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CentrePiece - Volume 17, Issue 3, Winter 2012
The UK's housing crises
New research findings from CEP are highlighted in the Winter 2012 issue of CentrePiece magazine:
GROWTH: GDP remains a valuable indicator of the overall wellbeing of society
UK HOUSING CRISES: planning system must encourage much more house-building
PEACE DIVIDENDS: house prices provide a measure of the value of ending conflicts
HOME-WORKING: travel agent’s experiment leads to improved staff performance
SEXISM IN SCIENCE?: evidence from student selection into a top French university
SEXISM AT WORK?: evidence from nineteenth century Swedish tobacco factories
AMERICA’S FISCAL CLIFF: what it is and why it threatens a return to recession
UK IMMIGRATION: new focus on the gains to residents rather than simply to GDP
Not enough houses of the kind people want in the places where they want to live – that’s the big problem, according to Henry Overman.
Nicholas Oulton responds to arguments that promoting the growth of GDP is undesirable or even irresponsible.
David Metcalf, chair of the Migration Advisory Committee, outlines recent changes in the regulatory framework for immigrant workers.
Ethan Ilzetzki and Jonathan Pinder explain the US policy debate on taxes, spending and public debt.
Elsewhere in this magazine we report research findings on whether homeworking is a good idea; on gender gaps in nineteenth century factories and twenty-first century universities; and on the value of ending conflict as reflected in house prices. The ‘peace dividend’ study is co-authored by Tim Besley, co-chair of the Growth Commission, which will publish its recommendations at the end of January 2013.
To read ALL the articles please go to the CentrePiece website at http://cep.lse.ac.uk/CentrePiece - OR -
To keep up to date with the very latest articles from the magazine subscribe to the new CentrePiece webfeed
The impact of CEP's research on public policy and debateGo to our Big Ideas website
The impact of CEP's research on public policy and debate is profound. This is clear from seeing how often our research is quoted in the media and by policy makers.
But the influence of our research ideas is often harder to see in the daily news cycle, as often it enters the DNA of political discourse without reference back to the original work.
In this series of "Big Ideas" we survey some of the ways in which CEP's research has had an impact and how this has happened.
Press inquiries should be directed to Romesh Vaitilingam (Tel: 07768-661095 Email: firstname.lastname@example.org), or if unavailable, to Helen Durrant (Tel: 020 7955 7395 Email: email@example.com)
Go to our Big Ideas website
Latest Papers from the CEP
For a full list or to browse a complete series select from the menu options on the left.
CEP Discussion Paper
Pushing On a String: US Monetary Policy is Less Powerful in Recessions
Silvana Tenreyro, Gregory Thwaites, May 2013
Paper No' CEPDP1218: Read Abstract | Full paper
CEP Discussion Paper
The Financial Resource Curse
Gianluca Benigno, Luca Fornaro, May 2013
Paper No' CEPDP1217: Read Abstract | Full paper
CEP Discussion Paper
Innovation, Reallocation and Growth
Daron Acemoglu, Ufuk Akcigit, Nicholas Bloom, William R. Kerr, May 2013
Paper No' CEPDP1216: Read Abstract | Full paper
CEP Discussion Paper
Has Job Polarization Squeezed the Middle Class? Evidence from the Allocation of Talents
Michael J. Boehm, May 2013
Paper No' CEPDP1215: Read Abstract | Full paper
Richard Layard and Stephen J. Nickell
Edited by Werner Eichhorst and Klaus F. Zimmermann
OUP (May 2011)
Combatting Unemployment is a collection of key papers from seminal labour economists Richard Layard and Stephen J. Nickell.
The authors received the IZA Prize in Labor Economics in 2008 for their path-breaking work on the relationship between labor market institutions and unemployment
Why is unemployment higher in some countries than others? Why does it fluctuate between decades? Why are some people at greater risk than others?
Layard and Nickell have worked on these issues for thirty years. Their famous model, first published in 1986, is now used throughout the world. It asserts that unemployment must be high enough to reduce the real wages for which workers settle to the level justified by productivity. So what affects 'wage push'? The authors showed early on that the key factors affecting 'wage push' are how unemployed workers are treated and how wages are negotiated. If unemployed people get benefits without being required to accept jobs, vacancies go unfilled and mass unemployment results. The solution is welfare-to-work policies like those now introduced in most parts of the world.
The authors have proposed these policies for the last twenty-five years in a series of key articles reproduced in this book. Their original analysis explains the subsequent movement of unemployment over the last two decades. They conclude the book with a new chapter on what should be done in the recession: no-one, they say, should be given unemployment benefit beyond a year, after which they should be offered work.
Purchase this book from the publisher
Penguin (April 2011)
In this new edition of his landmark book, Richard Layard shows that there is a paradox at the heart of our lives. Most people want more income. Yet as societies become richer, they do not become happier. This is not just anecdotally true, it is the story told by countless pieces of scientific research. We now have sophisticated ways of measuring how happy people are, and all the evidence shows that on average people have grown no happier in the last fifty years, even as average incomes have more than doubled. In fact, the First World has more depression, more alcoholism and more crime than fifty years ago. This paradox is true of Britain, the United States, continental Europe, and Japan. What is going on? Now fully revised and updated to include developments since first publication, Layard answers his critics in what is still the key book in 'happiness studies'.
Paul Gregg & Jonathan Wadsworth (Editors)
Oxford University Press (January 2011)
£30.00 / $55.00
This collection of essays - by leading economic experts on the UK labour market - provides an overview of the key issues concerning the performance of the labour market, and the policy issues surrounding it, with a focus on the recent recession and its aftermath. The result is the first comprehensive analysis of the economic downturn and the Labour government's record in the fields of employment, education, and welfare.
The result is the first serious comprehensive analysis of the economic downturn and the Labour government's record in the field of employment, spanning its time in office. An indispensable reference source on contemporary labour market developments in the UK, this book will be required reading, and of lasting use, to academics, students, practitioners, and policy makers.
Professor Paul Gregg and Professor Jonathan Wadsworth are both senior research fellows in LSE's Centre for Economic Performance's labour markets programme.Purchase this book from the publisher Go to the The Labour Market in Winter website where you can
Josh Lerner & Mark Schankerman
MIT Press (Dec 2010)
£25.95 / $35.00
Discussions of the economic impact of open source software often generate more heat than light. Advocates passionately assert the benefits of open source while critics decry its effects. Missing from the debate is rigorous economic analysis and systematic economic evidence of the impact of open source on consumers, firms, and economic development in general. This book fills that gap. In The Comingled Code, Josh Lerner and Mark Schankerman, drawing on a new, large-scale database, show that open source and proprietary software interact in sometimes unexpected ways, and discuss the policy implications of these findings.
The new data (from a range of countries in varying stages of development) documents the mixing of open source and proprietary software: firms sell proprietary software while contributing to open source, and users extensively mix and match the two. Lerner and Schankerman examine the ways in which software differs from other technologies in promoting economic development, what motivates individuals and firms to contribute to open source projects, how developers and users view the trade-offs between the two kinds of software, and how government policies can ensure that open source competes effectively with proprietary software and contributes to economic development.
For more info, or to purchase online, please visit the MIT website
The Economist - 15 Jan 2011, p.78, Unattributed
Open-source software Untangling code
Editorial regarding programs written by volunteers. It is mentioned that John Lerner and Mark Schankerman, professor at Harvard Business School and the LSE have written 'The Comingled Code'.
The Future of Finance: The LSE Report
Joshua D. Angrist and Jörn-Steffen Pischke
Princeton University Press (4 Jan 2009)
£54.00 and £24.95
The core methods in today's econometric toolkit are linear regression for statistical control, instrumental variables methods for the analysis of natural experiments, and differences-in-differences methods that exploit policy changes. In the modern experimentalist paradigm, these techniques address clear causal questions such as: Do smaller classes increase learning? Should wife batterers be arrested? How much does education raise wages? Mostly Harmless Econometrics shows how the basic tools of applied econometrics allow the data to speak. In addition to econometric essentials, Mostly Harmless Econometrics covers important new extensions - regression-discontinuity designs and quantile regression - as well as how to get standard errors right. Joshua Angrist and Jörn-Steffen Pischke explain why fancier econometric techniques are typically unnecessary and even dangerous. The applied econometric methods emphasized in this book are easy to use and relevant for many areas of contemporary social science. This book features: an irreverent review of econometric essentials; focus on tools that applied researchers use most; chapters on regression-discontinuity designs, quantile regression, and standard errors; many empirical examples; and, a clear and concise resource with wide applications.
Richard Layard and Judy Dunn
Penguin (5 Feb 2009)
Every day the newspapers lament the problems facing our children - broken homes, pressures to eat and drink, the stress of exams. The same issues are discussed in every pub and at every dinner party. But is life really more difficult for children than it was, and if so why? And how can we make it better? This book, which is a result of a two year investigation by the Children's Society and draws upon the work of the UK's leading experts in many fields, explores the main stresses and influences to which every child is exposed - family, friends, youth culture, values, and schooling, and will make recommendations as to how we can improve the upbringing of our children. It tackles issues which affect every child, whatever their background, and questions and provides solutions to the belief that life has become so extraordinarily difficult for children in general. The experts make 30 specific recommendations, written not from the point of view of academics, but for the general reader - above all for parents and teachers. We expect publication to be a major event and the centre of widespread media attention.
Richard Layard is Emeritus Professor of Economics at the London School of Economics, and author of the best-selling Happiness (Penguin, 2005). He was founder-director of the Centre for Economic Performance at the London School of Economics and now heads its programme on well-being. He is also a member of the House of Lords.
Judy Dunn is Professor of Developmental Psychology at the Institute of Psychiatry, King's College London. Her research interests are in children's social, emotional and communicative development, studied in their families and with their friends. She is Chair of the Good Childhood Inquiry.
Read the press coverage of A Good Childhood: Searching for Values in a Competitive Age
View our Policy Analysis series.
We will try to answer inquiries relating to this work whenever possible. Press inquiries should be directed to Romesh Vaitilingam (Tel: 07768-661095 Email: firstname.lastname@example.org), or if unavailable, to Helen Durrant (Tel: 020 7955 7395 Email: email@example.com)
See also briefings in our Election Analysis series, examining key issues in the 2010 UK General Election campaign.
The Centre for Economic Performance, McKinsey & Company and Stanford have developed an innovative new methodology to survey management practices in over 4,000 firms across Europe, the US and Asia.
Analysing this data they demonstrate a surprisingly large dispersion in management practices across firms and nations, and an important role for competition, ownership and education in explaining these differences. They also find firms are surprisingly poor at self assessing their own management practices.
To download the report and full academic survey methodology, questionnaire and results go to the Management Practice and Productivity site at http://cep.lse.ac.uk/management/
Annual Report:Full details of work completed and projects undertaken at the CEP are available in our Annual Report. [Full document in PDF] The latest annual report was published in April 2013 for work completed and conducted from January 2012 - Dec 2012.
To view view all our past annual reports see our Annual Report page.
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