Results

Blog

Financial Times:

How should central banks respond to US tariffs? (Podcast)

US tariffs have sent financial markets into a frenzy in recent weeks, but how much should central bankers be taking trade into account when setting monetary policy? To find out, Soumaya Keynes sits down with Bank of Engl...Read more...

CEP discussion paper

Willingness to pay for workplace amenities

We develop a revealed preference approach to measure the value of workplace amenities by analyzing how variation in non-wage job attributes affects excess mass in the earnings distribution at budget discontinuities. The ...Read more...

CEP discussion paper

Minimum wages and low wage workers: Compliance as non-employment margin

This paper examines the impact of a substantial minimum wage increase in Uruguay - a middle-income developing economy - on wages and employment. Using administrative data and a difference-in-differences approach, we anal...Read more...

CEP discussion paper

Firm-level technology adoption in times of crisis

We investigate the diffusion of frontier technologies across German firms before and during the Covid-19 crisis. Our analysis tracks the nature, timing, and pandemic-related motivations behind technology investments, usi...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...

CEP discussion paper

Teaching happiness (economics) in your dismal-science courses

This paper discusses ideas for incorporating the study of happiness and other measures of self-reported or subjective well-being (SWB) into undergraduate economics courses. We begin by motivating why students of economic...Read more...

Journal article

American Economic Review:

Fighting Climate Change: International Attitudes toward Climate Policies

This paper explores global perceptions and understanding of climate change and policies, examining factors that influence support for climate action and the impact of different types of information. We conduct large-scal...Read more...

Journal article

The Economic Journal:

Service Offshoring and Export Experience

Service inputs significantly influence export costs and firm internationalisation. A new dataset on French firms’ participation in global value chains reveals that experienced exporters are more likely to source services...Read more...

Journal article

LSE Public Policy Review:

Explaining Variation in Child Penalties: The Role of Gender Norms and Policies

This paper contributes to understanding global variation in child and marriage penalties by focusing on the role of patriarchal control, gender norms, and public policies. We introduce a new measure of gender norms, the ...Read more...

Journal article

The Review of Economics and Statistics : Forthcoming

The Value of Managers' Export Experience: Lessons from the Angolan Civil War

We investigate how managers help firms grow by entering a new export market. We conduct an event study on the decision to export to Angola using data on Portuguese firms and workers. We evaluate the impact of the presenc...Read more...

Journal article

Journal of Human Resources :

Where versus what: college value-added and returns to field of study in further education

We use administrative records on educational and labor market trajectories to estimate the value-added of English further education colleges in terms of educational and labor market outcomes and earnings returns to diffe...Read more...

Blog

LSE Euro PP:

A new measure of quality of life explains why people like living in bigger cities

People like to live in certain places, even when higher wages are on offer elsewhere. Gabriel Ahlfeldt, Fabian Bald, Duncan Roth and Tobias Seidel show that once you take into account people's preferences, large cities o...Read more...

Chapter

WELLBY

in Elgar Encyclopedia of Behavioural and Experimental Economics

The WELLBY is a measure of individual subjective wellbeing, as judged by individuals themselves, capturing both the quality of life and the length of life. We outline its use for measuring social progress and for social ...Read more...

CEP discussion paper

Paper tiger? Chinese science and home bias in citations

We investigate the phenomenon of home bias in scientific citations, where researchers disproportionately cite work from their own country. We develop a benchmark for expected citations based on the relative size of count...Read more...

CEP discussion paper

Return innovation: The knowledge spillovers of the British migration to the United States, 1870-1940

This paper documents that out-migration promotes the diffusion of innovation from the country of destination to the country of origin of migrants. Between 1870 and 1940, nearly four million British immigrants settled in ...Read more...

Journal article

Industrial and Corporate Change:

More or the same? Radical, disruptive, discontinuous, and breakthrough innovation

This paper addresses the conceptual ambiguity in the literature on exceptional innovations, labeled “radical,” “disruptive,” “breakthrough,” or “discontinuous.” A bibliometric analysis of 4407 articles shows that differe...Read more...

Journal article

American Economic Review:

Five Facts about MPCs: Evidence from a Randomized Experiment

We present five facts from an experiment on the marginal propensity to consume (MPC) out of transitory transfers: (1) the one-month MPC on a cash-like transfer is 23 percent; (2) it is substantially higher (61 percent) o...Read more...

Journal article

Research Policy:

Who stands on the shoulders of Chinese (Scientific) Giants? Evidence from chemistry

China’s rise in science has the potential to push forward the knowledge frontier, but mere production of knowledge does not guarantee that others are able to build on it. We ask whether chemistry research originating fro...Read more...

Blog

Vox EU:

Leveraging AI to navigate 'deglobalisation'

Trade wars, industrial policy, and myriad other supply chain disruptions have fast become the 'new normal'. Yet, given the highly opaque and complex nature of production processes, knowing how to navigate this rise of de...Read more...

CEP discussion paper

Measuring quality of life under spatial frictions

Using a quantitative spatial model as a data-generating process, we explore how spatial frictions affect the measurement of quality of life. We find that under a canonical parameterization, mobility frictions - generated...Read more...

Chapter

Crime and the labor market

in Handbook of Labor Economics

The economics of crime has emerged as a critical field over the past 30 years, with economists increasingly exploring the causes and consequences of criminal behavior. This chapter surveys key contributions and developme...Read more...

Journal article

Oxford Review of Economic Policy:

Ethnic minority and migrant pay gaps over the life-cycle

It is well-known that ethnic minority and migrant workers have lower average pay than the White UK-born workforce. However, we know much less about how these gaps vary over the life-cycle because of data limitations. We ...Read more...

CEP discussion paper

Transitional costs and the decline in coal: Worker-level evidence

The outside options available to workers critically determine the transitional costs of labor demand shocks. Using comprehensive administrative data, we examine the worker-level effects of the decline of coal - a regiona...Read more...

CEP discussion paper

Crime and the labor market

The economics of crime has emerged as a critical field over the past 30 years, with economists increasingly exploring the causes and consequences of criminal behavior. This chapter surveys key contributions and developme...Read more...

Blog

Promarket:

Does Domestic Competition Help EU Firms Compete Abroad?

In a survey of nearly 400 European firms that export abroad, Elena Argentesi, Livia De Simone, Stephan Paetz, Vincenzo Scrutinio find that most firms believe that competition forces them to produce cheaper and higher qua...Read more...

Journal article

American Economic Journal: Macroeconomics:

International Friends and Enemies

We examine whether, as countries become more economically dependent on a trade partner, they realign politically toward that trade partner. We use network measures of economic exposure to foreign productivity growth deri...Read more...

Journal article

Journal of Public Economics:

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...

Blog

Vox EU:

Closing the health gap: How chronic illness drives health inequality early on

Though health disparities have long been the subject of research and debate, life expectancy gaps between rich and poor remain striking, even in countries with universal access to healthcare. This column analyses the roo...Read more...

CEP discussion paper

Valuing consumption services as technology transforms accessibility: Evidence from Beijing

Home delivery reduced the value of cities as locations to access variety in durable consumption goods. Food delivery services (FDS) are doing the same for restaurants. Home-streaming of sports or home-delivered restauran...Read more...

Blog

Vox Talks (podcast):

The economics of strategy (podcast)

Organisations don't just provide employment: they solve, or attempt to solve, important problems in our society. Organizational economics has made some impressive strides in recent years to show what choices organisation...Read more...

Journal article

Journal of the Association of Environmental and Resource Economists,:

Management Practices and Climate Policy in China

We investigate how management quality moderates the impact of carbon pricing on Chinese firms. Based on interviews with managers and lead engineers at manufacturing firms in Hubei and Beijing, we construct a novel index ...Read more...

Blog

Vox EU:

The speed of firm response to inflation

Firm inflation expectations are a key driver of future price growth. This column uses a large economy-wide business survey to understand the response of firms to monthly CPI inflation releases in the UK. Firms' CPI infla...Read more...

CEP discussion paper

Brexit and investment

In 2016, the UK voted to leave the European Union and growth in UK manufacturing investment ground to a halt. This paper uses administrative trade data to investigate the causal relationship between these events. We expl...Read more...

Blog

The Rest is Money (podcast):

Bank of England Economist: Interest rates must be cut (podcast)

Economist and external member of the Bank of England's Monetary Policy Committee, Swati Dhingra talks to Robert and Steph about why she thinks the time has come to lower Bank Rate, the interest rate set by the Bank of En...Read more...

Journal article

The Economic Journal:

Personnel Management and School Productivity: Evidence from India

This paper uses new data to study school management and productivity in India. We report five main results. First, management quality in public schools is low, and -2 standard deviations below high-income countries with ...Read more...

Journal article

Critical Sociology: Forthcoming

A Popular Backlash against Globalization?

Is there a popular backlash against globalization? When did it start and in which forms? What do we know about its causes? We address these questions in the context of advanced democracies. We see the ‘globalization back...Read more...

CEP discussion paper

Disaster management

Climate change is making natural disasters more frequent, yet little is known about the capacity of firms to withstand such disasters and adapt to their increased frequency. We examine this issue using the latest wave of...Read more...

Journal article

AEA Papers and Proceedings:

The Changing Nature of Pollution, Income, and Environmental Inequality in the United States

This paper uses tax records linked to administrative Census data and high-resolution measures of air pollution exposure (PM2.5) to study the evolution of the Black-White pollution exposure gap since 1984. We decompose ch...Read more...

Journal article

American Economic Journal: Microeconomics:

Technology Transfer in Global Value Chains

Global value chains create opportunities for North-South technology diffusion. This paper studies technology transfer in value chains when contracts are incomplete and input production technologies are imperfectly exclud...Read more...

CEP discussion paper

Accounting for the evolution of China's production and trade patterns

This paper studies the evolution of China's production and trade patterns during its integration into the global economy. We document and explain new facts concerning changes in production and exports at the industry and...Read more...

CEP discussion paper

Leaving the global playing field through optimal non-discriminatory corporate taxes and subsidies

Due to markup distortions, in international trade models with monopolistic competition and heterogeneous firms the market equilibrium is inefficient unless demand exhibits constant elasticity of substitution. When it doe...Read more...

Journal article

Annual Review of Economics:

Industrial Policy and the Great Divergence

We discuss recent work evaluating the role of the government in shaping the economy during the long nineteenth century, a practice we refer to as industrial policy. States deployed a vast variety of different policies ai...Read more...

Journal article

Journal of the European Economic Association :

Formation of College Plans: Expected Returns, Preferences and Adjustment Process

We exploit a large exogenous shock to study the formation, and updating, of educational plans, and to examine how these plans ultimately impact later educational attainment. Using novel, longitudinal, microdata on cohort...Read more...

Journal article

The Economic Journal:

Immigration, Female Labour Supply and Local Cultural Norms

We study the local evolution of female labour supply and cultural norms in West Germany in reaction to the sudden presence of East Germans who migrated to the West after reunification. These migrants grew up with high ra...Read more...

Journal article

The Economic Journal:

Commuting for crime

People care about crime, with the spatial distribution of both actual and perceived crime affecting the amenities from living in different areas and residential decisions. The literature finds that crime tends to happen ...Read more...

Journal article

The Review of Economic Studies:

Using Disasters to Estimate the Impact of Uncertainty

Uncertainty rises in recessions and falls in booms. But what is the causal relationship? We construct cross-country panel data on stock market returns to proxy for first- and second-moment shocks and instrument these wit...Read more...

Journal article

Journal of Labor Economics: Forthcoming

Technological Change and Domestic Outsourcing

Domestic outsourcing has grown substantially in developed countries over the past two decades. This paper addresses the question of the technological drivers of this phenomenon by studying the impact of the staggered dif...Read more...

CentrePiece article

How much is your time worth?

Wages indicate how much people want for their time at work, but how can we find out what value they place on time spent doing other things? Christian Krekel and George MacKerron analyse over two million responses to a sm...Read more...

Blog

What Works Centre for Local Economic Growth:

Lessons for business support schemes from a large RCT in the UK

Productivity in the UK is stagnant and improving firm performance a key policy objective. Almost a decade ago, the UK government undertook an ambitious randomised control trial - the Growth Vouchers Programme - which pro...Read more...

CEP discussion paper

Firms in product space: Adoption, growth and competition

Which products are potentially produced together? When demand for a product increases, which firms will supply it? Using multi-product production patterns within and across firms, we recover a continuous cost based dista...Read more...

Journal article

Journal of the European Economic Association:

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...

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...

CEP discussion paper

Does subsidising business advice improve firm performance? Evidence from a large RCT

We evaluate the impact of the UK's Growth Vouchers Programme, which offered subsidised business advice to 15,207 randomly selected small and medium size enterprises. Using administrative and survey data, we show that the...Read more...

CEP discussion paper

Global managers, local workers: Wage setting inside a multinational firm

How are wages set within a multinational firm? Combining cross-country data on wages and labor regulations with personnel records of a large multinational firm, I find that wage setting depends on the rank of the employe...Read more...

CEP discussion paper

Estimating the longevity of electric vehicles: What do 300 million MOT test results tell us?

Knowing how long the average vehicle remains roadworthy before being scrapped is a crucial input into life cycle assessment (LCA) and total cost of ownership (TCO) studies of different vehicle powertrains. This study lev...Read more...

Journal article

PLoS ONE :

Access to digital finance: Equity crowdfunding across countries and platforms

Financing entrepreneurship spurs innovation and economic growth. Digital financial platforms that crowdfund equity for entrepreneurs have emerged globally, yet they remain poorly understood. We model equity crowdfunding ...Read more...

Journal article

AEA Papers and Proceedings:

Parenthood and Academic Career Trajectories

Women continue to be underrepresented in the field of economics, especially among permanent faculty. As parenthood is an important driver of gender inequality in the labor market, we study the impact of children on the a...Read more...

Journal article

Journal of Environmental Psychology: Forthcoming

Working memory and fluid intelligence are differentially related to categories of urban fabric in older adults: Results from the Berlin aging study

Urbanization is Globally increasing at a rapid rate but its consequences for mental health, including cognitive functioning, are not well understood. In particular, little is known about the effects of different morpholo...Read more...

Journal article

Research in Labor Economics:

Effort at Work and Worker Well-Being

This chapter analyzes detailed 24-hour diary data from the United States to provide evidence on the relationship between workers’ effort and well-being while at work. In doing so, we first measure workers’ effort in term...Read more...

CEP discussion paper

Rethinking revealed comparative advantage with micro and macro data

The Balassa's index of revealed comparative advantage does not necessarily reveal Ricardian comparative advantage. We propose an alternative sufficient statistics approach based on a quantitative standard trade model inc...Read more...

CEP discussion paper

Urban-biased structural change

Using firm-level data from France, we document that the shift of economic activity from manufacturing to services over the last few decades has been urban-biased: structural change has been more pronounced in areas with ...Read more...

Journal article

The Review of Economic Studies:

A Theory of Falling Growth and Rising Rents

Growth has fallen in the U.S. amid a rise in firm concentration. Market share has shifted to low labour share firms, while within-firm labour shares have actually risen. We propose a theory linking these trends in which ...Read more...

Journal article

Research Policy: Forthcoming

A new dataset to study a century of innovation in Europe and in the US

Innovation is an important driver of potential growth but quantitative evidence on the dynamics of innovative activities in the long-run are hardly documented due to the lack of data, especially in Europe. In this paper,...Read more...

Journal article

American Economic Review :

The Impact of Regulation on Innovation

We present a framework that can be used to assess the equilibrium impact of regulation on endogenous innovation with heterogeneous firms. We implement this model using French firm-level panel data, where there is a sharp...Read more...

CEP discussion paper

Regional productivity differences in the UK and France: From the micro to the macro

We propose a new data resource that attempts to overcome limitations of standard firm-level datasets for the UK (like the ARD/ABS) by building on administrative data covering the population of UK firms with at least one ...Read more...

Blog

Liberty Street Economics:

Do Large Firms Generate Positive Productivity Spillovers?

Mary Amiti, Cedric Duprez, Jozef Konings and John Van Reenen investigate whether large firms also generate positive effects. Using firm-to-firm transaction data for an industrialised country, Belgium, they find that larg...Read more...

CEP discussion paper

Industrial policy and the great divergence

We discuss recent work evaluating the role of the government in shaping the economy during the long 19th century, a practice we refer to as industrial policy. We show that states deployed a vast variety of different poli...Read more...

CEP Covid-19 analysis

The self-employment trap?

The seventh LSE-CEP survey of the self-employed was undertaken in June 2023. The results revealed that the self-employed are still in the doldrums and their incomes and activity have not resumed to pre-pandemic levels. T...Read more...

CEP discussion paper

Do larger firms exert more market power? Markups and markdowns along the size distribution

Several models posit a positive cross-sectional correlation between markups and firm size, which characterizes misallocation, factor shares, and gains from trade. Accounting for labor market power in markup estimation, w...Read more...

Submission to a parliamentary inquiry and government consultation

Bank of England Monetary Policy Reports

The Bank of England publishes a Monetary Policy Report four times a year. After publication, the Treasury Committee holds sessions with the Governor of the Bank of England and members of the Monetary Policy Committee to ...Read more...

Blog

Vox EU:

Price-setting in a high-inflation environment

Since 2021, inflation rates have increased sharply in many advanced economies. Philip Bunn, Nicholas Bloom, Paul Mizen, Ozgen Ozturk, Gregory Thwaites and Ivan Yotzov study firm pricing strategies during the recent perio...Read more...

Journal article

The Economic Journal:

Unraveling firms: demand, productivity and markups heterogeneity

We develop a novel framework that simultaneously allows recovering heterogeneity in demand, quantity TFP and markups across firms while leaving the correlation between the three dimensions unrestricted. We accomplish thi...Read more...

CEP discussion paper

Back to Edgeworth? Estimating the value of time using hedonic experiences

Following early economist Francis Y. Edgeworth's proposal to measure people's hedonic experiences as they go about their daily lives, we use a smartphone app that over seven years randomly asked a panel of 30, 928 UK res...Read more...

Journal article

Journal of Human Resources:

Parental Education and the Responses to Higher SAT Scores

Using discontinuities within the Swedish SAT system, we study the causal impact of additional admission opportunities on participation in higher education among high-ability students. Students with low-educated parents w...Read more...

Journal article

Journal of Urban Economics: Forthcoming

The long shadow of local decline: birthplace economic adversity and long-term individual outcomes in the UK

Does growing up in a high-economic adversity area matter for individual economic, cultural, and political views? Despite a significant focus upon the effect of birthplace on economic outcomes, there is less evidence on h...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...

External publication

Low pay Britain 2023

After a decade and a half of relative economic decline, Britain needs a new economic strategy. This paper considers what it would mean to put good work centre stage. It requires us to go far beyond the narrow focus this ...Read more...

Journal article

American Economic Review:

Globalization and pandemics

We provide theory and evidence on the relationship between globalization and pandemics. Business travel facilitates trade and travel leads to human interactions that transmit disease. Trade-motivated travel generates an ...Read more...

CEP discussion paper

Who stands on the shoulders of Chinese (scientific) giants? Evidence from chemistry

China's rise in science has the potential to push forward the knowledge frontier, but mere production of knowledge does not guarantee that others are able to build on it. We ask whether chemistry research originating fro...Read more...

Journal article

International Review of Economics and Finance :

Bank default risk propagation along supply chains: evidence from the UK

How does banks' default risk affect the probability of default of non-financial businesses? The literature has focused on the banks' direct corporate customers. It fails to consider the role of supply chain relationships...Read more...

CentrePiece article

Why have energy bills been rising?

The UK has been particularly exposed to the global energy crisis - partly due to the country's dependence on gas for heating and electricity generation, and partly its poorly insulated housing stock. After predictions th...Read more...

CEP discussion paper

Robot adoption, worker-firm sorting and wage inequality: evidence from administrative panel data

Leveraging the geographic dimension of a large administrative panel on employer-employee contracts, we study the impact of robot adoption on wage inequality through changes in worker-firm assortativity. Using recently de...Read more...

CEP Covid-19 analysis

From Covid-19 to collapse? The self-employed and the cost of living crisis

The sixth LSE-CEP survey of the self-employed was undertaken in November 2022 and found that the downward trend in income levels of the self-employed reported in May 2022 has continued. The cost of living crisis is hitti...Read more...

Journal article

Research Policy: Forthcoming

Global value chains and domestic innovation

This paper explores how changes in both position and participation in Global Value Chain (GVC) networks affect firm innovation. The analysis combines matched patent-firm data for Japan with measures of GVC network centra...Read more...

Journal article

Review of Income and Wealth :

The well-being cost of inflation inequalities

In terms of well-being, how costly is inflation? To answer this question, empirical evaluations have typically studied average inflation rates at the national level, thus disregarding the role of inflation inequalities w...Read more...

CEP discussion paper

(In)convenient stores? What do policies pushing stores to town centres actually do?

England's Town Centre First Policy, introduced in 1996, restricted the opening of new retail and other 'traditional town centre activities' to 'Town Centre' (TC) locations. The aim was to halt the decay of high streets. ...Read more...

CEP discussion paper

Non-tariff barriers and consumer prices: evidence from Brexit

Non-Tariff Barriers (NTBs) are the main policy impediment to international trade, yet little is known about their pass-through to prices. This paper exploits the Brexit trade policy shock to quantify how NTBs affect cons...Read more...

CEP discussion paper

The wage elasticity of recruitment

One of the factors affecting the market power of employers is the extent to which higher wages makes recruitment easier. There is very little research on this. This paper presents a methodology for estimating the wage el...Read more...

Journal article

Review of Economic Studies :

The design of teacher assignment: theory and evidence

To assign teachers to schools, a modified version of the well-known deferred acceptance mechanism has been proposed in the literature and is used in practice. We show that this mechanism fails to be fair and efficient fo...Read more...

Journal article

The Economic Journal:

Teacher effectiveness and classroom composition: understanding match effects in the classroom

This paper provides evidence of match effects in the teacher labour market by considering how teacher effectiveness varies by classroom composition. We combine random assignment of teachers with rich measures of teaching...Read more...

Journal article

Journal of Political Economy: Forthcoming

The comparative advantage of firms

Resource-based theories propose that firms grow by diversifying into products that use common capabilities. We provide evidence for common-input capabilities, using a policy that removed entry barriers in input markets t...Read more...

Blog

LSE British Politics and Policy :

Why have energy bills in the UK been rising?

The UK is particularly exposed to the energy crisis sweeping across the world. After predictions that annual household bills were due to rise from around £1,000 to £3,500 in October 2022, the government announced it woul...Read more...

CEP discussion paper

Sparse production networks

Firm-to-firm connections in domestic and international production networks play a fundamental role in economic outcomes. Firm heterogeneity and the sparse nature of firm-to-firm connections implicitly discipline network ...Read more...

CEP discussion paper

Firms and inequality when unemployment is high

How important are firms for wage inequality in developing countries where structural unemployment is high? Research focused on contexts close to full employment has suggested a substantial role of firms in labor market i...Read more...

Journal article

Economics Letters:

Firm-destination heterogeneity and the distribution of export intensity

We derive closed-form expressions for the distribution of export intensity when firm-destination-specific revenue shifters are distributed gamma, Frechet and Weibull in a two-country model of trade with isoelastic demand...Read more...

CEP discussion paper

The well-being cost of inflation inequalities

In terms of well-being, how costly is inflation? To answer this question, empirical evaluations have typically studied average inflation rates at the national level, thus disregarding the role of inflation inequalities w...Read more...

Blog

Economics Observatory:

Is inflation avoidable?

Inflation in the UK is at a 40 year high, with prices rising across the economy. Shoppers can look for cheaper products, but many are already buying the lowest-cost options and the prices of those bargains are going up f...Read more...

Blog

Economics Observatory:

Are wages keeping up with the cost of living?

There is currently much debate about whether pay should keep pace with either productivity or inflation. How we measure price growth has a big influence on what we observe, shedding light on how different parts of the ec...Read more...

Journal article

Nature Communications: Forthcoming

The effect of Covid certificates on vaccine uptake, health outcomes, and the economy

In the COVID-19 pandemic many countries required COVID certificates, proving vaccination, recovery, or a recent negative test, to access public and private venues. We estimate their effect on vaccine uptake for France, G...Read more...

Journal article

Journal of Political Economy:

The origins of firm heterogeneity: a production network approach

We explore firm size heterogeneity in production networks. In comprehensive data for Belgium, firms with more customers have higher total sales but lower sales and lower market shares per customer. Downstream factors, es...Read more...