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 […]
Arkham City Joker, by greyloch, under a CC-BY-SA-2.0 licence
Imagine a world where financial institutions are characterised by pay proposals that break the cycle of pay inflation; by traders enjoying long careers within one organisation and by senior management adopting a pragmatic attitude to risk. My guess is that you can’t.
It’s difficult to think of bankers as anything other than the stereotype […]
Office work, by Unsplash, under a CC0 licence
It’s common for employers keen to promote a healthy modern workplace culture to offer at least some degree of flexible working to employees, whether they are parents who duck out of the office early to make the school run, those faced with lengthy commutes or even employees who simply wish to stay […]
Philip Hammond, by Foreign and Commonwealth Office, under a CC-BY-2.o licence
In his first Autumn Statement (and last – since he has decided to abolish them in favour of an annual November budget), the Chancellor presented the key forecasts from the Office for Budet Responsibility’s economic and fiscal outlook, the first since the June referendum. While there is still major uncertainty […]
London Pano (cropped), by kloniwotski, under a CC BY-SA 2.0 licence
The 23 June referendum had a clear effect on the pound’s value in the currency markets. Overnight, it dropped 10 per cent relative to the dollar, and reached its lowest value in 31 years. While the currency is still widely fluctuating months later, there is an overall downward sloping trend in […]
Union Jack, by PeteLinforth, under a CC0 licence
One in a series of evidence sessions for the Centre for Economic Performance’s second Growth Commission, a panel of top-tier economists, policymakers and business figures set out their visions for a best practice industrial strategy, before taking questions on: the impact of Brexit, where next for state aid, the role of governmental […]
Edinburgh anti-globalisation protests, by Sam Fentress, under a CC-BY-SA-2.0 licence
How should the European Union react to the decision of the British people to withdraw from the union? This is the question that has been at the centre of the political debate in Europe since the Brexit vote. Paul De Grauwe outlines a future scenario in which the EU could succeed after Brexit. He contends the […]
Google driverless car at intersection, by Grendelkhan, own work, under a CC BY-SA 4.0, via Wikimedia Commons
Following the financial crisis in 2008, central banks in the UK and other developed countries have attempted to inject extra liquidity into the market through asset purchases and low interest rates. Economic theory predicts inevitable hyperinflation, overheating, and currency crashes. Today, inflation rates […]
Flasks, by Republica, under a CC0 licence
Of all the new technologies that have emerged since the Second World War, biotechnology is notable in the extent to which US-based firms, having taken the lead at the start, continue to dominate the world market. Why has it been so difficult for other countries to catch up?
Biotechnology in this context refers to […]