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Blog

Vox EU:

Hiroshima: Resilience of city structure after the atomic bombing

Cities have faced a host of shocks throughout history, including earthquakes, hurricanes, coastal flooding, and storm surges, as well as wartime destruction, such as in the current Russia-Ukraine conflict. This column lo...Read more...

Journal article

Journal of Urban Economics:

The economic impacts of the UK's eat out to help out scheme

We evaluate the economic impacts of the UK's Eat Out to Help Out (EOTHO) scheme on the food service sector. EOTHO was introduced during the COVID pandemic to stimulate demand by subsidizing the cost of eating out, with a...Read more...

Blog

Economics Observatory:

How could the UK's education system be reformed to equalise opportunities?

Nine out of ten respondents to a recent UK poll by More in Common for the Sutton Trust agreed that it is important for young people to have equal opportunities, regardless of their background. While recent YouGov pollin...Read more...

Journal article

Journal of Urban Economics:

On the economic impacts of mortgage credit expansion policies: evidence from help to buy

We take advantage of two spatial discontinuities in Britain's Help to Buy (HtB) scheme to explore the effectiveness and distributional implications of mortgage credit expansion policies. Employing a Difference-in-Discont...Read more...

Journal article

Journal of Economic Geography:

Left-behind versus unequal places: interpersonal inequality, economic decline and the rise of populism in the USA and Europe

Economic change over the past 20 years has rendered many individuals and territories vulnerable, leading to greater interpersonal and interterritorial inequality. This rising inequality is seen as a root cause of populis...Read more...

CEP discussion paper

Managerial input and firm performance. Evidence from a policy experiment

We study the effects of a subsidy program designed to boost small and medium enterprises' export capabilities through a Temporary Export Manager (TEM), hired for at least 6 months to provide consulting on how to reach fo...Read more...

CEP discussion paper

The economic impacts of the UK's eat out to help out scheme

We evaluate the economic impacts of the UK's Eat Out to Help Out (EOTHO) scheme on the food service sector. EOTHO subsidised the cost of eating out, with a 50% discount Mondays to Wednesdays in August 2020. We exploit th...Read more...

Journal article

Journal of Environmental Economics and Management:

Searching for carbon leaks in multinational companies

Does a unilateral climate change policy cause companies to shift the location of production, thereby creating carbon leakage? In this paper, we analyze the effect of the European Union Emissions Trading System (EU ETS) o...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...

CEP Covid-19 analysis

Recovering from the first Covid-19 lockdown: Economic impacts of the UK's Eat Out to Help Out scheme

We evaluate some of the economic impacts of the UK's Eat Out to Help Out (EOTHO) scheme on the food service sector. EOTHO subsidised the cost of eating out, with a 50% discount Mondays to Wednesdays in August 2020. We ex...Read more...

Journal article

The Economic Journal:

Location, search costs and youth unemployment: experimental evidence from transport subsidies

Do high search costs affect the labour market outcomes of jobseekers living far away from jobs? I randomly assign transport subsidies to unemployed youth in urban Ethiopia. Treated respondents increase job search intensi...Read more...

Journal article

The Quarterly Journal of Economics:

Reference-dependent job search: evidence from Hungary

We propose a model of job search with reference-dependent preferences, with loss aversion relative to recent income (the reference point). In this model, newly unemployed individuals search hard since consumption is belo...Read more...

CEP discussion paper

Risk-based selection in unemployment insurance: evidence and implications

This paper studies whether adverse selection can rationalize a universal mandate for unemployment insurance (UI). Building on a unique feature of the unemployment policy in Sweden, where workers can opt for supplemental ...Read more...

CEP election analysis

Brexit as Climate Policy: The Agenda on Energy and the Environment

The Great Recession and a sluggish economic recovery were instrumental in meeting the legally binding climate change targets that the UK has set for itself. But without more drastic policy interventions, it is unlikely t...Read more...

CEP discussion paper

Special and differential treatment for developing countries

Special and Differential Treatment for Developing Countries (SDT) constitutes a central feature of the GATT/WTO system. Its formal goal is to foster export-led growth in developing countries. Its theoretical foundations ...Read more...

SERC/Urban and Spatial Programme Discussion Paper

Exploring the Geography of China's Airport Networks: A Hybrid Complex-Network Approach

Air networks are normal examples of transportation systems among ubiquitous big data networks in the dynamic nature. This is particularly the case in developing countries with rapid airport network expansions. This paper...Read more...

Journal article

The World Bank Economic Review:

The political economy of trade policy: gone for good? Subsidies with export share requirements in China: 2002-13

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...

SERC/Urban and Spatial Programme Discussion Paper

Does Better Rail Access Improve Homeowners? Happiness?: Evidence Based on Micro Surveys in Beijing

Development of urban transport infrastructures is a key policy focus---particularly in countries like China which have experienced fast urbanisation over the past decade. While existing studies provide marginal values fo...Read more...

SERC/Urban and Spatial Programme Discussion Paper

Does Public Investment Spur the Land Market?: Evidence from Transport Improvement in Beijing

Over 140 billion CNY (1GBP=10CNY) has been spent between 2000 and 2012 in Beijing on the construction of new rail transit lines. This massive public investment allows me to examine the consequences of transport improveme...Read more...

CEP discussion paper

Not all Incentives Wash out the Warm Glow: The Case of Blood Donation Revisited

The issue of the nature of the altruism inherent in blood donation and the perverse effects of financial rewards for blood and/or organ donation has been recently revisited in the economic literature with limited consens...Read more...

CEP discussion paper

Does High Involvement Management Improve Worker Wellbeing?

Employees exposed to high involvement management (HIM) practices have higher subjective wellbeing, fewer accidents but more short absence spells than ?like? employees not exposed to HIM. These results are robust to exten...Read more...

CentrePiece article

Big ideas: Innovation policy

In the last CentrePiece, John Van Reenen stressed the importance of competition and labour market flexibility for productivity growth. His latest in CEP's 'big ideas' series describes the impact of research on how policy...Read more...

SERC/Urban and Spatial Programme Discussion Paper

Investigating Agglomeration Economies in a Panel of European Cities and Regions

This paper investigates agglomeration economies in an annual panel of NUTS 2 and NUTS 3 city regions across France, Germany, Ireland, Italy, Spain and the UK over 1980-2006 and comparing three sub-samples to see if the e...Read more...

CEP discussion paper

Does High Involvement Management Lead to Higher Pay?

Using nationally representative survey data for Finnish employees linked to register data on their wages and work histories we find wage effects of high involvement management (HIM) practices are generally positive and s...Read more...

Book

The Future of Finance
The LSE Report

This book presents a novel approach to the reform of the world’s financial system, starting with the basic question, what is a financial system for? It shows that the existing system has become far more complic...Read more...

CEP policy analysis

Still time to reclaim the European Union Emissions Trading System for the European tax payer

The criteria proposed by the EU Commission to identify industries that will receive free emission permits in the third phase of the European Union Emissions Trading System (EU ETS) are not restrictive enough. Evidence fr...Read more...

SERC/Urban and Spatial Programme Discussion Paper

Trade, Wages and Productivity

We develop a new general equilibrium model of monopolistic competition with heterogeneous firms, variable demand elasticity and multiple asymmetric regions, in which trade integration induces wage and productivity change...Read more...

CEP discussion paper

How to Measure Living Standards and Productivity

This paper sets out a general algorithm for calculating true cost-of-living indices or true producer price indices when demand is not homothetic, i.e. when not all expenditure elasticities are equal to one. In principle,...Read more...

CEP discussion paper

Trade, Wages and Productivity

We develop a new general equilibrium model of monopolistic competition with heterogeneous firms, variable demand elasticity and multiple asymmetric regions, in which trade integration induces wage and productivity change...Read more...

CEP discussion paper

A Tale of Two Countries: Unions, Closures and Growth in Britain and Norway

Using linked private sector employer-employee panel data for Britain and Norway we explore the effects of unionization on workplace closure and employment growth over the period 1997-2004. Unions prolonged the life of lo...Read more...

CEP discussion paper

Employment Outcomes in the Welfare State

We examine the implications of tax and subsidy policies for employment in the 'three worlds of welfare', Anglo-Saxon, Continental European and Scandinavian. We argue that home production is key to a proper evaluation of ...Read more...

CEP discussion paper

Chain Indices of the Cost of Living and the Path-Dependence Problem: An Empirical Solution

This paper proposes an empirically feasible method for correcting the path-dependence bias of chain indices of the cost of living. Chain indices are discrete approximations to Divisia indices and it is well known that th...Read more...

CEP discussion paper

Apprenticeship in Europe: 'Fading' or Flourishing?

This paper sets out the extent and defining characteristics of apprenticeship in Europe. Apprenticeship is then situated within the wider context of European provision for education and training of 16-19 year olds and a ...Read more...

CEP discussion paper

Fixed-Term Contracts and Unemployment: An Efficiency Wage Analysis

During the 1980s, many European countries introduced fixed-term contracts to fight high and persistent levels of unemployment. Although these contracts have been widely used, unemployment has remained about the same afte...Read more...