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News Archive 2010
International Herald TribuneSpain has new plan to avert crisisThe Spanish prime minister brought in measures yesterday aimed at distancing the country from other troubled countries within the eurozone. Luis Garciano a Spanish professor at the LSE is quoted as saying that the markets are doubting due to not seeing how the debt can be financed and paid down.This article appeared in the International Herald Tribune on December 2, 2010 Link to article Related Links Luis Garicano webpage Productivity and Innovation Programme webpage News Posted: 02/12/2010 [Back to the Top] 
CEP Special EventWorking with World Bank Data - Dr Eric Swanson, World BankMonday 22nd NovemberDr. Eric Swanson, senior advisor to the director of the Development Data Group at the World Bank, will discuss the sources and methods used to compile the World Development Indicators and other databases maintained by the World Bank.The World Bank's recently announced policy of providing free and unrestricted access to its databases has opened up a large amount of new information for students and researchers. Dr. Swanson is an economist who has spent his career collecting, analyzing, and publishing data on developing countries. There will be a talk and presentation Monday 22nd November 10.30-11.45, in LRB 405 (CEP Conference Room) 4th Floor, Research Laboratory followed by one-on-one meetings with Dr Swanson between 1.00 pm and 5.00 pm. If you would like to meet with Dr Swanson and discuss World Bank data, or attend the event please go to the event webpage for further details: For further information Please visit the Working with World Bank Data webpage Photo copyright © Simone D. McCOurtie / World Bank News Posted: 22/11/2010 [Back to the Top] 
Improvement and Development AgencyThe local wellbeing projectIt was run by Local Government Improvement and Development (previously the IDeA), the Young Foundation and the London School of Economics Centre for Economic Performance, in collaboration with Hertfordshire, Manchester and South Tyneside Councils.This article generated by the Improvement and Development Agency Link to article Related Links Richard Layard webpage Wellbeing Programme webpage News Posted: 21/11/2010 [Back to the Top] 
Prospect MagazineCavalier cuts‘Coalition plans to cap benefits will not work as intended, and are unnecessarily draconian’ – Article by Dr Tim Leunig, a reader in economics at LSE.This article appeared in Prospect Magazine on November 18, 2010 Link to article Related Links Tim Leunig webpage Globalisation Programme webpage Tim Leunig publications webpage News Posted: 18/11/2010 [Back to the Top] 
CentrePieceAutumn 2010 Issue Now Out: THE NHS WHITE PAPER: Evolution or Revolution?Articles for this issue will be available for download on Wednesday 10 November 2010. Please visit 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 
After the worst recession since the Second World War, the problem of unemployment is perhaps the biggest challenge facing policy-makers. So far the extent of UK job losses has not been as bad as expected based on the experience of the previous three recessions. But many fear that unemployment will rise further, especially as the public spending cuts take effect. For those without a job for extended periods, there is a risk of permanent 'scarring', especially for young people without prior work experience. So it is particularly timely that the 2010 Nobel prize in economics has been awarded for research that explains the process of search: how people look for work; how they are matched with job vacancies; and how various 'frictions' impede that outcome. One of the three new laureates is the first economist based in Britain to receive the accolade in over a decade: Chris Pissarides, who has been a cornerstone of life at the Centre for Economic Performance (CEP) since its foundation in 1990 and for many years led the research programme on macroeconomics, particularly unemployment. Professor Pissarides explains his work thus: 'Our research looks at what happens to someone who loses his or her job because of changes in the economic environment. We have created a model that allows us to analyse the processes and decisions, such as policy, which affect how long it is before someone finds productive employment again.' This research has immediate implications for policy-makers at a time of economic weakness: 'One of the key things we find is that it is important to make sure that people do not stay unemployed too long so they don't lose their feel for the labour force. The ways of dealing with this need not be expensive training - it could be as simple as providing work experience.' There'll be more on what the Nobel citation describes as 'analysis of markets with search frictions' in the next CentrePiece. Meanwhile, this issue examines many other current policy debates. A piece on the recent LSE report on The Future of Finance summarises its radical proposals for regulatory reform. And articles on the NHS White Paper and 'coalition academies' launch a series that will draw on CEP research to evaluate policy innovations by the new government. Elsewhere, we report studies of the impact of China's rise on Western innovation; of the impact of new technology on demand for skills; and of the impact of the euro on trade within the European Union. Perhaps the most topical for the UK is a cross-country analysis of the effectiveness of fiscal policy. As the cuts to public spending start to be implemented, the key question is what will be the ultimate effects on growth and jobs. Key Articles include: 'Does fiscal policy work?' - Ethan Ilzetzki; 'The NHS White Paper: evolution or revolution?' - Zack Cooper; 'Chinese ghosts in the Western machine' - John Van Reenen; 'Foreign takeovers of British companies' - Geoffrey Owen; 'Has the euro increased trade?' João Santos Silva and Silvana Tenreyro; '"Revolving door" lobbyists' - Jordi Blanes i Vidal, Mirko Draca and Christian Fons-Rosen To read ALL the articles please go 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
Romesh Vaitilingam, Editor. Email: romesh@vaitilingam.com News Posted: 09/11/2010 [Back to the Top] 
Harvard Business School - 'Working Knowledge'How IT shapes top-down and bottom-up decision makingInformation-based systems, such as Enterprise Resource Planning (ERP) software, will push decision-making toward the bottom of the corporate ladder. Communication systems, such as e-mail and instant messaging applications, will push the decision-making process toward the top. And that means developing an IT strategy isn't all about deploying the best technology, says Raffaella Sadun, an assistant professor of strategy at Harvard Business School. Sadun discusses the issue in "The Distinct Effects of Information Technology and Communication Technology on Firm Organization," a paper she cowrote with Nicholas Bloom of Stanford University and Luis Garicano and John Van Reenen of the Centre for Economic Performance, London School of Economics.This article appeared in Harvard Business School - 'Working Knowledge' on November 1, 2010 Link to article Related Publications 'The Distinct Effects of Information Technology and Communication Technology on Firm Organization', Nicholas Bloom, Luis Garicano, Raffaella Sadun and John Van Reenen, Centre for Economic Performance Discussion Paper No.927, May 2009. Related Links Nick Bloom webpage Luis Garicano webpage Raffaella Sadun webpage John Van Reenen webpage Productivity and Innovation Programme webpage News Posted: 01/11/2010 [Back to the Top] 
ActiveQuotePrivate medical cover customers have access to better-managed hospitals, says reportProfessor John Van Reenen, director of CEP, said: “An overriding message is that management quality varies greatly within countries, even within a publicly dominated healthcare sector like the NHS. Many of the same factors that matter in other sectors - such as competition and skills - also matter for healthcare.This article appeared in ActiveQuote on November 1, 2010 Link to article Related Publications Management in Healthcare: Why Good Practice Really Matters. Report from McKinsey & Company and the Centre for Economic Performance, October 2010 Management practices in the NHS, CentrePiece 14 (3), Winter 2010 pages 16-19, by Nick Bloom, Carol Propper, Stephan Seiler and John Van Reenen Related Links Nick Bloom webpage Rebecca Homkes webpage Raffaella Sadun webpage John Van Reenen webpage Management and Organisational Structures research webpage Productivity and Innovation Programme webpage News Posted: 01/11/2010 [Back to the Top]
PulseMcKinsey: NHS managers 'least clinically-qualified' in developed worldFewer than 60% of managers in UK hospitals were found to have a clinical degree, compared to more than 90% in Sweden, and the UK had the lowest proportion of managers with a clinical degree in all the countries surveyed. The research, by McKinsey and the Centre for Economic Performance at the London School of Economics, assessed management practices at nearly 1,200 hospitals in total.This article appeared in Pulse on October 28, 2010 Link to article Related Publications Management in Healthcare: Why Good Practice Really Matters. Report from McKinsey & Company and the Centre for Economic Performance, October 2010 Management practices in the NHS, CentrePiece 14 (3), Winter 2010 pages 16-19, by Nick Bloom, Carol Propper, Stephan Seiler and John Van Reenen Related Links Nick Bloom webpage Rebecca Homkes webpage Raffaella Sadun webpage John Van Reenen webpage Management and Organisational Structures research webpage Productivity and Innovation Programme webpage News Posted: 28/10/2010 [Back to the Top]
Healthcare EuropaPrivate sector hospitals outperform public sector in Europe and North AmericaPrivate sector hospitals perform better than public sector, according to a new report co-written by McKinsey and the Centre for Economic Performance at the LSE. Management in Healthcare: Why good practice really matters is a seven country survey based on data from 1,196 hospitals in Germany, France, the UK, Italy, Sweden, Canada and the USA. It found that across all countries the private and not for profit sectors outperformed the public. But did they really? Maddeningly, report author Prof John Van Reenen at CEP said that patients differed between the two sectors: “private patients are likely to be wealthier and have fewer complications,” he pointed out. He said the study had tried to reflect this but that there was no way to accurately compare the two groups.This article appeared in Healthcare Europa on October 27, 2010 Link to article Related Publications Management in Healthcare: Why Good Practice Really Matters. Report from McKinsey & Company and the Centre for Economic Performance, October 2010 Management practices in the NHS, CentrePiece 14 (3), Winter 2010 pages 16-19, by Nick Bloom, Carol Propper, Stephan Seiler and John Van Reenen Related Links Nick Bloom webpage Rebecca Homkes webpage Raffaella Sadun webpage John Van Reenen webpage Management and Organisational Structures research webpage Productivity and Innovation Programme webpage News Posted: 27/10/2010 [Back to the Top]
British Medical JournalUK hospitals are better managed than counterparts in Canada, France, Germany and Italy but not the US, report saysHospitals in the United Kingdom are “better managed” than their counterparts in several European countries and Canada, new research concludes. It also says that private sector organisations perform best overall across the countries. John Van Reenan, director of the LSE’s Centre for Economic Performance, said, “For the UK, having more clinically trained managers should be a priority.” Rebecca Homkes, project director for the Centre for Economic Performance, said that the study found better management scores in the private sector generally, not just in the UK.This article appeared in the British Medical Journal on October 27, 2010 Link to article Related Publications Management in Healthcare: Why Good Practice Really Matters. Report from McKinsey & Company and the Centre for Economic Performance, October 2010 Management practices in the NHS, CentrePiece 14 (3), Winter 2010 pages 16-19, by Nick Bloom, Carol Propper, Stephan Seiler and John Van Reenen Related Links Nick Bloom webpage Rebecca Homkes webpage Raffaella Sadun webpage John Van Reenen webpage Management and Organisational Structures research webpage Productivity and Innovation Programme webpage News Posted: 27/10/2010 [Back to the Top]
Indian Express.comHow to save livesFrom America to Sweden, the best hospitals in a rich country outperform the rest. But how? Stephen Dorgan of McKinsey, a consultancy, and John Van Reenen of the London School of Economics have tried to answer this. They studied almost 1,200 hospitals in America, Britain, Canada, France, Germany, Italy and Sweden, using techniques more commonly applied to identify excellence in manufacturing industry.This article appeared in Indian Express on October 27, 2010 Link to article Related publications ‘Management in Healthcare: Why Good Practice Really Matters’. Report from McKinsey & Company and the Centre for Economic Performance, October 2010. Authors: Nicholas Bloom, Rebecca Homkes, Raffaella Sadun and John Van Reenen. Management practices in the NHS, CentrePiece 14 (3), Winter 2010 pages 16-19, by Nick Bloom, Carol Propper, Stephan Seiler and John Van Reenen Related links Nicholas Bloom webpage Rebecca Homkes webpage Raffaella Sadun webpage John Van Reenen webpage Management Practices and Organisational Structures Research webpage Productivity and Innovation Programme webpage News Posted: 27/10/2010 [Back to the Top]
Health Service JournalResearch supports better management for better outcomesThere is a strong association between high quality management and patient outcomes in UK hospitals, the management consultancy McKinsey and Co have claimed. The consultancy, with the London School of Economics' Centre for Economic Performance, has compared the quality of management at 1,194 hospitals internationally, including 180 in the UK, through detailed interviews with middle-level managers.This article appeared in the Health Service Journal on October 26, 2010 Link to article Related publications ‘Management in Healthcare: Why Good Practice Really Matters’. Report from McKinsey & Company and the Centre for Economic Performance, October 2010. Authors: Nicholas Bloom, Rebecca Homkes, Raffaella Sadun and John Van Reenen. Management practices in the NHS, CentrePiece 14 (3), Winter 2010 pages 16-19, by Nick Bloom, Carol Propper, Stephan Seiler and John Van Reenen Related links Nicholas Bloom webpage Rebecca Homkes webpage Raffaella Sadun webpage John Van Reenen webpage Management Practices and Organisational Structures Research webpage Productivity and Innovation Programme webpage News Posted: 26/10/2010 [Back to the Top]
Daily FinanceNHS hospitals beat foreign rivalsUK Hospitals are better managed and have more satisfied patients than hospitals in Sweden, Germany, Canada, Italy and France, management consultants McKinsey and academics from the London School of Economics report. Only US hospitals show better management but the UK really shines when taking account of the amount spent on healthcare per head. The UK has the second lowest spend – above only Italy and spending less than half as much per head as the US. The report, Management in Healthcare: Why good practice really matters, produced two tables that show this. The first shows the management scores and the second the spend per head of population. Professor John Van Reenen, director of the Centre for Economic Performance, said: "An overriding message is that management quality varies greatly within countries, even within a publicly dominated healthcare sector like the NHS.”This article appeared in Daily Finance on October 26, 2010 Link to article Related publications ‘Management in Healthcare: Why Good Practice Really Matters’. Report from McKinsey & Company and the Centre for Economic Performance, October 2010. Authors: Nicholas Bloom, Rebecca Homkes, Raffaella Sadun and John Van Reenen. Management practices in the NHS, CentrePiece 14 (3), Winter 2010 pages 16-19, by Nick Bloom, Carol Propper, Stephan Seiler and John Van Reenen Related links Nicholas Bloom webpage Rebecca Homkes webpage Raffaella Sadun webpage John Van Reenen webpage Management Practices and Organisational Structures Research webpage Productivity and Innovation Programme webpage News Posted: 26/10/2010 [Back to the Top]
Public Finance MagazineBetter managed hospitals 'are most efficient'Researchers at the London School of Economics' Centre for Economic Performance and consultancy McKinsey & Company assessed the management practices of almost 1,200 hospitals in seven countries: the UK, US, Canada, France, Germany, Italy and Sweden.This article appeared in Public Finance on October 25, 2010 Link to article Related publications ‘Management in Healthcare: Why Good Practice Really Matters’. Report from McKinsey & Company and the Centre for Economic Performance, October 2010. Authors: Nicholas Bloom, Rebecca Homkes, Raffaella Sadun and John Van Reenen. Management practices in the NHS, CentrePiece 14 (3), Winter 2010 pages 16-19, by Nick Bloom, Carol Propper, Stephan Seiler and John Van Reenen Related links Nicholas Bloom webpage Rebecca Homkes webpage Raffaella Sadun webpage John Van Reenen webpage Management Practices and Organisational Structures Research webpage Productivity and Innovation Programme webpage News Posted: 25/10/2010 [Back to the Top] 
Press Release - New ReportManagement in Healthcare: Good management really makes a difference25th October 2010 - for immediate releaseBetter managed hospitals have significantly lower mortality rates, significantly more satisfied patients - and all at a lower cost. This is one of the principal findings of new research from McKinsey & Company and the Centre for Economic Performance (CEP) at the London School of Economics, which assesses the management practices of nearly 1,200 hospitals in seven countries: the UK, the United States, Canada, France, Germany, Italy and Sweden. The report covers healthcare management practices across three broad areas: operational processes; performance management; and talent (people) management. The report launch, Management in Healthcare: Why Good Practices Really Matter, will take place 6:00pm 26th October at The Institution of Mechanical Engineers, One Birdcage Walk, London SW1H 9JJ.
Main findings
Explaining the research findings, Dr. Stephen Dorgan, Partner at McKinsey and an author of the report, says: "We believe the results from this research provide an optimistic message: improving management practices really does make a difference. "Looking at the UK for example, a one point improvement in the management practice score - which is perfectly achievable - is related to a 6 per cent fall in the rate of deaths from heart attacks." Professor John Van Reenen, director of the Centre for Economic Performance, comments: "An overriding message is that management quality varies greatly within countries, even within a publicly dominated healthcare sector like the NHS. Many of the same factors that matter in other sectors - such as competition and skills - also matter for healthcare. "For the UK, having more clinically trained managers should be a priority." Implications of the research The findings of this and previous research by the same team point to significant opportunities for UK policy-makers, Academic Health Science Centres, commissioners, acute hospitals, investors and most importantly patients. Specifically:
Download the full press release For further information please contact John Cheetham, McKinsey & Company Email: john_cheetham@mckinsey.com Tel: +44 (0)20 7961 5294 Romesh Vaitilingam, Centre for Economic Performance, LSE Email: romesh@vaitilingam.com Tel: + 44 (0) 7768 661095 News Posted: 25/10/2010 [Back to the Top] 
The ObserverWayne Rooney symbolises the greed that laid us lowLast week, as [Wayne] Rooney demanded a salary of £10.4m, the City prepared to gorge itself on a bonus pot of £7bn. "If you had just come back from a couple of years on a desert island you could be forgiven for thinking that the crash had not happened," Brian Bell, an authority on Britain's extreme wealth inequality from the London School of Economics, told me. He added, somewhat unnecessarily, that the failure to learn the lessons of the past makes a future crash more likely.This article appeared in The Observer on October 24, 2010 Link to article Related Links Brian Bell webpage Productivity and Innovation Programme webpage News Posted: 24/10/2010 [Back to the Top]
The EconomistHow to save livesSteven Morgan of McKinsey and John Van Reenen of LSE have studied 1,200 hospitals to see which are the best managed and the practices that common to the best. They found five characteristics shared by well-run hospitals, including competition.This article appeared in The Economist on October 22, 2010 Link to article Related publications ‘Management in Healthcare: Why Good Practice Really Matters’. Report from McKinsey & Company and the Centre for Economic Performance, October 2010. Authors: Nicholas Bloom, Rebecca Homkes, Raffaella Sadun and John Van Reenen. Management practices in the NHS, CentrePiece 14 (3), Winter 2010 pages 16-19, by Nick Bloom, Carol Propper, Stephan Seiler and John Van Reenen Related links Nicholas Bloom webpage Rebecca Homkes webpage Raffaella Sadun webpage John Van Reenen webpage Management Practices and Organisational Structures Research webpage Productivity and Innovation Programme webpage News Posted: 22/10/2010 [Back to the Top] 
The EconomistA special report on the world economy: Pass and move - Spain offers a test-case for labour-market reform in EuropeHow effective these new rules will be depends on how they are interpreted. “It could take years to clarify under what circumstances firms can fire workers and pay only 20 days’ compensation,” says Luis Garicano, of the London School of Economics.This article appeared in the Economist on October 7, 2010 Link to article Related Links Luis Garicano webpage Productivity and Innovation Programme webpage News Posted: 07/10/2010 [Back to the Top]
Financial TimesRecovery elusive but darkest days have passedA suggestion that Spain's banking system still has a way to go before institutions can once again begin raising money on the wholesale finance markets to shore up their short-term liquidity. LSE professor Luis Garicano says: "An immediate, default-type crisis is probably no longer on the cards."This article appeared in the Financial Times Online on October 6, 2010 Link to article Related Links Luis Garicano webpage Productivity and Innovation Programme webpage News Posted: 06/10/2010 [Back to the Top] 
The GuardianPoor students will be priced out by high tuition fees, warns charityTop universities could raise their fees five-fold if ministers give them free rein, says Sutton TrustTop universities will price out poor students with a five-fold hike to tuition fees if ministers give them free rein over what they charge, an influential education charity warns today. The Sutton Trust study analysed how much 20 universities charge undergraduates from outside the European Union, and how much they charge postgraduates from all countries. Universities are allowed to charge whatever they like to these two groups, so a free market already exists. The researchers, from the Centre for Economic Performance at the London School of Economics, found that the most prestigious institutions charge twice as much as lower-ranked universities. This article appeared in The Guardian, on October 4, 2010 News Posted: 04/10/2010 [Back to the Top] 
Hurriyet Daily News (Turkey)Top economist voices concern about second global dipThere is a high possibility that a second economic dip in the U.S. economy could occur, triggering a “snowball effect” throughout the rest of the world, according to a prominent London-based economist. “If someone had asked me about the direction of the economy eight months ago, I would have said the risk had receded,” John Van Reenen, the director of the London-based Centre for Economic Performance, an applied economics research center, recently told the Hürriyet Daily News & Economic Review. “But now, looking at recent data, I am much concerned that we may have a second dip and go back to a recession again.”This article appeared in Hurriyet Daily News (Turkey) on September 20, 2010 Link to article Related Links John Van Reenen webpage John Van Reenen publications webpage Productivity and Innovation Programme webpage News Posted: 20/09/2010 [Back to the Top] 
CEP ResearchRecent Academic Study Confirms Passing Through the Revolving Door Pays OffA recent study from the Center for Economic Performance at the London School of Economics finds a significant relationship between lobbyists' salaries and their political connections on Capitol Hill.Using data from the Center for Responsive Politics, LegiStorm.com and Lobbyists.info, researchers Jordi Blanes i Vidal, Mirko Draca and Christian Fons-Rosen analyzed the employment histories and salaries of 1,100 ex-Congressional staffers turned federal lobbyists. Their study concluded that these lobbyists experienced a sizable drop in earnings when their old bosses left Congress. Overall, the researchers found that lobbyists' earnings dropped by 24 percent upon the departure of one of their former employers in either the Senate or a senior position within the House. This decline represents about $177,000 per year for the lobbyist's overall "practice" at a firm -- and the decrease in revenue persists for at least three years after the politician's exit, they observed. "When a politician leaves, a lobbyist's connection to that politician becomes obsolete," said study co-author Draca. "The politician is no longer a potential target for lobbying." Measuring the significance of the revolving door between K Street and Capitol Hill is a difficult task. The study's attempt to measure it by examining earnings is the first of its kind. "There is plenty of discussion of the idea that former staffers are able to 'cash in' on the connections that they gained from working in Congress," Draca said. "But formal evidence on what these connections are worth in dollar terms is thin on the ground." "Lobbyists argue that their earnings reflect expertise on policy issues generally", co-author Blanes i Vidal continued, "Our study tests whether former congressional staffers would be high-earners regardless of their privileged access to a powerful politician." With their analysis showing a correlation between salaries and political connections, the authors beg to differ with the assessment that lobbyists bring only skills to the table when earning hundreds of thousands of dollars. "Our estimates can be interpreted as the price of accessing or influencing politicians," Blanes i Vidal said. "Access or influence can be systematically bought and sold. This means that if you have the money, you can hire a lobbyist with political connections and improve your chances of affecting policy." For more information, please email Jordi Blanes i Vidal at j.blanes-i-vidal@lse.ac.uk or Mirko Draca at m.draca@lse.ac.uk  Watch Washington's Revolving Door on You Tube.
Related publications: CEP Discussion Paper 993: Revolving Door Lobbyists by Jordi Blanes i Vidal, Mirko Draca, Christian Fons-Rosen, August 2010. News Posted: 17/09/2010 [Back to the Top] 
The Wall Street JournalZombie buildings shadow Spain's Economic futureOne risk, says Luis Garicano, an economist at the London School of Economics, is that Spanish lenders could follow in the footsteps of Japan's so-called zombie banks, "holding on to capital in order to cover their losses."This article appeared in The Wall Street Journal on September 16, 2010 Link to article Related Links Luis Garicano webpage Productivity and Innovation Programme webpage News Posted: 16/09/2010 [Back to the Top] 
BBC News - BusinessAre executives worth their huge pay packets?Over the last decade or so, the biggest source of the growth of high pay and wider inequality has been bonuses, according to some recent research. And those who have benefited have been "the people [already] within the top 10%, and then even within that group the top 5% and the top 1%" of the income scale, according to Brian Bell, a Research Fellow at the London School of Economics' Centre for Economic Performance. Most of them are based in London where they work in the financial sector, have… essentially run away from the rest of the workers."This article appeared on the BBC online on September 15, 2010 Link to article Related Publications ‘Bankers' Pay and Extreme Wage Inequality in the UK’, Brian Bell and John Van Reenen, Centre for Economic Performance Special Paper No.21, April 2010 ‘Bankers’ Bonuses’, Brian Bell, Centre for Economic Performance Election Analysis, April 2010 Related Links Brian Bell webpage Productivity and Innovation Programme webpage News Posted: 15/09/2010 [Back to the Top]
Manchester WiredAre executives worth their huge pay packets?Over the last decade or so, the biggest source of the growth of high pay and wider inequality has been bonuses, according to some recent research. And those who have benefited have been "the people [already] within the top 10%, and then even within that group the top 5% and the top 1%" of the income scale, according to Brian Bell, a Research Fellow at the London School of Economics' Centre for Economic Performance. Most of them are based in London where they work in the financial sector, have… essentially run away from the rest of the workers."This article appeared in Manchester Wired on September 15, 2010 Link to article Related Publications ‘Bankers' Pay and Extreme Wage Inequality in the UK’, Brian Bell and John Van Reenen, Centre for Economic Performance Special Paper No.21, April 2010 ‘Bankers’ Bonuses’, Brian Bell, Centre for Economic Performance Election Analysis, April 2010 Related Links Brian Bell webpage Productivity and Innovation Programme webpage News Posted: 15/09/2010 [Back to the Top] 
GlobalResearch.caEconomic fault lines deepenIn a recent New York Times article entitled, “In Ireland, Dangers Still Loom”, authors Simon Johnson and Peter Boone warn of the consequences of the type of austerity programs being introduced across Europe—especially for those countries forced to pay off a growing burden of debt. They note that the finance markets remain unimpressed by the measures taken by the Irish government, which have sharply cut public sector wages and driven up unemployment to record levels.This article appeared in GlobalResearch.ca on September 11. 2010 Link to article Related Links Peter Boone webpage Peter Boone publications webpage Effective Intervention Programme webpage News Posted: 11/09/2010 [Back to the Top] 
Seeking AlphaCanadian taxpayers on the hook as housing cools“With such ready access to taxpayer bailouts, Canadian banks need little capital. They naturally make large profit margins, and they can raise money even if they act badly,” write Peter Boone and Simon Johnson in an article titled ‘The Canadian Banking Fallacy.’This article appeared in Seeking Alpha on September 4, 2010 Link to article Related Links Peter Boone webpage Peter Boone publications webpage Effective Intervention Programme webpage News Posted: 06/09/2010 [Back to the Top] 
The State of Apprenticeship in 2010International Comparisons - Australia, Austria, England, France, Germany, Ireland, Sweden, Switzerland. A Report for the Apprenticeship Ambassadors Network.Forward by Sir Roy Gardner (Chairman, Compass Group plc; Chairman, Apprenticeship Ambassadors Network) August 2010:I am pleased to commend this report, commissioned by the Apprenticeship Ambassadors Network, of which I am Chairman. The Network is a group of senior business leaders committed to the expansion and development of Apprenticeships. In an earlier report 'The Net Benefit to Employer Investment in Apprenticeship Training' (University of Warwick Institute for Employment Research, 2008) we set out the business case for Apprenticeships. That proved to be an effective medium for communicating the real and tangible benefits to employers. This time we wanted to draw comparisons on the planning and delivery of Apprenticeships in a number of other countries, with a particular focus on employer participation and involvement. Apprenticeships in this country are amongst the world’s best, but we cannot be complacent and we need to know what is happening in competitor countries and what lessons can be learnt I was re-assured in the recent general election that all the main political parties signalled their support for the expansion of Apprenticeships. I am grateful to Hilary Steedman for producing this report which I am sure will be of interest to employers and employer organisations, Government and policy makers, training organisations, trade unions, awarding bodies, academics in the vocational training field and others. We will continue to argue the case with employers for greater involvement in Apprenticeships - they are good for young people, companies and the economy in general. Download The State of Apprenticeship in 2010: International Comparisons Australia, Austria, England, France, Germany, Ireland, Sweden, Switzerland. A Report for the Apprenticeship Ambassadors Network by Hilary Steedman - CEP Special Report 22 News Posted: 06/09/2010 [Back to the Top] 
Public FinanceRecession risk heightened by spending cuts, says economistsJohn Van Reenen, director of Centre for Economic Performance at the London School of Economics, told Public Finance the government should reconsider its fiscal policy in the light of the new figures. ‘The planned spending cuts are draconian, so would play a part in the revision,’ he said. ‘When you think about the fragility of the economy, there’s a serious risk of going into a double-dip recession, and those risks seem to have increased.’This article appeared in Public Finance magazine on August 12, 2010 Link to article Related Links John Van Reenen webpage Productivity and Innovation Programme webpage John Van Reenen publications webpage News Posted: 12/08/2010 [Back to the Top] 
CEP Policy AnalysisReducing Crime: More Police, More Prisons or More Pay?Crime is usually high on the list of voter concerns. This might seem surprising since total crime has fallen significantly since the mid 1990s. Yet two thirds of the population still (wrongly) think that crime is rising nationally.Politicians must take account of the public's false perception of increasing levels of crime, which seems to be sustained even in years when both recorded crime and victimisation surveys point to reductions in overall crime.This CEP Policy Analysis describes crime trends and research evidence relevant to the post election policies. The publication is summarised below and can be found in full on the CEP Policy Analysis Site For further information, contact Romesh Vaitilingam on 07768 661095 (Email: romesh@vaitilingam.com) Reducing Crime: More Police, More Prisons or More Pay?
News Posted: 28/07/2010 [Back to the Top] 
Leading Economists Storm The Bastille Of High FinanceThe Future of Finance: and the theory that underpins itOn July 14th, Bastille Day, twelve leading economists present their opinions of what is wrong with the world's financial system - and how it should be radically reformed. They have been meeting at the London School of Economics (LSE) each month for a year, and a new book published today - The Future of Finance: The LSE Report - draws together the various strands of their debate.The Future of Finance: The LSE Report Published on August 16th at £14.99 in paperback Order a printed copy of the book Go to CEP Books web page A key theme is that the scale of financial asset creation has been grossly excessive and far beyond the needs of the real economy - which is the ultimate touchstone of a healthy financial system. The book includes new analyses of how finance affects the real economy, as well as, in some cases, radical reform proposals aimed not only at governments, but also at the giant funds that invest our wealth. The authors are all major figures in national policy or national debate:
Adair Turner's contribution argues that 'There is no clear evidence that the growth in the scale and complexity of the financial system in the rich developed world over the last 20 to 30 years has driven increased growth or stability', and identifies the most crucial problem as volatile credit supply and pricing arising from the interaction of banks, financial markets and real estate finance. His analysis defines the issues to which he and the other authors propose solutions. The full list of authors and titles is attached. The titles demonstrate the breadth and depth of the study. The group was convened at LSE by the Paul Woolley Centre for the Study of Capital Market Dysfunctionality and by the Centre for Economic Performance (CEP). At the Conference, the keynote address will be by Vince Cable, Secretary of State for Business, Innovation and Skills. The Conference will be held at on Wednesday 14 July 2010 (9.00 - 17.45) at Institute of Engineering and Technology, 2 Savoy Place, London WC2R 0BL [See Map] The book launched at the Conference is ‘The Future of Finance: And the theory that underpins it' by Adair Turner and others. Available online from July 14th at http://www.futureoffinance.org.uk and available to press on request from now on. Contact: H.Ogborn@lse.ac.uk for an electronic version. Tel: 020 7955 7048 For further information, contact Romesh Vaitilingam, Email: romesh@vaitilingam.com Tel: 07768 661095 News Posted: 14/07/2010 [Back to the Top] 
Press ReleaseTop Health Economists Comment On The NHS White PaperIn a series of recent studies, health economists at the Centre for Economic Performance (CEP) have demonstrated that the introduction of patient choice and hospital competition into the NHS from 2006 onwards has improved quality, improved efficiency and saved lives (see Cooper et al. 2010a; Cooper et al. 2010b and Bloom et al. 2010).They draw on this body of work to comment on the White Paper. CEP researcher Zack Cooper says: 'We know that hospital competition has improved the performance of the health service. The new White Paper encourages competition, encourages transparency and claims to reduce bureaucracy. That's all reasonable, but are most GPs up to the task of purchasing care for their patients? Will GPs really be onboard with the idea of encouraging competition? Those are the real questions we need to focus on. 'In the abstract, these reforms sound sensible. Every White Paper is heralded as "the biggest structural change to the NHS since 1948". In practice, these reforms seem to promote the Blair legacy of choice and competition, which have thus far proved effective. The challenge is translating these abstract proposals into workable policies.' The researchers note that the challenge for the new government in healthcare is to continue to introduce smart financial incentives across the NHS and to encourage transparency and competition on clinical performance. They find some encouraging elements in the White Paper. The push to publish more information on hospital quality is vital to improving the health service. The health service needs clear measures of quality that benchmark how providers perform and allow individuals to make informed choices. In addition, giving patients a choice over their GP should have a positive impact on care. GPs serve a central role in the health service and expanding choice of GPs will allow individuals to find a provider they can be comfortable with and encourage GPs to continue to improve their performance. It is also encouraging that the government plans to allow more flexible wages. Recent CEP research shows that this could be an effective strategy to reduce chronically high death rates in London and the South East (Propper et al, 2010). There is a risk, however, that the reforms will introduce turbulence into the health service. Ultimately, will pushing decision-making away from Primary Care Trusts and towards GPs really increase competition and flexibility of the NHS? This has the potential to be disruptive organisational change of the kind that the Conservatives promised to avoid when they were in opposition. Such shake-ups typically cost substantial medical time and money - something that will be in short supply over the next few years. Professor John Van Reenen, director of CEP concludes: 'Moves towards competition are a way of driving up performance and improving patient outcomes in the NHS - just as they are in other parts of our economy. The real question is whether these proposed NHS reforms will really increase effective competition and improve standards or, in fact, accomplish quite the opposite.' There are also legitimate concerns about whether or not GPs are up to the task of negotiating with hospitals. "One of the reasons for moving away from GP Fundholding in the 1990s was the capacity individual GPs had in bargaining with hospitals. Will it really be any different this time around?" said Van Reenen. Further Reading
News Posted: 13/07/2010 [Back to the Top] 
Schools Interested In Academy Status Very Different From Existing AcademiesNew findings from CEP Policy Analysis.A new policy briefing by Professor Stephen Machin and James Vernoit of the Centre for Economic Performance (CEP) describes the contrasting characteristics of existing Academy schools and schools that have recently expressed an interest in Academy status. The report, A Note on Academy School Policy, published today, finds that:
For further information, contact co-author James Vernoit on 07877 221014 (J.Vernoit@lse.ac.uk); Romesh Vaitilingam on 07768 661095 Romesh@vaitilingam.com; or Helen Durrant on 020 7955 7395 h.durrant@lse.ac.uk. News Posted: 12/07/2010 [Back to the Top] 
Centre for Economic Performance Press ReleaseCompetition makes NHS hospitals more efficientCompetition in the English NHS improves hospital efficiency and can save the health service significant amounts of money, according to a new study by researchers at the London School of Economics (LSE).The study finds that hospitals located in areas where patients have a great deal of choice improve their efficiency more quickly than hospitals located in less competitive markets. What’s more, the hospitals in competitive markets are able to improve efficiency and save money without any negative impact on patient outcomes. These findings suggest that as the NHS faces significant pressure to slow spending, patient choice and hospital competition can be a powerful tool to save money. One of the study’s authors, Zack Cooper, says: ‘Competition creates very clear incentives for hospitals to become more efficient. ‘As George Osborne prepares the country for a period of financial austerity, this research helps illustrate how policy-makers get more value for money from the health service instead of having to ration care for cancer, increase waiting times or cut hospital staff.’ The study, which is published today by the Centre for Economic Performance at LSE, was carried out by Zack Cooper, Stephen Gibbons, Simon Jones and Alistair McGuire. Analysing NHS data for the period from 2001 to 2008, the research team measured efficiency as a patient's length of stay in the hospital, breaking that down into its two key components – the time from the patient's admission until their surgery and then the time from surgery until discharge. They find that hospitals facing heavier competition cut down on the length of stay prior to elective surgery without shortening post-surgery length of stay or having higher readmission rates or higher mortality. Improving efficiency in this way without compromising patient care saved hospitals significant resources. These findings confirm previous work by Cooper and his colleagues, which found that competition prompted hospitals to improve their quality. It also echoes a recent OECD report, which suggests that the best way for the NHS to become more efficient is for the health service to embrace more fully patient choice and hospital competition. Zack Cooper comments: ‘Going forward, the NHS is going to face significant pressure to slow health care spending. Unfortunately, there are only two ways to slow how much we spend on health care: we can either cut services or become more efficient. ‘Clearly, we’d rather see hospitals becoming more efficient instead of cutting services that patients value. Our research suggests that this can happen through greater patient choice and hospital competition’ Press release on June 30, 2010 Related Publications Does Hospital Competition Improve Efficiency? by Zack Cooper (LSE Health), Stephen Gibbons (Department of Geography and Environment and the Centre for Economic Performance, LSE), Simon Jones (LSE Health), and Alistair McGuire (LSE Health and the Department of Social Policy, is available as Centre for Economic Performance Discussion Paper No.988, June 2010. Related Links Zack Cooper webpage Productivity and Innovation Programme webpage News Posted: 30/06/2010 [Back to the Top] 
British Politics and Policy at the LSE- BlogExtreme Austerity is the wrong medicineIncreasing numbers of liberal economists are gravely worried that the UK has made a wrong turn in choosing an austerity budget. Professor John Van Reenen, Director of the LSE's Centre for Economic Performance, explains why the budget measures fulfil only a political logic, and risk creating a double-dip recession.Read the full article about austerity and budget stabilization, direct from the LSE Blog on British Politics and Policy News Posted: 28/06/2010 [Back to the Top]
Management TodayNew economics: making forecasts after the recessionLast year, Queen Elizabeth went to the London School of Economics to try and understand what had taken so much wealth out of her Commonwealth. 'Why did nobody predict it?' the monarch asked the hapless host, professor Luis Garicano.This article appeared in Management Today on June 1, 2010 Link to article Related Links Luis Garicano webpage Productivity and Innovation Programme webpage News Posted: 01/06/2010 [Back to the Top]
Poten and PartnersCan wage regulation be deadly?On average, a 10 percent increase in the private sector wages is associated with a 7 percent increase in heart attack death say Carol Propper of the University of Bristol and John Van Reenen of the Centre for Economic Performance at the London School of Economics.This article appeared in Poten & Partners on May 30, 2010 Link to article Related Publications Can Pay Regulation Kill? Panel Data Evidence on the Effect of Labor Markets on Hospital Performance, Carol Propper and John Van Reenen, Journal of Political Economy, Vol.118, No.2, April 2010. Related Links John Van Reenen webpage Productivity and Innovation Programme webpage News Posted: 30/05/2010 [Back to the Top] 
CIOFamilienunternehmen sind FlopsFamilienunternehmen sind die besten Firmen überhaupt? Und wenn die Rahmenbedingungen eines Landes nicht stimmen, scheitert selbst der erfolgreichste Manager? Diese beiden Glaubenssätze haven Wirtschaftsprofessor Nicholas Bloom (Stanford University, Kalifornien) und Forscher John Van Reenen (Centre for Economic Policy [sic], London) widerlegt. Im Journal of Economic Perspectives documentieren sie eine weltweite Studie, die den Einfluss von Management Practices auf den Unternehmenserfolg thematisiert.This article appeared in the CIO on 27 May, 2010 Link to article. Related Publications Why Do Management Practices Differ Across Firms and Countries?, Nicholas Bloom and John Van Reenen, Journal of Economic Perspectives, Vol. 24, No. 1, Winter 2010 'Measuring and Explaining Management Practices Across Firms and Countries', Nick Bloom and John Van Reenen, Centre for Economic Performance Discussion Paper No. 716, March 2006 Related Links Nicholas Bloom webpage John Van Reenen webpage Productivity and Innovation Programme webpage Management Practices and Organisational Structures Research webpage News Posted: 27/05/2010 [Back to the Top] 
CEP Election AnalysisThe complete Series, discussing research on some of the key policy battlegrounds of the 2010 General ElectionThe 2010 General Election is shaping up to be the closest in living memory with a three-horse race between the main parties. It is also an extremely important election as there are tremendous economic problems facing the UK, and the victors of the election will face a series of major challenges as the economy tries to climb out of the deepest recession since the war.At this critical juncture, it is important to give UK voters the hard information based on rigorous economic analysis that they need to make a reasoned decision on whom to vote for. There is a surfeit of spin from the parties, lobbyists, newspapers and pressure groups with axes to grind and agendas to push. At the Centre for Economic Performance (CEP), we want to give, to the best of our ability an informed and balanced view of the evidence on the major issues facing the electorate. The CEP has no 'corporate view' and each of the 11 election analyses expresses the independent views of the authors. The mission of the CEP since it was established two decades ago has been to conduct world-class and policy-relevant research. We have drawn on our work and on the best of other research to identify and carefully interpret the facts. We do not ask you to vote for any particular party, but we would urge you to vote; and to vote wisely considering some of the research evidence we present here. 
Dedicated readers are encouraged to follow the references at the end with even more information regularly updated from the CEP Election Analysis Site You may also download CEP Election Analysis 2010 - The complete Series, discussing research on some of the key policy battlegrounds of the 2010 General Election (in Adobe PDF) For further information, contact Romesh Vaitilingam on 07768 661095 (Email: romesh@vaitilingam.com). The following summary draws out some key facts across all the election analyses. Summary of Election Analyses
News Posted: 04/05/2010 [Back to the Top] 
CEP Election AnalysisClimate Change: Consensus on the long-run targets - but will we get policies that deliver?There is a great deal of overlap between the parties' proposals on climate change policy. The 2008 Climate Change Bill, which was backed by the opposition parties, has created a sensible overarching framework for climate change policy-making. But according to the latest Election Analysis from the Centre for Economic Performance (CEP), this framework must now be filled with more detailed policy measures that can induce change.The publication is summarised below and can be found in full on the CEP Election Analysis Site For further information, contact Romesh Vaitilingam on 07768 661095 (Email: romesh@vaitilingam.com) or Ralf Martin (Email: r.martin@lse.ac.uk). Climate Change: Consensus on the long-run targets - but will we get policies that deliver?
News Posted: 29/04/2010 [Back to the Top] 
CEP Election AnalysisInequality: Still Higher, But Labour's Policies Kept it DownOverall wage and income inequality rose slightly under the Labour government since 1997. This was driven by the top half (especially the top 10 per cent) of the income distribution.There was no change in inequality (and even falls on some measures) for those in the bottom half of the distribution. These are the key findings of the latest Election Analysis from the Centre for Economic Performance (CEP). Authors Professors Stephen Machin and John Van Reenen note that the increase in wage inequality is an international phenomenon driven by increases in the demand for more skilled workers. There is relatively little that any government can do about this in the long term: the best policy is to keep improving the skills of the workforce through education and training. The tax and benefit policies of the Labour government have meant that inequality is considerably lower than it would have been under the previous Conservative administration, especially for those in the bottom 20 per cent. But since the inequality 'escalator' of pre-tax earnings has been moving upwards, the policies have at best kept inequality stable rather than significantly reducing it. The publication is summarised below and can be found in full on the CEP Election Analysis Site For further information, contact Romesh Vaitilingam on 07768 661095 (Email: romesh@vaitilingam.com) or Stephen Machin (Email: s.j.machin@lse.ac.uk) or John Van Reenen (Email: j.vanreenen@lse.ac.uk). Inequality: Still Higher, But Labour's Policies Kept it Down
. News Posted: 27/04/2010 [Back to the Top] 
CEP Election AnalysisUrban Renewal and Regional Growth: Muddled Objectives and Mixed ProgressSince 1997, the Labour government has spent considerable sums trying to narrow the gap between poor areas - neighbourhoods, cities and regions - and the rest. The latest CEP Election Analysis from the Centre for Economic Performance (CEP) considers the evidence on the effects of some of these policy initiatives, with a focus on the role of 'area-based initiatives', which try to improve outcomes in particular areas.According to author Professor Henry Overman, the evidence suggests that progress against objectives has been mixed. This is unsurprising: the economic processes that drive differences across cities and regions of the UK are poorly understood and what evidence we do have has played little part in the formulation of policy. As a result, there is confusion about what urban and regional policy could and should try to achieve - and the parties' positions tend to be based on belief rather than evidence. The publication is summarised below and can be found in full on the CEP Election Analysis Site For further information, contact Romesh Vaitilingam on 07768 661095 (Email: romesh@vaitilingam.com) or Henry Overman (Email: h.g.overman@lse.ac.uk). Urban Renewal and Regional Growth: Muddled Objectives and Mixed Progress
News Posted: 26/04/2010 [Back to the Top] 
CEP Election AnalysisJobs and Youth Unemployment: It's bad, but not as bad as you might thinkThe UK's rate of unemployment has just hit 8 per cent and the number of people unemployed has risen to 2.5 million. According to researchers at the Centre for Economic Performance (CEP), while these figures are bad, they are not as bad as might be expected given the large fall in output in the current recession, the worst decline of any other post-war recession.Young people, however, have fared much worse than other groups with larger increases in their unemployment and bigger falls in hours and wages than for adults. The CEP researchers argue that, unfortunately, this is to be expected as young people always suffer worst during downturns. It does not seem that (relatively) they are doing particularly badly in the latest recession compared with the 1980s and 1990s recessions. More worrying, however, is that the fact that youth unemployment and numbers of NEETs (young people 'not in employment, education or training') were bad going into the recession, having been rising since 2004. The latest CEP Election Analysis provides more detail on the research evidence on jobs and youth unemployment - and the potential policy responses. The publication is summarised below and can be found in full on the CEP Election Analysis Site For further information, contact Romesh Vaitilingam on 07768 661095 (Email: romesh@vaitilingam.com). Jobs and Youth Unemployment: It's bad, but not as bad as you might think
News Posted: 21/04/2010 [Back to the Top] 
CEP Election AnalysisFinancial Regulation: Can We Avoid Another Great Recession?The latest CEP Election Analysis gives an overview of the research evidence on financial regulation, one of the key battlegrounds of the 2010 General Election.The publication is summarised below and can be found in full on the CEP Election Analysis Site For further information, contact Romesh Vaitilingam on 07768 661095 (Email: romesh@vaitilingam.com). Financial Regulation: Can We Avoid Another Great Recession?
News Posted: 19/04/2010 [Back to the Top] 
CEP Election AnalysisBankers' BonusesThe latest CEP Election Analysis gives an overview of bankers' bonuses and extreme wage inequality, one of the key battlegrounds of the 2010 General Election.The publication is summarised below and can be found in full on the CEP Election Analysis Site For further information, contact Romesh Vaitilingam on 07768 661095 (Email: romesh@vaitilingam.com). Bankers' Bonuses
For further information about Banker's Bonuses please read CEP Special Paper 21: Bankers' Pay and Extreme Wage Inequality in the UK News Posted: 19/04/2010 [Back to the Top] 
CEP Election AnalysisHealth: Higher Spending has Improved Quality, But Productivity Must IncreaseThe latest CEP Election Analysis, published jointly with LSE Health, gives an overview of the research evidence on UK healthcare, one of the key battlegrounds of the 2010 General Election.The publication is summarised below and can be found in full on the CEP Election Analysis Site For further information, contact Romesh Vaitilingam on 07768 661095 (Email: romesh@vaitilingam.com) . Health: Higher Spending has Improved Quality, But Productivity Must Increase
News Posted: 14/04/2010 [Back to the Top] 
CEP Election AnalysisEvaluating Education Policies: The Evidence from Economic ResearchThe latest CEP Election Analysis gives an overview of the research evidence on education policy, one of the key battlegrounds of the 2010 General Election.The publication is summarised below and can be found in full on the CEP Election Analysis Site For further information, contact Romesh Vaitilingam on 07768 661095 (Email: romesh@vaitilingam.com) or education election analysis author Sandra McNally (Email: s.mcnally1@lse.ac.uk). Evaluating Education Policies: The Evidence from Economic Research
News Posted: 13/04/2010 [Back to the Top] 
CEP Election Analysis - UpdateReducing Crime: More Police, More Prisons or More Pay?Crime is usually high on the list of voter concerns. This might seem surprising since total crime has fallen significantly since the mid 1990s. Yet two thirds of the population still (wrongly) think that crime is rising nationally.Politicians must take account of the public's false perception of increasing levels of crime, which seems to be sustained even in years when both recorded crime and victimisation surveys point to reductions in overall crime.This updated CEP Election Analysis describes crime trends and research evidence relevant to the post election policies. The publication is summarised below and can be found in full on the CEP Election Analysis Site For further information, contact Romesh Vaitilingam on 07768 661095 (Email: romesh@vaitilingam.com) Reducing Crime: More Police, More Prisons or More Pay?
News Posted: 08/04/2010 [Back to the Top] 
CEP Election AnalysisImmigration and the UK Labour Market:The Evidence from Economic ResearchA new series of Election Analyses is launched today by the Centre for Economic Performance (CEP). The series will discuss the research evidence on some of the key policy battlegrounds of the 2010 General Election, including macroeconomic policy, immigration, health, education, crime, poverty and inequality, labour market policy, regional policy, energy and the environment, financial regulation and bankers' bonuses, and foreign aid.The first CEP Election Analysis examines the research evidence on immigration and the UK labour market. The publication is summarised below and can be found in full on the CEP Election Analysis Site For further information, contact Romesh Vaitilingam on 07768 661095 (Email: romesh@vaitilingam.com) Immigration and the UK Labour Market:The Evidence from Economic Research
News Posted: 01/04/2010 [Back to the Top] 
Healthcare RepublicRate your PCT: Are NHS markets ruining relations?... the evidence that market reforms have improved healthcare in England is mixed. Competitive areas A study from the London School of Economics showed fewer 30-day deaths from acute MI in more competitive areas and concluded that 'NHS market-based reforms.This article appeared in Healthcare Republic on 18th march 2010. Link to article Related publications ‘Management Practices in the NHS’ by John Van Reenen, Nick Bloom, Carol Propper and Stephan Seiler, article in CentrePiece Vol 14 Issue 3 Winter 2009/2010 Related links John Van Reenen webpage Nick Bloom webpage Stephan Seiler webpage Productivity and Innovation Programme webpage News Posted: 18/03/2010 [Back to the Top]
Public Finance MagazineBetter managed NHS trusts have better medical resultsHospitals with stronger management have better clinical results, according to a London School of Economics study. The LSE’s Centre for Economic Performance found that management was better where more senior staff had clinical backgrounds.This article appeared in Public Finance Magazine on 15th March 2010. Link to article Related publications ‘Management Practices in the NHS’ by John Van Reenen, Nick Bloom, Carol Propper and Stephan Seiler, article in CentrePiece Vol 14 Issue 3 Winter 2009/2010 Related links John Van Reenen webpage Carol Propper webpage Nick Bloom webpage Stephan Seiler webpage Productivity and Innovation Programme webpage News Posted: 15/03/2010 [Back to the Top] 
Department Of Economics Public Debate - Thursday 4 March 2010Men of Letters: What Should Be Done About the UK Budget Deficit?Speakers: Professor Tim Besley, Professor Alan ManningDate: Thursday 4 March 2010 Time: 6.30pm -8.00pm Venue: Sheikh Zayed Theatre, New Academic Building The UK government has a massive budget deficit at the moment. What should be done about this, now and in the future? In recent weeks economists have entered the debate and a number, including economists from the LSE economics department, have signed letters to the press expressing their views. These letters have become part of a heated political discussion ahead of the election. This debate - between signatories of two of those letters – aims to explore the scope for common ground in this debate in an effort to spread light not heat. Tim Besley is Kuwait professor of economics and political science at the London School of Economics, and served on the Bank of England's Monetary Policy Committee from September 2006 until August 2009. He is director of the Suntory Toyota International Centres for Economics and Related Disciplines (STICERD) at LSE. Alan Manning is head of the department of economics and professor of economics at the London School of Economics. This event is free and open to all with no ticket required. Entry is on a first come, first served basis. For more information, email events@lse.ac.uk or call 020 7955 6043. Media queries: please contact the Press Office if you would like to reserve a press seat or have a media query about this event, email pressoffice@lse.ac.uk News Posted: 26/02/2010 [Back to the Top]
Public FinanceBetter managed NHS trusts 'have better medical results'Hospitals with stronger management have better clinical results, according to a London School of Economics study. The LSE’s Centre for Economic Performance found that management was better where more ...This article appeared in Public Finance on 18th February 2010 Link to article Related publications 'Management Practices in the NHS’ by John Van Reenen, Nick Bloom, Carol Propper and Stephan Seiler, article in CentrePiece Vol 14 Issue 3 Winter 2009/2010 The research on management in manufacturing was detailed first in CEP Discussion Paper No. 716, March 2006 This paper has been published as: ‘Measuring and Explaining Management Practices across Firms and Countries’ by Nick Bloom and John Van Reenen, Quarterly Journal of Economics 122(4): 1351-1408 More recent work is in the latest issue of the Journal of Economic Perspectives Related links John Van Reenen webpage Nick Bloom webpage Stephan Seiler webpage Productivity and Innovation Programme webpage News Posted: 18/02/2010 [Back to the Top] 
Report LaunchAn Anatomy of Economic Inequality in the UK - Report of the National Equality Panel'An Anatomy of Economic Inequality in the UK' - the Report of the National Equality Panel - was launched on Wednesday 27 January 2010.The independent National Equality Panel was set up at the invitation of the Government in 2008 to investigate the relationships between the distributions of various kinds of economic outcome on the one hand and people's characteristics and circumstances on the other. The report addresses questions such as how far up or down do people from different backgrounds typically come in the distributions of earnings, income or wealth. Professor Steve Machin, one of the panel members writes: 'The National Equality Panel Report is a pathbreaking report that accumulates and interprets a sizeable body of empirical evidence, painting a picture of key aspects of economic and social inequality over time in the UK. A lot of hard work has gone into this comprehensive review of inequality. In my experience, this kind of attention to detail is rarely delivered. The NEP Report however, offers the kind of evidence base that policymakers from all political parties really need in order to make progress in formulating coherent policies - policies to tackle the negative effects that increased inequality has caused.' Related links:
News Posted: 27/01/2010 [Back to the Top] |
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