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Journal articles

Peer-reviewed academic papers by CEP researchers. Where possible, open access to these articles is funded by the Economic and Social Research Council.

Photo of some money by Ryan Quintal via Unsplash
Pay Transparency and Gender Equality

UK pay transparency cut the gender pay gap by 19%, mainly by slowing men's pay growth, especially under greater public scrutiny.
Photo of a man in a business suit by Hunters-Race via Unsplash.
Monopsony and the Wage Effects of Migration

Under imperfect competition, migration raises wage mark-downs by boosting firm monopsony power, redistributing income from workers to firms despite higher aggregate native earnings.

Latest Journal articles

Journal article
Economics of Education Review:
Forthcoming
Free to improve? The impact of free school attendance in England

We evaluate the impact of attending two secondary free schools in England - new autonomous state-funded start-ups - using admission lotteries and a distance-based regression discontinuity design. We characterise each sch...Read more...

Marco Bertoni, Gabriel Heller-Sahlgren and Olmo Silva

30 September 2025

Journal article
Journal of Development Economics:
Forthcoming
The firm-pay gender gap and formal sector churn over the life cycle

We find that women sorting into lower paying firms explains nearly half of the gender pay gap in South Africa. Using matched employer-employee panel data covering the universe of formal workers, we show sorting varies co...Read more...

Ihsaan Bassier and Leila Gautham

1 September 2025

Journal article
Journal of Corporate Finance:
Forthcoming
Boards of Banks

Bank board directors are highly independent but possess limited prior banking experience. Using a sample of banks from 90 countries between 2000 and 2020, we find that country-specific characteristics explain most of the...Read more...

Daniel Ferreira, Tom Kirchmaier, Laura Metzger and Shiwei Ye

9 July 2025

Journal article
The Economic Journal:
Forthcoming
Monopsony and the Wage Effects of Migration

If labour markets are competitive, migration can only affect native wages via marginal products. But under imperfect competition, migration may also increase wage mark-downs – if firms have greater monopsony power over m...Read more...

Michael Amior and Alan Manning

8 July 2025

Journal article
American Economic Journal: Economic Policy:
Pay Transparency and Gender Equality

Since 2018, UK firms with at least 250 employees have been mandated to publicly disclose gender equality indicators. Exploiting variations in this mandate across firm size and time, we show that pay transparency closes 1...Read more...

Jack Blundell, Emma Duchini, Stefania Simion and Arthur Turrell

1 May 2025

Journal article
Journal of International Economics:
Forthcoming
Technical change, jobs, and wages in the global economy

This paper presents a compact and intuitive framework that consolidates, simplifies, and extends results on the links between technology, trade, and labour market outcomes. It makes three main contributions. First, it pr...Read more...

Richard E. Baldwin, Jan I. Haaland and Anthony J. Venables

1 May 2025

Journal article
Management Science:
Communication Within Firms: Evidence from CEO Turnovers

This paper uses novel, firm-level communication measures derived from communications metadata several months before and after a CEO transition for 102 firms to study whether and how this organizational event is reflected...Read more...

Stephen Michael Impink, Andrea Prat and Raffaella Sadun

5 April 2025

Journal article
The Economic Journal:
Forthcoming
Employer Screening and Optimal Unemployment Insurance

Field experiments show that employers are less likely to consider long-term unemployed job-seekers for interviews. We study the implications for optimal unemployment insurance (UI). Based on a structural model of job sea...Read more...

Mario Meier and Tim Obermeier

1 April 2025

Journal article
American Economic Review:
Fighting Climate Change: International Attitudes toward Climate Policies

This paper explores global perceptions and understanding of climate change and policies, examining factors that influence support for climate action and the impact of different types of information. We conduct large-scal...Read more...

Ana Sanchez Chico, Antoine Dechezleprêtre, Adrien Fabre, Tobias Kruse, Bluebery Planterose and Stefanie Stantcheva

1 April 2025

Journal article
American Economic Review:
Trade Shocks and Credit Reallocation

This paper identifies a credit-supply contraction that arises endogenously after trade liberalization. Banks with loan portfolios concentrated in sectors exposed to competition from China face an increase in non-performi...Read more...

Stefano Federico, Fadi Hassan and Veronica Rappoport

1 April 2025

Journal article
Review of Income and Wealth :
Forthcoming
What makes a satisfying life? Prediction and interpretation with machine-learning algorithms

Machine Learning (ML) methods are increasingly being used across a variety of fields and have led to the discovery of intricate relationships between variables. We here apply ML methods to predict and interpret life sati...Read more...

Andrew E. Clark, Conchita D'Ambrosio, Niccolo Gentile and Alexandre Tkatchenko

25 March 2025

Journal article
Economic Geography:
Don’t Shoot the Pianist: Creative firms, workers, and neighbourhood gentrification

We examine links between creative activity and gentrification at the neighbourhood level. These dynamics are both complex and important to understand. Artists may help ‘upgrade’ inexpensive neighbourhoods before being di...Read more...

Diana Gutierrez-Posada, Tasos Kitsos and Max Nathan

24 March 2025

Journal article
The Economic Journal:
Service Offshoring and Export Experience

Service inputs significantly influence export costs and firm internationalisation. A new dataset on French firms’ participation in global value chains reveals that experienced exporters are more likely to source services...Read more...

Giuseppe Berlingieri and Luca Marcolin

20 March 2025

Journal article
LSE Public Policy Review:
Explaining Variation in Child Penalties: The Role of Gender Norms and Policies

This paper contributes to understanding global variation in child and marriage penalties by focusing on the role of patriarchal control, gender norms, and public policies. We introduce a new measure of gender norms, the ...Read more...

Camille Landais, Gabriel Leite-Mariante and Sveva Manfredi

18 March 2025

Journal article
Psychological Medicine :
Forthcoming
Cost-benefit of IAPT Norway and effects on work-related outcomes and health care utilization: results from a randomized controlled trial using registry-based data

Data from an RCT of IAPT Norway (“Prompt Mental Health Care” [PMHC]) were linked to several administrative registers up to five years following the intervention. The aims were to (1) examine the effects of PMHC compared ...Read more...

David M. Clark, Gunnel Hensing, Marit Knapstad, Richard Layard and Otto R.F. Smith

13 March 2025

Journal article
The Review of Economics and Statistics :
Forthcoming
The Value of Managers' Export Experience: Lessons from the Angolan Civil War

We investigate how managers help firms grow by entering a new export market. We conduct an event study on the decision to export to Angola using data on Portuguese firms and workers. We evaluate the impact of the presenc...Read more...

Giordano Mion, Luca David Opromolla and Alessandro Sforza

12 March 2025

Journal article
Journal of Environmental Economics and Management:
Air pollution and innovation

If air pollution harms innovation - and therefore future productivity - existing assessments of its economic cost are incomplete. We estimate the effect of fine particulate matter concentration on inventive output in 977...Read more...

Felix Bracht and Dennis Verhoeven

6 March 2025

Journal article
Climate Policy:
Policing carbon markets

Carbon markets have emerged in recent decades as one of the most important tools for curbing industrial greenhouse gas emissions, but they present a number of novel enforcement challenges as compared to more conventional...Read more...

Raphael Calel and Antoine Dechezleprêtre

6 March 2025

Journal article
Review of Economics and Statistics :
Vacancy Duration and Wages

We estimate the elasticity of vacancy duration with respect to posted wages, using data from the near-universe of online job adverts in the United Kingdom. Our research design identifies duration elasticities by leveragi...Read more...

Ihsaan Bassier, Alan Manning and Barbara Petrongolo

5 March 2025

Journal article
Science Advances :
Two paradoxes in women’s well-being

We review the literature on the gender gap in well-being, identifying two key paradoxes. First, although women today report higher levels of life satisfaction and overall happiness than men, they experience worse outcome...Read more...

Jan-Emmanuel De Neve, Caspar Kaiser, Naomi Muggleton and Edika G. Quispe-Torreblanca

5 March 2025

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