Results

CEP discussion paper

A double-differences approach to inference in regression discontinuity designs with a discrete running variable

We present a new approach to nonparametric inference in regression discontinuity designs where the running variable is discrete and may have few support points. The approach is based on an intuitive and comparatively wea...Read more...

Journal article

The Economic Journal: Forthcoming

The Immigration Surplus Revisited

We extend the immigration surplus results of Borjas (1995). In a closed competitive constant-returns economy, we show that an influx of migrants (holding their skill mix fixed) must increase the total real income of nati...Read more...

Government consultation

Commons Treasury Committee

Anna Valero gave evidence to the committee as part of its Budget 2026 inquiry. The purpose of the session is to assess the UK's macroeconomic and fiscal position, and the key pressures on the Chancellor ahead of his firs...Read more...

CEP discussion paper

Organizing expertise with externalities: evidence from primary care

Many modern organizations use knowledge hierarchies, where frontline workers try to resolve tasks and pass those they cannot resolve to experts. But the implications of this organization of expertise are not well underst...Read more...

Journal article

International Economic Review:

Scientific isolation? The consequences of Trump's China initiative on Chinese research

The 2018 China Initiative by the Trump administration complicated procedures and reduced funding for US-China research collaborations. Using Scopus data, we analyze its impact on Chinese research. We find that it signifi...Read more...

Blog

Bloomberg Trumponomics (podcast):

Are We Being Priced Out of Happiness?

Americans are spending less time with friends, nights out are getting more expensive and even major sporting events are becoming harder to afford. Stephanie Flanders speaks with Bloomberg reporter Ben Steverman and econo...Read more...

Journal article

Organization Science:

The cybernetic teammate: a field experiment on generative AI and teamwork

We examine how artificial intelligence (AI) impacts three core pillars of collaboration?performance enhancement, expertise integration, and social engagement?through a preregistered field experiment with 791 professional...Read more...

CEP discussion paper

Should we stay or should we go? Firms? decision on services mode of supply

Services account for one-third of global trade, yet little is known about the impact of trade restrictions on services trade. To make progress in this area, it is crucial to understand through which modes services are tr...Read more...

Blog

Transform work:

Transform work with Raffaella Sadun, Professor of Business Administration at Harvard Business School (podcast)

Raffaella's work sits at the intersection of economics, leadership, and the future of work. Drawing on large-scale data and real-world field experiments inside major companies, she explores how hybrid work is reshaping l...Read more...

CEP discussion paper

Sticky gravity

International trade flows show strong persistence over time. Standard static gravity models cannot rationalize this persistence and lack a micro-foundation for including lagged trade flows as a determinant of current tra...Read more...

CEP discussion paper

The impact of price ceiling regulation: evidence from the retail gasoline market

We examine the short-run impact of price ceilings on retail gasoline prices in isolated oligopolistic markets, uniquely observing for which stations the regulation was binding and for which it was not. Leveraging daily p...Read more...

Blog

Vox EU:

Tall buildings lead to more compact and productive cities

Land-use regulations, including height limits, affect housing affordability and urban productivity. This column analyses over 11,000 urban agglomerations and 300,000 tall buildings to explore the effect of height restric...Read more...

CEP discussion paper

The lifecycle of judicial bias

How does judicial bias arise and persist in the legal system? We trace the lifecycle of judicial bias in India's criminal courts, leveraging the quasi-random assignment of judges to courts and cases. We first document su...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...

CEP discussion paper

Sustaining international rules in a multipolar world

We study the sustainability of international trading rules in a multipolar world. A rules-based equilibrium is shaped by three forces. A static temptation to exploit market power undermines cooperation, while two dynamic...Read more...

Journal article

Journal of the European Economic Association:

Innovation union: costs and benefits of innovation policy coordination

What is the scope for international cooperation in innovation policy in economies closely integrated via trade? We address this question by building a two-region innovation-driven growth model with endogenous technology ...Read more...

Blog

VoxEU:

Why inflation may respond faster to big shocks: The rise of state-dependent pricing

Macroeconomic models distinguish time-dependent pricing, where firms change prices at fixed intervals, from state-dependent pricing, where firms change prices in response to changing demand or costs. This column presents...Read more...

Journal article

Nature Human Behaviour:

Why single-item measures of wellbeing are best

We argue that individual wellbeing is best captured by single self-reports of one's overall quality of life. This approach is direct, efficient, globally comparable and distinguishes wellbeing from what might explain it....Read more...

Journal article

American Economic Journal: Economic Policy:

Sweeping up gangs: the effects of tough-on-crime policies from a network approach

Globally, gang proliferation is fought primarily through sweeps. This paper uses a difference-in-differences strategy to examine their causal impact on crime for arrested individuals and their peers. Analysis focuses on ...Read more...

CEP report

Road to recovery: Self-employed on the mend?

The eighth LSE-CEP survey of the self-employed shows weekly hours of the self-employed are now seeing some signs of recovery, compared with the last data collection in June 2023. The positive increase in work hours is tr...Read more...

Journal article

Transactions of the Institute of British Geographers:

Finding stars: mapping the geography of the world's scientific elites

This paper presents the first systematic city-level mapping of global scientific talent, analysing the top 200,000 star scientists across 3635 cities worldwide annually between 2019 and 2023. We use a novel Knowledge Gen...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...

CEP discussion paper

Equilibrium trade regimes: power- vs. rules-based

Members of the World Trade Organization are increasingly disregarding its rules, raising concerns about the future of the multilateral trading system. To analyze the sustainability of the rules-based trade regime, we dev...Read more...

CentrePiece article

Cultural exception?

Why book publishing contradicts conventional wisdom about competition....Read more...

Journal article

The Energy Journal:

Natural gas vehicles: consequences for fuel markets and the environment

Policies to adopt cleaner fuels have become increasingly important, but their impacts on incumbent fuel prices and resulting greenhouse gas emissions remain unclear. We use a panel dataset on weekly prices at the gas sta...Read more...

Journal article

Review of Economic Studies:

Temporal-difference estimation of dynamic discrete choice models

We study the use of Temporal-Difference learning for estimating the structural parameters in dynamic discrete choice models. Our algorithms are based on the conditional choice probability approach but use functional appr...Read more...

Chapter

Immigration, diversity and innovation in cities and regions

in A Research Agenda for Migration and Innovation

This chapter investigates the interplay between immigrant diversity and innovation, emphasizing the urban and regional dimensions where these effects are most pronounced. Cities and urban areas are pivotal to the generat...Read more...

Journal article

American Economic Review:

Monopsony and employer misoptimization explain why wages bunch at round numbers

We show that administrative hourly wage data exhibit considerable bunching at round numbers. We run two experiments randomizing wages around $0.10 and $1.00 to experimentally measure left-digit bias for identical tasks o...Read more...

Journal article

The Economic Journal:

Monopsony and the wage effects of migration

If labour markets are competitive, migration can only affect native wages via marginal products. But under imperfect competition, migration may also increase wage mark-downs ? if firms have greater monopsony power over m...Read more...

Journal article

Journal of Human Resources:

Fiscal and education spillovers from charter school expansion

Do charter schools drain resources and high-achieving peers from noncharter schools? We provide new evidence on the fiscal and educational consequences of charter expansion for noncharter students in Massachusetts, which...Read more...

CentrePiece article

Return innovation: how migration shapes diffusion of new technologies

Novel products, processes and technologies are important drivers of economic growth. Davide Coluccia and Gaia Dossi show how migrants from Britain to the United States in the late 19th and early 20th century not only too...Read more...

Journal article

Oxford Research Encyclopedia of Economics and Finance:

Returns to adult learning

A common starting point in understanding investments in learning is that people participate in education when the life-cycle returns to education outweigh its costs. Since people will reap the higher wages associated wit...Read more...

Blog

Vox EU:

Hiroshima: Resilience of city structure after the atomic bombing

Cities have faced a host of shocks throughout history, including earthquakes, hurricanes, coastal flooding, and storm surges, as well as wartime destruction, such as in the current Russia-Ukraine conflict. This column lo...Read more...

Blog

LSE Europp:

Cultural exception? Why regulating the book market contradicts conventional wisdom about competition

Fixing retail book prices is a common policy in Europe, but how does preventing competition affect booksellers and buyers? Christos Genakos, Lorien Sabatino and Tommaso Valletti find that when the ability to offer custom...Read more...

Blog

Financial Times:

How should central banks respond to US tariffs? (Podcast)

US tariffs have sent financial markets into a frenzy in recent weeks, but how much should central bankers be taking trade into account when setting monetary policy? To find out, Soumaya Keynes sits down with Bank of Engl...Read more...

CEP discussion paper

Willingness to pay for workplace amenities

We develop a revealed preference approach to measure the value of workplace amenities by analyzing how variation in non-wage job attributes affects excess mass in the earnings distribution at budget discontinuities. The ...Read more...

CEP discussion paper

Minimum wages and low wage workers: compliance as non-employment margin

This paper examines the impact of a substantial minimum wage increase in Uruguay - a middle-income developing economy - on wages and employment. Using administrative data and a difference-in-differences approach, we anal...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...

CEP discussion paper

Teaching happiness (economics) in your dismal-science courses

This paper discusses ideas for incorporating the study of happiness and other measures of self-reported or subjective well-being (SWB) into undergraduate economics courses. We begin by motivating why students of economic...Read more...

Journal article

American Economic Review:

Fighting climate change: international attitudes toward climate policies

This paper explores global perceptions and understanding of climate change and policies, examining factors that influence support for climate action and the impact of different types of information. We conduct large-scal...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...

CEP discussion paper

Cultural exception? The impact of price regulation on prices and variety in the market for books

Fixed book price (FBP) agreements are a form of resale price maintenance applied to books in various countries. FBP restricts retail price competition with the aim of promoting book production variety. Yet, despite its p...Read more...

Journal article

LSE Public Policy Review:

Explaining variation in child penalties: the role of gender norms and policies

This paper contributes to understanding global variation in child and marriage penalties by focusing on the role of patriarchal control, gender norms, and public policies. We introduce a new measure of gender norms, the ...Read more...

Journal article

Journal of Human Resources :

Where versus what: college value-added and returns to field of study in further education

We use administrative records on educational and labor market trajectories to estimate the value-added of English further education colleges in terms of educational and labor market outcomes and earnings returns to diffe...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...

Chapter

WELLBY

in Elgar Encyclopedia of Behavioural and Experimental Economics

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

CEP discussion paper

Paper tiger? Chinese science and home bias in citations

We investigate the phenomenon of home bias in scientific citations, where researchers disproportionately cite work from their own country. We develop a benchmark for expected citations based on the relative size of count...Read more...

Blog

Vox EU:

Distributional consumer price indices and the measurement of inequality

Differences in consumption patterns between lower- and higher-income households suggest the potential for inflation inequality, but evidence on the scale and drivers of this disparity remains scarce. This column uses 'di...Read more...

CEP discussion paper

Return innovation: the knowledge spillovers of the British migration to the United States, 1870-1940

This paper documents that out-migration promotes the diffusion of innovation from the country of destination to the country of origin of migrants. Between 1870 and 1940, nearly four million British immigrants settled in ...Read more...

Journal article

Industrial and Corporate Change:

More or the same? Radical, disruptive, discontinuous, and breakthrough innovation

This paper addresses the conceptual ambiguity in the literature on exceptional innovations, labeled ?radical,? ?disruptive,? ?breakthrough,? or ?discontinuous.? A bibliometric analysis of 4407 articles shows that differe...Read more...

Journal article

American Economic Review:

Five facts about MPCs: evidence from a randomized experiment

We present five facts from an experiment on the marginal propensity to consume (MPC) out of transitory transfers: (1) the one-month MPC on a cash-like transfer is 23 percent; (2) it is substantially higher (61 percent) o...Read more...

Journal article

Research Policy:

Who stands on the shoulders of Chinese (scientific) giants? Evidence from chemistry

China?s rise in science has the potential to push forward the knowledge frontier, but mere production of knowledge does not guarantee that others are able to build on it. We ask whether chemistry research originating fro...Read more...

Blog

Vox EU:

Leveraging AI to navigate 'deglobalisation'

Trade wars, industrial policy, and myriad other supply chain disruptions have fast become the 'new normal'. Yet, given the highly opaque and complex nature of production processes, knowing how to navigate this rise of de...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...

Chapter

Crime and the labor market

in Handbook of Labor Economics

The economics of crime has emerged as a critical field over the past 30 years, with economists increasingly exploring the causes and consequences of criminal behavior. This chapter surveys key contributions and developme...Read more...

Journal article

Oxford Review of Economic Policy:

Ethnic minority and migrant pay gaps over the life-cycle

It is well-known that ethnic minority and migrant workers have lower average pay than the White UK-born workforce. However, we know much less about how these gaps vary over the life-cycle because of data limitations. We ...Read more...

Blog

Vox EU:

Design-based fiscal stimulus transfers: Evidence and macro implications

In recent years, and during Covid-19 in particular, many countries have experimented with innovative approaches to fiscal stimulus. This column reports on an experiment in France in which individuals were given a debit c...Read more...

CEP discussion paper

Transitional costs and the decline in coal: worker-level evidence

Workers' outside options play a central role in determining the transitional costs of labor demand shocks. Using comprehensive administrative data, we examine the worker-level effects of the decline of coal - a regionall...Read more...

CEP discussion paper

Crime and the labor market

The economics of crime has emerged as a critical field over the past 30 years, with economists increasingly exploring the causes and consequences of criminal behavior. This chapter surveys key contributions and developme...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...

Journal article

American Economic Journal: Macroeconomics:

International friends and enemies

We examine whether, as countries become more economically dependent on a trade partner, they realign politically toward that trade partner. We use network measures of economic exposure to foreign productivity growth deri...Read more...

Blog

Vox EU:

Closing the health gap: How chronic illness drives health inequality early on

Though health disparities have long been the subject of research and debate, life expectancy gaps between rich and poor remain striking, even in countries with universal access to healthcare. This column analyses the roo...Read more...

CEP discussion paper

Valuing consumption services as technology transforms accessibility: Evidence from Beijing

Home delivery reduced the value of cities as locations to access variety in durable consumption goods. Food delivery services (FDS) are doing the same for restaurants. Home-streaming of sports or home-delivered restauran...Read more...

Blog

Vox Talks (podcast):

The economics of strategy (podcast)

Organisations don't just provide employment: they solve, or attempt to solve, important problems in our society. Organizational economics has made some impressive strides in recent years to show what choices organisation...Read more...

Journal article

Journal of Economic Literature:

Temporary employment in markets with frictions

Temporary employment has spiked in OECD countries over the last 40 years and is now a common feature of their labor market landscape. A large body of empirical literature examines the spread of temporary employment, but ...Read more...

Journal article

Journal of Urban Economics:

Cities and the sea level

Construction on low elevation coastal zones is risky for both residents and taxpayers who bail them out. To investigate this construction, we analyze spatially disaggregated data covering the entire US Atlantic and Gulf ...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...

Blog

The Rest is Money (podcast):

Bank of England Economist: Interest rates must be cut (podcast)

Economist and external member of the Bank of England's Monetary Policy Committee, Swati Dhingra talks to Robert and Steph about why she thinks the time has come to lower Bank Rate, the interest rate set by the Bank of En...Read more...

Journal article

The Economic Journal:

Personnel management and school productivity: evidence from India

This paper uses new data to study school management and productivity in India. We report five main results. First, management quality in public schools is low, and -2 standard deviations below high-income countries with ...Read more...

Journal article

Critical Sociology:

A popular backlash against globalization?

Is there a popular backlash against globalization? When did it start and in which forms? What do we know about its causes? We address these questions in the context of advanced democracies. We see the `globalization back...Read more...

Journal article

AEA Papers and Proceedings:

The changing nature of pollution, income, and environmental inequality in the United States

This paper uses tax records linked to administrative Census data and high-resolution measures of air pollution exposure (PM2.5) to study the evolution of the Black-White pollution exposure gap since 1984. We decompose ch...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

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

Annual Review of Economics:

Industrial policy and the great divergence

We discuss recent work evaluating the role of the government in shaping the economy during the long nineteenth century, a practice we refer to as industrial policy. States deployed a vast variety of different policies ai...Read more...

Journal article

American Economic Journal: Applied Economics:

Measuring absolute income mobility: lessons from North America and Europe

We use linked parent-child administrative data for five countries in North America and Europe, as well as detailed survey data for two more, to investigate methodological challenges in the estimation of absolute income m...Read more...

Journal article

Journal of the European Economic Association :

Formation of college plans: expected returns, preferences and adjustment process

We exploit a large exogenous shock to study the formation, and updating, of educational plans, and to examine how these plans ultimately impact later educational attainment. Using novel, longitudinal, microdata on cohort...Read more...

Journal article

The Economic Journal:

Immigration, female labour supply and local cultural norms

We study the local evolution of female labour supply and cultural norms in West Germany in reaction to the sudden presence of East Germans who migrated to the West after reunification. These migrants grew up with high ra...Read more...

Journal article

The Economic Journal:

Commuting for crime

People care about crime, with the spatial distribution of both actual and perceived crime affecting the amenities from living in different areas and residential decisions. The literature finds that crime tends to happen ...Read more...

CentrePiece article

How much is your time worth?

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

Journal article

Journal of Economic Behavior & Organization:

House price expectations

This study examines short-, medium-, and long-run price expectations in housing markets. At the heart of our analysis is the combination of data from a tailored in-person household survey, past sale offerings, satellite ...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

The Quarterly Journal of Economics:

Measuring growth in consumer welfare with income-dependent preferences: nonparametric methods and estimates for the United States

How should we measure changes in consumer welfare given observed data on prices and expenditures? This article proposes a nonparametric approach that holds under arbitrary preferences that may depend on observable consum...Read more...

CEP discussion paper

Estimating the longevity of electric vehicles: what do 300 million MOT test results tell us?

Knowing how long the average vehicle remains roadworthy before being scrapped is a crucial input into life cycle assessment (LCA) and total cost of ownership (TCO) studies of different vehicle powertrains. This study lev...Read more...

Journal article

PLoS ONE :

Access to digital finance: Equity crowdfunding across countries and platforms

Financing entrepreneurship spurs innovation and economic growth. Digital financial platforms that crowdfund equity for entrepreneurs have emerged globally, yet they remain poorly understood. We model equity crowdfunding ...Read more...

Blog

LSE Impact:

Dashboards have the power to make complex research accessible to the public and policymakers

While researchers often point to the relevance of their research, economic models and econometric methods are typically inaccessible to a wider audience. Gabriel Ahlfeldt explains how interactive dashboards represent a u...Read more...

Journal article

AEA Papers and Proceedings:

Parenthood and academic career trajectories

Women continue to be underrepresented in the field of economics, especially among permanent faculty. As parenthood is an important driver of gender inequality in the labor market, we study the impact of children on the a...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...

Journal article

Research in Labor Economics:

Effort at work and worker well-being

This chapter analyzes detailed 24-hour diary data from the United States to provide evidence on the relationship between workers? effort and well-being while at work. In doing so, we first measure workers? effort in term...Read more...

CEP occasional paper

A micro-geographic house price index for England and Wales

We generate a mix-adjusted house price index for England and Wales from 2010 to 2020 at the level of lower-layer super output areas. To this end, we blend parametric and non-parametric estimation techniques and leverage ...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...

Journal article

American Economic Review :

The impact of regulation on innovation

We present a framework that can be used to assess the equilibrium impact of regulation on endogenous innovation with heterogeneous firms. We implement this model using French firm-level panel data, where there is a sharp...Read more...

CEP discussion paper

Regional productivity differences in the UK and France: from the micro to the macro

We propose a new data resource that attempts to overcome limitations of standard firm-level datasets for the UK (like the ARD/ABS) by building on administrative data covering the population of UK firms with at least one ...Read more...

CEP discussion paper

Industrial policy and the great divergence

We discuss recent work evaluating the role of the government in shaping the economy during the long 19th century, a practice we refer to as industrial policy. We show that states deployed a vast variety of different poli...Read more...

Journal article

Journal of Economic Perspectives:

The evolution of work from home

Full days worked at home account for 28 percent of paid workdays among Americans 20?64 years old, as of mid-2023. That's about four times the 2019 rate and ten times the rate in the mid-1990s. We first explain why the bi...Read more...

CEP Covid-19 analysis

The self-employment trap?

The seventh LSE-CEP survey of the self-employed was undertaken in June 2023. The results revealed that the self-employed are still in the doldrums and their incomes and activity have not resumed to pre-pandemic levels. T...Read more...

Government consultation

Bank of England Monetary Policy Reports

The Bank of England publishes a Monetary Policy Report four times a year. After publication, the Treasury Committee holds sessions with the Governor of the Bank of England and members of the Monetary Policy Committee to ...Read more...

Journal article

Management Science:

Information spillovers in experience goods competition

Trialing an experience good allows consumers to learn their value for the sampled good and also informs beliefs about their value for similar products. These demand-side information spillovers across products create a re...Read more...

Journal article

The Economic Journal:

Unraveling firms: demand, productivity and markups heterogeneity

We develop a novel framework that simultaneously allows recovering heterogeneity in demand, quantity TFP and markups across firms while leaving the correlation between the three dimensions unrestricted. We accomplish thi...Read more...

CEP discussion paper

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

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

CEP discussion paper

Dissecting the sinews of power: international trade and the rise of Britain's fiscal-military state, 1689-1823

We evaluate the role of taxes on trade in the development of imperial Britain's fiscal-military state. Influential work, e.g., Brewer's (1989) Sinews of Power, attributed increased fiscal capacity to the taxation of dome...Read more...