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Layard, Richard; Mayraz, Guy; Nickell, Stephen - Centre for Economic Performance, LSE - 2007

inequality. We estimate this parameter using four large cross-sectional surveys of subjective happiness and two panel surveys …

Persistent link: https://www.econbiz.de/10005796149

Does Relative Income Matter? Are the Critics Right?

Layard, Richard; Mayraz, Guy; Nickell, Stephen - Centre for Economic Performance, LSE - 2009

income. 2) In the West German Socio-Economic Panel since 1984 the same is true but with lifesatisfaction as the dependant … variable. We also use the Panel to compare the effect of income comparisons and of adaptation as factors explaining the stable … - further supporting the view that comparisons matter. 4) Finally, for a panel of European countries since 1973 we estimate the …

Persistent link: https://www.econbiz.de/10005256480

Cost-Benefit Analysis of Psychological Therapy

Clark, David; Knapp, Martin; Layard, Richard; Mayraz, Guy - Centre for Economic Performance, LSE - 2007

At present six million people are suffering from clinical depression or anxiety disorders, but only a quarter of them are in treatment. NICE Guidelines prescribe the offer of evidence-based psychological therapy, but they are not implemented, due to lack of therapists within the NHS. We...

Persistent link: https://www.econbiz.de/10005151004

Labour Market Institutions and Economic Performance

Layard, Richard; Nickell, Stephen - Centre for Economic Performance, LSE - 1998

Barely a day goes by without some expert telling us how the continental European economies are about to disintegrate unless their labour markets become more flexible. Basically, we are told, Europe has the wrong sort of labour market institutions for the modern global economy. These outdated...

Persistent link: https://www.econbiz.de/10004967675

Combatting Unemployment: Is Flexibility Enough?

Jackman, Richard; Layard, Richard; Nickell, Stephen - Centre for Economic Performance, LSE - 1996

Our conclusions are the most important influences on unemployment come from the following (i) The longer unemployment benefits are available the longer unemployment lasts. Similarly, higher levels of benefits generate higher unemployment, with an elasticity of around one half. On the other hand...

Persistent link: https://www.econbiz.de/10004967685

Unemployment in the OECD Countries

Layard, Richard; Nickell, Stephen - Centre for Economic Performance, LSE - 1992

Persistent link: https://www.econbiz.de/10005017099

Wishful Thinking

Mayraz, Guy - Centre for Economic Performance, LSE - 2011

An experiment tested whether and in what circumstances people are more likely to believe an event simply because it makes them better off. Subjects observed a financial asset's historical price chart, and received both an accuracy bonus for predicting the price at some future point, and an...

Persistent link: https://www.econbiz.de/10009368962

Life Satisfaction and Relative Income: Perceptions and Evidence

Mayraz, Guy; Schupp, Jürgen; Wagner, Gert G. - Centre for Economic Performance, LSE - 2009

questions than in previous studies. In questions inserted into a 2008 module of the German-Socio Economic Panel Study we ask …

Persistent link: https://www.econbiz.de/10005037456

Priors and Desires

Mayraz, Guy - Centre for Economic Performance, LSE - 2011

This paper offers a simple but powerful model of wishful thinking, cognitive dissonance, and related biases. Choices maximize subjective expected utility, but beliefs depend on the decision maker's interests as well as on relevant information. Simplifying assumptions yield a representation in...

Persistent link: https://www.econbiz.de/10008854562

Employment Patterns in OECD Countries

Nickell, Stephen; Nunziata, Luca - Centre for Economic Performance, LSE - 2000

This paper studies the dynamics of labour demand and the determinants of employment rates across the OECD. We find: (i) labour demand adjusts less rapidly when employment protection is more strict and union density is higher; (ii) there is no evidence that overall job turnover is influenced by...

Persistent link: https://www.econbiz.de/10004967711