Results

Journal article

Journal of Industrial Economics:

Asymmetric pass-through and competition

We study the retail price pass-through of four major tax changes in petroleum products using daily pricing data from gas stations on small Greek islands. We find that (i) the pass-through of the tax hikes is five times h...Read more...

Journal article

Review of Economics and Statistics:

Managing export complexity: the role of service outsourcing

As manufacturing firms expand globally, business services such as advertising and legal support become essential for entering new markets. Exploiting exogenous demand shocks, we document that French manufacturers increas...Read more...

Journal article

Journal of Property Investment and Finance:

Real estate insights: sweetening the dog's breakfast that is British property taxes

Purpose - This study aims to stimulate debate on the long overdue strategic reform of property taxes. Design/methodology/approach - This study adopts an approach combining a systematic literature review with economic ana...Read more...

Journal article

Journal of Law, Economics, and Organization:

Business groups as knowledge-based hierarchies of firms

We provide the first worldwide overview of the patterns of hierarchical differentiation across Business Groups (BGs), highlighting the coexistence of different hierarchical shapes. We show how the different shapes can ar...Read more...

Blog

LSE British Politics and Policy:

Council tax is an unfair mess - here's a system that could work better

The consensus says that it's a bad tax, yet politicians have been shying away from reforming council tax for decades. Paul Cheshire offers an alternative that could be fairer and act as the wealth tax that many are calli...Read more...

Journal article

Oxford Bulletin of Economics and Statistics :

Intangibles and industry concentration: a cross-country analysis

This paper presents new evidence on the growing scale of large businesses in the United States, Japan and 11 European countries. It documents a broad increase in industry concentration across the majority of countries an...Read more...

Blog

LSE Politics and Policy:

Only the super rich need fear the farmers' inheritance tax

Protesters and high-profile individuals like James Dyson argued that ending the inheritance tax exemption for farmers will spell the end of the family farmer. Paul Cheshire argues that's not the case, and that the introd...Read more...

Journal article

International Journal of Industrial Organization:

VAT pass-through and competition: evidence from the Greek islands

We examine how competition affects VAT pass-through in isolated oligopolistic markets as defined by the Greek islands. Using daily gasoline prices and a difference-in-differences methodology, we investigate how changes i...Read more...

Journal article

The Economic Journal:

Globalization and conflicts: the good, the bad, and the ugly of corporations in Africa

Using a novel georeferenced datataset on the affiliates and headquarters of multinational enterprises between 2007 and 2018 together with georeferenced conflict data for the African continent, this work establishes a cau...Read more...

Journal article

International Review of Financial Analysis :

Does it matter who owns firms? Evidence on the impact of supermajority control on private firms in Europe

We explore how the type of owner affects private enterprise investment decisions in Europe. In contrast to the literature, we analyze firms with concentrated (>95%) ownership stakes to reduce the potential that agency pr...Read more...

Blog

Vox EU:

Good management practices are great for productivity ... as well as profit shifting

Following the release of the Panama Papers and the Paradise Papers, there has been renewed research into profit shifting by multinational firms. This column utilises a novel dataset to show that well-managed subsidiaries...Read more...

CEP discussion paper

Asymmetric pass-through and competition

We study the retail price pass-through of four major tax changes in petroleum products using daily pricing data from gas stations on small Greek islands. We find that (i) the pass-through of the tax hikes is five times h...Read more...

Journal article

Nature:

Hybrid working from home improves retention without damaging performance

Working from home has become standard for employees with a university degree. The most common scheme, which has been adopted by around 100 million employees in Europe and North America, is a hybrid schedule, in which ind...Read more...

Journal article

American Economic Journal: Microeconomics:

Technology transfer in global value chains

Global value chains create opportunities for North-South technology diffusion. This paper studies technology transfer in value chains when contracts are incomplete and input production technologies are imperfectly exclud...Read more...

CEP discussion paper

Business groups, strategic acquisitions and innovation

We build a novel worldwide database merging information on patent-citations of firms paired with information on firms' affiliation to Business Groups (BGs). We exploit these data to document how BGs appropriate knowledge...Read more...

Journal article

Journal of Labor Economics:

The employment and distributional impacts of Nationwide Minimum Wage changes

We estimate the effect of the introduction of the UK?s National Living Wage in 2016, and increases in it up to 2019, using a new empirical method. We apply a bunching approach to a setting with no geographical variation ...Read more...

Government consultation

Business and Trade Committee

Has the UK lost its competitive edge in the global economy? What advantages does it possess, and how can these be exploited for economic growth? The Business and Trade Committee considers these questions as it continues ...Read more...

External report

The state of the UK economy 2024

The state of the UK economy is always an important matter, but it is all the more so in what looks likely to be an election year. This UK in a Changing Europe report takes stock of the UK economy in order to assess how i...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...

CentrePiece article

Low investment Britain: policies to promote foundations for growth

The UK investment ecosystem needs rewiring across the board to increase firms' desire to invest in productive and sustainable assets, and to enhance their ability to do so. Paul Brandily, Mimosa Distefano, Krishan Shah, ...Read more...

Journal article

Comparative Economic Studies:

Political connections, business groups and innovation in Asia

It is acknowledged that Asia?s remarkable economic achievements of the past 50 years build on institutional arrangements very different from the West, including the central role of business groups (BGs) as an organisatio...Read more...

Blog

Africa at LSE:

Public disclosure policies don't improve tax collection in Uganda

Public disclosure policies are designed to raise tax compliance where alternative enforcement capacity is limited. But they can also have negative consequences by showcasing the true extent of tax compliance, write Priya...Read more...

Blog

LSE Business Review:

Why business groups (think Samsung or Tata Group) have an export advantage in emerging markets

With their superior access to capital, knowledge and labour, business groups offer many advantages to their affiliated firms. Daniel Shapiro, Saul Estrin, Michael Carney and Zhixiang (Steven) Liang write that these advan...Read more...

CEP discussion paper

Public disclosure and tax compliance: evidence from Uganda

Public disclosure policies have potential to raise tax compliance where alternative enforcement capacity is limited. We study the effects of reporting delinquents and recognizing compliers and provide evidence on the soc...Read more...

Blog

Trade Talks:

Industrial policy and the rise of Romania's Silicon Valley (podcast)

In 2001, Romania gave an income tax break to a select group of software programmers. Isabela Manelici explains how this particular industrial policy helped stem Romania's "brain drain" problem, transformed the country's ...Read more...

Journal article

Journal of Management Studies:

Business groups and export performance: the role of coordination failures and institutional configurations

We explore the nature of business groups (BGs) and their affiliates in emerging markets through the lens of the coordination failures associated with economic development. We propose that BGs develop distinct economic an...Read more...

Blog

Vox EU:

Competition and pass-through: lessons from the Greek islands

Although theoretical analysis shows that competition is a key determinant of how firms pass through changes in tax rates to consumers, empirical evidence is scant. This column explores changes in the excise duty on petro...Read more...

External report

Beyond boosterism

The UK is a low investment nation. Low business investment is a big driver of this. Low investment is one reason behind the UK's weak productivity growth, which in turn is the main reason behind the stagnation in UK livi...Read more...

CEP discussion paper

VAT pass-through and competition: evidence from the Greek Islands

We examine how competition affects VAT pass-through in isolated oligopolistic markets as defined by the Greek islands. Using daily gasoline prices and a difference-in-differences methodology, we investigate how changes i...Read more...

Blog

Economics Observatory:

How has Brexit affected business investment in the UK?

Leaving the European Union has undoubtedly had effects on the UK economy. The most obvious ones will be on international trade. But Brexit might also have an impact on business investment, which is crucial for the econom...Read more...

Blog

Promarket:

The Case for Green Industrial Policy

Industrial policy was once so old-fashioned that it was jokingly called "the policy that shall not be named". Now it's back in a big way. On issues ranging from clean energy to semiconductors to Covid-19, governments are...Read more...

Journal article

Industrial and Corporate Change :

Industry concentration in Europe and North America

This paper presents new evidence on industry concentration at both the country and the world-region levels. It calculates country-level industry concentration measures from the novel data representative of the entire fir...Read more...

Journal article

Journal of Econometrics:

Surveying business uncertainty

We elicit subjective probability distributions from business executives about their own-firm outcomes at a one-year look-ahead horizon. In terms of question design, our key innovation is to let survey respondents freely ...Read more...

Blog

Harvard Business Review:

The UK economic crisis might not be a one-off

Markets have reacted poorly to the UK government's new "mini-budget" combining energy price caps with tax cuts for the well off. The government's search for a quick fix to economic growth is a mistake. In fact, restartin...Read more...

Journal article

American Economic Journal: Applied Economics :

Competition and pass-through: evidence from isolated markets

We measure how pass-through varies with competition in isolated oligopolistic markets with captive consumers. Using daily pricing data from gas stations on small Greek islands, we study how unanticipated and exogenous ch...Read more...

Journal article

The Quarterly Journal of Economics :

The slope of the Phillips Curve: evidence from US States

We estimate the slope of the Phillips curve in the cross section of U.S. states using newly constructed state-level price indices for nontradeable goods back to 1978. Our estimates indicate that the slope of the Phillips...Read more...

Journal article

Journal of Risk and Financial Management:

Pandemic-era uncertainty

We examine several measures of uncertainty to make five points. First, equity market traders and executives at nonfinancial firms have shared similar assessments about one-year-ahead uncertainty since the pandemic struck...Read more...

Blog

Banque de France:

Ten years on from the business tax reform: how has it affected companies' behaviour?

In 2010, the French corporation tax known as the local economic contribution or CET (contribution economique territoriale) replaced the business tax (TP - taxe professionnelle). This latter tax on production had come und...Read more...

Journal article

Environment and Planning B: Urban Analytics and City Science :

Modeling clusters from the ground up: a web data approach

This paper proposes a new methodological framework to identify economic clusters over space and time. We employ a unique open source dataset of geolocated and archived business webpages and interrogate them using Natural...Read more...

Blog

LSE Covid-19:

What we learnt about the Covid economy

In spring 2020, many countries imposed radical, urgent actions including lockdowns to protect their citizens' health - but there was also a need to protect people from the worst of the ensuing economic storm. Academics a...Read more...

Blog

LSE Business Review:

Improving productivity through better management practices

John Van Reenen, Nicholas Bloom, and Raffaella Sadun explain how the World Management Survey provides the evidence needed for designing industrial strategies to tackle low productivity....Read more...

Blog

LSE Business Review:

Five ways for leaders to work faster, better, and more inclusively

As the world of work changes, so should leadership. Grace Lordan describes five ways for leaders to become more effective....Read more...

Blog

VoxEU:

The impact of the war in Ukraine on economic uncertainty

Economists review the effects of the war in Ukraine, identifying where and to what extent measures of economic uncertainty have increased....Read more...

CEP discussion paper

Managing export complexity: The role of service outsourcing

As manufacturing firms expand globally, business services like advertising and legal support become essential for accessing new markets. This paper investigates how firms organize the provision of such market access serv...Read more...

Book

Restarting the future
How to fix the intangible economy

The past two decades have witnessed sluggish economic growth, mounting inequality, dysfunctional competition, and a host of other ills that have left people wondering what has happened to the future they were promised. R...Read more...

External report

Firms and inequalities

There have been some dramatic changes in the business landscape in American firms over the last four decades that have been extensively documented by researchers and are the subject of much public debate (e.g. Van Reenen...Read more...

Journal article

The Review of Economics and Statistics:

A natural experiment on job insecurity and fertility in France

Job insecurity can have wide-ranging consequences outside of the labour market. A 1999 rise in the French layoff tax paid by large private firms when they laid off older workers made younger workers less secure; this ins...Read more...

Blog

LSE British Politics and Policy:

The progressive quandary: how to design an immigration policy that balances competing objectives

There is a tension between strong employment rights, a supportive welfare state, equal rights for migrants and locals, and an open, non-selective immigration policy that creates hard decisions for progressive politicians...Read more...

Blog

LSE Business Review:

Will the US child tax credit reduce poverty and improve outcomes for children and parents?

The American Rescue Plan Act of 2021 temporarily increased the value of the child tax credit from $2,000 to $3,000 for children aged 6-16 and to $3,600 for younger children. To date, the Biden administration has been una...Read more...

Blog

Economics Observatory:

How might an independent Scotland build fiscal capacity?

Tim Besley and Chris Dann explain how developing a sense of common purpose is critical for nation-building - and would be a key issue for an independent Scotland....Read more...

Journal article

Social Science History:

Business entry and exit: career changes of proprietors in England and Wales (1851-81) using record-linkage

The article links the digital records of individual proprietors in the manuscript censuses 1851-81 for the whole of England and Wales using the BBCE database to identify career changes of employers and own account propri...Read more...

Blog

Innovation Growth Lab:

Lessons on designing tech RCTs with SMEs

Capucine Riom, Anna Valero and Juliana Oliveira-Cunha look at how new technology based on artificial intelligence can be used to help small and medium-sized businesses improve productivity....Read more...

CEP Covid-19 analysis

Real-time updates on the UK economy: trends, expectations and implications from business survey data

Covid-19 has caused substantial shocks to the UK economy, highlighting a need for real-time data to analyse trends. We use monthly business survey data from the Confederation of British Industry (CBI) to document recent ...Read more...

Blog

LSE Business Review:

Where are business angels from?

Business angels, those who invest in entrepreneurial ventures at a very early stage, play a key role for new business development, which can help improve a country's productivity. But where are business angels from? Fei...Read more...

CEP discussion paper

Business groups as knowledge-based hierarchies of firms

Hierarchical differentiation is a cornerstone of the organizing process. In this paper, we do three things. First, exploiting a newly assembled dataset, we provide the first worldwide overview of the patterns of hierarch...Read more...

Blog

LSE Covid-19:

A sense of mutual obligation means that even the rich should see the point of paying their taxes

Creating a strong sense of reciprocity between the state and its citizens makes it more likely they will pay taxes willingly, says Timothy Besley (LSE). As we emerge from a pandemic that emphasised the importance of mutu...Read more...

Blog

LSE Business Review:

How do internal communication flows change when a new CEO is appointed?

CEO turnovers are significant organisational events that typically mark a discontinuity in firm strategy and operations. These likely changes are visible in internal communication flows. Stephen Michael Impink, Andrea Pr...Read more...

CEP discussion paper

Organizational capacity and profit shifting

Good organizational capacity drives productivity and potential taxable profits but may also enable multinationals (MNEs) to more efficiently re-allocate profits across tax jurisdictions, lowering actual taxable profits. ...Read more...

Blog

POID blog:

Risk of Business Failure - POID Tracker

Research by Peter Lambert, Apolline Marion and John Van Reenen find that the number of firms at risk of failing has fallen from that earlier in the pandemic, but that one million jobs are still at risk and advancements c...Read more...

Blog

VoxEU:

Corporate taxes: views of leading economists on profit-shifting, tax base and a global minimum rate

Romesh Vaitilingam reports on economists' responses to the IGM Forum poll on issues surrounding the G7 global deal on corporate taxes....Read more...

Blog

LSE Covid-19:

Locked-in syndrome: why this must all end on 19 July

Zero COVID is unachievable, write Paul Dolan (LSE) and Sunetra Gupta (University of Oxford). Continuing to impose restrictions inflicts disproportionate harm on the young, small businesses and creative industries....Read more...

Journal article

Oxford Review of Economic Policy:

Education and management practices

The empirical management literature has found that the education of both managers and the workforce more generally appears to be an important driver of better management practices. This article sets out how such relation...Read more...

Blog

VoxEU:

Start-ups in the time of Covid-19: facing the challenges, seizing the opportunities

Flavio Calvino, Chiara Criscuolo and Rudy Verlhac explore ways for policymakers to incentivise businesses and speed up economic recovery against Covid-19's effect on start-ups and new firms....Read more...

Blog

What Works Centre for Local Economic Growth:

Reflections on struggling high streets

Henry Overman reflects on the findings from the What Works Centre's Recovery Workshop focusing on the British high street, looking at how an economic recovery from the pandemic focused on policy may best help our high st...Read more...

Blog

Grantham Institute blogs:

The answer to housing's stubborn carbon emissions problem: green offsets

Paul Cheshire and Christian Hilber propose 'green offsets' to reduce property taxes in a way that is strictly scaled to energy efficiency, as a simple intervention to address the UK's urgent need to reduce its residentia...Read more...

Blog

Vox EU:

How to improve tax compliance: Evidence from population-wide experiments in Belgium

Tax compliance lies at the heart of well-functioning societies, but the US and Europe spend vast sums annually to enforce it. This column discusses the results of population-wide experiments run in collaboration with the...Read more...

Journal article

Journal of Political Economy:

How to improve tax compliance? Evidence from population-wide experiments in Belgium

We study the impact of simplification, deterrence, and tax morale on tax compliance. We ran four natural field experiments varying the communication of the tax administration with the universe of income taxpayers in Belg...Read more...

Blog

POID Blog:

Risk of Business Failure: POID Tracker

Peter Lambert and John Van Reenen track how UK businesses view their risks of bankruptcy over the next three months, finding extensions to COVID support schemes have helped avert a wave of bankruptcies, but risks remain....Read more...

CEP discussion paper

Innovation and human capital policy

If innovation is to be subsidized, a natural place to start is to increase the quantity and quality of human capital. Innovation, after all, begins with people. Simply stimulating the ?demand side? through R&D subsidies ...Read more...

CentrePiece article

Innovation policy to restore American prosperity

The new US administration has the opportunity to reset an economic model that has failed to deliver prosperity for millions of Americans for decades. John Van Reenen calls for a Grand Innovation Challenge Fund ? federal ...Read more...

Blog

LSE US Centre:

Trade protection along supply chains: how antidumping measures against China hurt downstream industries

Production processes are often no longer confined to a single country; supply chains can be fragmented across great distances. By contrast, tariffs are often used by individual countries to protect certain industries. In...Read more...

Journal article

The Economic Journal:

Adjustment costs and factor demand: new evidence from firms' real estate

We study corporate real estate frictions and their effect on firm dynamics and labour demand. We build and simulate a general equilibrium model with heterogeneous firms that predicts the response of firms to a productivi...Read more...

Blog

LSE Brexit:

Covid-19 has disrupted businesses' ability to prepare for Brexit, but the lack of clarity on the UK-EU relationship is worse

Almost half of businesses report that COVID-19 has negatively affected their ability to prepare for Brexit. More than half listed uncertainty on the future arrangements between the UK and EU as a limitation on their abil...Read more...

Journal article

Business History:

The population of non-corporate business proprietors in England and Wales 1891?1911

This article uses population censuses to provide the first consistent counts of the population of business proprietors for 1891?1911. After appropriate adjustments for imperfect Census design the article confirms the per...Read more...

CentrePiece article

Innovation in the time of Covid-19

Businesses have rapidly adopted new technologies and new ways of working in response to the massive disruptions caused by the pandemic. A CEP report by Capucine Riom and Anna Valero suggests that if such innovation conti...Read more...

CEP discussion paper

Selection into entrepreneurship and self-employment

We study the effects of ability and liquidity constraints on entrepreneurship. We develop a three sector Roy model that differentiates between entrepreneurs and other self-employed to address puzzling gaps that have emer...Read more...

CEP Covid-19 analysis

The business response to Covid-19: the CEP-CBI survey on technology adoption

We present new data from a survey of 375 UK businesses conducted in July 2020 in partnership with the Confederation of British Industry (CBI), which seeks to understand the way in which firms have innovated in response t...Read more...

CEP Covid-19 analysis

Covid-19 and Brexit: Real-time updates on business performance in the United Kingdom

Nearly four months have passed since the UK went into lockdown to restrict the spread of Covid-19. The health effects have been severe, and an inevitable consequence of the lockdown was a huge 20 per cent decline in GDP ...Read more...

CentrePiece article

Climate change policy: the case for a Covid-19 carbon tax

Ralf Martin and John Van Reenen explain how taxing emissions could help to meet the costs of the crisis and encourage investment in clean innovation....Read more...

CEP discussion paper

Gravity in international finance: evidence from fees on equity transactions

We shed light on the impact of institutional quality and information barriers on trade in financial services using a novel panel data set on revenue earned on domestic and cross-border equity securities underwriting tran...Read more...

Blog

Economics Observatory:

Which firms and industries have been most affected by Covid-19?

Almost all UK businesses have been badly affected by the spread of Covid-19, but some industries have been hit harder than others. Financial market data and surveys of firms themselves provide insights into the scale of ...Read more...

Journal article

Heliyon:

Estimating the impact of the Internet of Things on productivity in Europe

The Internet of Things (IoT) refers to interconnected devices and objects that collect and transmit data via the Internet. The IoT is an evolving technology, promising to revolutionise industries, but also demanding far-...Read more...

CEP discussion paper

A natural experiment on job insecurity and fertility in France

Job insecurity can have wide-ranging consequences outside of the labour market. We here argue that it reduces fertility amongst the employed. The 1999 rise in the French Delalande tax, paid by large private firms when th...Read more...

Blog

LSE British Politics and Policy:

Covid-19 and wages: prepare for large cuts if you are younger and work in a small firm

Brian Bell, Nick Bloom, Jack Blundell, and Luigi Pistaferri estimate how the ongoing pandemic may impact earnings by age group, gender, and firm size. The data suggests that young men working in small firms could see ear...Read more...

Journal article

Fiscal Studies:

Financing local police spending in England and Wales: fiscal federalism in practice

Since 1995, police forces in England and Wales have been able to raise revenues locally to supplement grants from central government. We analyse the variation across police force areas in locally raised police revenues o...Read more...

CEP discussion paper

Industry concentration in Europe and North America

This report presents new evidence on industry concentration trends in Europe and in North America. It uses two novel data sources: representative firm-level concentration measures from the OECD MultiProd project, and bus...Read more...

CEP discussion paper

Competition and pass-through: evidence from isolated markets

We measure how pass-through varies with competition in isolated oligopolistic markets with captive consumers. Using daily pricing data from gas stations on small Greek islands, we study how unanticipated and exogenous ch...Read more...

CEP discussion paper

A toolkit of policies to promote innovation

Economic theory suggests that market economies are likely to under-provide innovation due to the public good nature of knowledge. Empirical evidence from the US and other advanced economies supports this idea. We summari...Read more...

Journal article

Journal of the European Economic Association:

Joseph Schumpeter Lecture, EEA Annual Congress 2017: do tax cuts produce more Einsteins? The impacts of financial incentives versus exposure to innovation on the supply of inventors

Many countries provide financial incentives to spur innovation, ranging from tax incentives to research and development grants. In this paper, we study how such financial incentives affect individuals' decisions to pursu...Read more...

CEP discussion paper

How to improve tax compliance? Evidence from population-wide experiments in Belgium

We study the impact of deterrence, tax morale, and simplifying information on tax compliance. We ran _ve experiments spanning the tax process which varied the communication of the tax administration with all income taxpa...Read more...

Journal article

Quantitative Economics:

Incidence, salience, and spillovers: the direct and indirect effects of tax credits on wages

Tax credits are a popular way to alleviate in-work poverty. A common empirical assumption is that the benefit of the tax credit is borne solely by the claimant workers. However, economic theory suggests no particular rea...Read more...

CEP discussion paper

Do tax cuts produce more Einsteins? The impacts of financial incentives vs. exposure to innovation on the supply of inventors

Many countries provide financial incentives to spur innovation, ranging from tax incentives to research and development grants. In this paper, we study how such financial incentives affect individuals' decisions to pursu...Read more...

Journal article

Regional Science and Urban Economics:

The bedroom tax

Housing subsidies for low income households are a central pillar of many welfare systems, but an expensive one. This paper investigates the consequences of an unusual policy aimed at reducing the cost of these subsidies ...Read more...

Government consultation

Business productivity review

The Business Productivity Review is the Department for Business, Energy and Industrial Strategy and HM Treasury response to the call for evidence. It outlines plans to spend #56 million to support business productivity, ...Read more...

CentrePiece article

In brief... The bedroom tax

The `bedroom tax? ? a UK government policy introduced in 2013 that cut housing benefits for social tenants deemed to have a `spare? bedroom ? saved some public money, according to research by Steve Gibbons and colleagues...Read more...

Blog

ESRC blog:

Becoming a Research Institute: the Centre for Economic Performance

by Stephen Machin As Director of the Centre for Economic Performance (CEP) at LSE, I am delighted that the Centre has been named as one of the two inaugural ESRC Research Institutes. This is testament to the achievements...Read more...

Journal article

The Review of Economics and Statistics:

The asymmetric experience of positive and negative economic growth: global evidence using subjective well-being data

Are individuals more sensitive to losses than gains in terms of economic growth?We find that measures of subjective well-being are more than twice as sensitive to negative as compared to positive economic growth. We use ...Read more...

CEP discussion paper

The bedroom tax

Housing subsidies for low income households are a central pillar of many welfare systems, but an expensive one. This paper investigates the consequences of an unusual policy aimed at reducing the burden of these subsidie...Read more...

CEP industrial strategy paper

Investing in People: The Case for Human Capital Tax Credits

It is now widely recognised that human capital accumulation and research and development (R&D) are key drivers of economic growth, as is documented in most standard textbooks (e.g. Acemoglu, 2007; Romer, 1996). Estimates...Read more...

CVER Briefing Note

Investing in People: The Case for Human Capital Tax Credits

Read more...