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

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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

Topics: Europe's nations and regions, Global crisis
Tags: economic growth, output gap, UK

Say on pay in the UK: Modest effect, even after the crisis

Ian Gregory-Smith, Steve Thompson, Peter Wright, 24 March 2014

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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:

Topics: Frontiers of economic research, Labour markets, Microeconomic regulation, Poverty and income inequality
Tags: corporate governance, Executive compensation, executive pay, UK, voting

What can company data tell us about financing and investment decisions?

Katie Farrant, Magda Rutkowska, Konstantinos Theodoridis, 9 February 2014

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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.

Topics: Financial markets, Global crisis
Tags: corporate bond issuance, investment decline, UK

The long term economic impacts of reducing migration

Katerina Lisenkova, 10 January 2014

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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.

Topics: Europe's nations and regions, Labour markets, Migration
Tags: fiscal burden, immigration policy, UK

The fiscal effects of immigration to the UK

Christian Dustmann, Tommaso Frattini, 13 November 2013

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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.

Topics: Migration, Welfare state and social Europe
Tags: benefits, fiscal burden, immigration, migration, UK, welfare state

Monetary policy in the UK: Time for change?

David Cobham, 16 September 2013

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Before the Global Crisis it seemed as though the problems of monetary policy in the UK had been solved:

Topics: Monetary policy
Tags: Bank of England, inflation targeting, QE, UK

Language barriers? The impact of non-native English speakers in the classroom

Charlotte Geay, Sandra McNally, Shqiponja Telhaj, 14 September 2013

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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.

Topics: Education
Tags: immigration, UK

Export-market exit during the crisis: Evidence from the UK

Holger Görg, Marina-Eliza Spaliara, 13 September 2013

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International trade declined dramatically during the Global Crisis (WTO 2012). Economists have offered various explanations for this (see Baldwin 2009):

Topics: Europe's nations and regions, International trade
Tags: exports, UK

A new age of uncertainty? Measuring its effect on the UK economy

Abigail Haddow, Chris Hare, John Hooley, Tamarah Shakir, 27 August 2013

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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).

Topics: Europe's nations and regions
Tags: growth, UK

When is the time for austerity?

Alan Taylor, 20 July 2013

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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.

Topics: Macroeconomic policy
Tags: austerity, fiscal policy, UK

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