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Congratulations to Dennis Novy, professor of economics at the University of Warwick and research associate in CEP's trade programme, who has been appointed as chief economist and director of analysis at the Foreign, Comm... Read more...
03 October 2025
Richard Davies writes for The Observer about usefulness, and perils, of bond markets. ... Read more...
13 July 2025
Jonathan Haskell and Matthew J Slaughter write for Foreign Affairs about Trump's tariffs and the prices of economic uncertainty. ... Read more...
10 June 2025
We are deeply saddened to hear that CEP associate Ghazala Azmat, Professor of Economics at Sciences Po, passed away on Saturday, 7 June. Ghazala was a leading applied microeconomist, known for her work on labour markets,... Read more...
Thomas Sampson speaks to presenter Tim Harford about the US tariffs on global trade that were announced by president Donald Trump on 2 April 2025 ... Read more...
04 April 2025
The UKRI Economic and Social Research Council (ESRC) has awarded the Centre for Economic Performance (CEP) £9.2mn for its five-year programme of work from 2025. This renewed funding will enable CEP to co... Read more...
18 March 2025
Thomas Sampson discusses how UK growth in goods exports and imports has been "the weakest in the G7", which has "contributed to the ongoing stagnation of the UK economy". ... Read more...
01 February 2024
To understand what is happening to inequality between people we need to understand the behaviour of, and inequality between, firms. Papers published last month as part of the IFS Deaton Review of inequality in work, led ... Read more...
25 April 2022
Interview with Swati Dhingra - is this the end of globalisation? In a series of special programmes, Newsnight looks at the impact of the war in Ukraine on the world. ... Read more...
18 March 2022
Joint research from the Centre for Economic Performance and the Resolution Foundation suggests that financial officers expect the amount of workers moving from shrinking to growing companies will spe... Read more...
20 November 2021
Congratulations to Josh De Lyon who has won a Trade and Investment in Services Associates (TIISA) Young Scholar Award for his paper The Labour Market Effects of Services Importing: Evidence from the United Kin... Read more...
20 October 2021
Amid criticism of a government-commissioned race report for downplaying the extent of problems in the labour market, Alan Manning explains there's no evidence for pay gaps being smaller than they we... Read more...
18 April 2021
House prices could fall when the stamp duty holiday comes to a close. London is particularly vulnerable because the price of houses rose particularly sharply over 2020, while the population of the capital... Read more...
30 March 2021
LSE study says there has been little exodus to rural areas in past year but buyers have sought space, with detached houses close to the centre of London seeing the biggest price increases over the past year. ... Read more...
In light of the Biden adminstration's Covid-19 Relief Bill, Felix Koenig analysis the historical impact of minum wage bills on jobs and wages. ... Read more...
26 February 2021
Alan Manning considers the possible outcomes of a drop in immigration and population growth on productivity, economic growth and the labour market. ... Read more...
21 January 2021
New research by Jack Blundell, Steven Machin and Maria Ventura finds a fifth of the self-employed workforce expect to leave self-employment as a result of the Covid-19 crisis; and the proportion is h... Read more...
23 November 2020
This column combines survey data from the UK with occupation classifications to show that that – unlike previous recessions – the current crisis is harming women’s labour market prospects mor... Read more...
22 April 2020
The coronavirus has not yet exploded in the developing world, but poor countries are already suffering from the pandemic. Their economies have been battered by lockdowns, falling commodity prices, declining re... Read more...
20 April 2020
This research finds that workers in atypical employment, such as gig economy workers, are willing to give up approximately 50% of their hourly wage for a permanent contract and around 35% of their hourly wage ... Read more...
17 April 2020
In Social Mobility and its Enemies, Lee Elliot Major and Stephen Machin offer a thought-provoking assessment of the state of social mobility in Britain. In the context of much social and political change and rising level... Read more...
29 September 2019
Lisa Cook, Michigan State University Economics Professor references Opportunity Insights' Who Becomes an Inventor in America? The Importance of Exposure to Innovation by Alex Bell, Raj Chetty, Xavier Jaravel, Neviana Pet... Read more...
24 September 2019
In their robotics focussed study carried out in 2015, Graetz and Michaels concluded that robot densification increased the annual growth of GDP and labour productivity by about 0.37% and 0.36% respectively across 17 coun... Read more...
23 September 2019
Richard Davis talks about his new book, Extreme Economies. ... Read more...
19 September 2019
To find the world's most extreme economies you generally have to travel far from the beaten track. There is one exception to this rule, a city closer to home that was described best by Sean Connery in The Bowler and the ... Read more...
14 September 2019
The winners of the 2019 WTO Essay Award for Young Economists are Jan Bakker of Oxford University and Federico Huneeus of Princeton University, who were ranked in equal first place by the Selection Panel. They will share ... Read more...
12 September 2019
Such things occur outside idle thought experiments. Guy Michaels, of the London School of Economics, and Ferdinand Rauch, of the University of Oxford, studied the fortunes of Roman-era towns in Britain and France. When t... Read more...
09 September 2019
Just 41 percent of all 30-year-olds earned more in 2017 than their parents did when they were the same age. Two decades earlier, the proportion had been two-thirds higher: in 1995, 69 percent of the age group were better... Read more...
02 September 2019
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30 August 2019
Tito Boeri interviews Raghuram G. Rajan With industrialized countries beset by a political backlash against trade, technology, migration, and other hallmarks of the modern global economy, expert solutions are needed now... Read more...
28 June 2019
"One thing is really clear: There has got to be a reset in the world trading system," said Swati Dhingra, an economist at the London School of Economics. "It's all breaking at the seams at this point."... Read more...
21 June 2019
20 June 2019
The achievements of the Chinese and Vietnamese economies lead to a debate on state capitalism as a viable model of further development. Economists Leonardo Baccini, Giammario Impullitti and Edmund Malesky present on VoxE... Read more...
19 June 2019
Dr Swati Dhingra, assistant professor at the London School of Economics, specialising in globalisation and industrial policy, says there's not enough trained staff to power it. "Compared to other creative or tech-based ... Read more...
20 May 2019
Donald Trump has cited the example of one of his US presidential predecessors, Ronald Reagan, in support of his protectionist policies. But as research by Ufuk Akcigit, Sina Ates and Giammario Impullitti shows, it was th... Read more...
19 March 2019
Ben Chu, Economics Editor of BBC Newsnight, showed a graph on FDI outflows from the UK (actual vs. expected) on BBC2 Newsnight on 07 March 2019. This graph is taken from CEP Brexit Analysis No. 13, Figure 2. 19:20min ... Read more...
07 March 2019
MGI was putting its finishing touches on the report in early 2016, but held its publication for the Brexit vote in March. "We weren't surprised by the outcome," Manyika told me. "We had been sitting on this research show... Read more...
07 February 2019
Long term is worse. "Our best estimate is that GDP per capita will be 6.3 to 9.5 per cent per year lower than it would be if we were to remain in the EU," wrote John Van Reenen, today an economics professor at MIT. "At t... Read more...
18 January 2019
Research by London School of Economics professor Stephen Machin and Richard Murphy at The University of Texas at Austin revealed that by paying higher fees, international students in effect subsidise certain domestic stu... Read more...
09 January 2019
Thomas Sampson, a London School of Economics scholar, detects a wider global meaning in Brexit. "The period since world war II has been marked by growing economic and cultural globalisation and, in Europe, increasing pol... Read more...
08 January 2019
Recent political developments in the US and Europe have led to renewed interest in the large and persistent regional disparities which plague our societies. These disparities have been partly driven by a secular decline ... Read more...
11 December 2018
Left-behind places are lending themselves increasingly to the forces of populism and political disintegration, writes Riccardo Crescenzi. A complex flow of investment is spreading across the globe, connecting more a... Read more...
07 November 2018
• A commentary on how to help the those hurt by trade Paul Samuelson, a Nobel prize-winning trade economist, argued in 1941 that globalisation causes economic hardship for some. He wrote that the lo... Read more...
02 June 2018
Silicon Valley and the City of London should give up some of their massive gains from globalization to ensure workers in cities like Detroit and Hull do not continue to fall behind. But… &ldqu... Read more...
29 May 2018
Letter from Richard Layard, Director, Wellbeing Programme, London School of Economics and Political Science: “We now have the knowledge to implement that approach. Much of it is found in the annual... Read more...
19 May 2018
Relocation is one successful example of public sector jobs boosting private sector activity, write Giulia Faggio, Teresa Schlüter and Philipp vom Berge. In a recent SERC discussion paper, we study t... Read more...
09 April 2018
DUBAI: Professor Jeffrey Sachs, renowned economist and Chair of the World Happiness Council, has led a plenary session to discuss the findings of the first Global Happiness Policy Report on the opening day of ... Read more...
13 February 2018
Swati Dhingra has been awared a European Research Council Starting Grant for the BIGlobal project, which will examine the sources of firm growth and market power to provide new insights into welfare and policy... Read more...
01 February 2018
Gianmarco Ottaviano of the London School of Economics and Giovanni Peri of UC, Davis, looking at U.S. labor markets, estimate that between 1990 and 2006 new immigrants reduced wages of previous immigrants by a... Read more...
30 January 2018
It is paradoxical that despite being richer every day we can not use that wealth in a way that makes us happier, because working more for less makes us unhappy, and what would make us happier would be to work ... Read more...
29 December 2017
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 b... Read more...
01 December 2017
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 econo... Read more...
01 November 2017
Dennis Novy interviewed on globalisation and Brexit. ... Read more...
31 October 2017
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 prote... Read more...
20 October 2017
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 dist... Read more...
19 October 2017
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 ... Read more...
17 August 2017
13 July 2017
Globalisation, technological progress and a range of policies and institutions are driving ‘Great Divergences’ in wages and productivity, write Giuseppe Berlingieri, Patrick Blanchenay and Chiara C... Read more...
05 July 2017
What explains this persistence? The results of our recent work suggest some considerations. The evolution of economic activity throughout the country has systematically favoured at the expense of other area... Read more...
23 June 2017
According to Dennis Novy, Associate Professor of Economics at the University of Warwick: “TTIP has the potential to benefit millions of consumers. It goes far beyond an economic project. Its current time... Read more...
07 June 2017
Higher price inflation as a result of sterling’s depreciation following the vote to leave the EU, coupled with nominal wage growth stuck at a norm of 2% a year, means that once again the UK faces falling... Read more...
22 May 2017
Article by John Van Reenen. Managers are more frequently the butt of jokes from TV shows like “The Office” to “Horrible Bosses,” than seen as drivers of growth. But maybe things ar... Read more...
09 May 2017
… Labor economists of the United Kingdom, as well as co-author of both Richard Layard that Steven Nickell, we need the introduction of the NAIRU in 1986. Related publications Combatting Unemployme... Read more...
16 March 2017
Chancellor Angela Merkel and international experts have discussed ways of improving global health. This is a matter of major importance, she said, and thus one of the priorities of Germany’s G20 Presiden... Read more...
10 March 2017
Not surprisingly, when an index for global political uncertainty, compiled records so unsafe level, inter alia by the Stanford economist Nicholas Bloom, on a high, (Stanford). And Austria's foreign trade m... Read more...
27 January 2017
There are several worrying trends in the global economy, such as rising inequality within countries and slowing productivity growth. But perhaps the most troubling of them is the fall in labor’s share of... Read more...
Britain’s manufacturing heritage is told through faded photos of workers on assembly lines, or operating basic tools. But that was the 1970s, and in the 21st century, a factory has a lot more robots. Usi... Read more...
26 January 2017
A multitude of studies weaken the prophecy of universal income advocates: that of researchers Georg Graetz and Guy Michaels (2015) , who found, by analyzing seventeen countries over fifteen years, the robot ha... Read more...
And it isn't "infrastructure" Improving our management skills is part of this. John van Reenen at the London School of Economics has written about how the quality of management in different co... Read more...
25 January 2017
Dennis Novy gave a live radio interview [8.35-8.40am] on Donald Trump and his withdrawal from the Transpacific Partnership (TPP, the trade deal previously negotiated by Barack Obama with Asian/Austra... Read more...
24 January 2017
Maria Sanchez Vidal: "the coexistence between Commerce of proximity and large surfaces trade is possible" Is author of a study on the effect of the introduction of superstores in respect of a city... Read more...
In a new paper called “Is Modern Technology Responsible for Jobless Recoveries?,” economists George Graetz and Guy Michaels looked at 17 different developed countries, from 1970 through 2011. The t... Read more...
23 January 2017
Most rich countries hire back workers after a recession. The U.S. replaces them with machines Economists have recently discovered that it’s middle-skill routine jobs -- think of cashiers, telemarketer... Read more...
So, the White House cites a study of 2015 by George Graetz and Guy Michaels made in 17 countries, that concluded that the robots helped to increase the wealth of those countries by 0.4% between 1993 ... Read more...
30 December 2016
In fact the industry 4.0 represents a great opportunity for our manufacturing and for once never catches us completely off-guard. According to a recent study carried out by economists George Graetz and Guy Mic... Read more...
02 December 2016
The commonly held belief that immigrants hold down the wages of native workers is also doubtful. The economic literature is mixed although a paper by Marco Manacorda, Alan Manning and Jonathan Wadsworth of the... Read more...
17 November 2016
Dr Swati Dhingra on BBC News (19:35) commenting on PM Theresa May's speech on remaking globalization. [No link available.] ... Read more...
14 November 2016
Given the increased usage of robotics and other automation, how will that impact the productivity numbers? In July of 2015, Georg Graetz and Guy Michaels published a paper, “Estimating the Impact of Robo... Read more...
07 November 2016
Article sources a figure from 'Guessing game: Actual job losses due to robots may not be as bad as anticipated for most countries' (Source: George Graetz and Guy Michaels, “Robots at Work”.... Read more...
27 October 2016
In today's interview, we sat down with Alan Manning, Professor of Labour Economics at the London School of Economics. He is a leading author in his field, particularly in understanding the imperfections of labour markets... Read more...
27 September 2016
Even [Sadiq] Khan's predecessor Boris Johnson campaigned with several plans to build 55,000 new homes in London and to slow down the price increase caused by demand pressures. Up to the end of his tenure, he failed. Khan... Read more...
22 September 2016
The likely Locus of search robots and packaging of 25 thousand square meter warehouse helps to increase the productivity of the warehouse up to 800 percent. A previous study of Georg Graetz scientists and Guy Michaels (... Read more...
16 August 2016
New initiatives planned to end 'unacceptable and unlawful' discrimination against working women Employers are being told to do more to help mothers breastfeed their babies at work, as part of the government's latest i... Read more...
15 August 2016
Davvero i robot ci ruberanno il lavoro? A che cosa serve davvero l'automazione? Tutte queste predicazioni hanno in comune di invitare i popoli ad abbandonare qualsiasi progetto di poter in qualche modo essere protagonist... Read more...
12 August 2016
Article by Brian Bell and John Van Reenen Lacklustre growth seems to be the new normal almost everywhere in the world except for one area - CEO pay. This column uses data on UK publicly listed firms to examine whether ... Read more...
05 August 2016
A couple of thoughtful pieces to throw into the melee post-referendum. First Tim Harford in today's FT And to the idea that economists don't know what they are talking about (a new broadly held myth scaled up by the fac... Read more...
20 July 2016
Ahead of the Brexit vote, the great transnational institutions that have come to, if not govern, then certainly guide the post-World War Two order were all out talking apocalypse. Britain will ''almost certainly... Read more...
Various analysis have shown that Brexit will adversely affect Britain's economy. According to the Centre for Economic Performance, LSE, Britain's economy will decrease by 1.3 per cent to 2.6 per cent without considering ... Read more...
12 July 2016
FRIDAY was the day when international markets absorbed the shock of the British vote to leave the European Union; a vote that few investors had anticipated. But today, market focus shifted back to the places where the vo... Read more...
27 June 2016
''IMMIGRATION, immigration, immigration'', shouted a headline in the Sun, a right-wing tabloid newspaper, the week that Britain voted to leave the European Union. It followed weeks of campaigning from the Leave side assu... Read more...
John Van Reenen, Professor at the London School of Economics, said on Friday in an interview issued by the American channel CNBC that the companies ''will not want to take investment decisions because they have uncertain... Read more...
26 June 2016
According to John Van Reenen, Director of the Center for Economic Performance who said: "the same phenomenon will occur as being ''dubious'' in a period when businesses don't like to take new decisions or new invest... Read more...
25 June 2016
In an interview to CNBC, John Van Reenen, director of the Centre for Economic Performance at the London School of Economics said the short-term impacts would be painful: ''You get a rabbit-in-the-headlights phenomenon wh... Read more...
The decision left the United Kingdom society of the European Union does indeed have fueled new uncertainty. ''Businessmen reluctant to take new decisions or affect investments, because of the uncertainty for the future,'... Read more...
24 June 2016
In crudest outlines, the panic that followed Britain's vote to quit the European Union traced the 2008 collapse of Lehman Brothers, an event that turned an unfolding financial crisis into the bleakest economic downturn s... Read more...
Minford said that the economy would be more dynamic and more efficient now that we're out of the EU. Swati Dhingra disagreed, saying that the economy would suffer because of a shallower pool of talent from other EU co... Read more...
The Center for Economic Performance at the London School of Economics finds that EU immigrants to Britain are better educated and more likely to ... This article was published online by The Wall Street Journal on Ju... Read more...
22 June 2016
Article by Cletus C. Coughlin and Dennis Novy Borders impede trade, and a major objective of research in international trade has been to identify by how much. This column argues that bilateral trade data can give a misl... Read more...
08 May 2016
Whether Britain loses access to the single market depends on the terms of any exit. Under the optimistic scenario, Britain would join the European Economic Area as non-member countries like Norway and Switzerland have do... Read more...
15 April 2016
And it is a global problem: wage growth has been weak throughout the world for almost a decade. ''In the last seven to eight years, wage growth has been very disappointing in the world,'' says John Van Reenen, director o... Read more...
15 March 2016
John Van Reenen is director of the Centre for Economic Performance at the London School of Economics. ''Over the last seven or eight years, wage growth has been very disappointing all over the world. After the Second Wo... Read more...
09 March 2016
John Van Reenen discusses a decade of weak wage growth worldwide and its consequences This interview was broadcast by BBC World News on March 8, 2016 Link to interview here Also on WUWM-FM , WUNC-FM, WBFO-FM, NPR/Na... Read more...
08 March 2016
Source: London School of Economics and Political Science Country: World Abstract Does economic activity relocate away from areas that are at high risk of recurring shocks? We examine this question in the context of floo... Read more...
03 March 2016
Tumbling global markets are issuing a cry for help to policymakers of all stripes: Do something. As investors, traders and pundits scramble to understand the reasons for the terrible start to 2016, more and more are look... Read more...
21 January 2016
Health care is among the largest sectors of the U.S. economy and accounted for more than 17 percent of gross domestic product (GDP) in 2014. About 60 percent of the U.S. population has private health insurance, which pay... Read more...
15 December 2015
Researchers have compiled data on $682 billion worth of claims to look at the truth behind medical costs. This article was published online by Marketplace.org on December 15, 2015 Link to article here Related publi... Read more...
In order of importance, it can be compared with the steam machine's breakthrough in the beginnings of industrialisation, according to Department of Economics Researcher George Graetz at Uppsala University. This article ... Read more...
16 November 2015
Article by Gianluca Benigno, Nathan Converse and Luca Fornaro In the aftermath of the Global Crisis, policymakers have adopted policies to limit, or at least manage, capital inflows. This column explores episodes of cap... Read more...
11 October 2015
David Attenborough, Brian Cox, Paul Polman, Jeffrey Sachs and Arunabha Ghosh all sign letter calling for action by UN climate conference in December The international group of experts and CEOs back a new 'Global Apollo ... Read more...
16 September 2015
However, other studies show that the influx of immigrants has negative effects on the median salary (but not on employment) natives working in low-skilled sectors such as the building and public works, so on the remunera... Read more...
14 September 2015
Pero no es el unico que comparte ese punto de vista. Tambien Luis Garicano, profesor de la London School of Economics, analizaba los retos a los que se enfrenta la economia global en los proximos anos en un encuentro rec... Read more...
11 September 2015
In a new paper from London's Center for Economic Research [sic] George Graetz, of Uppsala University, and Guy Michaels, of London School of Economics found that industrial robots have actually driven labor productivity a... Read more...
13 August 2015
Article by Bill Gates Last month, during a trip to Europe, I mentioned that I plan to invest $1 billion in clean energy technology over the next five years. This will be a fairly big increase over the investments I am a... Read more...
03 August 2015
Article by Richard Layard Leading thinkers across the worlds of science, public service and academia have launched a new global programme to combat climate change. Richard Layard outlines their proposal for big public i... Read more...
This autumn sees the launch of the Global Apollo Programme: a green research initiative that wants governments to match, in today's money, the sums spent putting men on the moon. At a time of increasing austerity, reques... Read more...
So if innovation seems to be booming, why has productivity growth been muted? A common argument is that the effect of innovation is being incorrectly measured. The advent of the Sharing Economy, which forms a chapter in ... Read more...
30 July 2015
Humans and robots: together unbeatable The current study ''Robots at Work'' by Graetz and Michaels (Uppsala University and London School of Economics), which examines the impact of increasing automation on the economic ... Read more...
13 June 2015
...its roster of contributors includes John F. Helliwell, Richard Layard of the London School of Economics, and Jeffrey D. Sachs who is, among other things, special advisor to U.N. Secretary-General Ban Ki-moon. Overall,... Read more...
10 June 2015
Article by Richard Layard, Gus O'Donnell, Nicholas Stern, Adair Turner If clean energy were cheaper than dirty energy, climate change would halt. Making clean energy cheaper is a problem - like putting a man - on the... Read more...
08 June 2015
India will be a member of a consortium of countries that will implement the Global Apollo Programme - a plan to find ways within the next 10 years of making green energy clean cheaper to produce than energy drawn from c... Read more...
03 June 2015
In the deepest chill of the Cold War, then-president of the United States John F. Kennedy announced to the country, and the world, that ''we choose to go to the moon.'' The Apollo Programme placed a man on the moon withi... Read more...
''The challenge is as big as putting a man on the moon,'' says Richard Layard of the London School of Economics, one of the founders of the programme along with other prominent scientists, economists and industrialists. ... Read more...
A number of Britain's leading experts in the field of climate research are focused on achieving the goal of solving the world's most pressing problem: the continued global temperature rise. This article was published on... Read more...
Marco Manacorda filmed giving a talk at the Festival of Economics on Trento. There is abundant anecdotal evidence but poor empirical evidence of the benefits enjoyed by the relatives of politicians in the labor market. ... Read more...
02 June 2015
Lord Richard Layard, an economist at the London School of Economics and member of the Apollo group, said it was barely believable that the world only spent 2% of its R&D money on its ''most pressing problem'' of clim... Read more...
Interview with Lord Layard regarding launch of the 'Apollo' programme to make renewables cheaper than fossil fuels. The interview was broadcast by the BBC World Service News on June 2, 2015 [No link available.] Relate... Read more...
Article by Richard Layard The target for GAP is to reduce the cost of clean energy and to do it fast. This article was published by The Huffington Post on June 2, 2015 Link to article here Related links 'Global ... Read more...
Leading academics, including former government chief scientist Sir David King, past president of the Royal Society Lord Rees, and economists Lord Stern and Lord Layard, in effect said that the world cannot be saved from ... Read more...
There is a human mass that despite being available for work and knowledge loses ability to be employed. This generates a terrific competition by seeking higher returns among the cheapest labour in Asia and the suppressor... Read more...
28 January 2015
If successfully concluded, the Transatlantic Trade and Investment Partnership (TTIP) would be the most ambitious free trade agreement in history, writes Dennis Novy - and it has the potential to benefit millions of cons... Read more...
23 January 2015
Economist Stephen Machin, a professor at University College London said: ''Creating jobs with decent pay as innovative technologies evolve is a challenge given the UK's traditional difficulties in generating good jobs fo... Read more...
20 January 2015
Interest rates must start rising soon, to wean the UK off crisis-era monetary policy, five former members of the Bank of England's rate setting body say. Financial markets are not expecting a first rate rise until late n... Read more...
01 January 2015