Productivity

The paper investigates the short run responsiveness of National Health Service (NHS) nurses’ labour supply to changes in wages of NHS nurses relative to wages in outside options available to nurses, utilising the panel data aspect of the Annual Survey of Hours and Earnings.

We use direct evidence on credit constraints to study their importance for household consumption growth and for welfare.

This paper focuses on individuals who have completed university and provides new evidence on differences in graduates’ earnings by socio-economic background, with a particular focus on whether they attended a private school.

This report focuses on trends in public sector pay and compares these with what has been happening in the private sector.

A well-documented empirical result is that market expectations extracted from futures contracts on the federal funds rate are among the best predictors for the future course of monetary policy. The authors show how this information can be exploited to produce accurate forecasts of bond excess returns and to construct profitable investment strategies in bond markets.

This article uses individual data on employment and wages to try to understand whether real wage flexibility can help shed light on the UK’s productivity puzzle.

This study focuses on the transmission of inequality over the working life. A model of constrained intertemporal choice is used to provide structure to the distributional dynamics of wages, earnings, income and consumption. The mechanisms used to insure labour market shocks are examined in a partial-insurance setting where the manner and scope for insurance depends on the access to credit, the information available to consumers and the durability of income shocks. Drawing on recent research, family labour supply, the credit market and the tax system are all shown to play a key role. These mechanisms vary in importance across different points of the life cycle and the business cycle.

We use a simple and general model to show that increased price dispersion can be a consequence of frictions to efficient capital allocation.

This paper provides causal estimates of the effect of teacher pay on pupil attainment using a sharp geographical discontinuity in teacher salaries.

This note examines the public sector pay differential using the latest figures.

We present evidence from a field experiment designed to evaluate the impact of rank incentives and tournaments on the productivity and composition of teams.

This paper analyses the career progression of skilled and unskilled workers with a focus on how careers are affected by economic downturns and whether formal skills, acquired early on, can shield workers from the effect of recessions.