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    Brexit will leave the UK worse off economically in all scenarios

Brexit will leave the UK worse off economically in all scenarios

Since the UK voted to leave the European Union in June 2016, Brexit has dominated UK politics and economic policy. Three and a half years after the referendum, the UK is yet to leave the EU, there is no certainty over if or when Brexit will take place, and the shape of future UK-EU relations is yet to be […]

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    John Van Reenen: ‘A lot of promises are just smoke and mirrors’

John Van Reenen: ‘A lot of promises are just smoke and mirrors’

As director of LSE’s Centre for Economic Performance (CEP) up to 2016, British economist John Van Reenen led a team of academic researchers who produced detailed analysis of the consequences a divorce from the European Union would have on the UK economy. They predicted a fall in GDP, employment, direct investment, wages and productivity. Of these indicators, only employment […]

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    The Costs of Connection: How Data is Colonizing Human Life and Appropriating It for Capitalism – Book Review

The Costs of Connection: How Data is Colonizing Human Life and Appropriating It for Capitalism – Book Review

The Costs of Connection: How Data is Colonizing Human Life and Appropriating It for Capitalism. Nick Couldry and Ulises A. Mejias. Stanford University Press. 2019.

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The age of Big Data has frequently been framed as a new frontier in human life, presenting both brand new opportunities and brand new challenges. In The Costs of Connection, Nick Couldry […]

Economic insecurity breeds support for the right

Economic insecurity is attracting growing attention in social, academic, and policy circles. It has arguably risen for a number of reasons in recent years: the Great Recession (with its associated job instability), automation and the fear of job loss, the Chinese import shock, and ageing populations and migration, amongst others. As well as its obvious implications for family finances […]

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    Eurosceptic votes are less likely when EU interventions visibly boost local job markets

Eurosceptic votes are less likely when EU interventions visibly boost local job markets

Anti-systemic political movements have emerged in recent years in a large number of countries across the globe. These parties generally fuel their public support with anti-elite and anti-establishment rhetoric, which in Europe often translates into a strong critique to the European Union and its institutions. The EU is regarded by the supporters of anti-system movements as distant from the […]

Transforming the labour governance of global supply chains

Activists and academics alike hailed the conclusion of the Accord on Fire and Building Safety which offered hope that lessons had been learned from the carnage of the 2013 Rana Plaza building collapse in Bangladesh. Lauded as a “landmark,” a “gamechanger,” a “breakthrough,” this transnational industrial relations agreement (TIRA) between 222 global brands and retailers and IndustriALL and UNI […]

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    Can a post-Brexit UK trade more in financial services with ASEAN?

Can a post-Brexit UK trade more in financial services with ASEAN?

One of the purported prizes of Brexit is the ability of the United Kingdom to strike free trade agreements with the world outside the European Union. The presumption is that those agreements would benefit the UK’s export basket, a principal component of which is financial services. It is therefore instructive to anticipate and stress-test the feasibility of such deals […]

How to promote media literacy

I was recently asked to respond to a presentation on Australian children’s news media literacy at LSE. Shortly after, I participated in a roundtable on news literacy and disinformation, organised by the Department for Digital, Culture, Media & Sport (DCMS). These two occasions have made me think more deeply about news literacy as a variant of media literacy, which has the potential to enable citizens […]

Give us the right to choose

On Saturday 19 October 2019, the UK Parliament faces a historic choice over whether or not to vote through the new deal agreed by Boris Johnson and the European Union. Members should demand that the Johnson deal be put to the people against the alternative of a much better deal – remaining in the EU.

This People’s Vote is demanded […]

October 18th, 2019|CEP, Economics, LSE Authors|0 Comments|

When free trade lands on the banking desk

The effect of trade liberalisation on economic activity remains one of the most important questions in economics. While prominent theories of international trade show that free trade improves the allocation of resources and welfare within countries (the so called “reallocation channel”), trade scepticism is at a historical high in many policy circles around the world.

It is well understood that […]

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    Labour market mobility in the EU before and after the crisis

Labour market mobility in the EU before and after the crisis

The crisis has resulted in a substantial rise in unemployment in Europe and a notable divergence in unemployment rates and labour market outcomes post-crisis. Particularly, the events that unfolded since the financial crisis and the ensuing sovereign debt — as well as political and institutional — crisis had a tremendous impact on labour markets across Europe. Following a period […]

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    Measuring the effect of innovation on productivity inside firms

Measuring the effect of innovation on productivity inside firms

The role of innovation in explaining economic performance has been a focus of economic research for decades, and many questions remain unanswered. One of the main challenges is how we measure innovation. Only by improving the information we have at the firm level can we say something about the links between productivity, firm performance and the implementation of new ideas. In […]

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    Insurers need to extend climate risk disclosure to customers

Insurers need to extend climate risk disclosure to customers

Climate risk disclosure has advanced rapidly over the last four years, since governor of the Bank of England Mark Carney highlighted the risks of climate change to the finance and insurance industries in his Tragedy of the Horizon speech. The focus on climate risk disclosure has driven demand for physical climate risk analytics in a range of sectors, spurred on largely […]

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    Hidden in plain sight: the ghost in the automation and future of work debate

Hidden in plain sight: the ghost in the automation and future of work debate

Looking at the big picture it is not easy to pick your way through the media representations of the debate around automation, robots and the future of work. Sources and multiple studies are, in fact, very variable in quality, evidence and rigour. Nevertheless, media narratives seem to polarise around two storylines — hype or fear. “Hype” tells us that […]

The efficiency of the IPO market: homo economicus lives

In the initial public offering (IPO) market, sophisticated issuers with considerable sums at stake acquire underwriting services from a large number of capable and highly competitive investment banks. Neoclassical economics implies that such a market will (well, really, must) reach an efficient equilibrium. Yet, in practice, the IPO market has a number of highly unusual features that has led […]

What would Weitzman say?

In the classroom I simply refer to him as “Weitzman”, in the same way people simply refer to Keynes, Arrow, Solow, or Hicks. Such widely understood abbreviations reflect their high standing and unique contributions. Students recognised the importance of Weitzman’s contributions to economic theory too. After a year-long lecture series, one of my students proposed a t-shirt with “What […]

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    Why investors should not attach too much meaning to daily changes in the stock market

Why investors should not attach too much meaning to daily changes in the stock market

The stock market moves a lot on a day-to-day basis. Today the S&P 500 index may be up 1 per cent, and tomorrow it may be down 1 per cent. And although news commentators may be forced to relate it to some news about the economy, it is rare to come across news that may add or destroy the […]

Why No-Deal Brexit is a battle for the soul of our nation

We are careening towards the most extreme form of Brexit imaginable – flouncing out of the European Union (EU) after 46 years, without any transition plan. Operation Yellowhammer, a leaked secret report from the government’s own officials predicted that the outcome of this “No Deal Brexit” would be shortages of medicines and fresh foods, civil unrest and transport chaos. […]

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    Compact cities have many advantages – clean air isn’t one of them

Compact cities have many advantages – clean air isn’t one of them

Air pollution is bad for us. We all know that polluted air is detrimental to our health and recent research shows that it can also affect our performance in education, productivity at work and even our safety. This has important implications for our cities. Why? Because air pollution is primarily an urban problem. It is in large cities and their urban cores where we typically experience the worst air quality. As a result, the economist’s textbook description of urbanisation lists air pollution as one of […]

Is the big-box store killing Main Street?

The opening of big-box stores – i.e., large chain supermarket stores – has been a political concern in many countries over the last 20 years. Their critics claim they create enormous negative externalities in pre-existing market and city structures. They also say that this type of stores exacerbates pollution levels and contributes to the hollowing out of city centres, […]