Results

CEP occasional paper

UK national productivity trends: getting the data right

We compare standard productivity estimates of UK output per worker derived from the Labour Force Survey (LFS) with newly released estimates based on more reliable "Real Time Information" (RTI) administrative data. LFS-ba...Read more...

Journal article

Review of World Economics:

The changing structure of global value chains and technological change: evidence from the firm-level patent data

This paper explores how changes in the relative position in the Global Value Chains (GVCs) affect firms? innovation activities. The analysis combines matched patent-firm data with information on GVC networks from the OEC...Read more...

CEP discussion paper

GRAPH-EE: building employer - employee panels from a knowledge graph and company microdata

Linked employer-employee datasets are a hugely powerful tool for researchers and policymakers across the social sciences. However, access to such data is typically highly restricted and the quality of data varies substan...Read more...

Journal article

Energy Economics:

Firm climate investment: a glass half-full

The green transition will require large investments from firms, yet little is known about the scale and drivers of climate-related capital expenditure across the UK economy. To address this gap, we draw on a large, repre...Read more...

Journal article

SERIEs:

Paternity leave in Spain

Between 2017 and 2021, Spain progressively extended paternity leave from 2 to 16 weeks, equalizing it with maternity leave and introducing mandatory weeks. A 2018 reform also allowed fathers to split their leave. Using a...Read more...

Journal article

Research Policy:

Mapping digital businesses with big data: some early findings from the UK

Governments around the world want to develop their ICT industries. Researchers and policymakers thus need a clear picture of digital businesses, but conventional datasets and typologies tend to lag real-world change. We ...Read more...

Journal article

International Economics:

Reassessing EU comparative advantage: the role of technology

Based on a sufficient statistics approach, we show how the state of technology of European industries relative to the rest of the world can be empirically assessed in a way that is simple in terms of computation, parsimo...Read more...

Blog

LSE Business Review:

Eugenie Dugoua: Data centres are the factories of our modern lives

Our lives today increasingly depend on data centres for simple activities like writing emails or watching videos. The arrival of large language models such as ChatGPT has caused a significant uptick in the use of digital...Read more...

Blog

LSE IQ Podcast:

Is AI destroying the planet? (podcast)

Professor Nick Couldry, Dr Eugenie Dugoua, Ceara Carney | Artificial intelligence is transforming the world around us, offering increased productivity and promising to help tackle difficult problems like global warming. ...Read more...

CEP discussion paper

Firm-level technology adoption in times of crisis

We investigate the diffusion of frontier technologies across German firms before and during the Covid-19 crisis. Our analysis tracks the nature, timing, and pandemic-related motivations behind technology investments, usi...Read more...

Blog

Bruegel:

Pitfalls to avoid as the EU ramps up defence investment

The European Union's push to rearm in the face of growing external threats and the increasing disengagement of the United States has, so far, been primarily a push to spend more on defence and to find ways to facilitate ...Read more...

Blog

MIT Sloan Management Review:

Reskilling the Workforce With AI: Harvard Business School's Raffaella Sadun (podcast)

Harvard Business School professor Raffaella Sadun's research has historically focused on digital reskilling. Now, rapid technological changes - like AI - are reshaping the nature of work. Raffaella's research has explore...Read more...

Journal article

Management Science:

Cultural homophily and collaboration in superstar teams

One may reasonably think that cultural homophily, defined as the tendency to associate with others of similar culture, affects collaboration in multinational teams in general but not in superstar teams of professionals a...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...

Blog

Promarket:

Does Domestic Competition Help EU Firms Compete Abroad?

In a survey of nearly 400 European firms that export abroad, Elena Argentesi, Livia De Simone, Stephan Paetz, Vincenzo Scrutinio find that most firms believe that competition forces them to produce cheaper and higher qua...Read more...

Blog

Project Syndicate:

Can Europe create an innovation economy?

After the 30 "glorious" years of economic growth following World War II, European policymakers failed to adopt the institutions and policies to promote disruptive innovation. Now, Europe urgently needs to adopt a new eco...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...

CEP discussion paper

Brexit and investment

In 2016, the UK voted to leave the European Union and growth in UK manufacturing investment ground to a halt. This paper uses administrative trade data to investigate the causal relationship between these events. We expl...Read more...

Journal article

The Review of Economic Studies:

Using disasters to estimate the impact of uncertainty

Uncertainty rises in recessions and falls in booms. But what is the causal relationship? We construct cross-country panel data on stock market returns to proxy for first- and second-moment shocks and instrument these wit...Read more...

Journal article

The Economic Journal:

How polarised are citizens? Measuring ideology from the ground-up

We investigate whether the ideological polarisation of citizens has increased in Western democracies. We propose a novel methodology to identify individual ideologies by applying Latent Dirichlet Allocation to political ...Read more...

Journal article

Journal of Environmental Psychology:

Working memory and fluid intelligence are differentially related to categories of urban fabric in older adults: Results from the Berlin aging study

Urbanization is Globally increasing at a rapid rate but its consequences for mental health, including cognitive functioning, are not well understood. In particular, little is known about the effects of different morpholo...Read more...

Journal article

Research Policy:

A new dataset to study a century of innovation in Europe and in the US

Innovation is an important driver of potential growth but quantitative evidence on the dynamics of innovative activities in the long-run are hardly documented due to the lack of data, especially in Europe. In this paper,...Read more...

CEP discussion paper

Understanding multi-layered sanctions: a firm-level analysis

This paper examines which types of firms are hit by multi-layered sanctions, quantifies the extent of the economic impact on the affected firms, and identifies the channels through which these effects are propagated. To ...Read more...

Journal article

The Review of Economic Studies:

A theory of falling growth and rising rents

Growth has fallen in the U.S. amid a rise in firm concentration. Market share has shifted to low labour share firms, while within-firm labour shares have actually risen. We propose a theory linking these trends in which ...Read more...

CEP discussion paper

Knowledge spillovers from clean innovation. A tradeoff between growth and climate?

Innovation policy faces a tradeoff between growth and climate objectives when the knowledge spillover externality from clean innovation is low compared to other sectors. To make such a comparison, we use patent data to e...Read more...

Journal article

Research Policy:

Global value chains and domestic innovation

This paper explores how changes in both position and participation in Global Value Chain (GVC) networks affect firm innovation. The analysis combines matched patent-firm data for Japan with measures of GVC network centra...Read more...

Journal article

Regional Science and Urban Economics :

Micro-geographic property price and rent indices

We develop a programming algorithm that predicts a balanced-panel mix-adjusted house price index for arbitrary spatial units from repeated cross-sections of geocoded micro data. The algorithm combines parametric and non-...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...

CentrePiece article

Clean technologies for growth and equity

Public investment in developing energy sources that don?t cause climate change is a strategy for economic growth that could also contribute to the UK?s levelling up agenda, says Ralf Martin. His analysis indicates that s...Read more...

CEP discussion paper

Cultural homophily and collaboration in superstar teams

One may reasonably think that cultural preferences affect collaboration in multinational teams in general, but not in superstar teams of professionals at the top of their industry. We reject this hypothesis by creating a...Read more...

Journal article

Journal of Operations Management:

Working from home and firm resilience to the Covid-19 pandemic

The COVID-19 pandemic has disrupted firms' operations. To cope with the crisis, many firms have allowed their employees to work from home (WFH). We examine whether a firm's WFH capacity has increased its resilience durin...Read more...

Journal article

Energy for Sustainable Development :

Assessing reliability of electricity grid services from space: the case of Uttar Pradesh, India

While most households around the world have access to electricity, the number of hours per day when the grid supplies them with adequate voltage can be low. Improving the reliability of electricity is crucial to make pro...Read more...

Journal article

American Journal of Agricultural Economics:

Blame it on the rain: rainfall variability, consumption smoothing, and subjective well-being in rural Ethiopia

How does income uncertainty affect individual well-being? Combining individual-level panel data from rural Ethiopia with high-resolution meteorological data, we estimate that mean-preserving increases in rainfall variabi...Read more...

CEP discussion paper

A new dataset to study a century of innovation in Europe and in the US

Innovation is an important driver of potential growth but quantitative evidence on the dynamics of innovative activities in the long-run are hardly documented due to the lack of data, especially in Europe. In this paper,...Read more...

CEP discussion paper

Knowledge spillovers from clean and emerging technologies in the UK

The UK government has committed to increase R&D support for clean technologies in an effort to meet its net-zero target by 2050. The opportunity cost of such programs crucially depends on the value of knowledge spillover...Read more...

Journal article

Education Economics:

A comparison of earnings related to higher technical and academic education

Not much is known about higher technical education in England, but current education policy looks positively at it to improve labour productivity and social mobility. We provide updated estimates of individual earnings d...Read more...

Journal article

Research Policy:

Innovative events: product launches, innovation and firm performance

In this paper, we shed new light on the links between firm-level innovation and growth. We introduce data that capture a difficult-to-observe aspect of firms' innovative activity ? new product/service launches ? at scale...Read more...

Blog

What Works Centre for Local Economic Growth:

Monitoring and evaluating during the Covid-19 recovery

Helene Donnat summarises the discussion from the What Works Growth's fifth Economic Recovery workshop, exploring the challenges places are facing in undertaking good quality monitoring and evaluation....Read more...

CEP discussion paper

AI-tocracy

Can frontier innovation be sustained under autocracy? We argue that innovation and autocracy can be mutually reinforcing when: (i) the new technology bolsters the autocrat's power; and (ii) the autocrat's demand for the ...Read more...

CEP report

Are 'green' jobs good jobs?

The transition to net-zero will have far-reaching but unequal effects, as 'dirty' jobs disappear while new jobs aligned with or supportive of the net-zero objective - which we refer to as 'green' - are created. As govern...Read more...

Journal article

Journal of Common Market Studies:

The effect on foreign direct investment of membership in the European Union

This article explores the impact of EU membership on foreign direct investment (FDI). It analyses empirically how the effects of such deep integration differ from other forms and investigates what drives these effects. U...Read more...

CEP discussion paper

Data-intensive innovation and the State: evidence from AI firms in China

Artificial intelligence (AI) innovation is data-intensive. States have historically collected large amounts of data, which is now being used by AI firms. Gathering comprehensive information on firms and government procur...Read more...

Journal article

Review of Economic Studies:

A reply to Campbell and Mau

In Bloom et al. (2016, Bloom, Draca and Van Reenen (BDVR)), we have a set of nine results on the impact of Chinese trade. The first three showed that Chinese trade increased technical change in European firms measured by...Read more...

Journal article

Journal of Economic Behavior and Organization:

The long-lasting effects of family and childhood on adult wellbeing: evidence from British cohort data

To what extent do childhood experiences continue to affect adult wellbeing over the life course? Previous work on this link has been carried out either at one particular adult age or for some average over adulthood. We h...Read more...

CEP discussion paper

Place-based policies and spatial disparities across European cities

Spatial disparities in income levels and worklessness in the European Union are profound, persistent and may be widening. We describe disparities across metropolitan regions and discuss theories and empirical evidence th...Read more...

Journal article

Information Processing and Management:

Machine learning classification of entrepreneurs in British historical census data

This paper presents a binary classification of entrepreneurs in British historical data based on the recent availability of big data from the I-CeM dataset. The main task of the paper is to attribute an employment status...Read more...

Journal article

Regional Studies:

Creative differences? Measuring creative economy employment in the United States and the UK

This paper compares the creative economies of the US and the UK regions and nations using high-quality administrative microdata spanning the period 2011?13. The creative industries are highly urbanized in both countries....Read more...

Journal article

Quarterly Journal of Economics:

Measuring aggregate price indices with taste shocks: theory and evidence for CES preferences

We develop an approach to measuring the cost of living for CES preferences that treats demand shocks as taste shocks that are equivalent to price shocks. In the presence of relative taste shocks, the Sato-Vartia price in...Read more...

CEP discussion paper

Measuring and explaining management in schools: new approaches using public data

Why do some students learn more in some schools than others? One consideration receiving growing attention is school management. To study this, researchers need to be able to measure school management accurately and chea...Read more...

CVER Research Paper

The value of progression in further education

In this study, we investigate the value of progression associated with different vocational qualifications disaggregated by subject area of study. Previous analyses of labour market outcomes by subject of study demonstra...Read more...

CVER Research Paper

Labour market outcomes disaggregated by subject area using the Longitudinal Education Outcomes (LEO) data

In this paper, we investigate the relationship between labour market outcomes and vocational qualifications disaggregated by subject area of study. Using individuals holding vocational qualifications in any subject at th...Read more...

Journal article

Economica:

Who got the Brexit blues? The effect of Brexit on subjective Wellbeing in the UK

We use the 2015?16 waves of the UK Household Longitudinal Study (Understanding Society) to look at subjective wellbeing around the time of the June 2016 EU membership Referendum in the UK (Brexit). We employ measures of ...Read more...

CVER Research Paper

A comparison of earnings related to higher level vocational/technical and academic education

Using rich administrative data for a full cohort of English secondary school leavers (2002/03 academic year), we compare earnings of people with higher vocational/technical qualifications to the earnings of degree holder...Read more...

Blog

CVER Blog:

Higher vocational education: An alternative to degrees?

A detailed picture of earnings effects of university degrees is emerging, but not much is known about the benefits of higher vocational education. A recent report by the IFS provides evidence on the extensive earnings b...Read more...

CEP discussion paper

Innovative events

We take a fresh look at firms? innovation-productivity linkages, using novel data capturing new aspects of innovative activity. We combine UK administrative microdata, media and website content to develop experimental me...Read more...

Journal article

European Journal of Political Economy:

Who voted for Brexit? Individual and regional data combined

Previous analyses of the 2016 Brexit referendum used region-level data or small samples based on polling data. The former might be subject to ecological fallacy and the latter might suffer from small-sample bias. We use ...Read more...

Journal article

Urban Studies:

Does the law of one price hold for hedonic prices?

Hedonic prices of locational attributes in urban land markets are determined by a process of spatial arbitrage that is similar to that which underpins the law of one price. If hedonic prices deviate from their spatial eq...Read more...

Journal article

The Economic Journal:

The time value of housing: historical evidence on discount rates

Most London housing transactions involve trading long leases of varying lengths. We exploit this to estimate the time value of housing ? the relationship between the price of a property and the term of ownership ? over a...Read more...

Journal article

ILR Review:

The impact of acquiring unrestricted work authorization on Romanian and Bulgarian migrants in the United Kingdom

When Romania and Bulgaria (the so-called A2 countries) joined the European Union in 2007, the United Kingdom imposed temporary restrictions on the employment and welfare entitlements of A2 citizens that lasted until Janu...Read more...

CVER Research Paper

Settling the counterfactual debate: Is there a preferable counterfactual when estimating the returns to vocational qualifications?

Using information from the Longitudinal Education Outcomes (LEO) data set, it is now possible to compare the characteristics and estimates for learners with different qualifications encompassing both types of counterfact...Read more...

Journal article

The Economic Journal:

The distribution of talent across contests

Do the contests with the largest prizes attract the most able contestants? To what extent do contestants avoid competition? We show that the distribution of abilities is crucial in determining contest choice. Complete so...Read more...

CentrePiece article

Brexit: the economics of international disintegration

Pro-Brexit rhetoric mixes up two distinct interpretations of what made people vote to Leave the European Union ? and they have very different policy implications. As Thomas Sampson explains, those voters wanting to recla...Read more...

CVER Briefing Note

Further analysis of the earnings differentials associated with BTECs

We analyse whether there is an earnings differential associated with having a BTEC qualification as a young person?s highest qualification. Previous analyses of wage differentials using survey data on a sample of all wor...Read more...

SERC/Urban and Spatial Programme Discussion Paper

Cohesion Policy Incentives for Collaborative Industrial Research. The Evaluation of a Smart Specialisation Forerunner Programme

This paper evaluates a program of subsidies for Collaborative Industrial Research (co-) funded by the EU Cohesion Policy in Italy mobilizing over 1 billion euros. This program anticipated in the 2007-2013 funding cycle s...Read more...

SERC/Urban and Spatial Programme Discussion Paper

One or Many Cohesion Policies of the European Union? On the Diverging Impacts of Cohesion Policy across Member States

Do regions in all Member States (MSs) of the European Union (EU) benefit from Cohesion Policy? Are regional impacts persistently diversified across countries? In order to answer these questions this paper explores how th...Read more...

CEP discussion paper

Economic integration, foreign investment and international trade: the effects of membership of the European Union

This paper investigates the importance of economic integration in simultaneously fostering foreign direct investment (FDI) and international trade. These have rarely been analyzed jointly using contemporary econometric m...Read more...

CVER Research Paper

The Payoff to Vocational Qualifications: Reconciling Estimates from Survey and Administrative Data

This paper takes as a starting point the wage/earnings differentials associated with vocational qualifications that have been estimated in the literature. Two distinct parts of that literature are identified, using surve...Read more...

CVER Research Paper

The earnings differentials associated with vocational education and training using the Longitudinal Education Outcomes data

For the first time, the matched Longitudinal Education Outcomes has been made available for analysis of qualification attainment and labour market outcomes in England. Using comprehensive information from different schoo...Read more...

Journal article

Economic Policy:

Who voted for Brexit? A comprehensive district-level analysis

On 23 June 2016, the British electorate voted to leave the European Union (EU). We analyse vote and turnout shares across 380 local authority areas in the United Kingdom. We find that exposure to the EU in terms of immig...Read more...

Journal article

Journal of Economic Perspectives:

Brexit: the economics of international disintegration

On June 23, 2016, the United Kingdom held a referendum on its membership in the European Union. Although most of Britain's establishment backed remaining in the European Union, 52 percent of voters disagreed and handed a...Read more...

Journal article

Economic Policy:

The costs and benefits of leaving the EU: trade effects

This paper estimates the welfare effects of Brexit in the medium to long run, focusing on trade and fiscal transfers.We use a standard quantitative general equilibrium trade model with many countries and sectors and trad...Read more...

CEP discussion paper

Brexit: the economics of international disintegration

This paper reviews the literature on the likely economic consequences of Brexit and considers the lessons of the Brexit vote for the future of European and global integration. Brexit will make the United Kingdom poorer b...Read more...

CEP discussion paper

The long-lasting effects of family and childhood on adult wellbeing: evidence from British cohort data

To what extent do childhood experiences continue to affect adult wellbeing over the life course? Previous work on this link has been carried out either at one particular adult age or for some average of adulthood. We her...Read more...

CEP election analysis

Brexit as Climate Policy: The Agenda on Energy and the Environment

The Great Recession and a sluggish economic recovery were instrumental in meeting the legally binding climate change targets that the UK has set for itself. But without more drastic policy interventions, it is unlikely t...Read more...

Journal article

Tijdschrift voor Economische en Sociale Geografie, Journal of Economic and Human Geography:

The geography of foreign investments in the EU neighbourhood

This paper aims at investigating the drivers of Multinational Enterprise (MNE) investment in countries linked to the `core? of the European Union (EU 15) by different degrees of functional, economic and political integra...Read more...

Journal article

The Economic Journal:

Longitudinal evidence for a midlife nadir in human well-being: results from four data sets

There is a large amount of cross-sectional evidence for a midlife low in the life cycle of human happiness and well-being (a `U shape?). Yet no genuinely longitudinal inquiry has uncovered evidence for a U-shaped pattern...Read more...

CEP discussion paper

Foreign direct investment and the relationship between the United Kingdom and the European Union

This paper investigates whether and to what extent foreign direct investment inflows into the United Kingdom are caused by its membership in the European Union (EU). It reports two main sets of econometric estimates: (a)...Read more...

CEP discussion paper

The loss of production work: evidence from quasi-experimental identification of labour demand functions

This paper examines changes in the structure of labour demand in plant-level panel data. I exploit variation in wages across local labour markets induced by the collapse of Finland?s Soviet-dependent industry in the earl...Read more...

SERC/Urban and Spatial Programme Discussion Paper

The Geography of City Liveliness and Land Use Configurations: Evidence from Location-Based Big Data in Beijing

This paper explores the complexity in the connection between city liveliness and land use configurations for housing and consumption amenities. The sources of this complexity are captured by an integrated spatial and tem...Read more...

CentrePiece article

In brief... Bargain hunters: calculating the benefits of consumer search

To what extent can shoppers convert the time they spend looking for particular products into monetary savings? The authors use electronic tags to study the behaviour of 12,000 consumers in a large supermarket in Northern...Read more...

CEP Brexit analysis

The impact of Brexit on foreign investment in the UK

The third in a series of Brexit reports from the Centre for Economic Performance (CEP), examines how leaving the EU would affect UK incomes through changes in foreign investment in the UK. Leaving the European Union (EU)...Read more...

CEP Brexit analysis

The consequences of Brexit for UK trade and living standards

The economic consequences of leaving the EU will depend on what policies the UK adopts following Brexit. But lower trade due to reduced integration with EU countries is likely to cost the UK economy far more than is gain...Read more...

CEP Brexit analysis

Life after Brexit : what are the UK?s options outside the European Union?

Suppose the UK votes to leave the European Union (EU): what happens next? This report outlines some of the options for the UK outside the EU and discusses the costs and benefits of each alternative....Read more...

Journal article

Journal of Political Economy:

Carbon taxes, path dependency, and directed technical change: evidence from the auto industry

Can directed technical change be used to combat climate change? We construct new firm-level panel data on auto industry innovation distinguishing between ?dirty? (internal combustion engine) and ?clean? (e.g., electric, ...Read more...

External report

Measuring competitiveness in Europe: resource allocation, granularity and trade:

The importance of micro data in assessing aggregate outcomes

In recent years, researchers and policymakers have been able to use sophisticated databases to provide insightful economic analysis. The increasing variety of available microeconomic databases and the improvement in the ...Read more...

CEP occasional paper

International data on measuring management practices

We examine methods used to survey firms on their management and organizational practices. We contrast the strengths and weaknesses of ?open ended questions? (like the World Management Survey) with ?closed questions? (lik...Read more...

Journal article

Review of Environmental Economics and Policy:

The impact of the European Union emissions trading scheme on regulated firms: what is the evidence after ten years?

This article reviews the recent literature on ex post evaluation of the impacts of the European Union (EU) Emissions Trading Scheme (ETS) on regulated firms in the industrial and power sectors. We summarize the findings ...Read more...

Journal article

Ecological Economics:

The greener, the happier? The effect of urban land use on residential well-being

We investigate the effect of urban land use on residential well-being in major German cities, using panel data from the German Socio-Economic Panel and cross-section data from the European Urban Atlas. We reduce concerns...Read more...

Journal article

The Economic Journal:

Immigration, housing discrimination and employment

We use a new data set on Italy and a novel identification strategy to analyse the relationship between migrants' employment status and the percentage of non-Italians living nearby. Our data contain information at the ver...Read more...

CEP discussion paper

Media, markets and institutional change: evidence from the protestant reformation

This research studies the role of competition in the diffusion of radical ideas and institutional change during the Protestant Reformation. We construct a new measure of religious content in the media using data on all k...Read more...

CEP election analysis

Should We Stay or Should We Go? The economic consequences of leaving the EU

We analyze the effects of Brexit on the UK economy. The most important economic consequence of Brexit would likely be reduced trade with EU countries. We consider an optimistic scenario with relatively small increases in...Read more...

CEP election analysis

Immigration and the UK Labour Market

During periods of strong economic growth, migration is and has always been important for filling gaps in the labour market. Perceptions do not seem to line up with the existing academic evidence. On balance, the evidence...Read more...

Journal article

Journal of International Economics:

Spatial exporters

In this paper, we provide causal evidence that firms serve new markets which are geographically close to their prior export destinations with a higher probability than standard gravity models predict. We quantify the imp...Read more...

SERC/Urban and Spatial Programme Discussion Paper

The Time Value of Housing: Historical Evidence from London Residential Leases

Most housing transactions in London involve trading long leases of varying lengths. We exploit this feature to estimate the time value of housing --- the relationship between the value of a property and the length of tim...Read more...

CEP occasional paper

Mapping information economy businesses with big data: findings for the UK

Governments around the world want to develop their ICT and digital industries. Policymakers thus need a clear sense of the size and characteristics of digital businesses, but this is hard to do with conventional datasets...Read more...

CEP discussion paper

European integration and the gains from trade

This chapter discusses whether and how .new quantitative trade models.(NQTMs) can be fruitfully applied to quantify the welfare effects of trade liberalization, thus shedding light on the trade-related effects of further...Read more...

CEP discussion paper

Consumer search: evidence from path-tracking data

We estimate the effect of consumer search on the price of the purchased product in a physical store environment. We implement the analysis using a unique data set obtained from radio frequency identification tags, which ...Read more...

CEP discussion paper

Benford's law, families of distributions and a test basis

Benford's Law is used to test for data irregularities. While novel, there are two weaknesses in the current methodology. First, test values used in practice are too conservative and the test values of this paper are more...Read more...

CEP policy analysis

Brexit or Fixit? The Trade and Welfare Effects of Leaving the European Union

Since a speech by the Prime Minister in January 2013 , the Conservative party has been committed to holding a referendum on the UK?s membership of the European Union (EU) in 2017. So this is a good moment to consider wha...Read more...

CEP policy analysis

Immigration, the European Union and the UK Labour Market

During periods of strong economic growth, migration is and has always been important for filling gaps in the labour market. On balance, the evidence for the UK labour market suggests that fears about adverse consequences...Read more...