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Spectator – Coffee House blog

The embarrassing role of economists on Brexit

A major impediment to clarity has been the weight of advice from what Michael Gove calls ‘organisations with acronyms’ suggesting that  a ‘no deal’ on trade will greatly damage the UK economy. Our careful and detailed re-evaluation of the reports issued by the Treasury, OECD, the LSE’s Centre for Economic Performance and others, shows that much of this was wrong. The key flaw in each case was the use of inappropriate benchmarks to judge the potential losses to the UK economy.


Related Links:
Spectator – Coffee House blog - The embarrassing role of economists on Brexit

BREXIT 2016: Policy Analysis from the Centre for Economic Performance

CEP Trade CEP Growth CEP Labour Markets

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



News Posted: 13/10/2017      [Back to the Top]

Asian Robotics Review

Looking to make a fortune investing in robotics?

Industrial robots are high-quality, productive workers; humans can’t match their output.  Because of these steel-collar workers and their peerless output—around the clock if necessary!—productivity gets a boast. Factory owners like the increase in productivity, low price and ROI of these workers, so they are buying ever more. Such mass productivity affects GDP. Georg Graetz of Uppsala University and Guy Michaels of the London School of Economics in their Robots at Work “found that, on average…the increasing use of industrial robots over the time period raised the annual growth of GDP by 0.37%. They compared this substantial growth to the boosts in productivity that occurred at the turn of the 20th century from steam technology.” The comparison was near identical.


Related Links:
Asian Robotics Review - Looking to make a fortune investing in robotics?

Robots at work: the impact on productivity and jobs

Robots at work: the impact on productivity and jobs

CEP Labour Markets

Georg Graetz webpage

Guy Michaels webpage



News Posted: 13/10/2017      [Back to the Top]

Horticulture Week

Can UK fresh produce come out of Brexit ahead?

NFU Scotland’s Horticulture Committee chairman and Angus Soft Fruits (ASF) grower James Porter last month met UK Migration Advisory Committee chair Professor Alan Manning and Defra secretary Michael Gove to put the sector’s concerns over labour availability post-Brexit. "For a major soft fruit area like Angus, the importance of seasonal workers cannot be underestimated," he says. "There are only 1,400 long-term unemployed in Angus, yet ASF needs a seasonal workforce of 4,000 to pick crops."


Related Links:
Horticulture Week - Can UK fresh produce come out of Brexit ahead?

CEP Community

Alan Manning webpage



News Posted: 12/10/2017      [Back to the Top]

CEP and impact

Knowledge Exchange and Impact (KEI) at LSE

Did you know that funding is available to support knowledge exchange activities at any point throughout the research life-cycle?

The KEI Fund is designed to support a variety of innovative research engagement activities and the KEI Strategy Group welcomes applications of any size up to £100k/year for a maximum of 3 years.

The key public engagement activities for 2017/18 will be driven by the core theme Beveridge 2.0: Rethinking Beveridge for the 21st century and colleagues are invited to submit proposals in line with this theme, other innovative proposals also welcome.

Visit the new KEI website for full details of the KEI Fund, hear from colleagues on the value of research praxis, and gain practical advice and information on all aspects of KEI through the KEI Toolkit.


Related Links:




News Posted: 12/10/2017      [Back to the Top]

CEP recent awards

Sara Evans-Lacko, PSSRU

Awarded an European Research Council Proof of Concept Grant for the NCore project, which aims to develop a mobile app which facilitates access to mental health services and treatments for young people with mental health problems; and to assess its feasibility, acceptability and potential clinical and costeffectiveness. If successful, the app would: (1) increase access to mental health care by providing links to relevant existing services; (2) increase access to relevant evidence-based mobile health interventions and to address barriers to care and (3) allow individuals to review services they have used and provide feedback which can be accessed by other app users. 


Related Links:
CEP recent awards - Sara Evans-Lacko, PSSRU

CEP Wellbeing

Sara Evans-lacko webpage



News Posted: 12/10/2017      [Back to the Top]

CEP on Twitter

CEP’s Prof Richard Layard at launch of BEIS’s ‘Time to Change’ on World Mental Health Day 2017.

Tweet by Alastair Campbell:

Alastair Campbell‏Verified account @campbellclaret Oct 10

Follow Follow @campbellclaret

Launching @beisgovuk as @TimetoChange employer with Perm Sec Alex Chisholm (the other tall one) #WMHD2017pic.twitter.com/vUA12S1Wud

1:32 PM - 10 Oct 2017

  • 10 Retweets
  • 31 Likes

 

 

 

 

 

 

 

 

 

 


Related Links:
CEP on Twitter - CEP’s Prof Richard Layard at launch of BEIS’s ‘Time to Change’ on World Mental Health Day 2017.

CEP Wellbeing

Richard Layard webpage



News Posted: 12/10/2017      [Back to the Top]

Freakonomics Radio

Podcast - What are the secrets of the German economy - and should we steal them?

Podcast - What are the secrets of the German economy - and should we steal them?

Daniel Sturm interviewed alongside four other economists about the German economy.

Related publications

'History and Industry Location: Evidence from German Airports', Stephen J. Redding, Daniel M. Sturm and Nikolaus Wolf, The Review of Economics and Statistics 93(3), August 2011

http://personal.lse.ac.uk/sturmd/papers/Redding-Sturm-Wolf-REStat-2011.pdf


Related Links:
Freakonomics Radio - Podcast - What are the secrets of the German economy - and should we steal them?

CEP Trade

Daniel M. Sturm webpage



News Posted: 12/10/2017      [Back to the Top]

Mercola.com

Moods are contagious: good and bad

Perhaps you'd prefer to be the happy person that others gravitate to. In that case, in the video above London School of Economics (LSE) economist Lord Richard Layard, founder of Action for Happiness, a movement of people committed to building a happier and more caring society, suggests not tying your inner purpose to becoming richer and instead focus on achieving happiness and well-being.


Related Links:
Mercola.com - Moods are contagious: good and bad

CEP Wellbeing

Richard Layard webpage



News Posted: 12/10/2017      [Back to the Top]

LSE Research Briefing October 2017

New LSE report on uneven spread of UK industry

The South-East is not the country’s productivity engine, rather a band stretching west from the capital towards Bristol is, according to a new LSE report which challenges prevailing wisdom on the uneven spread of industry across the UK. 


Related Links:
LSE Research Briefing October 2017 - New LSE report on uneven spread of UK industry

Industry in Britain - An Atlas

CEP Growth

Richard Davies webpage

Anna Valero webpage



News Posted: 12/10/2017      [Back to the Top]

Ted.com

Talks – Helen Pearson: Lessons from the longest study on human development

Another summary is offered in the introduction to this report Bucking the Trend (Jo Blanden, 2006) "A prime motivation behind the Government’s child poverty reduction strategy is the belief that growing up in poverty leads to children experiencing poorer outcomes later in life. Several studies support this assertion, showing that poorer children have weaker educational attainment (e.g. Gregg and Machin, 1999), and are more likely to end up in poverty in adulthood (Blanden and Gibbons, 2006). However, all these studies present the difference in the average outcomes of poor and non-poor children; clearly there are many children raised in poor backgrounds who do well in later life."

Related publications

‘'Bucking the trend' : what enables those who are disadvantaged in childhood to succeed later in life?’, Jo Blanden: a report of research carried out by the Department of Economics, University of Surrey and the Centre for Economic Performance, London School of Economics on behalf of the Department for Work and Pensions. [ Working paper ; no. 31 ], 2006

http://dera.ioe.ac.uk/7729/1/WP31.pdf

‘The Persistence of Poverty across Generations: A View from two British Cohorts’, Jo Blanden and Steve Gibbons, published for the Joseph Rowntree Foundation by The Policy Press, 25 April 2006

https://www.jrf.org.uk/report/persistence-poverty-across-generations

 


Related Links:
Ted.com - Talks – Helen Pearson: Lessons from the longest study on human development

Cycles of Disadvantage

Child Development and Success or Failure in the Youth Labour Market

CEP Labour Markets CEP Education and Skills

Jo Blanden webpage

Steve Gibbons webpage

Stephen Machin webpage



News Posted: 12/10/2017      [Back to the Top]

Hrmasia

The working blues

The UK Centre for Mental Health calculated that presenteeism from mental ill health alone costs the UK economy £15.1 billion (S$26.5 billion) per annum, while absenteeism costs £8.4 billion (S$14.4 billion). The impact is also being felt in the Asia-Pacific region, perhaps more so. Researchers from the London School of Economics have found workplace depression could have “wide and devastating” consequences for thousands of organisations in the region. Their survey of 8,000 employees from eight countries, including China, Japan, and South Korea, found that the collective annual cost for workplace depression in those countries was more than US$246 billion. … “Interventions which support employees with depression need to be developed, adapted, implemented and evaluated across all countries to mitigate the high costs of workplace depression,” lead researcher Dr. Sarah Evans-Lacko [sic] said.

Related publications

‘Global patterns of workplace productivity for people with depression: absenteeism and presenteeism costs across eight diverse countries’, Sara Evans-Lacko and Martin Knapp, Social Psychiatry and Psychiatric Epidemiology, Volume 51, Issue 11, November 2016

https://link.springer.com/article/10.1007/s00127-016-1278-4

DOI:  10.1007/s00127-016-1278-4


Related Links:
Hrmasia - The working blues

CEP Wellbeing

Sara Evans-lacko webpage

Martin Knapp webpage



News Posted: 12/10/2017      [Back to the Top]

John Menadue – Pearls and Irritations

Paul Frijters. EU plans for VAT taxation are doomed to fail. Again.

Article by Paul Frijters

Taxation is the potential downfall of the EU as an institution. The reason is that within the EU, several member states are making money from the tax evasion in other member states, a situation akin to having a wife slowly murdering her husband with poison. Unless this stops, a divorce becomes inevitable.


Related Links:
John Menadue – Pearls and Irritations - Paul Frijters. EU plans for VAT taxation are doomed to fail. Again.

CEP Wellbeing

Paul Frijters webpage



News Posted: 11/10/2017      [Back to the Top]

London Review of Books

Letters – Vol 39 No. 20 19 October 2017 How not to do trade deals

Letter by Swati Dhingra and Nikhil Datta

Martin Sanderson points out that manufacturing accounts for only a small share of the UK workforce, and reasons that it is hardly right to say blue-collar British workers determined the referendum result (Letters, 5 October). We agree that the share is small – about 10 per cent – but the term is used to refer collectively to people in the regions of the UK that have suffered from the decline in manufacturing over the past thirty years, before which manufacturing accounted for 30 per cent of the workforce. Regions that relied directly or indirectly on manufacturing (including those dependent on tourism, for example), have experienced low and stagnating real wages. The work of our colleagues at the Centre for Economic Performance at the London School of Economics shows that people in these lagging regions were more likely to vote to leave the EU.

Related articles

‘How Not to Do Trade deals’, Swati Dhingra and Nikhil Datta, London Review of Books - Vol.39 No.18 September 2017

https://www.lrb.co.uk/v39/n18/swati-dhingra/how-not-to-do-trade-deals

‘Who voted Leave: the characteristics of individuals mattered, but so did those of local areas’, Monica Langella and Alan Manning, LSE British Politics and Policy blog, July 6, 2016

http://blogs.lse.ac.uk/politicsandpolicy/explaining-the-vote-for-brexit/


Related Links:
London Review of Books - Letters – Vol 39 No. 20 19 October 2017 How not to do trade deals

CEP Trade

Nikhil Datta webpage

Swati Dhingra webpage



News Posted: 11/10/2017      [Back to the Top]

MOJEH online

The pursuit of happiness

Another landmark study by researchers at the London School of Economics attributed most human misery to failed relationships and physical and mental illness rather than measurable problems like poverty. These findings pose a problem because, in the Western world, our levels of contentment are often closely linked to our spending habits.

Related article

Vox

Origins of happiness: Evidence and policy implications

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


Related Links:
MOJEH online - The pursuit of happiness

CEP Wellbeing

Andrew Clark webpage

Sarah Flèche webpage

Richard Layard webpage

Nattavudh Powdthavee webpage

George Ward webpage



News Posted: 11/10/2017      [Back to the Top]

IZA World of Labor

The economics of mental health

Article by Richard Layard

With modern psychological therapy, mentally ill people can become more productive and more satisfied with life.


Related Links:
IZA World of Labor - The economics of mental health

CEP Wellbeing

Richard Layard webpage



News Posted: 11/10/2017      [Back to the Top]

CEP Journal Articles

‘The Benefits of Forced Experimentation: Striking Evidence from the London Underground Network’

Shaun Larcom; Ferdinand Rauch; Tim Willems, The Quarterly Journal of Economics, Volume 132, Issue 4, November 2017

DOI:  https://doi.org/10.1093/qje/qjx020


Related Links:
CEP Journal Articles - ‘The Benefits of Forced Experimentation: Striking Evidence from the London Underground Network’

The upside of London Tube strikes

The Benefits of Forced Experimentation: Striking Evidence from the London Underground Network

CEP Trade

Ferdinand Rauch webpage



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

CEP Journal Articles

'On Minimizing the Risk of Bias in Randomized Controlled Trials in Economics’

Alex Eble, Peter Boone and Diana Elbourne, The World Bank Economic Review, Volume 31, Issue 3, October 2017

DOI: 10.1093/wber/lhw034

Related links

Peter Boone CEP Alumni webpage:  http://www.effint.org/wtrustees.htm

Effective Intervention Programme webpage:  http://cep.lse.ac.uk/_new/research/effective_intervention/default.asp


Related Links:
CEP Journal Articles - 'On Minimizing the Risk of Bias in Randomized Controlled Trials in Economics’

Risk and Evidence of Bias in Randomized Controlled Trials in Economics





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

LinkedIn

One small town sock maker’s fight to keep jobs and make it in a different America

Fort Payne, Alabama was the former “Sock Capital of the World” until a trade deal triggered job losses. In this installment of #WorkInProgress, we show how one sock maker is pushing to keep “Made in USA” manufacturing jobs. … Just to take a step back, past technological advances in prior decades created new kinds of jobs as others disappeared. No economist is forecasting mass unemployment overnight. And you can’t blame robots for all lost manufacturing jobs. There are other shifts at play including globalization, offshoring and the skills gap. Researchers recently found no significant relationship between more industrial robots and overall employment. However, they did find evidence that suggests robots may reduce jobs for low-skilled workers. “We find that low-skilled workers in particular may lose out,” according to research published in June by George Graetz [sic] of Uppsala University in Sweden and Guy Michaels  of the London School of Economics.


Related Links:
LinkedIn - One small town sock maker’s fight to keep jobs and make it in a different America

Robots at work: the impact on productivity and jobs

Robots at Work

CEP Labour Markets

Georg Graetz webpage

Guy Michaels webpage



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

The Maui News - blog

Mutually assured destruction

In the London Review of Books, Swati Dhingra and Nikhil Datta (economists in London) run down all the difficulties facing Britain in withdrawing from the European Union, in an article called “How Not to Do Trade Deals.” (See https://www.lrb.co.uk/v39/n18/swati-dhingra/how-not-to-do-trade-deals). It turns out it is hard to recruit partners into an economic suicide pact. Who could have guessed?

Related articles

‘How Not to Do Trade deals’, Swati Dhingra and Nikhil Datta, London Review of Books - Vol.39 No.18 September 2017

https://www.lrb.co.uk/v39/n18/swati-dhingra/how-not-to-do-trade-deals


Related Links:
The Maui News - blog - Mutually assured destruction

CEP Trade

Nikhil Datta webpage

Swati Dhingra webpage



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

VRT.be (Belgium)

Nobel Prize winner Economy: "I'm going to try to spend my prize money as irrationally as possible"

Behavior Economist and Nobel Prize Winner Economics Richard H. Thaler is best in joking when a journalist asks him from Stockholm what he will do with the prize. A jovial man also confirms his Belgian colleague Jan-Emmanuel De Neve.

“"He is a genius and jovial man who has done much to transform behavioral economics into practice.” - Jan-Emmanuel De Neve


Related Links:
VRT.be (Belgium) - Nobel Prize winner Economy: "I'm going to try to spend my prize money as irrationally as possible"

CEP Wellbeing

Jan-Emmanuel De neve webpage



News Posted: 09/10/2017      [Back to the Top]

Henley Standard

Prices hit a high, but is crash coming?

It seems things are slowing down. And two distinct camps are emerging: the “priced out” generation, who are hoping a crash will lead to house prices they can afford, and the “propertied” generation, who are worried a crash will bring the whole UK economy crashing down. But does either camp have anything to worry about? It’s hard to tell, since the experts also for their part appear to be in two different camps.

So while Paul Cheshire, a professor of economic geography at the London School of Economics, has warned that prices could fall by as much as 40 per cent in the near future, Russell Galley, managing director at the Halifax Community Bank, had this to say: “Recent figures for mortgage approvals suggest some buoyancy may be returning, possibly on the back of strong recent employment growth, with the unemployment rate falling to a 42-year low...“House prices should continue to be supported by low mortgage rates and a continuing shortage of properties for sale over the coming months.”

Related links

Paul Cheshire CEP publications webpage:  http://cep.lse.ac.uk/_new/publications/author.asp?author=cheshire


Related Links:
Henley Standard - Prices hit a high, but is crash coming?

CEP Urban and Spatial Programme

Paul Cheshire webpage



News Posted: 09/10/2017      [Back to the Top]

Henley Standard

Prices hit a high, but is crash coming?

It seems things are slowing down. And two distinct camps are emerging: the “priced out” generation, who are hoping a crash will lead to house prices they can afford, and the “propertied” generation, who are worried a crash will bring the whole UK economy crashing down. But does either camp have anything to worry about? It’s hard to tell, since the experts also for their part appear to be in two different camps.

So while Paul Cheshire, a professor of economic geography at the London School of Economics, has warned that prices could fall by as much as 40 per cent in the near future, Russell Galley, managing director at the Halifax Community Bank, had this to say: “Recent figures for mortgage approvals suggest some buoyancy may be returning, possibly on the back of strong recent employment growth, with the unemployment rate falling to a 42-year low...“House prices should continue to be supported by low mortgage rates and a continuing shortage of properties for sale over the coming months.”

Related links

http://cep.lse.ac.uk/_new/publications/author.asp?author=cheshire


Related Links:
Henley Standard - Prices hit a high, but is crash coming?

CEP Urban and Spatial Programme

Paul Cheshire webpage



News Posted: 09/10/2017      [Back to the Top]

BBC News

Pembrokeshire council vote for Brexit working group

A working group will be set up to prepare Pembrokeshire for the effect of Brexit, following a council vote. The county could lose £35.4m in trade if the United Kingdom opts for a "hard" Brexit, according to a report by the London School of Economics.


Related Links:
BBC News - Pembrokeshire council vote for Brexit working group

The Local Economic Effects of Brexit

CEP Trade CEP Labour Markets CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 09/10/2017      [Back to the Top]

Lonely Planet

Mapping the world with data; this new book offers a fresh perspective on planet Earth

Book includes ‘The map of the world’s happiness’. Photo by New Views. Data source: Helliwell, John F., Richard Layard, and Jeffrey Sachs, eds. 2015. World Happiness Report 2015. New York: Sustainable Development Solutions Network.

Related publications

World Happiness Report 2015, John Helliwell, Richard Layard and Jeffrey Sachs (Eds), The Earth Institute Columbia University, April 2015

http://worldhappiness.report/wp-content/uploads/sites/2/2015/04/WHR15_Sep15.pdf

ISBN: 978-0-9968513-2-9

 


Related Links:
Lonely Planet - Mapping the world with data; this new book offers a fresh perspective on planet Earth

CEP Wellbeing

Richard Layard webpage



News Posted: 09/10/2017      [Back to the Top]

The Sunday Times

Still clueless on Brexit – and it is taking its toll

… Whether post-EU frictionless trade is even possible remains to be seen. In an article in the London Review of Books, Swati Dhingra and Nikhil Datta of the London School of Economics pour cold water on t...

Related article

‘How Not to Do Trade deals’, Swati Dhingra and Nikhil Datta, London Review of Books - Vol.39 No.18 September 2017

https://www.lrb.co.uk/v39/n18/swati-dhingra/how-not-to-do-trade-deals


Related Links:
The Sunday Times - Still clueless on Brexit – and it is taking its toll

CEP Labour Markets CEP Trade

Nikhil Datta webpage

Swati Dhingra webpage



News Posted: 08/10/2017      [Back to the Top]

Inquirer.net

Raise happiness; lessen impunity

Raise happiness. “Towards a better society” was the theme of the well-attended 2017 conference of the International Society for Quality of Life Studies (ISQOLS) at the University of Innsbruck, Austria, on Sept. 27-30. It had 5 invited plenary lectures and some 300 presentations, in as many as 6 simultaneous sessions, of scholarly research on quality of life (QOL) and its relevance for policymaking. … In his lecture, Prof. Lord Richard Layard, author of “Happiness—Lessons from a New Science” (2005), maintained that a society should be judged by its people’s satisfaction with life as a whole. Subjective, or self-reported, experience is an objective phenomenon; it correlates with electrical activity in relevant areas of the brain.

Related publications

Happiness: Lessons from a New Science, Richard Layard, Penguin, 2005. 2nd Edition 2011

http://onlinelibrary.wiley.com/doi/10.1080/14733140600986227/abstract

DOI: 10.1080/14733140600986227

 


Related Links:
Inquirer.net - Raise happiness; lessen impunity

CEP Wellbeing

Richard Layard webpage



News Posted: 07/10/2017      [Back to the Top]

The Times

A broken housing market – and how to fix it

…a shortfall of more than 109,000 new homes across England alone. Of that figure, 86 per cent were needed in parts ofthe country with the highest housing demand. Paul Cheshire, a professor of economic geography at London School of Economics, is adamant that if ...

Related links

Paul Cheshire CEP publications webpage:  http://cep.lse.ac.uk/_new/publications/author.asp?author=cheshire


Related Links:
The Times - A broken housing market – and how to fix it

CEP Urban and Spatial Programme

Paul Cheshire webpage



News Posted: 07/10/2017      [Back to the Top]

Forbes

Benefits of a lenient work-from-home policy

When it comes to debating a work-from-home policy, there are two schools of thought on the subject. While one group believes employees will abuse the system and productivity will be lost, the other believes that workers will be happier, healthier and therefore more productive during working hours. A study by Stanford economics professor Nicholas A. Bloom and Stanford graduate student James Liang suggests that when employees are given the opportunity to work from home, productivity increases and stress decreases.

Related publications

Does working from home work? Evidence from a Chinese experiment, Nicholas Bloom, James Liang, John Roberts and Zhichun Jenny Ying, Quarterly Journal of Economics, 130(1), February 2015


Related Links:
Forbes - Benefits of a lenient work-from-home policy

Does Working from Home Work? Evidence from a Chinese Experiment

CEP Growth

Nick Bloom webpage



News Posted: 06/10/2017      [Back to the Top]

Kathimerini.gr (Greece)

Source of uncertainty, but not destruction, Brexit

Article by NICHOLAS BLOOM*, PAUL MIZEN

The conditions in the British economy worsened after the Brexit referendum, but there was no disaster predicted by various economists. Growth rates in Britain have fallen, and today they are down to around 0.5% compared to Europe and the US. However, the economy did not collapse and the disaster did not occur. Today's conditions in Britain are attributed to four factors, according to a survey of 2,500 businesses in the UK. First, British companies exporting to the EU have benefited from the 20% drop in sterling, as exports to the single European market have become more attractive. As long as access to the EU is maintained, export firms will benefit from weakening sterling. Second, demand for exports is boosted in the Eurozone due to the improvement of the economic landscape during the current year. Growth in the Eurozone is now homogeneous, with the European South recovering dynamically. Thirdly, monetary policy remains relaxed, with the base interest rate standing at the historical low of 0.25%. Fourth, half of the voters are optimistic about Britain's course.


Related Links:
Kathimerini.gr (Greece) - Source of uncertainty, but not destruction, Brexit

CEP Growth

Nick Bloom webpage



News Posted: 06/10/2017      [Back to the Top]

Ad.nl (Netherlands)

Brexit: van ‘taking back our money’ komt niets terecht/Brexit: 'taking back our money' is nothing wrong

Interview: Een harde Brexit kost iedere Brit 10 procent aan inkomen. Dat becijferde de jonge, gezaghebbende econoom Thomas Sampson. “Het aan banden leggen van het persoonsverkeer is heel kostbaar.”

Interview: A hard Brexit costs every Brit 10 per cent of income. That said the young, authoritative economist Thomas Sampson. "Carrying personal traffic is very expensive."

According to Thomas Sampson, the damage can only be limited if Prime Minister Theresa May insists almost all of the brexit's promises. But that does not seem to be a feasible card, politically. For many years, the economist has been studying economic models that chart the pros and cons of international trade.

Related links

Thomas Sampson CEP publications webpage:  http://cep.lse.ac.uk/_new/publications/author.asp?author=sampson


Related Links:
Ad.nl (Netherlands) - Brexit: van ‘taking back our money’ komt niets terecht/Brexit: 'taking back our money' is nothing wrong

CEP Trade

Thomas Sampson webpage



News Posted: 06/10/2017      [Back to the Top]

Share Radio [8:40:11 am]

CEP on Radio

… the share price of companies did worse than the company's ceo who actually paid less than average so if anything what you see now is actually pay for underperformance that us companies and there's another study done by two economists at the london school of economics at looked at the equivalent of big uk companies they found there was a correlation between executive high executive pay and a decent share price performance but they also found very interesting me that there was a lot of reward for luck either when there was a positive shocked to a company's share price had nothing to do with the skill executive those executives tend to get paid better they also found that mrs ceo pay these top big uk first was much more sensitive to increase his first term the firm's performance than decreases whereas we're often told that this is …

 


Related Links:
Share Radio [8:40:11 am] - CEP on Radio

CEO Pay and the Rise of Relative Performance Contracts: A Question of Governance

CEP Growth

Brian Bell webpage

John Van reenen webpage



News Posted: 06/10/2017      [Back to the Top]

CEP citations

World Trade Report 2017: Trade, technology and jobs, World Trade Organization.

CEP work cited

  • Aghion, P., Bloom, N., Blundell, R., Griffith, R. and Howitt, P. (2005), “Competition and Innovation: An Inverted-U Relationship”, The Quarterly Journal of Economics 120(2): 701-728.
  • Antràs, P., Garicano, L. and Rossi-Hansberg, E. (2006), “Offshoring in a Knowledge Economy”, The Quarterly Journal of Economics 121(1): 31-77.
  • Autor, D. H., Dorn, D., Katz, L. F., Patterson, C. and Van Reenen, J. (2017), “The Fall of the Labor Share and the Rise of Superstar Firms”, NBER Working Paper No. 23396, Cambridge, MA: National Bureau of Economic Research (NBER).
  • Berman, E. and Machin, S. (2000), “Skill-biased Technology Transfer Around the World”, Oxford Review of Economic Policy 16(3): 12-22.
  • Berman, E., Bound, J. and Machin, S. (1998), “Implications of Skill-Biased Technological Change: International Evidence”, Quarterly Journal of Economics 113(4): 1245-1279.
  • Bernard, A. B. and Fort, T. C. (2017), “Factoryless Goods Producers in the USA”, in Fontagné, L. and Harrison, A. (eds), The factory-free economy: Outsourcing, Servitization, and the Future of Industry, [5], Oxford: Oxford University Press: 136- 168.
  • Bernard, A. B. and Jensen, J. B. (1995), “Exporters, Jobs and Wages in U.S. Manufacturing: 1976-1987”, Brookings Papers on Economic Activity Microeconomics: 67-119.
  • Bernard, A. B. and Jensen, J. B. (1997), “Exporters, Skill Upgrading, and the Wage Gap”, Journal of International Economics 42(1): 3-31.
  • Bernard, A. B., Jensen, J. B., Redding, S. J. and Schott, P. K. (2007), “Firms in International Trade”, The Journal of Economic Perspectives 21(3): 105-130.
  • Bernard, A. B. and Wagner, J. (1997), “Exports and Success in German Manufacturing”, Review of World Economics 133(1): 134-157.
  • Bloom, N., Draka, M. and Van Reenen, J. (2016), “Trade Induced Technical Change? The Impact of Chinese Imports on Innovation, IT and Productivity”, The Review of Economic Studies 83(1): 87-117.
  • Bloom, N., Liang, J., Roberts, J. and Ying, Z. J. (2015), “Does Working From Home Work? Evidence From a Chinese Experiment”, Quarterly Journal of Economics 130(1): 165-218.
  • Bøler, E. A., Smarzynska Javorcik, B. and Ulltveit-Moe, K. H. (2015), “Globalization: A Woman’s Best Friend? Exporters and the Gender Wage Gap”, CEP Discussion Paper No. 1358, Centre for Economic Performance (CEP).
  • Caroli, E. and Van Reenen, J. (2001), “Skill-biased Organizational Change? Evidence From a Panel of British and French Establishments”, Quarterly Journal of Economics 116(4): 1449-1492.
  • Carrère, C., Grujovic, A. and Robert-Nicoud, F. (2015), “Trade and Frictional Unemployment in the Global Economy”, CEPR Discussion Paper No. DP10692, London: Center for Economic Policy Research (CEPR).
  • Goos, M. and Manning, A. (2007), “Lousy and Lovely Jobs: The Rising Polarization of Work in Britain”, Review of Economics and Statistics 89: 118-133.
  • Goos, M., Manning, A. and Salomons, A. (2009), “The Polarization of the European Labor Market”, American Economic Review Papers and Proceedings 99: 58-63.
  • Goos, M., Manning, A. and Salomons, A. (2014), “Explaining Job Polarization: Routine-biased Technological Change and Offshoring”, American Economic Review 104(8): 2509-2526.
  • Graetz, G. and Michaels, G. (2015), “Robots at Work”, CEP Discussion Paper No. 1335, London: Centre for Economic Performance (CEP).
  • Graetz, G. and Michaels, G. (2017), “Is Modern Technology Responsible for Jobless Recoveries?”, CEP Discussion Paper No. 1461, London: Centre for Economic Performance.
  • Helpman, E., Itskhoki, O. and Redding, S. (2010), “Inequality and Unemployment in a Global Economy”, Econometrica 78(4): 1239-1283.
  • Machin, S. (1995), “Changes in the Relative Demand for Skills in the UK Labour Market”, CEP Discussion Papers No. 221; London: Centre for Economic Performance (CEP) – London School of Economics (LSE).
  • Machin, S. and Van Reenen, J. (1998), “Technology and Changes in Skill Structure: Evidence from Seven OECD Countries”, The Quarterly Journal of Economics 113(4): 1215-1244.
  • Michaels, G., Natraj, A. and Van Reenen, J. (2014), “Has ICT Polarized Skill Demand? Evidence From Eleven Countries Over 25 Years”, Review of Economics and Statistics 96(1): 60-77.
  • Mion, G. and Zhu, L. (2013), “Import Competition From and Offshoring to China: A Curse or Blessing for Firms?”, Journal of International Economics 89(1): 202-215.
  • Sampson, T. (2014), “Selection into Trade and Wage Inequality”, American Economic Journal: Microeconomics 6(3): 157-202.

Related Links:
CEP citations - World Trade Report 2017: Trade, technology and jobs, World Trade Organization.





News Posted: 06/10/2017      [Back to the Top]

Western Telegraph

Report to Pembrokeshire County Council cabinet compares likely impact of Brexit to Sea Empress oil disaster

Brexit will hit Pembrokeshire harder than the Sea Empress disaster, according to a comparison made in a report for Cabinet next week. The Director of Development’s report ahead of an agenda item called 'Planning for Brexit' outlines a proposal that the County Council prepare for the change in financial circumstances likely once the UK “terminates” its membership of the EU. The report acknowledges the likely impact on Pembrokeshire is difficult to assess but looked at the findings of a study carried out by the London School of Economics.


Related Links:
Western Telegraph - Report to Pembrokeshire County Council cabinet compares likely impact of Brexit to Sea Empress oil disaster

The Local Economic Effects of Brexit

CEP Trade CEP Labour Markets CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 06/10/2017      [Back to the Top]

Foral.pl (Poland)

Gramy o więcej. Cała prawda o polskim rynku pracy / We play more. The whole truth about the Polish labor market

Speaking mainly about vending machines and industrial robots. A study by George, Graetz of Uppsala University and Guy Michaels of the London School of Economics, which investigated the impact of roboticisation on 14 industries in 17 different countries between 1993 and 2007, found that robots were responsible for an average of 16 percent. all productivity growth. At the same time, robots - contrary to the panoply of the Neolanders - did not contribute to the decrease in employment. There is nothing to be afraid of. On the contrary, robots and automation help keep companies competitive and therefore a prerequisite for their existence and development. Companies rarely invest in automation just to slow down. They do it to increase profits, set up new divisions and in the net result increase rather than reduce employment. But for companies to invest in machines, they have to have something.


Related Links:
Foral.pl (Poland) - Gramy o więcej. Cała prawda o polskim rynku pracy / We play more. The whole truth about the Polish labor market

Robots at work: the impact on productivity and jobs

Robots at Work

CEP Labour Markets

Georg Graetz webpage

Guy Michaels webpage



News Posted: 06/10/2017      [Back to the Top]

CEP and Government inquiries

Economic Affairs Committee hearing on tertiary education

House of Lords Economic Affairs Committee will be holding its first oral evidence session related to the inquiry into the economics of higher, further and technical education on Tuesday 10 October. Paul Johnson, Director, Institute for Fiscal Studies, The Rt Hon. the Lord Adonis and The Rt Hon Lord Willetts will all be giving evidence at this session.

CVER’s Dr Gavan Conlon scheduled to give oral evidence on 24 October 2017.


Related Links:
CEP and Government inquiries - Economic Affairs Committee hearing on tertiary education





News Posted: 05/10/2017      [Back to the Top]

CEP at Party Conferences 2017

Labour Party Conference

Immigration Minister Rt Hon Brandon Lewis stated that the government was not looking to push skilled workers to leave the UK but to implement changes for further down the line to meet the demand for less migration balanced with allowing the economy to prosper. The Minister also referred to the importance of the Migration Advisory Committee which will feed into final decisions. The second LSE fringe event had a migration focus and was entitled ‘Mind the Skills Gap. A migration trade off?’. Chaired by Prof. Tony Travers, the panelists included the Minister of State for Immigration Rt Hon. Brandon Lewis MP and LSE alumnus Syed Kamall MEP . They were joined by Dr Swati Dhingra, Vicky Price, LSE alumna and Board Member for CEBR and Caroline Artis, Senior London Partner at Ernst & Young.

 

https://gallery.mailchimp.com/a41a2fedb33c8943326acba1d/_compresseds/73617f3e-f6c7-452b-ad5e-4516d835232c.jpgThe shadow Immigration Minister Paul Blomfield suggested that whilst the party has now started the immigration conversation it hasn't done it well to date at the Labour Party Conference in Brighton the week before. The Shadow Minister said that the door will not just shut on migration for industries like hospitality and healthcare. There was also a focus on the lack of adult education and suggested improvements and alternatives were discussed. The 'Mind the Skills Gap. A migration Trade off?' event panel included Chi Onwurah MP, Shadow Minister for Industrial Strategy, Science and Innovation and Paul Blomfield MP the Shadow Minister for Exiting the European Union. Prof. Tony Travers chaired the event, and was joined by Dr Swati Dhingra and John Springfield, Centre for European Reform. The audience included, among others, journalists and lawyers.

Related links

Swati Dhingra CEP publications webpage:  http://cep.lse.ac.uk/_new/publications/author.asp?author=dhingra


Related Links:
CEP at Party Conferences 2017 - Labour Party Conference

CEP Trade

Swati Dhingra webpage



News Posted: 05/10/2017      [Back to the Top]

Livemint

A learning crisis in the developing world

A 2015 study by Stanford University’s Nicholas Bloom and others on management practices across 1,800 high schools in eight countries, including India, showed that better management produced better educational outcomes, and schools with greater autonomy did especially well (explaining at least in part the success of the UK academies and the US charter schools). Yet, in the developing world, school managements are rarely empowered or incentivized to improve learning outcomes.


Related Links:
Livemint - A learning crisis in the developing world

Does Management Matter In Schools?

CEP Growth

Nick Bloom webpage

Renata Lemos webpage

Raffaella Sadun webpage

John Van reenen webpage



News Posted: 05/10/2017      [Back to the Top]

Harvard Law School Forum on Corporate Governance and Financial Regulation

The inner workings of the Board: Evidence from emerging markets

Article by Ralph de Haas, Daniel Ferreira and Tom Kirchmaier

Our recent paper exploits data collected through an online survey of 130 current and past board directors (De Haas, Ferreira and Kirchmaier, 2017). These non-executive directors were on the boards of companies across 27 emerging markets and were all nominated by the European Bank for Reconstruction and Development. We use these nominees as entry points to access detailed information about the behaviour and conduct of their boards.


Related Links:
Harvard Law School Forum on Corporate Governance and Financial Regulation - The inner workings of the Board: Evidence from emerging markets

CEP Community CEP Labour Markets

Tom Kirchmaier webpage



News Posted: 05/10/2017      [Back to the Top]

Medium.com – Third Way

Alexa, will automation destroy my job?

Finally, the jobs most susceptible to automation are routine jobs that are made up of few, repetitive tasks, which tend to be lower- or middle-skill jobs. Non-routine jobs, on the other hand, require interpersonal or critical-thinking skills that are not easily automated. In yet another paper, Autor explains that this distinction causes automation to help high-skill workers (and some low-skill workers, such as housekeepers) to the detriment of low- and medium-skill ones. This goes for industrial robots, too. Economists Georg Graetz and Guy Michaels found that industrial robots decrease the hours worked by both low- and medium-skill workers but have no effect on total hours worked — meaning that if these robots do help some workers in the industries where they’re implemented, they’re helping the highest-skilled and best-paid employees.


Related Links:
Medium.com – Third Way - Alexa, will automation destroy my job?

CEP Labour Markets

Georg Graetz webpage

Guy Michaels webpage



News Posted: 05/10/2017      [Back to the Top]

Harvard Business Review

The real reason superstar firms are pulling ahead

But why is IT leading to winner-take-all competition? Bessen’s paper can’t answer that, however he raises two possibilities. It could be because “software development typically requires large upfront fixed costs,” meaning that firms that are already pretty large are the ones who can afford to invest in it. If it’s expensive to adopt and get good at IT, it’s more economical for big companies like Wal-Mart that can spread those costs out over lots and lots of products sold. Or maybe the firms succeeding with IT know something their competitors don’t. Perhaps, as OECD economist Chiara Criscuolo wrote in 2015, “Some firms clearly ‘get it’ and others don’t.” … superstars aren’t succeeding because of IT per se, but because they effectively combine it with other intangibles, like good management, well-known brands, or intellectual property. And, as with IT, each of those can require considerable upfront investment, meaning bigger players are better positioned to take advantage. … This hypothesis is bolstered by another recent paper. In it, John Van Reenen, Christina Patterson, and their coauthors find that industries with superstars aren’t distinguished by more investment in computers, but by more innovation as measured by patents. It’s not IT that creates superstars, but the combination of IT with other intangibles like R&D. Bessen also finds evidence linking intangible investment to higher profit margins. And it’s possible that his measure of IT employees isn’t a proxy for IT investment, but for the intangibles required to make IT profitable. … For an example of scalable intangibles in action, we can turn to McDonald’s. As Stanford’s Nicholas Bloom explains, McDonald’s created a system for running a restaurant, which required upfront effort but then could be scaled across stores. “Once a firm ‘invents’ good management it will then grow rapidly and dominate the market,” Bloom argues. …Moreover, as Sadun, Bloom, and Van Reenen have documented, cost isn’t the only reason some firms fail to adopt good management practices. Many managers simply don’t realize that their firms are poorly run; something similar could be happening with IT. In other words, maybe firms with terrible IT don’t realize how far behind they really are.

Related publications

Chiara Criscuolo CEP publications webpage:  http://cep.lse.ac.uk/_new/publications/author.asp?author=criscuolo

Related links

Chiara Criscuolo CEP alumni webpage:  http://personal.lse.ac.uk/criscuol/


Related Links:
Harvard Business Review - The real reason superstar firms are pulling ahead

The Fall of the Labor Share and the Rise of Superstar Firms

CEP Growth

Nick Bloom webpage

Raffaella Sadun webpage

John Van reenen webpage



News Posted: 05/10/2017      [Back to the Top]

Great Yarmouth Mercury

Great Yarmouth MP Brandon Lewis warns businesses may have to employ fewer staff post-Brexit

Businesses will be forced to employ fewer staff and improve productivity after Brexit, Great Yarmouth MP Brandon Lewis has warned. … Further details on how the government will tackle the problem will be made available next year when the Migration Advisory Committee (MAC), which is chaired by Professor Alan Manning from the London School of Economics, presents its report to ministers.


Related Links:
Great Yarmouth Mercury - Great Yarmouth MP Brandon Lewis warns businesses may have to employ fewer staff post-Brexit

CEP Community

Paul Cheshire webpage



News Posted: 04/10/2017      [Back to the Top]

Bloomberg News Online

U.K.'s Help to Buy seen stoking London property values: chart

The U.K. government’s decision to expand its Help to Buy program is drawing criticism because it may stimulate London’s property market again. Unless supply improves, the effect of the program is to increase home values and transfer “real assets to the wealthy or, in this case, the relatively wealthier,” said Paul Cheshire, a professor of economic geography at the London School of Economics and Political Science. It’s irresponsible to be encouraging first-time buyers into the U.K. capital’s “overpriced market” via the program, said Neal Hudson, founder of research firm Residential Analysts Ltd.

Related links

Paul Cheshire CEP publications webpage:  http://cep.lse.ac.uk/_new/publications/author.asp?author=cheshire

 


Related Links:
Bloomberg News Online - U.K.'s Help to Buy seen stoking London property values: chart

CEP Urban and Spatial Programme

Paul Cheshire webpage



News Posted: 04/10/2017      [Back to the Top]

Chronicle Live

Immigration Minister gives ominous Brexit warning to businesses when it comes to staff

The Government’s Migration Advisory Committee (MAC), chaired by Professor Alan Manning of the London School of Economics, would present a report to Government in September, and this would influence plans for a new immigration system after Brexit, he said.


Related Links:
Chronicle Live - Immigration Minister gives ominous Brexit warning to businesses when it comes to staff

CEP Community

Alan Manning webpage



News Posted: 04/10/2017      [Back to the Top]

Daily Telegraph

Letters to the Editor: The wrong way to start a reading revolution

Evidence from a recent report by Stephen Machin and his colleagues at the London School of Economics, entitled “Teaching to Teach” Literacy, shows that synthetic phonics instruction has little to no effect on reading scores by the time children reach Key Stage 2 (age 11). Their data are consistent with higher-quality, experimental studies that have found that phonics has a modest impact on reading scores initially, but no lasting impact in later grades.

Jeff McQuillan, Los Angeles, California

 


Related Links:
Daily Telegraph - Letters to the Editor: The wrong way to start a reading revolution

in brief... Children's reading: evaluating a new teaching method

"Teaching to Teach" Literacy

CEP Education and Skills

Stephen Machin webpage

Sandra Mcnally webpage



News Posted: 04/10/2017      [Back to the Top]

Devex.com

Opinion: If we’re going to strengthen our schools, we need to strengthen their leadership

A growing body of research shows the role that school leaders play at influencing student outcomes. After studying headmasters in India and abroad, Stanford University Professor Nick Bloom and his colleagues recently wrote that a one-point increase on their scoring of school management practices is associated with a 10 percent increase in student performance. McKinsey & Company’s global review cites that a school principal — just one person — accounts for 25 percent of the impact that schools have on student learning.

Related article

‘Does Management Really Work?’, Nicholas Bloom, Raffaella Sadun and John Van Reenen, Harvard Business Review, November 2012 issue

https://hbr.org/2012/11/does-management-really-work


Related Links:
Devex.com - Opinion: If we’re going to strengthen our schools, we need to strengthen their leadership

Does Management Matter In Schools?

CEP Growth

Nick Bloom webpage

Raffaella Sadun webpage

John Van reenen webpage



News Posted: 04/10/2017      [Back to the Top]

Exame (Brazil)

Está ficando mais difícil encontrar boas ideias?/Is it getting harder to find good ideas?

"Ideas, and in particular the exponential growth they entail, are getting harder and harder to find," according to a recent study by the National Bureau of Economic Research in the United States. The authors are Michael Webb, Charles I. Jones and Nicholas Bloom of the Stanford University School of Economics and John Van Reenen of the Massachusetts Institute of Technology. In a Stanford blog post, Bloom points out that there have been so many revolutionary inventions in post-World War II that it has become difficult for scientists to keep up.


Related Links:
Exame (Brazil) - Está ficando mais difícil encontrar boas ideias?/Is it getting harder to find good ideas?

Are Ideas Getting Harder to Find?

CEP Growth

Nick Bloom webpage

John Van reenen webpage



News Posted: 03/10/2017      [Back to the Top]

CEP Engagement

Conservative Party Conference

CAGE/SMF event at the Conservative Party conference in Manchester on Brexit. Dennis Novy talked about issues related to international trade, in particular the EU Single Market and customs union and potential new trade agreements.


Related Links:
CEP Engagement - Conservative Party Conference

CEP Trade

Dennis Novy webpage



News Posted: 03/10/2017      [Back to the Top]

Recruiting Times

Is a bad degree result really the end of the world?

A study by the London School of Economics (LSE) found some evidence that graduates with a 2:1 degree would earn, on average, £81,000 more over a career lifetime than someone graduating with a 2:2; however, others suggest that a person’s long-term earning potential cannot be predicted as a result of their degree classification.


Related Links:
Recruiting Times - Is a bad degree result really the end of the world?

In brief: University exam results matter

A Question of Degree: The Effects of Degree Class on Labor Market Outcomes

CEP Labour Markets

Georg Graetz webpage



News Posted: 03/10/2017      [Back to the Top]

Birmingham Mail

Businesses told they may have to learn to get by with fewer staff after Brexit

Immigration Minister Brandon Lewis says it takes 20 workers to build a house in the UK but just four workers overseas

The Government’s Migration Advisory Committee (MAC), chaired by Professor Alan Manning of the London School of Economics, would present a report to Government in September, and this would influence plans for a new immigration system after Brexit, he said.


Related Links:
Birmingham Mail - Businesses told they may have to learn to get by with fewer staff after Brexit

CEP Community

Alan Manning webpage



News Posted: 03/10/2017      [Back to the Top]

Gestión (Spain)

Positive leadership: These are the pillars of happiness at work

In March 2017 the "World Happiness Report" was published, which includes a chapter on happiness at work. In it, Richard Layard, an economist at the London School of Economics, invites us to think about the level of productivity a country would have if people were happy. Therefore, it suggests designing spaces full of happiness for all. Given this worldwide interest in the subject, the first big question to ask is: What is happiness?

Related publications

The World Happiness Report 2017, John Helliwell, Richard Layard and Jeffrey Sachs, New York: Sustainable Development Solutions Network.

http://worldhappiness.report/ed/2017/


Related Links:
Gestión (Spain) - Positive leadership: These are the pillars of happiness at work

CEP Wellbeing

Richard Layard webpage



News Posted: 03/10/2017      [Back to the Top]

EA Magazine

Essential reading selected by IEA Research Fellow Diego Zuluaga – Where did the workers go? Investigating jobless recoveries

Article by Georg Graetz and Guy Michaels

Whilst the U.S. unemployment rate has returned to pre-recession lows, there is concern among policymakers about other developments in the American labour market, notably the secular decline in the labour force participation rate since the turn of the millennium.

Related publications

‘Is modern technology responsible for jobless recoveries?’, Georg Graetz and Guy Michaels, American Economic Review 107.5 (May): 168-73.

10.1257/aer.p20171100 / http://pubs.aeaweb.org/doi/pdfplus/10.1257/aer.p20171100


Related Links:
EA Magazine - Essential reading selected by IEA Research Fellow Diego Zuluaga – Where did the workers go? Investigating jobless recoveries

In brief... Is technology to blame for jobless recoveries?

Is Modern Technology Responsible for Jobless Recoveries?

CEP Labour Markets

Georg Graetz webpage

Guy Michaels webpage



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

LSE British Politics and Policy blog

Where industry is strong and where it’s weak – key facts of UK business geography

Financial services aren’t as London-centric as the creative industries, and the coast-inland divide is growing, write Sandra Bernick, Richard Davies, and Anna Valero.

The UK’s financial services industry is not nearly as London-centric as the creative industries. Rather than the South East of England being the country’s productivity engine, it is a band stretching west from the capital along the M4 corridor towards Bristol. The East of England stands out nationally in terms of the intensity of local investment in research and development (R&D). And in addition to longstanding concerns about the North-South divide, there are emerging disparities between coastal and inland areas. These are among the key findings in our new ‘atlas’ of industry in Britain. In the latest update from the LSE Growth Commission , the new study describes and maps ten key facts about the UK’s business geography.


Related Links:
LSE British Politics and Policy blog - Where industry is strong and where it’s weak – key facts of UK business geography

Industry in Britain - An Atlas

CEP Growth

Anna Valero webpage

Richard Davies webpage



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

Bloomberg News online

More Manna From Heaven for Britain's Lucky Builders

The cure for the U.K. housing market is more supply, not more demand. It's true that Help to Buy's introduction in 2013 and a market rebound gave developers the incentive to build more, with new starts in 2016 at their highest since the crisis. Yet since 1970, construction has fallen while prices have risen, according to Dr. Christian Hilber, of the London School of Economics. Help To Buy isn't doing much to close this gap.


Related Links:
Bloomberg News online - More Manna From Heaven for Britain's Lucky Builders

CEP Urban and Spatial Programme

Christian Hilber webpage



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

GrowthBusiness.co.uk

How to grow with R&D tax credits

R&D tax relief encourages investment in research and development across the economy, according to a recently published study by the London School of Economics (LSE). Researchers from the LSE’s Centre for Economic Performance (CEP) noted that a downward trend in UK business enterprise R&D had levelled off in the mid-2000s. They also noted a change in government policy on R&D tax relief in 2008. This extended the more generous R&D tax relief scheme for small and medium-sized enterprises (SMEs) to firms with assets above €43 million (the original limit) to those with assets up to €86 million.


Related Links:
GrowthBusiness.co.uk - How to grow with R&D tax credits

Do Tax Incentives for Research Increase Firm Innovation? An RD Design for R&D

CEP Growth CEP Urban and Spatial Programme

Antoine Dechezleprêtre webpage

Elias Einiö webpage

Ralf Martin webpage

Kieu-Trang Nguyen webpage

John Van reenen webpage



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

The Highlander (University of California, USA)

Banning cell phones at schools will only result in good

For instance, as reported by the Guardian, a 2015 study called “Ill Communication: Technology, Distraction & Student Performance” found that, after schools banned mobile phones, the test scores of students improved by 6.4 percent. According to the Centre for Economic Performance, which published the study, this is equivalent to adding five days of instruction to the school year.


Related Links:
The Highlander (University of California, USA) - Banning cell phones at schools will only result in good

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: 02/10/2017      [Back to the Top]

Huffington Post

Can We Talk? Schools Try to Wrest Cell Phones From Students' Hands

Another study, published by a journal of the London School of Economics and Political Science, found that student test scores rose in four schools that banned cell phones, with most of the rise occurring among the lowest-achieving students.


Related Links:
Huffington Post - Can We Talk? Schools Try to Wrest Cell Phones From Students' Hands

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: 02/10/2017      [Back to the Top]

Yeni Safak (Turkey)

Happier working at home

According to a survey conducted by Stanford University Professor of Economics Nicholas Bloom in Singapore, those who work from home are happier than those who work in the office. We asked the people who work at home to be happy. The greatest happiness of those who work from home in Turkey is not to get into traffic. So they know the job, but they do not go to work.


Related Links:
Yeni Safak (Turkey) - Happier working at home

Does Working from Home Work? Evidence from a Chinese Experiment

Working or shirking?

CEP Growth

Nick Bloom webpage



News Posted: 01/10/2017      [Back to the Top]

BBC Brasil

Why injustice upsets inequality, according to research

A society in which poverty does not exist sounds utopian - this society is equal but unfair, so it risks collapse, argues Nicholas Bloom, a professor of economics at Stanford University. "People do not work, create or struggle without the motivation to do so," he says.

Related publications

'Measuring Economic Policy Uncertainty', Scott R. Baker, Nicholas Bloom, Steven J. Davis, The Quarterly Journal of Economics, Vol 131, Issue 4, November 2016


Related Links:
BBC Brasil - Why injustice upsets inequality, according to research

Measuring Economic Policy Uncertainty

CEP Growth

Nick Bloom webpage



News Posted: 01/10/2017      [Back to the Top]

Telegram.com (Mass; USA)

Cellphones a tricky issue for school districts in Central Mass.

Whether students are better off under more lax phone rules is yet to be determined, according to some school officials who said their policies are still too new to properly evaluate. But some recent studies have concluded cellphone use is likely more of a hindrance in school. A University of Nebraska-Lincoln report, for instance, found students were checking their phones in class more than 11 times a day on average, while another study by the London School of Economics and Political Science revealed students’ test scores increased by more than 6 percent after their schools banned the devices, and that the improvement rate more than doubled that amount for lower-achieving students in particular.


Related Links:
Telegram.com (Mass; USA) - Cellphones a tricky issue for school districts in Central Mass.

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: 01/10/2017      [Back to the Top]

Reformatorisch Dagblad (Netherlands)

Zet niet in op baanzekerheid, maar op werkzekerheid/Do not focus on job security, but on job security

There is a lot of literature that describes the link between happiness and work. For example, Richard Layard, co-founder of the Annual World Happiness Report, said in 2011 that having paid work in place three is in a top seven of factors that form the foundation of our happiness. It's not crazy: a job, whether it's a boss or as a boss, gives satisfaction. You make an income, give structure to the day and fall among the people. As Secretary of State Wiebes wrote in a letter in 2014, "Not all jobs are equally fun, and some of us need a boost on Monday morning, but a life with work has more shine and more satisfaction."

Related publications

The World Happiness Report 2017, John Helliwell, Richard Layard and Jeffrey Sachs, New York: Sustainable Development Solutions Network.

http://worldhappiness.report/ed/2017/

Past World Happiness Reports webpage:  http://worldhappiness.report/download/


Related Links:
Reformatorisch Dagblad (Netherlands) - Zet niet in op baanzekerheid, maar op werkzekerheid/Do not focus on job security, but on job security

CEP Wellbeing

Richard Layard webpage



News Posted: 30/09/2017      [Back to the Top]

Trome (Spain)

Should companies let their employees work from home? This study states that it is the best option

This is stated in the unique study of Stanford University economics professor Nicholas Bloom. According to the study, the number of people working from home has tripled in the last 30 years. However, the number of people following this system is very small compared to the traditional system.


Related Links:
Trome (Spain) - Should companies let their employees work from home? This study states that it is the best option

Does Working from Home Work? Evidence from a Chinese Experiment

Working or shirking?

CEP Growth

Nick Bloom webpage



News Posted: 30/09/2017      [Back to the Top]

LBC online

Maajid Nawaz: Maajid explains to leaver why immigration does not reduce wages

"Wheat and bread isn't analogous to workers coming to the country and that being the cause of the depreciation of wages. "The Economic Centre at LSE's Centre of Policy and Research [sic], have studied precisely this only about a month and a half ago. "They came to the conclusion that one of the biggest causes of wage depreciation was in fact the economic crash. It's the bankers that have caused your suffering, not the immigrants.


Related Links:
LBC online - Maajid Nawaz: Maajid explains to leaver why immigration does not reduce wages

CEP Labour Markets

Jonathan Wadsworth webpage



News Posted: 30/09/2017      [Back to the Top]

The Times

Bigger rewards and less risk are making crime more attractive

One of the leading authorities on the subject today is Stephen Machin, director of the Centre for Economic Performance at the London School of Economics. He has analysed London Metropolitan police data over the decade to 2012 and scraped drug marketplaces on the dark web to show that criminals not only act rationally but operate sophisticated economic models, too…. “People with something to lose are less likely to view criminal participation as attractive, and crime reduction can therefore be achieved by influencing life opportunities,” Olivier Marie, Mr Machin’s colleague at the LSE, wrote recently.

Also in:

The Australian

Bigger rewards and less risk for crime

One of the leading authorities on the subject today is Stephen Machin, director of the Centre for Economic Performance at the London School of Economics. He has analysed London Metropolitan police data over the decade to 2012 and scraped drug marketplaces on the dark web to show that criminals not only act rationally but operate sophisticated economic models, too.

http://www.theaustralian.com.au/news/world/the-times/bigger-rewards-and-less-risk-for-crime/news-story/afa3c758338785f3ffe75f3bd27b0202

 

The Times (Irish edition)

Bigger rewards and less risk are making crime more attractive

https://printmonitoringservice.vuelio.co.uk/file/displaypdf?articleid=309922&clientname=86099_LSE_PRINT&filename=402962453.pdf

 


Related Links:
The Times - Bigger rewards and less risk are making crime more attractive

The Economic Functioning of Online Drugs Markets

Lessons from the economics of crime

CEP Labour Markets CEP Education and Skills

Stephen Machin webpage

Olivier Marie webpage



News Posted: 30/09/2017      [Back to the Top]

Farmers Guardian

Non-EU workers targeted to plug agricultural labour gap

British agriculture has become a less attractive place to work for EU migrants and the industry needs to be able to look outside the EU to source more labour. This was the call from the chairman of NFU Scotland’s Horticulture committee, James Porter, who pushed for the ‘urgent’ introduction of a scheme allowing 20,000 non-EU seasonal workers into the UK each year. … Mr Porter, a soft fruit grower in Carnoustie, Angus, made the call during a meeting with Prof Alan Manning, chairman of the Migration Advisory Committee, a body which focuses on the impact of Brexit on the UK labour market.


Related Links:
Farmers Guardian - Non-EU workers targeted to plug agricultural labour gap

CEP Community

Alan Manning webpage



News Posted: 29/09/2017      [Back to the Top]

El Diario.es (Spain)

The technology affects employment, but the fault is not (only) Uber or the robots

"There have always been, but the increase in numbers seems to have started about 30 years ago," says MIT researcher John Michael Van Reenen, one of the proponents of this theory and co-author of the study. pick up Surely the names of the signatures sound to you: in the list of corporate celebrities of Van Reenen and his colleagues are included the experienced Google, Amazon, Facebook and Apple as the relatively new Airbnb, Tesla and Uber.


Related Links:
El Diario.es (Spain) - The technology affects employment, but the fault is not (only) Uber or the robots

The Fall of the Labor Share and the Rise of Superstar Firms

CEP Growth

John Van reenen webpage



News Posted: 29/09/2017      [Back to the Top]

Daily Mail

Trump goes to war with World Trade Organisation

Dennis Novy, professor of economics at the University of Warwick, said the tariff slapped on Bombardier was ‘designed to completely kill’ the C-Series programme. ‘Trump is telling the rest of the world that he doesn’t care about the rules,’ he said.


Related Links:
Daily Mail - Trump goes to war with World Trade Organisation

CEP Trade

Dennis Novy webpage



News Posted: 29/09/2017      [Back to the Top]

Economist

The cost of innovation has risen, and productivity has suffered

But the exploitation of currently available knowledge is far from complete

A recent paper by Nicholas Bloom, Charles Jones and Michael Webb of Stanford University, and John Van Reenen of the Massachusetts Institute of Technology…


Related Links:
Economist - The cost of innovation has risen, and productivity has suffered

Are Ideas Getting Harder to Find?

CEP Growth

Nick Bloom webpage

John Van reenen webpage



News Posted: 29/09/2017      [Back to the Top]

Delo (Slovenia)

Boštjan J. Turk: Money and Mental Health

Lord Richard Layard, who informed the public about research at this school, said that the average person has not become happier in the past twenty years, although in this period average per capita income has more than doubled. The London School of Economics found that the vast majority of human (spiritual) misery can be attributed entirely to other factors than poverty - especially demolished human relationships and (physical and mental) illnesses. The fact that in developed countries every third to fourth citizen is on antidepressants and drugs, it is not only worrying but alarming!

Related publications

Happiness: Lessons from a New Science (2005) Richard Layard, Penguin Books

 

 


Related Links:
Delo (Slovenia) - Boštjan J. Turk: Money and Mental Health

CEP Wellbeing

Richard Layard webpage



News Posted: 28/09/2017      [Back to the Top]

The Beacon

How the UK can benefit from a free trade future after Brexit - even outside the Single Market

Too many economists have refused to take seriously the idea that Brexit has the potential to provide economic benefits to the UK. Before the referendum, Treasury economists assured the public that a vote to leave would cause “an immediate and profound shock to our economy” leading to recession and a large increase in unemployment. These are predictions that have since proved to be very wide of the mark. Modelling by the LSE’s Centre for Economic Performance (CEP) predicted that leaving the EU could only have negative consequences for the UK economy


Related Links:
The Beacon - How the UK can benefit from a free trade future after Brexit - even outside the Single Market

Foreign investors love Britain - but Brexit would end the affair

The impact of Brexit on foreign investment in the UK

CEP Trade CEP Growth

Swati Dhingra webpage

Gianmarco Ottaviano webpage

Thomas Sampson webpage

John Van reenen webpage



News Posted: 28/09/2017      [Back to the Top]

LSE Business Review

Expert panel: People from small, socially cohesive countries are happier

Opinion is divided on whether the breakup of large, diverse countries can increase national wellbeing, write Tony Beatton, Paul Frijters and Nattavudh (Nick) Powdthavee  Among the world’s rich countries, those that are smaller and more socially cohesive tend to have happier populations on average. That is the consensus finding of a survey of leading researchers on wellbeing from around the world. But opinion is divided among the experts on whether the break-up of large, diverse countries into smaller, less diverse ones can be expected to increase national wellbeing. One researcher comments that Catalonia might be an interesting experiment if it were to gain independence.


Related Links:
LSE Business Review - Expert panel: People from small, socially cohesive countries are happier

CEP Wellbeing

Paul Frijters webpage

Nattavudh Powdthavee webpage



News Posted: 28/09/2017      [Back to the Top]

Independent

Brexit: 'Zero chance' leaving EU will make Britons better off, Nobel laureate economist Paul Krugman says

Exclusive: Krugman rejects the assertions of Brexiteers that leaving the single market and customs union will ultimately help the UK export more to the rest of the world. A study by economists at the London School of Economics has estimated the damage could be as great as 9.5 per cent of GDP if the UK leaves the EU without a free trade deal.


Related Links:
Independent - Brexit: 'Zero chance' leaving EU will make Britons better off, Nobel laureate economist Paul Krugman says

Brexit: the impact on UK trade and living standards

The consequences of Brexit for UK trade and living standards

CEP Growth CEP Trade

Swati Dhingra webpage

Gianmarco Ottaviano webpage

Thomas Sampson webpage

John Van reenen webpage



News Posted: 27/09/2017      [Back to the Top]

The UK in a Changing Europe blog

Florence speech falls short on the details of a bespoke arrangement with the EU

Article by Swati Dhingra and Josh De Lyon. On trade, the PM reiterated that the UK would be outside the Single Market and the Customs Union after Brexit. The UK would not pursue off-the-shelf arrangements, like those of Norway and Canada, as models for a future trade deal with the EU. The PM acknowledged that the Norway model would provide high levels of market access but it would also require free movement of people and adopting many of EU’s rules (without having a say in them). The Canada model would overcome these two issues, but it would not go very far in maintaining market access, particularly in services trade.


Related Links:
The UK in a Changing Europe blog - Florence speech falls short on the details of a bespoke arrangement with the EU

CEP Trade

Josh De lyon webpage

Swati Dhingra webpage



News Posted: 27/09/2017      [Back to the Top]

LBC Radio - Live with Nick Ferrari

How much does a #Brexit transition period help British business?

Dennis Novy was interviewed. The topic was the potential Brexit transition period, and to what extent it would help British business.

 

Related links

[subscription required]

http://lbc.audioagain.com/presenters/7-nick-ferrari/101-the-whole-show

 


Related Links:
CEP Trade

Dennis Novy webpage



News Posted: 27/09/2017      [Back to the Top]

Kurzy.cz (Czechoslovakia)

Governing excessive growth pessimism, we do not believe so many official numbers

There may come a whole range of inventions that we can hardly imagine today. Already existing innovations also need some time to affect productivity in production chains. This concerns robotics and a range of new technologies. But key progress will be made in the scientific field, it is estimated that 90% of all scientists who have ever lived are alive now. But their marginal productivity seems to fall sharply. Nicholas Bloom of MIT says it's getting harder to come up with a breakthrough idea, and more and more scientists are needed to keep productivity growth.

Also in:

Patria.cz (Czechoslovakia)

Governing excessive growth pessimism, we do not believe so many official numbers

https://www.patria.cz/zpravodajstvi/3634619/vladne-prehnany-rustovy-pesimismus-neverme-tolik-oficialnim-cislum.html


Related Links:
Kurzy.cz (Czechoslovakia) - Governing excessive growth pessimism, we do not believe so many official numbers

Are Ideas Getting Harder to Find?

CEP Growth

Nick Bloom webpage

John Van reenen webpage



News Posted: 27/09/2017      [Back to the Top]

The Wire

As scaling effects of research productivity diminish, India must step up R&D investment

A new working paper at the NBER looks into the productivity of research effort, that is, how research effort correlates with an increase in output. ‘Are Ideas Getting Harder to Find‘, authored by Nicholas Bloom and Michael Webb of Stanford University, John Van Reenen of Massachusetts Institute of Technology and Jones himself, tries to empirically calculate research productivity in the US both at the micro (industry) level and the aggregate US economy as a whole.


Related Links:
The Wire - As scaling effects of research productivity diminish, India must step up R&D investment

Are Ideas Getting Harder to Find?

CEP Growth

Nick Bloom webpage

John Van reenen webpage



News Posted: 26/09/2017      [Back to the Top]

Les Echos (France)

Productivity is cultivated

Over the last decade, economists have worked hard on the impact of management on productivity. The effectiveness of management, measured by a set of indicators (quality of internal monitoring, setting clear objectives, promoting talent, appropriate incentives, etc.) remains a strength of America. Economists Nicholas Bloom of Stanford, Raffaella Sadun of Harvard and John Van Reenen of the London School of Economics estimate that management accounts for one-third of countries' total factor productivity lag in the United States covering 11,000 enterprises in 34 countries). Technological progress may be slowing down. But there are still huge fields of productivity to cultivate.


Related Links:
Les Echos (France) - Productivity is cultivated

Management as a Technology?

Management Practices Across Firms and Countries

CEP Trade CEP Growth

Nick Bloom webpage

Raffaella Sadun webpage

John Van reenen webpage



News Posted: 26/09/2017      [Back to the Top]

Howling Pixel

Technological unemployment

Some recent studies however, such as a 2015 paper by Georg Graetz and Guy Michaels, found that at least in the area they studied – the impact of industrial robots – innovation is boosting pay for highly skilled workers while having a more negative impact on those with low to medium skills


Related Links:
Howling Pixel - Technological unemployment

Robots at work: the impact on productivity and jobs

Robots at Work

CEP Labour Markets

Georg Graetz webpage

Guy Michaels webpage



News Posted: 26/09/2017      [Back to the Top]

The Independent (Daily Edition)

Zero chance Brexit will make UK better off, Nobel laureate economist says

A study by economists at the London School of Economics has estimated the damage could be as great as 9.5 per cent of GDP if the UK leaves the EU without a free trade deal.

Related article

‘The cost of Brexit to trade? At least £850 per household, per year’, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, LSE Brexit blog, 19 March 2017

http://blogs.lse.ac.uk/brexit/2016/03/19/the-cost-of-brexit-to-trade-at-least-850-per-household-per-year/


Related Links:
The Independent (Daily Edition) - Zero chance Brexit will make UK better off, Nobel laureate economist says

The consequences of Brexit for UK trade and living standards

CEP Trade CEP Growth

Swati Dhingra webpage

Gianmarco Ottaviano webpage

Thomas Sampson webpage

John Van reenen webpage



News Posted: 26/09/2017      [Back to the Top]

Financial Times

Business fears Brexit will hit sales, study finds

British companies are increasingly concerned that Brexit will hit sales and raise costs, according to a survey backed by the Bank of England. Tracking the views of chief executives and chief financial officers across 2,500 non-financial companies every month, the survey by Nottingham and Stanford universities has been collecting data for a year and has just produced its first results. ... Professor Nick Bloom of Stanford University, California, said the UK's productivity might be hit, since productivity growth had been stronger in areas where business investment sentiment was weakest.


Related Links:
Financial Times - Business fears Brexit will hit sales, study finds

CEP Growth

Nick Bloom webpage



News Posted: 25/09/2017      [Back to the Top]

St Louis Post Dispatch

Why the world’s workers are losing to capitalists

Recently, a lot of attention has focused on the idea that monopoly power might be causing the shift. But the famous paper that draws this connection — by David Autor, David Dorn, Lawrence Katz, Christina Patterson and John Van Reenen — also shows that it can account for perhaps only 20 percent of the change. This means other possible explanations for labor's decline, like increasing automation or globalization, need to be re-examined.

Related publications

‘Concentrating on the Fall of the Labor Share’, David Autor, David Dorn, Lawrence F. Katz, Christina Patterson and John Van Reenen, American Economic Review: Papers & Proceedings, Volume 107(5), May 2017

https://doi.org/10.1257/aer.p20171102

http://pubs.aeaweb.org/doi/pdfplus/10.1257/aer.p20171102


Related Links:
St Louis Post Dispatch - Why the world’s workers are losing to capitalists

Concentrating on the Fall of the Labor Share

CEP Growth

John Van reenen webpage



News Posted: 25/09/2017      [Back to the Top]

NJ Today (New Jersey, USA)

Big ideas are getting harder to find

Nicholas Bloom, a SIEPR senior fellow and co-author of a paper released this week by the National Bureau of Economic Research, contends that so many game-changing inventions have appeared since World War II that it’s become increasingly difficult to come up with the next big idea.


Related Links:
NJ Today (New Jersey, USA) - Big ideas are getting harder to find

Are Ideas Getting Harder to Find?

CEP Growth

Nick Bloom webpage

John Van reenen webpage



News Posted: 25/09/2017      [Back to the Top]

LSE Brexit blog

Florence speech falls short on the details of a bespoke arrangement with the EU

Theresa May stepped in to lead the discussion on what the UK hopes to achieve from its Brexit negotiations with the EU. Swati Dhingra and Josh De Lyon (CEP, LSE) argue that her Florence speech has set the tone for details that are yet to come.


Related Links:
LSE Brexit blog - Florence speech falls short on the details of a bespoke arrangement with the EU

CEP Trade

Josh De lyon webpage

Swati Dhingra webpage



News Posted: 25/09/2017      [Back to the Top]

Forbes (Mexico)

Lo que debes saber sobre liderazgo positive/What you should know about positive leadership

The World Happiness Report indicates that bosses have a major effect on the happiness of team members

In March 2017 the "World Happiness Report" was published, which includes a chapter on happiness at work. In it, Richard Layard, an economist at the London School of Economics, invites us to think about the level of productivity a country would have if people were happy. Therefore, it suggests designing spaces full of happiness for all. Given this worldwide interest in the subject, the first big question to ask is: What is happiness?

Related publications

The World Happiness Report 2017, John Helliwell, Richard Layard and Jeffrey Sachs, New York: Sustainable Development Solutions Network.

http://worldhappiness.report/ed/2017/


Related Links:
Forbes (Mexico) - Lo que debes saber sobre liderazgo positive/What you should know about positive leadership

CEP Wellbeing

Richard Layard webpage



News Posted: 25/09/2017      [Back to the Top]

Viva Nicaragua canal 13

Científicos afirman que los 23 años de edad son los más felices/Scientists say 23-year-olds are the happiest

If you thought that childhood is the best stage of life, you are wrong, because, according to a study by Center For Economic Performance, the ages in which the human being experiences happiness at its best is 23 and 69 years respectively.


Related Links:
Viva Nicaragua canal 13 - Científicos afirman que los 23 años de edad son los más felices/Scientists say 23-year-olds are the happiest

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

CEP Wellbeing

Hannes Schwandt webpage



News Posted: 23/09/2017      [Back to the Top]

Brainerd Dispatch

Wealth enhancement column: happy retirement

While aging was once thought of as a negative thing, a study by the Centre for Economic Performance at the London School of Economics found that, on average, people's happiness peaks at ages 23 and 69. At 69, nearly 70 percent of Americans are also retired.


Related Links:
Brainerd Dispatch - Wealth enhancement column: happy retirement

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

CEP Wellbeing

Hannes Schwandt webpage



News Posted: 23/09/2017      [Back to the Top]

CounterFire

Robots and AI: utopia or dystopia? Part one

In recent work, Graetz and Michaels looked at 14 industries (mainly manufacturing industries, but also agriculture and utilities) in 17 developed countries (including European countries, Australia, South Korea, and the US). They found that industrial robots increase labour productivity, total factor productivity, and wages.  At the same time, while industrial robots had no significant effect on total hours worked, there is some evidence that they reduced the employment of low skilled workers, and, to a lesser extent, also middle skilled workers.


Related Links:
CounterFire - Robots and AI: utopia or dystopia? Part one

Robots at work: the impact on productivity and jobs

Robots at Work

CEP Labour Markets

Georg Graetz webpage

Guy Michaels webpage



News Posted: 23/09/2017      [Back to the Top]

Economist

Letters to the Editor: Patrick Minford responds

Rather, by using detailed quality-adjusted OECD prices we reach roughly the same estimates of nontariff barriers that the researchers at the London School of Economics cite for their own w...


Related Links:
Economist - Letters to the Editor: Patrick Minford responds

‘ECONOMISTS FOR BREXIT’: A critique

CEP Trade CEP Growth

Swati Dhingra webpage

Gianmarco Ottaviano webpage

Thomas Sampson webpage



News Posted: 23/09/2017      [Back to the Top]

Farming UK

Exchange rate and other favourable countries sees UK migrant labour shortage

NFU Scotland warns that this will only "get worse year on year" for Scotland's soft fruit and vegetable sectors. The pre and post Brexit employment needs of Scotland’s fast-growing horticultural sector were outlined at a meeting of the UK’s Migration Advisory Committee in Edinburgh this week. NFU Scotland’s Horticulture Committee Chairman James Porter, who grows soft fruit as part of a mixed farming enterprise at East Scryne, Carnoustie met with Professor Alan Manning, chair of the Migration Advisory Committee at a roundtable meeting with stakeholders.


Related Links:
Farming UK - Exchange rate and other favourable countries sees UK migrant labour shortage

CEP Labour Markets

Alan Manning webpage



News Posted: 22/09/2017      [Back to the Top]

World Economic Forum

8 ways to unlock the power of a community

What is the key to happiness? This is a question that people have been asking for thousands of years. But this question need not be an esoteric and philosophical one. Studies at Harvard University, the London School of Economics, and other research have consistently identified the root of happiness: having rich social bonds and meaningful relationships. Being a part of strong communities is a powerful way for people to build those relationships in a faster, more scalable way. Membership in a community comes with an immediate level of social connection that can be developed further over time and can help people to expedite the formation of meaningful relationships.

Associated article

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


Related Links:
World Economic Forum - 8 ways to unlock the power of a community

CEP Wellbeing

George Ward webpage

Andrew Clark webpage

Sarah Flèche webpage

Richard Layard webpage

Nattavudh Powdthavee webpage



News Posted: 22/09/2017      [Back to the Top]

The Times

The M4 corridor is more productive for the British economy than the southeast, report finds

The M4 corridor is more productive for the British economy than the southeast, report finds

A study into the industrial breakdown of the country by the Centre for Economic Performance (CEP) at the London School of Economics has exposed some well-worn assumptions about the UK economy as myths and raised questions about how to spread prosperity across the nation.

Also in

The Times

Patchy prosperity is the real British disease

A new study shows poor productivity is not explained by simplistic talk of a north-south divide

Weak productivity equals weak wages, equals social division, equals many of the problems haunting the country today. But the odd thing is that until now no one had thought to dig deep into the data underlying these problems. That all changes today, with the release of a paper by Richard Davies, Anna Valero and Sandra Bernick from the London School of Economics.

https://www.thetimes.co.uk/article/patchy-prosperity-is-the-real-british-disease-d9pqddfh9

Related links

LSE Growth Commission website:  http://www.lse.ac.uk/researchAndExpertise/units/growthCommission/home.aspx


Related Links:
The Times - The M4 corridor is more productive for the British economy than the southeast, report finds

Industry in Britain - An Atlas

CEP Growth

Anna Valero webpage

Richard Davies webpage



News Posted: 22/09/2017      [Back to the Top]

LSE News

New LSE report on uneven spread of UK industry

The South-East is not the country’s productivity engine, rather a band stretching west from the capital towards Bristol is, according to a new LSE report which challenges prevailing wisdom on the uneven spread of industry across the UK.
 
Other findings include that the UK’s financial services industry is not nearly as London-centric as the creative industries. The East of England stands out nationally in terms of the intensity of local investment in research and development (R&D). And in addition to longstanding concerns about the North-South divide, there are emerging disparities between coastal and inland areas.
 
These are among the key findings in a new ‘atlas’ of industry in Britain published today in a special report by Sandra Bernick, Richard Davies and Anna Valero at the Centre for Economic Performance (CEP) at the London School of Economics (LSE).

 


Related Links:
LSE News - New LSE report on uneven spread of UK industry

Industry in Britain - An Atlas

CEP Growth

Anna Valero webpage



News Posted: 21/09/2017      [Back to the Top]

Sky News TV

Anna Valero of CEP and LSE interviewed, warning the government that it needs to do more to finance innovation.


Related Links:
Sky News TV - Anna Valero of CEP and LSE interviewed, warning the government that it needs to do more to finance innovation.

The Economic Impact of Universities: Evidence from Across the Globe

CEP Growth

Anna Valero webpage



News Posted: 21/09/2017      [Back to the Top]

Ideas.Ted.com

Why working from home should be standard practice

And if your boss is on the fence, here’s a compelling case study — from economics professor Nicholas Bloom — to show her. Imagine a person working from home. If you pictured somebody in pajamas watching videos on their laptop, you’re not alone. “Many people think of working from home as shirking from home,” says Stanford University economics professor Nicholas Bloom (TEDxStanford Talk: Go ahead, tell your boss you are working from home).


Related Links:
Ideas.Ted.com - Why working from home should be standard practice

Does Working from Home Work? Evidence from a Chinese Experiment

CEP Growth

Nick Bloom webpage



News Posted: 20/09/2017      [Back to the Top]

Writer Beat blog

Why small isn’t always beautiful: labor regulations and firm growth

Article by John Van Reenen

What are the costs and benefits of regulation? Most countries treat smaller firms more generously when it comes to business regulation, exempting them from some of the burdens on larger firms. This research uses this institutional feature to show how the overall costs of regulation can be calculated from observing companies’ response to this “tax on firm size”.

Related publications

‘Firm Size Distortions and the Productivity Distribution: Evidence from France’, Luis Garicano, Claire Lelarge and John Van Reenen, American Economic Review 106(11) 3439-79, November 2016

https://www.aeaweb.org/articles?id=10.1257/aer.20130232

 


Related Links:
Writer Beat blog - Why small isn’t always beautiful: labor regulations and firm growth

Firm Size Distortions and the Productivity Distribution: Evidence from France

CEP Growth

Luis Garicano webpage

John Van reenen webpage



News Posted: 20/09/2017      [Back to the Top]

Writer Beat blog

Why small isn't always beautiful: labor regulations and firm growth

Article by John Van Reenen: What are the costs and benefits of regulation? Most countries treat smaller firms more generously when it comes to business regulation, exempting them from some of the burdens on larger firms. This research uses this institutional feature to show how the overall costs of regulation can be calculated from observing companies’ response to this “tax on firm size”.


Related Links:
Writer Beat blog - Why small isn't always beautiful: labor regulations and firm growth

Firm Size Distortions and the Productivity Distribution: Evidence from France

CEP Growth

John Van reenen webpage



News Posted: 20/09/2017      [Back to the Top]

Vox

Ideas aren't running out, but they are getting more expensive to find

Article by Nicholas Bloom, Charles I. Jones, John Van Reenen and Michael Webb: The rate of productivity growth in advanced economies has been falling. Optimists hope for a fourth industrial revolution, while pessimists lament that most potential productivity growth has already occurred. This column argues that data on the research effort across all industries shows the costs of extracting ideas have increased sharply over time. This suggests that unless research inputs are continuously raised, economic growth will continue to slow in advanced nations.


Related Links:
Vox - Ideas aren't running out, but they are getting more expensive to find

Are Ideas Getting Harder to Find?

CEP Growth

Nick Bloom webpage

John Van reenen webpage



News Posted: 20/09/2017      [Back to the Top]

European Union News – Durham University: Thought Leadership

How the UK can benefit from a free trade future after Brexit – even outside the single market

Professor of Finance and Economics, Kevin Dowd (Durham University), Professor David Paton (Nottingham University) and Professor David Blake (University of London) discuss how the UK can benefit from a free trade future after Brexit…. Too many economists have refused to take seriously the idea that Brexit has the potential to provide economic benefits to the UK. Before the referendum, Treasury economists assured the public that a vote to leave would cause “an immediate and profound shock to our economy” leading to recession and a large increase in unemployment. These are predictions that have since proved to be very wide of the mark. Modelling by the LSE’s Centre for Economic Performance (CEP) predicted that leaving the EU could only have negative consequences for the UK economy.


Related Links:
European Union News – Durham University: Thought Leadership - How the UK can benefit from a free trade future after Brexit – even outside the single market

The impact of Brexit on foreign investment in the UK

CEP Trade CEP Growth

Swati Dhingra webpage

Gianmarco Ottaviano webpage

Thomas Sampson webpage

John Van reenen webpage



News Posted: 20/09/2017      [Back to the Top]

Young Socialists

Why do young people need socialism?

The future for young people in Britain today looks very bleak. The Centre for Economic Performance reports that within Britain - which is surpassed only by Greece for worst wage growth of the OECD countries - it is 18 to 21-year-olds who have been hit the hardest. Their wages have been cut by 16% in real terms between 2008 and 2016.


Related Links:
Young Socialists - Why do young people need socialism?

Real Wages and Living Standards in the UK

CEP Labour Markets

Rui Costa webpage

Stephen Machin webpage



News Posted: 20/09/2017      [Back to the Top]

Bloomberg

Why workers are losing to capitalists

Back in April, I wrote about one of the most troubling mysteries in economics, the falling labor share. Less of the income the economy produces is going to people who work, and more is going to people who own things. … Recently, a lot of attention has focused on the idea that monopoly power might be causing the shift. But the famous paper that draws this connection -- by David Autor, David Dorn, Lawrence Katz, Christina Patterson and John Van Reenen -- also shows that it can account for perhaps only 20 percent of the change. This means other possible explanations for labor's decline, like increasing automation or globalization, need to be re-examined.

Related publications

‘Concentrating on the Fall of the Labor Share’, David Autor, David Dorn, Lawrence F. Katz, Christina Patterson and John Van Reenen, American Economic Review: Papers & Proceedings, Volume 107(5), May 2017

https://doi.org/10.1257/aer.p20171102

http://pubs.aeaweb.org/doi/pdfplus/10.1257/aer.p20171102


Related Links:
Bloomberg - Why workers are losing to capitalists

Concentrating on the Fall of the Labor Share

CEP Growth

John Van reenen webpage



News Posted: 20/09/2017      [Back to the Top]

The Times

Rise of the accidental manager lies behind UK's low productivity

Research from the Centre for Economic Performance at the London School of Economics, which developed a management performance score based on employee ratings of supervisors, found that Britain ranked fifth out of the G7 economies.

Related publications

‘New Approaches to Surveying Organizations’, Nicholas Bloom and John Van Reenen, American Economic Review: Papers and Proceedings, Volume 100, May 2010

http://worldmanagementsurvey.org/wp-content/images/2010/07/New-Approaches-to-Surveying-Organizations-Bloom-and-Van-Reenen.pdf

 

Related links

Management Practices and Organisational Structures research webpage:  http://cep.lse.ac.uk/_new/research/growth/management_practices_and_organisational_structures.asp

 


Related Links:
The Times - Rise of the accidental manager lies behind UK's low productivity

CEP Growth

Nick Bloom webpage

John Van reenen webpage



News Posted: 20/09/2017      [Back to the Top]

Managers.org.uk

How accidental managers are draining productivity

Research from the Centre for Economic Performance at the London School of Economics found that the problem was particularly prevalent in Great Britain, with the country scoring just 3.03 out of five for management best practice, behind the US (3.31), Japan (3.23), Germany (3.21) and Canada (3.14).

Related publications

‘New Approaches to Surveying Organizations’, Nicholas Bloom and John Van Reenen, American Economic Review: Papers and Proceedings, Volume 100, May 2010

http://worldmanagementsurvey.org/wp-content/images/2010/07/New-Approaches-to-Surveying-Organizations-Bloom-and-Van-Reenen.pdf

Related links

Management Practices and Organisational Structures research webpage:  http://cep.lse.ac.uk/_new/research/growth/management_practices_and_organisational_structures.asp


Related Links:
Managers.org.uk - How accidental managers are draining productivity

CEP Growth

Nick Bloom webpage

John Van reenen webpage



News Posted: 20/09/2017      [Back to the Top]

BBC Somerset (5:19:24 PM)

Tom Kirchmaier comments on police funding


Related Links:
BBC Somerset (5:19:24 PM) - Tom Kirchmaier comments on police funding

CEP Labour Markets CEP Community

Tom Kirchmaier webpage



News Posted: 19/09/2017      [Back to the Top]

BBC Somerset (5:19:24 PM)

Tom Kirchmaier comments on police funding

Click to open


Related Links:
CEP Labour Markets CEP Community

Tom Kirchmaier webpage



News Posted: 19/09/2017      [Back to the Top]

LSE Business Review blog

Towards a modern UK industrial strategy

There's an opportunity to build a new system based on transparency, independence and a long-term outlook, write Anna Valero and Richard Davies

Every government has an industrial strategy however it is articulated: government affects the investment climate for business through tax and regulation; establishes national priorities; invests in skills, infrastructure and research; and procures outputs from the private sector – all of which influence the evolution of the private economy.

Related publications

UK Growth: A New Chapter, the LSE Growth Commission’s 2017 report

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

Related links

LSE Growth Commission webpage:  http://www.lse.ac.uk/researchAndExpertise/units/growthCommission/home.aspx


Related Links:
LSE Business Review blog - Towards a modern UK industrial strategy

Towards a new UK industrial strategy

CEP Growth

Richard Davies webpage

Anna Valero webpage



News Posted: 19/09/2017      [Back to the Top]

Jordan Times

The two pillars of French economic reform

Article by Philippe Aghion and Benedicte Berner

The French government has just announced the guidelines for a new labour code, its first major reform to boost France’s economy by giving more flexibility to companies to adapt to the marketplace.

The second major reform sought by President Emmanuel Macron’s Cabinet — an overhaul of the French state — is set to follow. The changes to the labour code have four goals. First, direct negotiations between employers and employees in small and medium-size firms (accounting for 55 per cent of the workforce) would be facilitated by allowing such companies to negotiate with elected representatives not mandated by the trade unions.


Related Links:
Jordan Times - The two pillars of French economic reform

CEP Growth

Philippe Aghion webpage



News Posted: 19/09/2017      [Back to the Top]

Pittsburgh Post-Gazette

David Brooks: The economy isn’t broken

In a well-functioning economy, workers are rewarded for their productivity. As output, jobs and hours worked rise, so does income. Over the past two years, that seems to be exactly what’s happening.

The evidence from the past two years strongly supports those who have argued all along that income has not decoupled from productivity. A wide range of economists, including Martin Feldstein, Stephen Rose, Edward Lazear, Joao Paulo Pessoa, John Van Reenen, Richard Anderson of the St. Louis Fed and a team from Goldman Sachs, have produced studies showing wages tracking very predictably with productivity.


Related Links:
Pittsburgh Post-Gazette - David Brooks: The economy isn’t broken

Wage growth and productivity growth: the myth and reality of 'decoupling'

Decoupling of Wage Growth and Productivity Growth? Myth and Reality

CEP Growth

John Van reenen webpage



News Posted: 18/09/2017      [Back to the Top]

The Indiana Gazette

In reality the economy isn’t broken

In a well-functioning economy, workers are rewarded for their productivity. As output, jobs and hours worked rise, so does income. Over the past two years, that seems to be exactly what’s happening.

The evidence from the past two years strongly supports those who have argued all along that income has not decoupled from productivity. A wide range of economists, including Martin Feldstein, Stephen Rose, Edward Lazear, Joao Paulo Pessoa, John Van Reenen, Richard Anderson of the St. Louis Fed and a team from Goldman Sachs, have produced studies showing wages tracking very predictably with productivity.


Related Links:
The Indiana Gazette - In reality the economy isn’t broken

Wage growth and productivity growth: the myth and reality of 'decoupling'

Decoupling of Wage Growth and Productivity Growth? Myth and Reality

CEP Growth

John Van reenen webpage



News Posted: 17/09/2017      [Back to the Top]

Financial Times – Gavyn Davies’ blog

American growth pessimism may be overdone

A fascinating new paper by Nicholas Bloom and colleagues at Stanford and MIT has created waves by claiming that ideas are getting harder to find, which implies that many more researchers are needed to maintain a given rate of growth in total factor productivity in any given field (see Isabella Kaminska here).


Related Links:
Financial Times – Gavyn Davies’ blog - American growth pessimism may be overdone

Are Ideas Getting Harder to Find?

CEP Growth

Nick Bloom webpage

John Van reenen webpage



News Posted: 17/09/2017      [Back to the Top]

City A.M.

American growth pessimism may be overdone

Some economists have warned that the UK is heading for a house price collapse London School of Economics professor Paul Cheshire has said we are due "a significant correction".


Related Links:
City A.M. - American growth pessimism may be overdone

CEP Urban and Spatial Programme

Paul Cheshire webpage



News Posted: 17/09/2017      [Back to the Top]

American Enterprise Institute

Around the web: Correcting the economic narrative, Greg Mankiw’s reading list, and more The economy isn’t broken after all

In a well-functioning economy, workers are rewarded for their productivity. As output, jobs and hours worked rise, so does income. Over the past two years, that seems to be exactly what’s happening. The evidence from the past two years strongly supports those who have argued all along that income has not decoupled from productivity. A wide range of economists, including Martin Feldstein, Stephen Rose, Edward Lazear, Joao Paulo Pessoa, John Van Reenen, Richard Anderson of the St. Louis Fed and a team from Goldman Sachs, have produced studies showing wages tracking very predictably with productivity. . . . The problem of the middle-class squeeze, in short, may not be with how the fruits of productivity are distributed, but the fact that there isn’t much productivity growth at all. It’s not that a rising tide doesn’t lift all boats; it’s that the tide is not rising fast enough. . . .


Related Links:
American Enterprise Institute - Around the web: Correcting the economic narrative, Greg Mankiw’s reading list, and more The economy isn’t broken after all

Wage growth and productivity growth: the myth and reality of 'decoupling'

Decoupling of Wage Growth and Productivity Growth? Myth and Reality

CEP Growth

John Van reenen webpage



News Posted: 15/09/2017      [Back to the Top]

Stanford News

Stanford scholars say big ideas are getting harder to find

Nicholas Bloom, a SIEPR senior fellow and co-author of a paper released this week by the National Bureau of Economic Research, contends that so many game-changing inventions have appeared since World War II that it’s become increasingly difficult to come up with the next big idea. “The thought now of somebody inventing something as revolutionary as the locomotive on their own is inconceivable,” Bloom said.


Related Links:
Stanford News - Stanford scholars say big ideas are getting harder to find

Are Ideas Getting Harder to Find?

CEP Growth

Nick Bloom webpage

John Van reenen webpage



News Posted: 14/09/2017      [Back to the Top]

IlSole24ore (Italy)

Smartphone a scuola, sì on no? Come funziona all’estero/Smartphone at school, yes or no? How it works abroad

Effects would seem to be beneficial: a report from the Center for Economic Performance of the London School of Economics, published in 2015, estimated 6.4% improvements following bans, a week more than "retrieved" lessons from carelessness generated by mobile phones.


Related Links:
IlSole24ore (Italy) - Smartphone a scuola, sì on no? Come funziona all’estero/Smartphone at school, yes or no? How it works abroad

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: 14/09/2017      [Back to the Top]

Financial Times – Alphaville

It’s not about the low hanging fruit, it’s about the ideas

…the “dearth of new ideas” thesis still resonates. A new paper from Stanford’s Nicholas Bloom, Charles Jones, Michael Web and MIT’s John Van Reenen examines this particular aspect of the innovation quandary. They ask more simply: Are ideas getting harder to find?


Related Links:
Financial Times – Alphaville - It’s not about the low hanging fruit, it’s about the ideas

Are Ideas Getting Harder to Find?

CEP Growth

Nick Bloom webpage

John Van reenen webpage



News Posted: 14/09/2017      [Back to the Top]

LSE Brexit blog

The Citizens’ Assembly on Brexit: reflections on the first weekend

The Citizens’ Assembly on Brexit has just completed its first weekend of deliberations. As an earlier post explained, the Assembly is a gathering of people from across the UK who have been randomly selected to reflect the make-up of the electorate. They are meeting over two weekends to learn about options for the form Brexit should take – focusing on the issues of trade and immigration – discuss what they make of these options, and draw conclusions. … Our expert speakers also delivered magnificently. Angus Armstrong, David Paton, Thomas Sampson, and Shanker Singham spoke on trade policy.


Related Links:
LSE Brexit blog - The Citizens’ Assembly on Brexit: reflections on the first weekend

CEP Trade

Thomas Sampson webpage



News Posted: 13/09/2017      [Back to the Top]

The Conversation

Fact Check: does immigration have an impact on wages or employment?

Review

Jonathan Wadsworth, professor of economics at Royal Holloway, University of London

According to standard economic textbooks, the purported effects of immigration on the existing workforce are undoubtedly negative – like the minimum wage. How so when the academic evidence – as accurately outlined in this fact check – does indeed suggest that, contrary to standard texts, immigration does not have any large significant effect on employment either in aggregate or among groups supposedly most at risk? Nor does immigration appear to depress wages of native-born Britons much. The recently resurrected study, cited by politicians and the media could not determine whether its findings of a small negative wage effect apply to UK-born people or immigrants or both. Politicians and the media making disingenuous, selective or, at best, misinformed interpretations of academic studies do not help. There is also a lot of dross out there and sifting through it is not always easy, for anyone, politicians and the media included. Ultimately, continued dialogue and engagement between academia and the outside world can only help understanding and inform policy making.

The Conversation is checking claims made by public figures and prominent commentators in public debates. Statements are checked by an academic with expertise in the area. A second academic expert then reviews an anonymous copy of the article.

 


Related Links:
The Conversation - Fact Check: does immigration have an impact on wages or employment?

CEP Labour Markets

Jonathan Wadsworth webpage



News Posted: 13/09/2017      [Back to the Top]

Blasting News (Italy)

Cellulari in classe? Arriva l’apertura della ministra Fedeli/Cell phones in class? The Minster of Faith opens

According to research by economists Louis-Philippe Beland and Richard Murphy published in 2015 on the British Center for Economic Performance at the London School of Economics in four English cities, combining school policies on smartphones and academic achievements of 130,000 pupils, concludes that in schools where mobile phones have been banned, the performance of 16-year-olds has risen by 6.4%.


Related Links:
Blasting News (Italy) - Cellulari in classe? Arriva l’apertura della ministra Fedeli/Cell phones in class? The Minster of Faith opens

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: 13/09/2017      [Back to the Top]

London Review of Books - Vol.39 No.18 September 2017

Swati Dhingra and Nikhil Datta: how not to do trade deals

Article by Nikhil Datta and Swati Dhingra: About half of Britain’s trade and investment is with the EU, and currently, as members, we implement almost the same standards for products and services. One of the few concrete things stated in the government’s white paper on Brexit was its intention to establish UK trading schedules – including import tariffs and quotas – at the World Trade Organisation, replicating ‘our existing trade regime as far as possible’. If no trade deals were struck with the EU after Brexit, the EU and UK would need to charge each other the tariffs they charge other WTO members. The average tariff rate is low – around 1.5 per cent – but some products attract higher tariffs. Cars, for example, incur a 10 per cent tariff, which the head of European manufacturing at Nissan stated would be a ‘disaster’ for the UK industry.


Related Links:
London Review of Books - Vol.39 No.18 September 2017 - Swati Dhingra and Nikhil Datta: how not to do trade deals

CEP Trade

Nikhil Datta webpage

Swati Dhingra webpage



News Posted: 13/09/2017      [Back to the Top]

Fudzilla

Humanity is running out of ideas

A team of top boffins is starting to worry that humans are running out of ideas and are citing the tech industry’s inability to come up with a solution for Moore's Law as a case study. Economic researchers from Stanford University and the Massachusetts Institute of Technology have just penned a bit of research with the catchy title “Are Ideas Getting Harder to Find?" Economics professors Nicholas Bloom, Charles Jones, and John Van Reenen, and PhD candidate Michael Webb say that across a broad range of case studies ideas – and in particular the exponential growth they imply - "are getting harder and harder to find".


Related Links:
Fudzilla - Humanity is running out of ideas

Are Ideas Getting Harder to Find?

CEP Growth

Nick Bloom webpage

John Van reenen webpage



News Posted: 13/09/2017      [Back to the Top]

LSE Business Review blog

The value of good management

To what extent does the quality of management matter for a business to be successful? ask Nicholas Bloom, Erik Brynjolfsson, Lucia Foster, Ron Jarmin, Megha Patnaik, Itay Saporta-Eksten and John Van Reenen

The public remains divided over the value of good management. But what do the data tell us? In our research, we’ve confirmed that management matters – a lot. In fact, it matters as much or more than a number of other factors associated with successful businesses, such as the adoption or generation of new technology.


Related Links:
LSE Business Review blog - The value of good management

In brief...The value of good management

What Drives Differences in Management?

CEP Growth

Nick Bloom webpage

John Van reenen webpage



News Posted: 13/09/2017      [Back to the Top]

Portfolio (Hungary)

Sok munka, sok adó: így élnek a londoni magyarok/There is a lot of work and a lot of taxes: so do the Hungarians living in London

Last year before the Brexit referendum, the Center for Economic Performance (CEP) produced a study on the economic impacts of Eastern European immigrants. The London School of Economics, a research institute from the results of labor market surveys, concluded that immigrants from the EU are typically younger, more skilled and more likely than the British born.


Related Links:
Portfolio (Hungary) - Sok munka, sok adó: így élnek a londoni magyarok/There is a lot of work and a lot of taxes: so do the Hungarians living in London

Immigration and the UK Economy

Why immigration is no reason to leave the EU

Brexit and the Impact of Immigration on the UK

CEP Labour Markets CEP Trade CEP Growth

Swati Dhingra webpage

Gianmarco Ottaviano webpage

John Van reenen webpage

Jonathan Wadsworth webpage



News Posted: 13/09/2017      [Back to the Top]

Financial Times

The great trade reset

Snippet: ...means goods will be subject to proof-of-origin checks as they cross borders. Research suggests this process adds extra cost on average to the underlying value of the goods, according to Nikhil Datta, a researcher at the London School of Economics' Centre for Economic Performance...


Related Links:
Financial Times - The great trade reset

CEP Trade

Nikhil Datta webpage

Swati Dhingra webpage



News Posted: 13/09/2017      [Back to the Top]

Amplo Creative – Business

Robots won’t take our jobs, but improve them

In the recent shift from outsourcing manufacturing, many pundits have argued that the addition of more robotic job automation the more manufacturing jobs would be lost. This correlation has recently been the scapegoat for the loss of these jobs regardless of the fact that there is no shortage of alternative explanations including globalization, offshoring, and skill gaps to name a few. However, if robots were a substitute for human workers than countries with higher investment rates in automation technology should have greater employment loss in their manufacturing industry, right? Not necessarily. In the report by Georg Graetz and Guy Michaels the researchers found “that the number of industrial robots per 1 million hours worked in Germany grew over 3 times,” [5] it’s own usage in 1993 and is still currently operating at 3 times the capacity of the U.S. due to the auto industry.


Related Links:
Amplo Creative – Business - Robots won’t take our jobs, but improve them

Robots at work: the impact on productivity and jobs

Robots at Work

CEP Labour Markets

Georg Graetz webpage

Guy Michaels webpage



News Posted: 12/09/2017      [Back to the Top]

Irish Times

Applying ancient solutions to modern problems

Indeed, a recent study by Richard Layard at the London School of Economics suggests that emotional wellbeing in childhood is more important to an adult’s satisfaction levels than academic success or wealth.


Related Links:
Irish Times - Applying ancient solutions to modern problems

The Key Determinants of Happiness and Misery

CEP Wellbeing

Richard Layard webpage



News Posted: 12/09/2017      [Back to the Top]

GetReading

See how MPs for Berkshire voted in the Brexit Repeal Bill

Earlier in the summer, research from think tank Centre for Cities and the Centre for Economic Performance at the London School of Economics revealed Reading is likely to be one of the areas hit hardest by Brexit.

Related publications

‘Brexit, Trade and the Economic Impacts on UK Cities’, Naomi Clayton and Henry Overman, Centre for Cities briefing, July 2017

http://www.centreforcities.org/wp-content/uploads/2017/07/17-07-26-Brexit-trade-and-the-economic-impacts-on-UK-cities.pdf


Related Links:
GetReading - See how MPs for Berkshire voted in the Brexit Repeal Bill

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 12/09/2017      [Back to the Top]

Evolve Politics

Academy Head blames parents for awful GCSE results and then introduces ridiculous new rules for kids

Great Yarmouth High isn’t the only school in the county stepping up its strictness in attempt to improve its reputation. Tim Gibbs, headteacher of Reepham High, hopes the school’s new ban on mobile phones will allow teachers to focus on learning. While it cannot be doubted that the use of mobile phones in classrooms can be distracting (and if you do have any doubt, a report by the Centre for Economic Performance proves it), there is also evidence to suggest that playing games on phones during breaktimes can improve pupils’ concentration and boost results in class. 


Related Links:
Evolve Politics - Academy Head blames parents for awful GCSE results and then introduces ridiculous new rules for kids

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: 11/09/2017      [Back to the Top]

The A Register

Boffins fear we might be running out of ideas

Research just isn’t as effective as it used to be

In a paper published Monday through the National Bureau of Economic Research, "Are Ideas Getting Harder to Find?", economics professors Nicholas Bloom, Charles Jones, and John Van Reenen, and PhD candidate Michael Webb, defy Betteridge's Law of Headlines by concluding that an idea drought has indeed taken hold. "Across a broad range of case studies ... we find that ideas – and in particular the exponential growth they imply – are getting harder and harder to find," the authors declare in their paper.


Related Links:
The A Register - Boffins fear we might be running out of ideas

Are Ideas Getting Harder to Find?

CEP Growth

Nick Bloom webpage

John Van reenen webpage



News Posted: 11/09/2017      [Back to the Top]

BBC World Service

(11:40:07 PM)

Snippet: ... for the first time compared to previous decades they would not receive anything so they are receiving somethings in relative terms to the top they're closing the relative gap but in absolute terms this is from research London School of Economics looking UK data the ...

Also on

BBC Radio 4


Related Links:
BBC World Service - (11:40:07 PM)

Home ownership and social mobility

Home Ownership and Social Mobility

CEP Labour Markets

Jo Blanden webpage

Stephen Machin webpage



News Posted: 10/09/2017      [Back to the Top]

Nelson Mail (New Zealand)

Golden Bay school challenging the norm over its wi-fi ban

A paper published by the London School of Economics in 2015 found banning mobile phones in schools resulted in a 6.41 per cent improvement overall in the school's' performance.


Related Links:
Nelson Mail (New Zealand) - Golden Bay school challenging the norm over its wi-fi ban

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: 10/09/2017      [Back to the Top]

LBC (Radio)

(1:00:01 pm)

Snippet: down and down and then the NHS within a matter of the housing crisis for napping and all that get blamed on immigrants. Mention of a study done at the London School of Economics looking at the relationship between migrants and wage depreciation which found there wasn’t a link…


Related Links:
LBC (Radio) - (1:00:01 pm)

Immigration and the UK Economy

CEP Labour Markets

Jonathan Wadsworth webpage



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

LSE News

What’s the secret to happiness?

In the September episode of the #LSEIQ podcast we ask, ‘What’s the secret to happiness?’. Western societies have been getting steadily richer for several decades, but social scientists have shown that we are no happier for it. In fact we now have more depression, more alcoholism and more crime. Why does happiness elude so many of us and what can we do about it? Helping to tackle the question are Paul Dolan, Professor of Behavioural Studies at LSE, Professor Lord Richard Layard of LSE’s Centre for Economic Performance, and Liz Zeidler, founder and chief executive of the Happy City Initiative.


Related Links:
LSE News - What’s the secret to happiness?

CEP Wellbeing

Richard Layard webpage



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

Business 2 Community

Automation: the future of your business?

In the academic paper ‘Robots at Work’, Georg Graetz of Uppsala University and the LSE’s Guy Michaels discovered that, between 1993 and 2007, automated systems encouraged the average GDP of countries to leap by 0.37%. That was ten years ago, when automation was still an unknown quantity. Today, that figure is likely to be higher.


Related Links:
Business 2 Community - Automation: the future of your business?

Robots at work: the impact on productivity and jobs

Robots at Work

CEP Labour Markets

Georg Graetz webpage

Guy Michaels webpage



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

The Orange County Register

Taxing robots will hurt California innovation and opportunity

Economists Georg Graetz of Uppsala University and Guy Michaels of the London School of Economics produced a 2015 study which found that between 1993 and 2007, Michaels said, there was “a negative effect of robots on low-skilled workers’ employment,” yet there was “no significant effect on overall employment.” In other words, the low-skilled workers at best moved into better jobs and at worst stayed in similar jobs. “Their study,” writes Bailey, “also found that the increases in the number of robots boosted annual economic growth by 0.37 percent.”


Related Links:
The Orange County Register - Taxing robots will hurt California innovation and opportunity

Robots at work: the impact on productivity and jobs

Robots at Work

CEP Labour Markets

Georg Graetz webpage

Guy Michaels webpage



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

Financiero online (Spain)

Así impulsará Francia su economía/This will boost France’s economy

Recent research published by the London School of Economics also found that teaching phonics led to greater improvements in reading among disadvantaged children compared with students taught using other systems.


Related Links:
Financiero online (Spain) - Así impulsará Francia su economía/This will boost France’s economy

CEP Growth

Philippe Aghion webpage



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

The Telegraph

Headteachers who resist teaching phonics are failing students, minister warns

Recent research published by the London School of Economics also found that teaching phonics led to greater improvements in reading among disadvantaged children compared with students taught using other systems.


Related Links:
The Telegraph - Headteachers who resist teaching phonics are failing students, minister warns

in brief... Children's reading: evaluating a new teaching method

"Teaching to Teach" Literacy

CEP Education and Skills

Stephen Machin webpage

Sandra Mcnally webpage



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

Spectator

Off days

Snippet: .Is using a smart phone at school really that bad? Schools with an embargo on mobiles saw the test scores of 16-year-olds improve by 6.4 per cent on average, while the results of lower-achieving students improved by 12,2 per cent, a study by the London School of Economics found in 2015.


Related Links:
Spectator - Off days

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: 09/09/2017      [Back to the Top]

Social Europe

How Bad Will Brexit Really Be For The UK?

The great majority of the economic forecasts have concluded that Brexit will damage the UK economy. In the case of ‘no deal’ between the UK and the EU, the majority view is that the loss of GDP could be severe. The UK Treasury, the OECD and the London School of Economics’ Centre for Economic Policy (CEP) all agreed, in reports published during the referendum campaign, that with no deal the loss of GDP by 2030 would be in the range of 7-10%. A free-trade agreement (FTA) would be little better.


Related Links:
Social Europe - How Bad Will Brexit Really Be For The UK?

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

CEP Growth CEP Trade

Swati Dhingra webpage

Gianmarco Ottaviano webpage

Thomas Sampson webpage

John Van reenen webpage



News Posted: 08/09/2017      [Back to the Top]

EUnited – Robotics: European Robotics Association

German robots – the impact of industrial robots on workers

The third reason to focus on Germany is a practical one. Detailed German labor market data are merged with the same data on industrial robots, that is also used by Acemoglu and Restrepo (Robots and Jobs: Evidence from US Labor Markets, 2017) and in the pioneering study by Graetz and Michaels (Robots at Work, 2015) who exploit industry-level variation across countries.


Related Links:
EUnited – Robotics: European Robotics Association - German robots – the impact of industrial robots on workers

Robots at work: the impact on productivity and jobs

Robots at Work

CEP Labour Markets

Georg Graetz webpage

Guy Michaels webpage



News Posted: 07/09/2017      [Back to the Top]

Newsreview.com

Are robots going to steal our jobs?

In 2015, economists Georg Graetz of Uppsala University and Guy Michaels of the London School of Economics analyzed the effects of industrial robots on employment in 17 different countries between 1993 and 2007. In contrast to the Acemoglu and Restrepo study, “We find a negative effect of robots on low-skilled workers’ employment,” Michaels said in an interview, “but no significant effect on overall employment.” Their study also found that the increases in the number of robots boosted annual economic growth by 0.37 percent.


Related Links:
Newsreview.com - Are robots going to steal our jobs?

Robots at work: the impact on productivity and jobs

Robots at Work

CEP Labour Markets

Georg Graetz webpage

Guy Michaels webpage



News Posted: 07/09/2017      [Back to the Top]

CEP Journal Articles

‘Service Trade and Occupational Tasks: An Empirical Investigation’, Andrea Ariu and Giordano Mion, The World Economy, Volume 40, Issue 9, September 2017

10.1111/twec.12440  


Related Links:
CEP Journal Articles - ‘Service Trade and Occupational Tasks: An Empirical Investigation’, Andrea Ariu and Giordano Mion, The World Economy, Volume 40, Issue 9, September 2017

Service Trade and Occupational Tasks: An Empirical Investigation

CEP Trade

Giordano Mion webpage



News Posted: 07/09/2017      [Back to the Top]

What Works Centre for Local Economic Growth blog

The local economic impacts of Brexit

I've been working with colleagues at the Centre for Economic Performance (Swati Dhingra and Steve Machin) and the Centre for Cities (Naomi Clayton) to take a first look at the local economic impacts of Brexit. You can read the more technical CEP piece here and the less technical Centre for Cities piece here. The research looks at the difference in predicted effects across all Local Authority Areas and across Primary Urban Areas under a 'soft' and a 'hard' Brexit scenario (the former involves zero tariffs, but increased non-tariff barriers with the EU, the latter involves non-zero tariffs and even higher non-tariff barriers). It also provides some initial analysis on whether these predicted impacts are likely to exacerbate or alleviate existing disparities and looks at how the predicted economic impacts of Brexit correlate with voting patterns from the referendum.

Related publications

‘Brexit, Trade and the Economic Impacts on UK Cities’, Naomi Clayton and Henry Overman, Centre for Cities briefing, July 2017

http://www.centreforcities.org/wp-content/uploads/2017/07/17-07-26-Brexit-trade-and-the-economic-impacts-on-UK-cities.pdf

 


Related Links:
What Works Centre for Local Economic Growth blog - The local economic impacts of Brexit

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 07/09/2017      [Back to the Top]

News Review

Are robots going to steal our jobs?

In 2015, economists Georg Graetz of Uppsala University and Guy Michaels of the London School of Economics analyzed the effects of industrial robots on employment in 17 different countries between 1993 and 2007. In contrast to the Acemoglu and Restrepo study, “We find a negative effect of robots on low-skilled workers’ employment,” Michaels said in an interview, “but no significant effect on overall employment.” Their study also found that the increases in the number of robots boosted annual economic growth by 0.37 percent.


Related Links:
News Review - Are robots going to steal our jobs?

Robots at work: the impact on productivity and jobs

Robots at Work

CEP Labour Markets

Georg Graetz webpage

Guy Michaels webpage



News Posted: 07/09/2017      [Back to the Top]

Oxford Times

Brexit has had 'little affect' on Oxford's finances, report finds

A report by the London School of Economics' Centre for Economic Performance had suggested Brexit would leave all British cities adversely affected.

Related publications

‘Brexit, Trade and the Economic Impacts on UK Cities’, Naomi Clayton and Henry Overman, Centre for Cities briefing, July 2017

http://www.centreforcities.org/wp-content/uploads/2017/07/17-07-26-Brexit-trade-and-the-economic-impacts-on-UK-cities.pdf


Related Links:
Oxford Times - Brexit has had 'little affect' on Oxford's finances, report finds

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 06/09/2017      [Back to the Top]

Smart Company.com.au (Australia)

Working from home may have a bad rep, but is this really justified?

As outlined at TED, research conducted by Stanford University economics professor Nicholas Bloom shows companies could not only benefit from a reduction in costs associated with office space, but also see improved productivity from employees who work from home. Bloom notes in his TEDx talk, ‘Go ahead, tell your boss you are working from home’, that while suspicion may reign about what employees get up to while on the clock at home, his research shows the reality is divorced from popular conceptions.


Related Links:
Smart Company.com.au (Australia) - Working from home may have a bad rep, but is this really justified?

Does Working from Home Work? Evidence from a Chinese Experiment

CEP Growth

Nick Bloom webpage



News Posted: 05/09/2017      [Back to the Top]

Mail online

How one in 79 Britons is now a MILLIONAIRE: Surging house prices increase number by 142,500 in just seven years

Paul Cheshire, professor of economic geography and the London School of Economics, said: ‘The term “millionaire” has long been reserved for those considered to have extreme wealth. A distant aspiration that was unattainable for the vast majority of the UK. As house prices continue to climb, the million pound marker becomes less of a pipe dream for many of those nearing the top of the ladder.’


Related Links:
Mail online - How one in 79 Britons is now a MILLIONAIRE: Surging house prices increase number by 142,500 in just seven years

CEP Urban and Spatial Programme

Paul Cheshire webpage



News Posted: 05/09/2017      [Back to the Top]

LSEIQ podcast

Epsiode 6 | What’s the secret to happiness?

In this episode, Joanna Bale investigates human happiness: why it eludes so many of us and what we can do about it. She talks to LSE’s Paul Dolan and Richard Layard, and Liz Zeidler of the Happy City Initiative.

Related publications

World Happiness report (2017), John Helliwell, Richard Layard & Jeffrey Sachs.

http://worldhappiness.report/


Related Links:
LSEIQ podcast - Epsiode 6 | What’s the secret to happiness?

CEP Wellbeing

Paul Dolan webpage

Richard Layard webpage



News Posted: 05/09/2017      [Back to the Top]

NZHerald

How one in 79 Britons over the age of 21 are millionaires

Paul Cheshire, professor of economic geography and the London School of Economics, said: "The term "millionaire" has long been reserved for those considered to have extreme wealth. A distant aspiration that was unattainable for the vast majority of the UK. As house prices continue to climb, the million pound marker becomes less of a pipe dream for many of those nearing the top of the ladder."


Related Links:
NZHerald - How one in 79 Britons over the age of 21 are millionaires

CEP Urban and Spatial Programme

Paul Cheshire webpage



News Posted: 05/09/2017      [Back to the Top]

LSE Public Affairs News

Student Immigration Figures

The government has commissioned independent advisers on migration (the Migration Advisory Committee) to complete a detailed assessment of the social and economic impact of international students in the UK. The announcement was part of a series of publications that came out at the end of August which will feed into an evidence base on the impact of international students.

The study will: 

- Examine the impact of tuition fees and other spending by foreign students on the national, regional and local economies.

- Consider the impact of their recruitment on the quality of education given to domestic students.

The Committee is expected to report back their findings in September next year and is chaired by Alan Manning, Professor of Economics at LSE. The MAC will shortly produce a call for evidence setting out how stakeholders can be involved in contributing to the assessment.  

As part of this series, the ONS has published an article ‘What’s happening with international student migration’ which provides recent research since April 2017 on developing an understanding on student migration.


Related Links:
CEP Community

Alan Manning webpage



News Posted: 04/09/2017      [Back to the Top]

Conatus News

Post-Brexit Industrial Strategy – Dawn of a New Era for Britain?

The Centre for Economic Performance at London School of Economics has predicted a soft brexit is likely to increase the cost of EU trade by 2%, causing a subsequent 1% fall in British GDP, while a hard Brexit will see costs of trade increase by 8%, and a 2% fall in GDP…

Related publications

‘Brexit, Trade and the Economic Impacts on UK Cities’, Naomi Clayton and Henry Overman, Centre for Cities briefing, July 2017

http://www.centreforcities.org/wp-content/uploads/2017/07/17-07-26-Brexit-trade-and-the-economic-impacts-on-UK-cities.pdf


Related Links:
Conatus News - Post-Brexit Industrial Strategy – Dawn of a New Era for Britain?

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 03/09/2017      [Back to the Top]

Marginal Revolution

French cities are Roman sites rather than by the sea

Snippet…Here is the amazing fact: today, 16 of France’s 20 largest cities are located on or near a Roman town, while only 2 of Britain’s 20 largest are. This difference existed even back in the Middle Ages. So who cares? Well, Britain’s cities in the middle ages are two and a half times more likely to have coastal access than France’s cities, so that in 1700, when sea trade was hugely important, 56% of urban French lived in towns with sea access while 87% of urban Brits did…

That is from A Fine Theorem, discussing a recent paper by Guy Michaels and Ferdinand Rauch.

Also in

Politics in theory and practice 

“Resetting the Urban Network,” G. Michaels & F. Rauch (2017)

Snippet…Cities have two important properties: they are enormously consequential for people’s economic prosperity, and they are very sticky…..

https://politicstheorypractice.wordpress.com/2017/09/03/resetting-the-urban-network-g-michaels-f-rauch-2017/

 

Bullfax 

French cities are Roman sites rather than by the sea

Even at a very local level, the France/Britain distinction holds: when Roman cities were within 25km of the ocean or a navigable river, they tended not to move in France, while in Britain they tended to reappear nearer to the water. The fundamental factor for the shift in both places was that developments in shipbuilding in the early middle ages made the sea much more suitable for trade and military transport than the famous Roman Roads which previously played that role.

These days, the French model is looking somewhat better, as Toulouse has held its ground more readily than has Liverpool.

That is from A Fine Theorem, discussing a recent paper by Guy Michaels and Ferdinand Rauch.

http://www.bullfax.com/?q=node-french-cities-are-roman-sites-rather-sea


Related Links:
Marginal Revolution - French cities are Roman sites rather than by the sea

Resetting the Urban Network: 117-2012

CEP Labour Markets CEP Trade

Guy Michaels webpage

Ferdinand Rauch webpage



News Posted: 03/09/2017      [Back to the Top]

Financial Times

Low skills and poor infrastructure blamed for UK productivity gap

Higher skill levels among London’s workforce explains about two-thirds of the productivity gap between the capital and the rest of the country, according to Henry Overman, director of the What Works Centre for Local Economic Growth, a research centre based at the London School of Economics.


Related Links:
Financial Times - Low skills and poor infrastructure blamed for UK productivity gap

CEP Urban and Spatial Programme

Henry Overman webpage



News Posted: 03/09/2017      [Back to the Top]

The Economist

Blame Congress for high health-care costs

So Zack Cooper of Yale University and three other researchers argue in a paper to be published on September 4th. They studied reforms passed in 2003 that allowed over-65s to obtain prescription drugs through Medicare for the first time—the biggest expansion in the scheme’s history, costing some $400bn over the next decade….


Related Links:
The Economist - Blame Congress for high health-care costs

CEP Growth

Zack Cooper webpage



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

Mirror

Single market, clean break or customs union - which Brexit side do you support and how much will it cost you?

Snippet…The Centre for Economic performance says trade would drop 40 per cent over 10 years and incomes would fall 2.6 per cent.

Related links

CEP BREXIT Analysis series http://cep.lse.ac.uk/BREXIT/press1.asp?index=4991


Related Links:
Mirror - Single market, clean break or customs union - which Brexit side do you support and how much will it cost you?





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

Le Figaro

Philippe Aghion: «Réformer l'État est la clé de la réussite du quinquennat» / "Reforming the State is the key to the success of the Five-Year Plan"

Can Emmanuel Macron succeed in "transforming" the country he promised? Philippe Aghion, one of the great names in French economic research, hopes and wants to believe in it.


Related Links:
Le Figaro - Philippe Aghion: «Réformer l'État est la clé de la réussite du quinquennat» / "Reforming the State is the key to the success of the Five-Year Plan"

CEP Growth

Philippe Aghion webpage



News Posted: 01/09/2017      [Back to the Top]

Project Syndicate

The Two Pillars of French Economic Reform

Article by Philippe Aghion and Benedicte Berner

The French government has just announced the guidelines for a new labor code, its first major reform to boost France’s economy, by giving more flexibility to companies to adapt to the marketplace. The second major reform sought by President Emmanuel Macron’s cabinet – an overhaul of the French state – is set to follow.

Also in

MENAFN

Two pillars of French economic reform

http://www.menafn.com/1095808308/Two-pillars-of-French-economic-reform

 

Jornal De Brasil

'Project Syndicate': Os dois pilares da reforma econômica francesa / The two pillars of French economic reform

http://www.jb.com.br/economia/noticias/2017/09/04/project-syndicate-os-dois-pilares-da-reforma-economica-francesa/


Related Links:
Project Syndicate - The Two Pillars of French Economic Reform

CEP Growth

Philippe Aghion webpage



News Posted: 01/09/2017      [Back to the Top]

Marginal Revolution

Flooded Cities

Snippet…Does economic activity relocate away from areas that are at high risk of recurring shocks? We examine this question in the context of floods, which are among the costliest and most common natural disasters.


Related Links:
Marginal Revolution - Flooded Cities

Flooded Cities

Resetting the Urban Network: 117-2012

CEP Labour Markets CEP Trade

Guy Michaels webpage

Ferdinand Rauch webpage



News Posted: 01/09/2017      [Back to the Top]

Canadian Investment Opportunities & News

B.C.'s new business as usual: political and economic uncertainty

Research shows that policy uncertainty can drive down business investment by six to 10.5 per cent. To see how the election created uncertainty in B.C., the Fraser Institute created a proxy measure using newspaper reporting of the word “uncertain” in the province from 2009 to the present. The study was inspired by work on American economic policy uncertainty developed by economists Scott Baker, Nick Bloom and Steven Davis.


Related Links:
Canadian Investment Opportunities & News - B.C.'s new business as usual: political and economic uncertainty

Measuring Economic Policy Uncertainty

CEP Growth

Nick Bloom webpage



News Posted: 31/08/2017      [Back to the Top]

Financial Mail

Mental health problems cost SA’s economy billions per year

In a 2016 study of eight countries spanning diverse cultures and gross domestic product (GDP) ranges, Dr Sara Evans-Lacko and Prof Martin Knapp from the London School of Economics and Political Science reported that depression was collectively costing the nations of Brazil, Canada, China, Japan, South Korea, Mexico, South Africa and the US more than $246-billion a year.


Related Links:
Financial Mail - Mental health problems cost SA’s economy billions per year

CEP Wellbeing

Sara Evans-lacko webpage

Martin Knapp webpage



News Posted: 31/08/2017      [Back to the Top]

Education Week

Can Banning Phones in School Curb Cyberbullying?

There's some evidence that banning phones correlates with better academic outcomes: A 2015 study released by the Center for Economic Performance at the London School for Economics and Public Policy found that middle school test scores rose in schools that prohibited phone use in class.


Related Links:
Education Week - Can Banning Phones in School Curb Cyberbullying?

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: 31/08/2017      [Back to the Top]

Guardian

Do new roads boost the economy? The science is still finding its way

Steve Gibbons, a member of a London School of Economics team that has produced a series of reports on the subject, says any claims that infrastructure investment is a cost-effective way of generating growth should be treated with caution. “What all these things are doing is working out time savings-based benefits; the monetary amount attached to the time a person saves; a certain amount per hour – it’s not directly looking at the impacts on GDP,” Dr Gibbons says.

Related publications

‘New Road Infrastructure: the Effects on Firms’, Stephen Gibbons, Teemu Lyytikäinen, Henry Overman and Rosa Sanchis-Guarner, SERC Discussion Paper No.117, September 2012

http://www.spatialeconomics.ac.uk/textonly/serc/publications/download/sercdp0117.pdf


Related Links:
Guardian - Do new roads boost the economy? The science is still finding its way

CEP Urban and Spatial Programme

Steve Gibbons webpage

Henry Overman webpage

Rosa Sanchis-guarner webpage



News Posted: 30/08/2017      [Back to the Top]

Gulf News

A unique experiment to treat mental illness

In 2005 David Clark, a professor of psychology at Oxford University, and economist Richard Layard, a member of the House of Lords, concluded that providing therapy to people like Oliver made economic sense.


Related Links:
Gulf News - A unique experiment to treat mental illness

Cost-Benefit Analysis of Psychological Therapy

CEP Wellbeing

Richard Layard webpage

Martin Knapp webpage



News Posted: 30/08/2017      [Back to the Top]

A Fine Theorem

Resetting the Urban Network, G. Michaels & F. Rauch (2017)

..With incredible timing, Michaels and Rauch, alongside two other coauthors, have another working paper called Flooded Cities. Essentially, looking across the globe, there are frequent very damaging floods, occurring every 20 years or so in low-lying areas of cities…


Related Links:
A Fine Theorem - Resetting the Urban Network, G. Michaels & F. Rauch (2017)

CEP Labour Markets CEP Trade

Guy Michaels webpage

Ferdinand Rauch webpage



News Posted: 30/08/2017      [Back to the Top]

Novara Media

Tory Promises to Improve Mental Healthcare Ignore the Reality of Living With Mental Illness

There is a wealth of evidence to suggest that proactive rather than reactive mental healthcare and treatment is in the interest of the NHS as well as individuals. A report by The Centre for Economic Performance shows that providing better treatments for mental illness could cut NHS expenditure on physical illnesses. A third of the patients treated for physical illnesses suffer from concurrent mental health problems, which raise the costs of physical healthcare by at least 45%. The report provides evidence of a significant saving resulting from the treatment of pulmonary disease, angina, and arthritis in conjunction with psychological therapy, that offset the money invested. But the government have so far failed to put research into practice.

 


Related Links:
Novara Media - Tory Promises to Improve Mental Healthcare Ignore the Reality of Living With Mental Illness

How Mental Illness Loses Out in the NHS A report by The Centre for Economic Performance's Mental Health Policy Group

CEP Wellbeing

Richard Layard webpage



News Posted: 30/08/2017      [Back to the Top]

Finfacts

Hectare of agricultural land costs €24,000 in Ireland, €6,000 in France

Over the last full economic cycle, from 1993 to 2008, the cost of a hectare of residential land in London rose by over 300% in real terms, to more than £8m ($15m) and enough green-belt land is available in Greater London to build 1.6m houses at average densities, according to Paul Cheshire of the London School of Economics (LSE) — about 30 times the number of new houses London needs a year. "But opposition from homeowners is strong — especially from those near the green belt, who do not much like the thought of newcomers bringing down property prices. Today, though approved applications to build on it have risen a bit, the green belt is virtually as big as it was in 2007. Many argue that developing brownfield land (land previously used for some industrial purpose) would solve London’s problems.

 


Related Links:
Finfacts - Hectare of agricultural land costs €24,000 in Ireland, €6,000 in France

CEP Urban and Spatial Programme

Paul Cheshire webpage



News Posted: 27/08/2017      [Back to the Top]

EamonnMallie.com

A new Ireland presents better opportunities for all – A personal perspective – by Gerry Carlile

.Even before the EU referendum multiple reports carried out by credible and reputable organisations like PWC and Oxford Economics in relation to the effect of Brexit on the UK by the year 2030, concluded that it would result in a negative impact on the Gross Domestic Product of the entire UK.

One of the reports produced by the Centre for Economic Performance suggested the decrease in GDP could be as much as 7.9%. Another report by Her Majesty’s Treasury, the government itself, predicted as much as a 7.5% decrease and the National Institute of Economic and Social Research claimed it could negatively impact on GDP by as much as 7.8%.

Related links

CEP BREXIT Analysis series http://cep.lse.ac.uk/BREXIT/press1.asp?index=4991


Related Links:
EamonnMallie.com - A new Ireland presents better opportunities for all – A personal perspective – by Gerry Carlile





News Posted: 25/08/2017      [Back to the Top]

ilsole24ore

I nuovi confini dei Governatori / The new borders of the Governors

Article by Gianmarco Ottaviano

Snippet..”Even this year, central bankers find themselves in Jackson Hole, one of the world's off-piste ski shrines. And, in fact, being in a historical moment outside the usual beaten paths is a widespread feeling. However, it is not the feeling Janet Yellen and Mario Draghi want to convey.”…


Related Links:
ilsole24ore - I nuovi confini dei Governatori / The new borders of the Governors

CEP Trade

Gianmarco Ottaviano webpage



News Posted: 25/08/2017      [Back to the Top]

New York Times

European Central Bank Chief Says Monetary Policy Must Stay ‘Very Patient’

Snippet...”Mostly, the economists gathered here expressed hope that people would embrace the broader benefits of trade rather than focusing on the narrow costs.

“All I can hope is that we are having a pause in the progress toward peaceful economic integration,” rather than a permanent decline, said John Van Reenen, an economics professor at M.I.T.

 


Related Links:
New York Times - European Central Bank Chief Says Monetary Policy Must Stay ‘Very Patient’

CEP Growth

John Van reenen webpage



News Posted: 25/08/2017      [Back to the Top]

Helensburgh Advertiser

Parents back idea of mobile phone classroom ban

The Conservatives have called for a national ban following a 2015 study by the London School of Economics which found that schools which banned mobile phones saw an increase in test scores – with improvements particularly among lower achievers.


Related Links:
Helensburgh Advertiser - Parents back idea of mobile phone classroom ban

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: 25/08/2017      [Back to the Top]

Guardian

The Guardian view on the new GCSEs: missing the point

Editorial

The reforms are good ones, but the reformers have their priorities wrong. For too long ministers have focused on the country’s highest-achieving pupils. They should now pay attention to everyone else. Only about a third of 18-year-olds go to university; for the rest the road from education to work is uncertain and full of potholes.

Related publications

‘Post-Compulsory Education in England: Choices and Implications’, Claudia Hupkau, Sandra McNally, Jenifer Ruiz-Valenzuela and Guglielmo Ventura, National Institute Economic Review, 240(1), May 2017. DOI: 10.1177/002795011724000113

http://journals.sagepub.com/doi/pdf/10.1177/002795011724000113


Related Links:
Guardian - The Guardian view on the new GCSEs: missing the point

Post-16 educational choices in England

Post-16 educational choices in England

CEP CVER CEP Education and Skills

Claudia Hupkau webpage

Sandra Mcnally webpage

Jenifer Ruiz-valenzuela webpage

Guglielmo Ventura webpage



News Posted: 24/08/2017      [Back to the Top]

The Gazette

Councils refuse to answer calls to ban mobile phones in primary schools

Academics at the London School of Economics found schools which restrict access to mobile phones “subsequently experience an improvement in test scores”. They also found banning phones “improves outcomes for the low-achieving students the most”.


Related Links:
The Gazette - Councils refuse to answer calls to ban mobile phones in primary 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: 24/08/2017      [Back to the Top]

Dumbarton and Vale of Leven Reporter

Schools impose ban on taking mobile phones into the classroom

But the Scottish Government seem intent on leaving the question of mobile phones in the classrooms up to head teachers. A spokesman said: “Head teachers can already ban phones in school if they wish to, however phones are now being used effectively in classrooms to aid learning. “We encourage local authorities and schools to think carefully about how to incorporate smart and mobile phones into learning and teaching.” The calls for a ban follows in the wake of research carried out by academics at the London School of Economics which explored the impact of banning mobile phones in schools. The authors concluded schools that restricted access to mobile phones “subsequently experience an improvement in test scores.”


Related Links:
Dumbarton and Vale of Leven Reporter - Schools impose ban on taking mobile phones into the classroom

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

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

CEP Education and Skills

Richard Murphy webpage



News Posted: 24/08/2017      [Back to the Top]

Politics.co.uk

Why is the government so afraid to publish its Brexit impact studies?

There has been a veritable flood of studies indicating what an economic disaster awaits us if the government pursue its preferred hard Brexit route. If the government's own studies contain anything to counter this overwhelmingly pessimistic outlook, why have they not been released? We can only conclude that either the government is running scared of its own extreme form of leaving the EU, or it wants to keep a lid on the dire consequences of it. It's probably safe to assume therefore that the government's own analysis agrees with a recent Local Business Survey. It showed that of 419 small and medium sized enterprises surveyed in the South West of England, 57% of exporters believed the impact of leaving the single market will be 'negative' or 'very negative'. This compared with just ten per cent who think the impact will be 'positive' or 'very positive'. Or a recent study from the Centre for Economic Performance that examined the negative impacts of trade barriers. It predicts that under either a soft or hard Brexit scenario, leaving the EU will have a devastating impact on the economic performance of our towns and cities.

Related publications

‘Brexit, Trade and the Economic Impacts on UK Cities’, Naomi Clayton and Henry Overman, Centre for Cities briefing, July 2017

http://www.centreforcities.org/wp-content/uploads/2017/07/17-07-26-Brexit-trade-and-the-economic-impacts-on-UK-cities.pdf

 


Related Links:
Politics.co.uk - Why is the government so afraid to publish its Brexit impact studies?

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 24/08/2017      [Back to the Top]

Economist

Most economists say Brexit will hurt the economy – but one disagrees

Patick Minford thinks that GDP could increase by 6.8%

Mr Minford’s calculations are based on dubious assumptions. He also ignores the “gravity” effect, whereby close neighbours trade more with each other. He reckons any fall in trade with the EU will automatically be made up elsewhere. He attributes all the rise in Britain’s trade with the EU since it joined in 1973 to trade diversion, not trade creation, ignoring evidence to the contrary. And he says all price differences are caused by protection, whereas most reflect differing quality or regulatory standards. Swati Dhingra and her colleagues at the London School of Economics have used their Brexit model to recalculate the gains of unilateral free trade. It reduces the loss from a hard Brexit, but only slightly, from 2.6% of GDP to 2.3%.


Related Links:
Economist - Most economists say Brexit will hurt the economy – but one disagrees

‘ECONOMISTS FOR BREXIT’: A critique

CEP Trade CEP Growth

Swati Dhingra webpage

Gianmarco Ottaviano webpage

Thomas Sampson webpage

John Van reenen webpage



News Posted: 24/08/2017      [Back to the Top]

The Edinburg Review

Higher minimum wages will give high tech a boost

But unlike many researchers, who maintain a laser-like focus on the question of whether minimum wage cuts jobs in the short term, Neumark has examined the policy from many angles. A recent paper of his, along with Grace Lordan of the London School of Economics, looks at how automation responds to minimum-wage increases. This is a timely research paper, because many people are worried about automation making human workers obsolete. It’s pretty obvious that higher minimum wages give employers an incentive to replace humans with machines. For example, fast-food servers can be partially replaced with automated kiosks. Japan already has plenty of these, and they work very well — you order your food from a menu, get a ticket and pick it up at a counter.

Related publications

People Versus Machines: The Impact of Minimum Wages on Automatable Jobs

Published August 2017

Available on the NBER website


Related Links:
The Edinburg Review - Higher minimum wages will give high tech a boost

CEP Wellbeing

Grace Lordan webpage



News Posted: 23/08/2017      [Back to the Top]

Country Living

Matter-of-fact chart shows why we shouldn't worry about growing old

A timeline, created by Business Insider, reveals the areas we excel in at specific ages of our life, including skills, achievements and wellbeing. The chart shows that there is a lot of contentment in later life, with the age of 69 being a time when we feel most life satisfaction, and at 82 most psychological wellbeing. The age of 74 is best for feeling happy about your body.


Related Links:
Country Living - Matter-of-fact chart shows why we shouldn't worry about growing old

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

CEP Wellbeing

Hannes Schwandt webpage



News Posted: 23/08/2017      [Back to the Top]

Aprendemas.com (Spain)

En busca de la felicidad: cursos gratuitos y claves para ser feliz /In search of happiness: free courses and keys to be happy

However, a recent study carried out at the London School of Economics shows that levels of happiness in a person's life follow a U-shaped pattern. This means that between the ages of 20 and 70, The maximum peaks of happiness in the life of any person would correspond with the 23 and the 69 years of age, concretely. Business Insider collated the data mainly based on scientific studies, including from the London School of Economics and MIT, and informal surveys - though the chart cannot conclusively represent the population as a whole.


Related Links:
Aprendemas.com (Spain) - En busca de la felicidad: cursos gratuitos y claves para ser feliz /In search of happiness: free courses and keys to be happy

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

CEP Wellbeing

Hannes Schwandt webpage



News Posted: 23/08/2017      [Back to the Top]

Harvard Business Review

Why do we undervalue competent management?

By Raffaella Sadun, Nicholas Bloom and John Van Reenen

In MBA programs, students are taught that companies can’t expect to compete on the basis of internal managerial competencies because they’re just too easy to copy. Operational effectiveness—doing the same thing as other companies but doing it exceptionally well—is not a path to sustainable advantage in the competitive universe. To stay ahead, the thinking goes, a company must stake out a distinctive strategic position—doing something different than its rivals. This is what the C-suite should focus on, leaving middle and lower-level managers to handle the nuts and bolts of managing the organization and executing plans.

Related publication

Harvard Business Review, September-October 2017 issue

https://hbr.org/archive-toc/BR1705


Related Links:
Harvard Business Review - Why do we undervalue competent management?

CEP Growth

Nick Bloom webpage

Raffaella Sadun webpage

John Van reenen webpage



News Posted: 23/08/2017      [Back to the Top]

US News

Study: Happiness is a U and Middle Age is Depressing

A new study suggests midlife "psychological low" points are a global phenomenon

Why people consistently report being near their most unhappy around the same age – across countries, incomes and demographics – has generated much debate. Hannes Schwandt, an assistant professor of economics at the University of Zurich, theorized back in 2013 that "the U-shape is caused by unmet expectations that are felt painfully in midlife."


Related Links:
US News - Study: Happiness is a U and Middle Age is Depressing

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

CEP Wellbeing

Hannes Schwandt webpage



News Posted: 22/08/2017      [Back to the Top]

Yahoo! Style

Leading economists say £135bn hard Brexit boost claim ‘defies gravity’

A leading quartet of economists have taken issue with a report by pro-Brexit counterparts that paints a rosy picture for Britain should the country leave the EU without any trade deals in place. The four professors at the London School of Economics say the vision outlined by their peers, led by Prof Patrick Minford at Cardiff University, simply does not add up.


Related Links:
Yahoo! Style - Leading economists say £135bn hard Brexit boost claim ‘defies gravity’

‘ECONOMISTS FOR BREXIT’: A critique

CEP Trade CEP Growth

Swati Dhingra webpage

Gianmarco Ottaviano webpage

Thomas Sampson webpage

John Van reenen webpage



News Posted: 22/08/2017      [Back to the Top]

City A.M.

DEBATE: Is the Economists for Free Trade £135bn figure realistic?

“NO – Thomas Sampson, assistant professor of economics at the London School of Economics.

Economists for Free Trade’s estimate is misleading nonsense. It is based on an economic model that bears no relation to the facts of the global economy and, consequently, is contradicted by the data on international trade. Most importantly, the Economists for Free Trade fail to take into account that trade costs are higher when the UK trades with more distant countries and that consumers care about where goods are made …”


Related Links:
City A.M. - DEBATE: Is the Economists for Free Trade £135bn figure realistic?

CEP Trade

Thomas Sampson webpage



News Posted: 22/08/2017      [Back to the Top]

CEP on Twitter

Deputy Leader of SNP group in Westminster and SNP Economy spokesman Kirsty Blackman MSP retweeted LSE: RT @KirstySNP:

Here's a piece from LSE debunking Prof Minford's post-Brexit trade theories and a quote from him about industry – see http://blogs.lse.ac.uk/politicsandpolicy/the-britain-alone-scenario-how-economists-for-brexit-defy-the-laws-of-gravity/.


Related Links:
CEP on Twitter - Deputy Leader of SNP group in Westminster and SNP Economy spokesman Kirsty Blackman MSP retweeted LSE: RT @KirstySNP:

‘ECONOMISTS FOR BREXIT’: A critique

CEP Trade CEP Growth

Swati Dhingra webpage

Gianmarco Ottaviano webpage

Thomas Sampson webpage

John Van reenen webpage



News Posted: 21/08/2017      [Back to the Top]

fDi Magazine

The Brexit toll on FDI: The evidence so far 22:42

Foreign investment has dropped sharply since the June 2016's referendum as investors are holding off investments waiting for more clarity on the future of the country outside the EU. LSE’s lecturer Dr Swati Dhingra and fDi Magazine’s editor-in-chief Courtney Fingar share their insights with podcast host Jacopo Dettoni and comment on the proposal of developing free trade zones within British ports once the country leaves the European bloc for good.

Related links

Swati Dhingra CEP publications webpage:  http://cep.lse.ac.uk/_new/publications/author.asp?author=dhingra


Related Links:
fDi Magazine - The Brexit toll on FDI: The evidence so far 22:42

CEP Trade

Swati Dhingra webpage



News Posted: 21/08/2017      [Back to the Top]

Huffington Post

Economist Who Claims £135billion Hard Brexit Boost For UK Guilty Of ‘Violence To Basic Facts Of Economic Life’

The policy, known as ‘Britain Alone’, was savaged by The Centre for Economic Performance at the London School of Economics, which suggested Minford’s work disregarded 40 years of established theory.


Related Links:
Huffington Post - Economist Who Claims £135billion Hard Brexit Boost For UK Guilty Of ‘Violence To Basic Facts Of Economic Life’

‘ECONOMISTS FOR BREXIT’: A critique

CEP Trade CEP Growth

Swati Dhingra webpage

Gianmarco Ottaviano webpage

Thomas Sampson webpage

John Van reenen webpage



News Posted: 21/08/2017      [Back to the Top]

Die Presse

EU-Erweiterung war ein gutes Geschäft / EU enlargement was a good deal

The fact that the EU's eastern enlargement to the EU in 2004 was a win-win for the "old" 15 Member States of the Union as well as for the newcomers in Central and Eastern Europe is clear in view of the overall positive economic figures. A four-member research team has now investigated the extent to which the prosperity gains for the citizens of the old and new Member States and for high and low-skilled workers were achieved. In a recently published study, Lorenzo Caliendo (Yale University), Luca David Opromolla (Banco de Portugal), Fernando Parro (Johns Hopkins University) and Alessandro Sforza (London School of Economics) concluded that the prosperity gains were unequally distributed.

Related publications

“Goods and Factor Market Integration: A Quantitative Assessment of the EU Enlargement”, Luca D. Opromolla, Fernando Parro, Alessandro Sforza. August 2017. http://faculty.som.yale.edu/lorenzocaliendo/COPS.pdf


Related Links:
Die Presse - EU-Erweiterung war ein gutes Geschäft / EU enlargement was a good deal

CEP Trade

Alessandro Sforza webpage



News Posted: 21/08/2017      [Back to the Top]

In Facts - Stop destructive Brexit

BBC gifts Brexit economists too much credibility

The views of Economists for Brexit / Free Trade have repeatedly been rebuffed elsewhere, for example in a report by a group of economists at the LSE’s Centre for Economic Performance. They predict a 2.3% economic loss from Minford’s policy, rather than the 4% gain he claims. They argue Minford “misunderstands the nature of regulations and product standards”, seeing harmonisation across the EU as a “pernicious plot by vested interests to raise prices” rather than a proven way to increase trade and competition in a modern economy. They also reject Minford’s assumptions that countries will buy only from the lowest-cost supplier and not consider other factors such as geographic proximity, transport costs and quality. The economists conclude that “theories need grounding in facts, not ideology”.


Related Links:
In Facts - Stop destructive Brexit - BBC gifts Brexit economists too much credibility

‘ECONOMISTS FOR BREXIT’: A critique

CEP Trade CEP Growth

Swati Dhingra webpage

Gianmarco Ottaviano webpage

Thomas Sampson webpage

John Van reenen webpage



News Posted: 21/08/2017      [Back to the Top]

Yahoo! Finance

Leading economists say £135bn hard Brexit boost claim 'defies gravity'

The LSE quartet – professors Thomas Sampson, Swati Dhingra, Gianmarco Ottaviano and John Van Reenen – do concede that there is, potentially, a very minor boost to going it alone.

Their own models suggest that should the UK leave the bloc and trade under WTO rules, maintaining import tariffs, income per person falls by 2.6%. Under the ‘Britain alone’ scenario of unilateral liberalisation after Brexit, UK real incomes still fall by 2.3%....


Related Links:
Yahoo! Finance - Leading economists say £135bn hard Brexit boost claim 'defies gravity'

BREXIT 2016: Policy Analysis from the Centre for Economic Performance

CEP Growth CEP Trade

Holger Breinlich webpage

Swati Dhingra webpage

Hanwei Huang webpage

Gianmarco Ottaviano webpage

Thomas Sampson webpage

John Van reenen webpage



News Posted: 21/08/2017      [Back to the Top]

HR Dive

Minimum-wage boosts only encourage more bots, researchers say

Two economists said they've found new evidence that minimum-wage hikes force employers to automate low-skilled workers' jobs, reports CNBC. According to David Neumark of UC Irvine and Grace Lordan of the London School of Economics, the low-skilled workers hit hardest by unemployment are young, old, black and female. The research defined low-skilled workers as those with a high school education or less.

Related publications

People Versus Machines: The Impact of Minimum Wages on Automatable Jobs

Published August 2017. Available on the NBER website


Related Links:
HR Dive - Minimum-wage boosts only encourage more bots, researchers say

CEP Wellbeing

Grace Lordan webpage



News Posted: 21/08/2017      [Back to the Top]

FTChinese.com

How do technology companies contribute to alleviating inequality?

More importantly, most of the wealth control of US companies is not one of the few top industries, but a few top companies. 10% of the most profitable US companies are 8 times the average profit of the average company. In the nineties of last century, this value is only three times. Those companies that are financially profitable pay high salaries to their employees, but their competitors are not able to provide the same treatment. In fact, the research results at the Institute of Labor Economics, based in Bonn, show that the pay gap between individual workers has not been due to the company since the 1970s, The pay gap between companies. Another study of the Center for Economic Performance at the London School of Economics and Political Science (LSE) shows that the pay gap between top companies and other companies is the cause of most of the pay inequality in American society.

Related publications

'Measuring Economic Policy Uncertainty', Scott R. Baker, Nicholas Bloom, Steven J. Davis, The Quarterly Journal of Economics, Vol 131, Issue 4, November 2016


Related Links:
FTChinese.com - How do technology companies contribute to alleviating inequality?

Fluctuations in Uncertainty

Economic Recovery and Policy Uncertainty

Policy uncertainty: a new indicator

CEP Growth

Nick Bloom webpage

John Van reenen webpage



News Posted: 21/08/2017      [Back to the Top]

Teraz.sk (Slovak)

The departure of Britain from the EU without agreement would not be a disaster by the IEA

"Compared to the results that would result from trading between the UK and the EU under WTO rules, unilateral liberalization (non-imposition of duties) would provide the United Kingdom with benefits because it would reduce its import costs," said Thomas Sampson, London School of Economist Economics, who did not see the IEA report.


Related Links:
Teraz.sk (Slovak) - The departure of Britain from the EU without agreement would not be a disaster by the IEA

CEP Trade

Thomas Sampson webpage



News Posted: 19/08/2017      [Back to the Top]

Vox

Smaller firms suffer far more from organised, mafia-style crime

Article by Roberto Ganau and Andrés Rodríguez-Pose

Whether organised crime undermines productivity has been studied extensively in broad terms, but not at the firm level. This column uses extensive firm-level data from across Italy to suggest that this is firmly the case, both through direct and indirect channels. The results point to a substantial negative direct effect of organised crime on firms' productivity growth. Moreover, any positive impact derived from industrial clustering and agglomeration economies is thoroughly debilitated by a strong presence of organised criminality.

Related publications

Ganau, R and A Rodríguez-Pose (2017), “Industrial clusters, organized crime and productivity growth in Italian SMEs”, Journal of Regional Science, forthcoming

Related links

Andrés Rodríguez-Pose webpage

Urban and Spatial Programme webpage


Related Links:
Vox - Smaller firms suffer far more from organised, mafia-style crime





News Posted: 19/08/2017      [Back to the Top]

Property Industry Eye

When 140 characters just isn’t enough to debate Stamp Duty

Snippet.. Professor Christian Hilber, who co-authored the LSE research, then joined in, adding: “It’s (Stamp Duty) not the main problem – the planning system is – but it contributes.”

          Related publications

‘Transfer Taxes and Household Mobility: Distortion on the Housing or Labor Market?’, Christian A.L. Hilber and Teemu Lyytikäinen, SERC Discussion Paper No.216, June 2017

http://www.spatialeconomics.ac.uk/textonly/SERC/publications/download/sercdp0216.pdf


Related Links:
Property Industry Eye - When 140 characters just isn’t enough to debate Stamp Duty

CEP Urban and Spatial Programme

Christian Hilber webpage



News Posted: 18/08/2017      [Back to the Top]

Bloomberg

'No Deal' With EU No Disaster for Post-Brexit U.K., Says Report

“Compared to an outcome in which the U.K. and the EU traded under WTO terms, there would be benefits for the U.K. to unilaterally liberalizing as it would reduce the cost of imports,” said Thomas Sampson, an economist at the London School of Economics, who hadn’t seen the IEA report. “The cost is you’re giving away the bargaining chip that you would normally use to get concessions out of the EU.”


Related Links:
Bloomberg - 'No Deal' With EU No Disaster for Post-Brexit U.K., Says Report

CEP Trade

Thomas Sampson webpage



News Posted: 18/08/2017      [Back to the Top]

Le Monde (France)

Le toast à l’avocat, un en-cas qui pourrait coûter cher / Avocado toast, a snack that could be expensive

"The phenomenon is linked to social phenomena often neglected when analyzing food behaviors," notes Clément Bellet, post-doctoral student at the London School of Economics. (Etc ...) "

(Access to the entire article is protected).
 


Related Links:
Le Monde (France) - Le toast à l’avocat, un en-cas qui pourrait coûter cher / Avocado toast, a snack that could be expensive

CEP Wellbeing

Clement Bellet webpage



News Posted: 18/08/2017      [Back to the Top]

What Works Centre for Local Economic Growth blog

Shedding new light on innovation policy

Article by Max Nathan:  ...Our latest case study summarises Innovate UK's programmes of support for microbusinesses and SMEs: mainly grants but also loans, awarded on a competitive basis, either to individual firms, or to promote partnerships with other companies or with universities.


Related Links:
What Works Centre for Local Economic Growth blog - Shedding new light on innovation policy

CEP Urban and Spatial Programme

Max Nathan webpage



News Posted: 17/08/2017      [Back to the Top]

MarketWatch

Raising the minimum wage leads workers in these industries to be replaced by robots

A sharp minimum wage increase in the U.S. will most severely impact low-skilled workers, according to an analysis of U.S. Census Bureau “Current Population Survey” data from 1980 to 2015 by economists Grace Lordan from the London School of Economics and David Neumark from the University of California at Irvine. “The findings imply that groups often ignored in the minimum wage literature are in fact quite vulnerable to employment changes and job loss because of automation following a minimum wage increase,” the paper — distributed by the National Bureau of Economic Research in Cambridge, Mass. — concluded.

Related publications

People Versus Machines: The Impact of Minimum Wages on Automatable Jobs

Published August 2017

Available on the NBER website


Related Links:
MarketWatch - Raising the minimum wage leads workers in these industries to be replaced by robots

CEP Wellbeing

Grace Lordan webpage



News Posted: 17/08/2017      [Back to the Top]

Yahoo!Finance

Here's new evidence minimum wage hikes result in workers being replaced by robots

There is new evidence that raising the minimum wage pushes business owners to replace low-skilled workers with automation. And it shows that old, young, female and black low-skilled workers face the highest levels of unemployment after a minimum-wage increase. Economists Grace Lordan of the London School of Economics and David Neumark of UC Irvine studied 35 years of government census data for their working paper, which was released in August, titled "People Versus Machines: The Impact of Minimum Wages on Automatable Jobs."


Related Links:
Yahoo!Finance - Here's new evidence minimum wage hikes result in workers being replaced by robots

CEP Wellbeing

Grace Lordan webpage



News Posted: 17/08/2017      [Back to the Top]

Independent

A View from the Top: Sir Richard Blundell, feted economist and possible future Nobel prize winner

Snippet: ... “John Van Reenen, one of Blundell's former PHD students (and now a distinguished economist in his own right at the Massachusetts Institute of Technology), argues that one of Blundell's major contributions has been to use econometric techniques and micro-economic data to analyse and improve public policy. He singles out the example of Labour's 1999 New Deal for Young People, which Blundell's research showed was having a big positive effect…”


Related Links:
Independent - A View from the Top: Sir Richard Blundell, feted economist and possible future Nobel prize winner

CEP Growth

John Van reenen webpage



News Posted: 17/08/2017      [Back to the Top]

American Journal of Transportation

'No Deal’ With EU No Disaster for Post-Brexit U.K., Says Report

“Compared to an outcome in which the U.K. and the EU traded under WTO terms, there would be benefits for the U.K. to unilaterally liberalizing as it would reduce the cost of imports,” said Thomas Sampson, an economist at the London School of Economics, who hadn’t seen the IEA report. “The cost is you’re giving away the bargaining chip that you would normally use to get concessions out of the EU.”


Related Links:
American Journal of Transportation - 'No Deal’ With EU No Disaster for Post-Brexit U.K., Says Report

CEP Trade

Thomas Sampson webpage



News Posted: 17/08/2017      [Back to the Top]

CNBC online

Here's new evidence minimum-wage hikes result in workers being replaced by robots

There is new evidence that raising the minimum wage pushes business owners to replace low-skilled workers with automation. And it shows that old, young, female and black low-skilled workers face the highest levels of unemployment after a minimum-wage increase.

Economists Grace Lordan of the London School of Economics and David Neumark of UC Irvine studied 35 years of government census data for their working paper, which was released in August, titled "People Versus Machines: The Impact of Minimum Wages on Automatable Jobs."

Related publications

People Versus Machines: The Impact of Minimum Wages on Automatable Jobs

Published August 2017. Available on the NBER website


Related Links:
CNBC online - Here's new evidence minimum-wage hikes result in workers being replaced by robots

CEP Wellbeing

Grace Lordan webpage



News Posted: 17/08/2017      [Back to the Top]

The Record.com

One U.S. factory goes global, while Trump shrinks the world

Trump's efforts to bring work back to the U.S. could eliminate some jobs that are already here. "Altering NAFTA could fundamentally change the production of the economy — for the U.S., as well as for Mexico — and that will be very disruptive," said Swati Dhingra, an economist at the London School of Economics. "Many of the policies being proposed could end up hurting the people who are being left behind."


Related Links:
The Record.com - One U.S. factory goes global, while Trump shrinks the world

CEP Trade

Swati Dhingra webpage



News Posted: 16/08/2017      [Back to the Top]

Kingdom FM

Kingdom FM [14:00:01]

Mention of LSE study that found banning mobile phones from classrooms improved test scores.

Click to open


Related Links:
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: 16/08/2017      [Back to the Top]

Econotimes

Government study warns minimum wage hike leads to automation job loss

The main people behind the study are London School of Economics’ Grace Lordan and University of California, Irvine’s David Neumark. Their conclusion is that “low-skilled” workers are at risk of losing their livelihood with a wage increase simply because their jobs could be replaced by automation.

Related publications

People Versus Machines: The Impact of Minimum Wages on Automatable Jobs

Published August 2017

Available on the NBER website


Related Links:
Econotimes - Government study warns minimum wage hike leads to automation job loss

CEP Wellbeing

Grace Lordan webpage



News Posted: 16/08/2017      [Back to the Top]

24/7 Wall St

Report says mandated wage hikes accelerate introduction of technology in workplace

New research indicates that minimum-wage laws have forced companies to accelerate the introduction of technology in the workplace, hurting American workers in mostly low-skilled jobs. The findings come from a working paper published by the National Bureau of Economic Research (NBER) called “People Versus Machines: The Impact of Minimum Wages on Automatable Jobs,” by Grace Lordan and David Neumark.

Related publications

People Versus Machines: The Impact of Minimum Wages on Automatable Jobs

Published August 2017

Available on the NBER website


Related Links:
24/7 Wall St - Report says mandated wage hikes accelerate introduction of technology in workplace

CEP Wellbeing

Grace Lordan webpage



News Posted: 16/08/2017      [Back to the Top]

The Daily Caller

$1 increase in minimum wage would cost thousands of jobs

A $1 increase in the federal minimum wage could cost the national economy tens of thousands of jobs, according to a new study by economists Grace Lordan of the London School of Economics and David Neumark of the University of California, Irvine. The economists sourced through 35 years of data and found that increasing the minimum wage incentivizes firms to automate low-skilled labor–the very individuals who would stand to benefit the most from even marginal increases in compensation. The pair focused on workers with only a high school degree, as this group is largely the target of minimum wage laws.

Related publications

People Versus Machines: The Impact of Minimum Wages on Automatable Jobs

Published August 2017

Available on the NBER website


Related Links:
The Daily Caller - $1 increase in minimum wage would cost thousands of jobs

CEP Urban and Spatial Programme

Grace Lordan webpage



News Posted: 16/08/2017      [Back to the Top]

This is Money.co.uk

Stamp duty is making the housing crisis worse as older homeowners stay put to avoid it - and families can't move up the property ladder

Stamp duty is making the housing crisis worse because it is deterring older homeowners from downsizing, it has been claimed. A report by the London School of Economics and the VATT Institute for Economic Research claimed that the rate of home moving would be 27 per cent higher if the levy was completely abolished….Professor Christian Hilber, who co-authored the report, said: 'Stamp duty discourages young expanding families from moving to more adequate, larger housing and it discourages the elderly from downsizing.

Related publications

‘Transfer Taxes and Household Mobility: Distortion on the Housing or Labor Market?’, Christian A.L. Hilber and Teemu Lyytikäinen, SERC Discussion Paper No.216, June 2017

http://www.spatialeconomics.ac.uk/textonly/SERC/publications/download/sercdp0216.pdf


Related Links:
This is Money.co.uk - Stamp duty is making the housing crisis worse as older homeowners stay put to avoid it - and families can't move up the property ladder

CEP Urban and Spatial Programme

Christian Hilber webpage



News Posted: 16/08/2017      [Back to the Top]

CNN (TV)

Rosemary Church

Dennis Novy gave a live TV interview to CNN (host: Rosemary Church). The topic was the economic impact of Brexit, in particular a potential brain drain from the UK jobs market and the proposed post-Brexit customs arrangement with the European Union.

 

 


Related Links:
CNN (TV) - Rosemary Church

CEP Trade

Dennis Novy webpage



News Posted: 16/08/2017      [Back to the Top]

Vox

Missing growth: How imputation and creative destruction affect TFP measurement

Article by Philippe Aghion, Antonin Bergeaud, Timo Boppart, Peter Klenow, Huiyu Li 

Slowing growth of total factor productivity has led some to suggest that the world is running out of ideas for innovation. This column suggests that the way output is measured is vital to assessing this, and quantifies the role of imputation in output measurement bias. By differentiating between truly ‘new’ and incumbent products, it finds missing growth in the US economy. Accounting for this missing growth will allow statistical offices to improve their methodology and more readily recognise the ready availability of new ideas, but also has implications for optimal growth and inflation targeting policies…


Related Links:
Vox - Missing growth: How imputation and creative destruction affect TFP measurement

CEP Growth

Philippe Aghion webpage



News Posted: 16/08/2017      [Back to the Top]

City A.M.

Instilling competitive gender quotas could end the Crisis of the Mediocre Men

…A paper in the latest American Economic Review (AER) provides an intriguing perspective on the issue.

Tim Besley of the LSE and two Swedish colleagues carried out a very detailed empirical analysis of elections in Sweden over a 20 year period. The title effectively summarises their work: Gender Quotas and the Crisis of the Mediocre Man.

Related publications

“Gender Quotas and the Crisis of the Mediocre Man: Theory and Evidence from Sweden”

Timothy Besley, Olle Folke, Torsten Persson, Johanna Rickne. American Economic Review, vol. 107, no. 8, August 2017. https://www.aeaweb.org/articles?id=10.1257/aer.20160080&&from=f


Related Links:
City A.M. - Instilling competitive gender quotas could end the Crisis of the Mediocre Men

CEP Trade



News Posted: 16/08/2017      [Back to the Top]

radioszczecin.pl

Wielka Brytania chce okresu przejściowego. Komentarze po dokumencie rządu / Britain wants a transition period. Comments after government document

The British government has issued a document on Tuesday expressing its willingness to ensure both sides have the greatest stability for several years after the Brexite, and at the same time it was time for London to negotiate agreements with the United States or India. Dr. Thomas Sampson, however, believes that the plan is too ambitious. - I would be very surprised if the Union and London reached an agreement before March 2019. I expect that this transition period will primarily serve to get more time to complete the negotiations, rather than simply putting into effect their results. Until we know what the deal looks like, it will be very difficult for Britain to make a commitment to other countries, "says Thomas Sampson.


Related Links:
radioszczecin.pl - Wielka Brytania chce okresu przejściowego. Komentarze po dokumencie rządu / Britain wants a transition period. Comments after government document

CEP Trade

Thomas Sampson webpage



News Posted: 16/08/2017      [Back to the Top]

Developpez.com (France)

Une augmentation du Smic favorise l'automatisation et le chômage dans les métiers automatisables / An increase in the SMIC promotes automation and unemployment in automated trades

In a new study, two economists, Grace Lordan of the London School of Economics and David Neumark of the University of California at Irvine, analyzed 35 years of census data from the United States. The data cover the period 1980 to 2015. The objective was to study the effect of minimum wage increases on employment in automatable jobs…

Related publications

People Versus Machines: The Impact of Minimum Wages on Automatable Jobs

Published August 2017

Available on the NBER website


Related Links:
Developpez.com (France) - Une augmentation du Smic favorise l'automatisation et le chômage dans les métiers automatisables / An increase in the SMIC promotes automation and unemployment in automated trades

CEP Wellbeing

Grace Lordan webpage



News Posted: 16/08/2017      [Back to the Top]

The Record.com

One U.S. factory goes global, while Trump shrinks the world

"Altering NAFTA could fundamentally change the production of the economy — for the U.S., as well as for Mexico — and that will be very disruptive," said Swati Dhingra, an economist at the London School of Economics. "Many of the policies being proposed could end up hurting the people who are being left behind."…

Related links

Swati Dhingra CEP publications webpage:  http://cep.lse.ac.uk/_new/publications/author.asp?author=dhingra


Related Links:
The Record.com - One U.S. factory goes global, while Trump shrinks the world

CEP Trade

Swati Dhingra webpage



News Posted: 16/08/2017      [Back to the Top]

CNN

CNN Live

Dennis Novy gave a live TV interview to CNN (host: Rosemary Church). The topic was the economic impact of Brexit, in particular a potential brain drain from the UK jobs market and the proposed post-Brexit customs arrangement with the European Union.


Related Links:
CNN - CNN Live

CEP Trade

Dennis Novy webpage



News Posted: 16/08/2017      [Back to the Top]

BBC News

Call for mobile phone ban in Scottish primary schools

Mobile phones should be banned from primary schools, according to the Scottish Conservatives.

Scottish Conservative MSP Michelle Ballantyne urged the government to overhaul this guidance, calling for an outright ban on phones in primary schools and the introduction of restrictions on their use in secondary schools if head teachers deem it necessary. The South Scotland MSP highlighted research from academics at the London School of Economics into the impact of banning phones in high schools in England.


Related Links:
BBC News - Call for mobile phone ban in Scottish primary 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: 16/08/2017      [Back to the Top]

Times of Tunbridge Wells

Report claims Brexit will sting whatever guise it comes in…

THE economies of both Tunbridge Wells and Tonbridge will suffer in the coming years due to Brexit, a new report by the London School of Economics claims. Titled The Local Economic Effects of Brexit, the study shows every authority in the UK will see its prosperity curtailed regardless of whether it is a ‘hard’ or ‘soft’ Brexit. According to the report, if the UK was to undertake a ‘hard Brexit’, then in the ten years after crashing out of the EU the economy of Tunbridge Wells will be 2.6 per cent smaller than if it had stayed in. … The report’s authors, who work for the university’s Centre for Economic Performance, state they have modelled their estimates on ‘medium to long run impact of changes to trade costs’, and have ignored effects on innovation, immigration and inward investment.

Related publications

‘Brexit, Trade and the Economic Impacts on UK Cities’, Naomi Clayton and Henry Overman, Centre for Cities briefing, July 2017

http://www.centreforcities.org/wp-content/uploads/2017/07/17-07-26-Brexit-trade-and-the-economic-impacts-on-UK-cities.pdf


Related Links:
Times of Tunbridge Wells - Report claims Brexit will sting whatever guise it comes in…

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 16/08/2017      [Back to the Top]

Scottish Daily Mail

Heads 'need to be able to ban phones'

Snippet: ...Scottish MSP Michelle Ballantyne highlighted research by academics at the London School of Economics into the impact of banning mobile phones in schools. The authors concluded schools that restrict access to mobile phones ‘subsequently experience an improvement in test scores’ and it ‘improves outcomes for the low-achieving students the most’.

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

 


Related Links:
Scottish Daily Mail - Heads 'need to be able to ban phones'

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

CEP Education and Skills

Richard Murphy webpage



News Posted: 16/08/2017      [Back to the Top]

Bankier (Poland)

Expert: Britain wants to speed up trade talks with brexitas

Dr Thomas Sampson of the London School of Economics (LSE) said on Tuesday that the publication of UK government plans for a transition period and regulations after the breit suggests that London wants to speed up talks on a future free trade agreement with the EU.

Related Links:
Bankier (Poland) - Expert: Britain wants to speed up trade talks with brexitas

CEP Trade

Thomas Sampson webpage



News Posted: 15/08/2017      [Back to the Top]

Manchester University Policy Blog

Is having any job at all better for your health and wellbeing than being unemployed?

Snippet.. There seems to be a common consensus that anything is better than being unemployed – even working in a job that does not pay well and in which you have little control over your working conditions, such as the hours that you work. Economists such as Lord Richard Layard have emphasised the need to get people out of unemployed states as “(almost) any job is better than no job”.


Related Links:
Manchester University Policy Blog - Is having any job at all better for your health and wellbeing than being unemployed?

CEP Wellbeing

Richard Layard webpage



News Posted: 15/08/2017      [Back to the Top]

TVN24bis.pl

"Londyn chce przyspieszenia rozmów o handlu po brexicie" / "London wants to speed up talks about trade after brexit"

Dr Thomas Sampson of the London School of Economics (LSE) said that the publication of the UK government's plans for a transition period and regulations after the breit suggests that London wants to speed up talks on a future free trade agreement with the European Union.

Also in

PolskieRadio.pl

Ekspert: pobrexitowy okres przejściowy nie pomoże Londynowi w zawieraniu umów z krajami pozaeuropejskimi / Expert: The transitional transition will not help London in concluding agreements with non-European countries

The London-backed transition period will not help the United Kingdom in entering into new trade agreements with countries outside the European Union, "said Thomas Sampson, an economist at the London School of Economics.

http://www.polskieradio.pl/5/3/Artykul/1818996,Ekspert-pobrexitowy-okres-przejsciowy-nie-pomoze-Londynowi-w-zawieraniu-umow-z-krajami-pozaeuropejskimi


Related Links:
TVN24bis.pl - "Londyn chce przyspieszenia rozmów o handlu po brexicie" / "London wants to speed up talks about trade after brexit"

CEP Trade

Thomas Sampson webpage



News Posted: 15/08/2017      [Back to the Top]

Futurism

Study Shows That Minimum Wage Hikes Put More Jobs at Risk of Automation

The desire for a higher wage is pretty self explanatory. However, the impact a minimum wage increase could have on society is not so clear.

In an effort to shed light on this subject, researchers at the National Bureau of Economic Research (NBER) conducted a study, and they’ve concluded that a minimum wage hike might not necessarily lead to happier workers. In fact, it could lead to fewer workers as such an increase has historically resulted in the loss of more jobs to automation.

For this study, authors Grace Lordan of the London School of Economics and David Neumark of the University of California, Irvine looked at minimum wage changes in the United States from 1980 to 2015. They realized that these changes affected the number of so-called “low-skill” or minimum wage jobs — such as packing boxes or using sewing machines — in various industries in the country.

Related publications

People Versus Machines: The Impact of Minimum Wages on Automatable Jobs

Published August 2017

Available on the NBER website


Related Links:
Futurism - Study Shows That Minimum Wage Hikes Put More Jobs at Risk of Automation

CEP Wellbeing

Grace Lordan webpage



News Posted: 15/08/2017      [Back to the Top]

BBC TV

Victoria Derbyshire

Dr Swati Dhingra talks about the customs union plan.

Related links

Swati Dhingra CEP publications webpage:  http://cep.lse.ac.uk/_new/publications/author.asp?author=dhingra


Related Links:
BBC TV - Victoria Derbyshire

CEP Trade

Swati Dhingra webpage



News Posted: 15/08/2017      [Back to the Top]

Bloomberg News online

How low can you go? Economists game out U.S. unemployment bounds

Grandma got replaced by a robot

Old, lower-skilled manufacturing employees lose jobs to robots amid minimum wage increases, new research from the University of California at Irvine’s David Neumark and London School of Economics’ Grace Lordan shows. It’s a well-told story that sudden wage hikes spur job loss, and the innovation here is that the authors dig into just where those cuts happen. A $1 increase in the minimum wage decreases the share of low-skilled automate-able jobs by 0.43 percentage point, the authors find, but in manufacturing that jumps to 0.99 percentage point, and the share of older workers declines most sharply (women and black workers also post big drops).

Related publications

People Versus Machines: The Impact of Minimum Wages on Automatable Jobs

Published August 2017

Available on the NBER website


Related Links:
Bloomberg News online - How low can you go? Economists game out U.S. unemployment bounds

CEP Wellbeing

Grace Lordan webpage



News Posted: 15/08/2017      [Back to the Top]

Fox Business

U.K. proposes broad customs deal with EU after Brexit – 2nd update

Also, the U.K. paper isn't a negotiating document and presented technical ideas that weren't fully developed and lacked significant detail. The two long-term approaches "are worth exploring further, but the hard work of assessing whether these ideas could work in practice has yet to be done," wrote Thomas Sampson of the London School of Economics in a blog.

Related article

LSE Brexit blog

UK government’s customs position paper fails to answer key questions

The UK government’s new position paper on future customs arrangements sets out its objectives for how goods trade with the EU will be governed following Brexit. However, as Thomas Sampson from the LSE’s Centre for Economic Performance outlines below, the proposal is incomplete and leaves unanswered five key questions about the UK’s position.

http://blogs.lse.ac.uk/brexit/2017/08/15/uk-governments-customs-position-paper-fails-to-answer-key-questions/


Related Links:
Fox Business - U.K. proposes broad customs deal with EU after Brexit – 2nd update

CEP Trade

Thomas Sampson webpage



News Posted: 15/08/2017      [Back to the Top]

4-traders

U.K. proposes broad customs deal with EU after Brexit – 2nd update

LONDON -- The U.K. government proposed a far-reaching customs arrangement with the European Union that it said would eliminate the need for border checks on imports and exports after Brexit. The "new customs partnership" with the EU was one of two suggestions the government put forward on Tuesday in a paper detailing its thinking on customs before resuming talks with Brussels this month over terms of Britain's withdrawal from the EU. … Also, the U.K. paper isn't a negotiating document and presented technical ideas that weren't fully developed and lacked significant detail. The two long-term approaches "are worth exploring further, but the hard work of assessing whether these ideas could work in practice has yet to be done," wrote Thomas Sampson of the London School of Economics in a blog.

Related article

LSE Brexit blog

UK government’s customs position paper fails to answer key questions

The UK government’s new position paper on future customs arrangements sets out its objectives for how goods trade with the EU will be governed following Brexit. However, as Thomas Sampson from the LSE’s Centre for Economic Performance outlines below, the proposal is incomplete and leaves unanswered five key questions about the UK’s position.

http://blogs.lse.ac.uk/brexit/2017/08/15/uk-governments-customs-position-paper-fails-to-answer-key-questions/


Related Links:
4-traders - U.K. proposes broad customs deal with EU after Brexit – 2nd update

CEP Trade

Thomas Sampson webpage



News Posted: 15/08/2017      [Back to the Top]

LSE Brexit blog

UK government’s customs position paper fails to answer key questions

The UK government’s new position paper on future customs arrangements sets out its objectives for how goods trade with the EU will be governed following Brexit. However, as Thomas Sampson from the LSE’s Centre for Economic Performance outlines below, the proposal is incomplete and leaves unanswered five key questions about the UK’s position.

 

Related article

LSE Brexit blog

UK government’s customs position paper fails to answer key questions

The UK government’s new position paper on future customs arrangements sets out its objectives for how goods trade with the EU will be governed following Brexit. However, as Thomas Sampson from the LSE’s Centre for Economic Performance outlines below, the proposal is incomplete and leaves unanswered five key questions about the UK’s position.

http://blogs.lse.ac.uk/brexit/2017/08/15/uk-governments-customs-position-paper-fails-to-answer-key-questions/


Related Links:
LSE Brexit blog - UK government’s customs position paper fails to answer key questions

CEP Trade

Thomas Sampson webpage



News Posted: 15/08/2017      [Back to the Top]

CNBC online

One US factory goes global, while Trump shrinks the world

"Altering Nafta could fundamentally change the production of the economy — for the U.S., as well as for Mexico — and that will be very disruptive," said Swati Dhingra, an economist at the London School of Economics. "Many of the policies being proposed could end up hurting the people who are being left behind."

Related links

Swati Dhingra CEP publications webpage:  http://cep.lse.ac.uk/_new/publications/author.asp?author=dhingra


Related Links:
CNBC online - One US factory goes global, while Trump shrinks the world

CEP Trade

Swati Dhingra webpage



News Posted: 15/08/2017      [Back to the Top]

Honolulu Star Advertiser

One U.S. factory goes global while Trump shrinks world

The latest concern unfolds this week, as the Trump administration begins to renegotiate the North American Free Trade Agreement, redrawing the terms of commerce with Mexico and Canada. “Altering NAFTA could fundamentally change the production of the economy — for the U.S., as well as for Mexico — and that will be very disruptive,” said Swati Dhingra, an economist at the London School of Economics. “Many of the policies being proposed could end up hurting the people who are being left behind.”

Related links

Swati Dhingra CEP publications webpage:  http://cep.lse.ac.uk/_new/publications/author.asp?author=dhingra


Related Links:
Honolulu Star Advertiser - One U.S. factory goes global while Trump shrinks world

CEP Trade

Swati Dhingra webpage



News Posted: 15/08/2017      [Back to the Top]

New York Times

One U.S. factory goes global while Trump shrinks world

The latest concern unfolds this week, as the Trump administration begins to renegotiate the North American Free Trade Agreement, redrawing the terms of commerce with Mexico and Canada. “Altering NAFTA could fundamentally change the production of the economy — for the U.S., as well as for Mexico — and that will be very disruptive,” said Swati Dhingra, an economist at the London School of Economics. “Many of the policies being proposed could end up hurting the people who are being left behind.”

Related links

Swati Dhingra CEP publications webpage:  http://cep.lse.ac.uk/_new/publications/author.asp?author=dhingra


Related Links:
New York Times - One U.S. factory goes global while Trump shrinks world

CEP Trade

Swati Dhingra webpage



News Posted: 15/08/2017      [Back to the Top]

Scotsman

MSP wants headteachers to be allowed to ban mobiles in school

Headteachers should have the power to ban mobile phones in schools, a Tory MSP has said. South Scotland MSP Michelle Ballantyne has urged the Scottish Government to overhaul its 2013 guidance on the use of mobile devices in schools. She wants a ban on phones in primary schools and the introduction of restrictions on their use in secondary schools if headteachers deem it necessary. Ms Ballantyne highlighted research by academics at the London School of Economics which explored the impact of banning mobile phones in schools. The authors concluded schools that restrict access to mobile phones “subsequently experience an improvement in test scores”.


Related Links:
Scotsman - MSP wants headteachers to be allowed to ban mobiles in school

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: 15/08/2017      [Back to the Top]

MIT Technology Review

Increasing Minimum Wage puts more jobs at risk of automation

When the minimum wage goes up, the robots come for people's jobs. That's the upshot of a paper published today on the National Bureau of Economic Research's website (abstract, full PDF paywalled), which analyzed how changes to the minimum wage from 1980 to 2015 affected low-skill jobs in various sectors of the U.S. economy. … Interestingly, a study of Seattle's new law, released in June, suggested that cuts to working hours meant people were actually losing as much as $125 a month. The new analysis, by Grace Lordan of the London School of Economics and David Neumark at the University of California, Irvine, suggests that there's a similar negative effect among people who work minimum-wage jobs that machines can do. The researchers found that across all industries they measured, raising minimum wage by $1 equates to a decline in "automatable" jobs—things like packing boxes or operating a sewing machine—of 0.43 percent.


Related Links:
MIT Technology Review - Increasing Minimum Wage puts more jobs at risk of automation

CEP Wellbeing

Grace Lordan webpage



News Posted: 15/08/2017      [Back to the Top]

Economics21

Robots gain from higher minimum wage

A new working paper by Grace Lordan of the London School of Economics and David Neumark of the University of California at Irvine finds that increasing the minimum wage lowers the share of jobs susceptible to automation held by low-skill workers. A $1 increase in the minimum wage lowers this share by 0.43 percentage points.  Increases also adversely affect the workers' likelihood of being employed and hours worked.

Related publications

People Versus Machines: The Impact of Minimum Wages on Automatable Jobs

Published August 2017

Available on the NBER website


Related Links:
Economics21 - Robots gain from higher minimum wage

CEP Wellbeing

Grace Lordan webpage



News Posted: 14/08/2017      [Back to the Top]

Washington Examiner

New study finds minimum wage hikes lead to job automation

States that raise their minimum wages may put low-skill workers at risk of having their jobs automated, according to a new academic paper published Monday. The study published by the National Bureau of Economic Research finds that higher minimum wages are likely to lower employment in manufacturing jobs that can be performed by robots, and hit older, black, and female workers particularly hard. The paper, which has not yet gone through the peer review process, was written by Grace Lordan of the London School of Economics and David Neumark of the University of California at Irvine, one of the pre-eminent academic analysts of the minimum wage.

Related publications

People Versus Machines: The Impact of Minimum Wages on Automatable Jobs

Published August 2017

Available on the NBER website


Related Links:
Washington Examiner - New study finds minimum wage hikes lead to job automation

CEP Wellbeing

Grace Lordan webpage



News Posted: 14/08/2017      [Back to the Top]

theregister.co.uk

Raising minimum wage will raise something else: An army of robots taking away folks' jobs

In People Versus Machines: The Impact of Minimum Wages on Automatable Jobs, Grace Lordan, associate professor in health economics at the London School of Economics, and David Neumark, professor of economics at the University of California, Irvine, show that raising the minimum wage may have unintended consequences.

Also in

E21

Robots Gain from Higher Minimum Wage

A new working paper by Grace Lordan of the London School of Economics and David Neumark of the University of California at Irvine finds that increasing the minimum wage lowers the share of jobs susceptible to automation held by low-skill workers. A $1 increase in the minimum wage lowers this share by 0.43 percentage points.  Increases also adversely affect the workers' likelihood of being employed and hours worked.

https://economics21.org/html/robots-gain-higher-minimum-wage-2510.html

 

Washington Examiner

New study finds minimum wage hikes lead to job automation

The paper, which has not yet gone through the peer review process, was written by Grace Lordan of the London School of Economics and David Neumark of the University of California at Irvine, one of the pre-eminent academic analysts of the minimum wage.

http://www.washingtonexaminer.com/new-study-finds-minimum-wage-hikes-lead-to-job-automation/article/2631432

Related publications

People Versus Machines: The Impact of Minimum Wages on Automatable Jobs

Published August 2017

Available on the NBER website


Related Links:
theregister.co.uk - Raising minimum wage will raise something else: An army of robots taking away folks' jobs

CEP Wellbeing

Grace Lordan webpage



News Posted: 14/08/2017      [Back to the Top]

HowlingPixel

Technological unemployment

Some recent studies however, such as a 2015 paper by Georg Graetz and Guy Michaels, found that at least in the area they studied – the impact of industrial robots – innovation is boosting pay for highly skilled workers while having a more negative impact on those with low to medium skills.

 


Related Links:
HowlingPixel - Technological unemployment

Robots at work: the impact on productivity and jobs

Robots at Work

CEP Labour Markets

Georg Graetz webpage

Guy Michaels webpage



News Posted: 14/08/2017      [Back to the Top]

Mortgage Introducer online

Our great housing problem

A recent paper by Christian Hilber of the London School of Economics suggests that stamp duty reduces the rate of home moving by about a fifth.

Related publications

‘Transfer Taxes and Household Mobility: Distortion on the Housing or Labor Market?’, Christian A.L. Hilber and Teemu Lyytikäinen, SERC Discussion Paper No.216, June 2017

http://www.spatialeconomics.ac.uk/textonly/SERC/publications/download/sercdp0216.pdf


Related Links:
Mortgage Introducer online - Our great housing problem

CEP Urban and Spatial Programme

Christian Hilber webpage



News Posted: 14/08/2017      [Back to the Top]

Today’s Conveyancer

Stamp duty under new scrutiny

Academics have claimed that the housing market is being adversely affected by stamp duty. According to research from the London School of Economics and the VATT Institute for Economic Research, the duty is deterring households from moving, especially where the distance between properties is small.

Related publications

‘Transfer Taxes and Household Mobility: Distortion on the Housing or Labor Market?’, Christian A.L. Hilber and Teemu Lyytikäinen, SERC Discussion Paper No.216, June 2017

http://www.spatialeconomics.ac.uk/textonly/SERC/publications/download/sercdp0216.pdf

 


Related Links:
Today’s Conveyancer - Stamp duty under new scrutiny

CEP Urban and Spatial Programme

Christian Hilber webpage



News Posted: 14/08/2017      [Back to the Top]

Chicago Booth Review

A global measure of uncertain economic times

Uncertainty about a nation’s economic policies can influence both politics and financial markets, and the effects often spread beyond the country’s borders. Building on his research with Northwestern’s Scott R. Baker and Stanford’s Nick Bloom measuring policy uncertainty in the world’s major economies, Chicago Booth’s Steven J. Davis has constructed an index that combines data from 18 countries to provide a global measurement of uncertainty from 1997 to present.

Related publications

'Measuring Economic Policy Uncertainty', Scott R. Baker, Nicholas Bloom, Steven J. Davis, The Quarterly Journal of Economics, Vol 131, Issue 4, November 2016


Related Links:
Chicago Booth Review - A global measure of uncertain economic times

Measuring Economic Policy Uncertainty

CEP Growth

Nick Bloom webpage



News Posted: 14/08/2017      [Back to the Top]

Forsal.Pl (Poland)

What about international trade after brexit? Here are the possibilities and their consequences

The Center for Economic Performance estimated that in the case of such a scenario over the decade, trade would have fallen by 40 percent and average income by 2.6 percent.


Related Links:
Forsal.Pl (Poland) - What about international trade after brexit? Here are the possibilities and their consequences

BREXIT 2016: Policy Analysis from the Centre for Economic Performance

CEP Growth CEP Trade

Holger Breinlich webpage

Swati Dhingra webpage

Hanwei Huang webpage

Gianmarco Ottaviano webpage

Thomas Sampson webpage

John Van reenen webpage



News Posted: 14/08/2017      [Back to the Top]

Perspectiva.com

Wealth or wellbeing?

According to a study by the London School of Economics (LSE), with the participation of the Organization for Economic Cooperation and Development, most human misery is not due to economic factors, but to failed relationships and physical and mental illness . … According to Richard Layard, one of those responsible for the study, "the evidence shows that the things that matter most to happiness and misery are social relationships and mental and physical health." In his view, this demands a new role for the state, but not in the sense of "wealth creation", but in the sense of "welfare creation."

Associated article

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


Related Links:
Perspectiva.com - Wealth or wellbeing?

CEP Wellbeing

George Ward webpage

Andrew Clark webpage

Sarah Flèche webpage

Richard Layard webpage

Nattavudh Powdthavee webpage



News Posted: 13/08/2017      [Back to the Top]

The Times

The regions can be our road to revival, but only if transport links are improved

A rebalancing is long overdue. “Regional disparities are wider in the UK than other western European countries,” according to the London School of Economics’ Centre for Economic Performance. One reason why London’s productivity, and hence wealth, is so much greater than Britain’s other cities is the sophistication of the commuter network. Studies have shown that people tolerate roughly an hour’s travel but much more than that and the pool of labour available to an employer shrinks. With such a shallow pool of talent in sites as stranded as Cheshire science park, business would have to think twice about putting down roots.

Related publications

‘Brexit, Trade and the Economic Impacts on UK Cities’, Naomi Clayton and Henry Overman, Centre for Cities briefing, July 2017 

http://www.centreforcities.org/wp-content/uploads/2017/07/17-07-26-Brexit-trade-and-the-economic-impacts-on-UK-cities.pdf


Related Links:
The Times - The regions can be our road to revival, but only if transport links are improved

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 12/08/2017      [Back to the Top]

Simple Landlords Insurance

Stamp Duty increase fuels housing crisis – new report claims

Professor Christian Hilber, who co-authored the report, said: "Stamp duty discourages young expanding families from moving to more adequate, larger housing and it discourages the elderly from downsizing. "Our analysis suggests that mobility would be 27 per cent higher if stamp duty was abolished or replaced with an annual tax on the value of property."

Related publications

‘Transfer Taxes and Household Mobility: Distortion on the Housing or Labor Market?’, Christian A.L. Hilber and Teemu Lyytikäinen, SERC Discussion Paper No.216, June 2017

http://www.spatialeconomics.ac.uk/textonly/SERC/publications/download/sercdp0216.pdf


Related Links:
Simple Landlords Insurance - Stamp Duty increase fuels housing crisis – new report claims

CEP Urban and Spatial Programme

Christian Hilber webpage



News Posted: 11/08/2017      [Back to the Top]

Property Investor Today

Cut stamp duty to free up mobility, says report

Current stamp duty rates are deterring older buyers from downsizing and therefore freeing up homes for those further down the housing ladder, but the research from the London School of Economics and the VATT Institute for Economic Research, says that moving levels would increase by over a quarter if the tax was scrapped. Professor Christian Hilber, co-author of the report, commented: “The key message is that stamp duty hampers mobility significantly, it create a mismatch and distortions in the housing market. Our analysis suggests that mobility would be 27% higher if stamp duty was abolished or replaced with an annual tax on the value of property.

Related publications

‘Transfer Taxes and Household Mobility: Distortion on the Housing or Labor Market?’, Christian A.L. Hilber and Teemu Lyytikäinen, SERC Discussion Paper No.216, June 2017

http://www.spatialeconomics.ac.uk/textonly/SERC/publications/download/sercdp0216.pdf


Related Links:
Property Investor Today - Cut stamp duty to free up mobility, says report

CEP Urban and Spatial Programme

Christian Hilber webpage



News Posted: 11/08/2017      [Back to the Top]

Landlord News

More calls for Stamp Duty to be amended

Present rates of Stamp Duty are putting older buyers off downsizing and stopping more homes coming onto the market for those at the bottom of the housing ladder. Research from the London School of Economics and the VATT Institute for Economic Research suggests that levels of moving could increase by a quarter if the tax was to be scrapped. Professor Christian Hilber, co-author of the report, observed: ‘The key message is that stamp duty hampers mobility significantly, it create a mismatch and distortions in the housing market. Our analysis suggests that mobility would be 27% higher if stamp duty was abolished or replaced with an annual tax on the value of property.’

Related publications

‘Transfer Taxes and Household Mobility: Distortion on the Housing or Labor Market?’, Christian A.L. Hilber and Teemu Lyytikäinen, SERC Discussion Paper No.216, June 2017

http://www.spatialeconomics.ac.uk/textonly/SERC/publications/download/sercdp0216.pdf


Related Links:
Landlord News - More calls for Stamp Duty to be amended

CEP Urban and Spatial Programme

Christian Hilber webpage



News Posted: 11/08/2017      [Back to the Top]

Financial Times

Time to sound the horn for council tax reform

By raising the costs of moving home, stamp duty is likely to have “very substantial detrimental effects” on the property market, according to research released this week by academics from the London School of Economics and Finland’s VATT Institute.

Related publications

‘Transfer Taxes and Household Mobility: Distortion on the Housing or Labor Market?’, Christian A.L. Hilber and Teemu Lyytikäinen, SERC Discussion Paper No.216, June 2017

http://www.spatialeconomics.ac.uk/textonly/SERC/publications/download/sercdp0216.pdf


Related Links:
Financial Times - Time to sound the horn for council tax reform

CEP Urban and Spatial Programme

Christian Hilber webpage



News Posted: 11/08/2017      [Back to the Top]

Investor Today

Cut stamp duty to free up mobility, says report

Current stamp duty rates are deterring older buyers from downsizing and therefore freeing up homes for those further down the housing ladder, but the research from the London School of Economics and the VATT Institute for Economic Research, says that moving levels would increase by over a quarter if the tax was scrapped.

Professor Christian Hilber, co-author of the report, commented: “The key message is that stamp duty hampers mobility significantly, it create a mismatch and distortions in the housing market. Our analysis suggests that mobility would be 27% higher if stamp duty was abolished or replaced with an annual tax on the value of property.

Related publications

‘Transfer Taxes and Household Mobility: Distortion on the Housing or Labor Market?’, Christian A.L. Hilber and Teemu Lyytikäinen, SERC Discussion Paper No.216, June 2017 http://www.spatialeconomics.ac.uk/textonly/SERC/publications/download/sercdp0216.pdf


Related Links:
Investor Today - Cut stamp duty to free up mobility, says report

CEP Urban and Spatial Programme

Christian Hilber webpage



News Posted: 11/08/2017      [Back to the Top]

KentLive

Thanet is predicted to be the worst affected area in Kent by a ‘soft Brexit’

Experts have predicted that Thanet would be the hardest hit area of Kent in a 'soft Brexit' scenario. A new study by the London School of Economics revealed that Thanet could lose £27.2 million – based largely on the assumption the UK could still negotiate access to the EU single market.

Related publications

‘Brexit, Trade and the Economic Impacts on UK Cities’, Naomi Clayton and Henry Overman, Centre for Cities briefing, July 2017

http://www.centreforcities.org/wp-content/uploads/2017/07/17-07-26-Brexit-trade-and-the-economic-impacts-on-UK-cities.pdf


Related Links:
KentLive - Thanet is predicted to be the worst affected area in Kent by a ‘soft Brexit’

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 10/08/2017      [Back to the Top]

Daily Mail

Is this the way to beat stamp duty? Savvy widower, 82, with a 10 room property 'downsizes' by splitting his home in HALF to live in one side and let the other

Snippet: ... A report by the London School of Economics also claimed that stamp duty is making the housing crisis worse because it is deterring older homeowners from downsizing. 

Related publications

‘Transfer Taxes and Household Mobility: Distortion on the Housing or Labor Market?’, Christian A.L. Hilber and Teemu Lyytikäinen, SERC Discussion Paper No.216, June 2017

http://www.spatialeconomics.ac.uk/textonly/SERC/publications/download/sercdp0216.pdf


Related Links:
Daily Mail - Is this the way to beat stamp duty? Savvy widower, 82, with a 10 room property 'downsizes' by splitting his home in HALF to live in one side and let the other

CEP Urban and Spatial Programme

Christian Hilber webpage



News Posted: 10/08/2017      [Back to the Top]

Taizhou (China)

British latest research: stamp duty into the real estate market stumbling block

Snippet: ... "The important message for our paper is that the taxation has significantly hurt the liquidity," said Professor Christian Hilber, co-author of the report.

Related publications

‘Transfer Taxes and Household Mobility: Distortion on the Housing or Labor Market?’, Christian A.L. Hilber and Teemu Lyytikäinen, SERC Discussion Paper No.216, June 2017

http://www.spatialeconomics.ac.uk/textonly/SERC/publications/download/sercdp0216.pdf


Related Links:
Taizhou (China) - British latest research: stamp duty into the real estate market stumbling block

CEP Urban and Spatial Programme

Christian Hilber webpage



News Posted: 10/08/2017      [Back to the Top]

Mirror

David Stevenson goes into EPIC meltdown after he's cruelly dumped from Make Or Break

Snippet: ... Behavioural expert Paul Dolan tried to remain positive as he told the camera: "They've broken up but they've got an escape plan and they can find someone better."


Related Links:
Mirror - David Stevenson goes into EPIC meltdown after he's cruelly dumped from Make Or Break

CEP Wellbeing

Paul Dolan webpage



News Posted: 10/08/2017      [Back to the Top]

Derby Telegraph

Stamp duty should be abolished to boost housing market, new report says

Co-author of the report, Professor Christian Hilber, said: “The key message of our paper is that stamp duty hampers mobility significantly’…

Related publications

‘Transfer Taxes and Household Mobility: Distortion on the Housing or Labor Market?’, Christian A.L. Hilber and Teemu Lyytikäinen, SERC Discussion Paper No.216, June 2017

http://www.spatialeconomics.ac.uk/textonly/SERC/publications/download/sercdp0216.pdf


Related Links:
Derby Telegraph - Stamp duty should be abolished to boost housing market, new report says

CEP Urban and Spatial Programme

Christian Hilber webpage



News Posted: 10/08/2017      [Back to the Top]

Bloomberg Politics

Britain’s Not-So-Sweet Options for an EU Trade Deal

What if there is no deal?

A “very, very bad outcome,” in the words of Chancellor of the Exchequer Philip Hammond. The U.K. would regain control of laws, money, immigration and ability to negotiate trade pacts. If pushed it could even slash taxes and regulations to create a Singapore-style economy focused on drawing investment. (Embracing fully free trade could increase the U.K.’s long-term gross domestic product by 4 percent, according to Patrick Minford of Cardiff Business School.) But U.K. exporters would be subject to World Trade Organization duties and multiple non-tariff barriers. A hard border with Ireland would be needed, Britain-based airlines might not be able to land on the continent and the transportation of nuclear material would be impeded. The Center for Economic Performance estimated trade would fall 40 percent over a decade and average income by 2.6 percent in the no-deal scenario.


Related Links:
Bloomberg Politics - Britain’s Not-So-Sweet Options for an EU Trade Deal

The consequences of Brexit for UK trade and living standards

CEP Growth CEP Trade

Swati Dhingra webpage

John Van reenen webpage

Gianmarco Ottaviano webpage

Thomas Sampson webpage



News Posted: 10/08/2017      [Back to the Top]

Prospect magazine

Hard or soft, Brexit will hit every British city—and pro-Leave areas will find it hardest to recover

People up and down the country can ill afford for silly season squabbles to distract us from the complexity of Brexit

…amidst the summer politicking and parties, a new report by Centre for Cities should make for sobering reading for Government ministers, particularly those pushing for a hard Brexit. The report (published in partnership with the Centre for Economic Performance at LSE) charts for the first time the likely impact of both a hard or soft Brexit on UK cities in the decade after new trade arrangements with the EU are put in place - and in both scenarios, the news isn’t good.

Related publications

‘Brexit, Trade and the Economic Impacts on UK Cities’, Naomi Clayton and Henry Overman, Centre for Cities briefing, July 2017

http://www.centreforcities.org/wp-content/uploads/2017/07/17-07-26-Brexit-trade-and-the-economic-impacts-on-UK-cities.pdf

 


Related Links:
Prospect magazine - Hard or soft, Brexit will hit every British city—and pro-Leave areas will find it hardest to recover

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 10/08/2017      [Back to the Top]

SKY News

Stamp duty causing bottleneck in housing market, report says

The tax is stopping young families from moving to a larger home, a report says, and deterring older people from downsizing.

Snippet: ...Professor Christian Hilber, who co-authored the report, said: "The key message of our paper is that stamp duty hampers mobility significantly.....

Related publications

‘Transfer Taxes and Household Mobility: Distortion on the Housing or Labor Market?’, Christian A.L. Hilber and Teemu Lyytikäinen, SERC Discussion Paper No.216, June 2017

http://www.spatialeconomics.ac.uk/textonly/SERC/publications/download/sercdp0216.pdf

'Transfer taxes and household mobility: Distortion on the housing or labor market?' Christian A.L. Hilber and Teemu Lyytikäinen Journal of Urban Economics , 2017. http://www.sciencedirect.com/science/article/pii/S0094119017300542

 

 


Related Links:
SKY News - Stamp duty causing bottleneck in housing market, report says

CEP Urban and Spatial Programme

Christian Hilber webpage



News Posted: 10/08/2017      [Back to the Top]

China Taizhou network

British latest research: stamp duty into the real estate market stumbling block

"The important message of our paper is that the taxation is significantly damaging to liquidity," said Professor Christian Hilber, co-author of the report. "" If a young family adds a filial piety, it will need to add a bedroom.

Related publications

‘Transfer Taxes and Household Mobility: Distortion on the Housing or Labor Market?’, Christian A.L. Hilber and Teemu Lyytikäinen, SERC Discussion Paper No.216, June 2017

http://www.spatialeconomics.ac.uk/textonly/SERC/publications/download/sercdp0216.pdf


Related Links:
China Taizhou network - British latest research: stamp duty into the real estate market stumbling block

CEP Urban and Spatial Programme

Christian Hilber webpage



News Posted: 09/08/2017      [Back to the Top]

Telegraph

Opinion: Stamp duty is a tax on mobility and aspiration. It should be cut substantially or abolished

A cabinet minister, who apparently wishes to remain anonymous, has told the Daily Telegraph that stamp duty must be reformed as it is exacerbating the housing crisis, stopping older homeowners from downsizing. The paper says the intervention follows a report from academics suggesting the tax reduces the rate of house moves by a third, creating a mismatch in the market. Prof Christian Hilber, of the London School of Economics, tells the paper the key message from the research is that stamp duty hampers mobility significantly. "End stamp duty and unleash the economy," demands the Telegraph in an editorial. It is a problem not just for the elderly wanting to downsize, says the Telegraph, but for families looking for a larger home. Countless families are stuck in homes that no longer meet their needs, it adds.

Related publications

‘Transfer Taxes and Household Mobility: Distortion on the Housing or Labor Market?’, Christian A.L. Hilber and Teemu Lyytikäinen, SERC Discussion Paper No.216, June 2017

http://www.spatialeconomics.ac.uk/textonly/SERC/publications/download/sercdp0216.pdf


Related Links:
Telegraph - Opinion: Stamp duty is a tax on mobility and aspiration. It should be cut substantially or abolished

CEP Urban and Spatial Programme

Christian Hilber webpage



News Posted: 09/08/2017      [Back to the Top]

Property Industry Eye

LSE academics become the latest to call for Stamp Duty to be scrapped

A study by the London School of Economics and the VATT Institute for Economic Research found Stamp Duty, or property transfer taxes, were making households less likely to move, particularly over shorter distances.

Related publications

‘Transfer Taxes and Household Mobility: Distortion on the Housing or Labor Market?’, Christian A.L. Hilber and Teemu Lyytikäinen, SERC Discussion Paper No.216, June 2017

http://www.spatialeconomics.ac.uk/textonly/SERC/publications/download/sercdp0216.pdf


Related Links:
Property Industry Eye - LSE academics become the latest to call for Stamp Duty to be scrapped

CEP Urban and Spatial Programme

Christian Hilber webpage



News Posted: 09/08/2017      [Back to the Top]

BBC News (blog/TV)

Newspaper headlines: The Papers

Snippet: ... Prof Christian Hilber, of the London School of Economics, tells the paper the key message from the research is that stamp duty hampers mobility significantly.

Related publications

‘Transfer Taxes and Household Mobility: Distortion on the Housing or Labor Market?’, Christian A.L. Hilber and Teemu Lyytikäinen, SERC Discussion Paper No.216, June 2017

http://www.spatialeconomics.ac.uk/textonly/SERC/publications/download/sercdp0216.pdf


Related Links:
BBC News (blog/TV) - Newspaper headlines: The Papers

CEP Urban and Spatial Programme

Christian Hilber webpage



News Posted: 09/08/2017      [Back to the Top]

The Sun

STAMP IT OUT Steep stamp duty is making the housing crisis WORSE because older homeowners are put off downsizing, new report claims

Snippet: ... Prof Christian Hilber, who co-authored the report, said: “The key message of our paper is that stamp duty hampers mobility significantly.

Related publications

‘Transfer Taxes and Household Mobility: Distortion on the Housing or Labor Market?’, Christian A.L. Hilber and Teemu Lyytikäinen, SERC Discussion Paper No.216, June 2017

http://www.spatialeconomics.ac.uk/textonly/SERC/publications/download/sercdp0216.pdf


Related Links:
The Sun - STAMP IT OUT Steep stamp duty is making the housing crisis WORSE because older homeowners are put off downsizing, new report claims

CEP Urban and Spatial Programme

Christian Hilber webpage



News Posted: 09/08/2017      [Back to the Top]

London Loves Business

Stamp duty exacerbating housing crisis and impacting economic growth

Snippet: ... Professor Christian Hilber, who co-authored the report told the Daily Telegraph: “The key message of our paper is that stamp duty hampers mobility significantly.

Related publications

‘Transfer Taxes and Household Mobility: Distortion on the Housing or Labor Market?’, Christian A.L. Hilber and Teemu Lyytikäinen, SERC Discussion Paper No.216, June 2017

http://www.spatialeconomics.ac.uk/textonly/SERC/publications/download/sercdp0216.pdf


Related Links:
London Loves Business - Stamp duty exacerbating housing crisis and impacting economic growth

CEP Urban and Spatial Programme

Christian Hilber webpage



News Posted: 09/08/2017      [Back to the Top]

Property118

LSE call on Chancellor to reform Stamp duty

Snippet: ... Co-author of the report, Professor Christian Hilber, said: “The key message of our paper is that stamp duty hampers mobility significantly.

Related publications

‘Transfer Taxes and Household Mobility: Distortion on the Housing or Labor Market?’, Christian A.L. Hilber and Teemu Lyytikäinen, SERC Discussion Paper No.216, June 2017

http://www.spatialeconomics.ac.uk/textonly/SERC/publications/download/sercdp0216.pdf


Related Links:
Property118 - LSE call on Chancellor to reform Stamp duty

CEP Urban and Spatial Programme

Christian Hilber webpage



News Posted: 09/08/2017      [Back to the Top]

Express

‘Draconian’ Stamp Duty will trigger HUGE house price CRASH by stopping elderly downsizing

Snippet: ... LSE Professor Christian Hilber said: "If you are a young family and you have an additional child, you'll need an additional room, but the stamp duty is discouraging this kind of move because of the additional cost and lack of available homes to move into."

Related publications

‘Transfer Taxes and Household Mobility: Distortion on the Housing or Labor Market?’, Christian A.L. Hilber and Teemu Lyytikäinen, SERC Discussion Paper No.216, June 2017

http://www.spatialeconomics.ac.uk/textonly/SERC/publications/download/sercdp0216.pdf


Related Links:
Express - ‘Draconian’ Stamp Duty will trigger HUGE house price CRASH by stopping elderly downsizing

CEP Urban and Spatial Programme

Christian Hilber webpage



News Posted: 09/08/2017      [Back to the Top]

CityAM

Stamp duty "hampers mobility" as pensioners cling onto family homes

The academic paper, published jointly by the London School of Economics and the VATT Institute for Economic Research, estimates the level of home moving would increase by 27 per cent if the levy was abolished outright.

Professor Christian Hilber, co-author of the report, said: “The key message of our paper is that stamp duty hampers mobility significantly.

Related publications

‘Transfer Taxes and Household Mobility: Distortion on the Housing or Labor Market?’, Christian A.L. Hilber and Teemu Lyytikäinen, SERC Discussion Paper No.216, June 2017

http://www.spatialeconomics.ac.uk/textonly/SERC/publications/download/sercdp0216.pdf


Related Links:
CityAM - Stamp duty "hampers mobility" as pensioners cling onto family homes

CEP Urban and Spatial Programme

Christian Hilber webpage



News Posted: 09/08/2017      [Back to the Top]

Mirror

Who are Make or Break's Stephen and Abbi? The Vegas party boy who wants to shake off his playboy image for his loyal girlfriend

Snippet: ... What was going through your mind when Paul (Paul Dolan – Happiness expert and Professor of Behavioural Science) told you what would be happening? 


Related Links:
Mirror - Who are Make or Break's Stephen and Abbi? The Vegas party boy who wants to shake off his playboy image for his loyal girlfriend

CEP Wellbeing

Paul Dolan webpage



News Posted: 09/08/2017      [Back to the Top]

OK!

Make Or Break: David Stevenson reveals the heartbreaking reason behind his quest for love as Beth Matkin relationship spirals

Snippet: ... Things went from bad to worse in Tuesday night's episode of Make Or Break as David broke down in tears once again after finding out some home truths during a task with behavioural expert Paul Dolan.


Related Links:
OK! - Make Or Break: David Stevenson reveals the heartbreaking reason behind his quest for love as Beth Matkin relationship spirals

CEP Wellbeing

Paul Dolan webpage



News Posted: 09/08/2017      [Back to the Top]

Huffington Post

Credit Crunch Anniversary: Why Pay Is A ‘Long Way’ From Recovering And How Brexit Is Making It Worse

A London School of Economics report in June showed that Britain was one of just three out of 28 countries that saw wages fall in real terms between 2007 and 2015.

The only country where wages fell more was Greece, which has suffered economic catastrophe in the years since the crisis.

 


Related Links:
Huffington Post - Credit Crunch Anniversary: Why Pay Is A ‘Long Way’ From Recovering And How Brexit Is Making It Worse

#GE2017Economists: The Research Evidence on Key Issues for Voters in the 2017 UK General Election

CEP Labour Markets

Stephen Machin webpage

Romesh Vaitilingam webpage



News Posted: 09/08/2017      [Back to the Top]

Telegraph

Opinion: Stamp duty is a tax on mobility and aspiration. It should be cut substantially or abolished

However, research from the LSE and the VATT Institute for Economic Research suggests the human cost of stamp duty is even higher. It artificially reduces the rate at which people move by nearly one-third, it says, creating a “mismatch” in the market. The tax is a problem for growing...

Related publications

‘Transfer Taxes and Household Mobility: Distortion on the Housing or Labor Market?’, Christian A.L. Hilber and Teemu Lyytikäinen, SERC Discussion Paper No.216, June 2017

http://www.spatialeconomics.ac.uk/textonly/SERC/publications/download/sercdp0216.pdf


Related Links:
Telegraph - Opinion: Stamp duty is a tax on mobility and aspiration. It should be cut substantially or abolished

CEP Urban and Spatial Programme

Christian Hilber webpage



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

Review of Environmental Economics and Policy

‘The Impacts of Environmental Regulations on Competitiveness’

Antoine Dechezleprêtre and Misato Sato, Review of Environmental Economics and Policy, Volume 11, Issue 2, July 2017


Related Links:
Review of Environmental Economics and Policy - ‘The Impacts of Environmental Regulations on Competitiveness’

CEP Growth

Antoine Dechezleprêtre webpage



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

Liberation.fr (France)

Sorti de l’UE: l’orchestre cacophonique de Londres/Exit of the EU: the cacophony orchestra of London

Theresa May on vacation, the ministers of soft and hard Brexit clash in the most perfect disorder. Economists, on the other hand, predict a decline in growth.

The government's hesitations have an impact on the economy. Time is of the essence, as uncertainty hangs over investment, warns Mark Carney, Governor of the Bank of England. Pessimistic, the institution has lowered its growth forecasts to 1.7% for 2017 and 1.6% for 2018. According to it, growth is penalized by the decline in the purchasing power of households. "The depreciation of the pound [which is worth 1.1 euro against 1.3 before the referendum] has led to an increase in inflation, which has reduced wage growth. Consumption has not yet declined, but households are saving less, "says Thomas Sampson, a professor of economics at the London School of Economics.

Related links

Thomas Sampson CEP publications webpage:  http://cep.lse.ac.uk/_new/publications/author.asp?author=sampson


Related Links:
Liberation.fr (France) - Sorti de l’UE: l’orchestre cacophonique de Londres/Exit of the EU: the cacophony orchestra of London

CEP Trade

Thomas Sampson webpage



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

Cambridge Network

Mobile telecoms consolidation means higher prices but greater investment

A new study forthcoming in the journal Economic Policy, based on a trove of data from 33 OECD countries over a 12-year period (2002-2014), finds that prices paid by consumers are higher in more concentrated markets (by an estimated average of 16.3 per cent in a four-to-three operator merger, according to the study’s model), while at the same time investment per operator increases when the number of providers is reduced (by an estimated 19.3 per cent in a four-to-three merger). The effect of such consolidation on total investment by all operators does not appear significant, but those findings are not conclusive. The authors – from Cambridge Judge Business School, Imperial College London, and the University of Leuven in Belgium – argue that regulators have so far focused hard on consumer pricing implications of mobile consolidation, while paying little attention to the impact of mergers on efficiencies and investment.  “The study says that regulators and policymakers should consider investment more seriously, and weigh more fully the trade-off between consumer pricing and operator efficiency and investment in order to reach the best decisions,” says Dr Christos Genakos, University Senior Lecturer in Economics at Cambridge Judge Business School.

 


Related Links:
Cambridge Network - Mobile telecoms consolidation means higher prices but greater investment

Evaluating Market Consolidation in Mobile Communications

CEP Growth

Christos Genakos webpage



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

The Daily Telegraph

Stamp duty exacerbating housing crisis by stopping elderly from moving, warns Cabinet minister

Snippet: ... A report from academics said stamp duty reduces the rate of home moving by nearly a third and meant that large homes were not being freed up for young, growing families.

Related publications

‘Transfer Taxes and Household Mobility: Distortion on the Housing or Labor Market?’, Christian A.L. Hilber and Teemu Lyytikäinen, SERC Discussion Paper No.216, June 2017

http://www.spatialeconomics.ac.uk/textonly/SERC/publications/download/sercdp0216.pdf


Related Links:
The Daily Telegraph - Stamp duty exacerbating housing crisis by stopping elderly from moving, warns Cabinet minister

CEP Urban and Spatial Programme

Christian Hilber webpage



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

Mirror

Make Or Break's David Stevenson breaks down in tears AGAIN after hearing shocking truths about girlfriend Beth

Snippet: ... As part of a challenge, behavioural expert Paul Dolan read out a series of shocking confessions and the contestants had to guess who they related to.


Related Links:
Mirror - Make Or Break's David Stevenson breaks down in tears AGAIN after hearing shocking truths about girlfriend Beth

CEP Wellbeing

Paul Dolan webpage



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

Higher Education Policy Institute

Measuring teaching intensity: the authors respond to the critics

In research just published in the journal Fiscal Studies, we examine teaching at UK universities in more detail than any study since the 1963 Robbins Report. We compared the teaching of Economics, History and Physics across 67 universities. We also made a historical comparison with 1963, using data drawn from the appendices to the Robbins Report prepared by Richard Layard and Claus Moser.


Related Links:
Higher Education Policy Institute - Measuring teaching intensity: the authors respond to the critics

CEP Wellbeing

Richard Layard webpage



News Posted: 07/08/2017      [Back to the Top]

The Daily Telegraph

Make or Break? is nasty TV with Love Island cast-offs laid on for sadistic voyeurs - review

The host presiding over this bedlam is someone called Paul Dolan, billed as a “behavioural scientist”, one of those odd job descriptions like horse whisperer and cat burglar. 


Related Links:
The Daily Telegraph - Make or Break? is nasty TV with Love Island cast-offs laid on for sadistic voyeurs - review

CEP Wellbeing

Paul Dolan webpage



News Posted: 07/08/2017      [Back to the Top]

Time

14 Ways to Squeeze More Joy Out of Every Day

Gold, natural gas and your attention: they’re all scarce resources. Allocate wisely so you can max out time for pleasure, recommends Paul Dolan in his book Happiness by Design. “Every tweet, text or email distracts us from the good experiences and people in our lives,” he says. 


Related Links:
Time - 14 Ways to Squeeze More Joy Out of Every Day

CEP Wellbeing

Paul Dolan webpage



News Posted: 07/08/2017      [Back to the Top]

Consultancy UK

Real pay growth to stagnate in 2017 and 2018

Private sector workers too have seen a significant drop in real term wages in recent years, with an LSE study estimating an effective 10% decrease since the financial crisis to 2015.


Related Links:
Consultancy UK - Real pay growth to stagnate in 2017 and 2018

CEP Labour Markets

Stephen Machin webpage



News Posted: 07/08/2017      [Back to the Top]

Guardian

Is it a bad idea to buy a property in London if it's not home for life?

Recent claims – made by Paul Cheshire, professor of economic geography at the London School of Economics – of an impending crash and a 40% fall in property values are “quite frankly outrageously unrealistic” according to Russell Quirk, founder and chief executive of online estate agent, eMoov.co.uk. “The reality is that the rate of house-price growth has slowed in the past few months, yet property prices remain higher than a year ago” although Quirk does concede, as do other commentators, that there is “a potential prolonged flat rate of growth” in house prices.


Related Links:
Guardian - Is it a bad idea to buy a property in London if it's not home for life?

CEP Urban and Spatial Programme

Paul Cheshire webpage



News Posted: 07/08/2017      [Back to the Top]

Metro

Love Island with more tears

Snippet: ... New Channel 5 show Make or Break puts couples through various tests - their first being to choose someone from another couple to share a bedroom with. Paul Dolan, a professor of behavioural science at the LSE who leads the show, explains…


Related Links:
CEP Wellbeing

Paul Dolan webpage



News Posted: 07/08/2017      [Back to the Top]

CityMetric

Which British cities will be hit hardest by Brexit?

A lot of my time at work is given over to worrying fitfully about two things. One is cities policy. The other is Brexit. What could be more thrilling, then, than a report which combines those two topics into a single piece of research? The answer, as it turns out, is almost anything, because this report is one of the most depressing things I’ve seen in ages. The study, a joint effort between the Centre for Cities and LSE’s Centre for Economic Performance, looks at what both “Hard” and “Soft” Brexit would do to the economies of 62 British cities. (In the unlikely event you’re unsure, “soft” Brexit means we stay in a free trade area with the EU, but have to content with new non-tariff barriers; “hard” Brexit means we have to deal with tariffs as well.)

Related publications

‘Brexit, Trade and the Economic Impacts on UK Cities’, Naomi Clayton and Henry Overman, Centre for Cities briefing, July 2017

http://www.centreforcities.org/wp-content/uploads/2017/07/17-07-26-Brexit-trade-and-the-economic-impacts-on-UK-cities.pdf


Related Links:
CityMetric - Which British cities will be hit hardest by Brexit?

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Henry Overman webpage

Stephen Machin webpage



News Posted: 07/08/2017      [Back to the Top]

Financial Times

The ‘haves and have-mores’ in digital America

Research from the Bonn-based Institute of Labor Economics shows that the differences in individual workers’ pay since the 1970s is associated with pay differences between — not within — companies. Another piece of research, from the Centre for Economic Performance, shows that this pay differential between top-tier companies and everyone else is responsible for the vast majority of inequality in the US.

Related publications

'Measuring Economic Policy Uncertainty', Scott R. Baker, Nicholas Bloom, Steven J. Davis, The Quarterly Journal of Economics, Vol 131, Issue 4, November 2016


Related Links:
Financial Times - The ‘haves and have-mores’ in digital America

Fluctuations in Uncertainty

Economic Recovery and Policy Uncertainty

Policy uncertainty: a new indicator

CEP Growth

Nick Bloom webpage

John Van reenen webpage



News Posted: 06/08/2017      [Back to the Top]

The Citizens Voice online

England's mental health experiment: free talk therapy

In 2005 David Clark, a professor of psychology at Oxford University, and economist Richard Layard, a member of the House of Lords, concluded that providing therapy to people like Oliver made economic sense. “We made the case that, just on lost work alone, the program would pay for itself,” Layard said in an interview in his office at the London School of Economics.


Related Links:
The Citizens Voice online - England's mental health experiment: free talk therapy

Cost-Benefit Analysis of Psychological Therapy

CEP Wellbeing

Richard Layard webpage



News Posted: 06/08/2017      [Back to the Top]

Wales online

Top economists have calculated the impact of a soft or hard Brexit on Swansea

Their research found that every local authority would be negatively affected under either scenario but concluded that the economic impact of leaving the single market and customs union would be around twice as severe as a milder Brexit. The academics said they were surprised that the additional cost of a hard Brexit was significantly higher in some areas than others – and cited the nature of industry and employment in those areas as the reason.

Related publications

‘Brexit, Trade and the Economic Impacts on UK Cities’, Naomi Clayton and Henry Overman, Centre for Cities briefing, July 2017

http://www.centreforcities.org/wp-content/uploads/2017/07/17-07-26-Brexit-trade-and-the-economic-impacts-on-UK-cities.pdf


Related Links:
Wales online - Top economists have calculated the impact of a soft or hard Brexit on Swansea

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 06/08/2017      [Back to the Top]

Spirit FM

West Sussex town ranked ‘second most affected' area post-Brexit

A new report by think tank Centre for Cities and the Centre for Economic Performance (CEP) predicts Worthing will be on the places hit hardest by an expected downturn in trade after the country leaves the EU.

Related publications

‘Brexit, Trade and the Economic Impacts on UK Cities’, Naomi Clayton and Henry Overman, Centre for Cities briefing, July 2017

http://www.centreforcities.org/wp-content/uploads/2017/07/17-07-26-Brexit-trade-and-the-economic-impacts-on-UK-cities.pdf


Related Links:
Spirit FM - West Sussex town ranked ‘second most affected' area post-Brexit

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 06/08/2017      [Back to the Top]

The Sunday Times

A spanner in the works for Britain's growth

Snippet: Philip Hammond has said that if every region of the UK could match the productivity of London and southeast England, there would not be a productivity problem. The London School of Economics, which recently published its Growth Commission update, is doing some good work on this....

Related publications

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

 

Related links

LSE Growth Commission webpage:  http://www.lse.ac.uk/researchAndExpertise/units/growthCommission/home.aspx


Related Links:
The Sunday Times - A spanner in the works for Britain's growth





News Posted: 06/08/2017      [Back to the Top]

Economist

A little-noticed change in Britain’s housing market spells trouble for everybody

in the last decade, the average amount of stamp duty charged per residential transaction has risen by 30% in real terms (though recent changes have lightened the load slightly for some). The need to pay thousands of pounds upfront makes upping sticks harder. According to a recent paper from Christian Hilber of the London School of Economics and Teemu Lyytikäinen of the VATT Institute for Economic Research, stamp duty reduces the rate of home-moving by about a fifth. It partly explains why home-owners in Britain move home half as frequently as they do in America, where the equivalent tax is usually less onerous.

Related publications

‘Transfer Taxes and Household Mobility: Distortion on the Housing or Labor Market?’, Christian A.L. Hilber and Teemu Lyytikäinen, SERC Discussion Paper No.216, June 2017

http://www.spatialeconomics.ac.uk/textonly/SERC/publications/download/sercdp0216.pdf


Related Links:
Economist - A little-noticed change in Britain’s housing market spells trouble for everybody

CEP Urban and Spatial Programme

Christian Hilber webpage



News Posted: 05/08/2017      [Back to the Top]

Mediapart

Marx, Piketty et Aghion sur la productivité, par Michel Husson / Marx, Piketty and Aghion on Productivity, by Michel Husson

A recent critical work on a study by Philippe Aghion [1] suggests a parallel (heroic) with Marx's considerations on innovation. This contribution, after having quickly pointed out the contradictions stated by Thomas Piketty, recalls the way in which Marx posed the question of technological progress.


Related Links:
Mediapart - Marx, Piketty et Aghion sur la productivité, par Michel Husson / Marx, Piketty and Aghion on Productivity, by Michel Husson

CEP Growth

Philippe Aghion webpage



News Posted: 05/08/2017      [Back to the Top]

The Irish Sun

The New Love Island?

Snippet: ... "I felt like I was sold the dream, but entered a nightmare^” And you may also recognise a familiar voice on the show, as it’s narrated by MasterChef’s voiceover artist India Fisher. Leading the activities of Channel 5’s new ‘Love Island’ is London School of Economics’ Professor Paul Dolan.


Related Links:
CEP Wellbeing

Paul Dolan webpage



News Posted: 05/08/2017      [Back to the Top]

Economist

A little-noticed change in Britain's housing market spells trouble for everybody

A little-noticed change in Britain’s housing market spells trouble for everybody

Snippet: ...n has risen by 30% in real terms (though recent changes have lightened the load slightly). The need to pay thousands of pounds upfront makes upping sticks harder. According to a recent paper from Christian Hilber of the London School of Economics and Teemu Lyytikäine...

Related publications

‘Transfer Taxes and Household Mobility: Distortion on the Housing or Labor Market?’, Christian A.L. Hilber and Teemu Lyytikäinen, SERC Discussion Paper No.216, June 2017

http://www.spatialeconomics.ac.uk/textonly/SERC/publications/download/sercdp0216.pdf


Related Links:
Economist - A little-noticed change in Britain's housing market spells trouble for everybody

CEP Urban and Spatial Programme

Christian Hilber webpage



News Posted: 05/08/2017      [Back to the Top]

Slough Express

Slough to be among top urban areas to feel negatie impact of Brexit, study says

New research suggests that Slough will be among the top five UK urban areas to be negatively impacted by Brexit. A report by the London School of Economics Centre for Economic Performance and think tank Centre for Cities says the South-east of England and urban areas will be hit the hardest. The paper, titled ‘The Local Economic Effects of Brexit’, assesses the impact of trade barriers associated with 'soft' and 'hard' Brexit scenarios.

Related publications

‘Brexit, Trade and the Economic Impacts on UK Cities’, Naomi Clayton and Henry Overman, Centre for Cities briefing, July 2017

http://www.centreforcities.org/wp-content/uploads/2017/07/17-07-26-Brexit-trade-and-the-economic-impacts-on-UK-cities.pdf


Related Links:
Slough Express - Slough to be among top urban areas to feel negatie impact of Brexit, study says

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 05/08/2017      [Back to the Top]

DeathRattleSports.com

William Hague: Brexit disaster can be averted thanks to Philip Hammond’s transition plan

Number 10 said on 31 July that it would be “wrong” to suggest that EU free movement to the UK would “continue as it is now” after 2019. But Home Secretary Amber Rudd has said that EU nationals will be able to continue to come to the UK during a post-March 2019 transition period so long as they go through a “registration and documentation” process. The senior Conservative has also commissioned a group of top economists, the Migration Advisory Committee (MAC), to investigate how the UK’s future immigration system “should be aligned with a modern industrial strategy”. The MAC, which is chaired by Professor Alan Manning, has been given a deadline of September 2018 to report back to Rudd.


Related Links:
DeathRattleSports.com - William Hague: Brexit disaster can be averted thanks to Philip Hammond’s transition plan

CEP Community

Alan Manning webpage



News Posted: 04/08/2017      [Back to the Top]

Laundry and Cleaning News International

TSA appeals to membership to respond to Migration Advisory Committee

MAC chairman, Professor Alan Manning, has been asked to produce interim reports to guide Home Office officials attempting to draw up a post-Brexit immigration regime that will bring an end to free movement but will not cause economic damage or vital skills shortages. 


Related Links:
Laundry and Cleaning News International - TSA appeals to membership to respond to Migration Advisory Committee

CEP Community

Alan Manning webpage



News Posted: 04/08/2017      [Back to the Top]

The Sun

Move over Love Island… Here are 10 reasons why Make or Break? is our new obsession

Snippet: ... Leading the activities is London School of Economics’ Professor of Behavioural Science Paul Dolan. He’s previously appeared on other TV shows, including Lose Weight For Love and This Morning.


Related Links:
The Sun - Move over Love Island… Here are 10 reasons why Make or Break? is our new obsession

CEP Wellbeing

Paul Dolan webpage



News Posted: 04/08/2017      [Back to the Top]

The Press and Journal (Scotland)

‘Labour created the welfare state and will always fight to protect it'

Britain’s most successful cities with large high-skilled service sectors will be hit hardest by the expected downturn in trade after the UK leaves the EU. Sadly, that means bad news for Aberdeen. A report from the think-tank Centre for Cities and the Centre for Economic Performance placed the Granite City at the top of the list of “most affected” cities.

Related publications

‘Brexit, Trade and the Economic Impacts on UK Cities’, Naomi Clayton and Henry Overman, Centre for Cities briefing, July 2017

http://www.centreforcities.org/wp-content/uploads/2017/07/17-07-26-Brexit-trade-and-the-economic-impacts-on-UK-cities.pdf


Related Links:
The Press and Journal (Scotland) - ‘Labour created the welfare state and will always fight to protect it'

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 04/08/2017      [Back to the Top]

LSE Business Review blog

Expert panel: unemployment hurts the wellbeing of men more than that of women

Researchers are divided on whether bad jobs are worse for wellbeing than unemployment, write Tony Beatton, Paul Frijters and Nattavudh (Nick) Powdthavee

Given a generally stronger social norm for men to be working in paid employment than for women, unemployment is typically worse for the wellbeing of men than women. That is the consensus finding of a survey of leading researchers on wellbeing from around the world. But the experts are divided on whether unemployment is better for an individual’s happiness than being employed in a bad job.

Link to press release:

Monday 31 July 2017

WORK AND UNEMPLOYMENT: Evidence of the impact on the wellbeing of men and women

http://cep.lse.ac.uk/textonly/_new2014/news/releases/2017_07_31_i151.pdf


Related Links:
LSE Business Review blog - Expert panel: unemployment hurts the wellbeing of men more than that of women

CEP Wellbeing

Paul Frijters webpage

Nattavudh Powdthavee webpage



News Posted: 04/08/2017      [Back to the Top]

UOL.com

Inglaterra oferece terapia gratuita para tratar depressão e ansiedade /England offers free therapy to treat depression and anxiety

… David Clark, a professor of psychology at the University of Oxford, and economist Richard Layard, a member of the House of Lords, concluded that offering therapy to people like Oliver made economic sense..


Related Links:
UOL.com - Inglaterra oferece terapia gratuita para tratar depressão e ansiedade /England offers free therapy to treat depression and anxiety

Cost-Benefit Analysis of Psychological Therapy

CEP Wellbeing

Richard Layard webpage



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

The Bulletin

England’s mental health experiment: free talk therapy

In 2005 David Clark, a professor of psychology at Oxford University, and economist Richard Layard, a member of the House of Lords, concluded that providing therapy to people like Oliver made economic sense.

“We made the case that, just on lost work alone, the program would pay for itself,” Layard said in an interview in his office at the London School of Economics.


Related Links:
The Bulletin - England’s mental health experiment: free talk therapy

Cost-Benefit Analysis of Psychological Therapy

CEP Wellbeing

Richard Layard webpage



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

Vox

Trump wants to protect American jobs. His immigration bill would make us poorer.

Basically the only American-born group that you could even plausibly argue are harmed is high school dropouts. This is a fairly tiny group, but it’s not even clear they are harmed. Research by the University of Bologna's Gianmarco Ottaviano and UC Davis's Giovanni Peri finds that immigrants help the wages of even low-skilled American workers.

Related publications

‘Rethinking The Effect Of Immigration On Wages’. Gianmarco I. P. Ottaviano, Giovanni Peri, 2011. http://onlinelibrary.wiley.com/doi/10.1111/j.1542-4774.2011.01052.x/full


Related Links:
Vox - Trump wants to protect American jobs. His immigration bill would make us poorer.

Immigration, Offshoring and American Jobs

CEP Trade

Gianmarco Ottaviano webpage



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

Somerset County Gazette

Taunton Deane economy could take a Brexit hit of 1.2% to 2.3%

BREXIT will damage the economic performance of Taunton Deane, according to new report. The Centre for Economic Performance believes the economy in the district will take a 1.2 per cent hit under a sort Brexit - that is to say if Britain remains in the single market and the customs union. But a hard Brexit - leaving the two organisations - would see the economy suffer to the tune of 2.3 per cent. Molly Scott Cato, Green MEP for the South West, said: “This new study shows that both a hard and soft form of Brexit will have a devastating impact on the economic performance of our towns and cities across the South West.

Related publications

‘Brexit, Trade and the Economic Impacts on UK Cities’, Naomi Clayton and Henry Overman, Centre for Cities briefing, July 2017

http://www.centreforcities.org/wp-content/uploads/2017/07/17-07-26-Brexit-trade-and-the-economic-impacts-on-UK-cities.pdf


Related Links:
Somerset County Gazette - Taunton Deane economy could take a Brexit hit of 1.2% to 2.3%

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



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

Heart Berkshire (Radio)

[06:00:00]

Snippet: ... Reading has come out third on a list of 10 towns in the UK most likely to be hit hardest by Brexit report of the London School of Economics says Dorsey a fall i...

Related publications

‘Brexit, Trade and the Economic Impacts on UK Cities’, Naomi Clayton and Henry Overman, Centre for Cities briefing, July 2017

http://www.centreforcities.org/wp-content/uploads/2017/07/17-07-26-Brexit-trade-and-the-economic-impacts-on-UK-cities.pdf


Related Links:
Heart Berkshire (Radio) - [06:00:00]

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



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

Harper's Bazaar (Spain)

La felicidad no depende del dinero sino del amor/ Happiness does not depend on money but on love

A survey of 200,000 people at the London School of Economics in the United Kingdom revealed that personal satisfaction is more about finding love, even having more impact than increasing salary.

Associated article

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


Related Links:
Harper's Bazaar (Spain) - La felicidad no depende del dinero sino del amor/ Happiness does not depend on money but on love

CEP Wellbeing

Andrew Clark webpage

Sarah Flèche webpage

Richard Layard webpage

Nattavudh Powdthavee webpage

George Ward webpage



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

Getreading

Reading has been named as one of the areas likely to be hit hardest by Brexit

A new report put Reading in third place of areas worst hit by a hard Brexit

A new report by the think tank Centre for Cities and the Centre for Economic Performance at the London School of Economics reveals the cities and towns most affected by a soft leaving of the European Union and a hard exit.

Professor Stephen Machin, from the Centre for Economic Performance, added: “This research shows that focusing on the likely local economic impacts of Brexit will be a critical ingredient for policymakers when thinking about how to offset the negative economic effects that loss of trade due to Brexit will bring.”

Related publications

‘Brexit, Trade and the Economic Impacts on UK Cities’, Naomi Clayton and Henry Overman, Centre for Cities briefing, July 2017

http://www.centreforcities.org/wp-content/uploads/2017/07/17-07-26-Brexit-trade-and-the-economic-impacts-on-UK-cities.pdf


Related Links:
Getreading - Reading has been named as one of the areas likely to be hit hardest by Brexit

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



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

FXdailyreport

The Past, Present, and Future of Brexit

Snippet: Many journalists have said the floodgates are now open for a lot of other countries to try and exit the EU including a big country like Spain. John Van Reenen of the London School of Economics called Brexit “a drumbeat of anti-foreigner sentiment. The only question is which other countries will now be swept along in this poisonous flood.”


Related Links:
FXdailyreport - The Past, Present, and Future of Brexit

CEP Growth

John Van reenen webpage



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

LSEIQ podcast

Episode 2 | What's the future of work?

Tackling the question, ‘What’s the future of work’, are: Professor David Graeber of LSE’s Department of Anthropology; Dr Aleks Krotoski, social psychologist, technology journalist and former visiting fellow in LSE’s Media and Communications Department ; Dr Guy Michaels, LSE Associate Professor of Economics; and Leslie Willcocks , Professor of Technology, Work and Globalisation at LSE. 


Related Links:
LSEIQ podcast - Episode 2 | What's the future of work?

Robots at work: the impact on productivity and jobs

Robots at work: the impact on productivity and jobs

CEP Labour Markets

Georg Graetz webpage

Guy Michaels webpage



News Posted: 01/08/2017      [Back to the Top]

The Pie News

UK Home Secretary calls for report on EU migration

The UK’s Home Secretary Amber Rudd has commissioned a report on the impact Brexit will have on the UK labour market. A key sector for enquiry will be higher education, where 17% of academic staff are EU nationals and a further 12,490 of EU staff are in non-academic positions. Despite the 2018 deadline, Rudd has requested interim reports, and MAC chair Alan Manning said the committee will “consider the possibility of producing interim responses”.


Related Links:
The Pie News - UK Home Secretary calls for report on EU migration

CEP Community

Alan Manning webpage



News Posted: 01/08/2017      [Back to the Top]

This is Wiltshire

Business leaders optimistic despite shock statistics that put Swindon among hardest hit by Brexit

The authors of the report, Naomi Clayton and Professor Henry Overman of the LSE’s Centre For Economic Performance, said: “All British cities are set to be negatively affected as a result of higher trade costs between the UK and EU, and this impact will be greater in the scenario of a ‘hard’ Brexit.”

Related publications

‘Brexit, Trade and the Economic Impacts on UK Cities’, Naomi Clayton and Henry Overman, Centre for Cities briefing, July 2017

http://www.centreforcities.org/wp-content/uploads/2017/07/17-07-26-Brexit-trade-and-the-economic-impacts-on-UK-cities.pdf


Related Links:
This is Wiltshire - Business leaders optimistic despite shock statistics that put Swindon among hardest hit by Brexit

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 01/08/2017      [Back to the Top]

Robotiq

5 shocking statistics from manufacturers who turned to robotics

Research done by Graetz and Michaels has shown that robots are contributing to historic production growth since their entrance into the manufacturing industries. Overall, it shows that between 1993 and 2007, robots accounted for 16% of labor productivity. While IT tech has been leading the world in labor productivity, robotics are a close second, and already ahead of the steam engine, which revolutionized manufacturing in the 19th and early 20th centuries.


Related Links:
Robotiq - 5 shocking statistics from manufacturers who turned to robotics

Robots at work: the impact on productivity and jobs

Robots at Work

CEP Labour Markets

Georg Graetz webpage

Guy Michaels webpage



News Posted: 31/07/2017      [Back to the Top]

The Daily Telegraph

Only health more important than happiness

Snippet: ... MORE should be done to promote health and well-being rather than worrying excessively about wages and careers, Prof Paul Dolan, a specialist in behavioural science at the London School of Economics, has said.

[No link]


Related Links:
CEP Wellbeing

Paul Dolan webpage



News Posted: 31/07/2017      [Back to the Top]

Zdravie.Pravda (Slovakia)

Bezplatná terapia cez telefón. Britský experiment funguje/ Free phone therapy. The British experiment works

The British health experiment began in 2008. In the first wave, 35 clinics were created with a total of thousands of workers, but the system was immediately overwhelmed by huge floods of interest. Now a project with a much higher budget is working, and the UK government's goal is to cover the entire territory of the United Kingdom.

Richard Layard of the London School of Economics, however, says that the project can earn itself, thanks to the greater work performance of cured people. "If someone has a broken leg, he will get immediate help. But if it has a broken soul, it's not so much, "he said. The Czech Republic is also planning to transfer mental health care from hospitals to special centers and home environments.

Also in

El Periodico de Mexico

Un experimento mental único: psicoterapia gratuita / A unique mental experiment: free psychotherapy

….David Clark, a professor of psychology at the University of Oxford, and economist Richard Layard, a member of the House of Lords, came to the conclusion that offering therapy to people like Oliver was most logical in economic terms.

http://elperiodicodemexico.com/nota.php?id=863158


Related Links:
Zdravie.Pravda (Slovakia) - Bezplatná terapia cez telefón. Britský experiment funguje/ Free phone therapy. The British experiment works

CEP Wellbeing

Richard Layard webpage



News Posted: 31/07/2017      [Back to the Top]

International Business Times

What Number 10 really said about ending free movement from the EU

…Rudd has commissioned a group of top economists, the Migration Advisory Committee (MAC), to investigate how the UK's future immigration system "should be aligned with a modern industrial strategy".

The MAC, which is chaired by Professor Alan Manning, has been given a deadline of September 2018 to report back to Rudd.


Related Links:
International Business Times - What Number 10 really said about ending free movement from the EU

CEP Community

Alan Manning webpage



News Posted: 31/07/2017      [Back to the Top]

Swindon Advertiser

Business leaders optimistic despite shock statistics that put Swindon among hardest hit by Brexit

The London School of Economics has published an analysis of the possible effects of a ‘hard’ and ‘soft’ Brexit on towns and cities all over the country.

The report predicts that Swindon’s GVA will decline by 2.8 per cent under a hard Brexit and 1.5 per cent under a soft Brexit.

The authors of the report, Naomi Clayton and Professor Henry Overman of the LSE’s Centre For Economic Performance, said: “All British cities are set to be negatively affected as a result of higher trade costs between the UK and EU, and this impact will be greater in the scenario of a ‘hard’ Brexit.”

But Ian Larrard, the director of the Swindon and Wiltshire Initiative at Business West, shrugged off the findings and said there was good reason to be optimistic.

Related publications

‘Brexit, Trade and the Economic Impacts on UK Cities’, Naomi Clayton and Henry Overman, Centre for Cities briefing, July 2017

http://www.centreforcities.org/wp-content/uploads/2017/07/17-07-26-Brexit-trade-and-the-economic-impacts-on-UK-cities.pdf


Related Links:
Swindon Advertiser - Business leaders optimistic despite shock statistics that put Swindon among hardest hit by Brexit

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 31/07/2017      [Back to the Top]

The Economist

America's uncompetitive markets harm its economy

New research suggests that too little competition deters investment

Concentration may also hurt workers. Recent research by David Autor of MIT and four co-authors finds that “superstar” firms pay out less of their profits in wages. As these firms have grown in importance, labour’s overall share of GDP has fallen. Other research suggests that these firms nonetheless pay more, in gross terms, than ordinary firms, so their rise has directly contributed to inequality. This does not chime exactly with what Democrats claimed this week—that America’s firms have too much power over workers—but the end result, greater inequality, is similar.

 


Related Links:
The Economist - America's uncompetitive markets harm its economy

The Fall of the Labor Share and the Rise of Superstar Firms

CEP Growth

John Van reenen webpage



News Posted: 31/07/2017      [Back to the Top]

Clarin.com

Depression and anxiety, in the sights of an ambitious English project

In 2005, David Clark, a professor of psychology at the University of Oxford, and economist Richard Layard, a member of the House of Lords, came to the conclusion that it made economic sense to provide therapeutic treatment to people like Oliver. "We argued that, just in terms of job loss, the program would pay for itself," said Dr. Layard in his London School of Economics.


Related Links:
Clarin.com - Depression and anxiety, in the sights of an ambitious English project

CEP Wellbeing

Richard Layard webpage



News Posted: 30/07/2017      [Back to the Top]

Valenciaplaza

el peor de los tiempos OPINIÓN Sectarismo, género y números / the worst of times OPINION - Sectarianism, gender and numbers

snippet… As can be seen, at the end of all this we have fallen into the trap, after accounting for the number of men and women.  Is this relevant when it comes to funding an international scientific meeting, with a tradition of 20 editions and attracting 200 researchers from 64 different institutions and from more than 30 countries?  There is no point in evaluating the work anonymously, nor that invited speakers are prestigious figures in International Economics like Gianmarco Ottaviano , professor at the London School of Economics, probably the most important university in Europe in Economics…


Related Links:
Valenciaplaza - el peor de los tiempos OPINIÓN Sectarismo, género y números / the worst of times OPINION - Sectarianism, gender and numbers

CEP Trade

Gianmarco Ottaviano webpage



News Posted: 30/07/2017      [Back to the Top]

The Columbus Despatch

Burgeoning talk-therapy program free for all in England

LONDON — England is in the midst of a unique national experiment, the world’s most ambitious effort to treat depression, anxiety and other common mental illnesses.

…In 2005 David Clark, a professor of psychology at Oxford University, and economist Richard Layard, a member of the House of Lords, concluded that providing therapy to people like Oliver made economic sense.

″We made the case that, just on lost work alone, the program would pay for itself,″ Layard said in an interview in his office at the London School of Economics.

Also in

Siglo.21 (Guatemala)

La paz y la felicidad… ¿se puede? / Peace and happiness ... can you?

Economist Richard Layard of the London School of Economics said that although in recent decades we have doubled our economic levels, many surveys show that we are no happier than our predecessors, although we now have more means to know what provides happiness to the people. And he pointed out that it is not necessarily money that provides greater happiness; And that family-founded in marriage, the one of always, since creation-constantly appears as an element that increases happiness. http://s21.gt/2017/07/29/la-paz-la-felicidad-se-puede/

 

Clarin Sociedad (Argentina)
Depresión y ansiedad, en la mira de un ambicioso proyecto inglés /Depression and anxiety, in the sights of an ambitious English project

In 2005, David Clark, a professor of psychology at the University of Oxford, and economist Richard Layard, a member of the House of Lords, came to the conclusion that it made economic sense to provide therapeutic treatment to people like Oliver. "We argued that, just in terms of job loss, the program would pay for itself," said Dr. Layard in his London School of Economics. https://www.clarin.com/sociedad/depresion-ansiedad-mira-ambicioso-proyecto-ingles_0_ByqqnY5LZ.html


Related Links:
The Columbus Despatch - Burgeoning talk-therapy program free for all in England

CEP Wellbeing

Richard Layard webpage



News Posted: 30/07/2017      [Back to the Top]

Gazette Live

Hard or soft Brexit? This is what experts think the impact could be on Middlesbrough either way

Middlesbrough has been singled out as one of the places which could be hardest hit by Brexit.

As the debate over the terms of the UK’s exit of the European Union continue to be debated, the potential impact on regional economies have been analysed by a think tank.

Centre for Cities and the Centre for Economic Performance (CEP) at London School of Economics said wealthy Southern cities will be hit hardest by both a ‘soft’ or ‘hard’ Brexit - but are also best placed to adapt to economic shocks ahead.

                  Related publications

‘Brexit, Trade and the Economic Impacts on UK Cities’, Naomi Clayton and Henry Overman, Centre for Cities briefing, July 2017

http://www.centreforcities.org/wp-content/uploads/2017/07/17-07-26-Brexit-trade-and-the-economic-impacts-on-UK-cities.pdf


Related Links:
Gazette Live - Hard or soft Brexit? This is what experts think the impact could be on Middlesbrough either way

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 30/07/2017      [Back to the Top]

Appsforpcdaily.com

Brexit transition deal will end by 2022, says Philip Hammond

In findings released by think tank Centre for Cities and the Centre for Economic Performance (CEP) at the London School of Economics, the potential impact of either Brexit "type" on major cities in the United Kingdom was analysed for the first time.


Related Links:
Appsforpcdaily.com - Brexit transition deal will end by 2022, says Philip Hammond

The Local Economic Effects of Brexit

CEP Trade CEP Urban and Spatial Programme CEP Labour Markets

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 29/07/2017      [Back to the Top]

Mail online

Dr Max talks depression and BBC's Panorama programme

A horrifying study by the London School of Economics a few years ago showed that while mental illness accounts for nearly half of all ill health in the under-65s, only 25 per cent of those in need of treatment get it.

Related publications

‘The Depression Report: A New Deal for Depression and Anxiety Disorders’, The Centre for Economic Performance’s Mental Health Policy Group, June 2006

http://cep.lse.ac.uk/textonly/research/mentalhealth/DEPRESSION_REPORT_LAYARD.pdf


Related Links:
Mail online - Dr Max talks depression and BBC's Panorama programme

How Mental Illness Loses Out in the NHS A report by The Centre for Economic Performance's Mental Health Policy Group

CEP Wellbeing

Richard Layard webpage



News Posted: 29/07/2017      [Back to the Top]

The Journal (Newcastle)

Brexit recovery harder for North East – study

…Centre for Cities and the Centre for Economic Performance (CEP) at the London…

Related publications

‘Brexit, Trade and the Economic Impacts on UK Cities’, Naomi Clayton and Henry Overman, Centre for Cities briefing, July 2017

http://www.centreforcities.org/wp-content/uploads/2017/07/17-07-26-Brexit-trade-and-the-economic-impacts-on-UK-cities.pdf


Related Links:
The Journal (Newcastle) - Brexit recovery harder for North East – study

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 29/07/2017      [Back to the Top]

Guardian

Aberdeen to be worst hit by Brexit but all British cities will suffer

New research examining for the first time the potential impact of Brexit on cities and towns has found Aberdeen could be the hardest hit by higher trade costs with the European Union, though no British city will escape its effects.


Related Links:
The Local Economic Effects of Brexit

CEP Urban and Spatial Programme CEP Labour Markets CEP Trade

Henry Overman webpage

Swati Dhingra webpage

Stephen Machin webpage



News Posted: 28/07/2017      [Back to the Top]

LSE British Politics and Policy blog

The UK areas that will be hit most (and least) by Brexit

Article by Henry Overman: The LSE’s Centre for Economic Performance (working with the Centre for Cities think tank) has carried out a study shedding light upon the local economic impact of Brexit. Henry G. Overman writes that it is the richer cities, predominantly in the south of England, that will be hit hardest by Brexit, with this effect particularly apparent in areas specialised in services.


Related Links:
LSE British Politics and Policy blog - The UK areas that will be hit most (and least) by Brexit

The Local Economic Effects of Brexit

CEP Urban and Spatial Programme CEP Trade CEP Labour Markets

Henry Overman webpage

Swati Dhingra webpage

Stephen Machin webpage



News Posted: 28/07/2017      [Back to the Top]

LSE Business Review blog

How the rise of the service sector boosted the demand for women workers

The historical growth in the service sector has created jobs for which women have a natural comparative advantage, write Rachel Ngai and Barbara Petrongolo

..There has been a vast amount of research on the causes and consequences of the rise in women’s involvement in the labour market. Proposed explanations include growing investment in human capital, medical advances, technological progress in the household, wider availability of child care, and evolving gender norms. Our research puts forward a new and complementary explanation based on the rise of the service economy and its role in boosting the demand for female work.

Related publications

‘Gender Gaps and the Rise of the Service Economy’, L. Rachel Ngai and Barbara Petrongolo. American Economic Journal, forthcoming https://www.aeaweb.org/articles?id=10.1257/mac.20150253


Related Links:
LSE Business Review blog - How the rise of the service sector boosted the demand for women workers

Gender Gaps and the Rise of the Service Economy

CEP Labour Markets

Barbara Petrongolo webpage



News Posted: 28/07/2017      [Back to the Top]

Mortgage Strategy

Fill the information void for FTBs, writes Bamford

To the outsider (that is, the consumer), the property market is issuing mixed messages. In fact these are simply differences of opinion.

Take, for instance, Professor Paul Cheshire at the London School of Economics, who recently made headlines by suggesting not only that house prices were due to collapse but that the drop could be as much as 40 per cent.


Related Links:
Mortgage Strategy - Fill the information void for FTBs, writes Bamford

CEP Urban and Spatial Programme

Paul Cheshire webpage



News Posted: 28/07/2017      [Back to the Top]

Get Surrey

How much of Surrey's land is taken up by fairways and putting greens

Woking has the highest density of golf courses of anywhere in the UK at more than 10%

According to The Guardian , Surrey has more land for golf courses than homes thanks to planning policies that ensure the land stays cheap for the courses and prevents housing competing.

Quoting Paul Cheshire, professor emeritus of economic geography at LSE who produced the set of data, the article adds that around 2.65% of Surrey is now under golf courses.


Related Links:
Get Surrey - How much of Surrey's land is taken up by fairways and putting greens

CEP Urban and Spatial Programme

Paul Cheshire webpage



News Posted: 28/07/2017      [Back to the Top]

City AM

These are the six UK cities that will suffer most from a 'hard' Brexit

The study by the Centre for Cities and the Centre for Economic performance at the London School of Economics found that cities with large high-skilled service sectors, such as business and financial services, are expected to be worst hit by potential tariff changes.

"This research shows that focusing on the likely local economic impacts of Brexit will be a critical ingredient for policymakers when thinking about how to offset the negative economic effects that loss of trade due to Brexit will bring," said Stephen Machin, from the Centre for Economic Performance.

Related publications

‘Brexit, Trade and the Economic Impacts on UK Cities’, Naomi Clayton and Henry Overman, Centre for Cities briefing, July 2017

http://www.centreforcities.org/wp-content/uploads/2017/07/17-07-26-Brexit-trade-and-the-economic-impacts-on-UK-cities.pdf


Related Links:
City AM - These are the six UK cities that will suffer most from a 'hard' Brexit

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 28/07/2017      [Back to the Top]

Click Lancashire

Aberdeen will be hit hardest by Brexit deals

Smaller cities Crawley and Barnsley are predicted to have the lowest downturn in economic output of either a "hard" or "soft" Brexit, alongside cities like Hull and Wakefield. A new report today named Aberdeen as the United Kingdom city predicted to be the worst-hit by a so-called hard Brexit.

 

Related publications

‘Brexit, Trade and the Economic Impacts on UK Cities’, Naomi Clayton and Henry Overman, Centre for Cities briefing, July 2017

http://www.centreforcities.org/wp-content/uploads/2017/07/17-07-26-Brexit-trade-and-the-economic-impacts-on-UK-cities.pdf


Related Links:
Click Lancashire - Aberdeen will be hit hardest by Brexit deals

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 28/07/2017      [Back to the Top]

Newburgh Gazette (Illinois, USA)

Aberdeen and Edinburgh ‘to be hit hardest by Brexit'

Aberdeen and Edinburgh are the cities set to take the biggest financial hit when the United Kingdom leaves the European Union, according to a think tank that predicts a downturn in trade even if ministers strike a “soft Brexit” deal. A new report from the Centre for Cities and the Centre for Economic Performance at the London School of Economics, said all cities would see a fall in output due to increasing trade costs. Cities such as London, Aberdeen and Edinburgh voted against Brexit in last June’s referendum, the report pointed out.

Related publications

‘Brexit, Trade and the Economic Impacts on UK Cities’, Naomi Clayton and Henry Overman, Centre for Cities briefing, July 2017

http://www.centreforcities.org/wp-content/uploads/2017/07/17-07-26-Brexit-trade-and-the-economic-impacts-on-UK-cities.pdf


Related Links:
Newburgh Gazette (Illinois, USA) - Aberdeen and Edinburgh ‘to be hit hardest by Brexit'

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 28/07/2017      [Back to the Top]

Energy Voice

Brexit's impact on Aberdeen ‘not as bad as thought', minister says

The impact of Brexit on Aberdeen’s economy will not be as bad as predicted, according to junior Brexit minister Robin Walker. Mr Walker was responding to a bombshell report from the Centre for Cities, whose analysis showed the Granite City’s economy would take the hardest hit in the UK from leaving the EU. The Conservative will visit Aberdeen today to meet oil and gas bosses as well as fishermen and listen to their views on negotiations with the EU.

Related publications

‘Brexit, Trade and the Economic Impacts on UK Cities’, Naomi Clayton and Henry Overman, Centre for Cities briefing, July 2017

http://www.centreforcities.org/wp-content/uploads/2017/07/17-07-26-Brexit-trade-and-the-economic-impacts-on-UK-cities.pdf


Related Links:
Energy Voice - Brexit's impact on Aberdeen ‘not as bad as thought', minister says

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 28/07/2017      [Back to the Top]

The National (Scotland)

Gordon MacIntyre-Kemp: Scotland WILL bear the brunt of Brexit recession

…Evidence again that any form of Brexit will do more damage to Scotland’s farming sector than it will to the UK as a whole. At least the city economies will be OK though? Not a chance. The report from the Centre for Cities and the Centre for Economic Performance at the London School of Economics, has predicted Aberdeen to suffer the most economic damage of all UK cities from Brexit and placed Edinburgh 6th on the hit list.

Related publications

‘Brexit, Trade and the Economic Impacts on UK Cities’, Naomi Clayton and Henry Overman, Centre for Cities briefing, July 2017

http://www.centreforcities.org/wp-content/uploads/2017/07/17-07-26-Brexit-trade-and-the-economic-impacts-on-UK-cities.pdf


Related Links:
The National (Scotland) - Gordon MacIntyre-Kemp: Scotland WILL bear the brunt of Brexit recession

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 28/07/2017      [Back to the Top]

Aberdeen Evening Express

Aberdeen's politicians and businesses remain upbeat despite prediction City will suffer most from Brexit

Aberdeen can rise to the challenge of finding news ways to boost the economy, politicians and industry leaders said today. The confident comments come despite a report yesterday that predicts Brexit will hit Aberdeen’s economy the hardest of any UK city. Written by the Centre for Cities and the Centre for Economic Performance at the London School Economics, the report predicts Aberdeen’s economic output will shrink by up to 3.7%. Centre for Cities chief executive Andrew Carter said: “The challenge for Aberdeen will be to diversify its industrial structure in the years ahead, so that it is less reliant on one sector (oil and gas). “This will be crucial for the city to thrive after we leave the EU.” Aberdeen City Council leader, Cllr Jenny Laing, admitted there were “huge challenges” ahead, but said positive strides are being taken.

Related publications

‘Brexit, Trade and the Economic Impacts on UK Cities’, Naomi Clayton and Henry Overman, Centre for Cities briefing, July 2017

http://www.centreforcities.org/wp-content/uploads/2017/07/17-07-26-Brexit-trade-and-the-economic-impacts-on-UK-cities.pdf


Related Links:
Aberdeen Evening Express - Aberdeen's politicians and businesses remain upbeat despite prediction City will suffer most from Brexit

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 28/07/2017      [Back to the Top]

Shropshire Star

Telford less likely to be hit by hard Brexit than other UK towns and cities

Telford will be among the UK towns least-affected by a hard Brexit, a report claims – although economists today denied its suggestion that a lack of skills in the town will cushion the blow.

Researchers at the think tank Centre for Cities and the Centre for Economic Performance at the London School of Economics published the report into the effect of Brexit on local economies.

In it, the think tank claims areas with greater skills bases will also be those that are hit the hardest by withdrawing from access to the European single market.

Related publications

‘Brexit, Trade and the Economic Impacts on UK Cities’, Naomi Clayton and Henry Overman, Centre for Cities briefing, July 2017

http://www.centreforcities.org/wp-content/uploads/2017/07/17-07-26-Brexit-trade-and-the-economic-impacts-on-UK-cities.pdf


Related Links:
Shropshire Star - Telford less likely to be hit by hard Brexit than other UK towns and cities

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 28/07/2017      [Back to the Top]

Chronicle Live

All areas of North East will be hit by Brexit, new study shows

All areas of the North East would be hit by Brexit and may take longer to recover than other parts of the country, a new study says. The study by the Centre for Cities and the Centre for Economic Performance (CEP) at the London School of Economics predicts that economic output in the North East would be between 1.1% and 1.4% lower in the event of a “soft” brexit , but this would almost double to 2%-2.6% if the Government opts for a “hard” Brexit.

Related publications

‘Brexit, Trade and the Economic Impacts on UK Cities’, Naomi Clayton and Henry Overman, Centre for Cities briefing, July 2017

http://www.centreforcities.org/wp-content/uploads/2017/07/17-07-26-Brexit-trade-and-the-economic-impacts-on-UK-cities.pdf


Related Links:
Chronicle Live - All areas of North East will be hit by Brexit, new study shows

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 28/07/2017      [Back to the Top]

Business Insider UK

The 6 UK cities that will suffer most from a ‘hard' Brexit

Wealthy Southern cities are predicted to be hardest hit by Brexit, according to a new report. The study, by the Centre for Cities and the Centre for Economic Performance at the London School of Economics, found that cities with large high-skilled service sectors, such as business and financial services, are expected to be worst hit by potential tariff changes.

Related publications

‘Brexit, Trade and the Economic Impacts on UK Cities’, Naomi Clayton and Henry Overman, Centre for Cities briefing, July 2017

http://www.centreforcities.org/wp-content/uploads/2017/07/17-07-26-Brexit-trade-and-the-economic-impacts-on-UK-cities.pdf


Related Links:
Business Insider UK - The 6 UK cities that will suffer most from a ‘hard' Brexit

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 28/07/2017      [Back to the Top]

Blackpool Gazette

Resort named in Brexit hit list

A think tank analysed the potential impact of both a “hard” and “soft” Brexit on British cities in the 10 years following the implementation of new trade arrangements with the EU. It is the most prosperous UK cities which will be hit hardest by the downturn ahead, but poorer places across the North and Midlands will find it tougher to adapt.

Related publications

‘Brexit, Trade and the Economic Impacts on UK Cities’, Naomi Clayton and Henry Overman, Centre for Cities briefing, July 2017

http://www.centreforcities.org/wp-content/uploads/2017/07/17-07-26-Brexit-trade-and-the-economic-impacts-on-UK-cities.pdf


Related Links:
Blackpool Gazette - Resort named in Brexit hit list

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 28/07/2017      [Back to the Top]

Sputnik (Romania)

EU citizens will have the right to work in the UK after Brexit – under certain conditions

She [Amber Rudd] told committee chairman, Professor Alan Manning, that during the transition period a “simple system for registering and documenting new arrivals” will be in place.


Related Links:
Sputnik (Romania) - EU citizens will have the right to work in the UK after Brexit – under certain conditions

CEP Community

Alan Manning webpage



News Posted: 28/07/2017      [Back to the Top]

International Business Times

Eurosceptics plot mass leaflet drive to stop Tony Blair ‘hijacking' Brexit

Elsewhere, the UK government announced on Thursday that it has commissioned a group of top economists to investigate the financial benefits of migration from the EU. The independent Migration Advisory Committee (MAC), chaired by Professor Alan Manning, will make a "detailed assessment" of the issue as the two-year-long Brexit negotiations between the UK and the EU continue. "This is an important and extensive commission and the MAC welcome the opportunity to contribute to the UK's knowledge base in this area at this critical time," Manning said.

 


Related Links:
International Business Times - Eurosceptics plot mass leaflet drive to stop Tony Blair ‘hijacking' Brexit

Academy schools and pupil outcomes

CEP Community

Alan Manning webpage



News Posted: 28/07/2017      [Back to the Top]

Times Educational Supplement - TES

More autonomy turned out to be mere rhetoric

The rise of academies promised more power for schools - but, with government still clinging to the reins, heads haven't been able to raise standards as expected. However, this system may yet deliver - if ministers ring the changes, writes James Croft.

The Academies Act of 2010 purported to take school autonomy to a new level. The jury is still out on whether this could make a difference for pupil outcomes, but doubts have, justifiably, begun to emerge. While there is evidence of a positive impact in pre-2010 sponsored academies, recent research from the London School of Economics finds no trace of post-conversion improvement in previously "good", "satisfactory" or "inadequate" converters, as well as a concerning degree of heterogeneity.


Related Links:
Times Educational Supplement - TES - More autonomy turned out to be mere rhetoric

Academy schools and pupil outcomes

Academies 2: The New Batch

CEP Education and Skills

Andrew Eyles webpage

Stephen Machin webpage

Olmo Silva webpage



News Posted: 28/07/2017      [Back to the Top]

Guardian

Aberdeen to be worst hit by Brexit but all British cities will suffer


Related Links:




News Posted: 27/07/2017      [Back to the Top]

Guardian

Aberdeen to be worst hit by Brexit but all British cities will suffer - report


Related Links:




News Posted: 27/07/2017      [Back to the Top]

Economia

How businesses can seek sustainable growth


Related Links:
Economia - How businesses can seek sustainable growth

CEP Growth

Anna Valero webpage



News Posted: 27/07/2017      [Back to the Top]

The Herald (Scotland)

Scottish cities to pay highest price for Brexit


Related Links:
The Herald (Scotland) - Scottish cities to pay highest price for Brexit

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 27/07/2017      [Back to the Top]

The National

Britain to ask committee to assess impact of migration from EU


Related Links:
The National - Britain to ask committee to assess impact of migration from EU

CEP Community

Alan Manning webpage



News Posted: 27/07/2017      [Back to the Top]

Sputnik News

UK Business Sectors That will suffer the most if EU migration is restricted


Related Links:
Sputnik News - UK Business Sectors That will suffer the most if EU migration is restricted





News Posted: 27/07/2017      [Back to the Top]

Yorkshire Evening Post

'Leeds could be among hardest-hit by Brexit'


Related Links:
Yorkshire Evening Post - 'Leeds could be among hardest-hit by Brexit'

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 27/07/2017      [Back to the Top]

Vox

New road infrastructure: The effects on firms


Related Links:
Vox - New road infrastructure: The effects on firms

CEP Urban and Spatial Programme

Steve Gibbons webpage

Henry Overman webpage

Rosa Sanchis-guarner webpage



News Posted: 27/07/2017      [Back to the Top]

nrc.nl

Willen de Tories migranten nog toelaten? / Will the Tories still allow migrants?


Related Links:
nrc.nl - Willen de Tories migranten nog toelaten? / Will the Tories still allow migrants?

CEP Community

Alan Manning webpage



News Posted: 27/07/2017      [Back to the Top]

Bez (Spain)

Sin impulsos públicos en I+D, este capitalismo nos condena a la barbarie /Without public impulses in R and D, this capitalism condemns us to barbarism


Related Links:
Bez (Spain) - Sin impulsos públicos en I+D, este capitalismo nos condena a la barbarie /Without public impulses in R and D, this capitalism condemns us to barbarism





News Posted: 27/07/2017      [Back to the Top]

The Telegraph

Brexit EU migration study examines if British workers are at a disadvantage to foreign labour


Related Links:
The Telegraph - Brexit EU migration study examines if British workers are at a disadvantage to foreign labour

CEP Community

Alan Manning webpage



News Posted: 27/07/2017      [Back to the Top]

BBC Radio 4

(17:10:06)


Related Links:
CEP Labour Markets

Jonathan Wadsworth webpage



News Posted: 27/07/2017      [Back to the Top]

Tyden.cz (Czechoslovakia)

Bezplatná terapie po telefonu: britský experiment zatím funguje/Free therapy by phone: British experiment yet works


Related Links:
Tyden.cz (Czechoslovakia) - Bezplatná terapie po telefonu: britský experiment zatím funguje/Free therapy by phone: British experiment yet works





News Posted: 27/07/2017      [Back to the Top]

El Periodico de Mexico

Reino unido elaborara un informe sobre el impacto de la inmigracion europea en el pais/United Kingdom will produce a report on the impact of European immigration in the country


Related Links:
El Periodico de Mexico - Reino unido elaborara un informe sobre el impacto de la inmigracion europea en el pais/United Kingdom will produce a report on the impact of European immigration in the country

CEP Community

Alan Manning webpage



News Posted: 27/07/2017      [Back to the Top]

Newstalk.com (Ireland)

UK orders study looking at impact of ending free EU movement

A major study has been ordered by the British government to look at the economic impact of ending free movement of EU workers.

The UK Home Secretary, Amber Rudd, wants to know whether some parts of Britain will be affected more than others, whether there will be skills shortages and the impact on seasonal jobs. The study will be carried out by the UK's Migration Advisory Committee, a quango that advises the government there on immigration issues. It is set to report by September next year. In a letter to the committee's chairman, Professor Alan Manning, Ms Rudd said the government continues "working towards the goal of achieving sustainable levels of net migration".


Related Links:
Newstalk.com (Ireland) - UK orders study looking at impact of ending free EU movement

CEP Community

Alan Manning webpage



News Posted: 27/07/2017      [Back to the Top]

Mirror online

Tories mocked for deciding to ask experts about EU migration… a year after the referendum

The Migration Advisory Committee will embark on a major study into the role of 3.2million EU nationals in Britain's economy and society. Its "extremely important" work will look at patterns of migration from Europe, regional distribution, skill levels and seasonal workers. But it will only report back in September 2018 - just six months before the deadline for Brexit on 29 March 2019. And its chairman played down Tory claims it would produce interim reports in the meantime. Professor Alan Manning said only that his committee will "consider the possibility" of doing so.


Related Links:
Mirror online - Tories mocked for deciding to ask experts about EU migration… a year after the referendum

CEP Community

Alan Manning webpage



News Posted: 27/07/2017      [Back to the Top]

Sky News online

Businesses clamour for clarity from ‘long overdue' migration study

Companies have been clamouring for clarity from the Government on the issue as the academic sector, agriculture, manufacturing and the hospitality trade all rely on large influxes of people to operate. The Confederation of British Industry says employers "urgently" need answers while the Institute of Directors calls the report "long overdue". Consider the timescale: the Migration Advisory Committee (MAC) is made up of one chairman (Professor Alan Manning from the London School of Economics) and three independent economists who now have to commission data and solicit responses from industry and Government.


Related Links:
Sky News online - Businesses clamour for clarity from ‘long overdue' migration study

CEP Community

Alan Manning webpage



News Posted: 27/07/2017      [Back to the Top]

Public Sector Executive

Economy and infrastructure

All cities in the UK are looking set to see a fall in economic output regardless of whether a ‘hard’ or ‘soft’ Brexit is delivered, experts have today warned – but more prosperous regions will be hit harder than others. In findings released by think tank Centre for Cities and the Centre for Economic Performance (CEP) at the London School of Economics, the potential impact of either Brexit ‘type’ on major cities in the UK was analysed for the first time.


Related Links:
Public Sector Executive - Economy and infrastructure

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 27/07/2017      [Back to the Top]

STV online

News: Aberdeen ‘will be UK city worst hit by hard Brexit'

London and Edinburgh also ranked in the top ten list compiled by researchers at the Centre for Cities and the Centre for Economic Performance (CEP) at the London School of Economics.

Related publications

‘The Local Economic Effects of Brexit’, Swati Dhingra, Stephen Machin and Henry Overman, CEP Brexit Analysis Paper No.10, July 2017

http://cep.lse.ac.uk/pubs/download/brexit10.pdf

‘Brexit, Trade and the Economic Impacts on UK Cities’, Naomi Clayton and Henry Overman, Centre for Cities briefing, July 2017

http://www.centreforcities.org/wp-content/uploads/2017/07/17-07-26-Brexit-trade-and-the-economic-impacts-on-UK-cities.pdf


Related Links:
STV online - News: Aberdeen ‘will be UK city worst hit by hard Brexit'

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 27/07/2017      [Back to the Top]

Insider.co.uk

Aberdeen ‘worst affected city in UK if there's a hard Brexit'

Centre for Cities and Centre for Economic Performance analysis also places Edinburgh sixth in a top ten of urban conurbations hit most if the country fails to strike a deal with the EU.

Related publications

‘The Local Economic Effects of Brexit’, Swati Dhingra, Stephen Machin and Henry Overman, CEP Brexit Analysis Paper No.10, July 2017

http://cep.lse.ac.uk/pubs/download/brexit10.pdf

‘Brexit, Trade and the Economic Impacts on UK Cities’, Naomi Clayton and Henry Overman, Centre for Cities briefing, July 2017

http://www.centreforcities.org/wp-content/uploads/2017/07/17-07-26-Brexit-trade-and-the-economic-impacts-on-UK-cities.pdf


Related Links:
Insider.co.uk - Aberdeen ‘worst affected city in UK if there's a hard Brexit'

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 27/07/2017      [Back to the Top]

International Business Times

Revealed: the cities Brexit will hit hardest

Aberdeen will be the hardest hit city in the UK by Brexit, according to a new report on the economic impact of withdrawal from the European Union (EU). Other cities or urban areas such as London, Slough and Edinburgh are in the top ten of a list compiled by researchers at the Centre for Cities and the Centre for Economic Performance (CEP) at the London School of Economics.

Related publications

‘The Local Economic Effects of Brexit’, Swati Dhingra, Stephen Machin and Henry Overman, CEP Brexit Analysis Paper No.10, July 2017

http://cep.lse.ac.uk/pubs/download/brexit10.pdf

‘Brexit, Trade and the Economic Impacts on UK Cities’, Naomi Clayton and Henry Overman, Centre for Cities briefing, July 2017

http://www.centreforcities.org/wp-content/uploads/2017/07/17-07-26-Brexit-trade-and-the-economic-impacts-on-UK-cities.pdf


Related Links:
International Business Times - Revealed: the cities Brexit will hit hardest

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 27/07/2017      [Back to the Top]

Worthing Herald

Study reveals Worthing will suffer from Brexit

Worthing is among the top ten towns that will suffer the most by Britain’s exit from Europe, according to a study that overturns assumptions that poorer areas of the UK will suffer the most. For the first time, research by the Centre for Cities think-tank and the Centre for Economic Performance at London School of Economics has analysed the likely impact of both hard and soft Brexit in the decade after any trade deal is done with Europe.

Also in:  Littlehampton Gazette, Study reveals Worthing will suffer from Brexit

Related publications:  ‘The Local Economic Effects of Brexit’, Swati Dhingra, Stephen Machin and Henry Overman, CEP Brexit Analysis Paper No.10, July 2017;

Brexit, Trade and the Economic Impacts on UK Cities’, Naomi Clayton and Henry Overman, Centre for Cities briefing, July 2017


Related Links:
Worthing Herald - Study reveals Worthing will suffer from Brexit

The Local Economic Effects of Brexit

CEP Labour Markets CEP Growth CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 27/07/2017      [Back to the Top]

The Planner

Brexit will hit southern UK cities hardest – report

Cities that are successful and have large high-skilled service sectors, mainly located in the south of England, will be hit the hardest by Brexit, whether it is ‘hard’ or ‘soft’. A report by think tank Centre for Cities and the Centre for Economic Performance (CEP) at the London School of Economics (LSE) also says these cities are better placed to adapt to the economic shocks ahead compared with less affluent places that are less directly affected by Brexit. The report considers the impact both a soft and hard Brexit might have on British cities in the 10 years following new trade arrangements with the EU being implemented. Researchers say a hard Brexit would bring an average reduction of 2.3 per cent in economic input across all UK cities compared with a soft Brexit, which would result in a 1.2 per cent decrease. Whether the UK gets a hard or soft Brexit, the report suggests, cities that are doing economically well – predominantly in the south of England – would be hit the most directly and the hardest.

Related publications

‘The Local Economic Effects of Brexit’, Swati Dhingra, Stephen Machin and Henry Overman, CEP Brexit Analysis Paper No.10, July 2017

http://cep.lse.ac.uk/pubs/download/brexit10.pdf

‘Brexit, Trade and the Economic Impacts on UK Cities’, Naomi Clayton and Henry Overman, Centre for Cities briefing, July 2017

http://www.centreforcities.org/wp-content/uploads/2017/07/17-07-26-Brexit-trade-and-the-economic-impacts-on-UK-cities.pdf


Related Links:
The Planner - Brexit will hit southern UK cities hardest – report

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 27/07/2017      [Back to the Top]

Aberdeen Evening Express

Aberdeen will be hit hardest by Brexit deals

A new report today named Aberdeen as the UK city predicted to be the worst-hit by a so-called hard Brexit. London and Edinburgh also ranked in the top 10 list compiled by researchers at the think tank Centre for Cities and the Centre for Economic Performance (CEP) at the London School of Economics. They analysed the potential impact of both a “hard” and “soft” Brexit on British cities in the 10 years following the implementation of new trade deals with the EU.

Related publications

‘The Local Economic Effects of Brexit’, Swati Dhingra, Stephen Machin and Henry Overman, CEP Brexit Analysis Paper No.10, July 2017

http://cep.lse.ac.uk/pubs/download/brexit10.pdf

‘Brexit, Trade and the Economic Impacts on UK Cities’, Naomi Clayton and Henry Overman, Centre for Cities briefing, July 2017

http://www.centreforcities.org/wp-content/uploads/2017/07/17-07-26-Brexit-trade-and-the-economic-impacts-on-UK-cities.pdf


Related Links:
Aberdeen Evening Express - Aberdeen will be hit hardest by Brexit deals

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 27/07/2017      [Back to the Top]

Commonspace

Brexit will hit Aberdeen harder than any other city in UK, report says

Research done by the Centre for Economic Performance (CEP) at the London School of Economics and the Centre for Cities predicted an economic downturn of 3.7 per cent for Aberdeen and 2.7 per cent in Edinburgh in the event of a hard Brexit. For a soft Brexit, the report expects the drop off to be 2.1 per cent for Aberdeen and 1.4 per cent in Edinburgh.

 

Related publications

‘The Local Economic Effects of Brexit’, Swati Dhingra, Stephen Machin and Henry Overman, CEP Brexit Analysis Paper No.10, July 2017

http://cep.lse.ac.uk/pubs/download/brexit10.pdf

‘Brexit, Trade and the Economic Impacts on UK Cities’, Naomi Clayton and Henry Overman, Centre for Cities briefing, July 2017

http://www.centreforcities.org/wp-content/uploads/2017/07/17-07-26-Brexit-trade-and-the-economic-impacts-on-UK-cities.pdf


Related Links:
Commonspace - Brexit will hit Aberdeen harder than any other city in UK, report says

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 27/07/2017      [Back to the Top]

Bristol Post

Bristol to be one of the UK's cities worst hit by Brexit

The joint Centre for Cities and Centre for Economic Performance study predicts that Bristol’s economic output will decrease by up to 2.6 per cent – the 11th worst-hit city in the country. However, the report also states that Bristol will be well equipped to weather the downturn, due to its skilled and adaptable workforce. Published today, the report compares the fall in economic output of 63 cities across the UK depending on whether central government opts for a ‘hard’ or ‘soft’ Brexit.

Related publications

‘Brexit, Trade and the Economic Impacts on UK Cities’, Naomi Clayton and Henry Overman, Centre for Cities briefing, July 2017

http://www.centreforcities.org/wp-content/uploads/2017/07/17-07-26-Brexit-trade-and-the-economic-impacts-on-UK-cities.pdf


Related Links:
Bristol Post - Bristol to be one of the UK's cities worst hit by Brexit

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 27/07/2017      [Back to the Top]

Bloomberg Politics

Here are the places in the UK that will be hit hardest by Brexit

Brexit will hit Scottish oil capital Aberdeen the hardest of all Britain’s cities, with London also ranking highly and facing a medium-term blow to economic output of as much as 2.6 percent, academics at the London School of Economics said. The researchers estimated that output in U.K. cities -- using a measure called gross value added -- will decline 2.3 percent on average, assuming a hard Brexit in which Britain trades with the European Union under World Trade Organization rules and tariffs. The drop under a soft Brexit, with a negotiated zero-tariff free-trade area but an increase in border controls and customs checks, was projected to be 1.2 percent lower.

Related publications

‘The Local Economic Effects of Brexit’, Swati Dhingra, Stephen Machin and Henry Overman, CEP Brexit Analysis Paper No.10, July 2017

http://cep.lse.ac.uk/pubs/download/brexit10.pdf

‘Brexit, Trade and the Economic Impacts on UK Cities’, Naomi Clayton and Henry Overman, Centre for Cities briefing, July 2017

http://www.centreforcities.org/wp-content/uploads/2017/07/17-07-26-Brexit-trade-and-the-economic-impacts-on-UK-cities.pdf


Related Links:
Bloomberg Politics - Here are the places in the UK that will be hit hardest by Brexit

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 27/07/2017      [Back to the Top]

LSE EUROPP (European Politics and Policy) blog

CEP study: the UK areas that will be hit most (and least) by Brexit

The LSE’s Centre for Economic Performance (working with the Centre for Cities think tank) has carried out a study shedding light upon the local economic impact of Brexit. Henry G. Overman writes that it is the richer cities, predominantly in the south of England, that will be hit hardest by Brexit, with this effect particularly apparent in areas specialised in services.

Our research (with Swati Dhingra and Stephen Machin) looks at the difference in predicted effects across all Local Authority Areas and across Primary Urban Areas under a ‘soft’ and a ‘hard’ Brexit scenario (the former involves zero tariffs, but increased non-tariff barriers with the EU, the latter involves non-zero tariffs and even higher non-tariff barriers). It also provides some initial analysis on whether these predicted impacts are likely to exacerbate or alleviate existing disparities, and looks at how the predicted economic impacts of Brexit correlate with voting patterns from the referendum.

Related publications

‘Brexit, Trade and the Economic Impacts on UK Cities’, Naomi Clayton and Henry Overman, Centre for Cities briefing, July 2017

http://www.centreforcities.org/wp-content/uploads/2017/07/17-07-26-Brexit-trade-and-the-economic-impacts-on-UK-cities.pdf


Related Links:
LSE EUROPP (European Politics and Policy) blog - CEP study: the UK areas that will be hit most (and least) by Brexit

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 27/07/2017      [Back to the Top]

BBC Wiltshire

(06:01:57)

Snippet: News that Swindon could be one of the cities worst hit by Brexit
Click to open

Related publications

‘The Local Economic Effects of Brexit’, Swati Dhingra, Stephen Machin and Henry Overman, CEP Brexit Analysis Paper No.10, July 2017

http://cep.lse.ac.uk/pubs/download/brexit10.pdf

‘Brexit, Trade and the Economic Impacts on UK Cities’, Naomi Clayton and Henry Overman, Centre for Cities briefing, July 2017

http://www.centreforcities.org/wp-content/uploads/2017/07/17-07-26-Brexit-trade-and-the-economic-impacts-on-UK-cities.pdf


Related Links:
CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 27/07/2017      [Back to the Top]

RES (Royal Economic Society) Newsletter

Conference Report 2017 'Divided we fall'

Perhaps the public knew that Brexit would drain their wallets, but voted for it anyway. Sometimes it’s not the economy, stupid. But Simon Wren-Lewis, of Oxford University, rubbished this idea, pointing out that those who voted for Brexit said they were unwilling to pay to reduce immigration. Instead, people seemed misinformed. Not only did those who voted to leave the EU think that they would be no worse off as a result, they thought that lower immigration would improve their access to public services. The problem, Mr Wren-Lewis argued, was with the media. Dismissing a large fraction as producers of propoganda, he reserved most disappointment for the BBC. It failed to communicate the consensus among economists, he said, treating it as opinion rather than knowledge. Swati Dhingra, of the London School of Economics, agreed, saying that the BBC’s quest to generate balance gave the false impression that there was a meaningful debate between economists. (Depressingly, she noted that this false balance had oozed into policymaking, as select committees are being stacked with pro-Brexit voices.)

Breakfast means breakfast

Amid the pastries, the presentations and the self-flagellation, it might have been easy to forget what the point of it all. An article in The Independent, previewing the conference, and highlighted by Paul Johnson on the first day of the conference, provided a helpful reminder. ‘Economics research can really improve people’s lives’, wrote Hamish McRae. While the public associates economics with GDP and abstract equations, much of the research presented at the conference was focused on how to make people’s lives better. Examples I saw included a paper presented by Christine Farquharson of the IFS, which suggested that free school breakfasts are a cheap way to help children do better in school. A panel discussion on re-skilling the UK between Steve Machin, Kirabo Jackson, Richard Burgess and Sandra McNally tossed around tax credits for investment in skills and training, a plea for more thinking about teacher quality, and from Kirabo Jackson, to think about the education system as a whole, rather than separate, substitutable stages. Football scheduling was on the list too: boys perform worse in exams when they coincide with international football tournaments.


Related Links:
RES (Royal Economic Society) Newsletter - Conference Report 2017 'Divided we fall'

CEP Trade CEP Labour Markets CEP Education and Skills

Swati Dhingra webpage

Stephen Machin webpage

Sandra Mcnally webpage



News Posted: 27/07/2017      [Back to the Top]

Guardian

Amber Rudd asks for analysis of EU migration – a year after referendum

The home secretary, Amber Rudd, is to commission the independent Migration Advisory Committee to carry out a detailed analysis of the economic and social contributions and costs of EU citizens in Britain. The MAC’s chairman, Prof Alan Manning, has been asked to produce interim reports to guide Home Office officials attempting to draw up a post-Brexit immigration regime that will bring an end to free movement but will not cause economic damage or vital skills shortages.


Related Links:
Guardian - Amber Rudd asks for analysis of EU migration – a year after referendum

CEP Community

Alan Manning webpage



News Posted: 27/07/2017      [Back to the Top]

Le Monde (France)

Rythmes scolaires : « Le retour à la semaine de quatre jours risque de se faire aux dépens des femmes/School rythms : « The return to the four-day week may be at the expense of women

The two economists, Emma Duchini and Clémentine Van Effenterre, who speak in the "World", believe that this reform did not take into account the interest of parents, especially mothers.


Related Links:
Le Monde (France) - Rythmes scolaires : « Le retour à la semaine de quatre jours risque de se faire aux dépens des femmes/School rythms : « The return to the four-day week may be at the expense of women

CEP Education and Skills



News Posted: 27/07/2017      [Back to the Top]

The Scottish Sun

BREX HIT New report names Aberdeen as UK city predicted to be worst-hit by so-called hard Brexit

A NEW report has named Aberdeen as the UK city predicted to be the worst-hit by a so-called hard Brexit. Edinburgh also ranked in the top 10 list compiled by researchers at the think tank Centre for Cities and the Centre for Economic Performance at the London School of Economics.

Related publications

‘The Local Economic Effects of Brexit’, Swati Dhingra, Stephen Machin and Henry Overman, CEP Brexit Analysis Paper No.10, July 2017

http://cep.lse.ac.uk/pubs/download/brexit10.pdf

‘Brexit, Trade and the Economic Impacts on UK Cities’, Naomi Clayton and Henry Overman, Centre for Cities briefing, July 2017

http://www.centreforcities.org/wp-content/uploads/2017/07/17-07-26-Brexit-trade-and-the-economic-impacts-on-UK-cities.pdf


Related Links:
The Scottish Sun - BREX HIT New report names Aberdeen as UK city predicted to be worst-hit by so-called hard Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 27/07/2017      [Back to the Top]

i paper

New study finds towns in South hit worst after Brexit

Towns and cities in the South of England will be hit hardest by Britain’s exit from Europe, according to a study that overturns assumptions that poorer areas of the UK will suffer the most. Researchers at the Centre for Cities think-tank and the Centre for Economic Performance at the London School of Economics found that all British cities are set to see a drop in economic output, regardless of whether the Brexit deal is “hard” or “soft”, because of the predicted rise in the costs of trade.

Related publications

‘The Local Economic Effects of Brexit’, Swati Dhingra, Stephen Machin and Henry Overman, CEP Brexit Analysis Paper No.10, July 2017

http://cep.lse.ac.uk/pubs/download/brexit10.pdf

‘Brexit, Trade and the Economic Impacts on UK Cities’, Naomi Clayton and Henry Overman, Centre for Cities briefing, July 2017

http://www.centreforcities.org/wp-content/uploads/2017/07/17-07-26-Brexit-trade-and-the-economic-impacts-on-UK-cities.pdf


Related Links:
i paper - New study finds towns in South hit worst after Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 27/07/2017      [Back to the Top]

The Times (Scotland)

Aberdeen and Edinburgh ‘to be hit hardest by Brexit'

Aberdeen and Edinburgh are the cities set to take the biggest financial hit when the UK leaves the European Union, according to a think tank that predicts a downturn in trade even if ministers strike a “soft Brexit” deal.

Related publications

‘The Local Economic Effects of Brexit’, Swati Dhingra, Stephen Machin and Henry Overman, CEP Brexit Analysis Paper No.10, July 2017

http://cep.lse.ac.uk/pubs/download/brexit10.pdf

‘Brexit, Trade and the Economic Impacts on UK Cities’, Naomi Clayton and Henry Overman, Centre for Cities briefing, July 2017

http://www.centreforcities.org/wp-content/uploads/2017/07/17-07-26-Brexit-trade-and-the-economic-impacts-on-UK-cities.pdf


Related Links:
The Times (Scotland) - Aberdeen and Edinburgh ‘to be hit hardest by Brexit'

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 27/07/2017      [Back to the Top]

SERC blog

The local economic impacts of Brexit

Article by Henry Overman

I've been working with colleagues at the Centre for Economic Performance (Swati Dhingra and Steve Machin) and the Centre for Cities (Naomi Clayton) to take a first look at the local economic impacts of Brexit. You can read the more technical CEP piece here and the less technical CfC piece here. The research looks at the difference in predicted effects across all Local Authority Areas and across Primary Urban Areas under a 'soft' and a 'hard' Brexit scenario (the former involves zero tariffs, but increased non-tariff barriers with the EU, the latter involves non-zero tariffs and even higher non-tariff barriers). It also provides some initial analysis on whether these predicted impacts are likely to exacerbate or alleviate existing disparities and looks at how the predicted economic impacts of Brexit correlate with voting patterns from the referendum.

Related publications

‘The Local Economic Effects of Brexit’, Swati Dhingra, Stephen Machin and Henry Overman, CEP Brexit Analysis Paper No.10, July 2017.

http://cep.lse.ac.uk/pubs/download/brexit10.pdf

‘Brexit, Trade and the Economic Impacts on UK Cities’, Naomi Clayton and Henry Overman, Centre for Cities briefing, July 2017.

http://www.centreforcities.org/wp-content/uploads/2017/07/17-07-26-Brexit-trade-and-the-economic-impacts-on-UK-cities.pdf


Related Links:
SERC blog - The local economic impacts of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 27/07/2017      [Back to the Top]

BBC News

Aberdeen ‘worst hit' by hard Brexit, experts predict

Aberdeen could be the city worst hit by falling economic output due to a "hard" Brexit, experts have predicted.

A new report from the Centre for Cities and the Centre for Economic Performance at the London School of Economics, said all cities would see a fall in output due to increasing trade costs. Aberdeen and Edinburgh were both ranked among the ten most affected cities. However the study said both cities are also among the best-placed to respond to any predicted economic turbulence.


Related Links:
BBC News - Aberdeen ‘worst hit' by hard Brexit, experts predict

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 27/07/2017      [Back to the Top]

Sky news

Businesses clamour for clarity from 'long overdue' migration study

Consider the timescale: the Migration Advisory Committee (MAC) is made up of one chairman (Professor Alan Manning from the London School of Economics) and three independent economists who now have to commission data and solicit responses from industry and Government.

Related publications

1st Report - Brexit and the Labour Market


Related Links:
Sky news - Businesses clamour for clarity from 'long overdue' migration study

CEP Community

Alan Manning webpage



News Posted: 27/07/2017      [Back to the Top]

Daily Mail

Those Brexit scare stories debunked – House prices could crash

Paul Cheshire, Professor of Economic Geography at the LSE, says house prices could crash by 40 percent. His colleague Christian Hilber explains: ‘If Brexit leads to a recession and/or sluggish growth for extended periods, then an extended and severe downturn is more likely than a short-lived and mild one.’


Related Links:
Daily Mail - Those Brexit scare stories debunked – House prices could crash

CEP Urban and Spatial Programme

Paul Cheshire webpage

Christian Hilber webpage



News Posted: 26/07/2017      [Back to the Top]

Yahoo! Finance

The three things businesses need to survive Brexit

While the Prime Minister seems to understand that trade with the European Union is sizeable, she also seems to be under the illusion that Britain can pick and choose during the Brexit negotiations. Let’s keep trade but stop immigration, payments to Brussels, and oversight from the European Court of Justice. This option won’t be available. The reality is that Britain faces a trade-off. More distance from the EU means bigger income loss. The Centre for Economic Performance at the London School of Economics estimates that a hard Brexit, i.e. falling back on World Trade Organization terms, will cut trade by 40% over 10 years. For the average household earning around £23,000, this translates into £600 less per year. The softest version of Brexit, i.e. the Norwegian model, still reduces trade by 20-25%, and household income by £300.

Related publications

‘The Consequences of Brexit for UK Trade and Living Standards’, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis Paper No.02, March 2016

http://cep.lse.ac.uk/pubs/download/brexit02.pdf

 

 


Related Links:
Yahoo! Finance - The three things businesses need to survive Brexit

CEP Trade CEP Growth

Swati Dhingra webpage

Gianmarco Ottaviano webpage

Thomas Sampson webpage

John Van reenen webpage



News Posted: 26/07/2017      [Back to the Top]

Harvard Business Review

Making sense of our very competitive super monopolistic economy

These two narratives needn’t be completely at odds. As I concluded in a piece last year on the debate over too much versus too little competition:

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 [of MIT]. Maybe competition creates corporate inequality. But maybe it’s lack of competition that preserves it.


Related Links:
Harvard Business Review - Making sense of our very competitive super monopolistic economy

CEP Growth

John Van reenen webpage



News Posted: 25/07/2017      [Back to the Top]

The State of Working Britain blog

Is there a public sector pay premium?

Article by Jonathan Wadsworth

The issue of public sector pay went centre-stage recently in the debate over whether to lift the public sector pay cap. Presumably one of the key factors, alongside where the revenue to pay for any uplift would come from, would be whether public sector salaries had fallen behind those in the private sector which could make it harder to recruit, retain and motivate staff. The problem is how to measure any public sector pay gap. Because public sector jobs often have different characteristics from those in the private sector (there are relatively more graduate jobs in the public sector for example) a simple comparison of average pay between the public and private sector can be misleading.

Related links

The State of Working Britain blog webpage:  http://stateofworkingbritain.blogspot.co.uk/


Related Links:
The State of Working Britain blog - Is there a public sector pay premium?

CEP Labour Markets

Jonathan Wadsworth webpage



News Posted: 25/07/2017      [Back to the Top]

Wall Street Journal

Board Is Cited In Bank's Collapse

Snippet: “In Europe, you have 28 different banking systems, which were created nationally under different mandates,” said Tom Kirchmaier, deputy director of corporate governance at the

London School of Economics.

[No link available]


Related Links:
CEP Labour Markets CEP Community

Tom Kirchmaier webpage



News Posted: 25/07/2017      [Back to the Top]

Financial Times

Companies risk fines for labour abuses lower on supply chain

Big retailers and construction companies may be fined for labour abuses committed by smaller firms further down the supply chain, the government’s first labour enforcement tsar has suggested. Unveiling his new strategy, David Metcalf — appointed in January to lead a campaign against abuses in the labour market — suggested it was time for companies to take more responsibility for illegal practices among their contractors, such as minimum wage violations.


Related Links:
Financial Times - Companies risk fines for labour abuses lower on supply chain

CEP Labour Markets

David Metcalf webpage



News Posted: 25/07/2017      [Back to the Top]

JamesACox blog

Productivity and robots

In a new study from London’s Center for Economic Research [sic], the analysis offered by George Graetz and Guy Michaels of Uppsala University and the London School of Economics, respectively, offers some of the first rigorous macroeconomic research and finds that industrial robots have been a substantial driver of labor productivity and economic growth.

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

 


Related Links:
JamesACox blog - Productivity and robots

Robots at work: the impact on productivity and jobs

CEP Labour Markets

Georg Graetz webpage

Guy Michaels webpage



News Posted: 24/07/2017      [Back to the Top]

BBC Radio 4

Analysis - The Minimum Wage: too much of a good thing?

Professor Stephen Machin took part in this programme about the minimum wage.

Has the initial success of the minimum wage meant politicians have extended the policy to damaging levels? All the major political parties agree: the measure has been a success, and in the 2017 election all promised substantial rises in the rate by 2020. The Conservatives are aiming for a £9 national living wage by the end of the decade, and not to be outdone, Labour promised £10 for all but the under-18s. Paul Johnson, director of the Institute of Fiscal Studies, asks why left and right have both adopted this once controversial policy. And could the current bidding war of big increases undermine the positive effects it has had over its eighteen-year history?


Related Links:
BBC Radio 4 - Analysis - The Minimum Wage: too much of a good thing?

CEP Labour Markets

Stephen Machin webpage



News Posted: 24/07/2017      [Back to the Top]

New York Times

England's mental health experiment: free talk therapy

In 2005 David Clark, a professor of psychology at Oxford University, and the economist Richard Layard, a member of the House of Lords, concluded that providing therapy to people like Oliver made economic sense.

“We made the case that, just on lost work alone, the program would pay for itself,” Dr. Layard said in an interview in his office at the London School of Economics.


Related Links:
New York Times - England's mental health experiment: free talk therapy

CEP Wellbeing

Richard Layard webpage



News Posted: 24/07/2017      [Back to the Top]

atd – Association for Talent Development

Is working from home better than working in the office?

Although workforces are becoming more spread out and technologies such as videoconferencing are making workplaces more fluid, employees who work exclusively from home are still getting a bad rap. Their jobs aren’t viewed as legitimate, and they aren’t as valued as their more traditional counterparts. However, this notion isn’t necessarily based in reality. According to Stanford Graduate School of Business professor Nicholas Bloom, requiring employees to be in the office is an outdated work tradition. Such inflexibility ignores employee desires needlessly and actually hurts employers and their workers. “Working from home is a future-looking technology,” Bloom said during TEDxStanford, which took place in April. “I think it has enormous potential.”

Related publications

Does working from home work? Evidence from a Chinese experiment, Nicholas Bloom, James Liang, John Roberts and Zhichun Jenny Ying, Quarterly Journal of Economics, 130(1), February 2015

Working or shirking? Nicholas Bloom, James Liang, John Roberts and Zhichun Jenny Ying. Article in CentrePiece Volume 17, Issue 3, Winter 2012

 


Related Links:
atd – Association for Talent Development - Is working from home better than working in the office?

CEP Growth

Nick Bloom webpage



News Posted: 24/07/2017      [Back to the Top]

Vox

Research on the wage and employment impact of refugees shows modest or no harmful effects on native workers

Sudden inflows of refugees have been shown to have little or no impact on native wages, but recent research has challenged this consensus, using instrumental variables to show uniformly large detrimental effects. This column argues that these new results were due to problems with the strategy used and, in the case of the Mariel boatlift, the composition of the sample. Correcting for these flaws, the impact of immigration on average native-born workers remains small and inconsistent, with no evidence to show a large detrimental impact on less-educated workers.

Related links

Jennifer Hunt, Rutgers and Visiting Academic to CEP:  http://economics.rutgers.edu/people/296-hunt-jennifer

 


Related Links:
Vox - Research on the wage and employment impact of refugees shows modest or no harmful effects on native workers

The Labor Market Effects of Refugee Waves: Reconciling Conflicting Results

CEP Labour Markets



News Posted: 21/07/2017      [Back to the Top]

BBC2 TV

Victoria Derbyshire Show [around 10:30am]

Dennis Novy was live on the show.  The topic was the ongoing Brexit negotiations between the UK and the EU in Brussels, and in particular what the potential outcome might be for Britain’s economy and international trade. The fellow panelists were Nigel Evans MP and James McGrory, Executive Director of Open Britain.


Related Links:
BBC2 TV - Victoria Derbyshire Show [around 10:30am]

CEP Trade

Dennis Novy webpage



News Posted: 21/07/2017      [Back to the Top]

Source – poverty + inequality

The Labor Market Effects of Refugee Waves: Reconciling conflicting results – Centre for Economic Performance (LSE)

An influential strand of research has tested for the effects of immigration on natives’ wages and employment using exogenous refugee supply shocks as natural experiments. Several studies have reached conflicting conclusions about the effects of noted refugee waves such as the Mariel Boatlift in Miami and post-Soviet refugees to Israel. We show that conflicting findings on the effects of the Mariel Boatlift can be explained by a large difference in the pre- and post-Boatlift racial composition in subsamples of the Current Population Survey extracts. This compositional change is specific to Miami, unrelated to the Boatlift, and arises from selecting small subsamples of workers. We also show that conflicting findings on the labor market effects of other important refugee waves are caused by spurious correlation between the instrument and the endogenous variable introduced by applying a common divisor to both. As a whole, the evidence from refugee waves reinforces the existing consensus that the impact of immigration on average native-born workers is small, and fails to substantiate claims of large detrimental impacts on workers with less than high school.

Source:  Clemens, Michael A. and Hunt, Jennifer. “The Labor Market Effects of Refugee Waves: Reconciling conflicting results.” Centre for Economic Performance, LSE. CEPDP1491. July 2017.

Related publications

The Labor Market Effects of Refugee Waves: Reconciling Conflicting Results Michael A. Clemens and Jennifer Hunt, Centre for Economic Performance Discussion Paper NO.1491, July 2017

 

Related links

Jennifer Hunt, Rutgers and Visiting Academic to CEP:  http://economics.rutgers.edu/people/296-hunt-jennifer

 


Related Links:
Source – poverty + inequality - The Labor Market Effects of Refugee Waves: Reconciling conflicting results – Centre for Economic Performance (LSE)

The Labor Market Effects of Refugee Waves: Reconciling Conflicting Results

CEP Labour Markets



News Posted: 21/07/2017      [Back to the Top]

The UK in a Changing Europe (Kings College London)

Brexit and the skills challenge

Article by Sandra McNally

The UK’s productivity suffered a shock in 2008 from which it has not recovered, and the ‘skills problem’ needs to be addressed. Within the context of a broader industrial strategy, improving skills is part of the solution – but Brexit may well harm these efforts if the feared negative economic effects put additional pressure on public finances. Likewise, Brexit will not help if prolonged uncertainty discourages employer investment in skills; nor if employers substitute capital for labour as a response to migration barriers. However, Brexit does do is bring the skills problem into sharper focus.


Related Links:
The UK in a Changing Europe (Kings College London) - Brexit and the skills challenge

CEP Education and Skills CEP CVER

Sandra Mcnally webpage



News Posted: 21/07/2017      [Back to the Top]

The Financial

Report outlines costs of no Brexit deal

The consequences of the UK failing to reach a deal with the EU will be “widespread, damaging and pervasive”, according to a new report featuring LSE experts.

Related publications

‘The Cost of No Deal’  The UK in a Changing Europe http://ukandeu.ac.uk/wp-content/uploads/2017/07/Cost-of-No-Deal-The-UK-in-a-Changing-Europe.pdf

CEP Election Analysis: Brexit and the UK Economy, Swati Dhingra and Thomas Sampson . May 2017 .Paper No' CEPEA040 http://cep.lse.ac.uk/pubs/download/ea040.pdf


Related Links:
The Financial - Report outlines costs of no Brexit deal

CEP Trade

Swati Dhingra webpage

Thomas Sampson webpage



News Posted: 21/07/2017      [Back to the Top]

LSE News

‘People may be overpaying for lease extensions says LSE research'

Dr Ted Pinchbeck, a Fellow in Real Estate Economics and Finance at LSE and one of the authors of the research, said: “Prices of leaseholds of different lengths provide direct new evidence on how people discount the very far future. Our results support the use of a time-declining discount rate, which is used for policy evaluation here in the UK, but not everywhere in the world. This kind of discount rate implies that people are actually willing to pay more or take action now to improve things in the distant future.

Related publications

‘The Time Value of Housing: Historical Evidence on Discount Rates,’ Economic Journal     Philippe Bracke, Edward W. Pinchbeck, James Wyatt. A copy of this paper is available from the LSE press office.


Related Links:
LSE News - ‘People may be overpaying for lease extensions says LSE research'

CEP Urban and Spatial Programme CEP Trade

Edward Pinchbeck webpage



News Posted: 21/07/2017      [Back to the Top]

El Watan ( Algeria)

Il ne faut pas rester au niveau sécuritaire pour trouver des solutions / We must not stay at the security level to find solutions

The topics covered this year are varied: "The social foundations of world happiness"; "Growth and happiness in China"; "Waiting for happiness in Africa"; "The key determinants of happiness and misery"; "Happiness at work"; "Restoring American happiness". The report is written by the authors Jan-Emmanuel De Neve, John F. Helliwell, Haifang Huang, Richard Layard, Jeffrey Sachs and Shun Wang. The China team is led by Richard A.Easterlin and the African team consists of Valerie Møller, Habib Tiliouine and two other members.

 

Related publications

World Happiness Report Helliwell, J., Layard, R., & Sachs, J. (2017). World Happiness Report 2017, New York: Sustainable Development Solutions Network.


Related Links:
El Watan ( Algeria) - Il ne faut pas rester au niveau sécuritaire pour trouver des solutions / We must not stay at the security level to find solutions

CEP Wellbeing

Richard Layard webpage



News Posted: 21/07/2017      [Back to the Top]

Independent

Leasehold homeowners are ‘overpaying to extend' leases

Homeowners living in leasehold properties are being asked to pay extortionate prices to extend the leases on their homes. That’s the conclusion of the London School of Economics and Political Science (LSE), which has analysed data from 8,000 sales of leasehold properties showing how the sale price varied depending on how much time was left on the lease.

Related publications

‘The Time Value of Housing: Historical Evidence on Discount Rates,’ Economic Journal. Philippe Bracke, Edward W. Pinchbeck, James Wyatt. A copy of this paper is available from the LSE press office.


Related Links:
Independent - Leasehold homeowners are ‘overpaying to extend' leases

CEP Trade CEP Urban and Spatial Programme

Edward Pinchbeck webpage



News Posted: 21/07/2017      [Back to the Top]

Parliamentary Business – www.parliament.uk

Economic Affairs Committee publishes its report on Brexit and the Labour Market

Professor Alan Manning, Chair of the Migration Advisory Committee and Professor of Economics, London School of Economics and Lord Layard member of the Economic Affairs Committee…

Related publications

1st Report - Brexit and the Labour Market


Related Links:
Parliamentary Business – www.parliament.uk - Economic Affairs Committee publishes its report on Brexit and the Labour Market

CEP Community CEP Wellbeing

Alan Manning webpage

Richard Layard webpage



News Posted: 21/07/2017      [Back to the Top]

Europeanceo

We need to tear down the silos and rebuild the digital economy

The digital economy is exacerbating the capital-labour disparity in global markets. A new competition authority with global remit is needed to reset the balance

And, as the economists David Autor, David Dorn, Lawrence Katz, Christina Patterson, and John Van Reenen show, the US industries with the fastest-growing market concentration have also seen the largest drop in labour’s share of income.


Related Links:
Europeanceo - We need to tear down the silos and rebuild the digital economy

The Fall of the Labor Share and the Rise of Superstar Firms

CEP Growth

John Van reenen webpage



News Posted: 20/07/2017      [Back to the Top]

LSE News

Report outlines costs of no Brexit deal

The consequences of the UK failing to reach a deal with the EU will be “widespread, damaging and pervasive”, according to a new report featuring LSE experts.

                   Related publications

‘The Cost of No Deal’  The UK in a Changing Europe http://ukandeu.ac.uk/wp-content/uploads/2017/07/Cost-of-No-Deal-The-UK-in-a-Changing-Europe.pdf


Related Links:
LSE News - Report outlines costs of no Brexit deal

CEP Trade

Swati Dhingra webpage

Thomas Sampson webpage



News Posted: 20/07/2017      [Back to the Top]

The Economist

The six flavours of Brexit

Brexiteers rejected the Treasury’s projections for the cost of Brexit last year as “project fear”. But the Centre for Economic Performance at the London School of Economics has remodelled the trade consequences…..

Related publications

CEP Election Analysis: Brexit and the UK Economy, Swati Dhingra and Thomas Sampson . May 2017 .Paper No' CEPEA040 http://cep.lse.ac.uk/pubs/download/ea040.pdf


Related Links:
The Economist - The six flavours of Brexit

CEP Trade

Swati Dhingra webpage

Thomas Sampson webpage



News Posted: 20/07/2017      [Back to the Top]

LSE EUROPP (European Politics and Policy) blog

Five important questions the UK government's Brexit customs plan fails to answer

Article by Thomas Sampson: The most welcome aspect of the government’s policy paper on future customs arrangements is its acknowledgement of the desirability of a transition agreement after the UK leaves the EU. A transition deal will avoid the risks of a cliff-edge Brexit in March 2019 and give the two sides time to negotiate a new trade agreement. The paper suggests the transition agreement could involve a “continued close association with the EU Customs Union for a time-limited period … based on a shared external tariff and without customs processes and duties”. In effect, it proposes that the UK remains in the Customs Union, although this is never explicitly stated.


Related Links:
LSE EUROPP (European Politics and Policy) blog - Five important questions the UK government's Brexit customs plan fails to answer

CEP Trade

Thomas Sampson webpage



News Posted: 19/07/2017      [Back to the Top]

Hatcher+ blog

How medieval accountants and AI created the jobless future

Graph credit: Graetz and Michaels, “Robots at Work" - taken from the Brookings Institute article located here- which manages to interpret data from the Graetz and Michaels study rather too positively, I think.


Related Links:
Hatcher+ blog - How medieval accountants and AI created the jobless future

Robots at work: the impact on productivity and jobs

Robots at Work

CEP Labour Markets

Georg Graetz webpage

Guy Michaels webpage



News Posted: 19/07/2017      [Back to the Top]

Share Radio

[19:05:04]

Reference to Paul Cheshire on possible house price collapse.

Click to open


Related Links:
CEP Urban and Spatial Programme

Paul Cheshire webpage



News Posted: 19/07/2017      [Back to the Top]

Business Live (South Africa)

Is London's housing bull run coming to an end?

Bloomberg News asked seven market commentators to predict what they expected next in London’s £1.6-trillion housing market.

Paul Cheshire, professor of economic geography at the London School of Economics and Political Science: "The turning point is just being reached. Housing prices have continued to rise relative to incomes and the affordability ratio is now at an all-time low. Real incomes are falling as the weakness in the pound feeds through to higher inflation.

Also in:

The Edge Markets

London’s home price growth has flatlined. What happens next?

http://www.theedgemarkets.com/article/londons-home-price-growth-has-flatlined-what-happens-next


Related Links:
Business Live (South Africa) - Is London's housing bull run coming to an end?

CEP Urban and Spatial Programme

Paul Cheshire webpage



News Posted: 19/07/2017      [Back to the Top]

Education Policy Institute

The impact of academies on educational outcomes

The Education Policy Institute (EPI) has published a new paper examining the impact of academies on educational outcomes. The comprehensive report brings together EPI’s own analysis, along with research undertaken by the London School of Economics.

Our principal finding through this extensive study is that academies do not provide an automatic solution to school improvement. As we demonstrate throughout this report, there is significant variation in performance at both different types of academies and Multi-Academy Trusts.

Related publications

The Impact of Academies on Educational Outcomes, Jon Andrews and Natalie Perera with Andrew Eyles, Gabriel Heller Sahlgren, Stephen Machin, Matteo Sandi and Olmo Silva, Education Policy Institute and London School of Economics and Political Science Report, July 2017

https://epi.org.uk/wp-content/uploads/2017/07/EPI_-Impact_of_Academies_Consolidated_Report.pdf

Primary Academies in England’, Andrew Eyles, Stephen Machin and Sandra McNally. Article in CentrePiece Volume 21, Issue 3, Winter 2016

Academy Schools and Pupil Outcomes, Andrew Eyles and Stephen Machin. Article in CentrePiece Volume 20, Issue 2, Autumn 2015

 


Related Links:
Education Policy Institute - The impact of academies on educational outcomes

Unexpected School Reform: Academisation of Primary Schools in England

Academies 2: The New Batch

The Introduction of Academy Schools to England's Education

CEP Education and Skills

Andrew Eyles webpage

Gabriel Heller-sahlgren webpage

Stephen Machin webpage

Olmo Silva webpage



News Posted: 19/07/2017      [Back to the Top]

Suratkabar.id

Ternyata Bekerja Dari Rumah Membuat Anda Lebih Bahagia dan Luar Biasa Produktif, Riset Ini Mengungkapkannya/ Apparently Working From Home Makes You Happier and Extraordinarily Productive, This Research Revealed

But it seems that the assumption is just a false assumption-if it can not be wrong. In fact, reported Inc.com report on Tuesday (07/17/2017), Professor Nicholas Bloom as an economist from Stanford recently explained the opposite in the talk show Talk TED. Unexpectedly, the professor explains how working from home is as potentially as powerful and innovative as a "car without a driver". And this is serious.

Related publications

Does working from home work? Evidence from a Chinese experiment, Nicholas Bloom, James Liang, John Roberts and Zhichun Jenny Ying, Quarterly Journal of Economics, 130(1), February 2015

Working or shirking? Nicholas Bloom, James Liang, John Roberts and Zhichun Jenny Ying. Article in CentrePiece Volume 17, Issue 3, Winter 2012


Related Links:
Suratkabar.id - Ternyata Bekerja Dari Rumah Membuat Anda Lebih Bahagia dan Luar Biasa Produktif, Riset Ini Mengungkapkannya/ Apparently Working From Home Makes You Happier and Extraordinarily Productive, This Research Revealed

CEP Growth

Nick Bloom webpage



News Posted: 18/07/2017      [Back to the Top]

Mundiario

La productividad laboral mejora cuando se trabaja desde casa

But what many ignore or is difficult to accept, is that when working from home, productivity increases. The latest statement is reflected in a study by Nicholas Bloom, a researcher at Stanford University, who was charged with studying a Chinese company and the productivity of employees who worked from home. Bloom's final conclusions show that home-based workers were happier, increasing their productivity, generating more dividends for the company, and earning better wages.

Related publications

Does working from home work? Evidence from a Chinese experiment, Nicholas Bloom, James Liang, John Roberts and Zhichun Jenny Ying, Quarterly Journal of Economics, 130(1), February 2015

Working or shirking? Nicholas Bloom, James Liang, John Roberts and Zhichun Jenny Ying. Article in CentrePiece Volume 17, Issue 3, Winter 2012


Related Links:
Mundiario - La productividad laboral mejora cuando se trabaja desde casa

CEP Growth

Nick Bloom webpage



News Posted: 18/07/2017      [Back to the Top]

Neue Rheinische Zeitung

Dauer-Strohfeuer

Trump and Brexit are rapidly becoming the main threat to the upturn. Once the downturn begins, all fingers will point to them. But the real causes lie somewhere else: Stanford economist Nicholas Bloom points to a fatal development in the SPIEGEL interview (4/2017): For decades the inequality in the population would grow in the USA and to a certain extent also in countries of Europe. A small group possesses the majority of the wealth. This was a source of uncertainty and would be exploited by populists.

Related publications

'Measuring Economic Policy Uncertainty', Scott R. Baker, Nicholas Bloom, Steven J. Davis, The Quarterly Journal of Economics, Vol 131, Issue 4, November 2016


Related Links:
Neue Rheinische Zeitung - Dauer-Strohfeuer

Measuring Economic Policy Uncertainty

CEP Growth

Nick Bloom webpage



News Posted: 18/07/2017      [Back to the Top]

Share Radio

[19:05]

Discussion on possible housing crash – mention of Paul Cheshire.

Click to open


Related Links:
CEP Urban and Spatial Programme

Paul Cheshire webpage



News Posted: 18/07/2017      [Back to the Top]

LSE Brexit blog

Post-Brexit work visa quotas on EU nationals are likely to favour graduates

Businesses that rely on low-skilled EU labour may face hiring difficulties, writes Jonathan Wadsworth. He argues that post-Brexit work visa quotas on EU nationals will probably favour graduates.

Related links

Jonathan Wadsworth CEP publications webpage:  http://cep.lse.ac.uk/_new/publications/author.asp?author=wadsworth


Related Links:
LSE Brexit blog - Post-Brexit work visa quotas on EU nationals are likely to favour graduates

CEP Labour Markets

Jonathan Wadsworth webpage



News Posted: 18/07/2017      [Back to the Top]

LSE British Politics and Policy blog

Five important questions the government's Brexit customs plan fails to answer

The government’s recent paper on future customs arrangements sets out its objectives for how goods trade with the EU will be governed following Brexit. However, as Thomas Sampson outlines below, the proposal is incomplete and leaves unanswered five key questions about the UK’s position.


Related Links:
LSE British Politics and Policy blog - Five important questions the government's Brexit customs plan fails to answer

CEP Trade

Thomas Sampson webpage



News Posted: 17/07/2017      [Back to the Top]

ItalyEurope24

A new course for economic liberalism

A recent study by Erling Bath, Alex Bryson, James Davis, and Richard Freeman showed that the diffusion of individual pay since the 1970s is associated with pay differences between, not within, companies. The Stanford economists Nicholas Bloom and David Price confirmed this finding, and argue that virtually the entire increase in income inequality in the US is rooted in the growing gap in average wages paid by firms.

Related publications

'Measuring Economic Policy Uncertainty', Scott R. Baker, Nicholas Bloom, Steven J. Davis, The Quarterly Journal of Economics, Vol 131, Issue 4, November 2016

Fluctuations in Uncertainty, Nicholas Bloom, Centre for Economic Performance Occasional Paper No.38, December 2013

Economic Recovery and Policy Uncertainty Scott R. Baker, Nick Bloom, Steven J. Davis and John Van Reenen, CEP US Election Analysis Paper No.2, October 2012

Policy Uncertainty: A New Indicator, Scott. R. Baker, Nicholas Bloom and Steven J. Davis.  Article in CentrePiece Volume 16, Issue 3, Winter 2012


Related Links:
ItalyEurope24 - A new course for economic liberalism

Measuring Economic Policy Uncertainty

Does Uncertainty Reduce Growth? Using Disasters as Natural Experiments

Really Uncertain Business Cycles

CEP Growth

Nick Bloom webpage



News Posted: 17/07/2017      [Back to the Top]

Vox

What next for US-Europe trade policy?

Article by Nikhil Datta and Swati Dhingra

The economies of Europe and the United States are inextricably linked and in an ideal world, a number of factors motivate a trade deal such as the Transatlantic Trade and Investment Partnership. This column, taken from a recent VoxEU eBook, argues, however, that given the Brexit referendum in the UK and the election of Donald Trump as US president, as well as a number of other pre-existing complications, achieving such agreements will be highly contentious.

Related publications

What next for US-Europe trade policy?’, Nikhil Datta and Swati Dhingra. A chapter in the Vox eBook, Economics and policy in the Age of Trump, available to download here: http://voxeu.org/content/economics-and-policy-age-trump


Related Links:
Vox - What next for US-Europe trade policy?

CEP Trade

Swati Dhingra webpage

Nikhil Datta webpage



News Posted: 16/07/2017      [Back to the Top]

Developpez.com (France)

Employees working from home would be happier and more efficient than those on the premises of the company. What about France?

Nicholas Bloom, a professor at Stanford University, was interested in the phenomenon of working from home, a particular mode of work that allows employees of a company to stay at home rather than going into space Of the employer's usual work. For Professor Nicholas Bloom, the fact that an employer obliges employees to come and work every day is an obsolete process. He believes that this behavior of the company belongs to the traditions set up during the Industrial Revolution and should no longer be topical. Such inflexibility, disregarding the current sophisticated means of communication and the difficulties associated with transport and the distances to be traveled, is harmful both for employees and for businesses.

Related publications

Does working from home work? Evidence from a Chinese experiment, Nicholas Bloom, James Liang, John Roberts and Zhichun Jenny Ying, Quarterly Journal of Economics, 130(1), February 2015

Working or shirking? Nicholas Bloom, James Liang, John Roberts and Zhichun Jenny Ying. Article in CentrePiece Volume 17, Issue 3, Winter 2012

 


Related Links:
Developpez.com (France) - Employees working from home would be happier and more efficient than those on the premises of the company. What about France?

Does Working from Home Work? Evidence from a Chinese Experiment

CEP Growth

Nick Bloom webpage



News Posted: 16/07/2017      [Back to the Top]

Schools Week

Education has ‘done nothing' to improve social mobility

Education has “not done anything” to improve social mobility and has made inequality worse, according to the education economist Stephen Machin. Speaking at a debate held by the Sutton Trust on Wednesday in central London, Machin said education had been a “dequaliser” because it benefited rich pupils more. “Education has not been the great leveller. It’s either done nothing for social mobility, or it has reinforced existing inequalities.” Time at school strengthened the link between pupils and their family backgrounds, said Machin, a professor at the London School of Economics, meaning more rich pupils ended up in higher education. He also cited the OECD’s finding in 2012 that in 20 developed countries, only young people in the UK and US had as poor literacy and numeracy skills as their parents’ generation.

Related links

Stephen Machin CEP publications webpage:  http://cep.lse.ac.uk/_new/publications/author.asp?author=machin

 


Related Links:
Schools Week - Education has ‘done nothing' to improve social mobility

CEP Labour Markets

Stephen Machin webpage



News Posted: 16/07/2017      [Back to the Top]

oikonomia.gr (Greece)

A new road to economic liberalism

A similar trend can be observed at the organizational level. A recent study by Erling Bath, Alex Bryson, James Davis and Richard Freeman has shown that the spread of individual wages since the 1970s is linked to differences in pay between businesses and not within them. Stanford economists Nicholas Bloom and David Price have confirmed this conclusion and argue that virtually the whole increase in income inequality in the US is due to the growing gap in average wages paid by businesses.

Related links

Alex Bryson CEP Alumni webpage:  https://www.niesr.ac.uk/users/bryson


Related Links:
oikonomia.gr (Greece) - A new road to economic liberalism

Firming Up Inequality

It's Where You Work: Increases in Earnings Dispersion across Establishments and Individuals in the US

CEP Growth

Nick Bloom webpage



News Posted: 14/07/2017      [Back to the Top]

Estate Agent Today

London's prime housing market is no longer roaring

Brexit and higher tax has had a particularly negative impact on the market in well-heeled inner London areas, some of which have seen prices fall sharply over the past 18 months or so, as they absorb the stamp duty increases, and could yet drop further, with Professor Christian Hilber from the London School of Economics warning earlier this month that a recession induced by Brexit could lead to a severe downturn in house prices. Hilber’s view is shared by Professor Paul Cheshire, who has advised the government on housing policy, and predicts that “we are due a significant correction in house prices”.


Related Links:
Estate Agent Today - London's prime housing market is no longer roaring

CEP Urban and Spatial Programme

Christian Hilber webpage

Paul Cheshire webpage



News Posted: 14/07/2017      [Back to the Top]

The Times

Why the housing market is on a go-slow What about the forecast of a 40 per cent decline in prices?

Paul Cheshire, professor of economic geography at the London School of Economics, says that a house price correction, or significant fall in prices, is likely within the next two or three years. This is partly because house prices have risen so far beyond average incomes, while “real” incomes, which take inflation into account, have begun to stagnate. He says: “With Brexit, where you have foreign exchange risk as well as an asset price risk, if house prices start to fall, London real estate may be seen as a less attractive place to park money.” Although Cheshire was reported as predicting a 40 per cent fall, he says this is unlikely and expects positive house price growth over the next 15 years.

 


Related Links:
The Times - Why the housing market is on a go-slow What about the forecast of a 40 per cent decline in prices?

CEP Urban and Spatial Programme

Paul Cheshire webpage

Christian Hilber webpage



News Posted: 14/07/2017      [Back to the Top]

VoxDev – Video

The backlash against globalisation


Related Links:
VoxDev – Video - The backlash against globalisation

CEP Growth

John Van reenen webpage



News Posted: 13/07/2017      [Back to the Top]

Roboteer-tokyo.com (Japan)

'Employment and wages increase rather than introducing robots' ... International Robot Federation Reports

IFR quoted OECD's research results. Companies that introduced innovative technology said they are more productive than 2-10 times more than companies that do not. Also cited a study by Graetz and Michaels published in 2015. Explaining that industrial robots contributed about 10% to GDP growth in 17 European countries between 1993 and 2007.

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


Related Links:
Roboteer-tokyo.com (Japan) - 'Employment and wages increase rather than introducing robots' ... International Robot Federation Reports

Robots at work: the impact on productivity and jobs

CEP Labour Markets

Georg Graetz webpage

Guy Michaels webpage



News Posted: 13/07/2017      [Back to the Top]

Harvard Business Review

A study of 16 countries shows that the most productive firms (and their employees) are pulling away from everyone else

Article by Giuseppe Berlingieri, Patrick Blanchenay and Chiara Criscuolo

The corporate landscape has become increasingly unequal, with the most productive firms thriving and the least productive ones failing to keep up. This matters not just for economic growth but also for inequality: Our research shows that as they grow apart in productivity, firms are also becoming more unequal in how much they pay workers.

Related publications

The great divergence(s) Giuseppe Berlingieri, Patrick Blanchenay, Chiara Criscuolo.

12 May 2017. http://www.oecd-ilibrary.org/science-and-technology/the-great-divergence-s_953f3853-en


Related Links:
Harvard Business Review - A study of 16 countries shows that the most productive firms (and their employees) are pulling away from everyone else

CEP Trade

Giuseppe Berlingieri webpage



News Posted: 13/07/2017      [Back to the Top]

CEP on Twitter

Shadow Secretary of State for Education Angela Rayner MP @AngelaRayner retweeted LSE: 'Education has not been the great leveller – it has actually reinforced existent inequalities,' says Prof Stephen Machin @s_machin_ of LSE'

Related article

Sunday 16 July

Schools Week

Education has ‘done nothing’ to improve social mobility

http://schoolsweek.co.uk/education-has-done-nothing-to-improve-social-mobility/

Related links

Stephen Machin CEP publications webpage:  http://cep.lse.ac.uk/_new/publications/author.asp?author=machin


Related Links:
CEP Labour Markets

Stephen Machin webpage



News Posted: 12/07/2017      [Back to the Top]

Bezprawnik.PL (Poland)

Working from home earns more, less often, and are happier than those working in offices

Nicholas Bloom, a professor at the Stanford Graduate School of Business, conducted a study on a large, multi-thousand research group: employees of a Chinese travel company Ctrip. Have not you heard of her? Not surprisingly, neither is it, but it turns out to be a $ 20 billion capitol (2 times as much as our domestic, poisonous Plock Orlen). Employees in the helpline who were randomly assigned to work remotely and in offices were subjected to the study.

Related publications

Does working from home work? Evidence from a Chinese experiment, Nicholas Bloom, James Liang, John Roberts and Zhichun Jenny Ying, Quarterly Journal of Economics, 130(1), February 2015

Working or shirking? Nicholas Bloom, James Liang, John Roberts and Zhichun Jenny Ying. Article in CentrePiece Volume 17, Issue 3, Winter 2012


Related Links:
Bezprawnik.PL (Poland) - Working from home earns more, less often, and are happier than those working in offices

Does Working from Home Work? Evidence from a Chinese Experiment

CEP Growth

Nick Bloom webpage



News Posted: 12/07/2017      [Back to the Top]

Project Syndicate

A new course for economic liberalism

Research by Cesar Hidalgo and his colleagues at MIT reveals that, in countries where sectoral concentration has declined in recent decades, such as South Korea, income inequality has fallen. In those where sectoral concentration has intensified, such as Norway, inequality has risen. A similar trend can be seen at the organizational level. A recent study by Erling Bath, Alex Bryson, James Davis, and Richard Freeman showed that the diffusion of individual pay since the 1970s is associated with pay differences between, not within, companies. The Stanford economists Nicholas Bloom and David Price confirmed this finding, and argue that virtually the entire increase in income inequality in the US is rooted in the growing gap in average wages paid by firms.


Related Links:
Project Syndicate - A new course for economic liberalism

Firming Up Inequality

It's Where You Work: Increases in Earnings Dispersion across Establishments and Individuals in the US

CEP Growth CEP Labour Markets

Nick Bloom webpage



News Posted: 12/07/2017      [Back to the Top]

MarketPlace

Now we can measure economic policy uncertainty

In the world of business and economics, there’s a bit of a fixation on uncertainty. To start, there's the VIX, a measure of investor fear, that tracks expected volatility in the markets. But there’s another index out there, one that might be less familiar. It's called the Economic Policy Uncertainty Index, and it provides clues about how politics might be shaping the economy. Scott Baker from the Kellogg School of Management at Northwestern University developed the index along with Nicholas Bloom at Stanford University and Steven Davis at the University of Chicago. At the time they began working on it, in the years after the Great Recession, "there wasn't something that highlighted the role the government played in generating or driving uncertainty," Baker said.

Related publications

'Measuring Economic Policy Uncertainty', Scott R. Baker, Nicholas Bloom, Steven J. Davis, The Quarterly Journal of Economics, Vol 131, Issue 4, November 2016

Fluctuations in Uncertainty, Nicholas Bloom, Centre for Economic Performance Occasional Paper No.38, December 2013

Economic Recovery and Policy Uncertainty Scott R. Baker, Nick Bloom, Steven J. Davis and John Van Reenen, CEP US Election Analysis Paper No.2, October 2012

Policy Uncertainty: A New Indicator, Scott. R. Baker, Nicholas Bloom and Steven J. Davis.  Article in CentrePiece Volume 16, Issue 3, Winter 2012


Related Links:
MarketPlace - Now we can measure economic policy uncertainty

Measuring Economic Policy Uncertainty

Does Uncertainty Reduce Growth? Using Disasters as Natural Experiments

Really Uncertain Business Cycles

CEP Growth

Nick Bloom webpage



News Posted: 12/07/2017      [Back to the Top]

Quartz

Work from home people earn more, quit less, and are happier than their office-bound counterparts

Working from home gets a bad rap. Google the phrase and examine the results—you’ll see scams or low-level jobs, followed by links calling out “legitimate” virtual jobs. But Stanford Graduate School of Business professor Nicholas Bloom says requiring employees to be in the office is an outdated work tradition, set up during the Industrial Revolution. Such inflexibility ignores today’s sophisticated communications methods and long commutes, and actually hurts firms and employees. “Working from home is a future-looking technology,” Bloom told an audience during TEDxStanford, which took place in April. “I think it has enormous potential.”

Related publications

Does working from home work? Evidence from a Chinese experiment, Nicholas Bloom, James Liang, John Roberts and Zhichun Jenny Ying, Quarterly Journal of Economics, 130(1), February 2015

Working or shirking? Nicholas Bloom, James Liang, John Roberts and Zhichun Jenny Ying. Article in CentrePiece Volume 17, Issue 3, Winter 2012


Related Links:
Quartz - Work from home people earn more, quit less, and are happier than their office-bound counterparts

Does Working from Home Work? Evidence from a Chinese Experiment

CEP Growth

Nick Bloom webpage



News Posted: 12/07/2017      [Back to the Top]

Contrepoints

Les pays où il fail bon vivre sont

The same report by academics (John F. Helliwell, Canadian Institute for Advanced Research and Vancouver School of Economics Richard Layard, Director, London School of Economics, Jeffrey D. Sachs, Columbia University) offers also a ranking of countries in terms of the happiness at work.

Related publications

World Happiness report (2017), John Helliwell, Richard Layard & Jeffrey Sachs.

http://worldhappiness.report/


Related Links:
Contrepoints - Les pays où il fail bon vivre sont

CEP Wellbeing

Richard Layard webpage



News Posted: 12/07/2017      [Back to the Top]

Hellenic News

Business casts doubt on UK-US post-Brexit trade deal

“There are bigger potential gains from doing a deal with Europe than with the U.K. on its own, just because Europe is a bigger market,” said Thomas Sampson, an economist at the Centre for Economic Performance. “The flip side of that would be that because the U.K. is just one country rather than a block of 27 countries it should have more flexibility.”


Related Links:
Hellenic News - Business casts doubt on UK-US post-Brexit trade deal

CEP Trade

Thomas Sampson webpage



News Posted: 12/07/2017      [Back to the Top]

Financial Times

The secret of Singapore's development master plan

Letter from Edwin Loo, Singapore

Singapore is one of only a few jurisdictions in the world to have successfully implemented a comprehensive system of land value capture through betterment taxes and revenues from the sale of government-owned land. The revenues from this system have worked to create a virtuous cycle where development helps to pay for itself by unlocking the funds necessary to bring forward the infrastructure needed to support further development.  Professor Paul Cheshire of the London School of Economics has rightly observed in his response to the recent Housing White Paper, the UK desperately needs a rules-based system similar to Singapore’s Master Plan that provides clarity and certainty.


Related Links:
Financial Times - The secret of Singapore's development master plan

CEP Urban and Spatial Programme

Paul Cheshire webpage



News Posted: 12/07/2017      [Back to the Top]

Emirates-Business.ae

Businesses cast doubt on UK-US post-Brexit trade deal

“There are bigger potential gains from doing a deal with Europe than with the UK on its own, just because Europe is a bigger market,” said Thomas Sampson, an economist at the Centre for Economic Performance. “The flip side of that would be that because the UK is just one country rather than a block of 27 countries it should have more flexibility.”


Related Links:
Emirates-Business.ae - Businesses cast doubt on UK-US post-Brexit trade deal

CEP Trade

Thomas Sampson webpage



News Posted: 11/07/2017      [Back to the Top]

Bloomberg (USA)

Post-Brexit UK trade deal with Trump in easier said than done

“There are bigger potential gains from doing a deal with Europe than with the U.K. on its own, just because Europe is a bigger market,” said Thomas Sampson, an economist at the Centre for Economic Performance. “The flip side of that would be that because the U.K. is just one country rather than a block of 27 countries it should have more flexibility.”

Also in: Las Cruces Sun-News (New Mexico) Post-Brexit UK trade deal with Trump in easier said than done


Related Links:
Bloomberg (USA) - Post-Brexit UK trade deal with Trump in easier said than done

CEP Trade

Thomas Sampson webpage



News Posted: 11/07/2017      [Back to the Top]

The core of the REVOLUTION (Korea)

‘Robots introduced', contributing to competitiveness and job creation

According to the report of "The Impact of Robots on Productivity, Employment and Jobs" published by the International Robot Federation (IFR) recently issued by the Korea Robot Industry Promotion Agency (President Park Ki-Han) Productivity, and job creation.

IFR cited the results of the OECD and found that companies that introduced innovative technologies were 2 to 10 times more productive than those who did not, and cited the study by Graetz and Michaels, published in 2015, In fact, robots have contributed 10% to GDP growth in 17 countries in Europe from 1993 to 2007.

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


Related Links:
The core of the REVOLUTION (Korea) - ‘Robots introduced', contributing to competitiveness and job creation

Robots at work: the impact on productivity and jobs

CEP Labour Markets

Georg Graetz webpage

Guy Michaels webpage



News Posted: 11/07/2017      [Back to the Top]

LSE News

People may be overpaying for lease extensions says LSE research

People may be paying too high a price to extend the leases on their homes according to new research from the LSE. The research, forthcoming in The Economic Journal(1), suggests that current leasehold extension practices underestimate the value of many leasehold properties.  Dr Ted Pinchbeck, a Fellow in Real Estate Economics and Finance at LSE and one of the authors of the research, said: “Prices of leaseholds of different lengths provide direct new evidence on how people discount the very far future. Our results support the use of a time-declining discount rate, which is used for policy evaluation here in the UK, but not everywhere in the world. This kind of discount rate implies that people are actually willing to pay more or take action now to improve things in the distant future.

 

Related publications

‘The Time Value of Housing: Historical Evidence from London Residential Leases’, Philippe Bracke, Ted Pinchbeck and James Wyatt, SERC Discussion Paper No.168, December 2014

http://www.spatialeconomics.ac.uk/textonly/serc/publications/download/sercdp0168.pdf

'The Time Value of Housing: Historical Evidence on Discount Rates', Philippe Bracke, Ted Pinchbeck and James Wyatt, The Economic Journal, 21 March 2017

http://onlinelibrary.wiley.com/doi/10.1111/ecoj.12501/epdf


Related Links:
LSE News - People may be overpaying for lease extensions says LSE research

CEP Urban and Spatial Programme

Philippe Bracke webpage

Edward Pinchbeck webpage



News Posted: 11/07/2017      [Back to the Top]

Yahoo!Finance

Post-Brexit U.K. trade deal with Trump is easier said than done

“There are bigger potential gains from doing a deal with Europe than with the U.K. on its own, just because Europe is a bigger market,” said Thomas Sampson, an economist at the Centre for Economic Performance. “The flip side of that would be that because the U.K. is just one country rather than a block of 27 countries it should have more flexibility.”


Related Links:
Yahoo!Finance - Post-Brexit U.K. trade deal with Trump is easier said than done

CEP Trade

Thomas Sampson webpage



News Posted: 11/07/2017      [Back to the Top]

La Vanguaria

En salario que necesita unbarcelonés para vivir dignamente/The salary that a person living in Barcelona needs to be able to live in dignity


Related Links:
La Vanguaria - En salario que necesita unbarcelonés para vivir dignamente/The salary that a person living in Barcelona needs to be able to live in dignity

CEP Urban and Spatial Programme

Maria Sánchez-vidal webpage



News Posted: 10/07/2017      [Back to the Top]

el Vocero (Puerto Rico)

¿Riqueza o bienestar?/Wealth or wellbeing?

According to Richard Layard, one of the study's leaders, "evidence shows that the things that matter most to happiness and misery are social relationships and mental and physical health." In his view, this calls for a new role for the state, but not in the sense of "wealth creation," but in the "creation of welfare."

 

Associated article

Vox

Origins of happiness: Evidence and policy implications

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


Related Links:
el Vocero (Puerto Rico) - ¿Riqueza o bienestar?/Wealth or wellbeing?

CEP Wellbeing

Richard Layard webpage

David Clark webpage

Sarah Flèche webpage

Nattavudh Powdthavee webpage

George Ward webpage



News Posted: 10/07/2017      [Back to the Top]

dS De Standaard (The Netherlands)

Zwitserland is hset beste land ter wereld

In particular, Switzerland takes the first place on the list that the World Economic Forum (a Swiss setting) on the global competitiveness, and also on the list of most innovative countries by the French business school Insead. On another ranking of competitiveness, that of the also Swiss business school IMD, the Alpine country second. The list of human development of the UN is good for a third place, and on the list of most fortunate countries of the professors Jeffrey Sachs and Richard Layard pick up the Swiss a fourth place.

 

Related publications

World Happiness report (2017), John Helliwell, Richard Layard & Jeffrey Sachs.

http://worldhappiness.report/


Related Links:
dS De Standaard (The Netherlands) - Zwitserland is hset beste land ter wereld

CEP Wellbeing

Richard Layard webpage



News Posted: 10/07/2017      [Back to the Top]

CEP mentions on Twitter

Mike Gapes MP (Labour) retweeted LSE CEP

'Since 1993, rate of home ownership among Brits aged 20-29 has declined from 50% to only 20%, @CEP_LSE research… https://t.co/UiapxN8Rkf'.

 

  1. Mike Gapes Retweeted

Romesh Vaitilingam‏ @econromesh Jul 8

Since 1993, rate of home ownership among Brits aged 20-29 has declined from 50% to only 20%, @CEP_LSE research http://cep.lse.ac.uk/centrepiece/abstract.asp?index=5496 …pic.twitter.com/V6WO7SmVDw

18 replies 250 retweets 164 likes

Reply

18

Retweet

250

Retweeted

250

Like

164

Liked

164

 

Related publications

Home ownership and social mobility Jo Blanden and Stephen Machin. Article in CentrePiece Volume 22, Issue 2, Summer 2017

 


Related Links:
CEP mentions on Twitter - Mike Gapes MP (Labour) retweeted LSE CEP

CEP Labour Markets

Jo Blanden webpage

Stephen Machin webpage



News Posted: 09/07/2017      [Back to the Top]

BBC Radio 4

(21:17:57)

Snippet: ... signs of faltering market with a slight drop in house prices month on month quarter-on-quarter but they're still up on a year ago a man quoted in many areas house prices crash stories was Professor Paul Cheshire of the LSE he wasn't too pleased how his words had been used...

Click to open


Related Links:
CEP Urban and Spatial Programme

Paul Cheshire webpage



News Posted: 09/07/2017      [Back to the Top]

This is Money.co.uk

Homes on the brink: In the wake of dire warning on house market, fresh data shows prices slipping

Professor Paul Cheshire, who has advised the Government on housing policy, said: 'We are due a significant correction in house prices. I think we are beginning to see signs that correction may be starting.


Related Links:
This is Money.co.uk - Homes on the brink: In the wake of dire warning on house market, fresh data shows prices slipping

CEP Urban and Spatial Programme

Paul Cheshire webpage



News Posted: 09/07/2017      [Back to the Top]

The Metro

House prices slipping in wake of warning about market on verge of collapse

Speaking last week, Paul Cheshire, a former government housing adviser, also warned that the property market could tumble. ‘We are due a significant correction in house prices. I think we are beginning to see signs that correction may be starting,’ he said. ‘Historically, trends seem always to start in London and then move out across the rest of the country. In the capital, you are already seeing house prices rising less rapidly than in other parts of Britain.’


Related Links:
The Metro - House prices slipping in wake of warning about market on verge of collapse

CEP Urban and Spatial Programme

Paul Cheshire webpage



News Posted: 09/07/2017      [Back to the Top]

The Sun

Fresh fears of housing market collapse as new data suggests property prices are falling

Paul Cheshire, professor of Economic Geography at the London School of Economics, said: “We are due a significant correction in house prices.

“I think we are beginning to see signs that correction may be starting.”


Related Links:
The Sun - Fresh fears of housing market collapse as new data suggests property prices are falling

CEP Urban and Spatial Programme

Paul Cheshire webpage



News Posted: 09/07/2017      [Back to the Top]

The Sunday Times

For interest rates the only way is up. Act now to put your house in order

Paul Cheshire, professor of economic geography at the London School of Economics, made headlines last weekend by warning that house prices could be heading for “a significant correction” — of perhaps as much as 40%. Other commentators dismissed his claim as sensationalist, however.


Related Links:
The Sunday Times - For interest rates the only way is up. Act now to put your house in order

CEP Urban and Spatial Programme

Paul Cheshire webpage



News Posted: 09/07/2017      [Back to the Top]

Mail online

Homes on the brink: in the wake of dire warning on house market, fresh data shows prices slipping

House price data has so far suggested a softening in the market rather than a crash. However, The Mail on Sunday last weekend reported that Britain could be on the brink of a major 1990s-style house price collapse, according to an academic at the London School of Economics. Professor Paul Cheshire, who has advised the Government on housing policy, said: 'We are due a significant correction in house prices. I think we are beginning to see signs that correction may be starting.


Related Links:
Mail online - Homes on the brink: in the wake of dire warning on house market, fresh data shows prices slipping

CEP Urban and Spatial Programme

Paul Cheshire webpage



News Posted: 09/07/2017      [Back to the Top]

Romper

How to talk to someone about going to therapy and getting them the help they need

Mental health issues are often stigmatized, or even considered "made up illnesses." But according to a report by The Centre for Economic Performance’s Mental Health Policy Group at The London School of Economics and Political Science, mental illness is typically more debilitating than most chronic physical conditions. The report indicated that, on average, a person with depression is at least 50 percent more disabled than someone with angina, arthritis, asthma or diabetes.

Related publications

‘How Mental Illness Loses Out in the NHS’. A report by The Centre for Economic Performance’s Mental Health Policy Group, June 2012

http://cep.lse.ac.uk/pubs/download/special/cepsp26.pdf

In brief: Mental illness and the NHS by Richard Layard. Article in CentrePiece 17 (2) Autumn 2012


Related Links:
Romper - How to talk to someone about going to therapy and getting them the help they need

CEP Wellbeing

Richard Layard webpage



News Posted: 08/07/2017      [Back to the Top]

BBC Radio 4

Money Box Programme

Newspaper headlines this week have been shouting about a crash in the housing market. Massive collapse! Property prices could plunge! We hear from the man quoted in many of those stories, Professor Paul Cheshire of the London School of Economics, (who is not too pleased with how his thoughts have been represented) about what he thinks does lie ahead for house prices. And from property market analyst Kate Faulkner on the picture across the UK, and the housing bubble you may have missed.


Related Links:
BBC Radio 4 - Money Box Programme

CEP Urban and Spatial Programme

Paul Cheshire webpage



News Posted: 08/07/2017      [Back to the Top]

Building.co.uk

House prices rise 2.6% in past 12 months

Paul Cheshire, emeritus professor of economic geography at the London School of Economics, told Building: “There’s likely to be a downward correction of house prices, primarily because of decline in real incomes and the fact that the planning world and indeed the building world tend to act as if what determined demand for housing was household numbers and population.

“But that has quite amazingly little to do with demand, which is mainly determined in the long term by incomes,” he added.


Related Links:
Building.co.uk - House prices rise 2.6% in past 12 months

CEP Urban and Spatial Programme

Paul Cheshire webpage



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

FD.nl (The Netherlands)

Ranglijsten: Nederland handhaaft zich als een na beste land ter wereld (en loopt in op Zwitserland)/ Leaderboards: Netherlands maintains itself as a second-best country in the world (and walks in on Switzerland)

On the fifth list that I use for the rankings of the Netherlands increased rankings again though. Dutch were something happier and are now a position higher, at place 6 of the Happiness index of economists Richard Layard and Jeffrey Sachs. Only in Denmark, Iceland, Norway, Switzerland and Finland are the people still happier.

Related publications

World Happiness report (2017), John Helliwell, Richard Layard & Jeffrey Sachs.

http://worldhappiness.report/


Related Links:
FD.nl (The Netherlands) - Ranglijsten: Nederland handhaaft zich als een na beste land ter wereld (en loopt in op Zwitserland)/ Leaderboards: Netherlands maintains itself as a second-best country in the world (and walks in on Switzerland)

CEP Wellbeing

Richard Layard webpage



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

Forbes

Jobs up, unemployment rate up, here's why US economy has more room to grow

At which point a little thumbnail sketch of what we're worried about in the US labour market. Traditionally the US has had very little long term unemployment. Sure, the general rate rose in recessions, fell in the booms, but there has always been a difference with the European labour markets as my old professor, Richard Layard, points out: The evidence for the first proposition is everywhere around us. For example, Europe has a notorious unemployment problem. But if you break down unemployment into short term (under a year) and long-term, you find that short-term unemployment is almost the same in Europe as in the U.S. – around 4% of the workforce. But in Europe there are another 4% who have been out of work for over a year, compared with almost none in the United States. The most obvious explanation for this is that in the U.S. unemployment benefits run out after 6 months, while in most of Europe they continue for many years or indefinitely.

Related publications

‘Welfare-to-work and the New Deal’, Richard Layard, Centre for Economic Performance Occasional Paper No.15, January 2001

http://cep.lse.ac.uk/pubs/download/occasional/OP015.pdf


Related Links:
Forbes - Jobs up, unemployment rate up, here's why US economy has more room to grow

CEP Labour Markets

Richard Layard webpage



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

Blog-illusio.com

Comment la transmission de la politique monétaire américaine a changé au cours du temps/How the transmission of U.S. monetary policy has changed over time

Several empirical studies have sought to determine whether recent technological advances have reduced the aggregate demand for work or hindered wage growth. For example, Terry Gregory, Anna Salomons and Ulrich Zierahn (2016) felt that the negative effects of automating routine tasks on the medium-skilled jobs in Europe were offset by job creation through increased demand. By observing 17 European countries, Georg Graetz and Guy Michaels (2015) believe that the diffusion of industrial robots has stimulated labour productivity, added value, wages and overall factor productivity; It did not significantly affect the duration of the work, except perhaps for low-or medium-skilled workers. More pessimistic, Daron Acemoglu and Pascual Restrepo (2017) conclude on their side that robots can reduce employment and wages: in the United States, the addition of an industrial robot for a thousand workers reduced the employment-to-population ratio from 0.18 to 0.34 percentage points and salaries from 0.25 to 0.5%. Consider that the findings to which these studies are successful are, however, very difficult to generalise. Indeed, robots operate only in a limited set of industrial applications, mainly in heavy industry, or as the use of robots extends outside the industry, the impact that automation has on employment will be likely to change.

Related publications

Robots at work: the impact on productivity and jobs Georg Graetz and Guy Michaels. Article in


Related Links:
Blog-illusio.com - Comment la transmission de la politique monétaire américaine a changé au cours du temps/How the transmission of U.S. monetary policy has changed over time

Robots at work: the impact on productivity and jobs

CEP Labour Markets

Georg Graetz webpage

Guy Michaels webpage



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

BBC - capital

The many upsides of a happy workforce

There are many benefits to putting happiness at the centre of business and policy decisions, says economist Jan-Emmanuel De Neve, a professor at the University of Oxford’s Said Business School. He points to a 2014 study, which suggests that raising people’s happiness makes them more productive by between 7% and 12%.

Related publications: Does work make you happy?  Evidence from the World Happiness Report’, Jan-Emmanuel De Neve and George Ward, Harvard Business Review, March 20, 2017

 

 


Related Links:
BBC - capital - The many upsides of a happy workforce

CEP Wellbeing

Jan-Emmanuel De neve webpage

George Ward webpage



News Posted: 06/07/2017      [Back to the Top]

Financial Times

The ‘haves and have-mores' in digital America

Research from the Bonn-based Institute of Labor Economics shows that the differences in individual workers’ pay since the 1970s is associated with pay differences between — not within — companies. Another piece of research, from the Centre for Economic Performance, shows that this pay differential between top-tier companies and everyone else is responsible for the vast majority of inequality in the US.

Related publications

'Measuring Economic Policy Uncertainty', Scott R. Baker, Nicholas Bloom, Steven J. Davis, The Quarterly Journal of Economics, Vol 131, Issue 4, November 2016

Fluctuations in Uncertainty, Nicholas Bloom, Centre for Economic Performance Occasional Paper No.38, December 2013

Economic Recovery and Policy Uncertainty Scott R. Baker, Nick Bloom, Steven J. Davis and John Van Reenen, CEP US Election Analysis Paper No.2, October 2012

Policy Uncertainty: A New Indicator, Scott. R. Baker, Nicholas Bloom and Steven J. Davis.  Article in CentrePiece Volume 16, Issue 3, Winter 2012


Related Links:
Financial Times - The ‘haves and have-mores' in digital America

Fluctuations in Uncertainty

CEP Growth

Nick Bloom webpage

John Van reenen webpage



News Posted: 06/07/2017      [Back to the Top]

Lasiritide.it

Rettrice Unibas, 'L'Università è un ‘bene comune' della Basilicata'/ President Unibas, 'The university is a ' common good ' of Basilicata'

At the G7delle University, which took place recently in Udine, "I talked about the role of universities – concluded sun-in the development of the economic revival of the internal areas, as demonstrated by a recent study, published in November 2016, by Anna Valero of the London School of Economics, and John Van Reenen of the MIT Economics in Boston, entitled ' How the Universities stimulate economic growth ' : The authors show that the birth of a university is essential for the economic and social progress of a territory, resulting in an increase on the estimated income averaged in 0.4% ".

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


Related Links:
Lasiritide.it - Rettrice Unibas, 'L'Università è un ‘bene comune' della Basilicata'/ President Unibas, 'The university is a ' common good ' of Basilicata'

How universities boost economic growth

CEP Growth

Anna Valero webpage

John Van reenen webpage



News Posted: 06/07/2017      [Back to the Top]

Property Investor Today

London house prices are ‘vulnerable to an exceptionally painful correction'

Simon French of Panmure Gordon told the newspaper: “These prices are only sustainable in a world of permanently low interest rates and low unemployment. Any sharp correction in either the credit or the labour market has the capital’s housing market vulnerable to an exceptionally painful correction.” Gordon’s views are shared by various economists, including Paul Cheshire, a professor of economic geography at the London School of Economics, who earlier this week warned that home prices in London “are due a significant correction”.


Related Links:
Property Investor Today - London house prices are ‘vulnerable to an exceptionally painful correction'

CEP Urban and Spatial Programme

Paul Cheshire webpage



News Posted: 06/07/2017      [Back to the Top]

La Nacion

¿Riqueza o bienestar?/ Wealth or well-being?

According to a study by the London School of Economics (LSE), with the participation of the Organization for Economic Cooperation and Development, most human misery is not due to economic factors, but to failed relationships and physical and mental illness ..

According to Richard Layard, one of those responsible for the study, "the evidence shows that the things that matter most to happiness and misery are social relationships and mental and physical health." In his view, this demands a new role for the state, but not in the sense of "wealth creation", but in the sense of "welfare creation".                      

Related publications

World Happiness report Helliwell, J., Layard, R., & Sachs, J. (2017).

2017, New York: Sustainable Development Solutions Network.

http://worldhappiness.report/

 


Related Links:
La Nacion - ¿Riqueza o bienestar?/ Wealth or well-being?

CEP Wellbeing

Richard Layard webpage



News Posted: 06/07/2017      [Back to the Top]

Evening Standard

London house prices rise so fast they outstrip wages

Earlier this week Paul Cheshire, a professor of economic geography at the London School of Economics, gave a starker warning.  He said: “We are due a significant correction in house prices. I think we are beginning to see signs that correction may be starting.”


Related Links:
Evening Standard - London house prices rise so fast they outstrip wages

CEP Urban and Spatial Programme

Paul Cheshire webpage



News Posted: 05/07/2017      [Back to the Top]

LSE News

What can Brexit tell us about the white working class?

In the July episode of the #LSEIQ podcast we ask, ‘What can Brexit tell us about the white working class?’ One year on from the European Referendum, this demographic has been scrutinised for their role in the Leave vote. But were they really responsible for the 51.9 per cent vote to ‘Brexit’? If so, why did they vote that way? Helping to tackle the question are Dr Justin Gest co director of LSE’s Migration Studies Unit and Assistant Professor of Public Policy at George Mason University; Dr Lisa McKenzie, Fellow in LSE’s Department of Sociology, and; Dr Dennis Novy, an Associate Professor of Economics at the University of Warwick and an Associate at the Centre for Economic Performance at LSE.

Related podcast

LSE IQ Episode 4: What can Brexit tell us about the white working class?

Contributors: Justin Gest, Lisa McKenzie and Dennis Novy

http://www.lse.ac.uk/website-archive/newsAndMedia/videoAndAudio/channels/LSEIQ/player.aspx?id=3849


Related Links:
LSE News - What can Brexit tell us about the white working class?

CEP Trade

Dennis Novy webpage



News Posted: 05/07/2017      [Back to the Top]

Newsweek (Online)

Big houses in the U.S. are back (and there's a growing housing bubble)

Construction of McMansions has also increased but people who have smaller homes near where McMansions are built are much, much unhappier with their homes, according to a paper published in the spring by researcher Clement Bellet at the London School of Economics Centre for Economic Performance. As more McMansions are built, their presence pushes other Americans to build bigger and go further into debt.

Related publications

Superstar houses and the American mortgage frenzy, Clement Bellet. Article in CentrePiece Volume 22, Issue 1, Spring 2017


Related Links:
Newsweek (Online) - Big houses in the U.S. are back (and there's a growing housing bubble)

The Paradox of the Joneses: Superstar Houses and Mortgage Frenzy in Suburban America

CEP Wellbeing

Clement Bellet webpage



News Posted: 05/07/2017      [Back to the Top]

The Express

Britain on brink of WORST house price collapse since the 1990s, expert warns

HOUSE prices in Britain are close to a crash that could be as bad as the bust of the early 1990s, according to warnings from a leading economics expert

Paul Cheshire, Professor of Economic Geography at the London School of Economics claims the warning signs are clear, suggesting a plunge of at least 40 per cent. The warnings have led to an increased fear of the return of “negative equity”, in which the value of a property falls so far, it becomes less than the cost of the mortgage.


Related Links:
The Express - Britain on brink of WORST house price collapse since the 1990s, expert warns

The Paradox of the Joneses: Superstar Houses and Mortgage Frenzy in Suburban America

CEP Urban and Spatial Programme

Paul Cheshire webpage



News Posted: 05/07/2017      [Back to the Top]

LSE Business Review

The growing inequality between firms

Globalisation, technological progress and a range of policies and institutions are driving ‘Great Divergences’ in wages and productivity, write Giuseppe Berlingieri, Patrick Blanchenay and Chiara Criscuolo...

Related publications

The great divergence(s) Giuseppe Berlingieri, Patrick Blanchenay, Chiara Criscuolo.

12 May 2017. http://www.oecd-ilibrary.org/science-and-technology/the-great-divergence-s_953f3853-en


Related Links:
LSE Business Review - The growing inequality between firms

CEP Trade

Giuseppe Berlingieri webpage



News Posted: 05/07/2017      [Back to the Top]

Blog-illusio.com

La croissance de la productivité menace-t-elle l’emploi ? / Does productivity growth threaten employment?

Observing 17 European countries, Georg Graetz and Guy Michaels (2015) estimate that the diffusion of industrial robots has stimulated labor productivity, value added, wages and overall factor productivity; it did not significantly affect hours of work, except perhaps for low- and medium-skilled workers. 


Related Links:
Blog-illusio.com - La croissance de la productivité menace-t-elle l’emploi ? / Does productivity growth threaten employment?

Robots at work: the impact on productivity and jobs

CEP Labour Markets

Georg Graetz webpage

Guy Michaels webpage



News Posted: 04/07/2017      [Back to the Top]

LBC

[20:50:16]

9 o'clock if you have a health read then you can call us now and takes more calls as well on this issue of people fleeing the NHS but before that Sir rumours are continuing to circulate of the crash in house prices so let's talk to one expert who thinks this time it might actually happen It's Professor Paul Cheshire who's Professor of economic geography at the LSE former government housing adviser as well Professor Cheshire good evening Thank you very much for joining us so room lots of rumours in the last few days about a potential housing crash what's your opinion where I think it's this conditions probably ask for what I call a correction or down turning house prices in London and across England and lonely because of falling real incomes and when you look at what determines the demand for housing...


Related Links:
LBC - [20:50:16]

CEP Urban and Spatial Programme

Paul Cheshire webpage



News Posted: 04/07/2017      [Back to the Top]

Market Oracle

UK House Prices ‘On Brink' Of Massive 40% Collapse

Two leading economics professors have warned that the UK housing market is on the brink of a 40% collapse, echoing the early 1990s property crisis. “We are due a significant correction in house prices. I think we are beginning to see signs that correction may be starting” Paul Cheshire, a professor of economic geography at the London School of Economics told the Mail on Sunday. The sharp correction or crash may come about due to two primary factors – Brexit and a fall in real wages as they fail to keep pace with rising inflation.

Professor Christian Hilber and former Government housing adviser, and Professor Paul Cheshire warned that Brexit could be a catalyst for the correction which will see thousands of homeowners plunged into negative equity. Hilber warned that the crash will not be short and sharp: “If Brexit leads to a recession and/or sluggish growth for extended periods, then an extended and severe downturn is more likely than a short-lived and mild one.”


Related Links:
Market Oracle - UK House Prices ‘On Brink' Of Massive 40% Collapse

CEP Urban and Spatial Programme

Paul Cheshire webpage

Christian Hilber webpage



News Posted: 04/07/2017      [Back to the Top]

Ham and High

Comment: Could London property be about to blow?

Professor Paul Cheshire predicts London property is long overdue a price correction. But could values really fall 40 per cent and bring about the return of 1990s scale negative equity?


Related Links:
Ham and High - Comment: Could London property be about to blow?

CEP Urban and Spatial Programme

Paul Cheshire webpage

Christian Hilber webpage



News Posted: 04/07/2017      [Back to the Top]

Bullfax.com

UK house prices ‘on brink' of massive 40% collapse

Two leading economics professors have warned that the UK housing market is on the brink of a 40% collapse, echoing the early 1990s property crisis. "We are due a significant correction in house prices. I think we are beginning to see signs that correction may be starting” Paul Cheshire, a professor of economic geography at the London School of Economics told the Mail on Sunday. The sharp correction or crash may come about due to two primary factors - Brexit and a fall in real wages as they fail to keep pace with rising inflation. Despite these warnings following swiftly on the tail of recent poor housing market data, homeowners seem unfazed by what the future might hold, disregarding the parallels that are being drawn between today and the run up to the 1990s property crash. Brexit deals another blow Professor Christian Hilber and former Government housing adviser, and Professor Paul Cheshire warned that Brexit could be a catalyst for the correction which will see thousands of homeowners plunged into negative equity.


Related Links:
Bullfax.com - UK house prices ‘on brink' of massive 40% collapse

CEP Urban and Spatial Programme

Paul Cheshire webpage

Christian Hilber webpage



News Posted: 04/07/2017      [Back to the Top]

Yahoo! News

Big Houses in the U.S. Are Back (And There's a Growing Housing Bubble)

Construction of McMansions has also increased but people who have smaller homes near where McMansions are built are much, much unhappier with their homes, according to a paper published in the spring by researcher Clement Bellet at the London School of Economics Centre for Economic Performance.

 

 

Related publications

Centrepiece magazine ”Home ownership and social mobility” Volume 22, issue 2, Summer 2017. http://cep.lse.ac.uk/pubs/download/CentrePiece_22_2.pdf

 

“Superstar houses and the American mortgage frenzy” Clement Bellet , Centre Piece Summer 2017. http://cep.lse.ac.uk/pubs/download/cp498.pdf


Related Links:
Yahoo! News - Big Houses in the U.S. Are Back (And There's a Growing Housing Bubble)

The Paradox of the Joneses: Superstar Houses and Mortgage Frenzy in Suburban America

CEP Wellbeing

Clement Bellet webpage



News Posted: 04/07/2017      [Back to the Top]

Cambridge News

Brexit: Lower wages could cause drastic drop in house prices, experts say

Homeowners could see a sharp drop in the value of their houses because of Brexit paired with the wage drop, a London School of Economics professor predicts. Prices could fall almost 40 per cent and even put homeowners at risk of negative equity, meaning their home could be worth less than their mortgage, The Mirror reported. Professor Paul Cheshire, Professor of Economic Geography at LSE, said the property market could take a sharp downturn similar to the crash in the 1990s. He said house price can be affected when earnings drag behind inflation. Last month, inflation hit 2.9 per cent, while incomes grew by 2.1 per cent.


Related Links:
Cambridge News - Brexit: Lower wages could cause drastic drop in house prices, experts say

CEP Urban and Spatial Programme

Paul Cheshire webpage



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

The Times

Warning of severe house price crash

House prices may be on the brink of a severe crash, according to a former government housing adviser. Paul Cheshire, professor of economic geography at the London School of Economics, told The Mail on Sunday that the downturn could be severe enough to leave many homeowners in negative equity, with their houses valued at less than the mortgages they had taken out to pay for them.


Related Links:
The Times - Warning of severe house price crash

CEP Urban and Spatial Programme

Paul Cheshire webpage



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

The Observer

The Observer view on a crisis in mental health

The human condition today is ever more complex in an era of the internet, social media and the focus on status, appearance and material success. However, more is required as an antidote than early intervention, self-help and medication alone. As Richard Layard rightly argues in Happiness: Lessons from a New Science, a boost to serotonin and dopamine, both associated with mental wellbeing, is also provided by public policy that is judged on how it increases human happiness and reduces misery.

Related publications

Happiness Lessons from a New Science (Second Edition) Richard Layard, Penguin, 2011.


Related Links:
The Observer - The Observer view on a crisis in mental health

CEP Wellbeing

Richard Layard webpage



News Posted: 02/07/2017      [Back to the Top]

The Review of Economic Studies, Volume 84, Issue 3, July 2017

'High' Achievers? Cannabis Access and Academic Performance

Olivier Marie and Ulf Zölitz


Related Links:
The Review of Economic Studies, Volume 84, Issue 3, July 2017 - 'High' Achievers? Cannabis Access and Academic Performance

'High' Achievers? Cannabis Access and Academic Performance

CEP Education and Skills

Olivier Marie webpage



News Posted: 02/07/2017      [Back to the Top]

LBC

News (16:05:01)

Snippet: there are already warning signs that prices are heading toward a near 40% plunge Paul Cheshire Professor of economic geography at the London school of economics while here to debunk...
Click to open


Related Links:
CEP Urban and Spatial Programme

Paul Cheshire webpage



News Posted: 02/07/2017      [Back to the Top]

City A.M.

UK house prices: Is a crash coming? These economists thinks so, raising spectre of negative equity

Leading economists have warned that the UK is heading for a collapse in house prices not seen since the early 90s which risks plunging homeowners into negative equity. "We are due a significant correction in house prices. I think we are beginning to see signs that correction may be starting," said Paul Cheshire, a professor of economic geography at the London School of Economics, speaking to the Mail on Sunday and warning that they could fall as much as 40 per cent.


Related Links:
City A.M. - UK house prices: Is a crash coming? These economists thinks so, raising spectre of negative equity

CEP Urban and Spatial Programme

Paul Cheshire webpage



News Posted: 02/07/2017      [Back to the Top]

The Mirror

Experts predict house prices could plummet by up to 40 PER CENT due to Brexit and wage drop

House prices could plummet by almost 40 per cent as Britain faces a crash similar to that in the 1990s, a leading professor at the London School of Economics has warned. A possible Brexit -sparked recession coupled with a fall in real earnings, could cause a double blow to homeowners and put them at risk of 'negative equity' - meaning that the value of their home is less than the cost of their mortgage. Professor Paul Cheshire, Professor of Economic Geography at LSE, warned the property market could collapse as prices reflect the decline in earnings.


Related Links:
The Mirror - Experts predict house prices could plummet by up to 40 PER CENT due to Brexit and wage drop

CEP Urban and Spatial Programme

Paul Cheshire webpage



News Posted: 02/07/2017      [Back to the Top]

Lancaster online

Republicans are missing an opportunity on health care

A study by Zack Cooper, Martin Gaynor and John Van Reenen — economists at Yale, Carnegie Mellon University, and the London School of Economics, respectively — concludes that lack of competition and poor transparency in hospital costs are driving up U.S. health care prices.

 


Related Links:
Lancaster online - Republicans are missing an opportunity on health care

The Price Ain't Right? Hospital Prices and Health Spending on the Privately Insured

CEP Growth

Zack Cooper webpage

John Van reenen webpage



News Posted: 02/07/2017      [Back to the Top]

Mail online

Britain on the brink of the worst house price collapse since 1990s': experts predict property costs could plunge by forty per cent

House prices are teetering on the brink of a crash that could be as bad as the bust of the early 1990s, a leading expert has warned. There are already warning signs that prices are heading towards a near 40 per cent plunge, warns Paul Cheshire, Professor of Economic Geography at the London School of Economics. It raises the alarming spectre of the return of ‘negative equity’ – when a house falls so far in value it is worth less than the mortgage – which hit one million people at the worst point in the 1990s. Prof Christian Hilber of the LSE also warned: ‘If Brexit leads to a recession and/or sluggish growth for extended periods, then an extended and severe downturn is more likely than a short-lived and mild one.’


Related Links:
Mail online - Britain on the brink of the worst house price collapse since 1990s': experts predict property costs could plunge by forty per cent

CEP Urban and Spatial Programme

Paul Cheshire webpage

Christian Hilber webpage



News Posted: 01/07/2017      [Back to the Top]

IBS intelligence

Technology downtime is a major problem for the UK's banking sector

The average employee in the finance industry loses more than 20 minutes per day of productive time to faulty IT. This is ironic in a sector which has always been proud of its trail-blazing attitude to be an early-adopter to keep its competitive advantage. However, a critical new report released by Managed 24/7 says the impact of poor IT to the UK’s workforce productivity is considerable. UK economists have long been of the opinion that the country’s workforce is unproductive but few can agree on why.


Related Links:
IBS intelligence - Technology downtime is a major problem for the UK's banking sector

CEP Growth

John Van reenen webpage



News Posted: 30/06/2017      [Back to the Top]

BBC Parliament

Live House of Commons

…but analyses, London School of Economics, growth commission report pointed out the lack of a comprehensive and coherent, long-term industrial strategy from the UK Government had actually contributed to what they quoted as poor productivity performance, harming the nations of the UK. Isn't it time the UK Government and this Chancellor got to work in actually doing something to correct the problems they have caused for the economies of the nations of the UK? I agree with my colleague that it is too little, too late. In the time a British worker makes #1, the German worker makes #1 35 and not enough is being done. I understand the strategy is being consulted on. It has not received that favourable responses compared to previous things that have been done in relation to industrial strategy. I hope to see major changes as it goes forward in order that it is more fit for purpose. The Conservatives in this election failed to bolster their majority and they have had to…

Click to open

Related publications

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

 

Related links

LSE Growth Commission webpage:  http://www.lse.ac.uk/researchAndExpertise/units/growthCommission/home.aspx


Related Links:
BBC Parliament - Live House of Commons

CEP Growth



News Posted: 29/06/2017      [Back to the Top]

Reader's Digest

You'll be happiest during these two years of your life, according to science

According to new research, we’re happiest at two points in our lives—not just one. Researchers at the London School of Economics and Political Science asked 23,000 German volunteers aged 17 to 85 to rate their life satisfaction. Participants predicted how happy they would feel in five years, and then, after five years’ time, reported back on how they actually felt.


Related Links:
Reader's Digest - You'll be happiest during these two years of your life, according to science

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

CEP Wellbeing

Hannes Schwandt webpage



News Posted: 29/06/2017      [Back to the Top]

Stanford News

Survey finds Europeans favor fairness in allocating asylum seekers, Stanford researchers say

In research appearing this week in Nature Human Behaviour, Kirk Bansak, Jens Hainmueller and Dominik Hangartner of Stanford’s Immigration Policy Lab asked 18,000 European citizens their opinions on the issue.


Related Links:
Stanford News - Survey finds Europeans favor fairness in allocating asylum seekers, Stanford researchers say

CEP Community

Dominik Hangartner webpage



News Posted: 28/06/2017      [Back to the Top]

The UK in a Changing Europe

EU referendum: one year on - UK economic policy

Article by Dr Swati Dhingra

What form of relationship to have with the EU after Brexit is the key economic policy issue facing the UK. This election was meant to give the prime minister a strong mandate for a “hard Brexit”. The Conservative Party and the DUP, whose support will be necessary to allow Theresa May to continue as prime minister, agree on the main elements of UK’s future economic relationship with the EU.

Read the full report here.


Related Links:
The UK in a Changing Europe - EU referendum: one year on - UK economic policy

CEP Trade

Swati Dhingra webpage



News Posted: 28/06/2017      [Back to the Top]

The UK in a changing Europe (Kings College London)

EU referendum: one year on - trade and the single market

Article by Thomas Sampson

One year ago, the UK voted to leave the EU. However, voters did not choose what would come after Brexit.

Options for “life after Brexit”:  One option is to remain in the Single Market and preserve the free movement of goods, services, capital and labour with the EU. Another is to negotiate a bespoke trade agreement with the EU that keeps trade barriers as low as possible while ending labour mobility and giving the UK greater control over economic regulation. Finally, if no deal is reached, the UK and EU would trade under World Trade Organization (WTO) terms. This means the UK would have much the same economic relations with the EU as with non-EU countries such as the US or Japan. It would lead to tariffs on goods trade and reduced market access for service exporters. Each of these alternatives was endorsed by different factions of the Leave campaign prior to the referendum. Asking voters what they prefer does not resolve the conundrum: opinion polls show support for maintaining the benefits of Single Market membership. Yet polls also find support for taking back control by restricting immigration and removing the UK from the jurisdiction of the European Court of Justice (ECJ) (though see the section on public opinion).


Related Links:
The UK in a changing Europe (Kings College London) - EU referendum: one year on - trade and the single market

CEP Trade

Thomas Sampson webpage



News Posted: 28/06/2017      [Back to the Top]

Glamour (Spain)

La ciencia revela las 2 edades a las que somos más felices/Science reveals the two ages when we are happiest

There are many theories about the ages and the optimization of one or several vital aspects: there is an age for the body, another for the mind and, according to a new study, there is not one, but two ages for happiness: And it is the 23 and the 69.  According to a study conducted by the London School of Economics and Social science to more than 23,000 participants between 17 and 85 years were asked how happy they expected to be after 5 years and, after 5 years, were asked for their current degree of happiness.


Related Links:
Glamour (Spain) - La ciencia revela las 2 edades a las que somos más felices/Science reveals the two ages when we are happiest

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

CEP Wellbeing

Hannes Schwandt webpage



News Posted: 27/06/2017      [Back to the Top]

Business Insider UK

The Bank of England is preparing for the absolute worst case Brexit scenario

Under May's argument, Britain would drop out of the EU, immediately reverting to unfavourable WTO trade terms, if the country's negotiators failed to get an agreement seen as having favourable terms for the UK. May has widely been criticised for this approach, with a report from the London School of Economics earlier in June saying that failure to strike a deal with the European Union on trade during Brexit talks will lower income per household by at least £1,890 a year.

Related publications

‘Brexit and the UK Economy’, Swati Dhingra and Thomas Sampson, CEP 2017 General Election Analyses Paper No.40, 

http://cep.lse.ac.uk/pubs/download/ea040.pdf


Related Links:
Business Insider UK - The Bank of England is preparing for the absolute worst case Brexit scenario

CEP Trade

Swati Dhingra webpage

Thomas Sampson webpage



News Posted: 27/06/2017      [Back to the Top]

LSE Business Review blog

Post-Brexit work visa quotas on EU nationals will likely favour graduates

Businesses that rely on low-skilled EU labour may face hiring difficulties, writes Jonathan Wadsworth

Had things gone as most commentators expected, the UK would now be entering hard Brexit talks with the near certainty of leaving the single market and/or customs union and the consequent ending of free movement of people from the European Union. Two weeks later and that near certainty no longer seems as certain, with murmurings of a softer Brexit and the implication that allowing freer movement of labour from the EU may now be up for discussion.

Related publications

‘Immigration and the UK Economy’, Jonathan Wadsworth, CEP 2017 General Election Analyses Paper No. EA039, May 2017

http://cep.lse.ac.uk/pubs/download/ea039.pdf


Related Links:
LSE Business Review blog - Post-Brexit work visa quotas on EU nationals will likely favour graduates

CEP Labour Markets

Jonathan Wadsworth webpage



News Posted: 27/06/2017      [Back to the Top]

ESRC Press

Winner of the 25th Kenneth J. Arrow award

The 25th Arrow Award for the best paper in health economics is awarded to Martin Gaynor, Carol Propper, and [CEP Alumni]  Stephan Seiler for their paper “Free to choose? Reform, choice and consideration sets in the English National Health Service” American Economic Review 106(11): 3521-3557, 2016The Arrow Award Committee is proud to acknowledge the authors of this innovative and policy-relevant paper which uses a reform in the English National Health Service (NHS) to assess how removing constraints on patient choice affects the quality of health care received, as well as patient welfare. HEA’s Kenneth J. Arrow Award was created to recognize excellence in the field of health economics with the Award presented to the author(s) of the paper judged to be the best paper published in health economics in English in the award year.


Related Links:
ESRC Press - Winner of the 25th Kenneth J. Arrow award

Free to choose? The impact of healthcare reform

Free to Choose? Reform and Demand Response in the English National Health Service

CEP Growth



News Posted: 27/06/2017      [Back to the Top]

Guardian

Europeans back allocation of asylum seekers proportionally, study finds

“We asked people what kind of asylum system they want and what kind of asylum system they believe is fair, because back then [in 2016 when the survey was conducted], and still now, it is obvious that the current Dublin system is not working,” said Dominik Hangartner, co-author of the research from the London School of Economics.


Related Links:
Guardian - Europeans back allocation of asylum seekers proportionally, study finds

CEP Community

Dominik Hangartner webpage



News Posted: 26/06/2017      [Back to the Top]

LSE The education blog

Judith Shapiro and Steve Pischke on recommended summer reads

As has become the tradition for our last post of the academic year, we’re featuring summer reading recommendations from special people at LSE. This year, two winners of the LSESU Teaching Excellence Awards shared their picks with us.

Steve Pischke, Professor of Economics and Research Associate at the Centre for Economic Performance, Winner of LSESU Teaching Excellence Award for Research Guidance and Support

I am not sure my recent reading is all that good fare for the summer; in fact, it seems more appropriate for London’s November days. The last book I read was Walter Scheidel’s The Great Leveller, a history of inequality from the beginning of humanity to the present day. The author argues that inequality has always been increasing with the exception of periods of extreme violence: mass mobilisation warfare, bloody revolutions (the French one was too tame!), state collapse, and pandemics like the Black Death in the Middle Ages. For me this is the most provocative—and depressing—piece on inequality I have seen in a very long time, and this is a literature I follow as part of my day job. The descriptive account of what happened is most intriguing. Scheidel is weaker when he wants to be analytical and his writing does not rival the best.


Related Links:
LSE The education blog - Judith Shapiro and Steve Pischke on recommended summer reads

CEP Labour Markets CEP Wellbeing

Jörn-Steffen Pischke webpage



News Posted: 26/06/2017      [Back to the Top]

LaPrensa – Economia

El crecimiento de las empresas superestrellas/the rise of superstar companies In most countries, workers' participation in national income has fallen for about three decades. Why?

Article by John Van Reenen with Christina Patterson

Perhaps the cause is the "robbery-Apocalypse Now," that companies are replacing expensive people with cheaper machines.  We suggest another factor: the rise of superstar companies. Over the last 40 years, more industries have become the "winner takes almost Everything" type. Companies with advantage in costs or quality have always enjoyed higher market shares. But the new giants of our era are left with a much larger fraction of their markets (if not with everything). Think of Amazon.com, Apple and Google, or at Goldman Sachs and Wal-Mart.


Related Links:
LaPrensa – Economia - El crecimiento de las empresas superestrellas/the rise of superstar companies In most countries, workers' participation in national income has fallen for about three decades. Why?

The Fall of the Labor Share and the Rise of Superstar Firms

CEP Growth

John Van reenen webpage



News Posted: 26/06/2017      [Back to the Top]

Regio7

La polititzaci, una tesi incompleta i parcial per explicar la crisi dels bancs/ The politicization, an incomplete and partial thesis to explain the crisis of the banks

A study of professors Luis Garicano and Vicente Cuñat, of the London School of Economics, established in 2009, a relationship between a higher degree of politicization, less experience and a lower academic level of the directors of financial institutions with a higher propensity to incur management errors.


Related Links:
Regio7 - La polititzaci, una tesi incompleta i parcial per explicar la crisi dels bancs/ The politicization, an incomplete and partial thesis to explain the crisis of the banks

CEP Growth

Luis Garicano webpage



News Posted: 26/06/2017      [Back to the Top]

Financial Times

Overworked staff still love their bosses

Encouraging better work-life balance does not lead to higher productivity, academics at London School of Economics found. Neither does forcing workers into miserable servitude.

Related publications

‘Work Life Balance, Management Practices and Productivity’, Nicholas Bloom, Toby Kretschmer and John Van Reenen, Report from the Anglo-German Foundation, ESRC, Advanced Institute of Management Research and CEP, January 2006

http://cep.lse.ac.uk/management/worklifebalance_research.pdf


Related Links:
Financial Times - Overworked staff still love their bosses

CEP Growth

Nick Bloom webpage

John Van reenen webpage



News Posted: 26/06/2017      [Back to the Top]

Kashmir Observer

How Mobile Phones (Mis)Use Is Affecting Our Health and Social Fabric

There are other consequences of using mobile phones as well. A research published by London School of Economics argues that banning pupils from carrying mobile phones in schools showed a sustained improvement in exam results, with the biggest advances coming from struggling students.

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


Related Links:
Kashmir Observer - How Mobile Phones (Mis)Use Is Affecting Our Health and Social Fabric

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

CEP Education and Skills

Richard Murphy webpage



News Posted: 25/06/2017      [Back to the Top]

4-traders

MORGAN STANLEY : Britain's financial power already on the wane

Among the matters at stake in those talks, which began in Brussels last Monday, is whether London can maintain its status as a global hub for finance after Brexit or be forced to watch as business flows to the continent or New York. Such an exodus would jeopardise an industry responsible for nearly a 10th of the economy and some 1.1 million jobs. “There will be a lot of political pressure to get as much of the finance industry moved to the EU as possible,” said Tom Kirchmaier, a fellow in the financial-markets group at the London School of Economics. “The big question will be what the final role of the City will be in Europe.”


Related Links:
4-traders - MORGAN STANLEY : Britain's financial power already on the wane

CEP Labour Markets CEP Community

Tom Kirchmaier webpage



News Posted: 25/06/2017      [Back to the Top]

Bloomberg Business Week

Britain's financial power is already seeping away

“There will be a lot of political pressure to get as much of the finance industry moved to the EU as possible,” said Tom Kirchmaier, a fellow in the financial-markets group at the London School of Economics.


Related Links:
Bloomberg Business Week - Britain's financial power is already seeping away

CEP Community CEP Labour Markets

Tom Kirchmaier webpage



News Posted: 23/06/2017      [Back to the Top]

Bloomberg Business Week

Britain’s Financial Power Is Already Seeping Away

“There will be a lot of political pressure to get as much of the finance industry moved to the EU as possible,” said Tom Kirchmaier, a fellow in the financial-markets group at the London School of Economics.


Related Links:
Bloomberg Business Week - Britain’s Financial Power Is Already Seeping Away

CEP Labour Markets CEP Community

Tom Kirchmaier webpage



News Posted: 23/06/2017      [Back to the Top]

La Voce

Quando la mobilità del lavoro fa la differenza/When labour mobility makes the difference

What explains this persistence? The results of our recent work suggest some considerations.

The evolution of economic activity throughout the country has systematically favoured at the expense of other areas. For territories that have experienced positive changes in the demand for local work was higher the chance to learn about other positive changes in later times. And vice versa. The phenomenon is not a distinctive feature of our country. On the contrary, it seems stronger in other countries (such as the United States, see a recent work of Michel Amior and Alan Manning).


Related Links:
La Voce - Quando la mobilità del lavoro fa la differenza/When labour mobility makes the difference

The Persistence of Local Joblessness

CEP Community

Michael Amior webpage

Alan Manning webpage



News Posted: 23/06/2017      [Back to the Top]

Forbes (Mexico)

La derrota de los pequeños/The defeat of the little ones

In a recent working paper presented by MIT, John Van Reenen and his co-authors document a clear global trend towards the fall in the share of income from Labour in total income.


Related Links:
Forbes (Mexico) - La derrota de los pequeños/The defeat of the little ones

The Fall of the Labor Share and the Rise of Superstar Firms

CEP Growth

John Van reenen webpage



News Posted: 23/06/2017      [Back to the Top]

Time

The continuing urgency of the Grenfell Tower inferno

In the days since the fire, Grenfell Tower has been held up as a tragic symbol of the social ills facing Britain: a detached political class; nearly seven years of a government-led austerity program that has sliced through the country’s welfare state; rising socioeconomic disparities; and a hastening decline in living standards. The U.K. has seen the biggest drop in average real wages in OECD countries except for Greece, according to an analysis by the London School of Economics’ Centre for Economic Performance.

Related publications

‘Real wages and living standards in the UK’. Rui Costa and Stephen Machin, CEP 2017 General Election Analyses Paper No. 036, May 2017

http://cep.lse.ac.uk/pubs/download/ea036.pdf


Related Links:
Time - The continuing urgency of the Grenfell Tower inferno

CEP Education and Skills CEP Labour Markets

Rui Costa webpage

Stephen Machin webpage



News Posted: 23/06/2017      [Back to the Top]

Stanford Business Insights

Why working from home is a 'future-looking technology'

Nick Bloom – a Stanford GSB expert shows how companies and employees benefit from workplace flexibility.

Related publications

Does working from home work? Evidence from a Chinese experiment, Nicholas Bloom, James Liang, John Roberts and Zhichun Jenny Ying, Quarterly Journal of Economics, 130(1), February 2015

http://bit.ly/2tCwyah


Related Links:
Stanford Business Insights - Why working from home is a 'future-looking technology'

Does Working from Home Work? Evidence from a Chinese Experiment

CEP Growth

Nick Bloom webpage



News Posted: 22/06/2017      [Back to the Top]

Stanford Business Insights

Why working from home is a 'future-looking technology'

Stanford Graduate School of Business professor Nicholas Bloom says requiring employees to be in the office is an outdated work tradition, set up during the Industrial Revolution. Such inflexibility ignores today’s sophisticated communications methods and long commutes, and actually hurts firms and employees. “Working from home is a future-looking technology,” Bloom told an audience during TEDxStanford, which took place in April. “I think it has enormous potential.” To test his claim, Bloom studied China’s largest travel agency, Ctrip. Headquartered in Shanghai, the company has 20,000 employees and a market capitalization of about $20 billion.


Related Links:
Stanford Business Insights - Why working from home is a 'future-looking technology'

Does Working from Home Work? Evidence from a Chinese Experiment

CEP Growth

Nick Bloom webpage



News Posted: 22/06/2017      [Back to the Top]

UOL Economia

Empresas enfrentam Brexit com ‘espirito de buldogue'/Companies face Brexit with ‘bulldog spirit'

"It's not a catastrophic madness, but the pound fell, investments decreased and inflation reached the highest rate in four years," said Swati Dhingra, economist at the Center for Economic Performance in London. "But I totally disagree with the idea that we err - the overwhelming consensus is that Brexit will be nesting in the long term."


Related Links:
UOL Economia - Empresas enfrentam Brexit com ‘espirito de buldogue'/Companies face Brexit with ‘bulldog spirit'

CEP Trade

Swati Dhingra webpage



News Posted: 22/06/2017      [Back to the Top]

Bloomberg news

Brexit one year on: keep calm and hedge the pound

‘It’s not crazy catastrophic stuff, but the pound has fallen, investment is down, and inflation is up to a four-year high,” said Swati Dhingra, an economist at the Center for Economic Performance in London.  “But I totally disagree with the idea that we got it wrong – the overwhelming consensus is that Brexit will be damaging over the long term.”


Related Links:
Bloomberg news - Brexit one year on: keep calm and hedge the pound

CEP Trade

Swati Dhingra webpage



News Posted: 22/06/2017      [Back to the Top]

The Herald

Choppy year could be calm before Brexit storm

Swati Dhingra, of the LSE, said: “There is near consensus among economists that the hard – or chaotic – form of Brexit…would hurt the UK economy. Although there was little immediate economic fallout from the Brexit vote, in the first quarter of this year UK economic growth was the slowest of any EU economy. … Mrs May insists “no deal is better than a bad deal” — but no deal could spell “chaos”, economists said. Thomas Sampson, of the London School of Economics (LSE), said: “Progress will require the UK to make concessions. Possible concessions include making payments to the EU budget, agreeing EU regulations will continue to apply in some industries, and guaranteeing immigration rights for EU citizens offered a job in the UK. “The UK has a weaker negotiating position than the EU, so even with these concessions it is unlikely to achieve all its objectives. “But refusing to compromise will guarantee failure. “Research estimates that leaving the EU without a deal could reduce UK income per capita by up to 10 per cent in the worst-case scenario.”

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.1, February 2016

Four principles for the UK's Brexit trade negotiations Thomas Sampson, CEP Brexit Analysis Paper No.9, October 2016


Related Links:
The Herald - Choppy year could be calm before Brexit storm

CEP Trade

Swati Dhingra webpage

Thomas Sampson webpage



News Posted: 22/06/2017      [Back to the Top]

South China Morning Post

On track: remote monitoring and artificial intelligence ensure more efficient railway systems along belt and road routes

High-speed rail has triggered a wave of innovation , according to a London School of Economics and Political Science discussion paper by Lin Yatang, Qin Yu and Xie Zhuan, which describes a 20 per cent increase in patent applications after 2004, when high-speed technology from Europe began.

 

Related publications

'High-speed rail in China', Lin Yatang, Qin Yu and Xie Zhuan. Article in CentrePiece Volume 21, Issue 2, Autumn 2016

http://cep.lse.ac.uk/pubs/download/cp484.pdf


Related Links:
South China Morning Post - On track: remote monitoring and artificial intelligence ensure more efficient railway systems along belt and road routes

CEP Trade



News Posted: 21/06/2017      [Back to the Top]

The Herald

Herald View: Holyrood's role means hard Brexit is dead and buried

But the greatest potential trouble is on Brexit, with the constitutional uncertainty growing and economists laying out this week just what a hard or chaotic Brexit could mean for the economy: the pound dropping even further, falling wages and more businesses leaving the UK. And yet the Government still appears to believe that no deal is an option even though the London School of Economics suggests that leaving the EU without one could reduce UK income per capita by up to 10 per cent.

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, Centre for Economic Performance Brexit Analysis Paper No.8, June 2016

http://cep.lse.ac.uk/pubs/download/brexit08_book.pdf


Related Links:
The Herald - Herald View: Holyrood's role means hard Brexit is dead and buried

CEP Trade CEP Growth

Holger Breinlich webpage

Swati Dhingra webpage

Hanwei Huang webpage

Gianmarco Ottaviano webpage

Thomas Sampson webpage

John Van reenen webpage

Jonathan Wadsworth webpage



News Posted: 21/06/2017      [Back to the Top]

South China Morning Post

On track: remote monitoring and artificial intelligence ensure more efficient railway systems along belt and road routes

High-speed rail has triggered a wave of innovation , according to a London School of Economics and Political Science discussion paper by Lin Yatang, Qin Yu and Xie Zhuan, which describes a 20 per cent increase in patent applications after 2004, when high-speed technology from Europe began.

Related publications

'High-speed rail in China', Lin Yatang, Qin Yu and Xie Zhuan. Article in CentrePiece Volume 21, Issue 2, Autumn 2016

http://cep.lse.ac.uk/pubs/download/cp484.pdf


Related Links:
South China Morning Post - On track: remote monitoring and artificial intelligence ensure more efficient railway systems along belt and road routes

CEP Trade



News Posted: 21/06/2017      [Back to the Top]

Eurasia Review

Will Brexit lead to financial big bang for EU-27? - Analysis

Many commentators are throwing out numbers about the negative impact of Brexit on GDP growth and income across Europe. The Center for Economic Performance has concluded that every EU member will lose income after Brexit, but that the loss for the UK will be about twice the loss for the remaining 27 members combined.

Related publications

‘The consequences of Brexit for UK trade and living standards’, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, CEP Brexit Analysis Paper No.2, March 2016

http://cep.lse.ac.uk/pubs/download/brexit02.pdf


Related Links:
Eurasia Review - Will Brexit lead to financial big bang for EU-27? - Analysis

CEP Trade CEP Growth

Swati Dhingra webpage

Gianmarco Ottaviano webpage

Thomas Sampson webpage

John Van reenen webpage



News Posted: 20/06/2017      [Back to the Top]

24 heures

La question des Européens au Royaume-Uni/ The question of Europeans in the United Kingdom

BrexitAlors que les négociations sur le Brexit s'ouvrent lundi, quel sort attend les plus de 3,6 millions d'Européens au Royaume-Uni?/ BrexitAlors that the negotiations on the Brexit open Monday, what fate awaits the more than 3.6 million Europeans in the UK?

Some also accuse European immigrants of having contributed to lowering wages. But according to Jonathan Wadsworth, author of a report on the subject for the London School of Economics, "All studies show that immigration has no impact on the level of wages or in a very marginal way".

Related publications

‘Immigration and the UK Economy’, Jonathan Wadsworth, CEP 2017 General Election Analyses Paper No. EA039, May 2017

http://cep.lse.ac.uk/pubs/download/ea039.pdf


Related Links:
24 heures - La question des Européens au Royaume-Uni/ The question of Europeans in the United Kingdom

CEP Labour Markets

Jonathan Wadsworth webpage



News Posted: 19/06/2017      [Back to the Top]

Foreign Policy Research Institute

Will Brexit Lead to a Financial Big Bang for the EU-27?

Many commentators are throwing out numbers about the negative impact of Brexit on GDP growth and income across Europe. The Center for Economic Performance has concluded that every EU member will lose income after Brexit, but that the loss for the UK will be about twice the loss for the remaining 27 members combined. However, a lot depends (as ever when economics is involved) on what data you look at, as well as on what deals and Euro-fudge the politicians come up with in the coming months.

Also in

Eurasiareview.com http://www.eurasiareview.com/20062017-will-brexit-lead-to-financial-big-bang-for-eu-27-analysis/

Related publications
'The consequences of Brexit for UK trade and living standards',
Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen. CEP Brexit Analysis No. 2. March 2016.
http://cep.lse.ac.uk/pubs/download/brexit02.pdf

 


Related Links:
Foreign Policy Research Institute - Will Brexit Lead to a Financial Big Bang for the EU-27?

CEP Trade CEP Growth CEP Labour Markets

John Van reenen webpage

Swati Dhingra webpage

Gianmarco Ottaviano webpage

Thomas Sampson webpage



News Posted: 19/06/2017      [Back to the Top]

Communist Party of Vietnam Online Newspaper

European citizens living in the UK: a priority, many worry

Some also accuse European immigrants of having contributed to lowering wages. But according to Jonathan Wadsworth, author of a report on the subject for the London School of Economics, "All studies show that immigration has no impact on the level of wages or in a very marginal way".

Related publications

‘Immigration and the UK Economy’, Jonathan Wadsworth, CEP 2017 General Election Analyses Paper No. EA039, May 2017

http://cep.lse.ac.uk/pubs/download/ea039.pdf


Related Links:
Communist Party of Vietnam Online Newspaper - European citizens living in the UK: a priority, many worry

CEP Labour Markets

Jonathan Wadsworth webpage



News Posted: 18/06/2017      [Back to the Top]

Diario Gestión (Spain)

Los Europeos en el Reino Unido: una prioridad, muchas inquietudes/Europeans in the UK: a priority, many concerns

Another recurring argument is that immigrants lower wages, a thesis that resists analyses. "All studies show that immigration has no impact on the wage level, or has it in a very marginal way," insisted Jonathan Wadsworth, author of a study on this topic for the London School of Economics (LSE).

Related publications

‘Immigration and the UK Economy’, Jonathan Wadsworth, CEP 2017 General Election Analyses Paper No. EA039, May 2017

http://cep.lse.ac.uk/pubs/download/ea039.pdf


Related Links:
Diario Gestión (Spain) - Los Europeos en el Reino Unido: una prioridad, muchas inquietudes/Europeans in the UK: a priority, many concerns

CEP Labour Markets

Jonathan Wadsworth webpage



News Posted: 17/06/2017      [Back to the Top]

Le Quotidien (Luxembourg)

Brexit : quel avenir pour les expatriés européens au Royaume-Uni?/What future for the European expatriates in the United Kingdom?

Some also accuse the European immigrants have contributed to depress wages. But according to Jonathan Wadsworth, author of a report on the subject for the London School of Economics, "all the studies show that immigration has no impact on the level of wages or so very marginally."

Related publications

‘Immigration and the UK Economy’, Jonathan Wadsworth, CEP 2017 General Election Analyses Paper No. EA039, May 2017

http://cep.lse.ac.uk/pubs/download/ea039.pdf


Related Links:
Le Quotidien (Luxembourg) - Brexit : quel avenir pour les expatriés européens au Royaume-Uni?/What future for the European expatriates in the United Kingdom?

CEP Labour Markets

Jonathan Wadsworth webpage



News Posted: 17/06/2017      [Back to the Top]

Journal Dunet (France)

Les Européens au Royaume-Uni: une priorité, beaucoup d'inquiétudes/Europeans in the United Kingdom: a priority, a lot of concern

Some also accuse European immigrants of having contributed to lowering wages. But according to Jonathan Wadsworth, author of a report on the subject for the London School of Economics, "All studies show that immigration has no impact on the level of wages or in a very marginal way".

See Also:

Lemainelibre.fr (France)

Les Européens au Royaume-Uni: une priorité, beaucoup d'inquiétudes/Europeans in the United Kingdom: a priority, a lot of concern

 

Related publications

‘Immigration and the UK Economy’, Jonathan Wadsworth, CEP 2017 General Election Analyses Paper No. EA039, May 2017

http://cep.lse.ac.uk/pubs/download/ea039.pdf


Related Links:
Journal Dunet (France) - Les Européens au Royaume-Uni: une priorité, beaucoup d'inquiétudes/Europeans in the United Kingdom: a priority, a lot of concern

CEP Labour Markets

Jonathan Wadsworth webpage



News Posted: 17/06/2017      [Back to the Top]

Mdz

¡Que vienen los robots!/The robots are coming!

Of made, in one of the pioneers on the subject drawn up by Georg Graetz and Guy Michaels in 2015 and in which analyzed data from 17 countries advanced from 1993 to 2007, found that, as seen in the following image, there were more increased the "density of Robotics" (i.e., the number of robots per million hours worked) increased to a greater extent both the labor productivity and value added per worker. Also the total productivity factor (TFP), as well as media workers wages did.

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


Related Links:
Mdz - ¡Que vienen los robots!/The robots are coming!

Flooded Cities

CEP Labour Markets

Georg Graetz webpage

Guy Michaels webpage



News Posted: 16/06/2017      [Back to the Top]

QJE Highly Cited Articles

The Quarterly Journal of Economics received an Impact Factor of 6.662 and a 5-year Impact Factor of 9.681, according to the most recent Journal Citation Reports® (Thomson Reuters).

The Impact Factor is the average number of times articles from the journal published in the past two years have been cited in the JCR year. The Impact Factor is calculated by dividing the number of citations in the JCR year by the total number of articles published in the two previous years. The five-year Impact Factor is calculated in the same way as the standard Impact Factor, except the standard two-year window for inclusion of articles is extended to five years.

OUP has granted free access to five highly cited articles from The Quarterly Journal of Economics for a limited time. These articles are just a sample of the impressive body of research from The Quarterly Journal of Economics that contributes to the Impact Factor.

Highly Cited Articles published in 2016

‘Measuring Economic Policy Uncertainty’, Scott R. Baker, Nicholas Bloom, and Steven J. Davis, The Quarterly Journal of Economics 131 (4): 1593-1636

https://academic.oup.com/qje/article-lookup/doi/10.1093/qje/qjw024

doi: https://doi.org/10.1093/qje/qjw024


Related Links:
QJE Highly Cited Articles - The Quarterly Journal of Economics received an Impact Factor of 6.662 and a 5-year Impact Factor of 9.681, according to the most recent Journal Citation Reports® (Thomson Reuters).

Measuring Economic Policy Uncertainty

CEP Growth

Nick Bloom webpage



News Posted: 16/06/2017      [Back to the Top]

CEP and latest Impact Factors

Economics Impact Factors

The latest Impact Factors have now been released and it has been a great year for Oxford University Press’s economics journals. To celebrate this success we have collated a collection of highly cited articles from a selection of our journals. This collection is freely available to be read online until the 31st December 2017.

The Quarterly Journal of Economics – 6.662

See:

Does Working from Home Work? Evidence from a Chinese Experiment Nicholas Bloom, James Liang, John Roberts, Zhichun Jenny Ying

 

Related publications

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

http://cep.lse.ac.uk/pubs/download/dp1194.pdf

 

The Review of Economic Studies – 4.030

See:

The Impact of Competition on Management Quality: Evidence from Public Hospitals  Nicholas Bloom, Carol Propper, Stephan Seiler, John Van Reenen

 

Related publications

‘The Impact of Competition on Management Quality: Evidence from Public Hospitals’, Nicholas Bloom, Carol Propper, Stephan Seiler and John Van Reenen, Centre for Economic Performance Discussion Paper No.983, November 2014

http://cep.lse.ac.uk/pubs/download/dp0983.pdf

 

Journal of the European Economic Association – 2.758

See:

Unemployed but Optimistic: Optimal Insurance Design with Biased Beliefs Johannes Spinnewijn

 


Related Links:
CEP and latest Impact Factors - Economics Impact Factors

Does Working from Home Work? Evidence from a Chinese Experiment

CEP Growth CEP Labour Markets

Nick Bloom webpage

John Van reenen webpage

Johannes Spinnewijn webpage



News Posted: 16/06/2017      [Back to the Top]

CEP reports

‘EU referendum: One year on'. Report from The UK in a Changing Europe and the Political Studies Association, June 2017

‘EU referendum: One year on’. Report from The UK in a Changing Europe and the Political Studies Association, June 2017

Articles within the report:

‘Trade and the Single Market’, Thomas Sampson, EU referendum: One year on, pp.32-33

‘UK economic policy’, Swati Dhingra, EU referendum: One year on, pp.36-37


Related Links:
CEP reports - ‘EU referendum: One year on'. Report from The UK in a Changing Europe and the Political Studies Association, June 2017

CEP Trade

Swati Dhingra webpage

Thomas Sampson webpage



News Posted: 16/06/2017      [Back to the Top]

Politikon (Spain)

¡Que vienen los robots!/The robots are coming!

In fact, in one of the pioneering works on the topic developed by Georg Graetz and Guy Michaels in 2015 and analyzing data from 17 advanced countries from 1993 to 2007, find that, as seen in the following image, where more increased "robotic density" (ie, the number of robots per million hours worked) Increased both labour productivity and added value per worker. So did the total productivity of the factors (TFP), as well as the average salaries of the workers. This increasingly accused use of robots leads them to estimate that the robotization has contributed more than one tenth to the added growth during those 15 years, a negligible figure.

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


Related Links:
Politikon (Spain) - ¡Que vienen los robots!/The robots are coming!

Robots at work: the impact on productivity and jobs

CEP Labour Markets

Georg Graetz webpage

Guy Michaels webpage



News Posted: 16/06/2017      [Back to the Top]

Politikon (Spain)

¡Que vienen los robots!/The robots are coming!

In fact, in one of the pioneering works on the topic developed by Georg Graetz and Guy Michaels in 2015 and analyzing data from 17 advanced countries from 1993 to 2007, find that, as seen in the following image, where more increased "robotic density" (ie, the number of robots per million hours worked) Increased both labour productivity and added value per worker

 

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

/


Related Links:
Politikon (Spain) - ¡Que vienen los robots!/The robots are coming!

Robots at work: the impact on productivity and jobs

CEP Labour Markets

Georg Graetz webpage

Guy Michaels webpage



News Posted: 16/06/2017      [Back to the Top]

Korea Herald

How Macron keeps winning

By Philippe Aghion and Benedicte Berner 

Emmanuel Macron’s one-man revolution in French and European politics continued this weekend, as he will soon be able to add a huge parliamentary majority to his cause, if the results from the first round of the French parliamentary election hold. Such an outcome appears to be very likely...


Related Links:
Korea Herald - How Macron keeps winning

CEP Growth

Philippe Aghion webpage



News Posted: 15/06/2017      [Back to the Top]

Financial Times

Brexit exacts a heavy toll on UK business schools

France and Spain sense an opportunity as top professors seek employment outside Britain

Luis Garicano arrived in the UK a decade ago to take up the role of professor of economics and strategy in the department for management at the London School of Economics. Today, he is preparing to return home to Spain, where he will join Madrid’s IE Business School as a member of faculty and to lead its newly created centre for the digital economy. “Spain is open to business and open to foreigners in a way the UK no longer is,” he says. “There is no anti-immigrant party in Spain.” One year after UK voters decided by referendum to leave the EU, business schools find their academics are quitting to work in other European countries.


Related Links:
Financial Times - Brexit exacts a heavy toll on UK business schools

CEP Growth

Luis Garicano webpage



News Posted: 15/06/2017      [Back to the Top]

UniteWorks – Unite the Union

Unite warns of deepening Tory ‘wage pain' as average wages continue to fall

Theresa May and the Tories’ ‘wage pain’ is leaving millions of people struggling to make ends meet warned Britain’s largest union, Unite as official figures out today (Wednesday 14 June) showed a deepening wage squeeze. Official labour market figures out today showed that average earnings, excluding bonuses, fell in real terms by 0.6 per cent compared to a year earlier. The figures follow an analysis by the London School of Economics of OECD data showing the UK had suffered the biggest drop in average wages between 2007 and 2015 of any developed country except austerity-ravaged Greece.

Related publications

‘Real wages and living standards in the UK’. Rui Costa and Stephen Machin, CEP 2017 General Election Analyses Paper No. 036, May 2017

http://cep.lse.ac.uk/pubs/download/ea036.pdf


Related Links:
UniteWorks – Unite the Union - Unite warns of deepening Tory ‘wage pain' as average wages continue to fall

CEP Labour Markets CEP Education and Skills

Rui Costa webpage

Stephen Machin webpage



News Posted: 14/06/2017      [Back to the Top]

Business 2 Community

Why Are Monopolies Bad? An Analysis of 6 Rise-and-Fall Companies

According to Professor Jeremiah Dittmar of the London School of Economics, writing in 2011, European cities which adopted the printing press experienced 60% higher economic growth than those which didn’t buy into the technology from 1450 to 1600. Ironically, in the context of this article, the printing press itself was monopolistic as the knowledge of materials was quasi-proprietary:

Related publications

‘Information Technology and Economic Change: The Impact of The Printing Press’, Jeremiah Dittmar, The Quarterly Journal of Economics (2011) 126 (3): 1133-1172

http://bit.ly/2rv5Ks0

 

Related article

‘Information technology and economic change: the impact of the printing press’, Jeremiah Dittmar, Vox article, 11 February 2011

http://voxeu.org/article/information-technology-and-economic-change-impact-printing-press


Related Links:
Business 2 Community - Why Are Monopolies Bad? An Analysis of 6 Rise-and-Fall Companies

CEP Growth CEP Trade

Jeremiah Dittmar webpage



News Posted: 14/06/2017      [Back to the Top]

The i Paper

How many young people actually turned out to vote?

Snippet: ... Analysis from the London School of Economics shows that constituents with more young voters experienced marked increases in turnout compared to the 2015 election. Similar analysis has shown that the change in turnout this election is related to  areas with high numbers of graduates.

Related article

‘Who swung GE2017: young voters turning out, or older voters not?’, Thiemo Fetzer, LSE British Politics and Policy blog, June 11, 2017

http://blogs.lse.ac.uk/politicsandpolicy/who-swung-ge2017/?utm_content=buffer65f4e&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer


Related Links:
The i Paper - How many young people actually turned out to vote?

CEP Urban and Spatial Programme

Thiemo Fetzer webpage



News Posted: 14/06/2017      [Back to the Top]

Project Syndicate

How Macron keeps winning

Article by Philippe Aghion and Benedicte Berner

Emmanuel Macron’s one-man revolution in French and European politics continued this weekend, as he will soon be able to add a huge parliamentary majority to his cause, if the results from the first round of the French parliamentary election hold. Such an outcome appears to be very likely. Eliminating the old “right-left” divide in French politics by uniting “reformists” of the left, the right, and the center, was the challenge that Macron set for himself when he created his En Marche! movement in April 2016 as part of his bid for the French presidency. The result of the first round of elections to the National Assembly is the clearest indication yet of how successful Macron has been in recasting French politics.


Related Links:
Project Syndicate - How Macron keeps winning

CEP Growth

Philippe Aghion webpage



News Posted: 13/06/2017      [Back to the Top]

Financial Express (India)

UK election result 2017: With Theresa May dependent on DUP, Brexit negotiations become more difficult

But this election turned out to be much more than Brexit. “Economics is as much about humanity as policy”. Professor Swati Dhingra of the London School of Economics, in her article Salvaging Brexit, had written about the “long years of economic neglect”, leading to the disaffection and disillusion of large swathes of the UK population. Successful Brexit negotiations or not, by the time of the vote, the sustained cuts in healthcare, education and other social sectors – in real terms – had assumed larger dimensions.

Related article

‘Salvaging Brexit: The right way to leave the EU’. Article by Swati Dhingra, Foreign Affairs, November/December 2016 issue

https://www.foreignaffairs.com/articles/united-kingdom/salvaging-brexit


Related Links:
Financial Express (India) - UK election result 2017: With Theresa May dependent on DUP, Brexit negotiations become more difficult

CEP Trade

Swati Dhingra webpage



News Posted: 13/06/2017      [Back to the Top]

La Voz de Cádiz – Economia

El Banco Popular tuvo que pedir el rescate bancario en el año 2012

Interview with Luis Garicano, head of citizen economy

The same day he participates in a conference on the impact of Brexit at the Rafael del Pino Foundation, Luis Garicano (Valladolid, 1967) announces his personal Brexit: The professor at the London School of Economics will change from London to Madrid and join the IE Business School next year. "No one has left the United Kingdom because of Brexit, but it does contribute to this: the environment is less enjoyable for a foreigner," he describes.


Related Links:
La Voz de Cádiz – Economia - El Banco Popular tuvo que pedir el rescate bancario en el año 2012

CEP Growth

Luis Garicano webpage



News Posted: 11/06/2017      [Back to the Top]

LSE British Politics and Policy blog

Who swung GE2017: young voters turning out, or older voters not?

Article by Thiemo Fetzer

That the Labour party got 40% of the vote – against all odds – is being attributed to a higher turnout among young voters. Thiemo Fetzer‘s analysis finds that older voters did not turn up to vote, relative to younger voters. He also finds that in many places, the older vote was split between the two main parties, possibly due to the controversial social care provisions in the Conservative manifesto.


Related Links:
LSE British Politics and Policy blog - Who swung GE2017: young voters turning out, or older voters not?

CEP Growth

Thiemo Fetzer webpage



News Posted: 11/06/2017      [Back to the Top]

El Universal (Spain)

Europeos en Reino Unido tienen una prioridad y muchas inquietudes

Brexit supporters replicate that immigrants ' additional pressure on housing, schools and hospitals is not considered. Another recurring argument is that immigrants lower wages, a thesis that resists analyses. "All studies show that immigration has no impact on the salary level, or has it in a very marginal way," insisted Jonathan Wadsworth, author of a study on this topic for the London School of Economics.


Related Links:
El Universal (Spain) - Europeos en Reino Unido tienen una prioridad y muchas inquietudes

Immigration and the UK Economy

CEP Labour Markets

Jonathan Wadsworth webpage



News Posted: 11/06/2017      [Back to the Top]

dziennik.pl (Poland)

Bukowski I Novokmet: Bogaci stali sie jeszcze bogatsi. Udato nam sie dogonic Niemcy. Niestety


Related Links:
dziennik.pl (Poland) - Bukowski I Novokmet: Bogaci stali sie jeszcze bogatsi. Udato nam sie dogonic Niemcy. Niestety

CEP Labour Markets

Pawel Bukowski webpage



News Posted: 10/06/2017      [Back to the Top]

Geschichte der Gegenwart (Germany)

May will Regierung bilden – Brexit-Verhandlungen ab 19. Juni

In total, the Centre for Economic Performance (CEP) calculates, it would be best for the British economy to remain part of the EU’s common market.

Related publications

‘#GE2017Economists: The Research Evidence on Key Issues for Voters in the 2017 UK General Election’, Stephen Machin and Romesh Vaitilingam (Eds), CEP 2017 General Election Analyses Paper No. EA044, June 2017

http://cep.lse.ac.uk/pubs/download/ea044.pdf

Related links

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

Urban and Spatial Programme webpage:  http://cep.lse.ac.uk/_new/research/urban/default.asp

 

 


Related Links:
Geschichte der Gegenwart (Germany) - May will Regierung bilden – Brexit-Verhandlungen ab 19. Juni

CEP Education and Skills CEP Growth CEP Labour Markets

Rui Costa webpage

Swati Dhingra webpage

Stephen Machin webpage

Ralf Martin webpage

Sandra Mcnally webpage

Henry Overman webpage

Thomas Sampson webpage

Anna Valero webpage

Jonathan Wadsworth webpage

Gill Wyness webpage



News Posted: 10/06/2017      [Back to the Top]

LSE Business Review blog

It's not that London is too big, but that other large UK cities are too small

Article by Henry Overman

The elections are barely behind us now, and we should keep asking the question, ‘What are the economic forces polarising the UK?’ A big part of the story concerns the geographical concentration of economic activity in London (and the South East). Is this concentration good for those who live or work in London but bad for those who don’t? Is the attraction of London creating an economy that is distinct from the rest of the UK? And what are the implications?

Related publications

The UK’s Regional Divide: Can Policy Make a Difference?’, Henry Overman, CEP 2017 General Election Analyses Paper No. EA042, June 2017

http://cep.lse.ac.uk/pubs/download/ea042.pdf


Related Links:
LSE Business Review blog - It's not that London is too big, but that other large UK cities are too small

CEP Urban and Spatial Programme

Henry Overman webpage



News Posted: 09/06/2017      [Back to the Top]

Yahoo! Finance

What does a hung parliament mean for Brexit and the economy?

Snippet: ...ana. “Without a strong mandate, Europe can ignore the UK’s demands. Even the UK’s threat to pull out of negotiations will now appear hollow and lacking the support of the British public.” But Dr Thomas Sampson, from the London School of Economics and an expert on Brexit…


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Yahoo! Finance - What does a hung parliament mean for Brexit and the economy?

CEP Trade

Thomas Sampson webpage



News Posted: 09/06/2017      [Back to the Top]

Express (online)

‘We need your tourists!' Spanish fear bad Brexit deal for UK will damage THEIR future

Luis Garicano, a professor of Economics and Strategy in London, said he feared a lack of British tourists would hugely impact Spain's economy. Speaking at a Brexit conference in Spain, the professor said there was no going back on the UK’s decision to leave the EU and a ‘hard’ Brexit was likely. He added middle classes in Britain had felt “threatened” by globalisation and technology and Brexiteer politicians had taken advantage of their mood.


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Express (online) - ‘We need your tourists!' Spanish fear bad Brexit deal for UK will damage THEIR future

CEP Growth

Luis Garicano webpage



News Posted: 08/06/2017      [Back to the Top]

Frankfurter Rundschau (Germany)

Die schlechteste Variante

A year ago, in June 2016, the British voted on their country's EU membership. Economists and financial markets were in bright turmoil and warned of the consequences of a Brexit. Today, twelve months later, the markets are no longer afraid of the Brexit. They fear for him. Only two years are left to the EU and the United Kingdom to agree on the conditions of the withdrawal. And with each passing day there is a growing likelihood that the horror scenario will occur: there is no agreement, no deal--"for the British economy, this would be