Results

CEP discussion paper

Shocked by Covid: exporting along global value chains

This paper examines the impact of protectionist policies on exports within global value chains (GVCs), using the COVID-19 pandemic as a natural experiment. Leveraging UK customs data (2017-2020) and a shift-share identif...Read more...

Journal article

The Econometrics Journal:

Design-based identification with formula instruments: a review

Many studies in economics use instruments or treatments that combine a set of exogenous shocks with other predetermined variables via a known formula. Examples include shift-share instruments and measures of social or sp...Read more...

CentrePiece article

Superstar firms: how the shift from manufacturing to services affects local concentration of sales and jobs

The leading US firms in many industries have increased their national market share substantially over the last four decades - making these industries more concentrated. But locally the picture is more complex. David Auto...Read more...

CEP discussion paper

Multinationals, robots and the labor share

Using a panel of Spanish manufacturing firms covering the 1990-2017 period, this paper shows that firms acquired by multinational enterprises experience a reduction in the labor share. Acquisitions drive significant chan...Read more...

CEP discussion paper

Foreign ownership and robot adoption

This paper shows that multinational enterprises (MNEs) spur the adoption of industrial robots. First, I document a positive and robust correlation between multinational production and robot adoption using a new cross-cou...Read more...

Journal article

Journal of Participation and Employee Ownership:

Footsie, yeah! Share prices and worker wellbeing

A small literature has shown that individual wellbeing varies with the price of company stock, but it is unclear whether this is due to wealth effects amongst those holding stock, or more general effects on sentiment, wi...Read more...

CEP discussion paper

Have productivity and pay decoupled in the UK?

In the long-run at the macro level, the real pay of workers tends to follow labour productivity. In recent years, however, there have been concerns that this relationship has broken down and that pay has become "decouple...Read more...

Journal article

The Review of Economic Studies:

Quasi-experimental shift-share research designs

Many studies use shift-share (or ?Bartik?) instruments, which average a set of shocks with exposure share weights. We provide a new econometric framework for shift-share instrumental variable (SSIV) regressions in which ...Read more...

CEP discussion paper

Labor demand in the past, present and future

Since the beginning of the Industrial Revolution, technological change has led to the automation of existing tasks and the creation of new ones, as well as the reallocation of labor across occupations and industries. The...Read more...

Journal article

The Quarterly Journal of Economics:

The fall of the labor share and the rise of superstar firms

The fall of labor's share of GDP in the United States and many other countries in recent decades is well documented but its causes remain uncertain. Existing empirical assessments typically rely on industry or macro data...Read more...

Journal article

Economica:

Special economic zones and WTO compliance: evidence from the Dominican Republic

Special economic zones (SEZ), one of the most important instruments of industrial policy used in developing countries, often impose export share requirements (ESR). That is, firms located in SEZ are required to export mo...Read more...

CEP discussion paper

Special economic zones and WTO compliance: evidence from the Dominican Republic

Special economic zones (SEZ), one of the most important instruments of industrial policy used in developing countries, often impose export share requirements (ESR). That is, firms located in SEZ are required to export mo...Read more...

CEP discussion paper

The productivity slowdown and the declining labor share: a neoclassical exploration

We explore the possibility that a global productivity slowdown is responsible for the widespread decline in the labor share of national income. In a neoclassical growth model with endogenous human capital accumulation a ...Read more...

Journal article

Journal of Health Economics:

Retirement blues

This paper analyses the short- and longer-term effects of retirement on mental health in ten European countries. It exploits thresholds created by state pension ages in an individual-fixed effects instrumental-variable s...Read more...

CEP discussion paper

The fall of the labor share and the rise of superstar firms

The fall of labor's share of GDP in the United States and many other countries in recent decades is well documented but its causes remain uncertain. Existing empirical assessments typically rely on industry or macro data...Read more...

Journal article

Journal of Development Economics:

Subsidies with export share requirements in China

A subsidy is subject to an export share requirement (ESR) when firms must export more than a certain share of their output to receive it. Such incentives are frequently found in free trade zones, export processing regime...Read more...

Journal article

American Economic Review:

Concentrating on the fall of the labor share

The recent fall of labor's share of GDP in numerous countries is well-documented, but its causes are poorly understood. We sketch a "superstar firm" model where industries are increasingly characterized by "winner take m...Read more...

CEP discussion paper

Concentrating on the fall of the labor share

In this paper, we discuss an explanation for the fall in share of labour in GDP based on the rise of ?superstar firms.? If globalization or technological changes advantage the most productive firms in each industry, prod...Read more...

Journal article

Health Economics (United Kingdom):

On a family of achievement and shortfall inequality indices

This paper identifies a family of absolute consistent inequality indices using a weakly decomposable postulate suggested by Ebert. Because one member employs an Atkinson type aggregation we refer to it as the Atkinson in...Read more...

CEP discussion paper

Protectionism through exporting: subsidies with export share requirements in China

We study the effect of subsidies subject to export share requirements (ESR) - that is, conditioned on a firm exporting at least a given fraction of its output - on exports, the intensity of competition and welfare, throu...Read more...

CentrePiece article

Wage stagnation and the legacy costs of employment

Although UK real wages have been stagnant for over a decade, there has been a notable increase in nonwage compensation. But as Brian Bell reveals, this rise consists largely of special payments to fund deficit gaps in '...Read more...

CEP discussion paper

Employee stock purchase plans - gift or incentive? Evidence from a multinational corporation

Many large listed firms offer workers the opportunity to buy shares in the firm at discounted rates through employee stock purchase plans (ESPP). The discounted rate creates a gift exchange, where the firm hopes that wor...Read more...

CEP discussion paper

Gone for good? Subsidies with export share requirements in China: 2002-2013

This paper presents a simple model of subsidies with export share requirements (ESR) in a heterogeneous firm environment. A two-country general equilibrium version of the model with a single 100% ESR is calibrated using ...Read more...

CentrePiece article

Wage growth and productivity growth: the myth and reality of 'decoupling'

Employees in the UK are not being denied their fair share of economic growth, according to research by Jo?o Paulo Pessoa and John Van Reenen. Their investigation of claims that wage growth has become `decoupled? from pro...Read more...

CEP discussion paper

Decoupling of wage growth and productivity growth? Myth and reality

It is widely believed that in the US wage growth has fallen massively behind productivity growth. Recently, it has also been suggested that the UK is starting to follow the same path. Analysts point to the much faster gr...Read more...

CEP discussion paper

Change and Persistence in the German Model of Collective Bargaining and Worker Representation

This paper depicts and examines the decline in collective bargaining coverage in Germany. Using repeat cross-section and longitudinal data from the IAB Establishment Panel, we show the overwhelming importance of behavior...Read more...

CEP discussion paper

Industrial Structure and Child Labor: Evidence from the Brazilian Population Census

This paper uses micro data from the 1980, 1991 and 2000 population censuses to investigate the role of changes in the industry mix in accounting for the differential trends in the incidence of child work (ages 10-15) acr...Read more...

CEP discussion paper

To Join or Not to Join? Factors Influencing Employee Share Plan Membership in a Multinational Corporation

Many firms encourage employees to own company stock through share plans that subsidize the price at favorable rates, but even so many employees do not buy shares. Using a new survey of employees in a multinational with a...Read more...

CEP discussion paper

Slip Sliding Away: Further Union Decline in Germany and Britain

This paper presents the first comparative analysis of the decline in collective bargaining in two European countries where that decline has been most pronounced. Using workplace-level data and a common model, we present ...Read more...

CEP discussion paper

How Does Shared Capitalism Affect Economic Performance in the UK?

This paper uses nationally representative linked workplace-employee data from the British 2004 Workplace Employment Relations Survey to examine the operation of shared capitalist forms of pay ? profit-sharing and group p...Read more...

CEP discussion paper

Privatization, Entry Regulation and the Decline of Labor's Share of GDP: A Cross-Country Analysis of the Network Industries

Labor?s share of GDP in most OECD countries has declined over the last two decades. Some authors have suggested that these changes are linked to deregulation of product and labor markets. To examine this we focus on a la...Read more...