Results

CEP occasional paper

CEP wellbeing coefficient database

Wellbeing cost-benefit analysis requires credible estimates of how much specific life circumstances change subjective wellbeing. This paper documents and contextualises a compendium of 123 such estimates, drawn from 19 d...Read more...

Journal article

Social Science & Medicine:

Passing on the flame: Do mega sports events promote health behaviours?

To justify billion-dollar public expenditures on mega sports events, proponents often suggest lasting improvements in health behaviours among the general public. To estimate the returns to health behaviours from hosting ...Read more...

Journal article

The Economic Journal:

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...

Journal article

Psychological Medicine :

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...

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...

Chapter

WELLBY

in Elgar Encyclopedia of Behavioural and Experimental Economics

The WELLBY is a measure of individual subjective wellbeing, as judged by individuals themselves, capturing both the quality of life and the length of life. We outline its use for measuring social progress and for social ...Read more...

CEP discussion paper

Talking therapy: Impacts of a nationwide mental health service in England

Mental health problems impose significant costs, yet healthcare systems of-ten overlook them. We provide the first causal evidence on the effectiveness of a nationwide-scaled mental health service in England for treating...Read more...

CentrePiece article

How much is your time worth?

Wages indicate how much people want for their time at work, but how can we find out what value they place on time spent doing other things? Christian Krekel and George MacKerron analyse over two million responses to a sm...Read more...

Journal article

Fiscal Studies:

New approaches to measuring welfare

Economics has traditionally understood 'welfare' (what makes a life go well) as the satisfaction of preference. This conceptualisation of welfare is typically measured using revealed preferences, proxied through income a...Read more...

CEP discussion paper

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...

CEP discussion paper

Back to Edgeworth? Estimating the value of time using hedonic experiences

Following early economist Francis Y. Edgeworth's proposal to measure people's hedonic experiences as they go about their daily lives, we use a smartphone app that surveyed a panel of 30; 928 individuals UK-wide over seve...Read more...

CEP discussion paper

A few Euro more: benefit generosity and the optimal path of unemployment benefits

In this paper, we exploit the provision of higher UB at different points of the unemployment spell to shed light on the relative cost of insurance at different horizons after the job loss. First, we exploit a double cap ...Read more...

CEP occasional paper

Regional differences in UK transport BCRs: an empirical assessment

The UK government uses a Value for Money (VfM) framework to help allocate infrastructure expenditure. At the core of this framework is a benefit to cost ratio (BCR) that is calculated using a set of established monetised...Read more...

Journal article

Oxford Review of Economic Policy:

What is the meaning of (statistical) life? Benefit-cost analysis in the time of Covid-19

Efforts to support public policy decisions need to be conducted carefully and thoughtfully. Recent efforts to estimate the social benefits of reductions in mortality risks associated with COVID-19 interventions are likel...Read more...

CEP occasional paper

When to release the lockdown: a wellbeing framework for analysing costs and benefits

In choosing when to end the lockdown, policy-makers have to balance the impact of the decision upon incomes, unemployment, mental health, public confidence and many other factors, as well as (of course) upon the number o...Read more...

Journal article

Economics of Transportation:

Quantifying wider economic impacts of agglomeration for transport appraisal: existing evidence and future directions

The Authors This paper is concerned with the Wider Economic Impacts (WEIs) of transport improvements that arise via scale economies of agglomeration. It reviews the background theory and empirical evidence on agglomerati...Read more...

CEP discussion paper

Quantifying wider economic impacts of agglomeration for transport appraisal: existing evidence and future directions

This paper is concerned with the Wider Economic Impacts (WEIs) of transport improvements that arise via scale economies of agglomeration. It reviews the background theory and empirical evidence on agglomeration, explains...Read more...

Journal article

American Economic Review:

How local are labor markets? Evidence from a spatial job search model

This paper models the optimal search strategies of the unemployed across space to characterize local labor markets. Our methodology allows for linkages between numerous areas, while preserving tractability. We estimate t...Read more...

Journal article

American Economic Review:

Is modern technology responsible for jobless recoveries?

Since the early 1990s, recoveries from recessions in the US have been plagued by weak employment growth. We investigate whether a similar problem afflicts other developed economies, and whether technology is a culprit. W...Read more...

Journal article

IZA Journal of Labor and Development:

Pathways from school to work in the developing world

This paper uses novel micro data from the ILO-STWT surveys to provide evidence on the duration, endpoint, and determinants of the transition from school to work in a sample of 23 low- and middle-income countries around t...Read more...

CentrePiece article

Lessons from the economics of crime

Olivier Marie explains the value of an economic approach to the analysis, design and evaluation of crime-fighting policies....Read more...

Book

Lessons from the Economics of Crime
What Reduces Offending?

Research from the United States, Europe, and South America demonstrates the usefulness of the tools of economic analysis for the study of crime. Economists who bring the tools of economic analysis to bear on the stu...Read more...

CEP discussion paper

A general method for valuing non-market goods using wellbeing data: three-stage wellbeing valuation

Subjective wellbeing data is becoming increasingly popular in economics research. The wellbeing valuation approach uses wellbeing data instead of data gleaned from preferences to attach monetary values to non-market good...Read more...

SERC/Urban and Spatial Programme Discussion Paper

External Benefits of Brownfield Redevelopment: An Applied Urban General Equilbirum Analysis

Does brownfield redevelopment warrant government support? We explore several external benefits in an urban general equilibrium framework. Preferences are modelled such that demand for housing units in the city is downwar...Read more...

CEP discussion paper

Improving Access to Psychological Therapy: Initial Evaluation of the Two Demonstration Sites

The Government's Improving Access to Psychological Therapy (IAPT) programme aims to implement NICE Guidance for people with depression and anxiety disorders. In the first phase of the programme, two demonstration sites w...Read more...

SERC/Urban and Spatial Programme Discussion Paper

Re-Investment and the Survival of Foreign-Owned Plants

Foreign-owned plants have higher conditional exit rates, but this paper tests the hypothesis that re-investment 'embeds' these plants, leading to significantly longer survival time durations. A unique dataset is used for...Read more...

CEP discussion paper

Cost-Benefit Analysis of Psychological Therapy

At present six million people are suffering from clinical depression or anxiety disorders, but only a quarter of them are in treatment. NICE Guidelines prescribe the offer of evidence-based psychological therapy, but the...Read more...

CEP discussion paper

Crime and Benefit Sanctions

In this paper we look at the relationship between crime and economic incentives in a different way to other work in this area. We look at changes in unemployment benefits and the imposition of benefit sanctions as a mean...Read more...

CEP discussion paper

The Impact of the Labour Market on the Timing of Marriage and Births in Spain.

The main purpose of this paper is to show how the labour market affects Spanish individual fertility decisions. Spain is an interesting case due to its huge fertility decline. Our hypothesis is that precarious Spanish la...Read more...

CEP discussion paper

Fixed-Term Contracts and the Duration Distribution of Unemployment

In the mid-1980s, many European countries introduced fixed-term contracts. Since then their labor markets have become more dynamic. This paper studies the implications of such reforms for the duration distribution of une...Read more...

CEP discussion paper

Explaining Currency Crises: A Duration Model Approach

This paper is an empirical investigation into the duration of exchange rate episodes characterized by the absence of speculative attacks. We estimate a duration model for OECD countries during the 1970-1997 period. Speci...Read more...

CEP discussion paper

Unemployment Dynamics, Duration and Equilibrium: Evidence from Britain

This paper challenges the consensus on the nature of unemployment dynamics in Britain. We show that the argument that changes in unemployment arise mostly from changes in the duration of unemployment (rather than in the ...Read more...

CEP discussion paper

Workers' Transitions from Temporary to Permanent Employment: the Spanish Case

This paper studies the duration pattern of fixed-term contracts and the determinants of the transformation of these into permanent ones. To address this issue we estimate a duration model for temporary employment, with c...Read more...