Results

Blog

LSE British Politics and Policy:

What the price-to-rent ratio reveals about Britain's housing crisis

The consensus that Britain's housing crisis stems from the lack of enough houses being built has received intense criticism lately. Christian Hilber and Andreas Mense analyse the price-to-rent ratio of UK homes and argue...Read more...

Book

Why Immigration Policy Is Hard: And How to Make It Better

Immigration policy is hard, involving difficult decisions and trade-offs. But, as Alan Manning - former chair of the UK's Migration Advisory Committee - makes clear, this doesn't mean that we can't do much better. We sh...Read more...

Blog

The Conversation:

Could new tenants' rights usher in rent controls? Here's why that wouldn't necessarily be a positive

The new Renters' Rights Act introduces provisions to protect tenants in England against rent increases. While the UK government says it "does not support the introduction of rent controls", the act does allow tenants to ...Read more...

CEP discussion paper

Cleaner energy, higher risk? Firm-level exposure to critical minerals

To what extent has the rise of clean energy technologies created new vulnerabilities in global supply chains? In this paper, I study the role of a new type of 'input uncertainty' associated with critical minerals that un...Read more...

Blog

The Conversation:

How new renters' rights could drive landlords out of the market

Many elements of the renters' rights bill are likely to improve the lives of renters without harming landlords. But some of the improvements for tenants will make being a landlord more difficult or even, for some, undesi...Read more...

Blog

Economics Observatory:

What policies could kick-start economic growth in the UK?

For two decades, the UK economy has seen weak growth, driven by low business investment, inadequate market dynamism and persistent policy instability. These failures shape the daily reality of households whose living sta...Read more...

CEP discussion paper

Equilibrium trade regimes: power- vs. rules-based

Members of the World Trade Organization are increasingly disregarding its rules, raising concerns about the future of the multilateral trading system. To analyze the sustainability of the rules-based trade regime, we dev...Read more...

CentrePiece article

Deglobalisation in disguise?

Brexit means that UK exporters of services now face more red tape and fewer opportunities....Read more...

CEP occasional paper

Structured wellbeing curriculum in schools

Some argue that school is a means to an end, and time spent in lessons may be unpleasant, but it helps these children in the future. The question is 'to what end'. Are school years something which have to be tolerated i...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...

External report

Policy Landscape 2025:

Housing (chapter)

As Parliament returns from its summer recess, the Resolution Foundation and UK in a Changing Europe have partnered to produce the Policy Landscape 2025 report - a series of evidence-led, research-based assessments of the...Read more...

Blog

What works centre for local economic growth:

Understanding the drivers of productivity: Skills

This blog is the first in our new series on the drivers of productivity. The drivers of productivity include skills, investment, innovation, enterprise and competition, and land. This blog focuses on skills, and compleme...Read more...

Blog

What works centre for local economic growth:

Can expanding airports help local growth take off?

August means airports, and now that air travel has rebounded from the lows during the Covid-19 pandemic to reach levels where globally there are more flights than ever, airports face bigger and bigger tests on their capa...Read more...

Blog

The Conversation:

Housebuyers hate stamp duty. Why hasn't it been reformed before now?

For years, academic economists have argued that council tax and stamp duty are deeply flawed. But now the UK government is said to be considering a change to stamp duty so that it is only paid on houses selling for more ...Read more...

Blog

LSE British Politics and Policy:

Britain is falling behind the US, and productivity is largely to blame

The gap in living standards between the UK and US has widened sharply in recent years. Aadya Bahl argues that reversing this trend means confronting the UK's deep-rooted productivity and investment challenges....Read more...

Blog

Liberty Street Economics:

How Firms Spread Good Management

What is good management, and how is it transmitted across firms and plants? In a recent paper, we use survey and administrative data, coupled with a structural model of management, to explore these questions. We show tha...Read more...

Blog

Vox EU:

The impact of the 2025 US tariff announcements on UK firms

In the first half of 2025, the US and some of its trading partners announced significant changes to import tariffs. This column uses newly designed questions to study the impact of these changes on UK firms and to assess...Read more...

Blog

UK in a Changing Europe:

Deglobalisation in disguise?

Shania Bhalotia, Swati Dhingra and Danyal Arnold explain their study on the effect of Brexit on the UK's ability to export services abroad. They argue that exporters now face higher trade costs, more red tape and fewer o...Read more...

Blog

Economics Observatory:

The UK's new industrial strategy: what does it mean for Manchester?

To succeed, the industrial strategy needs to build strong local ecosystems in places where the eight priority sectors can thrive. The example of Greater Manchester shows why investment must be joined-up and focused on ma...Read more...

Blog

LSE British politics and policy:

Universities are engines of growth and must be backed by policy

The Industrial Strategy identifies growth-driving sectors that will require a highly-skilled workforce. Higher education will be a key to unlocking this ambition. But as universities aim to recruit the best talent from a...Read more...

Blog

What works centre for local economic growth:

Multiplying the benefits of Local Growth Plans

Last month the government published new guidance for Mayoral Strategic Authorities on Local Growth Plans. These are a key foundation of the new Industrial Strategy and the government's ambitions for devolution, as well a...Read more...

CentrePiece article

in brief... How the Trump tariffs affect UK firms

How should UK exporters react to the tariffs imposed by President Trump? While some may start planning to increase production in the United States to avoid the tax, others whose US customers are less price-sensitive may ...Read more...

Blog

Centre for Cities:

A review of the Green Book review

While correctly rejecting criticisms that existing guidance is biased, the latest Green Book review suggests changes that should improve appraisal and decision making....Read more...

Government consultation

Treasury Committee: National Wealth Fund

Professor Neil Lee gives evidence to the Commons Treasury Committee. The committee is asking whether the National Wealth Fund has the right tools and backing to drive meaningful economic growth...Read more...

Blog

LSE Inequalities:

Tariffs, automation and inequality: why US jobs won't return but developing countries will still lose

Headlines around Trump's sweeping tariffs have focused on trade wars, inflation and the geopolitical fallout. But a more profound shift is taking place, argues Viet Nguyen-Tien. Rather than restoring American jobs, these...Read more...

External report

A joined-up approach to UK skills policy

It is generally accepted that skills are a key driver of economic productivity and economic dynamism. They are a means by which individuals and communities can become resilient to social and economic change and are a key...Read more...

Government consultation

Treasury Committee: Bank of England Monetary Policy Reports

Swati Dhingra gave oral evidence to the Treasury committee....Read more...

Blog

Economics Observatory:

China Crisis

Headlines about China are dominated by the vagaries of trade war with the United States. Beyond those battles, there are big issues around consumer spending, the real estate market, the Belt and Road Initiative, and the ...Read more...

Blog

Academy of Social Sciences:

Closing the UK's productivity gap requires targeted investment

Aadya Bahl and Henry Overman discuss the difficult but essential decisions the UK Government must make to target investment strategically so that we can close the country's productivity gap and create economic growth. In...Read more...

Blog

LSE British Politics and Policy:

Rethinking public investment in Greater Manchester's regeneration

Manchester United's proposed new stadium comes with a hefty price tag, and uncertainty over who will pay for it. Aadya Bahl argues that public funding for such projects might compete with Greater Manchester's broader eco...Read more...

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...

Blog

LSE Politics and Policy:

Why the social care visa had to go

One of the changes to the UK work migration regime announced in this week's White Paper was that care workers could no longer be hired directly from abroad. To some this return to the pre-2021 system was an act of econom...Read more...

Government consultation

Science, Innovation and Technology Committee - Innovation, growth and the regions

Neil Lee gave evidence to the science, innovation and technology committee about the UK's innovation ecosystem and how it compares to other countries....Read more...

Blog

LSE Business Review:

How the Trump tariffs affect UK firms

How should UK exporters react to the tariffs imposed by President Trump? Some manufacturers may decide to increase production in the US, but those with loyal US consumers who are relatively insensitive to price changes m...Read more...

Blog

LSE Politics and Policy:

How will US tariffs affect the UK economy?

In this interview with Alexis Papazoglou, Thomas Sampson explains what the US tariffs mean for the UK economy and answers questions on the effects of Brexit on the UK's ability to negotiate the tariffs, as well as on wha...Read more...

Blog

LSE Politics and Policy:

How emigration shapes the diffusion of new technologies

A central driver of economic growth is new technology. Gaia Dossi and Davide Coluccia show how migrants from Britain to the US in the late 19th and early 20th century not only brought new ideas with them but helped US in...Read more...

Blog

The ECB Blog:

AI can boost productivity - if firms use it

We constantly hear of exciting new ways AI tools can help to tackle economic problems and the productivity gains they bring. However, benefits can only materialize when firms actually use AI....Read more...

Blog

LSE Politics and Policy:

Better unemployment benefits could boost productivity and growth

The UK's job seeker's allowance for those who lose their job is much lower than the OECD average. Aadya Bahl argues that improving unemployment support is key not just for protecting workers but also for unlocking econom...Read more...

External report

World Happiness Report 2025

In this year's issue, we focus on the impact of caring and sharing on people's happiness. Like 'mercy' in Shakespeare's Merchant of Venice, caring is "twice-blessed" - it blesses those who give and those who receive. In ...Read more...

Blog

Academy of Social Sciences:

Policies to promote productivity and wage growth for less educated workers

In this piece, Professor Richard Blundell FAcSS, Professor Rachel Griffith FAcSS and Professor Sally McNally explore how improving educational outcomes for children growing up in deprivation, including social skills in t...Read more...

CEP discussion paper

Firm climate investment: A glass half-full

We analyse the importance of climate-related investment using a large economy-wide survey of UK firms. Over half of firms expect climate change to have a positive impact on their investment in the medium term, with aroun...Read more...

Blog

What works centre for local economic growth:

Thinking through multipliers: small numbers, big value

Last week we held the second in our current series of breakfast briefing webinars - Thinking through multipliers: Learning from BBC relocation. The event focused on what multipliers are and why local growth policymakers ...Read more...

CentrePiece article

How Brexit affected the trade of UK firms

The UK left the EU’s single market and customs union at the start of 2021, entering into the Trade and Cooperation Agreement with the EU. Rebecca Freeman, Marco Garofalo, Enrico Longoni, Kalina Manova, Rebecca Mari, Thom...Read more...

CentrePiece article

Property rights empower women inventors

Breakthrough innovations occurred when women obtained the right to reap economic rewards from their inventions. Ruveyda Nur Gozen shows how such inclusive policies are a critical driver of economic growth....Read more...

Blog

What works centre for local economic growth:

Effective devolution: why evidence and evaluation are key to success

Last week we held the first in our latest series of breakfast briefing webinars. This event focused on how local governments can prepare themselves to make the most of the devolution of local growth policy. Our remaining...Read more...

CEP report

Minimum wage effects: adjustment through labour market dynamics and alternative work arrangements

This report investigates the UK's 2016 National Living Wage (NLW) introduction, focusing on firm adjustment through labour market transitions and job contract amendments. The NLW boosted worker wages, and whilst there wa...Read more...

Blog

LSE Politics and Policy:

Trump's tariffs will put post-Brexit trade policy to the test

With Donald Trump's inauguration imminent, there are questions over the potential consequences of one of his signature policies: tariffs. While during the first Trump administration the UK wasn't too affected by the impo...Read more...

Blog

Economics Observatory:

Do cities and regions gain from public sector relocation?

Moving public agencies out of London was a major plank of the levelling-up agenda. The effects on local economies seem smaller than hoped - and it's important to compare them with those of other tools of regional policy:...Read more...

Blog

LSE British Politics and Policy:

How Brexit affected the trade of UK firms

The UK left the EU's single market and customs union at the start of 2021, entering unto the Trade and Cooperation Agreement with the EU. Rebecca Freeman, Marco Garofalo, Enrico Longoni, Kalina Manova, Rebecca Mari, Thom...Read more...

Government consultation

Invest 2035: the UK's modern industrial strategy

This document presents the submission made in response to the consultation on "Invest 2035: the UK's modern industrial strategy." The consultation was conducted by the Department for Business and Trade from 14 October 20...Read more...

CEP discussion paper

Assessing the costs of balancing college and work activities: The gig economy meets online education

Balancing the demands of work and schooling is a challenging task for an increasing number of students who have to pay their way through college and for workers who intend to upgrade their skills. However, flexible learn...Read more...

Blog

What Works Centre for Local Economic Growth:

Budgeting for evaluation

In the budget last week, the government set out increased funding for public services and investment. The gamble is that increased public spending can successfully spur the growth needed to pay for it down the line. Impa...Read more...

Blog

The local economic development podcast:

Spatial rebalancing with Henry Overman - Econ 101 for local growth

Can 'Economics 101' and radical incrementalism reshape local economic development? David and Mike explore this and more with Professor Henry Overman. Tune in for a deep dive into practical economic strategies and their i...Read more...

CentrePiece article

AI and climate action: how UK firms are responding

Are businesses in the UK embracing artificial intelligence? And what are they doing to meet net-zero targets? Juliana Oliveira-Cunha, Bruno Serra-Lorenzo and Anna Valero report on how employers believe the two big upheav...Read more...

Government consultation

Industry and Regulators Committee

The UK is a service-led economy, with strengths in sectors such as financial and business services, the creative and cultural industries, and life sciences, which together employ 20% of the workforce. To build on these s...Read more...

Blog

What works Centre for Local Economic Growth:

What might plans for a new industrial strategy mean for local growth?

On Monday, the Government published their green paper for a new national industrial strategy. This sets out the broad direction of their plan for industrial strategy and the thinking behind it, before the full strategy w...Read more...

Blog

LSE Inequalities:

Sliding down the Great Gatsby curve in search of the Scandinavian dream

The new UK government has separate missions to break down the barriers to opportunity and to boost growth - together, the "Scandinavian dream". The problem, write Steve Machin and Lee Elliot Major, is Britain's high leve...Read more...

CEP discussion paper

Why do flexible work arrangements exist?

This paper studies flexible work arrangements, with a focus on zero-hours contracts (ZHCs). Leveraging a unique dataset from a large UK firm in the low-pay sector, it provides novel descriptives on ZHC workers, as well a...Read more...

Blog

Project Syndicate:

Can Europe create an innovation economy?

After the 30 "glorious" years of economic growth following World War II, European policymakers failed to adopt the institutions and policies to promote disruptive innovation. Now, Europe urgently needs to adopt a new eco...Read more...

Blog

The Rest is Money:

The economics of happiness (podcast)

Robert and Steph are joined by Lord Richard Layard, a 90 year old economist who has dedicated his life to researching and encouraging politicians to consider the happiness of their populations when taking decisions. Th...Read more...

Blog

IMF Finance and Development magazine:

A fivefold increase in remote work since the pandemic could boost economic growth and bring wider benefits

Economics is famous for being the dismal science. Sadly, recent work highlighting the slowdown in productivity growth stretching back to the 1950s is no exception. But here Nicholas Bloom takes a more cheerful view becau...Read more...

Chapter

World Happiness Report: origins, purpose, contents, impact and future

in Encyclopedia of Happiness, Quality of Life and Subjective Wellbeing

Read more...

Blog

LSE Business Review:

The educational choices of British 16-year-olds matter for the economy

The choices that British 16-year-olds are making in the next few weeks about their future studies matter not just for them and their families but also for the nation's economy. Britain needs a workforce with graduate-le...Read more...

Blog

Grantham Research Institute on Climate Change and the Environment:

Harnessing the UK's strengths for green growth

Esin Serin and Pia Andres set out evidence on the UK's sectoral and technological strengths to assist policymakers as they consider how to allocate support across the economy in a way that maximises green growth opportun...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...

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...

Blog

LSE Review of Books:

This time no mistakes: How to remake Britain - review

In This Time No Mistakes, Will Hutton examines the causes of Britain's political and economic dysfunction and calls for a new public philosophy combining social democracy and progressive liberalism to redress current cri...Read more...

Journal article

Review of Economics and Statistics:

A Year Older, A Year Wiser (and Farther from Frontier): Invention Rents and Human Capital Depreciation

We look at how the arrival of an invention affects wage returns and the probability of moving out of employment for white- and blue-collar co-workers of the inventor. First results suggest that older workers are hurt by ...Read more...

CEP election analysis

Research evidence on key issues in the 2024 UK General Election

A collection of 11 briefings produced by CEP during the 2024 general election campaign providing a snapshot of the UK economy....Read more...

Blog

LSE Business Review:

What an LSE-CBI survey reveals about net-zero action in UK firms

Sustainability is the focus of this second blog post about the survey of UK businesses carried out by LSE's Centre for Economic Performance and the Confederation of British Industry. Juliana Oliveira-Cunha, Bruno Serra-L...Read more...

Blog

LSE Business Review:

The UK must invest in further and higher education

Education has not been a prominent part of the election debates, and further education even less so. But as Sandra McNally, Guglielmo Ventura and Gill Wyness argue, economic growth depends on paying much more attention t...Read more...

Blog

Vox EU:

Gendered change: 150 years of transformation in US hours

The 2023 Nobel Committee awarded the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel to Claudia Goldin. Among her many contributions is the emphasis on the non-monotonic trend in women's employment...Read more...

CEP election analysis

Energy and climate change

The scale of change and investment required for net zero is challenging, but early action is the most cost-effective way to achieve the 2050 target and could bring opportunities....Read more...

Blog

LSE Business Review:

What an LSE-CBI survey found about AI adoption in UK firms

The crises and changes of the 2020s have provided many challenges for UK firms, and these occurred against a background of stagnant productivity since the financial crisis. But crises can also force productivity-enhancin...Read more...

Blog

What Works Centre for Local Economic Growth:

How can the next government ensure better evidence use for achieving economic growth?

Whichever party wins this week's election will face big challenges, including achieving stronger local economic growth. Knowing how to do this - which mix of interventions will be most effective, and where to target them...Read more...

CEP election analysis

Further and higher education

There are not enough graduates for sectors in which the UK has a comparative advantage and there are too few people educated to sub-degree level compared to other countries....Read more...

CEP election analysis

Schools

Schools in England, and the UK as a whole, need greater investment. Failure to do so puts economic growth in jeopardy as well as worsening social mobility....Read more...

CEP election analysis

Wellbeing

Wellbeing should be the overarching aim of government. Assessing policies by showing the wellbeing benefit relative to cost would mean mental health becoming a top priority for policy development....Read more...

CEP election analysis

Immigration

In 2023, the majority of migrants were workers or students, and their dependants. Humanitarian immigration also increased - with visa schemes set up for those fleeing Ukraine and Hong Kong....Read more...

CEP election analysis

Housing and planning

The housing affordability crisis not only restricts access to decent housing, or housing at all, but it has adverse effects on equality, social cohesion, retirement planning, productivity and economic growth....Read more...

CEP election analysis

Work, wages and inactivity

The recent aggregate performance of the UK labour market looks good. But aggregate performance often obscures important changes around averages. Inequality along several dimensions remains a persistent feature of the UK ...Read more...

Blog

Vox EU:

Outsourcing market access services is a key strategy for firms expanding abroad

Business services like advertising, legal support and market research are key inputs for all manufacturing companies in an international business environment, since they are essential for accessing markets abroad. This c...Read more...

Blog

LSE Politics and Policy:

Stop performative Brexit and do what works for the British economy

Brexit has left its mark on UK international trade, although, so far, the effect has been smaller than economists expected. Dennis Novy, Thomas Sampson and Catherine Thomas review recent UK trade performance and argue th...Read more...

Blog

Economics Observatory:

Ideas for the UK: election economics international week

What is the right level of migration for the UK? Is the country on track to meet its commitments on tackling climate change? And how will big changes in the world trading environment affect the economy? Our fourth electi...Read more...

CEP election analysis

Spatial disparities in productivity and income

This briefing looks at the causes and consequences of UK spatial disparities and what, if anything, policy can do to address them....Read more...

CentrePiece article

in brief... Could a new policy institution help solve the UK’s productivity problem?

Comparatively sluggish productivity growth is one of the UK’s biggest policy challenges. Past strategies to solve the problem have lacked both sustained commitment and proper evaluation. Anna Valero and Bart van Ark call...Read more...

CentrePiece article

The national minimum wage: 25 years on

It is now just over a quarter of a century since a national minimum wage was introduced in the UK. Once a source of controversy due to fears that it would lead to fewer jobs, the policy has instead proved to be highly su...Read more...

CentrePiece article

The economic costs of the failing planning system

Paul Cheshire began to investigate the economic effects of the UK’s planning system 40 years ago. Here he draws on a recent public lecture – and panel discussion with Stephen Aldridge, Kate Barker and Simon Wolfson – to ...Read more...

Blog

What Works Centre for Local Economic Growth:

Spatial disparities in productivity are central to the future of levelling up

In the run-up to the election, our colleagues at the Centre for Economic Performance (CEP) are running a series of election analysis articles, where world-leading economists give their take on the state of different area...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 election analysis

Brexit and UK trade

This briefing summarises the evidence about how leaving the European Union (EU) has affected UK trade. Overall, Brexit has had a negative effect on UK trade. But, so far, this effect has been smaller than economists expe...Read more...

Blog

LSE Politics and Policy:

How to grow the UK's dwindling productivity

The UK economy is stuck. GDP growth per person has been anaemic over the last 14 years, and last year it actually fell. The cause behind these concerning figures is the collapse in the growth of productivity. If the next...Read more...

CEP election analysis

Growth and productivity

The collapse in productivity growth underlies many of the problems of the UK economy – from squeezed public services to stagnant living standards. Productivity growth in the UK has been weak relative to its own past and...Read more...

Blog

Vox EU:

Mafias and Firms (Podcast)

Which firms are infiltrated by organised crime, and why? We know that organised crime has links to some firms in the legal economy. But how big is this infiltration, and what do they gain from it? Rocco Macchiavello tell...Read more...

Journal article

British Journal of Industrial Relations:

Pay transparency intervention and the gender pay gap: Evidence from research-intensive universities in the UK

This study investigates the impact of a pay transparency intervention in reducing the gender pay gap in the UK university sector. Introduced in 2007, the initiative enabled public access to average annual earnings disagg...Read more...

Blog

Economics Observatory:

Ideas for the UK: election economics week one

Should the UK have compulsory national service? Do we need more police? How bad are NHS waiting lists? What about our failing water companies? Over the past week, the UK has seen a host of new policy proposals in these a...Read more...

Blog

What works Centre for Local Economic Growth:

Planning ahead for local growth

With a summer election coming, local areas face an important challenge over the next few months. Whichever government emerges on July 4th, it seems clear they will be asking local places to work out new steps and strateg...Read more...

Blog

Politics and Policy:

Can Starmer avoid the mistakes of the past?

Many think that the UK's crisis is the result of a series of mistakes individual prime ministers made: Boris Johnson, Theresa May, Liz Truss. But a deeper look reveals the source of these mistakes: the ideology of rampan...Read more...

Blog

What Works Centre for Local Economic Growth:

With great power comes great responsibility (for evaluation?)

Last week saw the final local government elections before the next general election. Amongst councillors changing places - or staying put - across the country, these elections ushered in two new metro mayors: one for Yor...Read more...

External report

Labour Economics: Thinking through Labour's economic agenda

With the Labour Party having vowed to achieve the fastest growth in the G7, the Social Market Foundation has brought together leading economic experts to provide independent analysis of the party's proposed approach - an...Read more...