Results

CEP discussion paper

Tickets to the global market: first US patent awards and Chinese firm exports

We investigate how international patent activity enables firms from emerging economies to thrive in the global marketplace. We match Chinese customs data to US patent records and leverage the quasi-random assignment of U...Read more...

Blog

LSE Business Review:

More education signals ability to employers, but does it really improve skills?

Better educated workers may earn higher wages for two possible reasons: because they acquire more skills or because more education signals their intellect and enthusiasm. Economists believe that signalling plays a role a...Read more...

Journal article

The Review of Economic Studies:

First impressions matter: Signalling as a source of policy dynamics

We provide the first direct empirical support for the importance of signalling in monetary policy by testing two key predictions from a novel structural model. First, all policymaker types should become less tough on inf...Read more...

CEP discussion paper

Signalling, Incumbency Advantage, and Optimal Reelection Rules

Much literature on political behavior treats politicians as motivated by reelection, choosing actions to signal their types to voters. We identify two novel implications of models in which signalling incentives are impor...Read more...

CEP discussion paper

First Impressions Matter: Signalling as a Source of Policy Dynamics

We first establish that policymakers on the Bank of England's Monetary Policy Committee choose lower interest rates with experience. We then reject increasing confidence in private information or learning about the struc...Read more...

CEP discussion paper

Delayed Doves: MPC Voting Behaviour of Externals

The use of independent committees for the setting of interest rates, such as the Monetary Policy Committee (MPC) at the Bank of England, is quickly becoming the norm in developed economies. In this paper we examine the i...Read more...