At first glance, this may seem like a trivial question but in the context of the Brazilian Amazon, heavily deforested over the last half-a-century, understanding the links between commodity prices and deforestation is important given ever-increasing demand for beef and dairy products. Tropical forests host critical biodiversity ‘hotspots’ as well as providing a range of important ecosystem services, in […]
Experts often face a dilemma when clients ask for advice on risky decisions. For example, your financial adviser might be tempted to sell you a risky investment on which he earns sales commission or other benefits – even though he thinks that a more conservative investment would suit you better. Such behaviour then collides with the ideal of giving […]
Finding the right data
Since the mid-1990s, labour market discrimination based on sexual orientation has been investigated by a number of researchers (Badgett 1995, Black et al. 2003, Arabsheibani et al. 2005 and others). These studies frequently find sizeable earnings differences: 1) partnered gay men earn significantly less than partnered heterosexual men; and 2) partnered lesbian women earn significantly more than partnered heterosexual […]
Traditionally, cars are sold as finished and complete products, with a price premium attached to the specification and quality of design and craftsmanship. The buyers do not expect new cars to improve or change once they are rolled out of the dealer’s premises. Only occasional maintenance services, software updates or repairs are carried out to keep cars functional. To […]
Workers’ satisfaction with their job is, on average, higher in a flatter organisation than in a hierarchical organisation. That is the consensus finding of a survey of leading researchers on wellbeing from around the world on the impact of different organisational structures on workers’ wellbeing.
Hierarchical versus flat organisations
In the second round of the World Wellbeing Panel monthly survey, 31 […]
On 13 January, the office of the Prime Minister, Theresa May, received a letter signed by 100 members of the climate change research community about the potential threats to, and opportunities for, the UK national interest arising from the recent elections in the United States.
I had signed the letter after becoming concerned by alarming reports of plans that could […]
The enormous variation in firm performance has become a focus of empirical and theoretical interest throughout the social sciences, including economics. The topic is both complex and fascinating. Firms are such multifaceted organisations — whether small regional players or large multinationals — where technological, social, institutional, historical, and human factors all interact. Within such a complex world, a recent […]
My study adopts a broadly chronological approach, addressing the growth and development of the railway network from inception in the 1850s to maturity (though not maximum extension) around the time of the First World War. The principal chapters focus on the formative period from mid-nineteenth century to the 1870s, the consolidation of a national rail network in subsequent decades and […]
Like many others we were frustrated about the absence of both reliable and (almost) real-time economic indicators about the true state of the economy post-Brexit. Survey data was plentifully available, but often contradicted itself, and appeared to be heavily biased towards the political leaning of the sponsor. Hence, we decided to look for a truly independent and reliable indicator, […]
Eastern European countries had the highest female employment rates in the world during the socialist period. While the transition to capitalism had an initially negative impact on labour markets across the region, by the end of the transition some of these countries managed to recover their female employment to the high levels they had experienced prior to 1989 (see […]
The purpose of macroprudential policies, or ‘macropru’, is to prevent excessive risk accumulating in the financial system, to contain financial crises when they happen, and to ensure the financial system contributes to economic growth.
There are many directions the authorities can take when implementing macropru (e.g. Cerutti et al. 2016). Most are passive, focusing on crisis resolution and fixed rules […]
Holidays, by Jim Lukach, under a CC-BY-2.0 licence
On average, people are happier during festive seasons like Christmas and New Year celebrations. What’s more, increasing the number of mandatory public holidays would improve a country’s overall wellbeing. These are the consensus findings of a new survey from leading researchers on wellbeing from around the world. The wellbeing research group at LSE’s […]
Canary Wharf Skyline, by David Iliff, under a CC-BY-SA-3.0 licence
In the aftermath of the financial crisis and other large scale corporate scandals, a large number of public inquires and documents written by regulators, consulting firms and professional associations drew attention to something that needs fixing: the risk culture of financial sector organisations (see, for example, publications by the International institute of Finance, the Financial […]
© DesignRaphael Ltd
The UK government has recently given its approval for exploratory drilling and hydraulic fracturing – ‘fracking’ – for shale gas at two sites in Lancashire. This follows a similar decision for North Yorkshire earlier in the year.
Some will see these approvals as landmark planning decisions marking the way to a low-cost energy future for the UK. For others, […]
© DesignRaphael Ltd
In the United States, exploitation of shale gas resources through a technology called hydraulic fracturing (‘fracking’) started an energy revolution from the early 2000s onwards.
Fracking is now widely used across several major shale gas ‘plays’ (formations): most importantly, the Marcellus Shale of Pennsylvania, Ohio and West Virginia (see Figure 1). The surge in shale gas production has made […]
Wisdom love happiness courage tranquillity peace, by woodleywonderworks, under a CC-BY-2.0 licence
In 1961, the Organisation for Economic Cooperation and Development (OECD) organised a conference on human capital that propelled education into the centre of policymaking worldwide. This month, the OECD and the London School of Economics (LSE) are holding a conference on subjective wellbeing that they hope will usher in […]
Ball, by geralt, under a CC0 licence
It is easy to see the appeal of data-sharing as means of fixing problems with the delivery of public services. Take data set X held in one part of government, share it with a different part of government that has another data set Y. Combine data sets X and Y and use the […]
Many people think that migrants take jobs away from citizens, reduce wages or both. Others argue that immigrants benefit the economy because they take risks and start businesses. In three short videos below Alan Manning explains how migration affects your job prospects, presents the data from the UK and the world, and gives insights on managing migration in light […]
Construction worker, by skeeze, under a CC0 licence
With ongoing governmental debate on the nature of Brexit, there is as yet no certainty on its precise impact. Still, there is wide speculation that any kind of Brexit will have negative consequences: the HM Treasury, for instance, has declared that a Brexit of any kind will make us ‘permanently poorer’. Given […]
Wall, by josemdelaa, under a CC0 licence
Given advances in the gay, lesbian and bisexual movement over the last several decades, society assumes that the achievement has been similar for the transgender community (those whose gender identity does not correspond to the sex they were assigned at birth). Despite the increasing public presence of transgender (or ‘trans’) individuals in entertainment and […]