for Economic Performance at the London School of Economics, said the YouGov poll highlighted ''a lot of scepticism for forgivable reasons from parents'', but also pointed to the ''surprising'' level of support for university study for its own sake and not merely as a step to a career. She said: ''There are a lot of near contradictions, where people are saying they can't afford for their children to go to university and yet they are expecting them to go. It's a puzzling time for people.''

This article was published by the Guardian on February 26, 2014
Link to article here

Related links
Gill Wyness webpage
Gill Wyness CEP publications webpage
Education and Skills Programme webpage
The Economics of Higher Education website

News Posted: 26/02/2014      [Back to the Top]

The Independent

Plan to sell British visas to the highest bidders ‘sends out the wrong message'



News Posted: 24/02/2014      [Back to the Top]

BBC2

Horizon TV: How you make decisions

Professor Paul Dolan featured in Episode 9 of the BBC2 programme - Horizon. The episode was looking at how people really make decisions.
Every day you make thousands of decisions, big and small, and behind all them is a powerful battle in your mind, pitting intuition against logic. This conflict affects every aspect of your life - from what you eat to what you believe, and especially to how you spend your money. And it turns out that the intuitive part of your mind is a lot more powerful than you may realise.

The BBC2 Horizon episode was broadcast on February 24, 2014
Link to BBC iplayer here

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

News Posted: 24/02/2014      [Back to the Top]

University World News

Universities stand to benefit in recessions - study

Universities across the world actually benefit during recessions, wielding far greater recruiting power to attract talented graduates compared with the private sector, shows new research from the London School of Economics and Political Science, reports http://Finchannel.com. Economist Dr Michael Boehm from LSEs Centre for Economic Performance and Bonn University, said not only do universities wield more recruiting power in a recession, but the young graduates they attract are highly talented and more productive over many years. ''Their productivity is substantially higher than in boom times, a fact attributed to the stiff competition for jobs and a need to prove themselves'', Boehm said.

This article was published online by University World News on February 22,2014
Link to article here

Related publications
'The Allocation of Talent over the Business Cycle and its Effect on Sectoral Productivity', Michael Boehm and Martin Watzinger, Centre for Economic Performance Discussion Paper No.1143, May 2012

Related links
Michael Boehm webpage
Labour Markets Programme webpage

News Posted: 22/02/2014      [Back to the Top]

Financial Times

Critically, research left out pensions

Letter to the Financial Times regarding article on the ''fractured middle'' printed in the FT on February 15, 2014.
Sir,...fascinating reading but Profs Brian Bell and Stephen Machin have ignored a critical element. When assessing how well off different professions are, it is not only salary that counts - benefits, and especially pensions, must also be taken into account.

This letter was published in the Financial Times on February 22, 2014
Link to article here

Related links
See earlier FT article 'The fractured middle: UK salary split sees ubers pull ahead', here
Brian Bell webpage
Stephen Machin webpage
Labour Markets Programme webpage

News Posted: 22/02/2014      [Back to the Top]

BBC Radio Humbershide

BBC News

A report from the Wellbeing Programme, Centre for Economic Performance, published several years ago, is referenced in a discussion about public spending on mental health care.

From an item broadcast on BBC Radio Humberside (BBC News) on February 20/2014
No link available.

Related publications
How Mental Illness Loses Out in the NHS. A Report by the Centre for Economic Performance Mental Health Policy Group. Published June 2012.
The Depression Report. A New Deal for Depression and Anxiety Disorders. A Report by the Centre for Economic Performance Mental Health Policy Group. Published June 2006.

Related links
Richard Layard webpage
Wellbeing Programme webpage
Mental Health Policy Group webpage

News Posted: 20/02/2014      [Back to the Top]

The Economic Voice

Favoured management strategy of UK businesses ‘fatally flawed'

A top crop of UK managers voted for the best article, as the must-read piece of research to come out of British business schools over the last year. An article by Professors Nicholas Bloom, Raffaella Sadun and John Van Reenen - all of the Centre for Economic Performance - had their research, asking whether management really works, shortlisted.

Articles were submitted to the competition by academics which were then reviewed and rated online by CMI members. Those with the highest ratings were then assessed by CMI's Academic Advisory Council, a committee of leading UK academics, who selected the following as the top five. 'Does Management Really Work? How three essential practices can address even the most complex global problems' by Professor Nicholas Bloom, Professor of Economics at Stanford University, Professor Raffaella Sadun, Assistant Professor at Harvard Business School, Professor John Van Reenen, Director of the Centre for Economic Performance at the London School of Economics and Political Science.

This article was published by The Economic Voice on February 19, 2014
Link to article here

Related publications
'Does Management Really Work? How Three Essential Practices Can Address Even the Most Complex Global Problems', Nicholas Bloom, Raffaela Sadun and John Van reenen. Article in Winning Ideas. The Management Articles of the Year. CMI - Chartered Management Institute, February 2014.

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

News Posted: 19/02/2014      [Back to the Top]

LSE News

LSE professor shortlisted for Chartered Management Institute Articles of the Year award

An article co-written by Professor John Van Reenen, Director of the Centre for Economic Performance at LSE, has been shortlisted for the Chartered Management Institute's (CMI) Management Articles of the Year awards. Professor Van Reenen's article 'Does Management Really Work? How Three Essential Practices Can Address Even the Most Complex Global Problems', co-written with Professor Nicholas Bloom, Stanford University, and Professor Raffaella Sadun, Harvard Business School, was one of five articles shortlisted for the award.

This article was posted on the LSE News and Media website on February 20, 2014
Link to article here

Related publications
'Does Management Really Work? How Three Essential Practices Can Address Even the Most Complex Global Problems', Nicholas Bloom, Raffaela Sadun and John Van reenen. Article in Winning Ideas. The Management Articles of the Year. CMI - Chartered Management Institute, February 2014.

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

News Posted: 19/02/2014      [Back to the Top]

World Crunch

How France still pays for bad city planning in the Middle Ages

''Only three of the 20 largest cities in Britain are located near the site of Roman towns, compared to 16 in France'', economists Guy Michaels and Ferdinand Rauch found in their academic research, which is summarized on voxeu.org.

This article was published online by World Crunch on February 18, 2014
Link to article here

Related publications
Can cities be trapped in bad locations?, Guy Michaels and Ferdinand Rauch. Artice in CentrePiece Volume 18, Issue 3, Winter 2013/14
'Resetting the Urban Network: 117-2012', Guy Michaels and Ferdinand Rauch, Centre for Economic Performance Discussion Paper No.1248, November 2013
Can history leave towns struck in places with bad locational fundamentals?', Guy Michaels and Ferdinand Rauch, Vox, 08/12/2013

Related links
Guy Michaels webpage
Ferdinand Rauch webpage
Labour Markets Programme webpage

News Posted: 18/02/2014      [Back to the Top]

The Daily Mail

The Splintering of the Middle Classes

Meanwhile, a large, highly-qualified group of workers are merely 'clinging on' to their middle class status as their economic position becomes increasingly precarious. Even during the boom years, their salaries shrank in relative terms, according to the research by leading labour market economists Brian Bell and Stephen Machin. Their plight contrasts sharply with the heady days of 1975, more than a decade before the deregulation of the City.

This article was published in The Daily Mail on February 18, 2014
Link to article here

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

News Posted: 18/02/2014      [Back to the Top]

The Daily Telegraph

Why high-achievers are no longer marrying beneath them

According to a study of 40 years of salary data by labour market economists Brian Bell and Stephen Machin, published in the Financial Times, members of this elite tend to boast pay packets of £69,000-plus and be based in the capital. With those in the most lavishly remunerated jobs pairing off, the gap between rich and poor - and even rich and middle - grows ever more.

This article was published in The Daily Telegraph on February 18, 2014
Link to article here

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

News Posted: 18/02/2014      [Back to the Top]

The Times

Super-rich professions squeeze out traditional middle class

An analysis of wages stretching back 40 years reveals that many jobs that were considered highly lucrative in the 1970s have been eclipsed by salaries for bankers, doctors and lawyers. Referred to as an ''uber middle class'', the winners in the white-collar wages race have helped to drive London property prices higher and contributed to above-inflation fee rises at top independent schools. Others, labelled ''cling-ons'', have been left scrambling to match their parents' lifestyles. One of the study's authors, Brian Bell said: ''In some aspects, the job that in 1975 you thought of as a good, solid, middle-class job, still fulfils that description. But it's become increasingly unlikely, in some of these professions, that you'll get into the top 10 per cent earnings group.''

This article was published in The Times on February 18, 2014
Link to article here

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

News Posted: 18/02/2014      [Back to the Top]

Tribuna Libre

Vidas paralelas de dos ‘apparatchik'

Blog by Luis Garicano and Jesus Fernandez-Villaverde

Con la designacion de Juan Manuel Moreno como candidato popular a la Presidencia de la Junta de Andalucia, los dos partidos mayoritarios en esta comunidad autonoma han renovado su liderazgo. Mas alla de su juventud (Susana Diaz, 39 anos, Juan Manuel Moreno, 43), ambos politicos comparten una caracteristica mas importante: toda su vida ha girado en torno a la politica y su carrera profesional fuera de ella es inexistente.

With the appointment of Juan Manuel Moreno as a popular candidate for the Presidency of the Junta de Andalucía, the two major parties in this autonomous community have renewed their leadership. Beyond its youth (Susana Diaz, 39 years old, Juan Manuel Moreno, 43), both politicians share a major characteristic: her life has revolved around politics and his professional career outside of it is non-existent.

This article was published online in Tribuna Libre on February 17, 2014
Link to article here

Related links
Luis Garicano webpage
Productivity and Innovation Programme webpage

News Posted: 17/02/2014      [Back to the Top]

This is Money

Is it now impossible to keep up with the Joneses? Professionals once at the heart of the middle class squeezed out of the pay race by the City salary boom

Professor Bell told the newspaper: 'Forty years ago there were very well-paid people around the country in manufacturing and they have all vanished. If you want to earn £1million it is difficult not to live in London.'

This article was published online in This is Money on February 17, 2014
Link to article here

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

News Posted: 17/02/2014      [Back to the Top]

Mail online

Why bosses have stopped marrying their secretaries: Increasing numbers of high-flyers are choosing their academic equal for their partner

Economics professor Stephen Machin, of University College London, said: 'It suggests a polarisation of skills in households. It's been a driving factor behind inequality and most people would say that's not good.''

This article was published in the Mail online on February 17, 2014
Link to article here

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

News Posted: 17/02/2014      [Back to the Top]

The Sunday Times

It's over, Cinders, no prince is coming

Stephen Machin, professor of economics at University College London, is nearing the completion of a similar study using British and American data. His work will conclude that inequality is being caused by those of similar education levels marrying in a ''remarkably similar manner'' on both sides of the Atlantic. ''There are many more graduates around, so there are many more to match together'', he said. ''It suggests a polarisation of skills in households. It's been a driving factor behind inequality and most people would say that's not good.''

This article was published in The Sunday Times on February 16, 2014
Link to article here

See also
February 17, 2014
The Australian
Sorry, Cinders: a prince marries his own kind
Stephen Machin, professor of economics at University College London, is nearing the completion of a similar study using British and US data. His work will conclude that inequality is being caused by those of similar education levels marrying in a ''remarkably similar manner'' on both sides of the Atlantic.
Link to article here

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

News Posted: 16/02/2014      [Back to the Top]

Financial Times

The fractured middle: UK salary split sees ubers pull ahead

In this tale of two middle classes, doctors and London finance workers emerge as the big winners. But this ''uber-middle'' is dwarfed by a much larger group of ''cling-ons'' who have seen their relative position dramatically worsen, even during the years of economic boom. The data, prepared for the FT by two of the nation's foremost labour market economists, Professors Brian Bell and Stephen Machin, shine a light on Britain's changing economy and the shifting fortunes of the professional middle class.

This article was published in the Financial Times on February 15, 2014
Link to article here

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

News Posted: 15/02/2014      [Back to the Top]

New Republic.com

The Silicon Valley labor scandals prove minimum wage hikes don't cost jobs

The labor economist Alan Manning, in his book Monopsony in Motion (first chapter), argues that these two elements together means that employers have a small amount of market power over each job out there. This power is like a monopoly power, but the power doesn't come from the size or concentration of the firm but instead from the difficulties of the search.

This article was published online by New Republic.com on February 14, 2014
Link to article here

Related Publications
'The Real Thin Theory: Monopsony in Modern Labour Markets', Alan Manning, Centre for Economic Performance Discussion Paper No.564, May 2003
Monopsony in Motion: Imperfect Competition in Labor Markets, Alan Manning. Published by Princeton University Press, 2005. Details

Related Links
Alan Manning webpage
Labour Markets webpage

News Posted: 14/02/2014      [Back to the Top]

FT.com

The fractured middle: Gulfs grow within, and between, professions

But the near-parity that once existed in Britain's middle class has evaporated over the past 40 years, a Financial Times study shows. Data prepared by economists, Brian Bell and Stephen Machin, demonstrate the sharply diverging fortunes of a once more uniform group.

This article was published online by FT.com on February 14, 2014
Link to article here

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

News Posted: 14/02/2014      [Back to the Top]

Yahoo!Xtra

Founders make bad CEOs: study

Athens University of Economics and Business, and John Van Reenen of the London School of Economics . "A mature firm needs to move beyond informal rules, and these may be implemented more effectively...

This article appeared on Yahoo Xtra on 14 February 2014 link to article

Related Publications
Management Practices Across Firms and Countries, Nicholas Bloom, Christos Genakos, Raffaella Sadun, John Van Reenen, December 2011, Paper No' CEPDP1109

Related Links
Nicholas Bloom webpage
Christos Genakos webpage
Raffaella Sadun webpage
John Van Reenen webpage webpage
Productivity and Innovation webpage

News Posted: 14/02/2014      [Back to the Top]

The Wall Street Journal (Europe)

Bankia Chief Making Measurable Progress

"He came in with a really strong reputation," said Luis Garicano, a professor of economics and strategy at the London School of Economics. "People were very surprised when he took the job. It looked like a job that could indeed destroy his reputation at the time."

This article appeared in The Wall Street Journal on 14 February 2014 link to article

Related Links
Luis Garicano webpage
Productivity and Innovation webpage

News Posted: 14/02/2014      [Back to the Top]

The Daily Telegraph

Have Sweden's permissive parents given birth to a generation of monsters?

They famously don't begin formal education until they are six or seven, something that is oft-cited by educationalists as preferable to our system, under which all children in England must be in full-time education by their fifth birthday. In a letter to The Daily Telegraph last September, a group of leading UK educationalists, including Lord Layard, director of the Wellbeing Programme at the London School of Economics and David Whitebread, senior lecturer in psychology of education at Cambridge University, claimed the Scandinavian model ought to be emulated.

This article appeared in the Daily Telegraph on 14 February 2014 link to article

Related links
Link to original letter published in the Daily Telegraph here
Richard Layard webpage
Wellbeing Programme webpage

News Posted: 14/02/2014      [Back to the Top]

Finchannel.com

Universities stand to benefit in recessions, new research shows

The FINANCIAL - Universities across the world actually benefit during recessions, wielding far greater recruiting power to attract talented graduates compared to the private sector, shows new research from the London School of Economics and Political Science (LSE). In tough financial times the stability of the academic world wins out over the boom-and-bust cycle of the private sector, according to the latest evidence. Economist Dr Michael Boehm from LSE's Centre for Economic Performance and Bonn University, said not only do universities wield more recruiting power in a recession, but the young graduates they attract are highly talented and more productive over many years.

This article was published online by Finchannel on February 13, 2014
Link to article here

Related publications
'The Allocation of Talent over the Business Cycle and its Effect on Sectoral Productivity', Michael Boehm and Martin Watzinger, Centre for Economic Performance Discussion Paper No.1143, May 2012

Related links
Michael Boehm webpage
Labour Markets Programme webpage

News Posted: 13/02/2014      [Back to the Top]

Tax-News.com

Welsh Tories pledge stamp duty cut

The Conservative Party in Wales has pledged to scrap Stamp Duty on residential property purchases of up to GBP250,000 should it win the next National Assembly election in 2016, as part of a plan to ''make Wales a nation of home owners and a place of low tax''. Davies and Shadow Finance Minister Paul Davies also cited a report from last year by Henrik Kleven and Michael Best of the London School of Economics which suggests that when stamp duty is reduced by 1 percent, sales can increase by 20 percent within a short period.

This article was published online by Tax-News on February 13, 2014
Link to article here

Related links
Henrik Kleven webpage
Labour Markets Programme webpage

News Posted: 13/02/2014      [Back to the Top]

Ootvenentul.hu

A lottonyertesek a jobboldalra partolnak

Lottonyeremeny hatasara az emberek hajlamosak atpartolni a jellemzoen alacsonyabb adoratakat alkalmazo jobboldali, konzervativ politikai oldalhoz, es tobbnyire kevesbe egalitariussa valnak - allapitotta meg egy brit-ausztral tanulmany.
A Nattavudh Powdthavee (Melbourne-i Egyetem es London School of Economics), valamint Andrew Oswald (Warwicki Egyetem) professzorok altal vegzett kutatasban tobb ezer brit lottonyertes politikai preferenciajanak hosszu tavu valtozasat vizsgaltak. Az orszagosan reprezentativ mintaba bevont egyenek legfeljebb 200 ezer fontot (74 millio forint) nyertek a lotton, tehat a fonyeremenyt megutoket nem vizsgaltak - derul ki a Melbourne-i Egyetem honlapjan kozzetett kozlemenybol.
As a result of winning [the lottery] people tend to become lower-right-wing - on the conservative political side, and generally become less egalitarian, a British-Australian study says.
Research conducted by professors Nattavudh Powdthavee and Andrew Oswald on thousands of British lottery winner found changes in long-term political preference. The nationally representative sample of individuals involved were winners of up to 200 thousand pounds (74 million dollar) on the lottery.

This article was published online by Ootvenentul.hu (Hungary) on FEbruary 13,2014
Link to article here

Related links
Nattavudh Powdthavee webpage
Wellbeing Programme webpage

News Posted: 13/02/2014      [Back to the Top]

Finance

Here's proof that most founders make bad CEOs

People who found companies may not be cut out to run them. That's the finding of a comprehensive study of management practices in nearly 10,000 firms around the world, primarily in manufacturing. Firms that are both owned and run by their founders have, on average, worse management practices than any other management structure. That includes companies led by dispersed shareholders, private individuals, and even the government.

This article was published online by Finance on February 13, 2014
Link to article here

Related Publications
'Management Practices Across Firms and Countries', Nicholas Bloom, Christos Genakos, Raffaella Sadun, John Van Reenen, Centre for Economic Performance Discussion Paper No.1109, December 2011

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

News Posted: 13/02/2014      [Back to the Top]

Reuters UK - blog

What we know about income inequality: America's disappearing ‘middle-skill' jobs and falling wages

America is losing middle class jobs - and middle class pay. Not only are ''middle-skill'' jobs disappearing as routine tasks become computerized (think everything people do in the television show ''The Office''), but that job loss has contributed to stagnating wages, according to a recent paper by Michael Boehm of the University of Bonn.

This article was published online by Reuters US on February 12, 2014
Link to article here

Related publications
Has job polarisation squeezed the American middle class?, Michael Boehm. Article in CentrePiece Volume 18, Issue 2, Autumn 2014
'Has job polarisation squeezed the middle class? Evidence from the Allocation of Talents', Michael Boehm, Centre for Economic Performance Discussion Paper No.1215, May 2013

Related links
Michael Boehm webpage
Labour Markets Programme webpage

News Posted: 12/02/2014      [Back to the Top]

Business Insider Australia

STUDY: The Bigger Your Lottery Win, The More Right Wing You Become

Prof. Nick Powdthavee from the University of Melbourne, currently based at the London School of Economics and Prof. Andrew Oswald from The University of Warwick surveyed 541 lottery winners...

This article appeared in Business Insider Australia on 12 February 2014 link to article

Related Links
Nick Powdthavee webpage
Wellbeing webpage webpage

News Posted: 12/02/2014      [Back to the Top]

Latest News Online

Study Confirms Money Turns Left-Wingers Into Stingy Right-Wingers

The richer people are, the more they tend to vote for right-wing politicians and oppose wealth-sharing policies like social welfare and tax hikes for the rich, according to a studyof thousands of U.K. lottery winners by Nattavudh Powdthavee of the London School of Economics and Andrew J. Oswald of the University of Warwick. "Money apparently makes people more right-wing," wrote the authors. The more money people win in the the lottery, the more right-wing they become, according to the study.

This article appeared in Latest News Online link to article

Related Links
Nick Powdthavee webpage
Wellbeing webpage

News Posted: 12/02/2014      [Back to the Top]

Capital Romania

Zona Bucuresti-Ilfov, mai prospera decat trei sferturi din regiunile UE

Trebuie spus ca statisticile privind PIB-ul pe cap de locuitor nu tin seama de un fenomen foarte raspandit in jurul marilor orase din Vest si destul de comun si in zona adiacenta Bucurestiului – navetismul. La produsul intern brut din Londra, Luxemburg, Praga sau Bucuresti-Ilfov contribuie zeci, daca nu sute de mii de persoane care lucreaza acolo, dar locuiesc in alte regiuni adiacente. Conform unui studiu realizat de Paul Chesire, de la London School of Economics, si Stefano Magrini, de la Universitatea din Venetia, ''PIB per capita este unul din indicatorii cu cele mai mari sanse de a fi distorsionat, avand in vedere ca PIB-ul este estimat la locul de munc, iar oamenii sunt numarati acolo unde locuiesc. Din cauza navetismului dincolo de limitele administrative, rezulta ca PIB per capita este sistematic supraestimat in marile orase care sunt si regiuni statistice''.

It must be said that the statistics on GDP per capita does not take into account a widespread phenomenon around major cities in the West and quite common and in the adjacent area of Bucharest-commuting within. The gross domestic product in London, Luxembourg, Prague or Bucharest-Ilfov contributes dozens if not hundreds of thousands of people who work there, but live in adjacent regions. According to a study by Paul Cheshire, from London School of Economics, and Stefano Magrini, of the University of Venice, ''per capita GDP is one of the indicators with the greatest chance of being distorted, given that GDP is estimated at work, and people are counted where they are staying. Because of the commuting process beyond administrative boundaries, shows that the per capita GDP is systematically overestimated in big cities which are statistical regions''.

The article was published by Capital Romania on February 11, 2014
Link to article here

Related publications
'Urban Growth Drivers in a Europe of Sticky People and Implicit Boundaries', Paul Cheshire and Stefano Magrini, Spatial Economics Research Centre Discussion Paper No.10, November 2008

Related links
Paul Cheshire webpage
SERC website

News Posted: 11/02/2014      [Back to the Top]

De Standaard online

Lottowinnaars stemmen rechtser

Een rechtse politieke partij die aan de macht komt, doet er verstandig aan de loterij niet af te schaffen. Want van winst bij de loterij gaan mensen flink rechtser stemmen en gaan ze zich een stuk minder egalitair opstellen, hebben Britse economen becijferd. 'We weten niet precies wat er omgaat in de hoofden van de mensen', zegt Nick Powdthavee van de London School of Economics, 'maar het ziet ernaar uit dat geld een rechts-conservatief gedachtegoed bevordert. Loterijwinnaars gaan nogal soepel om met de ethiek'.

A right-wing political party that comes to power, does not abolish the lottery. Because of profit at the lottery people go to having quite right-wing voices and they are a lot less egalitarian, British economists have quantified. 'We don't know exactly what is going on in the minds of the people', says Nick Powdthavee of the London School of Economics, 'but it seems that a lottery win promotes a money conservatism'.

This article appeared in the De Standaard Online on February 11, 2014
Link to article here

Related links
Nattavudh Powdthavee webpage
Wellbeing Programme webpage

News Posted: 11/02/2014      [Back to the Top]

BBC News

What's the point of school?

In 1947, Dr Martin Luther King gave a lecture entitled The Purpose of Education in which he told his audience that the goal of true education was, ''ntelligence plus character''. Now comes a report from the all-party parliamentary group (APPG) on social mobility making a similar argument - that along with history and maths, teaching 'character and resilience' should be an essential part of every school's ambition.

Last October, an LSE report, asking What Predicts a Successful Life, noted, ''The most powerful childhood predictor of adult life-satisfaction is the child's emotional health. Next comes the child's conduct. The least powerful predictor is the child's intellectual development''.


This article was published online by BBC News on February 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

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

News Posted: 11/02/2014      [Back to the Top]

Extra Online

Quem te viu, quem te vê: estudo revela tendência ao conservadorismo do novo rico

E concluem: o dinheiro, sim, muda as pessoas. Nattavudh Powdthavee, da London School of Economics e Andrew J. Oswald, do Departamento de Economia da Universidade de Warwick, no Reino...
They conclude: money, yes, changes people. Nattavudh Powdthavee of the London School of Economics and Andrew J. Oswald, Department of Economics, University of Warwick in the UK ...

This article appeared in Extra Online on 11 February 2014 link to article

Related Links
Nick Powdthavee webpage
Wellbeing webpage

News Posted: 11/02/2014      [Back to the Top]

SpitsNieuws

Gewonnen geld maakt rechtser

"Het ziet ernaar uit dat geld een rechts-conservatief gedachtegoed bevordert." Bij mannen is dit effect overigens sterker dan bij vrouwen.
“It seems that money promotes a right-wing conservative ideology.” In men, this effect is stronger than in women

This article appeared in SpitsNieuws on 11 February 2014 link to article

Related Links
Nick Powdthavee webpage
Wellbeing webpage

News Posted: 11/02/2014      [Back to the Top]

Edelman

Family business CEOs

I received a link to a story from my eldest child. The title of the story from January 27, 2014 is, 'Family CEOs Spend Less Time at Work'. Her comment, ''I guess that doesn't happen at Edelman.'' She is right on that score. The article by Carmen Nobel, a senior editor at HBSWK, summarizes research undertaken by Professor Raffaella Sadun of Harvard Business School, in cooperation with Professor Oriana Bandiera of London School of Economics and Professor Andrea Prat of Columbia University. In a study that began in India but ultimately included Brazil, France, Germany, the UK and U.S., the professors found that in 800 family manufacturing businesses, the family CEOs ''on average work fewer hours relative to non-family affiliated managers in all countries studied''. Specifically, founder CEOs spend 8 percent less time and next generation CEOs spend 6.6 percent percent less time than the professional CEOs at the office.

This article was published online in Edelman on February 10, 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: 10/02/2014      [Back to the Top]

The Conversation

Why the government shouldn't privatise the student loan book

The announcement that the government intends to sell off part of the student loan book is perhaps no surprise, but it is bad economics. Debt from student loans is currently a groaning £46.6 billion on the government's balance sheet. The government has already made very clear its intent to further privatise the UK's higher education system. The argument is simple. They want to convert an extended stream of income from student loan repayments - which are paid by graduates at a small proportion of their income each month, thus drip-feeding repayment to the government for up to 30 years into the future - into a one-time payment now. This would immediately lower the public debt number. It is a simple move of income in the future to income today. But the truth is that selling the student loans book in this fashion is bad for students, bad for taxpayers, and may even undermine the entire ethos of the higher education finance system.

This article was published by The Conversation on February 10, 2014
Link to article here

Related links
Gill Wyness webpage
Education and Skills Programme webpage

News Posted: 10/02/2014      [Back to the Top]

Vox

Job polarisation and the decline of middle-class workers' wages

Article by Michael Boehm
... routinisation has not only replaced middle-skill workers' jobs but also strongly decreased their relative wages. Policymakers who intend to counteract these developments may want to consider the supply side: if there are investments in education and training that help low and middle earners to catch up with high earners in terms of skills, this will also slow down or even reverse the increasing divergence of wages between those groups.

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

Related Publications
Has job polarisation squeezed the American middle class? Michael Boehm. Article in CentrePiece, Volume 18, Issue 2, Autumn 2013
'Has job polarisation squeezed the American middle class?', Michael Boehm, Centre for Economic Performance Discussion Paper No.1215, May 2013

Related Links
Michael Boehm webpage
Labour Markets webpage

News Posted: 08/02/2014      [Back to the Top]

Hindustan Times

Having more money makes you more conservative: study

Lottery winners tend to switch towards support for a right-wing political party and to become less egalitarian, according to new research by experts at the London School of Economics (LSE) and the University of Warwick. The study by Andrew Oswald of the University of Warwick and Nattavudh Powdthavee of the LSE suggests that the larger the win, the more people tilt to the right.

The article was published in the Hindustani Times on February 8, 2014
Link to article here

Also in
UPI.com
Study: British lottery winners more likely to vote Conservative

Related links
Nattavudh Powdthavee webpage
Wellbeing Programme webpage

News Posted: 08/02/2014      [Back to the Top]

i

Rental revolution about to arrive, as help-to-buy puts more people on the ladder

market are starting to move their attention beyond London to the regions where, as our index shows, yields are higher." Wind farms and property rates A new study by the London School of Economics due out later this month is expected to show that house values near large wind farms have fallen by around 11 per cent over the last….

This article appeared in i on the 7 February 2014 (no link available)

Related Links
Draft report Link to article
Steve Gibbons webpage

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

The Daily Telegraph

Winning the lottery makes you more right-wing, study finds

Lottery winners don't just swap their cars and houses for something bigger and more luxurious, they also change their political colours to become more right-wing.

This article was published in The Daily Telegraph on February 7, 2014
Link to article here

Related links
Nattavudh Powdthavee webpage
Wellbeing Programme webpage

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

SERC Conference: 15th-16th May 2014 LSE

Call for Papers from Postgraduate Research

The Spatial Economics Research Centre was launched in April 2008 to provide high quality independent research on why some regions, cities and communities prosper more than others. It mobilises international expertise and provides information for policy makers to enhance their capacity to diagnose and tackle existing spatial inequalities.

One significant part of its mission is to contribute to capacity-building in this field by working and networking with young researchers. To pursue this aim, the Centre’s annual conference in May is held over two days, with the first half of the programme devoted to presentations based on current / recent PhD research, and the second to papers by SERC staff and affiliates, relating to the Centre’s own research. These sessions have been very successful in the past in terms of participation and feedback.

Submissions are invited now for papers to be presented in the PhD / young researcher sessions. Topics should reflect SERC’s broad research agenda and relate to one (or more) of its five programme areas:

• The scale and nature of UK spatial disparities
• The causes of place-based effects
• Housing and land markets
• The structure and evolution of the spatial economy
• Spatial economic policy


Successful applicants will be invited to attend both days of the conference. Financial support for authors of those papers selected for presentation (covering economy travel and budget hotel) will be provided by SERC. The choice of papers will be based on 500 word abstracts which should be sent via email by 28th February to Linda Cleavely [l.f.cleavely@lse.ac.uk], together with information about the author’s affiliations, status and date of PhD submission (if awarded in the last three years). Each presenter will also be expected to serve as a discussant. Authors will be notified of decisions by 10th March. If your paper is accepted, deadline for full paper submissions is 2nd May.

If you require further information please contact Teresa Schlueter [T.J.Schlueter @lse.ac.uk]

For more information about SERC and the Annual Conference see http://www.spatialeconomics.ac.uk

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

Irish Times

Lottery wins make people ‘more right-wing'

to favour conservative right-wing ideas. Humans are creatures of flexible ethics,” the London School of Economics declared. Winning a few thousand pounds in the lottery, just like finishing...

This article appeared in the Irish Times on 6 February 2014 link to article

Related Links
Nick Powdthavee webpage
Wellbeing webpage

News Posted: 06/02/2014      [Back to the Top]

ValueWalk

Why Volunteering Is Good for Business

in our lives. In a study of American adults, researchers from the London School of Economics found that the more people volunteered, the happier they seemed to be. The odds of being “very happy” rose 7 percent among those who volunteered monthly...

This article appeared in Value Walk on 6 February 2014 link to artilce

Related Links
Richard Layard webpage
Wellbeing webpage

News Posted: 06/02/2014      [Back to the Top]

Forbes.com

Behavioral Economics Gives The Advertising Industry A Nudge In The Right Direction

Cognition Laboratory at Yale, Paul Dolan Professor of Behavioural Science at the London School and economist Paul Ormerod, who has made a lifetime’s work out of studying non linear...

This article appeared on Forbes.com on 6 February 2014 link to article

Related Links
Paul Dolan webpage
Wellbeing webpage

News Posted: 06/02/2014      [Back to the Top]

The Melbourne Newsroom

Lottery wins make people lurch to the right

— was conducted by Professor Nattavudh Powdthavee (University of Melbourne and the London School of Economics and Professor Andrew Oswald (University of Warwick), and released as a Warwick Working...

This article appeared in The Melbourne Newsroom on 6 February 2014 link to article

Related Links
Nick Powdthavee webpage
Wellbeing webpage

News Posted: 06/02/2014      [Back to the Top]

All About Living With Life

Pursuit of happiness

.....things like this can really improve our lives. The movement, founded by LSE professor Richard Layard and Dr Anthony Seldon, aims to create positive social change, and comes as the government prepares to publish findings this autumn on its proposed...

This artilce appeared in All about Living with Life on 6 February 2014 link to article

Related Links
Richard Layard webpage
Wellbeing webpage


News Posted: 06/02/2014      [Back to the Top]

Business Day Live

Economic life 100 years from now

Theorists of happiness such as Richard Layard argue that once people have about $15,000 a year, more money doesn’t make them happier.

This article appeared in Business Day Live (South Africa) on 3 February 2014 link to article

Related Links
Richard Layard webpage
Wellbeing webpage

News Posted: 03/02/2014      [Back to the Top]

Western Morning News

WMN Letters: Wind farm study confirms the obvious

A recent study by the London School of Economics (to be published during February this year), which looked at 150 wind farms across England and Wales over a period of 12 years...

This article appeared in Western Morning News on 3 February 2014 link to article

Related Links Draft report link
Steve Gibbons webpage

News Posted: 03/02/2014      [Back to the Top]

The Gulf Times

The Third Industrial Revolution must create an 'energy Internet'

For example, David King, the United Kingdom’s climate envoy, and the economist Richard Layard have called for increased investment in solar-energy technology. They point out that G-20 countries could “match the spending on the Apollo project”, which enabled manned moon missions four decades ago, by contributing only 0.05% of their annual GDP for 10 years.

This article appeared in the Gulf Times on 2 February 2014 link to article

Related Links
Nick Powdthavee webpage
Wellbeing webpage

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

Pittsburgh Post –Gazette.com

Minimum wage set to rise in Britain -- and Conservatives are (surprisingly) all for it

"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 appeared in the Pittsburgh Post on 2 February 2014 link to article

Related Links
Alan Manning webpage
Labour Markets webpage

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

Indo-Canadian Voice

38 Indian millionaires have moved to UK since 2008

As many as 38 Indian millionaires have moved to Britain since 2008 under a visa targeted at ‘high net worth individuals’ who can invest over £1 million, £5 million or £10 million that ensures...David Metcalf, professor at the London School of Economics (LSE) and chairman of MAC, told the Home Office Committee: “Most of the people buy gilts…“Most of the people buy gilts…Sometimes they borrow the money and then they keep the gilts for five years. They get their indefinite leave to remain, and then they sell them.”

This article appeared in Indo-Canadian Voice on 1 February 2014 link to artilce

Related Links
David Metcalf webpage
Labour Markets webpage

News Posted: 01/02/2014      [Back to the Top]

Social Europe Journal

Why An Increase In The US Minimum Wage Is Likely

Alan Manning looks at the history of the policy since 1938, finding that the federal minimum remains relatively low compared to that in most other OECD countries.

This article appeared in Social Europe Journal on 31 January 2014 link to article

Related Links
Alan Manning webpage
Labour Markets webpage

News Posted: 31/01/2014      [Back to the Top]

Vox

Lessons from the economics of crime

Article by Stephen Machin and Olivier Marie
In many settings, criminal behaviour can be analysed just like any other economic decision-making process, namely - as the outcome of individual choices influenced by perceived consequences. This column explains the advantages of adopting an economic approach to understanding crime. Furthermore, criminal law and crime-prevention programmes can be evaluated using the same normative techniques applied to health, education, and environmental regulation.

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

Related publications
Lessons from the economics of crime, Philip J. Cook, Stephen Machin, Olivier Marie and Giovanni Mastrobuoni. Article in CentrePiece Volume 18, Issue 3, Winter 2013/14
This paper has been published as: Lessons from the Economics of Crime (2013) edited by Philip J Cook, Stephen Machin, Olivier Marie and Giovanni Mastrobuoni. Published by MIT Press, October. Details

Related links
Stephen Machin webpage
Olivier Marie webpage
Labour Markets Programme webpage

News Posted: 30/01/2014      [Back to the Top]

Human Capital Magazine

Corporate dynasties: The curious case of family CEOs

Motor Co, for instance.* However, research from Harvard Business School, the London School of Economics and Columbia University has found that family CEOs are often less hard working than ‘profession...

This article appeared in Human Capital Magazine on 30 January 2014 link to article

Related Publications
Managing the Family Firm: Evidence from CEOs at Work Oriana Bandiera, Andrea Prat, Raffaella Sadun, December 2013, Paper No' CEPDP1250

Related Links
Raffaella Sadun webpage
Productivity and Innovation Programme webpage

News Posted: 30/01/2014      [Back to the Top]

Cornish Guardian

'Wind turbines are slashing house prices by 20% in St Enoder...

property trickier to sell.” A nationwide study published last week by the London School of Economics (LSE) reviewed more than a million homes located near large wind farms over a 12-year and found their property values fell by 11 per cent.

This article appeared in the Cornish Guardian on 30 January 2014 link to article

Related Links
Draft report link
Steve Gibbons webpage

News Posted: 30/01/2014      [Back to the Top]

National Wind Watch: Wind Energy News

‘Wind turbines are slashing house prices by 20% in St Enoder parish'

property trickier to sell.” A nationwide study published last week by the London School of Economics (LSE) reviewed more than a million homes located near large wind farms over a 12-year period, and found their property values fell by 11 per cent...

This article appeared in National Wind Watch: Wind Energy News on 30 January 2014 link to article

Related Links
Draft report link
Steve Gibbons webpage

News Posted: 30/01/2014      [Back to the Top]

RAC Magazine

Scientists call for push on energy storage

former UK chief scientific advisor, Lord Richard Layard, programme director at the London School of Economics, and Mark Maslin, professor of climatology at University College London, called for a campaign to secure international renewable energy storage funding.

This article appeared on RAC Magazine on 30 January 2014 link to article

Related Links
Richard Layard webpage
Wellbeing webpage

News Posted: 30/01/2014      [Back to the Top]

Bangkok Post

The Third Industrial Revolution

For example, David King, the United Kingdom's climate envoy, and the economist Richard Layard have called for increased investment in solar-energy technology. They point out that G-20 countries could "match...

This article appeared in the Bangkok Post on 29 January 2014 link to article

Related Links
Richard Layard webpage
Wellbeing webpage webpage

News Posted: 29/01/2014      [Back to the Top]

The Carbon Brief (Blog)

Mail takes gloomiest view of how windfarms affect house prices

Mail takes gloomiest view of how windfarms affect house prices Professor Stephen Gibbons, director of the spatial economics research centre at LSE, is in the process of producing a new analysis. His draft paper finds that if more than 20 wind turbines are erected within two kilometres of a house, its value is reduced by about 11 per cent. But it also notes that this is an "extreme case" because homes are rarely situated so close to windfarms.

This article appeared in the Carbon Brief on 28 January 2014 link to article

Related Links
Draft report link
Steve Gibbons webpage

News Posted: 28/01/2014      [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]

Working Knowledge (Harvard Business School)

Family CEOs Spend Less Time at Work

CEOs who are related to the owners of family-owned firms work significantly fewer hours than nonfamily CEOs, according to a new study by Raffaella Sadun and colleagues. This is in light of the fact that longer working hours are associated with higher productivity, growth, and profitability.

This article was published online by Harvard Business School's Working Knowledge on January 27, 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: 27/01/2014      [Back to the Top]

Project Syndicate - SALAMANCA

Squaring the Eurozone's vicious circle

Article by Luis Garicano with Lucrezia Reichlin
The eurozone is caught in a diabolical loop, in which weak banking systems harm their sovereigns' fiscal positions, which in turn compromise the banking system's stability. But, over the last couple of years, policymakers have focused largely on reducing banks' impact on their sovereigns - for example, through a Europe-wide supervisory authority and efforts to establish a European resolution mechanism - while ignoring the feedback in the other direction.

The article was published online by Project Syndicate - SALAMANCA on January 27, 2014
Link to article here

Related links
Luis Garicano webpage
Productivity and Innovation Programme webpage


News Posted: 27/01/2014      [Back to the Top]

Spatial Economics Research Centre - blog

Cities outlook 2014: Would UK cities be better off without London?

Blog posted by Prof Henry G. Overman
Great to see Centre for Cities latest 'Cities Outlook' report published today. This year, as well as providing a whole range of up-to-date statistics for Britain's cities, the report focuses on London's relationship with the rest of the UK. ... Recognising the importance of size creates all sorts of problems about which places to focus on outside of London. CfC's report dodges the dilemma by making the case for greater localism for all cities. Most politicians choose to behave likewise, focussing on creating opportunities across Britain. But what if reducing the reliance of Britain on London requires us to significantly increase the size of just one or two other cities? Which cities will they be and how will we help them grow? I don't claim to have the answers, but I at least think we should be asking the question.

The blog piece was posted on the Spatial Economics Research Centre (SERC) blog on January 27, 2014
Link to article here

Related links
Henry Overman webpage
SERC website

News Posted: 27/01/2014      [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]

The Times

Boom in number of visas given to rich foreigners

Sir David Metcalf, an emeritus professor at the London School of Economics, told the Commons Home Affairs Select Committee last month that it was time to think creatively about the operation of the investor visa route.

The article was published in The Times on January 27, 2014
Link to article here

Related Links
David Metcalf webpage
Labour Markets webpage

News Posted: 27/01/2014      [Back to the Top]

The Wall Street Journal (Europe)

Catalan academics push independence

The scholars - five economists and a political scientist from Harvard, Princeton, Columbia, the London School of Economics and prominent institutions - call themselves the Wilson Initiative, after U.S. President Woodrow Wilson, a champion of national self-determination. Luis Garicano, a professor at the London School of Economics from central Spain, said exchanges about Catalonia on the blog he founded were ''some of the least pleasant and most aggressive debates we have ever had.''

This article was published in The Wall Street Journal (Europe) on January 27, 2014
Link to article here

Related Links
Luis Garicano webpage
Productivity and Innovation webpage

News Posted: 27/01/2014      [Back to the Top]

The Daily Mail

Proof wind turbines take thousands off your home: Value of houses within 1.2 miles of large wind farms slashed by 11%, study finds

The study by the London School of Economics (LSE) – which looked at more than a million sales of properties close to wind farm sites over a 12-year period – found that values of homes within 1.2 miles of large wind farms were being slashed by about 11 per cent.

This artilce appeared in the Daily Mail on 26 January 2014 link to article

Related Links
Draft report link
Steve Gibbons webpage

News Posted: 26/01/2014      [Back to the Top]

The Daily Telegraph

France could destroy the euro, says Christopher Pissarides

Nobel laureate believes the ability of France to reform will decide the eurozone's fate
France could destroy the euro if the government's gamble on supply side reforms fails to pull the economy out of its chronic malaise, Nobel laureate Sir Christopher Pissarides has warned. Sir Christopher, who won the the 2010 Nobel Prize for economics, said the ability of Europe's second largest economy to implement sweeping changes would decide the fate of the single currency.

This article was published by the Daily Telegraph on January 25, 2014
Link to article here

Related publications
In brief: Tough choices for a troubled euro, Christopher Pissarides. Article in CentrePiece Volume 18, Issue 3, Winter 2013/14

Related links
Christopher Pissarides webpage
Macro Programme webpage

News Posted: 25/01/2014      [Back to the Top]

The Financial Times

The economist's guide to the future

''What will the world look like in 100 years?'' wondered Ignacio Palacios-Huerta. Being an economist at the London School of Economics, he put this question to other economists. Economists liked his question. Incomes will probably be much higher worldwide, driven by higher productivity, most of the writers agree. In 100 years, the world's poorest people may live like today's middle-class Americans, says Roth. That matters. However, writes Avinash Dixit of Princeton, rising incomes in developed nations matter much less. Theorists of happiness such as Richard Layard argue that once people have about $15,000 a year, more money doesn't make them happier.

This article was published in the Financial Times on January 24, 2014
Link to article here

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

Related links
Richard Layard webpage
Wellbeing Programme webpage


News Posted: 24/01/2014      [Back to the Top]

HandVNews

Scientists call for push on energy storage

Leading economists and science experts in the UK have called for an international push akin to the Apollo space mission to kick-start the deployment of renewable energy storage technology, PV-Tech reported. Speaking at an event at the UK's House of Lords, Sir David King, the former UK chief scientific advisor, Lord Richard Layard, programme director at the London School of Economics, and Mark Maslin, professor of climatology at University College London, called for a campaign to secure international renewable energy storage funding. The event, 'Running out of time - climate change', hosted speakers and debate on resolutions to international energy issues.

This article was published online by H&VNews on January 23, 2014
Link to article here

Related links
Richard Layard webpage
Wellbeing Programme webpage

News Posted: 23/01/2014      [Back to the Top]

Business Insider

Here's proof that America has the best-managed companies in the world

The United States is enjoying a golden age of management. American manufacturing firms, retailers, and hospitals are currently the best managed in the world, according to a comprehensive study by a group of economists that was recently highlighted in The Economist. That's great news for the U.S., as good management practices are strongly linked to increased productivity, profitability, and growth. The four economists behind the study - Nicholas Bloom of Stanford, Christos Genakos of the Athens University of Economics and Business, Raffaella Sadun of Harvard Business School, and John Van Reenen of the London School of Economics - have spent a decade and counting on the project, surveying more than 10,000 organizations across 20 countries.

This article was published online in Business Insider 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

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

News Posted: 23/01/2014      [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]

Evening Standard

Mental health problems ‘are costing London £26bn a year'

London is facing an annual bill of £26billion to cope with mental health problems, says a report. The document, commissioned by Mayor Boris Johnson, outlines the full economic and social cost to the capital. Martin Knapp, professor of social policy at the London School of Economics, who was on the report's working group, said more needed to be done. ''This is far too high a price to the city, and much of it is because we are not addressing individual and social needs properly.''

This article was published by the Evening Standard on January 22, 2014
Link to article here

See also
International Business Times UK
Mental ill health costs London £26bn a year as capital's businesses lose out

Related links
Martin Knapp webpage
Wellbeing Programme webpage


News Posted: 22/01/2014      [Back to the Top]

The Financial Times

Protests over axing of 'vital' land price statistics

In a letter to chancellor George Osborne and business secretary Vince Cable, signatories including Kate Barker - author of a 2004 Labour-commissioned review of housing supply - warn that the decision by the Valuation Office Agency to stop collecting and publishing land price data ''makes it much harder for government to understand the consequences of current policy interventions or to assess the case for future reform''. ... signatories to the letter include Paul Cheshire, professor of economic geography at the London School of Economics.

The article was published in The Financial Times - Politics and Policy - on January 22, 2014
Link to article here

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

News Posted: 22/01/2014      [Back to the Top]

Financial Times

Horrors fade but fragility concerns remain

a host of Nobel-prize winning economists travelling to the forum, Professor Edmund Phelps of Columbia University said the outlook was "good but not great" while Professor Chris Pissarides of the London School of Economics said that outside the eurozone he had "confidence that [countries] can withstand the start of monetary policy normalisation". Unlike José Manuel Barroso, the European Commission president,

This article appeared in the Financial Times on 22 January 2014 link to article

Also in
El Espectador
Davos 2014: desaparecen los horrores, pero sigue la fragilidad, January 22, 2014


Related Links
Chris Pissarides webpage
Macro Programme webpage

News Posted: 22/01/2014      [Back to the Top]

British Politics and Policy at LSE

Blog - Does school spending matter? Early years investment may offer higher returns – but the returns erode unless topped up during later phases of childhood

Would increasing the share of Britain's national income devoted to education make much of a difference? And what is the ideal balance of spending between early years, primary and secondary education? Steve Gibbons and Sandra McNally review the research evidence on the causal effects of school resources on pupil outcomes.

The article was published in the British Politics and Policy at London School of Economics blog on January 22, 2014
Link to article here

Related publications
Does school spending matter?, Steve Gibbons and Sandra McNally. Article in CentrePiece Volume 18, Issue 2, Autumn 2013
'The Effects of Resources Across School Phases: A Summary of Recent Evidence', Stephen Gibbons and Sandra McNally, Centre for Economic Performance Discussion Paper No.1226, June 2013

Related links
Stephen Gibbons webpage
Sandra McNally webpage
Education and Skills Programme webpage

News Posted: 22/01/2014      [Back to the Top]

Adaptation, Green Growth and Urbanization Workshop

28th-29th January 2014

LSE’s Grantham Research Institute and the Spatial Economics Research Centre invite you to a joint workshop on adaptation, green growth and urbanization.

The purpose of the workshop is to bring together work (final or in-progress) addressing key questions and applying innovative methods and approaches at the frontier of adaptation, green growth and urbanisation research.

The workshop will consist of four sessions, arranged according to four major perspectives (development and growth; spatial; natural hazards; and policy), two key note speakerships and a roundtable with practitioners. For more information includin