Results

Blog

Vox EU:

The price of power: Why rising markups hurt innovation and widen inequality

Over the past four decades, the US has seen rising market power, slowing productivity growth, and deepening wealth inequality. This column explores how declining competition may be the common culprit. Weak competition le...Read more...

CEP discussion paper

Productivity, matchability and intermediation in production networks

This paper examines intermediation in production networks to unpack the firm attributes and matching costs that govern firm-to-firm networks and the gains from trade. Exploiting rich customs data for Chile, we show that ...Read more...

Blog

Academy of Social Sciences:

Policies to promote productivity and wage growth for less educated workers

In this piece, Professor Richard Blundell FAcSS, Professor Rachel Griffith FAcSS and Professor Sally McNally explore how improving educational outcomes for children growing up in deprivation, including social skills in t...Read more...

Blog

LSE Euro PP:

A new measure of quality of life explains why people like living in bigger cities

People like to live in certain places, even when higher wages are on offer elsewhere. Gabriel Ahlfeldt, Fabian Bald, Duncan Roth and Tobias Seidel show that once you take into account people's preferences, large cities o...Read more...

Blog

LSE Impact of Social Sciences:

The next innovation revolution should be democratisation

Innovators are most likely to be men from privileged backgrounds. Xavier Jaravel argues that democratisation and widening of access to innovative careers worldwide is key to boosting long-term growth and addressing today...Read more...

CentrePiece article

Revving up wages: How rising productivity has benefited car industry workers

Fast productivity growth in the UK car industry led to staff in the sector earning about 37% more than the average manufacturing employee by the 2010s. But Andreas Teichgraeber and Tim Obermeier show that while wages wen...Read more...

Blog

Vox EU:

Technology spillovers, diffusion, and rivalry in firm networks

Quantifying technology adoption, spillovers, and diffusion across firms is crucial for understanding industry dynamics, and in turn countries' growth. This column combines firm-level input-output VAT data from Turkey wit...Read more...

Blog

Project Syndicate:

What AI Means for Growth and Jobs

While many commentators warn that AI will undermine employment and offer only modest productivity gains, empirical studies continue to suggest otherwise. With the right policies in place, the technology holds immense pot...Read more...

Journal article

Journal of Environmental Economics and Management: Forthcoming

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...

Blog

Vox EU:

Redirecting AI: Privacy regulation and the future of artificial intelligence

Some artificial intelligence technologies are more data intensive than others. This column examines how data privacy regulation shaped the trajectory of AI innovation across countries, looking at patent applications from...Read more...

Journal article

Journal of Political Economy:

College Attrition and the Dynamics of Information Revelation

We examine how informational frictions impact schooling and work outcomes by estimating a dynamic structural model where individuals face uncertainty about their academic ability and productivity, which determine their s...Read more...

Blog

Economics Observatory:

Do cities and regions gain from public sector relocation?

Moving public agencies out of London was a major plank of the levelling-up agenda. The effects on local economies seem smaller than hoped - and it's important to compare them with those of other tools of regional policy:...Read more...

Blog

Vox EU:

High moments for superstar exporters

Aggregate exports are highly concentrated in a small group of firms, which are generally more productive than other firms. This column shows that productivity shocks generate different responses of aggregate exports depe...Read more...

CEP occasional paper

The high price of doing nothing: evaluating an expansion of employment support for health-related inactivity

Employment support for those with mild-to-moderate health conditions is estimated to deliver large benefits to the individual and government finances, paying for itself within 5 years. This suggests enabling inactive ind...Read more...

CEP discussion paper

Measuring quality of life under spatial frictions

Using a quantitative spatial model as a data-generating process, we explore how spatial frictions affect the measurement of quality of life. We find that under a canonical parameterization, mobility frictions - generated...Read more...

CEP discussion paper

Only human? Immigration and firm productivity in Britain

This paper estimates the impact of migration on productivity by estimating production functions for British firms. We find that much of the apparent higher productivity of migrants is the result of sorting across areas, ...Read more...

Blog

Economics that really matters:

Shared costs, Shared Gains: Experimental Evidence from Female Export Consortia

This is our eighth blog post for our Job Market Paper Series blog for 2024-2025. Florian Anselm Munch is a postdoc at the London School of Economics. His research focuses on technology adoption and innovation, and export...Read more...

Submission to a parliamentary inquiry and government consultation

Invest 2035: the UK's modern industrial strategy

This document presents the submission made in response to the consultation on "Invest 2035: the UK's modern industrial strategy." The consultation was conducted by the Department for Business and Trade from 14 October 20...Read more...

Journal article

International Economic Review:

Last but not least: Laggard Firms, Technology Diffusion, and its Structural and Policy Determinants

Using a unique microaggregated data set on firm-level productivity in 13 countries from 1995 to 2014, this article provides new evidence on technology- and knowledge-diffusion barriers for laggard firms. We show that, al...Read more...

Blog

LSE Business Review:

The productivity boom in the British car industry benefited workers, with a caveat

Productivity growth can play an important role in raising wages. The UK car industry experienced fast productivity growth over the past 40 years, and by the 2010s car workers were earning about 37 per cent more than the ...Read more...

Blog

LSE Review:

It's time to debunk the belief that tech natives are more valuable

The generational tech divide is narrowing. Daniel Jolles and Grace Lordan surveyed more than 1,400 UK and US professionals and write that the ability to manage your attention and minimise task-switching is more important...Read more...

Blog

Vox EU:

Distance from innovation is a barrier to the adoption of artificial intelligence

While distance may seem unimportant in the face of technological progress in transportation and communication, several studies have found that distance is a barrier to the diffusion of inventive activity and technology a...Read more...

Blog

The local economic development podcast:

Spatial rebalancing with Henry Overman - Econ 101 for local growth

Can 'Economics 101' and radical incrementalism reshape local economic development? David and Mike explore this and more with Professor Henry Overman. Tune in for a deep dive into practical economic strategies and their i...Read more...

CentrePiece article

AI and climate action: how UK firms are responding

Are businesses in the UK embracing artificial intelligence? And what are they doing to meet net-zero targets? Juliana Oliveira-Cunha, Bruno Serra-Lorenzo and Anna Valero report on how employers believe the two big upheav...Read more...

CEP discussion paper

Not incentivized yet efficient: Working from home in the public sector

This paper studies whether working from home (WFH) affects workers’ performance in public sector jobs. Studying public sector initiatives allows us to establish baseline estimates on the impact of WFH net of incentives...Read more...

Blog

LSE Business Review:

Economic growth requires breaking the cycle of poor work and ill health

Work is an important part of our lives and crucial to wellbeing. But "good" work that offers security and autonomy is unevenly distributed. Workers in lower-paid jobs often find themselves trapped in "bad" jobs, characte...Read more...

Blog

Vox EU:

Global environmental cooperation and innovation

In the ongoing debate on climate change, one of the most pressing challenges is fostering effective international cooperation. This column examines the success of the 1987 'Montreal Protocol' in phasing out harmful chlor...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...

Blog

IMF Finance and Development magazine:

A fivefold increase in remote work since the pandemic could boost economic growth and bring wider benefits

Economics is famous for being the dismal science. Sadly, recent work highlighting the slowdown in productivity growth stretching back to the 1950s is no exception. But here Nicholas Bloom takes a more cheerful view becau...Read more...

Journal article

Journal of Economic Geography:

On the productivity advantage of cities

Agglomeration externalities are the key factor explaining the existence of cities and their size. However, while the various micro foundations of agglomeration externalities stress the importance of total factor producti...Read more...

Journal article

Journal of the Association of Environmental and Resource Economists,:

Management Practices and Climate Policy in China

We investigate how management quality moderates the impact of carbon pricing on Chinese firms. Based on interviews with managers and lead engineers at manufacturing firms in Hubei and Beijing, we construct a novel index ...Read more...

Blog

Vox EU:

The speed of firm response to inflation

Firm inflation expectations are a key driver of future price growth. This column uses a large economy-wide business survey to understand the response of firms to monthly CPI inflation releases in the UK. Firms' CPI infla...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

Journal of Public Economics: Forthcoming

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...

CEP discussion paper

Production function estimation using subjective expectations data

Standard methods for estimating production functions in the Olley and Pakes (1996) tradition require assumptions on input choices. We introduce a new method that exploits (increasingly available) data on a firm's expecta...Read more...

Blog

What works Centre for Local Economic Growth:

Why the new government needs to be clearheaded on local growth

There are lots of local disparities in the UK. Health, education, levels of crime, employment rates and more diverge significantly across places. These disparities came into focus at the time of the 2019 election, where ...Read more...

Blog

Vox EU:

The effect of productivity growth on within-firm inequality

Wage inequality has increased dramatically in the US since the 1970s, largely driven by within-firm earnings inequality. This column uses combined data from three large micro datasets to study the drivers and implication...Read more...

Blog

LSE Business Review:

What an LSE-CBI survey found about AI adoption in UK firms

The crises and changes of the 2020s have provided many challenges for UK firms, and these occurred against a background of stagnant productivity since the financial crisis. But crises can also force productivity-enhancin...Read more...

Journal article

Oxford Economic Papers: Forthcoming

Trends in effort at work in the UK

This article links detailed 24-h diary surveys in the UK for the last four decades, to provide evidence of an increase in work effort in three specific dimensions: timing, nature, and composition. We rule out certain pro...Read more...

CEP election analysis

Spatial disparities in productivity and income

This briefing looks at the causes and consequences of UK spatial disparities and what, if anything, policy can do to address them....Read more...

CentrePiece article

in brief... Could a new policy institution help solve the UK’s productivity problem?

Comparatively sluggish productivity growth is one of the UK’s biggest policy challenges. Past strategies to solve the problem have lacked both sustained commitment and proper evaluation. Anna Valero and Bart van Ark call...Read more...

Blog

What Works Centre for Local Economic Growth:

Spatial disparities in productivity are central to the future of levelling up

In the run-up to the election, our colleagues at the Centre for Economic Performance (CEP) are running a series of election analysis articles, where world-leading economists give their take on the state of different area...Read more...

CEP discussion paper

Disaster management

Climate change is making natural disasters more frequent, yet little is known about the capacity of firms to withstand such disasters and adapt to their increased frequency. We examine this issue using the latest wave of...Read more...

Blog

LSE Politics and Policy:

How to grow the UK's dwindling productivity

The UK economy is stuck. GDP growth per person has been anaemic over the last 14 years, and last year it actually fell. The cause behind these concerning figures is the collapse in the growth of productivity. If the next...Read more...

CEP election analysis

Growth and productivity

The collapse in productivity growth underlies many of the problems of the UK economy – from squeezed public services to stagnant living standards. Productivity growth in the UK has been weak relative to its own past and...Read more...

Blog

IFS Zooms In (podcast):

Election 2024: How to grow the economy (podcast)

After years of sluggish growth and flatlining productivity, a rare political consensus has emerged that growing the economy is one of the key priorities of the next government. With an election on the way, we're bound to...Read more...

Journal article

The Review of Economics and Statistics:

The Heterogeneous Impact of Market Size on Innovation: Evidence from French Firm-Level Exports

We analyze how demand conditions faced by a firm in its export markets affect its innovation decisions. We exploit exogenous firm-level export demand shocks and find that firms respond by patenting more; furthermore, thi...Read more...

Journal article

American Economic Journal: Economic Policy:

Opposing Firm-Level Responses to the China Shock: Output Competition versus Input Supply

We decompose the "China shock" into two components that induce different adjustments for firms exposed to Chinese exports: an output shock affecting firms selling goods that compete with similar imported Chinese goods, a...Read more...

CEP discussion paper

Accounting for the evolution of China's production and trade patterns

This paper studies the evolution of China's production and trade patterns during its integration into the global economy. We document and explain new facts concerning changes in production and exports at the industry and...Read more...

Journal article

The Economic Journal:

Taking Back Control? Quasi-Experimental Evidence on the Impact of Retirement on Locus of Control

We use Australian panel data to examine the impact of retirement on individual locus of control, a socio-emotional skill with substantial explanatory power for a broad range of life outcomes. Exploiting the eligibility a...Read more...

Blog

Vox EU:

The impact of higher interest rates on UK firms

Firms across many advanced economies have faced a significant increase in the interest rates paid on borrowing and received on deposits since 2021. Krishan Shah, Nick Bloom, Philip Bunn, Paul Mizen, Gregory Thwaites and ...Read more...

Blog

INSEAD Knowledge:

Consumers' green conscience fosters clean innovation

Alexandra Roulet and Philippe Aghion explain how consumers' green conscience can foster clean innovation and provide tips for how companies can reach green goals in a highly competitive market....Read more...

External publication

Labour Economics: Thinking through Labour's economic agenda

With the Labour Party having vowed to achieve the fastest growth in the G7, the Social Market Foundation has brought together leading economic experts to provide independent analysis of the party's proposed approach - an...Read more...

CEP discussion paper

Leaving the global playing field through optimal non-discriminatory corporate taxes and subsidies

Due to markup distortions, in international trade models with monopolistic competition and heterogeneous firms the market equilibrium is inefficient unless demand exhibits constant elasticity of substitution. When it doe...Read more...

Journal article

Research Policy:

The great divergence(s)

This paper provides new evidence on the increasing dispersion in wages and productivity using a unique micro-aggregated firm-level data source, representative for the full population of firms in 12 countries. First, we d...Read more...

Blog

LSE British Politics and Policy:

Mais lecture - a serious approach for sustainable and inclusive growth

In her Mais lecture, the Shadow Chancellor diagnosed the UK's problems of economic stagnation, persistent inequality and the instability that geopolitical shocks and climate change bring. Anna Valero outlines what a solu...Read more...

Blog

LSE USAPP:

Book Review: Innovation for the Masses: How to Share the Benefits of the High-Tech Economy by Neil Lee

In 'Innovation for the Masses: How to Share the Benefits of the High-Tech Economy' Neil Lee proposes abandoning the Silicon Valley-style innovation hub, which concentrates its wealth, for alternative, more equitable mode...Read more...

CEP discussion paper

Under pressure: Victim withdrawal and police officer workload

This paper addresses the relationship between a police officer's workload and the likelihood of statement withdrawal of domestic abuse victims. We focus our analysis on high-risk cases reported to Greater Manchester Poli...Read more...

Blog

Project Syndicate:

Should Workers Fear AI?

While hand-wringing about AI's implications for work and labour markets is understandable, economic history and current data make clear that the most common fears are largely overblown. Current applications are nowhere n...Read more...

Blog

Vox EU:

Employment dynamics across firms during COVID-19: The role of job retention schemes

Governments around the world implemented widespread business support during the COVID-19 pandemic. The measures may have affected employment dynamics and reallocation, with potential consequences for aggregate productivi...Read more...

Journal article

Management Science:

Does Employee Happiness Have an Impact on Productivity?

This paper provides evidence from a natural experiment on the relationship between positive affect and productivity. We link highly detailed administrative data on the behaviors and performance of all telesales workers a...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...

Blog

Resolution Foundation:

Investing in Britain's future - An economic strategy for Britain (video)

Investing too little for one year is manageable, but doing so year after year is a recipe for relative decline. This is precisely what the UK has been doing and where it finds itself. Anna Valero and James Smith discuss ...Read more...

External publication

Old Skills, New Skills - what is changing in the UK labour market?

The UK, along with other industrial countries, is experiencing rapid technological change associated with robotics and artificial intelligence, precipitating significant transformations in terms of how work is organised,...Read more...

CentrePiece article

Do large firms generate positive productivity spillovers?

The potentially negative effects of market concentration on consumers and workers has received much attention, but Mary Amiti, Cédric Duprez, Jozef Konings and John Van Reenen find that big firms can also promote product...Read more...

CentrePiece article

Ending stagnation

What can be done to address Britain’s relative economic decline over the past decade and a half? The final report of the Economy 2030 Inquiry presents an ambitious strategy for reversing decades of under-investment, by t...Read more...

Blog

Vox EU:

Managers say working from home is here to stay

Krishan Shah, Nicholas Bloom, Philip Bunn, Paul Mizen, Gregory Thwaites, and Ivan Yotzov analyse new firm-level data to explore future remote work trends. Managers expect 2028 remote work levels to mirror those of 2023, ...Read more...

Blog

Vox EU:

Sleeping our way to being productive

Sleep is key to our physical and mental health. It also affects people's employment and productivity. Joan Costa-i-Font, Sarah Fleche and Ricardo Pagan explore how the amount of weekly sleep influences employment, produc...Read more...

Blog

What Works Centre for Local Economic Growth:

Lessons for business support schemes from a large RCT in the UK

Productivity in the UK is stagnant and improving firm performance a key policy objective. Almost a decade ago, the UK government undertook an ambitious randomised control trial - the Growth Vouchers Programme - which pro...Read more...

Blog

LSE Business Review:

Generational diversity is on the rise, and those embracing it are gaining a competitive edge

Major firms are experiencing a widening gap between their youngest and oldest employees. Daniel Jolles and Grace Lordan write that frictions which undermine the potential productivity benefits of generational diversity a...Read more...

CEP Insights

Insights: condensed

The Insights series is an introduction to the work of the Centre for Economic Performance (CEP). Each Insight highlights the contribution of CEP researchers to both academic understanding and policymaking in one area of ...Read more...

CEP discussion paper

Firms in product space: Adoption, growth and competition

Which products are potentially produced together? When demand for a product increases, which firms will supply it? Using multi-product production patterns within and across firms, we recover a continuous cost based dista...Read more...

Blog

LSE British Politics and Policy:

A novel way to estimate car longevity shows that electric vehicles' life mileage is increasing fast

A car's longevity is important for consumers' budgets as well as for the environment. But reliable evidence on the longevity of electric vehicles is hard to come by. Viet Nguyen-Tien and Robert Elliot, with fellow author...Read more...

Journal article

Journal of Labor Economics: Forthcoming

Technological Change and Domestic Outsourcing

Domestic outsourcing has grown substantially in developed countries over the past two decades. This paper addresses the question of the technological drivers of this phenomenon by studying the impact of the staggered dif...Read more...

Journal article

Journal of the European Economic Association:

Come Together: Firm boundaries and delegation

We jointly study firm boundaries and the allocation of decision rights within them by confronting an incomplete-contracts model with data on vertical integration and delegation for thousands of firms around the world. In...Read more...

Journal article

American Economic Journal: Economic Policy :

Local Retail Prices, Product Variety, and Neighborhood Change

We study how local grocery markets within a city are affected by changes in housing markets. Our empirical strategy exploits a shift in the spatial distribution of construction activity induced by a large-scale, place-ba...Read more...

External publication

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...

CEP discussion paper

Does subsidising business advice improve firm performance? Evidence from a large RCT

We evaluate the impact of the UK's Growth Vouchers Programme, which offered subsidised business advice to 15,207 randomly selected small and medium size enterprises. Using administrative and survey data, we show that the...Read more...

Blog

Economics Observatory:

The UK's productivity gap: what did it look like twenty years ago?

How to boost UK productivity growth has long been a central concern of economic researchers and policymakers. A report written twenty years ago by Romesh Vaitilingam highlights the continuing challenges of achieving that...Read more...

CEP discussion paper

Labour market power: New evidence on Non-Compete Agreements and the effects of M&A in the UK

Monopsony power is an important feature of modern labour markets. We examine its impact on workers. We report the first representative survey of Non-Compete-Agreements (NCA) in the UK and find that about 26% of workers a...Read more...

Blog

Economics Observatory:

Could a new policy institution help solve the UK's productivity problem?

Comparatively sluggish productivity growth is one of the UK's biggest policy challenges. Past strategies to solve the problem have lacked commitment and proper evaluation. One solution could be to establish a growth and ...Read more...

CEP discussion paper

Global managers, local workers: Wage setting inside a multinational firm

How are wages set within a multinational firm? Combining cross-country data on wages and labor regulations with personnel records of a large multinational firm, I find that wage setting depends on the rank of the employe...Read more...

Blog

LSE Research for the World:

The UK's relative decline has gone on long enough, it's time for a new economic strategy

The British economy is stagnating, but this doesn't have to be terminal, argue Torsten Bell and Stephen Machin, who set out The Economy 2030 Inquiry's roadmap to a new prosperity....Read more...

CEP report

Boosting growth and productivity in the United Kingdom through investments in the sustainable economy

It is now widely accepted that the UK has a major productivity growth problem, with chronic underinvestment across both the public and private sectors being a key cause. Continued low public investment, as laid out in th...Read more...

Blog

LSE Business Review:

Why women say hybrid working enhances productivity, while men don't

There is a complex interplay between gender, remote work and productivity. Nikita, Anna Lane, Grace Lordan and Paul Middleton conducted a survey of more than 1000 employees in financial and professional services in the U...Read more...

Blog

Economics Observatory:

Boosting productivity: why doesn't the UK invest enough?

The UK economy has long suffered from chronic levels of underinvestment. Many factors explain the failure to invest enough. One recurring theme is short-term thinking - by managers who don't invest in projects with long-...Read more...

Blog

LSE Business Review:

The three biggest workplace anxieties of 2023

What can leaders do to calm workplace anxieties and get the best out of their teams in 2024? Jazzy Jasiulek, Daniel Jolles, Nikita, and Grace Lordan asked over 1,400 professionals about their top anxieties and share how ...Read more...

External publication

Ending stagnation

The UK has great strengths, but is a decade and a half into a period of stagnation. The toxic combination of slow growth and high inequality was straining the living standards of low- and middle-income Britain well befor...Read more...

Journal article

Journal of Development Economics:

The deforestation effects of trade and agricultural productivity in Brazil

This paper quantifies the relative footprint of trade and agricultural productivity on deforestation across Brazilian municipalities between 2000 and 2017. Using remote-sensing data, we identify distinct effects of these...Read more...

CEP discussion paper

Rethinking revealed comparative advantage with micro and macro data

The Balassa's index of revealed comparative advantage does not necessarily reveal Ricardian comparative advantage. We propose an alternative sufficient statistics approach based on a quantitative standard trade model inc...Read more...

CEP discussion paper

Urban-biased structural change

Using firm-level data from France, we document that the shift of economic activity from manufacturing to services over the last few decades has been urban-biased: structural change has been more pronounced in areas with ...Read more...

CEP report

A new UK policy institution for growth and productivity: A blueprint

The UK has experienced 15 years of poor productivity performance relative to its own past and relative to its peers. Analysis of the UK's productivity problem points towards many contributing factors, discussed in this v...Read more...

CEP report

Cracking the Productivity Code: An international comparison of UK productivity

We examine the growth and level of UK productivity compared to France, Germany and the US. There has been a marked slowdown in labour productivity growth: comparing the dozen years before vs. after the Global Financial C...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...

Journal article

Journal of Health Economics: Forthcoming

The labour market returns to sleep

Despite the growing prevalence of insufficient sleep among individuals, we still know little about the labour market return to sleep. To address this gap, we use longitudinal data from Germany and leverage exogenous fluc...Read more...

Blog

LSE Business Review:

Joining multinationals' supply chains can benefit domestic firms' performance

Developing countries compete to attract multinationals to induce development. Becoming suppliers to multinationals could improve domestic firms' technology and managerial practices, and the host country's economy could b...Read more...

Journal article

IPPR Progressive Review:

Embedding green industrial policy in a growth strategy for the UK

In this article, we consider the role of a modern industrial strategy - coordinating a range of `industrial policies' - in shaping such an approach. How can the UK, an open and service-based economy with a small domestic...Read more...

Blog

Productivity Puzzles:

Why does the UK do so well on the Global Innovation Index? (Podcast)

How do we measure innovation and compare it across countries? And how can it be that the UK is doing so well as an innovation nation, while we seem to be underperforming on productivity?...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...

Blog

Hoover Institution:

Work from Home and Productivity - A Conversation with Nick Bloom (Podcast)

Steven Davis and Nick Bloom discuss the big shift to work from home, what it means for productivity, why perceptions in this regard often differ between managers and workers, and why - on balance - the big shift is a ble...Read more...