The Centre for Macroeconomics (CFM) – a partnership between the University of Cambridge, the London School of Economics (LSE), University College London (UCL), the Bank of England and the National Institute of Economic and Social Research (NIESR) – is today publishing the results of a new monthly survey to inform the public about the views held by leading UK based macroeconomists on
UK macroeconomists see potential for higher growth: results of the first Centre for Macroeconomics survey
Angus Armstrong, Francesco Caselli, Jagjit Chadha, Wouter den Haan, 14 April 2014
Say on pay in the UK: Modest effect, even after the crisis
Ian Gregory-Smith, Steve Thompson, Peter Wright, 24 March 2014
The extensive academic literature on the growth of executive compensation has tended to polarise around one of two positions: the rents-capture view and the optimal contracting approach. These analyses lead to very different positions on the value of a ‘say on pay’ policy:
What can company data tell us about financing and investment decisions?
Katie Farrant, Magda Rutkowska, Konstantinos Theodoridis, 9 February 2014
Following the financial crisis, UK companies revised their spending and financing decisions dramatically. They reduced investment by around 13% in real terms between 2008 and 2012 (Besley and Van Reenen 2013, Haddow et al. 2013). But during that same period, corporate bond issuance by UK companies was strong, with record corporate bond issuance in 2012.
The long term economic impacts of reducing migration
Katerina Lisenkova, 10 January 2014
The large influx of immigrants following the accession of eastern European countries to the EU in 2004 brought migration policy to the forefront of the public agenda and political debate. Large net migration flows are a relatively recent phenomenon in the UK; consistent positive net migration numbers have only been observed since the 1990s.
The fiscal effects of immigration to the UK
Christian Dustmann, Tommaso Frattini, 13 November 2013
The impact of immigration on the tax and welfare system and the net fiscal consequences is perhaps the single most prominent economic issue in the public debate over the pros and cons of immigration.
Monetary policy in the UK: Time for change?
David Cobham, 16 September 2013
Before the Global Crisis it seemed as though the problems of monetary policy in the UK had been solved:
Language barriers? The impact of non-native English speakers in the classroom
Charlotte Geay, Sandra McNally, Shqiponja Telhaj, 14 September 2013
In the UK, as in other countries, there has been a rapid increase in the number of non-native speakers. In England the number of non-native speakers has increased by a third in the last decade. Now, roughly one in nine children between the ages of five and 11 do not speak English as a first language.
Export-market exit during the crisis: Evidence from the UK
Holger Görg, Marina-Eliza Spaliara, 13 September 2013
International trade declined dramatically during the Global Crisis (WTO 2012). Economists have offered various explanations for this (see Baldwin 2009):
A new age of uncertainty? Measuring its effect on the UK economy
Abigail Haddow, Chris Hare, John Hooley, Tamarah Shakir, 27 August 2013
Previous analysis has shown that the global financial crisis led to a rise in global macroeconomic uncertainty. Nick Bloom and others have highlighted the adverse effect of heightened uncertainty on economic activity – in particular by causing firms to cut back on hiring and investment, and leading households to become more cautious in their spending (Bloom 2011, Baker et al. 2011).
When is the time for austerity?
Alan Taylor, 20 July 2013
In 1809, on a battlefield in Portugal, the first recognisable medical trial evaluated bloodletting on a sample of 366 soldiers allocated into treatment and control groups. The cure was shown to be bogus. It was the beginning of the end of pre-modern medicine.
- Internationalisation, innovation, and productivity of firmsAltomonte, Aquilante, Békés, Ottaviano
- How rich nations benefit from EU membershipCampos, Coricelli, Moretti
- The ECB should do QE via forex interventionFrankel
- The chartbook of economic inequalityAtkinson, Morelli
- Predicting economic turning pointsAhir, Loungani
- A tale of two depressions: What do the new data tell us? February 2010 updateEichengreen, O’Rourke
- The ECB’s stealth bailoutSinn
- Educated in America: College graduates and high school dropoutsHeckman, LaFontaine
- Eurozone breakup would trigger the mother of all financial crisesEichengreen
- Panic-driven austerity in the Eurozone and its implicationsDe Grauwe, Ji
Mulgan, 11 April 2014
Campos, Coricelli, Moretti
Ostry, Berg, Tsangarides