Results

CEP discussion paper

Marriage and misallocation: evidence from 70 years of US history

The traditional expectation that married women should be homemakers restricts them from pursuing their comparative advantage in the labor market. I quantify the aggregate economic consequences of these marriage-specific ...Read more...

CVER Research Paper

Young people, human capital investment and the Great Recession

Policy makers recognise the importance of encouraging young people to stay in education for longer. We use the experience of the Great Recession in England to evaluate whether the incentive to invest in human capital bea...Read more...

CEP discussion paper

Firm dynamics and growth with soft budget constraints

We develop a model of endogenous growth and firm dynamics with soft budget constraints, where firms differ in their innovation speed and slower firms need additional financing in order to eventually innovate. As creditor...Read more...

Journal article

Oxford Economic Papers:

Economic insecurity and political preferences

Economic insecurity has attracted growing attention, but there is no consensus as to its definition. We characterize a class of individual economic-insecurity measures based on the time profile of economic resources. We ...Read more...

CEP discussion paper

The signaling value of legal form in debt financing

We examine if a startup's legal form choice is used as a signal by credit providers to infer its risk to default on a loan. We propose that choosing a legal form with low minimum capital requirements signals higher defau...Read more...

Journal article

Education Economics :

Grade expectations: how well can past performance predict future grades?

Students in the UK apply to university with teacher-predicted examination grades, rather than actual results. These predictions have been shown to be inaccurate, and to favour certain groups, leading to concerns about te...Read more...

Journal article

Labour Economics:

Slack and prices during Covid-19: accounting for labor market participation

Strong labor force participation cyclicality during the Covid-19 pandemic has put further into question the capacity of standard Phillips Curve (PC) models to fully capture labor market cyclical conditions. In this paper...Read more...

Journal article

British Journal of Industrial Relations:

Introduction to symposium on the impact of employee influence

The three papers contained in this Symposium are the final products of a lengthy and fruitful research Odyssey. In retrospect, uncharacteristic almost to the point of surreal, the new incoming, post-Brexit referendum, Br...Read more...

Journal article

The Review of Economics and Statistics:

The welfare consequences of centralization: evidence from a quasi-natural experiment in Switzerland

Many countries are reallocating tasks and powers to more central levels of government. To identify centralization's welfare effects, I use a difference-in-differences design that relies on time and cross-cantonal variati...Read more...

Journal article

Journal of Economic Dynamics and Control:

Comments on "labor market trends and the changing value of time"

The last century was characterized by a well-documented marked increase in income inequality in the US (see Alvaredo et al., 2018, among many others), which fostered a vast debate among academics and policy makers about ...Read more...

Blog

LSE Business Review:

Economic insecurity breeds support for the right

Economic insecurity breeds support for the right Economic insecurity is attracting growing attention in social, academic, and policy circles. It has arguably risen for a number of reasons in recent years: the Great Rece...Read more...

CEP discussion paper

Economic insecurity and the rise of the right

Economic insecurity has attracted growing attention in social, academic and policy circles. However, there is no consensus as to its precise definition. Intuitively, economic insecurity is multi-faceted, making any compr...Read more...

Journal article

Economica:

Gender inequality and economic development: fertility, education and norms

We document the evolution of gender inequality in labour market outcomes?earnings, labour supply and wage rates?over the path of economic development, and present evidence on the potential reasons for this evolution. To ...Read more...

CentrePiece article

In brief... The rewards for getting a good degree

It pays to study hard at university, according to research by Shqiponja Telhaj and colleagues. Their study finds that there is a significant hourly wage premium for getting a first or upper second. For graduates more tha...Read more...

Journal article

Oxford Review of Economic Policy:

Higher education, career opportunities, and intergenerational inequality

The UK government has expressed a desire to increase social mobility, with policies to help achieve this aim focused on reducing inequalities in educational attainment. This paper draws together established and new infor...Read more...

CEP discussion paper

Graduate returns, degree class premia and higher education expansion in the UK

We investigate the extent to which graduate returns vary according to the class of degree achieved by UK university students and examine changes over time in estimated degree class premia. Using a variety of complementar...Read more...

CentrePiece article

In brief... Oil: the impact on women's work

Stephan Maurer and Andrei Potlogea explore whether oil-dominated economies are naturally biased against women's labour market participation....Read more...

CEP discussion paper

Fueling the gender gap? Oil and women's labor and marriage market outcomes

This paper analyzes the effect of resource-based economic specialization on women's labor market outcomes. Using information on the location and discovery of major oil fields in the Southern United States coupled with a ...Read more...

CEP discussion paper

Paying for Performance: Incentive Pay Schemes and Employees' Financial Participation

We present new comparable data on the incidence of performance pay schemes in Europe and the USA. We find that the percentage of employees exposed to incentive pay schemes ranges from around 10-15 percent in some Europea...Read more...

CEP discussion paper

Measuring the (Income) Effect of Disability Insurance Generosity on Labour Market Participation

We analyze the employment effect of a law that provides for a 36 percent increase in the generosity of disability insurance (DI) for claimants who are, as a result of their lack of skills and of the labour market conditi...Read more...

CEE/Education and skills discussion paper

The Impact of Tuition Fees and Support on University Participation in the UK

Understanding how policy can affect university participation is important for understanding how governments can promote human capital accumulation. In this paper, we estimate the separate impacts of tuition fees and main...Read more...

CEP discussion paper

Recursive Contracts

We obtain a recursive formulation for a general class of contracting problems involving incentive constraints. These constraints make the corresponding maximization (sup) problems non recursive. Our approach consists of ...Read more...

CEP discussion paper

Participation in Organisations: Economic Approaches

Under the auspices of the debate about high performance work systems, it has been suggested that the evidence of positive results is disappointing and that one reason is that there has been a lack of theory. This paper a...Read more...

SERC/Urban and Spatial Programme Discussion Paper

Family Types and the Persistence of Regional Disparities in Europe

This paper examines the association between one of the most basic institutional forms, the family, and a series of demographic, educational, social, and economic indicators across regions in Europe. Using Emmanuel Todd?s...Read more...

CEP discussion paper

Resurrecting the Participation Margin

This paper considers a real business cycle model with search frictions in the labor market and labor supply which is elastic along the participation margin. Previous authors have found that such models generate counterfa...Read more...

CEE/Education and skills discussion paper

Students' academic self-perception

Participation rates in higher education differ persistently between some groups in society. Using two British datasets we investigate whether this gap is rooted in students? mis-perception of their own and other?s abilit...Read more...

CEP discussion paper

Seigniorage

In this paper I analyse four different but related concepts, each of which highlights some aspect of the way in which the state acquires command over real resources through its ability to issue fiat money. They are (1) s...Read more...

CEE/Education and skills discussion paper

Education Policy in the UK

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CEP discussion paper

The Fallacy of the Fiscal Theory of the Price Level

It is not common for an entire scholarly literature to be based on a fallacy, that is, 'on faulty reasoning; misleading or unsound argument'. The 'fiscal theory of the price level', recently re-developed by Woodford,...Read more...