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CEP in the News 2017     feed/rss

Brinkwire

The ages people are happiest with their money, their looks, and their life, in one chart

Meanwhile, in all three areas, people reported the lowest levels of happiness between the ages of 45 and 59, according to data from the Centre for Economic Performance, Proceedings of the National Academy of Sciences, and the General Social Survey.


Related Links:
Brinkwire - The ages people are happiest with their money, their looks, and their life, in one chart

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

CEP Wellbeing

Hannes Schwandt webpage



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

Bloomberg.com

Nurture counts as much as nature in success

How about the notion that smarts determine life success? That idea too has come under assault from recent research. A recent paper by economists Alex Bell, Raj Chetty, Xavier Jaravel, Neviana Petkova, and John Van Reenen -- a star-studded list of names -- finds that at least for certain kinds of achievement, factors other than natural ability matter quite a lot.

Related publications

‘Who Becomes an Inventor in America?  The Importance of Exposure to Innovation’, Alex Bell, Raj Chetty, Xavier Jaravel, Neviana Petkova and John Van Reenen, mimeo, December 2017

http://www.equality-of-opportunity.org/assets/documents/inventors_paper.pdf


Related Links:
Bloomberg.com - Nurture counts as much as nature in success

CEP Growth

John Van reenen webpage



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

The Times

Ban children from bringing mobile phones to school

Snippet: ...ist, but if for the sake of argument Leonardo had imagined them as aides to scholastic culture and attainment he would have been laughed out of the Renaissance. Now that they do exist, the evidence is hard to ignore. An LSE study two years ago ...


Related Links:
The Times - Ban children from bringing mobile phones to school

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

Ill Communication: Technology, Distraction & Student Performance

CEP Education and Skills

Richard Murphy webpage



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

Foreign Affairs

The Truth About the Minimum Wage

Article by Alan Manning.  It has been more than eight years since many of the United States’ cashiers, dishwashers, janitors, lifeguards, baggage handlers, baristas, manicurists, retail employees, housekeepers, construction laborers, home health aides, security guards, and other minimum-wage workers last got a raise. The federal minimum wage now stands at just $7.25. In real terms, these workers’ earnings have declined by nearly 13 percent since the last hike, in 2009—and have fallen by over one-third since 1968, when the real federal minimum wage was at its peak of $11.38 in today’s money (although only $1.60 then). Although most Americans think the minimum wage should go up—one 2017 poll found that 75 percent supported raising it to $9.00 per hour—today’s Republican-controlled Congress is unlikely to act.


Related Links:
Foreign Affairs - The Truth About the Minimum Wage

CEP Community

Alan Manning webpage



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

Szaopressa.com (Russia)

May: The estimated amount of "compensation" for Brexit will be approximately 35-39 billion pounds

In a study of the English Center for Economic Performance, published in late autumn, it is reported that only the fact of voting for England's withdrawal from the European Union has resulted in serious losses for the British economy and households.


Related Links:
Szaopressa.com (Russia) - May: The estimated amount of "compensation" for Brexit will be approximately 35-39 billion pounds

The Brexit Vote, Inflation and UK Living Standards

CEP Trade

Holger Breinlich webpage

Elsa Leromain webpage

Dennis Novy webpage

Thomas Sampson webpage



News Posted: 11/12/2017      [Back to the Top]

Education Week online

Can schools help uncover ‘Lost Einsteins’ in next generation of inventors?

At nearly 326,000, the number of new U.S. patents has more than doubled from 2005 to 2015. But in every year since 2008, the patents granted to foreign inventors have outpaced those of U.S. inventors, and a new study suggests the nation could be overlooking thousands of potential young inventors. As part of the ongoing Equality in Opportunity Project, researchers from Harvard and Stanford Universities, the Massachusetts Institute of Technology, the London School of Economics, and the U.S. Treasury Department analyzed data from 1.2 million inventors, using patents issued from 1996 to 2014, linked to tax records, to trace the role of early grades and environment to their later innovation. The working paper was published by the National Bureau of Economic Research.

 

Related publications

‘Who Becomes an Inventor in America?  The Importance of Exposure to Innovation’, Alex Bell, Raj Chetty, Xavier Jaravel, Neviana Petkova and John Van Reenen, mimeo, December 2017

http://www.equality-of-opportunity.org/assets/documents/inventors_paper.pdf


Related Links:
Education Week online - Can schools help uncover ‘Lost Einsteins’ in next generation of inventors?

CEP Growth

John Van reenen webpage



News Posted: 11/12/2017      [Back to the Top]

Quartz

France is banning mobile phones in schools

On Sunday, France’s education minister announced that mobile phones will be banned from primary, junior, and middle schools, calling it a matter of “public health.”  Research is on Bloomberg—and the French government’s—side. According to a 2015 working paper (pdf) published by the London School of Economics, schools that banned mobile phones saw test scores for their 16-year-olds improve by 6.4%, or the equivalent of adding five days to the school year. “We found that not only did student achievement improve, but also that low-achieving and low-income students gained the most,” economists Philippe Beland and Richard Murphy told the BBC.

Also in:

Taiwan News

Banned cell phones on French campuses are expected to be implemented in September 2018

According to a 2015 study by the London School of Economics and Politics, the 16-year-old student's grade increased by 6.4% in schools that banned cell phones, or the equivalent of five days of extra school days in a school year. Economists Philippe Beland and Richard Murphy told the BBC: "We noticed that not only did students score better, but among them, low-income and low-achieving students grew the most."


Related Links:
Quartz - France is banning mobile phones in schools

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

Ill Communication: Technology, Distraction & Student Performance

CEP Education and Skills

Richard Murphy webpage



News Posted: 11/12/2017      [Back to the Top]

Future of Work Commission report

(page 34) cites Georg Graetz and Guy Michaels, “Robots at Work,” IDEAS Working Paper Series, 2015.


Related Links:
Future of Work Commission report - (page 34) cites Georg Graetz and Guy Michaels, “Robots at Work,” IDEAS Working Paper Series, 2015.

Robots at work: the impact on productivity and jobs

Robots at Work

CEP Labour Markets

Georg Graetz webpage

Guy Michaels webpage



News Posted: 11/12/2017      [Back to the Top]

Eurasia Review

House prices and the UK economy – analysis

CFM-CEPR expert survey explores two aspects of recent developments in UK house prices

Question 2: Do you agree that a more widespread weakening of the UK housing market will slow UK GDP growth significantly?

Many panel members point out problems of looking at correlations between economic activity and house prices. … John Van Reenen (MIT Sloan) similarly argues that a Brexit-induced decline in real incomes will cause “both a fall in consumption and house prices (relative to trend)”.


Related Links:
Eurasia Review - House prices and the UK economy – analysis

CEP Growth

John Van reenen webpage



News Posted: 08/12/2017      [Back to the Top]

Rambler.ru (Russia)

Jean-Claude Juncker summed up the first phase of negotiations between the UK and the EU

The decision to leave the UK from the EU negatively affected the quality of life of citizens. This conclusion was reached by the specialists of the Center for Economic Performance research center, having found out that every British family had suffered a fall in living standards.


Related Links:
Rambler.ru (Russia) - Jean-Claude Juncker summed up the first phase of negotiations between the UK and the EU





News Posted: 08/12/2017      [Back to the Top]

Business Insider

Brexit arguments rumble on as breakthrough is still awaited, says Ken Symon

Brexit arguments rumble on as breakthrough is still awaited, says Ken Symon

Research by three academics from the London School of Economics, Josh De Lyon, Swati Dhingra and Stephen Machin shows that inflation in the UK has risen faster than the eurozone since the referendum with price rises varying across sectors.


Related Links:
Business Insider - Brexit arguments rumble on as breakthrough is still awaited, says Ken Symon

In brief ... Brexit: the impact on prices

CEP Trade CEP Labour Markets

Josh De lyon webpage

Swati Dhingra webpage

Stephen Machin webpage



News Posted: 08/12/2017      [Back to the Top]

BBC Radio Surrey (6:30:41 AM)

CEP on Radio

… within the next half an hour Mole Valley and Drygate and Banstead among the areas which would be hit hardest by Brexit according to a report by researchers at the London School of Economics say both economies are expected to see a decline partly because of the jobs and businesses which are based there politicians and some business groups say they're sceptical of the report but the LSE says they believe it's an accurate estimate.


Related Links:
BBC Radio Surrey (6:30:41 AM) - CEP on Radio

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 08/12/2017      [Back to the Top]

The Lancet

Transparency about the outcomes of mental health services (IAPT approach): an analysis of public data

David M Clark, Lauren Canvin, John Green, Richard Layard, Stephen Pilling and Magdalena Janecka

DOI:  10.1016/S0140-6736(17)32133-5


Related Links:
The Lancet - Transparency about the outcomes of mental health services (IAPT approach): an analysis of public data

CEP Wellbeing

Richard Layard webpage



News Posted: 07/12/2017      [Back to the Top]

Diario Vasco online

Los usuarios aspiran a que los móviles les ayuden a decidirse/Users want mobile phones to help them decide

"The results of this study make clear the incredible potential and capacity of both the brain and the AI technology." Artificial Intelligence replicates the process of unconscious decision-making, which is why it has so much potential to improve our ability to decide and, therefore, our happiness ", says Paul Dolan, professor of behavioral sciences of the Department of Psychological and Behavioral Sciences of the London School of Economics and Political Science.


Related Links:
Diario Vasco online - Los usuarios aspiran a que los móviles les ayuden a decidirse/Users want mobile phones to help them decide

CEP Wellbeing

Paul Dolan webpage



News Posted: 07/12/2017      [Back to the Top]

BBC TV Wales (Bangor)

The Daily Politics (30:22)

Sandra McNally from CEP comments on effectiveness of phonics as method of teaching literacy.


Related Links:
BBC TV Wales (Bangor) - The Daily Politics (30:22)

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: 07/12/2017      [Back to the Top]

TRT World News

Roundtable – ‘Are natural resources a blessing or a curse?’ [52:53]’

Guy Michaels roundtable discussion guest.

Sitting on a gold mine - but why do some countries rich in precious metals, stones or oil struggle to reap the benefits? An abundance of natural resources can bring great prosperity, but it can also have the opposite effect – weaker economies and democracies - and less development. It’s the paradox of plenty, also known as the ‘resource curse’. At the Roundtable was Leif Wenar, author of ‘Blood Oil: Tyrants, Violence, and the Rules that Run the World’; Guy Michaels, associate professor of Economics at London School of Economics; and Chiara Ravetti, researcher in Resource rich economies at the University of Oxford.

https://www.youtube.com/watch?v=Xzi-L7niC0I&list=PLUW304lJeu3Wq792ZuY62Cq7gWzbygo5F&index=1

Related publications

Guy Michaels

Economic Journal, March 2011, 121(551): 31-57

(previously CEP DP: https://ideas.repec.org/p/cep/cepdps/dp0766.html)

 

Guy Michaels with Yu-Hsiang Lei

Journal of Development Economics, September 2014, 110: 139-157

(previously CEP DP: https://ideas.repec.org/p/cep/cepdps/dp1089.html)

Guy Michaels with Francesco Caselli

American Economic Journal: Applied Economics, January 2013, 5(1): 208-238

(previously CEP DP: https://ideas.repec.org/p/cep/cepdps/dp0960.html)


Related Links:
TRT World News - Roundtable – ‘Are natural resources a blessing or a curse?’ [52:53]’

CEP Labour Markets

Guy Michaels webpage



News Posted: 07/12/2017      [Back to the Top]

MILTECH

Meditation and mindfulness can dramatically help rinsoners improve mental health and wellbeing says author Doug Carnine

 An article in the British newspaper The Telegraph by Sophie Jamieson described how mindfulness and meditation training helped prisoners and prison guards control anger and reduce depression and anxiety. The same article also described how almost 200 MPs, peers, and staff received similar training following Labour MP Chris Ruane and Lord Richard Layard setting up a program in Westminster that called for.“…the role of mindfulness and mental wellbeing to be officially recognised and reflected in policy, including in healthcare, education and criminal justice.”


Related Links:
MILTECH - Meditation and mindfulness can dramatically help rinsoners improve mental health and wellbeing says author Doug Carnine

CEP Wellbeing

Richard Layard webpage



News Posted: 07/12/2017      [Back to the Top]

Bibb.de (Germany)

News: Building apprentices’ skills in the workplace: Car service in Germany, the UK and Spain

The paper published at the London School of Economics is the result of an international collaboration between Hilary Steedman (former member of BIBB's scientific advisory board) and researchers from BIBB.

CVER's Hilary Steedman and colleagues have been looking at training in one area of the automotive sector  Car Service is central to the supply chain of the wider automotive sector, identified as a leading performer in the UK government’s 2017 Industrial Strategy. We asked Car Service employers in Germany, UK and Spain about skill shortages and their experience of training apprentices in the workplace. Car Service technicians are trained in apprenticeship in Germany and the UK. The UK Advanced Apprenticeship and German 3-year Apprenticeship aim for a similar set of standards. In Spain, technicians are trained in full-time College courses which include a short period of work experience. In all three countries most firms are small.

https://www.bibb.de/en/index.php

 

Related links

Hilary Steedman, CVER Expert webpage:  http://cver.lse.ac.uk/about/Expert_Advisors.asp#Steedman

Centre for Vocational Education Research (CVER) blog webpage:  http://cver-blog.blogspot.co.uk/


Related Links:
Bibb.de (Germany) - News: Building apprentices’ skills in the workplace: Car service in Germany, the UK and Spain

CEP CVER



News Posted: 07/12/2017      [Back to the Top]

Gulf Times online

Premier faces growth Tory civil war over soft Brexit deal

A recent study by LSE said Brexit without a trade deal would cost London over £100bn over five years, while staying in the single market would reduce the losses to some £58bn.


Related Links:
Gulf Times online - Premier faces growth Tory civil war over soft Brexit deal

The Local Economic Effects of Brexit

CEP Trade CEP Labour Markets CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 06/12/2017      [Back to the Top]

Information Age

What are the parallels between the human brain and artificial intelligence?

Paul Dolan, Professor of Behavioural Science in the Department of Psychological and Behavioural Science at the London School of Economics and Political Science, commented on the research and stated that results are fascinating “and absolutely demonstrate that the automatic mind processes many things unconsciously. Contrary to what most of us believe, human decision-making is a process handled to a large extent by unconscious mental activity – and in ways that are actually really helpful. We create habits to prevent our minds from being overloaded by simple routine tasks.”


Related Links:
Information Age - What are the parallels between the human brain and artificial intelligence?

CEP Wellbeing

Paul Dolan webpage



News Posted: 06/12/2017      [Back to the Top]

Men’s Journal Online

How to be happier

When men hit their forties, their happiness hits the skids. That’s just one of the insights that Paul Dolan, a professor of behavioral science at the London School of Economics, has found in his 10 years of studying what makes us happy. In his book, Happiness by Design: Change What You Do, Not How You Think, Dolan lays out simple solutions for increasing life satisfaction: Structure your days around the things you enjoy, stop toiling away toward goals you may not even want to meet, and balance your life with purpose and pleasure.


Related Links:
Men’s Journal Online - How to be happier

CEP Wellbeing

Paul Dolan webpage



News Posted: 06/12/2017      [Back to the Top]

Evening Standard (London)

Now Tory civil war deepens over soft Brexit

Snippet:... A recent study by LSE said Brexit without a trade deal would cost London over £100 billion over five years, while staying in the single market would reduce the losses to some £58 billion


Related Links:
Evening Standard (London) - Now Tory civil war deepens over soft Brexit

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 06/12/2017      [Back to the Top]

Royal Economic Society (RES) Annual Public Lecture 2017

Professor Stephen Machin - 'Why Commit Crime? Economic Incentives for Criminal Behaviour'

The 2017 Annual Public Lecture took place at the Royal Institution, London on 22 November 2017. In this lecture Professor Stephen Machin discusses the importance of economic incentives as a determinant of crime, what economists can contribute to our understanding of why people commit crime and what can be done to discourage, detect and apprehend criminals.


Related Links:
Royal Economic Society (RES) Annual Public Lecture 2017 - Professor Stephen Machin - 'Why Commit Crime? Economic Incentives for Criminal Behaviour'

CEP Labour Markets

Stephen Machin webpage



News Posted: 06/12/2017      [Back to the Top]

Derstandard (Austria)

Globaler Vergleich: Österreich verschläft Pensionsreformen/ Global comparison: Austria overseats pension reforms

The skepticism about future growth potential is becoming international. Stanford economist Nicholas Bloom recently pointed out that innovation as a growth engine has become increasingly costly. "What worries me most is our pension systems and budget deficits," says Bloom. The policy looks back 20 to 30 years and assume that the next decades are going similarly well. That could give a rude awakening.


Related Links:
Derstandard (Austria) - Globaler Vergleich: Österreich verschläft Pensionsreformen/ Global comparison: Austria overseats pension reforms

CEP Growth

Nick Bloom webpage

John Van reenen webpage



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

WMOT Roots Radio

Should you work from home?

Stanford Graduate School of Business professor Nicholas Bloom said in a TED talk earlier this year that requiring employees to be in the office is an outdated tradition that doesn’t take into account all the technology we have available to us nor the complicated lives we lead today.

 


Related Links:
WMOT Roots Radio - Should you work from home?

Does Working from Home Work? Evidence from a Chinese Experiment

Working or shirking?

CEP Growth

Nick Bloom webpage



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

Openbroadcast.de (Germany)

HUAWEI study shows how intelligent the human brain really is

Paul Dolan, a professor at the Institute of Social Policy at the London School of Economics and Political Science, said: "The results are truly intriguing and show that the mind processes many things automatically, in parallel, and often unconsciously, and it shows the amazing power and potential. Both the human brain and artificial intelligence


Related Links:
Openbroadcast.de (Germany) - HUAWEI study shows how intelligent the human brain really is

CEP Wellbeing

Paul Dolan webpage



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

Fortune.com

American inventors are mostly white men due to opportunity gaps, says Stanford ‘Lost Einsteins’ study

There’s a lot of inequality affecting where innovation comes from, according to a new study from the Equality of Opportunity Project. “There are very large gaps in innovation by income, race, and gender,” Stanford economist Raj Chetty, who led the research, told The Atlantic. “These gaps don’t seem to be about differences in ability to innovate — they seem directly related to environment.” Chetty, who appeared on Fortune’s 40 Under 40 list in 2014, worked with Alex Bell of Harvard, Xavier Jaravel of the London School of Economics, Neviana Petkova of the U.S. Treasury Department, and John Van Reener of MIT to link together millions of anonymized tax records, patents, and test scores in order to create a sample of 1.2 million inventors to study.

Related publications

‘Who becomes an inventor in America? The importance of exposure to innovation’, Alex Bell, Raj Chetty, Xavier Jaravel, Neviano Petkova and John Van Reenen, The Equality of Opportunity Project, December 2017

http://www.equality-of-opportunity.org/assets/documents/inventors_paper.pdf


Related Links:
Fortune.com - American inventors are mostly white men due to opportunity gaps, says Stanford ‘Lost Einsteins’ study

CEP Growth

John Van reenen webpage



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

Centre for Vocational Education Research (CVER)

Apprenticeship and automotive skills: the UK, Germany and Spain compared

CVER's Hilary Steedman and colleagues have been looking at training in one area of the automotive sector.  Car Service is central to the supply chain of the wider automotive sector, identified as a leading performer in the UK government’s 2017 Industrial Strategy. We asked Car Service employers in Germany, UK and Spain about skill shortages and their experience of training apprentices in the workplace. Car Service technicians are trained in apprenticeship in Germany and the UK. The UK Advanced Apprenticeship and German 3-year Apprenticeship aim for a similar set of standards. In Spain, technicians are trained in full-time College courses which include a short period of work experience. In all three countries most firms are small. Using both case study and survey evidence we found that German and UK firms report high levels of satisfaction with apprentices’ practical and theoretical skills. Spanish firms found that the short work placement did not develop the practical competences needed but used the work placement to screen trainees for employment.

Related publications

‘Building apprentices’ skills in the workplace: Car Service in Germany, the UK and Spain’, by Philipp Grollmann, Hilary Steedman, Anika Jansen and Robert Gray", CVER Research Paper 011, December 2017

http://cver.lse.ac.uk/publications/default.asp

Related links

Hilary Steedman webpage:  http://cver.lse.ac.uk/about/Expert_Advisors.asp#Steedman


Related Links:
Centre for Vocational Education Research (CVER) - Apprenticeship and automotive skills: the UK, Germany and Spain compared

CEP CVER



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

Mail Online

Focus on phonics sees reading standards rise to the best in a generation as schools minister hails controversial education reforms

Previously children were taught using a 'look and say' method, where they were shown words until they could regonise them. However, teaching reading using sounds rather than individual letters has been found to be far more effective by researchers at the London School of Economics (LSE). Young pupils from poorer backgrounds and those whose first language is not English have both been found to advance quicker using synthetic phonics. An assessment of more than 270,000 children by LSE's Centre for Economic Performance, last year, discovered that those who were learning phonetically had developed far better by age seven than those using traditional methods.


Related Links:
Mail Online - Focus on phonics sees reading standards rise to the best in a generation as schools minister hails controversial education reforms

"Teaching to Teach" Literacy

CEP Education and Skills

Stephen Machin webpage

Sandra Mcnally webpage



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

Guardian

‘Drill and kill’? English schools turn to scripted lessons to raise standards

Other structured programmes are also showing success with under-performing pupils. A large-scale study by the LSE on synthetic phonics lessons found that while they did not improve the reading score of the average child over time, they did help those who were at risk.


Related Links:
Guardian - ‘Drill and kill’? English schools turn to scripted lessons to raise standards

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

CEP Education and Skills

Stephen Machin webpage

Sandra Mcnally webpage



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

Huffington Post

Britain needs to truly understand the coming robot revolution

Research from Graetz and Michaels using data from the International Federation of Robotics found that the use of robots within manufacturing raised the annual growth of productivity and GDP by 0.36 and 0.37 percentage points between 1993 and 2007, which represents 10% of total GDP growth in the countries studied and 16% of productivity growth. To put that in context, the report says that the “robotics have of late increased productivity by about 0.35% annually — or by about the same amount as did the steam engine, a classic example of a GPT, during the years 1850 to 1910”. The clear answer we should take from this is that automation and robotics is good for productivity growth and can help the UK economy grow, so we would be silly not to take advantage of automation in our industries.


Related Links:
Huffington Post - Britain needs to truly understand the coming robot revolution

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: 04/12/2017      [Back to the Top]

The Atlantic

America’s lost Einsteins

The discrepancy in who gets patents is not the result of innate abilities, Chetty and his team, Alex Bell of Harvard, Xavier Jaravel of the London School of Economics, Neviana Petkova of the U.S. Treasury Department, and John Van Reenen of MIT, conclude. Children from many different backgrounds excel in math and science tests in third grade, for instance. But it’s the wealthy children who do well in math and science that end up getting patents. Why? Because they have more exposure to innovation in their childhood, the researchers say. This exposure comes mostly from interacting with people who are themselves inventors. If young kids know people who are inventors, or hear conversations at the dinner table about research and innovation, they’re more likely to become interested in pursuing careers in that field, Chetty told me. “Opportunity broadly, and exposure to innovation in particular, are really the keys to increasing innovation,” he said.


Related Links:
The Atlantic - America’s lost Einsteins

CEP Growth

John Van reenen webpage



News Posted: 04/12/2017      [Back to the Top]

Moody’s Analytics – Economy.com

Social capital matters

New research from Raj Chetty and his Equality of Opportunity team shows a significant amount of inequality in innovation. Even controlling for ability, their results show that there is less patenting from low-income families, women and minorities. If these groups invented at the same rate as white men, total innovation in the U.S. would quadruple. This research adds to an increasing body of evidence that social capital is an important driver of inequality. The focus on innovation brings a new level importance to the debate; it suggests that uneven social capital and the inequality it produces matter for economic growth.

Related publications

‘Who becomes an inventor in America? The importance of exposure to innovation’, Alex Bell, Raj Chetty, Xavier Jaravel, Neviano Petkova and John Van Reenen, The Equality of Opportunity Project, December 2017

http://www.equality-of-opportunity.org/assets/documents/inventors_paper.pdf


Related Links:
Moody’s Analytics – Economy.com - Social capital matters

CEP Growth

John Van reenen webpage



News Posted: 04/12/2017      [Back to the Top]

Tvzvezda.ru (Russia)

по Brexit/May and Junker could not agree on Brexit

Article by Thomas Sampson, Dennis Novy, Holger Breinlich and Elsa Leromain

Most economists believe that Brexit will be bad for the UK economy in the long-run. But what about the short-term? How has the referendum affected households in the first year since the vote? Last week, UK in a Changing Europe published the first detailed research on the observed economic consequences of voting to leave the EU. The main finding was that the Brexit vote had reduced living standards by driving up inflation and reducing real wage growth. The costs are evenly shared across the income distribution, but not all regions suffer equally. London is the least affected, while Scotland, Wales and Northern Ireland lose the most.


Related Links:
Tvzvezda.ru (Russia) - по Brexit/May and Junker could not agree on Brexit

The Brexit Vote, Inflation and UK Living Standards

CEP Trade

Holger Breinlich webpage

Elsa Leromain webpage

Dennis Novy webpage

Thomas Sampson webpage



News Posted: 04/12/2017      [Back to the Top]

Vox

Groundbreaking empirical research shows where innovation really comes from

The study, undertaken by Chetty along with Alex Ball of Harvard, Xavier Jaravel of the London School of Economics, Neviana Petkova of the US Treasury, and John Van Reenen of MIT, is unique due to its ability


Related Links:
Vox - Groundbreaking empirical research shows where innovation really comes from

CEP Growth

John Van reenen webpage



News Posted: 04/12/2017      [Back to the Top]

Polit.ru (Russia)

Technological progress is a devourer of jobs?

An important study on panel data for 14 branches of seventeen countries for the period 1993-2007. was recently carried out by G. Graetz and G. Michaels (Graetz, Michaels, 2015). They demonstrated that at the sectoral level, the use of robots sharply increases the growth rate of added value (moving from the lower to the upper decile in terms of robotization provides 0.37 percentage points of its additional growth annually), as well as the growth rates of labor productivity and wages, but It does not adversely affect the number of hours worked.


Related Links:
Polit.ru (Russia) - Technological progress is a devourer of jobs?

Robots at work: the impact on productivity and jobs

Robots at Work

CEP Labour Markets

Georg Graetz webpage

Guy Michaels webpage



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

New York Times

Lost Einsteins: the innovations we’re missing

…For this reason, societies have a big interest in making sure that as many people as possible have the opportunity to become scientists, inventors and entrepreneurs. It’s not only a matter of fairness. Denying opportunities to talented people can end up hurting everyone. … The researchers worked with the Treasury Department to link the tax records with patent records. Doing so allowed them to study the backgrounds of patent holders (and the study focused on the most highly cited, significant patents). The researchers — [Raj] Chetty, Alex Bell, Xavier Jaravel, Neviana Petkova and John Van Reenen — were also able to link these records to elementary-school test scores for some patent holders. Not surprisingly, children who excelled in math were far more likely to become inventors. But being a math standout wasn’t enough. Only the top students who also came from high-income families had a decent chance to become an inventor.

 

Related publications

‘Who becomes an inventor in America?  The importance of exposure to innovation: Executive Summary’, Alex Bell, Raj Chetty, Xavier Jaravel, Neviana Petkova and John Van Reenen, The Equality of Opportunity Project, December 2017

http://www.equality-of-opportunity.org/assets/documents/inventors_summary.pdf


Related Links:
New York Times - Lost Einsteins: the innovations we’re missing

CEP Growth

John Van reenen webpage



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

ITV television

Peston on Sunday

Our final #GeekoftheWeek goes to Henry Overman with his NIESR chart looking at the local economic impact of Brexit.


Related Links:
ITV television - Peston on Sunday

The Local Economic Effects of Brexit

CEP Urban and Spatial Programme

Henry Overman webpage



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

Business Daily

Open door policy could raise Nairobi’s status as African economic hub

In a paper title Brexit and the Impact of Immigration on the UK by Jonathan Wadsworth, Swati Dhingra, Gianmarco Ottaviano and John Van Reenen, the writers reveal that European Union (EU) immigration has tripled in numbers in the last 20 years. In 2015, there were around 3.3 million EU immigrants living in the UK up form 0.9 million in 1995. Around 2.5 million of these immigrants are aged between 16-64 and about two million are productively working.


Related Links:
Business Daily - Open door policy could raise Nairobi’s status as African economic hub

Brexit and the Impact of Immigration on the UK

CEP Labour Markets CEP Trade CEP Growth

Jonathan Wadsworth webpage

Swati Dhingra webpage

Gianmarco Ottaviano webpage

John Van reenen webpage



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

PBOil&Gas

HRIQ: Oil and gas technology and labor

A study by Graetz and Michaels found that the impact of industrial robots should boost pay for highly skilled workers while reducing pay for workers with low to medium skills.


Related Links:
Robots at work: the impact on productivity and jobs

Robots at Work

CEP Labour Markets

Georg Graetz webpage

Guy Michaels webpage



News Posted: 01/12/2017      [Back to the Top]

LSE Business Review blog

If we want to create jobs in local areas, the idea of ‘local’ needs to be revisited

New job openings attract not only local workers, but also those living relatively near, write Alan Manning and Barbara Petrongolo.  Place-based policies that target disadvantaged areas are widespread in both high-income and developing countries. Their impact depends crucially on the effective size of local labour markets. If labour markets are very local, an effective intervention needs to be targeted to the disadvantaged areas themselves and more distant interventions will not benefit the target group. If labour markets are not as local, targeted intervention is ineffective as it may simply benefit workers from other, more advantaged areas. A broader question concerns the incidence of local shocks to labour demand and their impact on labour mobility.

Related publications

How Local Are Labor Markets? Evidence from a Spatial Job Search Model, Alan Manning and Barbara Petrongolo, American Economic Journal, Volume 107(10)October 2017

http://pubs.aeaweb.org/doi/pdfplus/10.1257/aer.20131026 ; DOI: 10.1257/aer.20131026


Related Links:
LSE Business Review blog - If we want to create jobs in local areas, the idea of ‘local’ needs to be revisited

How Local Are Labour Markets? Evidence from a Spatial Job Search Model

CEP Community CEP Labour Markets

Alan Manning webpage

Barbara Petrongolo webpage



News Posted: 01/12/2017      [Back to the Top]

Solihull News

We're £800 a year worse off thanks to Brexit, report says

...[Thomas] Sampson, who coauthored the Centre for Economic Performance research, said: "Even ...


Related Links:
Solihull News - We're £800 a year worse off thanks to Brexit, report says

CEP Trade

Thomas Sampson webpage



News Posted: 01/12/2017      [Back to the Top]

The Street

Britain’s opposition leader says Labour Party a ‘threat’ to investment banks

The London School of Economics' Centre for Economic Performance and Centre for Cities estimates the British capital could lose as much as £18 billion in annual revenue and as many as 30,000 jobs, a figure that EY suggests could rise to 83,000 in a worst-case "Hard Brexit" scenario


Related Links:
The Street - Britain’s opposition leader says Labour Party a ‘threat’ to investment banks

The Local Economic Effects of Brexit

CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 01/12/2017      [Back to the Top]

LSE Business Review blog

If we want to create jobs in local areas, the idea of ‘local’ needs to be revisited

New job openings attract not only local workers, but also those living relatively near, write Alan Manning and Barbara Petrongolo.....

Related publications

"How Local Are Labor Markets? Evidence from a Spatial Job Search Model", American Economic Journal. Alan Manning, Barbara Petrongolo, October 2017

https://www.aeaweb.org/articles?id=10.1257/aer.20131026

 

Related Links:
LSE Business Review blog - If we want to create jobs in local areas, the idea of ‘local’ needs to be revisited

CEP Community CEP Labour Markets

Alan Manning webpage

Barbara Petrongolo webpage



News Posted: 01/12/2017      [Back to the Top]

The National (Scotland)

Sturgeon to set out new lifeline to keep Scotland in single market

A major research study in October warned Scotland would suffer a “devastating” Brexit bombshell with its towns and cities losing nearly £30 billion as a result of the UK leaving the EU without a deal.   The analysis suggested every part of Scotland and the UK as a whole would be affected by a soft Brexit, which would retain access to the single market during a transition period, according to the London School of Economics (LSE).


Related Links:
The National (Scotland) - Sturgeon to set out new lifeline to keep Scotland in single market

The Local Economic Effects of Brexit

CEP Labour Markets CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 01/12/2017      [Back to the Top]

Ekklesia

Disadvantaged young people less likely to start best apprenticeships

Disadvantaged young people are substantially less likely than their better-off peers to start the best apprenticeships, according to new research published by the Sutton Trust. Just  seven per cent of young men and 11 percent  of young women who were eligible for free school meals take up an apprenticeship at Level 3– A-level standard – much less than 14 per cent in the cohort as a whole. Better Apprenticeships draws on research by teams from the Centre for Vocational Education Research at LSE and UCL Institute of Education to analyse the current state of play for apprenticeships in England. The Sutton Trust wants to see any young person who starts on a level 2 apprenticeship – GCSE standard – automatically progressing to level 3. It also wants to ensure that all apprenticeships are of high quality, with many more higher and degree level apprenticeships available for young people.

 

Related publications

"Apprenticeships for Young People in England: Is there a Payoff?" by Chiara Cavaglia, Sandra McNally, and Guglielmo Ventura, CVER Research Paper 010 (November 2017) is available at http://cver.lse.ac.uk/publications/default.asp
This paper is part of the "Better Apprenticeships" project, funded by the Sutton Trust https://www.suttontrust.com/research-paper/better-apprenticeships/ 


Related Links:
Ekklesia - Disadvantaged young people less likely to start best apprenticeships

CEP CVER

Chiara Cavaglia webpage

Sandra Mcnally webpage

Guglielmo Ventura webpage



News Posted: 01/12/2017      [Back to the Top]

The Journal (Newcastle Upon Tyne)

Best apprenticeships 'less likely to go to poorer youngsters'

Coverage of apprenticeships research.

Related publications

"Apprenticeships for Young People in England: Is there a Payoff?" by Chiara Cavaglia, Sandra McNally, and Guglielmo Ventura, CVER Research Paper 010 (November 2017) is available at http://cver.lse.ac.uk/publications/default.asp
This paper is part of the "Better Apprenticeships" project, funded by the Sutton Trust https://www.suttontrust.com/research-paper/better-apprenticeships/ 


Related Links:
The Journal (Newcastle Upon Tyne) - Best apprenticeships 'less likely to go to poorer youngsters'

CEP CVER

Chiara Cavaglia webpage

Sandra Mcnally webpage

Guglielmo Ventura webpage



News Posted: 01/12/2017      [Back to the Top]

Twitter

Peston on Sunday‏ : @pestononsunday

How will your local area be affected by #Brexit? Our final #GeekoftheWeek goes to @HenryOverman with his @NIESRorg chart looking at the local economic impact of Brexit.

 

Peston on Sunday Retweeted

Heather Rolfe‏ @Heather_Rolfe Dec 3

.@henryoverman wins #Peston geek of the week award for research on regional #Brexit impacts! See the paper here.....https://twitter.com/NIESRorg/status/936866274151424000 …


Related Links:
Twitter - Peston on Sunday‏ : @pestononsunday

The Local Economic Effects of Brexit

CEP Urban and Spatial Programme

Henry Overman webpage



News Posted: 30/11/2017      [Back to the Top]

Centre for Cities

City Talks: If we build it, will they come?

Andrew Carter talks to Bridget Rosewell and Henry Overman about the merits of big infrastructure projects.  In this month’s episode, our chief executive Andrew Carter talks with Bridget Rosewell, Commissioner of the National Infrastructure Commisssion, and Henry Overman, Professor of Economic Geography at LSE, about the role of infrastructure in supporting economic growth and jobs across the country.


Related Links:
Centre for Cities - City Talks: If we build it, will they come?

CEP Urban and Spatial Programme

Henry Overman webpage



News Posted: 30/11/2017      [Back to the Top]

El Mundo (Spain)

Salud mental infantil:avances en un terreno (casi) inhóspito/Children's mental health: progress in a (almost) inhospitable terrain

Finally, he claimed the promotion of prevention and stressed, as pointed out by a report of the London School of Economics that every euro of investment in preventing mental health reverts to 18 euros in society

Related links

Mental Health Research webpage:  http://cep.lse.ac.uk/_new/research/Wellbeing/mental_health.asp


Related Links:
El Mundo (Spain) - Salud mental infantil:avances en un terreno (casi) inhóspito/Children's mental health: progress in a (almost) inhospitable terrain

CEP Wellbeing

Richard Layard webpage



News Posted: 30/11/2017      [Back to the Top]

UCU.org.uk (University and College Union)

UCU response to Sutton Trust apprenticeship report

Responding to the Sutton Trust's 'Better Apprenticeships' report, UCU general secretary, Sally Hunt, said: 'It's increasingly clear that the government's pursuit of its three million apprenticeship target is coming at the expense of quality and choice within the system, and that this is having a real impact on outcomes for young people in particular. 'Instead of a one-size-fits-all approach which incentivises businesses to push existing employees into apprenticeships, the government should expand the apprenticeship levy to include other forms of high-quality workforce training. 'Most importantly, we urgently need the long-awaited careers strategy to ensure that learners of all ages are well supported to understand their options and progress in their learning.' 

Related publications

"Apprenticeships for Young People in England: Is there a Payoff?" by Chiara Cavaglia, Sandra McNally, and Guglielmo Ventura, CVER Research Paper 010 (November 2017) is available at http://cver.lse.ac.uk/publications/default.asp


This paper is part of the "Better Apprenticeships" project, funded by the Sutton Trust https://www.suttontrust.com/research-paper/better-apprenticeships/ 


Related Links:
UCU.org.uk (University and College Union) - UCU response to Sutton Trust apprenticeship report

CEP CVER

Chiara Cavaglia webpage

Sandra Mcnally webpage

Guglielmo Ventura webpage



News Posted: 30/11/2017      [Back to the Top]

Morning Star

EMPLOYMENT. Poor young adults shut off from best apprenticeships

Young people from disadvantaged backgrounds are less likely to start the best apprenticeships than their well-off peers, a new report has found.

Related publications

"Apprenticeships for Young People in England: Is there a Payoff?" by Chiara Cavaglia, Sandra McNally, and Guglielmo Ventura, CVER Research Paper 010 (November 2017) is available at http://cver.lse.ac.uk/publications/default.asp
This paper is part of the "Better Apprenticeships" project, funded by the Sutton Trust https://www.suttontrust.com/research-paper/better-apprenticeships/ 


Related Links:
Morning Star - EMPLOYMENT. Poor young adults shut off from best apprenticeships

CEP CVER

Chiara Cavaglia webpage

Sandra Mcnally webpage

Guglielmo Ventura webpage



News Posted: 30/11/2017      [Back to the Top]

The Times online (News)

Middle-class teenagers hoovering up best

Responding to the Sutton Trust's 'Better Apprenticeships' report, UCU general secretary, Sally Hunt, said: 'It's increasingly clear that the government's pursuit of its three million apprenticeship target is coming at the expense of quality and choice within the system, and that this is having a real impact on outcomes for young people in particular. 'Instead of a one-size-fits-all approach which incentivises businesses to push existing employees into apprenticeships, the government should expand the apprenticeship levy to include other forms of high-quality workforce training. 'Most importantly, we urgently need the long-awaited careers strategy to ensure that learners of all ages are well supported to understand their options and progress in their learning.' 

Related publications

"Apprenticeships for Young People in England: Is there a Payoff?" by Chiara Cavaglia, Sandra McNally, and Guglielmo Ventura, CVER Research Paper 010 (November 2017) is available at http://cver.lse.ac.uk/publications/default.asp
This paper is part of the "Better Apprenticeships" project, funded by the Sutton Trust https://www.suttontrust.com/research-paper/better-apprenticeships/ 


Related Links:
The Times online (News) - Middle-class teenagers hoovering up best

CEP CVER

Chiara Cavaglia webpage

Sandra Mcnally webpage

Guglielmo Ventura webpage



News Posted: 30/11/2017      [Back to the Top]

Prospect magazine

More apprenticeships is a good thing - but it's time to look at the quality

As our latest research shows, disadvantaged young people are less likely to enter the best apprenticeships than their better-off peers. We’ve also found concerning gender gaps, with female apprentices concentrated in sectors with low earnings after completion. These inequities need to be addressed, with better guidance for all young people. This should emphasise the benefits of apprenticeships and should be communicated more widely in schools. The Sutton Trust will be campaigning through 2018 so that in future anyone completing level two should automatically progress to level three, unless they opt out. The focus on apprenticeship starts rather than overall apprentice numbers, and quality, in the government target does a disservice to young people at present.

Related publications

"Apprenticeships for Young People in England: Is there a Payoff?" by Chiara Cavaglia, Sandra McNally, and Guglielmo Ventura, CVER Research Paper 010 (November 2017) is available at http://cver.lse.ac.uk/publications/default.asp
This paper is part of the "Better Apprenticeships" project, funded by the Sutton Trust https://www.suttontrust.com/research-paper/better-apprenticeships/ 

 


Related Links:
Prospect magazine - More apprenticeships is a good thing - but it's time to look at the quality

CEP CVER

Chiara Cavaglia webpage

Sandra Mcnally webpage

Guglielmo Ventura webpage



News Posted: 30/11/2017      [Back to the Top]

The Sutton Trust

Better apprenticeships - Sutton Trust

Better Apprenticeships draws on research by teams from the UCL Institute of Education and the Centre for Vocational Education Research at LSE to analyse the current state of play for apprenticeships in England. ‘Apprenticeship quality and social mobility’, authored by Alison Fuller & Laura Unwin from the UCL Institute of Education, analyses whether sufficient quality indicators are in place to facilitate social mobility for young people (aged 16-24) through apprenticeships. It also provides an analytical framework to support quality improvement through a more ‘expansive’ approach. This is followed by ‘Apprenticeships for young people in England: Is there a payoff?’, from the LSE Centre for Vocational Education Research, which draws on a new analysis that tracks 565,000 young people age 16 to 28, examining inequities in access and labour market outcomes. Authored by Chiara Cavaglia, Sandra McNally and Guglielmo Ventura, the report asks whether there is an earnings differential from starting an apprenticeship for young people, whilst looking closely at the stark gender difference in earnings payoffs.

Related publications

"Apprenticeships for Young People in England: Is there a Payoff?" by Chiara Cavaglia, Sandra McNally, and Guglielmo Ventura, CVER Research Paper 010 (November 2017) is available at http://cver.lse.ac.uk/publications/default.asp
This paper is part of the "Better Apprenticeships" project, funded by the Sutton Trust https://www.suttontrust.com/research-paper/better-apprenticeships/ 


Related Links:
The Sutton Trust - Better apprenticeships - Sutton Trust

CEP CVER

Chiara Cavaglia webpage

Sandra Mcnally webpage

Guglielmo Ventura webpage



News Posted: 30/11/2017      [Back to the Top]

Centre for Vocational Education (CVER) blog

Do apprenticeships pay?

With the proposed increase in the number of apprenticeships, CVER's Chiara Cavaglia, with Sandra McNally and Guglilmo Ventura, discuss the potential payoffs of starting an apprenticeship.

Related publications

"Apprenticeships for Young People in England: Is there a Payoff?" by Chiara Cavaglia, Sandra McNally, and Guglielmo Ventura, CVER Research Paper 010 (November 2017) is available at http://cver.lse.ac.uk/publications/default.asp
This paper is part of the "Better Apprenticeships" project, funded by the Sutton Trust https://www.suttontrust.com/research-paper/better-apprenticeships/ 


Related Links:
Centre for Vocational Education (CVER) blog - Do apprenticeships pay?

CEP CVER

Chiara Cavaglia webpage

Sandra Mcnally webpage

Guglielmo Ventura webpage



News Posted: 30/11/2017      [Back to the Top]

FE Week

Apprenticeships must not accredit existing knowledge

....And then, among apprenticeships for young people, 60 per cent of places are at intermediate level. New analysis by Sandra McNally for today’s report, of the experience of those aged 16 in 2003 who subsequently embarked on apprenticeships, suggests that fewer than one in four of those who start a level 2 apprenticeship progress to level 3....

Related Publications

"Better Apprenticeships – Access, quality and labour market outcomes in the English apprenticeship system", Alison Fuller, Chiara Cavaglia, Guglielmo Ventura, Lorna Unwin, Sandra McNally. The Sutton Trust, November 2017. https://www.suttontrust.com/wp-content/uploads/2017/11/Better-Apprenticeships-1.pdf

CVER Research Paper,”Apprenticeships for Young People in England: Is there a Payoff?” Chiara Cavaglia, Sandra McNally and Guglielmo Ventura, November 2017. Paper No' CVERDP010 http://cver.lse.ac.uk/textonly/cver/pubs/cverdp010.pdf

 


Related Links:
FE Week - Apprenticeships must not accredit existing knowledge

CEP CVER CEP Education and Skills

Chiara Cavaglia webpage

Guglielmo Ventura webpage

Sandra Mcnally webpage



News Posted: 30/11/2017      [Back to the Top]

Insider.co.uk

Disadvantaged youngsters 'less likely to start the best apprenticeships'

"Disadvantaged youngsters are less likely than their better-off peers to start the best apprenticeships, a new study reveals.

Research published by the Sutton Trust showed that seven per cent of young men and 11 per cent of young women who were eligible for free school meals take up a Higher-standard apprenticeship, compared to 14 per cent as a whole.

..The research was conducted by the Centre for Vocational Education Research at LSE and UCL Institute of Education."

Related Publications

"Better Apprenticeships – Access, quality and labour market outcomes in the English apprenticeship system", Alison Fuller, Chiara Cavaglia, Guglielmo Ventura, Lorna Unwin, Sandra McNally. The Sutton Trust, November 2017.

https://www.suttontrust.com/wp-content/uploads/2017/11/Better-Apprenticeships-1.pdf

CVER Research Paper,”Apprenticeships for Young People in England: Is there a Payoff?” Chiara Cavaglia, Sandra McNally and Guglielmo Ventura, November 2017. Paper No' CVERDP010 http://cver.lse.ac.uk/textonly/cver/pubs/cverdp010.pdf


Related Links:
Insider.co.uk - Disadvantaged youngsters 'less likely to start the best apprenticeships'

CEP CVER CEP Education and Skills

Chiara Cavaglia webpage

Guglielmo Ventura webpage

Sandra Mcnally webpage



News Posted: 30/11/2017      [Back to the Top]

FE Week

Two thirds of apprenticeships ‘convert’ existing employees, report warns

"Two thirds of apprenticeships are merely “converting” existing employees and could be certifying existing skills, rather than focusing on expanding expertise, a new report has warned.

Researchers recommend that Ofsted inspections should check that these existing employees being converted into apprentices are actually learning new skills.

‘Better apprenticeships’, by social mobility foundation the Sutton Trust, looked at whether apprenticeships are of a high-enough quality to boost the life chances of young people aged 16 to 24."

Related Publications

"Better Apprenticeships – Access, quality and labour market outcomes in the English apprenticeship system", Alison Fuller, Chiara Cavaglia, Guglielmo Ventura, Lorna Unwin, Sandra McNally. The Sutton Trust, November 2017.

https://www.suttontrust.com/wp-content/uploads/2017/11/Better-Apprenticeships-1.pdf

CVER Research Paper,”Apprenticeships for Young People in England: Is there a Payoff?” Chiara Cavaglia, Sandra McNally and Guglielmo Ventura, November 2017. No' CVERDP010 http://cver.lse.ac.uk/textonly/cver/pubs/cverdp010.pdf

 


Related Links:
FE Week - Two thirds of apprenticeships ‘convert’ existing employees, report warns

CEP CVER CEP Education and Skills

Chiara Cavaglia webpage

Sandra Mcnally webpage

Guglielmo Ventura webpage



News Posted: 30/11/2017      [Back to the Top]

TES (online)

Many apprentices 'treading water', warns Sutton Trust

The segmentation of apprenticeship by level puts an artificial break on progression, according to a new report commissioned by the Sutton Trust.

The report, entitled Better Apprenticeships – Access, quality and labour market outcomes in the English apprenticeship system, published today, concludes that there is "no expectation that apprenticeship will enable progression to the next occupational or educational level".

Related publications

" Better Apprenticeships – Access, quality and labour market outcomes in the English apprenticeship system", Alison Fuller, Chiara Cavaglia, Guglielmo Ventura, Lorna Unwin, Sandra McNally. The Sutton Trust, November 2017. 

https://www.suttontrust.com/wp-content/uploads/2017/11/Better-Apprenticeships-1.pdf

CVER Research Paper,”Apprenticeships for Young People in England: Is there a Payoff?” Chiara Cavaglia, Sandra McNally and Guglielmo Ventura, November 2017. No' CVERDP010 http://cver.lse.ac.uk/textonly/cver/pubs/cverdp010.pdf

 


Related Links:
TES (online) - Many apprentices 'treading water', warns Sutton Trust

CEP CVER CEP Education and Skills

Chiara Cavaglia webpage

Guglielmo Ventura webpage

Sandra Mcnally webpage



News Posted: 30/11/2017      [Back to the Top]

Freakonomics Podcast

Are we running out of ideas? - Freakonomics

Economists have a hard time explaining why productivity growth has been shrinking. One theory: true innovation has gotten much harder – and much more expensive. So what should we do next?

John VAN REENEN: Yeah. I know whenever I go to parties and people ask me, “What you do?” and I say “I am an economist,” they say, “What do you study?” I say “productivity.” And they usually walk off at that point.


Related Links:
Freakonomics Podcast - Are we running out of ideas? - Freakonomics

CEP Growth

Nick Bloom webpage

John Van reenen webpage



News Posted: 29/11/2017      [Back to the Top]

Independent

Brexit has lost UK economy £300m per week since EU referendum result, analysis finds

A report by the London School of Economics’ Centre for Economics Performance earlier this month estimated that the Brexit-related spike in inflation in the UK had already cost the average UK household around £400 a year.


Related Links:
Independent - Brexit has lost UK economy £300m per week since EU referendum result, analysis finds

The Brexit Vote, Inflation and UK Living Standards

CEP Trade

Holger Breinlich webpage

Elsa Leromain webpage

Dennis Novy webpage

Thomas Sampson webpage



News Posted: 29/11/2017      [Back to the Top]

Get Surrey

Reigate & Mole Valley 'will be hit harder by Brexit than almost anywhere in the UK, study suggests

The report defines a hard Brexit as being on World Trade Organisation (WTO) tariffs with no customs union, and a soft Brexit with the UK staying in a form of customs union and tariffs remaining at zero with a reduced economic impact. LSE researcher Nikhil Datta, part of the team that produced the paper, said: "In both Reigate and Banstead and the Mole Valley the key industries for output are services and highly skilled industry, advertising, media, marketing, technical engineering firms, builders, architecture and consultancy.


Related Links:
Get Surrey - Reigate & Mole Valley 'will be hit harder by Brexit than almost anywhere in the UK, study suggests

The Local Economic Effects of Brexit

CEP Trade CEP Labour Markets

Nikhil Datta webpage



News Posted: 29/11/2017      [Back to the Top]

The Property Chronicle

Stamp duty, mobility and the housing crisis

Article by Christian Hilber and Teemu Lyytikainen

How replacing stamp duty with better-designed local taxes could alleviate the crisis of housing availability.  The SDLT (commonly labelled ‘stamp duty’) has long been criticised by economists as being inefficient. The central case against it is that it hampers household mobility.

Related publications

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

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

‘Transfer Taxes and Household Mobility: Distortion on the Housing or Labor Market?’, Christian Hilber and Teemu Lyytikäinen, Journal of Urban Economics 101, September 2017

https://www.sciencedirect.com/science/article/pii/S0094119017300542


Related Links:
The Property Chronicle - Stamp duty, mobility and the housing crisis

Stamp duty, mobility and the UK housing crisis

CEP Urban and Spatial Programme

Christian Hilber webpage



News Posted: 28/11/2017      [Back to the Top]

NIESR blog

Industrial strategy should include more support for retraining and upskilling

When the Industrial Strategy was up for consultation earlier in the year, my colleagues in the Centre for Vocational Education Research (CVER) and I emphasised the importance of well-targeted Active Labour Market Policies (ALMP) to help with the re-training and upskilling in an economy increasingly affected by structural changes.

Related links

CVER Response to BEIS Green Paper - Building our Industrial Strategy

Link to consultation  | Link to written CVER response (April 2017)


Related Links:
NIESR blog - Industrial strategy should include more support for retraining and upskilling

CEP CVER

Sandra Mcnally webpage



News Posted: 28/11/2017      [Back to the Top]

House of Lords

Debate on lifelong learning

The work of the Centre for Vocational Education Research was referred to by Lord Bhattacharyya (Lab) who is Professor of Manufacturing, Director and Chairman at the Warwick Manufacturing Group at Warwick University. Lord Bhattacharyya's contribution to the debate spoke of research that shows that the percentage of adult employees in learning or training has been falling since the millennium.


Related Links:
House of Lords - Debate on lifelong learning

CEP CVER



News Posted: 27/11/2017      [Back to the Top]

CEP mentioned in the Budget Resolutions Debate

CEPresearch was used in the post budget debate by MPs.

  • Alison Thewliss MP (SNP), Shadow SNP spokesman for Cities and Treasury referred to the recent CEP report The Brexit Vote, Inflation and UK Living Standards estimate "that the average household has lost £7.74 per week because of the higher prices in shopping baskets".
  • Ian Blackford MP (SNP) mentioned the recent CEP report on the impact of Brexit on local areas that saw Scotland losing up to £30 billion over five years.

Related Links:
CEP mentioned in the Budget Resolutions Debate - CEPresearch was used in the post budget debate by MPs.

The Brexit Vote, Inflation and UK Living Standards

CEP Trade

Holger Breinlich webpage

Elsa Leromain webpage

Dennis Novy webpage

Thomas Sampson webpage



News Posted: 27/11/2017      [Back to the Top]

CAPX

Brexit is already costing Britain

Article by Thomas Sampson et al

Most economists believe that Brexit will be bad for the UK economy in the long-run. But what about the short-term? How has the referendum affected households in the first year since the vote?

Last week, UK in a Changing Europe published the first detailed research on the observed economic consequences of voting to leave the EU.


Related Links:
CAPX - Brexit is already costing Britain

The Brexit Vote, Inflation and UK Living Standards

CEP Trade

Holger Breinlich webpage

Elsa Leromain webpage

Dennis Novy webpage

Thomas Sampson webpage



News Posted: 27/11/2017      [Back to the Top]

NIESR Blog

The local economic impacts of Brexit

Article by Henry Overman

Much has been written about the impact that Brexit might have on the national economy. We know far less about how that impact might vary across the UK. In a recent paper published in the National Institute Economic Review , myself and colleagues at the Centre for Economic Performance (Swati Dhingra and Steve Machin) provide some preliminary answers. The research looks at the difference in predicted effects across all Local Authority Areas under a 'soft' and a 'hard' Brexit scenario (the former involves zero tariffs, but increased non-tariff barriers with the EU, the latter involves non-zero tariffs and even higher non-tariff barriers). It also provides some initial analysis on whether these predicted impacts are likely to exacerbate or alleviate existing disparities and looks at how the predicted economic impacts of Brexit correlate with voting patterns from the referendum.


Related Links:
NIESR Blog - The local economic impacts of Brexit

The Local Economic Effects of Brexit

CEP Trade CEP Labour Markets CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 27/11/2017      [Back to the Top]

De Welt

Britische Regionen fordern Brexit-Extrawürste

However, the regions that are now calling for special rules do not belong to those parts of the country that Brexit is likely to hit particularly hard economically. According to calculations by economists at the London School of Economics, London and the southeast, and some districts in the East Midlands, are likely to suffer from the EU exit. There, the forecasts point to particularly strong losses in economic growth. Even after the financial crisis, it became clear that London and the South were hit hardest by the consequences, explains Swati Dhingra, one of the authors of the study. However, thanks to their economic power, these regions would have recovered much more quickly. As an all-clear she does not want to know that understood. Overall, the consequences of Brexit are negative for the whole country.


Related Links:
De Welt - Britische Regionen fordern Brexit-Extrawürste

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Henry Overman webpage

Stephen Machin webpage



News Posted: 27/11/2017      [Back to the Top]

Sydsvenskan (Sweden)

Debate Post: "Why is mental ill health and not poverty the main reason for a bad life?"

Richard Layard and his co-workers wanted to know how much money the British government has to allocate to reduce mental illness, physical ill health, unemployment and poverty. They concluded that the cheapest is to deal with mental ill health; about eighteen times more cost-effective than an effort to reduce poverty, in terms of reducing suffering and increasing life's happiness.


Related Links:
Sydsvenskan (Sweden) - Debate Post: "Why is mental ill health and not poverty the main reason for a bad life?"

CEP Wellbeing

Richard Layard webpage



News Posted: 26/11/2017      [Back to the Top]

Sydsvenskan (Sweden)

Debate Post: "Why is mental ill health and not poverty the main reason for a bad life?"

Richard Layard and his co-workers wanted to know how much money the British government has to allocate to reduce mental illness, physical ill health, unemployment and poverty. They concluded that the cheapest is to deal with mental ill health; about eighteen times more cost-effective than an effort to reduce poverty, in terms of reducing suffering and increasing life's happiness.


Related Links:
Sydsvenskan (Sweden) - Debate Post: "Why is mental ill health and not poverty the main reason for a bad life?"

CEP Wellbeing

Richard Layard webpage



News Posted: 26/11/2017      [Back to the Top]

Pakistan Today

Change course or risk Brexit chaos, Ireland warns Theresa May

The latest work by economists at the London School of Economics estimates that, if the UK crashes out of the EU with no deal, the impact will be far more severe than the projections in the budget suggested. Thomas Sampson of the LSE’s Centre for Economic Performance said Brexit could reduce UK living standards by up to 9 per cent in the most pessimistic case.


Related Links:
Pakistan Today - Change course or risk Brexit chaos, Ireland warns Theresa May

The Brexit Vote, Inflation and UK Living Standards

CEP Trade

Thomas Sampson webpage



News Posted: 26/11/2017      [Back to the Top]

Birmingham Evening Mail

We’re £800 a year worse off thanks to Brexit, report says

Dr Thomas Sampson, who co-authored the Centre for Economic Performance research, said: "Even before Brexit occurs, the increase in inflation caused by the Leave vote has already hurt UK households.


Related Links:
Birmingham Evening Mail - We’re £800 a year worse off thanks to Brexit, report says

The Brexit Vote, Inflation and UK Living Standards

CEP Trade

Holger Breinlich webpage

Elsa Leromain webpage

Dennis Novy webpage

Thomas Sampson webpage



News Posted: 25/11/2017      [Back to the Top]

Guardian

Irish warn Theresa May: change course or risk Brexit chaos

Government sources said ministers would this week release sections of assessments into the potential economic impact of Brexit carried out across Whitehall, which until recently they had tried to keep secret. Many MPs believe the published sections will be heavily redacted and will not make clear the extent of potential economic damage. Last night Nicky Morgan, who chairs the Treasury select committee, said it was essential that as many projections as possible were made public. The latest work by economists at the London School of Economics estimates that, if the UK crashes out of the EU with no deal, the impact will be far more severe than the projections in the budget suggested. Thomas Sampson of the LSE’s Centre for Economic Performance said Brexit could reduce UK living standards by up to 9% in the most pessimistic case.


Related Links:
Guardian - Irish warn Theresa May: change course or risk Brexit chaos

The Brexit Vote, Inflation and UK Living Standards

CEP Trade

Thomas Sampson webpage



News Posted: 25/11/2017      [Back to the Top]

ZDF.de (Germany)

Stellenabbau: Viele Sorgen, wenig Optimismus/Job cuts: many worries, little optimism


Related Links:
ZDF.de (Germany) - Stellenabbau: Viele Sorgen, wenig Optimismus/Job cuts: many worries, little optimism

CEP Trade

Thomas Sampson webpage



News Posted: 24/11/2017      [Back to the Top]

HispanTV.com

Brexit: United Kingdom undergoes its lowest growth in 5 years

Growth largely rested on household spending. The companies, influenced by the uncertainty created by the Brexit - exit of the United Kingdom of the European Union (EU) -, invested cautiously while clearing unknowns. With inflation skyrocketing, spending has become a painful reality, explains Dennis Novy, a researcher at the Center for Economic Performance in London.


Related Links:
HispanTV.com - Brexit: United Kingdom undergoes its lowest growth in 5 years

CEP Trade

Dennis Novy webpage



News Posted: 24/11/2017      [Back to the Top]

Sputnik News (Russia)

Revenues of the British fell after Brexit and shrink still

According to the Center for Economic Performance Research Center (CEP), one of the main consequences of the vote on leaving the European Union was a marked decrease in the quality of life of British subjects. After the referendum, the annual income was reduced by 448 pounds sterling - this is almost a week's salary of an ordinary employee


Related Links:
Sputnik News (Russia) - Revenues of the British fell after Brexit and shrink still

The Brexit Vote, Inflation and UK Living Standards

CEP Trade

Holger Breinlich webpage

Elsa Leromain webpage

Dennis Novy webpage

Thomas Sampson webpage



News Posted: 24/11/2017      [Back to the Top]

De Welt (Germany)

Britische Regionen fordern Brexit-Extrawürste

However, the regions that are now calling for special rules do not belong to those parts of the country that Brexit is likely to hit particularly hard economically. According to calculations by economists at the London School of Economics, London and the southeast, and some districts in the East Midlands, are likely to suffer from the EU exit. There, the forecasts point to particularly strong losses in economic growth. Even after the financial crisis, it became clear that London and the South were hit hardest by the consequences, explains Swati Dhingra, one of the authors of the study. However, thanks to their economic power, these regions would have recovered much more quickly. As an all-clear she does not want to know that understood. Overall, the consequences of Brexit are negative for the whole country.


Related Links:
De Welt (Germany) - Britische Regionen fordern Brexit-Extrawürste

The Local Economic Effects of Brexit

CEP Trade CEP Labour Markets CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 24/11/2017      [Back to the Top]

The Denver Post

The moral urgency of mental health

If we can prevent great suffering at no cost to ourselves, we ought to do so. That principle is widely accepted and difficult to dispute. Yet Western governments are neglecting an opportunity to reduce the great misery caused by mental illness, even though the net cost would be nil. The evidence for this claim comes from recent research by a team of economists at the London School of Economics. The team, directed by Richard Layard, drew on data from four major developed countries (Australia, Britain, Germany, and the United States) in which people were asked to indicate, on a 0-10 scale, how satisfied they were with their life.

Related article: ‘Origins of happiness: Evidence and policy implications’, Andrew Clark, Sarah Fleche, Richard Layard, Nattavudh Powdthavee and George Ward, Vox blog article, 12 December 2016 http://voxeu.org/article/origins-happiness

 


Related Links:
The Denver Post - The moral urgency of mental health

CEP Wellbeing

Andrew Clark webpage

Sarah Flèche webpage

Nattavudh Powdthavee webpage

Richard Layard webpage

George Ward webpage



News Posted: 24/11/2017      [Back to the Top]

ZDF.de (Germany)

Stellenabbau: Viele Sorgen, wenig Optimismus/Job cuts: many worries, little optimism

How many jobs are being lost in the UK due to the relocation of businesses is still unclear. Estimates range from 30,000 to 200,000. The Bank of England's most recent forecast, according to the BBC, is the withdrawal of 75,000 jobs should the Brexit negotiations run out without a deal for the financial sector. "There is still time until the end of this year, by which time contingency plans will be further refined, but until the beginning of next year, if there is no clarity on the outcome of the negotiations, banks will begin to implement their plans and create more jobs other EU countries are relocating, "says Dr. Thomas Sampson.


Related Links:
ZDF.de (Germany) - Stellenabbau: Viele Sorgen, wenig Optimismus/Job cuts: many worries, little optimism

CEP Trade

Thomas Sampson webpage



News Posted: 24/11/2017      [Back to the Top]

Sputnik News (Russia)

Revenues of the British fell after Brexit and shrink still

According to the Center for Economic Performance Research Center (CEP), one of the main consequences of the vote on leaving the European Union was a marked decrease in the quality of life of British subjects. After the referendum, the annual income was reduced by 448 pounds sterling - this is almost a week's salary of an ordinary employee.

.


Related Links:
Sputnik News (Russia) - Revenues of the British fell after Brexit and shrink still

The Brexit Vote, Inflation and UK Living Standards

CEP Trade

Holger Breinlich webpage

Elsa Leromain webpage

Thomas Sampson webpage

Dennis Novy webpage



News Posted: 24/11/2017      [Back to the Top]

NewsR.in (India)

UK economy: moderate growth but inflation remains high

Right now, the British people are already paying money. Every time they go shopping, because prices have gone up, they actually can buy less with their money said Dennis Novy, research fellow at the Center for Economic Performance, London School of Economics and Political Science. And that is the cost.


Related Links:
NewsR.in (India) - UK economy: moderate growth but inflation remains high

The Brexit Vote, Inflation and UK Living Standards

CEP Trade

Dennis Novy webpage



News Posted: 24/11/2017      [Back to the Top]

Gloucester Live

Move over London – Gloucester ranked in the UK’s top 10 most productive and entrepreneurial business areas

Post Budget analysis has focused on the UK's productivity woes - but a UK-wide report singles out Gloucester as a hotbed of entrepreneurial business growth and talent way ahead of the Capital. … The researchers reference a report - The Great Divergence(s), by Giuseppe Berlingieri, Patrick Blanchenay and Chiara Criscuolo. The upshot of which is this – businesses which don’t pay their staff as much as other firms in the same sector are less productive. Wages have remained generally stagnant since the economic crash and productivity a growing issue. Could there be a link one wonders.


Related Links:
Gloucester Live - Move over London – Gloucester ranked in the UK’s top 10 most productive and entrepreneurial business areas

The growing inequality between firms

The Great Divergence(s)

CEP Trade

Giuseppe Berlingieri webpage



News Posted: 24/11/2017      [Back to the Top]

Premium Official News

New study reveals hit to living standards from Brexit

... according to new analysis from the Centre for Economic Performance (CEP) at the London  ...


Related Links:
Premium Official News - New study reveals hit to living standards from Brexit

The Brexit Vote, Inflation and UK Living Standards

CEP Trade

Holger Breinlich webpage

Elsa Leromain webpage

Dennis Novy webpage

Thomas Sampson webpage



News Posted: 24/11/2017      [Back to the Top]

The UK in a Changing Europe Newsletter

Brexit squeeze

In the first detailed statistical analysis of how the referendum outcome has affected UK inflation, wages and living standards Thomas Sampson and his team show UK households are paying a high economic price for the vote to leave the European Union. Read their report here. It was featured in The TimesIndependent, Sky News, and Evening Standard.

Related article

‘New evidence shows UK households paying high economic price for vote to leave EU’, The UK in a Changing Europe article, 20 November 2017

http://ukandeu.cmail20.com/t/ViewEmail/r/453FB334F61029762540EF23F30FEDED/D213F45C003418194BD7C9066BE4161D


Related Links:
The UK in a Changing Europe Newsletter - Brexit squeeze

The Brexit Vote, Inflation and UK Living Standards

CEP Trade

Holger Breinlich webpage

Elsa Leromain webpage

Dennis Novy webpage

Thomas Sampson webpage



News Posted: 24/11/2017      [Back to the Top]

LSE Business Review blog

Budget 2017: productivity is the focus, but ‘fixes’ are unlikely to be enough

The danger is not making a real difference to productivity when the country needs it the most, writes Anna Valero

Budget 2017 began with a bleak assessment of the UK’s growth prospects. For those of us following the economic trends and policy debate, there was little surprise at the downgrade of future productivity growth by the Office for Budget Responsibility. Productivity has flat-lined since the financial crisis as successive budgets have failed to have much discernible effect on the key issues of underinvestment in innovation, skills and infrastructure. This has long been a concern because without productivity growth, living standards will continue to suffer and public services will continue to be squeezed. In addition, there is the uncertainty surrounding Brexit, which has already had a damaging impact on living standards, and which poses a number of economic risks depending on the form it ultimately takes. Some of the costs of Brexit are short-term – for example, the costs of formulating new customs or regulatory arrangements (for which the Chancellor has put aside a further £3 billion), or the losses of trade that would be associated with increasing trade barriers. But from a productivity perspective, we must be mindful of the longer-term impacts of reduced trade, inward investment and access to international talent on.

Related publications

‘Family policies, the allocation of talent, productivity and growth’, Oriana Bandiera and Anna Valero, LSE mimeo

http://media.wix.com/ugd/997323_42b65c9b27f1456fb185dfdbd9846de0.pdf


Related Links:
LSE Business Review blog - Budget 2017: productivity is the focus, but ‘fixes’ are unlikely to be enough

The Brexit Vote, Inflation and UK Living Standards

Industry in Britain - An Atlas

Towards a new UK industrial strategy

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

Firm Size Distortions and the Productivity Distribution: Evidence from France

CEP Growth

Anna Valero webpage



News Posted: 24/11/2017      [Back to the Top]

Eldiario.es (Spain)

The moral urgency of mental health

In support of this statement we can mention a recent investigation by a team of economists from the London School of Economics, directed by Richard Layard. The researchers analyzed data from surveys conducted in four major developed countries (Germany, Australia, the United States and Great Britain) where respondents were asked to rate on a scale of 0 to 10 the degree of satisfaction with their lives.


Related Links:
Eldiario.es (Spain) - The moral urgency of mental health

The Key Determinants of Happiness and Misery

CEP Wellbeing

Richard Layard webpage

Andrew Clark webpage

Sarah Flèche webpage

Nattavudh Powdthavee webpage

George Ward webpage



News Posted: 23/11/2017      [Back to the Top]

Zarojel.hu (Hungary)

British workers have already paid weekly for Brexit

In the referendum on British EU membership last June, a small, 51.9 percent majority of the participants voted out. The study, published on Monday by the prestigious London Economics University at London School of Economics, Center for Economic Performance (CEP), used different model calculations during its investigation. They pointed out how unexpected market and real economic shocks caused last year's referendum. The sudden weakening of the pound resulted in a cumulative inflation acceleration of 1.7 percentage points in the year following the referendum by June 2017. This 17 percent increase compared to the rate that would have been expected without this shock in the same period.


Related Links:
Zarojel.hu (Hungary) - British workers have already paid weekly for Brexit

The Brexit Vote, Inflation and UK Living Standards

CEP Trade

Holger Breinlich webpage

Elsa Leromain webpage

Dennis Novy webpage

Thomas Sampson webpage



News Posted: 23/11/2017      [Back to the Top]

Financial Mail

DINNER PARTY INTEL: Tencent takes on the world

In the referendum on British EU membership last June, a small, 51.9 percent majority of the participants voted out. The study, published on Monday by the prestigious London Economics University at London School of Economics, Center for Economic Performance (CEP), used different model calculations during its investigation. They pointed out how unexpected market and real economic shocks caused last year's referendum. The sudden weakening of the pound resulted in a cumulative inflation acceleration of 1.7 percentage points in the year following the referendum by June 2017. This 17 percent increase compared to the rate that would have been expected without this shock in the same period.


Related Links:
Financial Mail - DINNER PARTY INTEL: Tencent takes on the world

The Brexit Vote, Inflation and UK Living Standards

CEP Trade

Holger Breinlich webpage

Elsa Leromain webpage

Dennis Novy webpage

Thomas Sampson webpage



News Posted: 23/11/2017      [Back to the Top]

EuroNews (Hungary)

Price of brexit: shrinking growth, rising inflation

The British already pay the price of brexit - explains Dennis Novy, an economics researcher at the London School of Economics and Political Science. - Every single shopping gets less and less money for their money. This is the price of the exit. It is distributed equally, but it affects everyone. Adding a substantial amount. The Brits are already paying for brexit, even though it has not yet occurred.


Related Links:
EuroNews (Hungary) - Price of brexit: shrinking growth, rising inflation

CEP Trade

Dennis Novy webpage



News Posted: 23/11/2017      [Back to the Top]

Zarojel.hu (Hungary)

British workers have already paid weekly for Brexit

In the referendum on British EU membership last June, a small, 51.9 percent majority of the participants voted out. The study, published on Monday by the prestigious London Economics University at London School of Economics, Center for Economic Performance (CEP), used different model calculations during its investigation. They pointed out how unexpected market and real economic shocks caused last year's referendum. The sudden weakening of the pound resulted in a cumulative inflation acceleration of 1.7 percentage points in the year following the referendum by June 2017. This 17 percent increase compared to the rate that would have been expected without this shock in the same period.


Related Links:
Zarojel.hu (Hungary) - British workers have already paid weekly for Brexit

The Brexit Vote, Inflation and UK Living Standards

CEP Trade

Dennis Novy webpage

Elsa Leromain webpage

Thomas Sampson webpage

Holger Breinlich webpage



News Posted: 23/11/2017      [Back to the Top]

Financial Mail

DINNER PARTY INTEL: Tencent takes on the world

3. Britons begin to feel the Brexit pinch - EU and Union flags fly above Parliament Square in central London, Britain. UK households are more than £400/year worse off as a result of Brexit-induced inflation. A report by the Centre for Economic Performance says that even before Brexit occurs, the increase in inflation caused by the 2016 vote to leave the EU has already hurt households. The largest inflationary effects have been on products that are typically imported. An alternative calculation of the loss suggests higher inflation has reduced the real wage of the average worker by about £448, the equivalent of one week’s pay.


Related Links:
Financial Mail - DINNER PARTY INTEL: Tencent takes on the world

The Brexit Vote, Inflation and UK Living Standards

CEP Trade

Holger Breinlich webpage

Dennis Novy webpage

Elsa Leromain webpage

Thomas Sampson webpage



News Posted: 23/11/2017      [Back to the Top]

CCTV Mandarin News

News

Dennis Novy interviewed by Chinese television on CEP Brexit analysis research into how much Brexit is already costing UK households.


Related Links:
CCTV Mandarin News - News

The Brexit Vote, Inflation and UK Living Standards

CEP Trade

Dennis Novy webpage



News Posted: 23/11/2017      [Back to the Top]

Les Echos (France)

L'argent ne fait-il vraiment pas le bonheur?/Money does not really make happiness ?

In 2005, another Richard, the delicious British baron Layard, explained that "when a country has more than $ 15,000 per capita, its level of happiness seems independent of its per capita income. What is the point of claiming a higher salary if it is only to consume or save more without becoming happier?

Related publications

Happiness: Lessons from a New Science, Richard Layard, Penguin Books, 2005 ISBN 0 1410 1690

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


Related Links:
Les Echos (France) - L'argent ne fait-il vraiment pas le bonheur?/Money does not really make happiness ?

CEP Wellbeing

Richard Layard webpage



News Posted: 23/11/2017      [Back to the Top]

Australian Financial Review online

Oxford sued by student who didn’t get 1st class degree

But graduates with first-class degrees are more likely than those with a 2:1 to work in high-wage industries – and they earn starting salaries that are about 3 per cent higher, according to research published by the London School of Economics in 2013.


Related Links:
Australian Financial Review online - Oxford sued by student who didn’t get 1st class degree

In brief: University exam results matter

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

CEP Labour Markets

Georg Graetz webpage



News Posted: 23/11/2017      [Back to the Top]

The Conversation (blog)

No, we aren’t running out of new ideas

We’ve picked all the low hanging fruit when it comes to new ideas, and the world is set for more parsimonious times. This is the idea put forward in a recent research paper by Nicholas Bloom, John Van Reenen and their co-authors. The paper argues that productivity growth has been low or declining since the 1940s, despite an increase in the number of researchers. The idea is that a rising number of researchers should lead to an acceleration of productivity. A proven good idea can potentially be applied to the whole production system and so a rise in researchers should increase this effect. This message should be taken seriously but not simplistically.

Also in:

Phys Org

No, we aren’t running out of new ideas

https://phys.org/news/2017-11-ideas.html

&

Friday 24 November

Swinburne University of Technology News online

No, we aren’t running out of new ideas

http://www.swinburne.edu.au/news/latest-news/2017/11/no-we-arent-running-out-of-new-ideas.php


Related Links:
The Conversation (blog) - No, we aren’t running out of new ideas

Are Ideas Getting Harder to Find?

CEP Growth

Nick Bloom webpage

John Van reenen webpage



News Posted: 23/11/2017      [Back to the Top]

eGospodarka.pl (Poland)

How will the trade ban on the economy affect the economy?

Traf also said that in 2015, one of the most comprehensive studies on the impact of Sunday trade on the European economy was published, published by the London Center for Economic Performance (CEP), a research center of the London School of Economics (LSE). The authors of Christos Genakos and Svetoslav Danchev examined the countries where retail conditions were relaxed on the last day of the week, with four aspects: sales volume, market concentration, employment and prices.


Related Links:
eGospodarka.pl (Poland) - How will the trade ban on the economy affect the economy?

Evaluating the Impact of Sunday Trading Deregulation

CEP Growth

Christos Genakos webpage



News Posted: 23/11/2017      [Back to the Top]

Iran Daily

Statistics report shows Brexit’s influence on inflation in UK

A statistical analysis on the consequences of the Brexit vote in the United Kingdom was released on Monday, showing how the referendum outcome has affected inflation and living standards of people across the country. The report, “The Brexit Vote, Inflation and UK Living Standards,” was issued by the Center for Economic Performance under London School of Economics and Political Science, presstv.ir reported.


Related Links:
Iran Daily - Statistics report shows Brexit’s influence on inflation in UK

The Brexit Vote, Inflation and UK Living Standards

CEP Trade

Holger Breinlich webpage

Elsa Leromain webpage

Dennis Novy webpage

Thomas Sampson webpage



News Posted: 23/11/2017      [Back to the Top]

EuroNews

UK economy: moderate growth but inflation remains high

UK economy: Britain is on course for its longest fall in living standards since records began, with wages not returning to their pre-financial crisis levels until at least 2025. … “Right now, the British people are already paying money. Every time they go shopping, because prices have gone up, they actually can buy less with their money.” said Dennis Novy, research fellow at the Center for Economic Performance, London School of Economics and Political Science. “And that is the cost. It’s very evenly distributed, it affects pretty much every single person in the entire country.” “But it actually adds up to a lot of money, so the British people are already paying for Brexit, even though Brexit hasn’t even happened yet.”

Also in:

Monday 27 November

Thai News Service

United Kingdom: UK economy – moderate growth but inflation remains high

[No link available]

Sunday 26 November

Mubasher

UK sees slower growth, higher inflation

[No link available]


Related Links:
EuroNews - UK economy: moderate growth but inflation remains high

CEP Trade

Dennis Novy webpage



News Posted: 23/11/2017      [Back to the Top]

FE Week

Hammond, take care where you sprinkle the skills cash

Article by Sandra McNally

With the UK’s poor economic forecast doing few favours to the skills budget, government must ensure it’s putting money into policies that will actually raise overall productivity, argues Sandra McNally.


Related Links:
FE Week - Hammond, take care where you sprinkle the skills cash

CEP Education and Skills CEP CVER

Sandra Mcnally webpage



News Posted: 23/11/2017      [Back to the Top]

Rosbalt.ru (Russia)

British authorities have reserved another 3 billion pounds for planning Brexit

Recently, the Center for Economic Performance (CEP), a local research center, recently released a survey according to which every British family, on average, loses 400 pounds sterling per year due to Brexit.


Related Links:
Rosbalt.ru (Russia) - British authorities have reserved another 3 billion pounds for planning Brexit

The Brexit Vote, Inflation and UK Living Standards

CEP Trade

Holger Breinlich webpage

Elsa Leromain webpage

Dennis Novy webpage

Thomas Sampson webpage



News Posted: 22/11/2017      [Back to the Top]

Rosbalt.ru (Russia)

British authorities have reserved another 3 billion pounds for planning Brexit

Recently, the Center for Economic Performance (CEP), a local research center, recently released a survey according to which every British family, on average, loses 400 pounds sterling per year due to Brexit.


Related Links:
Rosbalt.ru (Russia) - British authorities have reserved another 3 billion pounds for planning Brexit

The Brexit Vote, Inflation and UK Living Standards

CEP Trade

Holger Breinlich webpage

Dennis Novy webpage

Elsa Leromain webpage

Thomas Sampson webpage



News Posted: 22/11/2017      [Back to the Top]

GQ

Budget 2017: Brexit is the least of Philip Hammond’s worries

“One of the guys who pays my wages has decided he’s pulling investment from the UK,” my private fund manager mate tells me on Sunday as we stand on the touchline, watching our kids play rugby. “It’s very worrying. There’s a lot of anxiety about a negative event coming at us soon. And all the uncertainty about Brexit is making Britain a very unlikely option for investment.” It’s far from anecdotal. The LSE’s Centre for Economic Performance reports that leaving the EU may see a drop in direct foreign investment into Britain of 22 per cent. That will have an immediate knock-on effect, not only to Phil’s spreadsheet, but to the take-home pay of real folk from Sunderland to Surrey. Some Brexit bonus.


Related Links:
GQ - Budget 2017: Brexit is the least of Philip Hammond’s worries

The Brexit Vote, Inflation and UK Living Standards

CEP Trade

Holger Breinlich webpage

Elsa Leromain webpage

Dennis Novy webpage

Thomas Sampson webpage



News Posted: 22/11/2017      [Back to the Top]

The Herald (Scotland)

Beware: Spreadsheet Phil will be flying blind in this Budget

Meanwhile, on the home front consumers have been fighting raging price increases thanks to the collapse in the value of the pound. The average household has lost £404 last year according to the Centre for Economic Performance at the London School of Economics. That’s equivalent to a week’s pay, and more than anyone is likely to gain from today’s Budget tweaks.


Related Links:
The Herald (Scotland) - Beware: Spreadsheet Phil will be flying blind in this Budget

The Brexit Vote, Inflation and UK Living Standards

CEP Trade

Holger Breinlich webpage

Elsa Leromain webpage

Dennis Novy webpage

Thomas Sampson webpage



News Posted: 22/11/2017      [Back to the Top]

Thrive Global

The Thrive Questionnaire: A best-selling author and economist shares his morning routine

Richard Layard on the book that changed his life and the quote that gives him strength

Article by Richard Layard

TG: Share a quote that you love and that gives you strength or peace.

RL: "Lasting happiness starts with one question: What can I celebrate?"

The Thrive Questionnaire is an ongoing series that gives an intimate look inside the lives of some of the world’s most successful people.

https://www.thriveglobal.com/stories/17618-a-best-selling-author-and-economist-shares-his-morning-routine


Related Links:
Thrive Global - The Thrive Questionnaire: A best-selling author and economist shares his morning routine

CEP Wellbeing

Richard Layard webpage



News Posted: 22/11/2017      [Back to the Top]

LSE Brexit blog

UK households are already paying an average of £404pa for Brexit

On 23 June 2016, the UK voted to leave the EU. As soon as the result became clear, sterling depreciated sharply and, since the vote, UK inflation has dramatically increased. How much of the rise in inflation is due to the referendum? Holger Breinlich, Elsa Leromain, Dennis Novy, and Thomas Sampson, (LSE’s Centre for Economic Performance) find that the referendum result pushed up UK inflation by 1.7 percentage points. This amounts to an annual (and potentially permanent) cost of £404 for the average British household. UK households are thus already paying a high economic price for the vote to leave the European Union.


Related Links:
LSE Brexit blog - UK households are already paying an average of £404pa for Brexit

The Brexit Vote, Inflation and UK Living Standards

CEP Trade

Elsa Leromain webpage

Thomas Sampson webpage

Dennis Novy webpage

Holger Breinlich webpage



News Posted: 22/11/2017      [Back to the Top]

LSE News

New study reveals hit to living standards from Brexit

Brexit is already costing the average UK household £7.74 per week or £404 per year, according to new analysis from the Centre for Economic Performance (CEP) at the London School of Economics and Political Science (LSE). The study is the first detailed statistical analysis of how the referendum outcome has affected UK inflation, real wages and living standards.


Related Links:
LSE News - New study reveals hit to living standards from Brexit

The Brexit Vote, Inflation and UK Living Standards

CEP Trade

Thomas Sampson webpage

Holger Breinlich webpage

Elsa Leromain webpage

Dennis Novy webpage



News Posted: 21/11/2017      [Back to the Top]

Hunt Scanlon Media

What makes successful CEOs

New research from Harvard Business Review looks at data from over 1,000 chief executives and the financial performance of their companies to explore what makes CEOs tick. The report was authored by Oriana Bandiera, Stephen Hansen, Andrea Prat and Raffaella Sadun.


Related Links:
Hunt Scanlon Media - What makes successful CEOs

CEP Growth

Raffaella Sadun webpage



News Posted: 21/11/2017      [Back to the Top]

Prospect magazine

More apprenticeships is a good thing—but time to look at the quality

....It is also crucial that the issue of access is tackled. As our latest research shows, disadvantaged young people are less likely to enter the best apprenticeships than their better-off peers. We’ve also found concerning gender gaps, with female apprentices concentrated in sectors with low earnings after completion. These inequities need to be addressed, with better guidance for all young people. This should emphasise the benefits of apprenticeships and should be communicated more widely in schools...

Related Publications

"Better Apprenticeships – Access, quality and labour market outcomes in the English apprenticeship system", Alison Fuller, Chiara Cavaglia, Guglielmo Ventura, Lorna Unwin, Sandra McNally. The Sutton Trust, November 2017.


Related Links:
Prospect magazine - More apprenticeships is a good thing—but time to look at the quality

CEP CVER CEP Education and Skills

Chiara Cavaglia webpage

Guglielmo Ventura webpage

Sandra Mcnally webpage



News Posted: 20/11/2017      [Back to the Top]

Channel 103

Brexit vote 'has made households £400-a-year worse off', say researchers

A report from the Centre for Economic Performance (CEP) says the average household is paying £404-a-year extra on food and household items due to rising prices. After the EU referendum vote, the falling value of the pound in comparison with most other currencies has seen the cost of many imports increased. The CEP, which is based at the London School of Economics (LSE), said the impact of the price increases is equivalent to a £448 cut in annual pay for the average worker – the equivalent of one week’s pay. Dr Thomas Sampson, who co-wrote the research, said: “Even before Brexit occurs, the increase in inflation caused by the Leave vote has already hurt UK households.


Related Links:
Channel 103 - Brexit vote 'has made households £400-a-year worse off', say researchers

The Brexit Vote, Inflation and UK Living Standards

CEP Trade

Holger Breinlich webpage

Elsa Leromain webpage

Dennis Novy webpage

Thomas Sampson webpage



News Posted: 20/11/2017      [Back to the Top]

Bailiwick Express

Households are £852 a year worse off due to Brexit, study finds

Dr Thomas Sampson, who co-authored the Centre for Economic Performance research, said: “Even before Brexit occurs, the increase in inflation caused by the Leave vote has already hurt UK households. “Our results provide compelling evidence that, so far, UK households are paying an economic price for voting to leave the EU.”


Related Links:
Bailiwick Express - Households are £852 a year worse off due to Brexit, study finds

The Brexit Vote, Inflation and UK Living Standards

CEP Trade

Holger Breinlich webpage

Elsa Leromain webpage

Dennis Novy webpage

Thomas Sampson webpage



News Posted: 20/11/2017      [Back to the Top]

Fars News Agency (Tehran)

Research: Brexit costs UK househilds over $500 per year

According to research conducted by the UK-based Centre for Economic Performance "By June 2017, the Brexit vote was costing the average household £7.74 per week through higher prices. That is equivalent to £404 per year", Sputnik reported. According to the research, Brexit negatively affected such indicators as the inflation rate, sterling's exchange rate, as well asthe incomes of UK citizens and their living standards.


Related Links:
Fars News Agency (Tehran) - Research: Brexit costs UK househilds over $500 per year

The Brexit Vote, Inflation and UK Living Standards

CEP Trade

Holger Breinlich webpage

Elsa Leromain webpage

Dennis Novy webpage

Thomas Sampson webpage



News Posted: 20/11/2017      [Back to the Top]

Vox

The consequences of the Brexit vote for UK inflation and living standards: First evidence

Article by Holger Breinlich, Elsa Leromain, Dennis Novy and Thomas Sampson. On 23 June 2016, the UK voted to leave the EU. As soon as the result became clear, sterling depreciated sharply and, since the vote, UK inflation has dramatically increased. This column asks how much of the rise in inflation is due to the referendum. It finds that the referendum result pushed up UK inflation by 1.7 percentage points, which amounts to an annual (and potentially permanent) cost of £404 for the average British household.


Related Links:
Vox - The consequences of the Brexit vote for UK inflation and living standards: First evidence

The Brexit Vote, Inflation and UK Living Standards

CEP Trade

Elsa Leromain webpage

Thomas Sampson webpage

Holger Breinlich webpage

Dennis Novy webpage



News Posted: 20/11/2017      [Back to the Top]

The UK in a Changing Europe blog

New evidence shows UK households paying high economic price for vote to leave EU

The first detailed statistical analysis of how the referendum outcome has affected UK inflation, wages and living standards shows UK households are paying a high economic price for the vote to leave the European Union. The report – ‘The Brexit vote, inflation and UK living standards’, finds Brexit is costing the average household £7.74 per week through higher prices – which is equivalent to £404 a year. Higher inflation has also reduced the growth of real wages. The impact of price increases due to the referendum is equivalent to a £448 cut in annual pay for the average worker. In other words, the Brexit vote has cost the average worker almost one week’s wages.


Related Links:
The UK in a Changing Europe blog - New evidence shows UK households paying high economic price for vote to leave EU

The Brexit Vote, Inflation and UK Living Standards

CEP Trade

Dennis Novy webpage

Holger Breinlich webpage

Elsa Leromain webpage

Thomas Sampson webpage



News Posted: 20/11/2017      [Back to the Top]

The Korea Herald

[Michael Plant, Peter Singer] The moral urgency of mental health

If we can prevent great suffering at no cost to ourselves, we ought to do so. Yet Western governments are neglecting an opportunity to reduce the great misery caused by mental illness, even though the net cost would be nil. The evidence for this claim comes from recent research by a team of economists at the London School of Economics. The team, directed by Richard Layard, drew on data from four major developed countries -- Australia, Britain, Germany, and the United States -- in which people were asked to indicate, on a zero to 10 scale, how satisfied they were with their life.


Related Links:
The Korea Herald - [Michael Plant, Peter Singer] The moral urgency of mental health

The Key Determinants of Happiness and Misery

CEP Wellbeing

Richard Layard webpage

Andrew Clark webpage

Sarah Flèche webpage

Nattavudh Powdthavee webpage

George Ward webpage



News Posted: 19/11/2017      [Back to the Top]

ScienceDirect

‘Larrikin Youth: Crime and Queensland’s Earning or Learning Reform’ Tony Beatton, Michael P. Kidd, Stephen Machin and Dipanwita Sarkar, Labour Economics

DOI: 10.1016/j.labeco.2017.11.003


Related Links:
ScienceDirect - ‘Larrikin Youth: Crime and Queensland’s Earning or Learning Reform’ Tony Beatton, Michael P. Kidd, Stephen Machin and Dipanwita Sarkar, Labour Economics

Larrikin youth: can education cut crime?

Larrikin Youth: New Evidence on Crime and Schooling

CEP Labour Markets CEP Community

Stephen Machin webpage



News Posted: 16/11/2017      [Back to the Top]

Project Syndicate

The moral urgency of mental health

PRINCETON – If we can prevent great suffering at no cost to ourselves, we ought to do so. That principle is widely accepted and difficult to dispute. Yet Western governments are neglecting an opportunity to reduce the great misery caused by mental illness, even though the net cost would be nil. The evidence for this claim comes from recent research by a team of economists at the London School of Economics. The team, directed by Richard Layard, drew on data from four major developed countries (Australia, Britain, Germany, and the United States) in which people were asked to indicate, on a 0-10 scale, how satisfied they were with their life.  Associated Article: 'Origins of Happiness: Evidence and Policy Implications', Andrew Clark, Sarah Fleche, Richard Layard, Nattavudh Powdthavee and George Ward, Vox article published December 2016.


Related Links:
Project Syndicate - The moral urgency of mental health

CEP Wellbeing

Andrew Clark webpage

Sarah Flèche webpage

Richard Layard webpage

Nattavudh Powdthavee webpage

George Ward webpage



News Posted: 15/11/2017      [Back to the Top]

Bloomberg View

Small colleges can save towns in middle America

Other research confirms that the beneficial effect of universities isn't just correlation. A 2015 paper by economist Shimeng Liu found that areas where the U.S. federal government made land grants to universities back in the 1860s have been flourishing in the 21st century. In other words, investing in universities was one of the most far-sighted moves that the government ever made. The effect appears to be worldwide. Looking at countries around the globe in a recent paper, economists Anna Valero and John Van Reenen find: Increases in the number of universities are positively associated with future growth…Doubling the number of universities per capita is associated with over 4% higher future GDP per capita. Furthermore, there appear to be positive spillover effects from universities to geographically close neighboring regions.


Related Links:
Bloomberg View - Small colleges can save towns in middle America

How universities boost economic growth

The Economic Impact of Universities: Evidence from Across the Globe

CEP Growth

Anna Valero webpage

John Van reenen webpage



News Posted: 14/11/2017      [Back to the Top]

News One Place

Child-induced fatigue costs economy dear, says new study

Parents with young children are ‘substantially’ less productive than their colleagues, due to a lack of sleep As every parent of a newborn knows, sleep is a foreign country, a place that they happily visited a long time ago but fear they may now never experience again. The constant disruption to sleep patterns posed by a screaming baby can play havoc with relationships, waistlines and sanity, but it’s also having a deleterious effect on the nation’s finances. Until now. 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:
News One Place - Child-induced fatigue costs economy dear, says new study

Economics of a good night's sleep

Parental Sleep and Employment: Evidence from a British Cohort Study

CEP Wellbeing

Sarah Flèche webpage



News Posted: 14/11/2017      [Back to the Top]

What Works Growth blog

The good news about exports

Article by Henry Overman: With Brexit looming, we’ve been running a series of workshops with local areas to think about different policy responses and consider what the evidence says on effectiveness. One thing that local areas wanted to know was what the evaluation evidence said on export support and inward investment promotion. In response, we’ve surveyed the available evaluations and launched three new toolkits that consider what we can learn. Two of the toolkits look at supporting exports through either export promotion agencies (EPA) or export credit agencies (ECA). The third, looks at inward investment promotion.


Related Links:
What Works Growth blog - The good news about exports

CEP Urban and Spatial Programme CEP Trade

Henry Overman webpage



News Posted: 13/11/2017      [Back to the Top]

Prospect Magazine

The reality of No Deal, part three: chaos at Calais

Article by Thomas Sampson: Why will Brexit cause problems at the border? Let’s start with the basics. The central issue is that currently, goods move freely between the UK and other EU countries. That’s part of being a member state: you get “frictionless trade” with other countries in the bloc. But Brexit will be the end of this. In future, customs checks will be required on UK-EU trade, imposing a new administrative burden on British importers and exporters.


Related Links:
Prospect Magazine - The reality of No Deal, part three: chaos at Calais

CEP Trade

Thomas Sampson webpage



News Posted: 13/11/2017      [Back to the Top]

LSE Business Review blog

Work, joblessness and what they mean for our happiness

Work-life balance, job variety, autonomy and learning new things make us happier at work; blue-collar workers are less happy than others, write Jan-Emmanuel De Neve and George Ward.


Related Links:
LSE Business Review blog - Work, joblessness and what they mean for our happiness

Happiness at work

Happiness at Work

CEP Wellbeing

Jan-Emmanuel De neve webpage

George Ward webpage



News Posted: 13/11/2017      [Back to the Top]

Further Education Week

FE practitioner research movement gathers pace

Two research centres have also been established in recent years, looking specifically at post-16 education and training: the Centre for Vocational Education Research at the London School of Economics, and the Post-14 Education and Work Centre at the University College London Institute of Education, both founded in 2015.


Related Links:
Further Education Week - FE practitioner research movement gathers pace

CEP Education and Skills CEP CVER

Sandra Mcnally webpage



News Posted: 13/11/2017      [Back to the Top]

Financial Times

The great Brexit test begins to unfold

“The inflation figures are the most informative,” says Swati Dhingra, at the Centre for Economic Performance at the London School of Economics. She says the impact of broad uncertainty has been harder to measure. “There is too much lumpiness” in foreign investment figures to learn anything definite.


Related Links:
Financial Times - The great Brexit test begins to unfold

CEP Trade

Swati Dhingra webpage



News Posted: 13/11/2017      [Back to the Top]

LBC Radio

5:45:12 pm

Snippet: ...e Thank you very much Steve France's reporting for us there in Cardiff and serve loaded of the have been in touch about food prices someone texted me to say food has increased by 5% since June 20 16th seed chart to on a London School of Economics Europe blog post so ... Related article: ‘UK inflation has been rising fast since the Brexit vote’, Josh De Lyon, Swati Dhingra and Stephen Machin.  Post on LSE Business Review blog, November 4, 2017


Related Links:
LBC Radio - 5:45:12 pm

In brief ... Brexit: the impact on prices

CEP Trade CEP Labour Markets

Swati Dhingra webpage

Stephen Machin webpage

Josh De lyon webpage



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

Banco Bilbao vizcaya Argentaria

A basic dictionary of blockchain: 10 terms you should know

The strength of the public blockchain networks lies in their 100% democratic nature. Everything is decentralized and all parties have the same information; no one individual is above another. But, as Luis Garicano, professor at the London School of Economics, explained during the recent South Summit in Madrid, that strength harbors an implied weakness. “If everything is decentralized and everyone has to agree with the changes, you won´t be able to change anything, improve anything. And if you centralize in part in order to make changes, you are attacking the very nature of blockchain.”


Related Links:
Banco Bilbao vizcaya Argentaria - A basic dictionary of blockchain: 10 terms you should know

CEP Growth

Luis Garicano webpage



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

The NBER Digest

Bang for the R&D buck is in a long, steady decline

In Are Ideas Getting Harder to Find? (NBER Working Paper No.23782), Nicholas Bloom, Charles I. Jones, John Van Reenen and Michael Webb argue that, to maintain a given rate of economics growth, resources devoted to research must increase over time.


Related Links:
The NBER Digest - Bang for the R&D buck is in a long, steady decline

Are Ideas Getting Harder to Find?

CEP Growth

Nick Bloom webpage

John Van reenen webpage



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

What Works Wellbeing blog

If you want to know how happy we are, ask often

Today we publish a new discussion series paper, that sets out the views of Paul Dolan, Laura Kudrna and Stefano Testoni on the importance of ‘in the moment’ wellbeing and measurement for understanding – and acting on- wellbeing evidence.

Researchers Paul Dolan, Laura Kudrna and Stefano Testoni argue, in their paper Definitions and Measures of Subjective Wellbeing, that to capture what really matters to people, we need to switch from measuring overall life satisfaction, to how we feel in the moment.

Related links

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


Related Links:
What Works Wellbeing blog - If you want to know how happy we are, ask often

CEP Wellbeing

Paul Dolan webpage



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

EuroNews

Trump said America’s economy was better than Japan’s and he was probably right

Is it possible, as Trump’s statement suggests, to compare two countries’ economies and which indicators would we use to do so? GDP per capita is considered a baseline when comparing two economies. Using this measure, Trump’s comments are founded, with the US ahead of Japan in rankings from both the International Monetary Fund (US:11th place, Japan:28th place) and the World Bank (US:9th place, Japan:22nd place). This is, however, a very basic comparison, according to Gianmarco Ottaviano, professor of Economics at the London School of Economics, who told Euronews that a deeper analysis of the two economies would include several indicators including GDP growth, productivity and net export performance, among others.


Related Links:
EuroNews - Trump said America’s economy was better than Japan’s and he was probably right

CEP Trade

Gianmarco Ottaviano webpage



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

The UK in a changing Europe blog

Post-Brexit UK trade policy: still just a wish list

Article by Nikhil Datta and Swati Dhingra

It’s no secret that the UK is deeply integrated into the European Union. About half of its trade and investment is with the EU and, as a member of the single market, the UK implements similar standards for products and services as the EU. Furthermore, as a member of the customs union, the UK operates a common external tariff, and goods and services can move seamlessly with no customs or compliance checks. How the UK exits the EU will therefore have profound impacts on trade, investment and economic growth in the UK.


Related Links:
The UK in a changing Europe blog - Post-Brexit UK trade policy: still just a wish list

CEP Trade

Nikhil Datta webpage

Swati Dhingra webpage



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

Parliament Today

Product Diversification in Indian Manufacturing – discussion paper from the Centre for Economic Performance

The Centre for Economic Performance has published a discussion paper entitled 'Product Diversification in Indian Manufacturing.'The abstract states: The presence of global value chains challenges the neoclassical idea of the firm since it implies firms are not monolithic but are rather interdependent on the larger economic environment. Examining establishments, the smallest units of production within firms, sheds light on the microeconomic incentives determining the location of production and whether a firm produces a good or sources it.


Related Links:
Parliament Today - Product Diversification in Indian Manufacturing – discussion paper from the Centre for Economic Performance

Product Diversification in Indian Manufacturing

CEP Trade

John Morrow webpage

Swati Dhingra webpage



News Posted: 08/11/2017      [Back to the Top]

Arabs Today

UAE has developed world’s first ‘Happiness Policy Manual’

Ohoud bint Khalfan Al Roumi, Minister of State for Happiness and Wellbeing, has affirmed that the UAE’s ‘Happiness Policy Manual’, developed by the National Programme for Happiness and Positivity, is the first instrument of its kind in the world, describing it as a benchmark for government entities to align their policies and ensure they prioritise people’s happiness….The National Programme for Happiness and Positivity organised a workshop for 100 federal policymakers to introduce the Happiness Policy Manual. The workshop included a discussion by Paul Dolan, Professor of Behavioural Science at the London School of Economics, LSE, during which he presented a number of approaches to centre government policies around happiness, illustrating them with examples of success stories that underline the role of behavioural shifts on public satisfaction.


Related Links:
Arabs Today - UAE has developed world’s first ‘Happiness Policy Manual’

CEP Wellbeing

Paul Dolan webpage



News Posted: 08/11/2017      [Back to the Top]

Employee Benefits

Property deposit saving challenge impinging on millennial wealth

According to research from the London School of Economics’ Centre for Economic Performance the average weekly earnings between 2002 and 2008 rose at an average rate of 4% a year and prices at just 2%. However, growth in real wages has become stuck at around 2% since September 2014, with any growth occurring mainly being due to a decrease in price inflation, rather than any significant increases in nominal wage growth.


Related Links:
Employee Benefits - Property deposit saving challenge impinging on millennial wealth

The Return of Falling Real Wages

CEP Labour Markets CEP Education and Skills

Rui Costa webpage

Stephen Machin webpage



News Posted: 08/11/2017      [Back to the Top]

Scottish Energy News

CBI survey shows 98% of British energy firms want post-Brexit investment framework

Meanwhile, the risks of Scotland crashing out of the EU without the UK government securing a deal have been revealed in a damning report by the London School of Economics. Figures show that every single part of Scotland, and of the UK as a whole, will be adversely affected even in the event of a soft Brexit with single market membership maintained. The impact of dropping off a hard Brexit cliff edge would be significantly worse.


Related Links:
Scottish Energy News - CBI survey shows 98% of British energy firms want post-Brexit investment framework

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 08/11/2017      [Back to the Top]

Daily Record and Sunday Mail

Brexit could cost South Lanarkshire £1.3 billion

South Lanarkshire could lose out to the tune of £1.3 billion after Brexit according to statistics from the London School of Economics.


Related Links:
Daily Record and Sunday Mail - Brexit could cost South Lanarkshire £1.3 billion

The Local Economic Effects of Brexit

CEP Trade CEP Labour Markets CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 07/11/2017      [Back to the Top]

LSE Business Review blog

Would you choose to be happy?

People prefer happiness to income, children, career and education, but being healthy trumps it all, writes Paul Dolan.


Related Links:
LSE Business Review blog - Would you choose to be happy?

CEP Wellbeing

Paul Dolan webpage



News Posted: 07/11/2017      [Back to the Top]

LSE Business Review blog

Diamond Light Source and its impact on the UK geographical distribution of science

Article by Christian Helmers and Henry Overman

Big scientific research facilities like the UK’s Diamond Light Source, a third generation synchrotron (circular particle accelerator), benefit scientists located nearby significantly more than scientists located further away. According to our research, the highly localised effects of scientific infrastructure on research productivity extend even to scientists that do not rely on the facilities directly for their work.

Related publications

'In brief... Where top science gets done', Christian Helmers and Henry Overman. Article in CentrePiece Volume 22, Issue 3, Autumn 2017 [http://cep.lse.ac.uk/pubs/download/CentrePiece_22_3.pdf]

My Precious! The Location and Diffusion of Scientific Research: Evidence from the Synchrotron Diamond Light Source, by Christian Helmers and Henry Overman, Economic Journal 127(604): 2006-40

'My Precious! The Location and Diffusion of Scientific Research: Evidence from the Synchrotron Diamond Light Source', Christian Helmers and Henry Overman, SERC/Urban and Spatial Programme Discussion Paper No. 131, March 2013

http://www.spatialeconomics.ac.uk/textonly/SERC/publications/download/sercdp0131.pdf


Related Links:
LSE Business Review blog - Diamond Light Source and its impact on the UK geographical distribution of science

In brief ... Where top science gets done

CEP Urban and Spatial Programme

Henry Overman webpage



News Posted: 07/11/2017      [Back to the Top]

Toquoc.vn (Vietnam)

Translation by the translator Tiet Hung Thai open the door to the world

Tứ Thiện Thái is known as the translator of classic works in the world

Happiness - Lessons from a New Science (By Richard Layard):  The concept of happiness in the past is very voluminous, where the author not only gives definitions of happiness, but also provides empirical evidence to prove his point. The authors of Jeremy Bentham and John Stuart Mill argue that the goal of society should be "to bring the greatest happiness to most people." However, this theory was also criticized by libertarians.


Related Links:
Toquoc.vn (Vietnam) - Translation by the translator Tiet Hung Thai open the door to the world

CEP Wellbeing

Richard Layard webpage



News Posted: 06/11/2017      [Back to the Top]

BBC Parliament

Live House of Commons

Ronnie Cowan, SNP, Inverclyde:  A report from the centre for cities and the Centre for economic performance and the London School of Economics said that all cities would schedule increasing costs, Edinburgh was ranked among the ten most affected cities, connecting HS2 to Scotland must be a priority.


Related Links:
BBC Parliament - Live House of Commons

The Local Economic Effects of Brexit

CEP Trade CEP Labour Markets CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 06/11/2017      [Back to the Top]

LBC Radio

[8:25:22 am]

...Chancellor Philip Hammond is looking to reform the planning system by allowing building on the green belt to help more people possibly young people get on the housing ladder this attempt result the housing crisis and high demand areas this is a story in the Sunday Telegraph yesterday Paul Cheshire Professor of economic geography at the LSE London school of economics we welcome this good morning a winner here I would very much welcome to the first real action to get more houses built.


Related Links:
LBC Radio - [8:25:22 am]

CEP Urban and Spatial Programme

Paul Cheshire webpage



News Posted: 06/11/2017      [Back to the Top]

RIETI

The rise of robots in the German labour market

For our analysis, we exploit the same dataset from the International Federation of Robotics (IFR) that was used by Acemoglu and Restrepo (2016, 2017) and in the pioneering study by Graetz and Michaels (2017).


Related Links:
RIETI - The rise of robots in the German labour market

Robots at work: the impact on productivity and jobs

Robots at Work

CEP Labour Markets

Guy Michaels webpage

Georg Graetz webpage



News Posted: 06/11/2017      [Back to the Top]

LSE Business Review blog

Dark web: The economics of online drugs markets

Article by V. Bhaskar, Robin Linacre and Stephen Machin

Like many other consumer transactions, the buying and selling of drugs are increasingly moving online. This is one very visible dimension of cybercrime – and it has been receiving growing attention from researchers as the online drugs markets have expanded rapidly.

A key feature of online drugs platforms is that they are located on the so-called ‘dark web’, which is accessible via the sophisticated technology of anonymisation software and encryption programs,
and buying and selling transactions
are conducted using the anonymous cryptocurrency, Bitcoin. Our research so far has empirically studied these online drugs platforms by scraping large amounts of data from their websites and by focusing specifically on three economic questions.


Related Links:
LSE Business Review blog - Dark web: The economics of online drugs markets

Dark web: the economics of online drugs markets

The Economic Functioning of Online Drugs Markets

CEP Labour Markets

Stephen Machin webpage



News Posted: 06/11/2017      [Back to the Top]

LSE European Politics and Policy blog

The Brexit vote has caused a significant rise in UK prices, especially food

Article by Josh De Lyon, Swati Dhingra and Stephen Machin

Since Britain’s EU referendum, UK inflation has risen faster than that of the Eurozone. Price rises have varied across sectors, but as Josh De Lyon, Swati Dhingra, and Stephen Machin show, the rise in the growth rate of food prices has been particularly pronounced. As a result, real wage growth in the UK has again turned negative. 

Related publications

In brief ... Brexit: the impact on prices Josh De Lyon, Swati Dhingra and Stephen Machin. Article in CentrePiece Volume 22, Issue 3, Autumn 2017 [http://cep.lse.ac.uk/pubs/download/CentrePiece_22_3.pdf]


Related Links:
LSE European Politics and Policy blog - The Brexit vote has caused a significant rise in UK prices, especially food

CEP Trade CEP Labour Markets

Josh De lyon webpage

Swati Dhingra webpage

Stephen Machin webpage



News Posted: 06/11/2017      [Back to the Top]

LSE Business Review blog

UK inflation has been rising fast since the Brexit vote

Food prices are rising faster, and real wage growth has again turned negative, write Josh De Lyon, Swati Dhingra and Stephen Machin.... Overall, this research points to a significant rise in prices occurring after the EU referendum. Future work that builds on these initial findings will quantify the role of the devaluation of sterling by focusing closely on price changes for imported goods and services.


Related Links:
LSE Business Review blog - UK inflation has been rising fast since the Brexit vote

In brief ... Brexit: the impact on prices

CEP Trade CEP Labour Markets

Josh De lyon webpage

Stephen Machin webpage

Swati Dhingra webpage



News Posted: 04/11/2017      [Back to the Top]

Huffington Post

Wetherspoon's boss 'certain' Brexit can reduce food costs - but vague on his own prices

LSE economist Thomas Sampson viewed Martin’s press release and told HuffPost it had a “partial truth”, as axing the tariffs would make food cheaper but only cheaper than if Britain left the EU and kept them.

Sampson said: “Are food prices lower following Brexit than if we hadn’t voted to leave the EU? That’s where the claim has less to back it up.”


Related Links:
Huffington Post - Wetherspoon's boss 'certain' Brexit can reduce food costs - but vague on his own prices

CEP Trade

Thomas Sampson webpage



News Posted: 04/11/2017      [Back to the Top]

MyJoyOnline

Are the robots coming for our jobs?

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


Related Links:
MyJoyOnline - Are the robots coming for our jobs?

Robots at work: the impact on productivity and jobs

Robots at Work

CEP Labour Markets

Guy Michaels webpage

Georg Graetz webpage



News Posted: 04/11/2017      [Back to the Top]

Business & Financial Times online

Is the future jobless with technology: the robots are coming for our jobs

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


Related Links:
Business & Financial Times online - Is the future jobless with technology: the robots are coming for our jobs

Robots at work: the impact on productivity and jobs

Robots at Work

CEP Labour Markets

Georg Graetz webpage

Guy Michaels webpage



News Posted: 03/11/2017      [Back to the Top]

UK in a Changing EU

Brexit and Trade: Which trade barriers matter for the UK?

With Swati Dhingra, Martin Donnelly and Sam Lowe - Chaired by Soumaya Keynes

Trading places:  #BrexitTrade conference video:

What types of trade barriers are most important for UK firms with an eye to shedding light on priorities for future trade negotiations.

Speakers: Swati Dhingra, The UK in a Changing Europe; Martin Donnelly, formerly Department for International Trade

Chair: Soumaya Keynes, The Economist


Related Links:
UK in a Changing EU - Brexit and Trade: Which trade barriers matter for the UK?

CEP Trade

Swati Dhingra webpage



News Posted: 02/11/2017      [Back to the Top]

Caba.org.uk

Happiness depends on mental health, not money, say economists

According to the Origins of Happiness report, eliminating mental health issues such as depression and anxiety would increase happiness by 20%, whereas eliminating poverty would increase happiness by only 5%. In other words, tackling mental health problems would be 4 times more effective at increasing happiness than reducing poverty. And the best part, say the researchers behind the report is that reducing mental illness doesn't have to cost a penny. Led by top economist Lord Richard Layard, the team of experts at the London School of Economics' Centre for Economic Performance investigated the best ways of achieving happiness, reducing misery and promoting wellbeing.

Associated article

Vox

Origins of happiness: Evidence and policy implications

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


Related Links:
Caba.org.uk - Happiness depends on mental health, not money, say economists

CEP Wellbeing CEP Labour Markets

Andrew Clark webpage

Sarah Flèche webpage

Richard Layard webpage

Nattavudh Powdthavee webpage

George Ward webpage



News Posted: 02/11/2017      [Back to the Top]

The Conversation

Weightlifters and divers offer a lesson for business in risk and reward

In practice, competitors often do not only choose their level of effort; they also have to decide between more or less risky strategies. For example, a pharmaceutical firm that is lagging behind in a patent race may start exploring more risky projects, and a money manager with below-market returns might start investing in riskier assets.  So, colleagues and I looked at top-level weightlifting and diving competitions, including the Olympics, to examine athletes’ choices about effort and risk-taking in a tournament setting, with an eye on whether we could draw any lessons which applied to business.


Related Links:
The Conversation - Weightlifters and divers offer a lesson for business in risk and reward

Weightlifting competitions: lessons for performance management

Weightlifting competitions: lessons for performance management

CEP Growth

Christos Genakos webpage



News Posted: 02/11/2017      [Back to the Top]

The Korea Herald

[Noah Smith] Free college would help the rich more than poor

England, which used to provide tuition-free public universities, switched to a tuition system in 1998, and has raised fees several times since then. Economists Gill Wyness, Richard Murphy and Judith Scott-Clayton studied the impact of getting rid of free college. What they found might prove a shock to Sanders’ supporters


Related Links:
The Korea Herald - [Noah Smith] Free college would help the rich more than poor

The End of Free College in England: Implications for Quality, Enrolments and Equity

CEP Education and Skills

Gill Wyness webpage

Richard Murphy webpage



News Posted: 02/11/2017      [Back to the Top]

The Money Pages

One in four Brits can’t afford to save

Rising inflation combined with flatlining wage growth means that households have seen incomes drop in real terms and are therefore beginning to feel the squeeze of higher prices. Worryingly, UK wages have dropped 5% in real terms since the financial crash, according to the London School of Economics.


Related Links:
The Money Pages - One in four Brits can’t afford to save

Real Wages and Living Standards in the UK

CEP Labour Markets

Rui Costa webpage

Stephen Machin webpage



News Posted: 02/11/2017      [Back to the Top]

Welt

Schon jetzt kostet der Brexit jeden Briten 682 Euro/Already, the Brexit costs every Briton 682 euros

Another study by the institute examining the regional implications of Brexit concludes that the south around London is likely to be hit particularly hard, as well as the region around Manchester and the south of Scotland. These are in each case regions that predominantly voted to remain in the EU. "But we see negative effects everywhere," said economist Swati Dhingra, one of the authors of the study.


Related Links:
Welt - Schon jetzt kostet der Brexit jeden Briten 682 Euro/Already, the Brexit costs every Briton 682 euros

The Local Economic Effects of Brexit

CEP Trade CEP Labour Markets CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 02/11/2017      [Back to the Top]

Daily Telegraph

The headmaster who banned mobile phones…and now wants to bring back textbooks

A growing body of evidence supports Mr Phillips’s stance. Schools where phones are banned saw scores improve 6.4 per cent for 16-year-olds and by 12.2 per cent for lower achieving students, according to a 2015 study by the London School of Economics. 


Related Links:
Daily Telegraph - The headmaster who banned mobile phones…and now wants to bring back textbooks

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

Ill Communication: Technology, Distraction & Student Performance

CEP Education and Skills

Richard Murphy webpage



News Posted: 02/11/2017      [Back to the Top]

Avvenire (Italy)

Breinlich: La recessione à dietro l’angolo/Breinlich: The recession is around the corner

The LSE economist: the cost of leaving the Union will fluctuate between £200 billion a year in the event of a complete breakdown and 20 billion for the softest solution to the Norwegian. There is no doubt about Professor Holger Breinlich, one of the most important international economics experts in the United Kingdom, teaching at the London School of Economics and at the University of Nottingham. "There will be a long transition period of three to four years after March 2019, when Britain will definitively leave the European Union. At that point, the UK's relations with the EU will be governed by a treaty similar to what Europe currently has with Canada, namely a free trade agreement with the elimination of tariffs and other types of barriers. Although it is difficult to read in the future, this with a certain margin of approximation is what I think will happen, "explains the expert. The price to pay, that is, will be greater poverty.


Related Links:
Avvenire (Italy) - Breinlich: La recessione à dietro l’angolo/Breinlich: The recession is around the corner

CEP Trade

Holger Breinlich webpage



News Posted: 02/11/2017      [Back to the Top]

CEP citations

‘The State of Small Business: Putting UK Entrepreneurs on the Map’, NESTA & SAGE Report, November 2017

Berlingieri, G., Blanchenay, P. and Criscuolo, C. The Great Divergence(s): CEP Discussion Paper No 1488. (Centre for Economic Performance, 2017) cited in ‘The State of Small Business: Putting UK Entrepreneurs on the Map’, NESTA & SAGE Report, November 2017


Related Links:
CEP citations - ‘The State of Small Business: Putting UK Entrepreneurs on the Map’, NESTA & SAGE Report, November 2017

CEP Trade

Giuseppe Berlingieri webpage



News Posted: 01/11/2017      [Back to the Top]

Herald and News

There’s a better way to cut costs than the one Sanders is promoting

Economists Gill Wyness, Richard Murphy and Judith Scott-Clayton studied the impact of getting rid of free college. What they found might prove a shock to Sanders supporters: The analysis shows that since the move from a free higher education system to a high-fee, high-aid system, university enrollment has increased substantially, with students from the poorest backgrounds experiencing the fastest increases in participation. Moreover, university funding per head has recovered dramatically since the introduction of fees.


Related Links:
Herald and News - There’s a better way to cut costs than the one Sanders is promoting

The End of Free College in England: Implications for Quality, Enrolments and Equity

CEP Education and Skills

Gill Wyness webpage

Richard Murphy webpage



News Posted: 01/11/2017      [Back to the Top]

The UK in a changing Europe blog

Brexit and the future of globalisation

Article by Thomas Sampson

Since World War II the global economy has become increasingly integrated. Brexit runs counter to this trend and has ignited a debate about the future of the EU and the global economy. In a recent paper I discuss why the UK voted to leave and what this tells us about the future of globalisation. Brexit may prove to be a minor diversion on the path to greater integration, a sign that globalisation has reached its limits, or the start of a new era of protectionism. Which of these eventualities is realised will depend, in part, upon whether leave voters supported Brexit to reclaim sovereignty from the EU or as a protest against their economic and social struggles. We do not yet know the relative importance of these two motivations.


Related Links:
The UK in a changing Europe blog - Brexit and the future of globalisation

CEP Trade

Thomas Sampson webpage



News Posted: 01/11/2017      [Back to the Top]

Vox

The religious roots of the secular West: The Protestant Reformation and the allocation of resources in Europe

Article by Davide Cantoni, Jeremiah Dittmar and Noam Yuchtman. Five hundred years ago today, Martin Luther posted 95 theses on the Wittenberg Castle church door critiquing Catholic Church corruption, setting off the Protestant Reformation. This column argues that the Reformation not only transformed Western Europe's religious landscape, but also led to an immediate and large secularisation of Europe’s political economy.


Related Links:
Vox - The religious roots of the secular West: The Protestant Reformation and the allocation of resources in Europe

Reallocation and Secularization: The Economic Consequences of the Protestant Reformation

CEP Growth CEP Trade

Jeremiah Dittmar webpage



News Posted: 31/10/2017      [Back to the Top]

The Japan Times

Opinion: Free college helps the rich the most

England, which used to provide tuition-free public universities, switched to a tuition system in 1998, and has raised fees several times since then. Economists Gill Wyness, Richard Murphy and Judith Scott-Clayton studied the impact of getting rid of free college. What they found might prove a shock to Sanders supporters: “The analysis shows that since the move from a free higher education system to a high-fee, high-aid system, university enrolment has increased substantially, with students from the poorest backgrounds experiencing the fastest increases in participation. Moreover, university funding per head has recovered dramatically since the introduction of fees.”


Related Links:
The Japan Times - Opinion: Free college helps the rich the most

The End of Free College in England: Implications for Quality, Enrolments and Equity

CEP Education and Skills

Gill Wyness webpage

Richard Murphy webpage



News Posted: 31/10/2017      [Back to the Top]

World Finance

US must tackle growing skills gap

However, not everyone agrees with the rhetoric emerging from the US regarding the failings of its workforce. Alan Manning, Professor of Economics at LSE argues: “The retraining process tends to work best for younger workers, not necessarily for the older demographics of workers.” He agrees that education is hugely important to addressing the skills gap in places like the US and UK, but added that “these are long-standing problems and have always been there”.


Related Links:
World Finance - US must tackle growing skills gap

CEP Community

Alan Manning webpage



News Posted: 31/10/2017      [Back to the Top]

Tech.co

Why working remote can improve employee productivity

One of the most remarkable studies done to measure telecommuters’ performance was conducted by Stanford University. Led by Professor Nicholas Bloom, a team of scholars performed a Work From Home (WFH) experiment in 2012-2013 at CTrip, a NASDAQ-listed Chinese travel agency. The 9-month long study showed a “13 percent increase in the remote workers’ productivity with more time per shift or fewer sick leaves and breaks.”

Related publications

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

in brief…Working or shirking?’, Nicholas Bloom, James Liang, John Roberts and Zhichun Jenny Ying.


Related Links:
Tech.co - Why working remote can improve employee productivity

Does Working from Home Work? Evidence from a Chinese Experiment

CEP Growth

Nick Bloom webpage



News Posted: 31/10/2017      [Back to the Top]

News Shopper

Do mobile phones have a place in the future of education?

Study in 2015 published by the Centre for Economic Performance at the London School of Economics. showed that across multiple schools, when mobile phones were banned, tests scores went up an average of 6.4% in 16 year olds. Even more importantly, this ban helped those who were from the most disadvantaged backgrounds and were doing less well academically. This is evidence that cannot be ignored. 


Related Links:
News Shopper - Do mobile phones have a place in the future of education?

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

Ill Communication: Technology, Distraction & Student Performance

CEP Education and Skills

Richard Murphy webpage



News Posted: 31/10/2017      [Back to the Top]

Helensburgh Advertiser

New figures reveal likely Brexit impact on Argyll and Bute

Research by the London School of Economics forecasts that even in the event of a Brexit transition deal being struck, the Argyll and Bute economy will shrink by 2 per cent.


Related Links:
Helensburgh Advertiser - New figures reveal likely Brexit impact on Argyll and Bute

The Local Economic Effects of Brexit

CEP Trade CEP Labour Markets CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 31/10/2017      [Back to the Top]

Press and Journal (Aberdeen)

Argyll could be £350 million out of pocket as a result of Brexit

Scotland’s Brexit Secretary Mike Russell told the convention that a report out last week revealed a soft exit from the EU would leave the area £150million worse off, while a “hard, no deal Brexit,” would take the figure up to £350million. The report was published by the London School of Economics.


Related Links:
Press and Journal (Aberdeen) - Argyll could be £350 million out of pocket as a result of Brexit

The Local Economic Effects of Brexit

CEP Trade CEP Labour Markets CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 31/10/2017      [Back to the Top]

Jyllands Posten (Denmark)

Eksperter: Globaliseringen har aldrig været en folkefest/Experts: Globalization has never been a people's party

Dennis Novy interviewed on globalisation and Brexit.


Related Links:
Jyllands Posten (Denmark) - Eksperter: Globaliseringen har aldrig været en folkefest/Experts: Globalization has never been a people's party

CEP Trade

Dennis Novy webpage



News Posted: 31/10/2017      [Back to the Top]

Fast Company

How the most (and least) successful CEOs spend their workdays

A group of professors from Harvard Business School, the London School of Economics, Columbia University, and the University of Oxford pondered the same question and conducted a survey of more than 1,000 CEOs in six countries to find out what they’re doing and how that behavior relates to the success or failure of their companies. Their findings were published in the Harvard Business Review. ... “You are more likely to find CEOs that are leaders in larger companies that are more complex,” says study coauthor Raffaella Sadun, associate professor of business administration at Harvard Business School. “Manager CEOs are often found in smaller, simpler organizations.”


Related Links:
Fast Company - How the most (and least) successful CEOs spend their workdays

What Do CEOs Do?

CEP Growth

Raffaella Sadun webpage



News Posted: 30/10/2017      [Back to the Top]

Bloomberg View

Free college would help the rich more than the poor

England, which used to provide tuition-free public universities, switched to a tuition system in 1998, and has raised fees several times since then. Economists Gill Wyness, Richard Murphy and Judith Scott-Clayton studied the impact of getting rid of free college. What they found might prove a shock to Sanders supporters: ‘The analysis shows that since the move from a free higher education system to a high-fee, high-aid system, university enrolment has increased substantially, with students from the poorest backgrounds experiencing the fastest increases in participation. Moreover, university funding per head has recovered dramatically since the introduction of fees.’


Related Links:
Bloomberg View - Free college would help the rich more than the poor

The End of Free College in England: Implications for Quality, Enrolments and Equity

CEP Education and Skills

Gill Wyness webpage

Richard Murphy webpage



News Posted: 30/10/2017      [Back to the Top]

Francetvinfo.fr (France) blog

Universités : et si les étudiants payaient plus?/Universities : what if students pay more?

Yet, according to economists Gill Wyness, Richard Murphy and Judith Scott-Clayton, who have studied this British system, it does not work so badly. The authors focus on three dimensions: the accessibility of studies, inequalities and the quality of education. On the first point, they find that the proportion of an age group entering university has doubled since the reform. For the second, they note that this increased access has mainly benefited children from modest backgrounds. Regarding the quality of education, they find that the average expenditure on students has increased; universities used the extra money they received to improve the training given to students.


Related Links:
Francetvinfo.fr (France) blog - Universités : et si les étudiants payaient plus?/Universities : what if students pay more?

The End of Free College in England: Implications for Quality, Enrolments and Equity

CEP Education and Skills

Gill Wyness webpage

Richard Murphy webpage



News Posted: 30/10/2017      [Back to the Top]

Medicalonline.hu (Hungary)

Gyógyszerek helyett lelki segítség kellene/Instead of medicines, it should be spiritual help

In Great Britain they have chosen a different path. According to Richard Layard's Health Economist Program, with an estimated 12 million jobs, a system has been developed that provides effective and rapid interventions for depressed, anxious patients in order to return to the world of work as soon as possible. For a year, beyond this circle, it is almost certain that psychological illness can be diagnosed.


Related Links:
Medicalonline.hu (Hungary) - Gyógyszerek helyett lelki segítség kellene/Instead of medicines, it should be spiritual help

The Depression Report: A New Deal for Depression and Anxiety Disorders

CEP Wellbeing

Richard Layard webpage



News Posted: 30/10/2017      [Back to the Top]

Derbund blog

Die dunkle Seite der Tech-Macht /The dark side of tech power

Sie hat zur Folge, dass der Anteil der Arbeitseinkommen am Gesamtprodukt schrumpft und die Ungleichheit zunimmt. Die Grafik unten zeigt für ausgewählte Länder, wie der Anteil der Arbeitseinkommen von 1975 bis 2010 zurückgegangen ist. Wie die Ökonomen David Autor, David Dorn, Lawrence Katz, Christine Patterson und John Van Reenen zeigen, dehnen Superstar-Firmen ihren Umsatz und ihre Gewinne aus, ohne dass sie dafür mehr Leute einstellen. Je grösser daher der Anteil der Superstar-Firmen an der Gesamtwirtschaft ist, desto geringer ist die durchschnittliche Beschäftigung und desto grösser ist daher auch die Macht der Kapitaleigner gegenüber den Beschäftigten, was wiederum den Lohndruck erhöht. Das ist ein Grund dafür, weshalb trotz besserer Wirtschaftslage die Inflation kaum reagiert.


Related Links:
Derbund blog - Die dunkle Seite der Tech-Macht /The dark side of tech power

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

CEP Growth

John Van reenen webpage



News Posted: 30/10/2017      [Back to the Top]

Mail online

Axe stamp duty in the Budget, Hammond is told: Scrap ‘worst tax’ to boost the economy, says think-tank

Earlier this year, a report by the London School of Economics and the VATT Institute for Economic Research said the rate of home moving would be 27 per cent higher without stamp duty.

Related publications

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

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


Related Links:
Mail online - Axe stamp duty in the Budget, Hammond is told: Scrap ‘worst tax’ to boost the economy, says think-tank

CEP Urban and Spatial Programme

Christian Hilber webpage



News Posted: 30/10/2017      [Back to the Top]

LiveMint

Innovation problem

Nicholas Bloom, Charles Jones, John Van Reenen and Michael Webb show through detailed analysis of firms that research productivity is declining even as research efforts are rising. One of their key findings: “The number of researchers required today to achieve the famous doubling every two years of the density of computer chips is more than 18 times larger than the number required in the early 1970s.” It seems the famous Moore’s Law has just hit an important roadblock.


Related Links:
LiveMint - Innovation problem

Are Ideas Getting Harder to Find?

CEP Growth

Nick Bloom webpage

John Van reenen webpage



News Posted: 30/10/2017      [Back to the Top]

BBC TV Midlands

Sunday Politics

Mention of figures from the London School of Economics on the impact of a ‘no-deal’ Brexit on Birmingham’s economy.


Related Links:
BBC TV Midlands - Sunday Politics

The Local Economic Effects of Brexit

CEP Trade CEP Labour Markets CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 29/10/2017      [Back to the Top]

Nordbayern.de (Gemany)

Forscher erklärt: So werden Sie endlich richtig glücklich/Researcher explains: This is how you finally become really happy

It was a book that sparked him in 2005, "which absolutely fascinated me," titled "The Happy Company" by British economist and author Sir Richard Layard. Especially a caricature in it gave him something to think about. You can see two dogs. One says to the other: "I have everything: plenty of food and your own hut with garden, but somehow I'm still not happy."

Related publications

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

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


Related Links:
Nordbayern.de (Gemany) - Forscher erklärt: So werden Sie endlich richtig glücklich/Researcher explains: This is how you finally become really happy

CEP Wellbeing

Richard Layard webpage



News Posted: 28/10/2017      [Back to the Top]

Gulf News

Happiness policy manual for UAE entities

Dubai: The UAE Government has launched a Happiness Policy Manual for government establishments to prioritise people’s happiness, it was announced on Saturday. … The national programme recently organised a workshop for around 100 federal policymakers to introduce the manual. The workshop included a discussion by Paul Dolan, Professor of Behavioural Science at the London School of Economics, during which he presented a number of approaches to centre government policies around happiness, illustrating them with examples of success stories that underline the role of behavioural shifts on public happiness.


Related Links:
Gulf News - Happiness policy manual for UAE entities

CEP Wellbeing

Paul Dolan webpage



News Posted: 28/10/2017      [Back to the Top]

The Straits Times

Messy divorce looms as Brexit talks go nowhere

The overall impression in other European capitals is that the British want to have their cake and eat it, by leaving the EU and yet retaining all its advantages, a demand which no EU government is prepared to concede. Squabbles inside Mrs May's ruling Conservative Party add to the confusion. A group of ardent anti-European former senior Cabinet ministers has published an open letter to the Prime Minister, urging her to simply crash out of the EU with no deal; Britons should "concentrate our resources on resolving administrative issues" rather than trade negotiations, they say. But recent analysis compiled by the Centre for Economic Performance at the London School of Economics indicates that the option of leaving the EU without a negotiated trade deal could cost the British economy £430 billion (S$773 billion) over the first five years, or around 5 per cent of the country's total output.


Related Links:
The Straits Times - Messy divorce looms as Brexit talks go nowhere

The Local Economic Effects of Brexit

CEP Trade CEP Labour Markets CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 28/10/2017      [Back to the Top]

Evening Standard

David Sexton: Our education system continues to favour privilege

The Sutton Trust’s optimistic slogan on its masthead proclaims that it has been “Improving social mobility for 20 years”. Sadly, its own site includes a disturbing study, commissioned from the LSE, revealing “that social mobility in Britain — the way in which someone’s adult outcomes are related to their circumstances as a child — is lower than in Canada, Germany, Sweden, Norway, Denmark and Finland”. Moreover, unlike in America, social mobility is actually declining here rather than improving, mainly because graduation rates for the richest fifth have risen so much. 


Related Links:
Evening Standard - David Sexton: Our education system continues to favour privilege

Social Mobility in Britain: Low and Falling

CEP Labour Markets

Jo Blanden webpage

Stephen Machin webpage



News Posted: 26/10/2017      [Back to the Top]

Chicago Booth Review blog

The market power of ‘superstar’ companies is growing

The standard metric of monopoly power is the concentration ratio, or the share of the market accruing to the top four (or 20) firms. In a 2017 paper, MIT’s David Autor, Christina Patterson, and John Van Reenen, along with University of Zurich’s David Dorn and Harvard’s Lawrence F. Katz, compute the four- and 20-firm concentration ratios for six sectors of the US economy: manufacturing, wholesale trade, retail trade, services, finance, and utilities and transportation, for 1982–2012. Together, the six sectors account for 676 industries, nearly 4 million companies, and 80 percent of total private-sector employment. … In 2010, the US Census Bureau conducted its first Management and Organizational Practices Survey. Nearly 40,000 manufacturing establishments participated in MOPS, which used 36 multiple-choice questions to poll businesses on their management practices (processes for setting targets, monitoring performance, and providing incentives), organizational practices (structure, span of control, and the use of information), and basic characteristics (the number of managers and nonmanagers, educational attainment of managers, and union participation). Stanford’s Nicholas Bloom, MIT’s Erik Brynjolfsson and Van Reenen, Lucia Foster and Ron Jarmin of the US Census Bureau, and Tel Aviv University’s Itay Saporta-Eksten analyzed this data set by constructing an aggregate score for each manufacturer’s answer to the 36 questions (normalized to a 0–1 scale). As their results demonstrate, there is enormous dispersion in the quality of management and organizational practices across US firms.


Related Links:
Chicago Booth Review blog - The market power of ‘superstar’ companies is growing

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

What Drives Differences in Management?

CEP Growth

Nick Bloom webpage

John Van reenen webpage



News Posted: 26/10/2017      [Back to the Top]

BBC TV Scotland

Scottish Questions

Snippet: Mention of LSE study on cost of Brexit for Scotland


Related Links:
BBC TV Scotland - Scottish Questions

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 26/10/2017      [Back to the Top]

Design World

The cost of having a manager annoy you

…there have been numerous studies claiming that better management – sometimes equated with more management – is the key to productivity. One in particular – done by economists in Stanford, MIT, the U.S. Census Bureau, and LSE, Centre for Economic Performance – looked at 30,000 manufacturing firms and claimed that those with more structured management practices were more productive, innovative, and had faster employment growth.


Related Links:
Design World - The cost of having a manager annoy you

In brief: Management in America

IT and Management in America

CEP Growth

Nick Bloom webpage

John Van reenen webpage



News Posted: 26/10/2017      [Back to the Top]

City A.M.

No matter what the research says about the UK as a whole, productivity in London is actually pretty good

An excellent study published last month by a research group at the London School of Economics looks at the differences in economic activity in varying parts of the UK. The finding are intriguing and sometimes betray conventional wisdom. For instance, the financial sector spans a greater section of the UK than generally thought, and is “far less London-centric than the creative industries”.

Related links

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


Related Links:
City A.M. - No matter what the research says about the UK as a whole, productivity in London is actually pretty good

Industry in Britain - An Atlas

CEP Growth

Anna Valero webpage

Richard Davies webpage



News Posted: 26/10/2017      [Back to the Top]

The Telegraph

‘Premium minimum wage’ for workers would be too confusing, MPs told

Paying gig economy workers a premium level of the national minimum wage would risk confusing an already “too complicated” system by “over-egging the pudding”, MPs were told today. Sir David Metcalf, the UK’s director of labour market enforcement, said that he did not agree with proposals to pay premium rates of minimum wage for casual workers - a key recommendation of the Taylor Review of modern working practices. Sir David, who advised the Government on setting minimum levels of pay for 10 years, told the select committee on Business, Energy and Industrial Strategy that the suggestions outlined in the Taylor review would involve doubling the number of minimum wage levels from five to 10," he said.


Related Links:
The Telegraph - ‘Premium minimum wage’ for workers would be too confusing, MPs told

CEP Labour Markets

David Metcalf webpage



News Posted: 25/10/2017      [Back to the Top]

The Guardian

Embargo factories that rip off workers, says rights tsar

Director of labour market enforcement looking at measures against owners who refuse to follow employment regulations

The government should consider imposing an embargo on goods made in factories where workers have been underpaid, the workers’ rights tsar has told MPs. Sir David Metcalf, director of labour market enforcement, who reports to both the home and business secretaries, said he was looking at new measures to improve adherence to employment legislation. Speaking to a parliamentary inquiry into the recommendations of the Matthew Taylor review into gig economy workers on Wednesday, Metcalf said as many as 5% of the lowest paid may not be receiving the national minimum wage while holiday pay rules were “simply not enforced”.


Related Links:
The Guardian - Embargo factories that rip off workers, says rights tsar

CEP Labour Markets

David Metcalf webpage



News Posted: 25/10/2017      [Back to the Top]

The Press and Journal (Aberdeen)

Scottish Secretary “does not recognise” expert analysis of Brexit hit to Aberdeen

Scottish Secretary David Mundell has told opponents of Brexit to stop bandying about “damning figures” such as an analysis that Aberdeen will be worst hit by the divorce from Brussels. The London School of Economics yesterday published data suggesting a “no deal” departure from the bloc would cost the Granite City £3.5billion over five years – £1billion more than a so-called “soft” Brexit.


Related Links:
The Press and Journal (Aberdeen) - Scottish Secretary “does not recognise” expert analysis of Brexit hit to Aberdeen

The Local Economic Effects of Brexit

CEP Labour Markets CEP Growth CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 25/10/2017      [Back to the Top]

Yorkshire Post

Leeds set to lose out on £6.4bn in a ‘Hard’ Brexit

However, the Department for Exiting the EU recently rejected requests to publish the analysis, arguing that there was a risk of a knock-on effect on national and regional economies . But the Lib Dems have workd with experts at the London School of Economics to produce their own estimates of the effects of a “hard” and “soft” Brexit.The party claims the cities of London and Birmingham are set to be the worst-hit in the event of a “no deal” exit, with parts of the capital seeing a 9.5 percent drop in output. However, it also suggests that Leeds, which has one of the biggest financial services sectors outside of the South East, could see a drop in output of up to six percent – equivalent to £6.4bn.


Related Links:
Yorkshire Post - Leeds set to lose out on £6.4bn in a ‘Hard’ Brexit

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 25/10/2017      [Back to the Top]

BBC News online

Brexit impact study ‘will not be published’ UK government assessments of the potential economic impact of Brexit on Scotland will not be made public, the Brexit secretary has confirmed.

But the analysis will be shared with the Scottish government, David Davis told a committee of MPs. Mr Davis told the Brexit select committee that publishing the analysis could undermine the national interest. However, Nicola Sturgeon said people had a right to know how leaving the EU would affect all areas of the UK. And she said any refusal to release the information to the public would be "unconscionable". Research published by the London School of Economics earlier this week estimated the loss of economic output in Scotland could be £30bn.


Related Links:
BBC News online - Brexit impact study ‘will not be published’ UK government assessments of the potential economic impact of Brexit on Scotland will not be made public, the Brexit secretary has confirmed.

The Local Economic Effects of Brexit

CEP Trade CEP Labour Markets CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 25/10/2017      [Back to the Top]

The Scotsman

Leader comment: Brexit figures must not be kept secret

It is still unclear whether we are heading for a ‘hard’ or ‘soft’ Brexit but, amid calls for a second referendum, it is important that voters are told about the UK Government’s own estimates of the potential damage. Westminster’s decision to share its so-far confidential Brexit impact report with the Scottish Government is welcome, but it must also eventually come clean with the public. The reason for keeping the report’s conclusions secret – that it would result in “precipitating preemptive and reactionary assumptions” that would damage the economy – hardly inspires confidence. Neither does an estimate by the respected London School of Economics, which found Scotland’s output could fall by £30 billion over five years if there is no trade deal with the EU.


Related Links:
The Scotsman - Leader comment: Brexit figures must not be kept secret

The Local Economic Effects of Brexit

CEP Trade CEP Labour Markets CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 25/10/2017      [Back to the Top]

The Times

Live just outside conservation area for property price boost

Researchers at the London School of Economics found that house prices in England’s 8,000 conservation zones, which vary from the seaside town of Morecambe, Lancashire, to the industrial canals of Castlefield, Manchester, are being held back by the regulations that keep them historic.

Related publications

Game of Zones: The Political Economy of Conservation Areas, Gabriel M. Ahlfeldt, Kristoffer Moeller, Sevrin Waights and Nicolai Wendland, The Economic Journal, 127: F421–F445, October 2017

doi:10.1111/ecoj.12454

http://onlinelibrary.wiley.com/doi/10.1111/ecoj.12454/abstract?campaign=woletoc


Related Links:
The Times - Live just outside conservation area for property price boost

CEP Urban and Spatial Programme

Gabriel Ahlfeldt webpage

Sevrin Waights webpage



News Posted: 25/10/2017      [Back to the Top]

UK Parliament

Sir David Metcalf questioned on protecting workers' rights in the gig economy

09:49 AM BST

Work and Pensions and Business, Energy and Industrial Strategy Committee question Director of Labour Market Enforcement

The following link will allow you to view a copy of the updated information.


Related Links:
UK Parliament - Sir David Metcalf questioned on protecting workers' rights in the gig economy

CEP Labour Markets

David Metcalf webpage



News Posted: 24/10/2017      [Back to the Top]

The Economic Journal Volume 127, Feature Issue: 24 OCT 2017

Game of Zones: The Political Economy of Conservation Areas (pages F421–F445)

Gabriel M. Ahlfeldt, Kristoffer Moeller, Sevrin Waights and Nicolai Wendland

DOI: 10.1111/ecoj.12454

Related publications

Game of Zones: The Economics of Conservation Areas Gabriel M. Ahlfeldt, Kristoffer Moeller, Sevrin Waights and Nicolai Wendland, SERC/CEP Discussion Paper No.143, September 2017


Related Links:
The Economic Journal Volume 127, Feature Issue: 24 OCT 2017 - Game of Zones: The Political Economy of Conservation Areas (pages F421–F445)

CEP Urban and Spatial Programme

Gabriel Ahlfeldt webpage

Sevrin Waights webpage



News Posted: 24/10/2017      [Back to the Top]

Original 106 FM

Snippet: News story about study on the impact of Brexit on Aberdeen

Snippet: News story about study on the impact of Brexit on Aberdeen 


Related Links:
Original 106 FM - Snippet: News story about study on the impact of Brexit on Aberdeen

The Local Economic Effects of Brexit

CEP Trade CEP Labour Markets CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 24/10/2017      [Back to the Top]

BBC Radio (Shetland)

(10/24/2017 6:20:18 AM)

Snippet: Discussion of study on cost of Brexit for Scotland


Related Links:
BBC Radio (Shetland) - (10/24/2017 6:20:18 AM)

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Stephen Machin webpage

Swati Dhingra webpage

Henry Overman webpage



News Posted: 24/10/2017      [Back to the Top]

The Times (Scotland)

Cities stand to lose billions from Brexit

Scotland’s biggest cities stand to lose billions of pounds if the UK government fails to secure a Brexit deal, the Liberal Democrats have claimed (Hamish Macdonell writes). The party commissioned analysis from the London School of Economics which, it claims, shows that Edinburgh, Glasgow and Aberdeen would all suffer massive damage to their economic output under a “hard Brexit”.


Related Links:
The Times (Scotland) - Cities stand to lose billions from Brexit

The Local Economic Effects of Brexit

CEP Trade CEP Labour Markets CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 24/10/2017      [Back to the Top]

Guardian

Universities deplore ‘McCarthyism’ as MP demands list of tutors lecturing on Brexit

Tory whip writes to every vice-chancellor to ask for syllabus and any online material

Academics are accusing a Tory MP and government whip of “McCarthyite” behaviour, after he wrote to all universities asking them to declare what they are teaching their students about Brexit and to provide a list of teachers’ names. … Prof Kevin Featherstone, head of the European Institute at the LSE, is also outraged: “The letter reflects a past of a McCarthyite nature. It smacks of asking: are you or have you ever been in favour of remain? There is clearly an implied threat that universities will somehow be challenged for their bias.” Featherstone says LSE academics had already feared Brexit censorship after the Electoral Commission made inquiries during last year’s referendum campaign about academics’ debates and research, following a complaint by Bernard Jenkin, another Tory MP. Jenkin filed a complaint when the LSE hosted an event at which the secretary general of the Organisation for Economic Cooperation and Development said there was “no upside for the UK in Brexit”. Jenkin, a board member of the Vote Leave campaign, also accused the LSE’s Centre for Economic Performance of producing partisan research designed to convince the public to stay in the EU. The commission, whose job is to ensure fair campaigning, investigated and took no action against the university.


Related Links:
Guardian - Universities deplore ‘McCarthyism’ as MP demands list of tutors lecturing on Brexit

BREXIT 2016: Policy Analysis from the Centre for Economic Performance

CEP Labour Markets CEP Trade CEP Growth

Holger Breinlich webpage

Swati Dhingra webpage

Saul Estrin webpage

Hanwei Huang webpage

Gianmarco Ottaviano webpage

Thomas Sampson webpage

John Van reenen webpage

Jonathan Wadsworth webpage



News Posted: 24/10/2017      [Back to the Top]

Economic Policy Volume 32, Issue 92, October 2017

Articles Editors’ Choice

‘This paper estimates the welfare effects of Brexit in the medium to long run, focusing on trade and fiscal transfers. We use a standard quantitative general equilibrium trade model with many countries and sectors and trade in intermediates. We simulate a range of counterfactuals reflecting alternative options for European Union (EU)–United Kingdom (UK) relations following Brexit. Welfare losses for the average UK household are 1.3% if the UK remains in the EU’s Single Market like Norway (a ‘soft Brexit’). Losses rise to 2.7% if the UK trades with the EU under World Trade Organization rules (a ‘hard Brexit’). A reduced-form approach that captures the dynamic effects of Brexit on productivity more than triples these losses and implies a decline in average income per capita of between 6.3% and 9.4%, partly via falls in foreign investment. The negative effects of Brexit are widely shared across the entire income distribution and are unlikely to be offset from new trade deals.’

[Full Text]


Related Links:
Economic Policy Volume 32, Issue 92, October 2017 - Articles Editors’ Choice

The Costs and Benefits of Leaving the EU: Trade Effects

CEP Trade CEP Growth

Swati Dhingra webpage

Hanwei Huang webpage

Gianmarco Ottaviano webpage

Thomas Sampson webpage

John Van reenen webpage



News Posted: 23/10/2017      [Back to the Top]

Economic Policy Volume 32, Issue 92, October 2017

Articles Editors’ Choice

Who voted for Brexit? A comprehensive district-level analysis – Sascha O Becker, Thiemo Fetzer and Dennis Novy

‘On 23 June 2016, the British electorate voted to leave the European Union (EU). We analyse vote and turnout shares across 380 local authority areas in the United Kingdom. We find that exposure to the EU in terms of immigration and trade provides relatively little explanatory power for the referendum vote. Instead, we find that fundamental characteristics of the voting population were key drivers of the Vote Leave share, in particular their education profiles, their historical dependence on manufacturing employment as well as low income and high unemployment. At the much finer level of wards within cities, we find that areas with deprivation in terms of education, income and employment were more likely to vote Leave. Our results indicate that a higher turnout of younger voters, who were more likely to vote Remain, would not have overturned the referendum result. We also compare our UK results to voting patterns for the far-right leader Marine Le Pen in the 2017 French presidential election. We find similar factors driving the French vote. An out-of-sample prediction of the French vote using UK estimates performs reasonably well.’

[Full Text – Free access] [PDF]


Related Links:
Economic Policy Volume 32, Issue 92, October 2017 - Articles Editors’ Choice

Who Voted for Brexit? A Comprehensive District-Level Analysis

CEP Trade CEP Urban and Spatial Programme

Thiemo Fetzer webpage

Dennis Novy webpage



News Posted: 23/10/2017      [Back to the Top]

The Blogger’s EU and Brexit blog

#LSEBrexitvote/Swati Dhingra/Is leaving the Customs Union the right move?

Will the UK be able to strike better trade deals than the European Union once it leaves the EU? Dr Swati Dhingra interview.

Related interview

#LSEBrexitvote/Swati Dhingra/Is leaving the Customs Union the right move?

London School of Economics and Political Science

https://www.youtube.com/watch?v=wTGh-m6emr4


Related Links:
The Blogger’s EU and Brexit blog - #LSEBrexitvote/Swati Dhingra/Is leaving the Customs Union the right move?

CEP Trade

Swati Dhingra webpage



News Posted: 23/10/2017      [Back to the Top]

BBC London 94.9 (Radio)

Snippet: ..Discussion of study showing cost of Brexit on London


Related Links:
BBC London 94.9 (Radio) - Snippet: ..Discussion of study showing cost of Brexit on London

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Stephen Machin webpage

Swati Dhingra webpage

Henry Overman webpage



News Posted: 23/10/2017      [Back to the Top]

The Herald (Scotland)

New analysis suggests Scotland would lose billions of pounds with Brexit

Every part of Scotland and the UK as a whole would be affected by a soft Brexit, which would retain access to the single market during a transition period, according to the London School of Economics (LSE). However, its experts warned they would suffer a much worse fate under a hard no-deal Brexit.


Related Links:
The Herald (Scotland) - New analysis suggests Scotland would lose billions of pounds with Brexit

CEP Trade CEP Labour Markets CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 23/10/2017      [Back to the Top]

Birmingham Mail

Birmingham would lose almost £7 billion from a ‘hard Brexit’

Birmingham would be the second most damaged city in Britain by a hard Brexit, new research has revealed. The city's economy would lose £6.82 billion over five years. The figures, published by the respected Centre for Economic Performance at the London School of Economics, show how much the city's economy would shrink if the UK left the European Union without a deal giving us full access to the Single Market and the Customs Union.


Related Links:
Birmingham Mail - Birmingham would lose almost £7 billion from a ‘hard Brexit’

The Local Economic Effects of Brexit

CEP Trade CEP Labour Markets CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 23/10/2017      [Back to the Top]

Evening Standard

Hard Brexit ‘would cost London more than £100bn’

London boroughs from the suburbs to the City stand to lose billions of pounds from Brexit, new research revealed today. The impact of a “hard” exit without a trade deal would cost the capital’s economy over £100 billion over five years, while a softer departure could cost some £58 billion. The impact would be heaviest in the City of London which would lose £22 billion from a 9.5 per cent drop in output in a hard Brexit, according to an analysis of London School of Economics studies by the Liberal Democrats.


Related Links:
Evening Standard - Hard Brexit ‘would cost London more than £100bn’

The Local Economic Effects of Brexit

CEP Trade CEP Labour Markets CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 23/10/2017      [Back to the Top]

ChronicleLive (Newcastle)

This is how much a ‘no-deal’ Brexit would drain out of Newcastle and the rest of the North East

Newcastle’s economy would shrink by £1.92bn, a fall in economic output of 5%. The figures, published by the respected Centre for Economic Performance at the London School of Economics, show how much the city’s economy would shrink if the UK left the European Union without a deal giving us full access to the Single Market and the Customs Union.


Related Links:
ChronicleLive (Newcastle) - This is how much a ‘no-deal’ Brexit would drain out of Newcastle and the rest of the North East

The Local Economic Effects of Brexit

CEP Urban and Spatial Programme CEP Labour Markets CEP Trade

Swati Dhingra webpage

Henry Overman webpage

Stephen Machin webpage



News Posted: 23/10/2017      [Back to the Top]

Il Sole 24 Ore

Che cosa è successo con i robot in Germania. Finora/What happened to the robots in Germany. Till now

Recent research has shown that industrial robots in the US have led to heavy losses in terms of jobs and incomes. In this article, we will explore the impact they have had on the labor market in Germany, where robots are more popular than in the United States and the manufacturing industry's weight on total employment is much greater. …For our analysis, we use the same set of data from the International Federation of Robotics used by Acemoğlu and Restrepo (2016, 2017) and the pioneering study conducted by Graetz and Michaels (2017). This set of data shows the number of robots installed in 25 sectors and 50 countries over the period 1994 to 2014.


Related Links:
Il Sole 24 Ore - Che cosa è successo con i robot in Germania. Finora/What happened to the robots in Germany. Till now

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: 22/10/2017      [Back to the Top]

Brabants Dagblad (Netherlands)

Ingezonden(Letters)

A response to the interview with Thomas Sampson about the 'Devil's Dilemma of the Brexit'. I know many English who voted for Brexit, and almost all of them are highly educated. The reasons for this are the same: the immigration problem, and want to maintain their own sovereignty. Unraveling the more than 1,000 lines and laws shows how far the tentacles of the EU have already been infiltrated! With the influence of President Macron it will be even worse. As for the jobs that would disappear, I would not worry too much, just like the thought of trade. There will be adjustments simply because it is also in the interests of the other EU countries.


Related Links:
Brabants Dagblad (Netherlands) - Ingezonden(Letters)

CEP Trade

Thomas Sampson webpage



News Posted: 22/10/2017      [Back to the Top]

Mail online

Leaving the EU without a trade deal could cost Britain £430 BILLION over five years, warns Vince Cable

Using calculations based on research by the London School of Economics, the Lib Dems say that if the UK exits the EU in March 2019 without a deal, Britain’s economic output in the five years after Brexit would be reduced by 5.3 per cent, or £430 billion. Even if the UK agreed to a Norway-style arrangement, in which we retain full access to the Single Market, there would still be a reduction of 2.9 per cent – or £235 billion. London would be worst hit by a no-deal Brexit, with a £115 billion fall in output up to March 2024.


Related Links:
Mail online - Leaving the EU without a trade deal could cost Britain £430 BILLION over five years, warns Vince Cable

The Local Economic Effects of Brexit

CEP Trade CEP Labour Markets CEP Urban and Spatial Programme

Swati Dhingra webpage

Henry Overman webpage

Stephen Machin webpage



News Posted: 22/10/2017      [Back to the Top]

Vox

The real costs of free university: Lessons from the UK

Article by Gill Wyness, Richard Murphy and Judith Scott-Clayton

The question of who should pay for higher education continues to be hotly debated across the world. This column uses the case of the English higher education system to examine whether it is possible to charge relatively high tuition fees and at the same time protect enrolments, access, and university quality. The analysis shows that since the move from a free higher education system to a high-fee, high-aid system, university enrolment has increased substantially, with students from the poorest backgrounds experiencing the fastest increases in participation. Moreover, university funding per head has recovered dramatically since the introduction of fees.


Related Links:
Vox - The real costs of free university: Lessons from the UK

The End of Free College in England: Implications for Quality, Enrolments and Equity

CEP Education and Skills

Gill Wyness webpage

Richard Murphy webpage



News Posted: 21/10/2017      [Back to the Top]

The Times

Life without strife

An LSE study two years ago found that schools that banned phones did 6.4 per cent better in exams.


Related Links:
The Times - Life without strife

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: 21/10/2017      [Back to the Top]

Daily Mirror

New Brexit research suggests Britain’s bill for leaving the EU without a deal

Leaving the EU will cost Britain £430billion over five years if no deal is done, research suggests. Even a “soft” Norway-style Brexit could cost the ­country £235billion – sparking serious fears for the economy. The analysis, seen by the Liberal Democrats, show all parts of the UK would be hit – from ­City of London financiers to industries in the regions. The analysis came from the London Schools of Economics Centre for Economic Performance. It found if the UK exits the EU in March 2019 without a trade deal, its economic output in the following five years would be down 5.3 per cent, equivalent to £430billion. Also in: Sunday Mirror - The People on 22 October 2017 'No-Deal Brexit to cost £430BN: Warning of economic turmoil for whole UK' [No link available]

 


Related Links:
Daily Mirror - New Brexit research suggests Britain’s bill for leaving the EU without a deal

The Local Economic Effects of Brexit

CEP Urban and Spatial Programme CEP Trade CEP Labour Markets

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 21/10/2017      [Back to the Top]

Quartz

We’re running out of big ideas

Modern-day inventors–even those in the league of Steve Jobs–will have a tough time measuring up to the productivity of the Thomas Edisons of the past. That’s because big ideas are getting harder and harder to find, and innovations have become increasingly massive and costly endeavors, according to new research from economists at the Stanford Institute for Economic Policy Research. As a result, tremendous continual increases in research and development will be needed to sustain even today’s low rate of economic growth. SIEPR senior fellow Nicholas Bloom, a Stanford GSB professor of economics by courtesy and co-author of a paper released this week by the National Bureau of Economic Research, contends that so many game-changing inventions have appeared since World War II that it’s become increasingly difficult to come up with the next big idea. “The thought now of somebody inventing something as revolutionary as the locomotive on their own is inconceivable,” Bloom says.


Related Links:
Quartz - We’re running out of big ideas

Are Ideas Getting Harder to Find?

CEP Growth

Nick Bloom webpage

John Van reenen webpage



News Posted: 20/10/2017      [Back to the Top]

Economics of Education Review - Forthcoming

Smart but Unhappy: Independent-school Competition and the Wellbeing-efficiency Trade-off in Education


Related Links:
Economics of Education Review - Forthcoming - Smart but Unhappy: Independent-school Competition and the Wellbeing-efficiency Trade-off in Education

CEP Labour Markets

Gabriel Heller-sahlgren webpage



News Posted: 20/10/2017      [Back to the Top]

Huffington Post

Why global leaders should pay attention to people’s happiness

Recent research by London School of Economics academic George Ward shows that how people feel about their lives influences how they vote in elections. He believes that subjective measures of well-being are better predictors of elections than how people feel about the economy.

 


Related Links:
Huffington Post - Why global leaders should pay attention to people’s happiness

Is Happiness a Predictor of Election Results?

CEP Wellbeing

George Ward webpage



News Posted: 20/10/2017      [Back to the Top]

Naked Capitalism

Brexit: the economics of international disintegration

Article by Thomas Sampson

It is too soon to know whether Brexit will be merely a diversion on the path to greater integration, a sign globalisation has reached its limits, or the start of a new era of protectionism. In recent work, I attempt to shed light on the implications of Brexit by summarising the research so far on the likely economic consequences of Brexit, and discussing the evidence on why the UK voted to leave the EU( Sampson 2017).

Related publications

Sampson, T (2017), “Brexit: The Economics of International Disintegration”, Journal of Economic Perspectives, forthcoming.


Related Links:
Naked Capitalism - Brexit: the economics of international disintegration

Brexit: The Economics of International Disintegration

CEP Trade

Thomas Sampson webpage



News Posted: 20/10/2017      [Back to the Top]

Vox

Brexit: The economics of international disintegration

Article by Thomas Sampson

While we can estimate the economic impact of Brexit, we do not yet understand what made people vote for it. This column argues that political pro-Brexit rhetoric conflates two distinct hypotheses that have different policy implications. If voters wanted to reclaim sovereignty from the EU, they may view a negative economic impact as a price worth paying. But, if 'left-behind' voters blamed the EU for their economic and social problems, post-Brexit policy should focus on the underlying causes of discontent.

 

Related links

Sampson, T (2017), “Brexit: The Economics of International Disintegration”, Journal of Economic Perspectives, forthcoming.


Related Links:
Vox - Brexit: The economics of international disintegration

CEP Trade

Thomas Sampson webpage



News Posted: 19/10/2017      [Back to the Top]

The Spectator

Will the City thrive after Brexit?

While talk of a sudden exodus might be overblown, there is a danger that jobs in the sector could gradually slip away from the capital. Barclays’ Peter Gordon says that, over the next decade, ‘we might lose the battle to New York… to Paris and elsewhere’. He argues that the key thing to avoid this is continue access to the single market. That’s the ‘pinch point’ of Brexit, he says. Dr Swati Dhingra from the LSE agrees. It’s market access that matters, she says. Take Swiss banks: there’s a reason they base themselves in Britain rather than closer to home. They do this because Switzerland’s status outside the EU means it doesn’t benefit from the same access as the UK does currently. ‘It’s also about future regulation,’ says Dhingra. Brexit will inevitably change the way banks operate in Britain. But how? We still don’t know. It’s this uncertainty of current and future regulations that matters for investments coming into the sector and the predicted negative economic impacts, she says.


Related Links:
The Spectator - Will the City thrive after Brexit?

CEP Trade

Swati Dhingra webpage



News Posted: 19/10/2017      [Back to the Top]

The Street.com

Goldman CEO Lloyd Blankfein trolls Britain’s Brexit plans with Frankfurt tweet

The London School of Economics' Centre for Economic Performance and Centre for Cities estimates the British capital could lose as much as £18 billion ($23.7 billion) in annual revenue and as many as 30,000 jobs, a figure that EY suggests could rise to 83,000 in a worst-case "Hard Brexit" scenario.


Related Links:
The Street.com - Goldman CEO Lloyd Blankfein trolls Britain’s Brexit plans with Frankfurt tweet

The Local Economic Effects of Brexit

CEP Trade CEP Labour Markets CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 19/10/2017      [Back to the Top]

MIT Management Newsroom

Brexit, explained

Article by John Van Reenen:  ... “An argument that was made in favor of Brexit was that by restricting Europeans coming into Britain, it would create an economic boon,” said MIT Sloan professor John Van Reenen, an economist who studies Brexit and its economic implications. This was based on the assumption that immigration displaced British workers, increasing their unemployment and decreasing their wages. “There’s been a lot of research on that,” said Van Reenen, “and the pretty unequivocal answer is that it’s totally wrong.”... For more analysis, check out the Centre for Economic Performance’s Brexit page.


Related Links:
MIT Management Newsroom - Brexit, explained

BREXIT 2016: Policy Analysis from the Centre for Economic Performance

CEP Growth

John Van reenen webpage



News Posted: 18/10/2017      [Back to the Top]

LSE Brexit blog

Why Brexit could hit productivity in the UK

UK economic performance has been poor since the vote to leave the EU in June 2016, but has not been the catastrophe that many predicted. Nicholas Bloom (Stanford) and Paul Mizen (Nottingham University) draw four results from the evidence gathered in the new Decision Maker Panel survey of around 2,500 businesses in the UK. While most firms expect a negative impact of Brexit on sales, investment and costs, only larger firms and those that are more exposed to international markets are likely to think that they might move part of their business abroad.


Related Links:
LSE Brexit blog - Why Brexit could hit productivity in the UK

CEP Growth

Nick Bloom webpage



News Posted: 17/10/2017      [Back to the Top]

MercatorNet

His standards or hers? How men and women define success

"Money is not the only thing affecting people’s happiness; it's not remotely the whole story," said British economist Baron Richard Layard in 2014. "People must understand that they would do well to preserve their human relationships; they should give them a higher priority than how much they earn.”4 As I point out in The Village Effect, this is more commonly a female perspective than a male-typical one.5

See also:

Tuesday 10 October

Institute for Family Studies – IFS

His standards or hers? How men and women define success

Editor’s Note: The following essay is based on a contribution to European Parliament member, Teresa Giménez Barbat's project Euromind, and to the related event “Gifted Women, Fragile Men,” which was held at the EU parliament buildings on March 28, 2017.

"Money is not the only thing affecting people’s happiness; it's not remotely the whole story," said British economist Baron Richard Layard in 2014. "People must understand that they would do well to preserve their human relationships; they should give them a higher priority than how much they earn.”4

https://ifstudies.org/blog/his-standards-or-hers-how-men-and-women-define-success

 

Related article

4. . Blackhurst, Chris. Richard Layard: "Money is not the only thing affecting people's happiness." The Independent, July 13, 2014.

 

Related links

Happiness and Public Policy research webpage


Related Links:
MercatorNet - His standards or hers? How men and women define success

CEP Wellbeing

Richard Layard webpage



News Posted: 17/10/2017      [Back to the Top]

Huffington Post (India)

These 7 numbers show how global poverty remains a huge problem

If policymakers focused on tackling mental illness instead of only focusing on eliminating poverty, global misery levels could decrease by 20 percent, according to a London School of Economics study. Reducing poverty is therefore not the only key to happiness.

Also in:

Monday 16 October

Huffington Post

These 7 numbers show how global poverty remains a huge problem

https://www.huffingtonpost.com/entry/global-poverty-by-the-numbers_us_59e4d77ee4b04d1d5183787b?section=us_theworldpost

 

Related article

‘Origins of Happiness: Evidence and Policy Implications’, Andrew Clark, Sarah Fleche, Richard Layard, Nattavudh Powdthavee and George Ward. Article published by Vox online on 12 December 2016

http://voxeu.org/article/origins-happiness

 


Related Links:
Huffington Post (India) - These 7 numbers show how global poverty remains a huge problem

CEP Wellbeing

Andrew Clark webpage

Sarah Flèche webpage

Richard Layard webpage

Nattavudh Powdthavee webpage

George Ward webpage



News Posted: 17/10/2017      [Back to the Top]

Spectator – Coffee House blog

The embarrassing role of economists on Brexit

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


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

BREXIT 2016: Policy Analysis from the Centre for Economic Performance

CEP Trade CEP Growth CEP Labour Markets

Holger Breinlich webpage

Swati Dhingra webpage

Saul Estrin webpage

Hanwei Huang webpage

Gianmarco Ottaviano webpage

Thomas Sampson webpage

John Van reenen webpage

Jonathan Wadsworth webpage



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

Asian Robotics Review

Looking to make a fortune investing in robotics?

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


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

Robots at work: the impact on productivity and jobs

Robots at work: the impact on productivity and jobs

CEP Labour Markets

Georg Graetz webpage

Guy Michaels webpage



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

Horticulture Week

Can UK fresh produce come out of Brexit ahead?

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


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

CEP Community

Alan Manning webpage



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

CEP and impact

Knowledge Exchange and Impact (KEI) at LSE

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

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

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

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


Related Links:




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

CEP recent awards

Sara Evans-Lacko, PSSRU

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


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

CEP Wellbeing

Sara Evans-lacko webpage



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

CEP on Twitter

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

Tweet by Alastair Campbell:

Alastair Campbell‏Verified account @campbellclaret Oct 10

Follow Follow @campbellclaret

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

1:32 PM - 10 Oct 2017

  • 10 Retweets
  • 31 Likes

 

 

 

 

 

 

 

 

 

 


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

CEP Wellbeing

Richard Layard webpage



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

Freakonomics Radio

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

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

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

Related publications

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

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


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

CEP Trade

Daniel M. Sturm webpage



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

Mercola.com

Moods are contagious: good and bad

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


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

CEP Wellbeing

Richard Layard webpage



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

LSE Research Briefing October 2017

New LSE report on uneven spread of UK industry

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


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

Industry in Britain - An Atlas

CEP Growth

Richard Davies webpage

Anna Valero webpage



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

Ted.com

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

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

Related publications

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

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

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

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

 


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

Cycles of Disadvantage

Child Development and Success or Failure in the Youth Labour Market

CEP Labour Markets CEP Education and Skills

Jo Blanden webpage

Steve Gibbons webpage

Stephen Machin webpage



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

Hrmasia

The working blues

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

Related publications

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

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

DOI:  10.1007/s00127-016-1278-4


Related Links:
Hrmasia - The working blues

CEP Wellbeing

Sara Evans-lacko webpage

Martin Knapp webpage



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

John Menadue – Pearls and Irritations

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

Article by Paul Frijters

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


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

CEP Wellbeing

Paul Frijters webpage



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

London Review of Books

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

Letter by Swati Dhingra and Nikhil Datta

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

Related articles

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

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

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

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


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

CEP Trade

Nikhil Datta webpage

Swati Dhingra webpage



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

MOJEH online

The pursuit of happiness

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

Related article

Vox

Origins of happiness: Evidence and policy implications

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


Related Links:
MOJEH online - The pursuit of happiness

CEP Wellbeing

Andrew Clark webpage

Sarah Flèche webpage

Richard Layard webpage

Nattavudh Powdthavee webpage

George Ward webpage



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

IZA World of Labor

The economics of mental health

Article by Richard Layard

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


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

CEP Wellbeing

Richard Layard webpage



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

CEP Journal Articles

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

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

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


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

The upside of London Tube strikes

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

CEP Trade

Ferdinand Rauch webpage



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

CEP Journal Articles

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

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

DOI: 10.1093/wber/lhw034

Related links

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

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


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

Risk and Evidence of Bias in Randomized Controlled Trials in Economics





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

LinkedIn

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

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


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

Robots at work: the impact on productivity and jobs

Robots at Work

CEP Labour Markets

Georg Graetz webpage

Guy Michaels webpage



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

The Maui News - blog

Mutually assured destruction

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

Related articles

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

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


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

CEP Trade

Nikhil Datta webpage

Swati Dhingra webpage



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

VRT.be (Belgium)

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

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

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


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

CEP Wellbeing

Jan-Emmanuel De neve webpage



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

Henley Standard

Prices hit a high, but is crash coming?

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

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

Related links

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


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

CEP Urban and Spatial Programme

Paul Cheshire webpage



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

Henley Standard

Prices hit a high, but is crash coming?

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

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

Related links

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


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

CEP Urban and Spatial Programme

Paul Cheshire webpage



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

BBC News

Pembrokeshire council vote for Brexit working group

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


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

The Local Economic Effects of Brexit

CEP Trade CEP Labour Markets CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



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

Lonely Planet

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

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

Related publications

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

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

ISBN: 978-0-9968513-2-9

 


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

CEP Wellbeing

Richard Layard webpage



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

The Sunday Times

Still clueless on Brexit – and it is taking its toll

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

Related article

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

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


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

CEP Labour Markets CEP Trade

Nikhil Datta webpage

Swati Dhingra webpage



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

Inquirer.net

Raise happiness; lessen impunity

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

Related publications

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

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

DOI: 10.1080/14733140600986227

 


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

CEP Wellbeing

Richard Layard webpage



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

The Times

A broken housing market – and how to fix it

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

Related links

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


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

CEP Urban and Spatial Programme

Paul Cheshire webpage



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

Forbes

Benefits of a lenient work-from-home policy

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

Related publications

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


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

Does Working from Home Work? Evidence from a Chinese Experiment

CEP Growth

Nick Bloom webpage



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

Kathimerini.gr (Greece)

Source of uncertainty, but not destruction, Brexit

Article by NICHOLAS BLOOM*, PAUL MIZEN

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


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

CEP Growth

Nick Bloom webpage



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

Ad.nl (Netherlands)

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

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

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

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

Related links

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


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

CEP Trade

Thomas Sampson webpage



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

Share Radio [8:40:11 am]

CEP on Radio

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

 


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

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

CEP Growth

Brian Bell webpage

John Van reenen webpage



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

CEP citations

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

CEP work cited

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

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





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

Western Telegraph

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

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


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

The Local Economic Effects of Brexit

CEP Trade CEP Labour Markets CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



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

Foral.pl (Poland)

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

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


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

Robots at work: the impact on productivity and jobs

Robots at Work

CEP Labour Markets

Georg Graetz webpage

Guy Michaels webpage



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

Times Higher Education - THE

Subject cost data add fuel to England's variable fees debate

Gill Wyness, a senior lecturer in the economics of education at the UCL Institute of Education, said there might be logic in this approach given that universities were arguably being incentivised at the moment to provide more humanities courses and less science and technology. But she added that fees reflecting course cost were “probably not a great idea in terms of how that would affect students. You could speculate that the poorer students would end up choosing humanities and the richer students would end up choosing medicine. So I think it is a bad policy from that point of view.”


Related Links:
Times Higher Education - THE - Subject cost data add fuel to England's variable fees debate

The End of Free College in England: Implications for Quality, Enrolments and Equity

CEP Education and Skills

Gill Wyness webpage



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

CEP and Government inquiries

Economic Affairs Committee hearing on tertiary education

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

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


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





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

CEP at Party Conferences 2017

Labour Party Conference

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

 

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

Related links

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


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

CEP Trade

Swati Dhingra webpage



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

Livemint

A learning crisis in the developing world

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


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

Does Management Matter In Schools?

CEP Growth

Nick Bloom webpage

Renata Lemos webpage

Raffaella Sadun webpage

John Van reenen webpage



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

Harvard Law School Forum on Corporate Governance and Financial Regulation

The inner workings of the Board: Evidence from emerging markets

Article by Ralph de Haas, Daniel Ferreira and Tom Kirchmaier

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


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

CEP Community CEP Labour Markets

Tom Kirchmaier webpage



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

Medium.com – Third Way

Alexa, will automation destroy my job?

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


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

CEP Labour Markets

Georg Graetz webpage

Guy Michaels webpage



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

Harvard Business Review

The real reason superstar firms are pulling ahead

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

Related publications

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

Related links

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


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

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

CEP Growth

Nick Bloom webpage

Raffaella Sadun webpage

John Van reenen webpage



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

American Economic Association

How the growing service sector shrank the gender gap

Women’s role in the US economy has exploded since WWII. In fact, the employment rate for women of prime working age more than doubled in the second half of the 20th century. There are a lot of reasons for this, including increased educational investment and changing attitudes about gender equality. But a paper in the October issue of the American Economic Journal: Macroeconomics offers yet another explanation. Researchers Rachel Ngai and Barbara Petrongolo say the rise of the service sector increased demand for women workers.


Related Links:
American Economic Association - How the growing service sector shrank the gender gap

In brief ... How the rise of the service economy narrowed the gender gap

Gender Gaps and the Rise of the Service Economy

CEP Labour Markets

Barbara Petrongolo webpage



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

Great Yarmouth Mercury

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

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


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

CEP Community

Paul Cheshire webpage



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

Bloomberg News Online

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

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

Related links

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

 


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

CEP Urban and Spatial Programme

Paul Cheshire webpage



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

Chronicle Live

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

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


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

CEP Community

Alan Manning webpage



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

Daily Telegraph

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

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

Jeff McQuillan, Los Angeles, California

 


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

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

"Teaching to Teach" Literacy

CEP Education and Skills

Stephen Machin webpage

Sandra Mcnally webpage



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

Devex.com

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

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

Related article

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

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


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

Does Management Matter In Schools?

CEP Growth

Nick Bloom webpage

Raffaella Sadun webpage

John Van reenen webpage



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

Recruiting Times

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

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


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

In brief: University exam results matter

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

CEP Labour Markets

Georg Graetz webpage



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

Exame (Brazil)

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

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


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

Are Ideas Getting Harder to Find?

CEP Growth

Nick Bloom webpage

John Van reenen webpage



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

CEP Engagement

Conservative Party Conference

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


Related Links:
CEP Engagement - Conservative Party Conference

CEP Trade

Dennis Novy webpage



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

Recruiting Times

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

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


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

In brief: University exam results matter

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

CEP Labour Markets

Georg Graetz webpage



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

Birmingham Mail

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

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

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


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

CEP Community

Alan Manning webpage



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

Gestión (Spain)

Positive leadership: These are the pillars of happiness at work

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

Related publications

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

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


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

CEP Wellbeing

Richard Layard webpage



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

EA Magazine

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

Article by Georg Graetz and Guy Michaels

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

Related publications

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

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


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

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

Is Modern Technology Responsible for Jobless Recoveries?

CEP Labour Markets

Georg Graetz webpage

Guy Michaels webpage



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

LSE British Politics and Policy blog

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

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

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


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

Industry in Britain - An Atlas

CEP Growth

Anna Valero webpage

Richard Davies webpage



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

Bloomberg News online

More Manna From Heaven for Britain's Lucky Builders

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


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

CEP Urban and Spatial Programme

Christian Hilber webpage



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

GrowthBusiness.co.uk

How to grow with R&D tax credits

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


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

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

CEP Growth CEP Urban and Spatial Programme

Antoine Dechezleprêtre webpage

Elias Einiö webpage

Ralf Martin webpage

Kieu-Trang Nguyen webpage

John Van reenen webpage



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

The Highlander (University of California, USA)

Banning cell phones at schools will only result in good

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


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

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

Ill Communication: Technology, Distraction & Student Performance

CEP Education and Skills

Richard Murphy webpage



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

Huffington Post

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

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


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

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

Ill Communication: Technology, Distraction & Student Performance

CEP Education and Skills

Richard Murphy webpage



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

Yeni Safak (Turkey)

Happier working at home

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


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

Does Working from Home Work? Evidence from a Chinese Experiment

Working or shirking?

CEP Growth

Nick Bloom webpage



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

BBC Brasil

Why injustice upsets inequality, according to research

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

Related publications

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


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

Measuring Economic Policy Uncertainty

CEP Growth

Nick Bloom webpage



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

Telegram.com (Mass; USA)

Cellphones a tricky issue for school districts in Central Mass.

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


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

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

Ill Communication: Technology, Distraction & Student Performance

CEP Education and Skills

Richard Murphy webpage



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

Reformatorisch Dagblad (Netherlands)

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

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

Related publications

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

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

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


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

CEP Wellbeing

Richard Layard webpage



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

Trome (Spain)

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

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


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

Does Working from Home Work? Evidence from a Chinese Experiment

Working or shirking?

CEP Growth

Nick Bloom webpage



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

LBC online

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

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


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

CEP Labour Markets

Jonathan Wadsworth webpage



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

The Times

Bigger rewards and less risk are making crime more attractive

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

Also in:

The Australian

Bigger rewards and less risk for crime

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

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

 

The Times (Irish edition)

Bigger rewards and less risk are making crime more attractive

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

 


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

The Economic Functioning of Online Drugs Markets

Lessons from the economics of crime

CEP Labour Markets CEP Education and Skills

Stephen Machin webpage

Olivier Marie webpage



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

Farmers Guardian

Non-EU workers targeted to plug agricultural labour gap

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


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

CEP Community

Alan Manning webpage



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

El Diario.es (Spain)

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

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


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

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

CEP Growth

John Van reenen webpage



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

Daily Mail

Trump goes to war with World Trade Organisation

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


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

CEP Trade

Dennis Novy webpage



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

Economist

The cost of innovation has risen, and productivity has suffered

But the exploitation of currently available knowledge is far from complete

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


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

Are Ideas Getting Harder to Find?

CEP Growth

Nick Bloom webpage

John Van reenen webpage



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

Delo (Slovenia)

Boštjan J. Turk: Money and Mental Health

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

Related publications

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

 

 


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

CEP Wellbeing

Richard Layard webpage



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

The Beacon

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

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


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

Foreign investors love Britain - but Brexit would end the affair

The impact of Brexit on foreign investment in the UK

CEP Trade CEP Growth

Swati Dhingra webpage

Gianmarco Ottaviano webpage

Thomas Sampson webpage

John Van reenen webpage



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

LSE Business Review

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

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


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

CEP Wellbeing

Paul Frijters webpage

Nattavudh Powdthavee webpage



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

Independent

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

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


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

Brexit: the impact on UK trade and living standards

The consequences of Brexit for UK trade and living standards

CEP Growth CEP Trade

Swati Dhingra webpage

Gianmarco Ottaviano webpage

Thomas Sampson webpage

John Van reenen webpage



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

The UK in a Changing Europe blog

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

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


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

CEP Trade

Josh De lyon webpage

Swati Dhingra webpage



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

LBC Radio - Live with Nick Ferrari

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

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

 

Related links

[subscription required]

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

 


Related Links:
CEP Trade

Dennis Novy webpage



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

Kurzy.cz (Czechoslovakia)

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

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

Also in:

Patria.cz (Czechoslovakia)

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

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


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

Are Ideas Getting Harder to Find?

CEP Growth

Nick Bloom webpage

John Van reenen webpage



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

The Wire

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

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


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

Are Ideas Getting Harder to Find?

CEP Growth

Nick Bloom webpage

John Van reenen webpage



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

Les Echos (France)

Productivity is cultivated

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


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

Management as a Technology?

Management Practices Across Firms and Countries

CEP Trade CEP Growth

Nick Bloom webpage

Raffaella Sadun webpage

John Van reenen webpage



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

Howling Pixel

Technological unemployment

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


Related Links:
Howling Pixel - Technological unemployment

Robots at work: the impact on productivity and jobs

Robots at Work

CEP Labour Markets

Georg Graetz webpage

Guy Michaels webpage



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

The Independent (Daily Edition)

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

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

Related article

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

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


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

The consequences of Brexit for UK trade and living standards

CEP Trade CEP Growth

Swati Dhingra webpage

Gianmarco Ottaviano webpage

Thomas Sampson webpage

John Van reenen webpage



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

LSE Business Review blog

Where industry is strong and where it's weak: Key facts of UK business geography

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


Related Links:
LSE Business Review blog - Where industry is strong and where it's weak: Key facts of UK business geography

Industry in Britain - An Atlas

CEP Growth

Anna Valero webpage

Richard Davies webpage



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

Financial Times

Business fears Brexit will hit sales, study finds

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


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

CEP Growth

Nick Bloom webpage



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

St Louis Post Dispatch

Why the world’s workers are losing to capitalists

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

Related publications

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

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

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


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

Concentrating on the Fall of the Labor Share

CEP Growth

John Van reenen webpage



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

NJ Today (New Jersey, USA)

Big ideas are getting harder to find

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


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

Are Ideas Getting Harder to Find?

CEP Growth

Nick Bloom webpage

John Van reenen webpage



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

LSE Brexit blog

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

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


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

CEP Trade

Josh De lyon webpage

Swati Dhingra webpage



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

Forbes (Mexico)

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

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

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

Related publications

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

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


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

CEP Wellbeing

Richard Layard webpage



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

Viva Nicaragua canal 13

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

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


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

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

CEP Wellbeing

Hannes Schwandt webpage



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

Brainerd Dispatch

Wealth enhancement column: happy retirement

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


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

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

CEP Wellbeing

Hannes Schwandt webpage



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

CounterFire

Robots and AI: utopia or dystopia? Part one

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


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

Robots at work: the impact on productivity and jobs

Robots at Work

CEP Labour Markets

Georg Graetz webpage

Guy Michaels webpage



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

Economist

Letters to the Editor: Patrick Minford responds

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


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

‘ECONOMISTS FOR BREXIT’: A critique

CEP Trade CEP Growth

Swati Dhingra webpage

Gianmarco Ottaviano webpage

Thomas Sampson webpage



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

Farming UK

Exchange rate and other favourable countries sees UK migrant labour shortage

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


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

CEP Labour Markets

Alan Manning webpage



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

World Economic Forum

8 ways to unlock the power of a community

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

Associated article

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


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

CEP Wellbeing

George Ward webpage

Andrew Clark webpage

Sarah Flèche webpage

Richard Layard webpage

Nattavudh Powdthavee webpage



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

The Times

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

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

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

Also in

The Times

Patchy prosperity is the real British disease

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

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

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

Related links

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


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

Industry in Britain - An Atlas

CEP Growth

Anna Valero webpage

Richard Davies webpage



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

LSE News

New LSE report on uneven spread of UK industry

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

 


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

Industry in Britain - An Atlas

CEP Growth

Anna Valero webpage



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

Sky News TV

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


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

The Economic Impact of Universities: Evidence from Across the Globe

CEP Growth

Anna Valero webpage



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

Ideas.Ted.com

Why working from home should be standard practice

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


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

Does Working from Home Work? Evidence from a Chinese Experiment

CEP Growth

Nick Bloom webpage



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

Writer Beat blog

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

Article by John Van Reenen

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

Related publications

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

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

 


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

Firm Size Distortions and the Productivity Distribution: Evidence from France

CEP Growth

Luis Garicano webpage

John Van reenen webpage



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

Writer Beat blog

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

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


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

Firm Size Distortions and the Productivity Distribution: Evidence from France

CEP Growth

John Van reenen webpage



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

Vox

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

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


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

Are Ideas Getting Harder to Find?

CEP Growth

Nick Bloom webpage

John Van reenen webpage



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

European Union News – Durham University: Thought Leadership

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

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


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

The impact of Brexit on foreign investment in the UK

CEP Trade CEP Growth

Swati Dhingra webpage

Gianmarco Ottaviano webpage

Thomas Sampson webpage

John Van reenen webpage



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

Young Socialists

Why do young people need socialism?

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


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

Real Wages and Living Standards in the UK

CEP Labour Markets

Rui Costa webpage

Stephen Machin webpage



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

Bloomberg

Why workers are losing to capitalists

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

Related publications

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

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

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


Related Links:
Bloomberg - Why workers are losing to capitalists

Concentrating on the Fall of the Labor Share

CEP Growth

John Van reenen webpage



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

The Times

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

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

Related publications

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

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

 

Related links

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

 


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

CEP Growth

Nick Bloom webpage

John Van reenen webpage



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

Managers.org.uk

How accidental managers are draining productivity

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

Related publications

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

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

Related links

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


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

CEP Growth

Nick Bloom webpage

John Van reenen webpage



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

MoneyWeek

The UK cities that will be most affected by Brexit

It’s important to realise that, while Brexit will have an effect on the whole of the UK, it will not be spread evenly around the country. In an attempt to look at the relative winners and losers, the think-tank Centre for Cities and the LSE’s Centre for Economic Performance teamed up to produce Brexit, Trade and the Economic Impacts on UK Cities.  This report, by Naomi Clayton and Professor Henry Overman, attempts to model the impact on a much finer level.


Related Links:
MoneyWeek - The UK cities that will be most affected by Brexit

The Local Economic Effects of Brexit

CEP Urban and Spatial Programme CEP Trade CEP Labour Markets

Swati Dhingra webpage

Henry Overman webpage

Stephen Machin webpage



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

BBC Somerset (5:19:24 PM)

Tom Kirchmaier comments on police funding


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

CEP Labour Markets CEP Community

Tom Kirchmaier webpage



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

BBC Somerset (5:19:24 PM)

Tom Kirchmaier comments on police funding

Click to open


Related Links:
CEP Labour Markets CEP Community

Tom Kirchmaier webpage



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

LSE Business Review blog

Towards a modern UK industrial strategy

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

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

Related publications

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

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

Related links

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


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

Towards a new UK industrial strategy

CEP Growth

Richard Davies webpage

Anna Valero webpage



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

Jordan Times

The two pillars of French economic reform

Article by Philippe Aghion and Benedicte Berner

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

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


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

CEP Growth

Philippe Aghion webpage



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

CEP citations/impact

Brexit reading list: economic, business and transport policy issues’, Gloria Taylor, Briefing Paper No.07830, House of Commons Library

This paper provides information on and/or links to a selection of analysis, comment and

statistics on:

- Trade negotiations, tariffs and custom duties

- Domestic economic policy and public expenditure

- the EU budget, contributions, grants and loans

- Business and industry, state aid and SMEs,

- Employment, training, pay and the cost of living

- Regional economic development and transport

- Issues for Scotland, Wales and Northern Ireland.

 

There is also a list of Library briefing papers and parliamentary committee reports.

 

3. Trade

p.8 references ‘Four principles for the UK's Brexit trade negotiations’, Thomas Sampson, CEP Brexit Analysis, LSE, Paper CEPBREXIT09, October 2016

http://cep.lse.ac.uk/BREXIT/abstract.asp?index=5242


Related Links:
CEP citations/impact - Brexit reading list: economic, business and transport policy issues’, Gloria Taylor, Briefing Paper No.07830, House of Commons Library

CEP Trade

Thomas Sampson webpage



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

Pittsburgh Post-Gazette

David Brooks: The economy isn’t broken

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

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


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

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

Decoupling of Wage Growth and Productivity Growth? Myth and Reality

CEP Growth

John Van reenen webpage



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

City A.M.

Is a UK house price crash coming? The majority of people think so, survey finds

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


Related Links:
City A.M. - Is a UK house price crash coming? The majority of people think so, survey finds

CEP Urban and Spatial Programme

Paul Cheshire webpage



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

The Indiana Gazette

In reality the economy isn’t broken

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

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


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

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

Decoupling of Wage Growth and Productivity Growth? Myth and Reality

CEP Growth

John Van reenen webpage



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

Financial Times – Gavyn Davies’ blog

American growth pessimism may be overdone

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


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

Are Ideas Getting Harder to Find?

CEP Growth

Nick Bloom webpage

John Van reenen webpage



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

American Enterprise Institute

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

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


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

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

Decoupling of Wage Growth and Productivity Growth? Myth and Reality

CEP Growth

John Van reenen webpage



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

Stanford News

Stanford scholars say big ideas are getting harder to find

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


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

Are Ideas Getting Harder to Find?

CEP Growth

Nick Bloom webpage

John Van reenen webpage



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

IlSole24ore (Italy)

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

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


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

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

Ill Communication: Technology, Distraction & Student Performance

CEP Education and Skills

Richard Murphy webpage



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

Financial Times – Alphaville

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

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


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

Are Ideas Getting Harder to Find?

CEP Growth

Nick Bloom webpage

John Van reenen webpage



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

LSE Brexit blog

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

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


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

CEP Trade

Thomas Sampson webpage



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

The Conversation

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

Review

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

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

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

 


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

CEP Labour Markets

Jonathan Wadsworth webpage



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

Blasting News (Italy)

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

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


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

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

Ill Communication: Technology, Distraction & Student Performance

CEP Education and Skills

Richard Murphy webpage



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

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

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

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


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

CEP Trade

Nikhil Datta webpage

Swati Dhingra webpage



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

Fudzilla

Humanity is running out of ideas

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


Related Links:
Fudzilla - Humanity is running out of ideas

Are Ideas Getting Harder to Find?

CEP Growth

Nick Bloom webpage

John Van reenen webpage



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

LSE Business Review blog

The value of good management

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

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


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

In brief...The value of good management

What Drives Differences in Management?

CEP Growth

Nick Bloom webpage

John Van reenen webpage



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

Portfolio (Hungary)

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

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


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

Immigration and the UK Economy

Why immigration is no reason to leave the EU

Brexit and the Impact of Immigration on the UK

CEP Labour Markets CEP Trade CEP Growth

Swati Dhingra webpage

Gianmarco Ottaviano webpage

John Van reenen webpage

Jonathan Wadsworth webpage



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

Financial Times

The great trade reset

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


Related Links:
Financial Times - The great trade reset

CEP Trade

Nikhil Datta webpage

Swati Dhingra webpage



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

Amplo Creative – Business

Robots won’t take our jobs, but improve them

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


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

Robots at work: the impact on productivity and jobs

Robots at Work

CEP Labour Markets

Georg Graetz webpage

Guy Michaels webpage



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

Irish Times

Applying ancient solutions to modern problems

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


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

The Key Determinants of Happiness and Misery

CEP Wellbeing

Richard Layard webpage



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

GetReading

See how MPs for Berkshire voted in the Brexit Repeal Bill

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

Related publications

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

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


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

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



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

Evolve Politics

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

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


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

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

Ill Communication: Technology, Distraction & Student Performance

CEP Education and Skills

Richard Murphy webpage



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

The A Register

Boffins fear we might be running out of ideas

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

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


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

Are Ideas Getting Harder to Find?

CEP Growth

Nick Bloom webpage

John Van reenen webpage



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

BBC World Service

(11:40:07 PM)

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

Also on

BBC Radio 4


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

Home ownership and social mobility

Home Ownership and Social Mobility

CEP Labour Markets

Jo Blanden webpage

Stephen Machin webpage



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

Nelson Mail (New Zealand)

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

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


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

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

Ill Communication: Technology, Distraction & Student Performance

CEP Education and Skills

Richard Murphy webpage



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

LBC (Radio)

(1:00:01 pm)

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


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

Immigration and the UK Economy

CEP Labour Markets

Jonathan Wadsworth webpage



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

LSE News

What’s the secret to happiness?

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


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

CEP Wellbeing

Richard Layard webpage



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

Business 2 Community

Automation: the future of your business?

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


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

Robots at work: the impact on productivity and jobs

Robots at Work

CEP Labour Markets

Georg Graetz webpage

Guy Michaels webpage



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

The Orange County Register

Taxing robots will hurt California innovation and opportunity

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


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

Robots at work: the impact on productivity and jobs

Robots at Work

CEP Labour Markets

Georg Graetz webpage

Guy Michaels webpage



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

Financiero online (Spain)

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

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


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

CEP Growth

Philippe Aghion webpage



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

The Telegraph

Headteachers who resist teaching phonics are failing students, minister warns

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


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

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

"Teaching to Teach" Literacy

CEP Education and Skills

Stephen Machin webpage

Sandra Mcnally webpage



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

Spectator

Off days

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


Related Links:
Spectator - Off days

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

Ill Communication: Technology, Distraction & Student Performance

CEP Education and Skills

Richard Murphy webpage



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

Social Europe

How Bad Will Brexit Really Be For The UK?

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


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

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

CEP Growth CEP Trade

Swati Dhingra webpage

Gianmarco Ottaviano webpage

Thomas Sampson webpage

John Van reenen webpage



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

EUnited – Robotics: European Robotics Association

German robots – the impact of industrial robots on workers

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


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

Robots at work: the impact on productivity and jobs

Robots at Work

CEP Labour Markets

Georg Graetz webpage

Guy Michaels webpage



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

Newsreview.com

Are robots going to steal our jobs?

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


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

Robots at work: the impact on productivity and jobs

Robots at Work

CEP Labour Markets

Georg Graetz webpage

Guy Michaels webpage



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

CEP Journal Articles

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

10.1111/twec.12440  


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

Service Trade and Occupational Tasks: An Empirical Investigation

CEP Trade

Giordano Mion webpage



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

What Works Centre for Local Economic Growth blog

The local economic impacts of Brexit

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

Related publications

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

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

 


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

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



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

News Review

Are robots going to steal our jobs?

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


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

Robots at work: the impact on productivity and jobs

Robots at Work

CEP Labour Markets

Georg Graetz webpage

Guy Michaels webpage



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

Oxford Times

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

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

Related publications

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

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


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

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



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

Smart Company.com.au (Australia)

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

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


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

Does Working from Home Work? Evidence from a Chinese Experiment

CEP Growth

Nick Bloom webpage



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

Mail online

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

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


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

CEP Urban and Spatial Programme

Paul Cheshire webpage



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

LSEIQ podcast

Epsiode 6 | What’s the secret to happiness?

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

Related publications

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

http://worldhappiness.report/


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

CEP Wellbeing

Paul Dolan webpage

Richard Layard webpage



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

NZHerald

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

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


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

CEP Urban and Spatial Programme

Paul Cheshire webpage



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

LSE Public Affairs News

Student Immigration Figures

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

The study will: 

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

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

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

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


Related Links:
CEP Community

Alan Manning webpage



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

Conatus News

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

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

Related publications

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

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


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

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



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

Marginal Revolution

French cities are Roman sites rather than by the sea

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

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

Also in

Politics in theory and practice 

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

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

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

 

Bullfax 

French cities are Roman sites rather than by the sea

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

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

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

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


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

Resetting the Urban Network: 117-2012

CEP Labour Markets CEP Trade

Guy Michaels webpage

Ferdinand Rauch webpage



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

Financial Times

Low skills and poor infrastructure blamed for UK productivity gap

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


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

CEP Urban and Spatial Programme

Henry Overman webpage



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

The Economist

Blame Congress for high health-care costs

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


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

CEP Growth

Zack Cooper webpage



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

Mirror

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

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

Related links

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


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





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

Le Figaro

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

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


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

CEP Growth

Philippe Aghion webpage



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

Project Syndicate

The Two Pillars of French Economic Reform

Article by Philippe Aghion and Benedicte Berner

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

Also in

MENAFN

Two pillars of French economic reform

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

 

Jornal De Brasil

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

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


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

CEP Growth

Philippe Aghion webpage



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

Marginal Revolution

Flooded Cities

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


Related Links:
Marginal Revolution - Flooded Cities

Flooded Cities

Resetting the Urban Network: 117-2012

CEP Labour Markets CEP Trade

Guy Michaels webpage

Ferdinand Rauch webpage



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

Canadian Investment Opportunities & News

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

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


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

Measuring Economic Policy Uncertainty

CEP Growth

Nick Bloom webpage



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

Financial Mail

Mental health problems cost SA’s economy billions per year

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


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

CEP Wellbeing

Sara Evans-lacko webpage

Martin Knapp webpage



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

Education Week

Can Banning Phones in School Curb Cyberbullying?

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


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

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

Ill Communication: Technology, Distraction & Student Performance

CEP Education and Skills

Richard Murphy webpage



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

Guardian

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

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

Related publications

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

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


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

CEP Urban and Spatial Programme

Steve Gibbons webpage

Henry Overman webpage

Rosa Sanchis-guarner webpage



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

Gulf News

A unique experiment to treat mental illness

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


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

Cost-Benefit Analysis of Psychological Therapy

CEP Wellbeing

Richard Layard webpage

Martin Knapp webpage



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

A Fine Theorem

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

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


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

CEP Labour Markets CEP Trade

Guy Michaels webpage

Ferdinand Rauch webpage



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

Novara Media

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

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

 


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

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

CEP Wellbeing

Richard Layard webpage



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

Finfacts

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

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

 


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

CEP Urban and Spatial Programme

Paul Cheshire webpage



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

EamonnMallie.com

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

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

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

Related links

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


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





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

ilsole24ore

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

Article by Gianmarco Ottaviano

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


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

CEP Trade

Gianmarco Ottaviano webpage



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

New York Times

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

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

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

 


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

CEP Growth

John Van reenen webpage



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

Helensburgh Advertiser

Parents back idea of mobile phone classroom ban

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


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

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

Ill Communication: Technology, Distraction & Student Performance

CEP Education and Skills

Richard Murphy webpage



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

Guardian

The Guardian view on the new GCSEs: missing the point

Editorial

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

Related publications

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

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


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

Post-16 educational choices in England

Post-16 educational choices in England

CEP CVER CEP Education and Skills

Claudia Hupkau webpage

Sandra Mcnally webpage

Jenifer Ruiz-valenzuela webpage

Guglielmo Ventura webpage



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

The Gazette

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

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


Related Links:
The Gazette - Councils refuse to answer calls to ban mobile phones in primary schools

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

Ill Communication: Technology, Distraction & Student Performance

CEP Education and Skills

Richard Murphy webpage



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

Dumbarton and Vale of Leven Reporter

Schools impose ban on taking mobile phones into the classroom

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


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

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

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

CEP Education and Skills

Richard Murphy webpage



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

Politics.co.uk

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

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

Related publications

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

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

 


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

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



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

Economist

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

Patick Minford thinks that GDP could increase by 6.8%

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


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

‘ECONOMISTS FOR BREXIT’: A critique

CEP Trade CEP Growth

Swati Dhingra webpage

Gianmarco Ottaviano webpage

Thomas Sampson webpage

John Van reenen webpage



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

The Edinburg Review

Higher minimum wages will give high tech a boost

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

Related publications

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

Published August 2017

Available on the NBER website


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

CEP Wellbeing

Grace Lordan webpage



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

Country Living

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

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


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

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

CEP Wellbeing

Hannes Schwandt webpage



News Posted: 23/08/2017      [Back to the Top]

Aprendemas.com (Spain)

En busca de la felicidad: cursos gratuitos y claves para ser feliz /In search of happiness: free courses and keys to be happy

However, a recent study carried out at the London School of Economics shows that levels of happiness in a person's life follow a U-shaped pattern. This means that between the ages of 20 and 70, The maximum peaks of happiness in the life of any person would correspond with the 23 and the 69 years of age, concretely. Business Insider collated the data mainly based on scientific studies, including from the London School of Economics and MIT, and informal surveys - though the chart cannot conclusively represent the population as a whole.


Related Links:
Aprendemas.com (Spain) - En busca de la felicidad: cursos gratuitos y claves para ser feliz /In search of happiness: free courses and keys to be happy

Unmet Aspirations as an Explanation for the Age U-Shape in Human Wellbeing

CEP Wellbeing

Hannes Schwandt webpage



News Posted: 23/08/2017      [Back to the Top]

Harvard Business Review

Why do we undervalue competent management?

By Raffaella Sadun, Nicholas Bloom and John Van Reenen

In MBA programs, students are taught that companies can’t expect to compete on the basis of internal managerial competencies because they’re just too easy to copy. Operational effectiveness—doing the same thing as other companies but doing it exceptionally well—is not a path to sustainable advantage in the competitive universe. To stay ahead, the thinking goes, a company must stake out a distinctive strategic position—doing something different than its rivals. This is what the C-suite should focus on, leaving middle and lower-level managers to handle the nuts and bolts of managing the organization and executing plans.

Related publication

Harvard Business Review, September-October 2017 issue

https://hbr.org/archive-toc/BR1705


Related Links:
Harvard Business Review - Why do we undervalue competent management?

CEP Growth

Nick Bloom webpage

Raffaella Sadun webpage

John Van reenen webpage



News Posted: 23/08/2017      [Back to the Top]

US News

Study: Happiness is a U and Middle Age is Depressing

A new study suggests midlife "psychological low" points are a global phenomenon

Why people consistently report being near their most unhappy around the same age – across countries, incomes and demographics – has generated much debate. Hannes Schwandt, an assistant professor of economics at the University of Zurich, theorized back in 2013 that "the U-shape is caused by unmet expectations that are felt painfully in midlife."


Related Links:
US News - Study: Happiness is a U and Middle Age is Depressing

Unmet Aspirations as an Explanation for the Age U-Shape in Human Wellbeing

CEP Wellbeing

Hannes Schwandt webpage



News Posted: 22/08/2017      [Back to the Top]

Yahoo! Style

Leading economists say £135bn hard Brexit boost claim ‘defies gravity’

A leading quartet of economists have taken issue with a report by pro-Brexit counterparts that paints a rosy picture for Britain should the country leave the EU without any trade deals in place. The four professors at the London School of Economics say the vision outlined by their peers, led by Prof Patrick Minford at Cardiff University, simply does not add up.


Related Links:
Yahoo! Style - Leading economists say £135bn hard Brexit boost claim ‘defies gravity’

‘ECONOMISTS FOR BREXIT’: A critique

CEP Trade CEP Growth

Swati Dhingra webpage

Gianmarco Ottaviano webpage

Thomas Sampson webpage

John Van reenen webpage



News Posted: 22/08/2017      [Back to the Top]

City A.M.

DEBATE: Is the Economists for Free Trade £135bn figure realistic?

“NO – Thomas Sampson, assistant professor of economics at the London School of Economics.

Economists for Free Trade’s estimate is misleading nonsense. It is based on an economic model that bears no relation to the facts of the global economy and, consequently, is contradicted by the data on international trade. Most importantly, the Economists for Free Trade fail to take into account that trade costs are higher when the UK trades with more distant countries and that consumers care about where goods are made …”


Related Links:
City A.M. - DEBATE: Is the Economists for Free Trade £135bn figure realistic?

CEP Trade

Thomas Sampson webpage



News Posted: 22/08/2017      [Back to the Top]

CEP on Twitter

Deputy Leader of SNP group in Westminster and SNP Economy spokesman Kirsty Blackman MSP retweeted LSE: RT @KirstySNP:

Here's a piece from LSE debunking Prof Minford's post-Brexit trade theories and a quote from him about industry – see http://blogs.lse.ac.uk/politicsandpolicy/the-britain-alone-scenario-how-economists-for-brexit-defy-the-laws-of-gravity/.


Related Links:
CEP on Twitter - Deputy Leader of SNP group in Westminster and SNP Economy spokesman Kirsty Blackman MSP retweeted LSE: RT @KirstySNP:

‘ECONOMISTS FOR BREXIT’: A critique

CEP Trade CEP Growth

Swati Dhingra webpage

Gianmarco Ottaviano webpage

Thomas Sampson webpage

John Van reenen webpage



News Posted: 21/08/2017      [Back to the Top]

fDi Magazine

The Brexit toll on FDI: The evidence so far 22:42

Foreign investment has dropped sharply since the June 2016's referendum as investors are holding off investments waiting for more clarity on the future of the country outside the EU. LSE’s lecturer Dr Swati Dhingra and fDi Magazine’s editor-in-chief Courtney Fingar share their insights with podcast host Jacopo Dettoni and comment on the proposal of developing free trade zones within British ports once the country leaves the European bloc for good.

Related links

Swati Dhingra CEP publications webpage:  http://cep.lse.ac.uk/_new/publications/author.asp?author=dhingra


Related Links:
fDi Magazine - The Brexit toll on FDI: The evidence so far 22:42

CEP Trade

Swati Dhingra webpage



News Posted: 21/08/2017      [Back to the Top]

Huffington Post

Economist Who Claims £135billion Hard Brexit Boost For UK Guilty Of ‘Violence To Basic Facts Of Economic Life’

The policy, known as ‘Britain Alone’, was savaged by The Centre for Economic Performance at the London School of Economics, which suggested Minford’s work disregarded 40 years of established theory.


Related Links:
Huffington Post - Economist Who Claims £135billion Hard Brexit Boost For UK Guilty Of ‘Violence To Basic Facts Of Economic Life’

‘ECONOMISTS FOR BREXIT’: A critique

CEP Trade CEP Growth

Swati Dhingra webpage

Gianmarco Ottaviano webpage

Thomas Sampson webpage

John Van reenen webpage



News Posted: 21/08/2017      [Back to the Top]

Die Presse

EU-Erweiterung war ein gutes Geschäft / EU enlargement was a good deal

The fact that the EU's eastern enlargement to the EU in 2004 was a win-win for the "old" 15 Member States of the Union as well as for the newcomers in Central and Eastern Europe is clear in view of the overall positive economic figures. A four-member research team has now investigated the extent to which the prosperity gains for the citizens of the old and new Member States and for high and low-skilled workers were achieved. In a recently published study, Lorenzo Caliendo (Yale University), Luca David Opromolla (Banco de Portugal), Fernando Parro (Johns Hopkins University) and Alessandro Sforza (London School of Economics) concluded that the prosperity gains were unequally distributed.

Related publications

“Goods and Factor Market Integration: A Quantitative Assessment of the EU Enlargement”, Luca D. Opromolla, Fernando Parro, Alessandro Sforza. August 2017. http://faculty.som.yale.edu/lorenzocaliendo/COPS.pdf


Related Links:
Die Presse - EU-Erweiterung war ein gutes Geschäft / EU enlargement was a good deal

CEP Trade

Alessandro Sforza webpage



News Posted: 21/08/2017      [Back to the Top]

In Facts - Stop destructive Brexit

BBC gifts Brexit economists too much credibility

The views of Economists for Brexit / Free Trade have repeatedly been rebuffed elsewhere, for example in a report by a group of economists at the LSE’s Centre for Economic Performance. They predict a 2.3% economic loss from Minford’s policy, rather than the 4% gain he claims. They argue Minford “misunderstands the nature of regulations and product standards”, seeing harmonisation across the EU as a “pernicious plot by vested interests to raise prices” rather than a proven way to increase trade and competition in a modern economy. They also reject Minford’s assumptions that countries will buy only from the lowest-cost supplier and not consider other factors such as geographic proximity, transport costs and quality. The economists conclude that “theories need grounding in facts, not ideology”.


Related Links:
In Facts - Stop destructive Brexit - BBC gifts Brexit economists too much credibility

‘ECONOMISTS FOR BREXIT’: A critique

CEP Trade CEP Growth

Swati Dhingra webpage

Gianmarco Ottaviano webpage

Thomas Sampson webpage

John Van reenen webpage



News Posted: 21/08/2017      [Back to the Top]

Yahoo! Finance

Leading economists say £135bn hard Brexit boost claim 'defies gravity'

The LSE quartet – professors Thomas Sampson, Swati Dhingra, Gianmarco Ottaviano and John Van Reenen – do concede that there is, potentially, a very minor boost to going it alone.

Their own models suggest that should the UK leave the bloc and trade under WTO rules, maintaining import tariffs, income per person falls by 2.6%. Under the ‘Britain alone’ scenario of unilateral liberalisation after Brexit, UK real incomes still fall by 2.3%....


Related Links:
Yahoo! Finance - Leading economists say £135bn hard Brexit boost claim 'defies gravity'

BREXIT 2016: Policy Analysis from the Centre for Economic Performance

CEP Growth CEP Trade

Holger Breinlich webpage

Swati Dhingra webpage

Hanwei Huang webpage

Gianmarco Ottaviano webpage

Thomas Sampson webpage

John Van reenen webpage



News Posted: 21/08/2017      [Back to the Top]

HR Dive

Minimum-wage boosts only encourage more bots, researchers say

Two economists said they've found new evidence that minimum-wage hikes force employers to automate low-skilled workers' jobs, reports CNBC. According to David Neumark of UC Irvine and Grace Lordan of the London School of Economics, the low-skilled workers hit hardest by unemployment are young, old, black and female. The research defined low-skilled workers as those with a high school education or less.

Related publications

People Versus Machines: The Impact of Minimum Wages on Automatable Jobs

Published August 2017. Available on the NBER website


Related Links:
HR Dive - Minimum-wage boosts only encourage more bots, researchers say

CEP Wellbeing

Grace Lordan webpage



News Posted: 21/08/2017      [Back to the Top]

FTChinese.com

How do technology companies contribute to alleviating inequality?

More importantly, most of the wealth control of US companies is not one of the few top industries, but a few top companies. 10% of the most profitable US companies are 8 times the average profit of the average company. In the nineties of last century, this value is only three times. Those companies that are financially profitable pay high salaries to their employees, but their competitors are not able to provide the same treatment. In fact, the research results at the Institute of Labor Economics, based in Bonn, show that the pay gap between individual workers has not been due to the company since the 1970s, The pay gap between companies. Another study of the Center for Economic Performance at the London School of Economics and Political Science (LSE) shows that the pay gap between top companies and other companies is the cause of most of the pay inequality in American society.

Related publications

'Measuring Economic Policy Uncertainty', Scott R. Baker, Nicholas Bloom, Steven J. Davis, The Quarterly Journal of Economics, Vol 131, Issue 4, November 2016


Related Links:
FTChinese.com - How do technology companies contribute to alleviating inequality?

Fluctuations in Uncertainty

Economic Recovery and Policy Uncertainty

Policy uncertainty: a new indicator

CEP Growth

Nick Bloom webpage

John Van reenen webpage



News Posted: 21/08/2017      [Back to the Top]

Teraz.sk (Slovak)

The departure of Britain from the EU without agreement would not be a disaster by the IEA

"Compared to the results that would result from trading between the UK and the EU under WTO rules, unilateral liberalization (non-imposition of duties) would provide the United Kingdom with benefits because it would reduce its import costs," said Thomas Sampson, London School of Economist Economics, who did not see the IEA report.


Related Links:
Teraz.sk (Slovak) - The departure of Britain from the EU without agreement would not be a disaster by the IEA

CEP Trade

Thomas Sampson webpage



News Posted: 19/08/2017      [Back to the Top]

Vox

Smaller firms suffer far more from organised, mafia-style crime

Article by Roberto Ganau and Andrés Rodríguez-Pose

Whether organised crime undermines productivity has been studied extensively in broad terms, but not at the firm level. This column uses extensive firm-level data from across Italy to suggest that this is firmly the case, both through direct and indirect channels. The results point to a substantial negative direct effect of organised crime on firms' productivity growth. Moreover, any positive impact derived from industrial clustering and agglomeration economies is thoroughly debilitated by a strong presence of organised criminality.

Related publications

Ganau, R and A Rodríguez-Pose (2017), “Industrial clusters, organized crime and productivity growth in Italian SMEs”, Journal of Regional Science, forthcoming

Related links

Andrés Rodríguez-Pose webpage

Urban and Spatial Programme webpage


Related Links:
Vox - Smaller firms suffer far more from organised, mafia-style crime





News Posted: 19/08/2017      [Back to the Top]

Property Industry Eye

When 140 characters just isn’t enough to debate Stamp Duty

Snippet.. Professor Christian Hilber, who co-authored the LSE research, then joined in, adding: “It’s (Stamp Duty) not the main problem – the planning system is – but it contributes.”

          Related publications

‘Transfer Taxes and Household Mobility: Distortion on the Housing or Labor Market?’, Christian A.L. Hilber and Teemu Lyytikäinen, SERC Discussion Paper No.216, June 2017

http://www.spatialeconomics.ac.uk/textonly/SERC/publications/download/sercdp0216.pdf


Related Links:
Property Industry Eye - When 140 characters just isn’t enough to debate Stamp Duty

CEP Urban and Spatial Programme

Christian Hilber webpage



News Posted: 18/08/2017      [Back to the Top]

Bloomberg

'No Deal' With EU No Disaster for Post-Brexit U.K., Says Report

“Compared to an outcome in which the U.K. and the EU traded under WTO terms, there would be benefits for the U.K. to unilaterally liberalizing as it would reduce the cost of imports,” said Thomas Sampson, an economist at the London School of Economics, who hadn’t seen the IEA report. “The cost is you’re giving away the bargaining chip that you would normally use to get concessions out of the EU.”


Related Links:
Bloomberg - 'No Deal' With EU No Disaster for Post-Brexit U.K., Says Report

CEP Trade

Thomas Sampson webpage



News Posted: 18/08/2017      [Back to the Top]

Le Monde (France)

Le toast à l’avocat, un en-cas qui pourrait coûter cher / Avocado toast, a snack that could be expensive

"The phenomenon is linked to social phenomena often neglected when analyzing food behaviors," notes Clément Bellet, post-doctoral student at the London School of Economics. (Etc ...) "

(Access to the entire article is protected).
 


Related Links:
Le Monde (France) - Le toast à l’avocat, un en-cas qui pourrait coûter cher / Avocado toast, a snack that could be expensive

CEP Wellbeing

Clement Bellet webpage



News Posted: 18/08/2017      [Back to the Top]

What Works Centre for Local Economic Growth blog

Shedding new light on innovation policy

Article by Max Nathan:  ...Our latest case study summarises Innovate UK's programmes of support for microbusinesses and SMEs: mainly grants but also loans, awarded on a competitive basis, either to individual firms, or to promote partnerships with other companies or with universities.


Related Links:
What Works Centre for Local Economic Growth blog - Shedding new light on innovation policy

CEP Urban and Spatial Programme

Max Nathan webpage



News Posted: 17/08/2017      [Back to the Top]

MarketWatch

Raising the minimum wage leads workers in these industries to be replaced by robots

A sharp minimum wage increase in the U.S. will most severely impact low-skilled workers, according to an analysis of U.S. Census Bureau “Current Population Survey” data from 1980 to 2015 by economists Grace Lordan from the London School of Economics and David Neumark from the University of California at Irvine. “The findings imply that groups often ignored in the minimum wage literature are in fact quite vulnerable to employment changes and job loss because of automation following a minimum wage increase,” the paper — distributed by the National Bureau of Economic Research in Cambridge, Mass. — concluded.

Related publications

People Versus Machines: The Impact of Minimum Wages on Automatable Jobs

Published August 2017

Available on the NBER website


Related Links:
MarketWatch - Raising the minimum wage leads workers in these industries to be replaced by robots

CEP Wellbeing

Grace Lordan webpage



News Posted: 17/08/2017      [Back to the Top]

Yahoo!Finance

Here's new evidence minimum wage hikes result in workers being replaced by robots

There is new evidence that raising the minimum wage pushes business owners to replace low-skilled workers with automation. And it shows that old, young, female and black low-skilled workers face the highest levels of unemployment after a minimum-wage increase. Economists Grace Lordan of the London School of Economics and David Neumark of UC Irvine studied 35 years of government census data for their working paper, which was released in August, titled "People Versus Machines: The Impact of Minimum Wages on Automatable Jobs."


Related Links:
Yahoo!Finance - Here's new evidence minimum wage hikes result in workers being replaced by robots

CEP Wellbeing

Grace Lordan webpage



News Posted: 17/08/2017      [Back to the Top]

Independent

A View from the Top: Sir Richard Blundell, feted economist and possible future Nobel prize winner

Snippet: ... “John Van Reenen, one of Blundell's former PHD students (and now a distinguished economist in his own right at the Massachusetts Institute of Technology), argues that one of Blundell's major contributions has been to use econometric techniques and micro-economic data to analyse and improve public policy. He singles out the example of Labour's 1999 New Deal for Young People, which Blundell's research showed was having a big positive effect…”


Related Links:
Independent - A View from the Top: Sir Richard Blundell, feted economist and possible future Nobel prize winner

CEP Growth

John Van reenen webpage



News Posted: 17/08/2017      [Back to the Top]

American Journal of Transportation

'No Deal’ With EU No Disaster for Post-Brexit U.K., Says Report

“Compared to an outcome in which the U.K. and the EU traded under WTO terms, there would be benefits for the U.K. to unilaterally liberalizing as it would reduce the cost of imports,” said Thomas Sampson, an economist at the London School of Economics, who hadn’t seen the IEA report. “The cost is you’re giving away the bargaining chip that you would normally use to get concessions out of the EU.”


Related Links:
American Journal of Transportation - 'No Deal’ With EU No Disaster for Post-Brexit U.K., Says Report

CEP Trade

Thomas Sampson webpage



News Posted: 17/08/2017      [Back to the Top]

CNBC online

Here's new evidence minimum-wage hikes result in workers being replaced by robots

There is new evidence that raising the minimum wage pushes business owners to replace low-skilled workers with automation. And it shows that old, young, female and black low-skilled workers face the highest levels of unemployment after a minimum-wage increase.

Economists Grace Lordan of the London School of Economics and David Neumark of UC Irvine studied 35 years of government census data for their working paper, which was released in August, titled "People Versus Machines: The Impact of Minimum Wages on Automatable Jobs."

Related publications

People Versus Machines: The Impact of Minimum Wages on Automatable Jobs

Published August 2017. Available on the NBER website


Related Links:
CNBC online - Here's new evidence minimum-wage hikes result in workers being replaced by robots

CEP Wellbeing

Grace Lordan webpage



News Posted: 17/08/2017      [Back to the Top]

The Record.com

One U.S. factory goes global, while Trump shrinks the world

Trump's efforts to bring work back to the U.S. could eliminate some jobs that are already here. "Altering NAFTA could fundamentally change the production of the economy — for the U.S., as well as for Mexico — and that will be very disruptive," said Swati Dhingra, an economist at the London School of Economics. "Many of the policies being proposed could end up hurting the people who are being left behind."


Related Links:
The Record.com - One U.S. factory goes global, while Trump shrinks the world

CEP Trade

Swati Dhingra webpage



News Posted: 16/08/2017      [Back to the Top]

Kingdom FM

Kingdom FM [14:00:01]

Mention of LSE study that found banning mobile phones from classrooms improved test scores.

Click to open


Related Links:
In brief... Phone home: should mobiles be banned in schools?

Ill Communication: Technology, Distraction & Student Performance

CEP Education and Skills

Richard Murphy webpage



News Posted: 16/08/2017      [Back to the Top]

Econotimes

Government study warns minimum wage hike leads to automation job loss

The main people behind the study are London School of Economics’ Grace Lordan and University of California, Irvine’s David Neumark. Their conclusion is that “low-skilled” workers are at risk of losing their livelihood with a wage increase simply because their jobs could be replaced by automation.

Related publications

People Versus Machines: The Impact of Minimum Wages on Automatable Jobs

Published August 2017

Available on the NBER website


Related Links:
Econotimes - Government study warns minimum wage hike leads to automation job loss

CEP Wellbeing

Grace Lordan webpage



News Posted: 16/08/2017      [Back to the Top]

24/7 Wall St

Report says mandated wage hikes accelerate introduction of technology in workplace

New research indicates that minimum-wage laws have forced companies to accelerate the introduction of technology in the workplace, hurting American workers in mostly low-skilled jobs. The findings come from a working paper published by the National Bureau of Economic Research (NBER) called “People Versus Machines: The Impact of Minimum Wages on Automatable Jobs,” by Grace Lordan and David Neumark.

Related publications

People Versus Machines: The Impact of Minimum Wages on Automatable Jobs

Published August 2017

Available on the NBER website


Related Links:
24/7 Wall St - Report says mandated wage hikes accelerate introduction of technology in workplace

CEP Wellbeing

Grace Lordan webpage



News Posted: 16/08/2017      [Back to the Top]

The Daily Caller

$1 increase in minimum wage would cost thousands of jobs

A $1 increase in the federal minimum wage could cost the national economy tens of thousands of jobs, according to a new study by economists Grace Lordan of the London School of Economics and David Neumark of the University of California, Irvine. The economists sourced through 35 years of data and found that increasing the minimum wage incentivizes firms to automate low-skilled labor–the very individuals who would stand to benefit the most from even marginal increases in compensation. The pair focused on workers with only a high school degree, as this group is largely the target of minimum wage laws.

Related publications

People Versus Machines: The Impact of Minimum Wages on Automatable Jobs

Published August 2017

Available on the NBER website


Related Links:
The Daily Caller - $1 increase in minimum wage would cost thousands of jobs

CEP Urban and Spatial Programme

Grace Lordan webpage



News Posted: 16/08/2017      [Back to the Top]

This is Money.co.uk

Stamp duty is making the housing crisis worse as older homeowners stay put to avoid it - and families can't move up the property ladder

Stamp duty is making the housing crisis worse because it is deterring older homeowners from downsizing, it has been claimed. A report by the London School of Economics and the VATT Institute for Economic Research claimed that the rate of home moving would be 27 per cent higher if the levy was completely abolished….Professor Christian Hilber, who co-authored the report, said: 'Stamp duty discourages young expanding families from moving to more adequate, larger housing and it discourages the elderly from downsizing.

Related publications

‘Transfer Taxes and Household Mobility: Distortion on the Housing or Labor Market?’, Christian A.L. Hilber and Teemu Lyytikäinen, SERC Discussion Paper No.216, June 2017

http://www.spatialeconomics.ac.uk/textonly/SERC/publications/download/sercdp0216.pdf


Related Links:
This is Money.co.uk - Stamp duty is making the housing crisis worse as older homeowners stay put to avoid it - and families can't move up the property ladder

CEP Urban and Spatial Programme

Christian Hilber webpage



News Posted: 16/08/2017      [Back to the Top]

CNN (TV)

Rosemary Church

Dennis Novy gave a live TV interview to CNN (host: Rosemary Church). The topic was the economic impact of Brexit, in particular a potential brain drain from the UK jobs market and the proposed post-Brexit customs arrangement with the European Union.

 

 


Related Links:
CNN (TV) - Rosemary Church

CEP Trade

Dennis Novy webpage



News Posted: 16/08/2017      [Back to the Top]

Vox

Missing growth: How imputation and creative destruction affect TFP measurement

Article by Philippe Aghion, Antonin Bergeaud, Timo Boppart, Peter Klenow, Huiyu Li 

Slowing growth of total factor productivity has led some to suggest that the world is running out of ideas for innovation. This column suggests that the way output is measured is vital to assessing this, and quantifies the role of imputation in output measurement bias. By differentiating between truly ‘new’ and incumbent products, it finds missing growth in the US economy. Accounting for this missing growth will allow statistical offices to improve their methodology and more readily recognise the ready availability of new ideas, but also has implications for optimal growth and inflation targeting policies…


Related Links:
Vox - Missing growth: How imputation and creative destruction affect TFP measurement

CEP Growth

Philippe Aghion webpage



News Posted: 16/08/2017      [Back to the Top]

City A.M.

Instilling competitive gender quotas could end the Crisis of the Mediocre Men

…A paper in the latest American Economic Review (AER) provides an intriguing perspective on the issue.

Tim Besley of the LSE and two Swedish colleagues carried out a very detailed empirical analysis of elections in Sweden over a 20 year period. The title effectively summarises their work: Gender Quotas and the Crisis of the Mediocre Man.

Related publications

“Gender Quotas and the Crisis of the Mediocre Man: Theory and Evidence from Sweden”

Timothy Besley, Olle Folke, Torsten Persson, Johanna Rickne. American Economic Review, vol. 107, no. 8, August 2017. https://www.aeaweb.org/articles?id=10.1257/aer.20160080&&from=f


Related Links:
City A.M. - Instilling competitive gender quotas could end the Crisis of the Mediocre Men

CEP Trade



News Posted: 16/08/2017      [Back to the Top]

radioszczecin.pl

Wielka Brytania chce okresu przejściowego. Komentarze po dokumencie rządu / Britain wants a transition period. Comments after government document

The British government has issued a document on Tuesday expressing its willingness to ensure both sides have the greatest stability for several years after the Brexite, and at the same time it was time for London to negotiate agreements with the United States or India. Dr. Thomas Sampson, however, believes that the plan is too ambitious. - I would be very surprised if the Union and London reached an agreement before March 2019. I expect that this transition period will primarily serve to get more time to complete the negotiations, rather than simply putting into effect their results. Until we know what the deal looks like, it will be very difficult for Britain to make a commitment to other countries, "says Thomas Sampson.


Related Links:
radioszczecin.pl - Wielka Brytania chce okresu przejściowego. Komentarze po dokumencie rządu / Britain wants a transition period. Comments after government document

CEP Trade

Thomas Sampson webpage



News Posted: 16/08/2017      [Back to the Top]

Developpez.com (France)

Une augmentation du Smic favorise l'automatisation et le chômage dans les métiers automatisables / An increase in the SMIC promotes automation and unemployment in automated trades

In a new study, two economists, Grace Lordan of the London School of Economics and David Neumark of the University of California at Irvine, analyzed 35 years of census data from the United States. The data cover the period 1980 to 2015. The objective was to study the effect of minimum wage increases on employment in automatable jobs…

Related publications

People Versus Machines: The Impact of Minimum Wages on Automatable Jobs

Published August 2017

Available on the NBER website


Related Links:
Developpez.com (France) - Une augmentation du Smic favorise l'automatisation et le chômage dans les métiers automatisables / An increase in the SMIC promotes automation and unemployment in automated trades

CEP Wellbeing

Grace Lordan webpage



News Posted: 16/08/2017      [Back to the Top]

The Record.com

One U.S. factory goes global, while Trump shrinks the world

"Altering NAFTA could fundamentally change the production of the economy — for the U.S., as well as for Mexico — and that will be very disruptive," said Swati Dhingra, an economist at the London School of Economics. "Many of the policies being proposed could end up hurting the people who are being left behind."…

Related links

Swati Dhingra CEP publications webpage:  http://cep.lse.ac.uk/_new/publications/author.asp?author=dhingra


Related Links:
The Record.com - One U.S. factory goes global, while Trump shrinks the world

CEP Trade

Swati Dhingra webpage



News Posted: 16/08/2017      [Back to the Top]

CNN

CNN Live

Dennis Novy gave a live TV interview to CNN (host: Rosemary Church). The topic was the economic impact of Brexit, in particular a potential brain drain from the UK jobs market and the proposed post-Brexit customs arrangement with the European Union.


Related Links:
CNN - CNN Live

CEP Trade

Dennis Novy webpage



News Posted: 16/08/2017      [Back to the Top]

BBC News

Call for mobile phone ban in Scottish primary schools

Mobile phones should be banned from primary schools, according to the Scottish Conservatives.

Scottish Conservative MSP Michelle Ballantyne urged the government to overhaul this guidance, calling for an outright ban on phones in primary schools and the introduction of restrictions on their use in secondary schools if head teachers deem it necessary. The South Scotland MSP highlighted research from academics at the London School of Economics into the impact of banning phones in high schools in England.


Related Links:
BBC News - Call for mobile phone ban in Scottish primary schools

In brief... Phone home: should mobiles be banned in schools?

Ill Communication: Technology, Distraction & Student Performance

CEP Education and Skills

Richard Murphy webpage



News Posted: 16/08/2017      [Back to the Top]

Times of Tunbridge Wells

Report claims Brexit will sting whatever guise it comes in…

THE economies of both Tunbridge Wells and Tonbridge will suffer in the coming years due to Brexit, a new report by the London School of Economics claims. Titled The Local Economic Effects of Brexit, the study shows every authority in the UK will see its prosperity curtailed regardless of whether it is a ‘hard’ or ‘soft’ Brexit. According to the report, if the UK was to undertake a ‘hard Brexit’, then in the ten years after crashing out of the EU the economy of Tunbridge Wells will be 2.6 per cent smaller than if it had stayed in. … The report’s authors, who work for the university’s Centre for Economic Performance, state they have modelled their estimates on ‘medium to long run impact of changes to trade costs’, and have ignored effects on innovation, immigration and inward investment.

Related publications

‘Brexit, Trade and the Economic Impacts on UK Cities’, Naomi Clayton and Henry Overman, Centre for Cities briefing, July 2017

http://www.centreforcities.org/wp-content/uploads/2017/07/17-07-26-Brexit-trade-and-the-economic-impacts-on-UK-cities.pdf


Related Links:
Times of Tunbridge Wells - Report claims Brexit will sting whatever guise it comes in…

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 16/08/2017      [Back to the Top]

Scottish Daily Mail

Heads 'need to be able to ban phones'

Snippet: ...Scottish MSP Michelle Ballantyne highlighted research by academics at the London School of Economics into the impact of banning mobile phones in schools. The authors concluded schools that restrict access to mobile phones ‘subsequently experience an improvement in test scores’ and it ‘improves outcomes for the low-achieving students the most’.

Related Publications

In brief ... Phone home: should mobiles be banned in schools?, Louis-Philippe Beland and Richard Murphy, CentrePiece Volume 20, Issue 1, Summer 2015

 


Related Links:
Scottish Daily Mail - Heads 'need to be able to ban phones'

In brief... Phone home: should mobiles be banned in schools?

CEP Education and Skills

Richard Murphy webpage



News Posted: 16/08/2017      [Back to the Top]

Bankier (Poland)

Expert: Britain wants to speed up trade talks with brexitas

Dr Thomas Sampson of the London School of Economics (LSE) said on Tuesday that the publication of UK government plans for a transition period and regulations after the breit suggests that London wants to speed up talks on a future free trade agreement with the EU.

Related Links:
Bankier (Poland) - Expert: Britain wants to speed up trade talks with brexitas

CEP Trade

Thomas Sampson webpage



News Posted: 15/08/2017      [Back to the Top]

Manchester University Policy Blog

Is having any job at all better for your health and wellbeing than being unemployed?

Snippet.. There seems to be a common consensus that anything is better than being unemployed – even working in a job that does not pay well and in which you have little control over your working conditions, such as the hours that you work. Economists such as Lord Richard Layard have emphasised the need to get people out of unemployed states as “(almost) any job is better than no job”.


Related Links:
Manchester University Policy Blog - Is having any job at all better for your health and wellbeing than being unemployed?

CEP Wellbeing

Richard Layard webpage



News Posted: 15/08/2017      [Back to the Top]

TVN24bis.pl

"Londyn chce przyspieszenia rozmów o handlu po brexicie" / "London wants to speed up talks about trade after brexit"

Dr Thomas Sampson of the London School of Economics (LSE) said that the publication of the UK government's plans for a transition period and regulations after the breit suggests that London wants to speed up talks on a future free trade agreement with the European Union.

Also in

PolskieRadio.pl

Ekspert: pobrexitowy okres przejściowy nie pomoże Londynowi w zawieraniu umów z krajami pozaeuropejskimi / Expert: The transitional transition will not help London in concluding agreements with non-European countries

The London-backed transition period will not help the United Kingdom in entering into new trade agreements with countries outside the European Union, "said Thomas Sampson, an economist at the London School of Economics.

http://www.polskieradio.pl/5/3/Artykul/1818996,Ekspert-pobrexitowy-okres-przejsciowy-nie-pomoze-Londynowi-w-zawieraniu-umow-z-krajami-pozaeuropejskimi


Related Links:
TVN24bis.pl - "Londyn chce przyspieszenia rozmów o handlu po brexicie" / "London wants to speed up talks about trade after brexit"

CEP Trade

Thomas Sampson webpage



News Posted: 15/08/2017      [Back to the Top]

Futurism

Study Shows That Minimum Wage Hikes Put More Jobs at Risk of Automation

The desire for a higher wage is pretty self explanatory. However, the impact a minimum wage increase could have on society is not so clear.

In an effort to shed light on this subject, researchers at the National Bureau of Economic Research (NBER) conducted a study, and they’ve concluded that a minimum wage hike might not necessarily lead to happier workers. In fact, it could lead to fewer workers as such an increase has historically resulted in the loss of more jobs to automation.

For this study, authors Grace Lordan of the London School of Economics and David Neumark of the University of California, Irvine looked at minimum wage changes in the United States from 1980 to 2015. They realized that these changes affected the number of so-called “low-skill” or minimum wage jobs — such as packing boxes or using sewing machines — in various industries in the country.

Related publications

People Versus Machines: The Impact of Minimum Wages on Automatable Jobs

Published August 2017

Available on the NBER website


Related Links:
Futurism - Study Shows That Minimum Wage Hikes Put More Jobs at Risk of Automation

CEP Wellbeing

Grace Lordan webpage



News Posted: 15/08/2017      [Back to the Top]

BBC TV

Victoria Derbyshire

Dr Swati Dhingra talks about the customs union plan.

Related links

Swati Dhingra CEP publications webpage:  http://cep.lse.ac.uk/_new/publications/author.asp?author=dhingra


Related Links:
BBC TV - Victoria Derbyshire

CEP Trade

Swati Dhingra webpage



News Posted: 15/08/2017      [Back to the Top]

Bloomberg News online

How low can you go? Economists game out U.S. unemployment bounds

Grandma got replaced by a robot

Old, lower-skilled manufacturing employees lose jobs to robots amid minimum wage increases, new research from the University of California at Irvine’s David Neumark and London School of Economics’ Grace Lordan shows. It’s a well-told story that sudden wage hikes spur job loss, and the innovation here is that the authors dig into just where those cuts happen. A $1 increase in the minimum wage decreases the share of low-skilled automate-able jobs by 0.43 percentage point, the authors find, but in manufacturing that jumps to 0.99 percentage point, and the share of older workers declines most sharply (women and black workers also post big drops).

Related publications

People Versus Machines: The Impact of Minimum Wages on Automatable Jobs

Published August 2017

Available on the NBER website


Related Links:
Bloomberg News online - How low can you go? Economists game out U.S. unemployment bounds

CEP Wellbeing

Grace Lordan webpage



News Posted: 15/08/2017      [Back to the Top]

Fox Business

U.K. proposes broad customs deal with EU after Brexit – 2nd update

Also, the U.K. paper isn't a negotiating document and presented technical ideas that weren't fully developed and lacked significant detail. The two long-term approaches "are worth exploring further, but the hard work of assessing whether these ideas could work in practice has yet to be done," wrote Thomas Sampson of the London School of Economics in a blog.

Related article

LSE Brexit blog

UK government’s customs position paper fails to answer key questions

The UK government’s new position paper on future customs arrangements sets out its objectives for how goods trade with the EU will be governed following Brexit. However, as Thomas Sampson from the LSE’s Centre for Economic Performance outlines below, the proposal is incomplete and leaves unanswered five key questions about the UK’s position.

http://blogs.lse.ac.uk/brexit/2017/08/15/uk-governments-customs-position-paper-fails-to-answer-key-questions/


Related Links:
Fox Business - U.K. proposes broad customs deal with EU after Brexit – 2nd update

CEP Trade

Thomas Sampson webpage



News Posted: 15/08/2017      [Back to the Top]

4-traders

U.K. proposes broad customs deal with EU after Brexit – 2nd update

LONDON -- The U.K. government proposed a far-reaching customs arrangement with the European Union that it said would eliminate the need for border checks on imports and exports after Brexit. The "new customs partnership" with the EU was one of two suggestions the government put forward on Tuesday in a paper detailing its thinking on customs before resuming talks with Brussels this month over terms of Britain's withdrawal from the EU. … Also, the U.K. paper isn't a negotiating document and presented technical ideas that weren't fully developed and lacked significant detail. The two long-term approaches "are worth exploring further, but the hard work of assessing whether these ideas could work in practice has yet to be done," wrote Thomas Sampson of the London School of Economics in a blog.

Related article

LSE Brexit blog

UK government’s customs position paper fails to answer key questions

The UK government’s new position paper on future customs arrangements sets out its objectives for how goods trade with the EU will be governed following Brexit. However, as Thomas Sampson from the LSE’s Centre for Economic Performance outlines below, the proposal is incomplete and leaves unanswered five key questions about the UK’s position.

http://blogs.lse.ac.uk/brexit/2017/08/15/uk-governments-customs-position-paper-fails-to-answer-key-questions/


Related Links:
4-traders - U.K. proposes broad customs deal with EU after Brexit – 2nd update

CEP Trade

Thomas Sampson webpage



News Posted: 15/08/2017      [Back to the Top]

LSE Brexit blog

UK government’s customs position paper fails to answer key questions

The UK government’s new position paper on future customs arrangements sets out its objectives for how goods trade with the EU will be governed following Brexit. However, as Thomas Sampson from the LSE’s Centre for Economic Performance outlines below, the proposal is incomplete and leaves unanswered five key questions about the UK’s position.

 

Related article

LSE Brexit blog

UK government’s customs position paper fails to answer key questions

The UK government’s new position paper on future customs arrangements sets out its objectives for how goods trade with the EU will be governed following Brexit. However, as Thomas Sampson from the LSE’s Centre for Economic Performance outlines below, the proposal is incomplete and leaves unanswered five key questions about the UK’s position.

http://blogs.lse.ac.uk/brexit/2017/08/15/uk-governments-customs-position-paper-fails-to-answer-key-questions/


Related Links:
LSE Brexit blog - UK government’s customs position paper fails to answer key questions

CEP Trade

Thomas Sampson webpage



News Posted: 15/08/2017      [Back to the Top]

CNBC online

One US factory goes global, while Trump shrinks the world

"Altering Nafta could fundamentally change the production of the economy — for the U.S., as well as for Mexico — and that will be very disruptive," said Swati Dhingra, an economist at the London School of Economics. "Many of the policies being proposed could end up hurting the people who are being left behind."

Related links

Swati Dhingra CEP publications webpage:  http://cep.lse.ac.uk/_new/publications/author.asp?author=dhingra


Related Links:
CNBC online - One US factory goes global, while Trump shrinks the world

CEP Trade

Swati Dhingra webpage



News Posted: 15/08/2017      [Back to the Top]

Honolulu Star Advertiser

One U.S. factory goes global while Trump shrinks world

The latest concern unfolds this week, as the Trump administration begins to renegotiate the North American Free Trade Agreement, redrawing the terms of commerce with Mexico and Canada. “Altering NAFTA could fundamentally change the production of the economy — for the U.S., as well as for Mexico — and that will be very disruptive,” said Swati Dhingra, an economist at the London School of Economics. “Many of the policies being proposed could end up hurting the people who are being left behind.”

Related links

Swati Dhingra CEP publications webpage:  http://cep.lse.ac.uk/_new/publications/author.asp?author=dhingra


Related Links:
Honolulu Star Advertiser - One U.S. factory goes global while Trump shrinks world

CEP Trade

Swati Dhingra webpage



News Posted: 15/08/2017      [Back to the Top]

New York Times

One U.S. factory goes global while Trump shrinks world

The latest concern unfolds this week, as the Trump administration begins to renegotiate the North American Free Trade Agreement, redrawing the terms of commerce with Mexico and Canada. “Altering NAFTA could fundamentally change the production of the economy — for the U.S., as well as for Mexico — and that will be very disruptive,” said Swati Dhingra, an economist at the London School of Economics. “Many of the policies being proposed could end up hurting the people who are being left behind.”

Related links

Swati Dhingra CEP publications webpage:  http://cep.lse.ac.uk/_new/publications/author.asp?author=dhingra


Related Links:
New York Times - One U.S. factory goes global while Trump shrinks world

CEP Trade

Swati Dhingra webpage



News Posted: 15/08/2017      [Back to the Top]

Scotsman

MSP wants headteachers to be allowed to ban mobiles in school

Headteachers should have the power to ban mobile phones in schools, a Tory MSP has said. South Scotland MSP Michelle Ballantyne has urged the Scottish Government to overhaul its 2013 guidance on the use of mobile devices in schools. She wants a ban on phones in primary schools and the introduction of restrictions on their use in secondary schools if headteachers deem it necessary. Ms Ballantyne highlighted research by academics at the London School of Economics which explored the impact of banning mobile phones in schools. The authors concluded schools that restrict access to mobile phones “subsequently experience an improvement in test scores”.


Related Links:
Scotsman - MSP wants headteachers to be allowed to ban mobiles in school

In brief... Phone home: should mobiles be banned in schools?

Ill Communication: Technology, Distraction & Student Performance

CEP Education and Skills

Richard Murphy webpage



News Posted: 15/08/2017      [Back to the Top]

MIT Technology Review

Increasing Minimum Wage puts more jobs at risk of automation

When the minimum wage goes up, the robots come for people's jobs. That's the upshot of a paper published today on the National Bureau of Economic Research's website (abstract, full PDF paywalled), which analyzed how changes to the minimum wage from 1980 to 2015 affected low-skill jobs in various sectors of the U.S. economy. … Interestingly, a study of Seattle's new law, released in June, suggested that cuts to working hours meant people were actually losing as much as $125 a month. The new analysis, by Grace Lordan of the London School of Economics and David Neumark at the University of California, Irvine, suggests that there's a similar negative effect among people who work minimum-wage jobs that machines can do. The researchers found that across all industries they measured, raising minimum wage by $1 equates to a decline in "automatable" jobs—things like packing boxes or operating a sewing machine—of 0.43 percent.


Related Links:
MIT Technology Review - Increasing Minimum Wage puts more jobs at risk of automation

CEP Wellbeing

Grace Lordan webpage



News Posted: 15/08/2017      [Back to the Top]

Economics21

Robots gain from higher minimum wage

A new working paper by Grace Lordan of the London School of Economics and David Neumark of the University of California at Irvine finds that increasing the minimum wage lowers the share of jobs susceptible to automation held by low-skill workers. A $1 increase in the minimum wage lowers this share by 0.43 percentage points.  Increases also adversely affect the workers' likelihood of being employed and hours worked.

Related publications

People Versus Machines: The Impact of Minimum Wages on Automatable Jobs

Published August 2017

Available on the NBER website


Related Links:
Economics21 - Robots gain from higher minimum wage

CEP Wellbeing

Grace Lordan webpage



News Posted: 14/08/2017      [Back to the Top]

Washington Examiner

New study finds minimum wage hikes lead to job automation

States that raise their minimum wages may put low-skill workers at risk of having their jobs automated, according to a new academic paper published Monday. The study published by the National Bureau of Economic Research finds that higher minimum wages are likely to lower employment in manufacturing jobs that can be performed by robots, and hit older, black, and female workers particularly hard. The paper, which has not yet gone through the peer review process, was written by Grace Lordan of the London School of Economics and David Neumark of the University of California at Irvine, one of the pre-eminent academic analysts of the minimum wage.

Related publications

People Versus Machines: The Impact of Minimum Wages on Automatable Jobs

Published August 2017

Available on the NBER website


Related Links:
Washington Examiner - New study finds minimum wage hikes lead to job automation

CEP Wellbeing

Grace Lordan webpage



News Posted: 14/08/2017      [Back to the Top]

theregister.co.uk

Raising minimum wage will raise something else: An army of robots taking away folks' jobs

In People Versus Machines: The Impact of Minimum Wages on Automatable Jobs, Grace Lordan, associate professor in health economics at the London School of Economics, and David Neumark, professor of economics at the University of California, Irvine, show that raising the minimum wage may have unintended consequences.

Also in

E21

Robots Gain from Higher Minimum Wage

A new working paper by Grace Lordan of the London School of Economics and David Neumark of the University of California at Irvine finds that increasing the minimum wage lowers the share of jobs susceptible to automation held by low-skill workers. A $1 increase in the minimum wage lowers this share by 0.43 percentage points.  Increases also adversely affect the workers' likelihood of being employed and hours worked.

https://economics21.org/html/robots-gain-higher-minimum-wage-2510.html

 

Washington Examiner

New study finds minimum wage hikes lead to job automation

The paper, which has not yet gone through the peer review process, was written by Grace Lordan of the London School of Economics and David Neumark of the University of California at Irvine, one of the pre-eminent academic analysts of the minimum wage.

http://www.washingtonexaminer.com/new-study-finds-minimum-wage-hikes-lead-to-job-automation/article/2631432

Related publications

People Versus Machines: The Impact of Minimum Wages on Automatable Jobs

Published August 2017

Available on the NBER website


Related Links:
theregister.co.uk - Raising minimum wage will raise something else: An army of robots taking away folks' jobs

CEP Wellbeing

Grace Lordan webpage



News Posted: 14/08/2017      [Back to the Top]

HowlingPixel

Technological unemployment

Some recent studies however, such as a 2015 paper by Georg Graetz and Guy Michaels, found that at least in the area they studied – the impact of industrial robots – innovation is boosting pay for highly skilled workers while having a more negative impact on those with low to medium skills.

 


Related Links:
HowlingPixel - Technological unemployment

Robots at work: the impact on productivity and jobs

Robots at Work

CEP Labour Markets

Georg Graetz webpage

Guy Michaels webpage



News Posted: 14/08/2017      [Back to the Top]

Mortgage Introducer online

Our great housing problem

A recent paper by Christian Hilber of the London School of Economics suggests that stamp duty reduces the rate of home moving by about a fifth.

Related publications

‘Transfer Taxes and Household Mobility: Distortion on the Housing or Labor Market?’, Christian A.L. Hilber and Teemu Lyytikäinen, SERC Discussion Paper No.216, June 2017

http://www.spatialeconomics.ac.uk/textonly/SERC/publications/download/sercdp0216.pdf


Related Links:
Mortgage Introducer online - Our great housing problem

CEP Urban and Spatial Programme

Christian Hilber webpage



News Posted: 14/08/2017      [Back to the Top]

Today’s Conveyancer

Stamp duty under new scrutiny

Academics have claimed that the housing market is being adversely affected by stamp duty. According to research from the London School of Economics and the VATT Institute for Economic Research, the duty is deterring households from moving, especially where the distance between properties is small.

Related publications

‘Transfer Taxes and Household Mobility: Distortion on the Housing or Labor Market?’, Christian A.L. Hilber and Teemu Lyytikäinen, SERC Discussion Paper No.216, June 2017

http://www.spatialeconomics.ac.uk/textonly/SERC/publications/download/sercdp0216.pdf

 


Related Links:
Today’s Conveyancer - Stamp duty under new scrutiny

CEP Urban and Spatial Programme

Christian Hilber webpage



News Posted: 14/08/2017      [Back to the Top]

Chicago Booth Review

A global measure of uncertain economic times

Uncertainty about a nation’s economic policies can influence both politics and financial markets, and the effects often spread beyond the country’s borders. Building on his research with Northwestern’s Scott R. Baker and Stanford’s Nick Bloom measuring policy uncertainty in the world’s major economies, Chicago Booth’s Steven J. Davis has constructed an index that combines data from 18 countries to provide a global measurement of uncertainty from 1997 to present.

Related publications

'Measuring Economic Policy Uncertainty', Scott R. Baker, Nicholas Bloom, Steven J. Davis, The Quarterly Journal of Economics, Vol 131, Issue 4, November 2016


Related Links:
Chicago Booth Review - A global measure of uncertain economic times

Measuring Economic Policy Uncertainty

CEP Growth

Nick Bloom webpage



News Posted: 14/08/2017      [Back to the Top]

Forsal.Pl (Poland)

What about international trade after brexit? Here are the possibilities and their consequences

The Center for Economic Performance estimated that in the case of such a scenario over the decade, trade would have fallen by 40 percent and average income by 2.6 percent.


Related Links:
Forsal.Pl (Poland) - What about international trade after brexit? Here are the possibilities and their consequences

BREXIT 2016: Policy Analysis from the Centre for Economic Performance

CEP Growth CEP Trade

Holger Breinlich webpage

Swati Dhingra webpage

Hanwei Huang webpage

Gianmarco Ottaviano webpage

Thomas Sampson webpage

John Van reenen webpage



News Posted: 14/08/2017      [Back to the Top]

Perspectiva.com

Wealth or wellbeing?

According to a study by the London School of Economics (LSE), with the participation of the Organization for Economic Cooperation and Development, most human misery is not due to economic factors, but to failed relationships and physical and mental illness . … According to Richard Layard, one of those responsible for the study, "the evidence shows that the things that matter most to happiness and misery are social relationships and mental and physical health." In his view, this demands a new role for the state, but not in the sense of "wealth creation", but in the sense of "welfare creation."

Associated article

Vox Origins of happiness: Evidence and policy implications  Andrew Clark, Sarah Fleche, Richard Layard, Nattavudh Powdthavee and George Ward.


Related Links:
Perspectiva.com - Wealth or wellbeing?

CEP Wellbeing

George Ward webpage

Andrew Clark webpage

Sarah Flèche webpage

Richard Layard webpage

Nattavudh Powdthavee webpage



News Posted: 13/08/2017      [Back to the Top]

The Times

The regions can be our road to revival, but only if transport links are improved

A rebalancing is long overdue. “Regional disparities are wider in the UK than other western European countries,” according to the London School of Economics’ Centre for Economic Performance. One reason why London’s productivity, and hence wealth, is so much greater than Britain’s other cities is the sophistication of the commuter network. Studies have shown that people tolerate roughly an hour’s travel but much more than that and the pool of labour available to an employer shrinks. With such a shallow pool of talent in sites as stranded as Cheshire science park, business would have to think twice about putting down roots.

Related publications

‘Brexit, Trade and the Economic Impacts on UK Cities’, Naomi Clayton and Henry Overman, Centre for Cities briefing, July 2017 

http://www.centreforcities.org/wp-content/uploads/2017/07/17-07-26-Brexit-trade-and-the-economic-impacts-on-UK-cities.pdf


Related Links:
The Times - The regions can be our road to revival, but only if transport links are improved

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 12/08/2017      [Back to the Top]

Simple Landlords Insurance

Stamp Duty increase fuels housing crisis – new report claims

Professor Christian Hilber, who co-authored the report, said: "Stamp duty discourages young expanding families from moving to more adequate, larger housing and it discourages the elderly from downsizing. "Our analysis suggests that mobility would be 27 per cent higher if stamp duty was abolished or replaced with an annual tax on the value of property."

Related publications

‘Transfer Taxes and Household Mobility: Distortion on the Housing or Labor Market?’, Christian A.L. Hilber and Teemu Lyytikäinen, SERC Discussion Paper No.216, June 2017

http://www.spatialeconomics.ac.uk/textonly/SERC/publications/download/sercdp0216.pdf


Related Links:
Simple Landlords Insurance - Stamp Duty increase fuels housing crisis – new report claims

CEP Urban and Spatial Programme

Christian Hilber webpage



News Posted: 11/08/2017      [Back to the Top]

Property Investor Today

Cut stamp duty to free up mobility, says report

Current stamp duty rates are deterring older buyers from downsizing and therefore freeing up homes for those further down the housing ladder, but the research from the London School of Economics and the VATT Institute for Economic Research, says that moving levels would increase by over a quarter if the tax was scrapped. Professor Christian Hilber, co-author of the report, commented: “The key message is that stamp duty hampers mobility significantly, it create a mismatch and distortions in the housing market. Our analysis suggests that mobility would be 27% higher if stamp duty was abolished or replaced with an annual tax on the value of property.

Related publications

‘Transfer Taxes and Household Mobility: Distortion on the Housing or Labor Market?’, Christian A.L. Hilber and Teemu Lyytikäinen, SERC Discussion Paper No.216, June 2017

http://www.spatialeconomics.ac.uk/textonly/SERC/publications/download/sercdp0216.pdf


Related Links:
Property Investor Today - Cut stamp duty to free up mobility, says report

CEP Urban and Spatial Programme

Christian Hilber webpage



News Posted: 11/08/2017      [Back to the Top]

Landlord News

More calls for Stamp Duty to be amended

Present rates of Stamp Duty are putting older buyers off downsizing and stopping more homes coming onto the market for those at the bottom of the housing ladder. Research from the London School of Economics and the VATT Institute for Economic Research suggests that levels of moving could increase by a quarter if the tax was to be scrapped. Professor Christian Hilber, co-author of the report, observed: ‘The key message is that stamp duty hampers mobility significantly, it create a mismatch and distortions in the housing market. Our analysis suggests that mobility would be 27% higher if stamp duty was abolished or replaced with an annual tax on the value of property.’

Related publications

‘Transfer Taxes and Household Mobility: Distortion on the Housing or Labor Market?’, Christian A.L. Hilber and Teemu Lyytikäinen, SERC Discussion Paper No.216, June 2017

http://www.spatialeconomics.ac.uk/textonly/SERC/publications/download/sercdp0216.pdf


Related Links:
Landlord News - More calls for Stamp Duty to be amended

CEP Urban and Spatial Programme

Christian Hilber webpage



News Posted: 11/08/2017      [Back to the Top]

Financial Times

Time to sound the horn for council tax reform

By raising the costs of moving home, stamp duty is likely to have “very substantial detrimental effects” on the property market, according to research released this week by academics from the London School of Economics and Finland’s VATT Institute.

Related publications

‘Transfer Taxes and Household Mobility: Distortion on the Housing or Labor Market?’, Christian A.L. Hilber and Teemu Lyytikäinen, SERC Discussion Paper No.216, June 2017

http://www.spatialeconomics.ac.uk/textonly/SERC/publications/download/sercdp0216.pdf


Related Links:
Financial Times - Time to sound the horn for council tax reform

CEP Urban and Spatial Programme

Christian Hilber webpage



News Posted: 11/08/2017      [Back to the Top]

Investor Today

Cut stamp duty to free up mobility, says report

Current stamp duty rates are deterring older buyers from downsizing and therefore freeing up homes for those further down the housing ladder, but the research from the London School of Economics and the VATT Institute for Economic Research, says that moving levels would increase by over a quarter if the tax was scrapped.

Professor Christian Hilber, co-author of the report, commented: “The key message is that stamp duty hampers mobility significantly, it create a mismatch and distortions in the housing market. Our analysis suggests that mobility would be 27% higher if stamp duty was abolished or replaced with an annual tax on the value of property.

Related publications

‘Transfer Taxes and Household Mobility: Distortion on the Housing or Labor Market?’, Christian A.L. Hilber and Teemu Lyytikäinen, SERC Discussion Paper No.216, June 2017 http://www.spatialeconomics.ac.uk/textonly/SERC/publications/download/sercdp0216.pdf


Related Links:
Investor Today - Cut stamp duty to free up mobility, says report

CEP Urban and Spatial Programme

Christian Hilber webpage



News Posted: 11/08/2017      [Back to the Top]

KentLive

Thanet is predicted to be the worst affected area in Kent by a ‘soft Brexit’

Experts have predicted that Thanet would be the hardest hit area of Kent in a 'soft Brexit' scenario. A new study by the London School of Economics revealed that Thanet could lose £27.2 million – based largely on the assumption the UK could still negotiate access to the EU single market.

Related publications

‘Brexit, Trade and the Economic Impacts on UK Cities’, Naomi Clayton and Henry Overman, Centre for Cities briefing, July 2017

http://www.centreforcities.org/wp-content/uploads/2017/07/17-07-26-Brexit-trade-and-the-economic-impacts-on-UK-cities.pdf


Related Links:
KentLive - Thanet is predicted to be the worst affected area in Kent by a ‘soft Brexit’

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 10/08/2017      [Back to the Top]

Daily Mail

Is this the way to beat stamp duty? Savvy widower, 82, with a 10 room property 'downsizes' by splitting his home in HALF to live in one side and let the other

Snippet: ... A report by the London School of Economics also claimed that stamp duty is making the housing crisis worse because it is deterring older homeowners from downsizing. 

Related publications

‘Transfer Taxes and Household Mobility: Distortion on the Housing or Labor Market?’, Christian A.L. Hilber and Teemu Lyytikäinen, SERC Discussion Paper No.216, June 2017

http://www.spatialeconomics.ac.uk/textonly/SERC/publications/download/sercdp0216.pdf


Related Links:
Daily Mail - Is this the way to beat stamp duty? Savvy widower, 82, with a 10 room property 'downsizes' by splitting his home in HALF to live in one side and let the other

CEP Urban and Spatial Programme

Christian Hilber webpage



News Posted: 10/08/2017      [Back to the Top]

Taizhou (China)

British latest research: stamp duty into the real estate market stumbling block

Snippet: ... "The important message for our paper is that the taxation has significantly hurt the liquidity," said Professor Christian Hilber, co-author of the report.

Related publications

‘Transfer Taxes and Household Mobility: Distortion on the Housing or Labor Market?’, Christian A.L. Hilber and Teemu Lyytikäinen, SERC Discussion Paper No.216, June 2017

http://www.spatialeconomics.ac.uk/textonly/SERC/publications/download/sercdp0216.pdf


Related Links:
Taizhou (China) - British latest research: stamp duty into the real estate market stumbling block

CEP Urban and Spatial Programme

Christian Hilber webpage



News Posted: 10/08/2017      [Back to the Top]

Mirror

David Stevenson goes into EPIC meltdown after he's cruelly dumped from Make Or Break

Snippet: ... Behavioural expert Paul Dolan tried to remain positive as he told the camera: "They've broken up but they've got an escape plan and they can find someone better."


Related Links:
Mirror - David Stevenson goes into EPIC meltdown after he's cruelly dumped from Make Or Break

CEP Wellbeing

Paul Dolan webpage



News Posted: 10/08/2017      [Back to the Top]

Derby Telegraph

Stamp duty should be abolished to boost housing market, new report says

Co-author of the report, Professor Christian Hilber, said: “The key message of our paper is that stamp duty hampers mobility significantly’…

Related publications

‘Transfer Taxes and Household Mobility: Distortion on the Housing or Labor Market?’, Christian A.L. Hilber and Teemu Lyytikäinen, SERC Discussion Paper No.216, June 2017

http://www.spatialeconomics.ac.uk/textonly/SERC/publications/download/sercdp0216.pdf


Related Links:
Derby Telegraph - Stamp duty should be abolished to boost housing market, new report says

CEP Urban and Spatial Programme

Christian Hilber webpage



News Posted: 10/08/2017      [Back to the Top]

Bloomberg Politics

Britain’s Not-So-Sweet Options for an EU Trade Deal

What if there is no deal?

A “very, very bad outcome,” in the words of Chancellor of the Exchequer Philip Hammond. The U.K. would regain control of laws, money, immigration and ability to negotiate trade pacts. If pushed it could even slash taxes and regulations to create a Singapore-style economy focused on drawing investment. (Embracing fully free trade could increase the U.K.’s long-term gross domestic product by 4 percent, according to Patrick Minford of Cardiff Business School.) But U.K. exporters would be subject to World Trade Organization duties and multiple non-tariff barriers. A hard border with Ireland would be needed, Britain-based airlines might not be able to land on the continent and the transportation of nuclear material would be impeded. The Center for Economic Performance estimated trade would fall 40 percent over a decade and average income by 2.6 percent in the no-deal scenario.


Related Links:
Bloomberg Politics - Britain’s Not-So-Sweet Options for an EU Trade Deal

The consequences of Brexit for UK trade and living standards

CEP Growth CEP Trade

Swati Dhingra webpage

John Van reenen webpage

Gianmarco Ottaviano webpage

Thomas Sampson webpage



News Posted: 10/08/2017      [Back to the Top]

Prospect magazine

Hard or soft, Brexit will hit every British city—and pro-Leave areas will find it hardest to recover

People up and down the country can ill afford for silly season squabbles to distract us from the complexity of Brexit

…amidst the summer politicking and parties, a new report by Centre for Cities should make for sobering reading for Government ministers, particularly those pushing for a hard Brexit. The report (published in partnership with the Centre for Economic Performance at LSE) charts for the first time the likely impact of both a hard or soft Brexit on UK cities in the decade after new trade arrangements with the EU are put in place - and in both scenarios, the news isn’t good.

Related publications

‘Brexit, Trade and the Economic Impacts on UK Cities’, Naomi Clayton and Henry Overman, Centre for Cities briefing, July 2017

http://www.centreforcities.org/wp-content/uploads/2017/07/17-07-26-Brexit-trade-and-the-economic-impacts-on-UK-cities.pdf

 


Related Links:
Prospect magazine - Hard or soft, Brexit will hit every British city—and pro-Leave areas will find it hardest to recover

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 10/08/2017      [Back to the Top]

SKY News

Stamp duty causing bottleneck in housing market, report says

The tax is stopping young families from moving to a larger home, a report says, and deterring older people from downsizing.

Snippet: ...Professor Christian Hilber, who co-authored the report, said: "The key message of our paper is that stamp duty hampers mobility significantly.....

Related publications

‘Transfer Taxes and Household Mobility: Distortion on the Housing or Labor Market?’, Christian A.L. Hilber and Teemu Lyytikäinen, SERC Discussion Paper No.216, June 2017

http://www.spatialeconomics.ac.uk/textonly/SERC/publications/download/sercdp0216.pdf

'Transfer taxes and household mobility: Distortion on the housing or labor market?' Christian A.L. Hilber and Teemu Lyytikäinen Journal of Urban Economics , 2017. http://www.sciencedirect.com/science/article/pii/S0094119017300542

 

 


Related Links:
SKY News - Stamp duty causing bottleneck in housing market, report says

CEP Urban and Spatial Programme

Christian Hilber webpage



News Posted: 10/08/2017      [Back to the Top]

China Taizhou network

British latest research: stamp duty into the real estate market stumbling block

"The important message of our paper is that the taxation is significantly damaging to liquidity," said Professor Christian Hilber, co-author of the report. "" If a young family adds a filial piety, it will need to add a bedroom.

Related publications

‘Transfer Taxes and Household Mobility: Distortion on the Housing or Labor Market?’, Christian A.L. Hilber and Teemu Lyytikäinen, SERC Discussion Paper No.216, June 2017

http://www.spatialeconomics.ac.uk/textonly/SERC/publications/download/sercdp0216.pdf


Related Links:
China Taizhou network - British latest research: stamp duty into the real estate market stumbling block

CEP Urban and Spatial Programme

Christian Hilber webpage



News Posted: 09/08/2017      [Back to the Top]

Telegraph

Opinion: Stamp duty is a tax on mobility and aspiration. It should be cut substantially or abolished

A cabinet minister, who apparently wishes to remain anonymous, has told the Daily Telegraph that stamp duty must be reformed as it is exacerbating the housing crisis, stopping older homeowners from downsizing. The paper says the intervention follows a report from academics suggesting the tax reduces the rate of house moves by a third, creating a mismatch in the market. Prof Christian Hilber, of the London School of Economics, tells the paper the key message from the research is that stamp duty hampers mobility significantly. "End stamp duty and unleash the economy," demands the Telegraph in an editorial. It is a problem not just for the elderly wanting to downsize, says the Telegraph, but for families looking for a larger home. Countless families are stuck in homes that no longer meet their needs, it adds.

Related publications

‘Transfer Taxes and Household Mobility: Distortion on the Housing or Labor Market?’, Christian A.L. Hilber and Teemu Lyytikäinen, SERC Discussion Paper No.216, June 2017

http://www.spatialeconomics.ac.uk/textonly/SERC/publications/download/sercdp0216.pdf


Related Links:
Telegraph - Opinion: Stamp duty is a tax on mobility and aspiration. It should be cut substantially or abolished

CEP Urban and Spatial Programme

Christian Hilber webpage



News Posted: 09/08/2017      [Back to the Top]

Property Industry Eye

LSE academics become the latest to call for Stamp Duty to be scrapped

A study by the London School of Economics and the VATT Institute for Economic Research found Stamp Duty, or property transfer taxes, were making households less likely to move, particularly over shorter distances.

Related publications

‘Transfer Taxes and Household Mobility: Distortion on the Housing or Labor Market?’, Christian A.L. Hilber and Teemu Lyytikäinen, SERC Discussion Paper No.216, June 2017

http://www.spatialeconomics.ac.uk/textonly/SERC/publications/download/sercdp0216.pdf


Related Links:
Property Industry Eye - LSE academics become the latest to call for Stamp Duty to be scrapped

CEP Urban and Spatial Programme

Christian Hilber webpage



News Posted: 09/08/2017      [Back to the Top]

BBC News (blog/TV)

Newspaper headlines: The Papers

Snippet: ... Prof Christian Hilber, of the London School of Economics, tells the paper the key message from the research is that stamp duty hampers mobility significantly.

Related publications

‘Transfer Taxes and Household Mobility: Distortion on the Housing or Labor Market?’, Christian A.L. Hilber and Teemu Lyytikäinen, SERC Discussion Paper No.216, June 2017

http://www.spatialeconomics.ac.uk/textonly/SERC/publications/download/sercdp0216.pdf


Related Links:
BBC News (blog/TV) - Newspaper headlines: The Papers

CEP Urban and Spatial Programme

Christian Hilber webpage



News Posted: 09/08/2017      [Back to the Top]

The Sun

STAMP IT OUT Steep stamp duty is making the housing crisis WORSE because older homeowners are put off downsizing, new report claims

Snippet: ... Prof Christian Hilber, who co-authored the report, said: “The key message of our paper is that stamp duty hampers mobility significantly.

Related publications

‘Transfer Taxes and Household Mobility: Distortion on the Housing or Labor Market?’, Christian A.L. Hilber and Teemu Lyytikäinen, SERC Discussion Paper No.216, June 2017

http://www.spatialeconomics.ac.uk/textonly/SERC/publications/download/sercdp0216.pdf


Related Links:
The Sun - STAMP IT OUT Steep stamp duty is making the housing crisis WORSE because older homeowners are put off downsizing, new report claims

CEP Urban and Spatial Programme

Christian Hilber webpage



News Posted: 09/08/2017      [Back to the Top]

London Loves Business

Stamp duty exacerbating housing crisis and impacting economic growth

Snippet: ... Professor Christian Hilber, who co-authored the report told the Daily Telegraph: “The key message of our paper is that stamp duty hampers mobility significantly.

Related publications

‘Transfer Taxes and Household Mobility: Distortion on the Housing or Labor Market?’, Christian A.L. Hilber and Teemu Lyytikäinen, SERC Discussion Paper No.216, June 2017

http://www.spatialeconomics.ac.uk/textonly/SERC/publications/download/sercdp0216.pdf


Related Links:
London Loves Business - Stamp duty exacerbating housing crisis and impacting economic growth

CEP Urban and Spatial Programme

Christian Hilber webpage



News Posted: 09/08/2017      [Back to the Top]

Property118

LSE call on Chancellor to reform Stamp duty

Snippet: ... Co-author of the report, Professor Christian Hilber, said: “The key message of our paper is that stamp duty hampers mobility significantly.

Related publications

‘Transfer Taxes and Household Mobility: Distortion on the Housing or Labor Market?’, Christian A.L. Hilber and Teemu Lyytikäinen, SERC Discussion Paper No.216, June 2017

http://www.spatialeconomics.ac.uk/textonly/SERC/publications/download/sercdp0216.pdf


Related Links:
Property118 - LSE call on Chancellor to reform Stamp duty

CEP Urban and Spatial Programme

Christian Hilber webpage



News Posted: 09/08/2017      [Back to the Top]

Express

‘Draconian’ Stamp Duty will trigger HUGE house price CRASH by stopping elderly downsizing

Snippet: ... LSE Professor Christian Hilber said: "If you are a young family and you have an additional child, you'll need an additional room, but the stamp duty is discouraging this kind of move because of the additional cost and lack of available homes to move into."

Related publications

‘Transfer Taxes and Household Mobility: Distortion on the Housing or Labor Market?’, Christian A.L. Hilber and Teemu Lyytikäinen, SERC Discussion Paper No.216, June 2017

http://www.spatialeconomics.ac.uk/textonly/SERC/publications/download/sercdp0216.pdf


Related Links:
Express - ‘Draconian’ Stamp Duty will trigger HUGE house price CRASH by stopping elderly downsizing

CEP Urban and Spatial Programme

Christian Hilber webpage



News Posted: 09/08/2017      [Back to the Top]

CityAM

Stamp duty "hampers mobility" as pensioners cling onto family homes

The academic paper, published jointly by the London School of Economics and the VATT Institute for Economic Research, estimates the level of home moving would increase by 27 per cent if the levy was abolished outright.

Professor Christian Hilber, co-author of the report, said: “The key message of our paper is that stamp duty hampers mobility significantly.

Related publications

‘Transfer Taxes and Household Mobility: Distortion on the Housing or Labor Market?’, Christian A.L. Hilber and Teemu Lyytikäinen, SERC Discussion Paper No.216, June 2017

http://www.spatialeconomics.ac.uk/textonly/SERC/publications/download/sercdp0216.pdf


Related Links:
CityAM - Stamp duty "hampers mobility" as pensioners cling onto family homes

CEP Urban and Spatial Programme

Christian Hilber webpage



News Posted: 09/08/2017      [Back to the Top]

Mirror

Who are Make or Break's Stephen and Abbi? The Vegas party boy who wants to shake off his playboy image for his loyal girlfriend

Snippet: ... What was going through your mind when Paul (Paul Dolan – Happiness expert and Professor of Behavioural Science) told you what would be happening? 


Related Links:
Mirror - Who are Make or Break's Stephen and Abbi? The Vegas party boy who wants to shake off his playboy image for his loyal girlfriend

CEP Wellbeing

Paul Dolan webpage



News Posted: 09/08/2017      [Back to the Top]

OK!

Make Or Break: David Stevenson reveals the heartbreaking reason behind his quest for love as Beth Matkin relationship spirals

Snippet: ... Things went from bad to worse in Tuesday night's episode of Make Or Break as David broke down in tears once again after finding out some home truths during a task with behavioural expert Paul Dolan.


Related Links:
OK! - Make Or Break: David Stevenson reveals the heartbreaking reason behind his quest for love as Beth Matkin relationship spirals

CEP Wellbeing

Paul Dolan webpage



News Posted: 09/08/2017      [Back to the Top]

Huffington Post

Credit Crunch Anniversary: Why Pay Is A ‘Long Way’ From Recovering And How Brexit Is Making It Worse

A London School of Economics report in June showed that Britain was one of just three out of 28 countries that saw wages fall in real terms between 2007 and 2015.

The only country where wages fell more was Greece, which has suffered economic catastrophe in the years since the crisis.

 


Related Links:
Huffington Post - Credit Crunch Anniversary: Why Pay Is A ‘Long Way’ From Recovering And How Brexit Is Making It Worse

#GE2017Economists: The Research Evidence on Key Issues for Voters in the 2017 UK General Election

CEP Labour Markets

Stephen Machin webpage

Romesh Vaitilingam webpage



News Posted: 09/08/2017      [Back to the Top]

Telegraph

Opinion: Stamp duty is a tax on mobility and aspiration. It should be cut substantially or abolished

However, research from the LSE and the VATT Institute for Economic Research suggests the human cost of stamp duty is even higher. It artificially reduces the rate at which people move by nearly one-third, it says, creating a “mismatch” in the market. The tax is a problem for growing...

Related publications

‘Transfer Taxes and Household Mobility: Distortion on the Housing or Labor Market?’, Christian A.L. Hilber and Teemu Lyytikäinen, SERC Discussion Paper No.216, June 2017

http://www.spatialeconomics.ac.uk/textonly/SERC/publications/download/sercdp0216.pdf


Related Links:
Telegraph - Opinion: Stamp duty is a tax on mobility and aspiration. It should be cut substantially or abolished

CEP Urban and Spatial Programme

Christian Hilber webpage



News Posted: 08/08/2017      [Back to the Top]

Review of Environmental Economics and Policy

‘The Impacts of Environmental Regulations on Competitiveness’

Antoine Dechezleprêtre and Misato Sato, Review of Environmental Economics and Policy, Volume 11, Issue 2, July 2017


Related Links:
Review of Environmental Economics and Policy - ‘The Impacts of Environmental Regulations on Competitiveness’

CEP Growth

Antoine Dechezleprêtre webpage



News Posted: 08/08/2017      [Back to the Top]

Liberation.fr (France)

Sorti de l’UE: l’orchestre cacophonique de Londres/Exit of the EU: the cacophony orchestra of London

Theresa May on vacation, the ministers of soft and hard Brexit clash in the most perfect disorder. Economists, on the other hand, predict a decline in growth.

The government's hesitations have an impact on the economy. Time is of the essence, as uncertainty hangs over investment, warns Mark Carney, Governor of the Bank of England. Pessimistic, the institution has lowered its growth forecasts to 1.7% for 2017 and 1.6% for 2018. According to it, growth is penalized by the decline in the purchasing power of households. "The depreciation of the pound [which is worth 1.1 euro against 1.3 before the referendum] has led to an increase in inflation, which has reduced wage growth. Consumption has not yet declined, but households are saving less, "says Thomas Sampson, a professor of economics at the London School of Economics.

Related links

Thomas Sampson CEP publications webpage:  http://cep.lse.ac.uk/_new/publications/author.asp?author=sampson


Related Links:
Liberation.fr (France) - Sorti de l’UE: l’orchestre cacophonique de Londres/Exit of the EU: the cacophony orchestra of London

CEP Trade

Thomas Sampson webpage



News Posted: 08/08/2017      [Back to the Top]

Cambridge Network

Mobile telecoms consolidation means higher prices but greater investment

A new study forthcoming in the journal Economic Policy, based on a trove of data from 33 OECD countries over a 12-year period (2002-2014), finds that prices paid by consumers are higher in more concentrated markets (by an estimated average of 16.3 per cent in a four-to-three operator merger, according to the study’s model), while at the same time investment per operator increases when the number of providers is reduced (by an estimated 19.3 per cent in a four-to-three merger). The effect of such consolidation on total investment by all operators does not appear significant, but those findings are not conclusive. The authors – from Cambridge Judge Business School, Imperial College London, and the University of Leuven in Belgium – argue that regulators have so far focused hard on consumer pricing implications of mobile consolidation, while paying little attention to the impact of mergers on efficiencies and investment.  “The study says that regulators and policymakers should consider investment more seriously, and weigh more fully the trade-off between consumer pricing and operator efficiency and investment in order to reach the best decisions,” says Dr Christos Genakos, University Senior Lecturer in Economics at Cambridge Judge Business School.

 


Related Links:
Cambridge Network - Mobile telecoms consolidation means higher prices but greater investment

Evaluating Market Consolidation in Mobile Communications

CEP Growth

Christos Genakos webpage



News Posted: 08/08/2017      [Back to the Top]

The Daily Telegraph

Stamp duty exacerbating housing crisis by stopping elderly from moving, warns Cabinet minister

Snippet: ... A report from academics said stamp duty reduces the rate of home moving by nearly a third and meant that large homes were not being freed up for young, growing families.

Related publications

‘Transfer Taxes and Household Mobility: Distortion on the Housing or Labor Market?’, Christian A.L. Hilber and Teemu Lyytikäinen, SERC Discussion Paper No.216, June 2017

http://www.spatialeconomics.ac.uk/textonly/SERC/publications/download/sercdp0216.pdf


Related Links:
The Daily Telegraph - Stamp duty exacerbating housing crisis by stopping elderly from moving, warns Cabinet minister

CEP Urban and Spatial Programme

Christian Hilber webpage



News Posted: 08/08/2017      [Back to the Top]

Mirror

Make Or Break's David Stevenson breaks down in tears AGAIN after hearing shocking truths about girlfriend Beth

Snippet: ... As part of a challenge, behavioural expert Paul Dolan read out a series of shocking confessions and the contestants had to guess who they related to.


Related Links:
Mirror - Make Or Break's David Stevenson breaks down in tears AGAIN after hearing shocking truths about girlfriend Beth

CEP Wellbeing

Paul Dolan webpage



News Posted: 08/08/2017      [Back to the Top]

Higher Education Policy Institute

Measuring teaching intensity: the authors respond to the critics

In research just published in the journal Fiscal Studies, we examine teaching at UK universities in more detail than any study since the 1963 Robbins Report. We compared the teaching of Economics, History and Physics across 67 universities. We also made a historical comparison with 1963, using data drawn from the appendices to the Robbins Report prepared by Richard Layard and Claus Moser.


Related Links:
Higher Education Policy Institute - Measuring teaching intensity: the authors respond to the critics

CEP Wellbeing

Richard Layard webpage



News Posted: 07/08/2017      [Back to the Top]

The Daily Telegraph

Make or Break? is nasty TV with Love Island cast-offs laid on for sadistic voyeurs - review

The host presiding over this bedlam is someone called Paul Dolan, billed as a “behavioural scientist”, one of those odd job descriptions like horse whisperer and cat burglar. 


Related Links:
The Daily Telegraph - Make or Break? is nasty TV with Love Island cast-offs laid on for sadistic voyeurs - review

CEP Wellbeing

Paul Dolan webpage



News Posted: 07/08/2017      [Back to the Top]

Time

14 Ways to Squeeze More Joy Out of Every Day

Gold, natural gas and your attention: they’re all scarce resources. Allocate wisely so you can max out time for pleasure, recommends Paul Dolan in his book Happiness by Design. “Every tweet, text or email distracts us from the good experiences and people in our lives,” he says. 


Related Links:
Time - 14 Ways to Squeeze More Joy Out of Every Day

CEP Wellbeing

Paul Dolan webpage



News Posted: 07/08/2017      [Back to the Top]

Consultancy UK

Real pay growth to stagnate in 2017 and 2018

Private sector workers too have seen a significant drop in real term wages in recent years, with an LSE study estimating an effective 10% decrease since the financial crisis to 2015.


Related Links:
Consultancy UK - Real pay growth to stagnate in 2017 and 2018

CEP Labour Markets

Stephen Machin webpage



News Posted: 07/08/2017      [Back to the Top]

Guardian

Is it a bad idea to buy a property in London if it's not home for life?

Recent claims – made by Paul Cheshire, professor of economic geography at the London School of Economics – of an impending crash and a 40% fall in property values are “quite frankly outrageously unrealistic” according to Russell Quirk, founder and chief executive of online estate agent, eMoov.co.uk. “The reality is that the rate of house-price growth has slowed in the past few months, yet property prices remain higher than a year ago” although Quirk does concede, as do other commentators, that there is “a potential prolonged flat rate of growth” in house prices.


Related Links:
Guardian - Is it a bad idea to buy a property in London if it's not home for life?

CEP Urban and Spatial Programme

Paul Cheshire webpage



News Posted: 07/08/2017      [Back to the Top]

Metro

Love Island with more tears

Snippet: ... New Channel 5 show Make or Break puts couples through various tests - their first being to choose someone from another couple to share a bedroom with. Paul Dolan, a professor of behavioural science at the LSE who leads the show, explains…


Related Links:
CEP Wellbeing

Paul Dolan webpage



News Posted: 07/08/2017      [Back to the Top]

CityMetric

Which British cities will be hit hardest by Brexit?

A lot of my time at work is given over to worrying fitfully about two things. One is cities policy. The other is Brexit. What could be more thrilling, then, than a report which combines those two topics into a single piece of research? The answer, as it turns out, is almost anything, because this report is one of the most depressing things I’ve seen in ages. The study, a joint effort between the Centre for Cities and LSE’s Centre for Economic Performance, looks at what both “Hard” and “Soft” Brexit would do to the economies of 62 British cities. (In the unlikely event you’re unsure, “soft” Brexit means we stay in a free trade area with the EU, but have to content with new non-tariff barriers; “hard” Brexit means we have to deal with tariffs as well.)

Related publications

‘Brexit, Trade and the Economic Impacts on UK Cities’, Naomi Clayton and Henry Overman, Centre for Cities briefing, July 2017

http://www.centreforcities.org/wp-content/uploads/2017/07/17-07-26-Brexit-trade-and-the-economic-impacts-on-UK-cities.pdf


Related Links:
CityMetric - Which British cities will be hit hardest by Brexit?

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Henry Overman webpage

Stephen Machin webpage



News Posted: 07/08/2017      [Back to the Top]

Financial Times

The ‘haves and have-mores’ in digital America

Research from the Bonn-based Institute of Labor Economics shows that the differences in individual workers’ pay since the 1970s is associated with pay differences between — not within — companies. Another piece of research, from the Centre for Economic Performance, shows that this pay differential between top-tier companies and everyone else is responsible for the vast majority of inequality in the US.

Related publications

'Measuring Economic Policy Uncertainty', Scott R. Baker, Nicholas Bloom, Steven J. Davis, The Quarterly Journal of Economics, Vol 131, Issue 4, November 2016


Related Links:
Financial Times - The ‘haves and have-mores’ in digital America

Fluctuations in Uncertainty

Economic Recovery and Policy Uncertainty

Policy uncertainty: a new indicator

CEP Growth

Nick Bloom webpage

John Van reenen webpage



News Posted: 06/08/2017      [Back to the Top]

The Citizens Voice online

England's mental health experiment: free talk therapy

In 2005 David Clark, a professor of psychology at Oxford University, and economist Richard Layard, a member of the House of Lords, concluded that providing therapy to people like Oliver made economic sense. “We made the case that, just on lost work alone, the program would pay for itself,” Layard said in an interview in his office at the London School of Economics.


Related Links:
The Citizens Voice online - England's mental health experiment: free talk therapy

Cost-Benefit Analysis of Psychological Therapy

CEP Wellbeing

Richard Layard webpage



News Posted: 06/08/2017      [Back to the Top]

Wales online

Top economists have calculated the impact of a soft or hard Brexit on Swansea

Their research found that every local authority would be negatively affected under either scenario but concluded that the economic impact of leaving the single market and customs union would be around twice as severe as a milder Brexit. The academics said they were surprised that the additional cost of a hard Brexit was significantly higher in some areas than others – and cited the nature of industry and employment in those areas as the reason.

Related publications

‘Brexit, Trade and the Economic Impacts on UK Cities’, Naomi Clayton and Henry Overman, Centre for Cities briefing, July 2017

http://www.centreforcities.org/wp-content/uploads/2017/07/17-07-26-Brexit-trade-and-the-economic-impacts-on-UK-cities.pdf


Related Links:
Wales online - Top economists have calculated the impact of a soft or hard Brexit on Swansea

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 06/08/2017      [Back to the Top]

Spirit FM

West Sussex town ranked ‘second most affected' area post-Brexit

A new report by think tank Centre for Cities and the Centre for Economic Performance (CEP) predicts Worthing will be on the places hit hardest by an expected downturn in trade after the country leaves the EU.

Related publications

‘Brexit, Trade and the Economic Impacts on UK Cities’, Naomi Clayton and Henry Overman, Centre for Cities briefing, July 2017

http://www.centreforcities.org/wp-content/uploads/2017/07/17-07-26-Brexit-trade-and-the-economic-impacts-on-UK-cities.pdf


Related Links:
Spirit FM - West Sussex town ranked ‘second most affected' area post-Brexit

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 06/08/2017      [Back to the Top]

The Sunday Times

A spanner in the works for Britain's growth

Snippet: Philip Hammond has said that if every region of the UK could match the productivity of London and southeast England, there would not be a productivity problem. The London School of Economics, which recently published its Growth Commission update, is doing some good work on this....

Related publications

'UK Growth: A New Chapter', LSE Growth Commission Report, February 2017.

 

Related links

LSE Growth Commission webpage:  http://www.lse.ac.uk/researchAndExpertise/units/growthCommission/home.aspx


Related Links:
The Sunday Times - A spanner in the works for Britain's growth





News Posted: 06/08/2017      [Back to the Top]

Economist

A little-noticed change in Britain’s housing market spells trouble for everybody

in the last decade, the average amount of stamp duty charged per residential transaction has risen by 30% in real terms (though recent changes have lightened the load slightly for some). The need to pay thousands of pounds upfront makes upping sticks harder. According to a recent paper from Christian Hilber of the London School of Economics and Teemu Lyytikäinen of the VATT Institute for Economic Research, stamp duty reduces the rate of home-moving by about a fifth. It partly explains why home-owners in Britain move home half as frequently as they do in America, where the equivalent tax is usually less onerous.

Related publications

‘Transfer Taxes and Household Mobility: Distortion on the Housing or Labor Market?’, Christian A.L. Hilber and Teemu Lyytikäinen, SERC Discussion Paper No.216, June 2017

http://www.spatialeconomics.ac.uk/textonly/SERC/publications/download/sercdp0216.pdf


Related Links:
Economist - A little-noticed change in Britain’s housing market spells trouble for everybody

CEP Urban and Spatial Programme

Christian Hilber webpage



News Posted: 05/08/2017      [Back to the Top]

Mediapart

Marx, Piketty et Aghion sur la productivité, par Michel Husson / Marx, Piketty and Aghion on Productivity, by Michel Husson

A recent critical work on a study by Philippe Aghion [1] suggests a parallel (heroic) with Marx's considerations on innovation. This contribution, after having quickly pointed out the contradictions stated by Thomas Piketty, recalls the way in which Marx posed the question of technological progress.


Related Links:
Mediapart - Marx, Piketty et Aghion sur la productivité, par Michel Husson / Marx, Piketty and Aghion on Productivity, by Michel Husson

CEP Growth

Philippe Aghion webpage



News Posted: 05/08/2017      [Back to the Top]

The Irish Sun

The New Love Island?

Snippet: ... "I felt like I was sold the dream, but entered a nightmare^” And you may also recognise a familiar voice on the show, as it’s narrated by MasterChef’s voiceover artist India Fisher. Leading the activities of Channel 5’s new ‘Love Island’ is London School of Economics’ Professor Paul Dolan.


Related Links:
CEP Wellbeing

Paul Dolan webpage



News Posted: 05/08/2017      [Back to the Top]

Economist

A little-noticed change in Britain's housing market spells trouble for everybody

A little-noticed change in Britain’s housing market spells trouble for everybody

Snippet: ...n has risen by 30% in real terms (though recent changes have lightened the load slightly). The need to pay thousands of pounds upfront makes upping sticks harder. According to a recent paper from Christian Hilber of the London School of Economics and Teemu Lyytikäine...

Related publications

‘Transfer Taxes and Household Mobility: Distortion on the Housing or Labor Market?’, Christian A.L. Hilber and Teemu Lyytikäinen, SERC Discussion Paper No.216, June 2017

http://www.spatialeconomics.ac.uk/textonly/SERC/publications/download/sercdp0216.pdf


Related Links:
Economist - A little-noticed change in Britain's housing market spells trouble for everybody

CEP Urban and Spatial Programme

Christian Hilber webpage



News Posted: 05/08/2017      [Back to the Top]

Slough Express

Slough to be among top urban areas to feel negatie impact of Brexit, study says

New research suggests that Slough will be among the top five UK urban areas to be negatively impacted by Brexit. A report by the London School of Economics Centre for Economic Performance and think tank Centre for Cities says the South-east of England and urban areas will be hit the hardest. The paper, titled ‘The Local Economic Effects of Brexit’, assesses the impact of trade barriers associated with 'soft' and 'hard' Brexit scenarios.

Related publications

‘Brexit, Trade and the Economic Impacts on UK Cities’, Naomi Clayton and Henry Overman, Centre for Cities briefing, July 2017

http://www.centreforcities.org/wp-content/uploads/2017/07/17-07-26-Brexit-trade-and-the-economic-impacts-on-UK-cities.pdf


Related Links:
Slough Express - Slough to be among top urban areas to feel negatie impact of Brexit, study says

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 05/08/2017      [Back to the Top]

DeathRattleSports.com

William Hague: Brexit disaster can be averted thanks to Philip Hammond’s transition plan

Number 10 said on 31 July that it would be “wrong” to suggest that EU free movement to the UK would “continue as it is now” after 2019. But Home Secretary Amber Rudd has said that EU nationals will be able to continue to come to the UK during a post-March 2019 transition period so long as they go through a “registration and documentation” process. The senior Conservative has also commissioned a group of top economists, the Migration Advisory Committee (MAC), to investigate how the UK’s future immigration system “should be aligned with a modern industrial strategy”. The MAC, which is chaired by Professor Alan Manning, has been given a deadline of September 2018 to report back to Rudd.


Related Links:
DeathRattleSports.com - William Hague: Brexit disaster can be averted thanks to Philip Hammond’s transition plan

CEP Community

Alan Manning webpage



News Posted: 04/08/2017      [Back to the Top]

Laundry and Cleaning News International

TSA appeals to membership to respond to Migration Advisory Committee

MAC chairman, Professor Alan Manning, has been asked to produce interim reports to guide Home Office officials attempting to draw up a post-Brexit immigration regime that will bring an end to free movement but will not cause economic damage or vital skills shortages. 


Related Links:
Laundry and Cleaning News International - TSA appeals to membership to respond to Migration Advisory Committee

CEP Community

Alan Manning webpage



News Posted: 04/08/2017      [Back to the Top]

The Sun

Move over Love Island… Here are 10 reasons why Make or Break? is our new obsession

Snippet: ... Leading the activities is London School of Economics’ Professor of Behavioural Science Paul Dolan. He’s previously appeared on other TV shows, including Lose Weight For Love and This Morning.


Related Links:
The Sun - Move over Love Island… Here are 10 reasons why Make or Break? is our new obsession

CEP Wellbeing

Paul Dolan webpage



News Posted: 04/08/2017      [Back to the Top]

The Press and Journal (Scotland)

‘Labour created the welfare state and will always fight to protect it'

Britain’s most successful cities with large high-skilled service sectors will be hit hardest by the expected downturn in trade after the UK leaves the EU. Sadly, that means bad news for Aberdeen. A report from the think-tank Centre for Cities and the Centre for Economic Performance placed the Granite City at the top of the list of “most affected” cities.

Related publications

‘Brexit, Trade and the Economic Impacts on UK Cities’, Naomi Clayton and Henry Overman, Centre for Cities briefing, July 2017

http://www.centreforcities.org/wp-content/uploads/2017/07/17-07-26-Brexit-trade-and-the-economic-impacts-on-UK-cities.pdf


Related Links:
The Press and Journal (Scotland) - ‘Labour created the welfare state and will always fight to protect it'

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 04/08/2017      [Back to the Top]

LSE Business Review blog

Expert panel: unemployment hurts the wellbeing of men more than that of women

Researchers are divided on whether bad jobs are worse for wellbeing than unemployment, write Tony Beatton, Paul Frijters and Nattavudh (Nick) Powdthavee

Given a generally stronger social norm for men to be working in paid employment than for women, unemployment is typically worse for the wellbeing of men than women. That is the consensus finding of a survey of leading researchers on wellbeing from around the world. But the experts are divided on whether unemployment is better for an individual’s happiness than being employed in a bad job.

Link to press release:

Monday 31 July 2017

WORK AND UNEMPLOYMENT: Evidence of the impact on the wellbeing of men and women

http://cep.lse.ac.uk/textonly/_new2014/news/releases/2017_07_31_i151.pdf


Related Links:
LSE Business Review blog - Expert panel: unemployment hurts the wellbeing of men more than that of women

CEP Wellbeing

Paul Frijters webpage

Nattavudh Powdthavee webpage



News Posted: 04/08/2017      [Back to the Top]

UOL.com

Inglaterra oferece terapia gratuita para tratar depressão e ansiedade /England offers free therapy to treat depression and anxiety

… David Clark, a professor of psychology at the University of Oxford, and economist Richard Layard, a member of the House of Lords, concluded that offering therapy to people like Oliver made economic sense..


Related Links:
UOL.com - Inglaterra oferece terapia gratuita para tratar depressão e ansiedade /England offers free therapy to treat depression and anxiety

Cost-Benefit Analysis of Psychological Therapy

CEP Wellbeing

Richard Layard webpage



News Posted: 03/08/2017      [Back to the Top]

The Bulletin

England’s mental health experiment: free talk therapy

In 2005 David Clark, a professor of psychology at Oxford University, and economist Richard Layard, a member of the House of Lords, concluded that providing therapy to people like Oliver made economic sense.

“We made the case that, just on lost work alone, the program would pay for itself,” Layard said in an interview in his office at the London School of Economics.


Related Links:
The Bulletin - England’s mental health experiment: free talk therapy

Cost-Benefit Analysis of Psychological Therapy

CEP Wellbeing

Richard Layard webpage



News Posted: 03/08/2017      [Back to the Top]

Vox

Trump wants to protect American jobs. His immigration bill would make us poorer.

Basically the only American-born group that you could even plausibly argue are harmed is high school dropouts. This is a fairly tiny group, but it’s not even clear they are harmed. Research by the University of Bologna's Gianmarco Ottaviano and UC Davis's Giovanni Peri finds that immigrants help the wages of even low-skilled American workers.

Related publications

‘Rethinking The Effect Of Immigration On Wages’. Gianmarco I. P. Ottaviano, Giovanni Peri, 2011. http://onlinelibrary.wiley.com/doi/10.1111/j.1542-4774.2011.01052.x/full


Related Links:
Vox - Trump wants to protect American jobs. His immigration bill would make us poorer.

Immigration, Offshoring and American Jobs

CEP Trade

Gianmarco Ottaviano webpage



News Posted: 03/08/2017      [Back to the Top]

Somerset County Gazette

Taunton Deane economy could take a Brexit hit of 1.2% to 2.3%

BREXIT will damage the economic performance of Taunton Deane, according to new report. The Centre for Economic Performance believes the economy in the district will take a 1.2 per cent hit under a sort Brexit - that is to say if Britain remains in the single market and the customs union. But a hard Brexit - leaving the two organisations - would see the economy suffer to the tune of 2.3 per cent. Molly Scott Cato, Green MEP for the South West, said: “This new study shows that both a hard and soft form of Brexit will have a devastating impact on the economic performance of our towns and cities across the South West.

Related publications

‘Brexit, Trade and the Economic Impacts on UK Cities’, Naomi Clayton and Henry Overman, Centre for Cities briefing, July 2017

http://www.centreforcities.org/wp-content/uploads/2017/07/17-07-26-Brexit-trade-and-the-economic-impacts-on-UK-cities.pdf


Related Links:
Somerset County Gazette - Taunton Deane economy could take a Brexit hit of 1.2% to 2.3%

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 03/08/2017      [Back to the Top]

Heart Berkshire (Radio)

[06:00:00]

Snippet: ... Reading has come out third on a list of 10 towns in the UK most likely to be hit hardest by Brexit report of the London School of Economics says Dorsey a fall i...

Related publications

‘Brexit, Trade and the Economic Impacts on UK Cities’, Naomi Clayton and Henry Overman, Centre for Cities briefing, July 2017

http://www.centreforcities.org/wp-content/uploads/2017/07/17-07-26-Brexit-trade-and-the-economic-impacts-on-UK-cities.pdf


Related Links:
Heart Berkshire (Radio) - [06:00:00]

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 02/08/2017      [Back to the Top]

Harper's Bazaar (Spain)

La felicidad no depende del dinero sino del amor/ Happiness does not depend on money but on love

A survey of 200,000 people at the London School of Economics in the United Kingdom revealed that personal satisfaction is more about finding love, even having more impact than increasing salary.

Associated article

Vox Origins of happiness: Evidence and policy implications  Andrew Clark, Sarah Fleche, Richard Layard, Nattavudh Powdthavee and George Ward


Related Links:
Harper's Bazaar (Spain) - La felicidad no depende del dinero sino del amor/ Happiness does not depend on money but on love

CEP Wellbeing

Andrew Clark webpage

Sarah Flèche webpage

Richard Layard webpage

Nattavudh Powdthavee webpage

George Ward webpage



News Posted: 02/08/2017      [Back to the Top]

Getreading

Reading has been named as one of the areas likely to be hit hardest by Brexit

A new report put Reading in third place of areas worst hit by a hard Brexit

A new report by the think tank Centre for Cities and the Centre for Economic Performance at the London School of Economics reveals the cities and towns most affected by a soft leaving of the European Union and a hard exit.

Professor Stephen Machin, from the Centre for Economic Performance, added: “This research shows that focusing on the likely local economic impacts of Brexit will be a critical ingredient for policymakers when thinking about how to offset the negative economic effects that loss of trade due to Brexit will bring.”

Related publications

‘Brexit, Trade and the Economic Impacts on UK Cities’, Naomi Clayton and Henry Overman, Centre for Cities briefing, July 2017

http://www.centreforcities.org/wp-content/uploads/2017/07/17-07-26-Brexit-trade-and-the-economic-impacts-on-UK-cities.pdf


Related Links:
Getreading - Reading has been named as one of the areas likely to be hit hardest by Brexit

The Local Economic Effects of Brexit

CEP Labour Markets CEP Trade CEP Urban and Spatial Programme

Swati Dhingra webpage

Stephen Machin webpage

Henry Overman webpage



News Posted: 02/08/2017      [Back to the Top]

FXdailyreport

The Past, Present, and Future of Brexit

Snippet: Many journalists have said the floodgates are now open for a lot of other countries to try and exit the EU including a big country like Spain. John Van Reenen of the London School of Economics called Brexit “a drumbeat of anti-foreigner sentiment. The only question is which other countries will now be swept along in this poisonous flood.”


Related Links:
FXdailyreport - The Past, Present, and Future of Brexit

CEP Growth

John Van reenen webpage



News Posted: 02/08/2017      [Back to the Top]

LSEIQ podcast

Episode 2 | What's the future of work?

Tackling the question, ‘What’s the future of work’, are: Professor David Graeber of LSE’s Department of Anthropology; Dr Aleks Krotoski, social psychologist, technology journalist and former visiting fellow in LSE’s Media and Communications Department ; Dr Guy Michaels, LSE Associate Professor of Economics; and Leslie Willcocks , Professor of Technology, Work and Globalisation at LSE. 


Related Links:
LSEIQ podcast - Episode 2 | What's the future of work?

Robots at work: the impact on productivity and jobs

Robots at work: the impact on productivity and jobs

CEP Labour Markets

Georg Graetz webpage