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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]

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]

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

Yatang Lin webpage



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]

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]

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…


Related Links:
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.


Related Links:
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 the worst of all results," warns the Centre for Economic Performance (CEP).

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:
Frankfurter Rundschau (Germany) - Die schlechteste Variante

CEP Education and Skills CEP Growth CEP Trade

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: 08/06/2017      [Back to the Top]

Berliner Zeitung (Germany)

Horrorszenario „No Deal'': Keine Brexit-Einigung wäre für die britische Wirtschaft fatal/Horror scenario „No Deal'' no Brexit agreement would be fatal for the British economy

erall, the Centre for Economic Performance (CEP) calculates, it would be best for the British economy to remain in spite of Brexit part of the EU's common market. This, too, would incur costs, but in the case of a no-deal scenario, these costs would double. The British trade with the EU would break by 40 percent over the next ten years. The overall effect amounted to just under three percent of British per capita income. Every household on the island would cost about 1 900 pounds.

Also in:

Kölner Stadt-Anzeiger

Furcht vor dem Desaster; BREXIT Großbritannien droht eine schwere Rezession, wenn es keine Einigung mit der EU gibt

In total, the Centre for Economic Performance (CEP) calculates, it would be best for the British economy to remain in spite of Brexit part of the EU's common market. This, too, would incur costs, but in the case of a no-deal scenario, these costs would double. The British trade with the EU would break by 40 percent over the next ten years. The overall effect amounted to just under three percent of British per capita income. Every household on the island would cost about 1900 pounds.

http://www.ksta.de/wirtschaft/brexit-furcht-vor-dem-desaster-27764024

 

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:
Berliner Zeitung (Germany) - Horrorszenario „No Deal'': Keine Brexit-Einigung wäre für die britische Wirtschaft fatal/Horror scenario „No Deal'' no Brexit agreement would be fatal for the British economy

CEP Education and Skills CEP Growth CEP Labour Markets

Ralf Martin webpage

Sandra Mcnally webpage

Henry Overman webpage

Jonathan Wadsworth webpage

Stephen Machin webpage

Gill Wyness webpage

Rui Costa webpage

Swati Dhingra webpage

Anna Valero webpage

Thomas Sampson webpage



News Posted: 08/06/2017      [Back to the Top]

Professional Adviser

The evidence for Brexit and other key election issues - LSE

The London School of Economics (LSE) has published a report assessing all of the party manifestos and how respective policies will affect key voter issues.

Intended to be "objective, brief and non-technical", the report by the LSE's Centre for Economic Performance looks at the evidence on the most-talked-about policies, including education, health, immigration, industrial strategy, living standards, regional policy and Brexit.

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:
Professional Adviser - The evidence for Brexit and other key election issues - LSE

CEP Education and Skills CEP Growth CEP Labour Markets

Rui Costa webpage

Swati Dhingra webpage

Stephen Machin webpage

Sandra Mcnally webpage

Henry Overman webpage

Thomas Sampson webpage

Anna Valero webpage

Jonathan Wadsworth webpage

Gill Wyness webpage



News Posted: 08/06/2017      [Back to the Top]

Chicago Booth Review

Why top-down companies can underperform their peers

“Just as the US military has become more decentralized, letting soldiers on the ground in Afghanistan and Iraq make more decisions than they would have in Korea or in Vietnam, so are the best firms decentralizing in times of economic conflict,” says Stanford’s Nicholas Bloom, who conducted the research with College of France’s Philippe Aghion, Stanford PhD candidate Brian Lucking, Harvard’s Raffaella Sadun, and MIT’s John Van Reenen.


Related Links:
Chicago Booth Review - Why top-down companies can underperform their peers

Turbulence, Firm Decentralization and Growth in Bad Times

CEP Growth

Philippe Aghion webpage

Raffaella Sadun webpage

Nick Bloom webpage

John Van reenen webpage



News Posted: 07/06/2017      [Back to the Top]

The National (Scotland)

Letters: BBC debates reveal how little they've progressed

SOME time ago Paxman's questions to Mrs May exposed effectively how ineffective she had been at the Home Office in dealing with immigration. She could not explain how Conservative policy has completely failed in this area (even to reduce non-European immigrants). So I will explore the possible causes. As we have near full employment one must agree with Jonathan Wadsworth at London School of Economics that there is no statistical impact of immigrants on wages of UK workers. Scottish farmers have claimed that they can't get local workers for seasonal work, so need immigrants, and in Scotland EU nationals make up 3.4 per cent of the population but 4.5 per cent of the workforce. So they are vital and skilled workers. Now if industry (having benefited from five years of corporation tax concessions) is simply not training local workers then it's necessary for the Government to tax industry and spend major sums of money on training. And if years of austerity have not created a mood of business confidence in the UK (but instead has reduced consumer purchasing power) then perhaps the economy needs government stimulus to take us through the uncertainty which our changing trade relationship with Europe and other countries will create. Unless government spends a lot of money on skills training and infrastructure it is most unlikely that we will not see significant falls in immigration. So in five years time Mrs May will be facing the same questions from Paxman with the same lack of answers. Andrew Vass, Edinburgh

Related publications

‘Immigration and the UK Economy’, Jonathan Wadsworth, CEP 2017 General Election Analyses Paper No. 039, May 2017

http://cep.lse.ac.uk/pubs/download/ea039.pdf

‘Brexit and the Impact of Immigration on the UK’, Swati Dhingra, Gianmarco Ottaviano, John Van Reenen and Jonathan Wadsworth, CEP Brexit Analysis Paper No.5, May 2016

http://cep.lse.ac.uk/pubs/download/brexit05.pdf

 


Related Links:
The National (Scotland) - Letters: BBC debates reveal how little they've progressed

CEP Labour Markets

Jonathan Wadsworth webpage



News Posted: 07/06/2017      [Back to the Top]

Economic Journal, Volume 127, Issue 602, June 2017

‘Adjusting Your Dreams? High School Plans and Dropout Behaviour'

Dominique Goux, Marc Gurgand and Eric Maurin

 

Related publications

‘in brief… What can be done to help low-Achieving teenagers?’ Dominique Goux, Marc Gurgand and Eric Maurin.  Article in CentrePiece Volume 22, Issue 1, Spring 2017

http://cep.lse.ac.uk/pubs/download/cp499.pdf


Related Links:
Economic Journal, Volume 127, Issue 602, June 2017 - ‘Adjusting Your Dreams? High School Plans and Dropout Behaviour'

CEP Education and Skills

Eric Maurin webpage



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

Reason.com – July 2017 issue

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," says Michaels 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 publications

Robots at work: the impact on productivity and jobs’, Georg Graetz, Guy Michaels, Article in CentrePiece  Volume 20, Issue 1, Summer 2015


Related Links:
Reason.com – July 2017 issue - Are robots going to steal our jobs?

Robots at work: the impact on productivity and jobs

CEP Labour Markets

Guy Michaels webpage

Georg Graetz webpage



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

CityWire

Crazy in ETF love? New study imagines bottling star quality

A new paper – by David Dorn of the University of Zurich, Lawrence Katz of Harvard University, and David Autor, Christina Patterson, and John Van Reenen of the Massachusetts Institute of Technology – offers an alternative way to define what they term ‘superstar’ companies. Their research is primarily concerned with labour’s falling share of GDP, which they argue can in part be attributed to these businesses.


Related Links:
CityWire - Crazy in ETF love? New study imagines bottling star quality

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

CEP Growth

John Van reenen webpage



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

Financial Times

Manifesto economics

For the first time in years, UK voters have a real choice between economic models

The Centre for Economic Performance at the London School of Economics has published a series of election analyses, looking at wages and living standards, health and social care, education and skills, and inequality between UK regions.

Related publications

‘#GE2017Economists: The Research Evidence on Key Issues for Voters in the 2017 UK General Election’, CEP 2017 General Election Analyses Paper No. EA044, June 2017

http://cep.lse.ac.uk/pubs/download/ea044.pdf

 

Related links

Urban and Spatial Programme webpage:  http://cep.lse.ac.uk/_new/research/urban/default.asp

 


Related Links:
Financial Times - Manifesto economics

CEP Education and Skills CEP Labour Markets CEP Trade

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: 06/06/2017      [Back to the Top]

The UK in a changing Europe

The manifestos uncovered: trade

Article by Swati Dhingra

Unlike some other countries – the US and France spring to mind – trade has not been a major issue in recent UK elections. This reflected both EU membership and a broad political consensus that, within the EU, the UK should argue for a relatively liberal approach. Brexit, however, will mean the most fundamental reorientation of UK trade policy in forty years, so it not surprising that it is much more prominent in manifestos for this election. The Liberal Democrats would stay in the single market and the customs union. Free movement of goods, services, capital and people would continue, and trade policy would still be set at the EU level. The loss of market access that would follow from leaving the EU would be minimized. Labour are less specific, to the point of inconsistency – they retain the option of being in the single market and the customs union, but also say that Brexit will mean an end to free movement, which is inconsistent with single market membership. The Conservatives’ plans are rather more detailed. Immigration controls are central to their Brexit plan, which means that we will leave the single market, while the aspiration to do new trade deals with countries outside the EU means leaving the customs union. Together, this means a “hard Brexit”. If there is no new deal with the EU after the two-year period – the hardest possible Brexit – the UK would revert to World Trade Organization rules.

Related publications

‘Brexit and the UK Economy’, Swati Dhingra, Thomas Sampson,  CEP 2017 General Election Analyses Paper No.40, May 2017

http://cep.lse.ac.uk/pubs/download/ea040.pdf

‘The Consequences of Brexit for UK Trade and Living Standards’,  CEP Brexit Analysis No. 2 by Swati Dhingra, Gianmarco  Ottaviano, Thomas Sampson and John Van Reenen, March 2016

http://cep.lse.ac.uk/pubs/download/brexit02.pdf

Brexit: the impact on UK trade and living standards’,  Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and  John Van Reenen, CentrePiece Volume 21, Issue 1, Summer 2016


Related Links:
The UK in a changing Europe - The manifestos uncovered: trade

The Costs and Benefits of Leaving the EU: Trade Effects

CEP Trade

Swati Dhingra webpage

Thomas Sampson webpage



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

Socialist Worker

Migrant works say – ‘Don't blame us for low pay'

The London School of Economics’ (LSE) Centre for Economic Performance last year found that “the areas of the UK with large increases in EU immigration did not suffer greater falls in the jobs and pay of UK-born workers.”

Related publications

‘Brexit and the Impact of Immigration on the UK’, Swati Dhingra, Gianmarco Ottaviano, John Van Reenen and Jonathan Wadsworth, CEP Brexit Analysis Paper No.5, May 2016

http://cep.lse.ac.uk/pubs/download/brexit05.pdf


Related Links:
Socialist Worker - Migrant works say – ‘Don't blame us for low pay'

CEP Labour Markets CEP Growth CEP Trade

Swati Dhingra webpage

Gianmarco Ottaviano webpage

John Van reenen webpage

Jonathan Wadsworth webpage



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

The Advertiser (Adelaide, Australia)

John Newton: Labour set to remain tarnished an divided while newly enthroned May will be mistress of all she surveys

Mrs May still seems to suggest that immigration should be kept under 100,000 a year while being just about the only person in the country who thinks that number should include students. Damage to university numbers is inevitable. Student admission rates are already lower this year. Her incapacity to deliver on such a KPI when Home Secretary adds the accusation of incompetence to that of pigheadedness. And is this a wise policy anyway? Recent research suggests that hitting a target of 100,000 will mean a fiscal deficit 30 per cent higher by 2066. Immigrants are regularly proven to add value and are not the burden on the state that many believe them to be. A recent report from the Centre for Economic Performance correlates the drop in immigrant numbers to falls, not rises, in living standards.

 

Related publications

‘Brexit and the Impact of Immigration on the UK’, Swati Dhingra, Gianmarco Ottaviano, John Van Reenen and Jonathan Wadsworth, CEP Brexit Analysis Paper No.5, May 2016

http://cep.lse.ac.uk/pubs/download/brexit05.pdf


Related Links:
The Advertiser (Adelaide, Australia) - John Newton: Labour set to remain tarnished an divided while newly enthroned May will be mistress of all she surveys

CEP Labour Markets CEP Growth CEP Trade

Swati Dhingra webpage

Gianmarco Ottaviano webpage

John Van reenen webpage

Jonathan Wadsworth webpage



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

Economic Policy Digest – June 2017

Education and deprivation explain the Brexit vote better than immigration

Demography and education are a much better explanation of the ‘Leave’ vote in the June 2016 Brexit referendum than the decline in public services or recent immigration. These are the conclusions of Sascha O. Becker, Thiemo Fetzer and Dennis Novy in their paper Who Voted for Brexit? A Comprehensive District-Level Analysis. … It might be assumed that the 48% of people who voted to remain in the EU last June, and many of the 52% who voted to Leave, would prefer a ‘soft Brexit’ instead.  In this case the UK would follow the example of a country like Norway, which is outside the EU but inside the Single Market. If they got their wish, this would halve the fall in income to about 1.3%. But whether Brexit is hard or soft, Britain will be worse off. The authors of the paper – Swati Dhingra, Hanwei Huang, Gianmarco Ottaviano, João Pessoa, Thomas Sampson and John Van Reenen – from the Centre for Economic Performance at the London School of Economics, and MIT, found that for both extreme versions of Brexit, as well as many in between cases that they costed, reductions in budget payment to Brussels will be easily outweighed by the costs of reduced trade with the EU, which accounts for about half of all British trade.


Related Links:
Economic Policy Digest – June 2017 - Education and deprivation explain the Brexit vote better than immigration

Who Voted for Brexit? A Comprehensive District-Level Analysis

The Costs and Benefits of Leaving the EU: Trade Effects

CEP Growth CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Thiemo Fetzer webpage

Hanwei Huang webpage

Dennis Novy webpage

Gianmarco Ottaviano webpage

Thomas Sampson webpage

John Van reenen webpage



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

Huffington Post

Woman's Hour: Emily Thornberry ‘Finds brief in handbag' after last-minute appearance in place of ‘unwell' Diane Abbot

Woman’s Hour: Emily Thornberry ‘Finds brief in handbag’ after last-minute appearance in place of ‘unwell’ Diane Abbot

Rudd also claimed that cutting numbers of police officers since 2010 has led to a reduction in crime. The Centre for Economic Performance has suggested a reduction in crime may be due to both improved productivity within the police and fewer people turning to crime in the first place


Related Links:
Huffington Post - Woman's Hour: Emily Thornberry ‘Finds brief in handbag' after last-minute appearance in place of ‘unwell' Diane Abbot

Fighting Crime: Can the Police do more with less?

CEP Labour Markets

Brian Bell webpage



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

Harvard Business Review (Brazil)

As corporações na era da desigualdade

Article by Nicholas Bloom

Translating the economic principles into common language is the passion of Nicholas Bloom, who describes his work as "bar economics" or "concepts that I can explain to my friends drinking beer in London". Here he resumes the common mistaken interpretations on inequality of income and proposes a new way to think the problem. Quoting the Brexit in the United Kingdom, the United States presidential election, the five-Star Movement in Italy and the revival of Marine Le Pen in France, bloom opines on income inequality: "It's not just a huge social issue, but she's now running global politics." After completing his Ph.D. at University College London — his thesis was on the economic impact of political uncertainty —, Bloom accepted a job at Stanford and began translating his interests into management in an academic research agenda. Working with colleagues from Harvard Business School and the London School of Economics, he collected data on the management and financial performance practices of 100000 organizations from 35 countries. In the article "The management really works?", with Raffaella Sadun and John Van Reenen, he showed empirical evidence that good management has a great impact on the economy.


Related Links:
Harvard Business Review (Brazil) - As corporações na era da desigualdade





News Posted: 05/06/2017      [Back to the Top]

RT (Russia)

British wages in free fall, only crisis-hit Greece is worse in OECD

According to a London School of Economics (LSE) paper, Brits were the worst off when it came to their real wages, with pay falling by more than five percent between 2007 and 2015.

Researchers for the prestigious British university also found that all types of British earners, with the exception of pensioners and minimum wage workers, were no better off today than they were in 2008.


Related Links:
RT (Russia) - British wages in free fall, only crisis-hit Greece is worse in OECD

Real Wages and Living Standards in the UK

CEP Education and Skills CEP Labour Markets

Rui Costa webpage

Stephen Machin webpage



News Posted: 05/06/2017      [Back to the Top]

Business Insider UK

Sovereign wealth funds are shunning British investments after Brexit

The LSE's Centre for Economic Performance said that returning to World Trade Organization rules would reduce the UK's trade with the EU by 40% over 10 years.

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:
Business Insider UK - Sovereign wealth funds are shunning British investments after Brexit

Brexit and the UK Economy

CEP Growth CEP Trade

Swati Dhingra webpage

Gianmarco Ottaviano webpage

Thomas Sampson webpage

John Van reenen webpage



News Posted: 05/06/2017      [Back to the Top]

Independent

Parents reduced to crowdfunding for whiteboards due to education cuts

Following years of government budget cuts, parents are now turning to crowdfunding websites in order to provide basic school supplies. Appeals have been launched on websites including Justgiving.com for online donations towards items such as whiteboards and computers, as well as to pay for crossing attendents. … Prime Minister has echoed this claim several times, stating in an interview with Andrew Marr: “The level of funding going into schools is at record level.”  However, Professor Sandra McNally from the School of Economics, University of Surrey, published an article​ fact-checking this “highest level on record” claim.  She explains that only the “per pupil expenditure” (the amount spent on each pupil) is relevant, rather than the total amount of money available. According to Professor McNally, current spending per pupil was “largely frozen in real terms” between 2010 and 2016.  And as onward spending is frozen in cash terms, this will likely lead to a “real terms reduction of around 6.5 per cent by 2019-2020”.

Related links

Sandra McNally CEP publications webpage:  http://cep.lse.ac.uk/_new/publications/author.asp?author=mcnally


Related Links:
Independent - Parents reduced to crowdfunding for whiteboards due to education cuts

CEP Education and Skills

Sandra Mcnally webpage



News Posted: 05/06/2017      [Back to the Top]

Cinquantamila.it

Londra vota Brexit. Morbida o estrema saremo comunque più poveri

Brexit In fact is a trauma that breaks the vertical chain of production of the value that ties the United Kingdom to the EU, with consequences not apparent immediately. Quantifying these costs is therefore a difficult exercise, but we have tried S. Dhingra, H. Huang, G. Ottaviano, J.P. Pessoa, T. Sampson and J. Van Reenen in the article "the costs and benefits of leaving the EU: trade Effects", forthcoming in the magazine. … The British voters who chose leave, contrary to appearances, seem to know that their problem is not immigration. The analysis of the vote at the last June referendum by S. Becker, T. Fetzer and D. Novy in the article "who voted for Brexit: a comprehensive district-level analysis" (also being published in the economic policy), confirms this conclusion.


Related Links:
Cinquantamila.it - Londra vota Brexit. Morbida o estrema saremo comunque più poveri

Who Voted for Brexit? A Comprehensive District-Level Analysis

The Costs and Benefits of Leaving the EU: Trade Effects

CEP Growth CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Thiemo Fetzer webpage

Hanwei Huang webpage

Dennis Novy webpage

Gianmarco Ottaviano webpage

Thomas Sampson webpage

John Van reenen webpage



News Posted: 05/06/2017      [Back to the Top]

Independent

The chart that shows UK workers have had the worst wage performance in the OECD except Greece

The UK has suffered the biggest drop in average real wages of any OECD country except depression-wracked Greece, according to a pre-general election analysis published by the London School of Economics.

The LSE's Centre for Economic Performance (CEP) uses OECD data to show that average wages for British workers, when adjusted for inflation, fell by more than 5 per cent between 2007 and 2015..

Related publications

'Real Wages and Living Standards in the UK', Rui Costa, Stephen Machin, CEP Election Analysis Paper No' CEPEA036: , May 2017

http://cep.lse.ac.uk/pubs/download/ea036.pdf

'The Return of Falling Real Wages' David Blanchflower, Rui Costa, Stephen Machin, CEP report, May 2017 

http://cep.lse.ac.uk/pubs/download/rwu006.pdf

 


Related Links:
Independent - The chart that shows UK workers have had the worst wage performance in the OECD except Greece

CEP Labour Markets CEP Education and Skills

Rui Costa webpage

Stephen Machin webpage



News Posted: 05/06/2017      [Back to the Top]

Sunday Herald (Scotland)

Anton Muscatelli: Immigrationisn't making us poorer – but scaremongering about it might

Firstly, there is simply no evidence that EU immigration has impacted negatively on the living standards of UK workers. A new study by the London School of Economics (LSE) has shown that there is no apparent link between changes in the real wages of UK nationals and changes in immigration – wages of UK-born workers changed at much the same rate in areas with high immigration as in areas with a low change in immigration.


Related Links:
Sunday Herald (Scotland) - Anton Muscatelli: Immigrationisn't making us poorer – but scaremongering about it might

Immigration and the UK Economy

CEP Labour Markets

Jonathan Wadsworth webpage



News Posted: 04/06/2017      [Back to the Top]

The Times

Election uncertainties to be followed by many more

The election uncertainty will give way to new uncertainties. Two new reports from the Centre for Economic Performance (CEP) at the London School of Economics highlight some of the dangers. On immigration, the CEP concludes that cutting it significantly will result in a lowering of living standards for the UK-born population, with the extent of the fall depending on the extent of the drop in net migration. The May target of “tens of thousands” will leave us all poorer. The report, on the CEP website, is a good mythbuster. Areas of high EU immigration have not seen UK-born workers displaced or suffered from weaker wage growth. The route to reduced living standards is partly via the fact that migrant workers pay more in taxes than they take out in welfare and use of public services. The CEP’s other report looks at something that really worries businesses — the prime minister’s “no deal is better than a bad deal” rhetoric. CEP economists Swati Dhingra and Thomas Sampson, using what they describe as a state-of-the-art trade model based on comprehensive data, say that leaving the EU without a deal would result in a 40% drop in exports to the EU over 10 years and a 3% fall in GDP per capita. Add in dynamic effects and the medium-term economic effects could be double those arising from the model, the authors say.


Related Links:
The Times - Election uncertainties to be followed by many more

Brexit and the UK Economy

Immigration and the UK Economy

CEP Labour Markets CEP Trade

Swati Dhingra webpage

Thomas Sampson webpage

Jonathan Wadsworth webpage



News Posted: 04/06/2017      [Back to the Top]

Evening Chronicle

The North should become a ‘free trade zone' to create jobs and bring in cash, think tank says

The need to give the North a boost was highlighted by a new study by the Centre for Economic Performance, part of the London School of Economics, which said the Government’s Northern Powerhouse project had produced uneven results, with Manchester benefitting more than other parts of the North. Professor Henry Overman, co-author of the report, said: “The manifestos of the main parties the 2017 election campaign reflect the continuing urge that politicians feel to try to do something about the UK’s regional divide without any real understanding of what drives the differences in performance or what policies might be effective.”


Related Links:
Evening Chronicle - The North should become a ‘free trade zone' to create jobs and bring in cash, think tank says

The UK's Regional Divide: Can Policy Make a Difference

CEP Trade CEP Urban and Spatial Programme

Henry Overman webpage



News Posted: 03/06/2017      [Back to the Top]

The Economist

Britain's election offers little respite for its woes

Most independent experts predict long-term harm as well. According to the most recent estimates from the Centre for Economic Performance at the London School of Economics, a hard Brexit would reduce GDP per head by 2.6% over ten years, while a softer Swiss- or Norwegian-style Brexit would cut it by 1.3%...

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

CEP BREXIT Analysis: ‘The consequences of Brexit for UK trade and living standards’, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen. March 2016. http://cep.lse.ac.uk/pubs/download/brexit02.pdf

 

Related links

CEP Election 2017 webpage: http://cep.lse.ac.uk/election2017/default.asp

CEP Brexit 2016 webpage:  http://cep.lse.ac.uk/brexit/


Related Links:
The Economist - Britain's election offers little respite for its woes

CEP Trade

Swati Dhingra webpage

Thomas Sampson webpage



News Posted: 03/06/2017      [Back to the Top]

The Economic Voice

Green Party: We will stand up for free movement

A recent study by the London School of Economics has blown apart a number of key myths around migration, saying: “Immigrants pay more in taxes than they take out in welfare and use of public services. UK-born individuals, on average, take out more in welfare and benefits than they pay in taxes. So immigrants help to reduce the budget deficit. There is little evidence that immigrants have negative effects on crime, education, health or social housing.”


Related Links:
The Economic Voice - Green Party: We will stand up for free movement

Immigration and the UK Economy

CEP Labour Markets

Jonathan Wadsworth webpage



News Posted: 02/06/2017      [Back to the Top]

The Economist – free exchange blog

Europe inches closer to a plan for fixing its financial flaws

Article by Luis Garicano

DONALD TRUMP and Theresa May may have done more to push Europeans together, and open up an opportunity for reform of its institutions, than any pro-European American president or British prime minister could ever have dreamt. The Commission’s “Reflection paper on the deepening of the Economic and Monetary Union”, issued on May 31st, points the way towards a package deal that could be acceptable to Northern and Southern euro area countries. But some key elements are still missing. Encouragingly, the Commission sets out a tight calendar for completing the banking union, with the creation of a common deposit insurance scheme and a common backstop for the European Resolution fund intended to be in place by 2019.


Related Links:
The Economist – free exchange blog - Europe inches closer to a plan for fixing its financial flaws

CEP Growth

Luis Garicano webpage



News Posted: 02/06/2017      [Back to the Top]

LSE Brexit blog

Brexit has already started to make UK citizens poorer

Leaving the European Union with no deal in place for future trading arrangements would be the worst-case Brexit scenario for the UK economy. What’s more, just because GDP growth has not declined since last year’s referendum, it would be wrong to think that Brexit is yet to have any economic effects: it has already lowered UK living standards by causing the value of the pound to decline, which has led to higher inflation and lower real wage growth. These are among the conclusions of a new report from the Centre for Economic Performance (CEP) authored by Swati Dhingra and Thomas Sampson.


Related Links:
LSE Brexit blog - Brexit has already started to make UK citizens poorer

Brexit and the UK Economy

CEP Trade

Swati Dhingra webpage

Thomas Sampson webpage



News Posted: 02/06/2017      [Back to the Top]

ITV News

Theresa May reveals risky migration target timescale

So the prime minister may have to choose between risking the economy (immigrants keep living standards up and the deficit down according to the London School of Economics) or missing her target.


Related Links:
ITV News - Theresa May reveals risky migration target timescale

Brexit and the UK Economy

CEP Trade

Swati Dhingra webpage

Thomas Sampson webpage



News Posted: 01/06/2017      [Back to the Top]

True Viral News

Brexit makes people poorer with more pain on the way, warns study

BREXIT has already started to make UK citizens poorer and more pain is likely in the months and years to come, a new study has warned. Although last year’s vote to quit the European Union has had “no obvious effect” on GDP growth, the collapse in the value of the pound – down 13 per cent against the US dollar and nine per cent against the euro by the end of April – has fuelled a surge in inflation from 0.5 per cent to 2.7 per cent and a fall in real wage growth from 1.3 per cent to minus 0.5 per cent, the report from the London School of Economics Centre for Economic Performance found.


Related Links:
True Viral News - Brexit makes people poorer with more pain on the way, warns study

Brexit and the UK Economy

CEP Trade

Swati Dhingra webpage

Thomas Sampson webpage



News Posted: 01/06/2017      [Back to the Top]

Herald Scotland

Brexit makes people poorer with more pain on the way, warns study

Although last year’s vote to quit the European Union has had “no obvious effect” on GDP growth, the collapse in the value of the pound – down 13 per cent against the US dollar and nine per cent against the euro by the end of April – has fuelled a surge in inflation from 0.5 per cent to 2.7 per cent and a fall in real wage growth from 1.3 per cent to minus 0.5 per cent, the report from the London School of Economics Centre for Economic Performance found….

Co-author Thomas Sampson said Labour and the Conservatives plans to “take back control” rather than making Brexit work for the UK economy would “inevitably” be bad for living standards…

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

CEP BREXIT Analysis: ‘The consequences of Brexit for UK trade and living standards’, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen. March 2016. http://cep.lse.ac.uk/pubs/download/brexit02.pdf

 

Related links

CEP Brexit 2016 webpage:  http://cep.lse.ac.uk/brexit/

CEP Election 2017 webpage: http://cep.lse.ac.uk/election2017/default.asp


Related Links:
Herald Scotland - Brexit makes people poorer with more pain on the way, warns study

CEP Trade

Swati Dhingra webpage

Thomas Sampson webpage



News Posted: 01/06/2017      [Back to the Top]

Business Insider UK

LSE: Failure to get a Brexit trade deal will cost every household at least £1,890 a year

A report by the LSE's Centre for Economic Performance said that returning to World Trade Organization rules would reduce the UK's trade with the EU by 40% over 10 years…

Report authors Swati Dinghra and Thomas Sampson write: "While it is a tautology that a sufficiently bad deal must be worse than no-deal, in practice the no-deal outcome, where the UK and EU trade under WTO terms, is the worst-case scenario for the UK economy. The economic costs of Brexit would be twice as large in the no-deal case than if the UK remains in the Single Market."

Related publications

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

CEP BREXIT Analysis: ‘The consequences of Brexit for UK trade and living standards’, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen. March 2016. http://cep.lse.ac.uk/pubs/download/brexit02.pdf

 

Related links

CEP Brexit 2016 webpage:  http://cep.lse.ac.uk/brexit/

CEP Election 2017 webpage: http://cep.lse.ac.uk/election2017/default.asp

 


Related Links:
Business Insider UK - LSE: Failure to get a Brexit trade deal will cost every household at least £1,890 a year

CEP Trade

Swati Dhingra webpage

Thomas Sampson webpage



News Posted: 01/06/2017      [Back to the Top]

AOL.UK

UK citizens already poorer as a result of Brexit, study finds

Although last year's vote to quit the EU has had "no obvious effect" on GDP growth, the collapse in the value of the pound - down 13% against the US dollar and 9% against the euro by the end of last month - has fuelled a surge in inflation from 0.5% to 2.7% and a fall in real wage growth from 1.3% to minus-0.5%, the report from the London School of Economics Centre for Economic Performance found.


Related Links:
AOL.UK - UK citizens already poorer as a result of Brexit, study finds

Brexit and the UK Economy

CEP Trade

Thomas Sampson webpage

Swati Dhingra webpage



News Posted: 31/05/2017      [Back to the Top]

Mirror

Theresa May's 'no deal' Brexit would cost each family £1,890, experts warn

Although last year's vote to quit the EU has had "no obvious effect" on GDP growth, the collapse in the value of the pound - down 13% against the US dollar and 9% against the euro by the end of last month - has fuelled a surge in inflation from 0.5% to 2.7% and a fall in real wage growth from 1.3% to minus-0.5%, the report from the London School of Economics Centre for Economic Performance found.

Co-author Thomas Sampson said: "Prime Minister May's decision to leave the single market was not an inevitable consequence of the referendum and will increase the economic costs of Brexit.

Related publications

'Brexit and the UK Economy', Swati Dhingra, Thomas Sampson, CEP Election Analysis Paper No. 40. May 2017.

http://cep.lse.ac.uk/pubs/download/ea040.pdf

 

 

 


Related Links:
Mirror - Theresa May's 'no deal' Brexit would cost each family £1,890, experts warn

CEP Trade

Swati Dhingra webpage

Thomas Sampson webpage



News Posted: 31/05/2017      [Back to the Top]

National Affairs - Findings

Getting the job done

Includes in the roundup: ‘Is Modern Technology Responsible for Jobless Recoveries?’, Georg Graetz and Guy Michaels, American Economic Review, May 2017

Abstract:  Since the early 1990s, recoveries from recessions in the US have been plagued by weak employment growth. We investigate whether a similar problem afflicts other developed economies, and whether technology is a culprit. We study recoveries from 71 recessions in 28 industries and 17 countries from 1970-2011. We find that though GDP recovered more slowly after recent recessions, employment did not. Industries that used more routine tasks, and those more exposed to robotization, did not recently experience slower employment recoveries. Finally, middle-skill employment did not recover more slowly after recent recessions, and this pattern was no different in routine-intensive industries.

Related publications

In brief... Is technology to blame for jobless recoveries? Georg Graetz and Guy Michaels. Article in CentrePiece 22 (1) Spring 2017


Related Links:
National Affairs - Findings - Getting the job done

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

CEP Labour Markets

Georg Graetz webpage

Guy Michaels webpage



News Posted: 31/05/2017      [Back to the Top]

Financial Times

Germany's declining respect for the UK

Further reading

Brexit and the UK Economy There are many ways to leave and the referendum did not allow voters to choose between them — Brexit does not simply mean Brexit. (LSE Centre for Economic Performance)

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

CEP BREXIT Analysis: ‘The consequences of Brexit for UK trade and living standards’, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen. March 2016. http://cep.lse.ac.uk/pubs/download/brexit02.pdf

 

Related links

CEP Brexit 2016 webpage:  http://cep.lse.ac.uk/brexit/

CEP Election 2017 webpage: http://cep.lse.ac.uk/election2017/default.asp


Related Links:
Financial Times - Germany's declining respect for the UK

CEP Trade

Swati Dhingra webpage

Thomas Sampson webpage



News Posted: 31/05/2017      [Back to the Top]

Bloomberg News online

Brexit Bulletin: The Ghost at the Debate

May’s insistence that “no deal is better than a bad deal” is wrong, according to a report by the Centre for Economic Performance….

“In practice the no-deal outcome, where the U.K. and EU trade under WTO terms, is the worst-case scenario for the U.K. economy,” CEP economists Swati Dhingra and Thomas Sampson said in the report.

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

CEP BREXIT Analysis: ‘The consequences of Brexit for UK trade and living standards’, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen. March 2016. http://cep.lse.ac.uk/pubs/download/brexit02.pdf

 

Related links

CEP Brexit 2016 webpage:  http://cep.lse.ac.uk/brexit/

CEP Election 2017 webpage: http://cep.lse.ac.uk/election2017/default.asp


Related Links:
Bloomberg News online - Brexit Bulletin: The Ghost at the Debate

CEP Trade

Swati Dhingra webpage

Thomas Sampson webpage



News Posted: 31/05/2017      [Back to the Top]

Bloomberg News

No Brexit Deal ‘Worst-Case Scenario' for U.K. Economy, CEP Says

According to the Centre for Economic Performance, leaving the European Union with no pact in place would have twice the negative economic impact as remaining in the single market. That’s at odds with Prime Minister Theresa May’s repeated assertion that “no deal is better than a bad deal.”

“While it is a tautology that a sufficiently bad deal must be worse than no deal, in practice the no-deal outcome, where the U.K. and EU trade under WTO terms, is the worst-case scenario for the U.K. economy,” CEP economists Swati Dhingra and Thomas Sampson said in a report published Wednesday.

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

CEP BREXIT Analysis: ‘The consequences of Brexit for UK trade and living standards’, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen. March 2016. http://cep.lse.ac.uk/pubs/download/brexit02.pdf

Related links

CEP Brexit 2016 webpage:  http://cep.lse.ac.uk/brexit/

CEP Election 2017 webpage: http://cep.lse.ac.uk/election2017/default.asp


Related Links:
Bloomberg News - No Brexit Deal ‘Worst-Case Scenario' for U.K. Economy, CEP Says

CEP Trade

Swati Dhingra webpage

Thomas Sampson webpage



News Posted: 31/05/2017      [Back to the Top]

Evening Express

UK citizens already poorer as a result of Brexit, study finds

Although last year’s vote to quit the EU has had “no obvious effect” on GDP growth, the collapse in the value of the pound – down 13% against the US dollar and 9% against the euro by the end of last month – has fuelled a surge in inflation from 0.5% to 2.7% and a fall in real wage growth from 1.3% to minus-0.5%, the report from the London School of Economics Centre for Economic Performance found…..

Co-author Thomas Sampson said:  ”Prime Minister May’s decision to leave the single market was not an inevitable consequence of the referendum and will increase the economic costs of Brexit.

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

CEP BREXIT Analysis: ‘The consequences of Brexit for UK trade and living standards’, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen. March 2016. http://cep.lse.ac.uk/pubs/download/brexit02.pdf

 

Related links

CEP Brexit 2016 webpage:  http://cep.lse.ac.uk/brexit/

CEP Election 2017 webpage: http://cep.lse.ac.uk/election2017/default.asp


Related Links:
Evening Express - UK citizens already poorer as a result of Brexit, study finds

CEP Trade

Swati Dhingra webpage

Thomas Sampson webpage



News Posted: 31/05/2017      [Back to the Top]

ccrmagazine.com

Centre for Economic Performance report on the UK's new industrial strategy

All of the UK’s main political parties now highlight the importance of an ‘industrial strategy’ with the aim of improving economic growth and achieving more balance in how its gains are distributed. In addition, and in contrast to the 2015 election, all parties have made a manifesto commitment to raising the intensity of UK research and development. Both the Conservatives and Labour share a desire for more market intervention in some areas: promising energy price caps of some form, tightening up rules on takeovers, and – along with the Liberal Democrats – pushing company boards to consider the interests of workers. But major differences have emerged with respect to business taxes, and the extent of public investment and intervention. The most dramatic differences are that Labour would renationalise large parts of the privatised utilities, and would raise corporate (and other) taxes to fund higher public spending in a number of areas. These are among the conclusions of a new report from the Centre for Economic Performance (CEP) – the third in a series of background briefings on key policy issues in the June 2017 UK general election. ... Anna Valero, author of the report, comments: ‘All parties aspire to raise UK R&D intensity, with the Conservatives’ commitment to increase R&D further as a share of GDP to 2.4% within 10 years and a longer-term aim of 3%; a Labour target of reaching 3% by 2030, and the Liberal Democrats’ long-term aim to double R&D spending. This is a welcome contrast to the 2015 election, when no parties committed to more than a nominal ring-fence of the science budget.’


Related Links:
ccrmagazine.com - Centre for Economic Performance report on the UK's new industrial strategy

The UK's New Industrial Strategy

CEP Growth

Anna Valero webpage



News Posted: 30/05/2017      [Back to the Top]

Market News

UK reality check: BOE wage growth forecasts implausible: CEP

Bank of England Monetary Policy Committee claims that nominal wage growth will return close to 4% by 2019 are "rather implausible and over-optimistic", according to two respected academics at the Centre for Economic Performance. Interviewed for the latest MNI Reality Check, Professor Stephen Machin, Director of the CEP, along with Rui Costa, a fellow researcher at the body, said that existing pressures would not alleviate enough over the near-term horizon to justify the MPC's prediction laid out in the Bank's latest Inflation Report, published earlier this month.


Related Links:
Market News - UK reality check: BOE wage growth forecasts implausible: CEP

Real Wages and Living Standards in the UK

CEP Education and Skills CEP Labour Markets

Rui Costa webpage

Stephen Machin webpage



News Posted: 30/05/2017      [Back to the Top]

iNews

Political pledges to cut immigration ‘will mean a drop in living standards'

The LSE study also states that immigration is not to blame for lower pay and prospects of low skilled workers. Academics behind the research said lower pay and prospects for UK workers was the result of the 2008 economic crash rather than immigration. Professor Jonathan Wadsworth, author of the report, said: “It is very difficult to find much evidence that immigration has had a negative effects on many sectors of the economy.

“Any adverse experiences of UK-born workers with regard to jobs and wages are much more closely associated with the biggest economic crash for more than 80 years.”

Related publications

Election Analyses series; ‘Immigration and the UK Economy’ Jonathan Wadsworth. May 2017. http://cep.lse.ac.uk/pubs/download/ea039.pdf

Related links

CEP Election Analyses series http://cep.lse.ac.uk/election2017/default.asp


Related Links:
iNews - Political pledges to cut immigration ‘will mean a drop in living standards'

Immigration and the Access to Social Housing in the UK

CEP Labour Markets

Jonathan Wadsworth webpage



News Posted: 30/05/2017      [Back to the Top]

Jornal de Negócios

A solução escandinava de Macron para a França / Macron's Scandinavian solution for France

Article by Philippe Aghion

What Macron likes about the Scandinavian model is that it combines a high degree of flexibility in the labor market with the encouragement of innovation and with high levels of social protection....


Related Links:
Jornal de Negócios - A solução escandinava de Macron para a França / Macron's Scandinavian solution for France

CEP Growth

Philippe Aghion webpage



News Posted: 28/05/2017      [Back to the Top]

Il Sole 24 Ore

Le bugie di Donald Trump sul commercio / Donald Trump's lies on business

Article by Gianmarco Ottaviano

…at the G7 in Taormina, an extraordinary thesis was presented to the international community. According to the new US presidency, from the liberalization of international trade, the US would not have obtained what they would have to pay.


Related Links:
Il Sole 24 Ore - Le bugie di Donald Trump sul commercio / Donald Trump's lies on business

CEP Trade

Gianmarco Ottaviano webpage



News Posted: 28/05/2017      [Back to the Top]

Brighton and Hove News

Hundreds turn out for Save Our Schools rally

According to Sandra McNally, professor of economics at Surrey University, the Conservatives’ figures are misleading. This is because the “per pupil figure” was frozen from 2010 to 2011 and again from 2015 to 2016.

She argues that an increase in the core funding for schools is not the same as an increase in the amount per pupil. A freeze in cash terms is likely to result in a reduction in real terms of 6.5 per cent between 2010 and 2020. This reduction has not happened yet and school funding has doubled in the last 20 years

Related publications

CEP Election Analysis: Education and Skills: The UK Policy Agenda, Sandra McNally and Gill Wyness,June 2017 Paper No' CEPEA041. http://cep.lse.ac.uk/pubs/download/ea041.pdf

Related links

CEP Election 2017 webpage: http://cep.lse.ac.uk/election2017/default.asp

 

 


Related Links:
Brighton and Hove News - Hundreds turn out for Save Our Schools rally

CEP Education and Skills CEP CVER

Sandra Mcnally webpage

Gill Wyness webpage



News Posted: 27/05/2017      [Back to the Top]

The Conversation UK

Cut immigration and the UK's economic prospects will just get worse – here's why

Jonathan Wadsworth and colleagues at the London School of Economics showed convincingly that across UK local authorities from 2008-15, EU immigrants had no statistically significant impact on the real wages of UK-born workers. Neither did it affect the job prospects of low-skilled UK-born workers.

Related publications

CEP BREXIT ANALYSIS NO. 5 ‘Brexit and the Impact of Immigration on the UK’ Jonathan Wadsworth, Swati Dhingra, Gianmarco Ottaviano and John Van Reenen. May 2016.

http://cep.lse.ac.uk/pubs/download/brexit05.pdf

 

Related links

CEP Brexit 2016 webpage:  http://cep.lse.ac.uk/brexit/


Related Links:
The Conversation UK - Cut immigration and the UK's economic prospects will just get worse – here's why

CEP Trade CEP Labour Markets

Jonathan Wadsworth webpage

Swati Dhingra webpage

Gianmarco Ottaviano webpage

John Van reenen webpage



News Posted: 26/05/2017      [Back to the Top]

Quarterly Journal of Economics, Volume 132, Issue 2, May 2017

‘Smart and Illicit: Who Becomes an Entrepreneur and Do They Earn More?'

Article by Ross Levine; Yona Rubinstein

ISSN 0033-5533, EISSN 1531-4650.

 

Related publications

‘In brief...'Smart and illicit': the making of a successful entrepreneur’
Ross Levine and Yona Rubinstein. Article in CentrePiece Volume 18, Issue 2, Autumn 2013


Related Links:
Quarterly Journal of Economics, Volume 132, Issue 2, May 2017 - ‘Smart and Illicit: Who Becomes an Entrepreneur and Do They Earn More?'

In brief...'Smart and illicit': the making of a successful entrepreneur

CEP Labour Markets CEP Community

Yona Rubinstein webpage



News Posted: 25/05/2017      [Back to the Top]

Public Finance

NHS and social care staffing crisis ‘not addressed in general election manifestos'

The parties all recognised funding shortfalls, rising costs, demographic pressures, increased expectations, and changes in health technology and medical practice, the London School of Economics Centre for Economic Performance found.

The report noted 70% of NHS expenditure goes on staffing, stating “it is no surprise that as expenditure tightens, staffing issues are a growing problem”.

Professor Alistair McGuire, author of the report, said: “The growing crisis in staffing in the NHS, which accounts for 70% of total NHS expenditure, is recognised by all parties but remains to be fully addressed.”

Related publications

CEP Election Analyses Series ‘The NHS and Social Care: Prospects for Funding, Staffing and Performance into the 2020s’ Alistair McGuire. May 2017 http://cep.lse.ac.uk/pubs/download/ea037.pdf

 

Related links

CEP Election 2017   http://cep.lse.ac.uk/election2017/abstract.asp?index=5431

Alistair McGuire webpage: http://www.lse.ac.uk/LSEHealthAndSocialCare/whosWho/LSEHealth/profiles/ajm cguire@lseacuk.aspx

LSE Health and Social Care Programme webpage:   http://www.lse.ac.uk/LSEHealthAndSocialCare/home.aspx


Related Links:
Public Finance - NHS and social care staffing crisis ‘not addressed in general election manifestos'





News Posted: 25/05/2017      [Back to the Top]

Gulf News Analysis

Superstar multinationals need to be put on a tight leash

As the economists David Autor, David Dorn, Lawrence F. 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. This increased market concentration is widening the gap between the firms that own the robots (capital) and the workers whom the robots are replacing (labour).


Related Links:
Gulf News Analysis - Superstar multinationals need to be put on a tight leash

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

CEP Growth

John Van reenen webpage



News Posted: 24/05/2017      [Back to the Top]

Investopedia

Trump economic uncertainty worse than 2008 crisis

Increases in policy uncertainty "foreshadow declines in investment, output and employment in the United States," according to the developers of the Economic Policy Uncertainty Index, professors Scott R. Baker of Northwestern University, Nicholas Bloom of Stanford University and Steven J. Davis of the University of Chicago, CNBC reports. As measured by the EPU index, the election of Donald Trump as president so far is the third most uncertainty-inducing event for the U.S. since the beginning of 1985, CNBC reports, sending it to an average value of 254 in November.

Related publications

‘Economic Recovery and Policy Uncertainty’, Scott R. Baker, Nick Bloom, Steven J. Davis and John Van Reenen, CEP US Election Analysis No.2, October 2012

http://cep.lse.ac.uk/pubs/download/cepusa002.pdf


Related Links:
Investopedia - Trump economic uncertainty worse than 2008 crisis

CEP Growth

Nick Bloom webpage



News Posted: 22/05/2017      [Back to the Top]

Jordan Times

Restoring digital economy competition

Today’s superstar companies owe their privileged position to digital technology’s network effects, whereby a product becomes even more desirable as more people use it.

And although software platforms and online services can be costly to launch, expanding them is relatively inexpensive.

Consequently, firms that are already established can keep growing with far fewer workers than they would have needed in the past.

These factors help to explain why the digital economy has given rise to large firms that have a reduced need for labour. And, once these firms are established and dominate their chosen market, the new economy allows them to pursue anti-competitive measures that prevent actual and potential rivals from challenging their position. And, as the economists David Autor, David Dorn, Lawrence F. 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.

Also in:

Monday 22 May

MENAFN

Jordan – restoring digital economy competition

http://menafn.com/1095505479/Jordan--Restoring-digital-economy-competition


Related Links:
Jordan Times - Restoring digital economy competition

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

CEP Growth

John Van reenen webpage



News Posted: 22/05/2017      [Back to the Top]

Harpers

LWF Day One: The big Brexit debate

Breaking down the cloud of uncertainty brought about by Brexit into manageable bite-sized pieces was the objective of panelists at this afternoon’s London Wine Fair industry briefing. A panel of industry experts from political, economic, legal and business backgrounds framed the general “Brexit debate” hanging over the industry by looking at what can and can’t be predicted, and also by prioritising some of the concerns. One of the issues widely predicted to cause mass headaches following the referendum has been the effect of trade tariffs on producers exporting to the UK. But from an economics point of view, Dr Swati Dhingra from the London School of Economics argued that non-tariff barriers such as foreign investment will have the far bigger impact on GDP. “If we leave the single market and the EU, the impact on tariffs would be between 1% and 3% - probably around 1.5%. But non-tariff barriers, such as a lack of foreign investment, have the much bigger potential to contribute to a reduction of GDP.

Related links

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


Related Links:
Harpers - LWF Day One: The big Brexit debate

CEP Trade

Swati Dhingra webpage



News Posted: 22/05/2017      [Back to the Top]

Hindu Online

Walk with purpose

Snippet: ... you lose those extra kilos or keep you at your optimum weight. Avoid turning it into a social exercise though, rather than one that is concentrated on the cardiovascular activity you set out for it to be! A study by the London School of Economics reported that people...


Related Links:
CEP Wellbeing

Grace Lordan webpage



News Posted: 22/05/2017      [Back to the Top]

LSE Business Review blog

What research tells us about the avocado toast controversy


Related Links:
LSE Business Review blog - What research tells us about the avocado toast controversy

CEP Wellbeing

Clement Bellet webpage



News Posted: 22/05/2017      [Back to the Top]

Business Mirror

The rise of superstar firms

Article by John Van Reenen and Christina Patterson

In most countries, labor’s share of the national income has declined for about three decades. Why? Maybe the cause is “Robocalypse Now”—firms replacing expensive people with cheaper machines. Or maybe Chinese imports have caused employers to outsource employment. However, China itself is experiencing a labor share decline. We suggest another factor: the rise of superstar firms. Over the last 40 years, more industries have become “winner take most”. Firms with a cost or quality advantage have always enjoyed higher market shares. But the new behemoths of our age capture a much larger fraction—if not all—of their markets. Think Amazon.com, Apple and Google, or Goldman Sachs and Wal-Mart. These superstar firms make lots of profit per employee, so as they become a bigger part of the economy, labor’s share of gross domestic product declines.


Related Links:
Business Mirror - The rise of superstar firms

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

CEP Growth

John Van reenen webpage



News Posted: 21/05/2017      [Back to the Top]

Lkm – The Education and Youth ‘think and action-tank' – The LKMco Podcast

#002 – Research Round Up: Social segregation and white Working Class boys

In episode #002  Dr Sam Baars talks to George Duoblys. They ask do faith schools perpetuate social social segregation? Is focusing on white working class boys helpful? Do Ofsted’s gradings for nurseries really measure the right things?  Centre for Economic Performance research by Jo Blanden, Kirstine Hansen and Sandra McNally mentioned in the video.

Related publications

‘Quality in Early Years Settings and Children’s School Achievement’, Jo Blanden, Kirstine Hansen and Sandra McNally, Centre for Economic Performance Discussion Paper No.1468, February 2017

http://cep.lse.ac.uk/pubs/download/dp1468.pdf


Related Links:
Lkm – The Education and Youth ‘think and action-tank' – The LKMco Podcast - #002 – Research Round Up: Social segregation and white Working Class boys

Quality in Early Years Settings and Children’s School Achievement

CEP Education and Skills

Jo Blanden webpage

Sandra Mcnally webpage



News Posted: 19/05/2017      [Back to the Top]

BBC

Radio 5 Live (09:25:01)

Snippet: ... artifice follows on life it is my 2nd point the question that the media should be asking the Tories there are countless countless reports the OBR the report I FF John comport system works and Worldcom this London school of economics they all say that for basically the same thing immigrants pay more into the Exchequer then they take care now and that includes public services as well so if you want to reduce immigration the question should be asked of the Tories won the launch launching their manifesto should be asked again and again and again is that this could create a black hole so the question simply is what taxes are you going to raise or what public services so you don't go because she just said how airline on people coming over here…Click to open

Related publications

‘Brexit and the Impact of Immigration on the UK’, Jonathan Wadsworth, Swati Dhingra, Gianmarco Ottaviano and John Van Reenen, CEP Brexit Analysis Paper No.05, May 2016

http://cep.lse.ac.uk/pubs/download/brexit05.pdf

 


Related Links:
CEP Labour Markets

Jonathan Wadsworth webpage



News Posted: 18/05/2017      [Back to the Top]

CNBC online

Trump economic ‘uncertainty' worse than '08 financial crisis levels, index shows

Increases "in policy uncertainty foreshadow declines in investment, output, and employment in the United States," the three professors who created the index wrote in a 2016 paper. The index was created in 2011 by Scott R. Baker of Northwestern University, Nicholas Bloom from Stanford University and Steven J. Davis, of the University of Chicago.

 

Related publications

‘Economic Recovery and Policy Uncertainty’, Scott R. Baker, Nick Bloom, Steven J. Davis and John Van Reenen, CEP US Election Analysis No.2, October 2012

http://cep.lse.ac.uk/pubs/download/cepusa002.pdf


Related Links:
CNBC online - Trump economic ‘uncertainty' worse than '08 financial crisis levels, index shows

CEP Growth

Nick Bloom webpage



News Posted: 18/05/2017      [Back to the Top]

Time

The jobs that weren't saved

Nevertheless, manufacturers see cause for optimism. The U.S. economy has added some 41,000 manufacturing jobs since February, and large firms such as GM and Hyundai have announced new investments in U.S. factories--often with the White House's encouragement. Thanks in part to regulatory changes and proposed tax cuts, the National Association of Manufacturers (NAM) says 93% of member companies it surveyed have a positive outlook on the economy--a 20-year high. "What manufacturers see is an agenda from the federal level that is focused on growth," says Jay Timmons, NAM's president and CEO. Many economists are far more skeptical. They say the nature of manufacturing work has fundamentally changed and they don't believe tax cuts and protectionism can deliver a Rust Belt revival. "Those are not the policy solutions of the future," says John Van Reenen, a professor of applied economics at MIT. Pointing to the U.S. trade wars of the 1930s that worsened the Great Depression, he says, "Those are the policy failures of the past."


Related Links:
Time - The jobs that weren't saved

CEP Growth

John Van reenen webpage



News Posted: 18/05/2017      [Back to the Top]

Vox

Impact of lower-rated journals on economists' judgements of publication lists

Article by Nattavudh Powdthavee, Yohanes E. Riyanto and Jack L. Knetsch

Economists are judged on both the number of times they publish and where they publish. Yet very little is known about the impact on reputation of including lower-rated journals in an author’s list of publications. This column presents evidence that including these publications has a negative impact on judgements of the author’s contribution by other economists. To the extent that such judgements may influence research and publication strategies, the findings imply negative implications for social welfare.


Related Links:
Vox - Impact of lower-rated journals on economists' judgements of publication lists

CEP Wellbeing

Nattavudh Powdthavee webpage



News Posted: 18/05/2017      [Back to the Top]

Arab News

Restoring competition in the digital economy

As the economists David Autor, David Dorn, Lawrence F. Katz, Christina Patterson and John Van Reenen show, the US industries with the fastest-growing market concentration have also seen the largest drop in labor’s share of income.


Related Links:
Arab News - Restoring competition in the digital economy

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

CEP Growth

John Van reenen webpage



News Posted: 18/05/2017      [Back to the Top]

Faro de Vigo (Spain)

A degradation gives quality to the public health system Galego

Luis Garicano, professor of the London School of Economics and responsible for economy, industry and knowledge of citizens, Expoñía ("exceptional doctors who say goodbye soon and badly", the Spaniard, 16/4/17) to Súa surprise polo Tratamento vexatorio ao final da sua race of dous Médicos Excepcionais:…


Related Links:
Faro de Vigo (Spain) - A degradation gives quality to the public health system Galego

CEP Growth

Luis Garicano webpage



News Posted: 18/05/2017      [Back to the Top]

The Cloudland Collective

‘Robots are coming for your job!' – Liz Ross

In the period 1993-2007, Graetz and Michaels found that in 14 industries in 17 developed countries including Australia, industrial robots increase labour productivity, total factor productivity and wages. They had no significant effect on total hours worked but did impact the number of jobs. So in essence, robots did not reduce toil (hours of work) for those who had work, on the contrary. But they did lead to a loss of jobs for the unskilled and even those with some skills.  So more toil, not less hours; and more unemployment.

Related publications

Robots at work: the impact on productivity and jobs’, Georg Graetz, Guy Michaels, Article in CentrePiece  Volume 20, Issue 1, Summer 2015


Related Links:
The Cloudland Collective - ‘Robots are coming for your job!' – Liz Ross

Robots at work: the impact on productivity and jobs

CEP Labour Markets

Georg Graetz webpage

Guy Michaels webpage



News Posted: 17/05/2017      [Back to the Top]

LA Times

Strong economic outlook may help cushion Trump through Washington turmoil

Strong economic outlook may help cushion Trump through Washington turmoil

Economists such as Nicholas Bloom, a Stanford University Professor who’s been tracking the rising degree of uncertainty in recent weeks, were puzzled that the markets were shrugging off the succession of troubling news coming out of Washington.

Related publications

‘Economic Recovery and Policy Uncertainty’, Scott R. Baker, Nick Bloom, Steven J. Davis and John Van Reenen, CEP US Election Analysis No.2, October 2012

http://cep.lse.ac.uk/pubs/download/cepusa002.pdf


Related Links:
LA Times - Strong economic outlook may help cushion Trump through Washington turmoil

CEP Growth

Nick Bloom webpage



News Posted: 17/05/2017      [Back to the Top]

Svenska Dagbladet Online (Sweden)

''Sanandaji vilseleder läsarna i sin bok om invandring''/''Snandaji mislead the readers of his book on immigration''

There is an extensive economic research literature on immigration and crime. Two of the international Authorities are Brian Bell (Oxford University) and Stephen Machin (LSE).   Sanandaji also refers to these two researchers with a quotation to give support to what he calls the first-order factor. But citing the text says that the social and economic cost of crime (in general) are usually estimated as high, and that each link between immigration and crime must be taken very seriously. But what Sanandaji carefully avoids mentioning is that Bell and Machin’s research indicates that the migration effect on crime is not very large (source 3).


Related Links:
Svenska Dagbladet Online (Sweden) - ''Sanandaji vilseleder läsarna i sin bok om invandring''/''Snandaji mislead the readers of his book on immigration''

Immigrant Enclaves and Crime

Crime and Immigration: Evidence from Large Immigrant Waves

CEP Labour Markets

Brian Bell webpage

Stephen Machin webpage



News Posted: 17/05/2017      [Back to the Top]

Vox

Adding a piece to the productivity puzzle: Management practices

Article by Nicholas Bloom, Erik Brynfolfsson, Lucia Foster, Ron Jarmin, Megha Patnaik, Itay Saporta Eksten and John Van Reenen

Disentangling the relationship between management practices and productivity has been hampered by the absence of large sample data across plants and firms. This column exploits a new survey covering US manufacturing to show that management practices vary both among and within companies. Furthermore, management practices are just as important for productivity as a number of other factors associated with successful businesses, such as technology adoption.

Related publications

What Drives Differences in Management? Nicholas Bloom, Erik Brynjolfsson, Lucia Foster, Ron Jarmin, Megha Patnaik, Itay Saporta-Eksten and John Van Reenen, Centre for Economic Performance Discussion Paper No.1470, March 2017


Related Links:
Vox - Adding a piece to the productivity puzzle: Management practices

What Drives Differences in Management?

CEP Growth

Nick Bloom webpage

John Van reenen webpage



News Posted: 17/05/2017      [Back to the Top]

NIESR Blog

Britain's skills problem

Article by Sandra McNally

It is well known and acknowledged in the government’s Industrial Strategy that Britain has a skills problem: ‘We have a shortage of technical-level skills and rank 16th out of 20 countries for the proportion of people with technical qualifications’. As the Green Paper also says, ‘a bewildering complex array of qualifications, some of which are poor quality, makes the system hard to use for students and employers’. This shortage of ‘technical level skills’ is important because it impacts on economic growth, inequality and social mobility. It also affects a lot of people. Well over half of young people do not do A-levels each year. Furthermore, only about 35-40% of a typical cohort finishing their GCSEs can expect to go to university. The shortage of ‘technical skills’ mainly needs to be supplied by those who choose non-academic pathways. This is a major educational issue and all parties should be addressing it in their manifestos.

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

Post-Compulsory Education in England: Choices and Implications Claudia Hupkau, Sandra McNally, Jenifer Ruiz-Valenzuela and Guglielmo Ventura, CVER Discussion Paper No.1, July 2016

Post-16 educational choices in England’, Claudia Hupkau, Sandra McNally, Jenifer Ruiz-Valenzuela and Guglielmo Ventura. Article in CentrePiece Volume 22, Issue 2, Autumn 2016


Related Links:
NIESR Blog - Britain's skills problem

CEP CVER CEP Education and Skills

Sandra Mcnally webpage



News Posted: 17/05/2017      [Back to the Top]

The Times

A squeeze on wages will set the tone for whoever wins on June 8

There are three reasons to be sceptical about the Bank’s forecasts for the growth in earnings in future years, and hence the recovery in real wages. One is that unemployment may not stay as low as 4.5 per cent. Most forecasters, including the EY Item Club, which reported earlier this week, think that slower growth will mean a rise in unemployment, which could press down on the growth in wages. Second, as David Blanchflower, a former member of the Bank’s monetary policy committee (MPC), Rui Costa and Stephen Machin of the London School of Economics’ Centre for Economic Performance (CEP) point out in a paper, The Return of Falling Real Wages, the Bank has form on overpredicting the growth in wages. Two years ago the Bank was predicting 4 per cent earnings growth for 2017. Now it expects half that rate, a 2 per cent increase in earnings which the CEP paper says is the new norm.


Related Links:
The Times - A squeeze on wages will set the tone for whoever wins on June 8

The Return of Falling Real Wages

CEP Labour Markets

Rui Costa webpage

Stephen Machin webpage



News Posted: 17/05/2017      [Back to the Top]

Guardian

Unemployment is at its lowest since 1975, so why do people feel worse off?

One reason for the weakness of earnings growth is the ferocious squeeze on public sector pay, which – stripped of bonus payments – is rising at just 1.3% a year. A second factor is that employers are able to buy in cheap labour from overseas. Migration from other EU countries has not fallen off a cliff despite the result of last summer’s referendum: according to the Office for National Statistics, the number of non-UK nationals from the EU working in the UK rose by 171,000 to 2.32 million between the first quarter of 2016 and the first quarter of 2017. This continues a trend, which has seen the number of workers from the other 27 EU countries double since the recession of 2008-09. Finally, the nature of work seems to have changed. Work by David Blanchflower, Rui Costa and Stephen Machin has shown that earnings growth for the self-employed – who account for 15% of the workforce – has been particularly weak in recent years. People are working flat out in the gig economy but still struggling to make ends meet. The labour market has, for want of a better word, been Uberised.


Related Links:
Guardian - Unemployment is at its lowest since 1975, so why do people feel worse off?

The Return of Falling Real Wages

CEP Labour Markets

Rui Costa webpage

Stephen Machin webpage



News Posted: 17/05/2017      [Back to the Top]

TES (online)

The UK's first university centre for improving mental health in schools

Earlier this month, Lord Layard, director of the wellbeing programme at the London School of Economics’ Centre for Economic Performance, called for all schools to employ a senior teacher in charge of mental health.


Related Links:
TES (online) - The UK's first university centre for improving mental health in schools

CEP Wellbeing

Richard Layard webpage



News Posted: 16/05/2017      [Back to the Top]

The Debrief

New report suggests there's bad news on the horizon for the UK job market

David Blanchflower, a former Bank of England policymaker and a London School of Economics professor, is saying that wages are likely to remain low for several years. He’s particularly critical of how the Bank of England is handling the situation, as their forecasting for wage growth consistently expects it to revert to around 4% within 18 months which, at least for the last 10 forecasts, just hasn’t happened.

 

Related publications

‘The Return of Falling Real Wages’, David Blanchflower, Rui Costa and Stephen Machin, Real Wages Update blog No.6, May 2017

http://cep.lse.ac.uk/pubs/download/rwu006.pdf


Related Links:
The Debrief - New report suggests there's bad news on the horizon for the UK job market

CEP Education and Skills CEP Labour Markets

Rui Costa webpage

Stephen Machin webpage



News Posted: 15/05/2017      [Back to the Top]

VOX

Great Divergences: The growing dispersion of wages and productivity in OECD countries

Article by Giuseppe Berlingieri, Patrick Blanchenay and Chiara Criscuolo

Some firms pay well while others don’t; and some are highly productive while many aren’t. This column presents new firm-level data on the increasing dispersion of wages and productivity in both the manufacturing and services sectors in 16 OECD countries. Wage inequalities are growing between firms, even those operating in the same sector – and they are linked to growing differences between high and low productivity firms. Both globalisation and technological progress (notably information and communications technologies) influence these outcomes – as do policies and institutions such as minimum wages, employment protection legislation, unions, and processes of wage-setting.

Related links

Giuseppe Berlingieri CEP publications webpage:  http://cep.lse.ac.uk/_new/publications/author.asp?author=berlingieri


Related Links:
VOX - Great Divergences: The growing dispersion of wages and productivity in OECD countries

CEP Trade



News Posted: 15/05/2017      [Back to the Top]

Fiscal Studies

‘Academies 2: The New Batch - The Changing Nature of Academy Schools in England'

Andrew Eyles, Stephen Machin and Olmo Silva

Accepted manuscript online: 27 May 2017

DOI: 10.1111/j.1475-5890.2017.12146


Related Links:
Fiscal Studies - ‘Academies 2: The New Batch - The Changing Nature of Academy Schools in England'

Academy schools and pupil outcomes

CEP Education and Skills

Andrew Eyles webpage

Stephen Machin webpage

Olmo Silva webpage



News Posted: 14/05/2017      [Back to the Top]

CEP citations

‘New Automation Technologies and Job Creation and Destruction Dynamics', Employment Policy Brief, International Labour Office p.3.

 ‘The first of these studies uses an industry-level robotics dataset to estimate the impact of the implementation of industrial robots on wages, productivity nd working hours from the 1990s to 2007 in an econometric analysis of 17 developed countries.’

Cites: Graetz, Georg; Michaels, Guy. 2015. “Robots at Work”, IZA Discussion Paper No. 8928. Bonn, Institute of Labor Economics.

 

Related publications

Robots at work: the impact on productivity and jobs’, Georg Graetz, Guy Michaels, Article in CentrePiece  Volume 20, Issue 1, Summer 2015


Related Links:
CEP citations - ‘New Automation Technologies and Job Creation and Destruction Dynamics', Employment Policy Brief, International Labour Office p.3.

Robots at work: the impact on productivity and jobs

CEP Labour Markets

Georg Graetz webpage

Guy Michaels webpage



News Posted: 14/05/2017      [Back to the Top]

Veren of Lood (Holland)

Econmoische aanraders/Economic recommendations

Recommends:

Jobless recoveries: Exploring technology’s role – Georg Graetz, Guy Michaels - 13 mei

Recoveries from recessions in the US used to involve rapid job generation, but job growth has failed to match GDP recovery after recent US recessions. This column examines the role of technology in this and asks whether jobless recoveries are a wider problem outside of the US. In the US, industries that are more prone to technological change experienced slower job growth during recent recoveries, but it appears unlikely that modern technologies are causing jobless recoveries outside of the US. This poses a puzzle as to the nature of recent jobless US recoveries.

Related article

‘Jobless recoveries: Exploring technology’s role’, Georg Graetz and Guy Michaels, Vox blog, 13 May

Recoveries from recessions in the US used to involve rapid job generation, but job growth has failed to match GDP recovery after recent US recessions. This column examines the role of technology in this and asks whether jobless recoveries are a wider problem outside of the US. In the US, industries that are more prone to technological change experienced slower job growth during recent recoveries, but it appears unlikely that modern technologies are causing jobless recoveries outside of the US. This poses a puzzle as to the nature of recent jobless US recoveries. 

http://voxeu.org/article/jobless-recoveries-exploring-technologys-role

 

Related publications

In brief... Is technology to blame for jobless recoveries? Georg Graetz and Guy Michaels. Article in CentrePiece 22 (1) Spring 2017


Related Links:
Veren of Lood (Holland) - Econmoische aanraders/Economic recommendations

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

CEP Labour Markets

Georg Graetz webpage

Guy Michaels webpage



News Posted: 14/05/2017      [Back to the Top]

Naked Capitalism

Jobless recoveries: exploring technology's role

Article by Georg Graetz and Guy Michaels. Article originally published at VoxEU, Saturday 13 May

Recoveries from recessions in the US used to involve rapid job generation. During the 1970s and 1980s, the first two years of recoveries saw an average increase in employment of over 5%. But since the 1990s, the job recovery engine has slowed down, and the first two years of recoveries have generated, on average, less than a 1% increase in employment (Gali et al. 2012). This recent joblessness of recoveries exceeds what we would expect based only on the recovery of GDP, and has caused concern among policymakers. In our latest research, we investigate whether the jobless recovery is a wider problem that plagues developed countries outside the US, and whether modern technologies may be an underlying cause (Graetz and Michaels 2017).

Related publications

In brief... Is technology to blame for jobless recoveries? Georg Graetz and Guy Michaels. Article in CentrePiece Volume 22, Issue 1, Spring 2017
Is Modern Technology Responsible for Jobless Recoveries? Georg Graetz and Guy Michaels, Centre for Economic Performance Discussion Paper No.1461, January 2017


Related Links:
Naked Capitalism - Jobless recoveries: exploring technology's role

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

CEP Labour Markets

Georg Graetz webpage

Guy Michaels webpage



News Posted: 14/05/2017      [Back to the Top]

National Institute Economic Review, 240(1), May 2017

‘Post-Compulsory Education in England: Choices and Implications'

Claudia Hupkau, Sandra McNally, Jenifer Ruiz-Valenzuela and Guglielmo Ventura

DOI: 10.1177/002795011724000113

Related publications

Post-Compulsory Education in England: Choices and Implications Claudia Hupkau, Sandra McNally, Jenifer Ruiz-Valenzuela and Guglielmo Ventura, CVER Discussion Paper No.1, July 2016

Post-16 educational choices in England’, Claudia Hupkau, Sandra McNally, Jenifer Ruiz-Valenzuela and Guglielmo Ventura. Article in CentrePiece Volume 22, Issue 2, Autumn 2016


Related Links:
National Institute Economic Review, 240(1), May 2017 - ‘Post-Compulsory Education in England: Choices and Implications'

CEP CVER CEP Education and Skills

Claudia Hupkau webpage

Sandra Mcnally webpage

Jenifer Ruiz-valenzuela webpage

Guglielmo Ventura webpage



News Posted: 12/05/2017      [Back to the Top]

American Economic Review,107(5): 168-73.

‘Is Modern Technology Responsible for Jobless Recoveries?'

Georg Graetz and Guy Michaels,

DOI: 10.1257/aer.p20171100

Related publications

In brief... Is technology to blame for jobless recoveries? Georg Graetz and Guy Michaels. Article in CentrePiece Volume 22, Issue 1, Spring 2017


Related Links:
American Economic Review,107(5): 168-73. - ‘Is Modern Technology Responsible for Jobless Recoveries?'

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

CEP Labour Markets

Georg Graetz webpage

Guy Michaels webpage



News Posted: 12/05/2017      [Back to the Top]

The Institute of Employment Rights

Is a robot after your job?

In 2015 by Georg Michaels[SIC] and Guy Graetz [SIC] published evidence from a dataset of companies in 17 countries gathered between 1993 and Subject articles 30 CLR News 1/2017 2007. They suggest that, while productivity increases with robotic innovation and some semi-skilled and lower skilled jobs are abandoned: “there is some evidence of diminishing marginal returns to robot use – ‘congestion effects’ – so they are not a panacea for growth. … this makes robots’ contribution to the aggregate economy roughly on a par with previous important technologies, such as the railroads in the nineteenth century and the US highways in the twentieth century.” Neither do robots do away with the contradictions within capitalist accumulation. This is because, as capital-bias and labour shedding takes place proportionately less, new value is created (as labour is the only source of new value) relative to the cost of invested capital. Added to this, as the economist Michael Roberts reminds us, worker resistance to the dystopia of permanent joblessness would surely ensure that the road to ‘full automation’, if ever constructed, would be a very rocky one.

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 Institute of Employment Rights - Is a robot after your job?

Robots at work: the impact on productivity and jobs

CEP Labour Markets

Georg Graetz webpage

Guy Michaels webpage



News Posted: 12/05/2017      [Back to the Top]

MIT Initiative on the Digital Economy

The labor impact of superstar firms

New research shows that the rise of ever-larger firms means that workers are getting a shrinking slice of a slower-growing economic pie.

Increasingly, labor accounts for less and less of GDP in most countries. Not only does this trend undermine decades of traditional economic thinking about the stability of the labor share, it heightens concerns about employment and wages. Where are jobs going and who will be most impacted? Theories abound about the extent of the decline and the causes. Some believe that increased use of IT is a key contributor, while others point to increased trade exposure, especially, from China. John Van Reenen, Professor in the MIT Department of Economics and Sloan School of Management (pictured, below), acknowledges these factors, but doesn’t think they are the primary drivers of the labor gap. He and his co-authors offer another explanation in a new working paper,


Related Links:
MIT Initiative on the Digital Economy - The labor impact of superstar firms

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

CEP Growth

John Van reenen webpage



News Posted: 11/05/2017      [Back to the Top]

Harvard Business Review

Research: The rise of superstar firms has been better for investors than for employees

Article by John Van Reenen and Christina Patterson

In America, labor’s share has been on the decline for about three decades, and it has accelerated since the turn of the century. The fall has also occurred in most other countries. In the U.S. the share of income that workers take home each year now hovers around 60%. … In a recent paper, we put forward a different story based on the rise of superstar firms. More and more industries have become “winner take most” over the last 40 years. Firms with a cost or quality advantage have always enjoyed higher market shares. In the “good old days,” more-productive companies would take a bigger slice of the market, but there would be plenty left over for their rivals. By contrast, the new behemoths of our age capture a much larger fraction — if not all — of their market. Think of Google, Apple, and Amazon in the digital sphere, or Walmart and Goldman Sachs in the offline world.


Related Links:
Harvard Business Review - Research: The rise of superstar firms has been better for investors than for employees

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

CEP Growth

John Van reenen webpage



News Posted: 11/05/2017      [Back to the Top]

TES

Every school should have a therapist, says happiness expert

Lord Layard also wants government to assess how much value schools add to pupils’ happiness

Every school should have an on-site therapist, according to one of the country’s leading economists and wellbeing experts. Lord Layard, director of the wellbeing programme at the London School of Economics’ Centre for Economic Performance, has also called for all schools to employ a senior teacher in charge of mental health. He wants child and adolescent mental health services (Camhs) to provide therapeutic services in schools. “Extra money for child mental health should be devoted to building a school-based wing of Camhs,” he said.


Related Links:
TES - Every school should have a therapist, says happiness expert

CEP Wellbeing

Richard Layard webpage



News Posted: 11/05/2017      [Back to the Top]

CEP research citations

Bell B and Machin S (2016) Brexit and Wage Inequality, Centre for Economic Performance, London School of Economics and Political Science, July 2016.

Cited in ‘Research for REGI Committee – Building Blocks for a Future Cohesion Policy – First Reflections: Study’, Directorate-General for Internal Policies, Policy Department B – Structural and Cohesion Policies’ European Parliament, April 2017

ISBN 978-92-846-0904-8

Doi: 10.2861/337566

http://www.europarl.europa.eu/RegData/etudes/STUD/2017/601974/IPOL_STU(2017)601974_EN.pdf

 

Related publications

Brexit and Wage Inequality, Brian Bell and Stephen Machin, Centre for Economic Performance, London School of Economics and Political Science, July 2016. (http://cep.lse.ac.uk/textonly/_NEW2014/BREXIT/Bell_Machin_BrexitWages.pdf)


Related Links:
CEP research citations - Bell B and Machin S (2016) Brexit and Wage Inequality, Centre for Economic Performance, London School of Economics and Political Science, July 2016.

CEP Labour Markets

Brian Bell webpage

Stephen Machin webpage



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

YouTube

Game of Mates – Interview with Paul Frijters

Game of Mates: How favours bleed the nation, is a new book by Dr Cameron K. Murray and Professor Paul Frijters that exposes the inner workings of Australia's economic elite.
In this video, Paul Frijters is interviewed about exactly how this great Game is hidden behind the 'economic scenes' in Australian life.

https://www.youtube.com/watch?v=7gSMYQkVfHw&feature=youtu.be

 

Related publications

Game Of Mates: How favours bleed the nation by Cameron Murray (Author), Paul Frijters (Author), Publicious Pty Limited, April 5, 2017

ISBN:  0648061108; 9780648061106

 


Related Links:
YouTube - Game of Mates – Interview with Paul Frijters

CEP Wellbeing

Paul Frijters webpage



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

Elite Daily (USA) Online

Experts Revealed The One Thing You Need To Truly Be Happy

Related publications

http://worldhappiness.report/

Helliwell, J., Layard, R., & Sachs, J. (2017). World Happiness Report 2017, New York: Sustainable Development Solutions Network. ISBN 978-0-9968513-5-0

 

Related links

Richard Layard webpage:  http://cep.lse.ac.uk/_new/staff/person.asp?id=970

Wellbeing Programme webpage:  http://cep.lse.ac.uk/_new/research/wellbeing/default.asp


Related Links:
Elite Daily (USA) Online - Experts Revealed The One Thing You Need To Truly Be Happy

CEP Wellbeing

Richard Layard webpage



News Posted: 20/03/2017      [Back to the Top]

Left Foot Forward (Online)

People are happier in more equal societies. Here's the evidence

On World Happiness Day we should be talking about inequality

Richard Layard among others has noted how happiness has stalled in many developed countries, despite considerable improvements in living standards over the last fifty years to so.

Related publications

http://worldhappiness.report/

Helliwell, J., Layard, R., & Sachs, J. (2017). World Happiness Report 2017, New York: Sustainable Development Solutions Network. ISBN 978-0-9968513-5-0

 

 


Related Links:
Left Foot Forward (Online) - People are happier in more equal societies. Here's the evidence

CEP Wellbeing

Richard Layard webpage



News Posted: 20/03/2017      [Back to the Top]

The Financial (Georgia) online

Norway takes top spot in 2017 World Happiness Report

The report also highlights the personal factors affecting happiness. As Professor Layard points out, “in rich countries the biggest single cause of misery is mental illness”…

Related publications

http://worldhappiness.report/

Helliwell, J., Layard, R., & Sachs, J. (2017). World Happiness Report 2017, New York: Sustainable Development Solutions Network. ISBN 978-0-9968513-5-0


Related Links:
The Financial (Georgia) online - Norway takes top spot in 2017 World Happiness Report

CEP Wellbeing

Richard Layard webpage



News Posted: 20/03/2017      [Back to the Top]

Allmediascotland.com

Media Release: SCDI Forum – Exporting key to resilient growth during Brexit and second independence referendum

The SCDI Forum – ‘Brave New Worlds? Economic Growth & Wealth Creation’ – will today (Thursday 16 March) consider the challenges and changes facing our economy, with presentations and discussions on the new industrial strategy and inclusive growth, as well as the particularly pressing topic of how we raise our sights to grow the value of our exports.

The agenda for day two of the SCDI Forum 2017 on Friday 17 March includes: …

  • Richard Davies - Chief of staff at the LSE Growth Commission; and former chair of the Council of Economic Advisers at HM Treasury and economics dditor at The Economist will discuss the Commission’s major new report, ‘UK Growth, A New Chapter’, on a post-Brexit strategy for modern labour markets, industrial strategy, ‘openness’ to trade and talent, and business finance and growth.

Related publications

'UK Growth: A New Chapter', LSE Growth Commission Report, February 2017.


Related Links:
Allmediascotland.com - Media Release: SCDI Forum – Exporting key to resilient growth during Brexit and second independence referendum

CEP Growth

Richard Davies webpage



News Posted: 17/03/2017      [Back to the Top]

Wall Street Italia

Perché serve una nuova economia/Why we need a new economics

Labor economists of the United Kingdom, as well as co-author of both Richard Layard that Steven Nickell, we need the introduction of the NAIRU in 1986.

Related publications

Combatting Unemployment IZA Prize in Labor Economics, Richard Layard and Stephen Nickell; Edited by Werner Eichhorst and Klaus F. Zimmermann, OUP, 2011, ISBN 978-0-19-960978-9

https://global.oup.com/academic/product/combatting-unemployment-9780199609789?q=978-0-19-960978-9&lang=en&cc=gb

‘Unemployment: Macroeconomic Performance and the Labour Market’, Richard Jackman, Richard Layard and Stephen Nickell, OUP, 2005, ISBN: 9780199279173

https://global.oup.com/academic/product/unemployment-9780199279166?cc=gb&lang=en&


Related Links:
Wall Street Italia - Perché serve una nuova economia/Why we need a new economics

CEP Labour Markets CEP Wellbeing

Richard Layard webpage



News Posted: 16/03/2017      [Back to the Top]

W Radio (Spain) online

Vicente Fox cree que 'la gente está perdiendo la confianza en la democracia/ Vicente Fox believes that 'people are losing confidence in democracy'

At the table today the economist Richard Layard, director of the office of the Bhutan gross national happiness, Saamdu Chetri and the spiritual leader also included Sri Sri Ravi Shankar, among others. EFE


Related Links:
W Radio (Spain) online - Vicente Fox cree que 'la gente está perdiendo la confianza en la democracia/ Vicente Fox believes that 'people are losing confidence in democracy'

CEP Wellbeing

Richard Layard webpage



News Posted: 16/03/2017      [Back to the Top]

Noroeste.com

Special Newsweek: the causes of unhappiness

Youth and young adults are especially vulnerable to mental illness

"We found, persistently and in all countries, that mental health problems are the leading causes of suffering", says Richard Layard of the London School of Economics, who, together with his colleague Sarah Flèche, analyzed happiness and satisfaction surveys carried out around the world.

See also

Saturday 11 March

Newsweek en Español

Las causas de la infelicidad

http://nwnoticias.com/#!/noticias/las-causas-de-la-infelicidad

 

Related publications

‘Do more of those in misery suffer from poverty, unemployment or mental illness?’, Sarah Fléche and Richard Layard, KYKLOS International Review for Social Sciences Volume 70, Issue 1, February 2017

DOI: 10.1111/kykl.12129

http://onlinelibrary.wiley.com/doi/10.1111/kykl.12129/abstract


Related Links:
Noroeste.com - Special Newsweek: the causes of unhappiness

CEP Wellbeing

Sarah Flèche webpage

Richard Layard webpage



News Posted: 15/03/2017      [Back to the Top]

Thanhnien.vn (Vietnam)

British students taught happiness

Professor Richard Layard, the British Government's Adviser in the test program conducted in 26 schools.


Related Links:
Thanhnien.vn (Vietnam) - British students taught happiness

CEP Wellbeing

Richard Layard webpage



News Posted: 14/03/2017      [Back to the Top]

The Canary

The government has a new way to tackle the childhood mental health crisis

Schools across the country are going to trial lessons on happiness and dealing with mental health issues. Professor Richard Layard, who is a government adviser for a four-year trial of weekly mindfulness classes, says schools shouldn’t obsess about academic achievement. The well-being of pupils also matters.


Related Links:
The Canary - The government has a new way to tackle the childhood mental health crisis

CEP Wellbeing

Richard Layard webpage



News Posted: 13/03/2017      [Back to the Top]

US News

Brexit withdrawal pains loom over UK

Europe, not Britain, is seen as having the most leverage going into the talks. "The party with the most to lose has the weakest position," says Dennis Novy, a University of Warwick economist, "and that's the U.K." The EU is Britain's closest and largest trading partner. Forty-four percent of U.K. exports go to the EU, while only 8 to 17 percent of EU exports go to Britain. Novy says failing to reach a trade deal wouldn't completely quash U.K. markets for European goods and services anyway, just shrink them as rising prices dilute demand.


Related Links:
US News - Brexit withdrawal pains loom over UK

CEP Trade

Dennis Novy webpage



News Posted: 13/03/2017      [Back to the Top]

Business Insider (Italy)

Brexit, l'appello della London School of Economics: ''Immigrati fondamentali per l'economia''/Brexit, the appeal of the London School of Economics: ''Immigrants are fundamental to the economy''

Brexit constringerà the United Kingdom to rethink all its economic policies: from the labour market to industrial policy, from immigration to foreign trade. A commitment is certainly not trivial for the Government by Theresa May that still waits for the green light from Parliament to invoke article 50 of the European treaties setting in motion the process that will lead Britain out of the borders of the European Union within the next two years. "For Britain, it is the hardest undertaking by the defeat of Nazism in World War II" admits election campaign manager Dominic Cummings, in support of Brexit. Of course, the outcome of the referendum has undermined even analysts and researchers engaged in studies in support of government policies. As in the case of the London School of economics that in 2013 has created the first "growth commission" a kind of white paper of the economy: "Brexit", so nobody imagined the result pushed the London School has rilancare a second Board for growth, "says Novella Bottini, a consultant for the London Institute.

Related publications

'UK Growth: A New Chapter', LSE Growth Commission Report, February 2017.


Related Links:
Business Insider (Italy) - Brexit, l'appello della London School of Economics: ''Immigrati fondamentali per l'economia''/Brexit, the appeal of the London School of Economics: ''Immigrants are fundamental to the economy''

CEP Growth CEP Trade

Philippe Aghion webpage

Tim Besley webpage

Stephen Machin webpage

Isabelle Roland webpage

Anna Valero webpage



News Posted: 12/03/2017      [Back to the Top]

The Guardian

Schools to trial happiness lessons for eight-year-olds

Lord Layard, who is a government adviser for a current four-year trial of weekly mindfulness classes in 26 schools, said there was an obsession with measuring only academic achievement.

“The development of the character of children is an incredibly important issue,” said Layard, who is also a professor at the London School of Economics and Political Science (LSE). “If you really want schools to take the wellbeing of their pupils as an important goal, there has to be a way of measuring that.”

Related publications

Vox

Origins of happiness: Evidence and policy implications

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


Related Links:
The Guardian - Schools to trial happiness lessons for eight-year-olds

CEP Wellbeing

Richard Layard webpage



News Posted: 12/03/2017      [Back to the Top]

Die Bundesregierung

Discussion with Chancellor Angela Merkel at the Third International German Forum

Chancellor Angela Merkel and international experts have discussed ways of improving global health. This is a matter of major importance, she said, and thus one of the priorities of Germany’s G20 Presidency.  Richard Layard speaking at 56:05 minutes.


Related Links:
Die Bundesregierung - Discussion with Chancellor Angela Merkel at the Third International German Forum

CEP Wellbeing

Richard Layard webpage



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

St Louis Post-Dispatch (USA)

Stacy Washington: Minimum wage hike will hurt city of St. Louis

Researchers Maarten Goos and Alan Manning posit in “Lousy and Lovely Jobs: the Rising Polarization of Work in Great Britain” that there is a general “hollowing out of middle income routine jobs” while “high income cognitive jobs and low income manual jobs” continue to produce increasing job opportunities. While I disagree that entry-level food service and retail work is middle income, their point is well-made. Any human function that can be sequenced and programmed, such as taking orders, flipping burgers or operating fry baskets, can and will be automated to save money.

Related publications

‘Lovely and lousy jobs’, Alan Manning.  Article in CentrePiece Volume 18, Issue 2, Autumn 2013 (http://cep.lse.ac.uk/pubs/download/CentrePiece_18_2.pdf)

http://cep.lse.ac.uk/pubs/download/cp398.pdf


Related Links:
St Louis Post-Dispatch (USA) - Stacy Washington: Minimum wage hike will hurt city of St. Louis

Lousy and Lovely Jobs: the Rising Polarization of Work in Britain

CEP Labour Markets CEP Community

Alan Manning webpage



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

Journal of Economic Geography

CEP Journal Articles

‘Agglomeration externalities and urban growth controls’, Wouter Vermeulen, Journal of Economic Geography Volume 17, Issue 1, January 2017

http://bit.ly/2n719tK

Related publications

Agglomeration Externalities and Urban Growth Controls Wouter Vermeulen, SERC/Urban and Spatial Programme Discussion Paper No.093, October 2011

Related links

Wouter Vermeulen webpage:  https://www.cpb.nl/medewerkers/wouter-vermeulen

‘Urban renewal after the Berlin Wall: a place-based policy evaluation’, Gabriel M. Ahlfeldt, Wolfgang Maennig and Felix J. Richter, Journal of Economic Geography Volume 17, Issue 1, January 2017

http://bit.ly/2n7160U

Related links

Gabriel Ahlfeldt webpage:  http://cep.lse.ac.uk/_new/staff/person.asp?id=10268

‘Innovation, SMEs and the liability of distance: the demand and supply of bank funding in UK peripheral regions’, Neil Lee and Ross Brown, Journal of Economic Geography Volume 17, Issue 1, January 2017

http://bit.ly/2mqOC0P

Related links

Neil Lee webpage:  http://www.lse.ac.uk/geographyAndEnvironment/whosWho/staff%20profiles/NLee.aspx

 


Related Links:
Journal of Economic Geography - CEP Journal Articles

CEP Urban and Spatial Programme

Gabriel Ahlfeldt webpage



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

CEP on TV/Radio

BBC York

17:20:17

Professor Martin Knapp comments on money for social care in the budget

Also on:

BBC Wiltshire


Related Links:
CEP on TV/Radio - BBC York

CEP Wellbeing

Martin Knapp webpage



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

LSE Business Review

Technology may not be responsible for jobless recoveries

Since the early 1990s, the US has been plagued by weak employment growth when emerging from recessions – so called ‘jobless recoveries’. Georg Graetz and Guy Michaels look at multiple recoveries elsewhere in the world over a 40-year period to see if the same applies – and whether modern technology is responsible.


Related Links:
LSE Business Review - Technology may not be responsible for 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: 09/03/2017      [Back to the Top]

Horticulture Week

Dutch TV news Javado and Alton Garden Centre Brexit report airs

Following Brexit, Dutch TV news has followed a consignment of orchids from Holland to Alton Garden Centre and visited last month's Garden Retail Summit.

Dutch TV channel NPO1 (equivalent to BBC1) followed the plant exports to the UK for themselves last week and visited the London School of Economics to get an insight into the impact of Brexit through Dutch/UK trade.  Nikhil Datta, a researcher at the London School of Economics, said the LSE has estimated that Brexit will have a negative effect of 0.75% on the Dutch economy.


Related Links:
Horticulture Week - Dutch TV news Javado and Alton Garden Centre Brexit report airs

CEP Labour Markets CEP Trade

Nikhil Datta webpage



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

A Tribuna (Brazil)

Pesquisas comprovam: dinheiro não compra felicidade/Polls show: money can't buy happiness

Having good mental health and being in a good relationship makes people happier than doubling income points says study.  The London School of Economics, in the United Kingdom, interviewed 200,000 people in Australia, United Kingdom, Germany and United States on the factors that most influence your sense of well-being. And having a partner positively led this list. "The evidence shows that the things that matter most to happiness are our relationships and our physical and mental health," says the study's co-author Richard Layard, an economist who initiated a few years ago a movement to create a happier and compassionate society, called action for Happiness.

 

Related publications

Associated article

Vox

Origins of happiness: Evidence and policy implications

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


Related Links:
A Tribuna (Brazil) - Pesquisas comprovam: dinheiro não compra felicidade/Polls show: money can't buy happiness

CEP Wellbeing

Richard Layard webpage



News Posted: 08/03/2017      [Back to the Top]

The New York Times

‘Superstar firms' may have shrunk workers' share of income

From manufacturing to retailing, giant companies have managed to gobble up a larger and larger share of the market. While such concentration has resulted in enormous profits for investors and owners of behemoths like Facebook, Google and Amazon, this type of “winner take most” competition may not be so good for workers as a whole. Over the last 30 years, their share of the total income kitty has been eroding. And the industries where concentration is the greatest is where labor’s share has dropped the most, according to research that analyzed confidential financial data from hundreds of companies. Think about the retail sector, where mom-and-pop stores once crowded the landscape. Now it is dominated by a handful of giants like Walmart, Target and Costco. “They’re very sophisticated and efficient and they don’t use as much labor,” said Mr. Autor, who worked on the research with a team of economists that included David Dorn, Lawrence F. Katz, Christina Patterson and John Van Reenen.

See also

Pagina (Italy)

Chi più innova meno paga/Who pays most

http://www.pagina99.it/2017/03/07/innovazione-stipendi-profitti-imprese-mit-u-s-economic-census/


Related Links:
The New York Times - ‘Superstar firms' may have shrunk workers' share of income

CEP Growth

John Van reenen webpage



News Posted: 08/03/2017      [Back to the Top]

BBC London 94.9 (Radio)

CEP on TV/Radio

19:00:01

Snippet: ...Martin Knapp discusses the Chancellor’s plans to put an extra £2 billion towards England’s social care systems.

Click to open

Also on BBC Radio 4, BBC Foyle, BBC Radio Ulster, BBC Radio Nottingham, BBC Lancashire


Related Links:
CEP Wellbeing

Martin Knapp webpage



News Posted: 08/03/2017      [Back to the Top]

Daily Republic Online

Specter of no Brexit deal haunts Britain's automakers

Swati Dhingra, an economics lecturer at the London School of Economics, estimated in a study prior to last year’s referendum that Brexit could reduce total U.K. car production by as much as 12 percent.

 

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


Related Links:
Daily Republic Online - Specter of no Brexit deal haunts Britain's automakers

CEP Trade

Swati Dhingra webpage



News Posted: 08/03/2017      [Back to the Top]

Jakarta Globe

Britain Seeks to Plug Skills Shortages Sapping Productivity

While skills shortages are a crucial element, they are not the only factor behind Britain's weak productivity, said London School of Economics researcher Anna Valero. Low business investment, a lack of focus on exports, limited public spending on infrastructure, and greater difficulty commercializing scientific research than in the United States, have all played a part, she added. Another difference is that Britain's easy-hire, easy-fire jobs market and low labor costs for many roles have made it viable to rely on low-skilled workers – boosting employment levels compared with other countries but discouraging investment in less labor-intensive working methods. This may be starting to change, with Britain's minimum wage now rising more steeply, in addition to new pension charges and the incoming apprenticeship levy for many employers.

 

Related publications

‘UK Growth: A New Chapter’, LSE Growth Commission Report, February 2017

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


Related Links:
Jakarta Globe - Britain Seeks to Plug Skills Shortages Sapping Productivity

CEP Growth

Anna Valero webpage



News Posted: 08/03/2017      [Back to the Top]

U.S. News and World Report

Dennis Novy gave an interview to the American news magazine U.S. News and World Report on 07 March 2017

The interview was about the negotiations on international trade between the UK and the EU that will follow once Article 50 has been triggered. In particular, the interview covered the strengths and weaknesses of the UK negotiating position on trade after Brexit, and how European partners might react to British demands.

https://www.usnews.com/ 


Related Links:
U.S. News and World Report - Dennis Novy gave an interview to the American news magazine U.S. News and World Report on 07 March 2017

CEP Trade

Dennis Novy webpage



News Posted: 07/03/2017      [Back to the Top]

Reuters

RPT-Britain seeks to plug skills shortages sapping productivity

While skills shortages are a crucial element, they are not the only factor behind Britain's weak productivity, said London School of Economics researcher Anna Valero. Low business investment, a lack of focus on exports, limited public spending on infrastructure, and greater difficulty commercialising scientific research than in the United States, have all played a part, she added.

 

Related publications

‘UK Growth: A New Chapter’, LSE Growth Commission Report, February 2017

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

 


Related Links:
Reuters - RPT-Britain seeks to plug skills shortages sapping productivity

CEP Growth

Anna Valero webpage



News Posted: 07/03/2017      [Back to the Top]

The Daily Telegraph

Call for statistics to measure quality of economic growth

National figures on economic growth fail to take into account of regional variations and ignore quality of life, such as the gap in life expectancy between Surrey and the north east of England, the Inclusive Growth Commission warned.

Local productivity, local incomes, the distribution of earnings, pay changes for the lowest paid and levels of regional economic inactivity could all form part of this new inclusive growth metric, said the ICG which is chaired by Stephanie Flanders, JP Morgan’s chief market strategist. The Commission also includes former Rolls-Royce chief executive Sir John Rose and London School of Economics professor Henry Overman.


Related Links:
The Daily Telegraph - Call for statistics to measure quality of economic growth

CEP Urban and Spatial Programme CEP Trade

Henry Overman webpage



News Posted: 07/03/2017      [Back to the Top]

CVER Press Release

Transforming Technical Education in England: Analysis of promised budget proposals

Trails for the Chancellor’s budget speech on Wednesday promise big new plans for technical education in England. Professor Sandra McNally of the Centre for Vocational Education Research (CVER) at the London School of Economics, who is available for comment on the proposals, summarises the evidence and her view of what reforms are needed.

http://cep.lse.ac.uk/textonly/_new2014/news/releases/2017_03_06.pdf


Related Links:
CVER Press Release - Transforming Technical Education in England: Analysis of promised budget proposals

CEP CVER



News Posted: 06/03/2017      [Back to the Top]

LSE Business Review

The roles of nature and history in world development

A study on how the relative importance of a place’s suitability for agriculture and trade has changed over time, by Vernon Henderson, Tim Squires, Adam Storeygard and David Weil

Related publications

This article summarises ‘The Global Spatial Distribution of Economic Activity: Nature, History and the Role of Trade’ by Vernon Henderson, Tim Squires, Adam Storeygard and David Weil, SERC/Urban and Spatial Programme Discussion Paper No. 198, May 2016

http://www.spatialeconomics.ac.uk/textonly/SERC/publications/download/sercdp0198.pdf

 


Related Links:
LSE Business Review - The roles of nature and history in world development

The roles of nature and history in world development

CEP Urban and Spatial Programme

Vernon Henderson webpage



News Posted: 06/03/2017      [Back to the Top]

SurreyBaby

‘Outstanding' nurseries may not be the best, says new research

Attending a nursery with an outstanding Ofsted rating has ‘limited benefits’ for children’s education, says new research from the University of Surrey. The report, published last month, showed that a child’s educational achievement at the end of their reception year is only very slightly higher if they had been taught by a qualified teacher or attended an outstanding nursery. The study, conducted by researchers at the Centre for Economic Performance (CEP), looked at the information of 1.6 million children born between September 2003 and August 2006.


Related Links:
SurreyBaby - ‘Outstanding' nurseries may not be the best, says new research

Quality in Early Years Settings and Children’s School Achievement

CEP Education and Skills

Jo Blanden webpage

Sandra Mcnally webpage



News Posted: 06/03/2017      [Back to the Top]

Yahoo! News

Phonics were being taught 350 years ago, one of world's oldest children's book reveals

Research has shown that phonics can boost children’s reading age by an average of 28 months by the time they turn seven. Boys benefit the most from the back-to-basics system and actually overtake girls after just two years of school, according to a study by Dr Marlynne Grant, an educational psychologist, who analysed the performance of pupils taught to read using synthetic phonics from the reception year upwards. The school had high levels of special educational needs. However, a study by London School of Economics last year found that while phonics help children from disadvantaged backgrounds and those who do not have English as their first language, it has had "no measurable effect on pupils’ reading scores at age 11".

 

Related links

Martina Viarengo webpage:  http://personal.lse.ac.uk/viarengo/


Related Links:
Yahoo! News - Phonics were being taught 350 years ago, one of world's oldest children's book reveals

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

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: 06/03/2017      [Back to the Top]

The Wall Street Journal

Three ways to value gold. Three conclusions

Then three economics and finance professors—Scott Baker of Northwestern University, Nick Bloom of Stanford University and Steven Davis of the University of Chicago—created a series of Economic Policy Uncertainty, or EPU, indexes. And sure enough, according to Prof. Harvey, gold shows a modest historical correlation with the global version of the EPU.

 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

http://bit.ly/2n6M3oa


Related Links:
The Wall Street Journal - Three ways to value gold. Three conclusions

Measuring Economic Policy Uncertainty

CEP Growth

Nick Bloom webpage



News Posted: 05/03/2017      [Back to the Top]

The Telegraph

How a rise in Britons being their own boss risks a borrowing crisis

Getting the balance right

A recent report by the LSE Growth Commission also warned that a world where everyone is their own boss could lead to less training, with consequences for UK living standards. 

"In the longer term, the gig economy may erode employers' incentives to invest in their workers' skills," it said.

"It is unlikely that short-term workers will receive extensive on-the-job training, and thus in the long run this may have an impact on the make-up of the skill set of the UK workforce."

Related publications

'UK Growth: A New Chapter', LSE Growth Commission Report, February 2017.


Related Links:
The Telegraph - How a rise in Britons being their own boss risks a borrowing crisis

CEP Growth CEP Trade

Philippe Aghion webpage

Tim Besley webpage

Stephen Machin webpage

Isabelle Roland webpage

Anna Valero webpage



News Posted: 05/03/2017      [Back to the Top]

Sunday Mirror

Health is our wealth

If I asked what makes you happy what would you say? I think many of us would answer money. But according to a study by researchers at the London School of Economics, much of the world’s unhappiness stems from failed relationships.

[No link available.]

Related articles

Vox – 12 December 2016

Origins of happiness: Evidence and policy implications

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


Related Links:
CEP Wellbeing

Andrew Clark webpage

Sarah Flèche webpage

Richard Layard webpage

Nattavudh Powdthavee webpage

George Ward webpage



News Posted: 05/03/2017      [Back to the Top]

La Jornada Aguascalientes (Spain)

El reto de la desigualdad / Opciones y decisiones/ The challenge of inequality / choices and decisions

The UN in this regard, ruled: "the year 2015 is a milestone for mankind by the adoption, in September, of sustainable development goals (SDGS), to help guide the world community towards a more inclusive and sustainable global development. It is very likely that the concepts of happiness and well-being will help to guide progress towards sustainable development"(John Helliwell, Richard Layard, and Jeffrey Sachs. Happiness 2015 World report. Overview).

Related publications

The ‘World Happiness Report 2015’, John Helliwell, Richard Layard and Jeffrey Sachs (Eds.), April 2015

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


Related Links:
La Jornada Aguascalientes (Spain) - El reto de la desigualdad / Opciones y decisiones/ The challenge of inequality / choices and decisions

CEP Wellbeing

Richard Layard webpage



News Posted: 04/03/2017      [Back to the Top]

CEP Engagement/In politics

CEP and its research had a broad reach in Parliament during the month of February.

During the passage of the European Union (Notification of Withdrawal) Bill in the Lords, research on the benefits from immigration at the Centre for Economic Performance (CEP) was mentioned.

Also, LSE research was picked up during debates on building more homes (Professor Cheshire)

pre-school education: teachers (Dr Jo Blanden, Professor Sandra McNally).

LSE has been particularly involved in the debate on Brexit through its submissions of written evidence in Parliament and academics appearing before select committees. LSE has responded to the Impact of Brexit on Higher Education and the Immigration inquiries.

Swati Dhingra and Professor Niamh Moloney gave their insights on UK Trade Options Beyond 2019

Professor Alan Manning and Philippe Legrain informed the Lords on Brexit and the Labour Market.

Related links

Community Programme webpage:  http://cep.lse.ac.uk/_new/research/Community/default.asp

 

 


Related Links:
CEP Urban and Spatial Programme CEP Education and Skills CEP Trade

Paul Cheshire webpage

Jo Blanden webpage

Sandra Mcnally webpage

Swati Dhingra webpage

Alan Manning webpage



News Posted: 04/03/2017      [Back to the Top]

Buitenland.eenvandaag.nl (Dutch TV)

Wat betekent de Brexit voor de handel met Engeland?/ What does Brexit mean to trade with England?

England, one of our main trading partners is to get out of the EU. The British Prime Minister Theresa May this month officially advised the European Union of the British departure. Dutch entrepreneurs who do a lot of trade with England wait with bated breath the negotiations that will follow. And the question is whether, in particular, the EU wants to be the best deal out there.

What the consequences will be of Brexit for the Dutch and the English economy depends on the deal concluded between the European Union and the United Kingdom says Nikhil Datta, researcher at the London School of Economics. According to him, the damage can be limited if there actually is as little change as possible.


Related Links:
CEP Trade

Nikhil Datta webpage



News Posted: 04/03/2017      [Back to the Top]

Yibada (English Chinese News, USA)

China's high-speed rail technology game: the significant role of transfer deals

Yatang Lin, a researcher from the Centre for Economic Performance of the London School of Economics, enthused that "there were ambitions to get everything done pretty quickly. Of course, there were political motives there. Therefore, the fastest and safest way was to use foreign technology."


Related Links:
Yibada (English Chinese News, USA) - China's high-speed rail technology game: the significant role of transfer deals

High-speed rail in China

High-speed rail in China

High-speed rail in China

CEP Urban and Spatial Programme

Yatang Lin webpage



News Posted: 04/03/2017      [Back to the Top]

FE Week

Government silent on adult skills behavioural research centre funding

The government is refusing to say whether more funding will be given to two “pioneering” FE research centres after their start-up grants end shortly.

Meanwhile, the Centre for Vocational Education Research is beginning to publish its own projects after being given a £3 million government grant in May 2015. Dr Sandra McNally leads the centre, and said that in the two years it has been running, her team has focused on “huge administrative data”, such as individual learner records, the national pupil database and longitudinal education outcomes data, in an attempt to process, code and apply it to their research.


Related Links:
FE Week - Government silent on adult skills behavioural research centre funding

CEP CVER CEP Education and Skills

Sandra Mcnally webpage



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

Entorno inteligente

MÉXICO: ?El dinero no da felicidad, sobre todo si es poco??/ Mexico:? The money does not give happiness, especially if it's bit?

Almost eight out of 10 people think that the money spoiled people. This is supported by one of the gurus of happiness research, Richard Layard. In his book Happiness.

Related publications

Happiness: Lessons from a New Science 2nd Edition, Richard Layard, Penguin, 7 April 2011

https://www.penguin.co.uk/books/54928/happiness/


Related Links:
Entorno inteligente - MÉXICO: ?El dinero no da felicidad, sobre todo si es poco??/ Mexico:? The money does not give happiness, especially if it's bit?

CEP Wellbeing

Richard Layard webpage



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

Europe 1

Should we ban cell phones in school?

A brake to the concentration. Still, according to a study of 2015 to the United Kingdom by the London School of Economics, the use of the current mobile phone impair concentration. The study, which looked at the school results of 130,000 students 91 institutions of the country, shows that students enrolled in schools that have banned mobile phone have better results than those enrolled in institutions where the smartphone is not banned. And the students the less comfortable at the school who in would suffer the most, explain the researchers.

Related Publications

In brief ... Phone home: should mobiles be banned in schools?, Louis-Philippe Beland and Richard Murphy, CentrePiece Volume 20, Issue 1, Summer 2015 'Ill Communication: Technology, Distraction and Student Performance', Louis-Philippe Beland and Richard Murphy.


Related Links:
Europe 1 - Should we ban cell phones in school?

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

CEP Education and Skills

Richard Murphy webpage



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

Repubblica.it

Irrinunciabile smartphone. ''Ma i divieti non servono''/Essential smartphone. ''But the bans are not needed''

Research by the London School of Economics in 2015 calculated that at maturity, in schools where the mobile phone is banned, the boys get ratings of 6.4% higher.

Related Publications

In brief ... Phone home: should mobiles be banned in schools?, Louis-Philippe Beland and Richard Murphy, CentrePiece Volume 20, Issue 1, Summer 2015 'Ill Communication: Technology, Distraction and Student Performance', Louis-Philippe Beland and Richard Murphy.


Related Links:
Repubblica.it - Irrinunciabile smartphone. ''Ma i divieti non servono''/Essential smartphone. ''But the bans are not needed''

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

CEP Education and Skills

Richard Murphy webpage



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

Charleston Gazette-Mail (USA)

Steve White: Pipeline projects will create plenty of good jobs

The recent U.S. energy revolution, courtesy of high-tech advancements in hydraulic fracturing, has made U.S. manufacturing more competitive globally, lowering costs for energy-intensive industries while increasing output, employment and exports.Those aren’t my conclusions. They come from the London School of Economics and Political Science. “For every two jobs created in direct relation to fracking, this indirect effect adds more than one additional job elsewhere in the economy,” the report says. In fact, manufacturing exports have increased about 10 percent, on average, since the energy boom began


Related Links:
Charleston Gazette-Mail (USA) - Steve White: Pipeline projects will create plenty of good jobs

Fracking: the boost to US manufacturing

Fracking: the boost to US manufacturing

CEP Trade

Frank Pisch webpage



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

i Newspaper

Why does nobody want to host the Olympics anymore?

The Olympics shouldn’t be sold as bringing any wider benefits at all – but, instead as a very expensive party. Hosting the Olympic Games in 2012 cost about £150 per UK tax payer – but it did make Londoners happier. Londoners were happier during the summer of 2012 than those of 2011 and 2013, a study by the Centre for Economic Performance found. But in times of austerity, the happiness argument is a hard sell. That is especially true when the benefits are concentrated in the glitziest city – normally the capital. In the 2012 Olympics, citizens in poorer parts of the country effectively subsidised the happiness of Londoners.


Related Links:
i Newspaper - Why does nobody want to host the Olympics anymore?

The Host with the Most? The Effects of the Olympic Games on Happiness

CEP Wellbeing

Paul Dolan webpage

Georgios Kavetsos webpage



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

LSE Business Review

LSE Growth Commission: invest more in people, not only buildings and machines

The LSE Growth Commission sets out a new blueprint for inclusive and sustainable growth that deals with the challenges facing the UK, old and new. Based on the latest research, analysis and evidence from leading practitioners and scholars, the Commission – drawn from leading business, policy-making and academic figures – outlines the top priorities in four key areas: jobs and skills; industrial strategy; openness and finance and growth.

Related publications

'UK Growth: A New Chapter', LSE Growth Commission Report, February 2017.


Related Links:
LSE Business Review - LSE Growth Commission: invest more in people, not only buildings and machines

CEP Growth CEP Trade

Philippe Aghion webpage

Tim Besley webpage

Stephen Machin webpage

Isabelle Roland webpage

Anna Valero webpage



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

Bloomberg View

Specter of No Brexit Deal Haunts U.K. Automakers

Swati Dhingra, an economics lecturer at the London School of Economics, estimated in a study prior to last year's referendum that Brexit could reduce total U.K. car production by as much as 12 percent.

Related article

8 June 2016

The UK in a Changing Europe – King’s College London

Brexit and foreign investment: cars and cash

Article by Swati Dhingra

One of the key issues in the referendum campaign has been the extent to which a Brexit would affect the UK’s economy. While much of this discussion has focused on trade, the role of investments in the UK from other EU countries is also important. The UK is a major recipient of investment, with only the United States and China receiving more foreign direct investment (FDI) than the UK. And of this investment in the UK (which has an estimated stock value of over £1 trillion) about half has come from other EU countries.

http://ukandeu.ac.uk/brexit-and-foreign-investment-cars-and-cash/


Related Links:
Bloomberg View - Specter of No Brexit Deal Haunts U.K. Automakers

Brexit: the impact on UK trade and living standards

The consequences of Brexit for UK trade and living standards

CEP Trade

Swati Dhingra webpage



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

Carrier Management

Are fears of a Brexit exodus overblown

“Each business lobby is motivated — the worse you can make it sound at this point, the more likely your sector will get special treatment,” said Thomas Sampson, assistant professor of economics at the London School of Economics. “I don’t know how analytically rigorous a lot of the numbers are. You want to take a lot of these numbers with a grain of salt.”

Related links

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


Related Links:
Carrier Management - Are fears of a Brexit exodus overblown

CEP Trade

Thomas Sampson webpage



News Posted: 02/03/2017      [Back to the Top]

Independent

Hard Brexit will ‘open Pandora's box' for UK businesses says CBI president

Economists from the London School of Economics have estimated that the WTO route would cause an almost 10 per cent hit to UK GDP by 2030.

Also in:

The i Paper

Failure to secure trade deal 'would open Pandora's Box'

(no link available)


Related Links:
Independent - Hard Brexit will ‘open Pandora's box' for UK businesses says CBI president

The consequences of Brexit for UK trade and living standards

CEP Trade CEP Growth

Swati Dhingra webpage

Hanwei Huang webpage

Gianmarco Ottaviano webpage

Thomas Sampson webpage

John Van reenen webpage



News Posted: 02/03/2017      [Back to the Top]

Le Huffington Post (France)

Macron veut durcir la loi qui encadre l'usage du portable à l'école, mais qu'en est-il aujourd'hui?/ Macron wants to tighten the law that oversees the use of the laptop to school, but what about today?

According to a study published in the journal of the London School of Economics in may 2015, the ban on mobiles in schools would be beneficial for the academic performance of students. Researchers have shown that in schools that forbid it, results improved by 6.4 percent compared to other schools. In the United Kingdom, more and more schools ban their speakers mobile: they were 50% in 2012 and 98% in 2012 to prohibit them or collect them earlier today, according to the Guardian.

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


Related Links:
Le Huffington Post (France) - Macron veut durcir la loi qui encadre l'usage du portable à l'école, mais qu'en est-il aujourd'hui?/ Macron wants to tighten the law that oversees the use of the laptop to school, but what about today?

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

CEP Education and Skills

Richard Murphy webpage



News Posted: 02/03/2017      [Back to the Top]

LSE Staff News

New report from LSE Growth Commission

Last Friday, the LSE Growth Commission released a new report setting out a blueprint for inclusive and sustainable growth in the UK, which deals with both old and new challenges.

Related publications

'UK Growth: A New Chapter', LSE Growth Commission Report, February 2017.


Related Links:
LSE Staff News - New report from LSE Growth Commission

CEP Growth CEP Trade

Philippe Aghion webpage

Tim Besley webpage

Stephen Machin webpage

Isabelle Roland webpage

Anna Valero webpage



News Posted: 02/03/2017      [Back to the Top]

Bloomberg News online

The Brexit Bank Exodus Could Be More Like a Trickle

“Each business lobby is motivated -- the worse you can make it sound at this point, the more likely your sector will get special treatment,” said Thomas Sampson, assistant professor of economics at the London School of Economics. “I don’t know how analytically rigorous a lot of the numbers are. You want to take a lot of these numbers with a grain of salt.”


Related Links:
Bloomberg News online - The Brexit Bank Exodus Could Be More Like a Trickle

CEP Trade

Thomas Sampson webpage



News Posted: 01/03/2017      [Back to the Top]

Railway Technology

The importance of China's high-speed tech transfer policy

China is the world leader in the deployment of high-speed rail infrastructure but how much of this is because of the extensive technology transfer deals that were struck with foreign companies during the early days?

“There were ambitions to get everything done pretty quickly,” says Yatang Lin, a researcher from the London School of Economics’ Centre for Economic Performance. “Of course, there were political motives there. Therefore, the fastest and safest way was to use foreign technology.”


Related Links:
Railway Technology - The importance of China's high-speed tech transfer policy

High-speed rail in China

International Technology Transfer and Domestic Innovation: Evidence from the High-Speed Rail Sector in China

CEP Trade

Yatang Lin webpage



News Posted: 01/03/2017      [Back to the Top]

The Daily Telegraph

Britain is damning itself to a low wage, low productivity economy

As the London School of Economics’ “Growth Commission” noted in a recent update on the UK economy, growing self-employment is eroding the incentives for companies to invest in training and skills. I don’t want to demonise the so-called “gig economy”, which for many of those who work in it is a positive and liberating choice. It has also greatly contributed to Britain’s superior employment performance

Related publications

'UK Growth: A New Chapter', LSE Growth Commission Report, February 2017.


Related Links:
The Daily Telegraph - Britain is damning itself to a low wage, low productivity economy

CEP Growth CEP Trade

Philippe Aghion webpage

Tim Besley webpage

Stephen Machin webpage

Isabelle Roland webpage

Anna Valero webpage



News Posted: 01/03/2017      [Back to the Top]

LSE academic mentioned in Parliament

Building more homes

During the debate on 'Building more homes' in the Economic Affairs Committee, Lord Layard mentioned LSE:

"Professor Cheshire at the London School of Economics has suggested a levy on the final value of a completed development, combining that with the change in presumption that I referred to earlier. There are many areas in which these ideas can be explored. The committee took no view on these issues but it made a clear recommendation that the Government should examine these proposals."

 

Related links

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

Richard Layard webpage:  http://cep.lse.ac.uk/_new/staff/person.asp?id=970

 


Related Links:
LSE academic mentioned in Parliament - Building more homes

CEP Urban and Spatial Programme CEP Wellbeing

Paul Cheshire webpage

Richard Layard webpage



News Posted: 28/02/2017      [Back to the Top]

Paisley Daily Express

Banking on a good day


Related Links:
Paisley Daily Express - Banking on a good day





News Posted: 28/02/2017      [Back to the Top]

Newsweek online

Study: Mental Illness Causes More Misery Than Anything Else

“We keep on finding in every country that the mental health problems are the biggest causes of misery,” says Richard Layard of the London School of Economics, who along with colleague Sarah Flèche analyzed happiness and satisfaction surveys from around the world. In a paper published in January in the journal Kyklos, Flèche and Layard found that the correlation between mental illness and misery was strong even when poverty and unemployment were controlled for.

Related publications

‘Do more of those in misery suffer from poverty, unemployment or mental illness?’, Sarah Fléche and Richard Layard, Kyklos (International Review for Social Sciences), 70(1), February 2017

http://onlinelibrary.wiley.com/doi/10.1111/kykl.12129/epdf


Related Links:
Newsweek online - Study: Mental Illness Causes More Misery Than Anything Else

CEP Wellbeing

Sarah Flèche webpage

Richard Layard webpage



News Posted: 28/02/2017      [Back to the Top]

O2 (Poland)

So many minutes of sleep loses his mother when she wakes up her baby

The study is based on data about the life of 14 thousand. the British families. Was collected from the birth of a child in the family up to the 25 years of his life. Applications have developed Joan Costa-and-Font and Sarah Flèche from the Centre for Economic Performance at the London School of Economics and Political Science.


Related Links:
O2 (Poland) - So many minutes of sleep loses his mother when she wakes up her baby

Parental Sleep and Employment: Evidence from a British Cohort Study

CEP Wellbeing

Sarah Flèche webpage



News Posted: 28/02/2017      [Back to the Top]

Indiana University Bloomington

IU College of Arts and Sciences announces 2017 alumni and faculty honorees

The recipient of this year’s Outstanding Young Alumni Award is Rebecca Homkes (B.A./B.S. ’05) of London. Homkes is a teaching fellow/adjunct professor in the London Business School, the director of the London-based Ashridge Strategic Management Centre, co-founder of Next Wave Innovation, and the founder and director of 21st Century Strategy, a boutique consultancy firm.

Rebecca Homkes is the director of 21st Century Strategy, a boutique consultancy firm, where she works with CEOs and executive teams of top global companies and fast-growing enterprises on developing and executing strategies for growth, especially when facing extreme uncertainty. Homkes is also a teaching fellow at the London Business School’s Department of Strategy and Entrepreneurship.

A fellow at the London School of Economics’ Centre for Economic Performance and a director at the Ashridge Strategic Management Centre, Homkes is also a co-founder of corporate innovation consultancy Next Wave Innovation and a board member and mentor at GrowthX and the Silicon Valley Growth Syndicate. A 2005 graduate of IU, Homkes earned her Bachelor of Arts degree in political science and her Bachelor of Science degree in business administration with majors in finance, accounting and international studies. A Marshall Scholar, Homkes earned her Ph.D. and M.Sc. in international economy from the London School of Economics and was an Indiana University Herman B Wells Scholar in 2005.

Related links

CEP Alumni - Rebecca Homkes : http://cep.lse.ac.uk/_new/staff/alumni.asp

Rebecca Homkes CEP publications webpage:  http://cep.lse.ac.uk/_new/publications/author.asp?author=homkes


Related Links:
Indiana University Bloomington - IU College of Arts and Sciences announces 2017 alumni and faculty honorees

CEP Growth



News Posted: 28/02/2017      [Back to the Top]

The Washington Post

Is the WTO one of Trump's ‘big quagmire deals'? here's what's at stake

Recent research by Paola Conconi, Maurizio Zanardi and their co-authors finds U.S. presidential elections tend to influence the timing of WTO dispute filings, especially those with economic interests in key electoral (“swing”) states. But if domestic politics drove the filing of those cases and winning them would mainly help a political opponent, incoming presidents may choose to drop them entirely and focus on their own priorities.

Related article

‘Suspiciously timed trade disputes: How politics influencese WTO enforcement’, Paola Conconi, David DeRemer, Georg Kirchsteiger, Lorenzo Trimarchi and Maurizio Zanardi, Vox Article, 16 June 2015

http://voxeu.org/article/politics-influences-wto-enforcement


Related Links:
The Washington Post - Is the WTO one of Trump's ‘big quagmire deals'? here's what's at stake

CEP Trade

Paola Conconi webpage



News Posted: 28/02/2017      [Back to the Top]

BBC 2

Newsnight [23:39]

Snippet: ...Although maybe they won't thank me for saying that. Tracey Brown is the Director of Sense and Science - Because Evidence Matters, Nassim Nicholas Taleb is the author of Black Swan and Swati Dhingra is an Economist at LSE. Nice to have all of... (from 28m10s).


Related Links:
BBC 2 - Newsnight [23:39]

CEP Trade

Swati Dhingra webpage



News Posted: 27/02/2017      [Back to the Top]

The Irish Times

Theresa May's Nasty Party dons UKIP's Brexit clothes at a heavy price

Immigration has now been extensively studied: there is lots of excellent data that reveals robust conclusions over many different pieces of research. According to, for example, the London School of Economics Centre for Economic Performance, EU immigrants are more likely to be in work and less likely to claim benefits than their UK-born counterparts.


Related Links:
The Irish Times - Theresa May's Nasty Party dons UKIP's Brexit clothes at a heavy price

Brexit and the Impact of Immigration on the UK

CEP Trade CEP Labour Markets CEP Growth

Jonathan Wadsworth webpage

Swati Dhingra webpage

Gianmarco Ottaviano webpage

John Van reenen webpage



News Posted: 27/02/2017      [Back to the Top]

The Sunday Times

Our nation of shoppers needs a new growth model

…"more coherent and comprehensive than anything the government has yet come up with" Article on the LSE Growth Commission Report.

Related publications

'UK Growth: A New Chapter', LSE Growth Commission Report, February 2017.


Related Links:
The Sunday Times - Our nation of shoppers needs a new growth model

CEP Growth CEP Trade

Philippe Aghion webpage

Tim Besley webpage

Stephen Machin webpage

Isabelle Roland webpage

Anna Valero webpage



News Posted: 26/02/2017      [Back to the Top]

The Observer

Health: Child-induced fatigue costs economy dear, says study

In the first study of its kind, Joan Costa-i-Font and Sarah Flèche, of the Centre for Economic Performance at the London School of Economics and Political Science, have found that baby-induced fatigue is significantly undermining economic performance. Their work is to be presented at the Royal Economic Society’s annual conference in April.


Related Links:
The Observer - Health: Child-induced fatigue costs economy dear, says study

Parental Sleep and Employment: Evidence from a British Cohort Study

CEP Wellbeing

Sarah Flèche webpage



News Posted: 25/02/2017      [Back to the Top]

BBC Radio 4

Snippet: ... Martin Knapp

Martin Knapp is director of health and social care at the London school of economics and an economist specialising in health and social care.


Related Links:
BBC Radio 4 - Snippet: ... Martin Knapp

CEP Wellbeing

Martin Knapp webpage



News Posted: 24/02/2017      [Back to the Top]

BBC III – video

What would the UK look like without immigrants?

On #OneDayWithoutUs people are encouraged to show how much immigrants contribute to the country.

So how much of a difference do immigrants make to the UK economy?

At1:12 mins CEP (LSE) research flashes up.

Related links

Jonathan Wadsworth webpage:  http://cep.lse.ac.uk/_new/staff/person.asp?id=787

Swati Dhingra webpage:  http://cep.lse.ac.uk/_new/staff/person.asp?id=7558

Gianmarco Ottaviano webpage:  http://cep.lse.ac.uk/_new/staff/person.asp?id=7598

John Van Reenen webpage:  http://cep.lse.ac.uk/_new/staff/person.asp?id=1358

CEP Growth Programme webpage:  http://cep.lse.ac.uk/_new/research/growth/default.asp

CEP Trade Programme webpage:  http://cep.lse.ac.uk/_new/research/trade/default.asp


Related Links:
BBC III – video - What would the UK look like without immigrants?

Brexit and the Impact of Immigration on the UK

CEP Labour Markets CEP Growth CEP Trade

Philippe Aghion webpage

Tim Besley webpage

Stephen Machin webpage

Isabelle Roland webpage

Anna Valero webpage



News Posted: 24/02/2017      [Back to the Top]

Bloomberg

Brexit Bulletin: Team May hits back

Brexit is expected to spell the end of passporting, where firms seamlessly service the rest of the single market from their London hubs. That could herald a loss of more than 25 percent of the U.K.’s total financial services trade, a London School of Economics study said on Thursday. 

Related publications

'UK Growth: A New Chapter', LSE Growth Commission Report, February 2017.


Related Links:
Bloomberg - Brexit Bulletin: Team May hits back

CEP Growth CEP Trade

Stephen Machin webpage

Anna Valero webpage

Philippe Aghion webpage

Tim Besley webpage

Isabelle Roland webpage



News Posted: 24/02/2017      [Back to the Top]

The Times

Britain ‘needs more skilled migrants' to help drive growth

Britain needs to attract more skilled migrants than ever, improve skills and education, strike trade deals with the European Union and America and secure a new EU passport for financial services.

ESRC's insight:

The ESRC-funded study by the London School of Economics Growth Commission set out a range of options to improve the UK’s productivity record and boost prosperity. Also recommended in the 92-page report was enhancing the government’s fledgling industrial strategy and increasing competition in finance.


Related Links:
The Times - Britain ‘needs more skilled migrants' to help drive growth





News Posted: 24/02/2017      [Back to the Top]

Bloomberg News

UK banks' loss of EU passport a ‘major threat', LSE study says

The U.K. government must ensure British financial-services companies don’t lose their ease of access to the European Union after Brexit as a “matter of urgency,” according to a report backed by high-profile British economists including former Bank of England Deputy Governor Charlie Bean. The study, compiled by the London School of Economics with input from business leaders, ex-policy makers and academics, says the U.K. needs to retain near-equivalent European Union passporting rights and warned that alternatives are “costly and time-consuming.”  It sets out a list of recommendations for Prime Minister Theresa May’s administration to bolster growth, including prioritizing free-trade deals with the U.S. and EU. It also encourages the government to boost skills, develop an industrial strategy, and increase competition in finance.

https://www.bloomberg.com/news/articles/2017-02-23/u-k-banks-loss-of-eu-passport-a-major-threat-lse-study-says

 

Related publications

'UK Growth: A New Chapter', LSE Growth Commission Report, February 2017.


Related Links:
Bloomberg News - UK banks' loss of EU passport a ‘major threat', LSE study says

CEP Growth CEP Trade

Philippe Aghion webpage

Tim Besley webpage

Stephen Machin webpage

Isabelle Roland webpage

Anna Valero webpage



News Posted: 23/02/2017      [Back to the Top]

Channel 4

FactCheckQandA: Why isn't immigration falling more quickly?

Why has net migration continued to rise and successive government’s failed to hit their targets?

According to the Centre for Economic Performance (CEP), the majority of those who come from the EU, do so for work related reasons, whilst the majority of those who come from non-EU countries do so for study-related reasons. Both positively contribute to the UK economy with the CEP suggesting both groups have had no negative effect on jobs or wages. This is one of the main reasons the government has found it difficult to reduce immigration.

Related publications

'UK Growth: A New Chapter', LSE Growth Commission Report, February 2017.

Related Links:

 

Jonathan Wadsworth webpage:  http://cep.lse.ac.uk/_new/staff/person.asp?id=787

Swati Dhingra webpage:  http://cep.lse.ac.uk/_new/staff/person.asp?id=7558

Gianmarco Ottaviano webpage:  http://cep.lse.ac.uk/_new/staff/person.asp?id=7598

John Van Reenen webpage:  http://cep.lse.ac.uk/_new/staff/person.asp?id=1358

 

 


Related Links:
Channel 4 - FactCheckQandA: Why isn't immigration falling more quickly?

Brexit and the Impact of Immigration on the UK

CEP Growth CEP Trade CEP Labour Markets

Philippe Aghion webpage

Tim Besley webpage

Stephen Machin webpage

Isabelle Roland webpage

Anna Valero webpage



News Posted: 23/02/2017      [Back to the Top]

Public Finance

LSE growth commission sets out economic reform proposals

Britain’s tax laws are biased in favour of the self-employed and should be reformed to enable greater investment in people instead of buildings and machines, the LSE Growth Commission has said. This was one of the findings of a report released by the commission today on how the UK can achieve inclusive and sustainable growth after Brexit. In the study, authors identify four key priority areas: jobs and skills, industrial strategy, economic openness, and finance and growth. The commission consists of senior figures from business, politics and academia and was formed in 2013 to provide authoritative and evidence-based policy recommendations. UK Growth: A New Chapter was based on the input of senior policymakers, business people and academics, including two former chancellors, George Osborne and Alastair Darling.

Related publications

'UK Growth: A New Chapter', LSE Growth Commission Report, February 2017.


Related Links:
Public Finance - LSE growth commission sets out economic reform proposals

CEP Growth CEP Trade

Philippe Aghion webpage

Tim Besley webpage

Stephen Machin webpage

Isabelle Roland webpage

Anna Valero webpage



News Posted: 23/02/2017      [Back to the Top]

Bloomberg News online

Brexit Bulletin: What Can By-Elections Tell Us About Brexit?

Snippet: ... Due today: latest migration figures from the ONS, and a report on the economy from the LSE Growth Commission.


Related Links:
Bloomberg News online - Brexit Bulletin: What Can By-Elections Tell Us About Brexit?

CEP Growth CEP Trade

Anna Valero webpage

Richard Davies webpage

Isabelle Roland webpage

Stephen Machin webpage

Philippe Aghion webpage

Tim Besley webpage



News Posted: 23/02/2017      [Back to the Top]

CEP Journal Articles

Gender Inequality and Economic Development: Fertility, Education and Norms'

Henrik Kleven and Camille Landais, Economica, 14 March 2017

DOI:  10.1111/ecca.12230


Related Links:
CEP Journal Articles - Gender Inequality and Economic Development: Fertility, Education and Norms'

CEP Labour Markets

Henrik Kleven webpage



News Posted: 22/02/2017      [Back to the Top]

Parliamentary Business – www.parliament.uk

LSE research mentioned in Parliamentary Question on graduate nursery teachers

The question was tabled on 22 February by Lord Blencathra (Con):

"What is their response to the conclusions of a recent report by LSE and Surrey University that graduate nursery teachers for three- to five-year-olds make a small impact on children's attainment compared to non=graduates; and whether they have any plans to review their policy regarding requirements for nursery staff to be graduates."


Related Links:
Quality in Early Years Settings and Children’s School Achievement

CEP Education and Skills

Jo Blanden webpage

Sandra Mcnally webpage



News Posted: 22/02/2017      [Back to the Top]

Australian Economic Review

Observations on Uncertainty (pages 79–84)

© The University of Melbourne, Melbourne Institute of Applied Economic and Social Research

Volume 50, Issue 1 Pages 1 - 132, March 2017

Observations on Uncertainty (pages 79–84)

Nicholas Bloom

Version of Record online: 28 FEB 2017 | DOI: 10.1111/1467-8462.12203

Related links

Nick Bloom CEP publications webpage:  http://cep.lse.ac.uk/_new/publications/author.asp?author=bloom


Related Links:
Australian Economic Review - Observations on Uncertainty (pages 79–84)

CEP Growth

Nick Bloom webpage



News Posted: 21/02/2017      [Back to the Top]

House of Lords Hansard – www.parliament.uk

LSE research mentioned in Lords debate on the Article 50 Bill

During Lords debate on the Article 50 Bill, Lord McKenzie of Luton (Lab) mentioned LSE/CEP research:

 

"One of the most profound choices that the Government are seeking to make is to eschew membership of the single market and the customs union. They are prepared to sacrifice these at the altar of reducing immigration, notwithstanding research, most recently from the Centre for Economic Performance at the LSE, again showing the benefits to national income, taxes and the budget ​deficit from immigration, and notwithstanding a report from the think tank Global Future that suggests that the Government’s approach could mean a fall in current net levels of immigration of no more than 15%, and that might be reduced further by the terms of new free trade agreements, which typically come with a demand for liberalisation on free movement."

 

Related publications

'UK Growth: A New Chapter', LSE Growth Commission Report, February 2017.

Related links

Jonathan Wadsworth webpage:  http://cep.lse.ac.uk/_new/staff/person.asp?id=787

Swati Dhingra webpage:  http://cep.lse.ac.uk/_new/staff/person.asp?id=7558

Gianmarco Ottaviano webpage:  http://cep.lse.ac.uk/_new/staff/person.asp?id=7598

John Van Reenen webpage:  http://cep.lse.ac.uk/_new/staff/person.asp?id=1358


Related Links:
Brexit and the Impact of Immigration on the UK

CEP Growth CEP Trade CEP Labour Markets

Philippe Aghion webpage

Tim Besley webpage

Stephen Machin webpage

Isabelle Roland webpage

Anna Valero webpage



News Posted: 21/02/2017      [Back to the Top]

El Financiero

El Dinero no da felicidan, sobre todo si es poco

Almost eight out of 10 people think that money spoils people. This is supported by one of the gurus of the research of happiness, Richard Layard.

Related publications

Happiness:  Lessons from a New Science, Richard Layard, Penguin, 2005.  2nd edition: 2011; ISBN 0713997699

https://www.penguin.co.uk/books/54928/happiness/9780241952795/


Related Links:
El Financiero - El Dinero no da felicidan, sobre todo si es poco

CEP Wellbeing

Richard Layard webpage



News Posted: 21/02/2017      [Back to the Top]

Dien dan (Vietnam)

The index of real economic policy of China in record level 672.82 points

Index of uncertainty in the economic policy of China and Hong Kong (China-Hong Kong Economic Policy Uncertainty Index-CHEPUI) are at record levels 672.82 points after soaring up fivefold higher than the average rate in 22 years.  This index tracks the frequency of mention of economic uncertainties related to the policy of South China Morning Post (SCMP), the most prestigious English newspaper of Hong Kong. It is part of the tracking system developed by Scott Baker in Northwestern University, Nick Bloom of Stanford University and Steven Davis from the University of Chicago.

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

http://bit.ly/2m481r4

 


Related Links:
Dien dan (Vietnam) - The index of real economic policy of China in record level 672.82 points

Measuring Economic Policy Uncertainty

CEP Growth

Nick Bloom webpage



News Posted: 20/02/2017      [Back to the Top]

Bloomberg

China economic policy has never been more uncertain. Sort of.

Economic policy is always challenging to decipher in China, where Communist Party leaders steer one of the world's most opaque central banks. Indeed, one measure of uncertainty has never been higher amid complications from Hong Kong's politics to Donald Trump's protectionism. The China-Hong Kong Economic Policy Uncertainty Index stands at a record 672.82 after soaring to more than five times its average in data stretching back 22 years. The gauge tracks mentions of policy-related economic uncertainty in Hong Kong's main English-language newspaper, the South China Morning Post. It's part of a suite of trackers developed by Northwestern University’s Scott Baker, Stanford University’s Nick Bloom and Steven Davis from the University of Chicago.

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 http://bit.ly/2m481r4


Related Links:
Bloomberg - China economic policy has never been more uncertain. Sort of.

Measuring Economic Policy Uncertainty

CEP Growth

Nick Bloom webpage



News Posted: 20/02/2017      [Back to the Top]

Gulf News

6 in 10 say ban children from social networks

A majority six of ten Gulf News poll respondents think children should be banned from using social media sites altogether. Their opinion is in line with the findings of a study by the Centre for Economic Performance at the London School of Economics, in the UK. Researchers found that banning mobile phones from school premises caused test scores of students to improve by 6.4 per cent — the equivalent of adding five days to the school year.


Related Links:
Gulf News - 6 in 10 say ban children from social networks

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: 20/02/2017      [Back to the Top]

Get Surrey

Attending ‘outstanding' nursery has limited benefit for children, university research reveals

University of Surrey's economics senior lecturer, Dr Jo Blanden, said: "Successive governments have focused on improving staff qualifications, based on the belief these are important for children's learning. "Our research finding that having a graduate working in the nursery has only a tiny effect on children's outcomes surprised us. "It is possible it is driven by the types of qualifications held by those working in private nurseries, they are not generally equivalent to the qualifications of teachers in nursery classes in schools."  The study was conducted by researchers at the Centre of Economic Performance (CEP) at the London School of Economics, University of Surrey and University College London.

 


Related Links:
Get Surrey - Attending ‘outstanding' nursery has limited benefit for children, university research reveals

Quality in Early Years Settings and Children’s School Achievement

CEP Education and Skills

Jo Blanden webpage

Sandra Mcnally webpage



News Posted: 19/02/2017      [Back to the Top]

Turkish World Television

TRT [around minute 9:30]

The show was on www.trtworld.com/live at these times on Friday 17 February  (GMT): 1630/ 2030/ 0130/ 0730/ 1230

Insight: Seasonal affective disorder and the business of happiness – Part I

https://www.youtube.com/watch?v=rSoOvT_zdxk

Insight: Seasonal affective disorder and the business of happiness – Part II

Seasonal Affective Disorder, or SAD, affects people around the world. So-called SAD lights have been developed to help combat the condition. And how effective are books that train you to be happy? The World Wellbeing Panel got mentioned in both and advertised in the second of these interview clips.

https://www.youtube.com/watch?v=bZWERkTvilc


Related Links:
CEP Wellbeing

Paul Frijters webpage



News Posted: 17/02/2017      [Back to the Top]

CEP and the media

Looking to raise your profile?

The BBC is looking for female experts in a whole range of areas who would like to appear on air as presenters or contributors. This is a wonderful opportunity for early career or established female academics who are interested in raising their profile and gaining some experience in the broadcast media.

Click here for more details.


Related Links:
CEP and the media - Looking to raise your profile?





News Posted: 17/02/2017      [Back to the Top]

CEP Impact

CEP article on Top Downloaded of the Economic Journal

Congratulations to Richard Layard, Andrew E. Clark, Francesca Cornaglia, Nattavudh Powdthavee and James Vernoit, who authored What Predicts a Successful Life? A Life-course Model of Well-being. The article, which features in volume 124 of the Economic Journal (EJ), has recently been listed on the Top Downloaded page of the EJ website. Since its publication in 2014, the article has received 11,796 downloads, and in 2016 it was the most downloaded article in the journal for that year.

Related publications

‘What Predicts a Successful Life? A Life-course Model of Well-being’, Richard Layard, Andrew E. Clark, Francesca Cornaglia, Nattavudh Powdthavee and James Vernoit, The Economic Journal, Vol 124, Feature Issue, November 2014

http://onlinelibrary.wiley.com/doi/10.1111/ecoj.12170/epdf


Related Links:
CEP Wellbeing

Richard Layard webpage

Andrew Clark webpage

Nattavudh Powdthavee webpage



News Posted: 17/02/2017      [Back to the Top]

BBC Radio Shropshire

Research from LSE says graduate nursery staff have little effect on children's attainment.

…and there's a good piece on the BBC news website if you have a look at it so the couple of days so it is very current and it says gradual nursery staff have little effect on children OK having a graduate teacher industry only has a limited impact on children's attainment this is new research from the Centre of Economic Performance at the London school of economics.


Related Links:
BBC Radio Shropshire - Research from LSE says graduate nursery staff have little effect on children's attainment.

Quality in Early Years Settings and Children’s School Achievement

CEP Education and Skills

Jo Blanden webpage

Sandra Mcnally webpage



News Posted: 17/02/2017      [Back to the Top]

Quartz

Economists quantified what sleep deprivation does to mothers' pay and productivity

When Joan Costa-Font became a father, the health economist noticed a dramatic drop in his productivity. “And I am the man,” he said, acknowledging that the effect was clearly worse on his wife.

He and Sarah Flèche, a labor economist, decided to quantify the productivity drop. The novel way they chose to do it was to look at how children disrupt mothers’ sleep, and how that disruption in turn affects mothers’ labor force productivity, including hours worked and income earned.


Related Links:
Quartz - Economists quantified what sleep deprivation does to mothers' pay and productivity

Parental Sleep and Employment: Evidence from a British Cohort Study

CEP Wellbeing

Sarah Flèche webpage



News Posted: 17/02/2017      [Back to the Top]

Day Nurseries

Charity disputes research which claims qualified nursery teachers have ‘tiny effect' on children's learning

Save the Children has disputed research which found nurseries with a qualified nursery teacher have only a “tiny effect” on children’s attainment.

Earlier this week, researchers from the Centre for Economic Performance at the London School of Economics, the University of Surrey and University College London, found that children who attended a nursery that employed a graduate had an Early Years Foundation Stage Profile (EYFSP) score that was only around a third of a point higher than those whose nurseries did not employ a graduate. The total number of points available is 117. Lead author Dr Jo Blanden, senior lecturer in Economics at Surrey University, said: “Our research finding that having a member of staff qualified to graduate level working in the nursery has only a tiny effect on children's outcomes surprised us, given existing research that finds well-qualified staff have higher quality interactions with children.” However, Save the Children has claimed that children without an early years teacher are almost 10 per cent less likely to meet the expected levels of development when they start school compared to children who do have a teacher. This comes from its ‘Untapped Potential’ report last November.


Related Links:
Day Nurseries - Charity disputes research which claims qualified nursery teachers have ‘tiny effect' on children's learning

Quality in Early Years Settings and Children’s School Achievement

CEP Education and Skills

Jo Blanden webpage

Sandra Mcnally webpage



News Posted: 17/02/2017      [Back to the Top]

Sun FM

Worrying start in a life of education for Wearside children

"… there are many early years providers that do not employ graduate staff but nevertheless offer high-quality care and education." "As research published by the London School of Economics this week found, quality in the early years is about more than staff academics, and so it's important that we don't apply overly-simplistic solutions to complex problems."


Related Links:
Sun FM - Worrying start in a life of education for Wearside children





News Posted: 17/02/2017      [Back to the Top]

Le Monde.fr

Affaire, famille et politique: les liaisons dangereuses

The issue of jobs of members of the family of the elect is more complex. How do I know if a person got a job, or a higher wage, because of his family ties with an elected official? This is the problem that have tried to solve Stefano Gagliarducci and Marco Manacorda ("Politics in the family: anti-nepotism and the hiring decisions of Italian firms", no. 9841, January 2017, link to PDF IZA working paper). They combined an extensive database covering 500,000 men and women politicians on nearly thirty years, and a random sample of one million employees in the private sector.


Related Links:
Le Monde.fr - Affaire, famille et politique: les liaisons dangereuses

Politics in the Family: Nepotism and the Hiring Decisions of Italian Firms

CEP Labour Markets

Marco Manacorda webpage



News Posted: 16/02/2017      [Back to the Top]

Miami Herald online

World leaders, researchers, economists slated to speak at World Happiness Summit

Miami will be the site of the first global gathering of governmental leaders, economists, academics and researchers for the World Happiness Summit next month, the summit announced.

The H20 is one of four tracks being organized by the inaugural World Happiness Summit. Confirmed participants for the governmental track include former President of Mexico, Vicente Fox; spiritual leader and peace negotiator Sri Sri Ravi Shankar; World Happiness Report co-author Sir Richard Layard, founder of the Wellbeing Center at the London School of Economics; Bhutan’s Gross National Happiness Center Director Dr. Saamdu Chetri; Harvard happiness researcher and author Tal Ben-Shahar; Smart Dubai’s Director General Dr. Aisha Bin Bishr; and dignitaries from more than 40 countries.


Related Links:
Miami Herald online - World leaders, researchers, economists slated to speak at World Happiness Summit

CEP Wellbeing

Richard Layard webpage



News Posted: 16/02/2017      [Back to the Top]

Bloomberg

Monopolies are worse than we thought

A recent paper by David Autor, David Dorn, Lawrence Katz, Christina Patterson and John Van Reenen speculates that tech might have enabled the rise of a few “superstar” companies in each industry. The fact that leaders in more concentrated industries also tend to have higher productivity supports this hypothesis. Technology might have simply changed the nature of markets so that the winners take most of the profits.

 


Related Links:
Bloomberg - Monopolies are worse than we thought

CEP Growth

John Van reenen webpage



News Posted: 15/02/2017      [Back to the Top]

Manchester Evening News

What do Ofsted know about three-year-olds? Parents at this ‘inadequate' nursery say it's nonsense

A university study says that inspectors are failing to spot the best and worst nursery schools by using 'traditional methods'

Parents have defended a pre-school rated ‘inadequate’ by Ofsted as a report shows the watchdog’s inspections don’t always reveal the best nurseries. The report published this week shows that sending children to an ‘outstanding’ nursery makes barely any difference to how well they develop in their early years. Researchers at the London School of Economics, University of Sussex and University College London, discovered that traditional measures used to evaluate nursery schools by inspectors failed to spot the best or worst schools.


Related Links:
Manchester Evening News - What do Ofsted know about three-year-olds? Parents at this ‘inadequate' nursery say it's nonsense

Quality in Early Years Settings and Children’s School Achievement

CEP Education and Skills

Jo Blanden webpage

Sandra Mcnally webpage



News Posted: 15/02/2017      [Back to the Top]

NaturalNews.com

Dutch families are raising the world's happiest kids, according to new study

Childhood has a tremendous influence on a person’s entire life. A study from the London School of Economics exploring what makes people happy found that a person’s emotional health as a child was the strongest determinant of their mental well-being as they got older, which is why parents need to take a proactive role in their children’s life and ensure their physical and emotional needs are being met.

Related articles

Vox – 12 December 2016

Origins of happiness: Evidence and policy implications

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


Related Links:
NaturalNews.com - Dutch families are raising the world's happiest kids, according to new study

CEP Wellbeing

Andrew Clark webpage

Sarah Flèche webpage

Richard Layard webpage

Nattavudh Powdthavee webpage

George Ward webpage



News Posted: 15/02/2017      [Back to the Top]

Huffington Post Deutschland

US-Top-and#336;konom erwartet unter Trump ''wirtschaftliche Blüte ungekannten Ausmaßes''/US top economist expected to trump ''economic boom of unprecedented proportions

Von anderen Star-Ökonomen waren eher pessimistische Stimmen zur Wirtschaftsentwicklung unter Trump zu hören. So sagt Stanford-Ökonom Nicholas Bloom, ...

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

http://bit.ly/2m481r4


Related Links:
Huffington Post Deutschland - US-Top-and#336;konom erwartet unter Trump ''wirtschaftliche Blüte ungekannten Ausmaßes''/US top economist expected to trump ''economic boom of unprecedented proportions

Measuring Economic Policy Uncertainty

CEP Growth

Nick Bloom webpage



News Posted: 14/02/2017      [Back to the Top]

Day Nurseries

'Outstanding' nurseries have 'tiny effect' on children's attainment

The report titled 'Nursery Quality: New evidence of the impact on children’s outcomes', found that staff qualifications and Ofsted ratings cannot predict the quality of early years education, arguing that conventional methods of testing quality do not have a significant influence on educational outcomes. Co-author Dr Jo Blanden, senior lecturer in Economics at the University of Surrey, said: "Successive governments have focused on improving staff qualifications, based on the belief that these are important for children’s learning.


Related Links:
Day Nurseries - 'Outstanding' nurseries have 'tiny effect' on children's attainment

Quality in Early Years Settings and Children’s School Achievement

CEP Education and Skills

Jo Blanden webpage

Sandra Mcnally webpage



News Posted: 14/02/2017      [Back to the Top]

Al Jazeera TV

CEP on TV/Radio

Dennis Novy gave a live TV interview to Al Jazeera. The topic was the confirmation of Steven Mnuchin as the new U.S. Treasury Secretary. The interview covered the proposed U.S. tax reforms and how changes to financial regulation might affect the U.S. dollar and international trade. 


Related Links:
Al Jazeera TV - CEP on TV/Radio

CEP Trade

Dennis Novy webpage



News Posted: 14/02/2017      [Back to the Top]

IZA Newsroom

Does modern technology slow down employment growth after recessions?

This phenomenon of labor market polarization (or “hollowing out” of middle-skilled jobs) has attracted widespread attention and contributed to the ongoing debate on the impact of technological change on labor markets. While much of the focus has been on the United States, Georg Graetz (Uppsala University and IZA) and Guy Michaels (London School of Economics and IZA) investigate in their recent IZA Discussion Paper whether labor markets in other countries have also been slow to pick up after recessions, and if modern technology could be to blame.


Related Links:
IZA Newsroom - Does modern technology slow down employment growth after recessions?

Is Modern Technology Responsible for Jobless Recoveries?

CEP Labour Markets

Georg Graetz webpage

Guy Michaels webpage



News Posted: 14/02/2017      [Back to the Top]

Phys.Org

New evidence of the impact of quality nurseries on children's outcomes

A report published today reveals that a child's educational achievement at the end of their reception year is only very slightly higher if he or she has been taught in nursery by a qualified teacher or early years professional. Attending a nursery rated as 'outstanding' by Ofsted, the regulator of educational quality in England, also has limited benefits. The study, conducted by researchers at the Centre for Economic Performance (CEP) at the London School of Economics, the University of Surrey and University College London, matches data on children's outcomes at the end of reception with information on nurseries attended in the year before starting school for 1.6 million children born between September 2003 and August 2006.

 


Related Links:
Phys.Org - New evidence of the impact of quality nurseries on children's outcomes

Quality in Early Years Settings and Children’s School Achievement

CEP Education and Skills

Jo Blanden webpage

Sandra Mcnally webpage



News Posted: 14/02/2017      [Back to the Top]

BBC News - Education

Graduate nursery staff have 'little effect' on children

Having a graduate teacher in a nursery has only a limited impact on children's attainment, new research suggests.

In England the government wants more graduate staff in nurseries in a bid to boost children's literacy and numeracy. But a study published by the London School of Economics (LSE) claims highly qualified staff had only a "tiny" effect on attainment. One early years group said the the report challenged "many of the assumptions" around current policy. The researchers, from the Centre for Economic Performance at LSE, Surrey University and University College London, looked at figures, drawn from the National Pupil Database, on about 1.8 million five-year-olds who started school in England between 2008 and 2011.


Related Links:
BBC News - Education - Graduate nursery staff have 'little effect' on children

Quality in Early Years Settings and Children’s School Achievement

CEP Education and Skills

Jo Blanden webpage

Sandra Mcnally webpage



News Posted: 14/02/2017      [Back to the Top]

The Daily Telegraph (Print edition)

Pulling rank Top nurseries fail to raise prospects

Sending children to a nursery school rated “outstanding” by Ofsted makes barely any difference to how well they develop, researchers at the London School of Economics, University of Surrey and University College London discovered.

[Link unavailable.]


Related Links:
Quality in Early Years Settings and Children’s School Achievement

CEP Education and Skills

Jo Blanden webpage

Sandra Mcnally webpage



News Posted: 14/02/2017      [Back to the Top]

BT.com

Nursery staff qualifications have little effect on pupils' achievement – study

Researchers from the Centre for Economic Performance at the London School of Economics, Surrey University and University College London, compared data on children's results with information on nurseries attended in the year before starting school for around 1.8 million youngsters born in England between September 2003 and August 2006. The findings showed that children who attended a nursery that employed a graduate have a teacher assessment score around a third of a point higher, where the total number of points available was 117.


Related Links:
BT.com - Nursery staff qualifications have little effect on pupils' achievement – study

Quality in Early Years Settings and Children’s School Achievement

CEP Education and Skills

Jo Blanden webpage

Sandra Mcnally webpage



News Posted: 13/02/2017      [Back to the Top]

Nursery World

Graduate settings have little impact on children's outcomes

New research finds that attending an outstanding nursery, or one with graduate staff, has a limited benefit to children's educational attainment.

The study of 1.8 million children born between September 2003 and August 2006, reveals that a child’s educational achievement at the end of their reception year is only ‘slightly’ higher if he or she has been taught in nursery by a qualified teacher or Early Years Professional (EYP).

It also found that attending a nursery rated outstanding by Ofsted had limited benefits.


Related Links:
Nursery World - Graduate settings have little impact on children's outcomes

Quality in Early Years Settings and Children’s School Achievement

CEP Education and Skills

Jo Blanden webpage

Sandra Mcnally webpage



News Posted: 13/02/2017      [Back to the Top]

TES

Qualified nursery teachers make little difference to attainment, study finds

Children with graduate nursery teachers achieve only slightly more by the end of Reception than children with unqualified teachers

Children who have access to a qualified teacher at nursery school do only slightly better at age 5 than those who do not, research suggests.

A new study concludes that a child’s educational achievement at the end of their Reception year is only very slightly higher if they have been taught in a nursery with a teacher trained to graduate level.

There was also little difference between those attending a nursery rated "outstanding" by Ofsted and others.

Researchers from the Centre for Economic Performance at the London School of Economics, the University of Surrey and University College London, compared data on children's results with information about the nurseries they attended in the year before starting school for around 1.8 million people born in England between September 2003 and August 2006.


Related Links:
TES - Qualified nursery teachers make little difference to attainment, study finds

Quality in Early Years Settings and Children’s School Achievement

CEP Education and Skills

Jo Blanden webpage

Sandra Mcnally webpage



News Posted: 13/02/2017      [Back to the Top]

Blasting News

Brexit could swiftly become a steep exit

The economic cost of Britain's exit from Europe could be quadruple original estimates according to MIT Economist, Professor John Van Reenen.

Given all of the political flailing of arms and rhetorical sniping that has been going on, this has prevented many from seeing the bigger economic picture in terms of Brexit. The anticipated costs of Brexit seem to be increasing as more is known about Britain's plans and intentions on that score - four times the original estimate.

#professor john van Reenen made these assertions from research he had been taking out over the last few years in a separate report.


Related Links:
Blasting News - Brexit could swiftly become a steep exit

BREXIT 2016: Policy Analysis from the Centre for Economic Performance

CEP Growth

John Van reenen webpage



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

Independent

Brexit four times worse for UK economy than previously believed, say MIT economists

New research claims leaving the EU will have bigger impact on UK productivity than had been thought

Britain’s departure from the European Union could cause output losses of as much as 9.5 per cent, according to new research. Calculations using models that incorporate productivity measures show a negative impact on gross domestic product per capita of almost four times that of previous estimates, according to John Van Reenen, a professor of applied economics at the MIT Sloan School of Management who supported the campaign for the UK to remain in the EU.


Related Links:
Independent - Brexit four times worse for UK economy than previously believed, say MIT economists

Brexit: the final assessment

CEP Growth

John Van reenen webpage



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

Rochdale Observer

Is it time for a dedicated tax to fund the NHS?

A dedicated tax is the only way that we can be sure the government is reflecting public wishes, argues Richard Layard, emeritus professor at the London School of Economics. He points out that Britain currently spends less on health as a share of gross domestic product (GDP) than other countries at the same income level - and that nearly half of Britons say they are willing to pay for a better service and almost none want it cut. “If, as in Germany, there were a dedicated source of funding for the healthcare sector, it would be much easier for public demand to be translated into action,” he writes.


Related Links:
Rochdale Observer - Is it time for a dedicated tax to fund the NHS?

CEP Wellbeing

Richard Layard webpage



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

The Sun

Taxing Times: Brits should pay a dedicated NHS tax to fund the ailing health service, expert says

Britain currently spends less on health as a share of national income than other equivalent countries, according to economist Professor Richard Layard

BRITS should pay a dedicated tax to fund the ailing NHS, a leading expert says.  Professor Richard Layard, an economist at the London School of Economics, claims it is the only way to ensure the government reflects public wishes.


Related Links:
The Sun - Taxing Times: Brits should pay a dedicated NHS tax to fund the ailing health service, expert says

CEP Wellbeing

Richard Layard webpage



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

CNBC

Brexit will leave Britons more than $4,000 poorer, says MIT professor

Britons' incomes could be slashed by as much as 9.5 percent once the U.K. formally leaves the European Union, a new study released today by MIT economics professor John Van Reenen has claimed.

The report points to a 6.3 to 9.5 percent reduction in GDP per capita with the U.K. outside of the EU's single market on the basis that a one percent decline in trade reduces income per capita by between 0.5 and 0.75 percent.


Related Links:
CNBC - Brexit will leave Britons more than $4,000 poorer, says MIT professor

BREXIT 2016: Policy Analysis from the Centre for Economic Performance

CEP Growth

John Van reenen webpage



News Posted: 08/02/2017      [Back to the Top]

Finansgundem.com (Turkey)

Brexit, national income per capita in the UK to drop

Brexit, national income per capita in the UK to drop

On June 23, a referendum MIT faculty member, Professor John Van Reenen advocated keeping Britain in the EU.


Related Links:
Finansgundem.com (Turkey) - Brexit, national income per capita in the UK to drop

BREXIT 2016: Policy Analysis from the Centre for Economic Performance

CEP Growth

John Van reenen webpage



News Posted: 08/02/2017      [Back to the Top]

LSE Business Review blog

Work improves general happiness, but are you happy while you work?

By checking on people at random times of the day via an app, Alex Bryson and George MacKerron uncover the misery of work.

Related links

Alex Bryson, CEP Alumni, Labour Markets Programme.


Related Links:
LSE Business Review blog - Work improves general happiness, but are you happy while you work?

Are you happy while you work?

Are You Happy While You Work?

CEP Labour Markets



News Posted: 08/02/2017      [Back to the Top]

theBMJ

Head to Head: Is it time for a dedicated tax to fund the NHS?

A dedicated tax is the only way that we can be sure the government is reflecting public wishes, says Richard Layard, but John Appleby argues it would not protect funding from economic uncertainty

Yes—Richard Layard

Taxpayers finance the National Health Service. But how much are they willing to pay for it? No one has any idea. The service is financed from general taxation and there is thus no real way in which the public can express its wish for a better (or worse) funded service. If instead there were a specific funding stream dedicated to health, there could be a real public debate about how much people were willing to pay. And this debate would be particularly intense at the time of general elections, ensuring that our healthcare system in some way reflected the wishes of the population.


Related Links:
theBMJ - Head to Head: Is it time for a dedicated tax to fund the NHS?

CEP Wellbeing

Richard Layard webpage



News Posted: 08/02/2017      [Back to the Top]

Newsin English.no (Norway)

Immigration tests the welfare state

Professor Alan Manning of the London School of Economics, told newspaper Aftenposten in January that the Migration Advisory Committee he ...

Related Links:
Newsin English.no (Norway) - Immigration tests the welfare state

CEP Community CEP Labour Markets

Alan Manning webpage



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

CNBC

Trump's trade war may have already begun

"The idea of trade wars these days, what politicians have in mind is really a 19th-century or early 20th-century conception of trade," said Gianmarco I.P. Ottaviano, a trade economist at the London School of Economics. "You don't even know who you're going to hurt with these kind of things. You're probably going to destroy American jobs in the end."


Related Links:
CNBC - Trump's trade war may have already begun

CEP Trade

Gianmarco Ottaviano webpage



News Posted: 31/01/2017      [Back to the Top]

Vox

On the spatial distribution of development: the roles of nature and history

Economists point to three factors to explain how population is distributed: geographical characteristics, agglomeration, and history. This column, taken from a new Vox eBook, examines how economic and technological development have changed the ways in which two first-nature characteristics – suitability for growing food and suitability for engaging in trade – impact population distribution. 

This column first appeared as a chapter in the Vox eBook, The Long Economic and Political Shadow of History, Volume 1, available to download here.


Related Links:
Vox - On the spatial distribution of development: the roles of nature and history

CEP Urban and Spatial Programme

Vernon Henderson webpage



News Posted: 31/01/2017      [Back to the Top]

BBC Radio 4

The Today Programme

Dr Hilary Steedman discusses IFS report criticising huge investment into apprenticeships.

0725
Is the way in which the Government will fund new apprenticeships a monumental waste of money? Dr Hilary Steedman is a senior research fellow at LSE specialising in apprenticeships.

 


Related Links:
BBC Radio 4 - The Today Programme

CEP Education and Skills CEP CVER

Hilary Steedman webpage



News Posted: 31/01/2017      [Back to the Top]

The New York Times

Trump's trade war may have already begun

“The idea of trade wars these days, what politicians have in mind is really a 19th-century or early 20th-century conception of trade,” said Gianmarco I.P. Ottaviano, a trade economist at the London School of Economics. “You don’t even know who you’re going to hurt with these kind of things. You’re probably going to destroy American jobs in the end.”


Related Links:
The New York Times - Trump's trade war may have already begun

CEP Trade

Gianmarco Ottaviano webpage



News Posted: 31/01/2017      [Back to the Top]

Star Tribune Online

World awaits next move amid threat of trade war

Most experts have assumed the responsibilities of governance would temper Trump's trade posture. Given that nearly one-third of all U.S. trade is conducted with China and Mexico, a rupture risks severe economic damage. "The idea of trade wars these days, what politicians have in mind is really a 19th-century or early 20th-century conception of trade," said Gianmarco I.P. Ottaviano, a trade economist at the London School of Economics. "You don't even know who you're going to hurt with these kind of things. You're probably going to destroy American jobs in the end."


Related Links:
Star Tribune Online - World awaits next move amid threat of trade war

CEP Trade

Gianmarco Ottaviano webpage



News Posted: 31/01/2017      [Back to the Top]

Personnel Today

Apprenticeship levy and targets risk being poor value for money

Dr Hilary Steedman, senior research fellow at The London School of Economics, speaking on the BBC’s Today programme, said: “I think the IFS has really overstated their case here. We have a really serious skills problem in this country and we need to raise skills through apprenticeships in order to promote economic growth and improve our productivity levels, which are dire compared to Europe.”


Related Links:
Personnel Today - Apprenticeship levy and targets risk being poor value for money

CEP Education and Skills CEP CVER

Hilary Steedman webpage



News Posted: 31/01/2017      [Back to the Top]

Delo (Slovenia)

Trump(izem) - return to the future

Nicholas Bloom (Stanford University) explores the political uncertainty in the world, and from 1900 on, he found out that after his election Trump increased uncertainty by at least twice and is comparable to that during the great economic crisis, the end of the twenties of the last century.


Related Links:
Delo (Slovenia) - Trump(izem) - return to the future

Measuring Economic Policy Uncertainty

Economic Recovery and Policy Uncertainty

The Impact of Uncertainty Shocks: Firm Level Estimation and a 9/11 Simulation

CEP Growth

Nick Bloom webpage



News Posted: 31/01/2017      [Back to the Top]

Cash (Germany)

Verunsicherte medien, zuversichtliche unternehmen – wer behalt recht?

A study of three researchers Scott R. Baker, Nicholas Bloom and Steven j. Davis has revealed that the current economic uncertainty is still higher than during times of 9 / 11 or the Lehman collapse. The experts at Swiss life asset managers analyze the situation.

Have, the Brexit and the US insecure you elections? Then, you're not alone. Researchers Scott R. Baker, Nicholas Bloom and Steven j. Davis attempting to measure the economic insecurity and to depict in an index. It is collected for 12 countries, captured how often words with reference to uncertainty and instability in the media. Currently, index is higher than to times of crisis like 9/11, the Lehman collapse, or Europe's debt crisis the "economic policy uncertainty".


Related Links:
Cash (Germany) - Verunsicherte medien, zuversichtliche unternehmen – wer behalt recht?

Measuring Economic Policy Uncertainty

Economic Recovery and Policy Uncertainty

The Impact of Uncertainty Shocks: Firm Level Estimation and a 9/11 Simulation

CEP Growth

Nick Bloom webpage



News Posted: 31/01/2017      [Back to the Top]

LSE Business Review

Workers are happier with less hierarchy

The World Wellbeing Panel agrees that every effort should be made to reduce middle management, write Nick Powdthavee and Paul Frijters.

Workers’ satisfaction with their job is, on average, higher in a flatter organisation than in a hierarchical organisation. That is the consensus finding of a survey of leading researchers on wellbeing from around the world on the impact of different organisational structures on workers’ wellbeing.

The World Wellbeing Panel on wellbeing and organisational structures is available here. The experts, their affiliations and their responses to the survey are here.


Related Links:
LSE Business Review - Workers are happier with less hierarchy

CEP Wellbeing

Paul Frijters webpage

Nattavudh Powdthavee webpage



News Posted: 30/01/2017      [Back to the Top]

NZZ.at (Germany)

Ignorant and irresponsible

Not surprisingly, when an index for global political uncertainty, compiled records so unsafe level, inter alia by the Stanford economist Nicholas Bloom, on a high, (Stanford). And Austria's foreign trade must prepare for uncertain times (the press).


Related Links:
NZZ.at (Germany) - Ignorant and irresponsible

Measuring Economic Policy Uncertainty

Economic Recovery and Policy Uncertainty

CEP Growth

Nick Bloom webpage



News Posted: 27/01/2017      [Back to the Top]

Bloomberg Quint

Blame monopolies for short-changing U.S. workers

There are several worrying trends in the global economy, such as rising inequality within countries and slowing productivity growth. But perhaps the most troubling of them is the fall in labor’s share of national income. … Two new papers suggest that the rise might be due to an increase in market concentration. If industries are slowly inching toward monopoly, a few superstar companies in each sector could be squeezing profits out of the rest of the economy. The first of these new papers is by a large, star-studded team from the U.S. and Europe -- David Autor, David Dorn, Lawrence Katz, Christina Patterson and John Van Reenen. Titled “Concentrating on the Fall of the Labor Share,” it is short, clear and relies on relatively simple theories and general observations.

 

Related publications

Autor D, Dorn D, Katz LF, Patterson C, Reenen JV. Concentrating on the Fall of the Labor Share. American Economic Review Papers and Proceedings. Forthcoming;107 (5).

 


Related Links:
Bloomberg Quint - Blame monopolies for short-changing U.S. workers

CEP Growth

John Van reenen webpage



News Posted: 27/01/2017      [Back to the Top]

LSE Business Review blog

Does a firm hiring an experienced manager improve its performance?

Exporters to Angola that hired managers with specific types of experience were more likely to succeed, write Giordano Mion, Luca David Opromolla and Alessandro Sforza.

The enormous variation in firm performance has become a focus of empirical and theoretical interest throughout the social sciences, including economics. ... We believe the next question to be addressed in this literature is what happens when managers move from one firm to another. Does a firm hiring a good manager improve its performance? How much? If yes, is it due to the manager intrinsic capabilities or is it due to the knowledge and abilities the manager has learned in previous firms? What happens to the firm when the “good” manager leaves?


Related Links:
LSE Business Review blog - Does a firm hiring an experienced manager improve its performance?

The Diffusion of Knowledge via Managers' Mobility

CEP Trade

Giordano Mion webpage

Alessandro Sforza webpage



News Posted: 26/01/2017      [Back to the Top]

YLE (Finland)

Taloudellinen epävarmuus kalvaa brexit-Britanniaa

Britain's economy made a decision after the brexit-lock braking. One-third of the companies that froze investment plans as a result of a decision. The collapse of the value of the pound sterling told the concern in the market. Light in the darkness is brought to the car manufacturer Nissan's fall made an extensive investment decision. The British Government has committed itself to the EU get rid of presented 7 000 jobs in the creative vitality after spending as evidence of Brexit in. However, the decision by the secretive Government boosted Nissanille. Researcher Swati Dhingra to keep secret the agreement concern.


Related Links:
YLE (Finland) - Taloudellinen epävarmuus kalvaa brexit-Britanniaa

CEP Trade

Swati Dhingra webpage



News Posted: 26/01/2017      [Back to the Top]

Bloomberg Businessweek

Trump's uncertainty principle

The cloud of uncertainty Trump has kicked up may be a big deal for the economy, or not. … For one thing, uncertainty isn’t necessarily bad. It simply means the distribution of possible outcomes—both upward and downward—has widened. Investors in the stock market seem to be betting on the upside of the distribution, judging from the 6.5 percent rise in the S&P 500 since the election. It’s also possible that what looks like economic uncertainty is really just scary reports in the news media. Stanford economist Nicholas Bloom, an originator of the Economic Policy Uncertainty Index, joked (I think) in an e-mail, “It may simply be the news has no connection to reality—as you know from Trump, you guys are the biggest liars.”


Related Links:
Bloomberg Businessweek - Trump's uncertainty principle

Measuring Economic Policy Uncertainty

Economic Recovery and Policy Uncertainty

CEP Growth

Nick Bloom webpage



News Posted: 26/01/2017      [Back to the Top]

Challenges.fr (France)

2016: ''in success formidable pour l'industrie automobile britannique''

Thomas Sampson, Professor at the London School of Economics, warns that in addition to tariffs, British producers may suffer the impact of foreign barriers. "They would have to reorganize all of their supply chain, which could disrupt significantly the automotive industry" in the country, he warns.


Related Links:
Challenges.fr (France) - 2016: ''in success formidable pour l'industrie automobile britannique''

CEP Trade

Thomas Sampson webpage



News Posted: 26/01/2017      [Back to the Top]

ABS/CBN News

Could Brexit put the brakes on Britain's car industry?

Thomas Sampson, a professor at the London School of Economics, said British carmakers could suffer further disruption beyond tariffs. "Inside the customs union cross-border supply networks can flourish, but if trade in car parts faces tariffs, rules-of-origin restrictions and other border barriers, then producers will need to reorganize their supply chain, potentially causing substantial disruption to trade in the car industry," he told AFP.


Related Links:
ABS/CBN News - Could Brexit put the brakes on Britain's car industry?

CEP Trade

Thomas Sampson webpage



News Posted: 26/01/2017      [Back to the Top]

Le Point.fr

En renouveau, l'industrie automobile britannique a la croisee des Chemins du Brexit

Thomas Sampson, Professor at the London School of Economics, warns that in addition to tariffs, British producers may suffer the impact of foreign barriers. "They would have to reorganize all of their supply chain, which could disrupt significantly the automotive industry" in the country, he warns.


Related Links:
Le Point.fr - En renouveau, l'industrie automobile britannique a la croisee des Chemins du Brexit

CEP Trade

Thomas Sampson webpage



News Posted: 26/01/2017      [Back to the Top]

France 24

Could Brexit put the brakes on Britain's car industry?

Last week Prime Minister Theresa May confirmed Brexit would see Britain leave the European single market, creating a stumbling block for the car industry which relies on trading vehicles and loose parts without paying duties. Thomas Sampson, a professor at the London School of Economics, said British carmakers could suffer further disruption beyond tariffs.


Related Links:
France 24 - Could Brexit put the brakes on Britain's car industry?

CEP Trade

Thomas Sampson webpage



News Posted: 26/01/2017      [Back to the Top]

New Statesman

How the government's industrial strategy could steal your job

Britain’s manufacturing heritage is told through faded photos of workers on assembly lines, or operating basic tools. But that was the 1970s, and in the 21st century, a factory has a lot more robots. Using robots raises productivity by 0.37 per cent, according to a recent LSE/Uppsala study, and we are still in the early stages of development. Surely any 21st century, productive, British entrepreneur worth his or her salt would embrace automation?


Related Links:
New Statesman - How the government's industrial strategy could steal your job

Robots at work: the impact on productivity and jobs

Robots at Work

CEP Labour Markets

Georg Graetz webpage

Guy Michaels webpage



News Posted: 26/01/2017      [Back to the Top]

Business World

Could 'Brexit' put the brakes on Britain's car industry?

Thomas Sampson, a professor at the London School of Economics, said British car makers could suffer further disruption beyond tariffs. “Inside the customs union cross-border supply networks can flourish, but if trade in car parts faces tariffs, rules-of-origin restrictions and other border barriers, then producers will need to reorganize their supply chain, potentially causing substantial disruption to trade in the car industry,” he told AFP.


Related Links:
Business World - Could 'Brexit' put the brakes on Britain's car industry?

CEP Trade

Thomas Sampson webpage



News Posted: 26/01/2017      [Back to the Top]

Deutsche Welle TV (DW-TV) online

Theresa May 'needs free trade deal' with Donald Trump to prove that Brexit works

DW spoke to economist Thomas Sampson from the London School of Economics ahead of British Prime Minister Theresa May's visit to the White House. She is the first world leader to meet the new US President Donald Trump.

DW spoke to economist Thomas Sampson from the Centre for Economic Performance at the London School of Economics, an expert in international trade relations.

DW: Thomas Sampson, can Theresa May expect to reach any substantial agreement?

Thomas Sampson: She's hoping for an agreement to start talking. Until the UK actually leaves the EU, it can't make trade deals with other countries anyway. There are limits on what can be agreed. What May wants is to come back and say to the British people: We don't have a deal yet, but Trump is open to talk about a free trade agreement once we've left the EU. That's her goal.


Related Links:
Deutsche Welle TV (DW-TV) online - Theresa May 'needs free trade deal' with Donald Trump to prove that Brexit works

CEP Trade



News Posted: 26/01/2017      [Back to the Top]

Carnetericpeyre.blog (France)

Carnetsecret: Bonne synthèse d'Ariane Chemin sur le revenu universel où l'on constate qu'il ne s'agit pas d'une question économique mais bien de société

A multitude of studies weaken the prophecy of universal income advocates: that of researchers Georg Graetz and Guy Michaels (2015) , who found, by analyzing seventeen countries over fifteen years, the robot had a close win Half point of growth per year without affecting employment.


Related Links:
Carnetericpeyre.blog (France) - Carnetsecret: Bonne synthèse d'Ariane Chemin sur le revenu universel où l'on constate qu'il ne s'agit pas d'une question économique mais bien de société

Robots at work: the impact on productivity and jobs

Robots at Work

CEP Labour Markets

Georg Graetz webpage

Guy Michaels webpage



News Posted: 26/01/2017      [Back to the Top]

New Statesman

If you want to fix Britain's economy, there's one word you need to remember

And it isn't "infrastructure"

Improving our management skills is part of this. John van Reenen at the London School of Economics has written about how the quality of management in different countries can explain as much as a third of their differences in productivity.


Related Links:
New Statesman - If you want to fix Britain's economy, there's one word you need to remember

CEP Growth

John Van reenen webpage



News Posted: 25/01/2017      [Back to the Top]

Wall Street Journal Americas (Spanish)

Hechos alternativos para Trump y el Mercado de acciones

"It genuinely feels that the political uncertainty is very high," said Nicholas Bloom, Professor of Stanford and co-developer of the index of uncertainty.


Related Links:
Wall Street Journal Americas (Spanish) - Hechos alternativos para Trump y el Mercado de acciones

Measuring Economic Policy Uncertainty

Economic Recovery and Policy Uncertainty

CEP Growth

Nick Bloom webpage



News Posted: 24/01/2017      [Back to the Top]

BBC Radio Scotland

Good morning Scotland

Dennis Novy gave a live radio interview [8.35-8.40am] on Donald Trump and his withdrawal from the Transpacific Partnership (TPP, the trade deal previously negotiated by Barack Obama with Asian/Australian partner countries). How does the withdrawal from TPP affect global trade policy and the chances of a British trade with the U.S.?

[Listen about 2:37:00 in.]


Related Links:
BBC Radio Scotland - Good morning Scotland

CEP Trade

Dennis Novy webpage



News Posted: 24/01/2017      [Back to the Top]

The Daily Star

Britain 'faces imminent GENERAL ELECTION' after Brexit blocked in bombshell ruling

Speaking to Daily Star Online, John Van Reenen, Professor of Economics at LSE, said Mrs May might be tempted to strengthen her hand in parliament. He said an election could boost her authority in both Houses, giving her a strong mandate to push through a “hard Brexit” agenda. But he added that she may “just stick to the current course” because she is “cautious by nature”.


Related Links:
The Daily Star - Britain 'faces imminent GENERAL ELECTION' after Brexit blocked in bombshell ruling

CEP Growth

John Van reenen webpage



News Posted: 24/01/2017      [Back to the Top]

El Periodico

Autora de in informe sobre el impacto de las grandes superficies

Maria Sanchez Vidal: "the coexistence between Commerce of proximity and large surfaces trade is possible"

Is author of a study on the effect of the introduction of superstores in respect of a city trade.

Related publications  'Small shops for sale! The effects of big-box openings on grocery stores', Maria Sanchez, SERC & IEB mimeo

 


Related Links:
El Periodico - Autora de in informe sobre el impacto de las grandes superficies

CEP Urban and Spatial Programme

Maria Sanchez webpage



News Posted: 24/01/2017      [Back to the Top]

BBC Radio 4

13:24

Snippet: ...Mention of  LSE research on productivity in UK compared to productivity in France and Germany
... that LSE researchers suggest that by Thursday lunchtime the other countries have produced as much as it takes us to produce by Friday afternoon ...

 

Related article

BBC News - 21 May 2015

Why the productivity gap?

Professor John Van Reenen, head of the Centre for Economic Performance at the LSE, makes the point rather graphically: "By Thursday lunchtime the other countries have produced as much as it takes us to produce by Friday afternoon when we knock off work. "So basically we could take every Friday off if we could be as productive as those other countries and earn the same amount of money."

 

 


Related Links:
BBC Radio 4 - 13:24

CEP Growth

John Van reenen webpage



News Posted: 23/01/2017      [Back to the Top]

Fortune

Why attacking free trade is great politics and bad economics

It has long been known that America’s Senate is less protectionist (i.e., more likely to favor trade deals) than the House. The usual explanation was that senators, representing larger territories, took a broader view.

But Paola Conconi, Giovanni Facchini and Maurizio Zanardi discovered that only certain U.S. senators were less protectionist. Which senators? Precisely those basking in the relative comfort of the first four years of their terms. 

Related publications

'Policymakers' horizon and trade reforms: the protectionist effect of elections', Paola Conconi, Giovanni Facchini and Maurizio Zanardi, Journal of International Economics, Vol 94, 2014.

 

 


Related Links:
Fortune - Why attacking free trade is great politics and bad economics

CEP Trade

Paola Conconi webpage



News Posted: 23/01/2017      [Back to the Top]

Bloomberg view

Why the U.S. has a monopoly on jobless recoveries

In a new paper called “Is Modern Technology Responsible for Jobless Recoveries?,” economists George Graetz and Guy Michaels looked at 17 different developed countries, from 1970 through 2011. The title refers to the hypothesis that companies replace routine workers with machines. Graetz and Michaels basically find that the modern jobless recovery is a phenomenon unique to the U.S., and that other nations manage to quickly re-employ their middle-skilled workers once bad times end.


Related Links:
Bloomberg view - Why the U.S. has a monopoly on jobless recoveries

Is Modern Technology Responsible for Jobless Recoveries?

CEP Labour Markets

Georg Graetz webpage

Guy Michaels webpage



News Posted: 23/01/2017      [Back to the Top]

Critical Mental Health Nurses' Network blog

The Layard Report

In December 2016 an electronic version of a new report became available, prior to its imminent publication in book form, by the London School of Economics. Dubbed ‘The Layard Report’ after key author Richard Layard, the actual title is The Origins of Happiness: How new science can transform our priorities. A title like that is about the boldest that could be imagined; one expects a treatise that brings together the biggest questions of philosophy from the past and present and the disciplines of psychology and psychiatry, and all kinds of intriguing demographic research. This is, after all, a 200 page document, packed full with diagrams, graphs and illustrations. In essence, the report makes one central claim: That the government is wrong to focus on lifting people out of poverty. Instead, happiness would be more efficiently created by a focus on the treatment of depression and anxiety.

 

Related Articles

Vox – 12 December 2016

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

 

 


Related Links:
Critical Mental Health Nurses' Network blog - The Layard Report

CEP Wellbeing

Richard Layard webpage



News Posted: 23/01/2017      [Back to the Top]

20 Minutos blog

Perder el empleo baja la nota media de los hijos

La inestabilidad de los contratos y el desempleo de los padres tienen efectos negativos en el rendimiento educativo de sus hijos. Es una de las principales conclusiones de un estudio elaborado por la investigadra catalana Jenifer Ruiz-Valenzuela, del Centre for Economic Performance, de la London School of Economics.

Read pdf of the article here


Related Links:
20 Minutos blog - Perder el empleo baja la nota media de los hijos

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

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

CEP Education and Skills

Jenifer Ruiz-valenzuela webpage



News Posted: 23/01/2017      [Back to the Top]

Bloomberg News

Why the U.S. has a monopoly on jobless recoveries

Most rich countries hire back workers after a recession. The U.S. replaces them with machines

Economists have recently discovered that it’s middle-skill routine jobs -- think of cashiers, telemarketers, or cooks -- that tend to get eliminated in jobless recoveries. In a landmark paper titled “The Trend is the Cycle: Job Polarization and Jobless Recoveries,” Nir Jaimovich and Henry Siu found that it’s these workers who aren’t being hired back in the U.S. after recessions hit. In fact, the much-feared phenomenon of job polarization -- the separation of the labor market into low-paid grunt work and high-paid knowledge work -- happens entirely during these U-shaped recoveries. But does this happen in other countries? If not, there might be policy steps the U.S. could take to prevent this from happening. In a new paper called “Is Modern Technology Responsible for Jobless Recoveries?,” economists George Graetz and Guy Michaels looked at 17 different developed countries, from 1970 through 2011. The title refers to the hypothesis that companies replace routine workers with machines. Graetz and Michaels basically find that the modern jobless recovery is a phenomenon unique to the U.S., and that other nations manage to quickly re-employ their middle-skilled workers once bad times end.


Related Links:
Bloomberg News - Why the U.S. has a monopoly on jobless recoveries

Is Modern Technology Responsible for Jobless Recoveries?

CEP Labour Markets

Georg Graetz webpage

Guy Michaels webpage



News Posted: 23/01/2017      [Back to the Top]

El Pais

Opinion: Microempresa y productividad: lecciones francesas

El predominio de las firmas de menos de 10 empeados es in obstaculo para la productividad e internacionalizacion

Article by Luis Garicano, Claire LeLarge and John Van Reenen

The prevalence of firms of less than 10 employees is a barrier to the internationalization.

In contrast to the more advanced economies, almost one in every two Spanish workers is employed in a micro-enterprise of less than ten people. In Germany, for example, this proportion is reduced to one of five workers. There is no doubt that this predominance of microenterprise in Spain is an obstacle to productivity and the internationalization of Spanish companies: invest in international trade or Automation is practically impossible for a firm of such small size.


Related Links:
El Pais - Opinion: Microempresa y productividad: lecciones francesas

CEP Growth

Luis Garicano webpage

John Van reenen webpage



News Posted: 22/01/2017      [Back to the Top]

Mail Online

Dr Max the Mind Doctor: Why anorexia has no respect for age

A horrifying study done 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 a quarter of people in need of treatment get it.


Related Links:
Mail Online - Dr Max the Mind Doctor: Why anorexia has no respect for age

Tackling Depression and Anxiety Disorders

The Depression Report: A New Deal for Depression and Anxiety Disorders

CEP Wellbeing

Richard Layard webpage



News Posted: 21/01/2017      [Back to the Top]

Gainsborough Standard

Should schools ban mobile phones in class?

However another study from the London School of Economics suggests a ban on phones has the effect of an extra week of classes over a pupil’s school year.

 

Also in:

Retford Today

Should schools ban mobile phones in class?

 


Related Links:
Gainsborough Standard - Should schools ban mobile phones in class?

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: 21/01/2017      [Back to the Top]

T13.cl

Brexit: 5 obstaculos que enfrenta el plan de Reino Unido para salirse de la Union Europea

"Trade agreements are based on have something to give to receive something in return. "Nobody is doing charity here", explains Swati Dhingra, academic at the center of economic performance at the LSE.


Related Links:
T13.cl - Brexit: 5 obstaculos que enfrenta el plan de Reino Unido para salirse de la Union Europea

CEP Trade

Swati Dhingra webpage



News Posted: 20/01/2017      [Back to the Top]

BBC Mundo

Brexit: 5 obstaculos que enfrenta el plan de Reino Unido para salirse de la Union Europea

"Trade agreements are based on have something to give to receive something in return. No one is making charity here", explains Swati Dhingra, academic center of economic behaviour of the LSE.

Related Links:
BBC Mundo - Brexit: 5 obstaculos que enfrenta el plan de Reino Unido para salirse de la Union Europea

CEP Trade

Swati Dhingra webpage



News Posted: 19/01/2017      [Back to the Top]

BBC Radio Leeds

Snippet...

A recent study found a ban on phones generally helps classroom performance research by the London school of economics found that after schools outlawed mobiles test scores of pupils aged 16 improved by 6.4 %.


Related Links:
BBC Radio Leeds - Snippet...

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: 19/01/2017      [Back to the Top]

BBC Radio Asia

BBC Asian Network

Swati Dhinghra commenting on free trade and Brexit.

[Time: 08:00:24]


Related Links:
BBC Radio Asia - BBC Asian Network

CEP Trade

Swati Dhingra webpage



News Posted: 19/01/2017      [Back to the Top]

BBC Radio 4

The Today Programme

0750 Swati Dhingra interviewed.

After the UK gives up full membership of the EU's customs union exporters' goods could be facing checks and delays at Britain's border.


Related Links:
BBC Radio 4 - The Today Programme

CEP Trade

Swati Dhingra webpage



News Posted: 19/01/2017      [Back to the Top]

BBC 2

Newsnight

Swati Dhingra interviewed.  Speaking about Brexit and free trade.


Related Links:
BBC 2 - Newsnight

CEP Trade

Swati Dhingra webpage



News Posted: 18/01/2017      [Back to the Top]

The Canary

At PMQs, the 'Irony Lady' revealed exactly what she's been hiding from the British public

May’s speech suggests the UK is on course to aim for a bilateral agreement. Currently, countries like Switzerland pay around 40% as much as the UK’s contribution for EU membership for access on those terms, according to the Centre for Economic Performance (CEP). And that does not include free trade in services.


Related Links:
The Canary - At PMQs, the 'Irony Lady' revealed exactly what she's been hiding from the British public

BREXIT 2016: Policy Analysis from the Centre for Economic Performance

Life after Brexit : What are the UK’s options outside the European Union?

CEP Growth CEP Trade CEP Labour Markets

Holger Breinlich webpage

Swati Dhingra webpage

Hanwei Huang webpage

Saul Estrin webpage

Gianmarco Ottaviano webpage

Thomas Sampson webpage

John Van reenen webpage

Jonathan Wadsworth webpage



News Posted: 18/01/2017      [Back to the Top]

Guardian

Theresa May's Brexit speech leaves small firms in the dark

Article by Swati Dhingra

No access to EU’s single market and replacement deals potentially decades away heightens uncertainty for UK businesses.

Theresa May’s speech on Tuesday was the government’s first informative announcement on what the UK will look like after Brexit. A customs union with the EU has been ruled out so the UK can negotiate trade deals with countries outside the EU. This hard Brexit would mean that, after we leave, the UK will trade with the EU and the rest of the world under World Trade Organisation rules, until it has negotiated its new trade deals. That is unless we make an interim agreement with the EU before we leave, which would also need to be approved by the WTO. However, we still could not make trade agreements with countries outside the EU before Brexit without the EU’s approval. The EU continues to be our biggest trade and investment partner. Exiting the single market without any other trade deal with the EU in place would mean a 5% cost disadvantage for UK manufacturers, who would face import taxes in the EU.


Related Links:
Guardian - Theresa May's Brexit speech leaves small firms in the dark

CEP Trade

Swati Dhingra webpage



News Posted: 18/01/2017      [Back to the Top]

Sputnik News

Brexit: the 'economic cost' of Sterling's surge in value after UK PM's speech

"Currency markets are always volatile and can be affected by political and economic views," Dr. Thomas Sampson, associate professor at the Center for Economic Performance at the London School of Economics told Sputnik.


Related Links:
Sputnik News - Brexit: the 'economic cost' of Sterling's surge in value after UK PM's speech

CEP Trade

Thomas Sampson webpage



News Posted: 18/01/2017      [Back to the Top]

Middlesex Minds (Middlesex University London)

Is a robot after your job?

Evidence published in 2015 by Michaels and Graetz from a dataset of companies in 17 countries gathered between 1993 and 2007, suggests that while productivity increases with robotic innovation and some semi-skilled and lower skilled jobs are abandoned, “there is some evidence of diminishing marginal returns to robot use – ‘congestion effects’ -so they are not a panacea for growth……this makes robots’ contribution to the aggregate economy roughly on a par with previous important technologies, such as the railroads in the nineteenth century and the US highways in the twentieth century.” Neither do robots do away with the contradictions within capitalist accumulation.


Related Links:
Middlesex Minds (Middlesex University London) - Is a robot after your job?

Is Modern Technology Responsible for Jobless Recoveries?

Robots at work: the impact on productivity and jobs

Robots at Work

CEP Labour Markets

Georg Graetz webpage

Guy Michaels webpage



News Posted: 16/01/2017      [Back to the Top]

SDPNoticias

Salud y amigos la formula de la felicidad segun la ciencia

Health and friends: the formula of happiness according to science

According to researcher Lord Richard Layard, people have not increased their levels of happiness in the past 50 years, while the average income has increased in countries that make up the research. This is because humans are more connected emotionally to your health and relationships, than money.

 

Related articles

The big factors affecting life satisfaction are all non-economic’, Andrew Clark, Sarah Fleche, Richard Layard, Nattavudh Powdthavee and George Ward, LSE Business Review blog, 12 December 2016


Related Links:
SDPNoticias - Salud y amigos la formula de la felicidad segun la ciencia

CEP Wellbeing

Andrew Clark webpage

Sarah Flèche webpage

Richard Layard webpage

Nattavudh Powdthavee webpage

George Ward webpage



News Posted: 12/01/2017      [Back to the Top]

El Financiero

Cuando los ricos tambien lloran

When the rich also cry

Richard Layard in his book "Happiness", says that the standard of life is similar to the alcohol or to the drugs. Once is has some experience in that sense, is necessary follow ascending, if is you want to hold it satisfaction, as if outside a Vice.


Related Links:
El Financiero - Cuando los ricos tambien lloran

Mental Health: the Choice of Therapy for All

CEP Wellbeing

Richard Layard webpage



News Posted: 11/01/2017      [Back to the Top]

Pavlovic Today

3 reasons why Brexit was astonishingly the right decision

With popular google search results ranging from “What is the EU” to “What will happen if we leave the EU” from Britain hours after the referendum, it is clear that Brexit was an unknowledgeable decision. However, the ones who did vote knowledgeably had their own reasons to do so. According to labour-market economists Brian Bell and Stephen Machin, countries who voted to leave had their weakest wage growth since 1997. For them, Brexit would mean greater opportunities and higher potential for economic growth. Other studies show that Brexit was a decision fueled by nonacceptance to social issues such as feminism and environmentalism that are taking place in Britain with it being part of the EU. Perhaps a major reason for citizens all over Britain is the rare opportunity to restore the country’s sovereignty, although undemocratic to Eurosceptics.

Related article

Brexit and wage inequality’, Brian Bell and Stephen Machin, Vox, August 16, 2016 

 

Related publications

Brexit and wage inequality’, Brian Bell and Stephen Machin.  Chapter in Brexit beckons: thinking ahead by leading economists, R. Baldwin (Ed), August 2016

 


Related Links:
Pavlovic Today - 3 reasons why Brexit was astonishingly the right decision

CEP Labour Markets

Brian Bell webpage

Stephen Machin webpage



News Posted: 11/01/2017      [Back to the Top]

Forbes

We won't even know if a robot takes your job

Using national level data on worldwide robot shipments across 17 countries, George Graetz and Guy Michaels show that robots may have been responsible for about a tenth of the increases in those countries’ gross domestic product between 1993 and 2007, and may have increased labor productivity growth by over 15%. This might sound like it’s a small number, but it’s not. According to the authors, this number is comparable to the impact of steam engines on British labor productivity growth in the 19th Century. Does this growth come at the expense of labor? Graetz and Michaels find some evidence that wages go up on average as robot use increases. But they also find some evidence that hours worked drops for low-skilled and middle-skilled workers. A paper by Daron Acemoglu and Pascual Restrepo focuses on the effect of robots on the U.S. labor market and estimates that each additional robot reduces employment by seven workers and that one new robot per thousand workers reduces wages by 1.2 to 1.6%.


Related Links:
Forbes - We won't even know if a robot takes your job

Robots at work: the impact on productivity and jobs

Robots at Work

CEP Labour Markets

Guy Michaels webpage

Georg Graetz webpage



News Posted: 11/01/2017      [Back to the Top]

Huffpost Politics

What makes people happy? Education policymakers must prioritise emotional health

As highlighted by LSE researchers, UK education policymakers have focused much of their attention on improving academic achievement over the last half century, in the hope that this will result in higher levels of life satisfaction amongst the population. But with this focus on high academic achievement, have we lost sight of why we want our children to get good grades?

Related Articles

Vox – 12 December 2016

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


Related Links:
Huffpost Politics - What makes people happy? Education policymakers must prioritise emotional health

CEP Wellbeing

Andrew Clark webpage

Sarah Flèche webpage

Richard Layard webpage

Nattavudh Powdthavee webpage



News Posted: 11/01/2017      [Back to the Top]

Morning Star

Modern childhood a vital class issue for the left

A nasty mix of neoliberalism and the Tories’ austerity policies are having appalling effects on our children’s health and welfare

And so we come to the present day, with a 10-year anniversary press letter appearing in the Guardian on Boxing Day, co-organised with Dr Sharie Coombes and signed by a host of cultural luminaries — including Rowan Williams, the NUT’s Kevin Courtney, (Sirs) Jonathon Porritt, Anthony Seldon and Richard Bowlby; writer Philip Pullman; psychologists Oliver James, Susie Orbach and Sue Gerhardt; educationalists Robin Alexander, Penelope Leach, Sir Christopher Ball, Guy Claxton and Sir Tim Brighouse and a host of eminent professors — including Baroness Susan Greenfield, Lord Richard Layard, Andrew Samuels and Sami Timimi. If all these eminent people, with stellar professional and academic reputations to protect, are prepared to sign a public letter as outspoken as ours about children’s wellbeing, then something surely is rotten to the core in neoliberal Britain and we must urgently do something about it.

 

Related article

Guardian

Letter: Screen-based lifestyle harms children’s health

A decade ago our first multiple-signatory “toxic childhood” press letter described how children’s health and wellbeing were being undermined by the decline of outdoor play, increasingly screen-based lifestyles, a hyper-competitive schooling system and the unremitting commercialisation of childhood.

Despite widespread public concern, subsequent policymaking has been half-hearted, short-termist and disjointedly ineffective. The above factors continue to affect children adversely, with “school and cool” displacing active, self-directed play at an ever-earlier age. Physical health problems like obesity continue to escalate, and mental health problems among children and young people are approaching crisis levels. As well as the intense distress caused to families, there are obviously longer-term social and economic consequences for society as a whole.


Related Links:
Morning Star - Modern childhood a vital class issue for the left

CEP Wellbeing

Richard Layard webpage



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

Minyanville

Health is more important than wealth

The old folk saying "If you've got your health you've got your wealth" is finding new proponents from a recent study done by the London College of Economics, under the direction of Lord Richard Layard. Layard, who holds advanced degrees in medical science, economics, philosophy, and psychology, is quoted as saying "Research shows more clearly than ever that there is a direct correlation between a person's physical and emotional health and their happiness and satisfaction with life."


Related Links:
Minyanville - Health is more important than wealth

CEP Wellbeing

Richard Layard webpage



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

Aftenposten (Norway)

Professor: ''Det er rett og slett ikke tilfelle at innvandrere tar jobbene fra dem som allerede bor i landet''

"It is simply not the case that immigrants are taking jobs from those who already live in the country"

Professor Alan Manning denied that immigrants take jobs.  If it were so, wouldn't Canada and Australia have been a financial chaos?


Related Links:
Aftenposten (Norway) - Professor: ''Det er rett og slett ikke tilfelle at innvandrere tar jobbene fra dem som allerede bor i landet''

CEP Community

Alan Manning webpage



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

iTECH POST

Millennials' happiness is tied to having close friends at work

A compilation of surveys show that millennial's happiness is closely tied to having close friends at work. Good working relationships seem to make people more productive and satisfied with life. …

In another study by Lord Richard Layard, it showed that people on average have reported feeling the same level of happiness in 50 years despite average income more than doubling, The Guardian says.

 

Related articles

The big factors affecting life satisfaction are all non-economic’, Andrew Clark, Sarah Fleche, Richard Layard, Nattavudh Powdthavee and George Ward, LSE Business Review blog, 12 December 2016


Related Links:
iTECH POST - Millennials' happiness is tied to having close friends at work

CEP Wellbeing

Andrew Clark webpage

Sarah Flèche webpage

Nattavudh Powdthavee webpage

Richard Layard webpage

George Ward webpage



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

Independent

Brexit report promoted by right-wing press condemned by economic experts

“There’s absolutely no controversy about gravity models,” said Swati Dhingra, assistant professor at the London School of Economics, also pointing out that gravity models are the subject of the second chapter of the new handbook of international economics. Thomas Sampson, also an assistant professor at the LSE, added that the Cambridge team’s own analysis was itself methodologically flawed.


Related Links:
Independent - Brexit report promoted by right-wing press condemned by economic experts

BREXIT 2016: Policy Analysis from the Centre for Economic Performance

CEP Trade

Swati Dhingra webpage

Thomas Sampson webpage



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

Financial Times

The cost of taking mental health seriously

After decades languishing as one of the most underfunded medical problems, mental illness began to receive some of the attention it deserved under Tony Blair’s government. In 2006, a London School of Economics study led by Professor Richard Layard provided the inspiration for an expansion of psychotherapy services.


Related Links:
Financial Times - The cost of taking mental health seriously

Tackling Depression and Anxiety Disorders

The Depression Report: A New Deal for Depression and Anxiety Disorders

CEP Wellbeing

Richard Layard webpage



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

LSE Business Review blog

Social mobility in the United States depends heavily upon where you live

There is considerable geographical variation in the opportunities available to disadvantaged children in the United States, according to research by Raj Chetty, who delivered the 2016 Lionel Robbins Memorial Lectures at LSE. Maria Molina-Domene talked to him about his findings, the use of big data and the implications for policy.

Raj began his first lecture with a striking comparison of how far the United States is from achieving ‘the American Dream’ in terms of social mobility. He highlighted the fact that the probability of a child born to parents in the bottom fifth of the income distribution reaching the top fifth is 7.5 percent in the United States. This compares with the figure of 9 percent for the UK revealed in CEP research by Jo Blanden and Stephen Machin.


Related Links:
LSE Business Review blog - Social mobility in the United States depends heavily upon where you live

Social Mobility in Britain: Low and Falling

CEP Labour Markets

Maria Molina-domene webpage



News Posted: 06/01/2017      [Back to the Top]

LSE United States Politics and Policy blog

Social mobility in the United States depends heavily on where you live

There is considerable geographical variation in the opportunities available to disadvantaged children in the United States, according to research by Raj Chetty, who delivered the 2016 Lionel Robbins Memorial Lectures at LSE. Maria Molina-Domene talked to him about his findings, the use of big data and the implications for policy.

Raj Chetty was in London in October to deliver three lectures on the theme of social mobility in the United States. While he was at LSE’s Centre for Economic Performance (CEP), I talked to him about the use of big data in economic research, notably in the Equality of Opportunity Project that he leads. His findings on the differences in opportunity across local areas in the United States and the causal impact of neighborhoods were the core of his lectures.


Related Links:
LSE United States Politics and Policy blog - Social mobility in the United States depends heavily on where you live

In brief... Social mobility in the United States

CEP Labour Markets

Maria Molina-domene webpage



News Posted: 06/01/2017      [Back to the Top]

Foreign Affairs (New Zealand)

Press Release: Sir David Metcalf named as the first Director of Labour Market Enforcement

Sir David Metcalf has today (5 January 2017) been named as the first Director of Labour Market Enforcement to oversee a government crackdown on exploitation in the workplace.


Related Links:
Foreign Affairs (New Zealand) - Press Release: Sir David Metcalf named as the first Director of Labour Market Enforcement

CEP Labour Markets

David Metcalf webpage



News Posted: 05/01/2017      [Back to the Top]

The Times

It is the sport of kings and, apparently, tsars as well...

The minimum wage tsar is more interesting than the government would have you believe. The biography, as released by Whitehall, of Professor Sir David Metcalf, who has been appointed as the first director of labour market enforcement, lists several worthy previous public sector appointments. However, his university, the London School of Economics, paints a slightly more rounded picture, pointing out that he owns a leg in a racehorse and has been a steward at Kempton and Plumpton racecourses.


Related Links:
The Times - It is the sport of kings and, apparently, tsars as well...

CEP Labour Markets

David Metcalf webpage



News Posted: 05/01/2017      [Back to the Top]

Home Office - gov.uk

Sir David Metcalf named as the first Director of Labour Market Enforcement - press release

Sir David, who was chairman of the Migration Advisory Committee until August 2016, will set the strategic priorities for the:

  • Gangmasters and Labour Abuse Authority
  • Employment Agency Standards Inspectorate
  • HMRC’s National Minimum Wage enforcement team

Related Links:
Home Office - gov.uk - Sir David Metcalf named as the first Director of Labour Market Enforcement - press release

CEP Labour Markets



News Posted: 05/01/2017      [Back to the Top]

The Times

Employers face jail over minimum wage

Employers who deny workers the minimum wage could face two years in jail under plans to accelerate a crackdown on unscrupulous companies and gangmasters.  The government will appoint a “labour market enforcement director” today to clamp down on the exploitation of casual workers.  The new role will be taken up by Sir David Metcalf, an industrial relations professor at the London School of Economics and, until recently, a key adviser to Downing Street on migration.


Related Links:
The Times - Employers face jail over minimum wage

CEP Labour Markets

David Metcalf webpage



News Posted: 05/01/2017      [Back to the Top]

The Planner

Housing professionals recognised in New Year's Honours

Paul Cheshire, economist and emeritus professor of economic geography at the LSE, has been awarded a CBE for services to economics and housing.


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The Planner - Housing professionals recognised in New Year's Honours

CEP Urban and Spatial Programme

Paul Cheshire webpage



News Posted: 04/01/2017      [Back to the Top]

Investors Chronicle

More profit warnings

Investors should brace themselves for more profit warnings in 2017.

This isn't simply because economic growth will slow this year: economists expect an expansion of only 1.2 per cent this year after 2 per cent growth last. Nor is it just because there's danger of a squeeze upon the profit margins of firms that don't export much. It's also because economic slowdowns affect the distribution of growth rates across companies. As the macroeconomy weakens, corporate growth becomes more negatively skewed, so that a disproportionate number of firms do badly. This was first pointed out by Paul Geroski and Paul Gregg in a study of the 1990-91 recession in the UK. They showed that just 10 per cent of firms accounted for 84 per cent of the drop in profits then. However, a recent paper by Nick Bloom of Stanford University and Fatih Guvenen and Sergio Salgado at the University of Minnesota shows that much the same is true around the world. They studied corporate sales growth in 44 countries between 1986 and 2013 and found that "periods of low economic activity are characterised by an increase in the probability of very large negative shocks at the firm level".


Related Links:
Investors Chronicle - More profit warnings

CEP Growth

Nick Bloom webpage



News Posted: 04/01/2017      [Back to the Top]

Mail Online

Gloomy economists forecast Brexit trouble ahead for the UK…despite getting it wrong last year

Four in ten leading economists are more pessimistic about Britain's future after Brexit, despite the buoyant economy since the vote, according to a new FT poll. While many are looking to 2017 for a spot of better luck than 2016, UK economists are less optimistic about what the coming year will bring, the annual survey found. The Financial Times asked 122 industry experts to give their predictions for the next 12 months, with the vast majority foreseeing the British economy losing steam in the wake of higher inflation and Brexit uncertainty.


Related Links:
Mail Online - Gloomy economists forecast Brexit trouble ahead for the UK…despite getting it wrong last year

CEP Labour Markets CEP Growth

Stephen Machin webpage

John Van reenen webpage



News Posted: 03/01/2017      [Back to the Top]

Daily Telegraph

11 green New Year's resolutions that put the planet first

According to a study from the London School of Economics, brisk walking is a better deterrent against obesity than any other form of exercise.

Men and women who walk briskly for more than 30 minutes a day were found to have lower BMIs and smaller waists than everyone else involved in the study.


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Daily Telegraph - 11 green New Year's resolutions that put the planet first

CEP Wellbeing

Grace Lordan webpage



News Posted: 03/01/2017      [Back to the Top]

BBC Mundo (Spain)

Trump, Brexit, eleccciones europeas y otros enigmas de la economía para 2017

El comercio mundial patas arriba

Swati Dhingra, especialista de comercio de la London School of Economics, pone el acento en otro peligro.

"Lo más grave sería una guerra comercial de Estados Unidos con China en caso de que imponga aranceles y que China apele ante la Organización Mundial del Comercio", le dijo Dhigra al dominical británico The Observer.

More serious would be a commercial war between United States with China should impose tariffs and that Chinese appeal before the Organization World of the trade", said Dhingra to the British Sunday paper ‘The Observer’.

Also in:  Hispantv.com ¿Cuáles son los enigmas principales de la economía para 2017?/What are the major mysteries of the economy for 2017?

 


Related Links:
BBC Mundo (Spain) - Trump, Brexit, eleccciones europeas y otros enigmas de la economía para 2017

CEP Trade

Swati Dhingra webpage



News Posted: 03/01/2017      [Back to the Top]

Financial Times

Brexit: 5 questions for 2017

Further reading

A derided expert speaks John Van Reenen, the outgoing director of the LSE’s Centre for Economic Performance takes no prisoners in a hard-hitting review of Brexit. Among other topics he examines the ‘lump of labour fallacy’ behind immigration concerns, the media’s Euroscepticism and Britain’s politicians, who are surely the “worst in living memory”. (LSE blog).

 

Related article

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

 


Related Links:
Financial Times - Brexit: 5 questions for 2017

CEP Growth

John Van reenen webpage



News Posted: 03/01/2017      [Back to the Top]

The Financial Times

Weaker pound expected to reduce immigration

Slower economic growth also predicted to deter new migrants

Question:  ‘What do you think will happen to immigration?’

Stephen Machin, professor of economics, London School of Economics

It does not seems likely to change much and therefore not much impact to follow. A worry is that high skill immigration is slowed down by current events and attitudes.

 

John Van Reenen, professor of economics, MIT

Since negotiations will be still be going on after Article 50 triggered, there will not be much effect. Levels will probably remain high (net migration above 300k) until we exit in 2018 and more controls are then introduced. More EU immigrants will come in 2017 to avoid the 2018 controls. The reduction in immigration will reduce overall growth significantly and reduce GDP per capita a bit. The loss of deep access to Single Market due to ending free movement will be the main negative effect over long-run. Lower immigration will do nothing to help UK workers — see http://cep.lse.ac.uk/pubs/download/brexit05.pdf

See Also:

Financial Times

  1. Bank of England expected to keep its options open

    ...monetary discipline in the UK too. Stephen Machin, professor of economics, London School of Economics...

    ...that the approach will be very cautious. On the whole upside risk for higher interest rates but slowly. John Van Reenen

  2. Inflation predicted to rise above 2 per cent target in 2017

    ..., falling below it at the start of 2018. Stephen Machin, professor of economics, London School of Economics It seems...

    ...business cycle, wage increases and especially the weak pound are adding to inflationary pressures in 2017. John Van Reenen


Related Links:
The Financial Times - Weaker pound expected to reduce immigration

CEP Growth CEP Labour Markets

Stephen Machin webpage

John Van reenen webpage



News Posted: 02/01/2017      [Back to the Top]

The Financial Times

Chancellor likely to overshoot borrowing forecast, economists say

Contributing factors include weaker tax revenues and pressure to rein in cuts

Question:  ‘Do you think the government will need to borrow more than it has forecast in 2017?’

Stephen Machin, professor of economics, London School of Economics

Government borrowing, if it is for areas that increase long-term growth, is not a bad thing. Indeed, while borrowing to fund infrastructure and innovation may increase the deficit in the short run it will probably decrease debt/GDP in the long run due to the effects on productivity and GDP growth (this is why countries like Italy that have not invested in these areas have low deficits but high debt/GDP). I believe, however, that UK borrowing will increase for the following good and bad reasons: (1) GOOD: because it seems that May’s government wants to bet on an active industrial and innovation policy: this requires an active investment strategy which in the short-run may increase the deficit. (2) BAD because Brexit will continue to be a major drain on the economy, causing government to waste a large amount of resources in managing the process (with evidence that they are already paying KPMG and other consultants exorbitant rates for the ‘outsourced’ part of this management), and also to make up for the lost (eventual) EU investment (Horizon, ERC, EIB etc). And (3) BAD because the fall in corporate income tax will increase the deficit, without having any effect on real investment. It will, I believe, only fuel inequality, which in the long run also raises the deficit, both due to the welfare payments that rise with inequality, and the lower tax receipts.

 

John Van Reenen, professor of economics, MIT

The current plans remain too optimistic. He will correctly use more flexibility to expand investment from current plans. Will not cur current deficit as much as planned.


Related Links:
The Financial Times - Chancellor likely to overshoot borrowing forecast, economists say

CEP Labour Markets CEP Growth

Stephen Machin webpage

John Van reenen webpage



News Posted: 02/01/2017      [Back to the Top]

The Financial Times

Economists gloomy on UK prospects for 2017

Growth will slow, incomes will be squeezed and investment delayed, FT survey finds

Question: ‘How much, if at all, do you expect UK economic growth to slow in 2017?’

Stephen Machin, professor of economics, London School of Economics

It seems likely to that growth will be a fair bit slower than pre-Brexit referendum forecasts, mostly because the prospects of productivity and/or real wage growth do not look very promising.

 

John Van Reenen, professor of economics, MIT

Slow to about 1.4%. Greater policy uncertainty over Trump, Brexit & elections in France and Germany will harm investment and hiring

.


Related Links:
The Financial Times - Economists gloomy on UK prospects for 2017

CEP Growth CEP Labour Markets

Stephen Machin webpage

John Van reenen webpage



News Posted: 02/01/2017      [Back to the Top]