Results

Journal article

Journal of Property Investment and Finance:

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

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

Journal article

Journal of Urban Regeneration and Renewal:

Green belts and the inefficient allocation of land

Land is an economic resource, so the efficiency with which it is used is essentially an economic problem. This paper, therefore, approaches the issue from an economic perspective. Having surveyed the economic definitions...Read more...

Journal article

The Review of Economic Studies:

Revisiting event study designs: robust and efficient estimation

We develop a framework for difference-in-differences designs with staggered treatment adoption and heterogeneous causal effects. We show that conventional regression-based estimators fail to provide unbiased estimates of...Read more...

Journal article

Management Science :

Managerial and financial barriers to the green transition

Using data on 10,776 firms across 22 emerging markets, we show that both credit constraints and weak green management hold back corporate investment in green technologies embodied in new machinery, equipment, and vehicle...Read more...

Chapter

The evolution of gender in the labor market

in Handbook of Labor Economics

This chapter traces the evolution of the study of gender in the labor market, focusing on how academic thinking on this topic has evolved alongside real world developments in gender inequality from the 1980s to the prese...Read more...

CEP Insights

Crime

What can economics tell us about crime? Economists have discovered that young people who leave school during a recession are more likely to end up in prison than those who enter the labour market when the economy is buoy...Read more...

CEP discussion paper

Managerial and financial barriers during the green transition

Using data on 10,769 firms across 22 emerging markets, we show that both credit constraints and weak green management hold back corporate investment in green technologies embodied in new machinery, equipment and vehicles...Read more...

CEP discussion paper

Trade, productivity and (mis)allocation

We examine the gains from globalization in the presence of firm heterogeneity and potential resource misallocation. We show theoretically that without distortions, bilateral and export liberalizations increase aggregate ...Read more...

Journal article

Journal of Urban Economics:

The energy costs of historic preservation

We explore the impact of historic preservation policies on domestic energy consumption. Using panel data for England from 2006 to 2013 and employing a fixed effects strategy, we document that (i) rising national energy p...Read more...

Journal article

Journal of Public Economics:

Does competition from private surgical centres improve public hospitals? performance? Evidence from the English National Health Service

This paper examines the impact of a government programme which facilitated the entry of for-profit surgical centres to compete against incumbent National Health Service hospitals in England. We examine the impact of comp...Read more...

Journal article

Small Business Economics:

Entrepreneurship, institutional economics, and economic growth: an ecosystem perspective

We analyze conceptually and in an empirical counterpart the relationship between economic growth, factor inputs, institutions, and entrepreneurship. In particular, we investigate whether entrepreneurship and institutions...Read more...

Journal article

National Institute Economic Review:

Broken market or broken policy? The unintended consequences of restrictive planning

This paper summarises the evidence from recent research relating to the British Planning system's impact on the supply of development. Planning serves important economic and social purposes but it is essential to disting...Read more...

Journal article

Economics of Education Review:

Smart but unhappy: independent-school competition and the wellbeing-efficiency trade-off in education

We study whether independent-school competition involves a trade-off between pupil wellbeing and academic performance. To test this hypothesis, we analyse data covering pupils across the OECD, exploiting historical Catho...Read more...

Journal article

Research in Economics:

Efficiency in large markets with firm heterogeneity

Empirical work has drawn attention to the high degree of productivity differences within industries, and its role in resource allocation. In a benchmark monopolistically competitive economy, productivity differences intr...Read more...

CEP discussion paper

Efficiency in large markets with firm heterogeneity

Abstract Empirical work has drawn attention to the high degree of productivity differences within industries, and its role in resource allocation. In a benchmark monopolistically competitive economy, productivity differe...Read more...

SERC/Urban and Spatial Programme Discussion Paper

The Energy Costs of Historic Preservation

We explore the impact of historical preservation policies on domestic energy consumption. Using panel data for England from 2006 to 2013 and employing a fixed effects-strategy, we document that (i) rising national energy...Read more...

CEP discussion paper

Aggregate recruiting intensity

We develop a model of firm dynamics with random search in the labor market where hiring firms exert recruiting effort by spending resources to fill vacancies faster. Consistent with micro evidence, in the model fast-grow...Read more...

CEP discussion paper

Does competition from private surgical centres improve public hospitals' performance? Evidence from the English National Health Service

This paper examines the impact of competition from government-facilitated entry of private, specialty surgical centres on the efficiency and case mix of incumbent public hospitals within the English NHS. We exploit the f...Read more...

CentrePiece article

Educational efficiency: value for money in public spending on schools

Which national education systems deliver the best value for money? Peter Dolton and colleagues rank 30 of the world?s richest countries based on their expenditure on teacher costs (which account for 80% of education budg...Read more...

SERC/Urban and Spatial Programme Discussion Paper

Firm Size and Judicial Efficiency in Italy: Evidence from the Neighbour's Tribunal

We investigate the causal relationship between judicial efficiency and firm size across Italian municipalities, exploiting spatial discontinuities in tribunals' jurisdiction for identification. Results show that halving ...Read more...

CEP discussion paper

The Impact of Integration on Productivity and Welfare Distortions Under Monopolistic Competition

A fundamental question in monopolistic competition theory is whether the market allocates resources efficiently. This paper generalizes the Spence-Dixit-Stiglitz framework to heterogeneous firms, addressing when the mark...Read more...

CEP discussion paper

A Note on Schooling in Development Accounting

How much would output increase if underdeveloped economies were to increase their levels of schooling? We contribute to the development accounting literature by describing a nonparametric upper bound on the increase in o...Read more...

CEP discussion paper

Anatomy of a Paradox: Management Practices, Organisational Structure and Energy Efficiency

This paper presents new evidence on managerial and organizational factors that explain firm level energy efficiency and TFP. We interviewed managers of 190 randomly selected manufacturing plants in the UK and matched the...Read more...

CEP discussion paper

Why is the US so Energy Intensive? Evidence from US Multinationals in the UK

At present the USA is - in per capita terms - the top greenhouse gas polluter among the world?s major economies. This is mirrored by the high energy intensity of all sectors of the US economy including manufacturing indu...Read more...

CEP discussion paper

Modern Management: Good for the Environment or Just Hot Air?

We use an innovative methodology to measure management practices in over 300 manufacturing firms in the UK. We then match this management data to production and energy usage information for establishments owned by these ...Read more...

CEP discussion paper

When Workers Share in Profits: Effort and Responses to Shirking

This paper summarizes new evidence from the ?Shared Capitalism? Project on the extent to which workers? earnings depend on the performance of their firm or work group in the US and advanced European countries and on the ...Read more...

CEP discussion paper

Efficiency Wages and the Economic Effects of the Minimum Wage: Evidence from a Low-Wage Labour Market

We exploit a natural experiment provided by the 1990 introduction of the UK National Minimum Wage (NMW) to investigate the relationship between wages and monitoring and to test for Efficiency Wages considerations in a lo...Read more...

CEP discussion paper

The Impact of Central Bank Announcements on Asset Prices in Real Time: Testing the Efficiency of the Euribor Futures Market

This paper examines the effect of European Central Bank communication on the price discovery process in the Euribor futures market using a new tick-by-tick dataset. First, we show that two pieces of news systematically h...Read more...

CEP discussion paper

Trade and Growth with Heterogeneous Firms

This paper explores the impact of trade on growth when firms are heterogeneous. We find that greater openness produces anti-and pro-growth effects. The Melitz-model selection effects raises the expected cost of introduci...Read more...

CEP discussion paper

Unions, Performance-Related Pay and Procedural Justice: the Case of Classroom Teachers

Performance-related pay (PRP) and performance management (PM) are now a part of the organizational landscape that unions face in the UK?s public services. While PRP and PM threaten the scope of traditional union bargaini...Read more...

CEP discussion paper

Unions and Procedural Justice: An Alternative to the 'Common Rule'

Can unions substitute a procedural justice role for their traditional reliance on establishing a ?common rule?? The decline of ?bureaucratic? models of employee management and the rise of performance pay and performance ...Read more...

CEP discussion paper

Aggregate Growth and the Efficiency of Labour Reallocation

We consider the potential importance of labour market efficiency for aggregate growth. The idea is that efficient labour markets move workers more quickly from low to high productivity sites, thereby raising aggregate pr...Read more...

CEP discussion paper

Employment Protection and Unemployment in an Efficiency Wage Model

Firing costs are often blamed for unemployment. This paper investigates this well spread belief. The main points are two. First, firing costs are modelled in an efficiency wage model to capture their effects on employmen...Read more...