Results

Journal article

82nd Annual Meeting of the Academy of Management:

Efficient Industrial Policy for Innovation: Standing on the Shoulders of Hidden Giants

Knowledge spillovers drive a wedge between private and social returns to R&D. Efficient innovation policy assigns subsidies to fields where spillovers are relatively important. We develop new measures for the private and...Read more...

CEP discussion paper

Efficient industrial policy for innovation: standing on the shoulders of hidden giants

Efficient R&D subsidies target technology fields where innovation generates the most valuable knowledge spillovers. To quantify potential efficiency gains from targeting, we infer field-specific subsidy return rates from...Read more...

CEP discussion paper

Have productivity and pay decoupled in the UK?

In the long-run at the macro level, the real pay of workers tends to follow labour productivity. In recent years, however, there have been concerns that this relationship has broken down and that pay has become "decouple...Read more...

CentrePiece article

Wage stagnation and the legacy costs of employment

Although UK real wages have been stagnant for over a decade, there has been a notable increase in nonwage compensation. But as Brian Bell reveals, this rise consists largely of special payments to fund deficit gaps in '...Read more...

CentrePiece article

Wage growth and productivity growth: the myth and reality of 'decoupling'

Employees in the UK are not being denied their fair share of economic growth, according to research by João Paulo Pessoa and John Van Reenen. Their investigation of claims that wage growth has become ‘decoupled’ from pro...Read more...

CEP discussion paper

Decoupling of wage growth and productivity growth? Myth and reality

It is widely believed that in the US wage growth has fallen massively behind productivity growth. Recently, it has also been suggested that the UK is starting to follow the same path. Analysts point to the much faster gr...Read more...