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News and Press

News Archive 2016

Daily Mirror

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

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

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


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

CEP Urban and Spatial Programme

CEP Growth

Paul Cheshire webpage

John Van reenen webpage



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

LSE British Politics and Policy blog

The year in review: Brexit and then some

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

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


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

CEP Growth

John Van reenen webpage



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

LSE News

New Year Honours at LSE

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

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

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

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


Related Links:
LSE News - New Year Honours at LSE

Brexit: the final assessment

Turning houses into gold: the failure of British planning

CEP Urban and Spatial Programme

CEP Growth

Paul Cheshire webpage

John Van reenen webpage



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

ElEspanol

EEUU asume la destruccion de millones de empleos por el 'boom' de los robots

So, the White House cites a study of 2015 by George Graetz and Guy Michaels made in 17 countries, that concluded that the robots helped to increase the wealth of those countries by 0.4% between 1993 and 2007.

Related Links:
ElEspanol - EEUU asume la destruccion de millones de empleos por el 'boom' de los robots

Robots at work: the impact on productivity and jobs

Robots at Work

CEP Labour Markets

Georg Graetz webpage

Guy Michaels webpage



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

Guardian

Housing leaders recognised in New Year Honours list

Five housing executives and a professor of economics and housing policy have been awarded medals in the New Year honours list.

Paul Cheshire, professor of economic geography at the London School of Economics, receives a CBE for services to economics and housing. Cheshire has written extensively on planning issues, land use and regulation, and mixed communities.


Related Links:
Guardian - Housing leaders recognised in New Year Honours list

Turning houses into gold: the failure of British planning

CEP Urban and Spatial Programme

Paul Cheshire webpage



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

Live Trading News

Feel good, strive to make this world a happier place

In terms of emotional well-being, “there is no further progress beyond an annual income of $75,000,” researchers wrote, concluding that “high income buys life satisfaction but not happiness.”

There is also evidence suggesting that the “mid-life crisis,” a period of unhappiness that hits many people in their 40’s, may be real. Research from 500-K people revealed a distinct U-shaped curve to their happiness levels. …

This is one reason why strong social ties are indicative of one’s happiness; mental illness, especially depression and chronic anxiety, is “the biggest single cause of misery in advanced countries,” according to LSE’s Centre for Economic Performance (CEP).  One of CEP’s priorities is to overhaul public policy to increasingly aim at increasing wellbeing and personal happiness, especially since only 33% of people struggling with mental illness receive treatment, such as cognitive behavioral therapy.

Mr. Layard is the founder of Action for Happiness, a movement of people committed to building a happier and more caring society.


Related Links:
Live Trading News - Feel good, strive to make this world a happier place

Unmet Aspirations as an Explanation for the Age U-Shape in Human Wellbeing

CEP Wellbeing

Hannes Schwandt webpage

Richard Layard webpage



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

The Daily Telegraph

Former PWC boss knighted in New Year's Honours

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


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

BREXIT 2016: Policy Analysis from the Centre for Economic Performance

Turning houses into gold: the failure of British planning

CEP Urban and Spatial Programme

CEP Growth

Paul Cheshire webpage

John Van reenen webpage



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

Bloomberg

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

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

Other notable awards include:

CBE for London School of Economics professor Paul Cheshire.

OBE for and MIT economics professor John Van Reenen


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

CEP Urban and Spatial Programme

CEP Growth

Paul Cheshire webpage

John Van reenen webpage



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

Harvard Business Review

Why the best hospitals are managed by doctors

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


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

In brief: Hospital performance: the impact of good management

CEP Growth

Nick Bloom webpage

Raffaella Sadun webpage

John Van reenen webpage



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

Guardian

Happiness study ‘lets austerity off the hook', psychologists claim

LSE study led by Labour peer found that failed relationships and physical and mental illness were bigger causes of misery than poverty

Clinical psychologists have raised the alarm over a controversial piece of research led by a Labour peer, with one saying it “lets austerity off the hook” as a cause of mental health problems.

The London School of Economics study led by Lord Richard Layard, published in early December, found that failed relationships and physical and mental illness were bigger causes of misery than poverty.  The study, headlined the “Origins of happiness”, made the claim that eliminating depression and anxiety would reduce misery by 20%, while eliminating poverty would only reduce it by 5%.

 

 

Associated article

Vox

Origins of happiness: Evidence and policy implications

Andrew Clark, Sarah Fleche, Richard Layard, Nattavudh Powdthavee and George Ward

 


Related Links:
Guardian - Happiness study ‘lets austerity off the hook', psychologists claim

CEP Wellbeing

Andrew Clark webpage

Sarah Fleche webpage

Richard Layard webpage

Nick Powdthavee webpage

George Ward webpage



News Posted: 26/12/2016      [Back to the Top]

Guardian

Experts call for official guidelines on child screen use

Educationalists, psychologists and authors also call for a minister for children to try to address ‘toxic’ nature of childhood

“Without concerted action, our children’s physical and mental health will continue to deteriorate, with long-term results for UK society that are frankly unthinkable.”

Among the signatories is Sue Palmer, the author of the 2006 book Toxic Childhood, which tapped into parental angst about raising children in the modern world; the psychologist and educational consultant Dr Richard House; the professor of education Dr Robin Alexander; the wellbeing programme director at the London School of Economics’ centre for economic performance, Richard Layard; the former London schools commissioner Sir Tim Brighouse, the psychologist and author Steve Biddulph and a former government mental health champion Natasha Devon.


Related Links:
Guardian - Experts call for official guidelines on child screen use

CEP Wellbeing

Richard Layard webpage



News Posted: 25/12/2016      [Back to the Top]

LSE USA Politics and Policy blog

More public holidays would boost national wellbeing

A a survey of leading wellbeing researchers from around the world finds that more public holidays would be better for everyone, writes Paul Frijters.

The World Wellbeing Panel on wellbeing and public holidays is available here.

The experts, their affiliations and their responses to the Christmas edition of the survey are here.

 


Related Links:
LSE USA Politics and Policy blog - More public holidays would boost national wellbeing

CEP Wellbeing

Paul Frijters webpage



News Posted: 24/12/2016      [Back to the Top]

Investor view.dk (Denmark)

Robot teknologi kan fa hjaelp I 2017

We have seen signs that the companies which manage to exploit the robots and the Internet of Things (IoT) in their production machinery can compete with factories in the distant economies. This trend is further enhanced by rising wages in the South-East Asian economists, while the price of Robotics vice versa decreases from year to year. According to the study "Robots at Work" from 2015 by Georg Grätz and Guy Michaels at the London School of Economic and Political Science caused the death of a quality adjusted robot in 2005 only a fifth of the price in 1990.


Related Links:
Investor view.dk (Denmark) - Robot teknologi kan fa hjaelp I 2017

Robots at work: the impact on productivity and jobs

Robots at Work

CEP Labour Markets

Georg Graetz webpage

Guy Michaels webpage



News Posted: 23/12/2016      [Back to the Top]

The Walton Sun (Florida, USA)

Happiness may help fight poverty

Too often in our business we focus primarily on finances. Of course, that is what financial professionals do, but we could be neglecting an important, maybe more important, piece of the pie. The recent London School of Economics report "Origins of Happiness" found that more human misery was related to failed personal relationships along with mental illness than financial problems. Tackling mental health issues may be the best way to fight poverty. Richard Layard, an advisor to Prime Ministers Tony Blair and Gordon Brown, led the study, which analyzed data from four countries including the United States. Layard believes money spent on mental health would pay for itself by generating income from increased employment and reduced healthcare costs. Over several decades, Layard has made the argument social and psychological factors are more important than income levels when it comes to life satisfaction. Layard notes that having a partner is as right for you as being unemployed is bad for you.

Associated article: Vox Origins of happiness: Evidence and policy implications  Andrew Clark, Sarah Fleche, Richard Layard, Nattavudh Powdthavee and George Ward

 


Related Links:
The Walton Sun (Florida, USA) - Happiness may help fight poverty

CEP Wellbeing

Andrew Clark webpage

Sarah Fleche webpage

Richard Layard webpage

Nick Powdthavee webpage

George Ward webpage



News Posted: 22/12/2016      [Back to the Top]

LSE Business Review blog

More public holidays would boost national wellbeing

This is the consensus finding of a survey of leading wellbeing researchers from around the world, writes Paul Frijters.

Related articles:  World Wellbeing Panel Survey: ‘Wellbeing and Public Holidays’, December 2016

World Wellbeing Panel webpage.


Related Links:
LSE Business Review blog - More public holidays would boost national wellbeing

CEP Wellbeing

Paul Frijters webpage



News Posted: 22/12/2016      [Back to the Top]

Bloomberg

Brexit and politics loom over UK after tumultuous 2016

“The more likely a hard Brexit becomes, the bigger I think the business response will be in terms of reducing investment and firms relocating activity out of the U.K.,” said Thomas Sampson, a professor at the London School of Economics. “It’ll be a slower effect gradually emerging over time rather than anything dramatic.”


Related Links:
Bloomberg - Brexit and politics loom over UK after tumultuous 2016

BREXIT 2016: Policy Analysis from the Centre for Economic Performance

CEP Trade

Thomas Sampson webpage



News Posted: 22/12/2016      [Back to the Top]

Bloomberg view

Little improvements crowd out world-changing innovation

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


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

CEP Growth

Nick Bloom webpage

John Van reenen webpage



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

Sport (English version)

Ciudadanos harsh attack on Messi which forgot about Ronaldo

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

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


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

CEP Growth

Luis Garicano webpage



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

Emotions blog

New podcast: the politics of wellbeing with Richard Layard and William Davies

Here’s the second episode of our podcast, with Jules Evans interviewing Richard Layard,  former government ‘happiness tsar’ and the creator of the NHS talking therapies service; and Wiliam Davies, author of The Happiness Industry. You can listen to the previous episode, an interview with author Geoff Dyer about peak experiences, here. And you can now subscribe to our podcast on iTunes here.


Related Links:
Emotions blog - New podcast: the politics of wellbeing with Richard Layard and William Davies

CEP Wellbeing

Richard Layard webpage



News Posted: 19/12/2016      [Back to the Top]

Northamptonshire Telegraph

Doubling someone's salary has minimal impact on happiness

While increasing salary had a minimal effect on people’s wellbeing, unemployment reduces the happiness of each unemployed person by about 0.7 points on average.


Related Links:
Northamptonshire Telegraph - Doubling someone's salary has minimal impact on happiness

CEP Wellbeing

Andrew Clark webpage

Sarah Fleche webpage

Richard Layard webpage

Nick Powdthavee webpage

George Ward webpage



News Posted: 19/12/2016      [Back to the Top]

New York Post online

The case against screens in schools

A 2015 London School of Economics study that looked at over 140,000 students across a decade found that when phones were removed from the classroom, test scores went up 6 percent. For students with special needs or those from challenged socioeconomic backgrounds, test scores went up a whopping 14 percent when distracting phones were eliminated.


Related Links:
New York Post online - The case against screens in schools

In brief... Phone home: should mobiles be banned in schools?

Ill Communication: Technology, Distraction & Student Performance

CEP Education and Skills

Richard Murphy webpage



News Posted: 18/12/2016      [Back to the Top]

How we get to next - blog by Matt Locke

Young inventors need role models, not tax breaks

A conversation with MIT’s John Van Reenen

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


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

CEP Growth

John Van reenen webpage



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

University Herald

Science-backed proof that money can't buy happiness

What makes humans happy? What makes you happy? Is it the material and tangible things? Or is it experiences or people? Happiness can be measured and defined in so many ways but according to a study by a team of researchers in London School of Economics, a person’s happiness is based on their personal relationships as well as their physical and mental health.


Related Links:
University Herald - Science-backed proof that money can't buy happiness

CEP Wellbeing

Andrew Clark webpage

Sarah Fleche webpage

Richard Layard webpage

Nick Powdthavee webpage

George Ward webpage



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

Bloomberg - politics

Rajoy gives up control of Spain market regulator in Brexit push

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


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

CEP Growth

Luis Garicano webpage



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

LSE Business Review blog

Fracking has made US manufacturing more competitive

It has lowered costs for energy-intensive industries, boosting output, employment and exports, write Rabah Arezki, Thiemo Fetzer and Frank Pisch

… Our results suggest that the cost advantage due to the shale gas boom may have helped the US economy recover significantly faster than it would otherwise have done after the financial crisis of 2007/08.


Related Links:
LSE Business Review blog - Fracking has made US manufacturing more competitive

Fracking: the boost to US manufacturing

On the Comparative advantage of U.S. Manufacturing: Evidence from the Shale Gas Revolution

CEP Trade

Frank Pisch webpage



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

LSE Business Review blog

Fear of fracking affects house prices in the UK

Shale gas offers the prospect of a low-cost energy future, but invokes fears of environmental catastrophe, write Stephen Gibbons, Stephan Heblich, Esther Lho and Christopher Timmins


Related Links:
LSE Business Review blog - Fear of fracking affects house prices in the UK

In brief... Fear of fracking: the impact on UK house prices

CEP Urban and Spatial Programme



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

OUP blog

Academy schools and the transformation of the English education system

Article by Andrew Eyles and Stephen Machin

Increasing the quality and quantity of an individual’s education is seen by many as a panacea to many social ills: stagnating wages, increases in inequality, and declines in technological progress might be countered by policies aimed at increasing the skills of those who are in danger of falling behind in the modern labour market.

Related publications  Academies, charter and free schools: do new school types deliver better outcomes?’, Andrew Eyles, Claudia Hupkau and Stephen Machin, Economic Policy, Oxford University Press, August 2016


Related Links:
OUP blog - Academy schools and the transformation of the English education system

CEP Education and Skills

Andrew Eyles webpage

Stephen Machin webpage

Sandra Mcnally webpage



News Posted: 14/12/2016      [Back to the Top]

LSE Business Review blog

The big factors affecting life satisfaction are all non-economic

What distinguishes ‘Les Misérables’ from the rest is neither poverty nor unemployment, but mental illness, write Andrew Clark, Sarah Fleche, Richard Layard, Nattavudh (Nick) Powdthavee and George Ward. In 1961, the Organisation for Economic Cooperation and Development (OECD) organised a conference on human capital that propelled education into the centre of policymaking worldwide. This month, the OECD and the London School of Economics (LSE) are holding a conference on subjective wellbeing that they hope will usher in another revolution – where policymaking at last aims at what really matters, the happiness of the people.


Related Links:
LSE Business Review blog - The big factors affecting life satisfaction are all non-economic

CEP Wellbeing

Andrew Clark webpage

Sarah Fleche webpage

Richard Layard webpage

Nick Powdthavee webpage

George Ward webpage



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

Vox

Origins of happiness: Evidence and policy implications

Understanding the key determinants of people’s life satisfaction will suggest policies for how best to reduce misery and promote wellbeing. This column discusses evidence from survey data on Australia, Britain, Germany, and the US which indicate that the things that matter most are people’s social relationships and their mental and physical health; and that the best predictor of an adult’s life satisfaction is their emotional health as a child. The authors call for a new focus for public policy: not ‘wealth creation’ but ‘wellbeing creation’.


Related Links:
Vox - Origins of happiness: Evidence and policy implications

CEP Wellbeing

Richard Layard webpage

Andrew Clark webpage

Sarah Fleche webpage

Nick Powdthavee webpage

George Ward webpage



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

BBC News

Mental health and relationships 'key to happiness'

Good mental health and having a partner make people happier than doubling their income, a new study has found. The research by the London School of Economics looked at responses from 200,000 people on how different factors impacted their wellbeing. Suffering from depression or anxiety hit individuals hardest, whilst being in a relationship saw the biggest increase in their happiness. The study's co-author said the findings demanded "a new role from the state".


Related Links:
BBC News - Mental health and relationships 'key to happiness'

CEP Wellbeing

Richard Layard webpage

Andrew Clark webpage

Sarah Fleche webpage

Nick Powdthavee webpage

George Ward webpage



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

Economics of Higher Education blog

Grade prediction system means the brightest, poorest students can miss out on top university places

Article by Gill Wyness

With UK tuition fees now among the highest in the world, but benefits from having a degree remaining substantial, choosing the right university has never been more important for young people. The government has tried to make this easier by offering more and more information not just on the university experience but on the quality of the institution and even the potential wage return students could reap.


Related Links:
Economics of Higher Education blog - Grade prediction system means the brightest, poorest students can miss out on top university places

CEP Education and Skills

Gill Wyness webpage



News Posted: 09/12/2016      [Back to the Top]

IP Belgium

La pub magazine a bonne press

Consume magazine content increases the well-being of 6%

Professor Paul Dolan of the London School of Economics and Political Science, a world authority on Positive Psychology and happiness, largely inspired this study. The five factors that lead to well-being according to Dolan have been translated into times media for this study: investment of time, reward, information, sharing and connection.


Related Links:
IP Belgium - La pub magazine a bonne press

CEP Wellbeing

Paul Dolan webpage



News Posted: 05/12/2016      [Back to the Top]

Epcatalunya.es

La pérdida de trabajo del padre puede afectar hasta medio punto la nota media de los hijos

In the study’Job Loss at Home: Children’s School Performance during the Great Recession in Spain’, researcher Jenifer Ruiz-Valenzuela, of the Centre for Economic Performance of the London School of Economics, says that the loss of work of the father can lead to a "deterioration" of the educational performance of the children.


Related Links:
Epcatalunya.es - La pérdida de trabajo del padre puede afectar hasta medio punto la nota media de los hijos

In brief...Parental job loss: the impact on children's school performance

Job Loss at Home: Children's School Performance During the Great Recession in Spain

CEP Education and Skills

Jenifer Ruiz-valenzuela webpage



News Posted: 03/12/2016      [Back to the Top]

Sensafiltro

L'Industria 4.0 e il futuro del Made in Italy

In fact the industry 4.0 represents a great opportunity for our manufacturing and for once never catches us completely off-guard. According to a recent study carried out by economists George Graetz and Guy Michaels, Italy is second only to Germany in terms of density, measured as the number of robots per million hours worked.

Related Links:
Sensafiltro - L'Industria 4.0 e il futuro del Made in Italy

Robots at work: the impact on productivity and jobs

Robots at Work

CEP Labour Markets

Georg Graetz webpage

Guy Michaels webpage



News Posted: 02/12/2016      [Back to the Top]

The Daily Telegraph

Half measures won't solve the housing crisis

Paul Cheshire, Professor of Economic Geography at the London School of Economics is a longstanding critic of Britain’s byzantine planning system.

[No link]


Related Links:
Turning houses into gold: the failure of British planning

CEP Urban and Spatial Programme

Paul Cheshire webpage



News Posted: 02/12/2016      [Back to the Top]

LSE South Asia blog

Demonetisation is not the way to tackle corruption

Drawing on India’s previous experiences of demonetisation and contemporary data, Swati Dhingra and Amartya Menon argue the benefits seem few and far between. They write that if the government is serious about tackling corruption, it should prioritise taxing the super-rich and changing the tax system to minimise arbitrary action by corrupt tax officials.


Related Links:
LSE South Asia blog - Demonetisation is not the way to tackle corruption

CEP Trade

Swati Dhingra webpage



News Posted: 30/11/2016      [Back to the Top]

The Daily Telegraph

Minister: Teachers should confiscate iPads as pupils use them to bully and harass

More than 90 per cent of teenagers have mobile phones, but a study by the London School of Economics claimed schools where they were banned saw test scores rise by an average of 6 per cent.


Related Links:
The Daily Telegraph - Minister: Teachers should confiscate iPads as pupils use them to bully and harass

In brief... Phone home: should mobiles be banned in schools?

Ill Communication: Technology, Distraction & Student Performance

CEP Education and Skills

Richard Murphy webpage



News Posted: 30/11/2016      [Back to the Top]

LSE Brexit Vote blog

There is no inevitable negative effect of immigration on the quality of people's lives in the UK

Many people think that migrants take jobs away from citizens, reduce wages or both. Others argue that immigrants benefit the economy because they take risks and start businesses.  In three short videos below Alan Manning explains how migration affects your job prospects, presents the data from the UK and the world, and gives insights on managing migration in light of this evidence. Ultimately, he argues that there is no inevitable negative effect of immigration on the quality of people’s lives in the UK.

This post represents the views of the author.  It was first published at Migration Matters.


Related Links:
LSE Brexit Vote blog - There is no inevitable negative effect of immigration on the quality of people's lives in the UK

CEP Community

CEP Labour Markets

Alan Manning webpage



News Posted: 29/11/2016      [Back to the Top]

LSE Business Review blog

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

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

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


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

CEP Growth

Anna Valero webpage



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

BBC Radio Scotland

Newsdrive

Dennis Novy was interviewed by BBC Radio Scotland on 22 November 2016 about Donald Trump's policy stance towards the Transpacific Partnership (TPP), a proposed trade deal between the United States and various Pacific partner countries. Trump announced he would withdraw from TPP on day one of his presidency.

[Around 4:05pm]


Related Links:
BBC Radio Scotland - Newsdrive

TTIP: is free trade coming to the North Atlantic?

CEP Trade

Dennis Novy webpage



News Posted: 22/11/2016      [Back to the Top]

The Northern Echo (Darlington)

Failing the school test

WE were told that the drive to convert schools into academies would boost choice, results and quality.

However, a new study by the London School of Economics casts doubt on the Government’s determination to see all state schools in England pushed towards academy status.


Related Links:
The Northern Echo (Darlington) - Failing the school test

Unexpected School Reform: Academisation of Primary Schools in England

CEP Education and Skills

Andrew Eyles webpage

Stephen Machin webpage

Sandra Mcnally webpage



News Posted: 22/11/2016      [Back to the Top]

Financial Times

May seeks solution to productivity conundrum

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

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

 


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

Management Practices Across Firms and Countries

CEP Labour Markets

CEP Growth

Stephen Machin webpage

John Van reenen webpage



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

MailOnline

Primary schools' academy conversions ‘have not boosted pupil performance'

The conversion of primary schools into academies has not boosted pupils' performance, according to research. All primary and secondary schools in England were given permission to be run independently of local government in 2010 in an attempt to drive up standards. But a London School of Economics study has found no evidence to support a benefit to primary students' results during the first two years of "academisation".

Also in

Jersey Evening Post; Shropshire Star; Express & Star; Wiltshire Business


Related Links:
MailOnline - Primary schools' academy conversions ‘have not boosted pupil performance'

Unexpected School Reform: Academisation of Primary Schools in England

CEP Education and Skills

Andrew Eyles webpage

Stephen Machin webpage

Sandra Mcnally webpage



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

Halstead Gazette

Study shows converting primary schools into academies has 'not boosted pupils' performance'

NEW research shows the conversion of primary schools into academies has not boosted pupils' performance.

All primary and secondary schools in England were given permission to be run independently of local government in 2010 in an attempt to drive up standards.

But a study by the London School of Economnics has found no evidence to support a benefit to primary students' resutls during the first two years of "academisation".

This article was published online by the Halstead Gazette on November 21, 2016


Related Links:
Halstead Gazette - Study shows converting primary schools into academies has 'not boosted pupils' performance'

Unexpected School Reform: Academisation of Primary Schools in England

CEP Education and Skills

Andrew Eyles webpage

Stephen Machin webpage

Sandra Mcnally webpage



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

Times Educational Supplement

Academy conversion does not improve primary Sats scores

Pupils in primary academies do no better in key stage 2 tests than comparable local authority schools, study finds  

Researchers from the Centre for Economic Performance at the London School of Economics looked at the test performance of 270 primaries, which had converted between September 2010 and April 2012.

They compared pupils’ test scores in the academic years 2006/07 to 2013/14 in these schools with a control group of schools that converted in the 2014/15 or 2015/16 academic years.

The results showed pupils enrolled in a school prior to it becoming an academy did no better in their KS2 tests than those sitting the same exams at comparable schools, “irrespective of the Ofsted grade of the school before it converted”.

This article was published online by the Times Educational Supplement on November 21, 2016

Link to article here


Related Links:
Times Educational Supplement - Academy conversion does not improve primary Sats scores

Unexpected School Reform: Academisation of Primary Schools in England

CEP Education and Skills

Andrew Eyles webpage

Stephen Machin webpage

Sandra Mcnally webpage



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

Guardian

Making primary schools into academies does not boost results, says report

Pupils at early conversters to academy status did not outperform children at schools that converted later, according to LSE research.

“The results cast doubt on whether further expansion of the academies programme will be beneficial to English education,” said Andrew Eyles of the LSE’s centre for economic performance and one of the report’s authors.

This article was published by the Guardian on November 21, 2016

Link to article here


Related Links:
Guardian - Making primary schools into academies does not boost results, says report

Unexpected School Reform: Academisation of Primary Schools in England

CEP Education and Skills

Andrew Eyles webpage

Stephen Machin webpage

Sandra Mcnally webpage



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

Watertown Daily Times

Displaced workers vow to hold Trump to his economic promises

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

Also in:  Aftenposten (Norway)

 

 


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

CEP Growth

John Van reenen webpage



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

SNP Helensburgh

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

HUGE THREAT TO ECONOMY TO OVERSHADOW TORY BUDGET

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

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


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

BREXIT 2016: Policy Analysis from the Centre for Economic Performance

CEP Growth

CEP Trade

Swati Dhingra webpage

Thomas Sampson webpage

Gianmarco Ottaviano webpage

John Van reenen webpage

Hanwei Huang webpage

Holger Breinlich webpage



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

Sunday Herald (Scotland)

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

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

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

Link to article here

 


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

Brexit: the impact on UK trade and living standards

BREXIT 2016: Policy Analysis from the Centre for Economic Performance

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

The consequences of Brexit for UK trade and living standards

CEP Growth

CEP Trade

Swati Dhingra webpage

Thomas Sampson webpage

Gianmarco Ottaviano webpage

John Van reenen webpage

Hanwei Huang webpage

Holger Breinlich webpage



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

Napi.hu (Hungary)

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

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


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

The Economic Impact of Universities: Evidence from Across the Globe

CEP Growth

Anna Valero webpage

John Van reenen webpage



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

Modern Diplomacy

President Trump - Incumbency is different from candidacy

The commonly held belief that immigrants hold down the wages of native workers is also doubtful. The economic literature is mixed although a paper by Marco Manacorda, Alan Manning and Jonathan Wadsworth of the London School of Economics found that economic migrants to the UK have little effect on natives' jobs or wages. New arrivals apparently affect the pay of recent immigrants. A President Trump may build a wall wasting $40-60 billion dollars, but for what?


Related Links:
Modern Diplomacy - President Trump - Incumbency is different from candidacy

The Labour Market Effects of Immigration

The Impact of Immigration on the Structure of Male Wages: Theory and Evidence from Britain

CEP Community

CEP Labour Markets

Marco Manacorda webpage

Alan Manning webpage

Jonathan Wadsworth webpage



News Posted: 17/11/2016      [Back to the Top]

El Esquiu

Lecturas para Macri/Readings for Macri

The book flies over aspects featured of the cases of Denmark, Norway, Sweden and Iceland, countries that are located well above in rankings that measure development, welfare or happiness. The report on 2016 world happiness by John Helliwell, Richard Layard and Jeffrey Sachs under the auspices of the United Nations, Denmark ranks first, Iceland third, Norway fourth and Sweden tenth.

 

This article was published online by El Esquiu (Spain) on November 17, 2016
Link to article here

Related publications

World Happiness Report 2016, Volume 1, J. Helliwell, R. Layard and J. Sachs (Eds), March 2016

 


Related Links:
El Esquiu - Lecturas para Macri/Readings for Macri

CEP Wellbeing

Richard Layard webpage



News Posted: 17/11/2016      [Back to the Top]

Countercurrents.org

Can a President Trump follow his signature agenda?

The commonly held belief that immigrants hold down the wages of native workers is also doubtful. The economic literature is mixed although a paper by Marco Manacorda, Alan Manning and Jonathan Wadsworth of the London School of Economics found that economic migrants to the UK have little effect on natives’ jobs or wages. New arrivals apparently affect the pay of recent immigrants. A President Trump may build a wall wasting $40-60 billion dollars, but for what?

This article was published online by Countercurrents.org on November 17, 2016
Link to article here


Related Links:
Countercurrents.org - Can a President Trump follow his signature agenda?

The Labour Market Effects of Immigration

The Impact of Immigration on the Structure of Male Wages: Theory and Evidence from Britain

CEP Community

CEP Labour Markets

Marco Manacorda webpage

Alan Manning webpage

Jonathan Wadsworth webpage



News Posted: 17/11/2016      [Back to the Top]

Telesur TV

Will President Trump's hands be tied?

The commonly held belief that immigrants hold down the wages of native workers is also doubtful.  The economic literature is mixed although a paper by Marco Manacorda, Alan Manning and Jonathan Wadsworth of the London School of Economics found that economic migrants to the UK have little effect on natives' jobs or wages.  New arrivals apparently affect the pay of recent immigrants.  President Trump may build a wall wasting $40-60 billion dollars, but for what?


Related Links:
Telesur TV - Will President Trump's hands be tied?

The Labour Market Effects of Immigration

The Impact of Immigration on the Structure of Male Wages: Theory and Evidence from Britain

CEP Labour Markets

CEP Community

Marco Manacorda webpage

Alan Manning webpage

Jonathan Wadsworth webpage



News Posted: 16/11/2016      [Back to the Top]

Gov.UK

news story: Professor Alan Manning appointed as Chair of the Migration Advisory Committee

Professor Manning appointed for a 3 year term.

Professor Manning has been appointed for a 3 year term following a rigorous recruitment process regulated by the Commissioner for Public Appointments.

Home Secretary Amber Rudd said:  Professor Manning will bring a wealth of knowledge and experience to his new role as chair of the Migration Advisory Committee.

Under his leadership, I am confident the government will continue to receive transparent, independent and evidence-based advice on migration issues. Professor Manning is a Professor of Economics at the London School of Economics (LSE) and is director of the Centre for Economic Performance’s research programme on community. His expertise is on labour markets, including but not confined to the impact of migration.


Related Links:
Gov.UK - news story: Professor Alan Manning appointed as Chair of the Migration Advisory Committee

CEP Community

Alan Manning webpage



News Posted: 16/11/2016      [Back to the Top]

CKWX News (Vancouver, Canada)

News 1130

Dr Swati Dhingra interviewed, talking about the potential international implications of a Trump White House as well as initial reactions from (Brexit) UK.

The interview was broadcast by CKWX News on the News 1130 programme on November 16, 2016
[No link available.]


Related Links:
CEP Trade

Swati Dhingra webpage



News Posted: 16/11/2016      [Back to the Top]

The Press

Emotional scars of bullying take a lifetime to heal

...to those who weren't bullied. And authors of the study by the London School of Economics and Political Science... (No link)

The article was published online by The Press on November 15, 2016

[No link available.]

 

Related publications

Childhood bullying victimization is associated with use of mental health services over five decades: a longitudinal nationally representative cohort study’, S. Evans-Lacko, R. Takizawa, No. Brimblecombe, D. King, M. Knapp, B. Maugham and L. Arsenault, Psychological Medicine, first view, Kenneth S. Kendler and Robin M. Murray (Eds), November 2016

 


Related Links:
CEP Wellbeing

Sara Evans-lacko webpage

Martin Knapp webpage



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

Al Jazeera

Inside story

Dr Swati Dhingra joined the discussion programme.  The topic was the demonitization of the 500 and 1000 rupee notes in India.

The interview was broadcast by Al Jazeera television on November 15, 2016
Link to broadcast
here


Related Links:
Al Jazeera - Inside story

CEP Trade

Swati Dhingra webpage



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

Daily Journal (Illinois, USA)

Robert Samuelson: Trump's mission impossible?

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

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

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


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

Measuring Economic Policy Uncertainty

CEP Growth

Nick Bloom webpage



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

BBC Radio 4

Evening programme

Martin Knapp is here. Professor of social policy at .. depression, anxiety, bullies themselves never seem to be affected. Professor thank you very much we’ve had a lot of emails on this…

The interview was broadcast by BBC Radio 4 on November 14, 2016
Link to the interview here

Related publication

Childhood bullying victimization is associated with use of mental health services over five decades: a longitudinal nationally representative cohort study, S. Evans-Lacko, R. Takizawa, No. Brimblecombe, D. King, M. Knapp, B. Maugham and L. Arsenault, Psychological Medicine, first view, Kenneth S. Kendler and Robin M. Murray (Eds), November 2016


Related Links:
BBC Radio 4 - Evening programme

CEP Wellbeing

CEP Urban and Spatial Programme

Martin Knapp webpage

Sara Evans-lacko webpage



News Posted: 14/11/2016      [Back to the Top]

BBC News

Evening news

Dr Swati Dhingra on BBC News (19:35) commenting on PM Theresa May's speech on remaking globalization.

[No link available.]


Related Links:
CEP Trade

Swati Dhingra webpage



News Posted: 14/11/2016      [Back to the Top]

Polish Express

Polski dzieci poprawiaja wynicki w nauce swoich brytyjskich kolegow/Polish children improve the academic performance of their British colleagues

A study carried out by the Centre for Economic Performance at the London School of Economics shows that these students have a positive effect on the English students.

"Data from the Catholic schools, which attend children Polish immigrants show that the presence of foreigners can have a positive effect on the children of natives of our country," said Prof. Sandra McNally of Surrey University. Prof. McNally said, too, that this may be due to better standards in schools in Poland as well as the ethics of their parents, who have left their homeland to seek employment in the UK.

This article was published online by Polish Express on November 13, 2016
Link to article here


Related Links:
Polish Express - Polski dzieci poprawiaja wynicki w nauce swoich brytyjskich kolegow/Polish children improve the academic performance of their British colleagues

In brief: Language barriers? The impact of non-native English speakers in the classroom

Non-Native Speakers Of English In The Classroom: What Are The Effects On Pupil Performance?

CEP Education and Skills

Sandra Mcnally webpage

Shqiponja Telhaj webpage



News Posted: 13/11/2016      [Back to the Top]

Plastics Today

Productivity numbers send mixed - maybe wrong - signals

Given the increased usage of robotics and other automation, how will that impact the productivity numbers? In July of 2015, Georg Graetz and Guy Michaels published a paper, “Estimating the Impact of Robots on Productivity and Employment,” in Robohub. The pair set out to discover the impact of robots on the average manufacturing worker by analyzing their effect in 14 industries across 17 developed countries from 1993 to 2007. “We found that industrial robots increase labor productivity, total factor productivity and wages,” said Graetz and Michaels in their study. “While they don’t significantly change total hours worked, they may be a threat to low- and middle-skilled workers.”


Related Links:
Plastics Today - Productivity numbers send mixed - maybe wrong - signals

Robots at work: the impact on productivity and jobs

Robots at Work

CEP Labour Markets

Georg Graetz webpage

Guy Michaels webpage



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

FXStreet

What will Brexit do to Britain's growth rate?

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

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


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

‘ECONOMISTS FOR BREXIT’: A critique

CEP Trade

CEP Growth

Swati Dhingra webpage

Holger Breinlich webpage

Hanwei Huang webpage

Gianmarco Ottaviano webpage

Thomas Sampson webpage

John Van reenen webpage



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

The National (Scotland)

Letters II: Trump's destruction of a priceless treasure is his Scottish legacy

Trump’s true legacy will be that of rural vandalism on a colossal scale. A unique wilderness at Menie destroyed for a golf course. This was a site of Special Scientific Interest, the highest environmental accolade. A dynamic dune system, wetlands, trees and shrubs gone forever.

 

Opposition to the destruction of this priceless landscape came from the RSPB, SEPA, SNH, Ramblers Association and the SWT. No credible environmental organisation supported Trump. Add to this the harassment of local residents, heavy handed policing and the challenges made to our planning regulations. Martin Ford, Scottish Green Party councillor, correctly made the point that Trump “has in turn either bullied or ignored the Scottish planning system”.

 

The economic benefits were also vastly overestimated. The Scottish Government was duped by the estimates given in the economic impact study. Incredibly, this document, a well-crafted piece of sophistry, was not scrutinised properly by the Scottish Government. In 2008, Alex Salmond said that “we can see the social and economic benefits: 6000 jobs across Scotland, 1400 local and permanent jobs here in the north east of Scotland that outweighs the environmental concerns”. At the time, Professor Paul Cheshire of the London School of Economics questioned the number of local jobs that would be created. This has become all too true. No golf “resort” was ever built, nor, thankfully, the second golf course. The 450-bedroom hotel and 1500 houses have also not appeared.


Related Links:
The National (Scotland) - Letters II: Trump's destruction of a priceless treasure is his Scottish legacy

Turning houses into gold: the failure of British planning

CEP Urban and Spatial Programme

Paul Cheshire webpage



News Posted: 01/11/2016      [Back to the Top]

The Times Educational Supplement - TES

'The pen is mightier than the computer for learning'

Pupils make substantially more progress in literacy if they follow a pen-and-paper course than if they take a similar programme online, new research has found. Researchers working with pupils in 51 primary schools found that those following a paper-based literacy programme made 50 per cent more progress than those doing an identical course on a computer. ... Dr Jenifer Ruiz-Valenzuela, an education researcher at the London School of Economics, who carried out the study for the Education Endowment Foundation, believes that it is not the medium of instruction that makes the difference. Instead, it is the teaching that goes along with it. ''In general, research finds very mixed results about the use of technology in school,'' she said. "There are studies that haven't found very big effects from the use of ICT in learning.

This article was published by The Times Educational Supplement on October 28, 2016
Link to article here

Related links
Jenifer Ruiz-Valenzuela webpage
Education and Skills Programme webpage
CVER website



News Posted: 28/10/2016      [Back to the Top]

Yale Global Online

Four fallacies about trade and globalization

Article sources a figure from 'Guessing game: Actual job losses due to robots may not be as bad as anticipated for most countries' (Source: George Graetz and Guy Michaels, “Robots at Work”.



News Posted: 27/10/2016      [Back to the Top]

LSE British Politics and Policy blog

Four principles for the UK's Brexit trade negotiations

The meaning of Brexit is yet to become clear. But if Brexit means leaving the customs union of the European Union, Thomas Sampson looks at what it might meant for the UK to pursue its own trade policy for the first time since joining the EU in 1973.
What strategy should the UK adopt to secure its objectives in future trade negotiations? A successful strategy must be grounded in a clear understanding of why countries negotiate trade agreements and how negotiations are conducted.

This article was published online by the LSE British Politics and Policy blog on October 26, 2016
Link to article here

Related publications
Four principles for the UK's Brexit trade negotiations, Thomas Sampson. CEP Brexit Analysis Paper No. 9, October 2016
Link to CEP Brexit Analysis Series here

Related links
Thomas Sampson webpage
Trade Programme webpage



News Posted: 26/10/2016      [Back to the Top]

Halo Noviny

Velká destrukce

Navíc si mezi sebou přestáváme důvěřovat. Z dat, která v roce 2010 uveřejnil britský ekonom Richard Layard, se ukazuje, že ještě v šedesátých letech 20. století se v USA 60 procent dospělých domnívalo, že může důvěřovat svým nejbližším – tedy rodině. Toto číslo pokleslo na třicet procent v roce 2010. Jedná se o varující signál, že něco není v pořádku..
Additionally, between them we cease to trust. From the data, which in 2010 published a British economist Richard Layard, shows that even in the sixties of the 20th century in the United States 60 percent of adults thought they could trust their closest - a family. That number dropped to thirty percent in 2010. This is a warning signal that something is wrong.

This article appeared in Halo Noviny on 25 October 2016

Related links
Richard Layard webpage
Wellbeing Programme webpage

News Posted: 25/10/2016      [Back to the Top]

Foreign Affairs Magazine

Salvaging Brexit

The right way to leave the EU
Article by Swati Dhingra
On June 30, a week after the British public voted to leave the EU, Theresa May gave a speech launching her candidacy for prime minister in which she declared, ''Brexit means Brexit''. Her message was straightforward: even though she herself had supported remaining in the EU, she would not hesitate to implement the will of the voters. Yet months after assuming office, May has yet to answer crucial questions about what a British exit, or Brexit, would mean for trade, immigration, and financial services. It is still not at all obvious what Brexit will actually look like. That's because the referendum has confronted the government with two distinct but related problems: how to leave the EU as painlessly as possible and how to reverse the years of economic neglect that have divided the country. Solving each will require hard choices, and whatever the politicians decide, some of their supporters will feel let down. With this in mind, they should prioritize prosperity over politics and defy radicals on both sides of the debate.

This article was published online in the November/December 2016 Foreign Affairs Magazine on October 21, 2016
Link to article here

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

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



News Posted: 21/10/2016      [Back to the Top]

The Herald Scotland

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

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

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

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

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



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

International Business Times

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

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

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

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

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



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

RT UK

Cuts caused Brexit

Study says Brexit avoidable if Cameron had cut austerity.
Interview with Dennis Novy

The interview was broadcast by RT UK on October 19, 2016
Link to interview here [0:47 seconds]

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



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

City A.M.

Leaked government documents reveal £75bn cost of hard Brexit

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

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

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

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



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

Guardian

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

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

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

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

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



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

The Independent

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

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

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

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

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



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

The Conversation

Why do wind farms drag down house prices in some places but not others?

Two years ago, the London School of Economics delivered bad news to the renewables industry. It published a research paper that showed that house price appreciation was significantly reduced by being near wind farms in England and Wales. This overturned previous work in both the US and UK which had found no robust evidence of a negative effect.

This article was published online by The Conversation on October 19, 2016
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
Urban and Spatial Programme webpage



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

The Daily Mail

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

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

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

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

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



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

The Independent

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

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

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

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

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



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

The Conversation

A hard Brexit and reduced migration won't benefit UK workers

Article by Barbara Petrongolo
In the wake of Britains vote to leave the EU, the big debate has switched to what relationship the two should have post-Brexit. Top of the agenda is access to the single market and freedom of movement. As well as indications from the government that it is headed for a ''hard Brexit'' - which means leaving the single market and an end to freedom of movement - there has been much talk of limiting the number of foreign workers in businesses since the Brexit vote. In an ebook for VoxEU on Brexit, I've analysed the research on how Brexit will affect the UK labour market, including jobs and wages. From an economic perspective, leaving the single market and curtailing immigration from the EU would not only be bad news for the British economy, but the evidence suggests that it would not bring much benefit to UK-born workers either.

This article was published online by The Conversation on October 18, 2016
Link to article here

Related publications
Brexit Beckons: Thinking ahead, VoxEU ebook by leading economists including Barbara Petrongolo. See Chapter 14: 'Brexit and labour markets'
Brexit and the UK Labour Market, Barbara Petrongolo. Article in CentrePiece, Volume 21, Issue 2, Autumn 2016

Related links
Barbara Petrongolo webpage
Labour Markets Programme webpage
Barbara Petrongolo CEP publications webpage



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

Times Higher Education

Larger bursaries 'boost students' chances of getting good degree

Study of 36,000 undergraduates identifies positive relationship between financial aid, retention and attainment
The larger the bursary a student receives, the more likely they are to get a good degree, according to a major study. Researchers found that each additional £1,000 of financial aid awarded to undergraduates at nine English universities increased their chance of getting top marks (a first or a 2:1) by 3.7 percentage points, with about half of this owing to improved retention, and the rest attributable to higher test scores. Significantly, students from the most deprived backgrounds benefited the most, with the estimated impact of larger bursaries on the poorer half of the sample being about six times greater than the cohort as a whole. Undergraduates with higher prior attainment derived two to three times greater benefit than their course mates with lower school grades, according to Gill Wyness, lecturer in the economics of education at the UCL Institute of Education, and Richard Murphy assistant professor of economics at the University of Texas at Austin.

This article was published by the Times Higher Education on October 18, 2016
Link to article here

Related links
Richard Murphy webpage
Gill Wyness webpage
Education and Skills Programme webpage



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

RT TV

Russia Today

Dennis Novy interviewed live around 8.15pm. The topic analysing the Brexit referendum that was held in June 2016. The interview was about how the Brexit vote outcomes across voting areas in the UK were linked to immigration and fiscal cuts.

The broadcast was shown on RT TV - Russia Today on October 18, 2016
Link to broadcast here

Related publications
Who Voted for Brexit ? A Comprehensive District-Level Analysis, Becker, S. O., T. Fetzer, and D. Novy, CAGE Working Paper 305, October 2016

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



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

Share Radio

Belgium puts EU-Canada trade deal in flux

EU trade ministers have had Belgium on their minds today - but rather than tucking into chocolate and waffles they've been dealing with the more unappetizing problem of a regional Belgian parliament that's blocking their attempts to cut a trade deal with Canada. The Comprehensive Economic and Trade Agreement - or CETA - is the EU's biggest trade deal yet, with many Brexiteers eager to use it as a model for their own post-Brexit deal. But without Belgium on-board, CETA is stalled.
Share Radio's Juliette Foster was joined on the phone by Dennis Novy, Associate Professor of Economics at the University of Warwick and Associate of the Centre for Economic Performance, to discuss the future of CETA.

This interview was broadcast by Share Radio on October 18, 2016
Link to the broadcast here

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



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

The Guardian

Theresa May given stark warning about leaving customs union

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

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

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

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



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

LSE Business Review blog

New immigrants don't affect the job prospects of UK-born workers

New arrivals flock to the occupations and industries in which existing immigrants work, argues Barbara Petrongolo.
Most economists would argue that there is not much of a trade-off involved in this choice. The EU is the UK's largest trade partner (accounting for about half of UK trade flows) and losing access to the Single Market would inevitably damage the UK economy. Dhingra et al (2016a) calculate that in an optimistic scenario in which the UK remains a member of the EEA, it would suffer a 1.3% decline in GDP per head, mostly resulting from the impact of non-tariff trade barriers on trade flows.
But in a pessimistic scenario in which the UK leaves the EEA and trade between the UK and the EU is governed by World Trade Organization rules, the higher increase in trade costs would induce a fall in GDP per head of about 2.6%. To be added to this is the resulting fall in foreign direct investment, which is estimated to produce an even stronger decline in UK GDP than the increase in trade costs (Dhingra et al, 2016b).
Is it economically worthwhile to bear these costs in order to retain controls on immigration flows from the EU? EU immigration has represented the bulk of the recent growth in the share of foreign-born population in the UK, especially after the EU enlargement of 2004, and EU nationals have entered - to varying degrees - all sectors of the UK economy.

This article was published by the LSE Business Review blog on October 18, 2016
Link to article here

Related publications
Brexit Beckons: Thinking ahead, VoxEU ebook by leading economists including Barbara Petrongolo. See Chapter 14: 'Brexit and labour markets'
Brexit and the UK Labour Market, Barbara Petrongolo. Article in CentrePiece, Volume 21, Issue 2, Autumn 2016

Related links
Barbara Petrongolo webpage
Labour Markets Programme webpage
Barbara Petrongolo CEP publications webpage



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

Migration Matters

Do migrants take away jobs?

Part 2/6 from six impossible ideas (after Brexit)
Many people think that migrants take jobs away from citizens, reduce wages or both. But you may also have heard the argument that immigrants benefit the economy because they take risks and start businesses. So, who's right?
We took this question to Alan Manning, Professor of Economics at LSE. In three short videos, Alan explains how migration affects your job prospects, presents the data from the UK and the world, and gives insights on managing migration in light of this evidence.

The episode of Migration Matters was posted on October 17, 2016
Link to the article and films here

Related publications
Recommended reading: Immigration and the UK Labour Market, Jonathan Wadsworth, CEP 2015 Election Analysis Series, Paper No.19, February 2015

Related links
Alan Manning webpage
Community Programme webpage
Alan Manning CEP publications webpage



News Posted: 17/10/2016      [Back to the Top]

The Times

Playing it safe may mean giving Brexit Britain a very wide berth

Foreign direct investment is also much more economically potent than the domestic variety. It brings with it new technological and managerial knowhow that can dramatically boost productivity, according to London School of Economics research.

This article was published in The Times on October 17, 2016
Link to article here

Related publications
Life after Brexit : What are the UK's options outside the European Union?, Swati Dhingra and Thomas Sampson, CEP Brexit Analysis Series Paper No.01, February 2016
The impact of Brexit on foreign investment in the UK, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis Series Paper No.03, April 2016
Technical Appendix to CEP Brexit Analysis Series Paper No.03
See the complete series of CEP Brexit Analysis papers here

Related links
Swati Dhingra webpage
Thomas Sampson webpage
Trade Programme webpage



News Posted: 17/10/2016      [Back to the Top]

WallStreetcn.com (China)

''The news quiz'' United Kingdom ''hard back in Europe,'' you need to know

CEP research article previously published by Vox referenced in article published in PRC:
[8]Swati Dhingra, Thomas Sampson: UK-EU relations after Brexit: What is best for the UK economy?

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

Related article
06 August 2016
Vox
UK-EU relations after Brexit: what is best for the UK economy?

Related publications
Dhingra, S. and T. Sampson (2016), Life After Brexit, CEP Brexit Analysis 01, February 2016
Dhingra, S., H. Huang, G. Ottaviano, J.P. Pessoa, T. Sampson and J. Van Reenen (2016a), The Costs and Benefits of Leaving the EU: Trade Effects, Technical Paper, London: CEP
Dhingra, S., G. Ottaviano, T. Sampson and J. Van Reenen (2016b), The Impact of Brexit on Foreign Investment in the UK, CEP Brexit Analysis 03, April 2016
Dhingra, S., G. Ottaviano, J. Van Reenen and J. Wadsworth (2016c), Brexit and the Impact of Immigration on the UK, CEP Brexit Analysis 05, May 2016

Related links
Swati Dhingra webpage
Thomas Sampson webpage
Trade Programme webpage



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

Yahoo! Canada Finance

Why income inequality among white collar workers is growing

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

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

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



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

The Independent

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

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

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

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

Related links
Thomas Sampson webpage
Trade Programme webpage



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

iNews

The politics behind pound sterling's volatile week

The pound has lost nearly 18 per cent of its value against the dollar since Britain voted Brexit, two per cent more than during the 2008 financial crash. On Thursday it reached its lowest point for 168 years. ''Movements in sterling in the past week have made it clear that news which increases the probability of a 'hard Brexit' reduces the value of the pound,'' Dr Thomas Sampson, an economics lecturer at the Centre for Economic Performance at LSE, told i. ''This reflects concerns that a 'hard Brexit' will increase the costs of trading with the EU and reduce the UK's output and living standards.''

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

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

Related links
Thomas Sampson webpage
Trade Programme webpage



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

LSE Business Review blog

China's highly successful demand for technology transfer in high-speed trains

The rate of growth in technological innovations in China has increased significantly in the past two decades (see Figure 1). What's more, it is widely believed that the ability to learn from foreign technology and chase the global technological frontier relatively quickly has been a key contributor to China's growth miracle (Van Reenen and Yueh, 2012). The Chinese government has actively pursued what it calls a 'market for technology' policy: demanding that in return for having market access, foreign multinationals should develop technology cooperation with local firms.
Our research explores the extent to which international technology transfer spurs domestic innovation. We focus on the best example of the market for technology policy: the introduction of state-of-the-art technology into China's high-speed railways (HSR) during the massive expansion of its HSR system in recent years.

This article was posted online by the LSE Business Review blog on October 13, 2016
Link to the article here

Related publications
High-speed rail in China, Yatang Lin, Yu Qin and Zhuan Xie. Article in CentrePiece Volume 21, Issue 2, Autumn 2016
International Technology Transfer and Domestic Innovation: Evidence from the High-Speed Rail Sector in China, Yatang Lin, Yu Qin and Zhuan Zie, Centre for Economic Performance Discussion Paper No.1393, December 2015

Related links
Yatang Lin webpage
Trade Programme webpage



News Posted: 13/10/2016      [Back to the Top]

Al Jazeera TV

News

Dennis Novy interviewed. The topic was the leaked Brexit analysis from the Treasury and the economic implications of Brexit, in particular for international trade.

This interview was broadcast by Al Jazeera Television on October 11, 2016
Live link no longer available.

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



News Posted: 11/10/2016      [Back to the Top]

BBC Three Counties Radio

Jasmeen Khan

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

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

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

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



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

AMEinfo.com

How is your smartphone distracting you and how to control it

Impact on academia
While technology has disrupted the educational system across the world, and with tablets and laptops replacing physical text books and the entire teaching and learning experience, smartphones remain to be the most controversial aspect in this regard.
Research conducted by Louis-Philippe Beland and Richard Murphy, and published by the Centre for Economic Performance at the London School of Economics, found that banning mobile phones from school premises adds up to the equivalence of an additional week of schooling for a pupil's academic year.

This article was published online by AMEinfo.com on October 9, 2016
Link to article here

Related Publications
In brief ... Phone home: should mobiles be banned in schools?, Louis-Philippe Beland and Richard Murphy, CentrePiece Volume 20, Issue 1, Summer 2015
Ill Communication: Technology, Distraction and Student Performance, Louis-Philippe Beland and Richard Murphy, Centre for Economic Performance Discussion Paper No.1350, May 2015

Related links
Richard Murphy webpage
Education and Skills Programme webpage



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

LSE British Politics and Policy blog

Does immigration harm the job prospects of the UK-born? Brexit and the UK labour market

Following the referendum vote to leave the European Union, the UK faces a trade-off between retaining access to the Single Market and restricting free movement of labour. Barbara Petrongolo considers the likely impact of tougher immigration controls on the wages and employment prospects of the UK-born and the current stock of immigrants.

This article was published on the LSE British Politics and Policy blog on October 8, 2016
Link to article here

Related publications
Brexit Beckons: Thinking ahead, VoxEU ebook by leading economists including Barbara Petrongolo. See Chapter 14: 'Brexit and labour markets'
Brexit and the UK Labour Market, Barbara Petrongolo. Article in CentrePiece, Volume 21, Issue 2, Autumn 2016

Related links
Barbara Petrongolo webpage
Labour Markets Programme webpage
Barbara Petrongolo CEP publications webpage



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

Financial Times

Free Lunch: My country right or wrong

Many government ministers have suggested that immigration is an obstacle to natives getting jobs. Jonathan Wadsworth takes up the home secretary's challenge to talk about immigration and how it may affect young people's labour market opportunities - and points out that it is hard to find any sign that it affects those opportunities at all. He examines the geographic relationship between the change in the rate of youth not in employment, education or training and in the rate of immigrant workers - and finds there is none.
That complements the assessment of the Centre for Economic Performance at the London School of Economics before the referendum, which showed there was no correlation between changes in immigration and changes in native pay or employment by location. A new overview from the centre points out even within the same skill level, immigrants and native workers are not necessarily close substitutes. Indeed those who suffer most from increased immigration are earlier immigrants. Conversely, a reduction in immigration after Brexit may not increase employment for natives but rather lead to more automation in some industries that rely heavily on migrant labour.

This article was published by the Financial Times's Free Lunch blog on October 7, 2016
Link to article here

Related articles
Let's talk about immigration: young people, jobs and training, Jonathan Wadsworth, The State of Working Britain blog, Centre for Economic Performance, October 5, 2016

Related publications
Brexit and the UK Labour Market, Barbara Petrongolo. Article in CentrePiece Volume 21, Issue 2, Autumn 2016
Brexit and the Impact of Immigration on the UK, Swati Dhingra, Gianmarco Ottaviano, John Van Reenen and Jonathan Wadsworth, CEP Brexit Analysis Series Paper No.05, May 2016
Technical Appendix to 'Brexit and the impact of immigration on the UK'
See the whole series of CEP Brexit Analysis papers here
See all postings on The State of Working Britain blog here

Related links
Barbara Petrongolo webpage
Jonathan Wadsworth webpage
Labour Markets Programme webpage
Barbara Petrongolo CEP publications webpage



News Posted: 07/10/2016      [Back to the Top]

The Independent

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

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

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

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

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



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

The Independent

‘Return of the nasty party' claims over Tory crackdown on foreign workers

In a briefing sent afterwards, it was made clear that other measures to be considered would be, ''whether employers should have to set out the steps they have taken to foster a pool of local candidates, set out the impact on the local labour force of their foreign recruitment and be clear about the proportion of their workforce which is international, as is the case in the US.'' It came as a report from the LSE's Centre for Economic Performance found new immigration restrictions on EU workers will damage business and not lead to greater job opportunities for British people.

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

Related publications
Brexit and the UK Labour Market, Barbara Petrongolo. Article in CentrePiece Volume 21, Issue 2, Autumn 2016

Related links
Barbara Petrongolo webpage
Labour Markets Programme webpage
Barbara Petrongolo CEP publications webpage



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

Financial Times

Proposals on lines of foreign workers cause outcry

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

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

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

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



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

The Telegraph (online)

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

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

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

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

It concludes thus:

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

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

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

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

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



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

The Financial Times

Proposals on lists of foreign workers cause outcry

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

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

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

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



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

The Independent

What do immigrants do for the UK economy? Nine charts Conservative ministers seem to be ignoring

Article includes nine charts to help provide an answer to 'And what is the real impact of immigrants on the rest of the workforce and the wider economy?' including:
Jonathan Wadsworth a researcher at the London School of Economics has found no correlation between local average wage growth and the local share of migrants in a local workforce.

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

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

Related links
Jonathan Wadsworth webpage
Labour Markets Programme webpage


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

CEP State of Working Britain blog

Let's talk about immigration: young people, jobs and training

Article by Jonathan Wadsworth
The Home Secretary on the Today programme said that she was happy to talk about immigration in the context of suggesting that there may be a link between immigration and lack of jobs and training opportunities for young people. So let's talk. It is very hard to find any link in the UK between immigration, jobs and training opportunities for young people. And conversations that suggest there may be a link are probably not very helpful.

This article was published online on the State of Working Britain blog on October 5, 2016
Link to article here

Related links
Jonathan Wadsworth webpage
Labour Markets Programme webpage
Jonathan Wadsworth CEP publications webpage



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

The Independent

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

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

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

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

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



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

The Economist

Needed but not wanted

Economic migrants are seen as a threat to jobs and the welfare state. The reality is more complex. Immigration of low-skilled workers has become an increasingly contentious political issue in both America and Britain. Voters in host countries often see a sudden influx of people from places with lower wages, poorer working conditions and a less generous welfare system as a threat to their livelihoods and living standards.

A paper by Marco Manacorda, Alan Manning and Jonathan Wadsworth, of the London School of Economics, concludes that immigrants to Britain are imperfect substitutes for native-born workers, so they have little impact on natives’ job prospects or wages. New immigrants tend to affect only the pay of recently arrived immigrants.

This article was published by The Economist on October 1, 2016

Link to article here.

Related links:
Marco Manacorda webpage
Alan Manning webpage
Jonathan Wadsworth webpage
Community Programme webpage

 



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

The Economist

Education: The road to London

The capital's schools are the best in the country. Can they be copied?
According to a report last year by researchers at the Institute for Fiscal Studies and the London School of Economics, one-sixth of the improvement in central London schools was the result of growing numbers of ethnic minority children, who everywhere in Britain tend to do better in exams and improve more while in school than white pupils. Some also suggest that inner London's startling gentrification has played a role, attracting better teachers to the capital and pushing out poor families, whose children tend to be less swotty.

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

Related publications
Understanding the improved performance of disadvantaged pupils in London, Jo Blanden, Ellen Greaves, Paul Gregg, Lindsey Macmillan and Luke Sibieta, CASE Working Paper No.21, September 2015

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



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

The Economist

Free exchange: Down to earth

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

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

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



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

The Economist

Migration: Needed but not wanted

Economic migrants are seen as a threat to jobs and the welfare state. The reality is more complex
Until quite recently the academic literature treated migrants as substitutes for native workers. But what if they were complements; if low-skilled migrants helped to boost the productivity of low-skilled natives? Gianmarco Ottaviano, of the University of Bologna, and Giovanni Peri, of the University of California, Davis, find that for workers with at least a high-school qualification, the wage effects of low-skill immigration are positive if you drop the assumption that workers of the same age and education are perfect substitutes and that workers of one skill level, say cooks, do not affect the productivity of workers at other skill levels, say waiters or restaurant managers. The effect on the wages of high-school dropouts is only mildly negative. A paper by Marco Manacorda, Alan Manning and Jonathan Wadsworth, of the London School of Economics, similarly concludes that immigrants to Britain are imperfect substitutes for native-born workers, so they have little impact on natives' job prospects or wages. New immigrants tend to affect only the pay of recently arrived immigrants.

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

Related publications
Immigration, offshoring, and American jobs, Gianmarco Ottaviano, Giovanni Peri and Gregory White, American Economic Review, 103(5), August 2013
Immigration: the link to international trade in services, Gianmarco Ottaviano, Giovanni Peri and Gregory White. Article in CentrePiece Volume 20, Issue 2, Autumn 2015
The impact of immigration on the structure of wages: theory and evidence from Britain, Marco Manacorda, Alan Manning and Jonathan Wadsworth, Journal of the European Economic Association, Volume 10, Issue 1, February 2012
The Labour Market Effects of Immigration, Marco Manacorda, Alan Manning and Jonathan Wadsworth. Article in CentrePiece Volume 12, Issue 3, Winter 2008

Related links
Gianmarco Ottaviano webpage
Trade Programme webpage
Marco Manacorda webpage
Alan Manning webpage
Jonathan Wadsworth webpage
Community Programme webpage
Labour Markets Programme webpage



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

The Economist

Free Trade: Coming and going

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

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

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

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



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

Bloomberg

Britain's economy is flying blind 100 days after Brexit vote

“The government doesn’t have a plan, and until it decides, it’s really hard for anyone to prepare,” said Thomas Sampson, a professor at the London School of Economics. “In the short run, uncertainty can cause some decline in activity, but that’s a separate issue from what will happen in the longer run once we change our relationship with the EU, which I’m much more concerned about.”



News Posted: 30/09/2016      [Back to the Top]

indy100 Independent

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

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

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

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

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



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

Robohub.org

The robot economy: interview with Alan Manning

In today's interview, we sat down with Alan Manning, Professor of Labour Economics at the London School of Economics. He is a leading author in his field, particularly in understanding the imperfections of labour markets.
How do you think robots will impact the economy?
Like any new technology, there will be winners and losers. On the whole, however, I believe there will be more winners.

Who will the winners be?
The winners will mostly be two groups: First robots will be used by firms to make production cheaper, which will in turn lower prices, and benefit the consumer. Second, because consumers are getting products cheaper, they will have more money to spend, which will boost the economy as a whole. ...

This article was published online by Robohub.org. on September 27, 2016
Link to article here

Related links
Alan Manning webpage
Community Programme webpage
Alan Manning CEP publications webpage



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

Sputnik News

Soft Power: This is how Chinese companies conquer Britain

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

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

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

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



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

The East Anglian Times

Will you harm your child's academic progress if you buy them a new iPhone 7?

Last year, a study by the London School of Economics claimed schools where mobile phones were banned saw test scores rise by an average of 6%. Perhaps a study should look at the gains such a move could make when it comes to children's emotional well-being. I can't help thinking it would be worth more than 6%.

This article was published by The East Anglian Times on September 25, 2016
Link to article here

Also in:
Ipswich Star
Will you harm your child's academic progress if you buy them a new iPhone 7?

Related Publications
In brief ... Phone home: should mobiles be banned in schools?, Louis-Philippe Beland and Richard Murphy, CentrePiece Volume 20, Issue 1, Summer 2015"
Ill Communication: Technology, Distraction and Student Performance, Louis-Philippe Beland and Richard Murphy, Centre for Economic Performance Discussion Paper No.1350, May 2015

Related links
Richard Murphy webpage
Education and Skills Programme webpage



News Posted: 25/09/2016      [Back to the Top]

Vox

Distinctively different: a new approach to valuing architectural amenities

Article by Gabriel Ahlfeldt and Nancy Holman
Good architectural design is a public good, but economists and policymakers lack robust evidence on the impact of well designed architecture on location value when planning spaces. This column verifies the worth of preserving and designing good architectural spaces by analysing the changes in property prices across conservation and non-conservation areas in England. It finds that good design in buildings has a substantial positive impact on location value.

This article was published online by Vox on September 24, 2016
Link to article here

Related publications
Distinctively Different: A New Approach to Valuing Architectural Amenities, Gabriel M. Ahlfeldt and Nancy Holman, SERC/Urban Programme Discussion Paper No.171, February 2015

Related links
Gabriel Ahlfeldt webpage
Urban Programme webpage



News Posted: 24/09/2016      [Back to the Top]

The Economist

Little Londons

However, land regulation may play a bigger role. According to a recent paper by Christian Hilber and Wouter Vermeulen of the London School of Economics, alongside Greater London, scarcity of open, developable land is greatest in and around Birmingham and Manchester.

This article was published in The Economist on September 24, 2016
Link to article here

Related publications
The Impact of Supply Constraints on House Prices in England, Christian A. L. Hilber and Wouter Vermeulen, SERC/Urban Programme Discussion Paper No.119, September 2012

Related links
Christian Hilber webpage
Urban Programme webpage



News Posted: 24/09/2016      [Back to the Top]

The Independent

Brexit: True cost of UK leaving EU without trade deal revealed

EXCLUSIVE: An analysis by The Independent of official data suggests British exporters would face a cost of at least £4.5bn - and in all likelihood they would take a hit many times larger
A separate analysis by the London School of Economics suggested the welfare losses of moving to the WTO rules in a ''big bang'' would be up to 3.5 per cent of GDP per head instantly. ''The fact that the country is in some way being told to be prepared to face what we regarded as a very pessimistic outcome is quite discouraging in itself,'' said Gianmarco Ottaviano of the LSE. John Van Reenen, a former colleague of Ottaviano and now Professor of Economics at MIT in the US, said trading under WTO rules would be a ''truly dreadful outcome for British people''.

This article was published by The Independent on September 23, 2016
Link to article here

See Also
DigitalSpy
Brexit: True cost of UK leaving EU without trade deal revealed

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

Related links
Gianmarco Ottaviano webpage
John Van Reenen webpage
Trade Programme webpage
Growth Programme webpage



News Posted: 23/09/2016      [Back to the Top]

Money Week online

How we can profit from winning the battle against ageing

Alzheimer's and other forms of dementia affect huge numbers of people - a third of all over-80s have some form of dementia, estimates the US CDC. This has two key effects. Firstly, Alzheimer's is a major killer in its own right - the CDC says it is the fifth-biggest killer of over-65s in America. Secondly, even where it is not directly responsible for death, dementia has a devastating impact on the quality of life for sufferers and their carers, and it also drives up care costs sharply. A 2014 report by the London School of Economics and King's College London put the total cost of dementia to the UK at £26.3bn a year.

This article was published online by Money Week on September 23, 2016
Link to article here

Related publications
Dementia UK (2nd Edition), Martin Knapp et al, Alzheimer's Society, November 2014

Related links
Martin Knapp webpage
Wellbeing Programme webpage



News Posted: 23/09/2016      [Back to the Top]

Handelsblatt

Taten mussen folgen

Even [Sadiq] Khan's predecessor Boris Johnson campaigned with several plans to build 55,000 new homes in London and to slow down the price increase caused by demand pressures. Up to the end of his tenure, he failed. Khan says ''Our city needs more than 50,000 new apartments a year''. Paul Cheshire, real estate expert and former Professor of geography at the London School of Economics (LSE), already had been critical of Johnson's plans and also thinks Khan's promise is hard to meet. ''The goal is indeed desirable, but to achieve it, one would need a magic wand,'' Cheshire said.

This article was published online by Handelsblatt on September 22, 2016
Link to article here

Related links
Paul Cheshire webpage
Urban Programme webpage



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

Washington Center for Equitable Growth

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

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

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

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

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



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

La Croix.com (France)

Brexit, l'économie britannique fait de la résistance

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

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

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

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



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

The Journal Gazette (Indiana, USA)

After Brexit, could be calm before storm

Fear of an economic meltdown was the biggest weapon in the campaign to stop Britain from leaving the European Union. Ten weeks after the vote, though, some say the fearmongering was overdone. Although the pound has fallen to a 30-year low, as predicted, people continue to spend and activity in manufacturing and services rebounded last month from a sharp contraction in July. House prices have held up.
But Swati Dhingra, one of those who forecast severe damage to the economy, says the danger hasn't past. Warnings about the impact of Brexit were focused on what might happen when Britain leaves the EU, and that won't happen for more than two years - at least. Until then, no one knows what the country's relationship with the EU will look like and what effect it will have on trade, labor supply and investment, she said.

This article was published online by The Journal Gazette (Indiana, USA) on September 18, 2016
Link to article here

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

Related links
Swati Dhingra webpage
Trade Programme webpage


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

The Age (Australia)

For faster growth, companies need better chief executives

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

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

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

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

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



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

The Sydney Morning Herald

Faster growth demands better chief executives

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

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

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

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



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

The Conversation

How universities boost economic growth

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

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

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

Related links
Anna Valero webpage
Growth Programme webpage



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

The Irish Times

Solas revamp brings overdue direction to adult education

There have been major changes to Ireland's apprenticeship system over the past few years, and now the overall number of apprentices is expected to increase to about 10,700. And, although Ireland's apprenticeship system is undergoing a much-needed and radical overhaul, to bring in more numbers, the old system couldn't exactly be described as broken. A 2010 report from researchers at the London School of Economics said that ''the duration and standard of apprenticeship training in Ireland is similar to the best European provision and intended to facilitate recognition as skilled craftsmen/women in other EU states''.

This article was published online by The Irish Times on September 13, 2016
Link to article here

Related publications
In brief: The state of apprenticeships, Hilary Steedman. Article in CentrePiece Volume 15, Issue 2, Autumn 2010
The State of Apprenticeship in 2010. International Comparisons: Australia, Austria, England, France, Germany, Ireland, Sweden, Switzerland by Hilary Steedman, jointly published by CEP and the Apprenticeship Ambassadors Network.

Related links
Hilary Steedman webpage
Education and Skills Programme webpage
CVER website



News Posted: 13/09/2016      [Back to the Top]

1 Das Erste (German Public TV Channel) - Europamagazin Programme

Brexit: Chaos in der Regierung und zunehmende Gewalt gegen Polen

Dennis Novy interviewed on the state of the British economy after the EU Referendum, and on the prospects for UK international trade negotiation.

The interview was recorded by 1 Das Erste (German Public TV Channel) on September 11, 2016
Link to broadcast here [About 04:39 minutes in]

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



News Posted: 11/09/2016      [Back to the Top]

Financial Times

May goes into battle for selective education

Prime minister champions grammar system but critics argue reforms will damage social mobility
But critics were quick to dismiss the reforms. Professor Sandra McNally, director of education and skills at the London School of Economics' Centre for Economic Performance, said: ''Tests at age 11 are strongly associated with family income,'' she added. ''This change will probably increase social segregation.''

This article was published online by the Financial Times on September 9, 2016
Link to article here

Related links
Sandra McNally webpage
Education and Skills Programme webpage
CVER website
Sandra McNally CEP publications webpage



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

BBC 2

Newsnight

Sandra McNally interviewed about grammar schools

This programme was broadcast on 9 September 2016 Link

Related Links
Sandra McNally webpage
Education and Skills webpage

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

The Daily Mail

Britain's economy is stable - and people are surprised

Swati Dhingra, one of those who forecast severe damage to the economy, says the danger hasn't past. Warnings about the impact of Brexit were focused on what might happen when Britain leaves the EU, and that won't happen for more than two years - at least. Until then, no one knows what the country's relationship with the EU will look like and what effect it will have on trade, labor supply and investment, she said.
''It's too early to tell,'' said Dhingra, an expert on trade and international economics at the London School of Economics. ''The trade policy changes have not yet happened. Why are we expecting things to change?''

This article was published online by the Daily Mail on September 7, 2016
Link to article here

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

Related links
Swati Dhingra webpage
Trade Programme webpage


News Posted: 07/09/2016      [Back to the Top]

Bloomberg Gadfly

So long, pay rise

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

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

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

Related Links
John Van Reenen webpage
Growth Programme webpage



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

Tim Harford - The Undercover Economist blog

Are universities worth it?

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

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

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

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


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

BBC Radio 4

The World Tonight

Dennis Novy interviewed. The topic was the Transatlantic Trade and Investment Partnership (TTIP) and the recent political backlash from France and Germany.

The interview was broadcast on the BBC Radio 4 The World Tonight Programme on August 30, 2016
Link to broadcast here

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



News Posted: 30/08/2016      [Back to the Top]

Cronista.com

La Universidad a veces solo sirve para perder el tiempo

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

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

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

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

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

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


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

Personnel Today

Why astute CEOs must pay attention to employee mental health issues

Article mentions the 'Wellbeing At Work Event' to be held in London on October 19.
Geoff McDonald is among the speakers at the Wellbeing at Work Event in London on 19 October 2016, a conference for HR professionals, business leaders and consultants.
The event aims to provide a forum for businesses to hear, meet and discuss wellbeing initiatives with leading experts and practitioners. The event will include a programme of influential speakers, debating panels, workshops and networking sessions where delegates can ask questions, exchange ideas and share experiences on a subject that has the potential to change the world of work. Speakers include: Brian Heyworth, global co-head, Financial Institutions Group, HSBC; Morna Dason-Barber, HR director (EMEA), BSI; Lawrence Mitchell, global marketing director and corporate wellbeing programme creator, RBI; Professor Lord Richard Layard, wellbeing director, London School of Economics; Poorna Bell, executive editor and global lifestyle head, The Huffington Post; Sandra Winters, head of wellbeing and corporate responsibility, NHS England; and Louise Aston, wellbeing campaign director, Business in the Community

This article appeared in Personnel Today on 26 August 2016 Link to article

Related links
Richard Layard webpage
Wellbeing Programme webpage

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

Daily Republic

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

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

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

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

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


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

Dagsavisen - Nyemeninger (Norway)

Do we need more goals for society than economic growth?

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

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

Related links
Richard Layard webpage
Wellbeing Programme webpage

News Posted: 26/08/2016      [Back to the Top]

Ask Men

We Get Happier As We Get Older, Study Finds

A recent study from the London School of Economics and Political Science suggested that the ages of 23 and 69 are the best in terms of life satisfaction.

This article appeared in Ask Men on 26 August 2016. 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
Hannes Schwandt webpage
Wellbeing webpage


News Posted: 26/08/2016      [Back to the Top]

WFSB-TV online

Local educators, parents torn on cellphone use in schools

A study by the London School of Economics showed schools that ban students from bringing phones to class see an improvement in test scores by an average 6.4 percent.

This article appeared on WFSB-TV on 25 August 2016. Link to article

Related Publications
In brief ... Phone home: should mobiles be banned in schools?, Louis-Philippe Beland and Richard Murphy, CentrePiece Volume 20, Issue 1, Summer 2015
Ill Communication: Technology, Distraction and Student Performance, Louis-Philippe Beland and Richard Murphy, Centre for Economic Performance Discussion Paper No.1350, May 2015

Related links
Richard Murphy webpage
Education and Skills Programme webpage

News Posted: 25/08/2016      [Back to the Top]

Herald Scotland

Agenda: Business has a key role to play in helping the next generation acquire the skills required to meet future challenges

...UK-wide, we have increased our school leaver intake by 47 per cent because we have already started to see the positive results that increased social mobility and diversity can have on both your bottom line and wider society. ... Recent research from the Centre for Economic Performance suggested that Britain has roughly the same levels of social mobility as the United States, but trails other nations with similar demographics and economic history, such as Canada, the Nordic countries and Germany. Even more concerning is the evidence that our standing in this field is heading in a downward trend.

This article was published online by the Herald Scotland on August 25, 2016
Link to article here

Related publications
Intergenerational Mobility in Europe and North America: A Report Supported by the Sutton Trust, Jo Blanden, Paul Gregg and Stephen Machin, Centre for Economic Performance Speical Report, April 2005
Social mobility in Britain: low and falling, Jo Blanden, Paul Gregg and Stephen Machin. Article in CentrePiece Volume 10, Issue 1, Spring 2005

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



News Posted: 25/08/2016      [Back to the Top]

The Scottish Daily Record

Scottish Government warns on Brexit cost

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

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

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

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


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

LBC Radio

Nick Ferrari

Dennis Novy was interviewed live on LBC radio with Nick Ferrari on 24 August 2016. The topic was Brexit and whether we should have a second referendum. The background was Owen Smith's announcement of having a second referendum if he were to become prime minister.

This interview was broadcast on LBC Radio on August 24, 2016
[No link available.]

Related links
Dennis Novy webpage
Trade Programme webpage



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

The Financial Times.com

Are universities worth it?

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

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

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

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

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



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

Accuracy in Academia

Do colleges + universities = economic growth?

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

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

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

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



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

Der Tagesspiegel (Germany)

Britische Beziehungskisten

Even after the Brexit, Britain will seek economic ties to the EU. But what options are there? What are the costs? And how likely they are?
The economists Swati Dinghra and Thomas Sampson of the London School of Economics to determine United Kingdom had as a member of the EEA ''more sovereignty given up than if remained in the EU''. According to their calculations London would have to pay 83 percent of the sum ...

This article was published online by Der Tagesspiegel on August 23, 2016
Link to article here

Also in
August 24, 2016
EurActiv (DE)
Britische Beziehungskisten

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

Related links
Swati Dhingra webpage
Thomas Sampson webpage
Trade Programme webpage



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

The Australian

Unis pay off with GDP lift: study

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

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

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

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

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

Financial Times

Scotland warns of £11bn cost of Brexit by 2030

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

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

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

Related publications
See the complete CEP Brexit Analysis Series here

Related links
John Van Reenen webpage
Growth Programme webpage


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

This is Money

Tax-free childcare is on the way - but will your family be any better off and how will it compare to childcare vouchers?

The average cost of full-time childcare across the UK for a child under the age of two is £217.57 a week. Part-time care (25 hours, as opposed to the full 50) costs £116.77 a week. Assuming both parents work full-time and get 25 days holiday a year, the average annual bill for 47 weeks of full-time childcare is just over £10,200 and for part-time is close to £5,500. It's hardly surprising then that working mums in lower-paid jobs are being forced to substantially cut their hours or give up work altogether after having a second child, according to a new study from the Centre for Economic Performance at the London School of Economics.

This article was published online by This is Money.co.uk on August 23, 2016
Link to article here

Related links
Claudia Hupkau webpage
Education and Skills Programme webpage
Centre for Vocational Education Research (CVER) website



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

ToVima Magazine (Greece)

The Essence of Happiness

Returning to the interim UN report for happiness, you can find an interesting proposal in many respects. Found in Chapter 3, which shall be signed by the head of the Centre for Economic Performance of the London School of Economics, Richard Layard.

This article was published online by ToVima Magazine (Greece) on August 22, 2016
Link to article here

Related publications
World Happiness Report 2016 Update, John Helliwell, Richard Layard and Jeffrey Sachs (Eds), March 2016

Related links
Richard Layard webpage
Wellbeing Programme webpage



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

Bloomberg View

The age of the never-ending performance review

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

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

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

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



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

Bloomberg View

Another reason to cheer for local U

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

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

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

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

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



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

Times Educational Supplement - TES

'Revolving door' warning

Thousands of 16-year-olds are stuck in an educational ''revolving door'', returning year after year to study low-level qualifications, a major new study has found.
The Centre for Vocational Education Research (CVER) at the London School of Economics tracked a cohort of 575,000 teenagers for four years to find out what progress they made after GCSEs. The researchers' findings were stark: among the learners who sat GCSEs at the age of 16 in 2009-10, about 10,000 were found to be working towards low-level qualifications for four consecutive years.

This article was published by the Times Educational Supplement (TES) on August 19, 2016
Link to article here

Related publications
Post-Compulsory Education in England: Choices and Implications, Claudia Hupkau, Sandra McNally, Jenifer Ruiz-Valenzuela and Guglielmo Ventura, CVER Discussion Paper No.001, July 2016

Related links
Claudia Hupkau webpage
Sandra McNally webpage
Jenifer Ruiz-Valenzuela webpage
Guglielmo Ventura webpage
Centre for Vocational Education Research website
Education and Skills Programme webpage



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

The Financial Times

Graduates still benefit from 'wage premium'

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

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

Related Links
John Van Reenen webpage
Growth Programme webpage



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

The Times

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

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

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

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

Related links
John Van Reenen webpage
Growth Programme webpage



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

Press Reader

ONS hires former MPC member for its experts panel

Britain's statistics office has recruited a group of economic heavyweights to boost its ability to crunch numbers on the health of the economy. ... Three economics professor have also been recruited to the working group: Thomas Crossley from the University of Essex, Peter Sinclair at the University of Birmingham and David Metcalf at the London School of Economics.

This article was published online by the Press Reader on August 18, 2016
Link to article here

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



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

ESRC Blog

The 'photo-finish effect': when third place winners are happier than second

Laura Kudrna, a London School of Economics scholarship PhD candidate, researches the effects of achievement on happiness, particularly focusing on examples of when greater success - be it financial, academic, romantic, or athletic - do not translate into greater wellbeing for individuals or societies. The study, carried out at the ESRC-funded Centre for Economic Performance, recently attracted national headlines. Here Laura gives us a more detailed overview.

Many of us have goals to be 'better' in some way. But does being better mean that we will be happier? One of the most prominent examples of when greater success does not necessarily bring greater happiness is in the Olympics.

This article was published online in the ESRC blog on August 18, 2016
Link to article here

Related publications
Without My medal on My Mind: Counterfactual Thinking and Other Determinants of Athlete Emotions, Paul Dolan, Chloe Foy, Georgios Kavetsos and Laura Kudrna, Centre for Economic Performance Discussion Paper No.1436, June 2016

Related links
Paul Dolan webpage
Georgios Kavetsos webpage
Wellbeing Programme webpage



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

PropertyWire

Researcher blames government not rich foreign buyers for UK housing crisis

Decades of planning policies that constrain the supply of houses and land and turn them into something like gold or artworks is to blame for the current housing crisis in the UK rather than foreign buyers, according to a new analysis. The problem is not foreign speculators buying luxury flats as an investment in London which then lie empty but that for more than 30 years not enough homes have been built, says Paul Cheshire, Professor Emeritus of economic geography at the London School of Economics.

This article was published online by PropertyWire on August 17, 2016
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
Urban Programme webpage



News Posted: 17/08/2016      [Back to the Top]

Vox

Brexit and wage inequality

Article by Brian Bell and Stephen Machin

Wage inequality was partly behind the vote for Brexit. This column shows how areas with relatively low median wages were substantially more likely to vote ‘Leave’, and discusses the likely implications of Brexit for wage inequality in the future. Increased likelihood of a recession, a negative shock to trade, reduced migration flows, and the possible loss of passporting rights for the City will all alter the structure of wages in ways that will need to be carefully monitored and studied in due course.

This column first appeared as a chapter in the VoxEU ebook, Brexit Beckons: Thinking ahead by leading economists, available to download free of charge here.



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

Viet Q.vn (Vietnam)

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

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

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

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

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



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

Money Marketing

Gregg McClymont: What does Brexit mean for UK pensions?

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

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

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

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



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

CIPD

Government urges employers to make breastfeeding at work easier

New initiatives planned to end 'unacceptable and unlawful' discrimination against working women
Employers are being told to do more to help mothers breastfeed their babies at work, as part of the government's latest initiative to tackle workplace discrimination against pregnant women and new mothers. The government's plans aim to encourage organisations to take ''a more progressive approach'' towards female staff who return to their jobs after having children, such as by providing private spaces for breastfeeding mothers to express and store their milk, and places where they can feed their babies while at work. ... In a letter to MPs, James said she wanted pregnant women, mothers and ''all women'' to be able to work ''if they choose to do so''. Her comments follow a study released last week by the Centre for Economic Performance at the London School of Economics, which found that most mothers in low-skilled jobs were forced to give up work after the birth of their second child.

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

Related links
Claudia Hupkau webpage
Education and Skills Programme webpage
Centre for Vocational Education Research (CVER) website

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

BBC Sheffield

Brexit negotiations

Nothing off the table in Brexit negotiations says Centre for Economic Performance's Swati Dhingra.

This interview was broadcast by BBC Sheffield (Radio) on August 13, 2016
Link to broadcast here

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

Related links
Swati Dhingra webpage
Trade Programme webpage


News Posted: 13/08/2016      [Back to the Top]

Pop Off Quotidiano.it (Italy)

Il grande bluff della robotizzazione

Davvero i robot ci ruberanno il lavoro? A che cosa serve davvero l'automazione? Tutte queste predicazioni hanno in comune di invitare i popoli ad abbandonare qualsiasi progetto di poter in qualche modo essere protagonisti del proprio destino
Eppure altre ricerche sono, per contro, nettamente meno allarmiste. Georg Graetz e Guy Michaels non riscontrano ''alcun effetto significativo dei robot industriali per l'occupazione nel suo complesso''.
Will robots really steal your job? Do we really need automation? All of these papers in common invite people to abandon any project
Yet other studies are, however, distinctly less alarmist. Georg Graetz and Guy Michaels have found ''no significant effect of industrial robots for the occupation as a whole''.

This article was publshed online by Pop Off Quotidiano.it (Italy) on August 12, 2016
Link to article here

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

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



News Posted: 12/08/2016      [Back to the Top]

BBC Radio 4

Paul Cheshire interview

Paul Cheshire argues that golf courses capitalise on green belt planning laws which keep down land prices and contribute to a housing shortage.

The interview was broadcast by BBC Radio 4 on August 10, 2016
Link to the interview herer

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
Urban Programme webpage



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

In Facts

Brexiteers try to wriggle out of blame for economic slowdown

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

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

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

Related links
John Van Reenen webpage
Growth Programme webpage



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

Independent

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

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

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

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

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

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



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

Naked Capitalism

How CEOs get paid for luck

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

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

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

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

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



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

CIPD

Most mothers 'forced to give up work after second child'

Working mothers in low-skilled jobs are being forced to either considerably reduce their hours or give up work altogether after having a second child, according to a wide-ranging study that suggests lack of access to childcare has a profound effect on the labour market. While having one child has a relatively limited effect on workforce participation, women in low-skilled jobs reduced the amount they worked each week by an average of 18 hours after the arrival of their second child, according to the study from the Centre for Economic Performance at the London School of Economics (LSE).

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

Related links
Claudia Hupkau webpage
Education and Skills Programme webpage
Centre for Vocational Education Research (CVER) website



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

The Daily Mail online

Having a second baby forces women into poverty: Childcare costs see mothers in low-paid jobs give up work to look after children instead

The addition of a second child can put families under serious financial strain - and in the case of women on the lowest incomes - convince them to give up work altogether in the face of rising childcare costs, a new study has found. Economists Claudia Hupkau and Marion Leturcq compared women in skilled and low-skilled jobs before the birth of their first child and again after their second.

This article was published online by the Daily Mail on August 7, 2016
Link to article here

Related links
Claudia Hupkau webpage
Education and Skills Programme webpage
Centre for Vocational Education Research (CVER) website



News Posted: 07/08/2016      [Back to the Top]

The Financial Express

Gross National Happiness Index: Here's how to focus on the right issues

Data to calculate Gross National Happiness (GNH) includes asking respondents to measure their perceived quality of life on a scale of 0 to 10, with 0 representing the worst and 10 the best possible outcome. The latest report written by three eminent international experts, Jeffrey Sachs, Richard Layard and John Helliwell, was published in March 2016.

This article was published online by the Financial Express on August 6, 2016
Link to article here

Related Publications
World Happiness Report Update 2016, Edited by John Helliwell, Richard Layard and Jeffrey Sachs, March 2016

Related links
Richard Layard webpage
Wellbeing Programme webpage



News Posted: 06/08/2016      [Back to the Top]

Guardian

For UK women in low-paid jobs, a second child is a mixed blessing

A new study finds that, while the addition of a second child has little effect on the working hours of mothers in skilled jobs, it has a substantial and negative effect on low-skilled women who are forced to reduce their hours considerably or even give up their jobs altogether. The findings reinforce the view that there is a shortage of affordable childcare in the UK, despite successive government attempts to help women into work in recent years. The study, by the Centre for Economic Performance at the London School of Economics, to be presented at this month's annual congress of the European Economic Association in Geneva, examined a group of 3,000 women in the UK aged between 20 and 36 who had their first child between 2000 and 2001.

This article was published by the Guardian on August 6, 2016
Link to article here

Related links
Claudia Hupkau webpage
Education and Skills Programme webpage
Centre for Vocational Education Research (CVER) website



News Posted: 06/08/2016      [Back to the Top]

Investor's Business Daily - Politics

Will a robot take your job?

In a 2015 study, ''Robots at Work'', economists at Sweden's Uppsala University and the London School of Economics looked at the economic impact of robots from 1993 to 2007. They found that the use of robots in advanced economies led to both higher productivity and wages, but did reduce the hours worked by those in unskilled occupations.

This article was published online by Investor's Business Daily - Politics on August 6, 2016
Link to article here

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

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



News Posted: 06/08/2016      [Back to the Top]

Vox

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

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

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

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

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


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

Geopolitical Monitor

Flash: Brexit in more concrete economic terms

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

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

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

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



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

LSE Business Review

What kind of relationship with the EU is best for the UK economy post-Brexit?

Article by Swati Dhingra and Thomas Sampson
The UK should join the EEA and remain part of the single market, write Swati Dhingra and Thomas Sampson
The UK has voted to leave the EU, but not in favour of any specific alternative to EU membership. This poses a challenge for UK policy makers and the new Prime Minister Theresa May. What should the UK's relations with the EU be, following Brexit? It is naive to expect economic considerations will be the only factor that determines what relationship the UK eventually seeks with the EU, or what deal the EU is willing to grant the UK. If the UK government's objective were to obtain the highest possible standard of living for UK citizens it would never invoke Article 50 of the Treaty of Lisbon and start the Brexit process. But if Brexit must happen, it is useful to understand which option would do least harm to the UK economically. This option can then serve as a benchmark for evaluating the trade-offs required to obtain political objectives such as limits on immigration and 'taking back control'.

This article was published by the LSE Business Review on August 5, 2016
Link to article here

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

Related links
Swati Dhingra webpage
Thomas Sampson webpage
Trade Programme webpage



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

Simon Radford blog

Three to read

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

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

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

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

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



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

The Independent

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

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

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

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

Related links
John Van Reenen webpage
Growth Programme webpage



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

Centre for Vocational Education Research (CVER) blog

Reflections on the employer support for higher level skills report

Article by John Denham
For the past 20 years and longer, Ministers of all parties have wanted to see more employers support employees and apprentices to gain higher levels skills and higher education. With strong bi-partisan support in a relatively non-ideological area of policy it seems odd that employer supported higher skills have not become a more important part of the skills and education system. In a recent short project for the Institute of Public Affairs I wanted to examine why public policy had apparently failed. I have an interest: I was Secretary of State at the Department for Innovation and Skills from 2007 to 2009 and, more recently, had proposed radical reforms to higher education finance that depended heavily on the expansion of employer supported degrees.

This article was published on the Centre for Vocational Education Research (CVER) blog on August 3, 2016
Link to article here

Related links
In full: Employer Support for Higher Level Skills Report
CVER website



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

LSE European Politics and Policy blog

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

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

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

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

Related links
John Van Reenen webpage
Growth Programme webpage



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

The Courier-Tribune

I've been thrown a U-shaped curve

My best year is supposed to be now. Sixty-nine years old, to be exact. According to the Center for Economic Performance at the London School of Economics, the two happiest years of life are 23 and 69. In between, we're in despair but things gradually get better as we approach 70. It's a U-shaped graph, with happiness at both ends and the depths of despair in the middle. ''One theory is that the U-shape is driven by unmet aspirations which are painfully felt in midlife but beneficially abandoned later in life,'' Princeton researcher Hannes Schwandt, who led the study, told the London Daily Mail.

This article was published by The Courier-Tribune (North Carolina) on August 3, 2016
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

Related links
Hannes Schwandt webpage
Wellbeing Programme webpage



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

LSE Business Review

Are academic economists out of touch with voters and politicians?

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

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

Related links
The Centre for Economic Performance website
CEP Brexit Analysis Series can be seen here

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

Voice of Islam

The Breakfast Show

We are joined by Swati Dhingra to give us an expert view on the migrant spike.

The interview was broadcast by the Voice of Islam Radio on August 2, 2016
Link to the show podcast here

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

Related links
Swati Dhingra webpage
Trade Programme webpage


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

SchoolDash blog

Poverty of opportunity?

Education is not just a vital cornerstone of our culture and economy, it is also potentially one of the great social levellers. However rich or poor our parents, however supportive or dysfunctional our families, a high-quality education ought to give each of us the opportunity to live a fulfilling life limited only by our own talents and efforts rather than by the circumstances of our birth. Or so the theory goes. In this post we look at the question of economic deprivation among children, and in particular how different types of schools either enable or hinder opportunities for those from poorer families. ... The rest of this post looks at these trends in more detail. You may also be interested to see other related work such as the Sutton Trust's recent analysis of social selection in primary schools, Ofsted's 2013 report on underachievement among poor pupils, and the LSE's 2012 research into the effects of schools on house prices.

This article was published online by the SchoolDash blog on August 2, 2016
Link to article here

CEP research on Twitter
Lilian Greenwood @LilianGreenwood (Labour MP for Nottingham)
RT @emranmian: On grammar schools and social mobility ... @SchoolDash work from last week is pretty damning

Related publications
The link between schools and house prices is now an established fact, Stephen Gibbons, LSE British Politics and Policy blog, September 25, 2012
Big ideas: valuing schooling through house prices, Stephen Gibbons. Article in CentrePiece Volume 17, Issue 2, Autumn 2012
Houses and Schools: Valuation of School Quality through the Housing Market, EALE 2010 Pressidential Address, Stephen Machin, Centre for Economic Performance Occasional Paper No.29, May 2011

Related links
Stephen Gibbons webpage
Urban Programme webpage
Education and Skills Programme webpage



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

InDaily.com.au (Australia)

Unions should evolve to reflect enterprise

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

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

Related links
Saul Estrin webpage
Growth Programme webpage



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

LSE British Politics and Policy blog

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

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

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

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

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

Related links
John Van Reenen webpage
Growth Programme webpage



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

Vox

Brexit Beckons: Thinking ahead by leading economists

The June 2016 Brexit referendum saw British voters reject membership of the European Union. Now that a decision has been made, it is time to look forward and find the best solutions for the future of both the UK and the EU. This VoxEU eBook regroups the views of more than a dozen leading economists and specialists on a broad range of issues, from various perspectives.

Trade policy and the City

5. The UK's new trade priorities
Angus Armstrong

6. UK-EU relations after Brexit: What is best for the UK economy?
Swati Dhingra and Thomas Sampson

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

Related articles
Vox on August 1, 2016
A new eBook: Brexit beckons
Link to article here

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

Related links
Swati Dhingra webpage
Thomas Sampson webpage
Trade Programme webpage

Brian Bell webpage
Growth Programme webpage

Stephen Machin webpage
Barbara Petrongolo webpage
Labour Markets Programme webpage



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

Vox

A new eBook: Brexit beckons

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

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

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

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

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

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

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

    Related links
    Swati Dhingra webpage
    Thomas Sampson webpage
    Trade Programme webpage

    Brian Bell webpage
    Growth Programme webpage

    Stephen Machin webpage
    Barbara Petrongolo webpage
    Labour Markets Programme webpage



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

    The Economist

    The impact of free trade: Collateral damage

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

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

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

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



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

    La Tribune

    Le poids des émotions dans l'économie

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

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

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

    Related links
    Nicholas Bloom webpage
    Growth Programme webpage



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

    VideoVox

    A 'Norway Temp' Deal

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

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

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

    Related links
    Swati Dhingra webpage
    Trade Programme webpage



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

    BBC Asian Network

    News

    Swati Dhingra quoted on the impact of Brexit and likely effect on migration.

    This interview was broadcast on BBC Asian Network on July 27, 2016
    Link to broadcast here

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

    Related links
    Swati Dhingra webpage
    Trade Programme webpage



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

    Farming UK

    Will Brexit hit Northern Ireland farmers hardest?

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

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

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

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



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

    BBC Radio 5

    Radio 5 Live

    Interview with Swati Dhingra on the economic impact of Brexit.

    The interview was broadcast on BBC Radio 5 Live on July 27, 2016
    Link to the programme here

    Related publications
    See the complete CEP Brexit Analysis Series here

    Related links
    Swati Dhingra webpage
    Trade Programme webpage


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

    The Irish Examiner

    Northern farmers 'hardest hit' by Brexit fallout

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

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

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

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



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

    Independent

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

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

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

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

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



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

    Royal Economic Society - Media Briefings

    Misery of work second only to illness: UK evidence

    British people are at their least happy while at work - except when they are sick in bed - according to a study forthcoming in the Economic Journal. The researchers Alex Bryson and George MacKerron analysed more than a million responses uploaded to a smartphone app, called Mappiness, that sporadically asks users questions such as how they are feeling, where they are and what they are doing.

    This media briefing was published online by the Royal Economic Society on July 27, 2016
    Link to the briefing 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: 27/07/2016      [Back to the Top]

    BBC News

    Brexit migrant 'spike' warning from MPs

    There could be a spike in UK migration ahead of Britain's withdrawal from the European Union and the possible end to free movement rights, MPs have warned.
    Dr Swati Dhingra, from the London School of Economics, told BBC 5 live the rise in the national living wage in the UK might encourage people to travel to the country. She also said if there was a cut-off date ''a lot of people might think, if they want to move to the UK - now is the time''.

    This article was published online by BBC News on July 27, 2016
    Link to article here

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

    Related links
    Swati Dhingra webpage
    Trade Programme webpage


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

    Foreign Affairs

    The economic consequences of Brexit: A Conversation with Swati Dhingra

    Before Britons voted to leave the European Union, Swati Dhingra, an assistant professor of economics at the London School of Economics, wrote a series of papers with her colleagues trying to convince them otherwise by pointing to the economic consequences. Two weeks after the voters chose Brexit, Dhingra spoke with Foreign Affairs deputy managing editor Stuart Reid in London.

    This article was published online by Foreign Affairs on July 26, 2016
    Link to article here

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

    Related links
    Swati Dhingra webpage
    Trade Programme webpage


    News Posted: 26/07/2016      [Back to the Top]

    Financial Times

    Ethiopia seen as hottest market for exporters

    Ethiopia is likely to be one of the fastest growing markets for western exporters in the next five years, while erstwhile emerging market heavyweights Brazil and South Africa offer paltry growth. Perhaps less surprisingly, China will continue to be the emerging market with the largest appetite for western imports, even if these fall well below the value of its exports, according to analysis by UniCredit, the Italian bank. Ethiopia, alongside neighbouring Kenya, ''are the two countries that provide the strongest opportunities in Africa, and they are catching up with South Africa,'' says Fadi Hassan, assistant professor of economics at Trinity College, Dublin, and consultant for UniCredit.

    This article was published online by the Financial Times on July 26, 2016
    Link to article here

    Related links
    Fadi Hassan webpage
    Trade Programme webpage

    News Posted: 26/07/2016      [Back to the Top]

    The Independent

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

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

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

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

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



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

    National Governors' Association

    Research Matters - Are academies better? National Governors' Association

    This finding is mirrored at least in part by a study of sponsored academies established under the previous Labour government, conducted by the London School of Economics, which argues that the impact of conversion should be analysed at pupil level because, on average, academies began admitting higher ability pupils after conversion. The academies did have a positive impact on pupils who were enrolled prior to conversion, however, and the evidence suggests that headteacher replacement, changes in management structure and curriculum change were the key factors underpinning this improvement.

    This article was published online by the National Governors' Association on July 22, 2016 in the July/August issue of the NGA Magazine
    Link to article here

    Related publications
    The Introduction of Academy Schools to England's Education, Andrew Eyles and Stephen Machin, Centre for Economic Performance Discussion Paper No.1368, August 2015

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



    News Posted: 22/07/2016      [Back to the Top]

    MarketWatch.com

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

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

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

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

    Related links
    Nicholas Bloom webpage
    Growth Programme webpage



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

    Les affaires

    Inégalités: peu à voir avec le sexe, l'ethnie ou l'éducation

    And if income inequality were not related to our kind, our ethnicity or our level of education, but rather to our workplace? Some employers pay better than others. And the gap between those who pay well and those who pay poorly increases more and more.
    Four researchers (Alex Bryson, the National Institute of Economic and Social Research and the Centre for Economic Performance, Richard B. Freeman, Professor of Economics at Harvard University, Erling Barth, Professor at the Institute for Social Research in Oslo and James Davis, Economist at the Center for Economic Studies, U.S. Census Bureau) have decided to look at inequality through a different bezel: that of the company rather than the individual.

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

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

    Related links
    Alex Bryson is a CEP alumni
    Richard Freeman webpage
    Labour Markets Programme webpage



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

    i News

    What people get wrong when talking about post-Brexit economics

    Britain's decision to leave the European Union (EU) has prompted international conversation about the economic implications. But widespread interest doesn't mean widespread expertise. Economists tell i about some of the common post-Brexit misconceptions they've heard in the wake of the vote. ... Dr Thomas Sampson, an economics lecturer at the Centre for Economic Performance (LSE) agrees. ''There is no reason to believe you can have access to the single market while restricting migration,'' Dr Sampson tells i.

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

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

    Related links
    Thomas Sampson webpage
    Trade Programme webpage



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

    Aktuálne.sk (Slovakia)

    United Kingdom in the end: Zavelila for the departure from the EU, in turn, the strategic business of the Kingdom

    ''Brexit makes the UK a less attractive environment for investment, in particular for businesses that rely on the British approach to the single market,'' said economist Thomas Sampson for Mashable. ''Some companies are likely to move some of its activities in continental Europe, though probably not every company that threatens too will really do so.''

    This article was published online by Aktualne.sk (Slovakia) on July 20, 2016
    Link to article here

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

    Related links
    Thomas Sampson webpage
    Trade Programme webpage



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

    slugger o'toole blog

    Remain campaign a victim of its own left liberal conceits?

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

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

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

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



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

    The Economist

    Fear and favour

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

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

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

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



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

    TradingFloor.com

    From the floor: sterling on the ropes

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

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

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

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



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

    The Financial Times

    Metropolitan myths that led to Brexit

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

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

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

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



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

    BBC Radio 4

    The Today Programme

    0750 Swati Dhingra interviewed.

    After the UK gives up full membership of the EU's customs union exporters' goods could be facing checks and delays at Britain's border.



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

    Spiked online

    Cameron's legacy? The reign of soft paternalism

    ... Indeed, the ideological common ground of the political class has perhaps been nowhere more apparent than in the transformation of wellbeing or happiness from being a free individua'ls pursuit into the object of government policy. So committed were New Labour to making people happy that they appointed a so-called happiness tsar, academic Richard Layard, who urged us to 'change our inner attitudes as much as our outward circumstances'. Likewise, Cameron, from the moment he was elected Tory leader in 2005, repeatedly stated 'that there's more to life than money', and that government should focus 'not just on GDP but on GWB - general wellbeing'. In office, Cameron continued to focus on wellbeing, even promoting a 'happiness index' - to measure just how happy we are.

    This article was published by Spiked online on July 19, 2016
    Link to article here

    Related article
    Richard Layard 'Happiness is back', Prospect March 2005, issues 108

    Related links
    Richard Layard webpage
    Wellbeing Programme webpage



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

    HIS Fairplay.com

    Uk Chamber of Shipping hears Brexit warning

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

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

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

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



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

    Vox

    Wage inequality: The spatial dimension

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

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

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

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



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

    Chapelboro.com

    Catch criminals with Pokemon go

    Silver is Better than Bronze
    Obviously, an Olympian wants to go for the gold. But, if you don't win the gold, you will probably be happier to win the bronze instead of a silver medal. That's according to the Centre for Economic Performance.

    This was published online by Chapelboro.com on July 18, 2016
    Link to article here

    Related publications
    Without My medal on My Mind: Counterfactual Thinking and Other Determinants of Athlete Emotions, Paul Dolan, Chloe Foy, Georgios Kavetsos and Laura Kudrna, Centre for Economic Performance Discussion Paper No.1436, June 2016

    Related links
    Georgios Kavetsos webpage
    Paul Dolan webpage
    Wellbeing Programme webpage



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

    Sky News

    Experts from the London School of economics have been looking at the 2012 team

    Discussion re London School of economics study looking at satisfaction rates of athletes winning gold, silver and bronze

    This programme was broadcast on Sky News on 18 July 2016. Link

    Related publications
    Without My medal on My Mind: Counterfactual Thinking and Other Determinants of Athlete Emotions, Paul Dolan, Chloe Foy, Georgios Kavetsos and Laura Kudrna, Centre for Economic Performance Discussion Paper No.1436, June 2016

    Related links
    Georgios Kavetsos webpage
    Paul Dolan webpage
    Wellbeing Programme webpage


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

    Oregon Business

    Merger Mania

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

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

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

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


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

    BBC Radio Leeds

    Discussion of LSE study re medallists satisfaction

    Discussion of LSE study of Olympians, showing bronze medallists are happier with their result than silver medallists

    This programme was broadcast on BBC Radio Leeds on 18 July 2016. Link

    Related publications
    Without My medal on My Mind: Counterfactual Thinking and Other Determinants of Athlete Emotions, Paul Dolan, Chloe Foy, Georgios Kavetsos and Laura Kudrna, Centre for Economic Performance Discussion Paper No.1436, June 2016

    Related links
    Georgios Kavetsos webpage
    Paul Dolan webpage
    Wellbeing Programme webpage


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

    The Independent

    Think you know why people actually voted for Brexit? Think again.

    The dominant narrative suggests it was a 'howl of pain' about immigration, stagnant wages and an out-of-control housing market - but figures suggest that's not really true
    Statistical work by the labour economists Brian Bell and Stephen Machin suggests that areas where average wage growth have been weak for the past two decades were more likely to vote Leave.

    This article was published in The Independent on July 17, 2016
    Link to article here

    Related publications
    Brexit and Wage Inequality, Brian Bell and Stephen Machin, CEP Brexit blog, August 4, 2016

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



    News Posted: 17/07/2016      [Back to the Top]

    The Mail Online

    Why silver is worse than bronze: Study shows Olympians who come second are more upset than those just happy to get on the podium

    Olympians who won the silver medal are less happy than their counterparts who achieved bronze according to the results of a new study of the London 2012 Olympics and Paralympics. Researchers behind the study argue that bronze medallist are happy to have secured a spot on the podium while silver medallists are lamenting about how they could have won gold. However, how happy the medallists are is also influenced by how close their results were compared to the other medal winners. The results of the study was published in June this year as part of a paper from the Centre for Economic Performance based at the London School of Economics and Political Science.

    This article was published by the Mail Online on July 17, 2016
    Link to article here

    Related publications
    Without My medal on My Mind: Counterfactual Thinking and Other Determinants of Athlete Emotions, Paul Dolan, Chloe Foy, Georgios Kavetsos and Laura Kudrna, Centre for Economic Performance Discussion Paper No.1436, June 2016

    Related links
    Georgios Kavetsos webpage
    Paul Dolan webpage
    Wellbeing Programme webpage



    News Posted: 17/07/2016      [Back to the Top]

    Admin5.com (China)

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

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

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

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

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



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

    The Guardian

    Why finishing as runner up may be the worst place of all

    British athletes heading for the Rio Olympics next month will be dreaming of winning a gold medal. But those who cannot bag the top spot may find they are happier with a bronze than coming second. For those who do end up with silver, it might have been better for their mental state if they had been soundly beaten - sometimes, it seems, it is better to lose by a lot than a little. New research suggests that athletes' perception of their achievements is dependent on what they think might have been. A team at the Centre for Economic Performance, based at the London School of Economics, examined the perceived happiness levels of Team Great Britain medallists at the London 2012 Olympic Games.

    This article was published by The Guardian on July 16, 2016
    Link to article here

    Related publications
    Without My medal on My Mind: Counterfactual Thinking and Other Determinants of Athlete Emotions, Paul Dolan, Chloe Foy, Georgios Kavetsos and Laura Kudrna, Centre for Economic Performance Discussion Paper No.1436, June 2016

    Related links
    Georgios Kavetsos webpage
    Paul Dolan webpage
    Wellbeing Programme webpage



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

    Macro Business

    Company tax debate rages… in UK

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

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

    Related Links
    John Van Reenen webpage
    Growth webpage


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

    CVER blog

    If A-Levels aren't for you, choices at age 16 could now get a whole lot simpler

    Article by CVER Director, Sandra McNally, on some of the recommendations of the recent Sainsbury Report
    The incoming British prime minister Theresa May has outlined a vision of a country that ''works not for the privileged few but that works for every one of us ... because we're going to give people control over their lives''. A good place for her to start would be to make sure that the government sticks to its promise to implement the 34 recommendations set out in a new report that aims to radically simplify the education choices available for people after age 16. The Sainsbury report, published on July 8, sets out a blueprint for technical education for young people and adults. The report is wide-ranging and ambitious, with recommendations that cover many aspects of the way education is provided. The government's Post-16 Skills Plan, published on the same day, says the Sainsbury recommendation will be accepted ''unequivocally where that is possible within existing budgets''.

    This article was published on the Centre for Vocational Education (CVER) blog on July 15, 2016
    Link to article here

    Related articles
    This article was originally published on The Conversation

    Related publications
    Post-Compulsory Education in England: Choices and Implications, Claudia Hupkau, Sandra McNally, Jenifer Ruiz-Valenzuela and Guglielmo Ventura, CVER Discussion Paper No.001, July 2016

    Related links
    Sandra McNally webpage
    CVER website
    Education and Skills Programme webpage



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

    Vox

    Distribution and Inequality

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

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

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

    Related links
    Brian Bell webpage
    Growth Programme webpage



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

    Vox

    Brexit and the UK labour market

    Immigration was at the heart of the Brexit debate. In this video, Barbara Petrongolo discusses different policies the UK could implement in terms of immigration. This video is part of the ''Econ after Brexit'' series organised by CEPR and was recorded on 14 July 2016.

    The film 'Econ after Brexit: Labour Markets' was recorded by Vox on July 14, 2016
    Link to the video here

    Related links
    Barbara Petrongolo webpage
    Labour Markets Programme webpage
    Barbara Petrongolo CEP publications webpage



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

    IOL

    Brexit economists say Britain can still benefit

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

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

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

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

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

    Education Policy Institute

    Reflections on ''Academies: 15 Years On'' Conference

    Yesterday the Education Policy Institute, in partnership with the Sutton Trust, hosted the 'Academies: 15 years on summit'. This was an opportunity for researchers, policy makers and system leaders to come together and consider the latest evidence on the impact of academies on pupil outcomes and what Government should do now.
    Dr Olmo Silva presented the work that he, Professor Stephen Machin, and colleagues at LSE have carried out at a system level. This work, commissioned by EPI, looked at the impact of pre-2010 sponsored academies and provided the first robust analysis of the impact of post-2010 secondary converter academies. They found positive impacts for the early sponsored academies, with improvements that were equivalent to five grades across a pupil's GCSE subjects. They also identified positive effects for converter academies that had previously been rated as outstanding - equivalent to about two grades across a pupil's GCSE subjects. But they found no effect for converter academies previously rated as good or satisfactory. Given that such schools make up around two thirds of converters, this is a worrying finding.

    This article was published online by the Education Policy Institute on July 13, 2016
    Link to article here

    Related publications
    Academies 2: The New Batch, Andrew Eyles, Stephen Machin and Olmo Silva, Centre for Economic Performance Discussion Paper No.1370, September 2015
    Academy schools and pupil outcomes, Andrew Eyles and Stephen Machin. Article in CentrePiece Volume 20, Issue 2, Autumn 2015

    Related links
    Stephen Machin webpage
    Olmo Silva webpage
    Education and Skills Programme webpage



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

    Debuque Telegraph Herald (USA)

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

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

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

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

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



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

    Business Day Live

    Are economists at fault for Brexit?

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

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

    Related Links
    John Van Reenen webpage
    Growth webpage

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

    The Conversation

    If A-Levels aren't for you, choices at age 16 could now get a whole lot simpler

    Article by Sandra McNally, Director of the Centre for Vocational Education Research (CVER), LSE and Head of Education and Skills Programme, CEP
    The incoming British prime minister Theresa May has outlined a vision of a country that works not for the privileged few but that ''works for every one of us ... because we're going to give people control over their lives''. A good place for her to start would be to make sure that the government sticks to its promise to implement the 34 recommendations set out in a new report that aims to radically simplify the education choices available for people after age 16. ... Nowhere is reform more necessary than in the options for 16-year-olds, after they finish their GCSE exams, as my colleagues and I have outlined in a new paper. As it currently stands, the system is obtuse - even for us ''experts''.

    This article was published by The Conversation blog on July 13, 2016
    Link to article here

    Related publications
    Post-Compulsory Education in England: Choices and Implications, Claudia Hupkau, Sandra McNally, Jenifer Ruiz-Valenzuela and Guglielmo Ventura, CVER Discussion Paper No.001, July 2016

    Related links
    Sandra McNally webpage
    Centre for Vocational Education Research website
    Education and Skills Programme webpage



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

    The New Times (Rwanda)

    Are phones a blessing or curse for students?

    Research findings
    A new study on students' test performance and smartphones found kids who attend schools with smartphone bans did better on tests - even more so if they were struggling academically before the ban was instituted. Researchers at the London School of Economics gathered test scores from thousands of 16-year-old between 2000 to 2012, studying the effects of cell phone bans on schools. They found that the bans boosted test scores by six per cent. If a child was previously academically under-performing, their scores improved up to 14 per cent. Dr Richard Murphy, the assistant professor of economics at the University of Texas and co-author of the study, said, ''Our conclusion is that unstructured use of phones in schools has a negative impact, mainly for kids at the bottom half of the class. Schools should consider having a policy restricting phone use''.

    This article was published by The New Times (Rwanda) on July 13, 2016
    Link to article here

    Related Publications
    In brief ... Phone home: should mobiles be banned in schools?, Louis-Philippe Beland and Richard Murphy, CentrePiece Volume 20, Issue 1, Summer 2015
    Ill Communication: Technology, Distraction and Student Performance, Louis-Philippe Beland and Richard Murphy, Centre for Economic Performance Discussion Paper No.1350, May 2015

    Related links
    Richard Murphy webpage
    Education and Skills Programme webpage



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

    Huffington Post Canada

    Brexit demonstrates perils of unchecked globalisation

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

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

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

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



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

    Vox

    Gender gaps in performance among high-skilled professionals

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

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

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

    Related links
    Ghazala Azmat webpage
    Growth Programme webpage



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

    Schools Week

    Experts News - Results are in: Academy status works for the best and worst schools, but that's about it

    After years of debate over the effectiveness of academy status, the Education Policy Institute has now released data which it says shows the causal impact of academy status on school performance. Editor Laura McInerney explains what the researchers found.
    Does academy status lift performance in schools? It's a vital question given the country is spending millions changing schools into academies. So far there had been no answer. But a new report, commissioned by the Education Policy Institute and published today, finally provides some.
    To start with the conclusions:
    1. It seems that Labour forcing badly performing schools to become academies before 2012 was a good thing.
    Hurray for Labour.
    2. It also seems that, after 2010, letting outstanding schools convert into becoming academies was also a good thing.
    Well done the Coalition.

    BUT
    3. For everyone else after 2010, becoming an academy doesn't seem to have had much effect. In fact, it might have made things a tiny bit worse.

    So, why is there a difference between pre-2010 and post-2010 academies?

    This article was published online by Schools Week on July 12, 2016
    Link to article here

    Related links
    Olmo Silva webpage
    Andrew Eyles webpage
    Gabriel Heller-Sahlgren webpage
    Stephen Machin webpage
    Matteo Sandi webpage
    Education and Skills Programme webpage



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

    Tim Harford - The Undercover Economist blog

    Did economists fail us over Brexit?

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

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

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

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

    Related links
    John Van Reenen webpage
    Growth Programme webpage



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

    VOX

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

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

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

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

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



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

    Washington Post

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

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

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

    Related Links
    Ralph Martin webpage
    Mirabelle Muuls webpage
    Growth webpage

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

    Belfast Telegraph

    Economists oppose George Osborne's corporation tax cuts crusade

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

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

    Related Links
    John Van Reenen webpage
    Growth webpage

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

    The Independent

    'No evidence' academy status improves grades at good or satisfactory schools

    New research has found ''no evidence'' that academy status leads to better grades for pupils at schools rated good or satisfactory. The study, by the London School of Economics and the Education Policy Institute (EPI), found pupils' performance at schools already rated outstanding when they converted, totalling 390 institutions, saw a ''statistically significant'' rise in grades. The research also found that Coalition-era academies had a lower impact on performance than the Labour-style sponsored academies, which were introduced in 2002 to help struggling schools.

    This article was published by The Independent on July 12, 2016
    Link to article here

    Related links
    Olmo Silva webpage
    Andrew Eyles webpage
    Gabriel Heller-Sahlgren webpage
    Stephen Machin webpage
    Matteo Sandi webpage
    Education and Skills Programme webpage



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

    The Independent

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

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

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

    Related Links
    John Van Reenen webpage
    Growth webpage


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

    FT.com

    Consumers are bearing the extra cost of living wage

    Researchers at the Centre for Economic Performance have also found that the NLW reduced the perceived profitability of firms in low-paying sectors. The stock market valuations of low wage firms — such as JD Wetherspoon, Next and the Mitie Group — fell significantly when the NLW policy was unexpectedly announced in July 2015.

    This article appeared on the FT.com on 11 July 2016. Link to article

    Related Publications
    The Elusive Employment Effect of the Minimum Wage Alan Manning, May 2016 Paper No' CEPDP1428

    Related Links
    Alan Manning webpage
    Community programme webpage

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

    The Scotsman

    Bill Jamieson: Secret report makes you choke on the canapes

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

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

    Related publications
    The UK Treasury analysis of 'The long-term economic impact of EU membership and the alternatives': CEP Commentary, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis Series No.4, April 2016
    See the complete set of CEP Brexit Analysis research papers here

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



    News Posted: 09/07/2016      [Back to the Top]

    Money Control.com

    A job in UK that no man wants, but two women do

    As John Van Reenen, the Director of the Centre for Economic Performance at the London School of Economics told CNBC, "You get a rabbit-in-the-headlights phenomenon where businesses don't want to make new decisions, or new investments, because they are uncertain about the future. The immediate effect will be lowering of investment activity, a lowering of hiring. There will be an immediate slowdown of growth."

    This article appeared on Money Control.com on 9 July 2016. Link to article

    Related links
    John Van Reenen webpage
    Growth Programme webpage

    News Posted: 09/07/2016      [Back to the Top]

    CVER News

    CVER Discussion Paper Published

    Post-16 education and training is still socially and academically divided, research shows
    Thousands of 16 year-olds are stuck in an educational ‘revolving door,’ returning year after year to study low-level qualifications.
    And apprenticeships are still failing to attract sufficient numbers of better-off, better-qualified applicants, according to research published today from the Centre for Vocational Education Research (CVER) at the London School of Economics.

    "Post-Compulsory Education in England: Choices and Implications" by C. Hupkau, S. McNally, J. Ruiz-Valenzuela, and G. Ventura, CVER Discussion Paper 001

    News Posted: 08/07/2016      [Back to the Top]

    The Sydney Morning Herald

    We've hit peak panic – but the economy is still ticking over

    But how worried should we be that political and financial uncertainty will feed through into the real economy? Stanford University economist Nicholas Bloom has been studying the impact of uncertainty on economies over the past decade and believes there is a link. He and colleagues have produced a neat set of "uncertainty trackers" for several countries that track mentions in articles of "uncertainty" or "uncertain" combined with references to the economy. The uncertainty index in Britain hit a record high during the Brexit debate and is at double the level of the Global Financial Crisis.

    This article appeared in The Sydney Morning Herald on 8 July 2016. Link to article

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


    Related links
    Nicholas Bloom webpage
    Growth Programme webpage

    News Posted: 08/07/2016      [Back to the Top]

    Newsweek - Europe

    Brexit: The characteristics of areas that voted leave in EU Referendum

    Article by Monica Langella and Alan Manning
    This article reports the result of an exercise in which the vote share for Leave in the 380 areas of England, Wales and Scotland are regressed on a variety of area characteristics largely drawn from the census for 2011 and earlier decades. These characteristics are for the population as a whole - not for those eligible to vote (British citizens), registered to vote and actual voters in the referendum. Nevertheless the variables we use can explain 90 percent of the variation in the vote share across areas.

    This article was published by Newsweek - Europe on July 7, 2016
    Link to article here

    Related article
    This article was originally published in the London School of Economics and Political Science British Politics and Policy Blog on July 6, 2016.
    Read the original article.

    Related links
    Monica Langella webpage
    Alan Manning webpage
    Community Programme webpage



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

    Independent.IE (Ireland)

    Capital needs cheaper homes, not higher debts

    There is another house price bubble under way in the Dublin area. Notwithstanding the efforts by the Central Bank to keep mortgage credit under control, some extraordinary prices have been quoted recently for the small parcels of land that become available. ...
    Two researchers at the London School of Economics, Christian Hilber and Wouter Vermeulen, have just released a paper in The Economic Journal looking at the development of house prices in the United Kingdom in recent decades and the role played by planning restrictions.

    This article was re-published online by the Independent.ie (Ireland) on July 7, 2016. It was originally published on 17/04/2016.
    Link to article here

    Related article
    April 10, 2016
    Vox
    Regulation is to blame for England's surge in house prices, Christian Hilber and Wouter Vermeulen

    Related publications
    The Impact of Supply Constraints on House Prices in England, C. A. L. Hilber and Wouter Vermeulen, Economic Journal 126(591): 358–405, March 2016.
    The Impact of Supply Constraints on House Prices in England, Christian A. L. Hilber and Wouter Vermeulen, Urban Programme [SERC] Discussion Paper No.119, September 2012

    Related links
    Christian Hilber webpage
    Urban Programme webpage



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

    greenreport.it (Italy)

    Brexit, cause e conseguenze demografiche viste dall'Italia

    Confusion reigns
    ... belonging to Europe forced Britain to accept internal migratory movements, students, workers, entrepreneurs, family. Between 1995 and 2015, the number of foreigners from other EU countries increased from 0.9 to 3.3 million; at the latter date, 29 percent were Polish, 13 percent Irish, and then with decreasing rates from 7 to 5 percent, Lithuanians, Romanians, Italians, Portuguese, French, German and Spanish. ... the educational level is higher on average. The immigration of Europeans has made a leap in 2004 (with the arrival in Europe of 10 new countries, including Poland), followed by a decline with the onset of the crisis in 2007.

    This article published by greenreport.it (Italy) on July 6, 2016 cites research by the Centre for Economic Performance
    Link to article here

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

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

    News Posted: 06/07/2016      [Back to the Top]

    Planning and Building Control Today

    The UK planning system - fit for purpose?

    Article by Christian Hilber
    In the first of a two-part article discussing the British planning system, Christian Hilber, Associate Professor of Economic Geography at the London School of Economics, argues that the UK planning system has serious flaws and delivers benefits only at excessively high costs, mainly hurting the young.

    There is no denial: the UK faces a serious housing affordability crisis. This crisis is not a short-term phenomenon, nor the result of a financial bubble. The crisis has been brewing for several decades. Over the last 45 years, house price growth in the UK has been faster in real terms than in any other OECD country and has far outstripped earnings growth. Normally when demand is rising, construction booms as well and that eases price growth. This has not happened in the UK; construction of new housing has been decreasing more or less steadily since the late 1960s from 353k units in 1968 to 118k units in 2014, leading to a very substantial and ever-growing housing shortfall. Not only that; newly built homes are also about 40 percent smaller than in similarly densely populated European countries.

    In the Greater London Area (GLA) the problem is particularly acute. To illustrate this, the average house price in the GLA has gone up by £65.2k year-on-year since March 2015. The latest average household income estimate for the capital for 2013 is £51.8k. Put differently, last year, the average London homeowner earned more from capital gains than a renter from working all year long. It is, therefore, no surprise that young adults without wealthy parents are increasingly priced out from getting onto the owner-occupied housing ladder. Renting in the private sector is similarly unaffordable, so the young - even the highly skilled - increasingly have no other option but to stay at their parents' home longer or leave the city. Consistent with this, the share of those employed in inner London working in professional scientific, research, engineering and technology jobs has fallen since 2011, hurting the capital's productivity. The housing affordability crisis is an economic as well as a social problem.

    This article was published by Planning and Building Control Today on July 6, 2016
    Link to article here

    Related links
    Christian Hilber webpage
    Urban Programme webpage
    Christian Hilber CEP Publications webpage



    News Posted: 06/07/2016      [Back to the Top]

    LSE British Politics and Policy blog

    Who voted Leave: the characteristics of individuals mattered, but so did those of local areas

    Individual demographics had a huge effect in determining the outcome of the referendum, but the characteristics of local areas mattered as well, explain Monica Langella and Alan Manning. Immigration, the decline in manufacturing and in other sectors, as well as politics, all played an important role in deciding the outcome.

    The UK's vote to leave the EU on 23 June has induced much speculation about the factors behind people's decision. From opinion polls (e.g. the Ashcroft Polls) we know that the old and the less educated were more likely to vote Leave. But it's likely that voting was not just determined by individual characteristics but by those of local areas. Indeed, the main hypotheses put forward for the Leave vote are that it represents the reaction of those who have been left behind because of globalization (as Gordon Brown argued) or immigration.

    This article reports the result of an exercise in which the vote share for Leave in the 380 areas of England, Wales and Scotland are regressed on a variety of area characteristics largely drawn from the census for 2011 and earlier decades. These characteristics are for the population as a whole - not for those eligible to vote (British citizens), registered to vote and actual voters in the referendum. Nevertheless the variables we use can explain 90 per cent of the variation in the vote share across areas.

    This article was published by the LSE British Politics and Policy blog on July 6, 2016
    Link to article here

    Related links
    Monica Langella webpage
    Alan Manning webpage
    Community Programme webpage



    News Posted: 06/07/2016      [Back to the Top]

    Financial Times

    Did economists fail us over Brexit?

    John van Reenen, the outgoing director of the LSE’s Centre for Economic Performance, doesn’t think the profession should be too down on itself. “I’m proud of what we did,” he says, and had economists engaged more “in my frank view, it would not have made a jot of difference.”

    This article appeared in the Financial Times on 6 July 2016. Link to article

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

    Related links
    John Van Reenen webpage
    Growth Programme webpage


    News Posted: 06/07/2016      [Back to the Top]

    City A.M.

    George Osborne and the government share some of the blame for post-Brexit uncertainty

    "Businesses and markets hate uncertainty." How many times have we heard that recently? In the aftermath of the referendum result, when the value of the pound fell and the FTSE 100 and 250 indices contracted, "uncertainty" was the buzzword. This suggests that the market reaction was a manifestation of investors asking the question: "what is the plan?" Yet much business activity is by its nature uncertain. New products or expansion can be researched, but firms constantly take risks. Likewise in investments. No, business and markets do not hate uncertainty per se. What they do not like is policy uncertainty, as the work of the economist Nicholas Bloom has shown. His index of uncertainty for the UK, tracking the use of the words "economic", "policy" and "uncertainty"  in newspaper articles, increased significantly before the referendum.

    This article appeared in City AM on 5 July 2016. Link to article

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

    Related links
    Nicholas Bloom webpage
    Growth Programme webpage

    News Posted: 05/07/2016      [Back to the Top]

    Kellog Insight

    Why income inequality among white collar workers is growing

    Rising income inequality in the U.S. may seem like a 21st-century preoccupation, as workers agitate to ''occupy Wall Street'' from the left and to ''make America great again'' from the right. But the wage gap separating high-income Americans from everyone else has actually been growing since the late 1970s, even as nationwide productivity and overall wages have risen.

    Traditionally, economic explanations of this trend have fallen into two categories. Some assign responsibility to policies - for example, claiming that changes in tax policy in the 1980s and early 2000s increased earnings inequality. Others assign responsibility to changes in the supply and demand for labor - for example, arguing that the long shift in the U.S. economy from manufacturing to services may have boosted the demand for skilled workers relative to unskilled workers.

    Thomas Hubbard, a professor of strategy at the Kellogg School, has a different idea. In two research papers coauthored with Luis Garicano of the London School of Economics, Hubbard makes a case that in addition to tax policy and labor-market shifts, organizational efficiencies have played a role in widening the income gap.

    This article was published online by Kellog Insight (USA) on July 5, 2016
    Link to article here

    Related publications
    Organization and Inequality in a Knowledge Economy, Luis Garicano and Esteban Rossi-Hansberg, The Quarterly Journal of Economics (2006) 121 (4): 1383-1435 doi: 10.1093/qje/121.4.1383
    Knowledge-based Hierarchies: Using Organizations to Understand the Economy, Luis Garicano and Esteban Rossi-Hansberg, Centre for Economic Performance Occasional Paper No.43, October 2014

    Related links
    Luis Garicano webpage
    Growth Programme webpage



    News Posted: 05/07/2016      [Back to the Top]

    CMI (Chartered Management Institute)

    Apprenticeships: The industrious revolution

    A new breed of apprenticeship is offering employers a way to accelerate and keep top talent
    Petra Wilton, CMI's director of strategy and external affairs, says the degree apprenticeships will help to meet expected demand for one million more managers by 2020 and raise professional skills. CMI says four out of five UK bosses are 'accidental managers', who are promoted on the basis of their expertise in their job, but have little training in managing a team or a department. ''This programme is, for the first time, giving funding and legitimacy to driving high-level skills and linking it to professional registration and recognition,'' Wilton says. ''It's a transformational step for the government to recognise this across a broader range of disciplines.'' CMI also hopes to introduce a Masters Degree Apprenticeship (level 7) and programmes at level 3 (team leader) and level 5 (operations manager). Wilton sees weaknesses in leadership and management as a factor behind the UK's poor productivity performance. A team of academics including John Van Reenen, director of the Centre for Economic Performance at the London School of Economics, interviewed 14,000 employees around the world and found that British workers rated their supervisors lower than those in countries such as the US, Germany and Japan.

    This article was published by CMI (Chartered Management Institute) on July 5, 2016
    Link to article here

    Related links
    John Van Reenen webpage
    Growth Programme webpage
    Management Practices and Organisational Structures Research webpage



    News Posted: 05/07/2016      [Back to the Top]

    World Folio Blog

    BREXIT: Regional integration and preventing the next Italeave and Fradieu

    International organizations like IMF and the OECD along local English institutions such as the Bank of England, the British Treasury, and the Center for Economic Performance have issued separate reports on the downside of separation, agreeing on the fact that leaving the EU would be an economic net negative for the UK and would immerse the country in an immediate recession.

    This article appeared in World Folio Blog on 5 July 2016. Link to article

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

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


    News Posted: 05/07/2016      [Back to the Top]

    The Interpreter (Australia)

    Will a hung parliament bring economic uncertainty, and how damaging is that?

    After the Australian election, and after Brexit, learned authorities in dark suits are shaking their heads. 'Times are especially uncertain', is their grave assessment. It begs the question: when are times especially certain? But I digress. That financial markets hate uncertainty seems quite plain. You just need to look at the reaction after Brexit. But what about the wider economy? The last decade has seen an explosion in research on the effects of uncertainty. Nicholas Bloom of Stanford University has been one of the most important drivers of this research agenda. In a series of papers, Bloom has thrown the gamut of statistical and modelling machinery at the topic. The verdict? Uncertainty shocks can be important. In response to uncertainty shocks, firms delay investment and hiring decisions. It is relatively costless for firms to delay these decisions until the uncertainty resolves itself. What is good for the firm, however, is bad for the economy. Less investment and fewer jobs is the result; the economy enters a downturn

    This article appeared in the Interpreter (Australia) on 4 July 2016. Link to article

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

    Related links
    Nicholas Bloom webpage
    Growth Programme webpage

    News Posted: 04/07/2016      [Back to the Top]

    Daily Telegraph

    Take the path to healthy weight loss

    Another from the London School of Economics found that people who regularly walked briskly for half an hour or more had smaller waists than those who went to the gym or did tougher sports such as jogging and rugby.

    This article appeared in the Daily Telegraph on 4 July 2016 Link to article

    Related Links
    Grace Lordan webpage
    Wellbeing Programme webpage

    News Posted: 04/07/2016      [Back to the Top]

    The Sunday Leader (Sri Lanka)

    The good, the bad and the ugly of Brexit

    Overall, Brexit is likely to have a negative impact on inward FDI. New empirical analysis by Center for Economic Performance implies that leaving the EU will reduce FDI inflows to the UK by around 22 per cent. Such losses of investment will damage UK productivity and could lower real incomes by 3.4 per cent. This is larger than our estimates of the static income losses from trade, which are 2.6 per cent even under our 'pessimistic scenario' (Dhingra et al, 2016). Case studies of cars and finance also show that Brexit would lower EU-related output of goods and services, and erode the UK's ability to negotiate concessions from regulations on EU related transactions.

    This article was published online by The Sunday Leader (Sri Lanka) on July 3, 2016
    Link to article here

    Related publications
    The consequences of Brexit for UK trade and living standards, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis Series Paper No.02, March 2016
    See Technical Appendix to CEP Brexit Analysis Series Paper No.2 here

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



    News Posted: 03/07/2016      [Back to the Top]

    BBC World Service

    The Road to Brexit, In the Balance

    Thomas Sampson, economist at the London school of economics, joins a panel discussion

    This programme was broadcast on BBC World Service on 2 July 2016. Link

    Related publications
    Full series of CEP Brexit Analyses can be seen here

    Related Links
    Thomas Sampson webpage
    Trade Programme webpage

    News Posted: 02/07/2016      [Back to the Top]

    Royal Economic Society Newsletter

    Conference Report 2016

    The Society's Annual Conference was held at the University of Sussex, 21-23 March. This report was prepared by Ferdinando Giugliano, focusing on four fields of economic research: development economics; political economy; labour economics and macroeconomics.
    Development Economics
    In a separate session, there was one other interesting piece of work on development economics. A paper by Marco Manacorda and Andrea Tesei (both Queen Mary, University of London) looked at the role played by mobile phones in protests in Africa. It tests the widely-held hypothesis that mobile phones have acted as 'liberation technology', helping citizens who are dissatisfied with their governments to mobilise against them. The two authors find that on average mobile phone coverage does not lead to more protests. However, during a downturn, the spread of mobile phones is associated with more episodes of organised political discontent. One hypothesis is that portable devices make individuals better informed about the state of the economy. Technology may therefore allow the channelling of discontent when this is caused by some external factor, such as a recession.
    Political Economy
    John Van Reenen and Swati Dhingra (both LSE) presented a study from the Centre for Economic Performance looking at the costs of Brexit. They found that this could be between 1.3 per cent and 2.6 per cent of gross domestic product just from a simple static model that only looks at trade. However, the cost could rise to between 6.3 per cent and 9.5 per cent of GDP if the dynamic, long-term losses are included. While these estimates are obviously imperfect, their central finding that Britain would suffer non-trivial losses in case of exit appears hard to rebut.
    Labour Economics
    Stephen Machin (UCL, LSE) showed that in the UK the minimum wage has gone up since its introduction in 1999 by more than the average wage. Still, this increase has had no significant detrimental effects on employment. However, the introduction of the new 'living wage' announced by George Osborne this year poses significant challenges. The new minimum wage will be set at £7.20 an hour this year and will rise to £9 an hour by 2020, lifting the coverage of the living wage substantially. The question is therefore whether this new, higher, floor will have significant effects on employment and profits. The Office for Budget Responsibility only forecasts a reduction of around 60,000 jobs. Conversely, the value of shares of low-wage companies fell rather significantly on the day of Osborne's announcement, offering provisional evidence that profits may fall in the future. Machin has looked at the company accounts published since the announcement finding that, indeed, most companies plan to take a hit on profits. However, there may still be an adjustment in terms of employment for those companies that earn little or no profits at all, for example, care homes.

    This Conference Report was published by The Royal Economic Society in its July Newsletter
    Link to the Report here

    Related publications
    Liberation Technology: Mobile Phones and Political Mobilization in Africa, Marco Manacorda and Andrea Tesei, Centre for Economic Performance Discussion Paper No.1419, March 2016
    BREXIT 2016: Policy Analysis from the Centre for Economic Performance, Holger Breinlich, Swati Dhingra, Saul Estrin, Hanwei Huang, Gianmarco Ottaviano, Thomas Sampson, John Van Reenen and Jonathan Wadsworth, CEP Brexit Analysis Series Paper No.08, June 2016

    Related links
    Swati Dhingra webpage
    Stephen Machin webpage
    Marco Manacorda webpage
    John Van Reenen webpage
    Growth Programme webpage
    Labour Markets Programme webpage
    Trade Programme webpage



    News Posted: 01/07/2016      [Back to the Top]

    Internazionale

    Come cambiano le regole per gli immigrati dopo la Brexit

    For many it is a windfall: according to the research of the Centre for Economic Performance, a research centre, EU migrants are more likely, compared to the local population, to have received a university education or to have a job, and you are less likely to require public subsidies.

    This article was published online by Internazionale (Italy) on July 1, 2016
    Link to article here

    Related publications
    Why immigration is no reason to leave the EU, Swati Dhingra, Gianmarco Ottaviano, John Van Reenen and Jonathan Wadsworth. Article in CentrePiece Volume 21, Issue 1, Summer 2016
    Brexit and the Impact of Immigration on the UK, Swati Dhingra, Gianmarco Ottaviano, John Van Reenen and Jonathan Wadsworth, CEP Brexit Analysis Paper No.05, May 2016

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



    News Posted: 01/07/2016      [Back to the Top]

    Time

    The worst of the Brexit fallout is still to hit the UK

    John Van Reenen, head of the Centre for Economic Performance at the London School of Economics, said that Britain's Brexit decision will have both short-term and long-term consequences. ''There is a lot of uncertainty about the new arrangements, which will lead to less investment, slower growth, lower pay and higher unemployment. In the long run, we will not have the same access to the European single market, which will mean lower exports, less foreign investments. It will mean that we are all poorer.''

    This article was published by Time magazine online on July 1, 2016
    Link to article here

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

    Related links
    John Van Reenen webpage
    Growth Programme webpage



    News Posted: 01/07/2016      [Back to the Top]

    LSE Business Review

    Taking a bit longer to do your shopping can save you money

    Big data shows you can save up to $11 per shopping trip, argue Fabio Pinna and Stephan Seiler
    Most of us are familiar with the experience of scouring supermarket shelves to find the items we want at the right price - but how effective are we at converting the time spent looking for a particular product into monetary savings? Our research seeks to measure the benefits of consumer search by studying the behavior of around 12,000 shoppers visiting a large supermarket in Northern California. Our results show that shoppers who search for longer find cheaper products, and are thus rewarded with cost savings.

    This article was published by LSE Business Review on July 1, 2016
    Link to article here

    Related publications
    In brief... Bargain hunters: calculating the benefits of consumer search, Fabio Pinna and Stephan Seiler. Article in CentrePiece Volume 21, Issue 1, Summer 2016
    Consumer Search: Evidence from Path-tracking Data, Fabio Pinna and Stephan Seiler, Centre for Economic Performance Discussion Paper No. 1296, September 2014

    Related links
    Stephan Seiler is a CEP Alumni. He is now Assistant Professor of Marketing at Stanford GSB
    Growth Programme webpage



    News Posted: 01/07/2016      [Back to the Top]

    World Politics Journal

    To Brexit or not to Brexit? That's not the question!

    Economists and political analysts have debated over the long-term effects of the vote on the future of the British economy. Prior to the referendum many warned that Brexit could have dire consequences for Britain, including losing access to European markets, which account for 48% of British exports, eventually leading to a drop in exports and ultimately, a recession. Many have discussed the economic turmoil and have suggested that investments would drop due to uncertainty. Leading up to the referendum, the Center for Economic Performance at the London School of Economics put out a research brief suggesting that exiting the EU would cause the British economy to suffer. The New York Times argued that the Brexit would make Britain poorer and Britain would become less productive. Others predicted a financial crisis.

    This article was published online by the World Politics Journal on June 30, 2016
    Link to article here

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

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



    News Posted: 30/06/2016      [Back to the Top]

    The Raconteur

    How to solve UK's productivity puzzle

    UK productivity languishes at the bottom of the G7 league table, 20 per cent lower than average, and falls behind many other Western countries. “The gap has always been there, but it’s worse since the financial crisis,” says Anna Valero, research economist in growth at the London School of Economics. “We are about 30 percentage points behind France, Germany and the US.”

    This article appeared in the Raconteur on 30 June 2016. Link to article

    Related links
    Anna Valero webpage
    Growth Programme webpage
    Anna Valero CEP publications webpage

    News Posted: 30/06/2016      [Back to the Top]

    Finyear (France)

    Brexit: quelles consequences pour les entreprises francaises?

    Customs return seems unlikely, according to a recent study (November 2015) of the Center for Economic Performance at the London School of Economics who bet on the establishment of a free trade agreement. ''However, an increase in the costs of at least 2 per cent trade appears inevitable, due to non-tariff barriers. However, if tariffs were to be reinstated, some French, but few companies could be tempted to settle locally in order to propose the ''Made in Britain'' and thus circumvent these fees. But the main consequence of the Brexit in the longer term, will be the weakening of the local market, ''estimated at 6 per cent by 2030 by the British Treasury''. Consequence: the French companies could revise downward their inclinations to anchor in this market. ''The final impact will depend on the decision of whether to maintain trade preferences between the continent and the United Kingdom, despite an exit from the EU'' concluded the study.

    This article was published online by Finyear (France) on June 29, 2016
    Link to article here

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

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



    News Posted: 29/06/2016      [Back to the Top]

    Canadian Press (French Edition) online

    Un vote pour la sortie du Royaume-Uni de l'UE aurait plusieurs conséquences

    But the Centre for Economic Performance at the London School of Economics sees lasting consequences: the separation of the United Kingdom would without a doubt have a negative impact on foreign direct investment, who themselves have effects on wages and productivity of the country. ''The United Kingdom would be permanently poorer if we were to leave the European Union'', says the report of the British Treasury.

    This article was published online by the Canadian Press (French edition) online, on June 29, 2016
    Link to article here

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

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



    News Posted: 29/06/2016      [Back to the Top]

    The Christian Science Monitor

    Why Brexit vote prompted Vodafone to contemplate leaving Britain

    Less than a week after Briton's voted to exit the EU, the worlds second largest telecom company [Vodafone] has announced it is considering moving its headquarters from London to mainland Europe.
    Vodafone's warning could perhaps foreshadow a possible shift in jobs and investments from Britain to the rest of the EU. ''It will be more a movement on the margins than big, discreet changes,'' Thomas Sampson, a professor at the London School of Economics (LSE) who specializes in international trade, growth, and development, tells The Christian Science Monitor a phone interview. ''We might see some companies like Vodafone relocating their headquarters. We might see others investing less in the UK,'' he adds, mentioning, as an example, a financial firm relocating jobs from London to Paris, Frankfurt, or other cities in the Eurozone.
    ''The UK [labor] market is highly dynamic and would adjust to these changed trade arrangements quickly,'' writes Ryan Bourne, the head of public policy at the London-based Institute of Economic Affairs think tank ...
    Swati Dhingra, Mr. Sampson's colleague and a lecturer at the London School of Economics, disagrees, telling the Monitor that Vodafone's concerns are symbolic of a larger trend. ''It says even service trade companies, or companies that we think of as advanced manufacturers, are the ones moving their headquarters somewhere else,'' she says in a phone interview Wednesday. ''That is the real concern for the UK. It's not bad jobs moving away. It's good jobs potentially moving away.''

    This article was published online by The Christian Science Monitor on June 29, 2016
    Link to article here

    Related publications
    Life after Brexit : What are the UK’s options outside the European Union?, Swati Dhingra and Thomas Sampson, CEP Brexit Analysis Series Paper No.01, February 2016
    The impact of Brexit on foreign investment in the UK, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis Series Paper No.03, April 2016
    Technical Appendix to CEP Brexit Analysis Series Paper No.03
    See the complete series of CEP Brexit Analysis papers here

    Related links
    Swati Dhingra webpage
    Thomas Sampson webpage
    Trade Programme webpage



    News Posted: 29/06/2016      [Back to the Top]

    LSE Business Review

    The UK suffers a shortage of nurses

    David Metcalf writes about the Migration Advisory Committee's review of the shortage occupation list
    The MAC recommends placing nurses on the country's 'shortage occupation list' or 'SOL': they are skilled, in shortage and - for a little while - it is sensible to add them. But we make this recommendation with considerable reluctance. It seems to us that the shortage is mostly down to factors that should have been anticipated by the Department of Health and related bodies. Furthermore, there seems to be an automatic presumption that non-EEA skilled migration provides the sector with a 'get out of jail free' card.

    This article was published online by the LSE Business Review on June 29, 2016
    Link to article here

    Related publications
    A shortage of nurses?, David Metcalf. Article in CentrePiece Volume 21, Issue 1, Summer 2016
    This article is based on the Migration Advisory Committee (MAC) report on nursing shortage

    Related links
    Professor Sir David Metcalf webpage
    Labour Markets Programme webpage



    News Posted: 29/06/2016      [Back to the Top]

    Quartz

    Charts: Half of the UK's foreign investment comes from the countries it just snubbed

    In the meantime, things look pretty bleak. Earlier this year a team from the London School of Economics estimated that leaving the EU will lead to a 22% decline in investment from abroad. (Other studies have projected both better and worse outcomes.) The supporting research focuses on the impact of leaving on the automobile manufacturing and financial industries.

    This article appeared on quartz on 29 June 2016. Link to article

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

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

    News Posted: 29/06/2016      [Back to the Top]

    GeVestor (Germany)

    Brexit: Top-Ökonomen sehen höhere Rezessionsgefahr

    Top-Okonomen wie John Van Reenen (London School of Economics) erwarten allein durch die Unsicherheit eine sofortige Abkuhlung des Wachstums.
    Top economists such as John van Reenen (London School of Economics) expect an immediate cooling of growth alone by the uncertainty.

    This article was published online by GeVestor (Germany) on June 28, 2016
    Link to article here

    Related Links
    John Van Reenen webpage
    Growth Programme webpage



    News Posted: 28/06/2016      [Back to the Top]

    Dagens Industri (Sweden)

    Ekonomiprofessor räknar med fortsatt fall

    ...resultatet av folkomrostningen. Gianluca Benigno, ekonomiprofessor vid London School of Economics, sager att han forst...
    ...the result of the referendum. Gianluca Benigno, economics professor at the London School of Economics, says that he first...

    This article was published online by Dagens Industri (Sweden) on June 28, 2016
    Link to article here

    Related Links
    Gianluca Benigno webpage
    Trade Programme webpage



    News Posted: 28/06/2016      [Back to the Top]

    The Times

    We economists must face the plain truth that the referendum showed our failings

    ... We could look at the superb work of John Van Reenen and colleagues at the London School of Economics(LSE), of Nick ...

    This article was published online by The Times on June 28, 2016
    Link to article here

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

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



    News Posted: 28/06/2016      [Back to the Top]

    Politico.eu

    'A midsummer night's nightmare' for European trade

    UK's EU exit will make transatlantic trade talks even tougher.
    ''There's every reason to believe that the right-wing lurch of Brexit could turn the U.K. into a paradise for free market capitalism: a TTIP on steroids,'' said Nick Dearden, the director of Global Justice Now. ...
    Swati Dhingra, assistant professor of economics at the London School of Economics, said such fears are not unwarranted. ''During a trade negotiation, when a smaller country negotiates with a bigger one, in this case the largest in the world, it often ends up conceding much more than it wants in order to be granted market access.''

    This article was published online by Politico.eu on June 28, 2016
    Link to article here

    Related publications
    The consequences of Brexit for UK trade and living standards, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis Series Paper No.02, March 2016
    To view all of the CEP Brexit Analysis Series, see here

    Related links
    Swati Dhingra webpage
    Trade Programme webpage



    News Posted: 28/06/2016      [Back to the Top]

    Newsweek

    Don't Believe the Brexit Prophecies of Economic Doom

    We were told that the consensus of economic experts were overwhelmingly opposed to a Brexit. Lauded institutions—from the IMF, OECD to the Treasury and London School of Economics—produced damning forecasts that ranged from economic hardship to total disaster if the U.K

    This article appeared in Newsweek on 28 June 2016. Link to article

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

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

    News Posted: 28/06/2016      [Back to the Top]

    9 News

    'Brexit' is here: What happens next

    The United Kingdom voted Thursday for a British exit — or "Brexit" — from the European Union. What happens now is "a leap into the unknown," according to a report on "Life After Brexit" by the London School of Economics

    This article appeared on 9 News on 28 June 2016. Link to article

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

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

    News Posted: 28/06/2016      [Back to the Top]

    Yahoo! Finance

    This is why Brexit will be a nightmare for the UK

    This arrangement “would not generate substantial fiscal savings for the UK government,” according to a recent analysis by the London School of Economics and Political Science.

    This article appeared on Yahoo! Finance on 28 June 2016. Link to article

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

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


    News Posted: 28/06/2016      [Back to the Top]

    Eurasia Review

    What now for Britain and EU? - Analysis

    The Prime Minister must now be regretting including the in/out referendum in his earlier election manifesto pledges to win over the far-right votes. Not taking lessons from the close call in the Scottish referendum, he gambled with the future of the country and lost, announcing he will step down. The public in the meantime were bombarded with polls and predictions of varying degrees of reliability. In a final attempt to highlight the economic dangers of Brexit, three top institutions - the National Institute of Economic and Social Research, Institute for Fiscal Studies and Centre for Economic Performance - released a joint statement on 21 June warning: ''A vote to leave the EU would almost certainly make us financially worse off compared with staying in the EU, quite possibly by a substantial amount.'' It seems that the majority of the British public chose to ignore the almost unanimous expert advice, with the belief that the UK can go it alone successfully, in a vote that truly went against the establishment.

    This article was published online by Eurasia Review on June 28, 2016
    Link to article here

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

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



    News Posted: 28/06/2016      [Back to the Top]

    Vox.eu

    Italy's productivity conundrum: The role of resource misallocation

    Many advanced economies have experienced a productivity slowdown in recent years. Italy, however, has been experiencing such a slowdown since the mid-1990s. This column provides a detailed analysis of Italy’s patterns of misallocation over this period. Firms in the Northern regions, as well as large firms, have experienced the sharpest increase in resource misallocation. To tackle the resulting productivity slowdown, reforms need to address unemployment benefits and higher education, as well as encouraging investment in intangible assets.

    This article appeared on Vox.eu on 28 June 2016 Link to article

    Related Links
    Fadi Hassan webpage
    Gianmarco Ottaviano webpage
    Trade Programme webpage


    News Posted: 28/06/2016      [Back to the Top]

    Daily News Egypt

    LuxLeaks, law and justice all part of tax scandal trial in Luxembourg

    The LuxLeaks papers clearly illustrate that Luxembourg’s most important export product is tax avoidance. That is why French economics researcher Gabriel Zucman says that Luxembourg is “the center of European tax evasion.” Zucman, who has lectured at the London School of Economics since 2014, describes the grand duchy as an “economic colony of the international financial industry.”

    This article appeared in Daily News Egypt on 28 June 2016. Link to article

    Related links
    Gabriel Zucman webpage
    Growth Programme webpage

    News Posted: 28/06/2016      [Back to the Top]

    BBC World News

    BBC Business Live

    Thomas Sampson discusses UK’s options for trade and access to single market.

    This programme was broadcast on BBC World News on 28 June 2016. Link

    Related publications
    Full series of CEP Brexit Analyses can be seen here

    Related Links
    Thomas Sampson webpage
    Trade Programme webpage

    News Posted: 28/06/2016      [Back to the Top]

    BBC Parliament

    Live House of Commons

    Reference to Gabriel Zucman’s research on tax havens

    This programme appeared on BBC Parliament on 28 June 2016. Link

    Related links
    Gabriel Zucman webpage
    Growth Programme webpage

    News Posted: 28/06/2016      [Back to the Top]

    BBC World Service

    Swati Dhingra interview

    Swati Dhingra discusses fall in Sterling, drop in GDP and recruitment freeze among companies as a result of Brexit

    This interview was broadcast on BBC World Service on 28 June 2016. Link

    Related publications
    Full series of CEP Brexit Analyses can be seen here

    Related links
    Swati Dhingra webpage
    Trade Programme webpage


    News Posted: 28/06/2016      [Back to the Top]

    Global Times

    China least affected by Brexit fallout

    Bai's opinion was echoed by Gianmarco Ottaviano, a professor at the London School of Economics and Political Science, who expects Chinese enterprises to transfer some of their investments from the UK to EU countries in the wake of the UK vote, according to domestic news portal hexun.com, citing the BBC.

    This article appeared in the Global Times on 28 June 2016. Link to article

    Related publications
    Full series of CEP Brexit Analyses can be seen here

    Related Links
    Gianmarco Ottaviano webpage
    Trade Programme webpage


    News Posted: 28/06/2016      [Back to the Top]

    The Huffinton Post - Korea

    Brexit will show what we have on the sheet

    British unemployment shows the transition graph of the influx immigrants. 2005-2010 immigrant unemployment rate is rapidly increased rather than fell. ©Jonathan Wadsworth, Center for Economic Performance. [Text with Figure 4: Unemployment of UK-born and EU immigration, 1975-2015, from CEP Brexit Analysis, Paper No.5, May 2016.]

    This article was published online by The Huffington Post - Korea on June 27, 2016
    Link to article here

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

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



    News Posted: 27/06/2016      [Back to the Top]

    Money Talk 1010AM

    How bad will Brexit get? Here's what top economists are saying

    In the months leading up to Britain's referendum on whether to leave the European Union, many economists warned over and over again that a ''Brexit'' could have awful ripple effects: Britain could lose its favorable access to European markets if it left; uncertainty could dry up business investment; the country could tumble into recession. On Thursday, British voters decided to vote ''Leave'' anyway. And now they're left to grapple with the consequences - including any economic turmoil that may follow. So how bad will leaving the EU be? Already on Friday, markets were plunging sharply around the world, suggesting major economic risks on the horizon. But economists have differing views on just what Brexit will mean - and exactly how dire it could get. Here's a running roundup from around the internet. John Van Reenen: ''There will be an immediate slowdown of growth''.

    This article was published online by Money Talk 1010AM on June 27, 2016
    Link to article here

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

    Related links
    John Van Reenen webpage
    Growth Programme webpage



    News Posted: 27/06/2016      [Back to the Top]

    Sinarharian (Indonesia)

    Brexit bakal cetus kesan domino

    Meanwhile, Director of the Center for Economic Performance at the London School of Economics, John Van Reenen tell Brexit will give a significant impact in the short-term period. ''Impending situation where business refuses to make a decision or new investment because future is still ambiguous. It will give immediate effects of investment activities, thus causing slow growth,'' he said.

    This article was published online by Sinarharian (Indonesia) on June 27, 2016
    Link to article here

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

    Related links
    John Van Reenen webpage
    Growth Programme webpage



    News Posted: 27/06/2016      [Back to the Top]

    The Economist - Buttonwood's notebook blog

    Britain faces Project Reality

    FRIDAY was the day when international markets absorbed the shock of the British vote to leave the European Union; a vote that few investors had anticipated. But today, market focus shifted back to the places where the vote is likely to have the biggest impact; on Britain and its European neighbours. ... And they are certainly right; it's not the moves in the markets, by themselves, that is important but what they signify for the economic outlook. Here is John Van Reenen of the LSE, writing for Vox:
    The reasons to expect lower national income when the UK leaves the EU are well-established: prolonged uncertainty, reduced access to the single market, and reduced investment from overseas. Each of these would be highly likely, and the overwhelming weight of evidence is that each would be damaging for the living standards of UK households. As a result of the decision to leave, we should expect to see:
    ''Lower real wages; a lower value of the pound - and hence higher prices for goods and services; higher borrowing, lower public spending, or higher taxes; in the short run, higher unemployment''.

    This article was published by The Economist - Buttonwood's notebook blog on June 27, 2016
    Link to article here

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

    Related links
    John Van Reenen webpage
    Growth Programme webpage



    News Posted: 27/06/2016      [Back to the Top]

    El Correo Gallego.es (Spain)

    No hay prisa para salir

    Parecidos resultados obtiene para los mismos escenarios el informe del Centre for Economic Performance de la London School of Economics
    In the three cases the fall of GDP in per cent, following the same order, would be 3.8, 6.2 and 7.5. Similar results obtained for the same scenarios the report of the Centre for Economic Performance of the London School of Economics.

    This article was published online by El Correo Gallego (Spain) on June 27, 2016
    Link to article here

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

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



    News Posted: 27/06/2016      [Back to the Top]

    SVT (Sweden)

    Brexit-oron slår hårt mot banktunga Sverige

    - Lehman-kraschen kom fran ingenstans, sager John Van Reenen, London School of Economics till New York Times. Det har ar som en tagolycka dar du kan se tagen komma mot varandra pa avstand men hoppas att de ska kunna styra undan.
    - the Lehman crash came from nowhere,'' said John Van Reenen, London School of Economics for the New York Times. This is like a train accident where you can see trains coming at each other from a distance but hope they will be able to steer clear.

    This article was published online by SVT (Sweden) on June 27, 2016
    Link to article here

    Related Links
    John Van Reenen webpage
    Growth Programme webpage



    News Posted: 27/06/2016      [Back to the Top]

    OECD Insights

    Did the OECD composite leading indicators see it coming?

    To some Professor Luis Garicano of the London School of Economics is a leading expert in the fields of productivity and industrial organisation, but to many he's the man Queen Elizabeth asked: ''Why did no one see it coming?'' ''it'' being the crisis. In retelling the story, Pr. Garicano pointed out that he welcomed the question as it provided an opportunity to cite many that did see it coming, including Messrs, Krugman and Volcker. Was the OECD among them?

    This article was published by OECD Insights on June 27, 2016
    Link to article here

    Related Links
    Luis Garicano webpage
    Growth Programme webpage



    News Posted: 27/06/2016      [Back to the Top]

    The Conversation

    Don't believe the Brexit prophecies of economic doom

    We were told that the consensus of economic experts were overwhelmingly opposed to a Brexit. Lauded institutions - from the IMF, OECD to the Treasury and London School of Economics - produced damning forecasts that ranged from economic hardship to total disaster if the UK leaves the EU.

    This article was published online by The Conversation on June 27, 2016
    Link to article here

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

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



    News Posted: 27/06/2016      [Back to the Top]

    Politico.eu

    ‘A midsummer night's nightmare' for European trade

    Swati Dhingra, assistant professor of economics at the London School of Economics, said such fears are not unwarranted. “During a trade negotiation, when a smaller country negotiates with a bigger one, in this case the largest in the world, it often ends up conceding much more than it wants in order to be granted market access.”

    This article appeared in Politico.eu on 27 June 2016. Link to article

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

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

    News Posted: 27/06/2016      [Back to the Top]

    News GD.com

    China least affected by Brexit fallout

    Bai's opinion was echoed by Gianmarco Ottaviano, a professor at the London School of Economics and Political Science, who expects Chinese enterprises to transfer some of their investments from the UK to EU countries in the wake of the UK vote, according to domestic news portal hexun.com, citing the BBC.

    This article appeared on News GD.com on 27 June 2016. Link to article

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

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


    News Posted: 27/06/2016      [Back to the Top]

    FT.com

    UK Economy: Brexit in seven charts - the economic impact

    Millions of words on the topic - including economists' majority view that leaving the bloc will slow growth and the Leave campaign's counterarguments that Britain will prosper - could be replaced by seven charts. These sum up the arguments over what breaking up with Brussels will really mean for jobs, growth and public finances.

    Do migrants reduce UK wages?
    The chart [chart sourced from the CEP Brexit Analysis Paper No.05] shows the change in the share of EU immigrants for every local area in the UK (left to right) and the change in local wage levels (up and down). There is no correlation, indicating that areas with high levels of immigration do not have lower wage growth. There is no indication that immigration reduces wages.

    This article was published by FT.com on June 27, 2016
    Link to article here

    Related publications
    Brexit and the Impact of Immigration on the UK, Swati Dhingra, Gianmarco Ottaviano, John Van Reenen and Jonathan Wadsworth, CEP Brexit Analysis Paper No.05, May 2016
    See Figure 9 on page 10 for sourced chart.

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


    News Posted: 27/06/2016      [Back to the Top]

    The Economist

    What happens to EU migrants in Britain

    ''IMMIGRATION, immigration, immigration'', shouted a headline in the Sun, a right-wing tabloid newspaper, the week that Britain voted to leave the European Union. It followed weeks of campaigning from the Leave side assuring voters that they would ''take back control'' and restrict EU migration if Britain left the club. Now that the referendum has just been won in favour of Brexit, what will happen to the EU migrants currently in Britain - and to British nationals living in the EU? Some 3m EU nationals live in Britain, compared with 1.2m Britons who live on the continent. The volume of EU migrants coming to Britain has increased since the club was expanded in 2004. Last year net migration from the EU was at a historic high, mostly because fewer Brits were moving abroad. Many consider this a boon: according to research from the Centre for Economic Performance, a think-tank, EU migrants are more likely to be university-educated, less likely to claim benefits and more likely to be in a job than the native-born population.

    This article was published online by the Economist on June 27, 2016
    Link to article here

    Related publications
    Why immigration is no reason to leave the EU, Swati Dhingra, Gianmarco Ottaviano, John Van Reenen and Jonathan Wadsworth. Article in CentrePiece Volume 21, Issue 1, Summer 2016
    Brexit and the Impact of Immigration on the UK, Swati Dhingra, Gianmarco Ottaviano, John Van Reenen and Jonathan Wadsworth, CEP Brexit Analysis Paper No.05, May 2016

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



    News Posted: 27/06/2016      [Back to the Top]

    Forbes Online

    Which Management Practices Are Most Beneficial To Firm Performance?

    Along with colleagues Nicholas Bloom, Stanford University, and John Van Reenen, London School of Economics, Sadun challenges this view in a new National Bureau of Economic Research working paper, Management as a Technology?

    This article appeared in Forbes on 27 June 2016. Link to article

    Related Publications
    Management as a Technology? Nicholas Bloom, Raffaella Sadun, John Van Reenen, June 2016 Paper No' CEPDP1433

    Related Links
    Nicholas Bloom webpage
    Raffaella Sadun webpage
    John Van Reenen webpage
    Growth webpage


    News Posted: 27/06/2016      [Back to the Top]

    El Tiempo (Spain)

    El incierto panorama para un reino que no esta unido

    John Van Reenen, Professor at the London School of Economics, said on Friday in an interview issued by the American channel CNBC that the companies ''will not want to take investment decisions because they have uncertainty about the future. The effect immediately will be a descent inverter and less employment. Those sectors more affected would be transport and IT industry manufacturing''.

    This article was published by El Tiempo (Spain) on June 26, 2016
    Link to article here

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

    Related links
    John Van Reenen webpage
    Growth Programme webpage



    News Posted: 26/06/2016      [Back to the Top]

    BBC Radio 4

    Swati Dhingra interview

    Dr Swati Dhingra discusses Brexit economic impact to households

    This programme was broadcast on 26 June 2016. Link

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

    Related links
    Swati Dhingra webpage
    Trade Programme webpage


    News Posted: 26/06/2016      [Back to the Top]

    Seeking Alpha

    The Consequences Of Brexit

    These numbers all point to a significant deterioration in the economy. In fact, it is a disaster for the U.K. as inflation will skyrocket (note that the British pound dropped 15% against gold in one day) and incomes could drop 2.3% according to a report issued by the Centre for Economic Performance at the London School of Economics.

    This article appeared on Seeking Alpha on 26 June 2016. Link to article

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

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


    News Posted: 26/06/2016      [Back to the Top]

    Belfast Telegraph

    EU Referendum: Northern Ireland household budgets likely to be hit by rise in food prices and higher taxation

    However, the London School of Economics expects the economy to be smaller by between 6.3% and 9.5% than if we stayed a member of the EU.

    This article appeared in the Belfast Telegraph on 26 June 2016. Link to article

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

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


    News Posted: 26/06/2016      [Back to the Top]

    The Independent

    Why did people really vote for Brexit? If we don't face the psychological reasons, we'll never bring Britain together

    Why did so many millions of people vote to leave the European Union? ... Some new research by the labour market economists Brian Bell and Stephen Machin, seen by The Independent, suggests the Leave vote tended to be bigger in areas of the country where wage growth has been weakest since 1997. This would seem to support the popular theory that this was essentially a giant protest vote against the political class by people who feel economically ''left behind'' in modern Britain.

    This article was published by The Independent on June 26, 2016
    Link to article here

    Related publications
    Brian Bell and Stephen Machin CEP publications webpage

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



    News Posted: 26/06/2016      [Back to the Top]

    BBC World Service - In the Balance

    UK votes to leave EU

    What does the UK's decision to leave the European Union mean for the future of the single market? Economists talk of sustained market turbulence, devaluations and an imminent recession, but will it be Britain or the EU suffering the worst effects long-term? And as eurosceptic political parties across the continent are buoyed by the UK's vote and call for their own referendums, what must the EU project itself do to survive? Ed Butler is joined by three guests from across the EU: Damien Lempereur from Debout La France, a political party which wants a French exit from the EU; Jens Zimmerman, a member of Germany's Social Democratic Party and part of Angela Merkels coalition government; and Swati Dhingra, from the London School of Economics.

    This programme was broadcast on the BBC World Service Radio - In the Balance programme on June 26, 2016
    Link to broadcast here [Swati Dhingra brought in to the interview 08:37]

    Related publications
    Full series of CEP Brexit Analyses can be seen here

    Related links
    Swati Dhingra webpage
    Trade Programme webpage



    News Posted: 26/06/2016      [Back to the Top]

    Tuoi Tre (Vietnam)

    Britain will lose thousands of financial industry jobs

    According to John Van Reenen, Director of the Center for Economic Performance who said: "the same phenomenon will occur as being ''dubious'' in a period when businesses don't like to take new decisions or new investments because they feel uncertain about the future. The immediate impact will slow investment, slow recruitment activities. There will also be a reduction in the growth of the UK''.

    This article was published by Tuoi Tre (Vietnam) online on June 25, 2016
    Link to article here

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

    Related links
    John Van Reenen webpage
    Growth Programme webpage



    News Posted: 25/06/2016      [Back to the Top]

    The STAT Media Blog

    Brexit leaves global markets in jitters

    In an interview to CNBC, John Van Reenen, director of the Centre for Economic Performance at the London School of Economics said the short-term impacts would be painful: ''You get a rabbit-in-the-headlights phenomenon where businesses don't want to make new decisions, or new investments, because they are uncertain about the future. The immediate effect will be a lowering of investment activity, a lowering of hiring. There will an immediate slowdown of growth,'' Reenen told the channel.

    This article was published online by The STAT Media blog on June 25, 2016
    Link to article here

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

    Related links
    John Van Reenen webpage
    Growth Programme webpage



    News Posted: 25/06/2016      [Back to the Top]

    PBS NewsHour

    What Brexit might do to the British economy

    Now that the UK has voted to leave the EU, one of the biggest remaining questions is how it will affect the British economy. Hari Sreenivasan sits down with London School of Economics professor Swati Dhingra, who has been studying the potential effects since the referendum was announced last year, to discuss.

    This interview was broadcast by PBS NewsHour (United States) on June 25, 2016
    Link to broadcast on YouTube here

    Related publications
    Life after Brexit : What are the UK's options outside the European Union?, Swati Dhingra and Thomas Sampson, CEP Brexit Analysis Paper No.01, February 2016
    Full series of CEP Brexit Analyses can be seen here

    Related links
    Swati Dhingra webpage
    Trade Programme webpage



    News Posted: 25/06/2016      [Back to the Top]

    politics.co.uk

    No more excuses: stand up for immigrants

    Labour MPs now walk around saying that immigration reduces domestic wages, that the rich man has got a cheaper plumber, but the indigenous plumber has had to reduce his fees. Usually this argument is framed as an assault on the 'white working class', as if we don't have any black or Indian or Pakistani or Bangladeshi working class people in this country. Well that's a lie too. We have no idea if immigration reduces wages and in fact many studies show it does the precise opposite. PwC research suggests it raises the median income by 0.7%. LSE found areas with high immigration did not have lower wage growth.

    This article was published online by politics.co.uk on June 25, 2016
    Link to article here

    Related news article
    EU migrants have no negative effect on UK wages, says LSE’, The Guardian, 11 May 2016

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

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



    News Posted: 25/06/2016      [Back to the Top]

    The Daily Dot

    Brits are Googling 'what happens if we leave the EU?' one day after voting to do exactly that

    Last night, as it became clear that Britain had voted to exit the European Union, Google Trends reported a 250 percent spike in searches for ''what happens if we leave the EU?''
    Markets are crashing around the world, Prime Minister David Cameron has resigned, and things have become uncertain for immigrants to the U.K. and U.K. citizens living abroad in the EU. And Scotland will likely take this opportunity to reconsider that whole independence question. How come nobody predicted this?
    Oh, wait, everybody predicted this.
    ''It's likely that Brexit (and what an ugly neologism it is) would lead to plummeting stock markets and an economic recession, with losses to GDP calculated by the Centre for Economic Performance at up to 9.5% - worse than the 2008 financial crisis,'' wrote Alex Preston in Guardian, more than a year ago. The article was headlined ''What would happen if Britain left the EU?'' and is one of the top Google results for the question.

    This article was published online by the Daily Dot on June 24, 2016
    Link to article here

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

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



    News Posted: 24/06/2016      [Back to the Top]

    LiveMint.com

    Time to clear Brexit's poisonous air

    According to an analysis, Brexit and the impact on immigration, published by the Centre for Economic Performance at the London School of Economics, EU immigrants are ''more educated, younger, more likely to be in work and less likely to claim benefits than the UK-born. About 44% have some form of higher education, compared with only 23% of the UK-born. About one-third of EU immigrants live in London, compared with only 11% of the UK-born''.

    This article was published online by LiveMint.com on June 24, 2016
    Link to article here

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

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



    News Posted: 24/06/2016      [Back to the Top]

    Katadata (Indonesia)

    Inggris Tinggalkan Uni Eropa, Pasar Keuangan Dunia Guncang

    The decision left the United Kingdom society of the European Union does indeed have fueled new uncertainty. ''Businessmen reluctant to take new decisions or affect investments, because of the uncertainty for the future,'' said the Director of the Centre for Economic Performance at the London School of Economics, John Van Reenen, as reported by the New York Times, Friday (24/6).

    This article was published online by Katadata News (Indonesia) on June 24, 2016
    Link to article here

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

    Related links
    John Van Reenen webpage
    Growth Programme webpage



    News Posted: 24/06/2016      [Back to the Top]

    La Izquierda Diario (Spanish)

    El Brexit, mala noticia para el segundo semestre

    First views on the global economic impact of such episode refer to one (even minor) world growth rate. Thus for example claimed John Van Reenen of the London School of Economics, who said the effect ''disincentive'' to investment by the immediate context of uncertainty generated by the Brexit.

    This article was published online by La Izquierda Diario (Spain) on June 24, 2016
    Link to article here

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

    Related links
    John Van Reenen webpage
    Growth Programme webpage



    News Posted: 24/06/2016      [Back to the Top]

    New York Times

    After 'Brexit' vote, investors are gripped by a panic last seen in 2008

    In crudest outlines, the panic that followed Britain's vote to quit the European Union traced the 2008 collapse of Lehman Brothers, an event that turned an unfolding financial crisis into the bleakest economic downturn since the Great Depression. The similarities hung uneasily over markets on Friday, presenting a grim question: How ugly might things get? ... ''Lehman came out of the blue,'' said John Van Reenen, director of the Center for Economic Performance at the London School of Economics. ''This is like a train wreck where you can see the trains coming together for a long distance and you're hoping the trains will swerve away.''

    This article was published by the New York Times on June 24, 2016
    Link to article here

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

    Related links
    John Van Reenen webpage
    Growth Programme webpage



    News Posted: 24/06/2016      [Back to the Top]

    Forbes Online

    The UK ditches the Establishment and come November we might too

    The parallels between Brexit backers and Trumps supporters is clear. Trump's campaign targets manufacturing towns across America, frequently expressing the need to reject globalism and put ''America first''. In Britain, there has been similar talk of finally putting the UK ahead of Europe from the Leave campaign. Both Trump's campaign and the Leave campaign promote economic protectionism and rile up fears of an immigrant invasion that would take away jobs and lead to freeloading off the social services system. It follows that it looks like citizens in the UK were willing to damage their economic stability in exchange for protectionist policies and more sovereignty. The Centre for Economic Performance analysis of Brexit predicts a 1.3%-2.6% fall in the average UK income, with the overall GDP dropping £26 to 55 billion.

    This article was published online by Forbes on June 24, 2016
    Link to article here

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

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



    News Posted: 24/06/2016      [Back to the Top]

    GoodtoKnow

    What leaving the EU could mean for you and your family

    ''You're going to see in increase in consumer prices from Brexit and most of that is going to hit the middle income,'' Swati Dhingra, assistant professor at LSE's Department of Economics and Centre for Economic Performance told Mashable. According to the Independent, initially the rises would be mostly hit imported goods - food and clothes being the most obvious - ''but inflation has a tendency to spread and to gain its own momentum,'' meaning overall costs on all of your purchases could go up.

    This article was published online by GoodtoKnow on June 24, 2016
    Link to article here

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

    Related links
    Swati Dhingra webpage
    Trade Programme webpage


    News Posted: 24/06/2016      [Back to the Top]

    Investors Chronicle

    Equities after Brexit

    Whenever share prices fall significantly investors should ask: is this because future dividends will be lower, or is it because risk aversion has increased?
    ... So, which of these explanations applies to the post-Brexit drop in UK shares? We have two reasons to hope the fall is temporary. One is simply that prices have fallen so far. As I write, the FTSE 250 is down by ten per cent since Thursday: this is a better gauge of domestically-oriented share prices than the FTSE 100, which is dominated by multinationals some of which have little exposure to the UK economy. This is greater than even the most pessimistic economists' assessment of the long-term impact of Brexit upon GDP - the Centre for Economic Performance's estimate of a nine per cent hit. (Most economists estimate the impact will be only around half this: the NIESR, for example, puts this cost at 2.7-3.7 per cent.)

    This article was published online by Investors Chronicle on June 24, 2016
    Link to article here

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

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



    News Posted: 24/06/2016      [Back to the Top]

    Le Monde

    Economie: Le revenue des plus pauvres des Britanniques pourrait perdre 12,5%

    Thomas Sampson, economiste a la London School of Economics, est coauteur d'une etude sur le cout du Brexit pour les menages britanniques.
    Thomas Sampson answers questions on the possible consequences of a vote for Brexit, put to him by the French Newspaper Le Monde.

    This article was published online by Le Monde - Economie - on June 24, 2016
    Link to article here

    Related publications
    BREXIT 2016: Policy Analysis from the Centre for Economic Performance, Holger Breinlich, Swati Dhingra, Saul Estrin, Hanwei Huang, Gianmarco Ottaviano, Thomas Sampson, John Van Reenen and Jonathan Wadsworth, CEP Brexit Analysis Paper No.08, June 2016

    Related links
    Thomas Sampson webpage
    Trade Programme webpage



    News Posted: 24/06/2016      [Back to the Top]

    BT.com

    Brexit: what's going to happen to our money now we're leaving the EU?

    Minford said that the economy would be more dynamic and more efficient now that we're out of the EU. Swati Dhingra disagreed, saying that the economy would suffer because of a shallower pool of talent from other EU countries. ''People come here young and able to work'', she said. Contrary to the red tape rhetoric, Dhingra says that Britain is one of the most regulation-free markets in the world - right up there with the USA and Canada.

    This article was published online by BT.com on June 24, 2016
    Link to article here

    Related publications
    Life after Brexit : What are the UK's options outside the European Union?, Swati Dhingra and Thomas Sampson, CEP Brexit Analysis Paper No.01, February 2016
    Full series of CEP Brexit Analyses can be seen here

    Related links
    Swati Dhingra webpage
    Trade Programme webpage



    News Posted: 24/06/2016      [Back to the Top]

    Good to Know

    What leaving the EU could mean for you and your family

    'You're going to see in increase in consumer prices from Brexit and most of that is going to hit the middle income,' Swati Dhingra, assistant professor at LSE's Department of Economics and Centre for Economic Performance told Mashable.

    This article appeared on Good to Know on 24 June 2016 Link to article

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

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

    News Posted: 24/06/2016      [Back to the Top]

    LoveMoney.com

    EU Referendum 2016: What will happen to your money now we've voted to Brexit?

    So we've decided to take a leap and vote to leave the EU. What is it going to mean for you and your money? We've voted. The decision has been made. We're out of the European Union, in a move that has triggered the Prime Minister's resignation. Where do we go from here? Both the Leave and Remain campaigns were very vocal about what would happen if we left the EU. Here's a look at what has already happened this morning, and what might lie ahead for your finances. ...
    Economists for Brexit's Patrick Minford said that Remainers were thinking about the departure in the wrong way: ''Osborne has false assumptions about what Brexit would be, condemning us to less free trade than we have at the moment,'' he said in the build-up to the referendum. ''EU firms will not like us leaving and selling into a market which is more competitive. It's time for our industries to adjust.'' Minford said that the economy would be more dynamic and more efficient now that we're out of the EU. Swati Dhingra disagreed, saying that the economy would suffer because of a shallower pool of talent from other EU countries. ''People come here young and able to work,'' she said. Contrary to the red tape rhetoric, Dhingra says that Britain is one of the most regulation-free markets in the world - right up there with the USA and Canada.

    This article was published online by LoveMoney.com on June 24, 2016
    Link to article here

    Related publications
    Full series of CEP Brexit Analyses can be seen here

    Related links
    Swati Dhingra webpage
    Trade Programme webpage



    News Posted: 24/06/2016      [Back to the Top]

    CNBC (USA)

    Turbulence and uncertainty for the market after 'Brexit'

    The world map has been redrawn with the rules of commerce across Europe, the largest marketplace on earth. Britain's vote on Thursday to leave the European Union has set in motion an unprecedented and unpredictable process that threatens turbulence and potential crisis - for Britain, for Europe and for the global economy. ... ''You get a rabbit-in-the-headlights phenomenon where businesses don't want to make new decisions, or new investments, because they are uncertain about the future,'' said John Van Reenen, director of the Centre for Economic Performance at the London School of Economics. ''The immediate effect will be a lowering of investment activity, a lowering of hiring. There will an immediate slowdown of growth.''

    This article was published online by CNBC (USA) on June 24, 2016
    Link to article here

    Also in
    The New York Times
    Turbulence and Uncertainty for the Market After 'Brexit'

    Related publications
    Full series of CEP Brexit Analyses can be seen here

    Related links
    John Van Reenen webpage
    Growth Programme webpage


    News Posted: 24/06/2016      [Back to the Top]

    TRT World (Turkish News Channel_

    Britain votes to leave EU in historic referendum

    Dennis Novy interviewed by Turkish TV News Channel, discussing the economic impact for the UK of the Brexit vote.

    This interview was broadcast by TRT World (Turkey) TV on June 24, 2016
    Link to the broadcast here

    See interviews also shown on:
    ANN7 (South African TV station): live phone interview
    Sky News Arabia

    Related links
    Dennis Novy webpage
    Trade Programme webpage



    News Posted: 24/06/2016      [Back to the Top]

    negocios (Portugal)

    Swati Dhingra: ''A Europa nao interessa um bom acordo com o Reino Unido em caso de Brexit''

    Swati Dhingra: ''Europe doesn't matter a good deal with the United Kingdom in the case of Brexit''
    The British economy will go down between 1.4% and 2.6% in pessimistic scenario. And life won't be made easier with having to negotiate an agreement with the European Union, says the Business Professor at LSE.

    This article was published by negocios (Portugal) on June 23, 2016
    Link to the article here

    Related publications
    See the complete CEP Brexit Analysis Series here

    Related links
    Swati Dhingra webpage
    Trade Programme webpage


    News Posted: 23/06/2016      [Back to the Top]

    Versus

    Brexit: comunque vada, l'incertezza e l'unica certezza

    Brexit: whatever happens, uncertainty is the only certainty
    Il LSE Centre for Economic Performance ha esaminato l'analisi economica del prof. Patrick Minford, celebre economista pro-Brexit, e l'ha bocciata senza appello. Riporto qui due commenti ben poco lusinghieri tratti dalla critica al lavoro di Minford pubblicata dal LSE Centre.
    The LSE Centre for Economic Performance, examined the economic analysis of prof. Patrick Minford, famous economist pro-Brexit, and he rejected without appeal.

    This article was published online by Versus on June 14, 2016
    Link to article here

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

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



    News Posted: 23/06/2016      [Back to the Top]

    The New York Times

    Turbulence and uncertainty for the market after 'Brexit'

    Few expect that Britain's departure from Europe will set off a full financial crisis like the one seen after the collapse of the investment banking giant Lehman Brothers in 2008. ... If no deal is struck, the rules of the World Trade Organization could apply. They give member nations the rights to impose potentially steep tariffs on imports, raising the possibility of a tit-for-tat trade skirmish between Britain and the Continent. In the meantime, the lack of clarity is likely to damage economic growth in Britain and beyond. ''You get a rabbit-in-the-headlights phenomenon where businesses don't want to make new decisions, or new investments, because they are uncertain about the future,'' said John Van Reenen, director of the Center for Economic Performance at the London School of Economics. ''The immediate effect will be a lowering of investment activity, a lowering of hiring. There will an immediate slowdown of growth.''

    This article was published by The New York Times on June 23, 2016
    Link to article here

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

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



    News Posted: 23/06/2016      [Back to the Top]

    RadioLIVE

    Brits vote on the Brexit tonight, polls have the result ''too close to call''

    Paul Henry talks with Adam Drummond, Opinium research manager, followed by Swati Dhingra, lecturer at the London School of Economics, on the Brexit. How are the polls looking, and what economical fallout could face the UK if Britain leaves the EU?

    This broadcast was made by RadioLive (New Zealand) on June 23, 2016
    Link to video broadcast here

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

    Related links
    Swati Dhingra webpage
    Trade Programme webpage


    News Posted: 23/06/2016      [Back to the Top]

    ABC News (Australia)

    Brexit would mean a UK recession, London School of Economics report finds

    Research by the London School of Economics in the report ''Life After Brexit'' is warning Britain would most likely fall into recession if it leaves, as a myriad of agreements unravel over several years. French launch #Operationcroissant Parisians arrive in London, bearing croissants and love letters to convince their neighbours to stay in the EU. The co-author of the report, Professor Swati Dhingra, was the latest to agree with warnings from the British Treasury that a Leave vote would be a shock to the UK economy and rattle global financial markets.

    This article was published online by ABC News (Australia) on June 23, 2016
    Link to article here

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

    Related links
    Swati Dhingra webpage
    Thomas Sampson webpage
    Trade Programme webpage


    News Posted: 23/06/2016      [Back to the Top]

    FT.com

    EU Referendum: economic message lost on voters

    By the end of the campaign, the heads of Britain's most respected economic think-tanks issued a joint statement, so worried were they that the message had failed to connect. Paul Johnson, head of the Institute for Fiscal Studies, Jagjit Chadha, director of the National Institute of Economic and Social Research and John van Reenen, head of the Centre for Economic Performance at the London School of Economics, said Brexit would ''almost certainly make us financially worse off compared with staying in the EU, quite possibly by a substantial amount''.

    This article was published online by FT.com on June 23, 2016
    Link to article here

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

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



    News Posted: 23/06/2016      [Back to the Top]

    The Financial Times

    UK areas with stagnant wages are most anti-EU

    A feeling of anger and frustration with the European Union is strongest in areas of Britain that have seen wages stagnate in recent years, according to research commissioned by the Financial Times. Two leading labour market economists, Brian Bell and Stephen Machin, found a statistically significant link between wage growth, or the lack of it, and the proportion of the vote secured by the anti-EU UK Independence Party in the 2015 general election.

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

    Related publications
    Brian Bell and Stephen Machin CEP publications webpage

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



    News Posted: 23/06/2016      [Back to the Top]

    Financial Buzz

    What are Brexit's real impacts?

    The whole world is eager to know the result of Brexit poll on Thursday. The result could have far economic consequences for the EU and the rest of the world. The greater consequences are more subtle, gradual, and global. Brexit would be the postwar of decades against global integration. This consensus is boosting protectionism and anti-immigrant world-wide. The uncertainties would slow down global growth clouded by aging populations and inefficient productivity. Although the supporters on Brexit say EU integration improves the incomes only for elites, every skilled worker is also a consumer and, therefore, benefits the whole British economy by making products better and cheaper to compete in the world market. As for the immigration policy, it's probably a plus as well. EU immigrants to Britain are better educated and diligent compared to UK-born workers, and immigrants normally pay more in taxes than they receive in benefits, according to The Center for Economic Performance at the London School of Economics.

    This article was published online by Financial Buzz on June 23, 2016
    Link to article here

    Related publications
    Brexit and the Impact of Immigration on the UK, Swati Dhingra, Gianmarco Ottaviano, John Van Reenen and Jonathan Wadsworth, CEP Brexit Analysis No.05, May 2016
    Full series of CEP Brexit Analyses can be seen here

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



    News Posted: 23/06/2016      [Back to the Top]

    CTV News Channel (Canada)

    Assessing Economic Impact of 'Brexit': EU Referendum in Britain Today

    Dennis Novy interviewed on live programme broadcast by Canadian TV news channel, focusing on the economic impact of a Brexit vote.

    This interview was broadcast by CTV News (Canada) on June 23, 2016
    Link to broadcast here Also interviewed by:
    Sky News Arabia
    Al Jazeera (live TV coverage throughout the night)

    Related links
    Dennis Novy webpage
    Trade Programme webpage



    News Posted: 23/06/2016      [Back to the Top]

    The Morning Star

    Brexit Watch: Cameron Pleads With Older Voters In Final Remain Push

    Meanwhile, the Institute for Fiscal Studies, the National Institute of Economic and Social Research and the Centre for Economic Performance issued a final joint warning that Britain will ''almost certainly'' be worse off outside the EU. The group said no economic question in their respective lifetimes had ever been subject to such blanket agreement among experts. The trio said ''almost all of those who have looked seriously at this issue'' were forecasting lower real wages, high prices for goods and services, higher borrowing costs and higher unemployment under a Brexit scenario.

    This article was published online by The Morning Star on June 22, 2016
    Link to article here

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

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



    News Posted: 22/06/2016      [Back to the Top]

    Snopes.com

    Impending Brexit vote to shape Britain's future

    If Brexit passes, Britain will change considerably: border controls may be enacted for Northern Ireland for the first time in nearly a century, immigration to the UK would be sharply curtailed, and Britain's economic structure would cease to be intertwined with the rest of EU member countries. Those who are for Brexit say that's important, because EU membership has so diluted British sovereignty and power. Those who are against it (or pro-Bremain) say that it's important to stay as a member of the European economic community. As the London School of Economics and Political Science noted, the UK would still have to deal with the rest of Europe, even if it left the EU.

    This article was published online by Snopes.com on June 22, 2016
    Link to article here

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

    Related links
    Swati Dhingra webpage
    Thomas Sampson webpage
    Trade Programme webpage



    News Posted: 22/06/2016      [Back to the Top]

    LSE United States Politics and Policy blog (USAPP)

    How some people can maximize their happiness even though they are not actively pursuing it

    Article by Marc Fleurbaey and Hannes Schwandt
    One of people's most important goals tends to be the pursuit of happiness. In a new survey which measures people's subjective well-being (another way of thinking about happiness), the authors find that 90 percent of people are seeking to maximize their subjective well-being, though they are willing to sacrifice some of this in the short term to benefit their families and for their long-term well-being, They also find that the actual subjective well-being of those who are working to maximize it is lower than those who are not, something that they attribute to both disadvantage of opportunity and sacrificing of well-being in the short term to help others and themselves in the future.

    This article was published online by the LSE United States Politics and Policy (USAPP) blog on June 22, 2016
    Link to article here

    Related publications
    Do People Seek to Maximize Their Subjective Well-Being?, Marc Fleurbaey and Hannes Schwandt, Centre for Economic Performance Discussion Paper No.1391, November 2015

    Related links
    Hannes Schwandt webpage
    Wellbeing Programme webpage



    News Posted: 22/06/2016      [Back to the Top]

    LSE British Politics and Policy blog

    Foreign investors love Britain - but Brexit would end the affair

    Foreign investment brings many benefits to the UK, including higher pay and productivity. But a Brexit vote could end it all, write Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen. First, not being in the single market will make the UK a less attractive export platform; second, multinationals have complex supply chains and costs which would be more difficult to manage if the UK left the EU; third, the uncertainty over the UK's trade arrangements after a Brexit will decrease its appeal.

    This article was published online by the LSE British Politics and Policy blog on June 22, 2016
    Link to article here

    Related publications
    The impact of Brexit on foreign investment in the UK, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis Series Paper No.03, April 2016
    Technical Appendix to CEP Brexit Analysis Series Paper No.03
    See the complete series of CEP Brexit Analysis papers here

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



    News Posted: 22/06/2016      [Back to the Top]

    Quartz

    A London without immigrants would not be London

    There is little evidence to support the former. Roughly 2.2 million EU nationals work in the UK, comprising 6.6% of the workforce, according to the FT report. Another report from the London School of Economics and Centre for Economic Performance found that while EU migration has increased and a third of EU migrants live in London, ''areas of the UK with large increases in EU immigration did not suffer greater falls in the jobs and pay of UK-born workers.'' Indeed, the authors noted that ''immigrants consume goods and services and this increased demand helps to create more employment opportunities.'' To assume otherwise is ''lump of labour fallacy'', the idea that the number of jobs in an area is fixed and immigrants push other job seekers out.

    This article was published online by Quartz on June 22, 2016
    Link to article here

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

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



    News Posted: 22/06/2016      [Back to the Top]

    TXFNews (Trade and Export Finance)

    How would Brexit affect UK trade?

    The UK Treasury's estimate forecasts trade volumes declining by between 14% and 19% by 2030 in comparison to their current trajectory, on the assumption that the UK agrees a bilateral trade deal with the EU similar to that recently agreed by Canada. Although, some believe this forecast a tad severe: Oxford Economics modelled the same scenario and came up with a 7% fall in volumes. The London School of Economics' Centre for Economic Performance predicts that, in the long term, lower trade with the EU could cost the UK as much as 9.5% of GDP.

    This article was published online by TXFNews on June 22, 2016
    Link to article here

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

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



    News Posted: 22/06/2016      [Back to the Top]

    Consultancy.uk

    Charles-Edouard Bouée reflects on the impact of a Brexit

    And while some experts argue that FDI is high in the UK due to a favourable business environment, others, such as the Centre for Economic Performance at the London School of Economics, suggest that ''being fully in the single market'' is what ''makes the UK an attractive export platform for multinationals as they do not face the potentially large costs from tariff and non-tariff barriers when exporting to the rest of the EU.''

    This article was published online by Consultancy.uk on June 22, 2016
    Link to article here

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

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



    News Posted: 22/06/2016      [Back to the Top]

    ProActiveInvestors

    10 ways Brexit will impact UK business

    The Institute for Fiscal Studies, the National Institute of Economic and Social Research and the Centre for Economic Performance have all predicted lower real wages in the event of Brexit, higher prices for goods and services, higher unemployment and higher borrowing costs. ''In our lifetimes we have never seen such a degree of unanimity among economists on a major policy issue'', the directors of the three institutions said in a joint statement released today.

    This article was published online by ProActiveInvestor on June 22, 2016
    Link to article here

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

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



    News Posted: 22/06/2016      [Back to the Top]

    Belfast Telegraph

    EU referendum: Think tanks unite to warn Brexit would damage UK

    A Leave vote in tomorrow's referendum would ''almost certainly make us financially worse off'' and could cut the UKs GDP by up to 8% - equivalent to £5,760 for every household in the country - a group of respected economic think tanks has warned.
    In a joint statement, the Institute for Fiscal Studies, National Institute of Economic and Social Research, and the Centre for Economic Performance said ''almost all those who have looked seriously'' at the consequences of Brexit agreed it would be highly likely to harm the UK's living standards.

    This article was published online by the Belfast Telegraph on June 22, 2016
    Link to article here

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

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



    News Posted: 22/06/2016      [Back to the Top]

    The Mail Online

    Michael Gove makes grovelling apology for comparing pro-EU experts to Nazi propagandists after Cameron accuses him of having 'lost it' during referendum battle

    In a dramatic escalation of Tory infighting earlier, Mr Cameron told Sky News: 'To hear the Leave campaign today sort of comparing independent experts and economists to Nazi sympathisers - I think they have rather lost it. 'These people are independent - economists who have won Nobel prizes, business leaders responsible for creating thousands of jobs, institutions that were set up after the war to try to provide independent advice. It is right to listen.' In a joint statement, three respected economic think-tanks have said 'almost all those who have looked seriously' at the consequences of Brexit agreed it would be highly likely to harm the living standards of UK households. The Institute for Fiscal Studies (IFS), National Institute of Economic and Social Research (NIESR) and Centre for Economic Performance (CEP) said: 'In our lifetimes we have never seen such a degree of unanimity among economists on a major policy issue.'

    This article was published by The Mail Online on June 22, 2016
    Link to article here

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

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



    News Posted: 22/06/2016      [Back to the Top]

    Sky News

    News at 10pm - EU: In or Out?

    Professor John Van Reenen, Director of the Centre for Economic Performance on panel discussing the economics of Brexit.

    The discussion was broadcast by Sky News at 10pm on June 22, 2016
    Link to broadcast here

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

    Related links
    John Van Reenen webpage
    Growth Programme webpage



    News Posted: 22/06/2016      [Back to the Top]

    Juice Brighton (Radio) - News P.M.

    Gove has 'lost it' over Nazi comparisons

    The Institute for Fiscal Studies (IFS), National Institute of Economic and Social Research (NIESR) and Centre for Economic Performance (CEP) ...

    This article was published online by Juice Brighton (Radio) on June 22, 2016
    Link to broadcast here

    Related publications

    Related publications
    Full series of CEP Brexit Analyses can be seen here

    Related links
    Holger Breinlich webpage
    Swati Dhingra webpage
    Saul Estrin webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Jonathan Wadsworth webpage
    Labour Markets Programme webpage
    Growth Programme webpage
    Trade Programme webpage



    News Posted: 22/06/2016      [Back to the Top]

    New Statesman

    Never mind a Brexit recession, Leave voters don't believe in climate change

    Facts appear not to be a major priority for many Leave voters. That is clear when you look at science. In a ComRes poll of 1,616 prospective voters, Leave supporters were revealed to be much more likely to question science, climate change and evolution. ... Drawing the line directly from science to the uncomfortable referendum debate we find ourselves in may not be clear cut. But the case of NHS statistics show the way people choose to judge - or not to judge - facts has everything to do with the referendum debate. After all, there is overwhelming consensus of the damage Britain could do to its economy by leaving the EU. There is evidence from the Bank of England, HM Treasury, the International Monetary Fund, the OECD, the National Institute of Economic and Social Research, PwC, Oxford Economics, the Centre for Economic Performance and others.

    This article was published online by the New Statesman on June 22, 2016
    Link to article here

    Related publications
    Full series of CEP Brexit Analyses can be seen here

    Related links
    Holger Breinlich webpage
    Swati Dhingra webpage
    Saul Estrin webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Jonathan Wadsworth webpage
    Labour Markets Programme webpage
    Growth Programme webpage
    Trade Programme webpage



    News Posted: 22/06/2016      [Back to the Top]

    The Wall Street Journal

    Brexit's real impact would be gradual and global

    The Center for Economic Performance at the London School of Economics finds that EU immigrants to Britain are better educated and more likely to ...

    This article was published online by The Wall Street Journal on June 22, 2016
    Link to article here [Subscription needed to access full article.]

    Also in
    The Australian
    Brexit's real impact would be gradual and global

    Related publications
    Brexit and the Impact of Immigration on the UK, Swati Dhingra, Gianmarco Ottaviano, John Van Reenen and Jonathan Wadsworth, CEP Brexit Analysis No.05, May 2016
    Full series of CEP Brexit Analyses can be seen here

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



    News Posted: 22/06/2016      [Back to the Top]

    The Week

    The EU isn't snookering Britain. Britain is hoodwinking the EU

    Britain never joined the euro currency union, freeing it of all sorts of complicated policy commitments that the rest of the EU is obliged to abide by. But despite staying on the pound, Britain still has full access to Europe's ''single market''. Essentially, this single market allows all EU member countries to move goods, services, capital, and people between each other without barrier, tax, or tariff. ''That single market is about half a billion people,'' [John] Van Reenen said. It's an open question just how much benefit national economies derive from being able to participate in this sort of free trade. But they clearly derive some benefit. And Van Reenen's group thinks it's a lot.

    This article was published online by The Week on June 22, 2016
    Link to article here

    Related publications
    Brexit: the final assessment, John Van Reenen. Article in CentrePiece Volume 21, Issue 1, Summer 2016
    BREXIT 2016: Policy Analysis from the Centre for Economic Performance, Holger Breinlich, Swati Dhingra, Saul Estrin, Hanwei Huang, Gianmarco Ottaviano, Thomas Sampson, John Van Reenen and Jonathan Wadsworth, June 2016

    Related links
    John Van Reenen webpage
    Growth Programme webpage



    News Posted: 22/06/2016      [Back to the Top]

    Full Fact

    The economic consequences of leaving the EU - statement from IFS, NIESR, and CEP

    Three leading economic institutes have made a joint statement about what they think will happen if we leave the EU. We have published what they said below.

    Here's what the IFS, NIESR, and the Centre for Economic Performance said, in their own words:

    John van Reenen, director of the CEP said: “Research at both CEP and NIESR shows that the UK economy would do worse outside the EU than in it. Trade as an engine of growth would stall. Indeed virtually all the economic work of which we are aware tells the same story – there really is no serious doubt that leaving would be taking a big risk with the economy.”



    News Posted: 21/06/2016      [Back to the Top]

    The UK in a changing Europe (YouTube Channel)

    The Norway Option

    Dr Swati Dhingra from the Centre for Economic Performance's Trade Programme video on the possible regulatory autonomy and alternatives to EU membership. Filmed as part of a panel discussion - The EU and the UK: 'the wrong kind of regulation?'. Dr Dhingra was a discussant with Panel 4 speaking on 'National sovereignty and EU regulations: better in or out?'. Her talk was titled 'Trading options for the UK outside the EU'.

    The film was made as part of 'The UK in a Changing Europe' series available on YouTube from June 21, 2016
    View the video here

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

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



    News Posted: 21/06/2016      [Back to the Top]

    The Daily Mirror

    Brexit 'would cost Brits £580 a year as price of food, drink, petrol and clothing rocket'

    The heads of three leading economic think-tanks warned of the dire consequences of leaving the EU. The analysis by National Institute of Economic and Social Research, Institute for Fiscal Studies and Centre for Economic Performance said Brexit would shrink the economy by between 1% and 3% by 2020 and between 2% and 8% smaller by 2030.

    This article was published online by The Daily Mirror on June 21, 2016
    Link to article here

    Related articles
    June 20, 2016
    CEP, NIESR and IFS blog
    Leaving the EU would almost certainly damage our economic prospects
    The complete set of CEP Brexit Analysis papers is available in one publication. Download from here.

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



    News Posted: 21/06/2016      [Back to the Top]

    Sputnik News

    Three UK economic think tanks issue final warning against Brexit

    Three UK economic think tanks issued their final warning about the countrys post-Brexit future just days before the referendum on EU membership, local media reported Tuesday. MOSCOW (Sputnik) - The think tanks include the Institute for Fiscal Studies (IFS), the National Institute of Economic and Social Research (NIESR) and the Centre for Economic Performance (CEP).

    This article was published online by Sputnik News on June 21, 2016
    Link to article here

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

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



    News Posted: 21/06/2016      [Back to the Top]

    Policy Forum.net

    Counting the cost of Brexit

    The economic impacts of Britain leaving the EU
    With the referendum fast approaching, Thomas Sampson analyses the economic consequences should Britain vote to leave the European Union.
    Proponents of Brexit, as leaving the EU has been termed, argue that having to make policies jointly with other EU members reduces the UK's sovereignty and that European institutions are less accountable to voters than the UK government. Widespread concern at high levels of immigration from other EU countries has also fuelled support for Brexit. By contrast, the Remain campaign has focused on the economic benefits from being part of the European Single Market and the fact that big global challenges such as climate change and terrorism cannot be solved by nations acting alone.

    The article was published online by the Policy Forum on June 21, 2016
    Link to article here

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

    Related links
    Thomas Sampson webpage
    Trade Programme webpage


    News Posted: 21/06/2016      [Back to the Top]

    The Independent

    EU referendum: polls suggest Brexit chances are split 50-50, says expert

    As the rival campaigns entered the final straight, independent economists from three of Britain's leading institutions issued a final warning that a vote for Brexit would hit wages and lead to higher retail prices and borrowing costs. In a joint statement, the directors of Institute for Fiscal Studies (IFS), the National Institute of Economic and Social Research (NIESR) and the Centre for Economic Performance (CEP) said there had never ''in our lifetimes'' been such agreement among economists on a major policy issue.

    This article was published online by the Independent on June 21, 2016
    Link to article here

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

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



    News Posted: 21/06/2016      [Back to the Top]

    Al Jazeera

    Transcript: Norman Lamont on the Brexit and the EU

    A study by the London School of Economics found that BREXIT could lead to a fall in national income equivalent to that of the financial crash of 2008. Facts?

    This article appeared on Al Jazeera on 21 June 2016. Link to article

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

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

    News Posted: 21/06/2016      [Back to the Top]

    The Indian Express

    Brexit: Beckham says remain

    Leading economic institutions in Britain – the Institute for Fiscal Studies, NIESR, and the London School of Economics’ Centre for Economic Performance – have warned quitting the EU’s single market would make the UK “financially worse off"

    This article appeared in The Indian Express on 21 June 2016. Link to article

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

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

    News Posted: 21/06/2016      [Back to the Top]

    Daily Mirror

    How does Europe add up in numbers as Britain prepares for EU Referendum

    £350 - the amount the London School of Economics says you save every year from lower prices thanks to EU membership

    This article appeared in the Daily Mirror on 21 June 2016. Link to article

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

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

    News Posted: 21/06/2016      [Back to the Top]

    New York Online

    How Donald Trump Explains ‘Brexit'

    In the most pessimistic scenario modeled by researchers for the London School of Economics, output would ultimately take a 9.5 percent hit, “a loss of a similar size to that resulting from the global financial crisis of 2008-09.”

    This article appeared in New York Online on 21 June 2016. Link to article

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

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

    News Posted: 21/06/2016      [Back to the Top]

    The Independent

    EU referendum: UK's top economic experts issue joint warning against Brexit

    Challenging Leave campaign claims that Britain’s economy would not suffer from Brexit, the Institute for Fiscal Studies (IFS), the National Institute of Economic and Social Research (NIESR) and the Centre for Economic Performance (CEP) said that “almost all of those who have looked seriously at this issue” were predicting lower real wages in event of Brexit, higher prices for goods and services, higher borrowing costs and higher unemployment.

    This article appeared in the Independnent on 21 June 2016. Link to article

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

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

    News Posted: 21/06/2016      [Back to the Top]

    Parliament Magazine

    Brexit would 'almost certainly' harm UK's economy, say economic trio

    The trio, Jagjit Chadha, the director of the National Institute of Economic and Social Research, Paul Johnson, the director of the Institute for Fiscal Studies and John Van Reenen, the director of the Centre for Economic Performance at the London School of Economics, published a joint statement today (20 June), outlining their collective conclusions on the likely consequences of a Brexit. Leaving the EU, they argue, would, relative to staying in, likely result in lower real wages, a reduction in the value of the pound resulting in price hikes, as well as higher borrowing and lower public spending or higher taxes. The UK would also see unemployment rise in the short term.

    This article appeared in Parliament Magazine on 21 June 2016. Link to article

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

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

    News Posted: 21/06/2016      [Back to the Top]

    The Independent

    Brexit: Will it improve living standards in the UK?

    The second part of the argument is that in the longer term – over the next 15 or so years - not being in the European Union would mean the economy does not grow as much as it otherwise would. This is the analysis that has been made by independent organisations such as the London School of Economics and The National Institute of Economic and Social Research (NIESR).

    This article appeared in the Independent on 21 June 2016. Link to article

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

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

    News Posted: 21/06/2016      [Back to the Top]

    The Independent

    EU referendum: How would leaving the EU work – and how would it affect you in the long term?

    They do not say we would be poorer than we are now, but that we would be poorer than we would otherwise be. Estimates of the long-term effect range from 3 per cent of national income (Oxford Economics) to 8 per cent (London School of Economics).

    This article appeared in the Independent on 21 June 2016. Link to article

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

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

    News Posted: 21/06/2016      [Back to the Top]

    Evening Standard

    Leaving the EU single market would be a disaster for London

    The evidence from independent, respected experts is overwhelming. They share the view that the UK will face a severe economic blow in the event of leaving the EU, leading to fewer jobs and lower public spending. The IMF, the Bank of England, the Treasury and the London School of Economics are united in their views: the UK economy will shrink if we leave.

    This article appeared in the Evening Standard on 21 June 2016. Link to article

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

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


    News Posted: 21/06/2016      [Back to the Top]

    BBC2/BBC News Channel - Victoria Derbyshire Show

    EU Vote: What is TTIP and why should you care?

    Dennis Novy appeared on a show dealing with the EU and the Transatlantic Trade and Investment Partnership (TTIP), answering questions from members of the public who are worried about TTIP and what it might mean for the NHS.

    The Victoria Derbyshire Show was broadcast on BBC2 on June 21, 2016
    The broadcast is available online here. The TTIP segment with Dennis Novy begins 1:25:57 into the programme.

    Related publications
    TTIP: is free trade coming to the North Atlantic?, Dennis Novy. Article in CentrePiece Volume 19, Issue 3, Winter 2014/15

    Related links
    Dennis Novy webpage
    Trade Programme webpage



    News Posted: 21/06/2016      [Back to the Top]

    Politico

    Brexit Corner - Three days to go

    Today Morning Trade talks Brexit and the future of U.K. trade policy with Swati Dhingra, a lecturer in economics at the London School of Economics and a member of the trade research program of the Institutions's Center for Economic Performance.

    If Brexit were to happen, what would the U.K.'s negotiating position vis a vis that of the EU be?
    It's hard to make precise predictions, but some insight on how the U.K. would fare following Brexit might be gained by looking at the experience of Canada, another medium-sized developed economy in close proximity to a much larger market, the U.S.
    Are you thinking of Canada's experience with the North American Free Trade Agreement?
    Yes. When you are a smaller market next to larger one, in this case the biggest market in the world, it is very hard to be considered an equal negotiating partner. The smaller partner usually ends up giving up more in order to obtain market access concessions from the larger partner. In the case of Canada and the North American Free Trade Agreement, Ottawa adopted the ''investment state dispute settlement,'' a dispute settlement mechanism that allows investors to bring claims directly against the government in case of provisions it deems unfair. An example is the proposal to introduce plain packaging for cigarettes, which the Canadian government dropped because American tobacco companies could have claimed that the proposal violated NAFTA.
    Canadian companies have the same right under the ISDS court system, so why is it a problem?
    The question is one of balancing investor rights with how much policy space is available to governments. There is also concern that U.S. firms are better able to take advantage of ISDS provisions than Canadian ones. The United States has won all of the 11 decided cases that it has initiated under the ISDS, while Canada has won seven of its 13 cases.
    Would the UK be facing a similar scenario with the EU?
    It’s not about ISDS per se, it's about the country finding itself in the position of having to give up on more than it would be willing to in other conditions. Let's take Schengen for example, an issue dear to the U.K., and an exception London has fought long and hard to have when it was part of the EU. If the U.K. were to leave the EU bloc, when it goes back to the negotiating table it might have to give up on the Schengen exception if, for example, it wanted concessions on the service side of the new trade deal.
    - Switzerland frets it'll be a loser from Brexit:
    Despite Switzerland likely reaping benefits from a Brexit due to the influx of funds from the City of London, it is afraid of currency appreciation as the Swiss franc is one of the few safe-haven currencies in times of uncertainty. If the franc appreciates Swiss exports that account for more than 50 percent of the country's GDP, according to the World Bank, will likely suffer.

    More on POLITICO Pro here

    This article was published online by Politico on June 21, 2016
    Link to article here

    Related publications
    BREXIT 2016: Policy Analysis from the Centre for Economic Performance, Holger Breinlich, Swati Dhingra, Saul Estrin, Hanwei Huang, Gianmarco Ottaviano, Thomas Sampson, John Van Reenen and Jonathan Wadsworth, CEP Brexit Book, June 2016

    Related links
    Holger Breinlich webpage
    Swati Dhingra webpage
    Saul Estrin webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Jonathan Wadsworth webpage
    Labour Markets Programme webpage
    Growth Programme webpage
    Trade Programme webpage



    News Posted: 21/06/2016      [Back to the Top]

    LSE British Politics and Policy blog

    Why leaving the EU would almost certainly damage our economic prospects

    The economic consequences of leaving the EU have been a central focus of the referendum campaign. As June 23 draws near, Jagjit Chadha, Paul Johnson and John Van Reenen bring together the conclusions from their research on the likely consequences, and reflect on some of the claims made.

    This article was published online by the LSE British Politics and Policy blog on June 21, 2016
    Link to article here

    Related links
    John Van Reenen webpage
    Growth Programme webpage

    Link to the press release here



    News Posted: 21/06/2016      [Back to the Top]

    Britain more prosperous ''IN''

    The Telegraph

    We are economists who care about Britain and its future. We feel compelled to speak out on the risks of Leaving and opportunities from Remaining in the EU. If Britain votes to Leave we believe that:

    • A recession causing job losses will become significantly more likely due to the shock and uncertainty of Brexit. With interest rates near zero and debt still high, the Bank of England and Government would have limited ability to prevent such a recession.

    • A drop in the pound and increased tariffs on imports will cause the costs of everyday goods to go up increasing inflation.

    • Investment in the UK will drop harming innovation and future job growth.

    • These impacts will fall most heavily on households with middle and low incomes.

    • Less growth means less government revenue which means higher taxes and less to spend on services like the NHS.

    Leave will say these points are 'Project Fear'. We say they are 'Project Reality'.

    This open letter was published by The Telegraph on June 21, 2016
    Link to the letter here

    Related links
    Holger Breinlich webpage
    Richard Layard webpage
    Stephen Machin webpage
    Sandra McNally webpage
    John Van Reenen webpage
    Education and Skills Programme webpage
    Growth Programme webpage
    Labour Markets Programme webpage
    Trade Programme webpage
    Wellbeing Programme webpage



    News Posted: 21/06/2016      [Back to the Top]

    Sputnik News

    Britain's Economy to See Guaranteed Losses, Uncertain Gains After Brexit

    According to Thomas Sampson, assistant professor at the Department of Economics, London School of Economics and Political Science (LSE), an exit scenario would hit the country's economy really hard. Talking to Sputnik, he referred to a study carried out by LSE's Centre for Economic Performance in which it was forecast that UK per capita GDP would decrease by between 6.3 and 9.5 percent in the long-run in the event of Brexit.

    This article was published online by Sputnik News on June 20, 2016
    Link to article here

    Also in
    June 23, 2016
    Ria Novosti (Russia)
    ANALYSIS: Britain's Economy to See Guaranteed Losses, Uncertain Gains After Brexit

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

    Related links
    Thomas Sampson webpage
    Trade Programme webpage



    News Posted: 20/06/2016      [Back to the Top]

    FT.com

    Asian leaders urge UK to stay in EU

    The UK is also the top destination for foreign direct investment in Europe and ranked as one of the most attractive FDI markets in the world. But investment would tumble at least 22 per cent over the next decade in the event of Brexit, according to a recent study by the Centre for Economic Performance at the London School of Economics and Political Science.

    This article was published by FT.com on June 20, 2016
    Link to article here

    Related publications
    The impact of Brexit on foreign investment in the UK, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis Series Paper No.03, April 2016
    See Technical Appendix to CEP Brexit Analysis Series Paper No.3 here
    The consequences of Brexit for UK trade and living standards, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis Series Paper No.02, March 2016
    See Technical Appendix to CEP Brexit Analysis Series Paper No.2 here

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



    News Posted: 20/06/2016      [Back to the Top]

    Western Daily Press

    Being in the UK works better for jobs and business

    The IMF, the Bank of England, the Treasury, the OECD, the London School of Economics and many more are...
    (no link available)

    This article was published by the Western Daily Press on June 20, 2016
    [No link available]

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

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



    News Posted: 20/06/2016      [Back to the Top]

    The Parliament Magazine

    Brexit would 'almost certainly' harm UK's economy, say economic trio

    Three leading British economists have warned that leaving the EU would 'almost certainly' damage the UK's economic prospects.
    The trio, Jagjit Chadha, the director of the National Institute of Economic and Social Research, Paul Johnson, the director of the Institute for Fiscal Studies and John Van Reenen, the director of the Centre for Economic Performance at the London School of Economics, published a joint statement today (20 June), outlining their collective conclusions on the likely consequences of a Brexit. Leaving the EU, they argue, would, relative to staying in, likely result in lower real wages, a reduction in the value of the pound resulting in price hikes, as well as higher borrowing and lower public spending or higher taxes. The UK would also see unemployment rise in the short term. The three economists added that their conviction that British citizens would be worse off financially if the UK opted to leave the EU, wasn't just based on research from their own institutes, ''but the work of almost all those who have looked seriously at this issue''.

    This article was published online by The Parliament Magazine on June 20, 2016
    Link to article here

    Related publications
    Leaving the EU would almost certainly damage our economic prospects, Jagjit Chadha, Paul Johnson and John Van Reenen. Statement from NIESR, the IFS and the Centre for Economic Performance, 21 June 2016.

    Related links
    John Van Reenen webpage
    Growth Programme webpage



    News Posted: 20/06/2016      [Back to the Top]

    Radio New Zealand National Online

    Brexit: should the UK stay or walk away?

    Thomas Sampson is from the London School Of Economics and has recently authored a paper called, Economists for Brexit: A Critique. He says Britain would be stronger by remaining in the EU.

    This interview was broadcast by Radio New Zealand National online on June 19, 2016
    Link to the broadcast here

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

    Related links
    Thomas Sampson webpage
    Trade Programme webpage


    News Posted: 19/06/2016      [Back to the Top]

    Herald Scotland

    Forget project fear

    The most serious problem of staying outside any EU trade agreement is the serious impact this might have on foreign direct investment into the UK. Being in the single market makes the UK attractive as a base for exporters. A Centre for Economic Performance report estimates that the UK has around £1 trillion of foreign direct investment, of which half is from other EU countries, and much of the rest uses the UK as a platform to the single market.

    This article was published by the Herald Scotland on June 19, 2016
    Link to article here

    Related publications
    The impact of Brexit on foreign investment in the UK, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis Paper No.03, April 2016
    The consequences of Brexit for UK trade and living standards, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis Paper No.02, March 2016
    See all of the Brexit Analysis Series here

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



    News Posted: 19/06/2016      [Back to the Top]

    Last Week Tonight with John Oliver (HBO)

    Britain could soon vote to leave the European Union

    Thomas Sampson interviewed on what may happen following a vote for Brexit.

    The interview was broadcast on the Last Week Tonight with John Oliver show on June 19, 2016
    Link to broadcast here [Interview begins at 10:33]

    Related publications
    BREXIT 2016: Policy Analysis from the Centre for Economic Performance, Holger Breinlich, Swati Dhingra, Saul Estrin, Hanwei Huang, Gianmarco Ottaviano, Thomas Sampson, John Van Reenen and Jonathan Wadsworth, CEP Brexit Analysis Paper No.08, June 2016

    Related links
    Thomas Sampson webpage
    Trade Programme webpage



    News Posted: 19/06/2016      [Back to the Top]

    The Economist

    Brexit: What if?

    All or nothing at all
    What sort of deal might that new leader try to get? Some want no deal at all. A group called Economists for Brexit (EFB) suggests simply abolishing all import tariffs. The ensuing rise in trade, it says, would boost GDP by 4%. Yet this prediction relies on small changes in trade costs having implausibly large effects on how much trade goes on, say researchers at the London School of Economics. Besides, the EFB assumptions are politically implausible.

    This article was published online by The Economist on June 18, 2016
    Link to article here

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

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



    News Posted: 18/06/2016      [Back to the Top]

    BBC Radio 4

    More or less programme

    ...leaving the EU would damage the UK economy and says Swati Dhingra of the London school of economics that's true even if we accept Patrick ...

    This interview was broadcast by BBC Radio 4 on the More or Less programme on June 18, 2016
    Link to the interview here

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

    Related links
    Swati Dhingra webpage
    Trade Programme webpage


    News Posted: 18/06/2016      [Back to the Top]

    Investing.com

    El 'brexit' golpearía al comercio del Reino Unido y reduciría su PIB

    In addition, ''agreements with third countries would be predictably less beneficial for the United Kingdom if it negotiated them alone rather than as part of the European Union,'' he told Dr Swati Dhingra, Economist at the Centre for economic performance (CEP). On the other hand, the contraction of the GDP affects tax revenues and therefore harms the State deficit, and at the same time that affects the labour market, increasing unemployment and reducing wages, said Holger Breinlich, Professor of the school of business at the University of Nottingham.

    This article was published online by Investing.com (Spain) on June 18, 2016
    Link to article here

    Related publications
    BREXIT 2016: Policy Analysis from the Centre for Economic Performance, Holger Breinlich, Swati Dhingra, Saul Estrin, Hanwei Huang, Gianmarco Ottaviano, Thomas Sampson, John Van Reenen and Jonathan Wadsworth, CEP Brexit Analysis Paper No.08, June 2016
    Who Bears the Pain? How the costs of Brexit would be distributed across income groups, Holger Breinlich, Swati Dhingra, Thomas Sampson and John Van Reenen, CEP Brexit Analysis Paper No.07, June 2016

    Related links
    Holger Breinlich webpage
    Swati Dhingra webpage
    Trade Programme webpage



    News Posted: 18/06/2016      [Back to the Top]

    The Economist

    The Battle of Evermore

    But on Brexit they do not. A host of studies in Britain—by his own institute, the Treasury, the Institute of Fiscal Studies, Oxford Economics, PricewaterhouseCoopers, the Centre for European Reform and the Centre for Economic Performance at the London School of Economics—agree with international bodies—the IMF and the OECD rich-country think-tank—that Brexit would mean less trade, lower foreign direct investment and slower productivity growth.

    This article appeared in the Economist on 18 June 2016 Link to article

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

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


    News Posted: 18/06/2016      [Back to the Top]

    New Zealand Herald online - Business

    Brian Fallow: Nostalgia no basis for policy

    Then there is the question of the effect on Britain's trade with other regions if it is no longer governed by agreements negotiated by the European Union. Eurosceptics assume those agreements dilute Britain's interests but research by the London School of Economics found that the EU's trade deals tended to benefit Britain more than other European countries.

    This article was published by the New Zealand Herald online on June 17, 2016
    Link to article here

    Related publications
    The consequences of Brexit for UK trade and living standards, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis Series Paper No.02, March 2016
    See Technical Appendix to CEP Brexit Analysis Series Paper No.2 here

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



    News Posted: 17/06/2016      [Back to the Top]

    Oye! Times (Canada)

    Oye! News from Europe: Brexit does anyone win?

    As June 23 looms closer and closer and Britain makes the ultimate decision whether it should stay in the European Union or go it alone, a recent thorough analysis by Holger Breinlich, Swati Dhingra, Thomas Sampson and John Van Reenen at the Centre for Economic Performance (CEP) at the London School of Economics looks at what various changes in income various income groups in the United Kingdom will experience if the UK decides to cast its membership in the European Union aside on June 23, 2016.

    This article was published online by Oye! Times (Canada) on June 17, 2016
    Link to article here

    Related publications
    BREXIT 2016: Policy Analysis from the Centre for Economic Performance, Holger Breinlich, Swati Dhingra, Saul Estrin, Hanwei Huang, Gianmarco Ottaviano, Thomas Sampson, John Van Reenen and Jonathan Wadsworth, CEP Brexit Analysis Paper No.08, June 2016
    Who Bears the Pain? How the costs of Brexit would be distributed across income groups, Holger Breinlich, Swati Dhingra, Thomas Sampson and John Van Reenen, CEP Brexit Analysis Paper No.07, June 2016

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



    News Posted: 17/06/2016      [Back to the Top]

    Full Fact

    The EU referendum, the economy and you

    A different approach is to estimate how prices for different things would be affected, and then compare this to spending patterns across different income brackets and household types. Using this approach, the Centre for Economic Performance have suggested that the costs of leaving the EU would be distributed fairly equally across different types of household.



    News Posted: 16/06/2016      [Back to the Top]

    The Daily Mail online

    Things you need to read about Brexit: Best articles to help you decide

    Things to read about Brexit

    Below is a selection of informative things to read about Brexit that can help you decide. Please suggest your own in comments, but you cannot post links there. You can send links to editor@thisismoney.co.uk with Brexit articles in the headline and we will see if they are worth adding.
    LSE professor: Why I will vote Remain in the referendum
    London School of Economics Nicholas Barr runs through his thoughts with some good facts and explanations that weigh up key issues.

    This article was published by The Daily Mail online on June 16, 2016
    Link to article here

    Related articles
    Letter to friends: this is why I will vote Remain in the referendum, Nicholas Barr, LSE BrexitVote blog on May 27, 2016 cites CEP Brexit research.

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

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



    News Posted: 16/06/2016      [Back to the Top]

    The New Yorker

    Murder of British M.P. heightens uncertainty over Brexit vote

    The failure to make a case for the E.U. had left a big opportunity for Johnson and Nigel Farage, the head of the U.K. Independence Party, to argue that Britain doesn't get anything out of its membership except bureaucratic diktats from Brussels, and boatloads of immigrants from Poland and other countries in Eastern Europe, who fill the welfare rolls and depress wages. These claims are largely false: a recent paper by three economists at the London School of Economics concluded, ''EU immigrants are more educated, younger, more likely to be in work and less likely to claim benefits than the UK-born.'' But, as the polls indicate, the anti-E.U. fabrications are widely believed.

    This article was published online by the New Yorker on June 16, 2016
    Link to article here

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

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



    News Posted: 16/06/2016      [Back to the Top]

    The Independent

    Leave to exit: how your money might be affected by Brexit

    Last year, a report from the Bank of England supported his comment, suggesting that the wages of low-paid employees in catering, hospitality and care have been driven down by increased competition from EU workers.
    However, the Centre for Economic Performance at the London School of Economics, claimed that areas of the UK with large recent increases in EU immigration did not suffer greater falls in pay as a result, but that wages fell as a result of the global financial crisis. It added: ''Immigrants consume goods and services and this increased demand helps to create more employment opportunities.''

    This article was published by The Independent on June 15, 2016
    Link to article here

    Related publications
    Brexit and the Impact of Immigration on the UK, Jonathan Wadsworth, Swati Dhingra, Gianmarco Ottaviano and John Van Reenen, CEP Brexit Analysis Series No.5, May 2016
    See the complete set of CEP Brexit Analysis research papers here.

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



    News Posted: 15/06/2016      [Back to the Top]

    FT.com

    Brexit: what is in store for the economy

    The thinking behind the predictions about Britain's future outside the EU
    Very costly in all scenarios: Centre for Economic Performance
    The prediction: A hit to trade in all likely scenarios will bring GDP 6.3-9.5 per cent lower by 2030 than if the UK stayed in.
    The reasoning Even if the UK strikes a free-trade agreement with the EU, non-tariff barriers - such as rules of origin regulations - would hamper growth. The worst estimates assume the economy will become less efficient over the long term due to less competition from EU nations.
    Criticism Does not assume any impact due to change in migration or a reduction in regulations.

    This article was published by the FT.com on June 15, 2016
    Link to article here

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

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



    News Posted: 15/06/2016      [Back to the Top]

    Neue Zurcher Zeitung

    Brexit-Szenarien: Was der Brexit fur die EU-Wirtschaft bedeuten wurde

    Relevant studies, among other things by the Bertelsmann Foundation in collaboration with the Ifo Institute, the Center for economic performance at the London School of Economics and the rating agency Standard & Poor's, come in the tendency to similar results: the economic consequences would be for the EU-27 is less severe than for Britain itself, but on balance but negative.

    This article was published online by Neue Zurcher Zeitung (Germany) on June 14, 2016
    Link to article here

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

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



    News Posted: 14/06/2016      [Back to the Top]

    The Telegraph

    UK voters back Norway-style Brexit, poll reveals

    Experts at the Treasury, the National Institute of Economic and Social Research (NIESR), and the London School of Economics have all found that remaining a part of the EEA would pose the least severe economic risk to the UK after a decision to split from the EU.

    This article was published online by The Telegraph on June 11, 2016
    Link to article here

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

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



    News Posted: 11/06/2016      [Back to the Top]

    The Times

    Making pots of money for yourself does not make you a wealth creator

    Financial engineering has created a rentier class, a modern feudal system, and the biggest beneficiaries of all that extra debt have been the bankers. John Van Reenen and Brian Bell, of the Centre for Economic Performance, have estimated that 60 per cent of the rise in wage inequality in the decade to 2008 was ''due to the financial sector''.

    The article was published by The Times on June 11, 2016
    Link to article here

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

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



    News Posted: 11/06/2016      [Back to the Top]

    The Economist

    Shocking shopping

    A bad few days for the image of Britain's retail sector
    PARLIAMENTARY committees are normally sleepy affairs. Backbench MPs get the chance to grill the occasional bigwig. By replying to questions succinctly witnesses typically escape without letting slip anything too revealing. Those in front of the business select committee this week took a different approach. On June 6th Mike Ashley, the boss of the Sports Direct sportswear chain, provided evidence about working conditions in his shops. He admitted that his company was under government investigation over allegations he had paid workers less than the minimum wage, ... Next up, on June 8th, were former executives of BHS, a chain of fusty department stores that filed for administration in April ... The overall impression in both cases was of a company out of control. Indeed, Mr Ashley hinted as much, admitting he may have struggled to keep on top of things as his firm grew from ''an inflatable [dinghy]'' to an ''oil tanker''. Founders who stay in charge for too long are a common problem for British firms, says John Van Reenen of the London School of Economics Centre for Economic Performance, and poor management partly explains low British productivity.

    This article was published by The Economist on June 11, 2016
    Link to article here

    Related links
    John Van Reenen webpage
    Growth Programme webpage
    See all publications from CEP's Growth Programme here



    News Posted: 11/06/2016      [Back to the Top]

    A l'encontre

    Le grand bluff de la robotisation

    The big bluff of robotisation
    Numerous studies announce us that Automation is going to lead to a massacre of jobs. At the same time, the productivity slowdown worries official economists and Christiane Lagarde, President of the IMF, evokes even a ''new poor''. This article talks about this contradiction. ... Other contributions are, however, much less alarmist. Georg Graetz and Guy Michaels found ''no significant effect of industrial robots on overall employment''.

    This article was published online by A l'encontre (France) on June 10, 2016
    Link to article here

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

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



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

    LSE British Politics and Policy blog

    Vote Leave's anti-immigration system is deeply flawed

    Study after study confirms that EU migrants have an overwhelmingly positive effect on the British economy. They have a higher employment rate (78.2%) than people born in the UK (72.5%), those from Poland and other A8 accession economies especially so (81.9%). Their hard work neither deprives British workers of jobs nor depresses local wages, as a new study by the London School of Economics' Centre for Economic Performance (CEP) shows. On the contrary, EU migrants tend to enhance the productivity of British workers, and hence their pay.

    This article was published online by the LSE British Politics and Policy blog on June 10, 2016
    Link to article here

    Related publications
    Brexit and the Impact of Immigration on the UK, Jonathan Wadsworth, Swati Dhingra, Gianmarco Ottaviano and John Van Reenen, CEP Brexit Analysis Paper No.05, May 2016
    Why immigration is no reason to leave the EU, Swati Dhingra, Gianmarco Ottaviano, John Van Reenen and Jonathan Wadsworth. Article in CentrePiece Volume 21, Issue 1, Summer 2016

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



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

    BBC News - Business

    Using jelly beans to explain productivity

    Comedian Colm O'Regan takes a look at productivity and its decline in the UK since the financial crisis in 2008. He speaks to Anna Valero from the London School of Economics and Richard Cullen, managing director of The Jelly Bean Factory.

    The interview was broadcast on BBC News Business on June 10, 2016
    Link to programme here

    Related links
    Anna Valero webpage
    Growth Programme webpage
    Anna Valero CEP publications webpage



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

    The Independent

    Brexit job losses are already impacting, recruiters say

    The slowdown in hiring during the months of uncertainty before the poll will “come up in the GDP numbers,” said Swati Dhingra, an assistant professor at the London School of Economics.

    This article appeared in the Independent on 10 June 2016. Link to article

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

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

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

    LSE EUROPP - European Politics and Policy blog

    Scenarios of a new UK-EU relationship: A 'soft' Brexit

    What consequences will Britain's EU referendum have for both the UK and the rest of Europe? In a series of papers published as a collaboration between EUROPP and CIDOB (the Barcelona Centre for International Affairs), LSE authors analyse the prospects for three scenarios - a Bremain, a 'soft' Brexit and a 'harsh' Brexit. Swati Dhingra discusses what would happen in the case of a 'soft' Brexit, which is defined as the UK exiting the EU without a significant deterioration in relations between Britain and other EU countries. The full papers are available here.

    This article was published online by LSE's EUROPP - European Politics and Policy - blog on June 9, 2016
    Link to article here

    Related publications
    BREXIT 2016: Policy Analysis from the Centre for Economic Performance, Holger Breinlich, Swati Dhingra, Saul Estrin, Hanwei Huang, Gianmarco Ottaviano, Thomas Sampson, John Van Reenen and Jonathan Wadsworth, CEP Brexit Analysis Paper No.08, June 2016
    Life after Brexit : What are the UK’s options outside the European Union?, Swati Dhingra and Thomas Sampson, CEP Brexit Analysis Paper No.01, February 2016

    Related links
    Swati Dhingra webpage
    Trade Programme webpage



    News Posted: 09/06/2016      [Back to the Top]

    World Economic Forum

    What's the real impact on economies of the minimum wage?

    Economists care a great deal about the minimum wage because it is a policy prescription that increasingly affects a large portion of the workforce and because it is a clear case of government intervention, imposing a floor on the market price of labor. Minimum wages therefore offer a policy tool to test theories about how the labor market operates. In a new working paper, Alan Manning of the London School of Economics argues that a clear signal of the negative employment effects of the minimum wage is ''elusive,'' which should not be surprising if we think about the mechanisms underlying competition in the labor market.

    This article was published online by the Washington Center for Equitable Growth on June 9, 2016
    Link to article here

    Related publications
    The elusive employment effect of the minimum wage, Alan Manning, Washington Center for Equitable Growth Working Paper 2016-06, June 2016

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



    News Posted: 09/06/2016      [Back to the Top]

    Bloomberg News

    Those Brexit job losses? Recruiters say they've already started

    Pro-EU forces have warned that if Britain votes to exit the union on June 23, the country could lose almost a million jobs. Recruiters say the damage has already begun. ''Companies are pushing the pause button,'' said Kit Bingham, a partner at executive search firm Odgers Berndtson. An Odgers poll last month found that a quarter of directors at FTSE 350 companies would consider relocating at least part of their business if voters approve a Brexit. Even with a vote to stay, some harm is inevitable, economists say. The slowdown in hiring during the months of uncertainty before the poll will ''come up in the GDP numbers,'' said Swati Dhingra, an assistant professor at the London School of Economics. ''There's going to be a lag. It won't recover overnight.''

    This article was published online by Bloomberg News on June 9, 2016
    Link to article here

    Related publications
    The complete CEP Brexit Analysis Series is available online here

    Related links
    Swati Dhingra webpage
    Trade Programme webpage



    News Posted: 09/06/2016      [Back to the Top]

    The Financial Times

    Brexiters' idea of unilateral free trade is a dangerous fantasy

    Economists for Brexit, argues that such an alternative exists. It rejects post-exit deals with the EU and instead recommends unilateral free trade and reliance for market access on the rules of the World Trade Organisation. Does this make sense? The short answer is: no. The longer one is that unilateral free trade would not be economically superior to EU membership, would be less simple than imagined and would also be politically unacceptable. ...

    Start with the economics. Patrick Minford of Cardiff University suggests that, under this option, UK economic welfare would rise by 4 per cent after Brexit. The economy would also end up specialising in services and lose manufacturing. In analysing the same option, economists at the London School of Economics reach a quite different conclusion: a reduction of 2.3 per cent in welfare, only marginally less than the 2.6 per cent reduction they believe would follow a Brexit without such unilateral reductions in tariffs.

    This article was published by The Financial Times on June 9, 2016
    Link to article here

    Related publications
    Economists for Brexit: A Critique, Thomas Sampson, Swati Dhingra, Gianmarco Ottaviano and John Van Reenen, CEP Brexit Analysis Paper No.6, May 2016
    The complete CEP Brexit Analysis Series is available online here

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



    News Posted: 09/06/2016      [Back to the Top]

    Chronicle Live (Newcastle)

    EU referendum: Are we really goingto rip up all our trade deals and start again?

    The London School of Economics' Centre for Economic Performance calculates long-term costs to Britain of lower trade with the EU could be as high as 9.5% of GDP. Leave campaign-supporting economists have as yet not done detailed analyses.

    This article was published by the Chronicle Live (Newcastle) on June 9, 2016
    Link to article here

    Related publications
    The consequences of Brexit for UK trade and living standards, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis No.02, March 2016.
    Download the accompanying Technical Paper here

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



    News Posted: 09/06/2016      [Back to the Top]

    Straits Times (Singapore)

    Producitivity is not just a numbers game

    Intuitively, automation would lead to higher labour productivity. For instance, with labour-assisting technology such as autonomous drone waiters by local firms, we would expect a fall in the number of waiters serving the same number of customers. A 2015 study by Graetz and Michaels further provides empirical evidence from 14 industries in 17 developed countries that industrial robots do increase labour productivity. Using data from the International Federation of Robotics, it is shown that using robots within manufacturing accounted for 16 per cent of its labour productivity growth between 1993 and 2007.

    This article was published online by the Straits Times (Singapore) on June 8, 2016
    Link to article here

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

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



    News Posted: 08/06/2016      [Back to the Top]

    NEON blog (Germany)

    Es gibt zu viele falsche Informationen

    ''There's too much wrong information''
    Interview with Swati Dhingra
    How will the British vote on June 23? Swati Dhingra, lecturer in economics at the London School of Economics, has examined the possible effects of a Brexit vote on the UK economy. In the interview, she explains why young voters could make all the difference.

    This article was publsihed online by NEON (Germany) on June 7, 2016
    Link to article here

    Related publications
    See the complete CEP Brexit Analysis Series here

    Related links
    Swati Dhingra webpage
    Trade Programme webpage


    News Posted: 07/06/2016      [Back to the Top]

    The Washington Post

    A quick Brexit or a delayed departure? Here's where it gets tricky for businesses

    Perhaps even more convincing is the growing body of macroeconomic research — much of it conducted by economist Nicholas Bloom with co-authors — that concludes that firms and consumers overall are less responsive to economic incentives in the face of high levels of uncertainty. This reflects research on how levels of policy uncertainty in many major high-income economies have risen over time, including in the period since the onset of the Great Recession in 2008-2009. Thus the Brexit uncertainty — which may continue until the U.K. formally strikes a new regulatory and trade deal with the E.U. — means that even U.K. monetary and fiscal policy will be less than 100 percent effective, just when such policies might be most needed to ward off what could turn out to be a severe recession.

    This article appeared in the Washington Post on 7 July 2016. Link to article

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

    Related links
    Nicholas Bloom webpage
    Growth Programme webpage

    News Posted: 07/06/2016      [Back to the Top]

    Guardian

    Guardian Small Business Network, EU referendum panel: Would Brexit make UK businesses less competitive?

    In this week's EU referendum Q&A our panel discuss how a Brexit could affect the costs facing UK businesses:
    Would UK businesses be more or less competitive in the global market if we choose to leave?

    Swati Dhingra
    Assistant professor at the department of economics at the London School of Economics, researching international economics, globalisation and industrial policy, she is co-author of Life after Brexit, a report by LSE's centre for economic performance
    After Brexit UK businesses would be less competitive within the EU market because they would face higher non-tariff barriers such as rules of origin and the costs of divergence in regulations. Potentially, UK businesses would also face tariffs when exporting to the EU and to countries with which the EU has negotiated trade agreements. If the business relies heavily on imports from the EU or the EU's trade agreement partners, then it would have to pay higher costs for its inputs. The EU is the UK's biggest trade and investment partner, so these higher trade barriers would make UK businesses less competitive. ...

    John Van Reenen
    Director of the Centre for Economic Performance, London School of Economics.
    In the short run, it is likely there would be negative shocks as uncertainty spikes while we negotiate new trading arrangements with the EU and the rest of the world. This has potential to hurt investment and hiring. In the longer run, there would be an increase in trade costs as we would have a looser relationship with the EU single market. This could potentially cause a fall in overall trade and in foreign investment, which could in turn depress productivity. Second, access to EU migrants, who provide a valuable source of skills to EU businesses, would be restricted. ...

    This article was published online by the Guardian on June 7, 2016
    Link to article here

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

    Related links
    Swati Dhingra webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage



    News Posted: 07/06/2016      [Back to the Top]

    BBC Radio Cambridgeshire

    Brian Bell interview

    Brian Bell from CEP discusses report that shows foreigners do not commit any more crimes than the rest of the population.

    This programme was broadcast on BBC Radio Cambridgeshire on 7 June 2016. Link

    Related Links
    Brian Bell webpage
    Growth webpage


    News Posted: 07/06/2016      [Back to the Top]

    Gulf Times

    A British test of reason at June 23 referendum

    But lately, as John Van Reenen of the London School of Economics recently put it, the economic case for Brexit has been largely missing in action. Its advocates are at pains to explain what kind of trade and partnership agreements, if any, Britain could enter into with the EU, much less how those agreements would be superior to the current arrangement.

    This article appeared in the Gulf Times on 6 June 2016. Link to article

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

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

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

    London Loves Business

    5 reasons the UK leaving the EU would be a DISASTER

    A report by the Centre for Economic Performance (CEP) at the London School of Economics released last week published similar findings. The report said that in an “optimistic” scenario, the UK leaving the EU would knock off £850 per household. In a “pessimistic” scenario with larger increases in trade costs, Brexit will lower average incomes by £1,700 per household.

    This article appeared in London Loves Business on 6 June 2016. Link to article

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

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


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

    Morning Star

    UPDATE: 5 arguments in favor of a U.K. 'Brexit' from the EU -- and 5 against

    U.K. shoppers save 350 pounds a year, or about $511, thanks to lower prices that come from being part of the EU. That's according to the remain campaign, which cites London School of Economics data

    This article appeared in the Morning Star on 6 June 2016. Link to article

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

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


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

    Reader's Digest

    5 Scientific Reasons to Feel Optimistic on a Rainy Day

    Your perception of the weather is what brings about negative feelings, the study authors suspect. “If it is sunny every day you get used to it and the sunshine doesn’t make you any happier,” Paul Dolan, professor of behavioral science at the London School of Economics, said to the Telegraph

    This article appeared in Reader's Digest on 6 June 2016. Link to article

    Related Links
    Paul Dolan webpage
    Wellbeing Programme webpage

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

    BBC Radio 4

    Professor Richard Layard interview

    Professor Richard Layard discusses importance of parenting classes on child rearing, resilience and avoidance of self-absorption as the key to life satisfaction and happiness

    This programme was broadcast on BBC Radio 4 on 6 June 2016. Link

    Related links
    Richard Layard webpage
    Wellbeing Programme webpage

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

    BBC World Service Radio

    Thomas Sampson interview

    Thomas Sampson speaks in favour of Britain staying in the EU

    This programme was broadcast on BBC World Service on 6 June 2016. Link

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

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


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

    The Daily Mirror

    The 6 experts saying Brexit will cost you - and the 1 that disagrees

    Numbers are being thrown around by the Vote Leave and Vote Remain campaigns like they're going out of fashion - but what do the experts say and can we trust them?
    Six out of seven reports predict a Brexit will hurt us for years to come. Six out of seven reports say families will lose thousands of pounds a year. Hang on, we hear the Brexiteers say. Who wrote these reports? How are these economists funded? We decided to find out: ...

    2. LSE: We'll lose £850 a year

    What is it?
    The Centre for Economic Performance at the London School of Economics is a group of academic researchers.

    What does it say?
    If the UK gets a free trade agreement, it will still take a 1.3% hit to GDP by 2020 - or £850 less for each family. But if the UK doesn't get an agreement, the cost to families could be £1,700 a year. Whatever the trade deal, the CEP is gloomy about the longterm prospects for going it alone. By 2030, in the best case scenario, it predicts we'll be £4,200 poorer, and in the worst that rises to £6,400.

    This article was published by The Daily Mirror on June 6, 2016
    Link to article here

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

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



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

    Le Monde

    « Brexit » : la bataille des chiffres au cœur de la campagne

    Leur salaire baisserait de 48 euros par semaine d’ici la même date, renchérit le Trade Union Congress, la principale confédération syndicale. Les prix des transports augmenteraient de 7,5 % et ceux de l’alcool de 7 %, estime la London School of Economics.

    This article appeared in Le Monde on 5 June 2016. Link to article

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

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

    News Posted: 05/06/2016      [Back to the Top]

    The Ledbury Reporter

    Polish residents who have made Herefordshire home speak out about what Brexit would mean for them

    Recent research by the London School of Economics found that migrants have had no negative effect on UK wages. The research blamed the 2008 recession for lower real salaries rather than a rise in foreign workers, who paid more into UK economy than they took out.

    This article appeared in the Ledbury Reporter on 5 June 2016.Link to article

    Related publications
    ‘Immigration and the UK Labour Market’ Jonathan Wadsworth, CEP Election Analysis No.19, May 2015

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


    News Posted: 05/06/2016      [Back to the Top]

    LSE British Politics and Policy blog

    No one would be spared: how the costs of Brexit would be distributed across households

    That leaving the EU would damage the overall economy is now being treated as more of a fact than a speculation. But those for Brexit argue that the rich will be negatively affected while the poor will benefit. This is not the case, write Holger Breinlich, Swati Dhingra, Thomas Sampson and John Van Reenen. Middle and low income households will be negatively affected as well the rich.

    This article was published online by LSE British Politics and Policy blog on June 3, 2016
    Link to article here

    Related publications
    Who Bears the Pain? How the costs of Brexit would be distributed across income groups, Holger Breinlich, Swati Dhingra, Thomas Sampson and John Van Reenen, CEP Brexit Analysis Series Paper No.07, June 2016
    See the complete set of CEP Brexit Analysis Papers here

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



    News Posted: 03/06/2016      [Back to the Top]

    The Economist

    The fatal contradictions in the Remain and Leave camps

    Even aside from the economic consequences of a Leave vote (and read this LSE demolition of the Brexit case), the immediate future for Britain could be very ugly indeed.

    This article was published by The Economist on June 3, 2016
    Link to article here

    Related publications
    Economists for Brexit: A Critique, Thomas Sampson, Swati Dhingra, Gianmarco Ottaviano and John Van Reenen, CEP Brexit Analysis Paper No. 6, May 2016
    The complete series of Brexit Papers are available online here

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



    News Posted: 03/06/2016      [Back to the Top]

    Wall Street Journal

    This Week's Brexit Briefing

    Here, economists at the Centre for Economic Performance from the same university seek to explain why the economic forecasts of Patrick Minford, one of a minority of economists favoring Brexit, differ from a majority of economists and suggest the U.K. could grow after leaving the EU. In summary, they say that Mr. Minford’s idea to unilaterally reduce import tariffs to zero after leaving the EU would have some economic benefits but nowhere near what Mr. Minford calculates.

    This article appeared in the Wall Street Journal on 3 June 2016. Link to article

    Related publications
    See the complete set of CEP Brexit Analysis research papers here.

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 03/06/2016      [Back to the Top]

    LSE Business Review

    The distributional effects of Brexit: who bears the pain?

    Middle and low income households will be poorer because of Brexit - not just the rich, write Holger Breinlich, Swati Dhingra, Thomas Sampson and John Van Reenen.

    This article was published online by the LSE Business Review blog on June 2, 2016
    Link to article here

    Related publications
    Who Bears the Pain? How the costs of Brexit would be distributed across income groups, Holger Breinlich, Swati Dhingra, Thomas Sampson and John Van Reenen, CEP Brexit Analysis Paper No.07, June 2016

    Related links
    Holger Breinlich webpage
    Swati Dhingra webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Growth Programme webpage
    Trade Programme webpage



    News Posted: 02/06/2016      [Back to the Top]

    BBC World Service

    Business Matters

    John Van Reenen interviewed about Brexit

    This programme was broadcast on BBC World Service on 2 June 2016. Link

    Related publications
    See the complete set of CEP Brexit Analysis research papers here

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 02/06/2016      [Back to the Top]

    Vox

    Nature versus nurture in obesity: New evidence from adoptee data

    Article by Joan Costa-i-Font, Mireia Jofre-Bonet, Julian Le Grand 02 June 2016
    Obesity, particularly in children, is a major health concern in many developed economies, where it presents a costly risk to health services. Any policy response must take into account the inter-generational transmission of overweightness and obesity to children. This column uses evidence from the Health Survey of England to assess the extent to which nature and nurture factors play a role in the overweightness of children. It finds that any effective policy action must tackle parental overweightness to lower rates of overweightness in children.

    This article was published by Vox on June 2, 2016
    Link to article here

    Related publications
    Vertical Transmission of Overweight: Evidence From English Adoptees, Joan Costa Font, Mireia Jofre-Bonet and Julian Le Grand, Centre for Economic Performance Discussion Paper No.1324, January 2015

    Related Links
    Joan Costa Font is an Alumni of the Wellbeing Programme.



    News Posted: 02/06/2016      [Back to the Top]

    The Guardian

    Predictions of recession if UK leaves EU based on 'bizarre assumptions'

    Economists for Brexit group claims that downturn would be avoided if Britain removed all trade barriers after leaving EU
    Economists campaigning for Britain to leave the European Union have accused the Treasury and international institutions of ''groupthink'' in a report that says growth would be boosted if all trade barriers were removed after a leave vote in this month's referendum. ... Prof Patrick Minford said all the studies showing that leaving the EU would have detrimental consequences for the economy were based on the ''same flawed model'' and the ''same damaging assumptions''. ... ''In recent weeks, there has been a relentless stream of output from modelling groups on the topic of Brexit - all of it negative. This has included long-term and short-term reports from not merely the Treasury but also the Centre for Economic Performance at the LSE, PWC, Oxford Economics, the National Institute for Economic and Social Research, the OECD and the IMF,'' Minford said.

    This article was published by The Guardian on June 2, 2016
    Link to article here

    Related publications
    The complete series of Brexit Papers are available online here

    Related links
    Holger Breinlich webpage
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    John Van Reenen webpage
    Thomas Sampson webpage
    Jonathan Wadsworth webpage
    Labour Markets Programme webpage
    Trade Programme webpage
    Growth Programme webpage



    News Posted: 02/06/2016      [Back to the Top]

    IN Facts

    EU immigrants aren't taking Brits' jobs

    Myth: EU immigrants are taking Brits' jobs
    InFact: Researchers at Oxford, the LSE and NIESR agree; immigration doesn't affect British employment. Meanwhile, Brexit would hit jobs.

    Intuitively, if immigrants are taking jobs from British workers, it would seem odd that we're seeing a record high employment rate of 74.2% at a time when immigration is high. This intuition is borne out by a string of academic studies - from the Centre for Economic Policy[sic] at the London School of Economics, the Institute for the Study of Labour, and the Migration Observatory at the University of Oxford - that show EU migrants aren't putting Brits out of work.
    ...''even in the short term EU migration does not appear to have had a negative impact on the employment outcomes of UK natives''. This view is shared by the Centre for Economic Policy [sic], which concluded that ''we can confidently say that the empirical evidence shows that EU immigration has not had significantly negative effects on average employment, wages, inequality or public services at the local level for the UK-born.''

    This article was published online by IN Facts on June 1, 2016
    Link to article here

    Related publications
    Brexit and the Impact of Immigration on the UK, Swati Dhingra, Gianmarco Ottaviano, John Van Reenen and Jonathan Wadsworth, CEP Brexit Analysis Series Paper No.05, May 2016
    Technical Appendix to 'Brexit and the impact of immigration on the UK'
    See the whole series of CEP Brexit Analysis papers here

    Related links
    Jonathan Wadsworth webpage
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    John Van Reenen webpage
    Labour Markets Programme webpage
    Trade Programme webpage
    Growth Programme webpage



    News Posted: 01/06/2016      [Back to the Top]

    Les Echos (France)

    Incalculable Brexit

    Stop everything! According to the OECD, the forum of economic reflection of developed countries, the United Kingdom would lose 5% of its GDP in the 15 years to come slamming the door of the European Union. Treasury, British, evaluates the fall to 6.2% of GDP, equivalent to 5,500 euros per household. This central forecast is part of a range of 3.8 to 7.8%. But the experts of the Center for Economic Performance, the famous London School of Economics, found it too timid. They believe that the impact of the Brexit could be half higher!

    This article was published by Les Echos (France) on June 1, 2016
    Link to article here

    Related publications
    The UK Treasury analysis of 'The long-term economic impact of EU membership and the alternatives': CEP Commentary, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis Series No.4, April 2016
    The consequences of Brexit for UK trade and living standards, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis Series Paper No.02, March 2016
    See Technical Appendix to CEP Brexit Analysis Series Paper No.2 here
    See the complete set of CEP Brexit Analysis research papers here

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage



    News Posted: 01/06/2016      [Back to the Top]

    Welingelichte Kringen (Holland)

    Waarom zoveel mensen kinderen willen, terwijl ze er helemaal niet gelukkig van worden

    Why do so many people want children while they themselves are not happy at all in spirit?
    Also, we have a selective memory. When we look back on our experiences, we remember the highlights, such as the first smile of a child, says economist Nattavudh Powdthavee of the London School of Economics - a phenomenon known as anchoring. By this form of self deception we often overestimate how lucky we were of children or of other things we ever had.

    This article was published online by Welingelichte Kringen on June 1, 2016
    Link to article here

    Related article
    Think having children will make you happy?, Nattavudh Powdthavee, The Psychologist, Vol.22, April 2009.

    Related links
    Nick Powdthavee webpage
    Wellbeing Programme webpage
    Nick Powdthavee CEP publications webpage



    News Posted: 01/06/2016      [Back to the Top]

    BBC World Service

    Brazil's economy shrinks for fifth consecutive quarter

    Also in the programme, just three weeks from the British referendum on leaving the European Union, we bring together two leading economists, Roger Bootle of Capital Economics, and Professor John Van Reenan from the London School of Economics, to discuss the arguments for and against.

    The interview was broadcast by the BBC World Service on June 1, 2016
    Link to the broadcast here [3 mins in]

    Related links
    John Van Reenen webpage
    Growth Programme webpage
    The complete series of CEP Brexit Papers are available online here



    News Posted: 01/06/2016      [Back to the Top]

    BBC News

    EU Referendum Reality Check: Would Brexit cut wages by £38 per week?

    The claim: Trade union umbrella body the TUC says leaving the EU would cut average earnings by £38 per week by 2030.
    Reality Check verdict: The TUC has taken other bodies' forecasts that leaving the EU would lead to slower growth in the economy and used them to predict lower wages. While the precise figures are highly uncertain, if you believe the forecasts for the economy you can also believe that wages would be lower. TUC general secretary Frances O'Grady says: ''Working people will be £38 a week worse off if we leave''. Where has that figure come from? In its report, the TUC has taken the average of the falls in GDP (that's what you get when you add up the value of everything produced in the economy) for 2030, predicted by the OECD, the Treasury and the Centre for Economic Performance at the London School of Economics, as well as the fall in wages expected by the National Institute for Economic and Social Research (NIESR).

    This article was published online by BBC News Reality Check on June 1, 2016
    Link to article here

    Related reports
    Better off in. Working people and the case from remaining in the UK, TUC Report, June 1, 2016.
    [See Table 5.]

    Related publications
    The complete series of Brexit Papers are available online here

    Related links
    Holger Breinlich webpage
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    John Van Reenen webpage
    Thomas Sampson webpage
    Trade Programme webpage
    Growth Programme webpage



    News Posted: 01/06/2016      [Back to the Top]

    Belfast News Letter

    Brexit campaign falls on poor grasp 'basic facts' says report

    Economics experts have blasted key assumptions underpinning the Brexit campaign's financial arguments in favour of leaving the EU. The report by the London School of Economics and Political Science's Centre for Economic Performance (CEP) has been seized on by the Remain campaign to back their warnings that exiting the EU is too dangerous.

    This article was published online by Belfast News Letter on June 1, 2016
    Read more: ...

    Related publications
    Economists for Brexit: A Critique, Thomas Sampson, Swati Dhingra, Gianmarco Ottaviano and John Van Reenen, CEP Brexit Analysis No.06, May 2016
    The complete series of Brexit Papers are available online here

    Related links
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage



    News Posted: 01/06/2016      [Back to the Top]

    BBC Radio 4

    The science of resilience

    Michael Pluess and Richard Layard interviewed about resilience and mental health.

    The interview was broadcast by BBC Radio 4 on May 31, 2016
    Link to interview here

    Related links
    Richard Layard webpage
    Michael Pluess webpage
    Wellbeing Programme webpage



    News Posted: 31/05/2016      [Back to the Top]

    Bloomberg News

    Some cold, hard facts for Brexiteers: Europe's richest nations have a high concentration of foreigners

    The LSE's Centre for Economic Performance said earlier this month that a reduction in immigration into the U.K. if the country votes for a Brexit wouldn't lead to any improvement in living standards for those born in Britain.

    This article was published by Bloomberg News online on May 31, 2016
    Link to article here

    Associated Article
    May 11, 2016
    Bloomberg News online
    'Post-Brexit Immigration Cut 'Wouldn't Boost Living Standards'
    Read full article here

    Related publications
    Brexit and the Impact of Immigration on the UK, Swati Dhingra, Gianmarco Ottaviano, John Van Reenen and Jonathan Wadsworth, CEP Brexit Analysis Paper No.05, May 2016
    See the complete CEP Brexit Analysis Series here

    Related links
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    John Van Reenen webpage
    Jonathan Wadsworth webpage
    Labour Markets Programme webpage
    Trade Programme webpage
    Growth Programme webpage



    News Posted: 31/05/2016      [Back to the Top]

    Investment Adviser

    Fallout forecasts polarise opinion

    The EU referendum debate has started to focus on the economic fallout of a leave vote for the UK - and also for Europe. Research from the Organisation for Economic Co-operation and Development (OECD) released in April suggests a Brexit vote could see UK GDP growth contract by 3.3 per cent by 2020, and by 2030 the central base-case scenario means a GDP contraction of 5.1 per cent. It adds the economic consequences of a leave vote could also spread beyond the UK, with European GDP growth contracting around 1 per cent by 2020. In a speech presenting the findings, however, Angel Gurria, secretary-general of the OECD, said the estimates - not just from the OECD but also the London School of Economics and HM Treasury - ''are too cautious''.

    This article was published online by the FT Investment Adviser on May 30, 2016
    Link to article here

    Related publications
    The UK Treasury analysis of 'The long-term economic impact of EU membership and the alternatives': CEP Commentary, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis Series Paper No.04, April 2016 See the complete set of CEP Brexit Analysis research papers here

    Related links
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage



    News Posted: 30/05/2016      [Back to the Top]

    Lancashire Evening Post

    Pro-Brexit claims are rubbished

    ...financial arguments in favour of leaving the EU. The report by the London School of Economics and Political...

    This article was published by the Lancashire Evening Post on May 30, 2016
    (no link available)

    Related publications
    The UK Treasury analysis of 'The long-term economic impact of EU membership and the alternatives': CEP Commentary, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis Series Paper No.04, April 2016 See the complete set of CEP Brexit Analysis research papers here

    Related links
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage



    News Posted: 30/05/2016      [Back to the Top]

    bdaily.co.uk

    What do UK SME's really think about Brexit?

    What issues have the greatest negative impact on UK businesses?
    Both sides of the debate have argued that there is either too much or very little EU red tape. These confusing arguments haven't helped to clarify the debate. Last month The Treasury cited the LSE Centre for Economic Performance report which stated, ''It is unclear whether there are substantial regulatory benefits from Brexit''. Businesses that took part in the Loc8 Commercial survey however, think red tape is the biggest issue affecting their ability to do business easily with 58%. In addition, the regularity of new EU regulations is the second biggest issue with 35% citing this as a concern, well ahead of immigration, which had a zero score from the businesses that took part in the survey.

    This article was published online by bdaily.co.uk on May 30, 2016
    Link to article here

    Related publications
    The UK Treasury analysis of 'The long-term economic impact of EU membership and the alternatives': CEP Commentary, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis Series, Paper No.04, April 2016
    The complete series of Brexit Papers are available online here

    Related links
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    John Van Reenen webpage
    Thomas Sampson webpage
    Trade Programme webpage
    Growth Programme webpage



    News Posted: 30/05/2016      [Back to the Top]

    lenabellina blog

    That'll do, chimps

    The second programme I heard and was inspired by was this week's Radio 4 'All in the Mind'. The key messages here also chimed with much of my own thinking about the purpose of education, the pressures created by assessment in schools and the need to focus on wellbeing in schools. The programme included a discussion around tests and exams and the mental health of children which involved Lord Layard from The London School of Economics, Dr Berry Billingsley, Associate Professor of Science Education and Reading University and her colleague Tim Williams who is a clinical and educational psychologist. ... Lord Richard Layard who directs the Wellbeing Programme at the London School of Economics then spoke about a project called 'Healthy Mind' which is working with 30 schools around London to try and get data in relation to this issue. Hs opening statement: ''We are trying to help people learn how to live and not just how to pass exams.''

    This article was published online on the lenabellina blog on May 29, 2016
    Link to article here

    Related broadcast
    The full BBC Radio 4 'All in the Mind' Episode can be found here

    Related links
    Richard Layard webpage
    Wellbeing Programme webpage



    News Posted: 29/05/2016      [Back to the Top]

    Bloomberg

    UK consumers would have a 'great time' in Brexit, Minford says

    Britons would benefit from lower prices if the U.K. left the European Union, according to Patrick Minford, a professor at Cardiff University and co-chairman of Economists for Brexit.

    According to Minford, the mistake of Remain campaigners, such as the U.K. Treasury, which has warned of the economic risks of leaving the world’s largest single market, is assuming that both exporters and importers would suffer. His model came in for criticism on Friday. Economists including Thomas Sampson from the London School of Economics wrote in a report that it doesn’t correctly predict the consequences of a so-called Brexit and his policy proposals would actually lead to a decline in living standards. “What the Treasury have done is take the LSE equations and souped them up big time to get even bigger negatives,” Minford said. “It’s all gloom and doom because of exporters. They forget the consumers will have a great time. Prices will come down.”



    News Posted: 27/05/2016      [Back to the Top]

    LSE Business Review blog

    How do ‘Economists for Brexit' manage to defy the laws of gravity?

    The possibility of the UK leaving the European Union (EU) has generated an unusual degree of consensus among economists. Acrimony and rancour surrounded debates around austerity and joining the euro, but analysis from the Bank of England to the OECD to academia has all concluded that Brexit would make us economically worse off. The disagreement is mainly over the degree of impoverishment (for example, Dhingra et al, 2016a; OECD, 2016; HM Treasury, 2016; PWC, 2016; NIESR, 2016). Perhaps the one exception is the recent and much publicised work of 'Economists for Brexit' (2016). Since any coherent economic case for leaving the EU was been largely 'missing in action', it is refreshing to get some clarity over the Leave campaign's vision of the UK's post-Brexit economic arrangements. The only modelling details provided by Economists for Brexit come from Professor Patrick Minford of Cardiff University (Minford, 2015; 2016; Minford et al, 2016). He argues that Brexit will raise the UK's welfare by 4% as a result of increased trade.

    This article was published online by the LSE Business Review blog on May 27, 2016
    Link to article here

    Related publications
    Economists for Brexit: A Critique, Thomas Sampson, Swati Dhingra, Gianmarco Ottaviano and John Van Reenen, CEP Brexit Analysis No.06, May 2016
    The complete series of Brexit Papers are available online here

    Related links
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage



    News Posted: 27/05/2016      [Back to the Top]

    CEP Brexit Analyses

    ‘ECONOMISTS FOR BREXIT': A critique

    The latest in a series of #CEPBrexit reports, published by the Centre for Economic Performance (CEP) at the London School of Economics, explains how the 'Economists for Brexit' fail to grasp basic facts about the nature of regulation, product standards and international trade.

    This article appeared in CEP Brexit Analyses on 27 May 2016. Link to article

    Related publications
    ‘Economists for Brexit: A Critique’ Thomas Sampson, Swati Dhingra, Gianmarco Ottaviano and John Van Reenen, CEP Brexit Analysis No.06, May 2016 The complete series of Brexit Papers are available online here

    Related links
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 27/05/2016      [Back to the Top]

    Left Foot Forward

    European freedom of movement is a class issue

    Last week yet another report, this time from the London School of Economics, concluded that there is no evidence of an overall negative impact of immigration on jobs or wages.

    This article apperaed in Left Foot Forward on 27 May 2016 Link to article

    Related publications
    ‘Immigration and the UK Labour Market’, Jonathan Wadsworth, CEP Election Analysis No.19, May 2015

    Related links
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    John Van Reenen webpage
    Jonathan Wadsworth webpage
    Labour Markets Programme webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 27/05/2016      [Back to the Top]

    Stuff.co.nz (New Zealand)

    Business Day - Janine Starks: The rise of the kipper children, sucking your wallet dry

    In keeping with the fishy origins, it seems "kippers" are on the rise. Kippers? Yes, you heard it correctly. Some wag has come up with Kids In Parents Pockets Eroding Retirement Savings. It's even better than generation app – Adults whose Parents Pay.

    The worst offenders in the world seem to be the Italians with a reported eight out of 10 men aged 18 to 30 living with their mammas.

    Unfortunately the researchers Manacorda and Moretti don't give us the stats on women, but Britain's Office of National Statistics reports twice as many male kippers than female kippers.



    News Posted: 26/05/2016      [Back to the Top]

    The Telegraph

    Education: Free childcare 'has made no improvement in primary school exam results', research shows

    Free nursery care for three year olds has made little or no improvement in primary school exam results, a nine-year study has revealed as academics say the Labour policy has had 'no impact'. ... However, the first and largest study on how effective the policy has been has shown there has been little in the way of academic improvement for children age 7 and 11. ... Dr Jo Blanden, one of the researchers and senior lecturer in economics at the University of Surrey, said the policy was not effective because free care was of lesser quality than private one.

    This article was published by The Telegraph on May 24, 2016
    Link to article here

    Related publications
    Universal Pre-School Education: The Case of Public Funding with Private Provision, Jo Blanden, Emilia Del Bono, Sandra McNally and Birgitta Rabe, Centre for Economic Performance Discussion Paper No.1352, May 2015

    Related links
    Jo Blanden webpage
    Sandra McNally webpage
    Education and Skills Programme webpage



    News Posted: 24/05/2016      [Back to the Top]

    BBC Radio 4 'All in the Mind' programme

    Exams and the mental health of children. A community approach to suicide prevention

    As every summer, exams are in the news. We look at whether the pressure to do well in exams is having an effect on children's mental health. We speak to experts from Education, Psychology and Economics who are now working together to address the wider issue of the effect of Britain's current education system on our children's wellbeing.

    CEPs Richard Layard interviewed on the BBC Radio 4 programme 'All in the Mind' on May 24, 2016
    Link to broadcast here

    Related links
    Richard Layard webpage
    Wellbeing Programme webpage



    News Posted: 24/05/2016      [Back to the Top]

    The Washington Post

    Scientists have figured out exactly how much fun it is to get drunk

    In other words, most people get drunk because it's fun. This is why some new research from Britain is so important: It attempts to quantify exactly how much happiness we derive from that glass of wine or bottle of beer. And it does so using a massive real-time data set — the Mappiness app, a free iPhone app that pings people a few random times a day and asks them how happy they are on a scale of 1 to 100.

    This article appeared in the Washington Post on 24 May 2016. 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 CEP Alumni
    Labour Markets Programme webpage

    News Posted: 24/05/2016      [Back to the Top]

    Full Fact

    Stronger In ''facts'' leaflet: lower prices

    Claim Being in Europe means lower prices in UK shops, saving the average UK household over £350 a year. If we left Europe, your weekly shop could cost more.

    Conclusion This isn’t the impact of being in the EU as such, but one estimate of the impact of the free trade deals the EU has negotiated—a saving of 1.27% for the average household. It’s difficult to say overall what the impact of being in the EU has had on prices in the UK.

    “Being in Europe means lower prices in UK shops, saving the average UK household over £350 a year. If we left Europe, your weekly shop could cost more”.

    London School of Economics’ Centre for Economic Performance

    The research this figure is based on found that free trade agreements negotiated by the EU had led to lower prices for imported goods that UK consumers buy. The researchers say that’s because free trade agreements remove or reduce import taxes called tariffs on goods from outside the EU, which increases the flow of those goods into the EU market, which increases competition and in turn leads to better quality products and lower prices.

     



    News Posted: 23/05/2016      [Back to the Top]

    Full Fact

    Stronger In 'facts' leaflet: leaving

    Claim Leaving the EU would cost the average UK household at least £850 a year, and potentially as much as £1,700, according to research released by the London School of Economics.

    Conclusion These figures don’t tell you how much you or your family would lose, but they point in the same direction as most other economic analysis seems to.

    "Leaving the EU would cost the average UK household at least £850 a year, and potentially as much as £1,700, according to research released by the London School of Economics."

    London School of Economics’ Centre for Economic Performance

     



    News Posted: 23/05/2016      [Back to the Top]

    Accuracy in Academia

    Do colleges + universities=economic growth?



    News Posted: 23/05/2016      [Back to the Top]

    CEPS

    Brexit - A last testament

    There has been an impressive wealth of serious studies on the macroeconomic consequences of secession in the short, medium and long term (UK Treasury, Bank of England, London School of Economics, OECD, IMF), all of which point to significant damage to the UK economy.

    This article appeared on CEPS on 23 May 2016. Link to article

    Related Publications
    See the complete set of CEP Brexit Analysis research papers here.

    Related Links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 23/05/2016      [Back to the Top]

    International Business Times

    'Does Britain really want DIY recession?' asks George Osborne one month before EU referendum

    'Does Britain really want DIY recession?' asks George Osborne one month before EU referendum "When this is being backed up by the International Monetary Fund, the OECD, the London School of Economics, eight former US Treasury secretaries, the President of the United States of America, businesses big and small, every one of our allies and trading partners and the Governor of the Bank of England, it isn't a conspiracy but a consensus."

    This article appeared in the International Business Times on 23 May 2016 Link to article

    Related Publications
    See the complete set of CEP Brexit Analysis research papers here

    Related Links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 23/05/2016      [Back to the Top]

    City AM

    Sajid Javid: Brexit warnings are ''not a conspiracy'' - it will cost 500,000 UK jobs

    Responding to Hilton’s article, Javid said: “Steve is entitled to his view … the central issue here is that economically, we are far better off being part of this single market … Now you have the Bank of England, the IMF [International Monetary Fund], the OECD [Organisation for Economic Co-operation and Development], the London School of Economics, the OBR [Office for Budget Responsibility], the IFS [Institute for Fiscal Studies], every one of our allies, every one of our trading partners and that is not a conspiracy, that’s a consensus about what would happen if we left the EU.”

    This article appeared in City AM on 23 May 2016. Link to article

    Related Links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 23/05/2016      [Back to the Top]

    Daily Mail

    Tories at war: Iain Duncan Smith accuses former Cabinet colleague of being two-faced over the EU as tensions escalate with a month to go before

    Responding to Hilton’s article, Javid said: “Steve is entitled to his view … the central issue here is that economically, we are far better off being part of this single market … Now you have the Bank of England, the IMF [International Monetary Fund], the OECD [Organisation for Economic Co-operation and Development], the London School of Economics, the OBR [Office for Budget Responsibility], the IFS [Institute for Fiscal Studies], every one of our allies, every one of our trading partners and that is not a conspiracy, that’s a consensus about what would happen if we left the EU.”

    This article was published by the Daily Mail on May 23, 2016
    Link to article here

    Related publications
    See the complete set of CEP Brexit Analysis research papers here

    Related Links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 23/05/2016      [Back to the Top]

    The Guardian

    Duncan Smith's claim that Sajid Javid backs Brexit 'simply not true'

    Responding to Hilton’s article, Javid said: “Steve is entitled to his view … the central issue here is that economically, we are far better off being part of this single market … Now you have the Bank of England, the IMF [International Monetary Fund], the OECD [Organisation for Economic Co-operation and Development], the London School of Economics, the OBR [Office for Budget Responsibility], the IFS [Institute for Fiscal Studies], every one of our allies, every one of our trading partners and that is not a conspiracy, that’s a consensus about what would happen if we left the EU.”

    This article appeared in the Guardian on 23 May 2016. Link to article

    Related publications
    See the complete set of CEP Brexit Analysis research papers here

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 23/05/2016      [Back to the Top]

    BBC News Online

    Brexit forecasts can be wrong, it doesn't mean they are pointless

    Brexit forecasts can be wrong, it doesn't mean they are pointless In that assessment, it finds allies in the IMF, the Bank of England, the London School of Economics and the National Institute of Economic and Social Research.

    This article appeared on BBC News Online on 23 May 2016 Link to article

    Related publications
    See the complete set of CEP Brexit Analysis research papers here

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 23/05/2016      [Back to the Top]

    Times of Malta Online

    What's at stake in the UK's EU vote

    The claim, however, that migration is a drain on the welfare state is false. EU migrants for the most part move to Britain to work, and a study by the London School of Economics has shown that they are net contribu¬tors to the economy as a result of the taxes they pay.

    This article appeared in the Times of Malta Online on 23 May 2016. Link to article

    Related publications
    Brexit and the Impact of Immigration on the UK, Swati Dhingra, Gianmarco Ottaviano, John Van Reenen and Jonathan Wadsworth, CEP Brexit Analysis Paper No.05, May 2016
    See the complete CEP Brexit Analysis Series here

    Related links
    Jonathan Wadsworth webpage
    Labour Markets Programme webpage

    News Posted: 23/05/2016      [Back to the Top]

    The Daily Telegraph

    'Turn our backs on the EU and risk losing hundreds of thousands of jobs'

    When this is being backed up by the International Monetary Fund, the OECD, the London School of Economics, eight former US Treasury secretaries, the President of the United States of America, businesses big and small, every one of our allies and trading partners and the Governor of the Bank of England, it isn’t a conspiracy but a consensus.

    This article appeared in the Daily Telegraph on 23 May 2016. Link to article

    Related publications
    See the complete set of CEP Brexit Analysis research papers here.

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage

    News Posted: 23/05/2016      [Back to the Top]

    Daily Mail

    Osborne warns Brexit will force us into 'DIY' recession

    The Chancellor and the PM have also rejected claims they are scaremongering [about Brexit]. They wrote in the Daily Telegraph: ‘When this is being backed up by the International Monetary Fund, the OECD, the London School of Economics…it isn’t a conspiracy but a consensus. We are clear, as is the vast majority of the Conservative Cabinet: this is simply a price that is not worth paying.’

    This article appeared in The Daily Mail on 23 May 2016. Link to article

    Related publications
    See the complete set of CEP Brexit Analysis research papers here.

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage

    News Posted: 23/05/2016      [Back to the Top]

    Vox

    Liberation technology: mobile phones and political mobilisation in Africa

    Article by Marco Manacorda and Andrea Tesei
    Digital technologies have been widely used for political activism in recent years, including during the Arab Spring, the Occupy Wall Street movement, and the Indignados movement in Spain. This column reports research showing that the growing use of mobile phones in Africa leads to more political protests during recessions and periods of national crisis. The mobilising potential of digital technologies is more pronounced in autocratic countries and those where the raditional media are under state control, suggesting that this technology may play a key role in fostering political freedom.

    This article was published online by Vox on May 22, 2016
    Link to article here

    Related publications
    Liberation Technology: Mobile Phones and Political Mobilization in Africa, Marco Manacorda and Andrea Tesei, Centre for Economic Performance Discussion Paper No.1419, March 2016

    Related links
    Marco Manacorda webpage
    Labour Markets Programme webpage



    News Posted: 22/05/2016      [Back to the Top]

    Market Inspector

    Would TTIP be a good deal for European Citizens?

    According to Dennis Novy, Associate Professor of Economics at the University of Warwick: ''TTIP has the potential to benefit millions of consumers. It goes far beyond an economic project. Its current timetable seems ambitious. Without considerable attention and support from the highest levels of government, it will be hard to lead TTIP to a successful conclusion any time soon''.

    This article was published online by Market Inspector on May 20, 2016
    Link to article here

    Related links
    Dennis Novy webpage
    Trade Programme webpage
    Dennis Novy CEP publications webpage



    News Posted: 20/05/2016      [Back to the Top]

    China Daily

    Brexit would entail huge economic costs for UK

    The London School of Economics' Centre for Economic Performance calculates that the long-term costs to the UK of lower trade with the EU could be as high as 9.5 percent of its GDP, while the fall in foreign investment could cost 3.4 percent of its GDP or more. Those costs alone dwarf the potential gains. The UK's net contribution to the EU budget amounted to only 0.35 percent of its GDP last year, and scrapping EU regulation would bring limited benefits, because the UK's labor and product markets are already among the freest in the world.

    This article appeared in China Daily on 20 May 2016. Link to article

    Related publications
    See the complete set of CEP Brexit Analysis research papers here

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage

    News Posted: 20/05/2016      [Back to the Top]

    The New York Times

    'Brexit,' a Feel-Good Vote That Could Sink Britain's Economy

    ''The pro-Brexit argument that Britain will be free of lots of regulations, that there will be a bonfire of red tape that will cause us to grow rapidly and we'll strike lots of new trade deals as this buccaneering new England - there's just no credible scenario to any of that,'' said John Van Reenen, director of the Center for Economic Performance at the London School of Economics. ''There aren't anything like the game-changing propositions that the pro-Brexit camp is putting forward.''

    This article was published by The New York Times on May 20, 2016
    Link to article here

    Related publications
    See the complete set of CEP Brexit Analysis research papers here

    Related links
    John Van Reenen webpage
    Growth Programme webpage


    News Posted: 20/05/2016      [Back to the Top]

    The Guardian

    Are EU migrants really taking British jobs and pushing down wages?

    The most recent research from the centre for economic performance at the London School of Economics says ''the areas of the UK with large increases in EU immigration did not suffer greater falls in the jobs and pay of UK-born workers. The big falls in wages after 2008 are due to the global financial crisis and a weak economic recovery, not to immigration.'' ... The LSE's Jonathan Wadsworth said: ''The bottom line, which may surprise many people, is that EU immigration has not harmed the pay, jobs or public services enjoyed by Britons. In fact, for the most part it has likely made us better off. So, far from EU immigration being a ''necessary evil'' that we pay to get access to the greater trade and foreign investment generated by the EU single market, immigration is at worse neutral, and at best, another economic benefit.''

    This article was published in The Guardian on May 20, 2016
    Link to article here

    Related publications
    Brexit and the Impact of Immigration on the UK, Swati Dhingra, Gianmarco Ottaviano, John Van Reenen and Jonathan Wadsworth, CEP Brexit Analysis Paper No.05, May 2016
    See the complete CEP Brexit Analysis Series here

    Related links
    Jonathan Wadsworth webpage
    Labour Markets Programme webpage


    News Posted: 20/05/2016      [Back to the Top]

    BBC 6 o'clock News

    BBC 1

    John Van Reenen interviewed about migration figures

    This programme was broadcast on 19 May 2016 (no link available)

    Related publications
    See the complete set of CEP Brexit Analysis research papers here.

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 19/05/2016      [Back to the Top]

    LSE British Politics and Policy blog

    What is Brexit-related uncertainty doing to UK growth?

    The UK will soon vote on whether to end its 43-year membership in the European Union. Opinion polls suggest the vote is too close to call, with the ''stay'' and ''leave'' side switching leads on a regular basis, and this uncertainty is reflected in swings in the stock market, explains Nicholas Bloom. Using data from the Economic Policy Uncertainty Index, he explains why the uncertainty could be having a material negative impact on the UK's economic performance.

    This article was published by the LSE British Politics and Policy blog on May 19, 2016
    Link to article here

    Related links
    Nicholas Bloom webpage
    Growth Programme webpage



    News Posted: 19/05/2016      [Back to the Top]

    BBC News

    Number 10 downplays EU migrant figures

    Prof John Van Reenen, director at the Centre for Economic Performance at the London School of Economics, says that while it may be tempting to assume that Europeans are taking jobs that might otherwise go to British workers, the overall picture is far more complex.

    This article was published online by the BBC News on May 19, 2016
    Link to article here

    Related publications
    See the complete CEP Brexit Analysis Series here

    Related links
    John Van Reenen webpage
    Growth Programme webpage



    News Posted: 19/05/2016      [Back to the Top]

    CityLab

    The complex relationship between data and cities

    There's been no shortage of hype about the relationship between cities and data, especially so-called big data. For large numbers of tech companies, cities, and even a growing number of urbanists, data promises to solve all manner of urban problems, from predictive policing to improving traffic flow to promoting energy efficiency. An even bigger potential role for new kinds of data lies in helping researchers and policy-makers better understand how cities and neighborhoods grow and evolve - but only if done right.
    Not all data from new sources qualifies as ''big data'', which - as its name implies - refers to truly massive amounts of information. Max Nathan of the London School of Economics breaks down actual big data into three key categories: internet data from sites like Yelp, Twitter, or Google and other commercial data, government-sponsored data collected by cities or towns, and Census and related data.

    This article was published online by CityLab on May 18, 2016
    Link to article here

    Related publications
    Mapping Digital Businesses with Big Data: some early findings from the UK, Max Nathan and Anna Rosso, Research Policy, 44(9), November 2015.

    Related links
    Max Nathan webpage
    Urban Programme webpage



    News Posted: 18/05/2016      [Back to the Top]

    Economic and Social Research Council News

    School ban on mobile phones helping pupils

    Research for the Centre for Economic Performance at the LSE examines the impact of mobile phone bans on pupils' academic achievement in subsequent years. The researchers, Louis Philippe Beland at Louisiana State University, and Richard Murphy at the University of Texas at Austin, surveyed schools in Birmingham, Leicester, London and Manchester about their mobile phone policies since 2001 and combined it with results data from externally marked national exams.

    This article was published online by the Economic and Social Research Council (ESRC) on May 18, 2016
    Link to article here

    This article was originally published in the ESRC's Britain in 2016 magazine. See here

    Related publications
    In brief... Phone home: should mobiles be banned in schools?, Louis-Philippe Beland and Richard Murphy. Article in CentrePiece Volume 20, Issue 1, Summer 2015
    Ill Communication: Technology, Distraction & Student Performance, Louis-Philippe Beland and Richard Murphy, Centre for Economic Performance Discussion Paper No.1350, May 2015

    Related links
    Richard Murphy webpage
    Education and Skills Programme webpage



    News Posted: 18/05/2016      [Back to the Top]

    BBC 1

    Lose Weight for Love

    Behavioural specialist Paul Dolan features on documentary following couples locked in a cycle of overeating

    This programme was broadcast on BBC 1 on 18 May 2016. Link

    Related Links
    Paul Dolan webpage
    Wellbeing Programme webpage

    News Posted: 18/05/2016      [Back to the Top]

    The Financial Times

    Number of EU nationals working in UK reaches record level

    Jane Collins, employment spokesman for the pro-Brexit United Kingdom Independence party, said the 2.1m EU nationals working in Britain were ''a huge boon to multinational companies who can exploit the oversupply of labour to keep their wages low.'' However, John Van Reenen, director of the Centre for Economic Performance at the London School of Economics, rebuffed that argument and said workers would suffer badly in the event of Brexit. ''There is no evidence that EU immigration does much harm to the jobs or pay of British people. By contrast, Brexit will inflict major damage on the real wages of ordinary workers by damaging trade, investment and productivity.''

    This article was published by The Financial Times on May 18, 2016
    Link to article here

    Related publications
    Brexit and the Impact of Immigration on the UK, Swati Dhingra, Gianmarco Ottaviano, John Van Reenen and Jonathan Wadsworth, CEP Brexit Analysis Paper No.05, May 2016
    See the complete CEP Brexit Analysis Series here

    Related links
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    John Van Reenen webpage
    Jonathan Wadsworth webpage
    Labour Markets Programme webpage
    Trade Programme webpage
    Growth Programme webpage



    News Posted: 18/05/2016      [Back to the Top]

    The Financial Times

    Brexit would hit UK growth and impede foreign investment

    However, if there is one thing we as investors don’t like, it is economic uncertainty. As several important bodies have said — the International Monetary Fund, Bank of England, London School of Economics, the Treasury and others — leaving the EU would mean a shock to the UK economy, hurting growth, job creation and foreign investment.

    This article appered in the Financial Times on 18 May 2016. Link to article

    Related publications
    See the complete set of CEP Brexit Analysis research papers here

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage


    News Posted: 18/05/2016      [Back to the Top]

    The Guardian

    Would Brexit affect my business's IP rights in Europe?

    As the EU referendum draws closer, our expert panel answers a question from one of our readers about the potential effect on small businesses' intellectual property.
    What would Brexit mean for my business's intellectual property rights in Europe?

    Swati Dhingra:
    Assistant professor at the department of economics at the London School of Economics, researching international economics, globalisation and industrial policy. Co-author of the recent 'Life after Brexit' report by LSE's centre for economic performance, which looked at the UK's options outside the EU.

    Intellectual property (IP) protected through European mechanisms such as the European Patent Office, would continue to prevail after Brexit. But Britain would need to legislate on what happens to protections granted through EU directives such as the community trade mark. Many IP lawyers believe Britain would adopt these EU directives into its own law, so there should be a fairly smooth transition of protection under Brexit.

    This article was published online by The Guardian on May 18, 2016
    Link to article here

    Related publications
    Life after Brexit: What are the UK's options outside the European Union?, Swati Dhingra and Thomas Sampson, CEP Brexit Analysis No.01, February 2016
    See the complete CEP Brexit Analysis Series here

    Related links
    Swati Dhingra webpage
    Trade Programme webpage



    News Posted: 18/05/2016      [Back to the Top]

    The Conversation

    Why is the academic consensus on the cost of Brexit being ignored?

    Two issues dominate the EU referendum debate: economics and immigration. When it comes to my field of economics, polling evidence suggests that if people became convinced that they would be worse off by leaving, even if it was by quite modest amounts such as £100 a year, the majority voting to remain would be pretty large. Studies by economists at the highly respected London School of Economics, National Institute of Economic and Social Research, the Organisation for Economic Co-operation and Development and the Treasury all suggest that on average we would be worse off by an amount that is more than ten times that £100 figure.

    This article was published online by The Conversation on May 17, 2016
    Link to article here

    Related publications
    See the complete CEP Brexit Analysis Series here

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Jonathan Wadsworth webpage
    Labour Markets Programme webpage
    Trade Programme webpage
    Growth Programme webpage



    News Posted: 17/05/2016      [Back to the Top]

    The Jordan Times

    The economic consequences of Brexit

    The London School of Economics' Centre for Economic Performance calculates the long-term costs to Britain of lower trade with the EU could be as high as 9.5 per cent of GDP, while the fall in foreign investment could cost 3.4 per cent of GDP or more.

    This article was published online by The Jordan Times on May 17, 2016
    Link to article here

    Related publications
    Life after Brexit: What are the UK's options outside the European Union?, Swati Dhingra and Thomas Sampson, CEP Brexit Analysis No.01, February 2016
    The consequences of Brexit for UK trade and living standards, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis No.02, March 2016.
    Download the accompanying Technical Paper here
    The impact of Brexit on foreign investment in the UK, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis No.03, April 2016
    See the complete CEP Brexit Analysis Series here

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage



    News Posted: 17/05/2016      [Back to the Top]

    Mail and Guardian (South Africa)

    Governments and business must do more to combat Africa's biggest threat

    Recently Gabriel Zucman, of the London School of Economics, estimated that $7.6-trillion of global cross-border wealth is being held in tax havens. This figure includes only financial assets. If it also accounted for assets such as art, jewellery and property, it could be two or three times that amount.

    This article was published by the Mail and Guardian (South Africa) on May 16, 2016
    Link to article here

    Related publications
    Wealth Inequality in the United States since 1913: Evidence from Capitalized Income Tax Data, Emmanuel Saez, Gabriel Zucman, PEP Paper No.26, August 2015
    Inequality: Are we really 'all in this together'?, Gabriel Zucman, Centre for Economic Performance Election Analysis No.30, April 2015

    Related links
    Gabriel Zucman webpage
    Growth Programme webpage



    News Posted: 16/05/2016      [Back to the Top]

    Herald Scotland

    Chancellor George Osborne warns on Brexit conspiracy theories as Ed Balls and Sir Vince Cable join EU debate

    "They join a line of observers that range from the OECD to the London School of Economics to the eight former US treasury secretaries to the president of the United States of America, to the prime minister of Japan, to the leaders of Australia and New Zealand," said the Chancellor. "Indeed every member of the G20, every one of our major trading partners and every major international financial institution has been unequivocal that leaving the EU would come at an economic cost."

    This article appeared in the Herald Scotland on 16 May 2016. Link to article

    Related publications

    See the complete set of CEP Brexit Analysis research papers here.

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage

    News Posted: 16/05/2016      [Back to the Top]

    Bloomberg

    Leaving the EU's Single Market would be a 'one way ticket to a poorer Britain', warns Chancellor

    With major interventions from both the Bank of England and the International Monetary Fund (IMF) joining a line of observers ranging from the Institute of Fiscal Studies (IFS) to the Organisation for Economic Cooperation and Development (OECD) to the London School of Economics (LSE), to the leaders of every member of the G20, their unequivocal message has been the same: Britain and its people will be poorer if the UK left the EU.

    This article appeared on Bloomberg on 16 May 2016. Link to article

    Related publications
    See the complete set of CEP Brexit Analysis research papers here.

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage

    News Posted: 16/05/2016      [Back to the Top]

    Financial Times

    Reinsurer provides lifeboat for flood victims

    A paper published in February by the University of Oxford and the London School of Economics said that surface water risks are rising and argued that “it remains unclear if and how Flood Re will be able to cope with future risks and fulfil its tasks”.

    This article appeared in the Financial Times on 16 May 2016. Link to article

    Related publications
    Flooded Cities, Adriana Kocornik-Mina, Thomas K. J. McDermott, Guy Michaels and Ferdinand Rauch. Article in CentrePiece, Volume 20, Issue 3, Winter 2015/16
    'Flooded Cities', Adriana Kocornik-Mina, Thomas K. J. McDermott, Guy Michaels and Ferdinand Rauch, Centre for Economic Performance Discussion Paper No.1398, December 2015

    Related links
    Guy Michaels webpage
    Ferdinand Rauch webpage
    Labour Markets Programme webpage

    News Posted: 16/05/2016      [Back to the Top]

    Gazata Do Povo

    Salario minimo entra na rota das reformas economicas de Temer

    Em uma entrevista ao jornal Financial Times, o professor Alan Manning, da London School of Economics, diz que em sua visao sobre a historia dos salarios minimos, ele sempre se surpreendeu com como e possivel aumenta-lo sem prejudicar as perspectivas de emprego.
    In an interview with the Financial Times newspaper, professor Alan Manning, of the London School of Economics, says that in his view on the history of the minimum wage, he is always surprised with how you can increase it without harming the prospects of employment.

    This article was published by Gazeta Do Povo (Brazil) on May 16, 2016
    Link to article here

    Related publications
    Minimum wages: the economics and the politics, Alan Manning. Article in CentrePiece, Volume 19, Issue 1, Spring 2014
    Big ideas: The UK's National Minimum Wage, Alan Manning. Article in CentrePiece, Volume 14, Issue 2, Autumn 2009

    Related links
    Alan Manning webpage
    Labour Markets Programme webpage
    Community Programme webpage



    News Posted: 16/05/2016      [Back to the Top]

    Economia

    The economic consequences of a UK exit from the EU

    The London School of Economics' Centre for Economic Performance calculates that the long-term costs to Britain of lower trade with the EU could be as high as 9.5% of GDP, while the fall in foreign investment could cost 3.4% of GDP or more. Those costs alone dwarf the potential gains from a British exit. The UK's net contribution to the EU budget amounted to only 0.35% of GDP last year, and scrapping EU regulation would bring limited benefits, because the UK's labour and product markets are already among the freest in the world.

    This article was published by Economia on May 16, 2016
    Link to article here

    Related publications
    The consequences of Brexit for UK trade and living standards, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis No.02, March 2016.
    Download the accompanying Technical Paper here
    See the complete CEP Brexit Analysis Series here

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage



    News Posted: 16/05/2016      [Back to the Top]

    Mainly Macro blog

    Brexit, immigration and £100

    With so many heavyweights, from Barack Obama to Mark Carney, saying that we will be worse off with Brexit, why are the polls still neck and neck? There seem to me two reasonable explanations: that the tabloid media have a strong influence, and that immigration is a big issue among voters. But perhaps the two are connected, for reasons that will become clear. ... For a very good and simple explanation of the facts about recent EU immigration, see this LSE analysis.

    This article was published online in the Mainly Macro blog on May 16, 2016
    Link to article here

    Associated CEP articles
    Immigration from the EU is not a 'necessary evil' and does not drag down wages, Jonathan Wadsworth, Swati Dhingra, Gianmarco Ottaviano and John Van Reenen, LSE BrexitVote blog, May 11, 2016

    Related publications
    Brexit and the Impact of Immigration on the UK, Swati Dhingra, Gianmarco Ottaviano, John Van Reenen and Jonathan Wadsworth, CEP Brexit Analysis Paper No.05, May 2016
    See the complete CEP Brexit Analysis Series here

    Related links
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    John Van Reenen webpage
    Jonathan Wadsworth webpage
    Labour Markets Programme webpage
    Trade Programme webpage
    Growth Programme webpage



    News Posted: 16/05/2016      [Back to the Top]

    Project Syndicate

    The economic consequences of Brexit

    The London School of Economics' Centre for Economic Performance calculates that the long-term costs to Britain of lower trade with the EU could be as high as 9.5% of GDP, while the fall in foreign investment could cost 3.4% of GDP or more. Those costs alone dwarf the potential gains from Brexit. Britain's net contribution to the EU budget amounted to only 0.35% of GDP last year, and scrapping EU regulation would bring limited benefits, because the UK's labor and product markets are already among the freest in the world.

    This article was published online by Project Syndicate on May 16, 2016
    Link to article here

    Related publications
    See the complete set of CEP Brexit Analysis research papers here.

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage



    News Posted: 16/05/2016      [Back to the Top]

    Wessex FM

    Brexit 'last thing economy needs', warns PM

    ...of England, the Organisation for Economic Co-operation and Development, London School of Economics and Confederation of ...

    This broadcast was made by Wessex FM on May 14, 2016
    (no link available)

    Related publications
    Brexit and the Impact of Immigration on the UK, Jonathan Wadsworth, Swati Dhingra, Gianmarco Ottaviano and John Van Reenen, CEP Brexit Analysis Series No.5, May 2016
    See the complete set of CEP Brexit Analysis research papers here.

    Related links
    Jonathan Wadsworth webpage
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    John Van Reenen webpage
    Labour Markets Programme webpage
    Trade Programme webpage
    Growth Programme webpage



    News Posted: 14/05/2016      [Back to the Top]

    Guardian

    Every household told: sign up now to vote in 'historic' EU poll

    The prime minister, campaigning in his Oxfordshire constituency, said people had 40 days to make up their minds about which side to take in what would be ''the choice of a generation''. Urging people to take on board warnings from the IMF, the OECD, the Bank of England, the London School of Economics and the Treasury about the potential economic damage from Brexit, Cameron said leaving the EU and its single market ''would be a terrible thing for our economy''.

    This article was published online by the Guardian on May 14, 2016
    Link to article here

    Related publications
    See the complete CEP Brexit Analysis Series here

    Related links
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Trade Programme webpage
    Growth Programme webpage



    News Posted: 14/05/2016      [Back to the Top]

    LSE British Politics and Policy blog

    Immigration from the EU is not a 'necessary evil' and does not drag down wages

    A major argument of the Leave campaign is that Brexit would give the UK more control over the flow of EU immigrants, who have supposedly hurt the jobs and pay of British workers. Research by Jonathan Wadsworth, Swati Dhingra, Gianmarco Ottaviano and John Van Reenen shows that far from EU immigration being a 'necessary evi'l of being in the EU Single Market, immigration is at worst neutral and at best, an economic benefit of EU membership.

    This article was published online by the LSE British Politics and Policy blog on May 13, 2016
    Link to article here

    Related publications
    Brexit and the Impact of Immigration on the UK, Jonathan Wadsworth, Swati Dhingra, Gianmarco Ottaviano and John Van Reenen, CEP Brexit Analysis Series Paper No.05, May 2016
    Technical Appendix to 'Brexit and the impact of immigration on the UK'
    See the whole series of CEP Brexit Analysis papers here

    Related links
    Jonathan Wadsworth webpage
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    John Van Reenen webpage
    Labour Markets Programme webpage
    Trade Programme webpage
    Growth Programme webpage



    News Posted: 13/05/2016      [Back to the Top]

    Morning Star

    Brexit does reduce the fiscal deficit

    According to various studies at the Centre for Economic Performance (CEP) of the London School of Economics, Brexit does reduce the fiscal deficit. That would be, according to CEP, the main benefit. The principal cost would be less trade with the European Union. A big uncertainty in these studies is what it means to be outside the EU, since there is no exit agreement. How high would tariffs and other trade barriers be? In a static model, with no changes, for example, in productivity, the CEP analyses predict a cost between 1.3% and 2.6% of GDP.

    Besides trade and fiscal costs, a big factor in the long term is immigration. The UK has historically been a magnet for migrants. The educated ones are attracted by The City; the unskilled ones find jobs at the low end of the services industry. This would remain true, at least in the medium term, inside or outside the EU, but Brexit would presumably reduce entry of EU citizens. European immigrants contribute positively to UK's finances and, perhaps, productivity as well. After immigration and foreign direct investment, and their effect on productivity, are baked in, the cost estimated by CEP rises to 6%-9% of GDP.

    This article was published by the Morning Star on May 13, 2016
    Link to article here

    Related publications
    See the complete CEP Brexit Analysis Series here

    Related links
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Jonathan Wadsworth webpage
    Labour Markets Programme webpage
    Trade Programme webpage
    Growth Programme webpage



    News Posted: 13/05/2016      [Back to the Top]

    The Independent

    EU immigration has no negative impact on British wages, jobs or public services, research finds

    EU immigration to the UK has not harmed British peoples' access to jobs, public services or incomes, a major study has concluded. The report, by the London School of Economics, has dispelled a number of 'myths' or misconceptions about the impact of immigration on the UK. It has been published as part of a series of research publications to be released between now and the EU referendum on 23 June. ... Report author Jonathan Wadsworth said: ''The bottom line, which may surprise many people, is that EU immigration has not harmed the pay, jobs or public services enjoyed by Britons. EU immigrants pay more in taxes than they use in public services and therefore they help to reduce the budget deficit.''

    This article was published by the Independent on May 12, 2016
    Link to article here

    See also
    May 13, 2016
    Press Reader.com (USA)
    Major new study debunks immigration 'myths'

    Related publications
    Brexit and the Impact of Immigration on the UK, Jonathan Wadsworth, Swati Dhingra, Gianmarco Ottaviano and John Van Reenen, CEP Brexit Analysis Series No.5, May 2016
    See the complete set of CEP Brexit Analysis research papers here.

    Related links
    Jonathan Wadsworth webpage
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    John Van Reenen webpage
    Labour Markets Programme webpage
    Trade Programme webpage
    Growth Programme webpage



    News Posted: 12/05/2016      [Back to the Top]

    In Facts - Why Britain Should Stay in the EU

    Bank of England governor: Brexit could trigger recession

    Brexit uncertainty ''would tend to push up risk premia'', as InFacts has already pointed out. Funding costs for banks could go up, as would borrowing costs for homeowners and consumers. The UK's current account deficit is high, and a weaker outlook for the British economy ''could call into question'' our ability to finance it by attracting savings from abroad, with further consequences for growth. In giving this warning, the Bank of England joins the National Institute for Economic and Social Research, the Treasury, the OECD, the IMF, and the London School of Economics in saying leaving the EU would be bad for the economy.

    This article was published online by In Facts on May 12, 2016
    Link to article here

    Related publications
    See the complete set of CEP Brexit Analysis research papers here.

    Related links
    Jonathan Wadsworth webpage
    Swati Dhingra webpage
    Hanwei Huang webpage
    Gianmarco Ottaviano webpage
    Thomas Sampson webpage
    John Van Reenen webpage
    Labour Markets Programme webpage
    Trade Programme webpage
    Growth Programme webpage



    News Posted: 12/05/2016      [Back to the Top]

    The Financial Times

    EU migration - the effects on UK jobs and wages

    There is little evidence that more migrants push wages down or unemployment up. Economists from the Centre for Economic Performance at the London School of Economics say that when they look at the areas with the largest increase in EU immigration, these have not seen the sharpest falls in employment or wages since 2008. Jonathan Wadsworth, one of the authors of the CEP report and a former member of the government's Migration Advisory Committee, says: ''There is still no evidence of an overall negative impact of immigration on jobs, or wages.''

    This article was published by The Financial Times on May 12, 2016
    Link to article here

    Related publications
    Brexit and the Impact of Immigration on the UK, Jonathan Wadsworth, Swati Dhingra, Gianmarco Ottaviano and John Van Reenen, CEP Brexit Analysis Series No.5, May 2016
    See the complete set of CEP Brexit Analysis research papers here.

    Related links
    Jonathan Wadsworth webpage
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    John Van Reenen webpage
    Labour Markets Programme webpage
    Trade Programme webpage
    Growth Programme webpage



    News Posted: 12/05/2016      [Back to the Top]

    Adam Smith Institute blog

    Immigration is no reason to leave the EU

    I've become extremely pessimistic about the Leave campaign lately as it has latched on to Faragist arguments about immigration as a major reason to get out of the EU. This is not just naive liberalism - on virtually every count, the critics of EU immigration are wrong.

    A new paper from the LSE's John Van Reenen and others summarises the existing research.

    This article was published by the Adam Smith Institute blog on May 12, 2016
    Link to article here

    Related publications
    Brexit and the Impact of Immigration on the UK, Jonathan Wadsworth, Swati Dhingra, Gianmarco Ottaviano and John Van Reenen, CEP Brexit Analysis Series No.5, May 2016
    See the complete set of CEP Brexit Analysis research papers here.

    Related links
    Jonathan Wadsworth webpage
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    John Van Reenen webpage
    Labour Markets Programme webpage
    Trade Programme webpage
    Growth Programme webpage



    News Posted: 12/05/2016      [Back to the Top]

    The Spectator - 'Coffee House' blog

    EU immigration hasn't hurt jobs or wages. Here's why:

    Article by Jonathan Wadsworth, Swati Dhingra, Gianmarco Ottaviano and John Van Reenen
    This morning's national insurance figures have further stoked the debate about immigration, and the extent to which leaving the EU would make a difference. Many British people are concerned that high levels of immigration have hurt their jobs, wages and quality of life. ... So it does make sense that many people believe this immigration wave has hurt UK workers and think that leaving the EU would make things better. To investigate this we crunched the most recent data and scoured the evidence in our new report. The bottom line is that EU immigration has not significantly harmed the pay, jobs or public services enjoyed by Britons. In fact, for the most part it has made us better off. Far from EU immigration being a 'necessary evil' that we must bear in order to gain access to the greater trade and foreign investment generated by the EU Single Market, immigration is at worst neutral and at best another economic benefit of membership.

    This article was published online by The Spectator 'Coffee House' blog on May 12, 2016
    Link to article here

    Related publications
    Brexit and the Impact of Immigration on the UK, Jonathan Wadsworth, Swati Dhingra, Gianmarco Ottaviano and John Van Reenen, CEP Brexit Analysis Series No.5, May 2016
    See the complete set of CEP Brexit Analysis research papers here.

    Related links
    Jonathan Wadsworth webpage
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    John Van Reenen webpage
    Labour Markets Programme webpage
    Trade Programme webpage
    Growth Programme webpage



    News Posted: 12/05/2016      [Back to the Top]

    LSE Business Review

    Why immigration is no reason to leave the EU

    Article by Jonathan Wadsworth, Swati Dhingra, Gianmarco Ottaviano and John Van Reenen
    Many people believe immigration wave has hurt UK workers and think that leaving the EU would make things better. To investigate this we crunched the most recent data and scoured the evidence in our new report. The bottom line is that EU immigration has not significantly harmed the pay, jobs or public services enjoyed by Britons. In fact, for the most part it has made us better off. Far from EU immigration being a 'necessary evil' that we must bear in order to gain access to the greater trade and foreign investment generated by the EU Single Market, immigration is at worst neutral and at best another economic benefit of membership.

    This article was published online by the LSE Business Review blog on May 11, 2016
    Link to article here

    Related publications
    Brexit and the Impact of Immigration on the UK, Jonathan Wadsworth, Swati Dhingra, Gianmarco Ottaviano and John Van Reenen, CEP Brexit Analysis Series Paper No.05, May 2016
    Technical Appendix to 'Brexit and the impact of immigration on the UK'
    See the whole series of CEP Brexit Analysis papers here

    Related links
    Jonathan Wadsworth webpage
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    John Van Reenen webpage
    Labour Markets Programme webpage
    Trade Programme webpage
    Growth Programme webpage



    News Posted: 11/05/2016      [Back to the Top]

    The Guardian

    Students who use digital devices in class 'perform worse in exams'

    Research published last year by the London School of Economics found that banning mobile phones affected school pupils according to their ability. ''Banning mobile phones improves outcomes for the low-achieving students ... and has no significant impact on high-achievers,'' it concluded.

    This article was published by the Guardian on May 11, 2016
    Link to article here

    Related publications
    In brief... Phone home: should mobiles be banned in schools?, Louis-Philippe Beland and Richard Murphy. Article in CentrePiece Volume 20, Issue 1, Summer 2015
    Ill communication: technology, distraction and Student Performance, Louis-Philippe Beland and Richard Murphy, Centre for Economic Performance Discussion Paper No.1350, May 2015

    Related links
    Richard Murphy webpage
    Education and Skills Programme webpage



    News Posted: 11/05/2016      [Back to the Top]

    Harvard Business Review

    Corporate inequality is the defining fact of business today

    Perhaps the most overlooked aspect of economic inequality has been the role that firms play in it.
    It's safe to say that a significant part of the growing gap in how well different firms pay can be attributed to the latter ''talent sorting effect'' - but exactly how much continues to be debated. ... Work by Nicholas Bloom of Stanford finds an even larger role: His analysis suggests that this worker sorting effect can explain the bulk of the increase of inequality in the U.S., with the exception of the rise of the 1%. ...
    Evidence of this trend toward greater corporate inequality has been trickling in for a while now. ... in 2007 Giulia Faggio and John Van Reenen of the London School of Economics and Kjell G. Salvanes of the Norwegian School of Economics and Business Administration reported that the productivity gap between firms had risen in the UK between 1984 and 2001, and that this phenomenon was linked to income inequality. ...
    But there's a pessimistic synthesis between the competition and concentration stories. Perhaps the gap between firms starts out as the inevitable result of competition. Firms concentrate on what they're good at, adopt new technology, and deliver products and services more efficiently. Having reached those heights, they then cement their status through lobbying or M&A. ''Once those firms get there, it may be that they can actually draw up the drawbridge,'' said [John] Van Reenen. Maybe competition creates corporate inequality. But maybe it's lack of competition that preserves it.

    This article was published by the Harvard Business Review on May 11, 2016
    Link to article here

    Related publications
    The Evolution of Inequality in Productivity and Wages: Panel Data Evidence, Giulia Faggio, Kjell G. Salvanes and John Van Reenen, Centre for Economic Performance Discussion Paper No.821, August 2007
    Nicholas Bloom CEP publications can be seen here

    Related links
    Nicholas Bloom webpage
    Giulia Faggio webpage
    John Van Reenen webpage
    Growth Programme webpage



    News Posted: 11/05/2016      [Back to the Top]

    Bloomberg

    Osborne says post-Brexit precautions against instability planned

    In another development, the London School of Economic said a reduction in immigration if the country votes to leave wouldn't lead to any improvement in living standards for those born in Britain. ''Cuts in EU immigration would not offset the big fall in U.K. living standards caused by the reduction in trade and investment that would result from Brexit,'' the school's Centre for Economic Performance said in a report.

    This article was published online by Bloomberg News on May 11, 2016
    Link to article here

    Related publications
    Brexit and the Impact of Immigration on the UK, Jonathan Wadsworth, Swati Dhingra, Gianmarco Ottaviano and John Van Reenen, CEP Brexit Analysis Series No.5, May 2016
    See the complete set of CEP Brexit Analysis research papers here.

    Related links
    Jonathan Wadsworth webpage
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    John Van Reenen webpage
    Labour Markets Programme webpage
    Trade Programme webpage
    Growth Programme webpage



    News Posted: 11/05/2016      [Back to the Top]

    The Guardian

    EU migrants have no negative effect on UK wages, says LSE

    Research blames 2008 recession for lower real salaries rather than rise in foreign workers, adding they paid more into UK economy than they took out
    The rapid increase in migration from other EU countries has not had an adverse impact on the wages and job prospects of UK-born workers, according to research by the London School of Economics. The study found areas of Britain that have seen the biggest rises in workers from the rest of Europe have not suffered sharper falls in pay or seen a bigger reduction in job opportunities than other parts of the country. The LSE study, part of a series in the buildup to the EU vote on 23 June, also said that goods and services consumed by migrants raised the level of demand in the British economy and created opportunities for UK-born workers.

    Jonathan Wadsworth, one of the co-authors of the report, said:
    ''The bottom line, which may surprise many people, is that EU immigration has not harmed the pay, jobs or public services enjoyed by Britons. In fact, for the most part it has likely made us better off. So far from EU immigration being a necessary evil that we pay to get access to the greater trade and foreign investment generated by the EU single market, immigration is at worse neutral and at best, another economic benefit.''

    This article was published by The Guardian on May 11, 2016
    Link to article here

    Related publications
    Brexit and the Impact of Immigration on the UK, Jonathan Wadsworth, Swati Dhingra, Gianmarco Ottaviano and John Van Reenen, CEP Brexit Analysis Series No.5, May 2016
    See the complete set of CEP Brexit Analysis research papers here.

    Related links
    Jonathan Wadsworth webpage
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    John Van Reenen webpage
    Labour Markets Programme webpage
    Trade Programme webpage
    Growth Programme webpage



    News Posted: 11/05/2016      [Back to the Top]

    RT.com

    2008 financial crash drove fall in real wages, not wave of EU migration - LSE study

    Contrary to what some believe, inequality, wages and job opportunities for British-born citizens have not been negatively impacted by the recent surge in migrants from the EU, a new study suggests. Published by the London School of Economics' (LSE) Centre for Economic Performance this week, the research forms part of a broader series of papers due for release ahead of Britain's EU referendum on June 23. This latest study found that regions in Britain that have attracted the biggest spike in workers from other European states have not been hit by sharper drops in pay or eroded job opportunities any more than other UK districts.

    This article was published online by RT.com on May 11, 2016
    Link to article here

    Related publications
    Brexit and the Impact of Immigration on the UK, Jonathan Wadsworth, Swati Dhingra, Gianmarco Ottaviano and John Van Reenen, CEP Brexit Analysis Series No.5, May 2016
    See the complete set of CEP Brexit Analysis research papers here.

    Related links
    Jonathan Wadsworth webpage
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    John Van Reenen webpage
    Labour Markets Programme webpage
    Trade Programme webpage
    Growth Programme webpage



    News Posted: 11/05/2016      [Back to the Top]

    LSE BrexitVote blog

    Immigration from the EU is not a 'necessary evil' and does not drag down wages

    Article by Jonathan Wadsworth, Swati Dhingra, Gianmarco Ottaviano and John Van Reenen
    A major argument of the campaign to leave the EU is that Brexit would give the UK more control over the flow of immigrants from across Europe, who have supposedly hurt the jobs and pay of British workers. Research by Jonathan Wadsworth, Swati Dhingra, Gianmarco Ottaviano and John van Reenen shows that far from EU immigration being a 'necessary evil' to gain access to the greater trade and foreign investment that comes from being in the EU Single Market, immigration is at worst neutral and at best, an economic benefit of EU membership.

    This article was published by the LSE BrexitVote blog on May 11, 2016
    Link to article here

    Related publications
    Brexit and the Impact of Immigration on the UK, Jonathan Wadsworth, Swati Dhingra, Gianmarco Ottaviano and John Van Reenen, CEP Brexit Analysis Series No.5, May 2016
    See the complete set of CEP Brexit Analysis research papers here.

    Related links
    Jonathan Wadsworth webpage
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    John Van Reenen webpage
    Labour Markets Programme webpage
    Trade Programme webpage
    Growth Programme webpage



    News Posted: 11/05/2016      [Back to the Top]

    CEP State of Working Britain blog

    SWOB 10: EU-turn if you want to. Brexit and immigration

    State of Working Britain blog, article posted by Jonathan Wadsworth
    Immigration has for some years been the uppermost worry among the issues thought to be facing Britain in many opinion polls so it - or rather people's perceptions of its extent and its effects - is almost certainly one of the key issues that will influence the upcoming vote on whether to stay or remain in the EU. A new report from the CEP looks into this. Workers have had a rough ride in recent times. Real (inflation adjusted) wages fell by around 10% in the years after the global financial crisis of 2008 and the ensuing austerity. Such a sustained fall in pay is unprecedented in British post-war history.

    This article was posted online in the CEP State of Working Britain blog on May 11, 2016
    Link to article here

    Related publications
    Brexit and the Impact of Immigration on the UK, Jonathan Wadsworth, Swati Dhingra, Gianmarco Ottaviano and John Van Reenen, CEP Brexit Analysis Series No.5, May 2016

    Related links
    Jonathan Wadsworth webpage
    Labour Markets Programme webpage
    The State of Working Britain blog webpage



    News Posted: 11/05/2016      [Back to the Top]

    Bloomberg

    Post-Brexit immigration cut 'wouldn't boost living standards'

    A reduction in immigration into the U.K. if the country votes to leave the European Union next month wouldn't lead to any improvement in living standards for those born in Britain, according to research from the London School of Economics.
    ''Cuts in EU immigration would not offset the big fall in U.K. living standards caused by the reduction in trade and investment that would result from Brexit,'' the LSE's Centre for Economic Performance said in a report released Wednesday.

    This article was published online by Bloomberg on May 11, 2016
    Link to article here

    Related publications
    Brexit and the Impact of Immigration on the UK, Jonathan Wadsworth, Swati Dhingra, Gianmarco Ottaviano and John Van Reenen, CEP Brexit Analysis Series No.5, May 2016
    See the complete set of CEP Brexit Analysis research papers here.

    Related links
    Jonathan Wadsworth webpage
    Swati Dhingra webpage
    Gianmarco Ottaviano webpage
    John Van Reenen webpage
    Labour Markets Programme webpage
    Trade Programme webpage
    Growth Programme webpage



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