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Latest RLAB News

Below are the latest headlines for CEP and STICERD. For full coverage see the CEP News and Visitors Site and the STICERD News and Visitors Site

Press TV
'Youths face gloomy future in Cameron's Britain'

The more persistent problems are stagnant pay and insecure employment terms. But these problems, too, are heavily concentrated on the young. British labor market experts Paul Gregg and Stephen Machin calculate that whereas the workforce as a whole has endured a lost decade for pay, the real drop in earnings for the youngest age bracket is now a breathtaking 14 percent, setting them back a full 16 years to 1998 wage rates.

This article was published online by Press TV on August 21, 2014
Link to article here

Related Publications
What a drag: The chilling impact of unemployment on real wages, Paul Gregg, Stephen Machin, 2012
Stephen Machin's CEP Publications

Related Links
Stephen Machin webpage
Labour Markets webpage

The Independent
David Cameron should do some homework before sounding off about immigration and jobs

The impact of immigration on the labour market is a serious subject. And there has been some serious academic research on it. Work by Jonathan Wadsworth at the London School of Economics suggests that around 17 per cent of new hires in the economy have been going to people born outside the UK.

This article appeared in the Independent on 21 August 2014 link to article

Related Publications
Immigration, the European Union and the UK Labour Market Jonathan Wadsworth, May 2014 Paper No' CEPPA015

Related Links
Jonathan Wadsworth webpage
Labour Markets webpage

Huffington Post Deutschland
Warum ein EU-Austritt der Briten Irrsinn wäre

Eine Analyse des Centre for Economic Performance (CEP) an der London School of Economics kommt zu dem Ergebnis: Die Isolation von Europa konnte GroBbritannien harter treffen als die Finanzkrise 2007.
An analysis of the Centre for Economic Performance (CEP) at the London School of Economics concludes: Isolation from Europe could hit Britain harder than the financial crisis of 2007.

This article was published in The Huffington Post Deutschland on August 19, 2014
Link to article here

Related publications
The Costs and Benefits of Leaving the EU, Gianmarco Ottaviano, Joao Paulo Pessoa, Thomas Sampson and John Van Reenen, Centre for Economic Performance Technical Paper, May 2014
Brexit or Fixit? The Trade and Welfare Effects of Leaving the European Union, Gianmarco Ottaviano, Joao Paulo Pessoa, Thomas Sampson and John Van Reenen, Centre for Economic Performance Policy Paper No.16, May 2014

Related links
Gianmarco Ottaviano webpage
Joao Paulo Pessoa webpage
Thomas Sampson webpage
John Van Reenen webpage
Globalisation Programme webpage
Productivity and Innovation Programme webpage

Report Launch:
Facing Debt: Economic Resilience in Newham

On 18th July 2014 the final report was launched from a year long research project conducted by the London School of Economics for the London Borough of Newham into the impact of debt and the experience of life on a low income.

 

The rising cost of living, stagnant wages and welfare reform have placed many households under increased financial strain. This report, commissioned by the London Borough of Newham and written independently by Professor Anne Power, offers a powerful insight into the lives of some of the hardest pressed people in our country. This research highlights the struggle of both working and non-working households and explores the relationship between financial planning and skills and attitudes to credit and debt. The report also provides a valuable insight into the real impact of welfare reforms and helps to inform Newham’s ongoing work to strengthen resilience.

 

A panel discussion was held with Polly Toynbee (Guardian), Vidhya Alakeson (Resolution Foundation), Professor Anne Power (LSE) and Sir Robin Wales (Mayor of Newham). The discussion considered the drivers and solutions to increasing levels of personal debt and what can be done locally, nationally and within the community to build economic resilience. The London Borough of Newham also outlined its plans to respond to the analysis in the report.  

The full report is available here (pdf). An audio recording of the launch event is also available.

Watch an interview with a Newham resident who took part in the research.


The Guardian Newspaper
Maitreesh Ghatak: India needs more than Narendra Modi's trickle-down model

EOPP director, Prof Maitreesh Ghatak, has recently published an article in the Guardian (July14th 2014) to comment on Narendra Modi's vision of growth and development. India's PM points to Gujarat as an emblem of economic success. Prof Ghatak points out that despite impressive growth, the state lags behind on welfare. He argues that a trickle-down model will not suffice and that "structural reforms are needed to facilitate growth, make it broad-based, and improve the efficiency and accountability of anti-poverty programmes" To read the article click here.


Austin Robinson Prize awarded to STICERD academic
Johannes Spinnewijn

At this year's Royal Economic Society Annual Conference, held in Manchester 7-9 April 2014, Johannes Spinnewijn won the 2013 prize for his paper Insurance and Perceptions- How to Screen Optimists and Pessimists. Launched in 2007, this annual prize is awarded for the best non-solicited paper published in The Economic Journal by an author who has completed their PhD in the last five years. The winner is selected by the Editors of the EJ. His presentation is now available to view on YouTube.

Oriana Bandiera was the Programme Chair for the 2014 conference, and the main sessions are available at http://live.wavecast.co/res-annual-conference/.