Results

Journal article

Journal of Industrial Economics:

Asymmetric pass-through and competition

We study the retail price pass-through of four major tax changes in petroleum products using daily pricing data from gas stations on small Greek islands. We find that (i) the pass-through of the tax hikes is five times h...Read more...

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...

Blog

LSE British Politics and Policy:

Council tax is an unfair mess - here's a system that could work better

The consensus says that it's a bad tax, yet politicians have been shying away from reforming council tax for decades. Paul Cheshire offers an alternative that could be fairer and act as the wealth tax that many are calli...Read more...

Journal article

Journal of Economic Perspectives:

A practical guide to shift-share instruments

A recent econometric literature shows two distinct paths for identification with shift-share instruments, leveraging either many exogenous shifts or exogenous shares. We present the core logic of both paths and practical...Read more...

Blog

LSE Politics and Policy:

Only the super rich need fear the farmers' inheritance tax

Protesters and high-profile individuals like James Dyson argued that ending the inheritance tax exemption for farmers will spell the end of the family farmer. Paul Cheshire argues that's not the case, and that the introd...Read more...

Journal article

International Journal of Industrial Organization:

VAT pass-through and competition: evidence from the Greek islands

We examine how competition affects VAT pass-through in isolated oligopolistic markets as defined by the Greek islands. Using daily gasoline prices and a difference-in-differences methodology, we investigate how changes i...Read more...

Journal article

PNAS:

How working from home reshapes cities

In recent decades, economic activity has become increasingly concentrated in major global metropolises. Yet, the rise of working from home threatens this dominance of cities. Using multiple high-frequency datasets on spe...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...

Journal article

Research in Transportation Economics:

Housing prices, buses and trams in Medellin (Colombia)

This paper aims to establish the impact of two medium-capacity transportation systems (MCTS) on housing prices in Medellin (Colombia): Metroplus, a bus rapid transit (BRT) system, and Tranvia, a tramway system. Using rep...Read more...

CEP discussion paper

Asymmetric pass-through and competition

We study the retail price pass-through of four major tax changes in petroleum products using daily pricing data from gas stations on small Greek islands. We find that (i) the pass-through of the tax hikes is five times h...Read more...

Journal article

AEA Papers and Proceedings:

The linear algebra of economic geography models

We provide sufficient statistics for nominal and real wage exposure to productivity shocks in a constant elasticity economic geography model. These exposure measures summarize the first-order general equilibrium elastici...Read more...

Journal article

Journal of Labor Economics:

The employment and distributional impacts of Nationwide Minimum Wage changes

We estimate the effect of the introduction of the UK?s National Living Wage in 2016, and increases in it up to 2019, using a new empirical method. We apply a bunching approach to a setting with no geographical variation ...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 report

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...

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...

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...

CEP discussion paper

The skyscraper revolution: global economic development and land savings

Tall buildings are central to facilitating sustainable urbanization and growth in cities worldwide. We estimate average elasticities of city population and built area to aggregate city building heights of 0.12 and -0.17,...Read more...

CentrePiece article

Low investment Britain: policies to promote foundations for growth

The UK investment ecosystem needs rewiring across the board to increase firms' desire to invest in productive and sustainable assets, and to enhance their ability to do so. Paul Brandily, Mimosa Distefano, Krishan Shah, ...Read more...

Blog

Africa at LSE:

Public disclosure policies don't improve tax collection in Uganda

Public disclosure policies are designed to raise tax compliance where alternative enforcement capacity is limited. But they can also have negative consequences by showcasing the true extent of tax compliance, write Priya...Read more...

CEP discussion paper

Public disclosure and tax compliance: evidence from Uganda

Public disclosure policies have potential to raise tax compliance where alternative enforcement capacity is limited. We study the effects of reporting delinquents and recognizing compliers and provide evidence on the soc...Read more...

Blog

Trade Talks:

Industrial policy and the rise of Romania's Silicon Valley (podcast)

In 2001, Romania gave an income tax break to a select group of software programmers. Isabela Manelici explains how this particular industrial policy helped stem Romania's "brain drain" problem, transformed the country's ...Read more...

Blog

Vox EU:

Competition and pass-through: lessons from the Greek islands

Although theoretical analysis shows that competition is a key determinant of how firms pass through changes in tax rates to consumers, empirical evidence is scant. This column explores changes in the excise duty on petro...Read more...

CEP discussion paper

VAT pass-through and competition: evidence from the Greek Islands

We examine how competition affects VAT pass-through in isolated oligopolistic markets as defined by the Greek islands. Using daily gasoline prices and a difference-in-differences methodology, we investigate how changes i...Read more...

Journal article

AEA Papers and Proceedings:

The local labor market effects of modern manufacturing capital: evidence from France

Using an event study methodology and comprehensive micro data from the French manufacturing sector, we analyze the local labor market effects of investments in modern manufacturing capital, including modern automation te...Read more...

Journal article

Regional Science and Urban Economics:

Working from home and corporate real estate

We examine how corporate real estate market participants adjust to the take-off of teleworking. We develop an index for the exposure of counties to teleworking in France by combining teleworking capacity with incentives ...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...

Blog

Harvard Business Review:

The UK economic crisis might not be a one-off

Markets have reacted poorly to the UK government's new "mini-budget" combining energy price caps with tax cuts for the well off. The government's search for a quick fix to economic growth is a mistake. In fact, restartin...Read more...

Journal article

American Economic Journal: Applied Economics :

Competition and pass-through: evidence from isolated markets

We measure how pass-through varies with competition in isolated oligopolistic markets with captive consumers. Using daily pricing data from gas stations on small Greek islands, we study how unanticipated and exogenous ch...Read more...

Blog

Banque de France:

Ten years on from the business tax reform: how has it affected companies' behaviour?

In 2010, the French corporation tax known as the local economic contribution or CET (contribution economique territoriale) replaced the business tax (TP - taxe professionnelle). This latter tax on production had come und...Read more...

Journal article

The Review of Economics and Statistics:

A natural experiment on job insecurity and fertility in France

Job insecurity can have wide-ranging consequences outside of the labour market. A 1999 rise in the French layoff tax paid by large private firms when they laid off older workers made younger workers less secure; this ins...Read more...

CEP discussion paper

Working from home and corporate real estate

We examine how corporate real estate market participants adjust to the take-off of teleworking. We develop an indicator of the exposure of counties to teleworking in France by combining teleworking capacity with incentiv...Read more...

Blog

LSE British Politics and Policy:

The progressive quandary: how to design an immigration policy that balances competing objectives

There is a tension between strong employment rights, a supportive welfare state, equal rights for migrants and locals, and an open, non-selective immigration policy that creates hard decisions for progressive politicians...Read more...

Blog

LSE Business Review:

Will the US child tax credit reduce poverty and improve outcomes for children and parents?

The American Rescue Plan Act of 2021 temporarily increased the value of the child tax credit from $2,000 to $3,000 for children aged 6-16 and to $3,600 for younger children. To date, the Biden administration has been una...Read more...

CEP discussion paper

Technology transfer in global value chains

Firm-to-firm relationships in global value chains create opportunities for North-South technology diffusion. This paper studies technology transfer in value chains when contracts are incomplete and in-put production tech...Read more...

Blog

Economics Observatory:

How might an independent Scotland build fiscal capacity?

Tim Besley and Chris Dann explain how developing a sense of common purpose is critical for nation-building - and would be a key issue for an independent Scotland....Read more...

Blog

VoxEU:

Working from home and corporate real estate

As remote working became more common during Covid-19, Antonin Bergeaud, Jean Benoit Eymeoud, Thomas Garcia and Dorian Henricot examine how corporate real-estate market participants adjusted to the growth of teleworking i...Read more...

Blog

LSE Covid-19:

A sense of mutual obligation means that even the rich should see the point of paying their taxes

Creating a strong sense of reciprocity between the state and its citizens makes it more likely they will pay taxes willingly, says Timothy Besley (LSE). As we emerge from a pandemic that emphasised the importance of mutu...Read more...

CEP discussion paper

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...

Journal article

National Tax Journal:

How did safety-net reform affect early adulthood among adolescents from low-income families?

In the 1990s, the US safety net was substantially reformed. We ask how those reforms collectively affected early-career outcomes among youths who were teens when the reforms took effect. We consider employment, safety-ne...Read more...

CEP discussion paper

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...

Blog

VoxEU:

Corporate taxes: views of leading economists on profit-shifting, tax base and a global minimum rate

Romesh Vaitilingam reports on economists' responses to the IGM Forum poll on issues surrounding the G7 global deal on corporate taxes....Read more...

Blog

Grantham Institute blogs:

The answer to housing's stubborn carbon emissions problem: green offsets

Paul Cheshire and Christian Hilber propose 'green offsets' to reduce property taxes in a way that is strictly scaled to energy efficiency, as a simple intervention to address the UK's urgent need to reduce its residentia...Read more...

Blog

Vox EU:

How to improve tax compliance: Evidence from population-wide experiments in Belgium

Tax compliance lies at the heart of well-functioning societies, but the US and Europe spend vast sums annually to enforce it. This column discusses the results of population-wide experiments run in collaboration with the...Read more...

Journal article

Journal of Political Economy:

How to improve tax compliance? Evidence from population-wide experiments in Belgium

We study the impact of simplification, deterrence, and tax morale on tax compliance. We ran four natural field experiments varying the communication of the tax administration with the universe of income taxpayers in Belg...Read more...

CEP discussion paper

Innovation and human capital policy

If innovation is to be subsidized, a natural place to start is to increase the quantity and quality of human capital. Innovation, after all, begins with people. Simply stimulating the ?demand side? through R&D subsidies ...Read more...

CentrePiece article

Innovation policy to restore American prosperity

The new US administration has the opportunity to reset an economic model that has failed to deliver prosperity for millions of Americans for decades. John Van Reenen calls for a Grand Innovation Challenge Fund ? federal ...Read more...

Blog

LSE US Centre:

Trade protection along supply chains: how antidumping measures against China hurt downstream industries

Production processes are often no longer confined to a single country; supply chains can be fragmented across great distances. By contrast, tariffs are often used by individual countries to protect certain industries. In...Read more...

Journal article

Review of Economics and Statistics:

Trade and uncertainty

We offer a new explanation as to why international trade is so volatile in response to economic shocks. Our approach combines the idea of uncertainty shocks with international trade. Firms order inputs from home and fore...Read more...

CentrePiece article

Climate change policy: the case for a Covid-19 carbon tax

Ralf Martin and John Van Reenen explain how taxing emissions could help to meet the costs of the crisis and encourage investment in clean innovation....Read more...

CEP discussion paper

A natural experiment on job insecurity and fertility in France

Job insecurity can have wide-ranging consequences outside of the labour market. We here argue that it reduces fertility amongst the employed. The 1999 rise in the French Delalande tax, paid by large private firms when th...Read more...

CentrePiece article

The cost of being young: measuring intergenerational consumer prices

The UK's young adults are navigating a very different economic landscape to earlier generations, including low real wage growth, lower likelihood of owning their own home and the uncertain prospects of Brexit. Rahat Sidd...Read more...

Journal article

Fiscal Studies:

Financing local police spending in England and Wales: fiscal federalism in practice

Since 1995, police forces in England and Wales have been able to raise revenues locally to supplement grants from central government. We analyse the variation across police force areas in locally raised police revenues o...Read more...

CEP discussion paper

Competition and pass-through: evidence from isolated markets

We measure how pass-through varies with competition in isolated oligopolistic markets with captive consumers. Using daily pricing data from gas stations on small Greek islands, we study how unanticipated and exogenous ch...Read more...

CEP discussion paper

A toolkit of policies to promote innovation

Economic theory suggests that market economies are likely to under-provide innovation due to the public good nature of knowledge. Empirical evidence from the US and other advanced economies supports this idea. We summari...Read more...

CentrePiece article

Trade and deskilling: how the post-referendum sterling depreciation hurt workers

The unexpected result of the Brexit referendum, working through the rapid depreciation of sterling, had a sizable negative impact on UK workers. New CEP work by Rui Costa, Swati Dhingra and Stephen Machin shows that the ...Read more...

Journal article

Journal of the European Economic Association:

Joseph Schumpeter Lecture, EEA Annual Congress 2017: do tax cuts produce more Einsteins? The impacts of financial incentives versus exposure to innovation on the supply of inventors

Many countries provide financial incentives to spur innovation, ranging from tax incentives to research and development grants. In this paper, we study how such financial incentives affect individuals' decisions to pursu...Read more...

CEP discussion paper

How to improve tax compliance? Evidence from population-wide experiments in Belgium

We study the impact of deterrence, tax morale, and simplifying information on tax compliance. We ran _ve experiments spanning the tax process which varied the communication of the tax administration with all income taxpa...Read more...

Journal article

Quantitative Economics:

Incidence, salience, and spillovers: the direct and indirect effects of tax credits on wages

Tax credits are a popular way to alleviate in-work poverty. A common empirical assumption is that the benefit of the tax credit is borne solely by the claimant workers. However, economic theory suggests no particular rea...Read more...

CEP discussion paper

Do tax cuts produce more Einsteins? The impacts of financial incentives vs. exposure to innovation on the supply of inventors

Many countries provide financial incentives to spur innovation, ranging from tax incentives to research and development grants. In this paper, we study how such financial incentives affect individuals' decisions to pursu...Read more...

Journal article

Regional Science and Urban Economics:

The bedroom tax

Housing subsidies for low income households are a central pillar of many welfare systems, but an expensive one. This paper investigates the consequences of an unusual policy aimed at reducing the cost of these subsidies ...Read more...

CentrePiece article

In brief... The bedroom tax

The `bedroom tax? ? a UK government policy introduced in 2013 that cut housing benefits for social tenants deemed to have a `spare? bedroom ? saved some public money, according to research by Steve Gibbons and colleagues...Read more...

Journal article

Economica:

Wage flexibility and employment fluctuations: evidence from the housing sector

Many economists suspect that downward nominal wage rigidities in ongoing labour contracts are an important source of employment fluctuations over the business cycle, but there is little direct empirical evidence on this ...Read more...

CentrePiece article

The price of Brexit

Writing in the summer 2018 issue of CentrePiece magazine, Thomas Sampson notes that the full economic consequences of the UK?s leave vote will not be realised for many years. But two years after the referendum, we can al...Read more...

CEP discussion paper

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...

CEP discussion paper

The bedroom tax

Housing subsidies for low income households are a central pillar of many welfare systems, but an expensive one. This paper investigates the consequences of an unusual policy aimed at reducing the burden of these subsidie...Read more...

CEP industrial strategy paper

Investing in People: The Case for Human Capital Tax Credits

It is now widely recognised that human capital accumulation and research and development (R&D) are key drivers of economic growth, as is documented in most standard textbooks (e.g. Acemoglu, 2007; Romer, 1996). Estimates...Read more...

CVER Briefing Note

Investing in People: The Case for Human Capital Tax Credits

Read more...

Journal article

The Economic Journal:

Locus of control and its intergenerational implications for early childhood skill formation

This article builds upon Cunha's (2015) subjective rationality model in which parents have a subjective belief about the impact of their investment on their children's early skill formation. We propose that this subjecti...Read more...

CentrePiece article

Stamp duty, mobility and the UK housing crisis

The UK?s stamp duty land tax raises substantial revenues for the government, but it also contributes to the UK?s housing crisis by preventing households from moving to more suitable homes. That is the central conclusion ...Read more...

Journal article

Journal of Urban Economics:

Transfer taxes and household mobility: distortion on the housing or labor market?

We estimate the effect of the UK Stamp Duty Land Tax (SDLT) ? a transfer tax on the purchase price of property or land ? on different types of household mobility using micro data. Exploiting a discontinuity in the tax sc...Read more...

SERC/Urban and Spatial Programme Discussion Paper

Transfer Taxes and Household Mobility: Distortion on the Housing or Labor Market?

We estimate the effect of the UK Stamp Duty Land Tax (SDLT) ? a transfer tax on the purchase price of property or land ? on different types of household mobility using micro data. Exploiting a discontinuity in the tax sc...Read more...

CEP election analysis

#GE2017Economists: The Research Evidence on Key Issues for Voters in the 2017 UK General Election

The unexpected UK general election of 2017 was intended to be all about Brexit, one that will give the incoming government a mandate to negotiate the terms of the UK?s exit from the European Union (EU). But many other pu...Read more...

CEP election analysis

Real Wages and Living Standards in the UK

Since the global financial crisis of 2007/08, workers? real wages and family living standards in the UK have suffered to an extent unprecedented in modern history. Real wages of the typical (median) worker have fallen by...Read more...

CEP real wages update

The Return of Falling Real Wages

The falling real wages experienced by most UK workers between 2008 and 2014 were followed by modest growth in 2015 and 2016. But it has now reversed back as real wages have once again started to fall. This is courtesy of...Read more...

Journal article

The Scandinavian Journal of Economics:

A characteristics approach to optimal taxation: line drawing and tax-driven product innovation

Real-world tax legislation assigns goods to different categories of tax rates on the basis of observable characteristics, allowing the tax system to handle a constantly evolving set of available goods. We recast the theo...Read more...

Journal article

Journal of Economic Geography:

Urban renewal after the Berlin wall: a place-based policy evaluation

We use a quasi-experimental research design to study the effects of a spatially targeted renewal policy implemented in Berlin, Germany, in the aftermath of the city's division during the Cold War period. Our results sugg...Read more...

CentrePiece article

High-speed rail in China

Encouraging innovation is a perennial policy goal ? and one common approach is to promote the adoption of foreign technology. Yatang Lin and colleagues examine the impact of China?s technology transfer policy, which has ...Read more...

Journal article

Journal of International Economics:

The price of development: The Penn?Balassa?Samuelson effect revisited

The Penn?Balassa?Samuelson effect is the stylized fact about the positive correlation between cross-country price level and per-capita income. This paper provides evidence that the price?income relation is actually non-l...Read more...

SERC/Urban and Spatial Programme Discussion Paper

The Housing Market Impacts of Constraining Second Home Investments

We investigate how political backlash against wealthy second home investors in high-amenity places ? tourist areas or superstar cities ? affects local residents. We develop a general equilibrium model and exploit a quasi...Read more...

CEP discussion paper

Wage flexibility and employment fluctuations: evidence from the housing sector

Many economists suspect that downward nominal wage rigidities in ongoing labor contracts are an important source of employment fluctuations over the business cycle but there is little direct empirical evidence on this co...Read more...

Journal article

American Economic Journal: Economic Policy:

Do cash transfers improve birth outcomes? Evidence from matched vital statistics, and program and social security data

There is limited empirical evidence on whether cash transfers to poor pregnant women improve children's birth outcomes and potentially help weaken the cycle of intergenerational poverty. Using a unique array of program a...Read more...

CEP discussion paper

Do tax incentives for research increase firm innovation? An RD design for R&D, patents and spillovers

We present evidence of the positive causal impacts of research and development (R&D) tax incentives on a firm's own innovation and that of its technological neighbors (spillovers). Exploiting a change in the assets-based...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...

CEP discussion paper

International technology transfer and domestic innovation: evidence from the high-speed rail sector in China

How does the transfer of advanced technology spur innovation in developing countries? This paper exploits the large-scale introduction of high-speed railway (HSR) technology into China in 2004 as a natural experiment to ...Read more...

SERC/Urban and Spatial Programme Discussion Paper

Transfer Taxes and Household Mobility: Distortion on the Housing or Labor Market?

We estimate the effect of the UK Stamp Duty Land Tax (SDLT) ? a transfer tax on the purchase price of property or land ? on different types of household mobility using micro data. Exploiting a discontinuity in the tax sc...Read more...

CEP real wages update

UK real wages: a long way to go

Prospects for a boost in the real wages of UK workers remain bleak, despite some commentators still continuing to paint a more optimistic picture. This report, the latest in a new series of CEP Real Wages Updates, notes ...Read more...

CEP real wages update

Real wages continue to fall in the UK

Real wages continue to fall - in the UK and elsewhere - yet despite this striking feature of the labour market, some commentators anticipate resurgent pay growth in the near future. This report, the first in a new series...Read more...

CEP election analysis

#ElectionEconomics: The Research Evidence on Key Issues for Voters in the 2015 UK General Election

Please see the CEP #ElectionEconomics report(Paper 1)and the Executive Summary (Paper 2) that cover all the election 2015 briefings, discussing the research evidence on 15 of the UK's key policy battlegrounds: immigratio...Read more...

CEP election analysis

Top Rate of Income Tax

The main political parties disagree about the appropriate rate of income Tax on the highest incomes. This note lays out the economic principles surrounding the top rate of income tax and considers the evidence that high ...Read more...

CEP election analysis

Real Wages and Living Standards

Real wages and living standards have taken a hard hit in the UK in the recent past. Real wages of the typical (median) UK worker have fallen by almost 10% since 2008 and median family incomes have significantly fallen fo...Read more...

Journal article

Journal of Public Economics:

The impact of a carbon tax on manufacturing: Evidence from microdata

We estimate the impact of a carbon tax on manufacturing plants using panel data from the UK production census. Our identification strategy builds on the comparison of outcomes between plants subject to the full tax and p...Read more...

CEP discussion paper

Eliciting taxpayer preferences increases tax compliance

Two experiments show that eliciting taxpayer preferences on government spending?providing taxpayer agency--increases tax compliance. We first create an income and taxation environment in a laboratory setting to test for ...Read more...

CEP discussion paper

Trade and uncertainty

We offer a new explanation as to why international trade is so volatile in response to economic shocks. Our approach combines the uncertainty shock idea of Bloom (2009) with a model of international trade, extending the ...Read more...

CentrePiece article

Falling real wages

The researchers note that there have been historically unprecedented falls in UK real wages since the start of the Great Recession. What?s more, the long US experience of stagnant real wages (median real weekly earnings ...Read more...

CEP discussion paper

Concentration versus re-matching? Evidence about the locational effects of commuting costs

Using administrative employer-employee data from Germany, I exploit two reductions of tax breaks for commuting in 2003/4 and 2006/7 to estimate commuting costs? effect on the decision to switch job and move house. Standa...Read more...

CEP discussion paper

The Great Stagnation: What Can Policymakers Do?

Although the economic recovery in the UK has been disappointing, it is inappropriate to either assert that Japan?s two lost decades illustrate the ineffectiveness of stimulative monetary policy or that the UK is predesti...Read more...

SERC/Urban and Spatial Programme Discussion Paper

The Effect of the UK Stamp Duty Land Tax on Household Mobility

We estimate the effect of the UK Stamp Duty Land Tax on household mobility using micro data. Exploiting a discontinuity in the tax schedule as a quasi-experimental setting, we isolate the impact of the stamp duty from ot...Read more...

CEP discussion paper

Reparations, Deficits, and Debt Default: the Great Depression in Germany

Germany?s Great Depression of the early 1930s started in 1929 with a sudden stop in the current account. It ended after a foreign debt default that unfolded in several stages from 1931 to 1933. This chapter reviews Germa...Read more...

CEP discussion paper

Why Has China Grown So Fast? The Role of International Technology Transfer

Chinese economic growth has been spectacular in the last 30 years. We investigate the role of International Joint Ventures with Technology Transfer agreements, an understudied area. Technology transfer is the traditional...Read more...

CEP discussion paper

Do Cash Transfers Improve Birth Outcomes? Evidence from Matched Vital Statistics, Social Security and Program Data

There is limited empirical evidence on whether unrestricted cash social assistance to poor pregnant women improves children?s birth outcomes. Using program administrative micro-data matched to longitudinal vital statisti...Read more...