Publications

CEP discussion paper

Neoclassical growth in an interdependent world

We generalize the closed-economy neoclassical growth model (CNGM) to allow for costly goods trade and capital flows with imperfect substitutability between countries. We develop a tractable, multi-country, quantitative m...Read more...

Blog

LSE Business Review:

How to end Britain's stagnation

Ending Stagnation, the final report of the Economy 2030 inquiry, sets out a serious strategy for ending Britain's relative decline. At its core is the aim to reverse decades of underinvestment - by private and public sec...Read more...

External publication

Ending stagnation

The UK has great strengths, but is a decade and a half into a period of stagnation. The toxic combination of slow growth and high inequality was straining the living standards of low- and middle-income Britain well befor...Read more...

CEP occasional paper

A micro-geographic house price index for England and Wales

We generate a mix-adjusted house price index for England and Wales from 2010 to 2020 at the level of lower-layer super output areas. To this end, we blend parametric and non-parametric estimation techniques and leverage ...Read more...

Blog

Vox EU:

Supply chain disruptions: Shocks, links, and hidden exposure

Supply chain disruptions are routinely blamed for things ranging from elevated inflation to shortages of medical equipment in the pandemic. But how should exposure to foreign supply chains be measured? Using a global inp...Read more...

CEP discussion paper

Rethinking revealed comparative advantage with micro and macro data

The Balassa's index of revealed comparative advantage does not necessarily reveal Ricardian comparative advantage. We propose an alternative sufficient statistics approach based on a quantitative standard trade model inc...Read more...

CEP discussion paper

Urban-biased structural change

Using firm-level data from France, we document that the shift of economic activity from manufacturing to services over the last few decades has been urban-biased: structural change has been more pronounced in areas with ...Read more...

CEP report

A new UK policy institution for growth and productivity: A blueprint

The UK has experienced 15 years of poor productivity performance relative to its own past and relative to its peers. Analysis of the UK's productivity problem points towards many contributing factors, discussed in this v...Read more...

CEP report

Cracking the Productivity Code: An international comparison of UK productivity

We examine the levels and growth of UK productivity compared to France, Germany and the US. UK labour productivity is much lower than in other countries, and almost all of this gap is due to lower capital and skills rath...Read more...

Blog

LSE British Politics and Policy:

Autumn Statement: Positive reforms to boost business investment, but a holistic approach to the UK's growth problem is still lacking

The UK faces a productivity crisis and tackling this will be crucial to regaining sustainable increases in living standards. In response, the Autumn Statement announced a large number of measures to try and boost busines...Read more...

Blog

Project Syndicate:

What to do about Ukraine's brain drain

Russia's invasion of Ukraine in February 2022 fuelled migration on a scale unseen since World War II, leaving 15 per cent of the population residing outside the country to this day. When Ukraine eventually gets the chanc...Read more...

Journal article

Journal of Health Economics: Forthcoming

The labour market returns to sleep

Despite the growing prevalence of insufficient sleep among individuals, we still know little about the labour market return to sleep. To address this gap, we use longitudinal data from Germany and leverage exogenous fluc...Read more...

Blog

Faster Please:

Economic growth and the environment don't have to be enemies

An incredible coincidence: Lots of folks who don't like innovative, entrepreneurial market-technocapitalism ... think the only way to tackle climate change is to abandon innovative, entrepreneurial market-technocapitalis...Read more...

Blog

LSE Research for the World:

Using peoples' feelings of happiness to make better policy decisions

How we spend our time directly impacts how satisfied we are with our lives, and understanding the activities that bolster our wellbeing - and those that don't - can help policymakers make better decisions when allocating...Read more...

CEP discussion paper

Tickets to the global market: First US patent awards and Chinese firm exports

We investigate how international patent activity enables firms from emerging economies to thrive in the global marketplace. We match Chinese customs data to US patent records and leverage the quasi-random assignment of U...Read more...

Blog

VoxDevTalks:

Renewable energy in low- and middle-income countries (Podcast)

The price of renewables has fallen much faster than other sources of energy, making it a more accessible option for governments in low- and middle-income countries. In this episode of VoxDevTalks, Mar Reguant and John Va...Read more...

Blog

LSE Business Review:

Joining multinationals' supply chains can benefit domestic firms' performance

Developing countries compete to attract multinationals to induce development. Becoming suppliers to multinationals could improve domestic firms' technology and managerial practices, and the host country's economy could b...Read more...

Journal article

IPPR Progressive Review: Forthcoming

Embedding green industrial policy in a growth strategy for the UK

In this article, we consider the role of a modern industrial strategy - coordinating a range of `industrial policies' - in shaping such an approach. How can the UK, an open and service-based economy with a small domestic...Read more...

Blog

LSE British Politics and Policy:

Autumn Statement: Is the UK gearing up on policies for sustainable growth?

Growth will be a key focus of the forthcoming Autumn Statement, which the Chancellor of the Exchequer will deliver this Wednesday. Anna Valero, Esin Serin and Brendan Curran argue that effective measures to promote green...Read more...

CEP discussion paper

Proximity of firms to scientific production

Following Bergeaud et al. (2022), we construct a new measure of proximity between industrial sectors and public research laboratories. Using this measure, we explore the underlying network of knowledge linkages between s...Read more...

CEP discussion paper

Exporting ideas: Knowledge flows from expanding trade in goods

We examine the effect of entry by French firms into a new export market on the dynamics of their patents' citations received from that destination. Applying a difference-in-differences identification strategy with a stag...Read more...

Blog

LSE British Politics and Policy:

Planning may be a political hot potato but radical reform cannot wait

Planning - largely because of the cruel growth in the unaffordability of housing - has risen up the political agenda. Reforms are urgently needed to allow more homes to be built, but change is notoriously difficult. Ahea...Read more...

Blog

South-West Social Mobility Commission's Substack:

Fixing a broken tongue

Lee Elliot Major explains why the language we use in education is important to challenge the divides that scar the education system....Read more...

CEP discussion paper

The skyscraper revolution: Global economic development and land savings

Tall buildings are central to facilitating sustainable urbanization and growth in cities worldwide. We estimate average elasticities of city population and built area to aggregate city building heights of 0.12 and -0.17,...Read more...

Blog

Vox EU:

Unravelling the complexities of sanctions

Sanctions have become a linchpin of foreign policy. But as they have grown more complex, understanding their true impact on targeted economies has become increasingly difficult, and evidence of their firm-level effects i...Read more...